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Crypto101 - What is DeFi & Blockchain ?Hi Traders, Investors and Speculators📈📉 Ev here. Been trading crypto since 2017 and later got into stocks. I have 3 board exams on financial markets and studied economics from a top tier university for a year. Whether you've just gotten into crypto trading or you're trying to expand your knowledge on what this space has to offer; this post is for you! Decentralized finance or DeFi, is a financial ecosystem based on blockchain technology. So lets recap, what Is a blockchain exactly? Blockchain is a software technology, it is basically computer coding that creates a usable service like an app or website for the public. Most blockchains are entirely open-source software. This means that anyone and everyone can view its code. The first-ever implementation of Blockchain was originally written in C++ (coding language). Blockchain and it's possible use cases was first introduced to the world in the Bitcoin Whitepaper, written by the infamous Satoshi Nakamoto (the pseudonym used by the creator or creators of BTC). A blockchain is an online database that is shared to many computer networks. This means that if one computer in the network fails, the data is unaffected and transactions carries on. It is not dependent on one single data storage facility. As a database, a blockchain stores information electronically in digital format. A blockchain collects information in groups, known as blocks, that holds many sets of information (like time of transactions, amounts etc.). Blocks have certain storage capacities and, when filled, are closed and linked to the previously filled block, forming a chain of data known as the blockchain. An online database usually structures its data into tables, whereas a blockchain, as its name implies, structures its data into "3D chunks" (blocks) that link to each other. For easy reference and transparency, each block in the chain is given an exact timestamp when it is added to the chain. The revolutionary innovation idea behind blockchain is that it guarantees the truthfulness and security of data and generates trust without the need for a government/private institution to validate it. Back to DeFi - In centralized finance , your money is held by banks and corporations whose main goal is to make money . The financial system is full of third parties who facilitate money movement between parties, with each one charging fees for using their services. The idea behind DeFi was to create a system that cuts out these third parties, their fees and the time spent on all the interaction between them. Defi is a technology built on top of blockchain - it can be an app or a website for example, which means that is was written in code language by software programmers. It lets users buy and sell virtual assets (like crypto and NFT's) and use financial services as a form of investment or financing without middlemen/banks. This means you can borrow, lend and invest - but without a centralized banking institution. In summary, DeFi is a subcategory within the broader crypto space. DeFi offers many of the services of the mainstream financial world but controlled by the masses instead of a central entity. And instead of your information being filed on paper and stored by a banker, your information is captured digitally and stored in a block with your permission. Many of the initial DeFi applications were built on Ethereum (which is a blockchain technology, but the code is different to Bitcoin's, in other words it operates/works differently). The majority of money in DeFi remains concentrated there. Lending may have started it all, but DeFi applications now have many use cases, giving participants access to saving, investing, trading, market-making and more. A prime example of such a market is PancakeSwap (CAKEUSDT). PancakeSwap is a decentralized exchange native to BNB Chain (Binance chain). In other words, it shares some similarities with established platforms like UniSwap in that users can swap their coins for other coins. The only difference is that PancakeSwap focuses on BEP20 tokens – a specific token standard developed by Binance . The BEP20 standard is essentially a checklist of functions new tokens must be able to perform in order to be compatible with the broader Binance ecosystem of dapps, wallets and other services. PancakeSwap uses liquidity pools instead of counterparties/orders from other traders. A liquidity pool in this context refers to funds deposited by investors – which can be anyone from around the world – into smart contracts for the aim of providing liquidity to traders. With this system, buyers do not have to wait to be matched with sellers, or vice versa. Whenever someone wants to trade one token for another, they simply deposit the token they have into the pool and withdraw the other token they wish to receive. That said, PancakeSwap is not just for swapping coins. You can also take up the role of a liquidity provider (that is, you can deposit tokens in a liquidity pool for the chance of earning a share of trading fees paid by those trading against the pool in question). Yield Farming is another income-generating opportunity available on PancakeSwap. With this, you can farm for a token called CAKE. So why would you want a token? Tokens are like the money video-game players earn while killing monsters, money they can use to buy gear or weapons. I personally love collecting my Glimmer in Destiny 2. But with blockchains, tokens aren't limited. They can be earned in one way and used in lots of other ways. They usually represent either ownership in something or access to some service. For example, in the Brave browser, ads can only be bought using basic attention token (BAT). I think I'll cover more on this in another post, otherwise this will become a too long read. Final Thoughts 💭 Even though banks are slow and inefficient (to name only a few of the problems), there is still something that comes with using a bank that crypto cannot (yet fully) offer - guarantees and peace of mind. At least at this point. I believe in a future where blockchain is easily accessible, open but at the same time protects user privacy, transparent, decentralized and safe. But the truth is, we're still far away from that. Blockchain is in its infancy, being used by too many opportunists and crooks. So be careful when you invest in DeFi. The beautiful dream of blockchain still contains too many scammers that have no intention of cutting out banks; instead they want to get to the bank FIRST. __________________________ 👀Follow us here on TradingView for daily updates and trade ideas on crypto , stocks and commodities 📉 Hit like & Follow 🔔 We thank you for your support ! CryptoCheck
Education
by CryptoCheck-
59
How #HEDRON can still 10X versus #HEX !!!!!I give this projection , a good more than outline of a possibility in price action of the Hex hedron pair, which are so intrinsically linked Not only in functionality, code but also community aka monetary flows. #Elliot wave correction A-> B -> C Into the OA supplied hex liquidity 19087 #HDRN per HEX is the start of a large liquidity wall --- which should provide support selling may travel into wall , but unlikely beyond the wall Which sets the charts perfectly for a large Cup and handle into the end of the Year (with excitement growing around HSI auctions ... we have a fundamental driver) 10 cent HEX would roughly equate to a hedron dollar value of $0.00006
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by BallaJi
#HEDRON Head and shoulders target met! UP 34X Incredible action in this bear market. I expect some sort of pullback as it is also the 0.786 Fib retracement level Congratulations to those followers who caught any part of this run... Is it over? for now maybe, as some rest is likely before a challenge and break of new all time highs Much like #NFT's have a floor price I believe Hedron has an underlying roof price linked to the #HEX price ... which will act as a magnet (and also barrier) Roughly linked to the amount of value one is able to extract making an encapuslated HEX stake on this platform. And minting the entirety of the hEdron upfront (Advance Mint Rewards function) There is some divergence on the momentum... which has been astounding btw, nothing short of a MOONSHOT, and the way it has been riding the bollinger bands was almost textbook perfect As mentioned in previous videos , Hedron is a long term keeper with great product market fit in the #defi ecosphere, and will surpass the 1 Billion dollar market --- when? to be determined . The current market cap is $311M and ranked #122 on nomics ... and yet ignored by the wider #crypto community Another reason why investing in and around HEX is laden with so many opportunities ... rather than being sold overhyped pump and dumps by influencers.
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by BallaJi
Commence The PumpHello Friends Since August 14th Eth has been moving down slowly in what I believe is a beautiful flag (or corrective channel pattern as I like to call it). These corrective channels show up across every asset on Higher and lower time frames. In fact, almost every multi year bear market correction resembles these channel like structures. From Bitcoin during the 2017 Bear Market, to AMZN during the Dot com crash, this pattern has distinct characteristics such as: 1. A quick move down with no consolidation or definitive peak formed. (Notice how on August 14th Eth Dropped after only a day and a half of consolidation). This isnt always the case in every pattern. 2. Choppy behavior 3.Usually includes one or multiple rallies between moves down (People call these bear market Rallies) 4.Usually consists of 2-4 lows formed in the channel before reversing and breaking to the upside. Now back to this current Eth corrective channel on the lower time frames that we're looking at. I believe we're at the tail end of one of these corrections I described above and 1 of 2 things happen in the near future; 1.The 2 fresh lows the channel has put in are adequate, the pattern is complete, and Eth gets sent back above $2,000. 2.Eth decides "Hey lets give these mfers some more pain" and puts in a third low in the channel around $1200-$1300, before completing the pattern and sending us back above 2k. The only reason I have so much conviction in this outcome of $2000+ eth again soon, is because I've seen these corrective channel patterns play out hundreds of times in Crypto, stocks, forex, medals, and even NFT charts...Over several years. But What would invalidate this pattern you ask? A Straight spike down from here to around $1000 would destroy the channel and invalidate the trade for me. But I would be shocked if that happened. Cheers guys, Hope this helped.
KRAKEN:ETHUSDLong
by Brenvest
10
Crucial support for Makerdao!This support is crucial for Makerdao to continue the uptrent. This 750$ price goes whole the way back to 2018, it did not hold it there & leadet to a multi year bearmarket. If it breaks this year below 700$ another multi year bearmarket is guaranteed. They anyway nailed Makerdao to the ground from 6k, no words to discribe how insane this is. Project like YFII are even higher valued, i mean this is Makerdao we are talking here about. In what world a shitcoin like YFII could be higher valued in 2022 then Makerdao?? Anyway, Makerdao complete hammered down from 6k to 700$ INSANE! We must keep support, if not the floor is the limit!
COINBASE:MKRUSD
by UnknownUnicorn27344900
7
HEX vs HEDRON ... where is it going? Let me show you. Been tracking this ratio since it's inception, and it's been fascinating watching these two assets circle and oscillate versus each other Yet there is still more Hedron strength to come in my opinion. From six figures per Hedron for one HEX to where it made a double top (and head and shoulders) to the pattern completion target of 13k... which I believe will happen shortly (caveat being the overall crypto space is green to stable)
HShort
by BallaJi
1
The Bitcoin BounceBitcoin is clearly showing signs of an uptrend. Her highs and lows have steadily increased giving great opportunities for short term swings. Currently, she has pulled back to 23,200. If she can stay above 22,400 and close bullish this could be another great time to buy. You may question what timeframe I'm entering on. Or, how long will I hold the trade or what my stop loss will be. Let me be quick and simple. #1 I'm trend trading here. I'm going to trade with the flow of the uptrend hence why I am looking for a buy. #2 I'm taking profits on the way up back to the highs and further. #3 My stop loss will be located in an area where if price reverses I reverse with it. Lastly, I'll enter on the daily timeframe because this is where I analyzed this setup. I hope that was easy to follow. Speaking of following, be sure to follow me here on Tradingview. Now go be great. Go on now!!!
COINBASE:BTCUSDLong
by ShaquanLopez
August 17 BTCUSD BingX Chart Analysis and Today's HeadlineBingX’s Bitcoin Chart According to Glassnode, the Number of Ethereum addresses in profit (7d MA) just reached a 3-month high of 5224410.732. Bitcoin is almost flat over the past 24 hours. The largest cryptocurrency attempted to sustain above the psychological resistance at $25,000 for the past three days, but the price could not sustain the higher levels, indicating a loss in upside momentum. If the bears push the price below the 20-day EMA ($23,512), the BTC/USDT pair could find support at $22,000. Today’s Cryptocurrency Headline Aave Says On-Chain Wallet Address Censorship will Require DAO Consensus DeFi lending protocol AAVE stated that wallet monitoring due to government sanctions cannot be implemented at the smart contract level unless the community agrees. Aave said: “As for on-chain, contract-level as it applies to the Aave Protocol, the Aave smart contracts are decentralized — no one person or entity can change, control, update or shut down the protocol. For any change to occur to the protocol, an AIP would have to be proposed, voted on, and approved by the Aave DAO.” The DeFi lender also clarified that the recent block on wallet addresses with indirect Tornado Cash interactions only occurred on its front-end app. Disclaimer: BingX does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company. BingX is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the article.
by BingX
$ETH/USD 1W (#Coinbase) Huge rising wedge on supportEthereum is falling sharply while RSI is printing new ATL, time to be opportunist and place some juicy bids on 300MA and below! Current Price= 1030.88 Buy Entry = 915.64 - 739.86 Take Profit= 1265.98 | 1632.40 | 1998.81 Stop Loss= 534.62 Risk/Reward= 1:1.5 | 1:2.75 | 1:4 Expected Profit= +52.94% | +97.21% | +141.47% Possible Loss= -35.41% Fib. Retracement= 0.236 | 0.382 | 0.5 Margin Leverage= 1x Estimated Gain-time= 1 year Tags: #ETH #ETHUSDT #WETH #Altcoin #PoW #Eth2 #PoS #Governance #SC #DApp #DeFi Website: ethereum.org Contracts: #Mainnet #ERC20 0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2 #BEP20 0x2170ed0880ac9a755fd29b2688956bd959f933f8 #BEP2 ETH-1C9 #AVAXC 0xf20d962a6c8f70c731bd838a3a388d7d48fa6e15 #SPL 2FPyTwcZLUg1MDrwsyoP4D6s1tM7hAkHYRjkNb5w6Pxk
COINBASE:ETHUSDLong
by TradingOn