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Polkadot, Ontology, FTX Token Price Analysis: 17 January

Polkadot showed bearish divergence, and while a pullback isn’t mandated, some regions of support can offer good buying opportunities. Ontology was bullish on the charts and was likely to flip the $0.6

The post Polkadot, Ontology, FTX Token Price Analysis: 17 January appeared first on AMBCrypto.

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Polkadot showed bearish divergence, and while a pullback isn’t mandated, some regions of support can offer good buying opportunities. Ontology was bullish on the charts and was likely to flip the $0.68 level to support, and FTX Token was unable to break past the $9.8 region over the past few days.

Polkadot [DOT]

Polkadot, Ontology, FTX Token Price Analysis: 17 January

Source: DOT/USDT on TradingView

On the 6-hour chart, a bearish divergence is seen between price and its momentum. Divergences are not tools to time an entry into a trade – however, they do warn of corrections in both directions.

Using the Fibonacci tool, some levels of retracement are highlighted. The confluence between the retracement levels for different DOT moves – such as the $11.29-$11.57 region confluence (yellow and gray retracement levels) – indicates a potentially strong region of support.

Divergences on longer timeframes are more significant, and a deeper correction for DOT can be seen. However, the bullish sentiment on the market can spark at any time – ETH is quite close to its ATH, and can easily see a surge in DOT prices as well.

Hence the highlighted support regions, if DOT gets there, would present excellent opportunities to scale into a position.

Ontology [ONT]

Polkadot, Ontology, FTX Token Price Analysis: 17 January

Source: ONT/USDT on TradingView

The $0.68 level of resistance has rebuffed ONT twice over the past week, but a series of higher lows have been formed and it is likely ONT would retest resistance and breakout to the upside.

The OBV and ONT prices were both in an uptrend and showed no divergences to act upon. The Chaikin Money Flow also indicated net capital flow into the market to highlight buyer interest in the digital asset.

FTX Token [FTT]

Polkadot, Ontology, FTX Token Price Analysis: 17 January

Source: FTT/USD on TradingView

Over the past 10 days, FTT has met stubborn resistance in the $9.8 region. Using the Fixed Range Volume Profile on the 1-hour chart to give some short-term support levels for FTT, the $8.38, $8.76, $9.18, and $9.64 are the immediate levels to watch out for.

The MACD dived beneath the zero line and further bearish momentum can be seen that would take FTT to the aforementioned levels.

While the longer-term outlook remains bullish, over the next few hours, FTT is likely to register some losses.

Source: https://ambcrypto.com/polkadot-ontology-ftx-token-price-analysis-17-january

Blockchain

Mark Cuban and other billionaires join the NBA Blockchain Committee

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As some brand-name decentralized finance (DeFi) tokens sputter, a crop of new projects have emerged that are catching strong bids on the back of aggressive yield farming programs, generous airdrops, and significant technical advances. 

It’s a set of outlier projects pushing forward on both price and fundamentals that has led one crypto analyst, eGirl Capital’s mewny, to brand them as DeFi’s “Gen 2.”

Mewny, who in an interview with Cointelegraph pitched eGirl Capital as “an org that takes itself as a very serious joke,” says that Gen 2 tokens have garnered attention due to their well-cultivated communities and clever token distribution models — both of which lead to a “recursive” price-and-sentiment loop. 

“I think in terms of market interest it’s more about seeking novelty and narrative at this stage in the cycle. Fundamental analysis will be more important when the market cools off and utility is the only backstop to valuations. Hot narratives tend to trend around grassroots projects that have carved out a category for themselves in the market,” they said.

While investors might be eager to ape into these fast-rising new tokens, it’s worth asking what the projects are doing, whether they’re sustainable, and if not how much farther they have to run.

Pumpamentals or fundamentals?

The Gen 2 phenomena echoes the “DeFi summer” of last year, filled with “DeFi stimulus check” airdrops, fat farming APYs, and soaring token prices — as well as a harrowing spate of hacks, heists, and rugpulls

However, mewny says that there’s a population of investors that emerged from that period continuously looking for technical progress as opposed to shooting stars. 

“There are less quick “me too” projects in defi. An investor may think that those projects never attracted much liquidity in the first place but they overestimate the wisdom of the market if that’s the case. They did and do pull liquidity, especially from participants who felt priced out or late to the first movers.This has given the floor to legitimate projects that have not stopped building despite the market’s shift in focus. ”

One such Gen 2 riser pulling liquidity is Inverse Finance. After the launch of a yield farming program for a forthcoming synthetic stablecoin protocol, the Inverse Finance DAO narrowly voted to make the INV governance token tradable. As a result, the formerly valueless token airdrop of 80 INV is now priced at over $100,000, likely the most lucrative airdrop in Defi history. 

Another Gen 2 star is Alchemix — one of eGirl Capital’s first announced investments. Alchemix’s protocol also centers on a synthetic stablecoin, alUSD, but generates the stablecoin via collateral deposited into Yearn.Finance’s yield-bearing vaults. The result is a token-based stablecoin loan that pays for itself — a new model that eGirl thinks could become a standard.

“eGirl thinks trading yield-bearing interest will be an important primitive in DeFi. Quantifying and valuing future yield unlocks a lot of usable value that can be reinvested in the market,” they said.

The wider markets appears to agree with eGirl’s thesis, as Alchemix recently announced that the protocol has eclipsed half a billion in total value locked:

Staying power?

By contrast, governance tokens for many of the top names in DeFi, such as Aave and Yearn.Finance, are in the red on a 30-day basis. But even with flagship names stalling out, DeFi’s closely-watched aggregate TVL figure is up on the month, rising over $8.4 billion to $56.8 billion per DeFi Llama — progress carried in part on the back of Gen 2 projects. 

The comparatively wrinkled, desiccated dinosaurs of DeFi may have some signs of life left in them, however. Multiple major projects have significant updates in the works, including Uniswap’s version 3, Sushiswap’s Bentobox lending platform, a liquidity mining proposal working through Aave’s governance process, and Balancer’s version 2.

These developments could mean that DeFi’s “Gen 2” phenomena is simply a temporary, intra-sector rotation, and that the “majors” are soon to roar back. It would be a predictable move in mewny’s view, who says “every defi protocol needs at least 1 bear market to prove technical soundness.”

What’s more, according to mewny some of the signs of market irrationality around both Gen 2 tokens as well as the wider DeFi space — such as triple and even quadruple-digit farming yields — may be gone sooner rather than later.

“I don’t think it’s sustainable for any project in regular market conditions. We are not in regular conditions at the moment. Speculators have propped up potentially unsustainable DeFi protocols for a while now.”

Checkout PrimeXBT
Trade with the Official CFD Partners of AC Milan
The Easiest Way to Way To Trade Crypto.
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Source: https://cointelegraph.com/news/defi-summer-2-0-gen-2-tokens-on-a-tear-amid-wider-market-slump

Checkout PrimeXBT
Trade with the Official CFD Partners of AC Milan
The Easiest Way to Way To Trade Crypto.
Source: https://coingenius.news/mark-cuban-and-other-billionaires-join-the-nba-blockchain-committee/?utm_source=rss&utm_medium=rss&utm_campaign=mark-cuban-and-other-billionaires-join-the-nba-blockchain-committee

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Blockchain

DeFi summer 2.0? ‘Gen 2’ tokens on a tear amid wider market slump

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As some brand-name decentralized finance (DeFi) tokens sputter, a crop of new projects have emerged that are catching strong bids on the back of aggressive yield farming programs, generous airdrops, and significant technical advances. 

It’s a set of outlier projects pushing forward on both price and fundamentals that has led one crypto analyst, eGirl Capital’s mewny, to brand them as DeFi’s “Gen 2.”

Mewny, who in an interview with Cointelegraph pitched eGirl Capital as “an org that takes itself as a very serious joke,” says that Gen 2 tokens have garnered attention due to their well-cultivated communities and clever token distribution models — both of which lead to a “recursive” price-and-sentiment loop. 

“I think in terms of market interest it’s more about seeking novelty and narrative at this stage in the cycle. Fundamental analysis will be more important when the market cools off and utility is the only backstop to valuations. Hot narratives tend to trend around grassroots projects that have carved out a category for themselves in the market,” they said.

While investors might be eager to ape into these fast-rising new tokens, it’s worth asking what the projects are doing, whether they’re sustainable, and if not how much farther they have to run.

Pumpamentals or fundamentals?

The Gen 2 phenomena echoes the “DeFi summer” of last year, filled with “DeFi stimulus check” airdrops, fat farming APYs, and soaring token prices — as well as a harrowing spate of hacks, heists, and rugpulls

However, mewny says that there’s a population of investors that emerged from that period continuously looking for technical progress as opposed to shooting stars. 

“There are less quick “me too” projects in defi. An investor may think that those projects never attracted much liquidity in the first place but they overestimate the wisdom of the market if that’s the case. They did and do pull liquidity, especially from participants who felt priced out or late to the first movers.This has given the floor to legitimate projects that have not stopped building despite the market’s shift in focus. ”

One such Gen 2 riser pulling liquidity is Inverse Finance. After the launch of a yield farming program for a forthcoming synthetic stablecoin protocol, the Inverse Finance DAO narrowly voted to make the INV governance token tradable. As a result, the formerly valueless token airdrop of 80 INV is now priced at over $100,000, likely the most lucrative airdrop in Defi history. 

Another Gen 2 star is Alchemix — one of eGirl Capital’s first announced investments. Alchemix’s protocol also centers on a synthetic stablecoin, alUSD, but generates the stablecoin via collateral deposited into Yearn.Finance’s yield-bearing vaults. The result is a token-based stablecoin loan that pays for itself — a new model that eGirl thinks could become a standard.

“eGirl thinks trading yield-bearing interest will be an important primitive in DeFi. Quantifying and valuing future yield unlocks a lot of usable value that can be reinvested in the market,” they said.

The wider markets appears to agree with eGirl’s thesis, as Alchemix recently announced that the protocol has eclipsed half a billion in total value locked:

Staying power?

By contrast, governance tokens for many of the top names in DeFi, such as Aave and Yearn.Finance, are in the red on a 30-day basis. But even with flagship names stalling out, DeFi’s closely-watched aggregate TVL figure is up on the month, rising over $8.4 billion to $56.8 billion per DeFi Llama — progress carried in part on the back of Gen 2 projects. 

The comparatively wrinkled, desiccated dinosaurs of DeFi may have some signs of life left in them, however. Multiple major projects have significant updates in the works, including Uniswap’s version 3, Sushiswap’s Bentobox lending platform, a liquidity mining proposal working through Aave’s governance process, and Balancer’s version 2.

These developments could mean that DeFi’s “Gen 2” phenomena is simply a temporary, intra-sector rotation, and that the “majors” are soon to roar back. It would be a predictable move in mewny’s view, who says “every defi protocol needs at least 1 bear market to prove technical soundness.”

What’s more, according to mewny some of the signs of market irrationality around both Gen 2 tokens as well as the wider DeFi space — such as triple and even quadruple-digit farming yields — may be gone sooner rather than later.

“I don’t think it’s sustainable for any project in regular market conditions. We are not in regular conditions at the moment. Speculators have propped up potentially unsustainable DeFi protocols for a while now.”

Checkout PrimeXBT
Trade with the Official CFD Partners of AC Milan
The Easiest Way to Way To Trade Crypto.
Check out Nord
Make your Money Grow with Mintos
Source: https://cointelegraph.com/news/defi-summer-2-0-gen-2-tokens-on-a-tear-amid-wider-market-slump

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Trade with the Official CFD Partners of AC Milan
The Easiest Way to Way To Trade Crypto.
Source: https://coingenius.news/defi-summer-2-0-gen-2-tokens-on-a-tear-amid-wider-market-slump/?utm_source=rss&utm_medium=rss&utm_campaign=defi-summer-2-0-gen-2-tokens-on-a-tear-amid-wider-market-slump

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Blockchain

Here Are the Top Small-Cap Altcoins That Will Beat the Market, According to Crypto Trader Tyler Swope

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Canadian company Neptune Digital Assets Corp. is partnering up with Link Global Technologies to engage in crypto mining operations.

Neptune and Link Are Hooking Up to Mine Crypto

As the price of bitcoin has exploded in recent months, the prospects of mining crypto are suddenly looking rather positive. The higher the price of a certain coin, the more profitable it is to mine, so right now, one can assume that anyone extracting new coins is making a nice living for themselves. It seems like Neptune wants to get a piece of the action.

Link Global is set to provide the firm with the power, facilities and rack space it needs to house its whopping 1,500 ASIC mining machines. It is estimated by Neptune that as many as 0.7 bitcoins will be produced each given day, though at press time, details are scarce regarding the company’s scaling operations and initial mining deployment.

Cale Moodie – the CEO of Neptune – commented in a recent statement:

The economics of bitcoin mining have changed drastically in the past months, and as such, we see this as another accretive revenue stream for shareholders. The partnership with Link enables us to rapidly move into bitcoin mining with the ability to scale as quickly as our resources allow. We intend to operate a low cost and highly profitable mining operation using the expertise and turnkey setup of Link along with Neptune’s ASIC miners. As always, Neptune is committed to maintaining low overhead while adding digital assets to our balance sheet. We are rather excited to scale this operation to add maximum value for our shareholders.

Over the past year, as bitcoin’s price has increased tenfold, so have the number of miners entering the industry. As a result, many new reports have been initiated claiming that bitcoin energy usage has reached an all-time high, and mining operations are now using more electricity than most countries.

In addition, the industry itself appears to be garnering mixed results. On the one hand, we are seeing many crypto and crypto mining stocks shoot up alongside the price of bitcoin. At the same time, we are also seeing many regions say “no” to future mining projects, a big one being China’s Inner Mongolia region.

Shutting Things Down Early?

This was a real shock for many industry heads given how big mining has been within the area for some time. Inner Mongolia is known for low energy costs, and thus it plays host to many crypto extraction businesses. However, earlier in the week, a statement was issued that the Inner Mongolia region would be closing all mining companies to conserve energy and prevent further environmental pollution.

Neptune provides its customers with a crypto portfolio consisting of some of the world’s top digital tokens, along with proof of stake assets and associated blockchain networks.

Tags: Bitcoin Mining, LINK, Neptune Checkout PrimeXBT
Trade with the Official CFD Partners of AC Milan
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Make your Money Grow with Mintos
Source: https://www.livebitcoinnews.com/neptune-digital-assets-corp-is-ready-to-mine-some-crypto/

Checkout PrimeXBT
Trade with the Official CFD Partners of AC Milan
The Easiest Way to Way To Trade Crypto.
Source: https://coingenius.news/here-are-the-top-small-cap-altcoins-that-will-beat-the-market-according-to-crypto-trader-tyler-swope/?utm_source=rss&utm_medium=rss&utm_campaign=here-are-the-top-small-cap-altcoins-that-will-beat-the-market-according-to-crypto-trader-tyler-swope

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Blockchain

JPMorgan Has Reportedly Told Some Clients How Bitcoin Could Be Useful

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Canadian company Neptune Digital Assets Corp. is partnering up with Link Global Technologies to engage in crypto mining operations.

Neptune and Link Are Hooking Up to Mine Crypto

As the price of bitcoin has exploded in recent months, the prospects of mining crypto are suddenly looking rather positive. The higher the price of a certain coin, the more profitable it is to mine, so right now, one can assume that anyone extracting new coins is making a nice living for themselves. It seems like Neptune wants to get a piece of the action.

Link Global is set to provide the firm with the power, facilities and rack space it needs to house its whopping 1,500 ASIC mining machines. It is estimated by Neptune that as many as 0.7 bitcoins will be produced each given day, though at press time, details are scarce regarding the company’s scaling operations and initial mining deployment.

Cale Moodie – the CEO of Neptune – commented in a recent statement:

The economics of bitcoin mining have changed drastically in the past months, and as such, we see this as another accretive revenue stream for shareholders. The partnership with Link enables us to rapidly move into bitcoin mining with the ability to scale as quickly as our resources allow. We intend to operate a low cost and highly profitable mining operation using the expertise and turnkey setup of Link along with Neptune’s ASIC miners. As always, Neptune is committed to maintaining low overhead while adding digital assets to our balance sheet. We are rather excited to scale this operation to add maximum value for our shareholders.

Over the past year, as bitcoin’s price has increased tenfold, so have the number of miners entering the industry. As a result, many new reports have been initiated claiming that bitcoin energy usage has reached an all-time high, and mining operations are now using more electricity than most countries.

In addition, the industry itself appears to be garnering mixed results. On the one hand, we are seeing many crypto and crypto mining stocks shoot up alongside the price of bitcoin. At the same time, we are also seeing many regions say “no” to future mining projects, a big one being China’s Inner Mongolia region.

Shutting Things Down Early?

This was a real shock for many industry heads given how big mining has been within the area for some time. Inner Mongolia is known for low energy costs, and thus it plays host to many crypto extraction businesses. However, earlier in the week, a statement was issued that the Inner Mongolia region would be closing all mining companies to conserve energy and prevent further environmental pollution.

Neptune provides its customers with a crypto portfolio consisting of some of the world’s top digital tokens, along with proof of stake assets and associated blockchain networks.

Tags: Bitcoin Mining, LINK, Neptune Checkout PrimeXBT
Trade with the Official CFD Partners of AC Milan
The Easiest Way to Way To Trade Crypto.
Check out Nord
Make your Money Grow with Mintos
Source: https://www.livebitcoinnews.com/neptune-digital-assets-corp-is-ready-to-mine-some-crypto/

Checkout PrimeXBT
Trade with the Official CFD Partners of AC Milan
The Easiest Way to Way To Trade Crypto.
Source: https://coingenius.news/jpmorgan-has-reportedly-told-some-clients-how-bitcoin-could-be-useful/?utm_source=rss&utm_medium=rss&utm_campaign=jpmorgan-has-reportedly-told-some-clients-how-bitcoin-could-be-useful

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