The founder of Africa-focused media and investment company Footprint to Africa, Osita Oparaugo, has urged governments on the continent to embrace cryptocurrency. Africa Must Not Be Left Behind Osita Oparaugo, founder of Footprint to Africa, has argued that a timely embrace of cryptocurrencies by African governments would be beneficial to the continent’s growth prospects. In […]
Unfortunately these days I don't have alot of time to scroll reddit or this sub for that matter for crypto news. That being said im just seeing loopring everywhere including r/superstonk and wsb forum so what am I missing? Is this coin somehow affiliated with games top etc and if so how is it being…
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“The idea of having a tokenized dollar that is capable of being exchanged on a peer-to-peer basis on a platform where developers can innovate and develop new products and services… I think there’s a strong case for that,” said Pat Toomey.
Decentralized finance is exploding. Its security is not. Here’s how to prevent millions more lost in DeFi.
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Hi, I have been mining for about 3 months and have accumulated around 2700 RVN with just my 3070. I wish to purchase more RVN but because I live in Canada some exchanges like Binance is not an option for me. I have never really purchased any type of crypto and want the cheapest way…
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The Bank of England estimates that 20% of retail and consumer deposits could potentially move toward CBDCs.
Rainer is a 40-year-old contemporary artist from Estonia, battling cystic fibrosis. At most, he's got 5 active years of life left. He's been painting for only a couple of years but his works are awe-inspiring, each one takes over 200 hours to complete. We've recently digitized and minted 10 of his oil paintings on Solsea…
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It's super annoying that Facebook did this because they are basically trying to make their company synonymous with technological revolution that they had no part in. The Metaverse is the next level of interaction with information. It used to be word of mouth was how you learned, then we had written language, then radio /…
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Data shows around 15% of the total Bitcoin supply is now in loss, a value that has historically been sufficient to push the price down. Percentage Of Bitcoin Supply In Profit has Fallen Down To Just 85% As per the latest weekly report from Glassnode, the total BTC supply in profit has fallen down to just 85% this week, meaning that 15% of the supply is now in loss. The “percent supply in profit” is a Bitcoin indicator that highlights the share of the total supply that’s currently in profit. The metric works by looking at what price each coin in the chain was last moved at. If this price was less than the current price, then the coin is said to be in profit. While if this price was higher, then the coin is considered to be in loss. If the indicator attains very high values (more than 95%), then a Bitcoin market top may follow soon. But if the metric’s values are low enough (less than 5%), then a bottom could be formed instead. Related Reading | IMF Report On El Salvador Is Positive… Except For Everything Bitcoin-Related Now, here is a chart that shows the trend in the value of the percent BTC supply in profit over the past year: Looks like only 85% of the BTC supply is now in profit | Source: The Glassnode Week Onchain (Week 47) As the above graph shows, the percent supply in profit has severely fallen off in the past week as Bitcoin’s price declines. Now, around 15% of the total supply is in loss. The report mentions that the 85%-90% zone may be considered as a “bull and bear transition zone.” There are two instances of the indicator entering this zone previously in the chart. Related Reading | Inverse Signals: Why Bitcoin Weakness Is Attributed To Dollar Strength The first was when the May Bitcoin crash happened, and the second coincided with the El Salvador Day crash. The report notes that a value of 85% is enough to push the price of the crypto down if no higher value is clamed in a reasonable timeframe, similar to what happened during those instances. BTC Price At the time of writing, Bitcoin’s price floats around $56.8k, down 6% in the last seven days. Over the past month, the coin has lost 5% in value. The below chart shows the trend in the price of BTC over the last five days. BTC’s price slides down in the last few days | Source: BTCUSD on TradingView Over the last week, Bitcoin has mostly consolidated below the $60k price mark. Currently, it’s unclear when the coin may recover, but if the percentage of supply in profit is anything to consider, BTC may decline even further. Featured image from Unsplash.com, charts from CryptoQuant.com, TradingView.com
