Connect with us
[crypto-donation-box]

Blockchain

EOS, Synthetix, Maker Price Analysis: 16 April

Republished by Plato

Published

on

EOS can be expected to find strong support around the $6.8-zone. If Bitcoin stabilizes above the $60.5k-area, altcoins could have a chance of recovery in the coming days. Otherwise, it would be further selling pressure across the market. Synthetix and Maker posted gains over the past few days, but were likely to retrace a significant portion of their value.

EOS

EOS, Synthetix, Maker Price Analysis: 16 April

Source: EOS/USDT on TradingView

EOS was trading within a rising channel, and the past few hours saw the price test the upper boundary of the channel before falling lower.

The mid-point of the channel was ceded to bearish pressure. A region of demand lay just above the $6.8-mark. The confluence with the channel’s lower boundaries could serve as strong support for EOS.

The RSI was back at neutral 50 and would drop lower to signal a shift in momentum to bearish over the next day or two, especially if EOS closes a session under $6.8. This could see EOS fall further to find support at $5.6.

Synthetix [SNX]

EOS, Synthetix, Maker Price Analysis: 16 April

Source: SNX/USDT on TradingView

Synthetix ascended past the $21. 4-level of resistance, but its retest of the same level on the back of strong selling forced the price to drop to $20.7 and could drop further. On the 4-hour, the Supertrend indicator continued to give a buy signal that would only be flipped to sell on a session close under the $19.5-level.

The 20 EMA and 50 EMA (white and yellow respectively) highlighted the bullish momentum behind SNX in recent days, with the price not sinking under these moving averages yet.

The OBV was on an uptrend and suggested that the recent spate of selling was reactionary fear, rather than sustained selling.

Maker [MKR]

EOS, Synthetix, Maker Price Analysis: 16 April

Source: MKR/USDT on TradingView

Two sets of Fibonacci retracement levels were plotted to highlight some levels of importance for MKR. $2,400 is a level that MKR had been stuck under from late February till the past week. The surge past this level in recent days has been rapid, and the price did not stop at many areas to mark it as support or resistance.

As such, the move back down could be almost as rapid, and some of the Fib levels laid out possible areas of support for MKR.

The MACD was correcting lower after the MACD line rose high above the Signal line to indicate overbought market conditions.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://eng.ambcrypto.com/eos-synthetix-maker-price-analysis-16-april

Blockchain

Goldman Sachs Leads $15M Investment in Coin Metrics

Republished by Plato

Published

on

In an announcement on May 5, the leading provider of crypto financial intelligence, Coin Metrics, stated that it had concluded a Series B funding round of $15 million.

In addition to Goldman, which added Bitcoin to its returns report last month, investors included some big names in crypto venture capital such as Castle Island Ventures, Highland Capital Partners, Fidelity Investments, Avon Ventures, and Communitas Capital.

Other investors participating in the second round included Acrew Ventures, Morningside Group, BlockFi, and Warburg Serres Investments.

Crypto Data For Institutions

The company, founded in 2017, provides industry analytics, on-chain data, market insights, and network information. It has pivoted to a more institutional client base following increase interest in digital asset investing over the past year.

Coin Metrics clients currently include Fidelity Investments, Osprey Funds, and BlockFi. However, on April 30 it was reported that Fidelity has launched its own platform dubbed Sherlock, which will be similar to Bloomberg’s Terminal collating data on fundamental and technical analysis for the crypto industry.


ADVERTISEMENT

The company recently announced several new products, including a network risk management offering called FARUM, and a universal block explorer dubbed ATLAS. Co-founder and CEO, Tim Rice, stated that the tremendous interest the firm is seeing in these offerings reinforces the value of on-chain data to institutions engaging in crypto assets. He added:

“Our data is clearly on a path to becoming an integral part of the infrastructure for the future of finance.”

Global head of digital assets of Goldman Sachs, Mathew McDermott who will take a seat on the Coin Metrics board of directors, commented that data is critical for the mainstream adoption of crypto assets by traditional investors and financial services players.

Big Banks Eyeing Crypto

According to Bloomberg, most major banks have stayed on the sidelines until now and this bull market has been very different from the previous one in 2017/18. They have become more comfortable with how crypto works and as their clients push for access to the $2.2 trillion market.

Rice stated that customer demand is finally pulling the big banks in, adding:

“Having a marquee name such as Goldman Sachs as an investor and client is not just big for Coin Metrics, but for the industry as a whole,”

Goldman Sachs filed for a Bitcoin ETF with the SEC in March and according to crypto custody firm New York Digital Investment Group, Bitcoin and crypto assets will be coming to hundreds of American banks this year.

SPECIAL OFFER (Sponsored)

Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 50% free bonus on any deposit up to 1 BTC.

You Might Also Like:


Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://cryptopotato.com/goldman-sachs-leads-15m-investment-in-coin-metrics/

Continue Reading

Blockchain

Chainlink Hits $50 as Other Altcoins Face Major Correction

Republished by Plato

Published

on

Chainlink is making slow but sure steps to yet another ATH on the charts despite many altcoins seeing corrections over the past couple of trading sessions. The crypto market is highly bullish, with Ethereum, the world’s largest altcoin, hitting an ATH of over $3,519 less than 24 hours ago. Chainlink is only taking advantage of this sentiment and thriving off of it.

LINK has crossed the much-anticipated $50 mark at the time of publication, which is a 40% surge in the past seven days.

Chainlink Developments are Pushing the Price 

Because of a relatively strong connection with Bitcoin and Ethereum, LINK has often ridden the bull wave of the broader market to ascend the charts. It was also the case last week but Chainlink cannot reduce local innovations centered around the environment and its contributions to the price increase in alt by any means. Each of the updates enables the alt to move independently, contrary to the general market sentiment.

One such improvement is the introduction of Chainlink 2.0. The whitepaper in question suggested a roadmap for Chainlink’s future to overcome the shortcomings of the initial whitepaper. 

The Course to Interoperability

The Chainlink 2.0 whitepaper provides a structure for several interoperating Decentralized Oracle Networks(DONs), each consisting of a set of nodes capable of bidirectionally transferring data and performance of decentralized off-chain computing through several consensus protocols. 

That is however not the only development on the platform. Also officially launched on mainnet is Chainlink Off-Chain Reporting, which is an important step in the scalability of the decentralized oracle networks of Chainlink. 

OCR greatly improves the efficiency of the data calculation over Chainlink oracles and lowers operating costs by 90% hence accelerating the network’s development. What’s more, SmartZip, a company that deals with predictive analysis in the real estate industry, has also revealed that it will soon launch a Chainlink node. 

These are all bullish developments that have enabled LINK to register additional ATHs in price charts since mid-April.

Where is Chainlink Headed

The price forecast of Chainlink is bullish mainly because its price feeds play a decisive role in the decentralized financial space – a sector that has been growing strongly since early 2020. Without the use of oracles, Blockchains themselves cannot access external market data. Experts also agree that broader use of this technology will reduce the number of hacking activities that have lost millions of dollars to exploits that companies could have avoided.

Much like Bitcoin was the first cryptocurrency to exist, giving it an added advantage over the multiple coins that followed, Chainlink is the first project to provide oracles. As new applications begin to arise for blockchain technology, opportunities to use the features of this project will only grow further. These new applications and Chainlink’s unique features are likely to drive its price even higher.

Related posts:

Like BTCMANAGER? Send us a tip!
Our Bitcoin Address: 3AbQrAyRsdM5NX5BQh8qWYePEpGjCYLCy4

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://btcmanager.com/chainlink-50-altcoins-correction/

Continue Reading

Blockchain

Much DAO: Open DeFi unveils DAO to support the entire ecosystem

Republished by Plato

Published

on

Decentralized finance alliance, Open DeFi, has announced it will create a decentralized autonomous organization, or DAO, to support its vision for an open and global cross-chain DeFi ecosystem.

The alliance launched in late 2020 with the goal of bringing together Western and Eastern DeFi projects and has since seen some of the sector’s top projects join its ranks including as Aave, Synthetix and Balancer.

The responsibilities of the Open DeFi DAO, or OD DAO, will include launching DeFi products across multiple layer-one networks, and exploring multi-chain applications for emerging decentralized assets, including data tokens and nonfungible tokens.

The DAO will also incubate early-stage protocols and infrastructure, and seek to “generate long-term value through community-based strategies.” Open DeFi’s Marek Laskowski stated:

“The goal of Open DAO is to develop a truly integrated multi-chain DeFi ecosystem that will open up liquid markets and establish a new operating system for finance. With the support of our members and our community of more than 10,000 DeFi developers and strategists worldwide, we look forward to accelerating the next generation of DeFi.”

The DAO will be community governed through a governance token, with an announcement emphasizing that “anyone can join” the permissionless organization.

To celebrate the new DAO and support DeFi decentralized finance development, Open DAO and Gitcoin launched a hackathon on May 3. The event has been sponsored by more than 20 major DeFi projects including Uniswap and Polygon, with more than $100,000 in prizes to be awarded to the hackathon’s winners.

Open DeFi was launched by blockchain startup Conflux Network in September 2020 with support from the Chinese central government’s Shanghai and Technology Committee, describing its mission as bridging the Eastern and Western decentralized finance markets. By November, the alliance had doubled its membership to span 16 firms, including four of the 20-largest DeFi protocols by total value locked.

In addition to several decentralized finance heavyweights, Open DeFi’s membership currently includes notable actors within the broader crypto sector including fundraising platform Gitcoin and venture capital firm Sequoia Capital.

Decentralized autonomous organizations have seen tremendous growth over the past six months, with the combined assets under management, or AUM, of the DAO ecosystem increasing more than 600% from $140 million as of Nov. 5, 2020, to roughly $1 billion today, according to data provider, DeepDAO.

DeepDAO currently tracks 108 different DAOs, of which 24 hold more than $1 million in assets, and 17 comprise more than 100 members.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://cointelegraph.com/news/much-dao-open-defi-unveils-dao-to-support-the-entire-ecosystem

Continue Reading
Blockchain3 days ago

Mastercard adds 6 blockchain payments startups to accelerator program

Blockchain20 hours ago

Major Law Firm CMS Adds Stratis (STRAX) to its Legal Accelerator Program

Blockchain2 days ago

Starcoll To Issue Limited Edition Star Wars Collectibles as NFTs

Blockchain2 days ago

Pro traders buy the Bitcoin price dip while retail investors chase altcoins

Blockchain2 days ago

eBay could add a crypto payment option, says CEO

Blockchain2 days ago

S&P DJI Releases Bitcoin and Ethereum Indexes

Blockchain1 day ago

China’s Central Bank to Partner With Alibaba’s Ant Group on Digital Yuan

Blockchain2 days ago

Bitcoin Miners Moving Away from China, F2Pool Observes

Blockchain2 days ago

‘This ain’t no game’ as DOGE briefly flippens Nintendo and takes #4 spot from XRP

Blockchain3 days ago

Iranian companies can now pay for imports with officially mined cryptocurrencies.

Blockchain1 day ago

Here Is Why XRP Volume Has Recover Across Payment Corridors

Blockchain3 days ago

CBDCs Could Harm Bitcoin But BTC May Replace Gold as a Store of Value: Deutsche Bank

Blockchain2 days ago

S&P launches cryptocurrency indexes, debuting with Bitcoin and Ether

Blockchain2 days ago

The Reason for Ethereum’s Recent Rally to ATH According to Changpeng Zhao

Blockchain2 days ago

Singapore’s largest bank posts tenfold crypto volume growth in Q1 2021

Blockchain2 days ago

Bybit Launches Ether (ETH) Cloud Mining Service as Demand Booms

Blockchain3 days ago

Qredo raises $11M in seed funding to launch new cross-chain asset management infrastructure

Blockchain2 days ago

Another XRP lawsuit update: SEC accuses XRP Holders of ‘reciting’ Ripple’s litigation position

Blockchain2 days ago

eBay is Considering Adding Crypto Payments & NFT Sales

Blockchain2 days ago

Bitcoin and Ethereum Indices Debut on S&P Dow Jones

Trending