Crypto speak: On-chain and off-chain
You may have already encountered these words, so let’s figure out what they mean!
Anything on-chain is something that takes place directly on the blockchain. When a transaction occurs directly on the blockchain network, it’s called an on-chain transaction.
A prime example of an on-chain transaction is if you were to send your friend 1 USDT from your non-custodial Trust Wallet because it happens directly on the blockchain and is permanently recorded.
On the other hand, off-chain refers to transactions that take place away from the blockchain.
Let’s say you send 100 USDT from your Binance cryptocurrency exchange balance to your friend’s Binance account; this would be considered an off-chain transaction. Even though you sent your friend the cryptocurrency, all that happens is a change in the numbers on your balance, but the cryptocurrency never leaves Binance’s wallets.
But if you request a withdrawal from Binance to your Trust Wallet, that’s an on-chain transaction because Binance will send the money from its blockchain wallet to yours.
You may have already encountered these words, so let’s figure out what they mean!
Anything on-chain is something that takes place directly on the blockchain. When a transaction occurs directly on the blockchain network, it’s called an on-chain transaction.
A prime example of an on-chain transaction is if you were to send your friend 1 USDT from your non-custodial Trust Wallet because it happens directly on the blockchain and is permanently recorded.
On the other hand, off-chain refers to transactions that take place away from the blockchain.
Let’s say you send 100 USDT from your Binance cryptocurrency exchange balance to your friend’s Binance account; this would be considered an off-chain transaction. Even though you sent your friend the cryptocurrency, all that happens is a change in the numbers on your balance, but the cryptocurrency never leaves Binance’s wallets.
But if you request a withdrawal from Binance to your Trust Wallet, that’s an on-chain transaction because Binance will send the money from its blockchain wallet to yours.
💰 Coinbase CEO announces that Coinbase will integrate the #Bitcoin Lightning Network into their services ⚡️
“Bitcoin is the most important asset in crypto and we're excited to do our part to enable faster/cheaper Bitcoin transactions.”
“Bitcoin is the most important asset in crypto and we're excited to do our part to enable faster/cheaper Bitcoin transactions.”
Back in 2011, participants of a Starcraft tournament were paid BTC for winning.
Participants who took 5th-8th place received a consolation prize of 25 BTC.
That's currently over $650,000. I lost, but I won.
crypto_Labs📊💰
Participants who took 5th-8th place received a consolation prize of 25 BTC.
That's currently over $650,000. I lost, but I won.
crypto_Labs📊💰
👀Elon Musk mentioned that Tesla would recommence Bitcoin payments once mining becomes approximately 50% sustainable.
Bloomberg has now released a report verifying that the current sustainable usage surpasses 50%.
👉🏻 Elon, when will Tesla resume accepting $BTC payments?
CRƳPTO LABS™
Bloomberg has now released a report verifying that the current sustainable usage surpasses 50%.
👉🏻 Elon, when will Tesla resume accepting $BTC payments?
CRƳPTO LABS™
👍1🔥1👏1
Microsoft will create a cryptocurrency wallet for Xbox (or not🙂).
Microsoft recently had a major data leak, and among the documents was information about the corporation’s plans to create cryptocurrency wallets for Xbox.
Phil Spencer, the head of Xbox, immediately gave a comment in the style of “a lot of our plans have changed” but, at the same time, did not say more specifically whether gamers should expect a cryptocurrency wallet or not.
In general, Miscrosoft does not confirm or deny the plans, but we’re hoping that if there is indeed a crypto wallet in the future, it will bring us closer to mass adoption of crypto😎
Microsoft recently had a major data leak, and among the documents was information about the corporation’s plans to create cryptocurrency wallets for Xbox.
Phil Spencer, the head of Xbox, immediately gave a comment in the style of “a lot of our plans have changed” but, at the same time, did not say more specifically whether gamers should expect a cryptocurrency wallet or not.
In general, Miscrosoft does not confirm or deny the plans, but we’re hoping that if there is indeed a crypto wallet in the future, it will bring us closer to mass adoption of crypto😎
Microsoft will create a cryptocurrency wallet for Xbox (or not🙂).
Microsoft recently had a major data leak, and among the documents was information about the corporation’s plans to create cryptocurrency wallets for Xbox.
Phil Spencer, the head of Xbox, immediately gave a comment in the style of “a lot of our plans have changed” but, at the same time, did not say more specifically whether gamers should expect a cryptocurrency wallet or not.
In general, Miscrosoft does not confirm or deny the plans, but we’re hoping that if there is indeed a crypto wallet in the future, it will bring us closer to mass adoption of crypto😎
Microsoft recently had a major data leak, and among the documents was information about the corporation’s plans to create cryptocurrency wallets for Xbox.
Phil Spencer, the head of Xbox, immediately gave a comment in the style of “a lot of our plans have changed” but, at the same time, did not say more specifically whether gamers should expect a cryptocurrency wallet or not.
In general, Miscrosoft does not confirm or deny the plans, but we’re hoping that if there is indeed a crypto wallet in the future, it will bring us closer to mass adoption of crypto😎
What is a brain wallet?
A “brain wallet” is a method of cold storing crypto... in your head. Yes, there is such a thing, too 🙂
In order to create a brain wallet, you must come up with and memorize a lengthy phrase (at least 8 words), which is then hashed, from which you can derive the public and private wallet keys.
By using “brain storage,” you can keep this sentence entirely in your head and avoid having to write it down anywhere.
It’s a fun yet unsafe way to work with crypto:
▪️ First, to put it mildly, if something happens to the user’s brain, access to the wallet is lost forever.
▪️ Second, the phrase can be forgotten.
▪️ Thirdly, such phrases are much easier to hack than our usual seed phrases of 12 or 24 random words.
But there are also advantages:
You definitely don’t have to fear that someone will find your seed phrase written on a piece of paper and steal your crypto 😅
However, we must repeat: This is an unsecure method of storing crypto, and we don’t recommend it.
A “brain wallet” is a method of cold storing crypto... in your head. Yes, there is such a thing, too 🙂
In order to create a brain wallet, you must come up with and memorize a lengthy phrase (at least 8 words), which is then hashed, from which you can derive the public and private wallet keys.
By using “brain storage,” you can keep this sentence entirely in your head and avoid having to write it down anywhere.
It’s a fun yet unsafe way to work with crypto:
▪️ First, to put it mildly, if something happens to the user’s brain, access to the wallet is lost forever.
▪️ Second, the phrase can be forgotten.
▪️ Thirdly, such phrases are much easier to hack than our usual seed phrases of 12 or 24 random words.
But there are also advantages:
You definitely don’t have to fear that someone will find your seed phrase written on a piece of paper and steal your crypto 😅
However, we must repeat: This is an unsecure method of storing crypto, and we don’t recommend it.
💥Own a crypto wallet and participate in DeFi smart mining💥
❤️❤️Minimum daily profit 3%-13%❤️❤️
🔴We sincerely invite you to join our DeFi smart mining team🟢
💵DeFi smart mining is similar to bank savings deposits. You can participate in DeFi smart mining without investing any money💵
💸Professional tutors provide online one-on-one guidance and earn a minimum of (100USDT-500USDT) every day💸
A mobile phone and an encrypted wallet are all you need to start earning money from mining.How to mine for free please contact: https://t.me/DeFi111
🏆We are committed to providing every enthusiastic investor with accurate investment strategies and market analysis, with an average daily income of 100-500 USDT🏆
Join the DeFi Smart Mining Telegram channel to view more information about mining activities: https://t.me/DeFimobilemining
💰Invite friends to join and you can get 10% of the friends’ income and 10% of the income of the friends introduced by your friends💰
❤️❤️Minimum daily profit 3%-13%❤️❤️
🔴We sincerely invite you to join our DeFi smart mining team🟢
💵DeFi smart mining is similar to bank savings deposits. You can participate in DeFi smart mining without investing any money💵
💸Professional tutors provide online one-on-one guidance and earn a minimum of (100USDT-500USDT) every day💸
A mobile phone and an encrypted wallet are all you need to start earning money from mining.How to mine for free please contact: https://t.me/DeFi111
🏆We are committed to providing every enthusiastic investor with accurate investment strategies and market analysis, with an average daily income of 100-500 USDT🏆
Join the DeFi Smart Mining Telegram channel to view more information about mining activities: https://t.me/DeFimobilemining
💰Invite friends to join and you can get 10% of the friends’ income and 10% of the income of the friends introduced by your friends💰
What is a bear hug?
When a company makes an offer to buy a company at a very generous price—clearly above its market valuation—this is a “bear hug.”
Let’s look at an example:
Company A is going through a bad time, and its stock price is falling (a bear hug usually happens during such periods). Company B comes along and publicly, without prior negotiations, makes an extremely generous offer to acquire the company.
What happens next:
Shareholders, who are interested in profits, start pressuring the company’s management to accept the offer (if the company is sold at a high price, its stock will rise).
What’s more, management is legally bound to strive to extract the maximum profit for shareholders, and if they refuse, shareholders can easily take the company to court.
One last step:
If a bear hug works, the acquiring company will replace the management team of the “victim” of the hug.
Does this happen in crypto?
Of course it does!!! One prime example is when Elon Musk bought Twitter (after all, Twitter is an important part of our industry, just like Musk himself).
Musk started buying up Twitter shares in early 2022 and was aiming to become the largest shareholder.
He went on to sign a deal to buy Twitter for $44 billion while promising to improve Twitter’s policies on content moderation, promotion, and transparency.
In October 2022, Musk finalized the deal and became the owner of the company. This move was followed by the firing of top managers and then many other employees.
Typical bear hugs 🐻
When a company makes an offer to buy a company at a very generous price—clearly above its market valuation—this is a “bear hug.”
Let’s look at an example:
Company A is going through a bad time, and its stock price is falling (a bear hug usually happens during such periods). Company B comes along and publicly, without prior negotiations, makes an extremely generous offer to acquire the company.
What happens next:
Shareholders, who are interested in profits, start pressuring the company’s management to accept the offer (if the company is sold at a high price, its stock will rise).
What’s more, management is legally bound to strive to extract the maximum profit for shareholders, and if they refuse, shareholders can easily take the company to court.
One last step:
If a bear hug works, the acquiring company will replace the management team of the “victim” of the hug.
Does this happen in crypto?
Of course it does!!! One prime example is when Elon Musk bought Twitter (after all, Twitter is an important part of our industry, just like Musk himself).
Musk started buying up Twitter shares in early 2022 and was aiming to become the largest shareholder.
He went on to sign a deal to buy Twitter for $44 billion while promising to improve Twitter’s policies on content moderation, promotion, and transparency.
In October 2022, Musk finalized the deal and became the owner of the company. This move was followed by the firing of top managers and then many other employees.
Typical bear hugs 🐻
Binance currently has more than 380 assets trading on the exchange, but many of them are illiquid.
The lion's share of trade volume remains concentrated within the top 10 altcoins — link
The lion's share of trade volume remains concentrated within the top 10 altcoins — link
🤨 A decrease in $BTC dominance - what does it mean?
Bitcoin dominance is one of the key metrics I closely monitor. When this indicator is rising, it signifies money flowing from altcoins into $BTC, and vice versa. It's a highly reliable market oscillator.
After reaching a two-year high around 52.1%, $BTC dominance has started to correct and is currently in a downtrend. During this correction towards the 48.5 - 50% range, altcoins are likely to experience powerful pumps, as was the case at the end of last year.
I'm confident that in the next 2-3 months, altcoins will deliver significant growth and substantial profits. That's why I plan to acquire more coins using my $BTC.
🍴 I'm preparing more trade opportunities, and I'll share them with you shortly. Stay tuned!
Bitcoin dominance is one of the key metrics I closely monitor. When this indicator is rising, it signifies money flowing from altcoins into $BTC, and vice versa. It's a highly reliable market oscillator.
After reaching a two-year high around 52.1%, $BTC dominance has started to correct and is currently in a downtrend. During this correction towards the 48.5 - 50% range, altcoins are likely to experience powerful pumps, as was the case at the end of last year.
I'm confident that in the next 2-3 months, altcoins will deliver significant growth and substantial profits. That's why I plan to acquire more coins using my $BTC.
🍴 I'm preparing more trade opportunities, and I'll share them with you shortly. Stay tuned!
💁6 months before the Bitcoin halving – are you ready for the bull market?
Look at the screenshot from 2019. Anyone could have bought BNB or MATIC and turned $100 into $10,000. No one knew what is BNB or MATIC back then.Now is 2023. Do you know what LayerZero or Venom is?
Follow AltLex to not miss the bull run profits – https://t.me/+L-DumrqRKgE4N2Fl
Look at the screenshot from 2019. Anyone could have bought BNB or MATIC and turned $100 into $10,000. No one knew what is BNB or MATIC back then.Now is 2023. Do you know what LayerZero or Venom is?
Follow AltLex to not miss the bull run profits – https://t.me/+L-DumrqRKgE4N2Fl
TOP GAINER ANALYSIS: $CREAM
The price surged vigorously from the horizontal support and broke through the descending trendline. Notably, all the Exponential Moving Averages (EMAs) are now serving as support.
This bullish momentum is anticipated to persist, as it continues to gather strength and displays a robust outlook.
The price surged vigorously from the horizontal support and broke through the descending trendline. Notably, all the Exponential Moving Averages (EMAs) are now serving as support.
This bullish momentum is anticipated to persist, as it continues to gather strength and displays a robust outlook.
The stark contrast between #Bitcoin and #Ethereum whales.
ETH Whales: 1k ETH or greater, all in a massive downtrend. In the space of a year, we've seen 12M ETH offloaded, since 2020, its 20M ETH.
#BTC Whales: 1K BTC or greater, all in an aggregate uptrend to flat. Offloaded some profits from 2021 or scared of FTX collapse. But resumed accumulation this year.
Significant sell pressure is coming and persistent for #Ethereum
ETH Whales: 1k ETH or greater, all in a massive downtrend. In the space of a year, we've seen 12M ETH offloaded, since 2020, its 20M ETH.
#BTC Whales: 1K BTC or greater, all in an aggregate uptrend to flat. Offloaded some profits from 2021 or scared of FTX collapse. But resumed accumulation this year.
Significant sell pressure is coming and persistent for #Ethereum
💻 Analyzing the $BTC situation
Over the weekend, market volumes were extremely low, allowing sellers to attempt a retest of the nearest support level at $27,300. However, this attempt was unsuccessful, and Bitcoin continued to trade within the interest range over the weekend.
The support at $27,300 has proven to be quite robust. Additionally, on the 1D chart, we can observe an ascending triangle, with its lower boundary also preventing any downward price movement
In the current conditions, the bullish scenario remains the most likely. As before, in the next week or two, I expect $BTC to establish itself above $28,000, followed by a move toward $30,000.
📈 Breaking through this level will confirm the long-term uptrend.
Over the weekend, market volumes were extremely low, allowing sellers to attempt a retest of the nearest support level at $27,300. However, this attempt was unsuccessful, and Bitcoin continued to trade within the interest range over the weekend.
The support at $27,300 has proven to be quite robust. Additionally, on the 1D chart, we can observe an ascending triangle, with its lower boundary also preventing any downward price movement
In the current conditions, the bullish scenario remains the most likely. As before, in the next week or two, I expect $BTC to establish itself above $28,000, followed by a move toward $30,000.
📈 Breaking through this level will confirm the long-term uptrend.