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Idexo Lists on AscendEX

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Idexo Lists on AscendEX

AscendEX is excited to announce the Idexo token (IDO) listing under the trading pair IDO/USDT on Oct. 21 at 1 p.m. UTC. In celebration of the listing, AscendEX and the IDO team will launch several limited-time promotional events between 1:00 a.m. on Oct. 22 and 12:00 a.m. UTC on Oct. 29, 2021. By depositing and trading IDO, users will have a chance to share 40,000 USDT worth of IDO pooled rewards.

Idexo, a simplified technical and community development experience for projects that leverage blockchain features, provides developers with ways to build and grow industry-disrupting applications. Through a UX-first, blockchain-second ideology, Idexo’s suite of tools and products offer an easy-to-use interface for building application features through well-documented, short code snippets.

In efforts to enable application developers to build sustainable business models through their applications, Idexo also offers users a simple Compute Credit model for providing stable purchasing power. Idexo always focused on making the process as simple as possible for developers and users, has also integrated NFTs and NFT marketplace methods into the product in order to benefit from the knowledge and capital in this burgeoning tech space. 

Through the foundational IDO token, serving as an incentive mechanism, Idexo is able to leverage the power of its community to continually improve how the platform operates. This strategic emphasis on community-driven development empowers creators, developers, and entrepreneurs to bring about positive change even beyond the Idexo platform. The IDO token operates in centralized, decentralized, and hybrid models and recently has opened its functionalities to explore the newly found world of staking. 

To earn rewards in the Idexo ecosystem, a user is able to stake IDO tokens on currently two different types of token staking contracts. In return for doing so, stakers will receive tokens, and in turn, be able to earn rewards on those tokens and benefit from the staking process. 

The first type of staking contract involves simply staking IDO tokens on the general direction of the project. A portion of all operating margin generated from the Compute Credits and sales of products that leverage the Compute Credits and transaction infrastructure will flow through to this pool, where it is shared on a monthly and quarterly basis. The pool is then distributed to staking participants based on their portion of the overall pool, and of course a seniority formula.

The second type of staking contract involves directional staking, where participants stake on a contract tied to a particular product or product roadmap decision. Participants then earn a higher percentage of rewards if those products or decisions prove successful, and vice versa if they prove unsuccessful. This mechanism not only guides the product roadmap and integrations but also incentivizes the community to aid the project in its growth trajectory.

Outside of staking, IDO tokens can also be used to incentivize various desirable community activities, calculated on a Network Value Added basis. These incentives are organized by the foundation and voters, who have utilized their staked tokens as voting mechanisms. Again with the community at its core, Idexo has rolled out a Community Development Kit to aid projects on its platform build and develop their own communities with ease. This process also generates additional yield in the Idexo general staking pool. 

The constant feedback loop of growth and success Idexo has built into its platform and IDO tokenonmics truly exemplifies the importance of community building and project success in the continually evolving crypto ecosystem.

About AscendEX

AscendEX is a global cryptocurrency financial platform with a comprehensive product suite including spot, margin, and futures trading, wallet services, and staking support for over 200 blockchain projects such as bitcoin, ether, and ripple. Launched in 2018, AscendEX services over 1 million retail and institutional clients globally with a highly liquid trading platform and secure custody solutions. AscendEX has emerged as a leading platform by ROI on its “initial exchange offerings” by supporting some of the industry’s most innovative projects from the DeFi ecosystem such as Thorchain, xDai Stake, and Serum.

AscendEX users receive exclusive access to token airdrops and the ability to purchase tokens at the earliest possible stage. To learn more about how AscendEX is leveraging best practices from both Wall Street and the cryptocurrency ecosystem to bring the best altcoins to its users, please visit www.AscendEX.com.

For more information and updates, please visit:

Website: https://ascendex.com

Twitter: https://twitter.com/AscendEX_Global

Telegram: https://t.me/AscendEXEnglish

Medium: https://medium.com/ascendex

About Idexo

Idexo is the easiest way to integrate blockchain features in any application. By focusing on developing a desirable UX  first and integrating the blockchain technology after, Idexo provides a simple interface for dropping in features through well-documented, shortcode snippets that do what they say and require minimal effort. At the same time, it offers a simple Compute Credit model for providing stable purchasing power, enabling application developers to build sustainable business models.

For more information and updates, please visit:

Website: https://idexo.com/

Twitter: https://twitter.com/idexo_io  

Telegram: https://t.me/idexo_io

Disclaimer: This is a paid Press Release. Any information contained in this website is not proposed to be and doesn’t constitute financial advice, investment advice, trading advice, or any other advice. TheNewsCrypto is not responsible to anyone for any decision made or action taken in conjunction with the information and/or statements in this press release.

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Ethereum About to See “Liftoff” if It’s Able to Hold One Crucial Level

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Ethereum Rally

Ethereum gained pace above the $4,250 resistance zone against the US Dollar. ETH must stay above $4,150 to accelerate higher in the near term.

  • Ethereum started a recovery wave above the $4,000 and $4,250 resistance levels.
  • The price is now trading above $4,150 and the 100 hourly simple moving average.
  • There was a break above a key bearish trend line with resistance near $4,150 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair could start a fresh rally if it stays above $4,150 and the 100 hourly SMA.

Ethereum Price Gains Momentum

Ethereum found support near $3,350 and started a fresh increase. ETH gained pace for a move above the $3,800 and $3,880 resistance levels. It even broke the $4,000 level and the 100 hourly simple moving average.

Besides, the price climbed above the 50% Fib retracement level of the key decline from the $4,660 swing high to $3,327 low. There was also a break above a key bearish trend line with resistance near $4,150 on the hourly chart of ETH/USD.

The pair is now trading above $4,150 and the 100 hourly simple moving average. It is consolidating near the $4,350 resistance zone and the 76.4% Fib retracement level of the key decline from the $4,660 swing high to $3,327 low.

Source: ETHUSD on TradingView.com

An initial resistance on the upside is near the $4,380 level. The first major resistance is near the $4,400 level. The next major hurdle is near the $4,550 level. A clear move above the $4,550 could send the price further higher. In the stated case, the price could drift towards the $4,700 level in the near term.

Dips Limited in ETH?

If ethereum fails to start a fresh increase above the $4,400 level, it could start a downside correction. An initial support on the downside is near the $4,300 level.

The key support is now forming near the $4,150 level and the 100 hourly simple moving average. If there is a clear break below the $4,150 support, the price could accelerate lower. The next major breakdown support is $4,000, below which the price could decline towards $3,850.

Technical Indicators

Hourly MACDThe MACD for ETH/USD is gaining pace in the bullish zone.

Hourly RSIThe RSI for ETH/USD is now well above the 50 level.

Major Support Level – $4,150

Major Resistance Level – $4,400

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TA: Bitcoin Reclaims $50K, Why 100 SMA Is The Key For Larger Increase

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Bitcoin

Bitcoin is recovering and trading above $50,000 against the US Dollar. ETH must settle above $51,000 and the 100 hourly SMA to continue higher.

  • Bitcoin started a recovery wave above the key $50,000 resistance zone.
  • The price is now trading near $51,000 and the 100 hourly simple moving average.
  • There is a short-term bullish trend line forming with support near $49,600 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The pair could start a decent upward move if there is a close above $51,000.

Bitcoin Price Gains Momentum

Bitcoin price started a decent recovery wave after a major decline below $45,000. BTC climbed back above the $46,500 and $48,000 resistance levels to start the recent recovery.

The price is back above the $49,200 resistance level. There as a break above the 50% Fib retracement level of the key decline from the $57,690 swing high to $40,150 low. Besides, the bulls were able to push the price above the key $50,000 resistance zone.

There is also a short-term bullish trend line forming with support near $49,600 on the hourly chart of the BTC/USD pair. The pair is now trading near $51,000 and the 100 hourly simple moving average.

An immediate resistance on the upside is near the $51,000 level and the 100 hourly SMA. It is close to the 61.8% Fib retracement level of the key decline from the $57,690 swing high to $40,150 low. A clear break above the $51,000 resistance zone could open the doors for more upsides.

The next key resistance is near the $52,500 level, above which the price could accelerate higher. In the stated case, the price could rise towards the $53,500 level.

Fresh Decline In BTC?

If bitcoin fails to clear the $51,000 resistance zone, it could start a fresh downside correction. An immediate support on the downside is near the $50,200 level.

The first major support is now forming near the $49,600 level and the trend line. A downside break below the $49,600 support may perhaps start a fresh decline. The next stop for the bears might be $46,000.

Technical indicators:

Hourly MACD – The MACD is now gaining pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is currently above the 50 level.

Major Support Levels – $50,200, followed by $49,600.

Major Resistance Levels – $51,000, $52,500 and $53,500.

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Number Of Cardano Wallets Staking ADA Crosses 1 Million

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Picture of a Cardano logo

Cardano has now crossed the 1 million staking wallets milestone. The project has been one of the most promising in the space and has garnered a cult-like following since it debuted in 2017. The altcoin held the number one spot for the network with the highest amount of coins staked until recently when Solana took over that title. Nevertheless, it has held its own in the market.

Breaking A New Record

On Sunday, December 5th, crypto investor Jesse Blount took to Twitter to congratulate Charles Hoskinson, the founder of Cardano, on its latest milestone. In the tweet, Blount included a picture that showed that the number of delegators on the Cardano network had crossed one million.

Related Reading | Cardano Ambassador Addresses FUD Surrounding The Project

Staking on the network had ramped up following the release of smart contracts capabilities on the blockchain. Developers had finally been able to release DApps on the network and the projects which launched on the blockchain enjoyed tremendous success due to the anticipation. What followed was a rapid increase in the number of users that were staking their ADA on the network.

Number of staking wallets on Cardano surpasses 1 million | Source: Twitter

The image posted by Blount showed that there were a little over 1 million wallets staking on the network across 3,108 staking pools. A total of 33,085,775,493 ADA were staked on the network at the time of the post, representing 72% of the total ADA circulating supply staked. It remains one of the largest proof-of-stake blockchains.

Cardano price chart from TradingView.com

ADA drops to $1.28 | Source: ADAUSD on TradingView.com

First DEX Coming To Cardano

The launch of DEXs on the Cardano blockchain has been one of the major reasons behind the increased activity on the network. As users move towards other blockchains from the high fees of the Ethereum network, Cardano has begun absorbing this user base.

SundaeSwap is set to be the first DEX to launch on the Cardano network. According to a post on IOHK’s official Twitter, the DEX was set to launch on the Cardano testnet. The developer anticipates high usage and transaction, hence the reason for the partnership is to ensure it runs smoothly.

Related Reading | Cardano Records Over 20 Million Transactions Ahead of DEX Launches

This launch signals the official launch of DeFi on Cardano. The DEX will first go through the testnet to see how it performs under high throughput. The community was too to expect bugs in the DEX, but to also keep in mind that it is still in the early stages. As DeFi makes its home on Cardano, there will definitely be some kinks to straighten out before it is working perfectly.

Featured image from CadaNews, chart from TradingView.com

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