Cryptocurrencies Price Prediction: Dogecoin, Ethereum & Celo — Asian Wrap 04 March FXStreet
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Shiba Inu (SHIB) Breaks Records, Celo Could Move to Ethereum (ETH) and Tradecurve Markets (TCRV) Presale … Analytics Insight
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Celo, a blockchain platform, is exploring migrating from its standalone blockchain to an Ethereum (ETH) Layer-2 (L2) network. Originally, Celo had planned to utilize Optimism’s OP Stack, a customizable toolkit similar to Polygon (MATIC) but based on Optimism’s technology.
However, Sandeep Nailwal, co-founder of Polygon Labs, has proposed an alternative solution to the Celo community. Nailwal suggests leveraging Polygon’s Chain Development Kit (CDK), an open-source toolset that enables the creation of customizable Layer-2 chains powered by zero-knowledge (ZK) technology.
Celo’s Potential Move To Ethereum Layer-2 Via Polygon
In a recent blog post, Polygon Labs suggested Celo could consider deploying an Ethereum Layer-2 solution using Polygon CDK.
According to Polygon Labs co-founder Nailwal, this strategy would allow Celo to leverage the benefits of being an Ethereum Layer-2 platform while preserving the characteristics that have contributed to its success.
The proposal emphasizes several key advantages of adopting Polygon CDK. Firstly, it enables cross-community collaboration by integrating with an ecosystem of Layer-2 solutions powered by zero-knowledge technology.
Polygon CDK enhances compatibility with Ethereum by providing an environment equivalent to the Ethereum Virtual Machine (EVM). This alignment ensures a seamless transition for Celo, closely matching Ethereum’s technical infrastructure and tooling.
Furthermore, according to Nailwal, deploying with the protocol’s CDK offers increased security for Celo. It allows Celo to leverage Ethereum’s proven consensus layer while incorporating the security benefits of zero-knowledge proofs.
Regarding fees and scalability, Celo can benefit from low fees by utilizing the zkEVM validium architecture and off-chain data availability supported by Polygon CDK. These features contribute to cost-efficient transactions while enabling scalability for Celo’s network.
Moreover, according to Nailwal, Celo gains access to a unified Layer-2 economy by becoming a part of the Polygon ecosystem by combining Ethereum’s mainnet with Polygon’s ecosystem. This integration creates a seamless experience for developers and users, facilitating interaction with both networks.
Fast Transactions And Lower Fees?
With zero-knowledge technology, Celo users can enjoy near-instant withdrawals, faster finality times, and instant cross-chain interactivity.
According to the blog post, these features enhance the speed, efficiency, and security of transactions, ultimately improving the user experience.
Through Polygon CDK, chains can achieve near-instant cross-chain interactivity with Ethereum, leveraging the power of ZK proofs to establish a secure and interconnected network.
Overall, the proposed migration to Polygon CDK represents an opportunity for Celo to transition to an Ethereum Layer-2 solution while harnessing the advantages offered by Polygon’s ZK-powered technology. The proposal aims to initiate discussions between the Celo and Polygon communities to explore the potential benefits for all stakeholders involved.
It is important to note that no final decision has been made at this stage, and the proposal signifies the beginning of discussions between the Celo and Polygon communities.
Featured image from iStock, chart from TradingView.com
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Celo crypto price has gone parabolic in the past few days.
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The network’s ecosystem growth has continued to accelerate.
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Celo recently integrated Chainlink in its ecosystem.
Celo price has made a spectacular comeback this month, making it one of the best-performing cryptocurrencies in the industry. The token soared to a high of $0.6736 on Monday, the highest level since April 19th. It has jumped by more than 85% from the lowest level in June.
Celo user growth continuing
Celo is a fast-growing blockchain that is gaining traction among developers and users. The platform is used to build quality dApps in all industries, including DeFi and non-fungible tokens (NFTs). It is able to handle about 11.99 blocks per second.
Celo’s ecosystem growth has continued. According to DeFi Llama, the total value locked (TVL) jumped to more than $116 million. The biggest DeFi apps in the ecosystem are Mento, Curve DEX, Uniswap V3, and Moola Market among others.
The main reason why Celo price is soaring is that the number of active users in the ecosystem is growing. For example, data compiled by Dune Analytics shows that the number of transactions in the ecosystem has jumped to over 228 million.
Celo has handled over 20.15 million blocks over the years while the number of active addresses jumped to over 2.4 million. It has handled over 12.1 million contracts.
Celo seems to be popping off. Impressive user and transaction growth numbers lately.
Anyone know what’s driving this? pic.twitter.com/0yhA0fpjSS
— Haseeb ＞|＜ (@hosseeb) June 30, 2023
The other important Celo news is that the developers recently integrated Chainlink’s data feeds. Chainlink, the biggest oracle network in the world. An oracle is a platform that connects off-chain data to the on-chain. In an announcement, the head of ecosystem growth at Celo said:
“Chainlink Data Feeds will empower Celo developers, providing critical access to oracle data and services and bolster Celo’s dApps to drive real-world impact and solutions.”
Celo price prediction
The 4H chart shows that the CELO crypto price has made a strong bullish trend in the past few weeks. As it jumped, the token rose above the key resistance point at $0.5686, the highest level on June 3rd. It has moved above the 25-day and 50-day moving averages.
A the same time, the Relative Strength Index (RSI) moved to the overbought level. The MACD has jumped to the highest level in months. Therefore, with the coin being overbought, there is a likelihood that Celo will retreat and retest the support at $0.5686.
How to buy Celo
Binance
Binance is one of the largest cryptocurrency exchanges in the world. It is better suited to more experienced investors and it offers a large number of cryptocurrencies to choose from, at over 600.
Binance is also known for having low trading fees and a multiple of trading options that its users can benefit from, such as; peer-to-peer trading, margin trading and spot trading.
OKX
OKX is a top cryptocurrency exchange which offers over 140 cryptocurrencies to invest in.
OKX takes customer security very seriously, they store almost all of their clients’ funds in cold storage, and the exchange is yet to be hacked.
On top of this, the exchange offers very low fees and customers can even use their crypto as collateral for loans on the platform.
Bitcoin price had a strong performance this week as investors ignored one of the biggest cryptocurrencies news of the year. During the week, the Commodity Futures Trading Commission (CFTC) announced a lawsuit against Binance, the biggest crypto exchange in the world. The rally coincided with the strong comeback of American indices like the Dow Jones and Nasdaq. This article will look at the price predictions of Hedera Hashgraph (HBAR), Celo, and Injective Protocol.
Hedera Hashgraph price prediction
The 4H chart shows that the HBAR price had a good week as investors reacted to its growing ecosystem. Hedera Hashgraph managed to move above the key resistance at $0.068, the highest level on March 14. The token has moved above the 50-period exponential moving average (EMA) while the Relative Strength Index (RSI) has moved close to the overbought level.
HBAR has moved above the Ichimoku cloud. Therefore, there is a possibility that the coin will continue rising, with the next key resistance level to watch being at $0.078, the lowest point on February 13. This price is about 13.45% above the current level.
How to buy Hedera Hashgraph
eToro
eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.
Binance.US
Binance.US provides secure and reliable access to the world’s most popular cryptocurrencies, with some of the lowest fees in the industry.
Buy HBAR with Binance.US today
Celo price prediction
Celo is an EVM-compatible blockchain platform that makes it possible for developers to build quality applications in industries like DeFi and Non-Fungible Tokens (NFT). Celo jumped as the number of Celo Domain Names minted jumped to over 200k. The developers also announced that Celo’s Europe DAO was coming soon.
Celo has been in a strong bullish trend in the past few days. It moved above the key resistance level at $0.6861, the highest level on March 20th. The coin has moved above the 50-period moving average. Further, the Stochastic Oscillator has also moved slightly below the overbought point. Therefore, Celo will likely continue rising as buyers target the key resistance at $0.85, ~20% above the current level.
How to buy Celo
eToro
eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.
Binance.US
Binance.US provides secure and reliable access to the world’s most popular cryptocurrencies, with some of the lowest fees in the industry.
Buy CELO with Binance.US today
Injective Protocol price prediction
INJ price has been in a strong bullish trend in the past few years. Injective Protocol has jumped by about 90% above the lowest level this month. It has risen by 280% above the lowest level this year. The token has moved above the 50-period moving average while the Relative Strength Index (RSI) and the Stochastic Oscillator moved to the overbought level.
Therefore, Injective Protocol will likely continue rising as buyers target the key resistance point at $5.5. This view will be confirmed if it moves above the year-to-date high of $5.0.
How to buy Injective Protocol
KuCoin
Kucoin is a cryptocurrency exchange which offers over 200 cryptocurrencies.
Kucoin has a wide range of services, such as; a built-in peer-to-peer exchange, spot and margin trading, bank level security and a wide range of accepted payment methods.
Users can benefit from a beginner-friendly interface and relatively low fees.
Wazirx
WazirX is India’s largest crypto exchange. Started in 2018, WazirX has grown to be the most trusted exchange in the Indian crypto market. It is a part of the binance group, serving users in 180 countries.
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CELO is the best performer amongst the top 100 cryptocurrencies by market cap today.
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The broader crypto market has lost roughly 3% of its value in the last 24 hours.
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Bitcoin could drop into the $15k zone if the bearish momentum continues
CELO outperforms the major cryptocurrencies
CELO, the coin that powers the Celo blockchain, is leading the market charge today. The coin is the best performer amongst the top 100 cryptocurrencies by market cap, adding more than 16% to its value in the last 24 hours.
There is no catalyst behind this latest rally. However, CELO has been rallying since Celo announced a partnership with Ethereum software firm ConsenSys last week.
According to the terms of the partnership, Celo will integrate with ConsenSys’ Infura infrastructure. Over the last seven days, CELO has soared by 52%, outperforming the other major cryptocurrencies in the process.
The rally comes as the broader crypto market retreats. The total crypto market cap stands at $817 billion, down by nearly 3% in the last 24 hours. Bitcoin, the world’s leading cryptocurrency by market cap, has also lost 2% of its value.
At press time, the price of Bitcoin stands at $16,206 and could drop into the $15k zone if the bearish trend continues. The price of Ethereum stands at $1,173, down by more than 3% so far today.
Key levels to watch
The CELO/USD 4-hour chart is bullish as Celo has been performing excellently over the last 24 hours. The technical indicators show that CELO has been outperforming the broader crypto market over the last few days.
The MACD line is deep within the positive zone, indicating that the bulls have been in charge of the CELO market for a while now. The 14-day RSI of 69 shows that CELO could enter the overbought region if it can embark on a sustained bullish run.
At press time, CELO is trading at $0.6465. CELO could surge past the first major resistance level at $0.7898 before the end of the day if the bullish momentum is maintained.
In the event of an extended bullish run, CELO could rally toward the $0.9176 resistance level for the first time since September.
Where to buy Celo now
eToro
eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.
Uphold
Uphold is a platform which has over 50 cryptocurrencies to choose from.
It’s users can make crypto trades with a bank account, credit card or crypto debit card. It has variable fees and allows users to automate trades.
Users who are on Brave’s internet browser can also earn BAT tokens based on their browsing habits.
CRV is outperforming the broader cryptocurrency market after launching on the Celo network a few hours ago.
CRV, the native coin of the Curve Finance decentralised exchange, is up by more than 40% in the last 24 hours, making it the best performer amongst the top 100 cryptocurrencies by market cap.
The rally comes after Curve Finance launched on the Celo network. The Celo team announced a few hours ago that Curve Finance had partnered with Stake DAO and Stake Capital to launch on its network.
@CurveFinance, in partnership with @StakeDAOHQ and @StakeCapital, has just deployed on Celo, promoting real-world adoption of crypto assets.
Why it matters:
pic.twitter.com/IDUiDbduDE
— Celo (@CeloOrg) November 22, 2022
Curve Finance’s users will be able to more easily transfer digital assets and move on- and off-chain via Wormhole’s Portal bridge.
This latest cryptocurrency news comes as the broader crypto market recovers from its recent slump. After a poor start to the week, the total crypto market cap is now above $800 billion once again, up by nearly 5% in the last 24 hours.
Bitcoin, the world’s leading cryptocurrency, has also bounced back after hitting a new two-year low yesterday. At press time, the price of Bitcoin stands at $16,500, up by more than 5% so far today.
Key levels to watch
The CRV/USD 4-hour chart has turned bullish as Curve Finance has been rallying over the past 24 hours. The technical indicators show that CRV is outperforming the broader market at the moment.
The MACD line crossed into the positive zone a few hours ago, thanks to Curve Finance’s ongoing rally. The 14-day relative strength index of 68 also shows that CRV could soon enter the overbought region if the rally continues.
At press time, CRV is trading at $0.6495. If the bulls continue to be in control, CRV could surge past the $0.7960 resistance level before the end of the day. In the event of an extended rally, CRV could hit the $0.9578 resistance level over the next few days.
However, the bears might regain control, and that could see CRV fight to defend the first major support level at $0.5885.
Where to buy Curve Finance now
eToro
eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.
Bitstamp
Bitstamp is a leading cryptocurrency exchange which offers trading in fiat currencies or popular cryptocurrencies.
Bitstamp is a fully regulated company which offers users an intuitive interface, a high degree of security for your digital assets, excellent customer support and multiple withdrawal methods.
CELO has lost 20% of its value in the last 24 hours ahead of its hard fork scheduled later today.
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CELO, the native coin of the Celo network, has lost 20% of its value in the last 24 hours. It is one of the many cryptocurrencies that have been underperforming since the start of the day.
The poor performance comes despite Celo announcing a major hard fork scheduled today. The Flan hard fork will activate at block height 16068685 on November 9 and will not affect users.
The Flan Hardfork activates tomorrow!
Exciting upgrades include consensus security, a raise in the block gas limit, and ethers.js compatibility.
8:30AM PT
Join the watch party: https://t.co/Jrrjrvtkaj
Learn more: https://t.co/pNGq7tWOuV pic.twitter.com/6AazuqHlAm— Celo (@CeloOrg) November 8, 2022
CELO’s plunge comes as the broader cryptocurrency market experienced a massive sell-off. The FTX struggles over the last couple of days have plunged the crypto market into a bearish trend, with most coins trading in the red zone.
The total cryptocurrency market cap is now below $900 billion, down by 10% in the last 24 hours. Bitcoin dropped below the $18k level for the first time in months after losing 8% of its value. However, it has slightly bounced back and is now trading above $18k.
Ether is also down by more than 15% today and is now trading around $1,200 per coin.
Key levels to watch
The CELO/USD 4-hour chart is extremely bearish, as Celo has been underperforming since the start of the week.
The MACD line is deep within the negative territory, indicating that CELO is currently experiencing heavy selling pressure from the market.
The 14-day relative strength index of 19 shows that CELO is currently in the oversold region. At press time, CELO is trading at $0.527 per coin.
If the bearish trend continues, CELO could trade below the $0.50 support level for the first time in more than 6 months. However, in the event of an extended sell-off, CELO could trade below $0.40 for the first time in more than a year.
Where to buy CELO now
eToro
eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.
Uphold
Uphold is a platform which has over 50 cryptocurrencies to choose from.
It’s users can make crypto trades with a bank account, credit card or crypto debit card. It has variable fees and allows users to automate trades.
Users who are on Brave’s internet browser can also earn BAT tokens based on their browsing habits.
CELO is up by more than 2% today despite the network suffering a phishing attack over the weekend.
CELO, the native coin of the Celo blockchain, is one of the best performers amongst the top 100 cryptocurrencies by market cap. The coin has added more than 2% to its value today, outperforming the broader cryptocurrency market.
The positive performance comes despite the Celo network experiencing a phishing attack over the weekend.
A phishing attempt occurred on 11/4/22 on the Celo network. Please remember that no one from the Celo community will ever ask you to share your recovery phrase.
— Celo (@CeloOrg) November 5, 2022
The Celo team informed its community members that the phishing attempt sent a small amount of CELO to Celo wallets, with a message to claim further “lottery” gains on fraudulent website(s).
CELO’s positive performance also comes as the broader crypto market has also been underperforming so far today. The total crypto market cap continues to stand above $1 trillion. However, it is by more than 2% in the last 24 hours.
Bitcoin is still struggling to top the $21k resistance level and has lost more than 2% of its value today and now trades around $20,700 per coin. Ether is down by 3% in the last 24 hours and is now trading at $1,562 per coin.
Key levels to watch
The CELO/USD 4-hour chart has turned bullish as Celo has been performing well over the past few hours. CELO is currently outperforming the broader cryptocurrency market.
The MACD line recently crossed into the positive zone, indicating that the bulls are now in charge of the CELO market. The 14-day relative strength index of 62 shows that CELO could enter the overbought region if the rally continues,
At press time, CELO is trading at $0.758 per coin. If the positive momentum is maintained, CELO could surge past the first major resistance level at $0.934 before the end of the day.
However, CELO could find it hard to top the $1 psychological level in the near term as the broader cryptocurrency market is currently bearish.
Where to buy Celo now
eToro
eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.
Uphold
Uphold is a platform which has over 50 cryptocurrencies to choose from.
It’s users can make crypto trades with a bank account, credit card or crypto debit card. It has variable fees and allows users to automate trades.
Users who are on Brave’s internet browser can also earn BAT tokens based on their browsing habits.
CELO has lost more than 4% of its value in the last 24 hours despite the development announcing a huge funding round yesterday.
The cryptocurrency market could end the week in a bearish trend as most coins are trading in the red zone. CELO, the native coin of the Celo blockchain, has lost more than 4% of its value today and is now trading at $0.700 per coin.
The poor performance comes despite the Celo team announcing a huge funding round yesterday.
This just in.
Celo ecosystem partners have raised over $77 million to support financial inclusion, interoperability, regenerative finance (ReFi), and more.
Here’s the round-up
— Celo (@CeloOrg) October 27, 2022
Celo revealed that the Celo ecosystem partners had raised over $77 million to support financial inclusion, interoperability, regenerative finance (ReFi), and more.
The poor performance coincides with that of the broader crypto market, which has lost more than 2% of its value today. The total crypto market cap now stands at $982 billion.
Bitcoin continues to trade above $20k but could slip below that level soon after losing 2% of its value in the last 24 hours. Ether is also down by more than 2% today and is trading around $1,500 per coin.
Key levels to watch
The CELO/USD 4-hour chart has turned bearish as Celo has been underperforming over the last 24 hours. The technical indicators show that CELO is losing some of the gains it accumulated this week.
The MACD line has dropped into the negative zone, indicating a bearish momentum. The 14-day relative strength index of 39 also shows that CELO could enter the oversold region if the negative trend continues.
If the bears remain in charge, CELO could drop below the $0.663 support level for the first time this month. The bulls have maintained CELO’s price above $0.60 over the last few months and could do so again over the next few hours and days.
Where to buy Celo now
eToro
eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.
Uphold
Uphold is a platform which has over 50 cryptocurrencies to choose from.
It’s users can make crypto trades with a bank account, credit card or crypto debit card. It has variable fees and allows users to automate trades.
Users who are on Brave’s internet browser can also earn BAT tokens based on their browsing habits.