CRUST / TETHER USD on Ethereum (576CEA...91599A)Uniswap v2 (Ethereum)
Description
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Occasionally a project will capture my attention, Crust Network is one of them.
But first a little background…
The Filecoin project with IPFS (InterPlanetary File System) storage has had my attention for years now along with other protocols from projects such as Sia, Storj, Arweave.
Have studied various decentralised cloud storage options with the comings and goings of various projects and I’m of the opinion IPFS will dominate. In fact if you compare the dominance between those different projects on the chart you can see Filecoin is leading the pack. Nonetheless that does not mean others will cease exist, so how will they participate?
Now here is the reason for the interest in Crust Network. In a word, utility. At the moment the use of those services mentioned above is convoluted, it is not straight forward for everyone. Give Filecoin a try.. then try the next service, all with different ecosystems. And with Filecoin, very much aimed at the corporates rather than the individual. This is where Crust Network steps in..
“Crust Network provides a decentralised storage network and cloud solutions for both, the Web 3.0 as well as Web 2.0 ecosystem and is build on Polkadot’s Substrate framework. It provides a unique incentive layer for the IPFS protocol. Crust Network is integrated with many blockchains and provides a fully decentralised storage layer for Ethereum, BSC, Polygon, Solana, Near, Elrond, Heco and others.”
In summary the Crust Network is a doorway to multiple ecosystems for cloud storage. I know of no other storage protocol that operates like this.
On the technicals.. Unfortunately the markets are of very low liquidity. Instead of looking at any one exchange, we’re studying the market structure on uniswap, it has the most history.
On the above 6-day chart price action has broken out of resistance with strong bullish divergence. A measured move from the wedge breakout makes this idea a 250-300x return.
Is it possible price action falls further? Sure. Is it probable? No.
Ww
Type: trade Risk: <=6% of portfolio Timeframe: No idea Return: 250-300x
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on support
Trade active
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From 1.15 is excellent if someone will give it to you.
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This idea reminds me of the wedge from uTrust back in 2020
6-day chart
The idea at the time, perfect forecast
And now the wedge for this idea and the path to $200+ per token
6-day chart
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And lastly.. the volume, sneaking in the backdoor when no one is looking. Just like uTrust, the volume flowing in via exchanges no one really uses. Something very similar happens with TRU true Fi I think it was.
I've no idea why this project, none at all. But the chart is telling someone knows something I don't. Follow the money and be patient.
6-day
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on support. A monthly candle this time.
On the 3-day chart below it is clear the 3-day/50-day (red circles) offers strong support and resistance. I don't know when the market pivots but where it is probable..
Great pick. No doubt. Have you considered the 10x dilution that this project has seen over the past year or so? For this to reach the all time high, it only needs to do a 10x, which is 250M in MC from the current market cap of about 24M. I am hoping that you have factored this into your charting and price projection. Thanks!
without_worries
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@TK_KH10, no more factored in than anyone has the 40% dollar dilution when Bitcoin returned to 15k recently. Did you know in dollar supply terms that would be Bitcoin at or below 9k in 2017 prices..
The forecast in price action is from the wedge breakout only. Very reliable.
without_worries
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@TK_KH10, Did a similar breakout trade on Utrust back in 2020, circulation of tokens was not fully distributed either. It is a nonsense statistic to follow.
The idea at the time
maverick1239
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Onward to all time highs
Bankir42
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relevant?
bullymcbagz
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bump
basictradingtv
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back at support now!
SwallowPremium
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What entry point to choose here?
without_worries
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@SwallowPremium, Look at the return potential! This question has absolutely no function here. Time in the market will always trump timing it.