RATE Group | Set Protocol Launches Ethereum Trading Strategy Bots
54491
wp-singular,post-template-default,single,single-post,postid-54491,single-format-standard,wp-theme-bridge,wp-child-theme-bridge-child,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

Set Protocol Launches Ethereum Trading Strategy Bots

15 Jul Set Protocol Launches Ethereum Trading Strategy Bots

Posted at 22:38h in Ethereum News by

[ad_1]

Set Labs, San Francisco-based investment platform, unveiled an Ethereum-based financial trading instrument that captures crypto’s volatile attributes for the investor’s benefit.

The “Trend Trading ETH 20 Day Simple Moving Average Crossover Set” uses a two year back-tested “moving average” to capture the momentum of price swings and limit losses in the market.

The ETH Crossover Set uses the ERC20 token to represent user’s funds as either Ether or as Coinbase’s stable USDC. The Set employs two MakerDAO’s ETH/USD price oracle ts to track the daily price and moving average of Ether and is programmed to make trades “whenever the current price of ETH crosses the 20 Day Simple Moving Average indicator.”

If the Set is currently in ETH and the price goes below the moving average, it rebalances ETH into USDC. Likewise, if the Set is currently in ETH and the price goes above the moving average, it rebalances USDC into ETH. “Essentially, you would be…

[ad_2]

Source link