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November 19, 2021

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EllioTrades Daily Roundups

November 19, 2021

Altcoins Are Showing Strength

Oliver Grah
Nov 19, 2021
16
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November 19, 2021

www.elliotrades.xyz

Introduction

After several days of negative price action, the time for the markets to bounce has come – especially altcoins are having a great day. It’s impressive to see how strong altcoins are behaving compared to Bitcoin during this bearish trend. Just look at how Bitcoin dominance has been plummeting in the last few days!

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We can observe the same on the ETH/BTC chart: ETH is showing strength vs. BTC, coiling up in a massive weekly bull flag formation. Is this the beginning of a potential market shift with Bitcoin taking the back-seat for a while? With Bitcoin’s recent consolidation likely taking its time, it’s reasonable to believe that altcoins might remain in the spotlight for now.

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While most altcoin holders will be happy with the current situation, Bitcoin needs some galactic support soon…

Twitter avatar for @RektProof
RektProof. @RektProof
So according to the Moon Phases #Bitcoin should pump tomorrow.
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6:55 PM ∙ Nov 18, 2021
2,134Likes188Retweets

Market Outlook

  • We have repeatedly stated that a positive reversal for Bitcoin will get likelier once people lose their appetite to “buy the dip” and sentiment enters extreme fear levels. We are not there just yet but certainly getting closer.

Twitter avatar for @BitcoinFear
Bitcoin Fear and Greed Index @BitcoinFear
Bitcoin Fear and Greed Index is 34. Fear Current price: $56,903
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12:00 AM ∙ Nov 19, 2021
6,595Likes1,052Retweets
  • Is it soon time to throw all caution overboard and go all-in on the next (possible) dip? Certainly not because in addition to the frothy sentiment and high leverage that caused this recent correction, there are also headwinds from a macro view: The US Dollar Currency Index DXY has been shooting up after establishing a firm double-bottom formation – potentially spelling trouble for risk assets.

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From 0 to DeFi “Blue-Chip” Territory in a Week

  • Wow, that went fast. Notional Finance’s TVL went from virtually 0 to over $600 million in a matter of days, climbing the ranks in the DeFi leaderboard. And of course, NOTE’s price has reacted accordingly. 🚀

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The First-Ever Polkadot Parchain Slot Is Taken

  • It was a fascinating neck and neck race between Acala and Moonbeam to decide the winner of the first parachain slot. Both projects were in the lead a couple of times. But since earlier today, we know who the official winner of the first parachain slot is: Acala. With 99% certainty, Moonbeam will be the next winner in a week.

  • Acala (and the other 4 parachain winners from the first round) will launch on December 18th. Acala will pursue a phased rollout of several products: A liquid DOT (LDOT) staking product, the decentralized stablecoin aUSD, an AMM-style DEX, and the EVM+ development environment.

Twitter avatar for @Polkadot
Polkadot @Polkadot
Congratulations to @AcalaNetwork for winning Polkadot's first parachain auction! Acala will be onboarded at block #8179200 [Dec. 18] at the beginning of lease 6 with the other first 5 auction winners. Over 81K network stakeholders locked up DOT in favor! polkadot.js.org/apps/?rpc=wss%…
Confetti GIF
3:43 PM ∙ Nov 18, 2021
3,817Likes1,006Retweets
  • If you’re still waiting for the right crowdloan opportunity to deploy some of your DOT, maybe have a closer look at Efinity. As an Enjin-backed gaming protocol on Polkadot, it certainly fits multiple narratives and has the potential to become a major player in the crypto gaming space.

Twitter avatar for @enjin
Enjin | We're Hiring! @enjin
Games or projects with large userbases? Not a problem. In internal Alpha, #Efinity can handle 120 million NFT mints/transfers per block. enj.in/efinity #polkadot #parachain #NFTs
5:35 PM ∙ Nov 18, 2021
508Likes95Retweets
  • There are several ways to participate in a crowdloan: Either you choose the simple but custodial path via a CEX like Kraken or you take part with your own wallet on Polkadot.js.

Twitter avatar for @enjin
Enjin | We're Hiring! @enjin
Efinity is now live on @krakenfx's Polkadot Parachain Auction Platform! Learn more and contribute $DOT via your Kraken account: kraken.com/learn/parachai… #Parachain #Efinity
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1:29 PM ∙ Nov 19, 2021
99Likes18Retweets
Twitter avatar for @enjin
Enjin | We're Hiring! @enjin
Contributions via Polkadot.js are now live for the #Efinity crowdloan! In the spirit of community, we've also updated our rewards structure: 10% of $EFI supply (200M) is allocated to supporters, capped at 50M $DOT. Vote for the decentralized #Metaverse: enj.in/loan
5:12 AM ∙ Nov 19, 2021
955Likes165Retweets

NFL NFTs on Polygon

  • In another great move toward increased mainstream NFT adoption, the NFL has started working with Polygon on its NFT offerings.

Twitter avatar for @MihailoBjelic
Mihailo Bjelic @MihailoBjelic
It's official: 🏈 @NFL NFTs are here, and they're built, minted and traded on @0xPolygon! 🔥🔥 nfl.live-nfts.com This is another important milestone towards our goal of becoming the world's #1 platform for NFTs. Onwards and upwards! 💫 coindesk.com/business/2021/…
coindesk.comNFL Dabbles With NFT Ticket Collectibles on PolygonThe league is exploring NFT ticketing through the launch of its “Virtual Commemorative Ticket” collection on the Polygon blockchain.
8:21 PM ∙ Nov 18, 2021
592Likes164Retweets
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November 19, 2021

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