Trading fee rebate received: $9.8
Total P&L: $448.32
Here is a video of me making $331 by going long on FIL in 3 seconds!
If you want to receive a trading fee rebate while trading every day like me, go to the this link to sign up to Running Fox or if you need a detailed guide on how to sign up, check this post.
Ticker: STX
Category: Platform, Defi, Smart Contract
Market capitalization: $845,471,747(52nd place)
Circulating Supply: 75%
STX's recent pump of approximately 87% in the last 24 hours has caught many off guard. But what has caused this sudden rise in the token's value? I did some digging to find out.
First, let's take a quick look at what STX is. Stacks Coin (STX) is a token that is used for earning Bitcoin through a unique staking process. Investors can earn STX by staking Bitcoin, and then earn Bitcoin by staking STX.
So what are the factors behind STX's recent surge in value? Here are three potential reasons:
1. SEC Approval: STX is the first cryptocurrency to receive approval from the U.S. Securities and Exchange Commission (SEC) as a non-securities coin. While many investors are unsure of which altcoins will be impacted by SEC regulations, STX is seen as a relatively safe option. This has led to increased investment in the token.
2. Correlation with Bitcoin: Since STX is used to earn Bitcoin, the token's value is closely tied to that of Bitcoin. Despite Bitcoin's recent rebound, STX had not moved as much as Bitcoin until now. However, as Bitcoin's value continues to rise, investors are looking to STX as a way to earn more Bitcoin. This has led to increased demand for STX.
3. Ecosystem Potential: Unlike other platforms such as Ethereum and Solana, STX aims to expand the Bitcoin ecosystem with smart contracts based on Bitcoin. The token has seen success as an ecosystem and investors are hoping for more positive results in the future.
As always, it's important to check the coin distribution. While there is no information about the Vesting (lock-up release schedule), the fact that the current distribution volume is 75% suggests that there is no concern about dumping lock-up releases. While STX's sudden surge may have surprised many, it's clear that the token's unique staking process and potential as a platform have caught the attention of investors.
👉 Register on Running Fox and receive a 30% trading fee rabate
👉 Sign up to Bybit and enjoy a 20% reduction in trading fees
Trading fee rebate received: $13.95
Total P&L: $376.79
Here is a 10-second video of me making $400 by shorting FIL.
If you want to receive a trading fee rebate while trading every day like me, go to the this link to sign up to Running Fox or if you need a detailed guide on how to sign up, check this post.
Filecoin (FIL) has seen a surprising rise in price lately, causing both holders and non-holders alike to take notice. However, a closer look at the overall chart reveals a different story. It's obvious that the coin has experienced significant fluctuations, with the chart resembling that of a scam coin.
Despite this, there is much to be optimistic about. The recent introduction of the File Virtual Machine (FVM), scheduled for March 23rd, brings smart contract functionality to Filecoin. This is significant because it transforms Filecoin into an Ethereum-like Layer 1 blockchain with storage capabilities. For short-term traders, it may be wise to mark this date on the calendar and sell beforehand.
Additionally, a series of short squeezes triggered an explosive rise in price, but it's important to note that the coin supply has prevented FIL from experiencing sustained growth. The distribution supply to the total supply is still only 19.81%, indicating that there is still plenty of room for a large amount to be dumped in large quantities.
 |
| source: https://observablehq.com/@starboard/chart-fil-protocol-circulating-supply |
As seen in the distribution chart, the supply of coins to the market is still increasing. The area under the black arrow shows two factors that cause deflation: the amount of filecoins used as fees and the amount staked. However, it's not being incinerated or staked at the rate of inflation, so coin inflation and selling pressure is inevitable.
 |
| source: https://dropstab.com/coins/filecoin/vesting |
Investment companies' supply lock-up ended in 2022, but the foundation's supply remains, with miners comprising 70% of the total volume. While this presents some challenges, there are positive factors for the price, including the fact that the amount of locked-up investment companies no longer exists, and staking and incineration are steadily increasing. If the volume of staking and incineration can withstand the volume of miners, we can expect to see a steady increase in prices.
 |
| source: https://tokenterminal.com/terminal/projects/filecoin |
Filecoin's steady development and the number of developers consistently hovering around 100 are encouraging signs for the future. Despite the challenges, it's clear that Filecoin is a coin with a trusted developer that has earned the backing of great investors. With the introduction of smart contracts, we look forward to seeing Filecoin continue to build and develop a larger ecosystem.
👉 Register on Running Fox and receive a 30% trading fee rabate
👉 Sign up to Bybit and enjoy a 20% reduction in trading fees
Are you tired of missing out on important market news and opportunities due to buried information in charts? Fear not, because there's a solution for that. Telegram has become one of the most popular and convenient communication tools for traders around the world. In this post, we will be highlighting three of the most popular Telegram channels that every crypto trader should be following.
1. Disclose.tv
Telegram Link: https://t.me/disclosetv
With approximately 420,000 subscribers, Disclose.tv is a Telegram channel that provides breaking news from around the world. Although it does not focus solely on cryptocurrency and the stock market, it sometimes delivers critical breaking news that is related to the market. It's not uncommon for them to release news faster than major media companies. With so many subscribers, it's safe to say that they are trusted by many people.
2. Layergg Exchange & Project Alert
Telegram Link: https://t.me/layergg
Layergg Exchange & Project Alert is a Telegram channel that provides real-time listing information on major exchanges. Being the first to know when a coin pumps is important in the world of trading. Often, there are favorable factors or the coin gets listed on major exchanges, and being able to hear about these listings before anyone else can lead to making a quick profit. This channel also provides information on various events such as trading competitions held by exchanges.
3. 100eyes Crypto Scanner
Telegram Link: https://t.me/CryptoScanner100eyes
The 100eyes Crypto Scanner is a Telegram channel that notifies subscribers when sudden movement occurs for major coins like BTC, ETH, LTC, and XRP. This channel is great because it notifies traders even when they are not actively watching the charts, so they can take action when necessary. Additionally, based on RSI indicators, it informs subscribers of the expected rise/fall and alerts them when prices reach key support and resistance lines. If you're serious about trading, we recommend turning off notifications on other channels and always having this channel on.
In conclusion, these three Telegram channels can provide a wealth of information and help you stay on top of the latest developments in the cryptocurrency and stock market. If you are a trader who wants to be informed about every opportunity in the market, we recommend subscribing to these channels today!
👉 Register on Running Fox and receive a 30% trading fee rabate
👉 Sign up to Bybit and enjoy a 20% reduction in trading fees
The recent rise in Bitcoin's price has many traders contemplating shorting the market, but going short is a game with a steeply decreasing winning rate over time. Although shorting can bring a lot of money depending on the market, it is disadvantageous because almost all asset markets have historically been upward. Even in the crypto market, especially with altcoins, the trend has been upward when the market heats up.
Shorting also carries the risk of unlimited losses, which can lead to liquidation even with a small position. It is crucial to always think about and prepare for all possibilities before entering a short position. If you take a short position, you need to decide on the price and hang a cut line to minimize your risk.
As a trader, I have found that I earn more by going long than short. I rarely go into a short position, and when I do, I hang the stop-loss right away, hold it for up to 1 to 3 minutes, and sell it right away. Unlike long positions, which are more aggressive, short positions are always approached conservatively.
The saying "You can print money by pressing the short button" is popular in bear markets, but this mentality can lead to overconfidence and significant losses in the long run. When you take a short position, you need to think about it carefully and consider all possibilities.
In conclusion, shorting in the crypto futures market is a risky game that requires a lot of thought and preparation. If you must take a short position, always hang a cut line to minimize your risk. As a trader, it is essential to develop the ability to consider all possibilities and prepare accordingly, rather than seeing only one possibility for instantaneous revenue.
👉 Register on Running Fox and receive a 30% trading fee rabate
👉 Sign up to Bybit and enjoy a 20% reduction in trading fees
Scalping is a trading strategy that involves buying and selling quickly in order to take advantage of small price movements in the market....
