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Monero, Aave, Nano Price Analysis: 04 March

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Bitcoin‘s market bulls were defending the $49k-mark valiantly as they attempted to push higher on the charts once more. Monero and Aave formed triangle patterns and were likely to see a breakout soon, while Nano could see a dip to $5.

Monero [XMR]

Monero, Aave, Nano Price Analysis: 04 March

Source: XMR/USDT on TradingView

Monero formed an ascending triangle pattern on the 4-hour chart, and trading volume has also been falling over the same time period as market participants waited for a strong move. This is a bullish pattern that could see XMR break out back towards $270. However, closing a trading session below $210 will likely invalidate the setup.

Bitcoin will have a strong influence on XMR, regardless of the pattern that XMR appears to form.

The RSI oscillated around the neutral 50-mark, while the Stochastic RSI was in oversold territory. A drop below $210 will likely see XMR visit $180 once again.

Aave [AAVE]

Monero, Aave, Nano Price Analysis: 04 March

Source: AAVE/USDT on TradingView

Aave was another coin that formed a descending triangle pattern. On an uptrend, this pattern is likely to see a move to the upside. However, the trend of AAVE has been downwards since $540 in mid-February, and another drop could be seen soon.

A close outside the pattern backed by heavy trading volume would be confirmation of a breakout. At the time of writing, the $383-level was an important level of support. The Awesome Oscillator noted bearish momentum for AAVE as it was under zero.

Nano [NANO]

Monero, Aave, Nano Price Analysis: 04 March

Source: NANO/USDT on TradingView

The 20 and 50-period EMAs (white and yellow respectively) showed that the past few days had some bullish momentum, but it was waning in recent hours as the price dropped under both the moving averages.

The Chaikin Money Flow also dove under the zero line to show net capital movement out of the markets as sellers asserted themselves in the short-term once more. This could see NANO revisit the $5-level of support.


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Source: https://ambcrypto.com/monero-aave-nano-price-analysis-04-march

Blockchain

Crypto Market Metrics: Gate.io Startup Provides Unprecedented 45,900% ROI

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Everyone thinks that because Bitcoin is priced at so high per » Read more

” href=”https://www.newsbtc.com/dictionary/coin/” data-wpel-link=”internal”>coin, there’s not much opportunity left in the cryptocurrency market. But there’s tons of data to support otherwise.

Take Gate.io Startup projects, for example. The most considerable growth is a rare 45,900% since launch, but nearly every project has stats worth boasting about. Here’s a closer look at the high rate of return and how crypto investors can get the most possible ROI by leveraging the platform’s GT token.

Gate.io Startup Projects Reaches Milestone 45,900% ROI

The beauty of blockchain technology is that the data never lies. The performance of all projects is transparent for all to see. Using such data, investors and traders can maximize the return on their capital by improving overall probabilities.

Recent news that an individual Gate.io Startup project had reached an incredible 45,900% had the industry buzzing. All eyes were then on the platform’s incubator program to watch for which major project would be launching next.

High Rate of Return Metrics Across The Board On Gate.io

The platform’s success goes beyond this particular moonshot » Read more

” href=”https://www.newsbtc.com/dictionary/coin/” data-wpel-link=”internal”>coin for a consistently high rate of return across the board. In fact, CryptoRank,io ranks Gate.io’s IEO program second behind only Binance in total average ROI among centralized exchanges.

And while Gate.io Startup’s TotemFi (TOTM) gains are representative of true runaway success at more than 40,000% returns since launch, other top projects range from around 100% to several with more than 1000% total ROI.

Very few platforms exist globally that can boast more than a handful of 100x projects. However, as an exchange in the top ten platforms by ranking per CoinMarketCap (currently ranked 8th) it is no surprise that there is innovation within Gate.io’s Startup incubator program.

Soaring Startup Projects, Strong Demand Propels GT To $4 Per Token

High-value startups with huge success have a synergistic effect on the GT token. Demand for the GT token to participate in these historic initial exchange offerings (IEOs) has sent prices skyrocketing as of late.

In 2021 alone, prices have gone roaring more than 700% to more than $4 per GT token. The allure of such a high rate of return and the news of almost 50,000% ROI has the entire crypto world looking for what’s next.

Part of the price increase in the GT token is due to the unique tokenomics related to Gate.io’s Startup program and GateChain GT is the native token to the GateChain mainnet. High VIP level users can access more buy power within initial offering projects. Holding a certain amount of GT tokens enables access to these higher levels, which is what’s driving the FOMO currently.

To learn more about Gate.io’s Startup program or the GT token, visit the company’s official website.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.newsbtc.com/news/company/crypto-market-metrics-gate-io-startup-provides-unprecedented-45900-roi/

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Blockchain

Monero, Synthetix, Maker Price Analysis: 14 April

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Monero formed yet another symmetrical triangle and a breakout could go as high as $370. Synthetix needed to climb above $22.3 and $24.1 to make a recovery towards its late February levels. Finally, Maker did not look ready to climb above its $3,105-resistance just yet.

Monero [XMR]

Source: XMR/USD, TradingView

Monero registered a strong upcycle after the price broke north from a major resistance level; at $239.05. In fact, XMR formed a symmetrical triangle prior to the breakout and gains from the upper trendline up to the rally’s peak amounted to over 50% (not shown). Another symmetrical triangle appeared on the 4-hour timeframe after the price made higher lows and lower highs from the $342-level. While a breakout may not peak as high as the last, a bullish outcome can be predicted nevertheless.

An ADX reading of 38 underlined the presence of bullish strength in the market, in case of another price swing. The OBV was trending lower over the past few sessions but showed some buying at the time of writing. A breakout from this pattern could touch $360 or even $370 but the trading volumes were not there yet to support this outcome.

Synthetix [SNX]

Source: SNX/USD, TradingView

While some alts have been peaking during the present rally, Synthetix has been struggling since the broader market pullback in late February. A downwards sloping trendline was finally breached during the first week of April and this was a positive sign for its trajectory for the rest of the month. Key resistance levels lay at $22.3 and $24.1, and these lines must be breached for bullish recovery.

A bearish divergence was spotted on the RSI after SNX got rejected at the upper ceiling of $22.28. The RSI was in neutral territory, at the time of writing. The MACD looked to make a comeback above the half-line, but another dip could take place before SNX’s next upswing.

Maker [MKR]

Source: MKR/USD, TradingView

Maker was in the same boat as SNX, but its recovery had already made headway towards its late February levels. On the 4-hour timeframe, the price rose north from the important 50% Fibonacci retracement level, retested this line, and continued its northbound trajectory, at the time of writing.

The OBV was pointing north as buying volumes outmatched selling volume. This was a positive sign as the price approached the 78.6% Fibonacci retracement level. However, the MACD closed in on a bearish crossover, while the histogram noted decreasing momentum. This suggested that the bulls could lose steam before attempting a breakout.

In either case, the market did not seem ready just yet to climb above the $3,105-resistance.


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Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://ambcrypto.com/monero-synthetix-maker-price-analysis-14-april

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Blockchain

Coinbase tokenized shares seem to be in free fall on FTX

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Investors with tokenized exposure to Coinbase (COIN) shares experienced extreme volatility Tuesday, as the value of their holdings plummeted in a matter of minutes.

The selloff took place on FTX, a leading derivatives exchange, where the COIN-USD stablecoin exchange rate fell from a high above $640 all the way to around $420. Three huge red candles highlighted the selloff, as per a screenshot from Bloomberg podcaster Joe Weisenthal.

At the time of writing, tokenized Coinbase shares were valued at $445 on FTX. Despite the extreme volatility, the tokenized shares were valued considerably higher than COIN’s reference price of $250 from Nasdaq ahead of the direct listing.

As Cointelegraph recently reported, FTX joined Binance in listing Coinbase stock tokens on Tuesday ahead of COIN’s Nasdaq debut. Described as a “pre-IPO contract,” the FTX listing “tracks Coinbase’s market cap divided by 261,300,000.”

The exchange explained:

“CBSE balances will convert into the equivalent amount of Coinbase Fractional Stock tokens at the end of Coinbase’s first public trading day.”

Tokenized stocks are synthetic versions of real equities. On FTX, tokenized stocks serve as spot tokens that can also be used as collateral for futures trading.

The Coinbase public offering, which has come by way of direct listing as opposed to an IPO, has been described as a “watershed” moment by the cryptocurrency community. The listing gives traditional investors direct exposure to the cryptocurrency market without owning digital assets, which are considered much more volatile than stocks.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://cointelegraph.com/news/coinbase-tokenized-shares-seem-to-be-in-free-fall-on-ftx

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