UpBots Academy – Know your coins: NULS
Last week, we discussed the DUSK project together. This week, we will discover together another interesting project, NULS.
What is NULS?
Nuls is a decentralized blockchain platform. Fully open-source and focused on facilitating smart contracts. NULS was founded in 2017 by Lily Wang and Lin Yang. Nuls’ platform is known for allowing developers to develop their own modules on Nuls’ chain, The chain that the modules are created on is also known as the NULS Chain factory. Each module has its own function within the Nuls network. These modules are able to run with private blockchains and can be adapted to different industrial purposes. The Nuls project is managed by the Singaporean company NULS Foundation Pte. Ltd.
The Nuls platform is divided into two parts: the microkernel and the functional modules. The microkernel serves as the foundation for the entire network, while the functional modules provide an adaptable modular infrastructure. Nuls aims to fill the gap between public and private blockchains by enabling users to create and customize pluggable subchains according to their needs.
Technical point of view
From a technical point of view, NULS is in a support zone between 0.15 and 0.18 after a fall of more than 90% since the beginning of the year 2022. Like the rest of the market, NULS is under heavy selling pressure.NULS has not yet reached its lowest point, which is around $0.09, which would still represent a 50% drop at the current price. Is this impossible, not at all and we need to be ready. The daily technical situation remains positive with the MACD and WaveTrend pointing up. On a 4-hour time frame, the indicators are also rising.
What should we do?
For the time being it is too dangerous to open any kind of long position until the price is back above $0.30.
How to profit on the Upbots platform?
We have only one bot trading NULS on our platform that allows you to trade the long-only side.
It’s pretty good, right? Come and try it for yourself!
And here is another new coin that no longer holds any secrets for you! This one was a different project in comparison with all the others we covered in this series.
See you next week!