Today’s market analysis: Bitcoin trading volume has shrunk in the past three days, so pay attention to market changes. The United States is currently expected to raise its debt ceiling, and the Federal Reserve will release good news in the short term. Bitcoin is still oscillating in the range of 25,000-28,200, and there is a high probability of testing 28,000-28,300 in the short term. However, after reaching this area, it will fall back to the 25,000 support line. The second half of the year is still dominated by corrections and shocks. Before starting a big bull market, it usually takes an extremely panicked decline to wash away the chips. What do you guys think? #BTC
What does it mean for Tether to use profits to buy Bitcoin?
A few days ago, I was flooded with a hot news story, and I saw that some people didn’t understand the news well enough or even misunderstood it. Here is an explanation of the news for the veterans.
According to BlockBeats, USDT issuer Tether announced on May 17 that starting this month, it will regularly allocate up to 15% of realized net operating profits for the purchase of Bitcoin. Tether expects that its current and future Bitcoin holdings in its reserves will not exceed its shareholder capital buffer and will further strengthen and diversify its reserves. By the end of March 2023, Tether already held approximately $1.5 billion in Bitcoin in its reserves.
Bitcoin fee revenue has recently exceeded block rewards, which may lead to a problem known as a "time-bandit attack." In this case, miners will be more inclined to process transactions with higher fees and ignore transactions with lower or no fees. This behavior could have a negative impact on the security of the Bitcoin network, incentivizing miners to rewrite history, similar to a 51% attack. This will lead to the centralization of the Bitcoin network, transactions may not proceed successfully, and a large number of orphan blocks will be generated. Miners will compete to mine blocks that are beneficial to them, causing the longest chain to keep changing.
This problem may become more serious as Bitcoin’s future halving event approaches. In the next five years, the block reward will be reduced to 1.5625 BTC, which may lead to a vicious cycle.
To address this challenge, the Bitcoin community and core team may promote Bitcoin Layer 2 or Lightning Network.
Veterans must have heard that ORDI has recently increased several thousand times. Here’s a little knowledge about BRC20:
BRC20 is an experimental format standard for issuing fungible tokens on the Bitcoin network. It was created by Twitter user domodata on March 8, 2023 based on the Ordinal protocol. Similar to Ethereum's ERC20 standard, it stipulates the names, issuance amounts, transfers and other functions of tokens issued on Ethereum. All token contracts developed based on Ethereum need to follow the ERC20 standard.
The main difference between BRC20 and ERC20 is that BRC20 is a token on the Bitcoin blockchain, while ERC20 is a token on the Ethereum blockchain. BRC20 does not use smart contracts and does not require the Ethereum Virtual Machine, but utilizes the Ordinal protocol on the Bitcoin blockchain to create and send fungible tokens.
After a period of selection, this time the second batch of zk projects worthy of interaction are released. If you forget "zKsync Airdrop Interactive Guide (1)", you can check the following link:
https://www.binance.com/zh-CN/feed/post/387993
If you haven't even done cross-chain or even don't know how to use Little Fox...then go to the tutorial posted before.
I am not writing this to recommend investment and purchase, but just to let you know what the aidoge is that is promoted and circulated in some groups. Those who participate are responsible for it, and those who do not participate regard it as information accumulation and learning.
Transaction address: https://app.camelot.exchange/ (15% tax is required, and the slippage is set to 20% to make the transaction successful)
Token attributes: meme, plate nature
Total amount of tokens: 2.1x10 to the 17th power
Each transaction is subject to a 15% tax, and the tax collected is distributed as follows: 1% is destroyed; 3% is converted into lottery tickets and randomly awarded to those who purchase AIDOGE; 3% is pledged as a staking reward, and is awarded to the address that pledged AIDOGE; 2% is returned Supplement to the AIDOGE-ETH liquidity pool; 3% purchases ARB, subsidy agreement; 3% is pocketed by the project party.
After the Ethereum Shanghai upgrade was successfully carried out, Ethereum successfully exceeded the 2,000 mark. Many people believe that pledge withdrawals will cause a huge amount of selling, and the long-short ratio has even dropped to 0.5, which shows how many people are bearish and open short positions. I predict that if the long and short cannot match up, Ethereum will definitely continue to rise~~The market will always be on the side of a small number of people. Did you stand on the side with more people or the side with less people this time?
Regarding the rise in market prices in the past two days, there are two main direct drivers: one is the Hong Kong conference, and the other is the launch of Bitcoin market prices by the three major domestic application providers.
Last night, Douyin and Baidu APP successively launched Bitcoin market search. Users directly enter "Bitcoin" in the search box, and the first result directly displays the latest market price, and uses RMB "yuan" as the unit of calculation. This morning, Weibo also joined the ranks, supporting Bitcoin market data.
This news was interpreted by foreign media and Western crypto community KOLs as a positive trend for policy opening. In addition, this week coincides with the 2023 Web3 Hong Kong Blockchain Week, and many Chinese people gathered in Hong Kong, breaking the curse of "every meeting must fall".
B: Technicians who find hidden endpoints (leakages). For example, hackers can see the release of news websites in advance and get ahead of public news.
C: Technical KOL with speed advantage, releases public information.
D: A market long/short robot based on group C’s public tweets. Automated robots are usually always faster than manual traders on selected accounts.
E: High-level manual traders who react quickly and can quickly analyze the impact of news.
Do you still remember the operation of moving ETH from the Ethereum main network to zKsync? If you forget to check here: https://www.binance.com/zh-CN/feed/post/352306
How to interact to win airdrops after ETH crosses zk? Let’s talk about the first series of interaction processes today. Note that this is a series, and there are far more applications to interact with. Other application interaction tutorials will be written later. Please stay tuned to receive updates.
1) Register zk domain name
https://app.zkns.domains/
Register any domain name and choose the cheapest one
Let’s summarize the events that caused a lot of uproar in the ARB community:
Recently, the Arbitrum project has caused controversy in the community because the Arbitrum Foundation began selling ARB tokens before the community approved the token budget, causing the token price to fall. The controversy mainly focuses on the AIP-1 proposal, which aims to establish a decentralized autonomous organization called ArbitrumDAO, governed by ARB holders, to promote the growth and development of the Arbitrum ecosystem.
However, the proposal involves the possible transfer of 750 million ARB tokens originally belonging to the community to the foundation to establish an ecological fund, which makes the community dissatisfied. Some investors also reported that although they held ARB airdrops, they were unable to participate in voting. The community expressed doubts about the transfer of 50 million ARB tokens by the Arbitrum Foundation, suspecting that it made a large cash out prematurely.
Ethereum is about to undergo a Shanghai upgrade on April 12. So what is the Shanghai upgrade? What impact will it have on the market? Here, I will explain to newcomers in vernacular what "Ethereum Shanghai Upgrade" is. After reading this, you can popularize science for currency friends who don't understand~
The Ethereum Shanghai upgrade is an important update to the Ethereum network. Its main purpose is to provide a withdrawal function for Ethereum’s Proof of Stake (PoS) mechanism. Prior to this, Ethereum completed the conversion from the Proof of Work (PoW) consensus mechanism to the Proof of Stake (PoS) consensus mechanism. Users can participate in network verification by pledging 32 ETH. However, the pledged funds cannot be withdrawn before the merger. The Shanghai upgrade, a network hard fork, solved this problem and allowed users to withdraw their pledged funds.