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What Is Gas?
Gas on the Ethereum network is the compensation given for utilizing the platform's computational power. This fee is essential for activities such as launching decentralized applications (DApps) and basic transactions like sending ETH. Users pay this fee in Ether (ETH), the native currency of the Ethereum platform.
Gas is measured in small units known as gwei, with one gwei equal to 0.000000001 ETH. The amount of ETH paid in a transaction depends on the resources needed for the transaction and the blockchain's congestion level.
The introduction of transaction processing costs on the blockchain simplifies resource computation for executing transactions. It also distinguishes between computational expenses and the digital currency itself. Charging fees for each transaction acts as a deterrent against spamming and enhances network security.
Users can estimate their gas costs using platforms like ETH Gas Station. However, lower-priced transactions may take longer to process, as miners prioritize transactions with higher fees, which are more lucrative for them.
To illustrate, consider moving funds between traditional bank accounts. In the Ethereum network, the total ETH involved in a transaction is equivalent to the amount being moved, and the gas fee is akin to the transaction fee in traditional banking.
It's crucial to note that gas on the Ethereum network differs from GAS on the NEO blockchain. While on NEO, GAS is a standalone currency, on Ethereum, it represents the cost of running transactions.
Dear members,
6 hours left until the biggest signal we have ever done on MEXC!
- Our target will be 100x-200x gains today. We will be using the MEXC exchange.
- We will be using the USDT pairing to buy, make sure you have USDT in your account to buy the coin.
- Hundreds of hundreds 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.
#bitcoin just did a climb up towards the 1st resistance area and broke above it. Well, price is coming from the major support and expected to reach to next major one. Meanwhile, price is retesting the zone as support, which could push the price higher towards the Resistance Area. A ton of liquidity build along both side, let's see which side market will take it 1st.
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#TOTAL MARKETCAP UPDATE :
Marketcap moving into the positive side and even though 4H given a close below of the support area of $1.59T - $1.60T, but Daily giving a close above and multiple wick rejections, showing bullishness. Well, a whole lot of push is anticipated towards the major resistance zone of $1.75T - $1.78T, where alts could fly smoothly.
#BTC.D (#BITCOIN Dominance) Update :
#BTC.D losing it dominance which lead is massive money flow in altcoins. Index reacted from a resistance somewhere in between and back to the Major Support Area of 51.81% - 52.03%. Daily Candle Closing Below, will lead in further move in alts else a rejection would be a matter of concern for a short-term correction.
Here's the Analysis of #SUPER :
#SUPER is been ranging between the a large consolidation, where daily gave a strong rejection from the Resistance zone of $0.71 - $0.72. Price still maintaining the bullish market structure and hoepfully, gonna have a breakout soon. In case, daily candle closes above the resistance area, then you can look for buys over the it.
What Is Maximal Extractable Value (MEV)?
Maximal Extractable Value (MEV), formerly known as miner extractable value, gauges the profit potential for miners, validators, sequencers, etc., by allowing them to arbitrarily manipulate transactions within the blocks they generate. MEV represents the overall profit achievable through ordering, including, or omitting transactions from a block. While it offers additional revenue streams, MEV introduces potential risks to a network's security, fairness, and stability.
The relevance of MEV has surged with the rise of decentralized finance (DeFi) platforms on blockchain ecosystems. These platforms facilitate intricate financial transactions, and as the volume and complexity of transactions increase, there is a higher risk of exploitation by malicious actors.
The concept of MEV dates back to the early days of blockchain, gaining prominence with Ethereum's smart contract capabilities. Ethereum's programmable nature has led to the development of diverse financial products, creating opportunities for extraction by both savvy and unscrupulous actors.
Unlike proof-of-stake chains, proof-of-work chains like Bitcoin are less susceptible to MEV. Bitcoin's lack of smart contracts limits opportunities for transaction reordering. Consequently, parties seeking to exploit MEV opportunities typically focus on ETH rather than BTC due to Ethereum's versatile smart contract functionalities.
How Does MEV Work?
Opportunities can arise when actors with influence over transaction orders can benefit from them. Examples are price differences between DEXs or liquidation events in lending platforms.
The key idea is that transactions compete with each other for confirmation. When a user submits a transaction, it is broadcast to the network and placed in a pool of pending transactions known as the mempool. The transactions with the highest transaction fees tend to get prioritized by profit-seeking miners and validators. Thus, strategically manipulating the ordering of transactions within a block allows them to increase their profits at the expense of others.
#BITCOIN WEEKLY TF UPDATE :
#BITCOIN on Weekly TF, did a close below of the zone, which might be a potential fakeout for the market. Well, price is now retracing back to the resistance area,where is rejecting a bit. But overall market is in bullish sentiments, so a close above will push the price to expected area around $46,600 - $$47,200.
What Is Ethereum Request For Comment (ERC)?
Ethereum Request for Comment (ERC) is a set of standards and guidelines for proposing improvements to the Ethereum blockchain. Each ERC defines a unique protocol or set of rules, specifying how new features, tokens, or functionalities can be added to the Ethereum network. These standards facilitate interoperability and compatibility among different Ethereum-based projects.
ERCs are similar to proposals in Bitcoin as BIP , and they play a crucial role in the development and evolution of the Ethereum ecosystem. They cover various aspects such as token standards, smart contract interfaces, and other technical specifications. Developers and the Ethereum community use ERCs as a collaborative tool to discuss, debate, and refine proposed changes before implementing them on the Ethereum blockchain.
Common ERC standards include ERC-20 (fungible tokens), ERC-721 (non-fungible tokens or NFTs), and ERC-223 (token transfer improvement). Each ERC standard addresses specific use cases and requirements, promoting consistency and widespread adoption across the Ethereum platform.
#BITCOIN DAILY TF UPDATE :
#BITCOIN pushes down over the resistance zone of towards the structural support area and made strong rejection from there. Well, its back towards the build-up resistance again, so now its formed a range. Dynamics has been changed but anticipation would be same, so eyes on Same breakout level.
Another this to notice that, H4 consolidating in a very tight range below the Zone, which also lead the short-term bearish move.
One notable characteristic of the 2023 market is the remarkably limited depth of price pullbacks and corrections. In historical terms, during bear market recoveries and bullish trends for BTC, it's common to observe pullbacks of at least -25% from the local high, with many instances exceeding -50%.
Yet, the most substantial correction in 2023 amounted to just -20% below the local high. This implies that the buy-side support and the overall supply and demand balance have been favorable throughout the year.
Here's the Analysis of #XRP :
#XRP is been kinda ranging between the major resistance area of $0.68 - $0.69 and strong support around $0.59 - $0.60. The intermediate Resistance is at $0.633. Fir Short selling setup have to wait for the price to break below the zone Entries at the retest.
Here's the Analysis of #FTT :
#FTT is been following a uptrend channel pattern and currently retesting the strong support area of $4.75 - $4.87 . Price also forming a triangle pattern, where breakout is pending. You can wait for the price to break out and take entries. For short-sells, its also a pretty handsome range to take it, in case of break below.
Here's the Analysis of #SAND :
#SAND is been rejected off from the resistance area of $0.580 - $0.587 and currently, melting below the support zone of $0.51 - $0.52. This zone will act as resistance after the closing and give the shorting opportunity till next support zone of $0.450 and lower and the next strong support zone of $0.37 - $0.38.
Here's the Analysis of #STX :
#STX is got a strong Rejection From the Major Resistance Zone of $1.20 - $1.23 and also flipped below the strong area of $1.03 - $1.06. Currently, price testing as resistance area, which can lead the price for a downmove. In case price flip the zone, then you can enter into buys targeting major resistance area.
3 hours left until the mega pump on MEXC! Things are looking great for us and we will definetly be expecting a very nice signal!
Here is a list of things you need to know before the Mega signal:
- 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 signal will be free for all and on MEXC, the signal will be given on all our telegram groups at the same time
Here's the Analysis of #IOTX :
#IOTX is been rejected hard, from the Major Resistance of $0.060 - $0.064 and resting above, the support zone of $0.046 - $0.048. Price discovered a new range where price will move, in case price break below he support zone then we can go for a shorting opportunity else, buy will be high probable till Major Resistance.
Here's the Analysis of #ROSE :
#ROSE flipped above the strong level of Resistance of $0.114 - $0.121, where price already tested the zone as support and an another retest is expected towards the zone again for continue pushing towards the Next Resistance area of $0.161 - $0.166, as its moving properly inside the uptrend channel pattern.
Hey fellas!! Great news for y'all 🥳
We have received a lot of request from our community for a massive GEM coin signal on MEXC and our team have been working on this. We will share a 100x-200x GEM MEGA PUMP SIGNAL for you guys in next few days🚀
Meanwhile you can transfer a little fund on MEXC exchange so you don't miss this great opportunity because There's a high likelihood of this GEM coin listing on Binance and other major exchanges in the coming months. The project team's track record with Binance-listed coins speaks volumes.
Date & time of MEXC MEGA PUMP SIGNAL : 2pm UTC, December 29
Stay tuned. Happy trading 😊
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.
Bitcoin prices consolidated between the 200D-SMA 🔵 and the True Market Mean Price 🟢 until August, marking one of the least volatile periods in Bitcoin history. Following this, a rapid deleveraging event caused prices to drop from $29k to $26k in a single day, falling below both long-term technical price averages.
It was the rally in October which really changed the game, recovering through all remaining price models, and breaking through the key psychological $30,000 level.
#DXY UPDATE :
#DXY is been followed the plan perfectly, market also co-related with the movement too. Index reached the major support zone and now, its a matter of time to wait, for the Monday Market Open. Index already being having a rejection, but a wait for a clear break or a rejection with a weekly candle, which will decide the Next Market Move in the Market.
Here's the Analysis of #WLD :
#WLD is been printed a new #ATH (All-Time High) a week ago, and in a retracement phrase, by which dropped around 31%. Well, nothing can be done here, better wait for a deeper pullback till support area at $2.35 or bear minimum at $2.73. On H4 TF, Price creating a Falling Wedge Pattern, by which a breakout will decide the next direction of it, so have an eye on it.
Looking at on-chain data, the Realized Cap serves as a valuable metric for monitoring the resurgence of capital inflows into BTC and ETH. During the bear market of 2022, both assets experienced a decline in Realized Cap, indicating a net outflow of capital, reaching approximately -18% for BTC and -30% for ETH, similar to historical cycles.
Interestingly, the recovery of capital inflows has been notably sluggish. Bitcoin's Realized Cap ATH reached levels observed over 715 days ago, in contrast to the faster full recovery seen in previous cycles, which typically took around ~550 days.
Here's the Analysis of #FET :
#FET is been made a easy flip above the major Resistance Area of $0.57 - $0.59 and made a rejection from the Strong Resistance zone of $0.71 - $0.75. Currently, price is again testing zone, and expecting a breakout now. In case price breaks below the $0.69 level the we can go for shorting opportunities which decent lots.
#Bitcoin got a rejection from the structural resistance and major support zone, in which price formed a new tiny little range. Well, price is been forming a triangle pattern and where it could take some more time to break it. So, have an eye on the pattern and the zones as well. Also, market is driving through the less volume these days, so not expecting much any sooner.
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#ORDI exactly moves what we anticipated and again it followed the same. Price again made a retest back to the zone and move near to its #ATH(All-Time High). Well, trade made profit around 52.3% and i hope you secured some at the top. Price is again dipping and a potential buys again come but wait for the candle closing.
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Here is the analysis of #HOOK:
#HOOK experience multiple rejections at the resistance area of $1.18 - $1.21 and there is a high volatile volatile big wick moving back and forth over the zone of support around $1.02 - $1.04. Price is kinda consolidating between the zone and its a tradable range of 12% for short-term move. Alternatively, you can wait for a breakout to happen to take the potential setups either side.
#Bitcoin made a sweep of liquidity of the previous Higher High and range below the Resistance too. Price gave a sharp down, which was already mentioned and expected normally. Price straightaway moved into Major Support Zone of $40,800 - $42,000 and below it. Well, the momentum turning bearish and daily closing below $43,300 will create a bearish Market Structure.
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Here's the Analysis of #ORDI :
#ORDI printed its All Time High Back 2 days ago and now in a retracement phrase reaching the strong support zone of $42.90 - $44.61. Also, Price formed a Head and Shoulder Pattern, which is kinda a reversal pattern, which might lead in price for strong pullback. Price is already near its ATH, so better wait for the oppotunrities.