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Here's the analysis of #FTM :
#FTM is been retested the major resistance level of $0.398 - $0.396 and rejected. Price is kinda confuses to moves any further, but overall expectations is to dip till major support zone of $0.325 - $0.334. You can take shorting opportunity on the retest near $0.38 and higher.
#TVK/USDT BUY/LONG CALL
Lying above strong support. RSI is showing a bullish divergence. EMA'S are acting as solid support. Stochastic is giving a buying signal. Expecting a big upward move from here.
Targets: $0.0361-0.0475-0.0635-0.0820
Stop if 1D close below $0.0291
What is Eater Address ?
An #Eater Address, also known as a Null Address or #Burn Address, refers to a specific address in a #cryptocurrency network that is designed to be non-spendable and devoid of any #private key ownership. Transactions sent to an Eater Address effectively result in the #permanent loss of those funds because there is no way to access or #retrieve them.
Purpose :
Coin Burning: #Projects or individuals may intentionally send coins or tokens to an Eater Address, effectively #removing them from #circulation and reducing the total supply. This can be done to create #scarcity or to symbolize the destruction of coins.
Placeholder Address: Some blockchain #protocols use Eater Addresses as placeholders or reserved addresses for certain #functionalities within the network. These addresses act as markers or #indicators without the ability to receive or control any #funds.
Testing and Debugging: Eater Addresses can be utilized during #software development, #testing, or #debugging processes. Transactions sent to these #addresses can help identify #potential issues or verify the behavior of the network without #risking the loss of actual funds.
#SOL gave a small drop after breaking the triangle formation, near about 7.3% in our favor. Price already tapped the support near daily TF and kinda rejected strong. Move stops at Breakeven and wait for further down-move 📉
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Here's the analysis of #GALA :
#GALA is been broken below the strong area and now testing it as resistance around $0.0312 - $0.0327. Price kinda rejecting now, but we've to wait for the candle to close. A rejection will push down the price till support zone around $0.0244 - $0.0256. Take it accordingly 📉
#CPI Numbers Coming Today, High Volatility Expected 📊
All the timing are in EST
#BITCOIN WEEKLY UPDATE :
#BITCOIN is been hodling the support from daily TF and kinda rejecting now. On Daily TF, price is just consolidating between $26,880 and $28,600. Expecting the market to break above this area but a break-below chances are pretty high as of now. If this weekly candle closes bearish, then we can see the next weekly candle following too.
What is (#PBFT) Proof of Byzantine Fault Tolerance ?
Proof of Byzantine Fault Tolerance (#PBFT) is a consensus algorithm used in distributed systems to achieve #consensus among a network of nodes even in the presence of faulty or malicious nodes. It is specifically designed to handle #Byzantine faults, which refer to arbitrary and #malicious behaviors exhibited by nodes in a distributed network.
In #PBFT, a network of nodes forms a consensus group, and each node takes turns acting as a #leader. The consensus process involves a series of rounds where the leader proposes a value or a set of #transactions, and other nodes in the network vote on the proposed value. #Nodes communicate with each other to reach a consensus on the agreed-upon value.
To achieve Byzantine fault tolerance, #PBFT requires a minimum number of correctly functioning #nodes in the network. As long as a two-thirds majority of the nodes are honest and follow the #protocol, PBFT guarantees that the network can agree on a consistent value, even if some nodes are faulty or malicious.
#PBFT is often used in permissioned blockchain networks, where the participants are known and trusted, and the network operates in a more controlled environment. It provides fast finality, low #latency, and high throughput compared to other consensus #algorithms like Proof of Work (PoW) or Proof of Stake (PoS). However, PBFT requires a higher degree of network communication and is less suitable for open and #decentralized networks.
So, now you're wondering, I've never see any coin using this, Which coin uses this Consensus?
—> This is only the Hot Coin in 2016 - 2017 Bull-Run, which is #NEO Coin.
#SOL gave a close below candle and continues to push lower. Price reached out the strong flip level around around $20.00. Potential retest is in the way, for making resistance around $21.25 to continue push lower.
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#Bittrex crypto exchange files for Chapter 11 #bankruptcy.
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Proof of Burn vs Coins Burn ?
So, what's the difference between the Proof of Burn and Coin Burn? Let's find it out.
Proof of Burn (#PoB) and Coin Burn are two distinct concepts related to #cryptocurrencies and blockchain.
Proof of Burn (PoB) is a consensus #mechanism where participants demonstrate their commitment to the network by burning (#destroying) a certain amount of their own coins or #tokens. By burning these coins, participants show that they have incurred a #cost, thus proving their dedication to the network. In return, they may receive mining #rewards or other benefits in the form of newly #minted coins or tokens.
Coin Burn, on the other hand, refers to the deliberate and #permanent removal of coins or tokens from #circulation. This can be done by sending them to a specific address or a #non-spendable wallet, making them unobtainable and effectively reducing the total supply of the cryptocurrency. Coin burn is often performed by project teams or token issuers to manage #supply and create #scarcity, potentially #increasing the value of the remaining coins.
While both Proof of Burn and Coin Burn involve the destruction of coins, they serve different purposes. Proof of Burn is a consensus mechanism that uses burning as a way to validate participation and secure the network, while #Coin Burn is a strategy to manage supply and potentially influence the value of the #cryptocurrency.
The demand for #blockspace in #Bitcoin is currently soaring due to the utilization of BRC-20 tokens, text-based inscriptions, and ordinals. This surge in demand is proving to be highly lucrative for #Miners, as the average fee per block has reached 2.905 #BTC, approaching levels seen during previous bullish periods.
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Here's the analysis of #ARB :
#ARB dropped below the support area, which turned to be resistance now around $1.27 - $1.30. Price is expected to retest the resistance and drop lower till major support zone of the $1.10 - $1.15. A potential retest of the downtrend resistance line is expected so, take the setup accordingly.
What is #PoB (Proof Of Burn) ?
Proof of Burn (#PoB) is a consensus mechanism used in #blockchain networks. It involves participants #permanently "#burning" or destroying a certain amount of their own #coins or tokens to demonstrate their #commitment to the network.
In the Proof of Burn process, #participants send their coins or tokens to an address or #wallet where they are rendered un-spendable and #irretrievable. By doing so, participants prove that they have incurred a #cost or sacrificed value, which serves as evidence of their #dedication to the network.
The concept behind Proof of #Burn is that by destroying coins, participants show their willingness to invest #resources into the network and its #security. This can be seen as a form of #mining, where the burned coins act as a proof of work or stake.
In some #blockchain systems, participants who successfully #demonstrate their commitment through Proof of Burn may be #rewarded with newly minted coins or tokens as an #incentive for their contribution to the network's consensus process.
Proof of Burn is often considered an alternative or supplementary #consensus mechanism to Proof of Work (PoW) or Proof of Stake (PoS), offering different security and economic dynamics to the blockchain network.
#BTC did what we are expecting it to do, Price came to an end of the rise, and broke below the channel pattern and dropped till drawn-up support area. Price is not hodling above the support area and kinda bouncing-off. Still, expecting some sort break-below of the zone after a retest of the resistance line.
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#TVK looking ready for a ride again 🚀
You can buy it now if you missed quick gain from this gem last time ✌🏻
#TVK/BTC BUY/LONG CALL
Lying above strong support. EMA'S are also acting as a support. MACD crossover is showing bullish momentum. It will pump hard from here 🚀
Targets: 133-167-200-245 satoshi
Stop if 1D closes below 109 satoshi
There're some rumours that #US Government selling publicly Siezed #Bitcoins.
As per Glassnode data, there isn't any change
#Bitcoin jumped yesterday, due to #CPI Data out but made a immediate correction in move back to lower support zones around $26,900 - $27,000. Price Rejected sharply and kinda consolidation now. Overall, is a no trade range, so better wait for the market to clear the direction.
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$17.7M #USD earned through transactions fees, in a single day by miners. Also, we can see, these massive fees hikes comes nearby the top of the market.
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#LTC dropped to the zone as mentioned, and took a bounce over there too. Price not testing the resistance area and building a fresh resistance too. A potential lower low is expected from here otherwise we can see this range to play.
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Here's the analysis of #XRP :
#XRP is been rejected sharply from strong resistance level at $0.479 - $0.484 and dropped till major support area around $0.420 - $0.424. Daily TF and H4 Voth respecting this level, so most likely a decent pullback gonna come till $0.444 resistance. Alternatively, candle close below, will be our setup, in anticipation of down move.
62.9% of all #Bitcoin transactions are now using #Taproot.
The real Use Case of #Bitcoin coming on the Top 👀
#Bitcoin continues to drop as to expected are and even go further below it. This crash was lead by #Bittrex Bankruptcy news, and currently, price tapped below to the rejection area and reacted over it. Bullish volume is drying, so an another leg down is expected till $26,900 - $26,970.
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Here's the analysis of #LTC :
#LTC moving lower after the strong rejection and below of the strong resistance around $85.20 - $87.00 and price is expected to reach the next strong support zone of $75.50 - $77.30. This is impacted by over-all market conditions and price potential take a bounce from here. Not a good setup, so you ca wait for confirmation.
SOL is trying to break below of the triangle pattern and candle closing is still is pending. Wait for the candle to close, which will gave further opportunity for sells.
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Another wonderful predictions on #bitcoin, did gave a break below of the zone and expected to reach the strong support zone of $27,830 - $27,880. Daily TF, still kinda fuzzy and noisy, so play LTF only.
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#BTC.D Update :
#BTC.D Index kinda creating another consolidation range below the major resistance area and the most probable reason why altcoins is not in any clear move. We need to watch for a breakout, either above the zone or below the range for potential setups in altcoins. At the same time, #BTC movement will also play the important role for the direction
Here's the analysis of #SOL :
#SOL Rejected hard from the major resistance level of $26.00 - $26.46 and is been inside a triangle formation, in which a breakout is still pending. A breakout will decide the next directional bias and potential setups too. So keep an eye on this.