How to make money on Arbitrum?Arbitrum is one of the most anticipated and discussed projects of 2022 and 2023. The Arbitrum network is already fully launched and many users are waiting for the release of the network's native token. In addition, the Arbitrum ecosystem is actively growing and developing, with many projects appearing literally out of nowhere, capturing the market and attracting huge liquidity. But the main question for all traders is how can we make money on it?
How to make money?
All projects on Arbitrum, including Arbitrum itself, will have their own native tokens sooner or later. The more popular Arbitrum is, the higher the potential value of the Arbitrum native token and native tokens of projects that are built in the Arbitrum ecosystem is. This is the most important thing for us.
The main task of a trader is to find the most promising projects on Arbitrum, keep track of when the token appears and look for profitable trading opportunities.
Considering that our reader already has a trading strategy and knows how to trade, our goal is to tell you about the most interesting projects that you can make money on.
Prospective projects with a token
1. $GMX – a decentralized futures exchange
2. $GNS – margin trading
3. $DPX – on-chain options
4. $MAGIC – a gaming ecosystem
5. $VELA – a decentralized futures exchange
6. $RDNT – an omnichannel credit protocol
7. $MVX – margin trading
8. $GRAIL – a decentralized exchange
9. $PLS – a liquidity market
10. $VESTA – a loan protocol
11. $PREMIA – on-chain options
What to do next?
Search for good trading opportunities
Look for promising new projects on Arbitrum
Stay tuned for news on the launch of the Arbitrum native token
Check our ideas about ZK Narrative
and Asset tokenization trend
Tell us what do you think about Arbitrum in a comments section
Additionaly, write down in the comments section what narrative are you interested in the most: ZK, Asset tokenization or Arbitrum.
We will prepare more detailed info about it for you! Thanks
GMX
$GMX/#BTC [#GMX]: BBand_Breakout Super-TrendOn the $GMX / $BTC chart, we can see a Bollinger Band breakout and a Super Trend pattern. Both indicators are indicating a bullish trend, with the Bollinger Band indicating a probable positive trend as the price has moved outside of the upper band and the Super Trend indicating a bullish trend. Because both indicators are in sync, this is a stronger bullish indication. To buy at the current price range and aim for higher levels would be a solid option. Our analysis indicates that the key resistance levels are at 0.003243 | 0.003525 | 0.004068 and the major support zones are at 0.0027 | 0.002439 | 0.001896.
Technical Metrics :
Current price: 0.003257
24H Volume: 17.2855 Ƀ
24H Price change: 13.524%
- Pivot Points - Levels :
Resistance: 0.003243 | 0.003525 | 0.004068
Support: 0.0027 | 0.002439 | 0.001896
Indicators recommandation :
Oscillators: SELL
Moving Averages: STRONG_BUY
Technical Indicators Summary : BUY
- In-depth GMXBTC technical analysis on > Tradingview TA page
What do you think of this analysis? Share your insights and let's discuss in the comments below. Your like, follow and support would be greatly appreciated!
Welcome to the home of charting big: TradingView
Benefit from a ton of financial analysis features, instruments and data. Have a look around, and if you do choose to go with an upgraded plan, you'll get up to $30.
Discover it here
GMX prediction for the end of the yearThis week we have the CPI report and the FED meeting. I expect the stock market to go down and cypto to fallow it.
My price target for GMX for the end of the year are the following:
GMX/USDT short
Entry Range: $55 - 60
Price Target 1: $51
Price Target 2: $45
Price Target 3: $38
Stop Loss: $69
Exchange Tokens: CEX vs DEX📈This 1-year chart compares tokens from centralized and decentralized exchanges (in the latter considering those that allow derivatives/futures trading, not just swaps).
BTC was placed as a benchmark.
🥇The GMX token appreciated the most, especially after distrust of the ability of centralized exchanges to honor customer withdrawals.
🥈In second place is the Bitget token.
🥉And in third place is the Gains Network token.
👎The negative highlight goes to Binance's BNB.
GMX Uptrend Channel**I bought GMX**
GMX is inside a bull channel, currently at the bottom of the channel, which gives us a short stop entry opportunity.
Entry: 51.53
Starting target: 63.30 (22.8%)
Stop: 48.68 (5.52%)
Volume: 2%
GMXUSDT Inverse Head and Shoulders target $86GMX recently broke out of an Inverse Head and Shoulders, a pattern that technically starts bullish reversals. Based on the RSI, one last pull back to the 1D MA50 isn't out of the question but it is highly probable to see GMXUSDT at $86 (2.0 Fibonacci) by the end of the year.
Follow us, like the idea and leave a comment below!!
GMX: Sideways ChannelTrade setup : Trading in a Sideways Channel ($30-$60). Swing trader: Enter near support at $30 and Exit near resistance of $60. Trend traders: Wait for a breakout above $60 to signal Uptrend resumption. Our own fundamental research recently highlighted GMX as a big beneficiary of FTX fallout.
Trend : Uptrend on Short- and Medium-Term basis and Downtrend on Long-Term basis.
Momentum is Bullish ( MACD Line is above MACD Signal Line and RSI is above 55).
Support and Resistance : Nearest Support Zone is $30. The nearest Resistance Zone is $50, which it broke, then $60.
Derivatives, Synthetics, FOREX...Next Big Opportunity?For the next bull market cycle, I believe the derivatives sector, synthetic assets, equities, commodities and FOREX can provide an above-average exponential gain.
That's because the blockchain and cryptocurrency market tends to swallow the traditional market (I didn't say that... it was a trader with 30 years of experience who abandoned the traditional market).
In this comparison, I put some of the projects that I consider to have upside potential, after listening to some analysts and also from my own experience.
I also put on the chart the price of BTC and ETH for benchmark.
Projects and tokens:
Synthetix (SNX) (via Optimism or Ethereum)
GMX (GMX) (via Arbitrum or Avalanche)
Gains Network (GNS) (via Polygon)
dYdX (DYDX) (via Etherem)
Mango Markets (MNGO) (via Solana)
Perpetual Protocol (PERP) (via Optimism or Ethereum)
Deri Protocol (DERI) (via BSC or Arbitrum)