Schlagwort: crypto business

The YFII price soared to the highest point since June 25th of this year. The token surged to a high of $1,700, which was about 385% above the lowest level in June this year. The token has a market cap of more than $66 million. 

What is DFI.Money?

DFI.Money is a relatively small DeFi platform that is in the yield farming sub-sector. The platform allows people to earn strong interest by just investing in high-yield tokens. It was created after a hard fork of Yearn Finance, one of the leading platforms in the industry. 

It automatically configures the smart contract financial platform with the best DeFi mining income market. It has low transaction fees and the ability to move tokens across multiple vaults. D

DFI.Money is powered by the YFII token. Users can earn it by contributing liquidity to the ecosystem. It does a similar thing to what UNI does for the Uniswap ecosystem. 

YFII price has bounced back recently as investors focus on the ongoing recovery of the DeFi industry. Recently, the total value locked in the sector has surged to more than $83 billion. While this is lower than the all-time high of almost $250 billion, it is much higher than this month’s low of about $70 billion. 

Investors appear to believe that many DeFi platforms will thrive now that the industry has gone through a stress test. The test has seen companies like Voyager Token and Curve go bankrupt. Therefore, there is a close comparison of what happened during the dot com bubble and the fact that many companies thrived afterward. 

YFII price prediction 

The four-hour chart shows that the YFII price has been in an upward trend in the past few days. It has managed to rise by more than 385%, making it the best-performing coins in the industry. It has moved above the important resistance level at $1,470, which was the highest point on July 19th

YFII is above the 25 and 50-day moving averages while the Relative Strength Index has moved close to the overbought level. Therefore, the coin will likely keep rising now that it has moved above the resistance at $1,470.

The post YFII price prediction: Does DFI.Money Have More Upside? appeared first on CoinJournal.

The CRV price has been in a strong bullish trend in the past few days. Curve rally accelerated after the network announced that it will launch a new stablecoin. It rose to a high of $1.45, which was the highest point since May 31st of this year. It has risen by more than 157% above the lowest level this year, bringing its total market cap to over $569 million.

Curve DAO to launch a stablecoin

The CRV price has been in a strong bullish momentum in the past few days as investors move to blue-chip DeFi tokens. The thinking is that these platforms have gone through a major stress test with the recent crash of cryptocurrencies and the implosion of major platforms like Terra and Three Arrows Capital.

Another theory is that the leading DeFi players like Aave, Uniswap, and Lido will thrive just as companies like Google and Yahoo thrived after the dot com bubble. 

Curve DAO price is soaring after the developers announced that they will launch a new stablecoin that will help to facilitate payments in the ecosystem. The stablecoin will be significantly different from the popular ones like Tether and USD Coin. 

The difference is that it will not be backed by anything like the US dollar or gold. Instead, it will be an over-collateralized coin like Tron’s USDD. These coins are usually backed by volatile assets like Bitcoin and other cryptocurrencies.

Curve DAO’s stablecoin launch comes at a time when many other decentralised platforms are launching their own coins. Maker was among the first ones to launch its token when it launched Dai. Tron recently launched USDD that has a market cap of over $700 million while Near Protocol has USN. 

The risk for these algorithmic coins is that they could easily lose their peg when volatility surges. In addition to Terra UST, other coins that lost their peg are Dei and Neutrino.

CRV price prediction

The four-hour chart shows that the Curve DAO price has been in a strong bullish trend in the past few weeks. As it rose, it managed to move above the upper side of the ascending channel pattern that is shown in blue. 

The coin also rose above the 25-day and 50-day moving averages while the Relative Strength Index and the MACD have continued rising. 

Therefore, the coin will likely continue rising as bulls target the next key resistance at $1.5. After hitting this psychological level, the coin will likely pull back and retest the upper side of the channel. 

The post CRV price prediction as Curve DAO unveils stablecoin plans appeared first on CoinJournal.

• XRP corrects 5% after a week of gains

• Ripple continues to enjoy positive developments on the case with SEC

• XRP could continue to correct until it finds support at $0.33

Ripple’s XRP/USD is recovering, but sustainable gains depend on a key resistance. As of press time, XRP was down 5% in 24 hours as bulls failed to inspire a breakout of $38. The token fell alongside other cryptocurrencies. The decline can be said to be a correction after the market was bullish for a week. 

Revising the SEC case, Ripple remains right on track, although the outcome remains uncertain. On July 12, a US court rejected SEC’s call to withhold some documents against Ripple. The documents, which relate to 2018’s so-called Hinman speech, could have influenced proceedings. Either way, courts continuously siding with Ripple is positive. It suggests that things are progressing well for the firm. The markets are warming up for the outcome of the case that could shape XRP’s price.

As of the moment, XRP remains among the top cryptocurrencies despite the uncertainty. At position 7 by market cap, it is above Cardano and Solana. The latest gains have been due to market sentiment, but XRP has a hurdle to clear at $38.

XRP corrects after rejection at key resistance

 Source – TradingView

Technical analysis indicates that XRP has been rejected again at the key resistance of $0.38. The MACD indicator has crossed below the moving average, suggesting a bearish momentum. Following the latest gains, investors could be taking profits. We expect the current correction to continue. XRP could settle at a support zone of $0.33. It could also slide to another support at $0.30. Investors should watch the two levels for price action and sentiment.

Summary

XRP has a short-term bearish momentum after getting rejected at $0.38. The cryptocurrency could settle at $0.33 or $0.30.

The post Watch these levels as XRP fails at resistance that has been holding price appeared first on CoinJournal.

• LINK has lost 7% due to market correction

• LINK’s recent rally is connected to broader crypto recoveries

• Robinhood listing and entry into Fantom mainnet reinforces Chainlink fundamentals

Cryptocurrencies have been returning huge in the past week. As is expected, market corrections follow. The corrections open up new buy opportunities. That’s exactly what’s happening to Chainlink LINK/USD after losing 7% in a day. 

Chainlink’s LINK recovered successfully from the support of $6.0 as most cryptocurrencies gained. The gains could also be a result of investor interest after Chainlink was listed on Robinhood. 

Another development that could have influenced LINK’s rally is the entry to Fantom Mainnet. Fantom said that both Chainlink Keepers and Chainlink’s Verifiable Random Function went live on its mainnet. That proved that Chainlink was a reliable Oracle provider to smart contracts like Fantom.

LINK’s rally has now hit a snag, and it is important that investors understand the cycles for the token. The technical analysis below illustrates when LINK may rally next.

LINK stalls and corrects with $6.0 in sight

Source – TradingView

A technical outlook of LINK shows uniquely identifiable price patterns that can be useful to investors. The price has remained within the $6.0 and $7.3 range since the start of June. Keen investors would be good buying the support at $6.0 and selling at $7.3. 

As the price hits the resistance, investors can sell now and consider buying the retracement. The token is already under bear pressure as the MACD line crosses below the moving average. The next price in sight is $6.0, although that depends on the prevailing crypto sentiment.

Concluding thoughts

Chainlink’s LINK could continue to correct as technical indicators show. The buying zone is at $6.0, the established support. The established resistance to watch is $7.3. Investors should also watch for a potential breakout above $7.3 for sustained gains.

The post Bearish MACD crossover makes Chainlink vulnerable to $6.0 appeared first on CoinJournal.