Have you ever wished that you could earn money while doing something that you love? It is possible with a blockchain-based game called Axie Infinity that allows players to do that. Smooth Love Potion or SLP Token (Trade it here — SLP/USDT) is an integral element of the game, and here you will find everything you might need to know about it.

What Is Smooth Love Potion (SLP)?

Smooth Love Potion (SLP) tokens are earned by playing the Axie Infinity game. This digital asset serves as a replacement for experience points.

SLP are ERC-20 tokens, and they can be used to breed new digital pets that are known as Axies. The cost of breeding begins at 100 SLP but increases gradually — rising to 200 SLP for the second breed, 300 for the third, 500 for the fourth, 800 for the fifth and 1,300 for the sixth. Axies can be bred a maximum of seven times, and the seventh breed costs 2,100 SLP. This limit exists in order to prevent hyperinflation in the marketplace.

It can take time to accrue SLP through the game, and a player may need to win 15 competitions in order to gain enough tokens to perform their first breed. Purchasing SLP on the open market is a way for gamers to get a head start.

What Makes Smooth Love Potion Unique?

It’s fairly unusual for in-game currency to be listed on exchanges as SLP has. In a way, it’s like Nintendo deciding to tie monetary value to the coins used in Super Mario.

Nguyen says Axies are different from other non-fungible tokens because of how they need to be nurtured if they are going to have any chance of reaching adulthood.

SLP is also unique because of how it has become one of the few in-game tokens to be listed by Binance in its Innovation Zone. The exchange has reserved this trading category for assets “that are likely to have higher volatility and pose a higher risk than other tokens.”

SLP Token

SLP Token can be traded on decentralized exchanges and used to purchase items outside of the game. Let us explore the various use cases of SLP.

The primary use case of SLP is buying and selling Axies, the cute little creatures that you can collect and train in Axie Infinity. Each Axie has unique stats and skills, making it valuable in gameplay and collecting. You can buy Axies using either ETH or SLP, but the prices are often much higher in SLP.

• Minting
  SLP is used to mint new Axie game items, like the Mystic class of Axies. Whenever a new item is minted, a portion of the total supply of SLP is burned, reducing the supply and increasing the value of each remaining token.
• Trading on decentralized exchanges
  In addition to buying and selling Axies, you can also trade SLP on decentralized exchanges (DEX). This allows you to speculate on the price movements of the token without having to go through a centralized exchange. Since SLP is an ERC20 token, it’s compatible with all major DEXs, such as Uniswap, Kyber Network, and 0x Protocol.
• Payments and tips
  Another use case of SLP is payments and tips. You can use the token to pay for goods and services or tip someone for their content or work. This is similar to how you would use ETH or any other cryptocurrency. But since SLP has a limited supply, it could potentially be more valuable than other cryptocurrencies in the long run. This makes it a good choice for payments and tips if you’re looking to hold onto your value.

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The content of this webpage is not investment advice and does not constitute an offer or solicitation to offer or recommendation of any investment product. It is for general purposes only and does not take into account your individual needs, investment objectives, and specific financial circumstances. Investment involves risk.

This disclaimer informs readers that the MEXC Creator’s content, views, thoughts, and opinions expressed in the articles belong solely to the creators and authors, and not to MEXC Global itself. MEXC Global doesn’t give any investment recommendations or advice.

Smooth Love Potion (SLP) — The Axie Infinity Metaverse Token was originally published in MEXC Global on Medium, where people are continuing the conversation by highlighting and responding to this story.

Three days since launch and the new version of LUNA cryptocurrency is exhibiting massive price swings becoming gamblers’ paradise. After the airdrop last Saturday, MEXC listed LUNA 2.0 (LUNA/USDT) with an opening price of 0.5 which then swung between 5.18 to 19.5 USDT.

What is Terra 2.0 (LUNA)?

Terra (LUNA) is a public blockchain protocol that emerged from Terra Classic. Terra Classic is home to the algorithmic stablecoin TerraClassicUSD (UST). Luna 2.0 is now named LUNC token collateralized UST, which crashed in a bank run in May 2022. That devalued LUNA to virtually zero and caused a launch of a new chain — resulting in Terra Classic and Terra.

The development of Terra Classic launched in January 2018 and the blockchain launched in April 2019. It attempted to combine the price stability and wide adoption of fiat currencies with the censorship-resistance of Bitcoin and offer fast and affordable settlements through its UST stablecoin. Terra Classic offered stablecoins pegged to the U.S. dollar, South Korean won, Mongolian tugrik, and the International Monetary Fund’s Special Drawing Rights basket of currencies.

The new Terra blockchain continues the legacy of Terra Classic without the UST stablecoin. It will keep building with the help of the LUNA community dubbed “LUNAtics” and evolve the world-class UX and UI that brought Terra Classic up to second place in total value locked (TVL) at its peak. Many DApps have agreed to migrate to Terra to continue their functionality.

What Makes Terra 2.0 Unique?

Terra will continue without its algorithmic stablecoin UST and aims to preserve the Terra ecosystem with hundreds of developers working on different decentralized applications. The LUNA 2.0 token will be airdropped across Luna Classic stakers, holders, residual UST holders and essential Terra Classic app developers. Terra removed the wallet of Terra Foundation Labs for the airdrop event, making Terra a fully community-owned chain.

The airdrop will be carried out according to two snapshots taken, one before the Terra Classic crash (May 7) and one after it (May 27). The eligibility for the airdrop is as follows:

• Holding the following assets on the May 7 snapshot:

Luna Classic (LUNC) (including staking derivatives)

Less than 500k aUST (UST deposited in Anchor)

• Holding the following assets on the May 27 snapshot:

Luna Classic (LUNC) (including staking derivatives)

UST

At Genesis, 30% of the LUNA airdrop will be immediately available to pre-attack users with wallets that had less than 10k LUNA (including staking derivatives) or deposited UST in Anchor, and post-attack users with any quantity of LUNA (including staking derivatives), UST, or both.

LUNA 2.0 Token

Terra (LUNA) has a supply of 1 billion tokens. It will be distributed as follows:

• Developer mining program: 8%, Essential app developers earn a share of the mining program proceeds pro-rata to the amount of TVL every quarter for 4 years.
• Developer alignment program: 1.5%, Protocol teams that were live in Terra Classic divide this allocation weighted by the last 30 day TVL from Pre-attack snapshot — 1-year cliff, 3 years vesting thereafter. Accommodations will be made for apps where TVL is not applicable.
• Emergency allocation to app developers: 0.5%, Immediately after network launch to provide for runway while they build out the product. Commit to returning funds if the product has not been launched in 1 year.
• Community pool: 20%, controlled by staked governance
• Pre-attack LUNA holders: 35%, all bonded / unbinding Luna, minus TFL at “Pre-attack” snapshot; staking derivatives included
• For wallets with <10k Luna: 30% unlocked at genesis; 70% vested over 2 years with 6-month cliff
• For wallets with <1M Luna: 1-year cliff, 2 years vesting thereafter
• For wallets with >1M Luna: 1-year cliff, 4 years vesting thereafter
• Pre-attack aUST holders: 10%
• 500K whale cap — covers up to 99.7% of all holders but only 26.72% of aUST
• 30% unlocked at genesis; 70% vested over 2 years thereafter with 6-month cliff
• Post-attack LUNA holders: 10%
• Staking derivatives included
• 30% unlocked at genesis; 70% vested over 2 years thereafter with 6-month cliff
• Post-attack UST holders: 15%
• 30% unlocked at genesis; 70% vested over 2 years thereafter with 6-month cliff

How is the Terra Network Secured?

The Terra blockchain is secured using a proof of stake consensus algorithm based on Tendermint, in which LUNA token holders stake their tokens as collateral to validate transactions, receiving rewards in proportion to the amount of LUNA staked. Terra will incentivize network security by providing staking rewards of 7% annual inflation. This is to align the interest of validators with the long-term success of the Terra ecosystem.

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The content of this webpage is not investment advice and does not constitute an offer or solicitation to offer or recommendation of any investment product. It is for general purposes only and does not take into account your individual needs, investment objectives, and specific financial circumstances. Investment involves risk.

This disclaimer informs readers that the MEXC Creator’s content, views, thoughts, and opinions expressed in the articles belong solely to the creators and authors, and not to MEXC Global itself. MEXC Global doesn’t give any investment recommendations or advice.

Terra 2.0 (LUNA) — With Wild Price Swings, the New LUNA Has Become Gamblers’ Paradise was originally published in MEXC Global on Medium, where people are continuing the conversation by highlighting and responding to this story.

Crypto prices have been exploring new lows for weeks and currently, it’s unclear what it will take to reverse the trend. Despite the downtrend, cryptocurrencies within the Polkadot (DOT/USDT — Trade it here) ecosystem began to rally on May 24 and have managed to maintain gains ranging from 10% to 25%, a possible sign that certain sub-sectors of the market are on the verge of a breakout.

What Is Polkadot (DOT)?

Polkadot is an open-source sharded multichain protocol that connects and secures a network of specialized blockchains, facilitating the cross-chain transfer of any data or asset types, not just tokens, thereby allowing blockchains to be interoperable with each other. Polkadot was designed to provide a foundation for a decentralized internet of blockchains, also known as Web3.

Polkadot is known as a layer-0 metaprotocol because it underlies and describes a format for a network of layer 1 blockchains known as parachains (parallel chains). As a meta protocol, Polkadot is also capable of autonomously and effortlessly updating its own codebase via on-chain governance according to the will of its token holder community.

Polkadot provides a foundation to support a decentralized web, controlled by its users, and to simplify the creation of new applications, institutions and services.

The Polkadot protocol can connect public and private chains, permissionless networks, oracles and future technologies, allowing these independent blockchains to share information and transactions through the Polkadot Relay Chain (explained further down).

Polkadot’s native DOT token serves three clear purposes: staking for operations and security, facilitating network governance, and bonding tokens to connect parachains .

Polkadot has four core components:

• Relay Chain: Polkadot’s “heart,” helping to create consensus, interoperability and shared security across the network of different chains
• Parachains: independent chains that can have their own tokens and be optimized for specific use cases
• Parathreads: similar to parachains but with flexible connectivity based on an economical pay-as-you-go model
• Bridges: allow parachains and parathreads to connect and communicate with external blockchains like Ethereum

What Makes Polkadot Unique?

Polkadot is a sharded multichain network, meaning it can process many transactions on several chains in parallel (“parachains”). This parallel processing power improves scalability.

Custom blockchains are quick and easy to develop using the Substrate framework and Substrate blockchains are designed to be easy to connect to Polkadot’s network. The network is also highly flexible and adaptive, allowing the sharing of information and functionality between participants. Polkadot can be automatically upgraded without the need for a fork in order to implement new features or remove bugs.

The network has a highly sophisticated user-driven governance system where all token holders have a vote in how the network is run. Teams can customize their own blockchain governance on Polkadot based on their needs and evolving conditions. Nominators, validators, and collators all fulfil various duties to help secure and maintain the network and eradicate bad behaviour.

At the end of 2021, Polkadot successfully concluded its first Parachain auctions. The Parachain auctions followed an un-permission candle auction system. The winning bid is the highest bid at the random moment the auction ends.

Polkadot assigned the first five slots to the following auction winners: Acala, Moonbeam, Astar, Parallel and Clover. These projects will have their para chain slots locked in for 96 weeks, guaranteed by the DOT bidders committed as collateral. As customary on Polkadot, all projects had previously been battle-tested on its de-facto testnet Kusama.

DOT Token

Following the network’s redenomination after a referendum on Polkadot, DOT balances increased by 100, so one old DOT was equivalent to 100 new DOT. This meant that the initial maximum supply of 10 million old DOT in August 2020 became 1 billion new DOT tokens. The redenomination was undertaken purely to avoid the use of small decimals and make the calculation easier. While all balances were increased by a factor of one hundred, this did not impact the distribution of DOT or holders’ proportional share.

Polkadot’s first initial coin offering (ICO) was held in October 2017, and the Polkadot price was $0.29, with 2.24 million tokens offered. The second ICO was held in July 2020, and the Polkadot price offered was $1.25, and 342,080 DOT tokens were sold.

How Is the Polkadot Network Secured?

The network uses an NPoS (nominated proof-of-stake) mechanism with validators and nominators. Nominators back validators with their tokens. These staked tokens maximize chain security by making it prohibitively expensive to misbehave.

Validators are staked on the Relay Chain and confirm transactions coming from the different parachains. This unique validity scheme enables chains to interact with each other securely under the same rules, yet remain independently governed.

Interested in tokens like DOT?

MEXC constantly searches for new moonshots, keep an eye on our Kickstarter and other listing events — we have more GEMs to come! Moreover, visit the altcoins section to find more hot tokes that were listed already. If you would like to know more about crypto trading itself visit MEXC Academy.

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The content of this webpage is not investment advice and does not constitute an offer or solicitation to offer or recommendation of any investment product. It is for general purposes only and does not take into account your individual needs, investment objectives, and specific financial circumstances. Investment involves risk.

This disclaimer informs readers that the MEXC Creator’s content, views, thoughts, and opinions expressed in the articles belong solely to the creators and authors, and not to MEXC Global itself. MEXC Global doesn’t give any investment recommendations or advice.

Polkadot — Web 3 Foundation’s Highly-Anticipated Robust Blockchain Platform was originally published in MEXC Global on Medium, where people are continuing the conversation by highlighting and responding to this story.

Green Satoshi Token (GST — Trade it here) was listed in MEXC Assessment Zone on March 4 with an opening price of 1.0 USDT, the highest price hit 9.4 USDT, marking 940% growth!

What Is Green Satoshi Token?

Green Satoshi Token is the game token of STEPN — a Web 3.0 lifestyle app with in-built fun social elements and gamification design. STEPN is the first move-to-earn NFT game where players earn GST tokens by walking, jogging and running outdoors while wearing NFT Sneakers. GST tokens can also be used to level up and mint new Sneakers, and players can sell/rent their NFT sneakers on the App Marketplace.

The goal of the project is to encourage the world’s population to lead a healthy and active lifestyle, as well as to acquaint people with the concept of Web 3.0. The STEPN platform is originally powered by Solana and uses a dual-token mechanism where Green Satoshi Token is the currency in the game and Green Metaverse Token is the governance token.

To become a part of the community, a user first downloads the STEPN mobile app registers an account and creates a wallet. The user then deposits SOL tokens to the built-in STEPN wallet, goes to the in-app Marketplace, buys NFT Sneakers and waits 24 hours for “energy” replenishment (energy is time user workouts, in minutes, the indicator recovers at a rate of 25% every 6 hours).

What makes Green Satoshi Token unique?

The STEPN team intends to make a breakthrough by incorporating social and community elements into their product, giving fans of an active lifestyle the opportunity to earn cryptocurrency from their passion for running.

STEPN is based on the Move-to-Earn (move2earn or M2E) concept. In 2021, the project participated in the Solana Ignition Hackathon Gaming Track, taking first place and becoming the only mobile NFT game to win the hackathon. STEPN attracted the attention of the judges and received approval due to the game design, user-friendly interface, and built-in tools like Wallet & Marketplace.

GST Token

GST is the utility token of the STEPN ecosystem, it’s used as an in-game currency and alternative to experience points. GST is required for repair, upgrade and mint NFT Sneakers. GST can be earned when users move in Solo mode or Background mode.

Players receive GST via the STEPN app, tokens are generated in walking/running/walking modes. Investors can also earn GST by renting out their NFTs to platform users or new players.

GST tokens can also be donated to purchase Carbon Removal Credit on the blockchain, supporting the concept of carbon neutrality to combat climate change and contributing to environmental protection.

GST is an inflationary token with no defined maximum supply and with a total supply of 10,000,000 coins. Once used, the GST token is automatically burned to reduce the supply. Here are the specific cases where burning (destroying) occurs: shoe-minting, repairing pairs of shoes, levelling up NFT-Sneakers, adding gems/gems upgrade, unlocking new socket, resetting Sneaker attributes.

How Is the Green Satoshi Token Network Secured?

STEPN, a move2earn mobile NFT game, as well as its utility token — GST, are powered by Solana. The security of the Solana network is built on a unique combination of Proof-of-History (PoH) and Proof-of-Stake (PoS) consensus mechanisms. PoH is the main component of the protocol that processes the bulk of the network’s transactions, recording successful operations and time between them, while PoS is used as a monitoring tool for running PoH processes.

Interested in crypto like GST?

MEXC lists moonshots with the speed of light, keep an eye on our listings — we have more great projects to come! Moreover, visit the altcoins section to find more hot tokes that were listed already. If you would like to know more about crypto trading itself visit MEXC Academy.

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The content of this webpage is not investment advice and does not constitute an offer or solicitation to offer or recommendation of any investment product. It is for general purposes only and does not take into account your individual needs, investment objectives, and specific financial circumstances. Investment involves risk.

This disclaimer informs readers that the MEXC Creator’s content, views, thoughts, and opinions expressed in the articles belong solely to the creators and authors, and not to MEXC Global itself. MEXC Global doesn’t give any investment recommendations or advice.

Green Satoshi Token (GST Token) — Another Coin From STEPN was originally published in MEXC Global on Medium, where people are continuing the conversation by highlighting and responding to this story.

This article will briefly describe the basic concepts, characteristics and usage of technical analysis.

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What is Technical Analysis?

The two core concepts in technical analysis are:

• Market behaviour includes all information
• Financial history will repeat itself.

Technical analysis uses the law of supply and demand to establish a set of financial market analysis methods. They are used for analyzing market trends and predicting future market trends. In the field of cryptocurrency, the technical analysis includes analysis of various indicators (Candlestick patterns, trend analysis, volume-price analysis, divergence, etc.). Investors can infer market conditions based on historical prices and trading volumes. The results from such inferences are used to determine the best buying/selling point. It is one of the most commonly used and effective market analysis methods in the field of cryptocurrency trading.

Furthermore, quantitative strategies are established based on technical analysis, making it the foundation for quantitative trading.

Advantages and disadvantages of technical analysis

Advantages: Technical analysis allows us to have an overall sentiment of the supply and demand in the market. Since the market is a game of buying and selling, market sentiment is shaped by two opposing forces. Mastering and using the patterns allow investors to react to the market shifts promptly.

Disadvantages: Technical analysis requires the accumulation of professional knowledge and investment experience, and it is difficult for beginners to master. In cryptocurrency, non-mainstream currencies cannot form reliable and effective technical analysis results due to their market capitalization, volume and liquidity. Therefore, the more niche currencies are, the less suitable technical analysis is for analysis.

Examples of technical analysis indicators

Technical analysis involves multiple indicators, each of which corresponds to different market sentiments. Through the indicators, it is possible to determine whether the market has room for continued rise or fall.

• Support and Resistance

A support level is the lowest price level within a cyclical time period and is typically formed when the lowest price level cannot be broken downwards. The underlying principle of support level is that during this period of time, the sellers are collectively optimistic about the long-term market environment. When there is a high demand, it is unlikely that the price will fall below the support level. It is because the market supply is not enough for the price to be tested at a lower level.

The breaking down of the support level can be observed when volume decreases and the price consolidates, which can be represented by the long upper shadow, inverted hammer and gravestone Doji.

The resistance level (pressure level) indicates that the price reaches the top within a cyclical time period, and the price has been unable to break upwards. The underlying principle of pressure level is that the sellers continue to supply at this price level and buyers do not have enough buying power to push the price above resistance.

The breaking up of the resistance level can be observed when volume decreases and the price consolidates, which can be represented by the dragonfly Doji, hammer and long lower shadow.

• Moving Average (MA)

A moving average is a statistical analysis method that shows the average asset price over a certain period of time in a linear fashion. There are three types of moving averages that are most commonly used in technical analysis in the cryptocurrency field, the 5-day moving average (MA5), the 10-day moving average (MA10) and the 30-day moving average (MA30). In MEXC’s trading platform, it is represented by three thin lines in red, yellow and blue in the candlestick chart.

1. Follow trends
   The moving average is consistent with the trend in the candlestick patterns, which can eliminate the “noise” caused by randomness in the market. Moving average allows investors to accurately and objectively see the cyclical trend. The trend and crossover of the three moving averages can be used as signals.
   In the above picture, BTC has dropped to 39602, but the moving average has little to no fluctuations. The price closes above the moving averages, indicating holding costs are higher than all the MAs. When the price is 39602, the market will inevitably adjust itself, resulting in a reversion to the mean.
2. Lagging indicator
   The changes in the moving average are relatively slow and often lag behind the change in currency price. Therefore, market expectations derived from moving averages are generally more applicable for longer investment horizons.

Technical analysis also includes commonly used indicators such as Bollinger Bands (BOLL), Parabolic Stop and Reverse (SAR), and Exponential Moving Average (EMA). When you are more familiar with these basic indicators, you can proceed with the relative strength indicator (RSI), DMI trend indicator, and On-Balance-Volume (OBV) for technical analysis of the market.

Summary

Technical analysis is based on the concepts of “market behaviour includes all information”, and “financial history will repeat itself”. The formation of market patterns in a period is applicable to other periods. An experienced trader can obtain huge returns by seizing opportunities using technical analysis — which explains why it is also one of the most popular analysis methods for investors in the market.

Market trends are the results of human activity, and it is impossible for any technical analysis method to completely cover every single aspect. Therefore, technical analysis cannot be applied to every single market condition. When investing, only the history is certain.

What is Technical Analysis? was originally published in MEXC Global on Medium, where people are continuing the conversation by highlighting and responding to this story.

Buy your first Ethereum with a trading discount here.

Introduction to Ethereum 2.0

Ethereum 2.0, also known as Serenity or ETH2.0, aims to solve the scalability and security problems of the current Ethereum network. The ETH2.0 testnet was launched at the end of April 2020, and the ETH2.0 mainnet was officially launched in December 2020. Since then, the era of Ethereum 2.0 has officially arrived.

Ethereum 2.0 is divided into the following three phases:

Beacon Chain: Beacon Chain was introduced to synchronize all shard chains and provide consensus for all shard chains. This is a key component and was introduced by Serenity to ensure information sharing between shard chains.

Shard Chain: In Ethereum, anyone who wants to evaluate the Ethereum network has to go through a node. A node is a copy of the entire network to perform some function. Shard chains contain only a specific part of the blockchain, reducing the amount of data that nodes have to manage, leading to higher efficiency.

Ethereum 2.0 vs Ethereum 1.0

• From Proof of Work (PoW) to Proof of Stake (PoS)

The Ethereum consensus mechanism is Proof of Work, while Ethereum 2.0 will use Proof of Stake. Proof of Work (PoW) in Ethereum aims to reward miners for creating and validating blocks on the blockchain. However, such a mechanism limits its scalability because as the blockchain grows, it requires more constant computing power. Proof of Stake (PoS) was introduced to bring in more validators, i.e. anyone with at least 32 ETH can get paid for validating and confirming transactions.

The advantage of PoS is that it is more energy-efficient than PoW, decoupling energy-intensive computer tasks from the consensus algorithm. This also means that you don’t need a lot of computing power to keep the blockchain secure.

• Ethereum 2.0 has better scalability

Ethereum has always been known as the king of the public chain. Many popular projects are running on the Ethereum public chain, such as DeFi in the summer of 2020, and NFT & DAOs in 2021. However, Ethereum network congestion and high gas fees have been criticized by users. The reason is that in Ethereum 1.0, the network can only support around 30 transactions per second, which causes delays and congestion. Ethereum 2.0 achieves up to 100,000 transactions per second by implementing shard chains to solve the problem of scalability.

• Ethereum 2.0 will be more secure

The planning of Ethereum 2.0 also takes security into account. At least 16,384 validators are required to deposit ETH on Ethereum 2.0, which makes it more decentralized and secure. At the same time, the Ethereum Foundation has established a dedicated security team to serve Ethereum 2.0 and detect possible network security problems in cryptocurrencies.

Pros and Cons of Ethereum 2.0

Ethereum 2.0 provides a better and more efficient way to develop applications on more secure “shards”. This increases its scalability as the PoS system allows more validators, increasing the speed of all transactions. With more validators, the gas fee will be more stable and thus more economically sustainable.

Having said that, the timeline for Ethereum 2.0 to become fully operational remains unclear. With this uncertainty, betting on Ethereum becomes less attractive as funds can only come in before Phase 1.5 kicks off. The Ethereum team has delayed the launch of Phase 0 several times. Similar delays in other stages are also likely.

Conclusion

Ethereum 2.0 upgrades the PoS mechanism and makes in-depth references to data sharding. It is believed that it will attract more projects and users, and sit firmly on the throne of the king of the public chain. However, the PoW consensus mechanism ecology of ETH1.0 has formed a large system, accumulated a large number of native users and excellent development teams, and will continue to exist on ETH1.0.

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The content of this webpage is not investment advice and does not constitute an offer or solicitation to offer or recommendation of any investment product. It is for general purposes only and does not take into account your individual needs, investment objectives, and specific financial circumstances. Investment involves risk.

This disclaimer informs readers that the MEXC Creator’s content, views, thoughts, and opinions expressed in the articles belong solely to the creators and authors, and not to MEXC Global itself. MEXC Global doesn’t give any investment recommendations or advice.

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What is Ethereum 2.0? was originally published in MEXC Global on Medium, where people are continuing the conversation by highlighting and responding to this story.

BUY STABLECOINS HERE

The earliest stablecoin is USDT (Tether), which was issued by Tether in 2014, and its value is pegged to the US dollar. Tether claims that when a certain amount of USDT is issued, a corresponding amount of U.S. dollars will be deposited in its official account, that is, the issued USDT tokens will be equivalent to the amount of U.S. dollars in their bank accounts. The exchange ratio is 1:1 and users can conduct fund inquiries on the Tether platform to ensure transparency. Such a mechanism gives users full protection and security.

In addition, there are other stablecoins such as USDC and DAI that are widely used by the users, which are also anchored to the US dollar price and maintain an exchange ratio of 1:1.

Stablecoin’s Categories & Pros and Cons

Stablecoins are usually divided into three categories: Fiat-Collateralized, Cryptocurrency-Collateralized, and Unsecured stablecoins. Fiat-Collateralized stablecoins such as USDT and USDC are the most popular stablecoins in the market. The disadvantage of this stablecoin is that it is centralized, opaque, and has no guarantee of storing funds or redeeming tokens. Questions about the collateral have been raised (such as the safety of reserve dollars and the exact amount of reserve dollars), but the Fiat-Collateralized stablecoin has managed to prevail through the uncertainty.

Cryptocurrency-Collateralized stablecoins are similar to the Fiat-Collateralized stablecoins, with the main difference being that they are collateralized with cryptocurrencies, such as DAI. The collateral itself is a decentralized cryptocurrency, so the credit problem is solved. This approach allows users to create stablecoins by locking up collateral that exceeds the total amount of stablecoins. However, the problem also lies in the collateral — the cryptocurrency’s value fluctuates greatly and may drop in value dramatically, affecting the underlying backed value of the stablecoin.

Unsecured stablecoins are also known as algorithmic stablecoins. These coins, such as UST, do not require any collateral to back them up. Its value anchoring is completely achieved through algorithms and smart contracts, which manage the supply of issued tokens and maintain stable prices by adjusting the total supply of the tokens. The downside of such stablecoins is that stability is often maintained by centralized mechanisms, or unclear and complex monetary policy. Most of the unsecured stablecoins can be highly volatile.

Why do we need stablecoins?

Compared to fiat currencies, the cryptocurrency market is often volatile, and the value of tokens can be much higher or lower than when they were transferred. This makes it difficult for investors to store their digital cash. Stablecoins can solve this problem. The value of stablecoin is closely related to the underlying asset or fiat currency, which can provide stable valuations. Stablecoins can also maintain their stability through various mechanisms. As such, stablecoins can be considered a trusted asset in volatile markets.

Should we invest in stablecoins?

Stablecoins provide investors with a stable and digital channel to keep their profits locked in. Stablecoins can provide liquidity. However, stablecoins are mainly used as a medium of exchange and collateral, and cannot generate a lot of returns for investors.

Conclusion

Despite the limitations, stablecoins are still an important part of the crypto market. Stablecoins are cryptocurrencies that are typically backed by assets. By controlling various mechanisms, stablecoins can remain pegged within a preset price range. Therefore, stablecoins not only serve as a medium of exchange but are considered a safe source of long-term investment. MEXC Exchange provides various channels for investors to buy and hold such stablecoins.

Start your crypto trading journey with MEXC Global Exchange

Register and get a trading fee discount

The content of this webpage is not investment advice and does not constitute an offer or solicitation to offer or recommendation of any investment product. It is for general purposes only and does not take into account your individual needs, investment objectives, and specific financial circumstances. Investment involves risk.

This disclaimer informs readers that the MEXC Creator’s content, views, thoughts, and opinions expressed in the articles belong solely to the creators and authors, and not to MEXC Global itself. MEXC Global doesn’t give any investment recommendations or advice.

What is a Stablecoin? was originally published in MEXC Global on Medium, where people are continuing the conversation by highlighting and responding to this story.

Just to make the initial journey a fruitful and smooth one, here are some basic indicators which will help every trader up their crypto trading game. We touch upon the basics and advise our readers to go in-depth about each to make sure they understand and execute these indicators in the best way possible.

Let’s get going, first, we begin with Moving Average.

What is a Moving average (MA)?

Moving average is a simple yet powerful tool for analysing the direction and strength of a trend. It does that by considering price data for a specific period of time to then formulate an average

Multiple types of Moving Averages are used by traders for intraday or positional trades along with long term investing. Simple Moving Average (SMA) and Exponential Moving Average (EMA) are the two most widely used moving averages of all time.

How to read Moving Average?

Moving average analyses the days entered for reading and defining itself. Higher the number of days, the slower the reaction of the moving average in providing the new data set for analysis. Moving averages are purely dependent on previous price actions. This data is represented via a line on the charts and any movement, above or below the lines is considered the most important trading signal for decision making. Traditionally 50,100 & 200 days are the most used moving averages.

If the dataset includes 200 days, the moving average will continuously update itself to include data from the past 200 days. For every trader, it is really important to evaluate and select the type of moving average based on their personal analysis.

The simple logic that traders need to remember is, the larger the data set, the more beneficial for long term investing as such trades will not be immensely affected by general days volatility

For short term traders, a smaller data set is advisable as it is more volatile and reactive and helps in making quick decisions.

Crypto markets are open throughout the day and because of this, we advise traders to read more about moving averages in detail before using them for their crypto trades.

What is the Ichimoku Cloud?

This indicator is one of the best for determining the resistance and support levels along with the direction of the trend. It’s a complex and confusing looking indicator however users find its practical application to be one of the most useful and simplistic.

Ichimoku cloud mainly consists of 5 lines which are the main indicators to be read:

Tenkan-sen: This line indicates the average price value for the first time period, which is the sum of maximum and minimum for that particular period of time, divided by two;

Kijun-sen: indicates the average price for the second time period;

Senkou Span A: indicates the centre of the distance between the previous two lines, moved forward by the value of the second time interval;

Senkou Span B: indicates the average price value for the third time interval moved forward by the value of the second time interval;

Chinkou Span: indicates the closing price of the current chart candle, moved backwards by the value of the second time interval.

How to read Ichimoku Cloud?

The Ichimoku cloud in itself can be defined as the distance between the Senkou lines A & B.

If the price ranges between these lines, the market is considered to be less volatile and not in trend, while the edges of the cloud form support and resistance levels. This can be considered a good time to enter a trade in the margin or spot trading. Many traders go long and short within the range of the cloud.

In cases when the price crosses over the cloud, the first upper line then becomes the first support level and passing which the second line becomes the second support level. This is where most traders enter long positions.

That is, from the upper line you (always!) can expect to enter the long position (on the rebound). Don’t forget about stop-loss orders, as there could be breakdowns and steep drops in price.

What is Trading Volume?

Trading Volume is undoubtedly one of the underestimated yet powerful indicators in all of the trading world. It’s a direct indication of how many people are buying and selling the said asset.

How to read Trading Volume?

The higher the volume higher is the conviction. Similarly, the lower the volume lower the buyers and hence lower is the conviction.

Volume is defined by red and green candles showed at the bottom of the indicator. Consecutively towering green candles indicate buying momentum, same with red towering candles defining higher selling.

Trading volume acts as the base indicator and all other indicators use trading volume to higher their conviction on any trade.

If there is a significant price movement in a certain direction, there should also be an “impulse” of the movement, behind which there is a sufficient number of people.

How to use the above indicators on MEXC GLOBAL?

Go to token charts, press professional on the top right of the chart, press on fx below professional to search for the required indicator and apply it to the charts to start reading it.

Start your crypto trading journey with MEXC Global Exchange

Register and get a trading fee discount

The content of this webpage is not investment advice and does not constitute an offer or solicitation to offer or recommendation of any investment product. It is for general purposes only and does not take into account your individual needs, investment objectives, and specific financial circumstances. Investment involves risk.

This disclaimer informs readers that the MEXC Creator’s content, views, thoughts, and opinions expressed in the articles belong solely to the creators and authors, and not to MEXC Global itself. MEXC Global doesn’t give any investment recommendations or advice.

These Basic Indicators will Up Your Trading Game was originally published in MEXC Global on Medium, where people are continuing the conversation by highlighting and responding to this story.

A new trader will not be able to notice this however the pros are good at keeping data so to make it easier for our traders to be pros we at MEXC have decided to update with data which helps you understand and make vice trading decisions all while you sharpen your trading skills.

At MEXC Global we celebrate M-Day to launch a new token and the MEXC community has benefited a lot from the gains of these GEMS that MEXC put forth for our users.

DORA — Launch Date 21st March 2021

What is DORA?

Dora Factory is a programmable DAO as a service open infrastructure on the substrate.

Dora launched on MEXC on 21st March 2021 at a price of 10 USDT and went up to 31.9 USDT which is a staggering increase of 219%

REVV — Launch Date 10th March 2021

What is REVV?

Revv is an ERC-20 utility token that serves as the primary currency in branded motorsports blockchain games developed and published by Animoca Brands including F1 Delta Time and upcoming titles based on MotoGP and Formula E REVV is designed to enable true digital ownership of game assets giving players freedom and control over in-game property — most of which is tokenized.

REVV launched on MEXC on 10th March 2021 at a price of 0.16 USDT and went up to 0.55 which is a massive gain of 266.67%

SCRT — Launch Date 04th March 2021

What is SCRT?

Secret Network is a decentralized network of computers (secret nodes) that utilise trusted execution environments (TEEs) to enable secure private computation over encrypted data.

SCRT launched on 04th March 2021 at a price of 2.5 USDT and went up to 4.8 USDT which is a gain of almost 100%

A5T — Launch Date 01st March 2021

What is A5T?

Alpha5 is an advanced crypto derivatives exchange with Spread Markets for both BTC and ETH Trade in the Entire Futures Curve powered by Implied Order Book technology A5T is the native exchange token of Alpha5

Alpha5 launched on 01st March 2021 at a price of 0.75 USDT and went up to 2.582 which is a gain of 244.27%

ALPA — Launch Date 19th November 2020

What is ALPA?

Alpaca City (ALPA) combines DeFi with NFT and is a virtual city based on the Ethereum blockchain. Users can manage their assets on the chain by collecting and breeding alpaca NFT. Each alpaca has different genetic characteristics and income farming capabilities.

ALPA launched on 19th November 2020 at a price of 0.29 USDT and went up to 1.1518 USDT which is a mind-blowing gain of 2876.23%

ECELL — Launch Date 22nd September 2020

What is ECELL?

CelETF, the core project under Consensus Cell Network with eCel as the basic token is a decentralized DeFi comprehensive application platform which is committed to providing the most professional trading services of decentralized digital currency ETF for global investors

ECELL launched on 22nd September 2020 at a price of 0.028 USDT and went up to 0.159 USDT which is a humongous gain of 472.77%

CPH — Launch Date 10th September 2020

What is CPH?

CPH is the native utility token for the Cypherium blockchain and plays an integral role in fueling the platform. CPH can be used to send transactions or execute smart contracts.

CPH launched on 10th September 2020 at a price of 0.25 USDT and went up to 1.56 USDT which is a massive gain of 526.27%

CENNZ — Launched on 27th August 2020

What is CENNZ?

Centrality is a distributed ecosystem that connects different applications using blockchain technology. It breaks traditional industry value chains and concepts, supports startups at every stage and establishes business contacts with other DApps in the ecosystem.

CENNZ launched on 27th August 2020 at a price of 0.0478 USDT and went up to 0.4529 which is a bigtime gain of 1959%

GEMS of MEXC Global that doubled post-launch was originally published in MEXC Global on Medium, where people are continuing the conversation by highlighting and responding to this story.

Trade your crypto here on MEXC

Meme coins are inseparable from hype

There are many reasons why meme coins are popular, but there are two main ones:

• One factor is the emotional agitation of community culture and the serendipitous influence of narrative topics greatly boosting the momentum of meme coins. At the end of 2020, two legendary meme stocks, Gamestop (GME) and AMC Entertainment (AMC) were shorted by institutional investors. A month later, retail investors on the well-known social networking site Reddit jokingly proposed a plan to fight back and create a cryptocurrency equivalent to the market value of GME’s stock at the time (making Dogecoin more than 100 times more expensive). Unexpectedly, this joke came true. Tesla CEO Elon Musk later tweeted on social media, causing the price of Dogecoin to rise rapidly. Dogecoin’s price rose by more than 2000% in five days, hitting a record high of $0.73 per piece.
• Another factor that makes meme coins popular is their low cost. Because most of these meme coins cost only a few cents or less, traders on MEXC Exchange can hold millions of meme coins with just a few dollars. This creates a strong psychological effect that leads traders to believe that such meme coins are undervalued and cheap, which is very different from holding a blue-chip coin like ETH or BTC.

The above two factors combined create a strong demand for meme coins and an inevitable equally strong supply of meme coins.

History of meme coins

In 2021, two dog-related meme cryptocurrencies, Dogecoin (DOGE) and Shiba Inu (SHIB) went parabolic thanks to the hype on social media.

Dogecoin (DOGE) was the first meme coin to be created. Launched in 2013 by software engineers Billy Markus and Jackson Palmer as a joke, it was meant to make fun of the wild speculation in cryptocurrencies at that time. DOGE was inspired by the Doge meme, which was a picture of a Japanese Shiba Inu that went viral. Today, the market value has exceeded 19 billion US dollars and has attracted much attention from investors, becoming one of the most popular cryptocurrency projects with great mainstream recognition after Bitcoin and Ethereum.

Shiba Inu Coin (SHIB) is a dog-themed meme digital currency named after the Japanese Shiba Inu. Shiba coin was created on the Ethereum blockchain in August 2020 by a mysterious developer named “Ryoshi”. The total supply of SHIB is 1,000 trillion. After the successful launch, Ryoshi locked 50% of the total supply in Uniswap, laying the foundation for the liquidity of Shiba Inu. Ryoshi transferred another 500 trillion Shiba Inu coins to Ethereum co-creator Vitalik Buterin, who burned 90% of them and donated the remaining 10% to the Indian Covid-19 Relief Fund.

Shiba Inu Coin attempts to justify the value of meme coin

For a long time, investors’ impression of meme coins was not very good with much fear, uncertainty and doubt about their actual value. The emergence of the Shiba Inu coin seeks to reverse this impression.

Shiba Inu’s ecosystem is named after canine terminology. According to the “WoofPaper ” (white paper), Shiba Coin is a community-driven project focused on creating a decentralized cryptocurrency. Shiba Inucoin was created in 2020 by an anonymous developer named Ryoshi to replace Dogecoin (DOGE) in the Ethereum blockchain. Therefore, Shiba Inu Coin is an ERC-20 token with broad application prospects and is constantly enriched.

For example, the Shiba coin has a decentralized trading platform called “ShibaSwap”. In addition, its roadmap also includes an NFT art incubator called “Shiba Artist Incubator”, and an NFT game — Shiboshi Game.

2021 was the year of the canine-themed cryptocurrency boom, with SHIB market value rising sharply. In November 2021, SHIB became one of the top cryptocurrencies by market cap, ranking 11th in CoinMarketCap. The reason why SHIB is qualified to be a “Dogecoin Killer” is that SHIB has not fallen behind in terms of the popularity of social media. This may be due to the large community base with more than 2,600,000 followers on Twitter and 87,000 members on Telegram. With the ever-increasing attention to the project, the size of the SHIB community continues to grow.

The Tesla founder seems to have a soft spot for meme coins. Whether it is Dogecoin or Shiba Inu, the presence of Elon Musk is strongly felt.

How to trade Shiba Inu, Doge and other meme coins

Users can log in to cryptocurrency trading platforms such as MEXC Exchange and select different trading pairs such as SHIB/USDT or SHIB/DOGE to buy and sell meme coins. With over 1,000 tokens available for trading, MEXC Global offers one of the best platforms for investors to buy and sell tokens easily.

Risks of current meme coins

The current meme coins’ high valuation boom is mostly related to social media and investors’ emotions, and the results of the hype are temporary. When traders switch to new meme coins, current meme coins prices may plunge unexpectedly.

Another characteristic of meme coins is that they tend to have a huge unlimited supply. For example, Shiba Inu (SHIB) has a total supply of 1000 trillion tokens, and while DOGE has no maximum supply, there are already over 100 billion tokens in the market. Since meme tokens generally do not have a coin destruction mechanism, the huge supply leads to their relatively cheap prices and potential dumping from investors who have accumulated large amounts early.

It has to be admitted that a considerable number of investors have made a fortune from meme coins, but the hidden financial risks are even greater. It is not uncommon for many investors who enter meme coins to suffer heavy losses due to market sentiment fluctuations.

Conclusion

The life cycle of meme coins is often short, because they may have no ecological and application support. This makes meme coins appear to have false valuations. The impact of policies such as the U.S. dollar quantitative easing can also affect meme coins’ value. In general, meme coins are unstable and it is important for beginners to be extremely vigilant about the potential trading risks of such meme coins.

Start your crypto trading journey with MEXC Global Exchange

Register and get a trading fee discount

The content of this webpage is not investment advice and does not constitute an offer or solicitation to offer or recommendation of any investment product. It is for general purposes only and does not take into account your individual needs, investment objectives, and specific financial circumstances. Investment involves risk.

This disclaimer informs readers that the MEXC Creator’s content, views, thoughts, and opinions expressed in the articles belong solely to the creators and authors, and not to MEXC Global itself. MEXC Global doesn’t give any investment recommendations or advice.

What is a Meme Coin？ was originally published in MEXC Global on Medium, where people are continuing the conversation by highlighting and responding to this story.