TOKEN2049 Dubai will take place at Madinat Jumeirah from 30 April – 1 May 2025, bringing together 15,000 attendees from across the globe for an unparalleled festival experience
TOKEN2049 – the world’s largest crypto event – will bring together 15,000 attendees from over 4,000 companies and more than 160 countries in Dubai. With demand for tickets at unprecedented levels, prices will increase ahead of schedule on Thursday 3 April. Following the resounding success of the 2024 edition, the event is once again on track to sell out weeks before the opening day on 30 April.
TOKEN2049 Dubai 2025 is scaling up significantly, transforming its unique indoor-outdoor venue at the luxurious Madinat Jumeirah Resort into an extraordinary, festival-like environment. Attendees will experience a spectacular new outdoor Amphitheater Stage, expansive exhibition and networking areas, and thrilling activities such as a zipline soaring from an 18-meter tower over the iconic Fort Island. Exclusive wellness experiences, including ice baths, IV drips, and fresh hand-carved coconuts, will further elevate the attendee experience.
While set to be the most immersive experience TOKEN2049 has ever delivered, the event will also feature an all-star lineup of speakers and side events. The back-to-back agenda will serve as the industry standard for exploring the frontiers of the digital asset ecosystem.
Alex Fiskum, Co-Founder of TOKEN2049, said: “TOKEN2049 Dubai is already surpassing last year’s extraordinary demand, set to reach capacity weeks before we open doors. This will truly be a landmark global gathering, redefining what attendees expect from industry events. We’re redefining the conference experience, pushing boundaries to provide the world’s best environment to connect, exchange ideas, network, and shape the future of the industry. We strongly encourage everyone planning to attend to secure tickets now, as a complete sell-out is imminent. We can’t wait to welcome our global community to Dubai next month”
Haider Rafique, CMO of OKX, commented: “TOKEN2049 has injected fresh momentum into the crypto industry, inspiring a new wave of entrepreneurs, developers, creators, and curious investors. The exceptional programming helps steer our industry away from speculation and toward genuine innovation and meaningful collaboration. At OKX, we’ve set the standard for compliance, security, and transparency—core values reinforced by our partnership with TOKEN2049. Together, we’re spotlighting the companies that do things right, setting a new narrative for the future of crypto. We look forward to seeing everyone in Dubai!”
The first 100 headline speakers have already been announced, with more than 200 global thought leaders, innovators, and influential voices set to take the stage. Early confirmed speakers include The Network State author Balaji Srinivasan, Binance CEO Richard Teng, Tether CEO Paolo Ardoino, Maelstrom CIO Arthur Hayes, and Circle CEO Jeremy Allaire among others. Additional major speaker announcements are scheduled in the coming weeks, building excitement and anticipation as the event approaches.
Over 200 industry-leading exhibitors have also been confirmed – they will showcase their innovations throughout the most immersive TOKEN2049 exhibition to date. Title Sponsors include OKX – a leading technology company building a decentralized future; Binance – the largest crypto exchange by trading volume and users; BloFin – a global, secure, and user-first platform for premium futures trading, Spacecoin – a decentralized internet satellite network using blockchain technology for global connectivity, MEXC – a global exchange known as “Your Easiest Way to Crypto,” and KuCoin: Shaping the Future of Crypto.
Complementing the main event, TOKEN2049 Week will showcase an impressive roster of more than 500 side events throughout Dubai, including exclusive networking events, parties, hackathons, workshops, and investor meetups. The full side events calendar is available online.
Tickets are quickly running out. Reserve your ticket today at dubai.token2049.com/tickets.
About TOKEN2049
TOKEN2049 is a global Web3 event series, organised semi-annually in Singapore and Dubai, where decision-makers in the global crypto ecosystem connect to exchange ideas, network, and shape the industry. TOKEN2049 is the preeminent meeting place for entrepreneurs, institutions, industry insiders, investors, builders, and those with a strong interest in the crypto and blockchain industry.
Yellow Network ($YELLOW) is a decentralized Layer-3 peer-to-peer mesh network that enables real-time, cross-chain trading by allowing brokers to communicate, trade, and aggregate liquidity without relying on block creation. They have recently launched their testnet and Galxe campaign, which would pave the way to a potential $YELLOW token airdrop! Here is our Yellow Network ($YELLOW) token airdrop guide.
What is Yellow Network ($YELLOW)?
Yellow Network ($YELLOW) is a decentralized system that lets brokers trade and share liquidity across different blockchains in real-time without needing to create new blocks. Here are some of its main features.
Decentralized Trading: Yellow Network enables genuinely decentralized trading by allowing participants to swap assets across different exchanges without relying on block creation.
Layer-3 Mesh Network: It operates as a decentralized Layer-3 peer-to-peer mesh network, facilitating communication, trading, and liquidity aggregation among brokers.
State Channel Technology: Utilizes state channel technology for real-time settlement between brokers, enabling cross-chain trading without the need to bridge assets.
Scalability and Efficiency: Improves blockchain throughput by reducing the computational load on nodes, making it easier to run a node and decentralizing the certification process.
How to get the Yellow Network ($YELLOW) token airdrop?
Here is a step by step guide on how to get the Yellow Network ($YELLOW) token airdrop
Make sure you are on the Ethereum, Linea or Polygon networks, select the amount you wish to lock up and click “Lock”. Note that Season 1 of this campaign is live until 11th November 2024.
Verify task
Go back to Yellow Network’s Galxe page and verify the task.
Complete social tasks
Follow Yellow and Twitter and interact with their posts as per the Galxe tasks. Remember to verify your tasks in order to earn points.
Visit pages
Visit the pages specified on Yellow Network’s Galxe page and verify the task.
Refer friends
Refer your friends to participate in Season 1: The Future.
SunPump ($SUN) is the world’s first platform dedicated to the fair launch and trading of meme coins, offering a user-friendly, low-cost, and secure environment for creators and traders on the TRON network. The SunPump platform is part of SUN.io, Tron’s first decentralized autonomous platform integrating stablecoin and token exchanges whilst supporting liquidity mining. Here is our review on everything you wanted to know about SunPump ($SUN).
What is SunPump?
SunPump is a platform on TRON that facilitates the fair launch and trading of meme coins. It offers creators an accessible, low-cost way to create their own meme coins in a secure and user-friendly environment. Here are SunPump’s main features:
One-click token generation: Users can easily create meme coins by providing a token name, symbol, image, and paying a small fee.
Bonding curve mechanism: SunPump adjusts prices based on token supply, ensuring fairness and transparency.
Instant market access: Newly created tokens are immediately listed, allowing seamless buying and selling.
Liquidity and token burn: When a token’s market cap meets specific criteria, SunPump injects liquidity funds into SunSwap and executes a token burn.
Transparency: All transactions are public, allowing users to monitor activity. Additionally, SunPump has introduced a gas fee reduction program to make participation more accessible.
Fees
SunPump charges its fees at a very competitive rate for both meme coin creators and traders. SunPump fees are as follows:
Trading fee: There is a 1% trading fee on transactions conducted on the SunPump platform.
Creation fee: SunPump charges a creation fee of around 20 $TRX for launching a memecoin on the platform.
Liquidity fee: When a project reaches 100% of the Bonding Curve, the smart contract will automatically add around 100,000 TRX and 200 million tokens to the SunSwap V2 liquidity pool, deducting about 3,000 TRX as a liquidity addition fee.
Deposit/withdrawal fees: SunPump does not charge any additional deposit/withdrawal fees aside from the usual gas fees for blockchain transactions.
What is the SUN.io ($SUN) token?
The SUN.io ($SUN) token is the platform’s native token. As a governance token, $SUN grants holders voting rights to influence the platform’s direction, including decisions on upgrades and protocol updates. The $SUN token can also be locked up to earn veSUN rewards. In turn, holding veSUN entitles to multiple rewards such as TUSD rewards, accelerated liquidity pool mining and voting rights to decide the weights of liquidity pools.
How does SunPump work?
SunPump’s main features for traders are they they provide a secure and verifiable token contract, with no presale and no team allocation. You can trade on SunPump in 5 simple steps as follows:
Explore Meme Coins: Visit the SunPump platform and browse through the available meme coins.
Select a Coin: Choose the meme coin that interests you the most.
Purchase Tokens: Use the Bonding Curve mechanism on the platform to buy tokens.
Trade Tokens: You can sell your tokens at any time to lock in profits or cut losses.
Engage with the Community: Participate in community activities to help increase the market value of your chosen meme coin.
Is SunPump safe?
SunPump launched just 11 days ago on the Tron network, has already generated over $1 million in revenue. While SunPump itself hasn’t been hacked, remember that investing in highly volatile meme tokens carries risks, so users may want to always be cautious.
Conclusion: Pros and Cons of SunPump
SunPump ($SUN) is a world’s first platform on TRON that facilitates the fair launch and trading of meme coins. Here are some of SunPump’s main pros and cons.
Pros
One-Click Token Generation: Creators can easily create meme coins by providing a token name, symbol, image, and paying a small fee.
No token presale: The benefit of no token presale means the token launch is more fair and allows for wider community participation.
No team allocation: This prevents concentration of pair and ensures a fairer ecosystem. In addition, it means team members are motivated to work for the project’s success without a guaranteed allocation and will only be rewarded on the project’s performance.
Bonding Curve Mechanism: SunPump adjusts prices based on token supply, ensuring fairness and transparency.
Instant Market Access: Newly created tokens are immediately listed for seamless buying and selling.
Transparency: All transactions are public, allowing users to monitor activity.
Gas Fee Reduction Program: SunPump introduced the gas fee reduction program to make participation more accessible.
Cons
Inherent Risks: Meme coins can be subject to price manipulation and fraudulent activities such as hacks.
Costs: SunPump charges a creation fee for launching meme coins, and there’s a 1% trading fee on transactions.
Space for Improvement: While successful, SunPump may need ongoing enhancements to address challenges. However, SunPump has only recently launched so it’s expected they will continuously improve on their platform.
Myria nodes are primarily used for gaming based layers, often referred to as Layer 2, which is essentially a scaling solution designed for games. The main function of these nodes is to promote the concept of zero gas fees.
Becoming a node owner enables you to directly generate Myria. Additionally, as a node holder, you will also receive daily Myria rewards, voting rights, and NFTs. The more nodes that are online, the more the rewards slightly drop.
Myria Node Tutorial
https://youtube.com/live/_jJFrtaUAbk
Acquire Myria tokens which can be converted to U.S. dollars or USDT. Tokens can be purchased and sold on both centralized and decentralized exchanges, such as Bybit or Uniswap.
Calculate the expected return and the break-even point. A rough calculation can be obtained by multiplying daily rewards by 28 (days of a month). The quantity may decrease as more nodes join. This data provides a general estimate, and the price of Myria could change over time.
Running a node is a technical task that will require some learning. Two strategies include running it on an old PC or with DigitalOcean.
Connect your wallet to the Myriad node. Once connected and signed in, transfer your Myria tokens, taking note of the specific value and associated transaction fee.
Myriad is a gaming-specific blockchain, often referred to as Layer 2. Myriad Node acts like a highway, allowing faster transactions and reduced costs by limiting the amount of information it reports back to Ethereum.
Proceed with the purchase of the Myriad Node using the Myriad tokens deposited.
Download the Myriad node client suitable for your operating system (Windows/Mac/Linux). Run the install process until it’s completed.
Enter your Myriad Node API Key into the installed Myriad Node client. You can locate your Node API Key within your Myriad account.
Key Updates for Myria
Metarush reached a new milestone with the first-ever closed demo in February 20231.
The Myria lore received new chapters in March 20231.
The Myria Whitepaper was released in March, providing detailed information about the ecosystem, tokenomics, and various features1.
The MYRIA token went live in early April, launching first on the OKX exchange and then on KuCoin, Gate, MEXC, Bitmart, and Uniswap1.
The founders, Andrew and Brendan, discussed the biggest crypto highlights of 2023
Phemex is a professional-grade Cryptocurrency exchange offering both Bitcoin spot and options trading. The exchange offers an innovative zero-fee trading model where fees are not charged per transaction. Phemex also offers Bitcoin, Ethereum, and Chainlink Perpetual futures. The exchange is built by ex-Morgan Stanley executives, aiming at providing institutional-grade trading tools and security. Derivatives trading allows traders to increase their exposure to certain assets and the ability to “short”.
Key Features of Phemex
Free trades on Spot Exchange (Premium account)
Institutional grade trading and security
Robust trading insurance
Free deposit fees
Ability to Leverage up to 100X margin
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Phemex Spot Exchange & Free trades
One of the key advantages of Phemex exchange is the ability to have free zero fee trades. This concept is groundbreaking for the cryptocurrency exchange industry because the previous model charged trading fees for both buying and selling crypto. These fees would add up over time, with many traders paying thousands of dollars to cryptocurrency exchanges. With Phemex, these traders can take advantage of the zero fee trading model and only pay a monthly premium of $9.99 USD per month. This is a huge game changer for cryptocurrency daytraders and technical analysts.
Phemex is also offering a US$6,050 sign up bonus, as well as 2 BTC and 10,000 USDT in trial funds! Sign up here.
I think that this is a trend and responsibility of exchange is to reduce fees for small capital users And, for the institutional clients, they willing to pay more fees, but to have a better service, like data-wise, analysis wise, right? So that’s two different groups. So we, and we announced our zero fee permission, they just to benefit our retail customers.
Jack Tao, CEO of Phemex
Bitcoin Perpetual Futures
The core trading product offered by Phemex is cryptocurrency derivatives trading such as Bitcoin Perpetual Futures. Derivatives are financial tools that derive value from the underlying product – in this case cryptocurrencies such as Bitcoin. Phemexexchange trades contracts based on the underlying asset instead of the asset themselves – this allows higher leverage and more types of products. Phemexallows up to a 101X max leverage on derivative products. This means a 1% change in the price of Bitcoin could result in 100% change in the funding amount – potentially allowing traders to double or nothing on the exchange. This type of leverage is popularized by the BitMEX exchange which also allows 100X leverage.
Supported Countries
Phemex exchange does not offer its services to the following countries: US, UK, Canada, Cuba, Crimea, Sevastopol, Iraq, Yemen, Iran, Syria, North Korea, South Korea, Sudan, China, Hong Kong, Republic of Seychelles, and Bermuda.
Supported Cryptocurrencies
Phemex only 6 cryptocurrencies for the time being: Bitcoin, Ethereum, Ripple, ChainLink, Tezos, Litecoin. Though for contracts, Phemex also does offer a GOLD/USD trading pair.
Phemex Trading take profit orders and stop-losses
One of the key advantages of Phemex is use of stop-loss and take profit orders. These orders allow professional traders to fine-tune their trading strategies and set up opportunities to take profit or stop-loss. By default, Phemex has quick options to take profit at 25%, 50%, 75% and 100% profit. These can be set when the initial position is established with a clear indication the mark price and estimated profit or loss. It’s important to remember that when take profit or stop losses are triggered, the position will be sold as a market order – meaning that the algorithm will automatically match a trade even if it’s not at the same price.
Phemex Fees
Trading Fees
The standard contract trading fees on Phemex is set at 0.01% for makers and 0.05% for takers. Whilst standard spot trading fees are 0.1% for makers and 0.1% for takers. Phemex offers trading fee discounts for VIP users i.e. those with high trading volume on their Exchange. Users can also enjoy trading fee discounts by staking Phemex’s native $PT token in return for $vePT, enough $vePT tokens.
There is no addition transaction fee for the exchange, so users can trade even small quantities without fear of having overwhelming fees. Taker fees are higher as the exchange promotes users to fill the order books and establish higher liquidity for the exchange.
Funding fee is feature that is extremely important to take into consideration on Phemex. Funding rate is paid directly to holders of either long or short positions depending if its “negative funding” or “positive funding” rate. On Phemex, the fee is charged every 8 hours and can be negative or positive – meaning it’s possible to gain or lose money every 8 hours. If funding rate is negative, shorts holders will pay longs a percentage of their position. In the example above, the funding rate is -0.0094%, so short holders will be charged 0.0094% of their entire position. This also means that long holders will gain interest on their position.
Click HERE to learn more about crypto funding rates and how to earn passive income from them.
Deposit/Wtihdrawal fees
Phemex does not charge a deposit fee, but there are minimum deposit requirements. As for withdrawals, there is also a minimum withdrawal limit and the fee charged depends on the cryptocurrency. For example, Phemex charges 0.0005 BTC for BTC withdrawals, and 1 USDT for USDT withdrawals.
Phemex has a utility token known as Phemex Token ($PT). $PT gives holders various benefits including staking yields, trading fee discounts, VIP privileges, cashback airdrops, DAO governance, as well as launchpad and launchpool access. Phemex Token cab be purchased on the Exchange, and it can be staked to obtain Vote Escrow PT ($vePT). $vePT grants exclusive voting rights in the PhemexDAO, staking yields and buy crypto airdrops privilege.
Payment methods
Phemex only accepts the following cryptocurrency deposits onto the Exchange: Bitcoin, Ethereum, ChainLink, Tether and Ripple. Due to the Exchange not having any KYC procedures in place, traditional payment methods such as credit or debit cards and PayPal are not accepted.
Sub-accounts feature
Phemex offers an easy method to create sub-accounts – each with their own individual account balances and permissions. This feature allows traders to isolate their different trading strategies from each other – as it is possible to set a limited balance to each sub-account. Balance can be transferred freely between the accounts via the sub-account system. Traders can create new accounts for each new strategy they want to test out. In addition, sub-accounts can be used for trading bots – so automated trading can be done within controlled limits.
Is Phemex Exchange Safe?
Phemex has never been the subject of a significant hack. They also have the following practices to keep user funds safe:
Cold wallets: Phemex assigns separate cold wallet deposit addresses to each user and keeps 100% of user funds in reserve. It also uses offline signature and Merkle-tree Proof-of-Reserves so users can see where their funds are in Phemex’s system.
Risk controls: Phemex uses a two-factor authentication mechanism, an anti-phishing code, and a double-entry bookkeeping system to protect user accounts from tampering and malicious actions.
Firewall and network management: Phemex deploys its system on the AWS Cloud and uses several firewalls to separate different zones and machines for different trading purposes. It also applies restrictions on system and instance accessibility.
Trading platform:Phemex uses C++ engines that are fast, reliable, and customized to provide high performance and seamless disaster recovery for 24×7 trading.
Phemex Team
The core of Phemex team is comprised of ex-Morgan Stanley executives and developers. CEO Jack Tao has worked at Morgan Stanley for 11 years with experience developing Equity trading algorithms in the US. This work is pivotal to Phemex’s long term growth strategy and mission to bring professional trading tools to the cryptocurrency space.
Conclusion: Phemex Exchange Pros and Cons
Pros
Developed by ex-Morgan Stanley Executives
Industry trend-setting Zero Fee Trading
Sub Accounts and easy to use APIs
Top tier exchange and wallet security
No KYC for small withdraws
Cons
Relatively new.
Regional restrictions without providing alternatives for users from those jurisdictions.
Phemex is currently looking for regulation via the Monetary Authority of Singapore (MAS) and SEBA for custody of customer assets. Similar to other derivatives exchanges such as BitMEX, PheMEX is currently not regulated.
Is Phemex allowed in the US?
Phemex does not offer services to the following countries: US, UK, Canada, Cuba, Crimea, Sevastopol, Iraq, Yemen, Iran, Syria, North Korea, South Korea, Sudan, China, Hong Kong, Republic of Seychelles, and Bermuda
Does Phemex have a token?
Phemex has a token known as Phemex Token or $PT. It is a utility token that provides benefits such as staking yields, fee discounts, and Phemex DAO governance.
What is the difference between PT and vePT
PT is Phemex Token, the native token of Phemex Exchange. Users stake PT in order to get vePT (vote escrow PT).
Disclaimer: Cryptocurrency trading involves significant risks and may result in the loss of your capital. You should carefully consider whether trading cryptocurrencies is right for you in light of your financial condition and ability to bear financial risks. Cryptocurrency prices are highly volatile and can fluctuate widely in a short period of time. As such, trading cryptocurrencies may not be suitable for everyone. Additionally, storing cryptocurrencies on a centralized exchange carries inherent risks, including the potential for loss due to hacking, exchange collapse, or other security breaches. We strongly advise that you seek independent professional advice before engaging in any cryptocurrency trading activities and carefully consider the security measures in place when choosing or storing your cryptocurrencies on a cryptocurrency exchange.
ZigZag Exchange will do a total of 7 airdrops totaling around 35 million $ZZ (35% of total supply). They recently finished their first airdrop round for market makers. This means that everyday users of the protocol are up next! The second airdrop criteria have been announced! So we compiled the latest guide to help you position for the $ZZ airdrop.
Here’s how users were eligible for the second round of ZigZag Exchange ($ZZ) token airdrops. There is speculation that the third round of airdrops may have similar eligibility:
ZigZag Exchange is a decentralized order book exchange powered by zkSync and Arbitrum. It provides users with a familiar trading experience similar to that of a centralized exchange (CEX), except they have full control of their funds. Users can trade directly from their wallets on ZigZag with low fees. This is possible because the platform’s market makers extract price feeds from centralized exchanges (CEXs) and relay them to the order books on ZigZag. As a result, the price quotas on ZigZag are the same as CEXs, allowing users to trade at competitive prices.
Who is the Team behind ZigZag Exchange?
An open community of coders, designers, mathematicians, cryptograph experts, high-frequency traders, researchers, market makers and other contributors, developed ZigZag Exchange. Their code is public on GitHub, and smart contracts are regularly audited by the community.
Does ZigZag Exchange have a Token?
ZigZag Exchange has its $ZZ token. $ZZ can be purchased on their own platform and Uniswap. The total supply of $ZZ tokens is 100 million, of which 60.7% will be allocated to the community. This community allocation is further divided into three categories: ecosystem (DAO, marketing, incentives, liquidity), community contributors, and airdrops.
The ZigZag token is a governance token and will also share the revenue from fees that are generated on the ZK-Rollups.
How to be Eligible for Round 2 $ZZ Airdrop?
Round 2 of the ZigZag $ZZ token airdrop has just been completed! It was a record breaking airdrop with over 100,000 users receiving an airdrop of 34% of the total $ZZ token supply. There were seven subcategories of users who were eligible for the $ZZ token airdrop:
Trader airdrop ✅ (open)
Market maker bots airdrop ❌ (closed)
IDO participant airdrop ❌ (closed)
Atlendis liquidity provider airdrop ✅ (open)
Discord member airdrop ✅ (open)
Gitcoin donator airdrop ✅ (open)
POAP holder ✅ (open)
The following categories were eligible for airdrops in season 2: Traders, Atlendis liquidity providers, Discord members, Gitcoin donors, and POAP holders. Follow these steps to be eligible for the upcoming $ZZ airdrop:
Trade on ZigZag Exchange for Trader Airdrops
Although ZigZag stated that trades between 5th November 2021 and 31st December 2022 are the base criteria, there is no list with eligible addresses yet. So it is worth a shot to make frequent trades now on the platform if you haven’t yet. Go to trade.zigzag.exchange and connect your MetaMask or Argent Wallet. If you don’t have funds, you can use their bridge to transfer assets.
A total of 92,000 addresses qualified for this airdrop. There are 3 categories of those who will receive trader airdrops based on a snapshot taken on 31st December 2022: Base Criteria, November 2021 traders, and December 2021 traders. Those who (1) had 1-month activity (first and last swap 30 or more days apart); and (2) 4 unique days with swaps qualify for Base Criteria and would receive 300 $ZZ. Those who reached Base Criteria and made their first swap before December 2021 qualify as a November 2021 trader and will get a 300 $ZZ early adoptor bonus. Users that reached Base Criteria and made their first swap before 1 January 2022 qualify as a December 2021 trader and will receive a 100 $ZZ bonus. In short, the eligibility criteria for ZigZag Exchange Trader Airdrop are:
300 $ZZ for only reaching Base Criteria.
400 $ZZ total for December 2021 trader.
600 $ZZ total for November 2021 trader.
Obtain Discord Roles for Discord member airdrop
ZigZag will airdrop $ZZ to three Discord roles: (1) Member, (2) Senior Member, and (3) OG. As they are still working out the details, there is still time to get to “Member” at least. You will need to actively engage with the community, help other users, give feedback to the team, find bugs on GitHub, create content or write Twitter/Medium posts.
253 addresses qualified for the Discord member airdrop. The amount of $ZZ airdrops depends on your Discord member role. 1,000 $ZZ to Og, 750 $ZZ to Senior, 500 $ZZ to Member.
Donate on Gitcoin for Gitcoin Donor Airdrop
Go to their Gitcoin and donate to their grant’s address 0x9B67d3067fA606BE28E56C1aB184725c07b7B221 on zkSync, Polygon, and Ethereum.
7,600 addresses qualified for ZigZag’s Gitcoin Donor airdrop. Gitcoin donors will receive 2 $ZZ for every USD donated (minimum US$3 donation).
Atlendis liquidity provider airdrop
2,100 addresses qualified for the Atlendis liquidity provider airdrop. Atlendis liquidity provider will receive 500 $ZZ per depositor (minimum US$5).
POAP holder airdrop
In February 2022 ZigZag launched a Lantern Festival Trivia event for its Chinese users. POAP holders will receive 300 $ZZ per POAP.
How do I claim my ZigZag Exchange ($ZZ) airdrop?
The airdrops have been distributed. $ZZ tokens will automatically be airdropped on zkSync Lite. You can check how many $ZZ tokens were airdropped to you by viewing your zkSync wallet at https://zkscan.io/. Check frequently as the tokens were airdropped by the team over multiple rounds. (Tramadol online)
ZigZag Exchange will definitely do a third round of airdrops. This is because they have confirmed in their Documentation they will do a total of 7 airdrops. Whilst ZigZag has not announced details of when they will do their third $ZZ airdrop yet, we it will be after the second round of airdrops in March 2023.
ZigZag has just announced their Zap bridge supports zkSync Era. Go onto ZigZag Bridge, bridge assets to and from zkSync Era to position yourself for a potential ZigZag (and zkSync) airdrop!
When reviewing an airdrop, there are several factors to consider. First, the likelihood the project will even do an airdrop in the first place. Then, to look at how many tokens the project intends to allocate towards airdrop campaigns, as well as the difficulty in participating in their airdrop. It is also important to look at the utility of the token so that there will be an actual use and purpose in participating in the airdrop in the first place. Finally, a factor to consider when reviewing an airdrop is whether the airdropped tokens are subject to any lockup period.
Likelihood of Airdrop: ZigZag Exchange confirmed they will do a total of 7 airdrops.
Airdropped Token Allocation: Around 35 million $ZZ will be distributed over 7 airdrops (35% of its total token supply)
Airdrop Difficulty: For the second round of airdrops, there were 7 eligibility criteria. For example, trading on their platform, donating on their Gitcoin or obtaining a Discord “Member” role. This makes the ZigZag airdrop relatively easy.
Token Utility: $ZZ is a governance token built on the ERC-20 standard that enables token holders to participate in the decision-making process for ZigZag Exchange’s multi-chain ecosystem. The ZigZag token will also share the revenue from fees that are generated on the ZK-Rollups.
Token Lockup: $ZZ tokens will be directly distributed in the airdrops without any vesting.
Disclaimer: Cryptocurrency trading involves significant risks and may result in the loss of your capital. You should carefully consider whether trading cryptocurrencies is right for you in light of your financial condition and ability to bear financial risks. Cryptocurrency prices are highly volatile and can fluctuate widely in a short period of time. As such, trading cryptocurrencies may not be suitable for everyone. Additionally, storing cryptocurrencies on a centralized exchange carries inherent risks, including the potential for loss due to hacking, exchange collapse, or other security breaches. We strongly advise that you seek independent professional advice before engaging in any cryptocurrency trading activities and carefully consider the security measures in place when choosing or storing your cryptocurrencies on a cryptocurrency exchange.
Ethereum Shanghai Upgrade is scheduled for April 12th and includes key economical changes to Ethereum and fee optimizations that will improve the network. This upgrade is part of Ethereum’s upgrade plan into Ethereum 2.0 – a faster, cheaper and more stable public blockchain. The main purpose of the Shanghai Upgrade is financial – it will allow stakers and validators to withdraw staked ETH from the Beacon Chain, which has been locked since December 2020. Some users have feared that this change will unlock $26 billion USD worth of Ethereum, potentially causing Ethereum’s prices to fall.
Staked Ethereum is Unlocking
The key feature of the Shanghai Upgrade is Ethereum Improvement Proposal (EIP) 4895, which will enable validators to withdraw staked ETH. Validators have staked approximately 16 million ETH to secure the network. Validators can participate in validating blocks by staking 32 ETH in the chain, and each staked ETH increases the likelihood of a validator receiving block rewards.
Validators have been staking ETH and earning rewards for validating blocks since the launch of Ethereum’s Beacon Chain in December 2020. However, the rewards earned by validators have been locked since the transition to PoS consensus in September 2022. With the Shanghai Upgrade, validators will finally be able to withdraw their rewards.
The withdrawal of staked ETH has been successfully simulated on the Zhejiang testnet. The Zhejiang testnet is the first of three testnets that will run the simulation. The Sepolia and Goerli testnets will follow, running the simulation in the coming weeks.
Key Improvements (EIP) in the Shanghai Upgrade:
EIP-3651: Warm COINBASE – This EIP aims to lower the gas cost of accessing the COINBASE address, which is a software component that allows developers to receive new tokens.
EIP-3855: PUSH0 instruction – This EIP aims to lower the gas cost of deploying contracts by introducing a new PUSH0 instruction.
EIP-3860: Limit and meter initcode – This EIP introduces a gas cost limit and meter for contract initialization code, which should help to reduce gas costs for developers.
EIP-4895: Beacon Chain push withdrawals as operations – This EIP is one of the key features of the Shanghai upgrade, as it allows validators to withdraw staked ETH from the Beacon Chain.
EIP-6049: Deprecate SELFDESTRUCT – This EIP aims to reduce the risk of contract failure by deprecating the SELFDESTRUCT instruction, which can lead to the loss of funds if used improperly.
These EIPs will reduce gas costs related to Maximal Extractable Value payments when accessing the COINBASE address, lower gas costs for developers, cap developer gas costs in certain cases, and address a similar concern.
The Shanghai Upgrade does not include EIP-4844, which facilitates the “sharding” of the Ethereum blockchain into multiple chains to enhance scalability. Sharding is a scalability solution that divides the whole network of a blockchain into multiple smaller networks called shards.
Validators will have two options for withdrawing their staked ETH. The first option is to create a “withdrawal credential” to unstake their staking rewards accumulated over the past years. The second option is to exit the Beacon Chain completely by unstaking all of their 32 ETH, which is the maximum allowed per validator.
The Shanghai Upgrade is expected to have a significant impact on the market. Approximately 16 million staked ETH will be available for withdrawal, and traders are paying attention to how the market may move. Some traders believe that the upgrade will trigger a selling wave, with many taking profit once staked ETH is unlocked. Others believe that the upgrade will encourage more staking.
Conclusion
The Ethereum Shanghai Upgrade is a minor upgrade for the Ethereum network (albeit a large upgrade in terms of unlocked Ethereum). The Ethereum core developers use this upgrade to stabilize the network rather than to deploy aggressive changes. This is why most of the improvements are smaller quality of life improvements rather than fundamental architecture changes.
The biggest impact of Shanghai has to do with staking and locked tokens. It will enable validators to withdraw staked ETH from the Beacon Chain, which has been locked since December 2020. The upgrade includes several other EIPs that aim to reduce gas costs for Ethereum developers. While it is unclear how the upgrade will impact the market in the short term, it is certain that traders will be watching how much of the available ETH will be cashed out, which could push the price of ETH down.
What is Vechain? VeChain ($VET) is a next-generation smart contract blockchain platform focused on solving enterprise and supply chain management solutions. The blockchain supports the creation of smart contracts – self-executing contacts that have a guaranteed outcome without third-party trust. Vechain’s unique advantage is that it has close relations with the big four auditing firms, such as Pricewaterhouse Cooper, who will use blockchains to audit firms.
Vechain is designed to can solve enterprise problems such as:
Anti-counterfeit for Luxury Brands – through the use of smart chips, Vechain tracks each individual item and prevents duplication. Vechain Toolchain allows anyone to create anti-counterfeit tags.
Cold-chain Logistics – ensure that food doesn’t spoil during transportation and storage by using smart IoT sensors that automatically report crucial information to the blockchain.
Automobile – keep a tamper-proof record of vehicle data including repair history, insurance, registration, and driver habits.
Carbon Credits – Quantitatively track the carbon contributions of a particular company to reduce carbon emissions. For retail users, the app is already available on WeChat. Consumers engaging in low-carbon behaviors (e.g. purchasing low-carbon products) would be rewarded with credits that can be redeemed for environmentally friendly goods or donated to charity.
Clinical trial traceability platform – with a partnership with Bayer China, Vechain will use blockchain to solve problems of digitalized clinical trial traceability.
Using blockchain technology, VeChain makes it simple and secure for product manufacturers to collect, manage, and share important product data with vendors and consumers throughout the life-cycle of a product.
Key Features of Vechain
Public blockchain Anyone can read, write and deploy decentralized applications and smart contracts onto the VeChainThor blockchain.
In-house IOT and supply chain management technology Proven blockchain implementation experiences in industries such as luxury goods, liquor, and agriculture.
Native Fee Delegation The blockchain supports the implementation of native fee delegation, which means dApp users do not need to hold VET or VTHO to write transactions if associated gas costs are specified by the developers to be sponsored.
VeChain Ecosystem
To achieve its ambitious vision, VeChain has developed a powerful blockchain-enabled enterprise software platform. The Platform enables manufacturers to assign products with unique identities, which then allows manufacturers, supply chain partners, and even consumers to interact with the product through the platform. It uses blockchain technology to ensure the security of the data collected, allocating private keys to all participants within the supply chain.
Products are assigned a unique ID, which is stored simultaneously on the blockchain and attributed to the product with an NFC chip, RFID tag or QR code. At any point during the product’s life, the chip, tag or code can be interacted with, whether by a distribution or retail partner ascertaining batch membership, or a consumer wanting to learn more about a product. The Company envisages a broad range of applications, including brand protection, anti-counterfeit, and food safety.
VeChain has existed since 2015 and migrated its previous private and consortium blockchain to its public VeChainThor blockchain in 2018. This move opens up the advanced features found on the blockchain to any developer or third party to develop and write applications on the platform. There have been several companies that chose to build their business on top of VeChainThor, including Plair and 8Hours Foundation, as well as several independent community developers.
Vechain Roadmap in 2023
Vechain Token Economics
Vechain uses a dual-token economic model. The primary token, VeChain Token (VET) is used to represent value on the network, with various mechanisms designed to stabilize the price of VET over time.
VET holders will also automatically generate the utility token, VeChain Thor Token (VTHO). VTHO is a “gas” currency, and is required to send transactions or perform actions on the network. Regular network users do not have to worry about separately buying VTHO though, as it is automatically generated in proportion to the amount of VET held. When a transaction is executed, 70% of VTHO is permanently destroyed (“burned”) and 30% is given as a block reward to Authority Node holders.
This dual-token economic model was introduced to improve network economics. This system is designed to help developers on the network. Developers holding enough VET will be able to use the network for free, as the VTHO generated will be enough to pay for transactions. If a developer is developing a transaction-intensive app, they can also look to use the multi-party payment protocol.
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In short:
Vechain Token (VET) serves as a reserve for economic staking and value transfer on the platform. VET can be “staked” in various economic nodes and generate VTHO which powers transactions on the network.
VeThor Token (VTHO) is the “gas” required to perform transactions and interact with smart contracts. Each time a transaction is made, VTHO is consumed and destroyed.
Using and Storing Vechain
Vechain can be stored safely on the VeChainThor Wallet which is available on smartphones (iOS and Android). The mobile wallet securely encrypts and provides keys to provide maximum security for Vechain holders.
What are VeChain Nodes?
Nodes are traceable wallets (such as the VeChainThor wallet) that have a specified minimum amount of VeChain stored inside. There are 2 types of nodes: Authority Nodes and Economic Nodes, both of which have their own requirements, functions, and benefits.
Authority (Thrudheim) Nodes: Securing Vechain by Proof of Authority
At the heart of Vechain are the 101 Authority Nodes that process and validate all the blockchain transactions, as well as govern the network via a voting mechanism. These Authority Nodes are selected by the Vechain Foundation and go through a full application and KYC procedure. As a reward, Authority Node holders receive the highest VTHO production rate and voting rights. Authority Nodes are generally owned by large enterprises and trusted individuals to ensure decentralized trust. Little is known about the identity of these Authority Node holders for security reasons, but several large enterprises such as DNV GL and PwC have come forward saying they hold Authority Nodes.
Economic Nodes: Providing stability to the ecosystem through staking
Economic Nodes do not validate blockchain transactions, rather they keep the Vechain ecosystem stable by keeping a certain amount of VET tokens in their VeChain Thor mobile wallet. There are different tiers of economic nodes and the more VET tokens staked for a longer period of time, the higher the rewards.
To become a Normal Economic Node holder, a minimum of 1,000.000 VET for 10 days is required.
More dedicated node holders can join VeChain’s X Node program which offer even more rewards. For X Node holders, holding a minimum of 600.000 VET at all times is required.
There are 4 types of rewards depending on the type of Node held. These range from earning a sum of VTHO per day, rewards from the Company’s Foundation Reward Pool, to whitelist access to VeChain ICOs.
VeChain started in 2015 with the establishment of its company in Shanghai. Founded by CEO Sunny Lu (ex-CIO of Louis Vuitton China), the Company has been developing enterprise-focused solutions based on its private blockchain. As the trend towards better decentralization occurred in the blockchain industry, VeChain migrated to a consortium blockchain before finally establishing the VeChain Foundation and starting their final migration to a Proof of Authority (PoA)-based public blockchain platform.
The Foundation’s vision is to create greater market transparency and provide consumers with access to more detailed information about the products they buy, sell, and interact with. By having a full 360-degree view of the supply chain, with all components securely recorded and stored in a tamper-proof distributed ledger, retailers and manufacturers can be certain of the quality and authenticity of their products, guaranteeing consumers that what they are buying is really what they think it is.
VeChain boasts partnerships and lives use cases with many notable partners, including DNV GL, PwC, Deloitte, Walmart China, BMW, BYD Auto, Bayer China, H&M, LVMH, ENN, AWS, PICC, ASI Group, etc.
Key VeChain Partnerships
DNV GL
DNV GL was founded in 1864 and has 300 offices worldwide. They provide quality assurance services to companies in the maritime, oil and gas, and power and renewables industries.
DNV GL issues Management System Certificates at the end of their inspection and certification process. This evidences that the company’s processes and products meet international standards.
DNV GL is a partner and shareholder of VeChain. Both Companies share the belief that the future of assurance lies in blockchain technologyAt VeChain Summit 2019, DNVGL announced it has completely migrated its private blockchain to the VechainThor
Since the partnership announcement, DNV GL has jointly developed several products including the Low Carbon Ecosystem and MyStory, a traceability and marketing solution. DNV GL has also reaffirmed its commitment to the VeChain ecosystem by migrating its private blockchain onto the VeChainThor public blockchain for its clients. DNV GL also gave each client a digital Non-Fungible Token (NFT) wallet so that each customer has a digital identity and can access and interact with the DNV GL ecosystem. Through this, DNV GL has issued more than 900,000 wallets, compared to Ethereum which only has 400,000 wallets.
BMW
In March 2018, BMW confirmed VeChain’s participation in the BMW Startup Garage Programme, a partnership program whereby BMW will work with the participant to develop their technology and purchase it for BMW’s use.
During the 2019 VeChain Summit, it was confirmed that VeChain and BMW will jointly develop a DApp called VerifyCar for BMW cars. VerifyCar will record vehicle information onto the VeChainThor blockchain. Examples of information which will be recorded include a vehicle’s mileage, insurance and service records.
Cihan Albay, Leader at IT Tech Office Singapore, BMW Group gives a presentation on VerifyCar
PriceWaterHouseCoopers (PwC)
PwC is known as one of the “Big Four” auditors. They are a network of firms in over 150 countries and provide services to 420 of the Fortune 500 companies.
PwC has 3 major service lines:
Assurance providing financial audits;
Advisory on actuarial and insurance management solutions and human resource services; and
Tax planning and consultancy services.
VeChain has partnered with PwC since May 2017 to jointly develop and promote the adoption of blockchain technology. After much speculation, details of their partnership were announced during a joint press conference with PwC and Walmart in June 2019. It was announced that Vechain and PwC were also working with Walmart China, and had launched the Walmart China Blockchain Traceability Platform built on the VeChainThor Blockchain. The Platform takes on the challenge of food safety by using VeChain’s technology to allow Walmart China to implement a traceability strategy for its products. Consumers can scan the products and would be able to view detailed information on the product, such as its source, logistics process, product inspection reports etc.
At the time of the announcement, an initial 23 Walmart product lines were tested and launched on the Platform. By the end of 2020, it is expected that Walmart’s China’s traceability system will see traceable fresh meat account for 50% of its fresh meat sales, traceable vegetables will account for 40% of its total sales of vegetables, and traceable seafood will account for 12.5% of the total sales of seafood.
Bayer China
The partnership between VeChain and Bayer China, the Greater China arm of one of the world’s leading pharmaceutical companies was announced on 28th May 2020. VeChain has created CSecure, a clinical trial traceability platform to be used in Bayer’s research and development of medical interventions such as drugs and other treatments. Learn more about Vechain and Bayer’s partnership.
VeChain is a blockchain-enabled platform that provides a comprehensive governance structure, a robust economic model, and advanced IoT integration to help enterprises improve supply chain management, asset tracking, data management, and more.
What are the benefits of using VeChain?
VeChain offers a wide range of benefits, including improved transparency, enhanced security, improved traceability, increased efficiency, cost savings, and more.
How does VeChain work?
VeChain uses a combination of blockchain technology, smart contracts, and IoT devices to create an immutable, distributed ledger that can be used to track and manage assets, contracts, and data.
What industries can benefit from VeChain?
VeChain has applications in a variety of industries, including supply chain management, asset tracking, data management, healthcare, finance, and more.
What is VeChain Thor?
VeChain Thor is the native blockchain platform of VeChain, which enables users to develop decentralized applications (dApps) and smart contracts.
Where can I buy Vechain
Currently, the best exchange to trade both the $VET and $VTHO token is Binance – it has the most number of traders and highest liquidity. You can purchase VET on cryptocurrency exchanges such as Binance, Huobi, and OKEx.
What is VeChain’s token?
VeChain’s token is called VET, and it is used to power the VeChain network and reward users for their contributions.
What is VeChain’s roadmap in 2023?
The VeChain Foundation says the project’s developers plan to spend the first half of the year at work on a carbon footprint explorer, a wallet browser extension and an Ethereum (ETH) token bridge, among other projects.
We’ve been closely following the events involving SushiSwap and its founder “Chef Nomi”. This article will not be making any comments or conclusions on Chef Nomi’s actions or how SushiSwap is or should be run. This article is simply an explainer on what SushiSwap is and how to use the platform. As with all yield farming projects, SushiSwap involves a huge amount of risk. Anyone intending to participate in yield farming should do full research and consider carefully the risks involved beforehand.
What is SushiSwap ($SUSHI)?
SushiSwap is the newest decentralised finance (DeFi) liquidity pool platform. With SushiSwap, people can add their tokens into the liquidity pools and earn. In this article, we’ll have a look at the Sushi Swap platform and how to participate in the liquidity pool. Anyone can participate.
Sounds interesting? Let’s dive into it.
Summary
SushiSwap is a platform that allows anyone to provide liquidity. In return, the person gets rewarded with token(s) and SUSHI tokens.
As of September 4, 2020, there are 1 billion dollars of locked liquidity.
Possibility of very high APY (up to 1,000%) on some liquidity pools. You can check the current yields on SushiBoard.
Why is SushiSwap so popular?
Sushi Swap markets itself as an “improved and community-friendly” Uniswap. Unlike a traditional exchange like Binance where they employ market makers, SushiSwap is a community-oriented platform where users provide liquidity. In return, they get rewarded. Indeed, the users are the market makers.
SUSHI token
SUSHI tokens are given as rewards for liquidity mining. The token allows its holders to participate in the governance of the platform and entitles them to a portion of the fees paid to the protocol by traders. For the governance of the platform, SUSHI holders can submit a SushiSwap Improvement Proposal (SIP) which token holders can vote on with their tokens.
Of course, some people also speculate on the prices of SUSHI and the token can be traded on major exchanges such as Binance, FTX and OKEx exchanges.
Advantages of SushiSwap
There is no KYC (Know Your Customer) policy. This means anyone can trade and contribute to the liquidity pools. The platform is permissionless, meaning anyone can contribute millions of dollars without asking for permission.
Earn tokens from Sushi Swap. SUSHI is Sushi Swap’s native token. When you contribute to the liquidity pool, you earn sushi tokens. You can exchange SUSHI for ETH.
Sushi Swap model: 0.25% go directly to the active liquidity providers and 0.05% get converted back to SUSHI and is rewarded to sushi holders.
Sounds interesting? Let’s visit Sushi Swap’s home page.
SushiSwap beginners guide
When you first arrive on Sushi Swap’s home page, you’ll see this:
Click on “Unlock Wallet” or “See The Menu”, either way you will need to connect your ETH wallet in order to this platform.
Sushi Swap has the option to use MetaMask, WalletConnect or many other non-custodial wallets. Pick the one of your choice.
Connect wallet
Give permission for Meta Mask or Wallet Connect to connect to Sushi Swap. Once you’re connected, you’re ready to add your tokens into the liquidity pools. (hummingbirddental.ca)
You’re presented with various liquidity pools (LPs). Each liquidity pool has a different annual percentage yield (APY).
In this example, I’ll contribute to the ETH-USDT pool. I add my USDT into the liquidity pool. In return, I’ll get a percentage of USDT and SUSHI tokens. Think of Sushi Swap as a “community revenue share” model.
To contribute to the liquidity pool, click “Approve USDT-ETH UNI-V2 LP” and give your Meta Mask permission to move your tokens into the liquidity pool.
Now what? You wait. The “SUSHI earned” box should populate with your earned SUSHI. You can withdraw your SUSHI token anytime by clicking on “Harvest”.
2020 roundup and new roadmap!
Many things have happened within the Sushiswap ecosystem in the last months: it is now time for a quick recap and to look at what the future will bring to this project!
The number of all the partnerships finalized by the protocol is countless, but one of the most important ones, if not the most important, is certainly the merger with Yearn. The news also sparked controversies: Sushiswap was still considered a sort of “copycat” of Uniswap by some, and when Andre Cronje (Yearn’s father) wrote an article on how it is difficult to build in Defi and how conversely it is easy for anyone to just copy other people’s code, this wasn’t seen as really coherent. The collaboration was born to allow the two teams to cooperate on Deriswap.
Nevertheless, Sushiswap has been evolving so much that, according to Mira Christanto (one of Messari’s data analysts) they have “put their past behind” and, not being backed by Venture Capitals, they can move faster than competitors. January has seen a real growth in Sushiswap’s TVL (now at $2.1 billion), mostly at the expense of Uniswap’s.
Among the important milestones in 2020, we find Onsen, the new Sushiswap liquidity mining incentivization program which replaces the old Menu of the week. It brings communities together into the ecosystem and allows voted tokens to become accredited and participate in the mining program. The website also has a new layout of and a lite version.
2021 Roadmap
As the new year has already begun, it is also interesting to have a look at what Sushiswap is working on for 2021. The team released a long and detailed roadmap in early January. Notable upgrades are the following:
Mirin will be the new upgraded version of Sushiswap’s V3 protocol. It will include many new features like franchised pools, double yield, dynamic yield rebalancing, and many more as you can read here.
Bentobox (which should have launched in January) was born in the team’s mind as a new Lending Platform. While they were was working on its code though, it became something more. In simple terms, it will be a single vault that holds all tokens for any protocols and future extensions. It will support several oracles and it will also benefit all the $SUSHI holders.
Miso (Minimal Initial Sushi Offering) will be a sort of token launchpad, designed to drive new projects’ launches on the platform. It will include crowd sale options, IDOs (Initial Dex Offering), auctions, and more. We could think of it as something similar to Binance’s launchpad.
As Ethereum fees are and will keep growing in the next future until ETH2 will be a reality, most platforms are studying alternative solutions for their users such as Layer 2 possibilities. Unlike Uniswap, which is working on Optimistic Rollups, Sushiswap decided to move in sync with the greater Yearn ecosystem and thus will probably offer Zk-rollups options.
Together with all these big news, Sushiswap is also planning to move to a new domain as the old one, in their view, is not enough to describe the diversity of the platform anymore. A transition to a fully decentralized governance structure is also planned by the end of 2021. Last but not least, Sushiswap has created a proposal page for people to express their ideas on what they would like to see on the platform. Everyone can be a chef is the place where you can voice your opinion if you like to suggest new ideas.
FAQs
Is it risky to provide liquidity to SushiSwap?
The pool could get hacked if the code isn’t audited. There have been cases of hackers draining funds from smart contracts. It helps if the code is audited by a reputable firm. In the case of SushiSwap, it has been given a “security review” (not an audit) by Quantstamp. 10 issues were identified but they do not appear to be fatal. Subsequently, Peckshield had completed an audit on SushiSwap. They found no critical or high severity issues relating to business logistics but 2 high severity opsec issues that need to be fixed through extra care with deployment.
What is the reward model of Sushi Swap?
0.25% go directly to the active liquidity providers and 0.05% gets converted back to sushi and is distributed to active SUSHI holders.
Decentralised Finance (DeFi) series: tutorials, guides and more
With content for both beginners and more advanced users, check out our YouTube DeFi series containing tutorials on the ESSENTIAL TOOLS you need for trading in the DeFi space e.g. MetaMask and Uniswap. As well as a deep dive into popular DeFi topics such as decentralized exchanges, borrowing-lending platforms and NFT marketplaces
More videos and articles are coming soon as part of our DeFi series, so be sure to SUBSCRIBE to our Youtube channel so you can be notified as soon as they come out!
Disclaimer: Cryptocurrency trading involves significant risks and may result in the loss of your capital. You should carefully consider whether trading cryptocurrencies is right for you in light of your financial condition and ability to bear financial risks. Cryptocurrency prices are highly volatile and can fluctuate widely in a short period of time. As such, trading cryptocurrencies may not be suitable for everyone. Additionally, storing cryptocurrencies on a centralized exchange carries inherent risks, including the potential for loss due to hacking, exchange collapse, or other security breaches. We strongly advise that you seek independent professional advice before engaging in any cryptocurrency trading activities and carefully consider the security measures in place when choosing or storing your cryptocurrencies on a cryptocurrency exchange.
Chart patterns are an integral aspect of Technical Analysis, but they require some getting used to before they can be used effectively. A chart pattern is a shape within a price chart that helps to suggest what prices might do next, based on what they have done in the past. Chart patterns tend to repeat themselves and can give you a real competitive advantage in the markets if you are able to learn to recognize them.
The market is constantly changing. In many cases, it does not matter how you feel about it, it only matters how the market is going to feel about it.
Market sentiment is a critical indicator to predict price movements and make investment decisions. An easy way to gauge market sentiment is by looking at chart patterns. They tend to repeat themselves, and once you are able to recognize them, it becomes easier to strategize your entries and exits.
However, it is important to note that they are NOT a guarantee that the market will move in that predicted direction. It should only serve as a frame of reference for you to feel how the market moves.
The most important thing to remember when using chart patterns as part of your technical analysis is that they are not a guarantee that a market will move in that predicted direction, they are merely an indication of what might happen to an asset’s price. Below are some of the most common chart patterns studied by technical analysts as they appear on the Bitcoin/USD chart:
1. Head and Shoulders
This is a bullish and bearish reversal pattern that has a large peak in the middle and smaller peaks on either side. The Head and shoulders pattern is considered to be one of the most reliable reversal chart patterns. This pattern is formed when the prices of the stock rise to a peak and fall down to the same level from where they had started rising. Again, the prices rise and form a peak higher than the last peak and again it declines to the original base. Prices again rise to form a third peak, which is lower than the second peak and from here it starts declining to the base level. When the prices break the baseline with volume then a bearish reversal takes place.
Head and shoulders is a chart pattern in which a large peak has a slightly smaller peak on either side of it. Traders look at head and shoulders patterns to predict a bullish-to-bearish reversal. Typically, the first and third peak will be smaller than the second, but they will all fall back to the same level of support, otherwise known as the ‘neckline’. Once the third peak has fallen back to the level of support, it is likely that it will break out into a bearish downtrend.
Head and Shoulders
2. Double Top
A double top is a bearish reversal pattern that traders use to highlight trend reversals. The price forms a peak and retrace back to a level of support. It will then climb up once again before reversing back more permanently against the prevailing trend. A double top is a bearish pattern as it signifies the end of an uptrend and a shift towards a downtrend.
Double Top
3. Double Bottom
A double bottom is a bullish reversal pattern that is opposite to the double top. Price forms a peak and then retrace back to a level of resistance. It then forms a peak once more before reversing back from the prevailing trend. A double bottom is a bullish reversal pattern, because it signifies the end of a downtrend and a shift towards an uptrend.
Double Bottom
4. Wedges
Wedges are bullish and bearish reversal as well as continuation patterns which are formed by joining two trend lines which converge. There are two types of the wedge, rising and falling. Both rising and falling wedges are reversal patterns, with rising wedges representing a bearish market and falling wedges being more typical of a bullish market.
A rising wedge is represented by a trend line caught between two upwardly slanted lines of support and resistance. This pattern generally signals that an asset’s price will eventually decline more permanently, which is demonstrated when it breaks through the support level.
A falling wedge occurs between two downwardly sloping levels. This pattern is usually indicative that an asset’s price will rise and break through the level of resistance.
Wedges
5. Cup and Handle
The cup and handle pattern is a bullish continuation pattern that is used to show a period of bearish market sentiment before the overall trend finally continues in a bullish motion. The cup appears similar to a rounding bottom chart pattern. Following the cup, the price of an asset will likely enter a temporary retracement, which is known as the handle because this retracement is confined to two parallel lines on the price graph. The asset will eventually reverse out of the handle and continue with the overall bullish trend.
Cup and Handle
6. Pennants
A pennant pattern or a flag pattern is created when there is a sharp movement in the price either upward or downward. This is followed by a period of consolidation that creates the pennant shape because of the converging lines. Then a breakout movement occurs in the same direction as the big stock move. At the initial stock movement there is a significant volume which is followed by weaker volume in the pennant section and then rise in the volume at the breakout. Pennants can be either bullish or bearish, and they can represent a continuation or a reversal.
Pennants
7. Triangles
Ascending Triangles
The ascending triangle is a bullish continuation pattern which signifies the continuation of an uptrend. It can be drawn onto charts by placing a horizontal line along the swing highs, which acts as the resistance, and then drawing an ascending trend line along the swing lows, the support. Eventually, the trend breaks through the resistance and the uptrend continues.
Ascending Triangles
Descending Triangles
Just like the ascending triangle, the descending triangle is also a continuation chart pattern. The only difference is that it is a bearish continuation pattern and it is created during the downtrend.They generally shift lower and break through the support because they are indicative of a market dominated by sellers. Descending triangles can be identified from a horizontal line of support and a downward-sloping line of resistance. Eventually, the trend breaks through the support and the downturn continues.
Descending Triangles
Symmetrical Triangles
Symmetrical Triangles are continuation chart patterns that are developed by two trend lines which converge. The symmetrical triangle pattern can be either bullish or bearish, depending on the market. In either case, it is normally a continuation pattern, which means the market will usually continue in the same direction as the overall trend once the pattern has formed. However, if there is no clear trend before the triangle pattern forms, the market could break out in either direction. This makes symmetrical triangles a bilateral pattern, meaning they are best used in volatile markets where there is no clear indication of which way an asset’s price might move.
Symmetrical Triangles
8.Chart Patterns to Identify Market Manipulation
The “Bart Simpson” Pattern
When we look at the Bitcoin chart in small time frames, one can identify sudden movements or ‘bump’ in one direction, followed by consolidation and a sudden ‘bump’ in the other direction that ends close to the base price. This phenomenon has given the name “Barts” because the asset’s price pattern looks like the head shape of the iconic Simpsons character, Bart Simpson.
It is a familiar occurrence for Bitcoin, one noticed by investors time and again during volatile trading stretches. It appears as a result of hundreds-of-Bitcoin orders in a matter of minutes. The reason for these sudden pumps and dumps is likely to liquidate crypto margin traders, whether short or long, by manipulating the market. While some believe that this is done by the exchanges themselves, which is entirely possible due to the lack of regulations, this might be related to large crypto traders, commonly known as ‘whales.’
Bart Simpson pattern
Wyckoff Pattern
The Wyckoff Pattern was first brought to light by Youtuber “Uncomplication” to unearth potential market manipulation by whales. The pattern was developed by Richard Demille Wyckoff, an early 20th-century pioneer in the technical approach to studying the stock market. The pioneering work of Richard D. Wyckoff was centered around the realization that stock price trends were driven primarily by institutional and other large operators who manipulate stock prices in their favor.
Wyckoff proposed a heuristic device to help understand price movements in individual stocks and the market, which he dubbed the “Composite Man.” Wyckoff advised retail traders to try to play the market game as the Composite Man played it. The Composite Man attracts the public to buy a stock in which he has already accumulated a sizeable amount. Wyckoff and his associates believed that if one could understand the market behavior of the Composite Man, one could identify many trading and investment opportunities early enough to profit from them. Using Wyckoff’s method, one can invest in stocks by capitalizing on the intentions of the large “smart money” interests, rather than being caught on the wrong side of the market.
The Bottom Line
Technical analysis can give cryptocurrency traders an insight into the past of crypto, facilitating future predictions. But sole reliance on technical analysis ignores sentiment or news. This is particularly problematic with cryptocurrency trading since factors like mining hash rates and governmental regulations can have significant impacts on the market.
What is technical analysis?
Technical analysis is a method of analyzing the price movements of a security or asset over time. It uses charts and other tools to identify patterns and trends in order to make predictions about future price movements.
How does technical analysis work?
Technical analysis works by looking at past price movements and using these to predict future price movements. This is done by looking at patterns in the data such as support and resistance levels, trend lines, and chart patterns.
What are the advantages of using technical analysis?
Technical analysis can be used to identify potential trading opportunities and to help traders make informed decisions. It can also help traders manage risk by identifying areas where they should exit their positions.
What is support and resistance?
Support and resistance are levels on a chart where the price of an asset has difficulty either breaking through or falling below. These levels can be used to identify potential entry and exit points for trades.
What is a chart pattern?
A chart pattern is a specific pattern that appears on a chart. Common chart patterns include head and shoulders, double tops and bottoms, and triangles. These patterns can help traders identify potential trading opportunities.
How can technical analysis be used in cryptocurrency trading?
Technical analysis can be used to identify potential trading opportunities in the cryptocurrency markets. By looking at past price movements, traders can identify patterns and trends that can be used to make predictions about future price movements.
Disclaimer: Cryptocurrency trading involves significant risks and may result in the loss of your capital. You should carefully consider whether trading cryptocurrencies is right for you in light of your financial condition and ability to bear financial risks. Cryptocurrency prices are highly volatile and can fluctuate widely in a short period of time. As such, trading cryptocurrencies may not be suitable for everyone. Additionally, storing cryptocurrencies on a centralized exchange carries inherent risks, including the potential for loss due to hacking, exchange collapse, or other security breaches. We strongly advise that you seek independent professional advice before engaging in any cryptocurrency trading activities and carefully consider the security measures in place when choosing or storing your cryptocurrencies on a cryptocurrency exchange.
