• Elon Musk recently tweeted about Dogecoin, causing a 6.6 percent surge in its price and a 2.5 percent surge in Shiba Inu’s price.
• According to the Blockchain Research Lab study, there is an average 3 percent price range on each of the 47 events after a tweet by Musk.
• The 24-hour move of Dogecoin has been within the ranges of $0.0832 and $0.0872, but it could not test its key resistance level of $0.09 before recording its first retracement as seen in the chart.
Elon Musk’s Tweet
Twitter CEO Elon Musk has triggered speculations among investors with his tweets which have caused a fair increase in the price of meme coin Dogecoin (Doge) in the last 24 hours. In what appears to be a joke, Musk Tweeted: „High time I confessed I let the Doge out.“ There was an image attached to the post with the inscription „It was me, I let the dogs out.“ There was also a follow-up tweet where he wrote „Fact check me @CommunityNotes.“
Dogecoin responded with a 6.6 percent sharp increase with Shiba Inu surging by 2.5 percent following this tweet from Musk. It is believed that some users think that this tweet may be an expression of some new feature introduced to Twitter; however, he sought to show his interest in the meme coin nonetheless through his tweets and posts on social media platforms like Twitter and Instagram.
Blockchain Research Lab Study
Blockchain Research Lab’s study on Elon Musk’s effect on cryptos discloses that he has an interesting command over investors as there is usually an average 3 percent price range for each of the 47 events after one of his tweets or posts about them online. The study further observed that whenever there is an immediate and large spike in price, there is another 45-minute price spike that follows shortly afterwards – quite indicative of how influential he can be when it comes to crypto prices!
The 24-hour move of Dogecoin has been within the ranges of $0.0832 and $0
• LBank Exchange will list WiBX Utility Token (WBX) on February 20, 2023.
• WiBX is a platform where companies expand their sales and customers become nano-influencers.
• WiBX supports great solid projects for the new era of Web3 revolution.
LBank Exchange Will List WiBX Utility Token (WBX)
LBank Exchange, a global digital asset trading platform, will list WiBX Utility Token (WBX) on February 20, 2023. The WBX/USDT trading pair will be officially available for trading at 12:00 UTC on February 20, 2023.
Introduction to WiBX
WiBX is here to revolutionize the contact between brands and their customers through referral marketing. Its purpose is to bring a new concept of technology to the community, with a focus on online promotion and commerce. Individuals can recommend products and services on their social networks and get paid for them by downloading WiBx app and following the step by step instructions to share ads of their favorite brands. Companies can open stores on WiBx platform and create advertising campaigns that will make the ads available for users to share and get rewards in return. Between 2019 and 2021, more than 3 million people have engaged in campaigns for brands registered on WiBx platform.
Benefits of Using WiBx
WiBx brings advantages to both individuals as well as companies: Individuals can earn digital coins in exchange for recommending products or services from companies they like; Companies gain more reach through recurring disclosure made by customers who become loyal followers after sharing their favorite brand ads across social networks.
Future Impact of WiBx
WiBx is also adding to the construction of the way people will interact with the phygital world through gamification and metaverse, impacting how money will be transacted in future times. It also supports great solid projects for the new era of Web3 revolution that allows brands control over customer engagement while generating rewards in tokens that can be used by customers to purchase products they helped publicize.
LBank Exchange’s listing of WBX token opens up exciting opportunities for users who are looking forward to engaging with innovative platforms such as WiBx that bring together individuals as well as companies into one seamless ecosystem where everyone benefits from digital coin rewards earned from promoting products or services from favorite brands online!
• Polygon (MATIC) network is a scaling solution for Ethereum and hosts hundreds of DeFi apps with a total value locked (TVL) of approximately $1.18 billion.
• Rariko, a next-generation wallet communication protocol built on the Polygon network has announced a partnership with AcknoLedger to provide seamless UX for NFT transfers.
• Rariko is building social interaction platforms like Facebook and Twitter but based on blockchain technology.
Polygon Network Attracts Decentralized Finance Applications
The Polygon (MATIC) network is an Ethereum scaling solution that continues to attract the next-gen decentralized financial applications (DeFi), particularly those related to non-fungible tokens (NFTs). According to the latest market data, the Polygon network takes pride in hundreds of DeFi apps with a total value locked (TVL) of approximately $1.18 billion. The top DeFi projects using the Polygon network include AAVE, Quickswap, Balancer, and Uniswap V3.
Rariko Partners With AcknoLedger
Rariko, a next-generation wallet communication protocol powered by the Polygon network has announced a strategic partnership with AcknoLedger, a global consortium that maps, monetizes and distributes Web3 digital assets. The partnership between AcknoLedger and Rariko will allow the former to easily engage with and grow their community while providing users with seamless UX for NFT transfers from their wallets. Additionally, Rariko’s compatibility with all EVM chains as well as Solana enable automated communities token gated access in real time asset authentication (RTAA) and anti-phishing checks.
Building Blockchain Based Social Networks
The Rariko platform intends to build social interaction platforms like Facebook or Twitter but based on blockchain technology instead of centralized server infrastructure as seen in traditional social media networks like Facebook or Twitter.. This move will open up plenty of use cases such as digital identity management through KYC/AML compliance protocols as well as allowing users to earn rewards through activity-based programs hosted by the platform itself.
Advantages Of The Platform
Alongside its compatibility with EVM chains and Solana networks which enables token gated access in RTAA protocols, there are numerous advantages associated with this revolutionary blockchain based social media platform:
• Instantaneous microtransactions enabled by cryptocurrency payments
• Reduced friction due to smart contracts running on blockchain
• More secure user data protection due to private keys authentication
With its strategic partnerships with top companies such as AcknoLedger along with its advantages over traditional centralized networks such as lower fees for microtransactions etc., it is safe to say that Rariko’s blockchain based social media platform has huge potential when it comes to bringing revolutionizing changes in how we interact online today!
Ethereum Price Hits $1,700 for the First Time in Five Months
• Ethereum (ETH) surged past the $1,700 level on February 2nd, for the first time in five months since September 12th.
• ETH is facing resistance at $1,680 and currently forming an ascending triangle pattern.
• Profit-taking has jumped to a two-year high recently and ETH could reach $1,800 or higher this month if it breaks past the pattern deadline by mid-February.
Bullish Triangle Pattern
Ethereum (ETH) is currently forming an ascending triangle pattern as it attempts to surge past its resistance at $1,680. If successful, investors are expecting the price to reach $1,800 or even higher this month in February. However, it will depend on how ETH behaves as it reaches the pattern deadline by mid-February.
Negative Newsflow & High Profit Taking
The world’s second-largest cryptocurrency Ethereum (ETH) has gained by a strong 40 percent over the last month of Jan in line with BTC gains. But still, traders are not expecting any immediate positive price action here due to negative newsflow and high profit taking which have both reached their highest levels in two years since February 2021.
Futures Premiums & Bearish Indicators
Looking at the Ethereum (ETH) derivatives market, futures premiums should trade anywhere between 4 percent and 8 percent in healthy markets to cover costs and risks associated with trading them. Whenever futures trade at a discount to spot market prices, it shows a lack of confidence from leveraged buyers hinting at a bearish sentiment. Currently futures premiums are trading below that 4 percent threshold showing some bearish indicators for ETH despite its recent rally around $1,700 mark.
Retail Investors Should be Cautious
Retail investors should be cautious here as repeated failures to break past $1,680 levels coupled with negative newsflow could give bears the upper hand to cancel out bullish triangle patterns which would mean that Ethereum may not reach its expected highs of around $1,800 this month after all.