CRYPTO NEWS AGREGATOR
Tue, Jan 11, 2022 5:15 PM by Max E.

NEAR (NEAR), Ethereum (ETH) & Oasis (ROSE): Price Digest 

January 11 Price Digest

NEAR Protocol (almost) holds positions

Recently, Forbes published data from a report by ElectricCapital on which blockchain platforms attracted the maximum number of developers in 2021. The list of the most popular platforms also includes the Near blockchain protocol. This project was founded in 2017 by programmers Ilya Polosukhin and Alexander Skidanov.

Near was developed using the Rust programming language, which surpasses Solidity in popularity. The project's recent success has been driven by the $ 800 million software developer grant program announced in October, and an important staffing decision – former Circle Marketing Director Marike Flaman became the head of the Near Foundation last month.

According to the CEO of Three Arrows Capital, Zhu Su, Near (NEAR) is growing against the background of the general decline in the crypto market, as macro investors own the minimum amount of this asset. Su believes macro investors are leaving their cryptocurrency positions as the US Federal Reserve begins to reduce its asset purchases.

Macro investors turned to cryptos after the market crash that occurred in March 2020 at the height of the Covid-19 pandemic. However, now, as the Fed reduces approach, they are exiting crypto. Naturally, NEAR suffers to a minimum, since macro investors bypassed this asset. However, the NEAR Protocol price is down 0,04% in the last 24 hours. NEAR price today is $15,91. 

Ethereum (ETH) Faces Volatility 

The brief recovery from the New Year's recession ended as unexpectedly as it began, with the charts of most of the leading cryptocurrencies turning red again. Early Tuesday morning, BTC fell below $ 40,000 for the first time since August last year.

So a sharp drop led to the fact that many holders of margin positions lost money, and more than a hundred thousand traders were liquidated. Fortunately, the number one cryptocurrency in terms of market cap has since returned to the $ 41K range, where it is now entrenched.

ETH followed the same curve and dipped briefly below the $ 3000 level early Tuesday morning, losing 2% of its market value. Since then, the currency, second in terms of market capitalization, has somewhat recovered its positions and consolidated at $ 3,100.

This volatility appears to remain at least in the near to mid-term as leveraged derivative positions build up at an accelerated pace, indicating excessive interest in speculation on BTC price action. But in the spot market, meanwhile, deathly silence reigns. In addition, the leverage ratio on open futures positions is rapidly approaching the 2% threshold, which directly indicates a growing risk of strong short-term volatility.

Oasis Network (ROSE) Is Down 8,39%

Although just a week ago the media reported that, against the background of the expansion of the Oasis Network ecosystem, the price of the ROSE token is growing by 54% per week, bearish trends on the crypto market have not spared this token either: ROSE price is down 8,39% in the last 24 hours. The Oasis Network price today is $0,396072. Nevertheless, in the long term, analysts give rather bullish forecasts.


The content of this article is for informational purposes only and should not be construed as investment advice. We ask you to do your research. This text is not a guide to action. The author's opinion may not coincide with the opinion of CoinJoy.

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