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#BTC gave a daily closing above the Major Resistance Level but its a shallow one. Price did able to sustain above the zone and now looks like a retest is going on back to the level. Now, price has the open room for next resistance up at $44,000 - $45,000, where $43,200 will act as an strcutural resistance.
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We can see that #Bitcoin has generally been increasingly dominant over the past few years. Since the #FTX Collapse in November 2022, #BTC has increased its market cap dominance from 38.9% to 49.8%.
On the other hand, #ETH has maintained its market cap dominance, ranging from 18.9% to 18.2%. It is mainly Altcoins that have lost market share in the crypto markets with their market cap dominance dropping from 28.3% to 24.2%, while Stablecoins have also decreased their share from 13.9% to 7.8%.
#CHZ had a clean breakout of the zone and made a retest back to the zone at the strong support area. Price gave a quick reaction of 8% in favor and currently, on the way for a retest towards the zone again. Now, the range has been expanded, so same buys can be taken along in anticipation of new higher High.
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Here's the Analysis of #TRX :
#TRX is been flipped above the zone and kinda rejected off from the Major Resistance zone of $0.11 - $0.12. Price already retraced from the zone and again backed up. Well, Price formed a new Range, where a breakout will lead in the direction of the price. The range is pretty good for scalp, so take it accordingly, for a good swing, better wait for the breakout.
#Ethereum Short-Term Holder sentiment indicator, as reported by Glassnode, has made a significant shift to optimism for the first time since Nov-2021.
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#BTC experienced a breakout from the narrow trading range but faced rejection at the $42,000 resistance zone. If the price fails to surpass this level, a retracement back to the $40,000 zone is likely. It's advisable to set stop losses in all open positions to manage risk effectively.
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What is Snapshot ?
Traditionally, the term snapshot refers to the ability to record the state of a computer system or storage device at a specific point in time. In cryptocurrencies, a snapshot is often describing the act of recording the state of a blockchain on a particular block height. In this case, the snapshot records the contents of the entire blockchain ledger, which includes all existing addresses and their associated data (transactions, fees, balance, metadata, and so on).
Snapshots are commonly used during airdrops events before each round takes place. During an airdrop, tokens are distributed based on the balance of each blockchain address. In this case, snapshots are taken to record the balance of each token holder, at a specific point in time (i.e., block height). In most cases, users can move their funds after the snapshot is taken, without compromising their eligibility to participate in that round of distribution.
Snapshots are also important during blockchain hard forks, as they mark the block height in which the main chain will be recorded before giving birth to the new chain. For instance, when the Bitcoin Cash hard fork took place (on August 1st, 2017), every blockchain address that had Bitcoins at block 478,558, had the balance copied on the Bitcoin Cash blockchain. The reason for that is because both blockchains share the same historical data prior to the fork. As soon as the split is done, each blockchain network will operate independently.
According to #Glassnode, a number of long-term holders cut their losses two days ago, sending more than $430 million in Bitcoin to the exchange on January 22.
Recently, short-term and long-term hodlers have stopped taking profits, but switched to cutting losses.
Here is the analysis of #SUPER:
The price is currently fluctuating within the support and resistance zones. There is a possibility of a movement towards the support zone, presenting an opportunity for new entries in that area. Note that a small downtrend line acts as a resistance area, and a downtrend channel is observed on lower time frames. The overall structure is bearish until we see a test of the support zones.
Keep a close eye on the price dynamics, especially around the support and resistance zones, for potential market setups.
#BTC created the low around $38,550, nearly reaching the area of support. Still anticipated price to reach either end of the zone (a clean retest or tap in into support). Daily TF, build up a support where, retest are high probable, also price travelling inside the downtrend channel pattern and breakout of that and resistance would be considered as bullish.
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What Are Laser Eyes?
The laser eyes meme, popularized on Twitter, symbolizes a bullish stance on Bitcoin's price, aiming for $100,000. Advocates of this trend, exhibiting strong confidence in Bitcoin's future, are often characterized by "diamond hands," signifying a long-term HODL strategy to accumulate more BTC. Originating from the #LaserRayUntil100 hashtag in February 2021, the meme involves users adding red (or varied colored) laser beams to their profile pictures for 24 hours, with some adopting it permanently.
Initially associated with superheroes, laser eyes became a symbol of extraordinary power. Influential figures like Elon Musk, Tyler Winklevoss, Tom Brady, US Senator Cynthia Lummins, and El Salvador’s President Nayib Bukele have supported the laser eyes campaign, showcasing their backing for Bitcoin. Even Ricardo Salinas Pliego, Mexico's third wealthiest individual, has expressed his support for BTC through this viral meme.
#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.
Here's the Analysis of #ZRX :
#ZRX gave a break of the major level of $0.30 - $0.31 and off the large downtrend channel too. Price rejected from the Resistance Area (Grey Box) around $0.38 -$0.39. Well, right now, price is middle of the nowhere, so its better to wait for the price to reach key levels. Alternatively, a retest of the downtrend channel would be great setup to buy continuations.
ICP did gave a break below of the zone but on Daily TF, its was a clean rejection candle. Price retested the zone as support and created a bullish market structure. Moreover, it boke the downtrend resistance line showing buyer confidence. Buys setup will come from the support zone of $11.80 - $12.2, so have an eye on it.
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#BITCOIN WEEKLY TF UPDATE :
#BITCOIN on Weekly TF, did as expected. Price drove all the way down towards the support zone nearby $38,000 level and getting rejected from the level. Now, its tike to see the price if its break through the resistance zone of $42,000 and need a weekly closing above it. Also, worth of noting that, it will form a consolidation range, in case weekly then we should look for a weekly breakout, which might take bit longer.
#APY vs #APR: What’s the Difference?
#APY, or annual percentage yield, incorporates interest compounded quarterly, monthly, weekly, or daily, while APR, or annual percentage rate, doesn’t. This simple distinction can make a significant difference to the calculations for returns over a period of time. It is therefore important to understand how these two metrics are calculated and what it means for the returns that you can earn on your digital funds.
#APR
#APR stands for annual percentage rate. This is the simpler of the two terms. In simple terms, the Annual percentage rate is the interest a lender is bound to earn on their money. Also, the borrower pays for the interest over one year.
#APY
#APY stands for Annual Percentage Yield. Unlike in the #APR model, where you get a fixed amount after every year, which is decided upon by the initial principal amount itself, in the annual percentage yield, you will receive some interest every month.
#SUPER has broken out of the small downtrend channel and is currently heading towards the major resistance zone. Traders may want to consider a potential setup for short positions near the resistance zone. Keep a close eye on the price action for confirmation and adjust your strategy accordingly.
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Here is the analysis of #MULTI:
The price broke the falling wedge pattern but encountered significant rejection at the resistance area. Currently retracing after the pump, there's a possibility of sideways movement near the $2.10-$2.25 support zone. This could present an opportunity for considering new long positions.
#CHZ has broken out of the triangle pattern and the major resistance area with substantial volume. If you're holding long positions, consider moving your stops to the breakeven point. There's a potential for a move towards the $0.123-$0.132 resistance zone in the coming days, and this zone could be an opportunity for profit booking.
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#BTC doesn't made a move al all and price did moved aggressively as predicated as breakout was not healthy. Price made a small range after the tiny break and on daily TF, look like price trying having a pullback back inside the major resistance. Need to see a strong breakout either side.
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#ETH approaches the support area and encounters strong buying pressure in this zone. Consider establishing long positions near the support area. There is a possibility that the price may trend towards the formidable resistance zone around $2400. Keep a close eye on the market dynamics for potential opportunities.
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#BTC slides below the Major Support Zone now and turned it into the Major Resistance now. Price given a sharp closing below the strongly, expected to reach out the next support zone of $38,000. Before that a retest is expected back tot major level before going any lower. This week, the weekly candle will play an important role for the market.
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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.