After MultiversX, we asked you which token you wanted us to investigate. The big winner is the CAPS, the native token of the temporal Blockchain Ternoa!
Warning : This article does not constitute investment advice or an invitation to invest. This is just an article for purpose strictly informative. You are the only responsible trading and investment decisions you makez.
Introduction to Ternoa and its token: CAPS
Ternoa is a new french blockchain whose mainnet is being rolled out in phases. The blockchain will provide caps (encrypted digital safe) that can be transmitted via different protocols. System which could be very used in particular by the notaries for the transmission of inheritance. In addition, Ternoa will be the first blockchain to massively implement the “NFT secrets” thus allowing to have a hidden face visible only by the owner.
It remains to be seen if the team will keep its promises, but for now, let’s study their token, the $CAPS.
This token is the native currency of the Blockchain and will serve, among other things, payment of fees like ETH for the Ethereum blockchain. Moreover, just like Ethereum again, this one works via the Proof of Stake (PoS), i.e. the security of the network depends on the quantity of staking tokens.
Let’s see their tokenomics. On March 8, 2023 according to CoinMarketCap :
- Number of tokens in circulation: 980,260,538
- Quantity in staking: 50%
- Maximum number of tokens provided: 2,500,000,000
- % in circulation: 39%
The token does not have a burn mechanism, however for a limited total quantity this is not necessarily necessary. The staking share seems correct to ensure network security. The black dot is rather on the side of validators because they are only 21…
Where are we?
Since its release at the end of Bullrun, we can say that the token has experienced a lot of weaknesses.
Nevertheless, it seems to have found a low point at which investors originally bought the token before it was listed. Moreover, we could imagine that people knew something since the bullish rally (x14 in wick to wick) was done just before the listing on SwissBorg. So now what to do for those who are not in it and for those who are?
CAPS, what to expect next?
A pump like this, it’s wonderful in a bearmarket. This makes it possible to bring in capital on profit taking, which is quite rare.
For sellers, please keep in mind that we remain in bear and that therefore the potential of a strong cryptocurrency in bear is all the greater in bull. Everyone will analyze my words and decide on their method of sale.
For those who have not yet returned or wish to return : if you urgently want to buy, STOP. We do not become a victim of FOMO (Fear of missing out).
Take a breath, do your technical analysis, and ask ourselves: where will I buy if I was a professional?
The answer is often the same. On the supports and in the reloading area. I helped you a little above, but let’s start again together.
Two large supports present themselves to us in an intuitive way:
- The area redeemed all the way down and served before the bullish start.
- The big zone, which we broke, with a retest (red wick at the end of February).
We add to that the Fibonacci retracements, which tells us that thewe must not invest higher than 0.618, here placed at $0.03.
This therefore gives us two buying zones, at $0.02 and at $0,008.
However, two other areas seem important as well. Just below 0.618 around $0,028 which were a small resistance to pass and finally the previous volume area at $0.014. This makes it possible to have four well-defined entry zones for investors who so wish.
Finally, Buy means nothing without selling. You will then have to determine how to sell during the bullrun. To do this, you can use the SHAD method which we have already talked about.
As you will have understood, we have in front of us a blockchain with very interesting potential, but it has to manage to set up all its goals to prepare for the next bullrun. Be careful, nothing is ever certain in nascent projects, moreover the number of validators must improve to ensure the security of the blockchain…
Entrepreneur & Dad, passionate about cryptocurrencies, I describe for you the technical analysis.
My job: look at charts and interpret them for you.
Beware I do not know all the truths.