๐BTC is declining due to weak on-chain activity.
According to Santiment, the average number of active addresses in the network has dropped to 948,000. This triggered a correction in the BTC price to $65,243.
โ๏ธ Experts believe that retail traders have temporarily lost interest in BTC. That's why we're seeing a weakening in network activity.
๐ Moreover, they anticipate a drop in the digital currency to $50,000 or even below this mark. Such a scenario is possible if on-chain activity continues to weaken in the coming days.
According to Santiment, the average number of active addresses in the network has dropped to 948,000. This triggered a correction in the BTC price to $65,243.
โ๏ธ Experts believe that retail traders have temporarily lost interest in BTC. That's why we're seeing a weakening in network activity.
๐ Moreover, they anticipate a drop in the digital currency to $50,000 or even below this mark. Such a scenario is possible if on-chain activity continues to weaken in the coming days.
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๐ค What's happening with the price of BTC?
Earlier this week the price of Bitcoin briefly dropped below the $66,000 mark. One of the possible reasons for the decline was a significant net outflow from spot ETFs, amounting to $85 million.
๐The speed of the correction was driven by major liquidations, resulting in funding rates dropping almost to zero.
BTC traders collectively lost around $138 million. Market participants who opened positions on Ethereum (ETH) also suffered significant losses โ the sharp drop in the second-largest cryptocurrency's price cost them $92.6 million.
Over 90% of the liquidations were spread across OKX, Bybit, Binance, and Huobi. The largest order was executed by OKX โ the exchange closed an ETHUSD position worth $7.48 million. The total amount of liquidations in the last 24 hours exceeded $500 million.
Earlier this week the price of Bitcoin briefly dropped below the $66,000 mark. One of the possible reasons for the decline was a significant net outflow from spot ETFs, amounting to $85 million.
๐The speed of the correction was driven by major liquidations, resulting in funding rates dropping almost to zero.
BTC traders collectively lost around $138 million. Market participants who opened positions on Ethereum (ETH) also suffered significant losses โ the sharp drop in the second-largest cryptocurrency's price cost them $92.6 million.
Over 90% of the liquidations were spread across OKX, Bybit, Binance, and Huobi. The largest order was executed by OKX โ the exchange closed an ETHUSD position worth $7.48 million. The total amount of liquidations in the last 24 hours exceeded $500 million.
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Lifechanger: one of the recipients of the Ethena drop earned $1.96 million ๐ต
During the Ethena Labs drop, ENA tokens worth $450 million were distributed, and the top wallet 0xb56 received 3.3 million ENA, equivalent to $1.96 million.
And if they haven't sold them yet, the profit would amount to $3.13 million, as Ethena has grown by 38% since yesterday's listing ๐งช
Ethena Labs claims that their stablecoin USDe will become the top 3 in terms of market capitalization after USDT/USDC and top 1 in terms of profitability. on soical medias, they are already being compared to LUNA/UST and expected be just a new scam.
During the Ethena Labs drop, ENA tokens worth $450 million were distributed, and the top wallet 0xb56 received 3.3 million ENA, equivalent to $1.96 million.
And if they haven't sold them yet, the profit would amount to $3.13 million, as Ethena has grown by 38% since yesterday's listing ๐งช
Ethena Labs claims that their stablecoin USDe will become the top 3 in terms of market capitalization after USDT/USDC and top 1 in terms of profitability. on soical medias, they are already being compared to LUNA/UST and expected be just a new scam.
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โ๏ธEMECOINS continue to attract investors
Many experts anticipated that BTC would continue to rise sharply in price in anticipation of the halving. But as of today, the cryptocurrency is still in a state of correction.
โช Therefore, traders' attention is now turned towards recently launched meme coins:
๐ตSothana - a new asset created on the Solana blockchain, having already gathered over $5 million in presale;
๐ต Dogecoin20 - a more environmentally friendly alternative to the famous DOGE with 2-year staking rewards;
๐ต SPONGE V2 - a new version of the previously popular SPONGE, which will soon become part of a gaming project;
๐ต SMOG - a token with a large airdrop, available on the official website with a 10% discount.
Many experts anticipated that BTC would continue to rise sharply in price in anticipation of the halving. But as of today, the cryptocurrency is still in a state of correction.
โช Therefore, traders' attention is now turned towards recently launched meme coins:
๐ตSothana - a new asset created on the Solana blockchain, having already gathered over $5 million in presale;
๐ต Dogecoin20 - a more environmentally friendly alternative to the famous DOGE with 2-year staking rewards;
๐ต SPONGE V2 - a new version of the previously popular SPONGE, which will soon become part of a gaming project;
๐ต SMOG - a token with a large airdrop, available on the official website with a 10% discount.
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๐The exchange reserves of BTC have dropped from 2.8 million BTC to 1.9 million BTC over the past three years โ people are withdrawing cryptocurrency from exchanges, thereby reducing the liquid supply.
๐ธIt all makes sense! Too many problems are arising with CEXs lately (hello, Binance, KuCoin, CommEX, and others) โ it's better to store crypto on your own wallet with your own keys rather than trusting a third party with it.
๐ธIt all makes sense! Too many problems are arising with CEXs lately (hello, Binance, KuCoin, CommEX, and others) โ it's better to store crypto on your own wallet with your own keys rather than trusting a third party with it.
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๐ Ethereum L2 Could Overshadow Main Blockchain
This statement comes from VanEck, a major financial organization based in New York.
๐ The company predicts a $1 trillion valuation for L2, highlighting their potential to surpass Ethereum.
๐ธ L2 technologies, such as Zero-Knowledge Rollups (ZKU) and Optimistic Rollups (ORU), provide scalability by processing transactions off the main blockchain.
This could allow them to outperform Ethereum in revenue generation, considering the limitations of the main blockchain's transaction throughput.
๐ฌ Despite the optimistic forecast for L2, VanEck maintains a cautious stance on most L2 tokens. The firm believes that these tokens do not serve as the primary currency in the crypto ecosyste
This statement comes from VanEck, a major financial organization based in New York.
๐ The company predicts a $1 trillion valuation for L2, highlighting their potential to surpass Ethereum.
๐ธ L2 technologies, such as Zero-Knowledge Rollups (ZKU) and Optimistic Rollups (ORU), provide scalability by processing transactions off the main blockchain.
This could allow them to outperform Ethereum in revenue generation, considering the limitations of the main blockchain's transaction throughput.
๐ฌ Despite the optimistic forecast for L2, VanEck maintains a cautious stance on most L2 tokens. The firm believes that these tokens do not serve as the primary currency in the crypto ecosyste
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๐ช Second-tier projects based on Bitcoin will dominate in 2024
This was reported by analysts at Altcoin Buzz.
โข Researchers particularly noted the Stacks (STX) project. In their opinion, it will show the highest growth indicators.
Stacks is a second-tier network that solves key scalability issues. It operates on its own nodes, ensuring smooth operation of the main network.
๐ Experts have cited several reasons why the STX token's price will continue to rise. Among them is the upcoming Nakamoto upgrade โ a revolutionary update to the Stacks protocol. The introduction of the low-trust version of SBTะก will also have a significant impact.
This was reported by analysts at Altcoin Buzz.
โข Researchers particularly noted the Stacks (STX) project. In their opinion, it will show the highest growth indicators.
Stacks is a second-tier network that solves key scalability issues. It operates on its own nodes, ensuring smooth operation of the main network.
๐ Experts have cited several reasons why the STX token's price will continue to rise. Among them is the upcoming Nakamoto upgrade โ a revolutionary update to the Stacks protocol. The introduction of the low-trust version of SBTะก will also have a significant impact.
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๐ฑ TON has announced a smartphone for Web3 users.
Oyster Labs, in collaboration with TonUp, has developed the Universal Basic Smartphone with Web3 support. It features over 600 decentralized applications on the TON blockchain.
The product's goal is to accelerate the adoption of mobile blockchain technology and open up new possibilities for the TON ecosystem. The smartphone is priced at $99.
Oyster Labs, in collaboration with TonUp, has developed the Universal Basic Smartphone with Web3 support. It features over 600 decentralized applications on the TON blockchain.
The product's goal is to accelerate the adoption of mobile blockchain technology and open up new possibilities for the TON ecosystem. The smartphone is priced at $99.
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๐น๐ท A 33-year-old crypto investor shot himself in a Turkish shooting range after the recent cryptocurrency market crash โ the man wrote on his Twitter that he lost a lot of money, then went to the shooting range, got a gun, and immediately shot himself in the head.
Doctors have long proven that most traders experience depressive and other mental disorders due to a lack of emotional management skills. Even when engaging in successful trading activities in the short term, you can experience incredible stress.
Doctors have long proven that most traders experience depressive and other mental disorders due to a lack of emotional management skills. Even when engaging in successful trading activities in the short term, you can experience incredible stress.
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$1.4 trillion in liquidity will restart the bull market next week ๐ธ
Arthur Hayes shared a forecast that next week the U.S. Treasury may decide to inject $1.4 trillion in liquidity into the markets from the Treasury General Account (TGA) and Reverse Repurchase Agreements (RRP).
According to Hayes, the Federal Reserve's meeting on May 1 won't be able to influence the markets, but the dollars released by the Treasury could very well restart the bull market.
Keep the forecast in mind, there's hardly anything left until May ๐
Arthur Hayes shared a forecast that next week the U.S. Treasury may decide to inject $1.4 trillion in liquidity into the markets from the Treasury General Account (TGA) and Reverse Repurchase Agreements (RRP).
According to Hayes, the Federal Reserve's meeting on May 1 won't be able to influence the markets, but the dollars released by the Treasury could very well restart the bull market.
Keep the forecast in mind, there's hardly anything left until May ๐
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Are you ready to dive into the world of thrilling crypto winnings? eCrypt is yourdestination for the ultimate crypto lottery experience!
๐ฅ Why go for eCrypt?๐ฅ
๐ Best Odds: Say goodbye to slim chances and hello to winning possibilities! At eCrypt we prioritize your success, offering some of the best odds in the crypto lottery sphere.
๐ Secure and Transparent: Your trust is our top priority. eCrypt operates with the top security and transparency, giving fair gameplay and reliable results every time.
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