Weekly Updates: Crypto indicators, DeFi series, and platform updates

Daniel UpBots

Published in

Upbots

4 min readFeb 5, 2021

Aloha UpBots community! We’ve got another weekly wrap-up surfing in your way.

This week saw us publish a new article aimed to help you all better understand technical analysis concepts. Knowing how to read crypto indicators is important, whether you’re trading with algo bots or not. The first topic in this technical analysis series introduces you to moving averages.

With the DeFi scene continuing to gain steam we wanted to start producing content that will help you better grasp what and how this emerging tech operates. The first article in this series of ours will get you started with decentralized exchanges and conducting your first token swap!

We also have a fresh round of platform updates which includes the nearing completion of our UBXT wallet, manual trades, and much more.

Crypto indicators: Moving averages — RSI

What exactly are moving averages? Well simply put, moving averages are a method of predicting the future price of a crypto coin by its past performance. Traders typically assess the performance within multiple time-frames in order to better predict an upcoming market trend.

There are several moving averages that traders can use. Becoming familiar with them can help you make more informed decisions before putting your money down.

Read our full article on moving averages on our blog.

How to start trading on decentralized exchanges

The DeFi craze is not slowing down anytime soon. With big names like Mark Cuban coming out in support of the decentralized technology, you can only expect it to explode in popularity within the coming years.

In order to provide a plethora of information at your disposal on DeFi topics, we’ve launched a new series all on decentralized finance. Our first installment in this series takes you through the basics of DeFi, explains what decentralized exchanges (DEXs) are, and provides a step-by-step tutorial on token swapping.

Begin your DeFi education right now on our blog.

Platform updates

Portfolio monitoring for ETH wallets (Covalent integration)

The portfolio monitoring feature for ETH wallets has moved into the final design stage. Currently, our front end devs are creating the data visualization windows that will provide users with full views of the evolution for all wallet assets.

Once the integration is finished users will be able to connect their MetaMask wallet (more support for other ETH wallets to come) and view real-time data of staking positions, liquidity pool participation, and other DeFi data. Stay tuned for more info leading to the full launch.

FTX trading for algo bots

Currently, our algo trading bots only have the capability of trading on the Binance Spot exchange. Our devs are working to add FTX to the selection of exchanges the bots can trade on.

The front-end design is nearing completion and if no bugs are found then it will be set to release. With FTX being a hot up-and-coming exchange it certainly is super exciting to open up the exchange to bot trading for our community.

UBXT wallets: stage 1

UBXT wallets are finishing up development and should be live very soon! The initial functionalities for the wallets will include storing, managing, sending, and receiving UBXT tokens. There will be more features added to the wallet down the road, including the start of our platform perf fees.

Our perf fees allow algo devs to earn a passive revenue and will contribute to our token burning program. The burning program aims to reduce our token supply and drive up the demand for the UBXT token, which is great for holders since it will increase the value of their UBXT.

Announcements for the initial wallet release, perf fees, and additional features are still to come.

Manual trading progression

Manual trading is also nearing completion and is entering its final test. Recently the team made some technical improvements to boost efficiency when submitting trading orders for a crypto pair.

The release for this feature should be right around the corner once the green light is given.