Category: Cryptocurrency News

On-chain data shows Bitcoin exchange whale ratio has started rising, suggesting that a dump of the crypto may be coming soon. Bitcoin Whales Now Account For 90% Of Inflow To Exchanges As pointed out by a CryptoQuant post, the exchange whale ratio has risen above 0.9, implying that dumping may be going on in the market. The “exchange whale ratio” is an indicator that measures the ratio between the total Bitcoin amount of top 10 transactions to exchanges and the total inflows. In simpler terms, the metric tells us how the ten largest transactions to exchanges compare with the total amount of coins moving to exchanges. When the indicator has values lower than 0.85, it means that the ten largest transactions to exchanges (which are assumed to belong to whales) make up for less than 85% of the total Bitcoin inflow amount. Such values have been historically healthy for the market. On the other hand, when the metric reaches high values, it implies the top ten transactions make up for most of the inflows to exchanges. Investors usually move their Bitcoin to exchanges for selling purposes. So, this trend may show that whales are currently dumping as they are moving vast amounts of coins to exchanges. Related Reading | Year 2021 Data Cements Bitcoin As Risk-On Asset Now, here is a chart that shows the trend in BTC exchange whale ratio over the past few months: Looks like the value of the indicator has risen recently | Source: CryptoQuant As you can see in the above graph, the Bitcoin exchange whale ratio has now exceeded values of 0.9. This means that the top ten transactions now make up for more than 90% of the inflows. Whenever the indicator has reached high values recently, the price of the coin has suffered downtrend soon after, as the chart shows. Related Reading | Why Did China Ban Bitcoin Mining? Here Are The Seven Leading Theories This could mean that the current high values of the exchange whale ratio may also prove to be bearish for the price of Bitcoin. BTC Price At the time of writing, Bitcoin’s price floats around $47.3k, down 7% in the last seven days, Over the past month, the crypto has lost 16% in value. The below chart shows the trend in the price of the coin over the last five days. BTC’s price seems to be consolidating again | Source: BTCUSD on TradingView Bitcoin looked to have finally broken out of consolidation some days back, but the crypto has now once again fallen back down into the $45k to $50k price range. It’s unclear at the moment when the coin may beat this stagnation, or which direction it may break in. However, if the exchange whale ratio is anything to go by, more decline in the price of BTC could soon be coming. Featured image from Unsplash.com, charts from TradignView.com, CryptoQuant.com

How do you guys get into airdrops? I’ve heard many different people get in on airdrops and getting some tokens from basically just using a service but how do you do this consistently and where do you hear it from? I want some free cryptocurrency just like everyone else but I have been struggling to…
Read more

It’s has been a little over three months since Cardano’s Alonzo Fork was implemented, but the blockchain is already gaining significant traction among developers.

Every one of us here hold coins and tokens, regardless if they're BTC or a Shitcoin. So many times people on here put people down for being just here for the money. Those same people always have their Reddit vaults open and are farming with passive aggressive comments 10x an hour. "Cociane and hookers" "This…
Read more

Bitcoin’s inability to reclaim the 20-day EMA is a sign that selling in BTC and altcoins remains a threat.

The VeChain Foundation has started 2022 with a potential major announcement. Via their official Twitter handle, the organization hinted at the possible released of a new native stablecoin called VeUSD. Related Reading | VeChain Foundation Welcomes New DEX To Its Ecosystem The Foundation little details on this new product but announced its followers that it’ll be “something special (…). Something that will allow us to take VeChainThor to the next level in multiple ways”. The stablecoin VeUSD will be a tool to “unleash” DeFi capabilities for the VeChain ecosystem. The digital asset, according to the official post, was designed following core principles of this ecosystem: sustainability, versatility, scalability. The blockchain VeChainThor seemed to have been preparing for these new era of DeFi for a while. As NewsBTC reported, 3 months ago this network was upgraded after a community vote approved the implementation of Proof-of-Authority (PoA) 2.0. Designed to support a “new wave of blockchain mass adoption”, according to the VeChain Foundation, the update was supposed to mitigate any tradeoffs on the consensus layer for the blockchain VeChainThor. At the time, the organization said: (…) the VeChain Research and Development teams have been working on a massive upgrade of the VeChainThor blockchain called SURFACE (PoA 2.0), standing for a Secure, Use-case-adaptive, Relatively Fork-free Approach of Chain Extension. In that sense, VeUSD could become one of the first products to leverage the power of this blockchain post the update. VeChain’s Own Stablecoin, Potential Benefits And Concerns The VeChain community celebrated the announcement. Recently, a user called “EffortCapital” proposed the possibility for the Foundation to create an algorithmic stablecoin, such as LUNA with VeThor Energy (VTHO) as collateral. Thus, creating a burning mechanism, similar to the one introduced in Terra with the Colombus-5 upgrade. This mechanism supports a constant demand for the underlying asset and contributes with its appreciation. Proposal for #Vechain Foundation to create an algorithmic stablecoin backed by $VTHO seignorage style (like LUNA). More VUSD demand – > burn VTHO – > value accrual to $VET@PeterZh47977516 @sunshinelu24 — D⚡️ (🏌🏻,⛳️) (@EffortCapital) December 30, 2021 This idea saw interest from Sunny Lu, CEO at VeChain. Via Twitter, he asked the community for a tokenomics design for the potential token. However, not everyone in the community agrees with a stablecoin as the one announced by the Foundation. Some believe VeUSD could change the dynamics in the ecosystem and replaced VTHO, the utility used to power transactions on this blockchain. Other straight out said that the Foundation and the blockchain has “failed to fulfill their core products”. The network has been implemented in supply chains, and other corporate sectors, but is has rarely focused on developing a DeFi ecosystem. This approach seems to be changing, as mentioned, with the new upgrades, the DeFi related products, and the stablecoin. Despite the detractors, most users seem to have taken the announcement as bullish. Related Reading | VET Breaks Major Trend Line, Why VeChain Could See Massive Explosion The Foundation will share more details in days to come, until then everything remains as speculation. As of press time, VET trades at $0.085 with a 1.95% loss in the past day.

submitted by /u/Osama_BinGotEm [link] [comments]

submitted by /u/michaeldave25 [link] [comments]

submitted by /u/_TheWolfOfWalmart_ [link] [comments]

U.S. inflation is red hot and a number of analysts and economists are predicting America will face further economic issues as politicians and the Biden administration blame corporations. This perspective on rising inflation has led finance authors like Isabella Weber to believe that price controls could ease America’s economic burdens. Biden Administration Blames Inflation on […]