Category: Cryptocurrency News

So swapped bnb for ethereum roughly 2 hours ago and it said executed and I read BSc scan and says successful. But ethereum hasn't showed up in my trust wallet. Is it normal for ethereum to take this long? I've never had this long a wait time for other coins like bnb. Kinda sketchin out…
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While Bitcoin continues to take a beating in terms of dollars, the top cryptocurrency also continues to lose its share over the market cap. In fact, with the most recent support level breached, BTC dominance could be targeting historic lows. Historic lows in BTC dominance could mean that an altcoin season unlike ever before is potentially ahead. Here’s a closer look at the metric that weighs Bitcoin against the rest of the crypto space and how it could impact altcoin performance. Bitcoin Continues To Lose Cryptocurrency Market Dominance At one point, there was only Bitcoin. As the industry grew, a metric was born called BTC dominance that made it more clear how much weight the top coin had compared to the rest of the market. Prior to 2017, Bitcoin accounted for as much as 95% of the entire cryptocurrency market, but fell to a low of 35% less than a year later during what is considered to be the greatest altcoin season on record. Related Reading | 2022: The Year The Secular Bitcoin Bull Run Could End After reaching such extremes in 2018, by 2020, Bitcoin had recovered more than two-thirds of the market cap. Dominance topped out near 70% where it sharply reversed all throughout 2021. At the close of the 2021 yearly candle, a several year trading range was officially breached. The well defined range is even more visible in the six-month BTC.D chart. And it could create the conditions necessary for an unprecedented altcoin season. The yearly (left) and six-month (right) BTC.D chart | Source: CRYPTOCAP-BTC.D on TradingView.com Unprecedented Altcoin Season Could End At 32% Dominance With a decisive close on high timeframes, lower timeframe patterns could provide clues as to where dominance might bottom out once again. Related Reading | Bitcoin Falls Flat: Examining A Rare Bull Market Corrective Pattern The target of a head and shoulders top sent BTC.D to the dashed line, reinvigorating altcoins but still falling short of the mania seen during the 2017/2018 peak. A descending triangle could target 32% dominance | Source: CRYPTOCAP-BTC.D on TradingView.com With a potential descending triangle breaking down, the measure rule would make the target of the structure around 32% dominance. The target would suggest a move beyond the former historic low set years ago – and create the atmosphere needed for the aforementioned altcoin season mania. But it all could come at the expense of Bitcoin and its undisputed reign as the number one cryptocurrency by market cap. Follow @TonySpilotroBTC on Twitter or join the TonyTradesBTC Telegram for exclusive daily market insights and technical analysis education. Please note: Content is educational and should not be considered investment advice. Featured image from iStockPhoto, Charts from TradingView.com

There are currently approximately 100 million blockchain wallets out there. This is an extremely small amount considering that is only 1.28% of the 7.8 Billion people we have on earth. The $2.2 Trillion Crypto market is extremely undervalued. In the future when digital currencies start gaining ground and you count inflation, tens of trillions in…
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Kosovo has banned crypto mining on Tuesday in an effort to reduce electricity use as the country grapples with its worst energy crisis in a decade as a result of electricity disruptions. Kosovo Bans Crypto Mining Operations Due to electricity shortages during the winter season, the government of Kosovo has decided to stop crypto mining in the country. According to a report by local newspaper Gazeta Express, Kosovo’s Minister of Economy, Artane Rizvanolli, has decided to ban crypto mining following a recommendation from the Technical Committee on Emergency Measures for Energy Supply. The government made the decision after Kosovo’s energy supply fell below the required level, and it began imposing electric power cutbacks during high usage hours, according to the article. Law enforcement authorities are expected to intervene to block the manufacture of crypto currencies, and try to locate places where such operations take place. Economy and Energy Minister Artane Rizvanolli said in a statement: “All law enforcement agencies will stop the production of this activity in cooperation with other relevant institutions that will identify the locations where there is cryptocurrency production.” In reaction to the problem, the administration has decided to form a technical committee to evaluate emergency energy supply strategies, according to Rizvanolli. Last week, the government decided to take immediate actions in response to the committee’s recommendations, including prohibiting crypto mining over Kosovo’s borders. BTC/USD still below $50k. Source: TradingView Related article | Could The New “China Model” Be The Reason The Country Banned Bitcoin Mining? Winter Is Coming According to Gazeta Express, the government declared a state of emergency in December for 60 days, allowing it to allocate more money for energy imports and implement power cutbacks. Low supplies from Russia revived fears of an energy shortage as the colder winter approaches, sending European gas prices soaring by more than 30% on Tuesday. One miner, who requested anonymity and owns 40 GPUs (Graphics Processing Units), told Reuters that he spends roughly 170 euros per month on power and makes around 2,400 euros per month from mining. Cryptocurrency mining has become more popular in northercrypto kosovo, which is primarily populated by Serbs who refuse to pay power bills because they do not recognize Kosovo’s independence. The 1.8 million population-strong country now imports more than 40% of its energy, with significant demand in the winter when inhabitants mostly use power for heating. The energy emergency measures may look draconian, but they are the result of years of energy problems in Kosovo, which have manifested themselves in blackouts across the country and have been aggravated by a severe lack of control and a slumping economy. While crypto miners have been able to take advantage of the low-cost energy, crypto mining’s high electricity usage is incompatible with a country that is experiencing widespread power outages and a sector of the country that has only recently began to pay for its electricity. Related article | Why Did China Ban Bitcoin Mining? Here Are The Seven Leading Theories

I am not the one to shill projects but as I was writing a post about interoperability the other day Cosmos surged in price. Cosmos has been one of very few coins to pump like crazy (I am talking 9% to 20% on the daily) while the market experienced huge dips. At the same time,…
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submitted by /u/Burntbubba [link] [comments]

How often has the ethereum network gone down or run into problems (besides gas fees and theDAO)? As much as people like to compare it to SOL, I've read in an article that it has had some network issues in the past but I don't know where to look for where this happened https://river.com/learn/bitcoin-vs-ethereum/ (Keep…
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On-chain data shows Bitcoin open interest has reached dangerously high values, a sign that a leverage flush may be coming soon. Bitcoin Open Interest Rises To High Values As pointed out by an analyst in a CryptoQuant post, the BTC open interest has now reached values where mass liquidations have taken place in the past. The “open interest” is an indicator that measures the total amount of BTC futures positions currently open on derivatives exchanges. The metric accounts for both long and short positions. When the value of the metric is low, it means investors aren’t using much leverage right now. Such values usually result in low volatility in the price of Bitcoin. On the other hand, high values of the indicator suggest that futures contract users are currently using a high amount of leverage. This situation can lead to high volatility in the market as big price swings can result in a liquidation squeeze. Related Reading | Exchange Whale Ratio Suggests Bitcoin Dump Incoming Now, here is a chart that shows the trend in the BTC open interest over the past year: The indicator’s value seems to be on the rise recently | Source: CryptoQuant As you can see in the above graph, value of the Bitcoin open interest looks to be climbing up in the last few weeks. The quant has marked in the chart the previous times the indicator showed similarly high values. It’s clear that at some point after reaching these values, the metric has had a sharp decline. The sudden decrease in the open interest implies that a leverage flush took place at those times. Such a squeeze happens when liquidations cascade together in response to a swing in the price of Bitcoin. During such leverage flush incidents in the period of the chart, the price of the crypto also seems to have crashed alongside it. This means that those previous liquidations mostly involved long positions. Related Reading | Why Did China Ban Bitcoin Mining? Here Are The Seven Leading Theories Since the market seems to be overleveraged right now as hinted by the open interest values, it’s possible a similar liquidation event could take place in the near future. BTC Price At the time of writing, Bitcoin’s price floats around $46.7k, down 5% in the last seven days. Over the past month, the coin has lost 12% in value. The below chart shows the trend in the price of BTC over the last five days. BTC’s price seems to have struggled in the last few days | Source: BTCUSD on TradingView In the past week, Bitcoin seems to have again started consolidating in the $45k to $50k range. It’s unclear at the moment when the coin may escape this sideways movement, but if the open interest is anything to go by, a liquidation event may happen soon. Featured image from Unsplash.com, charts from TradingView.com, CryptoQuant.com