While Bitcoin (BTC) and large digital currencies tend to generate the most interest from investors, there are many projects that aim to achieve greater decentralization, transparency, accountability and economic inclusion in society and business.
Cointelegraph has discovered such projects in recent months, and many of the iconic icons that have been highlighted recently have seen significant gains in productivity.
A good investor should keep track of how all the assets in his portfolio are doing, and during periodic reviews, relatives should be eliminated and additional capital allocated to assets that are still profitable.
In this new series, we take a look at some of the projects that were reviewed earlier this year to provide an update on basic and current technical settings.
Moon / dollar
Terra Protocols LUNA was priced at $ 0.6310 when it was unveiled on December 29, 2020. Since then, the price of LUNA has risen to $ 12.12, representing an 1821% increase in about two and a half months.
Cointelegraph Markets Pro’s VORTECS d data deviate from the March 7 price, indicating potential bullish expectations even in the midst of continued price declines.
Exclusive to Cointelegraph, VORTECS is a mathematical comparison of historical and current market conditions derived from a range of data points, including market sentiment, trading volume, recent price movements and Twitter activity.
The chart above shows that the price continued to fall on March 7, but the VORTECS result result remained stable at 67 and then began to rally a few hours before LUNA reached a low level of around $ 7.83 on March 8.
At that time, the VORTECS var value was 75 and continued to gain traction, with the price reaching $ 11.69 on March 9, when the VORTECS verd value reached 86.
On the primary development front, TerraUSD coins and UST stablecoin are in high demand from Mirror, Terra’s synthetic asset protocol. To meet the demand, 80 million flowers were burned at a cost of US $ 447 million. This reduced LUNA’s offer in the market from 484 million to 404 million, which is an increase for the price.
Another development that turned out to be positive was Robinhood’s ban on trading in GameStop, BlackBerry and AMC shares. This can lead a large number of traders to decentralized exchanges and synthetic assets.
During this time, Mirror Protocol’s daily trading volumes reached a record high of $ 44.42 million. The total assets associated with the mirror also reached 800 million reservoirs on land.
To further promote the use of UST, Terra financed its strategic investment arm, Terraform Capital, with a start-up capital of $ 10 million. This money will go to financing projects using UST and LUNA.
In addition to basic development, Terraform Labs, the company that operates Terra, received support when it raised $ 25 million from Galaxy Digital from Mike Novogratz. This may attract the attention of other major investors to the company.
LUNA broke the $ 5 series to $ 8.50 on March 8 and got a grip and hit the $ 12 target today. It seems that traders have taken profits around $ 12, which shows the long week in the light of day.
The rally pushed the Relative Strength Index (RSI) above 79, indicating that LUNA / USD is in short-term overbought territory. This may lead to a slight consolidation or correction in the next few days.
During the next downturn, if the bulls manage to make the $ 8.50 level supportive, it could act as a launch pad for the next bit of the trend, which could hit $ 15.50.
Conversely, if the price falls below $ 8.50, the pair may fall to the 20-day exponential moving average of $ 7.34. This is an important support that you should watch out for, as a bounce from it can keep the potential up intact.
However, if the Bears push the price below the 20-day EMA, the pair could fall to the 50-day SMA of $ 4.68.
VET / USD
The VeChain (VET) sign has also been in tears since it was awarded on December 29, 2020. The token is up from $ 0.01916002 to $ 0.0675 today, which is up 252% immediately.
Let’s take a look at some of the basic new developments that may have supported.
The Norwegian company Hydro has entered into a collaboration with DNV blockchain and launched an experimental service for Tag. Impact. Trust. Which aims to provide confirmed data for sustainability requirements.