Autor Cointelegraph By Jordan Finneseth

Bitcoin bulls take aim at $45K while some analysts warn of possible correction

Bitcoin bulls take aim at $45K while some analysts warn of possible correction

Uverejnil používateľ | mar 22, 2022 |

The bullish narrative is beginning to build across the cryptocurrency ecosystem on March 22 as the price of Bitcoin (BTC) briefly spiked above $43,000 while Ether (ETH) has reclaimed support at $3,000 following a deposit of $110 million worth of ETH into Lido’s liquidity pools.Data from Cointelegraph Markets Pro and TradingView shows that the price of Bitcoin rallied 6.15% from a low of $40,884 in the early hours of Tuesday to an intraday high at $43,380 before consolidating around support at $42,300.BTC/USDT 1-day chart. Source: TradingViewHere’s what several analysts are saying about Bitcoin’s recent price action and which support and resistance levels to keep an eye on moving forward.BTC price could correct lowerA foreshadowing of Bitcoin’s move on March 22 was provided by market analyst and pseudonymous Twitter user “Rekt Captial,” who posted the following chart noting that “If Bitcoin successfully retests the green dashed diagonal as new support,” then it “will spring towards the green ~$43100 resistance ahead.”BTC/USD 1-week chart. Source: TwitterAccording to the trader, this was a notable development because it “confirmed” the end of the “multi-month series of lower highs” for Bitcoin and suggests we could soon head higher. Despite this bullish turn of events, fellow trader and pseudonymous Twitter user “Ed_NL” warned that it may still be a bit premature to open a BTC long based on price action following the pump. BTC/USD 15-minute chart. Source: Twitter“BTC forming a bearish flag after the initial drop, but this feels like a typical trap where we first take out the early shorters before going down to correct,” the analyst opined. Potential squeeze higherThe upward trend for BTC was also highlighted by crypto trader and host of The Wolf of All Streets podcast Scott Melker, who posted the following chart noting that Bitcoin is “still making higher lows, consolidating towards the key level around $45,500.”BTC/USD 1-day chart. Source: TwitterOptions trader and pseudonymous Twitter user “Joh Wick” also noted this upward drift on the BTC chart, suggesting that there is a potential squeeze in play that could lead to further price gains. BTC/USD 1-day chart. Source: TwitterWick further explained:“Remember we have squeeze shading zone that looks like it wants to breakout! Could be the technical catalyst to get us past $45,000 – $46,000 resistance.”Related: Bitcoin hovers at $43K on Wall Street open amid growing fever over Terra’s $3B BTC buy-inNeeds to hold support at $42,300A final bit of insight was provided by crypto trader and Cointelegraph contributor Michaël van de Poppe, who posted the following chart highlighting the run-up in Bitcoin, which has managed to hold on to a “crucial support.”BTC/USDT 2-hour chart. Source: Twitter“If Bitcoin can sustain those levels, it seems to me that we’re getting a period of some relief rallies across markets. Would be good,” van de Poppe explained.The overall cryptocurrency market cap now stands at $1.923 trillion and Bitcoin’s dominance rate is 42%.The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

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Launch of real-world use-case sparks 162% rise in OriginTrail's TRAC token

Launch of real-world use-case sparks 162% rise in OriginTrail's TRAC token

Uverejnil používateľ | mar 22, 2022 |

The global supply chain continues to struggle to get back on track following a tumultuous three years that have witnessed clogged shipping ports and a breakdown of the just-in-time delivery system. One blockchain project looking to help solve some of these issues while also facilitating the transition to Web3 is OriginTrail (TRAC), a logistics and supply chain management-focused blockchain protocol aiming to become the world’s first decentralized knowledge graph (DKG).Data from Cointelegraph Markets Pro and TradingView shows that the price of TRAC has increased 162% in the past week, going from a low of $0.36 on March 15 to a daily high of $0.95 on March 22 amid a 1,070% increase in trading volume over the past 24 hours. TRAC/USDT 4-hour chart. Source: TradingViewThere are three underlying reasons behind the sudden spike in TRAC’s price and trading volume: the ongoing rollout of OriginTrail v6, the launch of AidTrust and the migration to Web3. OriginTrail v6The most significant development helping to boost the outlook for TRAC is the ongoing rollout of OriginTrail v6, which is currently running on the testnet. The @origin_trail v6 testnet is growing into a beast! This week we reached a new record of 156k publishings measured in 24h, which is ~500x improvement over the highest seen number on previous DKG versions. And we are only getting started 1/4 https://t.co/2ZVXuFwSNU— Brana Rakic – OriginTrail (@BranaRakic) March 18, 2022According to the team at OriginTrail, v6 is part of the next evolution of the DKG that will help improve the performance of the network by several orders of magnitude. It will also introduce new capabilities like Universal Asset Locators and driving interoperability with legacy knowledge graphs such as the Google Knowledge Graph. Users who are interested in contributing to the community now have the opportunity to set up a v6 node to earn TRAC while also helping support the overall functioning of the OriginTrail network. Launch of AidTrustA second element bringing attention to OriginTrail has been the launch of AidTrust, a joint product released in conjunction with BSI UK to bring visibility and trust to pharmaceutical supply chains. AidTrust, a joint @TraceLabsHQ & @BSI_UK product that uses @origin_trail DKG to provide visibility & trust in pharmaceutical supply chains is currently being rolled out to 80+ treatment centers across India .Learn more about AidTrusthttps://t.co/CSeYjJG88X— OriginTrail (@origin_trail) March 17, 2022

AidTrust combines the capabilities of the DKG with BSI’s extensive supply chain experience to help ensure that donated medicine reaches the intended patients in a timely manner. Using AidTrust, NGOs and pharmaceutical manufacturers are able to monitor the movement of donated products through the supply chain, identify any potential risks and make real-time decisions based on secure data. AidTrust is currently in the process of being implemented in over 80 treatment centers in India and there are plans to roll out the platform to more than 40 additional countries worldwide. Related: Altcoin Roundup: Three blockchain protocols taking the supply chain crisis head-onMigration to Web3 and Polkadot integrationThe ongoing rise and transition to Web3 is a third factor providing some lift for TRAC as its Decentralized Knowledge Graph can help monitor, organize and verify both physical and digital assets and make them discoverable on the blockchain. As blockchain technology is slowly integrated into the underlying infrastructure of the internet, projects like OriginTrail that help with data tracking will be an important piece of the overall architecture as data is the commodity that powers the digital world. OriginTrail is also in the process of integrating with the Polkadot ecosystem through the creation of an OriginTrail parachain that will give oracle functionalities to any Polkadot parachain interested in DKG integration. The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

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Ether bulls eye resistance at $3K as the network prepares to undergo 'The Merge'

Ether bulls eye resistance at $3K as the network prepares to undergo 'The Merge'

Uverejnil používateľ | mar 21, 2022 |

A new week in the cryptocurrency market has brought more of the same sideways price action that the wider ecosystem has experienced in recent months, as Bitcoin (BTC) continues to hold support near $41,000 while some analysts warn that high inflation and rising interest rates could see the top cryptocurrency fall to $30,000. On the altcoin front, Ether (ETH) appears to be showing some signs of life as noted by cryptocurrency analyst Willy Woo, who recently tweeted that “Ether [is] setting up to break upwards out of a very long term, 3.5-month bearish trend line.”Data from Cointelegraph Markets Pro and TradingView shows that the ETH price is now trading above support at $2,900, with bulls looking to make another run at breaking the $3,000 resistance after being firmly rejected at that level over the past few days. ETH/USDT 1-day chart. Source: TradingViewHere’s what several analysts are saying about ETH’s near-term outlook and what levels to keep an eye on should the price break to the upside or experience a slide lower. ETH needs to break above resistance at $3,000The coiling nature of the current Ether price action was highlighted by crypto trader and pseudonymous Twitter user “Rager,” who posted the following chart and noted that “Ether continues to slowly compress with lower-highs.” ETH/USD 4-hour chart. Source: Twitter“Currently watching to see if price can push back up $3000, would like to see that as the first level to stay above,” Rager tweeted.A similar outlook was expressed by crypto trader and pseudonymous Twitter user “Cactus,” who posted the following chart noting the importance of a price breakout above the “key trendline” at $2,860 and provided one possible price trajectory moving forward. ETH/USD 8-hour chart. Source: TwitterCactus said:“Price is looking healthy, nice pullback into this 0.618 fib level and LTF buyers buying into this support. Could range here for a little while. All eyes on breaking this key resistance at $3000.”Lower support at $2,800Further insight into the price action at these levels was offered by market analyst and Cointelegraph contributor MIichaël van de Poppe, who posted the following chart stating: “good bounce on Ethereum here, which makes it likely that we’re going to take the highs around $3,000.”ETH/USD 2-hour chart. Source: TwitterThis proclamation was followed by a word of caution from van de Poppe, who noted that “the question will be how strong we’re going to move from there.” “Immediate rejection and we’re at the highs of this relief rally,” van de Poppe said.Should this indeed mark the top of this relief rally, van de Poppe identified $2,800 as the next crucial support level for Ether. Related: Bitcoin ‘could easily see $30K’ with stocks due to 30% drawdown in 2022 — AnalystEther gains strength against BTCA final bit of insight into how Ether is holding up against Bitcoin was provided by trader and pseudonymous Twitter user “Cantering Clark,” who posted the following chart showing a rise in the ETH/BTC pair and highlighted the influence of the upcoming merge between the Ethereum mainnet and the Beacon Chain proof-of-stake system. ETH/BTC 1-day chart. Source: TwitterCantering Clark said:“All signs point to strength for ETHBTC. The narrative is building, which is the most important detail. No exact date for the merge is more bullish than an exact date.”The overall cryptocurrency market cap now stands at $1.867 trillion and Bitcoin’s dominance rate is 41.7%.The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

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OCEAN gains 86.4% in March ahead of Q2 launch of Ocean v4

OCEAN gains 86.4% in March ahead of Q2 launch of Ocean v4

Uverejnil používateľ | mar 21, 2022 |

Data security and accessibility have become important issues of the modern age as the world slowly progresses towards a Web3 future that establishes blockchain technology as the underlying infrastructure for the new internet.One project that is looking to capitalize on this growing trend by establishing tools for the new Web3 data economy is Ocean Protocol (OCEAN), a blockchain ecosystem that helps individuals and businesses unlock the value of their data and monetize it through the use of datatokens. Data from Cointelegraph Markets Pro and TradingView shows that, over the past two weeks, the price of OCEAN has rallied 86.4% from a low of $0.40 on March 7 to a daily high of $0.748 on March 21 amid a 562% surge in its 24-hour trading volume to $321 million. OCEAN/USDT 4-hour chart. Source: TradingViewThere are three main reasons for OCEAN’s price rally: the upcoming launch of Ocean v4, the addition of new projects to the Ocean protocol, thanks to the ongoing OceanDAO grant program and an expanding list of data partners that bring real-world use cases to the ecosystem. The upcoming launch of Ocean v4One of the biggest developments boosting OCEAN’s momentum in March is the upcoming launch of Ocean v4, which is currently in public testing and is expected to go into production in the second quarter of 2022. .@oceanprotocol is launching Version4 in the next weeks and it will get really interesting for data management and monetization.Data X Defi = Data IP: managed by NFTs (ERC721)Data consumption: managed by datatokens (ERC20)This is how Data meets DeFi. $OCEAN — AquaNaut (@AquaNauxt) March 20, 2022According to the project, Ocean v4 will include several upgrades including a mechanism that purports to solve rug pulls in the datatoken pools by eliminating the initial datatokens provided to publishers. The new protocol upgrade will also see the introduction of data NFTs, which add nonfungible token capabilities to base intellectual property (IP) as a way to help increase revenue streams, as well as the addition of new ways for the community to monetized data. Ocean v4 will initially be deployed on the Ethereum Virtual Machine (EVM) chains that currently support v3, including the Ethereum mainnet, Polygon, BNB Smart Chain, Moonriver and Energy Web Chain, and will be deployed on additional EVM chains over time. OceanDAO grantsA second factor helping to strengthen the outlook for OCEAN is the ongoing OceanDAO grant process, which helps new projects launch on the network. The Ocean Protocol Foundation originally announced its $140 million grant initiative back in October 2021 as a way to help fund projects in the Web3 data economy that were interested in using Ocean’s data markets and data unions. OceanDAO recently completed the 15th round of grant rewards, which was won by TalentDAO, a protocol designed to address the lack of scientifically validated surveys for studying organizational health in the context of DAO contributors.We continue with introducing the winning projects of the recently concluded @OceanDAO_ Round 15 to the Ocean Community @talentDAO_ is the latest grantee to have joined the Ocean ecosystem! pic.twitter.com/Qe9YHjRFgY— Ocean Protocol (@oceanprotocol) March 18, 2022

The 16th round of OceanDAO is now underway, offering a pool of 200,000 OCEAN tokens available for funding. The submission deadline is April 5. Related: Marshall Islands officially recognizes DAOs as legal entitiesNew data partnersThe addition of new data partners to the Ocean Protocol ecosystem is a third factor helping to boost the overall outlook of OCEAN as they represent real-world adoption of the Open Data Economy. Dimitra Technology is the latest company to partner with Ocean as a way to help agricultural producers leverage blockchain technology and data to produce higher yields. In this partnership, Ocean’s Web3 capabilities will be employed to enable data sharing and monetization so that small farmers can benefit from an extra layer of revenue. Read more on the collaboration here: https://t.co/MADC2yaCPz— Ocean Protocol (@oceanprotocol) March 17, 2022

The protocol has also announced the launch of Ocean Shipyard, which is designed to help fund entrepreneurs who are looking to build open-source Web3 solutions on Ocean Protocol and create value for the Ocean ecosystem.VORTECS™ data from Cointelegraph Markets Pro began to detect a bullish outlook for OCEAN on March 19, prior to the recent price rise. The VORTECS™ Score, exclusive to Cointelegraph, is an algorithmic comparison of historical and current market conditions derived from a combination of data points including market sentiment, trading volume, recent price movements and Twitter activity.VORTECS™ Score (green) vs. OCEAN price. Source: Cointelegraph Markets ProAs seen in the chart above, the VORTECS™ Score for OCEAN climbed into the green on March 19 and hit a high of 78 around 14 hours before the price increased 54% over the next day.The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

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Altcoin Roundup: Three layer-1 protocols see inflows amid choppy, volatile market conditions

Altcoin Roundup: Three layer-1 protocols see inflows amid choppy, volatile market conditions

Uverejnil používateľ | mar 18, 2022 |

Layer-1 (L1) protocols are the foundation of the decentralized application ecosystem, with the Ethereum network dominating the landscape in terms of the number of protocols launched on-chain and total value locked (TVL), followed by BNB Chain and Fantom. As the sideways market of 2022 drags on and serious projects use the time away from the frenzy of bull markets to work on development, several L1 protocols have been outperforming the field and making gains despite weakness in the wider crypto market. Here’s a look at three L1 protocols that are seeing growth in their decentralized finance (DeFi) communities and an influx of TVL on their networks. WavesWaves is a multi-purpose blockchain protocol that was originally launched in 2016 and has since undergone several transformations along the path to Waves 2.0. The Waves ecosystem has experienced tremendous growth over the past month, with the protocol’s TVL increasing from $700.95 million on Feb. 4 to a new record high of $2.77 billion on March 18, according to data from DefiLlama. Total value locked on Waves. Source: Defi LlamaThe network’s increased TVL has largely been attributed to gains on the algorithmic price-stable “assetization protocol” Neutrino, which creates stablecoins tied to real-world assets, cryptocurrencies and the non-custody liquidity protocol Vires Finance. Total value locked statistics for Neutrino and Vires Finance. Source: Defi LlamaDuring the aforementioned period of Feb. 4 through March 15, the price of Waves surged 278% from a low of $8.17 to a high of $31.04, suggesting that interest in the Waves ecosystem has been increasing on multiple fronts. OasisOasis is a privacy-enabled L1 blockchain network that focuses on offering high throughput and low transaction fees in a secure manner.The Oasis network got off to a quick start in terms of TVL when its first decentralized exchange, YuzuSwap, launched in early January and quickly amassed more than $160 million in liquidity. However, the TVL would quickly fall through late February, reaching $65.18 million.Total value locked on Oasis. Source: Defi LlamaAfter an initial period of volatility, Oasis’ TVL has climbed to a new high of $194.92 million, thanks in large part to the rise of the ValleySwap automated market maker protocol, which has seen its TVL climb to $125.5 million in March. Related: Here’s how traders were alerted to RUNE’s, FUN’s, WAVES’ and KNC’s big rallies last weekCosmos ecosystem chainsA third chain that is having a big impact on the DeFi sector is Cosmos and its Interblockchain Communication protocol. Cosmos’ TVL is understated, as most data providers don’t track the chains in the Cosmos ecosystem in the same way they track Ethereum.Some of the most notable gains in TVL over the past month have come on chains that are part of the Cosmos ecosystem, including Terra, Cronos and THORChain. As mentioned in a previous Altcoin Roundup, a significant portion of the growth seen on Terra has come via inflows to the Anchor protocol, which is responsible for minting the TerraUSD (UST) stablecoin. These inflows have increased Anchor’s TVL by 54.58% to $13.57 billion, which also boosted Terra’s overall TVL to $26.34 billion on March 10. Total value locked on Terra. Source: Defi LlamaCronos is a blockchain network that arose out of the Crypto.com ecosystem when the project rebranded in November 2021. As part of this process, Crypto.com’s CRO token was rebranded to Cronos. Since its unveiling, the Cronos network has had a total of 48 protocols launch on-chain or establish cross-chain integrations, which raised the network’s TVL to an all-time high of $3.19 billion on March 18. Total value locked on Cronos. Source: Defi LlamaCronos’ TVL spike occurred during a period where the value of CRO declined 32% from a high of $0.54 on Feb. 10 to a low of $0.372 on March 15, suggesting the value added to the ecosystem came from new assets migrating or launching on-chain.VVS Finance had previously been reported as the main DeFi protocol on Cronos, but it has actually seen its TVL fall by 4.78% over the past month. Instead, the recent increase in Cronos’ TVL largely comes from MM Finance, Tectonic and MM Optimizer. Top 4 protocols by TVL on Cronos. Source: Defi LlamaThe final shoutout to blockchain networks in the Cosmos ecosystem goes to THORChain, a decentralized liquidity protocol focused on cross-chain interoperability. Thanks to several factors, including the recently added support for “synthetic assets” and its upcoming mainnet launch, activity in THORChain’s ecosystem has been on the rise, with its TVL climbing from $167 million to $267.65 million between March 1–16. The total value locked on these three protocols, combined with that of the top Cosmos-based decentralized exchange, Osmosis, gives the Cosmos ecosystem a total TVL of more than $30.25 billion. This makes Cosmos the second-ranked blockchain network by TVL behind Ethereum. Want more information about trading and investing in crypto markets?The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

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