Blackrock, one of the largest asset management companies in the world, has warned that 2023 will be a year of recession different from other recessions in the past. As part of its recently issued 2023 Global Outlook report, Blackrock states that a new economic playbook is required in a world defined by a supply-based economy […]
Dietrich Domanski, the outgoing secretary general of the FSB, said that recent events highlighted that it’s “urgent to address risks” within the space.
I discovered that addresses can be obfuscated so that the address is not in the contract's memory, but instead the contract stores a hashed version of the address. Then it can be checked later by performing the same hash. If someone checks every ethereum address then they could figure out which one it is. It…
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A Bitcoiner has literally taken the Lightning Network into his own hands, installing a tiny payment chip into his hands to make NFC contactless payments.
The major obstacle that L2s are facing right now in terms of hyper-scalability is the fact that they’re built using a monolithic architecture. This means that settlement, execution and data availability are all still wrapped in the same layer. This works for now, but if we want a more broader form of Ethereum blockchain adoption…
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Data shows the Bitcoin long-term holder supply has climbed back up and set a new all-time high, suggesting that conviction may be returning in the market. Bitcoin Long-Term Holder Supply Recovers From FTX Panic Selling According to the latest weekly report from Glassnode, BTC long-term holders now hold around 72.3% of the total circulating supply. The “long-term holder” (LTH) group is one of the two major cohorts in the Bitcoin market and includes all investors who have been holding onto their coins for at least 155 days ago, without having moved or sold them from their wallet. Related Reading: Bitcoin NVT Golden Cross Still In “Overbought” Region, Volatility To Follow? “Short-term holders” (STHs) make up the other side of the market. Statistically, the longer investors hold their coins, the less probable they become to sell at any point. Therefore, LTHs are the more resolute group of the two and are sometimes dubbed the “diamond hands” of the market. The “LTH supply” is an indicator that measures the total amount of BTC that these HODLers as a whole are currently carrying in their wallets. Here is a chart that shows the trend in this metric over the last few years: Looks like the value of this metric has seen an increase in recent days | Source: Glassnode’s The Week Onchain – Week 50, 2022 As the above graph shows, the Bitcoin LTHs displayed a strong accumulation trend between July and early November, causing their supply to reach a new height. However, the crash due to the collapse of the crypto exchange FTX completely reversed the trend as these holders quickly started shedding off their holdings instead. This decline in the indicator suggests that the crash made even these resolute holders panic and sell off their coins. But in the last few weeks, tides have once again seemed to have shifted. As the market has traded sideways, the LTH supply has observed a constant rise, implying that these investors are back at accumulating. The metric has now fully retraced the drawdown due to the FTX debacle and has set a new all-time high of 13.9 million BTC, corresponding to about 72.3% of the total circulating supply. Related Reading: Bitcoin Bottom Or More Pain? Here’s What BitMEX Founder Arthur Hayes Thinks The 155-day threshold would put the source of this new streak of accumulation back in June and July of this year, which is when the deleveraging event due to the 3AC collapse took place. This new rise in the LTH supply means the conviction is returning among these Bitcoin HODLers, something that has historically been bullish for the price in the long term. BTC seems to have bounced back from yesterday’s fall | Source: BTCUSD on TradingView At the time of writing, Bitcoin’s price is trading around $17.2k, up 1% in the last week.
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The DAO was initially served with a lawsuit via a help chat box but a federal judge said the regulator “should serve at least one identifiable Token Holder.”
Ethereum remained supported above the $1,240 level against the US Dollar. ETH is rising and might soon attempt an upside break above the $1,300 barrier. Ethereum remained well bid above the $1,240 and $1,220 levels. The price is now trading above $1,260 and the 100 hourly simple moving average. There is a major contracting triangle forming with resistance near $1,280 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a strong increase if there is a clear move above the $1,300 barrier. Ethereum Price Eyes Upside Break Ethereum price started a downside correction from the $1,285 resistance. ETH declined below the $1,260 level and the 100 hourly simple moving average. However, the bulls were again active near the $1,240 support zone. A low was formed near $1,240 and ether price started a fresh increase, similar to bitcoin. The price climbed above the $1,260 level and the 100 hourly simple moving average. It is now consolidating near the $1,275 level. There was a test of the 23.6% Fib retracement level of the recent increase from the $1,240 swing low to $1,278 high. An immediate resistance on the upside is near the $1,280 level. There is also a major contracting triangle forming with resistance near $1,280 on the hourly chart of ETH/USD. The first major resistance is near the $1,290 and $1,300 levels. Source: ETHUSD on TradingView.com A close above the $1,300 resistance might start a strong increase. The next major resistance could be $1,340. Any more gains might send the price towards the $1,400 resistance zone. Fresh Decline in ETH? If ethereum fails to climb above the $1,280 resistance, it could start another downside correction. An initial support on the downside is near the $1,260 level and the 100 hourly simple moving average. The 50% Fib retracement level of the recent increase from the $1,240 swing low to $1,278 high is also near $1,260. The next major support is near the $1,240 level, below which the price could even retest the $1,200 support. Any more losses could lead the price towards the $1,165 support in the coming days. Technical Indicators Hourly MACD – The MACD for ETH/USD is now gaining momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now well above the 50 level. Major Support Level – $1,240 Major Resistance Level – $1,300
