Cryptocurrencies Price Prediction: Ethereum Classic, Shiba Inu, Uniswap — Asian Wrap 13 May

Ethereum Classic Price Prediction: ETC gains threatened as market goes into tailspin

Ethereum Classic price shows a quick run-up after a nasty crash on Wednesday’s trading session. ETC needs to climb past the demand levels and create a higher high to signal the start of a new uptrend.

Ethereum Classic gains in jeopardy

Ethereum Classic price dropped a whopping 30%, undoing most of its gains as it created lower highs and lower lows, a classic sign of a downtrend. During this crash, ETC sliced through the immediate demand zone that extends from $86.27 to $99.50 and found a stable base as it pierced the next support area, ranging from $72.31 to $81.67.

SHIB price plunges after Vitalik Buterin dumps dog-themed tokens

Vitalik Buterin, co-creator of Ethereum, recently became one of the world’s richest people with a net worth topping $21 billion. Although the recent price hike of Ethereum boosted Buterin’s total assets, only $1.3 billion resulted from his ETH holdings. The rest of his fortune was made up of dog-themed tokens that he was gifted. 

Vitalik Buterin regifts his dog coins

The Shiba Inu cryptocurrency creators announced in April that they had transferred half of all SHIB in circulation to Buterin. Under this process, the founders believe that they could legitimize the token and protect the circulation. 

Uniswap price sharply reverses while Buterin proposes UNI as an oracle token

Uniswap price has steadily climbed since the February sell-off, but the price gains have been muted relative to the performance of other altcoins, particularly since the March low. UNI is currently trading just above the mid-line of an ascending channel, offering few clues about price direction.

Uniswap benefits from a more robust stablecoin ecosystem 

On Uniswap’s governance forum, Ethereum creator Vitalik Buterin advocated that UNI should be an oracle token for successful decentralized finance (DeFi) ecosystem and fiat currencies. Oracles are used for broadcasting and sharing price data, determining liquidation prices and thwarting 51% attacks. Simply put, price oracles are essentially data feeds that connect Ethereum to off-chain, real-time information so smart contracts can utilize them.