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š Bitcoin is up OVER 115% since actor Ben McKenzie claimed ONE YEAR ago that Bitcoiners didnāt understand scarcity š
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š Bitcoin Transactions Hit Highest Levels in Months Recent statistics reveal a notable surge in Bitcoin (BTC) transactions, reaching a peak not seen in six months. Insights from blockchain analysis firm IntoTheBlock attribute this spike to a rising number of wallets that hold BTC, which has been shared through their social media channels. šø Why Are Bitcoin Addresses Increasing? IntoTheBlock points out that the number of addresses accumulating BTC for under 30 days has been a significant factor in this upward trend. Such a pattern typically signals a bullish market atmosphere. Current developments are being likened to the market behaviors observed during the prosperous years of 2017 and 2020/21. šø What Drives Short-Term Bitcoin Trading? Data suggests that short-term Bitcoin traders are actively participating in the market and boosting their holdings. This trend is generally interpreted as a positive indicator, as these investors seek to capitalize on immediate price movements. Key takeaways from the rising Bitcoin activity include: šŗ Increased short-term trading activity signals positive market sentiment. šŗ A surge in open positions in the derivatives market shows growing investor confidence. šŗ Historical parallels suggest potential upcoming bullish trends, similar to previous market peaks. The latest data offers valuable insights for traders and market participants, indicating a possible bullish trajectory for Bitcoin. Observing these patterns could prove essential for future trading strategies. #BTC #Bitcoin
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š£ Cardano DeFi TVL Shows Unusual Trend As Lace Wallet Gets Revamped During the past few weeks, Cardano has remained in the spotlight amid strong network activity. Current data from DeFiLlama shows that Cardanoās Decentralized Finance (DeFi) Total Value Locked (TVL) has unusually topped $210 million. Cardano notably grew its Total Value Locked gradually over the last few days. Much of this momentum is due to the growing adoption of its hosted decentralized applications. šø Cardano Lace Wallet Upgrade: What Changed? Additionally, the spike in Cardanoās TVL stems from the continuous improvements and updates regularly introduced on the protocol. Regarding updates, Cardanoās light wallet platform, Lace, recently got a facelift. Specifically, the platform released a new iteration dubbed Lace 1.17. A designated Beta team gives interested users access to new features on the Lace 1.17 platform. In return, these users are expected to provide feedback, hoping they will be instrumental in shaping the wallet. The latest release has a Shared Wallet or multi-signature (multi-sig) feature that offers enhanced security. To achieve this feat, the multi-sig wallet requires several authorized entities to approve a transaction before it is complete. Noteworthy, the multi-sig wallet is founded on the premise of enhanced security. It helps protect users against theft, hacks, and other unauthorized access. If a single key is compromised, this cannot put control in the hands of the bad actor. It is an ideal strategy for situations that require collective governance over digital assets. For now, it allows those interested in the beta release to create a shared wallet and add co-signers. Once this is achieved, they can set custom signing conditions directly within Lace. This feature utilizes the CIP-1854 derivation standard to ensure compatibility and robust security. #ADA #Cardano
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āļø XRP Sees Longest Bollinger Bands Squeeze in History, Hinting at Possible Price Explosion XRP may be laying the groundwork for a massive price explosion due to a historical squeeze in its Bollinger Bands. This indicator, which measures price volatility, has shown major patterns in the past that have often led to notable price explosions. Interestingly, the current data suggests that XRP might be on the verge of another big movement. šø XRP Historical Bollinger Band Squeeze For context, in 2016, XRP began a period of Bollinger Bands compression that lasted from August 2016 to February 2017. During this time, XRP was in a consolidation phase, holding within a relatively stable range. Once this squeeze period concluded, XRPās price skyrocketed, marking one of the most impressive price surges in its history. In the months following the squeeze, XRPās value rose dramatically from $0.00555 to an all-time high of $3.31 by January 2018. This marked an increase of nearly 60,000% within a year. After this massive price rise, XRP began to retrace, and by May 2020, another Bollinger Bands squeeze was underway. This squeeze persisted until October 2020, when XRP saw renewed upward momentum. However, XRPās price rally faced a major challenge when the U.S. Securities and Exchange Commission (SEC) filed a lawsuit against Ripple in December 2020. This lawsuit led to a sudden drop in XRPās price, with a 66.97% decline in December following a 177.23% rally in November. Despite the setback, XRPās price did not remain stagnant for long. Following the lawsuitās initial impact, XRP resumed its bullish trajectory and reached a cycle peak of $1.96 in April 2021. This represented a 717% gain from its low point, achieved despite the legal issues. #XRP #Ripple
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š First Capital Outflow From ETFs in the Last 7 Days From 10/23 to 10/31, Bitcoin ETFs saw daily inflows of capital, which in total exceeded $3 billion, but yesterday there was an outflow of $54.9 million. A similar picture was observed from 10/11 to 10/21, when after 7 days of inflow there was an outflow. Bitcoin closed the working week below $70 thousand, but the market sentiment remains optimistic and everyone is preparing for a breakout of a new ATH. šø CNBC reports that investors are buying up bonds and Bitcoin ahead of the US presidential election. āļø Yesterday, two prominent ETF issuers advanced their XRP-based asset initiatives. Grayscale launched trading for its XRP Trust, and 21Shares filed a formal application on XRP ETF. š¤ Microsoft is making a big bet on AI with a $10 billion deal with CoreWeave. #ETF #BTC
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š„ Solana Price Prediction: SOL is eyeing $250 Solanaās priceĀ is showing signs of a potential rally, with a target of $250 on the horizon. November is shaping up to be an exciting month for SOL as it rides a wave of strong on-chain growth and breaks out of a bullish flag pattern. In thisĀ Solana price predictionĀ article, weāll explore whatās driving Solanaās upward momentum, the factors fueling investor optimism, and what it could mean for SOLās price in the coming weeks. šø How has the Solana Price Moved Recently? Solana is currently priced at $166.75, with a 24-hour trading volume of $7.15 billion, a market cap of $78.14 billion, and a market share of 3.30%. Over the past day, the SOL price has dipped slightly by 0.08%. Solana hit its peak on November 6, 2021, reaching an all-time high of $259.52. On the other hand, its lowest point was $0.503701, recorded on May 11, 2020. Since that peak, Solanaās lowest price was $8.12 (cycle low), while its highest recovery since then has been $208.75 (cycle high). Currently, sentiment around Solana remains bullish, with the Fear & Greed Index sitting at 69, indicating a āGreedā market sentiment. Solanaās circulating supply is now 468.59 million SOL out of a maximum supply of 533.68 million. The yearly supply inflation rate is 11.71%, resulting in an additional 49.13 million SOL over the last year. šø Solana Price Prediction: Solana Price is Eyeing $250 Solanaās price is heading towards $250, driven by a blend of network growth and rising user activity that shows no signs of slowing down. Recent data from DefiLlama reveals that Solanaās Total Value Locked (TVL) has surged by an impressive 54% in just six weeks, jumping from $4.77 million to $7.24 million. This boost in TVL is a strong indicator of confidence within the network, as more capital is being invested in Solana-based decentralized applications. When users stake or deploy assets within a platform, it generally points to robust health within the ecosystem. #SOL #Solana
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