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What Is a Nonce in Blockchain?
Nonce (literal meaning — for one occasion) is a way to sequence and segregate transactions on the Ethereum blockchain and other smart contract platforms. Generally, it is used in cryptography as a non-repeated number for securing communication.
An Ethereum wallet can broadcast multiple transactions from an account, without much delay between one another, to the mainnet. Hence, it is necessary to have a mechanism which can determine which transaction is processed first. Otherwise, there would be malfunctions caused by conflicting transactions associated with account balance transfers.
For example, if a broadcasted transaction has a nonce value of 2, it must be processed first before the transaction with nonce value of 3. The Ethereum mainnet is designed in such a manner that a higher-nonce-value transaction couldn’t be included in any blocks until the ones before them are cleared and settled on-chain.
However, this process can have issues since if a transaction with a lower nonce value is stuck (owing to the gas amount), all transactions received afterwards with nonce values higher would also be stuck.
The process of transaction cancellation and transaction speeding on the Ethereum network also uses “nonce” as its basis. For instance, if a user wishes to cancel a transaction, he can send a transaction to his own wallet with the same nonce number as the transaction he is attempting to cancel. It’s not always guaranteed, though, since if the nonce is the same, any transaction might get randomly approved.
In case a transaction is stuck and does not get approved, users can raise the gas price and send the same transaction with the same nonce number. Since the nonce number is the same while the fee has been bumped, this transaction has a higher probability of being validated. Some wallets have both of these functions automated.
#FIDA made its way to the last and final target and made a high $0.73 which is 123% in profits
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BTC.D (Bitcoin Dominance) is currently testing the support line. A breakthrough below this support could signal a bullish trend for altcoins. Expect a strong rally in altcoins if BTC.D progresses towards the next support zone. 📈 #AltSeason
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#FIDA in #BTC pair also nearly the same and made nearly its 2nd target with a high of 942 satoshi which is 48% in profits. I hope you’re securing some profits.
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#UFT made its way to the upside and hit the as well and nearly reached the 3rd Target. Price made a high of $0.68 which is 55% in profits
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Here's the Analysis of #IOTA :
#IOTA is been very trendy and choppy with the market movement. Price is been very wicky and reached the Strong Support zone around $0.33. Looks like price is getting rejected from the zone and hopefully get a reversal too. You can add some there with lower lots as market is correcting itself. There're bunch of minor support, which might work but we've to wait until a structural shift happen.
One of the classic patterns observed during Bitcoin bull markets is a transfer of wealth from old to young. Investors who accumulated BTC at cheaper prices several months to years in the past, tend to accelerate their distribution pressure as new ATHs are reached
Main Point is, This wealth transfer is once again in play, with the proportion of wealth held by 'Young coins' (moved within the last 3-months), increasing by 138% since October 2023. This reflects a net expenditure by longer-term investors who had previously held their coins for at least 3-months.
#BTC just made the drop from newly made resistance zone and broke the minor supports. Price is expected to reach the support zone of $64,800 - $66,000, where a reversal is expected. Market is correcting itself which is a good to see as it will lead to a healthy market movement ahead.
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What Are Nominators?
Nominators play a crucial role in blockchain networks that utilize the nominated proof-of-stake (NPoS) consensus algorithm, alongside validators. Unlike traditional proof-of-stake (PoS) systems where mining or validation power is solely determined by the number of network tokens owned, NPoS introduces a different approach.
In PoS networks, miners or validators' influence depends entirely on their token holdings, granting more power to those with larger stakes. This power extends beyond transaction validation to governance functions, where validators vote on network development proposals.
However, in practice, not all validators utilize their voting power in every decision-making process. This could be due to various reasons, such as being unavailable or lacking the necessary resources to understand complex technical considerations.
To address this challenge, NPoS introduces a variation of PoS, where validators are selected or nominated to participate in the consensus protocol. NPoS is notably implemented in Substrate-based blockchains like Polkadot and Kusama.
#TOTAL MARKETCAP UPDATE :
#TOTAL goes as per our plan and Index almost got retested back to the support zone. It break above the Resistance Zone, which will open the gates from the Resistance area of $2.90 - $2.96. A retest back to the zone is expected which will be the healthy.
#DEGO continues the move to the upside and easily made it 2nd target. Price made a high of $4.22, which is 72.6% in profits. Its time to book some more profits right here and enjoy the ride.
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#Bitcoin has broken to new all-time-highs relative to the #USD this week, clearing the $69.2k level, and rallying over $72.3k. If we only consider the major breaks above the prior cycle ATH, this would be the fourth new cycle ATH in history.
we can see whenever price breaks it #ATH, market enters into euphoria Zone, and make a continuous rally 🚀🚀
#BTC.D UPDATE :
#BTC.D (#Bitcoin Dominance) is been still moving back and forth of the resistance zone and ranging too. The Altcoins made it Move due to #BTC rose very quickly and move rally yet to come. Price needs to sustain at any sort of level and Index should move lower which tend to start rally in alts. Also, its at a resistance so there's higher chances of dropping and alts can fly.
More than $300M+ Were liquidated in Past 24H due to flash dump
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Here's the Analysis of #MINA :
#MINA is been rejected off from the Major Resistance zone of $1.63 - $1.67 and currently, tapped it into the support zone of $1.48 - $1.49 and a bounce is expected with a trendline confluence. Overall, market is falling and need to wait for the candle close for any sort of buys.
#FIDA in #BTC pairs also did well, and made high 1049 Satoshi which is 65% in profits. I hope you books some right there.
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Today it was more than $700M+ in past 24H
Market hitting hard to #FOMO Buyers.
#BITCOIN DAILY TF UPDATE :
#BITCOIN is been correcting itself with the market conditions and making the H4 and all LTF bearish. Daily TF also turned bearish at the moment and made a huge wick from the downside showing absorption. Well, price already tested the support and might goes lower for a final shake out too. Eyes on weekly closing and #DXY as well.
#FIDA achieved the 3rd as well and made a high of $0.63 which is 96% in profits 🚀
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Yesterday there was $300M+ liquidation over the market.
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Roles in Nominators
The Validator-Nominators Relationship
Validators form and secure the network, maintaining the services provided by it through the production of new blocks and validating parachain blocks. They run perpetually, using the network’s native tokens to back them as validators and to incentivize their continued abidance by the protocol’s rules. Failing to abide by the rules penalizes them (commonly referred to as “slashing,” while keeping the rules rewards them with a share of the fees generated by use of the network’s services.
In NPoS, however, validators must be elected to participate in every active set, which is a determined period of time that typically becomes longer at latter block heights. This is where nominators come in
Nominators are also token owners but, for reasons mentioned above, are not actively participating in consensus. Instead they use their economic backing (in the form of tokens owned) to nominate the validators of their choosing to be designated for active slots. Nominators are incentivized to do this by earning a share of the rewards that their nominated validators in active slots earn. Like validators, they must also play by the protocol rules or face penalties.
Validators are assigned active slots proportionally to their nominations. Thus, validators who receive more nominations and a higher value of tokens backing them are more likely to be elected into the next active set of validators.
Fair Representation
Because rewards are eventually distributed proportionally to the validaotr’s overall stake, nominators stand to earn higher rewards for nominating perhaps less-established validators who may have smaller stakes backing them. This incentivizes nominators to seek out a more diverse group of validators instead of nominating the same ones for each set.
On the other hand, misbehaving validators will get penalized, reducing rewards for nominators. This incentivizes nominators to conduct due diligence on validators to seek out good-behaving ones.
In this way, NPoS can improve decentralization of blockchain networks by maximizing the decision-making power, while maintaining fairness through proportional and justified representation.
#BNB falling off due to certain market condition/ corrections and before that it moved around 23.7% in profits and i hope you secured with the moving market conditions. Currently, price is correcting itself and hopefully we can expect it to get it around support zone again.
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#ETH UPDATE :
#ETH is been goes with the plan and break the level too. Price nearly reached the resistance area of $4111 and kinda rejected from there. Daily TF Market Structure standing bullish and expected the break of this resistance too. Also, note that, there's some liquidity resting below the which might get swept and get into the support zone around $3613.
The price is not the only metric to have recently reached a new ATH. The Bitcoin Realized Cap, being a measure of the total wealth stored in BTC on-chain, has also marched to set a new high of $504B, adding over $40B in capital inflows since 1-March alone.
The Realized Cap is currently increasing at a rate of $54B/month, approaching levels last seen during the run-up in early 2021. This highlights just how significant the capital inflows have been for Bitcoin, driven in part by the tremendous success and demand for the new US ETF products.
#BTC printed a ew #ATH and kinda formed new Resistance area. Price kept on sustaining below the zone and but we can still expect a pump and a new #ATH very soon again. Nothing much as of now, just hodl the #BTC and alts and accumulate the new once.
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Here's the Analysis of #ADA :
#ADA is been moving back and forth between the major resistance zone of $0.74 - $0.76 and Strong Support Zone of $0.67 - $0.69. Price continue giving fakeouts and we can expect a breakout very soon. Moreover, you can add some #ADA here and rest at the support in anticipation of breakout.
What is #Bitcoin Dominance?
#Bitcoin dominance is the share of #bitcoin in the crypto market’s overall value. It is calculated by dividing BTC’s market cap by the total cryptocurrency market cap.
Traders have used #Bitcoin dominance to help understand whether #altcoins are on an up or downtrend against bitcoin. For example, one popular theory is that the crypto market is heading into a bull market if #altcoins are trending up. In 2017, for instance, a significant decline in #Bitcoin dominance signaled altcoin prices skyrocketing (rather than #BTC price declining), coinciding with the entire market entering a #bull phase.
Important things to note that, standalone, these dominance charts will not helpful. Use thus with other confluences like, #Bitcoin major levels, Greed & Fear Index, Market Sentiment etc.
Notice of Removal of Spot Trading Pairs - 2024-03-15
https://www.binance.com/en/support/announcement/dd8b8a2c4d2f4616ae5b927b51d31730
#BTC made its new #ATH and just wrecked down with that. Currently, price again backing up for breaking with previous High/ATH. Price is very very volatile and too aggressive, so just take the ride and accumulate the dips.
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BTC touched $73,000 and dropped quick 📉📉
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