Octoblock (OCTO) has emerged as a safe haven for investors with its ICO staking as the prices of cryptocurrencies like Ethereum (ETH) and BNB drop.
Ethereum price
On April 16, the Ethereum price dropped below the $3,000 mark as concerns about a potential Iran-Israel clash led to a 20% decline in ETH risk reversals. The hourly chart shows the Ethereum price trading below $3,120 and the 100-hourly Simple Moving Average, with a notable bearish trend line forming at the $3,035 level. Analysts are cautious about Ethereum’s short-term prospects, warning of the potential for another decline if it fails to break above the $3,100 resistance zone.
BNB price prediction
After consolidating between moving averages for three consecutive days, the BNB price slipped below the 50-day simple moving average at $541 on April 17, indicating a shift in market sentiment favoring bears over bulls. Analysts suggest a potential decline for the BNB/USDT pair towards the strong support level at $495. This level is crucial as a breach could expose the pair to further downside towards $460 and $400. On the upside, a break and close above the 20-day EMA at $565 would signal renewed strength, possibly triggering a rally towards the overhead resistance of $635. However, this level is likely to attract selling pressure as bears attempt to halt the upward momentum.
Exploring Octoblock
Octoblock is a cutting-edge decentralized finance (DeFi) protocol that aims to offer a multifaceted ecosystem that is profitable, community-centered, and socially impactful. The protocol’s treasury and revenue-generation system, Nautilus Trove, will fuel the ecosystem alongside OCTO tokens.
The Trove will distribute the revenue generated in the ecosystem, with 45% going to OCTO holders. This will be in monthly USD Coin (USDC) airdrops, providing both consistent and stable returns for holders. Additionally, 5% will go to Octoblock’s Saltwater Sweepstake, which will randomly award selected addresses within the community. Each OCTO token held in an address will count as an entry into the sweepstake, with higher entries increasing chances of winning.
Octoblock’s Tentacle Trust will help fund non-profit organizations focused on the conservation of marine life ecosystems, such as Ocean Conservancy and Coral Reef Alliance. The funds for the Trust will come from the Nautilus Trove, and OCTO holders will be involved in this charitable initiative by voting monthly to select the donees.
Going further, Octoblock will introduce other pioneering initiatives, including Coral Cove, a cross-chain platform with asset swapping and bridging functionalities.
Understanding Octoblock’s ICO staking
The Octoblock Initial Coin Offering (ICO) has undoubtedly captured investors’ interests, with crypto watchers like ClayBro discussing its potential to provide massive gains.
Beyond offering discounted prices and token bonuses, the Octoblock ICO incorporates a unique staking mechanism. Every token purchased during the ICO is automatically enrolled in this staking process, which rewards investors through weekly airdrops. The Annual Percentage Yields (APYs) for these airdrops are calculated based on the OCTO price in the different phases of the ICO and displayed on the Octoblock website.
The first Octoblock ICO airdrop on April 9 delivered an impressive APY of 185.5%. The same day, Octoblock introduced USDC allocations to the Nautilus Trove, which contributed to the second airdrop on April 15, yielding an APY of 165%. This move highlights Octoblock’s strategy to integrate stablecoins into its ICO airdrops, with these assets still representing over 3% of the treasury’s value. Octoblock has also leveraged platforms like Beefy Finance to optimize yield returns, ensuring sustainable APYs for its investors.
For more information on Octoblock:
Website: https://octoblock.io/
Buy OCTO: https://reef.octoblock.io/register
