Alnoihi

By 2027, the expected market value of cryptocurrencies is expected to reach $24 trillion, equivalent to 10% of global GDP. So, we can clearly say that digital assets are booming. Many companies use cryptocurrencies. For example, in the financial and technological sectors. Tesla and Square have invested $1.5 billion and $50 million in Bitcoin respectively, while giants such as JP Morgan, Citigroup, Wells Fargo, and PNC are implementing blockchain for the infrastructure to support various digital assets.

ShareRing recently launched the Near Field Communication (NFC) technology and they improved the functionality of the FaceMatch feature.

In an earlier announcement, ShareRing divulged that access to NFC technology and revamped FaceMatch will only apply to users who register using their government-issued documents like passport and national identity cards, thereby permitting them to use any of ShareRing’s tools, including ShareRing ID and ShareRing Vault.

ShareRing is at the forefront of guarding user privacy and is building an expansive ecosystem reliant on blockchain technology with features that allow individuals and entities to use their digital identities in the real world. At the core of ShareRing is the ShareRing ID, a solution for users to issue, store, verify, and share critical information like bank details safely and securely. Through the ShareRing Vault anchored on the ShareLedger leased Proof-of-Stake blockchain, data will be stored securely and only shared with those authorized by the owner.

To better deliver to users and safeguard their details in the increasingly interconnected world, ShareRing will use NFC technology to build a robust electronic KYC solution. Through the properties made possible by NFC, ShareRing will, at any point in time, prove that the owner of any of its accounts is who they claim to be because registration was based on government-issued and stamped documents. The NFC technology introduces another layer of security, leading to more trustworthiness and effectively weeding out fraud. Because provenance will be a two-step process, ShareRing released an improved version of its face-recognition tool, FaceMatch, reducing errors and ensuring a smooth onboarding process.

ShareRing has also revealed that from September 22th, 2022, $SHR holders can directly swap between BNB Smart Chain to ShareLedger, the native blockchain of the utility token. $SHR is used to pay transaction fees, and all related transactions are tracked on ShareLedger. The announcement is a relief for $SHR holders who had to move tokens between the BNB Chain via the open source, non-custodial Binance wallet before converting to an ERC-20 token through the Multichain Bridge and moving them to ShareLedger (ShareRing app).

The decision, ShareRing reveals, will save valuable time for holders while also improving efficiency. Most importantly, the platform developers note that users won’t be exposed to the fluctuating Gas fees in Ethereum. It is common for transaction fees to shift by huge margins in the first smart contracting platform, inconveniencing users. Because of the latest linkage, $SHR holders won’t have to worry about scaling or fees problems when transferring coins from BNB Smart Chain to ShareLedger, and vice versa.
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#solana #Binance #bitcoin #fakhr #Notcion

In layman’s terms, futures trading is an agreement to buy or sell an asset at a predetermined price later, whether physical or digital. Futures trading is a standard trading method on stock exchanges and other platforms, but cryptocurrency exchanges have incorporated it as a trading option on DeFi. Futures trading is widely accepted in cryptocurrency and is set to become fully mainstream in the DeFi summer of 2020. Despite being in a bear market for the better part of a year, futures trading volume remains strong, with about $1 trillion in perpetual futures trading volume during the second quarter of this year.

A futures contract allows a trader to speculate on the price direction of a commodity, mainly through cryptocurrency exchanges. If a trader purchased a futures contract and the commodity price rose and traded above the original contract price at expiration, the trader would profit. The futures contract—the long position—would be sold at the current price before expiration, closing the long position.

The price differential would be settled in cash in the investor’s account, with no physical product exchanged.

Furthermore, according to TokenInsight research, the annual trading volume for futures last year was around $57 trillion, accounting for more than half of the total cryptocurrency trading volume. In addition, traders can also enter a speculative short position if they believe the underlying asset price will fall. If the price drops, the trader will enter an offset position to close the contract. Again, the net difference would be settled at the contract’s expiration. An investor would profit if the underlying asset’s price was lower than the contract price and lose if the current price was higher than the contract price.

MEXC Leading The Futures Sector
As the popular saying goes, “ liquidity is king.” The liquidity of the digital tokens offered by the trading platform is the key reference point for cryptocurrency traders when assessing the quality of futures trading. The greater the depth of the trading platform’s futures products, the narrower the spread, the more seamless the transaction, and the lower the trading cost. The most important aspect is that, in the event of significant fluctuations in the crypto market, products with greater depth are far less likely to be accidentally liquidated.

According to a study that compared the contract liquidity depth indicators of trading platforms such as Binance, Bybit, MEXC, OKX, Huobi, and Bitget, as well as the futures trading of the top 50 crypto tokens by market value, the leading three platforms in terms of depth performance are MEXC, Bitget, and Binance. Using Bitcoin as an example, the futures trading depth of BTC USDT on MEXC increased from $60 million in early August to $100 million from August 4 to September 1, the highest percentage increase in that period across multiple exchanges.
Deep liquidity helps protect users from liquidations/irregularities in prices whenever there’s a massive dump, usually occurring during the bear market. Futures is an integral aspect of cryptocurrency trading. These are some things to check out before trading in a volatile market such as this for asset security and safety.$BTC
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Concerning inflation
Jerome Powell surprised observers during his speech at the Economic Club in Washington, D.C., when he stated that the Federal Reserve will not wait until inflation reaches 2% before cutting interest rates. This announcement represents a turning point in US monetary policy.

The Fed Chairman justifies this position by pointing to the "long and variable delays" of monetary policy. He believes that waiting too long could push inflation below the 2% target. As a result, the Fed is now seeking "greater confidence" in bringing inflation back to its target. This more flexible approach could stimulate the economy more quickly.

#solana The industry expects a quick launch of the spot Ethereum ETFs. Eric Balchunas, senior analyst at Bloomberg, mentions a probable window around July 23. He specifies:

“The SEC has asked issuers to submit their revised S-1 forms by July 16. This suggests a potential launch as early as the following week.”

Predictions are optimistic regarding the adoption of these new products. Tom Dunleavy, an institutional investor, anticipates massive capital inflows:

“We anticipate about $10 billion in inflows into Ethereum ETFs over the first year, which equates to nearly a billion per month.”

This positive momentum for ETH fits within a broader context of crypto sector growth. Recently, Ethereum dominated the blockchain revenue landscape, generating $2.728 billion compared to $1.302 billion for Bitcoin.

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Bitcoin Whales Unfazed by Mt. Gox Distribution
Over 36% of the Bitcoin owed to Mt. Gox creditors have been distributed, but Bitcoin whales continue to accumulate despite potential sell pressure. The data was given by CryptoQuant on their X post. In the post, they highlight that Mt.Gox trustee currently holds 141,686 BTC, which will be distributed in the future and 36% of BTC is already distributed to the former holders.

Crypto investors are concerned about the impact of the Mt. Gox repayments on Bitcoin prices, with over $9.4 billion owed to approximately 127,000 creditors.

Despite this selling pressure, large Bitcoin holders remain unfazed. According to the Lookonchain data one whale recently purchased 245 BTC worth nearly $16 Million. This whale has made significant profits from previous trades also, highlighting the importance of whale buying patterns in assessing market health and investment opportunities.

In the post Lookonchain wrote, that between August 9 to December 18, 2023, the trader purchased 718 BTC at the price of $29,385 and then sold it for $41,953, making $9 Million.

Between Feb 7 to June 20, 2024, the trader purchased 1,181 $BTC at $48,822 and sold at $66,792, making $21.2 Million.

Bitcoin On The Technical Chart
On the daily technical chart, Bitcoin price is trading in the bullish region above the key exponential moving averages showcasing bullishness.

At the time of writing Bitcoin was trading at $64,838 with a market cap of 1.28 Trillion and the past 24 hours trading volume was 38.03 Billion.

The RSI curve is also trading near the overbought zone at 60.80 above the 14 SMA line suggesting bullish moves in upcoming sessions.

Moreover, the MACD indicator was also turned positive. The MACD line and the signal line formed a bullish cross and headed in the upward direction with green histograms.

If the price breaks the 74,000 level in upcoming sessions then it could start a new bullish rally.

Furthermore, as per Tradingview's technical summary data out of 26 indicators, 3 are on the sell side, 7 are on the neutral side and 16 are on the Buy side indicating buying momentum in Bitcoin price.

Conclusion
Despite the potential sell pressure from the distribution of Mt. Gox Bitcoin, large Bitcoin holders, or whales, continue to accumulate. Over 36% of the Bitcoin owed to Mt. Gox creditors has already been distributed, with the trustee holding 141,686 BTC for future distribution. Crypto investors remain concerned about the impact on Bitcoin prices, with over $9.4 billion owed to approximately 127,000 creditors. However, whales remain unfazed, with significant purchases and profits highlighting the importance of their buying patterns in assessing market health. Technically, Bitcoin is trading in a bullish region, with indicators suggesting potential upward momentum if key levels are broken.