Crypto Network Fees on the Rise After DeFi Sees Signs of Another Parabolic Action

DeFi is popping again.

After two months of downward price action, DeFi tokens are bouncing back. The market cap of DeFi governance tokens that bottomed on Nov. 4 at just under $5 billion has managed to now double, at $10.2 million, in aggregate market cap in less than two weeks.

DeFi MarketCap
Source: CoinMetrics

Total notional value deposited across DeFi also hit an all-time high at about $14 billion this past week.

The growth stagnated in October and early November, but an increase in DeFi activity can be seen again in the past two weeks that helped it push to new highs.

This is because DeFi tokens are rallying again after witnessing large declines in market value. Over the past week, SUSHI gained more than 100%, SWRVE 88%, CRV 52%, and Hegic 45%.

At the beginning of summer, DeFi tokens were red hot as various assets recorded over 300% gains in a few months. Now, this parabolic action seems to be returning after a cool-off period of two months.

The return of bulls has the network fees also returning to healthy levels. Ethereum topped the list, generating nearly $2 million in daily fees, as per TradeBlock.

On Uniswap, the fees are back above $1,000,000 per day after declining to under $500,000 per day last month. Much like Uniswap, SushiSwap is generating over $100,000 in fees after declining to lows as liquidity across its platform decreased.

The Q4 also saw a new platform, Playmarket, joining the list of fee-generating crypto platforms for the first time. The Ethereum based betting platform saw an uptick in fees after the US presidential election, which brought its presidential betting market to the mainstream.

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Author: AnTy

Tezos (XTZ) Price Analysis (April 21)

Key Highlights

  • A relative number of falls has featured in the market’s valuation of XTZ/USD.
  • A downward breach at the $2 mark, will lead XTZ/USD price trading lower around the i$1.8 major accumulation territory afterward.
  • XTZ/USD market is likely to make rebound northwards a bit above the $2.4 mark.

Tezos (XTZ) Price Analysis

  • Major distribution territories: $2.6, $2.8, $3
  • Major accumulation territories: $1.8, $1.6, $1.4

There have a relative number of falls in the market’s valuation of Tezos as traded against the US dollar’s price worth. On April 18, the crypto surged northbound higher to a closely average $2.4 mark. Price has been trading towards a low value at $2 line.

A further downward breach of the $2 mark, will potentially lead the crypto market’s value to trade lower around the i$1.8 immediate major accumulation territory. Meanwhile, the bulls’ failure at that point will cause more sell-offs through some major accumulation territories afterward.

Tezos (XTZ) Technical Indicators Reading

The 50-day SMA indicator, still to some extent, points to the north direction a bit above the $2 mark. A line of bearish Japanese candlesticks has occurred to touch the SMA trading indicator. That signifies a correction in the crypto’s price earlier upswings. The Lower Bollinger Band lies closer below the SMA trend-line to give strength to it. That showcases the potential of seeing the bulls regaining power from that point The Stochastic Oscillators have moved downward slightly start a consolidation moves around range 20. That signals the necessary need to stay away from placing a position for a while.

Conclusion

As XTZ/USD market now trades around the 50-day SMA trend-line and, the Lower Bollinger Band, the crypto is more likely to make rebound northwards a bit above the $2.4 mark closely averaged earlier on. Any rejections around a low value at $2 line, may signal a good entry of the XTZ/USD bullish market trading zone.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (bitcoinexchangeguide.com) holds any responsibility for your financial loss.

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Author: Ben Jordan

Breaking: Bitcoin Price Drops to Nearly $9,900 Yet Again

  • Analysts and traders expecting a downward move

Bitcoin is back in the red zone.

Starting the day around $10,175, Bitcoin continues its downward move, going down to as low as $9,913.

Currently, BTC is trading at $9,993 with 24 hours loss of about 2 percent, as per Coincodex. Daily trading volume registered by the leading cryptocurrency is still low at $490 million.

Analysts and Traders Expecting a Downward move

Analyst The Cryptomist says,

“I am looking at one more touch on RSI pennant on both support and resistance before big move!”

Another bearish projection is made by veteran trader Peter Brandt as he comments on Bitcoin’s descending triangle.

“One thing I have learned from 45 years of trading: Markets have a tendency to do what the most number of market participants least expect and don’t want to happen. Descending triangles are most often bearish.”

And another bearish one,

Trader and investor Josh Rager also sees Bitcoin heading back down to $9,600 to $9,700.

Altcoins Following Bitcoin

We started the week at above $10,300 only to take a drop to almost $10,000 level and then back above $10,300 on the same day.

After not registering much movement rest of the week, on Sept. 19, Bitcoin tumbled down to $9,600, losing almost $500 under 5 minutes.

Then, the same day BTC price went back to $10,300 and since then it has been constantly moving downwards.

Altcoins, after having a great start of the week are back in the red with Stellar (XLM) in the lead registering 5.61% loses.

Interestingly, the total market cap has come back to where it started the week at $266 billion. During this week, we went as high as $273 billion and dropped as low as $261 billion, to no effect.

BTC dominance, on the other hand, is currently at 69.4%, down from 71.6% from earlier this week and 73.5% from earlier this month, as per TradingView.

Next week is expected to be an interesting one as two big events, in the form of Bakkt’s physically settled Bitcoin futures launch and CME’s Bitcoin futures expiration are projected to define the BTC price movement for the coming weeks or months.

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Author: AnTy

A Break Below $10,100 Means Bitcoin Bulls Are in ‘Big Trouble’ While Above $12k is ‘Hot Air Territory’

  • An upside trap before downward continuation, expected target $9,700
  • Large accumulation happening after big players took profit at 2019 high
  • If Bitcoin breaks above $12,000, bulls will be back into the beast mode
  • The upside is “considerably larger than the downside”

On August 16th, the Bitcoin price broke above $10,000 and since then has remained above this level.

Analysts and traders are still calling out for bears and expecting a drop soon.

TraderX0X0 says Bitcoin monthly is holding well but nothing is clear at the moment. While he is not looking for longs, possible shorts from a break or close below monthly.

Currently, BTC/USD is trading at $10,400 with 24-hours gains of 0.59%. But trading volume is back to falling at $634.5 million, as per Messari.

An Upside Trap Before Downward Continuation

On the initial move, bitcoin is most likely to break to the upside as an ascending triangle but this is expected to be a bull trap, said trader Jonny Moe.

An upside trap means downward continuation that will take us to $9,700.

According to analyst The Cryptomist, Bitcoin has broken down a rising wedge and now we are testing sym triangle resistance.

“If we break below, (approx 10.1k) then bulls are in big trouble,” she said.

The Cryptomist has previously emphasized on the gap left by CME Group’s Bitcoin futures being the force behind Bitcoin’s drop to $8,500.

However, a drop to this level means 50% retracement of 2019 high move.

As for the gaps, they are not meant to be filled, said economist and trader Alex Kruger.

“Even though gaps often fill, gaps are not meant to be filled. Gap filling is a combination of random variations (price moves), self-fulfilled prophecy (traders assign value to gaps), and lack of support/resistance within gaps (i.e. no trades inside),” explained Kruger.

Large re-accumulation Happening

Despite it being a weekend, Bitcoin is doing nothing new.

We are still waiting for a close below $10,025 that would lean to bearish while a close above $10,800 is bullish for the leading cryptocurrency, said crypto investor and trader Josh Rager.

And if Bitcoin breaks above $12,000, bulls will be back into the beast mode.

“Above 12K price enters hot air territory i.e. little resistance. Price will eventually break out and go vertical before starting to fill in,” said Kruger.

In a separate analysis, Rager shared how the current Bitcoin price movement looks like “one large re-accumulation” happening after big players took profits at $13,900, the 2019 high in late June.

According to him, the price could drop down again but “highly unlikely” that it falls below 20 MA, at high $8ks currently.

In the short term, a drop is expected but the bigger picture is much larger.

“$BTC will eventually break through $20K, in 2020 or 2021, and once it does, it should trade $30K, $40K and $50K fast,” Kruger said.

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Author: AnTy

MIOTA Price Prediction Today: Daily (IOTA) Value Forecast – July 29

IOTA Foundation Officially Launches International IOTA Academy, Here’s What You Need to Know
  • On July 16, the downward trend was corrected at the $0.2500 support level.
  • On the upside, if the bulls break above the EMAs, the crypto’s price will rise and test the $0.5000 resistance level.

IOTA/USD Medium-term Trend: Ranging

  • Resistance Levels: $0.50, $0.55, $0.60
  • Support Levels: $0.40, $0.35, $0.30

Last week the price of IOTA was in a range bound move below the 12-day EMA and the 26-day EMA. The bulls had earlier been resisted by the 12-day EMA after a downward correction. In retrospect, the coin had been in a range-bound move since on May 15. The IOTA price had been characterized by small body candlesticks like Doji and Spinning tops.

These candlesticks described the indecision between the buyers and sellers at the current market price. The price will continue to range below the EMAs as long as the small body candlestick dominate the chart. On June 27, the bears broke out of the range-bound move and were on a downward fall. On July 16, the downward trend was corrected at the $0.2500 support level.

On the upside, if the bulls break above the EMAs, the crypto’s price will rise and test the $0.5000 resistance level. On the other hand, if the bulls fail to break above the EMAs, the coin will continue its range bound move below the EMAs. Meanwhile, the IOTA market is at the oversold region of the daily stochastic but above the 20% range. This indicates that price is in a bullish momentum and a buy signal.

IOTA/USD Short-term Trend: Ranging

On the 1-hour chart, the price of IOTA is in a sideways trend zone The 12-day EMA and the 26-day EMA are sloping horizontally. On July 27, the crypto’s price fell to the low of $0.28000 and resumed a range-bound move above it. Nevertheless, the IOTA price is in the oversold region of the daily stochastic but above the 40% range. This indicates that price is in a bullish momentum and a buy signal.

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.

[Author Alert] The author’s opinions above are solely based on their own self-conducted research. Assume any and all authors are using, holding, trading and/or buying cryptoassets mentioned as a portion of his or her financial portfolio. Use information at your own risk, do you own research, never invest more than you are willing to lose.

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Author: Azeez Mustapha

OMISEGO Price Prediction Today: Daily (OMG) Value Forecast – July 17

The-Evolution-of-the-OmiseGo-Ecosystem
  • The market valuation of OMG/USD market has been trending downward alongside with the trend-line of its Bollinger Lower Band.
  • The bears may continue to gain the market’s advantage if the bulls fail to muster their energy around $1.60 and $1.40 price territories.

OMG/USD Medium-term Trend: Bearish

  • Distribution territories: $2, $2.20, $2.40
  • Accumulation territories: $1, $0.80, $0.60

The market valuation of OMG/USD has been on drastic downward pressure over time around its Bollinger Lower Band trend-line. The crypto hasn’t able to even touch the Bollinger Middle from below since the decline.

The 50-day SMA is located a bit over the Bollinger Upper Band near $1.80 mark. The Stochastic Oscillators have briefly crossed to point to the north below range 40. That signifies a slight sign of bulls’ recovery.

The crypto is trying to recover between $1.60 and $1.40 price territories presently. The bears may potentially gain the market’s advantage if the bulls fail to muster the energy around those territories.

OMG/USD Short-term Trend: Bullish


There seems to be a slight increase in the OMG/USD market short-term trend today as at the time of writing. The crypto’s price has been on the rise from a low mark a bit below $1.30 line to trade near a high point at $1.50. Yesterday, the market’s trend completed its sessions being a bearish outlook.

The 50-day SMA is situated over the Bollinger Upper Band. The Stochastic Oscillators have moved into the overbought zone. And, they now slightly cross near range 80 to point to the south.

The bulls are seemingly getting weak in the short run of this market. And, they are not able to push past the $1.50 price point. In that case, the bears may find a way back into the trade operations around that spot.

OmiseGo:

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.

[Author Alert] The author’s opinions above are solely based on their own self-conducted research. Assume any and all authors are using, holding, trading and/or buying cryptoassets mentioned as a portion of his or her financial portfolio. Use information at your own risk, do you own research, never invest more than you are willing to lose.

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Author: Azeez Mustapha

Electroneum Price Prediction Today: Daily (ETN) Value Forecast – July 1

Electroneum-Price-ETN-Coin-Continues-Its-Slide-Downard-as-Community-Members-Weigh-In
  • On June 18, the bulls were resisted and ETN market was on a downward correction to a low at Ƀ0.00000039.
  • On the upside, if the bulls break above the EMAs, the crypto’s price is likely to rise.

ETN /BTC Medium-term Trend: Bearish

  • Resistance Levels: Ƀ0.00000060, Ƀ0.00000065, Ƀ0.00000070
  • Support Levels: Ƀ0.00000045, Ƀ0.00000040, Ƀ0.00000035

Last June the price of ETN was in a bullish trend after a long period of a bearish trend. In the first two weeks of June, the crypto’s price was making a series of higher highs and higher lows. On June 17, the ETN market reached a high of Ƀ0.00000070. On June 18, the bulls were resisted and ETN market was on a downward correction to a low at Ƀ0.00000039.

The 12-day EMA and the 26-day EMA are now trending southward indicating that price is falling. Meanwhile, the crypto’s price is below the 12-day EMA and the 26-day EMA which indicates that price is likely to fall. If the bearish pressure continues, the crypto will reach the low at Ƀ0.00000035.

On the upside, if the bulls break above the EMAs, the crypto’s price is likely to rise. Meanwhile, the price of ETN is in the oversold region of the daily stochastic but below 20% range. This indicates that the price of ETN is in a bearish momentum and a sell signal.

ETN/BTC Short-term Trend: Bearish

On the 1-hour chart, the price of ETN is in a bearish trend. The 12-day EMA and the 26-day EMA are trending horizontally. On July 1, the bulls reached a high of Ƀ0.00000046. The crypto s price fell above EMAs and commence a range bound move above it.  However, the ETN price is in the oversold region of the daily stochastic but above the 20% range. This indicates the price is in a bullish momentum and a buy signal.

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.

[Author Alert] The author’s opinions above are solely based on their own self-conducted research. Assume any and all authors are using, holding, trading and/or buying cryptoassets mentioned as a portion of his or her financial portfolio. Use information at your own risk, do you own research, never invest more than you are willing to lose.

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Author: Azeez Mustapha

Electroneum Price Prediction Today: Daily (ETN) Value Forecast – June 24

electroneum
  • The ETN market was on a downward correction to a low at Ƀ0.00000053.
  • If the bearish trend continues, the crypto will reach the low at Ƀ0.00000046.

ETN /BTC Medium-term Trend: Bullish

  • Resistance Levels: : Ƀ0.00000060, Ƀ0.00000065, Ƀ0.00000070
  • Support Levels: Ƀ0.00000050, Ƀ0.00000045, Ƀ0.00000035

Last week the price of ETN was in a bullish trend. On June 17, the crypto’s price reached a high of Ƀ0.00000070 but was resisted. The ETN market was a downward correction to a low at Ƀ0.00000053. Meanwhile, the crypto’s price is below the 12-day EMA and the 26-day EMA which indicates that price is likely to fall. If the bearish trend continues, the crypto will reach the low at Ƀ0.00000046.

From the Fibonacci tool, ETN price has broken the continuation zone of 0.236 and 0.382 Fib. retracement level. The crypto’s price has also broken the downtrend zones but found support at the 0.786 Fib. retracement level. The current trend of ETN has been reversed. Meanwhile, the price of ETN is in the oversold region of the daily stochastic but above 20% range. This indicates that the price of ETN is in a bullish momentum and a buy signal.

ETN/BTC Short-term Trend: Ranging

On the 1-hour chart, the price of ETN is in a sideways trend. The 12-day EMA and the 26-day EMA are sloping horizontally. The price of ETN is below and above the EMAs which indicates that price is in a sideways trend. However, the ETN price is in the oversold region of the daily stochastic but above the 20% range. This indicates the price is in a bullish momentum and a buy signal.

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.

[Author Alert] The author’s opinions above are solely based on their own self-conducted research. Assume any and all authors are using, holding, trading and/or buying cryptoassets mentioned as a portion of his or her financial portfolio. Use information at your own risk, do you own research, never invest more than you are willing to lose.

[Domain Disclosure] The crypto-community content sourced, created and published on BitcoinExchangeGuide should never be used or taken as financial investment advice. Under no circumstances does any article represent our recommendation or reflect our direct outlook. We b-e-g of you to do more independent due diligence, take full responsibility for your own decisions and understand trading cryptocurrencies is a very high-risk activity with extremely volatile market changes which can result in significant losses. Editorial Policy \ Investment Disclaimer

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Author: Azeez Mustapha

Bitcoin Cash Price Prediction: Long-term (BCH) Value Forecast – June 22

Bitcoin Cash (BCH) to Implement Schnorr Signatures Before Bitcoin (BTC) Core
  • The BCH market was in a downward correction after testing the $457 overhead resistance.
  • The market fell to a low at $384 price level and resumed a range bound move above the 12-day EMA and the 26-day EMA.

BCH/USD Long-term Trend: Bullish

  • Resistance levels: $480, $500, $520
  • Support levels: $460, $440, $420

The BCH/USD pair was in the bullish trend zone. The BCH market was in a downward correction after testing the $457 overhead resistance. The market fell to a low at $384 price level and resumed a range bound move above the 12-day EMA and the 26-day EMA. A bullish trend line has been drawn to determine the duration of the bullish trend. From the trend line tool, as long as the bullish trend is ongoing, the trend line will be unbroken, the price will test the trend line resume its upward move.

However, if the price breaks the trend line and another candlestick closes on the opposite of it, then the current bullish trend is presumed to be terminated. However, the current trend is ongoing. The stochastic is in the overbought region but above the 60% range which indicates that the price is in a bullish momentum and a buy signal.

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.

[Author Alert] The author’s opinions above are solely based on their own self-conducted research. Assume any and all authors are using, holding, trading and/or buying cryptoassets mentioned as a portion of his or her financial portfolio. Use information at your own risk, do you own research, never invest more than you are willing to lose.

[Domain Disclosure] The crypto-community content sourced, created and published on BitcoinExchangeGuide should never be used or taken as financial investment advice. Under no circumstances does any article represent our recommendation or reflect our direct outlook. We b-e-g of you to do more independent due diligence, take full responsibility for your own decisions and understand trading cryptocurrencies is a very high-risk activity with extremely volatile market changes which can result in significant losses. Editorial Policy \ Investment Disclaimer

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Author: Azeez Mustapha

Bit Torrent Price Prediction Today: Daily (BTT) Value Forecast – June 20

BitTorrent Token Declares Liftoff as BTT Token Passes Its ICO Price By 5x Already
  • The price of BTT was in a downward correction after the bulls were resisted at the $0.001800 overhead resistance.
  • The price fell to a low at $0.001161 on June 9.

BTT/USD Medium-term Trend: Ranging

  • Resistance Levels: $0.001400, $0.001600 ,$0.001800
  • Support levels: $0.001200, $0.001000, $0.0008000

Yesterday, June 19, the price of BTT was in a sideways trend. The price of BTT was in a downward correction after the bulls were resisted at the $0.001800 overhead resistance. The price fell to a low at $0.001161 on June 9. The 12-day EMA and the 26-day EMA were contracting as a single line indicating that the price of BTT is in a sideways trend.

The crypto’s price includes small body candlesticks like the Doji and Spinning tops. These candlesticks describe the indecision between the buyers and the sellers. The crypto’s price fluctuates below and above EMAs. As the crypto’s price is fluctuating in a tight range, there is a likelihood of a bullish or bearish breakout. Meanwhile, the price of BTT is in the oversold region of the daily stochastic but below the 60% range. This indicates that price is in the bearish momentum and a sell signal.

BTT/USD Short-term Trend: Bearish

On the 1-hour chart, the BTT price is in a bearish trend. The 12-day EMA and the 26-day EMA are sloping southward. The crypto’s price is falling and at same testing the 12-day EMA to break above the EMAs.

The BTT price is currently trading at $0.001282 price level. Meanwhile, the price of BTT is in the oversold region of the daily stochastic but below the 20% range. This indicates that price is in the bearish momentum and a sell signal.’

Please add a valid coin_id. You can get it from coin page’s url (slug or short name).

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.

[Author Alert] The author’s opinions above are solely based on their own self-conducted research. Assume any and all authors are using, holding, trading and/or buying cryptoassets mentioned as a portion of his or her financial portfolio. Use information at your own risk, do you own research, never invest more than you are willing to lose.

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Author: Azeez Mustapha