Category: Cryptocurrency News

submitted by /u/two0nine [link] [comments]

Just curious if it's even possible and if it is are there any tax benefits? Would it make a difference running a solo validator vs a pooled one? submitted by /u/RevDev69 [link] [comments]

Political newcomer and Bitcoin holder J.D. Vance will take Rob Portman’s U.S. Senate seat in Ohio, but majority control of both chambers of Congress has yet to be decided.

Millions and millions are being destaked every hour it seems! We are currently at 56 million SOL destaked and counting ready for the biggest dump ever! There's 14h left of what seems to be the end of an era. Most likely once SOL enters the single digits domain it's gonna be an avalanche (pun intended)…
Read more

submitted by /u/Angelonosis [link] [comments]

The FTX drama continues as the deal with its competitor Binance falls apart. According to several reports, employees at the platform are fleeing amid growing concerns about a massive $6 billion hole on the company’s balance sheet. Related Reading: Bitcoin On-Chain Data: Selling From Whales Holding 1k+ BTC Behind Crash A report from Semafor indicates that FTX’s legal and compliance staff left en masse as the company announced its deal with Binance. The report cites people familiar with the matter speculating on the company’s hurdles to completing any agreement without a legal staff.  FTX’s Team Goes Silence, Employees Keep Faith In CEO Across social media, users began reporting that websites related to FTX and its trading arm Alameda were close. In addition, top executives went silent, seemingly escaping from what appears as the collapse of another major crypto institution.  FTX’s insolvency caught institutions and big players by surprise. The company saw many top representatives quitting their positions over the past months as U.S. regulators launched an investigation against the trading venue and its founder Sam Bankman-Fried.  Still, a large portion of crypto investors and employees remain in disbelief. The exchange halted new withdrawal requests on Tuesday. However, it continues to see deposits.  According to Wu Blockchain, FTX employees have their tokens stuck on the platform:  Several FTX employees told us that their coins cannot be withdrawn in FTX, and have no idea of the relationship between Alameda and FTX, some employees even continue to buying FTT in these days because the trust of company. They felt that the SBF needed to explain. FTX Fails To Warn Users At the time of writing, FTX’s website issues no warning about the current situation. This situation could jeopardize new users or users making deposits.  Not even that, there is no warning or news any where on the site about no withdrawal, or about potential acquisition. Called this out right away and its still going. It’s fucking criminal. If you don’t follow news, you might just think coins are down bad. — Adam Cochran (adamscochran.eth) (@adamscochran) November 9, 2022  Merely days before the drama, FTX’s official Twitter handle posted videos about the several offices in construction across the world. The crypto company would inaugurate offices in Tokyo, Miami, the Bahamas, and other locations.  More room for builders ready soon at @FTX_Official Bahamas HQ 🌴 pic.twitter.com/mP2chek0NJ — Claire Watanabe (@claire_FTX) November 6, 2022  Conversely, Bankman-Fried constantly tweeted about his weekly FTT purchases, the exchange’s native token. In hindsight, the posts seem like a marketing stunt to lure retail investors into purchasing the token and preventing the subsequent fallout.  Related Reading: Polygon (MATIC) Looks Good Above $0.75 Despite Market Turmoil; Here Is Why? FTT has been one of the most affected tokens in the crypto market. Binance’s CEO compared the token with Terra’s failed cryptocurrency LUNA. At the time of writing, FTT’s price trades at $3.2 with massive losses across the board. 

submitted by /u/Yuuki__konno [link] [comments]

 MATIC’s price loses its $1 support as the price trades to a region of $0.8.   MATIC’s price continues to look bearish with the market’s current state, as things look uncertain for most traders and investors.  MATIC’s price remains weak across all timeframes as the price trades slightly below the 50 and 200 Exponential Moving Averages (EMA). In the last two days, the crypto market has been erratic with the price of many altcoins, including Polygon (MATIC), battling for survival. Previous weeks saw the price of Polygon (MATIC) outperform Bitcoin (BTC). Most altcoins trend higher as many produced gains of over 200%, including Polygon (MATIC) rallying from a region of $1.3, with many hoping the price of MATIC would pull off a good price action to a region of $1.5. Still, these expectations were cut short by the uncertainty surrounding the crypto market. (Data from Binance) Related Reading: Crypto Giant Coinbase Not Interested In Buying FTX U.S, COIN Stock Plunges Polygon (MATIC) Price Analysis On The Weekly Chart The previous week saw many altcoins produced over 200% gains over the past 7 days of breaking out of their range-bound movement, as many believe more hope is returning to the crypto space. The new week has yet to look like the previous as the week has looked choked with FUD (Fear of uncertainty and doubt), leading to many altcoins being affected negatively in price as major coins have been struggling to stay afloat from what looks like a crypto purge. Still, the price of MATIC has continued to look strong after breaking below its weekly high of $1, which has served as support after flipping the price, acting as a supply zone initially. The support formed at $0.75 has proven to be key to holding off the price from sell-offs. The price of MATIC breaking below the support at $0.75 is not good for the market as this would weaken this region for bears to push the price lower.  Weekly resistance for the price of MATIC – $1. Weekly support for the price of MATIC – $0.75. Price Analysis Of MATIC On The Daily (1D) Chart The price of MATIC remains considerably strong in the daily timeframe as the price trades above $0.75 support, holding off the price from trending lower after retesting this region on previous times, bouncing off to begin a rally to a region of $1.  MATIC’s price closed above $0.8 daily, indicating there are more chances of MATIC trending upwards to a region of $1 as the market continues to recover in the coming days.  If the price of MATIC holds above $0.75 support on the daily timeframe, we could see the price recover in no time, but if the price closes below this region, it would be tough to rally higher. Daily resistance for the MATIC price – $1. Daily support for the MATIC price – $0.75-$0.66. Related Reading: Bitcoin On-Chain Data: Selling From Whales Holding 1k+ BTC Behind Crash Featured Image From zipmex, Charts From Tradingview 

I went to log into my wallet on a new computer and realized my book wasn't where I kept it. Asked gf because she cleans sometimes and she even went "the blue sloth book with your crypto logins in it?" Yet the conclusion is she had to have thrown it out. Make backups of everything…
Read more

On-chain data shows Bitcoin whales with more than 1k BTC were the main sellers in the latest crash, as other cohorts displayed muted activity. Bitcoin Spent Output Value Bands Shows Spike From 1k-10k Group As pointed out by an analyst in a CryptoQuant post, unlike in the previous declines, the 10-100 BTC and 100-1k BTC cohorts didn’t show any spikes in activity during the latest crash. The relevant indicator here is the “Spent Output Value Bands” (SOVB). which displays the number of coins being moved by each value band in the Bitcoin market. These “value bands” or groups are divided based on the amount of coins moved in each transaction on the chain. For example, the 1k-10k BTC value band includes all transfers that involved between 1k and 10k BTC. The Spent Output metric for this value band then specifically measures the total amount of Bitcoin that was shifted using transactions of size falling in this range. Now, here is a chart that shows the trend in the Bitcoin SOVB for 10-100 BTC: The value of the metric seems to have been normal recently | Source: CryptoQuant As you can see in the above graph, during the previous selloffs, the Bitcoin Spent Output chart for the 10-100 BTC value band spiked up, suggesting that investors with at least 10 to 100 BTC were heavily selling their coins. Related Reading: Ethereum Sinks To $1.2k, But Selling Pressure Only Seems To Be Rising A similar trend was also seen for the 100-1k BTC value band, as the below chart displays. Looks like this metric has also not significantly gone up in recent days | Source: CryptoQuant In the most recent crash, however, while there was a spike in these indicators, it was nowhere near as sharp as in the previous instances. This suggests that these value bands didn’t see much dumping this time. Related Reading: Institutional Outflows From Bitcoin Paints Bearish Picture For Crypto Market The 1k-10k BTC cohort, though, has showed a different behavior. Below is the Spent Output graph for this value band. The indicator has shot up | Source: CryptoQuant As is apparent from the chart, the 1k-10k BTC value band registered a large amount of movement in the crash, suggesting that transactions worth more than 1k BTC accounted for the majority of the selling this time around. Such big transfers belong to the whales, meaning that whales drove this crash. While whale dumping is negative for the market, the quant notes that the decline in the other two cohorts could be a sign that selling pressure is now almost exhausted in the Bitcoin market. BTC Price At the time of writing, Bitcoin’s price floats around $17.1k, down 15% in the last week. BTC plummets down | Source: BTCUSD on TradingView Featured image from Georg Wolf on Unsplash.com, charts from TradingView.com, CryptoQuant.com