Large-cap cryptocurrencies have witnessed a cool-headed weekend but to everyone’s surprise, some 2017 altcoins like VeChain have made huge gains for holders.
Large-cap cryptocurrencies have witnessed a cool-headed weekend but to everyone’s surprise, some 2017 altcoins like VeChain have made huge gains for holders. As price measures stayed low after Friday as Bitcoin takes a 4% step back and Ethereum took a 10% nosedive after opening the weekly trading session at $1,885, going as low as $1,714, according to CEX.IO’s exchange rate.
Chop for Bitcoin and Ethereum
Over the weekend, Bitcoin saw resistance to the $59,800 mark and failed to break the price. On Sunday, it was then down to below $55,000, before last night it recovered somewhat.
As the picture below shows, at the $57,000 price level at press time Bitcoin sees resistance.
BITCOIN SEES RESISTANCE. IMAGE: TRADING VIEW
On the fundamental side, bitcoin saw positive growth. The German banking giant Deutsche Bank published research last week saying that the asset could become a reputable global asset class. However, the bank added that there remained concerned over illiquidity and price volatility.
A storey similar to that of Bitcoin was seen on the technical side by Ethereum, the world’s most used blockchain. The level of $1, 860 (which proves to be resistance) has not been disconnected and trades under its EMA have shown more reversal in the short run.
ETHEREUM FAILED TO BREAK $1,860. IMAGE: TRADING VIEW
EIP-1559 is still a positive overall signal for future asset growth in its forthcoming launch. Some companies have already started hosting the asset with the Hong Kong photo editing app Meitu, which leads in this regard.
VeChain sets all-time high
The weekend saw a rather forgotten 2017 altcoin rally. In the past day, over 44% of the price range have grown in VeChain, as Chinese wonders some project that aims to utilise its blockchain to improve supply chain systems and their management.
VeChain (as VET) has now set a new high all-time of $0.09, based on information from CoinGecko, a market tool. VET runs on the main net VeChain and was previously known as the VEN blockchain Ethereum.
It now has an estimation of more than $6.3 billion and a current supply of 64 billion in circulation. In the meantime, the surge has come as a result of VeChain’s continuous adoption and integration of real-world products.
22nd March, Daily report: Bitcoin bulls support altcoins, Ethereum rose 60%, Grayscale liquidates XRP, Retail Investors are back and Goldman Sachs to enter Crypto soon.
Bitcoin bulls buy BTC’s support retest as altcoins push higher
Lower support retest was bought up by bitcoin bulls, preparing BTC for another push to $50,000. Despite increased sell pressure across the market, several altcoins showed strength. Chainlink (LINK) experienced a surge overnight and currently trades at $20.50, up 13.9% in the 24-hours. Cosmos (ATOM) has gained 21.62% and trades at $7.81.
After Ethereum, ‘next stop will be higher risk altcoins’
Raoul Pal says higher risk altcoins are likely to follow Ethereum, which rose 60% in the first two weeks of 2021. As the cryptocurrency market is showing signs of bullish continuation on Jan. 15, Raoul Pal, the CEO of Real Vision Group and an avid Bitcoin (BTC) investor, is optimistic about the price of Ether (ETH). Pal also says he’s looking to add “higher risk altcoins.”
Grayscale Investments liquidates all of its XRP
Grayscale is dissolving its XRP Trust and will distribute cash to investors after liquidating all XRP held by the trust. Institutional crypto-fund manager Grayscale Investments has begun the dissolution of its XRP Trust in response to the Security and Exchange Commission’s December 2020 lawsuit alleging the XRP token is a security under U.S. law.
Retail Investors Are Back in Crypto Markets
A familiar face is back in the cryptocurrency ecosystem. Enticed by the prospect of quick profits in a rapidly appreciating asset class, retail investors are returning for a second innings to the crypto ecosystem. Unlike last time, when they exited after booking profits, retail investors might be into crypto for the long haul this time around. Bitcoin bulls region is playing a key role in the same.
Goldman Sachs to Enter Crypto Market ‘Soon’ With Custody Play
Goldman, JPMorgan and Citi are all said to be looking at crypto custody. U.S. banking powerhouse Goldman Sachs has issued a request for information (RFI) to explore digital asset custody, according to a source inside the bank. This initiative was “part of a broad digital strategy,” citing stable coins in relation to recent missives from the U.S. Office of the Comptroller of the Currency (OCC).
BTC should be coming back down to the 38-40k region now before any more upside movement. ETH is also following BTC and rejected the 1900$ region, aligning with the BTC analysis.
BTC Analysis and Prediction.
BTC should be coming back down to the 38-40k region now before any more upside movement. ETH is also following BTC and rejected the 1900$ region, aligning with the BTC analysis ETH will also come down to 1350$ before any upside movement.
ETH is also following BTC and approaching its target which is located at around 1800$, if that region holds a drop towards the 1000-1200$ will be expected as aligning with the BTC analysis.
BTC still holding the 50k region and approaching the targets which are located at around 52k region, fish up to 54k is still very possible, from there we can expect a drop towards the 37-40k region as shown in the chart.ETH is also following BTC and approaching its target which is located at around 1600$, if that region holds a drop towards the 1000-1200$ will be expected as aligning with the BTC analysis.
BTC as covered in the last post managed to hold the region and started its downside movement. The bias still remains the same and BTC will going to see the 30,000$ region soon.ETH is showing weakness as expected and slowing coming down to our targets which are located at around 1000$, once these levels hit we can recalculate the next movement where ETH is heading next.
Bitcoin did move a little higher from our expected peak zone which is located at around 54k and breached towards the 58k region, but the overall downside regions still remain the same, we expect the push down towards the 30,000$ is overdue to be retested. ETH just retested the upper zone which is located at around 2000$, aligning with the BTC analysis we are also expecting ETH to start dropping towards the 1000$ region soon.
Chainlink is down 30%, but the on-chain and derivatives indicators show that investors have an increasing interest. Chainlink Price Metrics had a pretty rough month, falling by 45% after an all-time high of $37 on 20 Feb.
Although the recent losses might look surprising in comparison with the gains of other altcoins, in the last nine months, LINK has still managed to reach 640%. Therefore, the failure to maintain above 32 dollars should not be construed as a change of trend.
Chainlink Price Metrics
Kindly read below the key chainlink price metrics to check if its gathering strength or not:
Chainlink with Defi boom
Chainlink price at Binance, USDT. Source: TradingView
This project was proactive when the network fees of Ethereum were higher and adapted quickly to “off-chain reporting,” which replaced the aggregation of in-chain data with an off-chain consensus round. “
The aggregates are then transmitted to the blockchain, where a clever contract checks that a quorum of nodes agree on this version of data, as Cointelegraph reported previously.
Even with strong Defi growth and healthy online indicators, LINK’s price struggles to recover the 30 dollars aid. On-line indicators such as daily active addresses and transactions continue to show strength, together with open interest in futures contracts.
The transfer value is a leading on-chain user activity indicator that includes all moved corners every day. CoinMetrics analysis provides precise data by adapting these figures so that mixers and transactions between the same entities are excluded.
There were about $600 million in daily adjusted transfers, 235% of which were earned since the beginning of 2021. The current level is twice as large as Litecoin (LTC), a crypto-monetary with 7% market capitalization, but as second-layer scaling solutions evolve, the main case of the project has fallen.
Daily active addresses are yet another vital on-chain metric, although they are easily inflated at relatively low transfer costs. Given that Chainlink is running on the Ethereum network, that cannot certainly be the case.
Chainlink daily active addresses 7-day average. Source: CoinMetrics
As mentioned above, the daily active addresses of Chainlink have been above 10,000, despite the recent decrease. One should contribute to the rising network charges for Ethereum that could explain the lack of new highs. However, the 14% gain in the indicator in 2021 can be considered positive.
Futures contracts demand held strong
Had the top traders abandoned or lost interest in Chainlink, the open-interest futures contracts would have been affected. Although this measure does not necessarily dictate bullishness, the interest of investors remains a healthy amount of derivatives activity.
Chainlink futures open interest. Source: Coinalyze.net
The data above show no evidence that the open interest in futures contracts has been reduced. The sharp fall on February 21 and February 22 reflects the 41% price crash. Meanwhile, LINK regained the $26 support level less than a week later, and the open interest in its future continued to grow.
Investors may start speculating that an ‘Altcoin’ season is close if the present bullish market conditions persist. Chainlink price metrics currently look well-positioned to benefit from the Defi peak.
Bitcoin wallet firm Exodus earlier this year sold $75 million in common stock in the company, purchasable only through its wallet. The sale was notable for the company’s decision to only accept Bitcoin……….. Read Full Coverage
The IAMAI’s Blockchain and Crypto Assets Council would establish a formal board of lawyers, technological experts, and fintech compliance experts to assure self-regulation. Read Full Coverage….
Coinbase stated Tuesday that it has formally listed dogecoin on Coinbase Pro, a huge milestone that exposes the “joke” cryptocurrency to one of the world’s top bitcoin and crypto exchanges, after teasing it earlier this month. In a blog post, Coinbase stated that it will “immediately” begin accepting inbound dogecoin transfers to Coinbase Pro in … Continue reading “Dogecoin Price might Explode Soon as Joke Crypto gets Listed on Coinbase Pro”
BuyUcoin is happy to announce its latest achievement in the Crypto Affiliate Program “Earn crypto at No-Cost”, as we disperse $2000 worth of Bitcoin, $850 of Ethereum, and 94,000 INR in February to our affiliates.
As per BuyUcoin Affiliate records a surge in February was seen with the offer of free bitcoin on signup, the analytics is as follows:
1. Surge in Affiliate Programs signup went up by 1058.3%, (calculated from form submission)
2. 1,524,232 total page views due to referral links (GA)
3. 789,864 unique page views due to referral links (GA)
4. 41,591.12% link click gains in comparison with January from Knowlys referral link.
5. Having Coupon Channels at the top, then Social and Video/Vlog Channels of referral click sources
Seeing this analysis we are hopeful the Work-from-Home audience to participate and have a monthly income through this booming industry. The numbers tell us straight that amount to be spent and earned is a massive difference and profitable.
Congratulate the Top 3 Affiliates:
1. Knowlys (Total of $1327.4 worth Crypto and INR)
2. Rinkesh Jha (Total of $1081.9 worth Crypto and INR)
3. Vinod Gupta (Total of $416.09 worth Crypto and INR)
They also shared their best practices for us to share with you guys,
Knowlys said using coupon sites alone got him, 500 users, helping him to earn 40% Commission and then 50% Commission after becoming Pro-Affiliate.
For Rinkesh Jha what worked best was Telegram Groups and got him more than 400 Users.
Vinod Gupta wasn’t available to connect but as per analytics, we got Twitter and His personal Blog.
How to Earn Crypto?
Just visit BuyUcoin Crypto Affiliate Page and Register yourself. Wait for the Affiliate Welcome email and start sharing the affiliate link for which1 al the tutorials will be sent as well. You can also BuyUcoin Affiliate Graphics and Videos to increase your sharing platforms.
Bitcoin Is 3rd Largest World Currency, Ethereum Supply Crunch Will Fuel Rise Above $10,000, Cardano near all-time highs, Litecoin (LTC) ‘daily’ addresses have grown 6x and Balancer (BAL) hits an all-time high
BTT price Jumps by 10X
In the last 24 hours, the BTT price increased by 75% whereas it has increased by 1000% from the last month. The BitTorrent, BTT price did not move much till February and since it had consolidated, rocketed from $0.000542 to $0.00164 in 24 hours. It also hit its ATH subsequently in the next 24 hours. Since then it has been on a roller coaster ride between strong support levels of $0.0011 and resistance levels just over $0.00197.
Ethereum Supply Crunch Will Fuel Rise Above $10,000
Crypto analyst and trader Lark Davis says he expects Ethereum to appreciate by at least 400%. Davis adds that Ethereum will also benefit from the growing adoption of decentralized finance (Defi) which is the ‘biggest thing happening in cryptocurrencies’.
A fresh wave of interest pushes Cardano near all-time highs
Litecoin (LTC) ‘daily’ addresses have grown 6x since 2020
The number of active addresses on Litecoin, the world’s ninth-largest cryptocurrency by market cap, has grown by over six-fold in the past year, data from on-chain analytics service Glassnode shows. “New Litecoin addresses added daily are now broaching 100,000. Compared to 12 months ago, this is a 5x increase”. Litecoin is on its way to being a part of World Currency.
Balancer (BAL) hits an all-time high as Defi projects to trial new solutions
Protocol integrations, gas fee reimbursements and a bump in Defi activity back Balancer’s rally to a new all-time high. A break from the spotlight has allowed some of the more popular Defi projects like Balancer to regroup and plan out the next steps for their protocols as they work toward creating a more interoperable, user-friendly Defi ecosystem.
.png "BTC analysis")
.png "earn crypto")
