Monat: April 2022

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Solana-based protocol Delta One raises $9.1 million to build its yield product

Delta One, a Solana-based decentralised finance (DeFi) protocol for yield generation, has raised $9.1 million in a seed round as it looks to expand its ecosystem.

The round was led by Alameda Research and Ship Capital, the protocol said in a press announcement. Delta One also attracted investment from Solana Ventures, Raj Gokal (the co-founder of Solana), investment firm Electric Capital and early stage venture fund AlleyCorp.

Others to participate were Alfred Chuang and Chris McCann, the co-founders of Race Capital.

Delta One eyes ecosystem growth

According to Delta One, the funding round is set to help its team handle the protocol’s core development. The platform also eyes further ecosystem growth, with the main focus being the integration of projects targeting Delta One’s product offering.

The team will also seek to build out its user-friendly structured products. It seeks to have its automated yield farming strategy “delta neutral” available to over 100,000 participants on a waitlist going back to October 2021.

The delta-neutral yield generation strategy allows for high risk-adjusted yield, with virtually no active management from the user’s side. The strategy saves users the would-be hours needed to “crunch numbers and track positions.”

“Delta-neutral farming is a technique that many hedge funds love to use, but it can require spending hours each day crunching numbers and tracking positions when done manually by retail investors,” said DJ Sengh, co-founder of Delta One.

It’s a protocol offering that Delta One hopes can be the foundation of further expansion in the DeFi ecosystem.

“We believe democratizing these strategies through structured products will be a pivotal part of onboarding the first billion users into DeFi,” Sengh added.

As part of its expansion, Delta One is looking to team up with other projects on ventures around lending markets and reserve currencies. The platform is also eyeing partnerships with teams that can help it build sustainable liquidity.

Started in 2021 as part of the Solana Ignition Hackathon, Delta One’s growth over the past half year has been immense. It’s now among the most highly anticipated projects in the Solana ecosystem.

The post Solana-based protocol Delta One raises $9.1 million to build its yield product appeared first on Coin Journal.

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Solana reclaims $100 but downside risk still remains

After dipping below the $100 mark over the last few days, Solana (SOL) has managed to rebound. The coin has surged past this important psychological mark, and it is likely that the momentum we have seen will continue in the days ahead. Here are the main takeaways:

  • Solana (SOL) is looking to establish a decisive bullish breakout.

  • The coin is expected to test its 100-day SMA

  • It has established a bullish trend line in recent days that could bring more returns.

Data Source: Tradingview 

How long can SOL stay above $100

The $100 mark has often been the most important psychological mark for SOL bulls. In fact, it was a huge relief to see the coin surge past it. But how long can SOL stay above this? Well, it will depend on several important factors. First, the recent surge has allowed the altcoin to move past the crucial resistance zone of $105. 

The goal for bulls will now be to convert this resistance to support. If SOL can close the day above $105, then it is likely that we will see a sustained period above $100. At the moment, SOL is slightly above this price, having gained around 7% over the last 24 hours. 

Despite this, downside risks still remain. If SOL falls below $105 and fails to find any leg up, we could see more weakness follow in. Ultimately, the coin will bottom at the next support of $95 before attempting to rise again.

Why is SOL a good buy now?

Well, even with the short-term downside risk that SOL faces, it still remains a fairly decent altcoin to buy. Any long-term crypto investor should consider Solana seriously. But for the short term, if you don’t want to take any risk, wait a few days to see how the altcoin holds up above $105.

The post Solana reclaims $100 but downside risk still remains appeared first on Coin Journal.

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Zilliqa looks poised for a 30% upswing in the coming days

Zilliqa (ZIL) was a huge performer in the last three weeks. The coin saw record-breaking gains even as other coins slowed. But a correction that followed that mesmerizing surge put some breaks on ZIL’s rise. However, the coin still has a lot of potentials:

  • Increased buying pressure could push ZIL up in the days ahead.

  • The coin is now within a crucial demand zone of between $0.097 and $0.121.

  • ZIL has a potential upswing of around 30%

Data Source: Tradingview 

How Zilliqa can regain its momentum

ZIL has been slowing quite rapidly over the last week or so. In fact, after peaking during the last week of March, the token has lost nearly 56% of its value. But after a period of consolidation, the coin has now started to rise again. 

ZIL currently sits in between a very crucial demand zone that ranges from $0.097 to $0.121. In the past, this zone has provided a lot of buying pressure and so far, we are starting to see some uptick in bullish activity. ZIL has surged by at least 7% over the last 24 hours. We expect bulls to continue buying within this zone. 

As a result, ZIL will explode, bringing gains of at least 30% in the process. However, it is unlikely that ZIL will reclaim its all-time high of $0.237. While this is possible this year, in the near term, we expect the coin to face major resistance zones before it even gets close to $0.2.

What are ZIL’s long-term prospects?

After an exponential rally last month that saw gains of around 540%, it is clear that ZIL has run out of steam. In the near and medium-term, we expect the coin to struggle for demand. But in the long term, ZIL still has immense potential, and 2022 could still prove a very successful year for the token.

The post Zilliqa looks poised for a 30% upswing in the coming days appeared first on Coin Journal.

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Apecoin could see massive gains as whales continue to accommodate

Apecoin (APE) has faced a consistent downtrend over the last four days. But today, the coin has bounced back and appears to have reversed the downward pressure. APE is however not done yet. More gains could come as whale accumulation continues. Here are the main facts:

  • APE could add 22% to its value in its recent bull run

  • The coin could however face selling pressure after crossing $15.

  • APE is up 10% over the last 24 hours.

Data Source: Tradingview 

Apecoin – The bullish setup

After peaking at the $17.46 price back in March, APE has struggled to find any decent momentum. Instead, the coin had started to spiral downwards. But it seems this downward trend is now reversing. In fact, APE was up 10% over the last 24 hours. 

This recent bull run could trigger a 22% rally as whales continue to accumulate the coin. RSI also shows that APE is building momentum. As long as the price action remains above $10 in the days ahead, we can expect more gains in the near term. 

However, there is some limited upside potential here. In recent days, the range between $14.23 and $15.98 has proved to be a serious sell zone for investors. We don’t expect this to change anytime soon. Although the 22% upswing is very possible, APE is likely to pull back further down the moment it hits the sell zone above.

How to profit from this setup

There isn’t a lot of downside risk right now for APE. After four down days in a row, it seems the coin is poised for better returns. The best entry price will be between $11.5 and $12.5. It is likely that APE will surge past $14 in the days ahead. This would be the perfect time to sell and earn at least 15% in profit.

The post Apecoin could see massive gains as whales continue to accommodate appeared first on Coin Journal.