Autor Cointelegraph By Jordan Finneseth

Down, but not out: Here’s why Theta could be a breakout star in 2022

Down, but not out: Here’s why Theta could be a breakout star in 2022

Uverejnil používateľ | jan 17, 2022 |

2021 was a rollercoaster ride for many projects in the cryptocurrency market but as is the nature of crypto, many tokens hit new all-time highs and then spent the following months drifting lower as the hype surrounding the project faded and traders moved into greener pastures.This is exactly what happened with Theta, a decentralized broadcasting platform that allows users to earn rewards by contributing their computing resources toward the health of the network. Theta token kicked off its run on Dec. 11, 2020, when it rose 2,468% from a price of $0.621 to a new record high at $15.90 on April 16, 2021, as Global 500 firms like Google and Sony Europe joined the network’s validator program and Theta Labs was granted its second patent on designs for decentralized blockchain-based video and data delivery.Data from Cointelegraph Markets Pro and TradingView shows that, since hitting a high of $5.98 on Dec. 27, the price of Theta has slid down to its major support near $3.85 as the wider cryptocurrency market fell under pressure.THETA/USDT 1-day chart. Source: TradingViewEven with the reversal of fate, Theta still has a handful of fundamental reasons for holders to be bullish in the long-term.Three reasons to remain bullish on THETA in 2022 include the upcoming launch of the ThetaDrop nonfungible token (NFT) marketplace, the addition of new staking resources and the overall focus on live streaming and gaming which is currently supported by big-name partnerships and integrations. ThetaDrop launches on February 1One of the biggest developments for Theta in 2022 will be the full launch of its ThetaDrop NFT marketplace. Plans on airdropping the TDrop governance tokens to members of the Theta community start on Feb. 1. ThetaDrop does not have any plans for a token sale and instead plans to release its 20 billion token supply over a four-year period to members of the community who provide NFT liquidity mining or stake THETA, TFUEL and TDRop on the network. TDrop supply release schedule. Source: TDrop whitepaperOn top of the upcoming ThetaDrop launch, the network has also seen a handful of new projects launch on its blockchain, including the OpenTheta NFT marketplace and the Voltswap DeFi platform, which supports the swapping of Theta based assets. Protocols like Meter Passport and ThetaBridge also support asset bridging between Theta and other Ethereum virtual machine (EVM) compatible networks. Staking access improvesImproving access to staking is another potentially bullish factor for Theta and its TFUEL utility and gas token.When the network first launched, users were required to stake a minimum of 10,000 THETA to operate a guardian node and help secure the network. Eventually, the required minimum was lowered to 1,000, but Theta’s price run above $14 in early 2021 resulted in most token holders being unable to meet this threshold as well. This led to the creation of sites like GPooL and, more recently, Thetaboard which gives THETA and TFUEL holders access to staking for a small commission. Thetaboard also launched its own NFT marketplace to serve the growing NFT ecosystem which includes limited editions of NFT collections released by popular celebrities like Katy Perry.THE ROAR COLLECTION is now live @ThetaDrop! Go 2 https://t.co/47eohxS34i to get ur limited edition NFTs (1️⃣of em is only available for 24 hrs) &if ur feeling bold u can bid to OWN one of my BIGGEST show props of all time! Speaking of REAL BIG stay tuned for #PLAY NFTs pic.twitter.com/K7PxnxdhvK— KATY PERRY (@katyperry) December 15, 2021Related: Year of sponsorships: Celebrities who embraced crypto in 2021Blockchain gaming and video streaming are still growing sectorsA third reason for taking a bullish stance on Theta in the future is the protocol’s focus on advancing blockchain-based video streaming and gaming and its current partnerships with Samsung and Sony. Gaming was one of the breakout sectors of the crypto ecosystem in 2021 and that trend looks to remain strong in 2022 as blockchain technology continues down the road to mass adoption. Users of the Theta.tv interface can earn rewards by watching members of the community play games like League of Legends or The Witcher 3: Wild Hunt. Non-gamers can watch, contribute and earn by watching channels from NASA or the World Series of Poker. The protocol also stands to benefit from multiple big-name collaborations including a partnership with Samsung that will see the Theta.tv app preloaded on smart TVs released by the company. This will enable users to receive TFUEL rewards for watching their favorite shows. Theta also has partnerships with Google, Sony and all three companies (Samsung included) operate as validator nodes for the network. While THETA’s fundamentals look attractive, let’s see what the charts project. THETA/USDTheta (THETA) has been trading inside a descending triangle pattern for the past several weeks. The 20-week exponential moving average ($5.64) has turned down and the relative strength index (RSI) is in the negative territory.THETA/USDT weekly chart. Source: TradingViewThis suggests that the path of least resistance is to the downside. The previous rebound off the strong support at $3.85 turned down from the 20-week EMA. Hence, this becomes the key resistance to watch out for in the short term.If the price bounces off the current level but once again turns down from the 20-week EMA, it will indicate that bears are selling on every minor rally. That will increase the possibility of a break below $3.85. If that happens, the THETA/USDT pair could slide to $1.46.Contrary to this assumption, if bulls drive the price above the 20-week EMA, it will be the first sign that the selling pressure could be reducing. The pair could then rise to the 50-week simple moving average ($6.88) and later to the downtrend line.THETA/USDT daily chart. Source: TradingViewThe pair bounced off the $3.85 support on Jan. 11, indicating that bulls are accumulating on dips. The RSI has formed a positive divergence, suggesting that the selling pressure could be reducing.If bulls drive the price above the 20-day EMA ($4.41), the pair could rise to the downtrend line. This level may act as a stiff resistance, but if bulls overcome it the pair could rally to $5.94. A break and close above this level could complete a double bottom pattern in the short term. This setup has a pattern target at $8.03.Conversely, if the price turns down from the 20-day EMA or the downtrend line, it will suggest that sentiment remains negative and traders are selling on rallies. The bears will then attempt to pull and sustain the pair below the $3.85 to $3.50 support zone. If they succeed, it will signal the start of the next leg of the downtrend.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.
* Technical analysis of THETA provided by Rakesh Upadhyay

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Propy rallies 227% as real estate NFTs become reality and PRO lists at Coinbase

Propy rallies 227% as real estate NFTs become reality and PRO lists at Coinbase

Uverejnil používateľ | jan 17, 2022 |

Nonfungible tokens (NFTs) skyrocketed in popularity over the course of 2021 as the wider public became enthralled with projects like the Bored Ape Yacht Club and CryptoPunks, but these one-of-a-kind digital images are only scratching the surface of what NFT technology is capable of. One project focused on expanding the functionality of NFTs beyond the digital art space is Propy, a protocol focused on the integration of blockchain technology with the real estate sector by automating the closing process of home buying to make the entire process faster, simpler and more secure. Data from Cointelegraph Markets Pro and TradingView shows that after hitting a low of $1.12 on Jan. 12, the price of PRO moved 227% higher to hit a daily high at $3.67 on Jan. 14 as its 24-hour trading volume spiked 452% to $29.3 million. PRO/USDT 4-hour chart. Source: TradingViewThree reasons for the sudden surge in Propy price include the token being listed on Coinbase exchange, the successful completion of the first sale of a real estate NFT and growing potential of NFTs to be used in different use cases. The Coinbase bumpThe surge in the price of PRO on Jan. 14 was in large part due to the token listed on Coinbase, the largest cryptocurrency exchange in the United States. INV, LQTY, NCT and PRO are now live on https://t.co/iQARfimGvY & in the Coinbase iOS & Android apps. Coinbase customers can log in now to buy, sell, convert, send, receive or store.https://t.co/Yhm3KRFbAr pic.twitter.com/TFzIoqhQG4— Coinbase (@coinbase) January 13, 2022Prior to the Coinbase listing, the PRO token was only available on a limited number of exchanges including Huobi Global, Bitrue and the decentralized exchange Uniswap. Coinbase is the second-largest cryptocurrency exchange by volume globally and the main exchange serving U.S.-based investors who have historically conducted the highest volume of cryptocurrency trading. The first real estate NFT in the U.S.A second development that is helping to boost the price and trading volume of PRO is the upcoming sale of the first real estate NFT in the United States. According to Propy founder and CEO Natalia Karayaneva, the reason Propy chose Florida for its first U.S.-based real estate sales include a crypto-friendly state government, positive future price growth and demographic statistics, a growing job market and the state’s 0% individual income tax policy. While the upcoming sale in Tampa marks the first real estate NFT sale in the U.S., Propy completed the first-ever NFT sale back in 2017 when TechCrunch founder Michael Arrington sold his Kyiv apartment for 36 Ether. Related: NFT sales and blockchain games continue to grow despite the recent market slump: ReportRising popularity of NFTs and blockchain technologyAnother reason for the building momentum behind Propy is the overall growth in awareness of NFTs and blockchain technology. The promise of integrating NFTs with things like house deeds and corporate contracts has been a topic of discussion for years, and last year’s explosion in NFT interest and trading volume raised the level of public awareness to the point where the concept can gain more traction.On top of the usefulness of NFT technology, the increasingly dire state of the global financial system has investors looking for secure places to store their wealth, for which real estate has long been a preferred safe haven. Best hedge against all of the chaos in the world:1. crypto2. real estate3. investment in yourself— Natalia Karayaneva (@NataliePropy) December 29, 2021

Now, the process of buying and holding real estate is about to enter the 21st century with the integration of blockchain technology and NFTs because the influence of middlemen will be reduced, helping to lower the cost of the entire process. 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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3 reasons why Harmony (ONE) rallied back to its all-time high this week

3 reasons why Harmony (ONE) rallied back to its all-time high this week

Uverejnil používateľ | jan 16, 2022 |

Bitcoin price is still a ways from its $69,000 all-time high but this isn’t stopping altcoins from moving toward new highs. Data from Cointelegraph Markets Pro and TradingView shows that since hitting a low of $0.13 on Dec. 4, the price of Harmony (ONE) has risen 163% to establish a new all-time high of $0.38 on Jan. 14 ONE/USDT 1-day chart. Source: TradingViewThree reasons for the growing strength of Harmony include an expanding ecosystem, the launch of multiple cross-chain bridges and developers interest in finding Ethereum network alternatives.ONE benefits from Harmony’s $300 million ecosystem development fundOne of the biggest boosts to the overall health of the Harmony ecosystem began back in September when the project launched a $300 million developer incentive program designed to help fund bug bounties, grants and the creation of 100 decentralized autonomous organizations (DAOs) on Harmony. Since the launch of the program, 23 DAOs have been funded and launched on the Harmony network with more currently in development. The incentive program has also helped attract multiple protocols to the Harmony blockchain in some of the most popular sectors of the ecosystem, including DeFi, payment platforms and nonfungible token (NFT) projects. 1/ @harmonyprotocol approves 21 more proposals for its $300M Ecosystem Fund DeFi: @epnsproject @AnChainAI @perpprotocol @freyalacryptoPayments: @Allbridge_io @MIM_Spell @klever_io @Trustee_WalletNFT: @TheDeFimons @KangaFinance @StoreyTheApp @NiftyRow And more ⬇️ pic.twitter.com/zxyl4Z3wWJ— Harmony (@harmonyprotocol) January 13, 2022Cross-chain bridges help raise Harmony’s prospectsAnother reason for Harmony ‘s recent strength is the launch of several cross-chain bridges that connect the Harmony network with other Ethereum Virtual Machine compatible networks like Celer and Polygon. 1/ We are excited to announce that @CelerNetwork has extended support to @harmonyprotocol.ONE users can now use the multi-chain ‘cBridge’ to transfer $USDC and $WETH instantly and at a low-cost. More ⬇️— Harmony (@harmonyprotocol) January 12, 2022

On top of the most recent integration with the Celer c-bridge, which enabled the cross-chain transfer of USD Coin (USDC) and Wrapped Ether (wETH), Harmony launched a cross-chain NFT bridge as part of the Horizon bridge back in November of 2021. Most recently, the project revealed a collaboration with the L1 protocol Cosmos to create a bridge between the two rapidly growing ecosystems in an effort to further expand its interoperability and help scale cross-chain finance. 1/ We are glad to announce that we have approved a grant for @datachain_en to build a bridge between Harmony & @cosmos.Datachain’s experience in building interoperability solutions using trustless intermediaries is peerless. ONE step closer towards scaling cross-chain finance pic.twitter.com/27ueWWUkT0— Harmony (@harmonyprotocol) January 12, 2022

Harmony is also in the final stages of creating a native bridge to the Bitcoin network which is expected to be released before the end of Q1 2022.Related: ICON commits $200M to interoperability incentive fundNew users and ecosystem growth back record high TVLAnother bullish metric backing Harmony’s growth is its rising TVL, which is now at an all-time high of $1.25 billion according to data from Defi Llama. Total value locked on Harmony. Source: Defi LlamaSeveral DeFi protocols are thriving on the Harmony network, including DeFi Kingdoms (JEWEL), which accounts for $747 million of the TVL, Tranquil Finance with $201.85 million and Viperswap with a $54.4 million TVL. VORTECS™ data from Cointelegraph Markets Pro began to detect a bullish outlook for ONE on Jan. 8, 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. ONE price. Source: Cointelegraph Markets ProAs seen in the chart above, the VORTECS™ Score for ONE spiked into the green zone on Jan. 8 and hit a high of 75 around 48 hours before the price proceeded to increase 50% over the next four days. 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: 3 ways blockchain technology could further mainstream in 2022

Altcoin Roundup: 3 ways blockchain technology could further mainstream in 2022

Uverejnil používateľ | jan 15, 2022 |

2021 was a breakout year for the cryptocurrency sector and this year is expected to see an extension of the “mass adoption” trend.Public awareness of blockchain technology is on the rise and a new cohort of projects designed to fill more niche roles in society are likely to emerge in the coming months. Three sectors that have the potential to see significant growth in 2022 are human resources (HR), employee payment solutions and platforms that serve the gig economy by offering corporate blockchain solutions.HR might pivot toward blockchain Human resource management is ripe for blockchain integration due to the security and data storage solutions offered. Blockchain would allow each employee to have a unique address where all pertinent information could be cryptographically stored. HR also deals with the recruiting and hiring of new employees, an increasingly difficult task in today’s world where the labor force participation rate stands at 61.9%, its lowest level since 1976.For blockchain-related jobs, the task becomes even more challenging due to the limited number of people with the knowledge and capabilities to work in the nascent sector. Keep3rV1 is one protocol that focuses on connecting employers with workers, and the decentralized job board is specifically designed to connect blockchain projects with external developers that provide specialized services. KP3R/USDT. 1-day chart. Source: TradingViewWhile Keep3rV1 focuses specifically on blockchain developer jobs, if the model proves to be a success, the concept could easily be expanded to serve a wider audience of job seekers and employers. Payroll also falls under the HR category and projects like Request (REQ) support a decentralized payments system where anyone can request a payment and receive money through secure means.This is an ideal setup for freelancers. Experimental platforms like Sablier Finance also offer workers the option to be paid for their labor in real-time rather than wait for the end of a payroll period to receive their paycheck in a lump sum. The gig economyRide-sharing services like Uber and Lyft and creator/freelance marketplaces like Fiverr were the bedrock of the gig economy. 2021 estimates show that 36% of the United States workforce participated in the gig economy either as their primary or secondary source of income. Data also shows that 55% of gig workers were also working a separate primary job. Current projections indicate that by 2023, up to 52% of the U.S. workforce will be actively working in the gig economy or will have done so at some point in their career, so it’s a growing field that could benefit from the integration of blockchain technology. One project that has already established its own freelancer job board is Chronos.tech (TIME), a blockchain-based recruitment, HR and payment processing protocol whose LaborX platform is similar to websites like Fiverr but conducts all transactions utilizing blockchain technology and smart contracts. TIME/USD 1-day chart. Source: CoinGeckoIn addition to the Chronos.tech, LaborX and PaymentX protocols, the ecosystem has also recently added decentralized finance (DeFi) functionality by allowing TIME holders to stake their tokens on the protocol to earn a yield. Freelancers can stake TIME on the network to receive bonuses for completed tasks while customers can stake to earn special rebates as a reward for holding the token.Related: Volcanos, Bitcoin and remittances: A Tongan lord plans for financial securityCorporations embrace blockchain solutionsEnterprise-level blockchain-based solutions are also expected to thrive in 2022.Many of the top contenders that offer enterprise solutions are layer-one blockchain protocols like Ethereum and its Hyperledger framework or Bitcoin’s layer-two lightning network scaling solution that was recently integrated with the Cash App. Other strong contenders in the field of enterprise solutions include Fantom and the Polygon network because they have lower transaction fees and faster processing capabilities. FTM/USDT vs. MATIC/USDT 1-day chart. Source: TradingViewA final protocol that specifically focuses on creating an enterprise-grade public network that allows individuals and businesses to create decentralized applications (DApps) is Hedera (HBAR). According to Hedera’s website, the project is owned and governed by some of the world’s leading organizations including IBM, Boeing, Google, LG and Standard Bank. The high throughput nature of Hedera’s hashgraph architecture makes it ideal for large businesses that would require a significant amount of transactions to serve their global client base. These use cases include payment processing, fraud mitigation, the ability to tokenize assets, verifying identity, the secure storage and transfer of data and the ability to create a private, permissioned blockchain for in-house use. 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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3 reasons why Near Protocol (NEAR) just hit a new all-time high

3 reasons why Near Protocol (NEAR) just hit a new all-time high

Uverejnil používateľ | jan 14, 2022 |

The layer one (L1) battle is starting to heat up again and multiple protocols have seen their token values rise in recent weeks as traders venture out to see what life is like outside of the Ethereum (ETH) network. One L1 protocol that has seen its token price climb to a new all-time high this week was NEAR, a community-run cloud computing platform focused on interoperability and lightning quick transaction speed.Data from Cointelegraph Markets Pro and TradingView show that, following a pullback that hit a low of $13.10 on Jan. 9, the price of NEAR climbed more than 50% to establish a new record high at $20.36 on Jan. 14. NEAR/USDT 4-hour chart. Source: TradingViewThree reasons that contributed to the growing strength of NEAR include the successful completion of a $150 million funding round, the success of the Aurora cross-chain bridge protocol and an expanding ecosystem of projects and developers working on the NEAR network. NEAR raises $150 million in funding roundThe most recent price spike followed an announcement that the team had successfully closed its latest funding round, raising $150 million from a variety of investors including Dragonfly Capital, a16z, Alameda and Circle Ventures. @NEARProtocol raises $150M to boost ecosystem growth! #NEAR has announced the close of a $150 million funding round led by @zhusu’s Three Arrow Capital.Participants included @MechanismCap, @a16z, @dragonfly_cap, #Alameda and many more.Learn https://t.co/DjilZpkYPH— NEAR Blockchain (@NEAR_Blockchain) January 13, 2022NEAR plans to use the funds raised to accelerate the adoption of Web3 technologies via ecosystem funding, developing out regional hubs for the NEAR community to help raise awareness for the brand and by providing support to the projects building on the protocol. In addition to the communities established in Asia, Africa and Europe, NEAR is also looking to expand its reach to Latin America, Turkey and India. Aurora cross-chain bridgeA second factor behind the rise of NEAR over the past month was the successful launch of Aurora protocol. This platform is built on NEAR and it helps users and the decentralized applications that operate on the Ethereum network bridge to NEAR protocol.Aurora utilizes the Rainbow Bridge to facilitate the migration of assets between supported networks and has quickly become a popular protocol for cross-chain transfers with more than $732 million in total value locked, according to data from Defi Llama. As a result of the increased activity brought by the increased adoption of projects on NEAR and the migration of tokens from Ethereum, the daily transaction count on the NEAR network established a new record high of 721,061 transactions on Jan. 11.Daily number of transactions on NEAR. Source: NEARRelated: Which layer-one protocols will outperform in 2022?Ecosystem expansionA third development helping to boost the value of the NEAR ecosystem has been the growth of its developer community. There has been an increase in the number of projects launched or bridged to the NEAR network over the past two months. Developers on #NEAR get 30% of the txns fees spent on their contract!! – maybe one of many reasons why MAD on @NEARProtocol is growing rapidly and has shown 4x+ growth in 1 year! Top 3 in fastest-growing dev ecosystem pic.twitter.com/UCe9jYVRcG— THE NEARWEEK Ⓝ (@NEARWEEK) January 11, 2022

As seen in the tweet above, NEAR now has the third-fastest growing developer community across the whole of the cryptocurrency ecosystem, thanks in part to the fact that developers on NEAR get 30% of the transaction fees spent on their contract. This provides an income for developers in a field where compensation is not always guaranteed. The expanding developer community, combined with the release of a cross-chain bridge, has led to an expansion of the NEAR ecosystem which continues to grow and attract new projects. Projects in the NEAR ecosystem. Source: NEAR MatesVORTECS™ data from Cointelegraph Markets Pro began to detect a bullish outlook for NEAR on Jan. 9, 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. NEAR price. Source: Cointelegraph Markets ProAs seen in the chart above, the VORTECS™ Score for NEAR climbed into the green zone on Jan. 9 and hit a high of 75 around one hour before the price began to increase by 52% over the next four days. 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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