PAIR: SALTBTC & SALTUSD
SALT (SALT) Market Capitalization Hits $250590385 as Price Rises to $4.32326: Up 3.52 Percent in the Last Day.
SALT is a platform facilitating blockchain-asset-backed loans. Their website states "SALT lets you leverage your blockchain assets to secure cash loans.
We make it easy to get money without having to sell your favorite investment."
The SALT Lending platform issued ~45% of the total supply of 120 million tokens as an ICO in August 2017.
SALT tokens technically represent 'memberships' in the SALT Lending platform, though this seems a distinction made mostly for legal reasons.
SALT is a membership-based lending and borrowing network that allows users to leverage their blockchain assets to secure cash loans. On the SALT platform, users can obtain loans using their cryptocurrency holdings as collateral.
With SALT, users can leverage the value of certain digital assets, thereby giving them access to cash, offsetting tax events, avoiding exchange fees and maintaining their long position in the asset they hold.
Users need to obtain SALT tokens in order to participate on the platform and obtain loans. The more SALT tokens users spend each year, the larger amount of borrowings they can obtain.
With the SALT platform, users can obtain liquidity from their cryptocurrency holdings without selling them, just like other traditional asset classes such as stocks, bonds, real estate, and commodities.
SALT loans are exclusively collateral-based, which means that the borrower’s credit history is inconsequential. Any user’s collateral has the same value to lenders as anyone else on the platform, regardless of each user’s credit score.
The picture below shows the process of obtaining a loan on the SALT platform.Something shown below the value tiers of the product offered:
Age 7 mos
Marketcap (current) $243.42M
Marketcap (Y2050) $503.95M
Price (USD) $4.20
Price (BTC) 0.00045฿
24hr Change (%) -0.01%
24hr Trade Volume $14.77M
All Time High $17.74
All Time High Date 2017-12-29
% down from ATH 76.33%
1 week 16%
1 month 102%
3 months -40%
6 months 46%
While is was dropping down to 1.82usd in price, it maintained its trend in a pattern called FALLING WEDGE,which it broke out from and it to make a high to its current price 4.25usd.More up side is in play as the fibonacci retracement level of the its whole move pegged to draw price back to 50% back of the price(0.5 fib retracement level)
With the use of the DOUBLE CLOUD SETTING of the ICHIMOKU CLOUD, price has gone down so fast and calling for reversal back to the up side as there is a current TK bullish cross taking place and price has broken through the cloud resistance and has closed inside the cloud. When price enters the cloud and closes inside it, there is high probability that it will touch the up side of the cloud( which most times serve as a resistance inside the cloud and also the 0.5fibonacci retracement level). The trade set up is called the EDGE TO EDGE(E2E) TRADE. The USD and BTC pairs are following the same move, inside the cloud.
Techincals suggest that a bullish move is loading up and will likely hit its targets as the price has closed inside the cloud.
BUY: current price or 0.00044761฿
SELL: 0.00065941฿ up to 0.00073649฿
STOP LOSS: 0.00035784฿
Disclaimer: This is for educational purposes,it is not intended as a financial advice.
The analyst won't be responsible for a loss of fund. Trader should be able to manage risk.