With the uncertainty surrounding the Bitcoin (BTC) price, stablecoin airdrops could be the key to sustainable income in the crypto space.
Bitcoin price
The Bitcoin price has struggled to maintain its upward momentum after reaching highs near the $75,000 level. On April 12, BTC retraced to around $65,000, sending shockwaves across the crypto market. Bitcoin’s pivot point stands on the key support at $61,970. If BTC maintains above this level, bullish sentiment may prevail, with key resistance levels at $64,873, $67,846, and $71,608. Conversely, a breakdown could trigger a sharp sell-off, with immediate support at $58,181 and further cushions at $55,649 and $52,859.
Technical analysis reveals a Relative Strength Index (RSI) of 33, hinting at potential undervaluation for Bitcoin. Additionally, the 50-day Exponential Moving Average is at $66,838, indicating that BTC is currently trading below a significant moving average marker. These factors suggest a cautious stance in the Bitcoin market, with potential volatility in either direction.
Octoblock (OCTO): Changing the game for crypto investors through USDC airdrops
Octoblock has become one of the most discussed new DeFi projects, gaining attention for its innovative offerings. The DeFi protocol aims to provide an expansive ecosystem that is both profitable and socially impactful through a range of initiatives.
Octoblock‘s inaugural initiative, the Nautilus Trove, is a dual-strategy revenue-generating mechanism that will fuel the entire ecosystem alongside OCTO tokens. The Trove will receive asset inflows to Octoblock and allocate 75% to Defi strategies, such as staking and farming. The remaining 25% will be allocated to investments, including assets, stocks, and businesses. This approach is meant to ensure steady income streams and growth potential for the ecosystem.
OCTO token holders will gain significant rewards, including a 45% share of the profits from the Trove. This will be in the form of monthly USD Coin (USDC) airdrops proportional to the percentage held of OCTO. Notably, the value and time of the airdrops will not be made public until a snapshot of the holders is taken. This is to prevent manipulation and promote fairness by ensuring that only loyal OCTO holders benefit.
Additionally, the Octoblock Saltwater Sweepstake will share 5% of the profits to randomly selected addresses within the OCTO community. Each OCTO token will serve as an entry into the sweepstake, with winning chances increasing with the number of entries.
The Octoblock ICO
The Octoblock Initial Coin Offering (ICO) just entered Phase 4, increasing the OCTO price to $0.038 and decreasing the on-top bonus to 12%. The ICO offers a number of benefits, including staking. Any acquired tokens are immediately included in the staking process, and investors receive weekly rewards through airdrops. Notably, the project has set itself apart by including USDC alongside OCTO in the ICO airdrops. The APYs (Annual Percentage Yields) for the airdrops are calculated based on the OCTO price in every phase of the ICO, and Octoblock has leveraged Beefy Finance to ensure sustainable ranges.
Conclusion
As Bitcoin (BTC) navigates its post-local top phase, platforms like Octoblock (OCTO) highlight the potential for DeFi protocols to redefine investment paradigms, offering a glimpse into a future where sustainable income and financial empowerment are within reach for all participants.
To get more on Octoblock:
Website: https://octoblock.io/
Buy OCTO: https://reef.octoblock.io/register
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