Number goes up: A third of Brits have bought crypto, says Coinbase report

May 5, 2022 Coin Telegraph

A Qualtrics report carried out by Coinbase shows that the number of Brits who have bought crypto is up 4% to 33% since October 2021.

Bitcoin (BTC) number go up technology is boosting crypto adoption in the United Kingdom. More and more Brits are buying cryptocurrency according to a Coinbase research piece carried out by Qualtrics.

The key takeaways indicate that 33% of British people own crypto, up from 29% in October 2021. Plus, over half, or 61%, of those surveyed intend to increase their holdings over the next 12 months.

The report also highlighted that Bitcoin is the king of crypto among U.K. consumers as it is the most commonly owned cryptocurrency. Ethereum (ETH) is held by 52% of those surveyed with Dogecoin (DOGE) and Binance Coin (BNB) at 34% and 33% respectively.

It’s not the retail market that’s interested in crypto: Her Majesty’s Treasury also appears to be sticking around despite sluggish Bitcoin price action. HM Treasury’s decision to create a royal NFT by the summer caught the crypto community’s attention in April, amidst discussion surrounding stablecoin regulation in the U.K.

Chancellor @RishiSunak has asked @RoyalMintUK to create an NFT to be issued by the summer.

This decision shows the the forward-looking approach we are determined to take towards cryptoassets in the UK. pic.twitter.com/cd0tiailBK
— HM Treasury (@hmtreasury) April 4, 2022

A Coinbase spokesperson told Cointelegraph that the population of 67 million Brits creates a “leading European hub of crypto investment,” highlight that there is a growing proportion of people engaging with these assets.

"Recent survey work suggests that the adoption trend may continue, with many sharing ambitions to expand the size and diversification of their portfolios."

Adding a note of caution, the spokesperson suggested that “it is clear that there is more work to be done around boosting understanding and awareness of these assets.”

An experienced Financial Conduct Authority (FCA) employee recently took up a post at the digital assets department, in order to support the government’s “vision for crypto.”

Cointelegraph has compiled an analysis of changes to the U.K.’s financial and crypto landscape in light of the recent changes to the FCA’s crypto stance.

Altcoins sell-off as Bitcoin price drops to its ‘macro level support’ at $38K

April 26, 2022 Coin Telegraph

Bitcoin Price

BTC price fell below $38,000 as tech stocks sold off and traders cautiously watched to see if Bitcoin can hold its “macro level support” zone.

The cryptocurrency market and wider global financial markets fell under pressure on April 26 after the hype surrounding Elon Musk buying Twitter began to fade, and concerns about the state of the global economy took the forefront again.

Tech-related stocks were some of the hardest-hit assets on Tuesday and this pullback was followed by sharp declines in crypto prices as risk assets become persona non grata in these turbulent markets.

Data from Cointelegraph Markets Pro and TradingView shows that after holding support at $40,500 through the early trading hours on April 26, the price of Bitcoin (BTC) dumped 6.21% in afternoon trading to hit a low of $38,009.

*BTC/USDT 1-day chart. Source: TradingView*

Today's price action looks to be a continuation of the weakness seen across financial markets this April, and month-to-date, the S&P 500 is down by 7%, while the Nasdaq declined 11% and the Dow is nursing a 3% loss.

The bearish trend in FAANG stocks has essentially been a weight that has dragged down the wider market and the recent 35% decline in the price of Netflix on April 20 highlighted a major kink in the “strong markets” narrative.

Bitcoin retests its macro range low

Tuesday’s sell-off in the price of Bitcoin has led many analysts to reiterate that we are headed for a bear market bottom, but not everyone has such a dire outlook, including crypto analyst and pseudonymous Twitter user ‘Rekt Capital’, who posted the following chart showing the price retesting a major support zone.

Rekt Capital said:

“BTC is right back at the long-standing macro Higher Low support.”

According to the analyst, BTC continues to trade within the range it has been stuck in since the beginning of the year and there is still a strong amount of support in the lower $30,000 range.

Further insight into the weakness across global markets can be found by looking at the strong performance of the DXY, which is currently at its highest price in two years according to crypto Twitter analyst ‘Miles J Creative.”

The analyst said,

“Dollar coming into the danger zone. To the moon or goblin town?”

The fate of the market will likely hinge on how the dollar performs moving forward amidst rising inflation, ongoing supply chain disruptions and global conflict in Europe.

*Daily cryptocurrency market performance. Source:* *Coin360*

The overall cryptocurrency market cap now stands at $1.605 trillion and Bitcoin’s dominance rate is 45.5%.

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

Here is how studying tokens’ price history helps patient traders enjoy consistent average gains.

March 27, 2022 Coin Telegraph

Altcoin Watch

To those who prefer consistency to lucky guesses, this algorithmic indicator has a lot to offer.

Whether you consider cryptocurrency trading as art, science or a game of skill, one thing is beyond dispute: Those who excel at it are not the traders who maintain the longest series of lucky one-offs but those who establish sustainable trading processes yielding consistent returns.

Ask a sample of seasoned pros if they would prefer to catch one obscure token’s 300%-in-a-day brush with fame or learn a strategy that systematically generates a 3% return on investment. You will be surprised how many of them (likely close to 100% of the sample) prefer modest yet systematic profits.

How does one make their trading processes more systematic? One way is to rely on automated data analytics tools with a proven track record of consistent performance. One such tool is the VORTECS™ Score, an artificial intelligence (AI)-powered algorithm exclusively available to the subscribers of Cointelegraph Markets Pro. Its job is to compare the current combination of trading and social metrics around each crypto asset to past ones, giving traders a heads-up when historical conditions begin to look ripe for a rally.

Here are some numbers from an average week in the March sideways market. To understand what they mean, you only need to wrap your head around two simple notions. First, the higher the token’s VORTECS™ Score, the more favorable its outlook is, historically speaking. Scores of 80 and above are conventionally considered to be strongly bullish. Meanwhile, Scores above 90 indicate the algorithm’s extreme confidence that, in the past, similar patterns consistently showed up ahead of massive rallies.

Second, the algorithm is designed to detect patterns of trading activity and social sentiment that in the past preceded big upsides by 12 to 72 hours. On average, assets tend to perform better after longer times from hitting high Scores.

The data from this week largely supports this observation. As the table shows, forty coins that hit the VORTECS™ Score of 80 added an average of 2.53% of value 48 hours after reaching the threshold and 3.67% after 72 hours. The average gains generated by the assets that hit the Score of 90 are less reliable because they are based on only three observations: nineties occur way less frequently than eighties. Nevertheless, in most weeks, nineties outperform eighties, as was the case this week.

GET MARKETS PRO RIGHT NOW

This week’s average returns are representative of the broader picture of how the VORTECS™ algorithm performs. Over one year between January 2021-2022, crypto assets that reached the Score of 80 delivered an average gain of 2.45% after 72 hours. The 90-hitters yielded 4.46% after 72 hours.

While these numbers may look modest, more than a year’s worth of observations speak to their consistency. This makes the VORTECS™ Score a sound addition to the arsenal of those who wish to make their trading strategies more systematic.

Cointelegraph is a publisher of financial information, not an investment adviser. We do not provide personalized or individualized investment advice. Cryptocurrencies are volatile investments and carry significant risk including the risk of permanent and total loss. Past performance is not indicative of future results. Figures and charts are correct at the time of writing or as otherwise specified. Live-tested strategies are not recommendations. Consult your financial adviser before making financial decisions.

3 times in March that savvy crypto traders bought breaking news for the price of a rumor

March 19, 2022 Coin Telegraph

Altcoin Watch

In the crypto market, getting the scoop early often means booking front seats for a massive rally.

As an old saying goes: Buy the rumor, sell the news.

As a digital-native asset class, the prices of cryptocurrencies are clearly susceptible to market-moving news developments that instantly spread on the internet. Staying on top of bullish announcements can help crypto traders reap huge gains, but navigating the crypto news landscape can be daunting.

Two major roadblocks get in the way: the abundance of potentially relevant information and the difficulty of making sure one is always among the first to learn the news that really matters. Extensive research shows that three types of crypto-related developments move digital asset prices most consistently: listings, staking announcements and big partnerships. This insight somewhat narrows down the scope of the developments that will most interest traders.

Now, what is the best way for crypto folks to ensure that they get to the potentially consequential stories before the rest of the pack? There is no shortage of technological solutions, from carefully curating one’s list of Twitter alerts to various crypto data terminals.

The subscribers of Cointelegraph’s proprietary data intelligence platform, Markets Pro, have it easy. They get access to NewsQuakes™ — a machine learning service that constantly monitors thousands of primary sources and automatically notifies the Cointelegraph Markets Pro community within minutes or even seconds of publication.

Here are three examples of how Cointelegraph Markets Pro subscribers could have capitalized on the power of NewsQuakes™ in March.

ANC: Staking program announcement kicks off a rally

*ANC price (white), March 2–8. Source:* *Cointelegraph Markets Pro*

Staking announcements can be powerful market movers, especially when a staking program for an asset launches on a major platform and comes with attractive terms. Anchor Protocol’s launch on Binance Staking with up to 40% annual percentage yield on ANC fit the bill perfectly.

The announcement, delivered to Cointelegraph Markets Pro subscribers as a near-instant NewsQuake™, was sourced from Binance’s Twitter account. The token was trading at $3.79 when the news hit, picking up steam quickly thereafter. Eighteen hours later, ANC’s price reached $4.90 and then pushed even higher to breach the $6.00 mark by March 5.

SNX: A double-barreled listing announcement

SNX price (white), March 5 – 12. Source: Cointelegraph Markets Pro

Another fateful tweet put huge upside pressure on the price of Synthetix Network Token (SNX). The news concerned SNX’s listing on Binance.US. Interestingly, there were two Twitter announcements of the upcoming listing, but apparently, the first one (the first NewsQuake™ symbol in the chart on March 8) did not produce much of a splash. However, the news of the actual launch of SNX trading (the red circle in the chart) made SNX’s price spike from $3.98 to $4.77 within 23 hours — an increase of 19.8%.

SAND: A big partnership spells big gains

*SAND price (white), March 11 – 18. Source:* *Cointelegraph Markets Pro*

Partnership announcements tend to show up a bit less frequently among the most consequential NewsQuakes™ when compared with listing and staking news. Sometimes, however, there are partnership deals whose price-boosting effects eclipse those of most other NewsQuakes™. A rule of thumb is that if you have heard of a non-crypto entity that is partnering with a crypto project, the associated token’s price is likely to go up.

Banking giant HSBC is certainly an institution familiar to most traders. Its move into the Metaverse, facilitated by The Sandbox, was something that stood to trigger a massive upside for the SAND token. Sure enough, SAND’s price shot up almost vertically minutes after the Cointelegraph Markets Pro crowd was alerted to the news, spiking from $2.85 to $3.28 (a 15% increase) in just 18 hours.

XHV, RUNE, REQ: Here’s how you can be tipped off to the week’s winners before they post strong gains

March 17, 2022 Coin Telegraph

Altcoin Watch

Combining data-driven insight with solid contextual knowledge can spell massive gains for smart traders.

The mixed crypto market that took hold starting late last year does not offer as many profit opportunities as the blooming altcoin season that came before it. There are way fewer winners than in bull times, and the thorough research needed to single them out can become a full-time job. Luckily, there are ways to outsource some of this effort.

The history of digital assets’ price action doesn’t hold keys to their future, but it can offer numerous valuable cues. Complex patterns of trading and social sentiment metrics that power a token’s dramatic price pumps often recur, and savvy traders can use them to anticipate price moves.

One of the tools that can read the history of assets and turn it into actionable insight is the VORTECS™ Score. Exclusively available to the subscribers of Cointelegraph Markets Pro, this machine learning tool shows whether the present combination of market and social metrics for each tracked coin is historically bullish, bearish or neutral.

The higher the Score, the more bullish the token’s outlook for the next 12 to 72 hours. Scores of 80 and above are considered confidently bullish, meaning that the current trading conditions look very similar to those that showed up ahead of huge price spikes in the past.

Here is how it worked out with some of this past week’s top-performing digital assets.

XHV: The offshore bank of crypto goes to the moon

*VORTECS™ Score (green/gray) vs. XHV price (white), March 8 – 15. Source:* *Cointelegraph Markets Pro*

Haven Protocol, a Monero fork that markets itself as an “offshore bank” without a bank, saw its Haven (XHV) cryptocurrency experience a major price pump on the news of Western sanctions against Russia and the general narrative of financial privacy gaining momentum. Haven is a privacy-focused “ecosystem of untraceable assets” that allows for the anonymous exchange of assets.

The patterns of trading and social activity shaping up around the token began to look historically bullish on March 10 as XHV’s VORTECS™ Score peaked at 88 against a price of $2.37. Nineteen hours later, the asset’s price pumped, reaching $3.73 in just 11 hours.

RUNE: Robust fundamentals produce a bullish pattern

*VORTECS™ Score (green/gray) vs. RUNE price (white), March 8 – 15. Source:* *Cointelegraph Markets Pro*

THORChain’s RUNE sported strong fundamentals rolling into the week. The token’s first upside came on March 10 in response to the network activating synthetic assets, with RUNE marching all the way up to a local high at $5.52. Shortly thereafter, its VORTECS™ Score hit 84, suggesting that the best was yet to come, according to historical precedent.

Sure enough, the recurring pattern didn’t lie: The rally continued to unfold further, boosted by the news that THORChain would launch its new Thorfinance protocol in addition to a native stablecoin. RUNE’s price embarked on a steep upward trajectory some 40 hours after the VORTECS™ peak was registered, with its price leaping from $5.64 to $7.94 over the rest of the week.

REQ: Strong trading conditions foreshadow a flash rally

*VORTECS™ Score (green/gray) vs. REQ price (white), March 8 – 15. Source:* *Cointelegraph Markets Pro*

REQ is the native token of Request Network, a decentralized payment system built on Ethereum. The asset’s price spiked on March 13 and 14 in a two-legged rally following the addition of support for Jarvis Network’s euro-pegged stablecoin, jEUR. The favorable news environment contributed to a bullish arrangement of trading metrics and social sentiment indicators, captured by a peak VORTECS™ Score of 82 lighting up on March 14. Eleven hours later, the favorable outlook materialized in a pump from $0.20 to $0.25 in under four hours.

No algorithmic trading indicator can present a comprehensive picture of what is going on with a token and where its price is poised to move next. However, combining the insight from a data-powered tool like the VORTECS™ Score with analysis of fundamentals and the news environment can help traders identify big winners hours before their powerful upsides kick in.

Here’s how traders were alerted to RUNE’s, FUN’s, WAVES’ and KNC’s big rallies last week

March 11, 2022 Coin Telegraph

Altcoin Watch

Trading volume pumps can act as early signs of dramatic price action, and there are ways to spot them early.

A digital asset’s price rally rarely comes out of the blue. Before the token’s market value explodes, some collateral forces come into motion. The asset can suddenly attract abnormally high online attention, its trading volume can go up dramatically, or some market-moving information can go public that triggers the first two examples. Mastering the art of crypto trading means learning to see those subtle cues early on.

Spiking trading volume is one of the signs that something interesting might be brewing around a crypto asset. Often, trading volume simply follows a price trend, with the coin entering a virtuous circle where its rallying price attracts more traders, boosting the volume accordingly. In other cases, abnormally high volume points to robust liquidity and rising investor interest, which can underpin further waves of appreciation.

One of the ways to get alerted to potentially informative trading volume pumps is the Unusual Trading Volume bar on the dashboard of Cointelegraph Markets Pro, Cointelegraph’s subscription-based data intelligence platform.

Last week, four out of the 10 tokens that showed the greatest increase in week-to-week trading volume flashed weekly volume highs before their prices peaked. Here’s how traders could have profitably put this information to work.

RUNE: Big news boosts both trading volume and price

*RUNE price (blue) vs. trading volume (purple), Feb. 25 – March 4. Source: TradingView/The TIE*

THORChain’s RUNE had a big week, with a Terra integration and upcoming mainnet launch exerting huge upside pressure on the token’s price. The breakthrough moment came on March 1 when RUNE took off from around $3.70 and breached $5.80 in less than a day. Trading volume spiked alongside the price, with the highest volume of the week coming after the first price peak. Traders who took heed of the volume dynamics were in for a continued rally, as the token’s price remained up, breaching the $6 mark on March 4.

FUN: Two trading volume pumps amid a rolling rally

*FUN price (blue) vs. trading volume (purple), Feb. 25 – March 4. Source: TradingView/The TIE*

The price of Funfair’s FUNToken (FUN) steadily went up throughout the entire week, with two trading volume spikes reassuring traders that strong fundamentals fueled the token’s appreciation. The first came on Feb. 28 and preceded a local price peak at $0.0103 registered on March 1. Two days later, an even larger trading volume wave hit, foreshadowing the week’s price high of $0.0105.

WAVES: Volume spikes following price pump, anticipates even bigger one

*WAVES price (blue) vs. trading volume (purple), Feb. 25 – March 4. Source: TradingView/The TIE*

WAVES added upward of 80% to its value over last week, thanks to the Waves platform’s ongoing transition to version 2.0, a bullish partnership with Allbridge that will ensure cross-chain interoperability, and the news of the launch of Waves Labs, a $150 million fund that will support the project’s growth in the United States market. On March 1, the token’s price soared from around $13 to over $19 in less than a day, triggering a corresponding pump in trading volume. Even as the wave of liquidity subsided, the price action remained robust, with the token’s valuation going further up to its weekly high at $20.86.

KNC: Strong price momentum following trading volume spike

*KNC price (blue) vs. trading volume (purple), Feb. 25 – March 4. Source: TradingView/The TIE*

Kyber Network Crystal (KNC), the utility and governance token of Kyber Network, massively rallied on Feb. 28, dragging the token’s trading volume with it. The volume peaked against a price of $2.51, but the feast carried on as the price continued to soar all the way up to $2.91.

*Cointelegraph Markets Pro’s Unusual Trading Volume panel, March 10. Source:* *Cointelegraph Markets Pro*

In addition to the raw data on trading volume outliers available on the Cointelegraph Markets Pro dashboard, the trading volume metric is one of the core components of the VORTECS™ Score. An algorithmic tool for comparing historical and present market conditions around digital assets, the VORTECS™ Score can be used to identify historically bullish or bearish setups around each digital asset it tracks, alerting traders to the coins with the most favorable outlooks.

Bitcoin price spike to $39K leads traders to say ‘the panic is over for a few days’

February 25, 2022 Coin Telegraph

Bitcoin price spike to K leads traders to say ‘the panic is over for a few days’

Assets

BTC and stock markets recovered some of their recent losses, leading traders to suggest that the panic selling could be “over for a few days.”

Global financial markets and crypto markets were pummeled over the past 24-hours as the invasion of Ukraine by Russian forces sent investors scrambling and sell-offs took place across most asset classes.

Data from Cointelegraph Markets Pro and TradingView shows that the price of Bitcoin (BTC) hit a low of $34,333 in the early trading hours on Feb. 24, shortly after the Ukraine incursion began, and has since climbed its way back to $38,500 after an unexpected short-squeeze may have rapped bearish investors on the knuckles.

Here’s a look at what several analysts are saying about BTC price and how the ongoing conflict could impact crypto markets in the short-term.

BTC in a “great buy area”

Bitcoin's collapse on the night of Feb. 23 was not unexpected by most traders and according to crypto trader Pentoshi, BTC price could recover the $40,000 mark in the short term.

Despite this positive outlook, Pentoshi expressed wariness “of the overall macro environment,” which “looks pretty dire.”

In a follow-up tweet on Feb. 24, Pentoshi held firm with the projection that BTC will eventually trade higher from here.

Pentoshi said,

“BTC now in the blue value zone. Not exactly the path I'd hoped to take to get here. I think in time this will have been a great buy area.”

A milder correction than was seen in May 2021

A more in-depth assessment of the current situation was offered by David Lifchitz, managing director and chief investment officer at ExoAlpha, who noted that “Bitcoin and other cryptos have been moving up and down in tandem with the Russia/Ukraine news,” so the plunge in cryptos and other assets was expected following “the first, even if surgical, strikes in Ukraine.”

One positive for the crypto market was that there was less leverage at play than during the drawdown in May 2021, which resulted in “less liquidation of over-levered players and hence a milder correction vs. what was seen in May.”

Lifchitz pointed to the fact that Bitcoin's recent low at $34,300 “was near the low of the range it has been stuck in for weeks now,” and suggested that “the direction of Bitcoin and other cryptos will be driven by what happens in the next couple of days with the Ukraine-Russia situation.”

Aside from the short-term impact of this conflict, Lifchitz stated that “the elephant in the room is the Central Banks rate hikes that won’t be as tough as they should be to tame inflation, but will be enough to put more pressure on the economy and the stock market.”

Lifchitz said,

“A hard landing of the last 12 years of Central Banks lax monetary policy is in progress, and the Ukraine-Russia may just have been the pin the "everything bubble" was looking for…”

The initial panic is over

A final bit of insight into how the market will trade in the days and weeks ahead was provided by analyst and independent market analyst Michaël van de Poppe, who posted the following tweet suggesting that the worst of the near-term weakness may be over for now.

Honest view; panic is over for a few days/maybe weeks.

Markets reacting in a sense that #Gold is going to correct, risk-on assets like equities and #Bitcoin are going up.

Potentially runs of 20-45% on #altcoins to happen.
— Michaël van de Poppe (@CryptoMichNL) February 24, 2022

Analysis of what comes next for BTC if the panic continues was also provided by crypto trader and pseudonymous Twitter user AngeloDOGE, who posted the following tweet pointing to support at $25,000 in the event that bears break through the $33,000 level.

Low chance #Bitcoin holds $33k on a second visit.

Sometimes things need to get worse before they can get better.

Upon support failure, $25k $BTC comes next.

Hope for the best, prepare for the worst, and stay off the leverage.
— AngeloƉOGE (@AngeloBTC) February 24, 2022

The overall cryptocurrency market cap now stands at $1.649 trillion and Bitcoin’s dominance rate is 41.9%.

Even in a choppy crypto market, this algorithmic indicator helped traders identify the few winners

February 23, 2022 Coin Telegraph

Altcoin Watch

Data-driven insights into digital assets’ trading conditions remain relevant regardless of whether the market is going up or down.

Just as it started to look like the crypto market was staging a comeback and bracing for a new bull run, geopolitical tensions stepped in to drive the price of Bitcoin (BTC) below $40,000 again, with most altcoins seeing deep red as well. Such periods of market uncertainty, however, are not unprecedented, and digital assets’ individual history already holds information on the way their prices previously behaved under similar macro conditions.

Last week was not rich with impressive altcoin rallies, as the crypto market seesawed along with the twists and turns of the news cycle. Still, several assets that recorded solid price performances did so after showing off strong historical trading conditions. Here is how crypto traders could have detected these favorable outlooks and put them to use.

Detecting history’s rhymes

The VORTECS™ Score is an automated data intelligence tool, exclusively available to the subscribers of Cointelegraph Markets Pro, designed to spot assets’ individual conditions that in the past consistently appeared before big rallies. It looks at a menu of inputs — trading volume, price movement, tweet sentiment and others — and constantly compares their current combination to the asset’s historical performance data.

The more the algorithm is confident that the outlook is historically bullish, the higher the token’s VORTECS™ Score at any given moment. Scores of 80 and above appear when the model has strong confidence that the arrangement of data points looks very similar to those in the past that came in 12 to 72 hours before price spikes.

Of course, individual data patterns are to some extent correlated to the price of Bitcoin and the trends in the broader market; the rest of the variance, however, is unique to each token, providing useful information on the way a particular asset tends to behave under similar marketwide conditions.

Here’s how it played out last week with Telos’s TLOS, Unifi Protocol’s UNFI and Avalanche’s AVAX.

TLOS: Anticipating a second leg up

*VORTECS™ Score (green/gray) vs. TLOS price, Feb. 12 – 19. Source:* *Cointelegraph Markets Pro*

Telos’ TLOS coin has had a tremendous stretch so far this month. Last week, it offered an illustration of a classic “second leg up” scenario wherein a bullish VORTECS™ Score lights up on an asset that has just seen a strong rally. Indication of a bullish outlook usually comes during a subsequent correction or a period of sideways price movement.

On Feb. 15, the token appreciated from $0.92 to $1.06 in 16 hours, after which its price hung in the balance. At this point, TLOS’ historical trading outlook began to look increasingly favorable. A VORTECS™ Score of 81 suggested that in the past, similar combinations of price movement and other trading and social conditions were often followed by further upside. This time, it happened again: After a five-hour pause, TLOS resumed its rally, rising all the way to $1.21.

UNFI: Robust outlook foreshadowing a long rally

*VORTECS™ Score (green/gray) vs. UNFI price, Feb. 12 – 19. Source:* *Cointelegraph Markets Pro*

Unifi Protocol and its UNFI token entered the spotlight at the end of January when it was picked up by Coinbase despite its relatively low market capitalization. The token saw a three-day-long rally in the middle of last week, although by Friday, a marketwide correction wiped out much of UNFI’s gains. Some 18 hours before the price hike began on Feb. 14, traders were alerted to a favorable trading outlook shaping up around the token as its VORTECS™ Score hit 82 (red circle in the chart). The asset’s price briefly dipped thereafter, yet it wasn’t too long before it embarked on an upward trajectory that took it from $4.89 on Feb. 14 to $5.67 by Feb. 17.

AVAX: Heads-up to an incoming price peak

*VORTECS™ Score (green/gray) vs. AVAX price, Feb. 12 – 19. Source:* *Cointelegraph Markets Pro*

Avalanche’s native AVAX coin first showed moderately bullish trading conditions on Feb. 13, although its VORTECS™ Score fell short of breaking the conventional cutoff threshold of 80, only reaching 76 that day. Still, the asset soon broke out as its price shot up from $76 to $89 in less than 40 hours. As AVAX continued to rally, its historic outlook became highly favorable again, with the peak Score of 82 lighting up against a price of $92.15. This suggested that there still was more to the ongoing rally. Sure enough, AVAX’s price continued to soar and reached its weekly peak of $98.44 in 22 hours.

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More than a year’s worth of data suggests that focusing on tokens that hit the VORTECS™ Score of 80 and beyond is an efficient strategy for identifying a range of assets with a solid chance of performing well within the next few days. This automated historical analysis yields the greatest results when combined with other analytical tools and strategies, such as various forms of technical analysis. While it is not a guarantee of future price movement, the VORTECS™ Score has proved to be a useful tool for asset discovery and detecting the early signs of impending rallies.

Analyst say Ethereum price could fall to $1,700 if the current climate prevails

February 18, 2022 Coin Telegraph

Analyst say Ethereum price could fall to ,700 if the current climate prevails

Bitcoin Price

Traders warn that ETH price could fall to $1,700, triggering a “turbo nuke” in altcoins and altering the market structure of a struggling bull market.

Bitcoin (BTC) and Ether (ETH) price are still being hard hit by the current wave of volatility and this is leading traders to go back to the drawing board and readjust their short-term expectations. On Feb.17, Bitcoin price briefly dipped below $40,000 and Ether failed to hold support at $2,900, raises the chance of a drop to $2,500.

Data from Cointelegraph Markets Pro and TradingView shows that after hovering near the $2,900 support level through the morning trading hours, Ether was hit with a wave of selling that dropped it to an intraday low of $2,752.

*ETH/USDT 1-day chart. Source: TradingView*

Here’s a look at what analysts are saying about the price drop for Ether and whether or not more downside is expected as global tensions continue to rise.

Ethereum's next stop could be $1,700

A general overview of the current outlook for Ether was provided by crypto trader and pseudonymous Twitter user ‘Crypto Tony’, who posted the following chart discussing the areas of support and resistance to keep an eye on.

Crypto Tony said,

“$3,900 remains the most pivotal area for me and if we flip that, well I believe the low is in... Reject from it or fail to even reach it and we head to my main target of $1,700.”

Price is at a "super trend" resistance level

A more bullish take on Friday’s price action was offered by market analyst and pseudonymous Twitter user ‘IncomeSharks’, who posted the following chart indicating that Ether is now at a significant resistance zone.

According to the analyst,

“Ether right at the supertrend resistance. Since it's flat it usually has a higher chance of breaking upwards and flipping bullish. If it does flip bullish I think $2,900 to $3,000 would be next.”

The macro trend projects further downside

Insight into what could happen to Ether and the wider altcoin market, should it fail to hold this current level, was offered by trader and pseudonymous Twitter user Pentoshi.

Pentoshi said,

“I will take note that there is local strength here since it held its lows but overall still lower highs. Trend is down. *IF* those lows break *THEN* *MOST* altcoins turbo nuke.”

The overall cryptocurrency market cap now stands at $1.899 trillion and Bitcoin’s dominance rate is 41.4%.

New ConsenSys Mesh NFT marketplace pays royalties to creators and collectors

February 17, 2022 Coin Telegraph

Artists

ETHDenver conference attendees will get an exclusive presentation about the TreeTrunk marketplace introducing a new token standard.

As the ETHDenver developer conference gets underway, the incubator ConsenSys Mesh told Cointelegraph that it's planning a Friday announcement regarding a new addition to its portfolio.

Joseph Lubin, Ethereum co-founder, will debut details about TreeTrunk, a nonfungible token, or NFT, platform that aims to eliminate the risk of centralized platforms failing to pay royalty payments from secondary sales correctly or on time. TreeTrunk is launching a beta release on the Polygon Mumbai testnet.

According to the company, TreeTrunk has introduced a pioneering smart contract that collects and distributes royalty payments from the secondary sales of NFTs immediately and securely on the blockchain. Current NFT standards may not enforce instant collection or distribution of royalties on a chain to the creator, and less so to both creators and distributors.

Cointelegraph spoke to John Wolpert, co-founder of TreeTrunk and head of R&D at ConsenSys Mesh, to learn more about this new contribution to the Ethereum ecosystem.

"Supplying an important new ERC to the community as a standard and open-source reference implementation is serving the long term vision of expanding what NFTs can do on the blockchain."

Part of that vision to onboarding newcomers into the blockchain space also includes building long-term financial empowerment for artists and creators where "perpetual distribution and royalty networks move their work and expand their paying audience," added Wolpert.

He points out that NFT artists, just like traditional artists, may need to reach a certain level of popularity to see a sustainable profit. For this reason, TreeTrunk smart contracts distribute royalty payments to collectors who make and sell authorized digital prints. This approach, according to Wolpert, offers influencers the opportunity to construct an "NFT family tree" of first- or second-generation NFT and syndicate prints holders who can buy into a "community of inclusion" that generates passive income.

Here's what we're building: TreeTrunk #NFT https://t.co/lTtJxHPiJ8.

Create and own private, exclusive original art.

Make unique signed and numbered prints.

Build a royalties empire.

Join our Discord and help us make great decisions about the product: https://t.co/npgoLbdUld pic.twitter.com/f8E8x8wrAz
— John Wolpert (@jwolpert) November 6, 2021

The technique that TreeTrunk uses to create and exchange authorized copies that can prove their relationship to an original NFT is called crypto-lithography. Similar to the lithographic printing process, zero-knowledge cryptography technology "shields the original NFT while letting people see, enjoy and sell unique, verifiable prints," said Wolpert.

On the ETHDenver stage, conference goers can expect a group of NFT artists to herald the launch of the TreeTrunk marketplace. Each of them submitted one special artwork to the platform for early collectors to begin testing before opening up to more artists.

Ira P. Rothken, attorney and TreeTrunk co-founder, also emphasized that it was important to the company to improve on the way NFTs handle legal rights and artists control their intellectual property.

"It’s no longer a game of guessing what the license agreement terms are, especially on secondary market transactions. Unlike the previous NFT standard, with TreeTrunk the license agreement is embedded in the NFT metadata itself."

ConsenSys Mesh acts as both an accelerator and incubator under the ConsenSys ecosystem that invests in Web3 projects. Its portfolio of companies includes MetaMask, Infura, Gitcoin and Decrypt.

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