Tellor Coin surges 37% in a day as Bitcoin BSC reaches $5.75m milestone.

Tellor Coin surges 37% in a day as Bitcoin BSC reaches $5.75m milestone.

The Rising Power of Tellor in the Blockchain Industry

Source / Sam Cooling x Tellor

Tellor (TRB) has recently witnessed a remarkable surge of 37% in its value, outperforming leading players like Chainlink in the oracle space. As the buzz around Tellor grows, it is essential to understand the significance of this emerging project in the blockchain industry.

Oracles play a crucial role in connecting real-world data with smart contracts and blockchains. In the case of TRB, it focuses on the ERC-20 blockchain. The surge in Tellor’s price has surprised some members of the crypto community, with suspicions of possible price manipulation. However, a deep dive into the technical and market factors behind Tellor’s meteoric rise can reveal the potential of this project.

Tellor’s Price Analysis: Towards New Heights

The skyrocketing price of TRB is driven by an extraordinary surge in trading volume, increasing by a staggering 257% overnight and reaching $171 million. Currently trading at $49.80 with an 8% increase in the past 24 hours, Tellor has seen a steady rally since Monday, gaining 53.9%.

The significant price movement was triggered by a “golden cross” pattern on September 6, where TRB’s 20-day moving average (20DMA) crossed above the 200-day moving average (200DMA). This sudden surge propelled TRB’s value, resulting in a remarkable 224% gain. The 200DMA has now taken an upward trajectory, currently standing at $14.60, which is 56% below the 20DMA’s high value of $33.

While the price battles psychological resistance at the $50 mark, TRB’s Relative Strength Index (RSI) is ringing the warning bell, with a significant overbought signal at 71.5. This suggests a need for consolidation or retracement before further upside movement can resume. However, the Moving Average Convergence Divergence (MACD) remains extremely bullish at 0.84, indicating the presence of abundant trading volume supporting this frenzy.

With these promising technical indicators, TRB is seen as being in breakout formation. While the RSI might cause some concern, it could suggest a consolidation phase below $50 until the 20DMA catches up. If TRB manages to break above $50, it could target a price of $60, offering a potential gain of 19.83%. On the downside, if the price retraces, the 20DMA support at $40 becomes a crucial level to watch, potentially leading to a 30.1% decline.

The Emergence of Bitcoin Derivatives: A Gateway to New Opportunities

Source / Bitcoin BSC

The blockchain space is witnessing the rise of various Bitcoin off-shoot projects, known as Bitcoin derivatives. While this term might raise eyebrows, it actually refers to digital assets that leverage the strengths of Bitcoin while addressing its challenges. One such project that has gained significant attention is Bitcoin BSC.

Bitcoin BSC offers familiar tokenomics, including the iconic 21 million token cap, retaining the essence of Bitcoin. However, it goes further by integrating with the Binance Smart Chain (BSC), providing lightning-fast transaction times and minimal fees. Transactions on Bitcoin BSC are confirmed in under five seconds, with fees as low as $0.10, offering enhanced efficiency compared to traditional Bitcoin.

Beyond speed and cost advantages, Bitcoin BSC adopts a proof-of-stake consensus mechanism instead of proof-of-work, addressing environmental concerns while ensuring sustainability. By adopting this greener approach, Bitcoin BSC alleviates the energy concerns associated with traditional cryptocurrencies.

Another notable feature of Bitcoin BSC is its focus on staking. This investment strategy has become a focal point in the decentralized finance (DeFi) space, offering token holders an attractive yield ranging from 8% to 10%. In addition to the lucrative rewards, staking promotes long-term holding, reducing price volatility commonly seen in new crypto projects. BTCBSC distributes an impressive 69% of its total token supply as staking rewards over 120 years, incentivizing holding and promising sustained and stable growth.

Seizing the Opportunity: The BTCBSC Presale

Source / Bitcoin BSC

BTCBSC’s presale offers an exclusive opportunity for early participants. With 29% of the total token supply available at a compelling price of $0.99 per token, comparisons to Bitcoin’s early days in 2011 ignite optimism for BTCBSC’s potential. The presale has already locked liquidity via Unicrypt and is preparing to launch on PancakeSwap, a popular decentralized exchange.

The success stories of other Bitcoin derivatives, such as Bitcoin Cash (BCH) and BTC20, provide a glimpse into the potential of BTCBSC. With its innovative staking model, BTCBSC is poised to emulate or even surpass these achievements. Its advanced features, combined with the trustworthiness of Bitcoin, make BTCBSC an attractive investment opportunity.

As the crypto community eagerly watches BTCBSC’s journey, it becomes clear that this project represents more than just another token. It embodies a movement, a strategy, and most importantly, an opportunity. By joining the BTCBSC revolution, investors align themselves with innovation and promise in the ever-volatile crypto markets.

Disclaimer: Cryptocurrencies are high-risk assets. This article provides informational purposes only and does not constitute investment advice. You should consider the possibility of losing all your capital when investing in cryptocurrencies.

In conclusion, the blockchain industry continues to evolve with the emergence of projects like Tellor and Bitcoin BSC. Tellor’s impressive price surge and trading volume highlight the increasing demand for oracle solutions in connecting real-world data with blockchains. On the other hand, Bitcoin BSC offers enhanced speed, lower transaction fees, and a greener consensus mechanism, making it a desirable Bitcoin derivative.

Both projects showcase the growing interest and innovation within the blockchain industry. As investors evaluate opportunities, they must carefully consider the risks associated with cryptocurrencies. Whether it’s the potential of Tellor’s price movements or the exciting prospects of Bitcoin BSC, the decentralized revolution continues to open doors for new possibilities.

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