oğuz

89 posts

oğuz

oğuz

@oquzz5

Cryptocurrency forks can result in new blockchain networks.

Nepal Katılım Ocak 2011
65 Takip Edilen49 Takipçiler
oğuz
oğuz@oquzz5·
@bythenight Tron's scalability isn't just impressive—it's essential for meeting the demands of a rapidly evolving digital landscape. Its ability to handle a vast number of transactions efficiently is a game-changer for blockchain technology.
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Joen M Usta
Joen M Usta@bythenight·
The Tron network is a decentralized blockchain platform that aspires to create an expansive and interconnected global digital content ecosystem. At its core, Tron leverages its native cryptocurrency, TRX, to facilitate seamless transactions and interactions within the network. An outstanding advantage of the Tron (TRX) network lies in its exceptional scalability and impressive transaction processing capacity. This remarkable feature enables Tron to process a substantial number of transactions swiftly, ensuring the smooth execution of smart contracts and decentralized applications (DApps). The network’s scalability is of utmost importance as it plays a vital role in supporting the expansion of its ecosystem and meeting the growing needs of both users and developers. Tron (TRX) empowers developers to create and launch decentralized applications (DApps) through the integration of smart contracts into its framework. These versatile DApps span across diverse sectors, including finance, gaming, social media, and more. Tron equips developers with essential tools, resources, and support, enabling them to craft cutting-edge and fully operational applications. This fosters a dynamic developer community, driving ongoing expansion and diversification within the Tron ecosystem. #Bitcoin
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oğuz@oquzz5·
@vanessavaquiz Well done! Your ability to break down complex market dynamics surrounding Bitcoin sets you apart as a knowledgeable analyst.
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vanessa
vanessa@vanessavaquiz·
After a challenging two weeks resulting in a 21% drop, the Bitcoin (BTC) price rebounded emphatically, closing last week on a strong note. The premier cryptocurrency witnessed a surge that saw it end with a Doji Hammer candle on its weekly chart, signaling a potential bullish reversal. Notably, this uptick has propelled Bitcoin’s value back into its previous range of $41,300 to $45,000. Keith Alan, the co-founder of Material Indicators, highlighted the significance of this pattern, stating, “Looks like we have a Doji Hammer candle forming on the BTC Weekly chart. That typically indicates a bullish reversal is coming. […] If we do indeed print a Hammer, Bitcoin bulls will need to overcome resistance at the bottom range of the Golden Pocket to have a chance at a meaningful move to retest the $44k – $45k range.” Bitcoin has also reclaimed its position above the 20- and 50-day Exponential Moving Averages (EMAs), hinting at the potential for further gains. However, the anticipation surrounding the first Federal Open Market Committee (FOMC) meeting of 2024 adds a layer of complexity to Bitcoin’s trajectory. #Bitcoin
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oğuz@oquzz5·
@dipset446 Absolutely brilliant analysis! Your insights into the altcoin market are truly valuable.
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jose
jose@dipset446·
Following the approval of Spot Bitcoin ETFs, Bitcoin experienced a substantial surge, rallying to overcome the $45,000 price mark. During this bullish momentum, the prices of several altcoins, including Ethereum (ETH) and Solana (SOL), also witnessed significant increases. Related Reading: Crypto Analyst Says February Will Be A Bullish Month For Bitcoin, Here’s Why In a recent X (formerly Twitter) post, Poppe revealed major altcoins to buy or sell in 2024. The crypto analyst shared a chart illustrating the historical price movements and corrections of Solana, Polygon (MATIC) and Chainlink (LINK). #Bitcoin
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oğuz@oquzz5·
@hvy_gorilla Kudos to everyone involved! Your success is a testament to your talent, innovation, and perseverance.
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Henry Villatoro
Henry Villatoro@hvy_gorilla·
Justin Sun Will Boost Algorand To “New Heights” Algorand Foundation’s X account was the first to inform about the hack and advised users to be careful when interacting with the compromised account or any link promoted by it. The hacker then took Staci Warden’s compromised account to start a series of controversial posts and replies. The hacker called Algorand’s community “poor” in the initial post, later suggesting it would be better for the community if they “sold ALGO and instead bought Ether.” Both posts have amassed a combined total of 150,000 views and, as it’s worth noting, contain racial slurs. #Bitcoin
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oğuz@oquzz5·
@laaaurenbaby_ David Schwartz's expertise and dedication shine through in his response about the XRPL AMM. His commitment to ensuring user trust and security is truly commendable!
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Lauren Johnson
Lauren Johnson@laaaurenbaby_·
In a recent X (formerly Twitter) post, Schwartz discussed the ways an XRPL AMM could provide opportunities for XRP holders to make regular income through the AMM’s distinct trading mechanism. Related Reading: Bitcoin Whales Go On Buying Spree As Price Dips, Here’s How Much They Bought When asked by an XRP enthusiast about the potential risks of losing XRP investments if they participated in the AMM, Schwartz responded by stating that “it is not supposed to be possible to lose.” He clarified that the occurrence of losses would mean there was a flaw or unexpected bug in the implementation of the AMM. #Bitcoin
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oğuz@oquzz5·
@parkerblack102 Impressive doesn't even begin to describe BlackRock's IBIT's performance! Surpassing $2 billion in market cap reaffirms its status as a frontrunner in the Bitcoin spot ETF space.
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Randall Reed
Randall Reed@parkerblack102·
BlackRock’s IBIT Maintains Dominance As Total Net Flows Reach $744.6 Million On January 25, which marked the tenth trading day of the Bitcoin spot ETF market, BlackRock’s IBIT produced an unsurprising positive performance, notching $170.7 million in inflows. This gain allowed the investment fund to move into an exclusive list as the first Bitcoin spot ETF to amass $2 billion in market cap. Commenting on this feat, Bloomberg analyst James Seyfarrt has credited the recent rise in BTC’s price as a major contributing factor. He said: #Bitcoin
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oğuz@oquzz5·
@singer1452 Hats off to your expertise! Your predictive analysis gives us valuable insights into XRP's potential trajectory.
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natalie gonzalez
natalie gonzalez@singer1452·
Egrag suggested in an X (formerly Twitter) post that XRP could rise to $27 while analyzing the 21 Exponential Moving Average (EMA) on the monthly time frame. The analyst assessed price percentages that occur when XRP’s price is positioned either above or on the 21 EMA. Using this, he then predicted that the altcoin hitting $27 was on the cards. #Bitcoin
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oğuz@oquzz5·
@Fayebell34 The thoughtful design of Cardano's protocol reflects a commitment to security, reliability, and user empowerment.
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Ayanna  reynolds
Ayanna reynolds@Fayebell34·
It has been said that Cardano has anointed itself as a third-generation crypto platform which it regards to Ethereum as the second generation. Cardano has deemed itself fit to be a threat or competitor to Ethereum as they are both similar in so many ways, including the fact that Cardano (ADA) was created by one of the co-founders of Ethereum, Charles Hoskinson. As Ethereum is having a hard time with high gas fees issues and slow transaction times, Cardano is all set up to take their share and make a name for themselves in the NFT, DeFI, and Stablecoin market. Cardano aims to be scalable and low-cost for users compared to Ethereum, its major competitor. #Bitcoin
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oğuz@oquzz5·
@laaaurenbaby_ Kudos to Ethereum for weathering the storm and maintaining its position in the crypto landscape!
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Lauren Johnson
Lauren Johnson@laaaurenbaby_·
According to data from CoinMarketCap, Ethereum (ETH) had dipped over 2% in the last 24 hours. This negative price movement comes after an initial price boost by the token which it gained by over 19% following news of the Bitcoin spot ETF approval in the US on Wednesday. Interestingly, popular crypto analyst Ali Martinez has offered more insight into ETH’s developing downtrend, highlighting the next possible support zones for crypto’s largest altcoin. #Bitcoin
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oğuz@oquzz5·
@parkerblack102 Absolutely mind-blowing numbers! Ethereum's appeal seems to know no bounds, drawing in users at an unprecedented rate.
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Randall Reed
Randall Reed@parkerblack102·
This surge is not merely a passive spectacle; Ethereum is actively attracting an astonishing 89,400 new addresses on a daily basis, with an unprecedented 96,300 joining the Ethereum community in a single day. #Bitcoin
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oğuz@oquzz5·
@singer1452 Your analysis of the cooldown in ETH funding rates showcases your ability to navigate complex market indicators with clarity and precision. Bravo!
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natalie gonzalez
natalie gonzalez@singer1452·
An analyst in a CryptoQuant Quicktake post explained that the ETH funding rates have seen a cooldown from their previously overheated levels. The “funding rate” refers to the periodic fees that futures contract holders on derivative platforms currently exchange with each other. When the value of this metric is positive, it means that the long contract holders are paying a premium to the shorts to hold onto their positions. Such a trend implies that most traders share a bullish sentiment right now. #Bitcoin
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oğuz@oquzz5·
@Fayebell34 Impressive analysis! Your attention to detail in evaluating Ethereum's potential reversal signals is commendable.
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Ayanna  reynolds
Ayanna reynolds@Fayebell34·
Ethereum ETHUSD Possible Reversal Signal The two top cryptocurrencies by market cap, Bitcoin and Ethereum, have had an unusual divergence between the two assets in terms of price action. While Ethereum bottomed early in 2022, Bitcoin found its bottom later in November of the same year. But in 2023, BTC outperformed ETH by a wide margin. #Bitcoin
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oğuz@oquzz5·
XAI has experienced remarkable growth, surpassing Bitcoin and making a name for itself in the cryptocurrency scene by combining gaming and payments. Its unique approach of linking real money to video games has attracted a wide audience. With a solid foundation and strong support network, XAI stands out in the gaming world. This recent surge in growth showcases the strong interest in the gaming/crypto intersection. While it remains to be seen if this interest will continue, there are several gaming-related projects, including XAI, that have the potential for impressive returns in the coming weeks.
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alondra melendez
alondra melendez@alo_melendez·
XAI Hits Strong 30% Weekly Growth, Yet This Crypto Promises Even Greater Potential Outpacing Bitcoin (BTC), Xai (XAI) is swiftly becoming a standout in the cryptocurrency scene with its fresh take on merging gaming and payments. Defying expectations, Xai is on a tear, quickly outpacing its crypto rivals and even casting Bitcoin's growth in the shade. By linking real money to video games, Xai (XAI) smartly bridges gaming and finance in a novel way that is appealing to a wide audience. Xai (XAI) stands out in the gaming world because its solid foundation and strong support network for those running nodes beef up both its reliability and charm among users.This recent growth shows that there's strong interest in the gaming/crypto intersection . Whether that interest is going to stay around for a while, time will tell, but for now there are several gaming-related projects aside from Xai (XAI) that can show impressive returns in the upcoming weeks.Ride The Wave Of Innovation With ScapesManiaAs the ScapesMania presale nears its completion in February, the team is working hard to secure a quick listing on tier-1 exchange platforms. There is a good probability that the token's value will increase exponentially after the listing.The team behind ScapesMania, with years of expertise, has crafted a robust post-listing marketing strategy. Buyback, burn, staking, and all the perks for holders keep attracting new adopters. Through DAO governance, backers will be able to influence and benefit from a multi-billion-dollar industry.Moreover, the token's utility is impressive. It's not another meme coin whose success relies heavily on trends and hype. ScapesMania (MANIA) is a well-balanced, meticulously designed project that acts as a gaming ecosystem. As the presale is wrapping up, you need to act fast and grab your discounted tokens now! The countdown is on – don't let this chance pass you by.Presale is Live Now – Join Now for a Chance to Benefit with MANIAScapesMania, a player in the $376 billion gaming industry, leverages the market's growth potential. Post-exchange debut, holders can anticipate greater liquidity and easier trading.The community's excitement about the project is evident so far, with $4,500,000+ raised to date from crowd/retail contributions alone. Notably, the fundraising amount is growing by $50,000+ daily and the follower count has reached 60K+ and showcases a weekly growth of 12%.The growing interest from crypto whales with checks of $20,000+ might expedite ScapesMania's transition from niche to mainstream.ScapesMania's smart contract has received approval from prominent security-ranking firms, ensuring peace of mind for holders. Additionally, the award-winning team behind ScapesMania secured a prestigious grant from a prominent player in the blockchain industry.Furthermore, ScapesMania is notable for putting its community front and center. Driving customer engagement and making sure that everyone benefits through great tokenomics and generous rewards is where ScapesManias stands out.Make sure you don't pass up the opportunity to get the early bird discount as the presale nears its end. Be quick if you want to get your hands on those lucrative tokens before they're all gone.Presale Ending Soon — Secure a Discount Now!Xai's (XAI) Value Soars, Defying Bitcoin's Recent PauseWhile Bitcoin (BTC) remains stagnant, the Xai (XAI) value has impressively risen, overshadowing established cryptocurrencies like Ripple (XRP) and Celestia (TIA), marking its territory in the competitive world of gaming digital currencies. The remarkable upswing in value of Xai (XAI) owes much to well-planned moves like rewarding early adopters and those running the network with airdrops, a strategy that stands out even more amid the broader gaming industry's crypto involvement.The recent rally of Xai (XAI), jumping over 30%, has defied the market correction, fueled by smart moves that have caught investors' attention. The recent airdrop, which included rewards for holders of early Xai NFT collectibles and validator node operators, has contributed significantly to this surge. The airdrop's value escalated from around $70 million to an impressive $140 million. Market insiders are all in on Xai (XAI), seeing its fresh merger of gaming and blockchain as a potential industry disruptor. Xai (XAI) operates as a "layer-3" network on Arbitrum, a layer-2 scaling network for Ethereum, focusing on scalability, user-friendliness, and interoperability.Based on current trends and expert analysis, Xai (XAI) is projected to fluctuate between $1.070 and $1.466 in the short term. Achieving the upper price target could lead to a significant increase of nearly 35%, bringing Xai (XAI) to $1.466.ConclusionXai (XAI) has truly made waves in the GameFi world, soaring by a full 100% and outpacing its main rivals with impressive tenacity. Additionally, the emergence of new tokens indicates a growing interest in gaming-related projects. The newcomers are showing impressive presale dynamics and are enjoying a growing interest from crypto whales.Disclaimer: This is a sponsored article and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.
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oğuz@oquzz5·
According to recent data, the most profitable proof-of-work (PoW) algorithms for mining in 2024 have undergone significant shifts compared to 2022. Bitcoin's SHA256 algorithm, which was previously ranked seventh, has now risen to become the third most profitable crypto network for mining operations. The current leader in terms of profitability is kaspa KKAS, utilizing the Kheavyhash algorithm. Grin (GRIN) values have caused the Cuckatoo32 algorithm to surpass Bitcoin's SHA256 in terms of earnings. Ethash and Blake2B-Sia algorithms rank as the next two most profitable, linked to cryptocurrencies such as ethereum classic (ETC), siacoin (SC), and scprime (SCP). Interestingly, Scrypt mining, which includes litecoin (LTC) and dogecoin (DOGE), has seen a decline in profitability since September 2022. These shifts highlight the dynamic nature of the cryptocurrency mining landscape.
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oğuz@oquzz5·
Ron DeSantis, who opposed central bank digital currency (CBDC), has withdrawn from the US presidential race due to a lack of a clear path to victory. In a statement, he stated that he couldn't ask his supporters to volunteer and donate resources without a viable chance of winning. He confirmed his support for Donald Trump, acknowledging that a majority of Republican primary voters want to give Trump another chance. DeSantis finished second in the Iowa primary, lagging behind Trump. He had vowed to ban a digital dollar if elected, a stance that aligns with Trump's promise to never allow the creation of a CBDC. CBDCs have both potential benefits such as payment efficiency and financial inclusion, as well as concerns over privacy infringement and government control. Currently, over 100 countries are researching CBDC technology, with nearly 40 countries working on pilots or proofs-of-concept.
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oğuz@oquzz5·
Solana Mobile's confirmation of 30,000 pre-orders for its upcoming smartphone edition, Solana Mobile 2.0, in under 48 hours, showcases the growing consumer interest in blockchain technology. The new edition, with its powerful Snapdragon® 8+ Gen 1 processor, ample RAM and storage, and impressive OLED display, promises a robust user experience. Additionally, the integrated crypto wallet and customizable Android software cater to the needs of the crypto community. The introduction of a dedicated dApp store further strengthens Solana Mobile's position in merging mainstream mobile technology with decentralized finance and applications. The company's responsiveness to market feedback, exemplified by improving upon past criticisms, demonstrates their commitment to user satisfaction and product enhancement. The substantial number of pre-orders holds significant implications for the SOL coin and the Solana ecosystem, with the community eagerly awaiting more details about the related BONK token airdrop. This launch signifies the integration of blockchain technology into our everyday lives and offers a positive market outlook for Solana Mobile and the broader Solana ecosystem. Ultimately, the success of the Solana Mobile 2.0 pre-orders marks a significant milestone in advancing blockchain in the mobile technology sector and contributing to a thriving Solana ecosystem.
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Begüm torku
Begüm torku@BTorku·
Solana Mobile Confirms 30,000 Pre-Orders — What Super Bullish Impact Does This Have On SOL? In a remarkable show of market interest, Solana Mobile has officially announced a staggering 30,000 pre-orders for its upcoming smartphone edition, Solana Mobile 2.0. This number of pre-orders, achieved in less than 48 hours, is a testament to the growing consumer interest in blockchain technology. Solana Mobile 2.0 – A Blend of Power and Blockchain Innovation Building upon the foundations of the Solana Saga, the Solana Mobile 2.0 edition will retain the celebrated features of its predecessor while addressing past criticisms to offer an even more robust user experience. It comes with the Snapdragon® 8+ Gen 1 processor, complemented by 12GB of RAM and 512GB of Flash storage. With these specifications, the device can handle everyday smartphone needs and run demanding blockchain applications. The 6.67″ OLED display will deliver a visually stunning experience with aesthetics and functionality at the same time. Moreover, the Solana Mobile 2.0 will come with an integrated crypto wallet and customizable Android software. The Crypto Community’s Embrace – A DApp Store and More Perhaps one of the most exciting features for the crypto community is the dedicated “dApp store.” This store will meet the growing demand for decentralized applications, placing Solana Mobile at the forefront of bridging mainstream mobile technology with the decentralized finance and app world. Solana Mobile’s decision to launch the 2.0 edition reflects its responsiveness to market feedback. The criticism from influential tech reviewer Marques Brownlee (MKBHD) of the Solana Saga as the “Worst New Phone of 2023” has been a catalyst for improvement, showing the company’s dedication to user satisfaction and product improvement. What Does This Mean for SOL and the Blockchain Ecosystem? The overwhelming pre-order figures for Solana Mobile 2.0 could have far-reaching implications for the SOL coin and the Solana ecosystem. While details regarding a BONK token airdrop related to the new phone are still under wraps, the Solana community is waiting for more information. This launch is more than just about a new smartphone; it’s about how blockchain technology makes its way into our daily lives. The initial response to the pre-orders signals a positive market outlook for Solana Mobile and, by extension, for the Solana ecosystem. In conclusion, the success of the Solana Mobile 2.0 pre-orders is a significant step in the right direction. As Solana Mobile continues to break new ground, it sets the stage for the further evolution of blockchain in the mobile technology sector and a more vibrant Solana ecosystem.
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oğuz@oquzz5·
Traders in China have found ingenious ways to bypass the country's crypto ban, despite the strict regulatory environment. They have diversified their payment methods, using cash or bank transfers for cryptocurrencies, and have chosen specific cities like Chengdu and Yunnan where monitoring and enforcement by the central government is less intense. Some traders have also turned to VPNs to access foreign crypto exchanges, despite exchanges claiming to have closed accounts of Chinese residents. Additionally, some traders have resorted to opening accounts with forged documents to evade Know Your Customer protocols. This creative approach highlights the difficulty of effectively policing the crypto sector in the face of determined traders. China's unsuccessful attempts to ban crypto trading have put their strict capital controls at risk.
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oğuz@oquzz5·
According to seasoned market analyst Kevin Svenson, Bitcoin is projected to reach a new all-time high within the next four months. Svenson's analysis revolves around the correlation between the S&P 500 index and Bitcoin's price movements. He highlights the historical pattern of Bitcoin's major price milestones following the S&P 500's upward momentum, particularly after Bitcoin halvings. Svenson draws attention to the second halving in 2016 and the third halving in 2020, where Bitcoin reached new all-time highs approximately seven months later. Currently, the S&P 500 is nearing its all-time high, while Bitcoin is still 40% below its peak. Svenson interprets this as a sign of an upcoming surge for Bitcoin, predicting that it is around four to six months away from reaching a new all-time high if the S&P 500 breaks its record. This analysis offers hope for crypto enthusiasts and investors, suggesting the possibility of a new growth phase and a potential bull market in the crypto sector. However, given the volatile nature of the crypto market, these predictions should be approached with caution.
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Karen del angel
Karen del angel @Karendelangel7·
‘Bitcoin Will Hit A New All-Time High In 4 Months’, Says Seasoned Market Analyst In the dynamic world of crypto, predicting the next big surge or dip can be daunting. However, seasoned cryptocurrency analyst and trader Kevin Svenson, known for his insightful analyses and substantial YouTube following, has recently made a bold forecast regarding the future trajectory of Bitcoin (BTC). Historical Correlation Between the Stock Market and Bitcoin Svenson’s primary focus in his latest analysis is the intriguing connection between the S&P 500 index and Bitcoin’s price movements. The S&P 500, a benchmark index representing 500 of the largest U.S. companies, has historically been a precursor to Bitcoin’s major price milestones. Svenson highlights this pattern, particularly during the periods following Bitcoin’s halvings – significant events in the Bitcoin world where the reward for mining new blocks is halved, effectively reducing the rate at which new bitcoins are generated. The 2016 and 2020 Halvings: A Retrospective Analysis Svenson draws attention to the second Bitcoin halving in 2016. He points out that shortly after the S&P 500 index climbed to new heights, Bitcoin followed suit, marking a new all-time high about seven months later. A similar pattern unfolded during the third halving in 2020, solidifying the notion that movements in the stock market can be a precursor to significant shifts in Bitcoin’s valuation. The S&P 500 is close to its all-time high of 4,796 points, set in early 2022. In contrast, Bitcoin is trailing, still 40% below its all-time high. Svenson interprets these signs as indicative of an upcoming surge for Bitcoin. Drawing from historical patterns, he suggests that Bitcoin is likely around four to six months away from reaching a new all-time peak, assuming the S&P 500 breaks its record. Implications for the Crypto Market Svenson’s analysis offers a ray of hope for crypto enthusiasts and investors. If his predictions based on historical trends hold, the market could see Bitcoin enter a new growth phase and potentially spark a full-on bull market in the crypto sector. While the crypto market is known for its volatility and unpredictability, Svenson’s analysis based on the correlation with the S&P 500 provides a compelling argument for a potential upcoming increase in Bitcoin’s price. However, if the past is anything to go by, the next few months could be a pivotal period for Bitcoin and its investors.
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oğuz@oquzz5·
Introducing Chinder, a new app that combines cryptocurrency charts with the swiping experience of Tinder. Developed by Virtual Facade, Chinder allows users to swipe left and right on Solana-based tokens, making it easy to buy or continue browsing. Virtual Facade explained that Chinder offers a convenient way to consume a large amount of information and discover new on-chain charts without the need for multiple tabs. The positive feedback from crypto traders has encouraged further development of the app's capabilities, including plans for user-specific chart selection filters. Currently, Chinder does not charge any fees, but new users referred through Chinder will receive 10% off Unibot fees, helping to support the protocol.
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Andrea Connor
Andrea Connor@andixxthe·
Tired of Tinder? New app lets you swipe left and right on cryptocurrencies What do you get when you combine cryptocurrency charts with Tinder? Answer: Chinder, naturally, a new app that lets users swipe between cryptocurrency charts for Solana-based tokens. Swipe right to buy, and swipe left to keep browsing. The experiment comes courtesy of pseudonymous developer Virtual Facade, who developed the app as an extension of Unibot, a Telegram bot that lets users buy and sell cryptocurrencies and which recently expanded into the Solana ecosystem. “I think that all swiping and bag marrying jokes aside, I haven’t come across a product where you can consume a large amount of information and discover new on-chain charts quickly without having to go to the effort of opening multiple tabs,” Virtual Facade told The Block. Virtual Facade was happy to see the positive reception the app received from crypto traders, saying they were ready to run with the experiment “full steam ahead.” “The community has been extremely helpful and experienced members have reached out to assist and provide useful information and feedback,” the developer said. The app currently takes no fees of its own, but users who are new to Unibot will have Chinder set as their referrer, helping the protocol and receiving 10% off Unibot fees. Facade hopes to expand the app’s capabilities in the future. “There is a solid list of plans to expand with new features such as filters for user specific chart selection soon, allowing users to swipe through until they find something they’d like to buy,” Virtual Facade said. Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures. © 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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According to a Bloomberg analyst, there is a 70% chance that Coinbase will come out on top in its SEC case. The SEC has accused the company of selling unregistered securities and running an unlicensed staking-as-a-service program. However, during a recent hearing, Judge Katherine Polk Failla expressed doubts about the SEC's definition of collectibles, which may work in Coinbase's favor. Coinbase's lawyers argued that not all cryptocurrency purchases should be considered investment contracts, with the analogy of investing in Beanie Baby Inc. and buying Beanie Babies being used. The judge has not yet made a ruling, but the analysis suggests that Coinbase has a good chance of winning, even if not on this motion, then eventually.
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Lachlan Illingworth
Lachlan Illingworth@lachillingworth·
Bloomberg analyst estimates 70% chance of Coinbase winning SEC case What differentiates a security from a collectible? That question is at the heart of the Securities and Exchange Commission’s lawsuit against Coinbase, as the agency is accusing the company of selling unregistered securities and operating an unlicensed staking-as-a-service program. But after the SEC’s lawyers faced pointed questions from New York District Judge Katherine Polk Failla, who wondered aloud whether or not the agency’s definition of collectibles was too broad, a Bloomberg analyst has estimated that Coinbase currently has the edge in the case. “The judge wanted a limiting principle to the SEC definition of "investment contract" that wouldn't encompass collectibles. We view the one offered by Coinbase as more compelling, requiring investment in a business vs. just an ecosystem, along with an enforceable obligation,” Bloomberg senior litigation analyst Elliott Stein wrote. Coinbase’s lawyers argued that not all cryptocurrency purchases constituted investment contracts, likening the difference to “investing in Beanie Baby Inc. and buying Beanie Babies.” Also in question was whether or not the tokens had an “ecosystem” behind them; lawyers on both sides differed on whether or not Bitcoin constituted an ecosystem, for example, with the SEC’s lawyers arguing that it does not. Judge Faila did not rule from the bench at the end of the four-hour hearing, saying she needed more time to consider the questions at hand. If Coinbase’s motion is dismissed, either whole or in part, the case will continue on to discovery. Stein’s analysis notes that Coinbase may not win this motion, but projects that the company will win eventually. “Our Thesis: Coinbase is 70% likely to beat the SEC, if not outright on this motion, then later,” Stein wrote. “Even if the case survives, it likely reaches the Supreme Court, which we think will narrow Howey,” Stein also argued, referring to the standard for deeming assets as securities under U.S. law. Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures. © 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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