Crypto Trader Tyler Swope Names His ‘End of Year’ Altcoins, Says Chainlink and Two Additional Assets Will Reward Long-Term Holders

Crypto trader and influencer Tyler Swope is revealing his end-of-year altcoins that he believes will reward patient HODLers.

In a new video, the host of Chico Crypto tells his 304,000 YouTube subscribers that he’s got his eye on decentralized oracle network Chainlink (LINK) and two more altcoins that he says will reward their holders through a superior staking mechanism.

According to Swope, the three crypto assets are setting themselves apart by taking advantage of a new staking method based solely on real-life business performance rather than inflationary rewards.

“A new type of staking is coming, based on real-world business performance. No longer will speculation and inflation be the main driver of a stake, but the stake can be tied to metrics, performance, and the alignment of goals between entities in an industry ecosystem.”

Staking, or locking up crypto assets in order to obtain interest or rewards, tends to increase the supply of a digital asset’s tokens which leads to inflation. Swope says LINK plans to combat this by cutting off undesirable node providers and rewarding good ones.

“The beauty of Chainlink staking, is the oracle nodes can crowdsource LINK tokens from the community for the collateral required by the agreements. This allows growth. Good service providers will be able to fulfill more service agreements for customers, as they can pull stake from the community, and share with the community the revenues aka service rewards.”

LINK is exchanging hands at $19.30 as of writing, with no clear timetable for the launch of its staking protocol.

Swope is also keeping a close watch on Energy Web Token (EWT), the native cryptocurrency of the Energy Web Chain, a blockchain platform designed to accelerate a low-carbon system that leverages open-source, decentralized, digital technologies.

Swope says EWT has a similar plan to combat inflation by only rewarding stakers deemed to be performing well.

Reading from the EWT executive summary, Swope says,

“Staking rewards on decentralized service-level agreements (dSLA) come from value created in the real world (as opposed to inflationary awards paid in newly minted tokens). dSLA rewards are only distributed only to high-performing providers and the patrons who support them.”

EWT is trading for $11.25 as of writing and its staking program is up and running.

Lastly, Swope brings up UBT, the native utility token of Unibright, a framework that aims to simplify blockchains and contracts for large enterprises using their “no code” approach.

Swope highlights the importance of UBT in the Baseledger token model, a project that seeks to connect enterprise organizations to Ethereum.

[12:59] “At the center of everything is the Unibright UBT token. Unibright token is the staking token, the payment token. It is the token of the Baseledger, whose goal is to connect the enterprise to the ETH mainnet.”

UBT is exchanging hands at $1.59 as of publication. Swope predicts that Unibright will launch before the end of the year.

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Bitcoin and Ether Market Update May 20, 2021

Total crypto market cap erased $393 billion from its value for the period since Monday and now stands at $1.73 trillion. The top ten coins are all in red for the last 24 hours with all of them registering double-digit losses. Polkadot (DOT) was the worst performed with a 25 percent loss. At the time of writing bitcoin (BTC) is trading at $40,460, ether (ETH) nosedived to $2,710.

BTC/USD

Bitcoin closed the trading session on Sunday, May 16 at $46,420 after trading in the wide range between $49,600 and $43,800 during intraday. The BTC/USDT pair was 20 percent down on a weekly basis. The sudden sell-off was mainly triggered by the fact the coin was struggling to surpass the weekly horizontal resistance situated in the $58,000-$59,000 zone for more than 2 months. Additionally, we could clearly see a diamond pattern bearish signal on the daily chart, which combined with the declining trend strength indicators were in favor of a major price correction.

On Monday, the biggest cryptocurrency broke below the 21-day EMA on the weekly timeframe and hit the lower boundary of the long-term uptrend corridor, closing the day near $43,600, which corresponded to a 6 percent decline.

The Tuesday session was the fourth consecutive in red for BTC. This time the coin temporarily recovered to $45,500 but was rejected there, proving that the zone has turned from support to resistance, thanks to the weekly levels. Bears managed to push the price down to $42,800 at the candle close.

The mid-week session on Wednesday was no different and bitcoin continued to slide, moving below the January high of $42,000 and briefly touching the sub-$30k zone. It ended the day at $36,800 – its lowest point since February 3, 2021.

What we are seeing midday on Thursday is a 9.6 percent jump to $40,400.

ETH/USD

The Ethereum Project token ETH was highly volatile on the last day of the previous week. It was moving up and down the zone between $3,860 and $3,340 before closing with a red candle at $3,580 – below the previous uptrend line, but still above the horizontal support.

The ether was 9 percent down for the seven-day period.

On Monday, the coin continued to move downwards and erased another 8 percent of its value, lost the 21-day EMA, and reached $3,280.

The overall market decline affected the previously unstoppable ETH bulls and they started losing ground. The mentioned $3,500 support turned into resistance, which is normal given the fact it was only tested once in the current run. The Tuesday session was not that good for buyers as they were rejected at the horizontal level and only managed to form a short green candle to $3,370.

The third day of the workweek came with a flash crash. The ETH/USDT pair dropped as low as $1,845, which corresponded to a 45 percent decline, but recovered in the latter part of the session, eventually closing at $2,455.

The coin is currently trading 8 percent higher after surpassing the $2,500 major horizontal level.

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Bitcoin and Ether Market Update March 4, 2021

Total crypto market cap added $63 billion to its value for the period since Monday and now stands at $1,512 billion. The top ten coins are all in red for the last 24 hours with Chainlink (LINK) and Binance Coin (BNB) losing 5.1 and 4.7 percent of their value. At the time of writing bitcoin (BTC) is trading at $49,193 on the Bitstamp daily chart, ether (ETH) is hovering around $1,556.

BTC/USD

Bitcoin closed the month of February at $45,160 after jumping up from a daily low of $43,000 on Sunday. This resulted in another 37 percent added to the coin’s market cap on a monthly basis.

On Monday, the BTC/USD pair started trading on positive territory and eventually managed to break the 4 days long losing streak by forming a huge green candle to $49,674. By doing this is moved above the short-term EMAs (20 and 26 days) and avoided further decline.

The second day of the workweek came with a pullback to $48,500, but not before testing the newly established support in the $47,000-47,500 area. The 24-hour trading volumes were still relatively low compared to the previous few weeks as many traders continued to remain cautious about the potential upside reversal.

The mid-week session on Wednesday was again a good one for bulls. The leading cryptocurrency formed one leg up and climbed above $50,000 for the first time since February 25. It peaked at $52,640 during intraday, also breaking into the next supply zone. The trading activity, however, was not backed by enough volume, and BTC start losing momentum in the evening part of the session eventually closing at $50,423. It still registered huge gains compared to the previous session.

As of the time of writing this piece, BTC/USD is at $49,193 struggling to surpass $49,500 – a solid S/R level from early February.


ETH/USD

The Ethereum Project token ETH hit a weekly low at $1,285 on February 28 and was already trading 37 percent lower compared to its $2,045 peak registered on February 20. It managed to recover to $1,422 by the end of the session, which corresponded to an 8.3 percent increase for the second month of the year.

On Monday, the ether followed the example of Bitcoin and rapidly started moving upwards. It closed the day at $1,573 adding 10.6 percent.

The coin erased half of if its gains the very next day by correcting its price down to $1,486, right below the 26-day EMA. The $1,590 – $1,610 area was the next major obstacle in front of bulls. It first acted as resistance back in early February, then again was a trouble area for sellers during ETH’s freefall last week.

On Wednesday, March 3 made a sharp turn North reaching the 200-day EMA on the 4-hour chart at $1,660, also above the already-mentioned resistance area. However, the momentum was not strong enough and bulls easily gave back their gains ending the trading day at $1,570.

The ETH/USD pair is trading at $1,560 in the early hours of trading on Thursday after it was once again rejected around $1,620.



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Bitcoin, Ether, and XRP Weekly Market Update December 14, 2020

The total crypto market cap erased $7.2 billion from its value since last Monday and now stands at $562.9 billion. The top 10 currencies were all in red for the last seven days with Ripple (XRP) and Bitcoin Cash (BCH) losing 18.4 and 4.2 percent of their value respectively. By the time of writing bitcoin

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Bitcoin (BTC) $ 26,945.22 0.12%
Ethereum (ETH) $ 1,672.44 1.02%
Litecoin (LTC) $ 65.57 0.46%
Bitcoin Cash (BCH) $ 234.47 1.04%