Nutzer können eine jährliche Rendite von bis zu 6,0 Prozent bei einem Staking-Minimum von 0,001 ETH erhalten. Allerdings gibt es dabei auch Risiken.
Near Protocol gains 9% as bulls try to outwit bears at $4.2. What next?
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Near Protocol token surges 9% and reclaims $4.2
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Crypto recoveries and expected Ethereum Merge potential reasons for the surge
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Momentum remains weak, but NEAR could start a bullish surge if it sustains $4.2
Near Protocol token NEAR/USD buyers are keeping hopes alive as the token reclaims $4.2. The level is the established support for the token of the Layer-1 network. In a single day, the token surged by more than 9%, erasing some previous losses. The gains took NEAR slightly above $4.2, but the momentum remained weak. Trading volume was also up 6.0% in 24 hours, highlighting increased buying pressure. So why is NEAR gaining?
A combination of factors could explain the recent recoveries in NEAR. A spot check indicates that the overall crypto sentiment is improving. Near Protocol is recovering in line with the crypto sentiment. Nonetheless, NEAR gains were above most cryptos. The Ethereum Merge, expected later this month, could be boosting Layer-1 blockchains.
Clearly, there is no specific event boosting Near Protocol token. However, to a technical reader, the current price is one to watch for the next few days.
Near Protocol token price action on the daily chart
Source – TradingView
NEAR trades at $4.6 after capturing the $4.2 level. The minor breakout could have caused the increased buying pressure at the support. A MACD crossover above the moving average is another bullish indicator for the cryptocurrency. The 20-day moving average has joined support. The price is yet to break above the 50-day MA.
Final thoughts
NEAR is a potential buy at the current levels as bullish signs emerge. We need to wait for a bullish confirmation after the close of the daily candlestick. If the candlestick crosses below, that could invalidate the bull call. It is nonetheless important to monitor NEAR at the $4.2 level.
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SEC has authority to crackdown on crypto securities, Gensler says
The SEC chair wants to see cryptocurrency exchanges and brokers register with the agency.
Gary Gensler, the Chair of the US Securities and Exchange Commission (SEC) has once again reaffirmed the agency’s desire to see more crypto companies – exchanges, brokers and so forth – embrace regulation as a step towards consumer protection.
SEC has authority to regulate crypto securities
In a Thursday commentary that Bloomberg reported on, the SEC boss noted that even as they pursue greater involvement and hence accountability from those within the crypto industry, the securities watchdog is already in a position to regulate the space.
According to the regulator, most cryptocurrencies fall under the agency’s regulatory purview by dint of a security’s legal definition. As such, it calls for crypto exchanges, brokers and other providers to embrace compliance.
He said the public within the crypto space deserve to have and enjoy the same protections from crypto issuers as do consumers investing in traditional securities. The comments are not new, with Gensler outlining this same sentiment following the Terra collapse and Three Arrows Capital demise.
He reiterated this perspective in comments that highlighted Bitcoin as a commodity. He repeated the message today as noted by MicroStrategy’s Michael Saylor in a comment shared on Twitter.
The SEC chair also commented on non-compliance and what looks like a reluctance by many to pursue the regulatory goal.
“Not liking the message isn’t the same thing as not receiving it,” the SEC chair said in remarks delivered at a regulatory event in Washington.
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Is Ethereum getting to $2,000 as Chainalysis predicts explosive post-merge growth?
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Chainalysis has projected a strong price rally of Ethereum post-merge
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The soft date for the Merge is on September 19
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Ethereum is gaining and looks set back to $2,000
Ethereum ETH/USD will lead other cryptocurrencies in price after the Merge, according to Chainalysis data. The on-chain analysis firm says the yields that will come after the Merge will attract institutional investors. Chainalysis says increased institutional entry could see Ethereum challenge Bitcoin for the top spot.
Amid the Chainalysis report, the Ethereum ecosystem has been growing thanks to the expected Merge. Institutional stakers have grown from just 200 in January 2021 to top 1,000 at the end of last month. The increased institutional flow indicates growing trust in the blockchain post-merge.
Ahead of the Merge, which is expected around September 19, Ethereum is recovering. At press time, the cryptocurrency was trading up 8.12% in 24 hours and clinging to $1,630. Ethereum developers finalized the first of the two-step process in the Merge on September 6. That could be giving the bullish boosts being witnessed currently.
Ethereum initiates recovery ahead of the Merge
Source: TradingView
Technically, Ethereum lacks a directional movement after a 50% retracement from the $2,000 level. Still, the price can be considered bullish in a wide bearish market. The 20-day moving average has joined the support. The token is still below the 50-day MA. The RSI shows that ETH is neither overbought nor oversold.
Summary
While Ethereum is gaining momentum ahead of the expected Merge, it lacks a directional movement. We cannot tell with certainty that the price will rise to $2,000 in the next few days. Nonetheless, with the benefits of the expected Merge, Ethereum remains a cryptocurrency to hold. Investors should monitor the price movements to buy potential retracements.
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Can MANA sustain the daily surge amid a weak momentum?
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Decentraland has gained 3% in the past day.
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Native MANA token remains key in the metaverse space.
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The token is experiencing a low buying pressure with the RSI at 38.
Decentraland MANA/USD shows early recovery signs. In the past 24 hours, the token has gained 3.2%, but remains 0.49% down in the past week. MANA is not the only token staging a comeback in the metaverse space. Sandbox has pumped 3.66% during the period.
Despite the positive gains, Decentraland is a shadow of itself. The token is down by a significant margin since its ATH of $5 last year. At the time of writing, MANA was exchanging for $0.76. Nonetheless, Decentraland remains a significant crypto project. It supports the emerging crypto sectors like DeFi, DEXs, and NFTs.
Decentraland is a protocol for metaverse and crypto games. On the platform, users can interact, play games, purchase items, or attend virtual events. Its native MANA token is based on Ethereum’s ERC-20 standard.
Looking into the future, the buzz around the metaverse could gain momentum. The popular function where individuals can buy LAND tokens is gaining traction among corporations. The virtual assets represent unique pieces of virtual land that are purchased and sold in an open market. Despite the positive prediction, MANA has some hurdles to overcome in the technical outlook.
MANA trades around key support amid weak momentum
Source: TradingView
According to the daily chart above, MANA is trading around the $0.76 support level. From the chart, the bears still have a bigger control of the metaverse token. At an RSI of 38, the token lacks the buying pressure and can retest lower levels. Moreover, MANA is trading below the 20-day and 50-day moving averages, offering resistance from above.
Concluding thoughts
The current price surge in MANA shows that the bulls are buying the dips. However, the momentum remains low, and the upside potential is low. The current level does not present a perfect entry point since MANA is unlikely to sustain the uptrend. There could be some consolidation around the moving averages.
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