💟 Market Health (October-18) Money flow is continuing to push into Bitcoin to help it rise back to the top of $65000 so the money push into Altcoins will be quite slow, but the buying power of Altcoins is still very interesting because it is still pushed in even when Altcoins are falling. This shows that the accumulation of Altcoins at the moment is taking place and Altcoins can completely increase in the near future.
💟 Market Health (October-17) The buying power has decreased because the cash flow at the end of the week is usually very weak, so we may have a slight correction, this does not affect the uptrend of Altcoins.
💟 Market Health (October-16) The buying force is continuously pouring into Altcoins these days and they are having a big chance to increase sharply in the near future so let's keep accumulating Altcoins.
💟 Market Health (October-15) After a wave of good news about the DeFi, NFT and Fan token markets, buying power has returned to the market now. The current money is flowing strongly into the platform coins and this will help the market to stand stable in the near term. Let's keep accumulating coins and waiting for their pump
FXS is approaching $3.6, this is a strong resistance that I think will be quite difficult for FXS to conquer this zone. It is highly likely that FXS will correct to the $2.8 zone before rallying back to the $3.6 and $4.50 zone in early August
📈RED PLAN 🔴Buy : 2.73-2.87$ if A. SL if B
🔴Buy : 3.52-3.68$ if A. SL if B
📉BLUE PLAN 🔴Sell : 3.52-3.68$ if B. SL if A
🔴Sell : 4.4-4.6$. SL if A
🟣PURPLE PLAN 🔵Buy : 3.52-3.68$ if A. SL if B
🔵Sell : 4.4-4.6$. SL if A
❓Details 🕯Timeframe : 1 Day
📈Red Arrow : Main Direction as BUY & SELL section
📉Blue Arrow : Back-Up Direction as BACK-UP section
🟩Green zone : Support zone as BUY section
🟥Red zone : Resistance zone as SELL section
🅰️A : The Close price of candlestick is Above the zone
🅱️B : The Close price of candlestick is Below the zone
Frax (FRAX) is a fractional algorithmic stablecoin partially backed by collateral and partially stabilized algorithmically. The ratio of collateralization and algorithmic depends on the market price of the FRAX stablecoin. If FRAX is trading at above $1, the protocol decreases the collateralization ratio. If FRAX is trading at under $1, the protocol increases the collateralization ratio.
Frax Share (FXS) is the non-stable, ERC-20 governance token of FRAX with the following use cases:
Governance: Grants holders governance rights to add/adjust collateral pools, set minting/redemption fees, and to change the refresh rate of the collateralization ratio.
Staking: Stake in various pools to earn interest with preferred APY.
Minting & Redeeming: FXS will be burned when minting FRAX and minted when redeeming FRAX.
Rewards: FXS rewards will be claimable for users who deposit Uniswap LP tokens to incentivized pairs.
At genesis, FRAX is 100% collateralized, meaning that minting FRAX only requires placing collateral into the minting contract. During the fractional phase, minting FRAX requires placing the appropriate ratio of collateralization and burning the ratio of FXS.
More details of the FXS token allocation can be found here.
As of February 18th 2021, the total supply of FXS is 100,000,000 and the current circulating supply is ~5.34%.