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TheNewsCrypto
TheNewsCrypto
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In the rapidly evolving landscape of cryptocurrency investments, making informed decisions about where to allocate funds is crucial. With numerous promising projects emerging, three platforms stand out as potential game-changers: Solana (SOL), Polygon (MATIC), and Retik Finance (RETIK). By examining their current trajectories and projected growth, we can gain insights into what to expect from a $10,000 investment in each of these platforms by 2025. Click Here To Take Part In Retik Finance Presale Retik Finance (RETIK): Bridging Traditional Finance with DeFi Retik Finance (RETIK) stands at the intersection of traditional finance and decentralised finance (DeFi), aiming to bridge the gap between these two worlds. At its core, Retik Finance offers users seamless access to a wide array of financial services within a secure and user-friendly ecosystem. With features like the Retik Wallet, DeFi Debit Cards, and Retik Pay, the platform empowers users to manage their digital assets efficiently and tap into the burgeoning DeFi space. One of the most compelling aspects of Retik Finance is its comprehensive ecosystem, which is designed to cater to the diverse needs of users. Whether it’s managing assets, conducting transactions, or exploring innovative DeFi tools, Retik Finance provides a one-stop solution for users looking to navigate the world of decentralised finance. In terms of future projections, Retik Finance is poised for significant growth by 2025. With the platform’s anticipated expansion and increasing adoption of its native token, RETIK, investors can expect substantial returns on their investment. Even in a conservative scenario, where RETIK reaches a price of $1 by 2025, a $10,000 investment today could yield significant profits. Solana (SOL): Revolutionising Blockchain Scalability Solana (SOL) has garnered considerable attention in the cryptocurrency space for its innovative approach to blockchain scalability. As an open infrastructure for building scalable crypto apps, Solana offers a censorship-resistant, fast, and secure environment for developers and users alike. Key to Solana’s scalability is its unique consensus mechanism, which includes Proof of History (PoH) and Proof of Stake (PoS), enabling high throughput and low-cost transactions. With a maximum throughput of 50,000 transactions per second and an average transaction fee of $0.00025, Solana boasts impressive scalability metrics that position it as a frontrunner in the blockchain space. Moreover, Solana’s composability between ecosystem projects and support for popular programming languages like C, C++, and Rust further enhance its appeal to developers. Looking ahead to 2025, Solana is expected to continue its trajectory of growth and innovation. With price predictions ranging from $106.28 to $515.60 by 2025, a $10,000 investment in Solana today could yield significant returns for investors. Whether it’s leveraging Solana’s scalability for building decentralised applications or simply holding SOL tokens as an investment, the potential for growth in the Solana ecosystem is undeniable. Click Here To Take Part In Retik Finance Presale Polygon (MATIC): Enhancing Ethereum’s Scalability Polygon (MATIC), formerly known as the Matic Network, is a Layer-2 scaling solution for Ethereum, designed to address the network’s scalability limitations. By leveraging sidechains, Plasma frameworks, and other scaling technologies, Polygon aims to enhance the scalability and features of the Ethereum network, thereby enabling a wider range of decentralised applications (dApps) and use cases. At the heart of Polygon’s ecosystem is the MATIC token, which serves various functions including governance, staking, and covering gas fees. With its focus on interoperability and scalability, Polygon has positioned itself as a key player in expanding the capabilities of the Ethereum ecosystem, attracting developers and users alike. In terms of future projections, Polygon is poised for significant growth by 2025. With price predictions ranging from $0.891402 to $3.42 by 2025, a $10,000 investment in Polygon today could yield substantial profits for investors. As the demand for Ethereum-compatible scaling solutions continues to grow, Polygon is well-positioned to capture a significant share of the market, driving value for its investors in the process. Calculating Potential Returns Now, let’s crunch some numbers to see the potential returns from a $10,000 investment in each of these tokens today. Assuming equal allocation, here’s how the investment would fare based on the projected prices for 2025: Retik Finance (RETIK): In a conservative scenario where RETIK reaches $1 by 2025 with its current price at $0.12, a $10,000 investment would yield about $83,333 for early investors by 2025. Solana (SOL): With a current price of $115.67 and price predictions ranging from $206.28 to $515.60 by 2025, a $10,000 investment today could yield anywhere between $17,832 and $44,540 in returns, depending on the price trajectory of SOL. Polygon (MATIC): Similarly, with a current price of $0.8805 and price predictions ranging from $0.891402 to $3.42 by 2025, a $10,000 investment today could yield anywhere between $12,390 and $38,850 in returns, depending on the price trajectory of MATIC. Conclusion Investing $10,000 in Solana (SOL), Polygon (MATIC), and Retik Finance (RETIK) today holds immense potential for substantial returns by 2025. While precise outcomes cannot be guaranteed due to market volatility and other factors, the promising trajectories and innovative features of these platforms indicate significant growth potential. By carefully considering the unique attributes and price projections of each project, investors can make informed decisions to maximise their investment opportunities in the evolving landscape of cryptocurrency. Click Here To Take Part In Retik Finance Presale Visit the links below for more information about Retik Finance (RETIK): Website: https://retik.com Whitepaper: https://retik.com/retik-whitepaper.pdf Linktree: https://linktr.ee/retikfinance Disclaimer: TheNewsCrypto does not endorse any content on this page. The content depicted in this article does not represent any investment advice. TheNewsCrypto recommends our readers to make decisions based on their own research. TheNewsCrypto is not accountable for any damage or loss related to content, products, or services stated in this article.

9 days ago
Coinpedia
Coinpedia
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The post When Will Bitcoin Price Hit $1Million- Analyst Predicts Timline appeared first on Coinpedia Fintech News Crypto analyst No BS Crypto discussed the potential for Bitcoin to hit $1 million in the next two years. The analyst highlighted the bullish sentiment surrounding Bitcoin, with some major players in the cryptocurrency space and ETF issuers expressing positive views. The current market scenario is akin to a rollercoaster ride. Bitcoin, the flagship cryptocurrency, is hovering just below the $43,000 mark. Recent fluctuations brought it below $42,000, triggered by long liquidations totaling $17.5 million.  However, the big players, notably BlackRock, seized the opportunity to buy the dip, accumulating a substantial amount of Bitcoin. This trend, coupled with ETF issuers acquiring 23,000 Bitcoins, hints at a potential supply crunch that could drive prices upward due to increased demand. Industry leaders are making bold predictions, injecting excitement into the crypto sphere. Larry Fink, BlackRock’s CEO, hints at a massive crypto plan, underlining the significance of crypto adoption in traditional financial markets. Morgan Stanley analysts go even further, suggesting that Bitcoin could become the global standard currency, offering economic support on a worldwide scale. Meanwhile, Kathy Wood’s predictions range from $258,000 to $1.5 million for Bitcoin by 2030.  In about 95 days, Bitcoin is set to undergo its halving, a phenomenon that historically influences market dynamics. The “buy the rumor, sell the news” pattern has been observed around previous halvings, causing temporary market dips. Observers are keen to see if history will repeat itself and what impact it might have on the market. The analyst also spoke about altcoins. Hedera Hashgraph’s recent move to allocate tokens for network development showcases a commitment to growth. Chainlink is making waves with DT Pay, a project geared towards enabling small to medium businesses to harness decentralized finance (DeFi) for cross-border payments and financial operations. 

about 1 month ago
Learn_With_Fullo
Learn_With_Fullo
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BlackRock's retrieval of 11,500 BTC indicates a looming scarcity in the cryptocurrency.Last week marked the approval of the initial batch of ETFs, triggering insightful revelations from Synapse Network co-founder Paweł Łaskarzewski regarding BlackRock's significant maneuvers in the crypto sphere. In a swift move spanning just 48 hours, the renowned investment powerhouse withdrew a substantial 11,500 BTC from circulation.In a recent X post (formerly Twitter), Łaskarzewski underscored the strategic significance of BlackRock's swift accumulation, particularly noteworthy given the daily production of approximately 900 new BTC. This rapid acquisition is indicative of a tactical shift, notably employing a "buy the dip" strategy that reflects confidence in the enduring value of Bitcoin.Examining BlackRock's Bitcoin ETF (IBIT), the withdrawal of 11,500 BTC within two days equates to nearly 13 days' worth of the standard daily supply. This monumental move, according to Łaskarzewski, accentuates the "accelerated pace of institutional adoption" in the cryptocurrency space.Delving into the impact of BlackRock's iShares Bitcoin Trust (IBIT), despite managing only 25% of the volume over two days, when considering the influence of GBTC, an estimated 46,000 BTC may have been removed. This potential signal hints at an imminent supply crunch in the market.Given a sustained daily pace of 23,000 BTC, Łaskarzewski noted that the consumption of the supply is approximately 25.56 times the daily production consumed solely by US ETFs. This calculation, excluding retail investors and other global ETFs, signals an imminent and severe supply crunch.The Institutional OnslaughtShould the current trend of institutional accumulation continue, the market appears poised for an extreme supply shortage. While fluctuations in Bitcoin's price may persist, the underlying scarcity of the asset becomes increasingly apparent.Despite reservations regarding the high fees associated with GBTC, the launch of the Bitcoin ETF is regarded as a significant success.Łaskarzewski emphasized that the actions of institutional giants like BlackRock underscore the growing significance of Bitcoin in the traditional finance space.In conclusion, BlackRock's substantial withdrawal from the Bitcoin supply in a brief timeframe highlights the escalating pace of institutional adoption. The potential supply crunch underscores the growing importance of Bitcoin in the broader financial landscape. #BTC #BlackRockCrypto

about 1 month ago
Cryptopolitan
Cryptopolitan
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In the complex financial ecosystem of China, a striking phenomenon is unfolding: the country’s largest banks are tightening their grip on smaller financial institutions. This move, stemming from a deepening property debt crisis and local government debt, is reshaping China’s banking landscape. As the world’s second-largest economy grapples with these issues, the actions of these banking giants not only reflect a strategic shift but also signal a cautionary tale for the global financial community. Strategic Tightening in Response to Rising Risks China’s top state-owned and joint-stock banks have recently intensified scrutiny over smaller lenders, specifically examining asset quality and default risks. This heightened vigilance is a reaction to growing concerns about the stability of these smaller entities in the face of a property sector crisis and mounting local government debt. The big banks, including prominent names like Industrial and Commercial Bank of China and Bank of China, have reduced interbank lending limits and set shorter maturity periods for those they deem high-risk. This cautious approach is indicative of the larger banks’ efforts to safeguard themselves against potential financial contagions. The dynamics within China’s banking sector reflect a broader trend. In recent years, smaller lenders have increasingly relied on borrowing from their larger counterparts to raise funds. This strategy, while effective in the short term, exposes them to significant risks, particularly in a tightening credit environment. With the larger banks now pulling back on interbank lending, smaller institutions are facing a challenging scenario, potentially leading to a liquidity crunch. The Ripple Effect of China’s Banking Policies The consequences of these banking strategies extend beyond individual institutions. The actions of China’s largest banks could exacerbate capital woes for smaller lenders, many of which have limited fundraising options. This could, in turn, force the Chinese government to step in with supportive measures to ensure financial stability. The scenario unfolding in China’s banking sector is a microcosm of the challenges faced by economies worldwide. As smaller banks account for a substantial portion of trading volume in the interbank lending market, their struggles have implications for the entire financial system. The pressure is particularly acute for those in highly indebted areas, such as parts of Northeast China, Inner Mongolia, and Henan province. Moreover, the situation has led to an increase in the rates for negotiable certificates of deposit, a common fundraising tool for small lenders, indicating a tightening liquidity scenario. Instances of defaults on commercial paper by small and medium-sized banks have raised red flags about the health of these institutions. In sum, the actions of China’s largest banks towards their smaller peers are a strategic response to a complex mix of economic challenges. This scenario offers critical insights into risk management and financial stability, not just for China but for global markets observing these developments. As China navigates this challenging financial landscape, the decisions made by its banking giants will have far-reaching implications for the country’s economic stability and, by extension, the global economy. The world watches keenly as China’s financial giants chart their course through these turbulent waters, understanding that their actions will have significant ripple effects across the global financial system.

about 2 months ago
Remotecrypto
Remotecrypto
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Chasing Shiba Millions: How Much SHIB Would You Need for a $1 Million Moon Mission? Shiba Inu, the self-proclaimed "Dogecoin killer," has captured the hearts (and wallets) of millions of crypto enthusiasts. But with its current price hovering around $0.00001, reaching a life-changing $1 million might seem like a distant dream. So, how much Shiba Inu would you actually need to make that dream a reality? Buckle up, Shibarmy, because we're about to do some calculations! Shiba Math: Crunch the Numbers To reach $1 million at a hypothetical price of $0.001 per SHIB, you'd need: 1,000,000,000 SHIB, or 1 billion Shiba Inu tokens. That's a big number, even for the most dedicated Shib hodler. But wait, there's more! Remember, this is based on a hypothetical $0.001 price point. While reaching $0.001 is a possibility (never say never in the wild world of crypto), it's important to remember that it's far from guaranteed. The Reality Check: A Dose of Caution Investing in any cryptocurrency, especially meme coins like Shiba Inu, comes with inherent risks. The price is highly volatile, meaning it can fluctuate wildly in either direction. Reaching $0.001 could take months, years, or even never happen at all. Investing Wisely: Beyond the Hype Invest responsibly: Only invest what you can afford to lose. Treat crypto as a high-risk investment, not a guaranteed path to riches. Diversify your portfolio: Don't put all your eggs in the Shiba Inu basket. Spread your investments across different assets to minimize risk. Remember, chasing millions with any investment, especially in the volatile world of crypto, requires a healthy dose of caution and a focus on long-term strategies. While the dream of a Shiba-fueled windfall might be tempting, prioritize responsible investing and realistic expectations. Who knows, maybe along the way, you'll build a solid crypto portfolio and discover other exciting opportunities beyond just Shiba Inu. Disclaimer: This post is for informational purposes only and should not be considered financial advice. #SHIB💥

2 months ago
Coinpedia
Coinpedia
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The post BONK Price Prediction 2024-2030: Will BONK Price Price Hit $0.00010? appeared first on Coinpedia Fintech News Bonk (BONK), the first dog-themed coin on the Solana blockchain, stands out for its thematic charm and underlying strategy and vision. Launched on Christmas last year, the BONK price trend represents a pivotal shift in the memecoin sector, similar to the likes of Shiba Inu (SHIB) and Dogecoin (DOGE). Since listing on various prominent crypto exchanges in November, BONK has witnessed an extraordinary growth of over 4,500% to date, a testament to its popularity and potential. With the news that Binance is ready to list the Solana-based meme coin over its exchange comes the recent gains of over 100%.  So, what does the future hold for BONK? Are you intrigued by the exponential growth trajectory of BONK’s price trend?  Let’s delve into the anticipated BONK price predictions for the years 2023 to 2025 and beyond. What’s New Bonk (BONK)? Around 50 trillion BONK coins, nearly half of its total supply, are allocated to those actively contributing to the Solana blockchain and its community.  BONK bounces 21% after top exchange Coinbase announces the listing of BONK on Thursday, 14th December. Solana Dog Coin Bonk (BONK) Jumps 12% with the Kucoin listing.  Bonk (BONK) recorded a rally of more than 100% with the news of the Binance listing.  Bonk (BONK) Price Prediction December 2023  Rising sharply with the news of listing on new major exchanges in 2023, the bull run in BONK prices gains momentum. Crossing the psychological barrier of $0.000010 with the news of the Binance listing, the meme coin shows hardly any pullback signals.  Powered by the idea of providing more liquidity to Solana’s DeFi space, the BONK meme coin finds a more applicable use case compared to its peers like Dogecoin, Shiba Inu, and PEPE.  Source: Tradingview As per the trend-based Fibonacci retracement levels, the uptrend approaches the next psychological barrier of $0.000050. However, the Santa rally may only be able to push it to 2.618 Fib level at $0.00003648. A reversal in the BONK prices can lead to a retest of the $0.000025 breakout on a more grim outlook. Price Prediction Potential Low ($) Average Price ($) Potential High ($) December 2023 $0.000025 $0.0000375 $0.000050 BONK Price Prediction 2024 If the cryptocurrency market continues to grow in 2024, fueled by the anticipated bull run in the crypto market, BONK can successfully reach a wider audience. With the growing community, the BONK price could potentially reach as high as $0.00085. On the flip side, during the liquidity crunch or a market-wide pullback, the downside potential is vast for the BONK meme coin. The bears can retest the $0.000010 mark in case of a high-speed crash.  Price Prediction Potential Low ($) Average Price ($) Potential High ($) 2024 $0.000010 $0.0000475 $0.000085 BONK Price Prediction 2025 Considering the fear of missing out (FOMO) on BONK continues to grow along with its adoption as a DeFi token, its price could breach $0.00010. Potentially making a high of $0.00035, the meme coin can transition to something more meaningful for the DeFi sector in the coming years.  However, if BONK cannot maintain its current growth rate, its price will likely average out at $0.000060 in a highly competitive market. On the bearish side, if BONK fails to stay relevant in 2025, the price of BONK can plunge to $0.000015. Price Prediction Potential Low ($) Average Price ($) Potential High ($ 2025 $0.000015 $0.000060 $0.00035 BONK Price Prediction 2026 – 2030 Years Potential Low ($) Potential Average ($) Potential High ($) 2026 $0.000034 $0.000332 $0.00063 2027 $0.000062 $0.000451 $0.00084 2028 $0.000071 $0.0006355 $0.0012 2029 $0.000092 $0.001246 $0.0024 2030 $0.00013 $0.002565 ​ $0.0050 BONK price prediction 2026: BONK’s price for 2026 is projected to range between $0.000034 to $0.00063, with an average price of approximately $0.000332. BONK price prediction 2027: BONK’s price for 2027 is expected to fluctuate between $0.000062 to $0.00084, with an average price of around $0.000451. BONK price prediction 2028: BONK’s price for 2028 is anticipated to lie within the range of $0.000071 to $0.0012, with an average price of about $0.0006355. BONK price prediction 2029: BONK’s price for 2029 is projected to vary from $0.000092 to $0.0024, with an average price of roughly $0.001246. BONK price prediction 2030: BONK’s price for 2030 is expected to fluctuate between $0.00013 to $0.0050, with an average price of approximately $0.002565. CoinPedia’s BONK Price Prediction As per Coinpedia’s BONK Price Prediction, the optimism for meme coins comes in cycles and can have a long bear cycle with a quick but intense bull cycle. Further, the involvement of high-profile figures like Elon Musk, infamously known for bringing surges in Dogecoin, could be black swan events for BONK.  Moving ahead of speculations, the ability and the intention of the Bonk(BONK) coin to scale the DeFi space of Solana remains a top use case that is catching the eye of investors. This credibility and the robust nature of the Solana blockchain on which BONK is built combine to give a high potential coni. Hence, as per Coinpedia’s BONK Price Prediction, the BONK prices can reach the $0.0050 mark by the end of 2030. For a shorter timeframe, as per our Coinpedia’s Bonk (BONK) price prediction, the BONK price can reach the $0.000085 mark by the end of 2024. Market Analysis   2023 2024 2025 CoinCodex $ 0.00002336 $ 0.00003141 $ 0.00004932 Digital Coin Price $0.0000608 $0.0000706 $0.0000996 Coin Data Flow $0.000031 $0.000061 $0.000233 FAQs What is BONK? Bonk (BONK) is a cryptocurrency that emerged as the first dog-themed token on the Solana blockchain. The primary goal of BONK is to enhance liquidity in Solana-based decentralized exchanges (DEXs) and to create a community-centric ecosystem where the token is used across various dApps on Solana. Is BONK a good investment? With the primary goal of enhancing liquidity in Solana-based decentralized exchanges (DEXs) and creating a community-centric ecosystem where the BONK token is used across various dApps on Solana, Bonk brings a robust use case. Further, the growing community of BONK coupled with the power of exponential growth seen in meme coins makes BONK a good investment.  Potential investors should conduct thorough research, consider the inherent risks of cryptocurrency investments, and perhaps consult a financial advisor. Will BONK hit $0.00010? BONK is poised for growth in the coming years and it might cross the $0.00010 mark by 2025. How high can the BONK price go by the end of 2023? BONK’s price could claim the $0.000050 mark by the end of 2023. What will be the BONK price in 2030? According to our BONK price prediction, the BONK might hit a maximum of $0.0050, by the end of 2030.

3 months ago
Coinpedia
Coinpedia
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The post Bullish Analysts Predict XRP to $2.00 as Big Data AI Token Raises $1.7m appeared first on Coinpedia Fintech News In the dynamic world of cryptocurrency, where fortunes can turn faster than the pages of a thriller, there’s a fresh buzz that’s got everyone talking. It’s about XRP, the digital currency that’s been a bit of a sleeper hit, and BorroeFinance ($ROE), a rising star in the world of Big Data AI tokens.  With analysts predicting a bullish future for XRP and BorroeFinance raising a cool $1.7 million, it’s clear we’re witnessing something special. For anyone looking for the top crypto coin to buy, this is a tale worth following. XRP Set To Hit $2 Milestone Let’s start with XRP. Remember when it was just another token in the vast crypto universe? Well, things are changing. We’ve got analysts, and not just any analysts, but the ones who’ve been right more times than wrong, saying XRP could hit $2.00.  Now, that’s a big deal, especially considering its current price. So, what’s fueling this optimism? For one, XRP has always had the goods – fast transactions, low fees, and a strong tech backbone. But now, with the crypto market showing signs of a robust comeback, XRP is catching more eyes. It’s not just being seen as another digital currency; it’s being recognized as a potentially transformative player in digital finance. BorroeFinance Presale Surpasses $1.7 million BorroeFinance ($ROE), a token that’s making waves in its own right. This isn’t just another token on the block. It’s a Big Data AI powerhouse that’s just raised a whopping $1.7 million.  In a world increasingly driven by data, BorroeFinance is leading the charge, using AI to crunch numbers and churn out insights that could reshape how we think about finance. But what does BorroeFinance’s success mean for XRP?  Well, it’s all about the environment.  The crypto world is buzzing with innovation, and investors are on the lookout for the next big thing – be it the top NFT investment or the best crypto investment. The success of a Big Data AI token like BorroeFinance highlights a growing appetite for advanced, tech-driven financial solutions. Conclusion  In summing up, the story of XRP and BorroeFinance ($ROE) is more than just numbers and predictions. It’s about the evolution of finance, where technology like AI and blockchain is opening new doors every day.  Whether you’re a seasoned investor or a curious bystander, these developments offer a glimpse into a future where finance is smarter, faster, and more accessible. So, there you have it. XRP’s potential surge to $2.00 and BorroeFinance‘s successful fundraising are not just exciting news for the crypto community; they’re indicators of a broader shift in the world of finance.  Whether you’re looking for the top altcoin, the best crypto investment, or the top crypto coin to buy, these are names you’ll want to remember. The future of finance is unfolding right before our eyes, and it’s a journey worth joining. Learn more about BorroeFinance ($ROE) here: BorroeFinance Presale | The Telegram Group | Borroe.Finance on Twitter 

3 months ago
Coin Bureau
Coin Bureau
A New Financial CRISIS?! Why A Credit Crunch Could Be Coming!
9 months ago
CryptoNews
CryptoNews
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Analysts suggest that Bitcoin’s recent surge could be driven by an ongoing liquidity shortage and declining stablecoin market cap.  The ongoing liquidity shortage in the cryptocurrency market has been significantly impacting Bitcoin’s price, which has experienced dramatic fluctuations of over 10 percent in recent weeks. According to research from FalconX, the average volume of Bitcoin trades within a 1 percent price range from its current value has been at its lowest for the year. This comes despite a renewed surge in trading activities, partially ignited by market speculation surrounding the potential approval of a Bitcoin ETF (Exchange-Traded Fund). Bitcoin’s declining exchange reserve How Does Low Liquidity Affect Bitcoin’s Price? In financial markets, low liquidity means fewer buyers and sellers, making it more challenging to enter or exit positions without affecting the market. When liquidity is low, even a small number of trades can have a significant impact on the price. This is because there are fewer buyers and sellers, so it takes less volume to move the market, thus low liquidity environments are easier to manipulate. You might also like: Bitcoin holds above $34k, sell signal is still there A trader with a large enough position can artificially move the price up or down to their advantage. In a low liquidity environment, traders may attempt to capitalize on these price swings, thereby adding to the volatility. The “Alameda Gap” and Its impact remains Last year, blockchain analytics firm Kaiko termed the fall in liquidity as the “Alameda Gap,” tracing its origins to the financial troubles at Sam Bankman-Fried’s FTX. Market makers reportedly faced significant losses following FTX’s downfall, contributing to the lasting liquidity issues in the market. The "Alameda Gap" in crypto liquidity could be felt for a long time.Over the past week, #BTC market depth has plummeted across exchanges. pic.twitter.com/rQEIVKR9sr — Kaiko (@KaikoData) November 15, 2022 On Oct. 16, a misleading report led to a temporary 10 percent spike in Bitcoin’s price, as it falsely claimed that the U.S. had green-lighted a long-anticipated Bitcoin ETF. The excitement was short-lived, however, as BlackRock subsequently clarified that its application was still under review by the SEC. Just a week later, on Oct. 23, Bitcoin’s price again soared past the $35,000 mark—a level not seen in roughly a 18 months. This was triggered by market speculation hinting that a forthcoming BlackRock ETF ticker indicated an approval was around the corner. As of Monday, Bitcoin’s value was hovering around $34,400.  Stablecoins and liquidity health Another important indicator that analysts use to assess market liquidity is the overall market cap of stablecoins. Recent data from DeFiLlama shows a decline in the total market capitalization of stablecoins, further underscoring the ongoing liquidity issues. The prevailing liquidity crunch and its compounding effect on Bitcoin’s volatility underscore the intricate dynamics and vulnerabilities of the cryptocurrency market. With growing interest but unstable foundations, how this liquidity shortage unfolds will be crucial for both retail and institutional investors. Read more: Binance to list Celestia with unique risk mitigation measures

4 months ago
CryptoPotato
CryptoPotato
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A letter from December 2020 reveals that renowned American legal scholar Joseph Grundfest advised former SEC commissioner Jay Clayton not to sue Ripple, as it would mean a systemic, international risk that could hurt a significant number of innocent XRP holders. John E. Deaton, from Crypto Law US, published the letter on a thread on X, where he also talked about the contradictions and unethical practices made by Jay Clayton and other SEC representatives. Speaking of Grundfest, here is his pre-suit letter to Clayton pleading with Clayton NOT to sue @Ripple alleging XRP was a security while giving ETH a free pass. He warned it would destroy the lives of innocent holders with no connection to Ripple. Remember, Grundfest acted as… — John E Deaton (@JohnEDeaton1) October 28, 2023 Grundfest, who was also a former SEC commissioner himself, stated that by simply initiating the procedures, all parties and intermediaries would stop transacting with XRP, causing a liquidity crunch affecting the token’s price and ultimately leading to multi-billion dollar losses to innocent third parties. Further, the letter highlights the importance of XRP as one of the largest cryptocurrencies in the market. By December 16, 2020, XRP had approximately $23.8B in market capitalization, the third-largest coin. Such a lawsuit would “implicate a broad range of policy concerns with significant consequences for the nation’s financial and securities markets,” Grundfest stated. Moreover, Deaton referred to an interview in which Clayton stated that, even in non-fraud cases, he likes suing a company’s executives as it “changes the dynamics,” in this case, Ripple’s main executives, Brad Garlinhouse and Chris Larsen. This, according to Deaton, is an intimidation tactic that raises the burden on the government and the reason why Grundfest warns against engaging in such practices. ETHGate? Talking about SEC policies, Grundfest criticized the agency’s fairness and true intention behind the lawsuit; if XRP and ETH are similar, as the staff articulated, then why hasn’t ETH been treated the same without any enforcement of federal laws? “The staff has articulated no material distinction between the operation of Ether and of XRP that is relevant to the application of the federal securities laws. Imposing securities law obligations on XRP while leaving Ether untouched raises fundamental fairness questions about the exercise of Commission discretion.” Grundfest added that if there’s no “material distinction” between ETH and XRP, neither should freely circulate in the market or be subject to the same federal laws. This apparent preference for ETH over XRP is why Deaton calls Grundfest the “first ETH conspiracy theorist.” When FedNow came to be, Crypto Twitter deduced that the lawsuit was possibly the Fed and SEC working together to push Ripple and XRP away and instead place the payment rail (announced in 2019) as the main instrument for cross-border transactions and liquidity sourcing for institutions. The post Very Curious Revalation in the Ripple (XRP) v. SEC Case appeared first on CryptoPotato.

4 months ago
Binance Blog
Binance Blog
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Main Takeaways:The growing fascination with artificial intelligence (AI) and excitement for its potential synergy with Web3 is hard to ignore. Nevertheless, the current reality of this nascent integration reveals a disconnect between AI's infrastructure needs and the existing blockchain frameworks.In this series, we’ll be exploring the relationship between AI and Web3, the challenges, opportunities and vertical applications in Web3.This first part of the series dives into the developments of Web3 infrastructure for AI, the current challenges of computational requirements and opportunity areas.Artificial Intelligence (AI) and blockchain technology are two of the most innovative technologies that have captured the public imagination in the last decade. The developments of AI in Web2 has been unquestionable as seen with the accelerating number of investments made this year by VCs. From Inflection AI $1.3 billion funding round in June 2023 with investments from Microsoft and Nvidia, to OpenAI’s competitor, Anthropic raising $1.25 billion from Amazon in September 2023.However, the use case and the intersection of Web3 is still skeptical. Does Web3 play a role in the development of AI? If so, how and why do we need blockchain in AI? One narrative we’re seeing is that Web3 has the potential to revolutionize productive relationships, while AI has the power to transform productivity itself. However, bringing these technologies together is proving to be complex, revealing challenges and opportunities for infrastructure requirements.AI Infrastructure & The GPU CrunchThe main bottleneck we currently see in AI is the GPU crunch. Large Language Models (LLMs) such as OpenAI’s GPT-3.5 have unlocked the first killer app we see today, ChatGPT. It is the fastest application to reach 100M MAU in 6 weeks compared to YouTube and Facebook which took 4 years. This has opened the floodgates of new applications leveraging LLM models, a few examples being Midjourney built on Stable Diffusion’s StableLM, and PaLM2 powering Google’s Bard, APIs, MakerSuite and Workspaces.Deep learning is a lengthy and computationally intensive process on a massive scale - the more parameters LLMs have, the more GPU memory it is required to operate. Each parameter in the model is stored in GPU memory and the model needs to load these parameters into memory during inference. If the model size exceeds the available GPU memory, it's the point at which the model size surpasses the available GPU memory and the ML model stops working. Leading players like OpenAI are also experiencing GPU shortages, resulting in difficulties in deploying its multi-modal models with longer sequence length models (8k VS 32k). With significant supply chip shortages, large-scale applications have reached the threshold of what’s possible with LLMs, leaving AI startups competing for GPU power to gain first-mover advantage. GPU Solutions: Centralized & Decentralized ApproachesIn the near term, centralized solutions like Nvidia's August 2023 release of its tensorRT-LLM, offering optimized inference and increased performance, and the anticipation of the Nvidia H200s launch in Q2 2024 are expected to resolve GPU constraints. Furthermore, traditional mining companies like CoreWeave and Lambda Labs are pivoting towards providing GPU-focused cloud computing based on rental fees ranging $2-$2.25/hour for Nvidia H100s. Mining companies utilize ASIC (Application-Specific Integrated Circuit) as they provide significant advantages over general-purpose computers or GPUs for mining efficiency through algorithm-specific design and specialized hardware architectures for increased hash power.On the Web3 side, the idea of an Airbnb-type marketplace for GPUs has been a popular concept and there are a couple projects attempting to do this. Incentives in blockchain are ideal for bootstrapping networks and it is an effective mechanism to attract participants or entities with idle GPUs in a decentralized way. Typically getting access to GPUs involves signing long-term contracts with cloud providers and applications may not necessarily utilize the GPUs throughout the contract period. Another approach called Petals involves splitting a LLM model into several layers that are hosted on different servers similar to the concept of sharding. It was developed as part of the BigScience collaboration by engineers and researchers from Hugging Face, University of Washington, and Yandex to name a few. Any user can connect to the network in a decentralized way as a client and apply the model to their data.Opportunities for AI X Web3 Infrastructure ApplicationsWhile there are still some drawbacks, Web3 infrastructure holds the potential to tackle the challenges posed by AI integration and presents opportunities for innovative solutions, as we will explore below.Decentralized AI Computing NetworksDecentralized compute networks link individuals in need of computing resources with systems possessing unused computational capabilities. This model, where individuals and organizations can contribute their idle resources to the network without incurring additional expenses, allows the network to provide more cost-effective pricing in contrast to centralized providers. There are possibilities in decentralized GPU rendering facilitated by blockchain-based peer-to-peer networks to scale AI-powered 3D content creation in Web3 gaming. However, a significant drawback for decentralized computing networks lies in the potential slowdown during machine learning training due to the communication overhead between diverse computing devices.Decentralized AI DataTraining data serves as the initial dataset used to teach machine learning applications to recognize patterns or meet a specific criteria. On the other hand, testing or validation data is employed to assess the accuracy of the model, and a separate dataset is necessary for validation as the model is already familiar with the training data.There are ongoing efforts to create marketplaces for AI data sources and AI data labeling where blockchain serves as an incentive layer for large companies and institutions to improve efficiency. However, at its current early-stage development, these verticals face obstacles such as the need for human review and concerns surrounding blockchain-enabled data. For instance, there are SP compute networks specifically designed for ML model training. SP compute networks are tailored to specific use cases, typically adopting an architecture that consolidates compute resources into a unified pool, resembling a supercomputer. SP compute networks determine cost through a gas mechanism or a parameter controlled by the community. Decentralized PromptsWhile fully decentralizing LLMs presents challenges, projects are exploring ways to decentralize prompts by encouraging contributions of self-trained techniques. This approach incentivizes creators to generate content, providing economic incentive structures for more participants in the landscape. Early examples include AI-powered chatbot platforms that have tokenized incentives for content creators and AI model creators to train chatbots, which can subsequently become tradable NFTs, granting access to user-permissioned data for model training and fine-tuning. On the other hand, decentralized prompt marketplaces aim to incentivize prompt creators by enabling ownership of their data and prompts to be traded on the marketplace.Zero-Knowledge Machine Learning (ZKML)2023 has truly been the year in which LLMs have demonstrated their power. In order for blockchain projects to realize the full potential of AI, it is essential for these models to be run on-chain. However, the challenges of gas limits and computational costs still present complexities for AI integration. What if LLMs could be run off-chain and their output results used to drive decisions and activities on-chain, all while generating proof that these decisions are made by the ML AI model and not by random outputs? This is essentially what ZKML is. With the upcoming launch of OpenAI's GPT-5 and Meta's Llama3, LLMs are growing larger with enhanced capabilities. ZKML's primary goal is to minimize the size of proofs, which makes it a natural fit for combining ZK-proofs with AI technology. For example, ZK-proofs could be applied to compress models in decentralized ML inference or training by which users contribute to the training by submitting data to a public model on an on-chain network.We are currently in the nascent stages of what is computationally practical to verify using zero-knowledge proofs on-chain. However, advancements in algorithms are broadening the scope of what can be achieved with use cases being explored such as Model Integrity, whereby ZK-proofs could be used to prove that the same ML algorithm is being run on different users’ data the same way to avoid biases. Similarly, with the rise of algorithmically-generated portraits and deepfakes, ZK-proofs could be applied in Proof of Personhood to verify a unique person without compromising an individual's private information. In conclusion, the integration of Web3 infrastructure and AI represents an exciting frontier of technological innovation, while boosting contribution through tokenized incentives.  While Web2 has witnessed significant advancements in AI, the intersection of Web3 and AI is still a subject of exploration. As we move forward, the synergy between Web3 and AI holds great potential, promising to reshape the landscape of technology and the way we approach AI infrastructure. Stay tuned for the next part of the AI X Web3 series where we dive into AI use cases in Web3 gaming.Disclaimer: The content on this article has been prepared solely for informative purposes and should not be the basis for making investment decisions or be construed as a recommendation to engage in investment transactions or be taken to suggest an investment strategy in respect of any financial instruments or the issuers thereof.

4 months ago
Cointelegraph
Cointelegraph
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Crypto exchange Binance is refunding users 1 million Tether ($1 million) over its handling of the CyberConnect (CYBER) token incident. As narrated by the exchange on Sept. 7, a price discrepancy on listed CYBER tokens occurred the week prior due to a liquidity crunch constricting CYBER cross-chain bridges on Korean cryptocurrency exchange Upbit. This led to arbitrageurs borrowing CYBER from Binance to profit from the differential. In turn, Binance users who staked CYBER in its Flexible Earn Program were barred from redemptions as the staked assets had been borrowed, reaching the loan limit. The exchange stated: "Other than Proof-of-Stake (PoS) based products, a large part of crypto flexible financial products generate income by lending out subscribed assets to other users via Margin or collateralized loans. Under extreme conditions, borrowers may not be able to repay their loans in time, or the redemptions of subscribed assets may experience some delays. This was the case on 2023-08-31." Moving forward, Binance said it will take action to increase interest rates on staked assets to deter lending during periods of high token volatility.  For remedies, the exchange offered 800,000 Tether (USDT) to 887 impacted users who could not redeem their CYBER products during the incident, along with 871 CYBER in accrued staking rewards. Another 200,000 USDT worth of vouchers, sponsored by the CyberConnect Foundation, will be distributed to all users who staked CYBER via Binance Flexible Earn during the incident, regardless of whether they chose to redeem their tokens. The firm also wrote: "Binance reserves the right in its sole discretion to amend or cancel this announcement at any time and for any reasons without prior notice."

6 months ago
Ismeidy
Ismeidy
followers

Why the break of #Evergrande causes so much panic in #TradFi and #DeFi ? The bankruptcy of Evergrande, the most indebted real estate developer in the world, has shocked the world financial markets, with a debt of more than 300,000 million dollars, its bankruptcy impacts China The bankruptcy of #Evergrande could lead to a credit crunch The company is a major borrower, and its default makes it difficult for other companies to obtain loans This could slow economic growth and lead to job losses Here are some of the specific ways #Evergrande 's bankruptcy could affect financial markets Stock Markets: Stock markets could fall as investors worry about the impact of Evergrande's collapse on the Chinese economy Fixed Income Markets: Bond Yields Could Rise as Investors Demand Higher Yields to Offset Increased Default Risk Forex: Chinese yuan could weaken as investors lose confidence in the Chinese economy Commodity markets: Commodity prices could fall as demand from China decreases. Cryptocurrency Markets: Cryptocurrency prices could fall as investors sell their crypto for cash. It is important to note that the full impact of Evergrande's bankruptcy is still unknown. The Chinese government is likely to take steps to mitigate the damage, but the crisis is likely to have a significant impact on the global economy.

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7 months ago
Imed Angel
Imed Angel
followers

Fellow Binancians, We are aware of user feedback surrounding the redemption of CYBER Simple Earn Flexible Products, and we apologize for the situation. Binance has been taking this very seriously and working proactively to address users’ concerns, in line with its user-first mentality and the principle to hold up the highest standards of transparency with the community. Details are provided below: What Happened On 2023-08-31, there was a big price discrepancy of CYBER between Upbit and other exchanges. This can be attributed to Upbit only supporting CYBER (ERC20), and that a cross-chain bridge for CYBER (ERC20) and CYBER (BEP20) was not available at that time. This resulted in a liquidity crunch on CYBER (ERC20) on Binance and other exchanges. With the price of CYBER soaring, arbitrage users started to borrow CYBER for their trading strategies. This led to a surge of loan requests for CYBER that triggered the risk management protocol on Binance, where new loan requests were halted and loan interest rates were increased by a large extent. As Crypto Loans and Margin products on Binance grant loans based on actual subscribed assets on Simple Earn, the exceedingly large volume of redemption requests could not be fulfilled immediately despite maintaining a maximum borrowing limit as buffer for redemptions. Other than Proof-of-Stake (PoS) based products, a large part of crypto flexible financial products generate income by lending out subscribed assets to other users via Margin or collateralized loans. Under extreme conditions, borrowers may not be able to repay their loans in time, or the redemptions of subscribed assets may experience some delays. This was the case on 2023-08-31, which arose due to the simultaneous surge in demand to borrow CYBER and redemption requests. CYBER Simple Earn Flexible Products redemptions could not be executed immediately as it would under normal circumstances. Moving Forward Binance will adjust the loan interest rates dynamically and strengthen its risk management measures. Specifically, Binance will take the following actions to foster a better user experience: Substantially increase Crypto Loans and Margin interest rates, and Simple Earn APR for applicable asset(s) during periods of high volatility; Stricter risk management and review framework on tokens with comparatively smaller market caps. Tokens with lower liquidity may be delisted from Simple Earn, Crypto Loans and Margin, where applicable. Applicable risk warnings to be displayed for the above mentioned tokens, and regular reviews of borrowing limits to be conducted. A second confirmation highlighting applicable risks will be required before completing a subscription. More details will be displayed for users’ reference, including redemption availability, token utilization levels, etc. Impacted Users to Share 800,000 USDT Whilst the Remaining Users to Share 200,000 USDT 887 impacted users who failed to redeem their CYBER Simple Earn Flexible Products positions between 2023-08-29 at 00:00 (UTC) and 2023-09-05 00:00 (UTC) will receive a share of USDT tokens from a total pool of 800,000 USDT and an additional 871 CYBER. The 871 CYBER is the total profits obtained by Simple Earn since CYBER products launched on the platform. The distribution will be based on these users’ daily average CYBER Simple Earn Flexible Products position in proportion to the total size of positions held by all eligible users. These will be distributed within seven working days of publishing this announcement. Users may confirm the receipt of the tokens via Wallet > Transaction History > Distribution. All other users who held CYBER Simple Earn Flexible Products positions at any point during the above mentioned period will also receive an equal share from a total pool of 200,000 USDT worth of CYBER Locked Trial Fund vouchers, which are sponsored by CyberConnect Foundation. These will be distributed within two weeks of publishing this announcement. Users may confirm the receipt of the vouchers via Profile > Rewards Hub. The crypto industry is still at its infancy stage with much room for improvement. Your feedback and suggestions are highly valued as we continue to build the industry together. We look forward to building a much better platform for all of our users. Thank you for your continuous support! Note: Where any discrepancy arises between the translated versions and the original English version, the English version shall prevail. Thanks for your support!

6 months ago
Binance Announcement
Binance Announcement
followers

Fellow Binancians, We are aware of user feedback surrounding the redemption of CYBER Simple Earn Flexible Products, and we apologize for the situation. Binance has been taking this very seriously and working proactively to address users’ concerns, in line with its user-first mentality and the principle to hold up the highest standards of transparency with the community. Details are provided below: What Happened On 2023-08-31, there was a big price discrepancy of CYBER between Upbit and other exchanges. This can be attributed to Upbit only supporting CYBER (ERC20), and that a cross-chain bridge for CYBER (ERC20) and CYBER (BEP20) was not available at that time. This resulted in a liquidity crunch on CYBER (ERC20) on Binance and other exchanges. With the price of CYBER soaring, arbitrage users started to borrow CYBER for their trading strategies. This led to a surge of loan requests for CYBER that triggered the risk management protocol on Binance, where new loan requests were halted and loan interest rates were increased by a large extent. As Crypto Loans and Margin products on Binance grant loans based on actual subscribed assets on Simple Earn, the exceedingly large volume of redemption requests could not be fulfilled immediately despite maintaining a maximum borrowing limit as buffer for redemptions. Other than Proof-of-Stake (PoS) based products, a large part of crypto flexible financial products generate income by lending out subscribed assets to other users via Margin or collateralized loans. Under extreme conditions, borrowers may not be able to repay their loans in time, or the redemptions of subscribed assets may experience some delays. This was the case on 2023-08-31, which arose due to the simultaneous surge in demand to borrow CYBER and redemption requests. CYBER Simple Earn Flexible Products redemptions could not be executed immediately as it would under normal circumstances. Moving Forward Binance will adjust the loan interest rates dynamically and strengthen its risk management measures. Specifically, Binance will take the following actions to foster a better user experience: Substantially increase Crypto Loans and Margin interest rates, and Simple Earn APR for applicable asset(s) during periods of high volatility;Stricter risk management and review framework on tokens with comparatively smaller market caps. Tokens with lower liquidity may be delisted from Simple Earn, Crypto Loans and Margin, where applicable. Applicable risk warnings to be displayed for the above mentioned tokens, and regular reviews of borrowing limits to be conducted. A second confirmation highlighting applicable risks will be required before completing a subscription. More details will be displayed for users’ reference, including redemption availability, token utilization levels, etc. Impacted Users to Share 800,000 USDT Whilst the Remaining Users to Share 200,000 USDT 887 impacted users who failed to redeem their CYBER Simple Earn Flexible Products positions between 2023-08-29 at 00:00 (UTC) and 2023-09-05 00:00 (UTC) will receive a share of USDT tokens from a total pool of 800,000 USDT and an additional 871 CYBER. The 871 CYBER is the total profits obtained by Simple Earn since CYBER products launched on the platform. The distribution will be based on these users’ daily average CYBER Simple Earn Flexible Products position in proportion to the total size of positions held by all eligible users. These will be distributed within seven working days of publishing this announcement. Users may confirm the receipt of the tokens via Wallet > Transaction History > Distribution.All other users who held CYBER Simple Earn Flexible Products positions at any point during the above mentioned period will also receive an equal share from a total pool of 200,000 USDT worth of CYBER Locked Trial Fund vouchers, which are sponsored by CyberConnect Foundation. These will be distributed within two weeks of publishing this announcement. Users may confirm the receipt of the vouchers via Profile > Rewards Hub. The crypto industry is still at its infancy stage with much room for improvement. Your feedback and suggestions are highly valued as we continue to build the industry together. We look forward to building a much better platform for all of our users. Thank you for your continuous support! Note: Where any discrepancy arises between the translated versions and the original English version, the English version shall prevail. Thanks for your support! Binance Team 2023-09-07

6 months ago
Cointelegraph
Cointelegraph
followers

Bitcoin (BTC) launches its first full week of September with BTC price action at a crossroads — can $26,000 return? After a quiet weekend, the dust has appeared to settle on last week’s volatility as crypto markets return to “business as usual.” Bitcoin finds itself lingering in familiar territory, but without a trend, traders and analysts remain undecided as to its next moves. There is certainly no shortage of downside BTC price predictions — $25,000, $24,750 and even $23,000 have all become popular targets in recent weeks. Bulls, on the other hand, are thought to have a more difficult task on their hands in winning back market momentum. WIth network fundamentals due to consolidate recent gains of their own and macro markets quiet, the question as to whether September 2023 will be a classic month of single-digit losses for BTC/USD is now a talking point. Cointelegraph takes a look at the main factors influencing BTC price action over the coming days. Weekend Bitcoin price chops up BTC shorts Bitcoin offered few surprises in out-of-hours weekend trading — a status quo that could continue with United States equities markets only opening on Sep. 5. BTC/USD 1-hour chart. Source: TradingView For most of the past two days, BTC/USD acted in a tight $200 corridor, data from Cointelegraph Markets Pro and TradingView shows — but modest spikes up and down belied the presence of speculative exchange players. These were noticed by popular trader Skew, who uploaded order book data showing failed shorts being behind Bitcoin’s brief trips past $26,000. $BTC Positions are still getting blown out in $200 price moves on a sunday lol this small pop was shorts getting blown out or closing at market pic.twitter.com/7ih2KpjEEq — Skew Δ (@52kskew) September 3, 2023 “All it took was someone figuring out where stops were and market buying a few mil in spot then dumping it after forcing out some shorts,” part of additional X (formerly Twitter) commentary added. Further BTC spot market analysis queried whether the weekly close, which came in at around $25,970, would end up as a plan to give bulls a false sense of security. $BTC Operation save the 1W or is it operation trap the bulls into tuesday? pic.twitter.com/pP4JbeHzXC — Skew Δ (@52kskew) September 3, 2023 As Cointelegraph reported, $25,900 was already on the radar for Skew as the level to hold into the weekly candle close. For fellow trader and analyst Rekt Capital, however, anything much below $26,000 was cause for concern on longer timeframes. Failure to reclaim that level, he warned over the weekend, meant risking a double top structure for 2023, with the area around $31,000 the BTC price ceiling and protracted downside to come. “A BTC Weekly Candle Close below ~$26,000 (green) would likely confirm the Double Top to kickstart the breakdown process,” he commented on a chart showing the setup. BTC/USD annotated chart. Source: Rekt Capital/X Fed speakers headline macro week A cool macro week is meanwhile a potential source of light relief for risk asset traders. The coming four-day week for the U.S. holds little in terms of significant macroeconomic data, with the Federal Reserve itself instead in focus. Ahead of the month’s crunch interest rates decision on Sep. 19, various senior Fed officials will offer commentary on the state of the economy this week. These include Atlanta Fed President Raphael Bostic and New York Fed President John Williams. “Short week, but it's all about the Fed,” financial commentary resource The Kobeissi Letter summarized on X alongside the main diary dates for the coming days. It added that Fed policy was “still far from clear” in the run-up to the rates decision. Bitcoin has become notably less sensitive to Fed comments over the summer, with even those of Fed Chair Jerome Powell not managing to impact BTC price action significantly. The words used by officials can nonetheless upend market expectations for what will happen with the Fed’s inflation battle. At the time of writing, per data from CME Group’s FedWatch Tool, markets overwhelmingly expected — with 93% certainty — rates to remain the same in September. Fed target rate probabilities chart. Source: CME Group Difficulty due comedown from all-time highs After surging ahead to new all-time highs two weeks ago, Bitcoin mining difficulty is coming down to earth. In a modest consolidation, difficulty is expected to drop by around 2.4% at its upcoming automated readjustment on Sep. 5. This is nothing unusual by historical standards, especially in light of the 6.5% increase seen in mid-August — a boost which came despite BTC price action going the other way. Bitcoin network fundamentals overview (screenshot). Source: BTC.com Analyzing the potential cause, James Straten, research and data analyst at crypto insights firm CryptoSlate, flagged an accompanying decrease in Bitcoin miners’ BTC stockpile. “This has coincided with miner balance decreasing by about 4k BTC, primarily coming from F2Pool that has seen its BTC balance cut in half,” part of weekend X commentary read. Straten added that any further decrease in BTC price performance could result in additional miner stress, compounding the trend at F2Pool. “If bitcoin was to experience another drop down we could likely see another miner capitulation,” he warned. Reacting, IT Tech, a contributor to on-chain analytics platform CryptoQuant, referenced a correlation between “minor” BTC price dips and miners sending BTC to exchanges. “This action, of course, increased the selling pressure, eventually leading them to sell on the market,” an excerpt from recent comments stated. IT Tech described the BTC sales as modest in size but occurring “in the worst moments.” Dormant BTC supply sets new records Behind the scenes, Bitcoin’s supply is steadily becoming more and more the property of long-term holders. The latest data from on-chain analytics firm Glassnode reveals several new records pertaining to BTC locked up in long-term storage. The percentage of the currently mined supply which has now been dormant for three years or more is now 40.538% — its highest ever. The equivalent measure for coins stationary in wallets for at least five years now stands at 29.637% — similarly a new record. BTC supply last active five years ago or longer chart. Source: Glassnode/X Supply constriction is a welcome sight for Bitcoin bulls, who conclude that any future demand for BTC will see buyers compete for a smaller amount of the supply. In recent analysis, Straten also noted that Bitcoin speculators, commonly called short-term holders, had already distributed BTC to the market. “Once again, bitcoin short term holders have capitulated roughly 20k BTC sent to exchanges at a loss,” he wrote at the weekend. “Fourth highest amount this year. This will continue to add to the record divergence between long term holder and short term holder supply.” Bitcoin transfer volume from short-term holders at a loss annotated chart. Source: James Straten/X Accompanying Glassnode data showed the volume of BTC sent by short-term holders to exchanges at a loss. Interest turns back the clock to 2020 Bitcoin is hardly a mainstream conversation topic for the average non-crypto consumer this year, and Google Trends data proves it. Normalized search interest is now back at levels seen before BTC/USD broke beyond its old 2017 all-time high of $20,000 in late 2020. Search activity is heavily linked to BTC price action, and the lack of notable upside events throughout Q2 appears to have contributed to flat mainstream attention. Google search data for "Bitcoin" (screenshot). Source: Google Trends Within crypto, meanwhile, the average investor is feeling afraid. According to sentiment gauge, the Crypto Fear & Greed Index, “fear” is what currently characterizes the overall market mood. At 40/100, the Index is in territory familiar since mid-August, when Bitcoin dropped 10%. Crypto Fear & Greed Index (screenshot). Source: Alternative.me This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

6 months ago

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