After Kusama, the main Polkadot chain is now all set to host the first parachain on its Relay Chain as the team has announced that the much-awaited Polkadot parachain auctions would begin on November 11, 2021.
Polkadot announced the schedule in a blog post on Wednesday, October 13th. According to the announcement, speaking at the Sub0 conference, founders Gavin Wood and Robert Habermeier said that Polkadot was technically ready to support its first parachain. This was followed by motion 118 submitted to Polkadot Council to open up the network’s first parachain slot auctions, proposed to begin on November 11th, 2021.
This proposal is now going through a public referendum. This means that there could be minor changes to the schedule, nevertheless, Polkadot is now ready to host parachains. If the motion is passed, the Polkadot parachain auctions will begin on November 11, 2021.
Like Kusama auctions, each auction will last for 1 week. According to the blog post:
“The first batch of 5 auctions would take place with 1 new auction each week, with the second batch of 6 auctions to take place with 1 new auction every two weeks.”
As in Kusama auctions, each Polkadot parachain slot auction will consist of two periods: a starting period of 1 day and 18 hours and an ending period of approximately 5 days.
The holders of Polkadot’s native token DOT would require unbonded DOTs to participate in parachain crowdloans. The current unbonding period on Polkadot is 28 days. This means that DOT holders have to start unbonding their DOTs holdings immediately to participate.
There is a change in the process of how the parachains will be onboarded on Polkadot’s Relay Chain. Unlike Kusama, where winner parachains are onboarded immediately, parachains for Polkadot will be onboarded in batches at the start of a leasing period.
The blog post notes:
“The first batch of 5 parachains would be onboarded to Polkadot at lease period 6, which begins on approximately December 17th, 2021, rather than being onboarded immediately following each auction as has occurred on Kusama. The second batch of 6 auctions would be onboarded for lease period 7, which begins on approximately March 11th, 2022. Each auction on Polkadot will assign a parachain slot for a total of 96 weeks (divided into 8 12-week lease periods) as opposed to Kusama’s 48 weeks.”
Auctions for the first batch of 5 parachains will begin on November 11 and will end on December 16th. Winners will be onboarded on December 17th, 2021 for the period December 17th, 2021 to October 20th, 2023.
Auctions for the second batch of 6 parachains will commence on December 23rd and will go on until March 10, 2022. Winners will be allotted their slots on March 11, 2022, from March 11th, 2022 to January 12th, 2024.
Auctions for Polkadot’s canary chain are also underway. 11th parachain auction has been concluded on Wednesday, October 13th, and Kintsugi BTC, the canary network of Inter BTC, is now the 12th in total and the 11th real-world parachain on Kusama.
Aave Price Analysis: AAVE looking to test $325 resistance for the third time, breakout to follow?
- Aave price analysis is bullish today.
- AAVE/USD moves towards $325 resistance again.
- Higher local low set overnight.
Aave price analysis is bullish today as bullish momentum has pushed the market higher this week, likely leading to another retest of $325 resistance. Therefore, further upside will likely follow, potentially leading to a break higher.
The overall market traded with bearish price action over the last 24 hours. The market leaders, Bitcoin and Ethereum, lost 0.98 and 1.82 percent, respectively. Meanwhile, Dogecoin (DOGE) was the worst performer, with a loss of around 5.5 percent.
Aave price movement in the last 24 hours: Aave continued to move towards $325
AAVE/USD traded in a range of $302.32 – $320.21, indicating mild volatility over the last 24 hours. Trading volume has increased by 7.71 percent and totals $246.5 million, while the total market cap trades around $.14 billion, ranking the coin in 43rd place overall.
AAVE/USD 4-hour chart: AAVE looking to break higher?
On the 4-hour chart, we can see Aave price action approaching the $325 previous resistance again, likely resulting in a break higher today.
Aave price action has struggled to reach further upside over the past weeks. After setting a slightly higher high at the beginning of October at $325, the market saw a several-week consolidation.
After the second test of the $325 high, AAVE/USD saw a retracement of around 15 percent, leading to a lower low set around $275. Since then, bullish momentum has taken over again, slowly leading AAVE back towards the current swing high of $325.
Yesterday, bulls pushed the Aave price action above $310 again, with the following retracement setting a local higher low overnight. Overall, AAVE/USD is likely ready to break higher today. However, if the $325 mark holds again, we expect to see further bearish momentum next week.
Aave Price Analysis: Conclusion
Aave price analysis is bullish as a series of local higher highs and lows have been set this week, leading AAVE back below the $325 resistance. Therefore, we will likely see further upside over the next 24 hours, potentially leading to a new higher high set.
While waiting for Aave to move further, read our guides on Metaverse wallet, Fiat wallet reviews, and NFT art finance token.
Quant price analysis: QNT retests $315, more upside to follow?
- Quant price analysis is bullish for today.
- Resistance for QNT/USD is found at $336.
- Support is still strong at $311.
The Quant price analysis reveals the QNT/USD price is at a good level today as it nears almost the $315 mark. The current bullish momentum has helped the price to tower above the price levels of the last two weeks, which is a good accomplishment for the cryptocurrency.
The broader crypto market is showing mixed market sentiment. As Bitcoin, despite breaking upwards today, is still at a loss of 1.3 percent, Ethereum reports a marginal gain of only 0.4 percent. Most of the top altcoins are reporting losses today, and on the contrary, few altcoins show gains, with the Fantom and Quant topping the chart with more than 11 and seven percent profits over the last 24 hours.
QNT/USD 1-day price chart: Bullish momentum aggravates price flow above $300
The 1-day price chart for Quant price analysis shows the bullish trend has helped the price to heighten to $312.6 at the time of writing, gaining a value of more than seven percent over the last 24 hours, which is a significant gain, and around three percent over the course of the last seven days. The trading volume is also up by almost 50 percent resulting in the market dominance of 0.15 percent.
The volatility is low for QNT/USD pair as the Bollinger band continues to form the narrow channel, which was initiated on 10th October. The upper Bollinger band is at $323, representing resistance for QNT, and the lower band is at the $294 mark, which represents support for QNT/USD. The moving average is at the $294 mark below the price level.
The relative strength index (RSI) is in the upper half of the neutral zone at index 55. The RSI moved up yesterday when the price showed good performance but has again flattened a bit as buying slows down. However, the indicator shows buyers’ dominance in the market.
Quant price analysis: Recent developments and further technical indications
The 4-hour Quant price analysis shows that bears tried to hinder the upwards price movement by showing strong resistance, but bulls have ruled them out by gaining control on the price function again, as the last green candlestick on the 4-hour chart proves.
The volatility for QNT/USD is high on the 4-hour chart as the Bollinger bands show convergence, but we can see the price has again moved above the upper Bollinger band and has turned it into a support level so chances for further improvement are brighter. The RSI also complements the statement as it has taken a sharp upwards turn, indicating increasing buying activity in the market. However, the RSI is still in the neutral zone at index 66 but can enter the overbought zone.
The simple and exponential moving averages and the MACD and Momentum oscillators also indicate bullish signals and support the buying decisions of the QNT assets.
Quant price analysis conclusion
The Quant price analysis suggests the bulls have countered the bearish attack and are on a march towards further highs. The mark of $315 seems to be conquered soon, and if the support present at the current price level of $312 remains intact, then a further rally can be expected, but if support faulters, still we expect the QNT/USD to float above $300 psychological mak.
SnapEx Trading Platform Officially Relaunches with 90% Less Fees
SnapEx, a fast-evolving crypto contract trading platform, launches its Real account trading environment for all users with a 90% reduction in trading fees (for a limited time only). Users can also start depositing and withdrawing in USDT-TRC20.
This comes after two weeks of releasing its Demo account trading environment for beta testing, in preparation for the Real account launch and its impending token launch by end of November 2021.
In conjunction with this Real trading platform relaunch, SnapEx will also be hosting a few campaigns to reward users who gets onboarded and starts trading on SnapEx platforms:
- Get deposit bonus up to 200%
- Win a lucky draw of SNAP tokens
- Get free SNAP points (to redeem SNAP tokens) by completing simple tasks
The SnapEx trading app and web trader are now improved and further fortified, with a robust backend to support both Demo and Real account trading environments in a safer and more stable manner.
These past few months have seen a lot of work being done behind the scenes. From forming new alliances and partnerships across the crypto space and building our next batch of features and products that will forever change the future of SnapEx and the wider digital assets space.
“We couldn’t be happier to make our live trading CFD platform available. Soon, SnapEx will combine both DeFi and centralized exchange elements, becoming the world’s first CFD platform to provide staking services, a platform token, and an ecosystem, upheld by the SNAP token.”
“In addition, our planned rollout also includes social and quant trading features, licensed CFD stocks, and bringing a variety of other cryptocurrency services to the general public like options and CBBDs to bridge the gap between traditional and digital finance,” says Cathal Donnellan, CEO of SnapEx.
From a simple contract trading platform to the world’s first crypto CFD trading platform with its own token and ecosystem, SnapEx is set to explode onto the crypto space like never before.
SnapEx is a game-changing derivatives trading platform providing Contract for Difference (CFD) trading to the retail and institutional markets.
Founded in 2018, SnapEx has since been funded by some of the world’s leading Venture Capital organizations, setting the stage for SnapEx to scale and grow even further, with presence in Southeast Asia, the Middle East, and Europe.
SnapEx is set to become the only CFD platform to provide both an Ecosystem and a Platform Token to its audience.
Serving over 100,000 registered users, SnapEx will be offering an all-in-one suite of both CEX and DeFi, staking functionalities, licensed crypto stocks, quant and copy trading, options trading, and more.
The aim of SnapEx has been the same since day one – to bridge the gap between traditional and digital finance and encourage the mass adoption of cryptocurrency globally.