Corporate Capitulation: Is Ripple’s Buyback A Sign Of XRP Struggles?

XRP continues to be one of the most disappointing and dormant altcoins in the cryptocurrency market, three years running. The recent…

XRP continues to be one of the most disappointing and dormant altcoins in the cryptocurrency market, three years running. The recent Bitcoin rally has caused the altcoin to fall to new lows on the XRPBTC pair, which analysts claimed could cause its army of supporters to “admit defeat.”

Instead, Ripple themselves have decided to buy back XRP at a critical support level against Bitcoin. Is this a sign of the parent corporation essentially capitulating itself, injecting capital so that crypto investors themselves don’t finally wave the white flag?

Ripple Introduces XRP Buy Back Program To Support “Healthy Markets”

All throughout the bear market, Ripple executives added salt to the wound of pained XRP investors, by selling down each rally. Even former Ripple executives have a sizable supply they regularly dump at investor’s expense.

It became so frequent, it started to tick off the community and the company’s leadership had to reel it in. Now the trend has reversed fully, and Ripple is buying back XRP even when they already own the lion’s share of the total supply.

Ripple revealed in a new report that it has purchased some $46 million worth of XRP tokens in the third quarter of 2020. The company claims that it was done to support “healthy markets” and that the buybacks could continue to support the brand’s new Line of Credit initiative.

But when the purchase was announced in correlation to the XRPBTC price chart, can’t just be a simple coincidence.

Ripple suspiciously begins buying XRP back at support against Bitcoin | Source: XRPBTC on TradingView.com

Parent Company Picks Pivotal Moment On XRPBTC Trading Pair For Reveal

As the chart above reveals, Ripple’s buyback in Q3 perhaps lifted XRP against Bitcoin slightly. When the tides turned back in favor of Bitcoin while the cryptocurrency charged to $16,000 this month, XRP only collapsed further to new bear market lows.

Interestingly, Ripple has chosen to reveal its buyback program the moment the XRPBTC price chart reaches a critical support level.

This area happens to be a do or die zone for XRP against Bitcoin, and if it can’t hold, could suffer a further decline where the “XRP army” finally “admits defeat.”

Ripple’s giving in and buying back XRP tokens could be a last ditched effort to save face with crypto investors before Bitcoin’s rally cannibalizes whatever capital is left.

If it works, however, it could kick off an extended uptrend in XRP finally, and reverse the negative sentiment associated with Ripple done during the bear market.

Featured image from Deposit Photos, Charts from TradingView.com

Yearn.finance (YFI) Outperforms DeFi Sector as Powerful Uptrend Persists

Yearn.finance’s YFI has been caught within the throes of an intense uptrend throughout the past few days, with its recent lows…

Yearn.finance’s YFI has been caught within the throes of an intense uptrend throughout the past few days, with its recent lows of $7,500 looking more and more like a long-term bottom as money keeps flowing into the altcoin market.

In particular, DeFi tokens have seen immense strength throughout the past few days, with the blue-chip tokens all rallying in tandem.

Bitcoin and Ethereum have been consolidating concurrently with this explosion in the DeFi sector, which signals that investors may largely be rotating capital away from the larger digital assets and into higher beta plays.

This trend is confirmed by the fact that the rallies seen by these tokens as of late have come about in the absence of any fundamental changes. yVault yields remain rather low, and the income being produced by the protocol isn’t too high.

That being said, yVault yields may start rising as trading volume shifts once again away from centralized exchanges and towards Uniswap.

It is important to note that of all the “blue-chip” DeFi projects, Yearn.finance is currently the best performing over the past few days and weeks.

Yearn.finance’s YFI Rallies Towards Recent Highs as DeFi Market Rebounds

At the time of writing, Yearn.finance’s YFI token is trading up over 15% at its current price of $17,400. This is a massive rise from its one-week lows of $7,500 set just a few days ago.

The crypto had previously seen immense weakness that came about due to heavy sell-side pressure and stacked short positions on margin trading platforms.

The breakout rally that led it from $7,500 to highs of $18,000 in a matter of hours liquidated most of these short positions and has provided it with a good base to grow upon.

YFI Leads Aggregated DeFi Market Higher

Yearn.finance’s YFI is widely viewed as a benchmark for the entire DeFi space. As such, its recent uptrend has revitalized the entire sector.

Currently, out of all the top DeFi tokens, YFI is by far the best performing. It is up well over 100% from its recent lows and is showing few signs of slowing down anytime soon.

One analyst spoke about its performance in a recent tweet, saying:

“Friendly reminder all bluechips are not created equal. My pocket rockets continue to be YFI and AAVE for the foreseeable future, coincidentally also the top performers of this cycle so far.”

Image Courtesy of Hsaka. Source: TradingView.

If Yearn.finance’s YFI can break above $20,000 next, this could spark a second wave of DeFi mania that sends many tokens rocketing higher.

Featured image from Unsplash.
Charts from TradingView.

Bitcoin Experts Claim Post-Halving Performance Is More Bullish Than Pre-2017

Bitcoin price is gaining in momentum, tracking along well with the many scarcity-based valuations models that exist. These theories all believe…

Bitcoin price is gaining in momentum, tracking along well with the many scarcity-based valuations models that exist. These theories all believe that the cryptocurrency’s block reward halving kicks off a markup phase of epic proportions.

Currently, there are only two previous samples to go by, each where the asset explodes in ROI post-halving. At present, Bitcoin price action is outperforming even the early bull market foundation that resulted in the 2017 crypto bubble. Could this mean that the cryptocurrency is even more bullish during this cycle? Experts believe this is so, and it could lead to prices of $288,000 before the end of 2021 if the trajectory stays on target.

Experts Average Past Cycles, Conclude Bitcoin Price Will Reach $288,000 By End Of 2021

Early 2020 turned bearish due to the newness of the pandemic and the fear and panic that resulted. Bitcoin fell back to retest its bear market bottom, which held setting a higher low.

This was just one of two steps in confirming that the crypto asset’s bull market is on, with the second confirmation arriving this month with a higher high over last year’s peak.

The sudden and sharp increase over the last few weeks has reignited talk of all-time highs and as the year’s end approaches, where the cryptocurrency will be by the time another year has passed.

Crypto experts project a price of $288,000 per BTC by the end of 2021 | Source: BLX on TradingView.com

Top crypto analysts have been comparing past cycles and have come up with an average expectation of $288,000 per BTC by the end of 2021.

The average was found by taking each previous cycle’s post-halving performance and superimposing the price action over the current market since halving.

A Closer Look At How And Why The Cryptocurrency Is Performing Better This Cycle

In a zoomed-in version of the chart above, pictured below, Bitcoin price action is more bullish currently than the last cycle, which took the leading cryptocurrency by market cap from $1,000 to $20,000.

The first-ever post-halving bull cycle was the most bullish yet, where the crypto asset ran from just $10 to over $1,200.

Bitcoin is currently outperforming the last market cycle post-halving | Source: BLX on TradingView.com

This time around, $10,000 was the key level to break, and now that it’s been beaten, Bitcoin is back to its formerly bullish and volatile self, ready to rise again to the next peak.

And while analysts do use a logical average to find the next peak, they fail to consider the law of diminishing returns, which could result in an ROI this cycle that’s lesser than the last.

However, with Bitcoin more bullish now than it was in late 2016 before the historical bull market, anything is possible – even a much higher than projected peak.

Featured image from Deposit Photos, Charts from TradingView.com

Chainlink Could Soon Rocket Towards $16.50 as Bulls Stay in Control

Chainlink’s price action as of late has been quite positive, with bulls shattering the resistance that previously sat around $12.00 and…

Chainlink’s price action as of late has been quite positive, with bulls shattering the resistance that previously sat around $12.00 and gaining momentum as the aggregated DeFi sector rebounds.

The cryptocurrency has held up quite well today despite some turbulence seen by Bitcoin and Ethereum.

The latest selloff seen by the benchmark cryptocurrency has come about due to positive news regarding the efficacy of a vaccine from Pfizer.

This news struck a blow to safe-haven assets, as it suggests that the global economic turmoil could soon come to an end.

Altcoins haven’t been hit too hard by this news, signaling that investors are growing more comfortable adding on risk by gaining exposure to high beta assets.

Chainlink is still on track to test its next key resistance at $13.00, and one analyst is noting that it could soon see significantly further momentum.

He is specifically watching for a move up towards $16.50, noting that it is still trading well-within a large triangle formation, and this marks the upper boundary of that pattern. A break above this level could lead to significantly further gains.

Chainlink Stable Below $13.00 as Bulls Guard Against Downside

At the time of writing, Chainlink is trading down just over 1% at its current price of $12.60. This is around where it has been trading throughout the past couple of days.

Last week, in tandem with the massive rallies seen by Yearn.finance’s YFI and other blue-chip DeFi tokens, LINK saw a sudden upswing that sent its price towards $14.00. The rejection here was intense and kicked off the ongoing consolidation phase.

Where it trends next will depend largely on whether or not bulls can surmount the selling pressure that exists at $13.00.

Analyst: LINK Likely to Surge Towards $16.50 Next

One trader recently offered an extremely bullish outlook on the cryptocurrency’s near-term price action, noting that it has yet to post any significant breakout and could soon rally towards $16.50 before finding any resistance.

A break above this level would cause it to break out of a bullish triangle formation it is currently caught within and lead to significantly further upside.

“Friendly reminder: LINK is another one that hasn’t even broken out yet and has a very strong Daily & Weekly chart. I’ll begin to take some profits on longs at $16.5. When LINK gets going…. it goes.”

Image Courtesy of UB. Source: LINKUSD on TradingView.

The coming days should provide some serious insights into where the cryptocurrency will trend in the next few weeks.

Featured image from Unsplash.
Charts from TradingView.

A Whale Just Moved $14m Worth of Yearn.finance (YFI) to an Exchange

Yearn.finance’s YFI token is surprisingly resilient today despite the turbulence throughout the aggregated crypto market. While Bitcoin is plunging lower, most…

Yearn.finance’s YFI token is surprisingly resilient today despite the turbulence throughout the aggregated crypto market. While Bitcoin is plunging lower, most of the DeFi sector is actually up today.

The break of this sector’s recent multi-month downtrend came about following a series of massive short squeezes seen by the blue-chip DeFi assets like YFI, SNX, and others.

Just a few days ago, YFI rallied from lows of $7,500 to $18,000 in a mere matter of hours, marking one of the largest surges seen by an asset of its size over such a short period of time.

After reaching these highs, it began encountering some intense selling pressure that slowed its growth and led it to see a sharp decline down to lows of $12,000. From this point, it rebounded and has been trading sideways ever since.

One bear-favoring event that may signal some downside is imminent for the token is the transference of 2,546.23 YFI tokens to a centralized exchange, marking the 4th largest transaction of all-time.

These tokens may soon be offloaded, placing immense sell-side pressure on the cryptocurrency.

Yearn.finance’s YFI Stabilizes Despite Bitcoin Downturn

Over the past couple of hours, Bitcoin’s weakness hasn’t done much to influence the DeFi sector’s price action.

Yearn.finance’s token is trading down roughly 2% at its current price of $14,780. This is around the price at which it has been trading throughout the past few days.

It is still down from its recent highs of $18,000 set at the peak of the short squeeze-induced rally, but it is still up nearly 100% from its weekly lows.

If BTC continues plunging lower, it could create some headwinds that hamper higher-risk cryptocurrencies like YFI.

YFI Just Saw Its 4th Largest Transaction Ever – And It’s Bad News for Bulls

According to one analytics platform, Yearn.finance’s YFI token just saw its 4th largest transaction ever, with someone sending over 2,500 tokens to an exchange.

This could indicate that a massive influx of sell-side pressure is imminent.

“We’ve just tracked Yearn.finance’s 4th largest transaction of all-time, and highest sum since late August. 2,546.23 YFI tokens were transferred as a centralized exchange deposit, worth a total of $13.8M from a whale address to new exchange address.”

Image Courtesy of Santiment. Source: YFIUSD on TradingView.

Just because these tokens are being moved to an exchange doesn’t mean that they’ll be sold, but it could be a potential event that catalyzes downwards momentum.

Featured image from Unsplash.
Charts from TradingView.

भारत में Kyber Network (KNC) क्रिप्टोकरेंसी कैसे खरीदें? Beginners के लिए एक गाइड

विषय – सूची

प्रस्तावना
Kyber Network Crystal क्या है?
KNC की उत्पत्ति
KNC के उपयोग
KNR की कीमत
भारत में KNR कैसे खरीदें?

प्रस्तावना

Kyber Network Ethereum प्रोटोकॉल पर आधारित परियोजना है जो क्रिप्टोकरेंसी के आदान-प्रदान को पूरी तरह से विकेंद्रीकृत करने और ब्लॉकचेन पर सब कुछ रखकर भरोसेमंद रूप से विनिमय करने का प्रयास करता है।

Kyber Network के माध्यम से, उपयोगकर्ता किसी भी क्रिप्टोक्यूरेंसी को तुरंत परिवर्तित या एक्सचेंज करने में सक्षम होंगे। एक एक्सचेंज होने के अलावा, Kyber Network को क्रिप्टोकरेंसी के लिए ट्रांसफर मैकेनिज्म के रूप में भी बनाया जा रहा है। Kyber Network की हस्तांतरण क्षमताओं के बारे में महान बात, और कुछ जो इसे मौजूदा एक्सचेंजों से अलग करता है, यह है कि भेजे गए टोकन प्राप्त टोकन से मेल खाने की आवश्यकता नहीं है।

Kyber Network के साथ, उपयोगकर्ता किसी भी टोकन को भेजने में सक्षम होंगे और इसे रिसीवर के वॉलेट तक पहुंचने से पहले इसे किसी अन्य टोकन में बदल दिया जाएगा। इसमें व्यवसायों के लिए भी बहुत संभावनाएं हैं, क्योंकि इसका मतलब है कि एक व्यापारी किसी भी क्रिप्टोक्यूरेंसी को स्वीकार कर सकता है और किबर नेटवर्क का उपयोग करके उन्हें केवल अपनी पसंद की मुद्रा प्राप्त होगी।

Kyber Network Crystal क्या है?

Kyber Network Crystal (KNC) Kyber Network की रीढ़ है। यह तरलता प्रदाताओं और उन लोगों को जोड़ने के लिए काम करता है जिन्हें तरलता की आवश्यकता होती है और तीन अलग-अलग उद्देश्यों के लिए कार्य करते हैं। इनमें से पहला लेन-देन शुल्क एकत्र करना है, और एकत्र किए गए प्रत्येक शुल्क का एक हिस्सा जला दिया जाता है, जो KNC अपस्फीति रखता है।

नेटवर्क में उनके संचालन के लिए भुगतान करने वाले KNC को खरीदने के लिए KNC को तीसरे पक्ष के टोकन का उपयोग करना होगा क्योंकि KNC, Kyber तरलता में आरक्षित प्रणाली के सुचारू संचालन को सुनिश्चित करता है।

अंत में, KNC टोकन Kyber Network और एक्सचेंज, वॉलेट और dApps के बीच संबंध है जो तरलता नेटवर्क का लाभ उठाता है। यह एक पुण्य प्रणाली है क्योंकि संस्थाओं को और अधिक उपयोगकर्ताओं को कियबर नेटवर्क को निर्देशित करने के लिए रेफरल शुल्क के साथ पुरस्कृत किया जाता है, जो कि Kyber को अपनाने और नेटवर्क का उपयोग करने वाली संस्थाओं के लिए मदद करता है।

और निश्चित रूप से जल्द ही KNC के लिए एक चौथा और पांचवां उपयोग होगा, जो निष्क्रिय आय उत्पन्न करने के लिए उपयोग किए जाने वाले एक चौंकाने वाले टोकन के साथ-साथ एक शासन टोकन नेटवर्क के प्रमुख मापदंडों पर वोट करने के लिए उपयोग किया जाएगा। Kyber Network Crystal (KNC) को सितंबर 2017 ICO में $ 1 के मूल्य पर जारी किया गया था। ICO के लिए 226,000,000 केएनसी खनन किया गया, जिसमें 61% जनता को बेचा गया। शेष 39% को कंपनी और संस्थापकों / सलाहकारों द्वारा 1 वर्ष की लॉकअप अवधि और 2 वर्ष की अवधि के साथ 50/50 नियंत्रित किया जाता है।

वर्तमान में, बस 180 मिलियन से अधिक सिक्के प्रचलन में हैं, और मई 2019 में कंपनी द्वारा 1 मिलियन KNC टोकन को burn करने के बाद कुल आपूर्ति 210.94 मिलियन हो गई है और उसके तीन महीने बाद ही इसका दूसरा मिलियन KNC टोकन है। इसका मतलब यह है कि पहले KNC को burn करने में जहां 15 महीने लगे, वहीं दूसरी मिलियन KNC को burn करने में सिर्फ 10 हफ्ते का समय लगा।

यह दर्शाता है कि हाल ही में Kyber का उपयोग कितनी तेजी से बढ़ रहा है, जुलाई 2019 में क्यूब नेटवर्क पर यूएसडी ट्रेडिंग वॉल्यूम लगभग 60 मिलियन डॉलर तक पहुंच गया है। इस मात्रा में वृद्धि जारी रही है, और 13 मार्च, 2020 को नेटवर्क ने 24 घंटे की अवधि में $ 33.7 मिलियन की अपनी उच्चतम दैनिक गतिविधि का अनुभव किया।

KNC की उत्पत्ति

Kyber Network की स्थापना Loi Luu, Victor Tran और Yaron Velner ने 2017 में की थी और इसका मुख्यालय सिंगापुर में है। उस समय, Kber टीम ने 200,000 ETH (लगभग $ 50 मिलियन) अपने KNC क्रिप्टोक्यूरेंसी के प्रारंभिक सिक्के की पेशकश में उठाया। बिक्री के दौरान, कुल 226 मिलियन KNC की आपूर्ति की गई, जिनमें से अधिकांश खरीदारों और निवेशकों को बेची गईं।

KNC के उपयोग

KNC cryptocurrency Kyber Network को बनाए रखने और संचालित करने में एक महत्वपूर्ण भूमिका निभाता है।
2. KNC को रोककर, उपयोगकर्ता नेटवर्क उन्नयन और नीतियों (शुल्क मॉडल और दरों, उदाहरण के रूप में) पर वोट करने की क्षमता प्राप्त करते हैं, प्रत्येक वोट KNC की मात्रा के अनुपात में आनुपातिक होता है।
3. उपयोगकर्ता अपने टोकन अन्य सत्यापनकर्ताओं को भी सौंप सकते हैं, ब्लॉक इनाम के एक हिस्से को अर्जित करते हुए उन्हें वोट आवंटित कर सकते हैं।
4. KNC की हिस्सेदारी रखने वाले उपयोगकर्ताओं को उनके योगदान के लिए ETH के रूप में पुरस्कार मिलेगा।
5. जो निवेशक क्रिप्टो परिसंपत्तियों तक पहुंच और विस्तार करने में विकेंद्रीकृत एक्सचेंजों की भविष्य की भूमिका में विश्वास करते हैं, वे भी KNC खरीद सकते हैं और इसे अपने पोर्टफोलियो में जोड़ सकते हैं।

KNR की कीमत

वर्तमान विनिमय दर के अनुसार, 1 केएनसी की कीमत 60.65 INR के बराबर है।

भारत में KNR कैसे खरीदें?

KNC टोकन खरीदने के इच्छुक लोग कई एक्सचेंजों में ऐसा कर सकते हैं। पूरी सूची के बीच शायद आपका सबसे अच्छा दांव BuyUcoin है, जो सबसे सुरक्षित भारतीय एक्सचेंजों में से एक साबित हुआ है। साइट पर उपलब्ध 101 भुगतान विधियों में से किसी का भी उपयोग करते हुए, उपयोगकर्ता भारत में नवीनतम कीमत और 0% ट्रेडिंग शुल्क पर KNR टोकन खरीद सकते हैं।

BuyUcoin निम्नलिखित विशेषताओं के साथ उपयोगकर्ताओं के लिए एक यादगार व्यापारिक अनुभव सुनिश्चित करता है-

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अपने बैंक खाते की जानकारी जोड़ें
अपना KYC विवरण सत्यापित करें
ओटीसी डेस्क विकल्प पर जाएं और “डायरेक्ट खरीदें” पर क्लिक करें
अब आप KNC टोकन का व्यापार कर सकते हैं |