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Bitcoin recorded a drawdown of -32% from the ATH, the most severe of the current cycle.
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#BTC again over the $60,000 level mark and as usual price rejecting the support zone. Price still getting it rejection from the local resistance which might start a new range. Over the week, we can see some strong bullish or a final shaekout move by next month.
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What Is Slashing?
Slashing is a form of penalty on Proof of Stake (PoS) networks implemented to ensure accountability. The bad actors are penalized and fined a percentage of their staked amount for their offense.
The PoS system encourages security and protection by rewarding validators for performing their job well and holding them accountable for their negligence.
How Does Slashing Work?
Slashing policies vary from network to network. Ethereum Merge was recently implemented to adopt the Proof of Stake mechanism. Now, Ethereum 2.0 has validators instead of miners. These validators get rewarded for staking their coins to keep the network secure. However, when validators fail to perform their job, they get slashed.
Active Network Actors, behaving as whistleblowers, catch an offender. They then construct an infringement statement against the bad validator and add it to a new block. The validator is then penalized for their offense. The punishment usually invalidates their validator id and makes them pay an amount depending on the number of validators involved. The bigger the number, the greater the penalty imposed on the staked amount. The whistleblower is rewarded a fraction of the collected amount from penalties.
What Causes Slashing?
In most networks, crypto slashing is triggered by either double signing or validator downtime. Double signing can result in a significantly greater percentage of penalty, reaching 5%, while downtime often results in a small penalty of 0.1% of tokens. Slashing can occur when two different blocks are signed for the same slots, when validators contradict each other, or when they sign two simultaneously to initiate a validation.
How to Prevent Slashing?
To avoid crypto slashing, users should never simultaneously run identical validating keys in two or more places. Accept downtime and avoid over-engineering validator setups. Some users will keep a backup while running their main validator to avoid going offline if their main validator experiences technical glitches. This helps validators keep profitability, but it's not worth it because you're continuously at risk of double signing a block.
#GOLD UPDATE :
#GOLD made a flip over the resistance and gave a clean close above. Price had a good retest back to the support area and can see strong moved to All-Time High area. Today we can expect some new All-time high printing.
#ETH gave a break below of the trendline and again moved up with some momentum. Price moved into a small consolidation range, and need to wait for the market to have a breakout. #ETH these days, dumping and consolidating alot, so a healthy breakout must needed.
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Analyzing Short-Term Holder MVRV by age groups:
🔴 1d-1w: 1.05
🟠 1w-1m: 1.1
🔵 1m-3m: 1.0
🟣 3m-6m: 1.07
All Short-Term Holder groups now profitable, indicating strong uptrend and likely positive sentiment.
#US30 UPDATE :
#US30 perfectly faked out and moved slightly to the upside, you can expected tiny pullback and target the resistance area around 40,000 (Grey Box).
https://www.binance.com/en/support/announcement/e2fcd2c945654c8d832395335429403e
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YOLO/USDT Mega Signal 2.0 Recap! 🚀
We kept our promise to pump #YOLO again for our members, and here it is! We’re thrilled that many of you turned a significant profit from this signal!
With around 150k USDT in trading volume and a peak of more than 17X, we delivered a fair and safe pump for our community—0% prepump and zero prebuy.
Even though we expected to reach our +5000% target but the peak was shorter than expected as this was affected by alot of bag holders from previous pump, which resulted in lower than expected rise and volume. #YOLO held the #1 gainer spot on MEXC, with whales buying after our members.
Big names are hyping #YOLO globally, and our whales are preparing for another pump in the coming weeks. Overall, this signal was a huge success. We're planning something massive for the next pump, and this time, we're aiming for 50X-100X gains! Get ready—this is going to be our biggest one yet!
Stay tuned for our next signal announcement!🚀
Due to massive request from our community our whales are pumping YOLO again and they will pump until YOLO reach 100X🚀✌️
Buy and HOLD
2 hours left until the mega pump on MEXC! Things are looking great for us and we will definetly be expecting a very nice pump!
Here is a list of things you need to know before the pump:
- 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 pump will be free for all and on MEXC, the signal will be given on all our telegram groups at the same time
📣 6 hours remaining until our pump on MEXC! Our pump will be free for all and everyone will receive the signal at the exact same time. A few tips before we begin : Buying early and fast is very important! Make sure to be active during the pump. If you buy and sell for a profit we suggest adding a buy order at a lower level afterwards to ride the waves and help support the pump, never sell on the buy supports! Instead sell slowly in parts as the price goes up. We are aiming at 50X-100X gains today possibly even more, make sure you have “USDT” in your “MEXC wallet” before pumping.
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#BITCOIN WEEKLY TF UPDATE :
#BITCOIN on Weekly TF, perfectly rejected from the draw area (Potential Area) lower and we can see a very strong rejection from here. Price again back towards the resistance and also faking sell-offs. Now, its time to look for a closing in weekly and then anticipate the next move in the market.
Here's the Analysis of #JTO :
#JTO is been broke the large channel pattern and made a flip to the upside of that flip area around $$2.56. Currently, price is again falling back to the zone and will act as support but it will be risky to get into it.
#TOTAL MARKET CAP :
#TOTAL Marketcap is been rejected hard from the major support zone and now forming a bull flag formation and near towards the resistance area. Index already attempted a breakout and need to see a closing above the resistance.
Here's The Analysis of #APT :
#APT id been moving from the key support area around $4.70 - $4.84 and now retesting the the major resistance area of $6.91 - $7.16. Market structure is strongly bearish. Wait for the price to have a break above the resistance area for buys.
The net realized profit/loss for most sub-cohorts shows positive capital flows, indicating constructive improvement. The exception is the 1m-3m cohort, which has borne the brunt of recent range-bound and downside price action. This cohort is also one of the larger age bands in the study.
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#BTC made its multiple rejection from the support zone and still hodling. Bulls looks pretty strong but due to mix sentiments in the market is not moving alot. We have some minor news this week which might move a the or build-up liq.
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What Is a Simplified Payment Verification (SPV)?
Short for Simplified Payment Verification, SPV is a lightweight client to verify blockchain transactions, downloading only block headers and requesting proof of inclusion to the blockchain in the Merkle Tree.
A Merkle Tree is a tree structure in cryptography, in which every leaf node is labelled with the hash of a data block and every non-leaf node is labelled with the cryptographic hash of the labels of its child nodes.
SPVs allow light clients to determine whether a transaction has been included in BTC.
Light clients refer to wallets running on low-end systems.
Hence SPVs verify whether a transaction has been executed.
Running a full node with a Merkle Tree requires the entire blockchain to be downloaded.
This is where the role of SPV can simplify the process greatly.
This is because SPV proofs only require the Merkle root of each root to verify the authenticity of the transactions.
This means only 80 bytes per block needs to be stored in contrast to the significantly bigger size per block that is required under larger nodes.
However, there are also downsides attached to SPVs.
These relate to cyber security.
In the event of a 51% attack on a cryptocurrency, the hackers may be successful in prompting the SPV proofs into validating illegitimate transactions.
However, research is underway on how to mitigate the threat of such scenarios.
Nakamoto’s whitepaper stated Bitcoin transactions can be verified without running the full node network.
Micheal Saylor Reposted a Tweet from MarathonDH
Buy Bid Coming next week 🙌
#BTC weekly TF got it strong rejection and Monday Open came with a retracement. Currently, price on the support zone and kinda verge to break the level. Still market looks confusing at the moment, wait for the clear picture,
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#ETH perfectly moved from the support zone and moving up. Price kept on pushing internally and expected to move more higher. Right now, $2880 will the a strong area of resistance.
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The coin we are pumping tonight is: YOLO
https://www.mexc.com/exchange/YOLO_USDT
Buy and hold for massive profits🚀
Dear members,
3 hours left until the biggest pump we have ever done on MEXC!
- Our target will be 50X-100X gains today. We will be using the MEXC exchange to pump.
- We will be using the USDT pairing to buy, make sure you have USDT in your account to buy the coin.
- Hundreds of thousands of traders will be buying at once, make sure you buy early before outsiders do.
- If you plan to use your whole balance, you can buy using 75% of your balance initially at market price, use the remaining of your balance to place buy orders!
- When you buy the coin and it's time to sell, never sell on the buy supports! Instead sell slowly in parts as the price goes up.
- After buying, we highly suggest to place buy orders below the market price as the price moves up.
The recent price surge has also been a welcome relief for Bitcoin Short-Term Holders (STHs), a proxy for new demand and recent buyers. This cohort saw over 90% of their supply fall into a loss in late July, putting them into a financially stressful position.
This rally has now broken back above the STH cost basis and returned 75% of their held supply to an unrealized profit. This can be seen within the STH-MVRV metric, which has now recovered above the break-even level of 1.0.
Exactly 12 hours left for the biggest MEXC Mega Pump we’ve ever seen, expect profits of no less than 5,000% and a volume never seen before, our big whales will be pushing price up for hours after our initial signal, getting the biggest volume from outside traders, and making sure all our members make huge profits again!
Make sure you have “USDT”in your “MEXC wallet”before pumping. Be ready at 4pm GMT today.
Dear members,
Exactly 24 hours left for our biggest MEXC pump signal in history!! We expect the maximum number of participants in this pump, reaching millions of traders from every corner of the world. The whales we have on our team for this pump are the biggest we’ve ever had, We’ll be constantly pushing the price higher, not likely seeing many retracements. Buying and holding as soon as the signal is announced will be the most profitable strategy. Our goal in this pump is to guarantee all our members the biggest profits possible, aiming at a minimum of 5000%!! Big reminder that we are doing the mega pump on MEXC.