FARM is the native cryptocurrency of the Harvest Finance platform, a decentralized finance (DeFi) protocol focused on yield farming and automated liquidity provision. Launched in 2020, Harvest Finance aims to optimize yield farming strategies, allowing users to earn passive income by providing liquidity to various DeFi protocols.
The FARM token plays a crucial role in the Harvest Finance ecosystem. It is used for governance, giving holders the ability to vote on protocol changes and upgrades. Additionally, FARM tokens are earned by liquidity providers as rewards for contributing to the platform's liquidity pools. This incentivizes users to participate actively in the ecosystem.
Harvest Finance is designed to streamline the yield farming process, reducing the complexity and time commitment usually associated with managing multiple farming strategies. By aggregating yields from various protocols, Harvest Finance maximizes returns for its users, while the FARM token ensures that the community has a say in the platform's future.
#makercontent #BinanceBlockchainWeek #solana #Binance #BTC $FARM The value of FARM is influenced by the overall performance of the Harvest Finance platform and its adoption within the DeFi space. As the DeFi sector continues to grow, FARM's role in facilitating efficient yield farming and its governance function make it a significant player in the evolving landscape of decentralized finance.
Whales know that due to their huge capital, they cannot throw $10M onto the market in just one transaction.
Such large transactions would cause an immediate price pump or dump.
This would signal to everyone that a major player has bought or sold the token.
Their main goal is to stay undetected while accumulating assets.
To avoid detection, large players use their capital to maintain prices at certain levels.
At the same time, they acquire a significant number of tokens through numerous small transactions.
Let's quickly sum up actions of smart money:
Phase 1 : Buy at specific levels within trading ranges.
Phase 2 : Sell at higher levels to take profit.
Now, you'll explore some price manipulation techniques used by these pros:
① FVG (Fair Value Gap) manipulation:
Fair Value Gaps are powerful tools that traders use to identify market imbalances and inefficiencies.
FVGs happen when buying or selling pressure causes significant price movements, creating gaps on price charts.
Over time, the price tends to move towards closing the FVG.
This makes it a reliable support or resistance level.
Here are some details:
➬ The big player doesn't benefit when many people profit. ➬ Smart money is always thinking about how they can deceive traders. ➬ After a pump, the price tends to roll back. ➬ So that those who entered after the FVG formation closed their positions.
How it can be useful for us:
Wait for the impulse and identify the gap between the 1st and 3rd candles.
Also remember simple principles: ~ Short FVG acts as resistance. ~Long FVG acts as support.
② Range manipulation:
Artificially created situation.
The aim is to reduce participation in the actual price movement by pushing the price in one direction, leading some traders to exit with losses.
Here are some details:
➬ Consolidation cannot last forever. ➬ After 4-5 touches of the top or bottom lines, they're usually broken. ➬ However, when the price hits a breaking point but then returns, it's considered manipulation.
How it can be useful for us:
Once the manipulation has occurred, it establishes a robust support or resistance level that influences how the price reacts.
If you found this article helpful, don't forget to:
Gold-Backed PAXG Token Spikes to $2.9K Amid Geopolitical Tensions
PAXG spiked as high as $2,923 on Saturday, trading at premium of over 20% to gold's per ounce price of $2,342.90 on Friday.
Bitcoin traded at a perfect negative correlation to PAXG in a sign of weak demand as a geopolitical hedge.
Prices for PAX Gold {{PAXG}}, a gold-backed digital asset created by Paxos, surged over the weekend as escalating geopolitical tensions in the Middle East catalyzed demand for haven assets.
PAXG rose as high as $2,923 on Saturday, trading at a premium of over 20% to the yellow metal's per-ounce price of $2,342.90 at Friday's New York close, CoinDesk data show. As of writing, PAXG still drew a notable premium, trading at $2,471.
Meanwhile, bitcoin and other major cryptocurrencies traded under pressure as Iran fired explosives at Israel in retaliation for a suspected Israeli attack on its consulate in Syria on April 1. On Sunday, Iran warned Israel and the United States of a much larger response after Tel Aviv said it would respond to Iran's retaliatory aggression.
With a market capitalization of over $446 million, PAXG is the world's second-largest tokenized gold coin. Leading the pack is tether gold (XAUT) with a market capitalization of $581.9 million. PAXG's weekend surge did not spill over into XAUT and other gold tokens. CoinDesk reached out to Paxos for comment and awaited a response at press time.
Gold has surged over 8% in four weeks, while bitcoin has declined by 10%. On Friday, analysts at Goldman Sachs raised its year-end price forecast for gold to $2,700 from $2,300, saying that momentum and retail investors haven't yet piled into the yellow metal.
Leading indicator
Several traditional market participants closely followed PAG's spike and BTC's slide over the weekend, wondering if the classic risk-off action in the 24/7 crypto market was a sign of things to come in stocks on Monday.
"And so now everyone who isn't involved in crypto is watching BTC to gauge the market impact of war cuz it's the only thing that's open when drones fly," Andy Constan, founder of macroeconomic research firm Damped Spring, said on X.
Former Bridgewater Executive and CIO of Unlimited Funds Bob Elliot said BTC's perfect negative correlation with PAXG over the weekend dented the leading digital asset's appeal as a geopolitical hedge.
"Bitcoin may be many things, but it is not a geopolitical hedge. This weekend was another good empirical test. BTC traded with a near-perfect negative correlation over the last day to PAXG, a gold-backed token. If anything it's becoming an even worse hedge over time," Elliot said on X.
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