I was blown away this morning when after opening my Binance account to check the ‘Market Gainers’ section of my favorite altcoin exchange I found Moeda Loyalty Points (MDA) had jumped 50% overnight. I’ve noticed the price of this little-known cryptocurrency climbing all week and I have been expecting a natural pull back from the huge gains it has had recently. To my surprise, this coin has again skyrocketed, now perched more than 300% above its price point from just a few days ago.
On October 7th, Moeda (MDA) sat at US $.43, in a relatively stable (if not outright boring) pattern of sideways trading. Slightly down from the month before, slightly up on the day, watching Moeda (MDA) lately was a bit like watching paint dry. Now it’s the most exciting coin on the market as its value races up the crypto-charts, achieving a price of US $1.42 (and climbing) while writing this article.
What is Moeda (MDA)?
Basically, Moeda is a seed funding platform for local businesses. With Moeda (MDA), investments are made into projects enhancing sustainable practices and local growth. Entrepreneurs submit proposals to the program, and when selected, receive funding and mentoring to help them succeed. Seed projects must meet UN Sustainable Development Goals and are selected by the Moeda (MDA) team based on their overall impact on their community.
Investors seeking to make a social impact with their capital can use blockchain to invest and track the progress of their investment with transparency and accountability. From eco-social products to craft beer, Moeda has developed strategic partnerships to facilitate a more sustainable world.
Ok… But what caused the sudden rise in price?
A number of factors may be contributing to the gains experienced by Moeda (MDA) this week. Recent progress has led to a number of developments including the release of the team’s first seed project in August and a fiat pegged token deployed on the Moeda (MDA) ecosystem in September. Further, a digital account and wallet are anticipated this month as developers continue to meet their production goals.
Whether these developments can really justify the recent jump in price is unclear. Honestly, there is very little news out there hyping this project, and while I may be missing something entirely relevant (please comment below to fill me in), I think Moeda (MDA) (and a handful of other lesser-known altcoins) are benefiting from an overall excitement in blockchain projects that may soon translate into gains throughout the broader market.
What can we expect from Moeda’s (MDA) market performance going forward?
Moeda (MDA) has had its share of pumps and dumps (along with the rest of the market) throughout 2018. In early September, this coin shot up over US $.90, only to quickly fall back to earth, stabilizing once again just above US $.40. Longer-term investors will remember the glory days of early 2018 when Moeda (MDA) reached its ultimate peak of US $4.35. Of course, the entire coin market was worth near US $800 Billion at that time.
Whether Moeda can ever reach the heights it achieved in January will largely depend on a new influx of fiat injected once again into the broader altcoin market. While signs do point to another bull run boosting the price of our favorite investments in the near future, the fact that Moeda (MDA) can show gains of this size in an otherwise stable market must be seen as a testament to the power of this altcoin’s base, and the prowess of the Moeda (MDA) platform.
For those of us who are just finding out about this amazing altcoin, it may feel a bit late to buy in. From a technical perspective, a pullback should be expected in the near term before another jump forward brings new investors to the table. On the other hand, that’s what I thought yesterday, and the day before, and the day before that…
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
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Is Ethereum Still Searching For Its Bottom?
The crypto space has mostly been seeing drops in value during the last 30 days, and it was clear that the bear market of 2018 still has enough energy to cause further damage in this year as well. Most coins occasionally felt a slight growth, although it was not big enough to spark a real rally and shake off the bears.
When it comes to Ethereum, the coin has been dropping continuously since January 10th. ETH experienced high volatility ever since it broke down a $180 support on November 14th, 2018. A small rally starting on December 15th started taking ETH back up, although the highest it managed to reach since then was $159.58 on January 6th, 2019. Since then, the coin’s price entered another free fall, although it never dropped below $100 since then.
The coin seemingly found some stability in the final days of January, when it was trading at around $119, although another drop followed in the first days of February, and Ethereum nearly dropped to $100 on February 6th.
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1) A crypto Whale moves a large portion of XRP
Many have probably already heard the term “Crypto Whale,” as it is quite common to find discussions mentioning them and their activities. The term is a name used for coin holders which tend to buy, sell, or move massive amounts of digital currencies. These are usually professional investors with large funding who can impact the crypto market in any way they please, and make the prices rise or fall depending on their calculated business decisions.
They are called Whales because of the large amounts they move, which usually have a pretty big impact on the market. And, since they are so influential, there are many in the crypto space that have made it their mission to follow the activities of known Whales, and base their business decisions regarding the Whales’ movement.
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— TRON Arcade (@TRONArcade) February 9, 2019
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CryptoDungeons was originally developed to be a part of Ethereum’s network. However, the team has decided to bring it to TRON instead. Soon enough, the fans of the game will be able to experience its story, universe, and characters on TRON blockchain.
The game is centered around Heroes who can be bought and used for exploring dungeons, crafting various items, gathering food, and alike. The game also offers five races for players to choose from — Humans, Elves Dwarves, Orcs, and Angels. Additionally, there will also be four classes, including Warriors, Mages, Rogues, and Priests. Each class will have its own unique abilities, with the Warrior class being presented as an example. The abilities that this class features include Strike, Heavy Strike, Shield Wall, Shield Slam,…
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