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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 winter rally has activated Ethereum-hodlers
The rush of ether in January and February 2023 created conditions for the activation of addresses with a balance of 0.01 ETH. Their number has reached a six-month high (23,014,328), according to the Glassnoode report.
However, the data from the same platform indicates that large investors decided to make money on the winter rally and dropped some of their reserves on the air. The number of addresses with a balance of 1,000 ETH dropped to a monthly low yesterday — to 6,514.
Whales and sharks holding between 100 and 100,000 ETH now control almost 47% of the total altcoin supply, analysts at Santiment say.
A jump above $1,700 for the first time since The Merge has become the main trigger for whale swimming and dumping. As a result, ether fell to $1,645 at the end of last week.
✅ But already this week, ETH has returned to values above $1,700.
@finsignal
🇱🇦 Laos chooses CBDC
The Central Bank of Laos has announced the first trials of the DLak token. The regulator wants to develop an effective mechanism for testing the digital Lao kip.
One of the commercial banks will receive a CBDC from the regulator and distribute them among customers. They will be able to use digital KIP for settlements in individual retail outlets.
The research work took a year. Laos has carefully analyzed Cambodia's CBDC project: in October 2022, this country presented its token on the blockchain.
The partner of the Bank of Laos is the Japanese developer of DeFi-services Soramitsu. Based on the results of testing, a final decision will be made on the feasibility of issuing a token.
The regulator believes that CBDC will increase the availability of financial services for the population. There are simply no bank branches in some parts of the country, and people need a tool to transfer funds. The digital currency of the state will solve this problem.
@finsignal
Euphoria in social networks provoked Saturday's rollback of bitcoin
Last weekend, BTC briefly tested values above $25,000, but could not hold positions. Already on Sunday, the coin fell below this psychological mark.
Analysts of Santiment note that the achievement of an eight—month high was accompanied by a surge in the activity of users of social networks.
A sharp increase in the number of bullish BTC posts usually signals the achievement of a local peak and a rapid rollback of the cryptocurrency. We saw this scenario last weekend.
A similar situation occurred in mid-February. Bearish sentiment dominated social networks, and then bitcoin's ascent began.
The negative splashed out on the social network at the end of last week against the backdrop of a BTC rollback below $25,000 may signal that the coin has reached the bottom, and expansion will resume soon.
@finsignal
❓ Cryptocurrency arbitrage: types and strategies of earning on volatility
The volatility of digital currencies has led to the fact that the same coin can have different values on different platforms. A significant discrepancy in price is used to make a profit. For this, the so-called cryptocurrency arbitrage is used. With its help, you can earn safely and efficiently.
@finsignal
🔥 Why the USA when there is China?
"In 2022, the People's Bank of China printed a record 11 trillion yuan ($1.7 trillion). And no one talks about it, but closer to the summer I think they will talk.
Now we follow the movements of the most cunning Chinese Justin San:
- October '22 buys the "ex-Chinese" exchange #Huobi, which is now sitting in Hong Kong
- December '22 Hong Kong adopts a law according to which from June 1 '23 it will officially make the purchase and sale of crypts legal for its citizens
- January '23 Justin announces his move to Hong Kong, explaining that the great pump will be made in China
We have a very good narrative for continuing to rock the market for several months.
Here the Chinese will come on June 1 and will buy our bags for fresh trillions through Hong Kong on hay, just like with #Bakkt in September '19 (which was a sell the news event)"
🇨🇳 China will become a catalyst for the active phase of the market, so Chinese projects can potentially show themselves better than others 🚀
@finsignal
The volume of daily liquidation of positions on exchanges exceeded $181 million
The aggravation of volatility provoked another large-scale liquidation of positions in the futures market.
✅ According to CoinGlass, in 24 hours the exchanges canceled positions for $181.25 million. In bitcoin and ether — by $67.75 million and $38.21 million, respectively.
The BTC jump above $25,000 improved the sentiment of institutional investors. Open interest in Bitcoin futures rose to $11.634 billion on February 16.
A similar situation has developed in the BTC options market. The amount of contracts deployed yesterday reached $8.195 billion, the highest value since April 2022.
✅ Next Friday, the monthly expiration of BTC options will take place. Most bullish Call contracts are focused on ending February at $28,000. Bears will try to keep bitcoin in the range of $23,000 to $24,000.
@finsignal
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⚒ The hashrate of bitcoin has updated the historical maximum
The BTC jump above $25,000 was accompanied by a noticeable increase in the activity of mining pools.
✅ According to Blockchain, on February 16, the BTC hashrate updated the record, reaching 304,363 hash per second (Eh/s).
✅ CoinWarz data confirms record capacity growth. Judging by the statistics of this service, the bitcoin hashrate reached 347.858 Eh/s after the February breakthrough, but on Friday it adjusted to 345.022 Eh/s.
The average block size in the network exceeded 2 MB, and on February 15 it reached 2.25 MB for the first time in the history of the cryptocurrency, but then went down.
✅ The complexity of mining has also increased significantly against the background of increased competition between miners and now amounts to 39,249 tons.
The lion's share of the BTC hashrate is controlled by the mining pools Foundry, AntPool, F2Pool, Binance Pool and ViaBTC.
@finsignal
Oman is following the path of Crypto Regulation
Oman's Capital Markets Authority (CMA) is exploring options for legalizing the digital currency industry.
The law on the cryptosphere should become part of a large-scale program of the authorities to stimulate innovation and fintech.
The regulator's press release notes that the regulatory framework for the industry will ensure transparency of token transactions, as well as the security of consumers and issuers of digital assets.
The agency is still only considering legislative options, but plans to enshrine in law all the most important points, including licensing of crypto companies and the creation of an effective supervision system.
For the first time, the CMA announced its intention to legalize the digital currency market in January 2022. But over the past 12 months, the regulator has been engaged exclusively in research work. It looks like the time has come to draft a bill.
@finsignal
The star of the Matrix values the crypt, and sees a threat in the metaverse
Keanu Reeves — the performer of the main role in the cult blockbuster "The Matrix" — is among the supporters of the crypto world and holders of digital currencies. The crypt was given to him by a friend, and Reeves did not sell it.
In an interview with Wired, the actor called digital currencies an amazing tool for transferring and storing resources. Volatility and hype around the crypt contribute to its popularization and increase the effectiveness of this asset in terms of security.
Reeves is interested in artificial intelligence and the NFT market. According to him, art is undergoing the process of digitalization, and artificial intelligence is learning to create a wide range of products.
But the actor is skeptical about the potential of the metaverse. In his opinion, this ecosystem manipulates people and monitors them in real time.
Is a new Matrix waiting for us?
@finsignal
🇧🇷 The first beach Bitcoin carnival will be held in Brazil
Praia Bitcoin Brazil will hold the first bitcoin carnival in the history of the crypto world in the Brazilian Gericoacoara - for the popularization of the non—banking economy and the development of poor regions with the help of digital currency.
The goal of the large—scale project is to attract the maximum number of people to the BTC ecosystem. They will be taught how to use the crypt, and sellers will be shown the advantages of settlements in bitcoin. The participants of the event will be told about the Lightning network, which makes it cheap and easy to make BTC payments.
6 well-known speakers are expected to speak, but their names have not yet been disclosed.
A four-day event with a carnival performance on the topic of bitcoin will start on February 18.
A VIP ticket will cost 0.021 BTC, and tourist and resident tickets are sold at 0.005 BTC and 0.000021 BTC. The last category of tickets is available only to local residents.
@finsignal
The Indian Cricket Council urged teams not to advertise the crypt
The Cricket Council of India (BCCI) has asked the teams of the women's Premier League not to advertise digital currencies and blockchain companies. The first season of women's cricket in the country will open on March 4.
Representatives of the BCCI and the league refuse to comment on the call for a boycott of the cryptosphere. Most likely, the fact is that earlier at cricket tournaments, Indian movie stars (Amitabh Bachchan, Ranveer Singh and Salman Khan) actively advertised digital currencies and investments in crypto.
Indian Prime Minister Narendra Modi earlier spoke with alarm about the growing interest of the younger generation in cryptocurrencies and insisted on limiting crypto advertising.
Curiously, the International Cricket Council (ICC) acted as a partner of the FTX crypto exchange until its collapse. Its logos flashed at the world championships, but disappeared as soon as FTX started having problems.
@finsignal
The rise of bitcoin was the result of a $23,000 resistance breakout
According to the WhaleMap team, a strong resistance zone was formed earlier in the $23K area and bitcoin could not resume expansion for a long time. The BTC breakthrough that we observed last night was made possible by overcoming this important milestone.
✅ Researchers believe that the $23,000 mark will become a cryptocurrency support zone. Whale wallets will try to help the coin survive if a new phase of sales begins on the market.
Technical data hint at a breakthrough to $27,100, where a whale cluster has formed — and so far this is the nearest zone of powerful resistance. It will be extremely difficult to break his BTC, but there are still chances.
✅ Do not forget that if bitcoin approaches $27,000, large addresses can dump part of the cryptocurrency for the sake of profit-taking.
@finsignal
Will the SEC deprive crypto companies of the rights to work with institutions?
The U.S. Securities and Exchange Commission (SEC) will limit the opportunities for investment, pension and hedge funds to cooperate with the crypto business. The SEC can report this today, Bloomberg writes.
Then crypto companies will find themselves in a difficult position, since they will practically lose the ability to serve institutional investors. Market participants providing digital asset storage services will be the first to suffer.
The SEC press service refrains from commenting, and the essence of the restrictive measures remains unknown. But rumors about the tightening of US control over the industry traditionally provoke a drop in the cryptocurrency market.
Currently, pension and hedge funds can only use the services of qualified custodial services. If the SEC is persistent, many institutions will have to withdraw some of their capital from the cryptosphere.
@finsignal
🔍 Traders are waiting for a correlation break between altcoins and the Nasdaq index
Digital currencies remain heavily dependent on the US stock market. Yesterday's rebound of bitcoin and altos is the result of the strengthening of Nasdaq and shares of IT companies. In the crypto community, this race is timed to coincide with Valentine's Day, notes Santiment.
Nevertheless, traders are still waiting for the weakening of altcoins' dependence on Nasdaq dynamics. In their opinion, the correlation gap will create conditions for the entry of the crypto market into a bullish phase.
Investors do not exclude that the result of reducing the dependence of digital currencies on IT stocks will be the so-called "altseason" — a period when altcoins demonstrate significantly greater performance than bitcoin.
✅ Now the leading violas are growing. Ether, for example, recovered from a fall below $1,500 and may return to values above $1,600 today.
@finsignal
🇭🇰 Hong Kong plans to lift the ban on retail crypto trading
The Securities and Futures Commission (SFC) of Hong Kong is ready to lift the ban on crypto trading for small investors. The previously introduced restriction caused dissatisfaction of citizens.
The regulator is preparing to ease the policy, as Hong Kong traders have started using offshore schemes and investing in digital assets through foreign platforms.
The SFC statement notes that all crypto exchanges must be registered in accordance with local legislation. The regulator has given blockchain companies time to register until June 2024.
The SFC wants to find a balance between protecting consumers and creating conditions for the development of the industry.
Retail traders will be able to invest only on licensed exchanges in large digital currencies with large capitalization that meet a number of market criteria.
@finsignal
FRB San Francisco in search of a CBDC specialist
The Federal Reserve Bank of San Francisco is using LinkedIn to search for a software engineer - CBDC specialist.
He will help the Federal Reserve develop the systems necessary for testing the digital version of the US dollar, and will also do research work. This expert can claim an annual salary ranging from $110,300 to $176,300. 45 applicants have already shown interest in the vacancy.
The engineer will interact with other developers in the structure of the Federal Reserve. Together they will search for optimal solutions for the implementation of the CBDC project. And they will also advise the leadership of the Federal Reserve on all technical issues.
@finsignal
At what level can Bitcoin count on support
The BTC strong support zone has formed in the range from $21,700 to $23,700. According to IntoTheBlock, 1.6 million addresses here previously purchased 1.32 million BTC.
According to Ali Martinez, bitcoin will have chances to rebound to $27K if it withstands the pressure and does not fall below this level.
✅ BTC is approaching the $25,000 milestone again this afternoon. During European trading, it rose to $24,902, and then retreated to $24,795. During the week, the capitalization of bitcoin increased by 14.40% to $478.628 billion.
✅ The pressure may soon increase. Some traders will try to earn up to $25,000 on a dash and dump some of the coins.
CryproQuant indicates alarming signals: the BTC balance is growing on exchanges, that is, its implementation is being prepared. At the same time, there is an outflow of stablecoins from exchange deposits. The pressure may increase in the near future.
@finsignal
❓ DeFi: what is it and who needs decentralized finance
The introduction of cryptotechnologies into the economy has led to the emergence of a fundamentally new system of decentralized finance — DeFi. Experts call its main difference from the traditional model transparency and openness of all processes.
@finsignal
🐳 Thanks to the whales and the USDC
Another trigger for bitcoin's turbulence and rebound this week was a surge in whale activity. BTC soared by $2,000 in a matter of hours — partly thanks to the whales.
According to Lookonchain, an unknown address, probably belonging to institutions, redistributed $1.6 billion to the USDC. The wallet became active at the time of bitcoin's fall. After that, $155 million in USDC went to exchange addresses.
✅ The same whale transferred $400 million to the USDC exchanges on February 10 — shortly before the bitcoin rebound. Two more of his "brothers" brought $1 billion and $143 million to the USDC trading platforms.
✅ Usually, stablecoins are sent to exchanges to buy cryptocurrencies, and such movements are accompanied by increased volatility. In the procurement of whales, the asset, as a rule, begins to become more expensive. And these addresses usually go hunting when the asset has found the bottom, and its deep drawdown is unlikely.
@finsignal
🔍 Bitcoin's February jump benefited miners
The bitcoin race has raised the quotes of blockchain industry companies. But the rebound of industry securities looked more modest than the success of BTC.
So, Coinbase shares rose by 3% in the middle of the week, and the securities of MicroStrategy — one of the largest holders of bitcoin — added 2%. The shares of the Marathon Digital miner rose by 4%.
According to Mark Connors, head of the 3iQ research unit, the correlation between bitcoin and IT sector stocks is gradually weakening. The collapse of Terra and FTX accelerated the flight of alarmists and speculators from the crypto world. The market has cleared and become more mature.
At the end of 2022, the prerequisites for an early rebound of bitcoin and altos were formed. Last year, digital assets were oversold. In December, traders were calculating losses and preparing for a breakthrough, said Richard Miko, head of the Banxa blockchain company.
@finsignal
🗯 The euphoria bubble burst: DOGE went down
On February 16, Dogecoin soared to $0.0903, and today the coin has adjusted to $0.0863.
According to Santiment, during the DOGE race, the number of posts devoted to the meme asset rally on social networks increased sharply again.
The hype was also growing on Thursday, so the drop in Dogecoin that followed the pump was the expected outcome for analysts.
Santiment reminds — when positive and greed about a particular coin increases in social networks, it will soon begin to lose value. There is a stable negative correlation between the "crowd sentiment" and the crypt rate.
Ali Martinez adds that the February hype around DOGE turned out to be the most powerful since October 2022, when the token shot up by 16%. And the current correction is a direct result of the pumping that peaked this week.
@finsignal
The volume of daily liquidation of positions on exchanges exceeded $181 million
The aggravation of volatility provoked another large-scale liquidation of positions in the futures market.
✅ According to CoinGlass, in 24 hours the exchanges canceled positions for $181.25 million. In bitcoin and ether — by $67.75 million and $38.21 million, respectively.
The BTC jump above $25,000 improved the sentiment of institutional investors. Open interest in Bitcoin futures rose to $11.634 billion on February 16.
A similar situation has developed in the BTC options market. The amount of contracts deployed yesterday reached $8.195 billion, the highest value since April 2022.
✅ Next Friday, the monthly expiration of BTC options will take place. Most bullish Call contracts are focused on ending February at $28,000. Bears will try to keep bitcoin in the range of $23,000 to $24,000.
@finsignal
🤔 Tencent intends to conquer the metaverse with MultiversX
The MultiversX team will act as a partner of the technology giant Tencent, which plans to actively expand its presence in the metaverse. MultiversX will help the partner in the implementation of Web3-based projects.
The creation of new products will be handled by the Tencent Cloud division, which is part of the structure of the technology giant. MultiversX explains that Tencent is interested in developing a wide range of areas, including the blockchain industry and artificial intelligence.
The Chinese IT company is betting on the expansion of infrastructure, the creation of hubs for Web3 projects and payment services. Therefore, cooperation with MultiversX will be fruitful.
According to Leo Lee, Vice President of Tencent Cloud, the company supports the global Web3 community and is ready to build bridges between the virtual and real worlds.
@finsignal
⚡️ BUSD capitalization decreased by 1 billion in a couple of days
Paxos actively burns BUSD and pays out real dollars on demand.
@finsignal
Only 4% of Spanish companies are ready to work in the metaverse
A survey conducted by the national business school ISDI showed that so far only 4% of Spanish enterprises are ready to provide services in the metaverse.
40% of respondents still do not understand how to use Metaverse's capabilities in business.
25% admit that they have not yet realized the essence of the concept of virtual space.
14% complain about the lack of technical tools for entering the metaverse.
28% are not just studying the benefits of virtual ecosystems, but are also looking for specialists to work in Metaverse.
"The success and penetration of Spanish companies into this new universe will depend on the speed with which they will be able to adapt to the coming radical changes," concludes Rodrigo Miranda, CEO of ISDI.
@finsignal
🐳 Since mid-January, whales have invested $60 million in Polygon
Polygon (MATIC), one of the TOP 10 cryptocurrencies, jumped by more than 10% to $1.38 as a result of the overnight surge, and its capitalization exceeded $12.037 billion.
Ali Martinez, referring to the data of Santiment, notes that the largest addresses with a balance of 10 million to 100 million coins carried out the pumping of Polygon. Whales have purchased 55 million MATIC for $60 million since January 16. Now there are 234.59 million whale wallets on Polygon (from 10 million to 100 million coins).
Martinez believes that altcoin has not exhausted the potential for further growth. If the $1.21 support works, MATIC will be able to demonstrate greater performance in the coming days.
The analyst points to two MATIC support zones: the upper zone is located at $1.21, where 19,000 addresses purchased 1.16 billion coins, and the second one is at $1.03. Here 47,000 wallets bought 4.72 billion coins.
@finsignal
Ripple donates 1 million XRP to victims of earthquake in Turkey
The crypto community immediately reacted to a series of devastating earthquakes in Turkey. Companies and private investors collected and sent donations to eliminate the consequences of the disaster.
Ripple, which allocated 1 million XRP to assist Turkey, did not stand aside either. The funds are intended for four non-governmental organizations supporting earthquake victims. Ripple transferred them $250,000 in the crypt.
This money is intended for the purchase of basic necessities for citizens of Turkey and Syria, who also found themselves in the epicenter of the earthquake.
@finsignal
🇰🇿 In Kazakhstan, the property of a Russian was arrested for connection... with "shadow crypto exchanges"
In the republic, by the decision of the local court, the property of a citizen of the Russian Federation, estimated at $ 188,000, was arrested.
The Financial Monitoring Agency of the Republic of Kazakhstan explained that the arrest was carried out as part of the investigation of the case of shadow crypto exchanges.
According to Kazakh law enforcement officers, the Russian was part of a criminal group using digital currencies to legalize criminal income.
"According to the court's rulings, the suspect's real estate was seized in the amount of 85 million tenge, including digital assets (cryptocurrency) placed on the Vipapse crypto exchange in the amount of $2,420," the Financial Monitoring Agency summarizes.
@finsignal
Will 2023 be the year of bitcoin accumulation and hoarding?
According to CryptoQuant analysts, 2023 may be the next stage of long-term accumulation of bitcoin.
Last year, the market was dominated by bearish sentiment provoked by macroeconomic factors and other risks. As a result, bitcoin collapsed to a two-year low and recovered slightly only by the beginning of 2023.
However, the largest digital currency is still well below the record values reached in 2021. It is this factor that stimulates investors' willingness to continue accumulating BTC.
In 2023, most likely, we will not see a breakthrough, analysts say. But CryptoQuant believes that the current year may be decisive for bitcoin hodlers. They always aggressively buy at the bottom when the market is stagnating.
@finsignal