El Salvador buys 1 Bitcoin daily, adds 160 BTC since March 16 !!
As per the latest on-chain data, El Salvadoran Government has been steadily accumulating 1 Bitcoin per day for the past five months. This has added 160 BTC to their holdings.
Data from Arkham Intelligence shared by analyst Ember CN has disclosed that El Salvador has never missed purchasing 1 Bitcoin every day since the past five months. This dedication has added 160 Bitcoin to their BTC holdings.
El Salvador buys 1 BTC every day since March 16
Ember CN mentioned in an X post that the governmentâs cold wallet hasnât missed buying 1 Bitcoin every day since March 16.
According to Arkham data, the El Salvador cold wallet currently holds 5851 BTC. The value of their Bitcoin holdings was around $355.4 million at press time, as per the current BTC market price.
The average cost of purchase is $44,835 and has a floating profit of $93.45 million (+35%).
The El Salvadoran government has been on a relentless BTC buying spree despite the volatile price action of Bitcoin. CoinMarketCap data shows that on March 16, Bitcoin was trading at the $69,000 level.
The following days witnessed the price move as high as $71,000 before plunging to a low of $49,000 earlier this month. However, just like Michael Saylor, the government stuck to their plan to scoop up 1 BTC per day.
#ElSalvadors #ElSalvadorBitcoin #Bitcoinâ #BTCâ
Ethereum â The Never-Ending Sideways Move (And Why It Could End Soon)!
It's day 16. However, it feels like day 116.
While Bitcoin had a couple of breakout attempts and many altcoins are soaring, Ethereum is doing literally nothing.
This is even more surprising when considering Ethereum's ETF launch. Nevertheless, the ETF trading volume has constantly decreased.
As mentioned in other posts, a consolidation like this isn't unusual. On the contrary, it is healthy to build a solid bottom before moving higher. And the move higher could happen sooner than many expect.
One essential indicator to watch in this context is the "Market Value To Realized Value" (MVRV). Typically, this indicator provides valuable insights into an asset's upcoming momentum.
Regarding Ethereum, the MVRV has reached the "opportunity accumulation zone," defining ETH's current price as undervalued.
As a result, Ethereum could follow other altcoins soon and break out of its lengthy consolidation. In this case, 3k should come into play quickly. Moreover, ETF will likely further fuel the uptrend and create additional momentum.
$ETH
$IO IOcoin (IO) is a cryptocurrency that has been experiencing a significant increase in value and trading volume. The bullish trend for IOcoin can be attributed to several factors:
1. *Increased Adoption*: Growing acceptance and usage of IOcoin in various industries and applications.
2. *Improving Technology*: Upgrades and developments in the IOcoin protocol, enhancing its scalability, security, and usability.
3. *Market Sentiment*: Positive market sentiment, driven by investors' confidence and enthusiasm for the project.
4. *Partnerships and Collaborations*: Strategic partnerships and collaborations that expand IOcoin's reach and potential.
If these factors continue to drive the demand and growth of IOcoin, the bullish trend may persist. Some possible indicators of a continued bullish trend include:
1. *Higher Highs and Higher Lows*: The price of IOcoin continues to break through new highs and establish higher lows.
2. *Increasing Trading Volume*: Growing trading volume, indicating increased interest and participation.
3. *Technical Indicators*: Positive signals from technical indicators, such as RSI, MACD, and Bollinger Bands.
Please note that the cryptocurrency market is highly volatile, and prices can fluctuate rapidly. This is not investment advice, and it's essential to conduct thorough research and consider multiple perspectives before making any investment decisions.
For more accurate and up-to-date information, I recommend checking reliable cryptocurrency data platforms, such as CoinMarketCap, CoinGecko, or TradingView.
$KSM /USDT
Sure, here's a 200-word post on identifying support and resistance in trading:
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**Spotting Support and Resistance in Trading**
Support and resistance levels are key concepts in technical analysis that help traders make informed decisions. **Support** is the price level at which an asset tends to stop falling due to increased buying interest. Think of it as a "floor" where the price has historically bounced back. Conversely, **resistance** is the price level where an asset tends to stop rising, as selling interest increases. This acts as a "ceiling," preventing further price increases.
Identifying these levels involves analyzing past price action on a chart. For example, if a stock repeatedly falls to a certain price and then rises, that price is considered a support level. Similarly, if a stock repeatedly rises to a certain price and then falls, that price is viewed as a resistance level.
Traders use these levels to make trading decisions. A break below support might signal a further decline, while a break above resistance could indicate further gains. However, these levels are not absolute and can change over time. Combining support and resistance with other indicators and analysis can provide a more comprehensive trading strategy.
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This post offers a concise explanation of the concepts, making it suitable for social media or a blog.#MtGoxRepayments #BinanceLaunchpoolDOGS #PowellAtJacksonHole #CryptoMarketMoves #BinanceBlockchainWeek
{spot}(KSMUSDT)
Justin Sunâs USDD Stablecoin Loses Bitcoin Backing
The move leaves USDD reliant on Tron's native token, TRX, which has surged with a recent meme coin push
The USDD stablecoin, issued by the TRON DAO Reserve, has lost its Bitcoin backing with the removal of 12,000 BTC from its formerly listed collateral address. Without the Bitcoin, worth around $726 million, USDD is now primarily backed by TRX, the native token of the Tron blockchain.
The moveâspotted on X on Tuesdayâwas made without any apparent official action by the TRON DAO. Responding to reports of the shift, Tron founder Justin Sun said on X (aka Twitter) that what's happening is ânot mysterious.â
âAny collateral holder can withdraw any amount freely without anyone's approval,â Sun wrote, comparing the operation to that of MakerDAO. He said that USDD was not capital efficiant, and had a âlong-term collateralization rateâ of more than 300%.
âThe TRON DAO Reserve plans to spend time upgrading USDD in the future to make it a more competitive decentralized stablecoin in the market,â Sun added.
His declaration of the DAOâs plans did not address whether the ostensibly decentralized organization was involved in the change.
USDD was originally an algorithmic stablecoin, similar to Terraâs algorithmic stablecoin USTâwhich spectacularly collapsed in May 2022. It was then converted into a hybrid model where it would be backed by collateral including Bitcoin, TRX, USDT, and USDC.
The market cap of USDD, which is pegged to the U.S. dollar, is around $744 million, according to CoinGecko data. It remains among the top 100 cryptocurrencies by market capâalbeit just barely, ranked 96thâand was recently surpassed by a PYUSD, a new stablecoin from PayPal.
TRX, now the source of its primary backing, is more volatile, holding on to a top 10 spot excluding stablecoins. Currently trading for $0.15, it has surged in recent weeks as Tron and Sun have leaned heavily into leveraging it as a memecoin marketplace.
TRX is up more than double its value a year ago, with a $13.5 billion
{spot}(TRXUSDT)
Factors Influencing Profitability in 2024
A crypto mining farmâs profitability is mainly determined by several important factors, including the cost of the hardware, energy usage, price of the cryptocurrency, and network difficulty. Understanding these components is crucial in evaluating the feasibility of a mining enterprise.
Mining rig acquisitions continue to be expensive. Setting up mining hardware, such as GPUs, FPGAs, and ASICs, comes at a significant upfront cost. However, as technology advances, efficiency and energy usage continue to rise, increasing the viability of initial investments over time.
Another important consideration is energy expenses. For mining farms, energy costs are a substantial operational expense. Areas with cheap energy expenses are more advantageous than others. New developments in renewable energy sources and energy-efficient mining equipment contribute to reduced operating costs, which boosts profitability even further.
The dynamics of the cryptocurrency market are also quite important. The profitability of mining Bitcoin is heavily influenced by its value. While price reductions can lower revenues, higher pricing can yield more significant returns. Furthermore, the difficulty rises with more miners joining the network, requiring more processing power to provide the same payouts.
The regulatory framework also influences mining profitability. It is crucial to abide by national and international laws, notably those about taxes and the environment. Regulations that prohibit, reward, or subsidise the use of renewable energy sources can impact the mining sector and the overall profitability of mining operations. Anyone attempting to determine if a Bitcoin mining farm will be profitable in 2024 needs to be aware of these issues.
Bitcoin Halving Outcome on Mining Rewards
While Bitcoin is the most popular cryptocurrency mined, understanding its network dynamics can remain critical to mining profitability. The most important event that affects the Bitcoin network is the so-called Bitcoin halving.
How tokenizing real-world assets could unlock new revenue for creators
The prospect of tokenization is offering new opportunities for artists and communities to unlock their value
Tokenization is transforming how value is created and shared online, extending far beyond traditional financial assets.
In a recent discussion, Roundtable anchor Rob Nelson and Sam Price, host of CryptoLifer, explore the vast potential of tokenizing everything from celebrity content to grassroots projects. Their insights reveal a future where artists, creators, and professionals can take control of their value in unprecedented ways.
Nelson kicked off the discussion by emphasizing that the scope of tokenization isn't limited to just financial assets. He points out that virtually anythingâwhether it's a person, product, or serviceâcan be tokenized, allowing creators and professionals to monetize their value in new ways.
In many ways, creators are already experimenting with ways to unlock their value onchain. Former President Trump has earned millions by selling his own collectible cards as NFTs (non-fungible tokens.) "Imagine Taylor Swift being worth $3 billion if she was tokenized," Nelson suggests, illustrating the enormous potential for celebrities and influencers to capitalize on their brand. Forbes estimates Taylor Swift's current net worth at $1.3 billion.
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Tron-based SunPump memecoin generator flips PumpFun in daily revenue !!
- SunPump, launched just last week, overtook its major Solana-based rival, PumpFun, in 24-hour revenue on
- Wednesday.SunPumpâs revenue amounted to around $548,000 yesterday, while PumpFun generated about $367,000, data shows.
SunPump, a Tron  TRX +3.38%-based memecoin generator, has flipped PumpFun in 24-hour revenue as the new memecoin developer appears to start gaining traction.
On Wednesday, SunPump saw about 7,531 launched through the generator, generating daily revenue of 3.65 million TRX, or about $548,000 based on TRXâs current price, according to data from Dune.Â
On-chain data showed that that surpassed PumpFunâs daily revenue of 2,575 SOL, worth about $367,195. On Wednesday, about 6,941 tokens were created with PumpFun.
Launched last week, SunPump has been used to generate memecoins, with some seeing significant price fluctuations. Sundog, for example, jumped 25% at one stage yesterday to change hands at about $0.25, but it has retreated to $0.21 at the time of writing, down 12.6% over the past 24 hours, according to CoinGecko. The memecoinâs market capitalization currently stands at $216 million after briefly eclipsing $250 million on Wednesday.
Meanwhile, PumpFun has facilitated the generation of more than 1.8 million tokens since launching in January.
Tron Founder Justin Sun has been posting intensively on X about SunPump over the past few days and even added a link to the memecoin generator in his profile bio.Â
âTomorrow, a new version of @sunpumpmeme will be launched, significantly improving stability. The data discrepancies and K-line issues everyone reported will also be fully resolved. TO THE SUN,â Sun wrote in a post.
The price of Tronâs TRX token slid 4.25% over the past 24 hours to change hands at $0.15, but it has risen 15.56% during the past week, according to The Blockâs price page. Its market cap now stands at $13.3 billion. @khannamirr
#TRONNetwork's #JustinSun #MemeCoinsToTheMoon #Write2Earn! #BinanceSquareFamily
#BinanceLaunchpoolDOGS #BinanceLaunchpoolDOGS #LowestCPI2021 #PowellAtJacksonHole P2P (Peer-to-Peer) scams on Binance or other platforms typically involve fraudulent individuals posing as legitimate buyers or sellers. They aim to deceive and steal funds or personal information. Here are some common P2P scams and tips to recognize scammers:
*Common Scams:*
1. *Fake Payment Scam*: Scammers claim to have made a payment but never actually do.
2. *Double Funding Scam*: Scammers ask for payment via multiple channels, claiming it's a "requirement."
3. *Identity Theft Scam*: Scammers request personal info, claiming it's needed for the transaction.
4. *Phishing Scam*: Scammers send fake links or messages to steal login credentials.
*Red Flags:*
1. *Urgent or aggressive behavior*
2. *Unusual payment methods or requests*
3. *Inconsistencies in communication or profiles*
4. *Requests for personal or sensitive information*
5. *Unverified or new accounts*
*Protect Yourself:*
1. *Verify buyer/seller profiles and ratings*
2. *Use secure payment methods (e.g., bank transfers)*
3. *Be cautious of unusually high or low prices*
4. *Communicate through official platforms (e.g., Binance P2P chat)*
5. *Report suspicious activity to Binance support*
Remember, if a deal seems too good (or bad) to be true, it probably is. Always prioritize caution and follow best practices to avoid falling victim to P2P scams.
**đ Ethereum's Dencun Upgrade: A Bot Bonanza?**
- **Transaction Turmoil**: Since Ethereum's Dencun upgrade in March, transaction failures on layer-2 networks have skyrocketed. Blame it on the bots!
- **Bot Brigade**: Galaxy's Christine Kim reports that low fees have attracted bots like bees to honey, causing failure rates to soar. Base hit a whopping 21%, Arbitrum 15.4%, and OP Mainnet 10.4%.
- **Double Trouble**: Daily transactions doubled post-upgrade, but so did the failures. High-activity addresses (a.k.a. bots) saw failure rates up to 41.6%.
- **Solana's Saga**: Even Solana isn't spared, with 25%-45% of non-vote transaction fees going to failed transactions.
Stay tuned for more blockchain shenanigans!
đ **Ethereum's Dencun Upgrade: A Bot-tastic Adventure!** đ€
Hold onto your crypto wallets, folks! Ethereum's Dencun upgrade in March, aimed at reducing fees, has inadvertently turned Layer-2 networks into a bot playground. đčïž
Galaxy researcher Christine Kim's deep dive reveals that since the upgrade, transaction failures have spiked, with bots leading the charge. High-activity addresses are seeing failure rates as high as 41.6% on Base and 20.87% on Arbitrum.
But hey, it's not all doom and gloom! Lower activity addresses face much lower failure rates. So, are bots a blessing or a curse? Drop your thoughts in the comments! đŹ
#Ethereum #CryptoNews #Blockchain