Category: Cryptocurrency News

Cryptocurrency News and Public Mining Pools

Calling all DEVS! Use your Github to earn badges and rewards

We're building a privacy-preserving proof of reputation protocol (https://id.youcoin.org) – our first use case is for devs to prove their experience to others (e.g. an employer) anonymously using zero knowledge proofs 🙂 ​ We've also open sourced this project – would love for you guys to test it out and share your honest feedback! ​…
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Bitcoin & Top Assets See High Loss Taking, Is This Bullish?

On-chain data shows Bitcoin and the other top assets are observing a high amount of loss-taking currently. Here’s what this could mean. Investors Of Bitcoin & Other Top Coins Are Capitulating Currently According to data from the on-chain analytics firm Santiment, the current trader capitulation that the largest assets in the market are seeing may be a bottom signal. The indicator of interest here is the “ratio of daily on-chain transaction volume in profit to loss,” which, as its name already implies, tells us how the profit-taking volume for any given coin compares with its loss-taking volume right now. When this metric has a positive value, it means that the profit-taking volume is higher than the loss-taking volume currently. Thus, such a trend implies that the market as a whole is harvesting profits at the moment. On the other hand, the indicator having negative values suggests loss taking is the dominant behavior among the traders of the cryptocurrency in question right now. Related Reading: Bitcoin Prediction: Crypto Analyst Forecasts New ATH by 2024 – Can It Happen? In the context of the current discussion, the assets of relevance are Bitcoin (BTC), Ethereum (ETH), XRP (XRP), Litecoin (LTC), and Cardano (ADA). Here is a chart that shows the trend in the ratio of transaction volume in profit to loss for these assets over the last few months: Looks like the value of the metric has been negative for all these assets in recent days | Source: Santiment on X As displayed in the above graph, the indicator’s value for all these top assets has dipped inside the negative territory recently. This high loss realization from the investors has come as the market as a whole has been unable to amass together any significant rally. From the chart, it’s visible that these assets have seen the investors capitulate at different points throughout the year, but the current capitulation event has an interesting feature that was missing from these previous instances: the loss-taking is currently happening for all these large cryptocurrencies. It would appear that traders as a whole have finally started to give up on the market after experiencing endless consolidation, as they are ready to take losses in order to make their exit. The scale of the loss-taking itself is also extraordinary, as the only other time this year that the loss volume overtook the profit volume to this degree was way back in March. Historically, capitulation from investors has made bottoms more probable to form. And from the above chart, it’s visible that the March capitulation also leads to Bitcoin hitting a bottom. Related Reading: Bernstein Predicts Spot ETFs Could Claim 10% Of Bitcoin’s Market If Greenlit The likely reason behind this pattern is that the investors who exit in losses are generally the weak hands, who had a low conviction in the asset, to begin with. In capitulation events, the coins that they sell at losses are picked up by the more resolute investors, and hence, the market gains a stronger foundation for building up rallies. It’s possible that the high loss taking that Bitcoin and the others are experiencing currently may also lead to a bottom, if the historical precedence is anything to consider. BTC Price At the time of writing, Bitcoin is trading around $29,100, down 2% in the last week. BTC continues to move inside a narrow range | Source: BTCUSD on TradingView Featured image from Art Rachen on Unsplash.com, charts from TradingView.com, Santiment.net

From $250,000 Investment to Dogecoin Millionaire: The Glauber Contessoto Story

Today I learned about Glauber Contessoto, a 33-year-old who made headlines with his investment journey in Dogecoin. Back on February 5, 2021, when Dogecoin was valued at around 4.5 cents, he boldly invested over $250,000 in the cryptocurrency. Just two months later, by April 15, his investment had skyrocketed, turning him into a Dogecoin millionaire…
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I analyzed all 500 responses from yesterday’s post “What’s your biggest regret from the 2020/2021 bull market?” to keep us from getting rekt next cycle

A lot of this is common sense, but the fact that it came from us collectively will hopefully make it more powerful and top of mind next time. Method: Capture the 500 comments into a spreadsheet Filter the top level comments from the sheet Ask ChatGPT to identify patterns in the responses and count the…
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Is An XRP Spot ETF Coming To The US Soon? Bloomberg Analyst Answers

Ripple has continued to revel in the glow of Judge Analisa Torres’ ruling in favor of the crypto company, with many use cases being touted for its native token XRP. The most recent use case to surface is a Spot XRP ETF, and Bloomberg analyst James Seyffart has quickly weighed in on the possibility of this happening.  How Possible Is A Spot XRP ETF? Seyffart, during an appearance on Tony Edward’s Thinking Crypto Podcast, explained that XRP would need to be listed on the Chicago Mercantile Exchange (CME) before the SEC can approve a Spot XRP ETF.  Related Reading: Institutional XRP Holdings Rise Rapidly Following Ripple’s Win Over SEC This argument stems from the SEC’s requirement for a regulated market of significant size in the underlying asset. Relatively, exchanges looking to list a Spot Bitcoin ETF are, in hopes of gaining approval, relying on the fact that the CME Bitcoin futures, which happen to be a regulated market, provide significant size to provide necessary data and insights for any spot market.  So Seyffart also believes that any Spot XRP ETF application will also need to fulfill the requirement of the token having a significant market size that can be used to provide any data and insights needed to prevent fraud and market manipulation. To achieve this and easily get the SEC’s approval, listing XRP futures on a prominent derivative exchange like CME would be the way to go, in his opinion.  Despite his remarks, Seyffart isn’t so optimistic about a Spot XRP ETF launching anytime as, according to him, this isn’t something he sees “materializing in the foreseeable future.” Token price continues to fall as euphoria wanes | Source: XRPUSDT on Tradingview.com Little Or No Demand Is A Hindrance Another notable highlight from Seyffart’s remarks was when he suggested that there was little or no demand for an XRP ETF, something which he believes is integral if we are to see any ETF application.  However, there is reason to believe this assumption may not be outrightly correct, as certain figures suggest an increasing demand for XRP, notably among institutional investors.  Related Reading: Renowned Finance Author Says Bitcoin Price Will Reach $1 Million If This Happens Last month, a report stated how XRP’s sales had jumped significantly this year, with over 2.22 billion XRP sold since the beginning of the year. Furthermore, according to a more recent report, the token recorded an institutional inflow of $0.5 million two weeks ago. Ripple’s XRP Ledger is also going head to head with the foremost Bitcoin and Ethereum networks, as it has recorded an increase in daily transactions since the beginning of August. This record has seen it surpass market leader Ethereum in terms of daily transactions conducted on both networks.  Featured image from iStock, chart from Tradingview.com

AllBridge Cross-Chain Bridge Security Audit

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How to Add Reddit MOON to MetaMask

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PayPal wants your feedback on its new stablecoin, and is offering generous incentives for completion of the brief PYUSD Survey, including entry into a $750,000 PYUSD prize draw

PayPal wants your feedback on its new stablecoin, and is offering generous incentives for completion of the brief PYUSD Survey, including entry into a $750,000 PYUSD prize draw PayPal stablecoin Designed for payments. 1 USD : 1 PYUSD on PayPal Introducing the new cryptocurrency, PayPal USD (PYUSD).1 It’s a stablecoin backed by secure and highly…
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Are you know the businesses that accept Ether as a payment?

Hello everyone, I'm a representative of a company that listing businesses that accept payments in crypto, especially Ether. We're on the hunt for more places that are into Ether transactions. If you know some businesses that accept Ether or even run one, let's chat! submitted by /u/BitcoinWide [link] [comments]

Reddit IPO affecting MOON

Does anyone have insight into how a potential IPO of Reddit will affect moons? With the growing attention and multitude of possible use cases for a crypto that is a part of the platform, it’ll be unlike any other major IPO. I’d feel quite bullish on a public Reddit stock, but I also see how…
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