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Market Analysis Report (02 Jun 2021)

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SimpleSwap, an instant cryptocurrency exchange, has launched a new Loyalty Program with BTC cashback. It provides customers with a great opportunity to earn crypto.

Members of the Loyalty Program can not only buy and swap 300+ сryptocurrencies on SimpleSwap but also receive cashback for every exchange made on this service.

Easy to join the program

Anyone who wants to participate in the SimpleSwap Loyalty Program just needs to create a Customer Account and activate the Loyalty Program in the “Subscription” tab. That’s all, just don’t forget to log in when making exchanges to get a reward!

Clear and simple rules

Initially, every finished exchange made on SimpleSwap will bring 0.5% cashback to the participant. This reward is earned in SWAP (the SimpleSwap internal currency). When SWAP holders have enough tokens they can spend them on purchasing a Bitcoin cashback subscription.
The mechanism couldn’t be simpler: exchange crypto, collect SWAP, buy a subscription and get BTC.

Several options for Bitcoin cashback subscription

The Bitcoin cashback depends on the purchased subscription plan. It can give you 0.15%, 0.2%, or 0.4% of every finished exchange in BTC during 30 calendar days.

Customer Account

It is very convenient to request a payout and track the cashback in the Customer Account, as well as receive all the necessary information about swaps (such as viewing the exchange history and monitoring the exchange status).

About SimpleSwap

SimpleSwap is an easy-to-use and reliable cryptocurrency exchange that has been on the market for more than three years. The platform is in good standing with the customers and has a high rating on Trustpilot.
SimpleSwap works on crypto adoption and wants to support crypto enthusiasts encouraging their trust with a BTC cashback.

Join the Loyalty Program and start earning crypto right now!

Source: https://www.cryptocompare.com/email-updates/daily/2021/jun/02/

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COMP, NEAR & KAVA See Recoveries Following Recent Sell-Off

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Compound (COMP) is trading inside a descending parallel channel and bounced at its support line yesterday.

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Kava.io (KAVA) has bounced at the $4.80 horizontal area after a sharp fall.

Near Protocol (NEAR) has broken down from a parabolic ascending support line.

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COMP

COMP has been moving upwards since June 22. Initially, the movement was quick, leading to a high of $531 on July 6. 

However, the token has been moving downwards since. On Sept 21, it reached a low of $301. The ensuing bounce validated the $305 area as support. 

However, despite the bounce, technical indicators are bearish. The MACD and RSI are both decreasing, the former being below 0 while the latter being below 50. 

COMP channel
Chart By TradingView

While the daily chart does not provide any bullish signs, the six-hour one does. The token seems to be trading inside a descending parallel channel, a structure that usually contains corrective movements. 

Furthermore, the aforementioned Sept 21 low was made right at the support line of the channel. Additionally, it gave waves A:C a 1:1 ratio. 

If COMP manages to reclaim the middle of the channel, it would likely mean that the decrease was corrective and a breakout will eventually follow.

COMP channel
Chart By TradingView

Highlights

  • COMP is trading inside a descending parallel channel.
  • There is support at $315.

KAVA

On July 24, KAVA broke out and proceeded to reach a new all-time high price of $9.21 on Aug 30. However, it failed to sustain the higher prices and has been moving downwards since. 

So far, it has reached a low of $4.55, doing so on Sept 22. The ensuing bounce helped validate the $4.80 area as support. This is both a horizontal support area and the 0.618 Fib retracement support level. 

Currently, KAVA is in the process of creating a bullish engulfing candlestick.

However, technical indicators are still bearish. The MACD and RSI are both decreasing. The MACD is already into negative territory while the RSI is below 50.

KAVA descending resistance
Chart By TradingView

A look at the shorter-term six-hour chart shows that the decrease was a five wave bearish impulse. This fits with the idea that the short/medium-term trend is bearish.

However, since the impulse is now complete, a significant bounce is likely. 

The first resistance area is at $6.90, the 0.5 Fib retracement resistance level and a horizontal resistance area.

KAVA downward movement
Chart By TradingView

Highlights

  • KAVA has broken out from a descending resistance line.
  • There is support at $4.80.

NEAR

NEAR had been increasing alongside a parabolic ascending support line since July 20. This led to a new all-time high price of $11.88 on Sept 9. 

However, the token has been falling since. 

It broke down from the parabolic support line on Sept 20 and reached a low of $6.33 the next day. The ensuing bounce validated the $6.70 area as support. This is both a horizontal support area and the 0.5 Fib retracement support level. 

Even though NEAR has bounced, technical indicators provide mixed readings. Both the MACD and RSI are falling, but the former is still positive, and the latter is right at the 50 line.

NEAR Parabola
Chart By TradingView

However, the shorter-term two-hour chart is more bullish. 

Similarly to COMP, NEAR is trading inside a descending parallel channel. On Sept 21, it bounced at its support line. Furthermore, both the RSI and MACD have generated bullish divergences. 

If the token manages to reclaim the middle of the channel, it would increase the chances of a breakout transpiring.

NEAR Channel
Chart By TradingView

Highlights

  • NEAR has broken down from a parabolic ascending support line.
  • There is support at $6.70.

For BeInCrypto’s latest Bitcoin (BTC) analysis, click here.

What do you think about this subject? Write to us and tell us!

Disclaimer

All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.

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Valdrin discovered cryptocurrencies while he was getting his MSc in Financial Markets from the Barcelona graduate school of Economics. Shortly after graduating, he began writing for several different cryptocurrency related websites as a freelancer before eventually taking on the role of BeInCrypto’s Senior Analyst.

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Source: https://beincrypto.com/comp-near-kava-see-recoveries-following-recent-sell-off/

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eToro Commits $1 Million Stake to GoodDollar Universal Basic Income Project

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September 22, 2021 – Tel Aviv, Israel


eToro, a multi-asset investment platform that empowers people to grow their knowledge and wealth as part of a global community of investors, announced today that it is reinforcing its commitment to opening the digital economy to the next billion global crypto users this week by raising its stake in GoodDollar’s universal basic income (UBI) protocol from $58,000 to $1 million.

The additional capital will fund the expansion of GoodDollar, a protocol that works to further financial education and bridge the growing global wealth gap with a clever combination of smart contract mechanics, decentralized finance (DeFi) and a reserve-backed crypto token – the G$.

The GoodDollar system captures the interest generated by staking sponsors’ capital in DeFi protocols such as Aave and Compound and distributes that to a global community of members in the form of GoodDollar tokens.

At the same time, GoodDollar fosters financial education and introduces recipients to the benefits of crypto.

GoodDollar is a model that flips traditional donation-driven philanthropy on its head. Sponsors are incentivized to take part through a ‘double bottom line’ set of rewards – both financial and social.

Because it draws upon the power of DeFi, GoodDollar is free from geographical, economic and regulatory restrictions. Anyone in any country can join the digital economy by accessing free cryptocurrency via the GoodDollar app, and anyone can become a philanthropist by staking capital to support the goals of the project.

GoodDollar is in fact the world’s most universal UBI program to date, with more than 225,000 users in virtually every country on the planet.

GoodDollar recently published the results of its proof-of-concept, a limited launch of the protocol designed to validate the economic model and market adoption. Results after one year show that the protocol distributed $16,000 worth of UBI in G$ to more than 225,000 people – based on an initial stake of $58,000.

This success spurred eToro into making a deeper commitment to the project, by raising its stake more than 17-fold. The increased investment comes in preparation for the fall launch of GoodDollar V2, which will allow any believer to commit capital to the system and contribute to making global UBI a reality.

Yoni Assia, CEO of eToro, said,

“Too many people are locked out of opportunities that could take them out of poverty, including access to capital markets and digital work opportunities. The GoodDollar project aims to alleviate that by fostering financial inclusion and empowerment around the world. Our hope is for other innovation leaders, who recognize the potential of crypto, to join us and help use the burgeoning power of DeFi responsibly.”

GoodDollar was conceived by Assia and sponsored by eToro, although it was set up and run as an independent foundation and entity. The upcoming release of the GoodDollar V2 smart contract will shift stewardship to the newly established GoodDAO, and it will be the community that steers the project into the era of global decentralized economies.

About GoodDollar

GoodDollar.org is a non-profit organization on a mission to drive financial education and inclusion.

The protocol opens the door for the $80 billion DeFi market to make a lasting impact in the realm of social responsibility and help GoodDollar bring traditional markets to the 1.7 billion people who are still unbanked.

GoodDollar has built a wallet that enables any human with an internet connection to sign up and claim a small daily income in G$ coins.

About eToro

eToro is a multi-asset investment platform that empowers people to grow their knowledge and wealth as part of a global community of successful investors.

eToro was founded in 2007 with the vision of opening up the global markets so that everyone can trade and invest in a simple and transparent way.

Today, eToro is a global community of more than 23 million registered users who share their investment strategies – and anyone can follow the approaches of those who have been the most successful.

Due to the simplicity of the platform users can easily buy, hold and sell assets, monitor their portfolio in real-time and transact whenever they want.

Contact

GoodDollar Press Desk

This content is sponsored and should be regarded as promotional material. Opinions and statements expressed herein are those of the author and do not reflect the opinions of The Daily Hodl. The Daily Hodl is not a subsidiary of or owned by any ICOs, blockchain startups or companies that advertise on our platform. Investors should do their due diligence before making any high-risk investments in any ICOs, blockchain startups or cryptocurrencies. Please be advised that your investments are at your own risk, and any losses you may incur are your responsibility.

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Source: https://dailyhodl.com/2021/09/22/etoro-commits-1-million-stake-to-gooddollar-universal-basic-income-project/

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ConsenSys Backed Virtue Poker and Binance NFT to Launch “Mystery Box” for Celebrity Tournament on Sept 23

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Source: https://www.newsbtc.com/news/company/consensys-backed-virtue-poker-and-binance-nft-to-launch-mystery-box-for-celebrity-tournament-on-sept-23/

The crypto and blockchain space is maturing at a rapid pace. Most financial industry experts agree that this nascent industry is here to stay because there are many different use-cases emerging for blockchain-enabled platforms.

In addition to the rise of Bitcoin (BTC) as a widely accepted medium-of-exchange and store-of-value, Ethereum (ETH) has become a globally recognized name in the crypto space. Large corporations such as Visa have acknowledged Ethereum’s role in the future of finance and its ability to support a wide range of other applications.

A growing number of online platforms have also been deploying solutions on Ethereum, despite its relatively slow transaction speeds. Even though there are many other blockchains that outperform Ethereum in terms of transactions per second (TPS) and cheaper transaction costs, they do not have the same powerful network effect that Ethereum has been able to acquire. There are also many Ethereum scaling solutions such as Polygon that will aim to make the leading smart contract platform a lot more efficient in the foreseeable future.

Yet Another Ethereum-powered Platform

Virtue Poker, a decentralized platform developed on the Ethereum (ETH) blockchain, reveals that it will be holding a Celebrity Charity Poker Tournament, which will be taking place on September 26, 2021.

The charity poker tournament participants will reportedly include Hall of Fame (HOF) poker player, Phil Ivey, former NBA all-star Paul Pierce, YouTube’s superstar Mr. Beast, TRON blockchain founder and serial crypto entrepreneur Justin Sun, Hollywood actor and accomplished filmmaker Vince Vaughn, Polygon Co-Founder Sandeep Nailwal, and Ethereum Co-Founder and ConsenSys founder Joe Lubin.

The Binance Mysterybox Collection

To commemorate this special event, the Virtue Poker team plans to launch a Binance MysteryBox collection, starting on September 23, 2021 –  representing each card in a typical 52 card deck. Collectors who possess the winning hand for each knockout during the Celebrity Event will get a chance to win prizes ranging from $2,500 to a $25,000 reward for the top prize.

Participants need to purchase two mystery boxes in order to assemble a hand. The participants can then trade with each other so that they can assemble the best poker hand through the secondary market.

The Mystery box will reportedly include an Ace of Spades that will come with Phil’s digital signature and a $5,000 prize.

Prizes

All participants with completed hands can compete and have an opportunity to win:

A $2500 price for the winning hand for each knockout. If multiple players own the hand, then the $2500 prize will be split equally among all the winners. Furthermore, the player who possesses the championship knockout hand will be able to claim a $25,000 prize.

If more than one player is holding the championship knockout hand, then only 1 player will be randomly selected to claim the reward

Participants are able to collect as many as (50) completed hands (100 boxes). Participants must also HOLD the winning hand in their Binance account to be eligible for the rewards. Winning players should email [email protected] for confirmation.

Freeroll Tournament

Virtue Poker will also hold a freeroll tournament where ALL holders of (2) mystery boxes should be getting exclusive access to participate in a $10,000 free-roll tournament on the Virtue Poker platform.

Virtue Poker NFT holders need to send a message to [email protected] with their UID and NFT screenshot to obtain the Virtue Poker referral code.

Supporting NFT Use-Cases

The Virtue Poker team is looking forward to hosting their Celebrity Tournament and are focused on offering a truly unique NFT experience for their viewers that plan to tune in. Through their partnership with leading crypto exchange Binance, they plan to support the adoption of the Virtue Poker platform and also that of NFTs. They’ve decided to take this step to show that there’s yet another real-world use case for non-fungibel tokens or digital collectibles: interacting through a live event.

The team has also thanked the Virtue Poker community for their support of their platform as they continue to expand their ecosystem in the nascent blockchain-enabled gaming industry.

As noted in the announcement, Virtue Poker is described as a decentralized poker platform that leverages the Ethereum blockchain as well as P2P networking to offer an online poker platform that is safe, “honest” and fun. It was established in 2016 within New York-based Consensys, the leading Ethereum development studio and incubator launched by crypto billionaire and Ethereum co-founder Joe Lubin back in 2014.

Backed by Consensys and stakeholder Phil Ivey, Virtue Poker aims to make blockchain or distributed ledger tech (DLT)-powered betting mainstream.

Source: https://www.newsbtc.com/news/company/consensys-backed-virtue-poker-and-binance-nft-to-launch-mystery-box-for-celebrity-tournament-on-sept-23/

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