SnoopyBabe innovative memecoin with its ecosystem related Web3 | Fairlaunch on Launchpad TonRaffles

SnoopyBabe is not just a memecoin project dedicated to China’s cutest cat. This project has launched a useful Ecosystem: SnoopyBabe TON Tools | SnoopyBabe SOL Tools | SnoopyBabe Play | New app Web3 Soon

SnoopyBabe combines in its ecosystem several Solana and Ton networks, two of the fastest and most promising blockchains. The project initially launched its $SBABE token on the Solana blockchain. And it also launched a useful Web3 ecosystem on the Solana network, which is constantly being expanded and updated.

The SnoopyBabe ecosystem on the Solana network and their token $SBABE

SnoopyBabe SOL Tools bot V1.1

SnoopyBabe developed and are launching SnoopyBabe SOL Tools: https://t.me/sbabe_tools_bot

This bot will be useful first of all for investors to have all useful tools for Solana in one place.

In this version 1.1 , you can track price changes on other projects and receive customizable notifications. This project increased to 15 contract addresses for tracking in this version.
Additionally in this Version 1.1 they added Security Check feature: Mintable | Mutable Info | Creation TX | Ownership Renounced | Creator Address | Creator Balance | Token % of Creator | Freezable. In a future V1.2 update, they add the LP Burn | LP Locked check feature, as well as expand the number of contracts in the basic free version and add other useful features.

A little later they will add paid subscriptions that will give advanced features, but all the basic features will be available for free. The project will also add a referral program so that you can recommend SnoopyBabe SOL Tools to your friends and colleagues and get additional bonuses and rewards.

SnoopyBabe Play: Solana Web3 blockchain gaming platform

Play, earn and have fun together at SnoopyBabe: https://play.snoopybabe.com 

SnoopyBabe are launching this new kind of Web3 ecosystem through which you can test your luck and try to win $Solana or $SBABE tokens. All SnoopyBabe games in our “Play” section uses a verifiable randomized game protocol on the chain, Gamba. (https://explorer.gamba.so/) Guacamole, Fronk Casino, SolVegas, etc. are launched on this platform. But you can see SnoopyBabe design and  development has gone further than these projects. Just compare SnoopyBabr Play site and slots and you will see the huge difference yourself! Therefore, everything is completely clear and safe.

SnoopyBabe Web3 ecosystem on the TON network and their token $SBABE

SnoopyBabe TON Tools V1.0: a useful tool for all investors on the TON network

SnoopyBabe TON Tools has officially been added to Ton.app – https://ton.app/utilities/ton-tools-bot?id=1546

SnoopyBabe developed  and are launching SnoopyBabe TON Tools. This bot will be useful for all investors in the TON network. Investors will be able to receive customizable price change alerts to make a timely decision to sell or buy. In this version, you can add up to 10 contract addresses for tracking purposes. This early version adds a Security Check (Audit): Check for Ownership Revoked | Check for Mint more jettons | Check for Change Metadata.

In the next updates project improve the Security Check and add more parameters that bot will check. Additionally project will integrate Telegram Wallet into SnoopyBabe TON Tools and that will allow investors to buy and sell directly in bot. In the future project will add SnoopyBabe Sniper TON Bot feature that will allow to quickly find new projects in TON network and make profitable deals for investors at an early stage. SnoopyBabe TON Tools starts with the V1.0 release, and then every month additional useful features and functions will be added.

A little later project will add paid subscriptions with payment feature in $SBABET and $TON, which will give advanced features, but all basic functions will be available for free. SnoopyBabe TON Tools will be a separate ecosystem within their main ecosystem.

Fairlaunch of the $SBABET token (Ton network) on the Launchpad TonRaffles

The project is currently running a Fair Launch for their new token $SBABET. It is taking place on the TonRaffles Launchpad and will run until April 02. The project has already raised over 1000 TON and continues to grow. Also works affiliate program: bring friends and contacts on your affiliate link and get 5% in TON from the amount of their participation.

Tonraffles Launchpad: https://tonraffles.app/jetton/fairlaunch/SBABET

Conclusions

This project though is a live cat meme from China, but it’s not just a meme coin. They are working hard on their ecosystem and constantly expanding it. They are releasing new useful applications, and as we have checked they are immediately working versions and not empty promises. And also as we noticed everything looks very high quality. Now they want to combine two networks in their ecosystem and launch more useful applications and even create a bridge between the networks. But as said by SnoopyBabe project developers they don’t give empty promises. And that’s why they announce only when their useful application is ready to launch. You can see their project yourself and check their already launched ecosystem and check everything yourself.

Website: https://snoopybabe.com/
SnoopyBabe TON Tools: https://t.me/sbabet_tools_bot
SnoopyBabe SOL Tools: https://t.me/sbabe_tools_bot
SnoopyBabe Play: https://play.snoopybabe.com/
White Paper V3.0: https://snoopybabe.com/Snoopy_Whitepaper.pdf
FAQ: https://docs.snoopybabe.com/sbabe/

Read More

Why the Uniswap exchange offered to share profits with its token holders

The Uniswap proposal involves distributing a portion of the commissions. And which it charges from exchange pool liquidity providers to the UNI token holders involved in managing the protocol

The management token of leading decentralized exchange Uniswap (UNI) rose 70% in just an hour and a half on February 24. And reaching the maximum since April 2022. This happened after the developers suggested sharing the service’s revenue with token holders.

The UNI token is the management token of Uniswap, the largest decentralized cryptocurrency exchange by capitalization. Its holders can participate in the management of the protocol through voting on various community proposals. Right now, the UNI token is trading at $10. But trading volumes dropped by more than 50% a day after the initiative appeared. The total value of blockchain assets on Uniswap exceeds $5 billion.

Uniswap Foundation announced a new motivational strategy for UNI token holders. The company plans to distribute commissions from protocol transactions to UNI token holders. And actively participating in the protocol management process. Key parameters related to commissions will continue to be controlled by the Uniswap Foundation itself.

Devin Walsh, executive director of the Uniswap Foundation, said the proposal aims to incentivize active delegation (of votes). And which will lead to the long-term success and sustainability of the protocol.

This isn’t the first time the idea itself has been brought up for discussion, but this is the time when it could actually be implemented. According to Blockworks analyst Matt Feibach, it is unlikely that the Uniswap Foundation would have taken such a step without carefully assessing the sentiments of the largest token holders.

The idea of sharing profits with token holders immediately resonated with other projects. Following Uniswap, the Frax Finance protocol team is going to put a proposal to the community to vote on the distribution of the protocol’s revenues among the holders of the project’s derivative tokens. Following the publication that Frax plans to follow Uniswap’s lead, the FXS token reacted with a short-term rise of 16%.

Our experts also note that the founder of the largest NFT platform Blur and the new blockchain ecosystem Blast under the pseudonym Pacman is also interested in the implementation of a user reward mechanism. And like Uniswap: he stated that the Blur community should follow their lead. The Blur token reacted to the publication by growing by more than 10%.

Read More

What will happen to cryptocurrency in 2024

Our experts talked about the sources of new capital in the cryptocurrency market. And the trends shaping the demand for cryptocurrency

The interest of users in the cryptocurrency market and the demand for cryptoassets are driven by both global expected events and new trends. Our experts told us what exactly could trigger capital inflows into bitcoin and other cryptocurrencies in 2024.

Halving and new highs

In 2024, one of the most anticipated events for the crypto industry will take place – bitcoin halving. This term refers to the halving of payments to miners – members of the cryptocommunity who mine cryptocurrency.

Halving is a planned halving of the number of newly issued bitcoins that are created and distributed to miners who perform verification and validation of transactions on the network. The procedure is embedded in bitcoin’s program code to ensure that the total number of coins in the network never exceeds 21 million units.

Bitcoin halving occurs about once every four years. The event reduces the inflow of coins to the market by half. But the demand for them at the same time remains unchanged. As a result, there is a shortage of bitcoins, which pushes the cryptocurrency’s rate up. Statistics show that bitcoin updates the absolute maximum value about a year and a half after halving. That is, theoretically, the new peak of the rate will be reached in 2025.

But there are speculations according to which the maximum, contrary to history, can also be registered in 2024. The reason is the likely launch of spot bitcoin-ETFs in the US. The battle of market participants for the approval of the instrument has been going on since 2013. With its appearance, institutional investors’ money may flow into the crypto industry.

New capital sources

The year 2024 has several prerequisites to become favorable for the cryptocurrency market. First, investors are full of positive expectations due to hopes of approval of a bitcoin-ETF by the U.S. Securities and Exchange Commission (SEC). Market participants expect the emergence of a bitcoin-linked exchange traded fund. And that will push asset managers from the world of traditional finance to embrace cryptocurrencies as another tool to diversify portfolios. This will encourage capital to flow into the cryptocurrency market.

Secondly, we can expect to see continued growth in interest in Ordinals, which are now available not only on the bitcoin network. But also in other blockchains. This gaining popularity, which was born in the bitcoin blockchain, is now spreading to other networks as well.

The interest in the new standard also facilitates the flow of capital into the crypto market and contributes to its growth. Above all, the positive impact stimulates interest in bitcoin. And whose blockchain has become the progenitor of the “ordinals”.

The year 2024 could also be a watershed year for the NFT market as a whole. And which has long been dominated by networks such as Ethereum or Solana. In November 2023, the volume of NFT trades in the bitcoin network exceeded that of Ethereum. And this was made possible by the emergence of Ordinals. This will probably be one of the major trends for the NFT market in 2024 – the flow of capital and users to the bitcoin network.

The third trend in 2024 will be the boom of ecosystems and so-called Layer 2 applications. These are focused on infrastructure creation and development of blockchain tokenomics. It is worth paying attention to the DePIN concept. The emergence of new concepts and applications like these. It could help stimulate adoption and demand for cryptocurrency by a wide range of users.

Read More

What will happen to Bitcoin in October

Our experts analyzed the state of the market and told us what will happen to the Bitcoin exchange rate in the coming month

October is going to be an interesting period for Bitcoin, which will largely determine further developments in the entire market.

The BTC market continues to stabilize after several events that affected its price in recent months. Bitcoin’s price has reached a one-year low. And at the same time falling by 13% from the July high, which was $31.5 thousand. The fall is due to the accumulation of funds by institutional investors. And that led to a decrease in the supply of BTC on exchanges. Now only 5.83% of the total amount of BTC is in the wallets of crypto exchanges.

Historical analysis shows that a decrease in bitcoin supply on exchanges is often associated with an increase in its price. However, despite this, the opposite trend was observed in September.

Grayscale has won a lawsuit against the US Securities and Exchange Commission (SEC) over the conversion of Grayscale Bitcoin Trust (GBTC) into a spot bitcoin-ETF. This has led to large purchases of BTC by institutional investors. And most of whom are storing assets in cold wallets to increase the safety of their funds. This has also contributed to a reduction in the supply of BTC on exchanges.

The bearish mood in the bitcoin market led to a decrease in trading activity. And the daily trading volume reached a low. However, if the market sentiment changes to bullish, the price of bitcoin, and with it the rest of the cryptocurrencies, will start to rise.

Data from In/Out of Money Around Price (IOMAP) shows that if bitcoin overcomes the resistance at $28.5 thousand, it could stimulate the price to rise to $28.5 thousand. If trading volumes increase significantly, bitcoin’s next rally could exceed this level.

However, if the price drops below $25k, the forecast may be canceled and bearish sentiment may increase.

Hopes for an upward price movement are high

Historically, October is one of the strongest months for VTS. And in 69% of cases the first cryptocurrency grew. The situation in altcoins is a bit different. Many alternative coins have “rewritten the bottom” and continue to trade with about 90% discount. If bitcoin manages to consolidate above the zone outlined above, altcoins could return to early July levels. If Bitcoin manages to consolidate above the zone.

And which has been outlined above, altcoins could return to early July levels. Some coins could go higher. But such a prospect is better to assess individually for each project.

The last few months with a shortage of fresh liquidity. As well as fundamental factors that can return interest in digital assets, the positioning of participants on BTC does not change. And large players continue to “hold” (hold in anticipation of growth), while small players continue to lose money on derivatives inside the price range.

This directly affects the lack of strong price movements. And so far, it is very difficult to say for sure what exactly will be the trigger for a surge in volatility. However, our experts note that such a long sideways (“flat”) formation on BTC will definitely lead to a price explosion in the future.

Read More

Why PayPal is entering the cryptocurrency market

PayPal has launched its own dollar stablecoin. We tell you why it is necessary and what it means for the cryptosphere. As well as what prospects the new instrument has on the global financial market

After two years of development and portability, PayPal has launched its own dollar-stablecoin. And actually became one of the first major payment companies that were able to bring their crypto product to the mass market.

The stablecoin from the payment service was named PayPal USD and the stock ticker PYUSD. Its issuer is Paxos and it will be fully backed by dollar deposits, short-term treasuries and similar financial instruments. Its exchange rate is pegged to the U.S. dollar exchange rate. And the company will initially gradually make it available to PayPal customers in the US.

Stablecoin from PayPal will be exchangeable for dollars or other cryptocurrencies available in PayPal wallets. The company will set an exchange rate that includes the service’s commission on each conversion. PayPal USD will also be able to be used to pay for purchases through a wallet in Venmo, a popular payment app from PayPal. In addition, it will be possible to transfer the token to compatible third-party wallets that are not part of the PayPal network. At an early stage, PayPal expects that PYUSD will be used mainly in the cryptocurrency and Web3 sectors, for example, to exchange for other crypto-assets or for payments in blockchain games. Even then, steiblcoin will gradually gain traction in areas such as money transfers and micropayments.

Stablecoin from PayPal has every chance to join the list of the most popular stablecoins in the future.

PayPal itself has a developed infrastructure and is represented in many countries. It greatly facilitates cross-border payments and speeds them up.

PayPal is actively used by freelancers and developers with international customers. Our experts believe that PYUSD will be a convenient way for them to get paid. It is also interesting that PayPal by the readiness of its infrastructure bypasses many central banks that are just trying to develop digital national currencies (CBDC). In other words, we are witnessing the emergence of a corporate currency that has a chance to become a significant player in the currency market, displacing central banks.

PayPal is one of the global payment giants, so we would like to believe that the future of PYUSD is very bright. At least due to the support of 430 million users of the platform.

Pay Pal and cryptocurrencies

PayPal has been supporting transactions with cryptocurrencies for some time now. And allows users to store such of them as Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH) and Litecoin (LTC). In its earnings report for the first quarter of this year, the company said it stores about $1 billion worth of cryptocurrencies for its customers.

Since last year, users have been able to transfer cryptocurrency from PayPal accounts to third-party wallets. The company also invests in blockchain startups. And that includes recently leading a $52 million investment round for Magic. Which provides infrastructure for integrating digital wallets into online services and enterprise projects.

PayPal co-founder Peter Thiel’s Founders Fund venture capital fund began investing in Bitcoin back in early 2014. Shortly before the collapse of the crypto market in the spring of 2022, the fund sold almost all cryptocurrency assets, earning about $1.8 billion.

In 2021, it first became known that PayPal began looking for developers to create its own dollar-stablecoin. Despite regulatory scrutiny, problems over the BUSD issue, Paxos remained PayPal’s launch partner for the steblecoin. The company said the partnership was a milestone for the entire industry.

“PYUSD is a first-of-its-kind currency that represents the next stage in the evolution of the U.S. dollar on blockchain,” Paxos said.

And calling PayPal USD “the world’s most secure dollar-backed digital asset.” On the day of the announcement of the stablecoin, the U.S. House of Representatives issued a press release. And where it says that with proper regulation, stablecoins “could become the basis for a 21st century payment system in the United States.”

The PYUSD stablecoin is not yet available on cryptocurrency exchanges. And to purchase it, you must be verified on PayPal’s website.

Read More

The Bitcoin price has seen the lowest volatility in its history since June, when will that change

The Bitcoin market is in a long period of quiet. Our experts have analyzed this situation and made conclusions.

The cryptocurrency market is experiencing one of the least volatile periods in its history. And this raises doubts that noticeable jumps in the price of Bitcoin at all will take place in the future. This is what Glassnode analysts wrote in their weekly market report.

Bitcoin’s realized volatility in various month-to-year intervals has declined significantly this year, reaching multi-year lows. Volatility in the year-to-date range is at levels not seen since December 2016. According to the company’s metrics, this is the fourth such period.

The first time there was such a prolonged lull was during the bear market period in late 2015 and early 2016. The bear market of early 2018 was also accompanied by a lack of significant price swings. And in November of that year, it experienced a 50% collapse. However, this was followed by an upswing in April 2019, when Bitcoin’s price rose from $4k to $14k in three months. A prolonged consolidation also took place after March 2020, when the world adapted to the COVID-19 epidemic. Then there was a brief period of stability at the end of 2022.

Bitcoin volatility chart by Glassnode

Bitcoin volatility chart by Glassnode

The price range separating the seven-day high and low price is only 3.6%. In the history of the market, less than 5% of trading days have ever had a narrower weekly trading range. The 30-day price range is even narrower. Periods of consolidation and narrowing of a price range of this magnitude are extremely rare for Bitcoin.

Weekly lows and highs for the bitcoin price. Source: Glassnode

Weekly lows and highs for the bitcoin price. Source: Glassnode

At the same time, Glassnode notes that the number of long-term Bitcoin holders has reached an all-time high, accounting for about 15.6 million BTC (75% of coins in circulation).

What’s next for the Bitcoin price, our experts’ opinions

In general, the technical picture on the daily charts “looks positive for the “bulls”. According to our experts’ estimates, the beginning of fall will be the starting point for a new growth phase. However, now the cyclic analysis points to the advantage of “bears”. And that in conditions of low volatility constrains the market.

Last week, the BTC/USDt pair declined on the background of strong statistics on US GDP. And which gives the Fed grounds for further tightening of monetary policy in the fight against inflation. This raises concerns for investors trading risky assets.

For now, uncertainty and regulatory risks remain amid tough statements from the head of the SEC. Low trading volumes increase the probability of BTC’s decline to the levels of $27,700 – $27,900. But in case of passing the $31,800 mark, the “bulls” will be able to regain the leading position.

Read More

Making money on gold tokens

Our experts told about opportunities to invest in crypto-assets with a link to the price of gold

It’s been more than 35 years since The Economist magazine published a cover story titled “Get ready for a world currency” with the name Phoenix and the year 2018 minted on the coin. This magazine partly influenced the credibility of bitcoin and cryptocurrencies, but many people don’t know about the story until now. The first notable hype around cryptocurrencies happened just in 2017-2018. And the top of the cryptocurrency market capitalization of that period was formed on January 8, 2018. The magazine was published on January 9, 1988, it said that in 30 years people will buy goods online and all price tags will be indicated in the new world currency.

Fiat currencies aren’t going anywhere. And it will be easier for states to manage their economies. It is possible that this is what the market maker took advantage of. And after all, thanks to this magazine, many people believed that in 2018 there was a new world currency, and bought cryptocurrencies at the peak of the price.

The main Bitcoin network was launched on January 3, 2009. And today it’s 2023, and settlements are still predominantly in dollars, some continue to believe that Bitcoin will eventually become the world currency that it is. But there is another option. Our experts allow varianto that under the new world currency hides ordinary gold. But in digitized or tokenized form.

In this variant it can be divided into dust and instantly make payment. And the proof of its originality will be recorded in the blockchain. We, on the other hand, believe in the value of the Tether USD (USDT) stablecoin today. And which is issued in this way, on the blockchain and backed by real financial instruments.

News is emerging that the BRICS countries are going to launch their own currency.

And some sources believe that it will be pegged to the value of gold or backed by gold reserves. In such a case BRICS comes to exchange of goods and resources. And it is practically a barter system of settlements between the countries. Gold will act as a unit of measurement in mutual settlements. Thus, everything will return to the original idea, when the dollar was backed by the gold reserve.

The blockchain organization with DPoS (Delegated Proof-of-Stake) consensus is most suitable for building such a payment system. This consensus algorithm was first developed by Dan Larimer in 2013 for his BitShares project. The DPoS protocol is also referred to as a form of “digital democracy”. The difference between DPoS and the Proof-of-Stake (PoS) algorithm. And on which Ethereum (ETH) or Cardano (ADA) operate, is the separation of network participants into block producers and voters. If we project this idea into the form of a supranational digital currency. And it will turn out that citizens of countries choose the government. And the government sets up a node to validate transactions. Sooner or later, elections will also take place on the blockchain, and such a consensus will become more transparent.

For such a payment network, for example, the architecture of the EOS cryptocurrency would fit well. But it is clear that the government will not use the blockchains of existing cryptocurrencies.

The new currency will probably be backed by commodities or raw materials. Not the growth of any one country’s economy. It will be a separate network where each BRICS member will hold a node (node) of the network. When the consensus will be that even if one participant (node) of the network confirms a transaction (without considering the sender). And all others are against it, and such a transaction goes through, it will be called a multipolar world. In such a network, money will not be frozen by the decision of just one party, as in the case of the dollar or the euro. This would be the creation of a new model, where the old one would simply become obsolete and cease to be popular.

Investment option

Since the 2008 crisis, central banks have been actively buying gold. This has only happened once in history, before the dollar was decoupled from gold.

Today, you can buy tokenized gold, such as PAX Gold (PAXG). Each token is backed by one troy ounce of London gold in 400 ounce bars stored in Brink’s vaults. If you own PAXG, you own the underlying physical gold. And held in the custody of the Paxos Trust Company. Tether also issues tokenized Tether Gold (XAUt), but it is less trusted.

Our experts believe that gold is a more promising instrument for value saving in the coming years.

Gold is trading at $1930 an ounce today. Short-term we expect growth up to $2390.

Read More

Hong Kong has issued the first license for retail cryptocurrency trading

Cryptocurrency exchange HashKey Exchange has been authorized to provide services to retail investors in Hong Kong

Cryptocurrency exchange HashKey Exchange has become the first company in Hong Kong. Which has been licensed under the region’s new licensing regime. And which allows cryptocurrencies to offer retail services.

HashKey has been granted Type 1 (securities transactions) and Type 7 (automated trading services) licenses. And can now serve retail investors in the region, the company said in a statement.

On April 27, the Hong Kong Monetary Authority (HKMA) issued a circular to banks to clarify the rules for opening accounts for cryptocurrency companies. The document clarifies how banks should conduct customer due diligence (CDD).

On June 1, 2023, Hong Kong introduced a new licensing regime for companies providing cryptocurrency trading services.

Our experts note that at the end of June, the Hong Kong unit of British bank HSBC allowed clients to trade shares of cryptocurrency ETFs. It was noted that the purchase of shares of four cryptocurrency exchange traded funds will be available to users through official trading applications.

Hong Kong’s first official crypto exchange HashKey Exchange will not provide services to users from 34 countries. Also including Russia, Iran, South Africa and Myanmar

The exchange does not restrict access to clients from the USA, Japan, China and a number of other countries. But on condition that they live in the territory of states where the circulation of digital assets is not restricted. They will have to confirm their location address and phone number during the verification procedure.

From the user agreement also became known that the processing of payments for the HashKey Exchange is engaged in the Asian division of the bank JPMorgan Chase. And one more partner bank will become ZA Bank in the future.

Read More

4 promising altcoins for medium-term investments, opinion of Crypto Upvotes experts

Today, let’s consider the idea of investing in four altcoins. Each of the presented options has a fairly high capitalization.

And volatile technical model and are real active projects. The assets are also traded on large centralized exchanges. So why invest in altcoins. And not to buy Bitcoin  or ETH? There are quite a lot of reasons, let’s highlight the main ones:

  • Moving away from the classic concept of buying market leaders;
  • Achieving more meaningful financial results due to volatile asset models;
  • Portfolio diversification;
  • Striving to “beat the market” in terms of returns;
  • Some altcoins are near historical lows, which increases the calculated mathematical expectation of the transaction.

All of the above points lead to one goal – to increase portfolio returns by acquiring volatile assets.

Filecoin (FIL)

30th place by market capitalization. Up to 40% of the crypto portfolio. In 2023, the price approached the $2.3 multi-year lows twice. Each test of the level resulted in creation of trend source – market maker’s position to buy. The source consolidation level is $4.3 and is equal to current prices. From a technical point of view, this is a great time to buy the asset.

After the breakdown of the $9 level, the price will move into the global growth phase with the aim of reaching the locked volume (market maker’s position to sell) – $24. And then to the range of $35 – $41.5, where it is necessary to close the position.

Thus, the trade would look as follows:

  • Buying at current prices ($4.4)
  • Take Profit (TP) $35 – $41.5
  • Stop Loss (SL) $2.2
  • Expectation up to x10

VEChain (VET)

38th place by capitalization. This is one of the altcoins that is suggested to buy up to 20% of a cryptocurrency portfolio.
This technical combination is the basis for the formation of a position in the asset with the main goal of reaching the locked volume of $0.076. Based on which, we can plan the trade as follows:

  • Buying at current prices ($0.0186)
  • TP $0.076
  • SL $0.013
  • Expectation x4

EOS (EOS)

52nd place in Crypto Market Capitalization. This is one of the altcoins that is suggested to buy up to 20% of a cryptocurrency portfolio.
The technical picture of the asset differs from the previous ones. Mainly by the fact that the source of the trend is just forming in the market. And as a consequence, it is possible to form a position at the beginning of a growing cycle.

It is possible to enter the deal both at current prices ($0.744). And in case of decrease to the level of $0.69. It is also possible to consider a combined option – to enter the deal at current prices. And on the part of the capital allocated for this asset, and after the decrease to gain on the rest. Thus, it will be possible to utilize all allocated funds for this asset. And form a position with a low average purchase price.

After exceeding the level of $0.832, the source will be considered fixed. And the asset will move into the growth phase with the targets of $1.36, $2.75, $5.

The trade will be as follows:

  • Buy at current prices
  • Extra at the decrease to $0.69
  • TP $1.36, $2.75, $5
  • SL $0.48
  • Expectation up to x6.7

Dash (DASH)

93rd place in capitalization. This is one of the altcoins that is suggested to buy up to 20% of a cryptocurrency portfolio.
At the moment, a trend source is being created. At this stage, a position with a low average purchase price can be formed.

Transaction structure:

  • Purchases at current $31
  • Additional at the decrease to $28.6.
  • TP: $68, $126, $215
  • SL: $20

Disclaimer:

Crypto-Upvotes does not provide investment advice. This material is for information purposes only. Cryptocurrency is a volatile asset that can lead to financial losses.

Read More

Cryptocurrency trading bots in Telegram have conducted transactions worth almost $200 million in a few months.

Our experts talk about the new trend in the crypto market and the associated risks of trading through Telegram bots

Trading bots in the Telegram messenger have quickly gained popularity among cryptocurrency traders. And those who prefer trading assets on decentralized exchanges (DEX). They are easier to use for quick and more precise trades. And skipping not the most user-friendly interface of blockchain-based trading platforms. However, the convenience of bots comes at the cost of trusting such bots with access to investors’ wallets.

Based on predetermined rules, having received a message, bots can recognize trading commands. And interpret them and then promptly execute trades on decentralized exchanges such as Uniswap. When first launched, the bot creates a wallet for the user. And providing him with access keys, after which funds need to be deposited into that wallet to start trading.

Bots also give a set of useful tools such as limit orders. And copy-trading (automatic copying of trades of given addresses) and so-called token sniping – tracking the appearance of new tokens on the Ethereum blockchain with automatic purchase. The bots have their own tokens, and rising prices are creating a speculative frenzy around them.

Unibot, launched in May this year, is considered the obvious leader in terms of the number of users and trading volumes

Its own token, UNIBOT, rose in value by more than 50% over the past week. And since its launch, it has increased in value almost 50 times. The demand for the token is supported by the fact that it must be held to pay trading commissions. However, 40% of these commissions are returned to users and are distributed proportionally to the number of tokens held by all owners.

The daily trading volume of the UNIBOT token at the time of publication exceeds $10.5 million, according to the aggregator CoinGecko. The site has a separate section for tokens of Telegram bots. And their list already numbers in the dozens – the developers are obviously trying to repeat the success of the pioneer and capitalize on the new market narrative.

Other popular bots include Swipe, WagieBot, Bolt and others. According to Dune Analytics, since May, more than 63,000 users have made transactions totaling about $193.7 million using bots, with Unibot accounting for the vast majority of the transactions. And more than $1 million in commission refunds have been distributed to bot token holders.

When making transactions on decentralized exchanges, users have to constantly log into their wallet. And check the correctness of information about tokens and face high commissions. At the same time, they still have full control over their own assets and do not need to entrust their wallet keys to a third party.

The appeal of trading bots is likely due to their ease of use compared to platforms. And which run on smart contracts. That said, users are forced to trust the wallets. And which are created inside the bots, with the condition that the bots have full access to them.

Safety and risks of Telegram bots

Despite the surge in popularity of trading bots. Security experts are critical of their approach to user assets.

In a comment to The Block, former Microsoft security chief Christian Seifert calls the emergence of trading bots in Telegram a “scary development.” And at the same time referring to their closed source code and the need to share wallet keys with them. In his opinion, this can be more dangerous than transferring funds to dubious crypto exchanges or to the addresses of unverified smart contracts. “In the second case, at least you can limit the level of access to funds. With bots, you are essentially just trusting them with your funds and hoping they won’t misappropriate them,” the expert cautions.

Yajin Zhou, co-founder of BlockSec, a blockchain security company. Similarly expressed similar concerns about the growing trend of bots on Telegram in a comment to reporters. He also talks about possible risks associated with the transfer of tokens to third-party wallets created by applications.

The high speed and ease of use of bots often comes at the cost of reduced security.

When such services automatically create a wallet for the user. There is a risk associated with permanently storing private keys inside the bot. If there is a data leak or a hack, it can turn into a disaster for bot users. After all, the bot developers themselves, often anonymous, can misappropriate user funds.

When a bot creates a wallet, it essentially creates a cryptographic key pair. The public key represents the address for incoming funds. The private key, gives access to those funds. This is what could potentially be the primary target of attackers. And who can easily withdraw assets from the wallet if it is compromised. On the other hand, if a user loses the private key without a backup, they will lose access to their assets.

Since private keys for wallets are not generated by users themselves. And their security is not always guaranteed, and this opens the door to abuse. He confidently says that in the future, unscrupulous bot developers will steal users’ funds.

Our experts note that if we draw parallels with past periods of excitement around memcoins or DeFi-tokens promising quick profits. Most of them turned out to be outright fraudulent projects. And that “countless investors” suffered.

Read More