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As the fear sentiment kicked in, the market saw an enormous sell-off over the past day. This decline led to an invalidation of long-term bullish outlooks of several cryptos, depicting a superior bearish influence for a while now. 

Altcoins like Chainlink and Ethereum Classic showed revival signs from their historical supports, but their trend and technical indicators were still on the bearish side.

TradingView, LINK/USDT

Chainlink invalidated its long-term bullish trend after a steep plunge poking its 19-week low on 3 December. The crypto had been slackening after hitting its six-month high on 10 November. This descent marked a down-channel while LINK bulls struggled to uphold the two-month support level at the $23.8-mark. 

Then, the bulls tried to mount a recovery by marking an 18% rally from 28 November to 1 December. But the price fell back from the upper channel and succumbed to the broader sell-off.

Although the bulls dwindled, they ensured the four-month support at the $18.6-mark. Consequently, LINK traded at $20.13 after noting a nearly 6.74% 24-hour gain.

The RSI touched its record low at the 19.07-mark on 4 December. Since then, it showed some revival but still lingered around the oversold region. Further, the EMA ribbons visibly display a bearish bias as the sellers alter the trend in their favor.

TradingView, ETC/USDT

After poking its ten-week high on 9 November, ETC correlated with the overall trend as a dynamic bearish flip occurred. The bulls lost their edge as the price declined between the down channel. Then, after a 10% up-channel breakout on 25 November, the bulls failed to sustain their edge as the price fell, marking a symmetrical triangle.

The bulls needed to sustain the 19-week support at the $44.7-mark. But they failed to uphold that level causing a further breakdown toward its seven-month low at $28.12.

However, at press time, ETC traded at $40.4 after noting a 13.3% 24 hour gain. The RSI saw a staggering plunge toward the 12-mark but showed some revival signs over the past day. Also, the DMI undeniably preferred the bears with a high directional trend. On the flip side, the AO projected a near-term bullish setback.

TradingView, AVAX/USDT

Despite a substantial breakdown on 3 December, AVAX did not bid adieu to its long-term bullish trend.

Since 12 October, AVAX visibly witnessed monstrous gains by steadily up swinging. The digital currency noted an over 180% 39-day ROI to touch its ATH on 21 November. Since then, the price fell back into the trend until an up-channel breakdown on 2 December. The alt saw a 17.6% loss over the past week and resonated with the broader market trend.

This decline swiftly pushed the price below the $87.7 mark, but it quickly recovered and found support at the golden 61.8% Fibonacci Level. The RSI chose the bears but showed slight revival signs. Considering the vast difference between the DMI lines, the market visibly signaled a bearish trend for a while.

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The global crypto market capitalisation is something that has captivated many. Additionally, what cannot go out of notice is that this magical world of cryptocurrencies has been growing beyond one’s imagination. Higher returns, exponential growth and portfolio diversification are a few of the many reasons why investors have shown an inclination towards cryptocurrency investment. On that note, if you have are looking for the top 10 cryptocurrencies to gift this December holiday season then you are in the right place. Read on to find out the best cryptocurrencies that are totally worth investing.

Bitcoin

Bitcoin has been in the market for the longest time now. With Bitcoin’s market cap and volume that’s much higher than any other investment options, investors are naturally attracted towards it. Bitcoin is widely accepted as payment as well, thereby attracting corporate investors from every corner of the world.

Ethereum

Ethereum has gained popularity by not just being the second-highest cryptocurrency by market capitalization but also as an Ethereum network that allows developers to create their own cryptocurrency. Though this cryptocurrency came years after Bitcoin, its dominance and uniqueness grabbed eyeballs.

Cardano

What can get better than investing in a cryptocurrency that is packed with advantages including less energy consumption, faster and cheaper processing? Well, these are the features exhibited by Cardano. Claiming to be more adaptable and secure, Cardano has definitely excelled at winning the trust of the investors.

Polkadot

What sets Polkadot different from the rest of the cryptocurrencies is the fact that instead of having a single “lane” to complete transactions in, it has several. The main idea of launching this cryptocurrency was to reward genuine investors and remove people who are just trading on the stock market to make money fast.

Tether

Tether is a go-to cryptocurrency for all those investors who are looking for a safe investment in the cryptocurrency market. It is considered to be the best investment option for the ones who aren’t willing to take much risk considering how volatile the cryptocurrency market is.

Binance coin

Binance coin is one of those cryptocurrencies that has shown steady growth for quite some time now. It is because of this why it is considered to be one of the more stable investment options, posing fewer risks.

Chainlink’s value has seen a significant increase in its value thereby opening doors for growth in the coming days. Also, Chainlink has served to be one of the most easily accessible cryptocurrencies. This is yet another reason as to why the investors are inclined towards the same.

Litecoin

Litecoin grabbed attention from every corner of the world by being the first cryptocurrency to complete a Lightning Network transaction that merely took a second to complete. This cryptocurrency boasts of completing the transactions faster than Bitcoin which is why this making it to the list of the top cryptocurrencies doesn’t seem to surprise anyone.

Ripple

Ripple, a company that unveiled the XRP token, came into the limelight by offering the completion of the international transaction in a matter of a few seconds. Also, how can one not talk about Ripple’s contracts with big banks around the world? This ultimately throws light on how good of an investment option it is.

Stellar

Stellar is that one cryptocurrency that has evolved to serve as a bridge between banks and blockchain networks. In addition to its ability to convert any currency and trade it across channels, it also makes these transactions cheaper and faster.

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Share This ArticleDo the sharing thingyAbout AuthorMore info about authorAshish Sukhadeve

Ashish is the Editor-in-Chief of Analytics Insight. He brings over 16 years of experience in business research and analytics across different sectors. He graduated from National Institute of Technology (NIT), Durgapur in 2001. Ashish has completed executive programs in business analytics from IIT, Hyderabad and Narsee Monjee Institute of Management Studies (NMIMS).

As 2022 approaches, a common question that has become relevant for all potential investors is that which cryptocurrency will yield the most returns. Aspiring investors look for affordable yet potential cryptocurrencies to invest in. The popularity of digital currencies is increasing with growing institutional adoption in 2021. The year 2022 will bring more opportunities that might help investors gain good returns. Owning multiple cryptos will help investors maximize their investments and will also diversify their investment portfolios. But it is also imperative for them to understand the risks involved in the crypto market and invest according to their budgets. In this article, we have listed the top 10 affordable cryptos for investors to invest in this weekend to gain maximum profits in 2022. Shiba Inu

Market Cap: US$23.801 billion

Shiba Inu was created anonymously in August 2020 under the pseudonym ‘Ryoshi.’ The crypto was relatively unknown until a cryptic tweet from Elon Musk depicting the Shiba Inu dog. Since then, the crypto has gained massive support online from crypto investors. So much so, that recently, there was an online petition on Change.org that called for Shiba Inu to be listed in the Robinhood trading exchange. 

Market cap: US$29.157 billion

Even though DOGE had a shady past, it has been on the rise lately. Dogecoin is one of the most popular meme coins in the crypto industry that was launched in 2013. Investors of this meme coin have seen massive changes in the coin lately. A few months ago, the SpaceX CEO Elon Musk shared an updated picture of his Shiba Inu puppy Floki, which has a positive impact on the coin’s market value.

TOP 10 CRYPTOCURRENCIES WITH BEST GROWTH POTENTIAL IN 2022ALL EYES ON SOLANA! WILL THE CRYPTO BREACH US$300 MARK BEFORE 2022?BITCOIN DOMINATING 41.20% OF THE CRYPTO MARKET, OTHER CRYPTOCURRENCY PRICES TODAY Cardano

Market cap: US$51.607 billion

Because of its flexible network and fast transactions, Cardano is expected to remain one of the most popular cryptocurrencies in the market. It is one of the fastest-growing proof-of-stake blockchain platforms that has been climbing up the crypto popularity ladder since its creation in 2015. Its chief selling points are its scalability, interoperability, and sustainability.

Market cap: US$74.141 billion

The Tether stablecoin is one of the top preferences for several new investors who want to steer clear of the crypto market volatility. The crypto is pegged to the US dollar, which makes it more than stable than other cryptos. It can be easily transferred between exchanges or people, instead of transferring money through banks. Tether is used to hold money on exchanges when the traders feel that the market is extremely volatile.

Market cap: US$35.774 billion

Polkadot is a next-generation platform that introduces a new era in the scalability of cryptos by connecting blockchains and enabling cross-blockchain parachains. DOT has the fast-growing user buzz that makes it one of the most anticipated projects in the industry. It is the undisputed champion in the altcoin era and has several profitable prospects for its investors. 

Market cap: US$7.538 billion

VeChain is the perfect choice for investors who are looking for affordable, yet potential cryptocurrencies. It is the currency of the VeChain Thor blockchain, which is used to transfer value across the blockchain. The VeChain Thor blockchain facilitates the management of supply chains and other business processes with the help of its technology.

Market cap: US$11.633 billion

Chainlink is a blockchain abstraction layer founded in 2017 that enables universally connected smart contracts. It can integrate third-party data into smart contracts. Additionally, through a decentralized oracle network, Chainlink allows blockchains to interact securely with external data feeds, events, and payment methods. 

Market cap: US$46.12 billion

XRP allows financial institutions to transfer money with affordable fees and minimum delay, attracting many major banks from around the world. Even though XRP has remained on the sidelines, for the most part, its price value started surging around April 2021. XRP is one of the most popular cryptos in the market and might prove profitable in the future of its investors.

Market cap: US$14.554 billion

Polygon is Ethereum-compatible blockchain interoperability and scaling platform. It is a framework for creating interlinked blockchain networks. It uses a transformative sidechain solution to overcome some of Ethereum’s major shortcomings. The Polygon project is a recent attempt at blockchain interoperability and scaling and might involve several transformations in the future.

Market cap: US$3.85 billion

EOS smart contract platform aims to execute millions of transactions per second while also eliminating transaction fees. EOS provides secure access and authentication, permissions, data hosting’s, use control, and App-to-internet connectivity.

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Affordable cryptosShare This ArticleDo the sharing thingyAbout AuthorMore info about authorSayantani SanyalMore by Sayantani SanyalRelated Top List ArticlesSimilar Posts From Top List CategoryResolving Gender Imbalance Across AI Sector in NumbersMarch 31, 2020Top MLOps Based Tools for Enabling Effective Machine Learning LifecycleDecember 17, 2020Top Cheapest Artificial Intelligence Stocks with Big Prospects in 2021September 25, 2021

At a time when Bitcoin hit the $47,000-mark due to a broader market sell-off, Bitcoin Cash and Cosmos dived below their long-term supports to poke their multi-month lows.

Moreover, SAND witnessed over 20% losses but maintained its long-term uptrend.

TradingView, BCH/USDT

BCH had an impressive run from 30 September until the altcoin touched its nine-week high on 10 November. Since then, it started marking lower lows in a descending channel. After a down-channel breakout on 22 November, BCH continually fell and formed a descending triangle (yellow) in its 4-hour chart. 

After retesting the $544-mark support for nearly two months, bears were able to invalidate the long-term bullish trend and turn the tide in their favor. They managed to poke BCH’s 11-month low on 3 December. As a result, BCH at $448.9 after noting a 20.9% 24-hour loss. 

The RSI saw a steep plunge from the equilibrium level toward the 15-mark. The bulls can bag on the possibility of a near-term push due to the oversold market condition. Further, the MACD and AO consistently lingered below the half-line for the past eight days and affirmed a bearish vigor.

TradingView, ATOM/USDT

After striking its ATH on 20 September, ATOM has performed quite poorly by consistently marking lower troughs since then. Further, the bulls attempted a rally post a down-channel breakout, but the bears historically showed resistance at the $43-mark.

As a result, the price declined and eventually formed a descending triangle (yellow). The bulls failed to uphold the nine-week resistance at the $30.5-mark post a descending triangle breakdown.

Over the past two weeks, ATOM retested the 12-week support at $25.36 thrice. Finally, after a massive sell-off, the bears invalidated the double-bottom (white) and fueled the downtrend. 

At press time, ATOM traded at $25.54 after noting a 16.8% 24-hour loss. The RSI undeniably skewed in favor of the sellers, but the bulls maintained the 37.6 near-term RSI support. Also, the DMI displayed slackening signs for the bulls. Now, ATOM would most likely consolidate between the $30.5 and the $25.3-mark for a while. 

TradingView, SAND/USDT

SAND rallied in an ascending channel post a symmetrical triangle breakout. Then, the alt saw a 315% ROI from 11 November to 25 November. As a result, the price action touched its ATH on 25 November. 

However, since then, the bears retested the $6.03-mark twice before a significant slump. This decline led to an up-channel breakdown for the first time in 19 days. At press time, the alt traded at $5.193 after noting a 20.1% 24-hour loss.

This downturn finally correlated with the market trend, unlike its previous rallies. The RSI dipped into the oversold region while showing some revival signs. Further, the DMI and AO displayed a bearish bias. But the ADX depicted a weak directional trend. 

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As the American economy grapples with labor and supply shortages, the country’s central bank declared that “the risks of higher inflation have moved up.” And once again, the question of cryptocurrencies such as Bitcoin providing investors with a hedge against rising inflation is up for debate.

Speaking at a recent Bloomberg event, Starwood Capital Group’s Chairman Barry Sternlicht espoused cryptocurrencies as a smart hedge for investors in a world that only “prints money.” He also expressed concerns similar to the US Fed about the build-up of inflationary pressure on commodities.

The investor, whose company manages assets worth over $100 billion, also revealed that about 2-3% of his net worth is invested in digital assets, which include the top cap Bitcoin and Ethereum. He added,

“If it goes to zero, it won’t hurt me.”

In a previous interview with CNBC, the billionaire had elaborated further on his decision to delve into the crypto market. He said,

“The reason I own BTC is because the US government and every government in the Western hemisphere is printing money now until the end of time. And this is a finite amount of something, and it can be traded globally and people have fiat currencies whether it’s in Nigeria or… Bolivia or wherever, you can move into something that the world has accepted as a substitute for gold.”

However, not all seem to agree with his preference for Bitcoin over the historical and everlasting gold. Speaking to Economic Times recently, Mobius Capital Partners founder Mark Mobius opined that cryptocurrencies are more of a religion than an asset, as they are valued based purely on “speculation” and “belief.” He said,

“Bitcoin or cryptocurrencies are in the class of religion, it is a belief they will go up if other people believe the way you do, but otherwise, it is not an investment. It is not something that earns money, that pays dividends, produces something.”

Gold, on the other hand, “is not only a currency but can be used for industrial purposes,” noted Mobius. Gold is considered a superior conductor to copper or other metals and is hence preferred by electronics manufacturers, but its high price is a deterrent towards its usage. He further stated,

“That is why I do not think cryptocurrencies are in the category of viable investments. It is speculation you could play with it, have fun with it but do not consider it as an investment.”

Long-time Bitcoin critic Peter Schiff also weighed in on the cryptocurrency’s capacity as an inflation hedge earlier today. He tweeted,

Akin to the stock market, the cryptocurrency market has also been trading in the red today, with all major tokens including Bitcoin losing 15-20% of their valuation over the past day.

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Bitcoin seems to be the most prominent cryptocurrency on the public’s lips, and rightly so. It remains the most significant cryptocurrency on the market.

That market, though, has been flooded with literally thousands of different digital currencies.

There is a name for these coins; they are called ‘altcoins‘ – alternatives to Bitcoin.

Since its debut in 2009, Bitcoin has remained the largest and most popular cryptocurrency in Canada and remains a public favourite. Even though Bitcoin remains the biggest in the market, more cryptocurrencies are starting to catch up and become well-used. Here are some of the most popular cryptocurrencies on the Canadian market.

1. Bitcoin (BTC)

Bitcoin started the cryptocurrency era and remains the most widely used coin. It is generally impossible for people around the world to speak about cryptocurrency without talking about Bitcoin.

Price: $54,515

Market cap: $1.3 trillion

2. Ethereum (ETH)

Ethereum is the second-most popular cryptocurrency platform you may have heard in the Canadian crypto space. It is a diverse system that allows users to perform different functions, but its popularity is attributed to its smart contracts feature.

Price: $4,085

Market cap: $574 billion

3. Binance Coin (BNB)

Binance Coin is the official cryptocurrency of Binance, one of the largest crypto exchanges in Canada. However, it was created to serve as a token to aid with payments for discounted trades. Binance Coin is now used for day-to-day transactions just like any other cryptocurrency.

Price: $594.69

Market cap: $109 billion

4. Solana (SOL)

Solana is a new cryptocurrency that was launched in March 2020. It prides itself on the speeds at which transactions are done on the platform and its overall robustness.

Price: $245.71

Market cap: $74 billion

NB: The above prices were taken on 27/11/2021

Choosing the right cryptocurrency exchange could differ between making it in the crypto space or completely flopping and failing. The cryptocurrency exchange you choose could affect how profitable your day-to-day trades are, how speedily you can buy and sell assets, and, unfortunately, if you will ever get your money or any profit in the first place.

This might come as a surprise, but they are many cryptocurrency exchange scams running, even in Canada. In 2019, thousands of everyday Canadians lost millions of dollars in the QuadrigaCX scandal and, to date, these people still haven’t seen their money.

Therefore, it is essential to choose a secure Canadian cryptocurrency exchange that is user-friendly and will keep your money safe. Here are three of the most popular exchanges in Canada:

1. CoinSmart

CoinSmart takes the gold for the best cryptocurrency exchange in Canada. If it is a new name to you, that’s because it has been focusing on improving trading services and not on marketing. But if you meet any veteran Canadian crypto trader, they are sure to tell you that this cryptocurrency exchange lives up to its name and is widely viewed as the best in the game.

2. Crypto.com

Crypto.com is a world power in the cryptocurrency exchange business and has recently made its mark on the Canadian crypto market. Reports state that it supports more than 100 cryptocurrencies, making it perfect for any user to invest in altcoins.

This cryptocurrency exchange offers some features that are unique only to it. It allows users to trade and create contracts and also earn interest by staking coins. Users can also make trades with 10x leverage if they are confident in a coin.

3. Bitbuy

CoinSmart might be the best cryptocurrency exchange app in Canada, and Crypto.com makes a strong case for second place, but Bitbuy takes home the bronze. It offers nine cryptocurrencies: Bitcoin, Litecoin, Ripple, Stellar, Bitcoin Cash, EOS, Aave, Ethereum, and Chainlink.

This cryptocurrency exchange boasts about its customer service and has a functional app with an outstanding interface that is well-rated by users. Buyers can fund their account directly from their bank account by making an INTERAC e-transfer or via bank wire, and your deposits will be made quickly.

In conclusion, Bitcoin has remained the most popular cryptocurrency globally since its inception in 2009, and it has continued to grow. Canada has not been left out of this growth and continues to take advantage of this. Although Bitcoin might be the most prominent cryptocurrency in Canada, there are others following closely on that list.

It’s been a mixed morning session for Bitcoin and the broader market.

At the time of writing, Bitcoin, BTC to USD, was up by 0.20% to $65,001.0.

A mixed start to the day saw Bitcoin fall to an early morning low $64,079.0 before making a move.

Steering clear of the first major support level at $62,172, Bitcoin rose to a late morning high $65,541.0.

Falling well short of the first major resistance level at $68,264, however, Bitcoin fell back to sub-$65,000 levels before finding support.

The Rest of the Pack

It’s also been a mixed morning for the rest of the majors.

Crypto.com Coin (-4.19%) and Bitcoin Cash SV (-0.60%) bucked the morning trend.

It was a bullish morning for the rest of the majors, however.

Through the morning, Chainlink and Polkadot led the way, with gains of 5.28% and 4.40% respectively.

Binance Coin (+2.13%), Litecoin (+2.39%), and Ripple’s XRP (+2.96%) also found strong support.

Cardano’s ADA (+0.79%) and Ethereum (+1.57%) trailed the front runners, however.

Through the early hours, the crypto total market cap fell to an early morning low $2,760bn before rising to a late morning high $2,839bn. At the time of writing, the total market cap stood at $2,800bn.

Bitcoin’s dominance rose to an early morning high 43.94% before falling to a late morning low 43.43%. At the time of writing, Bitcoin’s dominance stood at 43.81%.

For the Afternoon Ahead

Bitcoin would need to move through the $65,565 pivot to bring the first major resistance level at $68,264 into play.

Support from the broader market will be needed, however, for Bitcoin to break back through to $68,000 levels.

Barring an extended crypto rally, the first major resistance level and Wednesday’s ATH $68,958.0 would likely cap any upside.

In the event of another extended rally through the afternoon, Bitcoin could test resistance at $70,000. The second major resistance level sits at $71,657.

Failure to move through the $65,565 pivot would bring the first major support level at $62,172 into play.

Barring an afternoon reversal, however, Bitcoin should avoid sub-$62,000 levels.

The second major support level sits at $59,473.

Looking beyond the support and resistance levels, we saw the 50 EMA narrow on the 100 and the 200 EMAs this morning. We saw the 100 EMA avoid a bearish cross through the 200 EMA, however, limiting the damage.

Through the 2nd half of the day, a pull away of the 50 EMA from the 100 and 200 would bring $70,000 levels into play.

Key through the late morning and early afternoon, however, would be to break back through to $68,000 levels.

A fall back to sub-$64,500 levels would deliver a heavy loss on the day.

This article was originally posted on FX Empire

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As the American economy grapples with labor and supply shortages, the country’s central bank declared that “the risks of higher inflation have moved up.” And once again, the question of cryptocurrencies such as Bitcoin providing investors with a hedge against rising inflation is up for debate.

Speaking at a recent Bloomberg event, Starwood Capital Group’s Chairman Barry Sternlicht espoused cryptocurrencies as a smart hedge for investors in a world that only “prints money.” He also expressed concerns similar to the US Fed about the build-up of inflationary pressure on commodities.

The investor, whose company manages assets worth over $100 billion, also revealed that about 2-3% of his net worth is invested in digital assets, which include the top cap Bitcoin and Ethereum. He added,

“If it goes to zero, it won’t hurt me.”

In a previous interview with CNBC, the billionaire had elaborated further on his decision to delve into the crypto market. He said,

“The reason I own BTC is because the US government and every government in the Western hemisphere is printing money now until the end of time. And this is a finite amount of something, and it can be traded globally and people have fiat currencies whether it’s in Nigeria or… Bolivia or wherever, you can move into something that the world has accepted as a substitute for gold.”

However, not all seem to agree with his preference for Bitcoin over the historical and everlasting gold. Speaking to Economic Times recently, Mobius Capital Partners founder Mark Mobius opined that cryptocurrencies are more of a religion than an asset, as they are valued based purely on “speculation” and “belief.” He said,

“Bitcoin or cryptocurrencies are in the class of religion, it is a belief they will go up if other people believe the way you do, but otherwise, it is not an investment. It is not something that earns money, that pays dividends, produces something.”

Gold, on the other hand, “is not only a currency but can be used for industrial purposes,” noted Mobius. Gold is considered a superior conductor to copper or other metals and is hence preferred by electronics manufacturers, but its high price is a deterrent towards its usage. He further stated,

“That is why I do not think cryptocurrencies are in the category of viable investments. It is speculation you could play with it, have fun with it but do not consider it as an investment.”

Long-time Bitcoin critic Peter Schiff also weighed in on the cryptocurrency’s capacity as an inflation hedge earlier today. He tweeted,

Akin to the stock market, the cryptocurrency market has also been trading in the red today, with all major tokens including Bitcoin losing 15-20% of their valuation over the past day.

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Related Topics:Barry SternlichtfeaturedgoldInflationMark MobiusPeter SchiffUp Next

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While the top coins showed promising revival signs, Dogecoin depicted a sluggish acceleration. Its near-term technicals flashed mixed signs. Besides, Litecoin and CAKE noted gains on their daily charts after bouncing back from their multi-week support points.

Litecoin flashed bullish technicals, whereas CAKE exhibited a near-term bearish inclination.

Dogecoin (DOGE)

Source: TradingView, DOGE/USD

DOGE finally managed to break out of the descending channel (yellow) and formed an up-channel (white) over the past week. 

After an exceptional month-long rally to its 11-week milestone until 28 October, DOGE persistently declined for the past month. Then, it lost over 44% of its value and poked its four-month low on 26 November post a descending triangle (white) break out.

DOGE bulls found strong support at the $0.197- mark for over four months. Consequently, the price action witnessed a slight revival.

However, at press time, DOGE traded below its 20-SMA at $0.2096. It registered a 1.55% 24-hour loss. The RSI failed to stay above the midline while flashing neutral signs. Besides, the DMI showed a bullish preference but displayed a weak directional trend.

Litecoin (LTC)

Source: TradingView, LTC/USDT

Correlating with top cryptos, LTC consistently fell in a descending channel after touching its 25-week milestone on 10 November. Since then, the altcoin declined by over 38% to touch its one-month low on 28 November.

The bulls ultimately managed to trigger a down-channel breakout as the price revived in an ascending channel over the past week. With this ascent, the price action visibly obliged the seven-week-long support at the $181-mark.

At press time, LTC traded at $207.3 after noting a 2% 24-hour gain. The RSI swayed above the midline, depicting a bullish preference. Also, the DMI lines were on the verge of a bullish crossover. But the ADX displayed a substantially weak directional trend.

PancakeSwap (CAKE)

Source: TradingView, CAKE/USDT

The alt has been on a consistent downtrend since 26 August. After moving sideways during October, the price action bounced between the two parallel lines heading south. After losing over 41% of its value (from 7 November high), the price touched its four-month low on 26 November. 

However, bulls ensured 18-week-long support at the $12.14-mark. Accordingly, price breached broke out of the down-channel, but the bulls failed to sustain the upswing above the immediate resistance at the $13.95-mark.

At press time, CAKE traded at $13.19 after noting a 0.9% 24-hour gain. The RSI was weak after breaching the midline and stood at the 42-mark. Further, DMI reaffirmed the inclination towards the bears. Nevertheless, MACD depicted the bullish revival attempt. 

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Welcome to the latest edition of Cointelegraph’s decentralized finance newsletter.

A week packed with positive advancements in the DeFi space including nine-figure fund raises, successful product launches and soaring token prices was somewhat tarnished by the news of two severe security exploits. Read on to get the full scope of developments across the week.

What you’re about to read is the smaller version of this newsletter designed for brevity. For the full version of DeFi’s developments over the last week, drop your email below.

Borderless Capital launches $500M fund to support Algorand ecosystem

Capital venture firm Borderless Capital announced the launch of ALGO Fund II this week, a $500-million initiative assembled to support the creation of digital asset projects on the Algorand blockchain. 

Announced via a blog post by the Algorand Foundation, the capital will specifically focus on decentralized applications, niche services of liquidity mining, lending, borrowing and yield farming, as well as nonfungible tokens.

Algorand is an open-source decentralized blockchain most regarded for its speed of efficiency, security and status as a potential competitor to Ethereum’s dominance.

Incepted in November 2018, Borderless Capital has already invested in over 100 blockchain-related projects via its $400-million ALGO Fund I, including Tinyman, Yieldly, Opulous and Flare Network, among others, as well as established successful accelerator programs across three major industrial continents.

Iota prepares to launch decentralized smart contract platform

Distributed ledger platform Iota announced the launch of decentralized layer-one smart contract network Assembly and accompanying ASMB token this week.

Assembly will seek to drive adoption of smart contract services and foster an environment for creators, developers and community advocates that facilitates the expansion of the Iota ecosystem into Web 3.0 sectors, including the metaverse.

Expected to launch in 2022, Assembly will function in parallel to Iota and employ the network’s existing infrastructure, most notably the directed acyclic graph structure, to operate as an interoperable, self-sovereign bridge that reaps the benefits of scalability and security, among others.

Decentralized application developers will be able to create their own smart contract chains and set individual parameters for low-cost execution fees, a function that will also enable service providers to issue on-chain stablecoin assets to incentivize validators.

In a recent Twitter post, Iota revealed that stakers can earn rewards in both Shimmer (SMR) and ASMB tokens upon launch of the networks, stating that “for every 1 MIOTA staked, users receive 1 $SMR and 4 microASMB every 10 seconds, for 90 days, once the staking has started.”

DeFi projects MonoX and BadgerDAO exploited for $150M

This week, decentralized projects MonoX and BadgerDAO were the victims of individual sophisticated protocol hacks that resulted in over $150 million in asset losses. 

The MonoX platform suffered a single cyberattack on Tuesda when a bug in the smart contract’s swap contract enabled manual price manipulation of MONO tokens, an asset that had only just been listed on the Huobi exchange in the days prior.

After boosting the MONO token to what the team described as “sky-high” levels, the hackers exchanged the funds into other assets on the platform and secured lucrative profits.

In the days following the breach, the MonoX team confirmed that losses totaled around $31 million, alongside the publication of a remorseful statement, the essence of which stated:

“Days like yesterday are horrible, there is no sugar coating the harsh reality of a contract being exploited and people losing money. Our supporters put their faith in a new project like us, and yesterday we let them down.”

Similarly, but with no affiliation to the other, BadgerDAO was also the victim of a financial exploitation this week. Although concerns were raised by community members on Discord regarding suspicious increases in allowance in the days preceding, admins didn’t perceive this to be a threat as highlighted in this tweet from 0xMoves.

According to blockchain analytics service PeckShield, losses from the BadgerDAO have amassed $120 million at the time of writing, including 2078.76 Bitcoin (BTC), 30.27 Interest Bearing Bitcoin, and 151.32 Ether (ETH).

The Badger team has now responded by opening a full investigation into the events in addition to pausing smart contract activity until safety on the protocol is once again stabilized.

Related: Recounting 2021’s biggest DeFi hacking incidents

Token performances 

Analytical data reveals that DeFi’s total value locked has increased 8.01% across the week to a figure of $159.5 billion.

Data from Cointelegraph Markets Pro and TradingView reveals DeFi’s top 100 tokens by market capitalization performed reasonably well across the last seven days.

Terra (LUNA) soared to record heights this week thanks to gains of 66.85%. Uniswap (UNI) achieved a healthy 14.3%, while Tezos (XTZ) posted an increase of 12.70%. The fourth and fifth spots this week were claimed by Chainlink (LINK) and Oasis Network (ROSE) with 8.1% and 8% gains, respectively.

Analysis and hot topics from the last week:

DeFi TVL hits new highs while metaverse tokens show signs of exhaustionSHIB, RGT and AMPL shake off Fed taper comments by notching double-digit gainsPolygon’s expanding ecosystem backs MATIC’s rise toward a new all-time high

Thanks for reading our summary of this week’s most impactful DeFi developments. Join us again next Friday for more stories, insights and education in this dynamically advancing space.

TL;DR Breakdown

6.63% recession seen in global market cap after major currencies depreciate.Bitcoin witnessed a fall in prices to $53K after a 6.43% decrease.Ethereum faces a shock of 8.16%.Tether and USD Coin are among gainers in the leading list.

The crypto market has been witnessing a depreciation due to the liquidation of the market. The new Covid variant, Omicron, apparently fueled the crypto market in a YOLO response. A new currency named after this variant, Omicron, benefited from this situation while most others couldn’t keep their momentum. Major coins were expected to recover soon after the depression, but there has been no significant change yet.

Across the globe, Egypt went on a wheat-buying spree on Monday as Chicago wheat prices fell to a nearly three-week low on Tuesday. Concerns about the spread of the Omicron coronavirus variant could slow the global economy, driving investors to reduce risk exposure. A market analyst at The Price Futures Group noted that much of the sell-off was caused by funds seeking cover.

The overwhelming fundamental in the market right now is fear over Omicron and what it could do to demand

Jack Scoville, market analyst at The Price Futures Group RelatedPostsWhat is happening to Bitcoin and Crypto Market?Bitcoin price analysis: Bitcoin hits lowest since mid-Oct, breaks below $50k; falling to $47k rangeBitcoin, Ethereum, GXChain, Cosmos, Polygon Price Analysis ‒ 3 December Morning PredictionBitcoin, Ethereum, Binance Coin, Cardano, Polkadot Daily Price Analysis – 2 December Roundup

The conditions remain like the previous day, and major tokens’ downward trajectory has continued. Bitcoin, Ethereum, and Binance Coin suffer losses from the previous blow. These coins haven’t been able to keep their gains in recent days. Even though the crypto market is showing no significant improvements in the case of major tokens, the investors are eager to see a resurgence, which might not be far away.

Is Bitcoin waiting to resurge after a prolonged silence?

Bitcoin has been through a rough journey of ups and downs for the past few days. Compared to yesterday’s value, it has depreciated, i.e., the $56.5K range. This shedding amounted to 6.43%, bringing it to the $52.95K range.

This trend continues mainly due to the fear of investors that the market is seeing depreciation and impacting the major coins. Some investors dominated by the thought that it might devalue due to liquidation have affected its value. This change has brought the market cap for bitcoin to $1.000238 billion.

If we look at the trading volume of bitcoin, it was $40,435,397,106 at the time of writing. If we want to convert this volume to BTC, we get 763,663 Bitcoins. The circulating supply for this lead token is 18,890,506 BTC. There is no clear indication of its next move, but there are hopes for good times.

Ethereum and Binance Coin testing steepness?

Ethereum and Binance Coin are the affected ones like Bitcoin. Ethereum’s price, as per the last roundup, was in the $4,519 range, which has lowered to the $4,155 range today; it seems as if it is practicing sharp changes. This depreciation is about 8.16%, much more than the effect of liquidation on this as it witnessed yesterday.

ETH’s 24 hours performance is not good compared to seven-day activity, which is about a 1.52% gain. The market cap recorded for Ethereum is $492,896,505,842, which has reduced significantly after the recent shocks. It has been see-sawing between the $4.8K and $4.2K range, and it is to be seen what its next move is. The statistics show that the traders are yet fully confident in it, and this is evident from the trading volume, which is $26,614,267,610. Ethereum’s current market cap, which is $492,869,505,842, shows signs of resilience.

Binance Coin has also been closely following the progress in the market. It is one of the affected ones whose progress has been impeded by the recent lows. Recent changes brought a bearishness of 5.02%, which changed its price to the $584 range compared to yesterday, i.e., $614.

Even though there have been impacts of depreciation, the current market cap of Binance Coin is satisfactory. It was recorded to be $97,505,536,566 at the time of writing.  

Tether and USD Coin, likely gainers in the depressing times?

Tether and USD Coin were amongst the top 20, showing the lowest depreciation at writing. Tether ranks fourth on the list and seems least impacted by the changes in the market. USDT has shown a growth of 0.01% in the last 24 hours, bringing its price to the $1.00 range.

In comparison, its depreciation was 0.05% in the last seven days, which means that it is on its way back to rise and might prove the leading token that has regained momentum. Its gain in momentum has already improved its trading volume, which is $93,711,262,439.

USD Coin ranks 8th and has shown a fall in the value of a mere 0.09% in the last 24 hours and 0.10% in the last seven days. This depreciation has had no significant impact on its value because other tokens have been in trouble because of increased losses. It has continued the steady price of $1.00, which is better in these depressing times for the crypto market.

The market cap for USD Coin is $39,072,430,794. The volume for this token shows that it is performing well and might add further. At the time of writing, its volume is $6,039,325,097.

If these two coins continue to grow, it will be a prelude to the boom in the market after the sirens of the new virus variant.

Final thoughts

As of now, the depreciation in the market is affecting the leading currencies. But there is hope for resurgence and improvement in the global market cap, which has suffered losses of 6.63% in the last 24 hours. The currencies that have led this progress journey are currently Tether and USD Coin, but soon the leading troika might replace them if they resurge.

Intense research into the new coronavirus variant first identified in southern Africa has just begun. World leaders have urged people not to panic and get vaccinated if they can. On Tuesday, Regeneron said its Covid antibody treatment might be less effective against Omicron, indicating that the popular and widely beneficial monoclonal antibody drugs may need to be updated if the new variant spreads aggressively.

There is no final say in the market predictions, but the investors whose trust determines the value of additions to the market. So, there is a possibility that they will pour their capital in favor of top currencies, changing the ongoing depreciation trend. Looking at crypto market cycles in sequence over the years, we can see that Bitcoin has still exhibited a generally upward price trend even in the face of adversity. YOLO may be partially driven by the growth of consumer confidence, rather than fear.

We look forward to changes in late December as there are likely chances of changing the mood for investors. They weigh their options and will likely go for a better chance to “shoot for the moon.”

How about Elon Musk or any crypto trillionaire find ways to save the world rather than funding trips to the moon?

Muhammad Ali

Muhammad Ali is an expert on crypto investments. Loving to write about fintech, he joins the team to provide detailed analyses of the hottest crypto news.

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Oracle networks like Chainlink (CRYPTO:LINK) could redefine the future of the decentralized finance world, as was recently discussed between Motley Fool contributor Chris MacDonald and Motley Fool analyst Asit Sharma on this episode of "The Crypto Show" from Backstage Pass, recorded on Oct. 27.

Asit Sharma: Let's start with Chainlink. This is, by market capitalization, the 15th largest crypto, about $14 billion in market capitalization.

Chainlink is a decentralized Oracle network that enables universally connected smart contracts. I'll try to explain this in just a second. It allows blockchains to securely interact with external data feeds and payment systems. This is interesting. When we think about how digital assets interact with each other, we often think of peer-to-peer transactions on the blockchain. Let's say validation is a big part of that, so a transaction occurs on the blockchain. 

We've discussed mining of Bitcoin (CRYPTO:BTC) as a proof-of work mechanism to validate that. But I think what is less understood about this space is that as blockchains have more utility in the outside world, I'll call it the real world, although I will confess, Chris, I'm not sure what is actually the real world and what's the virtual world anymore.

As these currencies start to interact with the outside world, you need secure mechanisms to be able to link up data from that world into these peer-to-peer transactions. For example, think of a price feed. If we look at assets we discussed last week, say Compound, Aave -- these are decentralized finance platforms. We discussed their gear toward providing liquidity and maybe gaining some interest through those coins and having personal finance transactions on them -- lending, borrowing, even insurance. You need some kind of link from the price feed into the asset, so the underlying data feed for those, especially compound for those networks has to be supplied by someone.

Chainlink is an Oracle network. By that I mean that it supplies external data feeds and Oracle is -- I think, the easiest way to think of it is -- just a conduit of data from any data source into the blockchain. What Chainlink does, is it pulls outside data and then it has utility inside a network.

What other thoughts or comments you have? And I'll talk some more about this as we go on.

Chris MacDonald: I think that utility piece is very important and what Chainlink provides in terms of allowing for off-blockchain data to be integrated with on-blockchain data.

Being that Oracle and crypto middleman, I suppose, does create a lot of utility in the crypto world for blockchain networks that basically rely on being integrated with the outside world. There are a number of examples of this, where data from the real world, like you said, what's the real world anymore? But data from companies, businesses, whatever that they want to store on the blockchain, well there needs to be a way for them to do that.

Chainlink's value is really linked to the utility it can provide, and that's like you said, it's an intriguing one to look at.

Sharma: To give you an example of a real world application, I noticed that, last week the Associated Press said that it is partnering up with Chainlink to put its journalism on the blockchain.

A real world example in terms of technology is maybe the API, application programming interface. We're very used to looking at software-as-a-service companies, Chris, and understanding that if you're a developer and you have access to, let's say a DocuSign's (NASDAQ:DOCU) API. If you have access to that API, then you can put an e-signature on your page, whatever your website is or your mobile application.

The blockchain is interacting with these external data feeds, actually using API and other methods to give all sorts of information. Associated Press, either they supply some price data for stocks, but they also have all sorts of interesting data, like sports information, the outcomes of sports games, election, race calls, which is something they put in their press release on this. If you think about the data, that we watch, maybe on a big election night that's coming in, and you see the percentages changing every minute. You're trying to see who's going to win the race you're interested in. You see your candidate has 51 percent of the vote and now it's 51.1 percent of the vote. That's supplied by organizations like the AP.

How do they move that to the blockchain if there is a token that is going to help? I'm sure this is out there because I've seen this in other guises. Help users place bets on an election outcome. It will do that using its API.

Really putting that through a note into Chainlink's blockchain and then Chainlink will enable the smart contracts to happen that represent the bets that one person may be using with real digital money. You can see how it seems like it's something very complex, but at its essence, it really is connecting pieces of technology that we already use.

Again, what is essentially a network of information -- that's all the blockchain is. At the end of the day, it's a series of records. One long database of sequential records that inter-relate with each other. Any other comments or thoughts before we move on to the next one?

MacDonald: Just that I'll be the first user of football or hockey pool that is run on the blockchain. Maybe there is already one out there. I don't know, but stuff like that, the actual applications of it, that's what gets me excited about crypto. Chainlink is just really, that intermediary that's making a lot of stuff happen, and I think that's why so many people are excited about it.

Sharma: It's a fun asset to follow. Lastly, we should say that I like the capitalization that's flowed into it. I like the fact that it's a huge asset. In some ways, it's already proven.

When you see press releases by organizations like Associated Press, you understand it's got utility, but the fact that the native token itself, Link, has so much money behind it right now, what we said, the 15th biggest asset by market capitalization. Those are the types of assets that I'm looking for first, rather than the most speculative assets and trying to build out a portfolio for myself.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer. Stock AdvisorS&P 500690%145%Join Stock Advisor

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Related ArticlesWhy Chainlink Soared More Than 11% TodayIs Now the Time to Go All in on Chainlink?

Smart contracts are becoming increasingly popular, and it is clear to see why. Taking away an additional cost and increasing the speed of transactions is appealing, regardless of the industry you are discussing.

By- Steve Seos

VeChain and Chainlink have both had different types of success on the cryptocurrency market recently. VeChain has seen a sharp increase in price recently, whereas Chainlink has shown a steady growth from the middle of October. Both cryptos are on the right track, showing increases in market value and holding high rankings on CoinCapMarket. Despite having different uses both VeChain and Chainlink are connected by more than the name 'chain', they have both benefitted from the continuous increase in popularity that the cryptocurrency market's success is producing.

HUH Token would also like to reap the benefits of this current crypto craze. HUH Token is a community-based token that will be launched on the 6th of December and is currently under audit by a few different companies, one of which is Certik. This has provided more confidence in the token and could be the investment opportunity that many will not want to miss out on.

Follow NewsGram on Facebook to stay updated.

VeChain was once a token used to link products to consumers by utilising blockchain technology, this has since evolved into a token to track all different kinds of assets on a blockchain that includes a smart contract. A smart contract is a way for two parties to create an agreement without having to have a third party witness it, cutting out the middleman is also a welcome step forward in any field. The Token is the currency for the Vechain ecosystem, it is used for all its transactions and can even be staked for rewards like many other cryptocurrencies.

Chainlink identified a problem with the use of smart contracts, mainly that they work in isolation of external information that could affect them in some cases. Chainlink decided to create a network of decentralised data providers that would be rewarded with its currency. These people are referred to as oracles. In order to earn these rewards, oracles can stake their Chainlink tokens and then provide the information. If the information is valid, you are rewarded and if incorrect then their stake is heavily reduced, this incentivises honesty.

VeChain and Chainlink have both had different types of success on the cryptocurrency market recently. VeChain has seen a sharp increase in price recently, whereas Chainlink has shown a steady growth from the middle of October.Unsplash

HUH Token is not currently on the market and will be showing off its features success rates when they are available to the public. Looking at the information available to everyone, HUH Token seem prepared to hit the ground running on the 6th of December. Just like VeChain and Chainlink, HUH Token is taking advantage of smart contract technology. Their smart contract ensures that no one has the ability to take a portion of your rewards for using HUH Token features such their profitable referral system

Also Read: Status of Bitcoin in India

Once you have registered your wallet on the HUH Token website, you can use your unique referral code to generate additional cryptocurrency. When the person you referred invests in HUH Token, you will receive a generous 10% of their first investment as BNB (Binance). An intelligent way to spread the risk of your portfolio.

Smart contracts are becoming increasingly popular, and it is clear to see why. Taking away an additional cost and increasing the speed of transactions is appealing, regardless of the industry you are discussing. VeChain and Chainlink have found success recently and HUH Token will soon reach the market and aim to use its own smart contract, in addition to its other features, to find success. Will HUH Token's unique attributes be enough to set it apart from the competition? Investors from around the globe will soon find out.

Disclaimer: (This article is sponsored and includes some commercial links)

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Women experience many changes in their body during the course of a pregnancy.

By Lalchawimawi Sanate

Pregnancy is joyful and a blessing. Women experience many changes in their body during the course of a pregnancy. Morning sickness, lathery, vomiting, fatigue, gradual weight gain, swelling on their feet, ache and pains on muscles and joints. Things which one could do easily do without any help before becoming pregnant, can become a difficult task post pregnancy, this changes gives a lot of stress to a pregnant women. Stress can be brought on by things like submitting reports before deadline, organising the household, job changes, financial burden etc. these can become overwhelming during pregnancy.

Pregnancy related stress can be due to:

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It's important to be objective when examining your investment and there are two potential warning signs for those who are concerned about loss and one potential investment.

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These Dog-based cryptocurrencies are skyrocketing, earning early investors a fortune.

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Cryptocurrency exchange Kraken is planning on listing Shiba Inu, which could continue to hike up the price of the already trending meme coin.

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EverGrow Coin has broken all previous records of the crypto space, Shiba Inu is set to be listed on Kraken, and the much anticipated HUH Token is announcing its launch shortly. Cryptocurrency exchange Kraken is planning on listing Shiba Inu, which could continue to hike up the price of the already trending meme coin. Kraken asked fans of the coin on Twitter: "if we get 2,000 likes we will list $SHIB tomorrow. #SHIBArmy where you at?".

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Chainlink (CRYPTO:LINK), an oracle network used to support the integration of off-chain and on-chain data, has been making headlines of late. Indeed, the requirement many decentralized finance (DeFi) projects have to integrate blockchain technologies with off-chain data sources is growing. And Chainlink is a leading protocol allowing for the smooth integration of the real world and the digital world.

Recent news that Saber, an automated market maker on the Solana (CRYPTO:SOL) blockchain, would be using Chainlink price feeds for reliable order prices is big news. Accordingly, investors bullish on the upside the Solana network provides appear to be gravitating toward Chainlink's utility as an oracle network in this case.

Today, SOL is trading down around 3%, while LINK is currently more than 4% higher, giving up some of its earlier gains.

Image source: Getty Images.

So what

The ability for decentralized applications (dApps) to utilize off-blockchain data is essential to the growth of the DeFi space. However, outside of Chainlink and a few other oracle networks, this isn't entirely feasible.

Investors in LINK often point to the utility this network provides to developers and users as a reason for investing in this token long-term. As the network effects of decentralized applications grow, investors hope to benefit from the rising value Chainlink provides, as reflected in the price of LINK.

Chainlink has been widely viewed as one of the most stable, secure, and reliable price oracles in the market. Accordingly, LINK is a token that has continued to pick up momentum, particularly on big news items like this.

Now what

Cryptocurrency investors thinking about the future of where cryptocurrencies and blockchain networks are headed may want to consider Chainlink. This oracle network provides a real-world use case that's been difficult to replicate. In many respects, Chainlink is a leader in this regard.

Should additional partnerships and use cases be identified, expectations are that LINK could continue to appreciate in value, in lockstep with the broader DeFi space. Accordingly, this is a token on my watch list right now.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer. Stock AdvisorS&P 500683%145%Join Stock Advisor

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Chainlink oracle assistance services are intended to help emerging areas of the smart contract economy grow. Chainlink Price Feeds, for example, enable DeFi applications to manage assets dynamically based on real-time market conditions, whereas Chainlink Verifiable Random Function (VRF) enables NFTs and blockchain games to create fair distribution models and unpredictable gameplay. It provides smart contract developers with a wide range of Oracle services that provide external data and advanced computational capabilities to their applications.

Although many hybrid smart contracts started with one Oracle service, this is often changing quickly because the applications have become more sophisticated. Now, developers are combining many Oracle Chainlink services into one application for greater value and a simpler and greater user experience.

As per the Chainlink forecast, most cryptocurrencies are liable to change rapidly and unpredictably, so people understand trading in them. Cryptocurrency in this case has shown a prominently apparent value development. 

Chainlink’s motto is to ensure investors feel safe and conduct secure transactions at lightning speed. Times have changed today. There are experts concerned withinside the evaluation of quotes and the execution of transactions online. Cryptocurrency is capable of manufacturing tangible income, which successively pulls customers Chainlink network and has set better benchmarks for itself notwithstanding. Chainlink is expected to surpass the expectancies of all cryptocurrency traders who have determined this arena extra interactive and uncomplicated.

Chainlink is a network that is absolutely decentralized, and is no longer coming below any regulatory framework, and has its number one goal well-described to hyperlink clever contracts with statistics from the actual world, subsequently the justification to the call it ‘LINK.’

The first ICO of Chainlink, developed by Sergey Nazarov with Steve Ellis as another co-founder, was created in September 2017 and very successfully raised 32 million US dollars with a total of 1 billion LINK tokens.

By working hard to change the tech world map, the entire Chainlink ecosystem ensures that participants experience the functional benefits of blockchain. Chainlink not only facilitates earnings but creates hope. Backed by a strengthened decentralized agreement and strengthened network, Chainlink aims to provide users with the ability to also be available on alternative platforms for digital media sharing by eliminating any intermediary role.

To encourage Chainlink users, they also participate in reward programs that enable smart contracts that provide access to external data sources such as API information. If participants want to join the off-chain, they must submit a ticket to the Chainlink network. Such contracts shall match the requesting contract with the eligible oracles. The aggregation contract collects data from the selected oracles to find the most accurate result. Also, through starting staking, LINK benefits node operators who show their commitment to the network.

Thus, Chainlink acts as an important hand in reinforcing the economy, guaranteeing the liquidity of Chainlink.

TagsDeFi News Scott Cook1 week agoLast Updated: November 10, 2021 2 minutes read Scott Cook got into crypto world since 2010. He has worked as a news writer for three years in some of the foremost publications. He recently joined our team as a crypto news writer. He regularly contributes latest happenings of crypto industry. In addition to that, he is very good at technical analysis. Subscribe to our mailing list to get the new updates! Related Articles 22 hours ago 2 days ago 2 days ago 3 days ago

TL;DR BreakdownChainlink

price analysis is bearish today.Strong resistance is found at $29.Support for ADA/USD is present at $27.

The Chainlink price analysis shows bearish signs today. A decrease in price has been observed as bears intervene in the coin’s progress after two days of bullish efforts for recovery. The LINK/USD has been on a downwards trend for the last week, as bears ruled the broader crypto market, and LINK was no exception. LINK went through a substantial loss, especially on 15th, 16th, and then on 18th November, but LINK rejected further downside below 26.5, and bulls recovered the price, but recovery is comparatively small, and today again bears are making progress till now.

The broader crypto market is trading in bears today. The majority of cryptocurrencies, including Bitcoin, Ethereum, and most of the top altcoins, are all showing signs of correction after yesterday’s bullish market.

RelatedPostsChainlink Price Analysis: LINK returns above $28, more upside to slowly follow?Chainlink price analysis: Price rises up to $28.37 after minimal recoveryChainlink price analysis: LINK deflates to $28, as bears dominate the marketChainlink Price Analysis: LINK/USD reverses to a lower high at $29LINK/USD 1-day price chart: Price drops as bears stop further advancement

The 1-day Chainlink price analysis shows a price drop today as selling pressure triggered again. After a significant improvement in LINK/USD pair price for the past two days, bears have again taken over the price function, and the crypto pair is now trading at $28 at the time of writing. LINK reports a 1.43 percent loss of value during the last 24 hours and has lost a value of more than 16 percent over the past week.

The volatility is high for the LINK/USD pair, as the Bollinger bands indicator suggests. The upper band is present at the $36.6 mark, and the lower band is present at the $26.7 mark representing support for LINK; the mean average line of the Bollinger bands is above the price level at the $31.6 mark representing resistance for the crypto pair.

The relative strength index (RSI) is trading in the lower half of the neutral zone on a very slight downslope, indicating the selling activity taking place in the market. The RSI indicator is present at index 40.

price analysis: Recent developments and further technical indications

The 4-hour price chart for Chainlink price analysis shows bullish efforts in the last four hours, after the price breakout being downwards at the start of today’s session. Bulls seem to be gaining strength again as a rise in price has been observed in the recent hours as selling pressure is decreasing.

The volatility is decreasing on the 4-hour chart as Bollinger bands are slightly contracting, with the upper band at the $29 mark and the lower band at the $26 mark, forming the average at the $27.9 mark, which represents support for LINK price. The indicator also shows an upwards breakout, so a bullish rally again in the coming hours is also not out of the question. The relative strength index shows horizontal movement after traveling on a downwards curve in the lower half of the neutral zone and is present at index 43, indicating a decrease in selling pressure and the entrance of buyers into the market currently.

price analysis: Conclusion

The Chainlink price analysis reveals a bearish trend, despite some bullish activity observed recently. Most of the technical indications are also favoring the bearish side. However, a reversal in trend is also possible as the RSI suggests a balanced out buying and selling activity currently, so LINK may turn bullish if bulls gain strength during the coming hours, and we may observe the price rising again.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions. Aamir Sheikh

Amir is a media, marketing and content professional working in the digital industry. A veteran in content production Amir is now an enthusiastic cryptocurrency proponent, analyst and writer.

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Chainlink, the market-leading blockchain oracle solution, has crossed $75 billion in Total Value Secured (TVS). By their nature, blockchains and the smart contracts built atop them are unable to connect with real-world data and systems. Chainlink solves this problem through the use of oracle networks that pull and aggregate data from the real world in order to trigger smart contracts built on blockchains. Today, hundreds of DeFi applications across leading blockchains like Ethereum, Binance Smart Chain, Avalanche, and others now rely on Chainlink oracle networks to trigger their smart contracts. The most popular oracle networks in DeFi are Chainlink Price Feeds, which provide highly accurate, tamper-proof market data for powering on-chain financial applications such as decentralized lending markets, stablecoins, and more.

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“Crossing $75Bn in total value secured makes the Chainlink network one of the most value securing forms of decentralized consensus on the planet.” said Sergey Nazarov, Co-founder of Chainlink. “Chainlink networks are securing the most valuable smart contracts across multiple chains. Without trusted price data to trigger smart contracts, it is impossible to build DeFi applications, and we do not think it is a coincidence that the rate at which Chainlink has been able to bring new market data onto blockchains has been the rate at which developers have been able to build exciting new DeFi apps.”

The Chainlink Network is made up of independent oracle nodes, run by world-class DevOps teams from organizations like Deutsche Telekom’s T-Systems, Swisscom, and others. The most time-tested oracle network in the blockchain industry, Chainlink has become the de facto standard in price data services for anyone building financial blockchain applications. Since mainnet launch, over 700 Chainlink oracle networks have gone live and have served over 600 million data points to over 10 different blockchains.

“Market data in DeFi is just the first area where Chainlink is beginning to secure and trigger massive amounts of smart contract value. As more and more organizations launch Chainlink nodes, we’re seeing all sorts of datasets enter blockchains through Chainlink,” continued Sergey Nazarov. “Additionally, Chainlink oracles are rapidly moving beyond data delivery and into the world of off-chain computation, meaning the network can provide randomness, automation, privacy, and scalability for smart contracts, expanding what those hybrid smart contracts are able to achieve.”

 New types of data that have recently been made available on-chain through Chainlink include weather data from Google Cloud Platform and AccuWeather, as well as sports and election data from the Associated Press, the first major news organization to become a Chainlink node operator.

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Chainlink’s computational abilities are also continuing to expand with the recent launch of Keepers, which enables the secure automation of smart contracts, and the growing popularity of Verifiable Random Function, a random number generation service that ensures outcomes are provably random and therefore fair.

Finally, Chainlink has recently announced the Cross-Chain Interoperability Protocol (CCIP), which provides a universal, open standard for developers to build secure services and applications that can send messages, transfer tokens, and initiate actions across multiple networks. As a blockchain agnostic network, Chainlink will be at the center of what is increasingly a multi-blockchain ecosystem.

$75 billionblockchain oracleChainlinkNewsreal-world datasmart contractsTotal Value Secured Share PRNewswire

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SAN FRANCISCO, Nov. 4, 2021 /PRNewswire/ -- Chainlink, the market-leading blockchain oracle solution, has crossed $75 billion in Total Value Secured (TVS). By their nature, blockchains and the smart contracts built atop them are unable to connect with real-world data and systems. Chainlink solves this problem through the use of oracle networks that pull and aggregate data from the real world in order to trigger smart contracts built on blockchains. Today, hundreds of DeFi applications across leading blockchains like Ethereum, Binance Smart Chain, Avalanche, and others now rely on Chainlink oracle networks to trigger their smart contracts. The most popular oracle networks in DeFi are Chainlink Price Feeds, which provide highly accurate, tamper-proof market data for powering on-chain financial applications such as decentralized lending markets, stablecoins, and more.

"Crossing $75Bn in total value secured makes the Chainlink network one of the most value securing forms of decentralized consensus on the planet." said Sergey Nazarov, Co-founder of Chainlink. "Chainlink networks are securing the most valuable smart contracts across multiple chains. Without trusted price data to trigger smart contracts, it is impossible to build DeFi applications, and we do not think it is a coincidence that the rate at which Chainlink has been able to bring new market data onto blockchains has been the rate at which developers have been able to build exciting new DeFi apps."

The Chainlink Network is made up of independent oracle nodes, run by world-class DevOps teams from organizations like Deutsche Telekom's T-Systems, Swisscom, and others. The most time-tested oracle network in the blockchain industry, Chainlink has become the de facto standard in price data services for anyone building financial blockchain applications. Since mainnet launch, over 700 Chainlink oracle networks have gone live and have served over 600 million data points to over 10 different blockchains.

"Market data in DeFi is just the first area where Chainlink is beginning to secure and trigger massive amounts of smart contract value. As more and more organizations launch Chainlink nodes, we're seeing all sorts of datasets enter blockchains through Chainlink," continued Sergey Nazarov. "Additionally, Chainlink oracles are rapidly moving beyond data delivery and into the world of off-chain computation, meaning the network can provide randomness, automation, privacy, and scalability for smart contracts, expanding what those hybrid smart contracts are able to achieve."

 New types of data that have recently been made available on-chain through Chainlink include weather data from Google Cloud Platform and AccuWeather, as well as sports and election data from the Associated Press, the first major news organization to become a Chainlink node operator.

Chainlink's computational abilities are also continuing to expand with the recent launch of Keepers, which enables the secure automation of smart contracts, and the growing popularity of Verifiable Random Function, a random number generation service that ensures outcomes are provably random and therefore fair. Finally, Chainlink has recently announced the Cross-Chain Interoperability Protocol (CCIP), which provides a universal, open standard for developers to build secure services and applications that can send messages, transfer tokens, and initiate actions across multiple networks. As a blockchain agnostic network, Chainlink will be at the center of what is increasingly a multi-blockchain ecosystem.

If you would like to learn more about Chainlink, visit chain.link. You can also subscribe to the Chainlink newsletter and follow @chainlink on Twitter.

About ChainlinkChainlink is the industry standard oracle network for powering hybrid smart contracts. Chainlink Decentralized Oracle Networks provide developers with the largest collection of high-quality data sources and secure off-chain computations to expand the capabilities of smart contracts on any blockchain. Managed by a global, decentralized community, Chainlink currently secures billions of dollars in value for smart contracts across decentralized finance (DeFi), insurance, gaming, and other major industries.

Chainlink is trusted by hundreds of organizations, from global enterprises to projects at the forefront of the blockchain economy, to deliver definitive truth via secure, reliable oracle networks. To learn more about Chainlink, visit chain.link and subscribe to the Chainlink newsletter. To understand the full vision of the Chainlink Network, read the Chainlink 2.0 whitepaper. Want to discuss an integration? Talk to an expert.

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