❗️The Merge update has been successfully launched on the Ethereum network. The event is truly unique. Thanks to him, Ethereum switched to Proof of stake consensus, which will automatically reduce emissions and network energy consumption by more than 99%. Emissions will also fall by more than 90%.
By reducing the cost of electricity and equipment, there will be no need for daily sales of the received remuneration. Previously, it was 13.5 thousand ETH per day. All this, coupled with burning some of the coins, will help make Ethereum deflationary (or at least micro-inflationary).
Buterin also stated that in the future, the Ethereum network will be able to overtake the bandwidth of Visa and reach 100,000 transactions per second.
Today the price of ETH is around $1600. And given all the positive changes, it will be interesting to compare it in a year, two, and so on. It all looks very, very promising.
By reducing the cost of electricity and equipment, there will be no need for daily sales of the received remuneration. Previously, it was 13.5 thousand ETH per day. All this, coupled with burning some of the coins, will help make Ethereum deflationary (or at least micro-inflationary).
Buterin also stated that in the future, the Ethereum network will be able to overtake the bandwidth of Visa and reach 100,000 transactions per second.
Today the price of ETH is around $1600. And given all the positive changes, it will be interesting to compare it in a year, two, and so on. It all looks very, very promising.
Breaking: Binance Implements “Opt-In Button” For 1.2% Tax Burn On Terra Classic (LUNC)
https://bit.ly/3C7o8Km
https://bit.ly/3C7o8Km
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Meanwhile, the index of fear and greed signals a very difficult situation in all markets. Cryptocurrencies are far from an exception.
Even if you look at Forex, many currencies are falling significantly against the dollar this year, on average about 20% for the euro, pound and yen. In the stock markets, the situation is even more difficult, with some top stocks falling 5 times from their all-time highs. Against their background, bitcoin with a fall of less than 4 times from its ATH does not look so bad.
The global economic crisis is in full swing, after a large cycle of growth, a natural cycle of decline has come. A decent part of it is already behind, by the way. The potential for further decline remains, but it is getting smaller and smaller. Much depends on the actions of the Fed, we keep our finger on the pulse. By their behavior it will be clear when the global correction will come to an end. But you still need to be patient.
Even if you look at Forex, many currencies are falling significantly against the dollar this year, on average about 20% for the euro, pound and yen. In the stock markets, the situation is even more difficult, with some top stocks falling 5 times from their all-time highs. Against their background, bitcoin with a fall of less than 4 times from its ATH does not look so bad.
The global economic crisis is in full swing, after a large cycle of growth, a natural cycle of decline has come. A decent part of it is already behind, by the way. The potential for further decline remains, but it is getting smaller and smaller. Much depends on the actions of the Fed, we keep our finger on the pulse. By their behavior it will be clear when the global correction will come to an end. But you still need to be patient.
Breaking: Uniswap Labs Eyes Fundraising At $1 Billion Valuation, $UNI Price Jumps
https://bit.ly/3ClUL77
https://bit.ly/3ClUL77
New weekly crypto review from Glassnode:
While there is real chaos in the traditional markets, bitcoin is quite stable.
BTC has been in the range of 18000-20000 for 4 months already, this is the calm before a very strong storm.
The average break-even price for BTC miners is slightly below current values. A price move below this level can cause a lot of stress and capitulation.
While there is real chaos in the traditional markets, bitcoin is quite stable.
BTC has been in the range of 18000-20000 for 4 months already, this is the calm before a very strong storm.
The average break-even price for BTC miners is slightly below current values. A price move below this level can cause a lot of stress and capitulation.
Binance To Develop Virtual Asset Market In Kazakhstan Amid President’s Support
https://bit.ly/3EccnUl
https://bit.ly/3EccnUl
BTC accumulation rate hits 7-year high
Bitcoins that haven't moved for 6 months or more now account for 74% of the realized capital.
In recent lows, the numbers were as follows:
- 70% in 2019
- 77% in 2015
They buy BTC and just hold on the wallet for (minimum) 6 months. Nearly 28% hold between 12 and 18 months.
Bitcoins that haven't moved for 6 months or more now account for 74% of the realized capital.
In recent lows, the numbers were as follows:
- 70% in 2019
- 77% in 2015
They buy BTC and just hold on the wallet for (minimum) 6 months. Nearly 28% hold between 12 and 18 months.
The relatively small amount of Bitcoin short liquidation and the concurrent rise in open interest could set off a chain reaction and trigger giant liquidations (CryptoQuant).
This is relevant for exiting the current trading both down and up. Therefore, the very first strong movement can lead to a jump in prices by 20-30%.
This is relevant for exiting the current trading both down and up. Therefore, the very first strong movement can lead to a jump in prices by 20-30%.
Breaking: 21Shares Lists First Bitcoin ETP On Nasdaq, But There’s A Catch
https://bit.ly/3MrzRXH
https://bit.ly/3MrzRXH
The ~19000$ level remains one of the most important supports for bitcoin. It is here that 1.3 million wallets have already bought 680,000 BTC (IntoTheBlock).
In the event of a powerful penetration of this level down, bitcoin will have big problems, since there simply weren’t any lower volumes and, accordingly, there will be no one to support the price.
In the event of a powerful penetration of this level down, bitcoin will have big problems, since there simply weren’t any lower volumes and, accordingly, there will be no one to support the price.
Yesterday, the US published yet another inflation data worse than expected. As a result, the markets immediately went into a correction, but rather quickly bought out the fall. Interestingly, a massive set of longs was recorded on BTC futures on this news (CryptoQuant).
The overall situation in crypto is starting to look pretty good 📈
The overall situation in crypto is starting to look pretty good 📈
A descending triangle may have formed on Bitcoin with a potential downward exit (CryptoQuant). The events of 2018 are repeated, when the price, after a horizontal trade in the region of $6,000, went quite quickly to $3,200.
It is not a fact that history will repeat itself, but as always, you need to be careful and put stops.
It is not a fact that history will repeat itself, but as always, you need to be careful and put stops.