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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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Here's the Analysis of #COMP :
#COMP is been rejected off from the resistance area, around $68 - $70 (Major Resistance. Currently, price flipped below the structural support zone around $60.40 - $61.40 and Might move lower as its retesting. You can go with the low risk here till support around $50 and below.
Short-Term Holder Dominance across Exchange Inflows has exploded to 82%, which is now drastically above the long-term range over the last five years (typically 55% to 65%). From this, we can establish a case that much of the recent trading activity is driven by Whales active within the 2023 market (and thus classified as STHs).
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#Bitcoin going as it predicted and rejected the strong resistance area. Currently, price falling lower and might make a new lower low by this weekend. The other possibility can be a new consolidation will be created as we have some high volatile news this week.
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What is Hashed TimeLock Contract (HTLC) ?
The term Hashed TimeLock Contract (HTLC) refers to a special feature that is used to create smart contracts that are able to modify payment channels. Technically, the HTLC feature enables the implementation of time-bound transactions between two users. In practice, the recipient of a HTLC transaction has to acknowledge the payment by submitting a cryptographic proof within a specified timeframe (number of blocks). If the recipient forfeits or fails to claim the payment, the funds will be returned to the original sender.
The HTLC feature is applied in both bidirectional and routed payment channels to allow the secure transfers of funds over various channels, without requiring trust on any of the intermediaries.
There are two key elements which distinguish HTLC from standard cryptocurrency transactions, which are:
—> Hashlock: a function that restricts the spending of funds until a certain piece of data is publicly disclosed (as a cryptographic proof). Such proof may also be referred to as the pre-image of the hashlock. The pre-image is simply the piece of information that is used to generate the hashlock, and to later unlock its funds.
—> Timelock: is a function that restricts the spending of funds until a specific time (or block height) in the future. It can be achieved in Bitcoin, for example, using functions like CheckLockTimeVerify or CheckSequenceVerify.
The Bitcoin Lightning Network is among the most popular use cases of Hashed Timelocked Contracts. By implementing HTLC into payment channels, funds can be transacted from user to user through interconnected payment channels, without requiring any level of trust. This process is known as network routing. It allows Alice to exchange funds with Carol even if they are not directly connected through a payment channel. HTLC’s enable Alice to send her funds to Carol through other participants of the network (e.g., Bob) - and the hashlock and timelock features ensure that Bob cannot intercept the funds.
Besides being used on the Lightning Network, HTLCs can also be useful in other contexts, such as cross-chain atomic swaps, financial smart contracts and escrow, and much more.
#TOTAL MARKETCAP ANALYSIS :
#TOTAL MARKETCAP gave a fakeout of the zone major resistance area but fall back below the zone. Index forming the Head and Shoulder patterns, where breakout is pending, the range is very tight, so have an strict eye on the break of $1.122T Mark.
Here's the Analysis of #DYDX :
#DYDX is been rejected from the major resistance zone of $2.219 - $2.239 and also slides below the strong level of $2.03 - $20.3, which will act as strong resistance. Price has the higher probability to mover lower till major support zone of $1.80 -$1.82.
What is Beacon Chain ?
The Beacon Chain is Ethereum’s proof-of-stake (PoS) layer where consensus is reached. It controls and coordinates the network of Ethereum stakers who help validate and secure the network in exchange for staking rewards.
The Beacon Chain went live on December, 2020 and is the first in a series of major upgrades (previously collectively known as Ethereum 2.0) to increase Ethereum’s ability to handle transaction loads more sustainably.
Although the Beacon Chain (previously known as Eth2) is an independent layer that runs parallel to Ethereum’s execution layer (previously known as Eth1), it will soon be connected to the Ethereum mainnet in an event known as The Merge.
Post-merge, Ethereum’s consensus mechanism will permanently shift from proof-of-work (PoW) to PoS. If you are interested in validating the Beacon Chain, you can do so by staking your ether (ETH). As a validator securing the network, you will be in charge of storing data, processing transactions, and adding new blocks to the blockchain.
The ecosystem moving away from mining new blocks means Ethereum miners will eventually become obsolete. Additionally, tokens will no longer be issued in the form of mining rewards, leading to a projected net reduction in ETH issuance of almost 90%.
The Beacon Chain has set the stage for the following scaling solutions: The Merge, The Surge, The Verge, The Purge, and The Splurge. This set of solutions is designed to tackle the Scalability Trilemma proposed by Ethereum founder Vitalik Buterin.
The trilemma suggests that a blockchain can satisfy only two out of three of its fundamental principles — security, scalability, and decentralization. A series of upgrades has been postulated to help Ethereum support a larger transaction load by increasing transaction throughput without compromising security or decentralization.
#OP is been breakout of the resistance area and go as expected. If you followed the plan then trade peaked around 9% in profits. Price is retesting the zone as support zone and might bounce from here. Well, we might see a final push till Strong Resistance Zone.
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Here's the Analysis of #CAKE :
#CAKE is been for a long symmetrical triangle pattern after a heavy crash. Price is kinda consolidating failed to breakout of the pattern and move towards the apex. Well, wait for a breakout to happen to see, and price already rejected the area and fall lower.
the divergence within the whale cohort, we can observe changes in the supply owned by each sub-cohort over the last 30-days:
🔴 Whales with >100K BTC have seen a balance increase of +6,600 #BTC.
🔵 Whales with 10,000 -100,000 #BTC have reduced their balance by -49,000 #BTC.
🟢 1k-10k Whales have seen a balance increase of around +33,800 #BTC.
#Bitcoin Sustaining above the $29,000 level mark and is been ranging below the resistance. Well, that's kinda accumulation and a breakout will decide the next move in the market. Weekly, candle closed strong bearish, so you the probability in favor.
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Here's the Analysis of #STROJ :
#STORJ is been ranging over the strong support zone of $0.268 - $0.283 and Build-up a resistance around $0.317 - $0.326. Well, market is kinda choppy and after the huge rally up so market is in bit indecision. Wait for a breakout of the mentioned zone, so we'll look for opportunities.
By excluding Exchanges from the data, we focus on transactions solely between Whale entities and exchanges. The chart illustrates that the total balance of Whales has decreased by 255,000 #BTC since 30th May.
This decline marks the most significant monthly decrease ever recorded, amounting to -148,000 #BTC Per month. It suggests notable changes are occurring within the #Bitcoin Whale group, warranting further investigation.
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.
Nothing has changes a lot from yesterday, #Bitcoin Just made an another small consolidation. But overall, exception is the same to move lower. This might due to we have high volatile news today.
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What Are B-Tokens ?
B-Tokens, Binance's official term for fully-collateralized wrapped tokens, represent portable versions of original assets on different blockchains. Let's illustrate with an example: Suppose you possess ETH on the Ethereum blockchain but want to leverage staking opportunities on BNB Smart Chain (BSC). Since you cannot stake your ETH in its current ERC-20 form on BSC, you'll need to bridge it to BSC using a compatible token standard. To achieve this, you wrap your ETH and, in return, receive a BEP-2 or BEP-20 ETH B-Token that is BSC compatible.
Binance facilitates this process by securely holding your ETH as collateral. For each unit of ETH provided, a corresponding B-Token is minted at a 1:1 ratio. At any time, you have the flexibility to exchange your B-Token back for the underlying ETH collateral, should you choose to do so. This mechanism ensures a stable pegged price for the B-Token, closely linked to its underlying ETH collateral.
#XLM played out our aggressive sell method and is been running around in profit of 9%. Better move the stops at Be or trail the stops as price reaching the structural support zone. Overall, expectation is to reachout themajor support area.
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#ETH Analysis :
#ETH is been rejected hard from the major resistance zone of $1999 - $2019 and bouncing off the strong support zone of $1816 - $1828, where it cloud continues to play off. There's a top resistance line, which will decide the next direction. Eyes on Breakout only
During the recent rally, whale inflow volumes to exchanges picked up quite significantly, hitting +16,300 #BTC Per day. This is a whale dominance of 41% of all exchange inflows, which is comparable to both the #LUNA crash (39%) and the failure of #FTX (33%).
Whenever there's a huge inflow, we can see some huge moved in the market.
#Bitcoin made a pullback a bit deeper back to the strong resistance zone and kinda getting rejected. Well, its a decisional point but probability for going lower is high at this point.
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Since the aggregate balance change is relatively flat, yet there are significant changes taking place both internally and via exchange flows, it is highly possible that these whale entities are moving funds internally. We will refer to this as ‘Whale Reshuffling.’
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And We Predicted it right, #Bitcoin gave a break below of the zone few hours back and might continue pushing lower after a retest back to the zone. Overall, expectation is price to reach around the support zone of $28,160 -$28,200.
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What is Atomic Swap ?
An atomic swap is a cryptographic technology that enables the direct exchange of one cryptocurrency for another without the need for an intermediary, such as a centralized exchange. It allows users to swap assets between different blockchain networks securely and trustlessly.
In a traditional cryptocurrency exchange, users must send their funds to the exchange's wallet and trust the exchange to hold and manage their assets during the trading process. Atomic swaps, on the other hand, use smart contracts and time-locked transactions to ensure that both parties involved in the swap fulfill their obligations simultaneously.
The process of an atomic swap typically involves the following steps:
1. Initialization: Two parties agree to perform a swap and create a multi-signature smart contract that locks their respective funds.
2. Verification: Each party verifies the transaction details and ensures that the contract adheres to the agreed-upon terms.
3. Execution: The swap is executed by revealing the necessary secrets or private keys, enabling both parties to claim the funds from the smart contract.
4. Completion: Once the swap is successful, both parties receive their newly acquired cryptocurrencies without the need for a centralized intermediary.
Atomic swaps are often used for cross-chain swaps, allowing users to exchange different cryptocurrencies that exist on separate blockchain networks. This technology enhances the decentralization and privacy of cryptocurrency trading, as it eliminates the need to trust third-party exchanges with user funds.
#BTC.D (#Bitcoin Dominance) Nearly Rejected from the resistance area nd getting back to the major support zone around 48.65% - 48.85%. In this scenario, alts needs to fly but #BTC also came down with it. Now, altcoins looking not good until #BTC breaks and Dominance needs to break below the major support too.
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Curve Finance Pool Exploited
Several pools using the Vyper compiler have been drained
More than $24 Million has disappeared so far
The Cup and Handle pattern is a bullish technical formation. It is recognized as a continuation pattern, signaling a potential upward trend after a temporary consolidation phase.
The pattern consists of two main components: the cup and the handle. The cup is formed by a gradual price decline followed by a rounded bottom, resembling a cup or bowl shape on the chart. This represents a period of accumulation and a shift from selling to buying pressure.
After the cup is formed, a shallower price correction occurs, known as the handle. The handle is a short-term consolidation period, indicating a pause in the price action before a potential breakout.
Once the handle is complete, and the price breaks above the handle's resistance level, it signals a potential uptrend, and traders often interpret it as a bullish signal to enter a long position. It target is estimated by measuring distance from the cup's bottom to the handle's resistance and projecting it upward from the breakout point.
#OP is trying to break out of the zone and plan will remain the same as mentioned. Wait for a closing above the zone, but market is weakening so risk it accordingly.
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