For the first time in 3 months: Big change in Bitcoin Fear and Greed Index and cryptocurrency signals

Following Bitcoin's recent bullish results, extreme greed has returned to the cryptocurrency market.

While BTC traded below $ 40,000 about 10 days ago, it currently stands at $ 46,652. After this rise, the overall market sentiment changed significantly. The popular Crypto Fear & Greed Index and cryptocurrency signals entered the "extreme greed" area for the first time in almost three months yesterday - say analysts of SafeTrading.

The index in question is based on six different data sources and evaluates each of these sources at a different rate to determine if fear or greed is prevailing in the market. These data sources include: 

  • Volatility; 

  • Market dynamics / volume; 

  • Social media; 

  • Polls; 

  • Dominance; 

  • Trends.

Too much greed or fear can cause the price of a cryptocurrency to be lower or higher than it should be. The Crypto Fear and Greed Index also provides investor sentiment data to alert investors to possible price changes.

In general, the fact that there is excessive fear in the market is seen as a buying opportunity as it indicates excessive investor anxiety. On the other hand, extreme greed indicates that investors are becoming too ambitious for fear of missing out on an opportunity or cryptocurrency signals, so a correction may soon take place.

However, the index under consideration may not give a final result, since it is based solely on data on investor sentiment. In the bitcoin bull markets, this index can often signal excessive greed, but the bull market could continue after normal industry adjustments.

It is also worth noting that one technical indicator is not enough to predict the price. Like other indicators, the Crypto Fear & Greed Index makes sense when used in conjunction with other market data.

A stablecoin pegged to the Chilean currency peso has been launched on the Stellar network.

Chris Larsen, founder of Stellar, is one of the founders of Ripple. However, after falling out with the Ripple developers, he parted ways with Ripple and developed Stellar. Like Ripple, Stellar develops blockchain-based solutions for international funds transfers. Thanks to blockchain technology, Stellar and Ripple can transfer funds cheaper and faster than traditional methods like SWIFT.

  • Stellar has made a major breakthrough. 

  • A stablecoin pegged one-to-one to the Chilean currency, the peso, has been launched on the Stellar network. 

  • Cryptocurrency CLPX Token pegged to the Chilean peso could be in serious demand in Chile thanks to blockchain technology. 

  • Chile occupies an important place in the world economy, especially with its rich copper reserves.

In the coming days, other Latin American countries may follow the example of Chile, one of the Latin American countries, on a stablecoin. Mexican businesses are also said to be launching a Mexican peso-pegged stablecoin on the Stellar network - says analyst of SafeTrading.

At the time of writing, Stellar is trading at 36 cents. Thanks to the vitality effect experienced in 2021, it was over 70 cents in the first days of May.

A stablecoin pegged to the Chilean currency peso has been launched on the Stellar network.

XLM was also negatively impacted by the mid-May correction. XLM, which fell below 20 cents as a result of the correction, is trying to hold above 35 cents.

The ongoing litigation between Ripple and the SEC could also indirectly affect Stellar. The name of Chris Larsen, the founder of Stellar, is also mentioned in the Ripple case file.

 

3 reasons why Aavegotchi (GHST) coin is growing

The NFT industry took the world by storm in 2021 as crypto and corporate industry influencers, globally recognized companies and popular sports teams embraced the growing digital collections trend - say analysts of SafeTrading.

One project capitalizing on the recent bull market in the NFT sector is Aavegotchi (GHST), an NFT ecosystem focused on decentralized finance (DeFi) and powered by the Aave protocol.

It marked a new all-time high of $ 2.74 on August 13, with the GHST price rising 202% since falling to $ 0.896 on June 22.

Three reasons for the high prices of GHST are the upcoming fall of the Haunt 2 portal, the opportunity to generate income from the sale of Gotchi and wearable devices, and the launch of new minigames that help attract new users.

  • The upcoming fall of the portal has worried the community. The biggest event in the Aavegotchi community in recent memory has been the announcement of the second Ghost, which will take place from August 26-29.

  • As the name suggests, Haunt 2 is the second portal to the Aavegotchi ecosystem, adding 15,000 new Gotchis to the protocol. Available through 12,000 win-win auctions and 3,000 draws.

  • All offers are made using GHST tokens, and lottery tickets can be purchased using FRENS, a digital asset rewarded for placing GHST through the Aavegotchi protocol.

  • Another element of Aavegotchi's popularity is that due to the rarity of both the Gotchi and wearable devices, some users have managed to get a significant return on investment by selling them in secondary markets.

  • The third reason for the bullish movement in the GHST price was the overall performance of the NFT over the past few months. The 2021 summer season, which people call "NFT summer", will also be very productive for Gtochi.

 

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