Algorithmic Yield Farming

Decentralized Finance (Defi) remains a crypto buzzword and hot topic. Despite its unwavering and unstaggering popularity. Its growth doesn’t appear to decline nor wane. Every day we continuously see new projects come out to service different sections of the decentralized finance movement. All of which are gearing towards one goal: the increase in overall usage and mass adoption to the benefits of both the users and the entire ecosystem.

Two aspects define Decentralized Finance application in the real world; Yield farming, a type of crypto-themed farming activity where users commit their token to a vault. Staking, where users can choose to lock their tokens/coins for a specific period and get rewards.

Yield Farming

The increased ability to have all of the traditional finance instruments in decentralized finance is expanding rapidly. Staking and Yield Farming, two different earning mechanisms, only with slight distinct features, is the Defi technology centerpiece. Yield farming works like the fixed compound earning attributed to centralized banking only with a decentralized entity like dapps; there is no need for bureaucracies – a centralized structure – to have transactions executed.

Yield Farming removes all of the bureaucratic bottleneck associated with a centralized structure to optimize the time it takes to earn by connecting users’ wallets with liquidity pools or vaults and specific Annual Percentage Yield (APYs). Users are thereby assured of their earning potentials.

The percentage yield offered by most Defi applications is relatively huge compared with banking institutions that provide far lesser APY and are responsible for the increasing number of users and projects providing such services. The proliferation of projects offering Yield farming operations calls for concerns about why few genuine projects are still in operation. Simultaneously, there are quite the scammy ones coming out daily with malicious intentions to rugpull.

Among the credible yield farming projects currently operational, Yield Protocol recently concluded its DaoMaker Strong Hand Offering (SHO) and took the credible position for various reasons.

About Yield Protocol

According to their website, Yield Protocol is an open-source platform deployed on the Ethereum blockchain that allows anybody to create and execute yield farming and trading strategies. 

What sets the platform apart from other solutions in the Ethereum Defi ecosystem is its design in minimizing smart contract risks by simplifying each contract’s abilities. The platform also allows anyone to design financial strategies that others can leverage without giving them access to their funds.

Multipurpose modular design allowing users to design and deploy yield farming strategies, algo trading, lending, and everything in between. These aspects of the protocol with an ever-growing arsenal of supporter protocol and pools will ensure that Yield Protocol remains the perfect solution.

DaoMaker Partnership

Yield Protocol is part of three platforms that have successfully run their token offering using the brilliant Strong Hand token Offering model of Britain-based blockchain incubator, Daomaker. As with other projects, Yield Protocol recorded a massive success and was well received by the community.

YieldShield is the first product of the Yield Protocol platform. It is an algorithmic Defi farmer that starts its development in June 2020, providing users with custom smart contract matching their risk tolerance and shield deposit value through stop loss. The team used high-level programming language for the factory smart-contract, personal smart-contract, Investing Contract, and pool contract. These Library collections allow users to interact with the platform seamlessly, providing the highest protocol aggregation to provide the best APYs to its users.

Gate and Uniswap Exchange Listing

Their partnership with Daomaker and other significant influencers in the crypto market has created hype for YieldShield within the crypto community. Now, it’s exciting to watch how the new exchange listing in Gate exchange will be received by the massive number of traders active in the China-based exchange.

According to an official tweet, $YIELD token is now listed on Gate.io and Uniswap today, March 5, at 12 PM UTC. This is very exciting for everyone, from the Yield Protocol team to the DaoMaker team to Gate.io staff to everyone who has been waiting for this moment for months.

Decentralized Finance (Defi) finds real-life applications for everyday users’ financial needs. There’s plenty of room for growth alongside the first digital cryptocurrency-bitcoin, even at such a young age. Platforms such as Yield Protocol will be among the frontline of Defi aggregators facilitating such development.

Useful Resources

Yield Protocol Listing Announcement: https://twitter.com/yield_protocol/status/1367134940278718467

Yield Protocol SHO Result by Gate.io: 

https://www.gate.io/en/article/19548/?ch=en_sm_0221

Yield Protocol Daomaker Page: 

https://daomaker.com/incubation/yield_protocol

Other Yield Protocol Details:

Website: https://www.yieldprotocol.org/

Twitter:  https://twitter.com/yield_protocol

LTC Remains in the Correctional Zone

By Dmitriy Gurkovskiy, Chief Analyst at RoboForex

On Friday, March 5th, Litecoin is correcting not far from $172.51.

As we can see in the daily chart, LTC/USD is still correcting within the ascending tendency. the current situation is as follows: after completing the correction, the asset may trade near 38,2% fibo. In the nearest future, the price may break the support level and test 50.0% fibo. The MACD histogram is below 0, thus implying that the correction continues, while its signal lines have formed a “Black cross”, which is another signal in favor of a further pullback. All these factors taken together imply that the asset may continue the correction towards 50.0% fibo, rebound from it, and then resume growing to reach $240.00.

ltcusd

In the H4 chart, Litecoin is also trading close to the support level. At the moment, we can expect a rebound from 50.0% fibo. Stochastic has formed the “Golden cross” and is currently moving towards the “overbought area”, which is another signal in favor of a further uptrend. The upside target here is $240.00.

ltcusd

Grayscale Investment has acquired 178,600 LTC over the 30 days. The sum invested in this number of crypto-coins may be about $28.9 million. The fund increased its long positions in LTC simultaneously with purchasing BTC and ETH. At the moment, the fund has a trust in LTC approximately worth $255.6 million.

At the same time, the total sum of all cryptocurrencies controlled by Grayscale is estimated at $36.9 billion. Grayscale acquires Litecoin for its clients and for the funds that are in stable demand.

It’s interesting that it was Grayscale that acquired 80% of all LTC mined in January 2021. It’s a pretty big volume, which may influence the market behavior.

Disclaimer

Any predictions contained herein are based on the author’s particular opinion. This analysis shall not be treated as trading advice. RoboForex shall not be held liable for the results of the trades arising from relying upon trading recommendations and reviews contained herein.

Bitcoin: Another Correction Stage is Over

By Dmitriy Gurkovskiy, Chief Analyst at RoboForex

The digital currency is actively recovering after a deep correction. For bulls, it was important to make the price rebound from the support area at $42,500. A lot of investors are scared by such high volatility of the cryptoasset, even hedge funds are pretty sure that the number of institutional investors, who are ready to invest in BTC, will significantly increase after these fluctuations slow down.

Citibank experts believe that there comes a crucial moment for Bitcoin and the digital asset may either become a global payment method or end up with another speculative blowout. JPMorgan specialists are very active in recommending their clients to hedge from other types of markets, such as stocks and precious metals, and invest up to 1% of their investment portfolios in Bitcoin and other digital currencies.

btcusd

In the daily chart, BTC/USD has once again rebounded from the area between Moving Averages and that’s still an indication of a bullish impulse. The previous movement from such an area resulted in further growth of the asset by more than $29,000. Possibly, this scenario may repeat this time as well and BTC may reach $72,000-75,000. Another signal in favor of this idea is another rebound from the support line at the RSI. However, the bullish scenario may no longer be valid if the instrument breaks the rising channel’’ downside border and fixes below $42,950. After that, the price may move downwards with the target at $29,135.

The current asset growth can’t even be stopped by growing criticism of the primary cryptocurrency. Bill Gates is sure that the performance of transactions in the Bitcoin network is extremely power-consuming if compared with conventional transfers, and that causes a lot of harm to nature in the long run. Rakesh Jhunjhunwala, who is called Indian Warrant Buffett, appealed for regulating authorities to ban BTC in India and said that the asset was just a speculation of the highest order.

Many investors think that the current aggressive growth of Bitcoin is just a temporary phenomenon caused by heightening interest among major investors. As far back as a year ago, Ray Dalio said that with cryptocurrencies moving higher and being accepted everywhere, these assets may face aggressive criticism as well as an eventual ban by authorities. This is exactly what we are witnessing right now.

btcusd

As we can see in the H4 chart, BTC/USD has broken the descending channel to the upside and may continue trading upwards to reach $65,000. However, one shouldn’t exclude that the pair may resume growing only after returning to the broken border. A strong signal in favor of a further uptrend will be a rebound from the support line at the RSI.

Disclaimer

Any predictions contained herein are based on the author’s particular opinion. This analysis shall not be treated as trading advice. RoboForex shall not be held liable for the results of the trades arising from relying upon trading recommendations and reviews contained herein.

Correction is XMR is not over yet

By Dmitriy Gurkovskiy, Chief Analyst at RoboForex

Monero continues correcting after the February rally. On Friday, February 26th, the cryptocurrency is trading at $197.

XMR/USD has been falling this week. In the daily chart, Monero is testing 38.2% fibo. The next correctional target within the ascending tendency may be the support at 50.0%, a rebound from which may result in a new wave to the upside. The MACD histogram, as well as its signal lines, continue moving downwards. If we take a closer look at the chart, we will see that in the nearest future the pair may form a correction, which may later be followed by a further uptrend to update the highs. In this case, the upside target may be at $290.

XMRUSD

As we can see in the H4 chart, Monero has also broken the support level. Judging by the previous movements, we may assume that the pair may continue the correction to reach the closest support at 50.0% fibo. The Stochastic indicator is falling towards the “oversold area”, while the price in the chart is getting ready to break 38.2% fibo. These factors indicate that the correctional scenario towards the support level is more likely. After completing the correction, the instrument may resume growing. the upside target here is the same as above, $290.

XMRUSD

The Monero community has raised about $150,000 as part of its proposal to add XMR as a payment method for buying Tesla cars. When Elon Musk’s Tesla hinted that it may start accepting payments in BTC for electric cars, the Monero community suggested XRM as another reliable payment option.

Since February 9th, the community has raised almost $150,000 and will strive to get Musk’s attention during a 21-day period starting that date. If Tesla accepts the initiative, the Monero will choose 3 charity organizations to get new Testa cars. At the same time, the community guarantees to refund the contributors in case the initiative fails.

Of course, the plans of Monero imply much more than an ordinary collection of money. The company would surely like to start more serious cooperation with Tesla, by offering its blockchain opportunities with confidentiality options that are unique if compared with others. The community believes that many Testa car owners might be interested in specific privacy options.

Disclaimer

Any predictions contained herein are based on the author’s particular opinion. This analysis shall not be treated as trading advice. RoboForex shall not be held liable for the results of the trades arising from relying upon trading recommendations and reviews contained herein.

Bitcoin: correction is the time to buy

By Dmitriy Gurkovskiy, Chief Analyst at RoboForex

After updating its all-time high once again at $58,350, BTC/USD has started a deep correction. A lot of traders, who bought the asset at the top, are now at a disadvantage because the slump covered over $13,000. However, investors recommend to buy at the time of significant declines, that’s why the current correction may be considered as another attractive chance to enter the cryptocurrency market.

BTCUSD

In the daily chart, the cryptocurrency has tested the fast Moving Average. Earlier, during a strong bearish correction when the price fell to $28,620, there was also a tight test of the area between Moving Averages, which was followed by a further uptrend. An important support area is between $44,800 and $42,200, where we can see the rising channel’s downside border. As a result, if the price starts moving towards this area again, it may rebound and resume growing. The closest upside target may be at $65,000.

The catalyst for the current movement of the leading cryptoasset was Elon Musk’s words about the overestimated price of both Bitcoin and Ethereum. Tesla shares also dropped pretty much and reached $618, which was the biggest plunge since September 2020. Investors started blaming the company for this slump due to its major Bitcoin purchases earlier.

Some analysts also noticed an adversarial attitude towards cryptocurrencies during Janet Yellen’s speech, which may have put significant pressure on Bitcoin and the entire cryptocurrency market. Treasury Secretary’s rhetoric was in no way different from the one of heads of other central banks as all of them are also very worried about the high volatility of BTC, as well as the fact that such assets are often used for money laundering and tax avoidance.

At the same time, former crypto-bears now acknowledge that the cryptocurrencies may skyrocket again and don’t’ want to open short positions. It was said by Bill Gate), whose current stance on Bitcoin as an investment tool is rather neutral. However, back in 2018, the famous entrepreneur was quite vocal about short in BTC. He also warned traders against blind following Elon Musk’s recommendations, saying that Musk had much more money than an average investor in the market.

Michael Burry has similar views on the growth of the entire cryptocurrency market in the short-term, but he also is not ready to open short positions even despite the risks of the government’s pressure upon these assets.

BTCUSD

As we can see in the H4 chart, recently it was the first time in February when the RSI indicator fell below 30. Earlier, such declines showed the completion of descending corrections and further rising impulses. However, we shouldn’t exclude one more descending movement towards $44,800, which may be followed by a rebound and a further uptrend. In this case, there will be potential for the formation of a Double Bottom reversal pattern, while the test of the rising channel’s downside border will be another signal in favor of new growth. Still, the bearish correction may yet continue if the asset breaks the rising channel’s downside border and fixes below $40,000. In this case, the next downside target may be at $29,000.

Disclaimer

Any predictions contained herein are based on the author’s particular opinion. This analysis shall not be treated as trading advice. RoboForex shall not be held liable for the results of the trades arising from relying upon trading recommendations and reviews contained herein.

Bitcoin Still Correcting

By Dmitriy Gurkovskiy, Chief Analyst at RoboForex

On Tuesday, February 23rd, the BTC keeps correcting, declining to 50,436 USD. It reached its peak of 57,640 USD on February 21st and has been declining since then.

On D1, the pair bounced off the resistance level and keeps declining. The aim of the pullback is 23.6% Fibo. The MACD histogram is positive, declining, which increases the chances for further correction. The signal lines of the indicator are also demonstrating an uptrend, which might enhance the correction before growth if a Black Cross forms.

XRPUSD

On H4, the pair returned to the borders of the ascending channel. The Stochastic keeps moving near 80, increasing the chances for a correction. Judging by previous price movements, we can expect it to correct to 23.6% Fibo and go on with the ascending dynamics. The aim of the growth after the correction (like on the larger timeframe) is 62,000 USD.

Elon Musk changed the avatar of his Twitter account for an anime-style “portrait” of the BTC. He promised it would be just for a day; however, just a couple of days before he used to be skeptical about the growth of the leading cryptocurrency. Sometime earlier, he stated that the BTC was just a slightly less stupid way of storing liquidity than real money. This was totally unexpected: Elon Musk, whose opinion is extremely influential in capital markets, called Tesla’s investments in crypto reckless, going quite counter his own opinion.

We can admit that Musk is manipulating the market this way – earlier, we got to know about his affection towards the Dogecoin crypto. After Musk’s publications on Twitter, the Dogecoin growth noticeably sped up.

Last week, the capitalization of the flagship cryptocurrency got over 1 trillion USD for the first time in history.

Disclaimer

Any predictions contained herein are based on the author’s particular opinion. This analysis shall not be treated as trading advice. RoboForex shall not be held liable for the results of the trades arising from relying upon trading recommendations and reviews contained herein.

XRP Price Analysis: XRP Consolidating

By Dmitriy Gurkovskiy, Chief Analyst at RoboForex

On Friday, February 19th, the XRP is consolidating, balancing near 0.5280 USD after a rather volatile week.

On D1, XRP/USD keeps correcting upon sky-rocketing. We suggest that currently, the quotations can break through 61.8% Fibo and go on declining. The aim of the pullback is 0.4495 USD (50.0% Fibo). The MACD histogram is above zero, declining, which is another signal for further correction. Upon testing 50.0% Fibo, the pair might develop ascending dynamics with the aim at 0.7100 USD.

XRPUSD

On H4, the quotations are testing 61.8% Fibo. They might break through it and head down for 50.0%. The Stochastic has formed a Black Cross near 80 and keeps declining, giving another signal for a pullback. When the correction is over, the pair might resume growth in the nearest future. The aim of the growth is the same as on the larger TF – 0.7100 USD.

XRPUSD

The representatives of Ripple and the US SEC failed to come to an agreement and settle their argument out of court. They could settle their argument out of court until February 15th, however, it has become impossible since then. Anyway, according to the document, if the parties manage to find some common points, they will let the judicial authorities know.

The argument has to do with the SEC accusing Ripple of illegally selling unregistered securities for 1.3 billion USD. The scandal “gained momentum” very quickly: several exchanges excluded the XRP from their list of available assets. Coinbase went even farther, delisting the XRP and crashing its rate.

There is yet no consensus about whether the listing of the XRP in exchanges was paid and what the company did for its token to get to trades.

Disclaimer

Any predictions contained herein are based on the author’s particular opinion. This analysis shall not be treated as trading advice. RoboForex shall not be held liable for the results of the trades arising from relying upon trading recommendations and reviews contained herein.

Venture Capital Fund Yolo Invests in Digital Marketing Specialists eCartic

Yolo Investments

 

Bitcoin Press Release: Tallinn-based venture capital fund Yolo Investments has announced a new investment in digital marketing company eCartic. 

 

18th February 2021, Tallinn, Estonia – Venture capital fund Yolo Investments has made a significant investment into digital marketing specialists and venture hub eCartic.The Estonian-based investment is a global B2B partner for disruptive companies within the eCommerce value-chain. It successfully scales across a number of verticals, turning ideas into products by using its expertise in digital marketing and branding. It also builds and markets B2C products and services. 

 

One such product, BlufVPN®️, is fast establishing itself as an innovative leader within the competitive virtual private network (VPN) market and is fast-tracked to become the number one online security product in Europe by 2025.

 

Tim Heath, GP at Yolo Investments, stated:

 

“We were hugely impressed by the level of digital marketing know-how in the eCartic team. This type of expertise is all-too-often the difference between success and failure when it comes to launching new products. Teaming up with eCartic via this strategic startup investment will not only help supercharge the company’s growth, but also adds great value to the Yolo ecosystem.”

 

Miko Salo, CEO at eCartic, said: 

 

“We knew that Yolo Investments would be the catalyst our ambitious plans needed from the very first conversation we had. The seven figure investment allows us to expedite the parallel scaling of multiple ventures, all of which provide synergies not only to each other but also support the existing Yolo ecosystem with clear added value. We look forward to creating a universe of opportunities together as eCartic and Yolo Investments.”

 

About Yolo Investments

Yolo Investments is a venture capital fund that invests in truly outstanding people with bright ideas, who are focused on innovating and disrupting the norm in all manner of tech startups. Led by Tim Heath, Yolo’s 40+ investments span the gaming and fintech industries.

 

About eCartic

eCartic is a global B2B partner for ambitious companies in eCommerce. As well as owning its own brands, eCartic partners with customers to add value via its marketing platform and other technologies. With the entire value-chain from idea to execution connected, eCartic has all the bases covered when it comes to eCommerce and digital marketing solutions.

 

Learn more about Yolo Investmentshttps://yolo.io

 

Media Contact Details

Contact Email: [email protected]

 

Yolo Investments is the source of this content. This Press Release is for informational purposes only. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. Cryptocurrencies and tokens are extremely volatile. There is no guarantee of a stable value, or of any value at all.

 

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