Connect with us

Blockchain

Wanchain (WAN) and Polkastarter (POLS) Technical Analysis: What to Expect?

POLS and WAN are down a ballpark 80 percent from H1 2021 peaks. Still, WAN/USDT may recover to $1.15 as POLS/USD bounces back to $2.5.

Published

on

Table of Contents

Rate this post

Polkastarter and Wanchain are dangling in the face of liquidation, losing a ballpark 80 percent from H1 2021 peaks. Still, WAN/USDT may recover to $1.15 as POLS/USD bounces back to $2.5.

Wanchain (WAN)

The interoperable blockchain Wanchain is an Ethereum fork. Its native currency is WAN.

Past Performance of WAN

Like most coins, WAN has been pulverized, as price action in the daily chart reveals.

At press time, WAN is down 12 percent versus the USD and down five percent against ETH and BTC, sliding 80 percent from H1 2021 highs.

READ  The Core Flaw In $100,000 Bitcoin Price Prediction

Fleeting closely at the primary support level, WAN buyers stand a chance if there is demand, driving prices above the middle BB.

Day-Ahead and What to Expect: Wanchain

Technical candlestick arrangement points to weakness.

WAN/USDT is down and has support at the 78.6 percent Fibonacci retracement level of the Q1 2021 trade range.

Main reaction points stand at $0.75, the middle BB, and $1.15.

A close above the 20-day moving average may drive WAN towards $1.15 in a buy trend continuation.

WAN/USDT Technical Analysis

WAN Price Daily Chart for June 8

Albeit market confidence, WAN prices are at a precarious position.

Sharp, high volume losses below $0.75 lets loose sellers May 2021 that may subsequently drive WAN to $0.30—Q1 2021 lows.

On the brighter side, gains above the middle BB confirms bulls of May 24, anchoring bulls targeting $1.15.

READ  Ethereum (ETH) Hits New All-Time High Above $2,000

Polkastarter (POLS)

POLS is the token behind the Polkadot-based platform, where blockchain start-ups can securely raise funds and simultaneously distribute tokens. Polkastarter is unique due to its cross-chain pools.

Past Performance of POLS

At the time of writing, Polkastarter prices are down over 80 percent from H1 2021 peaks. POLS is down nine percent on the last day on the back of rising trading volumes at around $14 million.

Considering the pace of degradation as visible in the past few days, the path of the least resistance. POLS/USD price action is skewed for sellers unless there is an influx of bulls, forcing POLS above liquidation levels.

Day-Ahead and What to Expect

Sellers are undoubtedly in control per price action in the daily chart.

POLS/USD is capped below the middle BB, consolidating inside the bull bar of May 24—bullish. For buyers to be in control, POLS prices must race above the middle BB and $2.5.

READ  Eminem Set to Launch His First NFT on Nifty Gateway

POLS/USDT Technical Analysis

POLS Price Daily Chart for June 8

Even though POLS is free-falling, crashing under sell pressure, the last week’s consolidation may offer a reprieve for POLS/USD bulls.

Buy trend continuation above $2.5 would likely catalyze demand in line with May 23 and 24 double bar bullish reversal pattern.

In that eventuality, POLS may rally to $4.5.

On the reverse side, POLS could sink deeper this coming session if prices break below $1.5.

#Polkastarter #POLS #POLS/USDT #WAN #WAN/USDT #Wanchain

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.cryptoknowmics.com/news/wanchain-wan-and-polkastarter-pols-technical-analysis-what-to-expect

Blockchain

Hedge Funds Plan to Allocate 7% of Portfolios in Cryptocurrencies by 2026: FT Survey

A survey with 100 hedge funds concluded that CFOs plan to allocate over 7% of their portfolios in bitcoin and other cryptocurrencies by 2026.

Published

on

Large hedge funds expect to increase their cryptocurrency holdings to 7% in five years, a recent survey conducted by the Financial Times concluded. This comes after the increased involvement from prominent names like Stan Druckenmiller, Paul Tudor Jones III, SkyBridge Capital, and more.

Hedge Funds to Increase Crypto Holdings

It’s safe to say that 2020 was Bitcoin’s breakout year in terms of institutional adoption. The COVID-19 pandemic and the financial catastrophe it caused ultimately highlighted BTC’s merits over most traditional investment tools, which attracted corporations and institutions that steered clear of it up until that moment.

According to a survey by the FT, this will only increase in the next five years. Following a survey among officers from over 100 global hedge funds, the paper concluded that “executives expect to hold an average of 7.2 percent of their assets in cryptocurrencies in five years’ time.”

Although the current holding numbers are unknown, the publication concluded that such an allocation would “represent a large increase” in funds put in various digital assets.

Per David Miller, executive director at Quilter Cheviot Investment Management, hedge funds are “well aware not only of the risks but also the long-term potential” of bitcoin and other cryptocurrencies.


ADVERTISEMENT

However, analysts from the consulting company Oliver Wyman argued that digital asset purchases still “remain limited to clients that have a high-risk tolerance, and, even then, investments are typically a low proportion of investable assets.”

Who Bought In?

While some institutions contemplate on whether or not they should buy or increase their crypto holdings now, others have already done so.

Perhaps it all started with the billionaire hedge fund manager – Paul Tudor Jones III. He was among the first to openly praise BTC after the COVID-19 pandemic because he considered it a proper safe haven instrument against the rising inflation in the US.

He allocated up to 3% of his portfolio in BTC at the time but said he wants to have 5% in the primary cryptocurrency just recently. Stan Druckenmiller, another legend of the legacy financial markets, echoed his words shortly after.

Anthony Scaramucci, the founder and CEO of SkyBridge Capital, was next. He and his organization came on board in late 2020 through a Bitcoin Fund with an initial multi-million dollar investment.

It’s also worth highlighting that US banks, some of the biggest critiques until recently, have also expressed interest in entering the space. Some, like BNY Mellon, have revealed plans to launch cryptocurrency custodians. Others, like Morgan Stanley, will enable their institutional clients to receive BTC exposure through several funds.

Goldman Sachs filed for a Bitcoin ETF, while JPMorgan is reportedly developing an actively managed BTC fund.

SPECIAL OFFER (Sponsored)

Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 50% free bonus on any deposit up to 1 BTC.

You Might Also Like:


Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://cryptopotato.com/hedge-funds-plan-to-allocate-7-of-portfolios-in-cryptocurrencies-by-2026-ft-survey/

Continue Reading

Blockchain

Hedge Funds Plan to Allocate 7% of Portfolios in Cryptocurrencies by 2026: FT Survey

A survey with 100 hedge funds concluded that CFOs plan to allocate over 7% of their portfolios in bitcoin and other cryptocurrencies by 2026.

Published

on

Large hedge funds expect to increase their cryptocurrency holdings to 7% in five years, a recent survey conducted by the Financial Times concluded. This comes after the increased involvement from prominent names like Stan Druckenmiller, Paul Tudor Jones III, SkyBridge Capital, and more.

Hedge Funds to Increase Crypto Holdings

It’s safe to say that 2020 was Bitcoin’s breakout year in terms of institutional adoption. The COVID-19 pandemic and the financial catastrophe it caused ultimately highlighted BTC’s merits over most traditional investment tools, which attracted corporations and institutions that steered clear of it up until that moment.

According to a survey by the FT, this will only increase in the next five years. Following a survey among officers from over 100 global hedge funds, the paper concluded that “executives expect to hold an average of 7.2 percent of their assets in cryptocurrencies in five years’ time.”

Although the current holding numbers are unknown, the publication concluded that such an allocation would “represent a large increase” in funds put in various digital assets.

Per David Miller, executive director at Quilter Cheviot Investment Management, hedge funds are “well aware not only of the risks but also the long-term potential” of bitcoin and other cryptocurrencies.


ADVERTISEMENT

However, analysts from the consulting company Oliver Wyman argued that digital asset purchases still “remain limited to clients that have a high-risk tolerance, and, even then, investments are typically a low proportion of investable assets.”

Who Bought In?

While some institutions contemplate on whether or not they should buy or increase their crypto holdings now, others have already done so.

Perhaps it all started with the billionaire hedge fund manager – Paul Tudor Jones III. He was among the first to openly praise BTC after the COVID-19 pandemic because he considered it a proper safe haven instrument against the rising inflation in the US.

He allocated up to 3% of his portfolio in BTC at the time but said he wants to have 5% in the primary cryptocurrency just recently. Stan Druckenmiller, another legend of the legacy financial markets, echoed his words shortly after.

Anthony Scaramucci, the founder and CEO of SkyBridge Capital, was next. He and his organization came on board in late 2020 through a Bitcoin Fund with an initial multi-million dollar investment.

It’s also worth highlighting that US banks, some of the biggest critiques until recently, have also expressed interest in entering the space. Some, like BNY Mellon, have revealed plans to launch cryptocurrency custodians. Others, like Morgan Stanley, will enable their institutional clients to receive BTC exposure through several funds.

Goldman Sachs filed for a Bitcoin ETF, while JPMorgan is reportedly developing an actively managed BTC fund.

SPECIAL OFFER (Sponsored)

Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 50% free bonus on any deposit up to 1 BTC.

You Might Also Like:


Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://cryptopotato.com/hedge-funds-plan-to-allocate-7-of-portfolios-in-cryptocurrencies-by-2026-ft-survey/

Continue Reading

Blockchain

Solanax Launches Private Token Sale, IEO Starts on June 28

[PRESS RELEASE – Please Read Disclaimer] Solanax, a Solana-based DeFi protocol is currently conducting a private token sale that ends on the 25th of June. They are also aiming to proceed with an initial exchange offering (IEO) that is set to commence on the 28th of June. Solanax went live recently with their automated market […]

Published

on

[PRESS RELEASE – Please Read Disclaimer]

Solanax, a Solana-based DeFi protocol is currently conducting a private token sale that ends on the 25th of June. They are also aiming to proceed with an initial exchange offering (IEO) that is set to commence on the 28th of June.

Solanax went live recently with their automated market maker (AMM) and decentralized exchange (DEX) platform on the Solana Blockchain. Regarding the launch, the team said, “SOLANAX are attempting to eliminate centralized intermediaries and pave the way for full decentralization, censorship-resistant, and safe trading within the Solana ecosystem and beyond”

Introducing Solanax

Solanax is a decentralized exchange built on top of the Solana blockchain that leverages the exciting features of the fastest-growing blockchain. The project resolves a long-standing problem with scalability and transaction throughput in DEXes, driving the adoption of DeFi products and services.

Solanax also allows peers on the Solana blockchain and beyond to trade directly between themselves without intermediaries through self-custody or non-custodial wallets.

SOLD Token Distribution

Solanax will distribute at least 20 million $SOLD tokens before getting listed on a centralized exchange. The project currently offers crypto enthusiasts and investors a chance to get a hold of their native token through their private sale which ends on the 28th of June. In this sale, Solanax is offering 10 million tokens at $0.1 per token, considering a three-month vesting period, or $0.15 per token without a vesting period. The private sale aims to raise at least $1 million.

In the subsequent IEO that launches on June 28th, another 10 million SOLD tokens will be distributed in multiple rounds with a target of at least $2 million from the offering. The private sale and IEO will distribute a combined 25% of the total tokens.

Solanax Features

Solanax is unlike any other DEX in the crypto space. The protocol’s versatility powered by Solana builds a trader-first DEX design, where trading features are optimized for investors to buy, sell and transfer crypto assets seamlessly. Solanax is the ultimate CEX-killer, offering at-par if not better features that traders look out for in a crypto exchange.

Listed below are some of the notable features/experiences that set Solanax apart:

  • Hassle-free trading with high liquidity across Solanax, as investors are incentivized to provide liquidity to low-volume assets while maintaining high liquidity in popular assets.
  • Rapid and seamless transaction settlement powered by Solana’s high transaction throughput.
  • Very low transaction fees for swapping SPL tokens.
  • Open-source Liq and DeFi protocol. There are several ways people will be able to earn rewards.
  • Plans for cross-blockchain Bridge implementation via Wormhole / Binance Bridge / Solanax Token Converter
  • Runs on the more powerful and highly scalable Solana blockchain.
  • Fully decentralized, censorship-resistant with a secure hybrid consensus model

Apart from the aforementioned features, the platform will offer unmatched flexibility for traders to access digital assets on the Ethereum blockchain. In this ecosystem, developers can convert ERC-20 tokens into SPL tokens compatible with the Solana ecosystem, then deploy the tokens to decentralized apps (dApps) like Solanax.

The team has reserved 40% of the 80 million total supply of $SOLD for platform incentives. These include staking and liquidity mining rewards. Solanax DEX also has a farming platform where traders can stake LP tokens and earn farming rewards. The aim is to increase use cases and incentives on the platform to make this ecosystem a community-based decentralized exchange. To be a part of the community while the project is in the early stages, be a part of the IEO and the private sale using the information given below.

Contact

Website

Private Token Sale: email – sales AT solanax.org

Twitter

Telegram

SPECIAL OFFER (Sponsored)

Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 50% free bonus on any deposit up to 1 BTC.


Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://cryptopotato.com/solanax-launches-private-token-sale-ieo-starts-on-june-28/

Continue Reading

Blockchain

Solanax Launches Private Token Sale, IEO Starts on June 28

[PRESS RELEASE – Please Read Disclaimer] Solanax, a Solana-based DeFi protocol is currently conducting a private token sale that ends on the 25th of June. They are also aiming to proceed with an initial exchange offering (IEO) that is set to commence on the 28th of June. Solanax went live recently with their automated market […]

Published

on

[PRESS RELEASE – Please Read Disclaimer]

Solanax, a Solana-based DeFi protocol is currently conducting a private token sale that ends on the 25th of June. They are also aiming to proceed with an initial exchange offering (IEO) that is set to commence on the 28th of June.

Solanax went live recently with their automated market maker (AMM) and decentralized exchange (DEX) platform on the Solana Blockchain. Regarding the launch, the team said, “SOLANAX are attempting to eliminate centralized intermediaries and pave the way for full decentralization, censorship-resistant, and safe trading within the Solana ecosystem and beyond”

Introducing Solanax

Solanax is a decentralized exchange built on top of the Solana blockchain that leverages the exciting features of the fastest-growing blockchain. The project resolves a long-standing problem with scalability and transaction throughput in DEXes, driving the adoption of DeFi products and services.

Solanax also allows peers on the Solana blockchain and beyond to trade directly between themselves without intermediaries through self-custody or non-custodial wallets.

SOLD Token Distribution

Solanax will distribute at least 20 million $SOLD tokens before getting listed on a centralized exchange. The project currently offers crypto enthusiasts and investors a chance to get a hold of their native token through their private sale which ends on the 28th of June. In this sale, Solanax is offering 10 million tokens at $0.1 per token, considering a three-month vesting period, or $0.15 per token without a vesting period. The private sale aims to raise at least $1 million.

In the subsequent IEO that launches on June 28th, another 10 million SOLD tokens will be distributed in multiple rounds with a target of at least $2 million from the offering. The private sale and IEO will distribute a combined 25% of the total tokens.

Solanax Features

Solanax is unlike any other DEX in the crypto space. The protocol’s versatility powered by Solana builds a trader-first DEX design, where trading features are optimized for investors to buy, sell and transfer crypto assets seamlessly. Solanax is the ultimate CEX-killer, offering at-par if not better features that traders look out for in a crypto exchange.

Listed below are some of the notable features/experiences that set Solanax apart:

  • Hassle-free trading with high liquidity across Solanax, as investors are incentivized to provide liquidity to low-volume assets while maintaining high liquidity in popular assets.
  • Rapid and seamless transaction settlement powered by Solana’s high transaction throughput.
  • Very low transaction fees for swapping SPL tokens.
  • Open-source Liq and DeFi protocol. There are several ways people will be able to earn rewards.
  • Plans for cross-blockchain Bridge implementation via Wormhole / Binance Bridge / Solanax Token Converter
  • Runs on the more powerful and highly scalable Solana blockchain.
  • Fully decentralized, censorship-resistant with a secure hybrid consensus model

Apart from the aforementioned features, the platform will offer unmatched flexibility for traders to access digital assets on the Ethereum blockchain. In this ecosystem, developers can convert ERC-20 tokens into SPL tokens compatible with the Solana ecosystem, then deploy the tokens to decentralized apps (dApps) like Solanax.

The team has reserved 40% of the 80 million total supply of $SOLD for platform incentives. These include staking and liquidity mining rewards. Solanax DEX also has a farming platform where traders can stake LP tokens and earn farming rewards. The aim is to increase use cases and incentives on the platform to make this ecosystem a community-based decentralized exchange. To be a part of the community while the project is in the early stages, be a part of the IEO and the private sale using the information given below.

Contact

Website

Private Token Sale: email – sales AT solanax.org

Twitter

Telegram

SPECIAL OFFER (Sponsored)

Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 50% free bonus on any deposit up to 1 BTC.


Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://cryptopotato.com/solanax-launches-private-token-sale-ieo-starts-on-june-28/

Continue Reading
Esports9 mins ago

How to bunny hop in VALORANT

Blockchain23 mins ago

Hedge Funds Plan to Allocate 7% of Portfolios in Cryptocurrencies by 2026: FT Survey

Blockchain23 mins ago

Hedge Funds Plan to Allocate 7% of Portfolios in Cryptocurrencies by 2026: FT Survey

Blockchain24 mins ago

Solanax Launches Private Token Sale, IEO Starts on June 28

Blockchain24 mins ago

Solanax Launches Private Token Sale, IEO Starts on June 28

Blockchain26 mins ago

DeFi Yield Farming is Brilliant Says Legendary Investor Mark Cuban

Blockchain27 mins ago

Bitcoin price analysis: Bitcoin still trades around $40,000, reversal incoming? 

Blockchain27 mins ago

Bitcoin price analysis: Bitcoin still trades around $40,000, reversal incoming? 

Blockchain27 mins ago

Bware Labs Launches MVP of High Performance Decentralized Node Network

Blockchain27 mins ago

MicroStrategy Could Buy More Bitcoin With $1 Billion Stock Offering

Blockchain28 mins ago

Hedge Funds Plan to Allocate 7% of Portfolios in Cryptocurrencies by 2026: FT Survey

Blockchain29 mins ago

Solanax Launches Private Token Sale, IEO Starts on June 28

Covid1932 mins ago

This Man Is Honoring COVID Victims By Telling Their Stories, One Obituary At A Time

Blockchain35 mins ago

After Debt Security and Cash, MicroStrategy set to Sell $1B in Stocks for BTC Purchase

Blockchain35 mins ago

After Debt Security and Cash, MicroStrategy set to Sell $1B in Stocks for BTC Purchase

Blockchain35 mins ago

A survey reveals investors are still bullish on Bitcoin despite the recent market drop.

Blockchain35 mins ago

A survey reveals investors are still bullish on Bitcoin despite the recent market drop.

Aviation36 mins ago

Emirates Reports $5.5 Billion Loss Amid Ongoing Pandemic

CNBC53 mins ago

Jaguar Land Rover is developing a hydrogen-powered vehicle and plans to test it out this year

CNBC53 mins ago

Jaguar Land Rover is developing a hydrogen-powered vehicle and plans to test it out this year

Blockchain1 hour ago

Thailand Bans Meme Coins and NFT Trading in New Regulation

AR/VR1 hour ago

All I Want: The stories behind Portuguese female artists

Blockchain1 hour ago

Bitcoin price bottom is in, says Fidelity exec as crypto market exits ‘extreme fear’

HRTech1 hour ago

Who is a ‘minimum guy’? Why does an organisation need him?

HRTech1 hour ago

Who is a ‘minimum guy’? Why does an organisation need him?

Blockchain1 hour ago

Cryptocurrency Market Drops 4% in 7 Days as Bitcoin Surges 8%

Start Ups1 hour ago

Tallinn-based Change, a cryptocurrency investing platform for retail investors, closes €3.7 million crowdfund

Blockchain1 hour ago

Ripple price analysis: Ripple rejects $0.90 resistance, prepares to move lower?

Blockchain1 hour ago

Bitcoin investors more bullish than ever despite 50% price crash: survey

Blockchain2 hours ago

Coinbase Listing and Parachain Progress Boost Polkadot 16%

Trending