Ethereum Supply Increase Impacts Price
The anticipated benefits of Ethereumâs transition to Proof of Stake (PoS) have not materialized as expected, resulting in increased risks following a significant recent update. The feared outcome has arrived, with Etherâs supply chart showing an upward trend, a concerning development for long-term investors. Why is this trend problematic?
đž Why is Ethereumâs Supply Rising?
Ether, the largest altcoin, was expected to see its supply diminish due to the burning mechanism and the PoS transition, driving prices higher. However, this scenario didnât unfold as anticipated. Since April 14, the circulating supply has steadily grown, contradicting the earlier narrative of a shrinking supply pushing spot prices to new peaks.
The rise in circulating supply hinders any potential increase in unit price. The combination of expanding supply and new demand means price hikes are essential. This supply growth also signals weakening network activity. User activity on the Ethereum network, which was around 611,000 on June 22, has dropped by 37% recently.
đž What Does Lower Network Activity Mean?
Daily transactions on the Ethereum network have decreased by 15%, falling from 1.3 million on June 22. With diminished network activity, the amount of burned Ether has also reduced. As the amount of ether entering circulation now surpasses the burn rate, the circulating supply is increasing.
đž Key Inferences
âą Increased Ether supply could deter long-term price growth.
âą Ethereumâs weakening network activity may signal broader issues.
âą Investors might need to adjust their expectations regarding
đž Ethereumâs price performance.
ETH Price Prediction
Despite the ETF approval weeks ago, Ethereum has not performed as expected. The ever-increasing supply suggests that a higher risk appetite among investors is necessary. ETHâs price, currently at $2,720, has dropped by 15% in the past 30 days. Although the Relative Strength Index (RSI) and buy/sell demand are balanced.
#ETH #Ethereum
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đ Exciting Times for $DOGS Holders! đ¶
The Big Reveal: Weâre predicting the DOGS token will list between $0.005 and $0.01! But guess what? Some experts are eyeing a potential leap to $0.01 - $0.02! đ
Hereâs your chance to get in on the action: Cast your vote and let us know where you think the price will land. Will it hit new heights or stay within our range? đ
Factors like market vibes, Telegram buzz, and how well DOGS is adopted will play a huge role in its journey. Dive into the conversation, share your thoughts, and stay ahead of the curve! đłïž
Vote Now and join the excitement!
Remember, crypto investments come with risks. Stay sharp, follow market trends, and make informed choices.
Letâs make history together! đ
#DOGS #PricePredictions #BinanceLaunchpool #DOGSONBINANCE #BNBChainMemecoins
Daily Report for August 27, 2024
https://t.co/U8A2dSxEwn Trends:
âąBTC: Bitcoin experienced a decline, with altcoins generally following suit. The marketâs recent rebound appears to have come to an end.
âąUS Stocks: The U.S. stock market also fell, with tech stocks taking a hit. Investors are concerned that Japan may continue to raise interest rates.
https://t.co/v2IrCI3fvS Highlights:
1.TON Ecosystem: DOGS was listed on BN with a market cap of $700 million. Despite the initial short squeeze, its performance was mediocre. As a meme token, DOGS caused NOT, another token within the same ecosystem, to plummet due to capital outflows.
2.NULS Surge: The token NULS saw a significant price increase, and BN opened a new contract for it. NULS is an older token from 2017.
3.Early Market Leaders Drop: Previous market leaders like RARE and SUN have started to decline. Overall, altcoins are facing a liquidity crunch.
4.Unisat Fractal BTC Plan: Unisatâs Fractal BTC project is set to launch on September 9. 80% of the tokens will be distributed to the community, with 50% allocated to PoW mining. Fractal BTC is a Bitcoin Layer 2 sidechain, and its testnet address count has reached 10 million.
TURNING LEVEL - 4H LONG UPWARD ZONE DOWNWARD ZONe
DOT/TETHERUS Binance
DOTUSDT / 4H TIME FRAME
Tendency, prices is under upward pressure, until trading above turning level at 4.544
Upward Condition: The price is currently experiencing bullish momentum. As long as it remains above the 4.544 turning level, it is likely to move upward toward the resistance levels of 4.881 and then 5.370.
Downward Condition: To reach the 4.255 support level (1), the price needs to first break the turning level by closing a 4-hour candle below 4.544. If it stabilizes below support level (1), a further decline toward support level (2) at 3.894 can be anticipated.
TARGET UPWARD ZONE:
RESISTANCE LEVEL (1): 4.881.
RESISTANCE LEVEL (2): 5.370.
$DOT #DYOR #DOGSONBINANCE #BNBChainMemecoins #TelegramCEO
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đ Exciting News in Crypto! đ
Fractal is set to launch its mainnet on September 9th, marking a major milestone in Bitcoin scaling solutions! đ
**Key Highlights:**
- **Tokenomics:** 80% of tokens for the community, 20% for the team. Breakdown includes PoW mining, ecosystem treasury, and community grants.
- **BRC-20 Tokens:** Activated at block height 21,000.
- **PizzaSwap:** Testnet launch this week, enabling native asset swaps.
- **Bridges:** Bool Bridge and other solutions to facilitate BTC transfers between Bitcoin and Fractal.
Fractal is also expanding wallet partnerships and optimizing support for Bitcoin protocols. Share your thoughts below! đŹ
đ Russia's Crypto Revolution is Just Around the Corner! đ·đș
Hold on tight, crypto enthusiasts! Russia is about to shake up the global financial scene with a groundbreaking move next week. Theyâre gearing up to embrace #cryptocurrency for international transactions, navigating around Western sanctions like never before. đđ„
Imagine this: #Bitcoin and other digital currencies taking center stage in Russia's trade strategy, offering a decentralized and resilient alternative to traditional finance. This isn't just a rippleâitâs a potential tsunami in the economic world! đđ°
What does this mean for you? A new era of financial sovereignty could be on the horizon, with far-reaching implications for global crypto adoption. Or could it stir the pot in international relations? đ€
Stay ahead of the curve and watch closely as this unfolds. Russiaâs bold step could be a pivotal moment for #blockchain technology and international trade. And remember, this might just send shockwaves through the CryptoMarkets, so keep those trading strategies sharp! đđ„
#Binance #CryptoRevolution #GlobalFinance #TradeStrategy #FinancialSovereignty
Shiba Inu: How High Can SHIB Surge in September 2024? #shibaâĄ
The Shiba Inu (SHIB) ecosystem has endured a difficult month throughout August. With more falls than upticks, the meme coin suffered. The asset dipped to a low of $0.00001108.
While the community was hoping that Shiba Inu would eliminate a zero, it dropped by close to 14% over the past 30 days. Despite this, the market seemed optimistic and was hoping for an eventful September 2024
Current Market Status and Predictions
At press time, the meme coin was trading at $0.00001487, a drop of 1.12% over the past 24 hours. This dip comes as a surprise to many, as the network announced its recent inclination towards decentralization.
SHIB is currently the 13th largest cryptocurrency, with a market capitalization of $8.85 billion. The asset demonstrates its wide acceptance and significant market presence.
Investor Sentiment and Market Data
The cumulative Long Liquidation Leverages demonstrated investorsâ confidence. According to Coinglass data, there were more longs than shorts on the previous day. This disparity implies that traders are expecting the price of SHIB to increase. But predictions for the next month could spell a whole new
Experts in the cryptocurrency market predict that after examining Shiba Inuâs price, the SHIB rate will surge to a high of $0.0000242 in September 2024.
While this shatters the assetâs plans to eliminate a zero, the upcoming high is still a notable spike from its current price levels. However, the meme coin might fall to a low of $0.0000169.
In addition, the estimated average Shiba Inu for September 2024 is close to $0.0000206. Thus, it seems that the asset will undergo a bullish September.
$SHIB
#CryptoMarketMoves #BlackRockETHOptions #TelegramCEO #BTCâ
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Investments in Bitcoin Reach 5-Week HighâIs a Bull Rally Coming?
Last week, bitcoin investment products had their greatest inflows in five weeks, according to Coinshares.
This spike comes as investors expect US Federal Reserve interest rate decreases, which might affect global markets, including cryptocurrencies.
Bitcoin Drives Crypto Asset Fund Flows
CoinShares reported $533 million in digital asset investment product inflows from August 18 to 24, indicating a market change.
Most of these inflows ($543 million) went to Bitcoin-related ETPs.
Bitcoin investment interest soared after Federal Reserve Chair Jerome Powell spoke at the Jackson Hole Symposium on August 21, according to the research.
Powell said the first interest rate decreases may come in September 2024, prompting investors to restructure their portfolios for a better climate for risk assets like cryptocurrencies.
According to CoinShares, Bitcoin alone benefited from this revived investor interest, driving most inflows into Bitcoin-related ETPs. BlackRock's iShares Bitcoin Trust (IBIT) dominated the week with $318 million inflows.
Bitcoin's susceptibility to interest rate predictions was shown by Friday's majority of inflows after Jerome Powell's dovish remarks.
Ethereum Fund Flow Performance
Ethereum-related investment products fared poorly throughout the same time. Despite new Ethereum ETF issuers attracting investors, Ethereum-related products lost $36 million.
This trend was driven by $118 million withdrawals from the Grayscale Ethereum Trust (ETHE), which outweighed newer Ethereum ETF inflows.
Recently launched Ethereum ETFs have received $3.1 billion in inflows despite these withdrawals since July 23. Grayscale's ETHE outflows of $2.5 billion largely offset this.
The CoinShares study also showed regional investment flows, with the US dominating with $498 million. Hong Kong and Switzerland also experienced $16 million and $14 million inflows.
#CryptoMarketMoves #PowellAtJacksonHole #BinanceBlockchainWeek $BTC $BNB
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đ Donât Let Go of Your $DOGS: The Secret to Maximizing Gains Post-Binance ListingThe buzz around $DOGS is undeniableâitâs just landed on Binance, and the crypto community is on fire! But before you hit that sell button, letâs talk strategy.Why Selling Right Now Might Not Be Your Best Move:When coins like $DOGS, which were distributed via free airdrops, hit major exchanges, thereâs often a rush to cash in. This can trigger a quick dip in price, as eager sellers flood the market. But hereâs where things get interestingâ$DOGS isnât your average meme coin.What Makes $DOGS Different?- Mega Support: Backed by Telegramâs CEO, Durov, and driven by a passionate community, $DOGS has something special.- No Strings Attached: No tokenomics reveal, no lock-up, and no vesting periods. $DOGS is playing by its own rules.- Big Market Potential: With the right moves, we could be looking at a market cap of 1 billion, 3 billion, or even 5 billion in just monthsâmaybe even weeks.The Smart Play? Hold and Strategize!Sure, you could sell now, but why not consider a gradual approach? Hereâs a pro tip: Divide your $DOGS into three parts. Sell them over the next 3-5 months to ride out the waves and potentially cash in on even greater gains.Remember: Timing is everything. Patience pays. Donât just follow the crowdâoutsmart it. Your future self might thank you!If this insight resonated with you, show some love with a vote or content creator award. Check the pinned comment for details! đđŒ
#BNBChainMemecoins #TelegramCEO #CryptoMarketMoves #Raiteam
$BICO /USDT
**Understanding IT Spot and Resistance Levels**
In trading, understanding IT (Information Technology) spot prices and resistance levels is crucial for making informed decisions. The IT spot price refers to the current market price at which a particular asset, such as a stock or commodity in the tech sector, is bought or sold for immediate delivery. Spot prices fluctuate based on supply and demand dynamics, and are influenced by various factors like market sentiment, economic indicators, and technological advancements.
Resistance levels, on the other hand, are price points at which an asset struggles to move higher. These levels are identified through technical analysis and represent areas where selling pressure overcomes buying pressure. When an asset approaches a resistance level, it often faces difficulty breaking through, as many traders may choose to sell at this point, expecting the price to drop.
For IT stocks, identifying spot prices and resistance levels is essential for timing entry and exit points. Traders use these indicators to anticipate price movements, manage risks, and optimize profits. Successfully navigating IT spot and resistance levels requires a deep understanding of market trends, chart patterns, and economic factors that impact the technology sector. By mastering these concepts, traders can enhance their strategies and improve their trading outcomes.#DOGSONBINANCE #BNBChainMemecoins #TelegramCEO #PowellAtJacksonHole #CryptoMarketMoves
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đ„đ„đ„ #bitcoinâïž Holds Steady at $63,000: Analysts Weigh In on Next Steps
Bitcoin Nears $66,000 Amid Rebound Phase, Analysts Eye Key Technical Levels
Bitcoin seems to be entering a rebound phase, with its price nearing the $66,000 mark after briefly touching a 24-hour high of $64,893 earlier today. The cryptocurrency has since pulled back slightly, trading at $63,786, reflecting a minor 0.2% decline over the past day. Despite this small dip, analysts are divided on Bitcoinâs immediate future, focusing on critical technical levels that could determine its next significant move.
What's Next for Bitcoin?
Crypto analyst Emperor noted that Bitcoin bounced from the $58,000 support zone, which he identified as a key buy zone. He highlighted that Bitcoin has reclaimed the 200-day EMA on the 4-hour chart, seeing this as a positive sign.
Emperor highlighted that Bitcoinâs recent price movements, including front-running the quarterly open and sweeping weekend range lows, are characteristic of a strong uptrend. Although he suggests that Bitcoin may not see continuous upward momentum this week, he remains bullish, with the next target being the monthly open. He concluded by advising caution, stating:
âI will be taking some profits on swing positions. The ultimate direction is up, but now is the time to gradually take profit on Bitcoin while bidding on alts.â
Is Another Correction on the Horizon?
While Emperor remains bullish on Bitcoin, Macro Johanning is more cautious, noting that Bitcoinâs recent peak at $65,100 might signal a temporary exhaustion of momentum, possibly leading to a dip to around $61,000 before any further gains.
Johanning highlighted the importance of upcoming economic data, including U.S. Consumer Confidence, Nvidia's earnings, Q2 GDP, Pending Home Sales, and PCE Inflation data, in influencing Bitcoinâs short-term direction. He noted $67,000 as Bitcoin's next key resistance level following its current consolidation.
Source - newsbtc.com
#CryptoTrends2024 #BinanceSquareBTC #CryptoMarketTrend
đ **Crypto News Flash: Bitcoin ETFs Surge Amid Investor Confidence!** đ
- Spot Bitcoin (BTC) ETFs in the U.S. hit a record high with net inflows reaching $202.6M on Aug. 26, pushing total inflows past $18B!
- BlackRockâs IBIT led the charge with $224.1M, while Franklin Templetonâs EZBC and WisdomTreeâs BTCW saw $5.5M and $5.1M, respectively.
- Bitwiseâs BITB, Fidelityâs FBTC, and VanEckâs HODL faced outflows of $16.6M, $8.3M, and $7.2M.
- BTC price dipped 1.3%, trading at $63K. Ethereum (ETH) ETFs saw $13.2M in outflows, with ETH down 1.7% at $2,700.
đŹ What are your thoughts on these trends? Comment below!
BINANCE has announced new investments in decentralized AI ecosystem specifically in projects like Sahara AI and my Shell. These investments are part of Binance strategy to support the development of AI-powered decentralized applications DApps By backing these AI-focuse initiatives, Binance Labs aims to drive innovation in the blockchain space, enabling the creation of advanced DA pps that leverage AI for enhanced functionality, user experience, and automation. This move reflects a growing trend of integrating AI technologies within the blockchain industry, potentially leading to more intelligent and autonomous decentralized
10 #Bitcoin ETFs
NetFlow: +3,622 BTC (+$228.86M)đą
#iShares inflows 1,366 #BTC ($86.29M) and currently holds 354,209 BTC ($22.38B).
9 #Ethereum ETFs
NetFlow: -4,926 ETH (-$13.36M)đŽ
#Grayscale (ETHE) outflows 7,738 ETH ($20.99M) and currently holds 1,822,527 ETH ($4.94B).
Here are the top 3 coins for a $50 long-term investment:
1. **$BTTC (BitTorrent Chain):** Currently trading at 8.9e-7, BitTorrent Chain is a scalable blockchain platform within the BitTorrent ecosystem. Explore its use case, team, and technology to assess its potential for growth.
2. **$1000SATS:** Trading at 0.0003492, this project is linked to Bitcoin's smallest units, satoshis. Ensure it aligns with your investment strategy by researching its legitimacy and goals.
3. **$SLP (Smooth Love Potion):** Priced at 0.002574, SLP is essential to the Axie Infinity ecosystem. To evaluate its potential, consider Axie Infinity's growth and the role SLP plays in it.
Follow me for more investment insights, and letâs work together to grow your portfolio!
#DOGSONBINANCE #BNBChainMemecoins #TelegramCEO #PowellAtJacksonHole #CryptoMarketMoves