On-chain activity tells a lot when it's about making your investment decision. With the on-chain activity you can find out that 1. how many total users are interacting on a specific network. 2. how many transactions are going on for a specific network. 3. how much total value locked for each network/protocol on each platform. 4. Is the activity goin up or down. 5.how much borrowing/lending is going on over there. so many more...
The on-chain lending is when someone lend his/her crypto to other users and in return get a specific amount as interest. There are plenty of platforms where you can lend or borrow like Aave, Compound etc.
SolvBTC Megadrop and Web3 quest is going on so participate in and get your share of reward. For those who don't know what is SolvBTC continue reading The Solv Protocol is a decentralized platform designed to simplify and optimize Bitcoin staking. It aims to integrate Bitcoin more deeply into the decentralized finance (DeFi) ecosystem by providing yield opportunities while preserving liquidity.
Here are some key features of Solv Protocol:
Staking Abstraction Layer (SAL): This modular framework coordinates all aspects of Bitcoin staking, including validators, yield distribution, and liquid staking tokens (LSTs).
SolvBTC: A reserve token representing staked Bitcoin, which can be moved across blockchain networks like Ethereum, BNB Chain, and Solana.
Liquid Staking Tokens (LSTs): These tokens provide liquidity without fluctuations in value and can be traded, lent, or used as collateral across DeFi platforms.
Proof of Reserves: Ensures that all assets are backed 1:1 by Bitcoin or equivalent reserves, verified through audits by leading firms.
By streamlining the staking process and providing cross-chain liquidity, Solv Protocol aims to unlock the potential of over $1 trillion in Bitcoin assets
Many will look at the prices plunging into the ground but if you zoom out and see the bigger picture you will notice that over the years Bitcoin generally goes up with some periods of downward momentum. So focus on bigger time frame and have less stress.
The crypto market is in full swing and has retraced. and has come back up a bit but this pull back may take a little longer. in my case DCA is a good option here. I'm not in a hurry to buy chunks but doing DCA so that I get average good.
The Bitcoin dominance chart has piers through a significant resistance level of 58% and the next resistance is at 60%. If Bitcoin closes the weekly candle below 60% then its a bit bullish for altcoins. And if it closes below 58% dominance then I would be a hell of a move for altcoins.
do your own research before making any investment.
Many crypto degens are anticipating more bullish momentum in Altcoins than Bitcoin but unless $BTC dominance weekly candle close below 52 Bitcoin could regain it's momentum leaving all altcoins behind. So keep an eye on the BTC.D chart for further decisions.
Bitcoin would perform very well if it closes the month above 90k but if it closes below the 90k level there is a chance of bigger correction. so watch out for the 90k level at the end of the month.
Bitcoin is now back above 100k psychological level and is showing a strong bullish momentum. If you study the previous bull runs you would notice that once the Bitcoin closes a monthly candle above it's previous bull market high then it also goes up for a few more months.
Airdrop is a "go to" path for the crypto projects now a days but most of the airdrops are useless they give you the amount of tokens so small that it's nothing and it's just a waste of time. But some of the projects do give a reasonable amount of tokens. So do your research before participating in an airdrop. #Zircut is a good project and it's running it's 3rd phase of airdrop.
The year 2024 is going to end and it has been awesome for most of the players who traded altcoins in Quarter one or just held $BTC in their portfolio. For margin/futures traders it was not a good year as their were record liquidations in this year. Some of you who are trading Altcoin now are most probably in profit. Don't forget to take some profits even if I also believe this gaining streak will last longer.
In the current cycle almost everyone is bearish on the mighty Ethereum but keep in mind that $ETH is the only Blockchain that has most developer and development activity on the Blockchain. It has a wide range of narrative and domains in the whole crypto space. It's the second largest crypto Asset and is second to none in Altcoin space. Personally I think it is the right time to swap Bitcoin to ETH for greater returns.
you are right but we are in a market condition where technical analysis don't do well anymore.
Coin Breakdown
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Bullish
If you don't want to lose your small investment amount then don't do future or margin trading. just buy any coin or coins all gonna do well in #altsesaon . Not a financial advice of course.