Značka: Markets Pro

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

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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Here is how one algorithmic indicator anticipated multiple phases of FXS’ protracted rally

Frax Share (FXS) has been one of the few altcoins to pull off a dominant price performance amid the down market of late 2021 to early 2022. In the month between Dec. 14 and Jan. 14, FXS was up 128% against the U.S. dollar and 159% against Bitcoin (BTC). In addition to this impressive feat, FXS topped the charts of historically bullish trading conditions on multiple occasions throughout this period. What is behind the token’s recurring strong trading outlook?Governing a stablecoin ecosystemFXS is the utility token underpinning the Frax ecosystem — a stablecoin protocol that seeks to occupy a middle ground between entirely collateralized and entirely algorithmic stablecoins, thus harnessing the advantages of both designs.In accordance with the protocol’s highly “governance-minimized” approach to its architecture, there is a limited set of parameters that the community gets to adjust using the token. These include refreshing the rate-of-collateral ratio — i.e., the share of the protocol’s FRAX stablecoin that is stabilized either algorithmically or through collateralization — in addition to adding collateral pools and adjusting various fees.FXS’ supply is initially capped at 100 million tokens, and the protocol is designed for the token supply to be deflationary as the demand for the FRAX stablecoin rises. This mechanism could be responsible for at least some portion of FXS’ momentum in recent weeks. As Cointelegraph previously reported, FRAX added 300% to its circulating supply between late October and late December.Curve Wars winnerBecause of this link between the demand for FRAX and the corresponding shrinkage in the supply of FXS, rounds of FRAX adoption can theoretically result in waves of FXS appreciation. Evidence supporting this hypothesis can be found in several recent instances of the decentralized finance (DeFi) community adopting the stablecoin.For one, FRAX’s addition to the Convex Finance platform, where several major DeFi protocols compete for voting rights that can be leveraged to increase their respective stablecoins’ yield, preceded a major spike in the FXS token’s price.Interestingly, many of such FXS rallies, apparently inspired by major FRAX adoption events, produce recurring patterns of trading and social activity that get detected by Cointelegraph Markets Pro’s algorithmic indicator, the VORTECS™ Score. This AI-driven tool is trained to sift through tokens’ historical performance data, looking for familiar combinations of variables such as price movement, trading volume and Twitter sentiment that have systematically preceded dramatic price movements.Green means goHere, for example, is the chart of FXS’ VORTECS™ Score vs. price from the week that FRAX was added to Convex Finance. The indicator flashed an ultra-high Score more than one full day ahead of the token’s powerful price spike.VORTECS™ Score (green/gray) vs. FXS price, Dec. 17 – 24. Source: Cointelegraph Markets ProScores above 80 conventionally indicate the algorithm’s solid confidence that the conditions around the assets are historically bullish, while those beyond 90 suggest extremely high confidence. In this case, on Dec. 20, with FXS’ price remaining largely flat, the token’s VORTECS™ Score exploded, reaching an impressive value of 96 (red circle in the chart). Thirty-two hours after the peak Score, FXS’ price shot up from $13.96 to $18.27 in just 18 hours.In the weeks that followed, FXS’ VORTECS™ Score peaks kept coming ahead of price spikes. Earlier this week, two streaks of Scores above 80 foreshadowed two phases of explosive price action, including the one that saw the asset hit a weekly high of $41.72.VORTECS™ Score (green/gray) vs. FXS price, Jan. 6 – 13. Source: Cointelegraph Markets ProNot many digital assets display high VORTECS™ Scores so frequently. Furthermore, CT Markets Pro’s internal research shows that tokens can widely vary in the degree to which historically favorable conditions anticipate their actual price movement. Apparently, what is happening in the case of recent FXS rallies is that the forces driving the waves of the token’s appreciation are similar, leading to a familiar arrangement of trading and social metrics that the VORTECS™ algorithm captures so well.Of course, the relationship between historical precedent and subsequent price action is not always this smooth. Yet, in many cases, this tool — capable of parsing years’ worth of assets’ performance data — can be massively useful for crypto traders.Cointelegraph is a publisher of financial information, not an investment adviser. We do not provide personalized or individualized investment advice. Cryptocurrencies are volatile investments and carry significant risk, including the risk of permanent and total loss. Past performance is not indicative of future results. Figures and charts are correct at the time of writing or as otherwise specified. Live-tested strategies are not recommendations. Consult your financial adviser before making financial decisions.

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Anyswap, Keep3rV1, WEMIX follow Bitcoin’s move to $44K with double-digit rallies

The cryptocurrency community is back in high spirits on Jan. 12 after a majority of tokens in the top 200 flashed green following Bitcoin’s (BTC) spike to $44,000.The return of bullish momentum has come as a boon to several altcoin projects, with multiple tokens seeing gains in excess of 20%. 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 Anyswap (ANY), Keep3rV1 (KP3R) and WEMIX (WEMIX). Anyswap expands its list of supported networksGains in the altcoin market were led by Anyswap, a decentralized exchange that specializes in allowing users to transfer and swap tokens between 25 distinct networks. Data from Cointelegraph Markets Pro and TradingView shows that since falling to a low of $15.16 on Jan. 10, the price of ANY ripped 77.67% higher to a daily high of $26.93 on Jan. 12 as its 24-hour trading volume spiked 525% to $114.5 million. ANY/USDT 4-hour chart. Source: TradingViewThe sudden spike in activity and price for ANY come as the protocol recently added two new networks to its list of supported chains including a FomoETH bridge and Moonbeam, which just officially launched on Polkadot. Keep3rV1 branches out to other networksKeep3rV1 is a project focused on creating a decentralized job board designed to help projects connect with external developers that can provide specialized services. VORTECS™ data from Cointelegraph Markets Pro began to detect a bullish outlook for KP3R on Jan. 7, 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. KP3R price. Source: Cointelegraph Markets ProAs seen in the chart above, the VORTECS™ Score for KP3R climbed into the green zone on Jan. 7 and hit a high of 80 roughly 79 hours before the price rallied 79.64% over the next two days. The bullish move higher for KP3R comes following a tease released by the project indicating that KP3R will soon have cross-chain functionality between Ethereum (ETH), Fantom (FTM) and layer-two solution Optimism. Related: QuickSwap founder: L2s are the path to mass adoptionWEMIX lists at UpbitWEMIX is a global blockchain gaming platform developed by Wemade Tree that is designed specifically for gaming DApps and includes a marketplace for digital assets and nonfungible tokens (NFTs). Data from Cointelegraph Markets Pro and CoinGecko shows that after sliding to a low of $3.96 on Jan. 10, the price of WEMIX rebounded 106% to a daily high at $8.16 on Jan. 12 as its 24-hour trading volume spiked to $1.2 billion. WEMIX/USD 1-hour chart. Source: CoinGeckoThe surge in interest and trading volume for WEMIX comes as the token listed on the popular Korean cryptocurrency exchange Upbit on Jan. 10 and announced the details for the next WEMIX NFT auction drop. The overall cryptocurrency market cap now stands at $2.073 trillion and Bitcoin’s dominance rate is 39.8%.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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Even after the pullback, this crypto trading algo’s $100 bag is now worth $20,673

Exactly one year ago, on Jan. 9, 2021, Cointelegraph launched its subscription-based data intelligence service, Markets Pro. On that day, Bitcoin (BTC) was trading at around $40,200, and today’s price of $41,800 marks a year-to-year increase of 4%. An automated testing strategy based on Markets Pro’s key indicator, the VORTECS™ Score, yielded a 20,573% return on investment over the same period. Here is what it means for retail traders like you and me.How can I get my 20,000% a year?The short answer is – you can’t. Nor can any other human. But it doesn’t mean that crypto investors cannot massively enhance their altcoin trading game by using the same principles that underlie this eye-popping ROI.The figure in the headline comes from live testing of various VORTECS™-based trading strategies that kicked off on the day of the platform’s launch. Here is how it works.The VORTECS™ Score is an AI-powered trading indicator whose job is to sift through each digital asset’s past performance and identify multi-dimensional combinations of trading and social sentiment metrics that are historically bullish or bearish. For example, consider a hypothetical situation where each time Solana (SOL) sees an extra 150% of positive tweet mentions combined with a 20% to 30% in trading volume against a flat price, its price spikes massively within the next two to three days.Upon detecting a historically bullish arrangement like this one in, say, SOL’s real-time data, the algorithm will assign the asset a strong VORTECS™ Score. The conventional cutoff for bullishness is 80, and the more confident the model is that the outlook is favorable, the higher the Score.In order to get a sense of how the model performs, starting from day one the Markets Pro team live-tested a number of hypothetical trading strategies based on “buying” all assets that cross a certain VORTECS™ Score and then “selling” them after a fixed amount of time.These transactions were executed in a spreadsheet rather than an exchange (hence no fees to eat off the gains), 24/7, and involved complex algorithmic rebalancing to ensure that at any given moment all assets that hit a reference Score are held in equal shares in the portfolio. In short, following these strategies was something only a computer could do.The winning strategy, “Buy 80, Sell 24 hours” entailed buying every asset that reached the Score of 80 and selling it exactly 24 hours later. This algorithm yielded a hypothetical 20,573% of gains over one year. Even among other humanly impossible strategies, it is an outlier: the second-best one, “Buy 80, Sell 12 hours,” generated 13,137%, and number three, “Buy 80, Sell 48 hours,” yielded a “mere” 5,747%.Down to earthWhat these insane numbers show is that the returns that high- VORTECS™ assets generated compounded nicely over time. But what’s the use if real-life traders could not replicate the compounding strategy? A more practical way to look at the VORTECS™ model’s performance is through average returns after high Scores. No fancy rebalancing, just a plain average price change that all high-scoring tokens demonstrated X hours after reaching the Score of Y. Here are the numbers:These look much more modest, don’t they? However, if you think of it, the picture that these averages paint is no less powerful than the mind-blowing hypothetical annual returns. The table demonstrates robust positive price dynamics after high Scores, averaging across all types of assets and in all market situations that occurred throughout the year.The trend is unmistakable: tokens that hit VORTECS™ Scores of 80, 85, and 90, tend to appreciate within the next 168 hours. Higher Scores are associated with greater gains: the algorithm’s stronger confidence in the bullishness of the observed conditions, indeed, comes with greater yields (although higher Scores are also rarer). Another important factor is time: the longer the wait after a reference threshold is reached, the greater the average ROI.GET MARKETS PRO RIGHT NOWIn this sense, rather than trying to follow the complex “Buy 80, Sell 24 hours” algorithmic strategy (which is, again, a futile exercise), real-life traders could maximize their fortunes by buying at higher Scores and holding for longer times.Varying predictabilityA separate stream of internal Markets Pro research looked at whether some coins are more prone than others to exhibit historically bullish trading conditions before dramatic price increases. This turned out to be the case, with tokens like AXS, MATIC, AAVE and LUNA leading the pack in terms of the most reliable positive price dynamics following historically favorable setups. Overall, the majority of frequent high-VORTECS™ performers delivered robust positive returns.After a full year in operation, these disparate pieces of quantitative evidence – the mind-bending ROIs of algorithmic live-testing strategies, high-VORTECS™ assets’ sound average gains, and individual coins’ steady average returns after high Scores – present a compelling case for the utility of the “history rhymes” approach to crypto trading.Obviously, a favorable historic outlook, captured by a strong VORTECS™ Score, is never a guarantee of an impending rally. Yet, an extra pair of algorithmic eyes capable of seeing through and comparing across billions of historical data points to alert you of digital assets’ bullish setups before they materialize can be an incredibly powerful addition to any trader’s toolkit.Cointelegraph is a publisher of financial information, not an investment adviser. We do not provide personalized or individualized investment advice. Cryptocurrencies are volatile investments and carry significant risk including the risk of permanent and total loss. Past performance is not indicative of future results. Figures and charts are correct at the time of writing or as otherwise specified. Live-tested strategies are not recommendations. Consult your financial advisor before making financial decisions.

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Here are the most predictable tokens of 2021 – for those who knew where to look

Digital assets’ past performance is never a guarantee of future price movement. There are never two identical situations in the crypto marketplace, so even historically similar patterns of a token’s behavior can be followed by starkly different price action charts.Still, crypto assets’ individual history of price action often rhymes, giving those who can ready this history right a massive edge over other traders. And, importantly, some tokens are much more likely than others to exhibit recurring behavior, which makes their bullish setups more recognizable ahead of time.Cointelegraph Markets Pro, a subscription-based data intelligence platform whose job is to search for regularities in crypto assets’ past trading behavior and alert traders to historically bullish conditions around individual assets, has been live for almost an entire year now. Based on a year’s worth of tokens’ performance data, here are the assets that exhibited historically bullish trading conditions most frequently, along with their subsequent price dynamics.Top 20 digital assets by the number of days with VORTECS™ Scores of 80, 85, and 90. Source: Cointelegraph Markets ProThe chart shows top 20 digital assets by the overall number of instances when they hit a VORTECS™ Score of 80. The VORTECS™ Score is an algorithmic indicator that considers a host of variables around each coin — including market outlook, price movement, social sentiment, and trading activity — to assess whether its present conditions are historically bullish, neutral, or bearish. Conventionally, VORTECS™ Scores above 80 are considered confidently bullish, while 90 and above indicate the model’s extreme confidence in the asset’s tremendously favorable outlook.Despite metaverse coins – AXS and SAND – occupying spots number one and three on this list, no single digital asset sector dominates the chart, with layer-one and DeFi tokens also widely represented in the top 20. It appears from this data that tokens’ likelihood to exhibit historically favorable trading patterns does not depend on asset class.For example, AXS has gone above the Score of 80 on 75 occasions, while layer-one AVAX recorded 42 instances of a historically favorable outlook, and DeFi token COTI sported 40 high-VORTECS™ days.Average gains generated by top 20 high-VORTECS™ assets 24, 48, and 96 hours after reaching the Scores of 80 and 90. Source: Cointelegraph Markets ProThe second chart presents the average gains that frequent top VORTECS™ performers yielded 24, 48, and 96 hours after hitting the Scores of 80 and 90. There are few bars pointing below zero, but the majority show solid positive returns, meaning that most assets consistently appreciated after demonstrating strong bullish conditions. Here’s AVAX, one of the top performers:24 hours after Score 80: Average gain 2.5%48 hours after Score 80: Average gain 5.3%96 hours after Score 80: Average gain 10.4%24 hours after Score 90: Average gain 10.8%48 hours after Score 90: Average gain 16.0%96 hours after Score 90: Average gain 19.1%Other high scorers boast even more impressive returns on certain timeframes. For one, LUNA did exceptionally well 48 and 96 hours after achieving a VORTECS™ Score of 90, yielding on average 31.7% and 40.9%, respectively.GET MARKETS PRO RIGHT NOWGranted, some assets behaved less consistently, with average returns bars pointing both above and below zero, while others, like AAVE, LRC, and OGN tended to lose value after flashing historically bullish patterns.Nevertheless, the performance of most of the featured assets is overwhelmingly positive, beating the market by a wide margin. This trend is observed across hundreds of VORTECS™ Score instances and remains robust over the period of 12 months that included stints of bull, bear, and sideways market. It might not be a universal law, but it is evident that there is a sizable group of well-performing crypto tokens whose history often rhymes, much to the savvy traders’ delight.Cointelegraph is a publisher of financial information, not an investment adviser. We do not provide personalized or individualized investment advice. Cryptocurrencies are volatile investments and carry significant risk including the risk of permanent and total loss. Past performance is not indicative of future results. Figures and charts are correct at the time of writing or as otherwise specified. Live-tested strategies are not recommendations. Consult your financial advisor before making financial decisions.

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3 reasons why Cosmos (ATOM) price is near a new all-time high

Blockchain network interoperability is shaping up to be one of the main themes for the cryptocurrency ecosystem in 2022. New users are continuing to onboard into the growing world of crypto while both new and established projects search for the chain that will best serve the needs of their protocol and community. One project that has 2022 off to a bullish start thanks to its focus on facilitating the communication between separate networks is Cosmos (ATOM). This project bills itself as “the internet of blockchains” and seeks to facilitate the development of an interconnected decentralized economy. Data from Cointelegraph Markets Pro and TradingView shows that since hitting a low of $25.06 on Dec. 30, the price of ATOM has rallied 75% to hit a daily high at $43.98 on Jan. 4 as its 24-hour trading volume spiked to $2.54 billion. ATOM/USDT 1-day chart. Source: TradingViewThree reasons for the surging price of ATOM include the launch of a cross-chain bridge which makes the protocol Ethereum Virtual Machine (EVM) compatible and an upcoming Theta upgrade which will rapidly expand the ecosystem of connected chains and applications.Cosmos nears EVM compatibilityThe most significant development that has provided a boost to ATOM is the rollout of Evmos, an EVM-compatible protocol that will allows assets and projects that operate on the Ethereum (ETH) network to migrate over to the Cosmos ecosystem. @EvmosOrg is an application-agnostic @cosmos chain ⚛️@EvmosOrg will be interoperable with @Ethereum, EVM-compatible environments, and other chains via IBC, making it easy to move value across chains ⛓Learn about @EvmosOrg network architecture https://t.co/VfDiYxVkte pic.twitter.com/20iMai6B3Z— Figment (@Figment_io) December 7, 2021Up to this point, there had not been a way for Ethereum-based projects to interact with the Cosmos ecosystem. This significantly limited the number of projects and tokens that could interact with DeFi and NFT projects in the Cosmos ecosystem.Gravity Bridge, which launched on Dec. 15, is another project dedicated to facilitating the bridging of assets between Ethereum and Cosmos and currently it operates as a standalone chain. Plans to migrate to the Cosmos Hub in early 2022 are currently underway.Preparing for the Theta upgradeA second development that has put wind in the sails of Cosmos is the protocol’s upcoming Theta upgrade which is scheduled for March 31. Some of the new features included in the upgrade include the addition of meta-transactions, where transactions can be submitted by separate accounts that receive tips and the introduction of inter-chain accounts which allow users to manage accounts across multiple blockchains. Another feature is liquid staking, a system where users utilize the value of staked assets in other parts of the Cosmos ecosystem. The Theta upgrade also includes NFT modules, which enable the simple management of NFT identifiers, their owners and associated data.Related: ROSE gains 54% in a week as Oasis Network ecosystem expandsExpanding ecosystems are typically bullishA third reason for the bullish momentum of ATOM is ecosystem’s expansion to 28 live, interconnected chains that total more than $68 billion in total value. Cosmos is the only cross-chain ecosystem in the world that uses an interoperability standard.#CosmosFactshttps://t.co/HwBEUuchyP pic.twitter.com/9b9YRyLfVS— Cosmos – Internet of Blockchains ⚛️ (@cosmos) December 30, 2021

Some of the more established chains that have joined the Cosmos ecosystem include the Binance Smart Chain, Terra (LUNA) and Crypto.com (CRO), while the biggest projects using Cosmos’ software development kit (SDK) include Osmosis (OSMO), Secret (SCRT), Oasis Network (ROSE) and Kava (KAVA). As the bridge protocols linking Cosmos with other EVM-compatible networks are established, the number of chains connected to the Cosmos Hub is likely to increase. This will bring an increase in the total value of the ecosystem along with it. VORTECS™ data from Cointelegraph Markets Pro began to detect a bullish outlook for ATOM on Dec. 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. ATOM price. Source: Cointelegraph Markets ProAs seen in the chart above, the VORTECS™ Score for ATOM began to pick up on Dec. 28 and climbed to a high of 81 just as the price began to increase 67% over the next six 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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Altcoins turn bullish even as Bitcoin price slips below $46K again

The mood across the cryptocurrency is one of growing anticipation as the price of Bitcoin (BTC) continues to trade just below $47,000. The sideways price action has analysts warning that an “explosive volatility period” is rapidly approaching but few have been willing to predict the direction of the breakout. While Bitcoin price compresses, the altcoin market has come alive and multiple tokens are posting notable gains, especially in the DeFi cohort.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 Everest (ID), PAC Protocol (PAC) and Ravencoin. Everest expands its interoperability Everest is a blockchain company with a focus on removing barriers to public services and enhancing economic inclusion through the creation of a device-free, global digital transaction protocol with built-in identity features. VORTECS™ data from Cointelegraph Markets Pro began to detect a bullish outlook for ID on Dec. 30, 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 (grey) vs. ID price. Source: Cointelegraph Markets ProAs seen in the chart above, the VORTECS™ Score for ID began to pick up on Dec. 30 and reached a high score of 70 around 44 hours before the price began to increase by 115% over the next three days. The climbing price of ID comes as the Everest project is in the process of rolling out bridges connecting EverChain with multiple blockchain networks including Polygon (MATIC), Binance Smart Chain (BSC), Avalanche (AVAX) and Solana (SOL). PAC Protocol rolls out data storage accountsThe PAC Procotol, a next-generation blockchain masternode network that has more than 18,000 active nodes, saw its token price increase 36% over the past 24-hours. Data from Cointelegraph Markets Pro and CoinGecko shows that after hitting a low of $0.002 on Dec. 31, the price of PAC climbed 79% to hit a daily high at $0.00359 on Jan. 3 as its 24-hour trading volume spiked by 50%. PAC/USD 1-hour chart. Source: CoinGeckoThe building momentum for PAC comes as the project has begun rolling out the beta version of its yanDNA™ data storage accounts and is offering 5 gigabytes of free storage for early adopters. Related: Third-largest whale celebrates Bitcoin’s birthday with 456 BTC buyRavencoin celebrates its 4 year anniversaryRavencoin, a blockchain network specifically designed to handle the transfer of assets from one party to another efficiently, has seen its price spike 34% over the past 24-hours. VORTECS™ data from Cointelegraph Markets Pro began to detect a bullish outlook for ID on Dec. 30, prior to the recent price rise. VORTECS™ Score (green) vs. RVN price. Source: Cointelegraph Markets ProAs seen in the chart above, the VORTECS™ Score for RVN began to pick up on Dec. 29 and climbed to a high of 87 on Dec. 30, around 15 hours before the price increased 45.5% over the next four days. The bullish move for RVN comes as the project is celebrating the four-year anniversary of its official launch and now looks to pivot to developing the “next generation of financial technology for Wall Street on Ravencoin” while also expanding its NFT capabilities. The overall cryptocurrency market cap now stands at $2.253 trillion and Bitcoin’s dominance rate is 39.4%.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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Frax Share, Swipe and Gnosis lead the altcoin market as Bitcoin recovers to $47.5k

Volatility is once again the major theme across the cryptocurrency market on Dec. 30 as the price of Bitcoin (BTC) bounced back from an early morning dip below $46,000 with bulls now battling bears for control of support near $47,500. The altcoin market has likewise been a mixed bag of results on Dec. 30, with many of the coins in the top 200 seeing slight losses while the top performers have posted double-digit gains thanks to major protocol developments and acquisitions. 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 Frax Share (FXS), Swipe (SXP) and Gnosis (GNO). Frax Share increases its stablecoin supplyFrax Share is the governance token of the Frax protocol, a fractional algorithmic stablecoin system designed to provide scalable and decentralized algorithmic money.VORTECS™ data from Cointelegraph Markets Pro began to detect a bullish outlook for FXS on Dec. 28, 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. FXS price. Source: Cointelegraph Markets ProAs seen in the chart above, the VORTECS™ Score for FXS climbed into the green zone on Dec. 27 and hit a high of 86 on Dec. 28, around 14 hours before the price increased 57% over the next two days. Gains for FXS token align with the growing adoption of the Frax stablecoin. The circulating supply of FRAX increased by more than 300% in the past two months to its current supply of $1.74 billion. Swipe gets acquired by BinanceAnother project that saw its price spike over the past 24 hours is Swipe, a platform that is developing card payment infrastructure for the cryptocurrency economy. Data from Cointelegraph Markets Pro and TradingView shows that, after hitting a low of $1.46 on Dec. 29, the price of SXP surged 38% to a high at $2.02 on Dec. 30 as its 24-hour trading volume spiked 951% to $683 million. SXP/USDT 4-hour chart. Source: TradingViewThe sudden burst in trading volume for SXP came after it was revealed that crypto exchange Binance was finalizing the acquisition of Swipe and rebranding it to Solar. Related: Binance to finalize acquisition of Swipe, paving for CEO exitGnosis releases its zodiac bridgeGnosis, a decentralized prediction market built on the Ethereum (ETH) network, saw its price increase 38% on Dec. 30. VORTECS™ data from Cointelegraph Markets Pro began to detect a bullish outlook for GNO on Dec. 27, prior to the recent price rise. VORTECS™ Score (green) vs. GNO price. Source: Cointelegraph Markets ProAs seen in the chart above, the VORTECS™ Score for GNO hit a high of 77 on Dec. 27, around 35 hours before the price increased 38% over the next day.The building momentum for GNO followed the introduction of the zodiac bridge module for the Gnosis ecosystem, which gives decentralized autonomous organizations (DAOs) the ability to control assets on separate Ethereum virtual machine-compatible chains. The overall cryptocurrency market cap now stands at $2.233 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

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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Overheated DOGE: 5 times crypto traders were warned before their assets tanked

Everybody loves a crypto bull market, but every green wave inevitably gives way to periods of sideways or downward movement.Skilled traders know that these phases of the market cycle can be rife with profit opportunities, too. Anticipating not only a digital asset’s upward price movements, but downturns and corrections can be useful when deciding on when to exit a position and lock in gains, as well helping to add toprofits by shorting crypto assets whose prices decline.In addition to a keen eye and common sense, anticipating price drops can be aided by data intelligence tools. One AI-driven indicator that can help investors see the signs of an upcoming dip early is the VORTECS™ Score, exclusively available to the members of Cointelegraph Markets Pro.Its job is to sift through years’ worth of historical data and identify whether the combination of market and social conditions around each asset looks like those that preceded sharp upward or downward price action in the past.At any given moment, a cryptocurrency token’s high VORTECS™ Score means that its outlook is historically bullish; but low scores below 30 indicate that in the past, the observed patterns were often followed by price drops.Red VORTECS™ Scores are much rarer than dark-green ones. The most common scenario where such scores can be observed is when crypto assets see flash rallies, get overbought, and then see massive corrections.Here are five conspicuous instances of red VORTECS™ Scores flashing on crypto assets before their prices tanked.DOGE: Memecoin gets overheatedVORTECS™ Score (green/red) vs. DOGE price, Apr. 8 – 15. Source: Cointelegraph Markets ProDogecoin (DOGE) presented an instance of very high and very low VORTECS™ Scores following each other closely in the week of Apr. 8.The asset’s score went above 80 on the morning of Apr. 13, when the price curve was still flat at around $0.073 (first red circle). Apparently, the model has sensed a familiar arrangement of celebrity tweets and rising trading volume. Less than 12 hours later, the price line followed suit, pumping all the way to $0.141.Even before the price reached its peak value, however, the algorithm signaled that historically Dogecoin’s rallies were followed by rebounds, as the VORTECS™ Score dipped into the red area below 30. A correction to $0.110 followed in several hours.While the VORTECS™ Score is not designed to tell investors when to go long or short, it can provide a useful indication of historically bullish or bearish conditions for a particular asset — information that can be profitably incorporated into a trading strategy.COTI: Massive spike, hard comedownVORTECS™ Score (green/red) vs. COTI price, Aug. 21 – 27. Source: Cointelegraph Markets ProFollowing a sharp hike from $0.29 to $0.45 within an hour that occurred on Aug. 26, the price of COTI began to succumb to a correction.It quickly dropped to $0.37 and then attempted to gain upside traction again as it rose to $0.42. At this point, the VORTECS™ algorithm recognized similarities between the observed conditions and COTI’s past price corrections, lighting up a red score (red circle in the graph) when the price was still on its way up. The flash was well-placed, within two hours, COTI reversed its course and fell back to around $0.35.NEAR: A dip or second leg up?VORTECS™ Score (green/red) vs. NEAR price, Sept. 5 – 12. Source: Cointelegraph Markets ProBetween Sept. 7 and 9, NEAR Protocol soared from $6.00 to $11.58 within three days. The question on all crypto traders’ minds was: Where will NEAR go next? Several hours after the price peak, the token’s VORTECS™ Score dipped below 30 (red circle in the graph), informing Markets Pro subscribers that historical precedent suggested an imminent decline rather than another leg of the rally.NEAR’s price was at around $11.00 and still going up when its score flashed red; 36 hours later, it was down to $9.00NMR: Red Score at a price peakVORTECS™ Score (green/red) vs. NMR price, Apr. 2 – 8. Source: Cointelegraph Markets ProNumeraire (NMR) was doing great on April 4 and 5, and its price was still headed toward the peak of $78.07 when its VORTECS™ Score dropped below 30 (red circle in the graph). This suggested that in the past NMR’s similar rallies were followed by the price cooling off quickly. Sure enough, the correction kicked in in less than two hours after the lowest Score, NMR’s price sliding back to around $63.00 within the following two days.STX: Green before price rises, red before it dropsVORTECS™ Score (green/red) vs. STX price, Oct. 7 – 14. Source: Cointelegraph Markets ProIn the week of Oct. 8, Stacks (STX) managed to light up both an ultra-low and ultra-high VORTECS™ Scores, all within two consecutive days. On Oct. 9-11, STX had seen a strong rally from $1.44 to $2.29, after which the token’s price began to decline.At that point, the VORTECS™ algorithm recognized a combination of factors that in the past preceded extended corrections, flashing a red score (first circle in the chart). Indeed, STX soon embarked on a downward trajectory for the following 30 hours, dipping all the way back to $1.86.However, in the middle of the pullback, the coin’s VORTECS™ Score went up sharply, reaching a high of 88 against a still-declining price. Apparently, market and social conditions around the coin flipped bullish again as in the past similar massive corrections were followed by even greater upsides.Sure enough, 16 hours after the peak VORTECS™ Score of the week had been registered, STX’s rally resumed toward the week’s high price at $2.39.Cointelegraph Markets Pro’s VORTECS™ Score is available to members here.Disclaimer. Cointelegraph is a publisher of financial information, not an investment adviser. We do not provide personalized or individualized investment advice. Cryptocurrencies are volatile investments and carry significant risk including the risk of permanent and total loss. Past performance is not indicative of future results. Figures and charts are correct at the time of writing or as otherwise specified. Live-tested strategies are not recommendations. Consult your financial advisor before making financial decisions.

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YFI, HXRO and AR post gains even as Bitcoin price dips to $45.5K

Bitcoin (BTC) bulls took another beating on Dec. 17 as a midday onslaught dropped the price to $45,500. The price did manage a quick bounce back to $47,000 but sweeping a new daily low could be a sign that additional downside is in store.Amid the wider market downturn, several altcoins provided weary traders with a source of refuge as token buybacks and increased network activity helped bolster their prices and provide shelter from the storm. 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 Yearn.finance (YFI), Hxro (HXRO) and Arweave (AR). YFI benefits from token buybacksYearn.finance is a decentralized finance (DeFi) aggregator service that utilizes automation to allow investors to maximize their profits from yield farming. Data from Cointelegraph Markets Pro and TradingView shows that after hitting a low of $18,844 on Dec. 15, the price of YFI shot up 56.48% to a daily high of $29,488 on Dec. 17 as its 24-hour trading volume spiked 220% to $844 million. YFI/USDT 4-hour chart. Source: TradingViewThe sudden surge higher in YFI comes as the project revealed that it has been buying back tokens since November after the community voted to improve the tokenomics for YFI. To date, the protocol has purchased 282.4 YFI at an average price of $26,651 and has indicated that further buybacks will be conducted in the future using funds from the project’s $45 million treasury. Hxro features on the TD Ameritrade NetworkHxro is a cryptocurrency options trading protocol that operates on the Ethereum (ETH) network and offers users access to popular cryptos including BTC, Ether, Dogecoin (DOGE) and Solana (SOL). VORTECS™ data from Cointelegraph Markets Pro began to detect a bullish outlook for HXRO on Dec. 14, 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. HXRO price. Source: Cointelegraph Markets ProAs seen in the chart above, the VORTECS™ Score for HXRO elevated into the green zone on Dec. 14 and reached a high of 77 around 45 hours before the price increased 13.2% over the next day. The boost in HXRO price comes after the co-founder of Dan Gunsberg was featured on the TD Ameritrade Network’s Market on Close podcast discussing the future of Bitcoin and the evolution of the wider cryptocurrency ecosystem. Related: New survey reveals 83% of millennial millionaires now own cryptoArweave sets a new daily transaction recordArweave is a decentralized storage network designed to be the first truly permanent information storage network that is backed by a sustainable endowment. VORTECS™ data from Cointelegraph Markets Pro began to detect a bullish outlook for AR on Dec. 14, prior to the recent price rise. VORTECS™ Score (green) vs. AR price. Source: Cointelegraph Markets ProAs seen in the chart above, the VORTECS™ Score for AR climbed into the dark green zone on Dec. 14 and hit a high of 77 around sixteen hours before the price increased 40.78% over the next two days. The move higher in the price of AR comes as the transaction count on the protocol’s Bundlr Network hit a new all-time high of 2.19 million transactions which marked a 50x increase in the maximum daily transactions from less than a year ago. The overall cryptocurrency market cap now stands at $2.192 trillion and Bitcoin’s dominance rate is 40.6%.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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ECOMI, Aragon and Ramp breakout after Bitcoin price pushes above $49K

Cryptocurrency prices and investor sentiment reversed course on Dec. 15 after Federal Reserve chairman Jerome Powell confirmed the bank’s plan to hike interest rates in 2022 and slow down the bond purchasing program that had been in play since the emergence of the coronavirus in March 2020.Following the announcement, Bitcoin (BTC) price tacked on a 1.65% gain, bringing the price above $49,000 and Ether trekked back above the $4,000 mark. Altcoins followed suit with their usual double-digit gains and for the moment, it appears as if bulls have taken back control of the market.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 ECOMI (OMI), Aragon (ANT) and RAMP. ECOMI migrates to Immutable ECOMI is a technology company focused on building a blockchain-based digital collectibles marketplace where users can buy and share nonfungible tokens (NFTs) across the social network service using the project’s native OMI token as a medium of exchange. VORTECS™ data from Cointelegraph Markets Pro began to detect a bullish outlook for OMI on Dec. 1, 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. OMI price. Source: Cointelegraph Markets ProAs seen in the chart above, the VORTECS™ Score for OMI climbed into the green zone and reached a high of 81 on Dec. 1, around 96 hours before the price began to increase 39% over the next ten days. The building momentum for OMI comes as the ECOMI ecosystem migrates to Immutable, an Ethereum (ETH) scaling solution specifically designed for NFT projects. Aragon hosts a DAO hackathonAragon Ethereum network-based protocol that supports decentralized autonomous organizations (DAOs) developing governance structures to encourage community engagement.VORTECS™ data from Cointelegraph Markets Pro began to detect a bullish outlook for ANT on Dec. 12, 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. 12 and reached a high of 70 around two hours before the price began to increase 60% over the next two days. The rally in ANT price is taking place at the same time as a DAO global hackathon aims to attract developers to the Aragon ecosystem and there are rumors that the DAOpunks NFT project conduct an airdrop to ANT holders. Related: Bitcoin sheds ‘dumb money’ as retail buys most BTC since March 2020 crashRAMP benefits from liquidity mining incentivesRAMP is a multi-chain decentralized finance (DeFi) protocol that helps investors become more capital efficient. Data from Cointelegraph Markets Pro and TradingView shows that after hitting a low of $0.179 on Dec. 14, the price of RAMP spiked 52.56% to a daily high at $0.274 on Dec. 15 as its 24-hour trading volume surged 800% to $54.2 million. RAMP/USDT 4-hour chart. Source: TradingViewThe price spike for RAMP came after the launch of a liquidity mining incentive program resulted in a sharp uptick in the total value locked in the protocol. Currently there is $63.3 million invested across Ethereum, Polygon and Binance Smart Chain. The overall cryptocurrency market cap now stands at $2.126 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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