CryptoSyzygy

What Tether is doing is what PayPal is going to do that's why they have issued a Stable coin.

Strategy is simple : Take Dollar from people, issue the Stable coin, and let them play around On-chain with the Stable coin, buy T-Bills with the $ that are deposited to your DeFi protocol earn 5% interest rate. Keep the interest payment with you as profit and rest of your stable coin on chain remains backed by actual $.

Loop runs like this until Fed brings down the risk free rate to 0-2% range Tether/PayPal would keep printing profits. PayPal probably got into this as their share is down by 80% or so if I am correct and there is no easier way to earn $ and pump stocks other than DeFi innovation, well not literally innovation by PayPal rather it's more like a copy trading Tether lol.

For a US citizen it's easier to buy a T-Bill, just go to Fidelity and press buy but imagine for someone who is outside US how is he going to get that 5% risk free interest (assuming roi is 5% as long as Fed doesn't cut rates). That's where RWA comes into picture. Tokenizing real world asset and what's RWA here it's the T-Bill. Similarly, you can do it for Real Estate, Gold and what not in future.

Global payments giant PayPal (PYPL) is entering the cryptocurrency market with its own U.S. dollar-pegged stablecoin, PayPal USD (PYUSD).

The Ethereum-based token will soon be available to PayPal users in the U.S. and is the first time a major financial company is issuing its own stablecoin. Users can transfer PYUSD between PayPal and supported external wallets, fund goods and services purchases or convert any of PayPal's supported cryptocurrencies to and from PYUSD.

PayPal said the stablecoin will be available to an "already large and growing community of external developers, wallets and web3 applications," and can be easily adopted by crypto exchanges.

PYUSD is issued by New York-based crypto financial services firm Paxos Trust and fully backed by U.S. dollar deposits, short-term Treasuries and similar cash equivalents. It is redeemable for dollars at all times and can also be exchanged for other cryptocurrencies available on PayPal’s network, such as bitcoin (BTC), bitcoin cash (BCH), ether (ETH) and litecoin (LTC).

There is a good news and a bad news and I will start with the bad news first. The bad news is that #Bitcoin has developed a bearish divergence on weekly chart, however, the bearish divergence is not that massive but since the timeframe is weekly so you really can't ignore this chart. Men lie women lie but charts don't lie.

Having said that I have a good news for you as well. If you watch closely the #RSI is creating a pattern on weekly time frame and this pattern is evidently bullish in nature. This pattern is Inverse Head and Shoulders. Yes, you are right you can draw the patterns on indicators as well. There is no said rule that chart patterns can only be drawn on price action and not on indicators. So, the current RSI is forming a bullish pattern and again you can’t really ignore that.

So what should one do? The answer to that question is that this is not a very good time to trade Bitcoin as due to these indicators it is under a massive choppy zone. Let the indicators be in favor of you then you should be dealing with it. For now I would suggest if you are a #hodler then it's fine else, as a trader, you should wait for the right opportunity to Long/Short.

For more such content follow our Binance Feed CryptoSyzygy page.

Cheers!

#BTC next target is -> $34k

The expectation is that by Wednesday/Thursday, we should see some big move. The stochastic RSI on 1D has bottomed out and been consolidating there for a longer than usual period. If you see the MACD on 1D then it is about to have a bullish crossover before coming Friday. Usually, the MACD crossover takes place immediately after the pump so that would be the first leg up in BTC. Then once MACD goes green it will continue to remain green for at least another 15-20 days which means BTC could organically move to the upside to $34k range.

During this time, I expect all the major large caps like #ARB #OP #PEPE and more to show strength and double from the current market price. This is the time you should be accumulating more large caps as the first pump would give them a great push, easy 2x. Move to mid-caps and low cap shitcoins after the first leg is over, that's when under 50M coins would go ballistic. All in all, the market looks great again and we could see billions of dollars flowing in the market again.

Now, the only thing BTC needs to do is to #hold $29k for next 4 days. If it doesn't then the mentioned target would be invalidated.

Will be posting the next BTC update soon.

All the best!

With nearly no impact of FOMC meeting yesterday, #BTC managed to hold the price it was trading at ($29,200). 25bps point hike was expected and that was already priced in.

Now, BTC looks strong, and I am expecting a bullish move to $30500/$31k range. Unless we see some major fud I don't see any reason for BTC to plummet from here. The chart looks reasonably strong for short/mid-term and my target before December 2023 still remains near $42k. We are in 'Disbelief' stage so don't let the minor dips fool you. I have attached the 1D chart for reference.

Along with this BTC move to the upside I am expecting a mini #ALTseason. All the major L2s will outperform the market. Of course, there will be many shitcoins that will pump during this season but just ensure that you don't get trapped in those. Pick the ones that have some fundamental value and working product to offer. I personally would be eyeing LSDfi, L1/L2, and some low cap shitcoins for trading purpose. Just to name a few ARB, OP, RDNT (remember Binance recently invested $10M in RDNT), HOOK and a few more.

You can add to the ALT coin list in the #comment section, and I would love to review them. I am sure there are a lot of good traders out there in the audience who give a different perspective.

For more such BTC and ALT updates follow our Binance Feed page. Don't forget to #Like and #Share it just takes 2 seconds of your time :)

Stay strong, Cheers!

At the time of writing this article #ETH is trading around $1850. But what if I told you that by Dec 2023 ETH should be at least $3k a piece. I understand it's not easy but then what is the reason that convinces me that ETH could potentially go up to $3k by Dec. Let's deep dive into it.

'We are in for the tech' a loosely used phrase in Crypto but as a matter of fact, we all adhere to it but only in our subconscious mind. We usually ignore the tech part when it comes to #Crypto but, ironically, that is the most important driver for any project to grow. Imagine would you be investing for long term in a coin if there are no developments, I don't think, unless it's a meme coin. Therefore, technology definitely plays an integral part when it comes to price explosion. You can see the history of coins/tokens that have rallied always had tech as the main driver.

So what's this news which makes ETH so bullish?

There is a huge upgrade/news that is about to be released and this tech enhancement is called Ethereum Improvement Proposals(EIP) 4844. Many are underestimating the true strength of #EIP and its ability to change the course how Ethereum will be run in future. EIPs play a pivotal role in how changes happen and are documented on Ethereum. They are the way for people to propose, debate, and adopt modifications. It will describe standards for the Ethereum platform, including core protocol specifications, client APIs, and contract standards. Every network upgrade consists of a set of EIPs that need to be implemented by each Ethereum client on the network. This means that to stay in consensus with other clients on the Ethereum Mainnet, client developers need to make sure they have all implemented the required EIPs. This is EIP in a nutshell.

But how relevant is this EIP in the context of #price. I see this upgrade to have a massive impact on price and a bullish move going forward. It will not only effect ETH price but also major L2s like ARB and OP. Of course, there are other factors that could change things with course of time for example #BTC price moving in a bearish way or any other fundamental/macro negative update from the Fed. But all in all, ETH should grow organically from here and touch the price I mentioned above.

Here is my prediction for ETH in short and long term:

Price by Dec 2023 -> $3k

Bull peak price -> $15k

If you want to read more about EIP-4844 check out #Binance academy.

At present, #BTC is facing a significant challenge as it nears its EMA200 on the 4-hour chart. Let's explore the implications of this situation and the potential scenarios that might unfold.

#EMA200 Strikes and Its Significance: BTC has encountered the EMA200 support on the 4-hour chart 5 times (check attached #chart ). Typically, such repeated strikes on a support level, particularly in a bear market, are not viewed favorably by the bulls. This is because the support level weakens with each test, increasing the likelihood of a breakdown.

Possible #Breakdown Scenario: The focus now lies on closely observing the current 4-hour candle close, as well as the subsequent one. Should BTC close below the EMA200, it might signal a potential breakdown. In this scenario, the next target price could be approximately $29,300 or below. Another crucial support level to keep an eye on is around $28,400, represented by both MA100 and EMA100.

Potential for a #Rebound: On the other hand, if BTC manages to hold the EMA200 on the 4-hour chart, there is a possibility of a bounce from the current level, which stands at $29,700 at the time of writing. However, it's essential to acknowledge that the likelihood of this rebound might be relatively lower due to the repeated tests of the EMA200 support.

Bullish Indicators: For the bulls to regain control and push the price upwards, a significant bounce is needed. Additionally, a daily close above $30,300 (EMA21 on the 1-day chart) becomes pivotal. As long as BTC remains above the EMA21, the bullish sentiment will persist. However, any drop below this level could indicate a shift into a choppy or bearish zone.

Strategic Considerations: Traders, regardless of their trading style—be it day trading, scalping, or swinging—should be mindful of these crucial price levels. A clear exit strategy is essential, especially if BTC breaches these critical levels.

Conclusion: Bitcoin's current battle with the EMA200 on the 4-hour chart is a pivotal moment for traders and investors. While multiple strikes on the support level raise concerns for the bulls, there remains the possibility of a rebound if the level holds. It's important to stay vigilant and keep these significant levels in mind while making trading decisions. Always be prepared with an exit plan to navigate potential price fluctuations.

Happy trading!

$29,500 has been held as support by #BTC for now. Mind you if it strikes once again in that area you got to exit all markets as it's gonna break the support then. 3 strikes on same support is never good.

Also, you see (check attached chart) the cluster near 2/near support trendline. Multiple strikes there is weakening the support level. Too much strikes near 2 is as bad as 3rd strike. This is the moment when you got to be proactive because the next move can be quite deceptive.

Probably, one of the toughest moves to predict when you see so much of chop that too for such a long period

So I am not bothered about 3rd strike that could take some time and would depend on the intensity of the next pump, I am more bothered about the cluster, it's a trap and BTC needs to quickly get out of it.

The market is expected to remain choppy over the weekend

My #prediction : Th next 10 days are crucial as we see the bearish MACD crossover is declining and about to take support. Stochastic RSI is already at the support and could bounce anytime. If for the next 10 days BTC holds $29,500 then I see a major bounce to $31k area and a breakout by end of August. BTC should be trading above $32k by this time.

The tug war between #SEC and #XRP finally comes to an end. It is XRP who won the case and the justice got delivered after multiple atrocities from SEC. But have we realized what this victory means to all of us? What impact does it have on other Cryptocurrencies after XRP deemed as non-security.

In today's article we will talk about XRP win and its impact on industry. Let's deep dive:-

With regulatory clarity, XRP might gain more mainstream acceptance and usage in various industries. Businesses may be more willing to explore partnerships and integration of XRP into their operations, potentially expanding its use-cases beyond the realm of speculative trading. Bigger banks with trillions of dollars in their nostro-vostro could work with Ripple as it perfectly solves this problem of idle money locked for days.

This decision in favor of XRP might prompt regulatory bodies, including the SEC, to review and potentially revise their approach to classifying and regulating crypto. This could lead to more comprehensive and clear guidelines for the industry, which might be beneficial for both market participants and regulators.

The classification of XRP as a non-security may have implications for exchanges and trading platforms that were hesitant to list it due to regulatory concerns. Now we could see increased adoption and trading volume. Keeping in mind 2017 Bull, my estimation is that XRP volume could reach up to $100B during bull peak. I have seen that mania previously and I am expecting it to happen again in 2024.

The price of XRP could explode considering its liking overall in the industry and its use case. I believe we could see XRP somewhere around $10-$15 by Q4 2024 that's like a 20x from its current price.

I recommend holding some XRP in your portfolio.