Month: Januar 2023

• GMX is the project with the highest Total Value Locked (TVL) on Arbitrum, with a total of $427.72 million.
• Despite the bearish market in 2022, GMX’s TVL has grown by over 300%.
• The count of total users of the exchange has grown by 164% since 1 January, with daily counts of new and existing users consistently increasing.

GMX is a decentralized exchange for spot and perpetual trading on Arbitrum and Avalanche that has maintained its position as the project with the highest total value locked (TVL) on Arbitrum. Despite the volatility in the decentralized finance (DeFi) market in 2022, GMX’s TVL grew by over 300%, according to data from DefiLlama. At the time of writing, GMX had $427.72 million in TVL, giving it a 37.49% share of the overall TVL of $1.14 billion of the Arbitrum network. In addition, its deployment on Avalanche was ranked as the project with the fourth-largest TVL on the chain after Aave, Benqi, and Trader Joe.

GMX has seen a tremendous rally in the count of total users on the DEX since the year started. Per data from GMX Stats, the count of total users of the exchange has grown by 164% since 1 January, with daily counts of new and existing users consistently increasing. This increase in user activity has led to a growth in trading volume on the exchange. As of this writing, total trading volume on the platform was $1.13 billion, up from $351 million in January.

The success of GMX has been a major contributor to the growth of the DeFi market. In the past few months, the DeFi market has seen massive growth, with total value locked (TVL) across all networks reaching $100 billion. GMX’s impressive TVL growth and increasing user base prove that it is one of the leading projects in the DeFi space.

With its strong fundamentals, the GMX token may see a price drawdown with buyers‘ starting to experience exhaustion. However, the future of GMX still looks bright as the project continues to expand its user base, increase its TVL, and grow its trading volume.

• Bitcoin is currently in an accumulation zone, trading below its realized price, and the MVRV ratio is below one, signaling it is oversold.
• 2022’s biggest lesson for the crypto market was that economic factors have a heavy hand in Bitcoin’s performance.
• If the U.S cannot combat inflation, this might lead to higher inflation and a dive into economic recession, which could have an impact on Bitcoin depending on the state of the dollar.

The cryptocurrency market has been through a rollercoaster of a ride in the past few months. The price of Bitcoin has been fluctuating significantly, and the market is still trying to get a grasp of its current state and the path it may take in the future. The question that many investors and traders are asking is whether Bitcoin is indeed in an accumulation zone and when the next bull run is likely to occur.

To answer this question, it is important to look at the pricing model of Bitcoin and how it has been performing since September of 2022. According to data from Glassnode, Bitcoin has been trading below its realized price since then, which is a significant indicator that the bearish cycle is coming to an end. This is further reinforced by the MVRV ratio, which is still below one, meaning that Bitcoin is still oversold. This suggests that accumulation is likely to take place and that there is renewed hope for a long-term recovery.

However, in order to make informed decisions as to whether a major rally in 2023 and 2024 is likely, it is important to consider economic factors as well. The economic outlook for the U.S. is particularly concerning. Inflation has been on the rise and the government has been borrowing money in order to combat it. If the U.S. is not able to successfully tackle the issue, it could lead to a dive into economic recession.

In this situation, the value of the dollar is of utmost importance. If more countries start to abandon the dollar as the global reserve currency, it could lead to a shift in favor of hard assets, such as gold and Bitcoin. On the other hand, if the U.S. is able to successfully tackle inflation and maintain its status as the global reserve currency, then the impact on Bitcoin may not be as significant.

Overall, the state of Bitcoin is still uncertain and it is impossible to predict how it will perform in the long-term. Investors should be aware of the economic factors that could have an impact on the cryptocurrency market and make their decisions accordingly. The best strategy may be to diversify one’s portfolio and invest cautiously.

• Bitget has launched a new feature called “MegaSwap” which bridges the gap between CeFi and DeFi by allowing users to trade over 10,000 cryptocurrencies in a secure and efficient manner.
• MegaSwap provides users with access to 10 important DEXs through 8 influential chains while staying on Bitget’s platform.
• This feature helps traders to enjoy the perks of both Web2 and Web3 worlds.

Bitget, one of the leading cryptocurrency exchanges, has recently launched a new feature on its platform called “MegaSwap”. Aimed at connecting CeFi and DeFi, this feature has been introduced to bridge the gap between the freedom and diversity of DeFi and the security and ease of CeFi. The feature allows users to trade over 10,000 cryptocurrencies and enjoy the best of both worlds.

The traditional centralized version of the internet has given ultimate power to a few conglomerates to run and control the system. This has disrupted various industries and has created various new opportunities for innovation and collaboration. The advent of Web3 has given rise to decentralized exchanges (DEXs) which have become a top pick for various investors due to their time-efficiency. However, due to a lack of protection with assets stored on DeFi wallets and a knowledge barrier for many users, DEXs have still not become a go-to form of trading amongst traders.

Thus, MegaSwap has been curated to satisfy users with the benefits of both CeFi and DeFi. This feature enables traders to access 10 important DEXs through 8 influential chains while staying on Bitget’s platform. This is done to provide users with the convenience and security of a centralized exchange (CEX) along with the freedom and diversity of a decentralized exchange (DEX). Furthermore, users also get to enjoy the perks of both Web2 and Web3 worlds.

MegaSwap has acted as a game changer in the financial arena by providing users with a secure and efficient way to trade over 10,000 cryptocurrencies. This has given users the power to transact according to their own terms and conditions and the freedom to access a wide variety of digital assets. MegaSwap has opened up the doors to a new and exciting world of digital assets and has given users an opportunity to explore the potential of the crypto market.

Overall, Bitget’s new feature has provided users with a one-stop solution to access the financial system of Web2 and Web3 and to enjoy the best of both worlds. This feature has given users the power to make secure, efficient and reliable transactions in a decentralized manner.

• SushiSwap’s tokenomics is set to be redesigned, focusing on decentralization and incentivizing liquidity.
• The proposed tokenomics will aid in providing more governance and sustainable economics for SushiSwap.
• The majority of the swap fees will go to the pools that produce the most volume, while providing a fee share to liquidity providers from the 0.05% swap fee.

SushiSwap, a decentralized exchange platform, is set to go through a comprehensive redesigning process soon of its tokenomics. The changes will focus on promoting decentralization and incentivizing liquidity. The proposal, pitched by Sushi’s CEO Jared Grey, seeks to promote value and utility, in addition to incorporating novel concepts that will help promote maximum value for the DEX and its stakeholders.

Under the proposed tokenomics, the majority of the swap fees will go to the pools that produce the most volume, while providing a fee share to liquidity providers from the 0.05% swap fee. The liquidity providers will have the option to lock their liquidity to earn boosted, emissions-based rewards. As for xSushi, time-locked tiers will be rewarded based on emissions.

Additionally, the proposed tokenomics will aid in providing more governance and sustainable economics for SushiSwap. A variable percentage of the swap fee will be used to facilitate the buyback of Sushi to permanently take it out of circulation by burning. This percentage will be contingent on the total time-lock tiers selected.

This proposal comes less than a month after SushiSwap’s community and token rebranding. The rebranding saw the DEX’s token renamed to SUSHI and its community governance token renamed to xSUSHI. The rebranding also saw the launch of a new type of liquidity mining, which has been a major factor in the DEX’s success.

With the proposed rebranding and tokenomics changes, SushiSwap aims to promote a more decentralized and sustainable economy. The DEX also seeks to provide incentives to liquidity providers and to bolster its treasury reserves to ensure continual operation and development.

Overall, these changes are expected to promote a more efficient and secure DEX, with improved liquidity and better reward systems for users. As such, these proposed changes could potentially be beneficial to SushiSwap and its stakeholders in the long run.

• Polygon’s prediction market feature, Bhavish Finance’s No-Loss prediction market, has been a key development for the network in 2022.
• MATIC has entered the list of the top 10 most purchased tokens among the 100 biggest ETH whales.
• Polygon is set for a clearer path for investors in 2023, thanks to the developments and partnerships it achieved in the previous year.

Polygon is a blockchain network that has seen a lot of growth in the past year. The network has achieved many key milestones and developments, including Bhavish Finance’s No-Loss Prediction Market feature. This development has been integral for Polygon as it allows investors to make educated decisions about their investments. With the launch of its No-Loss Prediction Market, Polygon has been able to create a clearer path for investors in 2023.

Additionally, MATIC, the network’s native cryptocurrency, has also seen an influx of activity in the last few weeks. MATIC has entered the list of the top 10 most purchased tokens among the 100 biggest ETH whales. This is a positive sign that MATIC is becoming increasingly popular and accepted in the cryptocurrency world.

All of these developments and partnerships have been great for Polygon and MATIC in the last year, despite the bearish market conditions. As such, Polygon can look forward to 2023 with optimism. The network has done a lot of work in the last year and this should help investors make better decisions in the year ahead. Furthermore, the No-Loss Prediction Market feature should provide investors with the tools they need to make informed decisions.

Looking to the future, Polygon has a lot of potential to grow in the year ahead. MATIC has already seen an increase in activity, with the cryptocurrency entering into the list of the top 10 most purchased tokens among the 100 biggest ETH whales. This is a great sign that MATIC is becoming increasingly accepted in the cryptocurrency world. With Polygon’s developments and partnerships, it’s clear that the network is in a great position to make some exciting developments in the year ahead.

• Dogecoin Foundation announced a fund of $5 million DOGE to the ecosystem’s development fund.
• DOGE briefly increased in light of the development but has since been unable to sustain resistance.
• According to the Moving Average Convergence Divergence (MACD), momentum is bearish and the short-term movement for DOGE might end in a decrease.

The Dogecoin ecosystem recently received a surprise end-of-the-year gift from the Dogecoin [DOGE] Foundation as it announced a fund of five million DOGE to the ecosystem’s development fund. The blog post stated that the fund will be used to reward developers of Dogecoin Core for their contributions, no matter how big or small. In light of the news, the price of DOGE briefly increased, however, it seems that the coin is unable to sustain the resistance as the price has since decreased.

The daily chart of DOGE reveals that the resistance further fell from $0.11 to $0.07 on 21 December. Additionally, the Moving Average Convergence Divergence (MACD) revealed that DOGE might not be able to sustain the recent price increase. The MACD signal showed that momentum was bearish as the 12-26 Exponential Moving Average (EMA) difference was beneath the histogram. Furthermore, the selling control (orange) overtook the buying power (blue). Therefore, the short-term movement for DOGE could end in a decrease below the support zone, which is currently at $0.067.

The contribution from the Dogecoin Foundation is certainly a generous one and could be beneficial for the project in the long run. However, it remains to be seen whether the recent increase in DOGE will be sustained or if it will decrease further in the near future. It is important to note that these are merely predictions and that the actual results may differ.