Category: Cryptocurrency News

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

Canadian investors represented a hefty $487.5 million worth of outflows for crypto investment products, with the figure partially offset by $70 million worth of inflows from five other countries.

Dogecoin’s price has been optimistic over the last week. The coin secured double digit gains over the last seven days, it rose by nearly 20%. The meme-coin has been experiencing rigid resistance at the $0.07 level and if it trades around the current price level, it could fall to its next support line of $0.05. The bulls have tried to show signs of recovery as the coin tried to move upwards slowly over the past few days. On the shorter time frame, DOGE has lost some of its market value. Over the last 24 hours, Dogecoin depreciated by 4%. Technical outlook for the coin has also depicted some bullishness as the coin went north by almost 20%. Buying strength also recovered over the last week, but as the meme-coin depicted some bearishness over the shorter time frame, currently sellers are more in number. Even though on the four-hour chart DOGE depicted negative price movement, the coin has displayed a bullish reversal pattern. The global cryptocurrency market cap today is $979 Billion with a 2.9% fall in the last 24 hours. Dogecoin Price Analysis: One Day Chart DOGE was priced at $0.072 on the one hour chart. The coin has been stuck at the same resistance level for a couple of weeks now. A fall from the current price level will push Dogecoin to $0.060, failing to stay above which the coin can attempt to trade at $0.047. Overhead resistance for the coin stood at $0.08 and then at $0.09. On a relatively longer time frame, the coin has formed a bullish reversal pattern. The pattern is called the BARR Bottom pattern. The BARR Bottom pattern is referred to as a bump-and-run reversal bottom pattern. This technical pattern is tied to an extended trend reversal in an ongoing bear market. The pattern is characterised by three phases which are the Lead-In phase, Bump and finally the Run phase. At the current moment, Dogecoin was in the bump phase which will be followed by the run phase that will overturn the bearish price action. If this happens the coin could touch the $0.090 and then the $0.011 level. Volume of Dogecoin traded fell indicating that the buying strength has fallen on the chart. Technical Analysis DOGE was inclining towards a bearish price action. It even formed a rising wedge pattern on the four hour chart. The Relative Strength Index also depicted a downtick signifying that buyers were fading out of the market. A rising wedge pattern is tied to a bearish price signal. It could be possible that over the immediate trading sessions DOGE might register some bearishness. On the longer time frame, the coin could recover. On the 20-SMA indicator, the coin was above the 20-SMA line. This indicated that despite falling buying pressure, buyers were still driving the price momentum. Related Reading | TA: Ethereum Bulls In Control, Why ETH Could Clear $1,300 In consonance with the technical outlook on the four-hour chart, the coin registered a sell signal. The Awesome Oscillator which depicts the price momentum painted a red signal bar. The red signal bar is tied to a sell signal on the chart. Parabolic SAR indicates the current trend and also the trend reversals. Dotted lines underneath the candlesticks are a signal of bearishness on the chart. It could be so that that the coin might dip over the immediate trading sessions and then move upwards. Related Reading | Cardano Formed This Pattern On Its Chart, Where Is The Coin Headed? Featured image from Unsplash.com, chart from TradingView.com

I am curious to hear feedback from others on this subject. My feeling is that Gensler probably thinks it's not a security but it's a little to close to others in the space to mention it without providing any rationale. Any other thoughts? submitted by /u/Old_Chip3003 [link] [comments]

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

I'm using this website: https://ethervm.io/decompile If I decompile, obviously it's the case that an exact replica of the original code is not possible. However, can the code that is produced be reliably compiled into the contract that possessed theoriginal bytecode? contract on etherescan.io –> bytecode –> decompile to Solidity with https://ethervm.io/decompile –> recompile submitted…
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The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, says bitcoin is a commodity. He emphasized that the SEC, the Commodity Futures Trading Commission (CFTC), and banking regulators will collaborate to oversee the crypto sector. Gary Gensler: Bitcoin Is a Commodity SEC Chairman Gary Gensler clarified his position on cryptocurrency, particularly bitcoin, […]

Welcome to the Daily General Discussion thread. Please read the disclaimer and rules before participating.   Disclaimer: Consider all information posted here with several liberal heaps of salt, and always cross check any information you may read on this thread with known sources. Any trade information posted in this open thread may be highly misleading,…
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Right now I have go-ethereum running and I use the console whenever I want to send a transaction. Do I need to run Lighthouse/Prysm/etc now as well? Do I need to move my private keys to a CL client? Every guide I see seems to be about becoming a validator but I don't really care…
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Ethereum fees had touched new highs thanks to the popularity of the decentralized finance (DeFi) space. As network activity had grown, so had the transaction volumes. The effects continue to linger even into the bear market, although fluctuations between low and high are now more common in the space. Presently, transaction volumes have fallen sharply and ETH fees have now plummeted to monthly lows. Ethereum Transactions At $0.5 Ethereum transaction fees have declined to one of their lowest points this year. Gas costs which have been fluctuating between high and low seem to have found their resting place at lower prices. In the early hours of Monday, the gas costs for the Ethereum network had declined to their lowest point for June. It sat at only 19.8 Gwei per transaction at the time of this writing, which converted to about $0.5 per transaction on the network.  Related Reading | Bitcoin May Not Reclaim All-Time High For Another Two Years, Binance CEO This translates to a more than 80% drawdown from the peak of the gas costs last week at 151.3 Gwei per transaction. This coincides with a decline in transaction volume on the network, as shown on Messari. The data aggregation website shows that Ethereum’s transaction volume is down more than 80% from its monthly high. On the 13 of June, transaction volumes on the network had sat at more than $10 billion in real volume. Today, the real volume was sitting at $570 million, the lowest it has been for the month. ETH price declines to $1,179 | Source: ETHUSD on TradingView.com Supply has also taken a hit in the month of June. By the end of last month, there was more than 8.6% of all total ETH supply in DeFi. However, as of the time of this writing, there is less than 8.3% of the circulating supply in DeFi. This also translates to a dollar value of under $10 billion when three weeks ago, the value was at $30 billion. ETH Profitability Tanks With the recovery in the price of Ethereum has come some good tidings for investors. But, there is still a gap in the profitability levels from last year compared to this year. Going into the last month of the year in 2021, more than 80% of ETH investors had been swimming in profit. Given that the digital asset had hit a new all-time high in November, this was expected. However, there is a significant drawdown from this point. Data from IntoTheBlock shows that while the majority of ETH investors remain in profit, it is only by a small margin. 52% of wallets are currently in the green while 47% are in loss. This puts only 2% of all investors in the neutral territory, which remains shaky. Related Reading | Bitcoin Perpetual Open Interest Suggests Short Squeeze Led To Crash When it comes to the growth of the network, there is more negative sentiment among investors. The major reason for this is all of the competitors that are moving into the DeFi and NFT space. Solana especially has been giving Ethereum a run for its money in the NFT game, triggering an exodus towards the network which offers faster transactions and lower fees. Nevertheless, Ethereum remains the second-largest cryptocurrency by market cap. Currently trading at $1,200 at the time of this writing, the cryptocurrency boasts a market cap of $149 billion. Featured image from CryptoSlate, chart from TradingView.com Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet…