pSTAKE Successfully Launches BTC Liquid Staking Testnet on Babylon to Unlock Bitcoin’s True Value

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: Jul 03 2024

BTC-0.436%

ATOM-4.055%

Should l Buy BTC?

pSTAKE Finance's Bitcoin Liquid Staking Testnet: The testnet is live on Babylon, allowing users to unlock 21 million Bitcoin for securing the decentralized economy.
Accessing the Testnet: Early access can be obtained through invite codes on pSTAKE Telegram or Discord, with support for OKX Wallet and upcoming Ledger and Bitget integration.
Future Plans: The mainnet launch of Bitcoin liquid staking is imminent, with a points program for testnet participants and plans for introducing yBTC in v3 and multiple yield avenues in v4.
Focus on Bitcoin: pSTAKE Finance aims to tap into Bitcoin's potential by offering liquid staking to earn rewards while maintaining liquidity, highlighting the shift towards utilizing Bitcoin for decentralized finance.
Security Measures: The protocol has undergone rigorous security audits, and Babylon has completed its own auditing process to ensure user fund safety and overall security.

Get Real-Time Alerts for Any Crypto Movement

Monitor assets like BTC with instant alerts on price breakouts and whale movements. Don't let a 24/7 market leave you behind.

Technical Analysis for BTC

Technical Sentiment Analysis for Bitcoin (BTC). As of , Bitcoin (BTC) is exhibiting a Buy technical sentiment. Our proprietary analysis, which aggregates 7 technical signals, shows that 5 indicators are flashing buy, while 2 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for BTC stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.

Support, Resistance & Moving Averages. From a structural perspective, BTC is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

Bitcoin (BTC) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	58345.061	62028.59	65489.941	69173.47	72634.821	76318.35	79779.701
Fibonacci	62028.59	64757.934	66444.126	69173.47	71902.814	73589.006	76318.35

About BTC

Bitcoin is a decentralized cryptocurrency originally described in a 2008 whitepaper by a person, or group of people, using the alias Satoshi Nakamoto. It was launched soon after, in January 2009.Bitcoin is a peer-to-peer online currency, meaning that all transactions happen directly between equal, independent network participants, without the need for any intermediary to permit or facilitate them. Bitcoin was created, according to Nakamoto’s own words, to allow “online payments to be sent directly from one party to another without going through a financial institution.”Some concepts for a similar type of a decentralized electronic currency precede BTC, but Bitcoin holds the distinction of being the first-ever cryptocurrency to come into actual use.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

GET FREE REAL TIME NOTIFICATIONS

Stock Monitor for BTC?

Get Started Free

FREE STOCK RECOMMENDATIONS DAILY

Stock Bullish Tomorrow

Get Started Free

70% BACKTESTED ACCURACY!

Should I Buy BTC?

Get Started Free