We see it all the time. Three days ago news sites reported ETH supply shifts back to inflationary, while last month it was reported that Ethereum turned deflationary. Let's have a look at the total ETH supply since merge to show this "action" going on right now: Total ETH supply since Merge Looks pretty dramatic,…
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It's all a bit over my head, but what I can understand seems revolutionary… assuming it ever becomes adopted, which is a big question mark. submitted by /u/Hang10Dude [link] [comments]
A quant has explained why the recent retest of a critical support level by Nasdaq may help Bitcoin reverse its own trend. Nasdaq-100 Has Recently Retested A Critical Support Trendline As pointed out by an analyst in a CryptoQuant post, Nasdaq-100 is currently above a support line that has historically been important. Nasdaq-100 (NDX) is a stock market index that includes 102 equity securities issued by 101 of the largest non-financial companies (based on their market caps) listed on the Nasdaq stock exchange. Here is a chart that shows how this trendline has acted as a bounce in the index’s price over the past decade: The value of the asset seems to have touched this line recently | Source: CryptoQuant As you can see in the above graph, the price of NDX has been supported five times by this trendline since the year 2010. In each of these instances, the line has put a check on the decline in the index, and has consequently reversed it back up. Related Reading: Upcoming FOMC Meeting Is The Most Important Ever For Bitcoin – Watch Out For The Dot Plot Recently, the Nasdaq-100 index has once again made a touch of this trendline, and has so far managed to stay above it. The quant notes that this retest could have been the end of the latest downwards trend, and might have also been the point of return of a bullish trend. However, if the trendline is lost instead, it would show the extreme strength of the downtrend, and would suggest that there is more drawdown ahead for the market. Related Reading: Is Bitcoin Bottom In? This On-Chain Condition Hasn’t Been Met Yet At the same time, Bitcoin has also been testing a support line, as the analyst has highlighted in the chart: Looks like BTC is also just above a support trendline right now | Source: CryptoQuant In the past year or so, Bitcoin has shown to be highly correlated with the stock market. The reason behind this correlation has been the rise of institutional investors in the crypto who treat it like a risk asset. The quant believes that if the current support retest in the stock market proves to be successful, then BTC could also be expected to see a reversal of its own due to its correlation with the stocks. Bitcoin Price At the time of writing, Bitcoin’s price floats around $17.2k, up 1% in the last week. Over the past month, the crypto has lost 7% in value. Below is a chart that shows the trend in the price of the coin over the last five days. The value of the crypto seems to have observed a sharp surge to $17.2k over the past day | Source: BTCUSD on TradingView Featured image from Maxim Hopman on Unsplash.com, charts from TradingView.com, CryptoQuant.com
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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submitted by /u/arbysbitchhhhhh [link] [comments]
We are excited to announce that we have launched SafeEscrow, a mutually-assured-destruction type of escrow contract for use in decentralized marketplaces, on the Ethereum network. Our first application of SafeEscrow is on WaterMelonMarkets, a defi marketplace for real-world goods, including gift cards. Our solution offers a high-trust way for users to buy and sell goods…
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On Dec. 9, 2022, Axios reporter Sara Fischer reported on the CEO of the crypto media The Block after it was discovered that the chief executive was secretly funded by Alameda Research, the now-defunct trading firm co-founded by Sam Bankman-Fried. According to the report, sources say The Block executive Michael McCaffrey received $16 million in […]
The 2022 bear market is impacting BTC miners in more extreme ways than previous downturns, especially with so many publicly listed miners struggling with their debt obligations.
an that connect with DAO’s or dApps? have a unique function? or do something different? etc. submitted by /u/SwurveMan [link] [comments]
