Explore Vulcan Forged (PYR), a leading web3 ecosystem with gaming, NFTs, metaverse, and its own L1 blockchain, Elysium. Discover what sets it apart.

Vulcan Forged started out as a gaming hub targeting 

 users who could access play-to-earn (P2E) games on it that are powered by 

 blockchains. However, over time, Vulcan Forged has evolved into an all-encompassing blockchain and web3 platform. It now offers Elysium (a Layer 1 blockchain), a 

 (NFT) projects, and Vulcan Studios for developing mobile and PC web3 games.

Let's explore the Vulcan Forged web3 ecosystem and learn why it's definitely a project to watch in the busy web3 space.

, a blockchain-powered gaming ecosystem, offers comprehensive solutions to web3 users, suited to all gaming needs.

Founded in 2019 by a team led by current CEO and founder Jamie Thomson, Vulcan Forged started out as a gaming hub in which users could access NFT-powered web3 games. However, with Thomson at the helm, Vulcan Forged has transitioned into a full-fledged blockchain ecosystem that’s designed to solve the challenges faced by web3 users, such as high fees, slow transaction times and user-unfriendly gaming interfaces.

At the core of its comprehensive ecosystem is Elysium, a 

 designed specifically to power gaming and the metaverse. By leveraging the Elysium blockchain, Vulcan Forged is better positioned to offer enhanced functionalities, such as dynamic NFTs, an advanced suite of tools and a more immersive gaming experience.

Vulcan Studios, part of the Vulcan Forged ecosystem, supports the development of blockchain games. Several enhancements to Vulcan Studios now provide for an interconnected universe for gamers, a critical move in the platform's bid to become a more unified gaming ecosystem.

Vulcan Forged NFT marketplaces like Agora and Cedalion offer users a seamless experience in trading and creating digital assets. In particular, Agora provides a user-friendly interface for minting NFTs without gas fees that makes it accessible for creators and collectors alike.

Furthermore, the Vulcan Forged team has announced that VulcanX, its 

 (CEX), is almost complete. VulcanX will provide the platform's users with a gamified trading experience in which landholders In its ecosystem will share in generated revenue.

The entire Vulcan Forged ecosystem is governed by a dual-token economy consisting of PYR and ELY (previously LAVA) tokens.

 blockchain developed by Vulcan Forged that’s designed to power the future of web3 gaming, NFTs and 

 (DApps). Created with developers and users in mind, Elysium combines scalability, high throughput and a strong sustainability ethos to deliver a robust and eco-friendly blockchain ecosystem.

 (EVM) framework, Elysium supports fast, low-cost transactions, and is fully compatible with both Ethereum-based and Substrate-based tools. Its interoperability makes it an ideal platform for developers looking to deploy DApps, launch NFT collections or create gaming projects with dynamic on-chain mechanics.

A standout aspect of Elysium is its growing ecosystem of integrated tools, such as:

In addition to its robust technology, Elysium is central to the larger Vulcan Forged vision of a unified digital universe. It underpins diverse applications, including Vulcan’s NFT marketplaces, upcoming CEX and multi-game metaverse.

With an emphasis on accessibility, innovation and real-world use cases, Elysium is positioning itself as the core infrastructure for the mission Vulcan Forged has to merge gaming, blockchain and digital ownership into one immersive ecosystem.

In order to lower barriers to entry through enhanced user experience, Elysium offers three protocols that work together seamlessly to benefit web3 individuals and businesses. These protocols simplify the process of converting tokens, while offering fee delegation and allowing users to utilize any token in their wallets when transacting.

Vulcan Forged has created a comprehensive ecosystem to enhance web3 user experiences. Apart from the Elysium blockchain discussed above, other key components of the Vulcan Forged ecosystem are as follows.

Vulcan Studios is a gaming development platform designed to facilitate the creation, development and playing of PC and mobile games. In the revamped Vulcan Forged road map, these studios’ DeFi games are undergoing various enhancements to improve user experience.

Some of the notable games produced by Vulcan Studios include 

Vulcan Verse, Vulcan Runner, Berserk, Vulcan’s Creed

​MetaScapes is an innovative metaverse-as-a-service (MaaS) platform that empowers users to create and customize their own digital realms. Offering four distinct worlds — Fantasy, Cartoon, Urban and Futuristic — MetaScapes provides a versatile environment for creativity and exploration. Its users can personalize their avatars, design unique landscapes and even monetize their creations through in-world economies. 

With features like VR compatibility and AI assistance, MetaScapes aims to deliver an immersive and user-friendly experience, bridging the gap between imagination and digital reality.

The Vulcan Forged platform is powered by a dual token economy that consists of PYR and ELY tokens, each one playing a distinct role on the platform.

PYR is the primary token of Vulcan Forged. Initially, PYR was powered by the Ethereum and Polygon blockchains, but it’s now primarily powered by the Elysium blockchain. PYR plays three major roles on the platform: gaming, settlement and 

. It has a total supply of 50,000,000 tokens, with a circulating supply of 23,897,700 (as of May 15, 2025).

The primary use cases of the PYR token are as follows:

The second token on Vulcan Forged is ELY, which was formerly known as LAVA. ELY is Elysium's native and gas token. It also features many other uses, such as powering transactions and rewarding gameplay on Vulcan Forged games. You can earn ELY by participating in various games and accumulating XP points on the platform. Additionally, you can generate ELY tokens as rewards for holding PYR.

ELY’s total supply is 1 million tokens. Some uses of ELY include:

You can buy PYR on Bybit as the PYRUSDT Perpetual contract, with leverage of up to 12.5x. It's listed in Bybit's Innovation Zone, which gives you access to handpicked projects with a potential for high returns (also with higher fees and risk).

Vulcan Forged (PYR) crypto price prediction

As of May 15, 2025, PYR is priced at $1.34, 97.3% higher than its all-time high of $49.24 on Dec 1, 2021 and 51.8% higher than its all-time low of $0.88 on Apr 7, 2025.

Price prediction experts are cautiously bullish on PYR's future price. CoinCodex predicts that PYR 

 a maximum price of $1.49 in 2027 and increase to $4.43 in 2030. Meanwhile, DigitalCoinPrice is relatively more bullish on PYR, and expects that the token 

 a maximum price of $4.85 in 2027 and surge to $7.34 in 2030.

While these forecasts are bullish, they aren’t financial advice and they don’t guarantee the future price of PYR. We highly recommend that you 

 before you invest in Vulcan Forged or any other cryptocurrencies.

Vulcan Forged (PYR) is shaping the expanding universe of web3 gaming by merging cutting-edge technology with immersive player experiences. From its native Elysium blockchain to dynamic NFT ecosystems and the upcoming VulcanX decentralized exchange, the platform is setting new standards in decentralization, creativity and scalability.

Featuring a unified road map, tools like MetaScapes, NFT marketplaces, and Elysium Swap, Bridge and Scan, Vulcan Forged is building more than games — it’s forging a sustainable digital economy. As its ecosystem grows, PYR, its cross-platform utility token, remains at the heart of this transformation, empowering game developers, creators and players in the next era of decentralized entertainment. 

Intermediate

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Vulcan Forged (PYR): The expanding universe of web3 gaming and beyond

Discover MapleStory Universe, Nexon's blockchain-powered version of the iconic MMORPG game loved by over 250 million players. Learn more about the launch of MapleStory N on May 15, the NXPC token and how to trade NXPC on Bybit.

, a simple, 2D MMORPG that quickly became a cultural phenomenon. Its blocky characters and iconic town of Henesys were etched in the memories of over 250 million players who played the game worldwide. Now, Nexspace, an Abu Dhabi–based subsidiary of Nexon, is recreating this world on-chain with MapleStory Universe. 

At its core, MSU is a faithful recreation of 

s legacy. It revives the beloved characters, art styles and lore while simultaneously improving the game by integrating blockchain technology. Nexpace believes this integration will transform the franchise from a centralized ecosystem into a player-owned universe, creating a win-win scenario for both the original players and web3 natives. 

 IP is already an established success, with 250 million players and over $5 billion in revenue. MapleStory Universe aims to bring its enormous player base into MSU through various incentives, such as cross-platform progression and exclusive rewards for legacy users. 

Behind all of this development is Nexpace, the blockchain-focused subsidiary of Nexon established in 2023. Sun Young Hwang is the CEO of Nexpace and a leader at MapleStory Universe. With 15 years of experience at Nexon, Hwang brings a wealth of expertise and a clear vision for the ecosystem’s growth in the web3 space. 

As part of its mission to launch a gaming universe, Nexpace teams announced 

, the first standalone game of the MapleStory Universe. It’s a PC-based MMORPG with onchain item ownership. The game is set for a global launch on May 15, 2025, and is currently available for 

. According to BlockchainGamer.biz, the game was so popular that it 

 players can issue, trade and manage in-game 

. Post-launch, the community can collaborate on content development, influencing the game’s evolution through creator tools. 

, a blockchain tailored for gamers. Built on 

, it combines Nexon’s 20-plus years of anti-cheat expertise with 

’s tamperproof randomness (critical for fair loot boxes). Transactions are free, fast and invisible during gameplay. No crypto wallets are required upfront. For 

 veterans, this offers a smooth gateway into web3, and for crypto natives, it brings a beloved gaming franchise on-chain.

Blockchain's role in the MapleStory Universe

The Henesys blockchain plays a crucial role in MSU’s development and execution. It provides sub-second finality and support for thousands of 

 (TPS), ensuring gameplay remains fluid and uninterrupted.

On top of that, the use of blockchain also enables players to own and trade in-game assets as NFTs. These NFTs are designed to be interoperable across every game that’s built in the MapleStory Universe, providing increased utility and value for these digital assets.

The game’s economy also relies on the decentralized nature of blockchains to create an ever-changing world. It incentivizes creators to design unique planets, each with its own tailored gameplay and social experiences, and rewards them with NXPC tokens for their contributions. 

NXPC is the native utility token of MapleStory Universe, with a fixed supply of 1 billion. It functions as the reserve currency of the universe, and is used to link gameplay assets to the border ecosystem. 

The token’s initial distribution also reinforces its decentralized nature, as 80% of NXPC is reserved for contributor reward, with just 0.696% allocated for the team and 0.4% for advisors,

Additionally, the team and advisors allocations also have vesting requirements. The team token has a structured vesting schedule with a 9-month cliff, followed by quarterly unlocks over the next three years. For advisors, there’s a 12-month cliff, followed by milestone-based vesting. 

MSU’s franchise has generated $5 billion in revenue since 2003. The organization behind the game is focused on longevity, as opposed to a quick money grab. Crucially, blockchain technology has matured to an extent where it can deliver seamless gameplay, matching the smooth experience players expect from traditional platforms. 

 starting on May 15, 2025. From now through May 28, 10AM UTC, new and existing Bybit users can stand a chance to win from a prize pool of 9,000,000 NXPC by 

. Register for this event at Bybit Token Splash 

Beginner

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Nexpace (NXPC): MapleStory IP goes web3

The Ethereum Foundation has launched the Trillion Dollar Security Initiative, aiming to elevate Ethereum’s security beyond the crypto ecosystem to rival global legacy systems. 

The S&P 500 edged up 0.1%, lifted by tech gains from Nvidia and AMD, despite broader sector losses. Gold dropped below $3,200 as easing US-China trade tensions and rising Treasury yields reduced safe-haven demand, despite softer inflation data. Traders await US PPI and retail sales for further cues. The Coindesk Indices, which tracks the broader crypto market, down 1.64%, with Bitcoin and Ether down 1.47% and 3.35%, in the past 24 hours. Trade these markets and more with up to 500x leverage on Bybit MT5 using this 

Today's top performer is ATH, which rose 15.2% after Aethir boosted conversions with its instant play decentralized cloud gaming solution.

Aethir (ATH), founded in 2021, is a decentralized GPU cloud platform that provides scalable computing power for Web3 applications like gaming, AI, and design, enabling businesses to run high-performance tasks without centralized infrastructure. 

 boosts gaming user acquisition by enabling instant play without downloads, reducing costs and improving conversion. In a case study with SuperScale, games using Aethir’s tech saw a 45% higher conversion rate, 93% higher ARPU, and 43% more users preferring instant play over downloads. By bypassing app store fees and offering seamless gameplay access, Aethir provides studios with a cost-effective, high-conversion alternative to traditional mobile gaming funnels.

Check out the latest prices, charts, and data of 

The Ethereum Foundation has launched the 

, aiming to elevate Ethereum’s security beyond the crypto ecosystem to rival global legacy systems. The initiative will (1) map Ethereum’s security landscape, (2) execute key improvements across its stack—from wallet UX to consensus, and (3) improve communication around Ethereum's security standards. Led by EF’s Fredrik Svantes and Josh Stark, with support from security experts samczsun, Mehdi Zerouali, and Zach Obront, the initiative seeks broad ecosystem input to achieve a world where trillions in value can be securely held onchain.

Yesterday, BTC spot ETFs saw $86.6 million in net inflows, all from non-GBTC funds, while GBTC recorded no flow.

, rewarding whitelisted participants with 100 xpSPON for completing simple tasks like following on X and joining Discord. xpSPON will directly impact your future SPON airdrop allocation — the more you earn, the greater your rewards.

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Ethereum Foundation launches initiative to bring trillion-dollar security onchain

Diversification reduce reliance on any single market, ensuring stability during downturns. Here are the top 5 ways to diversify your portfolio.

Imagine watching the market crash while your portfolio stays steady — not because you predicted the dip, but because you built a strong defense against it. 

 is a time-tested financial safeguard in unpredictable markets. By balancing various assets, such as crypto, commodities, 

 and international stocks, investors can weather 

 and seize opportunities. So, how do you diversify effectively without overcomplicating things? This article explores the top expert strategies, and some common pitfalls to avoid.

 strategy that spreads investments across different asset classes, sectors or countries to reduce exposure to any single asset or risk. This approach aims to stabilize returns by cushioning the impact of market volatility on your overall portfolio.

Why is portfolio diversification important?

The age-old advice not to “put all your eggs in one basket” holds true when it comes to investing, and it’s a simple but powerful way to protect your wealth. Diversification helps safeguard your capital by spreading your investments across different assets so that when one underperforms, others may help offset the loss. This strategy is especially important for people nearing retirement, or for anyone who values financial stability.

By investing across various asset classes — such as stocks, bonds and real estate, as well as different industries and geographic regions — you build a portfolio that’s more resilient to economic ups and downs. But beyond just reducing risk, diversification often leads to better risk-adjusted returns and less day-to-day volatility, for an investment experience that’s less stressful overall. Moreover, because not all investments will dip at the same time, investors don’t continually have to monitor everything in their portfolios.

Diversification can also help guard against inflation, thanks to assets that tend to perform well when prices rise. At the same time, it opens the door to opportunities in growing markets, all while keeping your investment approach balanced and aligned with your long-term financial goals.

Top 5 tips for diversifying your portfolio

Here are five smart ways to diversify your investments and protect your future returns.

Tip 1: Spread investments across asset classes

Spreading your investments across different asset classes, such as stocks, bonds, real estate, cryptocurrencies and commodities, helps ensure your portfolio isn’t overly exposed to the risks of any single market segment. This makes your investments more resilient. Different assets often react differently to market conditions, so when one asset underperforms, others may perform better, balancing your overall returns (as well as your risks).

Assuming you invest solely in stocks, and the stock market declines, your entire portfolio may suffer. However, if you also hold bonds, which often perform well when stocks decline, any blow to your portfolio can be softened.​

Don’t just buy one type of stock or bond. Within each asset class, invest in a mix of sectors (such as technology, healthcare and energy), company sizes (large-cap, mid-cap and small-cap) and styles (growth, value and dividend). This approach further reduces the risk that poor performance in one area or industry will drag down your entire portfolio.

If you invest heavily in the technology sector and it experiences a downturn, your portfolio could suffer accordingly. Diversifying into other sectors like healthcare or consumer goods can help balance your investments’ performance.​

Tip 3: Low-cost index funds and ETFs for instant diversification

 (ETFs) offer a ready-made way to achieve diversification. They provide exposure to a broad range of assets or sectors, often at a lower cost than actively managed funds. This approach simplifies diversification, and can be more accessible for individual investors, especially beginners. It's an efficient way to diversify quickly and easily, as each fund typically holds dozens or even hundreds of underlying securities.

For instance, investing in an S&P 500 index fund gives you exposure to 500 large US companies, providing instant diversification across various industries.​

​Expanding your portfolio to include international assets can enhance diversification and provide exposure to growth opportunities beyond your home country. Investing globally can help mitigate risks associated with domestic economic downturns, as different regions may experience varying economic cycles.​

 their US counterparts in the first quarter of 2025. This outperformance was attributed to strong corporate earnings, increased defense and infrastructure spending in Europe, and the absence of direct US tariffs targeting European goods. Despite initial skepticism, European stocks rose by 10–12%, even as US markets declined somewhat, thus helping to stabilize global portfolio returns for investors with international diversification

However, investors must be mindful of currency exchange risks. Fluctuations in exchange rates can impact the value of international investments. For instance, if you invest in a European company and the euro depreciates against the US dollar, the value of your investment in dollar terms may decrease even if the company's performance remains strong.

Diversification isn’t a one-time task. Over time, some investments may grow faster than others, skewing your original allocation. Regularly reviewing and rebalancing your portfolio ensures it stays aligned with your 

 and investment goals, maintaining the benefits of diversification while improving long-term performance.

Let’s say your target allocation is 60% stocks and 40% bonds, but stocks perform well and grow to 70% of your portfolio. In this case, rebalancing would involve selling some stocks and buying bonds to return to your original allocation.​

Common portfolio diversification mistakes to avoid

Avoiding these common diversification mistakes can help you build a stronger, more resilient portfolio:

How to diversify your portfolio with Bybit

Bybit is a leading crypto exchange that offers a wide range of products designed to help you diversify across cryptocurrencies, traditional assets and innovative financial instruments. Following are some of the many products and services that Bybit offers.

Portfolio diversification is a key strategy for reducing risk by spreading investments across different asset classes, sectors and regions. Achieving this goal, however, requires a balanced and disciplined approach to ensure resilience and long-term growth. Bybit helps simplify this process with powerful tools like MT5 trading, Copy Trading and Structured Products. These tools allow investors to diversify their portfolios more effectively, providing access to diverse markets and strategies while also minimizing risk. 

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Top 5 tips to diversify your portfolio

Trading

Strategies

Some of the 10 best crypto day trading strategies include: high-frequency trading, long straddle, and scalping. Read on to find out more about them. 

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Day trading cryptocurrencies can be an exhilarating activity for traders. However, it’s also one of the more difficult time frames to trade. Cryptocurrencies tend to exhibit higher intraday volatility than in many other financial markets, thereby requiring a greater level of skill to trade short time frames successfully. 

As we navigate this dynamic landscape, we want to equip ourselves with the most effective strategies to maximize our gains and minimize risk. In this article, we’ll delve into the realm of crypto day trading and present a list of the top 10 strategies to consider. Whether you’re a seasoned trader or just beginning your trading journey, get ready to explore the fast-paced arena of crypto day trading.

Crypto day trading is defined by a trader’s expectation of entering and exiting a trade within the same day (also referred to as intraday, or one-day time horizon). Therefore, being able to interact with intraday price dynamics is critical. How a trader engages the market during the time horizon will depend on the strategy deployed.

Nevertheless, in general, traders will be looking for smaller price movements based on intraday market behavior. By trading intraday, traders can use tighter risk parameters than for longer time frames and adjust their allocation size accordingly, since the average size of a trade is larger than that used for a longer time horizon, given the smaller expected movement. In addition, there are no overnight holds in day trading, so that risk is eliminated.

 (HFT) is driven by automated mathematical algorithms that execute orders in fractions of a second based on pre-set criteria. These algorithms manage a high volume of orders, aiming to capitalize on minute price movements over extremely short time frames (often mere seconds or fractions of a second). The lightning-fast speed of HFT necessitates the use of trading bots. By handling substantial order sizes, HF traders contribute to the liquidity of the cryptocurrency market. The primary objective of a high-frequency trader is to optimize speed and minimize transaction costs, prioritizing efficient execution and cost-effective transactions.

 is a day trading options strategy that looks to profit from market volatility. It involves buying both a put and call contract for the same cryptocurrency, with the same strike price and expiration date. This strategy may also be referred to as a straddle or option straddle. In a long straddle, it’s expected that while one side of the trade may result in losses, the profit gained from the winning position will outweigh those losses, leading to an overall net gain.

Scalpers capitalize on short and rapid price movements, often utilizing automated bots to increase trade frequency in order to profit from tiny price fluctuations through resale. Compared to longer time frames, 

 involves higher frequency, larger trading volumes and bigger positions, as the targeted price changes are relatively smaller. Consequently, it’s essential to consider trading costs, as they can consume a significant portion of the trader’s revenue.

Scalping can be risky, as reliable patterns become more difficult to identify and exploit within a shorter time frame. Therefore, scalpers need to adhere to a strict exit strategy, ensuring that a single substantial loss does not negate the multiple small gains achieved.

Scalping can be approached in two ways. The first approach involves executing many trades at high volume to capitalize on concise and fast price movements. The second approach adopts a slower trading process, relative to high-frequency scalping, and focuses on slightly larger but still relatively small price movements, a lower number of trades, smaller position sizing and slightly longer holding periods.

Cryptocurrency markets are constantly oscillating between trending and consolidation environments. 

 involves leveraging consolidation periods to profit from a predefined price range. The range is defined by key levels of support and resistance, often represented by classic consolidation patterns such as 

 traders aim to capitalize on short-term price discrepancies between different cryptocurrency exchanges. They look to buy crypto on one exchange and swiftly sell it on another at a higher price. Alternatively, for shorts, they‘ll sell on one exchange and buy on another to close the position. Speed is crucial in crypto arbitrage trading, so automated tools are frequently used to swiftly seize arbitrage opportunities across exchanges. To fully optimize returns, keeping trading costs low is vital given the large volume of transactions.

 primarily uses chart patterns for trading strategies and risk management protocols. It operates on three principles: 

1) The market discounts everything. 2) Prices move in trends and countertrends. 3) History repeats itself.

The idea is that price action is repetitive, with certain recurring patterns that can then be used as a tool to navigate markets.

There are many ways to deploy a strategy based on technical analysis, including the use of technical indicators or studies, which are usually based on price and/or volume. The key lies in identifying specific price patterns that can give a trader an edge. There are two fundamental approaches to using technical analysis: trend following and countertrend trading.

Trend-following traders look to capture a prevailing trend as much as possible. The type of trend they focus on depends on their primary time horizon, which can be short, intermediate or long-term. Trends can be traded on any time frame chart, and traders frequently rely on trend indicators such as 

Price movements occur in trends, consisting of price advances in one direction (up or down) followed by retracements or countertrend moves. Countertrend traders seek to capitalize on these corrections within larger trends. This is considered a somewhat riskier strategy than trend trading, and requires greater skill. By trading against the larger trend, countertrend traders take on more risk, as they’re going against the dominant force (up or down) at the time.

 is crucial. It drives the rise and fall of markets based on changes in the confidence of market participants. Market sentiment represents the collective attitude of investors and traders toward a specific financial asset, or the overall market. By analyzing market sentiment, traders can identify changes in attitudes and confidence that can influence changes in supply and demand, and, consequently, prices. Some elements of market sentiment analysis include the Fear & Greed Index, Bitcoin dominance ratio, news, social media and Google Trends.

 acts like an emotional meter, measuring market sentiment on a scale from fear to greed, and everything in between. Traders closely monitor it for extreme readings in order to predict price movements. Excessive fear can lead to buying opportunities, as the sentiment may be on the verge of reversing. On the other hand, extreme greed indicates an overly bullish sentiment that may be due for a correction. 

The index uses a variety of inputs, including coin dominance, momentum and volume, social media, Google Trends and measuring volatility.

 (market value) of Bitcoin to the total market cap of the entire cryptocurrency market. This ratio wields an influence over the overall market, as many smaller capitalization coins follow Bitcoin’s trend or have some connection to it. A declining ratio suggests that altcoins are doing better relative to Bitcoin.

Monitoring news that might impact cryptocurrencies is another way to assess sentiment by looking at the ideas and points of view expressed. This can give traders a feel for attitudes in the market, and can be used as a complement to other analyses. Keeping track of news feeds in an 

) can expedite the review process. There are also subscription-based, event-driven news services that use sophisticated computer algorithms to identify news activity that might move a crypto token.

Observing social channels can provide insight into market sentiment. One way to do this is to use monitoring software, such as TweetDeck for Twitter. You can categorize and organize feeds to keep track of activity by sources you’ve deemed to be credible. This can help reduce the “noise” so that you mostly see posts and comments from your selected sources.

Social media sentiment indicators aggregate data from various social media sites, and then they analyze it to identify trends or increased activity related to a specific cryptocurrency, industry, region(s) or countries. 

Google Trends can be used to see how crypto-related topics or tokens are trending in Google Search. Analyzing whether certain searches — such as “bullish on Bitcoin” — are trending higher or lower may provide useful insight into the expectations and outlook for Bitcoin.

While long-term position trading may not be the main focus for all active day traders, it can still play a role in their approach. To execute this strategy, the larger time frame is analyzed by including monthly and quarterly price charts. If a trade setup triggers on a monthly chart, it’s expected to be held for a longer period of time than with many other strategies. The longer time horizon is necessary in order to exploit the potential price movement and fully maximize gains.

Breakout traders look to enter a trade when the price breaks out from a particular level, aiming to capitalize on the rapid acceleration in the direction of that movement. Breakouts can occur in either an upward or downward direction (breakdowns). The setups may include breakouts of trend reversal, or continuation patterns; price breaking out through a moving average; or prices establishing a new high or low trend.

A pullback strategy incorporates trend and pattern identification in its analysis. The objective is to enter a trend just as it’s about to resume its primary direction. This strategy can be used in both uptrends and downtrends. It relies on proficient analysis of key support levels and a technique to determine when the pullback is complete, signaling a potential reversal setup.

Three Tips to Successful Crypto Day Trading

This depends on the individual trader, though in general, trading over a shorter time frame is considered more complex than over a longer time frame. Therefore, day trading is more involved than holding assets for more than a day.

There is no universally superior day-trading strategy, as each trader is unique and needs to select a strategy that aligns with their understanding and comfort level. Some of the strategies more widely used by independent traders include technical analysis, scalping and range trading.

This depends on various factors, such as a trader’s experience level, skill and account size. Generally, it’s advisable to start trading in a lower-risk environment by choosing larger-cap coins with relatively high levels of volume. A good starting point to consider is the list of top 30 cryptocurrencies (based on market cap). You can then further narrow it down to your preferred choices from this list. If you seek more intraday volatility, then expand the list to include the next 30 cryptos by market cap.

10 Best Crypto Day Trading Strategies in 2023

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