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Price analysis 3/3: BTC, ETH, ADA, BNB, DOT, XRP, LTC, LINK, BCH, XLM

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Bitcoin’s (BTC) resilience in the face of global market uncertainty continues to attract new institutional investors. Dan Loeb, the CEO of New York-based asset management firm Third Point, said that he has been “doing a deep dive into crypto.” To strengthen the venture investments team, Third Point hired former pro-crypto Goldman Sachs analyst Heath Terry, according to Reuters.

Loeb’s move into crypto seems to have prodded ‘Shark Tank’ star Kevin O’Leary to allocate a portion of his portfolio to Bitcoin. Additionally, O’Leary hinted that every operating company that he had invested in was considering investing in Bitcoin.

Daily cryptocurrency market performance. Source: Coin360

Billionaire Tim Draper expects Netflix to be the next Fortune 100 company to add Bitcoin to its balance sheet. Draper voiced his views while appearing on the Unstoppable Podcast. He also speculated that Amazon could start “accepting Bitcoin pretty soon.”

These developments show that the institutional adoption of Bitcoin is only in its infancy and it is likely to grow in the future.

It is heartening to see that former Bitcoin naysayers are now voicing their favorable opinions of the digital asset. Billionaire Mark Cuban recently schooled gold bug Peter Schiff on Twitter, suggesting that gold would soon lose its status as a store of value. Cuban also highlighted the advantages Bitcoin held over gold.

With all these positives, it is no surprise that Bitcoin’s price action has resumed its bullish momentum. Let’s analyze the charts of the top-10 cryptocurrencies to spot the strengths and weaknesse.

BTC/USD

Bitcoin surged and closed above the 20-day exponential moving average ($48,123) on March 1. The bears tried to pull the price back below the 20-day EMA on March 2 but failed, which suggests that traders are buying on dips.

BTC/USDT daily chart. Source: TradingView

The buyers pushed the price above the $52,040.95 overhead resistance today but the bears are not ready to give up just yet. The long wick on the day’s candlestick suggests the bears are selling on rallies.

If the price turns down from the current levels and breaks below the 20-day EMA, the BTC/USD pair could drop to $41,959.63. The price could then remain range-bound between these two levels for a few days.

This neutral view will invalidate if the bulls can push and sustain the price above $52,040.95. If that happens, the pair could retest the all-time high at $58,341.03.

On the other hand, a break below the 50-day simple moving average ($41,921) will be the first indication of a possible change in trend.

ETH/USD

Ether’s (ETH) has broken above both moving averages today and the bulls are currently attempting to resume the uptrend. However, the bears are unlikely to give up easily as they may try to stall the up-move at the current levels.

ETH/USDT daily chart. Source: TradingView

If the price turns down from the 20-day EMA, it will signal that trader’s sentiment is shifting from buying on dips to selling during rallies.

The bears may gain the upper hand if they can sink the price below the $1,289.098 support. If that happens, the ETH/USD pair could correct to the 61.8% Fibonacci retracement level at $1,026.776.

This negative view will invalidate if the bulls can push and sustain the price above the 20-day EMA. If the bulls can propel the price above $1,708.391, the pair may rally to $2,000.

ADA/USD

Cardano (ADA) is currently witnessing a minor correction in an uptrend. The altcoin has formed an inside day candlestick pattern, which indicates indecision among the bulls and the bears about the next move.

ADA/USDT daily chart. Source: TradingView

If the uncertainty resolves to the downside and the bears sink the price below $1.55, a fall to the 20-day EMA ($1.05) is possible. A rebound off this support will suggest that the sentiment remains bullish as the traders continue to buy on dips

If the ADA/USD pair breaks below the 20-day EMA, it will indicate profit-booking by traders. That could pull the price down to $0.9817712 and if this support also cracks, the decline could extend to $0.80.

Contrary to this assumption, if the price turns up from the current levels and the bulls push the pair above $1.30, a retest of $1.4852896 is possible. A breakout of this resistance could resume the uptrend with the next target objective at $1.83.

BNB/USD

Binance Coin (BNB) broke and closed above the downtrend line on March 1. The bears tried to sink the price back below the downtrend line on March 2 but failed, which shows that the short-term correction could be over.

BNB/USDT daily chart. Source: TradingView

The bulls will now try to push the price to $281 where the bears are likely to mount a stiff resistance. If the price turns down from this level, the bears will again try to sink the price to the 20-day EMA ($208). A bounce off this support or $189 could keep the BNB/USD pair range-bound for a few days.

A breakout and close above $281 could ready the pair for a rally to $309.4995 and then a retest of the all-time high at $348.6969. Conversely, if the pair breaks below $189, the decline could extend to the 50-day SMA at $119.

DOT/USD

Polkadot (DOT) has consistently closed in the green for the past five days, which shows that traders continue to buy at each higher level. The rising moving averages and the RSI near the overbought zone suggest an advantage to the bulls.

DOT/USDT daily chart. Source: TradingView

The DOT/USD pair could now rise to the all-time high at $42.2848. If the bulls can drive the price above it, the pair could start the next leg of the uptrend that may reach the psychologically critical level at $50.

Contrary to this assumption, if the price turns down from the overhead resistance, the pair may again correct to the 20-day EMA ($32.27). A break and close below $30 could signal a possible change in trend.

XRP/USD

XRP bounced off the 50-day SMA ($0.41) on March 1 and reached the 20-day EMA ($0.46) today. The bears are currently pushing back at the 20-day EMA. If the price turns down, the altcoin could remain stuck between the moving averages for a few days.

XRP/USDT daily chart. Source: TradingView

This view of a consolidation could invalidate if the bears sink the price below the 50-day SMA. If that happens, the XRP/USD pair could drop to $0.359 where the buyers may step in and provide support.

On the contrary, if the bulls can push the price above the 20-day EMA, the pair may reach $0.50. The bears may try to stall the rally at this resistance, but if the bulls can thrust the price above it, the pair may start its journey to $0.65.

LTC/USD

Litecoin (LTC) has broken above the 20-day EMA ($186) today, which suggests that the bulls are attempting to make a comeback. If the bulls can sustain the breakout, the altcoin could rally to $205 and later to $240.

LTC/USDT daily chart. Source: TradingView

However, the flat 20-day EMA and the RSI just above the midpoint suggest a range-bound action for a few days. If the price turns down from $205, the LTC/USD pair could again drop to $160 and consolidate between these two levels.

The pair could turn negative if the price reverses direction from the current levels and plummets below the uptrend line.

LINK/USD

Chainlink (LINK) bounced off the 50-day SMA ($25.89) on March 1 and broke above the 20-day EMA ($28.37) on March 2. The bears tried to stall the relief rally on March 2 as seen from the long wick on the day’s candlestick.

LINK/USDT daily chart. Source: TradingView

However, the bulls did not give up ground and have again resumed the up-move today. The LINK/USD pair will now attempt to retest the all-time high at $36.9307. A breakout of this resistance could start the next leg of the uptrend that may reach $40 and then $46.

The 20-day EMA has started to turn up and the RSI has jumped into the positive territory, indicating advantage to the bulls. This positive view will invalidate if the price turns down and breaks below the 50-day SMA.

BCH/USD

Bitcoin Cash (BCH) broke above the 50-day SMA ($515) on March 2 and reached the 20-day EMA ($547). However, the bears defended the 20-day EMA as seen from the long wick on the day’s candlestick.

BCH/USD daily chart. Source: TradingView

The flat moving averages and the RSI just below 49 suggest a balance between supply and demand. If the bulls can drive and sustain the price above the 20-day EMA, the BCH/USD pair could rally to $631.71 and then $745.

Contrary to this assumption, if the price again turns down from the current levels, the bears will try to sink the pair below the uptrend line. If they succeed, the pair could extend the decline to the next support at $370.

XLM/USD

Stellar Lumens (XLM) has been trading close to the 20-day EMA ($0.427) for the past few days. A tight consolidation near a resistance usually results in a breakout because it shows that traders are not closing their positions in a hurry.

XLM/USDT daily chart. Source: TradingView

If the bulls can push the price above the 20-day EMA, the XLM/USD pair could rise to the resistance line of the descending channel where the bears may again try to stall the relief rally. If they succeed, the pair could again drop to the 50-day SMA ($0.375) and then to $0.35.

On the contrary, if the bulls push and sustain the price above the descending channel, it will suggest that the correction has ended. The pair could then rise to $0.50 and then to $0.600681.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.

Market data is provided by HitBTC exchange.

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Source: https://cointelegraph.com/news/price-analysis-3-3-btc-eth-ada-bnb-dot-xrp-ltc-link-bch-xlm

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Where can you find the lowest fees on the crypto exchanges?

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A trader in any market, be it stocks, currencies or cryptocurrencies that are currently trending, is surrounded by a multitude of additional costs. These are all kinds of commissions, spreads, swaps, etc. And if you plan your trades incorrectly, such costs can “eat up” the lion’s share of profits or even reduce them to zero (see our crypto currency converter for comparison).

Fees on cryptocurrency platforms

When using the services of a cryptocurrency exchange, a trader has to pay a number of commissions. The most common types of these on the trading floor are:
1. Transaction Fee. This is the most common commission that is charged for deposits or withdrawals at the exchange.
If a cryptocurrency exchange only supports the deposit or withdrawal of cryptocurrencies, then the trader only pays the commission charged by the miners for such transactions. The amount of the commission is usually insignificant in this case.
For transactions with fiat currencies, you have to pay a commission for the use of the payment system. At the same time, the amount of the commission varies depending on the system chosen (bank transfer or something else). In addition, the degree of verification of the merchant account usually also affects the amount of the commission.
2. Commission for closing a trade. This commission on cryptocurrency exchanges is calculated directly when trading, when placing an order. Usually the level fluctuates in the range of 0.1-0.25%, but on some platforms it can even be more than 1% of the trading volume.

Maker and taker

A maker is a trader who opens sales transactions. The name comes from the English word “to make” (to do something). It is assumed that the maker brings his assets to the stock exchange, that is, “makes the market”.
A taker is a trader who buys something. It is assumed that the taker reduces the liquidity of an asset class on the market because after the purchase the asset moves to an external account and is therefore no longer on the market. is available.
Since the maker provides liquidity and the taker takes it away, the amount of the commission for the maker is usually lower than for the taker.
However, there are cryptocurrency exchanges where there are no commissions at all for placing orders. Such sites are becoming increasingly popular, but the liquidity in their trades often leaves a lot to be desired. In addition, to compensate for the lack of trading commission, such sites often charge excessive transaction fees.

Cryptocurrency platforms with minimal fees

The following platforms differ from crypto exchanges in that they have minimal commissions:
ü Binance has the lowest fees among the most popular platforms – at 0.1%, and if you use the exchange’s own tokens, they are even lower.
ü On the HitBTC website, the commission for placing an order for both the maker and the taker is 0.1%.
ü On Bitfinex, the trading commission for the maker is 0.1% and for the taker 0.2%.
ü On io, a maker pays between 0% and 0.16% for placing an order, for a taker the commission is between 0.1% and 0.2%.
ü There is no trading commission for makers on the GDAX and itBit platforms. For takers it is 0.25%.
ü On the Livecoin exchange you will find an option with a commission-free deposit in fiat currency (via the capitalist system). When the trading volume is small, the trading commission is 0.18%.

Under the supervision

There is a wide variety of cryptocurrency platforms offering digital asset trading – from humble exchanges that focus on the local market segment and have different reputations to the top giants that are analogous to the NYSE, LME or the NASDAQ are in the cryptocurrency world. Therefore, every trader can choose an exchange with acceptable commission fees for himself. We wish you every success in such an exciting business as trading in cryptocurrencies.

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Capitalizing on Blockchain’s Promise, Unicly Delivers NFT Fractionalization

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Unicly’s decentralized and permissionless protocol empowers the community to fractionalize, combine, and trade non-fungible token collections through sharding, improving overall NFT accessibility and fungibility through its novel design.

Accompanying Unicswap DEX Attracts Millions In Liquidity

Non-fungible tokens have become all the rage as platforms onboard high-profile artists, entertainers, and evangelists seeking a new way to monetize their collectibles, creations, and works of art.

Yet, the eye-popping auction figures aside, NFTs represent one blockchain area that largely remains inaccessible to wider audiences as surging prices concentrate overall ownership. Moreover, this nascent market’s dynamics don’t correspond to the fungible token market characterized by high liquidity among popular tokens.

By definition, a non-fungible token is not designed to be easily exchangeable. Because an NFT is unique, it ordinarily has a single buyer, contributing to an absence of market depth and almost no real-time liquidity. Accordingly, building an efficient secondary market is difficult, especially given that NFTs all have different values and varying levels of demand.

Despite these very real obstacles, Unicly, led by pseudonymous founder 0xLeia, has unleashed a platform that can fractionalize NFT ownership. Besides granting NFT holders a new channel for monetizing their existing NFT holdings, the protocol can provide liquidity to whitelisted collections while promoting more widespread adoption and participation.

Transforming Non-Fungible into Fungible

Unicly has developed an innovative approach for improving NFT fungibility. Unlike other projects in the space, this anonymous, self-funded initiative has introduced sharding to the equation. Sharding effectively splits a blockchain network into multiple parts to process transactions quicker while adding scalability.

In Unicly’s case, each NFT gallery can be a shard, distancing itself from other competing solutions which shard each NFT individually. The new protocol will allow users to create and fractionalize NFT collections from NFTs minted in either of Ethereum’s ERC-721 and ERC-1155 standards. Each collection is independently named and configured before settings, including token supplies and tickers, are determined for each gallery.

Once the corresponding NFTs are moved from a user’s wallet to smart contracts, uTokens (with the ticker mentioned above) are issued. After a preset percentage amount of uTokens are staked, the collection is unlocked for bidding.

Building Up NFT Liquidity

Secondary market liquidity has been the Achilles heel of NFT trading platforms, but Unicly has devised a cunning answer where others have failed. Taking a page out of decentralized finance’s book, the platform has introduced Unicswap, a fork of the popular Uniswap protocol. This AMM DEX helps users stake their uTokens and other cryptocurrencies to farm UNIC, the native Unicly token, through liquidity pooling.

Since unveiling the mainnet just days ago, the platform has already garnered significant popularity. According to figures, Unicswap attracted $3.5 million worth of liquidity to whitelisted pools in just four days. Additionally, 24-hour volume of $1 million puts competition SuperRare squarely in Unicly’s sights. After reaching nearly one-quarter of the competing platform’s monthly transaction volume in mere days, the total capitalization of NFTs in Unicly’s marketplace has now topped $20 million.

Proving beyond a doubt that its model is valuable, some significant collections have already joined the platform. uMask, a collection of 85 hashmasks, has reached a value of approximately $16 million, marking a 16-fold increase in the valuation from its original listing at $1 million. The first gallery listed on the platform, uUNICLY experienced similar exponential growth after listing 3 branded NFTs, rising from $300 to an astounding $180,000.

Another gallery, titled uLEIA, was built as an homage to the anonymous founder of the protocol by combining 0xLeia’s profile picture with AI-generated content. The platform has also appealed Chris McCann, a National Geographic award-winning photographer who listed his uCM collection of NFTs and other noteworthy collections from DokiDoki, MoonCats, WAIFU, and Nubians.

Taken together, Unicly’s fresh approach to NFTs is already demonstrating that a better model for community engagement and egalitarian participation exists, thanks in large part to sustainable incentives and valuable user-centric features.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.newsbtc.com/news/company/capitalizing-on-blockchains-promise-unicly-delivers-nft-fractionalization/

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Riot Blockchain Bitcoin production jumps 80% over pre-halving levels

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The company said it held more than $94 million in crypto as of March 31, all from Bitcoin it has mined.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://cointelegraph.com/news/riot-blockchain-bitcoin-production-jumps-80-over-pre-halving-levels

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