These 2 indicators gave traders a buy signal hours before Filecoin and Near rallied

In financial markets, the unequal distribution of information goes hand in hand with the unequal distribution of economic power. The cry...


In financial markets, the unequal distribution of information goes hand in hand with the unequal distribution of economic power. The cryptocurrency market is no exception and often those with insider knowledge or access to industry-grade data intelligence tools can use their digital assets in a way that the investor can daily detail could never do.

Nonetheless, regular traders can profitably take advantage of publicly available and changing market information if they are fortunate enough to access it before the rest of the pack. Research suggests that certain types of news announcements, such as those related to staking, listings, and partnerships, have the greatest potential to drive crypto prices.

Last week, when it became known that two blockchain protocols had forged a partnership, the price of the two linked tokens immediately skyrocketed. Was there a way for Main Street investors to join the payoff party early?

The power of collaboration

In most cases, high-profile, evolving partnership announcements feature an encryption protocol or associated asset on one side and an entity that is not represented by a digital token on the other – think about an NFT platform in partnership with a leading sports club. As a result, there is usually only one digital asset that should benefit from the news.

On August 10, however, something quite unusual happened. A collaboration between Filecoin and NEAR Protocol, which enabled decentralized NEAR-based applications to integrate Filecoin-based storage, has been announced and the development has resulted in huge gains for both assets.

FIL price table. Source: Cointelegraph Markets Pro

the announcement first appeared on the Filecoin blog on August 10 at 5:32 p.m. UTC. and the news took about three hours to reach NEAR’s Twitter account. Most of those unfamiliar with updating the Filecoin blog at least hourly should wait for the ad to spread through Twitter feeds to find out about the collaboration.

The price of the FIL took off immediately after the publication of the first announcement (first golden circle on the chart). By the time of the first post, FIL had changed hands for $ 65.50 and by the time the second notification landed (second golden circle) the altcoin had already reached $ 69. The next day, it hit $ 75, for a maximum return of 12%.

NEAR the price table. Source: Cointelegraph Markets Pro

NEAR was trading at $ 2.73 when the news broke and by the time the ad reached Twitter, the token had risen to $ 2.84. About 48 hours after the initial release, NEAR had reached $ 3.42, an overall increase of over 20%.

The golden circles in the graph represent the times when subscribers of CT Markets Pro, Cointelegraph’s data intelligence platform, has received automated alerts of news announcements that could cause price changes, known as NewsQuakes ™. The first alert arrived within a minute of the original post on Filecoin’s blog, giving recipients a three-hour lead time before the news reached Crypto Twitter.

NewsQuakes ™ is an artificial intelligence-based system that automatically sifts through thousands of websites and social feeds for market-changing developments moments after they are published by primary sources.

CT Markets Pro users receive an alert at a rate that often beats most other social and media sources where marketers normally find actionable news. In fact, NewsQuakes ™ is the same service that Cointelegraph editors (as well as those of our major competitors) use to keep up with the latest stories to cover.

Capitalizing on the rise of FIL and NEAR required a solid understanding of the synergies that could emerge from the collaboration of the two protocols and the value that the market will attribute to them.

However, it was equally important to learn the news quickly and to have the time to act on it. While no algorithmic tool can replace good judgment, NewsQuakes ™ can help with the second part of the equation.

Cointelegraph is a publisher of financial information, not an investment advisor. We do not provide personalized or individualized investment advice. Cryptocurrencies are volatile investments and carry significant risk, including the risk of permanent and total loss. Past performance does not represent future results. Figures and graphics are correct at time of writing or as otherwise specified. Strategies tested live are not recommendations. Consult your financial advisor before making any financial decisions. Full terms and conditions.



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Newsrust - US Top News: These 2 indicators gave traders a buy signal hours before Filecoin and Near rallied
These 2 indicators gave traders a buy signal hours before Filecoin and Near rallied
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