The US dollar lost about 7% of its value in 2020, while Bitcoin increased about 300% over the same period. As the institutional adoption of Bitcoin grows, companies in the United States may begin to diversify their coffers with other value-added companies, and Bitcoin (BTC) has a good chance of getting some of that.

Ark Invest’s latest report, “Bitcoin: Preparing for Institutions,” shows that even a small 1% drop for S&P 500 companies could increase the bitcoin price by $ 40,000. However, Ar analysts believe that the distribution is likely to be in the range of 2.5% to 6.5%, which “may affect the bitcoin price by $ 200-500K.”

Despite the fact that Bitcoin’s price is consolidating and preparing for the next phase of growth, more altcoins have grown thanks to strong fundamentals and high expectations from investors for their future products. Let’s take a look at three of these icons today.

Band / dollar
The decentralized economic space has boomed in recent months, and the success of protocols depends on decentralized, fast, and reliable data sources. This is where the Band Protocol comes in. In recent days, Internetworking oracle has announced several partnerships, and it turns out that it is gradually increasing its market share.

Strong equity groups like GameStop, AMC, and others have gained trader attention in recent days. It may benefit teams’ association with an injection protocol to offer decentralized stakes for various stocks to be supported on the derivatives platform decentralized from their BAND token price, as demand will increase for a successful integration.

Likewise, Linear Finance, which is a derivative protocol, will also use real-time Band price flows to provide its clients with seamless trading in multiple synthetic assets.

The range is not limited to providing data on cryptocurrency prices, currency assets and commodities. Elrond and Band have expanded the partnership to connect the two networks to provide offline data for various applications being developed on the Elrond network. In addition to the usual rate channels, Band also serves data requests for sports, games, esports, and more.

Besides, Band has also collaborated with Moonbeam, Nervos, and Phantom Protocol in recent days and has expanded its existing partnership with CoinGecko.

BAND price increased from $ 7.1532 on Jan.22 to $ 12,949 on Tuesday, which is an 81% increase in no time. Prior to this move, the price had mostly stuck in the $ 7 to $ 11.50 range in recent days.

On Tuesday, the bulls were pushing the price across the region, but the long week in the daily light shows the bears are selling aggressively at higher levels. This brought the price back to the mentioned trading area.

If the bulls don’t give in, another attempt at breaking the range is likely. The 20-day exponential moving average ($ 9.28) is starting to rise, and the Relative Strength Index (RSI) is in positive territory, indicating that the path to lesser resistance is on the rise.

If the bulls manage to keep the price above $ 11.50, the USD / Band could go up to $ 16, then $ 17.78. This area can act as a strong resistance, but if the bulls are able to push the price above it, the momentum can build up even more.

Contrary to this assumption, if the bears successfully defend the $ 11.50-12.949 resistance zone, the pair can extend their stay in this area for a few more days.

LRC / USD
The GameStop saga and the trade restrictions imposed on retailers by brokerage firms like Robinhood have revealed their major flaws. This can attract traders to decentralized exchanges as control is not maintained by any central organization.

Transaction fees are a very important aspect when shopping, especially for retailers. As such, these retailers have suffered the most with the increase in Ethereum gas fees. Loopring tries to solve this problem gradually in level two.

Dune Analytics data shows that Loopring’s fees have recently soared to an all-time high due to increased volumes. The protocol recently updated its LRC tokenomics model and announced a new scheme for distributing charges among various participants. This may also attract LRC investors who may wish to take advantage of the protocol’s growing popularity.

Source: CoinTelegraph

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