Here are some tips on how to profit and stay profitable in a bull market: How to Profit If you don't take profits, you'll never make money. Choosing when to take profits depends on the type of trade you are making. For small cap coins, you may want to take partial profits before the increase reaches 3-4x. For large cap coins like BTC, you can profit when the increase reaches 2x. If you don't know where to start, start by taking half of your money from the take-profit point and keep doing it. Have a system that you can backtest and tweak to suit your preferences. When to Rotate When you see BTC starting to consolidate after rising, that is the best time to rotate. The logic behind this is that all the avid investors who held on during the rally had more unrealized profits and decided to put their money into altcoins to amplify their gains. You can use indicators such as BTC share, ETH/BTC or TOTAL3 to help you understand where you are in the cycle. Alpha and Beta Operations When a project begins a new narrative, spin-offs and forks are bound to occur. Your decision whether to invest in market leaders or these derivatives depends on the size of your holdings and your risk tolerance. Derivatives will carry higher risk, but if you can get involved early, there will be greater potential for growth. If you have a larger fund, it may be a better strategy to wait for a pullback from the market leader or buy in batches on the dip. Profiting Beyond Cryptocurrencies When you make big profits from trading, take some of it and use it for other purposes. No matter how much you earn there is no point if you are not willing to withdraw the money you have earned in cryptocurrency. In most cases, avid investors end up putting their money back in and losing it. Treat yourself well. Make profits real. Buy on Strength, Not on Weakness When a coin is rising, it’s easy to think you’ve missed your entry and start looking for cheaper coins. But the general rule is that if a project is rising, there must be a reason. Price is the best marketing tool, and if you are unwilling to buy at a higher price because it has gone up, you will miss out on the opportunities that arise in most bull markets.Understand Market Structure You don't need to be an expert in technical analysis to succeed in this field, but you should have a basic understanding of market structure. You should understand basic concepts such as consolidation, uptrends, and downtrends, otherwise you will only be influenced by the mood of the crowd. Don't Overextend Your Risk Tolerance Most people lose money in bull markets because they overextend their risk tolerance in an attempt to pursue more gains. Set a percentage of your entire portfolio that you're willing to risk, and stick to it. Most people invest in 5 different altcoins and consider doing so to provide diversity. No, if the market pulls back, most altcoins will fall with it. Take a break after closing an amazing deal When people win, it's easy to be overconfident and think they'll keep winning. But that's not often the case. Based on probability, you are more likely to lose on the next trade after a good trade. When you're making good money, it's important to take a break and be happy with your profits rather than investing again. Otherwise, you are more likely to make mistakes and become irrationally driven to gain more. No need to participate in every move In a bull market, most of your profits will likely be concentrated on a few projects. Don't feel like you need to catch every move or new play. Focus on making profits, not losing the money you make. Relax and Breathe During a bull market, it's easy to become stressed out about missing out on certain opportunities. If you feel like you can't step away from your screen, give yourself some time and space. A good mentality is necessary in a bull market, and if you don't have one, you need to stop and calm down. It is better to miss some opportunities than lose your principal. #BTC #eth2.0 #ETH：

If ordinals and inscriptions weren’t enough to get a bitcoin maximalist hot under the collar, then the latest use case for the ordinals protocol is sure to trigger a few rage tweets simply by hearing the name alone.

For the last few weeks, monkey and punk jpeg minting has taken up headlines and block space but soon faded as these projects that are easy to reproduce ran out of initial demand and sellers and block space became easy to bid for once again.

Those that claimed inscriptions to be speculative and that they would not hold up as a way to pay for additional miner security budget feel vindicated. But, like a certain sickness, we all had to deal with, it has mutated, and the tech is being used to generate a faux ERC-20 token standard on bitcoin, called, you guessed it, BRC-20 tokens.

What are BRC-20 tokens?

The BRC-20 “token standard: is an experimental fungible token created using Ordinals and Inscriptions and saved on the bitcoin base chain. It utilises Ordinal inscriptions of JSON data to deploy token contracts, mint tokens, and transfer tokens.

This is not a token standard like you’re used to with EVM chains, which create smart contracts that manage the token standard and its various rules, but simply is a way to store a script file in bitcoin and use that file as a way to attribute tokens to satoshis and then allow them to move from one user to another. 

The BRC-20 token was created by Twitter user @domodata on March 8th, 2023. The name is a play on Ethereum’s ERC-20 token standard, but they don’t have the ability to interact with smart contracts like the EVM standard it derivates its name from.  

There is no shortage of ways to create tokens on other chains, all of which have their own markets and exchanges with liquidity where they can be traded. The token market is a vehicle for speculation and scams, and hearing this ERC-20 term might attract these users, and this behaviour might migrate to bitcoin. 

While this may drive demand for bitcoin to pay for fees and take up block space, it could pull unsuspecting investors into purchasing useless metadata that only select wallets even bother to translate into anything worth displaying in a human-readable fashion. Even the creator has noted it’s just an experiment, and the tokens are not intended to be worth anything–though degen speculators may see it differently.

Token terminology can be confusing. 

BRC-20 tokens are not the only used as a naming convention for tokens on bitcoin but also on another forked smart contract chain called Bitgert BRC-20.

This iteration of BRC-20 tokens should not be confused with the token standard created on another obscure forked chain. Bitgert is another EVM chain that initially began life is a token on Binance Smart Chain but thought that it would generate some excitement and investor capital if they were to create their own chain where they control consensus and entice users with lower transaction fees on their centrally controlled chain. 

Bitgert has the BRISE token as a native currency; any tokens built on this chain are referred to as BRC-20 tokens on its BRC20 blockchain, just launched when the market least expected it.

So be careful if you do venture down this path, but in the end, it doesn’t really matter because either way, you’re likely to be scammed out of your money with these meme tokens. 

The first BRC-20 Token (ordi)

The first token contract deployed was for the “ordi” token, with a limit of 1,000 tokens per mint and 21,000,000 tokens total. 

Ordinal wallets such as Unisat were quick to deploy tooling for the BRC-20 standard, and in less than 18 hours, all 21,000,000 ordi tokens had been minted, with pending mints for an additional 1,500,000 ordi tokens that were not within the limit.

Useless data stuffed on-chain with a different name. 

BRC-20 might be an interesting experiment in what you can do with witness data and text files on-chain, but creating a fungible token standard for Bitcoin–with a bunch of flaws doesn’t seem to be a practical long-term solution for any problems we have today or in the future. 

Still, that is not likely to stop the crypto market from throwing time, effort and money at a flawed implementation to see how far they can push it. Like it or not, we are likely to see a lot of tooling pop up to deploy, mint, send, and receive BRC-20 tokens, which could mean another subset of transactions competing for precious block space and interrupting your ability to secure 1 sat/vbyte transactions to secure your cold storage funds or create a lightning channel.

As the Ordinals space continues to attract speculators and evolves, we’re going to see developers push the limits of what can be done with a Taproot transaction. 

Inscriptions and BRC-20 are only the beginning, and while I think these are failed causes from the start, it doesn’t mean someone cannot create profitable pump-and-dump projects for themselves in the short term. 

Token standards that already exist in the bitcoin ecosystem.

Suppose you are serious about creating assets on bitcoin, such as gaming items, vouchers, tickets, or stablecoins backed by a centralised entity, like a company. Then there are already established standards to do that without bogging down the bitcoin base chain. 

AMP assets on Liquid

AMP assets are the token standard for the Liquid Network; users can spin up Liquid Nodes and create their own assets like gaming currencies, in-game items, vouchers etc.

Or work directly with Blockstreams asset issuer for building more complex products like tokenised debt like the BMN or STOs. Once set up and regulatory approval has been covered, users can issue and manage assets on the Liquid Network securely from an intuitive platform in a single, seamless experience.

Taro assets on Lightning 

Taro is a new Taproot-powered protocol for issuing assets on the bitcoin blockchain that can be transferred over the Lightning Network for instant, high-volume, low-fee transactions. An entity could run the code on their Lightning nodes to create these assets and manage the issuance of them, while Taro the protocol allows the asset to run this token/asset standard with security and stability of the bitcoin network and the speed, scalability, and low fees of Lightning.

Pear credit

Pear Credit is a P2P open protocol that allows anyone to issue centralised credit tokens without a blockchain, using cutting-edge Hypercore designs which would be interoperable with bitcoin and the Lightning Network.

RGB network

RGB is a third-layer protocol and smart contract implementation that operates with a client-side validation. All the data is kept outside the bitcoin transactions, such as the bitcoin blockchain or lightning channel states. It allows you to create your own tokens using their token standard RGB-20, which can move on bitcoin and Lightning rails.

What’s next for BRC-20?

While the warnings have already been given, and the creator is already distancing themselves from the viability of the project, you can bet that all this will fall on deaf ears, and there are discords foaming at the mouth thinking up ways on how this can make them some money.

There is already an active community–and builders like Unisat–seem to be running with the BRC-20 standard even though the creator has pointed out repeatedly that it’s just an experiment, it has issues, and the tokens may not be worth anything.

This just goes to show you that tokens were never about the tech but just a way to try and funnel money from the naive to those in cahoots at the base of token issuance operations. 

While the token standard and tooling can be improved to allow non-technical people to enter the space, these token standards are not bitcoin, nor are they safer than tokens on other chains. Just because it’s saved on bitcoin doesn’t mean it’s going to save you or act as savings in the long term.

BRC-20 tokens are rug-pull technology, and rest assured, once a market is made for this bitcoin-saved metadata, you’ll see people selling you overpriced JSON files for bitcoin. 

#eth2.0 #BRC20 #Binance #crypto2023 #BTC

Token Unlocks and Their Impact on Cryptocurrency Prices

Understanding the impact of token unlocks on cryptocurrency prices is crucial for investors and traders. In this article, we will explore the concept of token unlocks, the types of unlocks, and their impact on prices. Additionally, we will take a look at 10 upcoming cryptocurrency projects with significant token unlocks.

What are Token Unlocks?

Token unlocks refer to the release of previously locked or restricted tokens into the market. These tokens become available for trading, buying, and selling after the end of their vesting period. The vesting period is the duration during which the tokens are restricted.

Cliff Unlocks:

Cliff unlocks refer to the release of tokens held in a locked state on a specific date. A certain percentage of the token's total supply is released at a specific date.

Linear Unlocks:

Linear unlocks refer to the release of tokens at a steady fixed rate over a period of time. For instance, a certain percentage of the total token supply can be released per day, week, or month.

Impact of Token Unlocks on Prices:

Token unlocks increase the supply of the particular cryptocurrency, which can lead to a fall in price if the demand remains the same or does not increase proportionally. This is because the recipients of the tokens may choose to sell them, increasing the supply in the market.

Upcoming Projects with Significant Token Unlocks:

Avalanche (AVAX) - A Smart Contract Blockchain with High Transaction Output Avalanche is a layer one blockchain that serves as a platform for decentralized applications and smart contracts. With a transaction output of up to 6,500 transactions per second, it outperforms Ethereum in terms of scalability. AVAX has a fully diluted market cap of $12.5 billion, and 49.81% of tokens are already unlocked. An additional 1.325% of the total supply will be unlocked on May 28th, 2023.

Blur (BLUR) - An Advanced NFT Marketplace and Aggregator Platform Blur is a non-fungible token (NFT) marketplace and aggregator platform that offers advanced features such as real-time price feeds, portfolio management, and multi-marketplace NFT comparisons. Its native governance token, $BLUR, has a fully diluted market cap of $1.89 billion, with 80% of the total supply still locked. The platform will unlock 195,999,999 BLUR tokens (6.5% of total supply), worth $124 million, on June 14th, 2023.

Tornado Cash (TORN) - A Decentralized Privacy Platform Built on Ethereum Tornado Cash is a decentralized, noncustodial privacy platform created on Ethereum. It enables users to deposit and withdraw ERC-20 tokens and ETH with different addresses, enhancing transaction privacy and anonymity. $TORN has a fully diluted market cap of $80,224,042, with 64% of tokens already unlocked. The protocol will unlock 1.8% of its total supply, which is 175,000 $TORN worth $1.4 million, on May 7th, 2023.

LooksRare (LOOKS) - An NFT Marketplace that Rewards Traders, Collectors, and Creators LooksRare is an NFT marketplace that rewards traders, collectors, and creators with LOOKS and other incentives. $LOOKS has a market cap of $106.1 million, with a fully diluted valuation of $130 million. 81.67% of its total supply is already unlocked. The platform will unlock 37,500,000 $LOOKS (3.8% of total supply), valued at $4.8 million, on June 15th, 2023.

Hedera (HBAR) - A Public Distributed Ledger with Native Tokenization and Consensus Services Hedera is a fully open-source public distributed ledger that utilizes the fast, fair, and secure hashgraph consensus. Its network services include Solidity-based smart contracts, as well as native tokenization and consensus services used to build decentralized applications. $HBAR has a market cap of $1.89 billion, with an FDV of $3.03 billion, and 56.89% of tokens already unlocked. On June 1st, 2023, the protocol will unlock 127,353,491 HBAR, worth $77.3 million (2.5% of total supply).

Optimism ($OP): Unlocking 154.6 million tokens worth $335.5 million on May 31st, 2023 Optimism, a layer-two blockchain built on Ethereum, is set to unlock 154.6 million tokens worth $335.5 million on May 31st, 2023. The project aims to scale the Ethereum ecosystem by using optimistic rollups, enabling trustless recording of transactions on Optimism while ultimately securing them on Ethereum.

The Sandbox ($SAND): Unlocking 332.5 million tokens worth $191.1 million on August 14th, 2023 The Sandbox, a virtual Metaverse built on Ethereum, is set to unlock 332.5 million tokens worth $191.1 million on August 14th, 2023. The project allows players to build, own, and monetize their gaming experience in a decentralized manner.

Arbitrum ($ARB): Unlocking 1.1 billion tokens worth $1.5 billion on March 23rd, 2024 Arbitrum, an Ethereum layer-two scaling solution, is set to unlock 1.1 billion tokens worth $1.5 billion on March 23rd, 2024. The project uses optimistic rollups to improve speed, scalability, and cost-efficiency on the Ethereum network.

Apecoin ($APE): Unlocking 15.6 million tokens worth $62.8 million on May 17th, 2023 Apecoin, an ERC-20 governance and utility token used within the APE Ecosystem, is set to unlock 15.6 million tokens worth $62.8 million on May 17th, 2023. The project aims to empower and incentivize a decentralized community building at the forefront of web3.

BitDAO ($BIT): Unlocking 187.5 million tokens worth $93.4 million on May 15th, 2023 BitDAO, one of the world's largest Decentralized Autonomous Organizations, is set to unlock 187.5 million tokens worth $93.4 million on May 15th, 2023. The project's vision is open finance and a decentralized tokenized economy, governed by BIT token holders.

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1/ Bitcoin's BRC-20 token standard is taking the crypto ecosystem by storm, especially with the rise of meme coins like Pepe and Meme. Over 8,500 tokens have been minted using the BRC-20 standard, with a majority being meme coins.

2/ The BRC-20 token standard allows programmers to create and send fungible tokens via the Ordinals protocol on the Bitcoin blockchain. Unlike Ethereum's ERC-20, BRC-20 tokens don't make use of smart contracts and require a Bitcoin wallet to mint and trade.

3/ Since its creation in March 2022, the market cap of BRC-20 tokens has exploded, currently sitting at $120 million, a 600% rise from last week. The number of BRC-20 transactions on the Bitcoin blockchain has also outperformed regular BTC transactions.

4/ However, the rise in BRC-20 transactions has led to a significant surge in transaction fees, generating an additional 286 BTC in fees for miners since late April. The meme coin frenzy has also led to a rise in Ethereum network gas fees and network congestion.

5/ As the popularity of meme coins grows, the rise of Bitcoin's BRC-20 token standard highlights the potential for innovation and experimentation in the crypto space. However, the meme coin frenzy also comes with implications for transaction fees and network congestion.

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Binance exchange, which suspended Bitcoin withdrawal transactions for 2 times yesterday and tonight and then reopened, announced that it will integrate the Lightning Network into the platform.

Following the Ethereum network fees that increased during the PEPE Coin craze last week, Bitcoin network fees also reached the highest level of the recent period yesterday. Shooting requests on the Binance exchange also reached a record high, which led the exchange to stop trading.

After the stop steps at around 18 o'clock last night and tonight, the stock exchange had reopened shooting operations. While the average transaction fees in Bitcoin also go above $ 15, mempool.according to space data, there are more than 421 thousand unapproved and pending transactions on the network. This figure exceeded 500 thousand for the second time when the stock exchange suspended shooting operations.

The Lightning Network is coming

After all this happened, consecutive statements came from Binance. The Stock Exchange announced that it has taken measures to ensure that the same situation does not happen again, that it will monitor on-chain data more closely, and at the same time, work has begun for the integration of the Lightning Network. #Binance #czbinance #BNB #crypto2023 #eth2.0

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