Space ID (ID) has been on a steady uptrend, catching the attention of traders looking for the next big move. Currently priced around $0.4113, it appears to be taking a breather after a strong rally. Is this just a pause before the next surge, or are we about to see a pullback? Let’s break it down!
Technical Overview: Slowing Momentum or Prepping for Another Boost?
Analyzing the 1-hour chart, we can see that Space ID experienced a significant price spike, shooting above $0.4200 before correcting slightly. Now trading at $0.4113, we’re witnessing signs of consolidation, but the MACD and moving averages hint that a new move could be brewing soon.
Key Indicators Breakdown:
1. Moving Averages (MA):
- The 7-period moving average is at $0.4135, acting as immediate resistance. For short-term traders, this is a critical level to watch. A break above could signal more upside momentum.
- The 25-period MA is at $0.4187, aligning with a recent high. This serves as the next major resistance level, which if surpassed, could lead Space ID to retest the $0.4200 mark.
- The 99-period MA, at $0.3886, represents long-term support. If the price dips toward this level, it could present an attractive buying opportunity for both short-term and long-term traders.
2. MACD (Moving Average Convergence Divergence):
- The MACD indicator is currently bullish, with the MACD line above the signal line. However, the histogram is shrinking, signaling that momentum might be weakening. This calls for caution, especially if the MACD line crosses below the signal line, as it could indicate a short-term pullback.
- Traders should keep an eye on the next few candles to see if the bullish trend can resume or if this momentum loss is pointing toward further downside.
3. Volume:
- The volume spiked during the recent rally, but it has tapered off since. This suggests that while buying pressure was strong, the enthusiasm may be fading. If volume doesn’t pick up again, we could see more consolidation or even a move lower.

Support and Resistance Levels to Watch 🎯
- Support: Immediate support lies at $0.4135 (7-period MA), with stronger support at $0.3886 (99-period MA). If the price falls below these levels, it could open the door to further downside.
- Resistance: On the upside, we’re looking at $0.4187 as the next major resistance level. A break above this could push Space ID toward $0.4200 and possibly beyond, targeting $0.4250.
What’s Driving Space ID’s Price? 🚀
Space ID has been gaining traction in the decentralized identity space, which could explain the recent price movements. As blockchain technology continues to disrupt traditional industries, projects like Space ID are becoming more relevant. Decentralized identity solutions are particularly appealing to privacy-focused users and institutions, offering a growing use case for tokens like ID.
Moreover, speculative trading seems to be influencing the current rally, with traders capitalizing on short-term price movements. This means that while fundamentals are solid, volatility could remain high, especially if broader market sentiment shifts.
What Should Traders Do Next?
For Short-Term Traders:
- Watch for Breakout Above $0.4187: If Space ID breaks above this level with strong volume, it could signal the start of a new rally, with potential targets around $0.4250 or even $0.4300.
- Be Cautious of a MACD Crossover: If the MACD turns bearish, a short-term pullback could occur, offering better entry points for those looking to go long.
For Long-Term Investors:
- Accumulate on Dips: Investors who believe in the long-term potential of Space ID should consider accumulating around the $0.3886 level, where strong support lies. As decentralized identity gains more adoption, Space ID could be well-positioned for future growth.
- Hold Through Volatility: With ongoing developments and the token’s relevance in the privacy and identity space, long-term holders may benefit from staying the course through short-term price fluctuations.
Conclusion: Is Space ID Primed for Another Breakout?
Space ID is currently in a consolidation phase, and traders are eyeing the key levels of $0.4135 and $0.4187 for signs of the next move. While momentum indicators suggest caution in the short term, a breakout could push the price toward new highs. For now, both short-term traders and long-term investors should watch these levels closely to time their entries and exits.
What’s your take on Space ID’s next move? Are we about to see a breakout or a pullback? Let me know your thoughts in the comments below! Don’t forget to subscribe for more market insights. 💡
#SpaceID #CryptoTrading #DecentralizedIdentity #Binance #Altcoins

On March 22, 2023, Space ID (ID), the 30th project to be launched by #Binance Launchpad, will go live. User BNB balances will be recorded for five days commencing on March 17th, 2023, and ending on March 22nd, 2023, in accordance with the usual Launchpad subscription structure.

The ultimate BNB holding amount for each user will be calculated as the average of the five days using the Daily Average BNB Balance computation. During this five-day period, user BNB balances will be calculated in hourly snapshots.

With a hard cap of 15,000 USD (600,000 ID) per user, the launchpad hard cap for Space ID is set at 2,500,000 USD. There are 2,000,000,000 #SpaceID tokens in circulation, of which 100,000,000 (or 5% of the total) are reserved for Binance Launchpad.

1 ID = 0.025 USD is the public auction token price for Space ID, with the price in BNB being established before subscription. Users must commit their BNB during the three-hour subscription period on March 22, 2023, as only BNB supports the subscription format.

Once committed, the #BNB tokens will be frozen, preventing users from redeeming them or using any other features like transfers, withdrawals, or trading until the tokens are distributed in full. On March 22, 2023, the final token distribution will be determined, and the associated BNB will be subtracted from the user's already-locked BNB balance. The ID and BNB tokens will be transferred to the user's spot wallet after deduction.

Overall, Space ID (ID) is an exciting project with a decent hard cap and a constrained token supply. Investors can take advantage of this chance to invest in the project and possibly see a healthy return on their money.

Binance has announced that SpaceID (ID) will be the 30th project to launch on its Launchpad platform. The token sale for SpaceID will follow the Launchpad subscription format, wherein Binance will record user BNB balances for a period of five days, starting from March 17th, 2023, until March 22nd, 2023.

Get Ready to Join the Space Race: A Step-by-Step Guide to Participating in the SpaceID (ID) Token Sale on Binance Launchpad!:-

To participate in the SpaceID token sale on Binance Launchpad, users must hold BNB in their Binance account for a five-day period from March 17th, 2023, to March 22nd, 2023. Hourly snapshots will be taken of each participant's BNB balances for each day, and the final BNB amount for each user will be calculated based on the five-day average.

The total supply for Space ID is 2,000,000,000 ID tokens, with a hard cap of $2,500,000 USD for the Binance Launchpad. The hard cap per participant is set at $15,000 (or 600,000 ID), and the total number of ID tokens allocated to Binance Launchpad is 100,000,000 ID, which represents just 5% of the total supply of Space ID tokens. Space ID's public sale token price is set at 0.025 USD per ID token, and the final pegging price in BNB will be determined before the start of the subscription.

The subscription period for Space ID will be open from March 22nd, 2023, at 6:00 (UTC) to 9:00 (UTC) and will only be open for three hours. Eligible participants will be required to sign the Token Purchase Agreement and commit their BNB within the allotted timeframe.

Once committed, the user's BNB will be locked, and during this period, users will not be able to access any other functions, such as transfers, withdrawals, or trading with the allocated BNB tokens until the final ID token distribution.

On the day of launch, before trading begins, both the ID and BNB tokens will be transferred to the user's spot wallet.

Introducing SpaceID: The Revolutionary Universal Name Service Network:-

SpaceID is a multi-chain blockchain naming service that allows users to register .arb, .bnb, and .eth domains. The platform provides a comprehensive web 3.0 identity solution for discovering, registering, trading, and managing web 3.0 domains in one convenient location. With the increasing number of web 3.0 users, decentralized identities have become an increasingly crucial aspect of web 3.0 existence. Furthermore, SpaceID offers a Web3 Name SDK & API that developers can use across different blockchains. SpaceID aims to consolidate all of these aspects under one roof. To date, SpaceID has assisted in the booking of 621,652 .ETH, 264,070 .BNB, and 72,586 .ARB domains.

Investors backing Space ID, the multichain blockchain naming service:-

SPACE ID has successfully raised a total of $10 million in funding through two rounds, with the most recent being a Series A round that closed on February 7, 2023. The company has garnered investment from four prominent investors, including Foresight Ventures, Polychain, and dao5, who participated in the Series A round. Notably, Binance Labs was one of the investors during the Seed round, demonstrating the widespread interest in SPACE ID and its potential for growth in the blockchain naming service industry.

Major Milestones Achieved by Space ID Team:-

Space ID has accomplished several noteworthy milestones in the past year. Firstly, they successfully launched their .bnb Name Service and integrated it with over 100 leading DApps and wallets. They also introduced new features, such as SID Gift Cards and Domain NFT skin, and launched the Voyage Series. Moreover, they launched the SID Domain Names Referral Program, which incentivizes users who refer new users to their platform. In Q1 2023, they integrated their .bnb Domain Name Service with BscScan and launched SPACE ID 2.0, which is an all-in-one digital identity solution. Lastly, they formed a partnership with Arb ID and rebranded it as SPACE ID .arb Name Service.

What Are the Future Plans and Roadmap of Space ID?

Certainly, here's a revised version:

SPACE ID has laid out its future roadmap, with several exciting developments planned for the upcoming quarters. In Q2 2023, the company aims to launch the SID Launchpad, which will empower communities to develop and launch customized top-level domains. Additionally, SPACE ID plans to create infrastructure that will enable multichain support for these domains. The company will also officially introduce the SPACE ID DAO, providing a framework for decentralized decision-making and governance.

In Q3 2023, SPACE ID plans to implement ID as a payment token, allowing users to conduct transactions using their digital identities within the SPACE ID ecosystem. They will also launch a domain NFT-gated merch store, offering exclusive personalized merchandise to SPACE ID domain holders. Finally, the developer grant program will provide incentives for developers to enhance and expand the ecosystem.

In Q4 2023, SPACE ID will launch ID token staking, allowing users to stake their tokens for domain name discounts and trading fee discounts. Additionally, they will introduce colon domains, which can represent all identities and multi-chain addresses. These developments showcase SPACE ID's commitment to enhancing and expanding its ecosystem, creating novel opportunities for users and developers alike.

Exploring the Space ID Tokenomics: Distribution, Utility, and Governance:-

SpaceID is an ERC-20 and BEP-20 token that will have a total token supply of 2,000,000,000 ID, allocated across several categories. The Seed Sale and Strategic Sale allocations are 20% and 8%, respectively. The Binance Launchpad Sale Allocation is 5% of the total token supply, with a sale price of 0.025 USD per ID, aiming to raise 2,500,000 USD.

Upon listing on Binance, the initial circulation supply of SpaceID will be 286,000,000 ID (14.30% of the total token supply). The Core Team will hold 15% of the total token supply, while Advisors and Marketing will hold 7% and 13%, respectively. The Foundation and Ecosystem allocations are both 12%, and 10% will be allocated for Community Airdrop. These token allocations demonstrate SpaceID's commitment to a well-balanced distribution of tokens among different stakeholders, including the community, team, and advisors.

Note:- The snapshot was taken on March 1, 2023, and only users who held Binance Coin (BNB) in their wallets at that time are eligible for the airdrop.

Token sales data:-

Token Sales Data

 Token allocation:-

Token Allocation

ID Token Allocation:-

ID Token Allocation

ID token release schedule:-

ID token release schedule

Roadmap & Updates:-

Completed Milestones

Completed Milestones

Current Roadmap

Current Roadmap

 Commercial and Business Development Progress

 Commercial and Business Development Progress

Is it Advisable to Participate in the ID Token Sale on Binance Launchpad?

Participating in the ID token sale on Binance Launchpad is likely to be a profitable investment with potentially significant returns. However, those who are ineligible for the ID tokensale and plan to purchase tokens on the first day should exercise caution. The token airdrop may result in initial dumping of tokens, potentially leading to a market correction.

As a recommended strategy for ID tokens, it may be prudent to wait until the market has corrected by more than 50% before buying on Binance. By doing so, investors may be able to acquire tokens at a more favorable price point, leading to increased profitability in the long term.

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#crypto #Airdrop #ID #SpaceID #BTC

SPACE ID (ID) prices have moved between a 24-hour high and low of $0.5206 and $0.4631, indicating a bullish trend. At this writing, the bulls were still in the market, causing ID to trade at $0.4725, a 6.12% increase from the previous day’s closing price.

Continued positive momentum in the market may push prices beyond the $0.5206 barrier level, with further resistance at $0.5500 and $0.5800. On the other hand, a rapid change in market mood might trigger a negative reversal.

During the upturn, market capitalization, and 24-hour trading volume increased by 5.83% and 24.87%, respectively, to $135,402,469 and $237,426,907, indicating the market’s purchasing pressure. This spike illustrates investors’ rising trust in the market and indicates a bullish prognosis for ID’s future success.

ID/USD 24-hour price chart (source: CoinMarketCap)

In the ID/USD 4-hour price chart, the Aroon up reading of 64.29% and the Aroon down the reading of 50.00% indicates that the present bullish momentum is strong and expected to continue in the near future. However, there may be some minor corrections or pullbacks along the way.

This action increases traders’ confidence in the upswing and may entice additional buyers to enter the market, propelling prices further.

With a score of 0.11, the Chaikin Money Flow move north indicates that money is pouring into the market, indicating a positive feeling among investors and the likely continuation of the upward trend.

This movement also enhances market trading volume and liquidity, making it more straightforward for traders to purchase and sell IDUSD at favorable prices.

ID/USD chart (source: TradingView)

With a value of 48.21, the stochastic RSI climbs above its signal line, indicating that the positive momentum in ID/USD will likely continue in the short term, signaling a potential buying opportunity for traders.

This expectation is because it evaluates the intensity and velocity of a trend, and when it crosses over its signal line, it indicates that purchasing pressure is building and might lead to more price advances.

The Money Flow Index advances north with a rating of 47.03, indicating a purchasing pressure in the market as more money flows into the stock, indicating a probable higher trend soon.

ID/USD chart (source: TradingView)

ID’s bullish trend continues as market cap, and trading volume show that traders are confident in the upswing and potential buying opportunities ahead.

#Binance #ID #SpaceID #crypto2023 #crypto

Binance, one of the world’s largest cryptocurrency exchanges, has announced the launch of its 30th project on Binance Launchpad – Space ID (ID), a universal Web3 identity protocol with multi-chain name service.

According to the announcement, the token sale for Space ID will follow the Launchpad subscription format, with the recording of user BNB balances starting on March 17, 2023, at 00:00 (UTC).

The sale will run for five days, from March 17, 2023, to March 22, 2023, during which Binance will record user BNB balances for each day over a five-day period. The final BNB holding amount for each user will be determined as the average of the five days, using the Daily Average BNB Balance calculation previously announced by Binance.

The Space ID token sale has a hard cap of $2,500,000 USD and a hard cap per user of $15,000 USD (600,000 ID). The total token supply is 2,000,000,000 ID, with 5% of the total token supply (100,000,000 ID) allocated to Binance Launchpad. The public sale token price is 1 ID = 0.025 USD, and the price in BNB will be determined prior to subscription.

The subscription timeline for the token sale is divided into three periods: the preparation period, the subscription period, and the calculation period. During the preparation period, which runs from March 17, 2023, to March 22, 2023, user BNB balances will be calculated in hourly snapshots for each day over a five-day period. The final average daily BNB balance over these five days will determine the maximum amount of BNB that users can commit later on.

The subscription period will open on March 22, 2023, at 06:00 (UTC) for a three-hour period. Users must also sign the Token Purchase Agreement at the same time, prior to committing their BNB. Once committed, the BNB will be locked, and users will not be able to redeem or access any other functions such as transfers, withdrawals or trading until final token distribution.

The calculation period will begin on March 22, 2023, at 09:00 (UTC) and will run for one hour. Subscription closes, and token allocation calculation begins during this period.

The final token distribution will take place on March 22, 2023, at 10:00 (UTC). The final token allocation will be calculated, and the corresponding BNB will be deducted from the already-locked BNB amount. Once deducted, ID and BNB tokens will both be transferred to the user’s spot wallet.

Binance Launchpad has been successful in launching several innovative blockchain projects, and the launch of Space ID (ID) is sure to generate significant interest among investors. The Launchpad subscription format allows for fair and transparent token sales, ensuring that all users have an equal chance of participating in the token sale.

What is Space ID (ID)

Space ID is a groundbreaking project that is building a universal name service network with a one-stop identity platform, aimed at facilitating the discovery, registration, trading, and management of Web3 domains. It is also providing a Web3 Name SDK & API that developers across various blockchains can use. This enables everyone to easily build and create a Web3 identity.

The platform is one of the largest Web3 name service providers in the industry, with the bnb and arb Top Level Domains (TLDs) being its primary name service providers. Additionally, the native token of the SPASpace ID ecosystem is ID, which can be used on the Space ID platform and to participate in Space ID DAO governance proposals.

One of the major components of the infrastructure is the one-stop Web3 Domain & Identity Platform. This feature enables users to manage all aspects of their domains in one place, providing a seamless experience. The platform also includes a multi-chain name service, which is not limited to the Top Level Domains launched by the Space ID team, but also welcomes other domain providers joining Space ID.

Another key feature of the project is the Web3 Name SDK & API. It has been designed to simplify the integration of Web3 name services in a unified and streamlined approach. This will make it easier for developers across various blockchains to integrate with Space ID and enable more users to benefit from the services.

The ecosystem surrounding Space ID is also thriving, with over 100 leading and reputable projects, including BSCScan, Trust Wallet, and more, already integrated with the platform. This has strengthened its position in the market and demonstrated its ability to provide value to users and developers.

Overall, Space ID is an innovative project that is revolutionizing the way we manage Web3 domains and identities. Its comprehensive infrastructure, multi-chain name service, and thriving ecosystem make it a significant player in the industry, with potential to drive further growth and adoption in the future.

#Binance #azcoinnews #SpaceID #SpaceIDProtocol #crypto2023

This article was republished from azcoinnews.com