Schlagwort: crypto business

The Unilend Finance price has gone parabolic as demand for the decentralized finance (DeFi) token rise. The UFT token rose to a high of $0.3560, which was the highest level since May 17th this year. At its peak, the coin was up by 190% from its lowest level this year. It has a market cap of $11 million, making it a relatively small coin.

What is Unilend Finance?

Unilend Finance is a relatively small DeFi platform that aims to become a leading player in the industry. Its main feature is that it allows people to trade more cryptocurrencies in its ecosystem. 

It is a permissionless decentralized protocol that combines spot trading services and money markets with lending and borrowing through smart contracts. It is available in Ethereum, Polygon, Moonriver, and BNB Chain.

In its platform, interest rates and collateralization ratio are not determined by insiders. Instead, they are determined by supply, demand, and community governance.

Unilend Finance has several features. For example, it allows permissionless listing, meaning that people can list any ERC-20 token. Further, it allows lending and borrowing to co-exist with trading and investing. It also has liquidity features that make trading relatively easy.

UFT is the native token for Unilend Finance platform. It is the primary governance token that allows participants to take part in its governance. Further, it provides holders with an incentive to encourage participants to contribute and maintain the ecosystem.

The UFT price is rising as investors cheer its recent addition to Coinbase. In a statement, the company said that users will be able to trade the coin against other acceptable coins in the wallet. Historically, cryptocurrencies tend to rally after they are accepted in leading platforms like Coinbase and Binance.

UFT price prediction

The UFT price surged to the highest level since May as investors cheered the Coinbase launch. It has now pulled back slightly but it remains at the highest point in more than a month. The coin has jumped above all moving averages while the Relative Strength Index (RSI) and the MACD have moved above the overbought levels.

Therefore, I believe that this jump will not last for a while. As such, there is a likelihood that it will have a pullback and retest the key support at $0.25. A move above the resistance at $0.33 will invalidate the bearish view.

The post UFT Price Prediction as Coinbase Lists Unilend Finance appeared first on CoinJournal.

The NMR coin price surged on Thursday even as other cryptocurrencies recoiled. Numerai rose to a high of $40, which was the highest point since December last year. It has risen by more than 267% from its lowest level this year. This rebound brings its total market cap to more than $163 million.

What is Numerai and why is it rising?

Numerai is a project that is in the data science space. The platform allows developers to build machine learning models that help to predict the performance of the stock market. These models can then be staked with the NMR cryptocurrency to earn rewards based on performance. 

Developers in the competition receive a free dataset that is made up of high-quality data that has been cleaned and regularized. Winners also earn rewards. By March this year, the developers had paid out over $40 million to its members. 

Numerai, is therefore not a blockchain project like Solana and Ethereum. It is a tournament that is bridging the gap between the stock and crypto market. To participate, members of the tournament are required to buy NMR and stake it. In all, the developers hope to create the next successful hedge fund like Ken Griffin’s Citadel Securities. 

The NMR price is rising after the developers announced that they were making progress on 1 million stoked NMR tokens. At the current price, these tokens are valued at over $30 million. It is also rising because of the ongoing pump and dump that is happening in small-cap cryptocurrencies.

NMR price prediction

The Numerai price has been in a strong bullish trend in the past few days as the number of staked token jumps. It soared to a high of $40, which was the highest point since December. As a result, the token managed to move above the important resistance level at $18.95, which was the lowest level in January this year.

The NMR token has jumped above the 25-day and 50-day moving averages while the Relative Strength Index (RSI) has soared to the overbought level. Therefore, there is a likelihood that the coin will likely drop to the key support at $18.95. 

The post NMR Price Prediction: Is Numerai a Good Buy as it Goes Parabolic? appeared first on CoinJournal.

The cryptocurrency market continues its poor performance this week, with the major coins recording huge losses.

The cryptocurrency market has lost more than $50 billion over the past 24 hours. The total crypto market cap stood above $900 billion yesterday, but it has now dropped towards the $850 billion mark.

Bitcoin, the world’s leading coin, has lost more than 5% of its value in the last 24 hours and now trades below $19k per coin. BTC could drop towards $17k in the near term if the current market momentum persists.

Ether looks set to drop below $1,000 as it has lost roughly 10% of its value so far today. 

SHIB, the native token of the Shiba Inu ecosystem, is also underperforming at the moment. SHIB is down by more than 2% in the last 24 hours, which is lower than what the other major currencies recorded.

The poor performance comes after Shiba Inu performed positively earlier this week. Earlier this week, the Shiba Inu community voted on a proposal that seeks to reward network validators in BONE for their work. BONE is one of the tokens used within the Shiba Inu ecosystem. 

The proposal received 97% support from the community, leading SHIB to perform well. However, SHIB has shed these gains and is now underperforming.

Key levels to watch

The SHIB/USD 4-hour chart has turned bearish as Shiba Inu has erased its earlier gains. 

The MACD line dropped into the negative zone a few hours ago, indicating bearish momentum. The 14-day relative strength index of 38 shows that SHIB could soon enter the oversold region.

At press time, SHIB is trading at $0.00000982. If the bearish trend continues, SHIB could drop below the $0.00000886 support level. In the event of extended bearish performance, Shiba Inu would be forced to defend the support level around $0.00000778. 

The post Shiba Inu lost its recent gains: will it recover and surge higher soon? appeared first on CoinJournal.