2022 is coming to an end, and our staff at NewsBTC decided to launch this Crypto Holiday Special to provide some perspective on the...

Key Takeaways Crypto was crushed across the board, with all of the top 10 coins getting hammered LUNA...

Bitcoin retail investor numbers are on the rise. These smaller investors have less purchasing power but with so many new entrants into the market...

What does it take to be a fintech analyst? You have to be willing to get things wrong on occasion. Along with that,...

Heroic’s win at the Blast Premier Fall Final saw them take a big step towards securing their first World Finals title when they secured...

A week could not be more important for Bitcoin and the broader crypto market! On Tuesday, at 08:30 ET, there will be the release...

Ahmad Abu Daher is only 22 years old, yet he’s already making a handsome living as a bitcoin miner in his home country of Lebanon. Ahmad Abu Daher Is...

This is an opinion editorial by Sydney Bright, a professional science writer on the topic of health benefits from mindfulness-based practices.Where is technology taking...

Anita Chandran reviews Horizons: a Global History of Science by James Poskett “Modern...

In this episode of NewsBTC’s daily technical analysis videos, we flip the Bitcoin price chart upside down to get a unique perspective on the market. Take a look at the video below: VIDEO: Bitcoin Price Analysis (BTCUSD): October 27, 2022 We also examine a weekly buy signal on BTCUSD using the Relative Strength Index, and show several examples of the signal’s effectiveness using Bitcoin and other assets. Related Reading: Bitcoin Bollinger Band Breakout Starts To Squeeze Shorts | BTCUSD Analysis October 26, 2022 Inverted Bitcoin Price Chart Could Suggest Bear Market Is Over When price action seems confusing, inverting the chart of any asset can help to remove bias and provide a clearer picture. Looking at BTCUSD from this perspective, it sure looks like a retest of horizontal support turned resistance. There is also an ongoing breakdown of an uptrend line. But remember, everything is upside down. On higher timeframes, diagonal downtrend resistance remains intact. We can also clearly see very similar price action across the last major “top” which is actually the 2018 bear market bottom. When you flip things right side up again, does Bitcoin really look all that bearish? Bitcoin bulls can turn that frown upside down | Source: BTCUSD on TradingView.com Related Reading: Are Bitcoin Bulls Ready To Stampede? | BTCUSD Analysis October 25, 2022 BTCUSD Weekly RSI Buy Signal Days Away From Confirming Moving along, we also have a potential buy signal on the weekly Relative Strength Index. This one is particularly important, as this is how the tool’s creator intended it to work. The buy signal happens when a higher high is made on the RSI, after reaching oversold conditions and holding above oversold territory on a subsequent bounce.  It does help that BTCUSD weekly is also working on breaking out of downtrend RSI resistance also at the very same time. Looking back at past Bitcoin bottoms, we can see that it was this exact buy signal that put in each bottom on weekly timeframes. We can also see there is a cyclical rhythm to when each downtrend has come to its conclusion. Cyclical timing could suggest crypto winter is over | Source: BTCUSD on TradingView.com Related Reading: Can Bitcoin Bring An End To Crypto Winter? | BTCUSD Analysis October 24, 2022 The End Of The Dollar Rally Could Conclude Crypto Winter If that was a RSI buy signal on the BTCUSD weekly, what we are about to see is a sell signal on the RSI via the DXY weekly. The sell signal on the Dollar Currency Index is beginning to break down from a diagonal RSI support line, and break down from its ongoing parabola.  Putting the DXY and Bitcoin chart side to side, we can see that there are directly opposing signals on each chart. Watch the full video for the complete analysis and more comparisons. The dollar and BTC are giving opposite signals | Source: BTCUSD on TradingView.com Learn crypto technical analysis yourself with the NewsBTC Trading Course. Click here to access the free educational program. Follow @TonySpilotroBTC on Twitter or join the TonyTradesBTC Telegram for exclusive daily market insights and technical analysis education. Please note: Content is educational and should not be considered investment advice. Featured image from iStockPhoto, Charts from TradingView.com

The post A Deep Dive Into The Growing NFT Ecosystem And Some Of The Unique Innovations appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide

Non-fungible tokens (NFTs) have skyrocketed in popularity within the past year, eclipsing $23 billion in total volumes over the course of 2021. According to the latest DappRadar report, NFTs have continued with a similar trend this year, with the number of unique traders and sales increasing by 8% and 2%, respectively.  These metrics come as …

The current DeFi market is bearish as most of the tokens are priced low compared to previous months. A bear market can be caused by a variety of events, including bursting market bubbles, a poor or lagging or sluggish economy, wars, geopolitical crises, pandemics, and significant paradigm shifts in the economy, such as changing to an internet economy. Another reason can be the isolation between NFTs and DeFi space. Let’s see how NFTs can help revitalize the bearish DeFi cycle. Isolation between NFTs and the DeFi space Looking back, we can see that NFTs and DeFi protocols have worked separately in the past. However, the current bearish moves in the Defi market may be corrected by the widespread adoption of NFTs.  This is because NFTs have the capacity to assign value to nearly any object. DeFi, on the other hand, aids in the unlocking of a certain asset’s worth. When combined together, they can balance each others’ strengths and weaknesses and enhance their capabilities. Application of NFTs to the DeFi world NFTs help revolutionize the DeFi world because of the following reasons Allow for customizable and exact roles for the community members involved such as ‘avatars’ in the Metaverse games and ‘validators’ for any DeFi protocol/blockchain like Cardano. Make a distinction between the cost of government authority and the cost of native tokens. It’s possible to make DeFi a gamification land. Protocols that can fine-tune scarcity and utility-based value. Solves the illiquidity issue with veTokens The intersection of NFTs and DeFi This section will cover a few cases where the intersection of NFTs and DeFi looks promising- Uniswap v3: The only way to introduce concentrated liquidity into Uniswap v3 was to tokenize distinct LP positions. This innovative adjustment resulted in more use, resulting in higher revenues for LPs. Curve Finance- Solidly Exchange: veCRV’s Curve Finance problem was solved by Solidly exchange. Solidly enabled the lock of tokens for ve governance tokens to be tokenized, allowing for a single lock position and several lock positions with different time durations. BinaryDAO.finance: BinaryDAO.finance, a yield DAO, reinvented APR boosting by releasing a collection of 2,500 NFTs with a 25% APR for stakers. In comparison to the status quo of depending on physical locks, the release earned revenue for bootstrapping liquidity and making APR increases liquid. Nacho Finance: Nacho Finance, an algorithmic stable coin technology, is expanding its ecosystem to include a fun and engaging game. Their Luchador NFTs will allow gambling on NFT bouts and reinforce the peg by acting as a black hole for their token’s upgrades. $NACHO Final thoughts UniSwap v3 and Solidly, for example, are very different from NFT assets with defined amounts that are distributed, such as BinaryDAO and Nacho Finance. Both protocols, however, have one thing in common: they both aim to improve the protocol user’s experience. The construction of Defi protocols is significantly influenced by the techniques employed by UniSwap v3 and Solidly. However, the innovation fostered by NFT assets and the related value addition should not be underestimated. Whether you like it or not, widespread integration between DeFi-NFTs is coming.

The post Is it possible for NFTs to revive the present bearish DeFi cycle? appeared first on Cryptoknowmics-Crypto News and Media Platform.