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Binance futures & spot signals

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Binance futures & spot signals

The percentage of Bitcoin's (BTC) circulating supply that was last active on-chain at least a year ago has reached a record high of 70.35%, surpassing the previous peak of 69.35% in July, according to data tracked by blockchain analytics firm Glassnode.

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Binance futures & spot signals

AVAX analysis:

Price breaks above the resistance area but cannot hold above this level. We may see another test of the resistance area and let's see if the price can break above this level.

Support Area: $17.50-$18.10

Resistance Area: $21.30-$21.70

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Binance futures & spot signals

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Binance futures & spot signals

NEO analysis:

Price rejected from the major resistance area and unable to hold the first support level. We will see a move towards the next support level and this is the zone where you can open new long positions.

Support Area: $9.00-$9.60

First Resistance Area: $11.50-$11.85

Major Resistance Area: $15.10-$16.00

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Binance futures & spot signals

Educational Post

What Is Hash Rate and How Does It Work?

In the world of cryptocurrencies, the term hash rate holds significant importance as a key metric to evaluate the efficiency and security of blockchain operations. Essentially, hash rate refers to the speed at which a computer can perform hashing computations during the process of validating transactions (i.e., cryptocurrency mining).

These computations involve a series of attempts to find a valid solution to a complex math problem. They are done with specialized crypto-mining machines that submit data through algorithms known as hash functions.

Understanding Hash Rate and Crypto Mining

When it comes to Bitcoin and other cryptocurrencies, the hash rate serves as a performance indicator for specialized mining machines. It represents the rate at which a mining hardware processes data in its quest to compute a valid block hash. Cryptocurrency miners aim to produce a hash that adheres to specific criteria, typically beginning with a certain number of zeros.

As such, the profitability of a miner or mining pool is directly linked to the hash rate. A higher hash rate corresponds to a greater likelihood of successfully mining a block, thereby increasing the miner's chances of receiving the coveted block reward. This correlation underscores the fundamental role hash rate plays in the economics of cryptocurrency mining.

In the context of Bitcoin mining, every time a miner successfully validates a new block of transactions, they receive a certain amount of BTC as a reward (along with the transaction fees paid by users). The current block reward for Bitcoin miners is 6.25 BTC, but with the Bitcoin halving of 2024, the block reward will be reduced to 3.125 BTC.

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Binance futures & spot signals

The TOTAL2 (altcoin marketcap) retested the area after a breakout and bounced from there. This is a good sign and now we may see a move towards the major resistance area. The support zones remain the same.

First Support Area: $600-$620 Billion

Second Support Area: $545-$550 Billion

Major Resistance Area: $680-$700 Billion

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Binance futures & spot signals

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Binance futures & spot signals

AXSUSDT analysis 📊

Time frame: 15 min

🔖 It is in a downward trend, where the specified area is the stop range of high supply and the source of sharp falling movement

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Binance futures & spot signals

Analysis of UNFIUSDT📊

Time frame: 15 min

🔖 This currency is also in a strong upward trend, and the previous ceiling range is a high supply area

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Binance futures & spot signals

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Binance futures & spot signals

BNB experienced heavy selling at resistance and was dumped as CZ stepped down as Binance's CEO. Binance must pay $4 billion for settlement, which will impact BNB's price in long-term.

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Binance futures & spot signals

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Binance futures & spot signals

Educational Post

What Is Danksharding?

Derived from the name of Ethereum researcher Dankrad Feist, danksharding introduces a transformative approach to sharding technology. Sharding involves breaking down a blockchain database into smaller, more manageable parts for increased efficiency. Unlike conventional sharding methods, danksharding simplifies the architecture, focusing on a merged market fee concept.

In traditional sharding, each shard has distinct blocks and block proposers. Danksharding streamlines this by having a single block proposer, enhancing transaction processing and data storage efficiency. This innovation addresses the blockchain trilemma by prioritizing security, decentralization, and scalability.

Key Features of Danksharding

1. Merged market fee: Danksharding introduces a unified market fee, streamlining the transaction process by minimizing complexities associated with having multiple block proposers.

2. Optimized data availability: The primary focus of danksharding is to enhance data availability for rollups, a Layer 2 scaling solution on Ethereum. By efficiently managing data, Danksharding significantly improves the network's performance.

3. Simplified sharding architecture: Danksharding simplifies the sharding structure, making it more straightforward and efficient. This approach addresses the challenges posed by the traditional trilemma, fostering a better balance between security, decentralization, and scalability.

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Binance futures & spot signals

Bitcoin is consolidating and the market has absorbed FUD. Sideways movement over the weekend is expected. No changes have occurred in the BTC.

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Binance futures & spot signals

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Binance futures & spot signals

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Binance futures & spot signals

Over the past 24 hours, short-term holders sold $1.5 billion worth of BTC into the market = largest daily sale in a month.

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Binance futures & spot signals

After experiencing an upward movement, XRP retraced back to the support area. The price was tested and then bounced back up from the support zone. If you missed your chance last time, you can consider opening a long position at the support area. It's recommended to set a tight stop loss below the $0.55 level.

Support Area: $0.57-$0.60

Resistance Area: $0.68-$0.713

Next Resistance Area: $0.77-$0.78

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Binance futures & spot signals

The market has absorbed the news well, resulting in Bitcoin testing the resistance area once again. Heavy selling is taking place in this area, and BTC is still trading within its range. It is advisable to maintain a tight stop loss in all trades, as there is a possibility of another negative news that could crash the market in the coming days. The support and resistance levels remain unchanged.

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Binance futures & spot signals

KLAY analysis:

Price is currently testing the resistance area. A breakout above it is bullish, while a rejection will send a price towards the support area. It's best to wait for a breakout above resistance for new entries.

Support Area: $0.145-$1.15

Resistance Area: $0.192-$0.202

Next Resistance Area: $0.25-$0.258

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Binance futures & spot signals

SXPUSDT analysis 📊

Time frame: 15 min

🔖 The specified area is both in the range of sharp downward movement in the past of the market and is also the range of movement step

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Binance futures & spot signals

KLAYUSDT analysis 📊

Time frame: 15 min

🔖 In a strong upward trend in the range of the previous ceiling, a long trade can be opened

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Binance futures & spot signals

There have been large BTC outflows from the Binance exchange in the past hours. It was one of the highest rises since March 2023 levels. It is observed that there is a rapid outflow of Bitcoins held on the Binance exchange, as seen in the chart.

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Binance futures & spot signals

It appears that BCH is currently testing the support trendline of a triangle formation. In the event that the trendline is broken and there is a candle close below it, the price is expected to move towards the support area. Before a breakout, there may be a bounce from the current level towards the upper resistance trendline of the triangle.

Support Area: $165-$180

Local Resistance Area:$250-$260

Major Resistance Area: $300-$320

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