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Litecoin Price Prediction: LTC/USD Dares Breaking Lower Range-line

Litecoin Market Dares Breaking Lower – June 8It is currently observed at a closer viewing point that the LTC/USD market dares breaking lower the range-line […]

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Litecoin Market Dares Breaking Lower – June 8
It is currently observed at a closer viewing point that the LTC/USD market dares breaking lower the range-line as the price has been fluctuating around the value of 155 at a rate of -4.24 percent.

Market Dares Breaking Lower: LTC Market
Key Levels:
Resistance levels: $200, $250, $300
Support levels: $120, $110, $100

LTC/USD – Daily Chart
Today’s trading session as depicted on the LTC/USD daily chart that price dares now dares breaking lower range-line as the level of $150 has briefly traded past to the south initially. A bearish candlestick is in the forming motion. The 50-day SMA indicator SMA has been intercepted from the top by the 14-day SMA trend-line as the bearish remains crossed downward against the SMAs’. The Stochastic Oscillators have crossed the lines from the overbought region to point southbound briefly past range 40 suggesting a downside pressure is the offing.

Breaking lower past the range-line, will the ETH/USD market see a huge drawdown?

Breaking lower past the range-line, it has now been noticed by ongoing selling pressure in the ETH/USD  economy that a southward move Is imminent in the near session. A sudden pull-up from the lower range point of $150 will most likely push back the market into another trial trading situation of a bullish trend returning. However, if such a presumed scenario doesn’t have a volatile move, the range-bound may tend to continue.

As both the bearish and the 14-day SMA trend lines remain placed at the immediate resistance and the upper range-line of $200 below the 50-day SMA indicator portends that some degree of downward pressure is still somewhat in the market operations. Bears ought to have taken the advantage of the situation to have placed a sell order around the upper range-line. But, they now have to be wary of their position around the lower range-line.

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LTC/BTC Price Analysis

Comparing the market moving-capacity between Litecoin and Bitcoin, the base crypto yet possesses a higher length as paired with the most valuable counter crypto to some extent. A line of variant higher lows is kept occurring on the buy signal side of the bigger SMA indicator. The 14-day SMA and the 50-day SMA trend lines are pointing toward the east direction to validate an ongoing range trading outlook of the cryptos. The Stochastic Oscillators have slightly crossed downward from the overbought region to point to the south near over range 40. Going by that, the base crypto is on the verge of breaking the lower range zone as placed against the counter cryptocurrency.

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Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://insidebitcoins.com/news/litecoin-price-prediction-ltc-usd-dares-breaking-lower-range-line

Blockchain

Kwenta DeFi Exchange Strives for Independence With New Token

The Synthetix-based Kwenta exchange is branching out on its own as it strives to become the leading decentralized finance (DeFi) trading hub.

The post Kwenta DeFi Exchange Strives for Independence With New Token appeared first on BeInCrypto.

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The Synthetix-based Kwenta exchange is branching out on its own as it strives to become the leading decentralized finance (DeFi) trading hub.

Sponsored
Sponsored

In a blog post on June 15, the exchange has explained its motivations for this independence effort and what it means for both Synthetix stakers and Kwenta users.

Kwenta is a rebranded successor to the synth trading interface Synthetix.Exchange, which is powered by the Synthetix DeFi platform.

Sponsored
Sponsored

To help it reach its goal, Kwenta will be launching its own KWENTA token. The new token will have two primary uses according to the blog post. This first use case will be to participate in governance and the second is for funding and long-term profitability.

The path to DeFi independence

Kwenta essentially and exchange for synthetic assets whereas Synthetix is the underlying protocol for generating them. Due to confusion with branding, Synthetix worked with the community to create Kwenta. It describes itself as an interface optimized for zero slippage synth trading.

Synthetix core developers have been working on implementing Layer 2 scaling solutions to the protocol among other things. So Kwenta was essentially lacking in development resources preventing it from reaching its true potential.

“The solution we’ve found is to formalize Kwenta as an independent project operating outside of the Synthetix core contributors.”

The announcement explained that the Kwenta token will be used to bootstrap the community and fuel an early development team. This will be able to lead it towards becoming a self-sustaining platform.

The new token will complement the Synthetix community, it explained, adding value to Kwenta on its path to independence.

There were no details on official launch date other than “We’re aiming for summer” for the synthetic asset exchange.

SNX token update

Synthetix’s native SNX token has gained 11% in the past 24 hours. SNX had reclaimed the psychological $10 price level during Tuesday morning’s Asian trading session.

It has taken a big hit with the rest of the DeFi tokens during the market slump dropping 60% from its mid-May high of $25.

In terms of total value locked, Synthetix has around $2 billion according to DappRadar. This is a 50% decline from its peak in February.

The little known Kwenta exchange is not listed on any of the major analytics websites, but its big independence drive and token launch could change this.

Disclaimer

All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.

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Martin has been covering the latest developments on cyber security and infotech for two decades. He has previous trading experience and has been actively covering the blockchain and crypto industry since 2017.

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Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://beincrypto.com/kwenta-synthetix-defi-exchange-independence-new-token/

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Blockchain

Kwenta DeFi Exchange Strives for Independence With New Token

The Synthetix-based Kwenta exchange is branching out on its own as it strives to become the leading decentralized finance (DeFi) trading hub.

The post Kwenta DeFi Exchange Strives for Independence With New Token appeared first on BeInCrypto.

Published

on

The Synthetix-based Kwenta exchange is branching out on its own as it strives to become the leading decentralized finance (DeFi) trading hub.

Sponsored
Sponsored

In a blog post on June 15, the exchange has explained its motivations for this independence effort and what it means for both Synthetix stakers and Kwenta users.

Kwenta is a rebranded successor to the synth trading interface Synthetix.Exchange, which is powered by the Synthetix DeFi platform.

Sponsored
Sponsored

To help it reach its goal, Kwenta will be launching its own KWENTA token. The new token will have two primary uses according to the blog post. This first use case will be to participate in governance and the second is for funding and long-term profitability.

The path to DeFi independence

Kwenta essentially and exchange for synthetic assets whereas Synthetix is the underlying protocol for generating them. Due to confusion with branding, Synthetix worked with the community to create Kwenta. It describes itself as an interface optimized for zero slippage synth trading.

Synthetix core developers have been working on implementing Layer 2 scaling solutions to the protocol among other things. So Kwenta was essentially lacking in development resources preventing it from reaching its true potential.

“The solution we’ve found is to formalize Kwenta as an independent project operating outside of the Synthetix core contributors.”

The announcement explained that the Kwenta token will be used to bootstrap the community and fuel an early development team. This will be able to lead it towards becoming a self-sustaining platform.

The new token will complement the Synthetix community, it explained, adding value to Kwenta on its path to independence.

There were no details on official launch date other than “We’re aiming for summer” for the synthetic asset exchange.

SNX token update

Synthetix’s native SNX token has gained 11% in the past 24 hours. SNX had reclaimed the psychological $10 price level during Tuesday morning’s Asian trading session.

It has taken a big hit with the rest of the DeFi tokens during the market slump dropping 60% from its mid-May high of $25.

In terms of total value locked, Synthetix has around $2 billion according to DappRadar. This is a 50% decline from its peak in February.

The little known Kwenta exchange is not listed on any of the major analytics websites, but its big independence drive and token launch could change this.

Disclaimer

All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.

Share Article

Martin has been covering the latest developments on cyber security and infotech for two decades. He has previous trading experience and has been actively covering the blockchain and crypto industry since 2017.

Follow Author

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://beincrypto.com/kwenta-synthetix-defi-exchange-independence-new-token/

Continue Reading

Blockchain

Kwenta DeFi Exchange Strives for Independence With New Token

The Synthetix-based Kwenta exchange is branching out on its own as it strives to become the leading decentralized finance (DeFi) trading hub.

The post Kwenta DeFi Exchange Strives for Independence With New Token appeared first on BeInCrypto.

Published

on

The Synthetix-based Kwenta exchange is branching out on its own as it strives to become the leading decentralized finance (DeFi) trading hub.

Sponsored
Sponsored

In a blog post on June 15, the exchange has explained its motivations for this independence effort and what it means for both Synthetix stakers and Kwenta users.

Kwenta is a rebranded successor to the synth trading interface Synthetix.Exchange, which is powered by the Synthetix DeFi platform.

Sponsored
Sponsored

To help it reach its goal, Kwenta will be launching its own KWENTA token. The new token will have two primary uses according to the blog post. This first use case will be to participate in governance and the second is for funding and long-term profitability.

The path to DeFi independence

Kwenta essentially and exchange for synthetic assets whereas Synthetix is the underlying protocol for generating them. Due to confusion with branding, Synthetix worked with the community to create Kwenta. It describes itself as an interface optimized for zero slippage synth trading.

Synthetix core developers have been working on implementing Layer 2 scaling solutions to the protocol among other things. So Kwenta was essentially lacking in development resources preventing it from reaching its true potential.

“The solution we’ve found is to formalize Kwenta as an independent project operating outside of the Synthetix core contributors.”

The announcement explained that the Kwenta token will be used to bootstrap the community and fuel an early development team. This will be able to lead it towards becoming a self-sustaining platform.

The new token will complement the Synthetix community, it explained, adding value to Kwenta on its path to independence.

There were no details on official launch date other than “We’re aiming for summer” for the synthetic asset exchange.

SNX token update

Synthetix’s native SNX token has gained 11% in the past 24 hours. SNX had reclaimed the psychological $10 price level during Tuesday morning’s Asian trading session.

It has taken a big hit with the rest of the DeFi tokens during the market slump dropping 60% from its mid-May high of $25.

In terms of total value locked, Synthetix has around $2 billion according to DappRadar. This is a 50% decline from its peak in February.

The little known Kwenta exchange is not listed on any of the major analytics websites, but its big independence drive and token launch could change this.

Disclaimer

All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.

Share Article

Martin has been covering the latest developments on cyber security and infotech for two decades. He has previous trading experience and has been actively covering the blockchain and crypto industry since 2017.

Follow Author

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://beincrypto.com/kwenta-synthetix-defi-exchange-independence-new-token/

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Blockchain

Major DeFi Tokens on the Rise as Bitcoin Breaches Above $40000

With Bitcoin going above $40,000, it gives a sizable boost to the leading DeFi tokens such as Aave, Uniswap, and Compound.

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Leading cryptocurrency Bitcoin finally breaches the $40,000 mark on 14th June after weeklong trading below the $35,000 zone. With BTC going on an upwards streak, it gives a sizable boost to the overall crypto market along with major DeFi tokens such as Aave, Uniswap, and Compound.

Aave, Uniswap, and Compound are on the Rise

Over the past 24 hours, the price of Aave, Uniswap, and Compound has increased by roughly 9% with the three tokens hitting the highs in terms of correlation against Bitcoin’s price.

The combined value of all cryptocurrencies is currently at $1.67 trillion, with DeFi tokens sector among the biggest gainers.

For instance, DeFi lending protocol Aave (AAVE) has been up by 10% over the past 24 hours and is currently trading at $325. With a market cap of just above $4 billion, AAVE is currently the fourth largest DeFi asset.

READ  Origin Protocol (OGN) and REEF Technical Analysis: What to Expect?

Earlier this month, the DeFi token reached the number one spot in total value locked (TVL) in the entire sector.

Similarly, Ethereum-based decentralized exchange (DEX) token Uniswap (UNI) is the tenth-largest cryptocurrency by market cap and the largest among DeFi tokens.  With a market cap of $12 billion, the token has skyrocketed above $24 but is still 50% below its all-time high of $44.29 on May 3.

Similarly, the governance token of the Compound Protocol (COMP) has reached $339 earlier today and is currently the fourth largest DeFi token and the 60th-largest crypto asset by market cap.

DeFi Tokens Correlating With Bitcoin’s Price

The price of DeFi tokens largely depends on factors like the correlation with Bitcoin and social media activity. Notably, the latest move has brought an unusually high correlation of AAVE, UNI, and COMP to the price of Bitcoin.

READ  MetaMask Dips Into DeFi By Offering Token Swaps

Besides, various metrics such as the number of active users, trading volumes on DEX, interest per year on lending protocols, the amount deposited in lending protocols, and the number of outstanding loans.

#AAVE #COMP #Compound Protocol #DeFi #DeFi Tokens #UNI #Uniswap

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.cryptoknowmics.com/news/major-defi-tokens-on-the-rise-as-bitcoin-breaches-above-40000

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