Kategorie: Allgemein

• MakerDAO [MKR] community voted to keep USDC as the primary reserve.
• The USDC scare caused holders to liquidate their holdings, causing it to lose its peg.
• USDC appears to have recovered from its initial downtime with a market valuation of nearly $34 billion and Maker (DAI) came in fourth with a market worth more than $5 billion.

MakerDAO Community Reinstates Trust in USDC

The MakerDAO community recently held a vote on how the DAI token would be backed in a peg-stability-module proposal (PSM). In the end, 79.02% of the community voted to keep USDC as DAI’s primary reserve, showing that they still trust in Circle’s [USDC].

The USDC Scare

Following the bankruptcy of Silvergate bank, which had significant exposure to many crypto projects including Circle, FUD developed toward USDC. As a result, holders scrambled to liquidate their holdings, causing it to lose its peg. This also impacted DAI due to its high exposure; it lost its peg as well and had 3 billion USDC locked in PSM – over 55% of PSM according to daistats.

Emergency Switch Proposal

In response, the MakerDAO community considered adopting an emergency switch that would halt PSM swaps on its system and stop token purchases necessary for creating fresh DAI tokens.

Current State of USDC & DAI

The exchange reserve for USDC has returned back normal according CoinMarketCap – with a market valuation of nearly $34 billion, it remained the second-largest stablecoin while Maker (DAI) came fourth with a market worth more than $5 billion.

Maker Predictions 2023-24

While there is no guarantee that this trend will continue over time, at present it appears that USDC will remain the primary backing for MakerDAOs [MKR]. If future FUD were ever encountered by Circle again however, then we could see another downturn for both DAI and MKR tokens.

• Binance Coin [BNB] reacted positively in the past four days and gained by 20.5%.
• The daily market structure of BNB is bullish with support at $285-$292 zone.
• Spot CVD surged past February highs while Open Interest dropped, showing weakening bullish sentiment.

Overview of Binance Coin [BNB]

Binance Coin (BNB) has experienced a surge in the past four days, increasing by 20.5%. The daily market structure of BNB is bullish and there is support at $285-$292 zone. Spot CVD surged past February highs while Open Interest dropped, showing weakening bullish sentiment.

Bullish Market Structure for BNB

On the daily timeframe, the market structure for Binance Coin seemed to be bullish once more. The recent lower high at $294 was beaten during the latest reversal, but the $309-mark has posed some resistance over the past 24 hours. A strong confluence of support at $292 was formed on Technical Analysis which showed a 78,6% retracement level lay at $276.7, almost same as Value Area Low ($274.7). Moreover, price action from early March showed that the $285-$292 region was significant support on the lower timeframes. Relative Strength Index (RSI) crossed over above neutral 50-level and indicated that bullish momentum had taken root while On Balance Volume (OBV) also recorded gains which could continue higher if trend remains intact.

Spot CVD & Open Interest

The funding rate had been negative over last two days but it has since slowly climbed above into positive territory implying long positions are dominant once again in market which shows possible flip in sentiment.. At same time spot CVD underlined strong demand but Open Interest dipped over last 48 hours yet price appreciated during this time indicating weakening of bullish sentiment .

Conclusion

Longer-term buyers can wait for a retracement into the $285-$292 zone while more risk-averse traders can wait for positive reaction over three days before looking to buy and trade with trend according to data from Technical Analysis and other indicators like RSI , OBV ,Funding rate etc .

Disclaimer

The information presented does not constitute financial , investment , trading or other types of advice and is solely writer’s opinion .

• Bware Labs is launching the mainnet for their blockchain API platform, Blast.
• Blast provides access to a growing number of networks and uses Proof of Quality protocol to ensure reliability and speed.
• Node Providers can stake tokens while other users can earn APY by delegating to a Node Provider.

Bware Labs Launches Blast Mainnet

Bware Labs, a leading blockchain infrastructure provider, is launching today the mainnet of their blockchain API platform, Blast.

What is Blast?

Blast is a blockchain API platform, designed to provide easy blockchain access to the most relevant networks in the blockchain space. Using Blast, developers are able to get RPC, REST, and WebSocket access to an ever-growing number of blockchain networks in just a couple of simple steps.

Proof of Quality Protocol

The speed and reliability of the API platform will rely mainly on the platform’s Proof of Quality protocol, which refers to enabling node owners to permissionlessly join the Blast Protocol as Node Providers, under the condition that their nodes can satisfy the platform’s performance and data integrity standards. To participate in Blast’s protocol, Node Providers will need to stake tokens, while all other users can earn an APY by delegating to a Node Provider using Blast’s delegation explorer.

Token Holder Governance

Blast’s token holders will also play a critical role in governing the platform’s future development initiatives and improvements for the Decentralized Infrastructure Protocol. In addition, token holders have an opportunity to participate in staking pools by delegating INFRA tokens from Bware Labs.

Commitment To Support Developers

The mainnet launch is part of Bware Labs‘ ongoing commitment to support Web3 developers throughout their entire blockchain journey by providing high-quality solutions that can help them scale their products faster and easier.

• XMR has dropped to its January lows, forming a bullish descending wedge pattern.
• XMR’s hash rate has declined significantly since mid-February.
• Open interest (OI) rates in XMR showed slight improvement, indicating a growing demand for the cryptocurrency in the futures market.

Monero [XMR] Price Prediction 2023-24

Bullish Descending Wedge Pattern

Monero [XMR] hiked 27% in January, reaching a high of $188, up from $147. However, the privacy-focused cryptocurrency has corrected all the gains during its decline in February. Its decline chalked a bullish descending wedge pattern which could offer a lifeline to bulls. At press time, XMR had dropped below $150 and formed this wedge pattern. If XMR breaks above the pattern or retests it after a pullback, long-term bulls can aim at the bullish target of $180 – a 14% potential hike. On the other hand, short-sellers can look to book profits at $134 or $122 if there is a bearish breakout below the lower boundary of this pattern ($145). The RSI was below 50 at press time and bears have more influence on the market currently.

Hash Rate & Open Interest Rates

XMR’s hashrate has declined significantly since mid-February as low highs were made since then showing that less computational power and resources were needed to secure the network. This drop leads to depreciation as miners are compensated in XMR so potentially strong bullish breakouts may be farfetched if this continues. On the other hand, open interest (OI) rates for XMR showed slight improvement with high lows being made since mid-February indicating an increase in demand for XMR in the futures market which could pave way for bullish breakouts if momentum picks pace.

How Much Is 1, 10 & 100 XMRS Worth Today?

At press time 1 Monero was worth approximately $148 while 10 was worth approximately $1480 and 100 was worth approximately$14800 according to CoinMarketCap data .

Disclaimer

The information presented does not constitute financial, investment, trading or any other types of advice and is solely based on writer’s opinion hence readers are advised to do their own research before making any decisions based on it .

• The SEC’s recent action against Kraken had an immediate impact on the price of Safemoon (SFM). SFM was trading at $0.0002581 at press time, and its market capitalization stood at 144,522,922.
• SafeMoon switched to V2 in December 2021 and has been actively promoted by the SafeMoon army since then. It has also outperformed most top meme coin projects‘ ROI since its introduction.
• Analysts and platforms have made various predictions regarding the future price of SafeMoon (SFM), but it is impossible to predict given how volatile the crypto market is.

Overview of Safemoon

The crypto market has been rocked by fresh regulatory actions against crypto units across the globe. The latest SEC action against Kraken had an immediate impact on the digital assets as the price of Safemoon (SFM) kept plummeting. SFM was trading at $0.0002581 at press time, remaining stagnant for the past few days.

Performance of SFM Coin

SFM was heavily promoted as a long-term investment. To accomplish this, it increased transaction fees by 10%, with coin owners receiving 50% of the funds. Safemoon has had a difficult year, with the company accused of manipulating its price with celebrity endorsements, prompting some investors to file lawsuits against it. Its press time market capitalization stood at 144,522,922. Since its introduction, SafeMoon has outperformed most top meme coin projects‘ ROI, where most of them have been operating for a year. As one of CoinMarketCap’s most popular pages, SafeMoon has had more visits than Bitcoin and Ethereum combined. SafeMoon received a breakout reaction, or nearly a million searches according to Google’s trending statistics of the globe filter. In 2021 SFM significantly repaid its investors as it hit an all-time high in April 2021 before settling around current levels for October 2021 onwards indicating potential stability in terms of pricing behavior .

SafeMoon Switching to V2

SafeMoon switched to V2 in December 2021 which saw significant changes in terms transaction fees and other features like token burning that are expected to be beneficial for holders in terms value appreciation over long term periods . This coin is actively promoted by the SafeMoon army which works nonstop day and night making sure holders get their due share from transaction fees collected on each transaction processed through network .

Analysts & Platforms Predictions

Given how volatile the crypto market is ,it is impossible to predict exact future prices even if well known analysts & platforms make predictions about same . Most recently Fear & Greed Index provided insight into overall investor sentiment towards cryptocurrency markets suggesting an increase in overall optimism towards cryptomarkets when compared with previous years .

Final Thoughts

It remains unclear what will happen with safemoon prices over upcoming months but considering recent developments & trends indicates that prices may stabilize or increase steadily over long run depending upon demand from traders & investors looking for safe investments . With such a large circulating supply ,it will be interesting to see how safemoon performs relative other coins within cryptosphere over coming years .

• Avalanche [AVAX] fell from $20.24 to stand at $19.73, a loss of 2.5%.
• A level of support with a pocket of liquidity at $18 meant Avalanche retained strong support despite recent selling.
• Higher timeframe analysis showed that Avalanche could be set for a dip toward $18.7 and the $17.8 levels.

Overview

Bitcoin [BTC] fell beneath the $23k mark over the past few hours of trading and much of the crypto market stood in the red for the day. Avalanche [AVAX], too, noted losses during the day’s trading, falling from $20.24 to stand at $19.73, a loss of 2.5%.

Support Level

A level of support with a pocket of liquidity at $18 meant Avalanche retained strong support despite recent selling. Bullish traders can wait for a bounce and a lower timeframe bullish market structure before looking for entries to long positions, while higher timeframe bulls can wait for AVAX to drop into an area of interest between $17.5-$18.6 before entering their positions as this zone represented strong buyers when breached in late January 2023 due to signifying bullish dominance then. Further south, AVAX has a level of support at $16.8 and at $15.77 – if it closes beneath this point on a daily session, it’ll flip its structure bearish until then though buying at important supports is risky due to waning bull momentum indicated by dropping RSI towards neutral 50 yet rising OBV showing buying pressure still exists in market participants who are still positioned bullishly thanks to positive funding rate that hasn’t yet flipped strongly either way..

Open Interest & Funding Rate

Open Interest spiked upward on 28 January but has since made several lows while AVAX reached its peak price around then too before weakening OI further even with bearish divergence RSI made with price yet funding rate remains positive which suggests market participants remain bullishly positioned so far even as OI weakens..

Realistic Market Cap

Realistic or not, here’s AVAX’s market cap in BTC’s terms – it was worth 0 BTC when Bitcoin crashed beneath 22 very but now stands higher than that so investors could look at entering long positions once possible bounce happens off significant support level if they’re willing take risk involved by doing so..

Disclaimer

The information presented does not constitute financial, investment, trading or other types of advice and is solely the writer’s opinion – buyers should conduct their own research before making any decisions based on what they read here as there may be risks involved depending on individual’s personal circumstances..

• Randall Crater, founder of a multi-million dollar fraudulent crypto scheme, was sentenced to 8 years by U.S. District Court Judge Denise Casper in Massachusetts.
• The team amassed $7.6 million and spent it on a house, cars, and other luxurious items.
• Crater was earlier convicted on four counts of wire fraud, three counts of unlawful monetary transactions, and one count of operating an unlicensed money-transmitting business by a federal jury in July 2022.

Randall Crater, the founder of a multi-million dollar fraudulent crypto scheme, was sentenced to 8 years in prison by U.S. District Court Judge Denise Casper in Massachusetts. The team amassed $7.6 million and spent it on a house, cars, and other luxurious items. This came after Crater was earlier convicted on four counts of wire fraud, three counts of unlawful monetary transactions, and one count of operating an unlicensed money-transmitting business by a federal jury in July 2022.

My Big Coin was a fraudulent cryptocurrency company that was founded by Crater in 2013 and falsely marketed it as a cryptocurrency payment service, enticing victims between 2014 and 2017. The coins on My Big Coin were fully functional cryptocurrencies, backed by gold and affiliated the platform with Mastercard. Crater claimed to the investors that the coins were backed by gold and were exchangeable for US dollars and other fiat currencies through the My Big Coin Exchange.

Joseph R. Bonavolonta, Special Agent in Charge of the Federal Bureau of Investigation, Boston Division, said: „Spreading outright lies, Randall Crater defrauded dozens of victims out of more than $7.5 million, convincing them their cryptocurrency investments were backed by gold when in reality their hard-earned money went to funding his lavish lifestyle.“

Crater and his marketing team spent a large chunk of the $7.6 million on a house, several cars, and over $1 million on antiques, artwork, and jewelry. Crater was ordered to pay more than $7.6 million to victims of his fraudulent cryptocurrency scheme. He was also sentenced to 100 months in prison in addition to the eight-year sentence.

The U.S. Department of Justice issued a press release on 31 January, which stated that My Big Coin founder Randall Crater was sentenced to 100 months in prison by U.S. District Court Judge Denise Casper in Massachusetts. This sentence will serve as an example to those who attempt to defraud investors and use cryptocurrencies to their own advantage.

• The on-chain platform Santiment reported that Litecoin [LTC] whale transactions in the $1 million region hit a high of 2023 on 25 January.
• According to Glassnode, the Litecoin reserve risk was 0.00069, indicating a high level of confidence in holding the cryptocurrency.
• After hitting highs earlier in January, Litecoin [LTC] whales have once again stamped their authority in the market with large transactions hitting peak levels.

The past few weeks have been an interesting one for Litecoin [LTC], with the digital currency reaching new highs and whales exhibiting a high level of confidence in the coin. According to on-chain platform Santiment, whale transactions around the $1 million region hit 2023 highest on 25 January. This marks the third time that transactions at this scale have occurred, with the previous two occasions leading to notable increases in the LTC price.

Meanwhile, Glassnode reported that the Litecoin reserve risk was 0.00069— a considerably low value. The reserves risk measures the belief that holders of an asset have in it, and with the LTC price incredibly down from its all-time high (ATH), it matches the viewpoint of unwavering trust in holding the cryptocurrency.

The whales‘ actions were in contrast to what they were involved in a few days back as most sold off part of their holdings. However, the resurgence in large transactions has made it clear that the whales are still very much in the Litecoin market.

It is difficult to state with certainty what the direction of Litecoin will be in the future, but with whales seemingly increasing their stake in the digital currency, it could be an indication of a potential uptrend. Only time will tell what the future holds for the popular cryptocurrency, but one thing is certain— Litecoin has a strong base of supporters who are willing to back and invest in it, regardless of the current market conditions.

• PancakeSwap (CAKE) remained popular among the whales and recently revealed that it burned CAKE worth over $27 million.
• WhaleStats pointed out that CAKE was on the list of the tokens that the top 100 BSC whales were holding.
• CoinMarketCap’s data revealed that CAKE’s price increased by over 7% in the last 24 hours, and at the time of writing, it was trading at $4.15 with a market capitalization of more than $683 million.

PancakeSwap (CAKE) has been gaining traction among cryptocurrency whales and investors despite the ambiguous market indicators. Recently, the network revealed that it burned CAKE worth over $27 million. This deflationary characteristic of the token kept its market capitalization steady. Moreover, WhaleStats pointed out that CAKE was among the tokens that the top 100 BSC whales were holding. This gave an extra boost to the investors’ confidence.

The price of CAKE has also seen a steady increase. According to CoinMarketCap’s data, the token’s price increased by over 7% in the last 24 hours. At the time of writing, CAKE was trading at $4.15 with a market capitalization of more than $683 million. CryptoQuant’s data showed that the token’s realized capitalization was increasing steadily, which was another indicator of the token’s potential.

PancakeSwap’s continuous efforts to make the platform better, as well as the support from whales, have been the primary drivers of the token’s success. The platform recently introduced NFT-based products, which have also been well-received by the investors. With more people showing interest in the token, it is expected that the CAKE’s price will continue to increase in the near future.

• Cardano [ADA] experienced a network outage which was quickly brought back to life with no network restart being required.
• Cardano lost its position as the top project per GitHub’s daily development activity, being overtaken by Polkadot [DOT].
• On-chain development activity showed that Cardano had slightly improved from 22 January, with its value at 85.67.

Cardano [ADA], a decentralized Proof-of-Stake (PoS) blockchain, experienced a brief network outage, details from its developers‘ telegram channel showed. According to a tweet by Rick McCracken, the blackout was a brief one, and most nodes impacted had gracefully recovered without requiring a network restart. Despite this, Cardano lost its position as the top project per GitHub’s daily development activity, being overtaken by Polkadot [DOT].

At the time of writing, Polkadot [DOT] had surpassed Cardano, while the latter stayed second with its value at 91. Source: ProofOfGitHub. This is believed to be due to the interruption that Cardano experienced, although there is no certain way to prove this. Nonetheless, the Cardano engineer noted that the outage impacted the nodes but did not take down the entire Cardano network. The nodes are known to ensure seamless transactions on the blockchain.

Tom Stokes, Cardano’s stake pool operator, noted that more than half of its nodes were affected during the period. Regarding its velocity, Santiment data showed that ADA was down to 2.08. The metric reveals the average number of times a certain asset moves from one address to another within a given period.

On-chain development activity showed that Cardano had slightly improved from 22 January, with its value at 85.67. This metric measures a project’s devotion to upgrading its network, and Cardano has not been silent about continually polishing its ecosystem. Hence, the development activity value aligned with its constant proclamation.

The interruption experienced by Cardano did not cause any major damage to the network, as it was quickly brought back to life. However, it did cause Cardano to lose its top spot on the development activity rankings, showing that there is always room for improvement and that projects should always strive to stay ahead of their competition.