Another wonderful predictions on #bitcoin, did gave a break below of the zone and expected to reach the strong support zone of $27,830 - $27,880. Daily TF, still kinda fuzzy and noisy, so play LTF only.

The demand for #blockspace in #Bitcoin is currently soaring due to the utilization of BRC-20 tokens, text-based inscriptions, and ordinals. This surge in demand is proving to be highly lucrative for #Miners, as the average fee per block has reached 2.905 #BTC, approaching levels seen during previous bullish periods.

SOL is trying to break below of the triangle pattern and candle closing is still is pending. Wait for the candle to close, which will gave further opportunity for sells.

Proof of Burn vs Coins Burn ?

So, what's the difference between the Proof of Burn and Coin Burn? Let's find it out.

Proof of Burn (#PoB) and Coin Burn are two distinct concepts related to #cryptocurrencies and blockchain.

Proof of Burn (PoB) is a consensus #mechanism where participants demonstrate their commitment to the network by burning (#destroying) a certain amount of their own coins or #tokens. By burning these coins, participants show that they have incurred a #cost, thus proving their dedication to the network. In return, they may receive mining #rewards or other benefits in the form of newly #minted coins or tokens.

Coin Burn, on the other hand, refers to the deliberate and #permanent removal of coins or tokens from #circulation. This can be done by sending them to a specific address or a #non-spendable wallet, making them unobtainable and effectively reducing the total supply of the cryptocurrency. Coin burn is often performed by project teams or token issuers to manage #supply and create #scarcity, potentially #increasing the value of the remaining coins.

While both Proof of Burn and Coin Burn involve the destruction of coins, they serve different purposes. Proof of Burn is a consensus mechanism that uses burning as a way to validate participation and secure the network, while #Coin Burn is a strategy to manage supply and potentially influence the value of the #cryptocurrency.

Here's the analysis of #LTC :

#LTC moving lower after the strong rejection and below of the strong resistance around $85.20 - $87.00 and price is expected to reach the next strong support zone of $75.50 - $77.30. This is impacted by over-all market conditions and price potential take a bounce from here. Not a good setup, so you ca wait for confirmation.

#Bittrex crypto exchange files for Chapter 11 #bankruptcy.

#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.

#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.

62.9% of all #Bitcoin transactions are now using #Taproot.

The real Use Case of #Bitcoin coming on the Top 👀

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.

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.

#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.

#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.

#CPI Numbers Coming Today, High Volatility Expected 📊

All the timing are in EST

$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.

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 📉

#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.

#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 📉