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From Dec 2022 to Jan 2023, the bottom of Bitcoin was marked as the Ribbon reached its conditionally upper point and gradually turned from top to bottom.
In Feb 2023, a rapid decline in the Ribbon began, signaling a steady development of the bullish trend.
#BTC gave a breakout of the small consolidation range and made a rejection again. Well, we might see a continue pushing lower or a flip above the area will open room for #31,000 mark.
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What is Bid-Ask Spread ?
Bid-Ask Spread refers to the difference between the highest price that a buyer is willing to pay (bid) for a particular asset and the lowest price that a seller is willing to accept (ask) for the same asset. In other words, it represents the gap between the highest price a buyer is willing to pay and the lowest price a seller is willing to accept at a given point in time and the difference between Bid and Ask is Called Spread.
The bid price is the maximum price a buyer is willing to pay for an asset, while the ask price is the minimum price a seller is willing to accept to sell the asset. The bid-ask spread reflects the market's liquidity and provides an insight into the supply and demand dynamics for a particular asset.
A narrow bid-ask spread usually indicates a liquid market with high trading activity, as there is little difference between the prices buyers are willing to pay and sellers are willing to accept. Conversely, a wide bid-ask spread suggests lower liquidity and potentially higher transaction costs, as buyers and sellers are not in agreement on the price.
#FIO in #USDT pair also performed the same and made a high of 83 satoshi which is 13.7% in profits. I hope you're enjoying our free signals.
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#BTC still consolidation, not a good movement. Price taking a pullback back to the top of the range and reject. It's waiting time as volume id dead and too much indecision in the market.
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#PayPal launches #stablecoin on #Ethereum, citing 'shift toward digital currencies'
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Our #DeFi index consists of the top 8# DeFi tokens by market cap, and has established an almost two-month-long uptrend relative to ETH. This is the first outperformance since September 2022, and with very similar performance thus far.
DeFi Trend Coming Back ?
#BTC still remain the same and made up a new consolidation range and hopefully, it will move lower. Tiny pullbacks might happens and as Weekly candle closed bearish, so keep in mind of that, we might push lower within this week or by next week,
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4 hours left until the biggest pump signal of all time!
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Here's the Analysis of #SOL :
#SOL is been trending through the downtrend channel pattern and is been lying on the strong support zone of $22 - $22.30. We might expect a bounce from here but expecting a fakeout, as there's a trendline coming through below. You can take small position here and add on if price goes nearby with moderate stops.
We can see this behavior even clearer by looking at the net profit/loss bias for coins sent to exchanges by the STH cohort. Here, we can see local market extremes see STHs locking in a high degree of profit 🟥, or loss 🟩, indicated by this metric trading above or below ±0.3, respectively.
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#BTC still consolidating in a range and we've a wick down with the high volatile news of NFP, but still continuing. Well, volume may die now, but by the next weekend we might see come crazy move, and probability, will for the downside is higher.
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What is BEP-2 ?
BEP-2 is a technical standard for the issuance and implementation of tokens on the BNB Beacon Chain. This standard defines a set of rules that tokens should follow to function in the BNB Beacon Chain ecosystem. A comparable token standard for issuing tokens on the Ethereum blockchain is ERC-20.
BEP-2 isn’t a piece of software, but rather a set of technical specifications. These rules ensure that tokens in the BNB Beacon Chain ecosystem can seamlessly interact with each other. BEP-2 tokens can represent a wide range of digital assets and tradable goods. The standard ensures that they can all smoothly integrate with each other and the surrounding ecosystem.
The BEP-2 standard also defines some of the basic and most essential features of tokens issued on BNB Beacon Chain. While the standard defines the rules, different tokens will still have different implementations for the specific use cases they’re created for. Still, creating a standard like this significantly decreases the amount of effort required from developers to issue tokens.
The native asset of BNB Beacon Chain is BNB, which is used to pay for fees (similar to gas). This means that when you’d like to transfer your BEP-2 tokens, you’ll also need to have a small amount of BNB in your wallet.
BEP-2 tokens can be traded on Binance DEX, a decentralized exchange that’s running on top of BNB Beacon Chain.
You can store BEP-2 tokens in many different wallets. Trust Wallet is an excellent option if you’d like to use a mobile wallet, but many other software wallets also support the standard. The BEP-2 standard is also supported by hardware wallets, such as the Ledger Nano X, Ledger Nano S, Trezor Model T.
#TOTAL2 (Altcoin Market Cap Analysis) :
#TOTAL2 is been trending lower after rejection from the strong Resistance Zone of $608B - $616B. Looking into to the Daily Structure, its bullish but its nearby the bottom of the zone, where if it broke below $542B mark then overall altcoin can push lower else we'll consolidation likewise
Here's the Analysis of #ATOM :
#ATOM is been rejected from the strong resistance level of $10.00 - $10.20 and slides below the major support zone of $8.59 - $8.79 and might go lower after testing it as resistance. Wait for the confirmation candle or strong resistance to form for shorting opportunities.
#COMP playing smooth and nearly reached out the Take Profit Area and in been running around 12.14% in profits. You can secure some here or full secure at support with Breakeven stops
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#FIO pushed higher in a a a short span of time and exactly hits our 1st target and made profits around 13.45%. I hope You Secured Some Profits over there.
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Here's the Analysis of #BCH :
#BCH is been trending below the strong Resistance area of $267 - $277 and made a falling wedge pattern. Well, Price also, precisely tapped the support zone of $212 - $219 and might breakout of the pattern. As of now, we can only wait to see a breakout either side.
What is BEP-95 ?
BEP-95 is a Binance Evolution Proposal that introduces a real-time burning mechanism to BNB Smart Chain (BSC). It’s been introduced to make BNB’s tokenomics even more dynamic and further decentralize the network.
With BEP-95, the network will burn a fixed ratio of each block’s gas fees that validators collect. The exact ratio will be determined via BSC’s governance mechanisms. The burns will take place even after BSC has reached its target goal of 100 million BNB. By reducing the supply of BNB, upwards pressure is placed on the coin’s price. The BEP may also decrease the amount of BNB delegators and validators received. However, with upward price pressure, the fiat value could also increase, offsetting any reduction in coins.
To technically implement this, the network collects each block’s gas fees and splits between two smart contracts:
1. System Reward Contract. 1/16 of gas fees will enter the System Reward Contract until it reaches a maximum of 100 BNB. These coins will be used as cross-chain package subsidies.
2. ValidatorSet Contract. All other gas fees will enter the ValidatorSet Contract and be shared daily with delegators and validators via BNB Beacon Chain.
To conduct a burn, the ValidatorSet Contract has a burnRatio variable. Upon finalizing each block, a validator will sign a transaction transferring its gas fees to the smart contracts. The deposit function contains burning logic that triggers the simple formula: burnRatio * gasFee. This sum will then be transferred to the burn address. The burnRatio will initially be set at 10%.
BSC Validators will be able to vote via proposals to change the burnRatio amount. This governance mechanism occurs on BNB Beacon Chain, and any community member can submit a proposal for review with a minimum deposit of 2,000 BNB. All BNB staked behind a proposal and in a vote is returned after a decision has been made. Quorum is reached at 50%, and the change will be implemented via cross-chain communication immediately.
#SOL gave a sniper entry from the support moving around 6% in profits. Well, its better to move the stops to breakeven and hodl it, as its trying to break through the channel pattern.
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Here is the analysis of #AVAX:
Price is forming a small falling wedge pattern on the hourly chart. There are possibilities of a test of the $11.89-$12.09 support zone before the next leg up. Keep your long orders in this zone and wait. The key resistance is the $14.11-$14.62 zone.
What is BEP-721 ?
BEP-721 is a BNB Smart Chain (BSC) token standard that allows for the creation of non-fungible tokens (NFTs). It’s an extension of Ethereum’s ERC-721, one of the most commonly used NFT standards and is compatible with the Ethereum Virtual Machine (EVM). Each NFT is unique and is not interchanged with any other token.
BEP-721 tokens allow you to tokenize the ownership of data and attach to it a unique identifier. This aspect makes the token one of a kind and vastly different from BEP-20 tokens. With BEP-20, developers can create multiple identical tokens within one smart contract. However, with BEP-721, each token is assigned a different token ID.
Through these unique IDs, BEP-721 tokens can be used to represent collectible, non-fungible items. Users can trade and transfer these tokens based on their market value, which depends on the token’s rarity or utility.
BEP-721 tokens can represent:
Digital and physical art
Collectibles
In-game items
Physical property and real-estate
Lottery tickets
Like other tokens on BNB Smart Chain, BEP-721 token transfers require BNB for gas fees. BEP-721 tokens can be created on various platforms in the BSC ecosystem, including the Binance NFT Marketplace, Featured By Binance, BakerySwap, and Juggerworld.
BEP-721 token functions :
BEP-721 has a list of functions that govern how the token interacts with the BNB Smart Chain. Some of these are fairly standard and are also present in the BEP-20 standard:
Name: Defines the BEP-721 token’s name, which other contracts will identify it by
Symbol: A shorter name for the token similar to a ticker symbol
Balance Of: Shows the token balance of a specific address
TotalSupply: Defines the total number of the tokens created.
There’s also a set of basic ownership functions, some of which are optional to include. A unique feature for NFTs is the metadata function:
TokenMetadata: This function allows for the inclusion of metadata into a token used to link to an artwork file or another collectible aspect of the NFT.
For example, each CryptoPunk has metadata contained within the NFT that points it to a particular punk in a grid of 10,000 punks. Although CryptoPunks don’t use the BEP-721 token standard, their use of metadata is the same.
#BITCOIN WEEKLY UPDATE :
#BITCOIN going more than what expected and in a correct way. An another weekly candle is about to close today with a new lower low formed/ Bearish Candle overall. Well, we might see some retracements and overall, $29,500 - $30,000 will act as strong resistance for it.
What is BEP-20?
BEP-20 is a token standard on BNB Smart Chain (BSC) that extends ERC-20, the most common Ethereum token standard. You can think of it as a blueprint for tokens that defines how they can be spent, who can spend them, and other rules for their usage. Due to its similarity to BNB Beacon Chain’s BEP-2 and Ethereum’s ERC-20, it’s compatible with both.
BEP-20 was conceived as a technical specification for BNB Smart Chain, with the goal of providing a flexible format for developers to launch a range of different tokens. These could represent anything from shares in a business to dollars stored in a bank vault (i.e., a stablecoin).
Of course, one could equally create a native asset as a BEP-20 token, or even peg tokens from other blockchains to make them usable on BNB Smart Chain. This is what’s done with “Peggy” coins, which are essentially BEP-20 versions of other crypto assets (such as LINK or XRP).
Like BEP-2 tokens on BNB Beacon Chain, BEP-20 token transfers are fuelled with BNB. This provides an incentive for validators to include the transactions in the blockchain, as they’ll collect the BNB as a fee for their troubles.
You may know that BNB Smart Chain was envisioned as something of an extension to BNB Beacon Chain. With dual chain architecture, both chains are complementary – BNB Smart Chain caters to decentralized applications without congesting the original chain, which is optimized for ultra-fast trading.
Because of this architecture, heavy emphasis was placed on cross-chain compatibility. For that reason, BEP-2 tokens can be swapped for their BEP-20 equivalent. The easiest way to do so is perhaps via the Binance Wallet extension.
#DYDX reserved as anticipated and the reason why you should trail the stops if price making clean Lower Lows. Price now flipped above the zone and going after the retest. If you long then its ok, but keep in mind that it can be a fakeout, to manage it accordingly.
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Here's the Analysis of #MATIC :
#MATIC is been trending lower low and on the 4H Strong support zone of $0.658 - $0.662 and made a bounce. Price is also on the downtrend channel pattern and nothing look good for buys, better wait for the any sort of confirmations.
If we look at the degree of Profit/Loss realized by Short-Term Holder volume flowing into exchanges, it becomes evident that these newer investors are trading local market conditions. Each rally and correction since the FTX fallout has seen a 10k+ BTC uptick in STH profit or loss, respectively.
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#DYDX Dropped around 5.8% in favor and its time to move stops at BE, We're just approaching nearby the support zone around $1.80 - $1.82, which will be out TP area. Price making Lower Lows so trailing stops will be better option.
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