Connect with us

Blockchain

Laws Of Parabola Suggest Surging BAND Crypto At Risk Of Deep Correction

Avatar

Published

on

Band protocol may be following in Chainlink’s fiery footsteps, rising nearly 9000% in the last few months. The crypto altcoin has gone fully parabolic, which has rewarded early investors handsomely.

However, when parabolic advances break down, they often correct by 80% or more. Is the altcoin headed towards a deep correction, or will the asset simply keep on climbing?

Top Crypto Asset Go Parabolic, Past Data Suggests Risk Of Correction Increases By The Day

What goes up, must come down. The bigger they are, the harder they fall. So many idioms created just to reference that anything growing beyond acceptable boundaries eventually gets cut back down to size.

That’s exactly what happens when financial assets go on enormous rallies. No matter the asset, even the strongest uptrends eventually top and reverse, leading to a correction.

Related Reading | Peter Brandt Calls For 80%+ Bitcoin Price Decline Over A Year Ago With Chilling Accuracy

How deep a correction goes is largely dependant on the asset itself, and its price history leading up to the top. If the asset experienced a long, slow, and steady climb, then any pullbacks will likely be short-lived and healthy.

If the rally was explosive and fast, well, the correction is likely to be just as violent, if not more so. The same thing happened with Bitcoin after the 2017 top at $20,000. The first-ever cryptocurrency dropped by over 80% to its bottom at $3,200.

The same math adds up on nearly every other asset to break its parabolic advance. That’s why Band protocol, is at risk of a deep correction once a reversal begins and parabolic breaks.

BAND USD Parabola BANDUSD Parabolic Curve | Source: TradingView

Bearish BAND Protocol Signals Back Up Coming Correction Concept

The BANDUSD price chart shows the asset going on an insane, over 9000% rally over the last 6 months. It has been following closely along behind Chainlink, another competing decentralized oracle project.

Both assets have been on an unstoppable climb, even though nearly every sell signal is stacked against the assets. When Band’s parabolic advance does break down, it could send the crypto altcoin to a target of roughly $4.

BANDUSD Daily Ascending Wedge, RSI, and MACD | Source: TradingView

Coinciding with the parabolic curve, nearly every technical analysis indicator is showing heavily overbought conditions. A massive, ascending wedge on the daily also forewarns of the deep drop that may soon follow once the asset tops.

Related Reading | What’s Behind Band Protocol’s Spectacular One-Month 300% Pump?

On weekly timeframes, BAND is trading within an even larger ascending wedge, and indicators show a similar story in terms of overbought conditions.

BANDUSD Weekly Ascending Wedge, RSI, and MACD | Source: TradingView

But as Chainlink has shown, the top may be a lot higher than anyone ever expects. These two altcoins are in full price discovery mode, allowing them to run with little resistance above.

Any top will coincide with major players taking profit, not due to a resistance level the asset must flip to support, as none exists above.

Source: https://www.newsbtc.com/2020/08/10/laws-parabola-oracle-band-correction/

Blockchain

Smart Advertising Transaction Token Doubles Down On Decentralization

Avatar

Published

on

Advertisement

Since launch, Smart Advertising Transaction Token commonly known as SaTT has been making headlines in the crypto airwaves for their revolutionary blockchain-based products. Conceived out of the desire to bring decentralization to the advertising industry, SaTT deploys blockchain innovation to bring transparency, efficiency, and non-custodial advertising gateway to the ad industry. 


SaTT is an influencer-based advertising product that connects advertisers to publishers (social media influencers) together, allowing publishers to create content via these social media channels and in turn get paid for their effort based on the level of engagement derived (number of views, shares, likes, comments of the publication)

With the help of decentralized smart contract oracle, SaTT connects advertisers to publishers (social media influencers) together, allowing publishers to create content via these social media channels and in turn get paid for their effort based on the level of engagement derived (number of views, shares, likes, comments of the publication)

Early this year, SaTT integrated its decentralized advertising solution with the top social media platforms including Facebook, Instagram, Youtube, and Twitter. Allowing advertisers to promote their products and services through influential marketing strategies. 

SaTT Embarks On A 6-Months Journey To Open-source 

What makes SaTT a unique advertising solution is its decentralization powered by blockchain technology, one that isn’t common in the ad industry. Being a brainchild of several years of innovation by experienced blockchain and marketing professionals, SaTT takes decentralization seriously. As such, the project announced sometime in October their plans to go open-source. Commenting on the development, the SaTT team noted that: 

“It has always been clear to us that a blockchain project, decentralized by definition, cannot be constrained by a centralized environment. This is why after much consulting amongst our team, advisors, and associates, we have decided that SaTT is ready to be an open-source project!”

With this move, SaTT aims to build a project that can “benefit from community contributions and exceed our vision and know-how, establishing itself as a universal reference.” For this six months period, SaTT will be focused on releasing its enterprise crypto wallet for iOS users, redeploying the SaTT wallet interfacing, adopting “Pay by SaTT” for enterprise e-commerce, and many more. 

Within this timeframe, every single product released by SaTT will be made open-source. Once open source, SaTT will benefit from wide-range community contributions liken to what is currently being witnessed in the Ethereum community for instance. 

SaTT is currently trading on a couple of centralized exchanges and has taken up the initiative to get onboard on a number of decentralized exchanges (DEXs) to align its commitments to building a sustainable decentralized ecosystem. 

Currently, SaTT is listed on two of the most popular and largest DEXs by trading volume, Uniswap, and Binance DEX. The most recent listing is Binance DEX which came as a surprise move to the community, a development that sets SaTT on the path to becoming a prominent actor in the Binance ecosystem. 

The news of Binance DEX listing was received massively, which resulted in a mammoth rally of over 50% in SATT price to set a new all-time market capitalization of $12.5 million. Since the opening of the year, SATT has rallied more than 150% to reach its current price, with a lot of potential for the future. 

The SATT token is deployed on the Binance Chain as BSATT and is listed under the BNB market, BSATT has been available for trading under the BSATT/BNB pairs beginning from January 8th.

SaTT journey to an open-source, fully decentralized advertising platform sets the project on the path towards providing an advertising solution with the lowest cost, instant and efficient payment network, decentralized governance system, and relevant statistics.

The Founding Team

Blockchain-based advertising solution SaTT was founded by founder and CEO Gauthier Bros who are owners of ATAYEN Inc., a marketing company that has a reputation for developing and deploying business pages for enterprise companies on Facebook. 

The team leverages on its numerous years in the advertising industry to bring a lot of innovation to SaTT. In order to deliver a concise and transparent advertising metric, SaTT utilizes the smart contract oracle developed by ATAYEN to interface between advertising data sources to convey analytical data on the performance of an ad campaign. 

Since its inception, the SaTT team hasn’t fallen short of delivering innovative blockchain-based advertising products both for enterprise and for everyday business use. The project’s journey to open-source positions it towards delivering workable and revolutionary blockchain products. 


Disclaimer: The information presented here does not constitute investment advice or an offer to invest. The statements, views, and opinions expressed in this article are solely those of the author/company and do not represent those of Bitcoinist. We strongly advise our readers to DYOR before investing in any cryptocurrency, blockchain project, or ICO, particularly those that guarantee profits. Furthermore, Bitcoinist does not guarantee or imply that the cryptocurrencies or projects published are legal in any specific reader’s location. It is the reader’s responsibility to know the laws regarding cryptocurrencies and ICOs in his or her country.

Source: https://bitcoinist.com/smart-advertising-transaction-token-satt-doubles-down-on-decentralization/?utm_source=rss&utm_medium=rss&utm_campaign=smart-advertising-transaction-token-satt-doubles-down-on-decentralization

Continue Reading

Blockchain

FXSpotStream to Add FX Algos and Allocation Service

The demand for FX Algos is slowly increasing among institutions.

Avatar

Published

on

FXSpotStream LLC announced on Thursday that it will add several FX Algo strategies, along with FX Allocation services, which will be offered via its API from the second quarter of this year.

The platform will add over 70 different Algos and more than 200 parameters offered by the liquidity providers and can be accessed by the FXSpotStream client base. The FX Allocations will allow its clients on a pre and post-trade basis to send and allocate orders from multiple accounts at the same time.

Speaking to Finance Magnates, FXSpotStream Co-founder and CEO, Alan Schwarz clarified that though the upcoming services are a ‘natural extension’ of its existing services, there is a growing demand for them from its ‘banks and clients’.

“We are an API business and today, the largest by supported volume when looking at the streaming fully disclosed offerings. We, of course, have a GUI, and later this year will have Algos and Allocations available on our GUI,” Schwarz said.

Growing Demand for FX Algos

When compared to equities, the demand for FX Algos is yet to receive mass adoption. However, demand for these services is growing.

“While the volume is still not what we see in Equities, as an example, the amount of volume that is transacted using FX Algos has and will continue to increase for the foreseeable future,” Schwarz added. He elaborated that such services are gaining popularity among asset managers and hedge funds.

Mentioning the advantage of FXSpotStream’s FX Algos, the CEO details that it will be a ‘part of a multibank service support for FX Algos over an API’, something that is not yet seen in the market.

Suggested articles

FBS 12 Years Promo Giving Away $300k, Mercedes-Benz to ClientsGo to article >>

“We are not selecting which of our liquidity provider Algos we will support. We will support all of their available FX Algos.”

Breaching the $11 Trillion Mark

Founded as a bank-owned consortium, FXSpotStream provides a multibank FX aggregation service for spot FX trading, with extended services for the derivatives market as well.

The platform reported excellent volumes throughout 2020, resulting from the market volatility and its continued business expansion. Trading volume for the year crossed $11 trillion, with the ADV increasing 18.52 percent to $42.648 billion.

“For the third year in a row we grew at the fastest rate of all FX services in the industry,” Schwarz said. “Our growth is the result of adding new clients; growing business from our existing clients; a continual expansion of the products we offer, and the underlying functionality.”

Indeed, the number of clients on the platform jumped by 19.64 percent when compared with the previous year.

“We expect to see continued volatility in the market in 2021,” he added. “We also have another very large project we are progressing.”

Continue Reading

Blockchain

Dogecoin Reaches Parity With Russian Ruble After WSB Tweet

After getting “GameStopped,” Dogecoin (DOGE) has caught up with some national fiat currencies across the world today.

Avatar

Published

on

It looks like WallStreetBets (WSB), the group of redditors that recently flipped off Wall Street by pumping GameStop’s stock, have now got “meme crypto” Dogecoin in its sights. In just one day, DOGE has already surged by up to 80%, according to crypto metrics platform CoinGecko.

“Has Doge ever been to a dollar?” tweeted “WSB Chairman” earlier today.

Around the time the message was posted, DOGE’s price surged from $0.0075 to as high as $0.0136 today. At press time, the coin is trading at around $0.0125, up 58% on the day.

Subsequently, the “meme coin’s” price has caught up with some national fiat currencies across the world. For example, DOGE is now trading at a nearly 1:1 exchange rate against the Russian ruble on various trading platforms. On Binance, for instance, one Dogecoin is currently worth roughly 1.025 rubles.

1 DOGE = More than 1 Russian ruble. Image: Binance.

While there is no clear ideological reasoning behind DOGE’s pump today—unlike in GameStop’s case—today’s shenanigans are still spreading like wildfire as users seem to be having fun just for the sake of it.

“in #dogecoin we trust … and our chief elonmusk. Let’s make it worth something .  doge is us, we are doge,” one user tweeted.

As Decrypt reported, the WSB’s pump of GameStop’s stock resulted in huge losses for some Wall Street firms who were shorting the asset and struggled to get out of the trade. The same may have happened to Dogecoin traders—if any of them were shorting it.

Continue Reading
Blockchain3 days ago

SushiSwap BentoBox Addition Pushes SUSHI Token to New Heights

Blockchain3 days ago

How FBC Funds FBC14 ALGORITHM Is Helping Investors to Make High Gains?

Blockchain3 days ago

What role did Tether play in Bitcoin’s recovery?

Blockchain3 days ago

Crypto portfolio platform Coinigy adds new exchanges to its V2 architecture

Blockchain3 days ago

How Is 2021 Shaping Up for Tezos (XTZ)?

Blockchain4 days ago

Yellen Crypto, Bitcoin, IG Group $1bn Buy, Spain FX Warning: Editor’s Pick

Blockchain3 days ago

Six Investment Strategies to Make Bitcoin Less Stressful

Blockchain4 days ago

Puff Bar Implements Vechain, ETH, and BCH

Blockchain1 day ago

DeFi Continues Explosive Growth as Markets Remain Flat

Blockchain3 days ago

Russian Public Officials Have Until April to Sell Their Cryptocurrency Holdings

Blockchain3 days ago

Activist Retail Stock Investors, is a Revolution Taking Hold?

Blockchain3 days ago

The past, present and future of AI in gaming

Blockchain3 days ago

Exclusive: eToro Ended 2020 with $600 Million in Revenue

Blockchain3 days ago

Annual Review 2020 – Wunderbit Trading

Blockchain4 days ago

Crypto Long & Short: No, Bitcoin Was Not a Response to the Financial Crisis

Blockchain3 days ago

Survival of the fittest: A look at how hash rate tokens compete with existing mining products and services

Blockchain1 day ago

Bitcoin (BTC) Continues Consolidation Phase Below Resistance

Blockchain1 day ago

The Difference Between Day Trading and Swing Trading in Forex

Blockchain1 day ago

Bitcoin and How Crypto will Transform the Financial World

Blockchain3 days ago

Covid Passports are Here, and They’re on the Blockchain

Blockchain1 day ago

Profiting from Crypto: Here’s a tool that’s actually useful

Blockchain1 day ago

Melvin Capital Takes Huge Loss on GameStop Position

Blockchain3 days ago

DeFi Market Cap Reaches $45 Billion as Token Prices Shoot Up

Blockchain3 days ago

Ethereum ATH Pushes Staked ETH to $4 Billion, Novogratz Targets $2,600

Blockchain3 days ago

Bitcoin breaks out of crucial 4-day range: what happens next?

Blockchain1 day ago

Bitmain Saga Over: Jihan Wu Steps Down as CEO

Blockchain1 day ago

Education Is Crypto’s Missing Link, Says Grayscale CEO

Blockchain1 day ago

Anonymous Cryptocurrency Transactions Are Surging

Blockchain4 days ago

WEF Davos 2021 has Cryptocurrency on the Agenda

Blockchain1 day ago

Types of Mining

Blockchain1 day ago

Bitmain Saga Over: Jihan Wu Steps Down as CEO

Blockchain1 day ago

India to Conduct Mock Trials for Remote Voting Using Blockchain Technology

Blockchain5 days ago

Stellar Lumens, Cosmos, Zcash Price Analysis: 23 January

Blockchain4 days ago

wNews: All Eyes on Biden, Bitcoin, and the Future of Index Funds

Blockchain1 day ago

DeFi Trading Platform dYdX Raises $10m in Latest Seed Round

Blockchain1 day ago

Ripple Labs slammed with another class-action suit

Blockchain1 day ago

US Man Sentenced to Prison for Embezzling $20M of ICO Investors’ Funds

Blockchain3 days ago

Ethereum ATH Pushes Staked ETH to $4 Billion, Novogratz Targets $2,600

Blockchain3 days ago

Blockchain-based COVID-19 passports to begin trials in Q1

Trending