• The Blur protocol has seen a massive spike in its TVL as more people become interested in the protocol.
• OpenSea has been able to outperform Blur in terms of daily activity, despite the growth of Blur.
• The success of blue chip NFTs such as BAYC and MAYC have helped contribute to the growth of both marketplaces.

Introduction

This article discusses the recent growth seen by the Blur protocol and how it has impacted OpenSea’s market dominance. It also highlights how successful blue chip NFTs such as BAYC and MAYC have contributed to this growth.

Blur’s TVL Witnessed a Huge Spike

Delphi Digital reported that the TVL for Blur managed to reach an all-time high over the last month. Despite this, OpenSea was still able to have more daily active users on its network, as per Token Terminal’s data. It is hypothesized that wash trading might be playing a role in Blur lagging behind in this area.

OpenSea Outperforming Blur

At press time, OpenSea managed to capture 46.1% of all NFT trades made in the ecosystem, with Blur coming in at second place with 42.5%. This indicates that both platforms are experiencing considerable amounts of growth due to their success in marketing blue chip NFTs.

MAYC Collection Doing Well

According to data provided by NFTGO, it can be observed that the average price of the MAYC collection increased by 10.73% over the last three months while its volume went up by 222.79% within 24 hours. This indicates strong demand for these collections within the community.

APE Token Struggling

Unfortunately, not all tokens related to blue chip NFTs are doing well – like APE token associated with MAYC collection which saw its price fall significantly along with its network growth over last month which implies lack of interest from new addresses towards APE token according to Santiment’s data .

• Polkadot (DOT) has been siding with the bulls recently, registering an almost 17% hike in the last seven days.
• Deutsche Telekom bought a large amount of DOT tokens in December 2021, and its subsidiary T-Systems Multimedia Solutions also purchased a large number of tokens to help groups staking on the Polkadot network.
• The Polkadot team recently released updates on their Roadmap Roundup, aiming to reduce the duration of parachain blocks to six seconds and increase the amount of block space available by a factor of 5-10.

Background Information

Polkadot is a proof-of-stake blockchain that raised over $144.3 million through an ICO held in October 2017. DOT was trading at around $6.30 in August 2020 and remained volatile throughout 2020, reaching an all-time high of $55 in November 2021 before dropping below $6 during the crash in early 2022. The Polkadot team recently released updates on their Roadmap Roundup, aiming to reduce the duration of parachain blocks to six seconds and increase the amount of block space available by a factor of 5-10. In December 2021, Deutsche Telekom bought a large amount of DOT tokens while its subsidiary T-Systems Multimedia Solutions purchased more tokens to support staking activities on the Polkadot network.

Market Performance

Polkadot has been capitalizing on the bullish sentiment seen across other markets lately. It registered an almost 17% hike over the last seven days and is currently trading at just above $6 after hitting an all time high value back in November 2021 at $55 per token. Despite Ethereum emerging as serious competition for Polkadot, Robert Habermeier – Co-Founder – claims he’s happy to see Ethereum transition from PoW to PoS mechanism, viewing Polkadot as „ETH collaborator.“

Asynchronous Backing

The Asynchronous Backing update aims to reduce the duration of parachain blocks to six seconds, increase block space available by a factor 5-10 and allow blocks that don’t make it onto relay chain first try be reused. This is evidence for consistent level development activity around project such as Bifrost announcing liquid staking via Polkadot blockchain on Twitter or transactions per second capacity increasing up 100 000 – 1 000 000 thanks upgrade.

Deutsche Telekom Investment

Deutsche Telekom made notable investment into polka dot ecosystem when buying large amount DOT tokens in December 2021 . Subsidiary company T Systems Multimedia Solutions followed suit with additional purchase helping out groups staking network .

Price Predictions for 2023/24

Currently polka dot still pretty volatile with market performance largely depending other crypto trends . Price could go either way but due recent investments from Deutsche telekom , progress roadmap roundup , higher transaction capacities more optimistic scenarios are more likely long run .

• The U.S. SEC rejected investment manager VanEck’s application to create a spot Bitcoin exchange-traded product (ETP).
• The SEC alleged that no exchange has demonstrated its fund’s resilience to fraud.
• Commissioners Mark Uyeda and Hester Peirce criticized the Commission’s decision.

VanEck’s Application Rejected by U.S. SEC

The United States Securities and Exchange Commission (U.S. SEC) yesterday rejected the investment manager VanEck’s application to create a spot Bitcoin exchange-traded product (ETP), reported Reuters. Commissioners Mark Uyeda and Hester Peirce immediately issued a statement criticizing the Commission’s decision not to approve the listing and trading of VanEck’s product on the grounds that since there is no underlying regulated market, VanEck does not have a comprehensive surveillance-sharing agreement with a regulated market of significant size related to spot Bitcoin.

Previous Denial for Cboe BZX Exchange Proposal

When Cboe BZX Exchange applied to the SEC last month to list Wise Origin Bitcoin Trust, it was also denied due to inadequate information provided by the exchange in demonstrating that its fund is designed to prevent fraudulent and manipulative acts as well as protect investors and public interest from any cross-market pricing differences caused by arbitrage across different Bitcoin platforms.

SEC Requirement for Market Surveillance Agreement

For months, the SEC delayed making a decision on VanEck’s current, and third, application for an ETP until recently when it concluded that since there is no underlying regulated market, VanEck does not have a comprehensive surveillance-sharing agreement with a regulated market of significant size related to spot Bitcoin which meets its criteria for approval of any commodity-based ETPs listed on exchanges.

Criticism from Commissioners

Commissioners Mark Uyeda and Hester Peirce criticized this decision citing that they had previously not required any connection between the spot and futures markets for other commodity-based ETPs while stating that “the Commission is using a uniquely burdensome definition of ’significant‘ in its analyses of spot Bitcoin ETP filings“.

In conclusion, as authorities begin controlling crypto markets further, it may take some time before approval can be granted for crypto spot ETFs listing on exchanges due to stringent requirements imposed by regulators such as providing evidence demonstrating funds’ resilience against fraud or manipulation which requires an extensive surveillance sharing agreement with an adequately sized relevant market.

• Bone ShibaSwap [BONE] was recently in the limelight as it entered the list of top 100 cryptocurrencies by market capitalization.
• However, BONE’s rank has since declined and is currently at the 104th position.
• BONE’s on-chain metrics suggest that its adoption has increased, but its price is declining and whales‘ confidence in the token is waning.

Bone ShibaSwap [BONE] Price Analysis

Bone ShibaSwap [BONE], a token in the Shiba Inu [SHIB] ecosystem, was recently celebrated for entering the list of the top 100 cryptocurrencies in terms of market capitalization. The hype around this token got a further push when Crypto.com announced that it had listed BONE on its platform. However, BONE’s rank has since declined and is now at the 104th position in terms of market capitalization.

Price Performance

CoinMarketCap’s data reveals that BONE has not had a comfortable week as its price registered a decline of more than 19% over the past seven days. At press time, it was trading at $1.58 with a market capitalization of over $363 million. Despite this price dip, BONE’s on-chain metrics have been commendable over recent weeks including an increase in gas used by its contract which implies increased usage for this token.

Exchange Flows

A look at BONE’s exchange flows suggests that the overall sentiment towards this asset is bearish. Exchange inflow for BONE spiked while exchange outflow declined which indicates an advantage to sellers rather than buyers. Additionally, whales’ confidence in BONE appears to have decreased as supply held by top addresses went down last week.

Price Prediction 2023-24

As per CoinCodex’s Bone ShibaSwap [BONE] Price Prediction 2023-24 report, experts anticipate that BONE’s price will go up to $3 during 2023 and reach $5-$6 mark by 2024 if everything goes fine with SHIB adoption rate increasing significantly during next months and years to come.. However, given current bearish sentiments related to SHIB investors might be worried about their investments going forward.

Conclusion

Despite an increase in adoption for Bone ShibaSwap [Bone], its overall health doesn’t seem to be great according to current exchange flow and whale activity metrics . Although there are certain optimistic predictions regarding Bone’s future performance , investors should always do their own research before investing .

• Binance acquired a 50% stake in Gopax, a South Korean crypto exchange, on 23 February as part of their strategy to gain a foothold into the country.
• South Korean authorities have expressed concerns about Binance taking over and potential money laundering and financial crimes through unverified coins that are listed on the exchange.
• Despite these challenges, Binance recently announced the launch of Binance Pay in France through a collaboration with global payments provider, Ingenico.

Binance Acquires 50% Stake in South Korean Exchange Gopax

Binance has taken steps to expand its presence in South Korea by acquiring a 50% stake in Gopax, a native crypto exchange. This move is part of Binance’s strategy to gain a foothold into South Korea. Leon Gong, the former Asian Pacific representative of Binance recently took over as Gopax’s new CEO.

Regulatory Concerns Regarding Money Laundering

South Korean financial authorities are concerned about this move and worry that it could pave the way for money laundering and financial crimes through unverified coins that are listed on the exchange. They have reviewed alternative regulatory measures for Gopax after changes caused by Binance’s involvement. For Binance to maintain operations in the country they will need to conform to these regulatory requirements.

Binance Launches Pay in France

In spite of these challenges, Binance continues to make headway elsewhere and recently announced the launch of Binance Pay in France through a collaboration with global payments provider, Ingenico. This partnership enables users to pay with crypto through #Binances Pay which is another milestone for global crypto adoption.

BNB Struggles To Bypass Resistance

• Ripple [XRP] traded within a range and the bulls forced a bounce from the mid-range mark at $0.37.
• The VPVR tool showed the Point of Control (red) to lie at $0.387, with stiff resistance ahead for XRP at $0.395.
• Stalled Open Interest suggested sentiment remained bearish, with nearly $2.3 million worth of long positions liquidated on 13 February.

Introduction

This article provides an analysis of Ripple’s [XRP] price action. It looks at the key levels that may prove to be resistances and considers evidence from volume profile and open interest data to assess market sentiment.

Bounce From Mid-Range Mark

Ripple [XRP] traded within a range and the bulls forced a bounce from the mid-range mark at $0.37. While this bounce inspired lower timeframe bullish momentum, the evidence at hand showed that $0.395 could pose stiff resistance to the price. Hence, XRP buyers from the $0.37 area can use a test of the $0.38-$0.39 area to take profits. Thereafter, a breakout upward or a rejection will reveal the direction of the next move.

VPVR Tool Analysis

The VPVR tool showed the Point of Control (red) to lie at $0.387 as well as horizontal long-term significance level above it at $0.395, suggesting that stiff resistance lies ahead for XRP’s price action in this zone and any buy orders placed around $ 0 .37 could be sold around this area if needed..

Sentiment Remains Bearish

Stalled Open Interest indicated sentiment remained bearish with liquidation data showing nearly 2 .3 million worth of long positions being liquidated on 13 February following Ripple unable to break out past its range highs in February which saw its price drop to mid-range mark ($ 0 .37).

Conclusion
In conclusion , while lower timeframes show bullish momentum building up , higher timeframe structure remains bearish . The VPVR tool showed stiff resistance ahead for XRP around$ 0 . 395 , suggesting any tests taken by buyers may not be successful in breaking through this level . Furthermore , stalled Open Interest suggests that sentiment remains bearish despite recent price movements .

• The Sandbox saw an influx of nearly 82 million tokens into exchanges in recent days.
• The upcoming token unlock event might be a motivating factor for the increase in price.
• According to metrics, The Sandbox is overvalued and this presents an opportunity for sellers to make profits.

Recent Inflow of SAND Tokens

The Sandbox witnessed close to 100 million tokens entering various exchanges in recent days. This could be due to the upcoming token unlock event that might have motivated investors to sell their tokens. Moreover, The Sandbox [SAND] has seen a significant increase in value at the start of 2023, but its price movement has slowed down recently.

NetFlow Indicator & Exchange Flows

A review of several crucial indicators revealed that some major events regarding the game token might take shape. According to the NetFlow indicator and data collected from Glassnode, it was observed that there was more inflow than outflow; with nearly 82 million tokens transferred by investors onto different exchanges for selling purposes.

Zig-zag Price Movement on SAND

As per analysis done on a daily timeframe of The Sandbox’s [SAND] performance, it was noted that there were high lows being formed. At press time, SAND had gained 1%, trading at $0.71 while having dropped 8% prior to the session. Despite this bull trend being weak as per RSI line (just over 50), there were certain concerns raised due to the drop and massive influx into exchanges.

Token Unlocks & Profitability

• Lido Finance [LDO] surpassed MakerDAO [MKR] to become the biggest DeFi protocol in January 2021.
• The total value locked (TVL) of Lido’s smart contracts went past $8 billion in the same month.
• Despite its success, the native token was down 5.82% at press time.

Lido Finance Becomes Biggest DeFi Protocol

In January 2021, Lido Finance [LDO] overtook MakerDAO [MKR] to become the biggest decentralized finance (DeFi) protocol, according to DappRadar. The total value locked (TVL) of its smart contracts also crossed $8 billion during this period, showcasing a growth of over 36%. This surge in activity could be attributed to liquid-staking protocols becoming increasingly popular following Ethereum’s transition to the Proof-of-Stake algorithm.

ETH 2.0 Behind Growth?

As per DefiLlama, ETH tokens locked with Lido Finance surged by 30% in January due to the increasing staking activity. This rise can be attributed to Ethereum developers confirming the roll out of Shanghai Upgrade as users had an opportunity to earn rewards for their locked tokens. Data from IntoTheBlock revealed that ETH staked with Lido Finance was over five million at press time. Moreover, supply side fees or rewards accrued by stakers increased more than 30% while earnings jumped by 65%.

Competition From Centralized Exchanges

However, there were some worrying developments as well such as Lido’s diminishing market share in ETH staking market which currently stands at 29%, according to Dune Analytics. Additionally, it faces competition from centralized exchanges like Coinbase which could affect its TVL going forward.

LDO Price Prediction 2023-24

Despite this feat and potential for further growth, LDO’s native token saw a downward trend and dipped by 5.82% at press time with a substantial drop in trading volume too. Technical indicators such as Relative Strength Index (RSI) also showed bearish divergence with price for most part of January and was just above neutral 50 level when last checked..

Conclusion

Overall, despite achieving a big milestone and being on course for further growth ,the outlook wasn’t very positive for LDO’s native token . It still faces stiff competition from centralized exchanges and is losing its market share in ETH staking market . Nevertheless , it remains lucrative for stakers due to high rewards offered .

• Coinbase has introduced transaction previews and blocklists to increase cryptocurrency security in response to a rise in thefts.
• These features inform users of the expected change in their token and NFT balances before confirming a transaction.
• Other cryptocurrency wallet providers, such as Phantom, Ember, and Bitski, have either launched or announced similar features to protect against scams and phishing attacks.

In recent months, the world of cryptocurrency has seen a surge in thefts, causing many exchanges and wallet providers to reassess their safety protocols. One of the most recent developments comes from U.S.-based cryptocurrency exchange Coinbase, which has rolled out transaction previews and blocklists to increase the security of its wallet software.

On 30 January, the company announced that it had added new features to its wallet software to make it simpler for customers to recognize and respond to suspected wrongdoing from scammers. This includes a transaction preview feature which informs the user of the expected change in their „token and NFT balances“ before they press the confirm button. Additionally, they have implemented token approval alerts, which inform users when a dApp requests permission to withdraw tokens and NFTs.

To further reduce exposure to potential vulnerabilities, Coinbase has added new layers of permission control that allow users to revoke dApp connections directly from the app. This puts them in line with many other cryptocurrency wallet providers such as Solana [SOL]-based Phantom, Web3 wallet provider Ember, and Bitski, all of which have either launched or announced similar capabilities targeted at preventing cryptocurrency scams and phishing assaults.

On 27 January, Phantom reminded users that its wallets are protected with several security features, including transaction previews, an open-source blocklist, NFT spam reporting, and burning. This was only two days after Moonbirds creator Kevin Rose acknowledged losing $1.1 million in NFTs because of a targeted phishing attack.

The introduction of these new safety measures by Coinbase and other wallet providers shows a commitment to protecting users from cryptocurrency scams and thefts. These features enable users to take control of their assets and transactions, creating a more secure environment for them to store and trade cryptocurrencies.

Summary:
• Uniswap’s [UNI] rally in January offered 43% gains so far.
• UNI formed an ascending triangle, with a potential bullish breakout.
• Open Interest rates of UNI have increased, indicating a positive change in investor sentiment.

Uniswap [UNI] Price Prediction 2023-24

Table of Contents

• Introduction
• UNI’s January Rally
• Ascending Triangle Formation
• Improved Investor Sentiment
• UNI Price Prediction

Introduction

Uniswap [UNI] is one of the leading decentralized exchanges (DEX) and has been making headlines since its launch in September 2020. The altcoin has surged over the past few months and recorded an impressive 43% gain in January 2021. The UNI/USDT pair is currently trading at $7.109, and the token has a market capitalization of $7.8 billion.

UNI’s January Rally

The altcoin started the month at $4.963 and surged to $7.109 at the time of publication. This marked an impressive gain of 43% in just one month. Bitcoin [BTC] has also been in an uptrend, and the king coin was threatening to close above $23.5K on the lower timeframe charts. This could further boost UNI’s price action as BTC continues to surge.

Ascending Triangle Formation

UNI’s price action has been following an ascending triangle pattern since January 10. The pattern is usually considered as a bullish sign, and UNI could break out of the pattern if BTC rallies above $23.5K. The target level for the bullish breakout is $7.725, which is also a pre-FTX level. This would see UNI gain over 10% if the target is reached.

Improved Investor Sentiment

According to Santiment data, UNI’s weighted sentiment has improved and was close to touching the neutral line. This shows investors‘ outlook on the DEX asset has improved over the past few days, which could bolster its uptrend momentum. Additionally, there has been an uptick in open interest rates, indicating more money is flowing into the UNI’s futures market.

UNI Price Prediction

UNI is highly bullish on the 12-hour chart, with the Relative Strength Index (RSI) valued at 60. This suggests that a bearish breakout could be highly unlikely. Low trading volumes, as indicated by the On Balance Volume (OBV), could delay the uptrend in the short term. But if BTC reclaims and surges above $23.5K, UNI’s trading volumes and buying pressure will increase.

Overall, UNI looks set to end the month in the green, with the potential for further gains in the near future.