Popular crypto analyst Jason Pizzino is detailing which altcoins he believes are primed to surge over the next few months. First on Pizzino’s list is Curve Dao Token (CRV), the governance token for Curve Finance, a decentralized exchange for stablecoins. Pizzino tells his 244,000 YouTube subscribers that CRV’s Bitcoin chart looks bullish. “Will it pump […]
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Popular crypto strategist and trader Michaël van de Poppe is mapping out the potential path ahead for Shiba Inu (SHIB), THORChain (RUNE) and three other altcoins. The crypto analyst tells his 475,800 Twitter followers that he’s looking at two possible trade scenarios for Shiba Inu where the meme coin could bounce. “This one is in […]
The post Here’s What’s Next for Shiba Inu, THORChain and Three Additional Altcoins: Crypto Analyst Michaël van de Poppe appeared first on The Daily Hodl.
The pseudonymous host of crypto outlet Coin Bureau is sharing his price analysis on the altcoin RUNE, the native token of decentralized exchange protocol THORchain. In a new video, the analyst known as Guy tells his 1.51 million YouTube subscribers that “the sky’s the limit” for RUNE as the crypto bull run plays out. “As […]
The post Altcoin Project THORchain Poised for Massive Rally, Predicts Coin Bureau – Here’s the New Price Target appeared first on The Daily Hodl.
Crypto trader Aaron Arnold is naming his top altcoin picks for the month of November. In a new YouTube video, the Altcoin Daily host says he anticipates Polygon (MATIC) to surge as companies like Twitter work on projects that require Ethereum layer-2 scaling solutions. “Polygon is breaking out, targeting new record highs. MATIC looks ready to […]
The post These Five Altcoins Are Ready for Explosive Moves in November, Says Crypto Trader Aaron Arnold appeared first on The Daily Hodl.
Crypto strategist and trader Michaël van de Poppe has high hopes for a handful of altcoins amid Bitcoin’s (BTC) recent rally to new all-time highs. In a new strategy session, the prominent trader begins by outlining his latest analysis on the native asset of the decentralized price feed service Chainlink (LINK). “At this stage I […]
The post Here’s What’s Next for Chainlink, Curve, Skale, The Graph, THORchain and VeChain, According to Analyst Michaël van de Poppe appeared first on The Daily Hodl.
THORSwap users can now transact across Bitcoin, Litecoin, Binance Smart Chain and Bitcoin Cash networks.
Cross-chain decentralized exchange (DEX) THORSwap appears to be on the path to recovery after the THORChain network was taken offline following major exploits just three months after entering its guarded launch.
The Cosmos-powered network aims to support decentralized trades executed across different blockchain networks such as Bitcoin (BTC) and Ethereum (ETH). According to an Oct. 12 progress report, the team behind the project’s decentralized exchange THORSwap has so far restored functionality for four of the five networks it supported prior to going down in July.
The update states that THORSwap has resumed swap functionality across the Bitcoin, Bitcoin Cash (BCH), Litecoin (LTC), and Binance Smart Chain networks, adding that the team is currently in the process of reinstating support for Ethereum.
15 summaries about @THORChain
— THORSwap ⚡ ᚱ (@THORSwap) October 12, 2021
1. $BTC, $ETH, $BNB, $LTC, $BCH - 5 economic significant blockchains are integrated.
2. Got exploited but hardened and became stronger than ever.
3. Recovered 4 chains and is in the process of recovering the last chain - Ethereum.
1/7
THORSwap added it is working to integrate support for the Terra stablecoin network and the Cosmos’ decentralized finance hub, Gaia. Further integrations with other crypto assets, including Dogecoin (DOGE), Decred, Haven and Monero (XMR), are also under development.
The team is also working to improve the performance of network nodes.
THORSwap’s highly guarded “chaosnet” was partially launched in April, following the launch of THORChain’s initial systems in July 2020.
Despite apparent early success, the THORChain network would suffer three hacks during June and July, forcing it to take some services offline.
Related: Possible ‘white hat hacker’ exploits THORChain for $8M, proposes 10% bounty
THORChain was initially exploited in June. However, the team downplayed the incident at the time, stating that the first exploit attempt was limited to $140,000, "which is a small amount compared to other exploits."
The network was exploited again for a much larger $7.6 million in Ethereum on July 16 after a hacker discovered a vulnerability resulting in the suspension of operations. THORChain was attacked for a third time on July 23 when a hacker exploited the network’s Ethereum router to steal $8 million worth of ETH.
"It's been a tough time for THORChain during the last few months, but fundamentals never changed," said the THORSwap team.
SUSHI price reached its best level in four months while its top rivals Uniswap, THORChain, and PancakeSwap also saw gains.
SushiSwap (SUSHI) prices crept higher on Sept. 16 following another day of gains for decentralized exchange (DEX) tokens.
The SUSHI/USD exchange rate rose by 7.54%, or $1.14, to reach $16.31 for the first time since May 21. The pair's upside move pushed its 24-hour adjusted timeframe profits up to 23%, making SUSHI the best-performing DEX token in the given period.
For instance, UNI, the token representing the leading DEX Uniswap by market cap, jumped 6.23% against the U.S. dollar in the previous 24 hours. Meanwhile, PancakeSwap (CAKE) rose 2.5%, THORChain (RUNE) climbed circa 13%, and Curve (CRV) inched higher by over 4.5%.
Decentralized finance sector analyst Kris Kay noted that SushiSwap, as a DEX platform, has lately branched out to more blockchains than its peers. As a result, it has been generating more fees for its users, thus raising the prospect of holding SUSHI tokens.
Specifically, the latest bout of buying in SUSHI markets came a day after SushiSwap announced its deployment on Arbitrum, a layer-2 scaling solution for Ethereum-powered decentralized applications or DApps.
With super fast transaction speeds, you never have to sit and wait for tx confirmation again at https://t.co/aoFOsbikeu.
— SushiChef (@SushiSwap) September 15, 2021
Just try switching your network to Arbitrum today!
️️️️️️️
$30M TVL and counting... pic.twitter.com/qgmybXWhjt
It also revealed that stakers had locked $30 million worth of SUSHI tokens into Arbitrum's smart contracts.
Kay noted that SushiSwap's efforts to scale its DEX solutions across multiple layer-1 and layer-2 chains also cater to its ecosystem's growth. For instance, the platform has launched many new services in recent months, including DeFi liquidity provider Onsen and lending/borrowing dapp Kashi.
On Sept. 2, SushiSwap also unveiled its upcoming non-fungible token (NFT) marketplace, dubbed Shoyu. The sales volumes for blockchain-verified unique digital collectibles grew from $13.7 million in the first half of 2020 to $2.5 billion in the first half of 2021.
As a result, SUSHI has beaten its DEX rivals in terms of interim returns. Its profits in the previous seven days sit over 45% compared to UNI's 16.93%. Nonetheless, SUSHI lags in year-to-date (YTD) gains, jumping more than 370% compared to UNI's 474% gains.
Meanwhile, PancakeSwap's CAKE has led the top DEX pack after delivering more than 3,330% YTD returns.
"SushiSwap is currently the 5th highest earning protocol," Kay tweeted, hinting that the DEX has a likelihood of growing higher in the coming sessions.
"SushiSwap started out as a decentralized exchange, but it’s evolving to so much more," he said.
"A suite of DeFi products, all generating revenue for the community treasury, and of course SUSHI holders."
4/
— Kris Kay | DeFi Donut (@thekriskay) September 14, 2021
Sushi Swap is currently the 5th highest earning protocol
While majority of fee-revenue goes to Sushi treasury, $SUSHI holders still control this. $SUSHI stakers also receive 0.05% of all fee-revenue. pic.twitter.com/cu4GMiVGU2
Related: Altcoin Roundup: Time to rotate! Data suggests traders are shifting from NFTs to DeFi
On the technical charting front, SUSHI has fallen behind in the recent altcoin market boom. But the SushiSwap token's climb in the recent sessions has had it break above $15, a key psychological resistance level, now acting as support.
Scott Melker, an independent market analyst, noted that there are thin resistance lines ahead, meaning that SUSHI could head higher to form a new all-time high. The previous SUSHI/USD peak sits at $24.69. Melker added:
"Those lines at the top are the target, although we know that if they flip to support, we will have price discovery for new highs."
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.
THORChain and Kyber provide the perfect examples of how quant analysis and breaking news can help cryptocurrency investors to capitalize on volatile markets.
Disparities in information access and data analytics tech are what give institutional players an edge over regular retail investors in the digital asset space.
The core idea behind Markets Pro, Cointelegraph’s crypto intelligence platform powered by data analytics firm The TIE, is to equalize the information asymmetries that permeate cryptocurrency markets.
Markets Pro bridges the gap with two world-class functionalities: the quant-style VORTECS™ score, and breaking NewsQuake™ alerts.
The former is an algorithmic comparison of several key market metrics around each coin to years of historical data, which assesses whether at any moment the outlook for this asset is bullish, bearish, or neutral given the historical record of price action.
NewsQuakes™ are automated notifications driven by an AI routine that monitors thousands of information sources to deliver potentially market-moving news to members, often within seconds.
Neither of these is a predictive tool. What both the VORTECS™ score and NewsQuakes™ are designed to do is to notify traders that something has just happened that, in the past, reliably moved asset prices. That’s why a good Markets Pro chart is the one that shows events happening in the right order and in the right time: First comes the indicator, and then price action follows.
In the last couple of days, we have observed a number of exemplary scenarios illustrating classic Markets Pro reads on the market.
June 13 did not start off as a particularly great day for those who were invested in THORChain (RUNE) and looking to make some gains. The coin has been on its way down, falling from above $9.00 a couple of days ago to just above $7.00.
However, the coin’s VORTECS™ score has been steady in the green (bullish) zone, sometimes even venturing into dark green (confidently bullish).
While most traders only saw what was on the surface — a coin’s weak performance — Markets Pro members have had access to a wider view. Even if the price trend did not look promising at all, the market conditions remained historically favorable for RUNE, suggesting a dip potentially worth buying.
Shortly before noon, RUNE’s VORTECS™ line tipped over 80, foreshadowing a rally that began to unfold six hours later. When the price went up, it went up sharply: from $7.00 to the peak of $10.34 twenty-six hours later.
It might also seem from the chart that fuel for the rally came from a NewsQuake™ detected a couple of hours before the pump. While the announcement of a RUNE giveaway by an investment company Qi Capital has definitely added to the momentum, it is unlikely that it had actually triggered the massive pump: As a sequence of strong VORTECS™ scores pointed out, RUNE’s breakout was propped up by an overall healthy outlook in the first place.
Big announcements that promise more liquidity for the DeFi sector are usually a boon for the coins involved. When Kyber protocol’s team announced the deployment of their first liquidity mining program on Polygon and Ethereum, worth $30M in rewards, the market rewarded the KNC token with a pump from $1.78 to $2.06 (a 16% increase) within 8 hours.
However, the effect of the news began to recede almost as quickly as it kicked in, so only those quick to react were allowed to feast at the profit table. A safe way to secure a spot was through receiving a NewsQuake™ (red circle in the graph) notifying users of the collaboration. Alerts were sent to Markets Pro several minutes after the deal was publicly unveiled, but before the price of KNC had begun ascending.
These classic patterns are replicated day in, day out on Cointelegraph Markets Pro, where the top-performing strategy the team has been monitoring since Jan 3 2021 (Buy at 80, Sell after 24 hours) has now delivered a staggering 3,694% return in live-testing. Full details of the methodology used are available here.
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 advisor before making financial decisions. Full terms and conditions.
The first truly native cross-chain DEX is about to go live.
ShapeShift CEO and crypto industry stalwart Erik Voorhees has suggested that the launch of ThorChain is arguably the biggest event in crypto this week.
And considering all eyes in crypto are on the direct listing of major United States exchange Coinbase on the Nasdaq on Wednesday — with a potential valuation of $140 billion according to the FTX derivatives exchange — that’s a pretty big claim.
ThorChain’s launch is scheduled for Tuesday and will mark the first time that native crypto assets can be traded on a decentralized exchange across unique blockchains without bridging technology or wrapping tokens.
In a tweet on Monday, Voorhees asserted that the launch of a native cross-chain DEX will tread new ground for crypto.
“Thorchain has no bridges. It has no wrapping. It is native assets, swapped across chains in a decentralized way, for the first time ever,” Voorhees exclaimed.
Thorchain goes live tomorrow. Native cross-chain decentralized exchange. Never been done before
— Erik Voorhees (@ErikVoorhees) April 12, 2021
Arguably the biggest event in crypto this week, though it may not be obvious for a year or two ;)
Join us on Clubhouse tomorrow to discuss!#bitcoin #ethereum #litecoin #DEX https://t.co/Y7yCNEfM51
ThorChain will host a launch party on social platform Clubhouse on Tuesday at 18:00 EST. The event will be attended by some of the biggest names in crypto, including Voorhees and several ShapeShift executives, Multicoin Capital managing partner Tushar Jain, Delphi Digital co-founder Yan Liberman and several others.
The DEX will initially host pairings for Bitcoin (BTC), Ether (ETH), Litecoin (LTC), Bitcoin Cash (BCH) and Binance Coin (BNB), with plans to support other crypto assets in the future.
ThorChain operates like other automated market makers, such as Uniswap, but with the important distinction that it enables the trading and swapping of crypto assets from completely different blockchains and networks.
ThorChain is based on the Tendermint consensus protocol, which is also associated with the Cosmos ecosystem. The exchange is backed by its native token RUNE, which acts as collateral to facilitate trades.
Assets are supported by the protocol when blockchains get added to ThorChain’s cross-chain network, called “chaosnet.” Chaosnet allows assets to be swapped without relying on third-party intermediaries such as the custodians of wrapped versions of BTC, for example.
To swap BTC for ETH, for example, the exchange would trade the BTC for RUNE, which is then swapped for ETH. This is all carried out at high speed to ensure the user is not impacted by the intermediary trade.
There has been increased demand for cross-chain solutions, especially from the decentralized finance sector. On Thursday, Cointelegraph reported that cross-chain asset bridge and application hub ChainSwap had closed a $3-million strategic funding round led by Alameda Research.
ThorChain is also developing a native wallet called AsgardEx, which will be built to interact directly with the “chaosnet,” allowing the tokens of unique blockchains to be held by a single wallet.
The platform’s native token, RUNE, has been on fire recently, surging 13% over the past 24 hours to reach an all-time high of $12.65, according to CoinGecko.
