EigenLayer Introduces New Restaking Options for Bitcoin and Ethereum Holders

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: Nov 05 2024

ARPA-1.889%

ETH+0.4%

EIGEN-5.479%

Should l Buy ARPA?

New Restaking Options: EigenLayer has launched new restaking options for Bitcoin and Ethereum holders, allowing them to earn higher returns through wrapped Bitcoin and receive payments via its leading validator, P2P.org.
Earning and Security Enhancements: The platform's ARPA Network supports uniBTC, enabling Bitcoin holders to earn rewards while enhancing liquidity, and it also provides secure random number generation for various applications, contributing to the expansion of EigenLayer's use cases in the Web3 ecosystem.

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Technical Analysis for ARPA

Technical Sentiment Analysis for ARPA (ARPA) As of , ARPA (ARPA) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 1 indicators are flashing buy, while 3 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for ARPA stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.

Support, Resistance & Moving Averages From a structural perspective, ARPA is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

ARPA (ARPA) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	0.00219	0.00529	0.00807	0.0112	0.0139	0.0171	0.0198
Fibonacci	0.00529	0.00754	0.00893	0.0112	0.0134	0.0148	0.0171

About ARPA

ARPA Network (ARPA) is a decentralized secure computation network built to improve the fairness, security, and privacy of blockchains. ARPA threshold BLS signature network serves as the infrastructure of verifiable Random Number Generator (RNG), secure wallet, cross-chain bridge and decentralized custody across multiple blockchains.ARPA was previously known as ARPA Chain, a privacy-preserving Multi-party Computation (MPC) network founded in 2018. ARPA Mainnet has completed over 224,000 computation tasks in the past years. Our experience in MPC and other cryptography laid the foundation for our innovative threshold BLS signature schemes (TSS-BLS) system design and led us to today’s ARPA Network.Randcast, a verifiable Random Number Generator (RNG), is the first application that leverages ARPA as infrastructure. Randcast offers a cryptographically generated random source with superior security and low cost compared to other solutions. Metaverse, game, lottery, NFT minting and whitelisting, key generation, and blockchain validator task distribution can benefit from Randcast’s tamper-proof randomness.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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