ConsenSys acquires MyCrypto to 'improve the security' of its products
MyCrypto and MetaMask will be combining technology and teams to build the ideal wallet. The terms of the deal were not disclosed.
MyCrypto and MetaMask will be combining technology and teams to build the ideal wallet. The terms of the deal were not disclosed.
I currently have $10 worth of Eth in my wallet, but using etherscan, I see that the amount is 0. I just created my wallet today to test things out and to receive payments in Eth a few days from now. Can this address receive Eth? Am i doing something wrong? Or is the account…
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On-chain data shows that the Bitcoin supply on exchanges has continued to go down despite the crash, and has now hit a multi-year low of 13.27%. Percentage of Bitcoin Supply On Exchanges Sinks To Multi-Year Low As per the latest weekly report from Glassnode, the percentage of the BTC supply on exchanges has now declined to a multi-year low of around 13.27%. The “percentage of supply on exchanges” is an indicator that measures the percent of the total circulating Bitcoin supply that’s currently stored in exchange wallets. When the value of this indictor goes up, it means the amount of coins held by exchanges is going up. This trend can be bearish for the price of the crypto as investors usually deposit their BTC to exchanges for selling purposes. On the other hand, when the metric moves down, it implies holders are withdrawing their coins from exchanges, thus reducing their reserve. Such a trend may be bullish for Bitcoin as the supply on exchanges is usually considered the selling supply, and it going down would mean there is lesser sell pressure in the market. Related Reading | Why Bitcoin Could Hit $90K By The End Of 2022, According To This Prediction Now, here is a chart that shows the trend in the percentage of BTC supply on exchanges over the past year: Looks like the value of the indicator has been on a downtrend for a while now | Source: The Glassnode Week Onchain – Week 5, 2022 As you can see in the above graph, the percentage of the Bitcoin supply on exchanges has now hit a multi-year low of 13.27%. It seems like the indicator has continued on a downtrend despite the struggling price of the crypto recently. Since the all-time high in November, the metric has decreased by about 0.28% as 42.9k BTC has exited exchanges during the period. Related Reading | This Bitcoin Volatility Index Pattern Suggests A Short Squeeze May Be Near This trend has been different from what happened following the crash in May of last year. There, the exchange supply rose up and sustained at high values for a while until the price started moving back up again. The current reducing exchange supply shows investors may be in a state of accumulation, which could be bullish for the price of Bitcoin in the long term. BTC Price At the time of writing, Bitcoin’s price floats around $38.5k, up 6% in the last seven days. Over the past month, the crypto has lost 17% in value. The below chart shows the trend in the price of BTC over the last five days. BTC’s price seems to have held steady above the $38k price mark in the last few days | Source: BTCUSD on TradingView Featured image from Unspash.com, charts from TradingView.com, Glassnode.com
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Solana was trading close to 15% higher on Tuesday, as crypto markets were mostly in the green to start February. This comes as markets look set to move past January’s red wave. Biggest gainers Cryptocurrency markets were mostly bullish during Tuesday’s session, with several projects seeing their value rise to start the new month. One […]
Does anyone know how I can I obtain USDT on the Goerli Network? submitted by /u/Meanmanjr [link] [comments]
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I’ve seen a lot of opinions thrown out here, whether you should or shouldn’t tell your family, friends, neighbours about crypto. The general consensus of this subreddit is always: “DCA and HODL!” Yes, the past already proved that it’s one of the best if not the best strategy out there. But do we really need…
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Bitcoin has seen more greens in the last day as it climbs its way back above $39,000. As of press time, BTC’s price was rejected at those levels, but the bulls are showing some conviction and could push further into previous highs. Related Reading | TA: Bitcoin Near Crucial Juncture: Why BTC Could Surge Further The first crypto by market cap, at the time of writing, is exchanging hands at a price of $38,654 with a 4.2% profit in 24-hours. In the short term, bulls seem to have the upper hand as market conditions are favorable of a short squeeze. As NewsBTC reported yesterday, the macro-economic factors pushing down Bitcoin will abate for the coming weeks potentially aiding a relief rally into mid-March. In a recent report, Glassnode identifies a shift in bias from market participants from a majority of long positions during Q4, 2021, to mostly short in January 2022. Despite the recent downtrend, the Open Interest (OI) across the Futures sectors has increased and sits at a nearly two-year high. Glassnode claims the Futures sector has been seeing a decrease in its trading volume since 2021 standing close to $60 billion a day as Bitcoin reached the low $30,000s. In the meantime, OI records a 1.3% of BTC total market cap which could suggest a deleveraging event is in the making. In other words, whenever Bitcoin reaches an OI above 1% of its total market cap, BTC’s price is quickly propelled into either direction. As seen below, BTC could either experience a long or short squeeze, but the latter seems more likely due to the shift in traders’ bias. Glassnode added: With high negativity, elevated leverage, and an overall short bias, a reasonable argument could be made for a potential counter-trend short squeeze in the near-term. Bitcoin Heading To $30K? Volatility Incoming In high timeframes, Bitcoin’s revisit of previous highs around $40,000 could be short-lived as the market expects the U.S. Federal Reserve (FED) to hike their interest rates by March 17th. Around those times, the crypto market could see more downside back to the low $30,000s or below these levels. Related Reading | TA: Ethereum Rallies 10%: Why More Gains Seem Possible Data from Material Indicators (MI) records a slight change in Options flows with a lot of sold puts for BTC at $25,000 by the end of February. This could suggest BTC would find a solid bottom above these levels, in case of further downside as market participants are getting of their option positions below them. MI said: Last time (July, 2021) we tagged all bearish order flow levels. It’s only 1 observation, but that would put us at 30k daily close before we reverse if it were to happen again. Not sure if we’ll see a repeat.
The crypto asset and exchange-traded fund (ETF) manager Wisdomtree has revealed the company is launching a new digital wallet called Wisdomtree Prime, which will allow users to hold crypto assets, blockchain-enabled funds, tokenized versions of commodities like gold, and access to stocks or bonds based on Wisdomtree’s indexes. Wisdomtree to Launch Prime Wallet in Q2, […]