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Assessing the odds of Solana dropping below $100 soon

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A $100 investment in Solana a year back would have led to a $5000 return on investments right now. The digital asset has undoubtedly taken the market by storm and over the past couple of months, its valuation has parabolically risen.

However, thanks to a major invalidation on the daily chart, a correction is possibly due for the token now. Especially since bullish momentum is collectively taking a hit across the industry.

Solana is no longer rallying on its own. And, according to recent developments, it might undergo a period of correction over the next few weeks.

Levels to keep track of during Solana’s correction 

Source: Trading View

Analyzing the current market structure of Solana, the asset hit an all-time high of $215 on 9 September. However, it was unable to hold a position above the $200-level for long. With Bitcoin consolidating strongly between $45,000 and $50,000 during that period, Solana may have found it relatively easy to continue on its bullish path since liquidity and capital flows were evident across the industry.

However, with bearish dynamics coming into play now, it is important to understand the liquidity pools presently evident for the asset. One major invalidation faced by Solana at press time was the crossover between the 20-Simple Moving Average and 20-Exponential Moving Average.

The SMA moving above the EMA on the daily timeframe is considered a strong bearish signal. At the time of writing, for instance, the asset was well away from any form of recovery.

Source: Trading View

Now, in terms of identifying levels, Solana’s previous trend suggested that the asset has a tendency to bounce back from the 0.618 Fibonacci level. During the early 2021 rally, the asset went up to $64 before dropping down to $23 in the month of July. A similar reciprocation of trend would see Solana drop below the $100-mark, with the current 0.618 Fib line residing around the $96-mark.

As far as support is concerned, the previous high of $64 is a strong weekly level. It might get tested if bearish pressure persists across the ecosystem.

Institutions can still rescue its plot

Besides market corrections, Solana hasn’t been followed by positive development since its network witnessed a 17-hour downtime following a DDOS attack. The downtime has been speculated to be one of the primary reasons for the 35% collapse last week.

However, to be fair, SOL‘s credentials were already shaky above $200, and profit-taking was at large.

On the contrary, according to Coinshares‘ digital asset fund report, institutions have overlooked Solana’s minor hiccup as the asset class registered another $4.8 million in capital inflows.

While that is positive, it is important to note that such capital investments are made with the future in mind. Not immediate returns. Hence, recovery on the basis of this investment may or may not unfold since profit-taking on the retail side of the market controls the larger market.

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Source: https://ambcrypto.com/assessing-the-odds-of-solana-dropping-below-100-soon

Blockchain

Open DeFi: Risk Management Notification Protocol by Binance, Orbs & Moonstake

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Finally available for DeFi investors from tomorrow onwards, the renowned Defi.org Accelerator – a Joint Venture project co-created by Orbs, Binance and Moonstake – proudly announces the launch of their chain-agnostic Risk Management Notification Protocol for mobile devices.

This unique Open DeFi Notification Protocol comes to life to allow investors and DeFi users to manage their operations in the decentralized finance universe reducing their loss risks to a minimum especially during market volatility.

Open DeFi: Helping DeFi Traders Reduce Risk

The Open DeFi Notification Protocol permits users to set up any number of alerts for different DeFi apps.

Orbs, the public blockchain platform, announced the launch of the Open DeFi Notification Protocol, a key application product especially created to assist users with unlimited free mobile notifications for impactful on-chain events.

This unique Open Notification Protocol was developed within the DeFi.org organization, co-created by the Orbs blockchain platform, Binance crypto exchange and Moonstake crypto wallet provider.

The Defi.org Accelerator was conceived primarily to develop further creative policies and the necessary tools towards the next level of innovation in decentralized finance, by providing liquidity, support and validation within the ever growing DeFi global ecosystem.

The recently announced Open DeFi Notification Protocol publicly available from tomorrow is basically an event-aggregator of contributions from community members that records significant events.

These events include smart contract creations and upgrades, blockchain governance votes, blockchain accumulated pending rewards, cryptocurrency price swings, prominent liquidations, stop losses, and more.

DeFi users like traders or liquidity providers, by accessing this type of data, can better manage their asset portfolios with superior tools to foresee and react to impactful events. The Open DeFi Notification Protocol allows a secure management by risk reduction, unarguably valuable in volatile market periods.

All DeFi projects can choose to differentiate themselves from competition by providing its customers with unlimited free mobile notifications of key sensitive information. All these Defi platforms need to do is integrate with Github for 30 minutes.

Orbs’ co-Founder Tal Kol describes the product in his own words,

“Transparency is a hallmark of blockchain, yet reliable mobile notifications that can aid the DeFi community are virtually nonexistent…our talented team has created a user-friendly protocol that functions almost like a reactive DeFi assistant, alerting users to the possibility of impending liquidations, significant price swings, contract upgrades and the like. We are positive it will make a huge impact.”

Initially the beta version of the Open DeFi Notification Protocol relies on a centralized node for tracking and display of the significant events recorded.

Orbs is working towards the launch of an updated improved version very soon that will rely on the decentralized Orbs network of independent nodes.

The beauty behind this announcement is that users will be able to set up an unlimited number of notifications linked to a variety of DeFiapplications, all of it integrated on a single open-source interfase comprising several dApps architecture frontends.

No previous registration is required, defi users will simply need to download the mobile app “DeFi Notifications” for iOS or Android and further scan their QR address in MetaMask (or the QR position in their app’s UI).

To make it even easier, in the Orbs’ official YouTube channel there is a tutorial video of this new DeFi Notification Protocol working with Sushi as an example.

Tal Kol added,

“The great thing about the Protocol is that it can work with emerging DeFi projects. All that’s required is the implementation of a simple JavaScript web3 class, to extract the notification from the on-chain data. This is then contributed via PR to the Protocol Github repo.”

Orbs Makes Connections Happen

The public blockchain platform Orbs was specifically designed to grant mass DeFi applications the integration with EVM-based L1 and L2 blockchains such as Ethereum, Binance Smart Chain (BSC), Polygon, Solana and Avalanche.

The decentralized Orbs protocol, powered by their ORBS native token, is operated by a public network of permissionless validators upon a PoS (proof-of-stake) consensus.

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Source: https://blockonomi.com/open-defi/

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Blockchain

Nexo Offering 17% APY On Polkadot DOT Paid out Daily

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Nexo sees a bright future for Polkadot, and to celebrate, the exchange is offering an 17% APY rate on any DOT deposits until the end of November. It is extremely easy to earn a passive income with Nexo, as it allows its clients to buy tokens and earn high interest rates for holding them.

Polkadot’s ecosystem has been a hotbed of development in 2021, and there are loads of exciting new things coming. There are a few parachains that are in late-stage development, which will help the overall ecosystem grow.

DOT is also doing well. DOT is the primary token on Polkadot, and it recently shot past the $40 USD mark in global trading. DOT offers some very interesting features for its users and developers, and it looks like the market is starting to reward Polkadot’s potential.

Earning Passive Income With Nexo

If you already have some DOT – all you have to do is deposit it in your Nexo account. If you don’t already have DOT, and you want to participate in this amazing offer, you can buy DOT directly from the Nexo platform.

Nexo states,

If you’re eager to get in on our limited offer, the fastest way to add Polkadot to your account is by buying straight from the Nexo Exchange. Here’s how:

  1. Log in to your Nexo account and go to the Exchange tab.
  2. Select your payment method: buy instantly with a credit/debit card or swap crypto and stablecoins already in your account.
  3. Select DOT as the currency you’d like to receive and confirm your order.

An interest rate that is above 15% is incredible in a global economy where many government bonds actually trade with a negative yield.

Almost every government bond is a money losing proposition when inflation is taken into account, as people are paying more for goods and services all the time.

One would think that a 12% p.a. interest rate would be enticing enough, but Nexo gives its clients even more ways to boost earning.

According to Nexo,

As with all Nexo’s Earn Crypto Interest services, you get great base rates, but you can also boost your earnings by holding NEXO Tokens and choosing to receive your rewards in NEXO. To ensure your earning is optimized, check out this breakdown of our yields on Polkadot for each Loyalty tier and manage your DOT and NEXO in the most efficient way for you:

  • Platinum: Маximum rate – 17%. Standard rate – 14%.

  • Gold: Маximum rate – 16%. Standard rate – 13%.

  • Silver: Маximum rate – 15.25%. Standard rate – 12.25%.

  • Base: Маximum rate – 15%. Standard rate – 12%.

No Market For Old Investors

Nexo is offering its clients an amazing opportunity to earn passive income in a market that offers few other options for passive income. With cryptos and Nexo, investors can gain double digit interest rates, and watch as the tokens themselves grow in value.

In addition to offering market smashing yields, Nexo also gives investors to use their tokens as collateral for loans, and swap them for other tokens as well.

It is very easy to see how Nexo, and platforms like it, will lead the next generation of capital markets. Investors are tired of being pushed around by central bank policy, and watching as their passive income streams dry up.

With cryptos, there are no central planners that can crunch interest rates to the floor, and reward embedded interests with massive amounts of free money. It simply can’t be done in the world of cryptos.

If you are interested in how you can join Nexo, and take part in any of its great programs, please click right here. It offers great interest rates on many of the major tokens, and in addition to the passive income, tokens offer price appreciation.

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Source: https://blockonomi.com/nexo-polkadot/

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Blockchain

CoinZoom Adds Tron & TRC20 Tether for Trading & Yields

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CoinZoom, the well-established cryptocurrency exchange, just announced that it is adding both Tron and a TRC20 version of Tether to its exchange. Both of these tokens will be fully tradable, and also offer great yields.

In addition to trading in more than 40 cryptos, CoinZoom also offers its clients the ability to gain from their tokens with industry-beating yields, and also to spend cryptos with the CoinZoom Visa card.

CoinZoom

CoinZoom offers its clients access to a wide rangeof tokens with low trading fees. Tron is one of the most interesting blockchain projects in the industry. Its founder, Justin Sun, saw that Proof-of-Work systems would be a major limit to scaling a blockchain.

To eliminate this problem, Sun created Tron as a Proof-of-Stake blockchain, which is an upgrade that Ethereum is currently working on. Tron delivers fast transaction speeds, and low costs.

Now CoinZoom clients can trade Tron against numerous other tokens, as well as fiat proxies like Tether. With more than 2 billion transactions already on its blockchain – it is easy to see that interest in Tron is likely to grow from here.

Stablecoins Stay Steady

Most people still can’t pay all their bills with Bitcoin, so stablecoins like Tether make a lot of sense. It is also a great way to trade cryptos, because it is basically a proxy for the US dollar.

Now CoinZoom clients can trade Tether, along with more than 40 other tokens on the exchange. CoinZoom makes a lot of sense for anyone who wants to deal with a fully regulated exchange that offers an amazing user experience.

CoinZoom also offers convenient fiat currency on ramps, so you can cash out of fiat, and load up on cryptos. For more information about CoinZoom, and all its great features, just click right here!

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Source: https://blockonomi.com/coinzoom-tron-trc20-tether/

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