The total cryptocurrency market capitalization (TOTALCAP) and the price of Bitcoin (BTC) have moved above their respective corrective patterns and are approaching new yearly highs.

Bankrupt cryptocurrency joint venture Three Arrows Capital (3AC) has made a comeback, launching a new version called 3AC Ventures. They have also introduced the OPNX exchange, with its native token being OX.

Bitcoin (BTC) price breaks out of corrective pattern Similar to TOTALCAP, the price of Bitcoin has broken out above a descending parallel channel on June 20th. The increase occurred rapidly, pushing BTC towards the $30,000 resistance level and moving slightly above it. BTC is only $200 away from reaching a new yearly high.

With the breakout above the channel, the corrective process may have completed, and a new uptrend could be underway.

If the upward momentum continues and a breakthrough occurs, BTC could reach $35,000.

However, if the price gets rejected, it could retest the channel's resistance line around $27,200.

Total cryptocurrency market capitalization (TOTALCAP) reaches crucial resistance TOTALCAP has been declining since reaching a yearly high of $1.26 trillion on April 14th. The decline has been contained within a descending parallel channel, which is considered a corrective pattern. Therefore, a final breakthrough from it is the most likely scenario.

On June 15th, the price bounced off the $980 billion support zone and started moving upwards. On June 20th, it broke out above the channel. It reached the resistance level of $1.15 trillion on June 21st.

If a breakthrough occurs, a move towards $1.30 trillion and a new yearly high would likely take place.

However, if TOTALCAP gets rejected, it could test the channel's resistance line at the $1.05 trillion level, confirming it as support.

$BTC #BTC #bitcoin #uptrend #Binance

Bitcoin (BTC) has experienced a strong increase in price since hitting a local bottom on June 15th. It is poised to break out of a nearly three-month-long consolidation pattern.

Despite this upward movement, the wave count indicates a continuing downward trend. Therefore, another significant decline may occur after the completion of the relief rally.

Descending parallel channel Technical analysis from the daily timeframe shows that BTC has been declining within a descending parallel channel since the beginning of April. Such channels are considered bullish patterns, so a breakout above the channel is the most likely scenario in the future.

On June 15th, BTC rallied (green arrow) at the confluence point of support levels around $25,000. This zone is formed by the 0.382 Fibonacci retracement level and a horizontal support area. Due to this confluence, it is an important support zone. Since the rally, BTC has moved above the midline of the channel.

The RSI (Relative Strength Index) is a momentum indicator used by traders to assess whether the market is overbought or oversold to determine whether to accumulate or sell an asset. Readings above 50 and trending upwards indicate a favorable buying bias, while readings below 50 indicate the opposite. While the RSI is below 50 but trending upward, it is a sign of a neutral trend.

Furthermore, the indicator has been oscillating freely above and below 50 since April 20th (marked). This is also considered a sign of an uncertain trend.

What do the wave counts show? Elliott Wave Theory and Fibonacci levels suggest a higher probability of price decline. Although there are still two possibilities, both indicate that the price has not yet reached the bottom.

Technical analysts use Elliott Wave Theory as a tool to identify long-term price patterns and investor psychology, helping them determine the direction of a trend.

The primary wave count indicates that BTC has been undergoing a corrective structure within the W-X-Y (black color) since late May. If correct, the current price action is in wave Y, which is the final wave before a price reversal.

There is confluence of three support levels near $23,300, making it a likely end for the correction.

First, the $23,300 region coincides with the 0.5 Fibonacci retracement level (white color). Next, the low near $23,300 would provide a 1:1 ratio for the W:Y waves. Finally, this zone aligns with the support line of the channel.

The alternate wave count indicates that BTC has completed a leading diagonal wave from the April high. While the pattern is completed, the leading diagonal is part of a larger structure, potentially being either an A wave or the first wave of a downward impulse.

As a result, this wave count suggests a short-term recovery in price. However, after the completion of the relief rally, another significant decline is expected, potentially reaching at least the $23,300 support zone and possibly lower towards $21,000.

Despite this bearish projection, a move above the yearly high at $31,000 (red line) would indicate a continuing upward trend. In that case, a move towards $40,000 would be the most likely scenario in the future.

#BTC $BTC #bitcoin #Binance

The price of BNB (BNB) has broken down below an ascending triangle pattern, and it may continue to decline in the near future.

Ascending triangle pattern: The price of BNB has been trading within an ascending triangle pattern since May 2022. This is a bullish pattern that often leads to a breakout in most cases. However, the price of BNB has failed to break out twice since then (highlighted in blue ellipses). This indicates a lack of buying pressure at higher levels.

Indeed, after two failed attempts, the price of BNB finally broke down below the triangle last week with a large bearish candle. Invalidating a bullish pattern is usually followed by a sharp decline as it is seen as a bull trap.

A measured move equal to the height of the pattern when connected to the breakout point would bring the price of BNB down to around $104, representing a decrease of over 50% from the current level.

The weekly RSI indicator supports the possibility of further decline as it dropped sharply below the 50 level and slopes downwards.

Short-term outlook: The 4-hour RSI indicator has formed significant bullish divergence within the oversold territory and broke above its resistance line. This suggests a short-term recovery may occur.

If so, the price of BNB could rise to the previous horizontal support area at $265.

However, the 4-hour candlesticks are predominantly bearish engulfing candles with high trading volume. This indicates that the bearish side has been in control of the market.

Therefore, this could be seen as a dead cat bounce, and the price of BNB could reverse at minor resistance levels at $240 and $254.

Conclusion: The most likely prospect suggests that the price of BNB will continue to decline in the near future. The most plausible target found is at $104.

#BNB $BNB #Binance #priceanalysis

Recently, the cryptocurrency industry has experienced a lot of volatility, with some assets facing more losses than gains. Cardano [ADA] has been part of the old guard for quite some time.

However, in a recent development, this altcoin has seen a strong surge. At the time of reporting, ADA was trading at $0.2828 with a daily gain of 5.38%. This comes after a difficult week where the altcoin dropped by 24%.

The hourly price chart of ADA is filled with bullish signals. At the start of the day, the MACD line slowly crossed above the signal line, continuing the bullish crossover. Additionally, the Relative Strength Index (RSI) reveals that buyers have returned to the ADA market. As seen in the chart, the asset was heavily sold off over the weekend. This trend marks a significant turnaround.

Furthermore, ADA has garnered significant attention and popularity, emerging as one of the top trending searches on LunarCrush. The recent surge of the asset has caught the interest of many in the cryptocurrency community and beyond.

Here's what has contributed to the growth of ADA: The sudden price increase in Cardano may be attributed to recent statements by Input Output Global and Charles Hoskinson. Cardano got embroiled in a lawsuit initiated by the Securities and Exchange Commission (SEC), leading to Robinhood delisting Cardano along with Solana [SOL] and Polygon [MATIC].

The SEC considers these assets as securities. The SEC's stance on ADA has been challenged and refuted by Charles Hoskinson and IOHK, which may have contributed to the asset reversing its downward trajectory.

Despite the usual divisions within the cryptocurrency community due to various networks, there has been an increasing sense of unity in the fight against the SEC. In a notable turning point, Charles Hoskinson actively sought reconciliation with the XRP community, signaling a readiness to come together for a common purpose.

$ADA #ada #cardano #adausdt #priceanalysis

Ethereum Classic (ETC) is a cryptocurrency that has been present in the market for a long time. Its platform allows you to create and use contracts and smart applications without disruption, fraud, or control from others.

Ethereum Classic is based on the original Ethereum blockchain, which was split due to the DAO hack in 2016. Additionally, Ethereum Classic has become popular among investors and traders due to its unique features and development potential.

In this article, we will analyze the future of Ethereum Classic and provide a price prediction for June 2023.

Factors influencing the price of Ethereum Classic Several factors influence the price of Ethereum Classic, including:

Market sentiment Market sentiment plays a crucial role in determining the price of Ethereum Classic. If investors and traders have a positive outlook on the future of ETC, the price may increase. Conversely, the price may decrease if there is negative sentiment.

Supply and demand The law of supply and demand is a fundamental economic principle applied to cryptocurrencies. The price may increase if there is high demand for Ethereum Classic and limited supply. Conversely, the price may decrease if there is low demand and high supply.

Network upgrades Ethereum Classic is an open-source platform continually upgraded to improve its functionality. Network upgrades can impact the price of Ethereum Classic as they can enhance the platform's performance and attract more users.

Competition The cryptocurrency market is highly competitive, and Ethereum Classic faces competition from other cryptocurrencies like Ethereum, Bitcoin, and Litecoin. If Ethereum Classic can outperform its competitive counterparts, it has the potential to attract more investors and traders, which can increase its price.

Price prediction for Ethereum Classic in 2023 Experts predict that Ethereum Classic (ETC) will reach an average price of $16.64 in June 2023. The projected lowest and highest prices are $16.12 and $17.15, respectively.

Price prediction for Ethereum Classic in 2024 Analyzing patterns of Ethereum Classic, experts predict that the cryptocurrency may reach a minimum price of around $31.86 in 2024. The expected maximum price is around $38.17. The average trading price could be $31.99 in 2024.

Should you invest in Ethereum Classic? Based on our analysis, we believe that Ethereum Classic has significant growth potential in the coming years. However, like any investment, there are inherent risks involved. Conduct thorough research and seek the advice of a financial advisor before making any investment decisions.

Conclusion In conclusion, Ethereum Classic (ETC) has significant potential for the future. With its decentralized platform, unique features, and growing community, it has gained popularity among investors and traders.

Factors such as market sentiment, supply and demand dynamics, network upgrades, and competition all contribute to its potential price movements.

Furthermore, while it is not possible to predict the exact price of Ethereum Classic in June 2023, cryptocurrency experts indicate positive growth trends.

However, individuals should conduct thorough research and exercise caution when making investment decisions in the market.

Ethereum Classic remains an attractive cryptocurrency to monitor as it evolves and shapes the future of decentralized applications and smart contracts.

$ETH #ETH #Ethereum

Ryoshi Plaza of Shiba Inu Metaverse is expected to be announced soon. Recently, the Shiba Inu team has revealed an upcoming teaser of the Plaza, which is considered the "beating heart" of SHIB: The Metaverse.

Along with other details, an image was also attached showcasing "inspiring beauty and rich cultural reference materials" to attract users to "converge in perfect harmony." In fact, everything is set to immerse users in the "vibrant essence of Japan's bygone era."

William Volk, the Alpha Director at Shiba Inu Games, reacted to the aforementioned development on Twitter. He declared that Ryoshi Plaza is perhaps the "most exciting thing" he has ever been involved with.

https://twitter.com/william_volk/status/1666860662553993216

Shiba Inu Metaverse Advisor Marcie Jastrow emphasized that this part of the metaverse is quite special. In fact, she further asserted that the Plaza will not be unveiled until everything is completed and polished. Specifically, she tweeted:

"This is.....special and perhaps not something we'll reveal until it's perfect - in fact, we'll take a lot of time to show respect for Ryoshi - The Vision, ShibArmy."

The Shiba Inu team has also recently unveiled another significant pillar of the Metaverse, namely the Game Builder. Notably, the Game Builder is a development tool with physics-based components. When using it, users can create "unique and engaging" game experiences using 3D models, game logic objects, and game templates. According to the team, the intuitive Drag-and-Drop interface will allow for flexible and easy manipulation. This will make the game creation process "effortless."

#shibaInu #shiba #memecoins #SHIBA

The price of SingularityNE (AGIX) has broken down below a significant horizontal support level and confirmed it as resistance. It may continue to decline in the future.

Key Support:

The price of SingularityNE (AGIX) has been declining since reaching an all-time high of $0.666 on February 8th. During this process, it has bounced off the $0.320 support level twice (blue arrows) but failed to create higher highs. This is a sign of weakness, indicating a lack of buying pressure at higher levels.

Indeed, the price has broken down below the $0.320 support level and confirmed it as resistance twice (red arrows), marking the continuation of the downtrend.

Therefore, AGIX price is likely to continue its decline towards the next significant support level at $0.170, representing a decrease of over 33% from the current level.

The daily RSI indicator supports this possibility as it declines back below 50 and slopes downward.

Short-Term Outlook:

The 4-hour chart shows that the AGIX price has broken down below a short-term rising support trendline and confirmed it as resistance on June 7th (red arrow). This indicates that the short-term corrective phase has ended.

Therefore, the AGIX price is likely to decline towards the next support level at $0.225, marking a 100% retracement level.

Conclusion: The most probable outlook suggests that the AGIX price will continue to decline in the near future. The nearest target is $0.225 and potentially lower towards $0.170.

You can check the prices of other cryptocurrencies here.

Disclaimer:

This article is for informational purposes only and should not be construed as investment advice. Investors should conduct thorough research before making any investment decisions. We are not responsible for any investment decisions you make.

#coin #AGIX #AGIXUSDT #trending

Solana has approved the new v1.14 update for its validator software. After the majority of network users decided to upgrade to the new version on May 22nd, v1.14 has been considered widely supported.

The good news is that the latest network update has been accepted by over 97% of Solana validators, as stated in a tweet by SOL.

New Upgrade Features

According to the official announcement, version 1.14 introduces several highly anticipated features on the Solana blockchain.

With the help of this release, Solana developers can collect fees from recent settled transactions and use that data to estimate future transactions. This functionality will also assist developers in utilizing full local fee markets that will be added in future updates.

The new update also brings changes to Solana's staking program. If approved by the validators' governance, this release will provide a platform to enforce minimum required stake delegation and introduce new RPCs for accessing existing minimum stake delegation.

The update also relates to memory caching optimizations.

It's interesting to note that the number of SOL stakers has grown exponentially over the past week. According to Staking Rewards, the number of SOL stakers has increased by over 1,800% in the last 7 days.

SOL Price Chart Turns Green In addition to the validators,

SOL investors have also had a comfortable week, evident in the price action. According to CoinMarketCap, the price has increased by over 6% in the past 7 days.

At the time of writing, it is trading at $21.09 with a market capitalization of over $8.3 billion. The price increase has also helped SOL gain popularity as social volume has risen.

Sentiment surrounding SOL has also shifted positively on May 29th, 2023, but then the weighted sentiment decreased.

This suggests that SOL's price will continue to rise Observing the daily chart, most market indicators support the bullish case. For instance, the MACD indicator clearly shows a bullish price advantage.

Solana's Chaikin Money Flow (CMF) is increasing, further bolstering the likelihood of price continuation. However, the Relative Strength Index (RSI) has chosen a different path and diverged, which could lead to some complications.

#solana #sol #update #priceanalysis

More than 386 million Optimism (OP) tokens - worth $587 million at current prices - are scheduled to be unlocked on May 31st as part of the initial distribution phase for early contributors and investors, raising concerns about price pressure.

Unlocking OP on May 31st is one of the largest scheduled unlocking events this year. With the current circulating supply only at 335 million OP, tomorrow's event could increase the circulating supply by over 100%.

According to analysis from the token unlocking research firm Unlock Calendar, it is reasonable to expect that the unlocking of Optimism will create significant selling pressure on the original OP token, primarily from early-stage investors who have earned substantial profits.

The largest seed investors in Optimism include cryptocurrency venture capital firms Paradigm, Andreessen Horowitz (a16z), and IDEO CoLab Ventures. According to data from CryptoRank, the participating investors in the Seed round - Paradigm and IDEO - are currently making profits of over 10,000% compared to their initial investments.

However, it appears that the average purchase price for the venture capital firms is around $0.24, meaning that they are currently experiencing a combined increase of 529%.

Token unlocking events are scheduled events in which tokens are allocated to early-stage investors and key development contributors are "released" after being locked for a certain period of time. Cryptocurrency projects typically ensure that tokens are "locked" to avoid mass sell-offs during periods of low liquidity, which can significantly impact prices negatively.

Optimism is a layer 2 scaling solution designed to make transactions and operations on the Ethereum network faster, cheaper, and more efficient. OP is the governance token of the Optimism network.

On June 1st of last year, Optimism conducted its first airdrop, distributing OP to nearly 250,000 addresses belonging to early network users. On February 9th, 2023, the second major airdrop took place, distributing over 11 million OP to 307,000 unique addresses.

While the airdrop events caused a surge in transaction activity in the short term, the price of OP has generally been on a downward trend over the past few months.

OP is currently trading at $1.52 after a nearly 10% drop in the past day. The token has decreased by 53% from its all-time high of $3.54, which it reached on February 24th, 2023.

#OP #Optimism #usd

The cryptocurrency market has been quite volatile in the past few weeks, experiencing sudden but gentle fluctuations that have left the community wanting more. Among the projects affected, the Shiba Inu community has had to face significant losses.

Data provided by IntoTheBlock shows that 81% of SHIB holders are currently in a loss, with only 15% achieving profits. This data highlights the challenging situation that some SHIB investors have been facing during this downtrend phase.

Despite the ongoing trend of losses, the community still holds hope for brighter days ahead. This optimism has recently been reinforced by PricePredictions, a platform for cryptocurrency price forecasting and data analysis. According to their analysis, Shiba Inu is predicted to end May on a positive and promising note.

Based on the AI-driven predictions, Shiba Inu is estimated to reach a price of around $0.000092 USD on May 31, 2023. It should be noted that AI utilizes various indicators to predict the price of SHIB, including the Moving Average Convergence Divergence (MACD), Average True Range (ATR), Relative Strength Index (RSI), and other indicators.

As of now, the meme coin Shiba Inu is trading at a price of $0.000008491 USD. Based on the above prediction, SHIB may reach a weekly high of $0.000009067 USD in the coming days.

When can Shiba Inu expect a significant price increase? It has been a long time since SHIB has witnessed any substantial price spikes. Those holding SHIB have also embraced the strategy of "hodling." The era when SHIB could create millionaires has passed. However, there are rumors within the Shiba Inu community about the upcoming launch of the Shibarium layer-2 solution in August, which could potentially trigger a price surge for SHIB.

The hype surrounding the Shibarium release could certainly drive up the price of this token. Additionally, the significant scale of future SHIB burns could further enhance the potential for price increases.

#shibaInu #shiba #AI

The price of Solana (SOL) has formed a descending price pattern within a strong resistance zone. It is expected to decline towards the support zone at $15 in the near future.

Weekly Outlook:

The price of Solana (SOL) has been decreasing along with a declining resistance trendline since January 2022. During this process, the price has been rejected by this trendline multiple times and reached its lowest point at $8 in December 2022.

Although the price has recovered strongly since then, it has still been unable to break above the horizontal resistance zone at $27 and the long-term resistance trendline. Instead, it has formed a double top pattern within this resistance zone. This is a bearish pattern that often leads to a reversal of the trend to the downside.

Furthermore, it is accompanied by bearish divergence within the RSI indicator. Therefore, the price of SOL is likely to decline towards the support zone at $15, which is formed by the horizontal support area and the 0.618 Fibonacci retracement level.

Short-term Support Breakdown:

The daily chart also shows a similar bearish scenario as the weekly timeframe. It indicates that the price of SOL has broken down below the minor support zone at $20 and is in the process of confirming this level as resistance (highlighted by the red arrow).

If successful, the price of SOL could further decline towards the next minor support zone at $17.

The RSI indicator supports the continuation of the downward move as it remains below 50 and slopes downward.

Conclusion:

The most probable outlook suggests that the price of SOL will continue to decline in the near future. The nearest target is $17 and potentially even lower towards $15.

#solana #sol #price #Binance

According to CryptoQuant, recent analysis of the fair value of UTxO age bands suggests the possibility of an accumulation phase in the cryptocurrency market in the coming months. An important level to monitor during this phase is $35,000, which indicates a potential turning point for Bitcoin.

There are two notable observations since 0nchain explored these data in-depth earlier today. With a longer-term perspective, the article will apply a technical approach to assess the impact. While the previously excited sentiment about detecting manipulation through Puell Multiple Ordinals spam has been proven unfounded, the "sell in May" narrative seems inaccurate this year.

A breakout prediction above $30,000 was elevated even before the market surpassed the $30,000-$25,000 range. However, such a breakout did not materialize, leading to speculation that influential market players are currently looking to accumulate again.

An important historical pattern to consider is the fair value of the 18-month to 2-year UTxO age band sliding below the fair value of the 2-year to 3-year UTxO age band after bottoming in the cycle. This structure reflects a significant accumulation phase in the past two cycles. Conversely, when the fair value of the 18-month to 2-year UTxO age band surpasses the fair value of the 2-year to 3-year age band after the accumulation phase, it presents an opportunity for early profit-taking.

While indicators such as fair value, LTH SOPR, MVRV, and Puell Multiple have confirmed Bitcoin's cycle bottom, it is still necessary to examine the fair value of the UTxO age bands. Paying particular attention to the 6-12 month age band sliding below the 12-18 month age band and referencing 0nchain's analysis, a potential new emerging pattern will become clearer as the chart contracts.

With these findings, it can be assumed that the accumulation phase is beginning or about to begin, going against the "straight up" scenario initially predicted regarding the prolonged market pain. However, caution should be exercised to avoid excessive price declines solely due to the current debt ceiling issues in the United States.

Considering the current bullish environment, unless there are significant events like disruptions related to Coinbase, further upward oscillations or movements are expected from the current levels.

#BTC #bitcoin #Binance #analysis

The price of SNEK, a memecoin within the Cardano ecosystem, has surged over 200% in the past seven days. Trading at a low of $0.0004 on the previous Monday, SNEK is currently at $0.0017.

A particularly notable increase of 135% was recorded over the weekend, which is interesting considering that market participants were less active, and the market itself was less volatile during that time.

Amidst this price action, SNEK has climbed to the 4th position in the ranking of the largest tokens within the Cardano ecosystem. It currently has a market capitalization of 83.33 million ADA, equivalent to $30.7 million, according to TapTools. SNEK is only $2 million away from the 3rd position.

The achievement of SNEK is even more remarkable when you discover that the token hasn't even been in existence for a month. The project literally emerged on April 30th at the peak of the memecoin craze sparked by Pepe Coin (PEPE).

The fundamental concept behind SNEK, self-proclaimed as the "most exciting memecoin on Cardano," is community-building and the development of decentralized finance within Cardano.

Despite not having a clear roadmap or any significant publicity, considering SNEK's success in just one month, the new memecoin has been warmly embraced by the Cardano community. The viral nature of SNEK has caught the attention of Cardano's creator, Charles Hoskinson, as well.

#memecoin #Meme #cardano #Binance

Although often considered a volatile asset with large price fluctuations, Bitcoin has been trapped in a narrow range for the past few days.

However, all of that could change in the coming days, at least based on similar historical patterns.

In addition to the price drop on May 12 to a two-month low, the recent performance of BTC has been relatively stable. The asset reached its highest level at $27,600 last week and then experienced a significant decline, marking the most notable price volatility in the past ten days or longer. As expected, the 7-day price range of the cryptocurrency has entered rare territory. Glassnode reports that this figure currently stands at 3.4%, which is "one of the tightest ranges in the past three years."

Although rare, this development is not unprecedented. The analytics firm provided a few examples, including one in July 2020 and another earlier this year (January 2023), both of which resulted in significant price fluctuations. After the consolidation period in July 2020, Bitcoin continued to surge, breaking previous all-time highs and establishing new ATHs in the following months. In the example from January 2023, BTC experienced another sharp increase, albeit at a more modest level.

A similar situation occurred in late 2021 and early 2022. However, after that scenario, a significant price decline occurred, pushing BTC from its ATH of $69,000 to below $30,000 within a few months.

Based on these historical patterns, Glassnode suggests that BTC will experience more volatility but cannot predict whether it will rise or fall.

#BTC #bitcoin #Binance

According to a report compiled by @dgtl_assets of Dune Analytics, the total network fees paid for minting Bitcoin Ordinals reached 1.414 Bitcoin (BTC), equivalent to $38.2 million, on May 20th, marking a 700% increase compared to April 20th and an 831% increase since April 1st. An analysis shows that while there is still interest in Bitcoin NFTs, the majority of Bitcoin Ordinals have shifted towards text-based inscriptions, as opposed to the relatively balanced mix of text and image inscriptions from February to April.

According to the explanation from the cross-chain wallet BitKeep, Bitcoin Ordinals "are a numbering system designating a unique number for each individual SAT [Satoshi, or 1/100 millionth of a Bitcoin], allowing tracking and transfer." Combined with the Inscription process, which adds an additional layer of data for each Satoshi, users can mint unique digital assets on the Bitcoin blockchain.

In contrast to traditional NFTs, built on smart contracts and stored on solutions like IPFS, the BitKeep developers explain that "Ordinals reside entirely on the Bitcoin blockchain and do not require sidechains or separate tokens."

In January 2023, Web 3.0 developer Rodarmor released the Bitcoin Ordinal theoretical framework. Additionally, Web 3.0 developer domo created the Bitcoin BRC-20 token standard in March 2023, utilizing both Ordinals and Inscription to create and manage token contracts, mint tokens, and transfer tokens on Bitcoin.

Since then, over 8 million Bitcoin Ordinals have been minted, along with 24,677 BRC-20 tokens created, with a total market capitalization of $612.5 million. On May 20th, cryptocurrency exchange OKX announced the listing of ORDI BRC-20 tokens, the most popular in that portfolio with a market capitalization of over $300 million.

#BTC #bitcoinordinals #bitcoin

Ether holders are urgently staking their tokens with network validators. This has pushed deposit activity to its highest level since the Shapella upgrade last month.

In fact, the total volume of crypto assets being staked has exceeded 20 million.

The latest milestone comes a month after the highly anticipated Ethereum Shanghai upgrade, which has been driving record-breaking Ether staking deposits.

"Just one month since the Ethereum Shapella Upgrade. Since then, the total volume of staked ETH has surpassed the 20 million mark."

Shanghai allowed for the withdrawal of locked tokens in staking contracts for the first time—a significant step following last year's Merge to complete the network's transition from PoW to PoS.

The surge in deposit activity seems to have been propelled by organized staking service providers and reinvestment of rewards after withdrawal.

According to Lookonchain, an Ethereum whale identified as an early participant in the blockchain ICO, has reappeared after being inactive for over two years and staked a massive amount of 4,032 ETH (worth nearly $7.4 million).

Lido Finance is one of the major staking platforms that has gained prominence following the success of Shapella. It allows anyone to stake any amount instead of directly depositing into the mainnet, with a minimum deposit requirement of 32 ETH.

The service deployed its v2 version on May 15 after a successful online vote.

Despite being one of the largest liquidity staking protocols on Ethereum, Lido has only processed 0.42% of the total withdrawal amount so far.

#ETH #Binance #Ethereum

#binancepizza

In 2018, on the eighth anniversary of Bitcoin Pizza Day, a group of cryptocurrency enthusiasts known as the Lightning Network community organized a global event called the "Lightning Pizza Day." The Lightning Network is a second-layer protocol built on top of the Bitcoin blockchain that aims to enable faster and cheaper transactions.

During the Lightning Pizza Day, participants from different parts of the world used the Lightning Network to order and pay for pizzas. They shared their experiences and photos on social media platforms, showcasing the power and potential of the Lightning Network for facilitating microtransactions.

This event demonstrated the progress made in Bitcoin's scalability and usability since the original Bitcoin Pizza Day in 2010. It also highlighted the community's creativity and willingness to come together to celebrate and promote the adoption of cryptocurrencies.

Additionally, if you search for "Bitcoin Pizza Day" on the internet, you'll find numerous memes, images, and infographics that humorously depict the journey of those infamous 10,000 Bitcoins. These visuals often juxtapose the value of the pizzas at the time of purchase with the astronomical worth they would have had in today's Bitcoin prices, resulting in amusing and thought-provoking comparisons.

Overall, Bitcoin Pizza Day has inspired a range of entertaining and creative content that reflects the crypto community's enthusiasm and sense of humor.

#Binance

#feedfeverchallenge

Cryptocurrencies, blockchain technology, and decentralized finance (DeFi) solutions have the potential to significantly impact everyone's daily lives in several ways:

Financial Inclusion: Cryptocurrencies and blockchain technology have the potential to provide financial services to the unbanked and underbanked populations worldwide. With cryptocurrencies, individuals can access financial services, make payments, and store value without the need for traditional banking infrastructure.

Borderless Payments: Cryptocurrencies enable fast and low-cost cross-border transactions. They eliminate the need for intermediaries such as banks and reduce transaction fees and processing times associated with traditional payment systems. This can facilitate international trade, remittances, and e-commerce on a global scale.

Security and Privacy: Blockchain technology provides enhanced security and privacy features compared to traditional systems. Transactions recorded on a blockchain are transparent, immutable, and tamper-proof, reducing the risk of fraud and improving data integrity. This can enhance security and protect personal information in various aspects of daily life, such as online transactions, identity verification, and data management.

Ownership and Control: Cryptocurrencies and blockchain-based solutions give individuals greater control over their digital assets and personal data. Through the use of digital wallets and private keys, individuals can securely manage and control their funds without relying on third-party intermediaries. This can empower individuals to have more ownership and autonomy over their financial resources and personal information.

Decentralized Finance (DeFi): DeFi refers to financial applications built on blockchain technology that aim to provide open and inclusive financial services without intermediaries. DeFi offers various solutions such as decentralized lending, borrowing, trading, and asset management, all accessible through smart contracts. These solutions can enable individuals to access financial services and participate in the global financial system without the need for traditional financial institutions.

Tokenization of Assets: Blockchain technology enables the tokenization of real-world assets such as real estate, art, intellectual property, and more. Tokenization allows fractional ownership, increased liquidity, and easier transferability of assets. This can democratize access to investment opportunities and enable individuals to invest in previously illiquid assets.

Digital Identity: Blockchain-based identity solutions can provide individuals with self-sovereign digital identities, enabling secure and verifiable digital credentials. This can streamline identity verification processes, enhance data privacy, and reduce the risk of identity theft or fraud.

Supply Chain Transparency: Blockchain technology can improve supply chain transparency by recording and tracking the origin, movement, and authenticity of products. This can help ensure the integrity of goods, improve traceability, and enhance consumer trust in the supply chain.

In the past week, Polkadot's NFT ecosystem has experienced significant growth in both transaction volume and partnership relations.

Polkadot recorded a sudden increase in revenue and fees on May 12th. However, this trend may not be sustainable as the graph quickly declined in the following days.

Polkadot has recently been posting its weekly summary on Twitter, highlighting the most notable developments within its ecosystem that have the potential to reshape the landscape.

According to Polkadot's latest tweet, Moonbeam, a Polkadot parachain, has announced the integration of XCM with Equilibrium. This will bring Multichain assets into a balanced state. It will also provide support for cross-chain assets from outside the Polkadot ecosystem.

Furthermore, applications on SubsocialChain can now be used without the need for wallets, tokens, or continuous confirmation.

In addition to the aforementioned updates, several integrations have taken place within the NFT ecosystem of the blockchain.

For instance, Astar Network has announced a collaboration with JR Kyushu, the largest railway network in Japan. With this new partnership, NFTs on Astar Network will provide souvenirs and "driver's license" certificates to 330 million railway passengers annually.

Santiment's chart also indicates a similar growth trend. According to the data, the number of NFT transactions and the USD trading volume on Polkadot have significantly increased in the past week, which seems optimistic.

#polkadot #Binance #NFT

Tether, the company behind the largest stablecoin USDT, is following in the footsteps of MicroStrategy by purchasing BTC for its reserves. The stablecoin issuer plans to enhance its reserves with the help of Bitcoin.

In an announcement on May 17, Tether revealed that they plan to invest a portion of their profits into BTC on a monthly basis. The company stated that they will "regularly allocate up to 15% of its profits to buying Bitcoin."

The announcement came within a week of the company's quarterly financial report, in which the stablecoin issuer reported a net profit of $1.5 billion.

According to a statement from the company, Tether will self-manage all of its Bitcoin holdings. By the end of the first quarter of 2023, it held $1.5 billion worth of Bitcoin, accounting for about 2% of its total reserves. 85% of its total reserves are in cash, cash equivalents, and other short-term deposits, primarily in commercial paper.

Tether stated that BTC is a clear choice as the leading cryptocurrency has proven to be a long-term store of value. The stablecoin issuer cited Bitcoin's massive price increase over the past decade and its resilience in the face of traditional financial failures as factors influencing this decision.

In a statement, Tether's CTO Paolo Ardoino said that the world's first and largest cryptocurrency is bolstered by its potential as an investment asset. He further stated that Bitcoin's limited supply, decentralized nature, and widespread adoption have positioned it as a "preferred choice for institutional and retail investors."

#tether  #BTC