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During network growth, exchange-related volumes rise. Using Glassnode's entity-adjustment heuristics, we'll focus on Exchange Inflow Volumes, a direct measure of spot trading activity.
We'll employ a basic fast/slow moving average crossover analysis, identifying periods where the 30-day SMA surpasses the 365-day SMA, indicating heightened short-term activity.
Analysts may also examine the deviation between these moving averages and their gradient for advanced insights and divergences.
#Bitcoin kept on pumping as the breakout happens and gave a Daily Candle Close above the Resistance Area too. Price still pushing higher and expected a retracement from the next resistance area around $47,000.
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What Is a Mainnet Swap?
Mainnet swap is the migration of a cryptocurrency project from a third-party blockchain network, such as Ethereum, to its native blockchain network.
A third-party blockchain network is used when a cryptocurrency project is in its testnet phase. But once it moves from the testnet phase to the mainnet phase, users receive native cryptocurrency in exchange for their third-party tokens. That’s why it is also called token migration or token swap. At its core, the mainnet swap is the exchange of third-party tokens with the platform’s native cryptocurrency.
Better Understand Mainnet Swap
Since 2017, ELF has been held as an Ethereum based #ERC-20 token. After spending considerable time testing the security and reliability of its platform, they announced the mainnet swap on September 9, 2021. Typically, the mainnet swap follows a 1:1 ratio. Once it is completed on the entire blockchain, the remaining tokens are burned.
Another example of a mainnet swap is #BNB (Binance Coin). When Binance Chain was in its testnet phase, it was using the Ethereum based ERC-20 BNB token. However, after the mainnet launch, #ERC-20 BNB token holders were encouraged to migrate to the BEP2 BNB coin (the native coin of Binance). This swap occurred at a 1:1 ratio, meaning 1 #BEP2 #0000000d BNB coin equaled 1 ERC-20 #BNB.
When Does Mainnet Swap Occur?
Typically, a mainnet swap occurs when a cryptocurrency project moves from one blockchain to another or migrates its tokens from a third-party blockchain to its native chain. However, the mainnet swap isn’t associated exclusively with new blockchains. A project may announce it if it decides to move from one protocol to another. One example would be the migration of tokens from Bitcoin-based protocol to Ethereum network.
When it comes to the specifics of a mainnet swap’s execution, it varies from project to project. The majority of projects give a deadline to users for the migration of tokens. Failing to do so means you will end up losing access to your tokens as they’re usually burned after the given deadline.
How Is the Swap Done?
Depending on the main features of execution, users can either manually swap their tokens or leave them to the platform. For example, Binance allowed users to leave their previously issued tokens on their accounts, so the platform could automatically swap their tokens with native tokens.
#TOTAL2 (Altcoin MarketCap) Update :
#TOTAL2 kept getting strong and hodling the support zone too. Index rejected the support and reached the structural resistance area. #bitcoin also gave a breakout over the zone and pattern, and a closure above will give a confidence to buyer, which will bring up an alts rally.
Here's the Analysis of #ADA :
#ADA is been rejected from the Strong Resistance Zone of $0.67 - $0.69 and moving within the falling wedge pattern. The pattern aiming towards the major support zone of $0.41 - $0.42. In case of early breakout, you can look for buying opportunities with a structural resistance break.
Exchanges continue to be the main hub for trading activity, with deposit and withdrawal volumes soaring to $6.8 billion per day. This exchange-related activity now represents approximately 88% of all on-chain volume. The current influx of volume in and out of exchanges is comparable to the peaks seen during the 2021 bull market, with only a small fraction of trading days surpassing it. These figures highlight a growing interest in Bitcoin among market participants.
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#BTC still moving within a range and made a triangle formation. A range inside a pattern is a strong signal of a big accumulation or distribution goin on. We've to wait for a breakout of the zone either side, and also we're expected a retest back to the major support zone, before moving with any major direction.
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MicroStrategy bought 850 #BTC for $37.2 million, increasing their total holdings to 190,000 #BTC
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When MVRV nears 2.00 (yellow line), Bitcoin previously exceeded $50,000. Rising MVRV with MA30d implies market cap surpasses realized cap, causing increased selling pressure. This phase historically precedes a local top, leading to a strong bull market, pushing BTC to new highs and MVRV to the Distribution range (red line).
After the recent $49,000 peak, a -20% correction occurred. The question arises if this selling pressure will return MVRV to the Accumulation range (green line), as seen in 2019-2020. Despite this, the upcoming Halving event in less than 3 months is a positive catalyst historically marking the start of a new bull market.
#BTC.D maintaining above the support zone and already started struggling to push higher. A short-term rally is expected in altcoins and a drop, as Dominance giving signals for a rise. In case #BTC started dropping with rising index then alts with flow with that and might remains the stable too.
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#BTC now goes with the range as expected, price started ranging between the $42,000 and $45,000 level. Price kept on hodling the trendline too, if this sustains then its good, and approach towards the $43,500 and $45,000 is expected otherwise, a drop back to $42,000 will kept this range going on.
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What Is Loan-to-value (LTV)?
LTV is the ratio of the loan's value to the value of collateral. In a typical financial market, credit scores determine the risk involved in a loan. The lower the credit score, the higher the risk for lenders. Instead of credit scores, the crypto lending process offers asset-backed loans.
Loan to value (LTV) determines the amount of cryptocurrency one would need as collateral before one could get a loan. The lender holds on to this collateral until the loan is fully paid back.
The main benefit of LTV in crypto lending is that it helps minimize the risk on the lender's part. The user also benefits from LTV in that they can access larger loans at lesser interest rates.
How to Calculate LTV?
Case 1: When borrowing a crypto-backed loan, you calculate the loan-to-value (LTV) as follows:
LTV = Loan Amount/ Market value of collateral
Your LTV would be 50% if you borrowed $5,000 and deposited $10,000 worth of bitcoin. However, if the value of bitcoin fell, your collateral's value would decrease, increasing your ratio. To get your loan back to its original LTV ratio, if your LTV rises too high, you might need to put up extra collateral.
Case 2: Once your loan is active, you can continue to monitor your LTV using the following formula:
LTV = Outstanding balance/ Market value of collateral
#LDO has successfully maintained the crucial support zone on the daily timeframe, with the daily candle closing above this significant level. Traders may consider cautiously initiating a small long position, implementing a tight stop-loss strategy, and adhering to effective risk management practices. There is a potential for a minor upward move in the near term.
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Here's the Analysis of #THETA :
#THETA is been formed a Head and Shoulder Pattern which is a reversal pattern but still stuck lower below the Strong Resistance Zone of $1.03 - $1.05. Price formed the minor support zone nearby $0.96 and if its break below the zone then we can go with the shorting opportunities and buys only after the break and close above the resistance area.
At the time, A large divergence was in play between the two, with a significant dominance towards coins being dormant, inactive, and illiquid.
This year we see the first signs of a potential closing of this divergence, a notable increase across all measures of “Active Supply”. This provides confluence with the aforementioned uptick in older coin spending.
#ADA gave a early breakout with a daily candle closure, but to turn truly bullish, it been a matter to break above the Flip Area/ Resistance (Blue Box) around $0.54 - $0.55. After a clean break, we can have clean buys above the zone with a retest.
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Here's the Analysis of #GAL :
#GAL is been broken the Downtrend Resistance line and trying to move u. Price already made strong bounce from Strong Support Zone of $1.65 - $1.73, so expected it to reach out the next end of the zone of Resistance around $2.56 - $2.61. Longing opportunities can be taken after the daily closure of the Resistance (Blue Box) around $2.16 - $2.20.
A pattern of profit realization has emerged, reflecting the current market sentiment. The provided chart illustrates the average profit or loss per coin sent to exchanges. During the peak of #ETF speculation, this metric surged to an average profit of $3.1K, coinciding with the climax of the April 2023 rally. However, this figure pales in comparison to the $10.5k average profit recorded during the peak of the 2021 bull market. The recent decline suggests a significant cooling off, indicating a potential shift in market dynamics.
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#BTC made a break of the Triangle pattern and the structural resistance area too. Price straight away entered into Resistance now and expected a drop now back to the support zone. Alternatively, a break and close above of daily candle is required for turned the overall market direction.
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Benefits of Loan-to-Value in Crypto Lending
The beauty of Loan-to-Value (LTV) in crypto lending lies in its dual role—it serves as a safeguard for lenders while empowering borrowers to gauge and manage their own risk effectively. In the realm of traditional collateral-based lending, LTV acts as a litmus test for risk, where a higher LTV translates to elevated risk for the lender, leading to an increased interest rate for the borrower. The correlation is clear: the more substantial the loan compared to the collateral, the riskier the venture.
Now, enter the world of crypto-backed loans, and the LTV takes on a pivotal role in ensuring the timely and complete repayment of loans. The LTV becomes the linchpin of risk mitigation for investors. In the event that a borrower is unable to fulfill their repayment obligations, the safety net kicks in—part of the collateral is liquidated to offset the outstanding loan amount. This mechanism not only protects the lender from potential losses but also fosters a sense of security in the overall lending ecosystem.
For borrowers, the LTV ratio becomes a powerful tool for self-assessment. Picture it as your personal risk-o-meter. Different lending platforms offer varying LTV ratios, spanning from a conservative 5% to a more daring 70%. Opting for a lower LTV provides you with a cushion of safety. Should the market experience a downturn, your assets are less likely to face immediate liquidation, granting you time and breathing space to navigate through market fluctuations.
On the flip side, embracing a higher LTV means you're playing in the fast lane. Extraordinary market situations demand swift decision-making, as your collateral becomes more susceptible to liquidation in order to settle the outstanding loan. It's a high-stakes game that necessitates a keen awareness of market dynamics and the ability to make nimble moves.
In essence, the benefits of Loan-to-Value in crypto lending extend beyond a mere risk metric. It's a dynamic tool that balances the interests of lenders and borrowers, fostering a symbiotic relationship within the crypto lending landscape. As investors seek security, and borrowers navigate risk, the LTV emerges as a crucial factor, orchestrating a harmonious dance between risk and reward in the ever-evolving crypto financial arena.
#TOTAL MARKETCAP UPDATE :
#TOTAL Marketcap, started moving back and forth in the major level. Index formed a small and tight range (Blue Box) and need to breakout either side of the zone. Just not a Breakout, #Bitcoin is also ranging, so this mess might continue till halving.
Notice of Removal of Margin Trading Pairs - 2024-02-16
https://www.binance.com/en/support/announcement/772c3895550d4b858e4747030c9a6068
#ETH is been moving very corrective after bouncing off from the strong support zone. The price looks like very struggling but anyways reaching the Major Resistance zone of $2403 - $2424. Price might reach through it, but over all its looks bullish as it broke the trendline too. Daily TF attached with the chart and looks like, it stuck in a range, so eyes on break now.
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#THETA unable to hodl its right shoulder move and making it way down as per the 2nd scenario. Price already made a retest and expected to move lower, so manage the stops and position size accordingly. Target will remain the same as support around $0.87.
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Binance Will Delist ANT, MULTI, VAI, XMR on 2024-02-20
https://www.binance.com/en/support/announcement/f73b083ba6834771b07dbe5319917ae5
Here's the Analysis of #RNDR :
#RNDR moving inside the small uptrend channel approached the strong resistance zone of $4.89 - $4.96. Price moved the market structure to bearish and hodling nearby the bottom line of the channel pattern. So, with that bearish structure, expected a break to happen, and shorting only after a retest of the pattern.
The largest increase in liveliness since the Dec-2022 capitulation event. This again supports the above analysis, denoting an increase in Coinday Destruction as some investors part ways with a portion of their long-held coins.
However, when viewed in a macro context, Liveliness remains near multi-year lows, suggesting that the dominant majority of the supply remains tightly held, arguably waiting for higher spot prices, or perhaps increased volatility as a motivator to spend.
#BTC made a weekly closing with the rejection and as per our daily analysis price is expected back to retest the major support zone and the probability of breaking/ deeper retracement is increased. Looking into the H4 TF, its going same, as expected a range, so have a eye on retest now.
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How Does LMD GHOST Deal With Attacks?
One potential attack risk is a “balancing attack” meant to split consensus between two competing versions of the ledger. To prevent balancing attacks, the Ethereum developers modified LMD GHOST to incentivize confirming only one fork. The changes ensure nodes bet on a single chain to continue building new blocks. This modification has successfully protected Ethereum from major balancing attacks thus far. Ongoing monitoring and tweaks to LMD GHOST aim to head off any future attacks that threaten consensus.
Does LMD GHOST Bring Fast Performance?
By design, LMD GHOST offers superior performance and scalability compared to previous consensus methods. It allows Ethereum to handle far faster transaction speeds and higher throughput than Bitcoin. However, the surge in Ethereum adoption has also revealed limitations in LMD GHOST’s capabilities. Congestion and high gas fees frequently bog down the network. More refinements to the protocol are needed to fully realize its potential.
Different Between LMD GHOST and Ethereum GHOST Protocol
The Ghost protocol is the basis for LMD Ghost. LMD Ghost is a fork choice rule used in Ethereum's consensus protocol. LMD GHOST provides strong protection against tampering and revision of Ethereum’s transaction records. Its multi-step voting process makes it difficult for attackers to override consensus. The major security concern is its vulnerability to balancing attacks. However, the preventative changes implemented have proven effective so far. Additional mechanisms to disincentives and penalize such attacks could offer even greater protection.
Does LMD GHOST Bring Benefits Beyond Ethereum?
LMD GHOST has the ability to broadly benefit blockchain technology. The voting approach it pioneered enables faster and more decentralized consensus. These advantages could enhance transaction speeds, efficiency and participation in other public blockchains should they implement an LMD GHOST-style protocol. A more inclusive consensus aligns with the democratic spirit of cryptocurrency. Of course, LMD GHOST itself requires further upgrades to maximize those benefits.
#FET made a retest back to the resistance zone, and made a drop around 5% in favor. Daily Candle already pushing down and no signs of market structure shift, so try to trail the stops after candle closure. TP would be around the next support zone of $0.49.
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