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#Bitcoin perpetual funding rates have consistently shown a strong positive bias, signifying a prevalent net long position among leveraged traders. The short-side annualized yields have occasionally exceeded +50%, emphasizing the sustained bullish sentiment. A notable phase shift occurred in mid-October, transitioning from oscillating around neutral to a consistently positive structure. While funding rates have cooled off this week, the overall trend remains positive.
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Here's the Analysis of #ICP :
ICP is been rejected hard from the major resistance zone of $15.34 - $15.75 and reached the support zone of $10.50 - $10.95. Price also forming the Triangle formation by which a breakout will decide the next move of the market. You can take a small risk here as a early entry. Shorting only after the candle closure below the support.
#Bitcoin made a strong move to the down side which was least expected but it happened. Anticipating, a up move with the confluence but dip down to the Major Support Zone and price still rejecting the it. Price should strongly bounce from here but a Daily Candle closing below the zone, would be the matter of concern, so eyes on it.
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Here's the Analysis of #GRT :
#GRT is been kinda making messy moves and slides below the Zone of $0.174 - $0.177. Price testing the zone as Resistance where price cloud the reach the next support around $0.160, but the trading range is small. So, wait for the setup to appear, which can be daily candle closed closing either side of the zone.
Here's the Analysis of #RUNE :
#RUNE is been rejected from the major Resistance Area of $5.98 - $6.13 also also sliding below the strcutural support zone of $4.65 - $4.79. Well, price already gave a fakeout but unable to sustain over it. In case price again close below the support, then we can go short over the retest of the zone as resistance area.
#BTC, kept on sustaining over the zone, but did also rejecting from Structural Resistance area. Well, its been looks like price forming a range, potentially price will retest the Major Support zone, before going higher. Altcoins gave a good push with the market momentum and more yet to come as soon as price stable down, money will start flowing into alts.
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What Is an Initial Dex Offering?
Initial dex offerings, or IDOs, are tokens that represent any type of asset hosted on a decentralized exchange (DEX) — an IDO is when a project launches a token through a decentralized liquidity exchange. IDOs can be created for anything from cryptocurrency to a music album, to aether powered battle ships. IDOs offer businesses a tool for engaging their communities in an economy that both enriches their products and services while allowing them to make smart business decisions regarding their assets.
In the same way that traditional startups receive venture capital before launching, projects issuing initial DEX offerings receive financing from individual investors. Unlike an initial public offering, investors in initial dex offerings never own any equity in the project.
IDOs have some benefits that may make them more attractive than ICOs and IEOs: immediate liquidity, immediate trading and lower costs for listing.
An initial DEX offering or IDO refers to the launching of a cryptocurrency on a decentralized exchange (DEX). In an IDO, a blockchain project makes a coin’s first public debut on a DEX in order to raise funding from retail investors. IDOs have similarities with initial exchange offerings (IEOs), where crypto projects launch their token and raise funds via a centralized exchange, since both allow immediate trading on top of raising funds. However, centralized exchanges impose strict ground rules including:
—> Payment of a huge sum or offering a portion of the tokens to the exchange;
—> Prohibiting the project from listing their token on competing exchanges;
—> Having very small leeway in controlling the parameters of a project’s token sale.
IDOs, on the other hand, can offer a far more cost-effective token sale and listing model. Firstly, an IDO provides quick liquidity with little to no slippage through available liquidity pools in a DEX. Relatively, it has cheaper listing costs. And like IEOs, it allows instantaneous trading.
Examples of DEXs that offer IDO services include Binance DEX, Polkastarter and Uniswap. Most traders also prefer IDOs over ICOs since IDO listings prevent the issuer of the tokens from controlling how the fundraising round will go. One of the first IDOs launched in the space was RAVEN, which was listed in Binance DEX in June 2019.
#BTC.D is made a retest but failed to create a lower low, instead given a break and close above of the Resistance Area. Alts were dumping aggressively right now, as #BTC make short-term aggressive moves, and money started flowing into it. Dominance Reached towards the Resistance area of 54.5%. Still, there's index reached area, so alts will react and might jump a little bit.
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#BITCOIN WEEKLY TF UPDATE :
#BITCOIN on Weekly TF, Tried to surpass through the build-up resistance area a=but couldn't able to do sp. Well, its still have time for the closing and need a close above the Resistance zone around $43,250. This will again open the room for $47,000 - $48,000 level, also have to prepare for a fakeout too, as #ETF news might drop into the market, which will kick in heavy volatility.
Here's the Analysis of #ID :
#ID is been moving within the range and rejected hard from the major resistance zone of $0.361 - $0.368 and currently testing the support zone of $0.296 - $0.304. Well, a bounce a expected from here, but overall, anticipating price as to go bearish. Buys and Sell only after Daily Candle closure.
#BTC still moving back and forth inside the range and again rejected from the Resistance Zone, with that price nearly got into Major support again. Well, this series might continue until a strong news drop into the market like #ETF Approval, Rejection or Delay. Hodl on with the new alts trade and manage the running one accordingly.
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#BTC goes wild as expected, gave a strong volatile movement, dipping back down towards the Major Support Area of $40,800 - $42,000. Price strongly rejected from Major support, showing buyers confidence, although, price again back inside the range, so continue to do so. More these types of movement ahead, so careful with the movements.
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Here's the Analysis of #WLD :
#WLD is been broke out of the Falling Wedge Pattern and worked pretty well. Right now, price is in consolidating in a range and build-up a support around $3.36 - $3.43. Daily TF looks too messy for price action, so you can wait for a clean breakout either side of the zone.
What Is GameFi?
GameFi, a portmanteau of gaming and decentralized finance (DeFi), is also known as play-to-earn (P2E) games. This innovative concept converges blockchain technology, gaming, and various decentralized financial elements, including non-fungible tokens (NFTs), yield farming, borrowing and lending, and algorithmic stablecoins. The term "GameFi" was coined by Andre Cronje, the DeFi pioneer, in a tweet on September 10th, 2020.
Unlike traditional games where in-game assets hold no value outside the game's realm, GameFi transforms this dynamic through blockchain, cryptocurrencies, and DeFi products. In GameFi, players truly own their in-game items, eliminating the control of developers and mitigating issues such as game hacking.
Blockchain-based games in the GameFi ecosystem typically come with an in-game currency, a marketplace, and a token economy governed by the community. This player-centric model not only eradicates the need for central authorities but also leverages blockchain technology for feeless transactions.
GameFi introduces a new use case for cryptocurrencies by allowing players to earn income while playing. The absence of centralized control enhances its popularity, and the blockchain's feeless transactions facilitate seamless buying, selling, and trading of digital assets.
In the GameFi universe, in-game currencies can be exchanged for other cryptocurrencies and fiat money. Players can invest in in-game NFTs, trade or sell them in open marketplaces, and earn returns. For example, players can buy and sell in-game assets or rent out high-level items to earn additional income.
GameFi has revolutionized ownership of in-game assets, introducing layers to token-based economies and providing opportunities for significant returns through various DeFi products. With a remarkable 121% growth in active players from June to July 2021, reaching 800,000 players, GameFi stands out as one of the fastest-growing sectors in the blockchain ecosystem.
What Is Gas?
Gas on the Ethereum network is the compensation given for utilizing the platform's computational power. This fee is essential for activities such as launching decentralized applications (DApps) and basic transactions like sending ETH. Users pay this fee in Ether (ETH), the native currency of the Ethereum platform.
Gas is measured in small units known as gwei, with one gwei equal to 0.000000001 ETH. The amount of ETH paid in a transaction depends on the resources needed for the transaction and the blockchain's congestion level.
The introduction of transaction processing costs on the blockchain simplifies resource computation for executing transactions. It also distinguishes between computational expenses and the digital currency itself. Charging fees for each transaction acts as a deterrent against spamming and enhances network security.
Users can estimate their gas costs using platforms like ETH Gas Station. However, lower-priced transactions may take longer to process, as miners prioritize transactions with higher fees, which are more lucrative for them.
To illustrate, consider moving funds between traditional bank accounts. In the Ethereum network, the total ETH involved in a transaction is equivalent to the amount being moved, and the gas fee is akin to the transaction fee in traditional banking.
It's crucial to note that gas on the Ethereum network differs from GAS on the NEO blockchain. While on NEO, GAS is a standalone currency, on Ethereum, it represents the cost of running transactions.
#TOTAL2 (Altcoin MarketCap) Update :
#TOTAL2 made a strong decline with the market conditions and made its way back to the support zone of $745B - $750B mark. Overall, market is also over the major level, and similar goes here too, if Index giving close below then we can expect it to move towards the Major Support Zone around $645B Mark, so better wait for making fresh entries in the market or make some minor ones.
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What Is an Initial Game Offering (IGO)?
Initial Game Offering (IGO) launchpads are the latest trend in the crypto world and the concept is similar to Initial Coin Offering (ICO). The only difference is that in IGOs, the platform hosts gaming projects that are based on NFTs or tokens as their in-game currency and rewards.
Investors can put their funds into the gaming projects offered by IGO launchpads and expect significant ROI once that gaming project is launched on major crypto exchanges or gains popularity in the ever-increasing gaming community.
With the rise of blockchain gaming, IGOs are becoming the next big thing in the crypto space. Games like Axie Infinity (AXS), CryptoBlades (SKILL), and Alien Worlds (TLM) have thousands of daily active users. Axie Infinity is currently leading the pack with over $1.1 billion USD in sales so far in 2021. While Axie Infinity has launched its initial token sale of $AXS on the Binance launchpad, players in the game earn income primarily from its Smooth Love Potion ($SLP) token. $SLP are obtained by completing daily quests, competing with other players (PvP) and battling monsters in adventure mode (PvE). Players can trade $SLP to fiat on exchanges like Binance, and users in the Philippines can check the SLP exchange rate to PHP directly on CoinMarketCap.
Owing to this huge popularity, several IGO launchpads have surfaced, including Gamefi (GAFI), Enjinstarter (ENJINSTARTER), Gamestarter (GAME), Seedify.fund (SFUND), and others.
IGOs may seem a good investment, however, before investing in any IGO platform or projects that are in its initial game offering (IGO) phase, a few things should be considered:
See the holder benefits of the native tokens. Check the percentage of benefits and compare them with other IGOs.
—> Check whether the IGO launchpad is providing guaranteed allocation. This may cost higher than IGO launchpads that use a lottery mechanism; however, in that case, allocation is not guaranteed.
—> Evaluate the ROI of the active IGOs offered on the platform. A launchpad with a history of good projects is likely to provide major returns on most of its upcoming projects.
—> Check the launchpad's holder value which acts as a performance metric for any IGO launchpad. A high holder value amounts to a higher token valuation, which implies that investing in that IGO may prove to be beneficial.
—> Check the number of token generation events of an IGO launchpad. A higher number of events imply the platform strives to host quality initiatives to boost its overall valuation.
#BITCOIN DAILY TF UPDATE :
#BITCOIN pinpoint and precisely, from levels to level, pushed due to #ETF news but ended up being rejected from the Resistance Area of $47,000. Price again tapped into the major level (Grey Box) around $42,000, where rejection might happen. Structure now turned bearish, so careful with any sort of fresh trade now. Also, if #BTC remains stable here let's say, consolidation happens, alts will fly strongly.
#BTC.D gone as per our plan, #BTC tighten the market which lead in alts dump but over all rejected from the mentioned area of Resistance Zone. Well, its been a huge drop, which made a rally in alts and now reaching the support zone of 51.8% - 52.0%. Keep the Stops tights and watch our over it. Moreover, if #bitcoin stable down here, then we can break those support, which will the open signal for alts buy setups.
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Here is the analysis of #TRX:
Price seized the liquidity and gained momentum. There is a high probability of a move towards the $0.108-$0.110 resistance zone. Wait for sometime and see how price reacts on the resistance and consider opening long positions only after a breakout above the resistance zone.
What Is Impermanent Loss?
Impermanent loss can arise when there is a price discrepancy between the two assets a trader holds on a DEX, usually a cryptocurrency and a stablecoin (such as USDC). When the price of the cryptocurrency falls relative to the stablecoin, the trader can experience a loss due to the difference in prices. This is known as impermanent loss.
How Does Impermanent Loss Work?
Impermanent loss occurs when traders use a DEX to buy one asset with another asset. For example, if a trader buys Ethereum using USDC, then the trader is exposed to the price movements of both assets. If the price of ETH falls relative to USDC, the trader’s profit from the trade will decrease or even become a loss. This is because they have to sell the ETH at a lower price to get back to the original USDC amount.
Let’s imagine that a provider needs to offer equal levels of liquidity in both USDC and ETH but suddenly, the price of ETH goes up. This creates an opportunity for arbitrage because the price of ETH in the liquidity pool now doesn’t reflect the market price. Other traders will buy ETH at a discounted rate until the equilibrium is restored.
After arbitrage, a liquidity provider may end up with a greater amount of USDC and slightly less ETH. Impermanent loss is the difference between the trader's new portfolio balance and what they would have had if they had just held on to their old balance. The loss is realized when a trader withdraws the liquidity from the pool.
How to Avoid Impermanent Loss?
One way to prevent impermanent loss is to use stablecoins, such as USDC and DAI, or wrapped versions of the same assets like wBTC offered by Curve. Balancer also offers arbitrary weights for its liquidity pools different from the 50/50 model, which can reduce the risk of impermanent loss if a token has a higher weight in the pool.
Additionally, a few DeFi protocols are beginning to explore innovative solutions like price oracles used by Bancor, and single-sided liquidity pools employed by Tokemak, where the protocol’s native token absorbs the risk of impermanent loss in exchange for swap fees and bribe rewards.
Impermanent loss can also be minimized by setting up a portfolio of assets that are relatively well-correlated. This way, when the prices of the assets diverge, the portfolio will remain relatively balanced, and the trader can avoid any unexpected losses.
Here's the Analysis of #HIFI :
#HIFI kinda giving fakeouts over, the large consolidation range tapping into the Major Support Zone of $0.51 - $0.52 and Strong Resistance around $0.83 - $0.85. Currently, price is very confusing, have to wait for the price to reach either end of the zone. Alternatively, you can wait for the break of the $0.62 level, to sell down till major support, as it have enough range take that move.
Here's the Analysis of #APT :
#APT is been moving within ranges to ranges and rejected strongly from both Strong Support around $8.45 - $8.65 and Major Resistance Zone of $10.72 - $10.87. Currently, price lying on the strong flip area around $9.00 - $9.10 and expected to reach at Strong Support Area, where buys will come from, and Trading range is good enough, so take it accordingly.
What Is Hard Peg?
A "hard peg" refers to a fixed exchange rate system in which the value of one country's currency is directly tied to another major currency or a basket of currencies. In a hard peg, the exchange rate is set and maintained rigidly by the government or central bank, and it doesn't fluctuate in response to market forces like supply and demand.
The goal of a hard peg is to provide stability in international trade and financial transactions. However, maintaining a hard peg requires active intervention by the central bank to buy or sell currencies to keep the exchange rate within the specified limits.
An example of a hard peg is a currency board system, where a country's currency is pegged to another major currency, and the central bank holds reserves in that currency to ensure the fixed exchange rate. The Chinese yuan's peg to the U.S. dollar from 1994 to 2005 is another historical example of a hard peg.
Another Example: Tether (USDT) and US Dollar Peg:
Tether (USDT) is a widely used stablecoin in the cryptocurrency market. It is designed to maintain a 1:1 peg to the U.S. dollar. This means that 1 USDT is intended to be equivalent to 1 U.S. dollar.
While Tether doesn't operate under a traditional hard peg system with a central bank, it claims to achieve its peg by holding reserves of U.S. dollars in a 1:1 ratio to the circulating supply of USDT. Users and investors can theoretically redeem their USDT for U.S. dollars at a fixed exchange rate.
It's important to note that the effectiveness of such pegs can be subject to scrutiny and regulatory concerns. The stablecoin market has seen the development of various models, including those backed by fiat reserves, algorithmic stability mechanisms, or a combination of both. The level of decentralization and transparency in maintaining the peg can vary among different stablecoins.
What Is a White Swan Event?
A White Swan event in the financial market refers to a highly foreseeable and expected occurrence. Unlike Black Swan events that are rare and unpredictable, White Swan events are events that market participants generally anticipate due to their regularity or historical precedent.
Example of a White Swan Event in the Financial Market:
Quarterly Earnings Reports:
Quarterly earnings reports released by publicly traded companies are a classic example of a White Swan event in the financial market. These reports are scheduled, anticipated, and provide detailed information about a company's financial performance, including revenue, profits, and future guidance. Investors and analysts typically expect these reports and plan their investment strategies around them.
For instance, if a company is known to release its earnings report on a specific date, investors will prepare for potential market movements based on the outcomes. Positive earnings may lead to a rise in the company's stock price, while disappointing results may result in a decline. Since the timing and content of earnings reports are known in advance, they are considered White Swan events in the financial market. Investors actively incorporate these events into their decision-making processes, and the market usually adjusts accordingly.
A well known example of a White Swan event could be the scheduled and anticipated #Bitcoin halving. The Bitcoin halving is a pre-programmed event that occurs approximately every four years, reducing the rate at which new bitcoins are generated by half. Bitcoin halving's are well-known and expected by the cryptocurrency community because they are part of the Bitcoin protocol. Miners and investors anticipate the impact of this event on the supply and demand dynamics of Bitcoin, making it a White Swan event in the crypto space.
Here's the Analysis of #WRX :
#WRX is been kinda moving confusing moves at the moment, Price already rejected strongly from the Major Resistance Area of $0.26 - $0.27 and might gonna reach the support zone (Grey Box) of $0.19 - $0.20 as there's a ton of liquidity building below it. Buy will come from there so take the setup accordingly.
#BTC gave a bearish weekly closing and but still above the major support area. Price failed to break the resistance and formed new resistance zone. Well, On Daily TF, price hovering over the major support area and inside the triangle pattern too. It's a Near Year Time, so market is kinda ranging now and expected this to happen till the mid week.
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Despite Bitcoin's remarkable price performance, a significant portion of BTC remains inactive, qualifying as Long-Term Holder status in the wallets of investors. Out of the total circulating supply of 19.574 million BTC, more than 14.900 million (76.1%) are stored off exchanges and have not undergone any transactions in over 155 days, marking an increase of 825,000 BTC year-to-date. Consequently, the Short-Term Holder Supply is currently at an all-time low of 2.317 million BTC.
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3 hours left until the mega pump on MEXC! Things are looking great for us and we will definetly be expecting a very nice signal!
Here is a list of things you need to know before the Mega signal:
- The faster you buy the more profit you will make, buying early is the most important factor that will determine your profits.
- If you are using market buy , using the 100% option won't work , instead use between 75% and below.
- The signal will be free for all and on MEXC, the signal will be given on all our telegram groups at the same time