Kraken: Litecoin has chances to repeat the bull cycle 2017 of the year

Cryptocurrency exchange Kraken investigated the network indicators of Litecoin and noted the likelihood of an asset repeating the indicators of the bull market 2017 of the year

In the next report, Kraken emphasized, that in December 2017 year the LTC rate in just a month increased by 638% – с $50 to $369. Now LTC gives signals, similar to those that foreshadowed its sharp rally at the time.:

"Activity in the Litecoin network shows an increase in demand and the possibility of entering the next wave of growth.. Besides, the asset remains below the overbought zone.".

Один из наиболее важных показателей – количество активных адресов, which has been in a strong uptrend for almost a year:

"The number of active addresses has been in an uptrend since December. 2020 of the year, that is, there is an increasing activity in the network against the background of the growth of the rest of the market. Besides, recently, the growth in the number of active addresses has gone up sharply, which was the most rapid increase in activity since April 2021 of the year".

The number of new Litecoin addresses with non-zero balance is also growing.:

« 7-day moving average of new addresses (with non-zero balance) is at an all-time high 308 827. It recently surpassed the previous high in 270 000 (Observed 9 October)».

In addition, Kraken investigated Litecoin's MVRV metrics (determine the overvaluation of an asset relative to its fair value). Reportedly, now Litecoin is far from the overbought zone even despite the recent exchange rate growth:

"The current MVRV indicators of LTC are slightly higher. 2. The overbought level is at the mark 7 (i.e, he is now in 3,5 times lower)».

The cryptanalyst thinks, that December will be a bullish month

Cryptocurrency analyst Justin Bennett believes, that December could be a month of rallying in the cryptocurrency market, and Ethereum (ETH) and Dogecoin (DOGE) potentially lead it

According to him, dollar index (DXY), which compares the dollar with a basket of other fiat currencies, gives a bullish signal for the crypto market. Continue reading “Криптоаналитик считает, что декабрь станет бычьим месяцем”

Investment company Kelly wants to launch a futures ETH ETF

Three months ago, ProShares and VanEck withdrew applications to launch Ethereum futures ETFs, but the investment company Kelly Strategic Management was not deterred by this development and it filed its own application with the SEC for approval of a similar product.

Kelly Ethereum Ether Strategy ETF will be an actively managed fund, investing in ETH contracts with cash settlement, traded on listed commodity exchanges.

Currently the Chicago Mercantile Exchange (CME) is the only platform, where ETH futures are traded. The current limits on ETH futures contracts are 8000 contracts per month (каждый контракт – это 50 ETH). If the Kelly Fund Chooses These Limits, then will invest in long-term ETH contracts or additional fixed income products, for example, government bonds or corporate debt securities.

In August, VanEck and ProShares abruptly withdrew their documents for ETH futures ETFs., what indicates a possible refusal on the part of the SEC.

Last month, two bitcoin futures ETFs from ProShares and Valkyrie were approved.. The head of the SEC, Gary Gensler, said, that such funds provide sufficient investor protection.

Omicron Altcoin Course (OMIC) is growing rapidly

As known, more recently, markets have collapsed due to a new kind of COVID-19 called Omicron (OMIC), but, this did not prevent the token with the same name from growing rapidly

Now 1 OMIC is trading slightly higher $460, showing a daily increase in 137%. Compared to the minimum 17 November increased 735%. Continue reading “Курс альткоина Omicron (OMIC) стремительно растет”

Cryptanalyst told about the nearest prospects 5 popular altcoins

Cryptocurrency analyst with the nickname Altcoin Sherpa spoke about the potential levels of decline, which can be achieved 5 popular altcoins

According to him, polkadot blockchain (DOT) there is a chance to face a significant increase in demand in the event of an overlap of the 200-day exponential moving average (EMA):

"On the DOT, I expect the continuation of consolidation in the region $30 – $40, as it supports the 200-day EMA, namely at $32".

The sandbox blockchain gaming ecosystem looks promising (SAND) and the analyst hopes for the ability to enter the asset at a level of about $5:

"This asset is one of the few, which are worth buying on the fall of the rate. The strongest assets are repaied faster than others..

Третий альткоин в списке аналитика – CRO, on the basis of which the trading platform of the Crypto.com operates. Altcoin Sherpa considers, that CRO has support on low timeframes:

"According to CRO I expect the bottom at around $0.6".

Analyst closely monitors the platform of smart contracts Oasis Network (ROSE), working in the field of confidentiality for open finance. In his opinion, THE ROSE course can grope the bottom nearby $0,29:

"Not a bad first reaction to $0,618 [Fibonacci level]. I would like to see consolidation at the mark $0,618, and then you can form a solid bottom.".

And closes the list of the platform in the field of payment infrastructure COTI. COTI is now using the 200-day EMA as support. ($0,37), but another sale may cause the asset to fall to $0,3:

"The first significant pressure on the 200-day EMA. I think, that here it will be possible to find a short-term bottom".

Cryptostrategist considers, that the correction of BTC is almost complete

Cryptocurrency strategist with nickname Smart Contracter considers, that Bitcoin is almost ready to recover. He also pointed out a potential bottom for Ethereum.

According to him, bitcoin gives signals, that the correction is almost complete:

"So far, there are no signs of an immediate reversal., but I suppose, that we saw the final volumes of surrender. Continue reading “Криптостратег считает, что коррекция BTC практически завершена”

DEX trading volumes for November approached $100 billions

Data on decentralized exchanges (DEX) per month show, that the trading volumes of the ecosystem in November were almost $100 billion

According to The Block, as of 28 November trading volumes were almost $99,5 billion. Monthly trading volumes have grown significantly since reaching the annual minimum $56,35 billion (observed in July). November figures have already exceeded October, which equaled $89,15 billions.

As expected, на популярные биржевые протоколы Uniswap v3 и v2 пришлась основная часть месячного объема торгов – $47,37 billion and $24,07 billion respectively.

According to CoinGecko, on Uniswap v3 the most active trading pair usdC/ETH, which accounted for about $654,4 million daily trading volume. Remarkably, that the total daily trading volumes on the same site amounted to $1,49 billion.

Наиболее высокие объемы торгов на DEX наблюдались в мае – тогда децентрализованные площадки сообщили о суммарном объеме в $162,83 billion.

Promising altcoin for 4 months increased by 15 000%

Created on the basis of Ethereum altcoin in the field of play-to-earn in just for 4 Months soared on 15 000%, which helped its capitalization to exceed the mark of $1 billion

UFO Gaming Project (UFO) was launched in July and during this period the token rate jumped from the initial level $0,00000035011 on 15 379%, getting to $0,00005418. Only in the last week, the altcoin rate has increased by 150%.

The team behind the project says, that its ecosystem intends to target the community and will include a wide range of unique planets:

"In the case of the discovery of a new planet, the new game will not be long in coming.. Each game will be dedicated to one planet with its own economy.

The team also highlighted UFO Gaming's priorities.:

"UFO Gaming is a decentralized gaming platform, where everyone can choose their favorite genre and earn. Ownership of assets is entirely determined by users. Gaming Assets (NFT and currency) can be transferred from one platform to another. The play-to-earn game economy is transparent and sustainable»

Token holders can earn so-called "plasma points" with the help of staking, and the largest holders have a say in the DAO and can determine the future of the UFO metaverse.

Now the capitalization of the UFO Gaming project exceeds $1,3 billion.

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6 altcoins go against the market, showing decent height

One of the cryptocurrency directions went against the trend in the market and 6 altcoins representing it have shown explosive growth

BTC is still trying to get back above the mark $60 000, but altcoins related to games and virtual reality show good profitability. Continue reading “6 альткоинов идут вразрез с рынком, показывая приличный рост”

Elrond rapidly broke into the top 10 DeFi-projects

The new project quickly broke into the top 10 of the rating in terms of blocked value (TVL) and it only took him a week to do it.

According to DeFi Llama, Elrond first-level smart contract platform, using a WASM virtual machine, is now the 10th largest DeFi ecosystem with TVL at the level of $2,06 billion.

Elrond's main network was launched in July 2020 of the year. Previously, the project was in no hurry to attract developers, but now shows rapid growth against the background of a large-scale liquidity mining program on the decentralized exchange Maiar. 19 November Maiar announced a liquidity mining program for the amount of $1,29 billion, out of which $282 millions will be distributed in the first month.

The reward will be paid in a Maiar management token called MEX, the rate of which has grown to $0,001345. During the year will be distributed 5,44 trillion MEX and now the cost of the initiative is $7,32 billion, which could become the largest liquidity mining program in the history of DeFi (subject to the stability of the token exchange rate).

Elrond Network CEO Benjamin Mincu noted, that the initial distribution of MEX tokens to EGLD holders helped to increase the pace of use of the project:

«60 000 EGLD holders were able to become holders of MEX tokens before the launch of the site. Maiar has had an impressive number of users since day one and continues to grow."

As competition between tier one projects grows, they are increasingly turning to large-scale incentive programs, to attract users and funds.

According to Minku, Elrond now has functioning crosschain bridges with Ethereum, BSC, Polygon, Avalanche, Fantom and Tron. In the coming months, the project will have many interesting innovations., including lending and synthetic assets.