Polkadot (DOT) in the Dangerous Zone: Risk of Falling to $23

The volatility and a probable change in the balance of power. These opinions are suggested by the previous two trading weeks on the Polkadot (DOT) market. The unlimited growth trend initiated by buyers since December 2020 has begun to weaken. If on 15 February, buyers started a new local growth wave from about $26, then on 23 February, buyers returned the price to this mark at high volumes. In the previous idea, we expected a test of $34-35. However, buyers surpassed themselves and confidently raised the DOT price to $42.28. This prank of buyers almost accelerated the growth trend: Attempt to Accelerate Growth Trend Failed – Test for Strenght Lies Ahead for Polkadot As you can see in the chart, buyers could not find support at highs and fix above the growth channel. So without hesitation, sellers launched a counterattack, lowering the DOT price for 2 days by almost 36%. Sellers have severely weakened the growth trend in the Polkadot (DOT) market. This is clearly seen in the price movements nature within the new growth wave. The chart shows that the DOT price for some time was outside the trend channel and at the moment “creeps” to the trend line….

ETH Market Correction Is Not Over Yet

The sharp price collapse in the ETH market has become a big problem for its investors. In fact, since 20 February, sellers have managed to lower the ETH price by almost 40%. Sellers met with serious resistance in the range of $1260-1360 and were forced to temporarily retreat. In the previous article, we wrote that we expect a minimal correction in the ETH market in this range. Having broken the bottom trend line, which buyers confidently have been keeping since 11 January, sellers have called into question the all-time high update in the near future: High Volumes in ETH Market Exacerbate the situation As we see in the chart, trading volumes during the price fall since 22 February are high. Buyers received the main blow on 22-23 February. This is noticeable both in terms of volumes and aggressive candles. Then for 7 days, the ETH price fell by inertia without the support of strong sellers. The result of such a fall was a good price rebound from the liquidity zone of $1260-1360 today. However, the main question remains open – will the price correction in the ETH market continue? The maximum possible correction at the moment can end at $760….

The Price Correction in the AAVE Market can Reach $200

A rather depressing period began in the AAVE market on 13 February. The AAVE price’s parabolic growth, which began in December 2020, locally ended at $581. Thus, the price did not reach the forecasted reversal zone, which we wrote about in the previous article. In 12 days, sellers managed to lower the AAVE price by 45%. The main defeat of buyers was the loss of the mark of $475: Range of $470-510 is AAVE’s Sales Zone As we can see in the chart, trading volumes during the price growth were abnormally high. On 10 February after trying to break the range of $470-510, the AAVE price did not continue to grow aggressively. This fact shows that in this range the big AAVE players have organized a liquidity sales zone. Currently, the range of $470-510 is under the sellers’ control. The probability of a continued correction in the AAVE market is quite high. If we analyze the AAVE market on a smaller timeframe, we see that buyers managed to correct the previous fall wave by 50%: Last Chance for AAVE to Continue Growing Is In the Range of $260-285 If buyers manage to keep the mark of $330 during the local…

Wyoming Senator Stands Against the Cryptocurrency Wallet Ruling

The latest rumor circulating in the crypto community is that Steven Mnuchin, a US Secretary of the Treasury, may release unfavorable cryptocurrency wallet-related legislation. According to our findings, the secretary left his office at the end of 2020, but it seems he’s bent on adding a stringent law on cryptocurrency. Everyone is anxious from what we gather because the new law may ban or limit self-custodied asset wallets, which is an important part of the crypto industry. Many people are not happy about it, and a US Senator-elect from Wyoming, Cynthia Lummis, is not too accepting of the new legislation. In a tweet on Friday, Lummis wrote that she spoke with the Secretary to rethink the new legislation with something doable. Other’s Reaction on Cryptocurrency Wallet Legislation Apart from Lummis, other government figures are expressing concern about the legal move. Many members of Congress have recently reacted against the idea of establishing such a law. Other prominent figures in the crypto industry have warned that the consequences of such legislation will be dire. However, Lummis also stated in her tweet that maybe the Treasury Dept is too hasty in their decision. However, she suggested that the Treasury start a process…

Yearn.Finance: YFI Market Fall May Continue to $21,000

The new trading week in the Yearn.Finance market began with a total price collapse to $28,320. In two days, the price fell by 35% and tested the main buyers’ support zone of $28,000-32,000. However, the YFI collapse was not an isolated case in the DeFi ecosystem. The entire crypto market politely surrendered to Bitcoin and followed it for correction. After falling by 22% in two days, the BTC market showed that caution is the main term that cryptocurrency market players must learn. In the previous article, we wrote that the YFI market seeks to continue to grow to $58,000. Though, buyers took the initiative in the market earlier, testing the mark of $53,000. The YFI price has stopped within the lower trend line of the wedge, which gives a chance to think about the formation of a new growth wave. Therefore, we will not rush to such conclusions. Sellers Losing Control Over Range of $40,600-41,600 The critical point in the YFI market is now the range of $40,600-41,600. This range can be a good foundation for sellers to continue the YFI price fall. If buyers are unable to fix above this range during the current counterattack, we will expect the…

An Exclusive Guide to Understand All About Blockchain Oracles

Blockchain oracles are third-party services that help link blockchains to the outside world. They give information to smart contracts. Oracles also send and verify real-world occurrences and submit relevant information to smart contracts. Furthermore, blockchain oracles also feed smart contracts with external information to determine smart contracts’ future actions. One of the main reasons for blockchain oracles is that they provide scalability and interoperability, paramount in blockchain ecosystems. Importance of Interoperability in Blockchain   Interoperability helps blockchain interact with existing financial systems efficiently and without any hitches. Before now, everyone in the blockchain space thought that the smart contract ecosystem would be controlled by a dominant chain that hosts and manages smart contracts. We now know that there are lots of smart contract protocols out there.  For smart contracts to function optimally, they need to work seamlessly with each other; this is where blockchain interoperability comes in. How Blockchain Oracles work  Let’s say Jane and Jackson placed a bet on who the US Presidential election winner will be. On the one hand, Jane believes that the winner would be Trump, and Jackson believes that Biden would win.  They both agree on the terms and conditions of the bet and lock their…

Ethereum (ETH): Global Price Correction Target is $700-760

As recently as 2 weeks ago, the Ethereum market showed good growth prospects and strong buyers’ positions. In the previous article, we wrote that buyers managed to win $1530 and increase the probability of continued growth up to $2900. However, even today buyers are struggling to survive and maintain the growth trend. The main reason for the ETH price sharp correction, which began with the beginning of the new trading week, was the BTC market fall. In just one day, the BTC price fell by 15%, testing the mark of $48,255. An unexpected correction for many Ethereum market participants called into question the strength of buyers and the strength of the trend line: Buyers’ Initiative Provokes a Correction in ETH Market The sluggish ETH price growth during February, which had every chance to accelerate the trend of buyers, was a great opportunity for sellers to start the correction. The current black trend line, which buyers have been skillfully keeping since 11 January, protects the price from failure in the range of $1260-1360. As you can see in the chart, it is in this range that the ETH price slowed down significantly in January 2020. It is this range that should…

The euphoria in the DeFi market continues and it seems that uncorrected growth will last forever. In 2 weeks, LINK buyers managed to raise the price by 40%. The ETH market is exhausted, but is moving towards our final target of $40, which we wrote about in the previous article: Is Chainlink (LINK) Market Weak? Starting from 4 February, the LINK price increasingly touches the main trend line of buyers, which steadily reflects all the attacks of sellers from 23 December 2020. Given the fact that new local highs continue to be given to buyers harder and harder – the LINK market is preparing for a correction. If we analyze the trading volumes in the LINK market, we see a systematic decrease. According to Coinmarketcap LINK ranks 2nd place among the DeFi tokens in daily trading with a result of $2,843,285,762. The fact of continued sluggish growth at decreased volumes leads to thoughts of inertia and the price search for the final point for reversal. Looking at the wedge formation on 18 January, everything indicates that this final point may be the mark of $40. At the moment, the LINK price trading range has narrowed to 15% due to the…

UNI Price Sleeps and Gathers Strength Before the Spring Rally

The phenomenal growth of the UNI price, which began in late December 2020, significantly slowed down. Raising the price by almost 600%, buyers paused. Since the beginning of February, sellers have been trying to impose their game on the UNI market, but they can’t cope with the problematic range of $16.8-17.8. As you can see in the chart, sellers have already tried to break this range three times. However, every time the price tests the liquidity zone of $16.8-17.8 there is a sharp price jump up. Daily Trading Volumes Significantly Decrease Since the end of January, trading volumes in the UNI market have substantially fallen. At the time of writing, the daily trading volume is $641,674,824. Though, even such a result allows the UNI market to take 3rd place in the ranking of the Defi coins. The current protracted consolidation is very intriguing. The fact is that after a 3-week price stop in a relatively narrow range usually begins a strong movement. The main task is to skilfully determine in which direction. At first glance, it may seem that the UNI price forms the well-known “head and shoulders” pattern. Although, given that sellers managed to correct the previous growth wave…

Polkadot (DOT): Easy Correction Before the Test of $34-35

The trading week on the DOT market ended with a great result for buyers. Growing by more than 50% for the week, the DOT price set a new all-time high of $30.21 and began its correction. A strong growth trend that began in late 2020 could ban investors by almost 500%. It was the buyers’ break of the mark $6 and the courageous price keeping during the fall on 11 January that gave buyers a push to a crazy rally. DOT Trading volumes Keep Rising As Price Grows The highest trading volumes were recorded in the period from 13 to 16 April. During this period, buyers actively fought for the range of $14.6-15.86. At the moment, this is the main range of buyers’ support that many medium- and long-term investors expect. In general, the daily trading volume on the DOT market ranks 12th place among all crypto coins, slightly behind LINK. As we see on Coinmarketcap, the new growth wave since the beginning of February has been supported by volume growth. It which indicates a fairly high level of investors’ interest in this project. Therefore, we consider today’s local fall in the DOT price as a correction, after which the…

Yearn.Finance Climbs To An All-time High, What to Expect Next From YFI?

After the total Yearn.Finance fall in September 2020, the trajectory of price movement has changed drastically. If at the start of the project we observed vertical growth without stops, then starting from November 2020, most of the YFI price movement is occupied by consolidation. About a month ago, we published an article describing our expectation that YFI prices would continue growing to an all-time high. The main condition of this scenario was that buyers should keep control of the range of $28,000-32,000: YFI Consolidation Before Reaching the Range of $58,000 As you can see on the chart, buyers have been accumulating strengths in this range for a whole month to form a new growth wave. In just 4 days after consolidation, buyers managed to update an all-time high, fixing a new one. At the time of writing, this is $49,463.06. If you analyze the trading volumes, one conclusion emerges – the popularity of YFI is growing. In the previous article, we noted that YFI volumes are in 3rd place among the DeFi tokens. Today, the YFI market is 2 with daily volumes of $1,856,423,377. Looking at the confident breakout of the previous historical high, the next YFI target is at…

DeFi Composite Index Reaches the peak of Its Glory

The DeFi sector’s growth since the beginning of 2021 inspires great optimism about the future of this ecosystem. The overall growth dynamics of the DeFi tokens market is perfectly reflected in the DeFi composite index, which has grown by more than 200% in 2 months. Buyers managed to cope with the main problem – the range of $700-740. The test of this range on 11 January showed buyers’ strength and became the starting point of a new powerful growth wave. In fact, the DeFi composite index price is moving in a clear growth channel for a month. The last local price correction within this channel was on 22 January, after an attempt by buyers to fix above the mark of $1156. This mark was the target of our previous article. DeFi Composite Index Price Growth Fades The new wave of growth began on 22 January and has been going on for 20 days. The price is moving near the channel upper trend line and buyers are trying to accelerate the index growth. However, is the DeFi market strong enough at the moment? The last 4 candles in the daily timeframe do not look as confident as in the period from…

AAVE is Approaching the Probable Turning Point

If a month and a half ago the AAVE project was known among investors who are supporters of DeFi, now this token is extremely popular among stock speculators. And this is natural because in just one month buyers managed to raise the AAVE price by more than 500%. The main catalyst for such a strong Defi token growth was the global mark of a $91 breakout. The efforts of buyers throughout December 2020 were not in vain and after fixing the price above $91, the AAVE price began a real bull run. Parabolic AAVE Price growth to Stop in Range of $650-750 After each local stop the AAVE growth only accelerates. Proof of this is the trend curve, which shows an almost vertical momentum of price growth. Today, buyers were able to break the limits of the previous local consolidation. Now they direct the price to the next target, the range of $650-750. In this range, there is a high probability of the beginning of the AAVE price reversal. Possible correction of a powerful momentum is predicted by two factors: Abnormally high volumes on 4 February, which showed that the big players began to take profits. Weak local highs updates,…

Is the Ethereum (ETH) Price Aiming at the Mark of $2900?

Tense air is floating in the cryptocurrency market today, including ETH price. Buyers managed to get out of the trap, breaking the upper trend line of the wedge. We wrote about this situation in the previous article. Thus, the ETH price fixes above the mark of $1700. The main question at the moment is whether buyers are ready to push the price up, given a new growth wave of Bitcoin dominance? Price Slowdown Near $1700 Could Hamper ETH Growth After a month-long struggle of Ethereum market participants for the range of $1270-1360, buyers continued the price growth. However, given the effort spent on the breakout range of $1270-1360, the ETH price would have to fly up without looking back. Although, a local fall in the Ethereum market on 4 February shows that there are enough buyers in the market. Trading volumes remain high, but this does not help the price to accelerate growth. If we pay attention to the global growth wave from November 2020, we can see that buyers managed to break the price growth channel, accelerating the trend. If we draw a new channel, it turns out that now buyers have two options. Accelerate the trend again or…

The new month in the LINK market continued the consolidation started earlier near the all-time high. After a strong growth wave on 12 January, during which the price increased by 80% in 5 days, sellers became noticeably more active. From 17 January, it is extremely difficult for buyers to update local highs and continue the active growth phase: As you can see from the chart, the volatility of the coin has significantly dropped and the price is trading quite close to the trend line, which buyers have been keeping since December 2020. LINK Market Freezes to Shoot Again Analyzing our previous article on the Link, our forecast worked out completely and the price actually increased 2 times. However, the main question is whether there is a prospect of continued growth in the LINK market. Since 27 January, the LINK trading range has narrowed significantly. Along with the trading range decreasing, the daily trading volumes also decreased. If on 16-18 January, during the aggressive attack of buyers, the trading volumes averaged $6.5-8 billion a day, now this figure is 3 times less: Critical Range for Growth Scenario is $22.6-23.6 A systematic volumes decrease, given that the price is in a narrow…

Sushiswap (SUSHI) has Grown by 2000% in 3 Months

The crazy rally in the Sushiswap market, which has been going on since November 2020, has reached its historic mark of $15.97. In just three months, SUSHI investors saw a 2000% price increase and a new all-time high of $16.6. Investors’ interest in this Defi token is confirmed by the daily trading volume of $747,844,237. As a result, Sushiswap (SUSHI) ranks 4th place among DeFi tokens, behind LINK, AAVE, and UNI. The SUSHI market was able to impose quite good competition, if we mention its total failure in September 2020. Sushiswap Becomes the Top DeFi Project A good place under the sun the project was able to win on the number of locked funds. According to Defipulse, Sushiswap is among the top 6 best DeFi space projects with TVL $2,96 billion. As you can see from the chart, the number of locked funds at the time of writing is almost 2 times bigger than in September 2020. And in September we well remember what resonance such phenomenon as Defi and the mysterious SUSHI project caused. However, is there still life in buyers to continue the uncorrected SUSHI price growth? The Level of 15.34 and Probable Correction to $7.3-8.3 If you…

Harvard Student Organization Announces Its First Uniswap Delegate Pitch

A blockchain-focused student organization from the Harvard Law School has published its first pitch on the Uniswap governance forum. Named ‘Harvard Law School Blockchain and FinTech Initiative‘ (HLSBFI), the group published a delegation pitch along with a description of their core values. If they wish, UNI holders can decide to transfer their voting power to the student group. HLSBFI shared the announcement on February 5. According to the Harvard student organization, their mission at Uniswap is to promote education and career-developing opportunities. These opportunities are directed towards students who are interested in industries such as blockchain and finance. Seeing the tremendous growth of Uniswap, they have decided to spearhead innovation and provide insight on governance proposals. In the past weeks, HLSBFI worked on a list of core values that forms the basis of their decision-making process. The list includes a number of points, including long-term value creation, fairness, education, maintenance of Uniswap’s original mission, diversity & inclusion, transparency, and independent decision-making. All points work towards growing the central ethos of cryptocurrencies, such as inclusiveness and decentralization. The group does not plan to approve fraudulent proposals nor those that disproportionately benefit the proposal creator. Moreover, the students wish to maintain the…

Yearn Finance Loses $2.8M in yDAI flash loan exploit

Yesterday, the Yearn Finance team reported that a yDAI exploit led to $2.8 million in losses. An anonymous individual supposedly hacked the yearn DAI v1 vault for $11 million in total but only managed to retrieve a small portion of it. At the time of writing, Yearn developers have disabled DAI, TUSD, USDC, and USDT vaults while security experts investigate the scene. The team plans to release a full report on the state of Yearn Vaults and yesterday’s vault. So far, there is no indication of when the report will arrive. While both Yearn Finance’s and Andre Cronje’s Twitter profiles remain empty, core developer Banteg shared more information on the issue. In a chain of different tweets, Banteg revealed that Yearn discovered and mitigated the exploit in the span of 10 minutes. In the short time frame, the attacker stole 513k in DAI, $1.7 million in USDT, and 506k in 3CRV. He executed a total of 11 transactions in order to perform the hack. The exploit was performed through a string of flash loans gathered from dYdX and Aave V2. The hacker used these flash loans to interact with Compound and Curve Finance. After depositing and withdrawing the funds five…

Yearn Finance Creator Hints at New Partnership With Anyswap

A recent Twitter post by Yearn Finance creator Andre Cronje hints at a potential new partnership with Anyswap, a cross-chain DEX. Cronje shared a list of smart contract transactions and their costs, showcasing how incredibly cheap they are. Moreover, the famous developer says Anyswap enables users to exchange assets between a number of popular blockchain networks. Shared on February 4, Andre Cronje published a tweet describing the capabilities of Anyswap and its meager costs. All token transfers and exchanges charge considerably less than the standard gas fees that traders meet on networks like Ethereum. Furthermore, the DEX enables its users to conduct cross-chain transfers across five different networks. These networks include Bitcoin, Ethereum, Binance Smart Chain, Fantom, and Solana. Cronje ended the post on the note of “Don’t worry, it gets better ;)” which might imply that the developer plans to seek out to partner with Anyswap. In that case, the entire Yearn Finance ecosystem would gain access to both low transaction costs and cross-chain features. Such an event would have a dramatic influence on not only Yearn but the entire DeFi market as well. More projects would be interconnected, and users could seamlessly transfer assets between multiple platforms. Anyswap…

Uniswap (UNI) Soared by 500% in a Month

The new year in the UNI market began with an active price growth continuation. In fact, in last 35 days, the UNI price has increased 5 times. Two weeks ago, in another article we expected the price to continue to grow with the target of $8.29, then at the time of writing the UNI price reaches $20. The phenomenal growth of the young DeFi protocol is also supported by the trading volume, thanks to which UNI ranks 2nd place among all DeFi projects. By updating the all-time high, UNI buyers managed to significantly accelerate the growth trend, going beyond the price channel: Sellers not allowing the price to surge As you can see in the chart, the last UNI price correction took place from 17 to 21 January in the range of $8-9. Starting from 30 January, the price on the UNI market began to slow down and move into a consolidation mode. However, given the absence of really dangerous counterattacks from sellers, it seems that the current price stop is temporary. Considering the situation on the 4-hour timeframe, we see that buyers have enough strength to absorb all the volumes of sellers: If on 30-31 January sellers had enough…

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Polkadot (DOT) in the Dangerous Zone: Risk of Falling to $23

The volatility and a probable change in the balance of power. These opinions are suggested by the previous two trading weeks on the Polkadot (DOT) market. The unlimited growth trend initiated by buyers since December 2020 has begun to weaken. If on 15 February, buyers started a new local growth wave from about $26, then on 23 February, buyers returned the price to this mark at high volumes. In the previous idea, we expected a test of $34-35. However, buyers surpassed themselves and confidently raised the DOT price to $42.28. This prank of buyers almost accelerated the growth trend: Attempt to Accelerate Growth Trend Failed – Test for Strenght Lies Ahead for Polkadot As you can see in the chart, buyers could not find support at highs and fix above the growth channel. So without hesitation, sellers launched a counterattack, lowering the DOT price for 2 days by almost 36%. Sellers have severely weakened the growth trend in the Polkadot (DOT) market. This is clearly seen in the price movements nature within the new growth wave. The chart shows that the DOT price for some time was outside the trend channel and at the moment “creeps” to the trend line….

ETH Market Correction Is Not Over Yet

The sharp price collapse in the ETH market has become a big problem for its investors. In fact, since 20 February, sellers have managed to lower the ETH price by almost 40%. Sellers met with serious resistance in the range of $1260-1360 and were forced to temporarily retreat. In the previous article, we wrote that we expect a minimal correction in the ETH market in this range. Having broken the bottom trend line, which buyers confidently have been keeping since 11 January, sellers have called into question the all-time high update in the near future: High Volumes in ETH Market Exacerbate the situation As we see in the chart, trading volumes during the price fall since 22 February are high. Buyers received the main blow on 22-23 February. This is noticeable both in terms of volumes and aggressive candles. Then for 7 days, the ETH price fell by inertia without the support of strong sellers. The result of such a fall was a good price rebound from the liquidity zone of $1260-1360 today. However, the main question remains open – will the price correction in the ETH market continue? The maximum possible correction at the moment can end at $760….

The Price Correction in the AAVE Market can Reach $200

A rather depressing period began in the AAVE market on 13 February. The AAVE price’s parabolic growth, which began in December 2020, locally ended at $581. Thus, the price did not reach the forecasted reversal zone, which we wrote about in the previous article. In 12 days, sellers managed to lower the AAVE price by 45%. The main defeat of buyers was the loss of the mark of $475: Range of $470-510 is AAVE’s Sales Zone As we can see in the chart, trading volumes during the price growth were abnormally high. On 10 February after trying to break the range of $470-510, the AAVE price did not continue to grow aggressively. This fact shows that in this range the big AAVE players have organized a liquidity sales zone. Currently, the range of $470-510 is under the sellers’ control. The probability of a continued correction in the AAVE market is quite high. If we analyze the AAVE market on a smaller timeframe, we see that buyers managed to correct the previous fall wave by 50%: Last Chance for AAVE to Continue Growing Is In the Range of $260-285 If buyers manage to keep the mark of $330 during the local…

Wyoming Senator Stands Against the Cryptocurrency Wallet Ruling

The latest rumor circulating in the crypto community is that Steven Mnuchin, a US Secretary of the Treasury, may release unfavorable cryptocurrency wallet-related legislation. According to our findings, the secretary left his office at the end of 2020, but it seems he’s bent on adding a stringent law on cryptocurrency. Everyone is anxious from what we gather because the new law may ban or limit self-custodied asset wallets, which is an important part of the crypto industry. Many people are not happy about it, and a US Senator-elect from Wyoming, Cynthia Lummis, is not too accepting of the new legislation. In a tweet on Friday, Lummis wrote that she spoke with the Secretary to rethink the new legislation with something doable. Other’s Reaction on Cryptocurrency Wallet Legislation Apart from Lummis, other government figures are expressing concern about the legal move. Many members of Congress have recently reacted against the idea of establishing such a law. Other prominent figures in the crypto industry have warned that the consequences of such legislation will be dire. However, Lummis also stated in her tweet that maybe the Treasury Dept is too hasty in their decision. However, she suggested that the Treasury start a process…

Yearn.Finance: YFI Market Fall May Continue to $21,000

The new trading week in the Yearn.Finance market began with a total price collapse to $28,320. In two days, the price fell by 35% and tested the main buyers’ support zone of $28,000-32,000. However, the YFI collapse was not an isolated case in the DeFi ecosystem. The entire crypto market politely surrendered to Bitcoin and followed it for correction. After falling by 22% in two days, the BTC market showed that caution is the main term that cryptocurrency market players must learn. In the previous article, we wrote that the YFI market seeks to continue to grow to $58,000. Though, buyers took the initiative in the market earlier, testing the mark of $53,000. The YFI price has stopped within the lower trend line of the wedge, which gives a chance to think about the formation of a new growth wave. Therefore, we will not rush to such conclusions. Sellers Losing Control Over Range of $40,600-41,600 The critical point in the YFI market is now the range of $40,600-41,600. This range can be a good foundation for sellers to continue the YFI price fall. If buyers are unable to fix above this range during the current counterattack, we will expect the…

An Exclusive Guide to Understand All About Blockchain Oracles

Blockchain oracles are third-party services that help link blockchains to the outside world. They give information to smart contracts. Oracles also send and verify real-world occurrences and submit relevant information to smart contracts. Furthermore, blockchain oracles also feed smart contracts with external information to determine smart contracts’ future actions. One of the main reasons for blockchain oracles is that they provide scalability and interoperability, paramount in blockchain ecosystems. Importance of Interoperability in Blockchain   Interoperability helps blockchain interact with existing financial systems efficiently and without any hitches. Before now, everyone in the blockchain space thought that the smart contract ecosystem would be controlled by a dominant chain that hosts and manages smart contracts. We now know that there are lots of smart contract protocols out there.  For smart contracts to function optimally, they need to work seamlessly with each other; this is where blockchain interoperability comes in. How Blockchain Oracles work  Let’s say Jane and Jackson placed a bet on who the US Presidential election winner will be. On the one hand, Jane believes that the winner would be Trump, and Jackson believes that Biden would win.  They both agree on the terms and conditions of the bet and lock their…

Ethereum (ETH): Global Price Correction Target is $700-760

As recently as 2 weeks ago, the Ethereum market showed good growth prospects and strong buyers’ positions. In the previous article, we wrote that buyers managed to win $1530 and increase the probability of continued growth up to $2900. However, even today buyers are struggling to survive and maintain the growth trend. The main reason for the ETH price sharp correction, which began with the beginning of the new trading week, was the BTC market fall. In just one day, the BTC price fell by 15%, testing the mark of $48,255. An unexpected correction for many Ethereum market participants called into question the strength of buyers and the strength of the trend line: Buyers’ Initiative Provokes a Correction in ETH Market The sluggish ETH price growth during February, which had every chance to accelerate the trend of buyers, was a great opportunity for sellers to start the correction. The current black trend line, which buyers have been skillfully keeping since 11 January, protects the price from failure in the range of $1260-1360. As you can see in the chart, it is in this range that the ETH price slowed down significantly in January 2020. It is this range that should…

The euphoria in the DeFi market continues and it seems that uncorrected growth will last forever. In 2 weeks, LINK buyers managed to raise the price by 40%. The ETH market is exhausted, but is moving towards our final target of $40, which we wrote about in the previous article: Is Chainlink (LINK) Market Weak? Starting from 4 February, the LINK price increasingly touches the main trend line of buyers, which steadily reflects all the attacks of sellers from 23 December 2020. Given the fact that new local highs continue to be given to buyers harder and harder – the LINK market is preparing for a correction. If we analyze the trading volumes in the LINK market, we see a systematic decrease. According to Coinmarketcap LINK ranks 2nd place among the DeFi tokens in daily trading with a result of $2,843,285,762. The fact of continued sluggish growth at decreased volumes leads to thoughts of inertia and the price search for the final point for reversal. Looking at the wedge formation on 18 January, everything indicates that this final point may be the mark of $40. At the moment, the LINK price trading range has narrowed to 15% due to the…

UNI Price Sleeps and Gathers Strength Before the Spring Rally

The phenomenal growth of the UNI price, which began in late December 2020, significantly slowed down. Raising the price by almost 600%, buyers paused. Since the beginning of February, sellers have been trying to impose their game on the UNI market, but they can’t cope with the problematic range of $16.8-17.8. As you can see in the chart, sellers have already tried to break this range three times. However, every time the price tests the liquidity zone of $16.8-17.8 there is a sharp price jump up. Daily Trading Volumes Significantly Decrease Since the end of January, trading volumes in the UNI market have substantially fallen. At the time of writing, the daily trading volume is $641,674,824. Though, even such a result allows the UNI market to take 3rd place in the ranking of the Defi coins. The current protracted consolidation is very intriguing. The fact is that after a 3-week price stop in a relatively narrow range usually begins a strong movement. The main task is to skilfully determine in which direction. At first glance, it may seem that the UNI price forms the well-known “head and shoulders” pattern. Although, given that sellers managed to correct the previous growth wave…

Polkadot (DOT): Easy Correction Before the Test of $34-35

The trading week on the DOT market ended with a great result for buyers. Growing by more than 50% for the week, the DOT price set a new all-time high of $30.21 and began its correction. A strong growth trend that began in late 2020 could ban investors by almost 500%. It was the buyers’ break of the mark $6 and the courageous price keeping during the fall on 11 January that gave buyers a push to a crazy rally. DOT Trading volumes Keep Rising As Price Grows The highest trading volumes were recorded in the period from 13 to 16 April. During this period, buyers actively fought for the range of $14.6-15.86. At the moment, this is the main range of buyers’ support that many medium- and long-term investors expect. In general, the daily trading volume on the DOT market ranks 12th place among all crypto coins, slightly behind LINK. As we see on Coinmarketcap, the new growth wave since the beginning of February has been supported by volume growth. It which indicates a fairly high level of investors’ interest in this project. Therefore, we consider today’s local fall in the DOT price as a correction, after which the…

Technical Analysis that you can count on

Polkadot (DOT) in the Dangerous Zone: Risk of Falling to $23

The volatility and a probable change in the balance of power. These opinions are suggested by the previous two trading weeks on the Polkadot (DOT) market. The unlimited growth trend initiated by buyers since December 2020 has begun to weaken. If on 15 February, buyers started a new local growth wave from about $26, then on 23 February, buyers returned the price to this mark at high volumes. In the previous idea, we expected a test of $34-35. However, buyers surpassed themselves and confidently raised the DOT price to $42.28. This prank of buyers almost accelerated the growth trend: Attempt to Accelerate Growth Trend Failed – Test for Strenght Lies Ahead for Polkadot As you can see in the chart, buyers could not find support at highs and fix above the growth channel. So without hesitation, sellers launched a counterattack, lowering the DOT price for 2 days by almost 36%. Sellers have severely weakened the growth trend in the Polkadot (DOT) market. This is clearly seen in the price movements nature within the new growth wave. The chart shows that the DOT price for some time was outside the trend channel and at the moment “creeps” to the trend line….

ETH Market Correction Is Not Over Yet

The sharp price collapse in the ETH market has become a big problem for its investors. In fact, since 20 February, sellers have managed to lower the ETH price by almost 40%. Sellers met with serious resistance in the range of $1260-1360 and were forced to temporarily retreat. In the previous article, we wrote that we expect a minimal correction in the ETH market in this range. Having broken the bottom trend line, which buyers confidently have been keeping since 11 January, sellers have called into question the all-time high update in the near future: High Volumes in ETH Market Exacerbate the situation As we see in the chart, trading volumes during the price fall since 22 February are high. Buyers received the main blow on 22-23 February. This is noticeable both in terms of volumes and aggressive candles. Then for 7 days, the ETH price fell by inertia without the support of strong sellers. The result of such a fall was a good price rebound from the liquidity zone of $1260-1360 today. However, the main question remains open – will the price correction in the ETH market continue? The maximum possible correction at the moment can end at $760….

The Price Correction in the AAVE Market can Reach $200

A rather depressing period began in the AAVE market on 13 February. The AAVE price’s parabolic growth, which began in December 2020, locally ended at $581. Thus, the price did not reach the forecasted reversal zone, which we wrote about in the previous article. In 12 days, sellers managed to lower the AAVE price by 45%. The main defeat of buyers was the loss of the mark of $475: Range of $470-510 is AAVE’s Sales Zone As we can see in the chart, trading volumes during the price growth were abnormally high. On 10 February after trying to break the range of $470-510, the AAVE price did not continue to grow aggressively. This fact shows that in this range the big AAVE players have organized a liquidity sales zone. Currently, the range of $470-510 is under the sellers’ control. The probability of a continued correction in the AAVE market is quite high. If we analyze the AAVE market on a smaller timeframe, we see that buyers managed to correct the previous fall wave by 50%: Last Chance for AAVE to Continue Growing Is In the Range of $260-285 If buyers manage to keep the mark of $330 during the local…

Wyoming Senator Stands Against the Cryptocurrency Wallet Ruling

The latest rumor circulating in the crypto community is that Steven Mnuchin, a US Secretary of the Treasury, may release unfavorable cryptocurrency wallet-related legislation. According to our findings, the secretary left his office at the end of 2020, but it seems he’s bent on adding a stringent law on cryptocurrency. Everyone is anxious from what we gather because the new law may ban or limit self-custodied asset wallets, which is an important part of the crypto industry. Many people are not happy about it, and a US Senator-elect from Wyoming, Cynthia Lummis, is not too accepting of the new legislation. In a tweet on Friday, Lummis wrote that she spoke with the Secretary to rethink the new legislation with something doable. Other’s Reaction on Cryptocurrency Wallet Legislation Apart from Lummis, other government figures are expressing concern about the legal move. Many members of Congress have recently reacted against the idea of establishing such a law. Other prominent figures in the crypto industry have warned that the consequences of such legislation will be dire. However, Lummis also stated in her tweet that maybe the Treasury Dept is too hasty in their decision. However, she suggested that the Treasury start a process…

Yearn.Finance: YFI Market Fall May Continue to $21,000

The new trading week in the Yearn.Finance market began with a total price collapse to $28,320. In two days, the price fell by 35% and tested the main buyers’ support zone of $28,000-32,000. However, the YFI collapse was not an isolated case in the DeFi ecosystem. The entire crypto market politely surrendered to Bitcoin and followed it for correction. After falling by 22% in two days, the BTC market showed that caution is the main term that cryptocurrency market players must learn. In the previous article, we wrote that the YFI market seeks to continue to grow to $58,000. Though, buyers took the initiative in the market earlier, testing the mark of $53,000. The YFI price has stopped within the lower trend line of the wedge, which gives a chance to think about the formation of a new growth wave. Therefore, we will not rush to such conclusions. Sellers Losing Control Over Range of $40,600-41,600 The critical point in the YFI market is now the range of $40,600-41,600. This range can be a good foundation for sellers to continue the YFI price fall. If buyers are unable to fix above this range during the current counterattack, we will expect the…

An Exclusive Guide to Understand All About Blockchain Oracles

Blockchain oracles are third-party services that help link blockchains to the outside world. They give information to smart contracts. Oracles also send and verify real-world occurrences and submit relevant information to smart contracts. Furthermore, blockchain oracles also feed smart contracts with external information to determine smart contracts’ future actions. One of the main reasons for blockchain oracles is that they provide scalability and interoperability, paramount in blockchain ecosystems. Importance of Interoperability in Blockchain   Interoperability helps blockchain interact with existing financial systems efficiently and without any hitches. Before now, everyone in the blockchain space thought that the smart contract ecosystem would be controlled by a dominant chain that hosts and manages smart contracts. We now know that there are lots of smart contract protocols out there.  For smart contracts to function optimally, they need to work seamlessly with each other; this is where blockchain interoperability comes in. How Blockchain Oracles work  Let’s say Jane and Jackson placed a bet on who the US Presidential election winner will be. On the one hand, Jane believes that the winner would be Trump, and Jackson believes that Biden would win.  They both agree on the terms and conditions of the bet and lock their…

Ethereum (ETH): Global Price Correction Target is $700-760

As recently as 2 weeks ago, the Ethereum market showed good growth prospects and strong buyers’ positions. In the previous article, we wrote that buyers managed to win $1530 and increase the probability of continued growth up to $2900. However, even today buyers are struggling to survive and maintain the growth trend. The main reason for the ETH price sharp correction, which began with the beginning of the new trading week, was the BTC market fall. In just one day, the BTC price fell by 15%, testing the mark of $48,255. An unexpected correction for many Ethereum market participants called into question the strength of buyers and the strength of the trend line: Buyers’ Initiative Provokes a Correction in ETH Market The sluggish ETH price growth during February, which had every chance to accelerate the trend of buyers, was a great opportunity for sellers to start the correction. The current black trend line, which buyers have been skillfully keeping since 11 January, protects the price from failure in the range of $1260-1360. As you can see in the chart, it is in this range that the ETH price slowed down significantly in January 2020. It is this range that should…

The euphoria in the DeFi market continues and it seems that uncorrected growth will last forever. In 2 weeks, LINK buyers managed to raise the price by 40%. The ETH market is exhausted, but is moving towards our final target of $40, which we wrote about in the previous article: Is Chainlink (LINK) Market Weak? Starting from 4 February, the LINK price increasingly touches the main trend line of buyers, which steadily reflects all the attacks of sellers from 23 December 2020. Given the fact that new local highs continue to be given to buyers harder and harder – the LINK market is preparing for a correction. If we analyze the trading volumes in the LINK market, we see a systematic decrease. According to Coinmarketcap LINK ranks 2nd place among the DeFi tokens in daily trading with a result of $2,843,285,762. The fact of continued sluggish growth at decreased volumes leads to thoughts of inertia and the price search for the final point for reversal. Looking at the wedge formation on 18 January, everything indicates that this final point may be the mark of $40. At the moment, the LINK price trading range has narrowed to 15% due to the…

UNI Price Sleeps and Gathers Strength Before the Spring Rally

The phenomenal growth of the UNI price, which began in late December 2020, significantly slowed down. Raising the price by almost 600%, buyers paused. Since the beginning of February, sellers have been trying to impose their game on the UNI market, but they can’t cope with the problematic range of $16.8-17.8. As you can see in the chart, sellers have already tried to break this range three times. However, every time the price tests the liquidity zone of $16.8-17.8 there is a sharp price jump up. Daily Trading Volumes Significantly Decrease Since the end of January, trading volumes in the UNI market have substantially fallen. At the time of writing, the daily trading volume is $641,674,824. Though, even such a result allows the UNI market to take 3rd place in the ranking of the Defi coins. The current protracted consolidation is very intriguing. The fact is that after a 3-week price stop in a relatively narrow range usually begins a strong movement. The main task is to skilfully determine in which direction. At first glance, it may seem that the UNI price forms the well-known “head and shoulders” pattern. Although, given that sellers managed to correct the previous growth wave…

Polkadot (DOT): Easy Correction Before the Test of $34-35

The trading week on the DOT market ended with a great result for buyers. Growing by more than 50% for the week, the DOT price set a new all-time high of $30.21 and began its correction. A strong growth trend that began in late 2020 could ban investors by almost 500%. It was the buyers’ break of the mark $6 and the courageous price keeping during the fall on 11 January that gave buyers a push to a crazy rally. DOT Trading volumes Keep Rising As Price Grows The highest trading volumes were recorded in the period from 13 to 16 April. During this period, buyers actively fought for the range of $14.6-15.86. At the moment, this is the main range of buyers’ support that many medium- and long-term investors expect. In general, the daily trading volume on the DOT market ranks 12th place among all crypto coins, slightly behind LINK. As we see on Coinmarketcap, the new growth wave since the beginning of February has been supported by volume growth. It which indicates a fairly high level of investors’ interest in this project. Therefore, we consider today’s local fall in the DOT price as a correction, after which the…

Polkadot (DOT) in the Dangerous Zone: Risk of Falling to $23

The volatility and a probable change in the balance of power. These opinions are suggested by the previous two trading weeks on the Polkadot (DOT) market. The unlimited growth trend initiated by buyers since December 2020 has begun to weaken. If on 15 February, buyers started a new local growth wave from about $26, then on 23 February, buyers returned the price to this mark at high volumes. In the previous idea, we expected a test of $34-35. However, buyers surpassed themselves and confidently raised the DOT price to $42.28. This prank of buyers almost accelerated the growth trend: Attempt to Accelerate Growth Trend Failed – Test for Strenght Lies Ahead for Polkadot As you can see in the chart, buyers could not find support at highs and fix above the growth channel. So without hesitation, sellers launched a counterattack, lowering the DOT price for 2 days by almost 36%. Sellers have severely weakened the growth trend in the Polkadot (DOT) market. This is clearly seen in the price movements nature within the new growth wave. The chart shows that the DOT price for some time was outside the trend channel and at the moment “creeps” to the trend line….

ETH Market Correction Is Not Over Yet

The sharp price collapse in the ETH market has become a big problem for its investors. In fact, since 20 February, sellers have managed to lower the ETH price by almost 40%. Sellers met with serious resistance in the range of $1260-1360 and were forced to temporarily retreat. In the previous article, we wrote that we expect a minimal correction in the ETH market in this range. Having broken the bottom trend line, which buyers confidently have been keeping since 11 January, sellers have called into question the all-time high update in the near future: High Volumes in ETH Market Exacerbate the situation As we see in the chart, trading volumes during the price fall since 22 February are high. Buyers received the main blow on 22-23 February. This is noticeable both in terms of volumes and aggressive candles. Then for 7 days, the ETH price fell by inertia without the support of strong sellers. The result of such a fall was a good price rebound from the liquidity zone of $1260-1360 today. However, the main question remains open – will the price correction in the ETH market continue? The maximum possible correction at the moment can end at $760….

The Price Correction in the AAVE Market can Reach $200

A rather depressing period began in the AAVE market on 13 February. The AAVE price’s parabolic growth, which began in December 2020, locally ended at $581. Thus, the price did not reach the forecasted reversal zone, which we wrote about in the previous article. In 12 days, sellers managed to lower the AAVE price by 45%. The main defeat of buyers was the loss of the mark of $475: Range of $470-510 is AAVE’s Sales Zone As we can see in the chart, trading volumes during the price growth were abnormally high. On 10 February after trying to break the range of $470-510, the AAVE price did not continue to grow aggressively. This fact shows that in this range the big AAVE players have organized a liquidity sales zone. Currently, the range of $470-510 is under the sellers’ control. The probability of a continued correction in the AAVE market is quite high. If we analyze the AAVE market on a smaller timeframe, we see that buyers managed to correct the previous fall wave by 50%: Last Chance for AAVE to Continue Growing Is In the Range of $260-285 If buyers manage to keep the mark of $330 during the local…

Wyoming Senator Stands Against the Cryptocurrency Wallet Ruling

The latest rumor circulating in the crypto community is that Steven Mnuchin, a US Secretary of the Treasury, may release unfavorable cryptocurrency wallet-related legislation. According to our findings, the secretary left his office at the end of 2020, but it seems he’s bent on adding a stringent law on cryptocurrency. Everyone is anxious from what we gather because the new law may ban or limit self-custodied asset wallets, which is an important part of the crypto industry. Many people are not happy about it, and a US Senator-elect from Wyoming, Cynthia Lummis, is not too accepting of the new legislation. In a tweet on Friday, Lummis wrote that she spoke with the Secretary to rethink the new legislation with something doable. Other’s Reaction on Cryptocurrency Wallet Legislation Apart from Lummis, other government figures are expressing concern about the legal move. Many members of Congress have recently reacted against the idea of establishing such a law. Other prominent figures in the crypto industry have warned that the consequences of such legislation will be dire. However, Lummis also stated in her tweet that maybe the Treasury Dept is too hasty in their decision. However, she suggested that the Treasury start a process…

Yearn.Finance: YFI Market Fall May Continue to $21,000

The new trading week in the Yearn.Finance market began with a total price collapse to $28,320. In two days, the price fell by 35% and tested the main buyers’ support zone of $28,000-32,000. However, the YFI collapse was not an isolated case in the DeFi ecosystem. The entire crypto market politely surrendered to Bitcoin and followed it for correction. After falling by 22% in two days, the BTC market showed that caution is the main term that cryptocurrency market players must learn. In the previous article, we wrote that the YFI market seeks to continue to grow to $58,000. Though, buyers took the initiative in the market earlier, testing the mark of $53,000. The YFI price has stopped within the lower trend line of the wedge, which gives a chance to think about the formation of a new growth wave. Therefore, we will not rush to such conclusions. Sellers Losing Control Over Range of $40,600-41,600 The critical point in the YFI market is now the range of $40,600-41,600. This range can be a good foundation for sellers to continue the YFI price fall. If buyers are unable to fix above this range during the current counterattack, we will expect the…

An Exclusive Guide to Understand All About Blockchain Oracles

Blockchain oracles are third-party services that help link blockchains to the outside world. They give information to smart contracts. Oracles also send and verify real-world occurrences and submit relevant information to smart contracts. Furthermore, blockchain oracles also feed smart contracts with external information to determine smart contracts’ future actions. One of the main reasons for blockchain oracles is that they provide scalability and interoperability, paramount in blockchain ecosystems. Importance of Interoperability in Blockchain   Interoperability helps blockchain interact with existing financial systems efficiently and without any hitches. Before now, everyone in the blockchain space thought that the smart contract ecosystem would be controlled by a dominant chain that hosts and manages smart contracts. We now know that there are lots of smart contract protocols out there.  For smart contracts to function optimally, they need to work seamlessly with each other; this is where blockchain interoperability comes in. How Blockchain Oracles work  Let’s say Jane and Jackson placed a bet on who the US Presidential election winner will be. On the one hand, Jane believes that the winner would be Trump, and Jackson believes that Biden would win.  They both agree on the terms and conditions of the bet and lock their…

Ethereum (ETH): Global Price Correction Target is $700-760

As recently as 2 weeks ago, the Ethereum market showed good growth prospects and strong buyers’ positions. In the previous article, we wrote that buyers managed to win $1530 and increase the probability of continued growth up to $2900. However, even today buyers are struggling to survive and maintain the growth trend. The main reason for the ETH price sharp correction, which began with the beginning of the new trading week, was the BTC market fall. In just one day, the BTC price fell by 15%, testing the mark of $48,255. An unexpected correction for many Ethereum market participants called into question the strength of buyers and the strength of the trend line: Buyers’ Initiative Provokes a Correction in ETH Market The sluggish ETH price growth during February, which had every chance to accelerate the trend of buyers, was a great opportunity for sellers to start the correction. The current black trend line, which buyers have been skillfully keeping since 11 January, protects the price from failure in the range of $1260-1360. As you can see in the chart, it is in this range that the ETH price slowed down significantly in January 2020. It is this range that should…

The euphoria in the DeFi market continues and it seems that uncorrected growth will last forever. In 2 weeks, LINK buyers managed to raise the price by 40%. The ETH market is exhausted, but is moving towards our final target of $40, which we wrote about in the previous article: Is Chainlink (LINK) Market Weak? Starting from 4 February, the LINK price increasingly touches the main trend line of buyers, which steadily reflects all the attacks of sellers from 23 December 2020. Given the fact that new local highs continue to be given to buyers harder and harder – the LINK market is preparing for a correction. If we analyze the trading volumes in the LINK market, we see a systematic decrease. According to Coinmarketcap LINK ranks 2nd place among the DeFi tokens in daily trading with a result of $2,843,285,762. The fact of continued sluggish growth at decreased volumes leads to thoughts of inertia and the price search for the final point for reversal. Looking at the wedge formation on 18 January, everything indicates that this final point may be the mark of $40. At the moment, the LINK price trading range has narrowed to 15% due to the…

UNI Price Sleeps and Gathers Strength Before the Spring Rally

The phenomenal growth of the UNI price, which began in late December 2020, significantly slowed down. Raising the price by almost 600%, buyers paused. Since the beginning of February, sellers have been trying to impose their game on the UNI market, but they can’t cope with the problematic range of $16.8-17.8. As you can see in the chart, sellers have already tried to break this range three times. However, every time the price tests the liquidity zone of $16.8-17.8 there is a sharp price jump up. Daily Trading Volumes Significantly Decrease Since the end of January, trading volumes in the UNI market have substantially fallen. At the time of writing, the daily trading volume is $641,674,824. Though, even such a result allows the UNI market to take 3rd place in the ranking of the Defi coins. The current protracted consolidation is very intriguing. The fact is that after a 3-week price stop in a relatively narrow range usually begins a strong movement. The main task is to skilfully determine in which direction. At first glance, it may seem that the UNI price forms the well-known “head and shoulders” pattern. Although, given that sellers managed to correct the previous growth wave…

Polkadot (DOT): Easy Correction Before the Test of $34-35

The trading week on the DOT market ended with a great result for buyers. Growing by more than 50% for the week, the DOT price set a new all-time high of $30.21 and began its correction. A strong growth trend that began in late 2020 could ban investors by almost 500%. It was the buyers’ break of the mark $6 and the courageous price keeping during the fall on 11 January that gave buyers a push to a crazy rally. DOT Trading volumes Keep Rising As Price Grows The highest trading volumes were recorded in the period from 13 to 16 April. During this period, buyers actively fought for the range of $14.6-15.86. At the moment, this is the main range of buyers’ support that many medium- and long-term investors expect. In general, the daily trading volume on the DOT market ranks 12th place among all crypto coins, slightly behind LINK. As we see on Coinmarketcap, the new growth wave since the beginning of February has been supported by volume growth. It which indicates a fairly high level of investors’ interest in this project. Therefore, we consider today’s local fall in the DOT price as a correction, after which the…

More News

ETH Market Correction Is Not Over Yet

The sharp price collapse in the ETH market has become a big problem for its investors. In fact, since 20 February, sellers have managed to lower the ETH price by almost 40%. Sellers met with serious resistance in the range of $1260-1360 and were forced to temporarily retreat. In the previous article, we wrote that we expect a minimal correction in the ETH market in this range. Having broken the bottom trend line, which buyers confidently have been keeping since 11 January, sellers have called into question the all-time high update in the near future: High Volumes in ETH Market Exacerbate the situation As we see in the chart, trading volumes during the price fall since 22 February are high. Buyers received the main blow on 22-23 February. This is noticeable both in terms of volumes and aggressive candles. Then for 7 days, the ETH price fell by inertia without the support of strong sellers. The result of such a fall was a good price rebound from the liquidity zone of $1260-1360 today. However, the main question remains open – will the price correction in the ETH market continue? The maximum possible correction at the moment can end at $760….

Ethereum (ETH): Global Price Correction Target is $700-760

As recently as 2 weeks ago, the Ethereum market showed good growth prospects and strong buyers’ positions. In the previous article, we wrote that buyers managed to win $1530 and increase the probability of continued growth up to $2900. However, even today buyers are struggling to survive and maintain the growth trend. The main reason for the ETH price sharp correction, which began with the beginning of the new trading week, was the BTC market fall. In just one day, the BTC price fell by 15%, testing the mark of $48,255. An unexpected correction for many Ethereum market participants called into question the strength of buyers and the strength of the trend line: Buyers’ Initiative Provokes a Correction in ETH Market The sluggish ETH price growth during February, which had every chance to accelerate the trend of buyers, was a great opportunity for sellers to start the correction. The current black trend line, which buyers have been skillfully keeping since 11 January, protects the price from failure in the range of $1260-1360. As you can see in the chart, it is in this range that the ETH price slowed down significantly in January 2020. It is this range that should…

Is the Ethereum (ETH) Price Aiming at the Mark of $2900?

Tense air is floating in the cryptocurrency market today, including ETH price. Buyers managed to get out of the trap, breaking the upper trend line of the wedge. We wrote about this situation in the previous article. Thus, the ETH price fixes above the mark of $1700. The main question at the moment is whether buyers are ready to push the price up, given a new growth wave of Bitcoin dominance? Price Slowdown Near $1700 Could Hamper ETH Growth After a month-long struggle of Ethereum market participants for the range of $1270-1360, buyers continued the price growth. However, given the effort spent on the breakout range of $1270-1360, the ETH price would have to fly up without looking back. Although, a local fall in the Ethereum market on 4 February shows that there are enough buyers in the market. Trading volumes remain high, but this does not help the price to accelerate growth. If we pay attention to the global growth wave from November 2020, we can see that buyers managed to break the price growth channel, accelerating the trend. If we draw a new channel, it turns out that now buyers have two options. Accelerate the trend again or…

ETH Price Marks An All Time High: Buyers Plan a New Rally

Not backing down and take it at all costs! This is the mood of investors in the ETH market for the fourth week. Abnormal trading volumes, which on some days exceeded even Bitcoin trading volumes, are clearly aimed at breaking the historical high range. The ETH price growth accelerating in late 2020 gave investors a clear signal that Ethereum is not going to lag behind Bitcoin. And it also has all the prerequisites for bull run. DeFi sector significantly strengthened ETH impact on the crypto market In addition, the DeFi sector’s active growth, which can be traced to a record amount of locked funds of $28.5 billion, only strengthens ETH and increases its impact on the cryptocurrency market. In September, 1 billion of the locked funds were the reason for writing an article about the DeFi project. And now the top 9 first projects will easily raise this amount (the top 3 has from $3 to $5 billion). In fact, an important factor is the positive impact of Ethereum 2.0 on commissions. If we look at the ETH price growth chart, we see that the gas price is moving in the allowed range and does not allow itself such tricks,…

Failed Historical High Update and ETH Correction Beginning

The new trading week on the ETH market started with sourness. At the time of writing, sellers have almost completely destroyed all the achievements of buyers in the previous week. And the achievements were considerable. Buyers raised the ETH price by almost 35% last week and tested the critical range of $1260-1350. In the previous article, we wrote about the importance of this range in ETH market history. Besides, this price zone’s seriousness is confirmed by last week’s trading volumes, which were the highest for the entire period of ETH existence. This record for volumes on the one hand is gratifying, as high volumes indicate interest in the coin. However, if you compare the efforts of buyers and the weekly candle size – it becomes clear that the price rested against the strong walls of sellers seeking correction. Who is to blame, Bitcoin? Basically, the sharp correction in the ETH market began due to the beginning of the BTC price fall. Having fallen by almost 20% since 10 January, Bitcoin has pulled all crypto and DeFi markets. An interesting fact is that a new fall momentum began to form over the weekend. The previous weekend gave investors a new growth…

High Ethereum Fees Create Powerful Uncertainty for DeFi

Gas fees for transactions on the Ethereum network have reached new highs, making the DeFi ecosystem highly unstable. While some believe that it is a natural indication of high demand, others think that users should migrate to other smart contract networks. For example, Binance’s CEO made a comparison between Ethereum and the Binance Smart Chain (BSC), showcasing BSC’s better performance. The leading altcoin has increased significantly in value since the start of the year. Stalling at $740 for almost a week, ETH managed to overcome multiple levels of resistance and reach up to $1,102 on January 5. Likewise, gas fees also began to increase along with higher DeFi usage, trading, and transactions on Ethereum. According to historical data from Etherscan, average gas fees are approaching 2020 September levels. The smart contract ecosystem reached the highest levels of fees in a while, specifically 259 Gwei at the start of the week. While this is nowhere near compared to what we have seen since Ethereum’s launch in 2015, high ETH prices are having a high effect on the gwei value itself. Numerous cryptocurrency users now encounter transaction fees between $100 and $150. As such, it makes it impossible to use any dApp…

ETH Price Set to Surge above $1100 – The Bullish Wave Continues

A price increase of 60% marked the first trading days of the new year on the ETH market. The magic of the weekend never ceases to amaze. It was on Sunday that buyers completely beheaded sellers, taking control of the range of $800-840 and setting a new local high. This range was our target in the previous article. However, this turned out to be only a minimal plan. Buyers were able to accelerate the trend by breaking the global trend line of the black growth channel. In this channel, the ETH price has been moving since March 2020. Buyers approached the critical range around the historical high of $1260-1360. It is from this range that the ETH price fall by 94% began in January 2018. ETH trading volumes are confidently catching up with BTC Trading volumes in the ETH market continue to increase. Ethereum continues to rank 3rd place in daily trading with a result of $66,876,851,164. Though, to overtake BTC in volume and become the largest project in the crypto world, the target is more than achievable. The current situation in the BTC market hints at the price growth stop. BTC growth stop provides oxygen for the ETH development….

Messari Researcher: Institutions Will Realize The Value Of Ethereum In 2021

According to a researcher from the leading crypto analytics firm Messari, institutions will not skip Ethereum in 2021. So far, we have only seen companies and institutional investors talk about their Bitcoin investments. But what about other cryptocurrencies? As the next iteration of the Ethereum network comes closer, these entities might also realize that ETH is a valuable crypto asset as well. 2018 was the year of regulations, 2019 the year of blockchain adoption, and 2020 the year of institutional interest. As the year comes to an end, the crypto community wonders if institutions will also continue buying cryptocurrencies in 2021. Per the words of Ryan Watkins, a senior researcher at Messari, we can expect a spark of interest in Ethereum next year. In a Twitter post that he published on December 27, the Messari researcher predicts that institutions will jump from BTC to Ethereum. Once they realize that digital assets beyond Bitcoin are valuable, Watkins believes that we will see similar multimillion investments for ETH in 2021. As Defiye reported earlier, the CME Group announced an Ethereum Futures investment product on December 16. The global markets company intends to open the smart contract ecosystem to the world by helping…

ETH Broke Free from Bear’s paws and is Moving to $840

The titanic efforts of buyers on the weekend paid off at the beginning of the new week. On 23 December, sellers raised the question of the possible growth trend continuation without a deep correction. The attempt to break the liquidity range of $565-575 and buyers’ local trend line looked quite impressive. And the sluggish ETH price return over the next three days highlighted the weakness of buyers. However, a long weekend this time played out to buyers’ advantage. On Saturday, buyers began storming the range of $625-640. Given the suffering of buyers in this range from 24 November, this attack looked very calm: Sellers’ weakness and buyers’ new lease of life Buyers patiently selected every inch of price space and looked around to see if a barrage of offers from sellers would hit them. However, closing the daily candle without problem in the range of $565-575 buyers took on a new lease of life. On Sunday, the ETH price updated the local high and showed growth by 13%. The reason for this was a temporary stop of the BTC frantic growth and the beginning of its dominance decrease. If we exactly understand in detail when the ETH growth began, it…

ETH Market Gives a Signal for Correction to $460

ETH Market trading week plunged into the corrective ambitions of sellers. As early as Sunday, 20 December, the ETH price began to decline systematically. This week sellers’ record is a break of the global growth trend line and a test of $551.28. Local price correction was at high volumes, which shows a high number of sellers in the ETH market. The situation is becoming increasingly tense as the consolidation trading range narrows daily: Buyers lost control of the range $625-635 As we can see, the fight for the range of $625-635 has dragged on. The recent triumph of buyers in honour of breaking this range has now turned against them. The plan which was about a brilliant test of the range $800-840 failed. Sellers are effectively selling ETH at local highs, hinting to the market to prepare for a deeper correction. A false breakout of the trend line on 23 December showed that buyers are still ready to defend themselves. However, their attacks are weakening and volumes remain high. Given the fact that all attention is focused on Bitcoin – free resources are not enough to strengthen the ETH market. That is why during the BTC price growth from 22…

Bears May Create an Amazing Crash for Ethereum as Asset Repeats Summer Pattern

Will Ethereum crash just like in summer? The asset performs worse than ever as all eyes are pointed towards Bitcoin, achieving meager gains compared to its December 1 high. Technical analysis indicates that ETH is stuck in a range that bounds down investors for months. Will a breakout finally conclude in which direction the main smart contract ecosystem is heading? Ethereum’s time of ‘leading the market’ has come to an end. No longer does the altcoin push the market forward headfirst while even assets like Bitcoin wait for confirmation. As of December, ETH performs worse than ever in 2020 as it fails to match BTC’s speed. Despite seeing that Bitcoin reached a new all-time high, Ethereum bulls have not pushed the asset that much higher compared to the start of December. Ethereum should be in a good place given that it is fundamentally performing better than ever. So why do we not see prices mirror the success of developers? As basic trendlines show on the 4H timeframe, Ethereum is stuck in a range that has not been broken. As a matter of fact, this range has a far stronger resistance than support. This may lead us to believe ETH must…

Ripple: Bitcoin and Ethereum Are Chinese-Controlled Crypto Assets

As news of SEC (Securities and Exchange Commission) against Ripple emerges, the blockchain company releases a report in which it calls both Bitcoin and Ethereum a Chinese-controlled asset. Shortly after, Ethereum co-founder Vitalik Buterin responded to the claims, stating that Ripple has sunk to ‘new levels of strangeness.’ Ripple is about to face the consequences of a decision made by the SEC a few years ago when it refused to acknowledge XRP as a non-security. While Bitcoin and Ethereum have survived the regulatory storm by being given the title of a digital asset, Ripple remained in a questionable state. Today, rumors of a potential lawsuit by the SEC have emerged. According to multiple news reports, the SEC plans to sue Ripple and its CEO and co-founder Chris Larsen. The regulatory agency explicitly claims that the blockchain company has broken laws against selling unregistered securities. Garlinghouse has by all means confirmed the rumors and revealed that he expects the SEC to file its lawsuit by Christmas. Specifically, the CEO believes that the SEC is ‘fundamentally wrong’ for suing Ripple, stating: “XRP is a currency, and does not have to be registered as an investment contract…In fact, the Justice Department and the…

Why Eth2 didn’t Increase the ETH Influence on the Crypto Market?

Unsuccessful for sellers, the first trading week in December showed that demand in the ETH market is quite high. The main achievement of buyers this week is overtaking the range of $625-633. This range for 3 days is the main buyers’ support during consolidation (consolidation limits $615-672). Initially, this consolidation was in the form of a triangle, which sellers managed to break down yesterday. Buyers have kept the range of $625-633. As a result the space of consolidation was expanded. Thus, opinions about the critical point in the ETH market differ. For example, one twitter user did not expect the ETH price to fall below $641: The main problem for buyers is in the mark of $648. As we can see in the chart the main amount of volumes were accumulated within the consolidation. Therefore, only after fixing above it, buyers can expect a test of $672. @George1Trader has an interesting opinion about ETH. He expressed a hypothesis in Twitter  about active growth after a false breakout of the mark $625: Now the ETH price is just testing the strength of this scenario. If the test of this range is successful, George expects a test of $830. However, the situation…

CME Group To Increase Institutional Exposure by Launching Ethereum Futures Product in 2021

The world’s largest financial derivatives exchange, CME Group, announced its plans to launch an Ethereum Futures product in 2021. According to a blog post released on December 16, derivatives contracts for the greatest smart contract ecosystem will be available starting from February 8, 2021. Will history repeat itself? After all, the CME Group is notorious for launching new crypto products at the height of a bull cycle. Institutional investors are finally here. In 2020, corporations and investment funds are interested in the world of cryptocurrency more than ever. Now that Ethereum is posed to create a blockchain network for smart contracts that is truly scalable, leading derivatives exchange CME Group plans to launch a Futures product for Ether. The product is yet to be approved by regulatory agencies within the United States. If they pass the product, we may see an institutional-grade futures product for ETH by February next year. CME Group has already released details of the contracts, which reveal cash-made settlements. Each Ether contract within the futures product will be equal to 50 ETH. According to the financial company, institutional investors have access to many key benefits by engaging with the ETH contract. First, they have efficient ether…

ETH Sellers Capitulation and New Attempt to Break $620

ETH trading week, which clearly began under the auspices of sellers, ended with their surrender. The weekly candle closed at $590 – by only 1.8% lower than the price at which the trading week began. However, the 10% pin on the weekly candle indicates the great ambitions of sellers, which failed to realize. A rather similar situation was observed during the week from 23 November, when buyers did not allow the correction start and updated the local low. The desire to catch up with the ETH high-speed train before the price breaks the critical range of $600-620 – became the basis for supporting buyers’ trend last week. Sellers are too weak for their game The nature of fall in the ETH market has remained unchanged since early December. After each local impulse of sellers there is a deep buyers’ counterattack. In the daily timeframe, this looks like a correction channel before a new wave of growth: If during 24-26 November sellers showed their righteous anger, now the situation looks like the last breath before the surrender. Daily trading volumes only confirm this situation. During the price fall from 1 December, trading volumes significantly fell. It indicates a low interest of…

This year has been favorable to the number one cryptocurrency, Bitcoin. It doubled in price when 2020 started, and many people predicted that it would continue to rise. The price of bitcoin recently reached its 2017 highs, but it seems that the expectations of reaching $20,000 are not going to happen. Due to the recent rally in Bitcoin price, many cryptocurrencies came back to life. Right now, investors are eagerly waiting for the high rally of altcoins such as Chainlink, Ethereum, and Ripple. Bitcoin Got unexpected support from investors One of the reasons behind the highs of Bitcoin this year is that investors used it to hedge against inflation. They saw it forthcoming following the excessive minting by the USA federal reserves. This support increased Bitcoin’s reputation as digital gold. The bitcoin price rose by 150%, but it seems that other cryptocurrencies are leaving it behind in price increase. Ethereum added a price increase of 300% in the last twelve months, a 2x increase in Bitcoin price. Ripple, which is the third crypto in the world, increased by 165% this year alone. Another crypto that has overcome Bitcoin in price increase is Chainlink. This crypto is mainly what DeFi projects…

SEC’s Hester Peirce Says DeFi and Ethereum 2.0 are a New Concept for Regulators

Reports suggest SEC commissioner Hester Peirce says DeFi and Ethereum 2.0 has become a challenging sector for the SEC. Hester explains that DeFi raises a lot of legal issues that are still ongoing without a possible resolution at hand. Peirce mentioned that DeFi project regulations might not be under the SEC’s purview, but most of the projects are on the verge of falling under securities laws. Backing up the crypto mom, the MD of Santander Bank & Enterprise Ethereum Alliance chair, John Whelan, made some interesting comments. According to him, if one should view Defi from the financial perspective, it can enable autonomous programmable digital securities in years to come. But, this could well be in the future because many DeFi offerings are only tokens without liquidity that serves as a source of fund for blockchain projects. But still, Peirce is cautioning those in the decentralized finance space to be careful. How does DeFi challenge Sec? DeFi operates in a way that makes intermediaries like exchanges and banks unnecessary in its transactions. It removes third-party players to facilitate faster access and completion of a financial transaction. But according to Peirce, SEC cannot function without the intermediaries which DeFi is eliminating….

ETH 2.0 Developer Recalls Lessons Learned from ETH 2.0

There has been growing anticipation about the launch of Ethereum 2.0. And as the launch date approached, the developers recount the several challenges and lessons they learned. Phase 0 of Ethereum 2.0 introduces the staking mechanism, which everyone in the community has been waiting for from the network. There’s also the launch of Beacon Chain, which is the Eth2 blockchain. There was a noticeable increase in the progress of Ethereum 2.0 in 2020 as the team introduced many testnets. However, there were problems relating to block production and synchronization. One of the reasons for this was the difficulty in maintaining an equal pace amongst 7 different clients, using different programming languages and problems of technology stacks. But in an interview with a Nimbus developer, Zahary Karadjov, we learned some of the issues surrounding the launch of Ethereum 2.0. Zahary Karadjov on ETH 2.0 Question one: What is the reason behind Nimbus inability to catch up with the shared specifications for Ethereum 2.0 (Nimbus is one of the seven clients on the ecosystem) In Zahari’s answer, he indicated that they concentrated on preparing for Mainnet. But also, other platform teams already had most of the important components in the specification, such…

Whale Suggests $100 Million Worth of Bitcoin Moved from Bitfinex Hack

Checking by today’s value, the whole funds stolen from Bitfinex in 2016 has risen to be above $2.3 billion including the recent Bitcoin hack, and the wrongdoers are moving it slowly. In 2016, Bitfinex lost close to $100 million worth of BTC. Nobody could identify the person or persons behind it. But yesterday, the hackers moved the funds from 14 idle wallets. The total number of BTC is 5045.48, and the value today for those coins is up to $98.3 million. These coins have remained in idle wallets since 2016, and no one seemed interested in using them until recently. The 2016 hack on the exchange was due to a problem with multi-signature wallets on the platform. The movement yesterday is not the first move on the stolen funds. The hackers moved some of the coins in 2016. Also, in August, they moved $5.6 million coins from the hack. Bitcoin shifted suddenly When bitcoin is moved from idle wallets, it is called “Awakening”. This is a situation where people suddenly move bitcoin that no one is using to other wallets. The coins are usually labeled “Satoshi-era,” which means that those idle bitcoins were mined in the era of the founder….

Why Should MicroStrategy Invest in Ethereum 2.0?

While MicroStrategy continues to invest in Bitcoin, now with a new private offering worth $400 million, investors are wondering why CEO Michael Saylor has no interest in Ethereum 2.0. After all, fundamental analysis shows that ETH2 may be much more than just a cryptocurrency. Will we see institutional interest in the near future or does ‘smart money’ only care about digital gold? Following the company’s announcement yesterday, Digital Currency Group founder Barry Silbert sparked a discussion on Twitter about Ethereum. Seeing that MicroStrategy has no intention of investing in the leading altcoin, Silbert asked the community who may be ‘the MicroStrategy of Ethereum.’ While most have replied jokingly, some have referred to ConsenSys as the MicroStrategy of ETH. MicroStrategy and its CEO Michael Saylor are currently the most famous names in the cryptocurrency sector. The firm’s numerous Bitcoin investments have mainly contributed to the fame. At the time of writing, the company owns a total of 40,000 BTC which equals $756 million. Yesterday, Saylor announced yet another investment worth $400 million which is still to be approved. If passed, the company will collect $400 million in convertible senior notes and use it to buy Bitcoin. With such a strong focus…

Opinion

DeFi Is Big, but It Must Move on From Being Crypto’s Wild West

The world of decentralized finance (DeFi)  is a mysterious place filled with many opposing ideas and concepts. While some claim that the sector is the future of finance, describing today’s protocols as ‘self-driving banks,’ others think of DeFi as a nesting ground and safe haven for hackers.  With the market’s exponential rise in 2020, both users and developers gained access to a range of opportunities that make our lives easier. But truth be told, there are plenty of pretty nasty sides to DeFi and its community. Anonymous teams, rug pulls, multimillion-dollar hacks, and various other factors prevent newcomers from joining the market and becoming investors. We are still living in the digital wild west much like our ICO predecessors have in 2016/17. Years have passed since the last bull run but little has changed.  This time around, should we again wait for men in suits to ‘fix’ our problems with tight regulations, or should we the users take a stand and change DeFi for the better?  Problem #1: Hackers and smart contract fallibility Before utilizing any problem-solving strategies, one should always analyze the problem itself to find the root cause via causes and effects. We know that DeFi is a…

Effective Tips to Prevent Phishing in Cryptocurrency Space

Phishing is prevalent in the cryptocurrency space. Many players have fallen prey to it, and unfortunately, many people might still fall into the trap if we all don’t fight them. The good news is that there are ways to identify phishing traps and avoid them. Validating every source Cybercriminals are evolving every day and now have many tricks up their sleeves. They can trick their victims into clicking malicious links, downloading corrupted programs, and even visit pages that will demand their personal information. This method of cyberattack is a common experience in the community. For instance, a hardware crypto wallet ledger recorded a data breach that involved users’ data. After the data breach, the scammers have been sending legit-looking emails to many users to download the latest version of the software. But the users could quickly identify the emails as a scam because they studied the email address closely and noticed some red flags. These scammers can call you or send an email or a link asking you to provide certain details about you. Sometimes they can tell you that you’ve been scammed and wants you to do what they say to help you. No matter how they come to…

Ethereum 2.0 Launch Might Ignite Another DeFi Boom

As the crypto community looks forward to the launch of Ethereum 2.0. There are still speculations as to whether the upgrade can match the speed of DeFi in growth. Currently, the Ethereum ecosystem functions correctly on the proof-of-work, but this new upgrade will introduce proof-of-stake to the system.  To achieve this, the network has to first ship the latest blockchain, “The Beacon Chain,” to carry out these upgrades. This blockchain will pave the way for other upgrades on the network to exist successfully. For instance, it will make the network more secure, scalable, and sustainable. It will also introduce staking to the network for the purpose of securing the network more. Once the Beacon Chain has successfully launched and operational, another upgrade, “Shard chains,” will follow suit. Implications and effects of Ethereum 2.0 The decentralized finance sector recorded significant growth at the beginning of the year. Many players in the crypto space have speculated that the sector may soon collapse as fast as it grew. However, it seems that if Ethereum 2.0 launches successfully, there’s going to be lots of noticeable changes in the DeFi markets. Even though some argue otherwise, some prominent figures believe that DeFi has come to…

As DeFi Grows Countless Opportunities to Rise for Cryptocurrency Investors

The year 2020 brought about a lot of changes in the financial sector. Many economies and financial institutions had to introduce stringent monetary policies to bring order and normalcy to the global market. Due to these monetary policies, investors, institutions, and businesses had to lean towards alternative assets such as cryptocurrencies. That’s the reason behind the boom in some of these assets and the growth of Decentralized Finance. Bitcoin recorded positive growth in 2020, even though the world’s economy was crashing. It rose in value and hiked in prices for the first time after the 2017 bull run. The cryptocurrency sector became the leading currency once again in market capitalization following the rise in value. Another financial system that saw great improvements this year is the DeFi sector. DeFi also recorded impressive growth due to the increase in the overall cryptocurrency activities on the Ethereum ecosystem. But there’s ongoing speculation that the rise in DeFi activities may soon lead to massive losses. Many players in the space invested massively in DeFi projects. Although it seems that many of these protocols are not solid and reliable. The experts believe that such projects may contribute to the downfall of the sector. What’s…

Is Bitcoin Shortage Beneficial for Cryptocurrency Investors?

Crypto investors may be seeing good times at the front as a possible Bitcoin shortage may be of immense benefit to them. Given the political drama gradually unfolding in the United States, the country’s Federal Reserve is printing money excessively. The effect is that other assets’ prices are continually increasing, and that’s a welcome development for crypto investors. One of the assets that have seen an increase in recent times is BTC. To say that the hike in prices is stunning is a complete understatement. Many tech companies are pushing money into Bitcoin, which has helped the currency record a hike in value. As investment pours in, Bitcoin price spikes According to the latest findings, companies like Cash App and PayPal are on a frenzy to buy up all the newly-issued bitcoins. The community believes that if more companies join the race to mop up Bitcoin, the supply will become unbalanced. So, to achieve a balance between demand and supply, there’ll be an inevitable price increase. There’s no doubt that increasing the cryptocurrency price is the next phase to expect in the community. Investors should be ecstatic about this. But the problem is that investors who don’t have millions to…

DEX Volume Rises; DeFi Top Is Nowhere Near?

Several statistics from leading data aggregators agree to one thing, a rising DEX volume means that the DeFi top is nowhere near. In the past few months, volume on decentralized exchanges had exponential growth. Yield farmers are providing liquidity on more and more pools throughout the entire industry. Some DEXs went as far as to surpass CEXs. As Defiye previously reported, Uniswap exceeded the trading volume of Coinbase Pro by a significant margin. While the space of decentralized finance had no luck in 2019, it finally gained tremendous value in 2020. DEXs are more popular than ever and almost everyone in crypto is farming at least one pool. With amazing returns that provide users with more equity than with mining, investors continue to capitalize. Moreover, the industry gained many newcomers who are now leading protocols after only several months of existence. Yearn.Finance, developed by Andre Cronje, arrived on the DeFi scene with practically no funding. The project did not even have a premine. Yet, its native governance token YFI managed to even surpass Bitcoin in value. Today, Yearn.Finance is one of the leading DeFi protocols for borrowing, lending, and yield farming. We also have the case of Compound, a protocol…

Will Radix be Able to Hog the Blanket and Become the №1 Platform for DeFi?

This year the crazy development of DeFi projects is a natural phenomenon. It was facilitated by a number of important factors. Of course, the very idea of ​​decentralization, transparency and accessibility cannot leave any user indifferent. However, without the proven Ethereum platform, developers would create a favorable environment for a long time, which would repeatedly sink into failure before launch. In fact, in two years, the amount of locked money in Defi has changed from $500 million to $6.5 billion: Despite the DeFi space vertical growth, there is a great  potential for expanding and popularization the ecosystem. The main question is whether Ethereum will be able to provide the required speed, volume and comfortable rates for transactions. If we analyze the growth chart of locked funds in the DeFi projects from July 2020 and compare them with the growth chart of the transaction fee price, we see a directly proportional relationship. According to Coinmetrics during the month, the Ethereum commission actually tripled. Increased transaction costs arise in order to avoid network congestion. If this trend is not changed, DeFi will not be able to compete with “traditional finance”. Due to high commission costs and poor scaling mechanism, we are unlikely…

Abnormal price growth in the crypto market is not a new concept. However, regardless of whether the price movement is supported by fundamental factors or the laws of supply and demand in the market, investors are always divided into categories “bubble” and “to the moon”. The situation around the Chainlink coin is no exception. The coin, which over the past year has been consistently in high positions in the daily trading volumes on the stock exchange and significantly volatile, is now truly surprising. Close use of a decentralized network of oracles is widely used in DeFi to create smart contracts and functionality of applications. ‘Cryptowhale’ crypto investor and analyst said that Chainlink is a bubble that is going to burst. In point of fact, starting from 2017 even on the weekly coin chart, we can see the growth acceleration. However, if we analyze the growth waves from July 2018 to January 2019 and from April 2019 to July 2019, we can assume that this coin is corrected in the range 50-60%. Throughout the year, buyers fought a grueling battle for the yellow range. Accumulating enough liquidity, especially given the fatal sale on 9 March, buyers started a new phase of…