Chainlink set to power Latin American real estate platform

May 5, 2022 Coin Telegraph

Chainlink

Chainlink is set to automate rental payments to property owners of a Latin American real estate platform, adding a new blockchain use-case for the sector.

The tokenization of global property markets has been an ambitious goal of the blockchain space and decentralized finance (DeFi) could offer a novel solution for the sector to pick up pace.

Decentralized oracle network Chainlink (LINK) is set to power a tokenized real estate platform serving the Latin American property market. LaProp will allow investors to buy tokenized shares in various real-world properties, which will yield a percentage of income from rental payments.

LaProp will look to leverage Chainlink Keepers’ node operators' track record in securing billions of dollars invested in DeFi markets. The decentralized automation service carries out tasks for smart contracts on the BNB Chain and, in this instance, will automate secure rental payouts to token holders.

The platform intends to give retail investors the ability to gain exposure to real estate, which would otherwise be inaccessible due to a large amount of capital historically required to enter property markets.

Chainlink’s ability to handle smart contract functions will see rental paid by tenants automatically distributed to multiple token holders of the given property. Payment terms and schedules can also be edited per property.

The idea of tokenizing real estate ownership is not novel but the promise of a tried-and-tested service to manage rental payments and property ownership has the potential to attract renewed investor interest.

Dreams of blockchain-powered real-estate ownership were looking shaky almost a year ago, as a handful of tokenized real estate projects that laid the groundwork for this realization hit turbulence. This led to industry experts casting aspersions on the future integration of the sectors.

While other industries have seen blockchain-powered platforms and services flourish, the tokenized real estate market is yet to boom, with just a handful of operating platforms that allow users to acquire ownership of the property through tokenized shares.

The closest solution to LaProp’s Chainlink-powered platform is Web3 business solution Lofty AI. As Cointelegraph previously explored, Lofty AI gives users the ability to invest in listed properties and gain shared ownership. This provides access to governance decisions and a share of rental income — much like LaProp intends to provide.

‘Proptech’ firm Propy grabbed headlines early in 2022 as its own token saw significant gains. The firm facilitated the first sale of a property nonfungible token (NFT) in the United States for 210 Ether (ETH), powering the first-ever property NFT auction. It saw TechCrunch Founder Michael Arrington’s apartment in Ukraine’s capital of Kyiv sold.

Other projects have focused on helping prospective property investors gain access to finance through their cryptocurrency holdings. In January 2022, fintech startup Milo launched a service that gives users access to 30-year mortgages by leveraging Bitcoin as collateral against the loan.

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Top 5 cryptocurrencies to watch this week: BTC, XRP, LINK, BCH, FIL

April 17, 2022 Coin Telegraph

Bitcoin

Technical charts indicate that Bitcoin, XRP, LINK, BCH and FIL may be on the verge of a sharp breakout, but traders are unsure of the direction.

Bitcoin (BTC) and most major altcoins have been relatively quiet during the holiday period from Good Friday onward. This suggests that cryptocurrency traders are not initiating large bets during the period when the U.S. equities markets are closed. That could be because of the tight correlation between Bitcoin and the S&P 500 and the uncertainty about the equity market’s performance in the next week.

While some analysts expect weakness in the near term, others believe that Bitcoin could be in a consolidation phase with a large portion of its upside in the four-year halving cycle yet to come. Josh Olszewicz, head of research at alternative asset management firm Valkyrie, said: “Interesting. Maybe we never got the blow-off top...because it hasn't happened yet."

*Crypto market data daily view. Source:* *Coin360*

Although Bitcoin’s price action has been lackluster in the past few days, some altcoins, which found a place in Coinbase’s list of 50 crypto assets under consideration for listing, have witnessed strong trending moves. This suggests that the action has become more coin-specific while the broader crypto market awaits fresh triggers to start a trending move.

Could Bitcoin and select altcoins start a directional move in the next few days? Let’s study the charts of the top-5 cryptocurrencies that may be showing early signs of a recovery.

BTC/USDT

Bitcoin formed an inside-day candlestick pattern on April 16, indicating indecision among the bulls and the bears. Usually, small range days are followed by a range expansion but it is difficult to predict the direction beforehand.

If the price breaks above $41,000 the bulls will attempt to push the BTC/USDT pair above the 20-day exponential moving average ($42,085). If they succeed, the pair could start an up-move to the overhead resistance at the 200-day simple moving average ($48,136) and later to the resistance line of the ascending channel.

The downsloping 20-day EMA and the relative strength index (RSI) in the negative territory indicate a minor advantage to bears.

If the price turns down and breaks below $39,200, the selling could intensify. The pair could then plummet to the support line of the channel. A break and close below this support could extend the decline to $32,917.

*BTC/USDT 4-hour chart. Source: TradingView*

The 4-hour chart shows that the price has been clinging to the 20-EMA, indicating that bulls are attempting a comeback. If the price breaks above the overhead resistance between the 50-SMA and $41,561, the pair could rally to the 200-SMA. The bears are expected to mount a strong defense at this level.

This positive view will invalidate in the short term if the price turns down from the current level and breaks below $39,200. The pair could then resume its correction and drop to the strong support at $37,000.

XRP/USDT

Ripple (XRP) rebounded sharply off the strong support at $0.69, indicating strong demand at lower levels. The bulls pushed the price above the 50-day SMA ($0.78) on April 15 but could not continue the up-move. However, a minor positive is that the bulls are attempting to sustain the price above the 20-day EMA ($0.77).

The flat 20-day EMA and the RSI near the midpoint suggest a balance between supply and demand. This balance will shift in favor of the bulls if the XRP/USDT pair rises and breaks above $0.80. That could propel the pair to the 200-day SMA ($0.88) and then to the strong resistance at $0.91.

Contrary to this assumption, if the price breaks and sustains below the 20-day EMA, it will suggest that the bears are active at higher levels. The sellers will then attempt to pull the pair to the strong support at $0.69.

*XRP/USDT 4-hour chart. Source: TradingView*

The 4-hour chart shows that the bears are aggressively defending the overhead resistance at the 200-SMA but they have not been able to sink the pair below the 20-EMA. This suggests that bulls are buying on dips.

If the buyers drive the price above the 200-SMA, the bullish momentum could pick up. The pair could then rally to $0.85 where the bears may erect a stiff barrier. On the downside, a break and close below the 20-EMA could invalidate the bullish view in the short term and sink the pair to the 50-SMA.

LINK/USDT

Chainlink (LINK) rose above the downtrend line on March 30 but the bulls could not sustain the higher levels. Strong selling near $18 pulled the price back below the downtrend line but a minor positive is that the buyers purchased the dip near $13.50 and are attempting to form a higher low.

The first sign of strength will be a break and close above the 20-day EMA ($15). Such a move will suggest that the bears may be losing their grip. The LINK/USDT pair could then rise to $16 and later challenge the overhead resistance at $18. A break and close above this level could open the doors for a possible rally to the 200-day SMA ($21).

Conversely, if the price turns down from the 20-day EMA the bears will attempt to pull the pair to the critical support at $12.50. A break and close below this level could signal the resumption of the downtrend.

*LINK/USDT 4-hour chart. Source: TradingView*

The pair has risen above the downtrend line on the 4-hour chart and the 20-EMA and the 50-SMA are on the verge of completing a bullish crossover. This suggests that the bulls are attempting a comeback.

If the price sustains above the 20-EMA, the pair could rally to $16 where the bears may again pose a strong challenge. The bullish momentum could pick up if buyers overcome this barrier.

Alternatively, if the price turns down and breaks below the 20-EMA, it will suggest strong selling at higher levels. The bears will then attempt to pull the pair below $13.50.

BCH/USDT

Bitcoin Cash (BCH) has been trying to form a bottom for the past several days. The price rose sharply on April 13 and broke above the 20-day EMA ($339). Although the bulls could not build upon the up-move, a positive sign is that they have not allowed the price to dip below the 50-day SMA ($329).

The 20-day EMA is attempting to turn up and the RSI is above 53, indicating a minor advantage to the bulls. If buyers propel the price above $354, the up-move may resume and the BCH/USDT pair could rally to the overhead resistance at $395.

The bears are likely to defend this level with vigor. If the price turns down from $395, the range-bound action may extend for a few more days.

If the price turns down and breaks below the 50-day SMA, the bears will attempt to pull the pair down to the strong support at $259.

*BCH/USDT 4-hour chart. Source: TradingView*

The 4-hour chart shows that the pair rallied sharply from $290 to $353. This may have tempted short-term traders to book profits but a positive sign is that the bulls did not allow the price to slide below the 20-EMA. This suggests that the sentiment remains positive and traders are buying on dips.

The rising 20-EMA and the RSI in the positive zone indicate advantage to buyers. If the price breaks above $354, the up-move may reach $380 and then $395.

FIL/USDT

Filecoin (FIL) has been range-bound in a downtrend. The bulls are attempting to form a basing pattern and the price has been consolidating between $16.50 and $27 for the past few days.

The 20-day EMA ($21) and the 50-day SMA ($20) are flattish and the RSI is near the midpoint, suggesting a balance between supply and demand.

If bulls sustain the price above the 20-day EMA, the possibility of a rally to the overhead resistance at $27 increases. The bulls will have to push and sustain the price above this level to signal the start of a possible new uptrend.

This positive view could invalidate in the short term if the price breaks below the 50-day SMA. The bears will then try to sink the FIL/USDT pair to the strong support at $16.50. A break and close below this level will indicate the resumption of the downtrend.

*FIL/USDT 4-hour chart. Source: TradingView*

The bears are defending the overhead resistance at $22 but a minor positive is that the bulls have not allowed the price to break below the 200-SMA. If the price rises from the current level and breaks above the $22 to $23 resistance zone, the bullish momentum could pick up and the pair may rally to $27.

The 20-EMA and the 50-SMA are completing a bullish crossover and the RSI is in the positive territory, indicating advantage to buyers. This positive view may invalidate in the short term if the pair turns down and breaks below the 200-SMA.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk, you should conduct your own research when making a decision.

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Top 5 cryptocurrencies to watch this week: BTC, ADA, AXS, LINK, FTT

March 27, 2022 Coin Telegraph

Axie Infinity

ADA, AXS, LINK and FTT may start a strong recovery in the next few days if BTC holds the $45,000 level as support.

Bitcoin (BTC) is attempting to notch its second successive weekly gains and end at the highest weekly closing price year-to-date. According to on-chain data from Glassnode, the recovery in Bitcoin’s price was driven by demand in the spot markets. This is likely to cheer the bulls because history suggests that spot market demand leads to sustained upside.

Another positive sign is the strong demand for the ProShares Bitcoin Strategy exchange-traded fund (BITO) in the past two weeks, which pushed its exposure to a record high. Arcane Research said the strong inflows “suggest that Bitcoin appetite through traditional investment vehicles is increasing."

Along with Bitcoin, the broader crypto space is also attracting investors. According to research firm Fundstrat, venture capital buyers pumped $4 billion into the crypto space in the last three weeks of February.

Could buyers sustain the momentum and extend the relief rally in Bitcoin and altcoins? Let’s study the charts of the top-5 cryptocurrencies that may outperform in the short term.

BTC/USDT

The long wick on Bitcoin’s March 25 candlestick shows that the bears are defending the overhead resistance at $45,400. A minor positive is that the bulls have not given up much ground, suggesting that the traders are not closing their positions in a hurry.

The 20-day exponential moving average ($42,025) has turned up and the relative strength index (RSI) is in the positive territory, indicating that bulls are in command. If buyers drive the price above $45,400, the BTC/USDT pair could rise to the resistance line of the ascending channel.

This level may again act as an obstacle, but if bulls overcome it the pair could rally to the psychological level at $50,000.

Contrary to this assumption, if the price turns down from $45,400, the bears will try to pull the pair to the strong support at $42,594. This is an important level to watch on the downside because if bulls flip it to support, the possibility of a break above $45,400 increases.

The bears will have to pull and sustain the price below the moving averages to signal that the bulls have been pushed to the back foot.

The 4-hour chart shows that the price turned down from the overhead resistance but the bulls did not allow the pair to break below the 20-EMA. This suggests that traders are buying on every minor dip.

The rising moving averages and the RSI near the overbought zone suggest that the path of least resistance is to the upside. This positive view will invalidate in the short term if the price breaks and sustains below the 20-EMA. In that case, the pair may drop to $42,594.

ADA/USDT

Cardano (ADA) has been sustaining above the critical level at $1 for the past few days. This indicates that bulls who may have purchased at lower levels are not booking profits aggressively as they expect the recovery to continue.

The moving averages have completed a bullish crossover and the RSI is in the positive zone, indicating that bulls have the upper hand. If buyers push and sustain the price above $1.26, the bullish momentum may pick up and the ADA/USDT pair could rally to the next critical resistance at $1.60.

Alternatively, if the price turns down from $1.26 but rebounds off $1, it will suggest that the pair may remain range-bound between the two levels for a few more days. The bears will have to sink and sustain the price below the moving averages to invalidate the bullish view.

*ADA/USDT 4-hour chart. Source: TradingView*

The 4-hour chart shows that the bears are aggressively defending the overhead resistance at $1.20 but a minor positive is that the bulls have not allowed the price to sustain below the 20-EMA. If the price rises from the current level, the bulls will again try to clear the hurdle at $1.20 and push the pair to $1.26.

Alternatively, if the price turns down and breaks below the 20-EMA, it will suggest that the bullish momentum has weakened. The pair could then gradually decline toward the strong support at $1.

AXS/USDT

Axie Infinity (AXS) has been trading between $72 and $44 for the past few days. The buyers pushed the price above the overhead resistance on March 25 but could not sustain the higher levels. This indicates that the bears are defending the level with vigor.

The moving averages have completed a bullish crossover and the RSI is in the positive territory, suggesting advantage to buyers.

If the price turns up from the current level or rebounds off the 20-day EMA ($56), the bulls will again try to thrust the AXS/USDT pair above $72. If they manage to do that, the up-move may pick up momentum and the pair may rally to $100.

This positive view will invalidate if the price continues lower and breaks below the 20-day EMA. That could keep the pair range-bound for a few more days.

*AXS/USDT 4-hour chart. Source: TradingView*

The 4-hour chart shows that the bulls pushed the price above the overhead resistance at $72 but could not sustain the higher levels. This may have attracted profit-booking by the short-term traders which pulled the price below the 20-EMA.

If the price turns up from the current level and breaks above $68, it will suggest accumulation on dips. The buyers will then try to clear the obstacle at $72 and start a new up-move.

Contrary to this assumption, if the price sustains below the 20-EMA, the correction could extend to the 50-simple moving average.

LINK/USDT

Chainlink (LINK) has been trading inside a massive range between $13 and $36 for the past several months. Although bears pulled the price below the support of the range, they could not sustain the breakdown. This suggests that the markets rejected the lower levels.

The moving averages have completed a bullish crossover and the RSI is in the positive territory, suggesting that the buyers have the upper hand. The rally may face resistance at the downtrend line but if this barrier is crossed, the LINK/USDT pair could rally to $20.

Alternatively, if the price turns down from the current level, the moving averages are likely to act as strong support. If the price rebounds off it, the possibility of a break above the downtrend line could increase. This positive view will invalidate if the bears pull the price below the moving averages. That could open the doors for a possible drop to $13.

The bears are mounting a strong defense at $16.50 but a minor positive is that the buyers have not allowed the price to slip below the 50-SMA. If the price rises from the current level or rebounds off the moving averages, the bulls will try to propel the pair above $16.50. If they succeed, the pair could rally to $17.50.

Contrary to this assumption, if the price breaks below the 50-SMA, it will suggest that the short-term bulls may be closing their positions. There is a minor support at $15 but if it gives way, the pair could slide to $14.

FTT/USDT

FTX Token (FTT) broke and closed above $49 on March 24, completing an ascending triangle pattern. Although buyers pushed the price above the psychological resistance at $50 on March 25, they could not sustain the higher levels.

This suggests that the bears have not yet given up and they continue to sell at higher levels. The bears will now try to pull and sustain the price back below $49. If they manage to do that, the aggressive bulls who purchased the breakout from the triangle may get trapped. This could sink the FTT/USDT pair to the 20-day EMA ($45).

If the price rebounds off this level, the buyers will again try to clear the overhead resistance zone between $49 to $52 and resume the up-move.

Conversely, if the price slips below the moving averages, it will suggest that bears are attempting a strong comeback. A break and close below the uptrend line of the triangle will invalidate the bullish pattern. The pair may then decline to $39.

FTT/USDT 4-hour chart. Source: TradingView

The rally above $51 pushed the RSI deep into the overbought territory. Usually, such moves are followed by a sharp correction or consolidation. If bears pull the price below $49, the pair could decline further to the 50-SMA.

If the price rebounds off this level, the buyers will again try to push the pair above $52 and resume the up-move. On the other hand, if bears pull the price below the 50-SMA, the selling could intensify and the pair may drop to $45.

Chainlink

BTC/USDT

XRP/USDT

LINK/USDT

BCH/USDT

FIL/USDT

BTC/USDT

ADA/USDT

AXS/USDT

LINK/USDT

FTT/USDT

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