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Raca coin price analysis 2022

Navigasi - Raca Coin or Radio Caca is a decentralized organization (DAO) operated by internet native individuals around the world who have one vision to build a bold new virtual world.

Raca coin price analysis 2022
Raca coin price analysis 2022

Reporting from Coinmarketcap, Radio Caca owns the original token. (Radio Caca Token, RACA, RACA Coin, RacaArmy, Radio Caca Coin, Metamon, Metamon Island, Metaverse, play-to-earn, GameFi, The Universal Metaverse, USM).

Radio Caca is the native token for Metaverse Universal. Radio Caca is also the exclusive manager of NFT's "Maye Musk Mystery Box". USM Lab is the creator of USM and P2E blockchain games.

Universal metaverse (USM) is a 3D virtual world of Planet where users can own land, construct buildings such as shops and art galleries, create and play games.

Coin Raca Price

Based on Coinmarketcap data, Thursday (7/4/2022), the price of RACA is IDR 26.04 with a 24-hour trading volume of IDR 723,738,161,093.

RACA is down 9.72 percent in the last 24 hours. Meanwhile, Coinmarketcap's current rating is 221 with a market capitalization of IDR 7,825,853,657,423. Until now, there has been a supply circulation of 300,525,100,920 RACA from a maximum supply of 500 billion RACA.

Previously, the price of bitcoin and cryptocurrencies at the top seemed to be still weakening, Thursday morning, April 7, 2022. The crypto market began to sluggish since yesterday which was stung by the hawkish sentiment from the Fed.

Based on data from Coinmarketcap, Thursday morning, the crypto with the largest market cap, Bitcoin (BTC) fell 4.36 percent in the last 24 hours and 7.06 percent in the week.

Currently, the bitcoin price is at the level of USD 43,899.71 per coin or equivalent to IDR 631.3 million (assuming an exchange rate of IDR 14,380 per US dollar).

Ethereum (ETH) is also still weak. In the last 24 hours, ETH fell 5.89 percent and 5.04 percent in the week. With that said, ETH is currently at USD 3,231.00 per coin.

The next cryptocurrency, Binance coin (BNB) yesterday was the only cryptocurrency to strengthen, now it must also weaken. In the last 24 hours BNB fell 4.70 percent and 3.64 percent for the week, respectively. This makes BNB priced at USD 427.39 per coin.

Then Cardano (ADA) is also still in the red zone. In the past day the ADA slumped 7.56 percent and 8.03 percent for the week. That way, ADA is at USD 1.10 per coin.

Meanwhile, Solana (SOL) is still weak since yesterday. In the last one day SOL fell 7.87 percent and 1.01 percent for the week. Currently, the price of SOL is at the level of USD 119.25 per coin.

XRP must now also be willing to return to the red zone. In the past day, XRP slumped 4.72 percent and 9.72 percent in the week, respectively. That way, XRP is now priced at USD 0.7786 per coin.

Terra (LUNA) also fell today. Terra is down 5.57 percent in the last 24 hours, but is still slightly up 1.25 percent in the week. Currently Terra is priced at USD 108.71 per coin.

Stablecoins such as Tether (USDT) and USD coin (USDC), both still experience opposite price movements. USDT has gained 0.01 percent in the last 24 hours after the last few days of weakness. Currently the price is still holding at USD 1.00 per coin.

Meanwhile, USDC had to weaken 0.02 percent in the past day to keep the price at USD 0.9997 per coin.

JP Morgan Analyst Says Crypto Rally Will End Soon

Earlier, global investment bank JP Morgan warned about the cryptocurrency market that it would see limited gains or even an end to the ongoing rally.

JP Morgan sees stablecoins of the total cryptocurrency market value as an indicator of a potential rally or decline. Previously, while stablecoins accounted for nearly 10 percent of the total crypto market cap, JP Morgan analyst Panigirtzoglou said it represented further gains for the crypto market.

In a note issued last week, he explained that stablecoins in the total crypto market cap no longer look excessive.

“The share of this Stablecoin is currently below 7 percent which is bringing it back into trend since 2020,” said Panigirtzoglou as quoted from Bitcoin.com, Wednesday, April 6, 2022.

As a result, we believe further upside for the crypto market from here is likely to be more limited or even over.

Panigirtzoglou pointed to bitcoin (BTC) and Ethereum (ETH) prices strengthening in early March following financial sanctions imposed on Russia by Western countries following its invasion of Ukraine.

“These sanctions have raised hopes that cryptocurrencies will be used more widely in the future to circumvent the traditional banking system given that cryptocurrencies are not tied to or dependent on any government,” said Panigirtzoglou.

However, citing stablecoin indicators, JP Morgan analysts warn the rally seen in crypto markets may be coming to an end.

In February, JP Morgan estimated the long-term price of Bitcoin would reach USD 150,000. Then, in January, the bank conducted a client survey and found the majority of respondents expected the price of BTC to hit USD 60,000 or more this year.