{REPOST} [ONE/USDT TRADING- SELL] Crypto Academy Trading Competition - S6T4 | TEAM REMINANE
> About Project
Insight to ONE
Blockchains as we all know is the (underlying technology behind a lot of cryptocurrencies, and has long been impeded by 2 fundamental problems--the absence of scalability and also the associated difficulty found in upscaling without compromising their respective decentralization. Harmony (ONE) is now a blockchain-backed platform that was designed to achieve both of these without affecting either aspect while doing so. ONE is the native crypto of the Harmony blockchain.
Harmony started as a company in 2018 before the IEO (Initial Exchange Offering) with multiple investors, like Silicon Valley's Consensus Capital, Hong Kong's Lemniscap VC, amongst others who were interested in this fundraising endeavor, raising about $18 million in the month of April 2019. The investors bought approximately $2.8 billion of this company's ONE tokens, with about $12.6 billion put aside to be used for pre-mining.
Stephen Tse is the founder of Harmony in 2018 which with a mainnet launch in 2019 and was a researcher at Microsoft Research. He also holds titles like the senior infrastructure engineer at Google and a main engineer for the search ranking at Apple. He additionally founded Spotsetter which was later on acquired by Apple.
The reasons why I have a bullish agenda towards this token are listed below;
- Harmony has brought on a cross-chain interoperability bridge in the name of Horizon which enables assets to be transacted or exchanged between layer 1 Ethereum blockchain and the Layer 2 Harmony blockchain. This is a service that will involve many more traders in the trade and thus a bullish trend in the future.
- With NFTs becoming in the rise in the crypto market, Harmony is working on enabling the verification and also lending of NFTs.
- In bringing high-speed transactions into the crypto space, many more people are inclined in choosing this route over others.
Exchanges
The exchanges on which the ONE token can be transacted are shown below;
Below I will like to iterate the selection of my order based on different timeframes using a combination of the Median indicator and also the RSI;
1-hour analysis
As seen above, there is an appearance of a bearish overlap which is indicated by the change from a green band to a purple one. It is also noticed at the RSI indictor that there is a downward cross moving towards the below 50 level.
15-minute analysis
In a reduced timeframe here, again is seen the overlaps of the indicators in the RSI and also the bearish cross of the Median indicator.
5-minute analysis
Here, where the order is actually initiated is seen a detailed view of my entry indicating my stop loss and take profits levels with a risk management done in the ratio of 1:1. When the trade was initiated, I placed my take profit level at 0.16307 and stop loss at 0.16555 and obtained a profit as shown below.
I plan on keeping this coin as it has initially garnered an ATH of $0.36 as demonstrated below.
At the time of writing, the coin has a current worth of $0.15 which means according to me that in the next bull run, it is likely possible to hit back this ATH at which point I may decide to sell if instincts are research tells me so.
Another reason why I plan of keeping Harmony is its staking function. Staking these tokens to a certain network validator might be likened to making a bank deposit where you delegate your tokens to the validator in order to enable the decentralization of the network, performance and security. People who stake these ONE tokens are obviously rewarded for the action.
Above are seen the results of market volume traded for the ONE token as demonstrated by coinmarketcap. Also, it should be noted that despite its involvement in DeFi and NFTs, ONE still faces a lot of stiff competition from other layer 2 projects like Avalanche, Cardona and Solana. So in as much as ONE has space to grow and develop, the market volatility as a whole and fierce competition may be strong determining factors.
It is important that researchers do their due research before engaging into any asset in the crypto space because the future is always very uncertain for everyone. So even though I will recommend people buying this token, it should be bought using income that will not directly and severely affect the trader if lost.
Although there is a lot of work left in this project, the Harmony has been regarded as a solution already to inferior scaling and also interoperability and serves as a useful base for DApp developers to enable them scale their transactions and apps. It also wishes to be a positively top crypto that is known for its efficiency and speed and as we can confirm, it is well in tract to accomplishing this goal. As is the case with other cryptocurrencies, ONE will increase in value as Harmony appreciates as well.
The above information is NOT financial advice and should be considered as the thoughts of a single trader. In this regard, no one should put in money they cannot afford to lose following the suggestions of this post.
CC: @reminiscence01