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Crypto Shuttle News

Tag: Traders

  • Crypto traders can mitigate risk with PODS’ FUD Vault

    Crypto traders can mitigate risk with PODS’ FUD Vault

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    The team of Pods recently announced the mainnet launch of its 3rd strategy on Pods Yield: FUD Vault, which now complements ETHphoria and stETHvv.

    FUD Vault provides a way for users to benefit from market downturns by offering a mechanism to hedge against significant price drops in ETH while preserving the deposited principal.

    Who is this product for?

    The FUD Vault is designed for individuals who have uncertainties about the future performance of ETH and want to find a way to potentially profit even when the market is experiencing a downward trend.

    By depositing funds into the FUD Vault, users can take advantage of a specific strategy that aims to mitigate the risks associated with a falling market.

    Therefore, if you feel uncertain or skeptical about the future performance of ETH and desire a strategy that allows for potential profit-making during market declines, the FUD Vault could be a suitable option.

    Product Values

    The FUD Vault offers several key values to its users:

    • Simplified Strategy: By consolidating a single strategy into one token, the FUD Vault enhances both DeFi composability and user convenience. Users can easily manage their deposits by transferring them between addresses, utilizing them as collateral on other protocols, and effortlessly verifying their holdings within a specific strategy. The aim is to streamline the user experience and provide a seamless interface for interacting with the vault.
    • Access to Intricate Strategies: With just a single click, users gain access to intricate strategies within the FUD Vault. These strategies are designed to optimize returns and navigate the complexities of the market. By offering these strategies in a user-friendly manner, the vault allows users to benefit from sophisticated investment approaches without needing in-depth knowledge or expertise.
    • Flexible Withdrawal: Users can withdraw their funds from the FUD Vault at any point after the deposit has been processed. This feature ensures that users maintain control over their assets and can access their funds whenever they need them.
    • Transparent Historical Returns: The FUD Vault provides users with a clear display of actual historical returns. This transparency allows users to assess the performance of the vault and make informed decisions about their investments. By presenting accurate and up-to-date information, the vault aims to build trust and confidence among its users.

    How FUD Vault Operates

    When you deposit USDC the vault immediately invests in Aave. Then, it utilizes the entire lending yield generated by Aave for purchasing ETH put options. These put options have a delta ranging from 0,03-0,12 and a maturity period of one week.

    In simple terms, the put options act as a form of insurance against a significant drop in the price of ETH. If the price of ETH decreases by more than 10% within the one-week timeframe, the put options are exercised and the resulting profits are distributed to the depositors of the FUD Vault.

    Summary

    The FUD Vault offers a user-friendly experience, providing convenient deposit management, access to intricate strategies, flexible withdrawal options, and transparent historical return information.

    These values ensure that users can easily navigate the vault, make informed decisions, and enjoy the benefits of the platform’s offerings.

    About Pods:

    Pods make structured products for crypto assets that are easy to use and seamless. Co-founded by Rafaella Baraldo, Robson Silva, and Guilherme Guimarães, the team has developed some of the most innovative and secure tools in DeFi. The success of the products, security audits, and brand efforts, have set a new standard for building DeFi methods in this rapidly expanding sector. Security audits conducted by OpenZeppelin further demonstrate the commitment to safety and reliability. Pods continue to focus on infrastructure and serving professional clients and investors looking to diversify their portfolios.

    Contracts

    The vault has undergone four audits by leading audit firms, including OpenZeppelin and ABDK. Audit reports are available at https://github.com/pods-finance/yield-contracts/tree/main/audits

    The open-source contracts can be reviewed at https://github.com/pods-finance/yield-contracts 

    Join the Pods community on Twitter



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  • 3 reasons why traders want to buy the Bitcoin price dip to $58.5K

    3 reasons why traders want to buy the Bitcoin price dip to $58.5K

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    Cryptocurrency traders are scrambling and scratching their heads after a sharp drop in Bitcoin (BTC) price triggered a market-wide sell-off that has nearly every token in the top-200 flashing red today. 

    Data from Cointelegraph Markets Pro and TradingView shows that Bitcoin price dropped as low as $58,609 before finding buyers who bid the price back to $60,500.

    BTC/USDT 4-hour chart. Source: TradingView

    Here’s a look at what some traders and market analysts are saying about this recent downside move and whether or not it is simply a shakeout or a sign that darker clouds are gathering.

    BTC is exploring support and resistance levels

    Insight into BTC’s daily price action was offered by options trader and pseudonymous Twitter user ‘John Wick’, who posted the following chart highlighting some important support and resistance zones.

    BTC/USD 1-day chart. Source: Twitter

    Wick said that Bitcoin is just exploring the resistance zone around its new all-time high and he highlighted the possibility of a drop into the $58,000 to $59,500 range, similar to the move that was seen in the early trading hours on Nov. 15.

    Wick said,

    “We are simply testing the range low of the resistance zone. If we break it on the close may test support zone.”

    Similar observations were made by market analyst and pseudonymous Twitter user ‘Rekt Capital’, who posted the following tweet that zoomed out and looked at the price action for BTC on the monthly chart.

    As mentioned by the analyst, the price action on Nov. 16 was a retest of the monthly support/resistance level at $58,700. Now that BTC has successfully rebounded near the monthly $61,000 level, a bullish case can be made in the weeks ahead if the price manages to close the month above the level.

    There’s still a chance that $54,000 will be hit

    A level-headed view of the latest price action was provided by market analyst and Cointelegraph contributor Michaël van de Poppe, who posted the following chart of a possible BTC price trajectory over the next week.

    BTC/USD 1-hour chart. Source: Twitter

    van de Poppe said,

    “So far, so good on Bitcoin. Bouncing from support, but still needing to break some crucial areas here, which didn’t happen yet. Let’s go for that first. $63,000 is important. No breakout there [leads to] further downwards momentum.”

    According to the chart provided by van de Poppe, if the downward momentum continues, the price of BTC could drop to its next support level at $54,000.

    Related: Bitcoin stages ‘picture-perfect rebound’ at $58.5K as crypto liquidations top $875M

    Fractal patterns suggest an approaching price rally

    Crypto Twitter analyst ‘Allen Au’ posted the following side-by-side charts of Bitcoin from 2013, 2017 and 2021 in response to concerns about $69,000 being the cycle peak.

    BTC/USD 1-day charts from 2013, 2017 and 2021. Source: Twitter

    According to the analyst, the latest downturn is not the cycle top, but was in fact the Wave 6 move seen in previous cycles. This means that “if its low is in, BTC could be onto Wave 7 soon!”

    Should the outlined wave sequence play out, then a Wave 5 peak could be $69,000, a Wave 6 low near $58,600 with the potential to drop as low as $53,000 and a cycle peak somewhere between $190,000 and $260,000 happening sometime in December 2021.

    The overall cryptocurrency market cap now stands at $2.651 trillion and Bitcoin’s dominance rate is 43.2%.

    The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.