Tag: Coin Bureau

This Ethereum Rival Has Potential To Surge by Over 280%, According to Coin Bureau

by Dailyhodl

Pseudonymous Coin Bureau host Guys says that a top ten Ethereum (ETH) rival could rally by up to three times from its current price.

In a new YouTube video, Guy tells his 1.92 million subscribers that algorithmic decentralized stablecoin platform Terra (LUNA) could rally up to 284%.

According to Guy, the rally would be primarily driven by the popularity of Terra’s US dollar-pegged stable coin, TerraUSD (UST).

“The only thing that’s really holding LUNA back is its massive market cap. But the availability and popularity of UST means that LUNA might manage to squeeze out another 2-3x giving it a price tag of between $150 and $200.”

According to the Coin Bureau host, LUNA gets bullish when the rest of the crypto market is bearish.

“What’s more is that Luna tends to pump when the crypto market crashes and this is likely due to the increased demand for the UST stablecoin, which now exists on nearly a dozen blockchains and is trading on most major exchanges. If that didn’t give it away, LUNA’s price action is driven by the demand for UST.”

Guy says that one of the factors raising UST demand is the stablecoin’s decentralized nature.

“For starters, there’s the safe-haven status of UST as a stablecoin, something that’s been solidified by UST’s ability to maintain its peg during market downturns. This is not something that other decentralized stablecoins have managed to do…

Now Terra’s DApps [decentralized applications] have in fact been the primary demand drivers for UST, especially the Anchor Protocol [savings platform] which has received praise from just about every other smart contract crypto project.

To put things into perspective, less than a year ago there was only one DApp on Terra. Today, there are over 100. How’s that for exponential growth! 

Another big demand driver for UST has been the regulatory concerns around centralized stablecoins in the United States which have increased significantly since last September…

As a result of these and other factors, almost 10 billion UST have been minted since September alone.”

LUNA, which currently boasts a market cap of slightly over $21 billion, is trading at $52.30 at time of writing. The TerraUSD stablecoin is currently ranked 15th by market cap, which is about $11.3 billion.

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Crypto Winter? Coin Bureau Says Digital Assets Are Completely Different From Last Bear Market – Here’s Why

by Dailyhodl

The host of the popular YouTube channel Coin Bureau thinks digital assets are in a completely different place than they were during the “crypto winter” of 2018/2019.

The pseudonymous analyst known as Guy tells his 1.92 million YouTube subscribers that the two time periods are “almost incomparable.”

“The markets have evolved. More people know about crypto. More people are using crypto. The investors are different. The investors are investing based on different theses. The conditions that led to the last crypto winter are nowhere to be found.”

Guy argues that unlike the massive boom in initial coin offerings (ICOs) that caused the price bust in 2018, prices are down right now due to external factors.

“The markets are tanking right now because of factors that are way, way outside of the crypto market. A global pandemic and monetary stimulus not seen in over 100 years [are] pretty likely to have big implications for nearly all asset classes, and crypto is no different.

In fact, part of the reason that we’re seeing these moves is precisely because crypto has become such an investable asset class. Those institutional investors who allocate to equities are now taking general risk off the table.

They’re not discriminating between ETH and Netflix, Bitcoin and Tesla. They are worried about the Fed hiking rates, war with Russia, supply chain disruptions, pandemic variants – it’s a global macro landscape and crypto is being caught up in it.”

The analyst also notes there is a different regulatory and political landscape for crypto. While China had a big influence on the crypto markets in 2018, Guy argues the country is now “increasingly irrelevant” to the space citing its recent Bitcoin (BTC) mining ban.

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This Ethereum Competitor Is Likely To Break Into the Top 5 Crypto Assets by Market Cap, According to Coin Bureau

by Dailyhodl

The host of popular crypto channel Coin Bureau says that one Ethereum (ETH) competitor could surge into the top five crypto assets by market cap.

In a new video, the pseudonymous analyst known as Guy tells his 1.9 million YouTube subscribers that layer-1 smart contract platform Avalanche (AVAX) is set to compete with bigger crypto assets that sit above it in terms of market cap.

“It’s possible if not likely that Avalanche could crack the top five, especially since some of the cryptocurrencies in its way are of a lesser caliber, to put it mildly.”

Guy says that despite the recent crypto market correction, AVAX’s price remains in a macro uptrend due to rising consumer demand and ease of accessibility of its C-Chain, which is the default smart contract blockchain on Avalanche. The analyst says it’s a bullish sign for AVAX.

“[Avalanche] remains in a clear uptrend despite the massive crypto market dip we’ve seen over the last few months. This is for one simple reason, and that’s demand.

According to DappRadar, Avalanche’s C-chain has around half a million monthly active users which is not too shabby at all. The number of daily transactions on the C-chain has also been on a relentless rise.

Besides the C-chain’s EVM (Ethereum Virtual Machine) support, Avalanche’s amazing adoption is likely because [of] Binance and Coinbase support withdrawals and deposits directly from and to the C-chain. This makes Avalanche very accessible to the average crypto holder.”

According to Guy, Avalanche growing large enough to challenge Ethereum is not off the table.

“Right now, AVAX seems to be focused on DeFi (decentralized finance), and that’s all well and good, but that’s a very crowded neighborhood…

That said, the trends are in Avalanche’s favor and if it continues the way it has, it could become big enough to challenge Ethereum.”

Avalanche is changing hands at $70.20 at time of writing, a 19.5% decrease from its seven-day high of $87.37.

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The Most Undervalued Altcoin in DeFi Could Blow Up 5X This Year, According to Coin Bureau

by Dailyhodl

The host of popular crypto channel Coin Bureau is looking at what’s in store for decentralized lending and borrowing protocol Aave (AAVE).

In a new video, the pseudonymous analyst Guy tells his 1.87 million YouTube subscribers that the overall decentralized finance (DeFi) sector is coming off a slump compared to the rest of the crypto markets.

“The AAVE token has performed poorly and is barely up 2x since the start of 2021. Just about every DeFi token has been struggling to keep up with the rest of the crypto market since it crashed in May last year.

This seems to be because the hype has moved into NFTs [non-fungible tokens]. This is something that [AAVE founder and CEO] Stani Kulechov acknowledged in an October panel discussion.

He basically said that while DeFi is very exciting and often offers lots of gains, it’s just too complex for the average person to wrap their head around.

Meanwhile, NFTs provide comparable levels of excitement and gains, and they’re a concept that almost anyone can understand.”

Last year Aave climbed from under $100 to an all-time high above $660 on May 18th before crashing by over 70% to $184 by late June. After clawing its way back to over $400 by mid-September, the altcoin ended the year on a downward trend until a rally in late December which took AAVE from $180 to $255.

The Coin Bureau host notes that Aave’s upcoming V3 upgrade ought to increase interest in the project.

“The most important upcoming milestone is the launch Aave V3, which will introduce multiple new features to the Aave protocol.

The first is a feature called Portal and it will make it possible for lenders and borrowers to transfer any tokens they have deposited into Aave V3 on one blockchain to Aave V3 on other blockchains.

The second feature is called high-efficiency mode, or e-mode, and it will make it possible to significantly increase the loan-to-value ratio for certain assets… 

[14:50] The third feature on Aave V3 is Isolation Mode and it will make it possible to introduce new tokens to the Aave protocol while minimizing the risks to the rest of the protocol.“

Guy also mentions Aave’s plans to impact the future of social media by releasing a decentralized social media platform where users cannot be censored or deleted.

[17:20] “Aave’s social media platform will be built in such a way that your social media profile, as well as any other content you create on Aave’s platform, will be portable to any other decentralized social media platforms that emerge on Ethereum, effectively making censorship impossible.

In terms of a specific release date, Aave said its social media platform is ‘coming soon’ and it’s been slow to roll out because the team has been mostly focused on Aave v3 for the last few months…

Stani believes decentralized social media will be the next hot niche after NFTs.”

The analyst concludes by giving his price predictions for AAVE.

“With a market cap of just $3 billion, this means that AAVE could be undervalued by a factor of five, and its fair valuation could be well over $1,000.”

At time of writing, AAVE is up 2.93% on the day and trading for $217.36.

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This Ethereum Competitor Could More Than Double Its Price in Coming Months, According to Coin Bureau

by Dailyhodl

The host of popular crypto channel Coin Bureau is exploring if veteran altcoin Tezos (XTZ) has what it takes to recapture previous all-time highs during the current bull run.

In a new video, the analyst known as Guy tells his 1.84 million YouTube subscribers that the Ethereum (ETH) competitor’s built-in adaptability is key to its long-term prospects.

“Tezos is one of the few cryptocurrencies that has been explicitly designed to evolve so that it may not only survive but thrive…

Tezos is on track to become one of the top cryptocurrencies.”

Tezos was first proposed in 2014 and native token XTZ launched in 2018. According to the project website, Tezos values both design and governance as keys to ensuring success.

“Tezos is an open-source platform that addresses key barriers facing blockchain adoption for assets and applications backed by a global community of validators, researchers, and builders.

By design, Tezos embraces long-term upgradability, open participation, collaboration, and smart contract safety.”

The Coin Bureau host notes that the price of XTZ still remains undervalued after three years, especially in relation to how Bitcoin (BTC) and Ethereum have done over the same period of time.

“XTZ hasn’t performed all that well compared to most other cryptocurrencies… only up about 10x. If ICO [initial coin offering] participants had held onto [their] BTC and ETH instead, they’d be up almost 20x.

It’s safe to say that the Tezos Foundation is aware of the store-of-value properties of BTC.

Put simply, it’s likely the Tezos Foundation is getting a substantial amount of money from sales of XTZ whether from initial allocation, from staking and delegation rewards, or both.

The supposed selling by these and other entities such as institutional investors is probably why XTZ’s price has been suppressed since the start with few exceptions.”

Guy goes on to mention several significant corporate partnerships which have given XTZ’s price a boost, including with game developer Ubisoft last April and Red Bull’s Formula 1 racing team in May. The music-focused non-fungible token (NFT) marketplace OneOf was built on Tezos and raised over $60 million in capital last year.

The YouTube host concludes his XTZ analysis with a price prediction.

“As poor as XTZ’s price action has been, there’s no denying that its institutional partnerships are pretty impressive.

These partnerships, as well as Tezos’s continued upgrades and new DApps [decentralized applications], are starting to create some serious demand for XTZ.

This can clearly be seen in the positive price trend it’s been in since the previous bear market. If this momentum keeps up, I wager we could see XTZ retest its previous all-time high of $10 before the bull market is over.”

At time of writing, Tezos is down 4.76% to $4.26. It began 2022 at around $4.50 and surged to as high as $5.31 before sliding back on Wednesday.

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Here’s How High Cardano (ADA) Could Rise in Coming Months, According to Coin Bureau

by Dailyhodl

The host of popular crypto channel Coin Bureau is laying out the reasons why the price of Cardano (ADA) could recover and reach new all-time highs in the coming months.

Cardano surged to its all-time high of $3.10 in early September, but it has since endured a severe price correction of more than 59%.

The seventh-ranked crypto asset by market cap is currently trading at $1.26.

In a new video, Coin Bureau’s pseudonymous analyst Guy tells his 1.84 million YouTube subscribers that there are a number of reasons to still be bullish on Cardano.

“The good news is that there are lots of institutional funds with exposure to ADA, such as Grayscale’s Digital Large Cap Fund, and it looks like a few of these funds have been accumulating ADA over the last few months.

Many Cardano DApps [decentralized applications] are also scheduled to deploy in the coming months, and these are likely to create the demand ADA needs to conquer its previous all-time high.

Last but not least, ADA’s long-term technicals suggest it could rise as high as $4 in the coming months, assuming it can break that zone of price resistance at the $1.70 mark.”

Guy notes if ADA fails to break past $1.70, it could form a head-and-shoulder pattern, a price structure used to identify a trend reversal. Such a reversal could take ADA back to 2020 lows below $0.30, according to the analyst.

“I highly doubt this will happen though because Cardano has lots of upcoming milestones which could easily take ADA to new all-time highs.“

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Crypto Bull Market To Reach ‘Unsustainable’ Levels of Hype in 2022, Predicts Coin Bureau

by Dailyhodl

The host of popular crypto channel Coin Bureau is laying out his predictions about how the crypto bull run might come to an end during 2022.

In a new video, the analyst known as Guy tells his 1.83 million YouTube subscribers that a bear market will begin but only if one or a combination of several key factors comes to pass.

“The first condition is a catalyst of some kind that would create insane amounts of hype and drive crypto prices to unsustainable highs, such as the approval of a spot-Bitcoin ETF [exchange-traded fund].

I say this because the BTC top in the previous bull market happened on the same day that Bitcoin futures began trading on the CME [Chicago Mercantile Exchange] in 2017.

The likelihood that this will happen again with a spot-Bitcoin ETF is quite high, and my evidence for this is the record amounts of inflow we saw with the first Bitcoin Futures ETF when it was listed in the United States [in October of 2021].

Not surprisingly, inflows and trading volume have dropped off significantly since then.”

The Coin Bureau host is also concerned about how regulation might affect the future of cryptocurrencies in over half a dozen ways.

“The fourth and final condition that needs to be met for the bull market to end is a crypto-specific factor that crashes the crypto market. There’s really no shortage of black swans here.

A crackdown on Tether [USDT], a crackdown on stablecoins in general.

A crackdown on crypto developers because of the poorly worded provisions in the recently passed infrastructure bill, a crackdown on crypto miners and validators for the same reason.

A crackdown on crypto wallets in the name of anti-money laundering. A crackdown on DeFi [decentralized finance] for the same reason.

A crackdown on crypto mining because of environmental concerns [and] energy shortages.”

Looking at the metaverse, Guy follows up on a previous discussion about the nascent crypto sector. He thinks recent corporate interest in the space is a sign of increasing expansion and momentum.

“The metaverse narrative will continue along with the growth of NFTs [non-fungible tokens], blockchain gaming and other crypto niches that fall under the same umbrella…

They’ll also drive the adoption of cryptocurrency at the institutional level. We’ve already seen a dozen big-brand companies get into NFTs, the latest being Adidas, whose NFT collection managed to briefly become the biggest by trading volume.”



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Oracle Altcoin Chainlink (LINK) Still in a ‘Clear Uptrend’ According to Coin Bureau – Here’s When It Could Reach New All-Time Highs

by Dailyhodl

The host of popular crypto channel Coin Bureau says Chainlink (LINK) price action is still moving upwards despite a bumpy past few months.

In a new video, pseudonymous Coin Bureau host Guy tells his 1.81 million subscribers that LINK was a hot altcoin early in 2021 but has cooled off in the latter half of the year.

“Despite all of Chainlink’s announcements, partnerships, updates, and developments, LINK is only up 50% since the start of 2021.

This is much less than just about every other cryptocurrency, and even some stocks.

So, what gives?”

For starters, LINK is a DeFi [decentralized finance] token. 

DeFi was hot in 2020 and early 2021, but the hype has worn off over the last half-year or so.”

Guy also explains how the team behind Chainlink has been selling LINK off, creating enormous sell pressure on the oracle altcoin.

“The Chainlink team has been selling millions of LINK to finance Chainlink’s current operations and future expansion. 

Back then [before the team began selling LINK], LINK’s circulating supply was around 400 million.

Today, LINK’s circulating supply is slightly north of 467 million. 

Now, assuming an average price of around $20 per LINK, this works out to over $1.3 billion of sell pressure,

Which is honestly insane.”

Guy then explains that this sell pressure is good for Chainlink’s long-term price action but damaging in the short term.

Another driver of LINK’s relative underperformance is its status as a “speculative investment,” as Guy explains in detail.

“LINK’s primary use case is to pay for decentralized data feeds, which are required for almost every decentralized application to function.

In theory, this creates lots of demand for LINK, which should push up its price. 

But in practice, it had next to no effect because LINK isn’t legal tender. 

As such, any LINK that’s used to pay for data feeds is subsequently sold by node operators, and this selling pressure offsets the buying pressure created by the DApps [decentralized applications] which initially purchased the LINK.

Right now, the only demand driver for LINK is a speculative investment, and it looks like a lot of retail investors have taken their money elsewhere.”

Despite the insane sell pressure and decline in retail investor funding, Guy still thinks LINK is posed to reach new all-time highs soon.

“LINK is still in a clear uptrend, unlike many other cryptocurrencies that never fully recovered from the massive crash in May.

If this uptrend continues, Chainlink could reach new all-time highs in the coming months, assuming the bull market sticks around.”

Chainlink is trading at $20.22 at time of writing, down 1.51% on the day.

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Will Interest Rate Hikes Throw Bitcoin Into a Bear Market? Coin Bureau Analyzes Potential Threat to Crypto Bull Run

by Dailyhodl

The host of the popular crypto outlet Coin Bureau thinks the U.S. Federal Reserve’s plan to raise interest rates will have “profound implications” for the country’s economy and every asset class, including crypto and Bitcoin (BTC).

Federal Reserve officials have recently indicated they plan to scale back asset purchases and raise interest rates next year in an effort to fight inflation.

In a new video, pseudonymous trader Guy tells his 1.8 million YouTube subscribers that BTC has behaved a lot more like a “risk-on asset” in the past two years.

“In other words, portfolio managers and investors view it more as an asset class to generate strong returns and not one to act as a safe haven.”

The analyst also says there’s a “strong possibility” Bitcoin follows suit if stocks fall in the wake of the Fed raising interest rates.

“As we’ve seen over this year, when there were fears about potential tapering, the price of Bitcoin fell.

Hence if the Fed was to carry on with its plans to increase rates and rein in that monetary stimulus, then Bitcoin is likely to fall with all other risky assets.”

Guy, however, still thinks Bitcoin is the best long-term inflation hedge, as long as investors are prepared to deal with the violent price movements that will likely occur after the rate hikes.

“As we roll into the new year with persistent and stubborn inflation, investors are going to be looking for a lifeboat.

That’s why I think that Bitcoin is still the best bet against it.

If one can handle the short-term volatility that’s likely to come from the rate hikes, it’s perhaps the best bet to protect long-term purchasing power.”

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Will XRP’s Primary Competitor Outperform Crypto Markets in 2022? Coin Bureau Updates Outlook on Stellar Lumens (XLM)

by Dailyhodl

The host of crypto channel Coin Bureau is unveiling his outlook for Stellar (XLM) next year after the XRP competitor’s lackluster performance in 2021.

In a new video, pseudonymous analyst Guy tells his 1.78 million YouTube subscribers that while Stellar (XLM) doubled in price this year, the altcoin’s gains are “peanuts” compared to the performance of other crypto assets.

According to Guy, Stellar’s poor price performance can be traced to one key reason: sell pressure, specifically from the Stellar Development Foundation (SDF), a non-profit organization dedicated to the development and growth of the Stellar network.

“The foundation only received $3 million at its inception. To my knowledge, it hasn’t received any additional funding since then. This means that the foundation has been relying on its sales of XLM to pay its expenses and fund the expansion of Stellar’s ecosystem, and this isn’t speculation either. The foundation’s XLM  spending is clearly detailed on its mandate page, and I applaud it for its transparency.

The latest figures suggest that the foundation has spent over 5 billion of its 30 billion XLM so far, and the way back machine reveals that about 3 billion of this XLM were spent over the last year.

What’s more is that a paragraph at the end of the mandate notes, ‘as we said when we first announced this framework in November 2019, we intend to use or disperse most of these Lumens within 10 years, ideally sooner.’ In other words, the sell pressure isn’t going to stop any time soon.”

Guy also says that on top of the sustained selling pressure, XLM does not appear to have many demand drivers. Institutional investors are shying away from the crypto asset possibly due to the regulatory uncertainty related to XRP, according to the crypto analyst.

However, Guy says that favorable results from SDF’s partnership with MoneyGram may allow XLM to get back to its January 3rd, 2018 record high of $0.87.

In October, the remittance giant announced that it is integrating the Stellar blockchain into its network, enabling cash funding and payouts in local currency for consumers using Stellar USD Coin (USDC).

“The only demand for XLM is coming from the institutions the Stellar Development Foundation has partnered with and these partnerships are only starting to reach their final form. On the bright side, this paints a pretty bullish picture for XLM in 2022, and I could see XLM re-testing its early 2018 highs if its MoneyGram partnership delivers on its promises. Stellar also has no shortage of upcoming milestones, which could attract both retail and institutional interest.”

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Bitcoin (BTC) $ 27,644.41 1.41%
Ethereum (ETH) $ 1,887.79 2.58%
Litecoin (LTC) $ 91.00 2.09%
Bitcoin Cash (BCH) $ 115.98 1.80%