2024-09-07 22:30:21 by NewsBTC

Although the market dips even further after weak macro releases, Starknet (STRK) remains bullish with developments that offset the market’s fear, uncertainty, and doubt. According to CoinGecko, STRK rose nearly 23% since last week, keeping much of the bearish momentum at bay.  On-chain developments have held investor confidence highly, with a major push for improving the Bitcoin ecosystem. Several protocols built on top of Starknet have reached new heights, further contributing to STRK’s bullishness. In the meantime, investors and traders can enjoy gains despite the market’s underperformance.  Protocol Growth Drives Starknet Investor Confidence Several protocols on top of Starknet reached new heights despite the market’s bearishness. zkLend, Starknet’s money-market protocol, has partnered with Chainlink, a decentralized oracle service, to provide the platform with accurate and tamper-proof market data.  ⚡️️We’re proud to announce that @zkLend has fully integrated price feeds powered by @Chainlink. 🔗 Chainlink provides industry-leading oracle services to cover prices of USDC, USDT, BTC, ETH, wstETH, STRK and DAI on zkLend, further enhancing the protocol’s security and… https://t.co/cLXbxDZKfx pic.twitter.com/oM6F9iLxj4 — zkLend (@zkLend) September 6, 2024 Chainlink will cover a handful of assets on-chain such as USDC, USDT, BTC, ETH, and many more. This will significantly improve user experience as well as security for zkLend’s activities as it leverages Chainlink’s robust network.  STRK is now trading at $0.43. Chart: TradingViewVesu, a lending platform on Starknet, joined the list as the protocol reached $10 million in total value locked (TVL). According to DeFiLlama, the protocol is now ranked fifth since the start of the month after it rose from $7 million to nearly $10 million in a week, representing a 23% growth. 1/ 🎉 $10M TVL unlocked! 🎉 Thanks to our amazing community and builders for making this possible. 🤝 pic.twitter.com/DNIRGB2eDz — Vesu (@vesuxyz) September 6, 2024 NFTs on-chain are also seeing some interest as Realms was released as a part of Starknet’s blockchain gaming scene. Adding to the bullishness is the fact that Realm has support for Cartridge.gg’s Controller, a smart contract wallet dedicated wallet. This support will help in aiding user experience when players on games supported by Realms decide to trade their assets on the platform’s marketplace. Overall, Starknet’s growth in the long term is guaranteed. According to Dune’s statistics, the weekly transaction count grew by nearly 19% with active addresses within the same timeframe expanding by almost a percent.  $0.447 Rejects Upward Trajectory, Halting Medium-Term Growth As of writing, STRK’s position remains favorable despite the crucial $0.447 resistance rejecting short to medium-term movement. The token might stabilize within the $0.388-$0.447 trading range before a breakthrough.  STRK’s continued upward relative strength index (RSI) hints at a few more days of bullishness before returning to stable levels. This will lead to a breakthrough before dropping again to its current trading range. If this occurs, STRK will experience a drop in volatility before the bulls can attempt to break through again.  However, the broader market’s bearishness has the potential to swing the entire market downwards. Weak macroeconomic indicators, might still be present in the long-term, but only to a lesser extent.  Featured image from Medium, chart from TradingView Christian Encila They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one. Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.