Autor Cointelegraph By Jordan Finneseth

MXC’s 200% gain hints that LoRaWAN IOT mining projects could rally in 2022

MXC’s 200% gain hints that LoRaWAN IOT mining projects could rally in 2022

Uverejnil používateľ | jan 19, 2022 |

Cryptocurrency mining has become a hot topic of conversation over the past couple of years due to its lucrative nature and the impact the industry has on the environment. The emergence of Web3 and the increased presence of Internet of Things (IoT) devices has led to a new class of low-cost mining protocols with low-power network technology. These include LPWAN or LoRaWAN which are designed to transmit low bit rate data over long distances. One such protocol that has been gaining traction in recent months is MXC, a Web3 infrastructure protocol designed to provide geolocation-based LPWAN coverage to IoT devices around the world Data from Cointelegraph Markets Pro and TradingView shows that since hitting a low of $0.046 on Jan. 1, the price of MXC has seen a 200% rally to a new all-time high of $0.139 on Jan. 19. MXC/USDT 1-day chart. Source: TradingViewThree factors adding to MXC’s building momentum include the earning capability of the MXC miners that can mine multiple cryptocurrencies simultaneously, the introduction of one-week shipping for new mining devices and an expanding, global ecosystem of partners and independent mining nodes. Mining diversity could be an advantageThe IoT mining sector has seen many new entrants become established in recent years with projects like Helium (HNT) and Nitro Network (NCASH) offering LoRaWAN based networks that transfer data in exchange for the native HNT and NCASH tokens. MXC has chosen a different route that utilizes a low-power wide-area network (LPWAN) to offer coverage for IoT devices that can also mine multiple cryptocurrencies, including Bitcoin (BTC), MXC and DataHighway (DHX) simultaneously. The MXC network uses its MatchX M2 Pro LPWAN miner, which is available for purchase on their website at a price of € 2,499 or on Amazon for a price of $3,299, alongside the DataDash app, which allows users to manage its miners and rewards. In terms of devices capable of mining Bitcoin, the M2 Pro miner requires 5 watts of power as compared to the 3,250 watts required by the Bitmain “Antminer S19 Pro.” This makes the M2 better suited for individuals that don’t have a lot of funds to invest in a hefty mining operation. According to one user’s self-report, the M2 Pro miners have been earning a yield of $8 to $10 dollars per day and estimates that it will take a total of 8 months to recoup the original investment. Easy access to M2 ProAnother reason for the building momentum for MXC has been the introduction of one-week shipping for new M2 Pro orders. Shipping Announcement Shipping your M2 Pro takes only 7 days!Applies for everyone on the globeGet your M2 Pro here: https://t.co/8WiTQWqxi2 pic.twitter.com/oArEmi65AV— MatchX (@matchx_iot) January 19, 2022For LPWAN networks, achieving widespread coverage is key to the overall health and long-term viability of the network. Having an easy way for interested parties to obtain mining equipment helps to increase the rate of growth. Delays in miner shipments have been an issue for other networks, including Helium, which has led to hard feelings and some cancellations as users lament the lost-mining time and funds that could have been put to more productive use elsewhere. As a result of the access interested parties have in obtaining the M2 Pro, the MXC network has now reached 18,186 nodes worldwide. MXC node network. Source: MXC MapperRelated: EU securities regulator calls for proof-of-work crypto mining banNew partners and the launch of F-NFTsIn addition to an expanding network, MXC has new partner projects joining its network and there are plans to integrate “functional nonfungible tokens” or F-NFTs.The protocol has partnered with Matcha and the team is currently in talks with Huobi exchange to create promotional offers for international users. MXC has also revealed a new partnership with Random Network which will provide the community with a dashboard for the data that MXC distributes from its global network of M2 Pro miners. MXC is launching Functional #NFTs, also known as F-NFTs!These will change how we grow the global #DataRepublic, enhancing the use of the network + viewable directly on the DataDash app.More here: https://t.co/BxRoZgUVMF pic.twitter.com/k0eIBBLQMD— MXC Foundation (@MXCfoundation) January 13, 2022

On top of collaborating with other entities, MXC recently unveiled plans to launch F-NFTs in an effort to bring “hardware to the metaverse” and expand the community and functionality of the “MXC Data Republic.”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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ELA, API3 and PROM buck the market-wide downtrend by posting a 20%+ gain

ELA, API3 and PROM buck the market-wide downtrend by posting a 20%+ gain

Uverejnil používateľ | jan 19, 2022 |

Fear and volatility remain the theme of the week as Bitcoin (BTC) continues to face stiff resistance near the $42,000 price level and stock markets were also hard hit on Jan. 18. Investor fear over this year’s proposed rate hikes continue to apply bearish pressure and at the closing bell the DOW was down 530 points, or 1.4%.Despite the downturn, altcoins managed to overcome the noise and several posted double-digit gains on Tuesday.Top 7 coins with the highest 24-hour price change. Source: Cointelegraph Markets ProData from Cointelegraph Markets Pro and TradingView shows that the biggest gainers over the past 24-hours were Elsastos (ELA), API3 (API3) and Prometheus (PROM).Elastos launches a token buyback programElastos protocol, a web3-focused project aiming to become the “blockchain-powered version of the internet” broke out with a notable 22% rally.Data from Cointelegraph Markets Pro and TradingView shows that after hitting a low of $2.80 on Jan. 8, the price of Elastos has blasted 120% higher to reach a daily high of $6.16 on Jan. 18 as its 24-hour trading volume spiked 142% to $7.57 million. ELA/USDT 4-hour chart. Source: TradingViewThe surge in price and trading volume for ELA came after the Elastos Foundation announced plans for an upcoming ELA buyback program. The platform’s first decentralized exchange, Glide Finance, also saw an uptick in the total value locked for its protocol. API3 and “first-party” oraclesAPI3 is a protocol focused on enhancing the communication capabilities between smart contracts and application programming interfaces (APIs) as a way to facilitate the secure and reliable transfer of up-to-the-minute data. VORTECS™ data from Cointelegraph Markets Pro began to detect a bullish outlook for API3 on Jan. 18, 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. API3 price. Source: Cointelegraph Markets ProAs seen in the chart above, the VORTECS™ Score for API3 spiked to a high of 77 on Jan. 18 around one hour before its price began to surge 26% over the next two hours. The surge in interest for API3 comes as the protocol’s first-party oracles are gaining momentum within the crypto community.Related: Analysts warn that Bitcoin could dip to $38K ‘before an eventual breakout’Prometheus prepares to launchThe Prometheus protocol offers users a decentralized framework for data monetization designed to facilitate the secure and private exchange of data. Data from Cointelegraph Markets Pro and TradingView shows that PROM spiked 30.84% to reach a daily high of $14.68 on Jan. 18 amidst a 300% surge in its 24-hour trading volume. PROM/USDT 4-hour chart. Source: TradingViewThe price turnaround for Prometheus comes as the project prepares for its full mainnet launch. This will include the initial support for seven assets including Binance Coin (BCH), wrapped BTC, PROM, Tether (USDT), USD Coin (USDC) and Wrapped Ethereum (WETH). The overall cryptocurrency market cap now stands at $1.973 trillion and Bitcoin’s dominance rate is 40%.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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Analysts warn that Bitcoin could dip to $38K 'before an eventual breakout'

Analysts warn that Bitcoin could dip to $38K 'before an eventual breakout'

Uverejnil používateľ | jan 18, 2022 |

The cryptocurrency market faced another day of weakness on Jan. 18 as the price of Bitcoin (BTC) dropped lower and additional pressure was also put on the altcoin market. Currently, the crypto Fear and Greed Index registered “Extreme Fear” among investors and some traders caution that BTC price could soon fall below its recent $39,000 swing low.Crypto Fear & Greed index. Source: AlternativeData from Cointelegraph Markets Pro and TradingView shows that bulls lost control of the $42,000 support level during the early trading hours on Tuesday as bears hammered the BTC price to a daily low of $41,250. BTC/USDT 1-day chart. Source: TradingViewJanuary is historically weak for BitcoinMany crypto holders who were disappointed by the lack of a blow-off top to close out 2021 also expecting fireworks to start 2022, but historically speaking, January “has been one of the most disappointing months for BTC” according to a recent report from Delphi Digital. BTC/USD normalized year-to-date performance. Source: Delphi DigitalDelphi Digital pointed to “a slowdown in global liquidity growth and tighter policy expectations” as the primary source of headwinds for Bitcoin and they highlighted that these factors have also led to weakness in the stock market, which is considered to be strongly correlated with the price movements seen in BTC. Another source of weakness identified by Delphi Digital was a lack of liquidity in the perpetual and futures markets along with a drop in BTC open interest over the past two months. Delphi Digital said, “For the most part, the price contraction stemmed from liquidity issues in the perp/futures market, which triggered a series of liquidations that exacerbated BTC’s initial price weakness.”As for what comes next, Delphi Ditial indicated that “short-term momentum indicators appear to signal the worst may be behind us” and the analyst noted that the Fear & Greed index is at levels not seen since May 2021.Related: Bitcoin hodlers ‘under siege’ at $42K as 30% of BTC supply flips from profit to lossBitcoin price could dip under $38,000A similar trend of weakness was addressed by crypto market intelligence firm Decentrader, who observed that the number of overly bullish “I’m buying the dip” traders on crypto Twitter was challenged around $41,000.The analysts suggested that based on the size and consistency of the BTC drawdown over the past two months, “a move out of the range to the upside is the most probable outcome eventually and they expect the price “to run towards the 200DMA and the point of breakdown in the summer at around $49,000 – $50,000.”BTC/USD 1-day chart. Source: DecentraderDecentrader said, “It is our view that we may need to see some further ranging between $44,000 and potentially $38,000 before an eventual breakout.”For traders hard hit by this latest drawdown, Twitter user ‘John Wick issued a positive perspective.I just want to take a moment to say to you guys who might be underwater in your positions that its okay.Every cycle this happens. Most of us have to wear these battle scars at least once in our journey to becoming a better trader/investor. I know I did.Just don’t give up.— John Wick (@ZeroHedge_) January 18, 2022The overall cryptocurrency market cap now stands at $1.976 trillion and Bitcoin’s dominance rate is 40%.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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Morpheus.Network hits roadmap targets, attracting investors focused on fundamentals

Morpheus.Network hits roadmap targets, attracting investors focused on fundamentals

Uverejnil používateľ | jan 18, 2022 |

The global supply chain has become an area of intense focus over the past couple of years and pressures from the pandemic and backlogged ports have led to a massive range of shortages for everyday items. One protocol that is focusing on optimizing supply chain management and building strength based on data from Cointelegraph Markets Pro is Morpheus.Network (MNW), a supply chain software-as-a-service middleware provider designed to integrate legacy systems with emerging technologies. VORTECS™ scoreboard leaders. Source: Cointelegraph Markets ProAccording to data from Cointelegraph Markets Pro, market conditions for MNW have been favorable for some time. The VORTECS™ Score, which is exclusive to Cointelegraph, is an algorithmic comparison of historical and current market conditions derived from a combination of data points. These include market sentiment, trading volume, recent price movements and Twitter activity.VORTECS™ Score (green) vs. MNW price. Source: Cointelegraph Markets ProAs shown in the chart above, the VORTECS™ Score for MNW has been elevated in the green zone for the majority of the past week and registered a high of 91 on Jan. 15 as its price began to trend higher with a 26% spike to $1.75. Here’s a look at three factors backing the building momentum for MNW. Morepheus upgrades its smart contract One of the biggest factors affecting the price and momentum for MNW over the past few months have been the smart contract upgrades and token swap processes that were initiated on Oct. 19, 2021. The https://t.co/VDc7slHmXR MNW Token Is Here! The Swap Has Now Begun!$MRPH – > $MNWhttps://t.co/C7XO9j67cT— Morpheus.Network (@MNWSupplyChain) October 19, 2021In the process of upgrading to new enterprise smart contracts for increased security and higher levels of efficiency, a token swap was conducted from the old MRPH token to the new MNW token on a 1:1 basis. With the new smart contracts in place, programs stored on the blockchain are now able to execute automatically under certain terms or conditions that have been agreed upon by the parties involved, similar to real-world contracts. These upgrades bring a new level of automation by enabling instantaneous outcomes while also reducing the need for third-party intermediaries. Introduction of masternodesMasternodes being integrated into the protocol’s structure was the second development responsible for the bullish outlook of the Morpheus.Network. This led to a more decentralized network while also giving members of the community a chance to contribute to the ecosystem in exchange for rewards. Introducing MASTERNODES! https://t.co/whZBj2SQhj$MNW— Morpheus.Network (@MNWSupplyChain) December 22, 2021

The roll-out of masternodes is set to take place during the year-long token swap period that ends on Oct. 19, 2022. The Alpha and Beta testing programs will offer MNW token holders an 18% APR based on the number of tokens they have staked. The smallest node available to operate requires 1,800 MNW to be locked up. The largest node operators require a commitment of 360,000 MNW in order to validate transactions. The Morpheus.Network set aside 1.2 MNW in rewards for the alpha and beta testing programs. 12.5% of the funds will go to alpha nodes while the remaining 87.5% will be distributed to beta nodes over the course of 2022. Related: Altcoin Roundup: Three blockchain protocols taking the supply chain crisis head-onInvestors turn bullish on new partnershipsA third factor that has led to the rising VORTECS™ Score and positive outlook for MNW has been a growing ecosystem of partnerships as well as the growing recognition from the wider supply chain community of what the protocol has accomplished. In October 2021, Morpheus.Network was chosen to receive the 2021 ISCEA PTAK Award for Supply Chain Excellence at the SCTECH2021 conference. It was also named as a 2021 Enterprise Blockchain Awards finalist.https://t.co/VDc7slHmXR is a 2021 Enterprise Blockchain Awards finalist! Winners will be announced Tuesday Nov 16 2021 starting at 7PM Eastern, show us your support by registering for the event: https://t.co/3jAmCmKFuG #Blockchain #EBA2021 @blockchainRI $MNW— Morpheus.Network (@MNWSupplyChain) November 16, 2021

Regarding partnerships, Morpheus.Network has joined forces with the Geometric Energy Corporation and Space-X to contribute to the DOGE-1 mission to the moon. This will allow the protocol to explore new ways to optimize the space supply chain. More recently, Morpheus.Network also partnered with VIDT Datalink to help bring more transparency and security to the world’s supply chains. 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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Bitcoin price drops below $42K, but analysts still expect ‘one more impulse’ move

Bitcoin price drops below $42K, but analysts still expect ‘one more impulse’ move

Uverejnil používateľ | jan 17, 2022 |

The wider cryptocurrency market continued to see choppy, sideways price action on Jan. 17 with Bitcoin (BTC) experiencing a midday dip to $41,650. Across the market, trading volumes remain subdued and U.S. financial markets were closed in observation of the Martin Luther King Jr. holiday. BTC/USDT 1-day chart. Source: TradingViewHere’s what analysts are saying about Bitcoin’s price action and the impact today’s correction might have on BTC’s market structure.Major resistance at $43,120Analysis of the weekly Bitcoin price action was provided by crypto trader and pseudonymous Twitter user ‘Rekt Capital’ who posted the following chart showing that BTC is trading near a well-established support and resistance zone. BTC/USD 1-week chart. Source: TwitterRekt Capital said, “The new BTC Weekly Close shows that the black ~$43,120 level is figuring as new resistance. Technically, BTC continues to reside at the upper region of its current $38000-$43,100 range.”Bitcoin’s 4-year cycle is starting to lengthenA look at the long-term trend for Bitcoin was discussed by market analyst and Cointelegraph contributor Michaël van de Poppe, who posted the following charts looking at the Bitcoin’s 4-waves pattern and Realized Cap HODL Waves. According to the analyst, there is a possibility that the typical 4-year cycle for BTC may be lengthening. Bitcoin 4-wave pattern and realized cap HODL waves. Source: Twittervan de Poppe said, “Honestly, it would make a lot of sense. This cycle is longer than the previous one. The 4-year cycles aren’t happening anymore due to macroeconomic impacts. Therefore, this cycle will be higher & longer than everyone expects.”Related: Bitcoin stays in tight range as analyst eyes potential ‘interesting week’ in BTC”At least one more upward impulse”The sentiment of a lengthening Bitcoin price cycle were echoed in a tweet from crypto analyst and pseudonymous Twitter user ‘Techdev’, who posted the following chart providing analysis of the “impulses and corrections over the cycles’ bull markets based on new address trends on-chain.”Number of new Bitcoin addresses and impulse waves. Source: TwitterCompared to the previous impulse waves outlined by Techdev, Bitcoin is still due for a green shaded price breakout in the current cycle before it resets and begins the next one. Techdev said, “At least one more upward impulse to come in my opinion before an impulsive downtrend (bear market) begins.”The overall cryptocurrency market cap now stands at $2.02 trillion and Bitcoin’s dominance rate is 39.6%.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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