Hopes for DASH Use in DeFi Staking Pumps Price by 12%

Hopes for DASH Use in DeFi Staking Pumps Price by 12%

The price of Dash’s native token of the same name jumped 12 percent in the last 24 hours as traders assessed its entry into the booming “DeFi” space.

According to an announcement on Monday, the decentralized autonomous firm entered a partnership with StakeHound, a protocol that creates stake-backed tokens for users looking to access decentralized finance. The duo will enable DASH holders to stake their coins for a wrapped ERC20 crypto called stakedDASH.

Users will be able to trade stakedDASH via decentralized exchanges, including UniSwap, Curve, Aave, and others. At the same time, they will get to earn yields for staking their DASH holdings in the StakeHound pool, which would mean more stakedDASH rewards.

StakedDASH will become an essential bridge between #DASH and #Ethereum DeFi ecosystems.

Albert Castellana, CEO of StakeHound has stated his intention to explore opportunities to build and integrate #DeFi on Dash Platform.

The proposal intends to lift the burden of depositing 1,000 DASH units to create an income-returning Masternode. StakeHound demands a minimum of 1 DASH to earn the yields in stakedDASH. Mark Mason, the Dash project’s marketing manager, said that the partnership would give both DASH and DeFi users access to one another’s markets.

The news helped in creating an optimistic buying sentiment for DASH.

Meanwhile, its prospects of returning yields in a tradeable stakedDASH token added a use case of the so-called “yield farming.”

“This allows DeFi users to exchange DeFi tokens for Dash, enabling them actually to spend and use those tokens in the real world,” he added.

DASH’s latest pump helped it in breaking above a short-term descending trendline. The strong move upside further allowed the cryptocurrency to extend its bullish target to $87, a level that has capped the price from extending its bullish moments in the second quarter.

Meanwhile, a renewed selling pressure near the local or extended highs may push the DASH/USD exchange rate lower towards the Descending Trendline, which would now act as support. Even then, the pair could attempt a rebound at $65, a support level.

Failing to bounce back could extend the downside target towards $60.

This post was originally published on www.newsbtc.com

Source: www.cryptoalphanews.com

Author: cm_team


Bitcoin Poised to Retake $12,000 — 2 Technical Reasons Why There’s Still Room To Run

Bitcoin Poised to Retake $12,000 — 2 Technical Reasons Why There’s Still Room To Run

'Bitcoin Looking Strong' — Poised For A Breakout Bull Run Into The New Year, Says Tyler Winklevoss

Bitcoin is currently trading at $11,771 after a significant 2.3% breakout today above the last high of $11,720 on October 12. It seems that the bulls have been able to defend the renewed daily uptrend and are close to pushing BTC above the critical $12,000 psychological level again.

According to the most recent metrics released by Glassnode, it seems that the number of whales holding at least 100 BTC reached a 6-month high of 16,159. 

At current prices, each whale is holding at least $1.17 million. The number of whales going up is usually a bullish indicator showing that more investors are willing to hold large sums of the digital asset.

It seems that Bitcoin is currently trading right below a critical trendline that has accurately been predicting the upcoming price action of the digital asset. The past closes above this trendline have led to significant gains. 

On the other hand, closes below the trendline, or rejections, have driven Bitcoin down within the next few days. The price of BTC is just above the trendline. If we see a close above this point, we could potentially see the digital asset jump by 5 to 10% within the next few days.

Unfortunately, it seems that the RSI on the daily chart is on the verge of crossing into the overbought zone. However, the last time this happened on July 26, it didn’t really stop the price from climbing more.

Considering there are far more whales now to push the price towards $12,000, we could easily see the bulls ignore the RSI again and drive BTC above $12,000. This theory can be further confirmed by looking at the IOMAP chart.

We can clearly observe a lack of resistance above $11,700 while there seems to be significant support on the way down. According to this chart, Bitcoin could easily climb to $13,536 without much opposition in the short-term. 

Source: cryptomoneyteam.co

Author: By TeamMMG


Bitcoin to Soon Form Signal Last Seen Prior to 2,000% Rally in 2017

Bitcoin to Soon Form Signal Last Seen Prior to 2,000% Rally in 2017

Bitcoin has undergone a strong rally over the past few months. From the March lows, the cryptocurrency has gained over 200%, rallying from $3,500 to $11,700 now.

According to data from Crypto Quant shared by a crypto-asset analyst, Bitcoin is about to form a long-term buying signal. The signal is the Miners Reserve, which tracks the BTC reserves of entities tied to mining pools.

According to the chart, the indicator is poised to undergo a positive crossover, with the short-term moving average crossing below the long-term moving average.

This signal is important as it was last seen at the end of 2016, prior to Bitcoin’s 2,000% rally in 2017. This signal also preceded two other macro rallies that brought BTC exponentially higher.

The same trader pointed to a swath of other on-chain trends showing that the long-term trend is favoring bulls.

Image

Chart of BTC's price action since the start of its trading around a decade ago with on-chain analysis by CryptoQuant. Chart shared by Coiner Yadox (Yodaskk on Twitter). Chart from CryptoQuant and TradingView.com

Fundamental trends favor Bitcoin bulls, analysts say.

Macro investor Raoul Pal recently said in an interview with publication Stansberry Research that  Bitcoin is likely to reach a price of $1 million in the coming five years. He thinks that investment by institutional players will drive the cryptocurrency this far to the upside:

“Just from what I know from all of the institutions, all of the people I speak to, there is an enormous wall of money coming into this. It’s an enormous wall of money — just the pipes aren’t there to allow people to do it yet, and that’s coming. But it’s on everybody’s radar, and there’s a lot of smart people working on it.”

Pal has said that he thinks Bitcoin may be the best investment in existence right now due to macro trends.

Source: inula.org

Author: About The Author

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Stimulus Deal Soap Opera Likely To Drag On Past Today’s Deadline As Pelosi, Trump And McConnell Send Mixed Signals

Stimulus Deal Soap Opera Likely To Drag On Past Today’s Deadline As Pelosi, Trump And McConnell Send Mixed Signals

House Speaker Nancy Pelosi (D-Calif.) on Tuesday maintained that she is “optimistic” that she and Treasury Secretary Steven Mnuchin can come to an agreement on the next round of federal coronavirus aid in the coming days, adding that the 48-hour deadline she set over the weekend was intended to make sure each party had its “terms on the table” in time to draft a comprehensive bill that could be passed before Election Day. 

Speaker of the House Nancy Pelosi (D-Calif.) talks to reporters during her weekly news conference in … [+] the House Visitors Center at the U.S. Capitol on October 1, 2020, in Washington, D.C.

In a Tuesday afternoon interview with Bloomberg TV, Pelosi specifically cited major concessions from the White House on Democratic language for Covid-19 testing and tracing after initially criticizing the Trump Administration for “unacceptable changes” to what Democrats had proposed. 

She said the two sides remain significantly apart on two major issues: liability protections for businesses (a top Republican priority) and more federal aid to state and local governments (a top Democratic priority). 

There are other areas of disagreement remaining, including over changes to certain tax credits for low-income families, the 2020 census and election funding, though the Speaker signaled she might be willing to concede to the White House on that issue. 

Asked about the likely possibility that Senate Republicans may reject any agreement she makes with the White House (despite assurances from President Trump to the contrary), Pelosi said she’s received “mixed messages,” but didn’t elaborate on what those messages were. 

Pelosi clarified that the 48-hour deadline she gave the White House over the weekend was not a hard deadline for the parties to reach a comprehensive deal, but rather a deadline for each party to have its terms laid out on the table “to be able to go on to the next step” of legislative language drafting.

The Speaker is scheduled to confer with Treasury Secretary Steven Mnuchin again by phone on Tuesday afternoon. Pelosi said Tuesday that in order to pass the new bill before Election Day—and in order to have relief money in Americans’ hands before the rent is due on November 1—the final bill needs to be drafted by the end of this week. 

“I’m not optimistic about us doing anything.” That’s what Senator Richard Shelby (R-Ala.), chairman of the Senate Appropriations Committee, told reporters on Tuesday afternoon, Politico reported. After instructing her committee chairs to work with their Republican counterparts to hash out their disagreements on Monday, Pelosi Tuesday described delays from the appropriators as a “bump in the road” and said that she was still hopeful they would be ready by Tuesday evening. 

72%. That’s the portion of likely American voters—including more than half of Republicans surveyed—who said they support the passage of a new multitrillion-dollar federal stimulus bill that would include “government support for citizens” and additional aid for state and local governments, according to a new poll conducted by the New York Times and Siena College.

Pelosi has continued working with Treasury Secretary Steven Mnuchin, who is representing the White House in discussions, in search of a deal even though it’s unclear whether Senate Republicans will support any agreement the Democrats and White House reach. Senate Republicans have for months resisted a package as expensive as what Pelosi and Mnuchin are discussing (somewhere between $1.8 trillion and $2.2 trillion). Without at least some Republican senators supporting it, the new bill can’t make it to President Trump’s desk to be signed into law. McConnell said over the weekend that the Senate will “consider” any deal Pelosi makes with the White House, but Senate Republicans are still planning two votes this week on their own relief proposals—one stand-alone bill to authorize the use of $135 billion in leftover Paycheck Protection Program funds, and a $500 billion narrow relief bill. Neither is expected to draw enough Democratic support to pass. 

After being asked about the $2.2 trillion relief proposal Pelosi has offered the White House on behalf of Democrats (the White House countered with a $1.8 trillion bill), President Trump told Fox & Friends on Tuesday morning that he “would rather go bigger than her number.”  After abruptly calling off stimulus talks two weeks ago, and then restarting them, Trump has repeatedly said he supports a plan even bigger than the one Pelosi has proposed, and has also maintained that Senate Republicans will vote for a more expensive package, too. Senate Republicans, for their part, have so far shown no inclination to embrace such a deal. 

Stimulus Cliffhanger Drags On—With Staff Working ‘Around The Clock’—As Pelosi And Mnuchin Struggle To Cut A Deal (Forbes)

Pelosi Doubles Down On 48-Hour Stimulus Deadline (Forbes)

Stimulus Would Be ‘Almost Impossible’ To Execute Before Election, Even If Bipartisan Deal Is Reached, Kudlow Says (Forbes)

McConnell Won’t Support $1.8 Trillion White House Stimulus Bill—Even If Pelosi And Trump Make A Deal (Forbes)

Source: www.forbes.com

Author: Sarah Hansen


Ripple Price Analysis: XRP Crashes To 3-Month Low Against Bitcoin, What's Next?

Ripple Price Analysis: XRP Crashes To 3-Month Low Against Bitcoin, What’s Next?

Key Support Levels: $0.237, $0.23, $0.228.

Key Resistance Levels: $0.251, $0.261, $0.271.

XRP has not been outperforming over the past seven days, but it remains inside the boundaries of a symmetrical triangle. The coin failed to break the upper boundary last week, which caused it to head into the support at the lower boundary.

It rebounded at the lower boundary but has struggled to remain above the 100-days EMA at around $0.243. XRP spiked higher yesterday and over the past hours, but the bears have banded together to suppress the price beneath the 100-days EMA.

The next direction for XRP will be dictated by the direction in which price breaks the symmetrical triangle, as shown in the following chart. A break toward the upside would result in XRP heading higher toward $0.26, but a break to the downside could see XRP heading back toward $0.215.

Looking ahead, the first level of resistance is located at the 100-days EMA. Above this, resistance lies at the upper boundary of the triangle, at around $0.251, where the bearish .382 Fib Retracement level lies.

Above this, resistance is located at $0.261 (bearish .5 Fib Retracement), $0.271 (bearish .618 Fib Retracement), and $0.28 (1.414 Fib Extension).

On the other side, the first level of support lies at the lower boundary of the triangle. Beneath this, support lies at $0.237 (200-days EMA), $0.23, and $0.228 (.618 Fib Retracement).

From a technical standpoint, the Stochastic RSI has produced a bullish crossover signal in oversold territory, which could lead to some positive momentum.

Key Support Levels: 2050 SAT, 2022 SAT, 2000 SAT.

Key Resistance Levels: 2100 SAT, 2142 SAT, 2200 SAT.

XRP struggles heavily against Bitcoin after it dropped beneath the 2100 SAT level today to create a fresh 3-month low at the 2057 SAT level. The last time XRP/BTC was at that low was on July 28, 2020.

At the start of October, XRP attempted to push higher against BTC but was stalled by the 200-days EMA at around 2400 SAT.

From there, XRP headed lower throughout the month to reach 2057 SAT today, and it is likely to head further still.

Looking ahead, the first level of support lies in the 2050 SAT area (downside 1.414 Fib Extension). Following this, support lies at 2022 SAT, 2000 SAT, and 1975 SAT.

On the other side, the first level of resistance now lies at 2100 SAT. Above this, resistance is expected at 2142 SAT, 2200 SAT, and 2250 SAT.

Both the RSI and Stochastic RSI are in extremely oversold territory, suggesting that the sellers are slightly overextended at this point.

Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

Source: cryptopotato.com


Diamonds Trading Signals Summary - Wednesday, October 21 2020

Diamonds Trading Signals Summary – Wednesday, October 21 2020

How does after spike forex news trading work?​

⋯⋯⋯⋯⋯⋯⋯⋯⋯⋯⋯⋯⋯⋯⋯⋯⋯

  • If between 02:00:00am and 02:00:20am, so during the first 20 seconds you see GBPUSD move up or down by 15 pips or more, then enter in the direction of the initial spike at the very first 50% retracement if it doesn’t take more than 60 seconds (till 02:01:00am) – and if spread is at 2 pips or less. Set stop/loss at 10 pips, and set take/profit at 10 pips immediately.
  • If the move either up or down was less than 15 pips during the first 20 seconds, then the actual number of the report did not generate sufficient interest in the market, and you simply skip the trade.
  • If by 02:15:00am, so 15 minutes after the report release, neither your stop/loss nor your take/profit points were hit, then close the trade automatically at market price of the time.
  • If between 08:30:00am and 08:30:15am, so during the first 15 seconds you see USDCAD move up or down by 10 pips or more, then enter in the direction of the initial spike at the very first 40% retracement if it doesn’t take more than 40 seconds (till 08:30:40am) – and if spread is at 2 pips or less. Set stop/loss at 10 pips, and set take/profit at 10 pips immediately.
  • If the move either up or down was less than 10 pips during the first 15 seconds, then the actual number of the report did not generate sufficient interest in the market, and you simply skip the trade.
  • If by 08:45:00am, so 15 minutes after the report release, neither your stop/loss nor your take/profit points were hit, then close the trade automatically at market price of the time.
  • If between 08:30:00am and 08:30:30am, so during the first 30 seconds you see USDCAD move up or down by 12 pips or more, then enter in the direction of the initial spike at the very first 40% retracement if it doesn’t take more than 60 seconds (till 08:31:00am) – and if spread is at 2 pips or less. Set stop/loss at 10 pips, and set take/profit at 10 pips immediately.
  • If the move either up or down was less than 12 pips during the first 30 seconds, then the actual number of the report did not generate sufficient interest in the market, and you simply skip the trade.
  • If by 08:45:00am, so 15 minutes after the report release, neither your stop/loss nor your take/profit points were hit, then close the trade automatically at market price of the time.
  • Source: www.forexpeacearmy.com


    Hopes for DASH Use in DeFi Staking Pumps Price by 12%


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