This week we updated our latest tool, the Backtesting Bot. The majority of you are probably already familiar with our revolutionary tool, but let’s just quickly dive into it for the new members of the community who aren't familiar with it yet. The Backtesting Bot uses our own proprietary algorithms to automatically detect the most important patterns on the price charts of top cryptocurrencies. Apart from simply detecting the patterns, it also calculates the technical price target and looks at how many of the patterns hit it, giving you a success rate expressed as a percentage.
Originally the Bot had the option of backtesting three different patterns, but this week we’ve added two more. The initial list of Head and Shoulders, Double Top and Double Bottom patterns was expanded with Ascending and Descending Triangle Formations. Now traders will be able to test even more strategies without extensive programming knowledge or wasting time on incorporating data samples from charts, all in a few clicks.
On Thursday our NWC token was listed on the Crypto.com DeFi wallet. From now on our holders have another option of storage for their tokens, specifically for the Ethereum (ERC20) version. It is a non-custodial wallet, like our native NewsCrypto mobile wallet or MetaMask, that puts you in complete control of your crypto as you’re given your own private keys, therefore you don't have to rely on a third party (custodian) to keep your crypto safe.
We’ve also posted a Twitter Thread about the Metaverse, which is available here. It quickly dives into what Metaverse is and why it presents a great investment opportunity. The recent boom in popularity of Metaverse gave our team a signal that you want to know more about it, therefore we also decided to expand our Academy with Metaverse content. You can expect new sections to be uploaded soon. If you still haven’t checked other Academy content on the platform, make sure you check it out here.
This Friday we also burned another million of NWC tokens to celebrate the release of our Stellar-Polygon bridge on Mainnet. We still have 4 burns left until the end of this year, which means you need to get ready for lots of burning in the upcoming weeks.
As for our regular posts, this week’s Market Price report was about Sandbox (SAND), while the FA report covered Vechain (VET). Our weekly How-to Crypto explained everything you need to know about Futures Contracts. This week’s Newsco Weekly Report covered everything from the recent hype around #Metaverse as Facebook changed its corporate name to Meta, to the approval of the 1st digital asset fund in the Middle East.