This post just appeared 10 minutes ago in the sub and gave a promotion link talking about the benefits of free NFTs. Here's what they said in a recent tweet: WITH THE BEGINNING OF 2023, a large-scale distribution of NFT from Adidas will start in conjunction with CRYPTOPUNKS!! US residents 21+ older required to participate.…
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Solana was up by almost 8% on Tuesday, as the token rose for a fifth consecutive session. Recent moves have come despite the Christmas and New Year period, where market volumes were somewhat muted. Cosmos was also in the green, as prices rose to a multi-week high. Solana (SOL) Solana (SOL) was one of the […]
Two unidentified parties are planning to act as sureties for Sam Bankman-Fried’s bail, and his legal team wants to ensure they stay that way.
I know this term gets thrown around lightly, an off the cuff insult. But I genuinely think Safemoon's followers are in a cult. And to be honest, I think Safemoon themselves have played a part in fostering this mentality amongst their holders. But how the fuck did we end up here?! First of all, how…
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Today, information appeared on the official adidas Twitter account that there will be a distribution of more than 10,000 NFT. A very interesting advertising trick from Adidas. Let's see what happens. I have heard from other users that their starting price will be around 0.05 ETH. Over time, their cost will only grow. Here's what…
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Known to be one of the oldest cryptocurrencies in the world, Litecoin (LTC) has been making headlines as it reported record high transaction numbers. According to the altcoin’s official Twitter account, it has serviced 39 million transactions as of December 29. Add on to this the accompanying news that it has also hit second place in the unique addresses metric which grew to 52 million. These very bullish developments led to the token pumping 7% in the weekly timescale, according to Coingecko data. The Litecoin Network completed over 39 million transactions in 2022. A new record! ⚡$LTC⚡ pic.twitter.com/DXbnuur2tI — Litecoin (@litecoin) December 31, 2022 2022 Leaving Marks – Will 2023 Be A Healing Year? The current developments are certainly bullish, but this didn’t come without a cost. Like the broader crypto market, LTC’s value has definitely suffered. According to CoinGecko, the altcoin dropped in value by 50.4% on the yearly timescale. However, the new year seems to bring a renewed sentiment for LTC. A Reddit post regarding the altcoin’s 139,000,000th transaction quickly summarizes the sentiment surrounding the old altcoin; bullish and very appreciative of what the coin brings to the table. Litecoin added 52 million new addresses to the network in 2022. The second most of any crypto. #YearInReview pic.twitter.com/p5jAr9wZI0 — Litecoin (@litecoin) December 30, 2022 Litecoin, compared to smart contract providers on Ethereum, is commonly used as a payment method on Bitpay, the oldest cryptocurrency processor in the market. In just one year, monthly Litecoin use, with the worlds largest crypto processor, increased 109% 🚀 pic.twitter.com/DBXe6OTdib — Litecoin (@litecoin) January 2, 2023 Between August 2021 and November 2022, payments using LTC increased by 109%, from 3,478 to 24,207. Transaction share of the altcoin on the payment platform is at 27%, almost trumping the other altcoins available on the platform. Bitpay and the community cited multiple reasons as to why adoption of the coin as a payment method grew but one metric stands above all: runtime. Nearly 100% Runtime For Litecoin Since Inception LTC has overwhelming advantage in the runtime department compared to other altcoins. This certainly attracted investors and traders on the trust issue, the most important social metric a cryptocurrency can have. Related Reading: Solana Up 13% Since Yesterday, A Sign Of Brighter Things to Come? LTC total market cap at $5.3 billion on the daily chart | Chart: TradingView.com According to Jameson Lopp, CTO and Co-Founder of Casa HODL, LTC’s runtime in the past 10 years has been near 100%. Quite a feat for an altcoin released 11 years ago. With adoption increasing and a new bullish sentiment formed on LTC, the coin is expected to have a reinvigorated price in the coming months. Related Reading: SushiSwap Head Chef Suggests Cooking Up New Token Model – Will The DEX Survive 2023? With LTC’s halving coming this year, we should see the altcoin’s price increase in the next coming months as well. Short-term, analysts think that LTC will break towards $100. But LTC faces significant resistance at $76.48 and $77.98 price resistance levels. If the bullish sentiment and the current steady momentum continues, we’ll see LTC in that price level in no time. -Featured image Fool.com
Congratulations on surviving 2022. Now, in 2023, it is time to look ahead and find a new hope. And who is better to do that than some of our finest social media moonboys and moongirls? I've scavenged the internet and found their best new hopium charts. I will present them below. Why is this meaningful?…
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Data from Santiment reveals both Bitcoin and Ethereum currently lack the trading volumes to justify their market caps. Bitcoin And Ethereum NVT Ratios Are Both Bearish Right Now According to the on-chain analytics firm Santiment, both the bitcoin and ethereum networks will need to see a pickup in activity this year. The relevant indicator here is the “Network Value to Transaction” (NVT) ratio, which measures the ratio between the market cap of any crypto and its transaction activity. Usually, the trading volume is considered as the transaction activity of a coin, but Santiment’s NVT ratio works differently. Instead of dividing the market cap by the volumes, this version of the metric makes use of the “daily circulation,” a measure of the total number of unique coins that have seen some movement in the past day. The advantage of the circulation indicator is that transactions, where the same coins jump through several wallets, are only counted once towards the measurement, while the normal trading volume metric would have counted them as many times as they were transferred. This helps eliminate duplicate transactions and gives a more accurate idea about the market activity. Now, what the NVT ratio tells us is how the market cap of Bitcoin or Ethereum currently compares against the activity on the respective networks. High values of the metric suggest the volumes are much lower than the cap right now, and hence the coin may be overvalued at the moment. On the other hand, low values suggest the price may be undervalued. Related Reading: Litecoin Whale Withdraws $32M In LTC From Binance, Good Sign For Rally? Now, here is a chart that shows where the NVT ratio has been valuing Bitcoin and Ethereum during the past few years: The value of the metric seems to have been bearish for both the coins recently | Source: Santiment As the above graph shows, the NVT ratio has been bearish for Bitcoin since August 2022. This means that in the last few months, the circulation on the BTC network has remained pretty low when compared to the market cap of the crypto. For Ethereum, the indicator’s value had been switching between bearish and bullish throughout 2022, but the coin seems to have ended the year being overvalued as the circulation was bearish in December. Related Reading: Bitcoin Taker Buy/Sell Ratio Can’t Give Any Clear Signals As Demand Remains Low If the cryptos continue to be overvalued according to the NVT, then a correction may be imminent for them. “The circulation rate of both networks need to pick up in 2023, and this week will be telling as non-holiday days begin,” explains Santiment. BTC Price At the time of writing, Bitcoin’s price floats around $16,700, down 1% in the last week. Looks like BTC has surged in the last couple of days | Source: BTCUSD on TradingView Featured image from mana5280 on Unsplash.com, charts from TradingView.com, Santiment.net
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Cameron Winklevoss, co-founder of the cryptocurrency exchange Gemini, published an open letter to Digital Currency Group (DCG) CEO Barry Silbert on Jan. 2, 2022, stating that it had been 47 days since withdrawals from Genesis had been halted. In the letter, Winklevoss claimed that DCG owes $1.675 billion to Genesis. Silbert, however, responded on social […]
