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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.
What Is Flashbots?
Flashbots was launched as an independent research and development organization with an aim to lessen the adverse effects of the Maximal Extractable Value (MEV) extraction. At the same time, the organization works to avoid the existential risk MEV poses to a stateful blockchain such as Ethereum.
Flashbots aims to provide a platform for MEV transactions that is fair, transparent and permissionless. Flashbots comes with three main goals:
—> Making the MEV revenue public
—> Making the MEV activity transparent
—> Making the distribution of MEV revenue fair
MEV Crisis
The Maximal Extractable Value is the maximum value extracted from block production in Ethereum. MEV benefits not only the transactors but also the miners (or validators). With the recent increase in the usage of Ethereum, the MEV system’s mechanism issues have posed threats to network security. The increase in demand for DeFi caused Ethereum to be congested.
As a result, Ethereum introduced an independent centralized R&D organization, FlashBots, which takes the MEV transactions off the main public chain. Flashbots keep transactions private and increase network security. They connect mining pools and searchers directly with each other while keeping information secure, making them perfect for DeFi.
How Flashbots Work?
Searchers look through the whole network for MEV opportunities. As they come across one, they launch the transaction protocol for that opportunity and upload this to the Flashbot server instead of broadcasting it to the whole Ethereum chain.
Then the Flashbots server comes into play. The bot transfers the transaction details to network miners, and a private auction takes place where miners bid on the transaction to build a block on it. Miners are also allowed to include non-MEV transactions from the public network to these blocks.
Drawbacks
Flashbots is working to make the MEV public to execute its core goal of making the blockchain network transparent and permissionless. But the mechanism is not entirely transparent. The process of generating MEV is still a black box for users.
Furthermore, Flashbots is not the only solution to the MEV crisis. Several other networks have also launched their programs for the solution.
#BNB perfectly moving up from the support zone, irrespective of the market movement and moved around 6% in favor. Keep the stops moving with the moved. Remember $562 - $571, is the minor resistance area.
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Here's the Analysis of #MANA :
#MANA is been strong rejected off from the major resistance zone of $0.80 - $0.83 and moving inside the uptrend channel pattern too. Price is expected to tap into the nearest support zone before going any up around $0.69 - $0.71. You can try to accumulate some at the support and expect it break above the resistance zone.
Big Boy Loaded Another Bag of #Bitcoin 🚀🚀
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#BNB just normally flipped above the Resistance zone with a Daily TF closure. In H4 TF price Rejecting the zone as support and open the potential gates for moving up. The next major resistance zone to look at will be $662 - $676 but there're minor one at $570. Take the zone and accordingly with proper risk.
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#BTC made with Weekly Closing just below the previous #ATH wick and moving with a low volume momentum. Looks like there's a indecision in the market and Daily TF kept on rejecting the support, so too much indecision going on. Price might gonna have a dip towards the support area before moving up.
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What Is Network-Enhanced Virtual Machine (NEVM)?
Developed by Syscoin (SYS) in conjunction with Blockchain Foundry, the NEVM (Network-Enhanced Virtual Machine) is an evolutionary computation protocol that fuses the programmability of Ethereum and EVM, or the Ethereum Virtual Machine, compatible smart contracts with the security offered by the Bitcoin network.
The NEVM effectively brings smart contract functionality onto the Bitcoin network. This is accomplished by offering smart contracts with interoperability and scalability that can support global adoption while maintaining low gas costs and facilitating decentralized settlements secured by bitcoin’s Proof-of-Work (PoW) security model.
This computational protocol combines the best of the Bitcoin network, their merge-mining hash rates, security model, UTXO efficiency, and compatibility, along with Ethereum’s broad range of smart contracts, all into a unified decentralized financial computation platform. With NEVM, users and developers can reap the dual benefits of each. First of all, the NEVM protocol eliminates the Bitcoin network’s long-standing “selfish mining” vulnerability. At the same time, it also introduces zero-knowledge proofs to ensure high levels of trustless interoperability and scalability, all on Turing-complete smart contracts.
The Advantages of NEVM
As a computational protocol, the NEVM enables smart contracts to scale up to 210,000 transactions per second (TPS) while ensuring that the accompanying gas costs remain as minimal as possible. With more upgrades due in the coming months, NEVM is projected to achieve four million TPS, the fastest throughput offered by any existing layer-1 or layer-2 solution.
With Syscoin’s product suite, NEVM solves a diverse range of problems that blockchain projects face in existing smart contract platforms. The protocol introduces many new features, including regulatory compliance for digital assets, hyper-secure transactions that can scale to support millions of users concurrently, and fully compliant toolkits for Web3, DeFi, Metaverse, and NFT projects - all without compromising core features like decentralization and security.
Other benefits include:
—> The ability to scale to an arbitrary number of transactions while eliminating the need for re-executing proofs of one-time executions
—> High levels of fault tolerance alongside interactive data
—> Trustless interoperability across individual chains
#BNB Analysis :
#BNB strongly shooting with the market momentum and Nearly reached the major resistance zone of $504 - $514. Price expected to reach the level and pullback too. Once price retraced, buy can come from the support or newly formed support area.
Here's the Analysis of #HBAR :
#HBAR is strongly rejected from the Major Support zone of $0.096 - $0.10 and broke the strcutural Resistance Zone and approaching the Major Resistance Zone of $0.152 - $0.158. Currently, price is expected to reach the support zone of $0.11 - $0.12 which can be our potential buy setups. Take the risk accordingly with proper stops and target towards resistance.
The new spot #Bitcoin #ETF products have also created a new source of demand for BTC, with an incredible +90K #BTC in net flows migrating into the ETFs. These inflows account for a staggering $5.7B, and bring the total AUM of the #ETFs to nearly $38B.
These #ETF products have for the first time allowed institutional investors to gain exposure to the BTC asset via traditional rails, opening a new degree of freedom for demand and speculation.
#UFT made a sharp push and made clean achievable target of $0.5. Price nearly moved towards the 2nd target and made a high of $0.57, which is 29.8% in profits. Secure some profits here and wait for further take profits zones.
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Here's the Analysis of #ALGO :
#ALGO is been rejected/ sell-off from the major resistance zone of $0.28 - $0.29 and Approaching towards the structural Support area of $0.24 - $0.25. Potential buys can come from the support with loose stops else wait for the LTF structural shift.
What Is a Negative Volume Index (NVI)?
The Negative Volume Index (NVI) tracks the price movements and highlights the time frames in which the trading volume decreased from a specific point in time. One of the oldest indicators in the financial world, NVI was invented by Paul Dysart in the 1930s.
The premise behind the Negative Volume Index (NVI) is that a rising trend is one that continues even when trading volume declines. The idea is that uninformative traders are to blame for the excessive trading volume. Also, during the days with low trading volume, the informed traders (also called smart money) are at play.
Why Is Negative Volume Index (NVI) Used?
NVI is a great indicator to identify the mindset of smart money. Smart Money refers to the investment coming from big investors and is often associated with big price movements in the financial markets of any asset/stock/cryptocurrency.
Professional traders prefer to trade when the smart money isn't active which keeps the volatility level and the volume of the asset is low. This situation makes for a great opportunity to accumulate.
What Is a Positive Volume Index (PVI)?
The Positive Volume Index (PVI) can be used in tandem with the Negative Volume Index (NVI). While NVI measures the decrease in volume from specific points, PVI does the exact opposite. Generally, the increase of PVI is seen as a bearish signal and greater values of NVI are seen as a bullish one.
A 255-period moving average is used to determine trend reversals. It indicates a bull market when the NVI is above the 255-period moving average. Bearish sentiment is shown by the NVI falling below the 255-period moving average. In such a case, it sends out a sell signal; however, when it goes above the 255-period moving average, it suggests a buy signal.
#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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A substantial growth in the the total short-side liquidations over the last 30-days, with over $465M in closed positions. The chart below highlights periods where short liquidations exceed those of longs, many of which align with powerful uptrends fuelled by short-squeezes.
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#BTC Updated its #ATH and there no reference level form the resistance to stop it. The only thing we can expect is a retracement and a new higher high. Although, we should keep in mind that a healthy market needs a correction too, so weekly candle might deeply retrace to a reference level and that would be a buying opportunity.
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What Are NFT Royalties?
NFT royalties are a way for creators to earn a percentage of the sale value each time their NFT is sold on the secondary market. The percentage is set by the creator at the time of minting, usually around 5-10%, and is coded into the smart contract on the blockchain. The smart contract ensures that the terms of the NFT are fulfilled, and if the NFT is sold, a cut of the profits goes to the creator.
How Do NFT Royalties Work?
The creator defines the terms in the smart contract, which then enforces the royalties automatically whenever the NFT is sold in a secondary market. Thus, creators can continue to earn income from their creation even after it has been sold once.
For example, if an artist creates an NFT and sets a royalty percentage of 10%, and then sells the NFT for 1 ETH, they would receive 0.1 ETH (10% of the sale price) every time the NFT is subsequently sold. If the NFT is sold for 10 ETH in a secondary market, the artist would receive 1 ETH as a royalty.
NFT royalties are a key feature of many NFT marketplaces. However, not all NFTs have royalty features and not all marketplaces enforce NFT royalties.
Advantages of NFT Royalties
NFT royalties benefit creators and artists, who get a recurring income from their creations. They no longer have to worry about losing out on subsequent sales of their work and can even receive increasing returns as their popularity grows. Buyers also benefit, as they can verify the authenticity of what they are buying and resell the assets at an assured price.
How Are NFT Royalties Calculated?
NFT royalties are typically calculated as a percentage of the NFT's sales price. The percentage varies between 3% to 10% and remains the same for all subsequent sales, but the amount earned by the creator may differ depending on the sales price.
Why Are NFT Marketplaces Eliminating NFT Royalties?
Some NFT marketplaces have eliminated or limited NFT royalties. This shift in trend began in the Summer of 2022 when some marketplaces made royalties optional and introduced a "tipping" system. However, this change has created financial turmoil for many artists who rely on passive income from their work. While not all NFT marketplaces have eliminated royalties, some artists have boycotted exchanges that no longer support NFT royalties for their digital assets.
How to Ddd Royalties to NFTs?
To receive NFT royalties on their work, artists must codify the royalty structure in their original smart contracts. OpenSea has introduced a new royalty enforcement tool that makes NFT royalties enforceable on its blockchain.
NFTs and Copyright Laws
Copyright laws depend on the country where the creator of the NFT is located. In general, most countries have copyright laws protecting digital works such as music, images and videos. Additionally, some countries have enacted specific legislation to address digital copyright issues. However, the legal framework surrounding NFTs is still evolving, and it is important for creators to consult with legal professionals to ensure that their rights are protected.
We've observed heavy short liquidation dominance during the rallies into ETF approvals. Despite market-neutral cash-and-carry traders favoring short positions, directional short-sellers are being liquidated at a higher rate than longs. Notably, during both ATH peaks in 2021, long traders dominated liquidation volumes due to forced closure of leveraged positions amidst intra-day volatility. The prevalence of directional short traders facing liquidation indicates a significant number of traders betting against the uptrend since October.
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Here's the Analysis of #FET :
#FET is been moved extremely multiple x from the bottom and still trending. Price broke the structural support area and going into the retracement phrase and might move lower a bit. Right now, price is middle of nowhere and its better to wait for the price to reach the proper zone for buys.
Options markets have also experienced significant growth, with open interest hitting $17.5B. This is on a comparative footing to the $21B in futures markets, which is a relatively new development since 2023.
The growth in options markets suggests that Bitcoin derivative markets are becoming increasingly mature, with investors, traders, and miners now having deeper and more liquid options to hedge and manage risk.
#BITCOIN WEEKLY TF UPDATE :
#BITCOIN continue to push with the market and make it way it to the resistance zone area and All Time High too. Price sustaining above the resistance area, which shows buyers confidence and hopefully next week come with a next push. A retracement might come along with this, which also good for a healthy market. So keep accumulating good alts and make it.
What is #DXY (Dollar Index) ?
The US Dollar Index (#DXY) is a measure of the value of the US dollar relative to a basket of six major foreign currencies. The index is designed to provide a snapshot of the US dollar's performance against a basket of other currencies that are considered to be its most significant #trading partners.
The #DXY is widely followed by currency traders, financial analysts, and investors, who use it as a benchmark for the value of the US dollar. The index is also used to hedge against currency risks and to evaluate the performance of international #investments.
Why #DXY is Important ??
It's worth noting that changes in the US Dollar Index can have a significant impact on the global financial markets, as a strong or weak US dollar can affect the prices of #Cryptocurrencies, #Commodities, #Equites, #DXY Bonds, and other financial instruments. A rising #DXY typically indicates that the US dollar is strengthening against other major currencies, while a falling #DXY suggests that the US dollar is weakening.
#DXY Analysis :
#DXY moving within zone to zone and level to level as drawn. Index Rejected from the Resistance which made the overall push in the market. Now Index, sitting at the structural support zone of where it could react off. Breaking below will leading in flow of money in different markets. Major support is at 101.2% - 101.6%.
#BITCOIN DAILY TF UPDATE :
#BITCOIN made a flash dump hitting it previous own All-Time High, and that retest dump lead to a retest now. As mentioned retest is very important for a healthy market, which leads in New #ATH now. Price still facing some strong sell pressure in the market but hoping for the bullish continuation this weekend and by next week too.
The degree of speculation within the current market can also be seen by the extraordinarily high dominance of exchanges related in/outflows with respect to all on-chain volume. Currently, 78.3% of all economical on-chain volume is being directed to/from exchanges, which is coming off a new #ATH.
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