Indodax market signal. Towards the end of the year, as usual crypto assets are certainly getting a lot of attention. Starting from the prediction of price increases and decreases to the development plan for each project. Solana is back!
The steady growth of the ecosystem, institutional investment, and healthy derivatives market are strong signals that Solana (SOL) will continue to be a major competitor in 2022. Even with this growth, investors have reason to question whether the current $56 billion market cap is justified and how it compares to rival networks such as Polygon (MATIC), which was also featured on the Bullish crypto asset list this week following the distribution of Uniswap v3 contracts will be backed by a $20 million fund for a long-term liquidity mining campaign and the overall adoption of Uniswap on Polygon.
To discuss the performance of these crypto assets and plans for 2022, let’s find out more here!
5 Bullish Crypto Assets
OKB is a crypto asset released by the OK Blockchain Foundation and Maltese crypto exchange OKEx. In early 2021, rumors circulated that its CEO was under criminal investigation and that the exchange had halted withdrawals. Naturally, some investors fled the exchange when withdrawals resumed. However, OKEx instead took certain steps to re-attract clients. It initiates real-time settlement for all perpetual swaps, futures and options contracts in stages.
Nearly a year ago, the exchange launched the OKExChain mainnet on December 31, 2020, offering the opportunity for early adopters to earn around 10 million OKT tokens as rewards. On January 22, two decentralized applications OKEx Swap and OKEx Farm were launched on OKExChain, allowing users to mine their OKT tokens. If you look at the daily chart, the candle is still pushing up and still moving above the EMA/200 line (302.828) and buying is still dominating the market, the price is now moving in the range of 445 thousand – 487 thousand.
As an Ethereum scaling solution, the Polygon ecosystem has grown rapidly this year, with more than 3,000 decentralized applications built on its network. Earlier this month, Polygon announced it would dedicate up to 250 million MATIC tokens, valued at $627.5 million at the time, to develop zero-knowledge technologies aimed at complex decentralized finance applications. Protocol rollouts and cross-chain migrations have been the biggest drivers of its token price growth for most of the year.
In addition, the Uniswap community has approved a governance proposal seeking implementation of the Uniswap v3 contract through the Polygon PoS Chain. The approval came in the form of on-chain voting involving more than 72.6 million users from the community.
Uniswap Labs announced to deploy Uniswap v3 contracts based on votes reflecting more than 99.3% consensus approval and will be backed by a $20 million fund — $15 million for a long-term liquidity mining campaign and $5 million for Uniswap’s overall adoption in Polygon (MATIC).
Based on the daily chart on the chart, the candle shows an ascending triangle pattern, although there was a small correction to the 26700 level, the MATIC price rose again to the 31000 level and the uptrend could still continue towards its horizontal resistance at the 36000 price level.
Solana (SOL) has become a major competitor in the Smart Contract industry and in the last year, the network’s total value locked (TVL) grew by $660 million and spanned over 40 decentralized applications to reach an all-time high of over $11 billion.
Solana is considered to be an even bigger player in 2022.
According to Cointelegraph, there is strong interest in the Solana ecosystem from major institutions. Solana’s market cap is more than double that of Avalanche and Terra, which have a market cap of $26 billion each.
Solana currently holds the third largest open interest futures, which is the most relevant metric in derivatives contracts. This indicator collects the total number of contracts held by market participants regardless of recent trading activity.
In addition, there is no doubt about an impressive amount of activity coming from Solana’s on-chain data and derivatives market. The network’s TVL has increased 15x over the past six months and Solana’s DApps users make up almost half of the number of users on the Ethereum network.
Solana appears to be rapidly closing gaps in three important metrics: TVL, active users, and derivatives market. Competitors like Terra, Avalanche and Polygon seem far behind, which may justify the market cap premium.
other than Solana, Aave is a decentralized financial protocol that allows people to lend and borrow cryptocurrencies.
Lenders earn interest by depositing digital assets into liquidity pools custom made. Borrowers can then use their crypto as collateral to take out express loans using this liquidity.
Currently, AAVE/IDR is still at the support area of ??2.6 million, but seeing from the RSI it has gone up and the MACD looks like a golden cross, it is possible that AAVE could rise higher than the current level. Strong support is at the level of 2.3 million. The next resistance target is at 2.9 million – 3.5 million.
Hedera Hashgraph (HBAR)
Lastly is HBAR. Hedera Hashgraph is a public distributed ledger technology (DLT) network with high security and proof of ownership. Proof-of-concept, which is proof that a particular method or idea can be applied, uses Hedera Token Service (HTS) and Hedera Consensus Service (HCS).
In late November, Shinhan Bank and Hedera Hashgraph (HBAR) completed a Proof-of-Concept designed to make international remittances using stablecoins on the Hedera Network.
This new way by South Korea’s Shinhan Bank for remittances can send money internationally in seconds for fractions of a penny on the Hedera Network.
Hedera claims that the average fee per transaction on its network is $0.0001, and the average transaction time is 3-5 seconds, both of which are huge improvements over what is currently available from traditional remittances.
HBAR price is currently rising and breaking the EMA/200 (4499), RSI is in the positive zone and MACD is also up with a positive histogram. Buying dominance was restrained up to 4500 and sellers seem to be selling partially to accumulate profits, the bullrun could continue if the price breaks the WMA/85 (4854) line and the HBAR/IDR pair can continue its uptrend to the 5000 – 6000 price range.
5 Bearish Crypto Assets
DYDX is the token that enables the dYdX community to truly govern the dYdX Layer 2 Protocol. By enabling shared protocol control, DYDX enables traders, liquidity providers, and dYdX partners to work collectively towards an enhanced Protocol.
CoinMarketCap’s current rating is #135, with an immediate market cap of $504,044,990 USD and has an outstanding supply of 65,569,295 DYDX and max. supply 1,000,000,000 DYDX.
Loom Network (LOOM)
Loom Network is a platform as a service that is built on top of Ethereum and allows developers to run large-scale decentralized applications. The platform was released on October 1, 2017. Its purpose is to allow application developers to have smart contracts that can access more computing power when needed, or maintain the same power at a lower cost for tasks such as testing to enter new users or applications that does not require full blockchain security to get started. CoinMarketCap’s current rating is #453, with an immediate market cap of $92,651,913 USD. It has a circulating supply of 1,000,000,000 LOOM coins and max. supply is not available.
As one of the big players in the DeFi world, Compound this time is present in the Bearish crypto asset line. DeFi is just three years old with services going mainstream for the crypto community in the summer of DeFi 2021. Lending platforms, such as Compound and Aave, along with decentralized exchanges like Uniswap and Curve, cement their position as market-leading protocols with real, first-mover advantages. , it is not easy.
CoinMarketCap’s current rating is #82, with an immediate market cap of $1,230,348,430 USD and has an outstanding supply of 6,277,513 COMP and max. supply 10,000,000 COMP.
In early December 2021, unfortunately THETA was declared among the worst performing “platforms for decentralized sharing solutions” along with FileCoin.
Whereas, Wes Levitt, chief strategy officer at Theta Labs – a blockchain-powered video streaming network company – told Cointelegraph that the Bitcoin season theory is valid and can be considered a primitive form of sector rotation traditionally seen in equity markets.
CoinMarketCap’s current rating is #40, with an immediate market cap of $4,057,421,232 USD and has an outstanding supply of 1,000,000,000 THETA and max. supply of 1,000,000,000 THETA.
Lastly is TFUEL. Theta Fuel was created when Theta mainnet launched in 2019 and is designed to be the protocol’s operational token, driving on-chain operations such as sending payments and implementing smart contracts.
A significant difference between Theta and other dual token models is that holders who stake THETA on validators and trustee nodes help secure the network and earn TFUEL as a reward. TFUEL is the second token on the Theta blockchain that functions as a utility token in decentralized video and data delivery, also acts as a gas token. This means that it is used to power all operations on the Theta blockchain, such as payments to relays for sharing video streams, for deploying and interacting with smart contracts, and as fees associated with NTF transactions and DeFi applications.
As more THETA is staked on the network, the role TFUEL plays in the ecosystem increases as more tokens start to be used to interact with community members and transfer value.
NOTE: If the 5 EMA crosses the WMA 75, 85 and 200 EMA lines and the lines intersect from the bottom up, then the market trend tends to go up (bullish),
each table above shows that if the 5 EMA value is higher than the 75.85 WMA and 200 EMA, the market tends to go up (bullish). If the RSI and MACD values ??show the same condition, it means that the market is showing the same trend, overbought (overbought) or oversold (oversold) conditions are an indicator that the market is already at the point of changing the direction of the trend.
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