#SQR consolidates on Bybit.#toptraders#altcoins #Write2earn

👆 Speaking of tokens that will be issued after the launch of trading. Listings on Bybit are not far behind Binance in terms of efficiency. We paid attention to SQR - the token of the Magic Square platform.

Magic Square is a Web3 application aggregator designed to solve the problem of research and search for dApps. To be included in the verified list, the application goes through a community voting stage.

💵 For activity on the platform, users receive Karma points and subsequently a share of the daily pool of 10,000 SQR. More points can be earned by accepting hot offers from apps. The more Karma, the more SQR every day.

🧠 To prevent the token from flying straight into the glass, the team thought of several mechanisms:

🟢Staking;

🟢Access to the launchpad;

🟢Locking tokens to raise the level of membership on the platform.

⭐️ The last one looks the most interesting from the point of view of SQR support. There are currently two types of membership available: basic and plus. This week the team promises a third option - premium, where you will need to block 200 SQR.

The advantage of the plan is that in addition to boosting rewards for activity, the user receives:

🟢Higher percentage from the SQR pool;

🟢Higher allocation on the launchpad;

🟢Profitability for staking tokens on the platform itself.

🔵 There is a flywheel effect, when earned tokens will be used on the platform itself to increase rewards.

Capitalization - $19 million.

FDV - $570 million.

There is a small percentage of public and drop tokens in circulation.

Investors: Binance Labs, Crypto com, Emurgo and others.

📈 This is from the fundamental point of view, but what about the chart?

https://www.tradingview.com/x/gL3bma7S/

✅ Correction of the initial impulse brought the price into the zone of buyer interest, where consolidation began. More than two weeks have passed since the listing, so those wishing to sell drop hunters have already come out.

We expect an upward exit either from the current levels or through manipulation below $0.469. A fix below the zone of interest and the level of 0.41 invalidates the trading idea.