I was thinking how great it would be if banks allowed for stakers to collateralize eth positions, but currently there is no way to do so without a redemption token being created for staking, which does not exist for ethereum staking. This could be resolved by the system implementing a 2 of 3 multisignature withdrawal…
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On-chain data shows a recent rise in the number of stablecoin addresses sending to exchanges, suggesting an increase in dry powder supply pumping into Bitcoin. Stablecoins Exchange Inflow Addresses Count Recently Surges As pointed out by a CryptoQuant post, the number of stablecoin addresses making inflow transactions to exchanges saw a sharp rise yesterday. Stablecoins are tokens that have their values tied to a fiat currency. Since they are relatively stable (as their name suggests), investors like to use them for temporarily pulling out of volatile markets like Bitcoin. The “all stablecoins: all exchanges inflow addresses count” is an indicator that shows the total number of these fiat token addresses that are sending their coins to exchange wallets. A spike in the metric’s value means there is an increase in the supply of stablecoins for transferring to other cryptos. This could suggest investors believe now may be a lucrative entrance into volatile markets, and so they are converting their fiat-tied coins to BTC and other cryptocurrencies. They may also be looking to withdraw the coins into fiat. Related Reading | Bitcoin Bullish Signal: Whales Are Building Their Positions On Derivatives Now, here is a chart that shows the trend in the indicator’s value over the last week: The stablecoins inflow addresses count showed a huge spike yesterday | Source: CryptoQuant As the above graph shows, the indicator showed a very large value yesterday, implying that a lot of investors sent their coins to exchanges at that time. The reason behind the trend could be the recent correction that Bitcoin suffered after making its new ATH. Investors may be bullish on the future price of the coin and find that this dip is a good buying opportunity. One that thing should be noted is that not the entire stablecoins supply moving into exchanges will be pouring into Bitcoin. A percentage of them will go into altcoins and another will be withdrawn into fiat or kept on exchanges. Related Reading | Is China Considering Lifting The Bitcoin Mining Ban? The NDRC Runs Public Survey Nonetheless, a surge in the total supply is still a good sign for BTC and may help the coin bounce back from the correction. Sustained such inflows can prove to be bullish and take the crypto to higher all-time highs (ATHs). Bitcoin Price At the time of writing, BTC’s price floats around $63k, up 4% in the last seven days. Over the past month, the crypto has gained 48% in value. The below chart shows the trend in the price of the coin over the last five days: BTC’s price observes a correction in the last few days, but now looks to be making a come back | Source: BTCUSD on TradingView Featured image from Unsplash.com, charts from TradingView.com, CryptoQuant.com
On Sunday, Elon Musk discussed his relationship with the Dogecoin Foundation and he mentioned a few improvements he’d like to see implemented via Dogecoin Core’s codebase. Meanwhile, Github metrics show developers have been working on Dogecoin Core during the last few months and it seems Dogecoin software engineers are prepping the network to address fees, […]
There are multiple realistic options for Satoshi, including Hal Finney, Dorian Nakamoto, Nick Szabo, a group of coders, or some other anonymous legend. Then you have the "other" options like Craig Wright (lol) who sues anyone that claims he is not Satoshi. But I pose the question to you all, what would be funniest outcome?…
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(Thanks to /u/Liberosist for the inspiration to start writing and reviewing this post) Scrolling through crypto Twitter and Reddit, the Merge is often compared to three Bitcoin halving (usually referred to as the triple halving), it’s not a bad comparison but the triple halving is only a small part of the changes the Merge will…
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I am building a mobile app that shows ethereum in-chain data like gas fee/staking reward/#daily transactions/etc and has various tools related to ethereum. Which is better name for the app? View Poll submitted by /u/steadyaction [link] [comments]
"This is one of the earliest Bitcoin quotes in existence. The founder of Bitcoin, Satoshi Nakamoto, saw before everyone else what Bitcoin was capable of. In those early days, however, not many could imagine the potential of this new currency. Today, his invention has completely changed the world and it’s safe to assume that those…
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In the anticipation of ETH2, I saw that you can stake via Ankr using WalletConnect. Unfortunately, there is a phishing/scam application on GooglePlay, also named WalletConnect. I wanted to post this as a PSA to prevent others from falling for this. I'm seeing heavy activity for two main ETH wallets that funds are being sent…
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submitted by /u/jayjitsuNYC [link] [comments]
submitted by /u/Flappydoge42069 [link] [comments]
