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  • Unifi Farms Beta Launches on Unifi Protocol to Pioneer No-Stake Farming

    Unifi Farms Beta Launches on Unifi Protocol to Pioneer No-Stake Farming

    Singapore, Singapore, 26th February, 2021, // ChainWire //

    Unifi Farms Beta Launches on Unifi Protocol to Pioneer No-Stake Farming

    Unifi Protocol announces the launch of Unifi Farms. The most revolutionary part of Unifi Farms is there is no staking of the liquidity token required. The public beta launch of Unifi Farms V1 will take place on not one, not two, but six different blockchains at once.

    Unifi is proud to announce the upcoming public beta launch of Unifi Farms V1 on Binance Smart Chain!

    Unifi Protocol is not a clone of other DeFi projects, which has led to some very unique innovations.  Unifi Farms will continue this tradition of shattering expectations and introducing features on Unifi Farms not being offered anywhere else in DeFi!

    Unifi Farms will have several advantages over old-fashioned DeFi farms.  The one that will likely be the most revolutionary with Unifi Farms is there is no staking of the liquidity token required! Welcome to the world of true auto-farming on Unifi, where we refer to it as No-Stake Farming.

    Why is farming without staking so revolutionary?

    Savings! Everyone agrees the high network fees on Ethereum have a large impact on the farming rewards earned by liquidity providers.  Even on low cost networks such as Binance Smart Chain, the network fee is a cost that reduces the benefit of farming.

    To participate in most farms, the user pays at least five network fees.  First – provide liquidity,  second – stake the liquidity token in the farm, third – claim the reward, fourth unstake the liquidity token, fifth – exchange the liquidity token back into the original liquidity.

    Unifi Farms only requires two network fees.  First – Provide Liquidity, Second – exchange the liquidity token back into liquidity.  You may choose to claim Unifi Farm rewards at any time, as often as you like, which does cost an extra network fee.  But that is optional with Unifi.  You may choose to let the rewards grow until you remove the liquidity, which will automatically claim your rewards with no extra network cost!

    Security! We believe that hacks are a prevalent and unfortunate trend in the DeFi space. They demoralize potential users from participating in different projects and create anxiety for almost everyone involves. The largest risk of staking your liquidity tokens is that those tokens leave your wallet and go to the DeFi platform’s contract. This puts digital assets at high risk.  Unifi Farms does not require you stake your liquidity provider tokens at all.  Which means they stay in the best possible place – your wallet!  Unifi Farms does not take liquidity tokens, never has control over your liquidity tokens, may not transfer or lose them, or even have them stolen.  Because you keep them securely in your wallet the entire time.  Who do you trust the most with your liquidity tokens, the farming platform, or yourself?

    Convenience! There are no extra steps required to have your liquidity earn more rewards through farming! Depositing liquidity on Unifi already earns you a share of the trading fees in that pair.  Now with Unifi Farms, earn even more with no additional staking action needed.  Your liquidity automatically qualifies for available farming rewards.  All you have to do is claim.

    It is that simple.  Provide liquidity, earn farming rewards. No staking of LP tokens required.

    Let’s break it down even more:

    Deposit liquidity and automatically earn rewards on top of rewards. This suggests zero transaction fees to start farming – there is no need to stake or unstake any tokens to start earning rewards. Security is a huge differentiator for Unifi Farms. Unifi Protocol never takes possession of your LP (Liquidity Provided) token at any time. They stay in your wallet the whole time, which means you may claim your UP or withdraw your liquidity at any time. Unifi Farms is non-custodial.

    Beta Launch Promotion Event

    The initial public beta launch of Unifi Farms is a promotional event that will commence in the very, very near future and run for 2 weeks only. At this time, there is no commitment from Unifi for farming rewards beyond this promotional event, although it is possible future support will be announced.

    In order to participate in this opportunity, it is recommended to deposit liquidity now so that when the promotion begins, you will automatically begin earning farming rewards. It’s probable that the highest yield farming rewards will be earned by early liquidity providers. See below for how to participate.

    Make sure to follow Unifi Protocol social media channels for announcements regarding the beta launch of Unifi Farms.

    About Unifi Protocol

    Unifi Protocol is a group of non-custodial, interoperable smart contracts linking multiple blockchains together into one large DeFi marketplace. uTrade is the working proof-of concept trading platform for harnessing multi-chain swaps and liquidity mining to power UNFI, Unifi’s Global Governance Token.  Unifi Protocol also features cross-chain swaps, sustainable utility, a strong rewards infrastructure. The tokenomics of Unifi Protocol balances an increasingly popular multi-chain liquidity farming platform.

    Press Contact:

    Ryan Dennis

    Ryan@SesameSeed.org

    Contacts

    Head of Marketing

    • Ryan Dennis
    • Unifi Protocol
    • ryanedennis@gmail.com
    • 9143095774
  • 25th February: BTC/USD Keeps Going Sideways, ETH/USD Drops Below 1,550

    25th February: BTC/USD Keeps Going Sideways, ETH/USD Drops Below 1,550

    Konstantin Anissimov, Executive Director at CEX.IO

    BTC/USD

    BTC/USD opened the trading session of 25th February at 49,676, and it closed above 50,500 in the first hour. Later on, until 09:00 UTC, BTC/USD was going sideways, keeping for the most time between the level of the session open and 50,500. BTC/USD took a slight dive to 49,000 between 09:00 and 10:00 UTC, with the hour’s lowest point being at 48,700 as per the CEX.IO pricing, but rebounded rather quickly in the next hour and continued upwards until 13:00 UTC, getting to 51,500.

    A shooting-star hourly candlestick reached up to 52,168 between 13:00 and 14:00 UTC but created some selling stimulus, which eventually led to a bearish intraday price wave from 14:00 to 22:00 UTC. After closing the 17:00 hourly candlestick below the 50-period hourly simple moving average at 49,592, BTC/USD continued sideways until 20:00 UTC. Between 20:00 and 22:00 UTC, the pair travelled down to the 4.236 Fibonacci retracement level at 48,051.

    BTC/USD has stagnated after rebounding above 48,000 and may need more buying volumes to break above the upper boundary at 51,000 of this flat corridor. The pair is still on the bullish course, and the buying sentiment is still very present. And the buying volumes placed around the 4.236 Fibonacci retracement level will likely play a key role in creating the necessary bullish momentum for BTC/USD to break above 51,000 and head back to 58,000, which then will be a rather clear target.

    In case a breakdown to 46,000 takes place, there will be more substantial buying volumes that may lead to a double-bottom pattern that may get hard to break for the sellers. We thus continue to keep a moderately bullish stance on BTC/USD, with the current target at 57,111.

    ETH/USD

    ETH/USD started the trading session of 25th February at 1,628.1 and, after climbing to 1,650 in the first hour continued sideways until 17:00 UTC. In that time, ETH/USD was mainly keeping between 1,600 and 1,650, and in the hour of 17:00 the selling volumes managed to push and close the pair below 1,600, which had been unsuccessfully attempted twice before in the day.

    After breaking down below 1,600, ETH/USD continued slipping down at a low angle until 21:00 UTC, but at that point the selling pressure grew once again and drove the ETH/USD treading pair below 1,550. 

    These downside dynamics still do not put an end to the ETH/USD uptrend, since the pair’s current low on the daily timeframe is well above the previous one at 1,100.3 based on the CEX.IO pricing. And the pair still keeps above the 50-day simple moving average, which is another sign of an unfinished uptrend.

    A breakdown below the 50-day SMA can increase the selling pressure behind ETH/USD and increase the chances of a downside reversal. However, there are going to be substantial buying volumes placed in the area of 1,440 – 1,500, which should create some countertrade momentum that might prevent ETH/USD from going yet lower for a while.

  • Gold or Bitcoin, who will win in 2021?

    Gold or Bitcoin, who will win in 2021?

    Bitcoin was introduced no more than a decade ago, while gold has been in the investment field as far as human history goes. Despite being an ancient go-to commodity gold has been left behind by bitcoin in many aspects. Bitcoin took a boost once again, right with the start of 2021, by hitting a new all-time high of $34,000. Therefore, bitcoin is most likely to outperform gold in investment portfolios throughout the year 2021.

     Bitcoin and gold are seen as sources of investment along with safety from economic and political turmoil. These commodities act as safe havens especially when it comes to unbridled expansion and devaluation of major currencies, for example, the US dollar.

    There is no doubt that both Bitcoin and gold will continue to be used for preserving portions of wealth by the investors. But, Bitcoin tends to offer a few more benefits than Gold. These inherent advantages are the reason why Bitcoin succeeded in outperforming Gold.

    The question arises, from whom does this investment demand comes? Traditionally the demand usually comes from investors who require a unique asset with the following qualities:

    • Whose supply is limited.
    • Which can be easily bought and sold.
    • Which is accepted worldwide (universal).
    • Which is a stable source of storing wealth, even when there are threats from economic and political turmoil. 

    It is a fact that both Bitcoin and Gold fulfill all the requirements mentioned above, and there is no doubt that investors will keep buying both the commodities in order to protect their portfolio and diversification. But once again, Bitcoin is most likely to keep staying a step ahead of Gold.

    Reasons why Bitcoin will win this race

    To understand these reasons, we will have to do a side-by-side study of both Bitcoin and Gold. To help you understand, here is a complete Bitcoin Vs Gold comparison.

    • The limited supply of Bitcoin and Gold

    The reasons behind the limitation in the supply of both Bitcoin and Gold are different. The production of Gold is a very difficult and labor-intensive task. Moreover, it takes a long time for it to be available for the investment, and it is also restricted to the geographical areas where there are resources of the Gold present. All these factors make up the limited supply of Gold. But, according to some futurists, the supply can and will be outpaced in the future, because humans will start mining Gold from other planets or asteroids. 
    Just like Gold, Bitcoin also comes through mining. But this mining is quite different than Gold mining. Bitcoin mining does not need too many human resources and capital to be mined. So how is the supply of Bitcoins going to stay limited? Here’s how. The Bitcoin supply is limited, and Bitcoins are only 21 million in number. 99% of which will be mined in the next two decades. After the 99% is mined, the rest 1% Bitcoins will take around 100 years to be mined. After this, it will be the end. Bitcoins will not be available anymore and that’s a win-win for the investors.

    • Easy buying and selling

    Anyone can buy Gold easily, in several different forms i.e. jewelry, bricks, or nuggets. Moreover, exposure to Gold’s price is also achievable through ETF or any investment fund. Sounds easy, obviously! But, it requires effort and time to buy gold and also an investment account in order to buy ETF or a Gold fund. Also, there is kind of an age restriction for buying Gold.
    On the contrary, for buying Bitcoins all you need is a Bank account and an application (App). Every person, who has a mobile phone, regardless of his age can easily buy Bitcoin. Older people are not so savvy regarding technology, but as time is passing they are also learning.

    • Widely accepted exchange medium

    There is no lie in saying that Gold is accepted almost everywhere as an exchange medium. But would someone accept Gold instead of currency? Let’s be honest, can you buy something you like online or in a store by offering Gold? Of course, you cannot. 
    On the contrary, Bitcoin is accessed by all our electronic devices, and the use of Bitcoins as a currency is also starting. Don’t you think it will be easier to pay through Bitcoins instead of offering Gold?

    • Stable source of storing wealth

    People have been using Gold to keep their wealth stored because it has been a common belief that Gold will always serve them right at times of turmoil is happening. This might be true but, how is someone supposed to keep all that Gold, and how can someone carry Gold around? And most importantly how can Gold help in everyday transactions related to business?
    While on the other hand, Bitcoin is free of such questions and charges. You can carry it around in your very own smartphone.

    The bottom line

    There is no doubt that Bitcoin trading we can offer investors a wider range of benefits, but the volatility of this cryptocurrency makes it harder to find reliable entry points. This property makes Bitcoin a very good asset for trading rather than investing in it. Even with this point cleared, one must trade Bitcoin, but not without all the tools for risk management.

    Bitcoin trading might be the next Gold. As the CEO of ironfx.com, says,

    “We’re seeing it emerge as a part of the recommended allocation strategy for institutional investors and investment banks. This underlines just how important this asset has become in the world of investing. Right now, we are seeing a dramatic increase of new retail customers entering the market on a daily basis… Bitcoin is about to become gold for the 21st century.”

    We will only know the true winner with the passing time, but the predictions are mostly in favor of Bitcoin. Bitcoin is becoming a go-to commodity for the next generation, and its making progress with every passing day because of the new people who are joining the market daily.

    If you want to earn some quick profit, Bitcoin might be a good investment to invest or trade on. On the other hand, if your goal is the diversification of your portfolio and you want to trade in a traditional asset, then Gold is the better choice for you.

  • Join the Most Awaited ICO of the Year and Get your Ticket to the Crypto world

    Join the Most Awaited ICO of the Year and Get your Ticket to the Crypto world

    After 12 years of existence, it was about time for crypto to be recognized as it deserves. Step by step, blockchain technology made its way to public institutions after it conquered vendors and business enthusiasts.

    With all the issues that came with bank services, no wonder people are so hyped over the idea of crypto payments – which provide users with data and financial security.

    Tokenization in particular got its spotlight due to all the solutions they offer in terms of fair payments, loans, and votes.

    And to bring the crypto area one step forward, a dedicated team developed one of the most intriguing utility tokens that will forever change the way we see crypto – the STC token, available on its dedicated ICO since February 1st. 

    What is an STC token?

    STC is the core utility token of the Student Coin blockchain project – that makes possible the creation of personalized tokens without strong technical knowledge.

    Having an account on the platform allows you to create:

    • Personal tokens – unique assets tied to a single account;
    • Startup tokens – assets that help you take a step forward to your dreams;
    • Corporate tokens – unique assets dedicated to a single company;
    • DeFi tokens – assets that allow you to perform various bank activities without the intervention of third parties;
    • NFT Tokens – transferable tokens that make possible the switch between platforms.

    All these tokens are valued based on the STC Token, and they can be used for exchanges, trades, even crowdfunds.

    Why is the STC token special?

    The thing that makes the STC token superior to other tokens is its focus on the most important people in the world’s economy – students.

    They are the next generation of employees, which will mark the success of current and future companies. To give people the chance to better education, there’s a need to make university programs more accessible.

    But it’s not that easy. Reducing tuition fees will lead to a lower budget to afford qualitative researchers, teachers, programs, international collaborations, and so on.

    Until now, the solution was bank loans. However, with our unpredictable economy, people lost trust in bank services. And who can blame them?

    Therefore, Student Coin’s team came with a solution that decentralizes student loans – crowdfunding with personal tokens.

    How does it work?

    The future student creates its personal token. This token is put on the Student Coin market. The STC holders purchase the tokens until the student receives the money needed for tuition. After the student graduates and finds a job, a part of his salary will be locked to pay the loan. The STC holders receive a cyclical profit payment for their involvement.

    This project is sustained by over 500 top universities worldwide, including Harvard University, the University of Manchester, and the University of Copenhagen.

    A simple way for students to get the funds they need to achieve their dreams. At least, that’s the main focus, but this process can also be done for visionary entrepreneurs.

    And that’s not the only reason why Student Coin studs out. Holding STC tokens give users the chance to vote in the project’s development and even sign petitions if they’re needed. It’s an entire ecosystem created to give people what they need and raise the utility of cryptocurrencies.

    How can you buy STC tokens?

    To get your STC tokens as soon as possible, make sure you don’t miss the Student Coin Launchpad ICO, available until April 30th.

    Although it started just 23 days ago, the team already raised $2 million worth of STC tokens and completed 35 phases.

    Every phase finished till now had a hard cap of 100K USD, and the price increased by 0.0002 USD with every reloads.

    Joining the ICO doesn’t just give you access to these tokens in advance, but it also gives you additional assets.

    If you recommend the ICO to your friends and send them a unique referral link, you can earn 20% of ETH invested by every friend of yours, alongside 30% of their STC purchases.

    Your friends also get an additional 5% of STC purchased.

    And that’s what we call a fun activity!

    Who is behind Student Coin?

    Student coin is backed by a dedicated team of 44 people from 12 different countries, ready to expand crypto usability and create solutions for the world’s needs. Among them, you can find the former CTO of IBM for Europe, for example, or the president of the Harvard University Club of Poland.

    By the end of 2021, the team plans to develop and implement STC Exchange, STC Terminal, and even an STC App, alongside listing the token on major crypto exchanges.

    So, if their innovative ideas caught your attention, join the ICO and make sure to follow them on social media to be up to date with their features.

    Instagram: https://www.instagram.com/student.coin.world/ 
    LinkedIn: https://www.linkedin.com/company/student-coin-worldwide/ 
    Twitter: https://twitter.com/studentcoinorg 
    Facebook: https://www.facebook.com/studentcoin.org 
    Telegram: https://t.me/studentcoin 
    Reddit: https://www.reddit.com/r/Studentcoin/ 
    Discord: https://discord.gg/Nx65dMZcMt

  • Coinbase Assisted Tesla in Buying BTC

    Coinbase Assisted Tesla in Buying BTC

    Key highlights:

    • The news of Tesla’s investment in Bitcoin was released earlier this month, and it had a big impact on the crypto market
    • According to an anonymous source, Coinbase helped Tesla in buying Bitcoin
    • Now, there are rumors about other major companies also investing in BTC

    Coinbase is a popular and regulated cryptocurrency exchange in the United States. Although it’s known as one of the most popular platforms for retailt cryptocurrency investors, Coinbase also helps large firms to buy BTC and invest in cryptocurrencies. According to a report from The Block, Coinbase also helped Tesla with its blockbuster $1.5 investment in Bitcoin. 

    Tesla said that the goal of their Bitcoin investment was to diversify their portfolio and have the potential of better returns. Fiat currencies are depreciating due to the recent pandemic and the economic and monetary policies that governments around the world adopted to fight it. As a result, many major companies are considering buying safe havens like Bitcoin.

    How did Tesla buy Bitcoin?

    According to an anonymous source, Coinbase helped Tesla in buying Bitcoin, but  Tesla and Coinbase are yet to confirm the report. According to the source, Coinbase facilitated the BTC investment for Tesla at the beginning of February, and the process took some days to complete. It was very similar to the process that Coinbase did for MicroStrategy’s investment in the king of cryptocurrencies. Coinbase’s technology allows clients to make large cryptocurrency purchases without making a big impact on the market.

    The source who spoke to The Block also said that more than 5 Fortune 500 companies are using Coinbase’s services. Coinbase is a regulated exchange, and it might be the safest option for large firms to buy BTC.

    Before the announcement of Tesla’s investment in Bitcoin, there were rumors about Elon Musk’s interest in buying BTC. With the price of BTC above $50,000, there’s no shortage of rumors about large companies entering the crypto space soon.

    Corporate and institutional investments in Bitcoin can have a snowball effect and attract a massive amount of capital to crypto space. It can mean higher prices for BTC due to the simple rule of supply and demand. Whatever happens next, it’s hard to deny that now is a very exciting time for cryptocurrency fans and investors.

  • Is Binance Smart Chain the Main Reason for the Rapid Growth of BNB?

    Is Binance Smart Chain the Main Reason for the Rapid Growth of BNB?

    Key highlights:

    • Binance Smart Chain (BSC) has attracted many DeFi projects recently, and some users are also switching over because of the high fees on Ethereum
    • Aside from Binance Smart Chain, BNB also has many use cases in the Binance ecosystem
    • BSC supports many of the features of the Ethereum blockchain, so DeFi protocols can quickly transition to it

    February has so far been an excellent month for BNB, as the cryptocurrency climbed above $300 and registered gains of over 450% since February 1. The coin also moved up the cryptocurrency market cap rankings, and even managed to take over the 3rd place from Tether’s USDT. 

    Binance Smart Chain (BSC) was the key reason for this rapid surge in BNB’s price. BSC is a blockchain platform developed by Binance that supports smart contracts and also offers much faster and cheaper transactions than Ethereum. The BSC platform also supports many of Ethereum’s features, making the platform more accessible to developers who are already building on Ethereum. However, BSC had to make some sacrifices on the decentralization front to achieve its impressive performance, and BSC has been criticized as too centralized by some blockchain experts.

    Binance Smart Chain is the crucial player in the BNB bull-run

    Bitcoin and Ethereum have both been performing well, and this undoubtedly also helped the BNB markets as well. However, the massive gains displayed by BNB were largely driven by the popularity of the BSC platform.  

    Due to high demand, the Ethereum blockchain currently doesn’t provide the best experience for many users due to high transaction fees. BSC has emerged as an alternative, and managed to attracted DeFi projects such as Value DeFi and Harvest Finance. PancakeSwap, a project that started on Binance, has seen its CAKE token climb to a valuation of around $2 billion. Some analysts believe PancakeSwap was an essential factor in the recent momentum of of BSC and BNB.

    BNB’s use cases

    Binance Coin, or BNB in short, was launched through an ICO conducted by Binance in 2017. It was first an ERC-20 token on Ethereum Blockchain, but migrated to its own Binance Chain blockchain later. BNB is the native coin of the Binance ecosystem, and it has many different use cases. Some of the significant use cases of BNB are as below:

    • The primary use case of BNB is receiving discounts in trading fees. It was the initial usage of BNB, and BNB holders in the Binance ecosystem can get a 25% discount in trading fees at the moment.
    • Binance Coin is the native coin in BSC. BSC has attracted many DeFi protocols, and it could help BNB grow a massive amount.
    • Users can access different services of Binance by holding BNB. For instance, they can participate in token sales. Many previous token sales on Binance turned out to be profitable, and this can create a significant demand for BNB.
    • BNB can be used for purchasing goods and services, just like Bitcoin and Ethereum. Many different exchanges, wallets, and services support BNB, and it doesn’t have any problem with liquidity. This makes it easy for people to use BNB to transfer value to their families and friends.
    • BNB is also the native asset of Binance DEX, and it is used for paying fees. Users can trade on-chain by using the DEX, and BNB is also useful here.
  • Price Analysis: Top 3 Coins to Watch Week 8- DOT, CAKE, & BTC

    Price Analysis: Top 3 Coins to Watch Week 8- DOT, CAKE, & BTC

    Today, Bitcoin took a steep plummet as it dropped by around 19% to reach as low as $46,735. The coin has since recovered pretty quickly and is now trading back above $52,000.

    It is important to understand that, despite Bitcoin printing consistent gains over the past few months, the cryptocurrency is still very vulnerable to sharp falls in price that we have just seen today. Nevertheless, with the increased optimism in the market, driven by institutional demand, we can be certain that any dips like this are going to be bought up relatively quickly – such as what we saw today.

    Today, on Week 8, we will be covering our top picks to watch, which are DOT, CAKE, and BTC:

    To find out these projects in a little more detail and why we chose them, take a look at the article here.

    In this analysis, I would like to cover these four coins to help provide some areas of support and resistance you might expect moving forward.

    Polkadot (DOT) Price Analysis

    What has been going on?

    Despite today’s 8.5% price drop, DOT is still up by a whopping 114% over the past month as it sits in the 5th ranked position with a total market cap value of 32.84 billion. The cryptocurrency had broken out of a symmetrical triangle pattern at the start of February 2021 as it started to push higher.

    By mid-February, DOT had met resistance at $29.50 (1.618 Fib Extension) and stalled there for a few days. This resistance was finally broke last week, which allowed DOT to continue higher and set a new ATH price at $42.71 over the weekend. More specifically, DOT could not manage to close a daily candle above the $40 level.

    Today the BTC price drop caused DOT to sink back into the previous resistance at $29.50. It has since rebounded and is now trading around $34.11.

    DOT price short term prediction: Bullish

    DOT still remains bullish in the short term. A drop beneath $20 would be required to turn the market neutral, and it would have to continue beneath $16 (100-day EMA) to be in danger of turning bearish.

    Looking ahead, the first level of support lies at $32.18 (.382 Fib Retracement). This is followed by $29.50, $28, $25.85 (.618 Fib Retracement), and $21.34.

    Added support lies at $20 and $160 (100-day EMA).

    Where is the resistance toward the upside?

    On the other side, the first level of strong resistance lies at $38.38. This is followed by $40. Above $40, resistance lies at the ATH price of $42.71, $44, and $46.70 (1.618 Fib extension – purple).

    Additional resistance is found at $48, $50, $50.55, $52, and $54.54.

    Buy/Sell DOT

    Pancake Swap (CAKE) Price Analysis

    What has been going on?

    CAKE dropped by a sharp 20% today but is still up by a strong 120% over the past month of trading. It is currently ranked in the 48th position as it holds a $1.80 billion market cap value.

    The cryptocurrency had surged higher from $6.00 during mid-Feb, and it continued higher to set a new ATH price at $21.47 on Friday. More specifically, it could not close a daily candle above resistance at $19.15 (1.618 Fib Extension) and rolled over from there.

    Over the past two days, CAKE has done well to hold the support at $14.50. Today’s price drop saw the coin falling as low as $12, but it has since recovered to $14.45.  

    CAKE price short term prediction: Bullish

    CAKE still remains bullish in the short term. To turn neutral, it would need to fall beneath the support at $8.43 (.618 Fib Retracement). To turn bearish, it would need to continue beneath $4.00.

    If the sellers push lower, the first support lies at $13.38 (.382 Fib Retracement). This is followed by $12, $10.90 (.5 Fib Retracement), $10, and $8.43 (.618 Fib Retracement).

    Where is the resistance toward the upside?

    On the other side, the first level of resistance lies at $18. This is followed by $19.15, $20, and $21.47 (ATH price). Above the ATH, resistance is located at $24, $26, $27, and $28.

    Buy/Sell CAKE

    Bitcoin (BTC) Price Analysis

    What has been going on?

    Bitcoin saw a very interesting 24 hour period in which the coin dropped by almost 20% as it sank as low as $46,735. The cryptocurrency has quickly recovered and is currently trading above $52,000 again.

    For the period of February 2021, BTC has been trading within an ascending price channel. Over the weekend, the coin reached the upper boundary of this price channel and could not break above it. Today, we can see that the steep price drop caused BTC to fall into the support at $47.100, provided by a .382 Fib Retracement.

    It quickly recovered and is now trading above the midline of this ascending price channel again. Bitcoin has not slipped beneath the midline of this price channel since February 8th.

    BTC price short term prediction: Bullish

    Despite the steep price spike lower, BTC still remains strongly bullish in the short term. To turn neutral, Bitcoin would need to drop beneath $40,000 (.618 Fib Retracement). To turn bearish, Bitcoin would need to continue beneath $30,000.

    If the sellers push lower, the first level of support lies at $51,330 (.236 Fib Retracement & midline of the price channel). This is followed by $48,981 (lower boundary of the price channel), $48,000, and $47,100 (.382 Fib Retracement).

    Added support lies at $43,660 (.5 Fib Retracement), $40,000 (.618 Fib Retracement), and $36,000.

    Where is the resistance toward the upside?

    On the other side, the first level of resistance lies at $54,373. This is followed by $56,000, $57,172, and then the upper boundary of the price channel.

    Added resistance lies at $60,000, $61,000, $64,000, and $66,030.

    Buy/Sell BTC
  • Ethereum is the Pace-Setter For Cryptocurrency ICOs

    Ethereum is the Pace-Setter For Cryptocurrency ICOs

    You probably know about Ethereum – it’s the second-biggest cryptocurrency and its network is actively used by hundreds of thousands, if not millions of users. If you have a diversified cryptocurrency portfolio, you probably hold a few Ethereum-based tokens, as Ethereum is by far the most popular platform for projects that want to issue their own tokens.

    Despite some of the platform’s scalability issues, which can result in costly transaction fees, new projects are constantly growing on Ethereum. In fact, a very large percentage of altcoin projects owe their existence to the Ethereum blockchain.

    From a measly $0.4 price during the ICO, Ethereum grew to become one of the biggest cryptocurrencies as well as the most used blockchain network. The road hasn’t been easy, but the Ethereum project has managed to successfully navigate many challenges. 

    On August 30, 2014, Ethereum announced the end of its public token sale. The team raised $16 million to foster the development of what would become the most prominent blockchain project. After selling at an average price of under 0.5 USD during the ICO, ETH grew into one of the most valuable crypto assets. Since its initial offering, it has produced returns of over 3,000x times and reached an all-time high of over $2,000.

    A $1 investment in ETH at ICO price would worth over $4,000 at press time. Only one other cryptocurrency project can proudly boast of such a plentiful return – Bitcoin. Ethereum’s ROI influenced the popular belief in the potential of cryptocurrency ICOs – no investor wants to miss out on ‘the next Ethereum’. Ethereum’s massive gains following its initial coin offering paved the way for an era of new projects making their way into the crypto space via fundraising programs.

    But this is not the only way Ethereum has pioneered the ICO boom and the proliferation of blockchain projects.

    Trade Ethereum and tokens on the Bityard exchange

    The Ethereum blockchain features smart contract functionality that allows developers to create new cryptographic tokens on the Ethereum blockchain. These cryptographic tokens run parallel to the network’s native asset, ETH. In addition to ETH, other tokens can run on the same Ethereum blockchain. This feature set off a spontaneous effect and has set the crypto space ablaze since it was first announced and used.

    For cryptocurrency developers, creating a new blockchain is only a choice, not a necessity. But whether a new project wishes to develop its own blockchain or not, Ethereum’s smart contract platform simplifies the process of raising funds to develop a blockchain project. New projects can easily issue Ethereum-based tokens and use them to raise funding. To raise funds for the projects’ development, founders would simply offer these tokens to investors. If good tokenomics are applied, these tokens would grow in value as the project gains traction.

    Ethereum has been the platform of choice many notable projects before they launched their mainnet, and the ICO boom was almost entirely facilitated by the Ethereum blockchain. A good amount of autonomous altcoin projects only surfaced and survived because they utilized the Ethereum blockchain. Ethereum is far from done in its duty of bringing new projects to life and housing existing ones while spreading the real benefits of blockchain technology.

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    Many other blockchains have also developed smart contract platforms which allow users mint new and circulate new tokens on the blockchain. The Tron network, for example, has emerged as a competitor to the Ethereum network on all round. With a cheaper and faster blockchain, Tron aims to solve some of the biggest issues of the Ethereum blockchain. Despite this, Ethereum retains its pioneering prestige and continues to be the number one choice for elite projects.

    It is pertinent to say that Ethereum paved the way for a new generation of cryptocurrency and blockchain projects whose real focus is creating utility and attempting to offer solutions to real world issues. No doubt, Ethereum has also been the platform for some “shitcoins”, but the number of reputable projects growing from this unique blockchain is quite astounding.

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  • Top 3 Coins to Watch – Week 8

    Top 3 Coins to Watch – Week 8

    The cryptocurrency market has experienced a very rapid growth in the 2021 and while the growth stalls a bit occasionally, there is no trend reversal in sight just yet. This week’s selection consists of three cryptocurrencies that are hopefully going to continue push the total crypto market capitalization further up. Two out of three cryptocurrencies featured in this week’s top three coins to watch provide an alternative to Ethereum and Ethereum-based solutions, while the third on the list is arguably the most established and biggest cryptocurrency by market capitalization.

    1. Polkadot (DOT)

    Polkadot is a blockchain solution that allows multiple specialized blockchains called parachains to run at the same time and interoperate. Polkadot can connect diverse blockchains into a single, decentralized and highly scalable ecosystem. The network operates using a Proof of Stake consensus algorithm and utilizes a native currency DOT. The project was originally designed by Dr. Gavin Wood, one of the co-founders of Ethereum and the inventor the smart contract programming language Solidity.

    Buy/Sell DOT

    Polkadot Roadmap Release adds Fuel to the rally, Pushes DOT to ATH

    The Polkadot team released a more detailed roadmap of the work on their protocol on Monday, February 15. The roadmap, which ends with the rollout of parachains and slot auctions, marking the full launch of the protocol, is divided in three stages. Currently, we are still in the first phase, where developers can play with the interchain communicating mechanisms, such as the Cross-Chain Message Passing-lite, or XCMP-lite. This protocol allows for tokens and generalized messages to be sent between various parachains, Polkadot’s version of shards. In the next phase, parachains will be deployed on Kusama, Polkadot’s “canary network.” Once the parachains on Kusama are stable and all audits completed successfully an on-chain vote will be triggered on Polkadot to launch parachain auctions.

    While the official roadmap provides no indications of the precise timelines for these milestones, the release of a more detailed launch plan has apparently significantly contributed to DOT’s price rally. As many other cryptocurrencies, DOT has also set its new ATH pride last week, which now stands at $42.28. While the token is currently changing hands at around $38.80 per DOT, an 8.5% drop from the ATH, the recent rally was more than enough to push the cryptocurrency up the ladder for a few spots. After decisively overtaking Ripple (XRP) at the beginning of last week, Polkadot has recently managed to reach a higher market capitalization than Tether (USDT) and Cardano (ADA) as well. This puts the Polkadot with its market capitalization of over $34 billion on the fourth place – all this before parachains, arguably the protocol’s most important feature, are even fully implemented. Will DOT continue to further grow, or has it maxed out?

    2. PancakeSwap (CAKE)

    PancakeSwap is a Uniswap-like decentralized exchange (DEX) and yield farming protocol operating on the Binance Smart Chain (BSC). The fact that it does not operate on the congested Ethereum network allows for lower fees and consequently more profit. PancakeSwap currently has a total value locked (TVL) of $3.8 billion and boasts with APYs of up to 850%. All trades are executed via an “automated market maker” design.

    Buy/Sell CAKE

    PancakeSwap Overtook Ethereum-based Uniswap by Trading Volume

    PancakeSwap overtook the Ethereum-based Uniswap by trading volume on February 18 and became the world’s largest decentralized exchange by daily trading volume. On that day over $1.7 billion worth of Binance Smart Chain tokens were traded on PancakeSwap, while its competitor Uniswap saw only $1.6 billion exchange hands. It appears that now that a cheaper alternative with a great UI is available, Uniswap is slowly losing its market share, as is struggles with Ethereum network congestion and astronomical transaction fees. To illustrate just how big of a gas-guzzler Uniswap is, the platform’s users paid over $16 million in fees on February 18 alone.

    PancakeSwap currently lists 210 “verified” cryptocurrencies across over 799 different trading pairs. The most traded pair is the WBNB/BUSD with over $454 million in volume, with CAKE, BAKE, BURGER, and food-named tokens also raking up big trading volume. PancakeSwap’s governance token is also yummy-sounding – “SYRUP”. Users can receive SYRUP in return for staking their CAKE, which the protocol uses to provide liquidity to the numerous trading pairs on the platform. In addition, users can participate in IFOs and a lottery game as well as non-fungible tokens (NFTs) auctions.

    The PancakeSwap’s increased trading volumes have also translated to a price rally, causing CAKE to surge to its all-time high price of $20.98 on February 19. While the token’s price has since dropped by 20%, CAKE is still up by almost 140% in the last seven days. The fact that the PancakeSwap’s market capitalization remains less than a half of the Uniswap’s indicates that there is still a lot of room for growth for CAKE.

    3. Bitcoin (BTC)

    Although we believe Bitcoin does not need much introduction and that all eyes would be on it even if it were not featured on our list, here is a short summary of the history and key characteristics of the first truly decentralized digital currency. The world’s pioneer cryptocurrency was launched by pseudonymous figure named Satoshi Nakamoto in 2009 and has a capped supply of 21 million coins. The decreasing miner block rewards makes the cryptocurrency scarcer with time, ensuring a deflationary nature.

    Buy/Sell BTC

    Bitcoin market capitalization hit $1 trillion after a week of setting one ATH price after another

    Bitcoin, the flagship cryptocurrency, and the barometer for the whole cryptocurrency market seems to be just unstoppable in 2021. The asset is currently changing hands at around $57,600 meaning that the price per BTC is up by 110% YTD. The amazing performance at the beginning of 2021 has led many to believe that the bullish Bitcoin price predictions of $100,000 by the end of the year might be achievable. The likelihood of Bitcoin hitting this mark seems even higher if the money printing by COVID-19-struck would continue throughout 2021. Consequently, Bitcoin market is recording a high influx of institutional money as home offices, funds and corporate leaders are copying Michael Saylor’s and Elon Musk’s Bitcoin playbook. In addition, retail investors have woken up in 2021 as well, adding additional fuel to the Bitcoin’s rally and causing every bigger dip to be bought up quickly. Leaving retail FOMO aside, Bitcoin is also not perceived as a strictly store of value asset anymore, but it is also growing its payment utility, as many services are integrating Bitcoin as a means of payment. These services provide a crucial utility as well as attract new users and help grow Bitcoin adoption. And more users roughly translate to a higher price, a positive feedback loop that already Satoshi Nakamoto predicted:

    Bitcoin broke two important milestones last week. On February 16, Bitcoin traded above $50,000 for the first time in the history. The rally didn’t stop there, however, as Bitcoin continued to set one all-time high price after another. On February 19, BTC pumped from below $53,000 towards the highs of $56,600 and it was this price climb that caused the total market capitalization of Bitcoin to exceed $1 trillion for the first time. Nevertheless, there is much uncertainty as to what lies ahead for Bitcoin. While some bulls believe that the road from $57,000 to $100,000 is pretty much a straight highway, other warn that the road could be much bumpier than the Bitcoin greenhorns are expecting. Analysts are saying that a correction sooner or later is inevitable. Furthermore, at this stage a correction with a magnitude of around 30%, would even be considered healthy and there were numerous readjustments of a similar magnitude during the 2017 bull market. A drop by 85% or more is highly unlikely at this point. Either way, if BTC corrects, altcoin will likely drop even more.