Coinbase just announced they are going to launch Ethereum NFT’s!
https://coinbase.com/nft/announce/1PPR2W submitted by /u/SempwrFiUSMC [link] [comments]
https://coinbase.com/nft/announce/1PPR2W submitted by /u/SempwrFiUSMC [link] [comments]
Bitcoin has once again cleared expectations for the month of October. The price of the digital asset had grown from its $40K lows to over $57K at the time of this writing. Its recovery trends have put it on a path of least resistance towards the previous $64K all-time high. But on-chain metrics have shown even more favorable trends among investors in the asset. Bitcoin Active Entities (i.e number of active users on the blockchain each day) paints a bullish picture for the asset going forward. This metric had dropped between May and September 2021, nearing lows seen in January 2020 when the bear market was still in full force. However, there has been a significant uptick in the number of Active Entities on the blockchain following the bull rally started at the beginning of October. Bitcoin Active Entities Up 19% Data from Glassnode shows that bitcoin Active Entities have seen an increase in recent weeks. At its lowest, Active Entities dropped to a little over 200K this year, down over 50% from its high of over 400K between January and February 2021. As the price of the asset has begun to soar again, so has the number of Active Entities. Related Reading | Why A Parabolic Move Is Expected For Bitcoin, Billionaire Mike Novogratz The significance of this shows in the movement of the price. The last time Active Entities saw a significant uptick, the market had seen a bull rally that put the digital asset on a path to new all-time highs. While the increase in Active Entities may not be significant this time around, it may still carry the same connotations for the market. Bitcoin active entities grows 19% in a week | Source: Glassnode If history is anything to go by, then the increase in Active Entities signifies renewed interest in the market. And one thing that has always preceded a bull run has been returning interest, which often marks the beginning of a long bull rally. BTC loses footing at $57,000, falls to $55,000 | Source: BTCUSD on TradingView.com More Bullish Signals Active Entities is not the only metric that recorded an increase. In the same report, Glassnode outlines that the average amount of bitcoin being transacted is on the rise. The median transaction size on the blockchain grew to 1.3 BTC, nearing the 1.6 BTC levels that were seen with the liquidity crash of March 2020. Like Active Entities, one metric cannot alone determine how much the price of an asset will appreciate or depreciate. But as the report notes, the increase in the average transaction size shows an increased interest from institutional investors who have more money to put into the market. Related Reading | Bitcoin Over $100,000 Is Still Possible By Year-End, Says Research Analyst If the median transaction size now sits at over 1.3 BTC, then the dollar value on these transactions is over $60K. This kind of money moving through the market shows inflows from wealthier investors, which could very well push the value of the digital asset higher. Although it is also important to note that institutional investors generally invest when the market is headed into a bear. So these accumulation patterns could represent the beginning of a bear when institutions begin to fill up their bags. Featured image from FX Empire, chart from TradingView.com
I have been trying faucets with no luck. If any kind soul could send some my way it’d be most appreciated! 0x102f45ccc811f9d718f3a07277a9c9D1616A6Afe submitted by /u/No-Pay370 [link] [comments]
There's a coin launched in September just a month ago called "Evergrow" coin. This coin is currently the 8th most viewed on Coinmarketcap (probably due to spam by its makers). The coin already has a market cap of $230 million. If you go to their website, the entire coin "team" is just made up of…
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Is it worth the $100 fee to open in account with Argent? How does staking your ETH make you money? Anybody here use Lido to stake and how what your experience? Would it be a good idea to use the stETH to lend on Argent via Yearn V2? Im trying to read up on it…
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With Bitcoin and Ethereum so close to their pre-crash highs, the general sentiment in the market seems to be predominantly bullish. In that sense, analyst CroissantEth took the task to summarize the factors causing such sentiment amongst traders and operators. Related Reading | As Bitcoin Breaks $57k, Quant Explains Why It Could See A Pullback Here Via Twitter, the analyst claimed that Bitcoin has increased its levels of attention to levels last seen during May, just before the cryptocurrency lost over 50% of its value in the first of several capitulation events. In addition, BTC’s second layer payment solution Lightning Network has experienced massive growth in its levels of adoption. The analyst attributed this growth to the introduction of the Bitcoin Law in El Salvador. As seen below, the Lightning Network recently saw an explosion in its number of payment channels. At present, this metric stands at an all-time high with a 226% increase in the past 12 months. Bitcoin will soon implement of its biggest upgrades since its inception, Taproot. To be rollout in November 2021, the upgrade will improve the network privacy and security, and smart contract capabilities. As the Croissant noted, when BTC upgrades “you probably want to pay attention”. A third potential price catalyzer for BTC is the approval of an Exchange Traded Fund based on Bitcoin derivatives by the U.S. Securities and Exchange Commission (SEC). Related Reading | Bitcoin Shocktober Continues To Outperform Altcoins En Masse How Bitcoin Could Benefit From A ETF Approval Some analysts believe that the BTC ETF approval in the U.S. could trigger a “buy the rumor, sells the news” event. The CEO of Pantera Capital Dan Morehead even went as far as to claim this event will mark the end of Bitcoin’s current bullish cycle. However, the Croissant disagrees with this take and has defended the importance of a BTC ETF as a way to attract fresh capital into the crypto market. As the analyst previously explained, investing in Bitcoin, after China banned it from its territory, could be considered ESG friendly. Thus, this could create a new layer of incentives for institutions to allocate capital on the cryptocurrency, the Croissant said: Investing in Bitcoin is investing in ESG. The significance of this can’t go understated, because it will be the argument needed for institutional adoption of BTC & several key players in the financial industry know this… Finally, the analyst pointed out that BTC tends to trend to the upside toward the end of the year. The macro-economic landscape offers further incentives, with a “monetary policy disassociated from reality”, for investors to feel attracted to Bitcoin. Ethereum On Its Way To A New Era The second cryptocurrency by market cap Ethereum continues to dominate most of the major trends in the space. From Non-Fungible Tokens (NFTs), decentralized finances (DeFi), to the play-to-earn model popularize by platforms such as Axie Infinity. Ethereum seems to have infinite use cases and applications. Thus, many institutions and big players have been turning their attention to this network. On the other hand, we have Ethereum picking up steam in a bunch of sectors The explosion of NFTs has brought big players to the blockchain, with new things being announced every day This has attracted attention from the likes of VISA, GameStop, Budweiser, TikTok, & the NBA. https://t.co/bon2ql4j42 — croissant (@CroissantEth) October 11, 2021 Of course, the recent implementation of EIP-1559, an upgrade on Ethereum’s fee model, has created a bullish catalyzer for ETH’s price. The update burns a portion of every transaction fee on the network effectively turning ETH into a deflationary asset. Related Reading | TA: Ethereum Bears Keep Pushing, Why ETH Could Slide Further The implications of this change are yet to be felt throughout the market, as the Croissant claimed: EIP-1559 has worked behind the scenes to burn $1.8M worth of $ETH in just 68 days. This is ETH being removed from the existing supply, that would’ve otherwise gone in to the hands of miners (& likely been sold). This is going to have astronomical effects with time The transition from Ethereum to Eth 2.0 in an event referred to as “The Merge”, is also part of the bullish factors for the cryptocurrency. The “supply shock” effect on ETH’s price and the improvements on the network scalability shouldn’t be underestimated, according to the analyst.
Americans are still concerned about dealing with inflation, as the cost of goods and services has continued to rise significantly in a short period of time. The Federal Reserve has published the latest Survey of Consumer Expectations report and U.S. households believe inflation will be up 5.3% one year from now. In addition to the […]
I thought shit was crazy when DOGE entered the top 10, but little did I know I hadn’t seen shit yet. If things continue at the rate SHIB will be in the top 10 within a few days. I think this is undeniable proof that the only thing that matters in crypto is hype. It…
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