Despite the “success” of some play-to-earn video games like Axie Infinity, there is still a long way to go for NFT’s games to be mainstream. The main problem I see is they are “NFT’s Games” instead of “Cool games with NFT’s”. Companies should focus on achieving a fun gameplay to get more people to play…
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submitted by /u/Michellerose6834 [link] [comments]
submitted by /u/TobiHovey [link] [comments]
BTC and ETH reversed course as both assets search for underlying support, suggesting that bears are attempting to trap over-leveraged bulls.
In somewhat 1970-2000 cold war there was a plan to take out all russian electricity by exploding atomic bomb over pacific ocean(or i cant remember) which would cut off all communications and so on, near and in russia. Question here – wouldn't disturbing half of world's magnetic field cut off all ETH wallets? (Not 100%…
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I don't understand. I do a lot of reading/browsing here and the posts and comments that some of you leave aren't really any more informative or groundbreaking than the posts or comments left by a lot of the no-mooners. Is there something I'm missing here? I've tried the moon faucet thing but that only trickles…
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submitted by /u/Evening-Discount185 [link] [comments]
One thing I have learned about crypto is that you'll likely find deals at the unlikeliest places. I have missed the crypto train [sob]. I used to have $600 back in 2015 and was suggested to buy BTC by my friends. Sadly I decided to by a new laptop instead (which broke years ago). Today,…
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Other social media platforms including Twitter and Facebook have been working to support NFTs, if not create a competitor to major marketplaces.
On-chain data shows whales are sending their Bitcoin from spot exchanges to derivatives, indicating that they are building up their positions. Bitcoin Whales Build Up Their Positions On Derivative Exchanges As pointed out by a CryptoQuant post, Bitcoin whales seem to be moving their crypto from spot exchanges to derivative exchanges. The relevant indicator here is the “all exchanges to derivative exchanges flow mean,” which shows the total amount of coins being transferred from spot exchanges to derivative exchanges. When the value of this metric shows continuous high values, it means a lot of Bitcoin is being regularly moved to these derivative exchanges, which may hint that whale activity has been going on. Low values would imply not many coins are moving in this direction, and could either be staying still, or be rather going the opposite way: from derivatives to spot. Now, here is a chart that shows the trend that this indicator has followed over the last couple of years: The BTC all exchanges to derivatives flow mean vs the price | Source: CryptoQuant The above graph has different regions marked based on whether whales seemed to be accumulating at that time or not. Related Reading | Despite New ATH, Bitcoin Exchange Reserves Continue To Decline The green regions were when the price was mostly moving sideways and the indicator had the whales sending a lot of BTC to derivatives. Following these periods of accumulation, the price had always shown a jump up during the period of the above chart. However, once the indicator’s value became very low, BTC’s price has seemed to have made a top after which its value dipped down. Related Reading | Lucky Buyers Possibly Bag $8K Bitcoin During Early Morning Flash Crash Now, as is apparent in the graph, the current trend makes it look like whales have just started another phase of accumulation. This could turn out to be bullish for the future price. BTC Price At the time of writing, Bitcoin’s price floats around $61.5k, up 2.7% in the last seven days. Over the past month, the crypto has accumulated 42% in gains. The below chart shows the trend in the price of the coin over the last five days: BTC’s price seems to be rapidly plunging down | Source: BTCUSD on TradingView After setting a new all-time high (ATH) of $67k, Bitcoin has been sharply going back down in the past couple of days. It’s unclear at the moment which trajectory the coin might follow next, but if the spot to derivatives flow mean is anything to consider, whales seem to be accumulating. This could help the price bounce back up and set it up to reach higher ATHs. Featured image from Unsplash.com, charts from TradingView.com, CryptoQuant.com
