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#BITCOIN WEEKLY TF UPDATE :
#BITCOIN on Weekly TF, gave a rejection from the Resistance but Daily market structure is still bullish at that point. Currently, we've a long huge candle which trying to break and close above the zone of resistance around $46,680 - $47,200. This weekly close is important to us, as it may drive through the next resistance zone around towards $52,400 and a close below will lead into a healthy retracement in the market.
What Is a Market Maker ?
A market maker is a participant in the market who provides liquidity by placing limit orders on the order book. They do this by continuously buying and selling assets to maintain an active market. Market makers typically profit from the spread—the difference between the buying price (bid) and the selling price (ask). They usually place orders slightly below the current market price (bid) and slightly above it (ask). Market makers help ensure that there are always buyers and sellers in the market, facilitating smoother trading and tighter bid-ask spreads.
Imagine you're a market maker trading Bitcoin on an exchange. Your goal is to provide liquidity to the market by continuously quoting bid and ask prices for Bitcoin. Here's how it works:
1. Placing Orders: You place limit orders on the order book to buy and sell Bitcoin. For example, you might place a bid to buy Bitcoin at $40,000 and an ask to sell Bitcoin at $40,050. These orders are typically placed slightly above the highest bid and slightly below the lowest ask to capture the spread.
2. Maintaining Liquidity: As the market moves, you adjust your orders to reflect the changing price dynamics. If the price of Bitcoin rises, you might adjust your bid to $40,010 and your ask to $40,060. By continuously updating your orders, you ensure that there are always prices available for traders to buy and sell Bitcoin.
3. Profiting from the Spread: You make money from the spread—the difference between the bid and ask prices. In our example, if a trader buys Bitcoin from you at $40,050 and immediately sells it back to you at $40,010, you earn a profit of $40 per Bitcoin. This profit compensates you for providing liquidity to the market.
4. Managing Risk: As a market maker, you also need to manage your risk exposure. If the price of Bitcoin moves against your position, you may incur losses. To mitigate this risk, you might use hedging strategies or adjust your position size based on market conditions.
Overall, as a market maker, your role is to provide liquidity to the market, maintain tight bid-ask spreads, and facilitate smooth trading for other participants. By doing so, you help ensure that the market functions efficiently and that traders can execute their orders quickly and at fair prices.
#LDO moved from the major support zone as per from our call, and moved 15.8% in profits. Price looks very corrective and might move down back to the support, so it better to Breakeven and even secure something. $3.18 will be stand as resistance area and TP for us,
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#ETH UPDATE :
#ETH goes as said, price made its way through the major resistance zone of with a daily candle closure. We attached a Daily TF SS, price made a retest and strongly jumped. Market structure is moving bullish, and as long as price hodl above $2,400 then we can consider it bullish and next target will be $2,700.
During network growth, exchange-related volumes rise. Using Glassnode's entity-adjustment heuristics, we'll focus on Exchange Inflow Volumes, a direct measure of spot trading activity.
We'll employ a basic fast/slow moving average crossover analysis, identifying periods where the 30-day SMA surpasses the 365-day SMA, indicating heightened short-term activity.
Analysts may also examine the deviation between these moving averages and their gradient for advanced insights and divergences.
#Bitcoin kept on pumping as the breakout happens and gave a Daily Candle Close above the Resistance Area too. Price still pushing higher and expected a retracement from the next resistance area around $47,000.
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What Is a Mainnet Swap?
Mainnet swap is the migration of a cryptocurrency project from a third-party blockchain network, such as Ethereum, to its native blockchain network.
A third-party blockchain network is used when a cryptocurrency project is in its testnet phase. But once it moves from the testnet phase to the mainnet phase, users receive native cryptocurrency in exchange for their third-party tokens. That’s why it is also called token migration or token swap. At its core, the mainnet swap is the exchange of third-party tokens with the platform’s native cryptocurrency.
Better Understand Mainnet Swap
Since 2017, ELF has been held as an Ethereum based #ERC-20 token. After spending considerable time testing the security and reliability of its platform, they announced the mainnet swap on September 9, 2021. Typically, the mainnet swap follows a 1:1 ratio. Once it is completed on the entire blockchain, the remaining tokens are burned.
Another example of a mainnet swap is #BNB (Binance Coin). When Binance Chain was in its testnet phase, it was using the Ethereum based ERC-20 BNB token. However, after the mainnet launch, #ERC-20 BNB token holders were encouraged to migrate to the BEP2 BNB coin (the native coin of Binance). This swap occurred at a 1:1 ratio, meaning 1 #BEP2 #0000000d BNB coin equaled 1 ERC-20 #BNB.
When Does Mainnet Swap Occur?
Typically, a mainnet swap occurs when a cryptocurrency project moves from one blockchain to another or migrates its tokens from a third-party blockchain to its native chain. However, the mainnet swap isn’t associated exclusively with new blockchains. A project may announce it if it decides to move from one protocol to another. One example would be the migration of tokens from Bitcoin-based protocol to Ethereum network.
When it comes to the specifics of a mainnet swap’s execution, it varies from project to project. The majority of projects give a deadline to users for the migration of tokens. Failing to do so means you will end up losing access to your tokens as they’re usually burned after the given deadline.
How Is the Swap Done?
Depending on the main features of execution, users can either manually swap their tokens or leave them to the platform. For example, Binance allowed users to leave their previously issued tokens on their accounts, so the platform could automatically swap their tokens with native tokens.
#TOTAL2 (Altcoin MarketCap) Update :
#TOTAL2 kept getting strong and hodling the support zone too. Index rejected the support and reached the structural resistance area. #bitcoin also gave a breakout over the zone and pattern, and a closure above will give a confidence to buyer, which will bring up an alts rally.
Here's the Analysis of #ADA :
#ADA is been rejected from the Strong Resistance Zone of $0.67 - $0.69 and moving within the falling wedge pattern. The pattern aiming towards the major support zone of $0.41 - $0.42. In case of early breakout, you can look for buying opportunities with a structural resistance break.
Exchanges continue to be the main hub for trading activity, with deposit and withdrawal volumes soaring to $6.8 billion per day. This exchange-related activity now represents approximately 88% of all on-chain volume. The current influx of volume in and out of exchanges is comparable to the peaks seen during the 2021 bull market, with only a small fraction of trading days surpassing it. These figures highlight a growing interest in Bitcoin among market participants.
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#BTC still moving within a range and made a triangle formation. A range inside a pattern is a strong signal of a big accumulation or distribution goin on. We've to wait for a breakout of the zone either side, and also we're expected a retest back to the major support zone, before moving with any major direction.
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MicroStrategy bought 850 #BTC for $37.2 million, increasing their total holdings to 190,000 #BTC
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When MVRV nears 2.00 (yellow line), Bitcoin previously exceeded $50,000. Rising MVRV with MA30d implies market cap surpasses realized cap, causing increased selling pressure. This phase historically precedes a local top, leading to a strong bull market, pushing BTC to new highs and MVRV to the Distribution range (red line).
After the recent $49,000 peak, a -20% correction occurred. The question arises if this selling pressure will return MVRV to the Accumulation range (green line), as seen in 2019-2020. Despite this, the upcoming Halving event in less than 3 months is a positive catalyst historically marking the start of a new bull market.
#BTC.D maintaining above the support zone and already started struggling to push higher. A short-term rally is expected in altcoins and a drop, as Dominance giving signals for a rise. In case #BTC started dropping with rising index then alts with flow with that and might remains the stable too.
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#BTC now goes with the range as expected, price started ranging between the $42,000 and $45,000 level. Price kept on hodling the trendline too, if this sustains then its good, and approach towards the $43,500 and $45,000 is expected otherwise, a drop back to $42,000 will kept this range going on.
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Here's the Analysis of #INJ :
#INJ is been kept on bouncing from the support zone of $29.8 - $31.1. Currently, price is moving inside the downtrend channel pattern, where could take a breakout from here. In case if it failed to break it, then we can expect it to move lower back to support and that will be a decisional point to take the setup, so until that wait for the clean breakout.
during market uptrends, spot prices consistently exceed the cost basis of increasing coin supply, indicating profitability. To smooth fluctuations, a 90-day EMA is applied to total Supply in Profit [BTC]. Rising 90-day EMA indicates positive momentum, depicted as a 🔵 oscillator. Positive values signal supply in profit growth over 30 days. Advanced analysis focuses on oscillator magnitude and divergences, especially around cycle extremes. It more in profits now as #BTC Moves above $47,000.
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#BITCOIN DAILY TF UPDATE :
#BITCOIN going as expected, as it shifted the market structure from bearish to bullish. Price easily reached the Major Resistance Zone, within a week and kinda getting rejection from it. Weekly candle close will be very important to us. Nothing new, if price comes for a pullback, nearby $44,000, so eyes on Weekly closings.
What Is a Man-in-the-Middle Attack (#MITM)?
In cryptocurrency or computer security, a man-in-the-middle attack (#MITM) attack is a general term for a cyberattack where a perpetrator positions himself in a conversation between two parties either to secretly eavesdrop, intercept communication or modify traffic traveling between the two. The two parties who believe that they are directly communicating with each other are communicating or sharing information with a third party, making it appear as if a normal exchange of information is underway. The perpetrator must be able to intercept all relevant messages passing between the two victims and inject new ones. In most cases it is easy; for example, an unencrypted WIFI can be used by an attacker to place himself as a middle man in a conversation. MITM attacks are a tactical means to an end to stealing, for example, login credentials or personal information like a private key, spy on the victim, or sabotage communications or corrupt data. encryption can help protect against MITM. However, successful attackers will either reroute traffic to phishing sites designed to look legitimate or simply pass on traffic to its intended destination once harvested or recorded, meaning detection of such attacks is incredibly difficult.
As #MITMs try to avoid mutual authentication, it can only succeed when the perpetrator successfully impersonates each endpoint sufficiently enough to make them believe. Endpoint authentication is used by Most cryptographic protocols in an attempt to prevent MITM attacks. For example, TLS can authenticate one or both parties using a mutually trusted certificate of trust. A man-in-the-middle Attack (MITM) should not be confused with meet-in-the-middle Attack.
#ADA gave a early breakout with a daily candle closure, but to turn truly bullish, it been a matter to break above the Flip Area/ Resistance (Blue Box) around $0.54 - $0.55. After a clean break, we can have clean buys above the zone with a retest.
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Here's the Analysis of #GAL :
#GAL is been broken the Downtrend Resistance line and trying to move u. Price already made strong bounce from Strong Support Zone of $1.65 - $1.73, so expected it to reach out the next end of the zone of Resistance around $2.56 - $2.61. Longing opportunities can be taken after the daily closure of the Resistance (Blue Box) around $2.16 - $2.20.
A pattern of profit realization has emerged, reflecting the current market sentiment. The provided chart illustrates the average profit or loss per coin sent to exchanges. During the peak of #ETF speculation, this metric surged to an average profit of $3.1K, coinciding with the climax of the April 2023 rally. However, this figure pales in comparison to the $10.5k average profit recorded during the peak of the 2021 bull market. The recent decline suggests a significant cooling off, indicating a potential shift in market dynamics.
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#BTC made a break of the Triangle pattern and the structural resistance area too. Price straight away entered into Resistance now and expected a drop now back to the support zone. Alternatively, a break and close above of daily candle is required for turned the overall market direction.
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Benefits of Loan-to-Value in Crypto Lending
The beauty of Loan-to-Value (LTV) in crypto lending lies in its dual role—it serves as a safeguard for lenders while empowering borrowers to gauge and manage their own risk effectively. In the realm of traditional collateral-based lending, LTV acts as a litmus test for risk, where a higher LTV translates to elevated risk for the lender, leading to an increased interest rate for the borrower. The correlation is clear: the more substantial the loan compared to the collateral, the riskier the venture.
Now, enter the world of crypto-backed loans, and the LTV takes on a pivotal role in ensuring the timely and complete repayment of loans. The LTV becomes the linchpin of risk mitigation for investors. In the event that a borrower is unable to fulfill their repayment obligations, the safety net kicks in—part of the collateral is liquidated to offset the outstanding loan amount. This mechanism not only protects the lender from potential losses but also fosters a sense of security in the overall lending ecosystem.
For borrowers, the LTV ratio becomes a powerful tool for self-assessment. Picture it as your personal risk-o-meter. Different lending platforms offer varying LTV ratios, spanning from a conservative 5% to a more daring 70%. Opting for a lower LTV provides you with a cushion of safety. Should the market experience a downturn, your assets are less likely to face immediate liquidation, granting you time and breathing space to navigate through market fluctuations.
On the flip side, embracing a higher LTV means you're playing in the fast lane. Extraordinary market situations demand swift decision-making, as your collateral becomes more susceptible to liquidation in order to settle the outstanding loan. It's a high-stakes game that necessitates a keen awareness of market dynamics and the ability to make nimble moves.
In essence, the benefits of Loan-to-Value in crypto lending extend beyond a mere risk metric. It's a dynamic tool that balances the interests of lenders and borrowers, fostering a symbiotic relationship within the crypto lending landscape. As investors seek security, and borrowers navigate risk, the LTV emerges as a crucial factor, orchestrating a harmonious dance between risk and reward in the ever-evolving crypto financial arena.
#TOTAL MARKETCAP UPDATE :
#TOTAL Marketcap, started moving back and forth in the major level. Index formed a small and tight range (Blue Box) and need to breakout either side of the zone. Just not a Breakout, #Bitcoin is also ranging, so this mess might continue till halving.
Notice of Removal of Margin Trading Pairs - 2024-02-16
https://www.binance.com/en/support/announcement/772c3895550d4b858e4747030c9a6068
#ETH is been moving very corrective after bouncing off from the strong support zone. The price looks like very struggling but anyways reaching the Major Resistance zone of $2403 - $2424. Price might reach through it, but over all its looks bullish as it broke the trendline too. Daily TF attached with the chart and looks like, it stuck in a range, so eyes on break now.
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#THETA unable to hodl its right shoulder move and making it way down as per the 2nd scenario. Price already made a retest and expected to move lower, so manage the stops and position size accordingly. Target will remain the same as support around $0.87.
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Binance Will Delist ANT, MULTI, VAI, XMR on 2024-02-20
https://www.binance.com/en/support/announcement/f73b083ba6834771b07dbe5319917ae5
Here's the Analysis of #RNDR :
#RNDR moving inside the small uptrend channel approached the strong resistance zone of $4.89 - $4.96. Price moved the market structure to bearish and hodling nearby the bottom line of the channel pattern. So, with that bearish structure, expected a break to happen, and shorting only after a retest of the pattern.