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Shorting BTC againIn our last Bitcoin analysis with our TTW (trend-time-weight) system, we clearly positioned our portfolios for a very likely steady decline in the value of BTC with a target of $20K. Now that we are here, BTC is in a stage 4 (bearish), entering the 210 MA average on the weekly chart (the reference for a bearish market in the mid and long run). Under no circumstances should we find buying opportunities right now if an active trading approach is implemented, only if a passive approach is sought. Since early summer, BTC has been at a support which, if breached to the downside, the token could reach $11K-$9K levels. The RSI on the weekly chart is clearly bearish, at minus 34, and the MACD is clearly showing a downtrend that we could take advantage of with a quantitative trend-following strategy. The probability of a trend reversal is actually very small in percentage terms, because the trend should first go through a stage 1, and then stage 2, but now it is still in stage 4, and it is quite a long way off (6-12 months, at least). In terms of all our chartist, space-temporal, fundamental, economic and manipulative analysis, the most likely scenario is a downtrend to around $11,000 in the next few months. Of course, we never know the future, and we are also prepared for a bullish pullback even if it is a very unlikely scenario, but professionally I would not see BTC as an interesting buy until the token reaches a value of around $30 000. Strategy: - Sell Stop: 16.500. - 1st Stop Loss (0.25% of our portfolio value): 20.100. - 2nd Stop Loss (0.5% of the value of our portfolio): 22.000 - 1st Take Profit (50% out): 11.000 - 2nd Take Profit (50% out): 9.000 - Margin requirements, swaps, spreads, execution model..: Depending on the derivatives exchange you use.
COINBASE:BTCUSDShort
by blockmas
Crypto101 - What is DeFi & Blockchain ?Hi Traders, Investors and Speculators📈📉 Ev here. Been trading crypto since 2017 and later got into stocks. I have 3 board exams on financial markets and studied economics from a top tier university for a year. Whether you've just gotten into crypto trading or you're trying to expand your knowledge on what this space has to offer; this post is for you! Decentralized finance or DeFi, is a financial ecosystem based on blockchain technology. So lets recap, what Is a blockchain exactly? Blockchain is a software technology, it is basically computer coding that creates a usable service like an app or website for the public. Most blockchains are entirely open-source software. This means that anyone and everyone can view its code. The first-ever implementation of Blockchain was originally written in C++ (coding language). Blockchain and it's possible use cases was first introduced to the world in the Bitcoin Whitepaper, written by the infamous Satoshi Nakamoto (the pseudonym used by the creator or creators of BTC). A blockchain is an online database that is shared to many computer networks. This means that if one computer in the network fails, the data is unaffected and transactions carries on. It is not dependent on one single data storage facility. As a database, a blockchain stores information electronically in digital format. A blockchain collects information in groups, known as blocks, that holds many sets of information (like time of transactions, amounts etc.). Blocks have certain storage capacities and, when filled, are closed and linked to the previously filled block, forming a chain of data known as the blockchain. An online database usually structures its data into tables, whereas a blockchain, as its name implies, structures its data into "3D chunks" (blocks) that link to each other. For easy reference and transparency, each block in the chain is given an exact timestamp when it is added to the chain. The revolutionary innovation idea behind blockchain is that it guarantees the truthfulness and security of data and generates trust without the need for a government/private institution to validate it. Back to DeFi - In centralized finance , your money is held by banks and corporations whose main goal is to make money . The financial system is full of third parties who facilitate money movement between parties, with each one charging fees for using their services. The idea behind DeFi was to create a system that cuts out these third parties, their fees and the time spent on all the interaction between them. Defi is a technology built on top of blockchain - it can be an app or a website for example, which means that is was written in code language by software programmers. It lets users buy and sell virtual assets (like crypto and NFT's) and use financial services as a form of investment or financing without middlemen/banks. This means you can borrow, lend and invest - but without a centralized banking institution. In summary, DeFi is a subcategory within the broader crypto space. DeFi offers many of the services of the mainstream financial world but controlled by the masses instead of a central entity. And instead of your information being filed on paper and stored by a banker, your information is captured digitally and stored in a block with your permission. Many of the initial DeFi applications were built on Ethereum (which is a blockchain technology, but the code is different to Bitcoin's, in other words it operates/works differently). The majority of money in DeFi remains concentrated there. Lending may have started it all, but DeFi applications now have many use cases, giving participants access to saving, investing, trading, market-making and more. A prime example of such a market is PancakeSwap (CAKEUSDT). PancakeSwap is a decentralized exchange native to BNB Chain (Binance chain). In other words, it shares some similarities with established platforms like UniSwap in that users can swap their coins for other coins. The only difference is that PancakeSwap focuses on BEP20 tokens – a specific token standard developed by Binance . The BEP20 standard is essentially a checklist of functions new tokens must be able to perform in order to be compatible with the broader Binance ecosystem of dapps, wallets and other services. PancakeSwap uses liquidity pools instead of counterparties/orders from other traders. A liquidity pool in this context refers to funds deposited by investors – which can be anyone from around the world – into smart contracts for the aim of providing liquidity to traders. With this system, buyers do not have to wait to be matched with sellers, or vice versa. Whenever someone wants to trade one token for another, they simply deposit the token they have into the pool and withdraw the other token they wish to receive. That said, PancakeSwap is not just for swapping coins. You can also take up the role of a liquidity provider (that is, you can deposit tokens in a liquidity pool for the chance of earning a share of trading fees paid by those trading against the pool in question). Yield Farming is another income-generating opportunity available on PancakeSwap. With this, you can farm for a token called CAKE. So why would you want a token? Tokens are like the money video-game players earn while killing monsters, money they can use to buy gear or weapons. I personally love collecting my Glimmer in Destiny 2. But with blockchains, tokens aren't limited. They can be earned in one way and used in lots of other ways. They usually represent either ownership in something or access to some service. For example, in the Brave browser, ads can only be bought using basic attention token (BAT). I think I'll cover more on this in another post, otherwise this will become a too long read. Final Thoughts 💭 Even though banks are slow and inefficient (to name only a few of the problems), there is still something that comes with using a bank that crypto cannot (yet fully) offer - guarantees and peace of mind. At least at this point. I believe in a future where blockchain is easily accessible, open but at the same time protects user privacy, transparent, decentralized and safe. But the truth is, we're still far away from that. Blockchain is in its infancy, being used by too many opportunists and crooks. So be careful when you invest in DeFi. The beautiful dream of blockchain still contains too many scammers that have no intention of cutting out banks; instead they want to get to the bank FIRST. __________________________ 👀Follow us here on TradingView for daily updates and trade ideas on crypto , stocks and commodities 📉 Hit like & Follow 🔔 We thank you for your support ! CryptoCheck
Education
by CryptoCheck-
59
WBT | WhiteBIT Token | Cup and Handle Pattern | Bullish VolumeWhat is WhiteBIT Token? WBT is a utility token of the largest European cryptocurrency exchange, WhiteBIT. The platform was established in 2018 and has already become one of the leading crypto exchanges with 3+ mln users worldwide. They launched their token on August 22 (this month). As the price is developing we can see that the first pattern that is taking shape on the 4 hour time frame is a "Cup and Handle Pattern". This is a bullish pattern now showing that the price has a very high potential for the next bullish wave. I am keeping conservative targets for the time being for the 3-rd wave development of the Elliot Wave but it can also extend up to the 5-the wave and to complete probably higher than the 5-th wave that I have pointed out on the chart. However considering the increase of the volume that the token should have, considering that it is very new, the price should rise faster during the coming days. Thank you and Good Luck! Types of Cup & Handle Pattern When The Cup & Handle Pattern is completed in a Bullish Trend it is classified as a "Bullish Trend Continuation Pattern" When The Cup & Handle Pattern is completed in a Bearish Trend it is classified as a "Bearish Trend Continuation Pattern" Targets A minimum profit target for this pattern is the measured distance between the bottom and top of the cup. This distance is added to the price in the sharing area. This is the minimum profit target that applies to this model and we should know that the price may also continue the movement of the major trend. For more details check the idea below: How is The Cup & Handle Pattern Formed And Traded?:
Long
by KlejdiCuni
18
Chainlink lesson.Today I am posting brief . This is Chainlink on daily chart moving in downtrend channel from ATH above circa 50 $. It's technically in bear market as other tokens and altcoins, below MA200 weekly. I added some Fibonacchi and Fib circles. This chart also contains green historical support. Fractal showing how could, or would progress into a near future. Fundamentals are also against BTC and Ethereum projects. Lower mining income could lead them to capitulate. That way miners difficulty go down. ... that's why and how I 'm think LINK probably melt below 3 Dollars and visit Fibo 382. Let it monitor. Emv o. *This is not any financial advice.
COINBASE:LINKUSD
by Emvo10
6
Ripple records $408 million sold in Q2TL;DR Breakdown Swell ODL volume expanded 9x YoY during the last quarter of 2022. In Q2, the blockchain organization sold more than $408 million in XRP tokens. Be that as it may, both the cost and volume of the XRP declined in the midst of specific market factors. Blockchain installment organization Ripple delivered its Q2 monetary report on Friday, itemizing an amazing development in exchanges and On-Demand Liquidity (ODL) volume, regardless of the new accident of the cryptographic money market. Wave's ODL expanded 9x Swell said Q2 2022 was a record quarter for its On-Demand Liquidity further extended past installment and conventional settlement administrations, subsequently raising the volume by up to 9x year-over-year. ODL is a liquidity stage that use XRP to work with minimal expense cross-line installments on RippleNet. Swell expressed the majority of the volume in Q2 came from depository streams and mass installments. The organization additionally referenced that it sold $408.9 million XRP tokens in the past quarter through its ODL administrations, contrasted with the $273 million XRPs it sold in Q1 of the year. The report peruses that how much XRP sold during Q2 likens to around 0.47% of XRP's worldwide volume. At last, the expansion in XRP deals credits to the development and reception of ODL. "Swell has kept on taking part in deals exclusively connected with ODL and these volumes have sloped up significantly as Ripple's ODL business extended all around the world." Swell likewise noticed an enormous expansion in exchange counts. Per the report, the exchanges on the XRP Ledger additionally expanded to around 114.6 million, which represented $58.3 billion or 126.5 billion XRP in volume. XRP value, the volume endures a shot Regardless of the ODL's development, the cost of XRP and everyday exchanged volume endured a shot in the midst of the negative condition of cryptographic money and the more extensive resources market. XRP volume dropped by 22% QoQ, from a typical everyday volume of $1.1 billion to $862 million, per the report. During the hour of composing, XRP was up more than 4% to $0.371 during the 24hrs time period. The market capitalization was at $17.9 billion from a coursing supply of 48.34 billion XRP tokens. LIKE COMMENT AND SHARE.
KRAKEN:XRPUSDLong
by IPatrice
Will Bitcoin go to $20K in 6 months?Bitcoin is in a very dangerous (bearish) situation by each quantitative metric in financial analysis -technical, fundamental and manipulative-. The mid-trend is clearly bearish, with a ~33 RSI in the weekly chart, and a ~46 RSI in the monthly chart, as well as bearish moving averages (210, 70, 14), and the price under them. The price is experiencing some corrections and volatility around the $30K-$28K support, and even if its still reliable a pull-back an a restart of a 2 type trend (bullish) the odds are more bearish (65% vs 35% - would I say without demos). Based on the TTW analysis, the most probable scenario is that BTC will be having movements between $28K and $35k for some weeks or months, making a lot of retail traders to enter in the wrong break points and institutionals to wait for the price to go to support levels around $20K at the end of the year. This is the most probable scenario, but each active quant fund manager should have its own muti-strategy bots for each occasion , including the beginning of a new type 2 trend. I am using financial engineering to short BTC futures in different key points, and I am bullish in the long-run, but all the analysis indicates that in the next months the most probable scenario is a decrease in demand of this security token, so it would be more convenient to implement an active, not a passive investment approach.
COINBASE:BTCUSDShort
by blockmas
Bitcoin - Is choppy price action due to end in a week?Bitcoin continues its choppy price action within the rectangle pattern (neutral zone). Its recent failures to move substantially higher from the resistance level suggest that not enough buyers are stepping into the market. That is also reflected in the low volume, which is significantly lower than just a few months ago. In addition to that, on 15th June 2022, the FED is set to increase interest rates and proceed with further steps toward economic tightening. We expect these developments to put more pressure on the U.S. stock market, to which Bitcoin is highly correlated. As a result, we expect the stock market to halt the bear market rally and reverse downward. Therefore, we have no reason to change our bearish view on BTCUSD; our price target stays at 25 000 USD. Illustration 1.01 The picture shows the hourly chart of BTCUSD. It can be observed that Bitcoin has been moving mostly sideways for the past few weeks. As a result, the rectangle was formed; the upper bound acts as resistance while the lower bound acts as support. Red arrows indicate recent false bullish breakouts from the pattern. Technical analysis - daily time frame MACD is bullish but stays in the bearish area. Stochastic is bullish. RSI is neutral. DM+ and DM- produce whipsaws. ADX declines. Overall, the daily time frame is neutral. Illustration 1.02 The picture above shows the difference in volume size between the previous bull market and the current bear market. Technical analysis - weekly time frame RSI, MACD, Stochastic, DM+, and DM- are all bearish. Overall, the weekly time frame is bearish. Please feel free to express your ideas and thoughts in the comment section. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not serve as a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
BITSTAMP:BTCUSDShort
by Tradersweekly
12
Tron’s TRX Burn Total Exceeds 7.7 TrillionThe Tron network has figured out how to beat the remainder of the digital forms of money in the midst of the as of late expanded bear pressure. Tron's local token TRX has flooded by more than 25% in the beyond 30 days. In a bid to help this increment the organization is continually executing different consumes. Very nearly 300 million TRX consumed Justin Sun, Tron's head, informed that another very nearly 300 billion TRX tokens have been shipped off a dead wallet. The exchange was worth around $24 billion. The token is exchanging at a typical cost of $0.079, at the press time. According to the Tron people group, in excess of 385 billion coins were singed on May 26, 2022, to back the cycle. In the mean time, two other comparative exchanges were recorded by the Whale Alert as of now. More than $14.9 billion worth of 184 billion Tron tokens were moved to an obscure wallet. Notwithstanding, Tron hasn't asserted that these exchanges were important for their consume cycle. Commercial The Tron network has guaranteed that they are in a condition of flattening. This statement comes in as they have sent around 7.7 trillion TRX tokens to a dead wallet in only 30 weeks. The Tronscan referenced that TRX consumed comparing to the decentralized stablecoin USDD crossing 7.2 trillion tokens. Nonetheless, Sun looks hopeful as he holds back nothing trillion TRX consume mark. May saw enormous consume exchanges According to the information, the TRX consuming cycle saw an enormous spike in the long stretch of May. The spikes proceeded to contact the 1 trillion symbolic consume level two times this month. May 5, 2022, saw the send off of one more stablecoin USDD upheld by TRX. Nonetheless, the USDD has likewise outperformed a major milestone. The stablecoin has figured out how to fabricate a course of more than $600 billion. This huge achievement has come in the midst of the new Terre LUNA and UST memorable accident.
TLong
by DEinvestment
Bitcoin - The last lift up before the fall?Over the weekend, Bitcoin moved mostly between 28 500 USD and 31 000 USD. So far it has failed to make a new high above 31 411.48 USD; however, there is still some room for more upside before the fall we continue to forecast. Accordingly, we still remain bearish on Bitcoin as we expect it to make a new low below 25 000 USD. At the moment, we will pay close attention to the U.S. market indices and their ability to move higher, which we expect to lift up the price of Bitcoin in the process. In our opinion, that would be the last lift-up for BTC before another breakdown. However, that does not change our opinion; we still think that the current rally is a "dead cat bounce" Illustration 1.01 Bitcoin fully retraced to its 10-day simple moving average (white line) and then started to fall. (20-day SMA - blue line, 50-day SMA - red line) Technical analysis - daily time frame RSI left the oversold area; we will pay close attention to it. MACD shows signs of flattening. Stochastic is bullish. DM+ and DM- show the presence of the bearish trend. ADX contains a high value suggesting peaking conditions or extreme strength. Overall, the daily time frame is substantially less bearish than a week ago. Technical analysis - weekly time frame RSI, MACD, and Stochastic are all bearish. The same applies to DM+ and DM-. ADX increases. Overall, the weekly time frame remains bearish. Please feel free to express your ideas and thoughts in the comment section. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not serve as a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
BITSTAMP:BTCUSDShort
by Tradersweekly
8
Bitcoin - "A dead cat bounce"Bitcoin shows extreme volatility after hitting a low slightly above 25 000 USD and then erasing a loss while bouncing above 31 000 USD. The recent price action may leave many market participants perplexed and wondering whether the bottom is in and if the trend reverses to the upside. However, we stay adamant in our bearish notion and expect the price to give up its gains soon. Indeed, in our opinion, the recent price action represents “a dead cat bounce” rather than any significant change in market sentiment from bearish to bullish. Therefore, we consider the current valuation of BTCUSD as quite attractive for short-position (re)entry. Accordingly, our price target stays at 25 000 USD. Illustration 1.01 The price of BTC retraced towards its 10-day simple moving average; however, not entirely, which leaves some room for more upside in BTC. Though, in our opinion, the bearish trend of a higher degree remains intact. Technical analysis - daily time frame RSI is in the oversold area; if it manages to reverse to the upside and penetrate 30 points, then the price of BTCUSD might follow suit and bounce even higher towards the 33k-35k USD price tag (before falling to a new low). Stochastic points to the upside, which is bullish; however, it still oscillates in the lower zone. MACD, DM+, and DM- stay bearish. ADX shows peaking conditions or a very powerful downtrend. Overall, the daily time frame is bearish but leaves room for a little bit more bounce in the price of BTCUSD. Technical analysis - weekly time frame RSI, MACD, and Stochastic are all bearish. The same applies to DM+ and DM-. ADX started its growth just recently, suggesting this is not the late stage of the bear market. Overall, the weekly time frame is bearish. Please feel free to express your ideas and thoughts in the comment section. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not serve as a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
BITSTAMP:BTCUSDShort
by Tradersweekly
16
Are you buying $LUNA ¿? BUY CHEAPER!Terra $LUNA is very strong and very bullish for long term, right now it has a little down trend because of BTC and crypto market... Just keep doing DCA in $LUNA because if crypto market drops you have a real chance of buying $LUNA cheaper!! I recommend you to stake all your $LUNA on station.terra.money/wallet Remember: Smart Investors buy low and sell high, Retails buy high and sell low... I won't sell any single $LUNA under $300 never, I just keep accumulating and doing DCA. I will let buying $LUNA when it hits $100 or more, but I never sell... I wanna 5x my money on this :) ALWAYS #DYOR & PURA VIDA!!
Long
by ThePureLife
2
✅ Don't miss the great buy opportunity in MATICUSDT Hello my friends, today I want to talk with you about maticusdt chart price zoomed the resistance and trades above it now price come back and tested it and closing with good separation that's mean there's buyers in this area volume profile confirms it through analysis my analysis I still think that price will continue to grow to our target for now the bull scenario seems more logical. So be ready for such scenario. lets see Enjoy the market This is an article, not financial advice, always do your own research. If you have any questions, you can write it in comments below, and I will answer them. And please don't forget to support this idea with your like and comment, thank you.
MLong
by ZAKNOGO
📌Cryptocurency World , coin &Token Types: The Ultimate Guide❗❗It’s important not to confuse the terms “cryptocurrencies” , "Coins " and “tokens,” Different type of them ,as there are fundamental differences that distinguish them. Summary : To put simply ,The two most common blockchain-based digital assets are cryptocurrencies and tokens. The biggest differentiation between the two is that cryptocurrencies have their own blockchains, whereas crypto tokens are built on an existing blockchain. What Is a Digital Asset? Broadly speaking, a digital asset is a non-tangible asset that is created, traded, and stored in a digital format. In the context of blockchain, digital assets include cryptocurrency and crypto tokens. What is a cryptocurrency coin? Cryptocurrency coin, like Bitcoin, is essentially a digital form of money that is backed up by a native blockchain The functions of a coin are strictly monetary — you can use it as a mean of payment, store of value, or as a speculative asset to trade, and essentially that’s it. The features of a coin are also similar to fiat money — it is fungible, divisible, and the supply is limited. By definition, a cryptocurrency coin serves only as a digital form of money. The most distinctive feature of a coin is that it is native to the blockchain it’s made on and operates independently from any other platform. Okay, then what is “altcoin”? This is essentially any cryptocurrency coin that has its own blockchain but is not Bitcoin. Some altcoins are just forks to Bitcoin, meaning that they base on Bitcoin’s open-source protocol but still have their own blockchains, like Litecoin. Others, like Monero or Ethereum, are completely independent blockchains. What is a token? The token is a non-native blockchain asset and its value goes beyond only monetary functions. Tokens also require another platform to exist and operate. For example, ETH is a cryptocurrency that is native to the Ethereum blockchain, which makes it a coin. However, one of the primary features of the Ethereum network is the ability to create new tokens within the network. The cryptocurrencies that are created on this network will be called tokens. For example, USDT — the most popular stablecoin pegged to the value of $USD is a token, which operates on the Ethereum blockchain. A cryptographic token is a digital unit of value that lives on the blockchain. There are four main types: 1-Payment tokens 2-Utility tokens 3-Security tokens 4-Non-fungible tokens Fungibility : All crypto tokens break down into two broad categories — non-fungible and fungible, with the latter being the most common type. Fungibility is a feature of a token which essentially means that one token is indistinguishable from another. In simple words, a dollar is always a dollar, and Bitcoin is always Bitcoin. You can exchange the $10 bills with your friend and each of you will still have the same value in the wallet. but Non-fungible tokens, or NFTs, are a type of cryptographic token — a digital representation of value that lives on the blockchain. NFTs can represent the value of physical assets. A painting, for instance. But they can also represent the value of digital assets, such as a short story that is only available online. NFTs have three characteristics that set them apart from other types of token: 1. THEY’RE UNIQUE -2. THEY’RE VERIFIABLE- 3. THEY’RE TRADEABLE -Utility Tokens: Utility tokens are a popular type of fungible tokens that you can think of as the chips at the casino. In the same way that you need to buy chips to play blackjack or poker, you need utility tokens to power the operations on the protocol. The most famous utility token example is Ether which powers all the transactions and smart contracts on the Ethereum network. As we just said before, ETH can be used as a means of payment, however, its primary purpose is to be utilized in the blockchain. Social Tokens (fan tokens):Social tokens can be a very interesting type of crypto utility asset that recently gained a lot of popularity among the crypto space and also presented the concept of tokenization to the broader public. In simple words, social tokens are backed by the reputation of an individual, brand, sports club, or just any community -Security Tokens vs Equity Tokens In simple, security tokens are common stock on the blockchain. These tokens are similar to the company shares held by the investors and companies usually issue voting rights through a blockchain platform. The tokens are liquidated to create an Equity Tokens. In other words, these tokens contribute an investment contract, where the Investors typically purchase in anticipation of future profits in the form of dividends, equal sharing of revenue generated and the normal appreciation process. Security tokens bridge the gap between the traditional financial sector and the blockchain framework; it’s one of the reasons banks have initiated the integrated Blockchain frameworks in their system. Issuing security tokens allows investors to raise funds through a thoroughly regulated digital share of its equity, asset or part of the revenue. The key difference between Security Token and Equity Token is that in the security token, an asset like real estate, gold etc. are used as collateral. However, in the case of Equity tokens, the shares of the company are diluted into tokens. We can place coins and tokens in different categories as you can see in the chart above, and some of them are common to other categories. As digital currencies are emerging, various other categories may be added in the future. -Governance token Governance token is the type of crypto asset that grants its holders decision-making rights over the project’s protocol, its product, and its features .it represent voting power on a blockchain project. They represent the main utility token of DeFi protocols since they distribute powers and rights to users via tokens. Governance discussions on Yearn Finance. With these tokens, one can create and vote on governance proposals. - Also Metaverse tokens are a unit of virtual currency used to make digital transactions within the metaverse. Since metaverses are built on the blockchain, transactions on underlying networks are near-instant. Blockchains are designed to ensure trust and security, making the metaverse the perfect environment for an economy free of corruption and financial fraud. -DeFi tokens represent a diverse set of cryptocurrencies native to automated, decentralized platforms that operate using smart contracts. These provide users' access to a suite of financial applications and services built on the different blockchains.
Education
by PRO_SMART_Trader
82
SUSHI (SushiSwap) Token Analysis 25/03/2022Fundamental Analysis: SushiSwap (SUSHI) is an example of an automated market maker (AMM). An increasingly popular tool among cryptocurrency users, AMMs are decentralized exchanges which use smart contracts to create markets for any given pair of tokens. SushiSwap launched in September 2020 as a fork of Uniswap, the AMM which has become synonymous with the decentralized finance (DeFi) movement and associated trading boom in DeFi tokens. SushiSwap aims to diversify the AMM market and also add additional features not previously present on Uniswap, such as increased rewards for network participants via its in-house token, SUSHI. Who Are the Founders of SushiSwap? SushiSwap was founded by the pseudonymous entity known only as Chef Nomi. Little is known about Chef Nomi, or his or her impetus for forking off from Uniswap. The project has two other pseudonymous co-founders, sushiswap and 0xMaki, also known as just Maki. Between them, they handle SushiSwap’s code, product development and business operations. More recently, de facto ownership of SushiSwap was passed to Sam Bankman-Fried, CEO of derivatives exchange FTX and quantitative trading startup Alameda Research. Bankman-Fried is a well-known participant and cryptocurrency market commentator, regularly appearing in media interviews. SushiSwap primarily exists as an AMM, through which automated trading liquidity is set up between any two cryptocurrency assets. Its main audience is DeFi traders and associated entities looking to capitalize on the boom in project tokens and create liquidity. AMMs do away with order books entirely while avoiding problems such as liquidity issues, which hamper traditional decentralized exchanges. SushiSwap aims to improve on the offerings of its parent, Uniswap, by increasing the impact users can have on its operations and future. The platform takes a 0.3% cut from transactions occurring in its liquidity pools, while its SUSHI token is used to reward users portions of those fees. SUSHI also entitles users to governance rights. SushiSwap attempts to mitigate the traditional risks of depositing funds in smart contracts by upping the governance powers of its users. The anonymity of its developers poses questions beyond a technical standpoint. In September 2020, for example, Chef Nomi was involved in a spat with users after withdrawing 38,000 in Ethereum (ETH) from SushiSwap. The funds were subsequently returned, with Chef Nomi publicly apologizing for doing so and calling the move a mistake. SushiSwap’s in-house token SUSHI is created at a rate of 100 tokens per block. The first 100,000 blocks had a block reward of 1,000 SUSHI. The supply of SUSHI will depend on the block rate. At approximately 6,500 per day, and therefore 650,000 newly-minted tokens per day, there will be roughly 326 million tokens in circulation by September 2021, a year after SushiSwap first launched. SUSHI had no premine, and began to be minted at Ethereum block number 10,750,000, beginning with a supply of zero tokens. The current CoinMarketCap ranking is #135, with a live market cap of $465,604,012 USD. It has a circulating supply of 127,244,443 SUSHI coins and a max. supply of 250,000,000 SUSHI coins. Alt-Season is Starting as the BTC.D of Bitcoin Dominance is Falling and Total Crypto Market Cap seems to be Bullish... Technical Analysis: we can clearly see the price of this Asset has lost 90% of its Value from its All Time High which is very undervalued and discounted for this Particular asset and is worth of investment as it is accumulating below 85%. There exist a Bullish Divergence of Price and MACD, which is a significant sign of Bullish Trend and Beginning of a new Cycle. there are 3 Targets Defined by Fibonacci Trend Base Extension tools to Project the height of the Upcoming Cycle.
Long
by BitonGroup
5