Schlagwort: crypto business

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Lido price prediction: Here’s why the LDO token is rising

Lido price continued its recovery trend as blue-chip DeFi tokens continued surged. The LDO token rose to a high of $1.2534, which was the highest point on May 26th. It has risen by almost 200% from its lowest level this year.

DeFi blue-chips jump

Lido is a leading player in the decentralized finance (DeFi) industry. It is a platform that provides liquidity solutions for staked assets. One of the best-known staked assets that in Lido is sETH, which is pegged to Ethereum’s Beacon Chain.

According to its website, Lido has over $5.2 billion worth of staked assets in its ecosystem. Most of these assets are linked to its Ethereum platform. The other popular assets are Kusama, Polkadot, Polygon, and Solana. 

Lido is the fourth biggest DeFi platform in the world with a total value locked (TVL) of more than $5.2 billion. The three biggest ones are Maker, Aave, and Curve Finance.

Lido price is rising as investors buy the dip in blue-chip DeFi tokens. Indeed, these tokens have become the best-performing in the industry. They include coins like COMP, AAVE, CRV, and UNI.

It is unclear why these coins have surged recently. A likely reason is that investors believe that the tokens will become dominant players in the financial industry. For example, while many dot com companies went bankrupt during the last dip, many others like Google and Cisco thrived. 

Another reason is that investors believe that DeFi platforms will be more popular than centralized platforms. That’s because recently, many well-known brands in the industry like Celsius, Voyager, and Vauld have gone out of business. 

DeFi platforms are usually more transparent since they are usually built using open source technology. Further, LDO price has risen because Staked Ether seems to be regaining its peg.

Lido price prediction

The four-hour chart shows that the LDO price has been in a strong bullish trend in the past few weeks. The coin has managed to move from a low of $0.4198 in June to the current $1.2534. It has risen above the 25-day and 50-day moving averages. It has also risen above the key resistance levels at $0.9454 and $0.7345. 

Therefore, it seems like there is a bullish momentum, meaning that the coin will keep rising as bulls target the key resistance at $1.50. This view is in line with my previous LDO price.

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Open DeFi Notification Protocol integration a big relief for Alpaca Finance users

At the start of this year, Alpaca Finance integrated the Notification Protocol and the integration has been of great help to DeFi users especially those that use Alpaca Finance.

Alpaca users are now able to set up “position health” notifications that give an alert when the safety buffer of leveraged positions drops below the specified threshold. This way users can monitor their leveraged positions 24/7 without worrying about missing out on any notification.

Depending on the issued alert, users are able to take immediate action like adding collateral to mitigate liquidation in case of a low safety buffer alert.

What is Open DeFi Notifications Protocol?

Open DeFi Notification Protocol is a community-led initiative that was developed by defi.org. It provides users with free decentralized mobile notifications of any on-chain events that happen. The protocol is powered by the Orbs Network.

The Defi Notification Protocol is fully open meaning anyone can contribute new notifications. One only needs to implement a simple JavaScript web3 class that is responsible for extracting the notification from the data on the chain.

The protocol has an app called Open DeFi Notification Protocol App that is available on both Google Play and Apple AppStore.

What is Alpaca Finance?

Alpaca Finance is the largest lending protocol for leveraged yield farming (LYF) on Binance Smart Chain (BSC). It has a total value locked (TVL) of $ 800 million.

Alpaca borrowers are able to take under collateralized loans for leveraged yield farming positions. The loans enable users to increase their asset base and ultimately their yields.

However, opening a leveraged yield farming position comes with certain risks especially the risk of liquidation. Therefore, borrowers have to find a way of ensuring that they do not cross the liquidation threshold that triggers an automatic liquidation where all positions are closed to repay the debt.

Need for real-time notifications for LYF positions

Alpaca calculates the safety buffer of the entered positions for customers and displays how close the positions are to potential liquidation. However, displaying it does not help much since you may not be available to see the dashboard all the time.

That is where the Open DeFi Notification Protocol integration comes in. Through the integration, Alpaca Finance users can now get real-time notifications not only of real-time on-chain events but also in relation to the calculated safety buffer.

After the integration, Alpaca has also created a notification widget on their Portfolio page user interface to allow users to set alerts seamlessly.

In a nutshell, real-time notifications for DeFi users are a must especially when money is at stake and there is a likelihood of liquidation. With the Open DeFi Notification protocol integration on Alpaca Finance, DeFi users are assured of never missing any crucial alert.

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Coinbase ‘grew a ton in 2021’, and is still adjusting, CEO says

  • Coinbase added to its headcount by 200% year-over-year as crypto saw massive growth.

  • The risks of that is what informed the decision to thin out the employee numbers in June.

  • Now the focus on “driving efficiency” with scaling in mind to better serve customers.

Coinbase is looking at ways to ensure efficiency at all of its operations during these lean crypto times, Brian Armstrong, the CEO of the top crypto exchange said in a blog post.

Commenting on the company’s massive employee growth over the past eighteen months, Armstrong noted that it was a “ton” of growth. However, even as they adjust to that, it’s time to focus on “driving more efficiency.”

According to the Coinbase boss, unchecked workforce growth may see a company slow down and become less efficient. 

When this happens, most largely to massive scaling, getting off the wrong turn often eats up “more dollars, more people and more time” just to get things going. In the meantime;

“Coordination headwinds increase, vetocracies emerge, risk tolerance fades, and teams become inwardly focused instead of staying focused on their customers,” he added, pointing to the risks of unchecked headcount growth.

What great companies do

Armstrong, whose company is among those to lay off employees amid the crypto winter, said that the outcome (layoffs) was what any great company would do.

“Every great company, from Amazon to Meta to Tesla, found ways to retain their founding energy in conjunction with appropriate controls, even as they scaled to be much larger than Coinbase is today,” he wrote.

He explained that in most cases, the so-called great companies always find ways to “maintain their insurgent mindset,” doing so to avoid careening into complacency and turning into an “irrelevant” at a later date.

“That’s why we’re focusing on driving more efficiency at Coinbase. After 18 months of ~200% y/y employee growth, many of our internal tools and organizing principles have started to strain or break. So we’ve been digging in to identify the set of changes we need to make to help us succeed at this new scale,” he added.

One of the steps towards achieving this was to cut their headcount as was done in June. 

The exchange will also continue to find novel ways to add more efficiency to its services, with the objective being to return to that “mindset and approach” by which the company saw much success.

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Is Tron (TRX) about to rally ahead of other cryptocurrencies?

With up to $5 billion in acquisitions underway, Tron could experience FOMO in 2022.

Key points:

  • Tron has a history of high-profile acquisitions that have in the past given it a boost in value.

  • Tron founder, Justin Sun, has announced that they are readying $5 billion for another series of acquisitions.

  • Going by past performance after such acquisitions, Tron could be the most undervalued top 100 cryptocurrencies to watch in 2022.

It’s a tough time for cryptocurrencies, as external and market-related factors pressure the market. This is also a perfect opportunity to search for undervalued cryptocurrency gems that could do well once the markets rebound.

When looking for hidden gems, one of the critical factors to consider is news that could help drive up the value of a cryptocurrency. On this front, Tron looks like a cryptocurrency that could lead the recovery in the coming weeks. This follows an announcement by the founder that the Tron project was about to go on an acquisition spree. If history is anything to go by, this is an excellent reason to invest in Tron (TRX).

A look at the history

After the cryptocurrency crash of 2018, Tron (TRX) was among the first to recover. This followed the move by Tron to acquire BitTorrent, one of the largest peer-to-peer data sharing networks globally.

Is a repeat about to happen?

So, is Tron about to do a repeat of what happened after BitTorrent. In his most recent comments on Tron, Justin Sun, the cryptocurrency founder, said they were ready to spend $5 billion on acquisitions. He added that the focus would be on platforms that have wide adoption. He said that they would target those in Centralized Finance and Decentralized Finance.

Sun further added that the worst could be over for the market and that what will follow is a clean-up process as the market picks itself back up.

Sun’s comments are a big deal and could have several positive implications for Tron (TRX).

Firstly, once the acquisitions start, Tron could experience FOMO. That’s because, at a time like this, when there is little going on in the market, such news will trigger investor expectations of Tron doing well. The potential for FOMO makes Tron a top cryptocurrency worth keeping an eye on in the coming days.

Besides FOMO, such acquisitions would add significantly to Tron’s intrinsic value. For context, the purchase of BitTorrent added significantly to Tron’s inherent value, which is reflected in its value in the 2020/21 rally.

With $5 billion, there are a lot of projects much more significant than BitTorrent that Tron can buy. This means going into the next bull run, Tron’s intrinsic value will be much higher than it is now. This factor could see Tron do multiple times its current price in the next cryptocurrency bull run.

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Should you buy Avalanche token as the price turns bullish at key support?

  • Avalanche’s AVAX crashed as the Luna contagion risks hit the cryptocurrency.

  • Buyer interest in AVAX is high at the $16 level.

  • Investors should consider buying at low prices.

Avalanche AVAX/USD is one of the cryptocurrencies that crashed alongside LUNA. The cryptocurrency fell by double digits at the same time LUNA and UST crashed. Investor fears grew since Avalanche was one of the cryptos held as reserves by the Luna Guard Foundation. Following the crash, AVAXtouched a low of $16 on June 13 from a high of above $100 in early April.

Avalanche’s token AVAX should be on the bucket list of investors. The cryptocurrency has been robust since June 13, holding a key zone at $16. Whether this indicates a price bottom is yet to tell as the crypto sector remains bearish. Nonetheless, the month-long consolidation suggests buyer interest. As such, we believe AVAX is attractively priced for a good buy. 

Avalanche looks set to break past $21 for a bull rally

Source – TradingView

From the technical outlook, AVAX is consolidating. However, it is slightly bullish, with 24-hour gains of more than 6%. The MACD indicators are bullish too. At the current price of $18, we expect AVAX to continue rising. The $21 resistance will hold back the price, with the cryptocurrency testing the level twice in 30 days. If AVAX overcomes the $21 resistance, it could end its bearish market and begin a bullish rally. Investors should consider buying now to lock value before the market takes off.

Concluding thoughts

The crypto sector remains bearish. At the low valuation of AVAX, we think it is a good buy for long-term investors. Buyer interest is high at the $16 support and could offer a bullish catalyst. AVAX could begin a lasting bullish reversal if it clears the $21 level.

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