The cryptocurrency market has regained some lost ground after yesterday’s defeat. At $1.78 trillion, its total cap has increased by 6.6% in the last 24 hours. This follows the relative lenient of sanctions against Russia for its military intervention in Ukraine, with markets semi-assured that the situation will not be too contagious to the rest of the world. And assuming things don’t go down even further in the coming hours and days, there is a possibility that the cryptocurrency market could recover even further. In case that happens, here is our pick of 5 cryptocurrencies to buy for a price boom this weekend.
5 Cryptocurrencies to Buy for a Price Boom This Weekend
1. Lucky Block (LBLOCK)
LBLOCK is up a substantial 31% in the last 24 hours, recovering from a big loss yesterday. At $0.00591299, it is down 35% in the past week, but is up 11% in the last 14 days. It has also increased by over 1,000% since it became tradable on January 27th.
LBLOCK is the native token of the Lucky Block lottery platform, which runs on Binance Smart Chain. This has already accumulated 39,000 holdersreleased just a month ago.
Users can participate in Lucky Block lottery draws by purchasing tickets using LBLOCK. Ticket holders have a chance to win 70% of the jackpot fund of each lottery, while 10% of each fund will be split evenly among all LBLOCK holders. This is regardless of whether they formally enter into a tie.
While Lucky Block is not expected to hold its first draw until March 25, it is already generating significant buzz for a new altcoin. In fact, Lucky Block recently proclaimed it the “fastest growing cryptocurrency in history” based on the fact that it reached a market cap of $1 billion in three weeks.
— Lucky Block 🤞 (@luckyblockcoin) February 21, 2022
LBLOCK is currently listed on PancakeSwap and LBANK Exchange, with more listings to come.
Check out our blog article about Lucky Block v2!
— Lucky Block 🤞 (@luckyblockcoin) February 24, 2022
2. Bitcoin (BTC)
BTC is up 9% today at $38,716. That means it is also 4% last week and 11% last fortnight.
BTC is quite volatile at the moment. Its relative strength index (purple above) went from less than 30 to 60 to less than 30 again and back to 60 within a few days. Its 30-day moving average (in red) has also dropped below its 200-day moving average (in blue), indicating a downtrend. However, typically, the 30-day averages do not stay below the 200-day averages for very long, suggesting that BTC could rise soon.
We are almost tired of repeating this now, but bitcoin remains a relatively safe bet in the cryptocurrency market, if only because the market does not recover with BTC rising first. This is what happened in 2017 and also what happened in 2020 and 2021. So if you expect the market to enjoy a big jump soon, you can also allocate part of your portfolio to BTC.
And make no mistake, many analysts think BTC is set for big things once the macroeconomic and political situation stabilizes. research company FSInsight has released a note to the investor earlier this month, predicting it could end the year at $200,000. Similarly, Bloomberg analyst Mike McGlone has long predicted a $100,000 level for BTC.
Digital asset resistant #Bitcoin, #Ethereum and the proliferation of crypto dollars could find a solid footing in 2022 in high inflation and asset prices, along with tension around #Russia and #Ukraine. The #1 cryptocurrency is showing divergent strength against equities. pic.twitter.com/6SO3WPzxCg
— Mike McGlone (@mikemcglone11) February 17, 2022
It is also worth mentioning that BTC now commands US$58.8 billion in institutional investment, significantly more than any other currency. The size of its market provides a solid foundation for making bigger gains in the future, which is why it is one of our 5 cryptocurrencies to buy for a price spike this weekend.
3. Earth (MOUNT)
LUNA is up an impressive 25% in the last 24 hours to $65.31. It has also increased by 30% over the past week and 25% over the last 14 days, as well as 4% over the past month.
LUNA indicators suggest that a breakout may have started. Its RSI has risen to 70, revealing strong momentum. At the same time, its 30-day average formed a golden cross with its 200 days. This could signal that it is moving up to new levels of support and resistance.
LUNA has been recovering in large part because Terra held a private sale of its stablecoin UST. Raising $1 billion, this sale will help create a bitcoin-denominated reserve for Terra, allowing it to support the value of the UST. This instilled market confidence in UST and Terra more generally, with LUNA rising as a result.
1/ The long-awaited [REDACTED] 💎3 is here!
— Terra (UST) 🌍 Developed by LUNA 🌕 (@terra_money) February 22, 2022
Terra is today one of the largest DeFi ecosystems on the market, accounting for $18.3 billion in total blocked value. It is arguable that this size gives you strong network effects that will help you grow even more. And with the Terra protocol burning LUNA every time a new UST is minted, LUNA could go up in price much more in the near future.
4. Creator (MKR)
At $1,876, MKR is up 22.5% in the last 24 hours. This price represents a 5% drop in the last seven days, and an 11% drop in the last 14.
The MKR chart shows promise that the altcoin could be on the cusp of triggering a rally. Its RSI has shot up to 60. Meanwhile, its 30-day average has pointed up and is about to cross its 200-day average.
In fact, the MKR remains 70% below its all-time high of $6,292, which was pulled back in May. So there’s a lot of room to go up, particularly when several analysts have predicted that 2022 will be the “year of the DAO.”
One of the main reasons why MKR is catching up now is that Maker has released ZK rollups for their platform. This will make Dai – the stablecoin operated by MakerDAO – more accessible to use. And by extension, it should increase the demand for MKR, which is used to stabilize the price of DAI.
Dai will be accessible to everyone again.
— Creator (@MakerDAO) February 22, 2022
5. The Sandbox (SAND)
The SAND is up 10% today, having rallied to $3.00. However, it has dropped 20% in the past week and 32% in the last 14 days.
The SAND is seriously oversold at the moment, as indicated by its 20% drop last week and its indicators. Its RSI has spent much of this week below 30, while its 30-day average looks like it cannot fall much lower from its 200-day average.
In other words, a major recovery is likely to come sooner or later. Particularly when SAND is the native token of Sandbox, one of the most promising ‘metaverse’ platforms on the market. Sandbox had a strong 2021, selling land for $4.3 million in early December. also turned $86 million in land sales only in the last week of November, indicating its potential once the market fully recovers.
More recently, it announced a partnership this month with major game publisher Ubisoft. Ubisoft will be bringing its IP to the platform, starting with the Rabbids. This is one of the many partnerships that Sandbox has announced recently, with a liaison with rapper Snoop Dogg being another notable example.
#TheSandbox The LAND map is growing! 🗺️
You could be neighbors with 👇
Tell us where would you place your LAND? 🤔 pic.twitter.com/6pZ0Whc4Zd
— The Sandbox (@TheSandboxGame) February 22, 2022
If that wasn’t enough, its parent company, Animoca Brands, grossed $358 million last month. It comes beyond the $93 million raised from leading venture capital fund SoftBank in early November. That’s why it’s one of our 5 cryptocurrencies to buy for a price boom this weekend.
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