NoahArk Tech Group raises $2.4 million from EOS Network Ventures, representing monetary support and a strategic alliance to foster innovation within the EOS ecosystem.
EOS Network Ventures Funded NoahArk Tech Group
NoahArk Tech Group is an organization that was established due to the joint efforts of Defibox.io and Noahark.io to strengthen decentralized exchange (DEX) operations within the EOS ecosystem.
Eason, the CEO of NoahArk Tech Group, met the collaboration's potential with great enthusiasm and declared it a turning point in the EOS DeFi ecosystem. This development incorporates enhanced operational capabilities via EOS EVM. It will simplify the involvement of established products and developers and streamline asset transfer via cross-chain bridges.
EZ Swap, a GameFi innovator, had previously been funded by EOS Network Ventures with a $500,000 investment, U.Today reported.
The Director of EOS Network Ventures, Yves La Rose, emphasizes the importance of their investment in strengthening the expansion of DeFi infrastructure. This investment signifies more than just financial support.
The strategic roadmap of NoahArk Group entails capitalizing on Defibox.io's status as a leading DeFi platform on EOS Native and Noahark.io's pioneering methodology on EOS EVM to propel an extensive range of revolutionary endeavors within the DeFi industry.
EOSUSD Technical Analysis
In the daily chart of EOS price, the border market direction is bullish, where the most recent downside recovery towards the 50% Fibonacci Retracement level from the existing bullish leg suggests a bullish rebound.
In the broader context, the previous weekly close indicated a downside continuation as it came with a bearish engulfing pattern. In that case, a solid elimination of the bearish candle pattern needs a valid price action in the daily chart.
The recent price moved below the dynamic 20-day EMA, suggesting a downside contamination. Moreover, the daily RSI moved below the 50.00 neutral line, while the MACD Histogram remained stable at the bearish zone.
Based on the daily outlook of EOSUSD, a bullish trading opportunity might come after overcoming the 0.7558 event level with a bullish daily candle. In that case, the upward continuation might take the price toward the 0.9147 high.
On the other hand, the ongoing downside continuation has a higher possibility of extending, where a daily close below the 0.6700 level would take the price even lower.
