CHZ analysis:
Price is currently trading within a range defined by support and resistance levels. As there is no clear setup for new positions, it may be better to wait until either the resistance level is broken or the support level is tested.
Support Area: $0.110-$0.114
Resistance Area: $0.161-$0.170
Bitcoin accumulation among the 'Shark' group is at its highest in a decade. Plus, there's a notable rise in addresses holding 100 to 1000 BTC. This shows the accumulation is high even at these levels.
Читать полностью…The TOTAL marketcap of the crypto market currently trading within a triangle pattern, with the price showing respect to both the support and resistance lines. The market will likely continue to move sideways within the triangle for the next few days. The direction of the next move will be determined by a break of the triangle pattern.
Major Support Area: $2 Trillion
Resistance Area: $2.60-$2.70 Trillion
If you didn't get a chance to invest in DOGE earlier, you can consider opening a small long position now with a tight stop loss. There seems to be a small falling wedge pattern on lower time frames, which is generally a bullish pattern and tends to break in the upward direction. However, the resistance level remains the same.
Читать полностью…Bitcoin is currently holding steady around the support area, in line with expectations. This sideways movement may persist over the weekend, with potential action picking up next week. As the BTC halving approaches, historical trends indicate possible dumps leading up to the event. It's advisable to employ tight stop-loss orders for all open positions to manage risk effectively during this period of uncertainty.
Читать полностью…LTC analysis:
The price is approaching the support area. Consider opening a small long position near support with a tight stop loss. Although old coins aren't experiencing significant price increases like new coins, proper risk management is advised
Support Area: 92.80-$94.50
Resistance Area: 109-113
Bitcoin experienced a rebound after testing the support area of $64,000-$65,000. As of now, we may observe some sideways movement between the support and resistance area. If the price falls below the support area of $64,000, it is likely to push towards the support area of $59,000-$60,000. The resistance area is between $69,000-$70,000.
Читать полностью…Educational Post
What Is Parallelization?
Parallelization (Parallel Transaction Execution) is a method for processing multiple tasks at the same time. Parallelization is based on the idea of parallelism, which is a concept in computer science that describes the ability to execute multiple processes simultaneously. For blockchain technology, this approach increases the number of transactions per second (TPS) and improves the overall throughput of the network.
How Parallelization Works
Parallelization structures the network to validate multiple transactions simultaneously instead of processing them sequentially (one by one). It uses the available network resources and spreads the task of transaction execution across multiple nodes.
Parallelization checks many potential network states simultaneously, each showing the outcome of validating a particular set of transactions. By exploring these states, the network understands how each transaction would impact the ledger if it was validated. Once the check is over, the network reaches a common state, which reflects the outcome of the parallel validation.
XRP analysis:
Price is currently testing the support area and must hold it. There may be some accumulation at the support before the next move. You can accumulate some XRP near the support area with a tight stop loss.
Support Area: $0.568-$0.60
Resistance Area: $0.68-$0.713
XAI analysis:
Price is now heading towards the support area. You can open long positions at the support area with tight stop loss. We are expecting a bounce from the support area towards the resistance area.
Support Area: $1.00-$1.09
Resistance Area: $1.19-$1.23
Major Resistance Area: $1.50-$1.55
According to Glassnode's data, there's an interesting trend emerging: daily realized profits have hit a peak at $2.6 billion, with 40% of this figure attributed to long-term holders.
While selling activity has decreased overall, it's noteworthy that long-term holders alone contributed nearly $500 million to the $1 billion in profits realized on March 31st.
Bitcoin is currently testing its support level, and some market volatility can be expected today. In all open positions, use tight stop loss. If the market breaks below the $69,000 level, it will be bearish and lead to further selling.
Читать полностью…$BFLOKI Token is Now live on MEXC: Let's Celebrate Crypto Style! 🎉
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Presently, 18.2 million BTC units are currently in a profitable state. At all-time high, every single BTC in circulation was experiencing gains. Notably, there are roughly 2 million BTC holdings acquired at prices exceeding $61,000.
Читать полностью…🚀 Countdown Alert! Less than 4 hours until $BFLOKI Launches on MEXC!🚀
- $BFLOKI torched another 10% of supply, bringing the total burn to a staggering 60%! 🚀 With a whopping 600 billion tokens gone FOREVER, the BitFloki ecosystem just got even stronger! 🔥
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Educational Post
What Are Bitcoin Stamps?
Bitcoin Stamps represent a method for integrating digital art within the Bitcoin blockchain. They encode data within unspent transaction outputs (UTXOs), ensuring its immutability by permanently including it in the blockchain.
How Bitcoin Stamps Work?
A Bitcoin Stamp is created by turning a piece of digital art into a base64 string. The string is added to a Bitcoin transaction, marked with a "STAMP:" prefix. This data is spread out over several outputs using multi-signature transactions. This approach ensures that digital artwork will be permanently recorded on the Bitcoin blockchain.
Each Bitcoin Stamp gets a special number that's based on when the transaction happened, making it easier to keep them in order. For a Stamp to be officially recognized, it must meet certain rules, like being part of the first transaction that includes a valid "STAMP:base64" string.
Bitcoin Stamps Protocols
There are two main protocols used in Bitcoin Stamps: SRC-20 and SRC-721.
1. SRC-20. The SRC-20 token standard is built on the open Counterparty protocol. It embeds arbitrary data within spendable data transactions – unlike Ordinals, which places data in the witness section.
2. SRC-721. The SRC-721 standard makes it cheaper to create detailed NFTs. It uses the Bitcoin STAMPS protocol to store pictures in layers, cutting down on file size with methods such as indexed color palettes for each layer. The layers can be pulled together into a single NFT, allowing for the creation of high-quality images without incurring high costs.
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RARE analysis:
Price is now heading towards the support area. Wait for a test of the support area for opening new long positions.
Support Area: $0.148-$0.153
Resistance Area: $0.206-$0.218
SOL analysis:
A triangle pattern has formed on lower time frames and the price is currently respecting the support and resistance lines. The direction of the next move will be determined by the break of this triangle pattern. Therefore, it is recommended to keep an eye on the chart and wait for a break in either direction.
Support Area: $165-$170
Resistance Area: $195-$200
RAY analysis:
The price is currently approaching a support area, and we may observe some sideways movement and accumulation around this zone. It could be a good idea to consider building a small long position around the support area. In the next few days, we may see a continuation of the upward movement.
Support Area: $1.83-$2.00
Resistance Area: $2.50-$2.60
The Bitcoin liquidation heatmap reveals significant liquidation of short positions around the $68,000 area. Given this data, it's highly probable that the market will prioritize clearing out these positions before making its next move. Traders should monitor this closely as it may impact market sentiment and price action in the short term..
Читать полностью…Bitcoin has breached below the support area, encountering significant selling pressure. Currently, the price is on a downward trajectory towards the next support level in the range of $64,000-$65,000. This is the reason we recommend you to use tight stop loss in all open positions.
Читать полностью…Educational Post
What is a Matching Engine?
Have you ever wondered about the magic that occurs behind the screens when you trade stocks or cryptocurrencies? How does an online trading platform or exchange perfectly pair the countless buy and sell orders from traders all around the world? The answer lies in a powerful tool called the matching engine.
At its core, a matching engine is a sophisticated piece of software designed to pair buyers and sellers in financial markets. To unpack how it works, let's start with a trading exchange.
Traders interact with the exchange to place their buy or sell orders. Each order includes specific details, such as the type of asset (like a stock, commodity, or cryptocurrency), the volume, and the price at which they wish to buy or sell.
Once the order is placed, it's the matching engine that processes and matches them. Think of it as an extremely diligent middleman, processing hundreds of orders in a fraction of a second. It goes over these orders and pairs off buyers and sellers according to their stipulated criteria.
Primarily, the matching process works by following two key rules: price and time. The matching engine will first match orders with the same price. If there are multiple orders with the same price, it prioritizes them based on the time they were placed. This is commonly referred to as "price-time priority" in the trading world.
ETH is currently being traded at the support area while accumulation is taking place. The price is holding steady at the support area. We may see some sideways movement for the next few days before the next big move.
Читать полностью…Educational Post
What Is Liquid Staking and How Does It Work?
In short, liquid staking is the tokenization of staked assets. We can think of it as an evolved version of traditional staking.
Conventional staking involves locking assets on a Proof of Stake (PoS) blockchain for a chance to receive rewards while contributing to the network’s security. However, this process often comes with a trade-off, as staked assets are typically illiquid (locked) during the staking period.
Liquid staking addresses this liquidity issue by introducing a mechanism where users receive liquid staking tokens (LSTs) in exchange for their staked assets. For example, if you stake ETH on a platform like Lido, you will receive stETH tokens in return. This gives staked tokens more utility, as users can benefit from staking rewards without compromising liquidity.
Why Does Liquid Staking Matter?
Liquid staking addresses the liquidity issue associated with traditional staking, providing users with greater flexibility and accessibility to their staked assets.
Platforms like Lido can offer users the opportunity to tokenize their staked assets into LSTs that can then be freely traded, used in decentralized finance (DeFi) applications, or leveraged as collateral without waiting for the staking period to conclude.
In addition, liquid staking contributes to the overall growth and adoption of blockchain networks by encouraging more active participation from users who may have been hesitant to lock up their assets for extended periods.
🎉 Exciting News! BFLOKI Token will be LIVE on MEXC Exchange within next 60 minutes🚀
Some key points for #BitFloki
- Trending on Dextools✅
- CMC and CG listed✅
- Liquidity locked ✅
- 25% Token locked ✅
- 60% Supply burned✅
- Partnership and Development✅
- Dex and Cex exchange listing ✅
- Roadmap Implementation ✅
- Upcoming major events ✅
- Product Market Fit ✅
- FA & TA✅
$BFLOKI started Centralised Exchange journey from MEXC, Don’t forget Tier1 exchange announcement in pipeline as per their official tweet. Grab it and be a early bird of this massive journey 🥳
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Bitcoin's dominance is currently hovering between the support and resistance levels. It is expected to test the support area in the coming days, and if it breaks below the support, there may be a huge upward rally in altcoins.
Support Area: 51.90-52.20%
- BFLOKI is now trending as the hottest token on Dextools! 🔥
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