CNBC reported this week that Morgan Stanley will give its millionaire customers access to Bitcoin (BTC) starting in April, indicating that traditional financial centers are under pressure from their clients to demand access to cryptocurrencies. This indicates that the level of institutional adoption is still at an early stage.
Chinese tech company Meitu also announced a new purchase of Bitcoin for $ 21.6 million and $ 21.6 million Ether (ETH) on March 17th. The company said the board believes that “cryptocurrencies have enough room to add value” because the blockchain industry still exists. In the early stages and could disrupt existing technology and finance.
Aside from the larger cryptocurrencies, there are several lesser known tokens that show potential. While many will be left by the wayside, some may win tomorrow.
Let’s take a look at the basics and specifications of the next three icons.
Lina / USDT
Linear’s LINA token has increased in value today after its inclusion in the Binance Innovation Zone.
The linear protocol, built on top of Binance Smart Chain, is a decentralized, cross-chain compatible structured asset protocol that provides traders with faster transactions at much lower fees than competitors on the Ethereum network.
Due to its cross-compatible cross-chain nature, users have access to both BSC and ETH’s decentralized economic ecosystems, and Linear has also partnered with Moonbeam for future Polkadot integrations.
On March 10, Linear launched synthetic versions of the Xangle Large Cap Index and the Xangle Blue Chip Index. During the AMA session, Linear CEO and co-founder Kevin Tai said the protocol plans to launch innovative products that differ from those available with other synthetic asset protocols.
After the initial euphoria of the listing subsides, user experience and the product line can determine the future price of the token.
The LINA rose from an intraday low of $ 0.073 on March 9 to an intraday high of $ 0.348 today, an increase of 376% in ten days. However, a long week in the daylight indicates that traders are strongly taking profits at higher levels.
The LINA / USD is likely to find support around the 50% Fibonacci retracement level at $ 0.198. If this happens, the pair can absorb the gains by trading in the area before attempting to initiate the next trend movement.
Any jump of $ 0.198 is likely to encounter stiff resistance at $ 0.24 and again at $ 0.28, as traders caught in higher levels may push to pull back.
On the other hand, a break below $ 0.198 could open the door to the 61.8% Fibonacci retracement level at $ 0.162. This deep decline indicates that traders have abandoned their positions, and this could delay the start of the next phase of the bullish move.
BAT / USD
The Basic Attention Token (BAT) was listed on the Cointelegraph on March 4 when it was priced at $ 0.675. Since March 17, the token has jumped to $ 1,369. That’s a 102% increase in two weeks. This demonstrates that traders need to protect and retain tokens that have a solid foundation.
In many cases, getting support from the right investors can go a long way in the project. So when Michael Sonnenstein, CEO of Grayscale, announced on March 17 that BAT was one of five icons added to the Grayscale series, it should have sparked interest in the community. This increases the likelihood of increased institutional interest in the symbol.
In addition, the Japan Stock Exchange Bit Bank announced that it will add support for BAT from March 17th. The move increases the reach and demand for BAT among knowledgeable Japanese cryptocurrency investors.
New investors enter the project only if they see an opportunity to make more profits. Brave’s transparency page recently revealed that nearly 100 active ad campaigns have been launched in the US in the Brave browser.
Dentsu International and Brave’s interaction with ad selection advice shows that Brave Browser Ads outperforms traditional digital campaigns in critical branding regulations. Advertisers will definitely take this into account as the number of users increases.