Autor Cointelegraph By Jordan Finneseth

ROSE gains 54% in a week as the Oasis Network ecosystem expands

ROSE gains 54% in a week as the Oasis Network ecosystem expands

Uverejnil používateľ | dec 29, 2021 |

High transaction costs have been a thorn in the side of the top blockchain protocols for years as both Bitcoin (BTC) and Ethereum (ETH) have seen the average cost of conducting token transfers skyrocket during times of network congestion and high demand. One layer-one (L1) protocol that has been gaining traction in recent months that seeks to offer a low-cost solution to high fees is the Oasis Network (ROSE), a privacy-focused L1 blockchain built using the Cosmos SDK and designed for open finance and a responsible data economy. Data from Cointelegraph Markets Pro and TradingView shows that since hitting a low of $0.169 on Oct. 28, the ROSE price surged 176.5% to a new record high at $0.466 on Nov. 21 and is once again on the move after gaining 70% since Dec. 20. ROSE/USDT 4-hour chart. Source: TradingViewThree reasons for the building momentum and price for ROSE include the launch of a $160 million Oasis ecosystem fund, the introduction of the first nonfungible token (NFT) project on the network and a rapidly growing community and ecosystem of decentralized applications. Oasis ecosystem development fundThe most significant development for ROSE that helped jumpstart its price rally was the Nov. 17 announcement revealing a $160 million Oasis ecosystem fund designed to help founders and projects build on the Oasis Network and ecosystem.The development fund is backed by a host of partners and investors including Draper Dragon, Hashed, FBG and Pantera Capital, and has the goal of helping expand the ecosystem across multiple sectors such as decentralized finance (DeFi), NFTs, Metaverse, data tokenization, data DAOs, data governance and privacy applications. A major factor attracting projects to Oasis is its built-in privacy features that are designed to support confidential smart contracts; its ability to process transactions for 99% less than the cost on Ethereum adds extra incentive to attract promising applications. Privacy is especially important in DeFi settings; projects that promote it could help facilitate the migration of stakeholders from centralized finance to decentralized alternatives. NFTs come to OasisA second reason for the building strength of ROSE has been the release of the Oasis AI Rose NFTs, the first NFT project on the network. Is it a bird — a plane — Superwoman? No, it’s Oasis AI ROSE NFTs dropping from the Metaverse!If you were Whitelisted for the airdrop, check your wallet to see if you received one of the 1st NFTs built on Oasis Unboxing occurs on Dec 25, 2021 https://t.co/va54RcCNqm pic.twitter.com/VjK5zVGeyI— Oasis Foundation (@OasisProtocol) December 23, 2021To further engage with its community and display the NFT capabilities of the network, 999 AI-generated roses were minted and airdropped to users. On top of the launch of the first NFT project specifically for Oasis, the network also recently signed a partnership with NFTb, which markets itself as a multi-chain NFT and DeFi platform. NFTb currently offers a curated NFT marketplace specifically designed for digital artists, gamers, and music enthusiasts, as well as a first-of-its-kind dual NFT and token launchpad designed to help creators launch their projects.Related: The Metaverse will bring unbridled evolution to NFTsAn expanding ecosystem A third factor helping boost the price of ROSE is an expanding ecosystem of decentralized applications and a growing community of active users. On Dec. 16 it was revealed that YuzuSwap, the first decentralized exchange being built on Oasis, had raised $2 million in funding for development in order to become the “cornerstone of the Oasis DeFi ecosystem.”The network also recently got its first generalized project launchpad with the release of LaunchGarden, a platform that will give projects building on Oasis access to its expanding community as a way to attract early adopters. LaunchGarder will also allow users to stake their ROSE or participate in airdrops for early access to the projects that launch on the platform. Introducing LaunchGarden — The 1st launchpad connecting the Oasis Community & Ecosystem!Everyone can use & build on the Oasis Network, LaunchGarden will give Oasis projects easy access to early users with a multitude of features like staking & airdrops.https://t.co/diQnrjp6hp pic.twitter.com/gVXlcBkOdW— Oasis Foundation (@OasisProtocol) December 22, 2021

Oasis has also benefited from the Nov. 22 Mainnet launch of Emerald, an Ethereum Virtual Machine compatible ParaTime solution that will enable the bridging of tokens between Ethereum and the Oasis network. As a result of the growth in applications on Oasis, the network’s community of supporters has now surpassed 100,000 users and shows no signs of slowing down as new projects continue to be launched. VORTECS™ data from Cointelegraph Markets Pro began to detect a bullish outlook for ROSE on Nov. 29, 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. ROSE price. Source: Cointelegraph Markets ProAs seen in the chart above, the VORTECS™ Score for ROSE climbed into the green zone on Nov. 29 and reached a high of 76 around one week before the token’s 100% price run over the next three weeks. 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 possible downside wick could push BTC price as low as $44K

Analysts warn that possible downside wick could push BTC price as low as $44K

Uverejnil používateľ | dec 28, 2021 |

It looks as though the year-end rally that many crypto traders had hoped for will have to wait until 2022, as Bitcoin (BTC) bears gained the upper hand on Dec. 28 and hammered the price of BTC below support at $48,000. Data from Cointelegraph Markets Pro and TradingView shows that an early morning wave of selling broke through BTC support at $50,000 and was followed by a second wave in the early afternoon that dropped the top cryptocurrency to a daily low of $47,318 before bulls managed to stem the outflow. BTC/USDT 4-hour chart. Source: TradingViewHere’s a look at what several market analysts are saying about the reasons behind this latest correction and what to look out for as 2021 comes to a close. A bearish RSI divergence prior to the reversalInsight into the technical reasons for the year-end correction for BTC price was offered by options trader and pseudonymous Twitter user John Wick, who posted the following chart highlighting a bearish “fake out” as the price of Bitcoin began to reverse. BTC/USDT 4-hour chart. Source: TwitterWick explained:“We formed a double top that was clearly defined by bearish RSI divergence. Notice how price action trends up, while RSI was trending down. We also had a bearish Alpha Thrust & Squeeze fakeout.”Possible dip to $44,000Bitcoin’s continued struggles at the 21-week exponential moving average (EMA) was highlighted in the following chart from market analyst and pseudonymous Twitter user Rekt Capital. The weekly chart shows the difficulty BTC has had in breaking above the technical indicator. BTC/USD 1-week chart. Source: TwitterAccording to Rekt Capital, the price action for Bitcoin is similar to a scenario that occurred back in May “whereby Bitcoin is experiencing a multi-week consolidation between the two bull market EMAs,” and the price could soon revisit the $44,000 level. He continued:“Historically, BTC has performed downside wicks into the orange area during this red retest so there’s scope for another revisit of orange.”Related: Bitcoin daily losses near $4K as S&P 500 hits 69th all-time high of 2021Waiting for a breakout above $52,000Suggestions as to what traders should be on the lookout for in the days and weeks ahead were offered by analyst and pseudonymous Twitter user “Don Alt,” who posted the following chart showing that Bitcoin is in a “pretty clean downtrend, for now.”BTC/USD 1-day chart. Source: TwitterDon Alt indicated that there is not much to see with BTC continuing to trade in a range at these current levels. He is now waiting for a clear break above the first red resistance zone on the chart above, which is located near $52,000. Don Alt further explained:“I start getting hopeful above $52,000, above $60,000 the raging bull market is back on. Until either of those happens, I’m gonna look for deep wicks and focus on other more exciting things.”The overall cryptocurrency market cap now stands at $2.234 trillion and Bitcoin’s dominance rate is 40.3%.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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DeFi sector tokens offer shelter as Bitcoin falls below $48.5K

DeFi sector tokens offer shelter as Bitcoin falls below $48.5K

Uverejnil používateľ | dec 28, 2021 |

The cryptocurrency market slid lower on Dec. 28 as the price of Bitcoin (BTC) lost nearly $4,000 in value in a matter of hours with bulls now looking to secure support at $48,500 to prevent further losses. In the midst of the market-wide drawdown, the decentralized finance (DeFi) sector of the crypto ecosystem has offered some traders shelter from the storm, with several tokens seeing gains in excess of 30%. Top 7 coins with the highest 24-hour price gains. Source: Cointelegraph Markets ProData from Cointelegraph Markets Pro and TradingView shows that the biggest gainers over the past 24 hours were Harvest Finance (FARM), QuickSwap (QUICK) and Aragon (ANT). Harvest Finance moves towards full decentralizationHarvest Finance is a DeFi protocol designed to automatically farm the highest yields available from across the ecosystem and optimize the yields users receive through implementing the latest farming techniques. VORTECS™ data from Cointelegraph Markets Pro began to detect a bullish outlook for FARM on Dec. 25, 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. FARM price. Source: Cointelegraph Markets ProAs seen in the chart above, the VORTECS™ Score for FARM climbed into the green zone on Dec. 25 and reached a high of 75 around two hours before the price increased 207% over the next three days. The boost in the price of FARM comes as the project continues to move towards full decentralization including the ability for community members, known as “builders,” to deploy new farming strategies and update the user interface as needed. QuickSwap adds support for HarmonyQucikSwap is a decentralized exchange and automated market maker that operates on the Polygon network. Data from Cointelegraph Markets Pro and TradingView shows that after trading at a low of $235 on Dec. 22, the price of QUICK catapulted 143% to reach an daily high at $570.50 on Dec. 28 as its 24-hour trading volume spiked 1,240% to $166.6 million. QUICK/USDT 4-hour chart. Source: TradingViewThe sudden surge in QUICK price followed the release of a relay chain between the Harmony (ONE) protocol and Polygon, which allowed for the creation of a MATIC/ONE liquidity provider pool on QuickSwap. Related: Ethereum whales dumping ETH as price slides below $4K, data showsAragon focuses on digital self-sovereignty Aragon is a protocol on the Ethereum (ETH) network that supports the creation of decentralized autonomous organizations (DAOs) as a way to help develop governance structures that encourage community engagement.VORTECS™ data from Cointelegraph Markets Pro began to detect a bullish outlook for ANT on Dec. 25, prior to the recent price rise. VORTECS™ Score (dark grey) vs. ANT price. Source: Cointelegraph Markets ProAs seen in the chart above, the VORTECS™ Score for ANT began to pick up on Dec. 25 and reached a high of 73 around 45 hours before its price increased 55% over the next day. The price appreciation for ANT comes as the concept of Web 3.0 has been gaining momentum heading into 2022, which has helped the team at Aragon make strides towards its goal of supporting “organizational forms that defend self-sovereignty.”The overall cryptocurrency market cap now stands at $2.276 trillion and Bitcoin’s dominance rate is 40.2%.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 say 2022 will be ‘defined by agility and cost-efficiency’ instead of ‘blockchain purity’

Analysts say 2022 will be ‘defined by agility and cost-efficiency’ instead of ‘blockchain purity’

Uverejnil používateľ | dec 27, 2021 |

The entire crypto market took great strides toward mass adoption in 2021 and now that the year is nearly complete, analysts are setting their price targets for 2022.Many analysts supported calls for a $100,000 (BTC) price before the end of 2021 and although this seems unlikely, most investors expect the key price level to be tackled before Q2 of 2022.Here’s a look at some of the Bitcoin price predictions analysts are expecting in 2022.Bitcoin is still on track to surpass $100,000Analysts has been more reticent in providing off the cuff Bitcoin predictions ever since PlanB’s stock-to-flow model incorrectly predicted a $98,000 BTC price by the end of November, even though the model had been spot on from August through October. While some traders are now questioning the validity of the stock-to-flow price model, crypto analyst and pseudonymous Twitter user ‘DecodeJar’ still sees BTC surpassing the $100,000 price point within the next few months and according to the analyst, the price could climb as high as $250,000 by the end of 2022. #Bitcoin top sliding scale model.1/ Conservative/Early projection:Halving-to-top projected at same rate: 7 Jun 22.2.618 Extension in Wave 5: $190,233.2/ Extreme/Late projection:Bottom-to-top projected at same rate: 19 Dec 22.3.618 Extension in Wave 5: $251,971.Thread pic.twitter.com/XP605JZgXg— Steve⚡ (@decodejar) December 12, 2021As shown in the tweet above, DecodeJar sees Bitcoin hitting a ”conservative price target” of $190,233 by June 7 based on Elliot Wave extensions and Fibonacci retracement levels. In a follow-up tweet, DecodeJar cautioned that:“Projections of future price and time are only a guide, but combining this range with other indicators as we get closer, can allow for a clean exit near the top. I favor the more conservative end of the scale ~$190,000.”Regulations are coming in 2022Insight into the future of the entire cryptocurrency ecosystem was addressed by David Lifchitz, managing partner and chief investment officer at ExoAlpha, who stated that “crypto’s will still be around in 2022” in the sense that “governments won’t ban them.” Instead, Lifchitz suggested that “they want to regulate them to keep cryptos on a tight leash vs. fiat currencies and also see them as a source of taxable income to replenish their coffers.” The world needs standards to address risks from crypto and the @FinStbBoard should develop a global regulatory framework to help. Read more about the policies needed in the latest #IMFBlog https://t.co/ZIZ6ggxuIu pic.twitter.com/P0TTSLi8SR— IMF (@IMFNews) December 9, 2021

As the DeFi ecosystem continues to grow and develop new capabilities, Lifchitz predicted that banks and insurances companies will be forced to adapt their business models in order to stay competitive while “middle-man businesses are more at risk as they are made redundant by DeFi.”When it comes to the frenzy that has been the NFT space, Lifchitz expressed reservations about the sector’s ability to continue its lightning-like pace of growth and he addressed some of the deeper concerns that regulators may have moving forward. Lifchitz said, “It has become so hot that one cannot help but wonder if they are not used for money laundering… I know there’s so much money sloshing around thanks to the central banks that has to find a home, but the NFTs in 2021 remind me of the Dot.com era in mid-1998, there’s still room for a parabolic price boom, then a bust.”As far as the hype around the emerging Metaverse, Lifchitz stated that while it does look as though we are headed to a future that could resemble scenes from the movie Ready Player One “where people take refuge into a virtual world since their real world is terrible,” our world is still “years away from that.”Related: Creating a pathway for crypto market growth through better regulationMass adoption is likely to continueDespite the signs of short-term weakness, Loukas Lagoudis, executive director of crypto and digital assets hedge fund ARK36, “firmly believes that the overall bullish trend for the crypto market will continue in 2022.”Lagoudis suggested that “the sustained adoption of digital assets by institutional investors and their further integration into the legacy financial systems will be the main drivers of growth of the crypto space in the next year” as institutions were seen as starting to favor “digital assets over gold as a reserve asset” over the course of 2021. Lagoudis said, “In addition, since digital assets have consistently outperformed traditional asset classes, we predict that investors will see allocation to digital assets as a part of their risk management strategy – especially given the increasingly inflationary economic environment and the declining bond yields.”According to Jean-Marc Bonnefous, head of asset management at Tellurian ExoAlpha, suggested that “the trend seems to be favoring blockchains that focus on performance, dApp development and that are somewhat more centralized.”Bonnefous saithis represents a significant change from the trends of the past which centered more on projects “focused on security, store of value and that are more decentralized like BTC and even Ether.”Bonnefous said, “Basically, the market seems to go for business agility and cost-efficiency rather than blockchain purity, a big change from the past years. This winning relative value trade is likely to continue into next year.”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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5 cryptocurrency projects that made waves in 2021

5 cryptocurrency projects that made waves in 2021

Uverejnil používateľ | dec 25, 2021 |

2021 was a breakout year for the cryptocurrency market in many respects and most investors are absolutely thrilled that Bitcoin (BTC) price established a new all-time high of $68,789. In the same timeframe, Ether (ETH) went on a parabolic rally which saw its price gain 565% from Jan. 1 to hit a record high at $4,859 on Nov. 10.While it was a banner year for large cap cryptocurrencies, some of the biggest gains and most impactful developments came from the altcoin market where decentralized finance (DeFi) and nonfungible tokens (NFTs) rallied by thousands of percent and helped to usher in a new level of awareness and adoption for blockchain technology and cryptocurrencies. Here’s a look at five altcoin projects that made significant contributions to the cryptocurrency ecosystem in 2021. UniswapThe decentralized exchange Uniswap (UNI) has arguably had the greatest impact on the crypto ecosystem as a whole since launching in the summer of 2020, with the DEX seeing significant growth throughout 2021 as it helped facilitate the launch of thousands of new crypto projects by removing the barriers to launch that existed on centralized exchanges.Data provided by Dune Analytics shows that Uniswap has been the dominant DEX throughout the year and it has consistently seen more trading volume than all other DEXs combined. Monthly DEX volume by project. Source: Dune AnalyticsAs seen on the chart above, the volume traded on decentralized exchanges really started to ramp up in the second half of 2021 led in large part by activity on Uniswap. Throughout 2021 Uniswap led the field in development as well, with the developers behind the protocol announcing the release of Uniswap v3 in March. The v3 upgrade included multiple protocol upgrades and it built the foundation to integrate layer-two scaling solutions like Optimism and Arbitrum with Uniswap as a way to help reduce the transaction costs and processing times for users. AaveAave (AAVE) is a DeFi lending protocol that allows users to deposit their tokens and lend them out as a way to earn a yield or pledge them as collateral in order to borrow another asset.As the DeFi sector started to gain traction in early 2021, AAVE emerged as a community favorite thanks to the wide swath of crypto assets supported and the backing from some well-funded players.Over the course of the year, AAVE expanded its capabilities and reach with the release of AAVE v2 which added support for Polygon, a layer-two scaling solution, and Avalanche, which is a popular cross-chain blockchain network.Total liquidity on the AAVE protocol. Source: AaveAs a result of these added capabilities, the total liquidity available on the AAVE protocol has surpassed $25.7 billion, making AAVE the top-ranked DeFi protocol by total value locked (TVL). CurveCurve Finance is a stablecoin-focused protocol that utilizes an automated market maker to manage liquidity on the platform and across the DeFi ecosystem. Stablecoins have emerged as a foundational piece for the cryptocurrency community as a whole in 2021 because they provide sufficient liquidity for the market and a safe haven for traders seeking shelter during periods of high volatility. The growing importance that stablecoins have benefited Curve protocol and its native CRV by accelerating its integration of stablecoins into many of the top DeFi protocols, including the Yearn.Finance ecosystem and Convex Finance. Despite the fact that a significant portion of the assets locked on the Curve protocol are stablecoins, the platform now ranks as the second leading protocol in terms of TVL behind AAVE, with data from Defi Llama showing that $21.77 billion in value is now locked in Curve vaults. Total value locked on Curve. Source: Defi LlamaCurve has also integrated with many of the most active blockchain networks, including Ethereum, Avalanche, Harmony, xDAI, Polygon, Arbitrum and Fantom, which is further evidence of the protocol’s quest to be the stablecoin liquidity provider for the entire crypto market. Related: US Financial Stability Oversight Council identifies stablecoins and cryptos as threats to financial systemAxie InfinityAxie Infinity is a play-to-earn (p2e) trading and battling game that allows participants to collect, breed, raise, battle and trade NFT-based creatures called Axies. The p2e model emerged as a new fan favorite over the course of 2021 because it provides users with the ability to earn a daily income alongside their gameplay, which offers a few unique advantages when compared to the traditional pay-to-play model.Alongside the rise in popularity of Axie Infinity came a new all-time high for the platform’s native AXS token. As the token stormed to new highs, the platform generated a daily revenue of $17.55 million at its height on August 6. Axie Infinity price vs. total revenue. Source: Token TerminalAxie Infinity was also one of the earliest projects to establish the trend of migrating away from the Ethereum network because of high fees and slow transactions. Earlier in the year the project migrated to the Ronin sidechain and in November the project launched its own DEX called Katana.DogecoinDogecoin is an open-source proof of work cryptocurrency that leads the field of “meme” coins that made headlines all throughout 2021. While the project has few contributions on the technological or development front, frequent shilling from the likes of Tesla CEO Elon Musk and Shark Tank star Mark Cuban helped to push Doge into a 23,746% rally that saw the price rise fr from $0.0031 on Jan. 1 to an all-time high of $0.74 on May 8. DOGE/USDT 1-day chart. Source: TradingViewOn top of the gains seen in DOGE price, the token received increased attention after it was announced that it would be used to help fund the launch of a lunar satellite by SpaceX and the Dogecoin movement also kicked off a meme-coin rally and spawned a bevy of copy-dog projects li Shiba Inu (SHIB) and Dogelon Mars (ELON). 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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