The Tron cryptocurrency (TRX) has reached its highest price in almost three years, surpassing $0.13.
This 80% increase in six months is attributed to the growing use of Tether (USDT) on the Tron network, favoring transactions with this stablecoin.
Tron has developed a robust DeFi ecosystem, including decentralized exchanges, lending, and NFTs.
It ranks second only to Ethereum in total value locked (TVL) at $9 billion.
A Bitcoin layer 2 was announced on Tron, connecting tokens including stablecoins with the Bitcoin network, injecting financial vitality.
The integration of assets based on the Bitcoin network into Tron is expanding for seamless interoperability. Tron is experiencing significant growth in price, infrastructure, and adoption, establishing itself as a leader in cryptocurrencies.
Cardano (ADA) is experiencing a significant increase in the number of smart contracts.
The growth of smart contracts demonstrates the constant improvement and development of Cardano.
ADA price shows recent fluctuations, but with a long-term bullish trend.
Towards the end of 2023, Finbold reported that the Plutus smart contract platform - versions 1 and 2 - on Cardano was hosting 14,302 smart contracts, which was an increase of 10,000 over the entire year. Although these figures were impressive at the time, data calculated by Finbold reveals that this trend not only persisted, but also accelerated significantly in January and February 2024.
During the first 11 days of February, half as many new smart contracts were created as in all of 2023, approximately 5,000 in total. Specifically, Plutus V2 scripts saw significantly more growth than Plutus V1 scripts, with the former starting the month at 18,859 and the latter at 6,356.
By February 11, V2 scripts increased by 5,037 to 23,896 and V1 scripts increased by 44 to 6,400. In total, the number of smart contracts increased by 20.17%, from 25,212 to 30,296.
The rise of smart contracts on Cardano is due to its focus on scalability and research. This year, the focus is on developing smart contracts with Plutus and improving the infrastructure. This has fueled interest in ADA, which saw a significant increase in the last quarter of 2023.
Recently, ADA has been forming a descending triangle pattern on the price chart, leading some experts to forecast a 32% rise. Despite a decline of 1.29% in the last 30 days, ADA has shown a remarkable growth of 48.30% in the last 62 weeks.
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Bitcoin's sharp price correction has surprised investors, but is it a sign that more declines are coming?
Bitcoin $BTC âŹ38,888 closed last week with gains of 9.55%, but started the new week on a weak note, falling near $40,500. Bitcoin's sharp correction also caused sell-offs in several altcoins.
The sharp drop does not change the trend in bitcoin and altcoins, as corrections are an integral part of any bullish trend. Typically, vertical rises are followed by strong pullbacks, which eliminate weaker investors and allow long-term investors to buy more at lower levels.
The corrections are unlikely to last due to several bullish catalysts in 2024. One or more bitcoin exchange-traded funds are expected to receive regulatory approval in January, which could change the outlook. This will be followed by the bitcoin halving in April and finally, expectations of a rate cut by the US Federal Reserve could boost risky assets. Goldman Sachs anticipates the Fed will begin cutting rates in the third quarter of 2024.
The current situation shows notable growth in the price of SHIB. With an advance of 7.1% in the last 24 hours, reaching $0.00001, and an increase of 20.6% in the last week and 21.7% in the last month, SHIB is positioned in 16th place in the ranking of cryptocurrencies with a market capitalization of $5,915 million.
The short-term trend until December 19 or 20 is leaning slightly bullish.
The estimated price range is between $0.00000840 and $0.00001080
News in the Shiba Inu ecosystem
Shibarium, a Layer 2 solution for the Shiba Inu ecosystem, has seen an impressive 4,400% increase in transactions, reaching 748,230 transfers on the last day of November, the highest number since the network's launch. This increase has been positively reflected in the price of SHIB and other associated tokens, such as BONE and LEASH. Furthermore, the number of active users on the blockchain continues to grow, increasing considerably since the beginning of November.
Conclusion
Recent activity in the Shiba Inu ecosystem, particularly the notable increase in transactions and active users on Shibarium, suggests a promising future for SHIB. With a near-term bullish trend and growing investor interest, SHIB could be on track to hit new highs.
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Cryptocurrency Arbitrage Platform: Bitso To carry out cryptocurrency arbitrage effectively, it is crucial to choose a suitable exchange. Bitso is an excellent option, especially in the Latin American context, and offers a number of significant advantages for investors:
Wide variety of cryptocurrencies:
Bitso offers a wide range of cryptocurrencies to carry out arbitrage operations. This diversity increases the opportunities to find profitable price discrepancies.
Low transaction costs:
The platform guarantees affordable trading and deposit fees, which decreases the total costs of arbitrage operations. This helps increase potential profit margins.
Secure and reliable platform:
Bitso has certifications from international organizations and uses advanced security measures to protect its users and their funds. This provides greater peace of mind for investors.
High liquidity:
The platform features high liquidity in various cryptocurrencies, making it easy to buy and sell assets. This reduces the risk of prices undergoing drastic changes during the arbitrage process.
Tools and resources for arbitration:
Bitso provides tools and resources to facilitate the arbitration process. These include real-time charts and data, as well as keys to identifying arbitrage opportunities and making informed decisions.
In short, cryptocurrency arbitrage is an investment strategy that seeks to take advantage of price differences between different exchanges. However, it is crucial to have experience and training before starting. Bitso is a recommended platform for carrying out arbitrage operations, thanks to its wide variety of cryptocurrencies, low transaction costs, reliable security, high liquidity and tools to facilitate arbitrage.
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Cryptocurrency arbitrage is an investment technique that seeks to take advantage of price differences between different cryptocurrency exchanges. However, it is important to note that this practice carries risks and it is crucial to have prior experience and training before starting. Below are the steps to follow to carry out cryptocurrency arbitrage effectively:
1. Identify opportunities:
Looking for arbitrage opportunities involves comparing cryptocurrency prices on different platforms and analyzing potential discrepancies. This is achieved by observing the variations in buying and selling prices on different exchanges.
2. Evaluate costs:
Before carrying out any arbitrage transaction, it is essential to consider all the costs involved. This includes the fees charged by each exchange and cryptocurrency transfer costs. This evaluation is crucial to determine if the operation will be profitable.
3. Make the transaction:
Once an arbitrage opportunity has been identified, it is necessary to carry out the necessary transactions to take advantage of it. For example, if you want to buy Bitcoin on one exchange where the price is lower and sell it on another exchange where the price is higher, you would buy the BTC at the lower price, transfer it to the second exchange, and then sell it there.
4. Monitor transactions:
It is essential to closely track transactions to ensure that they are proceeding as expected. This involves checking that deposits and withdrawals are made correctly and that there are no delays or unexpected problems.
5. Make profits:
If everything goes as planned, the investor will make a profit. However, it is important to remember that cryptocurrency arbitrage is a risky practice and profits will not always be made. In some cases, there may be losses.
Technical indicators are mathematical and statistical tools that help traders and investors make informed decisions. Here I provide you with an overview of some common technical indicators.
Moving Average (Moving Average): Type: Trend Description: Calculates the average of the prices of an asset in a specific period of time. It can be simple (SMA) or exponential (EMA). Usefulness: Helps smooth out volatility and identify the direction of the current trend.
RSI (Relative Strength Index): Type: Oscillator Description: Measures the speed and change of price movements, providing an overbought or oversold assessment of the asset Usefulness: It can indicate when an asset is overbought (possible downward correction) or oversold (possible upward correction).
MACD (Moving Average Convergence Divergence): Type: Trend and Oscillator Description: Combines two moving averages (slow and fast) to identify changes in trend and strength of movement Usefulness: Helps identify entry and exit points, as well as the strength of the trend.
Bollinger Bands: Type: Volatility Description: Consists of an upper and lower band surrounding the price, based on the standard deviation of prices with respect to a moving average Utility: Indicates volatility and possible investment points.
Fibonacci Retracement: Type: Support and resistance. Description: Use retracement levels based on Fibonacci numbers to determine possible trend reversal zones. Usefulness: Helps identify key support and resistance levels.
Volume: Type: Volume. Description: Shows the amount of assets traded in a specific time period. Usefulness: It can confirm the validity of a trend, indicate the strength of a trend and detect possible changes in it.
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Technical analysis focuses on studying market movements, while fundamental analysis examines the economic forces of supply and demand that affect prices. The fundamental approach considers all the factors that influence the price of a market to determine its intrinsic value. If this value is less than the current price, it is considered overvalued and should be sold; if it is higher, it is considered undervalued and should be purchased. Both approaches seek to predict market direction, but they differ in how they approach this problem. Fundamentalists study causes, while technicians focus on effects. For technicians, the effect is the fundamental thing and they do not need to know the causes. Although many traders classify themselves as fundamentalists, the reality is that there is overlap between the two approaches. Charts and fundamentals can conflict, especially at critical times of important moves. However, technicians are confident that the market usually anticipates fundamentals, and acts accordingly. As technicians develop their ability to interpret charts, they become more confident in their approach. They accept that, in key situations, market movements often precede confirmation of fundamentals. Technicians believe their approach is superior because it includes fundamental analysis, while fundamental analysis does not address price movements. Trading can be done using technical analysis alone, but trading using fundamental analysis alone is less likely to work.
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