Category: Cryptocurrency News

The price of Axie Infinity (AXS) has struggled recently with a few bullish signs against Tether (USDT) despite market sentiments around the project. As a result of the “Merge” sentiments, this has led to many altcoins showing relief rallies and newer altcoins making all-time highs; the price of Axie Infinity has struggled to rally despite many expectations on AXS holders. Related Reading: Ethereum Market Observes Pileup Of Leverage As ETH Breaks $2k The Merge is an upgrade on the Ethereum network from Proof-Of-Work (POW) to Proof-Of-Stake (POS) to increase its network efficiency in transactions. (Data feeds from Binance) Axie Infinity (AXS) Price Analysis On The Weekly Chart From the chart, the price of AXS saw a weekly low of around $14.2, which bounced from that area and rallied to a price of $18. The price has built more momentum as it faces resistance at $19.3. If the price of AXS on the weekly chart continues with this structure, it could quickly revisit $18, acting as a good support area for buy bids. Weekly resistance for the price of AXS – $19.3. Weekly support for the price of AXS – $14. Price Analysis Of AXS On The Daily (1D) Chart The price of AXS found strong support at around $17.5, which seems to be an area of interest on the daily chart. AXS bounced from its support and has rallied as it faces resistance at $19.3. The price of AXS has continued to range in a channel; breaking out of this channel could send the price of AXS to $28. At the point of writing, the price of AXS is $19.27, above the 50 Exponential Moving Average (EMA) with a price of $17.5. If the price of AXS holds the support of $17.5 successfully, we could see the price trending higher with a successful breakout of the channel; if the price of AXS gets rejected, $17.5, which corresponds with 50 EMA, will be good support for buys. The Relative Strength Index (RSI) for the price of AXS on the daily chart is above 55, indicating healthy buy bids for AXS. Daily (1D) resistance for AXS price – $19.3. Daily (1D) support for AXS price – $17.5. Price Analysis OF AXS On The Four-Hourly (4H) Chart The price of AXS has continued to range in a channel having resistance at $19.3.  AXS is trading above the 50 and 200 EMA with prices of $18.4 and $17.3, acting as its support on the 4H chart should the price of AXS gets rejected due to the weekend sell-off. If the price of AXS holds above the support of 18.4 with the good volume, we could see prices trending and breaking out of the range channel. If AXS experiences a sell-off, 50 and 200 EMA prices would support AXS prices. Four-Hourly (4H) resistance for AXS price – $19.3. Four-Hourly (4H) support for AXS price – $18.4, $17.3. Related Reading: Ethereum Sees Setback After Breaking $2k, But Price Likely to Maintain Upward Trajectory Featured image from Coin News, Charts from TradingView.com

Amid the crackdown against Tornado Cash, associated addresses, contributing developers, and anyone who uses the mixing platform, the project’s governance token called TORN has shuddered in value. TORN is an ERC20 with a fixed supply that is leveraged for governance proposals and voting. During the last seven days, the Tornado Cash governance token has lost […]

This is something I've been mulling over a long time and it seems timely to have a discussion about it. Why are smart contract frontends still websites? Why haven't we moved past this? There are multiple pressing reasons for moving towards trustless frontends: Developers may be compelled to limit access to their own DApps, pushing…
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submitted by /u/_Zazu95_ [link] [comments]

I love spreadsheets, graphs, data and crypto. So I've collected all the data posted in the Moon distribution .CSV files, made some sense of it all in a spreadsheet, then made us some graphs. Total Karma https://preview.redd.it/vj95z9lwcjh91.png?width=1408&format=png&auto=webp&s=4680075a25e6d0ce94d20d35e52819c0033152f1 The Sum of all the karma per round A 38% decrease since the last round. I've added the…
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UPDATE: u/ChemicalGreek was the very very very kind stranger to finally come up with a solution and talking to me for more than an hour in discord. I would like address him as the sweetest person I have "met" here on reddit, he did not even accepted my moons! The problem was backing up my…
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Most DeFi code is open source. That means you or I can take it, change it a little, leverage the work of others (which is half the point of FOSS) and make cool things. The DAI contract code and MakerDAO code is really cool, and can be used to create a collateralized asset pegged to…
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submitted by /u/laulau9025 [link] [comments]

Data shows a large amount of leverage has been piling up in the Ethereum futures market as the price of the crypto breaks above $2k. Ethereum Open Interest Surges To Highest Value In Last 4 Months As pointed out by an analyst in a CryptoQuant post, the ETH futures market has seen the leverage sharply going up recently. The “open interest” is an indicator that measures the total number of Ethereum futures contracts currently open in all derivatives exchanges. When the value of this metric rises up, it means investors are opening up more positions on the market right now. Since more futures positions imply that leverage is also going up in the market, such a trend can lead to higher volatility in the price of the coin. On the other hand, lowering values of the indicator suggest holders are closing up their positions at the moment. This kind of trend can result in a less volatile value of ETH. Related Reading: Bitcoin Bearish Signal: Whales With 1k-10k BTC Depositing To Exchanges Now, here is a chart that shows the trend in the Ethereum open interest over the course of 2022 so far: Looks like the value of the metric has shot up in recent days | Source: CryptoQuant As you can see in the above graph, the Ethereum open interest has observed some sharp uptrend during the past couple of weeks. The indicator has now reached a value of 7.4 billion, the highest it has seen during the last four months. However, there is an interesting comparison here. Related Reading: New Findings Shows Institutional Investors Take More Interest In Ethereum Around 4 months ago, when such values were previously observed, the price of ETH was about $3.3k. But today the price is just $2k, around $1.3k less than it was back then. And yet, the open interest is at the same level, meaning the Ethereum market might be having the same degree of leverage this time as well, while the price is much lower. When especially high leverage accumulates in the futures market, any sharp swing in the price can liquidate a large number of positions at once. These liquidations then further amplify this price move, which liquidates more positions. In this way, liquidations can cascade together, and the event is called a “liquidation squeeze.” This is the reason behind the volatility of an overleveraged market. If a long squeeze does end up taking place this time, then the latest rally in the value of ETH may hit the breaks. ETH Price At the time of writing, Ethereum’s price floats around $1.9k, up 5% in the past week. The value of ETH seems to have gone up during the last few days | Source: ETHUSD on TradingView Featured image from Kanchanara on Unsplash.com, charts from TradingView.com, CryptoQuant.com