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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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#BITCOIN DAILY TF UPDATE :
#BITCOIN on Daily TF, broken the trendline and continuously dropping. Price reached the Mid area of the range and a support area too. Minor reaction is expected not enough to turn the market. Look for the next week so get a clear and positive view in the market.
We can monitor corrections by tracking the magnitude of unrealized losses held by investors, particularly the percentage of coins that have lost their "in-profit" status compared to the local price peak over a 90-day rolling window. This represents new capital entering the market, absorbing sell-side pressure during an uptrend, and subsequently falling into loss during a correction. The depth of these drawdowns in the current uptrend is similar to the 2015-2017 bull run, suggesting a relatively robust market without an excessive volume of coins bought at overly high prices.
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#BTC again dip down back to the support area and nearly got there. Potential price gonna have a retest and a up move is expected. Now, its making mess price action within a range.
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During bull market uptrends, the percent of Bitcoin supply in profit breaks above 90%, signaling the Pre-Euphoria phase and incentivizing long-term holders to take profits after enduring the previous bear market. As prices make a new all-time high, the market enters the Euphoria phase where supply in profit fluctuates around 90% for 6-12 months. The current Euphoria phase is relatively young at 2.5 months, with 93.4% of supply in profit now. Long-term holders distributing to new buyers is a recurring pattern driving these cycles.
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#EDU pin precisely rejected from the support area with the market and straight away hit the resistance area too(red box). Now its time to look for the breakout for potential buys and if you bought at the marked support then hodl it with BE stops as it moved 21% in favor.
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Here's the Analysis of #POLYX :
#POLYX driving with the supporting up trendline and trying to flip above the Major Resistance Area of $0.47 - $0.50. A daily candle close above, which will give the potential buys calls. Take after the candle close and scale-in with retest.
Bitcoin hit a new all-time high of $73,000 in early March, with long-term holders taking profits, creating an oversupply that led to a correction. As prices fell, seller exhaustion set in, allowing re-accumulation. Bitcoin ETFs saw net outflows in April, with a -$148M/day outflow at the $57,500 local low, signaling capitulation. However, the trend sharply reversed last week with a $242M/day net inflow, suggesting renewed buying demand. Notably, this ETF inflow dwarfs the $32M/day selling from miners post-halving, highlighting ETFs' significant impact compared to diminishing miner influence.
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#BTC continues it drop and even goes below the zone, also price pin precisely rejected the key area and turning the break into the fakeout. Well, this could be a reversal but have to see the news upcoming in NY Open Time.
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#ETH UPDATE :
#ETH Broke out of the consolidation and given a successful close below. Daily candle closing shows bearishness in the market and alts gonna strongly fall like nothing after that. Fear is increasing in the market so better stay away from it.
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.
Here's the Analysis of #FET :
#FET continuously dropping within the a huge down trend channel pattern and in between no clear or major support area so go go for buys. Price kept on printing lower lows and shorting will go good.
#TOTAL2 MARKET CAP :
#TOTAL2 is retracing back to the a key flip area of $1.03T - $1.04T, Index now reacting over the support but need to watch-out the zone, it will decide the next altcoin rally. Closing below will lead in a good drop is altcoins, so trade effectively.
Here's the Analysis of #SAGA :
#SAGA just dropping lower after getting rejected from the $2.98 - $3.09 with the break below of the a clean uptrend channel pattern. On the left no support area there right now, only resistance so you can wait for the flip of the resistance around $2.00.
#BTC hodl the flip area and made it way to $70,000 again with the news rejected from resistance with #FOMC meeting back to the same area. More news in ahead in time, this week news, gonna drive the market crazy.
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#BTC.D UPDATE :
#BTC.D played well, as per the analysis, with a breakout. Altcoins have a strong correction in the market right now, with that Index reached the recent highs too, again short-term correction will come, so, don't get into the early as it might be a trap.
Notice of Removal of Spot Trading Pairs - 2024-06-14
https://www.binance.com/en/support/announcement/cbc625e02b784e769eb0d59ac31d3e5a
📉 Bitcoin Market Alert 📉
Over $187 million in liquidations occurred in the past 24 hours as BTC experiences a significant dump. Stay cautious and watch the market closely! 🛑
#Bitcoin