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A widely followed crypto analyst is predicting a massive surge for one little-known altcoin and updating his outlook on Binance Coin (BNB) and Ethereum (ETH).
The pseudonymous trader known as Crypto Capo tells his 536,000 Twitter followers that he expects ETH-based Reserve Rights (RSR), which facilitates the stability of stablecoin Reserve Token (RSV), to spark a 165% rally.

“Bought some RSR after the deviation below the blue level. Mainnet almost complete.” 
Source: Altcoin Sherpa/Twitter
The trader’s charts indicate that he believes RSR will spike to $0.017 before crashing down to its lowest level in a year. He also mentions the token’s mainnet, which is 99% complete.
RSR is moving for $0.0064 at time of writing.
The analyst then turns his attention to BNB, the native asset of Binance, the world’s largest crypto exchange platform by volume. He says he expects BNB to rise to $297.50, a 10.2% increase from its current price of $298.98, before also crashing down to its July levels.
 “Move down from the top of wave A looks 3 wavy, so after the deviation it’s probably a flat pattern. Top of the wave C would be 1:1 of A. Target = $297.50.” 
Source: Altcoin Sherpa/Twitter
Crypto Capo concludes his analysis by turning his attention to ETH, saying that the leading smart contract platform is bouncing from a key support level and should offer a good risk-to-reward ratio for investors.
 “Bouncing from key support with some regular bullish divergences. First TP [take profit] is the neckline of the H&S [head and shoulders pattern], offering a good risk reward.” 
Source: Altcoin Sherpa/Twitter
ETH is changing hands for $1,272, a 5% dip on the day.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/ValDan22
The post Crypto Analyst Says One Ethereum-Based Altcoin To Explode 165%, Eyes Path Ahead for Binance Coin (BNB) and ETH appeared first on The Daily Hodl.


A widely followed crypto analyst is predicting a massive surge for one little-known altcoin and updating his outlook on Binance Coin (BNB) and Ethereum (ETH). The pseudonymous trader known as Crypto Capo tells his 536,000 Twitter followers that he expects ETH-based Reserve Rights (RSR), which fac...

dailyhodl.com

Crypto Analyst Says One Ethereum-Based Altcoin To Explode 165%, Eyes Path Ahead for Binance Coin (BNB) and ETH

From September 22, ShareRing app users can directly swap $SHR between BNB Smart Chain and ShareLedger (SLP3) without first converting to Ethereum ERC-20 token.
ShareRing said the decision to slash conversion steps from three to two would drastically boost efficiency, lower the cost of conversion, and save time.
$SHR is native to ShareLedger, a Leased Proof-of-Stake blockchain that’s scalable and energy efficient. Compliant with the ShareRing standard, the token is primarily used to pay transaction fees. However, because the token is cross-chain and can be held in various blockchains, including the BNB Chain, and Ethereum, all $SHR transactions can be tracked on the ShareLedger blockchain. There is a trail that prevents fraud by ensuring a simple and reliable tracking mechanism on the ShareLedger blockchain.
Before this announcement, $SHR token holders were required to shift their BEP-2 token first to the BEP-20 version in the BNB Chain through the non-custodial Binance Wallet. In the second step, they had to move the newly converted BEP-20 $SHR to Ethereum as an ERC-20 token through the Multichain Bridge. Afterward, they had to move them to ShareLedger (ShareRing App) as an SPL3 token.
This three-step procedure was not only tedious but consumed many resources. Notably, there was a risk of users paying high transaction fees when shifting the $SHR token via Ethereum. This is because Ethereum is the world’s most active blockchain that continues to face scaling challenges, forcing Gas fees to outrageous levels. Depending on network activity levels, simple conversions, including transfers, can dent a sender requiring them to pay high fees that they would not otherwise spend in the BNB Chain or ShareLedger.
By eliminating the need to move to Ethereum via the Multichain Bridge, ShareRing is tirelessly continuing with its objective of refining the user experience and working on improving the liquidity of the $SHR cross-chain token. While the Multichain Bridge will continue to serve users wishing to move tokens between Ethereum and the BNB Chain ecosystems, the decision to convenience users wishing to bypass Ethereum when transferring between ShareLedger and Binance is welcomed.
To conclude with this updated swap module there will be faster transactions, cheaper gas fees, improved efficiency when swapping $SHR into SLP3 and usage of EIP712 to sign and verify the approvals on smart contract side. Also, it reduces the usage of centralized database for keeping transactional data and it improves overall performance.
This feature comes amid ShareRing’s drive to build an active, cyclic ecosystem that leverages features made possible by smart contracts and blockchain. ShareRing recently announced the NFT Simple Event feature available on the ShareRing Application designed for organizing and managing events. By integrating NFTs, the host can, in real-time, be assured that attendees are the ones invited, all while keeping their data private.
 
 


From September 22, ShareRing app users can directly swap $SHR between BNB Smart Chain and ShareLedger (SLP3) without first converting to Ethereum ERC-20 token. ShareRing said the decision to slash conversion steps from three to two would drastically boost efficiency, lower the cost of conversion,...

newsbtc.com

ShareRing Enables Direct $SHR Swapping Between BNB Chain and ShareLedger

The AvengerDAO is developed in association with some of the leading blockchain security analytic firms and top DeFi projects in the crypto ecosystem. 

cointelegraph.com

BNB Chain launches a new community-run security mechanism to protect users 

Binance CEO Changpeng Zhao says that the limited supply of cryptocurrencies, particularly large-cap assets like Bitcoin (BTC), Ethereum (ETH) and Binance Coin (BNB) could soon break from their correlation with the stock market.
In a new interview on CNBC, Zhao says that unlike fiat, the amount of digital assets that can go into circulation is limited.

“I think like we’re one year in from the previous all-time high. The inflation, the interest rate, the adjustments, etc., those all affect the markets, but those are short-term.
I think longer-term, given how much money was printed over COVID the last couple years, and the amount of quantitative easing that was done, inflation would definitely kick in just by simple logic.
Cryptocurrencies, the big ones – Bitcoin, BNB coin, Ethereum, they’re limited supply, so their supply didn’t increase. The number of people getting into this industry and the utility, the number of people who need to use those coins have increased. The demand has increased, but today, unfortunately.”
Zhao says that he expects a decoupling between crypto and stocks but a correlation in market conditions emerged because people invest in both equities and digital assets. 
“In theory, if we go by supply and demand, there’s a very simple logic to derive from that, but today, many people trading cryptocurrencies are also in the stock market so when the stock market tanks, people want to hold cash and they also sell cryptocurrencies. So today, on the short time frame, it’s kind of coupled, but in theory, they should be decoupled.”
Looking at Ethereum’s successful merge to proof-of-stake, Zhao says those in the space should manage their expectations since the anticipated changes will not take effect right away.
“Many people have very high short-term expectations for the merge. They think the Ethereum gas fees will drop from $10 per transaction to $0.02 overnight. That’s most likely not gonna happen. It’s a long process. The Ethereum upgrade takes multiple stages over multiple months or years.”

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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The post Binance CEO Changpeng Zhao Says Bitcoin, Ethereum and Rest of Crypto Should Decouple From Stocks – Here’s Why appeared first on The Daily Hodl.


Binance CEO Changpeng Zhao says that the limited supply of cryptocurrencies, particularly large-cap assets like Bitcoin (BTC), Ethereum (ETH) and Binance Coin (BNB) could soon break from their correlation with the stock market. In a new interview on CNBC, Zhao says that unlike fiat, the amount of...

Binance CEO Changpeng Zhao Says Bitcoin, Ethereum and Rest of Crypto Should Decouple From Stocks – Here’s Why

BNB price has entered a symmetrical triangle formation, and the conflicting trends will decide the fate of the altcoin as it battles near $280.

BNB price	$273.24
Low - High 24H	$272.12 - $279.20
Market cap	$44.59B
Volume 24H	$575.34M
All time high	$686.31 -60.21% May 10th 2021
All time low	$0.039818 685801.16% October 19th 2017
Genesis date	N/A

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