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Here;s the Analysis of #OCEAN :
#OCEAN is rejected off from the Major Resistance Zone of $1.28 - $1.35 and kinda ranging. Price also forming the triangle pattern and moving. Well, its waiting time for us, as it need to break either side. But the break above will required a flip above the Major Resistance, So the Plan it Accordingly.
#DXY UPDATE :
#DXY gone perfectly but made the overall market dump, as Dollar going Strong. Now, index broke the resistance area and expected to reach the next resistance area of 104.8 - 105.2. Its better to have hit on resistance and then expected some strong push from there to the downside, which is eventually give a growing impact in the market.
Here's the Analysis of #BAKE :
#BAKE is kinda moving in a large range and rejecting both side of the zone. Price was moving very correctively as the moment and middle of the nowhere. The good point will be wait for a rejection from the support around $0.34 - $0.35 (Blue Zone) and thereafter look for entries.
#FRONT broke the falling wedge pattern but the breakout was very weak. Price started consolidating after that and now all we have to di is wait for the breakout. Dropping back to the support will be the good point for buys and break above directly will be give buys on retest.
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- FA & TA.
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Exchange: Pancakeswap
Stay tuned. Happy trading 😊
What Is an Off-Ledger Currency?
An off ledger currency isa currency which does NOT reside on blockchain or other distributed ledgers, which includes all currencies employed by nation states. While an off-ledger currency isn’t developed specifically for a blockchain, they may be used in it thanks to their utility and wide acceptance. For instance, Ripple’s Ripplenet and the Stellar blockchain may be able to transfer and convert off-ledger currencies worldwide via their bridge currencies, XRP and XLM, respectively.
Fiat money is an example of an off-ledger currency since it is issued by the central banks outside blockchain networks. The United States dollar (USD) is a prime example of an off-ledger currency, which is used worldwide because of its worth and is typically held as a reserve currency by most financial institutions. Unlike an on-ledger currency, it is centrally controlled and issued without any limits.
As a consequence, off-ledger currencies do not have any intrinsic value. Rather, their value is derived from a government’s backing and subsequent declaration as legal tender. Central banks’ right to issuance and control fiat money gives them absolute power and influence over the economy. Unfortunately, they can still be counterfeited by malicious actors. And if their issuance is left unchecked, they can incur negative effects to economies.
Unlike an on-ledger currency, they don’t need continuous incentivized computational power (or other consensus mechanism requirements) to exist. Some off-ledger currencies are actually digital fiat equivalents, being used on blockchains like USD or EUR due to their stability and popularity. Fiat-based stablecoins (tokens pegged to the value of nation state currencies) may fall under the definition of off-ledger currencies since their value is still derived from off-ledger currencies.
#TOTAL2 QUICK MARKET UPDATE :
#TOTAL2 didn't made a deep retest and broke the resistance trendline with a similar pattern to #BTC IH&S formed in it. Looks, like the correction is over and we can consolidate for a week here. Now, the inverse Head and Shoulder must needs to break above the $1.17T mark/ resistance to confirm. A break will start push in alts rally and potentially towards the Resistance around $1.35T.
#Bitcoin made a successful retest back to the support, which is good for the market. Now, we can expect a high probable bounce from here and break all its minor resistances and major once too. Also, you can see a Inverse Head & shoulders forming in the market, so chances are pretty higher.
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What Is an Off-Chain Transaction?
An off-chain transaction differs from an on-chain one because it occurs outside of the main blockchain network. It's a solution to the delays and costs associated with on-chain transactions.
Take cryptocurrencies like Litecoin, Ethereum, and Dogecoin, for example. While each has its unique features, they all share the decentralized nature of Bitcoin. They use a network of nodes to validate transactions, enabling users to send money globally, regardless of location.
To address the limitations of on-chain transactions, people turned to off-chain solutions. These second-layer protocols operate outside the primary blockchain, offering faster and cheaper transactions.
The second layer involves projects and protocols built on top of the base blockchain to enhance technology and user experience. When users find shortcomings in a public blockchain, they turn to these solutions for improvements.
Off-chain transactions can be as simple as two parties agreeing on a debt between them. Unlike on-chain transactions, these off-chain deals don't touch the blockchain, allowing for instant execution and minimal fees.
Users can set up channels for off-chain fund transfers, exchanging private keys with their wallets. They can conduct multiple transactions until ready to settle, at which point they record the final value on-chain.
Popular off-chain protocols like the Lightning Network and Liquid Network offer solutions to blockchain scalability issues, ensuring quick and inexpensive transactions. However, they come with limitations, such as the need to lock up Bitcoin in the Liquid Network and finite capacity in payment channels.
Off-chain transactions excel in speed, cost-effectiveness, and privacy. They're ideal for those seeking quick, cheap, and discreet transactions.
#BTC.D UPDATE :
#BTC.D (#Bitcoin Dominance) didn't moved alot but Altcoins got strong dips with the #BTC crashes but Dominance remains nearly the same as it was. This shows strong sustainability as soon as #BTC recovers, alts will start the rally again. Also, Index floating below the resistance is a good sign of that.
#FOMC remain the Interest Rates Same as of now...
#BTC is pumping due to this
What Is an Off-Chain Governance?
In a decentralized governance network, stakeholders vie for influence through various collaborative efforts. This includes engagements across social media, online forums, conferences, and other gatherings, forming the bedrock of off-chain governance practices within public blockchains.
Much like traditional politics, off-chain governance mirrors a complex interplay of interests, with different factions striving to sway support towards their agendas. Unlike on-chain systems, there are no hardcoded rules dictating actions; rather, decisions are guided by the perceived interests of stakeholders in relation to others.
Prominent public blockchains like Bitcoin and Ethereum predominantly rely on off-chain governance mechanisms. Proposed changes undergo extensive deliberations online, involving key players such as core development teams, developers, miners, researchers, and the broader user community. While anyone can participate in these discussions, there's no formal on-chain voting mechanism.
Despite the significant hash power wielded by large mining pools, it doesn't translate into governance rights within Bitcoin. Miners' sole function is to validate transactions, with no direct influence on protocol decisions.
Ethereum follows a similar governance model, with Vitalik Buterin leading the core development team. Discussions surrounding protocol upgrades follow formal channels such as Bitcoin Improvement Proposals (BIPs) and Ethereum Improvement Proposals (EIPs), with stakeholders signaling their support or dissent through various channels.
In cases of disagreement, stakeholders can either persuade others to their viewpoint or opt for a hard fork, allowing them to maintain or alter protocol aspects they deem crucial. While off-chain governance endeavors to accommodate diverse interests, decision-making power tends to gravitate towards core developers and miners due to the lack of binding agreements.
#TOTAL2 (Altcoin Marketcap Update) :
#TOTAL2 sell-off lower from the resistance and might gonna approach towards the support zone of $940B - $956B. There's strong buying opportunity for the accumulation/ buying the dip. There can be some manipulations before a reversal, so stand strong.
#BTC gave a break and close below of the support zone of and made a retest too. Market is dumping heavily and expected to reach the support zone around $58,200 - $59,550. Market was strongly correcting itself, so don't fear and watch it out.
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What Is Odysee?
It is a website that enables the uploading and sharing of videos, allowing its users to publish their work without the need for paying hosting fees. It is also decentralized and censorship-resistant, meaning that there are no servers to shut down or block.
Through the Odysee app, you can create your own channel, upload your videos to be shared with the world, and subscribe to other channels you enjoy. As a viewer, you can explore content from around the world through channels and hashtags.
Odysee offers a safe home for your videos. But what does that mean in practice? Here are the three pillars of the Odysee platform:
Decentralization means that your videos are hosted all over the world. There is no single point of failure, and no one can take your videos offline. In this way, Odysee is similar to blockchain-based services like LBRY and Bitcoin (where transactions are stored in blocks across a network of computers).
A permanent home for videos is important because many video hosting platforms today have taken down videos for dubious reasons. Odysee ensures that your content will always be available because it would require an enormous amount of computing power to remove the files from numerous computers around the world.
The ability to earn money with your videos is one of the most exciting features of Odysee. By using LBRY credits, you can reward people who view your content directly by tipping them or offering subscriptions. You can also earn tips on other people's content by "liking" or commenting.
Relation Between Odysee and LBRY Network
Odysee is created by the team behind LBRY Network or LBRY Blockchain. Earlier, it used to be lbry[dot]tv
LBRY TV is a media platform that allows creators to set their own price, keep their own ad revenue, and now — host their content. Creators can either choose to host their content on the platform or simply link out to their own website. The platform has the potential to be a major player in creating an independent creator economy without the need for advertisers (or middleman platforms) to generate revenue.
The company believes that its new hosting service will not only help creators generate more income but also protect them from censorship as it’s harder for platforms such as YouTube to ban creators when they’re not hosting the content on their platform.
It sees itself as a community-driven, decentralized Netflix and plans on being home to some of the most popular movies, shows, and documentaries on the internet.
LBRY Network is a blockchain-based, open-source protocol for the creation, distribution, and discovery of digital content. With LBRY, you can buy, rent, or sample videos from major studios, indies, and even YouTube creators!
More ETH is burnt via transaction fees than the amount of new ETH issued. Since the Merge, we have observed a net reduction in the total circulating supply of -410k ETH. Now, This Indicates the lower Circulating supply of #ETH in coming years and eventually impact the price.
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#BITCOIN WEEKLY TF UPDATE :
#BITCOIN made a deep correction now and as always said, its good to have the deep corrections with the rising market. Now, Weekly candle doesn't giving any significant sign but yeah it made its closing below the support of #ATH. But also, price already made a retest back to the lower support too around $62,000. So, You can expect the bullish continuation from next week.
During high-activity events where there is an influx of demand for Ethereum blockspace, fees can escalate to over $30. Prior to Dencun, fees on roll-ups were somewhat dependant on mainchain fees, and have seen their fees increase up to a maximum of $2.50 during similar situations.
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#BITCOIN DAILY TF UPDATE :
#BITCOIN goes as predicted as Structure turned bearish and moving lower it. Price nearly goes towards the support zone and bounced. Well, there're still chances of coming back and as Weekly TF did a stop Hunt of the previous high. Also, you can see Daily TF, is congesting, so a Market structure shift to the bullish side is important.
Here's the Analysis of #JUP :
#JUP is been moving up with the trendline and going through a small correction phrase. Currently, price is retesting the trendline as support and potentially bounce from there. That buys could be a risky one but at the same a good one, so you can accumulate some here and rest at $1.00.
Open Interest Rising/ Remains Same Irrespective to #BTC Price Movement.
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#MASK made its clear move to the upside and rejected the support zone on Daily TF and H4 TF too. If you made the buys then its good or you can wait for a retest back to a formed support before entering or below $4.60 .
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Here's the Analysis of #FRONT :
#FRONT made a rise from its fundamental events of rebranding and now correcting itself. Price kinda ranging between the zone and made a very steep Falling Wedge Pattern. Price is expected to have a bounce from the support zone of $1.66 - $1.22. But Right now, its kinda but unclear, so wait for the breakout either side and ride the move thereafter.
So, let's connect the dots between increased capital coming in and its impact on both the realized capital and, more notably, the Realized Profit metric. This week, we saw the Realized Profit metric spike significantly, surpassing its long-term average by more than one standard deviation due to high levels of on-chain spending.
These developments closely resemble the conditions observed at the onset of previous 'Euphoria' phases, akin to the bull markets of 2017 and 2021.
#Bitcoin reverse off from the itty bity support zone and the major move came with the #FOMC news and Statements. Price now break and close above the zone, shows strong buying pressure and sustaining above it. Now, we can expected the continuation from here but the only problem is the minor resistances, so if you bought the dip then just hodl and watch.
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Here's the Analysis of #MASK :
#MASK is been strongly rejected from the Major Resistance Zone of $5.25 - $5.34 and reached the other end of the market at Strong Support Zone around $4.11 - $4.18. Well, market looks pretty scary Right now, so a close below candle will lead the any short drop in #MASK, so take it accordingly.
The RHODL Ratio is another popular metric for tracking this transfer of wealth from old HODLers to new investors and Speculators. It is constructed as the ratio between wealth stored within in 1-week old vs 1y-2y old coins.
The chart below has highlighted in 🔵 where the RHODL Ratio crosses above its current value of 6.3k. We can see that this indicator is in a very similar position to all prior ATH breaks, suggesting the transfer of wealth is firmly in line with historical precedents.
Binance Will Delist DREP, MOB, PNT on 2024-04-03
https://www.binance.com/en/support/announcement/1e531578a30c46eebf52c8dae3c56092
Here's the Analysis of #AEVO :
#AEVO recently got listed in #Binance and there's not much more data available to analyze and in #LTF price creating lower lows with the market dump and currently price testing the Resistance zone of $2.26 - $2.28 and might got a rejected or break too but levels are still undefined. Its a no trade zone, so better wait for quality opportunities.