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▪️About blockchain, cryptocurrency and crypto technologies. ▪️Actual entry and exit points in the cryptocurrency market 🔹Channel: @finsignal 🔹Buy ads: https://telega.io/c/finsignal
The global crypto community will help Turkey overcome the consequences of earthquakes
Cryptocurrency exchanges from different countries are ready to help the Turkish authorities in the matter of eliminating the consequences of a series of powerful earthquakes. A noble initiative was announced by a group of blockchain companies. It also includes Turkish trading platforms.
A collection of donations in digital assets has been organized. Thus, the BitGet platform allocated 1 million Turkish lira (about $53,000) for humanitarian aid to the affected country. The Huobi exchange promises to provide 2 million liras. Support is offered by Binance, Bitfinex, Gate and other exchanges.
The blockchain sector of Turkey appealed to the country's leadership with a request to lift restrictions on accepting donations in the crypt. This petition was supported by more than 40 organizations and companies.
Ankara should open several official crypto wallets, where donations from the global crypto community will be received.
@finsignal
🙅Hodlers did not sell bitcoin even during the January rally
The Glassnode team focuses on the commitment of BTC investors to a cumulative strategy: even during the January run, hodlers refrained from selling the first cryptocurrency.
Approximately 49% of the BTC turnover is stored in wallets without movement for more than two years. Traders do not bring 9.45 million coins, estimated at $220 billion, to the market. A similar situation was observed at the turn of 2020-2021 — shortly before the large-scale spring rally of bitcoin.
✅ The hodlers started to implement only after BTC resumed the offensive. After the fall in the value of bitcoin, the trend of long-term storage has again become dominant.
The January race did not activate the hodlers. They believe that a more productive rally is still ahead. Most likely, long-term investors will start dumping only after BTC reaches more serious frontiers.
@finsignal
🇱🇹 Lithuania is putting things in order in the country's crypto market
As part of the policy to ensure transparency of the blockchain industry and protect investors, Lithuania is trying to restrain the growth of the number of crypto companies in the country. The number of companies wishing to register in the Lithuanian jurisdiction is already too large.
According to Bloomberg, the Registration Bureau has published the names of 205 companies that fully comply with the government requirements introduced in November 2022. Initially, there were 850 of them, but the Ministry of Finance radically reduced the list of applicants.
Such an approach, according to Vilnius, will eliminate risks for the financial system. All the rules that market participants are required to comply with are listed in the law on combating Money laundering and terrorist financing.
There is also a minimum threshold for the requirements for start—up capital - € 125,000.
@finsignal
The Cabinet of Ministers of Kyrgyzstan is ready to pay special attention to cryptocurrencies
The head of the government of the republic Akylbek Zhaparov considers it necessary to accelerate the development of a regulatory framework for the cryptocurrency market.
Speaking at the forum "Digital Almaty: Digital Partnership in a New Reality", the Prime Minister noted that many Kyrgyz manufacturers are already using crypto, including in settlements with suppliers, including Russian counterparties.
According to Zhaparov, digital currency is an alternative to traditional financial instruments. But the large-scale and unregulated use of cryptocurrencies will create serious risks for the economic stability of the state.
Do not forget about the threat of criminal use of digital assets and tax evasion. Kyrgyzstan should keep up with the times and taking into account global trends, the head of the Cabinet of Ministers believes.
@finsignal
🏧 343 Bitcoin ATMs were decommissioned in January
The pace of installation of cryptocurrency terminals in 2022 slowed down significantly due to the tightening of the supervisory policy and a significant drawdown of bitcoin and altos.
✅ According to CoinATMRadar, 370 bitcoin ATMs were installed in January, but 343 terminals were decommissioned during the same time. The net increase in devices in the global network was only 0.1% (+27).
✅ The total number of crypto ATMs in the world as of February 2 decreased to 38,446.
✅ Cryptocurrency terminals are installed in 81 countries, they are serviced by 586 operators.
There are no changes in the top three states in terms of the number of cryptomats — the USA (33,766), Canada (2,647) and Spain (268).
Georgia is the leader in the post-Soviet space with 111 BTC ATMs.
There are 54 terminals installed in Russia.
Cryptomats also operate in Armenia, Estonia, Ukraine, Kazakhstan and Lithuania.
@finsignal
👀 The correlation of the stock market and BTC has been increasing since December
In November 2022, after the collapse of the FTX, the traditional correlation between the price of bitcoin and US stock indices significantly weakened. But by the end of December, the dependence of the cryptocurrency on indicators of business activity began to grow again.
According to IntoTheBlock, the Nasdaq and BTC correlation index reached 0.93, and the dependence of the first cryptocurrency on the stock indicator became almost perfect. A similar situation is developing in the BTC and S&P 500 pair.
Traders can use this data when forming tactics of behavior in the market. With a high correlation in predicting the future dynamics of bitcoin, it is advisable to focus on the behavior of US indices.
✅ Do not forget about the existence of a negative correlation between BTC and USD — this is also a fairly adequate tool for analyzing the situation in the crypto world.
@finsignal
📈 In January, trading on crypto derivatives exchanges soared by 66%
Last month, the turnover grew not only on the spot crypto market. Crypto-derivatives exchanges have demonstrated stunning growth.
According to CryptoRank, the amount of transactions with products focused on digital currencies increased by 66.4% compared to December (from $1.18 trillion to $1.97 trillion).
The BitMEX and ByBit platforms have become the leaders. The amount of transactions with derivatives on these trading platforms in January increased by 185% and 106%, respectively.
There are also laggards. Thus, the MEXC and Gate exchanges recorded a decrease in trade turnover — despite the increase in the value of digital currencies.
@finsignal
⚡️A lot of unlocks in different tokens in February
#Kaiko notes a fresh pattern in altcoins — rally before unlocking
@finsignal
⚡️ CME institutions have almost completely reduced their short positions
The last time this happened was in August 2020 - before bull run.
@finsignal
🚀 In January, Bitcoin shot up by almost 40%
At the end of last month, BTC grew by 39.63% (according to CoinGlass).
✅ This 31-day period was the most productive January for the digital currency since 2013. Then bitcoin soared by 44.05%.
In January 2022, BTC sank by 16.68%, but the first months of 2020 and 2021 were very successful for the coin — +29.95% and +14.51%, respectively.
✅ Bitcoin starts trading in the red zone in February, although today the losses are small (-0.12%). But they may rise if the Fed raises the rate. Interestingly, in 2021 and 2022, BTC ended February with a positive result — with a rebound of 36.78% and 12.21%.
✅ Every February since 2015 (with the exception of 2020), bitcoin has finished in the black. And in 2013, following the results of the last month of winter, BTC soared by 61.77%. Perhaps a positive scenario will become a reality this year.
@finsignal
The state of the crypto market on 30.01.2023
Market capitalization:
$1,112,997,309,838
Daily Trading volume:
$68,738,299,490
Fear and Greed Index:
61 - greed
Portfolio HOLD: $2466/$2270
@finsignal
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🫣 Kazakhstan conducts searches in crypto-exchangers
Financial monitoring of Kazakhstan conducted searches in the offices of crypto exchangers.
According to RBC, these exchangers illegally carried out such activities on the territory of the republic.
With the adoption of the law on licensing exchanges and other cryptocurrency platforms, it became possible to carry out such activities only within the framework of the Astana International Financial Center.
During the searches, exchangers serving clients without a license lost laptops, flash drives, banking and other documents. In total, assets were frozen for a total amount of up to $6,000 only on Binance.
@finsignal
🔥 Djed decentralized stablecoin based on Cardano is preparing to launch next week - token developers
Djed will be backed by other tokens. Djed will require a 400% deposit. This overcollateral mechanism would allow the value of djed to hold steady during times of market stress and prevent a repeat of TerraUSD.
Djed will work with over 40 Cardano-based decentralized finance applications (dApps) upon launch.
Holders of the SHEN token, designed to support the stability of djed, will receive additional rewards when holders of Cardano's ADA cryptocurrency start minting djed stablecoins.
@finsignal
#LastNews
🔹️Sushiswap launches a perpetual futures exchange on the Sei network
Facebook and Instagram Restore Accounts of Former US President Donald Trump
🔹️Indonesian regulator may classify cryptocurrencies as securities, not commodities
🔹️Arkham Intelligence blockchain analytics platform to add support for Polygon in the first quarter
🔹️Moonbirds NFT project founder Kevin Rose lost at least $1M in NFT due to wallet hack
🔹️Yesterday, the US government filed an antitrust lawsuit against Google, and a month ago, Nancy Pelosi sold $3 million in GOOGL stock.
🔹️Visa CEO says blockchain solutions will be integrated into company services to support next-generation payments
🔹️Goldman Sachs: Bitcoin is the most profitable asset of 2023 - According to the bank report, BTC outperformed S&P 500, gold, real estate and Nasdaq 100
🔹️IBF Net launched Netverse, the world's first blockchain metaverse Algorand, which is also the world's first sharia compliant metaverse — Netverse is expected to make a major contribution to digitalization in the Islamic world
@finsignal
📈 Trading volume on decentralized exchanges increased by 36.8% in January%
January brought success not only to centralized, but also to decentralized cryptocurrency trading platforms (DEX).
According to CryptoRank, compared to December, the trading volume on such platforms increased by 36.8% last month — from $47.3 billion to $59.8 billion.
UniSwap and Curve hold the leading positions in the rating of DEX platforms. These exchanges process about 71% of transactions with digital currencies. The amount of transactions per month on the two platforms soared by more than 60%.
Only two exchanges from the rating of the largest DEX — Balancer and Dodo — showed a decrease in turnover by 20.6% and 25.1%, respectively.
@finsignal
TOP 10 CRYPTOCURRENCIES
06.02.2023
Digital assets of the TOP-10 category start trading in the red zone for the new week. Under the pressure of bears, the cryptocurrency market continues to gradually give up the positions won in January.
Bitcoin (-1.93%) fell back to $22,829 after several Sunday drawdowns. The rebound attempt was not the most successful and BTC met Monday morning at $22,898 with a capitalization of $441 billion.
Ether (-2.04%) and BNB (-1.26%) sank to $1,627 and $325.45.
XRP (-2.63%), Dogecoin (-3.46%) and Polygon (-3.91%) fell to $0.398, $0.0916 and $1.20.
Cardano has minimal losses so far (-1.24%), retreating to $0.392.
The capitalization of the crypto market is $1.08 trillion (-1.56%), the bitcoin dominance index is 40.73%.
Indonesia is preparing to launch a state-owned crypto exchange
The Indonesian Ministry of Commerce planned to launch a national cryptocurrency exchange in December 2022. But the timing of the project has shifted.
The head of the Ministry of Trade Zulkifi Hassan now calls the start date of the trading platform June 2023.
The exchange, which provides services for the exchange and storage of crypts, will be controlled by the Ministry. She will become an intermediary between sellers and buyers of tokens, and the state will be able to control all transactions.
The official assures that the existence of a national exchange will ensure the security of investors' funds, since many Indonesian citizens still have little understanding of the features of cryptocurrencies.
Today, the turnover of digital assets is monitored by the Commodity Futures Regulatory Agency. After the launch of the crypto exchange, this market will come under the control of the Financial Services Authority.
@finsignal
🤔 Traders have earned $1,700 from taking the milestone with ether
On Thursday, ETH broke above $1,700 for the first time since September 12, but could not hold positions, as traders who wanted to make money on this jump became more active.
According to Santiment, the number of profitable transactions for the sale of ether has reached a maximum in two years (since February 2021). The reset led to today's pullback of ETH to $1,642 during the European session.
According to analysts, most likely, most investors doubt the long-term nature of the current rally. Therefore, many preferred to dump the asset and extract maximum profit.
Nevertheless, the technical data so far hint at a positive scenario. The volume of ether on crypto exchanges has remained at a minimum since 2018 — 11.25% of the total ETH supply. And this suggests that the pressure on the asset from sellers is not growing.
@finsignal
🇮🇳 India will replenish the state budget at the expense of crypto investors
The Indian Parliament has considered the draft state budget for 2023-2024. It prescribes penalties for individuals who evade paying tax on income from the sale of crypts.
The government clearly intends to use the money of crypto investors to close the gaps in the budget. Tax evasion is fraught with sanctions. Fines will be issued here from April 1, and malicious violators face imprisonment for up to 7 years.
And in return, officials promise to create conditions for accelerated digitalization of the payment infrastructure and increase the availability of financial services.
The crypto business supports the desire for modernization, but opposes strict fiscal policy.
In India, there is a 30% tax on income from crypto transactions and a 1% fee from crypto holders. The crypto community proposes to reduce this fee from 1% to 0.01%. But he does not find understanding.
About this — in our weekly Cryptoweek digest #75
@finsignal
💰 In January, crypto funds raised more than $210 million
The growth of institutional interest in digital currencies looks like a direct result of the January bitcoin rally.
Last month, exchange-traded crypto funds raised more than $210 million. This is the maximum since May 2022, according to Bloomberg. January was marked by the highest activity of institutional investors since the end of spring.
According to CryptoCompare, the total volume of digital assets managed by crypto funds increased by 37% to $19.7 billion.
✅ $40 million went into the ProShares Bitcoin Strategy ETF (BITO) fund. The same amount was able to attract an ETF from CoinShares (BTCQ). Other funds, including ETFs that track the performance of the mining industry, also showed good growth.
But City Index analysts doubt the long-term positive trend. According to their forecasts, the pressure may increase. And then risky assets will face an outflow of capital.
@finsignal
🐳 Dogecoin fluctuates in time with whale activity
During the week, the meme DOGE jumped by 9.20%. On Wednesday, the coin reached $0.092, then temporarily retreated to $0.0888, and on Thursday morning it was trading at $0.0943.
According to Santiment, Dogecoin has risen in price by 40% since December 29. For the first time since December 10, DOGE reached $0.095. But the recent drawdown was the result of a reset arranged by whales.
✅ Large holders of cryptocurrencies first pumped up DOGE, and then started implementing it. In the Dogecoin network, the number of transactions in the amount of $100,000 (523 transactions) increased to a two-month maximum, and the number of active addresses reached 86,427.
Analyst Ali Martinez points to a strong DOGE support zone at $0.086. Here, more than 89,000 addresses previously bought up 14 billion DOGE.
✅ The zone of strong resistance is at $0.099. Here about 21,000 wallets have purchased 8.2 billion coins.
@finsignal
🕶 Bitcoin traders were not scared by the growth of the discount rate
The US Federal Reserve is expected to raise the rate by 25 bps — up to 4.75% per annum. Such a decision, in theory, should have had a negative impact on the attractiveness of risky assets. But that didn't happen.
Investors were expecting a rate hike, and the Fed's positive expectations for inflation were the main factor that prevented the BTC reset. Nevertheless, Powell confirmed that the Fed plans to reach the inflation target of 2%, so monetary policy will remain moderately conservative.
✅ The index of "crypto Fear and greed" (Crypto Fear & Greed Index) has grown to 60. It remained neutral last week despite the bitcoin rally. Now the mood has moved to the "greed zone", and investors are waiting for more impressive results from BTC.
✅ Bitcoin is close to $24,000 and he can take this milestone.
@finsignal
Armenia has not yet decided on the format of crypto regulation
Yerevan continues to explore the best options for the regulatory framework for the cryptocurrency industry.
According to the head of the Central Bank of Armenia Martin Galstyan, the regulator adheres to a conservative model and considers the crypt not a currency, but a tool for speculation. Although some countries equate digital currencies with property.
"Discussions are underway in the Central Bank regarding the regulation of the crypt. There are such discussions going on around the country. But at the moment I cannot say that we have come to some final model that, in our opinion, would be the best," Galstyan stressed.
At the same time, the blockchain infrastructure continues to develop in Armenia. According to CoinATMRadar, the number of bitcoin ATMs at the end of January 2023 amounted to 9 units. Terminals are located in Yerevan and Gyumri.
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⚡️BlackRock ($10 trillion under management), Goldman Sachs ($2.55 trillion under management) and BNY Mellon ($1.8 trillion under management) "hope to expand" bitcoin and crypto offerings - Bloomberg.
@finsignal
🔍 The complexity of bitcoin mining has updated the historical maximum
Last Sunday, after another adjustment, the complexity of bitcoin mining increased by 4.68% - from 37.59 Tons to 39.35 Tons.
According to CoinWarz, a new record has been set.
✅ Mining difficulty is adjusted every two weeks. The greater the number of miners connected to the network, the more difficult it is to mine cryptocurrency. When disconnecting farms from the network, the complexity is reduced.
✅ As miners exit the market, the hashrate of bitcoin weakens, but for now the computing power exceeds 300 Eh/s. On January 6, 2023, the hashrate was at a historic high of 348.7 Eh/s. It will grow again if bitcoin continues to add in value.
@finsignal
⚡️ CryptoQuant CEO does not rule out that BTC is entering a new true bullish phase.
He notes that at these levels, almost no one sells on their own - if there are sales, then only forced ones - margin calls, sales associated with the liquidation of bankrupts, etc...
@finsignal
🚘 Tesla did not sell the remaining bitcoins from the accounts
Everything is unchanged: $ 245,553,000 is now in the accounts of Musk's company. In the first half of 2022, Tesla sold 75% of its bitcoin holdings.
By the way, Tesla itself reported well for the 4th quarter of 2022: the company's sales again broke the record. And this despite the constant problems with production in China. For details to colleagues from IF News.
@finsignal
🚀 The Central Bank of India has launched CBDC digital rupee, which is already in full use - even in street markets
To make a purchase, you need to scan the QR code to receive an invoice and pay using GooglePay or Scan&Pay
@finsignal
⚡️Aptos is in the top 3 blockchain by total capitalization, taking into account locked tokens
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