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$MAID MaidSafeCoin (MAID) Technical Analysis – Is MAID Ready To Set Itself Free?

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MaidSafe

How much of your life is stored digitally?

Your photos, your files, your most intimate conversations, it’s all on a hard drive somewhere and it’s probably easy to access by you, but also by the cloud storage companies you trust.

MaidSafe (MAID) is a company that is designing and implementing what they call the SAFE Network – a next-generation decentralized and secure network. The SAFE (Secure Access For Everyone) Network is a new secure and decentralized data management service that is built by sharing the unused computer resources of the individual network participants. Each user of the SAFE Network provides a part of their computer resources: data storage space, processing power, and Internet connectivity thus forming a large decentralized network.

The SAFE network puts its user’s safety and security on top of everything else and so the user data is encrypted and broken up into chunks that are spread among the users of the network. The people that participate in it are not actually aware of the data they have been asked to store on their systems, not they have direct access to what is currently stored on their computers. Furthermore as a user if you share some of your unused computing resources on the SAFE network you are going to be compensated for doing so and get paid in Safecoin crypto tokens.

The SAFE network is not being controlled by a single large entity or a multiple of global ones, it is not controlled by anyone in fact as it is decentralized and the users participating are what is essentially building up the network itself. So without people like you, the future user of the network there will be no network. There will be no privacy violations whether you decide to host your own website on the network, visit a website somebody else already made, create or run an application or just provide some of your spare computing resources to help make the SAFE network bigger and stronger.

With that said, let’s take a look at the Chart of MAID below and see what the technicals may be foreshadowing.

As we can observe from the chart above, MAID has been grinding steadily higher over the course of the past several weeks despite a difficult and challenging environment trading above both its 20 (yellow line) and 50 (blue line) day moving averages, which depicts a short as well as an intermediate-term favorable posture from a technical standpoint.

In addition, we can also see that MAID is rapidly approaching a critical inflection point designated via the light blue horizontal line on the chart acting as potential short-term resistance.

Furthermore, for the past several months (since February), the 200 (red line) day moving average has kept a lid on the price of MAID as we can witness from the daily chart above.

Nonetheless, MAID appears to be building energy/cause and may perhaps, finally be ready to attack and clear the 200DMA and set itself free.

Thus, let’s have a look at the levels to monitor moving forward for further clues/evidence that may set MAID free, once-and-for-all.

If at any time in the days ahead, MAID can go top-side of the .55 level, such development, should it indeed materialize, would more than likely trigger its next meaningful advance with a price objective in the .70-.75 zone. With respect to the potential short-term support, both investors/traders may want to monitor the .40-.43 area as well as the .35 figure to lend support.

While further work remains in order for MAID to set itself free, both investors/traders may want to pay close attention to the action in the days ahead and put MAID front-and-center on their radars.

Happy Trading!!

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Pexels

Charts courtesy of tradingview.com

Altcoins

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

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Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //

Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.

Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.

The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.

NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.

NFTs are already being actively traded in markets globally. For…

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Altcoins

Should Crypto Projects Devote Resources to Community Growth and Marketing?

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2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for.  While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory.  When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion.  But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.

I mention both of the above projects as they have each taken slightly different paths to achieve greatness.  Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion.  Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special.  Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.

Cryptocurrency vs. Blockchain Technology

It’s important to make a distinction between blockchain technology and cryptocurrency.  Although they are often used interchangeably, they are different.  Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…

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Altcoins

XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata

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Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //

The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.

As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021. 

“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.

He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”

Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”

Mr. Yamagata has been…

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