#TOTAL2 QUICK MARKET UPDATE :

#TOTAL2 didn't made a deep retest and broke the resistance trendline with a similar pattern to #BTC IH&S formed in it. Looks, like the correction is over and we can consolidate for a week here. Now, the inverse Head and Shoulder must needs to break above the $1.17T mark/ resistance to confirm. A break will start push in alts rally and potentially towards the Resistance around $1.35T.

Open Interest Rising/ Remains Same Irrespective to #BTC Price Movement.

What Is an Off-Ledger Currency?

An off ledger currency isa currency which does NOT reside on blockchain or other distributed ledgers, which includes all currencies employed by nation states. While an off-ledger currency isn’t developed specifically for a blockchain, they may be used in it thanks to their utility and wide acceptance. For instance, Ripple’s Ripplenet and the Stellar blockchain may be able to transfer and convert off-ledger currencies worldwide via their bridge currencies, XRP and XLM, respectively.

Fiat money is an example of an off-ledger currency since it is issued by the central banks outside blockchain networks. The United States dollar (USD) is a prime example of an off-ledger currency, which is used worldwide because of its worth and is typically held as a reserve currency by most financial institutions. Unlike an on-ledger currency, it is centrally controlled and issued without any limits.

As a consequence, off-ledger currencies do not have any intrinsic value. Rather, their value is derived from a government’s backing and subsequent declaration as legal tender. Central banks’ right to issuance and control fiat money gives them absolute power and influence over the economy. Unfortunately, they can still be counterfeited by malicious actors. And if their issuance is left unchecked, they can incur negative effects to economies.

Unlike an on-ledger currency, they don’t need continuous incentivized computational power (or other consensus mechanism requirements) to exist. Some off-ledger currencies are actually digital fiat equivalents, being used on blockchains like USD or EUR due to their stability and popularity. Fiat-based stablecoins (tokens pegged to the value of nation state currencies) may fall under the definition of off-ledger currencies since their value is still derived from off-ledger currencies.

Here's the Analysis of #JUP :

#JUP is been moving up with the trendline and going through a small correction phrase. Currently, price is retesting the trendline as support and potentially bounce from there. That buys could be a risky one but at the same a good one, so you can accumulate some here and rest at $1.00.

#BITCOIN DAILY TF UPDATE :

#BITCOIN goes as predicted as Structure turned bearish and moving lower it. Price nearly goes towards the support zone and bounced. Well, there're still chances of coming back and as Weekly TF did a stop Hunt of the previous high. Also, you can see Daily TF, is congesting, so a Market structure shift to the bullish side is important.

#FRONT broke the falling wedge pattern but the breakout was very weak. Price started consolidating after that and now all we have to di is wait for the breakout. Dropping back to the support will be the good point for buys and break above directly will be give buys on retest.

During high-activity events where there is an influx of demand for Ethereum blockspace, fees can escalate to over $30. Prior to Dencun, fees on roll-ups were somewhat dependant on mainchain fees, and have seen their fees increase up to a maximum of $2.50 during similar situations.

Here's the Analysis of #BAKE :

#BAKE is kinda moving in a large range and rejecting both side of the zone. Price was moving very correctively as the moment and middle of the nowhere. The good point will be wait for a rejection from the support around $0.34 - $0.35 (Blue Zone) and thereafter look for entries.

#BITCOIN WEEKLY TF UPDATE :

#BITCOIN made a deep correction now and as always said, its good to have the deep corrections with the rising market. Now, Weekly candle doesn't giving any significant sign but yeah it made its closing below the support of #ATH. But also, price already made a retest back to the lower support too around $62,000. So, You can expect the bullish continuation from next week.

#DXY UPDATE :

#DXY gone perfectly but made the overall market dump, as Dollar going Strong. Now, index broke the resistance area and expected to reach the next resistance area of 104.8 - 105.2. Its better to have hit on resistance and then expected some strong push from there to the downside, which is eventually give a growing impact in the market.

More ETH is burnt via transaction fees than the amount of new ETH issued. Since the Merge, we have observed a net reduction in the total circulating supply of -410k ETH. Now, This Indicates the lower Circulating supply of #ETH in coming years and eventually impact the price.

Here;s the Analysis of #OCEAN :

#OCEAN is rejected off from the Major Resistance Zone of $1.28 - $1.35 and kinda ranging. Price also forming the triangle pattern and moving. Well, its waiting time for us, as it need to break either side. But the break above will required a flip above the Major Resistance, So the Plan it Accordingly.

#BTC Moving as per the Pattern build-up and flipped above the resistance area. Price still not broken the neckline which will confirm the pattern. In between, price can retest the support zone back to $66,000 before moving up. Weekly TF also made a deep retest but not significant for now, so moving higher from here is high probable.

Binance Will Cease Support for Deposits and Withdrawals of USDC via the Tron Network (TRC20)
https://www.binance.com/en/support/announcement/33df0ff0e2e94259950b5c4b1f4952f7

#BAKE formed the support on Daily TF and clearly moving up. Market is also stable and moving up, so now it look good for buys till a open of Resistance Area of $0.539. Moreover, it falls back to support or lower then the final support will be at $0.35.

The overall impact of the Dencun upgrade on ETH supply remains uncertain due to interconnected changes:

- Moving Layer-2 anchoring transactions to the blob data structure reduces fee congestion by about 10%, potentially leading to less ETH burned.
- Lower fees on Layer-2s may encourage increased usage of Ethereum's mainchain and scaling solutions, possibly increasing fee pressure.
- The rate of issuance growth is expected to decrease as fewer new validators can join the staking pool.

Ethereum has undergone six major updates, not all affecting ETH supply directly. However, recent upgrades have slowed ETH supply growth, with a slight decrease post-Merge. The chart below illustrates these upgrade events and their impact on ETH circulating supply.

What Is Offline Storage?

Offline storage refers to the storage of private keys of an account and the funds contained within in an offline device, which means it does not maintain a constant and continuous connection with the internet. This is done to prevent unauthorized and/or malicious access to the device, which can result in theft or misuse of user funds. Offline storage ensures that attackers have no way of accessing the device, making it theoretically impossible to steal crucial and sensitive financial information.

This is opposed to online storage, in which data is kept on devices with an active connection to the internet. Despite encryption and other security measures, there is still a possibility of bad actors accessing the private keys of online storage by bypassing or breaking security measures since the device can be attacked without any time constraint.

In contrast, offline storage devices still come online for a brief period when a transaction has to be sent to the network. However, most go offline as soon as it’s done. Even when a cyber thief is able to access a transaction, the thief would not be able to view the private key used for it. This makes it tremendously hard, if not nearly impossible, to attack the device in this short time window.

Typical examples of offline storage devices are hardware wallets like Ledger, Trezor, KeepKey, as well as offline devices such as CDs, USBs, offline computers, etc.