Hello Indodax members, how are you the last week of the first month of 2022? Keep your spirits up when you see the red market, because this time, Indodax Market Signal will give you a peek at 5 crypto assets that have the potential to go up and their analysis. There’s Solana & Hedge! See more here!
5 Bullish Crypto Assets
The first asset we will discuss is Solana. A highly anticipated and eagerly awaited Blockchain project. Solana has the opportunity to help with the rise of crypto assets.
The reason is, the government of El Salvador will offer cryptocurrency-based loans to small companies. Conamype, the National Commission for Micro and Small Enterprises, will be the liaison between investors and a decentralized finance protocol called Acumen, which will be able to provide funding in stablecoins. Its purpose is to help small investors who do not have credit credibility.
The announcement was made by Paul Steiner, President of Conamype, and Mónica Taher, who is in charge of Tech & Economic International Affairs. The organization will provide funding of US$10 million for these companies using Acumen, a decentralized finance protocol that uses the Solana system.*
Had dropped to 1,336,915 then the price of Solana slowly rose to the current level of 1,669,500. The next resistance targets are at 2,047,318 and 2,176.323. Contrary to this assumption, Solana’s next scheme, the price could correct again to 1.3 million and then bounce back up again.
Digital Entertainment Assets Pte. Ltd, headquartered in Singapore has initiated the DEA Project, a blockchain-based NFT DeFi platform featuring NFT, gaming and other forms of entertainment.
The main use of the utility token DEAPcoin (ERC-20) is used in the NFT Marketplace by DEP to purchase NFT (ERC-721) to enhance gameplay within the platform. This platform aims to address IP/copyright issues for secondary market transactions of individual artworks. Part of the sale will be rewarded as royalties to the original creator forever.
The company launched the “PlayMining” platform where users can enjoy playing games, reading manga for free, and earning DEP cryptocurrency. Currently there are more than 1,000,000 registered users (as of April 2021) and growing exponentially, the majority of users are from Indonesia, Vietnam, Philippines and Taiwan.
Did you know, Velo Labs is building a unique federation credit exchange network, you know! The network is powered by the Velo Protocol, which is a blockchain finance protocol that enables the issuance of digital credits and seamless transfer of assets for businesses using the Smart Contract system.
The core mission of the project is to enable partners to transfer value safely and securely between each other in a timely and transparent manner. To do this, the Velo Protocol allows its partners to issue digital credits via the smart contract layer, using the Stellar Consensus Protocol to process and complete transactions. Within its ecosystem, the Velo Protocol enables several business use cases all based on its core function: issuing collateral-backed digital credit, which is compatible with any fiat currency that can be used for frictionless transfer of value.
Alitas is the basic infrastructure of a new generation value network, dedicated to building a new generation of underlying trusted network protocols, and providing customers around the world with an efficient, convenient, secure and stable development and deployment environment. The unique Eyebrow architecture completely replaces the traditional chain structure. A disturbing breakthrough in traditional directed acyclic graph (DAG) theory. Alita structure is used to organize blocks. While achieving decentralization and complete completeness, under Alitas architecture, TPS can reach 30,000+ per second. Break the performance bottleneck of the consensus mechanism. Technically pioneered “Tolerance Algorithm” and “Star Drop effect”. “Tolerance algorithm” instead of consensus completely resolves data consistency, and “Star Drop Effect” greatly improves the random attribute of the node’s legal reference, and realizes high transaction privacy security.
Who here is confused about BTC experiencing Bearish? Don’t worry, we have a solution! Get to know HEDGE.
This token is one of the FTX tokens. In other words, this innovation can give you leveraged exposure to the crypto market, without all the need to manage leveraged positions. You can buy leveraged tokens just like regular tokens on the spot market, however, you don’t need to manage collateral, margin, liquidation prices, or anything that normal margin users need to manage as long as prices are maintained by FTX.
Since this token is a token of the FTX exchange, as usual, you have to find out the fundamental and technical analysis beforehand, yes! All crypto asset trading decisions are independent decisions by the user. Therefore, all risks arising from it, whether profit or loss, are not the responsibility of Indodax.
Currently, Short Tokens such as Short Bitcoin Token or HEDGE and Short Ethereum Token or ETHHEDGE can already be traded on the spot market, such as Indodax. But, how does it work? Isn’t it in the spot market, we can only make a profit when the price goes up?
5 Bearish Crypto Assets
This crypto asset is very well known for its collaboration with Polkadot. Kusama is a public blockchain network that runs the same codebase as Polkadot. It aims to be a canary build for the Polkadot network which is an experimental and development environment for new features that will eventually be deployed to Polkadot.
One of the largest public chain aggregator foundations in South Korea, ICON, announced that it will be providing a $200 million incentive to the ICON community and its network of partners to adopt the ICON Blockchain Transmission Protocol, or BTP.
Well, BTP integration is currently underway with many blockchains including Binance Smart Chain, Polkadot, Kusama, Moonriver, Astar Network, Edgeware, Acala, NEAR and Harmony.
Do you think it can bring Kusama to be Bullish or not?
As discussed a few weeks ago, dYdX published the fourth iteration of its roadmap outlining plans to develop the platform into an open source, community-centric, and fully decentralized operation later this year.
The architecture operates on a dual model where parts of the protocol, such as staking while core functions such as the off-chain order book and matching engine are controlled by an internal subsidiary, dYdX Trading Inc. and supported by a centralized server like Amazon Web Services, you know! Alongside its aspirations for decentralization, dYdX is also pursuing improvements to its interface trading platform, introducing spot, margin, and synthetic trading opportunities, and appointing external auditors to assess business operations. Just like Kusama, do you think this effort can increase the price of dYdX?
Bitcoin fell below 555 million to 540 million. support zone on Jan. 21, indicating panic selling. Sales continued on January 22 and the price dropped to 500 million. The sharp declines in recent days have brought the (RSI) close to the 20 level, suggesting that selling may have been oversold in the short term. Usually, such oversold levels are followed by consolidation and the price tends to move sideways first. The recovery attempt is likely to encounter strong resistance at the 520 million level. If the price of 505 million to 500 million turns into resistance, this will indicate that sentiment remains negative and traders take a sell-off.
The bears will then try to resume the downtrend and sink BTC to the key support at 450 million. The breakout will be an indication that selling is getting stronger and the price will continue to depreciate. If the price breaks from this resistance and falls below 450 million, selling could increase. On the other hand, a break of the 520 million resistance could open an opportunity for BTC to move higher, and make psychological support to go higher and traders’ confidence levels to return, and the price to be able to rise even higher to the next level of 550 million – 600 million.
Ocean Protocol is a blockchain-based ecosystem that allows individuals and businesses to easily unlock the value of their data and monetize it through the use of an ERC-20 based data token. Ocean Protocol was co-founded in 2017 by a group of experienced consultants and entrepreneurs, who together have a wealth of experience developing and growing high-tech businesses.
v.systems is a blockchain infrastructure provider with a focus on databases and cloud services. Powered by the Supernode Proof-of-Stake (SPoS) consensus algorithm, each supernode is selected in a decentralized network according to the Proof-of-Stake (PoS) principle. According to his team, they provide high-performance printing, transaction processing and Smart Contract functions. VSYS is a native crypto asset for the v.systems blockchain platform with use cases such as transactions, staking and printing on the network.
The v.systems team aims to deliver decentralized cloud database technology with high scalability, durability and performance. With Sunny King as the lead architect, v.systems has designed and implemented Consensus SPoS, which the team claims is an efficient distributed consensus algorithm with 51% attack resistance. The network plans to operate as a cloud platform based on a modular system that can support the efficient and agile development of a number of applications such as finance (DeFi), entertainment and social networking.
NOTE: If the EMA is 5, it passes through WMA 75, 85 and EMA 200 and the lines intersect from the bottom up, then the market trend tends to rise (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.
ATTENTION: All content which includes text, analysis, predictions, images in the form of graphics and charts, as well as news published on this website, is only used as trading information, and is not a recommendation or suggestion to take an action in transacting either buying or selling. certain crypto assets. All crypto asset trading decisions are independent decisions by the user. Therefore, all risks arising from it, both profit and loss, are not the responsibility of Indodax.