Connectors And Toolkits On The Blockchain

From time to time we find gems💎, often surrounded by junk (irrelevant projects) that by their sheer numbers, distract the attention through promises that are either fake or can not be kept.

The lead actor

The gem of this post is $DREP, a blockchain connector and a toolkit that is featuring gamification tools. Who said one click deployment on DAPPs, and on multiple public chains?

Technicals TLDR

The DREP Chain is based on an improved version of the traditional Practical-Byzantine-Fault-Tolerant (PBFT) consensus mechanism and Delegated Proof-of-Stake (DPOS) consensus mechanism. DREP Chain is further compatible with smart contracts in the Ethereum Virtual Machine and WebAssembly formats. The DREP Chain has a dual-layer structure consisting of a root chain and customizable sub-chains.

In short , we note that the DREP token has multiple fuctions like paying for gas fees as means of mayment for transactions between sub chains , in future DREP games.

Token distribution

Why call this now?

Alright, now we have an overview of the asset , we know that fundamentally there is nothing newsworthy happening , but what about the way the chart acts?
Just before we dive into the technical why, you will need to keep in mind that this token is a symbiote to web3 projects that are either game , delegated PoS or simply monetizing projects(games) that aren’t built with that in mind. The future of this project lies withing a market that is now sedated by the bearishness of the market…. NFTs and gamification.
We are absolutely sure that the next wave will have a huge impact in the years to come, and this project will be there to reap the profits.

Technical analysis for DREP in 2022

Long opportunities form when the market sucks, it’s really that simple. And because the whole market is unstable, waiting FED rate hikes and USD in pumping and dumping , having a precise entry is difficult if not impossible .

DREP 3 day chart

Looks scammy, doesn’t it? The DREP chart isn’t one of the cleanest we analyzed recently and this is due to the fact that it has a low of whale holders that are willing to pump and dump it in cycles, and guess what, dumping from this point would not make any sense , so the only way is …

We can note 3 technical aspects on this 3 day or even the 1 day chart:
1. We are in a LP (Liquidity pool)
2. We plotted a Higher low
3. We are in a well defined descending channel

The volume has an interesting fact hidden aswel

Notice these volume peaks? They all happen in the end of the week, especially on saturday, this might be an indication that the whales that move it are not institutionals after all but early birds.

Trade recommendations

This trade, should be projected to take profit in around 150 days. With that in mind you can decide to allocate anywhere from 2% to 5% and enter in a DCA manner. The exact settings that we recommend for this trade can be found on our SPOT channel, where this trade was posted.

Final word

This is by no means the perfect project, but it made it as a gem because of the technical position it is in and because of the fundamentals that really can not go any lower unless there is a major problem with the code itself.

Interesting Drep read to consolidate your due dilligence : DREP Medium article

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