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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.
#TVk in #BTC pair also did the same and hits out the 1st target. Price made a high of 151 Satoshi's which is 13.3% in profits. I hope you're enjoying our free calls. 🚀
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Scale-in in #APT going good and moved around 5.6% in our favor and 1st trade at 13%, So you can book your profits over here or move stops to breakeven. Price printed the lower low and expected to move lower.
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Here's the Analysis of #DOGE :
#DOGE is been in a consolidation range and building up an triangle formation. Currently, price lying over the strong support zone of $0.0776 - $0.-789. #DOGE looking hot for potential setup, but a breakout is pending. Wait for the resistance line to be broken but potential buys and short-sells only after the break and close below the strong support area.
During the recent price rally, exchanges experienced significant inflows that caused the Net Position Change to surpass 30,000 #BTC per Month in recent weeks. However, this metric has since slightly decreased to 22,300 #BTC per Month, indicating a smaller but continuous selling pressure in the market.
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#BTC took a retest after being flipped above the zone and bounce. Price attempted to print a new Higher High, but failed through. Overall, Expecting a push till resistance area at $29,820 - $29,890 or above $30,000 mark.
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#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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What is Proof of #Activity ?
Proof of Activity (#PoA) is a consensus algorithm designed to address the limitations of Proof of Work (PoW) and Proof of Stake (PoS) algorithms. PoA combines PoW and PoS mechanisms to create a hybrid consensus algorithm.
In #PoA, miners first compete to solve a cryptographic puzzle using #PoW. Once a miner solves the #puzzle, they create a new block and broadcast it to the network. Then, instead of simply adding the new #block to the blockchain, #PoS is used to select a validator. The validator is chosen based on their stake in the network, and their role is to verify the validity of the block.
If the validator determines that the block is valid, it is added to the blockchain, and the #miner who created the block is rewarded with the block #reward. If the validator determines that the block is invalid, it is #rejected, and the #miner who created the block is penalized.
#PoA is designed to be more secure and energy-efficient than PoW, while also being more #decentralized than PoS. However, it is still a relatively new consensus #algorithm and is not as widely used as PoW or PoS.
#TVK did a strong jump from the daily support zone and easily achieved the 1nd target. Price made a high of $0.0439, which is 15.2% in profits. I hope you secured some partials over there.
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#BTC exactly moves in the way we're anticipating, price exactly taps out the resistance area of $29,820 and rejected. Currently, its moving in a uptrend Channel pattern, which most likely to get on a end now. A break below will lead in a easy crash till support around $28,700 area.
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What Are Crypto Gaming Coins?
A gaming coin is a digital #currency or asset that’s typically created on a #blockchain network. They’re specifically designed for use within gaming #ecosystems. While game coins are informally referred to as "#coins," they are actually tokens because they are not native assets of the blockchains on which the games are built.
The use of #gaming coins in blockchain games #introduces the concept of player-owned economies, where players can manage, #trade, and transfer virtual #assets on peer-to-peer networks.
Gaming coins are usually #fungible, meaning one unit of a #gaming coin is interchangeable with another unit of the same value and can be divided into smaller #denominations.
Use Cases for Gaming Coins in Cryptocurrency
In-game currency —> Players can buy or earn gaming coins to use within the game for various purposes, such as purchasing virtual goods, accessing additional features, or transacting with other users.
Reward programs —> Gaming coins can be used as a form of player reward, where players can earn coins by reaching certain milestones, completing quests, or participating in events. These coins can help incentivize players to remain engaged and loyal to a game.
Decentralized ownership —> Gaming coins can enable decentralized ownership of virtual assets, where players have complete control over their in-game items, characters, or virtual real estate. This can give players greater autonomy over their virtual possessions, allowing them to manage assets without a central authority.
Community —> Gaming coins can be used for community engagement and governance purposes. In other words, players could use their coins to participate in decision-making processes, vote on game-related matters, or support community initiatives.
#MATIC took a bounce from the strong support zone of $0.943 - $0.951 and Failed to break below. Price didn't moves for a good scalp trade. Currently, expecting a strong rejection from the major resistance area of $1.02
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Here's the analysis of #BNB :
#BNB is been under a large mess between the strong resistance zone of $346 - $348 and Strong Support Zone of $316 - $317. Price is been floating inside the symmetrical triangle pattern, where it could still continues to play. After a breakout we still have zone, which might hodl price. Look for the short-term trade in hourly TF, after the breakout of $330 high