#W (SPOT) entry range ( 0.1900- 0.2400) T.(0.6100) SL(0.1820)entry range ( 0.1900- 0.2400)
Target1 (0.3340) - Target2 (0.4250)- Target3 (0.6100)
SL .1D close below (0.1820)
Golden Advices.
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* collect the coin slowly in the entry range.
* Please calculate your losses before the entry.
* Do not enter any trade you find it not suitable for you.
* No FOMO - No Rush , it is a long journey.
Useful Tags.
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Wbtc
WARNING : Wrapped Bitcoin $WBTC Will Be DEPEGGED on October 8th!**** BINANCE:WBTC WILL BE DEPEGGED ON OCTOBER 8TH ****
BitGo has entered into a controversial partnership with Justin Sun. Anything Justin Sun has touched, has gone to ZERO. On October 8th, Justin Sun will have control/custody over Wrapped Bitcoin. When Justin Sun took over Huobi BTC, it depegged immediately. The same thing will happen to Wrapped Bitcoin on October 8th. If you have BINANCE:WBTC , you have a very limited time window to take a measure and protect your capital. BINANCE:WBTC will not be 1:1 backed by BTC starting October 8th.
#W/USDT#W
The price is moving in a cross channel on the 4-hour frame and adheres to it well, and the price rebounded from the lower border of the channel at the price of $0.530.
We have a tendency to stabilize above the Moving Average 100
We have an uptrend on the RSI that was broken to support the rise
Entry price is 0.600
The first goal is 0.690
The second goal is 0.770
The third goal is 0.855
#W/USDT | Wormhole#W
The price is moving in a downward channel and adheres to it perfectly on a 30-minute frame, about to break to the upside.
The currency has been listed on more than one trading platform, which gives it a strong bullish momentum
We have a downtrend on the RSI indicator about to occur. The fraction is up
Entry price is 1.06
The first goal is 1.19
The second goal is 1.39
the third goal is 1.60
Important bps spread on WBTC/BTCI was looking into the WBTC/BTC spreads fully expecting to see BTC trade at a premium over WBTC. Yes, WBTC is a well-known product with serious custodians (Anchorage) and audited but still, there is risk there. When you buy WBTC, you buy a liability. There should be a discount. Right?
Well, not really no. The WBTC/BTC arbitrage play is crowded enough that as the timeframe (1W, 1D, 3H, 1H, 30min, etc.) expands the spread is smoothed out by arbitrageurs doing their jobs. Thank you arbitrageurs! But what stands out to me, is that the only time the WBTC/BTC to dollar spreads are positive (BTC premias) is following large spot moves.
WBTC is useful.
DIGG Rebase tokenDIGG is an elastic rebasing token pegged to BTC, and governed by BadgerDAO. Every day at 3PM, the supply of DIGG expands or contracts to put supply side pressure to move price action accordingly.
This chart shows the calculated USD price of DIGG vs that of BTC. You can see an initial run up to $80K following launch, as well as a subsequent dump well below the BTC price. In early Feb, as BTC was making new ATH, DIGG once again outpegged BTC, perhaps due to individuals front-running a possible six-figure BTC price. DIGG then started dumping around Feb 14th.
Currently, DIGG is trading at a steep discount to wBTC. We have been accumulating our DIGG rewards and staking them (for ~150% APY currently) in anticipation of a return to the BTC peg. DIGG has been selling off, mainly, we believe because of the BTC selloff, but our prediction is a resumption of the BTC bull run or new ATH would spur additional interest in DIGG tokens, and return to price parity with BTC.
digg.netlify.app
UNISWAP:WBTCDIGG
BTC Throne Challenge 😱(WBTC beat BTC to over $200,000 in a Day)Like And Subscribe (Thanks for the support😊).
"BTC is King" I have heard this countless times without number but what happens when BTC backed brother stands a better chance of over throning BTC?
Before You say "Oh Makaveli that is so impossible🙄 ",
Wait! first let me introduce you to the younger coin brother that stand the chance to out run BTC faster any time BTC Lifts a leg up to make any Move because of the Usability of this younger coin brother.
This is no other coin than Wrapped BTC.
Everything changed for BTC Younger coin brother also Called WRAPPED BTC (WBTC) on the 10/01/2021,
Kindly Take a good look at the price action Performance of WBTC on 10 January 2021 on the Binance exchange
But first let's Understand What Is WBTC....
What is Wrapped Bitcoin ?
WBTC stands for Wrapped Bitcoin and is simply an ERC20 token that represents Bitcoin. One WBTC equals one BTC.
simply meaning that BTC can be converted into WBTC and vice-versa.
Wrapped Bitcoin is a tokenized version of Bitcoin (BTC) that runs on the Ethereum (ETH) blockchain.
Wrapped Bitcoin was first announced on October 26, 2018, and officially launched on January 31, 2019.
According to CoinMarketCap,WBTC is also backed by Bitcoin at a 1:1 ratio via a network of automatically monitored merchants and custodians,
ensuring that its price is pegged to Bitcoin at all times and allows users to transfer liquidity between the BTC and the ETH networks in a decentralized and autonomous manner.
WBTC is compliant with ERC-20 — the basic compatibility standard of the Ethereum blockchain — allowing it to be fully integrated into the latter’s ecosystem of decentralized exchanges,
crypto lending services, prediction markets and other ERC-20-enabled decentralized finance (DeFi) applications.
The goal is to bring Bitcoin’s price value into play and combine it with Ethereum’s programmability, Therefore the major Key advantage of WBTC is its integration into the world of Ethereum wallets, dapps, and smart contracts.
The concept of WBTC emerged in a bid to improve Bitcoin’s functionality and usability. Consequently, these tokens help provide more sophisticated financial services to traditional BTC holders.
Who Founded WBTC?
According to CoinMarketCap,the Wrapped Tokens project, of which WBTC is a part, wasn’t founded by individuals but is rather a joint project of three organizations: BitGo, Kyber Network and Ren.
You may now be wondering, “ but why would I want to convert my BTC over to wBTC ?”
well,Wrapped Bitcoin users can even gain access to DeFi lending and borrowing networks without actually giving up or trading their Bitcoin directly.
But How about Safety Makaveli, how safe is WBTC ?
I have No doubt that whenever you involve third-party custodians that custody large amounts of Money (Bitcoin in this aspect), mint new tokens, and monitor the value of the Bitcoin collateral, you have a market ripe for a concentration of power and power can change anyone or any organization. So yes, I will state it clearly that the concept of WBTC is fairly safe in the sense that the technology itself is sound.
However, there are still some risks that you should be aware of before you decide to convert your BTC over to WBTC or invest into WBTC for long term. One of my main concerns arises from the trust-based models of early WBTC platforms.
in the sense that In this scenario, there is always a risk that the platform could somehow unlock the real BTC and leave token holders with fake wBTC.
So please do your own diligent research before getting yourself into WBTC as this Post is by no means a financial advice.
What is my near future target of WBTC?
The current All Time High(ATH) on WBTC binance is currently around $200,700 zone which was hit on the 10 January 2021. As a result of the Demand and liquidity growth of WBTC at the current stage,
we could see a rise to above $100,000 ones more before the end of 2021.
Wrapped Bitcoin (WBTCUSD) could pump another 27%Perhaps WBTC will break off from the trend of other coins and get another pump upwards, with there being room on the Relative Strength Index (RSI) for more price increase before it goes into over-bought conditions.
LONG REN - Assets locked in wBTC continues to grow ...LONG REN - wBTC will continue to grow even bigger as more bitcoin moves into defi.