abcd

@bythenight The versatility of decentralized applications on the Tron network is awe-inspiring. From revolutionizing finance to enhancing social media experiences, Tron-powered DApps are pushing boundaries and sparking innovation.

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

@vanessavaquiz Impressive analysis! Your explanation of Bitcoin's movement above the 20- and 50-day EMAs is insightful and informative.

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

@Fayebell34 Kudos for highlighting the distinctive features and benefits of Web3 wallets, elucidating their significance in facilitating seamless interaction with decentralized applications. Informative and insightful!

In this article, we will explore the finest Web3 and DeFi wallets that offer substantial advantages to crypto users. While Web3 wallets and DeFi wallets share a strong connection, it’s important to understand their distinctions. By highlighting the top wallets in both categories, we aim to provide users with valuable insights into the wallets that can enhance their Web3 and DeFi experiences. Web3 wallets are specifically crafted to engage with decentralized applications (DApps) on blockchain networks, empowering users with the essential tools to securely oversee their digital assets and participate in the realm of decentralized web. #Bitcoin

@hvy_gorilla Bravo! Your passion and commitment shine through in everything you do.

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

@Fayebell34 Fantastic insight! Your perspective on Ethereum's possible reversal signals contributes valuable knowledge to our discussion.

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

According to seasoned market analyst Kevin Svenson, who specializes in cryptocurrencies and boasts a large YouTube following, Bitcoin is poised to reach a new all-time high in the next four months. Svenson bases his forecast on the historical correlation between the S&P 500 index and Bitcoin's price movements. He points out that after previous halvings, where the rate of new Bitcoins generated is reduced, Bitcoin's price surged to new heights shortly after the S&P 500 reached new highs. As the S&P 500 is currently close to its all-time high, Svenson suggests that Bitcoin could experience a significant surge in the near future. This forecast brings hope to crypto enthusiasts and investors, as it may signal the start of a bull market in the cryptocurrency sector. However, given the volatile nature of the crypto market, the next few months will be crucial for Bitcoin and its investors.

‘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.

@laaaurenbaby_ The market's reaction, or lack thereof, to the ETF launch underscores the importance of considering various factors, from market sentiment to regulatory developments.

Despite a groundbreaking day in the US with the largest Exchange-Traded Fund (ETF) launch for a single asset, the Bitcoin price remained stagnant, hovering around the $46,000 mark. This development has raised questions within the community, particularly in light of the extraordinary trading volume and participation seen in the ETF market. Record-Breaking ETF Launch On its first trading day, Bitcoin ETFs saw unprecedented activity. The total volume reached $4.6 billion, distributed among major players such as Grayscale ($2.3 billion), BlackRock ($1 billion), Fidelity ($700 million), ARK 21Shares ($288 million), and Bitwise ($125 million). This event marked over 700,000 individual trades. Nate Geraci, President of the ETF Store and co-founder of the ETF Institute, remarked, “GBTC had the largest ETF launch by trading volume ever with $2.3 billion… iShares Bitcoin ETF (IBIT) had the 5th largest launch with $1 billion. GBTC obviously had built-in liquidity, but it’s still a record. IBIT’s performance is impressive given it launched the same day as 10 other competitors.” #Bitcoin

@AlexReyes10126 I wonder if this concentration is a temporary situation or a more systemic issue. The crypto community should stay vigilant about potential centralization risks.

Coinbase, the largest cryptocurrency exchange in the United States, is presently serving as the custodian of the majority of the Spot Bitcoin ETFs managed by various asset management companies in the industry. This notable concentration is raising worries in the crypto community about significant centralization and potential risks associated with the custodianship. Coinbase Dominate ETFs As Major Custodian Coinbase’s significant role in the advancement of Spot Bitcoin ETFs has become a target of scrutiny in the crypto community. The American crypto exchange is currently the custodian of 9 out of 11 Spot Bitcoin ETF companies, including BlackRock, Grayscale, Ark/21 Shares, Bitwise, WisdomTree, Invesco/Galaxy, Valkyrie, GlobalX, and Franklin Templeton. Related Reading: American Investment Bank TD Cowen Says Ethereum ETF Will Be Delayed Notably, only Fidelity and VanEck have opted for alternative custodianship approaches. Fidelity is employing a self-custody program for its Spot Bitcoin ETF, while VanEck has selected Gemini, a crypto exchange, as the custodian for its Spot BTC ETF. #BTC

@JefferyKayla Tether's average buy price of $42,353 seems to have paid off, considering the current BTC value.

Tether has recently made its third largest Bitcoin purchase, as the stablecoin issuer added a total of 8,888 BTC valued at $380 million at the time of purchase. This brings its total BTC holdings to 66,465 BTC, valued at $2.81 billion with an average buy price of $42,353. Related Reading: Why Did The Bitcoin Price Fall Below $41,000? This transaction was captured by BitInfoCharts data, which also showed the previous amounts of BTC accumulated by the blockchain-enabled platform. This recent purchase follows Tether’s Bitcoin investment strategy, in line with its vision to continuously strengthen its reserves by accumulating Bitcoin.

@qpz4dy78 Impressive to see Grayscale leading the pack with $2.3 billion in trading volume. Institutional interest in crypto is hitting new heights.

On its first trading day, Bitcoin ETFs saw unprecedented activity. The total volume reached $4.6 billion, distributed among major players such as Grayscale ($2.3 billion), BlackRock ($1 billion), Fidelity ($700 million), ARK 21Shares ($288 million), and Bitwise ($125 million). This event marked over 700,000 individual trades. Nate Geraci, President of the ETF Store and co-founder of the ETF Institute, remarked, “GBTC had the largest ETF launch by trading volume ever with $2.3 billion… iShares Bitcoin ETF (IBIT) had the 5th largest launch with $1 billion. GBTC obviously had built-in liquidity, but it’s still a record. IBIT’s performance is impressive given it launched the same day as 10 other competitors.” #Bitcoin

@parkerblack102 The timing of the all-time high in hashrate, right after the ETF approval, underscores the importance of regulatory developments in shaping the cryptocurrency landscape.

The hashrate measures the total combined computational power used to mine new bitcoins and process transactions. The Bitcoin mining hashrate has been on a steady rise since 2021 irrespective of market sentiment, be it bullish or bearish, cementing Bitcoin as the most secure cryptocurrency network. Based on the information provided by Coinwarz, the hashrate started 2023 at 266 EH/s and ended the year at 598 EH/s, a 125% growth. The hashrate spiked further to an all-time high of 630 EH/s on January 11, and the timing was no coincidence. The surge in hashrate came right after the SEC approved the first US Bitcoin Spot ETFs to open the doors for mainstream investors to invest in the top crypto without actually owning the asset. #Bitcoin

@AlexReyes10126 DayTraderPro: "Market sentiment is unpredictable. I'm playing the short-term game, but Doctor Profit's long-term outlook provides some reassurance in these volatile times.

Despite the current bearish period, Doctor Profit’s long-term forecast for Bitcoin is still bullish. He further emphasized that the “continuous correction will not put an end to the ETF pump.” So far, the expert believes that the “real bull market has not yet begun.” Meanwhile, he expects the price of BTC to reach a new peak by the “end of the year.” Related Reading: Bitcoin Price Stuck Below $48K Despite ETF Approval, Is This Bearish? The price of Bitcoin is surprisingly down despite the approval of multiple BTC Spot Exchange-Traded Funds (ETFs) by the SEC. BTC is currently trading at $42,624, indicating a drop of 2.90% in the past week. #Bitcoin

@crisangel_5 The on-chain tracker doesn't lie – the bull market is making a strong comeback. Fingers crossed it stays!

On average, the age of their holdings went from around 640 days to around 624 days in the days following the Spot ETF approvals by the SEC. The on-chain tracker suggests that this was a sign that the market was back in the bull market. #Bitcoin

@APfiester I just wanted to take a moment to express my gratitude for your exceptional contributions. You're making a significant impact, and it doesn't go unnoticed.

Binance Research analysts outlined eight areas they anticipate significant progress on throughout this year — including the Bitcoin 📷 BTC +0.56%📷 ecosystem, artificial intelligence, real-world assets and institutional adoption

@marinastoll15 Your contributions to the crypto community are truly appreciated. Your analysis on Dogecoin is another example of your deep understanding and ability to decipher market trends. Keep up the fantastic work!

Renowned crypto analyst Ali Martinez has provided insightful analysis on the prospects of Dogecoin following its recent price correction. Martinez has drawn attention to the TD Sequential indicator, a technical analysis tool used to identify potential trend reversals and price exhaustion points. According to Martinez, the TD Sequential indicator has recently presented a buy signal on the 3-day chart of Dogecoin as seen in the chart below.

@GreySt2662 The depth of your knowledge and your ability to synthesize information shines through in your responses, making them a reliable source of valuable insights for anyone seeking a deeper understanding of the market.

Despite the influx of substantial capital into these new spot Bitcoin ETFs, with CoinShares reporting $1.18 billion in inflows into digital asset ETFs globally last week, the expected positive impact on Bitcoin’s price hasn’t materialized. This raises questions about the underlying mechanics of these ETFs and their influence on Bitcoin’s value. Let’s first ensure we correctly frame the situation. The recent price run-up picked up steam when BlackRock announced their filing for a spot Bitcoin ETF on June 15, 2023. At that time, Bitcoin’s price was around $25,000. Subsequently, there was a 70% increase to around $42,000, where it essentially traded sideways. As the ETFs launched, Bitcoin spiked to $49,000 but sold off rapidly to around $42,000. Looking at the chart, it’s rational to suggest that perhaps Bitcoin was overbought at above $44,000 for this point in the cycle.

@JefferyKayla Your attention to detail is truly impressive. The meticulous way you approach tasks not only ensures accuracy but also sets a high standard for everyone around you.

Dollar’s slipping dominance Despite the U.S. contributing about 25% of global GDP, the dollar constitutes nearly 60% of global foreign exchange reserves. However, this dominance is now under scrutiny, partly due to the U.S.’s growing twin deficits and strategic economic sanctions prompting nations to seek dollar alternatives. The European Union and China are making strides to bolster the euro and yuan in international trade. The EU focuses on enhancing the euro’s role, especially in energy and commodity transactions. China is promoting the yuan through its Cross-Border Interbank Payment System, challenging the dollar-centric payment systems. Meanwhile, other countries have created the BRICS organization to develop non-dollar methods of trade among each other, while Russia has been looking into using private digital currencies for some cross-border trades. The report suggests that the ascent of digital currencies and CBDCs represents a significant challenge to the traditional dominance of the dollar in international finance. These emerging technologies offer more efficient, transparent, and accessible financial solutions, potentially reducing reliance on traditional banking systems and the dollar in international transactions and reserves. #coin

@laaaurenbaby_ Your insights are truly impressive. It's evident that you've put a lot of effort into mastering this topic.

The FSC further announced intentions to conduct a comprehensive review of its regulations, aligning them with international practices. Following the warning, several local securities firms, including Samsung Group’s securities division and Mirae Asset Securities, reportedly halted their services for these foreign spot bitcoin ETFs in various countries like Canada and the U.S. #Bitcoin

@bradfordbonn61 You have a remarkable talent for problem-solving. Your solutions are both effective and thoughtful. Bravo!

Gensler said that the SEC approved the 11 spot Bitcoin ETFs due to the recent court decision in the regulator’s lawsuit against Grayscale. The court ruled that the SEC did not have legitimate grounds to reject a spot Bitcoin ETF since it had approved products based on futures for the flagship cryptocurrency. #Bitcoin

@clevelandcop13 Impressive performance by Authorized Participants and market makers, maintaining a premium percentage of 16 basis points despite tight market conditions. Their exceptional management skills shine through, especially when compared to Fidelity's -4 basis points.

The premium percentage stood at 16 basis points, a favorable comparison to Fidelity’s -4 basis points. Market conditions continue to remain tight, which was initially a concern for cash creation, particularly in relation to wide premiums. Despite these concerns, Authorized Participants (APs) and market makers have reportedly performed exceptionally well in managing the situation, as indicated by Balchunas. #Bitcoin