Data suggests traders view $46,000 as Bitcoin’s final line in the sand
BTC and altcoins took a severe hit on Dec. 13, but derivatives data suggests traders are watching $46,000 as a signal of whether the current market structure will hold up.
BTC and altcoins took a severe hit on Dec. 13, but derivatives data suggests traders are watching $46,000 as a signal of whether the current market structure will hold up.
While the crypto economy has tumbled in value during the last two weeks, the managing partner at Multicoin Capital, Kyle Samani, recently shared his views on why he thinks the “next bear market will not be like the last one.” In fact, Samani remarks that there may not even be “a bear market at all.” […]
I am aware of the various practical uses for NFTs but I am surprised by how many people are willing to invest in NFT art. For those of you who have bought into an NFT art collection, what are some of the reasons you did so? submitted by /u/KhanDescending123 [link] [comments]
submitted by /u/MinimalPuebla [link] [comments]
submitted by /u/dzoidarkness [link] [comments]
Wanting to spread my mined RVN around a bit, and was thinking to do it weekly. I now realize that depending on coin/token, I get absolutely destroyed by fees when doing a wallet to wallet exchange via changenow. Is there a smart way to diversify mining gains? I manage about 1500 RVN per week on…
Read more
Alright serious question. How the fu*k are you guys mining RVN especially on LHR cards. I have a 3080 LHR card mining ETH and RVN with the GDDR6 memory running 88-90 degrees Celsius. Is that safe long term? Btw That’s already with power limit down to 70% and fans at 80%. submitted by …
Read more
The Bitcoin NUPL indicator shows the market is currently testing a key support level that may be a junction between bullish and bearish trends. Bitcoin NUPL Shows Market Currently Stands At Key Support Level As per the latest weekly report from Glassnode, the NUPL shows that the market has entered a key zone that can decide whether the following trend will be bullish or bearish. The Net Unrealized Profit/Loss (NUPL) is an on-chain indicator that measures the difference between the unrealized profit and loss to check whether the market as a whole is currently in a state of profit or loss. The metric measures this by looking at what price each coin on the chain was bought at, and comparing it with the current price. When the value of the indicator is below zero, it means the overall Bitcoin network is in a state of profit at the moment. On the other hand, when NUPL assumes values above zero, then the market is, on an average, having unrealized gains. Related Reading | Weekend Volatility Awakens Bitcoin Buyers, Active Addresses Now, here is a chart that shows how the value of this Bitcoin indicator has changed over the past year: Looks like the overall market is currently in a state of profit | Source: The Glassnode Week Onchain (Week 50) As you can see in the above graph, there is a highlighted zone around the NUPL value of 0.5. At this value, 50% of the Bitcoin market cap is in the form of unrealized gains. Related Reading | Goldman Sachs CEO Sidesteps Bitcoin Inquiries, Says Blockchain Is More Important The report describes this zone as a historical battleground between the bulls and the bears. During periods of bearish trend, this zone usually provides resistance, while in times of bullish sentiment, the zone would act as support. Now as the chart shows, the indicator seems to be touching this zone again. This type of retest has already happened a few times in the past few months, and the bulls stood strong during those. Back during the May crash, however, the support didn’t last and the indicator shot below the zone. Afterwards each touch of the zone sent the price back down. It’s possible that the market might hold support here as well just like the last few retests. But it’s not set in stone; any transition down here could be bad for the coin’s price, just like how it was in May. BTC’s Price At the time of writing, Bitcoin’s price floats around $46.9k, down 8% in the last seven days. The below chart shows the trend in the price of BTC over the last five days. BTC’s price once again plunges down | Source: BTCUSD on TradingView Featured image from Unsplash.com, charts from TradingView.com, Glassnode.com
Polygon is bringing an upgrade to its network with a testnet release known as the Mumbai test network, similar to the EIP-1559 update on the Ethereum network. EIP-1559, was activated on Ethereum Blockchain during the London hard fork, which took place on August 5, 2021. The update introduced the burning of transactions fees depending on…
Read more
XDC Network has several benefits over Ethereum Network, including near-zero transaction costs, 2000 TPS at 2-second settlement, and reduced energy consumption. To enable hybrid relay bridges with immediate block finality and compatibility with ISO 20022 financial communications standards, eXchange inFinite (XinFin) has built the XDC Network. With the XinFin Network’s DEX support for XRC20 tokens, many new projects may join the market immediately after development. Let’s look at two new XDC Network DEX, GlobianceDex, and XSwap. Globiance DEX Globiance DEX, released on December 8, 2021, is the first automated market maker (AMM) on the XDC blockchain. In addition to offering Swap, GlobianceDex allows users to earn tokens and use the crypto trading advantages of DEX built on XinFin Network. The Globiance community may add additional tokens to the Globiance DEX default token list. Users may provide feedback through Github, and the development team will respond. Users may trade any token while waiting for the token to be evaluated. Users just put the custom token address in the token list and click “Add” to trade. Once a token is approved, it is added to the default token list, and its pools and trading are available to anyone. On XDC Network, there is XDC native currency (XDC), WXDC (wrapped XDC), GBEX (Globiance native token), and USDG (globiance stable coin). SRX – StorX Network utility Token, and all the coins mentioned above are now available on GlobianceDEX. XSwap Based on the XDC Network, XSwap is a decentralized open-source exchange for XRC20 tokens. Similar to Ethereum in Uniswap AMM, the XDC coin will be utilized in the XDC Swap as an interlink. XSWAP is an AMM system that depends on user-generated liquidity pools to support crypto exchanges. Liquidity providers will freeze their XRC-20 tokens in pools to collect LP rewards. Making farming the most basic passive income option for crypto enthusiasts of all levels. XSWAP will also feature a native staking module. The staking module allows users to pump liquidity into a single coin, unlike liquidity farming. XSwap also offers a developer-friendly blockchain with Github resources and documentation. This simplifies difficult blockchain activities and speeds up the developer experience. With modules for token contract generation, airdrop launch, and multipurpose crypto service platforms, the MyWish platform further simplifies smart contract development for XDC Network. The latest developments on XDC Network show the phase of the fastest-growing XDC Ecosystem. The price of XDC is 0.071 USD at the time of writing as per the CoinmarketCap. Image: Pixabay