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Cryptocurrencies remained on edge in the first week of 2023.
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The hawkish Fed minutes led to more concerns about the industry.Â
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Tron, VIDT, and Huobi Token will likely dive during the weekend.
Cryptocurrency prices remained on edge in the first week of the year. Bitcoin remained in a consolidation phase below $17,000. Ethereum remained stuck at $1,200 while the total market cap of all cryptocurrencies remained below $900 billion. Here is the crypto price predictions for some of the top trending coins like Tron, Huobi Token, and VIDT.
TronÂ
Tron is a second-generation blockchain project that was started by Justin Sun. It is a blockchain operating system that handles billions of transactions on a daily basis. The network is also associated with other blockchain projects like Sun, JustLend, and JustStables. Also, it has an association with Huobi, BitTorrent Chain, and USDD.
TRX price crashed hard as concerns of its exposure to Huobi continued. There are concerns that Huobi could go out of business. As a result, Tron dropped to the lowest level since November 23. It has moved below all moving averages while oscillators like the MACD and the Relative Strength Index (RSI) drifted downwards. Therefore, the outlook of TRX during the weekend is bearish, with the next key support level to watch being at  $0.04.
How to buy Tron
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eToro
eToro is a global social investment brokerage company which offers over 75 cryptocurrencies to invest in. It offers crypto trading commission-free and users on the platform have the option to manually invest or socially invest. eToro even has a unique CopyTrader system which allows users to automatically copy the trades of popular investors.
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.
Huobi Token
Huobi Token (HT) came under pressure after the company announced a new round of layoffs. As we wrote in this article, there are concerns about the company’s liquidity. After the collapse of FTX, there are questions about crypto exchanges and their respective tokens. Huobi has not published its reserve data and its results.Â
As a result, it has seen outflows in the past few days. Data compiled by DeFi Llama showed that users have withdrawn over $114 million in the past month and $90 million in the past 24 hours. Therefore, the Hubi Token price will likely continue falling during the weekend.Â
How to buy Huobi Token
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Skilling
Skilling is a Scandinavian based cryptocurrency broker which has a desktop website as well as apps for iOS and Android devices. It supports over 50 cryptocurrencies and it has a demo account to allow users to gain familiarity with the platform. Skilling has no hidden fees, it is an officially regulated broker and it supports a wide range of payment methods.
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.
VIDT Datalink
VIDT Datalink is a blockchain project in the data storage industry. It was started by a group of artists in 2019 and then it transitioned into a decentralized autonomous organization (DAO). It is mostly used in data storage of NFTs and other valuable items.
VIDT price crashed to an all-time low in 2022 as concerns about its role in the blockchain industry emerged. It also dropped as demand for NFTs declined. This week, however, VIDT price rose to a high of $0.030, the highest point since December 19.Â
On the hourly chart, it has moved above its moving averages while the MACD moved above the neutral point. With volume being low, I suspect that the VIDT price will plunge during the weekend.
How to buy VIDT Token
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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.
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.