I've been subscribed to r/ Bitcoin for a while now. For those who don't know you can't even mention other cryptos in that sub (unless you're writing an essay on why ETH is a comscam). The mentality there is very much: If it isn't Bitcoin it is complete trash and a scam. There are some…
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If I create a new account on Metamask, will it be enough to be considerer as a burner wallet? Or does it need to be from a different seed? submitted by /u/NunoSaraiva91 [link] [comments]
submitted by /u/ledonskim754 [link] [comments]
Bitcoin movements in the 2022 bear market have almost completely deviated from the established bear trends in the market. The digital asset which had never fallen below a previous cycle peak had finally done it when it fell to $17,600 following the June crash. Since then, the cryptocurrency has had a hard time maintaining its price above the previous cycle peak and has now spent a number of weeks nursing this current level. Bitcoin Enters Consolidation Levels Bitcoin has been consolidating around the 2017 peak levels for the last month. It continues to struggle against the tide in this regard but not even the various recorded accumulation trends have been enough to drag it out of this rut. Since its fall to the $17,000 level, there has not been much in the way of recovery for the digital asset. Related Reading | Ethereum Price Falls Below Critical Level, Will It Hold $1,000? As a result, the major resistance points have been pushed further back, putting even more pressure on the price. The sell-offs continue to dominate given the low prices, and the demand across the big investors has continued to wane. The support that had been built up at $20,000 had been destroyed. As such, short traders have been able to take control of the price. BTC consolidates at 2017 peak | Source: Arcane Research It is important to note, however, that consolidation levels such as these can often precede large surges in price. This has been seen in various points in the past, even before the massive bull runs of 2021. However, if there is no significant move on the part of long-term investors, an immediate breakout of the consolidation level remains hard. Best Case Scenario Presently, there is no good argument for bitcoin going into another bull rally. The best case scenario remains that the digital asset is able to build up formidable support to fend off the bears. It’s either that or risk being dragged down to $14,000 where there is stricter support. This is because $14,000 is the peak cycle for 2019 and since the possibility of breaking through two different peak levels remains slim, there is a chance to hold this point. BTC price falls to $19,700 | Source: BTCUSD on TradingView.com It should not be discarded that bitcoin is also seeing support in the $17,000 territory. This was where it found support, and eventually a lift-off point, during the June crash. This was also the point at which there was a relief rally back in early 2018, in the early days of the bear market. So there remains the possibility of holding steady at this level. Related Reading | Bears Refuse To Budge As Bitcoin Struggles To Reclaim $20,000 There is still a chance for the digital asset to see higher prices. As seen last week, bitcoin had been able to beat the $22,000 resistance, albeit briefly. A break above this could see the cryptocurrency try to rally towards $28,000, which happens to be strong resistance for the asset. While a $28,000 mark is a nice short-term level to hit for investors, it should be kept in mind that there is still significant resistance at $25,000. This point which had served as support when the price had previously fallen below $30,000 now remains a bit hindrance towards another upward rally. Featured image from Marca, charts from Arcane Research and TradingView.com Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet…
PRESS RELEASE. Geopoly has announced the launch of a blockchain-based alpha version of the game, which will be playable via desktops. This is a game in which players can interact with the blockchain along with their respective Geopoly non-fungible tokens while simultaneously enjoying the gameplay and earning an income at the same time. Moreover, NFT […]
Ethereum second layer scalability company StarkWare confirmed the rumors about the upcoming launch of the StarkNet token. The asset is aimed at enabling the project to operate a decentralized ecosystem and to create an effective mechanism to “direct its evolution”. Related Reading | Polygon Climbs 20% On Disney Glee – Can MATIC Sustain Gains This Month? The StarkNet is an Ethereum second layer scalability solution based on Zero Knowledge (ZK) Rollup technology. This provides decentralized applications (dApps) with “unlimited” scalability without compromising security, decentralization, and composability. The StarkNet Token was designed to power and incentivized the key elements on this network. The announcement claims these are StarkNet’s users, operators, and developers. In that sense, the company has implemented a fee structure and token minting mechanism to prevent “speculative manipulation”, with “largely automated” processes, and a track record of efficient functionality across other blockchains. The announcement is very explicit about the important roles of Operators and Developers. Thus, these components of the StarkWare ecosystem will receive a portion of the StarkNet token. For example, smart contract developers will be rewarded with a portion of the fees paid by users for leveraging L1 and L2 smart contracts. This process will be automated, according to the design explained above. The more a project or smart contract provides value to the StarkWare and the StarkNet ecosystem, the more developers will be rewarded with a “larger portion of tokens allocated for this purpose”. The company clarified that the token allocation mechanism is “yet to be determined”, but they will make a big emphasis on preventing “gamification” and be transparent about this process. Furthermore, the company said that the StarkNet token won’t have a fixed supply. On the contrary, the supply “will increase over time”. The minting schedule is also to be determined by the StarkNet community. #StarkNet Alpha was launched on Ethereum Mainnet in November 2021. ✨Now it’s time to advance its decentralization as demanded of an L2 on Ethereum. ✨Here’s our decentralization proposal, introducing the StarkNet Token, and the StarkNet Foundationhttps://t.co/zk33gANsin pic.twitter.com/YTd0Uj5NbW — StarkWare (@StarkWareLtd) July 13, 2022 StarkWare Token Allocation Disincentives “Speculation”? The company claims it has minted ten billion StarkNet tokens. As seen below, these tokens will have the following allocation: 32.9% for “Core Contributors”, 50.1% to be granted by StarkWare to the recently created StarkNet Foundation, and a 17% for StarkWare investors. The StarkNet Foundation token allocation will be split with 18% destined for Community Provisions and Community Rebates. These tokens will reward key community members and users “who performed work for StarNet”. The latter is key in the entire allocation for the StarkNet tokens, the project is set at rewarding work and preventing people from speculating and “gamifing” the mechanism. As the announcement said there will be “no shortcuts to receiving tokens”. StarkWare said the following on its lockup and vesting periods: To align long-term incentives of the Core Contributors and Investors with the interests of the StarkNet community, and following common practice in decentralized ecosystems, all tokens allocated to Core Contributors and Investors will be subject to a 4-year lock-up period, with linear release and a one-year cliff. Some members of the crypto community disagreed with the token allocation claiming users and operators, allegedly two major components of the ecosystem, will not receive proper compensation. For StarkNet users, the company recommends the following in light of the upcoming token launch: If you are an end user, use StarkNet — but only as it serves your needs today. Use it for those transactions and applications that you value, not in expectation of any future reward of StarkNet Tokens. Related Reading | Upcoming ETH Merge Sees Institutional Investor Sentiment Turn Positive At the time of writing, Ethereum (ETH) trades at $1,140 with a 7% profit in the last 24 hours.
The San Francisco-based fintech company now supports Binance.US, Gemini, Robinhood and SoFi accounts.
DeversiFi, the first exchange to integrate StarkWare’s ZK-STARK technology, is the next dApp to move beyond its exclusive affiliation with Starkware and Ethereum and is transforming into rhino.fi, a gateway to DeFi, offering users frictionless access to the multi-chain world from a single app. With an expanded focus, rhino.fi will include other blockchains including BNB,…
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The blockchain company Polygon has been chosen to join Disney’s Accelerator program, according to a Walt Disney Company blog post published on Wednesday. The company’s 2022 Disney Accelerator initiative is a business development program that aims to “accelerate the growth of innovative companies from around the world.” Disney’s 2022 Accelerator Is Focused on Artificial Intelligence, […]
Bitcoin is among the assets that have shown high volatility in the current crypto bear market. Recently, the price of BTC has been hovering around the $20K level. However, the uncertainty with the leading cryptocurrency, most of its long-term holders have not shown any deviation from the token. Hence, they don’t seem to have taken a position. Data from Crypto Quant, an on-chain analytics firm, noted some sales from BTC holders irrespective of its low price. However, the sentiment for the present BTC sell-offs lies in the expectation of more drops in Bitcoin price. This is contrary to former sales built on the notion of a price spike for the king of cryptocurrency. Suggested Reading | CEL Token Price Plummets 50% As Celsius Goes Bankrupt But the persisting crypto winter seems to be putting more pressure on long-term holders of Bitcoin. The author, Ghoddusifar of Crypto Quant, noted that most of the recent BTC sales are from one-year token holders. Furthermore, it stated that such action within past cycles only occurred when BTC prices increased. So, the holders are possibly afraid of a future drop in Bitcoin price. As the crypto winter is getting more intense, Bitcoin market is perceiving an increase in the activities of whales. Before now, the stronger hands seemed to overlook the growing downward trend in BTC. However, seeing the market surpass their realized price, they must join the drawdown region. Their actions contributed to more Bitcoin long-term holders selling off their holdings. BTC Risk Indicator Hits All-Time Low Further analysis of Bitcoin key indicators is not heartwarming for its investment. Currently, Bitcoin reserves key risk indicator is at its all-time low. This indicator gives a measure of holders’ confidence in BTC. The trendy pattern for the risk indicator of Bitcoin reserve has shown a steep drop within the past few months. Among several opposing factors to the stability of the largest crypto are the prevailing bear market and other macroeconomic indicators. BTC has invariably lost about 60% of its value as of November 2021. Yet, the token’s indices on fear and greed indicate more negativity. They are pointing to a downward trend. According to the opinion of a crypto enthusiast, Murad, the market has hit its high timeframe bottoming zone. He maintained that the risk indicator of BTC reserve at its all-time low speaks volumes about its undervalued position. Suggested Reading | Loopring Wobbles In Last 2 Months – Can LRC Stay In The Loop? The implication is either a broken indicator or a high timeframe bottoming zone. But the enthusiast said it is more likely to be the latter. Featured image from Westend61, chart from TradingView.com
