Willy Woo: 'Peak fear' but on-chain metrics say it’s not a bear market
“No doubt about it, people are really scared, which is typically […] an opportunity to buy,” Willy Woo said.
“No doubt about it, people are really scared, which is typically […] an opportunity to buy,” Willy Woo said.
Dorsey said that although Facebook probably started Diem for “the right reasons,” it should’ve used an open-ended protocol like Bitcoin rather than attempting to create its own currency.
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These next years from now until late 2020's will be the DeFi decade. Why am I saying this? DeFi is all about satoshi's vision of peer to peer electronic payments, lending, trading and investing, all of which are -for the first time- built on decentralized networks rather than controlled entirely by big companies. Over the…
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Lets say I deploy a smart contract now on ethereum network that can be used to create tokens, what is the process that derives a price for said token? How does that token end up having a price and what influences its volatility? Edit: I know it has to do with market forces and interplay…
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El Salvador has rejected the recommendation by the International Monetary Fund (IMF) to drop bitcoin as legal tender. The country’s finance minister reportedly “angrily” said, “No international organization is going to make us do anything, anything at all.” El Salvador Says No to IMF on Bitcoin The government of El Salvador has rejected a recommendation […]
In fact, I don’t think these JPEGs should be valued for more than 5 digits. And most of the time its not the market that’s setting these prices. They’re usually inorganically inflated. This is exactly why NFT like Bored Apes are so hated. I think the only valuable thing about Bored Apes is the access…
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After reaching its biggest market capitalization dominance since November 2021 last week, Bitcoin is regaining market share from altcoins. The pioneer momentarily accounted for almost 42% of the global crypto market cap in late January, according to CoinMarketCap data. Bitcoin Dominate Alt coins Since its inception, Bitcoin has been the most popular cryptocurrency. Its domination was unequaled for a long time, as the digital coin’s performance influenced the market’s outcome, bringing altcoins along for the ride in either win or loss scenarios. The influx of new altcoins into the crypto market, all with the goal of dethroning Bitcoin, threw its supremacy into disarray as a slew of altcoins fought for a piece of the pie, ranging from ethereum to dogecoin. Bitcoin dominance 1-day candle chart. Source: TradingView Despite the fact that Bitcoin has been in the red for the majority of the month, its portion of the $1.68 trillion crypto market has increased to around 42%, up from 39% two weeks ago. Bitcoin’s market capitalization has increased for the first time since mid-October, when it dropped from a peak of 46 percent. Throughout the second half of January, Bitcoin has managed to maintain its 40 percent market share. Related article | Bitcoin Supply On Exchanges Hits New Multi-Year Low Of 13.27% Unlike traditional market capitalization, which has remained relatively consistent since the all-time highs in November, realized capitalization has remained reasonably stable since the all-time highs in November, now sitting at $453 billion, according to data from on-chain analytics firm Messari. Bitcoin realized cap vs. BTC/USD chart. Source: Messari Alt Coins In Free Fall Ethereum and Solana, two of Bitcoin’s long-time adversaries, appear to be in severe trouble, with bitcoin’s 20 percent drop in January to about $37,000 still dwarfing the aforementioned. Ether has dropped 34% since the beginning of the year and continues to be wobbly as the debate over record-high fees and Ethereum 2.0, as well as questions about its ability to compete with Bitcoin, rages on. According to data from on-chain analytics startup Glassnode, the value being exchanged on the Ethereum blockchain per $1 in fees is dropping compared to Bitcoin. According to additional data, Bitcoin transaction costs now account for only 1% of the fees paid for ETH transactions. Polkadot is down 41%. Solana, which grew 100-fold in 2021, is now down 47%. Related article | Goldman Sachs: Mainstream Adoption Won’t Boost Bitcoin Price Featured image from Pixabay, chart from TradingView.com and Messari
Solana was on rebound as the coin was seen trading above the $100 mark. At the time of writing, Solana was exchanging hands at $107.82. This token’s recovery came right after Phantom, Solana’s native wallet concluded a successful fundraising round. In recent times, as the cryptocurrency market experienced a major-sell off, Solana too hovered in the oversold zone. The bulls have resurfaced and technical outlook reflected a positive change at the time of writing. Over the last 24 hours, SOL gained close to 17%. Over the last week, SOL was trading between $84.43 and $102.27 levels respectively. The recent bullish force propelled prices to finally trade over the resistance mark of $102.27. Price Analysis: SOL/USD Four Hour Solana’s prices moved above the 20-SMA line, which meant that buyers drove the price momentum in the market. According to the technicals on the four-hour chart, indicators flashed buy signal for the coin. Trading volume of SOL also noted a major appreciation which was indicative of increased buying pressure in the market. The Relative Strength Index was parked near the 80-mark, which meant that the coin was bordering overbought conditions. A slight push from the buyers could force RSI into the overbought and overvalued zone. The coin last hovered around the 80-mark, early in the month of December. MACD displayed a bullish crossover at press time and displayed amplified green histograms. This reading pointed towards a buy signal for Solana. Continued buying pressure would push prices beyond the $107.82 mark to the next resistance mark at $131.58. Additional price ceiling for the coin stood at $156.43. It is too early to say if the bulls would continue to hold their ground in the next trading sessions as the chart also had flashed a death cross in the past recent trading sessions. A death cross occurs when short term moving average is crossed over by the long term moving average. In the above the chart 20-SMA (red) was below the 50-SMA line. A death cross is indicative of a potential sell-off. Incase of a sell-off SOL would be seen trading near the $84 price level. Related Reading | Bitcoin Stolen From Bitfinex Hack Moved For The First Time In Five Years How Has Phantom’s Fundraising Helped Solana Phantom’s announced via a blogpost about raising $109M Series B funding round along with launching an iOS Phantom App. The Series B funding round was led by Paradigm. Previously, six months ago Phantom brought home $9M from Andreessen Horowitz after concluding its Series A. This Series B funding round has so far secured $1.2M already. Solana also has plans of expanding by supporting Web3 on its blockchain and additionally introduce multi-chain features in the upcoming time. Phantom success has positively affected Solana’s investors. Solana has had multiple network issues including outages and congestion faced in recent sessions. Solana had undergone a DDos attack four times in the last couple of months. With Phantom’s intervention, Solana’s investors might just gain some more confidence helping Solana grow. Related Reading | Ethereum Price Surges 30% Over Last Week Lows, Addresses Holding Over 0.1 ETH Reach New ATH
So every scammer on Reddit uses the same M.O. They answer every post and tell you to go to some phishing website that will prompt you to "verify" your seed phrase and the end users will clean out your acct. I find it impossible to believe that every one of these dipshits is smart enough…
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