This article will analyze the ABBC coin according to www.coinmarketcap.com data. First, we will discuss the ABBC coin and its projects and make technical and graphic analyses. The analysis we will do in the weekly period will help the investors to take risks and manage their portfolios.
What is ABBC Coin?
ABBC Coin is a cryptocurrency that stands for “Alibabacoin.” It was initially associated with a project called AlibabaCoin, which aimed to create a decentralized e-commerce platform. However, it faced legal challenges from Alibaba Group, the multinational conglomerate, over trademark infringement. As a result, the project underwent rebranding and is now known as ABBC Foundation, with ABBC Coin as its native cryptocurrency.
ABBC Coin is built on a blockchain platform that utilizes a hybrid consensus mechanism combining proof-of-work (PoW) and proof-of-stake (PoS). It aims to facilitate secure and efficient transactions, smart contracts, and decentralized applications (dApps).
What are the projects of ABBC?
The projects associated with ABBC Coin include:
ABBC Wallet: ABBC Coin has its wallet, allowing users to store, send, and receive ABBC Coins securely.
Buyaladdin: Buyaladdin is an online marketplace integrating cryptocurrency payments, including ABBC Coin, for various goods and services.
Facial Recognition Technology: ABBC Foundation has developed facial recognition technology, which they aim to implement in various sectors like security, payments, and user authentication.
Aladdin Pro: Aladdin Pro is a platform that offers investment opportunities in cryptocurrency mining, trading, and staking.
Factors Influencing ABBC Price
Several factors can influence the price of ABBC Coin:
Market Demand and Adoption: The overall demand for ABBC Coin and its adoption by users and businesses can significantly impact its price. Increased need and widespread acceptance can lead to price appreciation.
Market Sentiment: Like other cryptocurrencies, ABBC Coin can be influenced by market sentiment, which is driven by news, investor perceptions, regulatory developments, and market trends.
Technology and Development: The progress and success of ABBC Foundation in achieving its technological milestones, such as launching new features, partnerships, or dApps, can positively affect the coin’s value.
Competition: The presence of other cryptocurrencies or similar projects offering comparable features or solutions can affect the market competitiveness of ABBC Coin and, consequently, its price.
Overall Crypto Market Conditions: The broader market conditions and trends in the cryptocurrency industry can impact ABBC Coin’s price. Bitcoin’s price movement, market volatility, and general investor sentiment toward cryptocurrencies can influence its value.
It’s important to note that cryptocurrency prices can be highly volatile and are subject to market speculation and various external factors. Therefore, conducting thorough research and staying updated with the latest developments is advisable before making investment decisions.
ABBC COİN TECHNICAL ANALYSIS
After seeing its historical high of $ 0.8100 in May 2021, ABBC dropped 94% by the end of July 2022, down to $ 0.0475. Although it goes up to $ 0.3081 with the purchases in the market, it is currently trading at $ 0.1001. According to www.coinmarketcap.com data, ABBC, which has a size of $137,509,840, has had a volume of $14,778,669 in the last twenty-four hours.
ABBC Chart Analysis
After testing its historical high of $0.8100 in May 2021, the ABBC coin entered a downtrend and slumped 94% to $0.0475 by July 2022. Trying to recover its losses, ABBC coin rose to $ 0.3081 but again fell and tested $ 0.0645. ABBC coin, whose weekly chart we examined, stands on the whole support level. A weekly close below $0.0999 could increase the selling pressure on ABBC.
This article does not certain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their research when deciding. This article does not include investment advice or suggestions. Every investment and trading move involves risk, and readers should perform their analysis when determining.
