Author: dfmines

Select altcoins are likely to move higher even as Bitcoin price takes a breather after hitting $50,000 for the first time in months.

“A trading platform that offers derivatives on digital assets to U.S. persons without registering, or in violation of CFTC trading rules, is subject to the CFTC’s enforcement authority,” said Dawn Stump.

I deposited 0.025ETH to my Binance wallet from Metamask and it never showed up. This transaction says it was successful but I never received it. On etherscan it says it was on EIP-1559. I tested 2 transfers to Binance that used 0 (legacy) with a different wallet that used and it worked just fine. I…
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As Bitcoin finally breaks $50k, on-chain data shows BTC indicators look similar to the rally that lead to the ATH earlier in the year. Bitcoin Indicators May Suggest A Repeat Of The ATH Rally From Earlier In 2021 As pointed out by a CryptoQuant post, the derivative exchanges’ reserve has been going down, while the funding rate has been turning slightly positive. This means these indicators are now gradually recovering from the May crash, and the trends at the moment look similar to the pre-bull run buildup. The derivatives exchanges‘ reserve is an indicator that shows the total amount of Bitcoin present in derivative exchange wallets. These derivatives platforms are different from spot exchanges in that they offer services like futures contract trading. Related Reading | South African Man Loses $900,000 Worth Of Bitcoin After Accidentally Deleting Keys An increase in the value of this metric implies more investors are sending their BTC to these exchanges for selling purposes. In such a case, there may be a selling pressure present in the market. Similarly, a positive value might mean there is a buying pressure in the market. Here is the latest chart for the Bitcoin derivative exchanges’ reserve: The value of the indicator seems to be heading downwards As the above graph shows, the indicator’s value has been slowly moving on a downtrend as it recovers to values seen before the May crash. The chart also highlights that this downtrend right now looks to be similar to the one seen before the start of the bull run. Related Reading | Crypto Market Goes Into “Extreme Greed,” What This Means For Bitcoin The other important indicator here is the Bitcoin funding rate. This metric shows the fees derivatives traders need to pay in order to keep their positions open. The below chart will reveal its current trend: The funding rate has started to turn slightly positive This indicator’s curve also looks to be similar to the trend seen during the period leading up to the 2021 bull run. A positive funding rate like right now means long traders have to pay a premium to keep their positions, implying a bullish sentiment among the market. BTC Price At the time of writing, Bitcoin’s price floats around $50.2k, up 8% in the last 7 days. Over the past month, the value of the cryptocurrency has increased by 48%. Below is a chart showing the trend in the price of the coin over the past three months: Bitcoin finally breaks $50k | Source: BTCUSD on TradingView It’s unclear at the moment whether BTC can keep the momentum up, but if the above indicators are to be believed, signs seem to be bullish for the cryptocurrency. Featured image from Unsplash.com, charts from CryptoQuant, TradingView.com

Hello, An old ETH ICO participant here. I sold 95% of my ETH too early back in 2017 😅 & have some locked up in a multi-sig wallet created from Mist which I need help recovering I created a multi-sig wallet (4-sig out of-5) with 4 other newly created wallets in 2017 for additional security…
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Say for example I would like encrypt a message using an ETH address (I don't have the private key for this public key). I store the hash in an NFT data. Now I send this NFT to the address I've used for the encryption. This user will be the only one that can decrypt this…
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Bitcoin broke the $50,000 mark for the first time this weekend. The first cryptocurrency by market cap saw a pullback and now trades at $49,554 with a 2.2% and 5.4% profit in the daily charts, respectively. The general sentiment in the market has flipped bullish, but many investors still wonder if Bitcoin will be able to sustain its gains or if the recent price action will end up operating as a “bull trap”. At the time of writing, indicators seemed neutral with analyst first Santiment recording an increase in the total BTC supply on exchanges. This fresh inflow came after the price of Bitcoin rose above $50,000, as trader Ali Martinez noted. Thus, it seems logical to assumed that some holders have decided to take profits on the recent rally. Thus, the high selling pressure has pushed Bitcoin back to the high $40,000s. Additional data provided by Ecoinometrics also recorded a rise in the number of addresses accumulating Bitcoin, as the price approach $50,000. As seen below, this suggests that more investors could be interested in buying Bitcoin at its current levels. Thus, the rally could be more sustainable than in the previous occasions when the price tried to reclaim all-time high levels, only to be rejected back to yearly lows. In support of the bulls, analyst William Clemente indicated that the Stablecoin Supply Ratio (SSR) has begun to trend upwards. This metric is usually used to measure demand volumes in the crypto market, as many investors rely on stablecoins to purchase Bitcoin and other cryptocurrencies. Stablecoins starting to flow back into the market. pic.twitter.com/qopR7NbITx — Will Clemente (@WClementeIII) August 23, 2021 As the chart shows, when the SSR started to descend in January 2021, BTC’s price followed after a period of sideways movement. Although the metric is on the rise, its effects could be felt in the medium term. Long Term Bitcoin Holders Take Profit, What Could Prevent More Profits A report published by Glassnode Insights confirmed that long-term holders (LTH) took profits on the rally. However, selling pressure seems low and bulls could continue their push. Despite the increase in Bitcoin supply held on exchanges, the firm believes that the net flows across these platforms have “stalled”. As seen below, Bitcoin inflows on exchanges increased leading into May and June’s sell-offs but have plateau during July and August. It is worth noting that the magnitude of inflow is not dissimilar to that seen through the Dec 2020 to April 2021 bull market period and is reasonably expected behavior. Glassnode claims that, unlike previous cycles, BTC long-term holders are more active and can trade their coins with more frequency. In addition, they believe the selling pressure is being “absorb” by the market. This suggests “sufficient” demand for these coins now entering a distribution phase. Younger holders seemed to be an important source of demand as the Realized Cap Hold metric “has been swelling throughout August”. Despite that, the total supply held by long-term investors has reached an all-time high. Thus, Glassnode believes that indicators are suggesting bullish conviction: The fact this trend has yet to slow down also demonstrates that significantly more coin volume is getting older, than younger. This adds further weight to the argument that the old hand spending observed this week is likely of low coin volume, and strategic de-risking, rather than a loss of conviction and a mass exit.

u/OldEntertainment9570 has spammed the daily thread today more than 500 times in 16 hours. They are on pace to get 800 comments in a single 24 hour period. These comments represent more than 1% of all comments in the daily thread for August 23rd, 2021. If all 10k users online did the same, that would…
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