Bone ShibaSwap ($BONE), one of the three main tokens within the Shiba Inu ($SHIB) ecosystem, has been listed on a major cryptocurrency exchange backed by the founder of Tron ($TRX) Justin Sun.

Poloniex, the crypto exchange in question, announced that it is listing BONE, a cryptocurrency that will be used to pay for the gas fees of Shibarium, Shiba Inu’s highly anticipated Ethereum-based layer-2 scaling solution.

The token is known to be central to the ecosystem’s decentralized exchange ShibaSwap, and according to Coinbase, it’s a “governance token that aims to allow the Shiba users to vote on the upcoming proposal on Doggy DAO,” which is the ShibaSwap platform’s decentralized autonomous organization.

ShibaSwap allows BONE token holders to earn rewards for providing liquidity to the network, with users being able to swap their ERC20 tokens for other coins through it. BONE token holders can also stake on the platform to earn interest.

BONE is also central to Shibarium, as the team behind the platform has confirmed that every transaction on it will require BONE to pay for gas fees, and will burn SHIB to make the latter more scarce.

The token’s price has been rising ahead of the expected launch of Shibarium. Shibarium will work alongside Ethereum to process transactions on the Shibarium ecosystem. It will take a large cut of the transaction load the Shiba Inu ecosystem currently brings onto Ethereum to process it on the Shibarium chain.

As CryptoGlobe reported, the rise has seen BONE become a top 100 cryptocurrency earlier this month. The addition of BONE to Poloniex’s listing is a significant development for the Shiba Inu ecosystem, as it opens up new avenues for investors to get involved.

#bone #SHIB #koinmilyoner #buildtogether

Bitcoin and the broader crypto market took a hit over the last day, leading to bitcoin falling below $20,000 for the first time in two months. This decline was followed by a tremendous plunge in investor sentiment. The sharp decline saw sentiment drop to negative levels not seen since January.

Crypto Fear & Greed Index Sitting In Fear

For the last two months, the market was able to recover to as high as $25,000 at one point, leading to a recovery in investor sentiment. As a result, the Crypto Fear & Greed Index moved into the greed territory briefly but all of this has come to an end with the most recent plunge.

The index saw a 10-point drop in a single day, one of the sharpest declines recorded in the last year. Sitting at a score of 34, it shows that investors have once again turned very bearish. The result of this is panic sell-offs as participants in the space try to avoid further losses.

It is a long way from last month’s greedy market which peaked at 62 on the index. The last time the market saw such a sharp decline was in May 2022 following the Terra (LUNA) network collapse. 

Is The Bitcoin Bear Market Back?

Looking at historical data, it is possible to deduce that the bear trend will continue from here. As mentioned above, the last time the Crypto Fear & Greed Index saw such a sharp decline was when LUNA collapse, triggering a decline in the price of bitcoin from above $30,000 to below $20,000.

If this happens to be a repeat of the previous trend, then bitcoin could continue declining. It is even possible to see another decline below its current cycle low of $15,500. If this happens, the market bottom may be farther away than expected.

Interestingly, net flows for the past day have come out to be almost neutral for the top digital assets in the space. According to a Glassnode report, bitcoin exchange inflows came out to $782.9 million versus $796.6 million in outflows leading to negative $13.7 million in net flows. Ethereum recorded the same trend with net flows coming out to negative $29.6 million after all was said and done.

Historically, it has always been more favorable to enter the market when the majority are scared to do so. This could mean that the current downtrend poses a buying opportunity for investors who are looking to get in at low prices.

At the time of writing, Bitcoin is still trending below $20,000. It is changing hands at just above $19,900, down 8.21% in the last day and seeing losses of 11.16% on the weekly chart.

#bitcoin #Binance #buildtogether #koinmilyoner #crypto2023

The lead developer of Shiba Inu (SHIB) is denouncing the spread of fear, doubt, and uncertainty (FUD) as the crypto project launches the testnet of Shibarium, its new layer-2 project.

In a new blog post, pseudonymous SHIB developer Shytoshi Kusama aims to debunk a rumor allegedly started by a competitor that Shiba Inu creator Ryoshi is in fact Sam Bankman-Fried, the disgraced founder of bankrupt crypto exchange FTX.

Citing two pieces of “meme evidence” – his love of professional wrestling and his disdain for centralized exchange networks – Shytoshi says it’s not possible for Ryoshi to be Bankman-Fried.

“The biggest FUD and FUDDER goes to a dude making a competing product trying to convince you that [Sam Bankman-Fried] is Ryoshi. Now that the team, and everyone that ever saw Ryoshi post is done laughing, let’s give two pieces of meme evidence that this is not the case.

Ryoshi was a big fan of wrestling. WWF wrestling to be specific. He chose Gifs of people like Macho Man Randy Savage and Ric Flair! At one point we even considered getting Ric Flair for a Shib commercial. [Bankman-Fried] wasn’t even BORN at this time. So how could he even know how to step into a Slim Jim? More importantly, Ryoshi, as seen in his posts, was NOT a fan of centralized exchanges (CEX) and would NEVER have run one himself. Do better fudders, do better.

So, as we continue forward, and our former, and new frens attempt to attack the army, produce new FUD, and even YOUR projects… stay strong. We are building for a better future. WOO!”

The highly anticipated Shibarium project launched in its beta form last week. Its testnet, called “Puppynet,” does not support real crypto tokens yet, but the development team says once the beta is finished, the platform will create a new ecosystem where tokens can be swapped using the digital asset ShibaSwap (BONE) to pay for gas fees.

SHIB is moving for $0.000011 at time of writing, a 2% gain on the day.

#SHIB #bone #shibarium #shibainu #koinmilyoner

SHIB and BONE suffered a decline after news emerged about Shibarium chain ID.

SHIB has, however, recovered while BONE continues to struggle after plans of new Beta redeployment came to light.

After initial worries were voiced regarding the chain, the Shiba Inu Shibarium testnet, also known as the Puppy net, caught up without a hitch. With what appeared to be a clarification, the tokens also looked to be on the road to recovery from the FUD surrounding them.

There was some disagreement in the Shiba Inu community earlier in the week after the debut of the Shibarium. One of the community members noticed that the Layer 2 network (L2) was using the chain ID for an unrelated project. Due to the lack of prompt action, these worries had a detrimental effect on the price movement of SHIB and BONE.

Addressing the Shiba Inu FUD

One of the main Shiba Inu developers addressed the confusion with the chain ID when the worries were raised, and the accompanying Fear, Uncertainty, and Doubt (FUD) set in.

Kaal Dhairya said in a tweet that the chains chosen for the Alpha network rollout were randomly chosen. According to him, the chains were not reviewed before final deployment but were not registered to any projects when they were selected.

He continued by announcing the intended deployment of a new version of the Beta network with a new chain ID.

The state of the Shiba Inu Shibarium and SHIB active address

A scan of the L2 testnet with puppyscan showed that activities had ramped up. With an average block time of 5.0 seconds as of this writing, it had generated over 400,000. Also, it had already performed more than 2,500 transactions and had more than 2,500 wallets registered on the network. 

A rise in Shiba Inu (SHIB) addresses was also visible in the lead-up to the release of Shibarium, as measured by Santiment’s active address statistic.

As of this writing, there were approximately 31,000 active SHIB addresses, which showed that it had maintained its previous level of success.

#SHIB #shibainu #bone #koinmilyoner #GPT-4

The Security and Exchange Commission went after multiple celebrities, including Lindsay Lohan and Jake Paul, for promoting TRON ecosystem tokens.

Justin Sun and the Tron Foundation were also accused of fraudulently manipulating TRX’s secondary market.

TRON price plunged by 12.5% in the span of an hour, with the altcoin falling to $0.0587.

TRON price plummeted on March 22 after the cryptocurrency became the new target of the ongoing regulatory crackdown in the United States. The Security and Exchange Commission (SEC) is now looking into Tron founder Justin Sun’s company and related entities of the altcoin’s ecosystem.

SEC goes after Justin Sun

In a press release on March 22, the SEC announced charges against Justin Sun and his three wholly-owned companies. These included the Tron Foundation, BitTorrent Foundation and Rainberry (formerly BitTorrent). These entities were charged for offering and selling unregistered assets, which, according to the SEC, were TRON (TRX) and BitTorrent (BTT).

In addition to these charges, Justin Sun was also accused of fraudulently manipulating the secondary market for TRX through extensive wash trading. The SEC further stated that Sun orchestrated a scheme to pay celebrities to promote TRX and BTT but failed to disclose that they were being paid to promote these cryptocurrencies.

Consequently, eight celebrities also came under fire as SEC charged them for illegally promoting the TRON ecosystem tokens, including the likes of Lindsay Lohan and Jake Paul. SEC chair, Gary Gensler, in line with the charges, said,

“As alleged, Sun and his companies not only targeted U.S. investors in their unregistered offers and sales, generating millions in illegal proceeds at the expense of investors, but they also coordinated wash trading on an unregistered trading platform to create the misleading appearance of active trading in TRX.”

SEC after the crypto space

This is the second instance of the regulatory body attacking a major crypto company after Kraken. Earlier last month, the SEC charged the crypto exchange with selling unregistered crypto staking service program and penalized Kraken for $30 million.

This raised concerns in the crypto community regarding SEC’s stance on staking.

The reason behind this is that Ethereum and many other altcoins are built on the Proof of Stake (PoS) consensus method, which is considered to be superior to Bitcoin’s Proof of Work (PoW) method.

But if the SEC was to eye the staking aspect of the crypto space, many cryptocurrencies would go down. However, since the Kraken staking service takedown, the SEC has not taken any major step in this direction.

TRON price crashes by 12%

TRON price noted a strong bearish reaction to the SEC’s charges as investors rushed to sell their assets. The altcoin fell by more than 12.37%, bringing the price down to trade at $0.0587. As a result, TRX lost three major support levels, namely the 50-, 100- and 200-day Exponential Moving Averages (EMAs).

The confluence of the 100-- and 200-day EMA now stands as the critical resistance level that the TRON price needs to breach in order to mark a sustained recovery. The cryptocurrency is also vulnerable to a dip below the critical support at $0.0572Losing this base would push TRX down to 2023 lows of $0.0518, noting a 22.73% crash.

#tron #justinsun #sec #BTC #koinmilyoner

A key altcoin in the Shiba Inu (SHIB) ecosystem is coming to a crypto exchange backed by Tron (TRX) founder Justin Sun.

In a new release, crypto exchange Poloniex says it’s listing Shiba BoneSwap (BONE), the digital asset that will be used to pay for the gas fees of Shibarium, Shiba Inu’s highly anticipated upcoming Ethereum-based (ETH) layer-2 scaling solution.

“BONE wallets will open on March 9, 2023 at 10:00 UTC and full trading will be enabled on March 9, 2023 at 11:00 UTC…

BONE is a governance token of Shibaswap ecosystem which will allow the Shib Army to vote on upcoming proposals. The more BONE the user holds, the more weight their vote carries in these future endeavors. BONE has 250,000,000 tokens, and is designed to fit perfectly between the previous two tokens in regards to circulation supply.”

BONE is also the virtual asset used to operate ShibaSwap, the decentralized exchange (DEX) of the Shiba Inu ecosystem.

Previously, crypto exchange platforms Gate.io and Bitget announced they would be listing BONE while the Shiba Inu community launched a petition to get Binance, the world’s largest digital asset exchange by volume, to support the crypto asset as well.

Though Binance has not responded to the request, it staked four trillion SHIB tokens last month, worth about $35 million at the time, after BONE was announced as Shibarium’s utility asset.

BONE is trading for $1.75 at time of writing, a 27% increase from its seven-day low of $1.37, vastly outperforming Bitcoin (BTC) and ETH, which are currently moving for $21,612 and $1,533 respectively, both sharp declines from their weekly and monthly highs.

#SHIB #Ethereum #bitcoin #buildtogether #koinmilyoner

On-chain data shows that Bitcoin miners have transferred many coins to exchanges today, which may be a sign of selling.

Bitcoin Miner To Exchange Flow Has Observed A Huge Spike Today

As pointed out by an analyst in a CryptoQuant post, a total of 1,637 BTC was deposited to exchanges by the miners today. There are a couple of relevant indicators here. The first is the “miner reserve,” which measures the total amount of Bitcoin currently sitting inside all miners’ wallets.

The other metric of interest is the “miner to exchange flow,” which tells us about the total number of coins miners (all or belonging to a specific mining pool) transfer to an exchange or a group of exchanges.

When this metric’s value spikes, miners deposit many coins to the exchange. This trend may have bearish consequences for the price as miners usually transfer their coins from their reserves and into exchanges for selling purposes.

Now, here is a chart that shows the trend in the Bitcoin miner-to-exchange flow, for all miners and all exchanges

The above graph shows that the Bitcoin miner-to-exchange flow has observed a huge spike in the past day. With this large movement, miners have deposited 1,637 BTC (roughly $44.2 million at the current price) to exchanges.

The quant has also found out that the Binance mining pool, in particular, was responsible for this exchange inflow. The destination of these coins was also to a single exchange: Binance. The below chart shows this movement.

Usually, deposits like these are a sign of increased selling pressure from the miners and, thus, can lead to a decline in the price of the asset, at least in the short term.

In the present case, if these inflows were indeed made with selling in mind, then it would mean that miners possibly think that the rally is winding off for now as the asset’s price has taken a hit during the past day, so they are striking while the profit-taking opportunity is partially still there.

Data of the Bitcoin miner reserve, however, shows an interesting picture.

The chart shows that the Bitcoin miner reserve saw a sharp upwards spike just before the plunge due to today’s transfer to Binance. Curiously, this increase in the reserve was just enough to cancel the movement to the exchange.

This means that even though a large withdrawal from the reserve may have occurred today, the miner reserve has only moved sideways since the miners only took out what was freshly deposited into their wallets.

BTC Price

At the time of writing, Bitcoin is trading around $26,900, up 4% in the last week.

#BTC #BNB #dyor #crypto2023 #koinmilyoner

An NFT collection based on a funding model designed by Vitalik Buterin and others is gaining popularity on OpenSea. The collection is called Quadratic Funding.

An NFT collection seemingly associated with Ethereum co-founder Vitalik Buterin has begun skyrocketing in value on OpenSea. The Quadratic Funding Open Edition is a collection that celebrates the quadratic funding proposal that Buterin, Harvard economist Zoë Hitzig, and RadicalxChange founder Glen Weyl published in 2018.

The collection contains various on-chain records of the proposal. This includes a new digital copy of the whitepaper signed by the three authors and two essays by Gitcoin’s co-founders celebrating its impact.

One notable aspect of the collection is that Buterin, Hitzig, Weyl, Kevin Owocki, and Scott Moore are listed as creators. Buterin has not made a public statement on this collection, so it’s unclear to what extent he is associated with it.

70% of the funds from the sales will go toward Gitcoin, 20% to the Plurality Institute, and 10% to Metalabel. The collection description notes that Gitcoin and Metalabel are the ones releasing the Quadratic Collection “to commemorate and preserve this original work and to raise funds for public goods.”

The Quadratic Funding Signature Edition is reciting several bids at the moment. Most bids for the NFTs in the collection are under 0.5 ETH. But there are some selling as high as 17 ETH.

What Is Vitalik Buterin’s Quadratic Funding?

Quadratic Funding is a specific model used in the matching process for crowdfunding campaigns. It is estimated that this model has had an impact of over $21 million so far. The essence of this model is that it is more decentralized.

Buterin has previously talked about Gitcoin and quadratic funding in the past in blog posts. In 2019, he offered an introduction to quadratic funding. More recently, in May 2022, he asked the crypto community if there was any interest in the model.

Quadratic Funding Collection Raises Millions in Short Time

Despite dropping largely unannounced, the collection has already raked in millions. Since releasing on March 1, the collection has crossed $10 million in volume in terms of ETH. In the past 24 hours, it has managed over $7 million in volume.

While there is no official word from Buterin yet, a representative from Metalabel told Decrypt that Buterin had “agreed to reissue the whitepaper he co-authored.” He also reportedly informed the outlet that he had signed 12 physical copies of the whitepaper in the signature editions.

#vitalik #Ethereum #opensea #buildtogether #koinmilyoner

The crypto analyst who nailed the current Bitcoin (BTC) bottom believes that the king crypto and Ethereum (ETH) are likely poised for more bursts to the upside.

Pseudonymous analyst DonAlt tells his 466,800 Twitter followers that the strong recovery of both Bitcoin and Ethereum to close the previous week is likely a signal that the leading crypto assets are gearing up for big rallies.

According to DonAlt, BTC and ETH “look ready to absolutely giga moon.”

Looking closer at Bitcoin, the crypto trader believes that BTC is primed to take out resistance at $24,300.

“Selling into the third test of $24,000? Nah thanks, I’d rather chance it.” 

Based on DonAlt’s chart, Bitcoin’s next resistance is at $32,200 should it break above the supply area of $24,300.

The widely followed analyst also highlights that the current Bitcoin rally is a sign that BTC is serving its one true purpose.

“Bitcoin was born out of anger at the banking system I’d love to see it thrive during uncertain times like this, proof that it’s capable of showing teeth. Inflation hedge, recession hedge are all memes. When banks steal your money, that’s when BTC is supposed to shine.” 

Bitcoin was created in 2008 following the collapse of the housing market and the US banking system which forced the government to bail out institutions that are “too big to fail.”

In the past week, the US financial system witnessed the collapse of several banking institutions including Silicon Valley Bank and Silvergate Bank. Bitcoin responded by rallying from last week’s low of $19,736 to its current value of $24,130, an eye-popping 22% rally.

As for Ethereum, the crypto trader believes the leading smart contract looks bullish after rallying from last week’s low of $1,379 to recover support at $1,600.

#crypto2023 #bitcoin #koinmilyoner #BTC #dyor

As the broader cryptocurrency sees most coins registering high gains, BNB is among those with a notable price increase. The token has recovered all past weeks’ losses and shows parallel gains from the 30-day to the hourly price increase.

The fourth-largest cryptocurrency by market cap gained 7.46% over the past 24 hours and saw a 23.86% increase over the past seven days. The token consolidated around $277 for four consecutive days, with $290 posing strong support.

Also, BNB has recorded a surge in trading volume over the past 24 hours, indicating increased network activities. CoinMarketCap’s data shows a sharp spike in trading volume from $352.47 million on March 12 to $1.33 billion today, March 17. 

Now that BNB finally rose above $300, will it sustain this rally and reach the $400 mark?

BNB Breaks Support, Gearing Towards Higher Highs

BNB has been consolidating around $290 and $300, corresponding to its support levels, $311.78, $293.94, and $283.59. However, it has broken above these support levels and is gearing up to break the resistance levels, $339.97, $350.32, and $364.16. 

A break above resistance levels often indicates higher volatility in the coming days. Chances are high that BNB will witness increased price volatility after it successfully breaks these levels, which is only possible if it sustains the current rally.

BNB reacted positively over the past days as Bitcoin’s gains excited the bulls, pushing price rallies across the cryptocurrency market. This bullish sentiment caused Binance Coin (BNB) token to surge over 20% within four days. 

The daily timeframe suggested a bullish market structure for BNB as the coin beat the low of $287.56, climbing to a new low of $309.33 and a high of $335.55 today.

BNB Price Outlook In The Coming Days, Can It Reach $400 Soon?

BNB has been in an uptrend since March 10, 2023, recording higher highs on the daily chart. The long green candle formed on the daily chart on March 16, 2023, confirms that the bulls have seized control of the market.

BNB is trading above its 50-day and 200-day Simple Moving Average (SMA), a bullish trend for the short and long term. Also, the Relative Strength Index (RSI) is 70.08 in the overbought region. The indicator is still moving upwards, suggesting further price increases ahead.

BNB’s Moving Average Convergence/Divergence (MACD) is above its signal line and showing divergence. Also, the histogram bars are at full strength, confirming the bullish trend. The support levels are $283.59, $293.94, and $311.78, while the resistance levels are $339.97, $350.32, and $368.16. 

BNB is trading close to the $339.97 resistance level, and its current price form shows it will likely surpass its resistance level. However, a price pullback is possible for consolidation. Expect BNB to increase to $400 if the bulls can rally beyond the $368.16 resistance level in the coming days.

#BNB #BTC #bullmarket #BullRun #koinmilyoner

Messari founder and CEO Ryan Selkis says Bitcoin (BTC) is poised to go on a massive rally as US banks fall like dominoes.

The head of the crypto intelligence firm tells his 307,400 Twitter followers that Bitcoin is likely to hit six figures within the next 12 months.

He names five main reasons for his forecasted price of Bitcoin at $100,000, a more than 270% increase from its current value of $26,606.

Selkis predicts there will be additional bank failures and the Federal Reserve will not only stop raising interest rates to reduce inflation but start cutting them.

He also says more investors will find Bitcoin an attractive “outside money” asset and that institutions will adopt the king crypto quicker than any potential move by the US to restrict or ban it.

“My rough prediction for the next twelve months:

1. More bank failures in the next couple of weeks.

2. Fed cuts / QE (Quantitative easing) is back!

3. BTC climbs, sustained moderate inflation.

4. ‘Outside Money’ / ‘Sound Money’ – $100,000 / BTC.

5. Institutions buy faster than Feds can shut down.

Game.”

Selkis says that the banking crisis is rattling investors’ confidence and they will put their wealth in assets like crypto and gold.

“Fractional banking is good (credit), but requires prudence and confidence to work. When confidence disappears, people logically move to full reserve banks. (Crypto and gold)

Crypto didn’t change accounting rules to favor Treasuries, then cover up bank insolvency.

The Feds did.”

He says decentralized finance (DeFi) is the direction the world is heading, claiming it is a more trustworthy system than the traditional financial markets.

“Crypto is a life raft and an optimistic bet on a future of open financial services + open tech. It is also a protest vote and an ‘exit’ tool. You want exposure if you can’t trust your institutions. And the message the past week has been ‘do not trust your banks or governments.’”

Selkis also warns how fractional banking, when banks only have to hold a portion of the money deposited in their reserves, is a risky practice that can harm crypto. The banking crisis can pose a challenge for the crypto sector since, as it stands currently, traditional financial institutions are needed for customers to move their hard currency on-and-off crypto platforms.

“The Fed and Big Banks must better coordinate on how to protect crypto from the systemic risks of the US banking system. Fractional banking is risky. Don’t invest more than you can afford to lose. It has potential, but only if it’s built safely with consumer protection in mind.”

#bitcoin #BTC #Binance #koinmilyoner #BullRun

Widely followed crypto analyst Benjamin Cowen is identifying a worst-case scenario for the crypto markets as prices spiral downward.

In a new strategy session, Cowen tells his 784,000 YouTube subscribers that the crypto markets could give up hundreds of billions of dollars in a correction similar to the dot-com collapse.

“There are a lot of similarities between the tech stock collapse back in the dot-com era and the crypto collapse that we’re seeing today.”

Cowen looks at the performance of the Nasdaq during the dot-com era and draws parallels to today’s crypto markets. He uses the market rally and decline percentages from the dot-com era to indicate where the total market cap for Bitcoin and other cryptos could be heading.

According to the analyst, the total market cap of all crypto assets may be in a position where it witnesses one more capitulation phase, similar to what happened to the Nasdaq in 2022 when it crashed by about 30% before bottoming out.

“Where would it put [the total crypto market cap] if we went 30% lower below the prior low? It would put the total market cap at around $500 billion, which represents a sizable correction from the current levels. That’s 30% below the prior low. From the current levels, that would represent another 40% to 50% correction. And again, we know that these percentages are subject to slight changes like it’s not going to be exact. So maybe it could be 40% down from here if it’s going to follow it. Or maybe it could be 50% down and get you closer to $400 billion…

I think the worst-case scenario for crypto would be somewhere around a $400 billion to $500 billion market cap for the entire asset class.”

A decline to a $500 billion market cap would evaporate more than $460 billion in cryptocurrencies. The total market cap at time of writing is $966 billion.

Cowen also says that the dot-com crash from its peak occurred over a two-and-a-half-year period when the Nasdaq dropped by a total of 83%. He says a similar fall from the peak of the crypto markets would also bring the total market cap down to the $400 billion to $500 billion range.

The crypto analyst notes that he is identifying a worst-case scenario, and it’s still possible the bottom is already in.

“There’s always a chance that the bottom is in, and that it doesn’t have to play out in the worst-case scenario.”

#bitcoin #crypto2023 #koinmilyoner #buildtogether

Hathor has cemented itself as a keen contender in developing cutting edge Blockchain technology. It has managed to consistent links from Web3 to more traditional industries like regulated securities (Tokenizadora, Brazilian company) and large telecommunications companies such as Telefónica (based in Spain). These industrial links allow the technology to stay closely linked with current requirements, and further encourages people to switch technologies over from Web2 based technologies. They have not only managed to generate new connections in this manner, but also continuously update and improve the network whilst doing so. The focus of this article is to further explore each partnership and the role they play in making the Web2 to Web3 transition as seamless as possible.

Tokenizadora

This company is mainly focused on transforming traditional securities (such as stocks and bonds) into digital tokens on the blockchain. They are regulated by the Brazilian Securities and Exchange Commission (CVM). The benefits to using blockchain technology as a whole are expansive, however there are certain features that makes Hathor stand out. Generally, the use of blockchain implies that anyone is able to audit the transactions, and they cannot be manipulated by any singular party — and as such a great deal of transparency is gained.

One issue with traditional blockchain technology would be the fees and confirmation time required — which could slow down the market or make it unfeasible to sell/trade your securities. Hathor is able to provide feeless and instant transactions by integration of DAG and blockchain technology, and cut down on energy emissions for processing these transactions through the integration of Hathor’s merged mining with the main Bitcoin network. Another issue is scalability, where rapid market growth might lead to rapid short term change. Hathor is able to be easily scaled up to handle more transactions, and thus can handle not only more transactions from Tokenizadora but also from the other users of the network without slowing down or bottlenecking as Ethereum or Bitcoin would.

Bigger institutions are starting to realise the potential of this technology, such as Santander — one of the top five banks within Brazil. They have invested an $8M USD sum into creating tokenization for private bonds for a parking company. The third largest bank, Itau, currently holds around $25M USD in tokenized assets — further showing the potential for this technology to accelerate, with Hathor at the forefront.

Alvarez & Marsal (BizHub)

Alvarez & Marsal is a global firm focusing on providing professional and management solutions. They have offices around the world and aim to be on the forefront of consultancy technology. They recently ranked tenth (#10) in Global Consulting Firms 2023. They pride themselves on being fact-driven and action-oriented, making it perfect for innovation involving integration with Web3. This partnership includes the creation of tokenised securities similar to those created on Tokenizadora. The main difference comes in the form of selling tokenisation as a solution rather than doing that transition for their own company. This is part of Alvarez & Marsal’s Innovation sector, Bizhub.

“We provide the technology to customers. We are going to create the platform, but we are not going to become a distributing bank. We are not a bank token company”, explains Tiago Nascimento, director of technology at BizHub.

The director then goes on to elaborate on them jumping on the growing demand and materialising a platform to implement the change and sell the product. They faced the same issues with other platforms as aforementioned, such as high gas:

“We did a benchmark in 2021 looking at sport in b2c [businesses with direct sales to the consumer]. We performed an analysis of all blockchains on the market and Hathor was the most open to work with. The others had a big problem with a very high gas rate. For us it was a much better solution from a productivity point of view,”

Although Hathor is a smaller player in the crypto space than Bitcoin or Ethereum, the company noted that the prior partnership with Tokenizadora showed the potential Hathor has as a network to bring cohesive solutions to market.

Hackathon (Web3MBa x Startups)

Hathor is one of the three infrastructure providers for a Hackathon involving the creation of innovative and scalable business models on Web3. The companies sponsoring included Google, Telefónica, Iberdrola, and KPMG — to name a few.

This Hackathon was hosted in Spain, and the winning idea was to be supported by the companies to further develop it. To be alongside such big players within industry as an infrastructure provider puts the technology’s key strengths in front of those who constantly seek innovation and improvement. As earlier with A&M, sometimes products being in the hands of the right people is the catalyst required to drive uptake and usage across the globe.

Moving Forwards

The examples of the technology being used without any smart contract integration show the potential and power of the network as it continues to improve itself. There is an ongoing series on the Hathor Twitter about the utility of Nano Contracts with smaller development teams within the community. It demonstrates the power of Nano Contracts to do more on chain than was previously possible. This further decentralises the security industries as trades can be done without their approval, meaning that users have full control of their assets.

The team is committed to only releasing products once they are fully battle tested and bug-free. This is another value of the network which helps to set minds of those in traditional industries at ease, as vulnerabilities could result in people losing assets.

#koinmilyoner #Binance #crypto2023 #dyor #BNB

The US Federal Reserve (Fed) announced on Wednesday that it raised the policy rate, federal funds rate, by 25 basis points to the range of 4.75-5% following the March policy meeting. This decision came in line with the market expectation.

In its policy statement, the Fed dropped the reference to "ongoing increases" and said that some additional policy firming may be appropriate.

Key takeaways

"Likely to see tighter credit conditions that weigh on economic activity, hiring and inflation."

"US banking system is sound and resilient."

"Will continue reducing balance sheet as planned."

"Job gains have picked up, running at a robust pace."

"Inflation remains elevated."

"Fed vote in favor of policy was unanimous."

Market reaction

The US Dollar Index fell sharply with the initial reaction and was last seen losing 0.5% on the day at 102.70. 

Federal Reserve expected to hike interest rates by 25 basis points.

Summary of Economic Projections, known as the dot plot, will shape how the markets react.

FOMC will need to find a balance between addressing inflation pressures and banking troubles.

The Federal Reserve (Fed) is expected to raise its policy rate by 25 basis points (bps) to the range of 4.75%-5% on Wednesday, March 22 at 18.00 GMT. 

The market positioning suggests that such a decision is already largely priced in, opening the door for a significant reaction to the Fed’s communication, the revised Summary of Economic Projections (SEP) and Chairman Jerome Powell’s press conference regarding future policy actions. 

According to the CME Group’s FedWatch Tool, the probability of a 25 bps hike this week stands at around 84%, an almost certain chance. For the March 22nd meeting, the market is currently pricing in only a 16% chance of the Fed leaving its policy rate, the federal funds rate, unchanged at the range of 4.5%-4.75%.

TD Securities experts expect a balanced statement from the Federal Reserve:

“We expect a 25 bps rate hike taking the Fed funds target range to 4.75%-5.00%. We anticipate that post-meeting communication will: (i) stress that the Fed is not done yet in terms of further tightening of its policy stance, (ii) acknowledge the more uncertain economic environment, with a large emphasis on data dependence, and (iii) underscore a willingness to guarantee sufficiently liquid market conditions.”

Federal Reserve interest rate decision: What to know in markets on Wednesday, March 22

The US Dollar (USD) suffered heavy losses last week, pressured by falling US Treasury bond yields and the re-pricing of the Fed’s rate outlook following the collapse of the Silicon Valley Bank and Signature Bank. 

As investors move to the sidelines ahead of the Fed’s policy announcements, the US Dollar Index consolidates its losses.

US stock index futures trade mixed following Tuesday's risk rally and the 10-year US Treasury bond yield continues to fluctuate above 3.5%. 

The European economic docket will not feature any high-impact data releases on Wednesday, allowing the USD’s reaction to the Fed to drive EUR/USD’s action.

When is the Fed meeting and how could it affect EUR/USD?

The Federal Reserve is scheduled to announce its interest rate decision and publish the revised Summary of Economic Projections (SEP), the so-called dot plot, this Wednesday, March 22, at 18:00 GMT. This will be followed by the post-meeting FOMC press conference at 18:30 GMT. Investors had begun to re-price the Fed’s policy outlook following last week's collapse of two mid-size US banks – Silicon Valley Bank and Signature Bank. 

That said, investors are still forecasting a 25 bps rate increase amid easing fears over a deepening liquidity crisis following the quick measures taken by the Fed. This, along with a positive development surrounding the Credit Suisse saga, suggests that the Fed could stay focused on battling inflation. Nevertheless, the terminal rate projection in the dot plot and Fed President Jerome Powell’s comments on the policy outlook and the market turmoil will provide fresh clues regarding potential future policy steps.

In December, the Fed’s SEP revealed that the median view of the policy rate at end-2023, the terminal rate, stood at 5.1%, up from 4.6% in September's SEP. At this point, an upward revision to the terminal rate projection shouldn’t be surprising. Having said that, where the terminal rate lands will reveal whether policymakers have turned reluctant to continue with rate hikes. Moreover, market participants will want to know if policymakers forecast a rate cut before the end of the year, given the negative impact of high interest rates on financing conditions. 

According to Yohay Elam, Analyst at FXStreet, “after the initial reaction, the focus will shift to interest rate projections. I expect no significant change for 2023 – the Fed will likely stick to its guns about refusing to slash borrowing costs this year. By signaling rates will near 5.50%, the Fed would continue conveying a message of confidence. It could offer a token reduction of its projections for 2024 and 2025 – but markets do not look that far.”

FOMC Chairman Jerome Powell will have to respond to tough questions on the state of the banking sector. His communication on how the Fed plans to continue to tame inflation while reassuring that SVB turmoil will remain contained will impact the action in US Treasury bond yields and the US Dollar’s performance against its major rivals.

Previewing Powell’s presser, “if fighting inflation is an overriding priority, even if it results in a recession, shares would tumble, and the Greenback would surge. Such a clear-cut message also has low chances,” Elam noted. “I expect Powell to dedicate significant emphasis and time to the labor market – the Fed's second official mandate, alongside price stability., He could tie the bank's next moves to jobs data rather than solely banks vs. inflation.” 

Eren Sengezer, European Session Lead Analyst at FXStreet, shares his outlook for EUR/USD: “Heading into the key central bank event risk, the EUR/USD pair trades with a positive bias comfortably above 1.0700. The Relative Strength Index (RSI) indicator on the daily chart stays near 60, suggesting that the pair has more room on the upside before turning technically overbought.”

“Nevertheless, a hawkish dot plot combined with Powell’s assurance that they will focus on taming inflation should help the US Dollar gather strength and cause the pair to turn south. In that scenario, the 50-day Simple Moving Average (SMA) is likely to act as dynamic support at around 1.0700. A daily close below that level could open the door for an extended slide toward 1.0600 (100-day SMA) and 1.0540 (static level).”

“On the upside, EUR/USD could face interim resistance at 1.0850 (static level) before targeting 1.0900 (psychological level, static level) and 1.1000 (psychological level),” Eren adds further.

#Fed #bitcoin #koinmilyoner #Binance #BTC

Shiba Inu is among the tokens that use a burning mechanism. It has continually burnt millions of SHIBs to balance its demand and supply, sometimes pushing the price slightly. The network removed 490 million SHIBs in one day in this latest burn.

One of the ways of improving token value is by reducing its supply. The crypto industry uses the burning mechanism to execute the process. This mechanism enables tokens with uncapped supply to reduce the circulating amount in the market, thereby preventing over-saturation and price crashes. 

490 Million Shiba Inu Tokens Removed From The Market 

In the latest report by Shibburn.com, Shib developers removed 489,895,235 permanently from circulation. The SHIB burn tracker disclosed that the burning occurred in 24 hours through eight separate transactions. 

Among the eight transactions, a “Shib Inu: Deployer2” wallet burnt the highest number by sending 485,682,280 SHIB to the Shiba Inu burn address in a single transaction.  

Notably, the total Shiba Inu burn rate decreased by 71.28% from the previous day’s burn. According to the burn tracker, the previous day’s transactions involved 58 transfers to the burn wallet, destroying 2,204,313,475 SHIB tokens. 

Due to the address that burned the massive number of tokens, the community has linked it to the upcoming Shibarium Public Beta. Notably, the address is a SHIB contract deployer.

But while the burn continues, some notable SHIB token purchases confirm the interest in the Shibarium release. Top whales, including “BlueWhale0073” and others, have accumulated almost 215 billion tokens in 10 days. The report disclosed that these Ethereum investors consider SHIB’s price at $0.00001034 the best time to accumulate the tokens.

BlueWhale0073 alone purchased a whopping 215,815,570 539 SHIBs worth $2,209,951 from an unidentified address that paid $33.46 in nominal fees. 

Shibarium And The Latest Updates

The Shibarium launch has created an unending buzz in the crypto community. Shiba Inu community anticipates several benefits from the new project. The project aims to become a decentralized hub for SHIB holders to trade the tokens and earn rewards without centralized exchanges. 

Moreover, the platform promises fast, low-cost transactions on SHIB and other tokens. It also aims to correct the issues such as high fees and slow transaction speeds that permeate other DEXs, thereby ensuring a seamless trading experience.

Most importantly, the new project should increase the SHIB token value as it will create new use cases. Notably, the demand will spike as its utility increases, potentially boosting the price. The team has announced that the public beta will go live this week, and the community gladly awaits D-Day. 

The project is already increasing Shiba Inu adoption as many firms are integrating it for payments. Xeni, a travel booking platform, and BitPay have partnered and will use SHIB and other cryptos as payment. Also, NOWNodes, a blockchain node infrastructure provider, announced its plans to integrate Shibarium. 

#SHIB #shibarium #koinmilyoner #crypto2023 #buildtogether

Polygon MATIC price is trading with a bullish bias on the one-day timeframe, but bears are leading in lower timeframes.

MATIC could plummet 10% to the $1.00 support level or worse.

A decisive flip of the 50-day EMA barricade at $1.14 into support will invalidate the bearish thesis.

Polygon MATIC price is trading with a bearish bias in lower timeframes, but bulls are leading in the higher timeframes. The network has recorded strong retail demand and market reaction following the Polygon zkEVM product launch, which is expected to enhance privacy and increase transaction throughput on the Ethereum-compatible network. However, on-chain data indicates that crypto whales need more convincing for a strong uptrend to hold.

MATIC price risks a 10% downswing

MATIC price is trading below the $1.20 level for the second week in a row, putting pressure on the $1.00 support level. The altcoin is trapped within a formidable supplier congestion zone, upward due to the 50-day Exponential Moving Average (EMA) at $1.11 and downward due to the 200-day EMA at $1.03.

If buyer momentum drops, bears could take over, causing MATIC price to drop and lose the support level provided by the 100-day EMA at $1.09 before revisiting the March 27 lows above the 200-day EMA at $1.03.

In the dire case, MATIC price could plunge further and tag the $1.00 support level, denoting a 10% price drop from current levels. This would be the ideal bouncing level for the altcoin, although, in highly bearish conditions, the token could shatter the aforementioned support level and tag the $0.91 support level.

Bearish whales threatening Polygon’s bullish potential, on-chain metric shows

A strategic cohort of MATIC whales has been booking profits since late February. The orange and blue bars below show how the cluster of whales holding over $100,000 and over $1 million MATIC, respectively, have been depleting their balances since late February.

This means that Polygon whales have intensified the sell-off, with approximately 26 million coins worth $30 million sold in the last week. Should the whale sell-off ensue, MATIC price could struggle to solidify a bullish trajectory in the coming weeks. 

Similarly, the number of whale transactions recorded has reduced by over 50% since mid-February. While only 266 MATIC transactions recorded worth over $100,000 at the end of Feb 17, as of March 28, the figure is down to 120. Notably, a drop in large transactions precedes an incoming slump for MATIC price. 

Still, if buyer momentum increases, MATIC price could breach the resistance level presented by the 50-day EMA at $1.14. A daily candlestick close above this level will invalidate the bearish thesis.

Northward, MATIC price could reach up for the next roadblock at $1.20 or tag the $1.30 resistance level in highly bullish cases. 

#matic #koinmilyoner #BTC #crypto2023 #BNB

Which way will Bitcoin break out of last week’s range? On screen I have highlighted the price range between $29,000 and $26,700, representing the high and low of the week-long ranging period. The price has flirted with a break to the downside, touching as low as $26,500, but a confident close below $27,000 is still to occur.

Bitcoin surged in March as confidence in the global banking system was shaken with the fall of a few US regional banks and the Swiss giant Credit Suisse. As it stands, it appears that the risk of other banks going under is subsiding, which may also stifle the upside potential of bitcoin moving forward. The phycological level of $30,000 might be too lofty a goal for bulls now if a break to the upside does occur. Gold hitting $2,000 might be more likely at this point.

Elsewhere in the crypto sphere, and perhaps applying some more pressure on the price of Bitcoin, The Commodity Futures and Trading Commission has filed a complaint against Binance and its Founder Changpeng Zhao, for allegedly violating US trading and derivatives laws. Binance and Zhao are being accused by the CTFC of operating an "inefficient compliance program" and deliberately violating the law. Zhao has tweeted that the CTFC’s allegations are "fake news”.

#fud #Fed #Binance #bitcoin #koinmilyoner

Bitcoin price has broken out from a six-month range consolidation, soaring 13.91% to the current price of $27,787.

BTC could breach the $29,292 resistance level before a run-off to the $36,172 resistance level.

A daily candlestick close below the $22,649 psychological support level could invalidate the bullish narrative.

Bitcoin price has broken out from a six-month range consolidation, in tandem with two momentum indicators as BTC soared by a significant margin. The latest breakout comes amid the recent banking crises that pumped liquidity into the crypto market, causing a surge in prices for most cryptocurrencies. With the fifth range currently in play, here is what to expect from the flagship crypto.

Bitcoin price on course for more gains

Bitcoin price is on course to record more gains for investors after breaking out from five six-month ranges, each with positive indications from the Relative Strength Index (RSI) and the Awesome Oscillator (AO).

Bitcoin price consolidated between January and June 2012 before a 247% breakout. In the same way, the king crypto broke out from a six-month-long consolidation between November 2016 and May 2017, soaring around 4200% to the zone above $15,000. There was another bullish move around November 2020 after a six-month consolidation, catapulting BTC almost 470% to the $44,700 range and a fourth one around October 2020 that saw the flagship crypto escape almost 770% northward.

With the fifth one currently in play, an increase in buying pressure from current levels could see Bitcoin price shatter past the immediate $29,292 resistance level. A decisive flip of this barrier into a support level would add credence to the bullish thesis.

In highly bullish cases, Bitcoin price could break past the $36,172 equilibrium to tag the next obstacle at the $46,589 level. Such a move would constitute a 67.80% increase from the current level.

On-chain data, as presented by IntoTheBlock, also supports the bullish case for Bitcoin price. This fundamental index identifies investors' average purchase price of a cryptocurrency versus its current price. Its statistical model analyses crypto addresses (wallets) that bought the asset at an average price above or below the current market price.

Based on the on-chain metric, Bitcoin price faces the next resistance level around the $28,606 and $33,399 price range. This was an important supplier congestion zone because 1.4 million addresses bought 543,250 BTC at an average price of $30,823 around this area.

A successful attempt to push Bitcoin price past the zone mentioned above would add credence to the bullish narrative, inspiring immense buying from the investor cohort who may wish to record more gains. The ensuing buying pressure would cause BTC to increase even further.

Industry pundits like @Balaji are also very optimistic about Bitcoin price soaring, to the extent that he is betting $1M that BTC will surpass the $1 million mark in less than 90 days.

Conversely, if investor appetite takes over, Bitcoin price could drop towards the $22,649 support level or, in dire cases, tag the $20,000 psychological level. Such a move would denote a 27% drop from current levels. 

#BTC #Fed #Binance #koinmilyoner #BNB

Ethereum price rallied over 10% and broke the $1,600 resistance against the US Dollar. ETH could continue to rise if it stays above the $1,580 support zone.

Ethereum started a major increase above the $1,565 resistance zone.

The price is trading above $1,580 and the 100 hourly simple moving average.

There was a break above a crucial bearish trend line with resistance near $1,480 on the hourly chart of ETH/USD (data feed via Kraken).

The pair could correct lower, but dips might be limited below the $1,580 support.

Ethereum Price Surges Over 10%

Ethereum price spiked towards the $1,370, where the bulls took a stand. ETH formed a base and started a strong increase above the $1,450 resistance, similar to bitcoin.

There was a clear move above the $1,500 and $1,565 resistance levels. Besides, there was a break above a crucial bearish trend line with resistance near $1,480 on the hourly chart of ETH/USD. Finally, the pair surpassed the $1,600 resistance and traded as high as $1,636.

Ether price is now trading above $1,580 and the 100 hourly simple moving average. It is consolidating gains and trading above the 23.6% Fib retracement level of the upward move from the $1,370 swing low to $1,636 high.

On the upside, the price is facing resistance near the $1,630 zone. The first major resistance is near the $1,680 zone. The next major resistance is near the $1,700 level.

The main resistance is still near the $1,740 zone. A close above the $1,740 resistance zone might start a major uptrend. In this case, the price may perhaps rise towards the $1,850 resistance level.

Dips Limited in ETH?

If ethereum fails to clear the $1,630 resistance, it could start a downside correction. An initial support on the downside is near the $1,580 level.

The next major support is near the $1,560 zone. If there is a break below $1,560, the price might drop towards $1,500. It is near the 50% Fib retracement level of the upward move from the $1,370 swing low to $1,636 high. Any more losses might call for a test of the $1,430 level.

Technical Indicators

Hourly MACD – The MACD for ETH/USD is now losing momentum in the bullish zone.

Hourly RSI – The RSI for ETH/USD is now in the overbought zone.

Major Support Level – $1,580

Major Resistance Level – $1,630

#Ethereum #ETH #koinmilyoner #buildtogether #Bullish

Bitcoin has died over 473 times according to media headlines, yet it always rises from the grave and rallies onward. A resurrection of the crypto market could be happening right now, as Bitcoin price has reclaimed the dreaded “death cross” on the 1-week timeframe.

Here’s a closer look at the moving average crossover that had the whole crypto market in fear, and what might happen now that it has been reclaimed.

The website 99 Bitcoins keeps track of each time the media mentions that BTC has died. Each mention must be “explicit about the fact that Bitcoin is or will be worthless” and the content must be “produced by a person with a notable following or a site with substantial traffic.” No small fries, or ambiguous “maybe Bitcoin could be dead” declarations are allowed.

The result is more 473 times BTC has been declared deceased. Every single time, Bitcoin has proven them wrong. But for the first time in history, crypto bears had a reason to be so negative. For the first time in the entire history of BTCUSD price charts, the top cryptocurrency by market cap formed a “death cross” of the 50-week and 200-week moving averages.

A death cross forms when the shorter moving average passes through the longer moving average from above. A golden cross forms when the same signal happens from below. Each signal tells investors that the long-term trend could be changing.

The death cross itself is bearish, which gave bearish crypto traders plenty of reason to stay short. But with Bitcoin now above it, a decision will have to be made: cover now, or stay the course with added risk of being stopped out higher.

Reclaiming Crossover Leaves Crypto Bears With Little Left To Cling To

With the death cross a proven bearish signal, the first-ever death cross forming in Bitcoin was another dangerous blow to already negative sentiment. BTCUSD 1W price charts are now above the two moving averages, potentially causing bearish traders to sweat.

The death cross on the weekly, and BTCUSD below the 50-month moving average were two of bears’ best arguments for why a new bull trend was nowhere in sight. Bitcoin also reclaimed the key moving average on the higher timeframe as well.

Finally, daily price charts have confirmed golden cross, and the longer-term moving average is beginning to turn upward – another bullish signal. Across the various timeframes there are still conflicting signals. However, with each moving average reclaimed, the bearish narrative is rapidly weakening.

#BTC #Binance #BNB #BullRun #koinmilyoner