While scanning through the market, I found across one DeFi themed coin with a low marketcap, which looks like a good deal for a couple of months to come.
Standard Tokenization Protocol (STPT) has some exciting news coming up, and there is some unconfirmed news by their Telegram admin that Mainnet is going to be launched by end of Q3, 2020, though they haven't officially confirmed this yet.
If confirmed, Mainnet news is usually a very bullish scenario otherwise.
I'd urge readers to DYOR before investing, and none of them is investment advice
So let's have a look at the charts first!
Chart: STPT/BTC 1D
link: https://www.tradingview.com/x/0u6PCI2y/
Chart 2: STPT/USDT 1D
https://www.tradingview.com/x/kYYeTjAx/
Thoughts:
Nothing much to look here except for the bullish incoming news!
We can see that it is currently in an uptrend, and the ideal buy zone has been marked for reference.
On BTC pair, it seems that STPT is attempting for a breakout, and combined with the news, I think it has a long way to go.
Bonus fact: It has a market cap of 350 (at the time of writing), with a market capitalization of only $15,778,117 USD
Source: Coinmarketcap
A small word of advice: In case you are going in, I'd suggest you manage your risk appropriately because low marketcap coins are far more volatile. :)
Here's the official news: (As published on June 17th)
https://medium.com/stp-network/stp-network-launches-defi-initiative-50-million-stp-defi-grant-program-4aa8b1b1c983
Chart: Bitcoin dominance, 1D
So the event, if launched successfully, may trigger a good run for STPT :)
So, keep eyes on this :)
Here's a small update on Bitcoin Dominance:
Link: https://www.tradingview.com/x/BV4etIZk/
At the time of writing, Bitcoin dominance is around 62.69%, and it is slowly grinding down, and is near support zone. Looking at the current trends, (With ETH and other midcaps showing significant strength), we may see another breakdown of the dominance.
Breakdown will be very much bullish for altcoins once more!
As covered in my previous post about BTC breakout, it has broken above, but the move was still insignificant! Though I still see a strong move incoming. So watch out here as well...
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