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#BTC didn't gave any strong movement, price just Consolidating in a range, while testing the resistance area of $26,900 - $26,970. A flip above will still have multiple obstacles over there but a rejection is highly expected. Keep an eye on breakout of the range.
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What Are #Bitcoin Ordinals?
The #Ordinals protocol is a system for numbering #satoshis, giving each satoshi a serial number and tracking them across #transactions. Simply put, ordinals allows users to make individual satoshis unique by attaching extra data to them. This process is known as “inscription”.
Satoshis are numbered based on the order in which they were #mined and transferred. The numbering scheme relies on the order satoshis are mined, while the transfer scheme relies on the order of transaction #inputs and #outputs. Hence the name, “ordinals”.
While traditional #NFTs are similar to ordinals in some ways, there are a few key differences. NFTs have typically been made using smart #contracts on blockchains such as #Ethereum, #Solana, and the #BNB Smart Chain, and sometimes, the assets they represent are hosted elsewhere.
Conversely, ordinals are inscribed directly onto individual #satoshis, which are then included in blocks on the #Bitcoin #blockchain. Ordinals reside fully on the blockchain and do not require a sidechain or separate token. In this sense, ordinal inscriptions inherit the #simplicity, #immutability, #security, and #durability of Bitcoin itself.
#FTM is been consolidating in a range and did gave any move barely. Price will decide the movement after a breakout if the range. You can take the position accordingly after a breakout.
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Here's the analysis of #APT :
We've already running the analysis of the #APT here (Analysis), are trades running too. Both trades were in profits. Better to cut out the positions. Next drop is expect till support zone of $6.90 - $7.15. Don't hurry for buys over that support area hodl the sells and wait for buys
What is an Elastic Supply Token?
An #Elastic Supply Token, also known as a rebasing token or a #reflexive token, is a type of cryptocurrency whose supply adjusts or "#rebases" dynamically based on predefined rules or algorithms. The goal of an elastic supply token is to maintain a stable purchasing power or price stability over time.
Unlike traditional #cryptocurrencies with fixed supplies like #Bitcoin, which have a limited number of coins that will ever exist, elastic supply tokens have a flexible supply that can expand or #contract based on certain conditions. The supply adjustments are typically triggered periodically, often daily or even more frequently.
The rebasing mechanism of elastic supply tokens works as follows:
Price-based Rebase: The #supply adjustments are triggered by the token's price movements. When the token's price exceeds a certain threshold, the token supply expands, and when the price falls below that #threshold, the token supply contracts. This expansion and contraction aim to influence the #token's price towards a desired target.
Supply Expansion: When the token's price exceeds the threshold, new tokens are #minted and distributed proportionally among token holders, effectively increasing the #supply. This process is often referred to as a positive rebase.
Supply Contraction: Conversely, when the token's price falls below the threshold, a fraction of tokens is taken from holders' #balances to reduce the supply. This process is often referred to as a negative rebase.
The goal of an #elastic supply token is to maintain price stability or a specific price target by adjusting the token #supply based on market #demand. The supply adjustments aim to incentivize buying or selling #pressure to restore equilibrium and minimize price #volatility.
#Ampleforth (#AMPL) is one example of an #elastic supply token that utilizes a rebasing mechanism to achieve price stability. However, it's important to note that elastic supply #tokens can be complex and come with their own considerations and risks, so thorough #understanding and research are crucial before #engaging with them.
#BTC gave a clean break below of the zone and was price unable to hodl above it. Price reaching out the minor support area nearby $26,000. Can't anticipating any strong Bounce or reversal from there, so look for shorts in alts.
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#TVK looking ready for a ride again 🚀
You can buy it now if you missed quick gain from this gem last time ✌🏻
#TVK/BTC BUY/LONG CALL
Lying above strong support. EMA'S are also acting as a support. MACD crossover is showing bullish momentum. It will pump hard from here 🚀
Targets: 133-167-200-245 satoshi
Stop if 1D closes below 109 satoshi
There're some rumours that #US Government selling publicly Siezed #Bitcoins.
As per Glassnode data, there isn't any change
#Bitcoin jumped yesterday, due to #CPI Data out but made a immediate correction in move back to lower support zones around $26,900 - $27,000. Price Rejected sharply and kinda consolidation now. Overall, is a no trade range, so better wait for the market to clear the direction.
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$17.7M #USD earned through transactions fees, in a single day by miners. Also, we can see, these massive fees hikes comes nearby the top of the market.
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#LTC dropped to the zone as mentioned, and took a bounce over there too. Price not testing the resistance area and building a fresh resistance too. A potential lower low is expected from here otherwise we can see this range to play.
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Here's the analysis of #XRP :
#XRP is been rejected sharply from strong resistance level at $0.479 - $0.484 and dropped till major support area around $0.420 - $0.424. Daily TF and H4 Voth respecting this level, so most likely a decent pullback gonna come till $0.444 resistance. Alternatively, candle close below, will be our setup, in anticipation of down move.
62.9% of all #Bitcoin transactions are now using #Taproot.
The real Use Case of #Bitcoin coming on the Top 👀
#Bitcoin continues to drop as to expected are and even go further below it. This crash was lead by #Bittrex Bankruptcy news, and currently, price tapped below to the rejection area and reacted over it. Bullish volume is drying, so an another leg down is expected till $26,900 - $26,970.
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Here's the Analysis of #FIL :
#FIL is been broken down the major support zone and now being a major resistance area at $4.63 - $5.00. Currently, price flipped the 4H level, taking it as resistance area to print a new lower low. Next move is expected till support around $3.95, until price flip any structural resistance. You can look for shorts opportunity here
#DOGE is been given a break- below of the support level and retested it. We recommended shorts over there, if you took it then you're in nearly 11% profits. I hope you secured some with the moving market. Price almost reached the support level of $0.0657 - $0.0677.
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Price took the liquidity from the $26,000 level. The market is giving a little upward movement and this may be a dead cat bounce. Still, the structure is bearish and we expect downward movement. Use proper risk management and stop loss in all open trades.
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#ARB failed to perform the retest and did goes in our direction and break below the major support zone, which is now turned it into major resistance area. Potential all may come from here, try to stack position in LTF (Lower Time frame) with low risk.
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#BTC.D (#Bitcoin Dominance) is been given a break below of the consolidation range and moving alts, Technically altcoins should pump with that, but remember as we said, #BTC movement is also plays the important role. #Bitcoin also dumped with it and alts followed it, 47.5% and Lower support around 47% is the next area to reach on.
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Here's the analysis of #FTM :
#FTM is been retested the major resistance level of $0.398 - $0.396 and rejected. Price is kinda confuses to moves any further, but overall expectations is to dip till major support zone of $0.325 - $0.334. You can take shorting opportunity on the retest near $0.38 and higher.
#TVK/USDT BUY/LONG CALL
Lying above strong support. RSI is showing a bullish divergence. EMA'S are acting as solid support. Stochastic is giving a buying signal. Expecting a big upward move from here.
Targets: $0.0361-0.0475-0.0635-0.0820
Stop if 1D close below $0.0291
What is Eater Address ?
An #Eater Address, also known as a Null Address or #Burn Address, refers to a specific address in a #cryptocurrency network that is designed to be non-spendable and devoid of any #private key ownership. Transactions sent to an Eater Address effectively result in the #permanent loss of those funds because there is no way to access or #retrieve them.
Purpose :
Coin Burning: #Projects or individuals may intentionally send coins or tokens to an Eater Address, effectively #removing them from #circulation and reducing the total supply. This can be done to create #scarcity or to symbolize the destruction of coins.
Placeholder Address: Some blockchain #protocols use Eater Addresses as placeholders or reserved addresses for certain #functionalities within the network. These addresses act as markers or #indicators without the ability to receive or control any #funds.
Testing and Debugging: Eater Addresses can be utilized during #software development, #testing, or #debugging processes. Transactions sent to these #addresses can help identify #potential issues or verify the behavior of the network without #risking the loss of actual funds.
#SOL gave a small drop after breaking the triangle formation, near about 7.3% in our favor. Price already tapped the support near daily TF and kinda rejected strong. Move stops at Breakeven and wait for further down-move 📉
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Here's the analysis of #GALA :
#GALA is been broken below the strong area and now testing it as resistance around $0.0312 - $0.0327. Price kinda rejecting now, but we've to wait for the candle to close. A rejection will push down the price till support zone around $0.0244 - $0.0256. Take it accordingly 📉
#CPI Numbers Coming Today, High Volatility Expected 📊
All the timing are in EST
#BITCOIN WEEKLY UPDATE :
#BITCOIN is been hodling the support from daily TF and kinda rejecting now. On Daily TF, price is just consolidating between $26,880 and $28,600. Expecting the market to break above this area but a break-below chances are pretty high as of now. If this weekly candle closes bearish, then we can see the next weekly candle following too.
What is (#PBFT) Proof of Byzantine Fault Tolerance ?
Proof of Byzantine Fault Tolerance (#PBFT) is a consensus algorithm used in distributed systems to achieve #consensus among a network of nodes even in the presence of faulty or malicious nodes. It is specifically designed to handle #Byzantine faults, which refer to arbitrary and #malicious behaviors exhibited by nodes in a distributed network.
In #PBFT, a network of nodes forms a consensus group, and each node takes turns acting as a #leader. The consensus process involves a series of rounds where the leader proposes a value or a set of #transactions, and other nodes in the network vote on the proposed value. #Nodes communicate with each other to reach a consensus on the agreed-upon value.
To achieve Byzantine fault tolerance, #PBFT requires a minimum number of correctly functioning #nodes in the network. As long as a two-thirds majority of the nodes are honest and follow the #protocol, PBFT guarantees that the network can agree on a consistent value, even if some nodes are faulty or malicious.
#PBFT is often used in permissioned blockchain networks, where the participants are known and trusted, and the network operates in a more controlled environment. It provides fast finality, low #latency, and high throughput compared to other consensus #algorithms like Proof of Work (PoW) or Proof of Stake (PoS). However, PBFT requires a higher degree of network communication and is less suitable for open and #decentralized networks.
So, now you're wondering, I've never see any coin using this, Which coin uses this Consensus?
—> This is only the Hot Coin in 2016 - 2017 Bull-Run, which is #NEO Coin.
#SOL gave a close below candle and continues to push lower. Price reached out the strong flip level around around $20.00. Potential retest is in the way, for making resistance around $21.25 to continue push lower.
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#Bittrex crypto exchange files for Chapter 11 #bankruptcy.
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