55082
▪️About blockchain, cryptocurrency and crypto technologies. ▪️Actual entry and exit points in the cryptocurrency market 🔹Channel: @finsignal 🔹Buy ads: https://telega.io/c/finsignal
Who would tell Butorin, who writes articles about difficulties, that newcomers have difficulties not with the interfaces of crypto wallets, but with ether commissions for sending tokens.
And the developers of these crypto wallets have difficulties with adapting the application after its endless forks.
#BTC/USDT 4 HOURS ✅
BTC is on the agenda again today👇
But yesterday, despite the increase in the rate, the BTC went up, pushing off from the lower boundary of the wedge, but could not break through the local trend, which repeatedly restrains growth. I think there will be a breakout, but you should not count on an impulse growth in the $ 35,000 zone, no, there will simply be a collection of stops on the jubilant mood of buyers. I remind you that we are still moving in a large ascending channel, such a pattern is breaking down and it is its penetration that will send us to correction to the support of $ 24,400 - $ 25,300. Among other things, friends, we have formed a "symmetrical triangle" pattern on the chart, now I expect the movement to continue in a narrowing range. The movement potential of such a pattern is equal to the length of the first wave, which will allow us to go to the ~ $32,000 zone when going up and collect liquidity there, because this is a trend continuation figure. But already from the upper border of the channel, you can watch the reaction, most likely we will restrain growth and go down, followed by a breakdown of the lower border and sending for correction. We will observe 💡
⚡️ Assessing the severity of the #Bitcoin bull market corrections that occurred during the main cycles, our current maximum drawdown of 18.6% pales in comparison with historical precedents:
🟡 2010: 49.4%
🔴 2011: 71.2%
🔵 2015: 36.0%
🟢 2018: 62.6%
The daily volume of transactions in the Bitcoin network has updated the historical maximum on May 1. The indicators reached 685,711 amid the excitement associated with Ordinals. The previous maximum of the indicator was recorded on December 14, 2017 at the level of 490,459.
Читать полностью…
#APT/USDT 1D ✅
Another interesting setup for the medium term. I think many people have heard about APT – there was also a lot of noise 💭
Aptos – the first-level blockchain is designed for mass adoption of Web3 and wider use of DeFi. A relatively new coin, but with great potential 📈
So, technically we see a beautiful unhurried correction. The price adjusted the momentum to 0.618 Fibonacci level. In this zone, we have a support of $9.80- $11, from which we can consider positions in long. I would throw another limit lower near the 0.786 Fibonacci level, in the support zone of $7.285 - $8.257. Also, friends, we have a downward trend line that has already been broken. A trending retest is also available 💡
I would look at the targets at the levels of $13.55 and $ 18.21 🪙
🔥 #Microstrategy DID NOT sell $BTC in 2023
They have 140,000 BTC on their balance sheet — the company's total revenue for the first quarter was $121.9 million
They write on Twitter: Binance has closed futures trading in Australia and liquidated all positions
@finsignal
How many cryptocurrencies are there in the world?
Cryptocurrency is a virtual asset that has no physical counterpart in the fiat world of traditional finance. Almost all digital currencies are decentralized, i.e. they do not have a single authority and control center. This means the complete absence of regulators in the person of central banks and other management or controlling structures.
@finsignal
Deutsche Bank is testing blockchain capabilities in asset management
Deutsche Bank, in partnership with Memento, successfully completes testing of the Project DAMA solution, which allows effective management of digital assets.
The Monetary Authority of Singapore (MAS) supported Project DAMA, calling it a tool that stimulates the development of fintech.
Deutsche Bank reminds that access to and management of digital assets are complex procedures that require solid knowledge, a lot of time and readiness for high risk.
DAMA will automate this process and make it easier for institutions to access the digital asset market. Project DAMA will soon become a universal platform for managing investments in crypto funds.
On this platform, institutions will be able to contact fund administrators, custodial services and other counterparties.
@finsignal
🇮🇱 Israel is preparing to regulate stablecoins
The Bank of Israel has published the main criteria for regulating stablecoins. This is not a bill, but recommendations to the government. A similar initiative was announced by the Israeli Ministry of Finance in November 2022.
The Central Bank proposes to allow the use of stablecoins in the country, but it is necessary to minimize the risks. Algorithmic stablecoins deserve special attention against the background of last year's UST collapse. If their popularity grows, the regulator is ready to ban the use of such "stable coins".
Other stablecoins that do not have liquidity problems can become legal instruments. But the regulator must constantly analyze the financial performance of these assets and their issuers licensed by the state.
The public discussion of the initiative will last until March 15. Then the Central Bank will send it to the government — in the format of a bill.
@finsignal
🔍 The winter rally is the result of the redistribution of capital between USDC and BTC
The impetus for the bitcoin run in January-February was a large-scale redistribution of funds between the USDC and bitcoin, according to Santiment.
Over the past two months, the number of USDC whales (addresses holding this stablecoin for amounts from $100,000 to $100 million) has decreased by 7%. Their capital went into bitcoin, stimulating the winter rally.
✅ After the November collapse of the FTX, the reverse dynamics was observed. The capital went to the USDC, because it was this stablecoin that was considered the safest tool, since its issuer, Circle, is under the control of American regulators.
Currently, the number of USDC addresses with a balance from $100,000 to $100 million is 19,547. It has decreased by 2,001 wallets.
✅ Today, USDC with a capitalization of $42.192 billion ranks second in the rating of stablecoins after USDT.
@finsignal
🇳🇬 Bank of Nigeria is looking for partners to "reboot" eNaira
The weak pace of the introduction of the national digital currency causes dissatisfaction with the Central Bank, which is negotiating with developers to update the CBDC project.
The regulator requires a complete "reboot" in order to attract more users. According to Bloomberg, the Bank of Nigeria wants to control the CBDC project in every detail.
The New York company R3 is responsible for technical issues. Another American partner, Bitt, assisted in the release of eNaira in October 2021.
The Bank of Nigeria and representatives of R3 declined to comment. Bitt reported that the authorities of the African state are cooperating with several counterparties, including Bitt.
Less than 1 million people have downloaded digital wallets from eNaira. The central bank is dissatisfied with this result and the modest volumes of transactions with tokens.
@finsignal
🎮 The most active users of blockchains are recognized... gamers
Activity on blockchains has decreased markedly over the past year. Today, it is stimulated by gamers, according to DappRadar researchers, and blockchain gaming remains one of the most popular areas in the industry.
In January 2023, 48% of transactions on blockchains were carried out by users of gaming applications. Against this background, last month the cost of gaming tokens — on average — soared by 122%.
DappRadar calls Gala the leader in performance, which showed 218% growth.
✅ Most of all wallets are registered on the Wax blockchain, popular with gaming services.
The top five networks included Hive, Polygon, BNB Chain and EOS.
Investments in blockchain gaming are growing due to the popularity of gaming applications. In January, their total volume reached $156 million. In addition, DappRadar points to the rise in popularity of Web3 and metaverse services.
@finsignal
Whale swim provoked the rise of Chanlink to a maximum in 4 months
Analysts at Santiment pay attention to the surge in activity of one of the Chainlink whales. This giant has made the biggest swim since June 2022.
Last night, the whale redistributed $106 million — 13.01 million LINK. Against this background, turbulence returned, and the altcoin reached its highest level since the November collapse of the FTX exchange. LINK rebounded to $8.34, but could not hold the position and today retreated to $7.8.
✅ In weekly terms, the capitalization of Chainlink increased by 17.6% to $3.961 billion. The asset is on the 21st place in the rating of digital currencies.
Santiment reminds — whale activity always contributes to the return of turbulence. The digital currency reacts to dumping, moving or pumping, in which the largest investors take part.
@finsignal
Biden wants to get rid of the crypt
Florida Governor Ron De Sanctis said the state will soon pass legislation against central bank digital currencies (CBDC). DeSantis criticizes centralized digital currencies, but expresses support for decentralized cryptocurrencies.
DeSantis accused President Biden of wanting to use technology for surveillance and control. Legislation banning centralized digital currencies in Florida was first announced in March.
De Santis' comments came amid talk of possible strict control over the crypto sector by American regulators. In particular, the Coinbase crypto exchange has filed a lawsuit against the regulator and calls for clear rules.
DeSantis argues that the upcoming legislation will provide preliminary protection against the US central bank's digital currency, even if it does not yet exist.
🚫 SEC slows down the development of regulation in the crypto sector
The regulator planned to give an official definition of a "digital asset", but on Wednesday erased it from the document on mandatory disclosure of information about assets by hedge funds.
The note states that the exact definition is still being considered and will be adopted later. Earlier, the SEC included in the definition of the term "exchange" the possibility of such platforms to conduct trades in decentralized assets.
However, this caused discontent among 2 out of 5 commissioners of the regulator. And the actions of the SEC over the past year show a clearly negative attitude towards the crypto industry and everything related to it.
What will the Securities and Exchange Commission do next?
The crypto market almost did not budge after the Fed's next rate hike by 25 bp last night, unlike the S&P500, which is a good sign of a decrease in the correlation of crypto with stocks
Читать полностью…
The Biden administration is seeking to introduce a tax for miners, according to which it is planned to charge 30% of the costs of mining companies for electricity
Such a tax could bring an additional $3.5 billion to the budget over the next 10 years.
💁🏼♂️ Guess what Bitcoin was growing on again yesterday?
PacWest Bank shares were down 42% today, and Western Alliance shares were down 27%. The banking crisis continues, and the Democratic Party is calling on the Fed to stop raising interest rates so as not to cause too much damage to the economy.
We add here a pinch of the US national debt, where default may happen as early as June 1. And we get the perfect storm for the crypt.
Here are some more thoughts for the bullish trend on #BTC 🪙
Читать полностью…
In the SWIFT document on the implementation of Proof of Concept in the "Cryptocurrencies" block, for example, it is $XRP #Ripple that is used, and not $BTC or $ETH
@finsignal
A federal Judge Ruled that NFT-Moments NBA Top Shot Can Be Considered Securities
Rejecting the petition of Dapper Labs CEO Poham Garegozlow to refuse to file a lawsuit alleging that his firm violated securities laws by selling NFT-Moment NBA Top Shot
The main argument of the lawsuits was the lack of standard registration and disclosure of information applicable to other investment contracts
@finsignal
TOP 10 blockchains: maximum investments in 2022 collected projects on Ethereum
The rating of blockchains by the number of deployed projects is traditionally headed by Ethereum. It is not surprising that by the end of last year, he became the leader in terms of funding attracted by startups using the power of ETH, writes CryptoRank.
As part of the 191 funding rounds, Ethereum projects received $7.76 billion from investors.
✅ The second place with $2 billion of attracted capital is occupied by BNB Chain.
✅ Closes the top three leaders of the Polygon blockchain. Projects based on this network attracted $1 billion in funding last year.
✅ The fourth place belongs to Solana with $873 million.
Cosmos, Near, Polkadot, Avalanche, Fantom and Cardano are among the top ten blockchains.
@finsignal
❓ Stablecoin: what is it and why is it needed
The extreme volatility of cryptocurrencies is the main reason for the caution of investors who do not want to invest in a very promising industry. The solution to the problem can be stablecoin — a special type of asset that is not subject to excessive fluctuations in the exchange rate characteristic of other digital currencies.
@finsignal
Is SOPR signaling a spring Bitcoin rally?
Bitcoin's winter expansion seems to be running out of steam — the coin can't hold on to $25K. BTC fell to $24,090. The risk of a pullback below $24,000 has increased.
But Ali Martinez remains optimistic. Judging by the dynamics of the SOPR index, the current situation is similar to the situation at the turn of 2018-2019.
✅ SOPR fell to 0.914588 in November, and most traders sold at a loss. But in January, the index exceeded 1, and the sale became profitable. This was the case in December 2018 (SOPR drop) and April 2019 (rebound above 1).
According to Martinez, with a SOPR above 1, the risks of sales are leveled, and the pressure on the asset will weaken. Then the bullish trend may return to the market.
The analyst points to areas of strong support for BTC — from $22,659 to $23,325 and from $20,426 to $21,167. At the first level, 1.41 million addresses purchased 711,550 BTC, and at the second 933,690 wallets bought 542,160 bitcoins.
@finsignal
🤔 Ether is preparing to break the resistance at $1,700
From February 13 to February 16, ETH jumped by 18%. Altcoin reached $1,732, but sellers' pressure increased in this range. As a result, the ether began to lose ground, and on the morning of February 22, it fell to $ 1,633.
To assess the future prospects of the coin, it is necessary to take into account the sentiment in the crypto options market, and they remain neutral-bullish.
Investors are afraid of the tightening of the regulatory framework regarding the blockchain industry and the consequences of updating Shanghai on Ethereum.
Futures premiums are slowly rising, which inspires little optimism. Traders do not rule out a new breakthrough if the policy of crypto regulation softens, and the industry can breathe easy.
Ether is able to break through the resistance at $ 1,700 during the next assault and transform this mark into a support zone.
@finsignal
🇺🇸 California Launches a Crypto Scam Detection System
The California Department of Financial Protection and Innovation (DFPI) has announced the launch of the Crypto Scam Tracker. The system is able to identify fraudulent projects in the crypto world in real time.
The software analyzes projects and informs about complaints filed by victims. The investor can study the collected data and make an informed decision, minimizing the risk of losing funds. The Crypto Scam Tracker database will include companies and projects detected in suspicious activity.
According to DFPI, the service will increase the effectiveness of the fight against fraud. The regulator receives thousands of complaints from victims of crypto scammers every year.
Criminals take advantage of the growing interest of citizens in digital currencies and come up with new tricks. Therefore, the issue of consumer protection is extremely relevant, said DFPI Commissioner Clotilde Hewlett.
@finsignal
👀 Bitcoin traders have moved to cautious profit-taking
BTC has stormed the $25,000 mark several times, but is not yet able to gain a foothold on this important milestone and finally break the resistance. On Tuesday afternoon, the coin sank to $24,600.
The Glassnode report notes that a powerful breakthrough is not yet possible due to the transition of traders to profit—taking. The SOPR index slightly exceeds 1, which means that the implementation of the cryptocurrency is profitable.
✅ But there is no panic reset. That is why bitcoin retreats minimally after another attempt to jump to $ 25,000. Profit-taking is still moderate, analysts emphasize.
According to IntoTheBlock, the share of profitable bitcoin addresses in the network is now 70%, and 27% of cryptocurrency holders are still at a loss. At the same time, 3% of investors are in the break-even zone.
@finsignal
🇺🇸 The USA will study in detail the EU experience in the field of crypto regulation
The US Congress is sending representatives to Brussels and Paris to familiarize themselves with European developments in the regulation of the crypto market.
Overseas guests will study EU legislation and discuss options for regulating the blockchain industry. They will meet with lobbyists of the interests of the crypto world, members of the European Parliament, the leadership of the European Banking Authority and the European Securities and Markets Authority.
Americans will pay special attention to the MiCA bill. The final vote on this document has been postponed to April-May. MiCA can become an exhaustive regulatory framework for regulating transactions with digital assets. But the bill will be supplemented taking into account the development of new directions in the cryptosphere.
It seems that Washington intends to take the MiCA concept into account when creating its own legal framework for the blockchain industry.
@finsignal