Yearn.finance’s YFI token saw a sharp capitulatory decline overnight that caused it to post some massive losses. This decline briefly sent…
Yearn.finance’s YFI token saw a sharp capitulatory decline overnight that caused it to post some massive losses. This decline briefly sent it below $10,000, which is a level that had not been broken below since weeks before its parabolic move to $45,000 started.
This decline has come about amidst a capitulatory bout of panic selling amongst altcoins, as many are trading down 20% or more today while Bitcoin continues consolidating.
Part of this weakness may stem from Ethereum’s intense underperformance, as it is now trading below $380 while BTC pushes past $13,300.
YFI has been able to get some relief, however, as the break below $10,000 was rapidly absorbed and followed by a sharp upswing that sent it to highs of $11,500.
It now appears to be consolidating as its bulls look to build a strong base of support around its recent lows.
One analyst is noting that this range reclaim is bullish and could indicate that a push towards $13,000 or $14,000 is imminent in the near-term.
This would be a serious rebound that helps negate some of the technical weaknesses resulting from this latest decline.
Yearn.finance Price Craters Below $10,000 During Brief Overnight Selloff
At the time of writing, Yearn.finance’s YFI token is trading up just over 2% at its current price of $11,000. This is around where it has been trading all morning following its brief decline to lows of $9,750.
The selling pressure it faced last night was intense and likely came about due to a mixture of panic selling and capitulation.
Where it trends next will undoubtedly depend largely on whether or not bulls can guard against another decline.
Analyst: YFI Could Rally Towards $14,000 Following Bullish Range Reclaim
While sharing his thoughts on Yearn.finance’s price action, one analyst explained that he is watching for YFI to rally up towards $13,000 or $14,000 following a bullish range reclaim.
He pointed to this technical development in a recent tweet, noting that a failure to print a sharp upwards movement would be grave.
“YFI: Range reclaim – might get a long back upto 13-14k. Blue arrow trigger, otherwise doesn’t look good – price capped nicely within the down trending channel,” he said.
Yearn.finance’s YFI has become a benchmark for the DeFi sector, so a strong rebound could create shockwaves across the market that allow other altcoins to rally in tandem.
Featured image from Unsplash.
Charts from TradingView.
Ethereum spent most of 2020 outperforming Bitcoin by a large margin, thanks to the burning hot DeFi trend and the related…
Ethereum spent most of 2020 outperforming Bitcoin by a large margin, thanks to the burning hot DeFi trend and the related tokens’ reliance on the second-ranked crypto asset.
But since things have reversed and Bitcoin has gone on its own individual run, on the ETHBTC trading pair, Ethereum has reached a point of “do or die” according to one crypto analyst. Here are the key levels and factors to look for in the weeks ahead to see if the top altcoin was able to withstand the force of a BTC bull run, or if it gets chewed up and spit out as Bitcoin has done so recently.
Ethereum Approaches Do Or Die Level Against On BTC Trading Pair
A surge of buying after a key breakout combined with sudden PayPal support and a massive increase of corporations adding BTC to their treasure reserves.
With so little BTC supply to go around, the buying has resulted in an explosive move. And with Bitcoin potentially heading off onto a new bull run, crypto investors have been dumping their altcoins and FOMO buying the leading cryptocurrency by market cap.
It has even put a major damper on Ethereum, which spent the rest of the year outperforming Bitcoin by a mile. But with DeFi floundering itself, there’s nothing left to prop up the top altcoin any longer. And its left Ethereum on the ropes against Bitcoin, and at a “do or die” level on the ETHBTC pair.
How A Bitcoin Bull Run Could Leave Altcoins And DeFi Bleeding Out
According to a crypto analyst and their interpretation of the ETHBTC chart, the top altcoin is facing a “do or die” level against Bitcoin.
If Ethereum falls further, the altcoin could dive on the USD pair, while Bitcoin keeps on racing toward all-time highs. Other crypto analysts have called for such a scenario to play out any day, and the theory is presently being proven correct.
BTC dominance, a crucial metric weighing Bitcoin against the rest of the crypto market cap, also points to prolonged altcoin weakness against the most dominant crypto.
Unfortunately for Ethereum, most takes suggest that the altcoin will choose “die” against Bitcoin for the rest of the year, but in early 2021, the altcoin season that follows will be something not to be missed.
Featured image from Deposit Photos, Chart from TradingView.com
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Chainlink is easily the best performing cryptocurrency for the last three years, and this year managed to outperform Bitcoin by over…
Chainlink is easily the best performing cryptocurrency for the last three years, and this year managed to outperform Bitcoin by over 500%. But the tides have finally turned on the two opposing crypto coins, and it could signal an extended downtrend against the first-ever cryptocurrency for the foreseeable future.
Here are three compelling reasons and charts supporting this theory that investors in the decentralized oracle technology don’t want to hear.
Weekly Momentum Shift Made Clear In Chainlink By Two Reliable Technical Indicators
Chainlink potentially topped out for the time being in both its USD pair and against BTC. With Bitcoin now blasting off and about ready to embark on a new bull run, altcoins, and even DeFi rockstars like LINK are breaking under the pressure.
Although Chainlink’s run-up has been one for the history books, rising from under $1 to $20 in a single year low to high, it could now be over for the foreseeable future – at least against Bitcoin.
A weekly close below the middle-BB moving average is a negative sign | Source: LINKBTC on TradingView.com
The first signal showing that a Chainlink downtrend is only just starting is a weekly close and failed retest of the middle Bollinger Bands moving average.
Next, is the Average Directional Index, which comes equipped with two Directional Movement Index lines. When these lines crossover, it signals a trend change for bullish to bearish or vice versa. As the ADX itself falls to indicate the prevailing trend has ended, and bears can be seen taking over from bulls with a crossover of the DMI.
LINKBTC Downfall Projected By Data, Ethereum Provides Blueprint For 80% Breakdown
Perhaps the most damning evidence that things are about to get a lot worse for the LINKBTC trading pair, is due to the altcoin losing its parabolic curve.
Comparing the previous once hottest altcoin, Ethereum, which peaked against Bitcoin ahead of the crypto bubble top, the price action in LINKBTC closely matches.
Chainlink rally closely mimics Ethereum parabola and subsequent breakdown | Source: ETHBTC on TradingView.com
When assets lose their parabolic advance, data shows that they can plummet by as much as 80% or more. This data is how Peter Brandt called Bitcoin’s bottom of $3,200 a year in advance.
It also exactly matches with Ethereum’s decline against BTC on the ETHBTC pair, which again resembles about where Chainlink is before Ethereum’s fall began to accelerate.
Ethereum’s never been able to catch up to Bitcoin fully since.
Featured image from Deposit Photos, Charts from TradingView.com
Bitcoin is a financial revolution in the making, for numerous reasons. But one of the attributes that give it the most…
Bitcoin is a financial revolution in the making, for numerous reasons. But one of the attributes that give it the most value, is its digital, hard-coded scarcity. With just a 21 million BTC supply to ever exist, it is the hardest form of money on the planet.
However, according to one expert in the field, Willy Woo, the supply is actually a lot closer to 17 million. Because of this, the amount of BTC spread across the rapidly growing population evenly is minuscule, highlighting just how rare the cryptocurrency really is.
Honey, I Shrunk The BTC Supply: Why There’s Really Only 17 Million Left
Bitcoin is often compared to gold, earning it the “digital gold” moniker. Both are hard assets with extremely limited supplies that help tip the scales of supply and demand favorably toward demand.
This relative rarity, especially during a time when dollars are being printed, ballooning the fiat balance sheet by 20% this year alone, has caused the two hard assets to shine post-pandemic.
With uncertainty in the air, and a dollar on the brink of demise, investors are increasingly turning to gold and Bitcoin. Both assets beat out the stock market’s returns this year, but even Bitcoin has outperformed gold by more than three times, due to just how scarce the supply of the cryptocurrency is.
The blockchain network was coded to over time unlock only 21 million BTC – nothing more. But Bitcoin expert Willy Woo warns, there are actually far less.
Total supply of Bitcoin will not be 21m, it’ll be around 17m as many coins died in the fight for being acknowledged as something valuable in the early days.
Woo says that as many as 4 million BTC were lost in the “fight for being acknowledged as something valuable in the early days.”
What Woo means by this, is that the earliest holders of Bitcoin had no idea what it would ultimately become in terms of value. Would you have taken perfect care of something that was virtually worthless? The answer is no, and potentially millions of BTC are lost forever due to misplaced private keys, death, or by sending coins to the wrong address.
Every decimal point Bitcoin became a little more worth remembering | Source: BLX on TradingView.com
Bitcoin Whales Absorbing Supply Leaves Even Less For Small Fish
If there ever fewer BTC than expected, the asset’s rarity is even more pronounced and important to its valuation. As capital comes in, it will be spread across even fewer coins, with less coins overall ever able to be sold into the market lowering prices.
Data shows that the number of whale wallets with 1000 BTC or more has spiked to the highest levels ever, so any remaining supply is dwindling rapidly. That’s not to say that these whales won’t end up selling, but with Bitcoin’s bull market just starting, it could be a while before those hands stop holding strong.
If that is the case, and these whales and businesses continue to absorb the supply, there won’t be any left for the little fish.
According to Woo, at the 17 million figure he cites, there will only ever be enough Bitcoin for the global population to have 0.002 BTC if spread out evenly.
But as wealth distribution in the past has shown, and even a decentralized asset cannot escape, businesses and the wealthy will end up buying up the lion’s share of what’s left out there for BTC, leaving even less to go around for the always growing global population.
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Featured image from Deposit Photos, Charts from TradingView.com
क्रिप्टो स्पेस में पिछले 18 महीनों में कई नए stablecoins सामने आए हैं। उनके विकास को आंशिक रूप से एक संभावित स्थिर मुद्रा को भरने की आवश्यकता से प्रेरित किया गया है, क्योंकि पहले और सबसे अधिक उपयोग किए जाने वाले स्थिर बिटकॉइन Tether चिंताओं का सामना कर रहे हैं। Maker (MKR) टोकन MakerDAO द्वारा बनाया गया था और इसका प्राथमिक उद्देश्य MakerDAO के DAI टोकन की स्थिरता का समर्थन करना और DAI क्रेडिट सिस्टम के लिए शासन को सक्षम करना है। MakerDAO एक महत्वाकांक्षी परियोजना है जिसका उद्देश्य क्रिप्टोकरेंसी के लिए विकेंद्रीकृत भविष्य है|
यह एक टू-टोकन सिस्टम है जिसमें MKR और DAI ERC-20 टोकन दोनों शामिल हैं। दोनों ETH को एक व्यापारिक जोड़ी के रूप में उपयोग करते हैं। मेकर $ 1 पर DAI टोकन को स्थिर करने के लिए MKR टोकन और CDP स्मार्ट कॉन्ट्रैक्ट का उपयोग करता है। यह केवल अमेरिकी डॉलर के लिए soft-pegged है और अगर अमेरिकी अर्थव्यवस्था ढह जाती है तो इसे दूसरी मुद्रा में ले जाया जा सकता है। इस तरीके से, कई नए stablecoins से प्रतिस्पर्धा का सामना करने के बावजूद, क्रिप्टो समुदाय में stablecoin of choice के रूप में Tether को पछाड़ने के लिए Maker अच्छी तरह से तैनात है।
Maker की एक अंतर्दृष्टि
MKR एक ERC -20 टोकन है, जिसका निर्माण Ethereum के प्रोटोकॉल का उपयोग करके किया गया है। इसे ERC-20 वॉलेट में संग्रहीत किया जा सकता है और कई एक्सचेंजों पर व्यापार योग्य है। MKR धारक शेयरधारकों की तरह हैं, लेकिन एक संयुक्त स्टॉक कंपनी के बजाय, यह एक विकेन्द्रीकृत स्वायत्त संगठन (DAO) है।
Maker प्लेटफॉर्म के निरंतर अनुमोदन वाले मतदान प्रणाली में MKR के धारकों को मतदान के अधिकार प्राप्त होते हैं। MKR धारक CDP (संपार्श्विक ऋण स्थिति) जैसी चीजों पर मत देते हैं। भाग लेने के लिए वे पुरस्कार के रूप में एमकेआर शुल्क प्राप्त करते हैं। इन धारकों को इस तरह से मत देने के लिए प्रोत्साहित किया जाता है जो सिस्टम को लाभ पहुंचाते हैं। यदि सिस्टम अच्छी तरह से काम करता है तो MKR की कीमत बनी रहती है या बढ़ जाती है।
इसे बनाने के पीछे का उद्देश्य और मेकरडीएओ मंच वास्तव में एक स्थिर क्रिप्टोकरेंसी के उभरने के लिए था। इस तरह से उपयोगकर्ता अंतर्निहित परिसंपत्तियों में निवेश कर सकते हैं और मार्जिन पर व्यापार कर सकते हैं। निर्माता टोकन धारक एक शासन टोकन होने के कारण जोखिम-आधारित निर्णय लेने के पात्र हैं, इस प्रकार यह नेटवर्क के स्वास्थ्य और दीर्घायु को प्रभावित करता है। MKR की विशिष्टता इस तथ्य में निहित है कि यह अपने धारकों को DAI को नियंत्रित करने की प्रक्रिया में सीधे भाग लेने की अनुमति देता है। वे इस भागीदारी में संलग्न हो सकते हैं-
प्रोटोकॉल में जोड़े गए नए संपार्श्विक संपत्ति प्रकार उपयोगकर्ताओं को अधिक डीएआई टकसाल के लिए नई क्रिप्टोकरंसीज प्रस्तुत करने की अनुमति देते हैं, और मौजूदा संपार्श्विक संपत्ति प्रकारों के जोखिम मापदंडों को संशोधित करते हैं।
DAI टोकन के धारक उन्हें एक विशेष अनुबंध में लॉक करके बचत अर्जित कर सकते हैं। बचत दर उस अनुबंध की लाभप्रदता को प्रभावित करती है।
वे oracles चुन सकते हैं, अर्थात्, संस्थाएँ जिनका लक्ष्य निर्माता पारिस्थितिकी तंत्र को भरोसेमंद ऑफ-ब्लॉकचेन डेटा की आपूर्ति करना है।
बाजार पर सबसे बड़े स्थिर शेयरों में से एक के प्रबंधन में भाग लेने की क्षमता वही है जो एमकेआर टोकन की मांग को बढ़ाती है और इसके मूल्य को प्रभावित करती है।
Maker की उत्पत्ति
MakerDAO की स्थापना 2014 में, कैलिफोर्निया में, डेवलपर और उद्यमी रून क्रिस्टेंसन द्वारा की गई थी। Maker टोकन 17 दिसंबर 2017 को जारी किया गया था। इसके लिए ICO 23 जनवरी 2018 को शुरू किया गया था और यह 28 फरवरी 2018 को कुल $ 10,650,00 की बढ़ोतरी के बाद समाप्त हुआ। MakerDao प्लेटफॉर्म और MKR टोकन के निर्माण के पीछे सीटीओ एंडी मिलीनियस और राष्ट्रपति और सीओओ स्टीवन बेकर भी शामिल हैं।
MKR टोकन के लाभ
यह DAO टोकन को स्थिरता प्रदान करता है।
टोकन पारदर्शिता और, परिणामतः, लेखापरीक्षा योग्यता प्रदान करता है।
यह दुर्भावनापूर्ण कार्यों के खिलाफ कड़ी सुरक्षा भी प्रदान करता है।
MakerDAO मंच अपने ब्लॉकचेन के विकास के संबंध में पूरी तरह से पारदर्शी है क्योंकि इसमें एक ओपन-सोर्स कोड है।
INR में Maker की कीमत
CoinGecko के अनुसार, INR में 1 MKR का वर्तमान मूल्य 40,437.88 है |
एक्सचेंजों में Maker टोकन कैसे प्राप्त करें?
MKR धारक होने के नाते आपको नेटवर्क के भविष्य के लिए लिए जा रहे सभी फैसलों पर शासन देता है। इससे आप लाभ कमा सकते हैं। केवल कुछ एक्सचेंज प्लेटफॉर्म ही फिएट जोड़े के लिए क्रिप्टो / टोकन की पेशकश करते हैं और केवल सीमित मात्रा में सिक्के के लिए। उनमें से एक BuyUcoin है, जो एक भारतीय ऑनलाइन क्रिप्टोकरेंसी एक्सचेंज प्लेटफॉर्म 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 टोकन खरीद सकते हैं।
केवल BuyUcoin ही क्यों?
BuyUcoin निम्नलिखित विशेषताओं के साथ उपयोगकर्ताओं के लिए एक यादगार व्यापारिक अनुभव सुनिश्चित करता है-
तेज़ और आसान ट्रेडिंग अनुभव
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101 भुगतान विकल्प
तत्काल विनिमय और लेनदेन का तत्काल प्रसंस्करण
क्रिप्टो इंडिकेशन यह तय करने के लिए कि कब टोकन बेचना और खरीदना है।
दैनिक ऑफ़र और रेफरल |
BuyUcoin पर Maker को खरीदने के लिए, आपको दिए गए चरणों का पालन करना होगा-
