Author: dfmines

Bitcoin ETPs have been experiencing some immense outflows. These have not come as a surprise though given that the price of the digital asset had crumbled last week. It has followed the price of bitcoin falling below $40,000 once again, leading to bearish sentiment among investors. This in turn has put immense selling pressures on other investors who have gained exposure to the market using trading investment vehicles such as ETPs. Outflows Rock Bitcoin ETPs Before this month, Bitcoin ETPs had enjoyed a prosperous month of inflows as faith was renewed in the digital asset following its campaign above $40,000. It was the strongest month in the history of these ETPs since October last year with more than 10,000 BTC in inflow recorded.  However, the month of April would prove to be the complete opposite as outflows so far for the month have been almost as high as inflows for the month of March and the month is not even over yet. This constitutes one of the largest outflows recorded for any month since the inception of Bitcoin ETPs. The last being in July 2021 when outflows had touched 13,849 BTC, Related Reading | How Bitcoin Futures Premiums Exhibit Signs Of Market Exhaustion April has been following this trend hard with more than 9,871 BTC and counting so far. Although a reversal of this trend could very well take place in the remaining days of the month. This is the second-largest outflow ever recorded and the direct effect of this has been the increased sell pressure on investors. ETPs outlfows second-largest in history | Source: Arcane Research Nevertheless, this is not as bad of a bearish signal as some might be led to believe. A look at the July 2021 outflows shows that it coincided with the peak of the summer sell-offs, which was promptly followed by a recovery in the price of the digital asset.  If this is the case, then this might mark the sell-offs that have been rocking the market in recent times. A bounce back from a point like this would likely put bitcoin on a path towards $55,000. BTC On The Charts For the better part of last week, the price of bitcoin had nested in the $40,000 support. It had eventually lost hold of this point and slid down to the $39,000 level. This would prove to be short-lived, however, as the midweek trading activities had brought the digital asset back up to $42,000. BTC starts another recovery trend | Source: BTCUSD on TradingView.com Even though the asset is doing well at this point, it is a long way from $45,000 where bears are mounting some of the strongest resistance ever seen in the market. This key resistance level had been the undoing of bitcoin in the past week. Related Reading | Halfway To The Halving: What This Means For Bitcoin The cryptocurrency has now moved to trade above the 50-day moving average, marking a bullish trend for the short term. A translation to a bullish trend for the long-term would see the digital asset bear the key resistance area of $45,000 and traveling all the way to $48,000. Below this point, BTC continues to stand on shaky ground. Featured image from Medium, charts from Arcane Research and TradingView.com

The nonfungible token startup has also formed a partnership with Dream Sports, an Indian sports technology company with more than 140 million users.

Dear crypto Reddit, ​ Do you remember the story where the bank cannot return all the money if everyone wants to withdraw it simultaneously? Recently at a party, I met one of the developers of the unnamed centralized exchange. We talked about manipulation by the exchanges, and he told me an interesting fact.- Exchange bots…
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Founder of TRON Justin Sun announced the launch of an algorithm stablecoin on this network. Called USDD, the digital asset will be deployed on May 5, 2022, and will offer users a basic “risk-free” interest rate of 30% annual percentage yield (APY). Related Reading | TA: Bitcoin Technicals Suggest Bulls Aim Sharp Move Above $42K The stablecoin will be available on TRON, but users can access it from Ethereum and the Binance Smart Chain. According to the open letter, the digital asset will be launched in partnership with “major blockchain players” and will be “the most decentralized stablecoin in human history”. Sun said: TRON is starting a self-imposed revolution, pooling all its resources to create USDD, a fully decentralized stablecoin underpinned by mathematics and algorithms, bringing the development of stablecoin to the next level. The stablecoin will be managed by the TRON DAO and “other major blockchain institutions” and will maintain a 1:1 pegged to the U.S. dollar with, as Sun explained, “proper algorithms in a decentralized manner” and “by applying mathematics”. The stablecoin will operate with a similar mechanism to Terra’s UST. Users will be able to redeem 1 USDD for 1 USD worth of TRX when the stablecoin drops below its peg. They can do the opposite if the price of the stablecoin rises about its $1 pegged. The stablecoin will follow a four-stage roadmap. The first stage will be called Space, the following International Space Station (ISS), then Moon, and finally Mars. Sun only provided details on the first two stages which mainly centered around USDD’s management and the strategies that will try to keep the stablecoin’s pegged. What’s TRON Ultimate Goal With Their Stablecoin? The launch of TRON’s stablecoin is part of a “self-imposed revolution” that will take these digital assets to their next stage, according to Sun. This movement is supposed to provide users with a way out of the centralized system. Sun wrote: The decentralized stablecoin USDD will free holders from central authorities’ arbitrary impositions and eliminate all entry barriers. Unlike centralized institutions that may freeze or confiscate users’ funds at will, decentralized stablecoins effectively safeguard private property rights. TRON claims that it wants to provide “equitable” access to financial services for people around the world. In that sense, Sun said TRON will be “one of the strongest cornerstones for the fifth freedom of humanity”. This announcement has caused controversy in the crypto community. Some users accused Sun of copying Terra’s UST model. The founder of Terra and CEO at Terraform Labs, Do Kwon, welcomed the initiative and hinted at a potential partnership with TRON. At the time of writing, TRON trades at $0.07 with a 15% rally in the last 24-hours. The cryptocurrency is possibly reacting to the announcement and the general sentiment in the market. Related Reading | TA: Ethereum Could Stage Strong Rally If It Clears This Key Resistance If launched successfully, USDD will provide its users with the largest APY for staking a stablecoin in the crypto ecosystem. This would surpass Terra’s Anchor Protocol’s 19% APY, and the upcoming NEAR’s 20% APY, if it launches.

Bitcoin had been on a downtrend for the past few weeks, the coin, however, started to show an uptrend over the past 48 hours. BTC was optimistic as the coin finally broke over its crucial resistance of $40,000. It was seen trading above $41,000 at the time of writing. Price fluctuations had initially caused some minor deterrents in terms of buying pressure. Over the last two days, however, buying pressure mounted. BTC was on a bullish sentiment on its four-hour chart. If bulls continue to push prices on the upside, BTC could soon challenge $42,000. The coin could also move towards a price pullback after being on a rise for a few days. The global cryptocurrency market cap stood at $2.03 Trillion after a positive change of 0.5% over the last 24 hours. Related Reading | TA: Bitcoin Technicals Suggest Bulls Aim Sharp Move Above $42K Bitcoin Price Analysis: Four-Hour Chart Bitcoin was trading at $41,900 at press time, over the last 2 hours the coin rose by 1.6%. In the last week, Bitcoin had lost its value considerably however it recovered some of its losses as the coin surged in the past 48 hours. Immediate resistance for the coin stood at $42,000, with consistent buying strength the price ceiling would stand at $43,300. A fall from this level would mean that BTC would be back to $40,000, a price the coin touched thrice in the last week. A fall from the $40,000 mark, the coin would trade near the $38,700, after which the coin would fall to $37,700. The volume of the Bitcoin traded was less compared to the previous sessions. The last session closed in green which meant that the coin was picking up bullish momentum. Technical Analysis   Bitcoin registered buying strength over the last 24 hours shot up. In the last week, buying pressure had dipped considerably as the asset was briefly oversold. With the bulls resurfacing the buyers have come back to the market. A continued bullish pressure could again push BTC to the overbought zone. King coin also displayed strength as the Awesome Oscillator also displayed a green signal bar. It is quite early to say if the coin would experience a price pullback over the next and immediate trading sessions. On the four-hour chart, the coin was placed above the 20-SMA line. This meant that the price momentum of the coin was propelled by buyers in the market. Continued buying pressure will push the coin to cross the $43,000 mark. MACD depicts the market momentum and on the indicator, the coin displayed green histograms which is a sign of positive price action. The coin had also undergone a bullish crossover on the four-hour chart, all of the indicators pointed towards continued bullishness over the immediate sessions at least. Related Reading | Halfway To The Halving: What This Means For Bitcoin Featured image from UnSplash, Charts from TradingView.com

Five months ago, Bitcoin.com News published a story concerning the speculation surrounding the third-largest bitcoin wallet, as many observers believe the address is a mega whale. The report noted at the time that the address “1P5ZED” shows all the tell-tale signs that it’s an exchange platform, but to this very day speculators still assume and […]

ok first of all, i hold a bag of CKB and from what i understand so far, its actually pretty badass, if the Nervos team pulls through. that being said, this is not intended to be a shill post, rather a slight bit of skepticism….. ok from what i understand so far, 1 CKB equals…
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OGN booked a 140% rally as increased staking rewards, the launch of a governance token and new NFT launches excite investors.

TRX was up by over 17% on Thursday, as founder H.E. Justin Sun announced that a new stablecoin, USDD, was going to be launched on the TRON blockchain. XMR was another big mover today, climbing to its highest point since November. TRON (TRX) TRX surged today, as founder H.E. Justin Sun of TRON confirmed that […]

So I’m a new dev in web3 space and looking for an idea to build a project, specifically a data analytics project. I think that the data for lending/borrowing protocol might be scarce and hard to find, but not sure exactly what data people really need but cannot find easily. Please help suggest your metrics!…
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