Focus op DeFi ‘fairness’ komt Holochain ten goede, Orion Protocol en Dodo

Bitcoin's (BTC) strong bull run and the immense popularity of the decentralized finance space have attracted several new investors to cryptocurrencies. A report from Crypto.com shows a massive increase in crypto users as the figure rose from 66 million in May 2020 naar 106 million by January this year.

Crypto-marktgegevens dagelijkse weergave. Bron: Coin360

Contrary to the popular notion that new crypto users are mostly speculating on the price, data from Unchained Capital shows that investors who bought in the past three to five years are still holding and are not yet tempted to book profits.

Unlike the 2017 bull market where many low-cap altcoins rallied, the current bull trend has rewarded projects with strong fundamentals. Let’s have a look at three such tokens and also analyze their charts.

HOT/USD

Holochain (HEET) aims to provide the solution for the scalability problems which may be a limiting factor in the crypto sector. Holochain wants to give control of data and privacy back to the people, eliminating large corporations and middlemen.

To achieve that, Holo, a distributed peer-to-peer hosting platform, acts as the link between the web and the Holochain apps. Holochain wants to make this technology available to users who can access the apps in a web browser. If this needs to be done, the technology must have vast scalability, fast speeds, and it should also be financially viable. The team at Holochain believes they are on the path to achieving this goal.

As part of the process, Holochain launched an app called Elemental Chat that runs on HoloPorts. The team is also planning to enable web users to log into Elemental Chat through the HoloPort. This will put the protocol’s scalability claims to the test and help to further fine-tune the project.

The team has also outlined the progress on the upcoming milestones of the Holo suite of products that will be progressively released in the future. If the team delivers on its promises, the protocol may attract investor attention.

HOT surged from $0.0007817 op feb. 8 tot een intraday high op $0.00424 op feb. 21, een 442% rally within two weeks. This up-move had pushed the relative strength index (RSI) bovenstaand 92 op feb. 21, indicating the market was extremely overbought in the short term.

HOT/USDT daily chart. Bron: TradingView

That resulted in profit-booking on Feb. 22 en 23, which pulled the price down to the 61.8% Fibonacci-retracementniveau op $0.0021028. But the positive sign is that the long tail on the candlesticks on both days showed strong buying at lower levels.

Echter, traders who are stuck at higher levels are dumping their positions on rallies, as seen from the long wick on the Feb. 24 candlestick.

After the large intraday range of the past few days, the HOT/USD pair has formed an inside day candlestick pattern today, duidend op een evenwicht tussen vraag en aanbod. The pair may now consolidate for a few days.

Als de bulls de prijs hierboven kunnen drukken $0.00363, een hertest van $0.00424 is mogelijk. Een doorbraak van dit niveau zou het volgende deel van de opwaartse beweging kunnen beginnen $0.0055629.

Omgekeerd, als de beren de onderstaande prijs zinken $0.0028, the pair may drop to the 20-day exponential moving average ($0.0020).

ORN/USD

As the decentralized finance space grows, many new projects are being announced on a regular basis. It becomes difficult for investors to keep track of all of them. Vandaar, a liquidity aggregator that connects to several decentralized and centralized exchanges in order to swap pools and provide access from a single platform may be sought after and this is what the Orion protocol (ORN) aims to do.

The protocol plans to offer its investor’s a variety of revenue streams. The Orion Liquidity Boost Plugin offers increased liquidity to its partners and has already onboarded Polkastarter and many other blockchain projects.

Orion’s Launchpad Liquidity has partnered with DAO Marker and DuckDAO, which will enable projects launch incubated projects on the launchpad’s own platform

Orion recently launched the staking calculator, allowing ORN token holders to calculate the staking rewards and attain APY’s of up to 38%.

After launching the first phase of the Orion Terminal’s mainnet on Dec. 15, the team plans to add several features like derivatives, leveraged ETFs, contract trading, NFT's, uitlenen, margin trading and staking of any digital asset by 2021.

As more products are launched, the revenue is likely to increase and that may benefit ORN token holders.

ORN has been in a strong bull run this year. It rallied from $4.3014 op feb. 8 tot een intraday high op $15.20 vandaag, een 253% rally in iets meer dan twee weken. Als gevolg, the RSI has surged to above 91 niveaus, indicating the possibility of a short-term fall or a range-bound trading action.

ORN/USDT daily chart. Bron: TradingView

The bears tried to stall the rally on Feb. 22 en feb. 23, but the long tail and the positive closes of each day show that the bulls purchased the dips and resumed the rally.

Echter, today it looks as if traders booked profits and a retest of the 38.2% Fibonacci-retracementniveau op $11.4379 is mogelijk.

If the ORN/USD pair rises from this support level, it will indicate strong demand at lower levels. That could result in a retest of $15.20 and a breakout of this resistance may propel the pair to $20.

Aan de andere kant, een pauze hieronder $10.2759 zou de prijs kunnen verlagen tot de 20-daagse EMA ($8.21). Such a deep fall could delay the next leg of the up-move.

DODO/USD

The DeFi space has been attracting investor attention in the past few months. Echter, the growing popularity has clogged the Ethereum network gas fees have soared to unsustainable levels. Daarom, traders are searching for options that are on competing networks and charge fewer fees. Binance Smart Chain has been one of the major beneficiaries of this trend.

DODO is a decentralized exchange that uses the Proactive Market Maker (PMM) algorithm, which the team claims is better than automated market makers. DODO offers several features such as trading, aggregation, initial DEX offerings, and mining.

DODO introduced Crowdpooling in January, and this feature aims to provide equal opportunity to investors by addressing the biggest issues being faced by new projects. Als dit lukt, Crowdpooling will help prevent frontrunning, insufficient liquidity, and the high costs associated with attracting liquidity. The first phase of the DODO V2 Beta crowdfunding pool called ‘ShuttleOnewas a huge success as it was oversubscribed by 173 keer.

DODO token was listed on Binance on Feb. 19 following the DODO V2 Public Beta launch on the Ethereum Mainnet and Binance Smart Chain on Feb. 22. There are also several incentive programs available on BSC.

DODO price rallied from an intraday low at $2.788 tot een intraday high op $10 op feb. 19. The token had strong listing gains but since then, the price has been in a corrective phase.

DODO/USD 4-hour chart. Bron: TradingView

The bulls attempted to start a rebound off $3.50 op feb. 23, but the bears continue to sell on minor rallies, indicating a negative sentiment. Echter, a minor positive is that the bulls have been defending the $4.50 level for some time.

Als de prijs stijgt vanaf het huidige niveau en hierboven breekt $5.660, the DODO/USD pair may rise to $7.50. This level is likely to act as a stiff resistance but if crossed, het paar zou zich kunnen verzamelen $8.75 and then retest $10. The next leg of the uptrend may resume above this level.

Omgekeerd, als de beren de onderstaande prijs zinken $4.50, een druppel naar $3.50 is mogelijk. The selling could intensify if the $3.50 naar $2.788 ondersteuning van scheuren.

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Bron: CoinTelegraph

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