Ascending channel pattern and Ethereum options data back traders’ $5K ETH target
ETH price dropped to $4,400 during Thursday’s correction, but data shows traders expect the altcoin to surpass $5,000 soon.
ETH price dropped to $4,400 during Thursday’s correction, but data shows traders expect the altcoin to surpass $5,000 soon.
Hey y’all So I noticed that the S&P500 is priced almost as much as Ethereum. Measured from around $300 to current prices and this was an interesting find: It took the S&P 31 years from Nov 1990 – Nov 2021 to put in the same gains (about 1500%) compared to Ethereum in 1 year and…
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The current social media landscape is based on a time-tested format that only allows fans to interact one way with celebrities. For instance, they can view photos of their favorite celebs, read their opinions, see their videos, and more. However, this one-way interaction is never reciprocated since celebs have no way of responding effectively to millions of their fans. The Solution Promify, a blockchain-based social token aims to change the current social media landscape. Through this platform, fans can purchase customized tokens from their favorite celebrities and use these tokens to interact with celebrities. The result is a better two-way interaction that offers exclusive access to their concerts, merchandise, and more. How It Works Promify is designed as a simple mobile link that allows a celebrity to launch a personally-branded crypto coin (Celeb Coin). This coin is useful for boosting fan engagement and it lets fans gain early access to things like exclusive NFTs, events, and merchandise. Those who hold the Celeb tokens will receive special access that allows them to engage with their favorite celeb, who would have otherwise been out of reach. For instance, they could get access to exclusive NFT drops, group fan meetings, backstage passes, and more. Celebrities that give out the tokens, also personally gain by being able to identify “Superfans” who are buying their coins. These are fans with a vested interest in making the celebrity a success. Consequently, their exceptionally loyal fans are incentivized to share the success of their favorite celebrities. How Celeb Coins Work Promify believes that celebrities should be able to monetize their time on social media. Unless they are part of the top 1% of celebrities in terms of following, most celebrities do not make anything from their time online. If they do, it contributes little to their general income. Promify believes and their fans should have a chance to monetize their time. It should not only be the social media platform that benefits. To do this, those that Promify deems fit will get a Promify link. This link will allow them to create Celeb Coins (CC). A creator is allowed to create up to 100,000 CC. in total, and are allowed to hold onto at most 15% of the coins they create. This ensures that their fans and not themselves hold the power at all times. Once bought, celebrities can give the holders special access. They could get access to exclusive NFTs, backstage access, fan meet-ups, and more. The Future of the Social Token Economy Promify is designed as the future of online social engagement between fans and celebrities. It is going to revolutionize the social token economy and pave the way for new income streams for fans and celebrities. It will ensure that loyal fans get rewards for their devotion to their favorite celebs. At the same time, it will ensure that celebs can monetize the time and effort they put into creating content for social media. Protective Mechanisms Promify has some protective mechanism that will ensure fans and celebs do not experience the price manipulation of their tokens. One of them is a sales cap. It is designed to limit how many tokens a single wallet can hold for early adopters. Such a move is designed to keep pump-and-dumps tactics at bay. Instead, CCs are designed to grow in value as the fame of a celebrity grows in real life. For instance, there is a vesting period for the creator of Celeb Coins. It ensures they cannot simply pump-and-dump coins. They actually have to put in the work needed to promote coins and grow their value. There is also a daily sales restriction, which ensures those holding the coins are protected from sudden market movements. All of these measures are designed to ensure that a sustainable and beneficial long-term ecosystem is created for fans and celebrities. Fans get value for the time they spend promoting their favorite celebs while celebs gain for the time they spend creating content for their followers.
The more i dive deep in Ethereum Layer2 rollups and side chains, the more i realize ETH/BTC ratio is gonna go wild. $BTC is like a ‘storage of value’ or ‘inflation shield’ more than daily usage, i mean, do you use $BTC for payments? Mostly other cryptocurrency options are on use for that. So, meanwhile…
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Though the exchange’s holding company is registered in the Cayman Islands, Binance currently has no formal headquarters anywhere in the world.
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Let's say it everyone: Money makes Money2. Today, worlds "objectively best" media cooperation CNBC, made another great article, about 2 kids making $160K from mining Crypto, and as a miner myself I want to quote some things from their article. Our heroes, two kids named Ishaan Thakur, (14) and his sister Aanya, (9). They started…
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On November 10, the non-fungible token (NFT) marketplace Rarible.com and the Rarible protocol announced an integration with the Flow blockchain. The announcement details that Rarible users can now create, list, and trade Flow-based NFTs on the marketplace. Rarible Partners With Flow Blockchain The NFT market Rarible.com and the Rarible protocol have revealed the support of […]
Terra (LUNA) has surged during the past week after a period of consolidation as the network has begun burning the supply of its native token. As of press time, LUNA trades at $51,16 with a 5% loss in the daily chart. Related Reading | Why The Terra Ecosystem Delayed A Major Mainnet Upgrade For Late September Yesterday, before Bitcoin and major cryptocurrencies dropped from new-all times highs, LUNA started a breakout to the upside and seem ready to breakthrough the resistance at $54. However, the rally was spoiled by the flash crash and LUNA was rejected near the mid area around its current levels. The rally seems drive by the implementation of 3 major upgrades on the Terra mainnet. As NewsBTC reported 3 weeks ago, the network was ready to introduce the Colombus-5 and Wormhole v2 with the Inter-Blockchain Communication (IBC) protocol upgrade. The first of these 3 improvements COL-5 was set to implement a deflationary mechanism for LUNA. In addition, the upgrade was designed to increase Terra’s interoperable capabilities. In the past year, tokens with a burning supply system have seen great appreciation. For example, Binance Coin (BNB) rose from the low $50 and reached an all-time high above $600. Ethereum and its recently integrated EIP-1559 is another example. The network changed its fee model to burn a portion of ETH with each transaction. LUNA could follow a similar path with $80 as a potential reasonable target for LUNA in the short term but could record further gains above $100 and join Solana (SOL) as one of the top performers in 2021. Investor Daniel Cheung has been very bullish on Terra (LUNA) and its ecosystem due to its potential to disrupt the stablecoin sector. Upon launch of the burning mechanism, Cheung said: Thesis for $LUNA is playing out; $140 price target in the short term still holds. Long term, Terra is one of the few protocols with the potential to be in the trillion-dollar market cap range given TAM for stable coins is infinite. 🔥has started Parabolic pic.twitter.com/Yi1FSTZjSz — Do Kwon 🌖 (@stablekwon) November 10, 2021 Terra (LUNA) Started Its Moon Phase? With Bitcoin moving sideways after the crash, the altcoin market could take the opportunity to diminish the BTC dominance. For LUNA this could translate into price discovery. Related Reading | Why Terra (LUNA) Will Reward Users With New Community Bounty Program To achieve this goal, LUNA must reclaim $54 and smash through the resistance at $56 with a potential short-term price target at $60. Cheung added the following on LUNA’s potential to enter the top 10 by market cap, the current phase of the bull run, and the asset’s fundamentals: It is important to learn to zoom out on the charts. $LUNA & $SOL are amazing buying oppts here, bullish structure still very strong and story continues to get better here. The run is not over yet and both will go parabolic soon. Best assets always have bids.