PancakeSwap has partnered with BetFury to launch a $50,000 trading competition running from December 24, 2024, to January 12, 2025.

Daily Top Performer — Phala Network (PHA)

The S&P 500 rose 1.1%, marking its third straight gain and the start of the Santa Claus rally. Growth and megacap tech stocks led, driven by optimism in AI and long-term tech trends, despite elevated Treasury yields. Coindesk Indices, an index measuring broader cryptocurrency market performance was up by 4.18%, with Bitcoin and Ether rising by 4.52% and 1.90%, respectively in the past 24 hours.

Today's top performer is PHA, which surged 63.4% after the announcement of Phala Network's 2024 achievements and 2025 roadmap, featuring decentralized GPU AI advancements and strategic partnerships.

The Phala Network (PHA), founded in 2018, is a decentralized cloud computing platform that uses excess computing power from everyday devices. It operates with Gatekeeper and Miner nodes, offering secure and scalable cloud services. Phala also launched Khala (PHA) on the Kusama network in 2021. 

 include co-building a decentralized GPU network, enhancing AI model training, and partnerships with projects like SentientAGI and MorpheusAIs. The Phala Treasury allocated 37% to infrastructure, 20% to community, and 43% to marketing. Social media efforts generated millions of impressions and engagements, while the network participated in six events and established 15 partnerships. Phala 2.0, launching in 2025, will integrate GPU TEE technology and Ethereum Layer 2 scalability for AI and Web3 applications.

Check Out the Latest Prices, Charts, and Data of 

 to launch a $50,000 trading competition running from December 24, 2024, to January 12, 2025. Participants can earn rewards by trading BFG tokens on the PancakeSwap Web interface or Telegram Swap-Bot. The competition includes daily lucky draws with $10,000 USDT, a leaderboard with $30,000 in BFG tokens for top traders, and $10,000 USDT for traders using the Telegram Swap-Bot. To qualify, participants must meet specific trading volume requirements, with rewards distributed in USDT and BFG tokens.

Yesterday, Bitcoin Spot ETF flows remained unchanged for GBTC, while non-GBTC ETFs experienced outflows of $149.7 million, bringing total outflows to $149.7 million.

: Astherus lets you farm while qualifying for Lista DAO Season 2, while Superform involves depositing ETH on Base via Moonwell WETH Morpho vault. Mitosis allows Linea airdrop qualification by holding funds, and Symbiotic rewards large token deposits on Ethereum mainnet. Mind Network offers bigger airdrop allocations for farming vFHE by depositing eETH. Solayer requires depositing and delegating SOL or derivatives to rank higher, and Drift's second airdrop involves liquid staking SOL to earn and lend dSOL.

Beginner

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PancakeSwap and BetFury Launch $50,000 Trading Competition with BFG Token Rewards

In this tutorial, we’ll explore how you can complete a series of tasks in Orochi Network for Bybit Web3 Airdrop Arcade.

In this tutorial, we’ll explore how you can complete Orochi Network tasks for Bybit Web3 Airdrop Arcade. 

Task 2: Quote Orochi Network's Post and Tag 3 Friends

: Navigate to Orochi Network’s pinned post on X.

: Quote the tweet with your thoughts, and tag 3 friends.

 button at the top right corner of the page.

: The Orochi ID window will pop up. You may choose to sign up for an Orochi ID using your Google account, GitHub or email address.

: Congratulations! You’ve successfully created your Orochi ID. 

Task 4: Join the Contribute to Earn Program

: Connect your Wallet, Google account and Discord to be eligible.

: Once you’ve successfully connected all accounts, you’ll have completed this task.

 all of the four tasks above for your chance to 

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How to Complete Orochi Network Tasks for Bybit Web3 Airdrop Arcade

MegaETH is an EVM-compatible blockchain with real-time Web 2.0–level performance. Learn more about MegaETH.

 has long been a formidable challenge for the blockchain industry. Most established chains maintain decentralization and security, but struggle with limited scalability while high-performance 

 (L1) blockchains often compromise decentralization to achieve high throughput. 

What if we could push throughput to unprecedented levels without compromising security or decentralization? 

Enter MegaETH — a project backed by industry leaders such as Ethereum co-founder Vitalik Buterin, ConsenSys CEO Joseph Lubin and Dragonfly Capital. With the first real-time 

 (EVM)–compatible chain —i.e., one that can process transactions as soon as they arrive, and then publish the resulting state changes — MegaETH aims to redefine blockchain performance. In this article, we delve into the scaling limitations of current blockchains and examine how MegaETH aims to solve them. Let's dive in!

The blockchain trilemma has posed a significant challenge for 

 developers for years. As Ethereum co-founder Vitalik Buterin explains, distributed ledger networks can only achieve two out of three critical qualities (security, decentralization and scalability) by using simple techniques. 

As a result, most high-performance chains, such as Solana, Avalanche and BNB Chain, often compromise on decentralization or security to achieve scalability.

To address the scalability challenges of L1 networks, developers have introduced 

 (L2) solutions, which operate on top of blockchains such as Ethereum. These L2 chains achieve 

 (TPS) while leveraging the security and decentralization of their underlying L1s. However, according to MegaETH, both high-performance L1 and L2 networks fall short of meeting the demands of Web 2.0–scale applications, particularly in terms of 

As shown in the table above, the blockchain with the highest scalability, opBNB, achieves a gas rate of 100 MGas/s, equivalent to 650 Uniswap swaps or 3,700 

 transfers per second. In comparison, modern databases can 

 over 1 million TPC-C TPS. While Arbitrum One, the fastest chain listed, offers a block time of 0.25 seconds, this remains insufficient for applications requiring rapid feedback or high update rates. 

These limitations in both scalability and speed make current high-performance L1s and L2s ill-suited for Web 2.0 applications with significant computational demands.

 is an EVM-compatible blockchain with real-time Web 2.0–level performance. With the goal of bridging the gap between distributed ledger networks and traditional cloud computing servers, the project aims to push the performance of Ethereum-based L2s to hardware limits. As the first real-time blockchain, MegaETH can stream transactions at 100,000 TPS with transaction fees under $0.01, and provide millisecond-level responsiveness without sacrificing security or decentralization.

MegaLabs, the organization behind MegaETH, was founded in early 2023 by Shuyao Kong and Yilong Li. Holding an MBA from Harvard Business School, Kong has a background in business development within the blockchain industry. Prior to co-founding MegaLabs, she was the global head of business development at ConsenSys, where she continues to serve as an advisor.

As the Chief Executive Officer (CEO) of MegaLabs, Li has a PhD in computer science from Stanford University. An experienced software developer, he previously worked at Runtime Verification Inc., a firm specializing in software analysis tools and the application of formal methods to improve computing systems.

Together, Kong and Li founded MegaLabs in early 2023 to leverage their business development and computer science expertise to build MegaETH as the first real-time blockchain.

 $20 million of funding in a single seed round at a 9-figure valuation. The round was led by Dragonfly Capital, with other notable venture capitalists including Figment Capital, Folius Ventures, Robot Ventures, Big Brain Holdings, Tangent Ventures and Credibly Neutral. In addition to VCs, MegaETH is backed by high-profile angel investors, such as Ethereum co-founder Vitalik Buterin, ConsenSys CEO Joseph Lubin and EigenLayer creator Sreeram Kannan.

 on crypto trader Cobie’s decentralized fundraising platform, Echo. The round was fully funded within minutes and oversubscribed, showing significant investor demand.

MegaETH achieves over 100,000 TPS with less than 1 ms latency and block time, as well as transaction fees under $0.01, via two core features: a heterogenous blockchain architecture and a hyper-optimized EVM execution environment.

MegaETH's heterogeneous blockchain architecture enables network nodes with different hardware configurations to specialize in specific tasks to boost performance.

There are three types of nodes: sequencers, full nodes and provers. With cutting-edge hardware, a small set of sequencers conduct performance-critical tasks such as transaction execution. Simultaneously, a massively decentralized network of full nodes performs security-critical duties such as block validation. Provers have the lowest hardware requirements, and focus on providing L2 proofs to full nodes.

Hyper-Optimized EVM Execution Environment

MegaETH provides a hyper-optimized EVM execution environment to push latency, throughput and resource efficiency to hardware limits. Consequently, the real-time blockchain can process large volumes of transactions as soon as they arrive, and publish the resulting state changes in a few milliseconds.

To enable real-time EVM execution, MegaETH co-designed a low-latency, streaming-based block-building algorithm with a concurrency control protocol supporting transaction prioritization.

MegaETH's real-time blockchain scales without sacrificing decentralization and security through the following key components and features.

 is an extension of the MegaETH core team. It consists of a group of 10x builders hand-picked by MegaETH developers. According to the project, MegaMafia participants have "an internal compass guiding them toward crypto's world domination."

MegaETH defines three common qualities for MegaMafia members:

MegaETH is setting a new standard for blockchain scalability, addressing long-standing limitations without compromising decentralization or security. By combining innovative architectural decisions with technologies like real-time EVM execution, in-memory computing and smart contract JIT compilation, this real-time L1 chain delivers unmatched performance tailored for Web 2.0–scale applications.

Supported by high-profile investors, such as Vitalik Buterin and Joseph Lubin, MegaETH is poised to bridge the gap between blockchain and traditional computing, unlocking new possibilities for decentralized applications. The project is on track to launch its testnet in early 2025, with the mainnet rollout soon thereafter.

Advanced

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MegaETH: A Real-Time Blockchain for Web 2.0–Scale DApps

Grayscale has launched the Horizen Trust, a fund that allows qualified investors to gain exposure to the cryptocurrency ZEN without the need to buy, store, or safeguard it.

Daily Top Performer — Convex Finance (CVX)

The S&P 500 rose 0.73%, driven by big tech and communication services, as investors anticipate a "Santa Claus Rally" to close the year. Coindesk Indices, an index measuring broader cryptocurrency market performance was up by 1.61%, with Bitcoin dropping by 2.58% and Ether rising by 4.32%, respectively in the past 24 hours.

Today's top performer is CVX, which surged 28.1% following Frax's consideration of BlackRock's BUIDL token as backing for the rebranded frxUSD stablecoin.

Convex Finance (CVX), launched in May 2021, is a DeFi protocol that boosts yields for Curve protocol users on Ethereum. It allows for staking to earn CRV and CVX tokens and provides voting rights on token allocations. Securitize has 

 adding BlackRock's BUIDL token as backing for Frax's rebranded Frax USD (frxUSD) stablecoin, which will feature a new mint-redeem system. Early feedback from Frax DAO members is positive. Competing proposals from Superstate also suggest backing frxUSD with their tokenized funds. The final backing structure is still undecided.

, a fund that allows qualified investors to gain exposure to the cryptocurrency ZEN without the need to buy, store, or safeguard it. The fund's shares track the market price of ZEN, net of fees. While the shares have been traded at both a premium and discount, the fund aims to provide a simpler way for investors to gain exposure to ZEN. Grayscale is also expanding its offerings, with plans for a Solana spot ETF.

Yesterday, BTC Spot ETFs recorded total outflows of $258.2 million, including $38.4 million from GBTC and $219.8 million from non-GBTC funds.

, distributing $SONIC tokens to those who participate. Over 2 million users have joined through an easy onboarding process, requiring no wallet setup or gas fees. To qualify for the airdrop, users must log in via TikTok, access SonicX, and wait for the $SONIC claim banner. SonicX, part of the Sonic SVM app layer, uses TikTok ads and creator partnerships to promote its gaming and blockchain education hub. The project aims to expand its TikTok Chain with new games and future token rewards.

Grayscale Introduces Horizen Trust for ZEN Investment Access

Strategies

Trading

Supply and demand zones are consolidation areas that occur before an explosive upward or downward price movement.

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 and trading that can help traders identify potential areas of market reversals or trend continuations in cryptocurrency markets. Understanding how supply and demand levels work can be an invaluable tool for traders looking to make more informed decisions in the financial markets. 

In this article, we’ll provide an overview of the successful use of supply and demand zones in cryptocurrency trading, including identifying these zones on price charts and implementing them in a trading strategy, and their pros and cons. Whether you’re a new or experienced trader, mastering the art of supply and demand zones can give you an edge in trading.

Supply and demand zones are price areas where larger market participants, such as 

 or institutional asset managers, are presumed to be accumulating (buying) or distributing (selling) cryptocurrency. 

Relatively sideways consolidations characterize these zones before an explosive move. Supply and demand zones can indicate a possible reversal or continuation of an existing trend.

 or move must be present to use supply and demand zones effectively. This move is a quick and pronounced shift in price direction populated by large red (downswing) or green (upswing) candles. A consolidation zone would be considered normal price consolidation without this impulse move.

In technical analysis, cryptocurrency prices are solely determined by the interaction between supply and demand. When demand exceeds supply, prices rise, and when supply surpasses demand, prices fall. This dynamic is roughly balanced at times, resulting in price consolidations within a range.

Therefore, supply and demand zones are a form of 

, or relatively sideways price action, that occurs before an explosive move.

 The impulse wave indicates that the market is leaving a supply or demand zone, and traders can use it to identify an imbalance between buy and sell orders. This imbalance marks the start of a trend. Traders use supply and demand zones to determine price ranges where demand decreases and supply increases during downtrends, and where demand increases and supply decreases during uptrends.

The following Bitcoin chart depicts some of the supply and demand zones over a 2-year period.

A supply zone is a price area that marks the beginning of a sharp, fast downtrend move, either as a bearish reversal or downtrend continuation. Typically, selling or distribution takes place within the supply zone. Eventually, a significant imbalance will result in a rapid decline in prices. You’ll profit from 

A demand zone denotes a price range that signals the start of a sharp uptrend, either as a bullish reversal or uptrend continuation. Within the demand zone, accumulation or buying is occurring. At some point, an imbalance between supply and demand occurs, leading to a swift rise in price. You can take a 

To identify supply and demand zones, we want to look for impulse moves. An impulse move shows a clear imbalance between the two forces of supply and demand, culminating in a sharp move either up or down. When scanning charts, look for large red or green candles within a sharp trend to quickly find supply and demand zones. 

Furthermore, for trend continuation setups, look for short bases following an impulse wave in anticipation of a continuation. Sharp swings frequently consolidate for a short time before price continues to trend again. This is especially true with impulse waves.

This next daily chart of XRP/USD showcases some examples.

Supply and demand zones are found at the beginning of an impulse move. Therefore, first find the impulse moves to determine the supply and demand zones.

First, find a declining impulse move and look at the beginning of the move. Start drawing the top horizontal line from the highest candle wicks of the zone, then extend the rectangular box to the lower line where downside momentum is triggered, that is, at the beginning of a long red candle, as shown below.

When looking to draw a demand zone, you first want to find a sharp rally or an ascending impulse move. Then, find the consolidation zone near the beginning of the move. Start drawing the rectangle at the lower wicks of the demand zone, and end where the large green candle begins to show upward momentum improving. The beginning of the green candle’s breakout area is where momentum has taken off.

The stronger the price move after the zone, the greater the credibility of the zone. What is the strength (up or down) of the movement following a supply or demand zone? This analysis is largely a judgment call, but there are a few things to look for to increase accuracy. First, are there relatively larger green (uptrend) or red (downtrend) candles? Is the move faster and more significant than has been seen recently? Did the breakout take off immediately — or hesitate?

Time refers to the amount of time that a supply or demand zone takes to form — in other words, how long it takes for the consolidation period to develop. A zone that has been in place for an extended period is likely to be stronger and more reliable, because the longer the basing period, the greater the potential for a sharper and longer move once a breakout or breakdown occurs.

One of the most important things to consider when identifying a supply and demand zone is how fresh it is. Freshness relates to whether the zone has been tested yet, or how many times it’s been tested. The fewer tests, the fresher it is. A fresh zone is more likely to function as a supply and demand zone once again during a pullback, presenting a second opportunity to enter. However, the more frequently a zone has been tested, the more likely it will be busted. 

The notion of freshness in supply and demand zones is unlike that of support and resistance, where price levels gain strength from being retested multiple times by the market.

Supply and demand zone trading strategies include setups for trend reversals and continuations. However, this is one tool for market analysis, and the quality of the analysis can be enhanced by using other market analysis or technical indicators along with supply and demand analysis.

 strategy, a trader is looking to enter the market following the first test to the zone. When a sudden move or impulse wave occurs, a certain degree of pullback typically follows. You can enter on that pullback if it returns to the zone, as it usually provides a safer entry with a tighter protective stop.

When an uptrend breaks out from a demand zone, the trader waits for the price to “pull back” to the zone's support level in anticipation of a continued upward movement. In the case of a breakdown from a supply zone, the trader is looking for a pullback into the resistance of the zone in anticipation of a bearish continuation.

When defining the entry, traders will look at other technical indicators for 

 to confirm the setup. For example, see if you can spot the signs for confirmation in the chart below. A 

 confirm the reversals in the chart below.

In the case of the breakout strategy, traders are seeking a relatively short area of consolidation for a trend continuation following an initial impulse move. This first chart shows a bullish breakout strategy.

 involves trading within a specific price range that’s defined by a supply zone and a demand zone. Traders aim to buy near the lows of the range and sell near the highs, or vice versa. They then exit the trade when the price reaches the opposite side of the range.

A momentum oscillator can be helpful in timing the trades for this strategy. The example below uses the 14-day 

 (RSI) indicator. Generally, an intraday time frame is going to be more useful in trading cryptocurrency with this strategy, though it also depends on the volatility of the cryptocurrency traded. 

While analyzing candle setups alone may not always provide clear insights, the RSI indicator can confirm the observations in price behavior. The vertical lines illustrated below identify when the RSI turns up for buying opportunities, and down for selling opportunities.

Many traders consider supply and demand zones as resistance or support, respectively. But while both supply and demand zones and 

 are used to identify key price areas with buying or selling pressure, there are some crucial differences.

Supply and demand zones point to specific price levels with a concentration of either buyers or sellers, resulting in an imbalance between supply and demand. In supply and demand zone trading, traders are looking to identify fresh or recent price action.

Conversely, support and resistance levels are price levels where buyers and sellers have historically entered or exited the market, respectively. In other words, supply and demand zones are fresh or more recent price areas, whereas support and resistance price levels may be recent or current price areas, but are also identified historically.

Supply and demand zones are more useful in trading, given their more recent price action. In contrast, using support and resistance levels can be useful in a broader context for trade or market analysis, but it’s not as helpful for establishing specific trade strategies.

: Supply and demand trading is based on objective data, such as price, volume and investor sentiment. This helps reduce the impact of emotions and biases on trading decisions.

: Supply and demand trading provides a versatile approach to trading, as it can be applied to any market, asset class or time frame.

:There are times that the signals may be very accurate for entering and exiting trades. This is because supply and demand trading’s focus is on key price levels where significant buying or selling pressure is likely to occur.

: By identifying key resistance and support areas, supply and demand trading can help traders manage risk by using it to place appropriate 

: If executed correctly, supply and demand trading can generate high returns due to the favorable 

:Using supply and demand strategies in trading can be a complex process, and traders should have a solid understanding of technical analysis, market dynamics and 

: While the data may be objective, the interpretation of that data can be subjective, differing from one trader to another.

:Supply and demand trading requires significant time and effort to identify key price levels, keep levels up to date, find setups and execute trades.

:False signals are possible, and can lead to losses or missed opportunities.

Understanding supply and demand zones is crucial for successful trading. Some tips for successful trading with supply and demand zones include differentiating between support and resistance on one hand and supply and demand on the other, recognizing impulse waves emerging from zones, and considering the pros and cons of this methodology. Combining these strategies with other tools and indicators can increase your likelihood of success when trading with supply and demand zones.

Supply and Demand Zones: Tips For Successful Trading

Grab Up to 5,000 USDT in Rewards

Grab Up to 5,000 USDT in Rewards