In today's article, we will focus on why the technology on #Arbitrum is so exceptional and why so many projects are being built on it. It can be expected that Arbitrum has a truly great future ahead, and we will look at the main reasons why this is the case.
Arbitrum is a blockchain technology designed to improve the scalability and efficiency of #Ethereum , a leading platform for smart contracts. Arbitrum achieves its goals through a technique called "rollups," which allows transactions to be processed off the main Ethereum blockchain ("off-chain") and then submits only summarized data back to the main network ("on-chain").
Here's how it works:
1. Off-Chain Computations: Transactions and computations are carried out off the main Ethereum blockchain in an "off-chain" layer. This means that instead of every transaction being processed and verified by all participants of the Ethereum network, these steps are carried out off the main network.
2. Rollups: The rollup technique summarizes the results of these transactions into a single data packet, which is then sent back to the Ethereum blockchain. This significantly reduces the amount of data that needs to be processed and stored on the main network, increasing its scalability and efficiency.
3. Security and Consensus: Although most transactions occur off-chain, the security of #ARB rollups is still ensured by the security of the Ethereum blockchain. This means that even though transactions are carried out off-chain, the final consensus and confirmation still depend on the Ethereum network.
4. Interoperability with Ethereum: Arbitrum is designed to be fully compatible with Ethereum. This means that developers can easily migrate existing smart contracts from Ethereum to Arbitrum without needing significant code modifications.
5. Price prediction: With Michaël van de Poppe’s bullish perspective and Arbitrum’s current trajectory, the crypto community keenly observes the token’s progress. The anticipation revolves around whether Arbitrum can sustain its growth and achieve the projected $2 milestone in short term. Arbitrum’s recent surge and the projections by Michaël van de Poppe highlight a moment in the cryptocurrency market. Near term target $5 and 2024 target $10-15.
Thanks to these features, Arbitrum enables faster and cheaper transactions without compromising the security and decentralization provided by the Ethereum network. This makes it an attractive choice for developers and users looking for more efficient solutions for executing smart contracts and blockchain-based applications.
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Solana’s meteoric rise in recent months hit a snag on Thursday, plunging 8% as the price slipped below $100. This crash is a stark reminder of the crypto market’s volatility and was partly fueled by profit-taking from some of Solana’s biggest whales.
A single whale, identified by Lookonchain, dumped 303,756 SOL ($38.2 million) on Binance, likely triggering a wave of selling. This was also not this whale’s first time, as data shows this particular whale has a history of strategic SOL trades, reaping hefty profits along the way.

In September, the whale withdrew SOL at $20, then deposited it again at $43 in November, pocketing a cool 115% profit. Even after this recent sale, the whale still holds a sizable stake worth over $17 million.
Despite recently flipping XRP on the market cap rankings and surging past BNB to #4, these transactions pushed SOL down enough for BNB to surpass it again in the rankings.
However, this wasn’t a solo act. Social media buzz from whale trackers indicates further large SOL transfers from private wallets to exchanges, suggesting widespread profit-taking or risk reduction among whale investors.
Two particularly notable transactions included the movement of $183 million in SOL to Coinbase and $11.5 million to the same exchange from another private wallet. These transactions, coupled with traders shifting funds from SOL into stablecoins, created a domino effect, sending the price crashing before settling at $98.
Can Solana (SOL) Recover?
Despite the dip, it’s important to remember the bigger picture. The SOL community has witnessed tremendous growth this year, and even with $18.6 million in liquidations, mostly through long positions, Solana has already clawed back to $105.88, showing a 6.57% in 24 hours, demonstrating its enduring bullish momentum.
Solana has also experienced a 6.39% surge in trading volume. Its current trading volume of $45 billion shows the bulls doing their best to keep their digital asset afloat and not yielding any ground to a further decline.
The recent surges have shown that SOL has potential, and this performance is enough to strengthen the faith of the Solana community despite this minor setback.
Some of the top crypto analysts recently revealed the reasons for their bullish stance on Solana and three other cryptocurrencies, and it will be intriguing to see how Solana’s recovery progresses as we enter the new year.
#SOL #Solana

Intraday trading is a method of investing in cryptocurrencies where the trader buys and sells cryptocurrencies on the same day without any open positions left by the end of the day. Hence, intraday traders try to either purchase a cryptocurrency at a low price and sell it higher or short-sell a cryptocurrency at a high price and buy it lower within the same day. This requires a good understanding of the market and relevant information that can help them make the right decisions. In the cryptocurrency market, the price of a cryptocurrency is determined by its demand and supply among other factors.
Tools such as candlestick chart patterns offer great help to traders. We will talk about these Candlestick Charts and offer steps to help you read them.
What are Candlestick Graphs/Charts?
Candlesticks are a visual representation of the size of price fluctuations. Traders use these charts to identify patterns and gauge the near-term direction of price in the cryptocurrency market.
Composition of a Candlestick Chart
This is how a candlestick chart pattern looks like:


As you can see, there are several horizontal bars or candles that form this chart. Each candle has three parts:
The BodyUpper ShadowLower Shadow


Also, the body is colored either Red or Green. Each candle is a representation of a time period and the data corresponds to the trades executed during that period.
A candle has four points of data:
Open – the first trade during the period specified by the candleHigh – the highest traded priceLow – the lowest traded priceClose – the last trade during the period specified by the candle
How to Analyze Candlestick Chart for Cryptocurrencies
The body of the candle in a candlestick chart represents the opening and closing price of the trading done during the period for a particular cryptocurrency. Understanding this is crucial for candlestick trading. Traders can quickly see the price range of the cryptocurrency for the said period by looking at the chart. Moreover, the color of the body indicates whether the price is rising or falling. For instance, if a candlestick chart for a month with each candle representing a day has more consecutive red candles, then traders know that the cryptocurrency's price is falling.
Vertical lines called wicks or shadows above and below the body show the highs and lows of the traded price of the cryptocurrency. Traders can use this information to analyze the sentiment of the market towards the cryptocurrency.
Candlestick Chart Patterns
Candlestick charts are an excellent way of understanding investor sentiment and the relationship between demand and supply, bears and bulls, greed and fear, etc., in the cryptocurrency market. Traders must remember that while an individual candle provides sufficient information, patterns can be determined only by comparing one candle with its preceding and next candles. To benefit from them, it is important that traders understand patterns in candlestick charts.
Let's divide the patterns into two sections:
Bullish PatternsBearish Patterns
Analyzing these patterns can help traders make informed decisions about buying or selling cryptocurrencies.
Bullish Patterns
Hammer pattern
This is a candle with a short body and a long lower wick. It is usually located at the bottom of a downward trend. It indicates that despite selling pressures, a strong buying surge pushed the prices up. If the body is green, it indicates a stronger bull market than a red body.


Inverse Hammer pattern
This is a candle with a short body and a long upper wick. It is usually located at the bottom of a downward trend too. It indicates buying pressure followed by selling pressure. It also indicates that buyers will soon have control.


Bullish Engulfing pattern
This is a pattern of two candlesticks where the first candle is a short red one engulfed by a large green candle. It indicates a bullish market that pushes the price up despite opening lower than the previous day.


Piercing Line pattern
This is a two-candle pattern having a long red candle followed by a long green candle. Also, the closing price of the second candle must be more than half-way up the body of the first candle. This indicates strong buying pressure.


Morning Star pattern
This is a three-candle pattern that has one candle with a short body between one long red and a long green candle. There is usually no overlap between the short and the long candles. This is an indication of the reduction of the selling pressure and the onset of a bull market.


Three White Soldiers pattern
This is a three-candle pattern that has three green candles with small wicks. These candles open and close higher than the previous day. After a downtrend, this is a strong indication of an upcoming bull trend.


Bearish Patterns
Hanging Man pattern
This is a candle with a short body and a long lower wick. It is usually located at the top of an upward trend. It indicates that the selling pressures were stronger than the buying thrust. It also indicates that bears are gaining control of the market.


Shooting Star pattern
This is a candle with a short body and a long upper wick. It is usually located at the top of an upward trend too. Usually, the market opens higher than the previous day and rallies a bit before crashing like a shooting star. It indicates selling pressure taking over the market.


Bearish Engulfing pattern
In candlestick chart analysis, this is a pattern of two candlesticks where the first candle is a short green one engulfed by a large red candle. It usually occurs at the top of an upward trend. It indicates a slowdown in the market rise and an upcoming downtrend. If the red candle is lower, the downtrend is usually more significant.


Evening Star pattern
This is a three-candle pattern that has one candle with a short body between one long red and a long green candle. There is usually no overlap between the short and the long candles. This is an indication of the reversal of an upward trend. This is more significant if the third candle overcomes the gains of the first candle.


Three Black Crows pattern
This is a three-candle pattern that has three consecutive red candles with short wicks. These candles open and close lower than the previous day. After an upward trend, this is a strong indication of an upcoming bear market.


Chart patterns can be used to understand trends and sentiment of the cryptocurrency markets. There are several other patterns to explore in order to gain a deeper understanding of market movements. Use this as a starting point and continue to learn and refine your analysis skills.

Happy trades and successful investments!
🤜🤛

#candles
#learning
#tradingStrategy

$BTC $ETH $BNB

A new milestone was just hit by Solana in the month of December, as the cryptocurrency maintains its pattern of unprecedented growth throughout this year. Because of the nearly twofold increase in price that Solana has seen since the beginning of the month, its popularity among consumers has increased. Along the same lines as this pattern, the Solana blockchain has seen an amazing rise in the amount of user involvement over the course of this month.
Although there is still one week left in the month, the monthly activity level of Solana's addresses has surpassed its previous highest point this year, achieving a new milestone of over 16.45 million in December. This is despite the fact that there is still one week left in the month.
In the meantime, data that is stored on the blockchain indicates that the total number of new addresses that have been created in this month alone has surpassed 7.23 million. This rise in the number of new users flocking to the network may be an indication that the price of SOL is likely to reach $200 in the near future.
Solana's Increasing Activity and Utilization of the Network
More than most people would have anticipated, Solana's popularity has increased this year. Solana's market value increased as a direct consequence of this, and it quickly surpassed both XRP and BNB to become the most valuable cryptocurrency in the world.
On-chain statistics from The Block indicates that the number of active addresses associated with Solana has been increasing since October, peaking at 981,380 daily transactions on December 21. This represents a new yearly record for the cryptocurrency. In the meanwhile, the number of transactions that took place in December attained a new all-time high of 16.45 million, exceeding the total of 15.24 million that was recorded in January.

Since November, when the trading volume for Solana was $86.86 billion, the current trading volume for this month is $183.99 billion, representing a 111% growth from that amount. Additionally, the blockchain has exceeded Ethereum in terms of DEX volume for a period of seven days for the very first time in history. The entire value that is locked on Solana's DeFi protocols is estimated by DeFiLlama to be $1.492 billion, which is a 580% increase over the $210.47 million that was locked on January 1.

What Possible Effects Could Increased Network Usage Have On The Price Of Solana
Solana's popularity and worth are soaring as a result of the increasing number of individuals that engage with the network on a daily basis. The usefulness of Solana is increased, and the SOL token becomes more valuable and useful as a result of the active addresses' ability to carry out transactions, stake SOL, and engage with decentralized applications (dApps) on the blockchain.
Within a period of thirty days, the price of BONK, which is Solana's first dog-themed meme token, has increased by 314%. This surge is particularly noticeable in BONK in particular. On the other hand, Solana just achieved a new maximum price for the year, which was $117.
Due to the fact that the cryptocurrency has not been able to achieve this price level since November 2021, reaching $200 would be a significant milestone for SOL. Although the present indicators indicate that there will be more activity in order to reach this price point in the near future, the first level of resistance is located around the price level of $116, and the next level is located around $136.
With a significant break over $136 and a strong overall optimistic feeling in the cryptocurrency industry in 2024, Solana would have the opportunity to continue going higher without any restrictions.
#sol #BinanceWish #BinanceTournament $SOL

The crypto world witnessed a remarkable feat recently, as an investor transformed a modest $242 investment into a staggering $250,000 in less than 24 hours.
This impressive return on investment, achieved through skillful maneuvering in the newly launched Solana-based meme coin MELON, shows the power of the crypto market and why meme coins should not be overlooked.
This remarkable achievement was shared by Lookonchain (@lookonchain), a blockchain analytics platform on X. Lookonchain traced the investment back to its origin, when the investor acquired 38.5 million MELON tokens.
The investor traded in 3 SOL for these tokens, planting the seeds for what would become a harvest worth hundreds of thousands of dollars within a few hours.
A Remarkable Series of Events
Unlike a trader who missed a $70 million opportunity with Shiba Inu (SHIB), this investor walked away with an insane profit. The investor made the purchases in two transactions.
He purchased 21,538,158 MELON with 1.5 SOL in the first transaction and 16,951,948 additional MELON with another 1.5 SOL in the second. With a well-stocked portfolio of MELON, the investor patiently awaited the opportune moment to reap the rewards.
As the market began to move in MELON’s favor, the investor began a series of calculated transactions. The first phase, commencing at 9 AM and extending until noon, witnessed the sale of 22.5 million MELON tokens, bringing 1,562 SOL ($143,000). Despite the massive profit he had just acquired, the investor was not done.
He began a second round at 9 PM, selling an additional 16 million MELON, earning $107,000. After these transactions, the investor locked the final profit in two secure wallets, holding a profit of $107,000, and 16 million MELON. If MELON surges again, this investor could become a millionaire.
This investor’s identity is unknown, and many in the community believe he is a developer of the MELON tokens. However, if these transactions were made by an investor without insider knowledge, the crypto community would have much to learn from his methods.
This story is reminiscent of another investor who recently turned 1.5 SOL to $1.55 million in 16 days. The trader also bought into a new meme coin. If meme coins can keep up these amazing performances, they could be the best trading option for the coming bull run.
⚠️Disclaimer
This content aims to enrich readers with information. Always conduct independent research and use discretionary funds before investing. All buying, selling, and crypto asset investment activities are the responsibility of the reader.
#Solana #SOL $SOL

It would take a well-planned and massive withdrawal of tokens from circulation.

In theory, SHIB tokens might become more valuable due to their increased scarcity.

Shytoshi Kusama, the chief developer of the Shiba Inu (SHIB) cryptocurrency project, recently issued a remark that has the whole community buzzing. Kusama has brought up the prospect of limiting the amount of Shiba Inu in circulation to as little as 0.1 percent of its present volume. Many people, including investors and fans of the cryptocurrency, are talking and speculating about this statement.

The current circulating quantity of SHIB is 580 trillion, and if this idea were to be implemented, it would cause a significant change. Kusama made the comment in reaction to a sardonic offer by an opponent to destroy 99.9% of SHIB tokens, maybe with the money from Shibarium service fees. 

Tough Task

A large portion of the Shiba Inu community has responded favorably to Kusama’s audacious claim. Many SHIB enthusiasts are eagerly awaiting the possible burning of enormous quantities of tokens. Many members of the community share this optimistic outlook and would love to see the value of SHIB rise after drastic supply cuts.

Though difficult, Kusama certainly countered that it is not impossible to accomplish such a feat. But getting to that level of dramatic decrease isn’t easy. It would take a well-planned and massive withdrawal of tokens from circulation to burn up 99.9 percent of SHIB’s supply. Token burns have been executed by the SHIB development team before, although on a lesser scale.

In theory, SHIB tokens might become more valuable due to their increased scarcity as a result of a lower supply. According to CoinMarketCap, at the time of writing, SHIB is trading at $0.00001103, up 1.17% in the last 24 hours.

Highlighted Crypto News Today:

Turkey Taps Specialist for Central Bank’s Crypto Policy Committee

Solana is not exactly a new cryptocurrency, but it has only gained traction and widespread popularity in the last few years. Its astronomical rise upwards has attracted the attention of many investors, helping them discover the project’s high usability and incredible functionality. With so many people jumping in on the Solana foundation hype, many of them are left wondering whether the coin is a good long-term investment or if they should dump whatever coins they have bought before it plunges any deeper.Unfortunately, we cannot give you financial advice and won’t be able to tell you what to do with your coins — that is something you should decide for yourself. However, Solana is a really interesting project, and we’d like to examine the potential it may have in the near future.Without further ado, let’s take a look at our Solana price prediction!Solana Statistics :Solana Price: $93.9Solana Price Change 24h: 9.36%Solana Price Change 7d: 34.41%Solana Market cap: $13,454,634,610.64Solana Circulating Supply: 416,863,670 SOLSolana Trading Volume: $1,510,243,008.74Solana All time high: $260.06Solana All time low: $0.51Solana Price Prediction 7d: $88.03 --5.6Solana Fear-Greed Index: 70 GreedSolana Sentiment: BullishSolana Volatility: 11.09%Solana Green Days: 16/30 (53%)Solana 50-Day SMA: $58.35Solana 200-Day SMA: $30.83Solana 14-Day RSI: 67.69Our real-time SOL to USD price update shows the current Solana price as $93.9 USD.According to our Solana price prediction, SOL price is expected to have a -4.43% decrease and drop as low as by December 23, 2023.Our analysis of the technical indicators suggests that the current market feeling is Bullish Bearish 10%, with a Fear & Greed Index score of 70 (Greed).Over the last 30 days, Solana has had 16/30 (53%) green days and 11.09% price volatility.Solana (SOL) Technical OverviewWhen discussing future trading opportunities of digital assets, it is essential to pay attention to market sentiments. #sol #SolanaGems #Solana.blockchain #solanaphone

Starting November 13, we will select 3 users each week to win different Binance merchandise for simply posting trending topic content on Binance Square!
Activity Period: Every Monday from 07:00 (UTC) to 07:00 (UTC) the following Monday, until January 1 2024 at 23:59 (UTC).

How to Get Started?
Simply publish an article on Binance Square following our daily trending topics and content guidelines detailed in this form, and submit the URL.
Unlimited Entries: Multiple submissions are allowed, but each eligible user is only entitled to 1 reward per week.Content Requirements: Articles must be at least 300 words, include the trending hashtag and a relevant image. Short posts or videos are not eligible.Timely Submissions: Articles must be submitted within the active period for each specific trending topic, which resets daily from Mon-Fri at 07:00 (UTC).Engagement Matters: Your content must gather at least 5 interactions (including likes, comments, or shares) to be qualified.

Let your creativity shine – we're eagerly awaiting your entries! Check out the daily trending topics, and submit your content here.

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This campaign may not be available in your region.Submissions will be evaluated by a panel from the Binance Square team, based on topic relevancy, article formatting, research quality, factual sourcing, and originality to ensure authenticity. Articles must also align with campaign rules.Winners will be announced via the [Binance Square Official Account](https://www.binance.com/en/feed/profile/Binance_Square_Official) before next Friday.Winners will receive a random Binance merchandise as their reward. Winners of this week will be notified via [Square Assistant](https://www.binance.com/en/feed/secretary) push before next Friday.Binance reserves the right at any time in its sole and absolute discretion to determine and/or amend or vary these terms and conditions without prior notice, including but not limited to canceling, extending, terminating or suspending this campaign, the eligibility terms and criteria, the selection and number of winners, and the timing of any act to be done, and all participants shall be bound by these amendments.Binance reserves the right to disqualify any account acting against the [Binance Square Community Guidelines](https://www.binance.com/en/support/faq/binance-square-community-management-guidelines-ecb50ef2012f40b2a2c4f72eaa5b569f) or [Terms and Conditions](https://www.binance.com/en/support/faq/binance-square-community-platform-terms-and-conditions-5dfcea5fbc0d4c4c9c90c2597f3da358).

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Join the Futures Grand Tournament and compete for 2 Million USDT in prizes! Share your tournament insights on Binance Square and get a chance to win from an EXCLUSIVE 5,000 USDT prize pool.
How to Win?
Simply create an original content piece related to your tournament experience or insights on Binance Square during the Campaign Period, and mention “#BinanceTournament ".Make sure each of your posts/articles receives at least three interactions (likes, comments, or shares).
Remember, share your posts to draw more interactions from your friends and other Binance Square community members. The more interactions you gather, the higher your chances of winning!

Promotion A: Community Engagement Pool (3,000 USDT in token voucher)
All users who create an eligible content piece during the Activity Period will qualify for an equal share of the 3,000 USDT rewards pool.

Promotion B: Top Contents Pool (2,000 USDT in token voucher)
The top 10 posts with the #BinanceTournament hashtag having the highest 'like👍' reactions (other emojis reactions will not be counted) will be rewarded as follows:

Terms & Conditions
This activity may not be available in your region. Only #BinanceTournament related content pieces (including posts and articles) that include the #BinanceTournament hashtag and receive at least 3 engagements (i.e., the total number of emojis, comments, or shares) during the Activity Period, will qualify as eligible content pieces. Any cases of hashtag abuse will lead to exclusion from the campaign.Only original, new content qualifies. Previous submissions are ineligible.You can create multiple content and potentially win in both promotions. However, each user is only entitled to 1 reward in promotion B.
Winners will be notified via a push notification under Creator Center > [Square Assistant](https://www.binance.com/en/feed/secretary) within 15 working days after the activity ends. The USDT token voucher rewards will be distributed within 15 working days after the activity ends. Users may check their rewards via Profile > [Rewards Hub](https://www.binance.com/en/rewards-hub). The validity period for the token voucher is set at seven days from the day of distribution. [Learn how to redeem a voucher](https://www.binance.com/en/support/faq/what-are-binance-vouchers-and-how-to-redeem-acb5e3f3e3024506b8f4cedefe334d0e).Binance reserves the right to disqualify any account acting against the [Binance Square Community Guidelines](https://www.binance.com/en/support/faq/binance-feed-community-management-guidelines-ecb50ef2012f40b2a2c4f72eaa5b569f) or [Terms and Conditions](https://www.binance.com/en/support/faq/binance-feed-community-platform-terms-and-conditions-5dfcea5fbc0d4c4c9c90c2597f3da358).Binance reserves the right at any time in its sole and absolute discretion to determine and/or amend or vary these terms and conditions without prior notice, including but not limited to canceling, extending, terminating or suspending this activity, the eligibility terms and criteria, the selection and number of winners, and the timing of any act to be done, and all participants shall be bound by these amendments. Binance reserves the right of final interpretation of this activity.This Campaign and the Futures Grand Tournament is only available to users who are eligible for Binance Futures trading and may not be available or may be restricted in certain jurisdictions or regions or to certain users, depending on legal and regulatory requirements. 

Hi Binancians,
The latest updates to Binance Square are available in app version 2.75. We encourage you to update your app for an improved and more efficient browsing experience. Here is a detailed overview of our new features:
Reply with PicturesYou can now upload pictures when replying to, or participating in discussions under each post on Binance Square.Anti-Scam Related OptimizationBinance Square has implemented anti-scam measures for safer community interaction:Simplified Reporting Flow: Easily report scams or spams using the 3-dot menu beside posts/replies. We will notify you after our review.Note: This feature is currently available only on the website; support for the app is coming soon.Reply Restrictions: To maintain quality interactions, users without wallet assets can only reply thrice every 7 days on Binance Square.Bio Update Limit: Each user can only update their bio once per calendar year.Market News & Community Discussion on Trading PageOn the 'Square' tab under each trading page, you can find token-related news and official updates in the 'Market', alongside KOL opinions and trader insights under "Community". Feel free to engage in informative token discussions with the Binance Square community.Note: This feature is currently available only in-app, support for website is coming soon.Post Creation on Lite AppClick '+' on the 'Square' tab at the bottom right corner in the Binance Lite app to share your thoughts with the community.Show Post Count on Profile PageThe total number of posts by each creator will be displayed on their profile page.Search creators and content on WebIf you're looking for specific content or creators, simply enter keywords or the creator's name in the search bar on the Binance website.Creator Recommendations Based on Friends' FollowingThe system will automatically suggest creators to follow based on the preferences of your friends, enriching the social networking experience within the community.Web UI EnhancementThe Binance Square web interface now features a smoother user experience with the addition of a fixed navigation bar on the left side of the home page. This provides quick access to notifications, trending articles, settings, post buttons, and more for quick interaction.
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