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DODO (DODO) Token Analysis 28/04/2021Fundamentals: DODO is a Chinese decentralized finance (DeFi) protocol and on-chain liquidity provider whose unique proactive market maker (PMM) algorithm aims to offer better liquidity and price stability than automated market makers (AMM). The PMM pricing mechanism, which mimics human trading, utilizes oracles to gather highly accurate market prices for assets. It then provides enough liquidity close to these prices in order to stabilize the portfolios of liquidity providers (LP), lower price slippage and negate impermanent loss by allowing arbitrage trading as reward. DODO also caters for new crypto projects with a free ICO listing through its Initial DODO Offering (IDO) which requires issuers to only deposit their own tokens. DODO’s smart contract operates as an ERC20 token on the Ethereum network. DODO positions itself as one of the most competitive liquidity providers that offers very low transaction fees and price slippage through its PMM algorithm, first conceived in April 2020. The team claims their PMM algorithm provides superior pricing over that of AMM competitor Uniswap due to a flatter price curve. The PMM collects funds near market prices to establish enough liquidity, which drops quickly the further the price moves from the market price. DODO automatically adjusts market prices in order to attract arbitrage that will help keep liquidity provider portfolios stable. This ensures more favorable pricing, higher fund utilization and decreased price slippage, single risk exposure and no impermanent loss (explained here). For traders, DODO offers sufficient liquidity comparable to that of centralized exchanges (CEX), which can be natively used by smart contracts for on-chain transactions such as liquidation and auctions. Arbitrageurs can also take advantage of price differences between DODO and other exchanges. Liquidity providers are not required to make a minimum deposit and are not restricted on the type of asset they provide. LPs can create their own trading pairs, deposit their own tokens to negate price risk and also collect a portion of DODO transaction fees as rewards. DODO also attracts new crypto projects with a free listing as an Initial DODO Offering (IDO). Unlike AMM protocols, DODO does not require quote tokens, and IDO projects only need to deposit their own tokens to the liquidity pool, after which the PMM creates its own ask-side depth. To start an IDO, a project needs to only set the oracle price to a constant. Liquidity is improved by depositing more quote tokens. Dodo was officially launched in August 2020, founded by Diane Dai, Radar Bear and an anonymous development team. It initially attracted a $600,000 seed round led by Framework Ventures. The team announced in September 2020 that it had successfully completed an additional $5 million private sale funding round, led by Pantera Capital, Binance Labs and Three Arrows Capital. The private sale round also attracted investment from several other prominent venture capital firms, cryptocurrency exchanges and trading firms that include Coinbase Ventures, Galaxy Digital, CMS Holdings and Alameda Research. The live DODO price today is $3.47 USD with a 24-hour trading volume of $74,507,965 USD. DODO is up 7.79% in the last 24 hours. The current CoinMarketCap ranking is #143, with a live market cap of $383,444,464 USD. It has a circulating supply of 110,551,965 DODO coins and a max. supply of 1,000,000,000 DODO coins. Technical Analysis: The Chart what we are Analyzing now is new Chart and does not Contain the Past DATA but yet we can have some Targets Based on the Fibonacci Extension Levels as we can see there exist a Bullish Divergence of Price and MACD which is the sign of Bullish Trend Reversal where it seems to be right now.
Long
by BitonGroup
4
KAVA (Kava.io) Token Analysis 27/04/2021As We have Analyzed, Purchased the Token and Took Position on the Futures of This Token Earlier... Fundamentals: Kava is a cross-chain DeFi lending platform that allows users to borrow USDX stablecoins and deposit a variety of cryptocurrencies to begin earning a yield. The Kava DeFi hub operates like a decentralized bank for digital assets, allowing users to access a range of decentralized financial services, including its native USD-pegged stablecoin USDX, as well as synthetics and derivatives. Through Kava, users are able to borrow USDX tokens by depositing collateral, effectively leveraging their exposure to crypto assets. Built on the Cosmos blockchain, Kava makes use of a collateralized debt position (CDP) system to ensure stablecoin loans are always sufficiently collateralized. If a borrower fails to maintain their collateral above a required threshold, the Kava liquidator module will seize collateral from failing CDPs and send it to the auction module for sale. In addition to Kava's USDX stablecoin, the Kava blockchain also includes the native KAVA token. This is a utility token used for voting on governance proposals and also functions as a reserve currency for when the system is undercollateralized. Kava differentiates itself from other similar decentralized lending platforms thanks to its support for cross-chain assets. Thanks to Cosmos’ zones technology, Kava users will be able to deposit a wide array of native assets, including Bitcoin (BTC), XRP, Binance Coin (BNB) and Binance USD (BUSD). But for now, cross-chain assets must be wrapped as Binance Chain (BEP2) assets. Likewise, Kava also allows users to earn a yield by minting its USDX stablecoins. Once minted, these USDX tokens can be contributed to Kava's money market, known as HARD Protocol, earning the user a variable APY while their collateral remains secured by Kava. Kava users can run their own staking node to earn KAVA rewards directly from the protocol. However, only the top 100 Kava nodes (also known as validators) are eligible to receive these rewards. Beyond this, KAVA holders can stake their tokens on a variety of compatible exchange platforms, like Binance and Huobi Pool. Beyond this, users can earn regular KAVA rewards by minting USDX on the platform. The system also employs several mechanisms to burn KAVA tokens, helping to reduce the circulating supply. What can the Kava token (KAVA) do? The Kava token serves three main functions: 1.Governance 2.Security 3.Recapitalization For governance, KAVA holders can participate, vote, and propose changes to the Kava protocol. These changes can take the form of smart contract modifications, adjustments to the global debt limit, or the addition or removal of collateral assets, among other considerations. Voting can be conducted either directly or delegated to validators. The numerous implemented and proposed changes can be viewed freely on Kava’s governance page. In terms of security, KAVA is used to validate transactions on the network. The protocol’s Proof of Stake (PoS) consensus mechanism enables KAVA token holders to stake their tokens and validate transactions. The top 100 stakers, determined by their proportion of staked KAVA, are designated as validators. Rewards are paid to these validators in KAVA derived from transaction fees and block rewards to incentivize proper validation of the system. Non-performance or improper validation results in the reduction of these rewards. Finally, there is KAVA’s role as a reserve currency for recapitalization. In the event that the Kava protocol becomes undercollateralized, additional KAVA tokens are minted by the protocol and sold for USDX through auctions. This occurs until the system returns USDX to its target peg of 1 U.S. dollar. Similarly, if the Kava protocol is sufficiently collateralized, the stability fees (paid in KAVA) from loans/collateralized debt positions (CDP) are burned. This reduces the token’s supply and increases its scarcity and value. In this way, proper governance results in KAVA’s appreciation and vice versa. Kava is built on Cosmos, and uses a Tendermint-based proof-of-stake (POS) consensus mechanism to ensure the integrity of the network. This uses a network of validator nodes for confirming transactions. These validator nodes must put up collateral to take up the duty of validating transactions. If validators misbehave or fail to meet rigorous minimum requirements, their stake will be penalized — thereby incentivizing validators to remain honest and efficient. Kava's smart contracts have been audited by multiple independent blockchain and crypto security firms, including CertiK, B-Harvest and Quantstamp. To date, no vulnerabilities have been found. Kava Labs, Inc., the parent company behind Kava, was co-founded by Brian Kerr, Ruaridh O'Donnell and Scott Stuart. Brian Kerr is the current CEO of the platform and previously worked as an advisor for several blockchain and crypto platforms, including Snowball and DMarket. Kerr has had a varied and successful career and was educated in business administration. Ruaridh O'Donnell, an MSc Physics graduate, is listed as Kava's second co-founder and is a former engineer and data analyst at Levelworks. The final Kava co-founder is Scott Stuart, a former professional poker player who currently works as a product manager at Kava Labs. Kava Labs also lists a dozen other employees and contractors, arguably the most prominent of which is Denali Marsh — an experienced smart contract developer and auditor who occupies the role of blockchain engineer at Kava. The KAVA token first launched in 2019 following several private sales and a Binance Launchpad initial exchange offering (IEO). In total, 40% of KAVA tokens were sold to private sale investors, whereas 6.52% of the total supply was sold on Binance Launchpad — raising ~$3 million. Of the remaining KAVA token supply, 25% was allocated to Kava Labs shareholders, whereas the final 28.48% is assigned to the Kava Treasury — to be used for growing the Kava ecosystem. As of November 2020, almost 47 million KAVA tokens are in circulation, out of the current maximum supply of 111.5 million tokens. However, since KAVA is inflationary, this maximum supply increases over time — by between 3% to 20% per year, depending on the proportion of KAVA tokens that are staked. The maximum supply can also increase if KAVA needs to be minted to ensure the market remains sufficiently collateralized. As per projections made by Binance, the KAVA token should reach 100% dilution by October 2022. The live Kava.io price today is $4.82 USD with a 24-hour trading volume of $81,159,916 USD. Kava.io is up 11.39% in the last 24 hours. The current CoinMarketCap ranking is #166, with a live market cap of $282,289,646 USD. It has a circulating supply of 58,524,186 KAVA coins and the max. supply is not available. Technical Analysis: the Token has done its accumulation Phase followed by distribution it 2 Impulsive cycles and currently it is at the Golden Area of the Fibonacci Retracement Zone, there chances that The price Keeps its retracement going to the lower level of 78.6% which is a very strong Support for the price, as we can see there exist a Hidden Bullish Divergence of the Price and MACD signal and line, which is a good sign of Bullish Trend Continuation. after the retracement cycles gets over and the bearish trend reverse to the Bullish rally, so does it start its 3 impulsive cycle. there are total 3 Targets defined by Fibonacci Projection of the first impulsive wave, the 3 TP gets its confirmation as soon as the price Triggers the 2 TP which is the 161.8% (extension) level of the same Projection followed by some price correction and retracement.
Long
by BitonGroup
6
Dash Coin Analysis 09/03/2021this is an update of our initial analysis which we got the TP Achieved and now updating it with more descriptions Dash is an open-source blockchain and cryptocurrency focused on offering a fast, cheap global payments network that is decentralized in nature. According to the project's white paper, Dash seeks to improve upon Bitcoin (BTC) by providing stronger privacy and faster transactions. Dash, whose name comes from "digital cash," was launched in January 2014 as a fork of Litecoin (LTC). Since going live, Dash has grown to include features such as a two-tier network with incentivized nodes, including "masternodes," and decentralized project governance; InstantSend, which allows for instantly settled payments; ChainLocks, which makes the Dash blockchain instantly immutable; and PrivateSend, which offers additional optional privacy for transactions. According to its website, the goal of Dash is "to be the most user-friendly and scalable payments-focused cryptocurrency in the world." To accomplish this, the project relies on a network of masternodes, which are servers backed by collateral held in Dash that are designed to provide advanced services securely and governance over Dash's proposal system. In exchange for part of the block rewards, masternodes provide a second layer of services to the network. They facilitate functions such as InstantSend, PrivateSend and ChainLocks. Dash is marketed to both individual users and institutions, including merchants, financial services, traders and those who need to send international remittances. In October 2020, Dash Core Group reported that its strategic objectives moving forward include building its ecosystem and brand, ensuring that users are satisfied and further advancing the technology behind the network. Dash's governance system, or treasury, distributes 10% of the block rewards for the development of the project in a competitive and decentralized way. This has allowed the creation of many funded organizations, including Dash Core Group. In addition, the Dash Foundation, which advocates for the adoption of the cryptocurrency, receives donations and offers paid individual and institutional memberships. Technical Analysis: as we can see this coin has past from the its Accumulation Zone and started its rally, there exist a Hidden Bullish Divergence with MACD Histogram which is the sign of trend Continuation earlier we had Projected Our Past Target using Fibonacci Projection Tool where the Price has Touched the 61.8% (Extension Level) and retraced back down to 100% or parallel legs, so we can be sure about the 161.8% of the same Fibonacci projection which is our 1 TP, 2TP is 261.8% of the same Projection and we can be optimistic about it when the price retraces from our 1TP and start its Major Impulsive wave.
Long
by BitonGroup
17
BNB Seem to be Worth of Purchase Now 25/02/2021BNB was launched through an initial coin offering in 2017, 11 days before the Binance cryptocurrency exchange went online. It was originally issued as an ERC-20 token running on the Ethereum network, with a total supply capped at 200 million coins, and 100 million BNBs offered in the ICO. However, the ERC-20 BNB coins were swapped with BEP2 BNB on a 1:1 ratio in April 2019 with the launch of the Binance Chain mainnet, and are now no longer hosted on Ethereum. BNB can be used as a payment method, a utility token to pay for fees on the Binance exchange and for participation in token sales on the Binance launchpad. BNB also powers the Binance DEX (decentralized exchange). You cannot mine BNB as you would a proof-of-work cryptocurrency, since the Binance Blockchain uses the Byzantine Fault Tolerance (BFT) consensus mechanism. Instead, there are validators that earn from securing the network by validating block Before BNB migrated to Binance Chain, Binance performed coin burns on the Ethereum network using a smart contract burn function. The amount of coins that Binance burns is based on the number of trades of the exchange over three months. Since the Binance Chain launch, BNB coin burns no longer take place on the Ethereum network and now use a specific command on Binance Chain, as opposed to a smart contract the live Binance Coin price today is $244.82 USD with a 24-hour trading volume of $5,214,310,297 USD. Binance Coin is down 9.64% in the last 24 hours. The current CoinMarketCap ranking is #3, with a live market cap of $37,833,042,747 USD. It has a circulating supply of 154,532,785 BNB coins and a max. supply of 170,532,785 BNB coins. Technical: there are total of 3 TPs which the second Target is like a triger for the 3TP
Long
by BitonGroup
6
SUSHI (SushiSwap) Token Analysis 29/03/2021Fundamentals: SushiSwap (SUSHI) is an example of an automated market maker (AMM). An increasingly popular tool among cryptocurrency users, AMMs are decentralized exchanges which use smart contracts to create markets for any given pair of tokens. SushiSwap launched in September 2020 as a fork of Uniswap, the AMM which has become synonymous with the decentralized finance (DeFi) movement and associated trading boom in DeFi tokens. SushiSwap aims to diversify the AMM market and also add additional features not previously present on Uniswap, such as increased rewards for network participants via its in-house token, SUSHI. SushiSwap primarily exists as an AMM, through which automated trading liquidity is set up between any two cryptocurrency assets. Its main audience is DeFi traders and associated entities looking to capitalize on the boom in project tokens and create liquidity. AMMs do away with order books entirely while avoiding problems such as liquidity issues, which hamper traditional decentralized exchanges. SushiSwap aims to improve on the offerings of its parent, Uniswap, by increasing the impact users can have on its operations and future. The platform takes a 0.3% cut from transactions occurring in its liquidity pools, while its SUSHI token is used to reward users portions of those fees. SUSHI also entitles users to governance rights. SushiSwap was founded by the pseudonymous entity known only as Chef Nomi. Little is known about Chef Nomi, or his or her impetus for forking off from Uniswap. The project has two other pseudonymous co-founders, sushiswap and 0xMaki, also known as just Maki. Between them, they handle SushiSwap’s code, product development and business operations. More recently, de facto ownership of SushiSwap was passed to Sam Bankman-Fried, CEO of derivatives exchange FTX and quantitative trading startup Alameda Research. Bankman-Fried is a well-known participant and cryptocurrency market commentator, regularly appearing in media interviews. SushiSwap attempts to mitigate the traditional risks of depositing funds in smart contracts by upping the governance powers of its users. The anonymity of its developers poses questions beyond a technical standpoint. In September 2020, for example, Chef Nomi was involved in a spat with users after withdrawing 38,000 in Ethereum (ETH) from SushiSwap. The funds were subsequently returned, with Chef Nomi publicly apologizing for doing so and calling the move a mistake. SushiSwap’s in-house token SUSHI is created at a rate of 100 tokens per block. The first 100,000 blocks had a block reward of 1,000 SUSHI. The supply of SUSHI will depend on the block rate. At approximately 6,500 per day, and therefore 650,000 newly-minted tokens per day, there will be roughly 326 million tokens in circulation by September 2021, a year after SushiSwap first launched. SUSHI had no premine, and began to be minted at Ethereum block number 10,750,000, beginning with a supply of zero tokens. Technical analysis: as we can see the price is on the retracement to the lower Levels and apparently we can have a touch on the 61.8% Fibonacci retracement, which can end the distribution and start some Accumulation for the stronger impulsive wave. there are total of 2 targets defined by the Fibonacci expansion of the initial impulsive wave.
Long
by BitonGroup
10
Euro Currency Index (EXY) Analysis 10/03/2021there exist a very steep Bearish Divergence between the price and MACD and Its Histogram, which is the sign of trend reversal. the price has already broken the low bond of the ascending parallels Channel where it was rallying earlier. price has retested the Support line and it didn't stand after the second attempt and now turned to resistance, which is a very important sign of the trend change and index fall we can target the golden zone of the Fibonacci retracement of the impulsive wave in order to find the depth of the price correction and retracement.
TVC:EXYShort
by BitonGroup
4
CRO (Crypto.com Coin) Token Analysis 28/07/2021Fundamental Analysis: Crypto.com Coin (CRO) is the native cryptocurrency token of Crypto.com Chain — a decentralized, open-source blockchain developed by the Crypto.com payment, trading and financial services company. Crypto.com Chain is one of the products in Crypto.com’s lineup of solutions designed to accelerate the global adoption of cryptocurrencies as a means of increasing personal control over money, safeguarding user data and protecting users’ identities. The CRO blockchain serves primarily as a vehicle that powers the Crypto.com Pay mobile payments app. In the future, Crypto.com plans to expand the reach of the CRO platform to power its other products as well. CRO went live in November-December 2018. CRO blockchain is mainly focused on providing utility to the users of Crypto.com’s payment, trading and financial services solutions. CRO owners can stake their coins on the Crypto.com Chain to act as a validator and earn fees for processing transactions on the network. Additionally, CRO coins can be used to settle transaction fees on the Crypto.com Chain. Within the framework of the Crypto.com Pay payments app, users can get cashback of up to 20% by paying merchants in CRO and up to 10% by purchasing gift cards and making peer-to-peer transfers to other users. When it comes to trading use cases, the Crypto.com App allows users to earn token rewards for select listings by staking CRO. Additionally, users can earn annual interest of up to 10-12% on their Crypto.com Coins by staking them on either the Crypto.com Exchange app or Crypto.com’s metal Visa Card. Overall, CRO acts as an instrument that powers Crypto.com’s drive to increase the adoption of cryptocurrencies on a global scale. As such, the company is continuously working on finding and developing new use cases that will allow users to leverage the cryptocurrency to enhance the control they have over their money, data and identities. CRO is built on top of Ethereum’s (ETH) blockchain according to the ERC-20 compatibility standard, which means that its network is secured by the Ethash function. Crypto.com Coin was launched by the Crypto.com company as part of its vision of “putting cryptocurrency in every wallet.” Crypto.com itself was founded in June 2016 as “Monaco Technologies GmbH” by Kris Marszalek, Rafael Melo, Gary Or and Bobby Bao. Kris Marszalek, an alum of the Polish Adam Mickiewicz University, has founded and headed three companies prior to starting Crypto.com: consumer electronics design and manufacturing business Starline Polska, location-based service mobile app and platform YIYI and the e-commerce firm BEECRAZY. Rafael Melo earned his bachelor’s degree in engineering from the PUC-Rio. Over his more than 15-year-long career in finance, Melo has worked with major companies in Asia and helped secure over 50 million AUD in funding for the Ensogo social commerce website. Gary Or is a software engineer with over nine years of fullstack engineering experience. Prior to co-founding Crypto.com, Or worked as platform architect at Ensogo and co-founded the mobile app development firm Foris. He received his bachelor’s degree in engineering, computer science from the University of Hong Kong. Before helping launch Crypto.com, Bobby Bao worked in the M&A department of the China Renaissance investment bank. Bao has studied at the University of Melbourne, NYU Stern School of Business and the College of William & Mary. The total supply of CRO is limited to 30 billion coins (following 70 billion CRO burned in 2021), all of which were created when the blockchain went live — making it a non-mineable cryptocurrency. The total supply of CRO will be allocated for five different purposes: 30% — Secondary distribution and launch incentives - released in batches on a daily basis over five years from November 14, 2018; 20% — Capital reserve - frozen until Nov, 7, 2022; 20% — Network Long-Term Incentives - frozen until Nov. 7, 2022; 20% — Ecosystem grants - frozen until the launch of Crypto.com Chain Mainnet; 10% — Community development. The live Crypto.com Coin price today is $0.123236 USD with a 24-hour trading volume of $41,467,222 USD. Crypto.com Coin is up 5.78% in the last 24 hours. The current CoinMarketCap ranking is #30, with a live market cap of $3,113,312,195 USD. It has a circulating supply of 25,263,013,692 CRO coins and a max. supply of 30,263,013,692 CRO coins. Technical Analysis: as we can see there exist a Hidden Bullish Divergence with MACD which is the sign of bearish trend reversal and as the price is currently reaccumulating at the 78.6% retracement level of Fibonacci which is a very powerful Pivot level and can turn the trend from bearish to bullish. there are 3 targets defined for the upcoming Bullish Cycles Fibonacci projection where the 3 TP gets its confirmation as the 2 TP gets triggered followed by some retracement and price correction
Long
by BitonGroup
9
EURAUD (Euro/Australian Dollar) Currencies Analysis 04/06/2021we have earlier analyzed this currency Pair and have already achieved the First target of our Past Analysis: Technical Analysis: We draw the Fibonacci retracement from the high to low of the bearish cycle in monthly timeframe and defined the levels. What we think that there are two scenarios. First: EURAUD is consolidating and accumulating above monthly 38.2% Fib retracement therefore it continues its uptrend movement 61.8% and 78% monthly Fib retracement. where we have defined the Targets and they are 1 to 3 TPS consequently. Second: the price might fall and goes to some down swing which we have defined the targets by the Fibonacci Expansions but we are mainly bullish on the Pair
by BitonGroup
3
CRV (Curve DAO) Token Analysis 31/05/2021we are holding Positions on this Token from this Point: we have defined 2 Paths for Scaling IN and OUT: Fundamentals: Curve is a decentralized exchange for stablecoins that uses an automated market maker (AMM) to manage liquidity. Launched in January 2020, Curve is now synonymous with the decentralized finance (DeFi) phenomenon, and has seen significant growth in the second half of 2020. In August, Curve launched a decentralized autonomous organization (DAO), with CRV as its in-house token. The DAO uses Ethereum-based creation tool Aragon to connect multiple smart contracts used for users’ deposited liquidity. Issues such as governance, however, differ from Aragon in their weighting and other respects. Curve has gained considerable attention by following its remit as an AMM specifically for stablecoin trading. The launch of the DAO and CRV token brought in further profitability, given CRV’s use for governance, as it is awarded to users based on liquidity commitment and length of ownership. The explosion in DeFi trading has ensured Curve’s longevity, with AMMs turning over huge amounts of liquidity and associated user profits. As such, Curve caters to anyone involved in DeFi activities such as yield farming and liquidity mining, as well as those looking to maximize returns without risk by holding notionally non-volatile stablecoins. The platform makes money by charging a modest fee which is paid to liquidity providers. Curve carries the standard risks associated with depositing funds in smart contracts and dealing with AMMs, namely impermanent loss. As Curve only supports stablecoins, the risk of markets moving too quickly is reduced, but users can still lose money once markets are rebalanced to reflect cross-market prices. Curve has been audited, but this does not do anything to counter the risks involved in being exposed to a specific cryptocurrency. The founder and CEO of Curve is Michael Egorov, a Russian scientist who has various experience with cryptocurrency-related enterprises. In 2015, he co-founded and became CTO of NuCypher, a cryptocurrency business building privacy-preserving infrastructure and protocols. Egorov is also the founder of decentralized bank and loans network LoanCoin. Curve’s regular team is part of the CRV allocation structure, and will receive tokens according to a two-year vesting schedule as part of the initial launch plan. In August 2020, Egorov said that he “overreacted” by locking up a large amount of CRV tokens as a response to yearn.finance’s voting power, awarding himself 71% of governance in the process. Curve (CRV) launched in August 2020, along with the Curve DAO. Its purpose is to function as a governance medium, incentive structure and fee payment method, along with long-term earnings method for liquidity providers. The total CRV supply is 3.03 billion tokens, the majority of which (62%) are distributed to liquidity providers. The remainder is divided as follows: 30% to shareholders, 3% to employees and 5% to a community reserve. The shareholder and employee allocations come with a two-year vesting schedule. CRV had no premine, and the gradual unlocking of tokens means that around 750 million should be in circulation one year after launch. he live Curve DAO Token price today is $1.76 USD with a 24-hour trading volume of $156,254,939 USD. Curve DAO Token is up 1.73% in the last 24 hours. The current CoinMarketCap ranking is #101, with a live market cap of $646,590,324 USD. It has a circulating supply of 366,466,815 CRV coins and a max. supply of 3,303,030,299 CRV coins. Technical Analysis: the current Market fall caused CRV to Fall at its 78.6% Level of Fibonacci Retracement and it has already showed some good support. there are high chances that the Price start its new Rally and shoot for the Higher Targets soon after some reaccumulation on this zone. the Reaccumulation may take some time and we can see some renege Bounding at this area but it will ultimately go for the Specified targets even after some more retracement to the lower level. we can see a hidden Bullish Divergence with MACD which is the sign of bullish trend Continuation. the Targets are defined by the Fibonacci projection of the Impulsive wave followed by its Lowest point of retracement till date.
Long
by BitonGroup
9
DENT (Dent) Token Analysis 27/05/2021Fundamentals: Launched in 2017, Dent is a revolutionary digital mobile operator offering eSIM cards, mobile data plans, call minutes top-ups and a roaming-free experience. According to the company website, Dent employs blockchain technology’s powers to create a global marketplace for mobile data liberalization. Dent has an ambitious roadmap ahead, with plans to expand its services to new markets by the end of 2021. The company has already attracted more than twenty-five million mobile device users, and Dent services are available in more than 140 countries. Enterprise partnerships for Dent include Samsung Blockchain, The Enterprise Ethereum Alliance and Telecom Infra. Dent is a revolutionary player in the market of mobile communications and data services. Today, around half of the world’s population has restricted access to mobile services because of the high prices traditional mobile carriers offer. Dent brings in the power of blockchain technology to revolutionize this and provide global access to mobile airtime and data. Dent eliminates the understanding that your mobile data is tied to your location by becoming a global digital mobile operator. Dent offers plans that suit today’s global citizens’ needs by removing roaming fees and introducing international mobile plans. Everything on the Dent platform is purchased through DENT tokens, meaning that all transactions are recorded on the blockchain, and there is no chance for a customer to pay for something and not receive it. Unlike traditional mobile operators, Dent aims to make mobile airtime and data available globally to anyone interested, regardless of their location. DENT is an Ethereum based ERC-20 token. This means that the Dent platform operates thanks to the proof-of-stake (PoS) consensus method. Unlike Bitcoin, which utilizes the proof-of-work (PoW) consensus mechanism, Dent relies on large stakeholders to become nodes and transaction validators. The benefits of PoS consensus mechanisms are many, but the most prominent include increased scalability and reduced electrical and computing power consumption. Considering this, many platforms are looking to utilize the Ethereum blockchain to launch their products. Dent is one of the pioneer projects to launch an ERC-20 token back in 2017. Tero Katajainen is the founder and CEO of DENT Wireless. He acquired a master’s degree diploma in sciences from Tampere University of Technology in 1999. After graduating, he became a system administrator and java programmer at the university. In 2001, Katajainen became the CTO of Genetics AG, and in 2003 he founded Pocket Indian Software Solutions. Katajainen served as a senior Java/Android consultant for the United Nations in 2015. He has multiple awards and honorary achievements in the field of technology. Mikko Linnamäki is a co-founder of DENT Wireless. Since 2000 he has been an active entrepreneur and businessman. With five successful businesses before founding Dent, Linnamäki introduces himself as a “serial web-entrepreneur and Internet software pioneer.” His most long-standing business venture is Smartseed GmbH, which has been successfully operating since late 2000. Since then, Linnamäki participated in the founding of DEVCOT, one of the largest open-source IMAP servers globally. According to the company whitepaper, there is a maximum supply of 100 billion DENT tokens. The total circulating supply at the time of writing is 93,690,412,211 DENT tokens. Of the total supply, 8.6 billion DENT tokens were sold at a fixed price of $0.0005 per token during the company’s initial coin offering (ICO). 30% of all DENT tokens remain at the company for strategic acquisitions and market seeding, user incentives, salaries and bonuses. The remaining 70% of the token supply was released during pre-sale and sale events, and any outstanding tokens were locked up and released quarterly after that. The live Dent price today is $0.004486 USD with a 24-hour trading volume of $70,555,679 USD. Dent is up 13.71% in the last 24 hours. The current CoinMarketCap ranking is #119, with a live market cap of $439,586,432 USD. It has a circulating supply of 97,998,841,249 DENT coins and the max. supply is not available. Technical Analysis: As you can see this Token has done its retracement to the below 78.6% level of Fibonacci Retracement which is a very Important Fibot Point and can Pivot the Price Back to the bullish Trend. we have defined 3 targets based on the Fibonacci Projection of the initial impulsive cycle. the 3 Target gets confirmed as the Price Triggers the 2 TP which is the extension level 161.8% of the Fibonacci Projection and it makes the 3 Target Secured.
Long
by BitonGroup
20
GBPJPY (British Pound/Japanese Yen) Currencies Analysis 09/05/21here is our Previous Analysis and Markey Tracking of the Currency Pair: Fundamental Analysis: The GBP/JPY pair tells the trader how many Japanese Yen (the quote currency) are needed to purchase one British Dollar (the base currency). It is known to be a “carry currency cross”, that is a cross which is a vehicle for carry trading, a strategy that consists in buying a high yielding currency and funding it with a low yielding currency, similar to the adage "buy low, sell high." ASSETS THAT INFLUENCE GBP/JPY THE MOST The GBP/JPY pair can also be impacted by: Currencies: USD and EUR. This group also includes the following currency pairs: EUR/USD, GBP/USD, USD/JPY, AUD/USD, NZD/USD, USD/CAD and EUR/JPY. Commodities: Oil. Bonds: Gilt (debt securities issued by the Bank of England), GJGB10 (Japan Generic Govt 10Y Yield) and T-Note (Treasury Note, a marketable U.S. government debt security). Indices: FTSE 100 (share index of the 100 companies listed on the London Stock Exchange with the highest market capitalization), Nikkei 225 (stock market index for the Tokyo Stock Exchange), Dow Jones (DJIA, Dow Jones Industrial Average, an index that shows how 30 large publicly owned companies based in the United States have traded during a standard trading session in the stock market). ORGANIZATIONS, PEOPLE AND ECONOMIC DATA THAT INFLUENCE GBP/JPY The organizations and people that affect the most the moves of the GBP/JPY pair are: Bank of England, known to be one of the most effective central banks in the world. It acts as the government's bank and the lender of last resort. It issues currency and oversees monetary policy (including interest rates). Bank of Japan that issues statements and decides on the interest rates of the country. The BoJ has been applying very low interest rates for many years and even introduced a negative interest rate in January 2016, in an attempt lift consumer prices, which have been sliding for most of the past 20 years. UK Government and its Prime Minister, Boris Johnson who took office in July 2019, after British citizens voted for the withdrawal of the UK from the European Union (Brexit). Japanese Government and its Prime Minister Yoshihide Suga, elected in September 2020 to replace the outgoing leader Shinzo Abe, Japan's longest-serving Prime Minister. UK GDP (Gross Domestic Product), the total market value of all final goods and services produced in a country. It is a gross measure of market activity because it indicates the pace at which a country's economy is growing or decreasing. Generally speaking, a high reading or a better than expected number is seen as positive for the GBP, while a low reading is negative. Technical analysis: As you can see in Daily chart, GBPJPY show Hidden Bullish Divergence With MACD. the price have range Bounded between 148.50 and 153.50 for about two months Now. the currency pair is consolidating and Reaccumulating above Fibonacci golden zone, we Believe that GBPJPY might breakout the the resistance area level, in order to get ready and to shoot for TP1 ( 155.13) and ultimately higher targets levels, which are specified by Fibonacci Projection. as the market have not done any correction for a while which may lead to some temporary Retracement in the other scenario it is better to monitor the pair for a while and get ready for the break out for any Position Taking.
Long
by BitonGroup
8
NANO (Nano) Coin Analysis 03/05/2021Fundamentals: Billed as "digital money for the modern world," Nano is a lightweight cryptocurrency that is designed to facilitate secure, practically instant payments, without fees, and addresses some of the major limitations of both legacy financial infrastructure, and many modern cryptocurrencies. Development of the project began in 2014 under the name RaiBlocks, and the coin (then termed XRB) launched the following year through a public faucet, which allowed users to claim small amounts of XRB after completing a captcha challenge. Users were allowed to complete as many captchas as they liked to increase their words — effectively trading their time and effort for XRB. RaiBlocks (XRB) was rebranded to Nano (NANO) in January 2018, with the new name chosen to better represent the speed and simplicity the project offers to users. It is a peer-to-peer platform that uses a unique block-lattice data structure to allow users to easily transfer value to one another without relying on centralized intermediaries. Unlike other platforms which typically use the combined proof-of-work of a massive mining network to achieve consensus, Nano instead uses a system known as Open Representative Voting (ORV) — which sees account holders vote for their chosen representative, who then work to confirm blocks of transactions securely. ORV makes Nano extremely energy efficient, positioning it as a more environmentally friendly alternative to proof-of-work (POW)-based cryptocurrencies. As we previously touched on, Nano is designed to be fast. So fast, in fact, that most Nano transactions reach absolute finality within less than a second — compared to several minutes or even longer for many other major cryptocurrencies. This speed makes Nano suitable for commercial payments, since merchants and retailers no longer need to worry about transaction delays when accepting payments. Moreover, Nano transactions are completely free. Since representatives do not receive financial compensation for their efforts to secure the network, there is no need for a transaction fee. This makes Nano an ideal solution for processing micro-transactions, since users no longer need to worry about fronting a potentially expensive transaction fee when making small payments. These features are enabled by its unique architecture. Unlike many cryptocurrencies which are built on top of a distributed ledger known as a blockchain, Nano is instead built around a similar ledger technology called a directed acyclic graph (DAG). This structure is highly reliable and allows Nano to process as many as 1,000 transactions per second (tps) — without requiring an energy-intensive mining network to maintain its integrity, positioning Nano as an eco-friendly digital payment option. Nano is secured by a network of representatives, each of which is voted into position by NANO holders. These representatives are responsible for casting their votes when the network needs to achieve consensus, and their voting power is the sum total of the voting weight delegated to them by NANO holders. These vote on the validity of transactions on the Nano network, ensuring only valid transactions are confirmed. This process protects the network against a type of attack known as a double spend—which occurs when an attacker is able to manipulate the network to effectively spend the same funds twice. In addition, the Nano network features a wide variety of additional defenses against various possible attack vectors Nano was founded by Colin LeMahieu, a heavily experienced software developer and engineer with a wealth of experience working for prominent tech companies, including Dell, AMD and Qualcomm. Self-described as an inventor, LeMahieu has interests that range from space technology to physics and environmental sustainability, and is a well-known name in the digital currency space. He began working full time on Nano in 2017 and remains the CEO of the Nano Foundation — an organization created to drive the development and adoption of the Nano — to this day. Colin LeMahieu also pushed the vast majority of commits to Nano’s GitHub repo. Beyond LeMahieu, the Nano Foundation has over a dozen other employees, including George Coxon, a graduate in Evolutionary Anthropology and experienced account executive, and the current COO of the foundation. Like the vast majority of cryptocurrencies, Nano has a fixed maximum number of tokens that will ever enter existence, this number is set at exactly 133,248,290 NANO. The original maximum supply was set much higher than this, but any remaining NANO tokens above the current 133 million limit were permanently burned. In total, around 39% of the original genesis supply was distributed. Nano is unusual in the fact that its entire supply is already in circulation, this means it is fully diluted. Because it is fully diluted, Nano is also highly decentralized, and well distributed, with the vast majority of Nano accounts holding less than 100 NANO. As of December 2020, around 20% of all Nano in circulation (~26 million) is held in one of the cold wallets associated with the Binance cryptocurrency exchange. A total of 5% of the circulating supply was held back for the continued development of the project, this was allocated to a so-called “developer fund.” The live Nano price today is $10.49 USD with a 24-hour trading volume of $237,230,830 USD. Nano is down 6.70% in the last 24 hours. The current CoinMarketCap ranking is #84, with a live market cap of $1,397,776,939 USD. It has a circulating supply of 133,248,297 NANO coins and a max. supply of 133,248,298 NANO coins. Technical Analysis: The Coin has done its Initialization and Accumulation followed by some Bullish cycles and Reaccumulation phases, Currently the Price is in an Impulsive cycle to the higher levels. Few support levels are defined Price Action which are having confluences by Fibonacci Retracement Levels of Price from its ATH. There are total of 3 Targets defend by the Fibonacci Projection of the initial Move UP.
NLong
by BitonGroup
8
HNT (Helium) Coin Analysis 03/05/2021As we have Analyzed, Invested on this Coin earlier and ultimately Achieved our Past 3 Targets on it, so we are Updating the new Targets: Fundamental Analysis: Helium (HNT) is a decentralized blockchain-powered network for Internet of Things (IoT) devices. Launched in July 2019, the Helium mainnet allows low-powered wireless devices to communicate with each other and send data across its network of nodes. Nodes come in the form of so-called Hotspots, which are a combination of a wireless gateway and a blockchain mining device. Users who operate nodes thus mine and earn rewards in Helium’s native cryptocurrency token, HNT. Helium’s goal is to prepare IoT communication for the future, identifying inadequacies in current infrastructure from its birth in 2013. Helium aims to improve the communication capabilities of wireless Internet of Things (IoT) devices. In 2013, infrastructure around IoT was still in its infancy, but developers wanted to add decentralization to their offering, hence referring to it as “The People’s Network” in official literature. Its core appeal will be to device owners and those interested in the IoT space, with financial incentives providing further outreach possibilities. Network participants purchase Hotspots — a combination of a wireless gateway and a miner — or build their own. Each hotspot provides network coverage over a certain radius, and also mines Helium’s native token, HNT. The network runs on proof-of-coverage, a new consensus algorithm based on the HoneyBadger BFT protocol which allows nodes in a network to reach consensus when connection quality is highly variable. In addition to HNT, users pay transaction fees in a separate token called Data Credits, which are not exchangeable and tied to individual users themselves. Helium uses a bespoke consensus mechanism called proof-of-coverage (PoC) which rewards users for contributing to mining (validating transactions) and ensuring stability. PoC is based on the HoneyBadger BFT protocol, which is specifically designed for node communication when conditions are unreliable. Helium says that the most likely attack vector impacts node operators in the form of inbound ports of Hotspots. For token holders, the platform’s own wallet uses asymmetric keys to help users with private key security. Helium’s three co-founders Amir Haleem, Shawn Fanning and Sean Carey started the company in 2013. Haleem has an active eSports and game development background. Fanning, by contrast, is well known for developing Napster, the music sharing service which was one of the first mainstream peer-to-peer (P2P) internet services in the late 1990s. Carey meanwhile held multiple development roles prior to Helium, which included advertising optimization firm Where, acquired by PayPal. Helium’s team now consists of members which the company says have experience in “radio and hardware, manufacturing, distributed systems, peer-to-peer and blockchain technologies.” Approximate mining periods of 30 to 60 minutes unlock rewards which are distributed according to a changing growth plan. Helium explains that at the start, node owners will accrue more HNT for building out network infrastructure, while later on, it will be more advantageous to transfer device data. This adjustment mechanism for token distribution is expected to last for around 20 years. As of the start of October 2020, there are 48,712,218 HNT in circulation. When the token launched, the supply was zero, with no premine. The live Helium price today is $18.96 USD with a 24-hour trading volume of $40,934,793 USD. Helium is up 10.09% in the last 24 hours. The current CoinMarketCap ranking is #79, with a live market cap of $1,536,186,921 USD. It has a circulating supply of 81,039,235 HNT coins and a max. supply of 223,000,000 HNT coins. Technical Analysis: the Coin has done its initialization and Accumulation Phase followed by some Reaccumulation and distribution on its Past Impulsive cycles which is the Good sign of Price Correction and well Established Value and Price infrastructure. There exist a Hidden Bullish Divergence of Price and MACD, which is the sign of Bullish Trend Continuation. Few Support areas are also defined by Price Action which are having Confluences with Fibonacci Retracement of the initialization to the ATH. 3 Targets are Defined by Fibonacci Projection of the initial Impulsive cycle and its Retracement. the 3 TP gets its confirmation as the Price Triggers the 2 TP followed by Some Price Correction.
HLong
by BitonGroup
10
AAVE (Aave) Token Analysis 30/04/2021Fundamental Analysis: Aave is a decentralized finance protocol that allows people to lend and borrow crypto. Lenders earn interest by depositing digital assets into specially created liquidity pools. Borrowers can then use their crypto as collateral to take out a flash loan using this liquidity. Aave (which means “ghost” in Finnish) was originally known as ETHLend when it launched in November 2017, but the rebranding to Aave happened in September 2018. (This helps explain why this token’s ticker is so different from its name!) AAVE provides holders with discounted fees on the platform, and it also serves as a governance token — giving owners a say in the future development of the protocol. Aave has several unique selling points when compared with competitors in an increasingly crowded market. During the DeFi craze in the summer of 2020, it was one of the biggest projects in terms of the total value of crypto locked in its protocol. The project allows people to borrow and lend in about 20 cryptocurrencies, meaning that users have a greater amount of choice. One of Aave’s flagship products are “flash loans,” which have been billed as the first uncollateralized loan option in the DeFi space. There’s a catch: they must be paid back within the same transaction. Another big selling point is how those who borrow through Aave can alternate between fixed and variable interest rates. While fixed rates can provide some certainty about costs during times of volatility in the crypto markets, variable rates can come in handy if the borrower thinks that prices will fall in the near future. Aave’s open-source protocol is built on Ethereum, a blockchain that is currently making the transition from Proof-of-Work to Proof-of-Stake. Aave, and its predecessor ETHLend, were founded by Stani Kulechov. At the time, he was frustrated at the lack of lending applications on Ethereum — and his project was built before decentralized finance even existed. Kulechov is a serial entrepreneur who went to law school and began programming when he was a teenager. He was an early adopter in the blockchain space. The CEO has said that he wanted to rebrand ETHLend as Aave so the company could offer a wider range of services beyond Ether lending. According to Kulechov, Aave’s main target market are people who are already engaged in the cryptocurrency community. Circulation is linked to the total value locked on Aave, as tokens are burned whenever the protocol gathers fees. An initial coin offering was held in November 2017, where $16.2 million was raised by selling one billion AAVE tokens at a rate equivalent to $0.0162 a piece. At the time, 23% of AAVE tokens were assigned to its founders and project. AAVE tokens have been built based on the ERC-20 standard, and they are designed to be deflationary. In the event of a shortfall in the DeFi protocol, staked tokens would be used as collateral as a last resort. In July 2020, Aave unveiled plans to hold a token swap. This means that the 1.3 billion AAVE tokens in circulation would be swapped for the newly minted AAVE cryptocurrency at a ratio of 1:100, creating a total supply of 16 million AAVE. (Three million of this would be held in reserve.) The live Aave price today is $436.70 USD with a 24-hour trading volume of $589,636,972 USD. Aave is down 3.64% in the last 24 hours. The current CoinMarketCap ranking is #29, with a live market cap of $5,453,541,942 USD. It has a circulating supply of 12,488,046 AAVE coins and a max. supply of 16,000,000 AAVE coins. Technical Analysis: The Token has Done its Initialization and Accumulation and currently Range bounding after some Distribution. There are total of 3 Targets Defined by Fibonacci Projection of the Initial Impulsive cycle. 3 TP gets confirmed as the Price Triggers the 2 TP which is the 161.8% (Extension) Level of the Fibonacci Projection followed by some Retracement and Price Correction.
Long
by BitonGroup
16
DNT (district0x) Token Analysis 30/04/2021Fundamentals: Billed as a "network of decentralized markets and communities," district0x is a platform that allows users to easily launch their own decentralized platforms which are governed by a decentralized autonomous organization (DAO) structure. Each of these platforms is termed a “district” and can be launched free of charge on the district0x. The ecosystem is powered by the custom d0xINFRA framework, which provides a set of basic smart contracts and libraries users can use when building out their districts — enabling a wide array of potential use-cases. The native token of the district0x ecosystem is DNT — an ERC-20 utility token that is mostly used for community governance. The platform uses a combination of three main technologies: Ethereum, Aragon and the InterPlanetary File Transfer Protocol (IPFS). The Ethereum blockchain is used for hosting districts, whereas Aragon is used as the governance layer for the district0x network, allowing DNT stakers to benefit from governance rights and help shape the development and operation of their chosen districts. Lastly, IPFS is used for serving the district0x website source code and for user uploads within districts. District0x is built to tackle some of the inefficiencies that come with creating and operating distributed community marketplaces. It does this by providing a wide range of smart contracts and front-end libraries that developers can use to easily launch their own districts, while providing a simple platform for community governance. Unlike some other platforms which charge a fee for launching new applications, developers can create a district for free — though a refundable deposit will need to be paid to be added to the District Registry. This easy access platform has already given rise to a range of successful districts, each of which have varying forms and functions. Some of the most popular districts include decentralized job market Ethlance, peer-to-peer ENS names marketplace Name Bazaar and Meme Factory — a district that provides a simple interface for the creation of rare digital assets. DNT is an ERC-20 token. As such, it is secured by the underlying Ethereum blockchain. As of January 2021, this uses a proof-of-work (PoW) consensus mechanism to ensure the network is secured against attacks. As Ethereum transitions to Ethereum 2.0, it will eventually be secured using a proof-of-stake (PoS) network instead — offering similar levels of protection against attacks at a lower energy cost. District0x was founded in February 2017 by Joe Urgo and Matus Lestan. Joe Urgo is a former professional poker player turned derivatives trader with an extensive history working as an advisor in the cryptocurrency space. He is also the founder and CEO of Sourcerers — a consulting firm specializing in tokenization and crowdsale services. Matus Lestan is a programmer and developer with close to a decade worth of experience working with web and mobile applications. He currently holds the position of lead developer at district0x. Besides the co-founders, much of the district0x team is not public facing. However, the district0x wages transparency page indicates that there were at least five additional contractors working for the firm in early 2021. As of January 2021, at least 600 million DNT tokens were in circulation, representing 60% of the fixed maximum supply of 1 billion DNT. All 600 million DNT were distributed to participants of the 2017 initial coin offering (ICO), in which district0x raised a total of $9 million. Beyond this, 180 million DNT are held in reserve for possible future fundraisers, 22 million DNT are reserved for advisors and community rewards, and the remaining 198 million DNT is held by the district0x founders—and subject to a two-year vesting schedule. Of this, the 180 million DNT reserved for fundraisers remains to be released. The district0x team have indicated this may be burned at a later date. An undisclosed sum of team and other reserved tokens may also be out of circulation. The live district0x price today is $0.282954 USD with a 24-hour trading volume of $15,915,288 USD. district0x is down 4.14% in the last 24 hours. The current CoinMarketCap ranking is #291, with a live market cap of $169,772,380 USD. It has a circulating supply of 600,000,000 DNT coins and the max. supply is not available. Technical Analysis: The Token has done its Initialization and Accumulation Phase, and had its 2 Bullish cycles, where it has Triggered the 161.8 Extension level of the its First cycles Fibonacci Projection, which means the 2TP, which is the 261.8% level of the same Fibonacci Projection Confirmed. There exist a Hidden Bullish Divergence of Price and MACD which is the Sign of Bullish Trend Continuation... There are total of 3 Targets defined By Initial Bullish cycle's Fibonacci Projection. There are Total of 3 Support areas defined by Fibonacci Retracements.
DLong
by BitonGroup
6
NZDUSD (New Zealand Dollar/U.S. Dollar) Currencies Analysis Fundamentals: NZD/USD remains on track to negate the head-and-shoulders formation from earlier this year after defending the March low (0.6943), but failure to push above the March high (0.7307) may keep the exchange rate within a defined range as the key reversal pattern unravels. The recent advance in NZD/USD looks to have sputtered ahead of the Federal Reserve interest rate decision as it pulls back from a fresh monthly high (0.7269), but more of the same from the Federal Open Market Committee (FOMC) may do little to derail the appreciation in the exchange rate as the central bank relies on its non-standard tools to achieve its policy targets. It seems as though Chairman Jerome Powell and Co. will retain the current course for monetary policy after updating the Summary of Economic Projections (SEP) at the March meeting as the central bank aims to “achieve inflation moderately above 2 percent for some time so that inflation averages 2 percent over time.” The outcome based approach for monetary policy suggests the FOMC will stay on track to “increase our holdings of Treasury securities by at least $80 billion per month and of agency mortgage-backed securities by at least $40 billion per month” as the central bank anticipates a transitory rise in inflation to occur in 2021, and the committee may endorse a dovish forward guidance throughout the first half of the year as Fed officials are slated to update the SEP at the next quarterly meeting in June. In turn, the decline from the yearly high (0.7465) may turn out to be a correction in the broader trend rather than a key reversal as NZD/USD trades back above the neckline, and the appreciation in the exchange rate may continue to coincide with the renewed tilt in retail sentiment as the crowding behavior from 2020 resurfaces. The IG Client Sentiment report shows 37.18% of traders are currently net-long NZD/USD, with the ratio of traders short to long standing at 1.69 to 1. The number of traders net-long is 1.54% higher than yesterday and 2.94% lower from last week, while the number of traders net-short is 5.91% lower than yesterday and 12.34% higher from last week. The decline in net-long position comes as NZD/USD pulls back from a fresh monthly high (0.7269), while the IG Client Sentiment index still holds around 1.69 as 35.58% of traders were net-long the pair last week. With that said, the decline from the yearly high (0.7465) may turn out to be a correction in the broader trend rather than a key reversal as the crowding behavior from 2020 resurfaces, but need a move above the March high(0.7307) to negate the head-and-shoulders formation as it largely lines up with the right-shoulder. Technical Analysis: there exist a Hidden Bullish Divergence of Price and MACD which is the sign of Bullish Trend Continuation and we are Targeting the Parallels legs of Fibonacci Projection of the Impulsive wave and its retracement to the Fibonacci Retracement Golden zone.
Long
by BitonGroup
JST (JUST) Token Analysis 29/04/2021This is an Update of our Past Publication which we are currently holding Tokens and Future Position: www.tradingview.com Fundamentals: JUST is a popular new decentralized finance (DeFi) ecosystem built for the TRON blockchain. It is an entire suite of products that are mostly centered around a decentralized stablecoin lending platform known as JustStable. The platform launched in August 2020 following an initial exchange offering ( IEO ) on the Poloniex LaunchBase platform earlier that same year, but the native governance token of the platform ( JST ) has been circulating since May 2020. It is a two-token ecosystem built around the USDJ and JUST ( JST ) tokens. USDJ is a multi-collateral stablecoin that has its value pegged to the value of the US dollar (USD), whereas JST has a variety of functions on the platform — paying interest, helping maintain the platform and participating in its governance, helping to set parameters like interest rates (stability fees) and the minimum collateralization ratio. To obtain USDJ on JUST, traders need to deposit collateral in the form of supported collateral tokens — including TRON ( TRX ), which are exchanged to PTRX tokens and locked as collateral forming a collateralized debt position ( CDP ). Depending on the amount of collateral deposited, users can then mint and withdraw USDJ, which must later be repaid to retrieve the initial collateral. The platform is designed to provide a fair and borderless hub of DeFi products, that any TRON user can access. Unlike most other DeFi platforms, JUST isn’t just looking to offer a single product that offers utility to a small subset of DeFi users. Instead, it’s attempting to build an entire suite of products that cover a range of DeFi use cases, forming the foundations of a complete DeFi ecosystem on TRON. As of January 2021, the JUST ecosystem consists of five distinct products, all of which are designed to interoperate and provide additional utility to users. These are: JustStable: JUST’s flagship decentralized multi-collateral stablecoin platform. JustLend: A TRON-powered money market protocol that allows users to add liquidity to lending pools and take out low-interest cryptocurrency loans. JustSwap: An automated market maker ( AMM ) platform used for trustless TRC-20 token swaps and the creation of permissionless liquidity pools. JustLink: The first decentralized oracle system for the TRON network — used to securely supply smart contracts with real-world data. Cross-chain tokens: Assets from other blockchains, including Bitcoin ( BTC ), Ethereum (ETH) and Litecoin (LTC), that have been tokenized on TRON and can be used within the JUST ecosystem. As a TRC-20 token, the JUST Network is secured by the underlying TRON blockchain. Unlike other platforms that use the energy-intensive proof-of-work (POW) consensus mechanism to maintain the integrity of the blockchain and ward off potential attacks, TRON uses the energy-efficient delegated-proof-of-stake (dPOS) system. This sees TRON ( TRX ) token holders elect super representatives tasked with generating blocks and packaging transactions. Together, the 27 super representatives are responsible for keeping the network secure. The JUST ecosystem is managed by the JUST Foundation, which includes individuals from Alibaba, Tencent, IBM and "other world-class internet companies," while JUST's financial analysis team hails from "several global investment banks" according to the project website. Some of the most prominent individuals include Terance F (a blockchain expert and ex-Barclays and IBM employee), Elvis Zhang (a senior developer and experienced blockchain researcher), C Wu (a specialist in wallets and exchanges) and GL Kong (an experienced blockchain engineer and early crypto adopter). As of January 2021, a total of 2.26 billion JST is in circulation, out of a maximum supply of 9.9 billion. This represents 23% of the maximum supply. These tokens are earned by depositing, lending, and providing liquidity on the JUST Network or by completing several other actions — such as by participating in special campaigns. According to the original IEO on Poloniex, the full JST token supply is distributed as follows: Seed Sale: 11% Public Sale (LaunchBase Allocation): 4% Strategic Partnerships: 26% Team: 19% Airdrop (Only for TRX Holders): 10% Ecosystem: 30% Further information about the allocation of JST tokens, including the specifics of the vesting period for the JUST team and its inflation rate is currently unknown. However, it is known that all team tokens will be fully vested by April 2022. The full names and profiles of much of the JUST team is not public. However, it appears that the project shares some overlap with the TRON development team, since the platform was announced by TRON CEO and founder Justin Sun, and has received technical and financial support from TRON. The live JUST price today is $0.123214 USD with a 24-hour trading volume of $162,872,178 USD. JUST is down 0.22% in the last 24 hours. The current CoinMarketCap ranking is #176, with a live market cap of $278,504,761 USD. It has a circulating supply of 2,260,326,706 JST coins and a max. supply of 9,900,000,000 JST coins. Technical Analysis: The Token has done its Initialization and accumulation phase and currently is in the retracement of the past Bullish impulsions, we can see there exist a Hidden Bullish Divergence of Price with MACD Histogram which is the sign of Bullish Trend Cpntinuation we have updated the Targets with New Low 3 Point of the Fibonacci Projection and Defined 4 New Targets where the 1 TP is the ATH, 4 TP gets its Confirmation as the price Triggers The 3 TP followed bye some Price Correction and Retracement
Long
by BitonGroup
2
NZDCAD (New Zealand Dollar/Canadian Dollar) Currencies Analysis This symbol represents the New Zealand Dollar - Canadian Dollar cross pair. These two currencies are both categorized as commodity currencies. Canada is primarily associated with oil and lumber, conducting significant trade with the United States. New Zealand is more associated with agricultural commodities and exports dairy and meat products to Australia and China Technical Analysis: as you can see there exist a Hidden Bullish Divergence (HBD) after A Regular Bullish Divergence (RBD) which has Reversed the Bearish Trend to a Rally. The Hidden Bullish Divergence is the, confirmation of the Bullish Trend Continuation. The Second Confirmation is the 161.8% of the Fibonacci projection has been Triggered so the Price shall Minimum Touch the 261.8% of the same Fibonacci Projection according the Fibonacci Projection Laws. there exist Few support Areas down Bellow of the same bullish trend which are the Specified in the chart.
Long
by BitonGroup
2
CHFJPY (Swiss Franc/Japanese Yen) Currencies Analysis 18/04/2021Fundamentals: The Japanese and Swiss economies share some fundamental characteristics. Both nations have few natural resources and both must import energy needs. Both nations are export economies and both nations are sensitive to currency exchange rates with major trading partners. In fact, the health of both national economies depends on export price stability. Last, but not least, the Yen and the Franc are both considered safe haven currencies. So it stands to reason that the central banks of both nations would have similar goals. However, for reasons which are baffling most economists including Bank of Japan Governor, the Japanese Yen continues to strengthen against the currencies of its major trading partners. It’s important to note here that Japan and Switzerland engage in very little bilateral trade. About 0.56% of Japanese exports are destined for Switzerland and about 2.3% of Swiss exports are destined for Japan. So it may be assumed that the central bank policy of one, is not a major concern of the other. Technical Analysis: The price has reached a Distribution Zone were it has chances to retrace or else if this zone gets well filled and Reaccumulation take place then we can see how the Price Jumps to the Specified Targets there are total of 2 Targets Defined by the Fibonacci Projection of the initial Impulsive wave.
by BitonGroup
6
XVG (Verge) Coin Analysis 13/04/2021We have analyzed this Coin earlier and allotted it some funds. We are updating the Publication as we have achieved the 1 and 2 Targets. Fundamentals: Verge is a privacy-focused cryptocurrency and blockchain that seeks to offer a fast, efficient, decentralized payments network that improves upon the original Bitcoin (BTC) blockchain. It includes additional privacy features including integrating the anonymity network Tor into its wallet, called vergePay, and providing the option of sending transactions to stealth addresses. The project describes itself as community-driven, relying on volunteers and priding itself on being open source. Verge was first launched in October 2014 as DogeCoinDark, a fork of Peercoin (PPC). In February 2016, it was renamed Verge in order to rebrand for easier mass-market adoption and to distinguish itself from Dogecoin (DOGE), with which it has no direct connection. The project is now based on the Bitcoin source code. According to its "blackpaper," Verge was created as a way to fulfill Bitcoin founder Satoshi Nakamoto's vision of a decentralized, trustless electronic payment system while also providing more privacy than is available with Bitcoin. In order to accomplish this goal, Verge relies on a series of key privacy features. It automatically routes all traffic to and from its vergePay wallet through the Tor network, anonymizing the traffic and masking IP addresses. It also offers dual-key stealth addressing, through which senders can create one-time wallet addresses on behalf of recipients to help protect the recipients' privacy, as well as using atomic swaps to power trustless peer-to-peer cross-blockchain transactions. Verge seeks mainstream adoption, and as such, the Verge Core team pursues strategic partnerships to increase its awareness and use. It sponsors professional athletes and has partnered with platforms such as payments and rewards ecosystem MobiePay, crypto payments platform and ATM provider MeconCash, and blockchain-based online gambling platform Crazy8Token, among others. The Verge Core team often relies on crowdfunding and community support to be able to scale, market and pursue partnerships. In April 2018, the project raised 75 million XVG (approximately $7 million at the time) to cover the costs of integrating with a major payments processor. The Verge network is secured through a proof-of-work consensus algorithm similar to that of Bitcoin, on which Verge's code is based. At least 51% of all full nodes in the network must agree that a transaction is valid in order for it to be added to the blockchain, and new blocks are created through the mining process, in which users compete among one another to solve complex, energy-intensive problems. However, unlike Bitcoin, Verge supports five different mining algorithms. According to the development team, this makes the network more secure, as more people are able to participate in the mining process. In April 2018, Verge suffered an attack on its network that used an exploit related to the Scrypt mining algorithm to instamine a reported 20 million XVG. In response, the project initiated a hard fork to patch the issue. While it was widely referred to as a 51% attack, founder and lead developer Valo denied this, saying it was actually a timewarp attack, which involves manipulating block timestamps in order to reduce mining difficulty. Verge was launched in 2016 by Justin Valo, also known as "Justin Vendetta" or "Sunerok," a developer with over 20 years of experience in network security and nearly a decade in blockchain technology. He first developed the cryptocurrency as a fun passion project to empower individuals around the world with a greater sense of privacy. Valo has stated that he has been programming since the age of 8 and became involved in network administration after high school, working for a Fortune 500 company. After a few years, he decided to start his own network security company. Valo first became interested in Bitcoin in 2011, later getting involved with Dogecoin after its late 2013 launch. He began working on Verge because he believed that none of the altcoins being developed at the time were adequately functional as digital currencies and that the only other serious privacy coin projects --- Bytecoin (BCN) and Monero (XMR) --- were not sufficient. In 2017, Valo was appointed to the advisory board of TokenPay (TPAY), a privacy-focused cryptocurrency. The total maximum supply of Verge is capped at 16.5 billion XVG. According to Verge, the supply cap is intentionally high as a way to ensure that the value of each individual token remains low, allowing users to avoid fractional payments. It also makes it more difficult for any one individual to take control of a large number of XVG in order to manipulate markets. The cryptocurrency did not have an initial coin offering, nor was there any premining of tokens. As such, the Verge development team has said it does not hold a significant amount of XVG. Rather, all currently circulating XVG was introduced through the Verge blockchain's proof-of-work mining process, which is multialgorithmic and supports Scrypt, X17, Lyra2rev2, Myr-groestl and Blake2s. Verge undergoes a periodic halving event that reduces the amount of XVG miners receive as a block reward by 50%. Under the current emission schedule, rewards are halved every 500,000 blocks. The live Verge price today is $0.040469 USD with a 24-hour trading volume of $45,038,151 USD. Verge is down 1.66% in the last 24 hours. The current CoinMarketCap ranking is #119, with a live market cap of $665,498,401 USD. The top exchanges for trading in Verge are currently Binance, Huobi Global, HitBTC, MXC.COM, and Gate.io. Technical Analysis: the Coin has done its Initialization and Accumulation phases and showed some Impulsion, currently it may have some Distributions, which leads the price to some correction and retracements. Using Fibonacci Retracement Levels, we can define Support areas where as, if the Immediate support Stands it can Shoot the Price directly to the 3 TP which is the Confluences of Fibonacci Expansion -161.8% and Fibonacci Projection of 261.8%. The other Support levels is the Fibonacci Golden Zone, where the Price may show some Support and bounces to the higher levels and Force it to continue its rally. 78.6% of Fibonacci Retracement is the Last Support where we are counting on, but we believe the Price may not reach that extent, as the overall sentiment of the market is Bullish but it is not Impossible to see some shadows or even consolidation and reaccumulation there. There are total of 4 Targets define, 1 to 3 Targets are defined by Fibonacci Projection of the Initial Impulsive wave. 2 and 3 Targets are having Confluences with the Fibonacci expansions of -127% and -161.8%. 4 TP is the Resistance area which got defined by Price Action Analysis. we may have many Distribution and Reaccumulation Phases on the Move Up, which is a healthy sign of any Asset or Coin. so be open to the retracements along the way to the Targets.
Long
by BitonGroup
21
CTXC (Cortex) Coin Analysis 13/04/2021Fundamentals: Cortex is an open-source, peer-to-peer, decentralized blockchain platform that supports Artificial Intelligence (AI) models to be uploaded and executed on the distributed network. Cortex provides an open-source AI platform to achieve AI democratization where models can be integrated easily in smart contracts and create AI-enable decentralized applications (DApps). Cortex is built on a new public chain called Cortex. The chain includes AI algorithms that support smart contracts, which means anyone can use Cortex to add AI to their smart contracts. It also creates an incentive mechanism for collective collaboration, allowing anyone to submit and optimize models in Cortex, while model contributors can also be rewarded. The end result of Cortex, according to the whitepaper, is the creation of “artificial general intelligence”, or AGI, “being born on the Cortex”. Cortex completed a private token sale in February/March 2018 for its CTXC tokens. That funding round was led by Bitmain and FBG Capital, among other well-known investors in the cryptocurrency space. Placing artificial intelligence systems on the blockchain isn’t a straightforward process. However, Cortex will solve this problem by allowing machine learning researchers around the world to upload well-trained corresponding data models to the storage layer of the Cortex public chain. Other users who need these AI models can make inferences using the models, then pay the person who developed those models. At each inference, a full node synchronizes the model and the data from the storage tier to the local site. Making an inference using Cortex’s unique virtual machine, or CVM, will synchronize the results to the whole network and then return the result. Every time a user initiates a transaction on the Cortex, opens a smart contract, or performs an intelligence inference, the user will need to pay a certain number of “Endorphin” tokens. Endorphin is the pricing unit for transactions on Cortex. However, the platform will have two tokens, including Endorphins and Cortex Coins (CTXC). The overall goal of Cortex is to provide state-of-the-art machine learning models on the blockchain where users can infer using smart contracts. Cortex also seeks to create a machine learning platform where users can post tasks on the platform or submit artificial intelligence-based decentralized apps. Cortex’s token sale began with a single private placement round. That round took place from February 7 to March 7, 2018, during which tokens were sold at a price of 1 ETH = 1500 CTXC. In March 2018, the company announced that it had reached its target cap of 40,000 ETH for 60 million CTXC, or 20.01% of the total token distribution. FBG Capital and Bitmain were lead investors during the token sale. CTXC tokens are ERC20 tokens on the Ethereum blockchain. There’s a total supply of 299,792,458 tokens. Of the total supply, 50.03% (150 million) are reserved for Cortex coin miners as a mining reward, 24.95% (74,792,458) are dedicated to the project’s foundation from the genesis block (including 15.01% to the Cortex Lab, 9.01% to project marketing, and 0.93% to challenge bounties), with the remaining 5% going to advisors, academia, and the community from the genesis block. Cortex aims to place advanced artificial intelligence systems on the blockchain. The company recently completed a private investment round during its token sale for CTXC tokens in February/March 2018. The next step is to roll out the Cortex public chain. Key features of the platform include its smart AI contracts and its Cortex Virtual Machine, both of which allow for advanced AI-based smart contract programming. Technical Analysis: The Coin has done Multiple Accumulation Post its Initialization Phase followed by an impulsive cycle and currently Retracing to the Fibonacci retracement Golden Zone Levels for Some Consolidation and Reaccumulation before starting its new impulsive cycle. It has a Support Area at 0.24 USD where the Price Can/May fall and and if the Support Stands, the Price will Start its new Rally and Impulsive cycle. there are total of 3 Targets Defined by Fibonacci Projection of the Previous Impulsive wave, where as we have the 1 and 2 Targets very much Confirmed, as the price has earlier Triggered the 161.8% (Extension) Level of the Fibonacci Projection.
Long
by BitonGroup
14
COCOS (Cocos-BCX) Token Analysis 12/04/2021Fundamentals: The platform for the next generation of digital game economy Cocos-BCX' , fully named 'Cocos Blockchain Expedition', aims to create an integrated multi-platform runtime environment for games, providing developers with the convenience and completeness in game development, while bringing users a whole new gaming experience, unprecedented gaming status, and with all the assets obtained in the games being wholly owned by the users. It introduce the concepts and implementations of Cocos BlockChain Expedition (“Cocos-BCX” or the “Platform”), a platform for the development, operation and management of decentralized applications (“DApps”) and the circulation of in-app assets (“dAssets”) on blockchain. The Platform includes: (1) A development framework that supports multiple operating systems and blockchains. (2) A data-driven IDE for dApps that is fully scripted and component-based. And (3) A blockchain system and essential functional components for high performance applications based on the improved Graphene technology framework (“CocosChain”). Cocos-BCX enables developers to program, debug and release blockchain-based dApps and hybrid applications. Meanwhile, the platform integrates a blockchain-based distributed ledger system, crypto wallet system and digital assets circulation platform, allowing the permanent off-chain storage and cross-chain use of in-app assets It is from the needs of developers and users in game industry that we started to design the initial version of the project, since the game is one of the earliest and largest field for blockchain application. The technology, products, economic system design and use cases discussed in this whitepaper are based on the application scenario of game. their Mission: To Assetize the Content of the Digital World, Building A Consistent Value System between the Producers and the Consumers. Funder: CHEN Haozhi Strategic Investors: Following institutional investors are involved in investment of Cocos-BCX, including: NGC, Binance Lab, INBlockchain, Dfund, 500Startups, BlockVC, OK Blockchain Capital, Yisu Capital Grand Shores Fund, ONTology, FreeS FUND, NODE Capital, Consensus Capital, Hash Capital, NEO Capital, Ticker Capital, Contract Capital, Junwu Capital, Candy Capital, Hofan Adventure Capital, BMETA Capital, BYTE Capital, Minjie Capital, InsurFun, BA Capital, Consensus Lab, TOKENMANIA and BYZANTIUM Capital, etc. Most of those investors are tier-one institutions with powerful strength. The live Cocos-BCX price today is $1.28 USD with a 24-hour trading volume of $4,474,825 USD. Cocos-BCX is down 3.26% in the last 24 hours. The current CoinMarketCap ranking is #576, with a live market cap of $53,743,399 USD. It has a circulating supply of 42,015,868 COCOS coins and a max. supply of 100,000,000 COCOS coins. Technical Analysis: the price is consolidating and Accumulating at the Fibonacci Golden zone which is the sign of initialization of the new cycle and new impulsive wave. there total of 3 Targets Specified by Fibonacci projection where as the 3 Target is getting its confirmation as the price Triggers the 2 TP followed by some price correction.
CLong
by BitonGroup
3
AXS (Axie Infinity) Token Analysis 10/04/2021Fundamentals: Axie Infinity is a blockchain-based trading and battling game that is partially owned and operated by its players. Inspired by popular games like Pokémon and Tamagotchi, Axie Infinity allows players to collect, breed, raise, battle and trade token-based creatures known as Axies. These Axies can take various forms, and there are more than 500 different body parts available, including aquatic, beast, bird, bug, plant and reptile parts. Parts from each type class come in four different rarity scales: common, rare, ultra rare and legendary — and Axies can have any combination of body parts, making them highly variable and often rare and unique. Each Axie is a non-fungible token (NFT) with different attributes and strengths and can be entered into 3v3 battles, with the winning team earning more experience (exp) points that are used to level up an Axie's stats or evolve their body parts. These Axies can be bred together to produce new and unique offspring, which can be used or sold on the Axie marketplace. The Axie Infinity ecosystem also has its own unique governance token, known as Axie Infinity Shards (AXS). These are used to participate in key governance votes and will give holders a say in how funds in the Axie Community Treasury are spent. Each Axie possesses six out of the hundreds of different potential body parts — each of which has its own battle move. This produces essentially endless variety among Axies, with most Axies having relatively weak statistics, while those with the strongest combination of body parts can have incredible stats. Unlike some other blockchain-based battling and breeding games, each Axie can only be bred a total of seven times to help control the population of Axies. Axie Infinity has its own mating hub to help players find a suitable match to breed their Axie with to stand the best chance at producing a rare or powerful offspring. It costs 0.005 ETH in addition to Small Love Potion (SLP) tokens to breed Axies. AXS token holders will soon be able to stake their tokens to receive regular rewards. But unlike some other stakeable assets, AXS holders will also need to vote and play to claim their rewards. The Axie Infinity (AXS) token is an ERC-20 token launched on the Ethereum blockchain. As a result, it is secured by Ethereum’s proof-of-work (POW) consensus mechanism. In early 2021, Axie Infinity plans to migrate its NFT tokens, including Axies, Land and other in-game item tokens from the Loom Network to a custom-built sidechain on Ethereum known as Ronin. Ronin is an application-specific sidechain built just for Axie Infinity. It is being developed by Sky Mavis — the development firm behind the Axie Infinity game, and is designed to support almost instant transaction confirmations, reduced gas fees and be capable of helping Axie Infinity scale. Axie Infinity was created in 2018 by Sky Mavis — a technology-focused game developer with a team primarily based in Vietnam. It was co-founded by Trung Nguyen and Aleksander Larsen. Trung Nguyen is the current CEO of the platform. Nguyen graduated with a BS in computer software engineering, and worked as a software engineer at Anduin Transactions prior to founding Axie Infinity. Former competitive gamer Aleksander Larsen is also credited as a co-founder and COO of the platform. Larsen has been working in blockchain gaming since 2017. He previously worked as the executive security officer for the Norwegian Government Security Organization and still sits as Secretary of the Board of Directors at the Blockchain Game Alliance. In total, the Axie Infinity team consists of 25 full-time employees — many of whom have experience with game development. Axie Infinity (AXS) tokens have a total supply of 270 million tokens. Out of this, around 53.5 million tokens were in circulation as of mid-November 2020. In total, 11% of the total supply was allocated to participants in the Binance Launchpad IEO sale and 4% was sold in a private sale. In addition to this, 29% is allocated for staking rewards, 20% to the play to earn pool, 21% to the team, 7% to advisors and 8% to the ecosystem fund. Based on the current release schedule, as indicated by Binance Research, 100% of AXS tokens will be circulating by early 2026. The live Axie Infinity price today is $8.01 USD with a 24-hour trading volume of $114,628,092 USD. Axie Infinity is up 4.00% in the last 24 hours. The current CoinMarketCap ranking is #233, with a live market cap of $346,569,629 USD. It has a circulating supply of 43,253,284 AXS coins and a max. supply of 270,000,000 AXS coins. The top exchanges for trading in Axie Infinity are currently Binance, Upbit, Huobi Global, FTX, and ZT. As of mid-November 2020, Axie Infinity (AXS) is only available to trade on a single exchange platform: Binance. It is listed with four trading pairs: AXS/USDT, AXS/BTC, AXS/BUSD and AXS/BNB. Though there are no direct fiat purchase options for AXS, see our guide to purchasing Bitcoin (BTC) with fiat — which can then be exchanged to AXS on supported exchanges. Technical Analysis: As we can see the price has done its accumulation phase and currently completing its impulsive cycles. as we can see we have defined the Fibonacci Golden zone where it has lots of confluences with the past distribution zones and it can be a good zone for the reaccumulating phase of the new impulsive wave. we have defined 3 Targets by Fibonacci Projection, where as the 2 TP gets its confirmation as soon as the price triggers the 1 Target followed by some price consolidation and correction.
Long
by BitonGroup
16