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SUSHI, SNX, and ALGO Record Gains As Markets Swing Bullish

Price Rally

Top gainers today across all crypto markets stay apparent in terms of achieving potential and market resilience. While Bitcoin endures the struggle to maintain its price above $10,000, Ethereum is busy testing the $400 price level again. Defi tokens, being led into victory today by the likes of SUSHI and YFI are taking the lead …

The post SUSHI, SNX, and ALGO Record Gains As Markets Swing Bullish appeared first on Cryptocurrency information | Cryptocurrency News | Bitcoin News and Crypto Guide.

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Top gainers today across all crypto markets stay apparent in terms of achieving potential and market resilience. While Bitcoin endures the struggle to maintain its price above $10,000, Ethereum is busy testing the $400 price level again.

Defi tokens, being led into victory today by the likes of SUSHI and YFI are taking the lead amongst other crypto top gainers. These are altogether rebuilding the markets to a bullish trend as the bulls try a takeover.

Among this list of top gainers, SUSHI takes charge with around 31% as SNX and ALGO share gains.

#1. SushiSwap (SUSHI 31% Gain):

sushiswap-charts

SUSHI makes the top position on today’s list of top gainers. Although, its price, within last week, was dangerously depressed due to an alleged exit scam purported by its creator. Recycling over two million in SUSHI tokens to ETH, the panic left SUSHI’s community in disarray.

As of now, the market attitude towards SUSHI is very cautious. With around 40% pessimism, traders believe the tokens may soon plummet into another bear market.

The token is only about 2 weeks old and has made around 60% loss since last week. No other timeframe exist except for lower daily in which the coin amazed around 31%.

SUSHI is now changing hands at $2.93 amid a market cap hovering around $250 million.

Technical Points

  • SUSHI overcame the resistance at $2.9 and is now testing the next resistance at $3.0
  • Next level of major support lies at $2.8 and $2.6 respectively.

#2. Synthetix Network Token (SNX 26.3% Gain):

sushiswap-charts

SNX grabs second place in this wave of gainers’ list. The coin gains around 26.3%.

SNX obtained some loss within the week consistently. The coin dipped by 16.8% within the last 7 days. In the one-month timeframe, however, SNX earned 10.2% and still gains roughly 1,260% within the last year.

Technical Points

Prices spiked through the $4.6, $4.8 and $5.0 level comfortably. Building a string of support at 5.2, SNX established tough support at $5.0 level. With the immediate resistance at $5.5 the next key support lies at $5.2

  • Next key support at $5.2
  • Next key resistance at $5.5
  • RSI broke through the 70.0 level upwards. A little retracement to 50.0 is imminent.

#3. Algorand (ALGO 25.27% Gain):

algorand-charts (1)

ALGO comes third on our preference market watch list today having made gains equal to around 25%.

The coin conserves a small market acceptance among traders who realize ALGO may eventually leap and recoil some gains. It’s rise to fall possibility ratio is around 7:3

ALGO is gradually swinging into a favorable year. In the one year timeline, the coin is up by almost 15%. Although bearish in the past 7 days, ALGO suferred about 11.3% loss in the last month.

Currently trading at $0.41, ALGO’s market is entirely capped at $335.9 million amid exchange volumes around $233 million.

Source: https://coinpedia.org/news/sushi-snx-and-algo-record-gains/

Blockchain

All Eyes on Ethereum

Republished by Plato

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One Ether now costs more than US$3000. Did you ever think you’d see the day?

You gotta hand it to the crypto markets: in some ways they’re comically predictable. A month ago, Ethereum was everyone’s favourite whipping boy, a bloated, expensive under-achiever that couldn’t even double its 2017 all-time high. Lol what a weakling.

And with competitors like Cosmos, Solana, Polygon and Polkadot nipping at its heels, perhaps this was the beginning of the end for the network that gave us smart contracts, ICOs, ERC-20 tokens, DeFi, yield farming, NFTs and, to be honest, the entire idea that blockchain was a multi-functional and era-shaping technological breakthrough that you ignored at your peril.

How things have changed. On Monday Ethereum blasted through the US$3000 mark like it was barely there, throwing on an extra 15% while it was at it. The network is now worth a shade under US$400 billion, putting it on par with Mastercard and Walmart, and officially making Vitalik Buterin, the 27-year-old prodigy who created Ethereum, a bona fide billionaire. So, is this how the Flippening begins?

Network to net worth

Due to the speed with which things move in crypto, we tend to underestimate some of the metrics that actually speak to a technology’s success. The new shiny thing is almost always more exciting than some dusty old contraption built in the positively prehistoric year of 2015. Did they even have electricity back then?

But Ethereum stands out from almost all other blockchains in that it’s already being used, at scale, by millions of people and companies. While that may seem like Business 101 – get more customers, be more successful – when it comes to blockchain usage is a particularly powerful factor because of the way it harnesses network effects to improve the value of the system itself. Use it more and the whole system becomes more valuable, both financially and practically, for the network’s users, miners, stakers, investors and developers. Oh, and Vitalik, of course.

How far we’ve come

Ethereum’s issue has always been its inability to scale. If you can’t handle hundreds or even thousands of transactions a second, then you’re not really fit for purpose as a global computer. The result for Ethereum has been a year of increasing network congestion and brutally high transaction fees. Yet the fact that so much continues to be built and transacted on Ethereum tells you exactly how strong these network effects already are.

There’s also an increasing focus on three major changes to the Ethereum network due to arrive before the end of the year:

  • EIP-1559: Lifts one of DeFi’s major innovations in the field of ‘tokenomics’ by implementing a token burn system on every transaction. You use the Ethereum network, you burn some ETH, never to be seen again.
  • Optimism: due for a full launch in July, the Optimism sidechain should significantly improve the speed of Ethereum by leveraging largely incomprehensible processes such as ZK-Rollups and Sharding. It’s already being used by the Synthetix protocol, where it has saved users over $10 million dollars in transaction fees.
  • Ethereum 2.0: This is the big one, Ethereum’s transition from Proof-of-Work to Proof-of-Stake. It’s been coming for years, but the importance of the change cannot be overstated. Already more than 4 million Ethereum are being staked on the Ethereum 2.0 contract, offering an insight into how much ETH might fall out of circulation once the entire thing goes live (potentially in November).

In short, Ethereum is just getting started. The price might seem gaspingly high right now, but remember that Ethereum isn’t trying to be Walmart or Mastercard. It wants to be the thing that Walmart and Mastercard are built on – and that’s a prospect worth having a stake in.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://blog.coinjar.com/all-eyes-on-ethereum/

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Blockchain

CARBON: A perfect avenue for showcasing talent

Republished by Plato

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Creative professionals sometimes find themselves figuring out where to showcase their creations and profit from them. 

It’s a tough situation to be in. But with CARBON, the dilemma is lessened. 

CARBON creates an avenue that gives creators both a place to show off their talents and a chance to earn money.

CARBON features an ecosystem of a global scale that integrates open finance, fashion, art, music, and non-fungible tokens (NFTs).

One of its objectives is to enable a community that can inspire, support, and reward professionals.

What the CARBON marketplace looks like

As what an ideal marketplace should be, CARBON has a lot to offer, helping emerging brands and artists have a shot even at the highest levels of competition they have to deal with.

Items related to fashion, art pieces, music, and digital assets such as NFTs are offered in the CARBON marketplace. A dedicated team will carefully select these products.

The market will also see exclusive collaborations featuring various artists and brands for physical commodities and digital items that will be dropped on a weekly basis.

As for its audience, they should prepare for a diverse experience brought by a market evolving into a global ecosystem.

About CARBON

CARBON was founded by Chad Pickard who also acts as its Chief Executive Officer (CEO). It is an open finance wallet and super ecosystem that is built for the whole world of fashion, art, music, and culture while also integrating digital assets through NFT offerings.

It has its native token, the $GEMS, and its wallet integrates Neobank functions like the financial technology company Revolut and a non-custodial smart wallet for decentralized finance (DeFi) and cryptocurrencies.

This integration allows users to hold fiat (government-backed) and digital currencies as well as NFTs in a single platform.

The wallet is linked to the market, giving users the ability to directly select items that they desire.

CARBON doesn’t just work as a marketplace where purchases can be made, but also as an avenue where professional creators get to showcase their talents and inspire others to promote their own. It provides them with a winning environment.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://bitcoinerx.com/bitcoin/carbon-a-perfect-avenue-for-showcasing-talent/

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Blockchain

How Tokenplace can help crypto traders get the best buy and sell prices

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Any seasoned crypto trader knows that the price of a digital currency can vary across different exchanges worldwide.

Thus, one of the basic strategies for investing in digital currencies is to scout for the best buy or sell price and that’s where Tokenplace comes in.

Access to different crypto exchanges via one platform

To take full advantage of the price variance across exchanges, some traders often resort to opening accounts on different platforms. But Tokenplace eliminates this need because the platform allows one to access different exchanges worldwide.

This means that a user will only need his Tokenplace account and password to gain access to the entire crypto market. This is a lot simpler compared to having to main multiple accounts and passwords for other exchanges for different trading pairs.

Tokenplace is basically an online trading platform and exchange aggregator. With its automated order-splitting, orders are automatically broken up to ensure that traders get the best price for every coin they want to trade.

Easy to use and features-packed trading terminal

Tokenplace is also very appealing to newer investors because it is very easy to use. For instance, users will only need to access a single window for their deposits, withdrawals, trading, and exchanging.

The platform can be accessed from both desktop and mobile devices. Tokenplace’s onboarding and one-time registration process are also one of the quickest in the industry.

Tokenplace uses advanced algorithms for its multi-exchange order splitting feature. With this high-tech tool, users can get the best buy and sell price every time they trade.

Website: https://tokenplace.com/
Twitter: https://twitter.com/TokenplaceTOK
LinkedIn: https://www.linkedin.com/company/tokenplace

IMPORTANT NOTE: This is a paid press release, which BitcoinerX has posted as part of a commercial agreement. BitcoinerX is not responsible for producing this content and does not endorse the products or services mentioned. It is the responsibility of the company posting the press release to ensure the material is credible and accurate. BitcoinerX is not responsible for any damage or loss caused to anyone who chooses to use the company, product or services mentioned in the press release. BitcoinerX does not recommend using the information in the press release to form the sole basis of investment decisions.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://bitcoinerx.com/blockchain/how-tokenplace-can-help-crypto-traders-get-the-best-buy-and-sell-prices/

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