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What Is a Secondary Market?
A secondary market is a place where investors or traders can buy and sell different kinds of assets or securities that they own, with others. In the traditional finance sector, this is usually a place where retail investors trade financial instruments like stocks, bonds, options, and futures.
But the role of the secondary market is to provide access for the average investor financial instruments, which they would otherwise not be able to obtain from the primary market, because a primary market in traditional financial environments is usually reserved for “qualified” investors and large institutions. A secondary market can be compared to a retail store like Walmart, where anyone can shop; meanwhile, the primary market is for suppliers, where wholesalers buy in large quantities.
With cryptocurrencies, the same principle applies. The only difference is that currently the primary market equivalent is largely based on token sale platforms. The restriction here is not the number of tokens, but rather the buyer’s qualifications and appetite for risk. In other words: With crypto, the primary buyers are usually those who can afford to risk their money on a new project, or have heard of it first and manage to grab tokens. The secondary crypto/token market is the place where all the others can then buy tokens after the initial token sale is over.
Updated: Binance Will Support the Fetch .ai (FET), Ocean Protocol (OCEAN) and SingularityNET (AGIX) Token Merge
https://www.binance.com/en/support/announcement/e485541c370240adba3929fded74f269
#CHZ gave a break to the down and dropped around 25.5% in favor break the lower support (grey box) too. Price entered a small consolidation, and a break will take lead in the short-term move in the market.
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Here's the Analysis of #BAKE :
#BAKE is been hard falling below the support and heading towards the Strong support zone of $0.34 - $0.35. There's a trendline and lower support around $0.30 - $0.31, which could be potential rejection area. All eyes on the support nothing can be done in between.
#TOTAL2 MARKETCAP UPDATE :
#TOTAL2 gave a break below of the support zone with the driving market conditions. Index is right now retesting the zone as resistance and a short term down move might come with that. The Major Support area is around $956B.
#ADA tried to hodl the support but failed and given a close below candle. Price got a retest and dumped hard with the market conditions. It a clean shorting opportunity and currently price reached near the support area around $0.35 and could be the next potential area.
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#US30 UPDATE :
#US30 moving as per the projections and Expecting rejecting the resistance and support too. Price stuck between the zones and now need to eye on the breakouts. Never the less, the breakout will drive the dive either side, so take it accordingly.
#BTC haven't moved anywhere, just damaged the altcoins by sharply moving back and forth with that, price is stuck in between though. Expecting some sort of breakout by wednesday at NY,due to news, else this whole weekend will also go in consolidation, so you can wait for it.
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What Are Second-Layer Solutions?
A set of solutions built on top of a public blockchain to extend its scalability and efficiency, especially for micro-transactions or actions. Layer-2 or second-layer solutions increase the throughput and transactions per second of a blockchain by creating additional blockspace or recording transactions in a more efficient manner. Examples include Plasma, TrueBit, Lightning Network and more.
Why Are Layer-2 Solutions Important?
Layer-1 solutions increase a blockchain's scalability and, therefore, its utility. Without them, blockchains often suffer from congestion, slow transaction speeds and high fees. Layer-2 solutions direct transactions away from the mainnet and towards its cheaper and faster alternatives.
What Are The Most Popular Layer-Two Solutions?
There are several popular layer-2 solutions for blockchains like Bitcoin and Ethereum.
Lightning Network
The Lightning Network is a second-layer solution for the Bitcoin blockchain. It allows for much higher transaction speeds and near-instant settlements of payments at quasi-zero costs. The Lightning Network enables users to open channels between parties, where they can send Bitcoin without settling the transaction on the mainnet. Upon closing the channel, the final state is broadcast to the Bitcoin mainnet.
Optimistic Rollups
Optimistic Rollups are second-layer solutions for the Ethereum blockchain. They process transactions off-chain before publishing a compressed version of the new state of the blockchain to the mainnet. Cryptographic proofs check the accuracy of optimistic rollups. Optimistic rollups greatly reduce gas fees. The Optimism protocol uses them to scale Ethereum.
Learn more in our article How to Use Layer-2 Rollups to Avoid Gas Fees.
ZK-Rollups
Zero-knowledge rollups also reduce gas fees while improving transaction speed. They submit cryptographic proof of the veracity of unprocessed transactions without knowing the content of the transactions. This allows the mainnet to process more data and improve the utility of the blockchain.
Learn more about ZK-rollups in our article What Can Zero-Knowledge Technology Do for Scalability?
Sidechains
Sidechains are separate blockchains that process transactions faster and leverage the security of the main blockchain to secure transactions. An important sidechain layer-2 for Ethereum is the Polygon ecosystem.
#GOLD UPDATE :
#GOLD correctively moved upwards and but failing to sustain above the zone. Price did gave a fakeout, so expecting the drop lower supports around $2300 and $2278.
Here's the Analysis of #CHZ :
#CHZ is going lower lows with the market conditions reached on the Strong Support Zone of $0.098 - $0.102. Price look strongly bearish, so this will be the aggressive buy area. The safer option will be wait for the breakouts and rejections.
#DXY UPDATE :
#DXY gave a tiny rejection but made a flip above the resistance area, and retested too. Now, its a bit worrying situation that, market may go lower by next week it sustains over it. Next Resistance is at 106.50% so it might reach out there at 1st pace
Here's the Analysis of #MANTA :
#MANTA printing lower lows with now proper support at its back. Its a good long-term project and, nothing much can be done here. Either just DCA or wait for the price to the support area.
As prices rise due to increased buying pressure, the role of the opposing selling pressure from long-term holders (LTHs) becomes more significant. We can evaluate the unrealized and realized profits of LTHs to gauge their incentive to sell and actual selling activity. The MVRV Ratio for LTHs, reflecting their average unrealized profit multiple, historically trades between 1.5 and 3.5 during the transition from a bear to a bull market, lasting up to two years. If the uptrend persists and new all-time highs are formed, LTHs' unrealized profits will expand, increasing their incentive to sell and potentially exhausting demand-side buying pressure.
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🚨
LayerZero (ZRO) Listing Will Be Postponed
https://www.binance.com/en/support/announcement/86d3d85e975b4eba802ed65951d69dbdLayerZero
The inscriptions sector has grown since early 2023, we can see how the cumulative total inscription count has expanded. The number of inscriptions has reached 71M at the time of writing, however, since mid-April this year, the popularity of the protocol has declined markedly.
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#BTC trying to turn the market structure and broken internally, Still, its below the inside the zone moving internally. Hopefully this could lead to a reversal and broke structure too.
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The decline in Bitcoin address activity seems to be primarily caused by a reduction in the usage of Inscriptions and Ordinals. It's worth noting that many wallets and protocols in this sector reuse addresses, which are not counted multiple times if an address is active more than once in a day. So, if a single address generates ten transactions in a day, it would be counted as one active address, but with ten transactions.
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#BTC kept on getting lower lows and lows high and broken the support on H4 TF. On Daily TF its clean rejection and now a reversal is expected, to be bullish we need to see a break of trendline and resistance area, which is nearly $67,500.
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Despite the historical confluence between strong market momentum, and an expansion of active addresses and transaction counts per day, a deviation in this trend is underway.
The present monthly average transaction count resides at 617k/day, which is 31% above the yearly average, and signifies a relatively high demand for Bitcoin blockspace.
More than $500M+ were liquidated in past 24H and now its $480M+
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Notice of Removal of Margin Trading Pairs - 2024-06-19
https://www.binance.com/en/support/announcement/be3b189044584849b1344fa36baf49a7
#ETH UPDATE :
#ETH cleared liquidity from the lows and move with strong momentum. Price gave the minor structural shift and there it good amount of liquidity siting on the top. Price also moving back and forth from the key resistance area, so eyes on break to the upside.
The Bitcoin network is currently experiencing similar contraction in network activity, albeit, with entirely different drivers. In the following sections, we shall explore how the advent of Inscriptions, Ordinals, BRC-20s, and Runes have significantly altered how on-chain analysts should perceive activity metrics moving forwards.
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#BTC weekly candle close strongly bearish and dropped back lower to support now. Price going though the correction phrase and might dip once again, so need to see a breakout sooner anytime, annotations marked with the charts
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We'll evaluate long-term holders' (LTHs) spending rate via their 30-day net position change. During the run-up to March's ATH, LTHs saw major distribution. In previous bull markets, LTH net distribution peaked at 836k-971k BTC/month. Currently, it peaked at 519k BTC/month in late March, with 20% from Grayscale ETF holders. This high-spending was followed by a cooling period, with LTHs accumulating around +12k BTC/month
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#BITCOIN WEEKLY TF UPDATE :
#BITCOIN on Weekly TF, did exactly what we predicted and rejected played out well though. Due to rejection price dropped back tot he support area and now retesting the support zone as mentioned for it. Candle close will play important role here, so eyes on closure and by next week we need to see a breakout, which will support the either side trend.
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#TOTAL MARKETCAP UPDATE :
#TOTAL MARKETCAP stayed intact with the resistance area and dropped hard. Analysis played well though, market dumped as mentioned. Right now, Index on a support and need to wait for the Daily candle close. Close below will have the clean range to move lower support so stay alert on this.