There are now 19 crypto billionaires according to an update of the Forbes crypto rich list. When the list launched in 2018 the threshold was $350 million – now it’s a billion, and this year has seen seven more editions.
A caveat: All crypto billionaires are either founders or associated with crypto projects and exchanges. The Binance CEO and founder Changpeng “CZ” Zhao is the richest man in the industry with an estimated $96 billion, for example, and he’s now the 19th richest person in the world.
While becoming a billionaire is not a likely investment goal for crypto traders, it was this time last year that CBS News reported 100,000 newly minted Bitcoin millionaires. If Bitcoin or indeed hundreds of altcoins can reach an all-time high again in 2022 there’s always the chance of making a good return on investment.
Here we’ll look at the price analysis of Bitcoin, Ethereum, EverGrow Coin, Dogecoin, and BNB.
Bitcoin has lost -2.75% in price over the last 24 hours. It’s down from a local high of $48,000 to a price of $45,400 as of April 6. This is a worrying move for Bitcoin bulls who were hoping to see BTC break through its 200-day SMA currently at $48,277.
Nevertheless, Bitcoin is still in bullish territory with its 20-week SMA at $43,884 and its 21-week EMA at $44,294. Bitcoin broke past these important indicators at the close of the week’s trading on March 27. The following two candles have been in the red with wicks brushing both the 200-SMA and the 21-week EMA.
If Bitcoin can find support for current prices it would be a strong indication of a new bull market in April 2022.
Ethereum is down 4.93% in price over the past day, and 1.56% down over the past week. ETH is currently valued at $3,358.
Ethereum’s growth saw it start this week’s trading above its 200-day SMA, currently at $3,489. Last week, Ethereum closed trading with a tall green candle while Bitcoin closed the week in the red. There’s buzz around Ethereum now as it plans to switch to a new consensus mechanism that should drop gas fees and speed up the network.
Ethereum will need to hold current prices as it risks falling below its 20-week SMA, currently at $3,268.
EverGrow Coin (EGC)
EverGrow Coin is up 2.5% from local lows in April so far and has growth potential as a crypto newcomer with unique utility drops this month. The token price of EGC is $0.000000428514 and with a market cap of $230 million, it’s this kind of project that can see rapid growth for investors.
EverGrow Coin has announced the roll-out of a new NFT marketplace on the BNB Chain, which also allows NFT lending for the first time. NFT owners can put up their assets as collateral in return for crypto loans. It’s a unique mechanism that will attract new users wanting to generate passive income from NFTs without selling them.
With a metaverse integration planned before the end of 2022, and a new content subscription platform called Crator dropping soon, EverGrow Coin is one to watch for investors.
Doge has grown 7.7% in the past 24 hours – adding to a week’s growth of 12.4%. DOGE got a boost on Monday as documents revealed Elon Musk had become the largest Twitter shareholder. This boosted Dogecoin due to its popularity with the Tesla CEO (you can charge a Tesla in Santa Monica using DOGE) but also because it could see the meme-coin added to Twitter payments.
DOGE this week broke above its 20-week SMA at $0.1529 and its 21-week EMA at $1.607. It’s currently trading at $0.1619. Yesterday Dogecoin nearly passed its 200-day SMA up at $1.831 though fell back quickly to hold support at $0.16.
BNB is down 2.8% today following three weeks of green candles. BNB is currently trading at $441.2 which is above the 21-week EMA ($433.4) but unable to break the 20-week SMA at $452.9.
BNB appears to be trading sideways this week and has not gotten close to the 200-day SMA at $468.5. The 24-hour trading volume of BNB is also lower than its nearest rival LUNA, which has a market cap of $41 billion compared to BNB’s $72.9 billion.
BNB will need to hold its current levels and keep pushing higher if it’s to reach a new all-time high, as it did in early May last year when it reached $690.
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