Altcoins Talks - Cryptocurrency Forum

Cryptocurrency Ecosystem => Crypto-related Sites => Topic started by: stormgain on January 26, 2021, 11:25:41 AM

Title: StormGain is a crypto trading platform for everyone.
Post by: stormgain on January 26, 2021, 11:25:41 AM
StormGain is a cryptocurrency trading platform for trading, exchanging and storing. This is a convenient solution for those who want to profit from the rise or fall of the market and from long-term investments in crypto assets.
• Member of the Blockchain Association
• StormGain is ranked first in the list of brokers,
providing the best deposit interest rates according to CoinMarketCap
• Platform of the Year for Trade and Exchange of Cryptocurrencies, according to The European

Services:
• Buying, storing cryptocurrencies and trading the most popular coins
• Own trading platform in web and mobile version
• Fast ability to buy cryptocurrencies from credit cards
• Interest on deposit under the loyalty program - up to 12% per annum
• Demo account 50,000 USDT
• Free education
• Free trading signals to notify you of the current market sentiment
• 9 crypto wallets for storing and exchanging assets
• Customer loyalty program.
The percentage of charges increases according to the deposit program, depending on the client's status (formed when a certain volume of trade turnover is reached)
• Referral program. For all commissions paid by partners or friends - a bonus in the form of 15% on the balance
• News and analytics on the site
• Regular contests with prizes

Working conditions:
• The minimum deposit is $ 10.
• Multiplier up to 200x
• Low exchange commissions from 0.04% to 0.25% per position, depending on the selected trading pair.
• Orders stop loss, take profit, buy limit, sell limit, buy stop, sell stop
• Ability to trade 24/7.

24/7 support service: [email protected];
Website: stormgain.com
Social networks: Telegram, Twitter, Facebook, Blog
Partnership: [email protected]
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on January 26, 2021, 11:32:48 AM
The Easiest Way to Mine Bitcoin in Crypto’s Golden Age

At the end of 2020 / start of 2021, Bitcoin completed its journey from monetary pariah to the hottest commodity in the world of finance. Traders and investors are flocking to what Goldman Sachs has called ‘digital gold’, but you don’t have to buy Bitcoin directly. Just like real gold, you can also get your hands on BTC through mining, which is fast becoming even more profitable than ever.

BTC mining outlook 2021

Bitcoin is created when dedicated computers compete to crack cryptographic codes on the blockchain, performing the work necessary for the secure decentralised digital ledger to function. For their trouble, miners are rewarded with a Bitcoin subsidy, usually a fraction of a BTC. Because only the first computer to crack a code gets the reward, miners must make a significant investment in powerful hardware and related electricity costs. This holds true whether it’s a souped-up home PC or a whole warehouse full of computers.

Still, miners worldwide are enjoying a healthy return on their investment as revenue from mining eclipses electricity bills. According to on-chain data from Coin Metrics, Bitcoin miners generated an estimated $692 million in revenue in December, up 33% from November. Publicly listed mining operations saw stock prices soar at the end of 2020. Shares in Riot Blockchain Inc., leapt more than 1,200% during last year, while Hut8, Canaan Creative and Marathon Patent Group saw theirs more than double. Across the board, these mining operations are buying up state-of-the-art hardware, with Marathon spending $170 million on 70,000 Antminers from Bitmain. For comparison, a single Antminer S19 Pro costs $9,000 or more.

Mining Bitcoin is best done sooner rather than later because there’s a fixed supply of coins, and mining rewards are reduced every four years. What’s impressive is that we’re seeing increasing interest in mining after the 2020 halving event, which cut mining rewards in, well, half. Even with the 50% reduction in BTC mining rewards, the actual value of each Bitcoin or part thereof has increased by so much, that it’s still more profitable than ever to mine your own.

With companies scrambling to stake their claims in the mining game, you might be forgiven for thinking that your opportunity to mine your own fortune has passed. But there’s an easy solution at your fingertips, and you don’t even have to buy any hardware.


Don’t miss out, activate cloud mining on StormGain!

Cloud mining is the practice of renting mining equipment, which sends you rewards in return for a fee. StormGain features this service but offers it as a completely free bonus for active StormGain users.

To mine crypto with StormGain, just log in to your account, open the Cloud Miner option and hit ‘Start Mining’ to connect to our cloud services. Don’t forget to click the Start Mining button every four hours to stay connected to the mines and earn BTC. As you’re logged in, you’ll make progress toward earning free Bitcoin. The mining rate varies, but even higher rewards can be earned by participating in the StormGain loyalty programme. If you haven’t activated StormGain cloud mining yet, register or log in here and enjoy free BTC rewards in addition to the best exchange rates and lowest fees in the crypto trading world.
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on February 05, 2021, 05:33:36 PM
Supercharge your cloud miner: Get an up to 12x speed upgrade in our new demo contest

Would you like to experience how it feels to mine Bitcoin at blistering speeds, courtesy of StormGain’s integrated cloud miner? Here’s your chance! StormGain is proud to announce our latest contest, with our top mining rate as first prize.


How it works:

Every StormGain client has a free demo account to practice trading, with real market conditions but virtual money, so you can test trading strategy and get to know our system at no risk to yourself.

To participate in the tournament, users just need to trade on their demo account and get as much profit as possible. The players with the highest profit totals (in USDT) by the end of the tournament win. All trades opened and closed during the tournament period are calculated in the results, no matter when a user joins the tournament. So don’t hesitate to jump in and try your luck. You’ve got nothing to lose and everything to gain from a good trade!

The tournament starts on 8 February 2021 (21:01 GMT) and runs until 22 February 2021 (21:00 GMT).

On the morning of 9 February 2021, a scoreboard will appear on our website’s tournament page. The scoreboard will update once every hour, providing you with an ongoing indicator of where you stand in the rankings and what numbers you need to beat! The tournament will last for two weeks. During that time, new players can join and will appear on the scoreboard the day after they register.


Top prizes: Boost your mining level up to 12x

The top 20 winners will see their StormGain Bitcoin miner speeds supercharged up to the highest levels, just as if they had ranked up to the top tiers of the StormGain loyalty programme.

●    1st place — mining speed 12x (Diamond level)
●    2nd through 5th place — mining speed 3x (Platinum level)
●    6th through 20th place — mining speed 1x (Gold level)


All mining speeds gained via our demo tournament are valid for one month. In addition to the increased mining speeds for the top 20 participants, those placing 21st through 50th in the rankings will receive $100 in bonus funds to trade on StormGain.

Start your engines!

Are you ready to play for the grand prize? All of StormGain’s advantages (200x leverage, a full range of digital assets and analytical tools) are available in your demo account to help you rack up high profit numbers! Don’t miss out on this great opportunity to practise your crypto trading strategy with nothing to lose and the chance to win an ultra-fast miner.
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: Libertex on February 15, 2021, 11:57:35 AM
Everyone has a chance
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on February 16, 2021, 02:15:28 PM
How does it feel to win free BTC? We asked the StormGain holiday season contest champions

StormGain celebrated the seasonal holidays and rang in the New Year with one of our signature giveaways. The StormGain 2020-2021 holiday season ran from 7 December to 1 February and featured our most exciting prizes to date, with a grand prize of one Bitcoin when BTC's value was shooting towards a new all-time high.

For every $500 net deposited, each client received a digital ticket for our prize draw, with no limit on the number of tickets per person. VIP clients were entered into an additional "Super Draw" for our extra-special prizes — a free BTC for 1st place and cash rewards equal to a MacBook Pro ($2500) for 2nd place and a PS5 ($500) for 3rd place. In addition to these special prizes, a $70,000 prize pool was given out as extra funds and bonuses to user accounts.

A total of 816 StormGain users participated in the prize draw, many of whom earned more than one ticket. With 203 prizes given out (including bonus money), that's a roughly 25% win rate!


1st place: Winner of BTC "It's made a huge difference to me"

How does it feel to win the grand prize?

"Honestly, I'm so happy. I only picked up crypto trading in 2020, and I wasn't sure how it would go with Bitcoin. I was always interested in cryptocurrency as an option for extra income, but I didn't anticipate that BTC's price increase over the holidays would make it one of the things I wanted most in the world! It's worth almost $40,000 now, and it's made a huge difference to me. You know, 2020 wasn't an easy year, but now I can stop worrying about money during this pandemic and start getting excited about how to enjoy the profit when it's all over!"

How did you find the StormGain platform?

"It's the first trading app I've ever used, and I'm quite impressed. I didn't think that it was possible to fit all the information you usually need to trade properly on a touchscreen interface, and I guessed that I would need to keep checking the website and the app. But StormGain let me access everything I need quite quickly from my smartphone."

What will you do now?

"It's certainly convinced me to keep trading in the crypto world. As soon as it's easy to travel again, I'm going to spend some profit and treat myself to a nice holiday abroad! But for now, it's more investing. I want to continue to accumulate BTC since it's only going to become rarer, both through trading on StormGain and using the built-in Bitcoin miner. But I'm also looking to diversify. I still haven't decided what altcoins are worth the hype, but I might invest in the crypto indices since there's less risk."

2nd place: Winner of MacBook Pro ($2500) "It only gets better"

How does it feel to win?

"I'm really pleased. It's a great present to start 2021 with. To tell the truth, I haven't quite decided what to spend it on, although the new MacBook Pro does look very tempting!"

How did you find the StormGain platform?

"I've been using StormGain for over a year, and it only gets better. I signed up back in 2019 because of the high leverage options and low commissions, and I learned a lot through StormGain's educational materials. Now with the loyalty programme bonuses, it really rewards users who stick with it, and I'm happy about that. The fact that it also offers these sweepstakes and tournaments with big prizes is the icing on the cake."

What will you do now?

"I think it's a really interesting year for crypto fans. I've followed crypto for years, but it's only recently thanks to StormGain that I could invest properly. I'm going to trade carefully and do a lot of research. Because crypto is becoming more popular, it's more important than ever for traders to educate themselves. Read about how crypto and markets work to understand it yourself, don't just blindly follow influencers on Twitter!"

3rd Place: Winner of PlayStation 5 ($500) "PS5 sounds like a great idea"

How does it feel to win?

"Great! I haven't won a competition like this before, and it motivated me to put some more effort into my trading, which I made a little profit on. I also have this contest to thank for that!"

How did you find the StormGain platform?

"It's fast and easy on the eyes. I'm always careful with money, so I like that StormGain always has the costs upfront before committing to a trade."

What will you do now?

"I'm spending a lot of time at home, and I don't think that will change this month, so a PS5 actually sounds like a great idea."

Keep your eye out for the next prize

The happy winners are celebrating their gains, but there's always more to play for. Don't forget to keep checking the StormGain website for details of upcoming competitions and giveaways, including our most recent Demo Tournament. You could be the next to win one of our exciting prizes!
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on February 24, 2021, 12:52:24 PM
No profit, no commission: Trade fair with StormGain

At StormGain, we believe that crypto trading is for everyone. And everyone — beginners and experts alike — deserves fair terms when participating in this exciting market. That's why we're proud to announce our new promise to all our clients. In addition to offering you the lowest fees in the industry, from now on, commissions on the StormGain platform will only apply to profitable trades.

Why are we doing this?

The typical economic model in the crypto market (and in the broader asset trading space) is that the broker takes its cut whether you profit on a trade or not. Whether you win or lose money, it's all the same to them. But at StormGain, we like to do things differently. We know that the success of our company and our clients goes hand in hand, and that should also apply to profits.

How does it work?

All trades on StormGain will now be opened with 0% commission by default, no matter what currencies you're trading. The difference comes into place when the trade is closed. If the trade is closed without earning any profit, we won't charge you any money. But if the trade makes a profit, StormGain takes a 10% profit share. In a nutshell, you only pay us when you earn on a successful trade.

This fair trading system will make unprofitable trades less risky and commissions less onerous by making sure they only come with a handsome profit to the user!


The fairest trading model in the industry

The crypto market is oversaturated with models that don't put your profitability first. But at StormGain, we care about making all our clients great traders. Instead of punishing people for making an unprofitable trade, we give our customers every advantage we can to make them better traders.

Effective trading takes time, practice and long-term commitment. That's why we provide a full suite of free educational materials, from beginner's tips up to advanced market strategy and a comprehensive loyalty programme with significant rewards for users who keep up their trading long-term. This includes up to 12% APR interest on crypto holdings. Combined with our free Bitcoin cloud miner and our new no-commission model, it's easy to see why StormGain leads the pack in providing the fairest profit model in the whole crypto trading world.

Excited to try out the fairest crypto trading platform on the market? Register with StormGain and start trading Bitcoin, Litecoin, Ripple, Ethereum and a wide range of digital assets with up to 300x leverage in just a few seconds!
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on March 02, 2021, 02:52:23 PM
Refer a friend and reap BTC rewards!

StormGain is pleased to announce our latest feature: users can now refer friends and get an additional reward of 15% of what their friends withdraw from the StormGain crypto miner. This is in addition to the 15% of your referral’s funds deposited to the StormGain platform.

To refer a friend, just register with StormGain, get your referral link and pass the link to your friends. Anyone who uses the link and registers will earn you 15% of what they earn through the crypto miner and what they deposit. You can track these bonuses in your own StormGain account.

There is no time limit on these referral bonuses and no limit on the number of friends you can refer! As thanks for helping to expand our amazing community, the rewards earned are unlimited and permanent.


StormGain crypto miner: earn BTC for free

Every StormGain user has free access to our cloud-based Bitcoin miner. Simply log into the platform, activate the miner and earn BTC passively while you trade. Stake your claim in the mining game without paying any costs for any computing resources. The mined BTC is added to your account automatically, and the amount earned increases as you rank up in the StormGain loyalty programme, up to a total of 0.318 BTC every four hours! Get some referrals on your account, and the numbers can quickly add up as you earn the world’s most valuable cryptocurrency.

StormGain nominated for 2021 award, get your vote in!

Available on the web or our user-friendly smartphone app, StormGain is the all-in-one crypto platform that offers the best customer experience for zero-commission cryptocurrency trading, holding and mining. As a new challenger pushing the limits in the cryptocurrency space, StormGain has already won several accolades for quality of service and design.

After having won the coveted Cryptocurrency Trading and Exchange Platform of the Year from the magazine The European in 2020, StormGain is excited to be nominated by the Ultimate Fintech Awards 2021 for Best Cryptocurrency Broker and Best Trading Experience. Public voting opens in late April 2021, so watch this space to find out when you can cast your vote for the best crypto platform in the business!
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on March 09, 2021, 11:41:20 AM
StormGain opens Islamic accounts with swap-free trades

StormGain is proud to announce the debut of Islamic accounts on our platform, opening all the possibilities of the cryptocurrency world to our Muslim clients who wish to practice ethical trading according to their religious beliefs.

What's unique about an Islamic account?

The religious strictures of Islam forbid riba (usury) or gharar (gambling). An Islamic trading account is a trading account that complies with Islamic law. Therefore the StormGain Islamic account is swap-free and does not incur interest or any rollover commissions.

The validity of cryptocurrencies in the Islamic banking philosophy has been a matter of discussion among many respected scholars. At first, there was scepticism about this new technology. However, as the understanding of cryptocurrencies developed, Muslim innovators tried to create technologies that would comply with Sharia from their inception. Furthermore, Islamic banking experts also recognised the transformative effect that blockchain and crypto technology could have in empowering individuals in the Muslim world, especially in areas where traditional banking services are underdeveloped or unfair. In this case, cryptocurrency can be seen as desirable according to the principle of maslaha (public interest).

The best crypto platform in the global market

StormGain was founded with the philosophy to make investing in cryptocurrency easy and accessible for everyone, and we extend our community to all faiths and lifestyles. Islamic users can now enjoy the unique benefits of the StormGain platform. This includes our award-winning, easy-to-use interface on the web or our smartphone app, friendly and helpful customer support, secure asset storage on many integrated crypto wallets and up to x300 interest-free leverage on top cryptocurrency pairs.

You can register for a StormGain Islamic account. Note that Islamic accounts are not available for users who already hold a non-Islamic account with us.
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on March 15, 2021, 01:32:03 PM
NFTs: Crypto for collectors is more than just a game

NFT, or non-fungible tokens, are generating a ton of hype on the crypto grapevine lately. But the cryptocurrency world is prone to trends and buzzwords that build up a lot of interest — and speculation — before suddenly going quiet. The ability to analyse a trend and spot where the wind is blowing is a crucial skill for anyone in finance and crypto especially. But we first need to know what we’re dealing with and ask ourselves: is there a real substance behind the acronym?

What is fungibility anyway?

It would be a mistake to think of NFTs as just a hot new cryptocurrency. As StormGain CEO Alex Althausen details, they started as digital collectables in multiplayer games. NFTs work very differently from Bitcoin, Ethereum and other crypto coins. The most important thing to know about NFTs is that they are unique. And that uniqueness applies not to NFTs as a group but to each individual token.

Fungibility refers to an asset’s ability to be exchanged for another of the same asset without any difference in value. The majority of cryptocurrencies and fiat currencies are fungible; for example, Bitcoin, Ethereum, Monero and Ripple all are. If you have a Bitcoin and your friend has another Bitcoin, you can send each other a Bitcoin and nothing changes; you still have one Bitcoin each.

But NFTs are very different. They are still cryptographically generated (mostly using the Ethereum blockchain) and attached to certain dApps, but each NFT has a unique identifier on the blockchain, making them one of a kind. In this case, an NFT cannot automatically be exchanged for another similar asset. They’re also indivisible; a Bitcoin can be broken down into smaller units, but an NFT cannot.

So while BTC, XRP and other cryptocurrencies can be compared to money, NFTs are more like valuable artworks, antiques, festival tickets or collector’s items, such as a signed sports jersey. Their value comes from their uniqueness. It’s important not to see these tokens as currency but rather as distinct items.


The origins of the NFT hype

NFTs first captured the attention of the cryptocurrency scene with Dapper Labs’ CryptoKitties, a social game that creates unique digital cats to collect and breed. Each kitty is an NFT. Other blockchain-based trading games, such as Blockchain Heroes and Gods Unchained, also use NFTs as their digital game items.

NFTs also made a splash in the digital art world. Digital art in the form of NFT tokens can be bought and traded on platforms like Rarible and SuperRare. Even at the highest level of the traditional fine art dealership world, clever forgeries have fooled collectors and duped them out of many thousands of dollars. NFTs make such deception impossible; every digital art piece represented by an NFT is 100% authentic.


Why are non-fungible tokens useful?

NFT tokens can be used for anything where uniqueness is a priority, and the potential for forgery or piracy represents a significant risk to value. These could be domain names, certificates for qualifications or ownership, medical reports, festival tickets, valuable company data, patents and more.

For creators, the ability to auction digital art directly to buyers without galleries and dealerships could represent a revenue revolution. Royalties can be programmed into an NFT and automatically executed via smart contract so that the original artist gets their cut every single time their creation changes hands. That represents an incredible empowering of the individual creator, who might otherwise sell to a dealer only to receive nothing when that dealer sells the artwork at a huge profit at auction.

The built-in ability for the primary issuer of an NFT to cash in on secondary market sales could transform multi-user games or online communities that otherwise tend to hoard limited-issue digital items or try to quash secondary market sales. If there was a way to guarantee the creator their cut, IP holders might prefer to let their digital items be freely re-sold without fear of loss.


What kind of people are buying up NFTs for over $500 each?

When the digital age commenced, we became used to the devaluation of digital items. However, the ecosystem has matured, and money is as much a part of the online space as it is of the physical world. Some NFT buyers are simply collectors indulging their hobbies. Others hope to profit off of selling a unique object at auction. And the demand is there. For example, CryptoPunks, a digital art collection composed of pixel art of various ‘punk’ heads, reports that the average sale price of a punk over the last year was 10.83 ETH ($17,307.87), with the total value of punks sold over the last year clocking in at 69,742.36 ETH ($111,422,479.26). The CryptoKitty Dragon is also priced at an eye-watering 600 ETH, or $946,000!

Other NFT adopters are visionaries looking into the possibility of digital space, such as the worlds offered by virtual reality. VR galleries could be used to display NFT-authenticated digital artworks, but NFTs could also secure actual real estate in digital environments. Second Life-inspired worlds like Decentraland and Somnium Space VR use NFTs for ownership of digital real estate, from which the landlords can operate services and charge rent.


Are NFTs a good investment?

That depends. The key aspect of NFTs is that they are unique, so any investor should take the time to research the particular circumstances of a type of NFT. Many of these tokens are community-based, whether they’re art fans or denizens of virtual worlds. Actually getting to know the communities involved will enable a prospective investor to have an idea of what is valued now and what it might be in the future. The comparisons to art, collector’s items, or property should apply — think of NFTs not as currency to exchange but as artworks that can be ‘flipped’ for a profit.
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: Libertex on March 23, 2021, 12:06:06 PM
 ::) ::) ::)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on March 30, 2021, 01:03:52 PM
Bitcoin's energy consumption is on the rise: how sustainable is crypto mining

Bitcoin's energy consumption continues to raise concerns globally. After reaching a recent all-time high near $60K, detractors of the original cryptocurrency persist in pointing out the electricity-intense proof-of-work consensus system in which Bitcoins are 'mined' by computers solving cryptographic puzzles. These computers — powered by state-of-the-art graphics chips — are guzzling electricity at a hair-raising rate. Even after the 2020 halving event cut the rate of BTC rewarded for mining in half, the massive increase in value come 2021 has made mining more popular than ever. It's not just enthusiasts contributing their home computers. Operations are increasingly stuffing warehouses full of powerful computers, with all the associated power, cooling and maintenance costs that come with it.

The University of Cambridge Bitcoin Electricity Consumption Index places Bitcoin's electricity consumption at about 139.38 Terawatt-hours (TWh) as of late March 2021. That puts its consumption above whole countries', such as Sweden (131.80 TWh) and Ukraine (128.81 TWh). In the bigger picture, Bitcoin mining accounts for about 0.59% of global energy consumption.


Consumption in context

That's not a good look in an increasingly environmentally conscious world, but it's important to keep things in perspective. The combined value of all mined Bitcoin is just over $1 trillion as of 26 March 2021, easily surpassing Ukraine and Sweden, which are just behind BTC in Cambridge's energy consumption rankings. So, it's not necessarily more wasteful by that measure. Compare the 'digital gold' of Bitcoin to the energy-intensive process of mining actual gold from the ground. Bitcoin mining also proves to be more efficient, even if you can't make a necklace out of cryptocurrency. When considering Bitcoin's many advantages — for example, in terms of security, privacy and cross-border transactions — it could still be 'worth' the energy use. However, it would still be responsible to consider more efficient ways to use the power.

Proof-of-Stake vs Proof-of-Work

One way to do this would be to switch from a Proof-of-Work (PoW) consensus model to a Proof-of-Stake (PoS) model. The latter is simply a matter of proving ownership and doesn't require any expensive mining. While PoS is undoubtedly more energy-efficient and championed by the likes of Ethereum founder Vitalik Buterin, it has been met with resistance from existing Bitcoin miners. Part of this is reactionary. Miners have invested a lot of money in their hardware and want to see a return on it. However, many also tout the energy-intensive cryptography work as part of Bitcoin's core philosophy since these make the blockchain more secure and more difficult to alter by bad actors. Bitcoin is also the flagbearer for cryptocurrency as a whole, and its success boosts the value of the whole sector. No one wants to change something that's doing so well.

Mine in the cloud

So, where does that leave us? At StormGain, we offer a different approach, courtesy of our integrated Bitcoin cloud miner. Rather than buying and installing a mining rig, our users can instead participate in our cloud miner to earn BTC. All they have to do is log in to the StormGain platform for totally free (in terms of both monetary and energy costs to the client). The longer you stay logged in to the website or app, the more BTC you can earn. You can also increase the reward rate by trading cryptocurrencies on our platform.

Using this approach, Bitcoin awarded on StormGain is still mined by conventional mining hardware, but because the rewards are shared with all our clients, we hope it will reduce waste and provide a cleaner, greener alternative to setting up mining rigs at home! Until more efficient technology is invented, our cloud-based mining programme offers the best way to use the hardware to benefit the most people.


About StormGain

StormGain is an online platform for buying, selling and exchanging cryptocurrencies, including Bitcoin, Ethereum, Ripple, Litecoin and a whole range of altcoins with up to 300x leverage. Built-in crypto wallets, low fees and the integrated crypto miner make it the most efficient choice for all your crypto needs. Find out more at StormGain.com or register in just a few seconds and take the demo account for a spin to see for yourself how easy it can be to invest in cryptocurrencies.
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on April 09, 2021, 02:40:36 PM
Ethereum hard fork in April: here's what you need to know

After some delay, Ethereum's long-anticipated Berlin upgrade is set to go ahead in April and will make gas fee usage more efficient.

Aside from various gas optimisations for contracts, the hard fork includes extra measures to protect against denial-of-service (DDOS) attacks. Proposed updates to the Ethereum Virtual Machine (EVM) appear to have been dropped.

The Berlin hard fork was originally scheduled for June or July 2020, but developers delayed the changes due to centralisation concerns around the Geth client on which most Ethereum nodes run. Developers were also concerned about 'critical dependence' on Geth. Now, the Berlin upgrade is officially scheduled to be activated on the mainnet on 14 April, the production time of block 12,244,000. Because the block production's exact timing can vary, Ethereum node operators have been advised to update several days before the scheduled date.


What does the Ethereum Berlin fork do?

The Berlin hard fork has already been deployed on multiple test networks during March and contains several EIPs (Ethereum Improvement Protocols).

The EIPs in question are:

●    EIP-2565 (ModExp Gas Cost)
●    EIP-2929 (Gas cost increases for state access opcodes)
●    EIP-2718 (Typed Transaction Envelope)
●    EIP-2930 (Optional access lists)

The upshot of these EIPs combined is that the network will become more secure. Furthermore, certain processes that were 'overpriced' in terms of gas costs will be brought in line with their worth. The risks of accidental smart contract breakages will also be lowered.


What comes next?

Before the Ethereum 2.0 upgrade and the migration to proof-of-stake, the current Ethereum blockchain is set for more upgrades. The next improvement after Berlin is called London and has been scheduled for July 2021. It will include EIP-1559, an update aimed at addressing community concerns about how Ethereum transaction fees work.

London and EIP-1559 will be a significant upgrade for Ethereum because they should significantly decrease the number of outstanding transaction fees users will need to pay when using the network. Base fees will be introduced on the network, and users should expect lower transaction fees overall. After the London fork, every time a transaction is conducted on the Ethereum network, Ether is burned, reducing gas fees and ETH supply. This is expected to increase the value of ETH in the long term and address high gas fees.


Proof of work vs Proof of stake. Are we there yet?

Berlin and London are upgrades to Ethereum 1.0, which has still not joined the Beacon Chain, an ETH 2.0 phase work in progress that plans to transition Ethereum to a pure proof-of-stake network. According to Ethereum developers, ETH 2.0 is scheduled to happen in 2021. However, in the meantime, Ethereum as we know it – on the proof-of-work model – is still being improved.

ETH's price ahead of the Berlin hard fork

The proposed upgrades to Ethereum, plus the increased interest in cryptocurrencies in general, have carried ETH to all-time high prices recently. At the time of writing, ETH sits at $1,979.34 and has been increasing steadily throughout 2021. It is still the second-place cryptocurrency in terms of market cap and should be part of a serious crypto trader's portfolio.

StormGain is an all-in-one cryptocurrency platform that offers ETH in trading pairs and crypto indices and options on all the top digital assets with up to 300x leverage and fees that are among the lowest in the industry. In addition, StormGain features integrated crypto wallets for secure storage of your assets, great loyalty rewards for active users and a free-of-charge Bitcoin cloud miner that awards BTC simply for being logged in. Register with StormGain today and join the crypto platform with the best rewards for clients in just a few seconds!
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on April 12, 2021, 02:26:16 PM
From the space race to the crypto chase. Bitcoin opens a new era of technology

60 years ago, on 12 April 1961, Soviet cosmonaut Yuri Gagarin became the first human being to travel into space and the first man to orbit the planet, a feat accomplished in just 89 minutes. Gagarin's space flight was a milestone for humankind as a whole and signified a tipping point of technology: the impossible made possible.

Today, we can see ourselves on the cusp of a similar paradigm shift driven by technology. Even the wildest of science fiction in the 1950s and '60s that imagined colonies on the Moon and Mars couldn't even have guessed at the Internet's revolutionary potential. Now Bitcoin, spearheading cryptocurrency as a whole, is breaking the threshold and realising its potential. In doing so, it possibly hints at a paradigm shift as profound as when Gagarin breached the cosmos.


BTC poised to break institutional barriers

It's not an exaggeration to say that, in a global society where money is so important, a technological revolution in finance would not also be a historic landmark. After over a decade of being relegated to the ghetto of niche Internet subculture, Bitcoin is finally getting the recognition it deserves and a market value to prove it. As well as reaching stratospheric heights in terms of price, BTC and cryptocurrencies are also bringing us closer to a new financial system that can be truly institutionally independent.

A strong indicator of this is that the same institutions that previously derided Bitcoin now can't get enough of it. One such case is Citi Global Perspectives & Solutions. In a recent report titled Bitcoin: At the Tipping Point, they admit to scoffing at Bitcoin in 2014, calling it a 'wannabe asset'. Now, however, they've acknowledged it as the centre of a whole new financial ecosystem that attracts investors to this 'digital gold' as a hedge against inflation.

More people are also holding on to Bitcoin for longer: 50% has been held for at least one year, and over 10% of Bitcoin has been held for 5 years or more. This marks a shift from investors seeing Bitcoin as a short-term speculative gamble and more as a serious long-term investment for a diverse portfolio.

The success of Bitcoin — which hit $1 trillion market capitalisation in February and, at the time of writing, is selling for $58K per coin — has pressured many established financial institutions not just to invest in BTC and the wider constellation of cryptocurrencies but also to consider coming up with their own digital assets. Just as with the space race, there is a competition afoot. But Bitcoin, the first mover, may still win out over any big institutions' attempts to colonise crypto.

The Citi report even claims that in 7 years, Bitcoin could become the currency of choice for international trade due to many factors. These include its global reach, neutrality and decentralised design, fast (and potentially cheaper) transactions, secure payment channels and traceability. Free from foreign exchange exposure, BTC can easily overcome many existing hurdles to cross-border transactions in an increasingly (and inevitably) globalised financial system. Other cryptocurrencies, such as Ripple, are also looking to fill this role, but BTC remains ahead in the race.

The study also highlighted the increasing reliability and security of crypto exchanges, which have improved their infrastructures to become more secure, trustworthy and connected to traditional banking methods. It's now easier and safer than ever to buy crypto with a bank card and store it on an exchange, far from the leap into the unknown that it used to be.


StormGain, the crypto platform pioneer

At this historic tipping point in finance technology, it is more important than ever to choose the crypto exchange that works best for you. Available on the web or as a smartphone app, StormGain remains the leader of the pack, offering not just a full range of crypto assets and indices for purchase and exchange with up to 300x leverage and low fees but also secure built-in-wallets for storing your digital assets and even an integrated Bitcoin cloud miner that earns BTC for you while you trade. Registering with StormGain is easy and takes just a few seconds. Sign up now to try StormGain and see for yourself!
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on April 20, 2021, 03:15:04 PM
New altcoins on StormGain - diversify your portfolio

Keen-eyed users may have already noticed that there are a plethora of new additions to the StormGain family of digital instruments. StormGain is proud to debut 15 (!) new altcoins to our platform. Our experts have vetted each one to make sure it represents an interesting investment opportunity to the right buyer. To find out which may be right for you, let's take a look at the new additions:

Theta, the video-sharing token (THETAUSDT)

Theta is the cryptocurrency of a P2P system that aims to support one of the most crucial services on the Internet, at least as far as home entertainment is concerned: video streaming. Many video streaming sites are plagued by issues, such as poor global coverage, low video quality, stuttering or interrupted streaming.

Theta is a decentralised blockchain infrastructure for video streaming that rewards its nodes with Theta tokens for their efforts in hosting video content. The aim is to make video streaming online both higher quality and more secure.

Algo, the un-forkable (ALGOUSDT)

Developed by the Algorand foundation, Algo is a cryptocurrency intended simply as digital cash for cross-border payments. Stop us if you've heard that one before. But the Algorand blockchain, built to support billions of users, can boast breakneck speeds and scalability. It takes just 4.5 seconds to make a transfer, big or small. Algo's other selling point is that it is guaranteed never to fork, thus offering an additional layer of long-term reliability.

Solana, a unique DeFi token (SOLUSDT)

Created by former Qualcomm engineers, Solana is a DeFi token with a twist. It introduces a proof-of-history (PoH) consensus combined with the blockchain's underlying proof-of-stake (PoS) consensus. The innovative hybrid consensus model is intended to improve scalability for building dApps, and Solana is noted for its high-speed processing and validation times.

Terra, for stability and security (LUNAUSDT)

The Terra blockchain protocol powers global payment systems but uses fiat-pegged stablecoins as tokens. The intention is to combine the price stability and wide adoption of fiat currencies with the decentralised advantages of Bitcoin (BTC).

Terra offers stablecoins pegged to the U.S. dollar, South Korean won, Mongolian tugrik and the International Monetary Fund's Special Drawing Rights basket of currencies. It intends to roll out even more in the future. LUNA is Terra's native token. It's used to stabilise the price of the protocol's stablecoins and give its holders a say in the protocol's governance.

Aave, the DeFi solution for crypto loans (AAVEUSDT)

Aave (AAVE) is an Ethereum token that powers Aave, a DeFi project formerly known as ETHLend dedicated to facilitating cryptocurrency lending.  Users can participate as depositors that provide liquidity to the market in return for a passive income or as borrowers who can borrow cryptocurrencies in exchange for paying interest. Aave works on automatic liquidity-based market lending with interest calculated on the spot based on asset supply and demand.

And many more!

The other new coins available on StormGain have a variety of functions, from eSports to file storage to exchange systems. They include:

●    Binance Coin (BNBUSDT)
●    Avalanche (AVAXUSDT)
●    eGold (EGLDUSDT)
●    Filecoin (FILUSDT)
●    Chilliz (CHZUSDT)
●    PancakeSwap (CAKEUSDT)
●    SushiSwap (SUSHIUSDT)
●    THORChain (RUNEUSDT)
●    Enjin (ENJUSDT)
●    Polygon (MATICUSDT)

All 15 new altcoins can now be traded on the StormGain app and web platform.


Build a diverse crypto portfolio with StormGain

StormGain is designed to be your one-stop crypto platform, with full-fledged features for buying, selling, holding and even cloud mining! Any good investor knows that a diverse portfolio is key to mitigating risk and achieving long-term market success. That's why we've expanded our available crypto instruments to include more of the most exciting altcoins on the crypto scene. In addition to a wide selection of instruments, StormGain features super low fees, a fast and user-friendly app, and a loyalty programme for clients with attractive bonuses and rewards.

Registering with StormGain is easy and takes just a few seconds. Sign up now and use up to 300x leverage when trading Bitcoin, Ethereum, Ripple and a wide range of digital assets, including, but not limited to, all of the above!
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on May 05, 2021, 03:17:24 PM
BTC has moved out of reach for many traders, but altcoins are where the action is

There’s no question that Bitcoin (BTC) is enjoying a fantastic year, but as the original cryptocurrency’s momentum looks to be stagnating, other, smaller cryptocurrencies are racing ahead. These cryptocurrencies, known as ‘altcoins,’ i.e., alternatives to Bitcoin, don’t quite have the name recognition of Bitcoin. But ignore them at your own peril — many of them present investment opportunities that are potentially superior to Bitcoin, and recent market activity seems to back this up.

Bitcoin’s recent dip down to below $50K pulled its dominance rate down to 49.5%, its lowest level in almost three years. This indicated an increased interest in altcoins and led a large number of traders to declare ‘alt season’ open, with the prediction that altcoins will outperform Bitcoin in the short term.

Conventional wisdom, such as it exists in the relatively new world of crypto trading, points to the tradition that the value of altcoins tends to follow that of Bitcoin: when the original cryptocurrency rises, it tends to lift all boats. Likewise, when BTC sinks, it can drag others down with it. But that doesn’t seem to be the case anymore.

The top altcoins to watch

In 2021, a year that represents a real turning point for cryptocurrency, old patterns may no longer apply as altcoin prices appear to be disengaging from Bitcoin. Notably, the 2nd-ranking cryptocurrency by market cap, Ethereum (ETH), hit a new all-time high this week even as Bitcoin’s price sank 20% from its all-time high. This may have had something to do with Visa announcing that they would support cryptocurrency payments on the Ethereum blockchain at the end of March.

Dogecoin (DOGE) also hit a new all-time high (again), once more due to tweets from Elon Musk. The Tesla founder declared himself ‘The Dogefather’ on Wednesday while promoting his upcoming TV appearance on Saturday Night Live on May 8, a date that Dogecoin traders would do well to pencil into their diaries! Musk has promised to “put a literal Dogecoin on the literal moon” via the next rocket launch of his commercial spaceflight company SpaceX.

Chainlink (LINK) has also been performing well following the release of the Chainlink 2.0 white paper, which detailed the decentralised oracle solution’s innovations for smart contract architecture.  LINK hit an all-time high of $44 before a correction to $36 but remains a strong choice for investment.

Other altcoins to watch right now include Qtum (QTUM) and Pancakeswap (CAKE) — innovative tokens that both hit recent all-time high prices but remain affordable to retail investors — as well as established altcoins such as Litecoin (LTC) and Monero (XMR).


Why the altcoin rush?

Every coin has its own function, whether as a digital currency, governance token, smart contract gas, etc. Even ‘meme coins’ such as Dogecoin have their role. One key attraction is their affordability. What is attracting many people to altcoins even during the Bitcoin dip could well be that. Although BTC has dropped from its all-time high, it’s a resilient asset that has bounced back since the dip and is holding at around $55K at the time of writing. That still puts purchasing a whole Bitcoin out of the remit of many retail investors. However, nowadays, more and more people are looking to invest in the crypto market, and altcoins are much more affordable and accessible to new traders who are getting their foot in the door and building up their portfolios.

Join in the altcoin season on StormGain

With altcoin season in full swing, traders should choose a reliable crypto platform that offers a wide range of altcoins for their portfolio and bring them the best returns on their investment. StormGain, the crypto trading platform with low fees and high leverage, has just debuted a new range of altcoins, including all the above-mentioned trending assets and many, many more! Not only do StormGain clients get the best deals on ETH, XMR, LINK, CAKE, DOGE and other altcoins, but you can also benefit from the unique advantages of the StormGain platform, such as interest earning and a built-in Bitcoin cloud miner.

Registering with StormGain is easy. Just sign up via our website or smartphone app, choose a username and password and start trading in a few seconds! Try it now and reap the benefits of altcoin season with the crypto platform that brings you the best perks on the market.
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on May 14, 2021, 03:28:55 PM
Ethereum Founder Hammers Dogecoin Copycats

A co-founder of Ethereum – the most promising network – and crypto billionaire Vitalik Buterin has decided to kill two birds with one stone: stop Dogecoin copycats in their tracks and help India in its battle with the coronavirus. Meme cryptocurrencies dropped by 50% on average in one day.

Dogecoin has become popular and got a big army of fans. Elon Mask has lauded it over the years, calling it his favourite cryptocurrency. We have been telling you about the reasons behind such a positive attitude towards Dogecoin whose market cap has grown by 1,000% in the last year. Such success led up to the advent of many copycapts – Shiba Inu, Akita Inu, DogElon Mars – many of which started off very well after the launch.

Thus, Shiba Inu grew 10 times in 5 days, having risen to the fourth place by daily trading volumes with a mark of $21 billion. In contrast with Dogecoin, most of its copycats are built on the ERC-20 token (such a token can be created in several mouse clicks), because of which the cost of transactions in the Ethereum network rose to a record $70.

(https://leonardo.osnova.io/6fbe29aa-0745-5d63-aca8-2b810a044ff7/)

The creators of Shiba Inu, Akita Inu and DogeElon, ingratiating themselves with a grand master of the cryptocurrency world, gifted him their coins in hope that he would not spend them and would speak positively about their projects.

However, Vitalik Buterin decided to decrease the level of tension around Dogecoin, decrease the level of congestion in the Ethereum blockchain and make a good thing all along: he sent 50 trillion Shiba Inu ($1.2 billion at the moment of transaction) to a charity fund helping India fight COVID-19 and donated a half of Akita Inu ($431 million) on the Gitcoin platform. As a result of his actions, Dogecoin copycats lost 50% of their market capitalisation in 24 hours.

(https://leonardo.osnova.io/f7f13e37-1a29-54e7-a2d6-442fe7fe28d5/)

Dogecoin fell less than 10%, but there were different reasons for that.

(https://leonardo.osnova.io/127c52be-eed3-5e34-a60c-6d82bcef57d4/-/preview/600/-/format/webp/)

On 12 May 2021, Elon Musk said that Bitcoin was too toxic to be accepted as payment for Tesla cars due to the ‘rapidly increasing use of fossil fuels for bitcoin mining’. And the fact that Dogecoin is like Bitcoin works on a proof-of-work protocol, the integration of this cryptocurrency is also irrational (Musk was asking his Twitter subscribers a few days ago whether it should be allowed to be used as payment for Teslas).


StormGain analytics team
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on May 17, 2021, 02:07:15 PM
The ‘YOLO economy’ kicks off as generation lockdown turns to crypto for financial freedom

Fed up with lockdown life, under-employed or overworked, many people are ditching their old routines and risking it all to pursue what is really important to them. Pundits have dubbed this movement of fulfilment-seeking workers and their money the ‘YOLO economy’. Cryptocurrency, now able to bring its promise of financial freedom to the masses via user-friendly FinTech apps, is a defining aspect of this new economic trend.

New ways to work, new ways to build wealth

The basic premise of the YOLO, or ‘you only live once’, economy is that the old ways of working just aren’t cutting it anymore. Low-income workers have been laid off and are struggling against inefficient government relief and a shrinking job market. Although labelled ‘essential’ and heaped with praise, others workers aren’t seeing that gratitude being translated into material security even as they risk their health to keep the economy going. Then there are the luckier ones: the tech workers, marketers and administrators. They found themselves getting used to working from home, with more control over their time and privacy. They hear the call to return to uncomfortable suits, cubicles, and commutes, dig their heels into their living carpet and say, “No!” The rollout of vaccinations and increasing anticipation of a return to ‘normal’ has many considering the lessons learned in lockdown and whether they truly want to go back to the way things were before.

Not everyone has had the savings, support or opportunities to turn the 2020 upheaval into a bliss-seeking adventure. Many are still trying to stay afloat. But anyone in a position to think about where to put their next investment is likely to have a very different mindset than the pre-pandemic paradigm. Seeking a new way of making money, they’re turning to online crypto exchanges, which are making the investment into blockchain technology easier than ever.
StormGain, a cryptocurrency platform popular with new traders, reported a dramatic uptick in new clients in 2021. One thing that makes StormGain particularly attractive to crypto beginners is that the app features a comprehensive suite of educational materials that explains the different types of cryptocurrency and all the ins and outs of trading that make it easy for the layperson to understand.

“We’re seeing some real growth in interest these recent months,” said StormGain CEO Alex Althausen. “Part of this is the popularity of crypto since value is going up across the crypto space, and people want to make that money for themselves. But newcomers are choosing us because they are ready for a big change in this so-called YOLO economy, and we are the ones that offer not only the tools for trading but also all the information they need to prepare themselves and start trading crypto with confidence”.


YOLO and crypto

Considering the optimism, individualism and innovation of the YOLO economy, it’s actually no surprise that it coincides with a boom in cryptocurrency, both in terms of value and adoption. The exposure of the economy’s fragility went hand in hand with an indictment of the traditional financial system — one that felt like the last straw for those who came of age around the 2008 financial crash and the Occupy Wall Street movement. Fast-forward to 2021, non-traditional finance has come into its own. Bitcoin (BTC) has hit dizzying heights of $60K+ value amid fears of the devaluation of the dollar and other fiat currencies. Part of this is due to large-scale investment from established financial giants. But the YOLO economy isn’t about JP Morgan, Goldman Sachs or Citibank. In fact, it’s not even really about Bitcoin.

Bitcoin may be a household name now, but it’s the alternative cryptocurrencies, or altcoins, that are the real stars of the YOLO economy. Bitcoin’s boom was met with cheers by longtime crypto holders, but for most retail investors and ordinary people dipping into cryptocurrency as an extra money-maker, it’s all about altcoins. The number two cryptocurrency, Ethereum (ETH), is soaring to new all-time highs, and other altcoins are falling suit. Litecoin (LTC), Ripple (XRP), Monero (XMR), Pancakeswap (CAKE), Chainlink (LINK) and many more are enjoying their heyday. Bitcoin may have priced itself out of the range of many ordinary people, but YOLO investors aren’t just looking at the ‘mainstream’ cryptocurrency.

To offer the best range of affordable altcoins for this new wave of investors, StormGain recently debuted a series of new altcoins on the platform, totalling 50 different crypto instruments to trade, in addition to 3 indices, or packages of different coins to offer risk management. This makes it easier for the new investors who decided to go YOLO to choose from the most promising Bitcoin alternatives and build a diverse portfolio quickly.


The tools of the trade

The proliferation of platforms is key to the YOLO economy. Crypto thumbs its nose at banks and borders and puts the power in the hand of the individual. Specialised crypto brokers have become faster, slicker and more user-friendly. They boast better bonuses and innovations as they expand to attract new users. Higher leverage rates tempt the daring while crypto indices have been introduced for risk-averse investors. Other gimmicks make it easier to earn crypto without buying it outright.

StormGain, for example, although it already boasts low fees and high leverage, also debuted a built-in Bitcoin cloud miner so that users can also earn the big BTC even while trading more affordable altcoins. StormGain’s cloud miner is unique and impressively works without using any resources from the user’s device. If you’re interested in trying this novel approach to mining Bitcoin, register with StormGain. It only takes a few seconds, and when you use the code YOLOSG, you get a 5 USDT bonus head start towards mining your BTC.

Crypto brokers like StormGain are what really powers the YOLO economy. Because they put access to the crypto market on our smartphones and computers, it becomes simplicity itself to take the first steps towards becoming financially independent while we swipe and click and stay at home, planning for our big break in a post-pandemic world. Sure, pursuing such ambitions may involve some risk, but why not shoot for the moon like Elon Musk? Everything is changing, anything is possible, and You Only Live Once!
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on May 18, 2021, 01:38:23 PM
Bitcoin’s Carbon Footprint vs. Banks and USD

Last week, Elon Musk’s tweet triggered a downfall in Bitcoin; in it, he said that Tesla no longer accepted BTC as payment. The reason for the reversal was the ecological impact that Bitcoin miners had. But how real is it?

(https://steemitimages.com/p/6VvuHGsoU2QBt9MXeXNdDuyd4Bmd63j7zJymDTWgdcJjo1VfnRbj3s951s5bkQrxowtRcxwxHKxbb7akPaUawpjzPmo5A6wuTacVUMZV18wcmm3nJoigLqTcAP5xFY?format=match&mode=fit&width=640)

Galaxy Digital conducted research that compared the amount of energy consumed by Bitcoin miners to gold miners and the banking system. Bitcoin was the least toxic:

(https://steemitimages.com/p/6VvuHGsoU2QBt9MXeXNdDuyd4Bmd63j7zJymDTWgdcJjnzfPsgg9epPTpFHNtVw2HFZXCmgqka927uGqLHJ6o6SE1uPJM197FBtERC725Ke5XdDR8CKRPzybhprpWa?format=match&mode=fit&width=640)

With the global electricity consumption worth 166,071 TWh/yr Bitcoin consumes 114 TWh/yr or 0.07%. Meanwhile, the banking system requires 264 TWh/yr, and gold miners take 241 TWh/yr for mining and refining gold, which is twice as much as Bitcoin consumes.

Thanks to its decentralisation, Bitcoin offers a range of unarguable benefits against traditional systems especially for the people living in authoritarian regimes. Alex Gladstein from the Human Rights Foundation believes that 4.2 billion people need such a financial instrument. A backward economy of several countries leads to a fast devaluation of their national currencies, and for many Bitcoin remains the sole opportunity to save their funds.


(https://steemitimages.com/p/6VvuHGsoU2QBt9MXeXNdDuyd4Bmd63j7zJymDTWgdcJjnztmvxAsUp6ubbaNrbnJ2xz8MuewntixvZSzBe1NsbY3uCTPcVNvFMV63ApUNpqNjyTBZrTsTGg5AjTZzn?format=match&mode=fit&width=640)

Meanwhile, the stability of the U.S. dollar largely relies on the foreign policy and military campaigns of the USA. For instance, one M1 Abrams burns up to one litre of petrol in idle run, and they do not kill their engines in flashpoints. In 2019, a report was published, estimating the carbon footprint of the U.S. Armed Forces in 140 countries of the world. If they were taken as a sovereign state, their energy consumption would be the 47th in the global ranking between Peru and Portugal.

John Lennon’s son Sean Ono has not stood aside from Bitcoin criticism: “Ppl wearing jeans and drinking coffee and eating almonds and avocados and driving cars and taking flights and using cellphones and buying new computers while complaining that #bitcoin uses electricity (70% of which is renewable).” In his opinion, everyone should start with themselves and moderate their consumption of resources.

In 2015, Natural Resources Defense Council estimated that the electricity consumption of inactive devices connected to the U.S. power grid totaled 1,375 TWh/yr. It is twelve times bigger than the current Bitcoin network power.

Subscribe to enjoy great ideas!


StormGain Analytics Group
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on May 20, 2021, 06:45:07 PM
Bitcoin: Who Is Selling and Buying Right Now?

Retail and institutional investors behave differently in the times of large corrections on the crypto market. The current 50% Bitcoin retracement from its historical high is no different.

Elon Musk’s change of mood coincided with an overheated market that has growth threefold this year alone. Tesla has not sold its coins (as claimed by Musk) but its refusal to accept BTC as payment has triggered a slight panic on the market.

As in the last year, retail investors began to transfer their Bitcoins from their wallets to exchanges to sell them. Meanwhile, institutional investors are buying the cryptocurrency at lower prices. The difference in the behavior of the two groups of market players come to the surface thanks to the different types of target audiences of different exchanges. Retail investors primarily trade on Binance, while Coinbase’s trading volumes are primarily provided by institutional players.


(https://steemitimages.com/p/6VvuHGsoU2QBt9MXeXNdDuyd4Bmd63j7zJymDTWgdcJjnzu4BxgMXrobNHvf1rFSanPxbknoiVnguHwZcaGkKPw78XCy8mwMzbkAnRuuDJM6JGQWTY3ssRkue4feBp?format=match&mode=fit&width=640)

On 17th May, Binance registered an inflow of 26,000 BTC, while Coinbase registered an outflow of 146 BTC. Similarly, big players were buying the fall in March 2020.

The MicroStrategy CEO Michael Saylor is not far behind, having announced a purchase of 229 BTC (%10 million) on 18th May at an average price of $43,633 per BTC. The company’s total balance exceeds 92,000 BTC ($2.3 billion).

Meanwhile, different analysts demonstrate different approaches. Thus, Carter Worth from Cornerstone Macro predicts a drop to $29,000, which corresponds to the coin’s traditional big retracement worth 55% from its ATH. Bank of America has surveyed 194 investment fund managers and has found a growing interest toward Bitcoin as a long-term investment.


(https://steemitimages.com/p/6VvuHGsoU2QBt9MXeXNdDuyd4Bmd63j7zJymDTWgdcJjnzwHVMamriq38UuDUEvPtZRrqQbr2tdUWtTmQZd32JqUrQ5ivnxDoARBH1ui2DX5xmktgKwdueYXJV8EEi?format=match&mode=fit&width=640)

There is a third category of investors who do not choose between buying and selling Bitcoin but invest in the most promising altcoin – Ethereum. At present, its market capitalisation is worth 45% of Bitcoin.

(https://steemitimages.com/p/6VvuHGsoU2QBt9MXeXNdDuyd4Bmd63j7zJymDTWgdcJjnztiCyz9DvdESr9Te8nzQ7SydtHqRgyhzTqDJnJPy54nD6kTEB7zf58LFriTaj1ZNrAPP2Uuu3ux97mAAS?format=match&mode=fit&width=640)

The founder of Investment Ark believes that institutional investors underestimate Ethereum, so her fund has bought Ethereum Grayscale Trust shares for $21 million in the first quarter. It was the right choice as Ethereum Grayscale Trust shares have grown by 179% this year as Grayscale Bitcoin Trust shares – only by 1.7%.


StormGain Analytics Group
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on May 24, 2021, 01:46:09 PM
Bitcoin’s Correction Has Refreshed the Market

The bull run of 2020 increased the level of greed among investors, many of whom had forgotten that this is a high-risk market. As a result of the sudden but not too big retracement, all margin buys were discarded from the market. A slight panic increased the level of volatility in Bitcoin up to 80%, and up to 139% in Ethereum.

(https://steemitimages.com/p/Zskj9C56UonWToSX8tGXNY8jeXKSedJ2aRhGRj6HDecqrdqzQyYMCv2eiHW8ic1nE7zXW6kFEAHYBQrGEeNes6VW5FWNFsgoXuNxSEhHGob2P55bs342?format=match&mode=fit&width=640)

In the period from February to May 2021, Bitcoin was in a limited price corridor, which many associated with the accumulation of liquidity for the next bull run.

(https://steemitimages.com/p/Zskj9C56UonWToSX8tGXNY8jeXKSedJ2aRhGRj6HDecqrigYq53TYyz12ZNmVUSAsmLhESAv1kyqmdqmJaVH9Vpo3KFGoEu395WbB8RPuegvRtLh1KMx?format=match&mode=fit&width=640)

Judging by the growing rate funding rate, it looks to be the case: the more traders are buying cryptocurrency with leverage, the higher becomes the commission for holding a position. But a series of negative news, including Musk’s overkill and the tightening of China’s policy, have led to an adverse resolution: Bitcoin has lost over a half from its highs, and the markets have already leveraged out all margin investors.

(https://steemitimages.com/p/Zskj9C56UonWToSX8tGXNY8jeXKSedJ2aRhGRj6HDecqreb1ad6MVJRcCVoAG8wVPhfDyRMQ6GhVqvM1jK8BjjhbHzAB2iEhhgpYBpKbvZFEUE6HkdSN?format=match&mode=fit&width=640)

At some moment, even the swaps became profitable, making long-term purchases more attractive the shorts, but currently they are at near-zero yields. The correction in cryptocurrencies has brought the market down to earth, having liquidated the leveraged positions. It decreases the load on the network coming from active speculations. Thus, the commission in the Ethereum network has fallen to $23 after peaking to $70 on 12th May.

The institutional demand revealed in open interest towards Bitcoin has reduced by $5 billion. For some time, this will help to further lower the rates, because high-net-worth capital holders are less interested in high volatility than regular traders.

(https://steemitimages.com/p/Zskj9C56UonWToSX8tGXNY8jeXKSedJ2aRhGRj6HDecqrenUfoSuG27CEbBHQnGajC4nozGABms5f2xoTK8w62vy9FNzKJ3GZ9WnrRfZPKy3qv2LRJ1t?format=match&mode=fit&width=640)

However, there are some who have used the price fall. The portal itsblockchain has traced the transactions of a whale: he or she sold 3,000 BTC on 9th May at an average price of $58.500 and bought 3,521 BTC at an average price of $44,500 on 15th – 19th May. Thus, the investor was able to make a profit of $18.7 million, having increased his or her holdings by 521 BTC.


StormGain Analytics Group
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on May 25, 2021, 12:35:24 PM
West Is Buying “Chinese” Cryptocurrency

This time, Chinese government is putting pressure on cryptocurrency miners and investors through commercial banks and financial institutions: clearing, payments and cryptocurrency insurance are under a ban. Despite foreign registrations, the biggest Chinese crypto exchanges have reduced the list of services, and the crypto market has shrunk by $1 trillion in two weeks.

(https://steemitimages.com/p/Zskj9C56UonWToSX8tGXNY8jeXKSedJ2aRhGRj6HDecqrgXKA752PD2fSNyQg2LHDC2KcbYqKMEpwSjrpMXgj3nyBqB3SymJxbfx4nYECfNvmgmPwhy8?format=match&mode=fit&width=640)

The leader of the Chinese market is Huobi with $18 billion worth of daily trading volumes, the second is OKEx. Given the issues at hand, Huobi has stopped providing leverage to new users “from several countries and regions” – for which read, China; and OKEx has closed its trading pairs with Yuan, starting from Monday, 24th May. Huobi with its 8th by capacity mining pool in the world is closing access to the residents of continental China.

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The Chinese negativity has triggered a cryptocurrency sale with a subsequent conversion of stablecoins into Yuan, which caused 12% volatility in USDT/CNY. While Chinese traders were trying to sell their cryptocurrencies and get Yuan, while it still was possible; Western investors were buying the devalued coins. Glassnode reports that the whales (10,000 to 100,000 BTC) bought 123,588 BTC during the downfall. The buying was mainly going in the U.S. as Bitcoin was trading with a premium of $3,000 during the fall, compared to other crypto exchanges.

(https://steemitimages.com/p/Zskj9C56UonWToSX8tGXNY8jeXKSedJ2aRhGRj6HDecqrfm2pN5kq6pB6dRpLtAggLGpK2KvrkFSHrxTtrZ18WiiBETRC4gjDYQKSMhRA97NARygWGyc?format=match&mode=fit&width=640)

China accounts for around 50% of the world’s hashrate and 60% of perpetual future contracts volumes. Another series of persecution of miners and investors can cause global changes in the structure of the world’s crypto finances. In early November 2020, the Director of National Intelligence John Lee Ratcliffe wrote an address to the SEC Chairman Jay Clayton suggesting allowing American companies to compete with China in the field of digital currencies. Possibly, in the near future the USA will lead the way in terms of hashrate and cryptocurrency trading volumes.


Analytical group StormGain
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on May 26, 2021, 11:55:54 AM
Don’t drop the ball on DOGE: why the profit potential of the meme crypto has never been higher

Dogecoin (DOGE) is wagging its tail once again as Elon Musk promises to teach devs new tricks. To celebrate the stunning rise of the canine cryptocurrency, crypto exchange StormGain is offering Doge along with a one-of-a-kind bonus to its unique Bitcoin cloud miner. Just head over to StormGain, register and enter the promo code DOGESG to get free 5 USDT in the StormGain Cloud Miner, which earns you free BTC while you trade.

After a less than stellar performance on Saturday Night Live during which the most hyped cryptocurrency received only a passing mention, you might be forgiven for thinking that Elon Musk had also only been joking about Dogecoin, but don’t be too quick to discount the Dogefather.

While Musk’s lukewarm SNL spot sent Doge down with its tail between its legs, a new Twitter comment from Elon on Thursday, which said that Tesla and its CEO are “working with Doge” developers to “improve system transaction efficiency,” resulted in 22% gains over a 24-hour period for the canine cryptocurrency as it clawed its way back to 0.52 USD at the time of writing. This dog’s still in the fight, and according to experts, has yet to have its day.

“Dogecoin is an unforgettable part of crypto’s story,” said Alex Althausen, CEO of the StormGain crypto platform, “it comes from the same playful internet culture that created crypto in the first place and that’s why creative thinkers like Musk are always going to be supporting it. But what we see happening now is Dogecoin moving beyond its meme status, potentially getting an upgrade and seeing adoption in big tech. This is a really special moment for Doge, and the right time to invest in the coin before the next big jump. We could see this early on, that’s why we’re proud to offer DOGE ahead of many of our competitors.”

StormGain offers several unique advantages for trading Dogecoin and other digital assets. The crypto exchange platform is extremely user-friendly, packing easy-to-understand but powerful charts, signals and analytical tools into both its web platform and mobile app. Furthermore, StormGain operates on a profit-sharing model - users only pay commission on profitable trades. But its most unique feature is its integrated Bitcoin cloud miner that gifts BTC to its users just for spending time on the platform. By using the aforementioned code, you can get a head start on earning BTC while you trade DOGE, Tesla crypto stocks, and over 55 other crypto instruments on StormGain with up to x300 leverage. Don’t miss out, the countdown has started and DOGE is about to lift off!
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on May 27, 2021, 03:43:10 PM
Millions of Subscribers Lose Millions on Musk’s Tweets

Is Elon Musk the godfather of cryptocurrencies or an evil genius chasing his own interests and holding the public on a doge leash. A former SEC analyst Marc Powers believes that the regulators should check Musks crypto tweets.

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In September 2018, Elon Musk was already accused of fraud by the US Securities and Exchange Commission (SEC) for publishing false and misleading tweets. Tesla and Musk agreed to pay $20 million each for a pre-trial settlement. Those funds went to the treasury, but the shareholders did not get compensated for the alleged financial losses. Elon was also obliged to coordinate his tweets about his company.

In 2019, the U.S. Federal Trade Commission issued a list of normative requirements for influential individuals and celebrities: they had to publicly report their profits associated with the recommendations of products. Thus, Floyd Mayweather and DJ Khaled have been called to account for cryptocurrency PR, but Elon Musk has somehow escaped the regulators’ sight.

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In the recent years, Elon Musk has been actively promoting Dogecoin and has even suggested making it the Mars cryptocurrency. As a result of this PR campaign, the meme coin became a top 7 cryptocurrency by market cap (the 4th at its high), and now 29% of Americans know about Dogecoin, while only 21% know about Ethereum, according to the polls of Harris Poll and CouponCabin.

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Elon Musk believes that it is enough to increase the block size of Dogecoin 10 times to make it the number 1 crytpcorrency. Vitalik Buterin responded to this, saying that it would be impossible to implement such a change without massive centralization of the coin, which will destroy the basic value of the blockchain network. Elon simply laughed it off:

(https://steemitimages.com/p/Zskj9C56UonWToSX8tGXNY8jeXKSedJ2aRhGRj6HDecqrf3iMtxoWuiev75ccmFhqEB113RJxUepLEKv3oXRWtTJ2nE5Xof8YGPtEAY9XHZFPJgCmgMt?format=match&mode=fit&width=640)

The former SEC analyst Marc Powers believes that the regulators should more rigorously inspect Elon Musk’s posts as his actions can lead to multimillion losses of his subscribers. Besides, Elon Musk’s words can also hold personal interest.

When Bitcoin reached the $60,000 mark in March and became one of the most popular search queries, Tesla announced that it would sell its cars for the cryptocurrency. However, chasing the hype, Elon Musk did not take into account that the top officials of China – the biggest car market – did not favour cryptocurrencies.

Tesla instantly became an objectionable company, and Mode3 sales dropped by 30% in China in April. (this was officially explained by a general slump on the electric vehicles market). Musk had to reverse his stance on Bitcoin, acknowledging its negative environmental effect, and rejected to accept it as payment, bringing down the crypto market and setting crypto enthusiasts at odds with himself. But New York Times twice spoke about the Bitcoin energy consumption problems in 2018, so there was nothing new about it.

We will not go into the rumours of Elon’s savings in Dogecoin, however we have to agree with Marc Powers: Musk has got a large fan audience that can act to its detriment under his influence. Elon has failed to boost Tesla’s sales on the wave of Bitcoin’s popularity, and he has quickly turned away from that idea. And those who bought Bitcoin at its highs with leverage, have found themselves down in the gutter.


Analytical group StormGain
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on June 01, 2021, 12:49:33 PM
NFT Market Benefits From Cryptocurrency Crash

In May, the capitalisation of the cryptocurrency market cap fell by 42% or around $1 trillion. As a result of the retracement, about $1 million leveraged trades were liquidated. However, the NFT market continued to grow: compared to January, the trading volumes jumped by 277% to $5.8 million per day. The recent crash has given NFTs a second wind.

An NFT is a non-fungible token that serves as an equivalent to a certificate or a signature. It can be linked to a digital artwork or legal transaction parameters, but it cannot be falsified or changed. The convenience of using NFTs has already been appreciated in digital art: these tokens have been sold at Sothbey’s and Christie’s auctions, and Mike Winkelmann’s image was sold for $69 million.

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The advantages of NFTs include the transparency in buying and selling artworks, a quick identification of the true owner, the possibility to include additional parameters (such as royalty payments to the author from each resale). The cost of the token is normally the same as a transaction in the Ethereum network (most of the NFTs are built on the ERC-721 standard of Ethereum’s blockchain).

A large transaction fee would scare away many participants from creating their own NFTs as the average fee reached $70 in May.

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Ethereum’s problem is in the uniqueness of smart contracts, which caused an explosive growth of the NFT and DeFi markets. Because of the increased workload, the commissions would have continued to grow, but May’s market crash cooled them down – the current commission is around $8.

A relatively low commission will allow startups and young artists to use NFTs more actively for promoting their artworks. Thus, GameStop is planning to enter the NFT market, after having received support from general public earlier this year. The company has launched a site nft.gamestop and opened vacancies in the fields of cryptography and design. Another example is Christie’s auction where the works of 19 modern artists and even a fashion film by Gucci will be sold.

(https://steemitimages.com/p/Zskj9C56UonWToSX8tGXNY8jeXKSedJ2aRhGRj6HDecqrjcLVnMeoc7V31dkUhCSBSqy5EE5C86ysNuPJ5wp1EgwiKwqA8BB2ztScYArtE6db1NA9kQv?format=match&mode=fit&width=640)

Being more practical and universal, Ethereum is recovering faster than Bitcoin. The continuing NFT market’s growth will give NFTs more support.


Analytical group StormGain
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on June 09, 2021, 01:35:39 PM
Why MATIC’s 8,500% Growth in One Year Is not Ceiling

In May 2021, the cryptocurrency market underwent a considerable setback. However, MATIC (Polygon) saw +118% growth despite the general dynamics. This exemplifies not the coin’s strong positions in the market but also the ability of certain projects to resist the market’s setbacks.

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Ethereum’s basic problem is its network’s high congestion and its slow proof-of-work protocol. As a result of the smart contract rush, its transfer fees rose above Bitcoin’s network fees, reaching $69.50 pm average. MATIC solves this problem by increasing transaction throughput to 65,000 transactions per second with a fee of $0.001.

MATIC was created to be integrated with Ethereum as opposed to the ‘Ethereum killers’ Polkadot and Solana. That’s why MATIC was a bigger winner in the rally experienced by the DeFi market, most of whose platforms are deployed on Ethereum’s network.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSrnb4vzn8BifeJFhS6agHyJ29XvhRgJ6JgbSFCF8fdMnQmhheaC6ZYr7BKGZ1ESMnTQqk?format=match&mode=fit&width=640)

Currently, MATIC’s capitalisation stands at $9 billion, ranking it 17th overall. In May, the number of Polygon’s daily active users grew from 7,500 to 28,900. In addition, Aave recorded a 156% growth in the number of addresses after it integrated with Polygon, which made it the number 1 platform among DeFi projects.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSgwWYmC1EB9G3Z1LLks4CdFK83iDB1Bzy7M1whDPtQ6h8P3Nd5FviHaKgYPMGfge9i5YA?format=match&mode=fit&width=640)

On 26 May, reports emerged that Mark Cuban — the billionaire owner of the Dallas Mavericks basketball team — had invested in MATIC. The sum was not publicly revealed, but on 27 May, Polygon’s co-founder spoke of a ‘significant investment’ being made.

The DeFi market grew 60-fold in one year. Users don’t want to pay $10 per transaction, so the demand for low-fee solutions will grow. The only thing threatening Polygon is Ethereum’s transition to a proof-of-stake protocol. However, Vitalik Buterin has said that 2022 is the closest mark, and a full network deployment might take about six years. Until then, the huge difference in fees and transaction speeds will help MATIC’s growth.


The StormGain Analytics Group
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on June 10, 2021, 05:51:44 PM
MicroStrategy Goes All-In, Averaging Down Its Bitcoin Buys

Experienced traders know that the averaging down strategy can be dangerous. However, MicroStrategy's analysts believe that the market setback is a good opportunity to increase position volumes. But how much risk does this game incur?

Averaging down means buying more of an asset when the price is falling. If you buy Bitcoin at $60,000 and $40,000, the average price paid is $50,000. In this scenario, the investor makes a profit if the price goes above $50,000 but doesn't reach the initial buying price of $60,000.

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If you're confident the price will increase, things look good. Problems arise, however, if the price drawdown continues or consolidation occurs over an extended period. Classic trading and investment literature suggests closing your position if the fundamental base has changed or the risk exceeds the expected level. But that's well and good if you're managing someone else's money.

MicroStrategy is a publicly traded company that borrows funds by selling its stock for quality capital management. When it's successful, all shareholders receive profit through dividends and higher stock prices. However, a shortage of funds for operating activities would threaten the company with bankruptcy and its investors with the loss of their investment. The company's management decided to walk on thin ice when it announced a $400 million bond issue maturing in 2028 to buy Bitcoin again.

This is not the company's first purchase of the cryptocurrency with additional collateral. It also issued $1 billion in debt securities in February when it bought Bitcoin at an average price of $48,000. Presently, MicroStrategy is one of the biggest public holders of Bitcoin, with a total of 92,079 BTC. However, a company's general financial condition can be properly assessed by its stock prices:

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Bitcoin doesn't have to dive too low to swallow up buyers like MicroStrategy. If Bitcoin's price consolidates for a few years, the company will be unable to repay its debt.

Institutional investors caused the 2020 rally, but they also overheated the cryptocurrency market by pumping large sums of borrowed funds into it. Young retail investors already felt the power of a cryptocurrency storm when all leveraged positions were liquidated in May. Is it time for the big fish to follow suit?


The StormGain Analytics Group
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on June 11, 2021, 12:47:36 PM
Simple trading strategies for the crypto age

Congratulations on your decision to begin trading what is perhaps the most lucrative asset class in existence! There’s no denying that crypto has created more millionaires than any other instrument type in recent years. Experts believe this growth is set to continue well into the future. But while there certainly is a lot of money to be made in cryptocurrencies, your chances of doing so are pretty slim if you don’t devise and stick to a proper strategy.

With all this talk of huge profits for Bitcoin traders, it’s easy to forget that their gains are other people’s losses. When someone makes $500,000 on BTC in a day, that means somebody else (or several other people) have lost just as much in the same amount of time. Extreme volatility means extreme risk and opportunity. Striking the right balance between the two is absolutely imperative. A solid trading approach is hands down the most practical way to achieve this. Here are two easy strategies depending on your personal risk appetite.

Tether-cost averaging

This simple strategy comes from the world of value investing and has been used by equities investors for decades, where it is known as Dollar Cost Averaging (DCA). You know what they say: if it ain’t broke, don’t fix it. Cost averaging is perfect for cautious newbies or die-hard hodlers alike because it protects you from the market’s ups and downs while also giving you a handsome average return. Let’s say, for example, that you buy $150 in Bitcoin once every Monday from 1 January 2018, spending a total of $26,700 and resulting in 5.07 Bitcoin (worth $190,217 at time of writing). If you’d spent $26,700 on Bitcoin all on 1 January 2018, you would’ve ended up with just $64,080 worth of Bitcoin (1.6 BTC). As you can see, the power of DCA is incredible, especially over extended periods of time. It requires patience and commitment, but the rewards in compound interest and prime buying opportunities make it well worth your while.

RSI divergence

If you’re a bit more ambitious and fancy trying your hand at day trading, this is a good entry-level option. As you probably know, the Relative Strength Index (RSI) tells us when an asset is overbought or oversold. That gives us an idea of whether it is likely to fall or rise, respectively. The RSI divergence strategy goes further by looking at discrepancies between the price and the RSI indicator, which allows it to identify when the price trend will change direction before it actually happens. Typically, both the price and the RSI move almost in lockstep. However, the price might occasionally trend down while the RSI rises and vice versa. This signifies a subtle shift in buying or selling volume and is a strong signal that momentum is in the early stages of reversing. The four-hour or daily charts are the best places to look for divergences because they show stronger shifts in the mid-to-long-term trend. StormGain allows you to overlay the RSI directly onto the in-app instrument chart to make your analysis even easier. Once you spot a buying opportunity, you can open a trade without having to switch tabs.

No substitute for practice

Before you even consider trading Bitcoin, Ethereum or anything for real, you simply must have some practical experience under your belt. A great way to do this is via a demo/practice account, which is pretty much the same as the real thing, except that you’re only trading imaginary money instead of your own hard-earned cash. One platform that offers a generous $50,000 USDT demo account is StormGain. With a balance like that to play with, you can try out a whole range of different strategies until you find one that suits you. Apart from honing your general approach, demo accounts also give you valuable experience with Stop Loss/Take Profit orders and leveraged trading. This means that when you start trading on a live account, you can avoid the costly teething problems that plague new market entrants. And if you simply can’t wait to get going, StormGain’s cloud miner offers a great, risk-free way to build up your Bitcoin balance while you prepare yourself for the big leagues. Just leave it running and wait for your payouts to start rolling in!
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on June 16, 2021, 03:04:07 PM
Inflation Is Boosting Interest in Gold Tokens

The Bitcoin rally of 2020 was caused by institutional investors who expected the U.S. dollar to lose value. The cryptocurrency is still seeing a 300% profit year-over-year, but its recent setback has pushed some investors’ interest towards tokens pegged to gold.

Despite the optimism of U.S. Federal Reserve Chairman Jerome Powell, inflation continues to grow above market expectations, hitting 5% year-over-year in May.

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Prices are rising on everything, including food, construction materials and real estate. Meanwhile, some industries are experiencing a labour shortage, which is causing wages to grow. That, in turn, is further accelerating inflation because workers are earning more and thus spending more on services and products.

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A number of investors are scared of Bitcoin’s volatility, preferring tokenised gold instead. Gold tokens are issued in the ERC-20 standard, which gives them protection and a high degree of cryptographic protection. Until recently, the token issued by Tether was in the leading position before institutional demand pushed PAX Gold to first place.

(https://steemitimages.com/p/3ossSWoLBnTDBGAQkAZ1aSQq54r9GMFgSia824jPo9mgBFy8Hp79kE7hRhESLSsbT7qEfpbqMHonMVsXwJRnY2ZPpLZZwzixFWDdsAT2N7Fzp1uZK1zXvpTxgEsx9VbBzHgoL1uTTTzePTBC3zpU9aJYQpReuJuNivWcKyFXXAaoWaZBE2nhPm7CHVnEvpsD5ghLVeoRFQuUW3imrtZsri7izEVXMkcoYKbpf4ejAasnfctQVvhshhXgsrAevCsLYear?format=match&mode=fit&width=640)

PAX Gold was issued in September 2019 by Paxos, a company licensed by the New York Department of Financial Services. According to data compiled by Arcane Research, the token’s capitalisation sits at over $263.3 million.. Every purchased token is backed by physical gold and is held separately from the company’s assets.

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Investors are looking for ways to protect themselves against inflation. One traditional way of doing so is by investing in gold, which has more liquidity and smaller commissions compared to an unallocated metal account (UMA). Inflation growth will cause another rally in the precious metals market, and the 3,000% growth gold tokens have seen over a year and a half confirms the interest in this asset class.


The StormGain Analytics Group
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on June 21, 2021, 04:59:59 PM
United States Space Force Launches NFT

While some are debating the practicability of cryptocurrencies and trying to define their legal status, others are expanding their area of application. This is how Porsche, the French Football Federation and the United States Space Force are entering the NFT market.

NFTs are non-fungible tokens that provide copyright protection and an easy way of transferring ownership using blockchain technologies. Most often, NFTs are used on the Ethereum blockchain, which is one reason why Ethereum is growing faster than Bitcoin this year.

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At the end of 2020, the NFT market was valued at $338 million. Presently, that number’s well above $1 billion as more companies want to use NFTs for promotional purposes. The first to discover the practicability of NFTs were digital artists. Athletes then followed suit with a vast array of merchandise for monetisation.

One of the biggest events of the year is the European Football Championship. The French Football Federation (FFF) became one of the first five football associations to conclude a licencing agreement for digital collectables. NFTs with the France internationals were listed on the Sorare platform. The token’s price depends on the player’s performance. The platform’s record was set by the Cristiano Ronaldo token that sold for $290,000.

Carmaker Porsche decided to get in on the excitement around digital cards, too. The company announced the launch of its own Fanzone platform.

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Porsche decided to make the most of the recent trend and offered footballer NFTs, not sports cars of their own production. Currently, there are only the players from Germany’s men’s and women’s national teams.

Surprisingly, the US Space Force (USSF) has also joined the battle for digital collectors with the help of the Ethernity Chain project. They plan to issue tokens pegged to interactive 3D models of launch vehicles, Earth satellites, spacesuits and other space industry products. The NFTs will be sold at an auction, and the starting price of most of the art will be $1.

After recognised Bitcoin as legal tender, El Salvador has gone down a revolutionary path that the world’s financial regulators disapprove of. NFTs are following the evolutionary path, gradually integrating into everyday life and enhancing people’s interaction with the digital world. The CEO of NVIDIA, Jensen Huang, believes that the world is on the verge of the metaverse when the digital world will be put atop reality with the help of VR devices, and NFTs will become a functional bridge between the two.


Analytical group StormGain
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on June 24, 2021, 02:49:23 PM
The NFT bubble has burst, but BTC and Co. are still the best buy

The crypto world is crashing, or so some say, and not without some schadenfreude as they point towards two recent dramatic dips in the charts — namely, for NFTs and Bitcoin. This has prompted the crypto-critical to decry not only on NFTs as a ‘scam’ but to point fingers at the crypto market as a whole. But it’s not an attitude subscribed to by those in the know. Crypto exchange StormGain, a popular mobile and web platform for buying, selling and holding cryptocurrency, has counselled the crypto-curious to keep it classic and focus on a silver lining for crypto coins.

At the time of writing in the second week of June, weekly NFT sales total up to a sobering $9.5 million. The beginning of May saw the NFT market reach a peak, with $102 million worth of Non-Fungible Tokens sold on 3 May. It seemed like everyone was rushing to turn any piece of internet ephemera — from memes to clips to posts — into NFT ‘art’ and make bank. Fast forward to the last week of May, and we’re looking at a different story. According to Nonfungible.com, only $19.4 million in NFT sales was processed, a 90% drop compared to the $170 million in NFTs transacted the week of the peak. The downward trend is continuing in June, although not quite as dramatically.

The NFT crash is an event that coincided with a big drop in Bitcoin’s value. The original cryptocurrency has been trapped in a bear market since mid-May and currently stands at $36,000. For better or worse, BTC usually stands in as the barometer for public confidence in crypto as a whole. Despite BTC taking a hit, altcoins — which is basically every other cryptocurrency, from the well-known such as Ethereum and Ripple to new market darlings such as Dogecoin, Cardano and Pancakeswap — have been thriving in crypto exchanges in recent weeks. Bitcoin’s price remains high even during the dip (remember BTC for $6,000 in March 2020?), and the coin is lightyears ahead of where it was during the 2010s. By contrast, while NFTs themselves aren’t completely brand-new, the bubble that grew during their time in the public consciousness only lasted around four months, which is hardly comparable. In short, while would-be crypto art collectors might be clenching their teeth right now, cryptocurrency traders have nothing to fear. In fact, it’s a time of opportunity.

“What we’re seeing is not so much a crisis of confidence but more a correction that will turn out to be healthy in the crypto space,” said StormGain CEO Alex Althausen. “Cryptocurrency is growing, evolving and becoming more profitable than ever, and this can lead to these inflated hype cycles, opportunism, sure. But in the long term, holding and trading digital assets remains a fantastic way to build wealth. The key is seeing crypto as a wider ecosystem: you invest broadly, you have a resilient portfolio, and you don’t get dragged along by rises and dips. You make them work for you. That’s why we’ve been focused on expanding two big things: a range of assets so that clients can really diversify and the in-depth knowledge base that helps people understand crypto market behaviour”.

The CEO went on to describe a key distinction between actual cryptocurrencies and NFTs. The digital instruments on StormGain all have actual real-world technological applications and are not subject to the fickle tastemakers of the art and collectables market. As blockchain adoption increasingly becomes the norm in the finance world, cryptocurrency isn’t going away. While NFTs resemble trading cards, Bitcoin and other cryptocurrencies are more like oil, stocks or gold; they play a much more important role in the economy.

Just like with stocks and gold, market trading is a game of short-term tactics and long-term strategies. That also holds true for digital gold: to play the long game, it helps to know the nature of the market as thoroughly as possible. To that end, we invite you to research thoroughly and remember to build a diverse portfolio for trading! StormGain’s educational resources are packed with information for beginners and experts alike and are a great place to start. For anyone who is curious to try the trading app in action, the platform also offers a wide range of assets, including crypto indices for risk management. You can try StormGain’s free demo account and practise trading in real market conditions to test its training materials for yourself.

The current cryptocurrency dip provides a great opportunity to buy and build wealth in the long term. As for NFT art, well, who can really put a price on beauty?
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: Libertex on July 15, 2021, 11:59:30 AM
NFT furure
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on July 15, 2021, 12:46:54 PM
A bad month for bitcoin

Right now, bitcoin’s price has consolidated around $30,000, but it still shows potential signs of further decline. China is criticising cryptocurrencies, US Senator Elizabeth Warren has issued an ultimatum to the SEC, and the Grayscale fund could sell bitcoin for about $500 million.

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On 8 July, Fan Yifei, the deputy governor of the People’s Bank of China, called stablecoins a danger to the global economy. In his view, this especially pertains to coins issued by commercial organisations like Tether. This statement was made just 10 days after the president of the Federal Reserve Bank of Boston, Eric Rosengren, called Tether a “challenge to financial stability”.

Stablecoins interlink fiat currencies with cryptocurrencies, and most cryptocurrency exchanges use Tether as a base currency. Representatives of the largest financial systems were not impressed by the fact that Tether is backed by consolidated assets exceeding its capitalisation, and the New York Attorney General’s Office was satisfied with the results of an external audit.

On 7 July, US Senator Elizabeth Warren wrote to SEC Chairman Gary Gensler, asking to clarify the regulator’s powers in the area of protection of crypto investors’ rights: “Investors have remained in the arms of manipulative and fraudulent actors due to the lack of rules”, she wrote. According to the senator, the cumulative losses incurred due to crypto fraud between October 2020 and March 2021 was $80 million. On top of that, LJM (an entity licensed by the SEC and CFTC) lost $1 billion of investors’ money in just two days in 2018, when regulators weren’t paying attention to high-risk trading.

In addition to regulatory complications, bitcoin’s supply may grow in July. A number of institutional investors have preferred to buy equity in the Grayscale Bitcoin Trust (GBTC), a crypto fund. In December 2020, the market was hot, and investors were buying shares with a 40% premium. Now, the equities are being traded at a discount while institutional players have switched to the Canadian Bitcoin ETF created in February 2021.

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GBTC has a unique feature that prevents investors from selling shares within 6 months. This month, positions worth $530 million that were opened in December 2020 will be unlocked. The current price is slightly above December’s close, which may cause investors to exit.

As such, bitcoin’s environment is becoming less positive. Regulation will be tightened, and many investors can offload their holdings. Altogether, these factors can drop the cryptocurrency to below $30,000.


The StormGain Analytics Group
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on July 23, 2021, 03:14:30 PM
How to cash in on the crypto crash

The price of Bitcoin — the first cryptocurrency — has suddenly crashed to under $30,000 after several weeks of struggling to hold on to its gains. And where BTC goes, altcoins tend to follow. Ethereum (ETH), Binance Coin (BNB), Cardano (ADA), Ripple (XRP) and Dogecoin (DOGE) all took double-digit dips.

What could explain the dramatic drop? Elon Musk’s tweet stating that Tesla would no longer accept Bitcoin for vehicle purchases due to “environmental concerns” has been cited as one factor. But even the mighty Musk doesn’t have the impact that China does.

The Chinese crackdown on crypto has seen its financial institutions banned from dealing in crypto transactions, including clearing, trading, and settlements. This was followed by an exodus of mining operations from the Asian superpower. Another blow comes from the USA, where a recent cease and desist order issued to New Jersey-based Bitcoin financial services platform BlockFi by the New Jersey Office of the Attorney General and the Bureau of Securities seems to have triggered a wave of panic among speculators, who are looking to get out of the market.

What does this mean for traders? While trading during a market crash can be emotionally tense, it’s also a time of opportunity. One only has to consider how much profit could have been made buying more Bitcoin during its $6,000 low point last year!

First of all, stay calm and assess the situation. Panicking and acting on impulse is rarely a good move in the market. You want to profit from other people’s panic, not participate in it. Consider your goals: are you looking to profit from investing in crypto in the long term or make a quick profit in the short term? Is your investment of an appropriate size (i.e., can you afford to take a hit in the short term)?

Remember that volatility is a persistent feature of crypto markets and is, in fact, the best way to profit from it. Previous Bitcoin price tumbles in 2017-2018 and as recently as 2020 provided golden opportunities for traders who bought low and sold high when the market bounced back.

Depending on your position, you may want to sell to salvage in the short term or lean into your investment for the long term. Alternatively, a hybrid approach could be safest: divest yourself of the assets you are least sure of but hold on to some to profit when the bull market returns.

Above all, don’t forget to use the full range of StormGain features to make your decisions. Check our trading signals to evaluate market conditions before you make a move. Keep an eye on the full range of altcoins to see any that might break the trend (remember, DeFi tokens did remarkably well during previous BTC price dips). And remember: you can trade to profit from volatility.
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on July 30, 2021, 01:24:04 PM
Kazakhstan – the new mining capital

Two months ago, China recognised mining as an unwanted activity. This caused a record slump in the hashrate and a migration of miners to more welcoming countries. They did not have to go far: neighbouring Kazakhstan seized the opportunity that fell in its lap.

(https://steemitimages.com/640x0/https://cdn.steemitimages.com/DQmbgDwQ21bvqmvgDLPvypX7sMtMv3EQaAbKMv3WUyNezgw/1.png)

The shutdown of Chinese mining rigs led to a power decrease in the Bitcoin network from 190 EH/s to 70 EH/s. However, starting the second week of July, the value began to grow, currently sitting at 108.8 EH/s. The hashing power began to grow because Chinese miners started to deploy their mining equipment in other countries. For instance, BTC.com, the biggest mining pool from the Sichuan province, is moving to Kazakhstan, a choice that wasn’t accidental: Kazakhstan shares a border with China, provides cheap electric energy and is open to host cryptocurrency miners.

Kazakhstan increased its share in the world’s hashrate from 4% to 7%, and the new legal framework can make this country the crypto capital. For instance, crypto exchanges registered in the Astana International Financial Centre will soon start to work with local banks, and citizens will be able to buy and sell cryptocurrency. This is currently just a pilot project, and the operations on the exchanges will be available for legal entities only.

According to the chief coordinator of the Blockchain Association in Kazakhstan, Sergei Putra, the daily volume of cryptocurrencies equates to billions of dollars. If the country manages to acquire 1% of this volume, this money will go to Kazakhstan in the form of investments, taxes and wages.

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The miners will also contribute to the treasury. Starting from 2022, an additional fee of 1 tenge will be charged for every kilowatt used. With the current consumption level of 3.5 TW/h, the revenues will constitute 3.5 billion tenge or about $ 8.225 million per year.

Kazakhstan is taking its first steps towards officially recognising cryptocurrencies. We hope this experiment’s success and tax growth will lead to a mainstream integration of new products.


The StormGain Analytics Group
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on August 02, 2021, 05:41:14 PM
Bitcoin is preparing for a new supercycle

After two months of consolidation, a fake news impulse was enough for Bitcoin to climb to its key resistance level. Recent metrics indicate a swift breakthrough above $40,000 in the near future.

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On Sunday, the City A.M. in London published an 'inside' report about Amazon's plan to include bitcoin in its list of accepted payment methods. The news led bitcoin to its best movement in the last six months, surging 14% in 12 hours. The refutation published later didn't cause BTC to retrace its rise, which implies increased interest in this cryptocurrency and high growth potential. There was the biggest one-day bitcoin withdrawal from exchanges in the past 12 months, with 57,000 BTC being moved to cold wallets on 30 June.

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Analytical agency Stack Funds points to the similarity between the derivatives market in its current cycle with what was happening in Q4 2020 when bitcoin showed threefold growth after a prolonged consolidation. Analysts remain cautiously optimistic regarding the start of a new supercycle.

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There's active resistance between $41,000 and $43,000, where substantial volumes have been accumulated, including bearish hedge orders. A breakthrough above this level will open the path towards $50,000.

(https://steemitimages.com/p/8SzwQc8j2KJZWBXFXnbnQ1FtoZhRqrTWozhqoqWHpGmpmo61ZJgD3TTT831FMRnsd38Z6ZsVvTek5rjcjDHixQNgmaRzvKon18pk3YESBNP5FfHFJCN?format=match&mode=fit&width=640)

A growing interest in bitcoin is also seen in the increasing number of users. From the nine-month period between May 2020 and January 2021, the audience grew from 65 million to 100 million. Just six months later, it grew again from 100 million to 221 million people.

(https://steemitimages.com/p/8SzwQc8j2KJZWBXFXnbnQ1FtoZhRqrTWozhqoqWHpGmpmoMPGKpyLog5UpA45nbXmgAwKoyDs6ZFEQTo8J2Ya8RmhHrEwbRx9Mc7a28nK1p8QuPQZKU?format=match&mode=fit&width=640)

The number of crypto users continues to grow despite regulatory frameworks becoming stricter in some countries and China's crackdown on miners. The bitcoin network's hash rate has already started to recover, and the coin's price is rising again. The time for a new supercycle may have arrived.


The StormGain Analytics Group
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on August 03, 2021, 01:13:47 PM
Climate-conscious crypto: the difference between real change and marketing

As cryptocurrency increasingly becomes part of the public consciousness, the discourse around the environmental impact of mining has become more intense. On the one hand, the singling out of cryptocurrency by some pundits clearly comes from detractors looking for any opportunity to criticise digital currencies. However, on the other hand, there's a belief that the blockchain industry — founded on the principle of forward-thinking solutions to problems of the modern economy — needs to assume responsibility for the environment.

The environment, sustainability and green energy are hot topics in the tech industry. The disruption caused by the COVID-19 pandemic and the apparent environmental benefits that occurred during the lockdowns spurred thought leaders to consider how things could be done differently, especially if another global crisis should occur in the form of a climate change emergency.

Bitcoin and other cryptocurrencies have been under the spotlight because new tokens are 'mined' using a proof-of-work algorithm that demands a lot of computing power from miners. Large numbers of powerful computers naturally demand a commensurate amount of electricity. According to the Bitcoin energy consumption index, Bitcoin uses 135 terawatts of energy every year, roughly equivalent to that of the entire nation of Sweden. Furthermore, many large scaling mining sites, known as farms, are located in regions like China that are heavily dependent on fossil fuels to generate electricity.

Critics are increasingly pointing the finger at BTC mining's energy consumption. Recently, New York-area residents complained that a new gas-fired power plant dedicated to mining Bitcoin was turning the local lake into a "hot tub", although the company operating the factory has refuted these claims. Even crypto advocate Elon Musk declared that Tesla would no longer accept Bitcoin as payment for cars due to "environmental concerns".

Musk's remarks shook the crypto market because, in many ways, the South African billionaire embodies the tension at the heart of the crypto energy issue: maintaining enthusiasm about blockchain technology's potential while remaining committed to the environment. If crypto is to fit into the new world of electric cars and green tech, it needs to find a way to be eco-friendly. This is important for blockchain adoption. Crypto exchange platforms that empower people to trade cryptocurrencies from their smartphones are becoming more popular than ever. Crypto exchanges reported a significant increase in new users as people turned to crypto as a way to earn money from home during the pandemic economy. These new users skew young, tech-savvy and climate-conscious. So how are crypto companies trying to convince them?

Ripple signs the Crypto Climate Accord: progress or PR?

Crypto mining was a hot topic at the annual UN World Environment Day on 5 June. In response to the concerns raised, the Crypto Climate Accord (CCA) was announced by a group of private blockchain organisations. Modelled on the Paris Climate Accord, the CCA declares its mission to transition all blockchains to renewable energy by 2030 or sooner and eliminating greenhouse emissions by 2040 with support from the United Nations Framework Convention on Climate Change.

The accord boasts the backing of several prominent personalities and companies, such as Ripple, Consensys, and Tom Steyer, the billionaire activist and financier. The UN's ‘climate champions’ are also on record as supporting the accord.

The CCA has noble goals on paper, but they may not amount to much in the real world. After all, the Paris Climate Accord, an official agreement among nation-states, is criticised for its failure to meet targets. So what, then, can the industry-led CCA initiative do, even with backing or regulation from governments? Essentially, the industry is promising to self-regulate, but can the crypto companies really hold themselves accountable?

Tellingly, the cryptocurrency signatories to the accord need to make the least effort to align themselves with its goals.

Research the different cryptocurrencies (we recommend using our extensive knowledge base), and you’ll notice something about Ripple. XRP does not use the energy-intensive Proof-of-Work (PoW) consensus protocol. Instead, it uses the much more efficient proof-of-stake (PoS) model, so XRP’s environmental impact is already minimal compared to Bitcoin.

The PoS consensus protocol looks like the future of crypto and is seeing increased adoption across the industry. For example, Ethereum (ETH) is moving over from PoW to PoS and will certainly reduce its carbon footprint by so doing. But if the CCA is only supported by existing users of the PoS model, it will do nothing to reduce the impact of PoW blockchains, especially BTC, which is not controlled by any entity capable of making the shift. Instead, it only serves as positive PR for Ripple and Co.

Global Bitcoin mining “mainly sustainable” and still very profitable

Bitcoin miners are aware of their operations' current energy-intensive reputation and are taking steps to assure the public that they are moving towards a greener model. A recent report from the newly established Bitcoin Mining Council has declared that global Bitcoin mining is now mainly powered by “sustainable energy”.

The report notes that “the members of the BMC and participants in the survey are currently utilising electricity with a 67% sustainable power mix” and goes on to extrapolate that global Bitcoin mining is currently running on 56% sustainable energy.

Much like the CCA, the BMC is a voluntary collaboration of private companies, including MicroStrategy’s CEO, Michael Saylor. It’s very possible that less sustainable operations would refuse to participate and thus skew the data. The Mining Council report focuses on its own members, reflecting the interests of these companies to paint themselves green.

The report also details Bitcoin’s recent hashrate drop confirming that it is the “largest linear decline for the foremost cryptocurrency’s hash rate in history”.

The near 70% drop in computing power dedicated to mining Bitcoin is largely due to the crackdown on Bitcoin mining in China. Miners are relocating their operations to other regions or selling their equipment, which may actually have positive knock-on effects for Bitcoin’s environmental impact if they end up in regions with stricter environmental controls. While BTC’s hashrate may be down, profitability remains good, largely because the pool of profits is split among fewer users.

Profit from BTC mining without wasting energy

Bitcoin isn’t moving away from PoW anytime soon, but you don’t have to buy an electricity-guzzling mining rig to do it. Instead, some companies are pioneering innovative ways to share BTC profits over the cloud. Crypto exchange StormGain leads the pack in this respect, offering a unique Bitcoin ‘cloud miner’ to its users. As traders use the platform for buying, selling and exchanging crypto, they can mine BTC that gets credited to their account without any extra use of their smartphone or computer’s resources. You can find out all the details about StormGain’s unique cloud miner here. Innovations like this are a great way to earn crypto without using excessive energy, and we recommend it as an eco-friendly alternative to purchasing mining hardware.
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on August 05, 2021, 01:30:43 PM
Bitcoin ATMs bring cryptocurrency to the masses

Many still distrust Bitcoin because blockchain technology seems puzzling to them. After all, cryptocurrency operations are only available on exchanges, and you can’t put a physical coin in your pocket. ATMs can bridge that gap because they’re familiar, understandable tools for an overwhelming majority of people on the planet.

In 2017, crypto enthusiasts and the publicity surrounding Bitcoin as a novel financial instrument were driving its rally. In 2020, interest in cryptocurrencies from institutional investors as an alternative to traditional hedging assets drove prices upward. In 2021, another rally can happen, given the interest and vast recognition of cryptocurrencies among the general public. The new ATMs will play a part in that.

In the last seven months, the number of new cryptocurrency ATMs has grown by 71% compared to last year, reaching a total of 24,500 machines. Every day, over 48 cryptocurrency ATMs are installed around the world.

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The United States is the leader in the number of active units with 86.5%, and Canada is second with 6.8%. However, the biggest increase is expected in El Salvador, which has recognised Bitcoin as a lawful payment method. In the near future, American operator Athena will single-handedly deploy 1,500 machines in this El Salvador. For comparison, Coin ATM Radar currently shows only five units there.

The spread of ATMs can cause a new wave of demand for Bitcoin. The analytics firm Ascent recently conducted a survey and found out that the biggest barrier to owning cryptocurrency is a lack of understanding of how to get it. Results showed that 20% of Americans surveyed would like to buy Bitcoin but don’t know how to do so. The survey also indicated that about 50 million people were planning to buy cryptocurrency in the next two years.

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Cryptocurrency cash can eliminate the barrier identified in the survey because they are a familiar intermediary between people and their financial accounts. Coinsource’s Director of Marketing & Strategy, Derek Muhney, predicts that this market will grow to 100,000 units, and the industry market cap could reach $1.7 billion. The emergence of cryptocurrency ATMs makes purchasing Bitcoin a very simple task that can potentially attract new users to this industry and continue to grow the network’s activity.


The StormGain Analytics Group
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on August 06, 2021, 10:22:24 AM
Ethereum hard fork: Mining profits under threat

On 5 August, the Ethereum network’s London update will take place, which is expected to change the order in which transaction costs are determined. Before the update, the network used the auction mechanism through which miners would first add the transactions with the highest rewards to a block. This leads to the excessive growth of transaction fees if volume increases and, consequently, delays on the network. Furthermore, fee amounts don’t depend on the transaction’s amount, which makes small transfers impractical. Currently, the average commission value is around $6; in May, it hit a record $69. The hard fork is meant to reduce volatility and bring down costs.

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After the update, there will be a base fee for a transaction that will be adjusted by the network algorithm depending on the network load. The users can pay more than the base fee to make their transactions go faster and set a limit on the fee.

After a block is completed, a deflationary mechanism is launched. The base rate is burnt, and the miner gets income from signing the block and collecting tips on top of the base fee.

(https://steemitimages.com/640x0/https://cdn.steemitimages.com/DQmUjfew1KJSUababeZSjcA63pBwLrZvHo2sjwUYX6DaryF/22.jpg)

Various estimates believe this change could lead to a 20%-50% reduction in mining profitability, which has led to discontent among some miners. However, the developers have reminded them of a few things. First, rewards in the Bitcoin network get halved every four years. Second, Ethereum is preparing to transition to a proof-of-stake protocol and completely abandon mining. In addition to that, the deflationary mechanism stipulates that the coin’s price will grow, which means that the reduction in profit from processing transactions is compensated by the increased reward for signing blocks.

(https://steemitimages.com/640x0/https://cdn.steemitimages.com/DQmVtaw9jYxX6XfkvqaLKxYSq4UqfVmapjXJVGiozED7MRr/33.jpg)

In reality, it’s hard to assess the impact that the London hard fork will have on commissions as users will continue to pay for priority. Consequently, the loss from the burn of the base fee can be compensated by the growth in tips, while the profit from mining will remain at its current level or even increase since there is no set maximum amount for paying for priority.

The deflationary mechanism may also raise a lot of questions. After all, if the reward amount for signing a block outstrips the income from processing transactions, the reward will become inflationary, and mining pools will be incentivised to add empty blocks. Users will have to substantially increase their tips to have their transactions included in a block.

As such, there is a risk that the hard fork will not produce the expected improvements. The situation will radically improve only with the transition to Ethereum 2.0, which is promised for December 2021. In this hard fork, at least, the difficulty bomb is scheduled for this date. After that, miners will have to look for other coins to make a profit, and the fees will become reasonable.


The StormGain Analytics Group
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on August 10, 2021, 04:13:36 PM
Should you invest in Dogecoin’s copycat?

The popular meme cryptocurrency Dogecoin has increased in price 2,000-fold since it launched. It currently ranks 8th among cryptocurrencies by market capitalisation, coming in at $26 billion. This success was the reason for a wave of copycats, and Elon Musk — called “the Dogefather” by his admirers — played an important role in their surge in popularity.

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In 2013, Jackson Palmer and Billy Marcus launched Dogecoin as a joke and named it so that no one would take it seriously. But users loved it, and the coin quickly amassed a vibrant community. In 2014, they used Dogecoin to raise funds for charity events, after which the coin became really popular, and its price started a meteoric rise.

More than once, Elon Musk declared his love for the community on Twitter, and the cryptocurrency’s price jumped after every tweet.

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Dogecoin’s success sparked many copycats, with the website news.bitcoin.com finding 30 of them as of 4 August, though there are, in fact, more.

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Contrary to Dogecoin, a decentralised coin supported by miners’ operations, the copycats’ issuance is in the hands of individuals primarily chasing material wealth. For some reason, Elon Musk pumps them, too, every now and again, causing serious price movements for these low-liquidity assets. At the beginning of July, he wrote the inscrutable “BabyDoge, doo, doo, doo…”, which was followed by Baby Doge Coin rising threefold. Less than two weeks later, he made a DaddyDoge shout-out for his audience: in one day, that coin’s price rose ten times, and its daily volume increased from $300,000 to $15,000,000.

But not all individuals support the Dogecoin copycats. Searching for acknowledgement, Shiba Inu’s founders gifted half of their issued tokens to Vitalik Buterin, over $7 billion at the time. He sent $1 billion to an Indian anti-COVID fund and simply burnt the rest, asking the community not to bother him with such gifts. Following the news, the token’s price plummeted down.

However, this is typical of such copycats: once a high-visibility person mentions them, their price increase several-dozen-fold but doesn’t stay there. So, if you want to have a laugh along with the others and invest in a meme cryptocurrency, Dogecoin is still the best bet.


The StormGain Analytics Group
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on August 12, 2021, 11:30:43 AM
$1.5 Billion worth of ethereum to be burned by year’s end

On 5 August, the London hard fork took place and launched a deflationary mechanism for Ethereum. In it, the base payment for processing transactions will now be burned, and miners only get a ‘tip’ for mining a block. Around one-third of the newly mined ETH will be burned.

(https://steemitimages.com/p/8SzwQc8j2KJZWBXFXnbnQ1FtoZhRqrTWozhqoqWHpGmpmn4KAaUTGz9zmAKGG3fwyLSS14J8nHEmfbcU4GmDaY5PPKEjtdpMfR471zDCMSqKcbFzeZk?format=match&mode=fit&width=640)

In general, about 2.5 ETH get burned every minute, which, at the current pace and the price of the altcoin, will lead to $1.5 billion worth of the asset being taken out of circulation by the end of the year and 0.4% from its entire capitalisation. This is expected to act as a deflationary mechanism that will lead to an increase in price due to reduced supply. The network’s upgrade has already caused a 13% price spike, although many envision Ethereum reaching $4000 – $5000 by the end of the year.

(https://steemitimages.com/p/8SzwQc8j2KJZWBXFXnbnQ1FtoZhRqrTWozhqoqWHpGmpmoFMH27L1bYCJydEmKuRB3fWvcnxsPwENi5qwtsyNpgDxyW8itCBbhi2m7pVaT3Un32Ue54?format=match&mode=fit&width=640)

Despite the storm in the Chinese market, investments in the cryptocurrency market are at their peak. For example, in the first half of 2021, world venture capital investment funds constituted $288 billion, 95% higher than in the same period in 2020. The biggest interest is with the projects linked to NFTs and DeFi services, most of which have been built using Ethereum smart contracts. Because of that, the share among all cryptocurrencies has grown from 8% to 20% in six months.

(https://steemitimages.com/p/8SzwQc8j2KJZWBXFXnbnQ1FtoZhRqrTWozhqoqWHpGmpmoCj3dtC27Kc4Yzdq9hwyqZPSPQQguo1b98n29uZ9GFupAnA1FEsD58ZxFmBdiX4yAHYwXC?format=match&mode=fit&width=640)

But not everything is working according to plan. Despite the deflationary mechanism, the hard fork was meant to lower the fee size by abandoning the auction model. Despite the relatively small ‘tip’ size, the cumulative fee size has continued to grow.

(https://steemitimages.com/p/8SzwQc8j2KJZWBXFXnbnQ1FtoZhRqrTWozhqoqWHpGmpmnen12c4gTkJp63Nqeh9ReCs9mcjEE1cqQ4FKuEWmsaRFBXgCCXRQEFi9XJ8U6PsGMu7bUJ?format=match&mode=fit&width=640)

High fees hinder the attraction of new investments and diminish interest in Ethereum, but everything is expected to change with the coming of Proof-of-Stake, which is expected to launch in December 2021. The new algorithm will end mining, increase operation speed and decrease transaction costs. The nearing transition that many are anticipating, plus the deflationary mechanism, could be a catalyst for Ethereum’s price growth for the rest of the year.


The StormGain Analytical Group
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on August 13, 2021, 11:10:24 AM
Bitcoin or Gold: 571,000% or -5.5%?

Bitcoin has proven to be a more profitable investment than gold.

Gold loses to Bitcoin in the 1-year and 10-year ranges.

While some are debating whether investments in bitcoin and gold can be compared, the maths gives a clear answer that doesn't favour the precious metal. The 10-year yield of gold has gone into the red while investments in Bitcoin have reached a mind-boggling 571,000%.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSu6VTKFSfdWFwkm5a9RF7Md2cEdEiJE5L7mRy28KDtjpMLezpySzVZgHTRXeasXhCk2ni?format=match&mode=fit&width=640)

Back in 2017, a troy ounce of gold could get you 1 digital coin. Since then, the price of gold has fallen to be 25 times less than that of Bitcoin. Gold has always been viewed as a hedge against inflation, so it's even more surprising to see it fall to a four-year low four days before the United States releases its inflation report.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSgDSTh1Ge1aZQQY5RuhCQVmhmVzcMGupwPjCGjSfmsCEp8RJxkiqzsfUdH13qz2prXbbC?format=match&mode=fit&width=640)

Inflation is at its highest level in the past ten years. The Federal Reserve is starting to curb its bond-buying programme in Q4 and won't hike interest rates before 2023. Peter Schiff, a key proponent of gold, believes that traders are wrong to sell it. The Fed won't be able to cope with inflation in the next few years, and Bitcoin shouldn't be perceived as digital gold.

The comparison of gold to Bitcoin looks dubious: many investment tycoons, such as Jamie Dimon of J.P. Morgan and David Solomon of Goldman Sachs, criticise cryptocurrency while still creating services to invest in and trade it. In early 2021, JPM analysts predicted that Bitcoin would drive out gold as a store of value and assessed its price in the long term at $146,000.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSj6MjtX9SU5TmPCmVG7TQXZZZ8XVcJ1TkSksGjH8UNJdvotxtn2KdCWPsXeJXFPdeAAeA?format=match&mode=fit&width=640)

Is Bitcoin really becoming an alternative hedge against inflation instead of gold? Today, the US CPI is being released today: if demand is still above market expectations and Bitcoin keeps growing on this news, the trend will receive another confirmation.

Subscribe to stay up-to-date on great ideas!


The StormGain Analytic Team
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on August 17, 2021, 12:32:58 PM
Ethereum will soon abandon mining. Will GPUs get cheaper?

At the World Blockchain Conference in late July, Vitalik Buterin set the beginning of 2022 as the date of a possible transition to a proof-of-stake protocol, when validators will become responsible for processing transactions, and miners will be put out of a job. However, this does not stop either miners or hardware manufacturers.

On 5 August, the London hard fork took place, followed by the Altair update on 19 August. According to the roadmap, these are the last steps before the merger of the two forks, codenamed ‘The Merger’, happens. The difficulty bomb is scheduled for early December but will most likely be rescheduled for Q1 2022.

(https://steemitimages.com/p/8SzwQc8j2KJZWBXFXnbnQ1FtoZhRqrTWozhqoqWHpGmpmn4SwgUwFMpQPSBs8PBQZfXAsVwyWdF3fNNEEhYMNaewtcbnu7osTfjFAj4AxRKbJoyM3a6?format=match&mode=fit&width=640)

Over 90% of Ethereum mining is done with GPUs. However, in recent years, a breakthrough was made in producing ASICs for the ETHash algorithm. For instance, in early 2021, NVIDIA presented its first chip for ETH mining, which can hash 26 Mh/s at 125 W. The availability of efficient machines attracted institutional investors, for whom the payback period is less in the Ethereum network than in the Bitcoin network. According to the CEO of Luxor mining centre, Ethan Vera, the ROI period on Ethereum mining hardware is four months, but over a year for Bitcoin.

This circumstance has caused mining companies to increase their hash power despite the PoS risks. In October 2020, Hive Blockchain became the biggest public Ethereum miner at 3.4 Gh/s; it plans to ramp up its hashing power to 5.5 Gh/s by the end of 2021. Hut 8 is close behind, having bought $30 million worth of hardware from NVIDIA, which will give it 1.6 Gh/s more hash power this month.

Miners expect that The Merger implementation period will shift: this regularly happens in Vitalik Buterin’s network. So, they don’t want to miss out on the profit they could make on the second-largest cryptocurrency.

(https://steemitimages.com/p/8SzwQc8j2KJZWBXFXnbnQ1FtoZhRqrTWozhqoqWHpGmpmnPSD3yyCC51DQ1ByqL9HNXn9Mc6EJSsyEaVhGavMmuXfzxRr22KcK4S2KihgKtZGQCe1X4?format=match&mode=fit&width=640)

ASIC manufacturers are backing miners in their arms race. Bitmain, Innosilicon and iPollo have already announced the availability of Ethereum ASICs by the end of this year. iPollo has already received pre-orders worth $200 million.

The most frequently asked question among some in the crypto community is ‘when will GPUs get cheaper?’ The risk of proof-of-work being abandoned does not dampen companies’ ardour in their pursuit of hashing power. Gamers’ last hope hangs on the development of ASICs that could push GPUs out of mining. Mining difficulty will grow as long as institutional demand is met, and the GPU mining ROI period will soon surpass one year. If ETH doesn’t reach its all-time high again by that time, miners’ demand for them will substantially decrease.


The StormGain Analytical Group
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on August 18, 2021, 03:24:59 PM
StormGain debuts new crypto options

StormGain is happy to announce the debut of an exciting new trading instrument on the platform: crypto options! Now, instead of simply being able to trade cryptocurrencies, StormGain users can place Call and Put option orders based on a cryptocurrency’s potential future price. This means you can trade on the price changes of a digital asset without having to actually own or hold the asset itself. Crypto options are perfect if your main interest in cryptocurrency is to profit from price volatility rather than collect digital tokens.

How do crypto options work?

Options, including crypto options, are derivative instruments that trade on the price fluctuations of the underlying asset. They provide traders with the option, but not the requirement, to buy or sell a specified amount of the asset at the price it was trading at when the contract was initiated. Because you’re not required to buy or sell, this opens up a more flexible trading strategy.

There are two types of crypto options you can buy and trade. One of these is Call options, which give you the right to buy the underlying asset at a predetermined price at any time before a specified expiry date. Similarly, Put options give you the right to sell the underlying asset at a predetermined price before the date.

The price of crypto options is called a strike price, which is influenced by the actual price of the underlying asset, the expiry date, the asset’s volatility and demand for the option.

How can crypto options benefit me?

Crypto options are cheaper than buying the coins outright and allow you to benefit from higher volatility, giving you the potential for much higher returns on your investment. For example, even a relatively small movement on the price of Bitcoin will affect the price of the option by much higher multiples. At the same time, should the future price of BTC not go your way, it’s not possible to lose more than your initial investment in buying the strike price.

Options are great for various trading strategies, such as using long calls (for a bullish approach) or puts (when you predict a bear market) to maximise your profits. More cautious investors can even take both kinds of options on the same underlying asset (known as straddling) or hedge by taking a Put option on their holdings, which compensates for an asset’s potential depreciation.

Crypto options open a wealth of more sophisticated trading strategies that let you use your knowledge of the crypto market to make even more profit. For a more detailed breakdown of how to use crypto options, we recommend that you check out this series of educational articles with examples of Call and Put options and hedging strategies.

Where can I find crypto options?

To trade options on any asset, simply open the StormGain app or web platform and open your cryptocurrency of choice. You’ll see an ‘Options’ tab that shows the strike price and expiry date for each one.

With the introduction of crypto options, StormGain offers yet another way to get cryptocurrency to make money for you. That’s in addition to the best rates on a wide variety of cryptocurrency purchases and exchanges, crypto wallets with up to 12% APR interest, indices and tokenised assets. Sign in to StormGain to see what crypto options can do for your trading profit. Not a member? Then register with StormGain in just five seconds to start trading today!
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on August 23, 2021, 09:43:49 AM
Hermitage and Rammstein at Odds over NFT

Non-fungible tokens (NFTs) are a new type of crypto asset that has simplified buying and selling, exchanging and working with digital artworks' copyrights. This market continues to grow exponentially despite all the difficulties cryptocurrencies have been facing.

In March, we saw a spike in the interest in NFTs caused by the success of Mike Winkleman's picture, Everydays: The First 5,000 Days. It turned out to be the most expensive JPEG file in history, selling for $69 million at a Christie's auction. There was also a rally on the cryptocurrency market, and Ethereum, the platform for most NFTs, rose from $1,400 to $4,400 in May.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSgv4ua6JEaJ4wVDLEBJTcJUJ7z6Adu1owhZgrnuywMmVUxTNngaC4DbYhCNEEwB1if598?format=match&mode=fit&width=640)

Increasing interest in cryptocurrencies and non-fungible tokens has caused a record growth of network fees on the Ethereum network. Sceptics were prophesying a downfall of the NFT market, but that didn't happen. Now, fundraising is at March levels again, and the daily NFT turnover at OpenSea has grown eight-fold.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSuhw8orgQ2PEugDamz1EDPV6FPTMfnHb5hVFfDQk4qzKv9vdZWLnNqeUCbsjbLJnr1PBU?format=match&mode=fit&width=640)

The daily volume has reached 60,000 NFTs, and the trading volume in the last month grew by 933% to hit $1.2 billion. And that is just the data for a single platform. The entire market is now projected to grow from $1 billion to $15 billion next year. The growing interest in NFTs is leading some to monetise their activities, from football clubs to giants like NASA.

Occasionally, unpleasant copyright-related things happen. For example, DC Comics asked artists in March not to use their characters to make NFTs as the company was planning to enter the new market. Furthermore, last week, a scandal broke out between the group Rammstein's lead vocalist and the Hermitage Museum. Till Lindemann recorded a video for the song Lubimiy Gorod (Beloved City) for the museum. However, according to his agreement with the Hermitage, he could only use the recorded materials in the video. The singer nevertheless launched an NFT collection based on the visuals recorded.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSfRS6y8cYQNLGZqQ8MFUY7qb6WW2Pmqr46r69rJe3pRcdNY3FeDF7UxuoKYtfhpAY7s5x?format=match&mode=fit&width=640)

Five tokens have been put up for auction, advertised as 'Hermitage Edition'. The most expensive of them has been priced at $100,000, and there are 10 copies. Buyers will also have the opportunity to dine with Lindemann in Moscow.

The Russian state-owned Hermitage has sent a letter of claim to both the Rammstein frontman and NFT Frame Art, the platform that listed the tokens. However, the museum has not disclosed its proposal for resolving the conflict. Currently, nothing is known about any responses.

Like DC Comics, Hermitage also has plans to monetise art objects. In autumn 2021, an exhibition will take place, where the museum will put its own NFTs up for sale. The Hermitage's director, Mikhail Piotrovsky, has said that "NFT is a route that creates democracy, makes luxury more accessible, but at the same time exceptional and exclusive".

Despite the lack of a clear legal framework, the number of NFT proponents is growing. This will make cryptocurrencies more attractive and speed up their integration in the near future.


The StormGain Analytical Group
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on August 24, 2021, 08:23:34 AM
NVIDIA: Mining processors vs video cards

Increased GPU prices have caused a backlash between miners and gamers. AMD has come clean, saying that this conflict is none of its business. However, NVIDIA has tried to split up its GPU product line and produce an ASIC equivalent, with little success.

The third-generation graphic cards released in autumn last year are highly efficient at ethereum mining. Meanwhile, the coin rose from $350 in October to $2,000 in five months, and graphic adapters are becoming hard to find.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSjiTifqBnSDNZwNCKkGUrwjnBJC1yibm9ePwvqkSVF1CUocgiykazKJq8Pt7ziALXtQ8W?format=match&mode=fit&width=640)

The first decision NVIDIA made was to limit the output of some graphic cards, but miners managed to bypass this obstacle. The second decision was the production of specialised chips for mining. In February, the company announced the launch of its new CMP (crypto-mining processor) series. The 30HX and 40HX models became available for order in Q1 2021.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSrnGSF7WwiTZE5McxfG64Z1CJv5bu7vYAtXVWc2rXTN1xaGb7bKrx1tvyPw5YLwGeZqNv?format=match&mode=fit&width=640)

However, the demand for these was not as high as NVIDIA expected. The company planned to earn $400M on CMP sales by the end of Q2, but actual income was $266M. Commenting on the figures, Chief Financial Officer Colette Kress said that the company did not expect substantial revenue contribution from CMP sales in the future.

There are several reasons for this product line's failure. First, even top-end machines are lagging behind the top-of-the-line graphic cards in terms of hashing power. Second, the cost and energy efficiency remain pretty much similar. Therefore, few people are willing to buy highly specialised machines with no video output. Let's take compare the effectiveness and ROI of CMP 30HX vs RTX 3060.

The mining chip produces 26 Mh/s, consuming 125 W. The graphic card can be accelerated to up to 48 Mh/s while consuming 170 W. Energy-wise, it's more profitable, but it costs more: $1,000 vs $750. However, because of the permanent increase in mining difficulty, hashing power is what makes the ultimate difference, and even profitability calculators show that RTX 3060 is almost twice as good as CMP 30.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSguar5pfU2gNDHNiHxjB5Fnyg5c1una2dRAAF6xevaNxWNwoPh9CfLnkgD5tAnD9ibY3x?format=match&mode=fit&width=640)

It takes 300 days to reach full ROI on the graphic card, compared to 414 days for the CMP. Because of increased mining difficulty, you will have to unplug 30HX at some point, while RTX 3060 will keep on producing revenue. Another thing is that even if the graphic card is discarded for mining, it can still be used for its intended purpose, but there is no second life for the CMP.

The NVIDIA CPM product line is the same old graphic card, only slightly redesigned and cheaper. However, consumers did not appreciate this approach: as ethereum's price increased, so, too, is the demand for graphic cards.


The StormGain Analytical Group
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on August 27, 2021, 10:55:07 AM
Metrics: Bitcoin keeps growing despite lacklustre user activity

Bitcoin’s price has risen by 40% to around $50,000 without high speculative activity amidst a background of plunging trading volumes and a low number of transactions. Is this indicative of a looming correction?

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYShdrBihh4UGddmWXjVG2uZ967XtwdDAa8tfctra4iAdFyha1JRp81FNz26x4DtQv9zJUW?format=match&mode=fit&width=640)

Bitcoin transactions are around five-year lows, which was last observed together with an 85% drop in prices from the highs of 2017.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSsgEARxPky4KmNnks9wo5yHhqmMEJQuS5EqN8URMHKSAUbbV4t2t5BcvcdcQa3xFR6Luk?format=match&mode=fit&width=640)

In addition to the lower number of transactions, trading volume has also dropped, which Arcana Research views as a bearish signal. The recent price growth has not correlated with vast interest.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSdvf3rcNTga5AkzQWfTthn34PVfiXoEAzX24ycJx2UcQG58iE7zDAKm73QZkQfEBprAza?format=match&mode=fit&width=640)

However, several objective reasons can explain this. Firstly, the number of transactions has fallen because of pressure from Chinese regulators. Some exchanges are changing their registration, others are refusing to accept Chinese citizens’ funds, and miners have simply been prohibited from working in some provinces. Secondly, the world’s largest crypto exchange, Binance, has become a subject of public discontent in many countries. Because of regulatory pressure, the exchange has lowered its leverage from 1:100 to 1:20, leading to a slump in trading volume.

Meanwhile, the Fear and Greed indicator is showing that market optimism has gone last. SOPR (Spent Output Profit Ratio) indicates the same thing: most traders are once again making profit from selling their coins

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYStDUnuezJvm5cygSyn6btATGhRuq6CuZdWzWnjL9jL6hKD8RF5mG9LHmoRDv8m529J7Wv?format=match&mode=fit&width=640)

While traders took a break and are not showing much activity, institutional investors continue their hunt for bitcoin. For example, MicroStrategy bought $177 million worth of BTC at an average price of $45,000 per coin and currently owns 108,992 BTC. Citigroup has followed in Goldman Sachs’ footsteps, submitting an application to regulatory bodies for access to Bitcoin futures on the Chicago Mercantile Exchange.

Currently, activity on the network does not indicate an impending correction. The drop in volume is related to regulatory pressure and reduced trading leverage. Meanwhile, holders and institutional investors are continuing to accumulate.


The StormGain Analytical Group
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on August 30, 2021, 11:58:26 AM
NFTs are making a comeback as ETH booms

Non-fungible tokens, or NFTs, were the talk of the crypto community, the wider finance community and the art world earlier this year thanks to striking artworks, celebrity participation and eyebrow-raising sales prices. These elicited frantic headlines across the mainstream press that made the general public interested in what had previously been an obscure phenomenon: digital items that can be verified as unique on the blockchain.

The media buzz was driven by the $69-million sale of the digital artwork Everydays: The First 5000 Days by Beeple. It was the spearhead of NFT mania, with big-ticket digital tokens selling for millions of dollars. Meanwhile, an NFT representing the first-ever tweet by Jack Dorsey sold for a comparatively humble $3 million compared to Beeple’s work, whereas blockchain collectables such as rare CryptoPunks sold for over $7 million.

The NFT feeding frenzy subsided during the summer, leading some to say that investors’ interest in NFTs was a one-time event. But the market is proving them wrong. In fact, NFT trading has just hit new heights.

CoinDesk recently reported that the number of sales on OpenSea, the largest NFT marketplace, has surpassed the NFT craze seen in the spring multiple-fold. Daily sales hit over 60,000 tokens in the past week, almost eight times more than March’s all-time high (source: Coin Metrics). Blockchain industry data tracking firm DappRadar also reported that trading volume on OpenSea was $1.22 billion over the last 30 days, a 933% increase over the previous 30-day period.

So, what exactly is being traded? So far, the current surge indicates the continued success of NFT collectables such as CryptoPunk (pixel art headshots with various fashion accessories), Bored Ape Yacht Club (similar to CryptoPunks, but the characters are apes) and Pudgy Penguins (take a guess!). Like limited-edition trading cards, these digital tokens can no longer be bought directly from the producers but are traded to the highest bidder on platforms such as OpenSea.

But even if trade in crypto-collectables is thriving, they don’t garner the same public interest as Beeple or Jack Dorsey’s NFTs. Global Google search activity for NFTs still ranks lower than in March, the height of NFT trending in the mainstream media.

What could this mean for crypto traders?

Even if they don’t touch NFTs themselves, crypto traders should be aware of how the NFT market affects the cryptocurrency economy as a whole. Most NFTs reside on the Ethereum blockchain and are priced in Ether (ETH), the second cryptocurrency by market cap. A boom in the NFT market could drive up interest in ETH and, consequently, the value of the cryptocurrency. This is what appeared to happen in March when OpenSea sales increased alongside the price of ETH. But NFTs are only part of the Ethereum ecosystem. In May, ETH’s price soared even as NFT sales slumped to dismal levels. So, a trader should consider all the aspects surrounding Ethereum, not just NFTs.

At the time of writing, ETH is up by over 65% over the last 30 days, outpacing Bitcoin in gains. This may be explained by the recent London hard fork, which improved efficiency and transaction fees on the Ethereum network when it went live on 5 August. With ETH’s increased attractiveness to investors resulting from the fork combined with high NFT trading volume, we could see a pattern of increased confidence in and demand for Ether.

Trade ETH, BTC and more at the best rates with StormGain

Whether you’re looking to trade ETH on the back of NFT success or investing in any cryptocurrency to increase your wealth, it’s important to have the best tools for the job at your fingertips. StormGain provides exactly that: an all-in-one crypto trading platform with trading signals, analytics and charts built into an easy-to-use app. Trade over 65 different digital assets, including Bitcoin, 50+ altcoins, crypto indices and even tokenised stocks in Apple, Tesla and other tech giants. All this with the best features in the industry, including free Bitcoin rewards, loyalty bonuses for trading, up to 12% interest on your crypto holdings and a generous zero-commission profit-sharing model.

Not a StormGain user? Register now in just a few seconds and try the risk-free demo account to see how much you could make trading cryptocurrency with the best perks in the business!
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on August 31, 2021, 12:45:58 PM
Solana Enters Top 8

Ethereum’s unsolved problems have led to the emergence of interesting projects that are moving by leaps and bounds to resolve their predecessor’s mistakes. One such project, Solana, has seen its price increase by over 200% in August alone, putting it among the Top 8 cryptocurrencies by market capitalisation.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSryk31GsryVjqFiLrL5FRoXSrNNiLbk8hThW7U2cYexrmiFaZXZPw1ogHsq4yL14RC2tW?format=match&mode=fit&width=640)

Smart contracts are becoming more popular because of the boom in the DeFi (decentralised finance) and NFT (non-fungible token) markets. Most projects use the Ethereum blockchain, which has been unable to cope with the workload. Network fees have risen again despite the London hard fork on 5 August to remove the network’s auction mechanism for transaction fees. We expressed our concerns at the start of the month, and, unfortunately, they have come true: costs have risen to highs last seen in February.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSivdESAsRub9H3tbnMH8izBDv2RLYyWJ2pNVeMBZdZ3e24m3MEjroaGTG3Z53PGbeaFcA?format=match&mode=fit&width=640)

High expenses and low transaction throughput are forcing projects to search for alternative blockchains. Solana is one of the most promising; with an average transaction fee of $0.00025, its top transaction throughput can reach 50,000 transactions per second, which is thousands of times faster than Ethereum and Bitcoin’s blockchains. Several unique solutions make this possible, such as the blockchain’s use of a proof-of-history element that puts time markers on every block. As a result, a new block is created every 400 ms, while it takes 10–15 seconds with Ethereum. Meanwhile, it retains all the positive features of proof-of-stake, including passive income through staking.

Two weeks ago, Solana debuted on the NFT market with the launch of the Degenerate Ape Academy collection. In just 10 minutes, 10,000 monkeys were sold, and the coin’s price jumped 40%. Institutional investors have since expressed interest in the cryptocurrency’s success, leading to Osprey registering Solana Trust with the SEC.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYShV76XxizgyQzsFScnK1jixtfNXdD9FX27EdZsLVAkzwMiGZQfPpuBFE8aEDnLXLWNYmU?format=match&mode=fit&width=640)

Bill Noble, Token Metrics’ top analyst, believes that Solana can only be stopped if the cryptocurrency market crashes. Otherwise, the coin will soon reach $145.


The StormGain Analytical Group
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on September 01, 2021, 11:23:52 AM
First came electricity, then came blockchain: how to invest in the tech revolution

Nowadays, everybody wants in on cryptocurrency. Thanks to the dramatic price movements of digital coins and the availability of crypto trading apps, people can make huge profit trading crypto. But what is the value of all this digital money beyond speculation?

This is a question that traders should consider, especially when it comes to understanding the differences between cryptocurrencies and how their integration into computer systems and financial systems could affect their value.

According to economics professor Jason Potts, co-director of the Blockchain Innovation Hub at RMIT University, blockchain (the distributed ledger system that all cryptocurrencies are based on) represents a ‘technological revolution’ on the level of the joint-stock company, the internet and even electricity.

In a recent interview with Cointelegraph, Potts highlighted how blockchain technology is even more revolutionary than the internet, which made it possible for communications and coordination for business and social affairs to move at lightning speed and practically zero costs at a previously inconceivable scale. But the actual work of making contracts and managing money is still done by real humans in different companies. Blockchain is what will really complete the digital revolution by fully digitising the economy.

Cryptocurrency has been around for over a decade now, but a revolution takes time, and we’re still in the early days. Electricity, for example, was developed in the 1860s. But it took about 50 years to become fully integrated into the global economy in the 1920s and ‘30s with the advent of the electric motor.

What makes blockchain so important is that it is an institutional, rather than industrial, technology. While blockchain doesn’t manufacture anything, it does provide a new way for people to organise and coordinate. For example, consider charter companies, which were first formed by European kingdoms for empire-building in the 16th century. Nowadays, we take for granted that most products, services, and jobs are provided by companies. So how will blockchain change the way we do business?

The real Blockchain Revolution: 3 key steps

Trust. When Bitcoin was invented as a decentralised alternative to fiat currency, there needed to be a way to establish trust and guarantees, i.e., who owns this money? The fact that every transaction with cryptocurrency is automatically recorded on a publicly accessible blockchain engenders trust in the system without the backing of a bank or government. Currently, a lack of trust costs a lot of time and money in the economy.

Speed and efficiency. With fiat currency, ownership, debt, payments, etc., are managed by a colossal, complex, and corruptible network of global human bureaucracy across banks, companies, and governments that draw up, verify and execute contracts and move money around. But blockchain eliminates the need for all these middlemen. Imagine that all the costs in terms of time and administration fees that are sunk into checking ownership, verifying identities and transactions, looking for and correcting human mistakes, etc., were all done away with. That is the new level that a blockchain-powered economic infrastructure could operate at.

Independence. Adopting blockchain technology could empower small businesses and individuals to operate and make contracts with each other without costly intermediaries. The power of large, hierarchical corporations, including big tech giants such as Google and Facebook, could be challenged by smaller companies, leading to an overall decentralisation of the economy.

How does crypto trading fit in?

For traders looking to capitalise on the upcoming shift in infrastructure technology that blockchain promises, it’s crucial to identify the cryptocurrencies that offer the best use cases. This also requires some long-term planning, as we’re looking at around a 10-year period for widespread blockchain adoption.

Bitcoin may have innovated blockchain technology but is limited in its use case for business. Instead, we need to look at Bitcoin’s successors. Taking a look at the 75+ instruments available on StormGain, we can find several interesting investments.

Ether (ETH) tokens are used to validate operations on the Ethereum blockchain, a network that enables anyone to build applications for decentralised finance (DeFi) operations. This includes self-executing smart contracts for exchanges, loans, payments and more. The Ethereum system itself is being upgraded to Ethereum 2.0 with efficiency improvements.

Mainstream financial institutions, including Visa, Mastercard, JP Morgan, and Microsoft, are already working with Ethereum. Because of its longevity, market cap, DeFi applications, and importance to the NFT industry, Ethereum will always be an attractive asset for anyone looking to invest in future technology.

AVAX, the native token of the Avalanche DeFi ecosystem, rallied from $13.41 to a high of $55.42 earlier this week as the total value locked in Avalanche soared to over $1.8 billion. StormGain also offers Yearn Finance (YFI), which fuelled the 2020 DeFi boom and remains one of the most valuable cryptocurrencies at $36,313.50 per coin at the time of writing. Other strong DeFi instruments available on StormGain include UMA, COMP, SNX, DOT, VET, UNI and ZRX, among others.

The best platform to profit from the blockchain future

StormGain offers various perks for investing in blockchain innovation. For example, integrated crypto wallets that earn you up to 12% APR interest on your crypto holdings — an excellent proposition if you’re holding with an eye to the blockchain transition over the next few years.

StormGain also boasts easy-to-read trading signals and analytical tools on its mobile app and web platform that help you evaluate which of the competing DeFi currencies to back.

If you’re looking to invest in the next big economic revolution, register with StormGain in just a few seconds and stake your claim in the blockchain future!
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on September 03, 2021, 02:38:36 PM
Hidden Threat: Tether is reluctant to disclose its reserves structure

Tether is the leading bridge currency between fiat money and crypto assets. It boasts a market capitalisation of $66 billion and a daily turnover of $88 billion. The stable operation of crypto exchanges depends on the financial state of affairs at the namesake company because an overwhelming majority of exchanges use Tether as their base currency. According to the company’s initial claims, every USDT is backed by one US dollar. However, audits have proven this claim to be untrue. Now, the company is trying to hide the what things are actually like from the public.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSiw94DFShRSsLrLxnkVGpLW9o6PjuesL92BKkTLUgMQRjkvZ9dHKR66HHUFa7xoZQkkPx?format=match&mode=fit&width=640)

This year, the New York Attorney General’s Office (NYAG) finished its investigation into Tether. As result of a pre-trial settlement, Tether has agreed to pay out $18.5 million and report on its reserves to the authorities regularly (read more about this in our article). After that, it was found that half of the USDT reserves were composed of undisclosed commercial papers, and only less than 4% were held in fiat funds.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSg7kKfxxv8V9m79m5fzAc6FN3W1WSQ9tVMdRK6s4TG8HGFqLFS6xvKNrU5QNdAbMrd6sp?format=match&mode=fit&width=640)

Tether’s fiat reserves exceed its liabilities, but their structure raises a lot of questions. For example, in the event of a crisis, the inability to convert USDT to USD at a 1:1 rate will cause a rapid fall in the stablecoin’s valuation and damage confidence in crypto exchanges. As a result, cryptocurrencies will go through a bigger correction than the one that occurred in May 2021.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSr4VZceSnRLpbUfsWJ2jfA5yWeRsh8goEunuEYMhyL1YekFRG4aqCLQst2264DPZjUJtW?format=match&mode=fit&width=640)

It’s not surprising that the community keeps a close watch on the developments in the Tether case, but the company doesn’t feel comfortable under such scrutiny. On 31 August, representatives from the organisation filed a request to the New York Supreme Court to the NYAG from releasing access to information about the company.

'...we vigorously oppose the notion that proprietary information of our company, or any company in our community, should be made public simply to satisfy Internet trolls or other detractors.'

Now, the disclosure of the details and commercial papers that constitute half of USDT’s backing will depend on the Supreme Court’s decision. If the assets turn out to be of low quality, it will damage confidence in the token and cause a backlash on the cryptocurrency market.


The StormGain Analytical Group
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on September 07, 2021, 12:06:43 PM
Ethereum putting pressure on Bitcoin

Ethereum is growing more confidently than Bitcoin, and there are objective reasons for this that could send the altcoin to the highest market capitalisation in the long run. We told you about them at the start of this year, and now it’s time to update the data.

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This month, the altcoin has grown twice as much as Bitcoin has, experiencing 50% growth. The main driver has been the London hard fork that took place on 5 August. It introduced a deflationary mechanism resulting in the base fee now simply being burnt, while miners claim tips on top of it. In 29 days, 174,000 ETH, or $565 million, have been burnt.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSe3dsfkvsnWqvqv59aDdmtMfmvGHUCm4cR3hzW43WeTJvLZnNudnr3MjWSRvip9yw9AmC?format=match&mode=fit&width=640)

The gap at the 12-month distance has been even more impressive, showing Ethereum go up by 820% versus 350% for Bitcoin. The altcoin owes its popularity to its smart contracts, whose functional capabilities have caused a boom in the DeFi (decentralised finance) and NFT (non-fungible token) markets.

DeFi allows participants to exchange tokens, receive passive income and lend and borrow without intermediaries. The algorithms written into the smart contracts are in charge of executing the operations. The market is so promising that Bank of America and ING Bank are already declaring DeFi a threat to the traditional banking sector, which has grown from $8 billion to $97 billion in 18 months.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSmFWhPxdxeyvLmpEPMaY5Zu2iZAc7a69iMiwPReuYpEgXs1x2sc5ozycax8nEWb58cP9Q?format=match&mode=fit&width=640)

NFTs are unique tokens that are normally used as copyright tags. They are easy to gift, sell or buy. This year, auctions with digital pictures have already been held at such venues as Christie’s and Sotheby’s. The most expensive NFT was purchased for more than $69 million from Mike Winklemann.

The NFT power is in its accessibility and dilution of geographical and legal boundaries. For example, artists from Zimbabwe have been making a living on this technology. Huliodraws sold his latest work, Meme Reunion, for 0.55 ETH. And teenagers can even make pocket money without having a bank account. By way of example, a 12-year-old boy from London received $400,000 from the sale of Weird Whales.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSkV8ikSrF3bCF6ro3mqQiWPTc4kY2QJNSxv3LZ87B8v9aMgJxhjahHdNDKKTD5VZpRWMU?format=match&mode=fit&width=640)

The practicality of smart contracts has led to the Ethereum network seeing more transactions than Bitcoin since 2017, with the discrepancy growing ever since.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSgpu2hCbqRieAUQrVrNr3mYSAG7CwtoMAKufg4yXczhC3Hee4UDNZb7B3fxbZvPmup4XQ?format=match&mode=fit&width=640)

The altcoin can take the leading position in capitalisation after the transition to the proof-of-stake protocol scheduled for 2022. Now, the scalability problems have led to high network workloads, with the average fee once again exceeding $30. Higher fees slow down the adoption of Ethereum and limit its usage.

What do you think about Ethereum’s chances of getting ahead of Bitcoin? Let us know in the comments!


The StormGain Analytical Group
(a platform for trading, exchanging and safeguarding cryptocurrencies)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on September 09, 2021, 03:26:23 PM
El Salvador Day and Bitcoin’s Crash

For El Salvador and Bitcoin, 7 September became a day to remember: for the first time in history, a cryptocurrency has been adopted as legal tender. Meanwhile, Bitcoin went through the biggest correction in a single day since the Chinese crypto recession because El Salvador was neither technologically nor mentally ready to accept cryptocurrency. El Salvador’s president Nayib Bukele tried to soften the negativity from the correction by stating that the country was “buying the dip”.

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Salvadorians are migrating to other countries in search of work but continue to send money transfers to their relatives. In 2019, they amounted to 20% of the country’s GDP, or $6 billion. The transfers in USD remained critically unprofitable, enriching the banking structures in the United States. For Nayib Bukele, this became one of the main reasons for integrating Bitcoin. Now, the Bitcoin network’s fee constitutes $3 while it costs $18 to send money from Los Angeles via Western Union, $7 via Ria, and $5 via Xoom and Boss.

Per the country’s new law, retailers will have to accept USD as well as BTC as payment. The government will be responsible for paying the conversion costs, for which a $150 million reserve fund has been created. Retailers will be able to choose the legal tender they receive. Apparently, with cryptocurrency’s growing adoption, the government’s expenses will also grow. Meanwhile, high volatility will amplify the problem.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSrn5RtMbXjyUuKzsy3nZyf8kUVuEy37ow9SnsKi9Gkmnkm37EaAzKdvaRFN9jTJfUYHGz?format=match&mode=fit&width=640)

On the day Bitcoin was adopted as legal tender, its volatility exceeded 20%. For retailers, this could signify a loss of profit of a similar amount if they had set the price of goods in BTC. This is why most retailers have preferred to receive fiat funds.

For many Salvadorans, crypto technologies still largely remain unknown territory, and pensioners are afraid that these innovations are directed at taking their USD pensions from them. That’s why there were several protests in El Salvador on the day, with several thousand people rallying in front of the Supreme Court.

Nayib Bukele asked the IMF to help integrate Bitcoin into the financial system, but his request was turned down. Even worse, $1 billion in financial aid that the IMF was considering for El Salvador has been held off for an unknown period. In July, Moody’s credit rating agency lowered El Salvador’s investment rating because of mounting financial risks, which has badly affected demand for its government bonds.

These circumstances are intensifying fears that the government will collapse, the country will fall into crisis and the Bitcoin experiment will flop. All these sentiments caused the cryptocurrency to record the biggest single-day drop since May.


The StormGain Analytical Group
(a platform for trading, exchanging and safeguarding cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on September 10, 2021, 03:39:08 PM
ETH and altcoins pull ahead as Bitcoin stagnates

Ether is enjoying a hot streak, breaking above $3,900. That’s just shy of the cryptocurrency’s all-time high in May this year. This comes as the mainnet of Ethereum’s Layer 2 scaling solution, Arbitrum One, opens to the public. Part of the much-anticipated upgrade to Ethereum 2.0, the new scaling model introduced by the London hard fork, aims to lower transaction fees to users all across the network. Other changes brought about by the new EIP-1559 update (Ethereum Improvement Proposal) include reduced ETH token supply. This contributes to driving up the value of each coin. In addition to the upgrades, Ether has been bolstered both by the growth of decentralised finance (DeFi) and NFTs, two crypto-industry sectors that are primarily developed on the Ethereum blockchain.

Meanwhile, Bitcoin continues to trade sideways, attempting a rally and falling just shy of the $50K threshold. The original cryptocurrency has seen a decline in volatility over August, but in the next month, when traders return from their summer holidays, an uptick in activity could soon set the price in motion. In the meantime, ETH and certain altcoins are enjoying their time in the sun.

Is a new all-time high on the horizon?

In May, Ether recorded its last all-time high of $4,372. Now it’s edging towards the $4,000 resistance level once more. Will it breach it and set a new record? Some analysts are enthusiastic about Ethereum, noting how the recent system updates make the ETH cryptocurrency more attractive than ever.

Nick Agar, the founder of cryptocurrency firm AXIA Coin, noted how increased scarcity has increased demand from investors. Agar was quoted in Marketwatch as saying that, “with Ethereum’s recent burn rates resulting in over $561 million burnt away from circulation, a basis has been formed for the increasing accumulation of the token by investors”.

The ‘burn rate’ refers to how the EIP-1559 upgrade changes the Ethereum network’s transaction mechanism. A base fee is charged for every block found on the network, with the remainder being ‘burned’ (as in, deleted), reducing the overall supply of Ether in circulation. At the time of writing, the Ethereum network has burned over $500 million of ETH, a number that continues to climb along with the price increase.

Crypto analytics firm IntoTheBlock noted that several metrics indicate a bullish tendency for ETH. In the company’s Telegram channel, analysts highlighted that the volume of large Ether transactions reached $16.2 billion, the highest since 22 June and that the number of addresses with ETH holdings for over one year is also approaching an all-time high.

Katie Stockton, founder and managing partner of Fairlead Strategies, predicted a promising future for ETH in her Monday notes. She stated that “Long-term momentum is strengthening and trend following measures like the 200-day (~40-week) MA and weekly cloud are rising”.

ETH isn’t the only altcoin enjoying a surge as Bitcoin’s market dominance slumps. Cardano recently doubled in value to become the third-largest coin by market capitalisation, just behind Ethereum and Bitcoin. Avalanche grew even more, tripling over August, while Dogecoin is also enjoying surges in value. It’s the perfect time to think beyond Bitcoin and diversify one’s crypto portfolio.

Trade ETH and other altcoins on StormGain

If you’re ready to profit from Ethereum’s upward surge, StormGain is still the best one-stop crypto platform on the market to buy, sell and hold a great choice of digital assets, including ETH, BTC, Cardano, Avalanche and many more! Thanks to StormGain’s profit-sharing model, users only pay fees on profitable trades and gain some of the best bonuses in the industry through the StormGain loyalty programme. That includes up to 12% APR on crypto holdings, bonus funds and even free BTC via the StormGain cloud miner. Not a StormGain user yet? Register your account in just a few seconds to see the full range of features and try out the user-friendly interface with a demo account!
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on September 13, 2021, 03:52:47 PM
‘Ethereum Killer’ Solana has risen by 53% in 1 week

Most cryptocurrencies’ prices went into the red last week, but Solana continues to rise beyond forecasts. At the end of August, we shared with you the opinion of Bill Noble from Token Metrics, who stated that the coin would reach $145. It took five days for the coin to make it there. Now, the forecast from Mercuryo CEO, who expects SOL to go for $500 by the end of the year, can be used as the next target.

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Solana’s surge started with the debut of non-fungible tokens (NFTs) when a collection of 10,000 monkeys was sold in eight minutes. Despite a number of mistakes, the network proved its ability to process a large number of transactions in a short period of time. When the project is fully deployed, its throughput will reach 60,000 transactions per second. This is faster than Visa, Ripple, Ethereum and Bitcoin combined.

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Solana operates on a proof-of-stake protocol with a unique proof-of-history layer. This allows it to process transactions as they come without waiting for the block to be finalised, giving Solana an edge in speed and transaction costs, which cost less than one cent on average.

Ethereum is still dominant in the NFT and DeFi markets; it has 7,000 nodes and 90,000 validators versus Solana’s 600 nodes and 1,000 validators. However, Ethereum’s high network fees and constantly shifting PoS transition date are forcing start-ups to search for faster blockchains.

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Thus, DeFi Land has collected $4 million worth of investment to launch a finance game on Solana. DeFi Land teaches users how to interact with the decentralised finance market and earn money on it while playing. This should attract small players, though 60% of DeFi transactions are currently backed by institutional capital.

In the NFT market, Solana is also starting to push Ethereum. According to Nathan Rossa, Solana is better suited for NFTs because it’s cheaper and simpler. The CEO of FTX also claimed on 6 September that they were launching their own platform for NFT operations with support for Solana.

Many have already become tired of waiting for Ethereum to finish its PoS transition. On top of that, there are other blockchains now that don’t start out with limitations that the leading altcoin has. All of this makes us see Mercuryo CEO’s forecast of $500 for Solana by year-end seem reasonable.


The StormGain Analytical Group
(a platform for trading, exchanging and safeguarding cryptocurrencies)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on September 24, 2021, 12:18:07 PM
The Bitcoin billionaires and a boat: a crypto utopia on the sea

In the autumn of 2020, this author spotted an unusual sight: a cruise ship in drydock in Gibraltar. It was rare enough given what the rather rough year it had been for the cruise industry. But this vessel was rarer still. Its hull was emblazoned with the Bitcoin symbol and the name ‘Satoshi’. Could it be that the famously secretive Bitcoin creator had come out of hiding and decided to travel the world in style?

Not quite. Instead, this Bitcoin cruise ship has a fascinating story all of its own, one intimately bound with the philosophy of cryptocurrency and the radical ideas of financial and political freedom behind it.

Have you ever dreamed of starting your own country? Getting away from taxes, bureaucracy and oppressive laws to start anew with a small community of your peers? For a certain type of person, this sounds ideal, but you won’t find much unclaimed land in the modern world to start your new utopia. Then again, most of the planet is covered in water…

The concept of seasteading, or founding independent communities of floating cities — effectively fleets of dwellings that existed outside of countries where homesteads could ‘vote with their house’ whether to belong to the community or join another — became popular among some Silicon Valley libertarians in the last two decades.

This idea of political freedom on the seas always had an economic element. It’s not for nothing that the word ‘offshore’ is a loaded term in financial circles. So, it comes as no surprise that cryptocurrency fans, who venture forth from the same tech-savvy world with a similar desire to escape the overreach of banks and governments, would also become interested in seasteading.

Grant Romundt, Rüdiger Koch and Chad Elwartowski were three crypto investors who had made their fortunes as early tech entrepreneurs. In 2020, they tried to make the seasteading dream come true when they bought the Pacific Dawn, a 245-metre-long cruise ship that the trio snapped up at a relative steal thanks to the decline of the cruise industry during the early days of the COVID-19 pandemic.

These enterprising crypto billionaires planned to sail the ship to Panama, where it would form a floating community just off the coastline. This sea society would trade only in cryptocurrencies, pay no tax and become the centre of a new way of life that others could attach their own floating homes to. The founders hoped to attract other tech-savvy digital nomads who were innovators in the tech world: startup founders, remote tech workers, crypto traders, miners, etc.

The Pacific Dawn was renamed the MS Satoshi in tribute to Satoshi Nakamoto, the handle used by Bitcoin’s mysterious inventor. While many nations would be (and have been) hostile to independent tax-evading seasteads near their territory, the government of Panama even welcomed the proposal, with the Ministry of Tourism touting that it would attract visitors to appreciate the country’s coastline.

It’s been almost a year since the plan was set into motion, so what happened? The sad news is that, even if living a tax-free life in the tropics on a permanent cruise ship with fellow crypto traders sounds like paradise, you probably shouldn’t rush to buy a cabin.

Initially, the MS Satoshi attracted considerable interest from libertarian-minded individuals who wished to either contribute to the project or rent one of the ship’s 777 cabins to reside on it. Monthly rent ranged from $570 a month for cabins with no windows to $719 per month for cabins with a balcony. Electricity and connectivity had been arranged and would scale up with individual users so that residents with power-hungry mining rigs would pay their fair share.

However, there are many practicalities of day-to-day life at sea that cause concerns for potential investors. A cruise holiday may be entertaining for a week or so, but every day? There were no personal cooking facilities, just the ship’s restaurant (which offered a 20% discount for residents). Microwaves were not allowed in cabins for safety reasons. Pet regulations were strict and impractical. And that’s to say nothing of seasickness.

Koch and Co. also discovered that even the ocean was not free of legal red tape; efforts to have the ship re-registered as a stationary residence failed, and the costs of properly maintaining a cruise ship month-to-month started to add up. Finally, there was the issue of waste management. Even the indulgent nation of Panama wouldn’t allow the dumping of waste in their blue waters so beloved by tourists. Instead, the Satoshi would have to make a 12-mile journey every 20 days or so to dump the unusable sewage into international waters.

For the complete story of the MS Satoshi, we recommend this longer article in The Guardian that details all the problems and personalities involved. In the end, the hurdles were too many, and the trio realised that the project was just not going to work out. By Christmas 2020, owner Romundt enjoyed a last hurrah on the cruise ship before he and his colleagues sold the vessel.

Although the MS Satoshi project didn’t succeed, the story still inspires crypto enthusiasts who wish to use their wealth to bring to life their radical dreams of independence and new ways of living. It also serves as a cautionary tale for investors to do thorough research before embarking on any enterprise.

Here at StormGain, our platform provides all the tools you need to build the kind of wealth that makes such dreams possible. Not only do we offer the most favourable rates and bonuses to maximise your gains on crypto trading, but also informational articles, webinars and training to keep clients informed to make good decisions. What will you do with the wealth won trading on StormGain? Go for that new car? Pay down your mortgage? Start a business? Or would you try to build a completely new way of life? The choice is yours!
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on September 27, 2021, 04:00:51 PM
Bitcoin Indices Signal Readiness for Growth

A new wave of increased interest of the regulators towards cryptocurrencies and the restrictions in the operation of a number of crypto exchanges have led to a correction in Bitcoin’s price from $50,000 to $40,000. However, a number of indices signal a near correction end.

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Extreme levels of the fear & greed index signal a nearing reversal. The greed was as its peak when Bitcoin was selling for $60,000, and then fear took over at the $30,000 price level. Now, the fear level is again close to the summer lows, which generates support at the current price levels.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSenXKSFPpMVpqDcRVp2R58v2movVzLSs9Zxey5muvPTt9NLgmoybWDYGBfzursFXweSBx?format=match&mode=fit&width=640)

The most cautious holders are the ones with relatively small amounts (<10 BTC). After May’s drawdown, they have turned to buying again, having lifted their share to the historical 13.9%.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSuh8QJK8f5voqmWX2zvYVNnL6D3EQpCoo8KP5kFPWVsKSEWfafxSLdHqb1uyLNENJqYop?format=match&mode=fit&width=640)

But the whales (≥ 1000BTC) continue to grow their reserves too. Their ranks have shrunk by 15% since February, but the reserves of those who remained have gone up on the average from 3,236 BTC in February to the current 3,722 BTC.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSu7FujtCmFgbhkVX6ARoPadLaMMPErATkbD7Lms2jxX7zsL4ts9qkXb9TPZufJ1YTFD18?format=match&mode=fit&width=640)

A notable example of a true holder is MicroStrategy, which bought additional 5,050 BTC for $48,000 in September. The company’s current reserve amounts to 114,042 BTC (≈$5 billion), and the average purchase price of the coin is $27,713. The company CEO Michael Saylor has written: ‘If I chose gold instead of Bitcoin last year, it would have led to multibillion losses.’

This is a really appropriate time: Jerome Powell at his last press conference went against the market expectations and once again did not establish a date for the winding down of the monetary stimulus program. The regulator continues to print new dollars in amount of no less than $120 billion a month, which continuously undermines the U.S. currency against most financial instruments.


Analytical group StormGain
(a platform for trading, exchanging and safekeeping cryptocurrencies)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on September 29, 2021, 10:45:49 AM
China Is Clamping Down on Cryptocurrency

The Chinese authorities continue to put pressure on the cryptocurrency community, restricting the citizens in their ability to invest and withdraw funds abroad. In May, the State Council banned the financial organisations from keeping and facilitating payments in cryptocurrency, and the National Development and Reform Commission offered a plan for complete liquidation of mining in China.

On 24 September, the list of restrictions was extended:

- Provision of crypto services by banks and financial organisations, including payment settlements between organisations in any way engaged in cryptocurrencies
- Any commercial activity involving cryptocurrencies, be it a sale, exchange or informational support
- Fundraising and donations in cryptocurrencies
- Provision of services to the residents of China by foreign cryptocurrency exchanges
- Any cryptocurrency adverts, including the monitoring and «early warnings» of their identification (this requires constant backup copying of mining mentions).

This is not a complete list of restrictions that has been published. This time not only legal entities but individuals alike have gone under attack. In particular, technical, marketing and other types of support of foreign cryptocurrency exchanges have been classified as illegal activity.

Bitcoin reacted modestly to the new restrictions whose history began in 2013 and has already restored its positions. And the tokens of decentralised exchanges received a strong boost: UNI had added 22%, and SUSHI – 18% in 24 hours.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSji8975ZQrTfcK246J7i2kdxwspYVc8h38jcM2ixLSxL3nYyU2KHZJ1tMVz8X3BpZY3G2?format=match&mode=fit&width=640)

The Chinese authorities are restricting financial organisations from working with their citizens in the cryptocurrency sphere, but they cannot restrict the p2p market where decentralised exchanges (DEXes) like Uniswap reign. Essentially, this is exchange between people via decentralised protocol. There is no centre that could be banned or restricted in its operation. The director of research and development at Synergy Capital believes that the world is in for a big shift into everything decentralised.

The largest exchange by the number of registered Chinese users Huobi announced on 26 September that it would close all of the accounts of its users from the Celestial Empire. A part of them will be transferred to a DEX, which will create additional support for the UNI and SUSHI tokens. Meanwhile, Justin Sun (Tron founder) notes that new restrictions will not substantially affect the market as the people still have the right to buy, sell and exchange cryptocurrency.


Analytical group StormGain
(a platform for trading, exchanging and safekeeping cryptocurrencies)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on October 01, 2021, 12:19:57 PM
Investors Are Running away from Risks, Gold and Bitcoin Are Falling

In the past 12 months, the American stock market has grown by over 30%, and the government debt has grown from 108% to 126% of the GDP. The massive support of the economy has led to the U.S. Department of the Treasury having money only until the middle of October. If Congress does not approve of borrowing above the limit, the government will have to suspend work (the shutdown mode), and in the event of the aggravation of the situation, it will declare a default.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSrnkFAKEHwz371BzLGxkGevwq6L7Bg75T6TGMARHP46RzHSSPoSyeCaDayZBTVxAvhhbc?format=match&mode=fit&width=640)

If case of the negative scenario, the federal government will have to take an unprecedented cutdown in spending, which, according to Moody’s, will lead to the loss of 6 million jobs, the unemployment rate rising to 9% and the stock market falling by 30%.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYShV5Z6MmET9qzSmwa5JAmb1sPs6t4ehCwEj2UUErAGqbhyMxq88FT8kDNgAMvbU1qrDQS?format=match&mode=fit&width=640)

At the moment, the Republicans are blocking the passage of the budget project to get a series of concessions from the Democrats. The deadline date set by the Secretary of the Treasury Janet Yellen is 18 October.

However, one should know that government shutdowns and the elevation of the state debt ceiling are common phenomena for the USA. Thus, the government suspended work three times in the last four years, and twenty times since 1977. Every time, Congress was able to smooth the edges to restart the economy until the next elevation of the budget debt.

Until a compromise is found, the markets will stay under pressure.


Analytical group StormGain
(a platform for trading, exchanging and storing cryptocurrencies)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on October 04, 2021, 04:55:38 PM
Miners Stockpiling Ethereum in Anticipation of Protocol Shift

Ethereum’s transition to a proof-of-stake (PoS) algorithm is expected to take place in early 2022, after which validators will start to be responsible for processing transactions. To earn passive income on the Ethereum network, you’ll no longer need graphic cards or ASICs. Instead, you’ll just need to stake coins in blocks of 32 ETH (~$96,000). Many miners are already getting preparing for the change and staking their ETH.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSemi9FJzresV5wU8krgnd2uYcEDyRNeCxkAaLNeMFpxKoeAKpwsd6iD2uVX3YXw5QDxiJ?format=match&mode=fit&width=640)

The leading altcoin has a capitalisation of $354 billion and is still one of the most promising in terms of growth. However, in September, it somewhat lost ground in terms of the rate of growth to its ‘killers’, Solana (+23%) and Avalanche (+52%). Currently, Ethereum’s operation depends on miners, and the limited speed of the proof-of-work (PoW) algorithm is leading to higher transactional costs. This opens the path for alternative projects, such as Solana, which boasts an average network fee of $0.00025 and operational throughput of 60,000 transactions per second.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSdxjhJMA3hZe6ZE9zL64VL4aryPCEARJRABHWScXUpXNCnDz6UonSgXuG99RS1gFyB2Wa?format=match&mode=fit&width=640)

Nevertheless, Ethereum boasts a lot of authority and support, with 7,000 nodes and 90,000 validators versus Solana’s 600 nodes and 1,000 validators. After the transition to PoS and Ethereum 2.0’s complete deployment, the network’s capacity could reach 100,000 transactions per second.

For these reasons, miners aren’t getting rid of their mined Ethereum at current prices but instead are continuing to increase their reserves and stake coins. According to estimates by Tom’s Hardware, after the London hard fork, miners’ revenues fell by 15% because of the nullification of the auction-based fee. That said, they didn’t try to compensate for their losses by selling off their coins. On the contrary, since improvements were implemented, miners have collectively added 2 million more ETH, raising the figure to 22.3 million ETH or 1/5 of the network’s total supply.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSfXFv4HpwaaWAD4uwULnXDy5pmgqpi86Rwvot5ESWGU5QsAZvnm2QGdZfdRfAvxeviYqL?format=match&mode=fit&width=640)

Users continue to stake their ETH in anticipation of the transition to a new protocol. They’ve already staked a total of 7.8 million ETH, which is equivalent to $23.5 billion. These funds can become available for withdrawals only after the transition to PoS, which is why many users are refraining from staking their coins at a higher rate.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSjiUPB88VvZziUw4Mq3LwhJfhits6RLMYRAqZxH2cQKq3TSHypAbNTBMEnC1h6rJ4f1Ne?format=match&mode=fit&width=640)

According to the roadmap, before the two chains merge, the Ethereum network only has to go through one last hard fork, Altair, which is scheduled for the end of October. Reportedly, the transition to PoS should happen early next year. If everything works out smoothly and the deadlines don’t shift again, Ethereum has a strong possibility of seeing its price increase and even competing for leadership with Bitcoin itself.


The StormGain Analytical Group
(a platform for trading, exchanging and safeguarding cryptocurrencies)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on October 05, 2021, 10:54:52 AM
Crypto is changing the game: how blockchain technology gives fans new ways to connect with their favourite sport

It's an exciting time to be a football fan. The sport is embracing new technology that is enabling fans to show their love for the beautiful game in totally new ways. But even as the digital collectable market expands, the crypto community can still offer fantastic physical prizes.

Are NFTs the future of football fandom? The big finance firms seem to think so. SoftBank Vision Fund, LionTree, Bessemer Ventures, IVP, Hillhouse and Atomico were all lead investors in Sorare, a European fantasy football platform that offers digital collectables in the form of non-fungible tokens (NFTs). Sorare's recent $680 million Series B raise was the largest funding round in NFT industry history, with the company's value clocking in at $4.3 billion.

Sorare's NFTs take the form of digital trading cards representing players that fans can assemble into squads and compete with each other, with scores and prizes based on the athletes' real-life performances. The platform is growing in popularity, with over 600,000 registered users taking on the role of fantasy managers. The Paris-based company claims to have traded over $150 million worth of digital cards on its platform year-to-date.

Sorare's success is a sign that the global sports NFT market is continuing to expand. Several European football clubs are making deals and paying players in cryptocurrency, while fan organisations are using NFTs to validate unique memorabilia. But it's not just football. NFT collectables, unique video clips of brilliant game moments and other digital moments are becoming a bigger part of the wider world of sports, including the NBA and NFL in the United States.

But in Europe, football (or as the Americans call it, soccer) reigns supreme… and with good reason, if we say so ourselves! Sorare's trading/management game hosts NFTs representing some of the biggest teams on the continent, including Bayern Munich, Juventus, Real Madrid and Liverpool. One such team featured on the fantasy football platform is the inimitable S.S. Lazio, StormGain's own football partner. And because Sorare's game is based on real-life performances, we'll be cheering with all the Lazio collectors for the success of our Italian heroes this season, especially if they happen to come up against other crypto-sponsored teams!

While NFTs are a cool way to use blockchain technology to bring the game closer to fans at home, we think that there's something about actually being present and physically close to the action that can't be beat. That's why, as the new football season kicks off, we'd like to remind you to watch this space for some exciting announcements.

Win physical collectors' items and meet the star players

Crypto and football go great together, but NFTs aren't the only way they interact. Thanks to StormGain's partnership with S.S. Lazio, you can also win fantastic football prizes just by being an active trader on the StormGain platform.

The perks on offer for StormGain clients include jerseys and footballs signed by the star players themselves — real, physical ones that you can hold in your hand and display proudly in your home. But there's more than these collectors' items up for grabs!

StormGain users will also have the chance to get close to the action and hobnob with the stars with top prizes such as VIP Private Suite Hospitality for Lazio's home matches, Category 1 tickets for each home match and access to private tours and special events at Stadio Olimpico. These include meet-and-greets with current and former Lazio players and staff.

Qualifying for these fantastic prizes couldn't be easier. Every active StormGain user can win, so make sure to maintain your trading volume and keep an eye out on the app and the website for our upcoming announcements of giveaways, contests and tournaments over the football season. If you're not already a StormGain user, then register in just a few seconds to become a part of the crypto community with the fairest fees and best perks!

Offering over 140 crypto instruments with up to 200x leverage, all wrapped in a fast, user-friendly app, StormGain is the best place to trade and profit from the cryptocurrency market and win some great sporting experiences at the same time. Join the team as we welcome the new seasons of profit and football with S.S. Lazio!
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on October 06, 2021, 04:47:50 PM
Three Reasons Why Bitcoin Has Risen by 16% in Five Days

Last Friday, we talked about the reasons why investors were opting out of high-risk assets. New forecasts have emerged that now claim that cryptocurrencies and the stock market are approaching a crash. For example, Robert Kiyosaki, author of the best-seller Rich Dad, Poor Dad, has already predicted a full-scale crisis to happen this month. The growing intensity of emotions at the end of September has led the Greed & Fear index to fall to nearly the previous lows it’s seen in 2021, when Bitcoin was trading at around $30,000.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSefstfkFHLxcrKp6s3sD7ZWbCAGdZH8bArSjw7sYq6qTE95JFZpEngor9ErCDDZGc6tSz?format=match&mode=fit&width=640)

However, in the last six days, those fears have decreased, and Bitcoin has risen by 16%.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSuhwwU11ie64f1y9JdR214AehQqQk7T6tB7y451Q7fJxPTkzCmFmMxJEtwr8HSd813Ee2?format=match&mode=fit&width=640)

First, President Biden and Congress managed to moderate the situation by agreeing to a temporary funding extension to avoid a government shutdown.

Second, Fed Chairman Jerome Powell declared that the regulator didn’t have plans to ban cryptocurrencies. Stablecoins are a different matter: their issuance and backing should be subject to regulatory scrutiny. The same applies to DeFi. On the contrary, Bitcoin, as a decentralised asset not affiliated with any company, doesn’t require such scrutiny.

Third, Iran’s authorities have lifted restrictions for cryptocurrency mining for licensed market participants. The ban was introduced because of the overload on the electrical grid, something that many worried was merely a pretext. However, miners have once again received access to electricity at one of the cheapest rates in the world. Bitcoin’s hashrate has already exceeded its September highs.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSgqpuqDKqV9M1xpCupr6BRe3S2EaqgTdeStZUu3oqpTNoiMAjftEjtqMAAAcRLLZdqqan?format=match&mode=fit&width=640)

The factors listed above certainly don’t eliminate the risk of a new financial crisis or a crash for most assets, as Kiyosaki has predicted. However, the recent spike in Bitcoin’s price has led to the liquidation of short-position futures worth $35 million. Currently, the coin’s contingency of climbing well above $50,000 is higher than the probability of a financial crisis occurring in October.


The StormGain Analytical Group
(a platform for trading, exchanging and safeguarding cryptocurrencies)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on October 08, 2021, 04:26:51 PM
Bank of America: Cryptocurrencies on the Verge of Recognition, Adoption and Growth

This week, Bank of America’s analytical agency published a report on the prospects and trends for cryptocurrencies’ development, emphasising the new qualities that these instruments give to the world of finance. According to the bank, the world is at the beginning of a 30-year period of adoption of blockchain technologies.

In 2020, digital assets figured into earnings reports of just 17 companies. However, in 2021, that number rose to 147, while the number of cryptocurrency users went from 66 million to 221 million people in the same period.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSrpXaaJHSKHqLcgCAqCy48sdzk2dVq3U77fdt26t4RUiW59YjDJcBfEkD5evS5LxRNqSN?format=match&mode=fit&width=640)

The most rapid growth is observed in non-fungible tokens (NFTs). In 2020, the volume of NFT sales reached $0.25 billion. As of August 2021, it had reached $3 billion. The DeFi market has grown from $19 billion to $210 billion. The main beneficiaries of this growth have been Ethereum smart contracts, which continue to maintain their lead despite the emergence of promising competitors. Ethereum’s year-to-date growth is over 900%.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSrw94GrYAmhWJPo3PFcjJWtSVyDfYCXYg6hzmPwi52RrkHz4ZXTSFS5bfUFVL8z9n2XoC?format=match&mode=fit&width=640)

Bitcoin has a different architecture and doesn’t figure in the NFT and DeFi rally, but that doesn’t stop it from being mentioned more often as ‘digital gold’. BofA notes that, in the past 5 and a half years, Bitcoin has correlated more closely with inflation than gold (the inverse relation is implied). However, there’s not enough statistical data to provide statistically relevant conclusions.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSmEE3AWZ3GMB4Tbwv1YCyp5WNXgMuJfxMG55iUrX9a2v2XFT9wUvFcopqqKWe3V2jct7g?format=match&mode=fit&width=640)

In 2020, the Federal Reserve and the US government started to actively support the American economy by pumping trillions of dollars into markets. To hedge against looming inflation risks, institutional investors started investing in cryptocurrencies. They were responsible for Bitcoin’s rally, which has taken it to $60,000 this year.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYStLmJLjBMtxXa3Se4sic6RPzemHKb5ff41ZdJHxokruyst7EfEBHgDGVZeAWTdJKYHY1U?format=match&mode=fit&width=640)

Considering that real estate in the United States has grown by 20% year-over-year while electricity costs have increased more than twofold, the pace of price growth will continue to increase, and demand for Bitcoin will continue to rise.

BofA sees Bitcoin’s high volatility and regulatory pressure as the main risks for investors. However, with its rising capitalisation, this volatility will subside.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSdvByqEYUim2yTKPsTjCnkvY74GU1XjnRVXCgjrUXgGQfbzkiXxj7LvaKPGrxTzF1PuMY?format=match&mode=fit&width=640)

The regulation front, however, is not as straightforward. If the US opts not to follow China’s actions toward cryptocurrencies, bringing civilised standards to the ‘Wild West of Cryptocurrency’ will only increase its appeal as an investment opportunity. Fed Chairman Jerome Powell has recently stated the Federal Reserve’s reluctance to ban cryptocurrencies but acknowledged the necessity for regulating stablecoin issuance and the DeFi market. This increases the likelihood that BofA’s forecast will come true and that we are indeed at the start of a 30-year growth cycle.


The StormGain Analytical Group
(a platform for trading, exchanging and safeguarding cryptocurrencies)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on October 11, 2021, 05:18:47 PM
FOMO Is Increasing Demand for Meme Cryptocurrencies

The fear of missing out is pushing investors to choose cryptocurrencies with a lower capitalisation and higher growth potential. This is especially visible in a rallying market. Last week, the cryptocurrency market’s capitalisation rose by 8%, with Bitcoin’s moving up by 13% and SHIB’s increasing by 300%.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSgEs7Fde5LYWTMcEaJiExuitGu1croVeqGtMLobWEt84UrGTdQ1SHxZabxNQWPdXSfY4W?format=match&mode=fit&width=640)

US Federal Reserve chairman Jerome Powell’s comment about the regulator’s unwillingness to ban cryptocurrency has positively affected the cryptocurrency market’s dynamics. It has relieved big investors, who have again expressed interest in Bitcoin as a hedge against inflation. JPMorgan analysts wrote about it in their note on Thursday. As confirmation of this inference’s accuracy, on 6 October, news emerged that the world’s second best-performing hedge fund, Soros Fund Management, invested in Bitcoin. Starting in 2020 (when the Federal Reserve switched on the money-printing machine), institutional investors started to overtake the retail sector in terms of trading volume.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYStLmJLjBMtxXa3Se4sic6RPzemHKb5ff41ZdJHxokruyst7EfEBHgDGVZeAWTdJ6TDsiv?format=match&mode=fit&width=640)

Meanwhile, with big capital opting for Bitcoin, traders and small investors are looking for small coins capable of growing fast in a short period. Yet again, an ‘underdog’ cryptocurrency saw a boost with assistance from Elon Musk; on Monday, he published a photo of a Shiba Inu puppy in a Tesla boot.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSu2vEDZ9J5SpwH6Fr6ybZ3zXChwVYMBcsAK6gbC5JFya79aWV7UweEcRUYoce8GgeKC1U?format=match&mode=fit&width=640)

Whether it was a pump organised for lucrative reasons or not is unknown. Analysis by the company Kaiko shows that, on 4 October, the volume across all cryptocurrency exchanges increased, which indicates demand from a large audience.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSfUrtYaqkkfjdJvcwsUdD2TwVR2QRqQDhP8QWuUAf8y8LPtUAapojMWcSrMciNFZvmk6A?format=match&mode=fit&width=640)

But a few days before the tweet, on 30 September, Santiment registered a whale’s attempt to buy 6 trillion SHIB at $44,000. They now cost $282,000.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSkWb1pbr72wG1igocCefLCAk5GDJnycwepMsVZsfpu4yrsoLr7GAoqzqZ23PQ795ZpQdk?format=match&mode=fit&width=640)

Meme cryptocurrencies are at the top of their popularity and are showing considerable growth far ahead of the market. But if you succumb to FOMO, be sure you don’t become plankton for the whales.


The StormGain Analytical Group
(a platform for trading, exchanging and safeguarding cryptocurrencies)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on October 12, 2021, 01:45:21 PM
Crypto trading hamster's gains outperform Warren Buffet

If you’ve been keeping an eye on crypto social media of late, you have probably come across the new celebrity crypto trader sensation that is turning heads throughout the crypto community, both for his trading skills and his irresistible cuteness. Meet “Mr. Goxx”, a hamster from Germany who has taken up cryptocurrency trading, assisted by an ingenious mechanical system. This money-making rodent streams his trades on Twitch, where he has built up quite the following.

Mr. Goxx is cheekily named after Mt. Gox, the trading card site turned crypto exchange that infamously lost almost $5 million in holdings before it shut down in 2014. His human owners, a lecturer and a programmer from Germany, prefer to remain anonymous, letting their furry business partner take the spotlight. Mr. Goxx, whose social media accounts tout him as ‘CEO of Goxx Capital’ and the “World’s first crypto asset trading hamster!”, presumably also allows his more dextrous human partner to type out his Twitter posts, which provides regular updates on his financial activity, including when he is about to trade.

How does he do it?

Even if he has assistance on social media, be assured that Mr. Goxx makes his trades all on his own, despite his lack of opposable thumbs. A video on his YouTube account explains it all: Goxx has an ‘office’ called the ‘Goxx box’, which is furnished with a hamster wheel and two different tunnels, one labeled ‘buy’ and the other ‘sell.’

Goxx’s hamster wheel is no ordinary pet toy. Called the ‘intention wheel’, this device is attached to an automated, rotating Rolodex of 30 different cryptocurrencies, including Bitcoin, Ethereum, and many of the established altcoins. Whenever Mr. Goxx runs on the wheel, the cryptocurrency it is turned to after he finishes is selected to trade. His subsequent choice of tunnel to exit through determines whether the trade will be a “buy” or “sell” position on that particular asset.

Should you spin the wheel for profit?

This unorthodox trading strategy has apparently been delivering big gains for Goxx Capital. Mr Goxx started on June 12 with €326. After a rough first month, Goxx’s portfolio was up 20% by September 27. According to reports, this outperforms Warren Buffet, the NASDAQ 100, the S&P 500, and even Bitcoin itself. Admittedly, this furry fellow is moving around a much smaller amount of money than the likes of the Winklevoss twins – total profit so far amounts to less than €100. But in terms of relative profit, he’s up there with the best of them.

Of course, this doesn’t mean you should blindly follow a hamster wheel in your own trades. Mr. Goxx’s human handlers, two old university friends who started the project to provide some light-hearted entertainment during COVID-19 induced boredom, have taken pains on the hamster’s social channels to remind viewers that the streams are intended to provide a laugh, not to serve as financial advice.

Get the right tools for trading at StormGain

Do you think you could beat a hamster at crypto trading? StormGain gives you all the tools you need to make informed decisions in the crypto market, including easy-to-read charts, trading signals, analytics, demo account, and comprehensive tutorials, all available in the app and web platform. All that plus a multi-tier loyalty program that gives increasing bonuses to maximize your profits. Registering with StormGain is easy and just takes a few seconds. Sign up now to access over 140 crypto instruments with the best perks in the business!
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on October 13, 2021, 04:27:24 PM
Another Four Countries to Accept Bitcoin as Legal Tender

The imbalance of the modern financial system, the hegemony of the US dollar and the dubious policy of the US Federal Reserve are forcing developing countries to look for their own special monetary paths. According to BitMEX CEO Alexander Hoeptner, by the end of next year, there will already be five countries in the world that have Bitcoin as their official currency.

Inflation

Inflation is the main problem developing countries are facing right now. They’re exporting energy resources and agricultural goods to foreign markets, but larger volumes of goods with high added value must be imported. To finance large projects, these countries are forced to take loans primarily denominated in US dollars. At the same time, the market nature of the economy opens the door to international business, which squeezes out local producers and encourages capital flight. All this leads to an increase in prices in the domestic market and depreciation of the national currency.

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For example, while Russia’s official inflation rate is already 7.4%, the Central Bank of the Russian Federation continues to buy foreign currency worth 300 billion roubles every month, and prices in the domestic market are growing due to the active sale of products abroad. The price for timber has increased by more than 60% since the start of the year, and the volume of housing construction has risenby 30%.

This year, the most active importer of building materials is the United States, where lumber futures have increased fivefold. The Fed has printed more than $4 trillion this year, causing a booming economic recovery and heightened demand for a range of products. The problem here is that this money will primarily push up inflation in developing countries, which is why the IMF’s 2021 inflation forecast for developed countries is 2.4%, while inflation has already reached 5.4% for developing countries.
 
Money transfers

In search of income, residents of developing countries emigrate to Europe and the United States and regularly send a part of their income home. According to the World Bank, countries with low and medium GDPs receive 75% of total global remittances. However, payment systems still retain high commissions, taking up to 10% of the transfer amount.

As the president of El Salvador says, the recognition of Bitcoin as the official currency is an effective way to reduce commission costs for and the financial burden on his country’s citizens. At the end of 2019, remittances to El Salvador amounted to 20% of GDP, or $6 billion.

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World inflation is accelerating, and a number of developing countries are already experiencing it to the max. For example, Turkey’s inflation rate has reached 20% again. Unfortunately, political motives often outweigh economic ones, so Turks have been banned from making/receiving any payments in Bitcoin. However, with the rise in prices, we’ll see more countries going the path of El Salvador and recognising Bitcoin as a national currency.


The StormGain Analytical Group
(a platform for trading, exchanging and safeguarding cryptocurrencies)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on October 15, 2021, 04:53:06 PM
Fundamental Factors Are in Favour of Bitcoin Growing in Q4

Statistics are straightforward things. While Bitcoin normally goes down in September, from October to December, it grows by double-digit figures. Last October, for example, the coin grew by 28% and by over 40% in November and December.

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Institutional demand for Bitcoin is on the rise again. According to data from CoinShares, last week, all investment products related to it received over $226 million, and the investment grew by 227%. This positivity is linked with the backing of SEC Chairman Gary Gensler, who has given to the launch of a Bitcoin ETF, an exchange-traded fund that allows investment companies to work with cryptocurrency on a stock exchange. Earlier this year, this instrument was approved for Canada’s Toronto Stock Exchange. In the United States, similar applications are being held with a watchdog agency.

US Federal Reserve Chairman Jerome Powell recently said that the regulator is reluctant to restrict Bitcoin in any way. This has placated investors who fear a repeat of the Chinese scenario in which the government came down harshly against cryptocurrency trading and mining. A growing number of investors have been calling the cryptocurrency ‘digital gold’ due to its built-in revaluation mechanism. JPMorgan spoke last year already about investors’ preferences for Bitcoin over gold.

With the growth of institutional demand, the average transaction size has grown from 0.9 BTC in August to 1.3 BTC in September. The number of daily active market participants grew by 19% last week to 291,000.

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Another bullish factor is Bitcoin’s retention in wallets in anticipation of its continued growth. In the past 7 months, holders have reserved over 2 million BTC, while only 186,000 BTC have been mined, and the total number of coins held by long-term holders (LTH) has reached 13.3 million BTC.

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But big capital isn’t the only party expecting Bitcoin to grow. Judging by the growing funding rate of perpetual futures contracts, traders are again turning to leverage to buy more coins.

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Metrics, statistics and fundamental factors are unanimously signalling that the last quarter of 2021 will be positive for Bitcoin.


The StormGain Analytical Group
(a platform for trading, exchanging and safeguarding cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on October 18, 2021, 04:29:10 PM
Russia Becomes the Third-Largest Bitcoin Miner

China’s ban on working with cryptocurrencies for financial organisations and suppression of cryptocurrency mining in the country caused a 50% drop in Bitcoin’s hashrate in June. As Chinese miners assembled their rigs to move them elsewhere, cryptocurrency miners in other countries ramped up their hashing power thanks to reduced mining costs.

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Back in 2020, China was the leader in Bitcoin mining, providing 50% to 60% of the world’s hashrate. In the United States, then-Director of National Intelligence John Ratcliffe wrote a request to the SEC Chairman to not restrict the operations of American cryptocurrency miners so as not to give an edge to their Asian opponent. However, China has gone its own way.

According to Cambridge University, China is not currently participating in mining. The top three countries are the United States (35.4% of Bitcoin’s hashrate), Kazakhstan (18.1%) and Russia (11.2%).

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Kazakhstan started to develop regulations on cryptocurrencies and mining before Russia. Starting from 2022, miners will pay an additional commission of 1 tenge for each used kWh. Estimates calculate that this could add an additional 5 billion tenges or $11.7 million to the country’s treasury next year.

Now, Russia is concerned about the increased load on the electrical grid because of the newly arrived Chinese rigs to the Irkutsk Region. According to Governor Igor Kobzev, the annual consumption of electricity has grown by 159% and is related to underground mining. In order to solve the problem, the governor suggests diversifying the rates for the population depending on the volume of electricity consumed.

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However, this is not a temporary problem; it will require structural solutions for mining to be pushed outside the grey economy. Bitcoin’s price has not yet overtaken its historical high, and institutional demand expressed in open interest is testing the ATH. The probability of the coin going past $65,000 is very high, and breaking through this important level will increase interest in mining.


The StormGain Analytical Group
(a platform for trading, exchanging and safeguarding cryptocurrencies)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on October 19, 2021, 09:09:10 AM
Nuclear-powered Bitcoin? It could be crypto's eco-friendly solution

Energy consumption has been a hot-button issue in the cryptocurrency world for some time now. Crypto mining is a highly energy-intensive activity that can outpace the consumption of several small countries, and it has drawn criticism for the by-products of carbon emissions and electronic waste. Innovators in the crypto industry are working hard to make cryptocurrency both more energy-efficient and eco-friendly. The latest solution leverages an energy technology that is carbon-free, although not without environmental issues of its own.

Recent reports have detailed that several Bitcoin miners are negotiating deals with nuclear power plants in their area to harness their power for their mining rigs. In particular, some struggling nuclear power plants in the USA have already struck deals to provide energy for crypto mining. One such company is Talen Energy Corp., based in Pennslyvania, which entered a joint venture with TerraWulf, a crypto company that touts itself as “next-generation zero-carbon bitcoin mining”. TerraWulf will establish a huge new mining facility right next to Talen’s Pennsylvania plant, as reported by the Wall Street Journal.

How nuclear and crypto can clean up each other’s act

Older nuclear plants can struggle to source funding and the investment that they need to keep running. Maintenance is of course of critical importance to the nuclear industry. While nuclear energy has attracted controversy in the public sphere due to a few high-profile accidents, advocates point out that the process is statistically very safe and that its waste output is far, far below fossil fuels and natural gas, which are contributing to environmental harm on an existential scale in the form of climate change. Advances in the disposal and destruction of nuclear waste are making the atom-splitting energy source more attractive in our climate-conscious world.

While renewable energy sources would be ideal, the partnership of Bitcoin mining and nuclear power could clean up the environmental side-effects of cryptocurrency, boost the economy of areas that use nuclear power, and provide the funds to upgrade the safety and efficiency of older plants. Miami mayor and famed Bitcoin enthusiast, Francis Suarez, for example, has confirmed that his office had been approaching crypto-mining companies with offers of a partnership with a South Florida nuclear plant. Given that crypto mining firms have previously partnered with fossil fuel plants, nuclear power would be a much more environmentally friendly alternative.

Clean-energy alternatives for Bitcoin mining

Bitcoin’s energy consumption is not only an issue of electricity use but, until recently, its reliance on China’s coal plants to power mining farms also raised the issue of carbon pollution. Nuclear power offers carbon zero energy generation and could provide an invaluable stopgap as the world economies struggle to transition away from fossil fuels.

Are there other alternatives for eco-friendly mining? Yes, and you can participate in it right now. StormGain’s built-in Bitcoin cloud miner allows you to mine your own Bitcoin, simply by trading on the StormGain platform. Unlike traditional mining, Cloud Miner does not use any energy or computing resources from your device. All you have to do is actively use StormGain on your smartphone or computer and hit the ‘activate cloud miner’ every four hours to earn free BTC. The speed of the Bitcoin miner increases the more you trade and level up through the StormGain loyalty programme. To try it out, just take a few seconds to register with StormGain and start trading. Not only do you get access to over 145 crypto assets to trade with fantastic perks, but you will start earning BTC, carbon-free and energy-friendly!
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on October 20, 2021, 04:21:02 PM
Potential Approval of ETF Leaves No Chance for Bitcoin Bears

Since 2020, institutional demand has become one of the key motive forces driving Bitcoin demand: even pension funds are investing in it. However, many companies don’t want to work directly with cryptocurrency exchanges. As a result, they have to turn to derivative assets (e.g., Grayscale equities, which creates substantial commission costs.

(https://stormgain.com/sites/default/files/inline-images/etf-1.jpg)

A compromise solution is trading ETFs of investment funds that have become available on stock exchanges. At the beginning of this year, several Bitcoin ETFs were launched in Canada, where more than $2 billion are now under the management of the biggest funds.

When investing in Bitcoin ETFs, you don’t have to worry about the cold storage of cryptocurrency. In addition, orders on stock exchanges are protected by the law, just like orders for equities. A drawback here is the asset management fee, which varies from fund to fund somewhere between 0.40% and 1.00% a year.

In the United States, applications for Bitcoin ETFs started being submitted in 2013, and only now are there explicit signs of an impending launch for one of them. As a regulator, the SEC doesn’t have to loudly declare the upcoming launch of a new exchange instrument. However, on Friday, the company ProShares sent an amended application to the SEC after making several changes required by the regulator. In the application, the declared fund launch was set for 18 October 2021.

(https://stormgain.com/sites/default/files/inline-images/etf-2.jpg)

The application has not been approved yet, and we are only talking about a Bitcoin futures ETF, not one for the spot instrument. However, this step could be important for recognising cryptocurrency as an investment instrument.

(https://stormgain.com/sites/default/files/inline-images/etf-eng-3.jpg)

Bitcoin is close to reaching a new all-time high, and its capitalisation is above $1 trillion. In the very near future, the asset could become worth more than all the silver ever mined. The emergence of new exchange instruments will lead to an increase in demand for cryptocurrencies.

(https://stormgain.com/sites/default/files/inline-images/etf-4.jpg)

What do you think: is it better to invest in silver or Bitcoin?

 
The StormGain Analytical Group
(a platform for trading, exchanging and safeguarding cryptocurrencies)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on October 22, 2021, 01:24:09 PM
ETF Shows High Demand for Bitcoin Futures

On 19 October, the first exchange-traded fund (ETF) for Bitcoin futures was launched in the USA. Applications for this type of instruments have been coming to the regulator since 2013; however, the SEC has only now allowed large investors to access them. The ETF is traded on the New York Stock Exchange, and its debut has become second by daily turnover in US history.

The company ProShares has been bestowed with the honour of being the first to launch an ETF for a cryptocurrency instrument. The daily turnover reached $1 billion on the first day, which placed the new ETF second after industry giant Blackrock’s “low carbon fund”.

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Interest in the ETF has been so high that, in the very first day of trading, the fund went from starting capital of $20 million to $570 million, and the stock went up by 5%. According to ProShares CEO Michael Sapir, the increased interest in the fund has been linked with the ability to invest in Bitcoin for those who have got a broker account for trading stock instruments and are worried by the prospect of setting up a cryptocurrency wallet.

The news about the launch of the first ETF for a cryptocurrency instrument on the territory of the USA broke before the testing of Bitcoin’s ATH. It increased the possibility of a breakthrough beyond $65,000.

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However, with the acquisition of the ATH price, the selling pressure grows from those who invested in cryptocurrency during a corrective spell and want to lock in a part of the profit. According to the Glassnode metrics, after Bitcoin has been accumulating in wallets during the past four months, an influx of coins to exchanges is being registered. It will keep the bulls in check for a little while; however, the influx of investment capital will lead the price to new ATH’s.

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ProShares is far from being the sole company in the list of applications for a SEC approval. This week already, a Bitcoin futures ETF has been launched by the company Valkyrie. But the biggest expectations of the cryptocurrency community are still linked with an approval for an ETF for spot Bitcoin: the regulator has got over 50 such application. This week they have become one step closer to approval.


The StormGain Analytical Group
(a platform for trading, exchanging and safeguarding cryptocurrencies)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on October 25, 2021, 04:03:37 PM
The World's Biggest Retail Chain Installs Bitcoin ATMs

In the past two years, institutional interest has been the main driver behind Bitcoin's price growth. Hedge funds, pension funds and banks — all of them are adding cryptocurrency to their portfolios to diversify risks and hedge against inflation. Thus, news emerged last Thursday, 21 October 2021, that the Houston Firefighters' Relief and Retirement Fund (HFRRF) acquired $25 million worth of Bitcoin and Ethereum. However, retail demand is no less powerful; increasing numbers of people are learning about this new class of instruments.

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One of the key factors slowing down Bitcoin's adoption is its remoteness from classical financial instruments. Not everyone has cryptocurrency wallets or accounts on cryptocurrency exchanges. However, all of us are familiar with how ATMs or cash machines work. The emergence of crypto ATMs nearby can make cryptocurrency a truly mass instrument.

Walmart is the biggest retail chain in the world, with a capitalisation of $409 billion, 2.2 million employees and 5000 stores.

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As part of the pilot project, the company installed 200 crypto ATMs in the United States in partnership with Coinstar and Coinme. To buy Bitcoin, you have to deposit cash and receive a voucher, which will become activated after you create an account on Coinme.

Such complications are caused by the need to comply with anti-money laundering (AML) and Know Your Customer (KYC) policies put in place to fight fraud and money laundering.

The commission for exchanging currencies and purchasing Bitcoin amounts to an impressive 11%. According to the data from the agency Ascent, 20% of American respondents want to buy cryptocurrency but don't know how to do it. Crypto ATMs are specifically designed for this category of people.

Currently, there are 30,000 crypto ATMs globally, of which 87% are in the US. Some of them allow users not just to buy but also to exchange cryptocurrency for cash. On average, there are 37 crypto ATMs installed daily, and the highest rate is in El Salvador, which has recognised Bitcoin as an official currency.

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The retail sector primarily depends on the infrastructure for this instrument's mass adoption. Last autumn, the payment system PayPal provided Bitcoin with expansive growth by implementing the ability to make purchases, store and clear payments in cryptocurrencies. This year, Walmart could be a similar driver if it puts an ATM in each of its stores.


The StormGain Analytical Group
(a platform for trading, exchanging and safeguarding cryptocurrencies)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on October 27, 2021, 05:40:08 PM
Kazakhstan Shocked by Increased Demand for Electricity

The ban on cryptocurrencies operations and coin mining for financial organisations has led to the migration of miners from China. Some have settled in Russia and Iran, but the majority have moved to electricity-rich Kazakhstan, a country that relies fully on its electricity exports.

In 2017, Kazakhstan generated a surplus of 4.5 terawatts. Its close proximity to China and excess power generation have allowed the country to eagerly welcome Chinese miners. However, the load on electrical grids has turned out to exceed even the boldest forecasts.

A leading ASIC manufacturer, Bitmain, has built a mega rig with 50,000 Antminer S19 Pros in Kazakhstan. Each of these machines generates 110 terahashes per second and consumes 3.3 kWh, while their aggregate power consumption is 180 megawatts.

The influx of Chinese miners has elevated Kazakhstan to second place in the global hashrate ranking.

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According to Cambridge University, China is fully out of the Bitcoin mining game. Currently, the United States ranks first in mining, with a 35% share, while Kazakhstan is in second with 18%. The latter’s hashing power is estimated to be worth 22Eh/s, and the power consumption is 5 MWh of electricity. According to Kazakhstan’s Ministry of Energy, one rig consumes an average of 3.6 million kW a month, enough to power 24,000 households.

The 50 largest mining rigs of Kazakhstan put a load of 693 MW on the electrical grids, and the superfluous consumption growth attributed to unregistered mining rigs is 1,050 MW. As a result, in the first nine months of 2021, electricity consumption in the country has risen by 7.4%, and the government has been thinking about building new power plants.

Minister of Energy Magzum Mirzagaliev has stated that the country needs to build additional power plants with a total power output of 3,000 MW in the next 4–5 years to satisfy the growing demand. And to keep the system stable, it will need to put a limit of 100 MWh in place for new consumers.

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Bitcoin’s price has already reached a new all-time high, while mining difficulty is still below levels seen in May. All this makes for increased mining profitability and high demand for electricity. The countries that can satisfy it will add revenue to their treasuries. In 2022, an additional tax of 1 tenge per 1 kWh will take effect for miners in Kazakhstan. According to estimates, this will add 5 billion tenges or $11.7 million to the country’s coffers.


The StormGain Analytical Group
(a platform for trading, exchanging and safeguarding cryptocurrencies)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on October 28, 2021, 12:48:13 PM
Squid Game inspired crypto trends: what's behind the hype?

Netflix’s Squid Game hasn’t been around for long but has already penetrated almost every facet of global culture. The South Korean survival drama, in which desperate players compete in a series of deadly contests based on children’s games for a lucrative cash prize, has transcended linguistic and cultural barriers to become the most-watched Netflix show of all time. Scenes from Squid Game quickly became popular memes, and the show has been referenced all over social media, not just by fans, but also by corporations seeking to piggyback on the show’s popularity.

One unexpected subculture that has embraced Squid Game is the crypto community. Several blockchain projects have appeared referencing Squid Game in their names, though these are unaffiliated with the series producers or Netflix.

Crypto Squid Games announced

For example, Squid Game NFTs have recently appeared on OpenSea. The linked images use symbols from the series, such as the circle, square, and triangle worn by the pink army in the show. Other NFTs show Korean script or reference characters from the series. The description Squid Game NFT explains that the “squid game cards are an invitation to enter the adventurous and mysterious metaverse games”. The metaverse probably refers to a virtual environment, which are popular with NFT users, but no other details are given. It only cryptically states that the games’ “characteristics and other functionality are intentionally omitted for unlimited imagination and community-driven game development.” Other NFTs also bear Squid Game imagery, including popular ‘ape’ or ‘punk’ versions of characters.

In the case of the invitation to these metaverse games, it has already been teased that a series of six games will be played for a prize pool of ETH, showing clear parallels to the Netflix show. The NFTs themselves are being traded based on speculation of their future value and exclusivity. But fans of the show should also keep in mind how the games were controlled by the elite game masters, and should be careful that they are not being played themselves!

Several competing Squid Game Tokens have been released, offering different benefits for their investors. For example, SGT touts its unique ‘tokenomics’ to make all players wealthy, with a bonus for members who are ‘abducted’ from different token groups. SQGT tokens are based around the ‘marbles’ games featured in the series, where players can bet and win tokens based on guessing the tokens held by another player. SQUID tokens allow players to participate in another competition to win Binance coins. Whichever way you look at things, it’s clear that Squid Game has really captured the imagination of the crypto community.

What do crypto and Squid Game have in common?

1. Opportunity

There is more to the crypto community’s fascination with Squid Game than simple appreciation for the TV show. Squid Game’s premise contains, at its heart, a strong critique of the global financial system. The players of the Squid Game are all in extreme financial difficulty, trapped in cycles of debt and lack of opportunity, excluded from wealth by traditional means. The games present them with a chance to win enough money to completely change their lives, but not without risk. But if they play smart, learn the rules, and control their emotions, they have the ability to win a fortune and escape the financial trap. Is it really any surprise that crypto traders can relate to this?

The risk and reward that comes with crypto trading, plus the different kinds of strategies employed by traders attempting to play a complex system, has led to many comparisons between crypto trading and games. The same kind of drama, tension, and challenge motivates competition and excellence in both.

2. Fairness

One fascinating thing about Squid Game’s story is that the organisers of the deadly games are actually very committed to fairness. Every player is supposed to be equal in Squid Game, and the game masters strictly enforce this rule against cheating or gaining unfair advantage. It’s this sense of fair competition that drives the players to return to the games voluntarily, rather than continue in the normal financial system where the odds are stacked massively against them. Blockchain and crypto are built on the idea of peer-to-peer equality, eliminating the need to give big institutions power over your finances. Cryptocurrency does have its big and small fish, but it’s a lot easier for the average person to get into crypto trading than, say, institutional finance. 

StormGain, too, is based on this idea of fairness and equal accessibility to everyone. Not only is it incredibly easy to register and start trading on the app or web platform, but StormGain also boasts low fees and the fairest profit system in the business. Thanks to its zero-commission profit-sharing model, StormGain traders only pay out when they make a profitable trade, making it fairer for everyone involved. The platform also makes sure that everyone who trades benefits from earning free Bitcoin via the cloud miner, providing this opportunity to all users.

3. Strategy

Distinct from the thrill of sporting competition, we love to see people come up with interesting strategies on how to solve a problem. Ingenious ideas from different characters provided some of the most exciting, tense, and triumphant moments in Squid Game, and crypto is no different. Fortunately, when it comes to crypto, there can be more than one winner, and the community can come together to share their knowledge.

StormGain’s extensive educational program of articles and webinars, plus the demo account and in-app tools such as trading signals and charts, mean that traders have everything they need to analyse the market, learn from everyone’s experiences, and come up with winning strategies. The company holds regular trading contests for special prizes that offer even more rewards for clever tactics in trading.

All in all, there’s plenty in Squid Game that can be inspiring for crypto traders, and all without the dangerous elements of the TV show. Take care to do your research before jumping on any Squid Game NFTs, but if you’re reading to bring your A-game to crypto trading, then register with StormGain to get the best head start!
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: Libertex on October 29, 2021, 03:28:40 PM
informative blog
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on October 29, 2021, 03:48:32 PM
Bitcoin: Less Borrowed Funds, Longer Holding

Compared to the previous all-time high in March, a long-term-holding investment strategy is dominating interest in Bitcoin this time around. The use of borrowed funds and leverage in futures trading has fallen from 70.1% in April to 44.6% now. This diminishes Bitcoin’s volatility because price changes lead to position liquidations less frequently.

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Investment demand received a boost from the approval of a Bitcoin futures ETF. Now, every American with access to the stock market can invest in cryptocurrency. The regulator’s openness to digital assets has impacted Bitcoin futures trading, as well. On the Chicago Mercantile Exchange, trading volume has set a new record of $7.7 billion, and open interest in contracts has risen by 265% in one month.

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After previously reaching $60,000, holders have offloaded part of their reserves, taking profit from the autumn rally. Now, they’re continuing to hold their coins despite the cumulative growth of assets by a value of 2.4 million BTC since the spring, with the expectation that Bitcoin’s climb will continue.

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Bitcoin’s volatility is still high compared to gold or stock indices. However, it’s decreased from 300% in 2013 to its current level of 70%, while its growing user base and decreasing share of margin funds will only add to price stability overall.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSiJgtxWC4QNqd2bMwDVM2sCBQsn3Zee7hBwBBknEPhnKPpqaRcZYCRLL94aJzbxjw9bP4?format=match&mode=fit&width=640)

Right now, Bitcoin is trying to stabilise above the pivotal $60,000 mark, with a number of technical experts hinting at the possible formation of a double top candlestick pattern.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSjeauDq6nKocBJ7BhM7FiaXekpd3mJfsStZ1GAAHsU5UwdoV1CRLYN6oCz1bcBDMNWeuL?format=match&mode=fit&width=640)

Nonetheless, institutional interest is on the rise, and well-known financial organisations are forecasting that Bitcoin will supersede gold as a safe-haven asset. Combined with rising inflation around the world, this creates an opportunity for Bitcoin to rise to new highs.


The StormGain Analytical Group
(a platform for trading, exchanging and safeguarding cryptocurrencies)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on November 01, 2021, 03:39:07 PM
Dog Eat Dog: Shiba Inu Is Pushing Dogecoin

When the cryptocurrency market reaches new price peaks, altcoins start fighting each other in the race for the fastest-growing asset. Meme cryptocurrencies are still a win-win, having seen 1,000% growth in a month. However, this relay baton has travelled from Dogecoin in May to Shiba Inu in October.

(https://steemitimages.com/p/3jpR3paJ37V8JxyWvtbhvcm5k3roJwHBR4WTALx7XaoRovVqFCnWbz6PDgWP29hQeW2KqrZ5zty1izssp4hZ3efk8tD41AuaNr7UoVDCgJHyedyfAgXiZPVHB7oHm3C2xLjSE?format=match&mode=fit&width=640)

The Dogecoin history began in 2013, while its copycat, Shiba Inu, isn’t even a year old yet. Still, the imitation coin has been able to push past its forefather in terms of market capitalisation, reaching $40 billion. For comparison, Electronic Arts and Fujitsu are worth the same.

(https://steemitimages.com/p/JvFFVmatwWHRfvmtd53nmEJ94xpKydwmbSC5H5svBACH81ht4c36vrWPeCcU32PZ4GKaLmdHZRxkM5pTCpEAbT7E2ubgvDVw7ZPLbXFgsREVHQb4BAjezTWnbN6Y5zT6GFVWxCG74z?format=match&mode=fit&width=640)

With Shiba Inu’s rising popularity, the number of crypto exchanges ready to list SHIB is also growing. Among the new ones are BitKan, AOFEX, StealthEx and CoinFlex. Traders on the popular platform Robinhood don’t want to be behind either and have launched a new petition on Change.org requesting to list the coin. Currently, it has 403,000 signatures. The petition states that the earlier listed Dogecoin has had huge success and allowed the platform’s board of directors and traders to enjoy the ride.

However, the two similar-looking cryptocurrencies have some serious distinctions. Dogecoin is decentralised, and its developers are only there as consultants. Shiba Inu is an ERC-20 token created by the anonymous Ryoshi. Whilst DOGE has to be mined, 1 quadrillion SHIB tokens have been instantly issued. The principles of the Dogecoin community have taken shape over the years, with everything starting as an act of charity and later turning into a good tradition. Shiba Inu is being advertised by Chinese celebrities, and the project’s initial goal was to overtake Dogecoin. On top of that, the 10 biggest holders (including crypto exchanges) possess 72% of the SHIB supply.

(https://steemitimages.com/p/3jpR3paJ37V8JxyWvtbhvcm5k3roJwHBR4WTALx7XaoRovqWzzzeY4zXDcDymeMHYgihy7e7LZkmowL2k4GnoPdZNad7jiDrsohZreLBbhw9W7CtZnJ4vD2MgSN1VXF36Qej8?format=match&mode=fit&width=640)

The main goal has been achieved: SHIB is now worth more than DOGE. The 1015 supply is also not an accident. It makes it possible to engage a wider number of users because of the coin’s low cost. So, does this project deserve to exist, or have we run into another con coin?


The StormGain Analytical Group
(a platform for trading, exchanging and safeguarding cryptocurrencies)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on November 02, 2021, 01:43:19 PM
Ethereum Is Well Ahead of Bitcoin in 2021

In the past twelve months, Ethereum has seen its price increase by 980%, while Bitcoin has risen by 340%. The practicality of smart contracts has led to an increase in demand for ETH, and the coin’s deflationary mechanism burns more than what miners can produce.

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One of Ethereum’s price drivers has been the NFT market, which has gone from a cumulative value of $17 million at the beginning of the year to $1.8 billion at present. Almost every world-known brand, from NASA to the Hermitage, now has a digital collection. The only thing impeding this more rapid growth for this sector is the high fees on the Ethereum network, which currently stand at over $50.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSiJ4S9V2BjZJbLNYvXu9otiRN9472WddUVSHtRYMjNkdDdg8rhHJiAduJHo3Sx5dyRDin?format=match&mode=fit&width=640)

The increased costs prevent a larger audience from using NFTs, where most artworks cost less than $100. Nonetheless, user activity on the biggest platform for exchanging digital art, OpenSea, puts the platform at the top in terms of the volume of ETH burnt.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSg5BcKaGvTrT3CrZg2dwTqgrkuSnHG9eVsuHYVddrpbTcSU87tCqMcN1adsonZGmyVvkN?format=match&mode=fit&width=640)

ETH started to be burnt when the EIP-1559 update came into force, which now envisages the base transaction fee being destroyed and miners collecting ‘tips’ whose size is set by the sender. Currently, over $2.5 billion worth of ETH has been burnt; the burnt amount typically exceeds what miners produce daily. This tendency became more apparent at the end of October, when demand for meme cryptocurrencies increased.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYScdYrmQwVzG9h7wu89eFXXtcGN3EndUuumen7Rhdo71ee2hmnusvX6dETKYU91S1d8aEz?format=match&mode=fit&width=640)

Most dog-related meme cryptocurrencies are based on ERC-20 tokens, meaning one first needs to get ETH first to buy them. In October, the fastest performers were ELON (4,000%), SHIB (800%), BABYDOGE (560%) and SMI (540%). The surge in interest towards hyped-up instruments has caused a rise in network activity on Ethereum.

Increased demand for meme cryptocurrencies has a wavy pattern. In contrast, NFTs create more consistent demand for Ethereum, which provides for long-term growth against Bitcoin. Vitalik Buterin’s coin can benefit even more from the transition to the proof-of-stake algorithm, but that is a different story.


The StormGain Analytical Group
(a platform for trading, exchanging and safeguarding cryptocurrencies)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on November 08, 2021, 12:30:17 PM
Squid Game: SQUID Coin Grew 300,000-Fold Before It Collapsed

Hyped-up instruments act as a magnet for rookie investors who want to make a fortune with a single trade. This time, the scammers have used the popular Netflix serial Squid Game by launching the SQUID coin and using attributes of the TV show. The bad actors also retweeted some tweets from popular exchanges to imitate interest in the coin. Normally, after being listed on a new platform, coins see their prices rise, so some investors try to buy them in advance.

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According to its white paper, the SQUID token was issued to be exchanged in the game and earned as part of an online tournament. The 'Squid Game', which was slated to start in November, required payment of a certain amount of SQUID to participate. The winners of every round would get 90% of the contributions to the prize fund, and 10% would go to the developers. The number of participants was not limited.

The coin was listed in October on the decentralised exchange PancakeSwap, and trading started at $0.01. Interest in the game caused massive buying of SQUID, and the coin's price hike, in turn, caught traders' interest. The developers actively used mass media to promote their product, resulting in the coin increasing nearly 300,000-fold in one week to reach $2,856 per coin. The daily trading volume exceeded $7 million.

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The denouement didn't take long to come. By the end of October, it was discovered that the coin couldn't be sold due to a lack of liquidity; buying it was the only option. At the same time, articles began to emerge that pointed out the low level of competence in the white paper, and co-founder of CoinGecko, Bobby Ong, expressed concerns about the project's fraudulent nature.

When the fraud surfaced, the coin lost all of its gains in one day and became five times cheaper than it was upon listing. It appeared that SQUID trading was its own kind of squid game, the winners of which were the project's developers.

It's worth noting that the rapid growth of any project is not a 100% sign of fraud. The cryptocurrency market is still very young, so its participants often go through big upswings and downswings.

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Last year, for example, an anonymous user bought 70 trillion Shiba Inu for $8,000. Now, his fortune is estimated at $5.7 billion.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSkMM3XjwmGN3BeiGLTvTZkoba2o8PkBHEkr9JcEybwN4y7pQcsuALhbNCbV8hgGHMTyJW?format=match&mode=fit&width=640)

Some manage to choose the right product early on, and it leads them to fantastic results. Others lose their investment. Do you think the game is worth the candle?


The StormGain Analytical Group
(a platform for trading, exchanging and safeguarding cryptocurrencies)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on November 10, 2021, 11:50:01 AM
StormGain surpasses 1 million active users: what's the secret?

We are proud to announce an important milestone for the world's best crypto exchange: StormGain now has over 1 million active users! With so many clients spread across the globe who have trusted StormGain to be  their all-in-one crypto platform in just a couple of years, we just know we are  doing something right.

The best tools to dominate the crypto market, your way

Since StormGain was founded in 2019, it has always been the plan to create more than just another crypto exchange. StormGain offers the best conditions for buying, selling and exchanging over 55 different crypto instruments. But now, thanks to a steady rollout of innovative features, such as our cloud miner, loyalty programme, wallets, indices and others, StormGain has become the most versatile all-in-one crypto platform on the market.

To become the one-stop shop for all things crypto for over a million active users every day, we've developed a variety of tools that allow each client to tailor the platform to their particular needs and trading strategy. Whether you're a die-hard hodler, fast and furious day trader or looking to build crypto revenue as a passive income, StormGain has the right tools for you.

HODLing on for the long term

HODL, a.k.a. Holding On For Dear Life, has been the strategy of true believers since the early days of Bitcoin, and the typo has become one of the iconic phrases of the crypto community. Hodlers believe that the best thing you can do with your crypto is to 'hold' (i.e., not sell) as the coin will inevitably increase in value over time.

The hodl strategy has seen some validation very recently when a Bitcoin wallet that had been dormant for over 9 years decided to reactivate. The wallet's initial value of around $8,000 had increased to around $30 million at the time of writing. But there are even bigger whales in the ocean. According to BitInfoCharts, the largest dormant Bitcoin wallet has 80,000 Bitcoins, worth more than $3 billion today. And almost 100,000 out of roughly 100,000,000 Bitcoin wallets hold over $1 million worth.

Bitcoin hit another all-time high of $65,000 last week and is currently trading at $59,000, so anyone who believed and held during 2020's low point of around $6,000 must be feeling very good about hodling! In fact, if you had invested a mere $100 in BTC when it started in 2009 and just held on, your Bitcoin would be worth over $9 million today!

StormGain has a variety of tools to help hodlers get the most out of their stored crypto. Not only does it have built-in secure cold wallets for your cryptocurrency, but you also earn interest on your crypto stored in StormGain, up to a rate of 20% per year. That's a significant bonus on top of the benefits of having your crypto assets appreciate over time. It's no wonder then that so many hodlers trust StormGain as the place to store their crypto.

Making volatility work for you

Another way to make money from the cryptocurrency market involves actively buying and selling daily. In this scenario, the ability to spot the next big trend in the market is crucial. This requires up-to-date knowledge of the market, media coverage, and influencers, as well as a good knowledge of the vast array of altcoins.

Taking recent news into account, this would have meant keeping an eye on the market activity as well as Vitalik Buterin and Elon Musk's social media to predict the 500% price rise of Shiba Inu, the success of Solana and the all-time high of Ethereum.

This kind of trading activity can seem intense and intimidating to beginners, but StormGain was created to make cryptocurrency available to everyone, and as such, has a full suite of tools to help crypto newbies become trading experts step-by-step. Starting with our suite of educational materials that begin with the basics and build up to advanced strategies, to the full-featured demo account for practice and our regular market news updates, every StormGain client has what they need to make the most of the charts, trading signals and analytical tools in the app.

Having all this information at your fingertips makes speculative trading for short-term profits a popular strategy among StormGain clients, especially as StormGain offers up to 300x leverage on the most popular coins.

Mining in the clouds

Mining is one way that people have tried to build up a regular income from cryptocurrency since the beginning of Bitcoin. Traditionally, mining requires substantial computing power, typically a customised GPU, or more recently, specialised mining rigs. As crypto mining technology advanced, mining became organised on a mass scale, making it more inaccessible to the average new crypto enthusiast. Furthermore, mass mining has recently come under fire from environmentalists for requiring very high levels of energy consumption.

That's why we're so proud of our latest innovation at StormGain, the built-in Bitcoin cloud miner. This feature rewards StormGain clients with free BTC just for actively using the platform, with no additional cost to the user in resources or energy. StormGain's cloud miner is energy-efficient, convenient and free, and all of our active users can earn up to 0.0318 BTC per day. So far, 53 million USDT worth of Bitcoin has been awarded to StormGain clients via the cloud miner!

How do you use StormGain?

With fantastic support for every crypto strategy as well as the fantastic rewards for every type of user, it's no surprise that our active user count continues to rise every day. If you're not one of them, then what are you waiting for? It only takes a few seconds to register with StormGain and begin to experience  what the world's best crypto platform can do for you.
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on November 12, 2021, 12:12:19 PM
The best crypto day trading strategies

In one of our recent articles, we talked about crypto day trading, one of the most profitable, albeit risky, methods of making money on cryptocurrency. In this article, we'll take a closer look at crypto day trading strategies.

What is crypto day trading?

Crypto day trading is a variation of speculative trading on the crypto market. In day trading, a trader closes positions on the same day they are opened. This type of trading is also called intraday trading. In day trading, the duration of holding a position is from several minutes to several hours.

Day traders most often use charts with relatively short timeframes, such as 5 minutes, 15 minutes, 30 minutes and 1 hour.

Top crypto day trading strategies

A trading strategy is a plan of action for making a profit from trading. If you don't have a clear trading strategy, it won't be possible to trade cryptocurrency with profit.

A trading strategy usually consists of the following components:

- Rules for analysing the market and finding opportunities
- Rules for entering and exiting a position
- Risk management.

A properly built trading strategy should answer four main questions about your every trading position:

1. What triggers entry into the position?
2. What triggers an exit from the position?
3. Where should the Stop-Loss be?
4. What size should the position be?

The choice of a trading strategy should be consistent with the trader's goals, experience, personality and discipline, as well as the amount of time a trader is willing to devote to trading. A ready-made trading strategy is like a clear action plan that can be applied to both manual and automated trading.

Below, we outline some of the most popular trading strategies for crypto day trading. Remember that different strategies may be more or less suitable for different assets. Before using the chosen cryptocurrency day trading strategy, you must first test (and backtest) it on the selected asset.

Range Trading

Range trading is a simple trading strategy used when the price moves sideways in a certain range between horizontal support and resistance levels.

When using this strategy, a trader opens a long position when the price bounces off the support level and closes it when the resistance level is reached (or when the price approaches it if the trader sees that the momentum is weakening and the price may not reach the resistance line).

The Stop-Loss with this strategy is set slightly below the support level. Keep in mind that a Stop-Loss order placed too close to the level can be triggered by a false breakout, and one that is placed too far from the level will increase your losses if the breakout turns out to be real. If a confirmed breakout of support or resistance level occurs, the trader should wait for a new range to form and start trading within it.

(https://stormgain.com/sites/default/files/inline-images/%D1%81rypto-day-trading-strategies-1.jpg)

Channel trading

The channel trading strategy is very similar to range trading, but it's used when the price moves inside an ascending or descending channel.

When using this strategy, the trader opens long positions at the lower border of the channel and closes at the upper one. Short positions, in turn, are opened at the upper border of the channel and closed at the lower one. Bear in mind that the better trades are those that correspond to the trend. This means that it's better to open long positions at the lower border of the ascending channel and short ones at the upper border of the descending channel. The Stop-Loss is set outside the channel boundaries and follows their direction.

Just as with range trading, when one of the channel boundaries is broken, the trader waits for a new channel to form and starts trading within it.

(https://stormgain.com/sites/default/files/inline-images/%D1%81rypto-day-trading-strategies-2.jpg)

Breakout trading

This is a very popular strategy that intersects with the previous two, and many traders use it in combination with one of them. When using this strategy, a trader waits for a breakout of a support or resistance level or a trend line and opens a position at the moment of breakout.

Usually, breakouts of important levels are strong price movements with increasing volume. A trader using this strategy tries to get into this movement and participate in it at the stage of formation. Participation in the breakout at the stage of its formation gives you the opportunity to reduce risk because the Stop-Loss will be closer to the entry point.

Traders who prefer a more conservative approach don't open a position at the moment a breakout occurs but after the price returns to the broken level and bounces off it. Take-Profit orders placed beyond the breakout point shouldn't exceed the previous range in most cases. Since there is no guarantee that the price will reach your goal, it's important to monitor the position and close it if price movement significantly weakens before triggering your Take-Profit order.

In addition, the breakout may turn out to be false, and the price will return to the range. A common sign that a breakout will be false is low trading volumes at the time of the breakout. The Stop-Loss is placed just below (or above if dealing with a short position) the broken level.

(https://stormgain.com/sites/default/files/inline-images/%D1%81rypto-day-trading-strategies-3.jpg)

Moving averages crossover strategy

This strategy uses such a popular indicator in technical analysis as moving averages (MA). This strategy often allows you to identify a trend change. For this strategy, two moving averages are used, one with a longer time period, the other one with a shorter period. Day trading often uses moving averages with time periods of 9 and 20 candles. When the short MA crosses the long one upwards, it's a buy signal; when the crossover occurs downwards, it's a sell signal.

It's worth remembering that MAs are lagging indicators, so they won't indicate the best point for opening a position, and if you reduce their timeframe, they'll give a lot of false signals.

(https://stormgain.com/sites/default/files/inline-images/%D1%81rypto-day-trading-strategies-4.jpg)

Crypto day trading strategies for beginners

The strategies described above have gained popularity, not least because of their simplicity, so they're quite suitable for beginners. Nonetheless, all of these strategies are based on technical analysis, so you need to master them to successfully apply them.

Tips for crypto day trading

In the previous article on crypto day trading, we gave some tips for novice traders. Here are a few more.

- In day trading, don't use averaging into a position. Averaging into a position means buying an asset at a successively lower price (or selling at a successively higher price for a short position). Keep it for longer-term trading strategies.
- Choose only the strategies that you understand well and adjust them to your circumstances.
- To increase the reliability of your strategy, confirm the opening of a position using additional indicators, but don't use more than 3 or 4 simultaneously.
- Don't start trading multiple cryptocurrencies at once. Pick 2 or 3 and practice your strategy on them.
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on November 15, 2021, 03:35:13 PM
SHIB vs DOGE: which dog to back in this fight?

Who let the dogs out? The crypto community has gone completely crazy for canine coins. Tokens inspired by the cute Shiba Inu puppy, whose meme delighted the internet years ago, sometimes called pupcoins, or more generally memecoins, have become the hottest cryptocurrencies on the market. Now, you can also get your piece of the action and trade Shiba Inu (SHIB) and Dogecoin (DOGE) on StormGain, but which pup should you put your money on?

Shiba Inu and Dogecoin may have both started out as jokes, but they recently made the top 10 largest cryptocurrencies by market cap, rubbing up against famous altcoins such as Ripple (XRP), Polkadot (DOT) and Cardano (ADA). They aren't even the only canine coins in the competition, with others such as HUSKYX also making big gains lately. But we're going to focus on the two top dogs. What are the differences between them?

Technical differences

Shiba Inu Crypto and Dogecoin are both based on the same meme, but these cryptos are quite different breeds. In fact, only one of these, Dogecoin, is technically a coin. The Dogecoin network, forked from Litecoin (LTC), has its own dedicated blockchain, and DOGE coin transactions are native to this chain. When you make a trade with DOGE, that transaction is logged on the Dogecoin blockchain, just like with Bitcoin and other distinct cryptocurrencies. SHIB, on the other hand, is a token on the Ethereum blockchain. Transactions of SHIB are recorded on the Ethereum chain rather than on its own.

The practical effect of this is that DOGE is a coin that can be mined, and Dogecoin itself works on a proof-of-work consensus algorithm similar to Bitcoin. The developers plan to upgrade to a proof-of-stake algorithm in the near future, which is a model favoured by more advanced cryptos. One can't mine SHIB because it does not have a consensus mechanism to enable this. However, the developers of Shiba Inu did create a platform called ShibaSwap exchange, on which users can stake their SHIB holdings in liquidity pools in exchange for token rewards.

There is much more SHIB than DOGE...for now

Both dog-themed cryptos also differ in terms of supply. Not only do they start at different numbers, but those numbers are rending in different directions. The supply of Shiba Inu tokens is started at a mind-boggling one quadrillion SHIB, much higher than DOGE's current supply of about 132 billion. But here's the thing: SHIB's total supply is shrinking, while DOGE's is actually growing.

DOGE's supply isn't deducted from a limited pool a la BTC. Instead, miners mining for Dogecoin actually mints brand new coins, adding to the total supply in circulation. The Dogecoin mining protocol is designed to slowly decrease the amount of DOGE that can be mined in a year, but the total supply will still go up. Meanwhile, SHIB's initially large supply is going down, sometimes very dramatically. Ethereum founder Vitalik Buterin was recently gifted 500 trillion SHIB by the developers, which he then proceeded to burn, drastically cutting down the supply. The sudden drop in supply, in turn, created a huge demand for SHIB with a corresponding price increase. Eventually, the lines on the chart will cross, and DOGE should become more plentiful than SHIB in the future.

Price of the puppies

Each crypto in this doggy duo also differs from the other in terms of price. At the time of writing, DOGE is trading at about $0.26; SHIB looks much more affordable at $0.000055. However, both SHIB and DOGE have seen exceptional growth recently. A large enough investment can yield significant returns, with analysts predicting DOGE to hit between $1 and $1.50 over the next year. SHIB's unprecedented growth certainly created millionaires and maybe even billionaires who invested early, and although its growth has slowed recently, analysts have predicted that it could reach heights of $0.000094 or more, rewarding investors who hold enough of the token.

Watch out for influencers

When considering the price of these meme coins, one should bear in mind that they both owe their amazing growth due to buzz on social media. Dogecoin is, of course, championed by Elon Musk, whose Twitter account is incredibly influential on certain market assets. Musk himself is in business with Dogecoin and frequently encourages his Twitter followers to send it to the moon. The Tesla CEO often makes joking references to the meme, calling himself 'Dogefather' and 'Lorde Edge' (as in, Elder Doge?). Wordplay aside, it's clear that this billionaire is still invested in DOGE, both for amusement and profit. Who knows what game he'll play next?

SHIB has a similar story of being a social media sensation. As previously mentioned, Vitalik Buterin has been a big influence on the price, but another factor has been the Shiboshi NFT collection. NFTs are a popular section of the cryptocurrency market right now, and the Shiba Inu team skilfully used them to promote their token. All in all, anyone interested in trading either SHIB or DOGE would do well to stay up to date on social media, the NFT market, and crypto influencers!

Trade SHIB/DOGE on StormGain today!

Both of these exciting cryptos are now available on StormGain along with 150+ other crypto instruments, but which dog will win the race? Take the opportunity to invest in SHIB, DOGE or both while benefitting from StormGain perks such as high leverage, profit-sharing, zero-commission trades and loyalty benefits.

Not a StormGain user yet? Sign up in just a few seconds to start trading today and join the clash of canines!
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on November 16, 2021, 04:29:37 PM
Bitmain Releases New Super-Efficient ASIC

The miners' arms race is picking up momentum. The order list for ASICs is fully booked for half a year in advance, and big companies are choosing to charter private jets to not lose time on ocean freight delivery. Bitcoin's price has set a new historic high, while computation difficulty remains below May values.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSrFVj9CyWNfDMFa3ApPVWxzbQgjG25qJoemg1ZeuqcW3MqPJ14Ja9kL2jEGC8x2iRF8Qe?format=match&mode=fit&width=640)

This stimulates participants to ramp up their computational power, and the manufacturers are working on the production of more efficient models. The world's biggest ASIC provider Bitmain the other day presented the Antminer S19XP model with a hashing power of 140 terahashes and power consumption of 3 kWh. The new model's energy efficiency is 37% higher than that of the top-notch S19 Pro because it uses 5-nm chips versus 7-nm ones. This provides 25% more profitability with the same level of electricity consumption.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSudjg5FrNAfd618ntDRUXGpPNtyJhvrumnGZ4XRCFwY8FXwn34aiFYTZjBvy9UHuST18r?format=match&mode=fit&width=640)

The biggest mining companies are public. On the one hand, they're reducing their own financial risks by using raised capital; on the other hand, they have to constantly update the equipment to maintain their investment attractiveness. This explains the high demand for ASICs and long pre-order lists (besides the shortage of semiconductors).

The first S19 XP will go to such companies as Greenidge Generation Holdings, Ault Global Holdings and Bitline. These machines will only become available for a general audience no sooner than Summer 2022. According to estimates from Luxor, Bitmain will have produced 280,000 new ASICs by the end of next year, which will cumulatively provide a quarter of the current global hashrate.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSg4rkRcf3H7aoiE65PQeprEK5wTDokkKCNsC1uUswoFybh6Ah1Q8LL2H9U7xvjCYibBP4?format=match&mode=fit&width=640)

Thanks to the coin's high price, the average mining profitability from one terahash is at $0.35 a day, a three-year high. As there are no signs of a big Bitcoin correction happening in the near future, further escalation of the arms race and the growth of the global hashrate will likely continue.


The StormGain Analytical Group
(a platform for trading, exchanging and safeguarding cryptocurrencies)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on November 19, 2021, 03:40:05 PM
Solana Grows 100 Times in One Year and Makes It to Bloomberg Terminal

Smart contracts are one of the biggest drivers of the growing range of applications of cryptocurrencies. Ethereum remains dominant due to its high decentralisation, but it's losing ground to newer projects in terms of transaction fees and processing time. While Ethereum's throughput doesn't go above 15 transactions per second, the so-called 'Ethereum Killer', Solana, can process 50,000 operations in the same amount of time.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSrEfJhxBzmBvZWQnrVLvsayzxCcgBp8f6ieexhJh4RThGNnBUgCUQZHcnYcZhg5vMaDS6?format=match&mode=fit&width=640)

Smart contracts are being actively used in the decentralised finance (DeFi) sector. Ethereum accounted for 97.7% of locked liquidity at the start of the year, although this figure has contracted to 66.7% since then. Solana has the third-most locked liquidity, with $13.3 billion in locked funds and a 5.2% share. This high amount has been achieved in a relatively short time; the main network was only launched in the March of last year.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYStLuUWT7AseQaydxwR91vUVqxBVt2aNjy1hcLN1o6GnEgqKan5xGZY7omm9zuzQCCF5uG?format=match&mode=fit&width=640)

Later, Solana also entered the battle for non-fungible tokens (NFTs) used in digital art. The debut happened three months ago when a collection of 10,000 monkeys was sold in 8 minutes. The sale proved the network's fast speed and very low commissions (less than 1 cent). Currently, 193 NFT projects support Solana, and the NFT visuals turnover using this blockchain has exceeded $900 million.

Solana's success has caused a 100-fold growth of its price and pushed the network to fifth place in terms of market capitalisation, with $64 billion. Because of high institutional demand, the cryptocurrency has the third-highest market cap (after Bitcoin and Ethereum) and has been added to Bloomberg Terminal that allows traders to monitor quotes.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYStJx2ESqWD2hDZAK1JY8GXqELCFa7oxWVLA98j7XX8eHtV4Z2KM2RJJdWPAgnjjAmPyhg?format=match&mode=fit&width=640)

Solana is gradually catching up with Ethereum in terms of nodes: 982 nodes against 3,346, respectively. Its improving decentralisation, coupled with low commissions and high transaction processing speed, is increasingly swaying start-ups to choose Solana as their base blockchain.


The StormGain Analytical Group
(a platform for trading, exchanging and safeguarding cryptocurrencies)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on November 22, 2021, 01:19:22 PM
Get ready! An extra signal drop and bonuses are coming at StormGain on Black Friday

Black Friday is almost upon us, and the world is preparing to snap up bargains during the year's biggest shopping holiday. But Black Friday isn't just a time to save money. Here at StormGain, it's also a time to make money.

StormGain will be running a special Black Friday promotion for the whole week starting Monday, 22 November, and ending on Sunday, 28 November. The main perk of Black Friday Week will be a special trading signals drop to users' accounts. StormGain trading signals are based on technical analysis tools and provide easy-to-digest tips on crypto movements to help you quickly jump on trade opportunities. Don't miss out on this chance to supercharge your trading and profits!

What kind of deals can I expect?

- StormGain clients who have previously made a deposit on the platform have to make a Bitcoin trade with the maximum leverage during the Promotion Period. After that, they'll receive a free trading signals drop on Black Friday itself (26 November). Additionally, clients who deposit 50 USDT or more will receive double the signals and a 10% bonus on top of everything else!
- Clients who have yet to fund their account can make their first deposit of 50 USDT or more to receive a trading signals drop on 26 November and a 20% bonus.

All participants will receive between 5 and 10 signals on Black Friday (26 November) via push notifications.

Bonuses will be credited to participants between 29 and 30 November.

Should you buy the dip? How to use StormGain's Black Friday promo for maximum profit

To make the most of the extra trading signals, it's important to prepare to actively trade during this time and take a look at current market trends.

Bitcoin is on the decline following a drop from the recent all-time high of $69,000, leading to many calls in the crypto community to 'buy the dip' as the top crypto currently hovers around $60,000. Bitcoin believers have been vindicated in the past, as Bitcoin has fallen a few times in recent years, only to bounce back and hit new highs. The trick is timing the bounce to catch the rebound.

And what about altcoins? As much as many altcoins present improvements on Bitcoin's system, the truth is that their value tends to remain tied to the original cryptocurrency's. Where BTC goes, other coins tend to follow. As such, with few exceptions (such as Avalanche or ARC Governance Coin), Ethereum and other BTC competitors have also dipped and are also likely to bounce back, though perhaps not at the exact same time.

That's where the extra trading signals come in handy. To make the most of market movements during Black Friday week, you'll need to be on the ball and aware of many different crypto pairs' short-term activity. The trading signals drop will do a lot of the work for you, allowing you to trade more effectively and efficiently.

Get ready for Black Friday trading!

Don’t forget to trade BTC with the maximum leverage and/or make a 50 USDT+ deposit during the promotion period to take advantage of this special opportunity to maximise your gains. If you're not a StormGain client yet, sign up in just a few seconds to qualify for the bonuses and enjoy trading on the crypto platform with the best perks in the business.

Remember, you have to accept the invitation to get into the game. Make sure you turn on email and push notifications from us and keep an eye peeled for the promotion start!
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on November 23, 2021, 02:22:47 PM
NVIDIA Fails: Mining Processors Lack Demand

Gamers' complaints about the high price of GPUs have been heard. First, NVIDIA tried to limit the computing power of its units for finding the right hash function. Later, it released a specialised unit for mining called a crypto-mining processor or CMP. But the stunt didn't work; CMP sales plummeted.

The CMPs were intended to replace the GPUs from the RTX 30 series, which outperform all other GPUs in terms of Ethereum mining profitability. When the top RTX 3090 was released in Autumn 2020, it could pay for itself in four months, and Ethereum's skyrocketing price would fire up investment interest in graphic cards.

(https://steemitimages.com/p/2N61tyyncFaFVtpM8rCsJzDgecVMtkz4jpzBsszXjhqan9uuF1nuNX9v34pUboxFzUPtTGrLb6fvvMbH3hKt4NpwjqKaGFpA2GrmCUHeG4hWukzugKwRPsLqjcnH6Gpwrp78BbZgMMee?format=match&mode=fit&width=640)

The programme limit put on computing power didn't work because cryptocurrency miners found a way to bypass it. Then, in early 2021, NVIDIA released its CMPs, which are a downsized version of graphic cards without a video output. Sales crashed because these processors didn't solve the chip shortage problem, and miners didn't buy want to a small discount in exchange for the loss of universality.

(https://steemitimages.com/p/D5zH9SyxCKd9GJ4T6rkBdeqZw1coQAaQyCUzUF4FozBvW7qVvKdBe4g7RGnPStzdDstwRp3tAMoPvbHL25BHSezSXvgk7ksN1ZWX6RyNUPbETS3KLRebj3U3bcBcmx8yvmnsqQ?format=match&mode=fit&width=640)

What's worse, CMPs turned out to be less effective. Even though they use the same amount of energy, the top 90HX model produces 86 Mh/s, while the RTX 3090 produces 121 Mh/s. A CMP is 30% cheaper than an RTX, but they both have a similar ROI period of about 18 months. This means that, as mining difficulty goes up, CMPs will retire sooner, while RTXs will still deliver profit. On top of that, you can start using RTXs for their main purpose.

(https://steemitimages.com/p/D5zH9SyxCKd9GJ4T6rkBdeqZw1coQAaQyCUzUF4FozBvW7QC97deD1b4FXQEFHLnep1UWRU7UXJokQnMHuh5H5LUEbQF7GuF4HPnL7LGArzEPnjMNrHwWgC1Jtshvqr5dzRASi?format=match&mode=fit&width=640)

It comes as no surprise that the CMP sales fell by 60% in the third quarter and that the company is forecasting a further slump in demand. If you take the total volume of the CMPs sold from the sales of graphic cards, they make up only 3% or $526 million out of a $19.3 billion market.

The company tried its best to decrease the shortage of graphic cards caused by cryptocurrency mining but experienced a fiasco. NVIDIA's chief financial officer, Colette Kress, stated that the company doesn't know how much demand for its products comes from the cryptocurrency market. Nonetheless, the sales of graphics cards have increased by 50% compared to Q3 2020, and sales total $3.2 billion.


The StormGain Analytical Group
(a platform for trading, exchanging and safeguarding cryptocurrencies)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on November 24, 2021, 02:30:38 PM
Chase for Profit: AVAX Replaces SHIB

Cryptocurrency traders cause cashflows to go up and down while searching for fast-growing projects, which causes high volatility. Last month, Shiba Inu was among the favourites with a 100-fold growth in one month. In November, Avalanche has been a strong performer, seeing 109% growth in the past 22 days, even among a generally consolidating cryptocurrency market

(https://steemitimages.com/p/6VvuHGsoU2QBt9MXeXNdDuyd4Bmd63j7zJymDTWgdcJjnzrbGKRQyD89fUDLsUofLvi1mweiXF2wAT1etmWTPKydzZgZfH4rWXYotWiMMMmBbPxKZ1ZK91g5gZLiyU?format=match&mode=fit&width=640)

A good way to see the change in sentiment is to look at daily volume. A month ago, SHIB was among the top three crypto coins by this metric, being behind Bitcoin and Ethereum (excluding stablecoins).

(https://steemitimages.com/p/qjrE4yyfw5pEPvDbJDzhdNXM7mjt1tbr2kM3X28F6SraZeMyhevQevhjqdYJP8KKQfLpYzhfQFXy1nvqomA523n6XvzWGo3nkq7CCRcVV67jxtYmURpvwhmp?format=match&mode=fit&width=640)

Now, its place has been taken by AVAX, which has a trading volume of $3.7 billion and a market capitalisation of $29.7 billion that earned it a place in the top 10 cryptocurrencies by market cap.

(https://steemitimages.com/p/qjrE4yyfw5pEPvDbJDzhdNXM7mjt1tbr2kM3X28F6SraZe6FomGAgZULLtyHS523TKoh8ov39iZfv8XxcMftjRyXxUkpYBSjQ7C2ibBndwE1YjBjVrH1SP66?format=match&mode=fit&width=640)

Avalanche can boast a high throughput of up to 10,000 transactions per second and super-low network fees. Because of the shard chains, the network does not have high workloads and has good scalability. It has been just over a year since its mainnet launched, and AVAX already has $12.4 billion worth of staked funds, which makes this blockchain the fourth most-popular one in DeFi.

(https://steemitimages.com/p/qjrE4yyfw5pEPvDbJDzhdNXM7mjt1tbr2kM3X28F6SraZdMbiSYbSFdZntFBCeTLsdgJwJjy28zGCEW8Lro18aN1d7qs2uKxbg2NE685h3nSZFeuHodtEa3Q?format=match&mode=fit&width=640)

The project’s practicality has been duly rated by one of the biggest consulting companies, Deloitte. Last week, their collaborative work on a platform for help in natural disasters, Close As You Go (CAYG), became known. CAYG is a cloud-based solution optimising applications for federal aid. Avalanche is providing security, high-speed access to financing and transparent operations.

Shiba Inu is a meme cryptocurrency, and its initial goal was to overtake Dogecoin by market capitalisation. The price of such coins strongly depends on speculative interest. As a result, SHIB has fallen almost twofold this month. Avalanche sets more serious goals of providing high throughput speeds in the world of finance without sacrificing decentralisation and security. This supports long-term interest in AVAX, while SHIB risks falling further.


The StormGain Analytical Group
(a platform for trading, exchanging and safeguarding cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on November 25, 2021, 04:20:21 PM
Bitcoin no Hedge Against Inflation? Not for Turkey at least

Last year, JPMorgan had already highlighted the high likelihood of Bitcoin replacing gold as a hedge against inflation. At least for one of the developing countries, this forecast had come true: in two weeks, the Turkish lira lost over 30% of its value, and inflation has once again reached 20%.

In response to rising inflation, central banks typically hike interest rates in order to slow down the cash flow and decrease lending. Credit becomes expensive and deposits become the preferred option. This takes the ‘fever’ out of the economy and prices tend to fall. Such a tactic has its pitfalls, but it does help to avoid hyperinflation, which is harmful for any economy.

The Turkish president has his own vision of financial policy, which runs counter to classical economic theory. Since 2019, Erdogan has changed the central bank chairman three times as he wanted to keep interest rates down. Along with high net government spending, the military campaign in Syria, and growing state debt, it led to a spike in inflation of 19.9% in October. Meanwhile, the central bank lowered the interest rate in the middle of October from 18% to 16%.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSg7FpEo7YrrUDpaRdBH8ecx14JwCRNUzgJVKPtHwcfvAe1KtrNv9RKuNSUFu3ewoyKaaz?format=match&mode=fit&width=640)

Since 2020, the Turkish lira has become two times cheaper than the US dollar. Searching for a hedge against inflation, Turks started to buy Bitcoin en masse as the number of new registrations from the region rose 300% in late 2020. In March 2021, the cryptocurrency’s trading volume reached $27 billion, which is more than 30 times its level at that time last year. Back then, Erdogan proclaimed war on cryptocurrencies and later put a ban on their use as a payment means in April. A share of Turkish crypto exchanges closed; however, it did nothing to reduce the interest in Bitcoin.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSjjSBWEzQV8nxrMfykiypZztWq4PQ5UYpoxWmiC1qSukymjZz4vqThXSZ3ot8vHxiB3KC?format=match&mode=fit&width=640)

According to a local cryptocurrency platform BtcTruk, in the last 24 hours, the daily turnover in the BTC/TRY pair topped $55 million and is still growing. The way MicroStrategy CEO Michael Saylor sees it, Bitcoin is the last hope for turkey, and the country should follow El Salvador’s example.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSgyKPCYTzRh1uUiALiXPqHQaXjvqUJBxFbq44AmqaBMmF2Y4W3ohVDQtF4ARWrQAiDD7C?format=match&mode=fit&width=640)

The main difference between Bitcoin and state currencies is its deflationary mechanism. While separate states and leaders can print more money to finance their political ambitions, the rate of issue of new bitcoins falls by the year. Besides that, the block mining reward shrinks every four years, and the total amount of coins is limited to 21 million. From January 2020, the money supply (M2) of the Turkish lira has grown by 56%, and the Bitcoin supply – by just 4.1%. It is unsurprising that the BTC/TRY pair is hitting new highs.

And how, in your view, can cryptocurrency be viewed as a hedge against inflation?


The StormGain Analytical Group
(a platform for trading, exchanging and safeguarding cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on November 30, 2021, 04:36:25 PM
Metaverse Boom to Increase SOL and AVAX Growth

The development of the Internet and virtual reality technology has brought about the emergence of new ways to interact socially: communication through metaverses. One of the most popular ones now is Decentraland, where users can buy plots of land and create their own NFTs. The platform’s popularity has led to a plot of virtual land being sold for a record $2.4 million and Barbados becoming the first country in the world with its own embassy and metaverse.

The metaverse market is growing exponentially. According to Grayscale, by June 2021, the number of users had grown tenfold in 18 months, and market volume will surpass $1 trillion in several years. Epic Games, Facebook and the Yakutsk company MyTona have all expressed their willingness to create their own metaverses.

(https://steemitimages.com/p/6VvuHGsoU2QBt9MXeXNdDuyd4Bmd63j7zJymDTWgdcJjo1RL3tEVFAhLFTrPQhPSwEHBktPcMH38ZRgNqim2dKr7n2mzDb6J96LMw1khRbdcrgHYqMk1edtp1qizMt?format=match&mode=fit&width=640)

Projects may differ in terms of genres, visualisations and the degree of immersion, but all of them share in common their pursuit of commercialisation. This is where smart contracts and non-fungible tokens (NFTs) step in to help. In-game coins allow users to buy and sell digital objects, and blockchain technology allows funds to be easily transferred between platforms and converted to fiat currency afterwards. In other words, you can create an attractive art object in a metaverse, then sell it on an outside online auction for cryptocurrency. And you can swap the cryptocurrency for fiat on an exchange or save it in your own cryptocurrency wallet.

The ability to generate income is especially appealing to both users and businesses, which can use virtual showrooms to showcase content and sell physical goods for vouchers. In the near future, sales will be made in various metaverses’ showrooms rather than on websites.

Smart contracts allow a number of financial processes to be automated, providing fast trade speed and security. Ethereum was the first blockchain with smart contracts, but due to the bulkiness of the proof-of-work algorithm, it is consistently losing its market share to the faster Solana and Avalanche blockchains. In one year, Ethereum’s DeFi share has shrunk from 96% to 66%, and SOL and AVAX currently have 5% each.

(https://steemitimages.com/p/cyxkEVqiiLy2ofdgrJNxeZC3WCHPBwR7MjUDzY4kBNr81NjiaP6NpL46GdhA4sJJmikx6mexksGywJMV1SdKZDfzvtgvvsvpc7YkVXPXqf9Rxa2Tgu6FyE8MCFsZfEdSNar?format=match&mode=fit&width=640)

Native coins of metaverses, such as MANA and LAND in Decentraland, will have high price volatility depending on how popular the platform is. But all of them will increase demand for the cryptocurrency of the blockchains they run on. MANA is an ERC-20 token, while LAND is an ERC-721 protocol of the Ethereum blockchain. However, new projects will likely prefer the quicker and less fee-intensive Solana and Avalanche blockchains.


The StormGain Analytical Group
(a platform for trading, exchanging and safeguarding cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on December 01, 2021, 04:02:30 PM
Institutional Interest Is Shifting towards Altcoins

The growing interest in decentralised projects, the emergence of metaverses and the spread of NFTs have led to increased demand for altcoin smart contracts. Bitcoin retains its status as a store of value, but it can't compete in terms of efficiency with superfast blockchains. In November, the cryptocurrency market's capitalisation rose to a new historical record of $2.85 trillion, with Bitcoin's share down to a three-year low of 43%.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSkRbrMHUseiDbhNAqPA4BQnJxNhrYHChCCjUUBgMYe37BRcQngj4sJEioewNET1qTZUXp?format=match&mode=fit&width=640)

According to CryptoCompare, the aggregate sum of Bitcoin assets under management (AUM) has fallen by 9.5% to $48.7 billion. Ethereum's AUM grew by 5.4% to $16.6 billion, and all other altcoins rose by 10.4% to $2.6 billion. The discrepancy in numbers stems from a stronger correction in Bitcoin and increased investment in other cryptocurrencies.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYStNzs13dengm2de6LFtjmc4D1kZfjCfGaqTHcrtTJdenenQBpyqz8tWND4YXjkXcneFXk?format=match&mode=fit&width=640)

Institutional investors continue to grow their investment for the third month in a row. The average weekly inflow in Bitcoin has been at $94.4 million. Ethereum is in second with $24.4 million, and Cardano rounds out the Top 3 with $10.7 million. Meanwhile, the 21Shares Solana ETP fund shows the highest profit of 22%, while Bitcoin funds are finishing the month in negative territory.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSkMDiQvPFr2irU1cAFDgPRHnE8qBzHrSPkWB2p5oszTKN2VrVzRpwnurN9y8PJRYKp53C?format=match&mode=fit&width=640)

Bitcoin is leading in the total amount of investment and inflow of funds from institutional investors. However, interest in altcoins is continuing to strengthen. This is leading to the reduction of Bitcoin in global capitalisation and cryptocurrency funds' AUM.


The StormGain Analytical Group
(a platform for trading, exchanging and safeguarding cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on December 03, 2021, 03:23:12 PM
Ethereum 2.0 Is in Its Final Lap

The emergence of fast competitor blockchains, such as Solana and Avalanche, is urging Ethereum's developers to finish the proof-of-stake transition as soon as possible. All the necessary hard forks have already been done. The last step is merge testing.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSu27H31CjwzE5DPDKiiJNcoAFrHFq2E256XazqbSNjX6XQFeqXn3LNj6SqebhNykatZoL?format=match&mode=fit&width=640)

On 29 November, Ethereum developer Marius van der Wijden asked the community to help with testing the transition to the new protocol. Everyone from ordinary users to blockchain technology specialists is welcome to participate. Among the tasks are contract testing and chain-fork attempts during votes for invalid blocks. Wijden suggests sharing the findings online under the hashtag #TestingTheMerge and promises a drink of the finder's choice if they discover critical vulnerabilities.

Ethereum plans to abandon mining and make the final transition to proof-of-stake in Q1 or Q2 2022. However, the implementation of the deflationary mechanism in August and constant freezing of the coins by validators are already leading to a deficit in Ethereum's supply and price growth.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSujsRTcJ524HTVshGZEBwMv9yTmtacz8LLiW69UscArTijLv72LskBrMur2FXmCpYjGfG?format=match&mode=fit&width=640)

On 5 August, the EIP-1559 update was implemented. The base fee for the transaction gets burnt, and miners receive what is left on top as a tip. The rise in the number of transactions on the network has frequently led to more coins being burnt than produced in a day. Over 1 million ETH worth $5.1 billion has been burnt in almost four months.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSu7uNDeE3AJW3smBkTUt915tEdwoacRKkuXXWtqTXYZkfk1FDvmXHs5MdoYNxZFtGsKWn?format=match&mode=fit&width=640)

To get passive income on the new protocol, the validators have to stake their coins (32 ETH per validator). Today, 8.5 million ETH worth $20.3 billion have been staked, which is around 7% of the coin's entire supply.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSugwwsWPByyY38ybGfc4R1Jm5UKoPR4oAsnXBsZTCwZXiN59BanZ6WKCBt5G7pD317hvN?format=match&mode=fit&width=640)

The transition to the new protocol will provide the network with radically different speeds. If Ethereum currently processes less than 20 transactions per second (TPS), after the transition and the network's full deployment, the throughput will reach 50,000 TPS, and fees will drop from a mind-boggling $50 to mere cents for a single operation. On top of that, the deflationary mechanism will remain, and the actual emission could become negative. Anticipation of these changes is boosting investment interest in Ethereum and pushing its price to new highs.


The StormGain Analytical Group
(a platform for trading, exchanging and safeguarding cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on December 07, 2021, 04:06:25 PM
Charlie Munger compares crypto to the Dot-com Bubble on 3 December, Bitcoin then drops 26%

On 3 December, during the course of an investor conference in Australia, Warren Buffet's right-hand man and Vice President of Berkshire Hathaway, Charlie Munger, voiced his strong criticism of cryptocurrencies. He called the crypto market an even bigger bubble than dot-com stocks in the late 1990s.

The spread of personal computers and the development of internet technologies in the mid-90s led to the emergence of a large number of startups. As the market was only gaining momentum and investors didn't have a clear understanding of which projects had real potential, the startups had no problems finding funding. The Nasdaq tech index shot up like a rocket. In 2000, a saturation point came, with the sector's collapse following shortly after. Investors lost around $5 trillion, and the Nasdaq crashed 70% in six months. The majority of projects went bankrupt, while Amazon shares lost over 90% in the space of two years.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSg6n1p4fXcrdzePzr6Rp3prnFMPnHHDQF5c8dkVNeZ8EB1CfztJFg6onLDGmbP4P3n5rN?format=match&mode=fit&width=640)

Charlie Munger believes that cryptocurrencies are even more dangerous as they don't have any objective value. Speaking at the conference, he said, "The cryptocurrency market is even crazier than the Dot-com Boom...I wish that they had never been invented". After these comments, Bitcoin lost 26% in value over the span of two days.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSiK2gA83CsHTZ4z4EZ1wAYt4omgSy1Uo2z45wPUb6gvMS3vE6v2GA7tAtc6KhVgbx1ZoC?format=match&mode=fit&width=640)

Charlie Munger is a leading authority in the eyes of stock market investors, which is why his comments were able to impact cryptocurrency prices. But, in fact, the correction was the result of a whole chain of events: the Fed's intention to taper its stimulus sooner than expected, Congress's summoning of representatives from the biggest cryptocurrency exchanges to give testimony on 8 December and the increase in the amount of leverage permitted for Bitcoin purchases. When the price fell below its key support of $50,000, Stop Losses on many margin trades were triggered, setting off a chain reaction. As a consequence, traders lost $2.5 billion on leveraged trades over a 24-hour period.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSsbXPVQqMQNassTDtP8KETBdeYyE9h5zvKg5px4Bg5sEvDLFRSdgvf6Bqb5rtC5i4NC6a?format=match&mode=fit&width=640)

Meanwhile, Bitcoin is currently trading above where it was a year ago, while Ethereum is sitting at the level of its May 2021 highs. By the cryptocurrency market's standards, what we're seeing is a minor technical correction. After rebounding, BTC recorded a 16% decline for December.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYStHpWB6dJoUSf3u3n53wjptnvwAFcSLUTntmDpNmWcZTxpb2BJbgvVbqUjVfXPsnJmahc?format=match&mode=fit&width=640)

Warren Buffet and Charlie Munger were 78 and 84, respectively, when Bitcoin arrived on the scene. It could be that the crypto market is just too young for Berkshire Hathaway to take it seriously.


The StormGain Analytical Group
(a platform for trading, exchanging and safeguarding cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on December 08, 2021, 11:52:50 AM
Who's a good boy? Shiba Inu price jumps as Newegg officially accepts meme coin

Popular canine cryptocurrency Shiba Inu (SHIB) is wagging its tail after seeing its price go up 33% on Wednesday, with a little help from a friend. And this time, it's not Vitalik Buterin. The surprising rally came after news broke that consumer electronics retailer Newegg Commerce (NEGG) officially confirmed that it would accept Shiba Inu as a form of payment, just as the holiday shopping season gets underway.

A crypto-friendly computer store

You might remember Newegg from our recent post on whether to spend cryptocurrency during the recent Black Friday sales. Newegg is an online consumer electronics retailer that sells a variety of tech products, from high-end gaming PCs and components to small accessories.

Newegg became popular in the crypto community as a source of hardware for mining Bitcoin and other cryptocurrencies, and the e-commerce company appeared to return the appreciation by being one of the earliest stores to accept Bitcoin back in 2014. Other retailers, especially in the tech and gaming sectors, also experimented with crypto payments, but many found the market's volatility too much to cope with and pulled out. Newegg, on the other hand, has been consistently crypto-friendly. Earlier this year, it also added Litecoin (LTC) and Dogecoin (DOGE) as payment options.

Now Shiba Inu finds itself once more competing in a dogfight with Dogecoin on the electronics platform. Both coins are currently very hyped, thanks to backing from celebrities in the crypto community and the feeling that something should be done with the enthusiasm these dog-based meme coins generate from the public. Although these cryptos started as jokey references, Newegg is certainly taking them seriously, announcing its acceptance of Shiba Inu on America's largest billboard on 30 November.

What's next? Shiba Inu to the moon?

The boost from Newegg was good news for Shiba Inu, which bounced back after losing over a quarter of its value over the month of November. However, it's important to remember that the dog-themed coin is still only trading for a tiny fraction of a cent, so traders will need to move large amounts of SHIB to see significant profits.

Is Shiba Inu merely an expensive joke played with by the ultra-wealthy crypto celebrities? For now, it seems like SHIB doesn't have many concrete use cases that would give it real staying power in the market.

Being able to use it to buy electronics is a step in the right direction, and there are other projects on the horizon that could legitimise Shiba Inu and reward early investors. The creators of SHIB have teased a partnership with a well-known game developer, and there is growing speculation that the Shiba Inu crypto may play a role in the metaverse, a virtual reality environment that promises to connect gaming, e-commerce, and social media.

Trade SHIB on StormGain for maximum profit

The holiday season could be a critical time for SHIB's future, depending on whether more partnerships like this push the canine coin over the borderline from meme to a serious asset. Whether you back SHIB's potential or bet against it, you can find the best conditions for trading on StormGain, which offers a SHIB/USDT pair as well as the opportunity to trade SHIB/DOGE against each other. If you're not a StormGain client yet, sign up in just a few seconds to find out what the best crypto platform on the net can offer you.
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on December 09, 2021, 04:56:15 PM
Terra enters the Top 10 by capitalisation and Top 3 by DeFi preferences

Despite the cryptocurrency market's increased capitalisation, Bitcoin continues to lose its market share, losing ground to more practical solutions. Even though it has just entered the Top 10 by capitalisation, Terra's capitalisation is only $26 billion compared to Bitcoin's $955 billion. However, the project's goals are ambitious: to become the #1 payment and exchange method.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSedSBYR3jc2iedL9VkSH3RuBAYfrASbttqCNuZ9phjwHQTtkr4nyDz29qUxh7fsvKFtrr?format=match&mode=fit&width=640)

The problem with Bitcoin is its low bandwidth and high price volatility. For example, it is unsuitable for real estate transactions because, within a few days, the price of a property could potentially rise by 1.5 times due to a correction in the cryptocurrency's price. The same thing happens with fiat in developing countries, just for a slightly longer period of time. Terra is trying to solve all of these problems by creating a supranational currency, Terra SDR, which balances market volatility. Terra SDR is positioned as an analogue of the International Monetary Fund's Special Drawing Rights or a basket of currencies.

But first of all, Terra needs to ensure the integration of the existing financial system with decentralised blockchains. This means they need to create an efficient payment system with a high degree of security, instant conversion and low commissions. This is implemented through proprietary stablecoins pegged to the US dollar, euro, South Korean won, and even the IMF's SDR. In exchange for an atomic swap, conversions take place at market rates with zero commission.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYShZdr6W7RuGGn2sSHr9CmMXgECMRTJPQ5YS1rwo2jNLaN2jNA7SgoJWpn6MCmRwNxnoNN?format=match&mode=fit&width=640)

To support these mechanics, Terra uses a floating-rate currency called LUNA. The coin allows you to reward validators for carrying out transactions and provides the network with scalability and decentralisation. The algorithm for changing the money supply is responsible for the stability of the stablecoin rates. This avoids the risk of increased emission for selfish purposes, as was the case with Ripple, and the outflow of funds if the exchange rate of 1:1 is exceeded, as was the case with DAI on the Maker platform.

Terra's unique and practical Terra nature, as well as its good staking rewards with an average annual return of 7.2%, led to the blockchain reaching third place in terms of staked funds, displacing Solana and Avalanche.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYStDVNjThVLkMN9SEKN98s9qMrbWaD74DmESvsvVCjxF1HmuD2YQ1hw168A9tsv371NQcv?format=match&mode=fit&width=640)

Over the past six months, the value of LUNA has skyrocketed eight-fold, largely due to the rise in stablecoin usage. Among algorithmic stablecoins, UST came out on top with $8.4 billion in capitalisation. The rise of decentralised applications (dApps) and the need for 'independent' stablecoins suggest that LUNA's main growth is yet to come.


The StormGain Analytical Group
(a platform for trading, exchanging and safeguarding cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on December 13, 2021, 02:11:11 PM
Whales preparing for a Bitcoin sell-off

For major Bitcoin holders, including public mining companies that hold a large share, the end of the year is an excellent time to lock in some of their profit and improve their overall financial performance. After BTC fell from $57,000 to $42,000, the whales again increased the supply of Bitcoin on exchanges, preparing for another round of sell-offs.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSujrqKU7ForKuphVeXCrtjVfZFD54SjEPfncK25DVkTmydPQNt5vVCKJUUQYK8hU2bdaW?format=match&mode=fit&width=640)

The "whale exchange ratio" measures the ratio of the inflow and outflow of large sums in relation to the total inflow and outflow. In early December, the influx of large capital (coefficient 0.95) led to a 26% price correction. This trend's continuation portends a correction for Bitcoin from its current price level to $36,000.

Futures traders are less supportive of whale sentiment as the funding rate has returned from the negative zone. However, there is no need to speak of any optimism yet. Funding rates rise when bulls dominate leverage and, conversely, fall when bears dominate. Currently, this rate is 0.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSgwqesGh2NbEr3u7JafegBn1mUGsGrpST1hd7Po7WK8jUQQe2YcFUmPGcZ51Z5R5EKQgv?format=match&mode=fit&width=640)

The share of institutional investors is much lower in Ethereum, so the December sell-off affects this coin to a lesser extent. In November, the total volume of funds in investment funds with Bitcoin amounted to $48.7 billion. The figure with Ethereum was $16.6 billion.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSe6XSh2LzWstnydkvR6Dtnmx1cWnK33er33cdFyWfVhkFVTm44qCUE9gojSpzvRcGwvF8?format=match&mode=fit&width=640)

The quarterly futures premium for the March 2022 Ethereum contract is also outperforming Bitcoin, coming in at 2.9% and 2.6%, respectively. This confirms the higher appreciation of the altcoin's growth prospects over the next four months. In addition, unlike Bitcoin, Ethereum didn't experience much of a fall in price in November, which is when the cross-rate set a new three-year high.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYShe9ufeM49KZCFiuEcWnNu4sBvyRaqdnUTAtXNMnqDqzSejh6Cp9f44tD8fnVpi8wcpyc?format=match&mode=fit&width=640)

Whales are gearing up for the end of the year and are selling off some of their Bitcoin holdings, which could mean a new correction wave is on the horizon.


The StormGain Analytical Group
(a platform for trading, exchanging and safeguarding cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on December 15, 2021, 04:29:35 PM
Amazon invests in the fractional NFT market

NFTs make it easy to link copyrights to digital art, but some are too expensive for everyday people. This problem is solved by fractional NFTs, which divide the ownership of the asset into shares. The value of a share is proportional to its size in the total amount of ownership.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSj6VFoYU48bn5vns8vsvoJAhwy5nnSzHYDsxKfkU9tnnjbbET2KxgXagyAgPYr1nyGTUi?format=match&mode=fit&width=640)

It's thought that fractionalised NFTs will make collecting non-fungible assets more accessible to ordinary users. Currently, the size of the fractional NFT market is estimated to be at $213 million. The most valuable is The Doge NFT, with a market cap of $132 million and a fractionalised price of less than one cent.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYStDKz1hk7fywqPhGycBttAhwU2AXFUonGJ7eTU6aanX5kRww7gaiWdczmBWbPTxj9e5Vx?format=match&mode=fit&width=640)

The most famous fractional NFT platforms are Otis, Unicly, Fractional and Daofi. Last week, WAX blockchain, which is responsible for the startup Dibbs' technical support, tweeted the news about Amazon joining the project. The amount invested by the retail behemoth and the terms of its participation were not disclosed.

Dibbs makes it possible to create digital counterparts of physical sports cards. The client sends the original to the company to confirm ownership and guarantee the transparency of the transaction, after which the client issues a solid or fractional NFT. Tokens are exchanged within the platform. In the event that a 100% stake is reached, the new owner can receive the original or reissue the NFT.

Fractional NFTs tend to significantly increase the value of a digital object, which is why holders of famous collectable cards are increasingly resorting to fractionalisation. Dibbs takes a 2.9% commission per transaction.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSiNPrSkhjSCrEFh7D9wESKyntVnGSNURGaPpnpuEDKczZ8hCDQ4xYv6v9neX21RyEQwsL?format=match&mode=fit&width=640)

This year, the NFT market has grown nearly ten-fold, and its volume now exceeds $2 billion. Its volume could reach $10 billion next year, as more and more companies find NFT interesting for investments. Amongst blockchains, Ethereum continues to lead both in the number of NFT collections, with daily volume exceeding $75 million.


The StormGain Analytical Group
(a platform for trading, exchanging and safeguarding cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on December 16, 2021, 04:00:24 PM
Stepping into the same river twice: Tesla to accept Dogecoin for payments

Elon Musk already flirted with cryptocurrencies at the beginning of the year, allowing the purchase of cars for Bitcoin. The experiment ended after a month and a half, with the deciding factor being Bitcoin's environmental unfriendliness. Now the company is incorporating Dogecoin into its payment system, but the choice of cryptocurrency has caused confusion among professional community members.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYStwZH5RczdzSiJTjjq3RhDGNiebKhWcgxxAXRWJzhL3PJbmuBMLFzxQ9smsHqAzedz1nn?format=match&mode=fit&width=640)

Elon Musk is known as the godfather of Dogecoin or the "Dogefather", given his frequent mentions and expressions of admiration for the cryptocurrency. His tweets have often resulted in the coin's value doubling. However, as time has gone on, the power of his statements has weakened.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSepcp54X9NVVcoQ4pEThhnH7VwXzKV3z5t72oSAqZpC7oasZLhPSza9zx6Nxk9MK7e2bg?format=match&mode=fit&width=640)

The reason for this is Elon Musk's inconsistency. When he abandoned Bitcoin, the Tesla chief played heavily on its poor environmental record. However, Dogecoin works on the same proof-of-work principle and requires miners' participation. According to rough estimates, the annual electricity consumption of the Dogecoin network is 3 GWh, which corresponds to the total energy consumption of countries such as Montenegro, Jamaica or Yemen.

In simple terms, Musk traded something bad for something worse. He claims Dogecoin's main advantages are lower commissions ($0.40 versus $2 for Bitcoin at the time of writing). However, the meme cryptocurrency has higher volatility and is less secure as a repository of value.

One of Dogecoin's developers, Jackson Palmer, called Musk a "narcissistic swindler" in the spring for his wanton bias and thirst for hype. Former SEC analyst Mark Powers urged the regulator to investigate Musk for abuse of confidence. Elon Musk has also promoted other canine-themed meme cryptocurrencies, which Powers believes is leading to multi-million dollar losses amongst his followers.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYScaK5QNe9M87qUjvoxHNKuK92BvchZtdLLearn8ccCqLisg4iDVRRpFBh9Nv219MYWozE?format=match&mode=fit&width=640)

But, apparently, the crypto market has already developed immunity to the "Dogfather's" antics: this time around, most of the price increase resulting from Musk's news had been cancelled out 24 hours later.


The StormGain Analytical Group
(a platform for trading, exchanging and safeguarding cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on December 17, 2021, 12:32:00 PM
StormGain Holiday Giveaway: win fantastic prizes, including fast mining and free crypto

The holiday season is just around the corner, and as we prepare to ring in the New Year, StormGain would like to extend our best wishes of happiness, prosperity, and good cheer to all our valued clients. Of course, that also includes an exciting new opportunity to win extra bonuses and coins on your favourite crypto platform!

Upgrade your StormGain account, mine Bitcoin even faster!

Here's how it works. Starting Monday, 6 December, and running until Sunday, 9 January, you can get tickets for a series of four prize draws on StormGain. The winners of these draws will receive a free StormGain loyalty programme status upgrade. As a reminder, the benefits of the loyalty programme include bonus funds on your deposits, lower commissions, and, most importantly, increased StormGain Bitcoin cloud miner speed to earn free BTC! Would you like to experience how it feels to mine Bitcoin at blistering speeds, courtesy of StormGain’s integrated cloud miner? Here’s your chance!

As an extra-juicy reward, the final draw will also award free cryptocurrency as top prizes to a select few!

How to enter the draw?

To get a ticket in the prize draw, all you have to do is make a deposit of 100 USDT and have a trading volume of at least 50K USDT in your account. Multiple deposits can get you multiple tickets with multiple chances to win.

The dates and number of places for each draw are as follows:

- Draw 1 (10 December) - 50 places
- Draw 2 (17 December) - 100 places
- Draw 3 (24 December) - 150 places
- Draw 4 (10 January) - 200 places (+5 places for crypto prizes)
 
Get free BTC, ETH, BCH, LTC and ZEC in our biggest ever crypto giveaway!

Crypto prizes, you say? That's right! We're giving away free crypto as part of the final draw on 10 January. Last year, StormGain gave away one BTC to the lucky winner of our New Year's draw. This time, we're upping the ante and have five different crypto coins up for grabs. Five winners from the final draw will receive one of the following cryptocurrencies:

- Bitcoin (BTC), current value $58,000
- Ether (ETH), current value $4682
- Bitcoin Cash (BCH), current value $582
- Litecoin (LTC), current value $216
- ZCASH (ZEC), current value $227

The prizes are in real crypto, not in USDT equivalent, so you can trade, hold or withdraw your prize coin as you see fit. Only one of each cryptocurrency will be awarded, and only one account status upgrade will be awarded per user.

Celebrate the holidays in style with StormGain

We all like to give and get a little extra every holiday season, so why not play and go for the prizes over the next few weeks? Whether you're a new user or an active client, the rules are the same. If you're not yet a StormGain client, make sure to register in time before the draw to have your chance at the best start to the most versatile crypto platform on the market!


JOIN NOW (https://promo.stormgain.com/lp/en-en/new-year-lottery/ (https://promo.stormgain.com/lp/en-en/new-year-lottery/))
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on December 21, 2021, 03:49:41 PM
'Small fish' buy the Bitcoin dip

Activity for whales (balance > 1,000 BTC) and small investors (balance < 1 BTC) differs depending on market conditions. For example, in March 2020 and May 2021, whales replenished their stocks after a significant correction. At the same time, small fry continued to dispose of their coins, fearing that the index was off the charts. Now the picture is reversed: whales are locking in their annual profit, while the small fry are counting on a repeat of last year's winter rally.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSgvPsdeSsPt3U8LfPytSJeCFk4vXGH5at3271MwjV9vtqLiM8HZ5UjHpm7cBgsu6HVo7L?format=match&mode=fit&width=640)

On the chart above, blue dots mark prices at which whales reduced their holdings and small fry bought Bitcoin. This trend has been on the rise for the last month and a half and may be exacerbated by central banks' reaction to rising inflation.

In the US, consumer prices rose by 6.8%, while manufacturer selling prices jumped 9.6%. This forced the Fed to cut its monetary stimulus programme in half from $120 billion to $60 billion. For next year, committee members envisage three federal funds rate hikes. Loans will become more expensive, and the dollar will have a reason to strengthen. This will reduce the appetite for risk and lead to large capital outflows. The Bitcoin sell-off has already led to an increase in the turnover of stablecoins. A similar situation was recorded in May of this year.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSkYhRoa7qX7z5qRiNYZY3jf1moJFRWKKjgk6e9YBYqjaxAmGNrbJwJGo5QVGdPnEDnZfc?format=match&mode=fit&width=640)

However, the CEO of Galaxy Digital Holdings, Micheal Novogratz, believes that BTC will not fall below $42,000 due to the fact that cryptocurrencies are only at the beginning of their introduction into the modern financial system.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSj542rWyWS9eQUgQaeoJFgmTASd3XEKH74YXtsWMeirR1S9NnDgajZykGYZSP3ER34eni?format=match&mode=fit&width=640)

The same opinion is held by MicroStrategy (the largest public holder of Bitcoin), which continues to increase its holding. Last week, the company bought another 1434 BTC, increasing its reserves to 122,478 BTC. Its head Michael Saylor is one of Bitcoin's most ardent fans, calling the cryptocurrency the best way to save money in the 21st century. In its time, MicroStrategy has spent $3.7 billion on purchases, while the current value of the portfolio stands at $5.8 billion.


The StormGain Analytical Group
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on December 22, 2021, 01:59:44 PM
Solana breaks into the Top 5 by market cap

At a time when Ethereum is currently transitioning towards a faster protocol, other Layer 1 blockchains are expanding their presence and chipping away at Ethereum's share of the smart contract market. Early in the year, Ethereum was the undisputed leader of the DeFi blocked funds market, with a share of 97%. Now, however, this has shrunk to 63%.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSrrcfMhyDv2fHaKtfPFJwVuWNvqWEH7tKhG5LZMPfeuyxDuA9VTAAqqQ9fRTgFEiefnJS?format=match&mode=fit&width=640)

Solana has since bitten off 5% of the total DeFi market pie to take second place in this space. Meanwhile, the second-place NFT platform by cash turnover with $7.5 million is also Solana-based. Over the course of October and November, Magic Eden caught up with OpenSea in terms of the total number of transactions, despite trailing them significantly in terms of the number of users and turnover. These heights were reached just four months after Solana began to release its own non-fungible tokens.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSkSZcJXkXSzF6w5hDpN5YJks2kJjz93PaxjNFmNadrxYkQuCqa2KBhBCaFZXheDNJmBLa?format=match&mode=fit&width=640)

Solana's fast transaction speeds (currently 2887 TPS), low commission ($0.00025) and decent level of decentralisation (1325 nodes) are significant draws for investors. As such, Solana Labs has managed to attract $314 million worth of venture investments for closed token sales, while CEO Anatoly Yakovenko has set a key target of 1 billion users. Proof of a high level of interest from institutional investors can also be found in Solana's current position in terms of open futures interest, with SOL futures currently sitting in third place with $860 million in volume.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSj6CipwRrXzLSht3BHvoVDJyqHGW8hvTdP26cp3UrynCRYiPKCn2TLkXA2u1NpmDpfyRx?format=match&mode=fit&width=640)

Investor interest in the project has catapulted Solana into fifth place in the cryptocurrency rankings with a market cap of $55 billion. However, if the leaderboard was adjusted to include only independent blockchains with smart contract support, Solana would come in just behind Ethereum.

According to figures for November, SOL was one of the few coins that rose during the month. Over the last seven days, it has been the only member of the Top 5 to post positive results (stablecoins excepted). The blockchain periodically experiences problems due to DDoS attacks, leading to transaction hold-ups and price corrections. However, the project is still young, and it needs time to overcome such teething problems.


StormGain Analytics Department
(cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on December 23, 2021, 04:55:32 PM
UST: the number one decentralised stablecoin

The top three stablecoins by market cap consist of the centralised coins Tether, USDC and Binance USD. "Centralised" means that a single company is responsible the issue of tokens. This entails specific risks for both investors and the industry as a whole.

Tether, for example, pledged that it would hold a corresponding amount of US dollars on its bank accounts for every USDT it issues, thus ensuring liquidity is maintained. However, following an investigation by the State of New York Attorney General's, it came to light that USDT is not "fully backed by dollar reserves", but in fact supplemented by "crypto assets and credit income". Then, in March, a court-ordered audit revealed that around half of all USDT was actually backed by undisclosed debt obligations. In other words, the tokens issued by Tether in fact go to fund other crypto companies. So, if a critical mass of users decided to exchange their Tether for USD all at the same time, the market would not have enough liquidity to meet demand. This could then threaten to destabilise the 1:1 exchange rate, bringing with it a raft of consequences.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYShaT8eK7X2uujRSCWvdTiqXgSjhH4RRfzspi79cEFcm9qvZeYvhqGur8stxLHqW96ujft?format=match&mode=fit&width=640)

If you wish to avoid the risk of such an abuse of trust, you can make the move to decentralised stablecoins whose issue is controlled by an algorithm and not in any way influenced by the issuer. This month, Terra's UST project overtook Maker's DAI to take first place among these stablecoins.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSg7uJisq1qv5NbSYBTDcyhZtH2mPSYEESHnnRuziwSeXqdS7Jme2LC6ojiD7AcUuRUHWW?format=match&mode=fit&width=640)

The algorithm responsible for controlling the money supply maintains a 1:1 exchange rate between UST and USD using its own LUNA coin as a floating peg. To put it in simple terms, when there is a surplus of UST supply, a portion of LUNA is burned. When there is a deficit of UST, validator compensation is raised. The strong potential of this project saw Luna rise 1,500 times this year. Meanwhile, it even managed to outperform Binance in the DeFi sector, trailing only to Ethereum.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSrurd84cbu1xjL3v7dpfus2fj8VqM3fzeMPRuxQoiRAFWwLp3M7pGnQ6pZHZSeFMwzbSn?format=match&mode=fit&width=640)

The Terra project has ambitious goals and plans to become a leading intermediary blockchain between traditional finance and cryptocurrencies. The spread of decentralised apps and the predicted metaverse boom will spur LUNA on to continued growth in 2022, while UST could enter the TOP-3 stablecoins by market capitalisation.


StormGain analytics team
(cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on December 24, 2021, 11:21:40 AM
Crypto digest 2021: The top trends of 2021 and beyond

Cryptocurrency and the blockchain industry have enjoyed increased adoption, media attention, and value in 2021. Looking back on the year, we can point to the emergence of several exciting trends and emerging patterns in the crypto world. Could they tell us anything about what's to come in 2022? Here's what shook the crypto community just this past year.

New all-time highs

Hodlers enjoyed several high points for some of the biggest cryptocurrencies this year. Bitcoin (BTC) hit new all-time highs in quick succession as it grew over 200% over the year, reaching $67,000 in October and $69,000 in November.

Ethereum (ETH) also reached several all-time highs, capping at $4,891.70 in November. Along with these leading cryptos, many altcoins also enjoyed boosts in value, which have raised the bar for future valuations.

NFTs go mainstream

Non-fungible tokens were not invented in 2021, but this was the year they became part of the public discourse. The standout event was the sale of the NFT representing Everydays: The First 5000 Days by artist Mike Winkelman, AKA beeple, for $69 million at the renowned Christie's auction house in March.

This historic sale spurred a new interest in NFTs as investments and boosted the likes of CryptoPunks, CryptoKitties, Bored Ape and more. Now, all kinds of brands — whether in art, music, sports, gaming or other sectors — are creating and selling NFTs in a thriving marketplace. Many companies, especially the big gaming and entertainment media firms, are just getting into NFTs now, so 2022 will likely see more NFTs tied into mainstream entertainment.

SHIB and DOGE

How far can you take a joke? All the way to the moon, it seems! Thanks to the promotion of Elon Musk, the self-labelled 'dogefather', Dogecoin (DOGE) jumped from an obscure meme coin to a serious contender in the crypto space. Its runaway success inspired a wave of canine coins, with Shiba Inu (SHIB) being the most notable. SHIB surprised many by shooting up into the top 12 cryptos by market cap and reaching a valuation of $26 billion.

Although these meme coins started out as jokes, their new popularity has led to investors and companies backing the cryptos, such as Newegg accepting payment in SHIB. In 2022, these funny meme coins could actually be adopted for serious use cases.

Environmental awareness

Cryptocurrency's popularity and increased adoption have also led to greater awareness of its environmental footprint. Ecological concerns have been raised about the practices of many nations and industries across the world, and although crypto production was previously too small-scale to be of much import, the energy cost of mining Bitcoin has been a popular topic in the mainstream media throughout 2021.

The year also saw the formation of the Crypto Climate Accord, backed by major players in the blockchain industry. The future of cryptocurrency may well be marked by efforts for less energy-intensive mining processes, such as the cloud mining feature you can take advantage of in StormGain.

Government intervention

As cryptocurrency and blockchain networks become more popular, governments were always going to step in at some point, regulating either in support of or against cryptocurrencies in their jurisdiction. China probably had the biggest impact on crypto in 2021. The country banned crypto mining this year, causing a drop in the market as many large-scale mining operations shut down or relocated. On the other hand, this can also be seen as paving the way for the Digital Yuan, China's CBDC, that could prove a very influential centralised digital currency in the near future.

The year 2021 also saw the government of El Salvador wholeheartedly embrace Bitcoin. The South American country declared BTC to be legal tender in September, creating an official national crypto wallet and distributing $30 worth of Bitcoin to individuals in an effort to promote adoption. At the time of writing, El Salvador has purchased 1,981 BTC, with president Nayib Bukele proudly ‘buying the dip' along with many other crypto traders.

The beginning of the metaverse

The metaverse is the hot new buzzword in the tech industry, especially since Facebook rebranded as Meta. These virtual worlds will combine elements of VR, video games, social media and e-commerce, and they present exciting opportunities for cryptocurrency such as electronic cash for purchasing virtual items, NFTs to prove authenticity, DeFi apps for virtual economies and more.

So, will we all be buying up land in virtual reality next year and spending crypto on new clothes for our metaverse avatars? Maybe not in 2022, but the groundwork is being laid for something very exciting, and early adopters who back the right projects will be in a good position in the years to come. Metaverse tokens such as Axie Infinity (AXS) and Enjin Coin (ENJ) are already popular, but next year will likely see new metaverse-focused blockchain projects and coins that could prove interesting investments.

What's coming in 2022?

What can we expect for crypto going into next year? The ongoing situation with COVID-19 and its economic effects seem likely to uphold the tendency for BTC to serve as a haven against fiat currency devaluation. The trend toward increased adoption by institutions and retail investors also appears likely to continue as DeFi and metaverse projects mature.

CBDCs could also be released and legitimised in 2022, not just in China or the Caribbean but also in Europe. Sweden has announced the pilot program for its e-krona, set to roll out over the next five years.

All in all, 2022 looks as though it will be an exciting and dynamic year for crypto. The market could become very competitive, presenting interesting opportunities for traders and investors. One thing's for sure: StormGain will remain the top platform for all your crypto needs, bringing you the best perks and bonuses in the business to maximise your gains. Keep an eye on the StormGain page to avoid missing out on upcoming promotions to earn even more! If you're not a StormGain user yet, sign up here to join the all-in-one crypto platform in just a few seconds.
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on December 27, 2021, 05:03:46 PM
Bitcoin hash rate at an all-time high as miners continue to up their capacities

Up until May, China had been responsible for half of the entire global Bitcoin hash rate. Following the PRC's expulsion of miners, the network's capacities fell by 50%. After that, the lower mining difficulty and increased reward from one terahash led to an explosion of demand in the ASICs market.

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This total redistribution saw China lose all of its share of the mining market as the US took the top spot (34%), with Kazakhstan (13.8%) and Russia (11.9%) moving into second and third place, respectively. The bulk of second-hand Chinese gear made its way to neighbouring countries, while US-based companies put in scores of new equipment orders using funds from IPOs and loan capital. This arms race helped bring about the full recovery of Bitcoin's computational capacities over the course of the last seven months.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSsaZvYqRaafk7KaUfvLe4xpUD8sENUacpHbN9FjSECcWFkyvYz8zkzvAtJuySVQMWZ7eW?format=match&mode=fit&width=640)

On the one hand, attracting external capital reduces one's own financial risk. On the other, however, it requires companies to constantly increase their computational capacities in order to remain attractive to investors. Thus, on 23 December, Marathon Digital announced a record order for a farm of the latest s19 XP ASICs from Bitmain. Their aim is to increase their current hash rate by 600% to 23 EH/s by the start of 2023 to become the biggest publicly traded mining firm in the world. This news saw the companies shares rise by 12% in the space of just one day.

In order to finance its order, a record-setter in terms of the amount, Marathon Digital took out a $100 million loan from Silvergate Bank in October. The company has already purchased 35,419 ASICs this year, while the total amount is expected to rise to 199,000 by early 2023.

Despite the correction over the last two months, Bitcoin still looks like an attractive investment. Meanwhile, the increase in computational capacities will not lead to a supply surplus since mining difficulty is also on the rise.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSfQnS3EDYAfJgag6BMAPJ5FGTuXKNA8yVDT19SGvPerxeQtjFVYiK4ehXGDENe1woGttv?format=match&mode=fit&width=640)

Analytics agency Glassnode notes that, of late, about 100,000 BTC per month is being sent to cold wallets and low-activity accounts.

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The accumulation of Bitcoin generally tends to foreshadow a fresh bullish cycle. If we see all-time highs revisited, this would certainly whet publicly traded mining companies' risk appetite.


StormGain analytics group
(cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on December 28, 2021, 01:46:18 PM
Into the metaverse: a guide to crypto virtuality

The metaverse is entering mainstream vocabulary in 2021, but it's actually been around for a while. Sci-fi author Neal Stephenson first coined the term 'metaverse' in his 1992 novel Snow Crash. The novel referred to a shared virtual reality world that characters used to escape the limitations of the rather dystopian techno-capitalist future they existed in. In the metaverse, one could have different bodies and special powers like in a video game, but also own virtual territory, run businesses, play games, work jobs and also engage in conflict through espionage, sabotage or outright battle.

Snow Crash was a tongue-in-cheek riff on cyberpunk literature, which explores the effect of technology on our social relations. Cyberpunk speculated on things such as realistic virtual worlds, cybernetic augmentations to the human body, advanced AI, etc. While it often took place in dystopian settings, the futuristic technology imagined by the writers inspired many creators in the tech industry who went on to work on the Internet and social media platforms, games, VR and, of course, crypto.

As major tech platforms such as Meta (formerly Facebook), Epic Games and others announce their plan to take the metaverse mainstream, it's no surprise that blockchain projects are eager to show off their use case in the metaverse. With their expertise in creating digital items of value and automated transactions, blockchains could power the economy of these virtual worlds.

Where does crypto come into this?

One of cryptocurrency's central problems is that it came into a world already controlled by centralised institutional powers. The territory in which people live is controlled by different states that maintain their own fiat currencies and financial institutions. Bitcoin (BTC) was originally created to be a digital currency, as widely usable as cash, but in practice, opportunities to purchase goods and services with BTC remain limited, and it is mainly judged by its dollar value. Even with some countries introducing their own digital currencies, these are still centralised fiat currencies.

Likewise, cryptocurrencies such as Ethereum (ETH), Solana (SOL) and others that attempt to present blockchain versions of existing centralised finance services run into the problem that the latter are going to hold on to their territory, even if it means adopting some blockchain innovations on the way. In a blockchain-based metaverse, however, DeFi could become the standard.

While NFTs have shown how valuable certificates corresponding to digital objects can be, many NFTs around today are still pieces of digital media, i.e., images, video, audio files, etc., without much utility in real life. But what if they could also represent digital objects that had use value in a digital world? Your house, your clothes, even your body in the metaverse could be an NFT.

Digital currency for digital worlds

The metaverse would essentially be the next level of the Internet, in which we ditch interaction via computer screens and keyboards and more naturally interact directly via our senses. It should bring together the worlds of social media, gaming, e-commerce and crypto in virtual worlds, with the exciting potential to make new experiences available to us.

The virtual world of the metaverse represents uncharted territory in which crypto can establish itself without the restriction of having to operate under the traditional power structure of states and banks in the physical world. With our avatars in the metaverse potentially moving and working in virtual land owned by blockchain companies, using cryptocurrencies as cash and NFTs to verify ownership of objects, this brings up interesting use cases for a whole range of tokens that can integrate themselves into such a system.

Metaverse crypto to look out for

Blockchain companies have been involved in virtual reality for some time now. Platforms such as Decentraland, Sandbox and Somnium Space have been creating social platforms in which people can interact, buy digital real estate, purchase and use virtual objects and conduct business. The metaverse is currently a hot trend in the crypto community, with many projects jumping on the bandwagon, but there are some tokens standing out from the crowd. Many of them use the 'play-to-earn' model, in which activities in metaverse games can reward players with cryptocurrency.

Axie Infinity (AXS) is one of the most popular metaverse tokens right now. Axie Infinity itself is a blockchain-based game in which players breed, battle and trade monsters called Axies, in a similar concept to Pokémon. The AXS currency functions as a governance token, giving the players control over the direction of the game's development.

Enjin Coin (ENJ) is the currency of the Enjin Network, a social gaming platform that allows its users (as of the time of writing, about 20 million) to create websites and clans, chat and host virtual item stores. The virtual items are NFTs valued in ENJ that users can trade freely with each other or liquidate to receive their value in ENJ.

Shiba Inu (SHIB) announced a partnership with an AAA game studio along with former Activision VP William Volk for the development of mobile games and its own metaverse. SHIB's momentum and high-profile partners definitely make it one to watch.

How close are we to the metaverse, really? Should you invest?

So, should we all be putting down some money for our metaverse real estate right now? As is always the case with emerging technology, an investment in metaverse projects will be a bet on future events. Will the competing metaverses be interoperable? If not, which projects are likely to succeed? How plausible is their product? How sustainable is it? These are the questions you need to ask yourself when looking to invest in the metaverse. Online trading games and digital land development are just the beginning. If you can pick a winner (or invest in a diverse group to increase your chances), tokens that become widely used in metaverse activities could become very profitable.

Trade metaverse tokens and more on StormGain

If you're looking to trade or invest in popular metaverse cryptocurrencies, StormGain offers the best conditions for making a profit on the market. Trade SHIB, AXS, ENJ and more with high leverage, low commissions and fantastic perks. New to StormGain? Sign up in just a few seconds and find out what the world's best crypto platform can do for you!
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on December 29, 2021, 02:41:15 PM
2021's Top 3 crypto projects

This past year was full of new developments in the crypto space: the success of some projects was impacted by media personalities, while others relied on the unique strengths of their products, and others still simply failed to live up to expectations. Below you'll find a leaderboard put together by Cointelegraph that ranks projects by their market cap and popularity in the crypto community.

The top three are as follows: Dogecoin, Solana and Terra

Early in the year, Dogecoin traded at $0.004. At its height, its price reached $0.73. Despite the significant correction from May highs, its annual gains remain some of the most impressive ever at more than 4500%. The biggest driver of Doge's growth was Elon Musk's tweets in support of the coin, with the Tesla founder even earning himself the moniker "Dogefather" as a result.

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In the space of just a year, Solana rose from a price of $1.50 to its current dizzying heights of $199, recording a far from the run-of-the-mill gain of 13,300%. This project is perhaps the closest thing to an "Ethereum killer" on the market, combining smart contract support with high speeds and low commission. Within a mere couple of months after its launch, SOL-based NFT platform Magic Eden managed to overtake OpenSea (Ethereum) in terms of transactions completed. The possibilities this blockchain provides have caught the eye of some major investors. At a closed summer token sale, its developers were able to garner $314 million in investments.

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Terra is a project with the ambitious goal of creating a bridge between traditional financial markets and the world of cryptocurrencies. Its stablecoin (UST) became one of the most in-demand decentralised coins in existence, while its internal token, LUNA, is up 8500% YTD. In December, Terra overtook Binance smart chain for second place in the DeFi sector, while UST was listed just last week on both Binance and Huobi.

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Outsiders

If we exclude projects with a dubious reputation, then the worst performer of the year was Dfinity. The coin's management has set itself the target of creating an "internet computer" that enables users to avoid hosting and store their code directly on the "open-access internet". Dfinity had its ICO on 7 May on the Binance and Coinbase exchanges. Within the span of just a few days, it reached a peak of $630 but then fell to $0.03, the same price it went for at its closed funding rounds in 2017.

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According to some estimates, early-bird investors have already bought up around one-quarter of its entire supply at an average price of less than one dollar per coin. Other analysts blame the project's management for dumping coins on the exchange. Indeed, according to data from Arkham, Dfinity moved 18 million tokens worth a total of $3.6 billion to exchanges in May and June. Whatever the cause, this oversupply led to a 95% price drop.


StormGain analytics group
(cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on December 30, 2021, 03:00:49 PM
Season's Greetings from StormGain! Take a look back on the year with us

It's that time of the year! Every one of us at StormGain would like to extend our sincere and heartfelt holiday greetings to all our valued clients. Whether you're a long-standing client or a new trader, StormGain is proud to have had you along on the journey throughout 2021.

The year has seen many exciting developments in the crypto market, and to provide you with the best opportunities possible, StormGain rolled out a number of exciting features, hit new milestones and won new awards.

None of this would have been possible without our beloved customers, and so, in this time of reflection and gratitude, we invite you to look back with us and celebrate the achievements of the past year. Here are some of StormGain's most significant 2021 moments:

One million users

In October 2021, StormGain surpassed an important milestone: over 1 million active users on the platform! StormGain launched in late 2019 as a new contender in the crypto space, and to reach so many clients worldwide in such little time is a testament to our quality of service and the passion of our community. To each and every user, we salute you!

Ultimate Fintech award

As well as picking up users, StormGain has also collected new awards for its trophy cabinet over the last year. In 2021, StormGain was proud to take home the coveted Best Cryptocurrency Broker award from Ultimate Fintech, an agency that aims to provide a benchmark of quality for the entire global finance industry.

Crypto options

StormGain's mission is to continue to be the best all-in-one crypto platform for everyone. To that end, new types of trading instruments were introduced to the platform this year, including crypto options. StormGain clients can now place Call and Put option orders based on the potential future price of the cryptocurrency, trading on the price changes of a digital asset without having to actually own or hold the asset itself. Crypto options are perfect for traders whose strategy is to profit from price volatility.

Tokenised stocks

Another innovative trading instrument introduced to StormGain in 2021 was tokenised stocks. StormGain users can trade in these company shares and commodities tied to crypto tokens, both to manage risk in crypto trading and to get a foot in the stock market. Now you can trade precious metals and company shares right in your crypto portfolio!

Crypto indices

It's common knowledge in trading that a diverse portfolio is key to success. That's why stock indices (e.g., the S& P 500 or the Dow Jones) is such a popular investment instrument. In 2021, StormGain made diversification easier by introducing crypto indices, each one being a consolidation of 3, 5 or 10 different cryptos, designed to offer a safer investment in the market performance of a whole group of cryptocurrencies rather than a single coin.

Crypto market report

Since launching almost three years ago, StormGain has assembled a team of experts in both the financial and blockchain technology spheres and applied this expertise, along with the experience of the platform, to an analysis of the entire crypto market. The latest result of these efforts was StormGain's Crypto Research 3.0, released in July 2021. This nearly 30,000-word report is packed with useful information and analysis to guide all of our users in their goals to understand the crypto market and profit from it.

New altcoins

Bitcoin (BTC) has continued to hit new all-time highs in recent years, but even more remarkable in 2021 was the success of various altcoins. Blockchain technology is always innovating and producing promising new coins, and StormGain is committed to making the best of them available to our users. This year, the number of altcoins on StormGain grew to over 50 coins, including metaverse tokens such as Axie Infinity (AXS) and Enjin Coin (ENJ), as well as the ascended meme coins Shiba Inu (SHIB) and Dogecoin (DOGE).

Islamic accounts

StormGain is proud to count people from all over the world as part of its client base. As part of our mission to make crypto trading easy for everyone, we introduced Islamic trading accounts in 2021. The StormGain Islamic account is swap-free and doesn't incur interest or any rollover commissions. This allows Muslim users to invest in the cryptocurrency market, resting assured that they're upholding their religious convictions.

Profit-sharing

It might be the worst feeling in the world to lose money on a trade and then have the broker take even more money away via commissions. It's just so unfair. But fairness is one of StormGain's most critical values. That's why we introduced a feature in 2021 to make crypto trading fairer for everyone. Now, commissions on the StormGain platform only apply to profitable trades.

Demo contests

Cryptocurrency trading can be intimidating to newcomers, but practice makes perfect! StormGain regularly offers tournaments and contests to engage our community and give them the chance to earn extra perks and rewards. In February 2021, we challenged users to see who could make the most profit in their StormGain demo account, where everyone can try their boldest strategies in a simulated environment. The top 20 winners will see their StormGain Bitcoin miner speeds supercharged up to the highest levels, just as if they had ranked up to the top tiers of the StormGain loyalty programme. All participants gained the valuable experience of testing their trading tactics and seeing how they measured up against other community members in real market conditions.

What's next?

It's been an exciting year for StormGain, but there is more to come in the year ahead. Our New Year Giveaway with free crypto prizes is still ongoing, and it's not too late to sign up and participate!

We wish all our clients a Merry Christmas and a Happy New Year! Don't forget to follow this page and our official Facebook and Instagram channel for news of upcoming promotions, features, contests and more in 2022!
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on January 11, 2022, 02:55:47 PM
Internet shutdown smashes Kazakh mining operations

Rising energy prices for the general public led to huge protests and civil unrest in Kazakhstan. In a bid to reduce social tensions, Kazakhtelekom restricted internet access on 5 January, leading to a decline in the number of connections to 2% by midday.

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The lack of a stable internet connection hit miners hard, with the Bitcoin network's capacity falling by 13.4% to 177 exahash/second.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSjq5uQDtc11Kjgvg8rPR9CmM1BnTPNf1WvyQGJgtRaN6vPrzPZmpinR9qmMWK62MGchmg?format=match&mode=fit&width=640)

Last year, Kazakhstan moved up to second place in terms of Bitcoin mining following Chinese regulators' ban on any transactions involving cryptocurrencies and their classification of all coin mining activities as undesirable. The lion's share of Chinese farms moved operations to Kazakhstan due to its proximity, low electricity costs, and loyal support for mining.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSmAx99HE5vREzdMhVkWnN9B7JiJtLRcSkQxdD6PAcm6PrPQVZdZtS6G8cibPqmXuW4X4z?format=match&mode=fit&width=640)

Beyond the temporary shutdown of the second-largest player in the mining market, the Fed's decision to accelerate its monetary tightening continues to weigh on BTC. On 5 January, the minutes from the Fed's latest meeting were published. They confirmed that the regulator expects to raise its key interest rates three times in 2022, while also potentially reducing its balance sheet. If taken, these measures could restrict inflation growth and lead to long-term strengthening of the dollar.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSsZuV2NBo3hu6nVSXcyo6hTSJm5SG844Fh9AMwYsKG9oYBHYZSK2yG6hMenyXYUWeEbyx?format=match&mode=fit&width=640)

However, Galaxy Digital chief Mike Novogratz believes that the $38,000-$42,000 range is a key support for Bitcoin. Institutional investors have been expecting a correction since November 2021 and are ready to mobilise to buy crypto. The fear and greed index, which has dropped to lows unseen since the summer of 2021, would seem to corroborate this point of view.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSiPiCSJd2ipt2moughzfAApUgL3rJxbCemK2qycdoREcuk1Q4EwBQriCxSVEu1kyFQrKx?format=match&mode=fit&width=640)

The internet switch-off in Kazakhstan will most likely be temporary, and the situation should normalise in the near future. As for the Fed, inflation is currently outstripping both the regulator's forecasts and target levels. And this is a compelling reason to buy Bitcoin, an asset that most analytics agencies see as a preferred insurance policy against price growth for major investors.


StormGain analytics group
(cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on January 13, 2022, 04:26:20 PM
Miners shift focus to Bitcoin

Miners' behaviour is cyclical and directly linked to the price of Bitcoin. Consequently, when BTC is at an all-time high, they increase supply in order to take profits and cover their operating costs. When the price corrects and mining difficulty drops, their profitability falls significantly. This then incentivises miners to accumulate coins and wait for better days ahead.

Bitcoin has already declined 40% from its November highs. This, in turn, has reduced the daily profitability of one of the best rigs on the market, the Antminer S19j Pro (which costs $11,000) from $25 to $15, similarly slashing the daily yield for one terahash from $0.45 to $0.22.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSry7HAXKnRM6Sgi8ESoA6pTgRns77yipx5opFgGZzzQG3RjaK56vJzd7yZyxFaoxSTNeJ?format=match&mode=fit&width=640)

Major mining companies are increasing their production capacities by raising investment capital. They won't resort to powering down their rigs even if their profitability turns negative. For this reason, calculation difficulty is increasingly less correlated with price. That explains why it has increased three times despite the current 40% correction in Bitcoin's price. What's more, it will most likely rise a further 0.8% in the next 10 days.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSdvVjYtdMVyLhww2pbGDzropS1mfmZBMXxJRWyxWXv2L73jQdcqo3CSR36z6jQBEdgqKU?format=match&mode=fit&width=640)

In a bid to avoid operating at a loss, the majority of miners are switching to Bitcoin mining. According to data from Glassnode, they started to actively put aside coins once the price fell below $45,000. Miner reserves have now reached 1.9 million BTC or 10% of the total amount issued. If we exclude lost coins, this indicator is close to 15%.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYScfL3Ug93HHG7AkBMYn1rPQ76YMB6CP2Qsty9k6PTX9FHzSqK2eSegGLAJGfqvh2LVqXk?format=match&mode=fit&width=640)

On this occasion, miners' behaviour is in line with general sentiment: following the November sell-off, the market is mostly accumulating coins.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYScdgQYN14JvwHES3xvKbNDVkey2J4j8pQfrPeSBMa21HPmJkZfJUP5CfCS7JLY7p9jCnz?format=match&mode=fit&width=640)

The reduced market supply will buoy Bitcoin. Another positive factor will be the normalisation of the situation in Kazakhstan, which is the second-largest player in the global mining market.


StormGain analytics group
(cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on January 17, 2022, 02:56:58 PM
BofA: Solana is stealing market share from Ethereum

Ethereum was the first blockchain to fully support smart contracts. This was largely behind its rise in popularity and helped drive the development of sectors of the crypto economy like decentralised finance (DeFi) and non-fungible tokens (NFTs). Just one year ago, Ethereum had a virtual monopoly, with a 97% share of all DeFi blocked funds, though this figure has now shrunk to 62%.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSguuzZtGhc3AM4CxkcgRYAHAucXwpndg9dDcbmhRHa7CY1MgE5BZ8HVLEhjyg4S7hEtPx?format=match&mode=fit&width=640)

In addition to rising demand, there was also a significant increase in network load, something that Ethereum wasn't quite ready for. For security and maximum decentralisation, the blockchain was built on a proof-of-work protocol, but the downside of this was low throughput capacity. Ethereum is incapable of processing more than 20 transactions per second (TPS), which means that its users are required to pay higher commission to ensure their transactions are entered into the block. Competition between users led to record high commissions that frequently exceeded $50.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSsWVmBmPKFGw4xdx2HQtgjAwoqPnEEinN1JNqYmQnVmwiDq6qAenRTVDMmJWWkBzBu57U?format=match&mode=fit&width=640)

Ethereum's low speeds and high expenses incentivised the development of faster blockchains. One of the most forward-looking of these is Solana, which charges commission of less than one cent despite boasting speeds in excess of 50,000 TPS. Solana is based on a proof-of-stake protocol and is less stable and less decentralised than Ethereum. However, this has not discouraged Bank of America from calling it a "potential VISA of the digital asset ecosystem".

Over the course of the past financial year, VISA processed 165 billion transactions, while Solana managed just over 50 billion. Solana only entered the NFT market in August but now accounts for more than 6 million digital objects created using this technology.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSkUpvsY6rKKYgcuJ1neMbAEnyNVBW9gCChJWyQjqgkp93SEVwWhZJEuaUdWPKAFvCWDdx?format=match&mode=fit&width=640)

Solana is a relatively young project that still has some teething problems to work out. The network was taken down several times by DDoS attacks on one of its decentralised exchanges, with the Solana Labs management team admitting that it had problems on multiple occasions. The viability of Solana and its potential to take further market share from Ethereum will largely depend on the project #DevelopmentTeam 's ability to solve these problems at the earliest possible opportunity.


StormGain analytics group
(cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on January 18, 2022, 02:46:32 PM
Current mining cost of Bitcoin: $34,000

The profitability of Bitcoin mining is directly dependent on total mobilised capacity, mining difficulty and the price of the coin itself. On 15 January, the network's hashrate hit a new all-time high of 231.2 EH/s.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSj6BRrYKmsHeaHRQJhjxNYtj1CbtjNphvQKGyVtXxps2MLiZYFRpuHgSqdWmj3tcpf6UN?format=match&mode=fit&width=640)

An uptick in online capacity led to a rise in the expected increase in mining difficulty. While an increase of 0.7% was predicted early last week, difficulty is now expected to rise by 6.1%. In this case, mining difficulty could also hit a new all-time high within four days.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSsVgBzUZq3yfj48XJaD6HTG8HjKJqDvd96EeUY6dfUoy1N3mozA6C9ii2uKKV5v2i8SLE?format=match&mode=fit&width=640)

Difficulty increases both as a result of an increase in the number of active miners and due to improvements in ASICs. In November 2021, Bitmain unveiled its new Antiminer S19 XP — a machine that boasts 140 terahash capacity while still only using 3 kWh of electricity. This represents an energy efficiency gain of 37% and a profitability increase of 25% over the S19 Pro, thanks to its 5 nm chipset. According to analytics agency Luxor, by the end of 2022, the S19 XP will account for a quarter of the global hashrate.

Currently, the biggest order received by Bitmain for its new model was made by Marathon Digital, which plans to become the world's biggest publicly traded mining company over the next year. During this time, the total number of ASICs online should rise to 199,000, with a total computing power of up to 23 EH/s.

The current mining cost of Bitcoin is estimated at $34,000, while mining profitability stands at 25.6%. Any future increase in difficulty will lead to a reduction in mining profitability. Once it falls to zero or below, we typically see a rally in Bitcoin.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSkWGbz2LbNoaY15AkK5ooA19SCQXXkVW4DDaawgQ9mCBT1rJataAzzbV52h2SQdKyULKp?format=match&mode=fit&width=640)

The lower the mining reward is, the more coins miners accumulate as they wait for the next wave of price growth. Their reserves currently exceed 1.9 million BTC or 10% of the total coins issued. What's more, not just miners return to accumulation; hodlers do, too.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSfQvwtTSgdo6qRsgdWyGDWAwpRojRo6ZnjTkGHMo3gbwZxSRj6GiEYjyuEnvXtYMUojyp?format=match&mode=fit&width=640)

All things remaining equal, the upcoming increase in difficulty will cause Bitcoin's price to rise in the long term as the accumulation of coins will lead to lower supply in the market.


StormGain analytics group
(cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on January 20, 2022, 12:41:41 PM
Cardano is back

Six months ago, Cardano was one of the Top 3 blockchains with a market cap of $100 billion. However, subsequent problems with integrating decentralised apps caused the coin to plummet from $3 to $1.50. Many thought that the project's days were numbered, and some users even dubbed the coin a "total scam". Nonetheless, it's too early to write Cardano off just yet. The fact that we're seeing new startups based on the project is proof of that.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSg7RYC4X4gmY7Ytwqzr7pWYFg1Q6Zppcsh6RzdyMULSckMGQUxgHBLCFkhsJXzsJ8uKav?format=match&mode=fit&width=640)

The Alonzo hard fork in September 2021 integrated smart contract support, paving the way for the launch of decentralised apps and exchanges (DEX). This identified the presence of serious parallelism issues with the network, which led to errors when attempting to exchange tokens on its first iteration of DEX Minswap.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSgwWfDjX6tDcRTfKuFyxLknitoVJckK5zxJvB3esrdThE4BM2wdAyT4xLqqnRmfjXxrB8?format=match&mode=fit&width=640)

Without giving much in the way of detail, a part of the blogosphere predicted that Cardano would fade into obscurity. According to them, the network is capable of performing just one transaction per block, and only one user can interact with a contract at any one time. However, that's not true; everything depends on the DEX architecture used. The DEX SundaeSwap team refuted these claims, calling the problems experienced by its predecessor "an unsuccessful experiment".

We'll find out which side of the argument was right tomorrow (20 January), when the SundaeSwap exchange launches. This is doubly good news for Cardano since a positive start for the project will remove any doubts in the community as to the capabilities of its network when it comes to operating smart contracts while also increasing demand for ADA, which is necessary for participating in SUNDAE token stake pools and distributions.

A second positive factor for Cardano is the network's debut on the metaverse market. Pavia, a new competitor to Decentraland and Sandbox, launched on 15 January.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSmE4sovYjAGfW5oUbdfjYphN7TVgtWqaRhxAgVycWbHYc35Pn4AvJcEzHeXeLwDzZSEvA?format=match&mode=fit&width=640)

Out of 100,000 virtual land parcels, around 60% were sold via presales, with the rest going on sale at some point during 2022. Currently, there are more than 8,000 landowners registered with Pavia, with a record price for a single parcel of 58,000 ADA (~$84,000).

After its "unsuccessful September experiment", Cardano dropped from third to fifth place in the crypto rankings, losing half of its total market cap. However, this year the network has every chance of regaining its position.


StormGain analytics group
(cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on January 24, 2022, 01:35:53 PM
Bitcoin mining difficulty hits new all-time high

The Chinese ban on mining in May 2021 sent the ASICs market into a veritable frenzy as the subsequent reduced network capacity led to a drop in calculation difficulty and a rise in profitability. Western companies cashed in on this development by making huge equipment orders. In October 2021, for instance, Marathon Digital took out a $100 million loan to buy a fleet of the latest S19 XP machines, which boast a capacity of 140 Th/s. The company's aim is to become the most powerful publicly-traded miner in the world within one year.

The growth in computational capacity led first to a record increase in the network's hashrate, followed by a similar jump in calculation difficulty. These two indicators are inextricably linked since the system is programmed to try and maintain a block creation speed of 10 minutes. On 21 January, Bitcoin mining shot up 9.3% in a single day.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYStFiMRGnH7MpiCAUGNqkdUijMhFSdHSGYbGwjJjFEgHymA158WRdNhaVcocJxSB9931CS?format=match&mode=fit&width=640)

Despite the rise in difficulty, the profitability from one hashrate is two times higher than the all-time low. This is due to the relatively high price of Bitcoin and improvements in equipment. For example, the aforementioned ASIC S19 XP is estimated to guarantee an income of $18.50 at electricity prices of $0.10 per 1 kWh.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSgxVDQ2g6vvCD8BbZ91u12wS9vev1pGqQ4pkNHR3vgsMqpJpUriP7fa93P2UqLtj5QZaN?format=match&mode=fit&width=640)

The current intrinsic cost of mining 1 BTC is estimated at $34,000, so a correction to $38,000 is no big inconvenience for miners with the latest equipment. However, it will induce an increasing number of market participants to shift their focus towards accumulating coins in anticipation of future price growth.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSg5K8Kpo84DiiuMommTeu7xjaEEi8dPU2y6fbzhSuBYx6gBb9feSHsyoFUfPfYbFWAwbc?format=match&mode=fit&width=640)

Reduced supply as a result of coin accumulation typically leads to price rises. That said, the crypto market (much like any other financial market) can experience periods of euphoria or panic. A potential ban on cryptocurrency transaction and mining in Russia — the third biggest contributor to the Bitcoin hashrate — could provoke a coin sell-off. In that case, we would see a repeat of last year's 'China scenario', which was characterised by a drop in network capacity followed by a prolonged Bitcoin correction.


StormGain analytics group
(cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on January 25, 2022, 02:59:27 PM
Bitcoin crash threatens El Salvador with default

In the 1980s, El Salvador's economy suffered from unbridled inflation, which reached a peak of 31.9% in 1986. In an effort to return some sense of normalcy, the government took radical measures. In 1994, they tied the national currency to the US dollar before totally removing the Salvadoran colón from circulation in 2003.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSm8t7Ug4wEwWHoNaZ4rpN2VwUgVCR6PSk5mX8j4w2ZQfTACAQ6efAUU7mxomvhxUFJaez?format=match&mode=fit&width=640)

The dollarisation of the economy helped the Central American country get inflation under control but brought with it a host of other problems. For example, output quality requirements increased since the country was no longer able to take advantage of the exchange advantages previously afforded to it by its depressed national currency. Furthermore, the outflow of labour increased (predominantly to the US).

In 2019, the increase in money transfers from Salvadoran immigrants to their relatives back home reached 20% of the country's GDP ($6 billion). This then exposed yet another problem: the high rates of commission withheld by American payment systems. Salvadoran President Nayib Bukele cited the high commission rates on dollar transactions as one of the leading reasons for the adoption of Bitcoin as a second official currency. Thus, while the cost of sending funds from Los Angeles via Western Union can exceed $15 per transaction, Bitcoin transfers of any amount to anywhere in the world currently run at around $1.30.

El Salvador's risk of default lies in the fact that the present moment was not the best time for currency experiments. The country's international debt stands at $800 million and matures in January 2023. Bukele had been counting on assistance from the IMF in restructuring the debt, but last year the Fund spoke out against the idea to make Bitcoin legal tender and refused to help El Salvador do that. El Salvador's insistence on crypto innovation was not to the IMF's liking and was likely the reason it refused to help the Central American nation this year. After Bitcoin was declared legal tender, credit default swaps (investor insurance policies) rose by 400%.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSj5N7UA2e2xgmsb1KVJJzLXTpMKUfvKCJ4Rk5G5gotCnjhtZMTLeJygBKPQ2DmhpExpmC?format=match&mode=fit&width=640)

Bukele must immediately seek out funds to refinance the debt in 2022. His last hope could be the issue of a 10-year Bitcoin-denominated bond worth $1 billion.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSu5KjZcW4gYpJpejxgEPk9wsBBSTsPaMH6Lzc5YLpeo3NPjhbj1VSr1tQLTWJ4hsYUEWS?format=match&mode=fit&width=640)

However, Bitcoin's correction and ongoing strong volatility are fuelling doubts over El Salvador's ability to attract investors with this new financial instrument. El Salvador's own investments in Bitcoin are currently in the red as much of its purchasing was done in Q4 2021.

Without the IMF's help, a continuation of Bitcoin's correction will mean El Salvador's default is virtually inevitable. Last year, ratings agency Moody's lowered the country's credit rating to Caa1 (very high risk of failure to fulfil credit obligations).


StormGain analytics group
(cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on January 26, 2022, 11:38:27 AM
Feeling the pressure? How to stay calm when Bitcoin crashes

The holiday season was not kind to Bitcoin and other cryptocurrencies as the original coin dropped almost 20% over the last 30 days. BTC has been in steady decline since peaking in early November and is hovering around $43K at the time of writing. Where Bitcoin goes, the whole crypto market usually follows, and the price of everything from altcoins to NFTs all took a hit.

Longtime crypto hodlers may not be too fazed about this development, but if you're new to crypto, you might be concerned to see prices go down. If this is you, don't panic; there are many people in the same boat as you and plenty who have seen it all before, too. In 2020 and 2021, many individuals invested in crypto for the first time. StormGain reached over 1 million active users in 2021, part of a wider trend of new sign-ups to crypto platforms around the world.

For many new crypto holders, this could be their first experience of a temporary crash or even a bear market period. Crypto is not unique in this regard; it can happen with any investment. The most important thing is to manage the psychological pressure of playing the market so you can make rational, profitable decisions. Here are a few tips to help you weather the storm.

Look at the historical data

It's important in any investment to have a long-term perspective. Ask anyone who has been in the crypto space for years, and they'll tell you that Bitcoin's current price is far from a disaster. BTC only broke 40K for the first time back in January 2021. Bitcoin dipped even lower last summer to under $30K in July.

In 2020, BTC's price even dropped below $6K before going on to hit record highs later that year. BTC also faced a dramatic crash in 2018 that wiped out over 80% of its value. Nonetheless, when you look at the historical data, it confirms that it's still a great time for cryptocurrency, and veteran investors who held on or even bought through previous dips will be aware of this because of their long-term view.

(https://steemitimages.com/p/99pyU5Ga1kwqSXWA2evTexn6YzPHotJF8R85JZsErvtTWXv95XmeWXkQAYLtPuL7S9XbDjdGEgBfFu7iJ79WYDoc5pgCAoaod4Z3h54biU7SYS4tgWZpGfWfhdkHmi9Xnn?format=match&mode=fit&width=640)

In fact, crypto's volatility is part of the appeal for many traders as it increases the profits that can be made by buying low and selling high. A crash can benefit traders, but they should be emotionally prepared to take advantage of them.

Mentally prepare for ups and downs

Cryptocurrencies are easy to invest in and a trendy topic in the news and among influencers who will draw attention to any market movement with all the drama and intensity that it takes to attract views in today's fast-paced news cycle. FOMO and greed, on one side, and fear on the other can lead to short-term investors rapidly buying in during moments of hype and selling off en-masse when frightened.

A multitude of things can affect this, from proposed government regulations to viral tweets from influencers, venture capital fads, etc. It's important to follow the market news, sure, but be aware that much of it is trying to play on your emotions.

New crypto traders need to accept that this isn't the first crash, and it won't be the last. If it's not currently the optimal time to sell BTC for profit, who says it needs to be done now? Look at everything that happens in the context of the long-term development of the currency and your personal needs. If you're not desperate to cash out, it might be better to simply wait for a better time or even accumulate. Make your decisions based on what the numbers mean to your own situation. Asset prices and media hype both go in cycles: you want to use them, not be used by them.

Make a plan

One of the best ways to save your mental health during market movements is to make a plan. Set aside the assets you want for long-term investing and which ones you can use to play around and take risks with. StormGain's crypto indices, for example, are good to leave untouched for a longer period as a hedge against volatility. Options, on the other hand, are good for speculation. For all your assets, decide for yourself in advance what prices you're comfortable buying/selling at. That way, when the ups and downs come, they're part of the plan rather than a shock.

Always be learning

Cryptocurrency is an emerging technology that is not always fully understood by new investors who entered to chase a trend. We can expect more developments that affect the price of BTC before it settles, but crypto adoption by individuals and institutions is steadily increasing, and it's not going away anytime soon.

The best way to position oneself in this adoption period is to learn as much as possible about crypto and its market context. It's not even necessary to risk your assets to turn a crash into a learning experience. StormGain's demo account, for example, lets you trade virtual crypto under real market conditions, allowing you to test ideas that can be put into play over the next market cycle. On top of that, StormGain also features a built-in education programme, with resources and webinars available to gain crypto knowledge that helps you make calm, rational decisions during any market situation.

Not a StormGain customer yet? Register now to try the demo account and access the tools you need to make a profit from crypto in 2022.
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on January 27, 2022, 02:51:32 PM
Bearish Bitcoin metrics

The cryptocurrency market has already corrected by 45% from all-time highs as investors took $2.5 billion in net losses in the last week alone. Bitcoin has bombed 50% from its recent peak, with the lion's share of the sell-off attributable to short-term holders.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSefsARZNPNiNA5PEKmaLkYQvcVXd9PfysJ3zkpP1WRAbArtSE74QouUaU7qsc4eT3uug2?format=match&mode=fit&width=640)

However, Bitcoin's latest correction is far from its most dramatic. Indeed, in July of last year, it declined by 54%, and in 2018, it fell by 83%.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSjgBdqYJB5WHTdyk1nKafeNNJRTg3mwhXNxguSTcr1QzvK3bGBhKPvJyc8WM61vs8RC6A?format=match&mode=fit&width=640)

And once again, it was short-term holders (those holding for 155 days or less) who were hit the hardest, either selling close to the price they paid or taking losses. By increasing the volume of coins on the market, they actually served to strengthen the bearish trend. Currently, this investor group controls 18.3% of total supply, and virtually all of them are down on their initial investment at present (light red section of the chart).

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSr4f6gv6mL1QoVJUQz2i5FER54tpca4FSk2zSHidJ5nVn4QyZ8rM6mZiUnMc9BZ4qXFDg?format=match&mode=fit&width=640)

They are counterbalanced by long-term 'HODLers' who stopped the sell-off brought about by Bitcoin's reaching a new all-time high. In this group, only 6.1% of coins held currently represent a loss. What's more, the total volume of coins that have been dormant for more than a year has risen to 5.8%. Once again, we can see a difference in the behaviour of short-term holders and HODLers during this cryptocurrency market correction.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSiDrRHNZ4gUJxRJZsA6xmfp83NLabME6YtMfkU3H7CQza1QJQvxGhCCF4LCt4XT6hy83Q?format=match&mode=fit&width=640)

We previously explained that the current intrinsic cost of mining 1 BTC is $34,000. As prices approach this level, the vast majority of miners will hoard coins and wait for the next bullish phase. As short-term holders calm down and market supply falls, prices should start to rise, provided no additional political factors come to the fore.

Beyond the 'Russian threat' against Bitcoin, there is a further risk in the form of IMF pressure on El Salvador. El Salvador famously recognised Bitcoin as legal tender last year despite the IMF's negative opinion of the move and the poor state of the economy of the country, whose YoY budget deficit stands at around 5% of GDP. El Salvador is banking on the IMF providing it with a $1.3 billion loan, which it needs to restructure its external debt. In a report released yesterday, the IMF called upon El Salvador to restrict the scope of the law on Bitcoin and remove its status as an official payment method, hinting that this would be a necessary step to receive a loan. If El Salvador relents, this will provoke a further correction.


StormGain analytics group
(cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on January 31, 2022, 11:56:47 AM
Hype and fake: Grimacecoin up 300.000%

Elon Musk was once again involved in the latest crypto hype, though the glory for the emergence of fake coins this time goes to McDonald's. Grimacecoin is an excellent example for traders of the need to properly think through investment decisions.

The story began with a run-of-the-mill attempt by Elon Musk to breathe some life into his beloved Dogecoin. On 14 January, Tesla announced that it would be accepting DOGE as a payment method for several of its products. Within hours, the coin's price had risen by 30%. But over the coming days, Doge's newfound optimism waned once more.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSfS6UgLgegAE5RPXyp1D9WyGkosJFUTukvxTtVyXwbAhqTREmhTjMTra88YEbSvG3Cw4i?format=match&mode=fit&width=640)

Then, on 25 January, Musk called upon McDonald's to add Dogecoin to its list of accepted payment methods, promising to livestream himself eating a Happy Meal if they did. As a joke, the fast-food chain replied: "only if @tesla starts accepting grimacecoin" (Grimace is one of McDonald's brand characters).

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYStFjZVKjA9D54EMk6NABETE4RidwyqzZdRzgmEFf6ccNe3mSJm5Ln7f1TrFBv8FwHZUuL?format=match&mode=fit&width=640)

After McDonald's statement, the Binance Smart Chain network was flooded with dozens of fake Grimacecoins, the best-performing of which rose from $0.0007 to $2.00 to reach a market cap of $2 million. The coin managed to rack up more than 6,000 transactions and is now held by 1,179 people.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYStH1zEPocVkjQVqtUZQv7WCtaEQD4Akm2to9HLpbLop6duesA9ySjvsMQbEScDsVCAo98?format=match&mode=fit&width=640)

The bulk of its trading was on decentralised exchanges, but it has since fallen significantly. With no official word from McDonald's about it launching its own coin, a growing number of participants in the hype are removing their rose-tinted glasses.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSsejssTDtDarCFg5MvPTnt2iuNvu6hqFSeEy7JxJDrDdQB8NdVzFnZVCEUvtdXZB7xKtS?format=match&mode=fit&width=640)

This isn't the first time scammers have taken advantage of crypto investors' trusting nature. In November, we covered the story of SQUID coin, which was launched amid the global interest in the TV series 'Squid Game'. In that case, the tokens were sold as tickets for an online game. In the end, no game even took place.

The internet is full of examples of little-known tokens gaining huge popularity in the span of a year by promising investors earth-shattering returns. Unfortunately, however, investors in such projects typically end up losing their money. But what do you think: is it worth buying start-ups, or is it wiser to focus on well-established projects? Tell us your thoughts in the comments section!


StormGain analytical group
(cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on February 01, 2022, 01:37:38 PM
Free crypto and fantastic bonuses awarded to our lucky holiday draw winners

Over the holiday season, StormGain ran one of our most exciting promotions to date: a multi-round prize draw with escalating prizes, starting with account upgrades and culminating in a cryptocurrency giveaway in the final round!

From 6 December to 9 January, active traders on StormGain who maintained a certain trading volume received tickets for a series of four prize draws on StormGain.

The winners of these draws received a free upgrade to their account status in the StormGain loyalty programme. Each upgrade (Gold to Diamond, Diamond to VIP, etc.) grants extra bonus funds on deposits, lower commissions, and, most importantly, increased speed on the Bitcoin cloud miner that allows users to earn free BTC while using StormGain. Only one status upgrade could be awarded per user.

Here's how many prizes were awarded on each draw:

- Draw 1 (10 Dec) - 50 upgrades
- Draw 2 (17 Dec) - 100 upgrades
- Draw 3 (24 Dec) - 150 upgrades
- Draw 4 (10 Jan) - 200 upgrades (+5 crypto prizes)


To ensure fairness and security from any tampering, all the draws were conducted with Random.org, an optimised randomiser tool that offers truly random selections by leveraging atmospheric noise rather than predictable mathematical formulae. The draws were open to the public, so anyone could watch (https://youtu.be/Jb-_nsLzjjo (https://youtu.be/Jb-_nsLzjjo)) as they happened in real-time. Now 500 StormGain clients, new and old, are enjoying their supercharged accounts.

Five high-value cryptocurrencies as top prizes

As an extra-special reward to ring in the new year, the final draw also included free cryptocurrency as VIP prizes. As part of the final draw on 10 January, StormGain gave away five different crypto coins in addition to the account upgrades. These were:

- Bitcoin (BTC), current value $41,747
- Ether (ETH), current value $3114
- Bitcoin Cash (BCH), current value $381
- Litecoin (LTC), current value $140
- ZCASH (ZEC), current value $130


The prizes were in real crypto, not in their USDT equivalents, so the winners are free to trade, hold or withdraw their prize coins based on their own strategies. What would you do with a free coin if you received one?

Keep your eye on the prize with StormGain

Whether you were one of the lucky prize winners or not, there's still every chance to win some extra goodies during the next promo event. As 2022 begins, the new season of trading has just started, bringing more opportunities on StormGain.

"At StormGain, we believe that the spirits of trading and gaming go hand in hand, and we love to offer a little extra to our clients in the form of trading tournaments, contests, and sweepstakes with great prizes," said StormGain CEO Alex Althausen. "The community response has been fantastic and heartwarming, with users really motivated to play smart and keep up their trading volume to qualify for the prizes. The fact that some of our sweepstake winners registered just in time to participate shows just how easy the platform is for new people to pick up and use all our tools to become successful traders. This has been our biggest giveaway yet, but of course, we're already thinking about exciting new promos and events to top it. Watch this space!"

The benefits of the StormGain loyalty status and cloud miner can be earned by anyone during the course of normal trading, so if you're not a StormGain client, make sure why not register for free to find out how StormGain can maximise the gains you earn in crypto trading. Remember to keep an eye on your news section for new events. When the next giveaway comes around, you could be one of the lucky ones to get some valuable bonus crypto on top!
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on February 02, 2022, 11:41:38 AM
The butterfly effect: LUNA down on Wonderland scandal

LUNA is down 37% within the space of a week, or 56% from its December peak. A sloppy choice of business partners has led to an increased risk that could translate to further declines for the cryptocurrency.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSjjSqqS2614fY3ojHfxGKNsU3WPQDToPJ97kXzknJh9L9VvG2kUQjSmGb6fzbGdfZRTD8?format=match&mode=fit&width=640)

LUNA is a balancing coin for the Terra project's algorithmic stablecoin UST. Simply put, LUNA's value rises as demand for the stablecoin increases. Interest in independently issued stablecoins is extremely high right now, a trend that allowed UST to become the fourth-largest stablecoin by market cap in December, while LUNA has risen 130-fold in value over the past year.

In November 2021, Terra and Abracadabra launched their Degenbox service, which enables users to generate income from arbitrage operations using their stablecoins: UST and MIM (for more information, see this article). Meanwhile, Abracadabra CEO Daniele Sestagalli noted that this kind of cooperation is the future of the DeFi (decentralised finance) market.

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Beyond Abracadabra, Daniele Sestagalli is also the developer of Popsicle Finance and Wonderland. The crisis started with Wonderland when it was revealed that the company's CFO was Michael Patryn, a criminal with multiple convictions for fraud.

The truth only came out last week since Michael Patryn had been working under the pseudonym 0xSifu. It was Twitter user @zachxbt who revealed that these two were one and the same person. A short time later, Daniele Sestagalli confirmed Patryn's identity, noting that "a person's past does not define their future". In actuality, Michael Patryn is an alias of Omar Dhanani, who was found guilty on multiple counts of fraud, theft and computer crimes. In 2018, the company he founded, QuadrigaCX, went belly up when the Canadian regulator deemed it a "Ponzi scheme". Its investors lost more than CAD 169 million.

Another user noted that the personal wallet of 0xSifu/Patryn/Dhanani had risen ten-fold over the previous month (from $45 million to $450 million).

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The scandal provoked huge capital outflows from both Daniele Sestagalli's projects and those of his partners. Wonderland coin's value halved overnight to reach a total correction of 96% from November highs.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSj2KXHbsMR3PjXNZLxbGMW9X5h62JcNDhipA5MMXPaUE2xKAZvKe2FmSqqD94i24RcUTY?format=match&mode=fit&width=640)

The stablecoin MIM, which is tied 1:1 with the US dollar, was worth less than 98 cents on 28 January. Since MIM and UST are mutually tied through various pools, the key liquidity providers moved to liquidate their positions. On 27 January, Alameda Research alone lost around $500 million worth of capital.

Since UST is an algorithmic stablecoin, it's unlikely that the current situation will lead to a severe lack of liquidity. In response to the growing criticism, Daniele Sestagalli has already fired "Master Sifu", despite any personal affection he might have for the man. When the furore calms down, the situation will normalise, and LUNA should return to growth.


StormGain analytical group
(cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on February 03, 2022, 03:50:21 PM
Understanding the crypto market crash

The crypto crash has come, and everyone interested in the blockchain space is feeling it. Bitcoin and Ether fell to their lowest levels since July, and, as is typical for the crypto market, the wide range of altcoins tend to follow Bitcoin on the way down. Bitcoin (BTC) fell below the $34,000 mark on Monday, trading for around $33,050 following its all-time high of $69,000. Ether (ETH), the second-most-popular digital currency, fell to $2,201 on Monday, down 53% from its all-time high. Note that both of the top two cryptocurrencies reached those all-time highs as recently as November 2021. Popular altcoins, such as Solana (SOL) and Shiba Inu (SHIB), fell by 64% and 75%, respectively. The entire crypto market has so far lost a combined $1.5 trillion in market capitalisation since May 2021.

As we have previously discussed, one has to disregard hype and see the market movement in its long-term context. It's not the crypto crash but rather a crypto crash, and the crypto market has had dramatic drops before it went on to smash record highs again. But the situation right now is clear: it appears we're seeing the beginnings of a crypto winter or possibly even a bear market. So, what brought us to this?

Inflation and risk aversion

Despite the headlines, there is more going on in the markets than just crypto. Bitcoin and Co. are part of a larger trend, i.e., a broader market sell-off of technology stocks and other high-risk assets. As is often the case, geopolitical events affect global trade, and, despite a myth to the contrary, Bitcoin is not immune to politics. The main drivers of recent market anxiety appear to be tied to concerns about a possible Russian attack against Ukraine and the US Federal Reserve's upcoming meeting to tighten monetary policy and decide on raising the dollar's interest rate.

Amidst soaring inflation, the Federal Reserve is discussing the prospect of up to four interest rate hikes in 2022. Analysts have also pointed out that the drawdown of quantitative easing measures in the US may also be a factor. Either way, uncertainty reigns in the market, causing an aversion to risky assets. Crypto is closely correlated with tech stocks, and both are seen as riskier sectors. Apple, Microsoft, Tesla, the Nasdaq 100 and others have all seen a recent sustained slump. Crypto is part of the same trend but with higher volatility, making for more dramatic chart movements.

Over-regulation of cryptocurrency

Another factor in the crypto market's downturn is the apparent hostility of certain governments toward the sector, especially in countries that were important for mining and developing crypto. Last week, the Russian central bank called to ban the use and mining of cryptocurrencies. Among the reasons cited were risks to financial stability and security threats from crime or terrorism.

Then, there is China's ongoing and extensive crackdown of Bitcoin mining operations, which caused a 50% drop in Bitcoin's mining hash rate. China's strict regulation has already pushed BTC's price down and may continue to be a consideration in the short term, at least until miners find a new stable base to relocate to.

One such country was Kazakhstan, a large country with a cool, dry climate and plenty of available space that made it an attractive alternative for Chinese miners to relocate to. Unfortunately for them, this central Asian nation is not taking kindly to miners' use of electricity. The recent energy crisis and related political and social instability in Kazakhstan have also harmed the overall cryptocurrency market. Kazakhstan pointed the finger at energy-hungry cryptocurrency miners (energy consumption increased by 8%) for triggering the energy crisis.

What comes next?

A market correction like the current one hitting cryptocurrency offers a great opportunity to 'buy the dip' and pick up new assets at low prices. Bitcoin and Ether have historically bounced back from similar falls, although the value of meme coins such as Dogecoin remains untested in these cases. And although regulation is currently putting pressure on crypto, both the US Federal Reserve and the Chinese Central Bank have recently been clear about their considerations of their own digital currencies (CBDCs), which could boost digital assets in the future.

To make the right market moves in this climate, one should be equipped with the best analytical tools and most favourable trading conditions possible. StormGain provides both, combining a powerful and easy-to-understand platform with a range of assets for both speculation and risk management. New to StormGain? Sign up in just a few seconds and try our demo account to see what this all-in-one crypto platform can do for you!
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on February 04, 2022, 10:36:26 AM
$1.1 billion worth of Ethereum burned in January

Since 5 August, there has been a deflationary mechanism on the Ethereum network: transaction commission is being burned, while miners are only working for "tips". Over the past six months, 1.7 million ETH worth $6.4 billion has been burned, $1.1 billion in January 2022 alone.

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The number of coins burned is getting closer to the number issued with each passing month, with the ratio currently standing at 73%. All things remaining equal, the reduced supply should lead to a deficit in the market and a subsequent rise in value. On 5 August, 1 ETH was equal to 0.07 BTC, a level that has remained a long-term support for the altcoin. It is expected to switch to a fully deflationary mechanism once the network transitions to a proof-of-stake protocol. The latest estimates predict that this crossroads should be reached no later than Q2 2022.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSkPwZGNxQeZaaDJjeN8QCcDWvExL8QsX2stD7GhY2vkuNgwfL4ZYbXPVev1c86R6yxjfk?format=match&mode=fit&width=640)

In January, the NFT trading platform OpenSea was the main Ethereum burn node. The platform recorded turnover of more than $3.5 billion in January, with Ultra Sound Money calculating the total number of liquidated coins at 65,778 ETH.

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OpenSea was helped to its new record by Justin Bieber, who purchased a Bored Ape NFT for $1.3 million.

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Currently, the lowest-priced NFT was sold for $271,000. Bieber paid slightly more at auction to ensure that he got his ape. And this wasn't the Canadian star's first notable purchase: statistics show that he owns 619 NFTs from 49 collections.

The Bored Ape is part of the Bored Ape Yacht Club collection, which consists of 10,000 images and occupies pole position in terms of capitalisation with $3.3 billion. Beyond Justin Bieber, celebrity owners of the collection's NFTs include Shaquille O'Neal, Steve Aoki, Jimmy Fallon and Paris Hilton, to name but a few.

Despite the general decline of the cryptocurrency market, the NFT segment continues to set new records. More and more companies are joining the new trend and minting their own tokens, while an increasing number of celebrities are starting to amass digital collections. The practical application of smart contracts will support Ethereum's price and help the altcoin strengthen further against Bitcoin.


StormGain analytics group
(cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on February 07, 2022, 11:41:26 AM
Bitcoin mining revolution

The Bitcoin network's algorithm is predicated on one block being processed every 10 minutes, which means that calculation difficulty changes once every two weeks. Until 2017, mining was predominantly carried out by crypto enthusiasts. This was why such a large drop in the network hashrate was seen after a significant price correction. Miners would turn off their equipment when it stopped being profitable for them to mine. Now, however, we are seeing difficulty continuing to set new records, even after a 50% correction from all-time price highs.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYShaSd6c2AtCuYNHaWyM1gM7RQvD2hiNnzpQsdZTKochd52hom6DNuxdMWpFZxsM6C4vp6?format=match&mode=fit&width=640)

During the 2017 rally, institutional investors entered the mining space as publicly-traded mining companies began to appear. Starting in 2020, individuals investing more than $1 million became the key source of funding for the crypto industry.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSg7vjmMaQD96DFxb7peaTZaaAMtLV7Ba65zdgT6XLLex8aMURBaK1otWR6WmgKdge2u6W?format=match&mode=fit&width=640)

The method of assessing profitability has changed completely. When miners were building farms in their back garden, they used to try and squeeze every last penny out of them. When prices fell, they didn't think to buy more powerful equipment and push back their time of recovery of outlay further into the future in order to remain on the network. It's a completely different story altogether for a publicly-traded company, where investor appeal is directly dependent on capacity.

Last year, Marathon Digital announced its wish to become the No. 1 publicly traded miner by the beginning of 2023, adding an additional $100 million to its debt burden with its purchase of the latest Antminer S19 XP ASICs from Bitmain. By the end of the year, its total calculating capacity should total 23 EH/s (12% of the global hashrate). Marathon Digital hasn't been profitable for the past four financial years in a row.

But it would seem that Marathon Digital's dream is not written in the stars. NuMiner has now unveiled its "Antminer" killer, the NM440, which boasts a record-breaking capacity of 440 TH/s. According to the manufacturer's presentation materials, the NM440 is 4.5 times more profitable than current ASICs and, if the entire world were to transition towards this model, global energy costs would fall by 75%.

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It was revealed today that Sphere 3D has placed an order with NuMiner for 60,000 NM440s worth $1.7 billion. After it's rolled out, its total hash speed will stand at 32.4 EH/s (16% of the global hashrate). Now, Sphere 3D is in the running to become Miner No. 1 by 2023.

The news was met by the market with enthusiasm, with the company's share price rocketing 25% in post-market trading. The arms race continues, and calculation difficulty is becoming increasingly less correlated with Bitcoin's price. Will Sphere 3D achieve its aim, or will it meet the same fate as Marathon Digital?


StormGain analytical group
(cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on February 08, 2022, 08:31:01 AM
Crypto bear market guide: how to beat the beast

The crypto market is continuing its extended winter slump, with the price of Bitcoin and other cryptocurrencies staying at relatively low levels, especially compared with the all-time highs they saw towards the end of 2021. Hodlers who were looking to cash out at this time may find themselves wondering whether to cut their losses or hodl on for dear life until the next bull run, but is there a way to make money on the bear market? As any experienced trader will tell you, there certainly is. Trading tactics for crypto bear markets are similar to those used in the stock market or on fiat currency financial exchanges. In this article, we'll talk about some strategies for bearish times.

Shorting

A short call or option is trading terminology for basically betting on an asset's price going down. The term hit the mainstream thanks to Michael Burry and his 'Big Short' strategy. Burry saw the signs of the dot-com crash, and later, the subprime mortgage crisis, and bet against overvalued companies in both cases, shorting their stocks and winning value for his hedge funds in the bear market. Just like with companies' stocks, a short strategy can also be carried out for a profit with crypto during a bear market.

So, how can crypto be shorted? StormGain offers a few different ways. A StormGain client recently had some success with this strategy. Predicting that the market downturn would continue, our client decided to open put options on Bitcoin (BTC). Even when the price of BTC dropped below $37,000, our client reserved the right to sell at the strike price of $40,000, marking a profit of $3,000 per BTC from the downturn.

Even without using put options, profit can be made in a bear market by short selling. This is when you sell an asset and wait for the price to drop before buying it back, keeping both your asset and the price difference as profit. The most famous example of short selling comes from George Soros, who made a short sale on the pound in 1992. Soros' fund bought and sold every pound it could get its hands on, throwing the Bank of England into chaos before buying back the pounds after their value dropped and keeping the $1 billion difference in profit.

Short-selling cryptocurrency works the same way. In fact, crypto's high volatility can make short selling especially effective. Take Shiba Inu (SHIB), for example. One StormGain user opened a short position of SHIB at $0.00006129 per coin and closed it at $0.00002055. He made thousands of dollars in profit and told about this success in his social account.

Buying the dip

If you don't feel comfortable betting against crypto, you can still use the bear market to bet on crypto's success in the long term. In the 'buy the dip' strategy, price drops are not disasters but rather signs that it's time to accumulate and hodl until the next bull run. In that case, price drops are a chance to pick up more assets for the portfolio at a discount while they are 'on sale' and wait until they are profitable to withdraw.

Shorting, hodling and more with StormGain

A bear market can be just as much of an opportunity to make money as a bull market, just using different strategies. StormGain provides all the tools you need to profit in both rising and falling markets, thanks to our advanced analytics and easy-to-use platform. Don't forget that the StormGain Bitcoin cloud miner continues to reward active users with Bitcoin, regardless of market conditions! To find out how to profit from the crypto bear market with StormGain, sign up in just a few seconds and open a demo account to try out these strategies risk-free in simulated real-market conditions!
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on February 09, 2022, 12:50:01 PM
Why AXS's 51% growth in 4 days is only the beginning for this token

Over the last four days, the cryptocurrency market has come to life as total capitalisation rose by 15%, while Bitcoin shot up 18%. Out of all the altcoins, AXS has done particularly well following the Axie Infinity team's decision to reconsider its economic model in favour of reducing inflationary pressure.

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Axie Infinity is an incremental online card game that allows players to earn money. The game uses NFTs (non-fungible tokens) that represent creatures (Axies). Players can enhance their Axies' skill sets through battles and even buy and sell the characters themselves on the in-game exchange using the AXS token. The game became so popular in 2021 that it was #1 in terms of transactions and #3 in terms of turnover on the NFT marketplace.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSepJ4Ub7vPG8c2aHs7JyfYK7QA3NaqtKuobCtPSP9CCXNYoA2qcLzEpHLw7PHtE6EBZ8J?format=match&mode=fit&width=640)

In order to attract as many new players as possible, the developers pay out in-game tokens known as Smooth Love Potion (SLPs) for completing quests, campaigns and player-vs-player battles (PVPs). Users, on the other hand, burn tokens on Reconnaissance campaigns and other in-game actions. The problem is that SLPs are generated at around four times the rate that they're burned. This leads to an economic imbalance and inflationary pressure, which threatens the token's "unavoidable economic collapse", according to the project's developers.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSuiECNq9fDByfXEphwFMqDFqy72DoLWPRswcxjZ6gKY9nwRdPekCnmnrBG7c2vcLXEKNN?format=match&mode=fit&width=640)

After discussing the problem with users, the Axie Infinity team announced on 3 February that it would be making its economic model more hawkish. As such, it will be removing the rewards for daily adventures. This measure will enable it to slash its daily token issue to 130 million SLP. A further 45 million SLP per day will be done away with by cancelling remuneration for daily quests. The update will also change how PVPs work, and rewards are reduced if bots are found to be used.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSjgWGU5BfCRr5RfhgM9sEC922zjcM6KuQVTQVukVKKLT8VbpvLfAFSVwvwyUqDVMuAQ9t?format=match&mode=fit&width=640)

As of November 2021, SLP has been trading below its list price, reaching a low of $0.009 on 3 February. Once the announcement about these changes to its monetisation, the token's capitalisation shot up 35%, while its daily turnover skyrocketed 400%. The rise in the value of these in-game coins will increase spending on building characters and their value. If the game remains as popular as it currently is, this will, in turn, lead to increased demand for the ASX token.


StormGain analytics group
(cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on February 11, 2022, 12:01:49 PM
What happened to the crypto scammers who stole 119,754 Bitcoin ($4.5 billion in today's prices) from Bitfinex?

Cryptocurrencies provide their users with super anonymity, something that scammers the world over use to their advantage. In actuality, the majority of networks (Bitcoin included) store full transaction history. This enables investigators to unravel even the most labyrinthine of trails from among thousands of transactions and dozens of user records.

It was recently revealed that US authorities had arrested couple Heather Morgan and Ilya Lichtenstein on charges of fraud, money laundering of illegally gotten funds and crimes against the United States. The Department of Justice has already made the biggest bust in its history, seizing coins worth ₿94,000 ($3.6 billion in today's price) stolen in the Bitfinex heist.

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The Bitfinex robbery took place in 2016 and involved 2000 transactions to an external wallet with the ID 1CGA4s5.... Hackers were able to walk away with ₿119,754, which was worth $71 million at the time. In a bid to hide their tracks and cash in the coins, over the ensuing years, the fraudsters created numerous accounts on the darknet site AlphaBay and several accounts on various crypto exchanges using made-up names or false identities.

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To hide their transaction history, Lichtenstein and Morgan made transactions from one account to another, often favouring coins with higher levels of anonymity, such as Monero. However, as is usually the case, they left crumbs of evidence here and there. For example, when creating accounts on one crypto exchange (VCE1), the scammers used similar e-mail addresses hosted with providers based in India. After being asked for additional documentation by the exchanges, Lichtenstein and Morgan went silent, which led to 18 accounts with total funds of $186,000 being frozen.

The stylistic similarity of the different accounts enabled investigators to go over the chain of transactions one by one until they established a link. Several of these were transferred to accounts opened in 2015 under the name of LICHTENSTEIN on a US-based cryptocurrency exchange (VCE5).

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Since Lichtenstein used his driver's license to open accounts on the US crypto exchange, investigators were able to ascertain the suspect's identity along with other profiles and accounts in the United States. It emerged that Lichtenstein had created a fictitious company named SalesFolk that had been allegedly accepting cryptocurrency as payment for the provision of services. Further analysis of the transactions confirmed a direct link between the funds stolen from Bitfinex, which had flowed through an elaborate chain into Lichtenstein and Morgan's bank accounts.

At one time, the fraudsters started to believe they were invulnerable and started using Cluster 3686mu to make purchases with cryptocurrencies, cutting the chain short in the process. For instance, on 3 May 2020, a Walmart gift card worth $500 was purchased using the account. The IP address used was altered, but security services sent a request to the cloud provider to reveal the owner and their e-mail address, which led directly back to Lichtenstein. A new iPhone was also purchased and delivered to the couple's home address.

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Once sufficient evidence had been gathered against the couple, the security services secured a search warrant against the network provider and requested copies of all personal documentation held on the cloud. After the encrypted files were deciphered, investigators received access to all the crypto addresses in the chain, as well as their respective private keys. This enabled law enforcement to withdraw the entire remaining funds to DoJ-held accounts without the fraudsters' knowledge.

As it stands, the evidence collected is insufficient to prosecute the duo for the Bitfinex heist, but investigators are hoping to secure a plea deal in light of the 20-year prison term that Lichtenstein and Morgan face on the other charges.


StormGain analytical group
(cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on February 15, 2022, 02:50:26 PM
Inflation will see Bitcoin rise to $150,000

Due to the unrestrained monetary policy of a variety of financial regulators and rising global inflation, the leading analytical agencies are once again comparing Bitcoin to gold. Unlike fiat, gold and Bitcoin both have limited reserves.

For the past two years, the US dollar money supply (M2 monetary aggregate) increased by 38%, while the Fed's balance sheet has swollen by more than 200% through various Treasury and commercial bond purchases. Simply put, the regulator was printing additional money in order to cover state expenditures.

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It's unsurprising that US inflation is currently at a 40-year high, having reached 7.5% in January. For virtually the entirety of last year, Fed chair Jerome Powell had been calling rising prices "transitory", covering his eyes to the causal link between central bank policy and inflation. That's what prompted famous gold bug Peter Schiff to post the following Tweet: "Because the #Fed has no ability to fight #inflation without crashing the markets and the economy it pretended that inflation was transitory to justify its failure to start a fight. Now that it stopped pretending inflation is transitory [it's] now pretending [it's] prepared to fight it!"

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Schiff suggests that the only refuge from price rises is gold, while JPMorgan has noted increased institutional demand for Bitcoin as a hedge against inflation. The amount of gold on the planet is limited, and mining it becomes more and more labour-intensive with each passing year. The same is true of Bitcoin: the rising number of miners means that calculation difficulty is constantly increasing, while total reserves are limited to 21 million coins. Beyond these factors, cryptocurrency has an in-built deflationary mechanism known as halving: every four years, the mining reward for each block is reduced by 50%. This is in stark contrast with national currencies, which can be printed ad infinitum to fill budget holes.

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JPMorgan's long-term Bitcoin price target is $150,000. The cryptocurrency will only reach this level when its market capitalisation ($818 billion) is equal to that of gold ($11.6 trillion). According to analysts, high volatility is Bitcoin's biggest flaw and the primary factor delaying this process.

Bank of America shares more or less the same opinion with regard to the shift in investor interest from gold towards Bitcoin, noting reduced volatility in the cryptocurrency over time.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSiQLxCFgtQtyqkF3a9otNqywdp172ueMg1RNddPmf8hCFSFHgScHHYH8SU5QbPbWPBUcW?format=match&mode=fit&width=640)

Rising capitalisation and falling volatility are interconnected processes. As the market matures and the number of participants grows, both decentralisation (stability) and capitalisation will increase. At the same time, a legal framework is beginning to take hold in the crypto industry. All of this provides inertia that will make Bitcoin less volatile.


StormGain analytical group
(cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on February 17, 2022, 08:13:27 AM
Launderers who took Bitfinex for $5.2 billion planned to flee to Ukraine

From our previous article detailing the calculating methods of this fraudster couple, the thing that surprised our readers the most was their utter fecklessness. For one thing, who buys gadgets with stolen crypto and then has them delivered to their home address? However, the latest revelations from their trial would suggest that Lichtenstein and Morgan simply didn't manage to pull off their plan in full.

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US citizen Heather Morgan studied monetary policy at Bilkent University in Turkey, going on to pursue an MA at the American University in Cairo after graduating from her Bachelor's course. Ilya Lichtenstein, for his part, has dual US and Russian citizenship. Relocating abroad wouldn't have been a big deal for this couple at all, but what they were actually planning was to escape the watchful eye of Big Brother for good.

The investigation's deciphering of Lichtenstein's personal archive led to a file entitled "passport_ideas", which contained links to various counterfeit passport sellers on the darknet, as well as plans, scanned documents and user account records from Yandex.Money (YooMoney as of September 2020). The couple visited Ukraine in 2019, after which the files with counterfeit documentation were edited multiple times. A transcript showed how one seller had offered to check the status of the document via the Ukrainian Federal Migration Service: nd.dmsu.gov.ua.

Another file revealed in detail methods of receiving mail anonymously via the Ukrainian postal service, including information on the locations of video surveillance cameras in post offices. A search of their apartment found a bag labelled "burner phone" and a Kievstar SIM card.

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Investigators used these grounds to have a New York court's decision to grant bail overturned. After several hours, a District of Columbia judge approved the request due to Lichtenstein and Morgan being significant flight risks.

The Bitfinex crypto exchange heist saw 120,000 bitcoin stolen, which was only worth $70 million before 2017. This explains why the pair only began taking active steps to hide their identity in the last four years.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYShfwqFDgBov9AEsa4e1DeW1F5QTvhhyzyBdiCEJ8GY1CLNUa7SxhotGpYtayYRYrC47PC?format=match&mode=fit&width=640)

This story will soon be the subject of a TV drama: Netflix has ordered a multi-year series on the motives behind "the biggest financial crime in history". It's possible that TV decides to give Lichtenstein and Morgan a less mundane ending.


StormGain analytical group
(cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on February 18, 2022, 09:14:53 AM
Cryptocurrency recognition on the rise: from Belarus to the NYSE

The media is positively febrile with reports of the Federal Reserve's impending monetary tightening, with a correction forecast for the entire financial sector, including stocks and crypto. However, because of its relative youth, the cryptocurrency market's level of adoption will prove a more influential factor than the strength of the US dollar or cheap price of credit.

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While the debate in Russia continues between the central bank and Ministry of Finance as to the status of cryptocurrencies, the Republic of Belarus is putting the finishing touches on a legal and regulatory framework for the circulation of crypto assets. As such, a government decree dated 14/02/2022 provides for the creation of a registry of virtual wallets used for criminal activities.

"Belarus is seamlessly developing a legal and regulatory framework for activities associated with digital assets, and in contrast to many other governments, it permits the free circulation of digital currencies. At the same time, this requires constant monitoring of the situation and, where necessary, supplementation and clarification of regulatory standards".

The cryptocurrency sector's emergence from the shadows began on 21 December 2017 with the signature of Decree No. 8 "On the development of the digital economy". Several licensed cryptocurrency exchanges currently operate in Belarus, while the tax holiday on these assets has been extended to 1 January 2023.

Also in 2017, JPMorgan CEO Jamie Dimon called Bitcoin "a fraud". However, just one year later, the bank began testing its own crypto platform before releasing JPMCoin shortly thereafter. In 2022, JPMorgan became the first credit institution to open an office in the Decentraland metaverse. "In time, the virtual real estate market could start seeing services much like in the physical world, including credit, mortgages and rental agreements," said a recent JPMorgan report.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSkTWjkCZzkBhg3yCQcdcdAPcWLBMPv5sgfWrAL3MZhpHeoZh2ZFeSEMY6UhU8Kx764nu4?format=match&mode=fit&width=640)

The New York Stock Exchange sees just as much potential for development in the crypto industry, too. On 10 February, the NYSE sent an application to the US Patent Office to register a trademark for an online NFT marketplace. It would appear that the exchange is planning to launch a competitor to OpenSea, Rarible and Magic Eden. The NYSE's interest has no doubt been influenced by the phenomenal growth of the NFT market from $33 million in 2020 to $12.5 billion in 2021.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYScgJVuuEdQ9ScY3WMj2QiZ3Xrcr9weJ1D9hDWpV6vFvuVKjmCCvNrcVzgGBCJJRDfxnPY?format=match&mode=fit&width=640)

Bitcoin had a bullish year in 2021, and net investment inflows into crypto funds reached $9.3 billion (a 36% YoY increase). All that happened despite the ban on crypto transactions and mining in China (the world Bitcoin hashrate leader). After all these trials and tribulations, the Fed's rate hikes are unlikely to pose a significant threat to the cryptocurrency market.


StormGain analytical group
(cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on February 21, 2022, 10:08:51 AM
Metaverse starter kit: what you need

The metaverse continues to generate hype as a vehicle for crypto investment and projection for the future of the internet, but there's actually a lot you can do with it right now. Multiple virtual worlds already exist for gaming, business, socialising, creativity, investing and more. Because the modern concept of the metaverse proposes cryptocurrencies for governance and virtual economies, exploring the metaverse can be a great way to meet and connect with like-minded people, i.e., crypto enthusiasts, gamers, tech enthusiasts, innovators, etc. So, what do you need as an early adopter to enjoy the metaverse today?

Virtual reality headsets

To have the most immersive metaverse experience, a VR headset is a must. Although this hardware sector is seeing an increase in sales and adoption thanks to interest in the metaverse, it's actually been around for a few years. Now, however, it's now much more accessible to the average consumer. Higher-end VR kits tend to cost around $1,000 and require setting up base stations in the room you intend to use them in, not to mention a powerful PC to provide the best graphics. For that price, you'd be well-equipped for the most visually impressive, smooth metaverse experience possible. However, there are more affordable models around the $400-$600 range that have built-in tracking cameras and don't necessarily need to be tethered to a computer. These sacrifice some visual and tracking details for convenience but are a good way to start in the metaverse while we wait for the top-level tech to be refined.

Whatever your entry point, a VR headset and controls will allow you to experience the most exciting part of the metaverse — interacting in virtual spaces with your own hands and eyes, picking up virtual objects, walking around digital land and buildings, playing games and, of course, interacting with other people's avatars.

Your smartphone

For those to whom full VR immersion seems too uncomfortable or expensive, there's still a lot of metaverse interaction to be had through the handy piece of hardware that we all carry in our pocket. And no, we're not talking about strapping your smartphone screen to your face with a cardboard frame. Thankfully, smartphone-based VR is no longer something that companies are trying to push on us. Instead, you'll want to look at your smartphone's AR capability. AR, or augmented reality, is kind of like VR's little sibling. It uses your smartphone camera to overlay digital objects over the real world. This technology saw its biggest success in the last decade with the global phenomenon that was Pokemon Go, and when it comes to showing off your NFTs or blockchain multiplayer games, AR still has huge potential for another hit, letting you view metaverse elements without wearing clunky VR glasses.

Even without AR, many metaverses also allow access via mobile apps. Even digital lands and VR chat rooms can be browsed from your smartphone in a limited form. Although you'll miss some immersive and interactive elements, the everyday smartphone still offers easy metaverse access.

A meta identity

The cyberpunk sci-fi stories that inspired the concept of the metaverse had their protagonists escape from reality in virtual worlds, and that came complete with virtual identities. Online usernames and profile pictures have always been a part of the internet, but the metaverse takes it to a new level. You may have to consider the look of a full-body life-size avatar! If you're looking to build a brand or business in the metaverse, even with the power to look like whatever you want, you might want something that is consistent and appealing. Put some thought into your online appearance (and your name) and how it could be represented across multiple platforms. Will it be realistic? Fantastic? Based on your prized NFT or favourite crypto meme?

A place to hang out

We all have our favourite places to relax and socialise in real life, and the metaverse is no different. Different metaverse platforms have different expectations, social rules, and 'atmospheres'. Browse the available apps and think about your preferences. Do you prefer to play online games with others or hang out and share memes with weird avatars in VR chat rooms? Perhaps you prefer to spend time chatting with metaverse investors in their houses built on plots of virtual land? Whatever you choose, the interaction with others will elevate the metaverse over just another VR game.

NFTs

NFTs are becoming popular as speculative assets and digital collectables, but the metaverse is where owning a digital object will actually mean something—clothes, homes, weapons, etc. As such, the early days of the metaverse represent an opportunity to claim items that could become more rare or valuable later. Ideally, the NFTs you acquire should have some value in the community of the metaverse you acquire them from so that you don't have to rely on speculative marketplaces.

Metaverse tokens

Metaverse tokens are cryptocurrencies used in the metaverse, but which one? Although many metaverses may use tokens for purchasing digital items, player rewards and contracts or for governance rights, the fact is that digital tokens are often not interoperable or exchangeable between platforms. For the time being, they have to be exchanged with more commonly used cryptocurrencies or fiat currencies. Although metaverse tokens can usually be acquired in the platforms (e.g., through play-to-earn models or as an early adopter bonus), they can also be purchased outright for an advantage.

Get a head start in the metaverse with StormGain

Getting your hands on the right metaverse tokens in the early days can be key to profiting from the next evolution of the internet before the market becomes crowded. StormGain offers the best conditions for buying, selling and exchanging some of the most interesting metaverse currencies right now. Trade SHIB, AXS, ENJ and more with high leverage, low commissions and fantastic perks. New to StormGain? Sign up in just a few seconds and find out what the world's best crypto platform can do for you!
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on February 22, 2022, 10:17:19 AM
Is the supercharged NuMiner 440 ASIC an investor illusion?

On 3 February, Sphere 3D announced it was buying a new fleet of highly efficient NM440 ASICs for $1.7 billion. After this information was released, the company's share price shot up 40%. However, the latest information would suggest that this is nothing more than an illusion, "the presentation of something that is within reach, tangible, but which does not in fact exist". In the event of the immediate expansion of its computational arsenal, Sphere 3D will become the biggest publicly traded Bitcoin miner on the planet with a 16% share of the global hashrate — a promise that had many investors sold on the company.

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The announced energy efficiency of the NM440 is 20.2 joules per terahash, which is 4.5 times better than existing models and 36% better than the Antminer S19 Pro+ Hyd, which is due to go on sale in early autumn. The S19 Pro+ Hyd owes much of its positive energy efficiency characteristics to its water-cooling technology. It is thus unclear how the NM440 will deal with heat transfer given its apparent lack of a water coolant circuit.

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All that the crypto community has actually been able to get its hands on is marketing hype and a graphic mockup of the fabled ASIC. But this appeared to have been stolen from Cerebras, and the presentation model even revealed the sign of another firm's logo. Following complaints, NuMiner deleted the image from its website, saying that it was "drawn for marketing purposes".

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSdxavhRqWBDD2BuS9QxDXW1RtD2rrW2yDYJQX97rRNBXW8xq5WKsQRAZLRL8CwMyL8VF4?format=match&mode=fit&width=640)

CoinDesk has sent several requests for comment to the technical partners and laboratories named in the presentation. Taiwan Semiconductor Manufacturing (TSMC) could not find NuMiner in its list of direct clients, and Xilinx reported that it had supplied five chips through its distributor network. Xilinx later demanded that NuMiner delete its logo and other mentions of the company from its website and presentation.

It also looks like a similar story with the laboratory that supposedly performed full-scale testing on the ASIC. The presentation named TÜV Nord as the BACnet certifier, but the German institution refuted these claims. NuMiner then admitted that there was a mistake in its promotional materials, and the laboratory that actually performed the BACnet certification was BTL Inc. However, BTL was also unable to find the NM440 in its list of tested equipment and requested to see the report's ID number.

It's still too early to make any definitive conclusions. Perhaps NuMiner made a mistake in their presentation or was afraid to reveal its unique design in the form of a photograph, or maybe the laboratory was the one to blame for the misunderstanding. But it isn't just the headline-grabbing results and the announcement of the biggest deal in the history of mining that is casting the shadow of doubt on the company. Legal trouble involving one of Sphere 3D's subsidiaries and the indictment of two of its directors on charges of "securities fraud" and "misrepresentation of information to investors" are also matters of concern.

Will this super-efficient ASIC see the light of day, or has it all been nothing more than window dressing? Investment firm Volt Equity is so certain that it will be option two that it has opened a short position on Sphere 3D.


StormGain analytical group
(cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on February 25, 2022, 07:23:43 AM
Bitcoin accumulation is close to its record high of 60%

For any state currency, leading growth factors are a strong national economy, high demand for goods from abroad, international authority and the confidence of its citizens in the future of the country. The future of decentralised currency Bitcoin is not dependent on national ties, which is why the key driving force behind its growth is the faith of the community, propagation rate and crypto adoption.

(https://steemitimages.com/p/9vWp6aU4y8kwSZ9Gw15LFL3aMdhmgmBBFMpDJregpdP329acXzxCvxVMbTKAsoY4S719YRaAExpJGRXWERbkrBLvNUcujxnrziQNBzmBH75xcfdJvAcrvFReV669J2xGpgw6THFh9t1LgHjKU?format=match&mode=fit&width=640)

Since Bitcoin is recognised as a store of value by most analytical agencies, one of its key metrics is coin accumulation. The more people believe in future price growth, the more they will actively hold Bitcoin in their wallets. According to the latest data from Glassnode, the share of coins that have not moved in one year or more exceeds 60%.

(https://steemitimages.com/p/9vWp6aU4y8kwSZ9Gw15LFL3aMdhmgmBBFMpDJregpdP328nqrGtwutczjwekra89G4CcWHnouWcXHeu3h48ifbNttVuNz59HTWsPgCseteBQyUHGcLXYrr19prWHARqHioZs1daLdfjARKV9x?format=match&mode=fit&width=640)

The longer coins remain motionless, the duller the colours used to show them on the chart are. Every subsequent correction (i.e., the sell-offs of 2018 or 2021) causes a reduced supply flow to cryptocurrency exchanges since fewer and fewer coins are changing hands. Mining is still going on, but 90% of all coins have already been mined.

Due to the overwhelming HODLer sentiment, crypto exchanges are seeing capital outflows of 42,900 BTC per month.

(https://steemitimages.com/p/9vWp6aU4y8kwSZ9Gw15LFL3aMdhmgmBBFMpDJregpdP328DNFT3vFk8yy8fSG399RFjKTgvbbcem9RTDRsuR2EaZrXECdyTuPRWTB38ULbKoY6tQYtX6CKaKmmQAaej4fEsXoqxj76YzR8nGv?format=match&mode=fit&width=640)

However, accumulation and faith in a bright future alone are not sufficient to turn the tide from correction to growth. Investors have been presented with several challenges in 2022: monetary tightening from the world's biggest regulators, an escalation of the conflict on the Russia-Ukraine border and rising inflation across the globe.

And the data suggest that an exit from the current correction is unlikely. As such, Peter Brandt projects that Bitcoin will hit a new all-time high in the next 21 to 40 months.

(https://steemitimages.com/p/9vWp6aU4y8kwSZ9Gw15LFL3aMdhmgmBBFMpDJregpdP329SkTU46krNjxAq4RXPcgf4pMqndP32uyxNk39i5Bt4LyVSRJMcCPsA2U5iF5Uue4naGjM75o8dWPEQNyusikfHPFHq2hB5XNq6cv?format=match&mode=fit&width=640)

If Brandt is correct, we won't see a new all-time high before August 2023.


StormGain analytical group
(cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on March 01, 2022, 01:22:27 PM
Is Web3 the Key to Mass Crypto Adoption?

Web3 is one of the most bandied-about buzzwords in the tech sphere right now, especially in the crypto space. If you believe the hype, this upcoming blockchain-based upgrade of the Internet is what will move cryptocurrencies, NFTs, DeFi and VR from niche environments to mainstream adoption. Web3 is being promoted not only by forward-thinking startups but by big tech giants such as Meta. Although we're still in the conceptual stage, the involvement of major players confirms that something is definitely developing in this area. So, what exactly is Web3, and why is crypto essential to it?

What even is Web3, anyway?

The Internet as we know it now, or Web2, has certain issues, especially with privacy and the undue influence of huge, near-monopolistic companies. It's a far cry from the anarchic early days of the technology's conception, which was a vehicle for largely anonymised free sharing of information and user-generated content (as in, users would make their own websites, communities and platforms, not provide content for existing social media platforms). Today, a large section of the Internet is captured by platforms that extract value from the data and content made by their users.

Web3 can be seen as an attempt to break the control of mega-platforms and empower individual users and organic communities. Effectively, we're talking about building a decentralised Internet based on privacy, peer-to-peer sharing and democratic governance outside of powerful platforms or intermediaries. Does that sound familiar?

Where crypto comes in

The crypto space already provides models for this kind of organisation, made possible by blockchain technology. For example, the use of crypto tokens for governance used in DeFi and DAO projects, smart contracts for collaborations and encrypted but publicly-accessible blockchains for security and privacy. Blockchain provides the necessary tools to build trustless, direct peer-to-peer collaboration and democratic control of platforms. It's also impossible for a single entity, even a large one, to completely take it over.

Add to that the fact that Web3 also includes the development of 3D digital environments and VR/AR interactivity, and crypto becomes even more useful for Web3. NFTs can track ownership and rights to digital objects and let users conduct business with them. In a truly free Internet, even crypto tokens as currency can limit the influence of governments and banks, making the Internet less vulnerable to, for example, political crackdowns and sanctions. This scenario lines up neatly with the ideology behind the creation of Bitcoin (BTC): to create a digital peer-to-peer medium of exchange outside institutional control.

With the transition to Web3, the use of crypto will have evolved far beyond the limited capability of Bitcoin today. Almost 5 billion people use the Internet every day, and in the 10+ years it would likely take to implement Web3, this would mean billions of people using blockchain and crypto as part of their daily lives. This can include the use of crypto as payment to peers around the world, for governance in online platforms or as NFTs for the metaverse avatars and lands.

Some cryptocurrencies already involved in Web3 use cases include Filecoin (FIL), Chainlink (LNK) and, of course, Ethereum (ETH), all available on StormGain along with 40+ crypto instruments.

Can mainstream crypto adoption happen without Web3?

Crypto has reached a new wave of popularity since the COVID-19 pandemic, but there are only so many people who will be attracted to crypto for pure speculation, and this interest will eventually peak.

To truly go mainstream, crypto needs to offer the masses a use case beyond trading for profit. As it currently exists, crypto also suffers from serious scalability issues, a problem that most new blockchain projects cite as one of their major goals to solve.

To overcome the issues of adoption and scale, a large number of resources, both monetary and human, need to be applied to the problem, and that will only happen with a desirable end goal, such as Web3.

These are still the early days, and there will be many competing visions of Web3s development, including from Meta and other big tech platforms that the more privacy-oriented elements of the crypto community will be wary of. Governments that wish to foster the development of the tech sector in their own countries while seeking to regulate crypto operations will also play a part. Whatever the eventual result, all agree that blockchain and crypto will be at the centre of the project.

How to prepare for Web3

The long-term investor should ask themselves, "What will the crypto ecosystem look like in the next decade? Which projects are likely to survive and develop promising use cases?" It will be important to keep an eye on the crypto market, tech industry news and governmental regulation to judge the changing situation and make trades accordingly.

StormGain provides the best perks for trading crypto pairs in both rising and falling markets, with cumulative loyalty rewards, analytics and even a free Bitcoin cloud miner all in one easy-to-use app. Whether you're looking to bet on the future of Web3 or build a crypto portfolio to profit from, try StormGain today and see what the best crypto trading platform can do for you!
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on March 03, 2022, 10:12:18 AM
BTC/RUB close to all-time high

The sharp decline of the Russian rouble has provoked a frenzy on the crypto market: on 1 March, the daily BTC/RUB turnover reached 1.5 billion roubles, with one Bitcoin now costing 4.4 million roubles.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSrqALWHsv4HtbFF2inkmyffW86Q6nVcjY5oxkXjtUUrfFsFCbJ7KaiBLoQ7rtiQUAYMJv?format=match&mode=fit&width=640)

The stablecoin Tether is seeing similar demand growth, and the daily volume of USDT/RUB is now in excess of 1.3 billion roubles. Robust demand for cryptocurrencies from Russian and Ukrainian users has seen Bitcoin rise 29% from February lows.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSgxyYJPtJtkDKP6NWpcVqXBQd5a3zkTqp1hCzJijCTU5C4yQXRoVjiP8SNShxPNnXZbdx?format=match&mode=fit&width=640)

Global data also suggest that further growth is on the horizon for Bitcoin: despite a significant pullback from all-time highs, exchanges are not seeing major inflows of cryptocurrencies of the kind that would signify a sell-off.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSu5fsMC3jm98azPHgUEuTLo78gHDCpgNPiFJDXfXpRndPVdHn9kAFVWgPdAPrVETF9Uge?format=match&mode=fit&width=640)

The biggest losses have been sustained by investors who bought Bitcoin during the last three months. For long term HODLers, this correction is no reason to exit the market. What's more, HODLers are continuing to increase their volumes, with the number of BTC that haven't moved in the last three months currently sitting above 335,000. The last time we saw this level was in June-September 2021, and it was then followed by a new rally.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSfPLAhAbpwBCZ5tYCW2TUVBdBC825hSjJcrruK38Rd2iyX1N2S34qEFZLgsaMTpadVxp6?format=match&mode=fit&width=640)

In its note to investors on 25 February, Bank of America pointed to the unlikely onset of a "crypto winter", despite impending monetary tightening measures from the US Federal Reserve. Adoption and user activity are both on the rise, which will help increase the crypto's market capitalisation over the long term.

We would also be remiss not to discuss rising global inflation, which is pushing up energy prices and perpetuating disruptions in the supply of raw materials, replacement parts and electronic components. As Bitcoin returns to the $50,000-$60,000 range, people are beginning to speak of the original digital currency as an inflation hedge.


StormGain analytical group
(cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on March 09, 2022, 03:22:07 PM
A Top 10 coin is preparing to hit a new all-time high

Individual market participants’ warnings of a coming ‘crypto winter’ have yet to subside as one promising network has moved to seventh place by market capitalisation, and its token is on the cusp of setting a new all-time high (ATH). The coin? LUNA (Terra).

LUNA is the native coin of the Terra project. It has a floating exchange rate and is algorithmically linked to the network’s stablecoins, such as UST. If demand for stablecoins increases, LUNA validators receive an additional reward. With a drop in demand and excess coins, the system burns part of them. Algorithmic stablecoins are seeing increased interest in them since their issuance is not tied to the issuer’s whim. In other words, more of them can’t be ‘printed’ to extract more profit.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSj1qPJeX3GCwnDCXeGRGGg9ySDE3qXsx367DfL4nTG6HF6yqDDooDv7P7ReHF2KLvAq1G?format=match&mode=fit&width=640)

LUNA’s drop in value during the winter was due to the crypto market’s overall correction as well as with problems with one of the project’s partners, Daniele Sestagalli. In January, the public became aware that Sestagalli had hired Michael Patryn (aka Omar Dhanani), who had been repeatedly convicted of fraud, as Wonderland’s financial manager. We discussed the scandal in detail in an article. Because UST was indirectly affiliated with Wonderland, it was also sold off and stress-tested.

LUNA’s current growth is due to both confirmation of the network’s resilience and increased interest in the Anchor DeFi platform. Anchor is built on the Terra blockchain and offers passive income for staking stablecoins. Over the past six months, Anchor’s total value locked (TVL) by users has risen from $2.5 billion to $11.7 billion, propelling Terra into second place in the overall DeFi standings this year, behind only Ethereum.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSjhfgzXSzZcvv2JsRk87KBFNzT4qrL4LQPh6ywnWVcYYrYhdADhRmgeXYpAmN32g6TRmG?format=match&mode=fit&width=640)

In terms of total market capitalisation, Terra has risen to seventh place this year, threatening to overtake Ripple in the coming days. In addition, UST holds first place among algorithmic stablecoins, with a market capitalisation of $13.4 billion.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSfPWzaEorgSPWLWMgCkUrbPjyNjno9PpEScnY4QGinaFy2vUQrgkds9rKDTZzLArLUBvv?format=match&mode=fit&width=640)

Ripple and Terra both have the same goal: both projects aim to become the key link between fiat and cryptocurrencies. The primary difference between the two is that Ripple is a centralised network burdened by complaints from US regulators. Terra, on the other hand, is a decentralised blockchain protocol with algorithmic stablecoins.


StormGain analytic group
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on March 11, 2022, 05:10:52 PM
Ethereum's DeFi market domination is under threat

Thanks to smart contracts, the non-fungible token (NFTs) and decentralised finance (DeFi) segments of the crypto economy came into existence. Ethereum enjoyed wide use as the first blockchain with full-fledged smart contract support. However, as smart contract adoption and integration grew, the burden on the network rose to critical levels. This led to a record rise in commission market-wide.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSrCj45jvPYdhXidQjgyUgfoPQjA6HxBuLrgCKDAaYr4aYvxnkhcQRcKN2s8oWXHmmvDvn?format=match&mode=fit&width=640)

Ethereum is based on a proof-of-work protocol, where miners are responsible for a cluster of transactions in the block. It takes an average of 13 seconds to insert a new block into the network. Since each block contains 100-200 transactions, this equates to around 12 transactions per second, which doesn't meet current user needs.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYStw4vLVo7Q51csJCt86Tkyd9cYjCZZhQQ7Y3J7VUu7ucW2FEDjmGUa5rrxHrJ6b3mjFSv?format=match&mode=fit&width=640)

The slow network speed and high commissions led to the emergence of competitors who ditched the clunky proof-of-work model for a proof-of-stake protocol. For example, the Terra blockchain processes over 1,000 transactions per second with a commission of 0.1 to 1.0 SDR (1 SDR = $1.40). This year, Terra stormed to second place in the DeFi market in terms of the volume of stacked funds, acquiring a 10% market share. Meanwhile, Ethereum continues to lose ground and will soon account for less than 50% of the market.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSemYPKMBTarSZZ8r3reWHhkLRW7eWBH1TQP2P8eUFBkZtY33q1pyqHSV7NRXRoDKvKYxv?format=match&mode=fit&width=640)

Ethereum's loss of standing is reflected in the cryptocurrency's value. As such, the LUNA coin from the Terra blockchain has already recovered from its winter correction and is preparing to test its all-time high, while Ethereum's recovery is lagging behind even Bitcoin.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSjivHEV31SPxSZuKivXQkL3RZnaMSMYRD4BThvsy4P4zveZgfeybg9BrzPkuY56VQ5b4a?format=match&mode=fit&width=640)

Ethereum remains the only decentralised network with smart-contract support, but its market share is gradually being chipped away by faster blockchains. The transition to proof-of-stake could steady the ship for Ethereum as its two network branches (ETH and ETH 2.0) merge, with this move planned for Q2 2022. However, this development seems to be delayed every year, which is prompting new projects to turn their back on Ethereum as a base blockchain.


StormGain analytical group
(cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on March 14, 2022, 08:08:41 AM
Music in the metaverse? How Snoop Dogg and Death Row could open up a new market

Music NFTs could be poised to disrupt both the recording and crypto industries. This movement is spearheaded by hip-hop legend Calvin Broadus Jr., better known as Snoop Dogg, who may turn the iconic Death Row Records into a non-fungible token (NFT) label, according to comments by the rapper on the social media platform Clubhouse on 15 February.

"Death Row will be an NFT label. We will be putting out artists through the metaverse and a whole 'nother chain of music," said Snoop Dogg in a call via the Clubhouse social media platform in February. "I want to be the first major [record label] in the metaverse".

Snoop Dogg is well-placed to make his ambition a reality. The star rapper recently acquired ownership of the label, just ahead of his Super Bowl halftime performance, where he performed along with fellow hip-hop stars and collaborators Dr Dre and Eminem.

Snoop Dogg gets high-tech

The image of the gangster rapper doesn't fit with stereotypes in the tech scene, but Snoop Dogg has been active in new technologies for a long time. The rapper has streamed video games and made cameo appearances in many. But Snoop's not just playing around. The hip-hop star was also an early investor in RobinHood and Reddit back in 2014 and pioneered making Bitcoin (BTC) a viable payment option for purchasing his albums. In 2013, he also publicly backed Dogecoin (DOGE), naturally.

So it's no surprise, then, that this tech-savvy rhyme smith is making inroads into the NFT space. Snoop Dogg's NFT journey started as a collector. He claims that his personal NFT wallet holds multiple Meebits, CryptoPunks and Fidenza NFTs, with one notable CryptoPunk (no #3831) currently worth $2.57 million on its own.

The rapper has also released several NFT collections using his own image of music. On 9 February, he partnered with Gala Games to launch the Stash Box, an NFT series connected to the songs on his latest album, Bacc on Death Row. The NFTs have already grossed more than $50 million in sales. Earlier this week, he dropped a collection of thousands of Doggie voxel avatars, inspired by his appearance and personal style, in The Sandbox metaverse platform. The avatars are divided into various formats and rarities to entice collectors looking to stand out in the metaverse. Snoop himself has purchased real estate in the Sandbox, where plots of lands can cost hundreds of thousands of dollars.

But it's Snoop Dogg's latest NFT venture — a set of songs on the NFT marketplace OpenSea — that could represent a more significant change for the music industry.

A game-changer for remixes

The NFT collection is a series of 'Mixtapes' with names like Dogg on it: Death Row Mixtape Vol. 1' and  Death Row EDM Vol. 1. The songs are appropriately blockchain-themed, directly referencing Bored Apes, Dogecoin, OpenSea and crypto culture. The audio files are even linked to images from the Bored Ape Yacht Club and Mutant Ape Yacht Club, but the most interesting thing about them is how the tracks are split up.

Versions of new songs are split into files that have only the instrumental track, only the vocal track (a capella), or some combination thereof, whether with parts of vocals or the complete song. Each track version comes with a limited amount of tokens. For example, the vocal track for 'High' has a cheeky 420 tokens.

The description for these NFTs reads: "Own it. Remix it. Master it." Basically, Snoop Dogg is inviting buyers to make and distribute their own remixes for his tracks. The rapper confirmed as much on his Twitter account, saying, "You buy it. You own the rights to it all. Buy the Snoop Dogg beat? Make your own track."

Remixes and samples have been a staple of hip-hop music since its inception, but it has also raised thorny issues of rights and plagiarism, resulting in many high-profile lawsuits in the music industry, and not just with hip-hop. Even star artists like Jay-Z, Kanye West, Kendrick Lamar and Nicki Minaj have found themselves in legal trouble over samples.

A new way forward for digital ownership?

In addition to the issue with unauthorised but artistically important remixes and samples, the recording industry has struggled with online piracy since the beginnings of the digital world back in the 1990s. NFTs offer an opportunity to preserve artists' rights in the digital landscape, so could they also represent a new accord between the producers of a piece of music, the fans and the remixers?

Can purchasers of these NFTs legally monetise their remixes? If Snoop Dogg fully owns his masters, then he would be in a position to give away 100% of the rights to those tracks online. But ownership of an NFT does not legally grant those rights by itself. Some kind of external contract by Death Row records that confirms that these specific NFTs function this way would be required to legally protect anyone trying to make money from their Snoop Dogg remixes.

At the moment, Snoop Dogg's OpenSea customers get a promise, rather than a legal guarantee, with their tokens. But Snoop has said he wants Death Row to become a "metaverse label", releasing NFTs alongside its music. If he is serious about this, then more explicit terms should be released to clarify things for artists and remixers.

Invest in the metaverse with StormGain

StormGain offers the best conditions for making a profit on the market for purchasing, exchanging or investing in metaverse cryptocurrencies. Trade SHIB, AXS, DOGE and more with high leverage, low commissions and fantastic perks. New to StormGain? Sign up in just a few seconds to access over 50 popular cryptocurrencies and try the free demo account!
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on March 15, 2022, 04:39:08 PM
Ripple Labs continues XRP sell-off

Eighteen months ago, Ripple was the third-largest cryptocurrency with a market capitalisation of $28 billion. Between then and now, the network's value has risen to $37 billion, while XRP has slid to sixth place on the leaderboard. This underperformance compared to the wider market is due to a combination of negative attention from regulators and a sell-off by the coin's developer, Ripple Labs.

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Ripple Labs has consistently denied any involvement in the issuance of coins. Apparently, developers David Schwartz, Jed McCaleb and Arthur Britto simply donated 80 billion XRP out of simultaneously minted 100 billion XRP. According to data from crypto intelligence agency Messari, the company has generated coins worth a total of $1.2 billion over the past four years. This was not well received by the US Securities and Exchange Commission (SEC), which deemed such a move tantamount to an ICO. As a consequence, the US regulator called for the virtual currency to be reclassified as a security. To this day, the disagreement between the SEC and Ripple has yet to be resolved, and litigation between the two parties continues.

Meanwhile, Ripple continues to use its existing coins to finance its activities. Indeed, the circulating supply of XRP has risen from 40 billion to 48 billion over the past four months, while its exchange rate has declined 50% over this same period. At the same time, around 800 million XRP (~$613 million) were put into escrow and could be added to the circulating supply in the near future.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSdveF7JuZZvWvxsd79yfjsi2FAGn8jZSF1Z58tBQpVho9pHvtJtYzG7968arMqGs8KKWE?format=match&mode=fit&width=640)

Analytics agency Santiment has also reported the prevailing XRP correction, stating that every major uptick in search activity relating to Ripple is followed by a correction in its flagship coin. According to their forecasts, the medium-term price target for XRP is $0.55-$0.60.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSu7k3s15tM9mqWvjxvRRkZHvpYni2nNHidE5Mm8DEGK8ybu766Q4vhYTnKHQxGJFmoxUW?format=match&mode=fit&width=640)

Beyond increases in supply, the US Federal Reserve's key interest rate hike (to be announced on 16 March) is also putting price pressure on the cryptocurrency. Fed Chairman Jerome Powell has already warned of an upcoming 0.25% increase, but a more significant rate change would mean an even sharper correction for XRP.


StormGain analytical group
(cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on March 16, 2022, 01:55:26 PM
Bitcoin Cash (BCH) price prediction 2022-2030

Within 2 years, Bitcoin Cash has proven to be a good investment, ranking 28th among all cryptocurrencies by market capitalisation, according to CoinMarketCap. As a prosperous Bitcoin fork, BCH is predicted to grow further. However, before we delve deep into our Bitcoin Cash price prediction, let's take a look at its history.

What is Bitcoin Cash (BCH)?

Bitcoin Cash is a hard fork of Bitcoin. It appeared in August 2017, the result of a decision of influential miners, developers, investors and users who were opposed to the SegWit2x consensus. Now, it's a P2P decentralised payment system. The idea of BCH is "a coin for everyday transactions".

Bitcoin Cash's developers decided to change the block size to enable a greater number of transactions and improve the cryptocurrency's scalability. They, therefore, increased it from 1 MB to 8 MB.

After its creation, BCH quickly became popular. Almost 1,500 blocks were created within a month. Mining pools such as Antpool and ViaBTC recognised this cryptocurrency and routed high hashrate volumes to mine BCH.

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Bitcoin Cash (BCH) price analysis

The many cryptocurrency community members, including Ethereum and Bitcoin miners, didn't readily accept Bitcoin Cash. Nevertheless, BCH has become a great investment tool. It's listed on different digital currency exchanges, including Bitstamp, Coinbase, Gemini and Kraken.

BCH's price history

It all started at about $200 for 1 BCH. Even at this rate, the cryptocurrency immediately hit the top of CoinMarketCap's charts by market capitalisation. The rate doubled the next day. The price was stable for three weeks until it rose to $1,000. The community must have been convinced that it was an intentional rise because the price immediately fell to $700.

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We can observe a long, smooth decline. In the middle of October 2017, the price hit the $317 mark per BCH. Then, there was a significant reversal that saw BCH rise to $1,600.

Following this, the market grew several times. Each cryptocurrency rose by around 400%. Some prices increased by up to 1,000%. Bitcoin Cash was at its highest level in the middle of December, with a value of $4,091 per coin.

The dark days for the crypto market started on 22 December, when each project, including Bitcoin, Waves and others, began to lose value. The price of Bitcoin Cash fell to $1,000 before seeing a big price jump to $1,500 at the beginning of May 2018, when the market went down again.

The previous winter was the worst for the cryptocurrency market due to low prices. At that time, Bitcoin Cash traded for $80. There was small growth that brought it up to $534, but the price dropped again. In May 2021, the surge in crypto prices saw Bitcoin Cash's price increase to over $1,600, the highest since it traded at around $1,800 in April 2018. But it couldn't be maintained; since then, the price has fallen back to the $500-$600 region and has even traded as low as $280 in recent weeks.

BCH technical analysis

Today, the price of Bitcoin Cash is trading close to a two-year low, and there is hope that BCH's price will recover soon.

Following the crash after the bull run in 2021, BCH has failed to recover to higher prices. It has consistently traded downwards, breaking effortlessly through several support zones and firmly establishing a bearish market.

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BCH is currently trading at $286 after a slight rebound from a two year low. The price is looking to test the nearest resistance at $364.47. While a break above the aforementioned support will be a good sign for bulls, it still doesn’t change the currently bearish market sentiment. BCH has to reclaim $700 before a good case can be made for an impending bull market.

Bitcoin Cash (BCH) price prediction for 2022, 2023, 2025, 2030

It's tough to make a price prediction for such a volatile market. Technical analysis isn't enough. Why? To understand this, take a look at human psychology and follow the latest news about all the top cryptocurrencies.

First, prices depend on Bitcoin. As it gains strength, it rushes swiftly onto the market and stimulates growth. On the other hand, it also generates a decrease for all coins. Why does this happen? People think that Bitcoin determines the market's near future.

Next, most cryptocurrencies are interdependent upon each other, often with negative dynamics and relatively independent with positive ones. When the market falls, all currencies lose their value, but during a massive rise, each coin's price grows at its own rate.

Other influential factors are:

- The latest news
- Investments from well-rated companies or persons
- Miner productivity
- The attitude of different exchanges.

We have some thoughts about Bitcoin Cash's future price. But first, let's take a look at some predictions from popular services.

TradingBeasts Bitcoin Cash price prediction for 2022, 2023, 2025, 2030

As it stands, the price prediction from TradingBeasts is a bit conservative for 2022 as they expect the price to max out at $371 for the entire year. They predict that the highest price point for Bitcoin Cash in the next couple of years could be capped at a little over $700.

WalletInvestor Bitcoin Cash price prediction for 2022, 2023, 2025, 2030

WalletInvestor says that a long-term increase in BCH is inevitable. According to previous forecasts, the future value of Bitcoin Cash could reach as high as $819, which it did back in May 2021.

(https://steemitimages.com/p/2VZXybTSZJq1AreaDn1D7Jp7ZEvgLC9TvJctofX1ChMgSZsV7ybspepGYJJMVHDLGZvfntKoJR1qy9NZcXx2qoYTbcQgJVJuxsSDLCmsdRJJ3DR1tNNA9qH3q7uVmCEvoVPvnvWJSVgTJTR6wm9NHe5RGCn?format=match&mode=fit&width=640)

WalletInvestor's look ahead is also quite reserved in their hopes for BCH gains in 2022, but their BCH price prediction for consequent years will get investors excited. They predict that BCH will grow by over 100% in one year, and by 2027, the token may be valued as high as $940 per coin.

Long Forecast Bitcoin Cash price prediction for 2022, 2023, 2025, 2030

LongForecast is still a bit pessimistic about BCH's price, especially for the coming years. They predict a rise to price levels above $300 from now until 2023. That’s where the good news ends for BCH. Their prediction suggests that the token will fall below $100, and 2027 may be an exceptionally bad year with the price reaching as low as $72.

DigitalCoinPrice Bitcoin Cash price prediction for 2022, 2023, 2025, 2030

Probably the most positive BCH price prediction, DigitalCoinPrice has predicted a very successful decade for Bitcoin Cash. They believe that in 2023, Bitcoin Cash will trade above $460, and in 2025, prices will stabilise above $600 for 1 BCH. By the end of 2027, 1 BCH will be valued above $1,500.

Bitcoin Cash overall value predictions

Predictions for Bitcoin Cash could be optimistic just because it's the most successful hard fork in cryptocurrency history today. The total hashrate is 2.544 Ehash/s. This shows that mining pools believe in the future of BCH and are trying to support it. According to CoinMarketCap, the daily trading volume is over $3 billion. So, traders believe in this project, too.

BCH's fees are low again, so it could be more stable, with people completing more transactions. This could influence the positive attitude towards cryptocurrency and stimulate a small rise.

BCH prevails above fiat in some countries, especially in Australia. Forecasters rely on future projects connected with Bitcoin Cash and predict continued growth. And with the wider adoption of cryptocurrencies worldwide, we can also see a chance for better price performance in the coming years..

(https://steemitimages.com/p/2VZXybTSZJq1AreaDn1D7Jp7ZEvgLC9TvJctofX1ChMgSZnVgxoj4LrKRXDdfcU7czqsmieUdapehFuwhyhrAWFAGjfsmsTrJpxb9vrwcyFB7DqY7YJcPKayWMBG4yBpJw9MogCJzoa1786CuRDAGRq4Y2S?format=match&mode=fit&width=640)

On the other hand, Bitcoin Cash has many problems, mostly technical issues. Just as with Bitcoin, BCH's block time is almost 10 minutes. This chain is overloaded, and each transaction processes after a significant delay.

Bitcoin Cash's productivity depends on miners' activity. The network's complexity is increasing, so miners have to spend more resources to work effectively. As a result, some of them will give up on this idea for the hashrate to decrease. This will hurt transaction rates, followed by a fall in BCH's price.

The same goes for security issues. If miners are reluctant to use their high hashing power, that 51% possibility of an attack will grow. Someone with great resources could have the ability to control the BCH chain and use it for their own needs.

How high can Bitcoin Cash go?

It depends on whether Bitcoin Cash will destroy Bitcoin. It's hard to answer this question. BCH can be scaled much higher than Bitcoin. But it still has its own flaws: security and interdependence with other alternative coins.

Bitcoin will not die anytime soon because it's needed to exchange most cryptocurrencies on most exchanges. If Bitcoin crashes shortly, the whole market will fall. While the need for BTC exists, neither Bitcoin Cash nor other altcoins can overtake the market.

Next, BCH is dependent on Bitmain, which provides the biggest support for this cryptocurrency. Because of this, BCH can't go very high. If Bitmain changes its favourites, Bitcoin Cash will lose its position.

Therefore, we can't give a forecast for the highest Bitcoin Cash price because it has many variables affecting it. However, we do believe that it will rise to $5,000 in the next five years.

BCH Price prediction today

These days, the whole crypto market is bearish. Traders are mostly selling Bitcoin Cash. That is why the BCH price prediction today is quite gloomy. In the coming days, the price may fall even further. There are some bullish reversals, but it probably won't be enough for a significant rise until more bullish momentum in the crypto market in general.
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on March 17, 2022, 12:10:58 PM
Litecoin (LTC) price prediction 2022-2030

Some investors are proud of Litecoin, while others are disappointed with it. LTC's biggest failure was in 2018. Since then, it has performed better. Still, for the most part, people don't believe in Litecoin, which is why LTC lost its positions, according to CoinMarketCap.

However, Litecoin may still provide investment potential. Analysts say that, in the long term, LTC may see its price increase and reassume its previous rank. If you're looking for a good return in 5 or more years, pay attention to this cryptocurrency.

Before we delve into Litecoin predictions and answer questions such as why LTC may be successful or fail once again, let's quickly review its history, main features and future plans.

What is Litecoin (LTC)?

For ordinary users, Litecoin is one of the most recognised cryptocurrencies in the whole market. It is also known as the 'silver crypto', while Bitcoin is gold. Newbies to the cryptocurrency market may not know that LTC is a fork from Bitcoin and is one of the oldest digital currencies. For many years, LTC was one of Bitcoin's main competitors.

A brief overview of Litecoin as of 14/03/2021:

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Litecoin comes from the words' light' and 'coin' because this cryptocurrency was founded as a simplified version of Bitcoin. They work the same way, but LTC is technologically better:

- It reduced the block time by 4 times, which allowed transactions to be processed faster.
- It uses a Scrypt mining algorithm that requires less power to create a block.

Litecoin has a big user base and significant demand on exchanges. Moreover, it's one of the most popular cryptocurrencies on the darknet.

LTC is promoted by the not-for-profit organisation Litecoin Foundation. Today, there are only two full-time developers at this foundation. The other supporters are advisors, investors and ambassadors or play other roles.

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Litecoin (LTC) price analysis

The future of Litecoin's price depends on many factors, from fundamental to technical analysis. In general, like silver compared to gold, Litecoin is cheaper than Bitcoin. The price ratio is 1:155, which is much bigger than silver's ratio to gold (1:50). Why is that?

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Litecoin is more available for buyers. LTC's total supply is 4 times greater than BTC's. Another reason for the price disparity is that Bitcoin, like gold, has better recognition around the world. Increasingly more people prefer BTC as an alternative for fiat money. What's more, BTC is a superior store of value, while LTC is better for quick purchases.

LTC's price history

Litecoin was founded in 2011, so today, its history is very long and saturated. During its first three years of existence, LTC was very popular for several reasons:

- The ability to mine with low-power processors.
- Its low exchange rate allowed people to buy the necessary number of coins in anticipation of a future price increase.
- The Scrypt algorithm simplified the mining process and increased the cryptocurrency's reliability.
- Higher transaction speed.
- Higher coin amount.
- Mining difficulty is recalculated more often.
- The increased block size reduced the possibility of transaction freezes.

These benefits attracted the attention of the cryptocurrency community. Most of them changed their priorities from BTC to LTC and began to buy the 'silver crypto'. As a result, LTC's price grew every month. From the moment of its creation in 2011 through the end of November 2013, LTC's price changed from $2 to $52.

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A correction then occurred, and its price changed from $50 to $24 (on 31 December 2013). Nevertheless, the cryptocurrency community began to consider this asset for serious investments.

The reasons for such sharp changes are ambiguous. It's not as easy to interpret the real factors for a coin's rise and fall in the crypto world. This might be due to decentralisation, the complete absence of any regulatory authority or more recognised growth-filled speculation.

At the very beginning of 2014, the situation rapidly changed. In January, LTC was valued above $20, but from February on, a downward trend became apparent. By the summer, its price was above $10, but on 15 June 2014, it passed the psychological mark of $10 and, by the end of the year, the price again dropped to $2.

The all-time Litecoin price chart from June 2014 to the end of 2017 was low but stable. There were several insignificant jumps slightly above $6, but there wasn't any large-scale growth.

In the summer of 2015, many members of the cryptocurrency community discussed a possible increase in LTC's price due to a halving of its mining block reward. It was supposed to take place in August. Accordingly, a price pump was carried out on 10 July 2015, and LTC rose to $8 before rapidly dropping down to $3 and then to $2.

For the first three months of 2017, LTC's price remained stable. The 'silver' cryptocurrency was trading for $3-$4 and didn't give investors any hope. However, in the spring of 2017, the situation changed. Litecoin exceeded $10 for the first time on 6 April. By the end of April, it was trading at $15.

This increase happened for several reasons:

- A new version of Litecoin Core was released.
- The SegWit code was implemented in the new version.
- The open-source blockchain explorer 'insight.litecore.io' was released, which can be used to develop online repositories and other apps.

Litecoin's price continued to grow until the end of 2017. Its growth was not rapid but stable, going from $4.30 to $83 in 11 months. That growth trend favourably influenced the popularisation of cryptocurrency and attracted the attention of investors again.

Then the crypto market boom came about. No member of the cryptocurrency market will forget the end of 2017 and the beginning of 2018. That's when all crypto projects saw their prices grow several-fold. Some projects had a rise up to 1500%. Litecoin also had the greatest time.

On 2 December 2017, the chart for the entire duration of Litecoin's existence reached the $100-mark for the first time, and on 12 December, the value exceeded $200. The price continued to grow rapidly before surpassing $320 on the evening of 12 December.

LTC's maximum price came on 19 December, when it hit $372 per coin. Its market capitalisation at that time was over $20 billion, thanks to the overall positive upward trend across the cryptocurrency market.

At the same time, Charles Lee made a statement that he would sell all his LTC coins for system transparency. Many members were worried that this could cause a depreciation, but there wasn't any correction.

Then the 'dark times' began for all crypto lovers. Many people began to speculate on prices, leaving the market very unstable. Every coin lost its position. Litecoin fell to $200, then to $120. The summer of 2019 was a good period for this crypto coin because it had risen to $135 per coin. However, its price fell again and traded within the range of $40 to $60 for the majority of 2020. Hope arose again for enthusiasts in early 2021; the pump in crypto price saw Litecoin regain its all-time high at over $400 to a Litecoin. The exponential growth wasn't sustainable, of course, and the price has declined ever since. Litecoin currently trades at around $103.

LTC technical analysis

In the first few months into 2021, a storm of exponential growth ravaged the crypto market, coin prices skyrocketed following BTC's upsurge, and new highs for a lot of cryptocurrencies were formed.

(https://steemitimages.com/p/EEEoA8oLaAxsTkPYAARp78o5cJA1o6Chv9x98TzCFT6v5HfToi64fJV2vq5oS5QT1VhaJSszLRJWseQZ1MQ85rEGRVUz1Aziw5Jpixnt2huUigDadQ8vroRCioqQp99HJMXmBSXJZdNoMUkdCsfpi?format=match&mode=fit&width=640)

That story is old now, and the price has declined greatly, and for a time, doom was whispered across the crypto market. Things began to look up for LTC when the price rejected a recognised support level around the $100 - $120 region. Since then, the price has tried, with little success, to climb higher. LTC is currently trading in a downward channel and looking to test the support level at $69. If this holds, it may be the incentive for bulls to drive the price out of the descending channel.

Litecoin price prediction 2018

After the cryptocurrency boom at the end of 2017, the crypto community thought that Litecoin would move up and get closer to CoinMarketCap's top 3 cryptocurrencies: BTC, ETH, and XRP. But no analyst could accurately predict the situation on the cryptocurrency market because everything happens so quickly.

Analysts relied on the information in the chart, so they concluded that a gradual rise in Litecoin's price might begin. They said that it would go slowly and that the price would either fall or rise again. The most positive forecasts showed that Litecoin's price could grow to $370.

Ideally, by the end of 2018, a 'silver' coin might be sold for $500. In addition, analysts said there wouldn't be a significant drop, given that the cryptocurrency market was in a deep correction, but that every coin would increase afterwards.

Litecoin price prediction 2019

The analysts made a mistake. Litecoin saw a small increase in the spring of 2018, but then it fell to $20.

At the very beginning, experts said of the Litecoin price prediction for 2019 that the value of any asset could not decrease continuously for a long time. Any asset that had shown a significant decrease would later show a correction. Given all of the above, the situation changed: LTC's price rose from $30 in January to $122 in July.

Analysts gave another positive forecast. They believed that Litecoin's future price would be better. The most realistic forecast was $380 per LTC. The most impressive predicted new record: $2000 per coin. However, today Litecoin now trades for $55. Let's talk about future predictions.

Litecoin price prediction 2020

Litecoin began 2020 in an uptrend that lasted until late February. The price peaked in the first quarter of 2020 at $84.50, then declined by more than 65% to set a yearly low at $25. LTC picked up slowly after that but picked up the pace towards the end of the year. In November, it had grown to levels above the previous yearly high set in February and in December, Litecoin traded above $120.

Litecoin price prediction 2021

Litecoin continued the uptrend that began in late 2020, creating significantly higher highs as it sped along in its growth. In May, it finally lost steam and fell sharply, but not before setting a new all-time high at $412.96. LTC fell by more than 70% before finding support at around $120. It tried to recover the new all-time high set in May but only managed to get back slightly above $300 before falling again to lower prices.

Litecoin (LTC) price prediction for 2022, 2023, 2025, 2030

Some analysts are making very optimistic forecasts again. Others say that Litecoin will never be great again. Why? Because there are simply so many new projects with better conditions. We'll tell you about our expectations, but let's first look at some forecasts.

Smartereum Litecoin price prediction for 2022, 2023, 2025, 2030

Smartereum forecasts held that the future of Litecoin's price was hopeful earlier last year. But now, their position is that this cryptocurrency may trade lower in the coming months. As for Litecoin's price prediction for 2025, they haven't provided a clear forecast.

TradingBeasts Litecoin price prediction for 2022, 2023, 2025, 2030

Trading Beasts has always been very realistic. Their beliefs are based only on technical analysis. They predict that LTC will not go higher than $133 and may close the year around $97. It doesn't get much better in 2023 but begins to pick up in 2024 when they expect Litecoin to trade as high as $202.

WalletInvestor Litecoin price prediction for 2022, 2023, 2025, 2030

WalletInvestor is somewhat positive with their predictions. They predict that LTC will get as high as $153.301 by 2023. Consequent years are also predicted to be positive, with LTC being valued at $352.793 by 2027.

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Long Forecast Litecoin price prediction for 2022, 2023, 2025, 2030

Long Forecast's LTC price predictions are not particularly rosy for this decade. They've predicted that the coming years will see LTC's price consolidate a lot within the $100-$160 price range. Their prediction suggests that 2023 may be the best in this decade as LTC may trade to $156 before crashing to $40 in 2026.

DigitalCoinPrice Litecoin price prediction for 2022, 2023, 2025, 2030

Probably the most optimistic forecast yet, DigitalCoinPrice believes that LTC is a great option for long term investment. By the end of 2022, Litecoin will trade close to $150. Consequent years will see a steady price increase for LTC, and $500 may be in view. This is great news for potential investors, and 2022 may be a fine time to get in on Litecoin.

Litecoin overall value predictions

In general, Litecoin has some chances for upward price movement. First, this cryptocurrency is one of the most successful Bitcoin forks. Second, it provides fast transactions, so many people will use it as a payment system. Third, mining Litecoin is easier than Bitcoin or Bitcoin Cash (BCH). If the price for BTC and BCH rises, LTC will be in better shape, too.

How high can Litecoin go?

It's difficult to predict exactly how high a coin like Litecoin can go, and with all the uncertainties facing the world right now, it'll take strong positive sentiments to return the general crypto market to bullish sentiments.

Litecoin price prediction today

LTC's price prediction today must be based on technical analysis. We've seen that bulls have found support at around $105. They have a great chance of moving LTC's price higher if that support holds long enough for market sentiment to explode once again like it did last year.

Once again: Litecoin is silver to Bitcoin's gold. That is why LTC's price always depends on BTC. Today, BTC is showing signs of recovery, so LTC may reach higher marks soon.
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on March 18, 2022, 12:07:51 PM
Whales waiting for $30,000 Bitcoin

Cryptocurrency is still considered a risky asset class, which explains the reduced interest in times of macroeconomic trouble. Rising global inflation and the risks associated with the global energy and manufacturing crises are prompting market participants to reassess their positions.

Consequently, late January saw whales (wallets with more than 1,000 BTC) increase their Bitcoin reserves, assuming a price of $40,000 and below optimum supply. Now, they have returned to active selling.

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From the current price drop, minor buyers with wallets of up to 10 BTC are sustaining activity. They are ramping up their buying in the hope that a local bottom has already formed. However, analytical reports from Willy Woo suggest the lack of a sufficient dip in the relative cost basis. Woo states, "there is still room for another drop".

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSr7jC8F2vfBcWiLpDn6WZPdJSWPBSqcEhYAeUhCMaKquyBTeuSnvz6LXtDBjsBApNuYzJ?format=match&mode=fit&width=640)

Acheron Insights editor Christopher Yates shares Woo's concerns and expects Bitcoin to fall to $30,000 on the worsening macroeconomic conditions and the Fed's policy of gradual monetary tightening.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYScZUhRkr2Rp23LB3pDAu2DAp2Sa5jKkabhY6iHyP4VW57mqCTB6EcDu5zW8ZMX5Php8DU?format=match&mode=fit&width=640)

However, the majority of market participants remain optimistic about the cryptocurrency market's future fortunes. For example, publicly-traded mining companies have announced that they are to increase their orders for new ASICs, aiming for more than a 200% increase in capacity by year-end. The biggest drive is expected to come from Marathon Digital, which is planning to raise its hash rate by 600% to become the most powerful publicly traded miner in the world. 

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSg8FGRn5JCaB2eftaC5EjrKMv5gMNvPX97EnipgHQw2FL8BwsgRNNGDh8wYroeYBK3Ujg?format=match&mode=fit&width=640)

At the same time, mining firms are in no hurry to cash in their mined coins, with several of them not only mining but also purchasing Bitcoin on the market. As a consequence, Marathon Digital currently holds reserves of 8,956 BTC, with 4,813 BTC of those purchased by the company in January 2021.

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Just today, the US Federal Reserve announced that it is raising its key rate, which could lead to a new wave of Bitcoin selling. At the very least, the whales will seek to retrieve their losses from this scenario, counting on a return to buying at lower prices.


StormGain analytical group
(cryptocurrency trade, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on March 21, 2022, 12:26:30 PM
RUNE price doubles in March

The capitalisation of the crypto market in March shrank by 5% to $1.79 trillion, leading investors to look at projects demonstrating significant growth against the grain. One of these was THORChain, whose native RUNE coin rose from $3.80 to its current $8.00 in March.

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THORChain was developed in 2018, and its testnet launched in November 2020. This is a young project that recently entered the Top 50 cryptocurrencies by market capitalisation, coming in at $2.6 billion. THORChain is a cross-chain liquidity exchange platform built with Cosmos SDK and the Tendermint proof-of-stake consensus algorithm. Its native RUNE coin is used for intra-economic transactions and to pay rewards to validators.

THORChain is maintained by a group of anonymous developers. However, with the release of its mainnet, the admin keys will be destroyed, and control is planned to be handed over to RUNE holders. The main network's launch date is scheduled for some time in 2022.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSm8rVf3AUZZHiHcq6xiyufJhWYyRrACuPutPNDkW9EMJFo4eQuoDehhDcDNnCkAr4vLDk?format=match&mode=fit&width=640)

Growth in March was driven by the launch of trading in synthetic assets, as well as the inclusion of Terra (LUNA) in the THORChain network. The introduction of the LUNA coin and the UST stablecoin provides users with even more opportunities for trading and staking. Currently, the THORSwap decentralised exchange supports six types of wallets and eight blockchains.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSryQbmztPyMyFVzKL9yKFyiHn7VoCWmrVREt7ZFsDF7URtKss6vbUGLAJroKp3XVzF7bU?format=match&mode=fit&width=640)

At the same time, THORChain remains an extremely attractive staking instrument, with the yield on some pairs exceeding 50%. The launch of the Thor Financial platform is expected closer to summer, which will add lending and borrowing tools to the ecosystem.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYStvk4mySeZdR98mfbcEdBubyw2nNEWocgyfEzN8vZhbrv4BRBwPbeFKFNPWuihJiTHSSz?format=match&mode=fit&width=640)

THORChain is a young project with ambitious plans. Recently, the developers shared the idea of launching their own algorithmic stablecoin, THOR.USD, based on the example of UST in Terra. The successful implementation of planned innovations and the deployment of the mainnet will ensure RUNE's long-term growth.


StormGain analysis group
(a platform for trading, exchanging and storing cryptocurrencies)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on March 22, 2022, 01:28:08 PM
An NFT for every human on Earth? The crypto art world's most ambitious projects

A Dutch artist has created a collection of 7.9 billion NFTs as part of an intriguing social experiment. The twist? In contrast to the collectable-friendly variations on a theme that characterise popular NFT sets such as Cryptopunks or Bored Apes, each of these NFTs is completely identical.

The artist, known as Dadara, has teamed up with RAIRtech, a digital rights management platform, to create this collection of non-fungible tokens called "CryptoGreymen" on the Polygon Ethereum scaling network.

The 'Greyman' is a character created by Dadara back in the 1990s. It depicts a suited, balding man carrying a briefcase with a world-weary expression. Although the artwork for each NFT is identical, they all carry a serial number from 1 to 7.9 billion, corresponding to the number of humans estimated to be living on Earth today.

(https://steemitimages.com/p/qjrE4yyfw5pEPvDbJDzhdNXM7mjt1tbr2kM3X28F6SraZk7unQvHX1v2ZbtaRUReGXAJgwkafDm8ieJ4DaXVFxUsgERTmPfAL3iNR1FN1rZqMDNk4WqkeEwY?format=match&mode=fit&width=640)
Dadara's original 'Greyman' character. / Source: Dadara

Dadara's aims for the project are lofty. The artist hopes that the NFT collection "can rattle the cage of consensual reality and elevate conversation". In an official announcement, he explained the concept behind the social experiment as such:

"No one specific NFT is better than another, and because the minting price is widely accessible, it will be interesting to see what value each individual CryptoGreyman holder brings".

Given how these identical art pieces go completely against the trend of collectable NFTs, it will indeed be intriguing to see what their activity in the market will be like. In addition to serving the function of a social experiment, the CryptoGreymen are also tied to a humanitarian cause. Movement on the Ground, a non-profit organisation that helps refugees learn how to set up a crypto wallet, will lock away 2,222 CryptoGreymen as educational devices. Movement on the Ground seeks to provide a ''dignified, innovative and sustainable response'' to the global refugee crisis and uses cryptocurrency and blockchain technology as a means of empowering refugees.

Future art sold as the highest-value NFT collection in history

The idea of buying futures should not be alien to experienced traders, but one of the latest developments in the NFT art world demands a leap of faith from investors. SuperWorld Artist Gabriel Dean Roberts has listed an NFT collection of 120 original works of art for sale, the catch being that the art has not yet been created. Instead, buyers purchase the art in advance.

The collection is dubbed 'Omega', or simply 'Ω', and is on sale for 50,000 Ethereum (ETH) $150 million on SuperWorld, a metaverse that also serves as an NFT marketplace. This includes Roberts' future work over the next decade and a custom Rolls Royce Ghost designed by Roberts. This project also includes a humanitarian element, as part of the purchase also goes towards 1 million trees planted and a $1 million donation to Doctors Without Borders.

In an announcement to the press, Roberts explained that he designed the collection to be "the highest-value NFT ever sold or resold," which would "disrupt the art world and change the way people see smart contracts as a tool".

Pixelmon art reveal enrages investors, boosts value of 'ugly' NFTs

Not all the news in the NFT art world has been positive lately. A wave of buyer's remorse hit the early minters of the Pixelmon NFT collection when the much-hyped metaverse platform revealed the finalised art for the project over the weekend.

As you might tell from the name, Pixelmon was a Pokémon-inspired platform, an open-world multiplayer game in which players could catch, breed,\ and trade NFT-based Pixelmons. Each Pixelmon NFT was minted for 3 Ether (ETH), equivalent to almost $9,000 today. The project raised about $70 million in the time running up to its launch when it succeeded in becoming a laughing stock.

Promotion art for the Pixelmon project had displayed competent, attractive models for the game characters and environments. However, after the launch, the artistic quality of the models was so far below what had been previously advertised that buyers were enraged and accused the developers of a 'rug pull'.

Although investors are understandably enraged at the varying quality of the Pixelmon graphics, others in the crypto community are having fun with the Pixelmon characters, some of which have achieved meme status among NFT fans for their sheer awfulness. One particularly ugly one, a turtle called 'Kevin', has increased in value by 4.75 ETH ($13,900) and inspired further NFT collections featuring the character's likeness.

Trade crypto for NFTs with StormGain

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Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on March 23, 2022, 02:13:39 PM
Ethereum outflow hits four-year high

Crypto investors hope that Ethereum's long-awaited transition to the proof-of-stake protocol will take place this year. This will save the network from expensive fees and allow it to compete with faster blockchains. Ethereum has already reduced its share in DeFi from 96% in January 2021 to the current 52%, and if Vitalik Buterin delays the move again, the network risks losing leadership in key areas.

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Based on the roadmap, Ethereum has passed through all of the stages on the way to merging the two branches, ETH and ETH 2.0, with the date listed on the official website for the event to take place in Q2 2022. In anticipation of the upcoming changes, crypto users increased their rate of Ethereum withdrawal to cold wallets, reducing the total balance held by crypto exchanges to 21.7 million ETH. This is the lowest value since September 2018. At the same time, a further acceleration has been observed in March: the weekly outflow exceeded 180,000 ETH ($512 million).

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Despite the London hard fork and transaction fee burning, the network remains inflationary. In other words, more coins are mined than burned. However, with the transition to proof-of-stake, it can become completely deflationary, which will increase the value of Ethereum.

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The price is also supported by a general reduction in supply caused by the transfer of ETH to a deposit contract. Users currently have 10.6 million ETH (worth $30bn) locked up, with about one million ETH added in the last 30 days. The total locked up amount is 9% of the entire ETH network capitalisation. It'll become available for withdrawal no earlier than the merger date between the two branches.

Locked up funds allow receiving passive income from staking. The only restriction is that you need to deposit in blocks of 32 ETH. But there are a number of services that allow you to pool smaller investments. For example, Lido provides staking with a current yield of 3.8%, and the total amount under its management exceeds 2.7 million ETH.

Interest in ETH 2.0 is on the rise – this is evidenced by both the outflow of funds from crypto exchanges and the growing deposit contract. The only question is: when is all of this going to happen?


StormGain analysis group
(a platform for trading, exchanging and storing cryptocurrencies)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on March 25, 2022, 12:53:18 PM
ETH 2.0 Approach Increases Interest in Ethereum Classic

According to Ethereum's official website, there are only a few months to go before Ethereum switches to the proof-of-stake (PoS) protocol. The date of the two branches' merger is set for Q2 2022. All intermediate stages have already been completed. This is a major event for the market, one that directly affects the second-largest cryptocurrency, which has a market capitalisation of $356 billion.

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The main change is the shift away from mining. Instead of miners, validators will be responsible for confirming transactions (the principle of proof-of-stake). The need for expensive computations will disappear, and miners won't be able to make any money. This will encourage them to refocus on mining blocks on other networks, with Ethereum Classic (ETC) at the top of the list of alternatives.

ETC was born as a result of the Ethereum hard fork at block 1,920,000 in July 2016. The hard fork was a response by founder Vitalik Buterin and most of the ETH developers to the DAO (Decentralised Autonomous Organization) hack that resulted in the theft of 3.6 million ETH. With the help of a hard fork, Buterin decided to rewrite history in order to return money to DAO investors. But not everyone supported this idea, with some calling for the code to be kept unchanged. The old branch was called Ethereum Classic, and the "Code is Law" doctrine became the main philosophical principle of the community.

Both blockchains support smart contracts, but at the same time, ETC has a number of differences from ETH, for example, the "difficulty bomb" has been deactivated, and the supply of coins is limited to 210 million. Developers supporting ETC described the basic principles of the system as such: transactions and the history of the ledger cannot be changed, and no changes will be made to the code that could violate the properties of immutability and interchangeability.

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ETC and ETH work on the same algorithm, and the daily yield of the old branch is not much less than that of the leading altcoin – $2.15 versus $2.43, with a hardware power of 84 MH/s (RTX 3080). When ETH switches to PoS, miners will switch to ETC mining. The rekindled talk of an impending move has driven ETC up 80% over the last eight days.

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For ETC, the influx of miners will provide invaluable support, as the network has experienced several 51% attacks in the past. The increased hashrate and heightened decentralisation will positively affect the network's security and create the conditions the coin needs for its price to grow further.


StormGain analysis group
(a platform for trading, exchanging and storing cryptocurrencies)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on March 28, 2022, 11:13:38 AM
Terra Driving Bitcoin Towards $50,000

LUNA (Terra) is the only coin from the Top 10 that managed to set an all-time high in March. Meanwhile, at the end of last week, Terra co-founder Do Kwon revealed plans to acquire $10 billion worth of Bitcoin to bolster UST stablecoin reserves. Bitcoin rose 7% on this news.

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UST is an algorithmic stablecoin on the Terra network and is pegged to the value of the US dollar (1:1). Unlike Tether or USDC, the company doesn't keep reserves in currency or other assets to provide liquidity. Instead, the UST money supply is linked to the LUNA coin. When there's a shortage of UST, LUNA validators earn additional rewards. If there's a surplus, an amount of LUNA must be burnt to bring the stablecoin's price back in line.

The system is well-balanced and has already proven the viability of third-party projects using UST during a crisis. However, the company decided to strengthen the stablecoin's position by adding $10 billion worth of Bitcoin to its reserves. This amount is designated as the end goal; the $3 billion held in various funds has been allocated to facilitate the first stage of the plan.

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If Terra acquires $3 billion worth of BTC, the company would become the coin's second-largest known holder in the world. At current prices, the company's reserve would total 68,000 BTC. Only MicroStrategy has more with its reserve of 125,000 BTC. Bitcoin Magazine reported that Terra has already started to boost its cryptocurrency reserves, with the acquisition of two tranches worth a combined $250 million carried out so far.

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Once the targeted amount reserves are in place, Bitcoin, like LUNA, will become a balancing coin, ensuring the liquidity and stability of UST. Do Kwon promised to reveal more details about the mechanics of the interaction between the stablecoin and Bitcoin in the near future.

Terra's main objective is to create a reliable bridge between fiat currencies and cryptocurrencies. UST is already the top algorithmic stablecoin (decentralised tokens that do not depend on a centralised point of issuance) but has a lower market capitalisation compared to centralised offerings like USDT, USDC and BUSD. The creation of the reserve will allow Terra to gain even more trust and become one of the Top 3 stablecoins in the near future.


StormGain analysis group
(a platform for trading, exchanging and storing cryptocurrencies)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on March 29, 2022, 09:13:11 AM
Don't fall for scams: the truth about Ethereum 2.0

Ethereum's much-anticipated upgrade has been hyped for a few years now, as developers on the Ethereum network work to improve the system's scalability, efficiency and security. Part of this process involves changing Ethereum (ETH) from a proof-of-work consensus model to a proof-of-stake one. Until recently, these improvements to the Ethereum blockchain were collectively referred to as Ethereum 2.0, and an Eth2 token was expected to come with it.

However, in early 2022, this changed, and crypto buyers should beware of any offers claiming to be for Ethereum 2.0. They could be scams.

According to the Ethereum Foundation, the non-profit organisation that guides the development of the Ethereum blockchain, there will be no forthcoming Eth 2.0. In fact, the 'Ethereum 2.0' name and brand, as well as the term 'Eth2', will no longer be used.

Eth2 scams

The reason for the rebranding is the existence of several scams that purport to offer Eth2 but instead contain only junk or malicious attempts to steal money (crypto or otherwise) from marks who have heard of Ethereum 2.0 but have not followed the industry carefully. Such scams will leverage the average person's FOMO to try to get them to invest in fake, unrelated tokens. One common scheme involves asking users to swap their ETH for Eth2 or migrate their Ethereum tokens to a new address.

In the ever-crowded crypto market, similarly named crypto (as often happens with forks or wrapped crypto) can confuse traders. The Ethereum foundation wants to avoid any such confusion, so it abandoned the Ethereum 2.0 brand.

Instead, Eth1 (which handles transactions and data) will be known as the 'execution layer', whereas Eth2, which runs the proof-of-stake consensus model, will be referred to as the 'consensus layer'. A blog on the Ethereum foundation website emphasises that "[t]hese terminology updates only change naming conventions; this does not alter Ethereum's goals or roadmap'. It also stresses that current ETH holders do not need to do anything to benefit from the eventual upgrade of the Ethereum network, so beware of anyone telling you otherwise!

Keeping it ETH

As for the Ethereum cryptocurrency, the foundation has confirmed that there will be no new token for the system formerly known as Ethereum 2.0. To enjoy the advantages of updates to Ethereum, traders and investors simply need to accumulate Ethereum (ETH) as it exists now and wait for the upgrade.

StormGain remains the best place to buy, trade and hold ETH, along with over 65 other digital assets. Invest in ETH before the upgrade, dive into the NFT marketplace or trade against Bitcoin (BTC), Solana (SOL), Cardano (ADA) and other cryptocurrencies with very low fees and commissions. It only takes a few seconds to register with StormGain and try a demo account to see how much money you could be making on the crypto market!
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on March 30, 2022, 05:25:25 PM
Anonymous coins go to the moon

Rising geopolitical tensions have led to increased demand for high confidentiality cryptocurrencies. In this context, the previous month saw Zcash shoot up by 109%, while Monero rose by 48%.

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The Zcash and Monero networks share virtually the same basic principles as Bitcoin: transactions are grouped into blocks, which require miners to generate them. Bitcoin, however, is a totally transparent blockchain where anyone can track movements between wallets. Anonymous coins, on the other hand, hide information about fund flows through complex mathematical methods.

Zcash uses a zero-knowledge proof protocol called zk-SNARKs that enables users to confirm transactions without revealing their value or the parties thereto. Monero operates on a different principle known as "ring signatures". The network consists of many rings, and any participant in a given group can sign off on the transaction. As a result of a process called "mixing", it is impossible to ascertain who signed off on the transaction or who sent the transaction and to whom.

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Within these sorts of networks, all transfers are performed clandestinely. Nevertheless, the confidentiality of anonymous coins has its limitations: entry and exit points. As such, amid rising regulatory pressure on South Korean exchanges in 2020, there were widespread delistings of Monero, ZCash and Dash as the authorities boosted their surveillance of suspicious payments. For example, the use of Monero and efforts to mix transactions didn't do much for the famous fraudster couple who attempted to launder the 120,000 BTC ($5.5 billion) stolen from Bitfinex in 2016.

The global spread of KYC (Know Your Client) and AML (Anti Money Laundering) policies is making it increasingly difficult to use anonymous coins for criminal purposes. This is because more and more centralised exchanges and payment systems either outright refuse to work with such instruments or only offer transfers within their own closed systems. What's more, Interpol gave up acting on complaints related to anonymous cryptocurrencies as early as 2019 since the overwhelming majority of fraudsters prefer Bitcoin.

The majority of crypto experts agree that efforts ought not to be focused on anonymous cryptocurrencies but rather on monitoring the financial activities of suspicious persons. Any wealth held in Monero will thus be irrelevant if it is impossible to prove to the tax or law enforcement authorities the source of any income following a significant purchase. This being the case, demand for anonymous coins will be largely situational.


StormGain analytical group
(cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on March 31, 2022, 03:35:06 PM
The biggest crypto heist of 2022 so far sees the thieves get away with $615 million

Cryptocurrency projects are still the targets of hacker attacks, some of which are successful. The victim this time around was Sky Mavis, whose Axie Infinity game was the most popular NFT-based game of 2021, boasting token turnover in excess of $4 billion.

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For its projects, Sky Mavis uses its proprietary Ronin blockchain, which is a sidechain of Ethereum. This network is specially designed for faster payments and lower commission. These advantages came at the price of security, with the protocol only using five out of nine validator nodes to confirm transactions. The hackers managed to crack the closed keys of four of these nodes, also gaining access to the signature of the third-party validator operated by Axie DAO.

As a consequence, the criminals managed to make off with 173,600 ETH and 25.5 million USDC, which is around $615 million at current prices. The theft took place on 23 March but only came to light on 29 March, when one user was unable to make a 5,000 ETH transaction through the Ronin bridge.

In a bid to prevent future breaches of funds, Sky Mavis has halted operations on its Ronin bridge, while the number of validators required to sign off on a transaction has been increased to eight. Due to the associated inability to arbitrage, the decentralised Katana platform was also disabled. The company assures its users that it is making every effort to get the stolen funds back and is cooperating fully with law enforcement to identify the criminal or criminals. It is also worth noting that the stolen funds have not moved since the original theft.

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We cannot, therefore, rule out the possibility that a "white hat" hacker could be behind the break-in. These kinds of hackers typically wait for the company to find the vulnerability following the break-in and then return the stolen funds (occasionally keeping a little "tip" for themselves). This allows them to avoid criminal prosecution while simultaneously shedding light on chinks in companies' cyber armour and making a name for themselves in the process. For instance, last year saw Poly Network hacked by an unknown white hat who managed to steal around $600 million in various cryptocurrencies. The same hacker later returned all the unblocked funds, including a message for the company in the transaction.

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However this particular story ends, a breach in one's defences is always bad for a company's image. As a result of the saga, the Ronin coin crashed 20%, while the AXS token is down 8%. The Sky Mavis team had previously expressed its hope that its sidechain would be used by third-party gaming platforms, but this now looks unlikely.


StormGain analytical group
(cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on April 01, 2022, 05:37:58 PM
The crypto world is going bananas for ApeCoin. Should you buy in with StormGain?

In the meme-driven crypto community, monkey business is serious business. The breakout NFT phenomenon that is the Bored Ape Yacht club made headlines, celebrity name-drops, and cartoons, not to mention millions of dollars. Now BAYC's new cryptocurrency, Apecoin, is the talk of the town. But is this crypto just a cynical attempt to cash in on the Bored Ape trend or a good investment for the future?

ApeCoin (APE) was created by Yuga Labs, the company behind the Bored Ape Yacht Club NFTs, its spinoff Mutant Apes, but the coin was actually launched by the ApeCoin DAO in order to create some distance from the original company and maintain decentralised management. The DAO will handle all things ApeCoin, with the token itself touted as a coin for "art, entertainment, events and storytelling". With that language, ApeCoin is clearly shooting for a place in the Web 3.0 metaverse and is already slated to be integrated into play-to-earn games developed by the Ubisoft-backed Animoca Brands.

The early days of ApeCoin

The coin's launch on 17 March initially gave away 15% of the total supply of 1 billion as a free bonus to current BAYC NFT holders. This resulted in a predictable sell-off of freebies at launch, which meant that ApeCoin saw considerable price volatility on exchanges. Its value surged to $40 before dropping to around $8. Most recently, ApeCoin's value surged again to around $14, following a successful funding round by Yuga Labs.

Analysts have warned investors to consider the distribution structure of ApeCoin when attempting to make price predictions. A full 22% of all tokens launched were reserved for individual BAYC founders and "the companies and people that helped make this project a reality". Yuga Labs itself holds 16%, while the aforementioned other 15% is in the possession of BAYC NFT holders. The DAO treasury holds the rest. As a result, existing BAYC insiders, affiliated companies and NFT holders have considerable influence over the whole supply. As a certain proportion of these early ApeCoin holders will be waiting to sell their coins for profit, more sell-offs may be expected in the future. The supply of 1 billion APE is fixed, and the DAO has stated that new coins will not be created and cannot be burned.

However, BAYC's strong brand and financial backing do put ApeCoin in a strong position. Should the community realise its ambitions, ApeCoin could become a valuable metaverse token.

A metaverse token in the making?

The ApeCoin DAO aims to evolve an ecosystem in which ApeCoin serves as a governance token for community decision-making and as a utility token for transactions. Building on the BAYC concept, APE holders are also supposed to gain access to exclusive digital or real-world events and items.

Although ApeCoin intends to expand into a range of gaming and entertainment products, it is so far attached to two known games. One is Benji Bananas, a mobile game by Animoca Brands, which has a board member, Yat Siu, on the Ape Foundation, the current management of ApeCoin DAO. Other Ape Foundation members include Alexis Ohanian (Co-founder of Reddit and General Partner & Founder of Seven Seven Six), Amy Wu (Head of Ventures & Gaming at FTX), Maaria Bajwa (Principal at Sound Ventures) and Dean Steinbeck (President & General Counsel at Horizen Labs). Although these members can be voted out by the community after a period of six months, there is some credible expertise and industry clout at the helm right now.

ApeCoin will also be integrated into an upcoming game developed by nWay, a subsidiary of Animoca. nWay is already known for developing fighting game titles, but a teaser image shared by the company indicates that its upcoming game will feature Bored Ape characters in their distinctive art style, similar to the Red Ape Family cartoon. If these integrations are successful, the Bored Ape brand could build a media empire that ApeCoin will surely benefit from.

Trade ApeCoin and more on StormGain

If you're looking to trade or invest in ApeCoin or other popular metaverse cryptocurrencies, StormGain offers the best conditions for making a profit on the market. Trade APE, SHIB, AXS, ENJ and more with high leverage, low commissions and fantastic perks, all in one easy-to-use app. Sign up in just a few seconds to try StormGain for free and find out what the world's best crypto platform can do for you!
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on April 05, 2022, 03:50:25 PM
Solana in OpenSea by this April

OpenSea is a major NFT (non-fungible token) platform with a turnover of more than $23.5 billion. In July 2021, the company had been valued at $1.5 billion and, by December, its market cap rose as high as $13.3 billion.

NFTs are like digital signatures that make it easy to establish who owns copyright over intellectual property, while also simplifying the making of donations and sales of goods. These tokens are most commonly used in the field of digital artworks and even the Hermitage uses them when selling its own collections.

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Initially, OpenSea only supported Ethereum, but then rising commission fees (frequently in excess of $50) led to a slowdown in activity and the emergence of competing platforms. As a result, a young project built on the Solana blockchain and known as Magic Eden registered twice the number of transactions as OpenSea despite having half the user base.

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Solana is significantly оutperforms Ethereum both in terms of transaction processing speeds (peak level of 50,000 TPS) and commission charged (less than one cent). The network is still lagging somewhat behind in terms of security and decentralisation, which can occasionally result in downtime. However, its number of nodes is rising (1652 at present) and, with the capitalisation of $39.7 billion, Solana is beginning to challenge Ripple, sending them down to sixth place in the overall rankings.

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OpenSea's ability to offer cheap transactions is a strong driver of its popularity — a quality that led to its recent inclusion in Solana's list of supported blockchains this April. Solana's addition to the list of major NFT platforms will only increase demand for SOL, with the coin gaining 16% this week alone. Solana will become fourth in the list of OpenSea blockchains, behind Ethereum, Polygon and Klatyn.

Solana's inclusion will enable OpenSea to attract more young artists for whom current commissions on the creation of NFT collections are unaffordable, while also enabling this latter to retain its top spot in the market.


StormGain analytical group
(cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on April 07, 2022, 09:52:20 AM
StormGain wins 'Best Crypto Trading Platform in 2022' from AIBC

StormGain is proud to announce that it has just been awarded the coveted ‘Best Crypto Trading Platform’ title at the AIBC, the world’s leading expo for the blockchain and AI industries. The award ceremony was held at a gala event as part of the AIBC Asia Expo in Dubai, with a guest list of over 300 tech industry luminaries gathered in a celebration of achievement and metaverse-themed music and dance performance from Cross the Ages, an upcoming Web3 game property.

StormGain CEO Alex Althausen was happy to receive the award, stating that: “When we started back in 2019 we set out to build the world’s best crypto trading platform and we are only going from strength to strength in 2022. Although the year has just begun, we are so proud to be recognised by the industry greats at AIBC, and promise that we’re ready to do even more for our clients and partners this year going forward.”

StormGain stays on top of the game

StormGain’s platform has attracted praise from trading professionals and ordinary users alike for its ease of use, 300x leverage on the most popular cryptocurrency pairs, and very low fees and commissions.

No stranger to award ceremonies, StormGain has previously added Ultimate Fintech’s ‘Best Cryptocurrency Broker’ (2021), World Finance’s ‘Best Crypto Broker’ (2021), European CEO’s ‘Best Trading Platform’ (2021) and The European’s ‘Cryptocurrency Trading and Exchange Platform of the year’ (2020) award to its trophy cabinet. With over 1 million users active on the platform and over 60 crypto instruments to choose from, it’s no wonder StormGain continues to appear in crypto industry best broker lists year after year.

What makes StormGain so special?

StormGain's mission is to continue to be the best all-in-one crypto platform for everyone. To that end, it boasts an impressive collection of features that distinguish it from the rest in a very competitive industry, including but not limited to:

- Bitcoin cloud miner that rewards you with free Bitcoin just for spending time on the StormGain platform.
- Crypto options place Call and Put option orders based on the potential future price of the cryptocurrency, trading on the price changes of a digital asset without having to actually own or hold the asset itself.
- Tokenised stocks trade company shares and precious commodities tied to crypto tokens, both to manage risk in crypto trading and to get a foot in the stock market. 
- Crypto indices manage risk with an index of 3, 5, or 10 different cryptos, designed to offer a safer investment in the market.
- New altcoins including metaverse tokens such as Axie Infinity (AXS) and Enjin Coin (ENJ), as well as breakout meme coins like Shiba Inu (SHIB), Dogecoin (DOGE) and ApeCoin (APE).
- Islamic accounts As part of our mission to make crypto trading easy for everyone, we introduced swap-free Islamic trading accounts without interest or any rollover commissions.
- Profit-sharing to make crypto trading fairer for everyone. On StormGain, commissions only apply to profitable trades.

For more information on StormGain, the company’s platform, features or awards, please visit www.stormgain.com
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on April 08, 2022, 03:00:38 PM
Best NFT coins list

In 2021, we saw explosive growth in the NFT market. But in addition to NFTs themselves, NFT-related cryptocurrencies have also posted significant gains. In this article, we'll tell you what NFT crypto coins are, how they differ from non-fungible tokens, and list the most well-known NFT cryptocurrencies out there.

What is a non-fungible token?

Non-fungible tokens (NFT) are unique digital assets stored on a blockchain, each of which is one of a kind and represents a real-world or digital object, such as a digital image, video, real estate, etc. NFTs are used as digital certificates, authenticating the objects they represent and assigning a specific set of rights in respect of those objects to the owners of the NFTs in question. You can read more about NFTs in one of our previous articles.

What is a whitelist in NFT terminology?

Because of the hype around NFT, new NFT projects tend to stir up a lot of excitement around themselves. As a result, there are too many people who want to buy the tokens before anyone else, and the number of tokens is limited. To solve this problem, NFT whitelists are used. The NFT whitelist is a list of users who get priority access to buy new tokens, participate in airdrops, and other benefits. To get whitelisted, you need to meet certain criteria, which you can find out about from the team of this NFT project, usually by joining their Discord group.

What are NFT cryptocurrencies?

Although NFT and cryptocurrencies are based on the same blockchain technology, they have some major differences. What does the term "NFT cryptocurrencies" mean in that case? Typically, the term is used to refer to tokens that, while not being non-fungible tokens, are used by various NFT platforms, most often as governance or utility tokens.

Best NFT coins 2021

NFT-related cryptocurrencies were among the biggest gainers of 2021.

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Top NFT coins in 2021

TOP NFT coins 2022

The number of NFT-related blockchain projects with their own cryptocurrencies is relatively high, and new ones are appearing all the time. Here we list the largest NFT crypto tokens by market capitalisation, which many crypto investors have in their portfolios.

Decentraland (MANA)

Decentraland is a virtual reality platform based on Ethereum blockchain. It's a metaverse designed to connect content creators and consumers, that allows its users to create, experience, and monetise content. The Decentraland universe consists of 90,601 parcels of land, each represented by NFT LAND. Virtual in-game objects are also NFT. The MANA token acts as in-game money for the metaverse. It can be used to buy any in-game assets, such as land, items or services. In addition, the token can be used to vote in the DAO that governs the project.

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MANA price statistics (as of 04/04/22)

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MANA/USD historical price chart

The Sandbox (SAND)

The Sandbox is a virtual sandbox game metaverse based on the Ethereum blockchain. Its graphics are reminiscent of Minecraft. Users are free to develop a virtual world, create real estate and objects, move around and play games. Both the in-game real estate and player-created assets are NFTs. The SAND token serves as the main utility token of the ecosystem and is used to perform all types of transactions. In addition, SAND is a governance token. On top of that it can also be used for staking.

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SAND price statistics (as of 04/04/22)

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SAND/USD historical price chart

Axie Infinity (AXS)

Axie Infinity is a popular blockchain game inspired by the hugely successful Pokemon series. The game uses the 'play-to-earn' business model. The gameplay consists of growing, selling and collecting digital creatures called Axies, and battles between them. Each of these creatures has unique characteristics and appearance and is an NFT. Axie Infinity Shards (AXS) token is the governance token for the Axie Infinity ecosystem. In addition, the token is also an in-game resource required to breed Axies. There are also plans to add the option to stake the token in the future.

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AXS price statistics (as of 04/04/22)

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AXS/USD historical price chart

Theta Network (THETA)

Theta is a decentralised video streaming network that uses the excess bandwidth and computing resources of users to improve video quality. The project addresses the main challenges of the streaming industry: reducing content delivery network (CDN) costs, optimising video streaming in high resolution and bitrate and breaking down the barriers between content creators and end-users. In addition, the developers have launched an NFT marketplace powered by the Theta Network blockchain. THETA is a governance token in the ecosystem.

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THETA price statistics (as of 04/04/22)

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THETA/USD historical price chart

ApeCoin (APE)

ApeCoin is the newest token listed here. It was launched on 17 March 2022. ApeCoin was created as a governance token for the APE Ecosystem and will allow its holders to participate in the ApeCoin DAO. APE Ecosystem was inspired by the famous NFT project Bored Ape Yacht Club (BAYC). It is stated that Yuga Labs, the creators of BAYC, will join ApeCoin DAO as a community member and will use APE as the main token in all its future projects.

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APE price statistics (as of 04/04/22)

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APE/USD historical price chart
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on April 11, 2022, 11:05:51 AM
Whales join shrimps in hoarding Bitcoin

In early March, whales (>1,000 BTC) were not on the same page as minor players when it came to accumulating Bitcoin and continued to take profits. However, their expectations of a dip to $30,000 due to the worsening macroeconomic climate and global central bank monetary tightening did not come to pass. On the contrary, interest in faster, decentralised payment solutions actually increased. This led the whales to join the shrimp (<1 BTC) in late March and start accumulating coins.

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Accumulation was particularly strong last week: the total balance on crypto exchanges fell to an August 2018 low of 2.47 million BTC, with capital outflows of 96,200 BTC per month.

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Over the last four months, the balance of accumulation addresses (with no history of spending) rose by 217,000 BTC, with this metric also excluding miner and crypto exchange wallets. The growth rate rose to 1800 BTC per day, which is two times the mining rate.

The most activity was seen among shrimps, which sucked up 0.58% of the entire Bitcoin supply, increasing their cryptofauna share to 14.3%. Whales, on the other hand, have only been accumulating coins for the last two weeks.

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Amongst whales, a significant contribution to reducing supply was made by Luna Foundation Guard (LFG) and Microstrategy. Three weeks ago, LFG announced its intention to buy $3 billion worth of Bitcoin to serve as reserves for its UST stablecoin. This comes after the company already purchased 30,700 BTC worth $1.4 billion. Meanwhile, Microstrategy increased its reserves by 4,200 BTC via its subsidiary to increase its capital reserves to 129,200 BTC ($5.9 billion).

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News of the nineteen-millionth Bitcoin being mined last week also had a positive impact on accumulation sentiment. Now, there are only 2 million BTC (10% of the total volume) left to be mined over the next 118 years. The acknowledgement of a coin deficit comparable to 30% of all US dollars printed over the last two years is only increasing interest in Bitcoin investment among the wider public. In a recent interview with Coindesk, Gary Kasparov called Bitcoin digital gold, adding that the technology enabled holders to protect their wealth from the dollar's devaluation.


StormGain analytical group
(cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on April 12, 2022, 09:51:37 AM
Avalanche losing ground in DeFi market

Competition in the decentralised finance (DeFi) market among blockchains with smart contract support continues to intensify. Ethereum has already lost 40% of its market share since January 2021, giving way to cheaper and faster alternatives. Avalanche is now having to put every effort into maintaining interest in its network.

Avalanche, like the majority of other Ethereum competitors, is based on a proof of stake (PoS) protocol, but with its own unique characteristics. For example, it uses its own subnets to increase transaction speeds: X-Chain handles assets, while C-Chain is responsible for smart contracts and P-Chain coordinates validators. As a result, according to the developers' claims, Avalanche has the fastest transaction completion rate on the market – in under two seconds.

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However, speed alone proved insufficient to support stable growth in the blockchain's usage. The total value locked (TVL) in DeFi is trending down: at its peak in December, this figure stood at $13.7 billion, while now it is just $10.6 billion. By way of comparison, Terra's TVL has risen by 50% to $30.7 billion over this same period. It's a similar story in decentralised apps, too, where the total number of network addresses was down by 16% in March.

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Reduced demand for Avalanche solutions has led to the decline in value of its native coin AVAX. From its high in November 2021, it is now trading at a 33% discount. To put things into perspective, the above-mentioned Terra blockchain's coin, LUNA, hit new all-time highs in March.

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In order to break through the negative trend, Avalanche announced last month that it was launching its own Avalanche Multiverse investment programme that would see $290 million set aside as stimulus for blockchain-based game and app development. Beyond this, some of these funds will be used to create the Defi Kingdom subnet, which will have an integrated KYC (Know Your Client) policy. The company believes that this will lead to increased interest from institutional investors. These beliefs would appear well-founded given Valkyrie Investments comments calling the Avalanche subnet with KYC "a significant step towards institutional adoption".

But what do you think, will the provision of grants for the development of new Avalanche-based apps translate to growth in the popularity of this network and its coins? Tell us in the comments section!


StormGain analytical group
(cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on April 13, 2022, 10:05:06 AM
To what extent are miners responsible for higher video card prices?

Miners are frequently blamed for the increase in video card prices, as well as for their current shortage on the market. It's true that GPUs demonstrate high efficiency when working with a range of hash algorithms, the most popular of which is Ethash (used by the second-biggest cryptocurrency by market cap, Ethereum).

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The cryptocurrency rally that began in Q4 2020 coincided with the release of NVIDIA's third-generation video cards. Ethereum's price growth, coupled with the high efficiency of the RTX 30XX model, means that the breakeven timeline is now 4-5 months. High demand for the devices has led to a price increase of 200%-300% above the recommended retail price. Everything points to miners being responsible for this price hike.

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However, it isn't just miners driving this demand growth. Designers, architects and gamers are all in need of more powerful video devices. And behind the increase in components' prices is a general shortage of semiconductors.

In 2020, the world went into quarantine, leading to an unprecedented demand for computer equipment. After that, the global economic recovery in 2021 was characterised by higher demand for automobiles. These two major manufacturing segments are directly dependent on microchip supplies. The situation got so bad that several leading automakers were forced to halt production lines due to parts shortages.

The production of microprocessors requires the use of silicon wafers. Since 2020, demand for these materials has increased by such a large amount that the world's second-largest manufacturer, Sumco Corp, announced waiting lists until 2026.

The second cause of high costs is the rising prices for gas mixtures containing neon. This gas is needed for the laser machines used in microelectronics manufacturing. Half of the world's market is controlled by two Russian companies, Ingas and Krion, both of which have encountered difficulties in doing business following the sanctions imposed against the country.

So, to what extent are miners to blame for rising video accelerator prices? AMD CEO Lisa Su estimates that they account for 5-10% of total demand, with NVIDIA's estimates appearing to support her assessment. What's more, NVIDIA has reported a decline in demand from miners in the first months of 2022 amid anticipation of Ethereum's migration to a proof-of-stake protocol in the middle of this year. After the transition, Ethereum's difficulty bomb will be activated, which will render mining unprofitable.


StormGain analytical group
(cryptocurrency trading exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on April 14, 2022, 11:07:20 AM
Cardano risks dropping out of the Top 10

Once the former number 3 cryptocurrency by market capitalisation, worth $100 billion in September 2021, Cardano may soon drop out of the Top 10. Its coin is already worth three times less than its historic high.

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Cardano's fall from its high began with the Alonzo hard fork, which provided support for smart contracts. Smart contracts are the driving force of the cryptocurrency market. NFTs, metaverses and decentralised apps (dApps) and exchanges (DEXs) are built on them. The decentralised finance (DeFi) market grew from $16 billion to its current $165 billion.

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Due to high demand, huge investments are being made in blockchains that are capable of processing smart contracts quickly, inexpensively and securely. As a result, the value of their coins is rising. Cardano was a very promising project before the hard fork that took place in September unveiled a problem with parallelism. As a result of this issue, users faced difficulties with making transactions on the first DEX, Minswap.

Cardano's developers dismissed the Minswap problem as a suboptimal choice of architecture used. The SundaeSwap DEX called the incident an "unsuccessful experiment", promising to take into account the mistakes of its predecessor.

On 20 January, SundaeSwap launched its own DEX, although this one ran into issues with delays. Network utilisation jumped from 30% in early January to 93%, resulting in individual transactions waiting for several days to be processed. Adding to the technical problems was a conflict between SundaeSwap and CardStarter. Cardano founder Charles Hoskinson urged the parties to stop their back-and-forth insults on social media and take matters to court.

The difficulties in working with smart contracts and regular conflicts between partners led to an exodus of investors from Cardano. In just the past three months, investors have reduced their presence from $8.6 billion to $3.8 billion.

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Hoskinson remains undeterred. He promises that Cardano will see a surge in interest after the Vasil hard fork takes place in June, which will increase the network's bandwidth. According to Cardano Cube, over 500 dApps are in some stage of development.

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In two months, we'll find out how right Charles Hoskinson was and whether the update will lead to the network's long-awaited growth. As for now, data from Defi Llama shows that Cardano is servicing less than a dozen dApps, while its total value locked (TVL) is less than $220 million. In terms of comparison, the younger Terra blockchain has a TVl of $19 billion.


StormGain Analytic Group
(a platform for trading, exchanging and storing cryptocurrencies)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on April 15, 2022, 10:07:03 AM
Why Bitcoin is Falling Despite Positive Statistics

Bitcoin's rate of exchange outflow to user addresses exceeded 96,000 BTC per month, and the total balance on cryptocurrency exchanges reached a mid-2018 low of 2.47 million BTC. Both small players and whales are involved in the stockpiling. So, why isn't Hodl sentiment working to drive prices higher?

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The reason is that the main investment force for cryptocurrencies since 2020 has been institutional investors, i.e., large companies with investments of at least $1 million. Institutional investors' interest largely influences current prices.

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Due to rising inflation, which reached 8.5% in the US in March, the financial community expects more decisive action from the Fed at its May meeting. The regulator will be forced to raise its key interest rate again (likely by 0.5% in one go). For market players, this will lead to higher rates on loans and other borrowings, which shifts interest from high-risk assets to more conservative instruments. Just the other day, Pantera Capital announced the closure of its cryptocurrency investment fund, which had raised $1.3 billion in six months.

The revaluation of assets and the abandonment of risky products reflect the traditional decline in the stock market whenever the Fed shifts from a soft to a tighter monetary policy. Since the beginning of the year, the S&P 500 index has shrunk by 7.8%.

Some might argue that it's impossible to compare the cryptocurrency and stock markets. However, statistics show the emergence of a relationship due to the massive influx of institutional investors into crypto in 2020. As of March 2022, Arcana Research estimated that the correlation coefficient between the dynamics of Bitcoin and the S&P 500 stands at 0.497.

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This is more clearly reflected in the Coinbase analysis using the а Z-Score model, when, in order to compare price dynamics, the values are preliminarily "calibrated" against their own spread of indicators (standard deviations relative to average values). This approach demonstrates an altogether more stable position for cryptocurrency. In March, stocks corrected three times by two standard deviations; Bitcoin corrected by only one standard deviation.

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As we can see, the expected further tightening of monetary policy is driving down the price of most risky assets, with Bitcoin being no exception. The interesting thing is, how long will it last?

According to statistics, in most cases, markets returned to growth 6-12 months after the Fed began to raise interest rates. The exception to this pattern took place in the early 1970s due to the imposition of the oil embargo.

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It's difficult to say whether the current cycle will resemble the recession of the 1970s or whether inflation will experience a "soft landing". In most cases, after a brief pause, interest in risky assets returned with renewed vigour.


StormGain analytical group
(cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on April 18, 2022, 08:32:25 AM
Terra's Bitcoin reserves close to matching Tesla's

In late March, Terra co-founder Do Kwon announced the blockchain project's intention to build up a Bitcoin reserve in order to ensure the liquidity of its UST stablecoin. Within the space of just three weeks, the company spent $1.5 billion as its address balance rose to 42,400 BTC. This means the company is now closing in on Tesla, whose own cryptocurrency assets are estimated at a total of 43,200 BTC.

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UST is an algorithmic stablecoin, and its issuance is mathematically tied to the money supply of its native coin, LUNA. In the event that demand for UST increases, LUNA validators receive a higher reward. If demand falls, a portion of LUNA is burnt. Simply put, developers cannot print more UST at will.

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Herein lies the inherent difference between algorithmic stablecoins and their centralised counterparts, whose liquidity depends on the total volume and quality of reserves. For example, rather than holding a fixed amount of USD, Tether holds around half of its reserves in undisclosed securities. This means that the company frequently constricts stablecoins in exchange for promissory notes. This has already led to scandals in the past, such as in January 2018, when Tether printed tokens worth $850 million for the purposes of providing a loan to Bitfinex.

Despite the fact that UST is a mathematically balanced stablecoin, Terra has also decided to simplify its position by holding an additional Bitcoin reserve. The company initially plans to spend $3 billion of its own capital, later increasing its reserves to the equivalent of $10 billion over the longer term. At current valuations, such a purchase would make Terra the biggest public Bitcoin holder in existence, far outstripping MicroStrategy with its 125,000 BTC ($5.2 billion).

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSiPXdnwnBUjyQYE7sP9ocAtzRm98S1rvJ4pxbiYffNJhq1YwgAz5tWanGLNT2uEq5qen2?format=match&mode=fit&width=640)

UST only needs to accumulate another $0.5 billion in market cap to steal BUSD's mantle of third-largest stablecoin. What's more, the Terra blockchain already occupies second place in the DeFi market, with $19 billion of total value locked (TVL). Meanwhile, its LUNA coin was the only Top 10 cryptocurrency to hit new all-time highs in 2022.


StormGain analytical group
(cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on April 18, 2022, 04:46:53 PM
No barrier to fortune: It's not too late to be a crypto billionaire

It's an interesting time for crypto. As more and more institutional investors buy into Bitcoin (BTC), Ethereum (ETH) and other cryptocurrencies, there might be some investors wondering if they have missed the boat, especially as the dizzying market heights of 2021 gave way to the sobering slump at the start of 2022.

In its earlier days, cryptocurrency was famous for creating Bitcoin billionaires from young, free-thinking individuals who didn't come from traditionally wealthy backgrounds. Now that crypto can be said to be going mainstream, has crypto wealth become the preserve of the besuited financial magnates that Bitcoin once tried to defy? The evidence doesn't seem to bear this out. In fact, the biggest crypto influencers of today are still inspirational and come from a range of backgrounds, ages and countries. Let's take a look at some of the most inspiring crypto influencers in the field right now.

Carl 'The Moon' Runefelt - from bagging to balling

Carl Runefelt, better known by his social media handle 'The Moon', is one of the most popular current crypto influencers, with over 500K subscribers on YouTube and more than one million followers on Twitter.

Runefelt is notoriously bullish on Bitcoin and has made a considerable amount of money on the original cryptocurrency. He isn't shy of flaunting his wealth, either, snapping up rare NFTs for millions of dollars and showing off his new Bugatti (bought with ETH trading profits) to his followers while the market was crashing at the end of 2021. But doesn't Runefelt have a right to be proud of his wealth? After all, he came from humble beginnings and has said in interviews that he wanted to inspire his followers to achieve the same.

Before getting into crypto, Runefelt actually worked at a groceries store in his home country of Sweden. At 22, the young grocery worker was bored and frustrated with life and his career prospects. He started investing his savings in gold and precious metals but became disillusioned by the corruption and inefficiency of the banking system. Seeing a crypto video on YouTube inspired him to invest in crypto and start his own YouTube channel in 2017.

Runefelt's crypto investments were a success, and so was his channel 'The Moon'. By investing, trading and giving advice on the same to his followers, Runefelt completely changed his life. He credits the Law of Attraction and the power of visualisation as key parts of his journey to the lavish lifestyle that he enjoys today.

Runefelt now lives in the playboy paradise of Dubai and continues to be active in crypto and NFTs, as well as promoting his own payment app, Kasta. Despite expanding into other areas of the crypto industry, the Swedish rags-to-riches star is still bullish on the original cryptocurrency, claiming that BTC will never go back down below $10,000 and may even reach $200K in the next three years.

Hold on to your dreams - crypto stars are still being made

The story of Runefelt, who managed to turn his life around completely in his twenties, is an inspiration to crypto traders today, and the crypto world continues to be a way for people to make money outside of the traditional track to wealth.

While many famous investors do study at elite colleges, Ethereum founder Vitalik Buterin famously dropped out of university to focus on crypto. In 2012, a 12-year old Eric Finman spent a family gift of $1,000 buying Bitcoin at prices ranging from $10 to $12, trades that made him a millionaire by 18 and even richer today.

The volatility of altcoins still presents an opportunity for such huge returns today, with new crypto influencers emerging from humble backgrounds all the time. Rachel Siegel was a struggling substitute teacher. At 29 and without any tech knowledge, she started investing around $25 a week into crypto and turned that into a seven-figure return, homeownership and a new career as a crypto influencer under the handle @CryptoFinally.

Kane Ellis was only 18 and a high school dropout when he learned how to mine cryptocurrency and used those Bitcoin earnings over the years to found the online auto marketplace Carswap, as well as to buy a fleet of exotic cars for himself (unlike, Runefelt, he prefers a Maserati).

These are just two more examples of crypto fans who struck it rich and built well-known profiles on top of that. Don't forget all of those who make money but decide to avoid the spotlight and live less public lives. The truth is, the majority of wealthy crypto traders are ones you never hear about but are focusing on their own lives.

Access to crypto wealth has never been easier

The main reason crypto is still a great tool for building wealth is that almost anyone with a smartphone and internet connection can access the market these days, and this empowers a great part of the population that did not have access to traditional wealth-building products.

StormGain remains the best all-in-one platform for crypto trading and investments, with over 60 digital assets to trade, including cryptocurrencies, indices, DeFi, metaverse tokens and more, in one easy-to-use app you can access from your smartphone or the web. With a low-commission, profit-sharing trading model and extensive suite of educational articles and videos, StormGain is one of the best entry points into crypto for new traders.

New to StormGain? Sign up in just a few seconds (https://promo.stormgain.com/lp/en-en/flash-bonus/) and get your +20% deposit bonus boost! The promo ends on April 25, 2022. So don’t miss your chance!
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on April 19, 2022, 10:01:35 AM
Ripple on the Verge of a Supercycle

In the past 24 hours, the capitalisation of the cryptocurrency market has decreased by 1.8%, while Ripple has grown by 4.8%. As the only one of the Top 10 cryptocurrencies that didn't set a new all-time high price last year, Ripple is preparing for a new supercycle.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSfYNt8k9uXcJBbVsWtibbEJLCz2eXDtcbuCaYyVz8rZ7uUbicdZntzizGNrJwbzv2bkGv?format=match&mode=fit&width=640)

The problems for Ripple began with complaints from the US Securities and Exchange Commission (SEC) and its related lawsuit. This led to the project dropping out of the Top 3 cryptocurrencies by market capitalisation, and the XRP coin was delisted from the largest crypto exchanges, including Coinbase.

When the project launched, its developers simultaneously issued 100 billion coins, concentrating them in the hands of the company. The SEC's claim is that in 2017-18, Ripple held a massive sale of XRP to network users. According to the Messari agency, $1.2 billion worth of tokens were sold in four years. This is tantamount to launching an ICO or attracting investment. In this case, XRP must have the status of a security, and the company must be registered with the SEC and keep records of shareholders. The SEC went to court to have XRP recognised as a security and to hold Ripple liable for violating the law.

Discussions have been ongoing for several years with varying degrees of success. At one point, the developers were even preparing to move to another jurisdiction, and their accounts were frozen. However, the SEC made an unfortunate error in court.

Through the court, Ripple requested internal documents from the SEC, according to which some coins (Bitcoin, Ethereum) are recognised as virtual currencies, while others, such as XRP, are treated as securities. The SEC refused to provide information on the grounds that it was only a personal opinion of employees (in particular, it was a draft of a speech by former SEC Director William Hinman). As a result, Judge Sarah Netburn ordered the SEC to hand over the documents since they express a personal opinion and do not have additional privileges.

Ripple's defence is based on the fact that the SEC does not have clear criteria for dividing cryptocurrencies into virtual currencies and securities, and the e-mails about Hinman's speech will allow for the regulator's key claims to be dismissed. The SEC now has 14 days to file an appeal. Otherwise, the SEC is required to provide access to the requested documents.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSg8EwCm3HFDEUQttAhEQTGfeCGcmUU1q3GCPqQ3i1moKUjf8VxnRDVDiFcovx83NfWbGr?format=match&mode=fit&width=640)

Ripple lawyer James Filan calls this a big victory and expects the case to be dropped this year. If Ripple succeeds in proving its point of view, the company will be able to return to the conclusion of partnership agreements with renewed vigour and increase the use of its network. Due to ultra-low fees and high transaction speeds, the platform is already used by about a hundred traditional financial institutions.


StormGain analytical group
(cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on April 20, 2022, 09:42:06 AM
How are miners coping with the Bitcoin bear market?

Last week, we talked about why Bitcoin is still declining (https://stormgain.com/blog/why-bitcoin-is-falling-despite-positive-statistics) despite active buying among crypto enthusiasts and strong accumulation. When prices fall, it isn't just investors who suffer; miners are also hit hard. But just how hard of a time are they having right now?

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSgFzv2Jy5NmeQ57Za4eZspgrs9x62dh44JpHUf4CBzJa3RnY3GawRssUEbth6QUAUxcQW?format=match&mode=fit&width=640)

The Bitcoin network is "programmed" to create a new block every 10 minutes. In order to maintain consistent speeds, mining difficulty is subject to change. Therefore, as the number of miners increases, mining difficulty also rises. Conversely, when total computational capacity drops, so does mining difficulty.

From its November highs, Bitcoin has already plummeted by 44%. However, network difficulty and total computational capacity continue to set new records. Simply put, miners are still bringing new equipment online despite the significant price drops. Doesn't that mean mining must still be profitable?

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSgtGYgC9UWh5uUAn9xzhwX8BzWMprXh7RCqFLDH9AhRFCSExvHbJNLW92yE7LgbBWkKh8?format=match&mode=fit&width=640)

The top-of-the-range Antminer S19 Pro ASIC is still generating a return of around $14 per block at current prices. The wait time for these machines from Bitmain is more than six months, and their current retail price on Amazon is $8,999. It's not hard to calculate that the ROI period for these rigs at current prices is, at best, two years.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYScegXAecNggsCJ9EyDhVmv22ix76hCaGo4jbuisahJaFZ9C3KcvKX1gzzroYBw9eHCHBC?format=match&mode=fit&width=640)

With that breakeven horizon, Bitcoin mining is no longer worth the effort for individual miners. The constantly rising difficulty actually means it's possible that the equipment will never even pay for itself. Moreover, much depends on the country in which miners are located and local energy prices. Major companies can afford to put their equipment in the most optimal regions. This might mean that they can generate a return, while a private individual using the same equipment would be forced to stop mining.

Another important point to consider is the ability of publicly traded companies to attract investment capital and thus continuously upgrade their equipment via investors. Riot Blockchain is a perfect example of this. The company is competing to become the global market leader among public mining companies and is constantly upgrading its fleet of ASICs. Riot Blockchain currently has a computational capacity of 3 EH/s, which it intends to up to 12.8 EH/s by Q4 of this year. As a consequence, the company ends each year on a loss but continues to attract increasing levels of investment and make new equipment purchases.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSjgKv6EqsKgVrGNDwCzgtKUosL472MijcvNkR9x2aj7LnPdRkAJ5CY478V4xshSsDPsHG?format=match&mode=fit&width=640)

Mining is still very much alive but is taking on an appearance that is increasingly divergent from Satoshi Nakamoto's original principles. Instead of maximum decentralisation, we are seeing computational capacities accumulate in the hands of big capital. As mining companies naturally begin to merge going forward, the situation will only become more exacerbated.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSsgqzYpQ4iTfAxV7hCjuUvRqfmtQyDw3ywUzv8KSTTZsx8jJob7PXTu6W4FK1HL5UH62A?format=match&mode=fit&width=640)

However, there is a positive side to the current situation: the lack of profits to be made is prompting miners to hold on to Bitcoin in the hope of future growth. The decline in total supply will then work to buoy prices.


StormGain analytical group (https://stormgain.com/)
(cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on April 21, 2022, 11:14:21 AM
Monero hits its 2022 high

Cryptocurrencies with high levels of anonymity have enjoyed positive growth this year thanks to their ability to conceal both the parties to a transfer and the transaction amount. As a result, Monero has virtually doubled in price from its February lows to reach a new 2022 high. 

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSmEPYjxrSp2J7JBdW7vJSkJWGa44ysNoHXsehcGrCi9Fxyn6csfbpRvekxeZaSUwk8j8a?format=match&mode=fit&width=640)

Monero uses ring signatures. That means a transaction carried out by one member of a given group can be signed off on by any party to it. Because of its constant mixing, it is impossible to say for sure who has signed off on the transaction or who has sent the funds and to whom.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSrDhas3yVkY3DDrrE7FHeBwcPBmXPVyG64dkb1xidZHRhQ1GBakHGSrXCkQp4mYd7ykqU?format=match&mode=fit&width=640)

Due to the fact that it is impossible to trace the movement of funds, pressure from financial regulators saw several cryptocurrency exchanges delist Monero and other anonymous coins in 2020. However, this has not done much to reduce the popularity and value of Monero.

Over the last two years, the number of transactions on the network has risen by 10,000 a day to 40,000, and the total number of completed transactions has now reached 15 billion.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSiK1wUthb6Y6LTYmHKEKa7zWTBbJVCUEdaUZU5eamTif6g6hB5Z95YCfqGhSwXsbe8494?format=match&mode=fit&width=640)

Another factor buoying prices is the steady decline in emission, which has dropped from 1.38 XMR per block in 2020 to 0.69 XMR today. This is close to the tail emission (minimum mining reward) of 0.6 XMR.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSu2ZQ5nuPKLwjzLniSAHe1X552PxeabT3CMLFz3HqmfP2jCsabN2NL12jH9YttsfCMHCS?format=match&mode=fit&width=640)

Over the previous weekend, the community reached a consensus on the 16 July hard fork. It was thus decided that the number of rings will increase from 11 to 16, which will also increase the level of anonymity. The reaching of a consensus is a key step in modernising any network since this allows it to develop without breaks in the blockchain (as is the case with BTC and BCH, ETH and ETC).

Rising geopolitical tensions and excess pressure from oversight bodies have driven demand for anonymous coins. It is likely that Monero will continue its bullish run this year despite the general crypto market correction.


StotmGain analytical group
(cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on April 22, 2022, 11:08:00 AM
Bitcoin: bullish and bearish cases

For four months now, Bitcoin has hovered around $40,000, prompting an increasing number of market participants to give diametrically opposed estimates on the future price trend.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSdwARcvJBoUiVssbHTTBiWgixVD8gZgn6YgtfgGHwG4JBuTiuUVY696nErHQv3DS2wR9Q?format=match&mode=fit&width=640)

The arguments for Bitcoin's continued growth are as follows:

reduced supply on cryptocurrency exchanges due to coin outflows to cold wallets; renewed whale buying (https://stormgain.com/blog/whales-join-shrimp-in-bitcoin-accumulation); the accumulation of coins by long-term holders (LTH) despite floating losses.

According to estimates by Glassnode, short-term holders (less than 155 days) have, for the most part, already spent their coins, locking in losses. As such, this group has ceased to exert any significant pressure on the BTC price, leading to its stabilisation.

Among long-term holders, 15% also have paper losses but continue to hold their coins in anticipation of future growth. Moreover, a significant portion of new LTH coins added from August through November are also showing negative returns, which would typically indicate the end of a major bear cycle.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSjeauEmvPuWn1WRiZeGwst2pExmY1eimdWSgytBnko6XadrWueu6SymbPQ1gGwp6ZfU8v?format=match&mode=fit&width=640)

Several analysts posit that the strong hold sentiment and lack of speculative short-term holders (STH) should enable Bitcoin not only to hold firm during a financial storm but also to rise in price right up to $100,000.

(http://2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSdzEA3GgR7eSNJxU83wXdNuA2kmUfcptERM5vHNDDXahTzJhReKCPAJNgQTsAtmAYVYtE)

The arguments for Bitcoin to extend its losing streak are as follows:

the reduction in network activity and reduced interest among investors. In this context, the number of active addresses has declined to 15.6 million, which is 33% lower than its January 2021 high.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSsgPBtED9Tnt1tZFRdSpR4fSMYweGnKru4L3QQNFGAnyXzURZ3WHSj3YNSFiiehzB8JEz?format=match&mode=fit&width=640)

As regards investors, the majority of these are exiting high-risk assets in response to the Fed's move towards a new monetary tightening cycle. We previously explained (https://stormgain.com/blog/why-bitcoin-is-falling-despite-positive-statistics) how dependent Bitcoin is on interest from institutional investors.

The Chairman of the St. Louis Fed and FOMC board member James Bullard recently announced a potential key interest rate hike of 0.75% at the Fed's May meeting (in case of favourable conditions, the regulator could correct this to 0.25%). This news has already prompted the US dollar to strengthen against the other majors.

Conclusion

Bitcoin will always struggle to grow under tightening market conditions, whatever the enthusiasm of whales and long-term holders. Nevertheless, it still has one ace in the hole against the dollar, and that's its resistance to inflation. It is only due to this rising price pressure that the Fed was forced to raise interest rates in such a hurry. If the cryptocurrency is able to weather the initial storm caused by institutional capital outflows, Bitcoin could once again be seen as a store of value.

What do you think will happen to the price in the coming months? Tell us in the comments section!


StormGain analytical group (https://stormgain.com/)
(cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on April 22, 2022, 05:05:22 PM
Bitcoin bounces back to $41K: take advantage of it with StormGain!

Bitcoin (BTC) price jumped up, then executed a swift reversal this week as the first cryptocurrency broke $42K for two days before slumping back to $41K, wiping out its recent post-Easter gains. Analysts are drawing comparisons with the performance of gold and the US dollar on Wall Street, advising caution on the prime cryptocurrency as its long-term pattern remains unclear.

"I don't think there's any one major catalyst for price movement up OR down right now," said Jason Deane, Bitcoin market analyst at Quantum Economics. "Medium- to long-term outlook remains very bullish, but immediate- to short-term is uncertain and may well stay range-bound for some time yet."

What can the stock market show?

While Bitcoin may have been created to forge its own path independent of the mainstream financial system, it has historically been correlated with the fortunes of gold (to which it is often compared) and the US dollar, the current king of fiat currencies. Bitcoin is typically seen as a hedge against dollar inflation, but recent price movements show that all three instruments appear to have something in common.

Some market experts have pointed out that Bitcoin appeared to be following the same trajectory as gold, which had rallied to $1,998 before slipping to $1,955 per ounce at the time of writing.

The US dollar dropped after a few days of consolidating its strength. The world's reserve currency enjoyed a rise in value on Wednesday before experts considered it overbought, and a price correction ensued.

So far, the three instruments have shown similar movements. Which will break the pattern? Another important indicator, the S&P 500, posted a bottom signal on 19 April, which has historically preceded BTC price gains.

On-chain data shows optimistic BTC hodlers

Long-term Bitcoin hodlers remain very bullish on Bitcoin, and not just the whales. According to a Telegram message from IntoTheBlock Insights, blockchain data revealed that "addresses holding less than 10 bitcoins have increased their holdings dramatically in 2022".

This signals that more 'small' BTC hodlers are continuing to accumulate, removing BTC from circulation, depleting Bitcoin supply on exchanges, and thus increasing its scarcity and, theoretically, value.

Meanwhile, Ethereum (ETH), the second cryptocurrency by market cap, appeared to follow the general market trend of Bitcoin and gold, striking a weekly high shortly before reversing, currently trading at just over $3,000.

Trade BTC and more with StormGain

As you prepare to make your next trade, keep in mind that a bear market can be just as much of an opportunity to make money as a bull market, even if different strategies are required for each. StormGain provides all the tools you need to profit in both rising and falling markets, thanks to its advanced analytics and easy-to-use platform. Don't forget the StormGain Bitcoin cloud miner also continues to reward active users with Bitcoin, regardless of market conditions!

To trade BTC, ETH and over 50 other digital assets on the crypto market with the best conditions, sign up with StormGain (https://stormgain.com/easy-start) in just a few seconds and use this trading opportunity.
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on April 25, 2022, 10:33:31 AM
Will Cardano make it back into the Top 3 this year?

Over the last month, the number of Cardano addresses has risen by 100,000, while the number of projects under development on the eponymous blockchain has practically doubled to reach 900. Does Cardano have a chance of making it back into the Top 3 cryptocurrencies?

In September 2021, Cardano's Alonzo hard fork added smart contract support. What was supposed to be a triumph for the network turned out to be a failure as overloading led to significant transaction delays. The coin plummeted, and the network's capitalisation fell from $100 billion to its current level of $32 billion.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSkR6qMd8T1xnmiWQvJ6We8PpfskukwuJkDnqj4TE3FFoN6ARR1GFRgwhbqST2noXBS9qY?format=match&mode=fit&width=640)

The first (Cardano-based) decentralised exchange, Minswap, also came under fire. Several users decided that the network was simply not able to handle more than 1 transaction per block. However, Charles Hoskinson categorically refuted this criticism.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYStvtpz3cQCGvQA9nkunseGuDiancpFh1K5hMncfFoxGBk5p7Q14VHcUESzVd7mKHaHpMt?format=match&mode=fit&width=640)

After Minswap, there were also other attempts to launch an effective decentralised exchange (DEX). SundaeSwap spoke of its predecessor's "unsuccessful experiment" and promised to correct its mistakes. They presented their own DEX at the end of January but experienced similar delays. The Cardano network's workload rose to 93% of its capacity.

However, Charles Hoskinson did not lose heart, promising phenomenal growth in demand for Cardano in the DeFi sector following its Vasil hard fork in June. The update was designed to increase the network's capacity, most notably through the addition of diffuse conveyor processing. According to Hoskins, by as early as 2022, Cardano will match Solana in terms of transaction processing speeds.

This is quite a bold statement given that it has fewer than 10 dApps and a total value locked (TVL) of just $222 million in DeFi. Solana, the project against which Hoskinson is measuring Cardano, is in 5th place in this ranking with a market capitalisation of $4.7 billion.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSgwWv47Se5VqAjHgJ6D5LUE1rUqFjav6oiTYNFz3dpq4L4h7KRhYj4ktJGeCs4KbBF63p?format=match&mode=fit&width=640)

The number of announced Cardano projects is constantly on the rise, thanks at least in part to the active efforts of its investment fund. But their partners are not rushing to release anything just yet out of fear of getting their fingers burnt by the network's low throughput. If the improvements planned for 2022 prove to be genuine game changers, Cardano could have a chance of returning to the Top 3 cryptocurrencies by market cap. But as things stand, it isn't a particularly bright picture for investors.


StormGain analytical group
(cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on April 26, 2022, 08:43:54 AM
Justin Sun's stablecoin reveal sees TRX shoot up 16%

The meteoric success of Terra's algorithmic stablecoin (UST), which has shot up through the rankings to cement a place among the Top 3 stablecoins, is garnering ever-increasing investor interest. It seemed Justin Sun couldn't sit on the sidelines any longer. Yesterday, he announced the launch of Tron's own USDD coin. The new coin will officially launch on 5 May.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSejHypAtSLZyJjXb3ojQde2foTj2GGU8Ru9zQ8JimAqiHq1QbVK56kM32PiKFhc3x4iWi?format=match&mode=fit&width=640)

With centralised stablecoins (e.g., USDT from Tether), liquidity is maintained by way of reserves. Thus, under ideal circumstances, each USDT should be backed by $1 held in the company's bank account. In reality, though, direct fiat accounts for less than 5% of Tether's reserves, a fact that was revealed during the course of a court-ordered audit. The company has direct access to coin emissions and could issue USDT-denominated loans to other parties in the form of debt instruments. This threatens public trust in stablecoins as a given coin's fiat peg could be destroyed in the event of a market crisis.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSfM5N6UZjcxDWKznaYUNo497VKmkPR6yDGc1EHmHpX7eKp8He8Eqb9wwpeBGR2bnJXHQJ?format=match&mode=fit&width=640)

Algorithmic stablecoins take another route: they are tied to other cryptocurrencies. This model has its downsides, but at least developers don't have the ability to mint more coins. Thus, UST's issuance is tied to Terra's internal LUNA coin, and they'll soon be adding a peg to the company's Bitcoin reserves.

Justin Sun has taken this same route, with the developer of Tron's future project resolving to tie USDD to the TRX coin. If USDD falls below $1, arbitrageurs and users can send USDD to the system and receive $1 worth of TRX. If USDD rises above $1, participants send $1 worth of TRX to the system and receive USDD in return.

This development saw TRX shoot up 16% in one day, though it has since lost half these gains in the last few hours.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSjqFND9Wd2k9bdpPNeYUDbc4jY2Sjr816cBeA41Q2qMs115PxnFgxVrgrXtC7oocpUoBc?format=match&mode=fit&width=640)

Tron currently is currently in 22nd place in cryptocurrency rankings, with a market cap of $7 billion and over 88 million network addresses. Due to TRC-20 USDT's low commission volume, it has now overtaken ERC-20 USDT to reach a capitalisation of $41 billion.

The successful launch of USDD will draw attention to this new stablecoin, which will be a positive factor for TRX's future prospects. However, Justin Sun himself is a complex character. He has been accused of plagiarism, user fraud and financial schemes multiple times. For more information, you can see the findings of a series of press exposés published in The Verge. As of yet, no official charges have been brought against him.


StormGain analytical group
(cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on April 27, 2022, 09:50:44 AM
Bitcoin bearish sentiment strengthens

Short-term Bitcoin holders whose coins have been on their wallets for less than 155 days have already locked in any losses for the most part. Many of them have now switched to short positions on Bitcoin futures in the hope of making a profit on falling crypto prices. Futures contracts provide a way of buying and selling cryptocurrencies without actually taking possession of the physical coins.

Any futures contracts held can be charged a commission, which can be either positive or negative. Over the weekend, the funding rate on derivatives exchanges went into negative territory. This would suggest the market is oversold, with an overweighting of sellers willing to pay commission for holding short positions.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSsc1JnHY5ax8FVRfEpsHrti93aRCdvUKcM5Q9f7XihRpQ2KhhggRdAJ2XquHd5SJqCzNA?format=match&mode=fit&width=640)

Furthermore, TSD analysts report that the ratio of long to short positions is up from 1:1, when Bitcoin's price was at $47,000, to 1:3.5 at current prices. The probability of the price dropping to a nine-month low of $35,700 has risen sharply.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSkQSkSwxCmr4VZun5MBgrfS6cv9n7tojyMunp4xrbS9UDEKsUQvVzTx9MWNejj9cHdJea?format=match&mode=fit&width=640)

Despite the protracted correction, mining difficulty increased by 4% two days later to set a new all-time high. Publicly-traded mining companies are to blame for the disconnect between difficulty and price. In their efforts to constantly attract investment capital, they are updating their ASICs fleet, even if this means they will experience losses. One prominent example of this phenomenon would be Riot Blockchain, which is planning to increase its computational capacity from 3 EH/s to 12.8 EH/s. In the chart below, you'll find a year-by-year breakdown of the mining return/profit ratio.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSgr1Siy6JM8M9x4Y2uF2mzVwg94gREjSc59gtVbQnnf3QSjzbzDDXxEjDLmryzuYqMvJS?format=match&mode=fit&width=640)

Top-of-the-range ASICs enable firms to generate a return in times of low prices and rising difficulty. Currently, the cost of mining one Bitcoin is estimated to be $33,000.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSfXbKCajAQK6HyPtqNLDuEoCDhWYULSPxFjsmqZDsWBxfCpuBnWF6Z4RSC4vXYwsYh3WW?format=match&mode=fit&width=640)

This enables companies to maintain a high hash rate while also using some of the coins they mine to cover operational expenses. A potential correction to around $35,000-$36,000 would not have a significant impact on major miners' activity.

The most likely cause of such a decline would be a significant interest rate hike by the US Federal Reserve in early May. Such a move would see the US dollar strengthen against most other instruments with which it is paired for trading purposes. This is the precise reason why there is a proliferation of speculators opening short positions on Bitcoin.


StormGain analytical group
(cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on April 28, 2022, 11:09:44 AM
Why Dogecoin shot up 26% in 24 hours

Initially created as a joke by Jackson Palmer and Billy Marcus in 2013, Dogecoin has since become the granddaddy of all meme coins. This group of cryptocurrencies typically experiences sharp rises amid increased interest in the coins and equally sharp drops once interest wanes.

On 25 April, the renowned godfather of Dogecoin, Elon Musk, announced that he was buying Twitter for $44 billion. The legacy social media platform can now expect wholesale changes in the weeks ahead, one of which will probably be the addition of DOGE as a payment method. This news saw the coin shoot up 26% in the space of just one day.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSe71HMU3RkzRae27PjPmj8NsNksY9z4bpEtJvabFeY4tSymH7deCoZxeeyNTwxpFaLkQW?format=match&mode=fit&width=640)

Despite remaining a dedicated fan of the social network, Elon Musk had criticised Twitter for what he saw as its arbitrary censorship on multiple occasions. In his speech announcing his acquisition of the company, Musk noted the following:

Free speech is the bedrock of a functioning democracy, and Twitter is the digital town square where matters vital to the future of humanity are debated. I also want to make Twitter better than ever by enhancing the product with new features, making the algorithms open source to increase trust, defeating the spam bots, and authenticating all humans.

Twitter founder Jack Dorsey expressed his support for Elon Musk, calling the approval of his bid the "singular solution I trust". However, not everyone reacted to the news with enthusiasm. In fact, Dogecoin co-developer Jackson Palmer termed the deal a "hostile takeover". He deleted that message just as quickly as he did a tweet from 13 May 2021 in which he called Elon Musk a "self-absorbed grifter".

Jackson Palmer's criticisms relate to Elon's manipulation and trickery of the general public. This comes after Tesla suspended Bitcoin payments for its cars in favour of Dogecoin, citing the original cryptocurrency's "environmental impact". However, both cryptocurrencies use a PoW protocol and need miners. Then, in July 2021, Musk published a cryptic post that sent BABYDOGE on a 500% moonshot.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSgt89UYDDiYVBmydnB2qu3YsYMxuhagEd6bhnrAEsK4Wm5WrtjU7j9VWwBBzUf8TZACVU?format=match&mode=fit&width=640)

At the time he posted his tweet, the project hadn't even been up and running for a month, which led to him being accused of pumping and dumping (a process whereby actors artificially inflate interest in an asset before later selling all their holdings).

Elon Musk has an extremely large reach, with an audience of over 83 million subscribers. By way of comparison, Jack Dorsey only has 6.3 million. Musk's significant informational clout doesn't just worry Jackson Palmer; it also has the White House on edge. Yesterday, Press Secretary Jen Psaki announced President Biden's growing concern over the power of private social media platforms and the need to increase their legal responsibility.

Despite the agreement reached with Twitter, the deal has not yet passed through all the necessary steps and must still be voted on by shareholders and approved by the appropriate regulators. Until that has happened, we shouldn't expect to see any tangible changes in the way the social media platform operates. According to CEO Parag Agrawal, the deal will be concluded by the end of the year. As for society at large, many people are concerned that Donald Trump's account could be unblocked.


StormGain analytical group
(cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on April 29, 2022, 11:38:41 AM
The NFT market takes off: $1 billion in one week

NFTs (non-fungible tokens) significantly simplify the process of buying and selling pieces of digital art, in-game items and metaverse objects. Over the past year, the NFT market has grown by more than 1000%, and its capitalisation now stands at more than $10 billion.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSkRvJ8EkfMqX5K97aMZLorYhuTdDNqPXe4aiMuF9w43WnRFZkYc5H6j9LBM1czLk6K2Xx?format=match&mode=fit&width=640)

Demand for NFT tokens is strongly correlated with the total capitalisation of the cryptocurrency market, which explains why trading volumes tanked hard in 2022. However, from about mid-April, the situation changed completely as weekly volumes reached $1 billion.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSiChUjvHaMGFbNJHzf8EuPJRR3vgvqbjPtnWLYis94wzJmeyYqXeLnSQJ1H1t38y5YcMU?format=match&mode=fit&width=640)

One driver of this growth was the Moonbirds collection, which ranks first place in the ranking, with $165 million in sales over the past week alone. During this period, 1309 market participants completed 1821 trades. Meanwhile, the most expensive image went for 350 ETH (equivalent to $1 million). All in all, the collection consists of 10,000 birds.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSkPp7R4k5BAck2cABPrGso98eYGFXEXAg53j1LMacUsNRimgEs6QZNnxxExSpNmG78BMY?format=match&mode=fit&width=640)

The Moonbirds collection is available on the major NFT marketplace OpenSea. The platform is making every effort to push the popularity of the NFT market while also seeking to maximise the number of works it offers. This week, news broke that the company is acquiring the NFT platform Gem. OpenSea is already implementing several of its unique features, such as more user-friendly search and rights collection tools.

The NFT market's revival is strengthening the positions of blockchains that support smart contracts. Ethereum is the NFT leader with a market share of 92% and a turnover of $876 million over the past week. The network's high practicality has ensured the coin's growth relative to Bitcoin starting as far back as 2020. Then, the project's main rally coincided exactly with the dawn of new industries like NFTs and DeFi.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYStFkDj2WHH16bdqTgkUjAJaxxNn6oxwarbh2sVt61eJ2N6G4d74RW3DKPTU8aU3sPaAQe?format=match&mode=fit&width=640)

Ethereum's future expansion is largely dependent on the network's migration to a proof-of-stake protocol, which will ultimately lead to increased speeds and lower transaction costs. This is expected to take place in Q3 of this year, though the 'switchover' date has already been postponed multiple times.


StormGain analytical group
(cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on May 04, 2022, 08:22:45 AM
Why Bitcoin hasn't taken root in El Salvador and what to expect from the CAR

The Central African Republic became the second country after El Salvador to declare Bitcoin legal tender. El Salvador's pilot provides a perfect example of why this step will fail to have a significant impact on the country's economic situation. Bitcoin prices have also ignored this news.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSe6MiwPK1CPN1cbvYrMWDs5JqU5vD6T8TKTCAVfyyeTydXVpHYmBuP4PJSDPA76e2VCgv?format=match&mode=fit&width=640)

In its efforts to combat inflation, El Salvador took its own currency out of circulation in the early noughties, replacing it with the US dollar. This enabled it to stabilise its economy but brought its own series of negative consequences.

Salvadorians are actively immigrating to more developed countries in search of work and then continue to support their relatives at home financially. In 2019, the volume of money transfers sent by these immigrants constituted 1/5 of the Latin American country's GDP or $6 billion. Between 5-10% of these funds are taken by international payment systems, the lion's share of which go to Western Union. Salvadorian President Nayib Bukele has named lower fees for cross-border payments and the reduction of the US dollar's influence on their economy as the key reasons for his adoption of Bitcoin.

To facilitate the acceptance of Bitcoin, the government launched its Chivo wallet that allows users to exchange cryptocurrency and dollars free of charge. A TV and radio public information campaign was launched, while each user received a stimulus bonus of $30. This was quite a serious stimulus for residents of a country where this amount is equivalent to 0.7% of the average annual per capita income.

Despite all the government's efforts, a majority of its citizens' main motivation was to get the bonus and then immediately stop using their wallets. The US National Bureau of Economic Research (NBER) conducted a study that identified some key negative trends. It surveyed 1800 people, with a confidence interval of 95% and a sampling error of 1.94%. The results revealed that 61% of respondents never used Chivo again after spending their bonus.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSjk4uC5rvZueJyuMSeEzGsqkQLjfqjNnyhPybE5EUaK9LWMV1dchWfkRyX1cYwwTUXRki?format=match&mode=fit&width=640)

21% of those surveyed had heard of Chivo but still had not downloaded the application. One of the key reasons cited was a lack of a mobile phone with internet access.

The population's low literacy rate and poor access to information technology are some of the main reasons for the failure of El Salvador's Bitcoin implementation campaign. Salvadorians are used to paying cash for goods and services and either don't trust or don't understand new technology. Before Chivo launched, more than 70% of respondents were unbanked, and almost 90% had never used mobile banking.

Chivo isn't experiencing much demand as a means of making cross-border payments either. In February 2022, only 1.6% of cash transfers were received using a digital wallet, and these were by respondents who had the app installed on their phones.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSfWSnDkB6nymkDau2WZ4W59xogDsPmUr2CVEgXZTx5urxz3n4eGD3F9mfS3SqihjRSrLE?format=match&mode=fit&width=640)

It's safe to say that the majority of Salvadorians simply proved not to be ready for these new technologies, meeting them with misunderstanding and ultimately rejection. So, what can we expect from the CAR, one of the poorest countries in Africa with an annual GDP of $2.4 billion?


StormGain analytical group
(cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on May 05, 2022, 08:42:25 AM
Bitcoin metrics: the spring is compressing

Generally speaking, a protracted consolidation leads to a sharp breakout in financial markets. Over a four-month period, Bitcoin has been ‘circling’ around $40,000, and that breakout could happen as soon as next week.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYScdqm5PzeBgs1keeq5ewjLWMDMtj8HmsNRsUx9o3wZW4SLQxYdgVjX9Nmb3KwUPM99FPt?format=match&mode=fit&width=640)

The trading volume for perpetual Bitcoin futures (i.e., without actually delivering the cryptocurrency) last year compared to the volume seen on the spot market due to a large influx of speculators and short-term investors. However, in the past eight months, a significant drop in the trading volume of derivatives has been seen, going from an average of $70-$80 billion per day to the current $31 billion per day.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSjjH3GFKTHrtLmPDTtemjCvK7rdizLPm8FmVeGF8WEq4P22Sega9XejZjvSKY3ibeXWkN?format=match&mode=fit&width=640)

The funding rate is payments to traders for holding a perpetual futures contract. If a majority of investors are buying, then they pay funding to sellers to hold a long position (i.e., buying). Conversely, if bears prevail, the funding rate becomes positive for buyers.

This instrument perfectly illustrates market sentiments. The current funding rate is being significantly compressed, which speaks to the drop in both trader activity and growing market uncertainty.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSe545PpnK1bUZC7bcMoL1C7KGcsN5hZQPT8VDMYHBb5PHjjyoAShxJDgYx13QhZfsV2EJ?format=match&mode=fit&width=640)

One argument for a price increase for Bitcoin is the strong sentiments in favour of accumulation on the spot market. According to analytics agency CryptoQuant, total Bitcoin holdings on 21 tracked exchanges are at their lowest levels since September 2018. What’s more, the outflow of BTC from crypto exchanges is close to record highs.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSrnudWSSAgxUR4V4DUHm8DZ2rUVZajTwK6RdnXcTeftj11QVPfXXSSYxgUt7TbwGFF6N2?format=match&mode=fit&width=640)

We previously covered (https://stormgain.com/blog/why-bitcoin-is-falling-despite-positive-statistics (https://stormgain.com/blog/why-bitcoin-is-falling-despite-positive-statistics)) why efforts among crypto enthusiasts alone are insufficient to trigger a price increase. Institutional investors continue to roll back investment programmes, and US GDP dropped into negative territory in Q1 2022. Now, the yield on crypto futures is 3%, which is comparable to the yield on 10-year US Treasury bonds and significantly lower than the current inflation rate of 8.5%. Not sure that Bitcoin will rise quickly, investors are moving their money to higher-yield assets.

On 3-4 May, the US Federal Reserve will have a scheduled FOMC meeting at which the country’s key interest rate could be increased by 0.75% in one go (in favourable conditions, the rate is usually increased by 0.25% increments). This will boost the long-term value of the dollar, increase the risk of a recession in the United States and may provoke a sell-off of risky assets such as Bitcoin.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSfUqTJgCHKLR9wnSFoHC8w635pGhCMEn3tf2DunqRAYFMx2GxmFp1phWQcpWoQu6Ey8ra?format=match&mode=fit&width=640)

In anticipation of a new correction, various analytics agencies are calculating the strongest support level below which Bitcoin’s price is unlikely to fall. According to Whalemap, this level falls in the range of $25,000-$27,000. With that, whales are already prepared to actively buy up BTC at $34,000, which is also the approximate break-even level for Bitcoin miners.


StormGain analytical group (https://stormgain.com/)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on May 06, 2022, 08:22:42 AM
Major investors flee Bitcoin

Since 2020, institutional investors (companies with holdings above $1 million) have become the leading investing power in the cryptocurrency market. ETFs tracking the Bitcoin spot and futures markets started to emerge while the number of public mining companies and investment funds soared. Even Western countries' state pension funds weren't too timid to buy Bitcoin.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSg7vjmMaQD96DFxb7peaTZaaAMtLV7Ba65zdgT6XLLex8aMURBaK1otWR6WmgKda6W4xE?format=match&mode=fit&width=640)

This was mainly a result of active dollar printing by the Fed in a bid to backstop federal support programmes for citizens and businesses. Then, in April 2020, US-based crypto exchange Coinbase recorded a 400% increase in deposits equal to $1,200, the amount received by Americans in stimulus checks. At that time, Bitcoin was priced at $7,000.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYShYB3TkbLYS5qYeT8KaZkscVLKa5ehGGLTxoMR84Hs8hUrhXJAD8CqThJM3kgW5TJMh4i?format=match&mode=fit&width=640)

More than a third of all dollars in circulation were printed over the last two years, while the Fed's balance sheet has doubled to reach $9 trillion. Investors put money in all sectors of the economy, from real estate to cryptocurrencies, which led to inflation in the US significantly above the Fed's target level.

Now, in an effort to cool markets, the Fed has been forced to do a complete policy 180, raising its key rate and selling part of its bond holdings. This will inevitably lead to a decline across most risk assets. The stock market (S&P 500 Index) has already dropped by 13% YTD.

There's no way these trends won't spread to the crypto market, too. Consequently, net capital outflows from cryptocurrency funds reached an all-time high of 14,327 BTC. US investors are fleeing at a higher rate than in any other region, with investment holdings down 11% over the past month.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSkMYM1ycunoM2YZBmSa37za8x9PaYbY5Eaph57hNLh6ZHwdL1jswtxYzZmyRwpkxLXLUW?format=match&mode=fit&width=640)

Much like the stock market, Bitcoin is trading at a discount this year. However, as volatility has lessened, the declines are definitely less severe. This is partly due to the activity of smaller investors who continue to show faith in the coin's strength. Investors with wallets holding between 0.1 BTC to 10 BTC just doubled their positions in April to increase their total combined holdings to 2.5 million BTC.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSfN36228udRizCU5istSyLYTArdZS3j3j2PLReBRLP2TQoue8RDeTJ7cQdsH618SYAZKU?format=match&mode=fit&width=640)

If small players were a driving force on the Bitcoin market, we would currently be seeing rising prices instead of an ongoing correction.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSgwXMZ3E7ZUChV2gZq98W1jwWDmQLsnbRDUoATuEBSNhwLoNtTRdicQWrSz8MGVRL6adc?format=match&mode=fit&width=640)

However, the major market movers continue to be institutional investors, whose strategies are built on following the Fed's lead. The regulator announced a single 0.5% interest rate hike at its meeting this week. A sharp interest rate hike coupled with the upcoming balance sheet shedding by the Fed will likely lead to even larger capital outflows from Bitcoin.


StormGain analytical group
(cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on May 11, 2022, 06:28:51 PM
Mining Ethereum more profitable than Bitcoin

Despite Bitcoin's larger capitalisation, mining Ethereum requires a lower initial investment that pays off much earlier. And even Bitcoin's status as a "store of value" doesn't play into miners' hands.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSgw2p4sHofEv85xPvfaEe3N1HM9AvQsrSnowA2m2P39tpj184XiPQBF9yBArzcdTSMnH4?format=match&mode=fit&width=640)

Many have dubbed Bitcoin the digital gold, with analysts at many leading banking institutions (including Goldman Sachs and JP Morgan) writing about such a shift in preferences. The network is the most decentralised and secure, but it does not support smart contracts, and its speed (TPS) is limited to seven transactions per second.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSgsKEPxnPBjA7gF8dgZk88XBj6mWtkA6aFUghAzJnvHVTShCUhzY9q3udEgkbpdtMpAKQ?format=match&mode=fit&width=640)

As a result, the main income miners receive is the block reward, which currently stands at 6.25 BTC. The commission per transaction, meanwhile, remains below 1%.

With Ethereum, the situation is completely reversed, and the high demand for transactions is leading to significant increases in commission. The network is only slightly faster than Bitcoin and cannot process more than 20 TPS. This requires users to offer higher tips to miners to ensure that their transaction is added to the next block as quickly as possible. The average commission currently stands at $13, but on 4 May, it reached an unprecedented peak of $6,000.

This spike was sparked by the launch of Yuga Labs' new NFT collection in which each token provides access to a virtual plot of land in the new metaverse, Otherside. Demand exceeded all expectations, and buyers inflated miners' tips massively in a bid to secure one of the 55,000 tokens on offer. The collection sold out in three hours.

As a result of the hype surrounding the launch, miners were able to earn $231 million in a single day, which marked a new all-time high. The previous maximum of $117 million came in May 2021.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSudsrMnYg5NzzZWs8J5tYQW9d1XW8PqmB44yAndURKU5SxgycVQu8hxuaWacAXREiE8jp?format=match&mode=fit&width=640)

The news didn't go unnoticed by Elon Musk. On 4 May, the Tesla CEO changed his Twitter profile picture to a collage of Bored Apes from Yuga Labs' Bored Ape Yacht Club. What's more, he did so in breach of copyright since he hadn't bought the NFT and didn't have the rights to its use. The collage's author, Michael Bouhanna, asked him to either delete the image or purchase the rights from the rightsholder.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSkUeFZ3r9CQ24c28fsy1G3Uxm9niSTq7o68HDK6fjbNpipR17Zz4frJAaQHMp63osBQpN?format=match&mode=fit&width=640)

With the dawn of NFTs and DeFi, Ethereum has become more profitable not only for miners but also for hodlers. The ETH/BTC pair has maintained an uptrend for several years now, one that will continue thanks to the future expansion of virtual assets and the emergence of new metaverses.


StormGain analytical group
(cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on May 12, 2022, 10:27:33 AM
Why TRX is up 24% in a week

While many coins are seeing a mass sell-off amid a 7% overall correction of the crypto market, Tron's TRX project is on the rise. It all essentially boils down to the launch of the new USDD stablecoin and Justin Sun's desire to boost the Terra blockchain's market cap.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSe6MMeYEfM2npgESevUZuEehMpzw7Y2z5jM3Q3ojLURJpk9wVLXPn4jST6JB5U3RZ3SxW?format=match&mode=fit&width=640)

Thursday, 5 May, marked the launch of the algorithmic stablecoin USDD, which is pegged 1:1 to the US dollar. To maintain this exchange rate, USDD is also tied to the firm's native TRX coin. If the price of USDD drops, arbitrageurs are able to claim $1 worth of TRX in exchange for the stablecoin. Conversely, if USDD's price rises, arbitrageurs spend $1 worth of TRX and receive USDD in return.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYStCq7o7Z8FhFHWKGcGSPPG398B47Hxht6D6hax7GHt92BhecVH4sYTNq2j4e2KAtV6XCA?format=match&mode=fit&width=640)

The advantage of algorithmic stablecoins is the fact that their emission cannot be influenced by the developer. In contrast to centralised stablecoins (e.g., Tether), it is impossible to mint more coins in order to cover any expenses. One downside is the lack of stability of the entire system, which means that crypto panic selling could threaten the 1:1 peg with fiat and lead to the devaluation of the stablecoin.

In order to minimise this risk, Terra is also tying UST to its own Bitcoin reserves, which currently stand at 80,394 BTC or $2.9 billion. This step helped UST become the third-place stablecoin by market capitalisation with $18.7 billion. It also helped Terra win a 14.3% share of the DeFi market, where it is only surpassed by Ethereum.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSgv3JJCfPfpmR4qD4ZuHadWsijFHDTqrEydCGS6MaZ7A9wNcXbSXRDTEmLsvdkTMSJeeS?format=match&mode=fit&width=640)

USDD is basically a carbon copy of UST, which is why traders are expecting Terra to repeat its earlier success and are thus actively buying up TRX. Justin Sun, however, has not yet shared his plans to put together a bank of reserves for the stablecoin, while a series of scandals involving him personally have scared off many potential investors.

Tron currently sits in 19th place on the leaderboard, with a market cap of $8 billion. The network has more than 90 million addresses, and its low commission rates have enabled it to rack up $41.7 billion in TRC-20 USDT transactions. That's more than any other project. If Justin Sun manages to convince the community of the reliability of his new product, TRX could well continue to grow.


StormGain analytical group
(cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on May 13, 2022, 12:34:16 PM
Fiasco of the year: UST's stablecoin reserves are depleted as LUNA plummets by 90%

Up until very recently, Terra was one of the most promising projects around. Its stablecoin sat in third place in the relevant rankings with a market cap of $18 billion, while only Ethereum had a bigger share of the DeFi market. Terra's balancer coin LUNA was also the only Top 10 cryptocurrency to hit a new all-time high in 2022. However, its decline proved so earthshattering that it even attracted the attention of US Treasury Secretary Janet Yellen.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSr56pA7XiXpokyX9B2Mn3g72kfyGj1TxNCywR7SVHF1A4z32yLzXXVunZzbw8tsM5EVCr?format=match&mode=fit&width=640)

Terra's stated aim is to create a bridge between the traditional financial system and cryptocurrencies. In service of this goal, it launched several stablecoins, including the USD-pegged project UST. An algorithm that arbitrates between UST and LUNA (a free-floating coin) is responsible for maintaining the exchange rate at 1:1. This means that UST is considered a decentralised algorithmic stablecoin. We have written about the advantages and disadvantages of this approach on more than one occasion, including in our previous article (https://stormgain.com/blog/tron-increased-in-week).

In order to strengthen the stablecoin's position further, Terra announced that, in the future, UST would be tied to its own cryptocurrency reserves. After accumulating $3 billion in reserves, half of which consisted of Bitcoin, Terra transferred funds to market makers on 9 May to try to stabilise UST's falling exchange rate.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSgEtwqFP67v5WpDBBhWLRptzkSN77oZa1SLDkoBNP1WR86gLt2QwJvzGyPZtfUYzoXEcv?format=match&mode=fit&width=640)

The initial reasons for UST's decline to $0.98 and lower thereafter included the sell-off on the wider cryptocurrency market and an attack by an unknown seller who offloaded stablecoin worth $300 million on 8 May. This was accompanied by social media discussion of UST's vulnerabilities, which sparked panic and significant pressure from other market participants. At one point, market makers tried to steady UST's exchange rate by selling Bitcoin and other crypto assets, but that wasn't enough to save the day.

Currently, it's not known for sure whether Terra exhausted all of its reserves trying to maintain the UST exchange rate or whether it decided to stop its stabilisation efforts to preserve those same reserves. Once the reserves were out of the game, the biggest hit was taken by the project's balancer coin, LUNA, which is down 90% on the weekly chart.

UST's staking yield reached 20%, which translated to a rise in the number of investors and locked value, despite the cryptocurrency market's general decline in 2022. However, the drop in UST's exchange rate has made further staking unattractive, and as investors fled from the stablecoin, its total locked value in DeFi fell by 50% in the span of just a few days. UST is currently trading at around $0.82, which would suggest that the situation has still not normalised and LUNA's decline is likely to continue.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSfXjyQpCv6QDpR5gVXB893X2W3cD8ey7sFLBHubw8TeQj1PNTAQYPfwaoyLqizxQxP4Ln?format=match&mode=fit&width=640)

Investor Lyn Alden equated the UST-Bitcoin tie to an attempt by developing countries to save their economies by burning through their gold reserves, hinting at the natural end result of such a move. Meanwhile, on 10 May, Janet Yellon called on Congress to expedite the process of developing a bill to regulate stablecoins, citing UST as a case in point.

In an attempt to salvage the situation, Terra is looking to bring in an additional $1 billion in investment, while the project's developer, Do Kwon, wrote on Tuesday that a recovery plan will soon be presented. However, the project's reputation is already in tatters, and the likelihood of it returning to previous all-time highs is extremely low.


StormGain analytical group (https://stormgain.com/)
(cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on May 16, 2022, 10:22:16 AM
Stablecoins

What is a Stablecoin?

The global financial market is extremely volatile nowadays. Stablecoins, as a type of cryptocurrency, are increasingly attracting investors as an alternative to traditional assets.

So, what is a stablecoin, how is it regulated and what are the types of stablecoins? We’ll figure that out together.

Stablecoin meaning

Stablecoin definition:

A stablecoin is a cryptocurrency that has collateral.

The collateral is often fiat currency (e.g., the US dollar, euro or pound sterling) and gold. Stablecoins can also be pegged to other physical assets, such as precious metals, natural resources, securities, real estate and more. Apart from the fiat-collateralised stablecoins, there are also stablecoins that are backed by other cryptocurrencies or that have collateral in the form of complex algorithmic functions.

Stablecoins regulation

Cryptocurrencies were created as a regulatory-free alternative to national currencies. However, recently, they have become the subject of scrutiny by regulators all over the world.

The authorities of many countries recognise a threat in the growth of the stablecoin market. If it happens, America and other countries may face the problem of a ‘Wild West’ of banking, which US banks had already experienced in the nation’s history when banks issued a large amount of unsecured assets. The authorities are concerned that a similar situation could repeat with stablecoins.

There’s also another risk according to the authorities: stablecoin independence. Any financial instrument may pose a certain threat to a country's monetary policy if that instrument is not controlled by the country’s regulators. In other words, authorities don’t like it when residents prefer the assets of private companies to the national currency.

Regulators also fear that cryptocurrencies can be used for money laundering.

As a result, the US plans to regulate stablecoins as follows: only insured depository institutions will be allowed to issue this cryptocurrency. They will be subject to strict banking regulations with quantitative requirements imposed on their capital and liquidity.

The European Council is considering compulsory licensing of cryptocurrency service providers and imposing capital requirements. In addition, they plan to limit the average number of transactions per token in the EU market.

China has imposed a complete ban on any cryptocurrency transactions at all. It has declared mining and any cryptocurrency transactions, including those on foreign exchanges, to be illegal financial activities.

Interest in stablecoins

Because stablecoins are a collateralised type of cryptocurrency, they are not subject to extreme volatility. As such, their exchange rate does not fluctuate much. Stablecoins will not bring huge profits in a flash, but they also won’t bankrupt their owners overnight, either. So, investing in such currencies makes sense.

Owners of some stablecoins can use them for medium- and long-term investments and earn money with potentially lower risk. Holders can profit by staking stablecoins in their wallets for a certain period, for example for six months. In return, they will be paid a certain amount of interest.

Traders can also use stablecoins as a safe haven to weather financial storms and receive a stable return in the meantime. Having made a successful transaction with high-risk crypto, a trader needs to invest the proceeds somewhere. Withdrawing funds to fiat currencies (dollars, euros, etc.) takes quite a long time, and not all crypto exchanges have such an option. A great alternative is to convert assets into stablecoins, waiting for a better period on the crypto market to trade again.

(https://steemitimages.com/p/3jpR3paJ37V8JxyWvtbhvcm5k3roJwHBR4WTALx7XaoRovdzw3cJWFZWVBjPdBpYFriMxCJd4xGnz16RYfxsdHwyb5wXCR2ZtbotGVUTCezc63eyYxhH4pJRnEZ9UeGrABBgi?format=match&mode=fit&width=640)

Types of Stablecoins

Fiat-Collateralised Stablecoins

Fiat-collateralised stablecoins are a type of cryptocurrency with traditional fiat reserve (securities, government bonds, stocks, real estate, gold, fiat currencies such as dollar, etc.).

The largest and the most popular fiat-collateralised stablecoins are:

- Tether (USDT)
- USD Coin (USDC)
- Binance USD (BUSD)

These stablecoins are backed by the US dollar. In such fiat-collateralised stablecoins, there is always a legal entity that manages the money (US dollars) that supports these stablecoins, competently invests it in funds, stocks, government bonds and reliable securities. This legal entity must also provide enough reliable dollar reserves in a bank to exchange all the issued coins for real dollars in case of an emergency.

The great advantage of fiat currencies is that they’re not strongly influenced by price fluctuations, unlike other cryptocurrencies whose value can change significantly.

On the other hand, fiat-collateralised stablecoins are susceptible to inflation because of the underlying currency backing it, which, in turn, is influenced by the rules of the global financial market.

Crypto-Collateralised Stablecoins

Crypto-collateralised stablecoins are stablecoins that have a cryptocurrency as a reserve. This means that they’re backed by other crypto assets that are used as a collateral to maintain exchange rate stability.

Examples of crypto-collateralised stablecoins are:

- Dai (DAI)
- Timivi (TMV)
- DefiDollar (DUSD)

Since the price of collateral cryptocurrency tends to be rather volatile, this type of stablecoin typically uses overcollateralisation. For example, for each $1 token issued, a notional deposit is frozen in crypto with a current value of $1.50 or more.

Any user can check the status of the token at any time. If the value of the crypto deposit declines, the participant needs to recapitalise their account, where the deposit is stored and the conversion takes place.

In other cases, the token can be bought out by ‘keepers’ who benefit from it, or the token is recapitalised by another user, for which they receive a commission of 1% to 6% of the recapitalisation amount.

If the price of the currency pledged to the deposit increases, so does the overall level of supply in the system. As a result, users get the opportunity to take more crypto out of the system.

Some crypto-collateralised stablecoins are backed by a pool of stablecoins that provides diversification, which is aimed at lowering risk.

Algorithmic Stablecoins

Algorithmic stablecoins are a type of stablecoin controlled by a set of rules written in the code of a particular platform. According to the rules, algorithms balance supply and demand for the cryptocurrency by issuing more coins when price soars, and buying them off the market when the price decreases, which makes such tokens stable.

The examples of algorithmic stablecoins are:

- TerraUSD (UST)
- Empty Set Dollar (ESD)
- Ampleforth (AMPL)

The advantage of such stablecoins is flexibility in scaling because no additional assets are needed to secure emission. Another strength is the high level of decentralisation compared to other types of stablecoins.

However, their development is more expensive because they are technically more sophisticated products.

Another disadvantage lies in the algorithm at the core of the system which provides a risk of overissue, dramatic inflation, under-reserve and as a result the collapse of such a financial pyramid someday.

Stablecoins vs Altcoins

So which is better: stablecoins or altcoins?

Altcoins are cryptocurrencies without a reserve that were developed as an alternative to Bitcoin.

The advantages of stablecoins over altcoins include:

- Low volatility

Since stablecoins are always backed by an asset, the rate of stablecoins does not fluctuate drastically. The exchange rate volatility is usually within 4-5 digits after the decimal point. Consequently, they do not have the dramatic value jumps typical of altcoins, such as Ethereum, Namecoin, Dogecoin and other similar coins.

- Level of confidence

Stablecoins, especially those secured by the dollar, are a sufficiently clear and applicable investment tool for the average investor. Such collateralised currencies are much more trusted by users and therefore popular, thus increasing their liquidity.

- Stable value

One digital coin is always equal to the asset to which it’s equated. Therefore, such coins are quite reliable and can be used to pay for goods and services. Both the seller and the buyer will be confident that the payment will be successful.

- Risk Insurance

Stablecoins can be used to diversify risks associated with the loss of capital. It’s especially essential when the local currency of the country is unstable due to its weak economy.

Disadvantages of stablecoins compared to altcoins:

- Low profitability

Since stablecoins are collateralised currencies, this financial instrument has a lower profit margin compared to volatile altcoins.

- The need for regular inspections

It’s necessary to conduct constant audits to ensure that stablecoins are properly secured. Otherwise, their value will fall considerably. Altcoins, on the other hand, are not collateralised, and there’s no need to do so.

- Inflation

As stablecoins are often pegged to fiat currency, they’re also indirectly subject to inflation. To avoid this, it’s recommended to diversify risks by investing capital in different assets.

- Account blocking

Although this is not a common situation, cases of accounts being blocked have already occurred with dollar-backed stablecoins. Law enforcement asked to block the account, and it was blocked. Of course, this isn’t so easy to do because the address has no specific known owner with passport details, unlike a bank account. Nevertheless, such risks exist. Meanwhile, altcoins aren’t connected to fiat currencies, so no authorities can limit the rights of their users.

Conclusion

Stablecoins can be considered a reliable currency in the roller-coaster crypto market due to the collateral that is in its bases. Despite the fact that these cryptocurrencies are backed by fiat, it is essential to take into consideration the fact that such currencies are fairly new and there are many subtle questions.

As a result, it is recommended to invest in stablecoins with caution and prudence.
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on May 17, 2022, 09:03:00 AM
A Requiem for Bitcoin?

The crypto sell-off is intensifying, and the recent crash of UST raises questions about the viability of stablecoins as an asset class. Against this backdrop, the number of forecasts about the sudden death of Bitcoin and the entire cryptocurrency industry falling into oblivion has increased.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSjpm9ivAX87fGoerrqZoHJjFwWkfpTPxgWCME6JjbRq9vv29U7kpzXeLSDzyetbLKcfxa?format=match&mode=fit&width=640)

The continuation of Bitcoin's correction was brewing back in March-April. However, smaller users — those with wallets containing less than 1 BTC — absorbed 0.58% of the total circulating supply during these months, increasing their share to 14.3%. Nevertheless, their activity was not enough to hold up the price under the pressure of objective factors. In April and May, we talked about why a key investment force — institutional investors — are moving away from Bitcoin.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSjpSou9QbPNw98XKsExKGKmLrX1baadms6vTFx5wW3SR3fM3cy6shWX2NezPdQi9BuoLa?format=match&mode=fit&width=640)

With the fall of the crypto market's capitalisation, the problems it faces have become more acute. Thus, the growth of Terra (LUNA) was largely due to its high annual yield, which reached 20% when holding the UST stablecoin on the Anchor platform. Before UST's crash, Anchor was holding 75% of the circulating supply, or $14 billion. As soon as the peg between UST and the US dollar was broken, investors rushed to withdraw their funds (for more details, see yesterday's article).

The collapse of the third-largest stablecoin raised questions about its viability as an asset class, and US Treasury Secretary Janet Yellen urged Congress to urgently draft legislation to regulate stablecoins.

The risk of collapse applies both to algorithmic stablecoins and centralised ones, such as Tether (USDT), which has a capitalisation of $82 billion. An audit conducted last year showed that instead of holding promised dollars in bank accounts, the company was predominantly holding securities as a reserve. This could also lead to a liquidity crisis in the event of an active USDT sell-off. Cautious investors are already getting rid of the stablecoin; its capitalisation has decreased by $1.4 billion in just a few days.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSm8tUnFDJEizgPxhLTjxqZ32C6vKSgGvZNEBuNSaC39T4eNcJurckRh4fmtLsfH5TEn9U?format=match&mode=fit&width=640)

In the event of a break in the USDT-USD peg, the cryptocurrency market may face a full-blown crisis and a serious outflow of capital. For example, gold zealot Peter Schiff is already predicting that Bitcoin will fall below $10,000. And yet, this will still not be enough to signal the end of Bitcoin, whose strength is in decentralisation, independence and a lack of politics and geographical boundaries.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSfSQrKHgfq8qU21QR3hjcULtkcNKD6vicJdU5P5sqrxs9cuVny9mtGFaMJndFRAxAXxkE?format=match&mode=fit&width=640)

In this regard, the statistics from 99Bitcoin.com, where an obituary for Bitcoin has been maintained since 2010, are noteworthy. During this time, the cryptocurrency has been 'buried' 448 times, reaching a peak of 124 'deaths' in 2017. Only seven obituaries have been written this year, but recent events hint at an increase in the funerary sentiment.

What do you think is next for Bitcoin? Let us know in the comments!


StormGain analytical group
(cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on May 18, 2022, 09:05:26 AM
ZCash shoots up 37% ahead of major update

This year saw a huge upsurge in demand for anonymous coins that enable users to hide both their identity and the transaction amount. ZCash is the second-biggest confidential network by market cap with $1.4 billion. On 11 May, the project's developers announced its upcoming 5.0.0 update, which prompted the coin to rise by 37% from its local low.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSfMsqj8KE8yLRG2NPvvs464EEfWKScFzCEXgrKZu141CC77xJcmqMB9e1ZgFJZKTXnRV8?format=match&mode=fit&width=640)

ZCash uses the zk-SNARK protocol in which transactions are encrypted and authenticated via a zero-knowledge proof mechanism. This enables one party to prove to the other that the transaction is genuine without revealing any information from the approval process. Simply put, you don't need to have all the necessary information to carry out a transaction and ensure that it is verified as required.

The first zero-knowledge proof protocols required several rounds of exchanging information to confirm that a transaction was indeed approved. Now, all that is necessary is one message, while the size of the actual proof is less than one kilobyte, and the verification process takes just a few milliseconds.

On 31 May, the NU5 update will take place on Block 1,687,104, implementing the Orchard protected payment protocol and Halo proof system. The update will make it possible for users to perform confidential and secure transactions on mobile devices. According to ZCash founder Brice Wilcox, NU5 is a historic step for the whole of mankind since it will bring zero-knowledge proof to everyday technology.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSiLy7Cr2TMGVERPpAKw7EPvWFqfGDVN1S7ARwUCEZ1cCTccKxj66RZbQvV2SBm6bDfYJ2?format=match&mode=fit&width=640)

ZCash benefits from a high level of protection and relies on miners in much the same way as Bitcoin. Bitcoin, however, is a public network, something which fraudsters can use to their advantage by tracking wallets making major transactions and thus identifying future potential victims. Furthermore, senders may compromise themselves when sending transactions to "undesirable" individuals. With ZCash, these risks are eliminated.

In April 2022, it was revealed that one member of the ZCash launch ceremony was Edward Snowden. As the ex-NSA employee put it, "you can't have truly free trade unless you have private trade. And you can't have a free society without free trade".


StormGain analytical group
(cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on May 19, 2022, 09:02:26 AM
Terra (LUNA): is there life after death?

Last week, we discussed the dramatic demise of the Terra blockchain, which, until as recently as April, was among the Top 10 with a market cap of $40 billion. The network was unable to maintain the exchange rate of its algorithmic stablecoin, UST, which resulted in its balancer coin, LUNA, being completely devalued in the space of just a few days. Furthermore, it is still not yet known whether the team used the entirety of its $3.5 billion in cryptocurrency reserves to save the system.

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Parity between UST and USD was maintained by either reducing or increasing the supply of LUNA. Because demand for UST remained high on account of its 20% annual staking yield, LUNA exhibited strong growth and became the only Top 10 coin to reach a new all-time high in 2022.

The company has promised that it will soon release a detailed report on the reasons behind its recent collapse.

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Several analysts believe that the precursors for the collapse were already in place well before the May crisis, while the decision to tie UST to the company's reserves was a sign of the system's inherent fragility.

UST is an algorithmic stablecoin whose issuance was initially only pegged to the price of LUNA. This is what differentiates it from centralised stablecoins (e.g., Tether), where the exchange rate's stability is maintained by reserves held in bank accounts. Terra took the unusual step of bolstering its algorithmic UST with $3.5 billion in cryptocurrency reserves.

The company was forced to prop up the UST exchange rate by selling Bitcoin once LUNA started to fall. Either the reserves were simply insufficient, or they were not used in full. Analytics firm Elliptic traced the course of the coins and revealed that 28,000 BTC were sent to an account on the Binance cryptocurrency exchange, while 52,000 BTC were sent to a Gemini account.

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However, they were unable to track where their assets went next. Terra could have used its own funds to prop up UST, or it could have transferred them to unknown accounts. If the company maintains its reserves, this will present an opportunity for the project to relaunch.

On 13 May, Do Kwan laid out a recovery plan that involved forming a new fork in the Terra blockchain and distributing 1 billion tokens among LUNA and UST holders who can provide photographic proof of their ownership prior to UST losing its peg to the US dollar.

Open critics of this route include Binance CEO Changpeng Zhou and leading Terra validator Jiyun Kim. Zhou noted that "forking does not give the new fork any value", calling upon the company to buy up the coins and burn them. Meanwhile, Kim, whose pool has shrunk from $1 billion to $3 million, has proposed that the community rally together and create an entirely new blockchain.

The lack of a consensus within the Terra team means the chances of the network relaunching are significantly lower than they otherwise might be. In addition, Do Kwon may soon be under investigation following official complaints to the authorities by a number of disgruntled investors.


StormGain analytical group
(cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on May 20, 2022, 10:17:42 AM
Another stablecoin bites the dust. Is Tether next?

The cryptocurrency space is facing an institutional crisis as a result of crumbling faith in stablecoins. And while few heads might have been turned by the collapse of a few minor projects, the decline of UST (Terra) — the third stablecoin by market cap — caused quite the furore, indeed. UST's capitalisation plummeted from $18.7 billion to $1.4 billion, while its balancer coin LUNA was totally devalued. For more info, see our previous articles.

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Stable coins are the central interface between fiat and cryptocurrency, facilitating the movement of digital assets and the establishment of corresponding exchange rates. It's difficult to overestimate their influence. The overwhelming majority of cryptocurrency exchanges use stablecoins as a base currency for quoting the prices of various instruments.

After UST fell under pressure from sellers looking to protect their savings, DEUS Finance's DEI stablecoin was unable to hold on. Like UST, DEI is an algorithmic stablecoin.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSjeRPuHX6AxQDenDxqhMJLkcgq7MhQkxzBaqJXzwd1PP8hzC4BZhXkrPWX3nuxggbfkxv?format=match&mode=fit&width=640)

If Tron's USDD network had launched earlier and managed to attract enough investment, it would have been the next to get wiped out. USDD was built on the basis of UST and uses the same algorithmic mechanism. In a bid to attract investors, Justin Sun is offering an annual staking return of 30%, whereas UST only offered 20%. USDD's capitalisation currently stands at a total of $300 million.

A loss of faith in stablecoins was always bound to impact Tether, the clear leader in this particular asset class. Over the last week, its capitalisation has steadily dropped to reach a total of -9%.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSsde3sdH37CG3ZuLf4EvuFniBMY8WSGDjeKbYRdrdq717mxRMftbsaJ13wfcuxFHF9gfp?format=match&mode=fit&width=640)

In contrast to the other coins mentioned above, Tether is a centralised stablecoin whose stability is guaranteed by the company's own reserves. The company could have rested easy if it had only kept its initial promises to hold bank reserves in USD equal to the volume of USDT issued.

Under pressure from the New York Attorney General's Office, Tether conducted an audit that revealed the state of its reserves: only 5% of USDT was guaranteed by fiat, with over half backed only by corporate bonds.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSfYNxA17H9auwrCwQgyyfcq4qnD3kGRHyemJREBnh5RtBcfopgxU3rPG97r5m4a9VLrgv?format=match&mode=fit&width=640)

In other words, when it issues Tether, the company is investing in other crypto projects, too. It's impossible to say for sure whether or not some of these funds were also invested in Terra. The probability of this being the case is slashing USDT's value and threatening the liquidity of the $76 billion market cap stablecoin. Investors are also feeling discouraged by the fact that Tether has made multiple requests to regulators to waive its obligation to publish its reserves status.

There is effectively no way for us to judge the quality of the corporate bonds held in Tether's reserves as their contents are hidden from the public. Investor concerns explain the outflow of funds from USDT to USDC, with the capitalisation of this latter rising from $48 billion to $52 billion over the past week alone.

USDC is much more attractive to investors since its parent company, Circle, is registered in the US and its accounting records on the status of its reserves are published monthly by independent auditor Grant Thornton LLP. On 13 May, Circle's financial director, Jeremy Fox-Geen, confirmed that 23% of the USDC in circulation is backed by fiat, with the other 77% covered by short-term US Treasury bonds.


StormGain analytical group
(cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on May 23, 2022, 08:53:54 AM
Chinese miners are back in business

Despite the ban on the use of cryptocurrencies by financial institutions and the designation of mining as an undesirable activity, Chinese crypto miners are now back on track.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSccuMuhXknELtABxjtU2xXTwkXrUVWJY7VKGDMi3zt828yntN3vSpbxwqYjhu23h9W7Lz?format=match&mode=fit&width=640)

According to data from Cambridge University, Chinese miners have now turned their equipment back on after a short hiatus as the country moves into second place in the global ranking, with a share of 21.1%. The US currently occupies the top spot, with 37.8%. Kazakhstan is in third place, with 13.2%, and Russia is now outside the top three after falling to fifth place behind Canada's 4.7%.

Back in 2021, China was the undisputed leader, with a 50% market share and a hash rate of 80 EH/s. However, the country's leadership viewed crypto's growing popularity as a threat to the digital yuan and chose to repress it. Cryptocurrency exchanges almost universally stopped accepting Chinese citizens as customers, with many financial institutions quickly changing their jurisdictions as a significant portion of mining farms migrated abroad.

CBECI project lead Alexander Neumuller has pointed out that the empirical data seem to confirm the aforementioned suggestion that mining is still going strong in China. His calculations were made on the basis of data from four of the biggest Bitcoin mining pools: BTC.com, Poolin, ViaBTC and Foundry. Neumuller also called upon other mining pools to collaborate on a joint research project in order to ensure that the data reflect the reality as closely as possible.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSgt6yYPxGkGXY7jLkq3SG9J1bYVCoCqV8JoQMKGXHGQHg62FJbg3jhs6EBMSPqFTvGdXc?format=match&mode=fit&width=640)

Despite Bitcoin's 55% decline from its ATH and the sharp rise in computational difficulty, mining remains a lucrative enterprise. The top-of-the-range Bitmain S19 Pro generates $5.50 per day when working in isolation. However, in May, deliveries of the liquid-cooled S19 Pro+ Hyd began. Its estimated return is as high as $11 per day.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSjhxXaaG3389XLKhqMS27evQaqejSWSein3FL6gd4bcnv3vkgVCGXxg4GWmE4MNBWiniJ?format=match&mode=fit&width=640)

The constant updating of ASIC fleets by major mining companies will lead to constant increases in difficulty. In light of the larger capacity of US firms to attract private investment, it is likely that the US will continue to hold first place in the global hash rate rankings.


StormGain analytical group
(cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on May 24, 2022, 10:09:23 AM
SHIBA INU predicted to die by 2030

As the crypto market correction drags on, we continue to hear macabre forecasts about the fate of this or that coin. On this occasion, it was analytics agency Finder warning of the impending end of SHIBA INU and a decline in demand for meme coins as a whole.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYShgj6nXT2An3hZXZgtm4wRs4hohcwQZCaS7Z6z6jhcrmVMa8Le6niUaVBUYyayPdZoSte?format=match&mode=fit&width=640)

In its best months, SHIB brought investors 1000% returns, while the network's market cap stood at $40 billion at its peak. From its highs, the coin has eight-fold, and even its listing on the famous Robinhood exchange wasn't enough to generate bullish sentiment. After all, a petition calling for SHIB to be added to the broker's instrument offering had reached over 500,000 signatures.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSivouWbsZVqZ1nd7ob6U2nEpzh1xyvKBCcg8WHytVnb4CLErVjmWUwxYH82pFn9QjeHJ6?format=match&mode=fit&width=640)

As the analysts at Finder explained, the death of SHIB is not a question of "if" but rather "when". The cryptocurrency market is only following its natural evolutionary path as investors are increasingly selecting instruments with practical applications or that provide tangible added value. The times of traders buying hundreds of random coins and hoping that some of them go to the moon are on their way out. Meanwhile, most of the demand for joke coin SHIB was predominantly emotional and not based on solid fundamentals.

This is confirmed by an analysis of the factors that led to its huge price spikes. When asked, the crypto experts from Finder called SHIB's biggest growth drivers PR hype and celebrity mentions. For instance, on 14 March 2021, Elon Musk wrote a tweet saying how he wanted to get his hands on some Shiba Inu, only later explaining his motivation: that he has a pet dog of that particular breed. However, social media were soon abuzz with information about the coin, leading it to rise by 300% in just a few days.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSfS4s4m2eza3QkRc8JcQ7fN8YDz8EodfHyF7VceoJyBidHkjtZwd1r3C2aFNMsGY2tR4r?format=match&mode=fit&width=640)

SHIB was built on the basis of Dogecoin, while the initial aim of the project was to reach the same capitalisation as its other canine counterpart. It reached this goal last year, but since then, SHIB hasn't stopped losing ground to its predecessor.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSr7NuEPHNb8oZ1L7FUBrhEVCe4SJ2nT6FKfm5SSafdcPzcahBSEjb3YBsLnPeW5W6vCf8?format=match&mode=fit&width=640)

In contrast to Dogecoin, SHIB is nothing more than an ERC-20 token with an anonymous issuance of 1 quadrillion coins. The reasoning behind such a large emission was the desire to ensure that the coin's value remains low and thus attracts the largest possible number of investors.

A short while ago, the project's developers launched their own decentralised exchange, and SHIB was equipped with its own burning mechanism. But this didn't help. The total locked value of ShibaSwap continues to fall, currently standing at less than $60 million. According to Finder's estimates, SHIB will be worth $0.0000025 by 2025, around 20% of its current value.


StormGain analytical group (https://stormgain.com/)
(cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on May 25, 2022, 09:44:44 AM
Terra's collapse causes crisis for Avalanche

The collapse of Terra's UST project, which was the third-largest stablecoin by market cap, has cast a shadow over the entire decentralised finance sector. Over the last 30 days, cross-chain bridges lost 20% of their capitalisation, while the total locked value in DeFi was halved to $88 billion.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSkXG5cHLY8NuXo9fihBj7ws2epEf1jLQMUYcSCcBK1WRQ2yRqHdb1LLpwftKRAGx7BrzA?format=match&mode=fit&width=640)

Until very recently, Terra sat in second place after Ethereum in the DeFi market, a fact that only served to increase investment in the project both among traders and potential partners. Its fans included the Avalanche team, which worked with Terra on several joint projects. In order to strengthen their partnership, the two companies even exchanged each other's coins. Terra received $200 million worth of AVAX, while Avalanche got $100 million of LUNA and $100 million of UST in return.

Before Terra's collapse, Avalanche ran into problems when trying to expand its network. As a result, the team decided to launch its Avalanche Multiverse programme, putting together a $290 million fund to lure third-party developers (we wrote about this in April). But the situation now looks increasingly dire for this project which, just a few months ago, counted itself among the Top 10 coins by market cap.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSiGjhcdUoR411gS9o1Vm1rMcvVKCjMpgqWyA7DcHaeg37rxyxd71L5qAw9BGgK557sbJN?format=match&mode=fit&width=640)

In an attempt to maintain UST's tie to the US dollar, Terra used virtually all of its 80,000 BTC reserves. However, the company's 2 million AVAX ($60 million at current prices) remained untouched. Now the company is deciding what is going to happen to the project, and one option it is considering is to use its remaining reserves to compensate small investors for losses they incurred.

The problem is complicated further by the initiation of an investigation by South Korean law enforcement, as well as by the South Korean Information Agency's revelation that Terraforms Labs owes 100 billion won (~$79 million) to the country's tax authorities. If Terra suddenly decides to take its 2 million AVAX out of the market, this will lead to a significant drop in the token's value and could spark panic selling among its remaining holders.


StormGain analytical group (https://stormgain.com/)
(cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on May 26, 2022, 09:41:22 AM
Tether changes its reserves amid storm of criticism

The collapse of Terra's UST project has led many to reassess the value of other similar stablecoins. Well before this recent crisis, Tether's USDT had already come under fire on account of its not keeping its promises regarding the composition of its reserves. As a consequence, the market capitalisation of the world's biggest stablecoin fell by 12% within the space of two weeks.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYShaRb17DPuz4tYHwxXqYQpv4Vh6MVzAjDNdpbb2s2oSjCcJmaRjLHzF6WzUYGcTqh5yBc?format=match&mode=fit&width=640)

Tether had initially pledged to back every single USDT issued with $1 on its bank account, a promise it failed to keep. In 2018, the company printed almost $1 billion to provide as a loan to Bitfinex when the crypto exchange found itself faced with a liquidity crisis.

The truth came out when the New York District Attorney's office conducted its own audit. As part of an out-of-court settlement, Tether was ordered to pay a fine of $18.5 million, also accepting a requirement to publish regular reports of its reserves. It was thus revealed that Tether's reserves are made up of less than 5% fiat currency, with over half consisting of corporate securities. After the audit, Tether removed the reference to "dollar reserves" in its fund safeguarding statement, adding crypto assets and credit income in its place.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSfYNxA17H9auwrCwQgyyfcq4qnD3kGRHyemJREBnh5RtBcfopgxU3rPG97r5m4ZvQHCQN?format=match&mode=fit&width=640)

LUNA's dramatic decline and the loss of parity of Terra's UST stablecoin have once again brought the issue of Tether's liquidity to the fore. On 12 May, the USDT exchange rate dipped to $0.94, and the panic even spread to Bitcoin, leading the original cryptocurrency to fall to $25,000.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSrqWMzY96kBc5Sgyc7GFg5QNCJZXgMFwtM7vwU57E8S3S9hsn8QQNLyrS4bu4fZQ2tUPx?format=match&mode=fit&width=640)

Tether managed to bring the situation under control, though the associated capital outflows coupled with insufficient reserves could lead to a repeat of the same, only with worse consequences.

As of 2022, the company has been actively trying to rebalance its reserves, as is detailed in a report (from 31 March) recently published by Cayman Islands-based MHA Cayman. Consequently, its total consolidated assets slightly exceed the requirements, coming in at $82.4 billion. Out of these, corporate securities account for around a quarter, or $20.1 billion, while in Q4 2021, this value stood at $24.2 billion. Tether promises to reduce these by another 20% in Q2 2022.

As the portion of corporate securities has fallen, the amount of reserves held in US Treasury notes has risen from $34.5 billion to $39.2 billion.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYScchbCosNKFg2Qi3wuhchNuCNwA5BmyS9dnsAHrDE8gow3aTGVT6usBV8GH3UgUjgj5wU?format=match&mode=fit&width=640)

It's important to note that this report is not an audit but is rather classified as financial information on the basis of accounting records. MHA Cayman is very clear that its assessment of Tether's assets is based on their current status and does not take into account any potential large-scale market correction or the default of any of its major debtors.


StormGain analytical group
(cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on May 27, 2022, 03:24:03 PM
Mimblewimble threatens to get Litecoin delisted

Once among the Top 5 cryptocurrencies, Litecoin now finds itself in 18th place with a capitalisation of $4.9 billion. But now, this position is also under threat after an update from Mimblewimble highlighted the risk of Litecoin being delisted from several major South Korean exchanges.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSkSjL65QEKodaq4FPdgDBRHvZnLaU1MkWMPyiQK5HA8PyrmWGK28LmU1gTajnRKrQxW6A?format=match&mode=fit&width=640)

The latest Mimblewimble (MVEB) update enables users to make confidential transactions by combining multiple transactions in one log entry. The blocks also undergo verification, but the record of previous transfers now appears as a selection of random symbols. The fact that prior history is no longer included in the record means that the network's productivity is now higher.

MVEB was launched on Litecoin's blockchain last week. Then, on 23 May, leading South Korean exchanges Bithumb and Upbit to issue a warning to investors about the risks connected with this update. For starters, any payments made with MVEB cannot be refunded under any circumstances. Meanwhile, there is a real possibility of Litecoin being delisted since confidential transactions hinder KYC (Know Your Client) and AML (Anti-money laundering) policies.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSryjkDZUvePR2GYyDhwUphro8XAXSoh9QBAe4ZMYT5vEs7gfuxAj1wD5cFfn8FnfsNgea?format=match&mode=fit&width=640)

Back in 2019, South Korean exchanges delisted anonymous coins en masse under pressure from regulators, leading to average losses of around 25% in the space of a month. Now they have Litecoin in their sights. The coin could correct to $53 if it suffers the same fate.

What's more, MVEB has less protection and a lower level of confidentiality than Monero and Zcash. With the development of quantum computing, its current protection algorithm will no longer be relevant. However, it's unlikely these arguments will stop South Korean exchanges from tightening the screws.

The problem is exacerbated by the recent collapse of Terra (LUNA). Representatives of South Korea's major crypto exchanges were called before the country's parliament to explain the circumstances surrounding huge investor losses, while the Seoul police department sent them a request to freeze the assets of Luna Foundation Guard to prevent any further withdrawals of funds by potential fraudsters. The negative news climate can only increase the likelihood of Litecoin being delisted soon.


StormGain analytical group(https://stormgain.com/)
(cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on May 30, 2022, 10:58:40 AM
Bitcoin's abysmal new low

The crypto news climate remains negative as institutional investors continue to pull out capital from digital assets. This is putting pressure on Bitcoin, which is just on the cusp of breaking one record that nobody will begrudge it: eight consecutive weeks of week-over-week declines.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSu2iyWLLQJjuMKsttefFmQ1xePHKZC6NLHDWSWCAnqy1JiTR2X1nRYRZn8KqsEj4dchPt?format=match&mode=fit&width=640)

Capital outflows from cryptocurrency investment funds last week reached a peak unseen since July 2021 as $141 million was wiped off its value. The total amount of capital managed by funds has fallen to $38 billion.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSg9ZCUZEMoEhP83K6AixmAFBC2U8sTxNvUaNfyvoShRf41hXrhrwVVPATwYYN6UEaed5x?format=match&mode=fit&width=640)

Investors are withdrawing funds from high-risk assets as a result of the Fed's monetary tightening policies. We are seeing this trend repeated across a wide range of financial instruments, including the stock market, as a result of which the US dollar index hit a seven-year high.

Cryptocurrency exchanges are seeing strong outflows of Bitcoin alongside falls in transaction volumes. The total amount of funds held on crypto exchanges has similarly dropped to 2.5 million BTC, with Coinbase boasting the largest reserves with a 34% share of total funds.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSfLkBHXMwHhB6kkV89Rh2iXqA8aetYTYicmdaE6LbykhMfiF1V8NRyMaWRKMUdGMXi9tr?format=match&mode=fit&width=640)

The low network activity is translating to a drop in commissions. Following the recent spike caused by the collapse of Terra (LUNA) and the rush to Bitcoin as a relative safe haven, total commission fees have now dipped to 10-12 BTC per day.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSsY8mtSZS6Ti4knZfhbcBzjFsGZhGzJxPt36QxwKh6bpq7s2tbtYfYbZcWkqEHi7QFxTg?format=match&mode=fit&width=640)

The key metrics indicate that market participants are cautious. Trading activity is on the wane, while Bitcoin is flowing out to cold wallets and options trades have seen the put/call ratio rise from 50% to 75%, suggesting that investors are seeking to hedge against the risk of future declines.

This general weakness in the cryptocurrency market will only intensify the negative opinion surrounding Bitcoin. Thus, on 22 May, ECB President Christine Lagarde stated that cryptocurrencies are not backed by anything that could provide them with some sort of stability. Then, on 23 May, Bank of England Chairman Andrew Bailey said that Bitcoin has no intrinsic value and is not suitable as a payment method.

Amid this kind of pressure, it's unsurprising that we're hearing more and more forecasts predicting a Bitcoin crash. Guggenheim Partners' Scott Minerd, for instance, has predicted a drop to $8000 and has compared crypto to the dot-com bubble of the early 2000s.


StormGain analytical group
(cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on May 31, 2022, 11:47:32 AM
Mining has come to a halt as graphics card prices fall

Graphics cards are predominantly used to mine Ethereum, which has now corrected more than 60% from its November 2021 high. As a result of lower mining yields, we're now seeing a long-expected decline in graphics accelerator prices.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSmAAyfQUFsSFUQnAMHh6FxtVpMxpAck4sBwSLbfa6FVWxfvL69kcppcqgkeVjgvFrtbci?format=match&mode=fit&width=640)

Over the last three years, much of the crypto market's inward investment came from institutional investors (companies with holdings of over $1 million). This also includes publicly-traded mining companies with long-term investment goals.

The cryptocurrency boom of 2021 prompted many of them to boost their involvement in the mining arms race. According to figures from Digital Trends, miners accounted for 25% of all graphics cards sold, or a total of 700,000 devices. This was reflected in the higher network hash rate, which increased by more than 200% over the past 10 months.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYShaHxyN5geZQ7bT5zpTVNfJUfwgQvhDuLgfNy5AdbbCuMdASQPQ1ZBBPdb5qpG4B6BKGS?format=match&mode=fit&width=640)

However, we're now seeing the cryptocurrency market's growth projections being adjusted as a result of Fed policy and reduced investment by miners. For example, NVIDIA's otherwise unsuccessful CMP line (downsized mining graphics cards) flopped to post "nominal" sales, while the company's share price mimicked Ethereum's downward movement, dropping 51% from its November 2021 high.

The refusal of miners to buy graphics cards has had a favourable effect on the retail prices of such equipment. As such, the RTX 3080 now costs between $1000-$1300 on European markets, after being priced at $1800 at its peak. Meanwhile, the entire third-generation series is already going for close to the original recommended retail price.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSrwmvL7zoakFYh1o87voRCCXsDift4m9JrRMvFtjfM392pNMdW6ryiEMtairV7JfF3a3Y?format=match&mode=fit&width=640)

Despite ETH's correction, mining difficulty continues to rise while yields dwindle. Now, miners are currently receiving around $0.024 per day for 1 MHash, which is comparable to mid-2020 levels. The main way Ethereum miners earn money is through commission. However, lower activity has led to a reduction in the amount of commission being paid. The only exceptions were the spikes caused by the launch of a new NFT collection and the collapse of Terra (LUNA).

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSsWfi3Zk4G6DVmb2oWtQvjbc2ormCD7gr8ZzwA8c8STCajHNtMkX26af78yV2NXz25D7C?format=match&mode=fit&width=640)

Since the external economic climate remains hostile to cryptocurrencies, mining yields are expected to hold steady at relatively low levels, while graphics card prices are expected to drop by 10-20% in the short to medium term.


StormGain analytical group
(cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on June 01, 2022, 10:33:55 AM
The contentious rebirth of Terra (LUNA)

Despite strong community dissent, validators have voted for the creation of a second chain. New $LUNA will be made available to existing holders so long as they can provide two pictures of their holdings taken before and after the UST stablecoin's crash. The majority of major crypto exchanges came out in support of the move to create a new fork.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSegYooTRm5Af4Dfv1N3eonDC4gu1VizUbBnrdpV72Vix9iXPhKW7rWwcZypDgzj6cShaN?format=match&mode=fit&width=640)

Terra is a cryptocurrency project that famously released an algorithmic, USD-pegged stablecoin known as UST. The project's internal coin, LUNA, was used to prop up the exchange rate, though a lack of liquidity ended up leading to a loss of UST's parity and the total devaluation of LUNA.

The collapse of a stablecoin is not a common occurrence in the cryptocurrency market. But Terra had made a lot of noise after UST made it into the top three stablecoins by market cap and its network managed to gain and retain second place in the DeFi sector, lagging only behind Ethereum. Such highs would not have been attainable without Terra's #DevelopmentTeam  and the support of its multi-million-strong user base. For this reason, validators voted to relaunch the blockchain and keep the Terra (LUNA) brand as before.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSrv2a4HiDViuPnTNXnv9zNHxw2AadkjzNeVmyshunZy7zDhBsnEuV35W3fMNHv25oaFEv?format=match&mode=fit&width=640)

The new chain is not a fork in the classical sense because it will be built from the genesis block and will not inherit LUNA's existing transaction history. Following the relaunch, the stablecoin UST will disappear, with old LUNA being renamed Terra Classic (LUNC) and the new branch retaining the previous title of LUNA. The #DevelopmentTeam  is migrating over to the new network, with Spectrum, Nebula, Prism, Astroport and other partners similarly expressing their desire to support the new fork.

Cryptocurrency exchanges that support the blockchain's relaunch include Huobi and Binance, while Coinbase Cloud has stated that it will stop supporting Terra and any other associated chains. BitMEX, on the other hand, has adopted a wait-and-see approach, saying that the new fork will first have to achieve the necessary level of security and liquidity.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSiPtqEEdPKj1vrYuCWPoPpKm4aU8eEyowhAEPvsB61XLCHBgNeUvCvCCtBtjvRbtAxKiE?format=match&mode=fit&width=640)

Holders of LUNC will receive new LUNA by providing two pictures:

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYShZJ7YfLimxYy38ZDmJBY57fv8AM7FxT3gu1qqVCSTZP5PRpWG3qzrAcb864WNpRx2WeS?format=match&mode=fit&width=640)

The size of the refund and timeframes for crediting it in full will depend on the amount of UST and/or LUNA the holders currently have. Initially, holders will be sent no more than 30% of their initial holding and will receive the rest over a period of between six months and four years.

Refunding investors is a major sticking point and one reason that many community members surveyed did not support the new form, calling instead for LUNA to be bought up and subsequently burned. Under the current plan, speculators who bought UST for 10 cents will receive the same refund as investors who bought UST for $1 before the stablecoin's collapse.

The project's decision to bin its stablecoin UST could prove a big hurdle to Terra's speedy recovery. Last year, one of the major driving forces behind LUNA's ascent was investors' desire to receive a 20% annual return from staking UST on the Anchor exchange. At its peak, Terra's total locked value exceeded $17 billion, 75% of which were UST deposits.

A series of contradictions and investor pain following the loss of investments make a successful Terra relaunch and return to its previous levels unlikely. What do you think? Does Terra have a shot? Tell us in the comments section!


StormGain analytical group
(cryptocurrency trading exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on June 02, 2022, 04:28:41 PM
Whales are dumping Bitcoin

Despite a moderate revival in the crypto market of late, major players remain sceptical. In an attempt to catch the bottom, institutional investors (companies with holdings of $1 million or more) have made a dash to the stock market, prompting the S&P 500 to recover 7% in the space of the last three days. Bitcoin, on the other hand, continues to bobble around the $30,000 mark while the number of whales in the market is falling.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSsajc2H8Y22fab8M17zvsxjp2AUrX2W7ktEyfoBHXMMsG7kGBe2zuW6qYnHi1VCu3vY78?format=match&mode=fit&width=640)

The US stock market's resurgence can be attributed to major analytics agencies stating that inflation has reached its peak and that we can expect more dovish moves from the Fed, particularly when it comes to monetary policy. It is well documented that once inflation hits a ceiling, stocks usually go up, with the notable exceptions of December 1969, January 2001 and July 2008

However, major investors do not believe that either Bitcoin or the stock market has reached a bottom. The biggest selling has been by whales (accounts with 1,000 BTC or more), while the total number of such participants has fallen to mid-2020 levels.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSsdoBnNoGaejN5SJRaNw5qZA5vvKCRtefbigxKD1kaXYrDEfAeqgPYz9g6tyh2Z1pTnCN?format=match&mode=fit&width=640)

As a result of the cryptocurrency's decline, mining has become a less profitable endeavour. For the first time in 10 months, mining difficulty corrected downwards to drop by 4.3%. Miners are turning off equipment now that Bitcoin is below its breakeven point. For this reason, several major players could review their plans to increase production capacity since lower Bitcoin prices at high difficulty levels mean longer cost recovery periods.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSkXRhR8MBpEnCPD7YkAmGtyJqtrbJop29kKubSbbXdrTTVeMMKqP4zfmCZQzEf8GEDPa6?format=match&mode=fit&width=640)

At present, the smaller players are holding Bitcoin back from further declines as the fear and greed indicator sits at severe lows.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSjpTLFsXp9YYrYDZyg5PigtUG9VH6ToTFz83uokQtwLkTa2ZDjB6o37LDDQKzth2rGT1x?format=match&mode=fit&width=640)

Looking at this metric in isolation, this would represent a good zone for long positions. Clearly, speculators and minor investors think so, with margin trading seeing renewed interest. According to OKX, the margin credit ratio currently stands at 20 points, which suggests moderate bullish sentiment.


StormGain analytical group
(cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on June 06, 2022, 09:12:28 AM
A new tradition: Tron (TRX) follows in the footsteps of Terra (LUNA)

The collapse of Terra's UST, the third-largest stablecoin, and the subsequent destruction of LUNA led to a significant correction across the entire sector. Meanwhile, the decentralised finance (DeFi) market has shrunk by almost half to reach $88 billion.

It looked as if such a hit for algorithmic stablecoins ought to scare investors from putting their money in such projects, but the highly similar USDD project by Tron has managed to attract investments of $1 billion in the space of just a month, while the company's blockchain has also ascended to third place in terms of Total Value Locked (TVL) in DeFi. And this is precisely why the Tron's native TRX coin has managed to record growth in 2022.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSukC6MMvayQoTnLk3kXgvAXxb6eqfYHiN2RmJErjNK3yMsTSbodRjE7npmjZwfGVVTDMY?format=match&mode=fit&width=640)

UST and USDD are algorithmic stablecoins that are pegged to the US dollar. In order to ensure that the exchange rate remains stable, the stablecoin is linked directly to the native cryptocurrency. With UST, that's LUNA, while for USDD, it's TRX.

Terra's collapse was caused by the fact that the team could not maintain UST's exchange rate. An avalanche of selling led to a liquidity crisis that saw LUNA totally devalued. A project with a market capitalisation of $40 billion lost 95% of its value in a matter of days. Sceptics are calling the revelations the latest proof of algorithmic stablecoins' failure as an asset class.

Terra showed tremendous growth up until these unfortunate events, while its main investment stream was from the Anchor platform, where investors were paid up to 20% annual interest for staking their UST. In early May, it had TVL in excess of $17 billion, 75% of which was accounted for by UST staking. That is to say that, over the course of a year, Terra ought to have paid out $2.5 billion in dividends. However, since the system was not balanced properly and a portion of the funds were put aside to attract new participants, the crisis was inevitable.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSiJMriyhNfjzw4PARP8NpfJbm4Pc7d1JyfWbk3DS74cZPHEUnpfrvZta17vWmjg3s6FxJ?format=match&mode=fit&width=640)

Justin Sun unveiled USDD on 5 May. This stablecoin copies Terra's model in virtually every way, except that it promises an annual staking yield of 30%. Despite UST's recent failure, USDD has already accumulated $600 million in capitalisation over the last month, with this amount expected to grow to $1.4 billion in the near future.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSrwxpUv2wTbcNqQyhv2grw6V6GXTrHUBP2xpShhX9T9eg7c4C4drrBeCyzhDqyR2ND7tr?format=match&mode=fit&width=640)

In an effort to attract investment, Terra used their own Anchor platform. For Tron, this is JustLend. Over the last 10 days, its TVL has risen by $1 billion to reach a total of $2.9 billion.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSrqd9n9DYD2z3wyTgTvxSRqgYXxhsMXYTPBSKpZfCCs6Fvupf7NrUb7VKwT6cVcyr8REn?format=match&mode=fit&width=640)

Despite the clear parallel between the two projects, investors are still pumping cash into Justin Sun's new project. But is it really worth the risk?


StormGain analytical group
(cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on June 07, 2022, 08:37:30 AM
The 'Ethereum Killer' loses its teeth

Solana was dubbed the 'Ethereum Killer' due to its ability to quickly process smart contracts with minimal commission. In 2021, the network grew from $86 million to $52.7 billion and found itself in the Top 5 cryptocurrencies by market capitalisation for some time. However, the lack of stability is increasingly leading to reconsideration of its high assessment.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYScfnkAoz7iV7QP7KgtQoJtxHbZJxL7PVppZzNQbsZkJ4wTZLnz9tDWuJNwGnCuswK4MpS?format=match&mode=fit&width=640)

Smart contracts are in highest demand in the decentralised finance (DeFi) and non-fungible token (NFT) sectors. Before 2021, Ethereum reigned supreme in this segment of the crypto market. However, as dealings with smart contracts grew, so too did the load on the network and its commission, which fairly frequently exceeded $50 per transaction.

Solana quickly won popularity with its ability to process over 50,000 transactions per second and commission below $0.01. It made its debut on the NFT market in August. By November, the NFT marketplace Magic Eden, with support from SOL, topped the market favourite, OpenSea, in terms of the number of transactions. November also saw the peak of Solana's staked funds in DeFi, reaching a volume of $12 billion and occupying a market share of 7%, while its coin traded for $240 and higher.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSiLnWAdDsY9QT878DHtPFPt3j1KGNXJoy5dL5E51jamBNpf268Gbuuz5um8EiAjEDdGkE?format=match&mode=fit&width=640)

As a result, Solana ran into the problem of growth. The network was not prepared for such wide demand and that kind of load. Developers were to blame in some situations, while an intentional attack was to blame in others. Since September 2021, the network has shrunk seven-fold, which has often led to a complete halt in transactions.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSfPKBMFRwhh2aeUNrMqmMeAkm3y5xBYd3s3YfFcfQ1RGavTM1voms6BTdHGo39n4RfYGN?format=match&mode=fit&width=640)

On 1 June, another failure occurred, leading to a 4.5-hour network outage. The reason for the delay in transaction processing was the nonce function, which is used by several crypto exchanges. The network should recognise each transaction just one time. But instead, the validators processed them several times, which led to a violation of the consensus mechanism. Solana was stopped and restarted after disabling the function.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYStFtdHPkS3pseeDas3MZFD6ZYzqknNT7rr7FT2Qq9g429K7c4Ux56zzeCUjjZJdypKwjC?format=match&mode=fit&width=640)

In the subsequent 12 hours after the blockchain was halted, SOL lost 14% of its value, and social media was flooded with criticism of its developers. The coin has already shrunk by 85% from its all-time high. For being the 'Ethereum Killer', the Solana network experiences failures far too often, and a number of investors are getting rid of the coin due to unmet expectations.


StormGain analytical group
(cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on June 08, 2022, 09:23:55 AM
Why Ethereum is looking weaker than Bitcoin

Ethereum is more practical than Bitcoin, thanks to its ability to support smart contracts. It was this characteristic that enabled the altcoin to overtake Bitcoin in terms of growth rate with the advent of the smart contract-dependent DeFi and NFT markets in 2020-2021. But Ethereum now appears to be running out of steam.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSjp7bZ18gj6hAuRuqEL1yHk1VtM2rTVoUEbdqsZjv8U1Us2cHNN3xBQstJ8EvNHajPofc?format=match&mode=fit&width=640)

The early-May collapse of the third-largest stablecoin project, Terra UST, has decimated faith in the entire decentralised finance sector. And with its 50% market share, Ethereum was unable to avoid the impact as its total locked value was slashed by $75 billion in two weeks to reach just $51 billion.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSrG9Q62Ds7LzcKBxVVSbBfmWP8sz7ikFurrZxKxoMkS5BrF2rPA6adWKc87VD6kpDghnW?format=match&mode=fit&width=640)

However, DeFi's capitalisation squeeze was not only the result of a loss of faith in the market; the general macroeconomic climate also played a part. Since the beginning of the year, the US Federal Reserve has been tightening its monetary policy, which has led to the US Dollar Index hitting a new nine-year high.

Due to the Fed's policy, institutional investors have been moving money out of high-risk assets into more conservative ones. This attitude was also reflected in investors' cryptocurrency preferences, with Bitcoin being called "digital gold" in recent years. As a consequence, weekly capital inflows into Bitcoin funds stood at $63.4 million in May, while Ethereum funds recorded outflows of $13.2 million.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSmFXJzVsLBmhikPkCCGkw9uZdJJQMB17iZpb4n3T8zPBEK113Wv6CRhgc84jXD2ZucvzJ?format=match&mode=fit&width=640)

Reduced interest in DeFi and NFTs has seen transaction commission shrink to a new low. Ethereum has a low throughput capacity, which means that users are forced to increase miner rewards during times of high market activity to ensure that their transactions are processed as quickly as possible.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYStQda4RnkoEbdaa1gm4sQj2KEKYRkbBZe7XtUqzEohaDxLM3ZoEtMQJbS5fAssJTM1TTU?format=match&mode=fit&width=640)

All of the aforementioned events and developments will inevitably lead to lower investment interest in Ethereum. And while cryptocurrency exchanges are still seeing net capital outflows to cold wallets, Ethereum inflows are at local highs.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSrsZwdLFCk5WKvGahDSeRmnHnYYrVKQn6kXbk8A9ab4CkQiizgRDWvqp3b2pUK56suxZC?format=match&mode=fit&width=640)

But Bitcoin still has one ace in the hole, and that's its in-built deflationary model. Every four years, a halving takes place (new block rewards are reduced by 50%), while the total number of coins is limited to 21 million. In August 2021, Ethereum's burning mechanism was initiated. However, total inflows are still above the number of coins burned, and ETH has no maximum issuance limit.

In a scenario where US inflation gets out of control, Bitcoin will once again appeal to investors as a store of value and inflation hedge. All other things being equal, this will result in its strengthening against Ethereum.


StormGain analytical group
(cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on June 09, 2022, 09:15:39 AM
Not at rock-bottom yet: metrics foreshadow the fall of Bitcoin

Margin trading is gaining momentum, and investment funds are seeing an inflow of investments in Bitcoin. However, faith in the strength of the current support can be deceptive, as a number of indicators predict a decrease to the $20,000-$25,000 zone.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSedweF73fMpbUkyBFykR6LvcKGzRB6vt7PNUDVn4VNAkj35hKHsia2ay6pXmqAAhx9z9c?format=match&mode=fit&width=640)

The fall of Bitcoin by 55% from its historical high and the subsequent consolidation around the level of $29,000 gave some hope for an early recovery. This was reflected in the growth of weekly investments in Bitcoin funds to $126 million ($100 million for all cryptocurrencies), and the net inflow in 2022 amounted to $506 million.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSkPTNt8Mint92K2TrfnDepMrh4pb3fAYHCXAVgsxbkFRxczeL3kXMyP5khxEs6uMXSt2z?format=match&mode=fit&width=640)

Activity can be seen not by both institutional traders and margin traders using leverage. Since mid-May, the largest cumulative position was recorded on Bitfinex: over 90,000 contracts for the purchase of Bitcoin. The previous peak of 55,000 contracts was seen in mid-2021.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYScdgdXqWo49iMeMuqerGpZFhjzWLZDvyBGTd6nrZeU7Wt1cBddxSjgbmxb9fxERse6vPY?format=match&mode=fit&width=640)

Such volumes could not occur without whales. However, this does not mean that the group is an anomaly. In 2021, traders swiftly bought at lows to then subsequently sell at a profit, but in 2020, they failed to do that, instead suffering losses.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYStLboFEyy7LpczcR9SmJrbbtcoZ7wkPHQiVW39wGsdZ5kSyRW2xKGmWHZ9YRTswYjGoAE?format=match&mode=fit&width=640)

Unlike margin traders, long-term holders (LTHs) are not as optimistic. Many of them are already getting rid of coins at a loss. As noted by CryptoQuant, the capitulation of LTH foreshadows a fall, and the next few months will open up the possibility of investment for wait-and-see investors.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSjdaYKUxNBmRqt8nJeTwLK4J9ZEtkHSGMCnHaVzvx6kVZDJL4izbnKac7QpGZKNH47Xu8?format=match&mode=fit&width=640)

However, before the window of opportunity opens, the price will test the next level. According to LookIntoBitcoin, the current "realised price" of Bitcoin is $23,600. The realised price is obtained by dividing the average cost of all Bitcoin (using the purchase price) by the total amount in circulation.

The fall of Bitcoin to the $20,000-$25,000 zone is likely to coincide with the US Federal Reserve's decision regarding its next key interest rate hike. The Fed is anticipated to increase the interest rate by another 0.5% at the regulator's meeting that will be held in the middle of next week. Raising the rate leads to an increase in the cost of borrowing and a decrease in the speed of money supply turnover, which is likely to lead to a strengthening of the American currency against most risky assets.


StormGain Analysis Group (https://stormgain.com/)
(cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on June 10, 2022, 08:59:19 AM
NFT market collapsed in May

In the last week of May, average daily NFT sales were $33 million, while that figure exceeded $150 million over the same period in April. Overall, sales rolled back to the level they were at in mid-2021.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSmAoNiY6sNcpzTAn7SzL6pZpdYbN8ofjei9KUsoXctq8DTW74Bq4TSuJQxycebiPKVrXx?format=match&mode=fit&width=640)

The cryptocurrency market's correction didn't overtake the NFT sector, which is considered by many to be an investment opportunity. When new collections from eminent brands are released, participants actively buy tokens with the expectation of a future resale.

This was clearly manifested in early May with the release of the NFT collection from Yuga Labs, responsible for the popular Bored Ape (Bored Ape Yacht Club or BAYC). BAYC ranks sixth in the overall NFT standings, with a turnover of $2 billion, and on 10 May, one of the apes was bought for 250 ETH ($450,000).

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYStyqmfn6oqJBxEsVFbdDi8ubWhfAn5QDa6WXU314z7PJHXBFnvrHzK33APrRv2mrEUxRL?format=match&mode=fit&width=640)

In the new collection from Yuga Labs, tokens are land in the Otherside metaverse. The first 55,000 plots were sold out within a few hours.

Due to Ethereum's low throughput in the wake of the hype, buyers were inflating tips for miners to get their transactions processed as soon as possible. As a result, miners earned a record $231 million per day, with commission exceeding $1,000 at its peak.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSjdjtpQJXmA7EfvvnWhCL14MZcvmstYxP4si8krRHXCzLH4tqf4sxo2KZfkPsZHZBytDc?format=match&mode=fit&width=640)

However, this surge did not lead to significant results for the NFT market, which has contracted by 65% over the past 30 days. Ethereum was also not positively impacted as the subsequent collapse of Terra (LUNA) and the flight of investors from DeFi hit the altcoin's capitalisation.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSj5DAQ3j9EyHLQrqHLobkEz5gUMNkvZJwRP2dMcN22F322jFtVwowAoxaHETuAmAyeYH4?format=match&mode=fit&width=640)

Search engines have also seen a drop in interest in NFT. The search term "NFT" in Google Trends decreased from a maximum of 100 points in mid-January to its current 22 points. The lower interest in this field leads to Ethereum's usual weakness against Bitcoin since support for smart contracts is the trump card by which the altcoin significantly distinguishes itself.


StormGain Analysis Group
(cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on June 14, 2022, 10:29:30 AM
Litecoin in disgrace as crypto exchanges delist it

Once one of the top five blockchains, Litecoin has faced new challenges and pressure from South Korea's cryptocurrency exchanges. In mid-May, MimbleWimble (MVEB) was updated, increasing the anonymity of transactions. For crypto exchanges, this caused legal difficulties for financial transactions.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSuhGmgRdgotwKPBh5Di5ayMHJsmQauBT9eoiVzU1VGkt7iZtvAqGt95SnAmsEXu9EsnGE?format=match&mode=fit&width=640)

MVEB has multiple goals, and by combining many transactions together, the record becomes similar to a set of random numbers. In this case, the previous history is included in a truncated form, which increases the processing speed. In terms of protection and privacy, MVEB is not a match for Monero or Zcash. However, this move was enough for the largest crypto exchanges in South Korea to announce the end of support for Litecoin.

The use of MVEB makes it difficult for financial operators to carry out KYC (customer identification) and AML (anti-money laundering) measures, as well as a number of other policies required by local law. Upbit, Bithumb, Gopax, Korbit and Coinone have already announced the upcoming delisting and end of support for Litecoin. So, Bithumb will stop supporting transactions with the coin on 22 June and transfers from 22 July.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYStCyqk9hTqXSYTZrTpiBRYU8zH6siJcTQERBFSKeEVUi2Ebq63nDnNCxE6EfkxVQUoJUe?format=match&mode=fit&width=640)

Crypto regulations in South Korea are some of the strictest in the world. In 2019, under pressure from Korean regulations, crypto exchanges delisted anonymous coins, which led them to drop by an average of 25% over the course of the month.

Litecoin is already trading 85% below its all-time high reached in May 2021. The upcoming delisting will probably lead to a further fall for the cryptocurrency and its exit from the Top 20 rating by market capitalisation.


StormGain Analysis Group
(cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on June 16, 2022, 12:11:38 PM
Panic in the cryptomarket

The day 13 June was dubbed 'Bloody Monday' due to the panic that struck the cryptocurrency market after another stablecoin lost its peg to the US dollar, the largest crypto exchange by volume froze withdrawals to Bitcoin and bankruptcy threatened a number of projects. However, the real troubles are yet to come.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYStzoJqeQnuPUDJQ85FWmhKpq1EeRvz4e44FSfpzFHnTM4rNpidp7Nek2UU8QWSUWo1NdC?format=match&mode=fit&width=640)

Bitcoin has already decreased from November highs by 60%, while Ethereum has dropped by 70%. Altcoins traditionally have a harder time dealing with bearish sentiment. This is true in terms of the preferences of both crypto traders and institutional investors. Since the beginning of the year, investments in Ethereum crypto funds have fallen by $387 million, while the inflow to Bitcoin funds is still positive with $451 million.

Due to the panic in the crypto market, a number of projects saw a large outflow of investments, and crypto exchanges experienced increased activity. On 12 June, the Celsius project announced the suspension of withdrawals, and on 13 June, Binance froze Bitcoin withdrawals. These events only added fuel to the fire, which is why the CEL token lost 50% in a day, and Bitcoin fell by 18%. Later, the head of Binance announced that the problem had been taken care of and that transactions had resumed.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSfQJEBXLtt3HhNPYrhjRHsxagJqoRc45oWLtq3deF87DZQGuUd9K8Z7T87vRhzPvDaguU?format=match&mode=fit&width=640)

The Tron network's USDD stablecoin is an imprint of the infamous UST from the Terra Project. Because it only emerged in early May, USDD has a small capitalisation. However, it has already faced a liquidity crisis and lost its peg to the US dollar. At the KuCoin crypto exchange, USDD's exchange rate fell to $0.91 and has yet to recover, which threatens the market with the loss of another algorithmic stablecoin.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSjpkwRateqUqXKy8wZ2iSYnsw6FFmbspqk6gZKUVZUpYXv1maP387kd15HtupU2w8o1rn?format=match&mode=fit&width=640)

The fall in the crypto market's capitalisation is a stress test that will weed out weak companies and projects focused on instant profits. Public mining companies have already transitioned from accumulating to selling Bitcoin due to a shortage of funds to cover operating costs. In the near future, a series of mergers and acquisitions is expected in this sector.

The largest public hodler, Microstrategy, is in no better of a situation. For three years, the company bought Bitcoin following an increase in value, starting at $12,000. The company's assets currently number 130,000 BTC, while its unrealised loss is $1 billion. The last purchases were made on credit, which will result in Microstrategy needing to increase its bank deposit.

However, the fall of the crypto market was not news for the companies. The US Federal Reserve's pending monetary policy tightening became known at the end of 2021 when Jerome Powell stopped considering inflation a "transitory" problem. Following the regulator's reversal, all risky assets fell, including cryptocurrencies and stock markets.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSg7vjmMaQD96DFxb7peaTZaaAMtLV7Ba65zdgT6XLLex8aMURBaK1otWR6WmgKduj6ZP4?format=match&mode=fit&width=640)

It's worth remembering that since 2020, the main investment force in the crypto market has been institutional investors (companies with investments of $1 million and more), most of whom are American residents. This also explains why the Fed exerts such a strong influence on the crypto market.

Tomorrow, the Fed will hold another meeting where it will raise its benchmark interest rate yet again. Most experts expect a 0.5% increase, but inflation, which has risen to 8.6%, could encourage the regulator to take bolder steps. In this case, the pressure on Bitcoin will increase.


StormGain Analysis Group
(cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on June 17, 2022, 11:31:50 AM
Bitcoin outflow from crypto exchanges at a two-year high

The freeze on Bitcoin withdrawals by the largest crypto exchange by trading volume, the crisis among a number of DeFi projects and the crypto market's drop in capitalisation to below $1 trillion led to the largest one-day Bitcoin outflow since March 2020. On 13 June, 123,000 BTC was withdrawn from crypto exchanges.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYStvRciU7CoCzmFqJ14FV19tczRcbvFViGQYgMPwdQUBMdHajBcDLrPjBgGzUvUr7dXKwt?format=match&mode=fit&width=640)

Blue whales (>10,000 BTC), who actively got rid of coins in May (Zone A), transitioned to accumulating Bitcoin in June (Zone B). Shrimp (<1 BTC) are more active; this group has bought half of the coins mined since November. If they were the prevailing force in the market, Bitcoin wouldn't have traded so low.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYShVGUyCfM6N5JkYd431BA2qA5sgt6QHgmugr4bNREALZY6B1Y8yiPViriRXG5qWPyaTEe?format=match&mode=fit&width=640)

However, the market remains dominated by bears, as evidenced by the negative financing rate on futures contracts. The more sellers there are in the market, the further negative the rate becomes. At the same time, buyers receive a premium for playing the long game.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSrDh2gdPu4w3QNmtfy7fMeaEk7NgNe1y6fTS36et6qCSaRFHcbRk7V9bDWYJvyJAq1UyC?format=match&mode=fit&width=640)

Today's interest rate hike by the US Federal Reserve above the expected 0.5% will delight bears, as it is likely to cause another downward wave among lower-risk assets.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSe3dUJrNy9fgEAuVvZCuwinXVoRatGhn2or9Jfg425PRGfKwRLCdL5Lru1vjXisuduPQz?format=match&mode=fit&width=640)

At the same time, Bitcoin is already trading below its realised price, which historically indicates an imminent low. The realised price is the cost of buying all Bitcoin divided by the total number available. The realised price differs from the market price because many coins remain motionless after acquisition. Now, the ratio of the market price to the realised price is 0.92. The last time such a decline was observed was in March 2020.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSgEjWX3mE1Y8XS6UjLq1c9SM1U1WBwRchGwmyQP3S5ZejUqFngFw2cED1VFiDcsx4bjot?format=match&mode=fit&width=640)

Billionaire and CEO of Galaxy Investment, Mike Novogratz, said this week that cryptocurrencies are much closer to the bottom than the American stock market. In his opinion, Bitcoin will remain around $20,000, while stocks are likely to fall by another 15%-20%.

He was supported by former Goldman Sachs hedge fund manager Raoul Pal, who told his million followers that Bitcoin would reach its bottom within the next five weeks.


StormGain Analysis Group (https://stormgain.com/)
(cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on June 20, 2022, 12:51:26 PM
New shock among stablecoins

Due to the supply of crypto and growth in capitalisation as a result of high profitability from staking, stablecoins found themselves at risk of experiencing a market-wide drop. Emotions are still running high over UST (Terra) as the Tron network's USDD faces a systemic crisis.

In April, the stablecoin UST was among the Top 3 cryptocurrencies by market capitalisation with a value of $20 billion, most of which was put into the Anchor platform for a 20% annualised return. To maintain UST's peg to the US dollar, Terra used both its internal LUNA coin and a $3 billion crypto fund.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSfSQBoaiUw8FKy6tYRTwCDLRKUkwxupCZduDSJKajxRDugiAcaBGYo7sNg1PJSmSjrTZQ?format=match&mode=fit&width=640)

It is uncertain whether the failure was caused by insufficient system stability, an external attack or vindictive actions by employees. South Korean police are investigating the latter matter. Nevertheless, UST lost its peg to the dollar, after which the crypto fund became depleted, and Luna collapsed.

On 5 May, Justin Sun presented the new stablecoin USDD, which is a calque of UST. Just as LUNA provided stability to UST's rate, TRX of the Tron network is responsible for maintaining USDD's peg to the dollar. To attract investors to his project, Sun offered a return of over 30% for staking.

Initially, this had an effect, and TRX rose in May.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSgsTp4TQtSrr9vEUjoaX5VKCnNH6Hwk2HUwHj5QCfVDMxcERoeVeqsE2Z2dLfMG1YkxUe?format=match&mode=fit&width=640)

However, the honeymoon didn't last long. USDD lost parity with the dollar on 13 June, and TRX fell by 22%.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSkWGZNeCFaeKTYa8tJimpFwoyix6ntHU14bqH5k467BDJmwBXu3mv4ZoZyu5PL17hjTwt?format=match&mode=fit&width=640)

Now Tron is trying with all its might to return its exchange rate back to normal. On 15 June, the network announced the purchase of additional TRX worth 100 million USDC. Apparently, this wasn't enough since the stablecoin is still trading at a discount.

Sun continues to laugh it off on social networks and wonders why USDD has low confidence even though its reserve is treble the coin's issuance. On the other hand, the community is unclear as to why Tron is unable to maintain a stablecoin exchange rate if it has sufficient collateral.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSehgcxKgSTFAR5t6RfGk5QpTNVgBvmrqfhvbGfFeam61xsgkgAGgeK5mzfgZUM4CMvxC6?format=match&mode=fit&width=640)

The coming days could prove especially difficult for Tron and its investors. If Sun stops additional infusions and USDD's exchange rate doesn't recover in the process, TRX will undergo a massive sell-off.


StormGain Analysis Group
(cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on June 21, 2022, 11:24:46 AM
Collateralised financing: the mortgage crisis of 2008 and the crypto crisis of 2022.

History is repeating itself. The 2008 global financial crisis was caused by the spread in the United States of CDOs (collateralised debt obligations) that promised increased returns. The same instrument led to the fall of the crypto market, where the decentralised finance sector promised an increased yield on investments. The problem is that the scheme only works in a growing market.

CDOs

CDOs are securities (collateralised debt obligations) issued by various financial institutions. During the American construction boom of 2003-2007, mortgage CDOs (including mortgage-backed securities or MBS) flourished the most. There were many different forms and combinations of CDOs. We'll take a look at their underlying basis to understand the process.

A bank issues mortgages as a lender. Mortgage recipients generate profits for the lender when they repay the mortgage. At the same time, the bank issues CDOs that include these loans as an investment strategy that promises to share part of the profits with investors.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYStvvoubsaLTm8Afrrmd4hCGXLt2ZR2mG2T9WEyCCBhXTKyi5PbbbWtML8aizRjo8Z7iX8?format=match&mode=fit&width=640)

When conditions are balanced, the scheme looks like it works. However, in practice, housing prices rapidly increase, followed by rising interest rates on loans. At the same time, to maximise profits, banks reduce the requirements for borrowers, offering loans to low-income clients and sometimes completely neglecting to check their financial health.

Since CDOs are securities, they were traded on the market and used as collateral. Later, synthetic CDOs appeared, and the connections between the financial and real-estate sectors became increasingly finer.

By the end of 2007, the housing market had had enough. Sales dropped, and some customers were unable to make their mortgage payments on time. In turn, banks faced a crisis that instantly escalated from merely a mortgage crisis to a full-on financial one. All financial instruments tied to CDOs collapsed.

DeFi

The decentralised finance sector has much in common with CDOs. Investors put money in cryptocurrency with the expectation of receiving guaranteed returns for holding a position (staking). At the same time, in exchange for the invested cryptocurrency, a number of platforms offer their version of CDOs in the form of tokens for trading or use as collateral.

For example, Ethereum can be staked directly when creating a node, but doing so is more expensive (32 ETH must be deposited), and the coin will be 'frozen' before switching to the proof-of-stake algorithm.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSrtPXZUgcptPtfoMnW2uHovLPMrQns762xHXw1gBc6daLfC28wX88jf4hByKjFCPQhJpn?format=match&mode=fit&width=640)

At the same time, Lido offers the opportunity to stake any amount of ETH in exchange for stETH tokens. These tokens can be used in other stakes as collateral and converted back to ETH.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSrAK9mNRxepH8gzq1BFLvip4PGvJHxrfe151U9kzqgoyFSa8jgxKXEWi1mSFMW9GU8Pp2?format=match&mode=fit&width=640)

When the market was growing, everyone loved the usability of stETH. The token was bought by ordinary users and investment crypto funds alike. However, when the market fell, a liquidity crisis arose. As a result, stETH's rate no longer corresponds to its parent cryptocurrency, and fewer funds remain in the pools that provide the possibility of exchange. On Curve, for example, 491,000 stETH is now worth only 110,000 ETH.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSiDW9DgJMpbo9WpLNz19iLKEecrCkEpYipyxZmRsfqW5FkkUAvYgrJUcw4oUJMXCsjVwk?format=match&mode=fit&width=640)

Celsius and Three Arrows Capital (3AC), both verging on bankruptcy, also invested in stETH and used the token for staking. By reinvesting the coins, they promised investors increased returns. For example, back in September, Celsius promised up to 17% in annual yield. Now the company has blocked customers from withdrawing funds, which has already drawn the attention of a number of regulators in the United States.

3AC is hastily selling some of its crypto assets in order to increase the collateral for open positions. According to the Financial Times, as the result of a margin call, 3AC has already lost part of its positions, at least $400 million.


StormGain Analysis Group
(cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on June 22, 2022, 09:44:04 AM
Solana on brink of collapse: Solend community votes to take over whale's account

The decentralised finance (DeFi) sector continues to heat up as the overall market declines, assets are being remortgaged, and a high share of margin transactions is leading to projects' collapse. In three months, the volume of funds staked in DeFi decreased by 64% to $57 billion, and new methods of saving individual platforms risk a complete loss of investor confidence in this sector.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSr9pEnfzEMuGV6qcFwmyzKbunW7PDgaA5jZLaSrku8sRbRVSZDxqTKLmMborZuUorKDne?format=match&mode=fit&width=640)

This time, it was the Solana-based Solend platform that stood out. In April, its assets exceeded $800 million. Despite the platform's stated decentralisation and autonomy, it put a governance proposal up for a vote: whether to change the smart contract and expel the largest whale by forcing the closure of their positions outside the network.

According to management, the whale had staked 5.7 million SOL primarily in stablecoins to obtain guaranteed annual returns. Because SOL is declining, the volume of marginal support for whale positions is falling. When SOL reaches $22.30, the platform must liquidate the coins deposited by the whale in a stop-out.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSro5GtN4BkTKBADPoiPtmoCXSz9v2wZAcPcV59LLxZNESmwKVAmPSJ7Ua4FeTGLXdMN1L?format=match&mode=fit&width=640)

The problem is that the developers don't want to deal with the sale of such a large volume of SOL (about $21 million at the time of liquidation) through their own platform. For Solend, this presents additional risks due to the lack of liquidity and fears over the collapse of SOL, the platform's base coin. That's why, on 19 June, without prior announcement, Solend's management invited the community to vote to change the smart contract to allow Solend to take control of the whale account without permission and make its deposit over-the-counter (OTC).

Due to haste in voting, it was barely possible to meet the quorum of 1%, and 86% of the votes belong to one address.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSkSiSsDfDSwkDD7yCY7Gy9jW2d1AyquzTuAmsoDKWjKGN8yiUAvv1sCdeRaShnmCJeoy8?format=match&mode=fit&width=640)

Changing a smart contract to deal with an emergency situation is not an isolated case. Vitalik Buterin once initiated a hard fork of Ethereum due to a hacker attack on The DAO fund. However, many users regard such steps as an attack on decentralisation and the main tenet of the cryptocurrency world: "code is law'.


StormGain Analysis Group (https://stormgain.com/)
(cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on June 23, 2022, 09:53:15 AM
Bitcoin: largest realised loss and outflow from ETFs

Bitcoin's 70% drop from its all-time high, the expectation of further tightening of the Fed's monetary policy and a recession in the United States have led to a number of new lows. The world's first exchange-traded investment fund (ETF), which was launched in Canada, saw the withdrawal of half of its investments in just a day. The fund's assets decreased from 47,800 BTC down to 23,300 BTC.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSiHE85xVWvnXP2Ufsq13kR94tP9oSvcD8fRbg7pWr8E8Coh9bWRZBpjyk95iKXWAUPiMU?format=match&mode=fit&width=640)

Realised losses are the difference between the purchase price and the subsequent sale of the coin along the chain. They also reached an all-time high of $2.4 billion per day and $7.3 billion over three days.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSjgrSkMprPPj4nW5eEHyubhiL41RqVSZxKgUsnsWsRBBuNx1q5K4AWBo3C81i5jbZxiUn?format=match&mode=fit&width=640)

Miners are in agony. In recent years, they've expanded production capabilities by attracting external investment. Now, their current combined revenues are 65% lower than the annual average (the Puell Multiple). The situation was only worse at the end of 2018 when Bitcoin fell by 85%.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSjooHYbYHsnBUP9Jtg1LjqYuBjKFmwVGqJXXNveCVfvDddHxUP3nEDrUyfFHuYbfoSTUS?format=match&mode=fit&width=640)

Under pressure from negative trends, long-term holders (LTH) have reduced their cumulative inventories by 1.3% or 178,000 BTC over the past week. The speed at which they are parting with their coins exceeds that seen in 2018-19, but it is negligible compared to the sales arranged during bull sprints. Despite unrealised losses, LTHs mostly maintain their Bitcoin.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSrrvR7FgUVMAZkCMfhhhd9KMF8r4i16pa6JVJRs1Tz3JPr3wSQjvwMR33RQBpnd6Ma2dL?format=match&mode=fit&width=640)

The main panic is seen in the DeFi sector, where the unbalanced decisions of a number of projects have led to events such as the complete ruin of depositors, the freezing of clients' funds or the rewriting of a smart contract to sell off the assets of a whale investor.

Due to the reallocation of coins, the presence of synthetic cryptocurrencies (for example, stETH) and the love of excessive margin trading, the cryptocurrency market is currently experiencing an immense amount of volatility and outflow.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSjnCZ6zUvJLr5K5WWLWbsPmFSkMeZRtYbaF7JqLHw6P3gwDJRDufGoYgAoAwc49RBiLUN?format=match&mode=fit&width=640)

On the other hand, without any of these elements, capitalisation growth and overall investment attractiveness would not be so significant. It's hoped investors will be more cautious and that investment products will be more balanced in the next bull cycle.


StormGain Analysis Group (https://stormgain.com/)
(cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on June 24, 2022, 12:45:40 PM
Bitcoin miners' pain

Hard times are here for miners, as Bitcoin has dropped by 70% from its all-time high, and the complexity of the calculations is only 3.1% below the record-high reached in May.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSrwf2doUcR8DhCE2M4yDWkfqEruSBH7reTas4xeAZti9NmGUWoj6NUJMqNdAU9vk91Je2?format=match&mode=fit&width=640)

The cumulative yield from mining is now 65% lower than the annual average (the Puell Multiple). At the same time, the Bitmain Antminer S19 ASIC is performing 80% worse than it was in November, and the popular S9 model has completely lost its profitability.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSjooHYbYHsnBUP9Jtg1LjqYuBjKFmwVGqJXXNveCVfvDddHxUP3nEDrUyfFHuYbZFudLA?format=match&mode=fit&width=640)

As most mining companies increased their mining capacity by attracting investment, the industry crisis led to a drop in operating income. To cover the costs, public miners, which make up 20% of the global hashrate, have switched to actively selling Bitcoin.

According to estimates by the analytical agency Arcane Research, public miners sold more coins in May than they mined during the month.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYStyV3rMErJFLcdEPEQ2UA1hFDAbV2zSTVtywTQzCs3RvLSfgDSXnzutx9itrJMVbxyPXL?format=match&mode=fit&width=640)

Their remaining supply is estimated to be 46,000 BTC or $943 million. In the event of a protracted consolidation or continued decline in Bitcoin's price, public miners will increase sales, thereby aggravating the situation.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYStLkGsrB5ekWNnRdoyzLuZzTTeCRmZkYrMi1Rgt6gF8oWbqZrzqG3yGVdUFmFk7xdptdU?format=match&mode=fit&width=640)

Miners who have placed their equipment in Iran are especially hurting. Until the most recent incidents, the country looked to be the most attractive due to the presence of state regulation of crypto mining and extremely cheap electricity. In terms of the cost of kilowatt-hours per household, Iran is in the Top 3 in the global ranking. For miners, rates are no more than 4 cents.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSeggUbJTFegcvptRo8fgg6kX8ag3S4xmrKBDDpkKGoiE5fpSfGb58Z5bbKv4LAnATPR3c?format=match&mode=fit&width=640)

According to the University of Cambridge, Iran's share in the peak reached 7.5% of the global Bitcoin hashrate, but within a year and a half, the figure fell to 0.12%. Since the introduction of licenses in July 2019, law enforcement agencies have closed more than 7,000 illegal farms, seizing hundreds of thousands of devices. However, these efforts were insufficient.

Contrary to the concluded agreements, Iran unilaterally decided to completely turn off miners from the beginning of July due to an electricity shortage. That would affect 118 licensed mining companies. According to the Iranian Ministry of Energy, these companies are responsible for the 20% increase in electricity consumption. The shutdown will last at least a month.


StormGain Analysis Group (https://stormgain.com/)
(cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on June 27, 2022, 09:56:16 AM
USDD (Tron): Fake it till you make it

Stablecoins are a link between fiat and cryptocurrencies. Crypto exchanges use them as a base currency, and users often stake them to generate income protected from market volatility. But an 8% annual return on Ethereum stacking could lose meaning when the cryptocurrency's value drops by 8% or more. Nevertheless, staking a stablecoin preserves the investor's initial capital and pays 'dividends' even in case of a massive decline in the crypto market.

This explains increased investor interest and the rise of the Terra (LUNA) project, which promised a 20% yield on the UST stablecoin staking. UST was an algorithmic stablecoin backed by the internal LUNA coin and a $3 billion crypto fund. The volume of staked funds on Anchor's UST-stacking platform increased 23-fold to $17 billion in just one year.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSrr9VGuEmXzj8E2WyfmQC4wBhV2f89oGqyLSwMV956Q73TSM2t3vCfoXGSDwRVgZnjjV8?format=match&mode=fit&width=640)

On 9 May, UST lost its peg to the US dollar, leading to a massive exodus of investors from Anchor and a sell-off of LUNA. It's quite likely that the whole system was poorly balanced and that the high returns were covered by, among other things, funds from new depositors. South Korean police are currently investigating the matter.

A similar stablecoin was launched by the Tron network on 5 May. The exchange rate of Tron's stablecoin, USDD, is supported by the TRX internal coin's capitalisation and a crypto fund consisting of Bitcoin, USDT and USDC. The network claims that the collateral exceeds the issuance by 325%.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYShfca4CCh6ZzUwVktZ9XPUmMfS8DjAvFoCQtx6XAiywxuQjaojoffwbyJ8YHDgY1nKNxW?format=match&mode=fit&width=640)

Justin Sun, the founder of Tron, launched the stablecoin at a rather unfortunate time. Institutional investors are cutting back on investments due to the US Federal Reserve tightening its monetary policy, and the DeFi sector has been hit by a sell-off due to crises facing several projects, including Terra. To attract users, Sun has offered a staking yield of over 39%.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSm5UYYQf4x9kTRfxmZuVnwKXBiVc21qeTsDNCx6n2rBT9wta8K9jhsK11Ne3jJk2xwZcz?format=match&mode=fit&width=640)

However, the reserve's three-fold excess over its issuance, the stablecoin's high annual yield from staking, and an additional $100 million TRX buyback are all incapable of bringing USDD's exchange rate back to its normal level. The stablecoin has been trading at a discount to the US dollar for 10 days, reaching a low of $0.93.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSdxaVaoDhZPxo2oqFiuNqNHnZEJUtLdpDgjZuUjShF54NMDzXYCKVnojW8yK8VaXGrBQr?format=match&mode=fit&width=640)

Either by running out of options or as a verbal intervention, the network has declared the stablecoin's acceptable volatility to be within ±3%. However, the fact that the exchange rate has been underwater for so long raises red flags.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSj46EbBsq9AS5ZzQHh7MmGfxwsu6Kf26WtULvaLpjW1WQJgrj5v3sxJcejz4ppZk5Qj2E?format=match&mode=fit&width=640)

Because the stablecoin was launched only recently, its capitalisation is significantly less than that of the entire network, a ratio of about 1 to 10 versus 1 to 2 for Terra. It adds some stability as the outflow of investors won't result in a rapid loss of liquidity. Thanks to this wiggle room, USDD's capitalisation continues to rise. That's why TRX is trading down by only 13.5% this year, unlike most coins.


StormGain Analysis Team (https://stormgain.com/)
(crypto trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on June 28, 2022, 01:09:42 PM
Why Ripple is recovering faster than the market

Several bits of positive news and Ripple's strong position in a protracted dispute with the US Securities and Exchange Commission (SEC) led to XRP's price rising by 10% over the past 24 hours.

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For four years now, there has been a legal battle between Ripple and the SEC over the issue of whether XRP is a digital currency or a security. If it's the latter, a company selling tokens without an appropriate license is a criminal offence.

At one point, the scales were tipped in the regulator's favour, which is why XRP was delisted on a number of crypto exchanges, and its leaders planned to change the jurisdiction it was in. But the SEC was never able to convince the court of the validity of its claims since no clear distinction has yet been presented between the two concepts. In contrast, Ripple has adopted offensive tactics lately. The company is confused about why the SEC approved Coinbase's IPO in April 2021 if the crypto exchange traded XRP and didn't have a broker license.

Another point in defence of Ripple's position is a video with the former director of an SEC department, William Hinman, in which he claimed that BTC, ETH and XRP are not securities. The SEC initially argued that this was Hinman's personal opinion and now refuses to identify the person in the video at all.

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The SEC's unclear position raises the possibility of Ripple winning the lawsuit. This enabled the company to declare its intention to expand, despite the crisis in the crypto world. Yesterday, news spread that the company was opening its first office in Canada with a staff of 50 people.

The company also recently announced its entry into the metaverse market in partnership with FLUF World, which has over 195,000 NFTs issued and over 340,000 transactions. FLUF World plans to launch an open metaverse, where XRP will serve as the base currency for a number of sub-projects.

Ripple uses distributed ledger technology (DLT), but unlike Bitcoin or Ethereum, XRP is a centralised coin. This approach allows for fast and cheap transactions, but trust in the coin depends entirely on the parent company. If Ripple wins the trial, XRP is set to see its price rise despite negative trends in the industry.


StormGain Analysis Team
(crypto trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on June 29, 2022, 10:07:35 AM
Bitcoin retakes $20K, prompting crypto market stabilisation

A slight market recovery over the weekend as Bitcoin (BTC) traded at over $21,000 on Sunday. The original cryptocurrency recovered some lost ground after a volatile Wednesday, which saw BTC drop below $20,000, dragging many altcoins down with it. Similarly, Ether (ETH) and other cryptocurrencies are now surging in line with Bitcoin as the crypto market stabilises, boosted by positive news worldwide.

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The crypto market's stabilisation continued the trend of BTC and Co. correlating with tech stocks, as the S&P 500 and Nasdaq both made modest gains, signalling a willingness on the part of investors to take risks once more.

Altcoins benefitted from the positive trend in the crypto market toward the end of the week. They include Avalanche (AVAX), which rose over 4%, outperforming Bitcoin and Ether, and Polygon's MATIC token, which jumped 19% on Thursday after Polygon rolled out improved privacy features for DAOs on its network. Another altcoin, Cosmos (ATOM), also gained 12%.

As the weekday trading resumes, the $20,000 level remains a crucial point to watch for BTC. Historic drops for the first cryptocurrency around this level include the infamous 2017 collapse when Bitcoin neared $20,000 before tumbling by 84%. A similar move now could send prices below $10,000, triggering sell-offs across crypto markets, as well as being an entry point for newcomers looking to buy the dip.


StormGain Analysis Team
(crypto trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on June 30, 2022, 10:11:26 AM
Crypto winter continues as regulators criticise digital assets

Bitcoin (BTC) rejected the $21K support level on Monday, following US equities in a sell-off that lowered the original cryptocurrency's price by 2.8% over the last 24 hours. The wider crypto market followed suit, with Ether (ETH) dropping by over 2% and Ripple (XRP) losing over 4%. Although Bitcoin bulls are setting their sights on a $21K BTC price this month, the first crypto remains below its 200-week moving average and seems likely to close the month below this metric.

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The crypto market crash, especially the dramatic meltdown of Terraform Labs and the TerraUSD and Luna cryptocurrencies, has led lawmakers around the world to point the finger at the flaws of the digital asset market, especially when stablecoins turn out to be not so stable.

Citing the Terra collapse, US Treasury Secretary Janet Yellen urged Congress to enact a "comprehensive framework" to regulate stablecoins. The SEC is reportedly investigating TerraUSD's marketing, with chairman Gary Gensler warning that crypto projects promising sky-high returns should be treated with scepticism.

A recent article by Yifan He, chair of China's Blockchain Service Network, condemned private cryptocurrencies as Ponzi schemes, although he supported cash-backed stablecoins as legitimate money. Unsurprisingly, this echoes the Chinese government's own plans to develop a digital yuan CBDC while cracking down on other cryptos.

Swiss National Bank (SNB) deputy head Thomas Muser also called out the entire concept of DeFi, saying that the whole ecosystem would collapse if it had to comply with the same financial regulations as institutional finance.

Singapore regulator Sopnendu Mohanty, chief fintech officer of the Monetary Authority of Singapore, promised to be "brutal and unrelentingly hard" on any misbehaviour from crypto companies.

While new regulations could limit some of the get-rich-quick potential of new crypto projects, it may be essential in the long term to prevent another TerraUSD fiasco.


StormGain Analysis Team (https://stormgain.com/)
(crypto trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on July 04, 2022, 01:45:50 PM
Market Analysis: has BTC bottomed or not?

In the great guessing game of the crypto market, the current hot question is: has Bitcoin (BTC) hit bottom? The answer would be key to predicting whether prices will recover or continue downward. Key on-chain and technical analysis indicators seem to point to BTC's price having already bottomed out, citing the recent dip to $17,600, but a recent report has predicted that its price could fall to as low as $10,000 in the short term.

The current global economic situation of rising inflation and interest rates has exacerbated volatility in crypto markets and forced a bearish trend across financial markets generally. Bitcoin failed to break past the $21K resistance, sinking to near $20K once again on the last day of trading. Ethereum (ETH), the second-largest cryptocurrency by market cap, is trading under $1,200 at the time of writing on 29 June 2022, a decrease of over 7% in the last 24 hours.

Some crypto investors believe that Bitcoin's price still has more room to fall, possibly even to as low as $10K in the next few weeks. They point to historical drawdowns during previous bear market cycles. In 2013, Bitcoin's price dropped by 85% over a period of 407 days. A similar record drawdown occurred in 2017 when BTC's price fell by 84% over 364 days. The current drawdown is at 229 days and counting, resulting in a 73% drawdown so far.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSrxx1NKjpckCT8jg45qhyNDt3KBnrZgZ6WrvKV1N9MZr8A5iqbwURLAFUehMy7GPf6E9U?format=match&mode=fit&width=640)

Analyst firm Arcane Research published a report with the above graph, commenting that if Bitcoin continues to follow the pattern of historical cycles, a bottom of around $10K should occur in Q4 2022.

However, Arcane Research also took care to point out how different today's circumstances are compared to previous price drawdowns, noting that "Bitcoin is now far more intertwined in the broad financial markets, with the Fed, US elections, crypto regulations and the stock market impacting its performance".

Given how much crypto has become a part of institutional finance and a part of many retail investors' portfolios, 2022's market may break historical trends from when crypto was still a very niche technology. New investors looking to accumulate BTC should keep an eye out for it to hit bottom, as this will be the cheapest time to enter the market and buy Bitcoin.


StormGain Analysis Team (https://stormgain.com/)
(crypto trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on July 05, 2022, 11:08:20 AM
The cheapest cryptocurrency to mine in 2022

Cryptocurrency mining is no longer as profitable as it was a few years ago: Competition among miners is growing, and the mining difficulty is growing along with it. Nowadays, making money from mining crypto requires investment and careful business planning. However, this doesn't mean there's no place for newcomers with limited finances in this industry anymore. And one of the first questions the mining newcomers face is: "What is the cheapest and easiest crypto to mine?".

What is the cheapest cryptocurrency to mine?

To figure out which crypto is the cheapest to mine, you have to understand what the cost of mining is comprised of. It consists of two types of costs: capital and current expenditures.

The capital expenditures for mining usually include:

- Cost of mining equipment. High-performance mining equipment isn't cheap, but if you want to start by mining on your home computer, you don't have to spend extra money.
- A room for mining equipment. If you're not planning to engage in large-scale mining, you can do it with premises you already have, such as your own home.

In terms of capital expenditures, the cheapest cryptocurrencies to mine are those that can be mined in your home with your computer. This automatically filters out cryptocurrencies that are now inefficient to mine without ASICs, like Bitcoin.

The current expenditures on mining generally are:

- Electricity prices. Cryptocurrency mining is energy-intensive. For this reason, electricity costs account for a large share of the cost of mining.
- Maintenance. For beginners engaged in small-scale mining, such costs are usually very low.

Thus, if you're mining at home on your computer, your highest cost will be electricity. The problem is that due to high competition, the profit margin of mining is quite low. And if you live in a region with high electricity prices, mining can become unprofitable even if you use highly efficient equipment.

The cheapest way to mine cryptocurrency

So, as you can see, the cheapest way to mine cryptocurrencies is to mine on a home computer in a region with inexpensive electricity. Depending on your computer, it may be more profitable to mine on a GPU or mine coins whose hashing algorithm allows them to be efficiently mined on a CPU, such as Monero.

However, if there is a cheaper way to mine, it's cloud mining. It doesn't require the purchase of equipment or the payment of electricity bills. However, it has its own drawbacks, including a lack of flexibility in choosing a coin to mine and the risk of fraud. In addition, cloud mining contracts still cost money. However, it's possible to try cloud mining for free. The cryptocurrency platform StormGain offers such an option. You just need to register (https://stormgain.com/bonuses/bitcoin-mining#modal_register) on the platform, go to the miner page and click 'Activate'.

The lowest difficulty cryptocurrency to mine

With cryptocurrencies already in existence numbering in the thousands and new ones emerging constantly, it's no surprise that many cryptocurrencies have low mining difficulty.

Such cryptocurrencies are easy to mine, but the disadvantage of choosing these cryptocurrencies for mining is that they're not widely known and have a low price.

In addition, such coins are often not listed on major cryptocurrency exchanges, so selling them can be difficult. And when their price, and hence the profitability of mining, increases, they begin to attract the attention of miners. As a result, the difficulty of mining increases accordingly and the profitability of mining drops again.

The cheapest crypto to mine in 2022

Which particular cryptocurrency will be cheapest for you to mine depends on the equipment you intend to use. The easiest way to find this out is to use an online mining calculator, such as whattomine.com.

However, below, we list a few cryptocurrencies that are among the cheapest to mine in 2022.

(https://steemitimages.com/p/FUkUE5bzkAZSUQtscsBsFx5imG6WU3gSfePkK5Gond6i72KWyJna3E8A575dwMi5YT2jgB7SszU4Gyzu5fzPp5PHjCfCVjaMj16yqdamQ53pszi2pbg5rT9e1LQywEAB8HjHuHLiCZsSQjtzqa9ikMu7WtrywxQ9qfXc?format=match&mode=fit&width=640)

Monero (XMR)

One of the best-known cryptocurrencies with anonymous transactions. Monero uses the RandomX hashing algorithm, which allows the coin to be efficiently mined on CPUs.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSji88iykUSixBQWRebZhiXHRgqVXYdyGztK1w8QHKxmVZJvwm77jgiu8L6Xnhjq8C7dBL?format=match&mode=fit&width=640)
Monero (XMR) mining stats (as of 30.06.2022)

Ravencoin (RVN)

RVN is the platform coin designed for easy tokenisation of almost any asset. Ravencoin uses the ASIC-resistant KawPoW algorithm and is one of the most efficient cryptocurrencies in terms of mining on older video cards.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSiMm6q7WEuHoSJXLTfcV8WLR5RfxCvA9DEm11NEMCiyBuNizvzxEQWsrnrsvppp2FPLM4?format=match&mode=fit&width=640)
Ravencoin (RVN) mining stats (as of 30.06.2022)

(https://steemitimages.com/p/FUkUE5bzkAZSUQtscsBsFx5imG6WU3gSfePkK5Gond6i72DHnb3RurdSdTjUuGR4PJvqsk5d2cFPNU8QiFeB3A1eNCLWxd8wf75mfgakgTTvnJ6No4aXa8ChbVRe9zcbM7a9q58K7SaeVuoyCsEpVmxJqoJgc3XRGDEn?format=match&mode=fit&width=640)

Sero (SERO)

Sero, or Super ZERO Protocol, is a still relatively little-known project that has positioned itself as the world's first privacy protection platform for dApps. Also, like RVN, good for mining on older GPUs.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSkTPBe24VJPK1nR22iYGbHrAniB2CCMkNuzHjCAUStDRAXe7oNKSY4BS8YYnRcdiBw7Ft?format=match&mode=fit&width=640)
Sero (SERO) mining stats (as of 30.06.2022)

(https://steemitimages.com/p/FUkUE5bzkAZSUQtscsBsFx5imG6WU3gSfePkK5Gond6i72CGDpsRCzKzitmMFXbitwLk5M3QXni8crD8zu8aabJL29zt2ixTu7LmsUQxohc1V6Jt1js62kZ8kr2VMBMsFNAS48rxD1vLbnLyZDE1NWW8YmSytYHgLhYS?format=match&mode=fit&width=640)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on July 06, 2022, 04:11:40 PM
The NFT market has fallen so far that fees in Ethereum are now back at 2020 levels

For smart-contract-supporting blockchains, the main driving force for the past couple of years has been decentralised finance (DeFi) and non-fungible tokens (NFTs). In 2021 alone, each of these segments of the cryptocurrency market grew by an order of magnitude as DeFi rose to $180 billion, and the NFT sector to $25 billion.

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However, the crisis of this year led to a large-scale exit of investors not only from the financial, but also from the cultural sector. NFT's daily turnover decreased to 16 thousand tokens (or $13 million) — levels unseen since June of last year.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSrnsaSNLR3BKoDcrUguKno846HsJCkwY79zUcjo1aaftwp1GjC8xDWAQxDSAcbg7jhVci?format=match&mode=fit&width=640)

A bright spot among the statistics is the release in May of a new collection from Yuga Labs, whose bored monkeys continue to hold the top monthly rating with a turnover of $58 million in June. Three weeks ago, one of the pictures sold for 1024 ETH or $1.17 million. For the time being, the Bored Ape Yacht Club collection boasts a turnover of $2 billion and third place in the overall standings after Axie cryptopanks and animals.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSgxfiBFW5RBQpuRNn5ZSEMKkVymDTvPBHcr763tCDDccGSRkzkG8oCequkhkNQD9kqDEN?format=match&mode=fit&width=640)

The release of a new collection complete with land plots in the Otherside metaverse led to a short-term surge in commissions on the Ethereum network in May, but the downtrend has now resumed and transactions now cost less than $3. This is the same level as August 2020.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSsbXRqhLPNy5ZDXgjFKyrjevFvaR5qUszWzKf8nbkHzWWUmtLDotv2T23hjqDsc7iFeNr?format=match&mode=fit&width=640)

More than 90% of all NFTs are minted on Ethereum, and Yuga Labs previously noted that it will continue to use only this network for its collections. The advantage of Ethereum over younger and faster competitors is in its extremely high levels of security and stability. For example, in Solana, you will pay less than a cent for commission, but at the same time, the network has gone down seven times over the past 10 months, with transactions completely ceasing.

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Declining interest in NFT and DeFi makes Ethereum less in demand. On the one hand, this is leading to lower commission. But on the other hand, the coin is also becoming less of an attractive investment compared to Bitcoin.


StormGain Analysis Team
(crypto trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on July 11, 2022, 11:34:41 AM
Bitcoin: who's selling and who's buying at the moment

The collapse of a number of projects has led to a full-scale cryptocurrency sell-off, wiping almost 70% off the market's value. Among groups of investors, the largest outflows have been recorded among institutional investors (companies with investments of $1 million or more), public miners (who expanded production on credit), and speculators. However, there are also those who have accumulated historic levels of coins.

The crisis in the cryptocurrency market has led to a decline in the number of active addresses in the Bitcoin network from a peak of 1.2 million in May 2021 to the current level of 0.9 million. The rate at which participants are entering the space has decreased to historic lows unseen since 2018-19, with no more than 7,000 new users registering each day.

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The reduction in the share of exchange transactions as a proportion of total transaction volumes is a sign that speculators and casual players are exiting the market. In periods of crisis following a rally, the share of exchange transactions was as high as 94% in February 2018 and 80% in May 2021. Now the figure is back below 50%.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSg9t1yDZy1LrcB7fJzPDQHp6f52qwcivKfR2VWeDRGMbEtGkrWwqfWRgFuQ5L5PmGJgrz?format=match&mode=fit&width=640)

In addition to speculators, public mining companies and institutional investors exerted serious pressure on the price over the past two months. Thus, in May, public miners sold more coins than they mined in a month to cover operating expenses and pay interest on loans. And in June, institutional investors withdrew a record $188 million from crypto funds due to the Fed's tighter monetary policy and the growing risk of recession.

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The fall in prices led to a liquidity crisis and the collapse of a number of crypto projects. Fear of further routs led to increased withdrawals of Bitcoin to cold wallets. Over the past three months, 143,000 coins have left the market. As a result, the total balance held by operators decreased to 2.4 million BTC.

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The best accumulation figures can be seen among whales (>10 thousand. BTC) and shrimp (<1 BTC), with shrimps' appetites reaching an all-time high of 60,000 BTC a month. The wallet replenishment rate exceeds the previous record set in December 2017. Whales have reached an absorption rate of 140,000 BTC per month, but the figure has not yet exceeded the bull run high of 2021.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSgpDk13BhPNdo96vsGz2rxYkegogmvmMcqW13rbernBVgLaevyFPMbFYzy7zVeePPcbZ8?format=match&mode=fit&width=640)

A Bitcoin price of $20,000 is seen by Whales and Shrimp as a very significant level. If public miners didn't have an urgent need for cash, they would just as likely abandon selling in favour of hoarding. However, it is worth bearing in mind that the macroeconomic environment remains negative and the Fed will continue to tighten monetary policy during the course of the year.


StormGain Analysis Team (https://stormgain.com/)
(crypto trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on July 13, 2022, 11:56:50 AM
Jumping on a departing train: Ethereum super ASIC now on sale

After a year in development, Bitmain's Antminer E9 super ASIC was launched on July 06. Back in April, Ethereum developer Tim Beiko strongly advised against investing in mining due to the network's impending transition to proof-of-stake (PoS).

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Based on technical indicators, the Antminer E9 is the top device for Ethereum mining and is equivalent to the power of an assembly of 32 Ge-Force RTX 3080 graphics cards combined. The ASIC has a maximum hashrate of 3 MH/s for a power consumption of 2,556 W. The device generates an income of $39 a day, and at the current rate of ETH will have paid for itself in 8.5 months. For comparison, a single RTX 3080 generates only $1.3 per day, and takes over two years to pay for itself.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSgt6c4xKqZiXYehWyUYThDQj5GGZJ3yvM6N9oxyW4WLiJ4cYxLgH2aJdB1xYeb6SqiP9x?format=match&mode=fit&width=640)

Ethereum miners make more income from tips from gas fees, than from block confirmation. In May, they collectively earned a record $231 million per day due to the launch of a new collection and the sale of NFTs from Yuga Labs. The Ethereum network cannot process more than 20 transactions per second, forcing users to charge higher fees to get their transaction on the block as early as possible.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSjdjtpQJXmA7EfvvnWhCL14MZcvmstYxP4si8krRHXCzLH4tqf4sxo2KZfkPsZHZBytDc?format=match&mode=fit&width=640)

Due to increased revenue from gas fees and the potential growth of Ethereum in the future, buying an E9 looks like a worthwhile investment, if you don't take the upcoming transition to the PoS algorithm into account.

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Miners are now responsible for confirming transactions on the network and assembling blocks. Low throughput means that during periods of increased demand, gas fees for users exceed $50. This harms both the expansion of the network and the involvement of new participants, with nascent crypto projects increasingly choosing competitors as their base blockchain.

The problem will be solved by the transition to PoS, where validators will assemble transactions, and the need for miners will disappear. The test network has been under development for several years, and its "Merge" with the main chain keeps getting postponed. However, there are more and more signs that the move will take place this year. For the same reason, developer Tim Beiko made calls in April to abandon investments in Ethereum mining.

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The most recent potential date of the "Merge" was given as August, and Q3 of this year appears on the project's website. Now the test network is undergoing the last run throughs, and despite the short-term shutdown of a third of the validators at the Sepolia stage, the test results are satisfactory.

After the transition of Ethereum to PoS, miners will have to move their focus onto other coins, but profitability there is much lower, and they will have to forget about the increased premium for processing transactions. This reduces the feasibility of buying an E9, which, unlike graphics cards, is a highly specialised single-cluster device.


StormGain Analysis Team
(crypto trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on July 14, 2022, 08:54:29 AM
Sharks actively buying up Cardano ahead of major hard fork

Cardano's fall began in September 2021 with the Alonzo hard fork, which added support for smart contracts. The upgrade paved the way for the fast-growing NFT and DeFi segments, which implied an increase in network usage and a rise in the coin's value. Investors were buying up ADA so actively that their share has exceeded the combined volume of whales and traders, with Cardano making it into the Top 3 of the rankings.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSen3cum6ufguqaX4vCV3hLaBGZami8J9DkfdGdXVaZBcMYJtaN9HiiwRXZVbibeHWkAQe?format=match&mode=fit&width=640)

But things have gone awry, with the network facing enormous workloads and some users accusing the blockchain of being unable to process more than one transaction per block. Developer Charles Hoskinson denied the accusations and was supported by partners from young projects.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSiJzSJNkA2YpEz1SudR3mUois1aae2fRNyAz2VLGZWchU4XLmPX8i6EiuH5idksTfNGiS?format=match&mode=fit&width=640)

For example, the decentralised exchange SundaeSwap promised to address its predecessors' shortcomings but still faced network overload and transaction delays on launch day (20 January 2022), which increased the outflow of investors.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSm4yQsgRZQeYd5MNKe8C4vFsWCKJr5TdgBYP57EcVj2JRGS3Y5yNrb7DVpz2AHBmjnf2n?format=match&mode=fit&width=640)

Hoskinson promises that everything will change with the Vasil hard fork, which will add pipelining, increase network capacity and avoid a number of detected bugs. According to developers' estimates, Vasil is the most significant update to Cardano since it entered the Shelley phase.

Major market players seem to share their optimism. Sharks with wallets of 10,000 to 100,000 ADA have added 79 million coins to their reserves in the last month.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSiCiS2GUe6sRHGvpNRggDEG97NKqgGNP9w4XbAJw9GcUWu36fvvLtT66eQwEU3X8w8bB4?format=match&mode=fit&width=640)

Over 1,000 projects in various stages of development are also awaiting the update. Most of them are NFT-oriented.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSedS5i8zDq7FojfUDvDKfSDrczS412rAVMjGtVpc2mJD712er9G4ELiWN1M6PTpPd2zeS?format=match&mode=fit&width=640)

The Vasil update should be rolled out by the end of July. If the network succeeds in achieving its goals, the number of projects implemented will increase manifold, as will the number of users and the demand for ADA.


StormGain Analytics Team
(crypto trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on July 15, 2022, 11:20:06 AM
Ethereum: The final test before the merge

Test networks continue to rehearse Ethereum's move to a proof-of-stake algorithm. On 6 July, the merge of two chains was tested in Sepolia, and now it's dress rehearsal time in Goerli. If you don't look at the temporary disabling of a third of the validators who hadn't installed the latest updates, the test was a success.

Ethereum's final transition to PoS is a step closer. Still, the anticipated move date has traditionally been pushed back: The complexity bomb has been delayed for another two months, and the project website has extended the timeline to Q4.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSe5ZaTq4cxTSW5geeNERmgRCpjKmnaQoMobzwGwiBL9QHJCg82yhQY2gPDQBko4oNirKx?format=match&mode=fit&width=640)

Meanwhile, 74,000 users have already staked 13 million ETH for passive income. The amount now equals $14bn or 11% of the network's total capitalisation.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSg9rmP7xtZiHZry2DReHaap5roZeicyykXkcb6Q9ZAyVcEKLXsuPqYgsHVbpmNiFVyg9U?format=match&mode=fit&width=640)

Because stacking coins involves freezing them until the network actually moves, and because you have to stack them in blocks of 32 ETH to generate revenue, third-party services have become very popular. Lido is a leader among them. It significantly lowers the entry threshold for passive income and currently offers a 4% annual return for staking. Moreover, the service provides stETH instead of ETH, which can be used in staking or exchanged for other coins.

Lido's convenience has led to the service currently providing 32% of total frozen ETH. However, it does have a lot of borrowed funds since Lido used a number of investment projects, including the infamous 3AC. The lack of liquidity caused stETH to drop against ETH.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSrFLV2QkRe97Fs5BTyQuBCuezEo4gcWNBApoAdR14VPkx2Zpy9oyFFjcCGaXRg5iVY3Bc?format=match&mode=fit&width=640)

Due to some projects' high interdependence, a further breakaway of stETH, which has a capitalisation of $4.5 billion, from ETH could lead to a chain of liquidations and further pressure on the cryptocurrency market.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSmFWofSNCREnzt6oqJRrnHeFJnhcH3bYLKFi3WcxuXEaJbk3TN4REUShsZciJn4u4hAJS?format=match&mode=fit&width=640)

For example, one stETH to ETH exchanger, Aave, announced in June three potential steps to mitigate risks: Freezing stETH transactions, increasing the liquidation threshold to 90% and suspending loans in ETH. And Curve's large pool of 465,000 stETH has only 172,000 ETH left.

Lido is a big market player, and its problems are hard to ignore. Ethereum's rapid transition to PoS and the subsequent unlocking of ETH 2.0 could save the situation because it could encourage developers to be more proactive.


StormGain Analytical Team
(crypto trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on August 01, 2022, 05:15:21 PM
Ethereum Classic surges 2.5 times in a fortnight on merger news

Ethereum Classic evolved from the Ethereum hardfork and is the parent branch. Because of the upcoming offspring's move to PoS, ETC is rising in value as the migration of miners will take it to a new level of reliability.

(https://steemitimages.com/p/6VvuHGsoU2QBt9MXeXNdDuyd4Bmd63j7zJymDTWgdcJjnzmwAAr3PVjzDXKY4XK328djdnCbdCB241JVfpBE3TSz3igRNNrR1EcS7GMw22KEf7CeZ643LPaJ7SBmaW?format=match&mode=fit&width=640)

Ethereum (ETH) was the first full-fledged blockchain to support smart contracts, leading to rapid growth in the number of crypto projects. In 2016, The DAO crowdfunding platform was launched, making it the largest project in history. It was a decentralised, autonomous organisation that allowed participants to come together to work on different ideas and receive funding from around the world. In just a few months of operation, The DAO has raised $150 million.

On the technical side, the platform had a number of shortcomings. Taking advantage of the vulnerability, an attacker stole more than a third of the funds raised in June 2016. Vitalik Buterin has hardforked and "rolled back" the blockchain to prevent a hacker from using the money.

The majority supported such an action, but some disapproved. Interference with the blockchain violates the key tenet of decentralisation, i.e., "code is law", so a number of developers have remained faithful to the original branch, called Ethereum Classic (ETC) as of 2016.

ETC hasn't been widely used, and many predicted its demise, but with ETH's move to PoS ("The Merge"), it may get a second wind.

(https://steemitimages.com/p/6VvuHGsoU2QBt9MXeXNdDuyd4Bmd63j7zJymDTWgdcJjnzabDLvnvQbHXdHRbgD9Jx3p63yNLwvaAXgbVVwCXhSuriZhae6yyycWDNfjtrDd9K71oW5aNqh36TKvq4?format=match&mode=fit&width=640)

Ethereum's strength is its support for smart contracts and its high degree of decentralisation. The latter is provided by miners scattered around the world. With the move to PoS, the need for miners will become obsolete. For many, this means increased network centralisation and higher risks. The move itself can cause a lot of unforeseen mistakes. For the same reason, developers have pushed back the final merger date year after year, running one test after another.

The next most-profitable coin to mine on the Ethash algorithm is ETC. The migration of miners will add to the network's credibility and attractiveness as a base blockchain for young crypto projects.

(https://steemitimages.com/p/6VvuHGsoU2QBt9MXeXNdDuyd4Bmd63j7zJymDTWgdcJjo1WJ65dH9GPoMzxdTuHJHUQ2K9jLz1akgfuAhXFvVfqLc3HXnaBomhroqS5yWmua81kgipPfCF85vAZ2ce?format=match&mode=fit&width=640)

On 14 July, Ethereum developer Tim Beiko proposed that 19 September be adopted as a tentative date for the merger, with the rest of the conference participants supporting him. In a fortnight, ETC's price has increased 2.5 times, and the network's hash rate has jumped by 22%.


StormGain Analytics Team
(crypto trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on August 02, 2022, 03:04:15 PM
Crypto adoption is growing in Brazil

In Brazil, the Crypto Regulation Bill approved by the Senate Committee on Economic Affairs awaits a fall vote on the Senate floor. However, Brazilians can already purchase digital assets from local financial institutions, as demand for cryptocurrency far exceeds forecasts.

For example, Nubank, a digital bank that has 47 million customers in Brazil, launched Bitcoin and Ethereum trading on its Nucrypto platform in June of this year. The service is operated in partnership with Paxos and had a goal of attracting 1 million users by the end of the year, which it achieved in just one month.

(https://steemitimages.com/p/HNWT6DgoBc14riaEeLCzGYopkqYBKxpGKqfNWfgr368M9WP6GSUyem5pQzhP9o8o2vGnH3fHrimWbcFQ4NDqwJ6osApLDpb3d97xXtAzsAVgzEqtm3oqSdajz5U?format=match&mode=fit&width=640)

Competition in the Brazilian crypto market is getting tougher. In addition to Nucrypto, the Mexican crypto exchange Bitso has also hit the one-million-users mark, and market leader Mercado Bitcoin has 5 million users. Fearing that it will get left behind, Santander, one of the top five banks in Brazil, also announced that it is launching a crypto platform in the coming months.

Crypto adoption is growing in South America by leaps and bounds. El Salvador has made Bitcoin legal tender, and this has played a key role in the shift in sentiment. In a recent interview with Bloomberg, Finance Minister Alejandro Zelaya spoke of the benefits of the move. Bitcoin adoption has been beneficial to El Salvador's unbanked population and also attracted tourism and investment.

(https://steemitimages.com/p/HNWT6DgoBc14riaEeLCzGYopkqYBKxpGKqfNWfgr368M9Wd4sgP5B137myWLZbVdRJLNpWeDd4ELq4kWiVQdAUqA4UCPx5F1dMVCZ21AkY1x8Gzbcd2pvwSYg5U?format=match&mode=fit&width=640)

South Americans are looking to crypto as a way to escape high inflation. In Argentina, for example, inflation has reached 64%. When paid for in Argentine pesos, Bitcoin is more expensive than it was a year ago.

(https://steemitimages.com/p/HNWT6DgoBc14riaEeLCzGYopkqYBKxpGKqfNWfgr368M9UhDvSadny4igym5bf2qwFkzWKk27FNZipn5jYdf6qp7MtaRPBHvXS8etqoc1yusKeJieew7uBx118a?format=match&mode=fit&width=640)

The situation is so dire that the transfer of Giuliano Galoppo from Club Atlético Banfield to São Paulo was made in USDC stablecoins. This is the first time that this has happened in Argentina, but most likely not the last. Because of high inflation, players are being forced to renegotiate contracts constantly.

As a result, Argentina has one of the highest levels of acceptance of cryptocurrency in the world. At the end of 2021, 21% of citizens were using or owned cryptocurrency. In Brazil, inflation currently stands at 12%. If the economic environment worsens, crypto adoption will get an additional boost.


StormGain Analytics Team (https://stormgain.com/)
(crypto trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on August 03, 2022, 11:52:02 AM
StormGain takes home two prestigious industry awards for 2022

Trading awards season is upon us, and StormGain is proud to announce that it has just been awarded not one but two trophies from finance and trading industry publications. These are ‘Best Trading Platform’ from the European CEO Awards 2022, and ‘Best Crypto Platform’ from World Finance Awards 2022.

The European CEO Awards rank the best CEOs and companies in the following categories: trading, finance, business, consultancy and outsourcing, technology, and lifestyle. World Finance is an international business publication that counts many key decision makers among its subscribers. Each year, it holds the World Finance Forex Awards to highlight the market leaders and innovators in the trading world.

“We are overjoyed to receive both of these accolades from respected authorities in the finance industry”, said StormGain CEO Alex Althausen. “We set out to build an easy-to-use, world-class crypto trading platform that would work for everyone, beginner and expert alike, in any market conditions. And I’m happy to say that throughout 2022, we remain committed to providing the best product for our clients, rolling out new features, and improving the user experience to make sure they can make the most from their trades.”

StormGain racks up more awards

StormGain is no stranger to industry honours, having garnered praise from finance publications and professional organisations for the app’s ease of use, consumer-friendly fees, and innovative features. Previous prizes in the StormGain trophy cabinet include:

●    ‘Best Trading Platform’ (2022) from AIBC
●    Ultimate Fintech’s ‘Best Cryptocurrency Broker’ (2021)
●    World Finance’s ‘Best Crypto Broker’ (2021)
●    European CEO’s ‘Best Trading Platform’ (2021)
●    The European’s ‘Cryptocurrency Trading and Exchange Platform of the year’ (2020)

Why choose StormGain?

With over 1 million users around the world, StormGain continues to win fans among retail traders and industry veterans alike. Features that elevate StormGain above the competition include a built-in Bitcoin miner that rewards clients with free BTC just for spending time on the platform, favorable interest rates on crypto holdings, and a profit-sharing model that makes trading fairer for everyone by only applying commissions on profitable trades. StormGain offers 60+ crypto instruments via web platform or mobile app, including Bitcoin (BTC), Ethereum (ETH), and the most promising altcoins as well as tokenised stocks and indices for a diverse portfolio. Not a StormGain user yet? Register in just a few seconds (https://stormgain.com/easy-start) and try the demo account to see what this award-winning crypto platform can do for you!
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on August 04, 2022, 10:35:29 AM
The storm isn't over: More shocks await markets

July ended on a positive note, with Bitcoin recording its best monthly gain since November 2021 and crypto funds showing their best investment inflows since early 2022. But markets remain tense, and some experts predict the strongest shocks in 50 years.

Bitcoin recovered 16.8% in July, making its best gain since November 2021.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSiQM25NC3W2gu1hRcJZWhUvdzd7npqmFvyBfRBDy9UgQarSuvBHB7v8P6cEH3TG421CEz?format=match&mode=fit&width=640)

Cryptocurrency funds experienced an inflow of $474 million.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYShWPzWjq5WPcjAB6YQY1LjyDuKWUYGMMM6mVhxsEAk9rDv2LfjiqdTKqLqM7v1GyX3gcE?format=match&mode=fit&width=640)

In predicting the end of the crypto winter, some analysts refer to the Puell Multiple and the return of the market price above the realised price. The realised price shows the average cost of the last coin move. As many coins remain idle after purchase, the figure differs from the market value. The current realised price of Bitcoin is $21,800.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSfVfFZatyju83GarN4WgdAmHxZnwesKQjWRXVBSV1Fhv4Seqc1Zqcx5jaLXk2ttFmUtri?format=match&mode=fit&width=640)

The return of the market price to above the realised price is the result of the end of a bearish market. The investor trap lies in Bitcoin taking an average of 197 days to form a bottom. Too little time has passed for the current break in the realised price to be called a bullish signal.

Network metrics also confirm this. In particular, demand for Bitcoin transactions remains low, and the number of active addresses continues to decline. The trend is typical for a bear market.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSrEBZstCM7F94FRkse7JQFjFCXfLssZqYBu9bqz68dtZ1HdPhMpAaKT6wDtbZKN2tcX3t?format=match&mode=fit&width=640)

The tense macroeconomic environment is the main reason for the lack of positivity. We have previously covered why the US Federal Reserve has significant influence over financial markets, including the cryptocurrency market.

The regulator's actions were criticised the other day by John Cochrane, professor of economics at Stanford University. In his view, the Fed should raise rates to 10%-12% to curb inflation. The rate currently stands at 2.5%. According to Cochrane, tax, fiscal and monetary policies have lost touch with reality, and the Fed hopes inflation will stop on its own.

The same assessment was made by Jim Rogers, who co-founded the Quantum Fund with George Soros. According to the veteran investor, the "worst bear market in [his] memory" is coming. US public debt is growing at a stunning rate, and the dollar's role as the world's reserve currency is weakening because of aggressive international policies. Many stocks and financial assets will drop by 70%-90%.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSgpjpbwuP4iSdKYkFaWp37BRqagiJd7UwTMwHVwgMrtrHcipNnFHafaqWYhxcx5mGs5YJ?format=match&mode=fit&width=640)

If the Fed decides to stop price rises, it'll have to raise interest rates significantly. Inflation in the US is now at 9.1%, and the Personal Consumption Expenditure Price Index has already reached 1983 levels. If decisive actions are taken, Bitcoin will continue to consolidate at around $20,000.


StormGain Analytics Team (https://stormgain.com/)
(crypto trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on August 05, 2022, 05:25:41 PM
Solana collapses on hacking news

Over 8,000 wallets are compromised, with cumulative losses exceeding $8 million. Users are advised to transfer funds to a cold wallet and not to click on suspicious links. SOL has dropped 7% in 10 hours, and the attack continues.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSjhA5kwJEDfEPcmGMS1B1ny9Jz4UVLpwGwjGnTXqknkiZy1rwx931cYLcYtWBnzi96Nu4?format=match&mode=fit&width=640)

At this point, it's unclear exactly how the attacker did it. Users on social media report that the Phantom and Slope hot wallets are especially at risk. A hacker was able to sign transactions on behalf of the owners, possibly resulting from an attack on the supply chain of a trusted third-party service.

The Phantom team says that the problem is unlikely to be related to the security of their wallet.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSgCJHotFyiiSyRyZqfUPJK7CfBWVE5TPdWqHW6edSeEcR8MYqkAn4V5SvLpCuHiHoTci2?format=match&mode=fit&width=640)

A user nicknamed Paladin points out that the problem is either related to Phantom or the popular NFT marketplace Magic Eden, which is also on Solana. The attacker withdrew $6 million in the first 10 minutes, with the largest loss from one address reaching $500k in USDC.

Another user nicknamed ZachXBT said the attack was planned, as the associated wallet remained idle for 7 months after initial funding.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYStLmr3BzFHV3yHnSYGja5JzakLerS6KYyt7yjdq5ExEmBTbvvj1B2rrzYfqzcYuTYNeKg?format=match&mode=fit&width=640)

As there has been no official response so far, one can only speculate as to how the breach occurred. The overall situation for the Ethereum Killer is negative, especially with the discovery of a vulnerability in the popular Phantom wallet.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYStyqG4JPf3fvAujDuzP9fr8WtPBQ9uRwbpSikzC9m9vz8wLHZryroR2eCE1MW88CF447g?format=match&mode=fit&width=640)

Some analytical agencies consider Solana to be the most decentralised of its peers, but following frequent failures and the recent hacks the network could drop out of the top 10.


StormGain Analytics Team (https://stormgain.com/)
(crypto trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on August 10, 2022, 02:41:24 PM
BTC hits $24K, altcoins recover amidst recession uncertainty

Bitcoin (BTC) held its ground over the weekend, staying above $23K and even hitting $24K Monday morning, while many major altcoins also enjoyed modest price increases across the board. On Friday, the original cryptocurrency fell below $30K following surprisingly positive news from the US Department of Labour, which reported unexpectedly strong employment growth, with 528,000 new jobs added to their statistics. Many who believed that the world's largest economy was on the brink of a long-term recession or asset crash may have to hold their breath and wait for further indicators, such as the next CPI figures or confirmation about further interest rate hikes.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSsdSkqtvQAZRU3gkSXxVNTSdbF8h33aEwdsRf4ZbyYA6ANmwLF3aHkMTiTfbuyuFq1nwQ?format=match&mode=fit&width=640)

Meanwhile, Bitcoin and other digital assets have rallied amidst these positive economic indicators. This performance correlates with a broader trend in the global stock market, further demonstrating that cryptocurrency is no longer an outsider but part of the mainstream equities market economy.

BTC's monthly relative strength index (RSI) indicates a balance between buyers and sellers, with a potential bullish breakout above $24,600. Ethereum (ETH), the second-largest cryptocurrency by market cap, is trading at around $1,770, having gained about $100 over the weekend. Analysts have noted that ETH appears to be following a classic bullish reversal pattern, with a potential 10% rally predicted for August. Other major altcoins also enjoyed a boost in price, including Theta (THETA) and Avalanche (AVAX), up around 7% and 6%, respectively.

Market performance over the week will likely be affected by further global economic indicators as news starts to roll in. Keep an eye out for new figures related to inflation, interest rates, equities and crypto market activity.


StormGain Analytics Team
(crypto trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on August 11, 2022, 12:15:23 PM
Solana is recovering after a vulnerability was found in a third-party service

For Solana users, the last 24 hours have been full of anxiety, as social media was flooded with posts about blockchain-based wallets being hacked and no official comments being given. Phantom and Slope wallet users most frequently reported losing money, which was initially perceived as a problem with the network. Later on, it turned out that no one among those who had lost funds had generated a seed phrase using Phantom.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSizLxcogsDh6UR4irzncAjfqCjmyHDWJTCfSoeLfbMvHuRUPohUu433TCvWu9wiyQdw3C?format=match&mode=fit&width=640)

Solana's investigation found that the exploit compromised private keys generated by Slope. A Slope spokesman first told reporters that the service didn't store any personal data on a centralised service but later admitted the statement was incorrect.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSfLkUa4fCYP5z9pjAPm5ZzAqjesjcbqPLTmmLUfV2febSo6EKqz1xYu4bu1UtHbvbz7gJ?format=match&mode=fit&width=640)

According to Phantom's developers, the exploit is probably due to a lack of security in the Slope account import/export service, so a number of users have accused Slope of storing keys on a centralised service in plain text.

The audit company Zellic conducted its own investigation and got to the bottom of the leak, concluding that the Slope team hadn't properly configured the Sentry service, making the keys available to intruders.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYShZnMba7QwFTnFSo7Gn8GVaxPJbvcmgMiJSZgCn8LwjrcZwM8rSwWQrHPRcqyqhCSkxxE?format=match&mode=fit&width=640)

After getting to the bottom of the circumstances surrounding the data leak, Slope's developers suggested that customers create a new wallet to transfer funds by generating a different unique phrase. Moreover, the Phantom team advised users to urgently transfer funds to a wallet not affiliated with Slope.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSj1V74qbbgZkFsg2dsCvfYgNacwvQnXi9XZrpbs6VbV7YLVmoPCDbomcUZZT1TFZgfTgA?format=match&mode=fit&width=640)

Slope-affiliated accounts that haven't updated their keys are still at risk of attack, with the number of affected individuals rising to 9,000. However, it's a small share of the total number of Solana-based wallets, which numbers 25 million. SOL recovered from yesterday's shocks as the risk of blockchain problems retreated.


StormGain Analytics Team (https://stormgain.com/)
(crypto trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on August 12, 2022, 12:38:40 PM
Market anxiety sees crypto and equities slump ahead of CPI figures

Uncertainty sent risky assets tumbling Wednesday morning as investors held off on trading, waiting on the news of the US consumer price index (CPI), which came later that day.

Bitcoin's (BTC) recent rally past $24K has subsided, with the original cryptocurrency trading just above $23K on Wednesday, down more than 3% in the 24 hours prior.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSr4pR4464D873H2jvSqD45pbRg2i7vHzjcsxvdXnNyf3g2L5VRJ91YoHRD7RoexV57rjG?format=match&mode=fit&width=640)

Bitcoin's market cap share has hit a new six-month low, giving ground to the second-largest cryptocurrency by market cap, Ethereum (ETH), which had enjoyed a two-month high price point on Monday. However, Ethereum's price also plunged mid-week, dropping below $1,700, down almost 4% from Tuesday.

Altcoins across the board followed the trend of the two biggest cryptos, with a general market slump across digital assets from Tuesday to Wednesday. Stellar (XLM) was down almost 7%, and Solana (SOL) dropped around 6%. Filecoin (FIL) tumbled by over 11%.

The crypto market pullback could be seen as a lower support test after last week's support-resistance flip. In the long-term view, the top cryptocurrencies are still trading comfortably within their multi-week ranges.

Digital assets generally followed equity markets, although key tech-focused indices such as the Nasdaq and the S&P 500 dropped by only modest amounts. Investors appear to be adopting a risk-averse strategy, as shown by gold, the customary safe-haven asset, which has risen consistently since the beginning of the week.

US CPI for July 2022 came in at 8.5%. This was lower than June's 9.1% and shows that inflation is slowing. But will it be enough to prevent further interest rate hikes from the Fed? Earlier this week, Tesla CEO Elon Musk posited that the US had hit peak inflation, and any recession would be "mild to moderate". We will keep watching.


StormGain Analytics Team
(crypto trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on August 15, 2022, 01:31:28 PM
Ethereum climbing ahead of Merge, altcoins stand to benefit

Ethereum (ETH) continues to climb as we reach the end of the week, surging toward the $1,900 mark for the first time in two months. At the time of writing, the second-largest cryptocurrency by market cap was trading at about $1,895. The top altcoin’s price has climbed over 85% since dropping below $1,000 in mid-June. Analysts have pointed to ETH/USD’s 50-week exponential moving average of $2,340 to predict a breakout at around $2,500.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSsbryUFpDCwv3PP6KfEstP6ggg7229BExXcJxk4zQNw7KLi7oRJLFx6FsUAF2KJP3MAXQ?format=match&mode=fit&width=640)

One factor contributing to the bullish sentiment behind Ether is likely the news that the much-anticipated Merge will take place earlier than previously scheduled.

Several core developers agreed on a Thursday call on a tentative early date for the Merge: Thursday the 15th of September, 2022. This eagerly awaited event should see the Ethereum blockchain transition from a proof-of-work (PoW) consensus model to proof-of-stake (PoS). This should make the Ethereum network more scalable, energy efficient, and environmentally friendly.

Volatility should be expected for Ethereum before, during, and after the Merge date. A likely fork is something to watch out for, with die-hard PoW proponents splitting off the current version of ETH (known as ETHW) and network users being compensated with free tokens.

Ethereum isn’t the only altcoin that could get a value boost from the Merge. Crypto projects that facilitate ETH staking, could also stand to benefit. Lido DAO (LDO) is one such platform, with its token soaring by over 200% over the last month following Ethereum’s PoS announcement. Ethereum Classic (ETC) has had a similar trajectory since the Merge news, possibly because investors expect demand from miners who do not wish to use PoS.


StormGain Analytics Team
(crypto trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on August 17, 2022, 10:01:07 AM
Ethereum overtakes Bitcoin in 2022 due to the September 'Merge'

The cryptocurrency community is preparing for a grandiose event: the departure of the leading altcoin from miners in favour of validators. After developers approved September as the closest date for the move, Ethereum jumped 65% in 30 days and surpassed Bitcoin in terms of growth in 2022.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSuiQFAiCxkXLHCVSXUuZbJNscu8JaxeN4krXS1jz5sMMjL7NgaFrDsUiendCBGkoP6n9U?format=match&mode=fit&width=640)

In the derivatives market, open interest in Ethereum has overtaken Bitcoin for the first time in history, and derivatives traders are betting on the altcoin rising to at least $2,200.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSkN35BwGEqAznVTWWTmKAoF4B1M3uNeRLUfSZcGiNRd4v6j1ys3TqZZPCezMd56FncXNe?format=match&mode=fit&width=640)

The transition from the PoW (Proof-of-Work) algorithm to a PoS (Proof-of-Ownership) algorithm is called 'The Merge' because all key network parameters will be moved to the test chain that is being developed in parallel.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSmFLwLsUgui4msphYKUETJAxVpo5i6CbxW2BS1GseVczv6U6sbRgRCBtjkfvDa5n4xS7Y?format=match&mode=fit&width=640)

To stimulate the merge, a difficulty bomb will be activated in the PoW chain, causing it to die off naturally. The difficulty bomb exponentially increases the complexity of mining, making it increasingly less profitable.

Miners will have to migrate to other networks to generate earnings, such as Ethereum Classic. However, not everyone agrees with such a role. For example, Chandler Guo, a major Chinese miner, suggested they could clone Ethereum by creating the ETHPOW token. Some crypto exchanges have already supported this idea by issuing relevant futures. These include Poloniex, MEXC and BitMEX, while Binance has said that it may support the fork.

ETHPOW only has a chance if it is picked up by a sizeable share of miners. Many people doubt the expediency of further forking chains since there is already a parent chain on PoW, Ethereum Classic. In addition, the leading stablecoin operators, Tether and Circle, have officially announced that they'll only support the PoS chain.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSfStd8SX8mZ9p9C51xy1331ki1Bx9P7gFAkzE6HpDVHvEedxYwpwzVJPj1Zx2Ex59ejeN?format=match&mode=fit&width=640)

Despite the imminent suspension of mining, miners are in no hurry to leave Ethereum. Thanks to the latest price increase, mining yields rose from $0.014 per MH/s in July to $0.028 per MH/s in mid-August. For example, Bitmain's latest E9 generates about $65 per day in revenue and reaches self-sufficiency in 6-8 months.

Developers have designated 19 September as the soft deadline for the transition to PoS. If all goes well, Ethereum will continue to strengthen against Bitcoin.


StormGain Analytics Team (https://stormgain.com/)
(crypto trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on August 18, 2022, 02:41:29 PM
Bitcoin: Investors are rushing to lock in profits

The cryptocurrency market is seeing a slight recovery, with Bitcoin climbing to $25,000 by the end of July after a month of consolidation around the $20,000 level. Short-term holders (STH) who managed to buy the coin at a low price increased their total supply to 330,000  BTC.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSjk48dwEcy5VJbEtLws8Sg3DYTZXhEZhaLuNhY3CMDy2mnJLS8rXiyWXe3Vgs7aVZPeJi?format=match&mode=fit&width=640)

As per the chart, supply extremes in this group often correspond to price highs or lows, confirming the psychological significance of the $20,000-$25,000 level.

But STHs weren't the only ones to take advantage of the slight rise in price to lock in profits. Cryptocurrency funds showed small outflows, with Bitcoin leading the way with a one-week loss of $21 million. Some institutional investors aren't waiting around to play the long game.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSmFCcJLegooZVuZLkVVjCLFNiTnn1NKJQFER61n25AsV9ZJPC2d7xnwcaA9CXvNRTaCBG?format=match&mode=fit&width=640)

And their fears are well-founded as the macroeconomic environment remains tense. Meanwhile, in its latest growth phase, Bitcoin broke its correlation with stock markets by performing weakly.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYShgHGnoWUUcmtWAd9iPHgRe88549sceew46YKcqbZ2DYdg6DPAjqd4ZrRJ3HmGbbEtvgN?format=match&mode=fit&width=640)

The reason lies in the ongoing investment crisis in the cryptocurrency market. Investors pumped up the CEL token in August, expecting that Celsius, the largest crypto fund, would be able to emerge from the crisis. They quadrupled its price in a fortnight.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYShXzQ77BRvSuueR4o9ixR58xhfsctzj52rZ9jkgFVQcyMH8vLmG6hatXhL76dLX6c1kqk?format=match&mode=fit&width=640)

However, the updated bankruptcy report shows that instead of a $1.2 billion deficit, the hole in the company's balance sheet is $3 billion. This makes it less likely that investors, including various crypto projects, will get their money back. Mutual debts will lead to a series of bankruptcies, and new coins will be dumped onto the market with the expectation of paying off some of the liabilities.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSrpW99dUcPpPy5hRvtJcjVnZfjhgVPFSXu4xW8out8t7uGzoxSaLKhjTpJXBW8a4ae4ea?format=match&mode=fit&width=640)

This fact gives some analysts reason to predict a new wave of Bitcoin declines. On 14 August, gold evangelist Peter Schiff predicted a move below $10,000. However, in 2019, he also predicted that Bitcoin would never reach $50,000.

Now, a lot depends on what regulators do. China has already backtracked, as higher interest rates have led to an economic slowdown. Some experts predict the Fed will follow this path by the end of 2022. Loosening its grip will lead to a return of demand for high-risk assets and the rise of Bitcoin.


StormGain Analytics Team (https://stormgain.com/)
(crypto trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on August 22, 2022, 03:14:18 PM
Ethereum Foundation: Switching to PoS won't reduce fees

Given various misconceptions circulating, Ethereum developers have issued a clarification on its upcoming 'Merge'. A soft deadline has been set for 19 September, with most of the improvements coming in future updates.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSu51FQeGYDpSwHnf9dQpJWLACg8LC1swLWBawfcYdKZAtapE8bT5ufgaHAf2bJrDR5PgS?format=match&mode=fit&width=640)

Power consumption

Miners are currently responsible for decentralisation and collecting transactions into blocks. Due to their growing number and the evolution of equipment, there's a continuous increase in mining difficulty, leading to ever more energy-consuming PoW-based networks. Last year, Elon Musk suspended the sale of Tesla for Bitcoin, claiming it wasn't environmentally friendly.

While a miner's success in calculating a hash function is directly related to their equipment's capacity, a validator's reward is related to the amount staked. With Ethereum moving to PoS, the developers claim that the network's power consumption will be reduced by 99.95%. This parameter will change right after the merger, but the other features will have to wait.

Fees

The main sore point for users is fees at times of peak network loads. Since the average speed is 13 transactions per second (TPS), users are forced to increase the tip amount to miners so that their transfer can be processed as quickly as possible. At times, it costs over $50 for a transaction to be processed.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSugcsrPnHqTmywBG61EoDFGwABJ5qdbfxaykPEWT2bsoUhoovdLxCZEXc5BpGDLCvkUNr?format=match&mode=fit&width=640)

The Merge won't affect fees, as the network speed will be 12 TPS, which is only a bit better than the previous figure. Fees will be greatly impacted by future updates and the introduction of sharding, which is a method of dividing the network into autonomous segments (shards) that will process transactions independently. Sharding is expected to be implemented within a year of switching to PoS, with transaction speeds exceeding 50,000 TPS.

Unlocking ETH

For passive income and participation in staking, validators lock in ETH, which can be extracted much later in the Merge. As of now, the total amount locked in is 13.3 million ETH (~$24.7 billion), which is over 10% of the network's capitalisation.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSeeHV2sJiFCwCYLfVG5bD5AzpG9pgnxsR9Cjw1J7FfNrDzzNqeoNcjHDiZRcpwBa1jnnr?format=match&mode=fit&width=640)

These funds will be unlocked after the Shanghai update, which is expected to occur 6 to 12 months after the Merge. But even with the advent of the security update, the speed at which validators can withdraw locked ETH will be limited. Tips will be available right away.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSkPdiuHzenh9F3pSi1hC1bCp8Wqjuc3X6QGWEaWapp1sizoFkUw8oKTQ6LnttTjbPuZfC?format=match&mode=fit&width=640)

For the crypto community, the leading altcoin's change of consensus algorithm is a historic event. If it's successful, some experts predict Ethereum will overcome Bitcoin in the overall rankings in the long term. The ETH/BTC pair rose by 44% after 19 September was set as the final date.


StormGain Analytics Team (https://stormgain.com/)
(cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on August 23, 2022, 02:14:42 PM
Another shake-up in the stablecoin market

The stable coin market continues to experience fever due to the failure of some projects. Last week aUSD was compromised, and this week HUSD, the cryptocurrency exchange token Huobi, lost its link to the US dollar. Amid a tough macroeconomic environment, falling cryptocurrency market capitalisation and the bankruptcy of a few cryptocurrency funds, users are trying to identify the most wealthy stablecoin to save money.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSheVg7qAoCKnSChdqwYEuVsL2DXkxMA8VhQrLE7jkH1hVpHhBqnjP5v3GN91h79vNp1Rp?format=match&mode=fit&width=640)

aUSD, the Acala Network's stablecoin, is used in the decentralised finance sector (DeFi) interconnect applications and is based on the Polkadot blockchain. aUSD is a decentralised algorithmic stablecoin with redundant collateral. In other words, to get 1 aUSD, the user must lock $1.5 in another cryptocurrency. If the frozen coins fall in value, a forced reverse conversion takes place. This maintains the necessary reserve to ensure that the stablecoin is tied to the US dollar.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSrDYE2KBsKJJLVBFPuDuFCqFLZV6NigvChkwN51rRtbBYJeBZoZheEjkVnw7NLCxWGMHp?format=match&mode=fit&width=640)

On 14 August, the hacker managed to mint $1.2 billion without using reserves. The Acala team quickly discovered the problem and put the network into maintenance mode. This allowed the attacker's addresses to be identified and the stolen funds to be frozen, but also temporarily halted all online transactions. But users were left confused, as the speed of response doesn't correlate well with the notion of decentralisation and the team's claims of "resistance to censorship".

As a result of the attack and the declining credibility of the project, the amount of blocked funds in Acala halved to 191 aUSD in a few days and continues to decline. The stablecoin's value hasn't recovered yet.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSe2Vn4zAvof26GXQ1WpyqhzQwqzmuiJVbpzF4G7LpCLqjLGFuF7jBH6sRCYGpxzBJxZdQ?format=match&mode=fit&width=640)

HUSD, the Huobi cryptocurrency exchange stablecoin, lost its link to USD on 17 August. Before the 2021 ban on cryptocurrency transactions, Huobi was the largest operator in China. The company has since suffered a series of setbacks, revenues have declined significantly and FTX has even delisted HUSD.

Unlike aUSD, the HUSD stablecoin relies on a reserve in fiat currency. For example, in 2021, Stable Universal issuer reported that each token was backed by $1 in a bank account. However, according to Coingecko, there are currently 81.4 million coins in circulation with a capitalisation of $79.1 million. And with the HUSD price falling to 85 cents on 18 August, Huobi admitted it had a liquidity problem and began looking for a solution.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSeiyvnTp6jNjPBtdoM4NwgQJL8x3BQSYddBJB3z9JhiS64sUnXXbWu1e9NXRdkmN8P8gN?format=match&mode=fit&width=640)

Amid ongoing problems with stablecoin, the reserves of Tether, the market leader, were once again questioned. As 1/5 are undisclosed commercial liabilities, the USDT coin lost 22% of its capitalisation after the UST (LUNA) collapse.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSj1zNTtySYyizaogugEEyVWVSbMtNoZu5psv1R88bteWks6dfK8wxPr8qDAXx9cwrjkra?format=match&mode=fit&width=640)

Tether recently announced that instead of Moore Cayman, based in the Cayman Islands, BDO Italia, Europe's largest accounting firm, will soon be certifying reserves. Reporting will be provided on a monthly basis and the share of commercial liabilities in reserves will be reduced to 1/10th.

Increased transparency of the major stablecoin will add to users' confidence in the company's trustworthiness in these challenging times. In two weeks, Tether's capitalisation grew by 2.7%.


StormGain analytics team (https://stormgain.com/)
(a platform to trade, exchange and store cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on August 26, 2022, 12:35:43 PM
A hit on decentralisation: USDC loses ground

Financial regulators are increasing pressure on decentralisation, a key advantage of the cryptocurrency market. In August, the US Department of Treasury sanctioned Tornado Cash, which set a striking precedent in a move that market participants considered to be unconstitutional. Meanwhile, some crypto projects, including Circle (USDC), have shown their loyalty to the US Treasury.

Decentralisation is independence from various authorities and financial institutions. Bitcoin can't be banned because no single centre can be sanctioned, and the transactions and user funds are only an entry in a shared distributed registry.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSjjHA5x4yg1Zn8364rAynZ1YNSybEeoUqACJjW4qPThEC6ivszoJzRsvnSZmm4dEmrkQW?format=match&mode=fit&width=640)

Bitcoin and Ethereum are public blockchains with an open history and record of the entire path of the minted coin. Because publicity conflicts with the right to privacy and confidentiality, some users prefer anonymous coins or use mixers.

Tornado Cash is a mixer that breaks the connection between the sender and receiver in the Ethereum network. It's a decentralised, open-source protocol built on smart contracts. Simply put, the tool is autonomous from the creator and any organisation. Any user can employ the mixer to break the connection between the sender and receiver.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYShf8KyuorRxiVhzRva92z1isyN3wGhgC1rj5tbTfMF37DYFAzszGGeFDfKFiMMD4e3f7t?format=match&mode=fit&width=640)

The desire to hide the transfer history doesn't mean that the funds are being used for criminal purposes. However, this argument proved insufficient. In early August, the US Treasury Department's Office of Foreign Assets Control (OFAC) division included the software code in the list of blocked persons for the first time ever. As a result, all companies subject to US jurisdiction began blocking users and accounts where at least one transfer was received using Tornado Cash (TC).

The Coin Center advocacy group is preparing a lawsuit against OFAC because the regulator "exceeded its authority" and "violated the constitutional rights of US citizens". Congressman Tom Emmer joined OFAC's criticism by writing directly to Treasury Secretary Janet Yellen. Emmer raises the following questions:

- How does the regulator see the implementation of contract control?
- What is the status of citizen-owned funds after the mixer?
- How can law-abiding citizens get their frozen funds back?
- How can impersonal smart contracts appeal an OFAC decision?

Following TC's inclusion on the sanctions list, organisations loyal to the Treasury Department began blocking users who received the involved transfers. Since a transfer can't be declined, any participant could be compromised. Justin Sun (head of TRON) was blocked on the DeFi sector's Aave platform after receiving 0.1ETH from an unknown person.

Circle (issuer of USDC) also took up the challenge, freezing 75,000 USDC in TC-related transfers. Circle could freeze the transfer of stablecoins to and from TC at the Ethereum smart contract level.

As a result, users and whales began to give up on USDC. Over the past two weeks, deposit volume on the exchanges has reached a low of March 2021, and the whales (top 1% of addresses) have dropped to a low of August 2020. The stablecoin's capitalisation fell by 3.5% to $52.3 billion over the period.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSg8FtTM2K3gLW9QxNMqGsqyYwUyoXN66aFaWABk42dBsAPCk8WGJ9KSsi2yszxAMU8926?format=match&mode=fit&width=640)

For the cryptocurrency community, blocking TC is an extremely unpleasant precedent because users are penalised not for the offence but for using a privacy tool. If US citizens use TC after the mixer's sanctioning, the penalty can result in a fine of up to $300,000 or up to 30 years of imprisonment.


StormGain analytics team (https://stormgain.com/)
(cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on August 30, 2022, 10:46:54 AM
Fasten your seatbelts: whales pour ETH into crypto exchanges ahead of merge

September will be an exciting month for the crypto industry: the experiment to migrate the leading altcoin to PoS is nearing a climax. The developers have confirmed that the merge migration will happen between 10 and 20 September, once the network's target difficulty threshold (TTD) has been reached.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSgwN12VXUppm42vyWSF4QR6soTL2Khs8GSfDGQnjf4ye4afT8QLtkxdRn6J6mjQCqSwhx?format=match&mode=fit&width=640)

This solution has benefits and drawbacks. The benefits include a significantly reduced environmental impact, as this will end mining and reduce the power consumption of the network by 99.95%. In 2021, the high environmental impact of cryptocurrencies was on the agenda, with Elon Musk using this as an argument for not accepting Bitcoin as payment for Tesla.

The main drawback, however, is what the cryptocurrency community calls the risk of censorship of the network and the loss of decentralisation. The problem echoes the recent of blacklisting wallet addresses associated with crypto-mixing service Tornado Cash by USDC issuer Circle. Following allegations by Tether, Circle took retaliatory action before receiving orders from the financial regulator. Why Tether doesn't look much better in this situation than in our previous article (https://stormgain.com/blog/stablecoin-market-is-under-usa-control).

Ethereum users on PoS must invest in blocks of 32 ETH to run their node and participate in the stacking process. For many crypto-enthusiasts, freezing $53k at current prices is untenable.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSukAoxeUj1JutAUbALC2UTHVDnE2v1F2ZfVpmNyYGE1Y3b26UNGjHySkRwrXoypw9P5LS?format=match&mode=fit&width=640)

The solution is to use third-party aggregators, which aggregate blocks from small amounts and share the returns from staking with investors. The second largest player in ETH 2.0 is Coinbase, with a 15% stake and 2 million ETH locked up. It is a US-based cryptocurrency exchange that strictly complies with US law. If the Ministry of Finance issues an order to censor addresses or block users, there is a high probability that the crypto-exchange will comply with the order.

The increase in centralisation will be impacted not only by the growing importance of the big players, but also by the easier way to enter the blockchain market. While setting up a large-scale mining centre is limited by the availability of computing equipment and the high power requirements, PoS is all about investment volumes.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYShey3kbpegVn3KJXaYJr3WJyi6jo3e3PSqB7MkaktVVY3rRpkvLV2wRJ3CHfAB8ZhAaEi?format=match&mode=fit&width=640)

The situation around Tornado Cash has only exacerbated fears surrounding Ethereum's migration to PoS. For this reason, many analysts predict that ETH will drop in price following the merge. This prediction is supported by the actions of whales: the top 10 non-exchange addresses dropped a combined 2.9 million ETH at the same time as inflows to cryptocurrency exchanges exceeded 3.9 million ETH. Whales are gearing up for increased speculative interest in order to sell coins without collapsing the price with their actions.

It is fair to say that while PoS does increase the risks of centralisation, PoW is still associated with censorship concerns. For example, Ethermine – a leading Ethereum mining pool with a 25% stake – has already enabled filtering associated with Tornado Cash transactions.


StormGain analytics team (https://stormgain.com/)
(a platform to trade, exchange and store cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on August 31, 2022, 12:20:14 PM
Fed strikes markets: US stocks lose $1.3 trillion as crypto drops $0.1 trillion

After US inflation fell from 9.1% in June to 8.5% in July, many investors became hopeful that the regulator would soften its stance and hold off on another rate hike until the end of the year. However, Fed chair Jerome Powell and his colleagues have preserved their hawkish sentiment, naming the fight against rising prices their number one priority.

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Interest rates are one of central banks' key monetary policy tools. Simply put, as interest rates rise, credit becomes more expensive for businesses and ordinary people, which leads to an economic slowdown. Then, as the economy cools down, inflation slows.

The flip side of this economic slowdown is rising unemployment and social tensions. This requires regulators to ensure that their monetary policy decisions are balanced. Unemployment was a leading theme in Powell's speeches last year, while inflation was deemed "transitory".

On 26 August, at the Jackson Hole Economic Symposium, Powell gave a clear sign that bringing inflation under control was now of primary importance. He is prepared to allow a certain degree of unemployment and financial turmoil since "a failure to restore price stability would mean far greater pain". In other words, the Fed will continue to raise rates until it begins to see results.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYScgSZmS54Up991mtoUgYgzn1vdHPv3Y5P4ik6yJqVuRbQNFiNdNp7BEoCHNYVLzvDMVpJ?format=match&mode=fit&width=640)

These hawkish comments from Powell – a man who is typically known for his soft policy and penchant for ambiguity – led to a slight panic in markets. As a result, the US stock market had $1.25 trillion wiped in a single session, with crypto losing $0.1 trillion over the course of the same day. Bitcoin has been in a downtrend since Friday and has fallen 8%.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYScaJkPaKojLW6VBijV8nL5yKKxgC8acHfQiA8WKoTFeacTHiCH4kvFknNNGmfDLUCiWCW?format=match&mode=fit&width=640)

July's inflation numbers will be released on 13 September, while 21 September marks the date of the Fed's next rates meeting. There is currently a 71% probability consensus for a 0.75% increase. This is quite a significant move, especially given that in more prosperous times, the regulator would take more gradual steps of 0.25%.

Rate hikes this year have already led to a sell-off in a wide range of risk assets, with the US Dollar Index close to a 20-year high. Should this forecast prove correct, we are likely to see Bitcoin cement below $20,000.


StormGain Analytics Team
(cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on September 02, 2022, 11:07:02 AM
Institutional investors exit Bitcoin and invest in Ethereum

Institutional investors (predominantly companies with investments of $1 million or more) are opting to invest in exchange-traded instruments, buying ETF units or shares in investment trusts. Rigorous reporting makes overall sentiment easy to track.

Since March, for example, total assets under management (AUM) have halved to $25.8 billion.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSkXtcnpH7voZnosFveNkbzxPRAgVxW1jRsk8jhkMCsPo3KHWZyMgCJZ3jinQyWgLbcnV4?format=match&mode=fit&width=640)

Meanwhile, institutional investors have recently been pulling out of Bitcoin and increasing their positions in Ethereum. In August, the average weekly outflow from Bitcoin was $14.9 million, while Ethereum saw an inflow of $6.4 million.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYShey3cWfXbXrFZPhEotdZqdiQcz217royTzgF5L2gK9JzK4cZWJCxNSy7LPNScsCtewTL?format=match&mode=fit&width=640)

To safeguard investments against macroeconomic headwinds, institutional investors are investing in Ethereum and shorting Bitcoin ETF. The latter position earns on falling Bitcoin prices. In this way, investors are offsetting the impact of the US dollar on the crypto market by buying ETH over BTC. Over the past two weeks, investments in the short Bitcoin ETF from ProShares have increased by 70%, reaching a record high of 4,310 BTC.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSiMcScvSN2FxM18rYXxm5TBijQKzhhoUQUd8ujjLfShsDVX1edLPpYD7W599sSjk5HhhQ?format=match&mode=fit&width=640)

Things are much simpler in the perpetual futures market, as traders deal directly with the ETH/BTC pair. In the past two months, it has risen by 40%.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSe1fU1QiCSvFSMRMzEEGdSFeGYq9bvQCwNHpYEqQbqSck1LPwcCdkN5Nir5kz8RXJG14J?format=match&mode=fit&width=640)

The increased interest in Ethereum is due to the platform's upcoming transition to the Proof-of-Stake algorithm, which will take place in mid-September. The cryptocurrency community is divided into two camps. Some are predicting a bright future for Ethereum and that it will rise to the top spot in the overall capitalisation ranking. Others are warning of risks of increasing centralisation and a significant loss of market share for the leading altcoin.

Clearly, September will be a volatile month, with institutional investors ramping up purchases and whales gearing up for a provocation. The top 10 players sold a total of 2.9 million ETH, while cryptocurrencies saw an inflow of 3.9 million ETH.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSrB65ivBhycmwy6yvZVV4ePboLA6svzpL4BDSe9yYDm5GCU7s47DZQaNRWoMMWTu3akxW?format=match&mode=fit&width=640)

Apparently, the whales plan to take advantage of the investment frenzy to sell some of their holdings without causing panic in the market.


StormGain analytics team (https://stormgain.com/)
(cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on September 05, 2022, 12:59:21 PM
Bitcoin investors suffer their worst losses since 2018

The pressure on the cryptocurrency market persists, coins are increasingly less likely to stay in wallets, and the rate of new users is close to multi-year lows. In the past 10 years, investors suffered their most substantial losses in 2018.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSj2K7v8g1pgvHDKYNMdfRHJaiwgWf32RZiX6noxh6Bz4SANZsfYwTcV66b75w2n5hYeCW?format=match&mode=fit&width=640)

Following speculators and 'tourists', medium-term Bitcoin holders (i.e., with a 5-month or longer coin history), who prefer to sell when the market rises, have been heading for the exits. As a result, cumulative investor losses in recent weeks have reached 0.28% of market capitalisation per day. This figure was only worse in 2018 when it approached 0.35%.

Due to the shaken faith among some of the 'Bitcoin will rapidly recovery' crypto enthusiasts, coins are increasingly changing hands. The situation is typical for a deep bearish market, where investors try to enter at the lowest price but offload coins as soon as the price rises slightly or returns to the level they were bought at.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSfQ8uiiJBCiygrFgWPBiM37F79pA6os85f6Z6YH81zb5ewotqQnkAR5VJWc8PHRRgNsRx?format=match&mode=fit&width=640)

The increased volume of leveraged trades creates the risk of greater volatility, as demonstrated by the historically high open interest rate ratio. In the open-ended futures market, traders are increasingly opting for leveraged trades. In the event of a sudden price decline, this will lead to a short squeeze (forced closing of positions by the exchanges) and add fuel to the fire. For Bitcoin, the rate is 0.02, and for Ethereum, it's 0.03. Because of the upcoming merger, speculative interest in Ethereum is much higher.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYShfRyABPVCmRVQCvd5F5JfDvsq73R1Tu24QkLGnjsLpDPHCqf3tpvGBfuCmX9puuUfxcW?format=match&mode=fit&width=640)

A curious warning of a further price drop came from two transactions, each for 5,000 BTC that remained untouched since 2013. An unknown whale sent coins to a large number of addresses not linked to crypto exchanges. The statistics record only six such episodes, and each time, these large transactions occurred at local highs.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSrrdMqcjx6PchoCBUGrK29ZJvZBvW2M78pdfetGXVVzjfAmynr35FJJr33dUxYRtySJUW?format=match&mode=fit&width=640)

The key drivers of the cryptocurrency market's decline remain the challenging macroeconomic environment, some crypto project bankruptcies and monetary policy tightening by leading central banks. Due to the increasing share of leveraged trades, higher market volatility is expected soon.


StormGain analytics team (https://stormgain.com/)
(cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on September 06, 2022, 12:47:36 PM
Cardano poised for breakthrough after major upgrade

ADA (Cardano) was one of the few coins to remain stable after the May sell-off. This is due to the upcoming Vasil upgrade, which will allow developers to create more efficient dApps thanks to the optimization of smart contracts. In anticipation of future growth, sharks are actively buying up ADA, which has propped up its price for the past two months.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSrxH5x8ffjPLLTQ1ViDxWkuUbmgq3tvmM8tYaNC5TNbUiyUSkpzTCrFZ5y1wz1WX1fNaA?format=match&mode=fit&width=640)

The inclusion of support for smart contracts came as an unpleasant surprise to the community and investors, as expectations ran counter to reality, and a year ago the network experienced significant congestion following the Alonzo update. The release date of new projects has been postponed and the coin's price has dropped from $3 to today's $0.45.

But things should pick up after Vasil's major upgrade, which was pushed back from June to September. Developer Charles Hoskinson assured users that he does not anticipate further delays to the Vasil hard fork, despite the scale and complexity of its implementation. Many things will change, from the programming language to the consensus protocol.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSfY5VRf9BgGe3T833VejsKaAxoETNcdWL5GmLua3RXnpMBC5UpMq71wvzPog22HoiveTx?format=match&mode=fit&width=640)

Hoskinson has promised that this will result in Solana-like performance by the end of 2022. So far, Cardano has very little to boast about: DeFi has locked funds totalling $82m, compared with $1.5bn for Solana.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSsZa31fwYaS2RbLPV5nKEN8EFtSYfgg3pTK5CmYjHpQbVBxbDg1TozyitbjLi788ar83Y?format=match&mode=fit&width=640)

However, the community is still confident in the blockchain, as demonstrated by a recent Cointelegraph survey.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSfMPEMPrwHYRXbu5NgKV9CAzoGY5NkGR1y3kxX9VyP73hWxPvAoXrMonAggx4VGgECABx?format=match&mode=fit&width=640)

For the same reason, Robinhood recently announced the listing of Cardano, and mid-September will see the launch of Aada Finance, a new DeFi platform built on the Cardano blockchain. In addition to the standard lending and borrowing and protocols, Aada will offer its users NFT bonds.

Hoskinson is not alone in expecting a significant increase in network usage following the deployment of Vasil. Sharks (10k to 100k ADA) added 79m ADA July and another $138m in the first week of August.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSjiUP7gGor4P4FdMWMUfYFT5pqHahnWvqYqnN2GqGS6xWMG72B2KxU3NqMj3Pbj5xa6r2?format=match&mode=fit&width=640)

If the upgrade goes smoothly and leads to the expected results, Cardano stands a good chance of reversing the long-term downtrend. The hardfork is expected in mid-September.


StormGain analytics team
(a platform to trade, exchange and store cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on September 07, 2022, 02:09:33 PM
NFT trading volumes down 99% from May peak

Since many users consider NFTs to be an investment, this asset class fell out of favour following the recent significant declines in the crypto market. Trading volumes are now 99% down from their all-time highs, while daily sales have dropped by 85%.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSduzCHefuasir5rQuH4ZRDzsoznFR6WeEAgMdhM87FzxPtpiCzaBaQrfmRP2ymRED6gZ4?format=match&mode=fit&width=640)

In the autumn of 2021, some days saw over 200,000 NFTs change hands. Now, this figure has dropped to 30,000. The most sales per day were recorded on 1 May, with a total value of $812 million. Now, daily turnover rarely exceeds $10 million.

When it comes to trading platforms, OpenSea still holds the top spot with a total turnover of $32 billion. Out of those $812 million traded on 1 May, the platform processed $406 million. All of OpenSea's other indicators align with the general market trend. In monthly terms, the turnover for the year decreased by 90%.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYStK811YoP6BVcL6v5kbKz3ZQ1sTvcKqnpbq7aEwK89zfrJeuYRoQfQDA6F6XgHf8t9Zok?format=match&mode=fit&width=640)

Out of all blockchains, Ethereum is still the most used, with $29 billion in sales or 74% of total volumes. The decline in the NFT market caused the network commission to drop to its November 2020 level of around $1.50 per transaction on average. Of the top 30 NFT collections, 27 are based on Ethereum..

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSgAqzQz9piDtWbbrnPM4tv64EmT2N8T8j3TQy14G4b2rY9Y2AkwmG6UPmmYWtUkd6RRn6?format=match&mode=fit&width=640)

The NFT collection top spot is still occupied by the Axie monsters of the eponymous play-to-earn game, while second and third place are shared by CryptoPanks and the Bored Apes (BAYC).

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYStCyYyupVEG81xPhEu36BijrNHhSoZA2bYSRZgeSmfY4mJNRExKA2HJL49agrEYvTZ2ht?format=match&mode=fit&width=640)

Collection prices have also come under pressure. The BAYC ape has dropped 55% to 70 ETH over just four months. However, for patient investors, current trends are of no serious concern. For example, ape No. 5383, valued at just $242,000 (95 ETH) a year ago, was sold for $1.5 million (777 ETH) on 17 August.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSr4VXBsEqVam1PryHfDdkWfKwV4E1ugsPS2XjfWQdSD8n1ACoRuooRrNtunUBnutFSV6n?format=match&mode=fit&width=640)

But what do you think: can NFT collections really be considered an investment vehicle? Share your opinion in the comments!


StormGain Analytics Team (https://stormgain.com/)
(cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on September 09, 2022, 10:10:16 AM
GPU-based mining will never be the same

As soon as next week, Ethereum could move away from miners' services when it shifts the burden on validators. Public mining companies are looking at altcoins to reconfigure their equipment to. According to White Rock CEO Andy Long, GPU mining will never be as profitable as it was in the past two years for Ethereum.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSg9NZXUNe7qfZ1uHWCD862kc9CDNhxkjZjp5XDakUYksTusGN6DfsmNwCFcKn3zrZFHAE?format=match&mode=fit&width=640)

In mid-2021, Ethereum miners' earnings consistently exceeded those of Bitcoin miners. The reason for this was the large reward for transactions in terms of overall income. As such, in February 2021, it reached 52%, while the absolute high was in May 2021, when miners earned $1 billion in one month on commission alone. According to the mining company Hive, which mines ETH and BTC, mining an altcoin is 3-4 times more profitable when factoring in megawatts spent.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSdvADYyj5EHrHJ4KFHW759WdtiHfiRpBFWuby3PNTmZETzS58AFNr3Kc1GrQ8Eq7su61t?format=match&mode=fit&width=640)

Despite Ethereum's significant drop and the high computing difficulty, mining it is still the most profitable. Alternatives offer a return only half as large. The profitability calculator promises $2.34 a day for ETH and about $1 for mining ETC or ETP.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSmFBDNg9AvZZL9mfCCjqRQoDYgsMCjX1Wv7nReYgf7C5eyBFzxUHNsXZUAGBmb2twx2Ez?format=match&mode=fit&width=640)

However, these numbers will also be tested when the army of ETH miners begins to migrate to other coins, thereby increasing the hashrate and computing difficulty. On the other hand, decentralisation and resistance to potential attacks will grow, which will positively affect the investment valuation. In two months, Ethereum Classic has more than doubled after developers set mid-September as the final date for the merger.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSeea3853LPnmLjqnxFRN2zRe3c8VGopvXXsLVNbGH7eqUHTJY5Q2jsTX7NpsbMTW4SqDx?format=match&mode=fit&width=640)

Due to the expectation of a drop in the profitability of GPU mining, a number of miners are already getting rid of graphics cards, which is leading to a significant price drop in the secondary market. Andy Long believes that the prices will fall even more since supply will soon exceed demand.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSe46f8asoNF8Byz1Wim1kfDjhGg33V1XMvnXr2yantGa5YWW6eJ361B7KmjGMFMJyH4ZU?format=match&mode=fit&width=640)

The transition to PoS is expected to take place on 15 September. The main tests have already been conducted, and 76% of node operators have already updated their clients to the latest version.


StormGain analytics team (https://stormgain.com/)
(cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on September 12, 2022, 02:27:20 PM
Crypto winter? Take a look at the Bitcoin hashrate

Despite the decline in the crypto market's capitalisation and several major projects' bankruptcy, Bitcoin's hashrate is close to an all-time high. Miners are still upping their capacity, thus increasing network security and stability.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSiGGapgJPXeEnp33XDQCpwXsDv8EQfRvMj5BVV2dvR5jLrURTLEMxG8ErMK6Qx3oQpVDx?format=match&mode=fit&width=640)

On 31 August, the network's hashrate rose by 9% to 221.7 EH/s, which is close to the 11 May all-time high of 223.7 EH/s. Judging from the acceleration in block identification and the projected 1.5% increase in difficulty five days from now, miners are still putting new machines into use.

This situation appears at odds with Bitcoin's 72% crash from its recent record high and the subsequent decimation of public mining companies' share prices.

(https://steemitimages.com/p/3W72119s5BjVs3Hye1oHX44R9EcpQD5C9xXzj68nJaq3CeB5qXhCQhZeigg9RWutaQyL87iw5rffVx6KjiFdcsscqnUnjJH83CNQFHVq44tYv8fq9NeoNN?format=match&mode=fit&width=640)

The paradox essentially boils down to some companies' excessive optimism and others' preparedness for turbulent times. Stronghold Digital Mining, for instance, put in a large ASIC farm order on credit last year in the expectation that the market would continue to rise. In August, they were forced to return 26,200 machines that they had put forward as collateral. The amount quoted in the liquidation agreement was $67 million. Shares in the company are now trading 25-fold below their all-time high.

Cleanspark, on the other hand, announced yesterday that it was buying 10,000 Antminer S19j Pro from Bitmain for $28 million. CEO Matt Schultz noted that the company was preparing for the crypto winter by boosting its capacity at bargain prices. In the space of less than a year, the company's hash rate rose by 300% to reach 3 EH/s, and it currently mines 13.25 BTC daily. Cleanspark's stock is also trading at a significant discount on early 2022 prices, but this latest news saw it shoot up 7.5% in a single trading day.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSehfUh6SsJSWd62XuFkiQSpJEVZCfjtGZ7VZ7T7vi6NHb5tgZm8pq1ieXZLMH8TrY2u2e?format=match&mode=fit&width=640)

Overconfidence in the investment prospects of mining companies arose as a result of the 2020-21 rally when prices rose steeply against the cost of mining. Some firms had counted on the growth continuing and so took out loans, seducing investors with promises of high returns. Others were ready for the ensuing market cooldown.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYShg7athVCv9ctmuB1Tfy3PsXybSeod4ckb1Q9FLef3DwfUBhfbkoj128eYU23Lnn9i7fk?format=match&mode=fit&width=640)

A similar trend can be observed in miners' capacity to accumulate Bitcoin. The companies with the strongest business model are holding on to their mined coins in the hope of selling them at a higher price. Those with weaker hands are forced to dispose of their Bitcoin at the worst possible time since the general market decline has provoked a severe deficit in operating capital. By increasing supply, they are putting further pressure on prices.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSrpVzpfei3zETWogqd21f14MErA9aXe4QWZKVWg1Z7LnToJcaVp2FpZFbqP92d5ScT3nE?format=match&mode=fit&width=640)

In the period of May-June, public miners sold more than they mined during these months. For example, the hashrate leader Core Scientific maintained its holding strategy, yet over this period, it sold 12,000 BTC, slipping from first to sixth place in the rankings in terms of reserves held.

It's hard to call what is happening right now a crypto winter. If anything, it's more like a stress test for companies and projects. Those with a strong business model are not just sitting on the sidelines but are actively taking the opportunity to strengthen their positions.


StormGain Analytics Team (https://stormgain.com/)
(cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on September 13, 2022, 01:46:35 PM
September poised to be the month of altcoins

For the last three months, Bitcoin has been trading in a relatively tight range between $18,000 and $25,000. A break below this level could come as early as September since Fed Chair Jerome Powell has already announced the need for the Fed to take "forthright and decisive" action. This comes as Ethereum and Cardano are preparing to revisit key levels.

The Fed's problem lies in the absence of any positive movement as it tries to rein in inflation. Despite raising its key rate 10 times since the start of the year (from 0.25% to 2.5%), price pressure remains worryingly high, far outstripping its 2-3% target rate.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSejmEZsTW6h8GtcYzGpL6zmYZVMmcjVStfm2qjPpFaDoDgySAEyuavW5eT35x2Day8zfG?format=match&mode=fit&width=640)

Financial analysts are unanimous in their belief that the Fed will announce a consecutive 0.75% rate hike to 3.25%. The probability of it happening is estimated at 84%.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSm7uYcLfrGaFzJKPm1LdKezH3nPeuybBosJRgUn8LqqNkKGw9Vh4iGEHHBE4SRpoVTDsL?format=match&mode=fit&width=640)

The influence of the US economy on the financial world is hard to overestimate since the US generates one-quarter of the globe's entire GDP, while dollars account for 59% of all international reserves and 39% of all cross-border payments.

As long as the Federal Reserve's key rate remains low, investments in developing nations' government bonds and risk assets like Bitcoin provide higher yields. As interest rates increase, the risk-to-reward ratio is reduced, and we see capital flows reverse.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSjnr5fYt2JM9qDnUNzrmsBDDZnmVkGD7BAPuzo4oaN3UFrRTG45QWLG2XqV7Yy4mRbATp?format=match&mode=fit&width=640)

On 13 September, the US inflation data for August will be released. Barring any significant drop, the 21 September will see the Fed take the decisive action Powell was talking about. Further hikes will put additional pressure on the cryptocurrency market.

Beyond the economic headwinds, Ethereum's upcoming transition to PoS and Cardano's Vasil hard fork will also have a negative impact on Bitcoin's investor appeal. As such, institutional investors are already moving out of Bitcoin funds (during August, weekly outflows stood at $14.9 million), while altcoin funds saw net inflows.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSjqFoUz2ogL5mrCrZwwPRAhyUmfSV26LDMgs9vATyNf9CLT28u8M4sJYV8ecL6Yq9YJnz?format=match&mode=fit&width=640)

The most likely date for the Ethereum merge is 15 September, with a soft deadline set for 19 September. For Cardano, the hard fork is just as significant since the move is supposed to optimise the network's processing of smart contracts, among other important updates. Vasil is set to take place on 22 September.

One dark horse in the race is Ethereum Classic (ETC), as Ethereum miners are migrating predominantly to this coin after the merge. ETC is Ethereum's predecessor, a new symbol of decentralisation and a supporter of the "code is law" principle. The new PoS-based Ethereum risks having to contend with rising centralisation and transaction censorship as US crypto exchange Coinbase accounts for 15% of its total validator pool.


StormGain Analytics Team (https://stormgain.com/)
(cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on September 14, 2022, 05:06:06 PM
Bitcoin rises, Ether falls ahead of Merge

Bitcoin (BTC) jumped, but Ethereum (ETH) dropped at the start of the week, with a big event slated to have an effect on the cryptocurrency market in the next few days: the rollout of the Ethereum Merge.

The top cryptocurrency by market cap is currently trading at over $22,200, an almost 2% increase over the past 24 hours, as investors appear ready to take risks again. But it's a different story with Ethereum, the number two crypto, which recently took a 2% tumble to trade just below $1,700 on Monday and currently hovers around that range. Investors appear to be wary about the Merge, Ethereum's major upgrade from Proof-of-Work to Proof-of-Stake, that is scheduled for this Thursday.

It's possible that some traders are selling ETH based on the Merge hype, with a knock-on effect of driving Ethereum prices down while boosting BTC and the crypto market as a whole. While many altcoins were still struggling, there were noticeable surges in Solana (SOL) and Cosmos (ATOM), which jumped almost 25% after crypto research firm Delphi Digital transferred its R&D operations to the Cosmos ecosystem last week.

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Bitcoin has been trading within a range of successive bear flags the year so far, so the recent upward move does not necessarily signal a bullish reversal. Positive signs to watch for include a daily high of over $25,000 or a breakout to the SMA 200 at $30,000 to signal a longer-term trend change. Keep an eye on Merge news, as high volatility is expected for ETH.


StormGain Analytics Team
(cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on September 16, 2022, 11:16:39 AM
7 reasons why Wall Street is getting bullish on crypto

After some time in the doldrums, the crypto sector is facing its next major event in the form of the imminent Ethereum Merge, but that's not the only promising element on the horizon for digital assets. In fact, even institutional investors are seeing signs of recovery in the cryptocurrency space.

Top Wall Street investment firm Bernstein recently issued a note to investors which lists seven factors that could reignite the cryptocurrency market to regain or exceed its former heights. In the note, Bernstein analysts Gautam Chhugani and Manas Agrawal detail the potential catalysts behind the next crypto bull market.

1. The Ethereum Merge

Over the next few days, Ethereum (ETH) will switch from a proof-of-work consensus model to a more energy-efficient proof-of-stake system. While not everyone in the crypto community is in favour of the Merge, notably the PoW diehards that wish to fork their currency from Ethereum, the general outlook is that this will be a positive event for Ethereum and crypto as a whole. Bernstein shares this view and notes it as a potential growth driver for the cryptocurrency market.

2. Growth of rollups

The Bernstein list also highlights the fact that rollups, Ethereum layer-2 platforms that process transactions off the main network, have seen considerable growth in active users and on-chain liquidity. Rollups function as a way to lower costs and wait times and have become so popular for ETH transactions that they now make up around 15%-25% of all transactions on the Ethereum blockchain. Taking into account both the Merge and the growth of rollups, the next prediction by the Bernstein analysts might not seem so shocking.

3. Ether overtakes Bitcoin as the top cryptocurrency

Could Ether really take the throne that has tenaciously been held by Bitcoin (BTC)? It's not out of the question. After all, cryptocurrency as a technology is still young, and Bitcoin's rigid structure does not scale or take to innovation easily. Chhugani and Agrawal highlight how successful digital assets should be "innovation-driven" rather than "a macroeconomic asset class". They argue that Ethereum has the innovative drive to build the structure of the future digital asset economy.

4. DeFi makes a comeback

Despite all the turmoil that characterised the year 2020, the crypto community enjoyed the so-called 'DeFi summer', with these layer-2 chains attracting huge investments and paying out great rewards to users. The Bernstein analysts write that the improved scalability of these chains has made DeFi much more accessible and affordable, citing the use of rollups as a key booster for the DeFi sector.

5. Play-to-own gaming NFTs

After the initial wave of hype, NFTs are struggling to find a solid long-term niche, but digital items do have a natural home in the gaming sector. Play-to-earn crypto gaming, which rewards players with tokens, could evolve into a much more profitable play-to-own model, wherein players can use NFTs to certify ownership of valuable game items. The Bernstein team notes how "crypto games will have their own unique culture… Over a million NFT avatars will become playable characters across multiple interoperable crypto games". In support of this notion, the authors note how many talented individuals are migrating from the traditional gaming industry to Web3 gaming companies.

6. Token design focuses on long-term value

The Bernstein analysts are no fans of meme coins. Instead, they see the future of crypto in new tokens that are designed to offer real tech applications and long-term value accumulation. "More sustainable token designs will bring back retail interest in investing in application tokens," the authors noted.

7. Value accumulation at the application layer

Historically, blockchains accumulate value at the base protocol layer as opposed to the application layer. This is referred to by analysts as the 'fat protocol thesis'. However, Bernstein's note outlines how the increased scalability, lower transaction costs and renewed retail investor appeal of application tokens could ensure that the application layer of blockchains will see significant growth in the near future.

StormGain, your gateway to successful crypto investment

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Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on September 19, 2022, 03:09:57 PM
Is Avalanche (AVAX) a good investment in 2022?

Decentralised finance (DeFi) is a promising market that is attracting more and more attention due to its passive income opportunities. However, of the total number of cryptocurrency holders, only a small proportion are actively involved in the DeFi sphere. One promising DeFi project is Avalanche, which has a good chance of competing with Ethereum 2.0. Is Avalanchecrypto (AVAX coin) a good investment? In this article, we provide you with the information you may need to make your decision.

What is Avalanche (AVAX)?

Avalanche is an open-source smart-contract platform for running dApps and launching customised blockchains in a single, decentralised and scalable ecosystem.

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Over time, people have come to a false understanding that blockchains have to be slow and not scalable after seeing the existing blockchains in action. The Avalanche protocol employs a novel approach to consensus to achieve its strong safety guarantees while achieving quick finality and high throughput, without compromising decentralisation. — Emin Gün Sirer, Co-founder and CEO of Ava Labs.

The origin of Avalanche

The Avalanche platform was created by Ava Labs, which was founded in 2018 by Cornell University professor Emin Gün Sirer and his colleagues Kevin Sekniqi and Maofan Yin.

The Avalanche project's white papers were published in 2019, the same year Ava Labs raised $12 million in a private token sale. Later, in 2020, it raised $42 million in a public ICO.

Avalanche's mainnet was launched on 21 September 2020.

Avalanche explained

The Avalanche Primary Network consists of three individual blockchains, which are validated and secured by all the Avalanche validators:

1. Platform Chain (P-Chain) coordinates validators, tracks Subnets and enables the creation of new Subnets;
2. Contract Chain (C-Chain) enables the creation of smart contracts. It's an Ethereum Virtual Machine (EVM) which means it can be used to run Ethereum-based dApps;
4.Exchange Chain (X-Chain) is a platform for creating and trading digital smart assets. Each may have its own set of rules governing its behaviour.

Avalanche Subnets are independent networks whose creators define their own rules for these networks regarding membership, tokenomics, compliance, etc. Validators of all custom Subnets must also be validators of the Primary Network by staking at least 2,000 AVAX.

The Avalanche ecosystem uses two consensus mechanisms: Avalanche and Snowman.

Instead of a blockchain, the Avalanche protocol uses the Directed Acyclic Graph (DAG), which allows the network to process transactions in parallel. There are no blocks in Avalanche: the protocol operates with parent transactions and vertices.

Validators send requests to each other randomly to determine the validity of transactions. No additional validation is required.

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Snowman is based on Avalanche but arranges transactions linearly and creates blocks instead of vertices. This allows it to handle smart contracts very effectively. Snowman protocol is used in both P-Chain and C-Chain.

The Avalanche platform allows the creation of powerful dApps as well as public or private blockchain networks with their own sets of rules.

The Avalanche's areas of application include:

- Decentralised Finance (DeFi): asset issuance, Decentralised Exchanges (DEXs), borrowing and lending, insurance, stablecoins, etc.
- Governance, institutions and enterprises: Central Bank Digital Currencies (CBDC), digital identity, intellectual property protection, supply chain management, real estate, etc.
- Non-Fungible Tokens (NFTs).

What is AVAX used for?

AVAX is the native token of the Avalanche platform. It's used for paying fees, staking and settlements between Subnets.

The maximum issuance of AVAX is hard capped at 720 million tokens. Of this amount, 360 million has been minted at launch, and the remaining 360 million is scheduled to be issued as staking rewards. This hard cap, combined with the fact that fees are then burned, makes AVAX a deflationary asset.

Avalanche pros and cons

Avalanche is a quite promising project whose capitalisation speaks volumes about how much the cryptocurrency community expects from it. Indeed, the fundamentals of the project are encouraging:

- Avalanche is one of the fastest smart contract platforms on the market.
- The platform's innovative architecture offers potentially unlimited scalability while maintaining a high degree of decentralisation and high performance.
- Users are able to run highly customised public or private blockchains on the platform.
- Avalanche is Solidity-compatible and allows users to run Ethereum-based dApps, as well as easily transfer assets between Avalanche and Ethereum blockchains.
- The platform runs on an energy-efficient Proof-of-Stake (PoS) algorithm.
- At the moment, transaction fees on the Avalanche network are significantly lower than on the Ethereum network.
- The project has a number of major partners and investors.

The main drawback of the project is that Avalanche has quite a few direct competitors, including Ethereum, which is the leader in this niche and is not about to give up, especially after the launch of the PoS algorithm and the move to Ethereum 2.0.

Avalanche (AVAX) price analysis

As of 14 September 2022, the AVAX token ranked 16th among cryptocurrencies by market capitalisation at $5,654,341,622.

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AVAX price statistics (as of 14/09/22)

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AVAX/USD historical price chart

The AVAX price mainly follows the general state of the crypto market and, like the rest of the crypto market, is currently going through a 'crypto winter' period.

Avalanche investment

So, having figured out what kind of project it is, what can we say about the investment potential of AVAX?

Most prominent AVAX investors

Avalanche's investors include major market players such as Andreessen Horowitz, Galaxy, Bitmain, NGC, Dragonfly Capital, Polychain, Three Arrows Capital and others.

Future of the AVAX coin

Given the project's solid fundamentals and AVAX's deflationary model, the token's price has a very good chance of rising once the bull trend in the crypto market returns. However, there are a couple of things to keep in mind. First, despite the deflationary model, a rather large proportion of tokens have yet to be released to the market. Their issuance will create some inflationary pressure on the price. Second, the market capitalisation of the token is already quite high, and the competition in this niche is quite intense. Should Avalanche start falling behind its competitors, AVAX's price will decline.

Benefits of investing in Avalanche

In addition to the potential capital gains and other benefits of investing in cryptocurrencies, investing in AVAX is also capable of generating additional passive income in the form of staking rewards. At the moment, the average income from staking (without running a validator node) is 8.5% APY.

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Is Avalanche a good investment in 2022?

Cryptocurrencies are a high-profit, high-risk type of investment. When investing in cryptocurrencies, don't invest more than you can afford to lose and always do your own research.

Having said that, we can say that AVAX looks pretty promising at the moment. It has strong fundamentals, and at the same time, along with the rest of the crypto market, it has fallen quite a bit in price. Given the fact that there are some signs that crypto winter may be coming to an end, AVAX could indeed be a good addition to a crypto investment portfolio.

How to buy AVAX with StormGain

Buying AVAX, as well as many other cryptocurrencies, with the StormGain crypto platform is quite easy. To do so, you will need to follow a few simple steps:

1. Create an account on StormGain. It's easy. (https://app.stormgain.com/#modal_register)
2. Go to the 'Wallets' section and click the 'Deposit' button.
3. Choose a wallet with the cryptocurrency you want to buy, e.g. AVAX.
4. Select the type of payment. You can pay either with another cryptocurrency (e.g. USDT) or with fiat money using a credit card.
5. Type the amount of crypto you want to buy.
6. Choose the payment method and click 'Deposit'.
7. Proceed with payment.
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on September 22, 2022, 01:45:40 PM
Ethereum loses ground after merge

It's been a whole five days since the Ethereum Merge, but the cryptocurrency is already losing market share and falling in value faster than Bitcoin. The main reason for this is the elevated risk associated with centralisation and the potential for pressure from financial regulators on coins using a PoS algorithm.

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Since the merge, Ethereum has lost 15% against Bitcoin and seen its share of the cryptocurrency market shrink from 18.8% to 16.6%, despite the lack of any errors when making the transition from mining to proof-of-stake. The scepticism of market participants is due chiefly to the fact that the updated network is dominated by major players. For instance, Lido Finance and Coinbase account jointly for 45% of the total network, and if we add another two exchanges (Kraken and Binance), their share rises to 60%.

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Coinbase and Kraken are registered in the US, while Binance has a branch in the country. In the event that US regulators make any demands to censor certain transactions, it is more likely than not that these organisations will comply.

As practical experience shows, the autonomy of decentralised protocols is not immune to criticism either. When Tornado Cash found itself on the US Treasury Department's blacklist, the DeFi platform Aave took it upon itself to block all addresses that had received even one single transaction using the coin mixer. Therefore, the level of independence of the decentralised platform Lido Finance is debatable.

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Head of the Securities and Exchange Commission (SEC) Gary Gensler added fuel to the fire when he announced the potential recognition of PoS coins as securities just a few hours after the Ethereum merge. If the regulator is able to uphold this status, it will require participants in crypto auctions to follow stricter rules.

Ripple's current position can help you understand the negative impact of such a decision. In fact, the SEC has been battling the company for several years now in a bid to have XRP declared a security. Since the legal proceedings began, XRP has dropped from third to seventh in the market capitalisation rankings, and, unlike the majority of the top coins, it has not been able to revisit its 2018 all-time high.

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Miners have taken a considerable hit, too, as Ethereum was one of the most profitable coins to mine, with a top-of-the-range ASIC averaging a return of $79.50 per day. Chandler Goh, who called on miners to migrate to the EthPOW fork, now predicts that 90% of his colleagues will now exit the market on account of the decline in profitability. The EthPOW launch was not error-free, however, with Goh giving the new fork's debut a 5 out of 10.


StormGain analytics team (https://stormgain.com/)
(cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on September 23, 2022, 11:11:03 AM
Activity on the Solana network surpassed Ethereum long ago

A number of news outlets misinterpreted the chart provided by the Nansen analytical agency when they published stories that Solana had overtaken the Ethereum network in terms of the number of transactions in Q2 2022. Here's what the old chart looked like:

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYShZ9tqN5ZGkyyzmwTtqqqGPLzyoLdeUNRABSey7G2DgUR9S4ZSdkf2CcNE9xUWBjmd3GS?format=match&mode=fit&width=640)

At first glance, it may seem like Solana surpassed Ethereum in June 2022. However, we should first look at the scale, which is broken down in increments of 100,000 for Ethereum (on the left) but increments of 5 million for Solana (on the right). Apparently, Nansen decided to avoid the risk of the information being misinterpreted, and the chart now looks like this:

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSgnShXwbbMfAAZdztLRBjQLbcpWjeu36wNPcMNAHuwryf6oqbJJjjyfnuFu23n5mwo2az?format=match&mode=fit&width=640)

In terms of the number of transactions, Solana surpassed Ethereum back in August 2020, which is natural given the huge difference between them in terms of throughput. The maximum throughput for Ethereum is 20 transactions per second (TPS), while Solana easily boasts over 3000 TPS.

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It's also worth noting that Ethereum's transition to a proof-of-stake protocol had practically no effect on the network's speed. It will only achieve scaling in subsequent updates. That's why, from a practical point of view, Ethereum's Merge didn't yield any positive results. Due to the difference in fees, using Ethereum costs users a total of 500 times more than Solana.

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Solana was once dubbed the 'Ethereum killer' due to its speed and decentralisation. The network would already be in a higher position in the overall standings if it weren't for regular shutdowns due to failures caused by internal problems or DDoS attacks. Its low fees turned out to be a double-edged sword.

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Since Ethereum remains the most stable blockchain supported by smart contracts, a number of projects have already expressed support for it in the future. Yuga Labs, which is responsible for the popular collection of Bored Ape Yacht Club NFTs, said Ethereum is the only network where it will release its future works.

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However, newer projects and artists are increasingly choosing Solana. Solana set a new record in September for the number of weekly NFT transactions, exceeding 842,000.


StormGain Analytics Team (https://stormgain.com/)
(cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on September 26, 2022, 11:22:49 AM
Why Ripple is rising against the market

The Federal Reserve's rate hike led to a natural drop among risky assets, including most cryptocurrencies. Ripple (XRP) stands out from the crowd, as it's gained 27% in value over the past seven days.

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For several years now, a legal dispute has been going on between Ripple and the US Securities and Exchange Commission (SEC). The regulator is trying to prove in court that XRP is a security and, as a result, the sale of its coins to the public was carried out in violation of US law. Ripple, in turn, is demanding that the SEC disclose and justify the parameters by which the regulator categorised XRP in this new status.

SEC representatives previously noted that Bitcoin and Ethereum are not securities, and the former director of one of the regulator's divisions, William Hinman, added XRP to these cryptocurrencies in a speech. However, when Ripple referred to this fact during the trial, SEC representatives stated that it was impossible to identify the person in the video.

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As the case began to look more like a farce, on 17 September, both parties filed a motion for summary judgement. Ripple noted in its motion that the SEC was never able to prove that contractual obligations arose between the company and token buyers. It also claimed that coin owners received a profit that stemmed from the "market forces of supply and demand". In other words, the affected party is not present, and the SEC has no standing.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYStCpAbQzpTbSfxdZhgvqHTvo8HkpLng3nqiH7bCp3gqsSVrwnCcwbSTfUeocjciZKEDSe?format=match&mode=fit&width=640)

The dispute between the SEC and Ripple will soon come to an end. The crypto community is optimistic about the case's outcome, which has already led to XRP strengthening. If the case doesn't go Ripple's way, sanctions will be applied against the company's management, and a number of contracts for interbank services will be reviewed. The company's clients include Bank of America and Santander, while its package solutions include the launch of a central bank digital currency (CBDC).

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The dispute between the SEC and Ripple is more important than it might seem at first glance. If the regulator wins, Ethereum will be the next coin to be hit since its transition to a PoS protocol has made the cryptocurrency more centralised (over half of its transactions now take place in the US). In addition, SEC Chairman Gary Gensler commented just a few hours after Ethereum's Merge that the coin could be considered a security since "the investing public is anticipating profits based on the efforts of others".


StormGain Analytics Team (https://stormgain.com/)
(cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on September 27, 2022, 10:45:01 AM
Cardano conducted its super-important Vasil hard fork last year

Since the launch of smart contract support, the Vasil hard fork has been a major event for Cardano. The update is designed to increase network bandwidth and reduce developer costs. In just 24 hours, the coin saw its value increase by 5%.

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The black streak for Cardano started a year ago with the Alonzo hard fork and the launch of smart contract support. In terms of technology, the network wasn't ready, which resulted in overloads and delays in transactions emerged. Many users erroneously assumed that Cardano simply couldn't process more than one transaction per block. Disappointed investors began to dump the coin, which led to its fall from $3.00 to the current $0.50, and the blockchain dropped from third place in the overall standings to eighth.

Due to the technical failure, Cardano missed the rally in the DeFi sector, which grew from $15 billion to $167 billion in 2021. For example, the newer, faster Solana blockchain saw its value increase from $0.5 billion to $7 billion in Q2 2021 alone.

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The first decentralised exchange on Cardano was MuesliSwap, which launched on 26 November 2021. However, the exchange and subsequent startups faced interruptions and delays in their work. As a result, most projects refused to launch right away, anticipating a future hard fork. In its best days, the amount of staked funds in DeFi reached just over $300 million.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSfMjQRWAGGe2cN53PaHDVTHR49CEmS9cq27oTqoVFtd7sm7K6j7nLzguLjCjGVrLNzXyg?format=match&mode=fit&width=640)

With the Vasil update, Cardano should get a second wind, and this year, the network will reach the speeds of Solana, at least according to developer Charles Hoskinson. Over a thousand blockchain-based projects are in some stage of development.

As Aggelos Kiayias, a Cardano developer, pointed out, you can always improve speed and achieve more success by sacrificing security. People are in too much of a hurry, which has turned DeFi into a kind of playground for hackers. Cardano takes an academic approach toward developing and testing new products and evaluating system security, which results in a natural lag behind its faster competitors.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSkLte8mR2cBnRGp6Gy7Rye7TAQytKJq5gdMvhD7PtVYET5vS6tfxLME44KG88eaeJ7Rve?format=match&mode=fit&width=640)

On 22 September, the Vasil hard fork was successfully completed, and full functionality will become available on 27 September. Without going into technical details, as performance and scalability increase, the network should become more secure and less expensive.


StormGain analytics team (https://stormgain.com/)
(cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on September 28, 2022, 01:04:25 PM
Ethereum Classic disappointed miners' expectations

On 15 September, Ethereum shifted away from miners' services as validators are responsible for assembling blocks on the network. The altcoin ranked first in terms of mining profitability, which resulted in the network's total computing power growing until the announcement of Ethereum's Merge date. A maximum of 1.27 PH/s was delivered in June, which is the rough equivalent of 22 million 3060 Ti graphics cards with a capacity of 58 MH/s.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSiDprBo57EUdNB72SQJM3FRFRvnzkasu2i7yVBWkUDuj7jqomMiHSrMeWu1NwG4xfag4N?format=match&mode=fit&width=640)

On 15 September, Ethereum shifted away from miners' services as validators are responsible for assembling blocks on the network. The altcoin ranked first in terms of mining profitability, which resulted in the network's total computing power growing until the announcement of Ethereum's Merge date. A maximum of 1.27 PH/s was delivered in June, which is the rough equivalent of 22 million 3060 Ti graphics cards with a capacity of 58 MH/s.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSu6yBX7ZKsX9fubsDz8R9LZGiCCgtTNcWY3xJicFJyJhesepSMQojYmknf865PKvxspXY?format=match&mode=fit&width=640)

Despite the network's increased security, the coin's value didn't increase proportionally. ETC's price has moved upward since its Merge was announced. However, since then, it's been trading in the red since the date of the actual transition. A classic example of the approach is "buy the rumour, sell the news".

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSr5mYtvCHPytFhLiTpXo5NLYWetKyMVNKmXuHSd2Xo5ZZMHechSmp4a1nr5EcLDzrfGhU?format=match&mode=fit&width=640)

Due to the influx of miners, the mining difficulty has increased, which, while maintaining a low price, has led to a more than three-field decrease in mining profitability from $9.70 to $2.90 per GH/s per day. This is a low for Ethereum Classic and another test of miners' perseverance.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSmFCkaRBWJxygXRvDm9txxKfzcrQyemkMaSMEvrfoa3rmRvSYs7FJqZU9gYYHxZtLim6W?format=match&mode=fit&width=640)

However, low performance is not a reason to put an end to the network's future. Ethereum has rightly been criticised for increased centralisation and risking having its transactions censored. On the day of the merger, SEC Chairman Gary Gensler announced that the regulator could possibly recognise PoS coins as securities.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSiFwxEasFhjvWdj2iu11BsUe8yiabiy8JuZiCoBnVxqoGinAasF95eSyekiN5Pnb5J1ux?format=match&mode=fit&width=640)

The risks that have arisen with Ethereum are leading to a revival of the community around ETC. Thus, the volume of funds staked in DeFi gas increased from $93,000 in July to the current $607,000. This is a drop in the ocean compared to Ethereum's $31 billion. Nevertheless, a positive trend can be seen, and if the above risks materialise, interest in ETC will increase many times over.


StormGain analytics team (https://stormgain.com/)
(cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on September 29, 2022, 04:56:15 PM
Tether once again in regulators' sights

Tether's dominance in the stablecoin market, the ambiguity of the composition of its reserves and its questionable actions in the past leave regulators uneasy. After Tether (USDT) reached a pre-trial settlement of claims with the New York State Attorney General's Office (NYAG) and paid a fine of $18.5 million, Judge Katherine Polk Failla requested lots of financial statements from the company as part of a new process.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSrur1L5QVARSsT87zztC1yhNq8vUWJ67vctXKnk9QW3GEL7qCXZQFY2T14PwM5W9cehGi?format=match&mode=fit&width=640)

Although USDT's market share over the past two years has decreased from 77% to 46%, the stablecoin remains the leader, which predetermines the systemic risk for the entire cryptocurrency market if Tether were to collapse. That's why the quality of its reserves is critical since USDT is backed by existing assets when pegged to the US dollar.

Initially, the company stated that each USDT was backed by $1 in a bank account. However, as a result of an audit and litigation initiated by NYAG, a disturbing picture emerged. Less than 4% of the collateral is held directly in fiat. Commercial bonds account for another half of the reserves.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSfYNxA17H9auwrCwQgyyfcq4qnD3kGRHyemJREBnh5RtBcfopgxU3rPG97r5m4ZvQHCQN?format=match&mode=fit&width=640)

The claims against Tether from the prosecutor's office were hushed up thanks to a fine of $18.5 million and the obligation to disclose the overall picture of the state of its reserves. That same year, Tether representatives petitioned the New York Supreme Court to block the media from accessing the information on the state of its reserves.

However, another lawsuit initiated in October 2019 is now moving forward. In it, Tether is accused of issuing unsecured USDT and subsequently pumping Bitcoin together with Bitfinex in 2017. The plaintiffs demanded an investigation into the state of the reserves and the movement of the company's funds, in particular, to find out how USDT's capitalisation grew from $100 million in June 2017 to $2.2 billion at the beginning of 2018. During the same time, Bitcoin's price jumped from $2,300 to $19,000.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSejnotRk5ChmdXKjZY99x6wNyTdnAURYq9F24gEPPEK7BNPBPDEeF8CkAfCnTN2houBUa?format=match&mode=fit&width=640)

As part of the investigation, the judge requested Tether's ledgers, profit, loss and cash flow statements, as well as records of any cryptocurrency transactions or transfers. The company was quick to notify customers on its website that the request is routine and that it in no way supports the unsubstantiated claims of the plaintiffs.

One curious event in this story is the $1-million fine the SEC issued in the middle of this month to the accounting firm Friedman LLP for failure to "respond to fraud risks." Friedman LLP audited Tether between May 2017 and January 2018 (Tether terminated the partnership due to delays in audits).

Since mid-2022, Europe's largest BDO has been reporting on Tether reserves. As of 30 June, they are represented by the following assets:

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYShgH3x7TvNseVtqoPaY52atNn7feTtGF5nCjERovQMEVzBhdj3PPPbFmv2KLqcRPmgHA6?format=match&mode=fit&width=640)

At the beginning of the year, Tether promised to reduce the share of commercial bonds in its reserves, increasing the volume of US Treasury bonds and other class A1 investment instruments. As the last breakdown shows, highly liquid assets still make up 80% of total assets. And in the absence of detailed disclosure, the quality of the remaining 20% can't be evaluated. The company's own assets in digital tokens amount to $226 million.

The interest of regulators in Tether is caused not only by possible transgressions in the past but also by the upcoming tightening of US legislation in relation to issuers of stablecoins. If gross violations take place, sanctions will be applied to Tether, which may ultimately lead to the loss of USDT's leadership in the stablecoin market.


StormGain analytics team (https://stormgain.com/)
(cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on September 30, 2022, 05:38:35 PM
LUNA and UST creator Do Kwon runs off with $67 million?

In the spring of 2022, UST was one of the three largest stablecoins, with a market capitalisation of $19 billion. Its sudden decoupling from the US dollar led to a crisis among a number of crypto projects, including Three Arrows Capital and Celsius Network. UST's founder, Do Kwon, told the community that there simply wasn't enough money in the fund to provide liquidity to UST. However, new details about the affair bring his honesty into doubt.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSsghiEpQbKpoQopUbKNftRXacNHFmhZ6Mn7jqXH9cai92rxMXy6SeEyiaj1SA3caTFToc?format=match&mode=fit&width=640)

UST was the Terra project's algorithmic stablecoin. Its exchange rate was supported by its internal coin, LUNA, and a $3 billion cryptocurrency fund primarily held in BTC. The project looked promising, which resulted in LUNA being the only asset in the Top 10 cryptocurrencies by market cap to set a new all-time high in 2022 and assuming second place after Ethereum in the DeFi world.

So far, the exact cause of the crash has yet to be determined, leaving it an open question whether it was due to the system's poor balance, an external attack on UST's stability or abuse of investor confidence. When UST lost its peg to the US dollar, the LFG fund was depleted within hours, and LUNA depreciated.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSrrSD5ytzfVNHPsvEkX1mfYRU5XsZ6aNixkA4YN8rQvjLYrpxK4smSxL2Nz9XdNHqwhci?format=match&mode=fit&width=640)

The analytics firm Elliptic attempted to track down what happened to the fund's assets back in May. It turned out that 28,000 BTC were sent to an address on Binance, and 52,000 BTC were sent to Gemini. After that, the trace was lost. Kwon claimed that these funds were intended for market makers to sell Bitcoin and buy UST.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSiPtcRuwtki2DudDysHU5YdfRVao72j5REqzeZeAQtAz6tLza9GBqs8Ke7tQHxr3J4uRY?format=match&mode=fit&width=640)

Since Kwon didn't appear at the South Korean police station upon request and his whereabouts couldn't be established, on 14 September, South Korean authorities issued a red notice to Interpol to locate, arrest and extradite him. Between 15 and 17 September, 3,313 BTC (~$67 million) from the LFG wallet on Binance were transferred to KuCoin and OKX, according to CoinDesk, which referenced the analytical agency CryptoQuant. Law enforcement agencies in South Korea have asked the exchanges to freeze the funds they received.

At the same time, Kwon claims through tweets that he is not running from anyone and says that claims that he transferred the funds from LFG for his own needs are disinformation. LFG said in its official account that there was only one BTC wallet, forgetting about the history of the transfer to market makers.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSsgQFEx7aVwMr5iJzJkA21aoCqMtFKCeBsvjAGFjepRzbJciMJii9PvZjCBxJM3ztW41c?format=match&mode=fit&width=640)

Unfortunately, there are increasingly more indicators that hint at Kwon playing an unscrupulous game in which the community, investors and partners are just interchangeable pieces. Since Kwon continues to hide from the police, the South Korean Ministry of Foreign Affairs plans to cancel his passport.


StormGain analytics team (https://stormgain.com/)
(cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on October 04, 2022, 12:45:24 PM
Investors pull out of cryptocurrency funds

Ethereum's Merge was a disappointment both for miners, who lost their most profitable coin, and for institutional investors, who had hedged their bets on a rally following this exceptional event.

In August, institutional investors withdrew an average of $14.9 million each week from Bitcoin funds and invested $6.4 million in Ethereum.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSgvisY6nAV7d8vANwdyGgTvhB7mnYFRDtP5SfWS5eLLgBhjDJjrRGisXra4G7mc9D8prS?format=match&mode=fit&width=640)

Ethereum's successful transition to a proof-of-stake algorithm may have led to a rally in the right macroeconomic environment, but on its own, it did not solve a number of key issues facing the coin, such as low bandwidth or high fees. In addition, whales were preparing for 'sabotage' by pouring ETH into cryptocurrency exchanges (we wrote about this at the end of August). During the week of the Merge (12-18 September), they sold off 22% of their assets, which put additional downward pressure on the ETH's price.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSgqzZjeovcnHhZfVCErEiTvBKjVBCuSoDUvNHkXirAbjKGDvdtqxBhVbEjJT9tV8aP2XQ?format=match&mode=fit&width=640)

When institutional investors' hopes failed to materialise, they made an exit. And while Bitcoin outflows stopped in September, Ethereum funds saw a substantial exodus of $26.4 million per week on average.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYStJxGmUorxACmU6qnGeBx6uuyW5iVvpEaGE6BDz6FzvhcnD18fJmSvCYSPhSMxztL7iuU?format=match&mode=fit&width=640)

At the same time, there was an increase in short Bitcoin funds (funds which give investors exposure to derivatives that bet against the price of Bitcoin). The average weekly inflow was $10.4 million, led by the ETF from ProShares, which rose by 44% to $98.8 million in one month.

The drop in investment is also affecting public miners, who sold more coins in May, June and July than they produced during that period. The lack of a plan B for a prolonged crisis has left them no choice but to increase market supply and further drive themselves into a corner. The drop in investment attractiveness of publicly traded mining companies is also having a negative impact on the industry, and further sell-offs will continue to put downward pressure on the price of coins.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSudtdXXYmKVKU6eN5sD6qKUCSRA9GipMfGTjrh5sWgzvhJRuyCcc1jA2miDKUVi6uoQwY?format=match&mode=fit&width=640)

Institutional investors anticipate that the cryptocurrency market will continue to drop due to the deteriorating macroeconomic environment, with central banks around the world raising interest rates in response to rising inflation and a global recession predicted for 2023 at a 98% probability. This is leading to an outflow of capital from risky assets into US bonds and directly into the US dollar, with its index recently hitting a 20-year high.


StormGain Analytics Team (https://stormgain.com/)
(cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on October 05, 2022, 02:17:34 PM
CIS countries are working on cryptocurrency laws amid an influx of Russians

Russians who have left their country are finding it difficult to get hold of cash. Visa and Mastercard issued by Russian banks have not been accepted in other countries since March, and the MIR payment system is now not working in most places. Entering other countries with cash, on the other hand, involves customs declarations, significant conversion losses and the associated risks.

In this situation, cryptocurrencies, which are more convenient than fiat money in many ways, have seen high demand. Operators or individual issuers may be subject to restrictions, but not cryptocurrencies, which are mostly decentralised products. Even in China, which is not welcoming of cryptocurrency, its transaction ban relates only to financial institutions. Bitcoin, meanwhile, can be bought and sold by regular users without any obstacles.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSj1eTJyxKZrjU27JQgPa5tcET2iz22YkZ1MJ4TgsUPCnZZnXphm4Pnk3VSve8TPTPQJUn?format=match&mode=fit&width=640)

Many Russians brought funds in cryptocurrency to their new country, and shops recorded a three-fold increase in hardware wallet sales from last year. In the wake of the influx of cryptocurrencies to CIS countries, work has intensified to develop corresponding legislation.

On 28 September, Uzbekistan passed a law that requires licensed crypto exchanges to pay a monthly fee of 120 million soums ($11,000), cryptocurrency shops about $500, and self-employed miners $270. If no payment is made after two months, the licence is revoked. More than 50,000 Russians entered Uzbekistan in Q1 2022 alone, compared to 15,000 during the same period in 2021.

In Kazakhstan, which welcomed more than 100,000 Russians in September alone, the first cryptocurrency banking transaction was recently conducted. According to Talgat Dosanov, director of the Intebix exchange, the first cryptocurrency purchase in all of Eurasia was made. By the end of the year, Eurasian Bank will issue a crypto card that can be used to pay for goods in shops. Payments will be made in tenge, with coins being automatically converted on a cryptocurrency exchange.

And we are prepared to take this further. Kazakhstan will give full legal recognition to digital assets if demand persists while they continue testing security, - said Kazakhstan's President Tokayev at the Digital Bridge 2022 Forum.

Shops and banks are not yet ready to accept cryptocurrencies directly, but the emergence of digital money from the shadows opens up new opportunities for both exchangers and miners in p2p exchanges. In the future, crypto accounts may become available to non-residents, which would reduce fees and enable a number of restrictions to be bypassed.

For CIS countries, the recognition of crypto operations and mining will boost tax revenues. Just in Q1 2022, Kazakh miners paid an additional $1.5 million in taxes on electricity use.


StormGain Analytics Team (https://stormgain.com/)
(cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on October 06, 2022, 10:16:41 AM
Mining profitability trends toward zero, but miners ramp up production

On 2 October, Bitcoin's hashrate reached a record 272 EH/s. As miners continue to introduce new capacity, mining difficulty is increasing. With the coin's price low, that's leading to a drop in mining profitability. The cost of production is close to Bitcoin's current price, but that's not stopping miners.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSehgHuVSQwjp5BwJj5UvZ4JUcKb5xWCKAkgEKfb2jUXB7RBXDPLC6aLr3jQqbNFUroMoC?format=match&mode=fit&width=640)

Income per unit of hashing power is steadily declining, recently setting a new low of 4.06 BTC per exahash.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSu2a4CLB8EQC1QjwBR1gPEhkucT9yfV9i1skH5MyNnvvqNu65PDrXjDaAawPzpJJjBY38?format=match&mode=fit&width=640)

The trend is brought on both by the increase in difficulty due to the constant influx of miners and the improvement of equipment. However, the situation has recently worsened. In terms of US dollars, profitability dipped to a level not seen since October 2020, when Bitcoin was trading at $10,000. In other words, in just two years, mining difficulty and Bitcoin's hashrate have increased by 66%, while the income per hash power has halved.

Miners' pain is more clearly conveyed by the estimate of the cost of mining a coin. For the last two years, miners have been working with heightened margins, but now, profitability is close to the cost level. Glassnode used a regression model to evaluate it, arriving at a current cost of $18,300 per Bitcoin.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSjqGMkg9yNuH2mX37gHQ1crvAQcYi6L5Z4hMYbTTcaWVLauam7scYNuqw1AeqaiMSGiGN?format=match&mode=fit&width=640)

If mining was done primarily by crypto enthusiasts, they would turn off less efficient equipment in response to a drop in profitability. That, in turn, would lead to a drop in hashrate and network difficulty, but profitability would grow as the price of Bitcoin remained low.

However, public mining companies run the show, many of which borrowed money during the bull cycle and are now forced to sell their coin reserves at low prices to cover costs. If most of them were simply unprofitable in 2021, then this year, some are awaiting bankruptcy proceedings or takeovers.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSudtdXXYmKVKU6eN5sD6qKUCSRA9GipMfGTjrh5sWgzvhJRuyCcc1jA2miDKUVi6uoQwY?format=match&mode=fit&width=640)

On the contrary, mining companies that were prepared for market turbulence and have retained their capital are now either buying up competitors or ordering ASICs at ultra-low prices. That's how Cleanspark acquired about 3,000 ASICs over the summer and placed an order in September for another 10,000 Antminer S19j Pros, calling the current market conditions "unprecedented opportunities."

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSu4i9YiouLPSYgpECCegf48oorZNBJwhQxvNfdMwyqb6nF8gCRhDPCA2dshBha2zL4ss4?format=match&mode=fit&width=640)

The influx of large capital is leading to the fact that for every bankrupt company, two with more efficient equipment are taking its place. That's why difficulty is increasingly becoming detached from the coin's value, and the current crisis has not affected the network hashrate in any way. This is good news for Bitcoin because the growth of computing power is bringing about increased network security and stability.


StormGain analytics team (https://stormgain.com/)
(cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on October 07, 2022, 03:10:37 PM
Solana hits another network failure

On the night of 1 October, the 'Ethereum killer' was faced with yet another crash and complete stop to the network. Since this is the eighth time in a year, users have lashed out at Solana's developers.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSty2vrs6CkMtQVHdTcpnFLBDhSg2SghphKkUgDFFjioBVNGo1kiu9RMZrKR36qcnPgAHk?format=match&mode=fit&width=640)

The network problem occurred because of a misconfigured node. As a result, the developers were forced to restart the network from the last confirmed slot. It took more than six hours to find and fix the problem, and network operators spent several more hours restoring client services.

Justin Bons, the founder and CIO of Cyber Capital, noted that Solana crashes an average of once a month, which once again highlights the network's poor design and the developers' focus on raising capital instead of conducting in-depth work on the project.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSe56B7efFVKDMPAYiEg8a79Y4CvRTT1FmxgUmBG82GALLzVBMYpu6PkT3cTpiiUz76G6a?format=match&mode=fit&width=640)

Other users are wondering what the point of a high degree of decentralisation is if the blockchain is unstable. In terms of the number of validators, Solana is second only to Ethereum, and the Nakamoto Coefficient is 30.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSemFUX2HZECcGNkfrBvbUbus8LFYkhn5aAPXaWxdkZiMGcRVTKrZBaWuKBni1AsSL5ZZx?format=match&mode=fit&width=640)

Solana's supporters insist that the network is still in development, so such flaws can be forgiven. The coin's price didn't react to the failure this time, apparently, because some investors have already come to terms with this issue with the blockchain.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSdvAmZ9WCGPs2mnGPXPKy64HEkYvsA6PR1UmDr3u9LgefF246gEfXpFMcf763JZvAQXVG?format=match&mode=fit&width=640)

Another point in Solana's defence is the increase in network activity and the preference for the blockchain when it comes to minting low-cost NFTs. If Ethereum is valued for its stability — for example, one of the largest publishers, Yuga Labs, expressed its exclusive commitment to the network — others opt for Solana because of its low network costs.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSm4qg6723MqKu34rV2NjhHusdhRqsKZ6dFo5jcLMra38ieJ7AV5gFxTXFG5fqgXrNrwdG?format=match&mode=fit&width=640)

As such, the number of weekly transactions in the NFT sector continues to grow steadily, surpassing 842,000 in September, and the number of active users is close to the highs seen in February, now exceeding 153,000.

What do you think? Can a blind eye be turned to network downtime if it offers minimal costs? Tell us in the comments!


StormGain Analytics Team (https://stormgain.com/)
(cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on October 10, 2022, 11:05:20 AM
Ethereum (ETH) price prediction 2022-2030

Ethereum is the second-largest cryptocurrency after Bitcoin, with $20 billion in capital and $12 billion every day trading volume. It wouldn't be wrong to say that Ethereum is as well-known around the world as Bitcoin. Some people use their smart contracts and technologies to improve their business, while others use them for everyday transactions.

There is also a particular group of people who trade this cryptocurrency. To them, the Ethereum price prediction is the most interesting piece of information. That's why we're going to look at its history and future opportunities.

What is Ethereum (ETH)?

Ethereum is both a cryptocurrency and a decentralised environment that is transforming the IT industry. It was created by Vitalik Buterin and his team with one purpose: to give the world something better than Bitcoin.

Some brief information about Ethereum:

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Ethereum main information

ETH's main feature is smart contracts. They have changed the world of business because they allow you to get rid of intermediaries and provide complete control over fulfilling obligations. The Ethereum platform allows new altcoins and tokens to be launched on its blockchain. Moreover, it provides the possibility of creating decentralised applications that have become more popular nowadays.

Finally, it is one of the most popular cryptocurrencies among traders. It is listed on 95% of exchanges and has great volumes every day. To sum up, ETH can be considered BTC's main competitor.

Ethereum (ETH) price analysis

Ethereum didn't see any excitement for a long time. It was just considered another cryptocurrency on the market. Nevertheless, its price was bound to rise for many reasons, and that's just what happened.

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All-time Ethereum price charts

Why did it happen? Ethereum's transactions are significantly faster than Bitcoin's. Many people, therefore, migrated from the first-ever cryptocurrency. The Ethereum blockchain also provides an environment to create decentralised applications or dApps, so it became very intriguing to developers.

The rise in interest in this cryptocurrency meant that someone had to find new blocks and verify transactions. Hence, many miners directed their hash rate from BTC to ETH. They found many new blocks, which created mining difficulty and increased mining costs.

ETH's price history

The first-ever ETH tokens were created in 2014, but they were not listed on any exchange. However, during their implementation, the company got an income of $18 million. The first release of the Ethereum blockchain was in 2015. With its launch, ETH was added to some exchanges, but the price was below $1.

At the very beginning of 2016, it had its first growth. It was traded for $6 in the middle of February and even for $15 in the middle of March. The system was then hacked, and the company lost a third of all its capital. That is why it traded for $7.50 at the end of April 2016.

After that, the Ethereum team was able to return stolen money and upgrade their security systems. These measures had a positive effect on ETH's price, which rose to $19 on 16 June 2016. However, the next day, it went down to $12. We can conclude that this rise to $19 was just a pump.

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ETH price charts from its creation to the middle of 2016

After that, ETH held stable between $10 to $12. A hard fork took place in October 2016, which led to the emergence of Ethereum Classic. However, this situation didn't affect the price.

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ETH price changes

The first serious changes were made in 2017. First, in February, ETH was added to ETORO, which led to a $450 million increase in trading volume. In May, the value of ETH was $95. Within a month, it was trading for $400.

During what was once considered the biggest pump in cryptocurrency history, ETH's price rose to $1,352 per coin before crashing back down to $300. For over two years, the price never really made any attempt to regain old highs, and it trended downwards until 2020 into 2021. It's no news that 2021 was the acquired 'holy grail' of the crypto market, but it seems that Ethereum took that to another level. Like BTC, it not only took out its previous all-time high, it set new ones at over 200% more than its previous yearly high.

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ETH charts from the end of 2017 to now

ETH technical analysis

When the rally began on 3 March 2020, only a scant few imagined that Ethereum would reach the highest it did, and within such a short time to boot. After years of a continuous downtrend, Ethereum finally found support at around $110. It then rose steadily but slowly for about four months before making an impulsive leg into $480. Traders took profit, and the world settled down to endure, perhaps, another long stretch of consolidation that characteristically follows crypto price swings. 'Undisappointingly', Ethereum's price consolidated from September into the first few days of November, after which it exploded upwards again.

On 19 January 2021, Ethereum reached its all-time high at $1,422, rejecting sharply and forming a resistance. After a few weeks of testing and prodding that resistance, the price finally broke out. At this point, every real crypto stakeholder was paying rapt attention to the crypto market, and hopes were high in the air. Ethereum never disappointed, exploding through resistance after resistance, creating an extremely bullish market structure and finding higher prices to ravage.

All good things must come to an end, and thus, on 16 November 2021, Ethereum reached $4,891.70, its all-time highest price. ETH has consistently traded lower ever since, and any attempt it has made to recover higher has been met with strong bearish pressure.

Ethereum's price is currently at $1,345 (as of 5 October 2022), but analysts are afraid there’s still a lot of room to fall before hitting bottom.

For any real optimism for bulls, ETH's price needs to create a bullish structure on the daily timeframe and break above $3,524.

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1-day ETH technical analysis

Ethereum price prediction 2018

The beginning of 2018 saw a significant rise across all cryptocurrencies, which sparked many Ethereum price predictions. Some said that cryptocurrencies were very close to replacing fiat, while others considered the surge was just a pump.

Nevertheless, experienced traders know that price prediction begins with learning about history and different factors. While making forecasts, analysts used the following information:

- ETH is essential for smart contracts.
- ETH has no issues with the number of processed transactions.
- Many countries don't recognise ETH, so its regulation isn't as good as for BTC.
- More and more banks are focusing on ETH.
- ETH is the second-most popular crypto on exchanges.

In addition, it was necessary to include possible risks:

1. Despite fast growth, Ethereum was still liable to speculative activity.
2. The possibility of hacking.
3. The growing number of users may cause different technological problems.

Most issues could be resolved, so many experts predicted that Ethereum would rise by the end of 2018. The most positive forecast put ETH around $2,500; the most pessimistic saw ETH dropping by $1,500.

As we know today, they were all wrong. At the end of 2018, Ethereum's price was about $137. Moreover, in December 2018, it showed the worst value for the whole year at -$86.

Ethereum price prediction 2019

At the very beginning of 2019, ETH's price was $106. However, it experienced a fast rise, and in March, it traded for $140. Still, this wasn't the best scenario, especially considering that this asset cost almost $1,400 at the beginning of January 2018.

Although the first predictions were negative, experts analysed several factors:

- The protracted deep correction was going to end.
- ETH's price depends on BTC's, which tends to rise.
- Mining costs were on the rise.
- The following Constantinople update would improve the system.
- The functioning of smart contracts was improving.
- Buterin said that he was going to achieve a network bandwidth of 100,000 transactions/sec.

Most factors showed that Ethereum would tend to rise in the future, so the market expected it to close at $500 or more at the end of 2019. However, there were some negative factors:

- Ethereum had less capitalisation than Ripple.
- Many projects were evolving and getting closer to ETH (e.g., Tron, Dash, BCH, etc.).
- Mining became more difficult, so miners changed their priorities to other cryptocurrencies.

All these points showed that Ethereum could be very unstable. The worst ETH value prediction was that this currency could fall to $70, and people would lose interest. Nevertheless, such a scenario was almost impossible because ETH smart contracts provide many opportunities for the whole world.

Ethereum price prediction 2020

Ethereum opened around $131 and trended upward for most of January. By February, it peaked at $290 before retracing to form the yearly low in March at $90. After creating the low, ETH steadily traded high, and by the end of the year, its value had risen as high as $750.

Ethereum price prediction 2021

There weren't many predictions that ETH would grow as much as it did. The growth storm that hit the crypto market also hit Ethereum hard, as the currency was among the most profitable assets all year. It set a new all-time high record at $4,891 after increasing by more than 550% in less than a year.

Ethereum (ETH) price prediction for 2022, 2023, 2025 and 2030

The cryptocurrency market is very volatile, so it's not easy to provide accurate forecasts for many years. However, many analysts have some thoughts about popular cryptocurrencies like Ethereum. Here are some Ethereum price predictions from experts.

TradingBeasts Ethereum price prediction for 2022, 2023, 2025, and 2030

TradingBeasts' forecasts are neutral-bullish. TradingBeast predicts a relatively stable year ahead for Ethereum's price, and by the end of 2022, the token should have added about $200 more. Things begin to change in 2023 when they predict that ETH will fall to below $1,000 by the end of that year but will recover in 2024 to around $1,800.

WalletInvestor Ethereum price prediction for 2022, 2023, 2025 and 2030

WalletInvestor's technical analysis predicts that Ethereum is a great asset for short- to long-term investments. Their prediction suggests that ETH will rise to $2,269.24 in one year. This translates to almost 70% ROI in growth for those who get in now. Not too shabby. The gains keep coming as they also predict that, by 2027, the value of Ethereum will be five times its current value, hitting $6,071.49.

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WalletInvestor ETH Forecast

Long Forecast Ethereum price prediction for 2022, 2023, 2025 and 2030

Long Forecast's ETH predictions are also quite positive. They predict that ETH's price will fall below the $1,000 mark but will pick up again towards the closing months of 2024. It gets even more optimistic from there as they believe that Ethereum's price will likely reach above $2,000 by 2025.

DigitalCoinPrice Ethereum price prediction for 2022, 2023, 2025 and 2030

DigitalCoinPrice also provides a positive Ethereum price prediction for the next 10 years. They believe that the coin may close in 2022 at over $1,600 and that its maximum value in 2026 could be $5,088. However, DCP believes that there will be a short drop between 2025 and 2027.

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DCP ETH price prediction

Ethereum (ETH) overall future price predictions

Just as Bitcoin is the first-ever cryptocurrency, Ethereum is the first-ever project to create smart contracts. That is why this cryptocurrency probably won't crash in the future. Its positions are very strong today, and many people from the cryptocurrency community continue to believe in ETH.

Today, this system has many issues, so the value of Ethereum will be volatile in the short term. Everything will depend on the ETH team. If they solve the main issues, ETH will gain a foothold. If not, the cryptocurrency's value will dip into double digits.

How high can Ethereum go?

The cryptocurrency community knows that the Ethereum team is very talented, so they predict the best results. On forums, most people say that ETH will be the #1 platform for smart contracts.

However, some experts think that Ethereum smart contracts are losing their positions. Developers are out of ideas about improving the system without refusing the main principles of the ETH blockchain, and projects like Solana are hot on the heels of Ethereum. With time and continued support of other promising projects, Ethereum may eventually bow out into irrelevance.

However, its price doesn't just depend on the #DevelopmentTeam . There are many other factors, like news, Bitcoin trends, altcoin activity, and more. Ethereum is a very interdependent project, so there will be many obstacles.

How far can ETH go? It has all the chances of breaking through the $14,000 level, as predicted by WalletInvestor some months ago. While the market isn't bullish, the asset still has good support. If this situation stabilises, we may see it hit $4,000 again and even higher.

In the following years, ETH may hit a maximum of $6,000. The only way to reach higher is through a pump. However, as we know, the bigger the pump, the bigger the correction will be. So, we should be realistic and predict that ETH won't reach a stable $10,000 until at least 2025.

ETH price prediction today

Ethereum faced many problems varying from technical to fundamental, such as political news or the community's sentiment. That's why it's very hard for this cryptocurrency to break out of each resistance level.

However, two things are obvious: ETH won't crash, and it won't lose its #2 ranking on CoinMarketCap for quite some time, if ever. Therefore, its price won't fall too far in the near future. What do you think?
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on October 12, 2022, 03:00:39 PM
Has Bitcoin reached the bottom?

Bitcoin's consolidation around $20,000 has lasted 120 days, suggesting the formation of sustained support or a local bottom. When compared to the bearish market of 2018-2019, Glassnode sees repeating patterns in market participants' behaviour.

At the conclusion of the bearish trend in late August, after an active distribution of coins, a balancing phase came, And whales with wallets of 1,000 to 10,000 BTC have even switched to accumulation. The same trend in March of 2019 preceded a growth phase.

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Another positive note is the net outflow from exchanges to the tune of 15,700 BTC initiated by the whales. This is the highest level since June of this year. The increased outflow suggests that the cohort is anticipating the coin's price to rise and is unwilling to sell in the near future.

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However, when switching to time metrics, it becomes clear that too little time has passed for a real bottom to form. The Net Unrealised Profit/Loss (NUPL) indicator, the difference between realised profit or loss relative to market capitalisation, spent 301 days in the negative zone in 2014-2015, 134 days in 2018-2019 and only 88 days in the current phase.

The Long-Term Holder Supply in Loss indicator shows an even larger gap between cycles (periods in which over 30% of LTH supply is at a loss are highlighted separately). In previous cycles, the gap lasted between 6 and 10 months. This time, it was only about a month and a half.

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Meanwhile, the macroeconomic environment remains tense. In addition to an outflow of capital caused by tightening monetary policy, another world financial crisis can't be ruled out. As such, the cost of insurance against default for Deutsche Bank and Credit Suisse has approached levels last seen in 2008. The banks are key regional players whose bankruptcy could trigger a chain reaction similar to what Lehman Brothers did.

The intensity of passion in the financial sector is unlikely to bypass Bitcoin, which is trying to gain a foothold around $20,000.

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If we speak about the key support level to which Bitcoin could fall, $15,800 is a psychologically significant level. According to Glassnode's analysis, this is the coin's realised price for whales (>1,000 BTC) who have traded since 2017.


StormGain Analytical Group (https://stormgain.com/)
(cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on October 13, 2022, 03:57:07 PM
Who's behind Bitcoin's skyrocketing hashrate?

Bitcoin's total processing capacity jumped by 13.5% to 254.8 EH/s last week, and it's continuing to grow. In other words, new equipment is being connected at a rapid pace, despite the coin's relatively low price and the general decline in mining profitability.

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Over 20% of the hashrate, or more than 54 EH/s, is provided by public miners, mainly US companies whose shares are traded on the stock market. Despite their disastrous situation (in terms of profitability), they continue to draw capital, acquire competitors and increase production capacity. Arcane Research estimates that public miners will increase capacity by 50% to 80.7 EH/s in the last three months of 2022.

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The yield per hashrate of capacity has already hit a low, falling to 4.06 BTC per exahash, and Bitcoin is close to the cost of production, which Glassnode now estimates to be $18,300.

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Combined with the decline in investment inflows, this leads to poor financial results for miners. For example, Core Scientific, which has the largest capacity, experienced a loss of $1.3 billion and was forced to sell 12,000 BTC in the summer, cutting reserves by 86%.

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Stronghold Digital Mining was even less fortunate, having to say goodbye to the 26,000 ASICs it bought as collateral, while Compute North declared bankruptcy.

However, some players' weakness is encouraging others to act. Among publicly traded mining companies, Cleanspark stands out. It has plans to become a leader in terms of hashrate by the end of 2023, increasing its capacity from 1 EH/s in mid-2021 to 22.4 EH/s by the end of 2023. The company is doing this by buying ASICs at unprecedented discounts and swallowing up competitors. Its latest acquisition was Mawson in Georgia, which resulted in its total capacity reaching 4.7 EH/s.

Despite the half-billion-dollar losses, Riot Blockchain has an ambitious goal to triple its capacity to 12.5 EH/s in six months. Medium-sized players are also trying to keep up. Iris Energy intends to raise $100 million to acquire a struggling mining company, for example.

Declining profitability isn't putting a stop to competition between publicly traded mining companies. The opportunity to increase market share by buying weaker players and ASICs at low prices only fuels the excitement. The series of acquisitions will likely continue, with Bitcoin's hash rate approaching 300 EH/s by the end of the year.


StormGain Analytics Team (https://stormgain.com/)
(a cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on October 14, 2022, 01:32:56 PM
87% of Tether addresses have been blocked in the last two years

Despite being registered offshore in the British Virgin Islands, Tether Limited has been highly loyal to major financial regulators for the past two years. For this reason, addresses are blocked both at the request of intelligence services and when Tether detects activity it considers suspicious.

Whale Alert revealed that three addresses containing a total of $8.2 million were frozen on 10 October. Overall, 72 addresses have been blocked in the past 13 days. By comparison, half as many were blocked in all of 2019.

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795 addresses are currently blocked. They contain a total of $444 million.

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For users, this means that no transactions can be made, and in the event of a complaint, disputes are dealt with exclusively by the court in the company's place of registration.

Under the user agreement, Tether has the discretion to impose sanctions on those who violate the rules. A complete list of prohibited activities can be found on the company's website. In short, any violations of regional or international law (including sanctions of any kind) and its own regulations will be dealt with.

For its part, Tether makes no promises of any future exchanges and warns of the lack of reserve insurance and the risk of an unexpected drop in its value, with all the consequences that entails.

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Tether's efforts to block addresses come from a desire to retain leadership and mitigate claims by financial regulators for a number of faults. USDC from Circle, a company registered in the US that exclusively uses fiat and US Treasury bonds as its reserve, is challenging the stablecoin market. Tether, on the other hand, still has commercial liabilities in its assets (printing and issuing USDT in exchange for debt receipts), and the company is under legal investigation for pumping Bitcoin.

It's accused of inflating Bitcoin's price with Bitfinex in 2017 when the cryptocurrency rose from $2,300 to $19,000, and USDT's capitalisation jumped from $100 million to $2.2 billion. The plaintiffs are asking the court to prove the validity of printing such an amount of stablecoins.

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On 20 September, the court demanded financial statements from the company on the movement of funds, including any cryptocurrency transactions and transfers to third parties. The lawsuit, which began back in 2019, intensified before the passage of a US law on stablecoin issuers. Things are taking a bad turn for Tether, where loyalty alone may not be enough to maintain good relations with regulators.


StormGain Analytics Team (https://stormgain.com/)
(a cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on October 18, 2022, 12:15:45 PM
National currencies' declines raise interest in Bitcoin

For over 120 days, Bitcoin has consolidated around $20,000, despite the US Dollar Index's 7% increase and weakness exhibited by most national currencies. The cryptocurrency's persistence has led to increased fiat-to-Bitcoin exchanges in recent months.

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Q3 results show Bitcoin experiencing nominal growth versus the US dollar, while the British pound fell by 8.2%, the Australian dollar by 5.6%, the Japanese yen by 6.0%, the Turkish lira by 9.8% and the Euro by 6.6%. This divergence caused a surge of interest in the cryptocurrency. As a result, in September, the Bitcoin/GBP pair more than doubled in trading volume, and the Bitcoin/AUD pair increased by 65%. BTC per month.

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After a summer stagnation, the Chicago Mercantile Exchange (CME) saw an increase in interest in Bitcoin futures, rising by 53.6%, or 279,852 more contracts versus August, which is a record for the last 18 months.

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Interest in Bitcoin is growing amidst ongoing inflation across the global economy and the expected rate hike by the US Federal Reserve in early November. The central bank's current efforts aren't producing meaningful results, as consumer price growth in the country remains strong (8.2% in September), and core inflation rose by 6.6% to its highest level since 1982.

This year, the Fed's key interest rate rose from 0.25% to 3.25%, bringing up rates on mortgages, consumer loans and business loans in its wake. Treasury bonds have also seen their yield rise. All this leads to investors wanting to sit out the storm with reliable instruments, even if they don't have the highest yield. An outflow of capital is being seen from high-risk assets to bonds, as well as from various countries to the United States.

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Against this background, the stability and relatively low cost of Bitcoin look increasingly more attractive every day. If Bitcoin can hold up against the Fed's November rate hike, it will spark a new wave of interest in the digital asset.


StormGain Analytics Team (https://stormgain.com/)
(a cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on October 19, 2022, 12:17:35 PM
Censored Ethereum blocks reach 52%

In Satoshi Nakamoto's article, cryptocurrency assumes independence from financial institutions and regulators, achieved by decentralisation and the absence of intermediaries in transactions. Ethereum was created this way, but the network's features and the move to PoS led to increased centralisation, and the proportion of censored transactions (which comply with US regulators' requirements) reached 52%.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSg5W8bKU6TdF4sFPBDNeNmjboUM7EqUGRNss7piSVcg7DpaHVJ4ezLwahkqzQwxp59Dzn?format=match&mode=fit&width=640)

Here's a simple explanation of the problem. Decentralisation involves maintaining the network on multiple computers worldwide, where each miner/validator has the same weight and is guided solely by matching technical parameters when assembling transactions into blocks. It doesn't matter who sends the funds or to whom. The main thing is that everything works smoothly.

Lately, Ethereum has been moving further away from these principles. The first reason is the use of arbitrage bots. To maximise blockchain assembly (MEV) profits, bots look for transactions with maximum rewards and merge them into Flashbots and similar services, where validators pick them up (read more on how it works on the Bitmex blog).

Of the five largest services, only Manifold and bloXroute don't censor transactions. In other words, if the validator uses Flashbots, it won't be able to process a transaction with sanctioned addresses to/from Tornado Cash, for example. As a result, Ethereum's censorship rate (or the proportion of transactions compliant with US Treasury regulations) has reached 52%.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSm4exu8Ce36qLDvrvtQEzPQxa9VoVjhM1tgX1iAa3sJsUUSiqhEe1jLRKANQXN6LBgS3Q?format=match&mode=fit&width=640)

The second problem with Ethereum is the consolidation of block building in the hands of the biggest players. For the average crypto-enthusiast, even at current prices, staking a block of 32 ETH (~$42k) is an expensive endeavour. As a result, many investors use pooling services such as Lido Finance to generate passive income.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSmFzq8SpVBPiPdvoeWuEmXC36rPfZZFBuG8ZpqVtF9VpoKXHnng5bunNZ1H9SXsbTC8Fg?format=match&mode=fit&width=640)

Because of this, the top five validators process 64% of the network's transactions. For financial regulators, this concentration of power makes it easier to monitor and censor. The Securities and Exchange Commission (SEC) has already targeted blockchain technology, designating coins to be similar to securities.

As for Ethereum specifically, however, consolidation could result in an unwanted hardfork in the future when the largest players support a branch that benefits them. This makes talking about the decentralised nature of cryptocurrency all the more difficult.


StormGain Analytics Team (https://stormgain.com/)
(a cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on October 20, 2022, 03:22:25 PM
Bitcoin: the quiet before the storm

Bitcoin is rightly considered a highly volatile instrument, and, in most cases, rare periods of prolonged consolidation are followed by significant price movements. Its price has been fluctuating around $20,000 for four months, which suggests increased volatility in the near future.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSsdUV3J67wsGe4n7cVAEjHSwvWW5C1g8BUr83gMzM2so88r5gQG9HxUjncAgucKGJ93o4?format=match&mode=fit&width=640)

The chart below highlights periods with volatility below 28%. Coupled with the ongoing bearish trend and more than a week of stagnation, this marks imminent strong movement and a subsequent market reversal. At this stage, the pattern is just beginning to form, and the formation of a bear trap (a sharp drop before the bull run) can't be ruled out.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSuijaeP7JGUNcVTwNqsUoRyAYnLioxZePNFBHHbeXhVnSmXNKEuba7TfuPjMUTioYFnzA?format=match&mode=fit&width=640)

The approach to the price bottom is also indicated by the level of extreme stress among long-term holders.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSuk3YuaUWjHHbxmoDHBnEwmsR9v16P4MnZDBKT8ZN9uXwHw1115U4HFypcnAfetnw27an?format=match&mode=fit&width=640)

At the same time, a number of indicators are showing an increased interest in Bitcoin. Thus, open interest in Bitcoin futures increased by 80% after the Terra project collapsed, reaching an all-time high of 633,000 BTC.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSfQnHnvYMpjE4n29aqcUvHKtJvULnh5cBWNDSA9qqgVCE6ih4h92LsDY1PqWptmzoNoan?format=match&mode=fit&width=640)

The use of leverage relative to Bitcoin reserves on crypto exchanges is also growing. This indicates both increased speculative demand (to maximise profit during low volatility, traders resort to increasing leverage) and a narrowing of liquidity. In the event of a strong price movement, there will be a wave of liquidations that will lead to even more volatility.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSukMEG5vCJSMAvHmrKwsmBXmeFLNyS3RxbdNxkn5j7HDTGcwtqWXCG2pySAKMHDxS65KC?format=match&mode=fit&width=640)

The US Federal Reserve has raised its key interest rate by 0.75% at its last three meetings. The regulator's next meeting will take place in 15 days, where there is a 96.5% probability that the interest rate will be raised by another 0.75%. However, the growing risk of a recession, brought on by monetary tightening, may cool the regulator's ardour.

Even a small retreat and a 0.5% rate hike could cause premature optimism in the markets, as investors will try to time the Fed's reversal in the coming year. At the same time, the regulator's retreat wouldn't necessarily mean that a favourable investment environment has arrived since the macroeconomic situation continues to deteriorate.


StormGain Analytics Team (https://stormgain.com/)
(a cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on October 21, 2022, 04:33:59 PM
Bitcoin power consumption increased by 41% in one year

Despite the crypto market's capitalisation falling three times from its 2021-high and the appearance of energy-efficient ASICs, Bitcoin miners' power consumption has jumped 41% to 266 TWh in the past 12 months, according to estimates from the Bitcoin Mining Council (BMC). This represents 0.16% of the world's total electricity production and 0.10% of the world's hydrocarbon emissions.

Thanks to the introduction of new ASICs, the energy efficiency of mining has increased by 23% in one year and by 5,814% in the last eight years.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYShgRbfkDw3N8YXBfxFsAD1bKPfuJNZdqWGnuHV1X9gxYHehtKqusbqENm5sZonCD7HZB4?format=match&mode=fit&width=640)

At the same time, the network's hashrate skyrocketed by 73% over the year and continues to grow. Last week, the one-off correction of 13.6% was the biggest in 2022. In other words, new equipment is being put into use at a drastic pace. And while some mining companies are struggling to make ends meet, others are buying up the latest ASICs at bargain prices (read more in "Who's behind Bitcoin's skyrocketing hashrate?").

Bitcoin isn't the only cryptocurrency that uses miners' work, but it does account for 99% of all calculations performed. The authors of the BMC report provided the following visual comparison:

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSuj3mzCDrtkgEvc6MfcG5Wh6fe5Fv2exd7Qi8quVeKie7H6nK5iRzb78JFmszxnfBMcYv?format=match&mode=fit&width=640)

Since the crypto economy's decline, some projects' bankruptcies, energy shortages in certain regions and the pending global recession haven't had a negative impact on Bitcoin mining, the risk of regulatory pressure is increasing. For example, some countries legalise crypto mining and impose an additional tax on the electricity used, while others simply ban it.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSkRZMKGRWVcod3pE5rjUijmzwrt5jUXAkKn7qX1Mb8i2tdGqLt673bUhpfeNgVVfK7azA?format=match&mode=fit&width=640)

Even Greenpeace has launched a campaign against Bitcoin, calling to follow Ethereum and to "change the code, not the climate". The Blockchain Observatory (EUBOF), on the other hand, recommends that EU countries adopt measures to reduce power consumption by miners very soon.

If we compare the different industries in terms of energy costs, Bitcoin mining would fall between computer games and gold mining. When compared to the traditional financial sector, it uses 20 times fewer resources.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYShd1sztJAhp5M6wqNqQaWFnopbhKuaHR4TjdAHfiiWgxrLD33n87LgBcHFFHDfevum3jU?format=match&mode=fit&width=640)

In terms of energy consumption by various countries, mining has already overtaken Australia, Spain and Turkey, which seems rather alarming. But the world is still losing a large amount of energy that could completely cover the needs of miners. The University of Cambridge estimates the potential energy from worldwide flaring of associated petroleum gas at 688 TWh, which is 2.5 times the current demand of the crypto network.


StormGain Analytics Team (https://stormgain.com/)
(a cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on October 24, 2022, 10:32:13 AM
Bloomberg analyst: Bitcoin's fair value is at $70,000

Inflation in Europe and the US is hitting multi-year records, and stock markets are falling under the pressure of regulators' monetary policy. In a changing environment, analytical agencies are reviewing their approach to valuing basic assets. Bitcoin has been severely undervalued on a number of parameters.

Inflation in the US exceeds 8%, and the spread across Europe ranges from 6% to 24%. Both energy and food costs are rising, and increasing bread production expenses have already led to the closure of 1 in 10 bakeries in Belgium, according to the NYT.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSejSZm4R89YRbzrp5LTMNzK7SkJjrEcUPLNpPqJw9D4ASQ1uBocBr815DRRLudKMxYVd8?format=match&mode=fit&width=640)

In an attempt to control inflation, regulators are raising interest rates, making borrowing more expensive for households and businesses, which naturally slows down the economy. The EUR/USD pair is forecasted to remain at $0.86 if negative trends continue.

The British pound lost 8.2% against the US dollar in Q3 as the UK Treasury proposed tax cuts to support the economy instead of a planned increase. It's not the best solution with a budget deficit and rising national debt. The MPs immediately attacked Prime Minister Liz Truss, who had been in office for just over a month before she resigned on Thursday, 20 October. The pound is almost certain to face further shocks.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSkRZMKGRWVcod3pE5rjUijmzwrt5jUXAkKn7qX1Mb8i2tdGqLt673bUhpfeNgVVYmakqt?format=match&mode=fit&width=640)

Bitcoin acts as a counterweight to fiat money. More of it can't be printed to cover government spending, its maximum issuance is limited to 21 million coins, and the reward for creating a block is halved every four years. By comparison, a third of the current volume of English pounds (the M2 aggregate) has been printed over the past three years, with GDP growing by only 13% between 2019 and 2021.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSe1zU2oFueuQx1FogKDUhjNYaF6QAX5UmGeWCRgeLoYJTuPUJQyc7hAVE6Vfsru5usncN?format=match&mode=fit&width=640)

For Bitcoin, one of the key metrics is total processing power (hashrate), which continues to grow despite the crisis in the crypto industry (see this article (https://stormgain.com/blog/who-is-behind-the-record-growth-of-bitcoin-hashrate) for why). The higher the hashrate is, the more reliable the network is.

Bloomberg Intelligence senior commodities analyst Mike McGlone says Bitcoin is severely oversold, as it should be priced at $70,000 when converted to hashrate capacity. The current level of $20,000 is similar to the cryptocurrency's fall in Q1 2020, when the coin was worth $5,000.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYStJxuG3HVUtafPGx2XBE4vRHz1hF14gn1NsZYvazNiC5DNF7GmHHnsCrRar81duzjJL94?format=match&mode=fit&width=640)

At least a doubling of the price is predicted by Commodity Futures Trading Commission (CFTC) chairman Rostin Behnam when the regulation is passed to him. Just such a proposal has already been submitted for consideration.

However, the above estimates are somewhat ahead of the curve, as the current Fed policy makes the US dollar the financial vacuum cleaner. Bank of America surveyed 371 investment fund managers and found that the US currency was the most popular bet for 64% of respondents in October.


StormGain Analytical Team (https://stormgain.com/)
(a cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on October 25, 2022, 11:45:08 AM
AXS falls on news of unlocking

The crypto crisis has already led to a drop of the AXS token from its November ATH of $165 to yesterday's $10. The news of the unlocking of early tokens has left investors in dismay.

AXS is the token of the popular online game Axie Infinity which players can use to earn money. Axie creatures can be bought and sold in the in-game exchange using NFTs. Last year, the game became the most popular in the crypto space and is the number 1 in terms of sales and player numbers.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSsa5pmWeT4srpf8AhCTZYye38Cm414rX9vSJwvMuednrcxUrr8EF9gFiCz3s7s4Xp6YuC?format=match&mode=fit&width=640)

As the interest of many players in the game was sparked by the opportunity to earn and invest, the downturn in the crypto industry has led to a significant drop in key metrics such as sales. Back in February, daily sales reached $427m with 641,000 deals, while in recent days sales have dropped below $2m with less than 100,000 deals.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSgDbSjsijk9HjR59DTPCcRPC7mmsWJfm739d56NzesWBwzfoR8fU6zxtHbGKyAwyacS2a?format=match&mode=fit&width=640)

Next week, 21.5 million tokens will be unlocked with a value of $225 million, or 8% of the total tokens that developers, advisers and early investors received in 2020. According to official figures, Axie Infinity sold 10.5 million tokens and raised $864,000 in a private token sale. In other words, investors paid 8 cents for each token, more than 100 times the current price.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSmDitExpv4gUvcLmpikWQ5HZF1VjPmVS7ZeLtsv2Wt1sR6PjmqZ7r8cCdoYVgoffw8Waa?format=match&mode=fit&width=640)

Of the $225m, $20m will be available to investors, $25m to advisers and $57m to in-house developers. The remaining 11 million tokens will be used for future payments.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSj62pMxVJNcS7TL33xJLgwy7ZA5FxYqHcf532TJ4mLEdEb714Zgu9Ef15gXQrv5FxbHrE?format=match&mode=fit&width=640)

About half of the funds ($102m) may be sold immediately on the unlock date, which would put considerable downward pressure on the price with a total capitalisation of only $878m. Anticipating the possible negative consequences, some investors are already selling off their AXS tokens, driving the price down to new lows.


StormGain Analytics Team (https://stormgain.com/)
(a cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on October 26, 2022, 11:19:57 AM
A fake Nakamato network has been attacked by an unknown miner

When Bitcoin Cash underwent a hardfork at the end of 2018, the Bitcoin SV (Satoshi Vision) network appeared, headed by Craig Wright. To promote his pet project, Wright presented himself as the creator of Bitcoin and worked with his partner Calvin Ayre to pump the token. However, the claims of the crypto community and subsequent lawsuits sealed the token's fate.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSgqiAJgzsYVEUczW8Y5EucuiwNVh7D2JYhAQe6vTtkWzujRW2DExeiMXDr2N4PAKJqhSE?format=match&mode=fit&width=640)

In 2015, Wired magazine published an investigation that found that Craig Wright was possibly hiding behind the personality of Satoshi Nakamoto. The evidence provided, however, was circumstantial. Wright was using the e-mail address [email protected] instead of [email protected] and made one of the first entries about the cryptocurrency's launch on 10 January 2009 (taking into account the difference in time zones, the publication took place on the same day).

In 2016, Wright came out under his own name with an announcement that he was Nakamoto, presenting a few unconvincing arguments to support his claim. In November 2017, he headed the Bitcoin Cash hardfork that resulted in the appearance of Bitcoin SV. According to him, Bitcoin and Bitcoin Cash had moved away from the key idea behind them, and only BSV reflected the true approach.

As a result of the pump with his partner, the billionaire Calvin Ayre, who specialised in gambling, the pair were able to drive BSV's price up threefold in half a year to $240. In 2022, Wright sued Magnus Granath, known as Hodlonaut and who launched the #CraigWrightIsAFraud movement on social media, for defamation.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSrGGqiLZKUDkc1a31yp1HVCBex1FdcEDGXUPphk36vnEoT7jzysJv8zYmu5PsBYk9xVyG?format=match&mode=fit&width=640)

Last week, a court ruled in Granath's favour, finding that his use of the words "scammer" and "fraud" against Craig Wright was fair. Wright has not provided any substantive evidence to back his claim of being associated with the pseudonym Satoshi Nakamoto. In addition, documents that were supposed to weigh in Wright's favour were found to be fake.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSkT2kJrxvE1ZQJiWmQmGmjCu1qCA1HgxRz76BDSjRKeAHQLhFB3knQgtvXVJsxipgSpFg?format=match&mode=fit&width=640)

In September, an unknown miner (shown on the chart in black) captured 60% to 80% of the hashrate for assembling empty blocks in the BSV network. On average, a block includes about 30,000 transactions. As a result, the sabotage caused a significant delay in transactions.

The Bitcoin Association that promotes BSV called this approach dishonest and urged the miner to get in touch immediately. If the miner doesn't, the not-for-profit organisation promises to send an appeal to law enforcement agencies.

According to unconfirmed reports, Craig Wright's associate Calvin Ayre, whom Wright also misled about his identity, may be behind the attack on BSV.


StormGain Analytics Team (https://stormgain.com/)
(a cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on October 27, 2022, 10:17:43 AM
Opposing the whales, shrimps buy up Bitcoin's dip

October risks being the quietest month in Bitcoin history, but behind the external calm, there are two opposing forces. Whales (>1,000 BTC) continue to get rid of coins in anticipation of further worsening macroeconomic conditions, while shrimps (<1 BTC) are building up their reserves.

Stagnation is seen in the low network activity, and the rate of new addresses is at a level last seen in mid-2017. The total volume of transfers expressed in US dollars shows a similar picture, dropping to $19.2 billion per day.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSjoAgMFSwEUZ1z6LjHSLhpg8SpaT36nj9SzMbdCZ6Wsg24ehQxkb1TnGzbaGzx5DE1m7C?format=match&mode=fit&width=640)

Bitcoin's uncharacteristic calm came after a number of crypto projects went bankrupt and crypto tourists fled, leading to the price consolidating around the $20,000 level.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSrFJTpkCjXXDzkBXhEt8UcGgeUNBsJyp2Ez5NHkwTMfRCA1YeB78HDCYuTCkVLfcSXKpS?format=match&mode=fit&width=640)

But participants' assessments of the level vary. For example, whales reduced their reserves by 3.3% to 5.61 million BTC during the consolidation period. Public miners, whose current holdings are estimated to be at least 78,000 BTC, stand out in this group. BTC per month. During the summer months, mining companies sold more coins than they mined due to unbalanced financial policies and sharply reduced cash flow. Yields per capacity hashrate continue to update all-time low levels.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSgFfd91wSv9AtPnysbZgY9CpzSiRdopj3vCXkeLr59GJdPLzmZq6vPoo62FkfW7e8W7GJ?format=match&mode=fit&width=640)

On the other hand, shrimps are enthusiastic and trying to find the bottom of Bitcoin. Between June and October, they increased their reserves from 3.71 million BTC to 3.77 million BTC.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSsVWembA61kJ7gpN4rHWXPdg9NW3vvie7VEvswSpkFj2cX84XJW9HCZMTiLVXbDz8RpqU?format=match&mode=fit&width=640)

Another positive factor for the price is the continued outflow of coins from cryptocurrency exchanges to cold wallets. This usually indicates a reluctance of participants to part with Bitcoin and a willingness to wait out the storm in a safe place. The total volume of coins on exchanges has fallen to January 2018 levels, with 123,500 BTC withdrawn in the current month alone. BTC per month.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSdvC8FZ5uRiwAugfUwPFsW5mW6t6n2WGTDrVHxMKS2UfBbn1KBktJvNmCQksJzPNAniT8?format=match&mode=fit&width=640)

However, one should bear in mind that the current environment isn't favourable for investing in risky assets. With a 97.2% probability, CME's FedWatch tool predicts another 0.75% Fed interest rate hike. The regulator's next meeting is scheduled for 2 November.

A tighter monetary policy will increase financial outflows in favour of US Treasury bonds and the US dollar. For whales, this is another reason to continue offloading their accumulated BTC in anticipation of another wave of Bitcoin declines.


StormGain Analytics Team (https://stormgain.com/)
(a cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on October 28, 2022, 01:46:17 PM
Fed losses will lead to Bitcoin's growth

Distortions in monetary policy are leading to increased uncertainty. US Treasury Secretary Janet Yellen is warning of risks to financial stability, while analysts at Bank of America are calling Bitcoin a potential saviour from inflation.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSj2debcMtTFw8AKsuNpXW6KdLMsF8RSGFnMfzmJfqQokSp5Kb4WYKpuiHSDeuP3shXY5t?format=match&mode=fit&width=640)

How everything started

The Federal Reserve is the biggest power in the global financial market, and the US dollar accounts for 59% of the volume of international reserves. The Fed's policy predetermines the actions of other financial regulators and sets the main flows for international capital.

During the 2008 global financial crisis (which began with the US mortgage crisis), the Fed more than doubled its balance to support the economy, buying up assets and injecting money into the economy. During the last growth period between 2010 and 2020, the regulator was supposed to offload this balance but didn't do so.

With the arrival of the COVID-19 pandemic in 2020, the Fed has again more than doubled its balance sheet, and the dollar money supply (M2) has grown by 35% in two and a half years.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYStvai6hYcqAbgPqA1iwza2BZWxBuSyPxZQosxrfB16hjLke2a5cXyas7GxZgAyEEcyhGJ?format=match&mode=fit&width=640)

Consequences

The subsequent inflation was not only a natural phenomenon but an inevitable one, too, given the extreme monetary injections. To stop it, the Fed is raising interest rates, making borrowing money more expensive. As a result, this year, the Fed has accumulated a debt with the US Treasury of $5.3 billion.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYStPqcM3GEr44JQBogZEDp4EihfCNaK92xUEeaccDi8bqK2gbB3QwGBFq67XYVMPJwGFjL?format=match&mode=fit&width=640)

The US national debt is $31 trillion, and servicing it is becoming more expensive. In the period from October 2021 through May 2022 alone, interest payments rose by 30% to $311 billion. In the next 10 years, the payments are forecast to reach $8.1 trillion.

A series of analysts justifiably assume the Fed will be forced to loosen its grip ahead of time and eschew further hiking interest rates at the beginning of next year. If by this time, inflation doesn't reach the target zone between 2.0-2.5% (something which is unlikely), the regulator will have a really hard time.

Change in sentiment

If the above scenario plays out, a number of analysts, including those at Bank of America, expect the dollar to weaken as interest in deflationary assets grows. In this regard, they note Bitcoin's growing correlation with gold:

Bitcoin is a fixed-supply asset that may eventually become an inflation hedge.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSiDC8WPeW7EZFfMV9G3nHGpgq3nENpet88W4smHpuGGizUzta5EojNkmq9EuPonDwgLRL?format=match&mode=fit&width=640)

The Fed is currently trying to tame inflation by quickly raising its key interest rate. This has already led to an increase in the regulator's losses, which will need to be repaid in the future. The interest rate hike is also leading to increased payments on government debt, an economic slowdown, the decreased competitiveness of American goods in the international market and a number of other negative factors. This could force the Fed to loosen its grip sooner than it wants, but then inflation would strengthen its position and Bitcoin would return to growth.


StormGain Analytics Team (https://stormgain.com/)
(a cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on October 31, 2022, 10:20:10 AM
Let it Uptober?

Bitcoin's rise above $20,000 yesterday was a surprise for the bears: $552 million worth of short positions were liquidated during the day. In total, sellers' losses for all instruments amounted to $1.13 billion.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSenDn8R8gtr2e3bjQsDxDbnRkzXUek3UxumA26ssoTmMWvEFbMgoaWUAkWF6bw3XF5Zve?format=match&mode=fit&width=640)

The latest rise should cheer up investors because the stress level measured in coins at a loss is close to all-time highs. According to Glassnode, over 8 million BTC were bought at higher prices (based on the 30-day moving average).

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSrrdQGpqH5688xBhQswtKV1W1dBJxKCfYGteXoULuEAtkKxRHCbrcx5spaG78dDTfAgJA?format=match&mode=fit&width=640)

Historically, October has been a favourable time for Bitcoin, with seven out of nine years showing gains of between 10% and 61%. And with the latest increase, there's every chance of this October once again securing the title of Uptober.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSceML3uhNXrfYm3ccHsZFpPFfd6EaktZAzyUditZuLH6tcYUDML7Cb3G9MipfoGt6W2kE?format=match&mode=fit&width=640)

Positive factors for Bitcoin include both intra-network and macroeconomic ones. The former includes the continued outflow of coins from cryptocurrency exchanges to cold wallets, resulting in the aggregate balance falling to January 2018 levels.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSrxTwGxexuCrxnRokZGdLcDKE1KqubrDqZ9buejXMvRaZsxXCpFwpRV66j2Cx8xunAfPU?format=match&mode=fit&width=640)

Macroeconomic factors include the devaluation of several national currencies and tighter financial supervision. For instance, after Xi Jinping's re-election to a third term, the yuan and the Chinese stock market collapsed, and interest in cryptocurrency is trending again.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYScaw2hhbe5cWR12BzRFZM1X19B1mcNpLEpSLH7WYDPZZjXs39ifkoQPKZu9cJcvfeQJML?format=match&mode=fit&width=640)

China had previously pursued a tight financial policy aimed at reducing capital outflows. For example, citizens can't withdraw more than 100,000 CNY ($13,800) from their account or card abroad in a one-year period. Transfers from China overseas are even more restricted, and amounts of $10,000 or more are likely to be blocked by banks with a requirement to provide additional transaction details.

Xi Jinping's re-election hints at the further tightening of financial supervision in a country with a total of $55 trillion in deposits. This is more than double the US GDP in 2021 ($23 trillion).


StormGain Analytics Team (https://stormgain.com/)
(a cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on November 02, 2022, 09:00:53 AM
The biggest mining company is on the verge of bankruptcy

The cryptocurrency market's fall and the continuing 'arms race' among public mining companies are leading to the restructuring of the crypto mining market. Leading company Core Scientific (CORE) sold off its entire Bitcoin holdings and is warning investors of the risk of bankruptcy. After the news emerged, its stock fell by 80%.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSmDk8HBwxJZiXArCJ8byL17XWEXjpAV4C6fFdynPFncJpeQhV6ptEgiAV21CdCz3Kx2oY?format=match&mode=fit&width=640)

Core Scientific has the largest hashrate among public companies, and, until recently, it's been announcing plans to increase its capacity. The equipment it uses allows it to mine over 1000 BTC per month.

Before the crypto market's crash in May, CORE ranked second among miners in terms of BTC reserves, naming hodling as its main strategy. If it had continued to hold coins, the company would have become the leader in this indicator back in June.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSeoMBrM3Wv9yyHzvT1SZiSgn7s614TQEcm9XoLkBVu8NQSjpbKbAd5GDBBa6HVsoARNke?format=match&mode=fit&width=640)

However, all factors combined led the miner to the edge of bankruptcy. This was primarily influenced by excessive optimism in assessments of the prospects for 2022 and the absorption of smaller players along with their debts. For instance, in July 2021, CORE acquired Blockcap for $1.2 billion, although the company had a modest net asset value of $142 million. As a result, the company became the market leader in another indicator: cumulative loss.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSudtdXXYmKVKU6eN5sD6qKUCSRA9GipMfGTjrh5sWgzvhJRuyCcc1jA2miDKUVhzNGaoG?format=match&mode=fit&width=640)

In an attempt to tie up loose ends, CORE has sold off its entire Bitcoin stock in the past four months, a total of 15,000 BTC per month. It currently has 24 BTC in its balance. It also reached an agreement with B. Riley regarding the right to sell $100 million worth of stock. However, all of these actions didn't have a meaningful impact on the situation. On 25 October, the company filed form 8-K with the SEC.

CORE is advising the regulator that, starting in October, it will freeze payments on obligations and that it's at risk of defaulting on convertible bonds maturing in 2025. The company is also warning of the expectation that existing cash resources will run out by the end of 2022 or sooner and expects bankruptcy proceedings among the potential consequences.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSiz2x9bFyjx8qnknD7PCxbcizuuXCHxqXHiwNktK3kxVK4o5FyTdrZTNk1g3bW3FiQ2LE?format=match&mode=fit&width=640)

The ruin of the largest public miner will not have a negative impact on the cryptocurrency market. It's highly probable that CORE will be absorbed by a more successful player that's to top the ratings. In an extreme scenario, its equipment will go under the hammer and be deployed under a new banner.


StormGain Analytics Team (https://stormgain.com/)
(a cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on November 03, 2022, 09:17:03 AM
Bitcoin: premature optimism

The cryptocurrency market has seen a resurgence, leading to significant losses among bears in recent months. However, the leading investment force institutional investors remain inactive while the blue whales are selling off their coins.

Uptober expectations (October is statistically a growth month for Bitcoin) and a technical correction in the US dollar index led to a surge in the price of the coin, which crossed the USD 20,000 mark, with cumulative bear losses on short positions exceeding USD 800m for the week.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSryaDJUeeLP1G1GHTj9aZWjM1m4gYXgBNC6AS6byqaAu3BtPnNqP1rPXeb8auKg7Z8YGE?format=match&mode=fit&width=640)

The purchase of Twitter by Ilon Musk and the pending introduction of crypto-payments give traders cause for optimism. Dogecoin doubled in a week to 12 cents a coin, with veteran trader Peter Brandt claiming the bear market has ended for the meme coin.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSj2Khtjj9N5G8gYnf2ifu2sihNZ9QJpo6zVxEEgN5nsYpb2pD3efHPVnYBZf1vWDgK2tv?format=match&mode=fit&width=640)

However, overall market sentiment is rarely the dominant factor in pricing. For example, blue whales (>10k BTC), which own 15% of the Dogecoin, have been selling off their coins in the last two months.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSuitLwxbnnWE8e5kbEeXjvoKeiAUoEi2GqJt1VhF7zGT5hGW8MsaBuzT48vHcpcL9czFY?format=match&mode=fit&width=640)

Since 2020, institutional investors have been the leading investment force in the cryptocurrency market (companies with investments of USD 1m or more). Looking at their behaviour through the lens of cryptocurrency funds, there has been little movement since August.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSenC67H9pfJDURB7SQhc1tkW7SiwNRBBFahGf4wfwUhmnnD7shGEjZP7Y1ZYuG51F8TnN?format=match&mode=fit&width=640)

The weekly net inflows in October averaged at a paltry USD 730,000. And at only USD 22.9bn, the total amount of funds under management is half that of in March.

The coin sell-off by whales and the low level of interest on the part of institutional investors in cryptocurrency is associated with the Fed's upcoming key rate decision. According to the CME's FedWatch tool, there is an 83.7% probability that the regulator will again raise the key rate by 0.75%. The Fed will meet on 2 November.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSepd6k1VMAXQeQKFC67GZjh4tEoAAVWPaBFRSF64gXz8j2wcKLjYTYoPbpNL7gn5qUXSE?format=match&mode=fit&width=640)

The Fed is increasing interest rates to fight inflation, which broke a 40-year record this year. Following the rate hike, US bond yields are climbing, which in the context of global economic stagnation and the devaluation of several national currencies has led to the flow of capital into the US dollar. In the event of another 0.75% hike in the key interest rate, there is a high probability that this inflow will intensify, making it hard to see Bitcoin consolidating above USD 20,000.


StormGain analytics team (https://stormgain.com/)
(a platform to trade, exchange and store cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on November 07, 2022, 03:45:46 PM
Crypto's record-breaking October

Despite ongoing stagnation in the wider cryptocurrency market and near-zero activity among institutional investors, October still saw several new records set.

Bitcoin hashrate and mining difficulty

The 'industrial' mining sector is winning the market turf war as companies with a more balanced financial model continue to gobble up market share from under the noses of their less fortunate counterparts.

In a note to investors last week, top publicly traded miner Core Scientific stated that it could be facing bankruptcy. It currently has more than $1.3 billion of cumulative losses, and Bitcoin's decline in H1 2022 has now led to a severe cashflow deficit. It was unable to get itself out of its current predicament despite taking out numerous loans and selling off part of the biggest reserves in the public mining sector, some 15,000 BTC.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSr5JN5BUq1XGiN4sh4TwHPTBddoMBA9MbJF7uhfY3Kj232bNvcK1m4sTpsPHUaZ3qF9Qa?format=match&mode=fit&width=640)

In direct contrast to Core, CleanSpark is buying up ASICs at unprecedentedly low prices, both from the machines' manufacturers and from bankrupt colleagues. During the bear market, companies have purchased an additional 26,500 ASICs, with 3,843 of these most likely purchased from Argo Blockchain. The average markdown on last year's prices stands at around 85%.

Because several miners are still increasing their capacity, the hashrate and network difficulty rose 20% over October to hit a new all-time high.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSdw15eEe1hNZDp1xFkamUyp1oiHAPpjvtAhDx8XbxEqmB55BvCjFQ1G6xkwLfay3MSPBc?format=match&mode=fit&width=640)

Bitcoin mining profitability

And since mining difficulty is rising in a climate of low prices, mining profitability also hit a new all-time low. Revenue per exahash thus fell to $66,500 in October, which augurs more tumultuous times ahead for the mining market.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSruhyTpXfnc7QhAkHrPb7feHLMnrhZBSuF2DjEbErTED4gmERdr79TduW9xQBvvU2bCuL?format=match&mode=fit&width=640)

Hacktober

If all that wasn't enough, hackers made sure yet another record was broken in October. According to data from Peckshield, last month saw malicious actors gain unauthorised access to $3 billion worth of coins, of which they were able to make off with $760 million. To put that into perspective, only $1.6 billion worth of assets were compromised over the entirety of 2021.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSjgg4g6tBDUeuccK3ik2tWHix2LGiAJ73SUMhQxo8LRY5o3pXiXjATz2bnfRwmLEJZ1Zx?format=match&mode=fit&width=640)

The worst hit was the Binance BSC blockchain, which had 2 million BNB (worth $586 million at the time) pilfered by hackers. Following timely action to freeze the network, the amount actually stolen was thankfully limited to just $100 million.


StormGain Analytics Team (https://stormgain.com/)
(a cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on November 08, 2022, 10:45:55 AM
The Pros and Cons of Ethereum's transition to PoS

A month and a half have passed since Ethereum's transition from a proof-of-work (PoW) algorithm to a proof-of-stake (PoS) one, where validators replaced miners for putting blocks together. The network still has to undergo a series of planned updates, but some positive and negative effects of the transition can already be identified.

Despite being the second-highest cryptocurrency by market capitalisation, Ethereum was the most advantageous for miners.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSjmhoNrSTYvad7yfA5gxWStY2n8WmrCoTaXptFhdM8qDQkABnkbaTcSLDAyndwZEN11TL?format=match&mode=fit&width=640)

Since graphics cards were predominantly used to mine it, Ethereum's transition to PoS led to the graphics accelerator market cooling off. Gamers breathed a sigh of relief as graphics card prices plummeted after news of the merger emerged.

The developers deemed the network's reduced energy consumption to be the transition's key advantage. The lower energy use was in response to ongoing news stories in 2021 about miners' environmental pollution. As a result of the change to the algorithm, the estimated annual energy consumption was reduced from a peak of 112 TWh to 0.01 TWh.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSrwmxkqjBmc8tfsG4CqvdCCwbKX6qzWhRF85BvQiZK5g5YGM5vBm4YzpftfJZmJ57qb5Q?format=match&mode=fit&width=640)

The merger's negative sides lie in the network's increased centralisation, the rise of censorship and the SEC's regulatory encroachment on the cryptocurrency's status, i.e., whether it's a security or not.

To launch a node and receive passive income, you need to stake in blocks of 32 ETH (~$50,000 at current prices).

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSiNQzrfj1CDVn9AGqLTPGSJLUo32CeFqA6nGUbX5Ee5K5Q4PBdsvDxxa4bPU8WvP6fTEE?format=match&mode=fit&width=640)

For a number of crypto enthusiasts, that amount was too much. This led to increased demand for aggregators' services. As a result, Lido Finance alone has a 30.5% market share, with another 32.1% held by cryptocurrency exchanges that comply with US regulators.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSrvW7WrYzCSYpCBA3MbGS4uAg39mt729gvPwCD4birXxsWM9dmoWi7awAnvYorBUfFgVc?format=match&mode=fit&width=640)

Aggregators can use settings that allow them to ignore transactions with addresses included on the blacklist, which generally refers to the one from the US Department of the Treasury's Office of Foreign Assets Control (OFAC). Thus, out of the last 100 blocks, 81 complied with the regulator's requirements, and the average daily censorship rate reached 64%.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSsdwV2QE43Ng2CbPfPXCMNH3aboBwuhaatBKUtLt2ft7FRrDa9D5QzifhsxLDBeYuFRga?format=match&mode=fit&width=640)

On the day of the transition to the PoS algorithm, SEC Chairman Gary Gensler hinted that the ability to passively earn income makes Ethereum similar to a security. In addition, in the current reality, more than half of all transactions take place in the United States, which also requires a stricter approach to regulating the network.

Recent trends suggest that Ethereum is increasingly moving away from the concept of cryptocurrency established by Satoshi Nakamoto as independence from financial regulators and institutions becomes ever more ephemeral. Is this too big a price to pay for energy efficiency?


StormGain Analytics Team (https://stormgain.com/)
(a cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on November 09, 2022, 11:22:11 AM
CBDCs will save us from inflation but lead to dystopia and Bitcoin's disappearance

Central Bank Digital Currencies, also known as CBDCs, are digital state currencies created using distributed ledger technology (DLT). CBDCs differ from current digital currencies that are essentially issued by commercial banks as loan obligations. And, if, at first glance, they seem like the same thing, pay closer attention because the devil is in the details. In the article Pure Evil, former BitMEX CEO Arthur Hayes reveals the reasons for the pessimism about financial regulators' plans.

The digital money currently circulating was created by commercial banks, as has historically been the case. When a consumer or organisation takes out a loan, a corresponding amount is reflected in their account. In this case, the bank's assets may be less than 10% of the issued liabilities, which is called the fractional reserve ratio. As a result of the financial cycle, the actual $100 creates a liability of $900.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSdw8pQ3BzLBecgmgtN2Qqir7jFKvX6GuKdWkVPhxJs2j8n5i6Vwp5kaVCxPZemJc1hgRU?format=match&mode=fit&width=640)

This and other rules have led to the ability to pump up the global economy with money from thin air. The US Federal Reserve, whose balance as of today is $8.7 trillion, plays the largest role in this process. Now the time has come to pay up in the form of increased inflation that can't be dealt with even by a shock rise of the key interest rate with the risk of falling into a recession. Unprotected segments of the population have once again come under attack.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSsZ6T1ajrQDEyNUuayuuVj9sTLY1zBTbeXu3JdxjiYiuyyoJYt4ZyEAMo7MHxDBk2KCML?format=match&mode=fit&width=640)

On the one hand, the government needs to support citizens and print more money. On the other hand, inflation prevents this cycle from taking place again. Hayes notes that the adoption of CBDCs will be the logical outcome of resolving the dilemma.

If adopted by the central bank model, CBDCs will be produced and controlled exclusively by central banks. At the same time, DLT allows the entire path money takes as it changes hands to be tracked and establishes rules for the end use of money and its lifetime.

By doing so, the government can provide targeted assistance to those in need while limiting their spending to food and essential goods. However, in the same way, this tool can be used against dissenters. If a person is seen at a rally, sends funds to an objectionable person, or writes a critical post on social media, that person's funds could be blocked. To prevent social indignation, the CBDC can still be allowed to be used to purchase consumer goods and pay utility bills.

Since the circulation of cash will soon be significantly limited (the technology allows CBDC funds to be calculated even without an internet connection), blocking digital money will lead to a decrease in the social activity of opposition-minded citizens. Dystopia lurks around the corner.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYStPLhrHASF9ko8pTayhdCyZz9SJoMbhjiX7qf3uq5EF8R3GXJjkLURiLyUhAnrQ1vPfca?format=match&mode=fit&width=640)

Here, we can come back to Bitcoin, which uses a blockchain (a subtype of DLT) and is designed to resist pressure from regulators. However, buying it for cold storage will be extremely difficult since all entrances and exits to/from fiat are controlled by regulators.

Hayes notes a reason for optimism, namely, the hope that CBDCs will be launched in a more benign form, with some powers remaining with commercial banks. However, the best time to buy Bitcoin was yesterday, as the opportunities to acquire are becoming fewer and fewer.


StormGain Analytics Team (https://stormgain.com/)
(a cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on November 10, 2022, 10:23:45 AM
Bitcoin: Hodlers' accumulation hits new high

Despite the tough macroeconomic environment, some network parameters suggest Bitcoin's bottom is continuing to form. During the bull run at the end of 2020, hodlers were actively getting rid of coins. Now, however, thanks to efforts to accumulate reserves, the number of inactive coins has reached a new high.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSkVADZkkXcs8e4EBLRrDM2dpXR3kWCq9XMucPUMYKk4hzuFkJ1T3PbJWvGkE7sbS3viPY?format=match&mode=fit&width=640)

At the same time, the volume of available coins that have been idle for less than six months on the market is at historic lows. This suggests a gradual withdrawal from the market to keep coins in cold wallets in anticipation of better conditions.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSkRZo9UcTyNCAbJ1UUGXV9mybJHgLFSzmHQNQRQoy5Vnn8qQGxeCtHgG99DCWcJaFSvDL?format=match&mode=fit&width=640)

User activity is another important indicator. During periods of bull runs and rapid price declines, transfer volumes denominated in US dollars are near all-time highs. On the contrary, when interest in the market cools, the figure decreases. In March 2021, for example, the peak was $13 billion a day, while in September, a local low of $3 billion was reached. It has seen slight growth since then, and a figure above $4 billion would mark a change in market sentiment.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSr7rxzWvm3UiTUkjzXzXqkjBMXrBD3ixzwCz5QLNFVchFgNnxsGh8zQxLPCiDGaihqCa2?format=match&mode=fit&width=640)

Looking at user activity by transfer volume, the group with transactions up to $10,000 has seen a period of consolidation in recent months. Whereas in the group with transfers of $1 million or more, activity continues to decline. This speaks to major players being cautious and unwilling to search for the bottom until the market actually reverses.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSe12LcvgRMhUXxt3VMeHXBYFwnErfyNXbnoSj5TXxw2xct9EjLso2TKGNPn3Hzc8yCuYz?format=match&mode=fit&width=640)

Traders, on the other hand, are overly optimistic, having considered Bitcoin's move above $21,000 a signal of reverse. The funding rate reached a six-month high on 6 November. In other words, traders paid an increased fee to hold a long position in open futures contracts, followed by a correction.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSj1BTVub1zfz1pNyKSVih876rVB9xugxrDJbomYixHdVCgPnz2WkCosnkb6svtReZkqdg?format=match&mode=fit&width=640)

Forming a bottom for Bitcoin is statistically a long and painful process for some participants. On average, this process takes 197 days, whereas the current consolidation has only been going on for less than 150 days.


StormGain Analytics Team (https://stormgain.com/)
(a cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on November 11, 2022, 10:18:02 AM
FTX's collapse was caused solely by internal problems

A claim that Binance deliberately attacked its competitor to buy it at a low price has circulated on social media. However, the combination of factors points to the unsustainable business model of the FTX-Alameda Research partnership, and Binance's actions could only have contributed to a quicker resolution of the internal conflict.

FTX and Alameda Research are owned by Sam Bankman-Fried, who promised to the end that the two projects were completely independent. In fact, a significant portion of Alameda Research's investment company assets were FTT tokens from the FTX cryptocurrency exchange.

As the market boomed in 2020-2021 and by attracting investors, Bankman-Fried managed to secure FTT's growth, which also made Alameda's financial performance skyrocket. The outstanding financial results attracted increasing attention to the project.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYStPgSLCKojtZBz3cHL9Z3oNBPV44wtrfCYWaof4JFRAgL3JyQuymRNSWFGwdmyTTchWzz?format=match&mode=fit&width=640)

Because the connection between the two companies was carefully kept secret, it was difficult for a wider audience to notice the hole between Alameda Research's assets and liabilities. An estimated $6 billion of its $14 billion in assets were backed by FTT tokens. However, cautious investment companies were aware of the problems ahead of time. For example, Orthogonal Credit denied Alameda a loan back in February, noting declining asset quality, unclear financial policies, lack of sound business practices and bureaucratic management to justify its decision.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSj1JoMF6DchhvcdbuSqgnmwkdCZRAYrdP1KviDpUnG1qCQYMUbFPFD7kXKhZYV2bsKEPg?format=match&mode=fit&width=640)

Binance invested in FTX in the crypto exchange's early days. It held more than $500 million worth of tokens as of early November 2022. After CoinDesk revealed the connection between FTX and Alameda Research on 2 November, Binance's CEO, Changpeng Zhao, decided to eliminate the risk from holding FTT, foreseeing future liquidity difficulties. Zhao also expressed his concerns about Bankman-Frieda's behaviour and behind-the-scenes moves without going into detail. He may have been hinting at a breach of a number of agreements by FTX's owner.

News recently emerged that BitDAO (the Bybit cryptocurrency exchange) demanded to disclose the FTX reserve in BIT tokens. The fact is that, in November 2021, the companies exchanged coins with a public commitment to keep them until November 2024. The day before yesterday, BIT coins dropped sharply, leading blame to fall on FTX's management. For its part, BitDAO confirmed that it held 3.3 million FTT. Later, FTX also provided evidence that BIT remained in its wallet.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSfRRC1c3ga3N4bUCxohPgofjoviH9QUqvE7EcGAXYtbpKa5NFwnAukkck38H3ft52XQAa?format=match&mode=fit&width=640)

Once again, as with Celsius and 3AC, the crypto market faced a situation when projects were mutually indebted to each other. Some invested directly in FTX and Alameda, while others exchanged liabilities or tokens with them. Because of this, one project's problems are causing a crisis in a number of others, which is why the widespread market decline that has affected all coins has emerged.

Changpeng Zhao has already declined to buy FTX. Justin Sun (TRON) has now indicated an interest in acquiring it, but the difficult situation in the crypto market may lead him to change his mind. That said, FTX has already warned that it faces impending bankruptcy unless someone helps the crypto exchange soon.


StormGain Analytics Team (https://stormgain.com/)
(a cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on November 15, 2022, 10:02:29 AM
How Justin Sun (Tron) is making money on FTX's collapse

A crisis for some is an opportunity for others. Justin Sun and Sam Bankman-Fried agreed on a loophole for withdrawals that resulted in the price of Tron coins on the FTX crypto exchange jumping 170% and 1300%, respectively.

In our previous article, we explored the reasons behind FTX's crisis. In an attempt to save a sinking ship, Bankman-Fried froze withdrawals and turned to Coinbase, Kraken, Binance, Tron and other big market participants for help. After the first three declined, Sun announced his intention to explore possibly acquiring the crypto exchange.

It's worth noting that this concerns a subdivision of FTX registered in the Bahamas since financial regulators would most likely block a deal with the FTX US branch.

Details aren't known about the negotiations between FTX and Tron, but it opened up the possibility for FTX clients to withdraw funds using TRX, JST, BTT, HT coins, as well as the Tron blockchain's SUN coin.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSe5seyryp73FXPhK6YzgEu7zEnrKbCJyAXa7mQsUyvEfVGqdXMX6RREtVMLLXsBFKmVAn?format=match&mode=fit&width=640)

Since other withdrawal methods are unavailable, and users are extremely concerned about completely losing their funds, panic buying of Tron network tokens has set in on FTX. As a result, SUN's price rose by 170%, while JST skyrocketed by 1300%. At its peak, the titular TRX coin reached $2.50 but is currently trading at $0.26 despite a market price of $0.06. As such, clients of the crypto exchange are losing about 80% of their capital when withdrawing their funds.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSrAxzy5xv7ZTBsy3d58JrNmdgHhjYNjL9aCzMftTtMbWvtoujRUCcHhkqTUE8qg26TcMt?format=match&mode=fit&width=640)

Justin Sun is benefiting from the situation by providing liquidity at inflated prices. The situation will look especially bad if he refuses to buy or provide material support to FTX.

To protect clients' interests and stop the financial bleeding, on 10 November, the Securities Commission of The Bahamas froze FTX Digital Markets and related parties' assets and suspended the crypto exchange's registration. However, the continued high exchange rate for Tron coins on FTX indicates either a withdrawal window at work or users' ignorance.

In addition to the regulator, Tether stepped in by freezing a wallet containing $46 million in USDT (which is issued on the Tron blockchain). This sets a new precedent, as Tether had previously blocked funds only at the request of law enforcement agencies. According to WhaleAlert, the wallet was frozen on 10 November.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSiNkqzAdMKXVhkExuWRmitAeYLg1QeD1qgzcuHxKcGM5gx2kpdkNsLax9Rnyy9M3rR1BL?format=match&mode=fit&width=640)

More and more signs of FTX's impending bankruptcy are appearing, and this applies to both the Bahama and American branches. Galaxy Digital CEO Mike Novogratz, who has invested $77 million in FTX products, suggested in a recent interview that he'd lost the investment. The size of the FTX group of companies' financial hole is now estimated to be $9 billion.


StormGain Analytical Team (https://stormgain.com/)
(a cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on November 16, 2022, 07:23:24 AM
Weekly outflow of Bitcoin to cold wallets exceeded $3 billion

The crash of one of the largest crypto exchanges caused a mad stir in the industry. Leading market players are discussing the loss of trust built up over years, and crypto exchange clients are withdrawing coins to cold wallets en masse.

Last week, FTX joined Terra, Three Arrows Capital, Celsius and Voyager on the list of companies that have filed for bankruptcy. Poor financial management precipitated the crypto exchange's crash: the main asset held by the subsidiary investment company Alameda Research was tokens issued by FTX. The artificially created investment wealth was enhanced by active PR in the press and a long list of sponsorship deals, including the Mercedes F1.

Kraken CEO, Jesse Powell, had strong words for the FTX crash: "This is about recklessness, greed, self-interest, hubris, sociopathic behaviour that causes a person to risk all the hard-won progress this industry has earned over a decade, for their own personal gain…An exchange implosion of this magnitude is a gift to bitcoin haters all over the world".

(https://steemitimages.com/p/9vWp6aU4y8kwSZ9Gw15LFL3aMdhmgmBBFMpDJregpdP329e4EsMx1upoSp6Jy5sTAFsNDVgxfN4CcEAtQQe6k87Kdfq2xUEzRsgYMRsWdSd4cnMEdCdKGnL8yZHSmsvcaL6ojkz9LHAEC5RLA?format=match&mode=fit&width=640)

Since the credibility of aggregators has been undermined, the outflow of coins to cold wallets has increased. On November 12 alone, over 70,000 addresses were involved in withdrawing funds from crypto exchanges. Over the past week, customers withdrew a total of over $3 billion in BTC.

(https://steemitimages.com/p/9vWp6aU4y8kwSZ9Gw15LFL3aMdhmgmBBFMpDJregpdP329e2VbewbpMPRX8rgMC9d93F8vAeaLxY7Z3FCgtRWrdjuyARTcCTPW1YEKDcndacfmz3fvFjw3advfX5So1CeV4UK48jrAcrzjcsg?format=match&mode=fit&width=640)

The cumulative balances of 38 crypto exchanges tracked by CryptoQuant have shrunk to lows not seen since February 2018.

(https://steemitimages.com/p/9vWp6aU4y8kwSZ9Gw15LFL3aMdhmgmBBFMpDJregpdP328bx9yiJcnzC9zdbtqiy4t91uAWDpPgMtSDY5ZZX57rXqgM5KrWdWvC3qN1qTao6AV4uAtKqKAUGAE2k4eVvUVXJas6mjDx8fcS54?format=match&mode=fit&width=640)

The heads of Binance and MicroStrategy called on crypto enthusiasts to store the primary part of their coin holdings independently and to turn to intermediaries' services only to conduct trade operations or exchanges. As MicroStrategy CEO Michael Saylor recently said, centralised aggregators are accumulating too much power, and there is a risk of them abusing it.

Meanwhile, the cryptocurrency market is expecting new shockwaves from FTX's collapse. Crypto lender BlockFi announced a freeze on withdrawals last week; Genesis Trading announced that it's at risk of losing the $175 million it had in its FTX account; and Galaxy Digital CEO Mike Novogratz has already mentally said goodbye to the $77 million he had invested. JPMorgan predicts a new cascade of margin calls (the risk of being forced to close positions due to insufficient collateral), which could push Bitcoin to $13,000.


StormGain Analytics Team (https://stormgain.com/)
(a cryptocurrency, trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on November 17, 2022, 09:21:59 AM
Everyone's buying Bitcoin: From shrimps to institutional investors

Last week's events have led to two interesting trends. First, cryptocurrency exchanges have experienced an influx of stablecoins to exchange for Bitcoin and Ethereum. Secondly, cryptocurrency funds saw a record-high inflow of funds in the past 14 weeks.

The total volume of stablecoins on crypto exchanges has reached an all-time high of $41 billion. On the one hand, the growth was driven by a sell-off in the DeFi sector. The market shrank from $56 billion on 6 November to the current $44 billion, and Ethereum's smart contracts alone saw the rate of stablecoin withdrawals reach $4.6 billion per month.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSu5z7JGtF4WoBHwkahX3CitiZEvg5t62t6H6xFDCNQKyMJ4F1jGQFGPS6Ai3jrCTUGcTG?format=match&mode=fit&width=640)

On the other hand, most stablecoins are like FTT (the FTX crypto exchange's token), a centralised product whose collateral should be closely examined. Because the community remains suspicious of Tether, USDT's capitalisation has experienced a drop of 5% or $3 billion over the course of the week.

In exchange for stablecoins, users are buying up Ethereum and Bitcoin to withdraw to cold wallets since the viability of decentralised assets doesn't depend on the fate of an individual platform. The rate of coin outflows from cryptocurrency exchanges reached 1.6 million/month for ETH and 106,000/month for BTC. The indicators reflect that a local bottom has been reached.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSr595bRxo3SgDyx9DgULCqdxLUKaXWQxmxZxQXAehTHhxFo9ySP4h5wu2ttrJxVGP1HgJ?format=match&mode=fit&width=640)

All ranked groups, from whales (>1,000 BTC) to shrimps (<1 BTC), are now accumulating. The latter group is showing activity not seen since 2017, adding 33,700 BTC to their holdings in just one week.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSjjm4mARxia1emkMjurSqL5GX5KptBphXMEzdJT7h13DjBGvGFeHoiw1n6Ms9QmjBzgH4?format=match&mode=fit&width=640)

Edward Snowden, a former NSA employee and a participant in the Zcash launch ceremony, has talked about his investment itch on social media. He last stated his desire to buy Bitcoin in March 2020, when it was trading at $5,000.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYScdDkAr8kn9wNHBPUZFeA3mHSbcaH1WCjiCsc7g592dh1NuEEUUshEf2BxT6LBtZYEzar?format=match&mode=fit&width=640)

Even the most cautious, Fed-sensitive institutional investors have boosted investments in cryptocurrency funds. Excluding short positions (when the fund profits off of Bitcoin dropping), the weekly inflow was $29.7 million.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYStH3rxrAZN6Wd8PsPm2QiDcg7sKPd24oXNJ9t9axrm8b7METMkUabujQLaHbWWwyh3UWz?format=match&mode=fit&width=640)

Rising hodl sentiment suggests that Bitcoin is oversold in the valuations of the cryptocurrency community and investors, but they alone don't guarantee further growth of the cryptocurrency. FTX's bankruptcy could lead to the liquidation of several smaller crypto projects, each of which would sell coins to cover losses.


StormGain Analytics Team (https://stormgain.com/)
(a cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on November 18, 2022, 10:40:42 AM
Why the USDD stablecoin exchange rate remains below parity

USDD (Tron) is a similar kind of algorithmic stablecoin as the Terra Project's infamous UST. Justin Sun issued the stablecoin shortly before Terra collapsed, subsequently promising not to repeat the situation caused by excess liquidity. But USDD is trading at a discount to the US dollar again.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSfXv4a3ujAQSMBGannB7QEZppBEKnpfhBV5upawNEe6nWabj8W1i9fdKyqCJJYvNtatgn?format=match&mode=fit&width=640)

The USDD went underwater on 9 November when the FTX cryptocurrency exchange faced a liquidity crunch. In an attempt to prop up its token, the FTX team began selling off existing reserves, including USDD stocks. In the tweet below is Sun's explanation for the decline in the stablecoin exchange rate.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSmEXW8nLZQn7B2bEreGRZcxyfApstBeamfRFWmTqZKxVf26eTpipgQKunT5ijBazqqDne?format=match&mode=fit&width=640)

As analysts at Lookonchain found out, the two whales dropped a total of $11 million worth of USDD during these two days, exchanging it for USDT and USDC. As a result of the sell-off, USDD fell to 97 cents per dollar and has still not recovered. With a reported oversupply of twice the issuance (a week ago, the ratio was as high as 3 to 1), the weakness of the exchange rate looks suspicious.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSgsSpZkMBVEK4gN8UHLnzmTi97RtjipFMh3RQgLQgcoHZQ3DLCsW2EKbLzWFXMpxV9nzA?format=match&mode=fit&width=640)

A detailed examination of the $1.5 billion reserve reveals that half of it is made up of burnt coins. It's a marketing trick. USDD was issued in exchange for destroying TRX but no longer plays any part in supporting the stablecoin.

USDD is an algorithmic stablecoin whose exchange rate is maintained by the ability to exchange it for TRX at any time when 1 USDD equals the corresponding amount of TRX at $1. The reserve only acts as an additional guarantee. UST worked in a similar way, and its collapse sparked conversations about the failure of algorithmic stablecoins.

The actual collateral overlaps the issue by a small margin ($777 million versus $725 million, respectively) and is represented by the following coins:

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSruzfBw6u6vAbBTs1FDMqpfMv6S3DgC8SHgxbcPP4aqJRYqmMZZcMMkciKfq2DsDN9CZC?format=match&mode=fit&width=640)

Meanwhile, $98 million of the reserve, or 13%, comes from proprietary coins, while $237 million (30%) comes from the highly volatile Bitcoin. USDC's $442 million (57%) is deposited in a smart contract on JustLend to generate passive income and can't be deployed quickly and without loss to support the stablecoin's exchange rate in the event of liquidity shortages.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSm5KmantUk4K14A8xchb9topDTQDcVTXD3n3Ay1GZyjgyfBPTDRZU4dnuqsryPYELxxqc?format=match&mode=fit&width=640)

For this reason, cryptocurrency reserves shouldn't be considered worthy collateral, and USDD's viability is directly dependent on TRX's capitalisation. This explains the loss of parity with a relatively small USDD sell-off.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYShaSRutKWwYUW3Lrn1knRuAh9Lqrv3Pb8Ev2fUcw6Zvqz2bThYZbKo7gBSLSyjUapRXhG?format=match&mode=fit&width=640)

UST collapsed when stablecoin's capitalisation exceeded 50% of the main network's value. For USDD, the figure is 16% ($725 million versus $4.7 billion). The breaking point hasn't been reached yet, but Justin Sun is working hard to lure investors with staking with an annual return of up to 64%.


StormGain Analytics Team (https://stormgain.com/)
(a cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on November 21, 2022, 08:47:57 AM
Another Top 10 crypto exchange is facing big problems

FTX is dragging its business partners down with it. This time, Genesis Global Trading, one of the biggest crypto lenders, has been hit with a liquidity deficit. It has ties with the major cryptocurrency fund Grayscale and the crypto exchange Gemini. The latter ranks sixth in CoinMarketCap's general ranking.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSguQAx3anetWwLXjEzuVRQ8x2fzYtqqVgwrroD1hhxmbSN4WQkeijtssozoZ94La9Bv14?format=match&mode=fit&width=640)

At the end of Q3, Genesis had total active credit lines of $2.8 billion. First, Three Arrows Capital's insolvency dealt a blow. In a filed lawsuit, the losses are estimated to be at $1.2 billion. Now, it has been revealed that the company acted as a key lender to FTX, providing $175 million to the crypto exchange.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYScgnR8vv4LG9sy46SvwarDVAoHCZsBihZ3G9vtGiAdxShCbPivmQMKnpmEsendD634fBL?format=match&mode=fit&width=640)

FTX's collapse was the final straw. On 16 November, Genesis announced a temporary suspension of payments on loans due to insufficient liquidity.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSsYnLBdfugL7JPxs6oickhU8AfT36WdpSUYLrZLSWo16Bwcg32mka7ymmoL9PPai5Lajg?format=match&mode=fit&width=640)

The refusal to lend affected the Gemini crypto exchange, which is why it announced the same day that it was suspending payments on its Earn programme. Gemini Earn lets clients receive passive income for storing cryptocurrency. Last year, yields reached 8% APY.

Because a series of crypto project bankruptcies took investor anxiety to a new level, users perceived Gemini's refusal to uphold Earn as a sign of its insolvency. Clients ran for the exits. In the previous 24 hours, the net outflow has amounted to $485 million, the largest among crypto exchanges. According to CoinDesk, the total balance in Gemini crypto wallets has dropped to $1.7 billion.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSryjEjhjxNvMwWn7BAWmJpkonESE8TLMKMsYPTta7xzZEyoiug36AJaA75aNgkM1qBBNn?format=match&mode=fit&width=640)

The crypto exchange also experienced an overload and failures but has already reported that it's fixing the problem and resuming work. Other than freezing the Earn programme, Gemini is claiming that there are no restrictions for customers. Withdrawals are fully available.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYStCq3MAmXQJnhnHrv3vkjmyzYMpzkouQgP3J3y7g6dbC6LiyRVMmKtuCQKYEh8gx9Bp1U?format=match&mode=fit&width=640)

Due to the high interconnectivity of several crypto projects, there is a risk of the chain reaction continuing. Crypto exchanges are facing a huge outflow of coins, and lenders are up against a shortage of liquidity. In these conditions, the likelihood of Bitcoin falling in the future remains high.


StormGain Analytics Team (https://stormgain.com/)
(a cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on November 22, 2022, 11:41:50 AM
El Salvador starts buying Bitcoin on a daily basis

While the outflow of Bitcoin from crypto exchanges has reached a historical record, the President of El Salvador, Nayib Bukele, is calling to separate the wheat from the chaff and has announced the start of a programme for the country to buy cryptocurrency every day.

The collapse of the third-most-visited crypto exchange caused panic among users. In just the week ending on 13 November, a record high of 97,805 BTC was withdrawn from the platform. Investors became so nervous that Gemini's refusal to credit interest as part of its Earn programme led to the extraction of over 20% of all funds on the platform in a day.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSe1qsm1qfkMg2U4dMZMBHgkziUCnC718yCoez8Vq6t9tauihWbjSaJHsH89YApQcwPfEn?format=match&mode=fit&width=640)

Based on the movement of coins, a host of analytical agencies have already proven that the only reason for FTX's collapse was the bubble that the team inflated itself based on the FTT token. Alameda Research and FTX controlled 86% of FTT's supply, manipulating the market price and drawing loans in exchange for tokens.

However, this did not stop people from bad-mouthing cryptocurrencies with renewed vigour and promising that the entire crypto market would soon completely collapse. The President of El Salvador, Nayib Bukele, spoke out in defence of Bitcoin, explaining its fundamental difference from fraudulent schemes to the general public.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSu6xtdcZqEBtgHZppsQAP2iGvUDxye3NSA8X8UtHvHkkxKm6fUoJN5efLNhYoFBnmRjsC?format=match&mode=fit&width=640)

In support of his position, Bukele announced that El Salvador would make a daily purchase of 1 BTC starting on 18 November. In September 2021, El Salvador recognised Bitcoin as legal tender alongside the US dollar and has since accumulated a total of 2381 BTC.

This move pleased Justin Sun (Tron), who also promised to buy 1 BTC per day and encouraged as many people as possible to join this "mission".

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSm9Mma271BP21aKGqMKLzBhUVSjvwaYW4gKVT8XiXKWMvJ2JDrz7eQ1cHHnyNazAvntoQ?format=match&mode=fit&width=640)

Many market participants see Bitcoin's current price as unjustifiably low. We recently reported that all cohorts of holders, from whales to shrimp, have been buying cryptocurrency. Even institutional investors have increased their investments in cryptocurrency funds.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSfWxbfykNaDSk1ifi4TMboSir61dND3QFaEEDwQqvf8gZSwNWitkWrmQNK5BJGJXDuZj4?format=match&mode=fit&width=640)

For the crypto industry, 2022 looks like a dramatic year since many companies have faced difficulties up to and including bankruptcy following the market's decline. However, it's mostly players with a weak or dishonest business model that are experiencing problems. If we look at the statistics, multitudes more cryptocurrency exchanges were liquidated in past years.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSixti7xNY85vmhqgamHHWvAcn5yYuVuz6h3adJYpUJQB8tZw4r7HVvz69oqXxCZeYTLr2?format=match&mode=fit&width=640)

The 2022 crisis is kicking weak players out of the game, and the reduction in the share of borrowed funds is triggering a rebalancing of assets and bringing them closer to their objective value. Regulators, who need to close a number of holes in the legislative realm, received an additional impetus to do so, while strong players rushed to increase transparency by independently disclosing the volume of their assets.


StormGain Analytics Team (https://stormgain.com/)
(a cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on November 23, 2022, 07:11:51 AM
Fifty shades of red: Grayscale heightens investors' fears

The wave from FTX going underwater has hit even market participants not directly associated with the crypto exchange. Genesis Trading, which like Grayscale, is a subsidiary of Digital Currency Group, suffered the largest losses (among those publicly acknowledged) from its collapse. Both companies' business processes were separate, but this hasn't stopped investors from being seriously concerned about Grayscale's ability to meet its obligations.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYStMEvCj9hZpao9J3wFj7BcMxCTnwVtXirpgHKcjwGX2uo8px3qWCU9L77WVpWfW4Yn5tr?format=match&mode=fit&width=640)

Grayscale is a fund that allows institutional investors to invest in cryptocurrencies without directly owning the asset. The fund's share price is linked to the underlying asset's value, and the management fee is 2% per annum.

Because the Bitcoin ETF was never approved in the US and didn't appear in Canada until February 2021, Grayscale was a monopolist in the market. The high demand for Bitcoin and the exceptional position of the GBTC fund have led to a revaluation of shares. In 2018, the premium (the positive difference between the value of the underlying asset and the shares) was as high as 82%, and it spent most of 2020 above 15%.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSrvqVCJZHMgxBp6spjDV1XVRixf54kDibEqqTZAPVQYCzdmbV3UcFqpVVEnhHjGUiWBB4?format=match&mode=fit&width=640)

The bonus went underwater exactly when the Canadian Bitcoin ETF was launched, and the subsequent market decline has only boosted the trend. As the macroeconomic environment has worsened, interest in the fund has also declined because of the lock-in: It's only possible to get rid of shares after a six-month hold period.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSu6TiqvNE7ctP8bv7Z1c9cuPN9STL1PEGgNFDU5kjr516rsFwYRjiFaaXUpZhs8zFuoaN?format=match&mode=fit&width=640)

The discount is now 45%. In other words, a share worth $8.30 is backed by an asset worth $15.20. For some participants, such a discount looks extremely attractive. Last week, Katie Wood's ARK Investment bought $2.8 million worth of GBTC shares.

However, most market players are concerned about a series of bankruptcies of crypto funds and companies, including difficulties at parent DCG and the suspension of payments at subsidiary Genesis Capital. Grayscale, for its part, has assured the public that the problems in the affiliated companies don't affect its interests, but it also refused to publish an address with Bitcoin reserves, which flabbergasted investors.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSsWC9voE6qUSiXvSeiC6ke1G3KNecwEmxi73yYeooAqAJ5gdFuShHqsk6hz1bRFXigUSA?format=match&mode=fit&width=640)

Grayscale is currently the largest public holder of Bitcoin, with a stock of 643,572 BTC, and Coinbase is responsible for its storage. Grayscale's unwillingness to disclose the wallet address is explained by high security requirements. They agree that such a position "will be a disappointment to some" but caution that "panic… is not a good enough reason to circumvent complex security arrangements".

Some analysts believe for good reason that problems in the subsidiaries will force DCG to seek a buyer for its most liquid asset, Grayscale. If the process of changing the management reveals a lack of reserves, the cryptocurrency market will face another storm.


StormGain Analytics Team (https://stormgain.com/)
(a cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on November 24, 2022, 08:37:11 AM
Recent events have spooked long-term Bitcoin holders

The bankruptcy of the third-most-visited cryptocurrency exchange, its partners' lack of liquidity and the risk of selling Grayscale, the largest fund with 643,572 BTC in stock, have led to a new panic attack among crypto investors. This time, even Bitcoin's most ardent supporters, long-term holders (LTH), have flinched.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSu6TiqvNE7ctP8bv7Z1c9cuPN9STL1PEGgNFDU5kjr516rsFwYRjiFaaXUpZhs8edKK9Y?format=match&mode=fit&width=640)

LTH usually demonstrate the most intelligent approach, ramping up their sales as the market rises and hoarding coins during significant corrections. However, recent events have taken the ground out from under them, with coins over 3 months old making up 4% of BTC sales last week.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSjowKsqBwgLGWMDUH82qJaYkqbqKmrdHH1wSHn6uhAttiuri8t2FPG3Pj3PhFUtS1bF26?format=match&mode=fit&width=640)

If we look at coins that have been inactive for six months or more, their sale would turn out to be the fifth largest in the last five years. On average, it saw daily trading of over 50,000 BTC. The peak was on 17 November at 130,600 BTC.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSgs9DVRtUNzT3LmqofSWVjLC3MbVup8WCKrHigfr7G75pHPgYwK6TD2a5McAvNvad9jCa?format=match&mode=fit&width=640)

A total of 254,000 BTC over six months old have been sold since FTX collapsed. The last time LTHs showed such activity was during the 2021 rally, confirming atypical behaviour due to a panic attack.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSmFotybet2WiJp84LVcYGtaD12ccXGsWQBvFAq9gZSsvUg5Rmbxu8mDMfuaVGGYMTnivz?format=match&mode=fit&width=640)

But where some are scared, others see opportunities. Institutional investors increased their investments in the short Bitcoin ETF (profits are generated when the price falls) by $18.4 million over the course of the week. The balance (the difference between investments in growth and asset decline) turned record negative, reaching -$4.3 million.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSe45rEygDFhsLdpAoMzf4A6Eo3y6dvB5M7wtpBJCq9N17w6rV61nk37q6oSBcN8qrDubt?format=match&mode=fit&width=640)

Professional market participants agree that Bitcoin can expect another wave of declines. JPMorgan estimates that the chain reaction of liquidations triggered by the FTX crash will lead to further sell-offs in stocks, with Bitcoin dropping to $13,000.


StormGain Analytics Team (https://stormgain.com/)
(a cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on November 25, 2022, 08:36:24 AM
The head of Binance rocks the boat yet again

A deleted tweet by Changpeng Zhao (CZ) criticising Coinbase's reserves caused discontent among the professional part of the crypto community due to its obvious destructiveness. Many reminded Binance's leader of his direct role in FTX's collapse.

We recently discussed the risk of selling the largest publicly traded crypto fund, Grayscale, which is connected to crypto trader Genesis Trading through Digital Currency Group. Invested funds stuck in FTX hit the parent company DCG, which is now forced to consider selling its most liquid asset: Grayscale.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSrnuLaxu3sBcyFyWDrh1FqPUVxpce83DmjzowR5mZ9UpZ5sV7UktEf1fdSiwSjZUqBPpz?format=match&mode=fit&width=640)

Grayscale's Bitcoin holdings alone are estimated to be 643,572 coins (~$10.6 billion). On the one hand, the company tried to reassure investors by announcing that it's storing crypto on Coinbase. On the other hand, it declined to publish its wallet address, citing security requirements. CZ took advantage of this by hinting that these funds aren't at Coinbase.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYScfy8C9FFdqtih38hUpjGPBXwZtMAaqPndMz4FkiVBtgJsLZNFXxGLLWhzbpkjJg3AsdG?format=match&mode=fit&width=640)

In his now-deleted tweet, CZ wrote, "4 months ago, Coinbase...has less than 600k BTC", while the crypto exchange is supposed to be holding over 635,000 BTC for Grayscale. By doing this, the head of Binance expressed doubts about both Grayscale's supply of coins and the impartiality of Coinbase. "[I'm] just stating 'news reports'," CZ concluded.

Criticism of CZ was not long in coming since it's obvious that Coinbase can't merge data on deposits of crypto exchange clients and on custodial storage services into one pot. What's more, as a publicly traded company in the United States, financial compliance is monitored by some of the world's most stringent financial regulators.

Coinbase CEO Brian Armstrong did not directly respond to CZ but did note that all of the company's financial indicators are in the public domain and that, as of 30 September, it had 2 million BTC on its balance sheet. He also warned readers to beware of false information and attempts at manipulation.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSkW7YSnZJxT6wvtuytrssw2rUei2SkqFB9cQWYVMiGdsZtCvRmhimiddBR5ukZvk6G8f8?format=match&mode=fit&width=640)

Social media users point out that CZ is smart enough not to know what things really look like right now. That's why most criticisms focused on the Binance CEO acting as a 'villain', either to strengthen bearish sentiment or to increase his market share. People also pointed to him as the trigger for FTX's collapse since the panic began with CZ selling $0.6 billion worth of FTT tokens in early November.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSu2tFj8iuUj5C7hHkJMofKWsRsYWperSt8ojBrKGCA7NxQEYs2fh5sjhWjox5JhB3Ddxa?format=match&mode=fit&width=640)

Posting a message containing unverified information with obvious negative connotations about a competitor did more damage to Changpeng Zhao himself. If he did it out of ignorance, then his level of competence comes into question.


StormGain Analytics Team (https://stormgain.com/)
(a cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on November 28, 2022, 09:45:57 AM
Bloodbath for miners

In the space of just a year, the cryptocurrency market has lost almost 70% of its value, putting weaker players under significant pressure. However, such a state of affairs beggars belief when you look at Bitcoin's hash ribbon: the network's total computational capacity has increased by 65% over this same period.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSkW8ZoRrbBabYFzixM97yLWsz2Eu7sUCgyNnPaVTrSVH7Bv2pt7kBrShtmK7SJujk2XaW?format=match&mode=fit&width=640)

Viewed in month-over-month terms, miners have continued to purchase new equipment despite the macroeconomic situation and Bitcoin's decline to new local lows.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSr5HSudHTsT6vH6MatLwCwxFWVwj5tAzsWEt69Kka6dzejf6VZhQKk8jd3mHFKGnqpFAn?format=match&mode=fit&width=640)

The addition of new equipment has led to an increase in computational difficulty, which, in combination with lower Bitcoin prices, has seen mining rewards hit all-time lows. Miners are already operating at a loss, with MacroMicro calculating the current mining breakeven price at somewhere around $20,000 per coin (these estimates are always given as an indication only since electricity tariffs, the equipment in use, and the amount of invested capital vary wildly from company to company).

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSgFBJkaCJiedR6bpSe4eXVqTLB7Sk4bj2eRYU2azfUdUDDdpjhr4SZmS6KizxgFzcv4yt?format=match&mode=fit&width=640)

Since Bitcoin mining is mainly the preserve of large companies with long-term strategic outlooks, some of these are prepared to mine at full capacity even when returns are negative in a bid to squeeze out competitors, so they can buy up ASICs at low prices.

There is a full-blown turf war currently taking place on the mining market. Core Scientific, which is the industry leader in terms of capacity and at one time in terms of reserves too, recorded $1.7 billion worth of losses in 2022 as it warned investors that it could be at risk of bankruptcy. This comes after it published plans to roll out more ASICs as recently as the middle of this year.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSgACPko7Mvc94NiprjtG99U9gytvCkfCTgKKztpEyAmonJrDso2ioMXYHApqXp498fLcn?format=match&mode=fit&width=640)

Iris Energy took out a $100 million loan, which included provisions for the purchase of new equipment. On 21 November, the company notified the SEC that it was powering down machines on account of the present low profitability, warning that it might be unable to meet its financial obligations.

In November, Argo Blockchain sold 3,843 S19J Pro ASICs that it had only just bought from Bitmain for $5.6 million as it warned investors that it could be forced to wind up operations. Back in early 2022, the company was one of the TOP 10 miners in terms of reserves, but much like Core Scientific, it was forced to sell all its coins.

Foundry, which is owned by major global mining pool Foundry USA, announced that it was buying the business of recently bankrupt Compute North. Foundry is a subsidiary of Digital Currency Group, which itself is experiencing serious difficulties as a result of investments made by another one of its subsidiaries (Genesis Trading) in the now-defunct FTX project.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSrnuLaxu3sBcyFyWDrh1FqPUVxpce83DmjzowR5mZ9UpZ5sV7UktEf1fdSiwSjZw1JiQ6?format=match&mode=fit&width=640)

Companies who have managed to hold their capital in reserves are buying equipment from their bankrupt competitors, whilst simultaneously ordering ASICs from manufacturers at "unprecedented discounts", as CleanSpark bragged in early autumn. However, the opportunities for miners are becoming fewer and fewer, and an increasing number of new companies are reporting being unable to continue working under these current conditions. Capriole fund founder Charles Edwards termed the situation on the market as a "bloodbath for Bitcoin miners", pledging that a series of bankruptcies were to come.


StormGain Analytics Team (https://stormgain.com/)
(a cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on November 29, 2022, 10:33:18 AM
Are you hodling Bitcoin? Remember Mt.Gox

The collapse of the third-most-visited crypto exchange sparked a new wave of criticism directed at cryptocurrencies on social media, with predictions that Bitcoin will hit zero. But old-timers remember that Mt.Gox's influence was unmatched, but even its bankruptcy in 2014 didn't cause irreparable damage to the crypto market.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSiFxTmeaaXDrFmMH5kxUuahG31XHnHF9j9xFsf3isXwnMHvwQEm5rHq5PVD68NSjYNF1x?format=match&mode=fit&width=640)

Mt.Gox was one of the first centralised crypto exchanges (CEX) to emerge, opening its doors in 2010. There were no decentralised exchanges (DEX) at the time, and the alternative to CEXs was specialised chatrooms and forums. In that scenario, the leading logic presumed that if the largest crypto exchange collapsed, the market would inevitably face a liquidity crisis.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSkSi9ZcgDpo9WtDPATqncwghoV3tUat3zYLziVgp7NFtdTyzrf9qGVy1yTiuZrLddvBy8?format=match&mode=fit&width=640)

Chainalysis analyst Eric Jardine estimates that Mt.Gox accounted for 46% of the market in its heyday, while FTX made up only 13%. On top of that, it's now much easier for the market to survive the collapse of an individual player since DEXs account for 50% of the total inflow of funds to crypto exchanges. This greatly reduces the risk of collapse for the industry, and cryptocurrencies become less volatile over time.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSenXAXa3dMWeHLqRLqCxeZfjEaaaJbABUWsTG3hM5o4t778Rpo6XgfvcANsysei4ZHtTx?format=match&mode=fit&width=640)

It took the market about two years to fully come to terms with the fall of such a big player. After that, revenues began to grow again, doubling by the end of 2015.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYShZTm1dRYNmUb85egbGSWG7w6BtrZCFpZXjihnjrctmn9GbmWUp8rzyhunKu1W6bGgJm4?format=match&mode=fit&width=640)

In its heyday, Mt.Gox was the central player, accumulating about half of all cryptocurrency transactions. After its collapse, in 2014 alone, Bitcoin received over 40 eulogies, according to a history of obituaries for the cryptocurrency on 99Bitcoins.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSr8hnvw8rCv5ea9GcbM7dwecyo5PdpYV4fouCQaXwrifuQTmqkrRpRQD7kjPzb5Y3RSf8?format=match&mode=fit&width=640)

However, as we all know, the giant's fall failed to result to yield a significant negative effect. Over time, new solutions and players appeared, market volume grew many times over, and the number of Bitcoin eulogies reached 466. FTX's downfall will undoubtedly leave its mark, but in a couple of years, hardly anyone will even remember it anymore.


StormGain Analytics Team (https://stormgain.com/)
(a cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on November 30, 2022, 12:51:11 PM
Dogecoin rises on Elon Musk's far-reaching plans

Dogecoin is seeing 45% growth in Q4, which is the best result among highly-liquid instruments. The positive movement is related to Elon Musk's purchase of Twitter and his plans to create a financial platform, X.com, and a smartphone free of Google and Apple's duopoly.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSiFmyahHE3rgaGpcVsMnnr3GZrH5JHL7Jo8JfMS6rqPntuLvuZPBXtnVcAPqQLhTLHsc2?format=match&mode=fit&width=640)

After unsuccessfully flirting with Bitcoin (see this article (https://stormgain.com/blog/how-elon-musk-flirted-with-bitcoin) for more details), Musk has turned his attention to Dogecoin. The meme coin can already be used to pay for a trip on Hyperloop or SpaceX, and it's expected to be added to Twitter to pay for premium services.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSrxTHQJvfp44RbBwu6ND8cya6hAEQsPMKFWcUiMyWoHK8zrUpC9bFN7g4MKBphbwXEJ9C?format=match&mode=fit&width=640)

There's been a lot of social media buzz lately about the emergence of X.com and a smartphone from Elon. X.com, one of his first projects, launched as an online banking platform in the late 1990s. A year later, X.com merged with Confinity to become PayPal. In 2002, PayPal bought eBay for $1.5 billion.

In 2017, Elon Musk bought the rights to the X.com domain, explaining that it was out of sentimentality. Now he wants to go back to his roots to create "the most valuable national institution in the world". X.com's integration with Twitter would make the social media "extremely valuable", Musk shared his far-reaching plans at the Baron Funds Investment Conference in early November.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSejdChh3Zsjnn1dTz3juuRTt7fcqYTgVW7ggyGzSHte2Nr7BAqjm1ur2nagpQiG5L1qti?format=match&mode=fit&width=640)

Back in June, during a meeting with Twitter employees, Musk indicated that the company should orient itself on the Chinese WeChat, which combines a social media network, a payment system, a gaming platform and a channel for interacting with official agencies. Apparently, Musk plans to start with finance via X.com.

Another curious move from the businessman could be the launch of his own smartphone if the duopolists Google and Apple remove Twitter from their app stores.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSr7DmsSLKBuRP8y2uxCqRJpzWLJ3mnuUhQSxxs4ZMT1LKvFeBJZvE6UMhkXdvM2EjHrP8?format=match&mode=fit&width=640)

Elon Musk claims to support free speech on Twitter. However, some posts conflict with the internal rules of the platforms mentioned above. In 2020 alone, Apple deleted nearly 30,000 apps due to them containing "undesirable content".

Releasing a smartphone is unlikely to take place, but the community met the news with enthusiasm. That said, the emergence of X.com and the integration of cryptocurrencies into payment solutions is just a matter of time.


StormGain Analytics Team (https://stormgain.com/)
(a cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on December 01, 2022, 02:24:53 PM
Short-term holders have reached the bottom

An analysis of network activity indicates the pain investors have suffered, as well as the turning points reached in some indicators. And while mining companies and institutional investors continue to dump Bitcoin, small players represented by shrimps are actively accumulating.

The bankruptcy of one of the largest cryptocurrency exchanges led to a new drop for Bitcoin. The loss suffered by investors in November was the fourth-largest in history, with the weekly realised loss reaching $10.2 billion.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSjne9wdnnbbNEFEpDrPjQ8J4W42C9c2n6zHUbh74gGzHZzXFsAfB5EgNgvBSqd7EojhpJ?format=match&mode=fit&width=640)

Institutional investors ramped up their investments in cryptocurrency funds in the first week of November, overcoming a two-month stagnation. Net weekly inflows into Bitcoin totalled $29.7 million. But another round of crisis that started with FTX's collapse sparked large withdrawals of funds and investments into short positions (profits are formed when the price falls), totalling $19.3 million in the past week.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSe4agFKaxTzHar9J4uzC63srm8RbUtEbyFYdMxQJEnqbpEQRoVhra3HbV3wpeVATk5pXp?format=match&mode=fit&width=640)

Bitcoin's decline to new local lows has resulted in a rare phenomenon: The price has fallen below the coin's realised value for short-term holders (STH). The situation is typical of reaching the bottom, as the following chart clearly shows:

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSgAgEUzcJ2wLv6imoDqZLvL6UQpY8de2Nx2vfVTMBHgb3WG4io9shRcK5ngdvt83irtaA?format=match&mode=fit&width=640)

Shrimps (<1 BTC) are the strongest believers in Bitcoin being oversold, having added 96,200 BTC to their stocks in less than a month. Their total reserve now exceeds 1.2 million BTC or 6.3% of the circulating supply.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSu6ToJuEhDbxK5KusmguYZQYkCc79o5PH6FC2oPwysRay6ubyJJT7z1VgWktDsMxFw1SE?format=match&mode=fit&width=640)

However, investors should keep their cool, as the shocks aren't over yet.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYStJU51fDvZpKEkVd6YDudPn544JKnt5Z4xspLopkXABsjio3e9ECqnXNjRge7Tg13k1ft?format=match&mode=fit&width=640)

There's a full-blown turf war currently taking place in the mining market, with FTX dragging partners down with it. According to the realised value metric for STH, it can take two to ten months for the bottom to form. This timing fits well with the position held by the Fed, whose officials have only just begun to prepare the public for a potential slowdown in monetary policy tightening.


StormGain Analytics Team (https://stormgain.com/)
(a cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on December 02, 2022, 09:33:49 AM
Bitcoin outflows from crypto exchanges at a historic high

The difficult situation in the cryptocurrency market has led to a drop in trust among centralised exchange (CEX) users. Some fear a repeat of what happened with FTX. Others believe in the power of Bitcoin and prefer to wait out this 'time of troubles' outside the market. Altogether, these factors are the reasons behind the record outflow of coins, which has reached 178,000 BTC per month.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSfX6xawE3eztExxuWnyuu4E7orzLChHPV9W7FSQ4j1DfWQrQ3qWWp7dJiSSTtHUFvxDrv?format=match&mode=fit&width=640)

As a result of the massive exodus of traders, nearly every coin that hit crypto exchanges in the past 12 months has returned to cold wallets. The supply currently available on CEXs is only 12% of the total supply, which corresponds to the numbers seen in December 2017.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSsYTxJGSUyTSSuvDeaZnzpW4eocQuuxtPqzWPx4A2fJEChEwAyFH2HFgws3NtdMXAMNzS?format=match&mode=fit&width=640)

Binance continues to see a high volume of trading. Judging by the activity, users didn't attach any importance to Changpeng Zhao's latest move (learn more here). However, outside of this crypto exchange, weekly activity has dropped to levels last seen in February 2021.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSrr9JCK6a6orfmgwWYnceWnYWiamhSCRYbXnvqngUrkWDkZrBqQrL8KEwa993ZTsJZ3rv?format=match&mode=fit&width=640)

Following the shrimps (<1 BTC), who added 96,200 BTC to their reserves in November, crabs (1-10 BTC) showed record accumulation, buying 192,000 BTC worth $3.1 billion in just one month. The outflow is coming primarily from the DeFi sector, which has lost 24% of its capitalisation during this time.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSe6MKHe8Pjvz9tKcPiWi9M9vvEXr1k5snyK8L41hhCanGf1kPiNbwu2kA5YQwWLwQVfFL?format=match&mode=fit&width=640)

These trends and the depth of the market drop have historical precedents.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSj5qfU8hvzdGEqECwpkYtHDXPcrny4juFqdHwU4gjYDi7pN8EU5mYoMcXEhke3nbhH98r?format=match&mode=fit&width=640)

If we compare the current cycle from high to low with the bear markets of 2014 and 2018, we'll see a lot of similarities. In 2014-2015, the price dropped by 85% and lasted 407 days. In 2018, it was an 84% decline that lasted 364 days. The current fall is by 77% and has lasted 376 days.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSrFpY3zT1Rp9HZaNe7scBodjRhWakEWJkPu1RTz2Zmbgov9MU64kn1tB7z7ZDJAySzqwt?format=match&mode=fit&width=640)

The market is approaching the stage when the bottom forms. However, there are still several shocks ahead before Bitcoin returns to long-term growth.


StormGain Analytics Team (https://stormgain.com/)
(a cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on December 05, 2022, 10:58:39 AM
Miners give up

Despite market conditions changing, miners have continued to introduce new equipment. But the limit has been reached. Next week, Bitcoin mining difficulty is expected to drop due to some equipment being taken offline.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSrEVSKzjUAPHZuAfam28G5saVqUTFdZHTJntYGaRkbmPrtwssN5ujGf9iWxNfvu9cKQS2?format=match&mode=fit&width=640)

Bitcoin algorithm takes 10 minutes to compute one block. If the overall capacity of the equipment involved grows, the difficulty of computing the block also increases. Despite the cryptocurrency's decline, miners have increased the network's hashrate by 65% in 2022.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSm9WaJi9PRW2zy4rdV93AHYdroxpxpR1tsucnHBBRRvHi4jJq8ujCHyiGZfzL8sYwBr1t?format=match&mode=fit&width=640)

As a result, the average mining cost has dropped below the market price. According to estimates from MacroMicro, on 29 November, the mining cost was $19,400, while the cost of one bitcoin was $16,500 per coin.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSkTMVtn3p88hZUMRKbrR1zLUiQcFk5A7CvtBdM1hbQVDbc4kQWh53zQR98VidNNN8rSz2?format=match&mode=fit&width=640)

The hashrate increase under these challenging conditions can be explained by the weakness of the mining companies that attracted huge investments in 2021, the unwillingness of some players to move positions in the overall ranking and others' unbalanced financial strategies. The mining market's restructuring is in full swing, and Core Scientific, the field's leader, is on the verge of bankruptcy, with total losses reaching $1.7 billion.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYShWQMyHNCw3xyNZVonHBHBMq5Gs2ErnD4MjKxYBxELr2DGFTdR3XCAGmXJZcVvLeEWTPC?format=match&mode=fit&width=640)

At the same time, companies that have kept cooler heads are now buying up ASICs at crazy discounts from bankrupt peers and manufacturers. This reduces the cost of market entry while keeping the profitability of top-end ASICs, leaving the business attractive. Where the equipment is located is also important, as electricity prices for miners vary from country to country, ranging from $0.01 to $0.20 per kWh. Below is a table of ASICs' profitability at electricity costs of $0.07/kWh and a Bitcoin price of $16,877.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSgCuuRnJF1PihpFm5xQcKAGbpsdikFmwzkEwtKWN7VrEB9cdjQ1q2LpoBUf8sbRg2HvcN?format=match&mode=fit&width=640)

However, even the luckiest miners are out of excitement and options, resulting in them disconnecting some equipment.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSivdbhkDnzLMkhTzxfvBM9MV9rDu7pwG1NwU6gujeViBSEtky42DX8KXJYB1c9doU6dYS?format=match&mode=fit&width=640)

On 6 December, the biggest drop in mining difficulty this year awaits Bitcoin. Currently, it takes over 10 minutes to compute one block, and that number is expected to increase by 6% to 9%.


StormGain Analytics Team (https://stormgain.com/)
(a cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on December 06, 2022, 09:50:41 AM
How the blockchain game industry survived FTX's fall

The bankruptcy of the third-most-visited crypto exchange left a mark on everything related to cryptocurrencies. That said, blockchain games are showing enviable stability, which speaks to the demand for the industry.

According to data from DappRadar, in September and October, gameplay expressed in the number of daily unique active wallets (dUAW) was 912,000. In November, this figure dropped by 12% to 801,000.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSrpq2oDcezri9BykQvbG5wiae4PYMnHSktXx3Z3XJqHhr4qJbpXsemjz288xcZWM4d8pv?format=match&mode=fit&width=640)

Among blockchains, Wax stands out; it has seen a rise in dUAW for three months in a row. In November, its client base grew by 4.5% to 344,000 wallets. The amazing numbers are due to the top game Alien Worlds.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSm4qTMbWnSz3MYuBmcLX4Tr7tENGcbvyUqqiLQwGqJDtFDc6wyRxiVBCa1TsH8Kb578ut?format=match&mode=fit&width=640)

The poorest result was from Solana, which is closely associated with FTX's investment plans.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSm59CrD5nDGTqDBoWiYaEH5q1sn2xyrThe3DyJSL8HdG1gKap6svfuqNZgYNQjSG31uLA?format=match&mode=fit&width=640)

The network's total losses are estimated to be $190 million stored in SRM and FTT tokens on the crypto exchange. The joint project Serum completely died. The collapse of Solana led to users and investors fleeing related projects, and games were no exception.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSkSPLCQDobjqZSW5BViQEqjds1XB8JggLrTi3iyLSbUwcaAgzBjKWwSYVUCbP1H3pTvpE?format=match&mode=fit&width=640)

And if games showed a slight decline overall, then virtual worlds saw a true decline. Trading volume collapsed in November by 30%, reaching levels not seen since June 2021. The number of trades fell even more strongly over the course of the month, dropping by 48% to 10,919. The negative movement was seen in all popular apps, including Decentraland and Otherside.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSkXigVp2ztvDiJ1VvELD69ikvcXiLQSYdTMRAChBqgT4WdGh3ho5mEH7XQq6Ak3UsPgVc?format=match&mode=fit&width=640)

Games provide more interaction between users, so the decline in this category is less noticeable. Virtual worlds are primarily an investment product, as a result of which the general contraction of the crypto economy is having such a depressing effect on them.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSeoyWKTGPKa37oGf7GUQ5jGcFnH48XcayTS9M9HfHYw5NJRDJ8E4WtZtv6qGqtW1mrKWe?format=match&mode=fit&width=640)

These trends are also reflected in investor preferences by category. In 2022, games raised twice as much development funds as financial platforms. It's clear that after the end of the general decline, the gaming sector will become one of the growth drivers for the cryptocurrency market.


StormGain Analytics Team (https://stormgain.com/)
(a cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on December 07, 2022, 09:03:26 AM
The Best 10 Cheap Crypto to Buy Now

Top cryptocurrencies (https://stormgain.com/cryptocurrencies) like Bitcoin, Ethereum and Polygon have generated huge profits for their early investors. However, while they still have good profitability potential, we can hardly expect a repeat of the truly impressive results they showed early on. But that doesn't mean that we won't see similar opportunities again. New or undervalued cheap cryptocurrencies sometimes pleasantly surprise their investors. In this article, we'll tell you about the best cheap crypto coins to buy today, which could bring good profits in the future.

What is the best cheap crypto to buy right now?

Before discussing promising cheap cryptocurrencies, we first need to answer the question, "what is a cheap cryptocurrency?" Many novice crypto investors think of cheap cryptocurrencies as those with a low price per coin, usually less than $1. However, since crypto assets can be fractional, the price of a single coin says nothing about whether that cryptocurrency is cheap. If a cryptocurrency has a large issuance volume, its coins may be cheap, but the asset itself may be very popular and possibly even overvalued.

Therefore, the really cheap cryptocurrencies are those with low market capitalisation. A low market cap compared to other cryptocurrencies means that the cryptocurrency is less popular, possibly undervalued and has more room to grow. Of course, of the vast number of cheap cryptocurrencies, only a few show significant growth. But those that do sometimes generate very impressive returns, reaching thousands, even tens of thousands of percentage points.

Needless to say, the potential for high profitability always comes with high risk. Investments in cheap cryptocurrencies are considered risky even by crypto market standards, so they are particularly demanding in terms of risk management. In addition, it should be kept in mind that the crypto market is currently in a bearish trend, and no one knows how long it will last.

The best 10 cheap cryptos to buy in 2022

It's always difficult to predict which cryptocurrency will see a significant rise in price, especially when it comes to cheap and lesser-known cryptos. We've listed 10 relatively cheap cryptocurrencies that have good growth potential and are also quite liquid.

1inch Network (1INCH)

1inch Network is a liquidity aggregator of decentralised exchanges that offers the best exchange prices from dozens of sources in real time. The project is actively developing and establishing partnerships, as well as trying to expand its native token utility.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSu2uEoAwSQk8iqdU4uCfB8NccCcZSsgPNoFVqdpvSpPMGhbmfbHhFCngznvLeeEYYNJHC?format=match&mode=fit&width=640)
1INCH statistics (as of 24/11/22)

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSiyDLeESeWh4Xt6pTNUpwBsQ6QNDCanWHvcPPRrY7MJdkuz5Fu4WHneqKpgic7ApYDwsC?format=match&mode=fit&width=640)
1INCH/USD historical price chart

Storj (STORJ)

Storj is an open-source, decentralised cloud storage platform that protects hosted data with advanced encryption. Given the growing need for low-cost and secure cloud storage, the platform has good prospects, despite the presence of serious competitors.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYScdX8SL7QNcaLBSuCAXqriQ3xF99iphNr9MQGEhcbA9mUymMRax2C7fnhj9K44RKHMVCS?format=match&mode=fit&width=640)
STORJ statistics (as of 24/11/22)

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSrD5QbHR4i26U1JwfANSNk5awPBKrRGDB3yRsSjYQkeJt9ZkDoNPnXDm1Cja4BFMgSzmL?format=match&mode=fit&width=640)
STORJ/USD historical price chart

SushiSwap (SUSHI)

SushiSwap is a decentralised exchange on the Ethereum blockchain that incorporates a number of basic DeFi mechanisms for financial management. The platform is gradually evolving from an exchange into a full-fledged ecosystem, incorporating DeFi and NFT tools.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSm922miVvuHWPEE5CgY8Lz5xZpWx7H4XX4jWM4Epmvkb1TwJWJGpga7XSJEvohTr2c6cW?format=match&mode=fit&width=640)
SUSHI statistics (as of 24/11/22)

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSrDYovv3L9dvLXx3DueDELCQiN1s8hP6eZhQoZSVdwa1eMKnDEuTE4nWCNtP3BJtsXjVx?format=match&mode=fit&width=640)
SUSHI/USD historical price chart

IoTeX (IOTX)

IoTeX is one of the Internet of Things projects aimed at creating a decentralised ecosystem for secure and confidential interaction between people and smart devices. Given the huge potential of the IoT market, the project token has a good chance of growth.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSsWVcnTHKSkN3xJ8oRb4vKvRBDWoM8FXZuiw5Wgu3bLV7B1K7UVcEhGyFPQmARJdL5QGv?format=match&mode=fit&width=640)
IOTX statistics (as of 24/11/22)

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSrsmeG2NtnEZftLVnDqrjUzAGiE4CX9bQA441gvTAFCh4NpDaucgQmATviXxq6hGVTcSa?format=match&mode=fit&width=640)
IOTX/USD historical price chart

Ocean Protocol (OCEAN)

Ocean Protocol is an ecosystem for creating decentralised data markets where users can buy and sell any type of information. The protocol is intended to take advantage of artificial intelligence to monetise data and equalise opportunities to access it.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSsWLVBSjvJmb1fjemarNqGDeLdSJyM3XTsttk8E9BxzC7Lqt7KNYHvxavStTNT1MS9d5Y?format=match&mode=fit&width=640)
OCEAN statistics (as of 24/11/22)

(https://steemitimages.com/p/8SzwQc8j2KJZWBXFXnbnQ1FtoZhRqrTWozhqoqWHpGmpmn4TewVqyhWoFPfCP1EJQ13H2UhkFWv1K6Krx7qteh4rMh2iEcVk7pVyKoNjKYiSiMJ7e5C?format=match&mode=fit&width=640)
OCEAN/USD historical price chart

Theta Fuel (TFUEL)

Theta is a decentralised video streaming network that aims to solve the problems caused by the centralisation of the industry, as well as the increase in the volume and quality of video streaming.

(https://steemitimages.com/p/8SzwQc8j2KJZWBXFXnbnQ1FtoZhRqrTWozhqoqWHpGmpmnGgUr9J4hPAsA8jdf1mDiFspdhT3kXwHeyqW18Bakk8e1gmBovRrHL5TdrnvMMfBBcCfVG?format=match&mode=fit&width=640)
TFUEL statistics (as of 24/11/22)

(https://steemitimages.com/p/8SzwQc8j2KJZWBXFXnbnQ1FtoZhRqrTWozhqoqWHpGmpmoJDnFNDkAtbikMtrwD1VUKrrxuyoSABCeg7v9Ko1rso8pAH3CZXapi1U6yxntchLxjixsp?format=match&mode=fit&width=640)
TFUEL/USD historical price chart

Enjin Coin (ENJ)

Enjin Coin is the token issued by the Enjin gaming platform that allows for a full trading environment to buy and sell in-game items for multiple games, as well as creating communities around each game.

(https://steemitimages.com/p/8SzwQc8j2KJZWBXFXnbnQ1FtoZhRqrTWozhqoqWHpGmpmnGvxYTTfYeYek5hY4gvYDgKp7EHiBpV3rqv84jTJxqn31GbuzpEXXk1baRdEKyuX8faX8r?format=match&mode=fit&width=640)
ENJ statistics (as of 24/11/22)

(https://steemitimages.com/p/8SzwQc8j2KJZWBXFXnbnQ1FtoZhRqrTWozhqoqWHpGmpmo6BQMpBMNXnN3zzcjR6DLbLJhX53jMeYRteJ9FondSYXKsMcYQUtWQ3iNufpcPMqyCsFJN?format=match&mode=fit&width=640)
ENJ/USD historical price chart

COTI (COTI)

COTI is an ambitious project aimed at creating a scalable, decentralised payment ecosystem. The goal of the project is not only to enable individuals and companies to make fast transactions of all types of currencies but also to enable organisations to build their own payment systems.

(https://steemitimages.com/p/8SzwQc8j2KJZWBXFXnbnQ1FtoZhRqrTWozhqoqWHpGmpmnRx32M9XQzJufqrMF4qShSteHR5suzxFLxPUqiA7z7qnh1zZwNHYUFiFnf16P8DnrsWahk?format=match&mode=fit&width=640)
COTI statistics (as of 24/11/22)

(https://steemitimages.com/p/8SzwQc8j2KJZWBXFXnbnQ1FtoZhRqrTWozhqoqWHpGmpmoK1S5o2oGNp95nLwhwX5h6eRTVR9o4qYzLDuTkdnZiEMNvqNyjfDJF88qDP2wGzvtQYGLN?format=match&mode=fit&width=640)
COTI/USD historical price chart

Everscale (EVER)

Everscale is a decentralised project originally launched on the basis of the Telegram Open Network's open-source code, but it has already outgrown its predecessor. The ecosystem is based on a scalable, asynchronous and multithreaded blockchain with functioning sharding, capable of processing more than 100,000 transactions per second. It's actively developing.

(https://steemitimages.com/p/8SzwQc8j2KJZWBXFXnbnQ1FtoZhRqrTWozhqoqWHpGmpmo9SqUqU7XjL436eFoVFAHcTs7qJaiL3NzXtpAVURtMQKifDTGPGmpLVDUgEYnXvuEin9ca?format=match&mode=fit&width=640)
EVER statistics (as of 24/11/22)

(https://steemitimages.com/p/8SzwQc8j2KJZWBXFXnbnQ1FtoZhRqrTWozhqoqWHpGmpmoJApnR463JnzfQuWjRybvrWoPpdDcZvTFWMNxYc6Yk2P6CVaXGMDnBKNvv1VcgqbJ6b8fG?format=match&mode=fit&width=640)
EVER/USD historical price chart

SafePal (SFP)

SafePal is a cryptocurrency wallet that combines a hardware device with a software platform for managing crypto assets. It supports twenty blockchains and more than 10,000 different cryptocurrencies and tokens, as well as the ability to interact with decentralised applications. SFP is a wallet service token and is used to receive rebates on SafePal commissions and products, earn money from the SafePal Earn passive income programme, manage protocol and more.

(https://steemitimages.com/p/8SzwQc8j2KJZWBXFXnbnQ1FtoZhRqrTWozhqoqWHpGmpmnH5Px4NJv9RNukevaFDTrfjVQBuuknpLnz5vHLxBmgnsdJ6z1bvGpfyduK4LPo1d8EFVAE?format=match&mode=fit&width=640)
SFP statistics (as of 24/11/22)

(https://steemitimages.com/p/8SzwQc8j2KJZWBXFXnbnQ1FtoZhRqrTWozhqoqWHpGmpmnKSZLyiD1ZW8mcN8JJQ56kTVApPFy5gaJdgXqYMkByokLgHSSpKpvNHtDCX1om2uvDruPL?format=match&mode=fit&width=640)
SFP/USD historical price chart

The best app to buy cheap crypto

The best apps for buying cryptocurrencies, including cheap ones, are usually those of reputable cryptocurrency exchanges (https://stormgain.com/exchange). The specific choice depends on your experience, why you're buying cryptocurrency and your personal preferences.
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on December 08, 2022, 10:32:42 AM
Bitcoin 'Santa Rally' boosted by declining US dollar, but miners are still struggling

Bitcoin (BTC) closed last week at just over $17,000, the highest price in three weeks, but bulls should still be cautious before charging forth. The king of crypto is battling the world reserve currency as Bitcoin appears to gain strength from the relative weakening of the US dollar and the general boost to the wider stock market.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSejS866eaGaiZzjydT12FgsJ5YnwLp5tZ4ssbo7ViwUaT22FrQcsxfTTQzaUthVnYQXoU?format=match&mode=fit&width=640)

All eyes are on the United States as it prepares to release its latest inflation figures, which will likely affect the cryptocurrency and commodities markets as we wind our way through the final month of the year. If the bullish sentiment holds, Bitcoin could reach $20,000 by Christmas.

Popular crypto community influencers such as Credible Crypto, Moustache and Dave the Wave all anticipate a rally, with several analysts noting now historical behaviour indicates a bottom in early December (e.g., around $16,000), followed by a recovery by the end of the year.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSiCiYe2be4sqEMhNiD4cCpEFF6HpUU6gFP5C3khC4D12EedcapbURhGZEhECosWExL1Rp?format=match&mode=fit&width=640)

However, the community is not all singing from the same choir sheet in this case, as other popular traders have predicted larger bottom prices for BTC in Q1 2023, potentially down to $15,000 or even $12,000. The BTC pessimists include personalities such as Bluntz and Korinek_Trades.

With such mixed feelings among influential traders, caution is advised. Key elements to watch include the US Consumer Price Index (CPI) for November, which should be released on 13 December, as well as the US Producer Price Index (PPI) and unemployment figures that will follow. This trio of economic indicators has typically been indicators of short-term volatility.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYStLknfqFrsG1Vk2N652puUzPQdLNQhhiTJTacvMi8AjCWGCzbzCUSXnLMAghcSR6GNDka?format=match&mode=fit&width=640)

Crypto traders should also keep an eye on the traditional stock market, as cryptocurrency performance has been generally correlated with riskier tech stocks.

Outside of the market, recent data has shown a decline of over 17,721 BTC in miner wallets over the last 30 days, the steepest loss since 2021. Given how Bitcoin's value against the dollar fell by 16% during November, the data appears to show miners unplugging and quitting due to unprofitability. However, there may be a silver lining for those miners who are willing to weather the storm: mining difficulty is scheduled to drop by an estimated 7.8%, adjusted automatically to reflect the market.


StormGain Analytics Team (https://stormgain.com/)
(a cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: DonaldAlfonso on December 08, 2022, 12:25:41 PM
Thanks for the info.
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on December 09, 2022, 10:57:21 AM
Bitcoin remains in a bear hug as staking boosts altcoins

Cryptocurrency remains in the jaws of the bear market as Bitcoin (BTC), the world’s first cryptocurrency, has languished under the $17,000 mark the last few days, trading near the 20-day exponential moving average ($16,966) and staying just above the immediate support of the immediate support at $16,787. If it continues to trade in this narrow range throughout the week, its eventual breakout could be even stronger.

One curious fact is that the state of the market doesn’t seem to have pulled investors away from altcoins and into Bitcoin. The original cryptocurrency’s total market share has held fast at around 40%, in contrast to historical market behaviour. While it could be a sign of fair-weather investors pulling out of the crypto market entirely, there are also altcoins that have introduced new strategies to adapt and survive the crypto winter, with staking being one such feature.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSg4N33ta6C7vzu8icGcWRbfyV8iDDhV388NwomqLzq7XFkXWNDq4tkT8TaBGL2P6s5MpJ?format=match&mode=fit&width=640)

Chainlink (LINK), a project that expands the capabilities of oracles and inter-chain communications, just introduced staking for its native token, LINK, on its network. According to Chainlink co-founder Sergey Nazarov, this move provides incentives for network users to help grow the Chainlink ecosystem, which he claims has enabled more than $6.6 trillion in transaction value in 2022. LINK continues to trade at around $7, about 50% down from its price in the first quarter.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSruiNhaJJ7aGhegZYPtizPYZomuQkHRNKPRbvfxFr3GePx9YsKj6MzpQrxPrZcMSAkzTQ?format=match&mode=fit&width=640)

Is ape fever over, or are there still some legs in this monkey business? After some time as the hottest thing in crypto, the hype around the Bored Ape Yacht Club has died down. Nevertheless, the simian brainchild of Yuga Labs has continuously tried to inject fresh ideas into the mix, such as the introduction of the Mutant Ape Yacht Club. Recently, the Ape Foundation introduced staking for ApeCoin (APE), and over $30 million worth of APE tokens was deposited into its contract the following day. APE is a relatively new crypto, originally airdropped to BAYC and MAYC back in March. It hit a high of $23 before dropping to the $4-$6 range ever since May.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSkNCLvmZF7WeHWuVYCvoQFCijn1MgtbppBcdrwAzFgQejg6PJDRUgCo7QbQiPoisXDsPc?format=match&mode=fit&width=640)

With its associated rewards for depositing and locking up crypto, staking could be a viable strategy for altcoins looking to sustain healthy ecosystems through the current crypto winter. Without Bitcoin’s first-mover advantage, the pressure is on for other tokens to prove their tech utility and offer incentives to users to participate in their ecosystems.


StormGain Analytics Team (https://stormgain.com/)
(a cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on December 12, 2022, 09:25:32 AM
Shiba Inu (SHIB) price prediction for 2022-2030

It's quite common for successful projects to see imitators pop up, so it's understandable that the well-known cryptocurrency Dogecoin wasn't able to avoid this fate. The creators of the Shiba Inu cryptocurrency tried to repeat Doge's success, which was based on the Shiba Inu dog meme. This article will walk you through important facts about Shiba Inu, help you assess its prospects and show you price predictions for it.

What is Shiba Inu (SHIB)?

Shiba Inu (SHIB) is a fairly young cryptocurrency created in August 2020 by an anonymous developer under the pseudonym Ryoshi. The coin's creator positions it as the "Dogecoin killer" and chose the Shiba Inu dog as its logo, which is also the Dogecoin logo.

While SHIB strives to emulate and possibly surpass Dogecoin's success as a meme cryptocurrency, they have several differences. SHIB is based on the Ethereum blockchain and is an ERC-20 token. Moreover, in the future, the SHIB coin itself should become an internal token of the developed decentralised Shiba Inu ecosystem, which, among other things, will include the ShibaSwap decentralised exchange.

When Shiba Inu was created in August 2020, the developers sent half of SHIB 1 quadrillion tokens to the decentralised Uniswap exchange, and the keys to the wallet were thrown away. This means that 50% of tokens are in circulation, but the developers cannot dispose of them. According to the developers, this was done to provide users with an open market for exchanging and fairly distributing tokens. The second half of the token issuance was sent to the public wallet of Ethereum founder Vitalik Buterin. In May 2021, Vitalik donated a portion of his Shiba Inu tokens, worth $1.2 billion, to fight COVID-19 in India. After that, on 16 May 2021, he sent 90% of his remaining SHIB tokens to an inaccessible address that burned them.

I don't want to be a locus of power of that kind. Better to just print the coins into the hands of a worthy charity directly. — Vitalik Buterin

As such, the developers didn't keep any tokens for themselves. To get any, they'd have to buy them on the market just like ordinary users.

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Shiba Inu (SHIB) price analysis

At the time of writing, SHIB ranked 14th among cryptocurrencies by market capitalisation at $4,933,107,005.

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SHIB price statistics (as of 23/11/22)

SHIB's price history

Although the coin appeared in August 2020, its price remained negligible until April 2021, when it jumped to $0.0000042. A subsequent correction pushed the price down to the range of $0.00000085-$0.0000022. It remained at that level until the beginning of May.

In the first ten days of May, the price rose sharply in response to the coin's listing on several large exchanges and reached an all-time high on 10 May 2021 after being listed on the largest crypto exchange Binance.

On 12 May, Vitalik Buterin spent part of his SHIB tokens on charity, after which the price fell by over a half. The subsequent burning of 90% of his remaining tokens didn't have a noticeable effect on the price, and it kept falling. In October, following renewed interest from investors and the token's increasing popularity, SHIB exploded upward again, creating a new all-time high at $0.00008854.

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SHIB/USD historical price chart

SHIB technical analysis

Despite SHIB's relatively short history on large crypto exchanges, we can already draw certain conclusions about it. The coin is currently in a downward consolidation phase from the perspective of the daily chart. It recently shattered the long-term support at $0.00000984 and kept trading lower until it hit a price floor at $0.00000984. The 100-day and 200-day Exponential Moving Averages are also getting wider apart above price, which suggests a strong bearish trend. There don't seem to be strong signs of recovery, and $0.00000586 is a price to seriously consider in the coming weeks or months.

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SHIB/USDT D1 chart

Shiba Inu price prediction 2018-2019

The SHIB was created in August 2020 and did not trade before that date.

Shiba Inu price prediction 2020

The SHIB token was not traded on large crypto exchanges in 2020, and its price was negligible.

Shiba Inu (SHIB) price prediction for 2022, 2023, 2025 and 2030

Now is the time to find out what famous cryptocurrency experts think about the SHIB token's prospects. As usual, we've compiled for you SHIB mid-term and long-term price predictions made by the most renowned of these experts.

WalletInvestor's SHIB price prediction for 2022, 2023, 2025 and 2030

WalletInvestor considers Shiba Inu to be bad for investment. According to their calculations, the coin has the potential to fall to $0.000000582 in 1 year, an over 90% loss. According to their estimates, Shiba Inu's price may crash in 5 years.

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WalletInvestor's SHIB 2022-2023 price prediction

DigitalCoinPrice's SHIB price prediction for 2022, 2023, 2025 and 2030

Digitalcoin also predicts gradual growth for the SHIB token. Their forecast sees the coin costing as much as $0.0000228 in a year and $0.0000324 in 2 years. Not much growth is expected in 3 years, but it could rise to $0.0000491 in 5 years and $0.0000936 in 7 years.

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DigitalCoinPrice's SHIB 2022-2028 price prediction

PickACrypto's SHIB price prediction for 2022, 2023, 2025 and 2030

PickACrypto is even more optimistic about Shiba Inu's prospects. Here's a statement from their website.

From 2023 to 2025, we think the price of SHIB to visit the $0.0002000 to $0.0005000 USD area as the Team continues to develop their products and those products receive adoption from the target audience. This SHIB price prediction is based on several data sets and predictive modelling, which assumes the current long-term trend driving the price of SHIB continues in an upwards direction with no major setbacks.

Shiba Inu (SHIB) overall future value predictions

Shiba Inu is a controversial project. It was created as a competitor to Dogecoin, a coin that achieved popularity through hype. And although the developers intend to expand the project by building an ecosystem around it, to date, their specific plans are mostly unknown to the crypto community. The project doesn't even have a detailed roadmap. Although investing in such projects can bring substantial profits, doing so is highly risky, even compared to investments in other cryptocurrencies.

Will Shiba Inu go up?

Many cryptocurrency experts think so, but it's worth bearing in mind that if the developers abandon the project or the hype doesn't support its popularity anymore, the token's price may decrease significantly.

How high can SHIB go?

It will be difficult for Shiba Inu's price to reach high absolute values due to the huge number of tokens issued. However, its relative growth can be quite significant. As mentioned above, some experts predict a possible price increase to $0.0005, which is many times higher than its current price.

Shiba Inu price prediction today

The coin is currently in a downward consolidation phase, and it looks like the only thing that can revive the price right now is another crypto boom like the one that happened in May 2021.
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on December 13, 2022, 09:45:03 AM
Binance shocks accountants with its reserves report

Actions from the head of Binance are increasingly leaving the professional part of the crypto community scratching their heads. At first, Changpeng Zhao (CZ) hinted at the unfair actions by Coinbase regarding the publication of reserves, for which he received a portion of well-deserved criticism. Now, in an attempt to show how things should be done, the crypto exchange has unveiled a financial report that contains just three indicators.

Proof of Reserves reports are a sore point for the crypto industry. Five years ago, Tether was actively lending money to crypto projects (including a bailout to Bitfinex) by printing stablecoins in exchange for IOUs. This resulted in the company facing a number of lawsuits, reputational costs and a decrease in market share.

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As an audit showed, a year and a half ago, the share of commercial bonds in Tether's reserve structure reached 50%. The company now claims that it has almost completely eliminated this balance sheet item (0.07% as of 30/09/22).

After the collapse of FTX, the head of Binance called on market participants to reveal their reserves to calm the community and slow the speed of token outflows from centralised platforms. But CZ even skimmed over Coinbase, miscounting the public company's declared coins in the process. The speedily shot-off tweet was deleted due to it being blatantly groundless (for more information, see our article The head of Binance rocks the boat yet again (https://stormgain.com/blog/binance-ceo-rocks-boat-again).

A month after his call, CZ finally showed what the proof of reserves report should look like by ordering an audit from its South African partner MAZAR. The extensive five-page report (https://veritas.mazars.com/binance/Binance_POR_Report_7_December_2022.pdf) lists three financial indicators as of 22 November.

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The report shows customer liabilities of just over 597,600 BTC, while the company's net liabilities, excluding in-scope assets lent to customers, came in at slightly more than 575,700 BTC. With a balance of 582,485.93 BTC, it gave Binance the opportunity to announce that it has reserves of 101%.

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The report doesn't cover the company's liabilities to third parties and investors and provides no information about the state of its bank accounts. There's not even the slightest mention of the company's issuance of its own tokens or their use as an investment asset, which was the key reason for FTX's collapse. Former member of the US Financial Accounting Standards Board Hal Schroeder put it softly: the report means very little without any information about the quality of internal control.

In a press release, Binance called the summary it presented an "audit", which also raised some eyebrows. Douglas Carmichael, the former head of the Public Company Accounting Oversight Board, said that calling the report an audit was a "gross misrepresentation". Similarly, Francine McKenna, a lecturer at the University of Pennsylvania Wharton Business School, believes "this is more worthless than even the Tether or USDC report".

On social media, CZ portrays himself as a champion of fairness and transparency, encouraging other market participants to disclose detailed financial information. At the same time, the world's largest crypto exchange that he runs is in no hurry to lead by example, instead publishing three insignificant indicators under the guise of an audit. In an interview with The Wall Street Journal, the Chief Strategy Officer at Binance, Patrick Hillmann, couldn't even name its parent company, instead referring to a two-year reorganisation of Binance.


StormGain Analytics Team (https://stormgain.com/)
(a cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on December 15, 2022, 07:31:21 AM
New signs Bitcoin is forming a bottom

Despite the incredible pain crypto investors have faced in 2022, new signs of an upcoming turn for the market have emerged. The culmination point could be last week's record: Realised losses exceeded profits by 14 times. The indicator's extremes coincide perfectly with the price lows.

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Another key point is the growth in online activity expressed by the ratio of the average monthly transaction fee to the average annual fee. As investment attractiveness falls, interest in Bitcoin and the number of trades decline, which is reflected in a reduction in blockchain-building income for miners. But fee increases have historically been a leading indicator of a shift in sentiment.

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There was also a downside: Smaller players are primarily the ones showing interest, which is why the volume of funds continues to test local lows.

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However, big capital is still ignoring the market, as this group of participants is keeping an eye on the Fed's monetary policy. In March 2020, the key rate was lowered to its lowest level, which boosted interest in risky assets.

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In total, investors made $455 billion on Bitcoin during the cheap money cycle. At the end of 2021, the Fed announced an impending series of rate hikes. The market began to deflate, popping Terra-LUNA-UST, 3AC and FTX on the way down. This made things worse, and cumulative losses reached $213 billion.

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Now the situation is making another turn. Fed officials are using their statements to prepare the public for a reduction in the pace of rate hikes. Some economists suggest a complete withdrawal of further monetary policy tightening as soon as Q1 2023.


StormGain Analytics Team (https://stormgain.com/)
(a cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on December 16, 2022, 07:27:12 AM
Stress test for Binance: a criminal case and record outflow of funds

After media reports of a potential criminal case against Binance and the release of an obscure reserve report from the crypto exchange itself, customers have rushed to the exits. Changpeng Zhao, also known as CZ, has called these events a provocation and a reason for the company to continue growing.

The bankruptcy of FTX, the crypto exchange with the third highest traffic, raised the degree of anxiety in the crypto market. Users have stepped up their withdrawal of coins from platforms to cold wallets. In late November, the outflow rate reached a record high of 178,000 BTC per month, while the total balance of centralised crypto exchanges (CEX) dropped to levels last seen in December 2017.

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CZ tried to turn the tide by calling on market participants to disclose their financials and provide a detailed statement of reserves. But Binance's own approach was superficial, which only increased criticism and fear from clients. The 'audit' contains only three indicators and doesn't disclose the actual state of affairs at all (see more in our article (https://stormgain.com/blog/binance-shocked-accountants-with-reserves-report)).

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An article by Reuters (https://www.reuters.com/markets/us/us-justice-dept-is-split-over-charging-binance-crypto-world-falters-sources-2022-12-12/) on 12 December about the US Justice Department preparing a criminal case against Binance and CZ only added fuel to the fire. According to the news agency, an investigation has been underway since 2018, and the Justice Department is close to filing formal charges. At the heart of the case is the laundering of over $10 billion received illegally.

The Reuters article and mediocre 'audit' sparked panic among customers. According to the Nansen analyst agency, net outflows exceeded $3.6 billion between 7 and 13 December. The net daily outflows for Bitcoin reached $500 million. On the Ethereum network, this figure amounted to $1 billion between 12 and 13 December, while a significant net inflow of ERC-20 tokens has continued over a span of five months.

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Retail customers are the only ones withdrawing funds; CZ partners and associates are, too. According to Lookonchain, Justin Sun (Tron) withdrew $33 million in BUSD and $15 million in USDT over the course of nine hours. Market maker JumpTrading withdrew $146 million over a week.

The outflow of funds has already resulted in less liquidity. In particular, Binance suspended USDC withdrawals yesterday pending the opening of a bank in New York, offering customers to use alternative stablecoins.

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The drop in trust hit the BNB token, too, which lost 5% in two days.

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CZ is trying to calm the community by calling events a reason for future growth and further proof of the company's solvency. He also suggests conducting a sort of stress test (with the mass withdrawal of funds) on all CEXs on a rotating basis.


StormGain Analytics Team (https://stormgain.com/)
(a cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on December 19, 2022, 08:29:24 AM
Reshaping the stablecoin market

Stablecoins are the link between fiat and cryptocurrencies and account for 16% of the crypto market. The shocks felt in 2022 have affected this sector, too, and led to a reduction in volume and a shift in individual preferences.

For the past three years, stablecoins had been gaining ground, reaching a capitalisation of $162 billion by the end of March 2022, before the collapse of crypto projects. That fall began with the complete loss of value for UST (Terra), a stablecoin ranking in the Top 3 by market capitalisation, has led to a steady outflow of funds from the stablecoin category.

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Interest in specific coins has also changed. Because Tether had long faced complaints about the quality of its reserves, the initial shocks led to a more active washout of funds from USDT in favour of USDC (Circle) and BUSD (Binance).

BUSD showed its best growth in 2022, increasing its market share from 10% to 16% by mid-November. However, an inside scoop from Reuters (https://stormgain.com/blog/stress-test-for-binance) about an imminent criminal case against the company's management and a vague reserve report led to users actively fleeing from Binance coins. Over the past three days, BUSD's capitalisation has fallen by 16%, while BNB has dropped by 9%.

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USDC is considered the most reliable stablecoin since its parent company is registered in the US and its reserves consist exclusively of fiat and Treasury bonds. USDC's capitalisation has risen after each shock, whether it was the crypto market crash after UST's collapse in May or FTX's bankruptcy in November.

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USDC's growing popularity has even led to an undeclared war. In early September, Binance, the largest cryptocurrency exchange, revoked support for the stablecoin. All deposits in USDC were automatically converted to BUSD, resulting in USDC's capitalisation falling by $10 billion in two months and BUSD's rising by $4 billion (as of mid-November).

If we look at investor preferences for more policy- and restriction-free decentralised platforms, USDC surpasses even USDT, coming in with a 43% share ($38 billion in staked funds). Statistics are given for the Ethereum blockchain, where $13.7 billion is staked in BUSD. On BUSD's network, BSC, the stablecoin has only $4.8 billion staked, which doesn't change the big picture.

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Binance is facing an all-time high outflow of funds, and attention from the US Justice Department is forming dark clouds over it. Law enforcement agencies have old claims against Tether over the quality of its reserves. In late September, a New York federal judge asked for several years of detailed financial records, including cryptocurrency payments to third parties.

USDC already dominates betting pools and is preferred for large transfers. Further tightening in the cryptocurrency market, including growing financial regulation, will likely result in the stablecoin taking the top spot in the overall rankings.


StormGain Analytics Team
(a cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on December 20, 2022, 08:45:05 AM
Top miner's stock is skyrocketing

Core Scientific's shares have tripled in value in just two days, going from 14 cents per share to 43 cents per share on news of a possible rescue. How justified is investing in this top company mining that produces over 1,000 BTC per month?

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Mining is going through a rough period, with yields per terahash of capacity dropping fourfold to 6.6 cents in a year.

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Miners faced an extreme shortage of funds as most of the big players expanded their capacity by relying on borrowing, and Core Scientific was no exception. Despite the challenges ahead due to the worsening macroeconomic environment, the company continued to make plans to further increase its production fleet during the year. Capacity was supposed to reach 16.8 EH/s in 2022.

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But a short-sighted financial policy of aggressively buying up failing peers led to a logical outcome: money ran out, and aggregate losses topped $2 billion.

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In late October, the company warned regulators and investors of the risk of imminent bankruptcy, leading to an overnight 80% drop in its stock value. With Bitcoin falling and mining becoming increasingly more difficult, the business's shutdown looked inevitable.

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Core was given a helping hand by its main creditor, B. Riley, who announced in an open letter a rescue plan with debt restructuring. B. Riley says that bankruptcy proceedings aren't necessary and that the company can resolve most problems on its own as long as they're discussed transparently and involve creditors and investors. To support Core in the current situation, the company is willing to give an additional $72 million, of which the miner will receive $40 million immediately.

Riley estimates that with Bitcoin at $18,000, Core is capable of generating $140 million in revenue (EBITDA) and that each $1,000 increase in the cryptocurrency will generate an additional $20 million. If the coin returns to $24,500, revenues will reach $275 million, enough to fully service the debt and cover operating costs.

The publication of the letter triggered a threefold increase in the company's stock. Interest came primarily from speculators, who are counting on the top player's return to pre-crisis levels.

But it's not that simple:

1. Core hasn't agreed yet. The company's losses and its capacity are at record levels for the industry.
2. The chances of Bitcoin recovering soon remain low, with the Fed planning an interest rate hike before the end of 2023 and some economists predicting a recession next year.
3. After a few corrections, mining difficulty will begin to rise again as more adept competitors buy up ASICs at unprecedented discounts in the current environment and retain the ability to purchase more advanced hardware in the near future.

A combination of factors makes investing in Core Scientific a questionable venture. What do you think? Tell us in the comments!


StormGain analytics team (https://stormgain.com/)
(a cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on December 21, 2022, 10:51:54 AM
Shitcoins have fooled more investors than FTX

The desire among some market participants to profit off a coin's growth while others aim to get rich on the trust of a wider audience has led to a wide variety of shitcoins.

According to Solidus Labs, 41% more shitcoins have been issued this year than in 2021.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSj1BkY628AVqpUTpNXnKQx7wVnmkKuMTuvZ2C7V1R9v27iFDuEf1P6XMtwdmkiCxuCxh4?format=match&mode=fit&width=640)

Shitcoins are usually created solely for commercial interests. To attract investors, shitcoin developers run a PR campaign and create artificial hype in the market. Because new coins have extremely low liquidity, the price increases many times over in a short period of time through a financial manipulation technique known as pumping. The jump in value causes potential investors to experience fear of missing out (FOMO) on profit.

Having rocked the market, the developers gradually shed their coin holdings. As a result, the project creator is left with investors' money, and the inevitable disappointment of buyers follows the wave of hype.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSkX5X7Zs9bseHESpxxacKio2oSRCqBYVyeqqe7CREFN3G3oXL9kL43QY2JJCW4b8VBfQi?format=match&mode=fit&width=640)

The image above is a logarithmic chart of the value of one of the most high-profile shitcoins of the past two years, SQUID. Before it collapsed, the coin soared 300,000-fold to $3,000 on the promise to buyers that they would receive access to an online game based on The Squid Game series. When the scam was uncovered, the token collapsed.

Most shitcoins are built on ERC-20 tokens that support smart contracts and their analogues in other blockchains. Solidus estimates that the BSC (Binance Smart Chain) network tops the list of dirty coins with a 12% share. The Ethereum network is second with 8%.

BSC is leading due to its lower commissions. In the fall of 2021, the network's commission was around $0.05, while Ethereum's averaged over $20. BSC also hosted the main volumes of SQUID trading.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSgDaK3tiuHQJfLoTMEaDz8f6Fe83ntMH4DeNQWJzreRFvWY5SYtB9qnYHTUwtucZu7h4i?format=match&mode=fit&width=640)

Launching your own shitcoin is easy and cheap. The main challenge for the creator is to market the coin properly to engage a wider audience. In the past two years, almost 2 million investors have suffered losses because of shitcoins. That's twice as many as were affected by FTX's bankruptcy.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSsbMJfL6dsZRSRXQnRLUHAi3xf19R5j1GjP8ydfyqA8AqXSeoW7Va3m8DdneLcURBHWJS?format=match&mode=fit&width=640)

Some regulators have taken drastic measures to mitigate risks by restricting the issuance of shitcoins and meme cryptocurrencies. For example, Thailand's SEC banned NFTs and meme tokens in the middle of last year, a move that even affected Dogecoin.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSiFoFzNxbrFyCsUJgq1wANm6W2RT2BrJs7FESKs7HNU3ngoniJvYwCnA55cdrD9YerQkN?format=match&mode=fit&width=640)

But the wheat must be separated from the chaff. Dogecoin was created as a joke, and its creators didn't aim to enrich themselves. The coin needs to be mined, unlike a SHIB (Shiba Inu) clone whose issuance has one person behind it. SHIB is an ERC-20 token with an issuance of one quadrillion that has been completely released.

Solidus estimates that 350 shitcoins are issued every day, most of which are created as a scam to take advantage of naive investors.


StormGain Analytics Team (https://stormgain.com/)
(a cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on December 22, 2022, 07:35:20 AM
2023 will be a challenging year for Ethereum

Ethereum is ending 2022 in a way worse position than Bitcoin. In 12 months, it has dropped by 69%, while Bitcoin has fallen by 64%. The long-awaited switch to PoS only resulted in new challenges that promise to make 2023 a challenging year for the cryptocurrency.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSehypVYgGNvEUda6ETGjx3kVtisBrJH6aJ2KmzzeYoW3uihRipTnCxFKJcYPrSDmVthPL?format=match&mode=fit&width=640)

Technically, the switch went smoothly: developers managed to decrease energy consumption by a jaw-dropping 99.9%, and the blockchain's 'heart rate' was stabilised to precisely 12 seconds to create a block.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSiPE6GXn6esT1LgoDvHnAgtUEbQ3afupAg7aovorWxFYbDRbLaEoZPJ6LwLLaiRzsT8zr?format=match&mode=fit&width=640)

But the 13.3% growth in validators, an extra 57,000, is a dubious achievement.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSenDpUm3m58JZgwkJXuTJ9nKVRtNDpe911WFE2DY5hTAwUBkf8DjCnjVUn7WeBGh2aMxi?format=match&mode=fit&width=640)

Usually, this indicator hints at an increase in the network's decentralisation. With Ethereum, the situation was the opposite because of the significant entry threshold of 32 ETH (~$38,000) for a node to be deployed independently. As a result, investors took their money to aggregators represented by Lido Finance and major cryptocurrency exchanges.

Lido, Coinbase, Kraken and Binance have a 57% market share, while the US share of the global total has reached 56%. These are alarm bells for the cryptocurrency.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSe4T3ukpFcuq4dUfKXEm6LwyDxxehdCXr3wzZEsYU4B4KciHqo2ws6PRk9sH1rt3sqVQa?format=match&mode=fit&width=640)

Because of the dominance of the US in shaping transactions, financial regulators have already stated the need for more network supervision. The presence of such large participants makes it easier to control and impose the rules of the game. For example, this year, the crypto industry saw the virtual currency mixer Tornado Cash get blocked by the US Treasury Department's OFAC unit. Censored Ethereum blocks reach 72%.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSkM4FNuXotEqqQMZBYmkKhTuizdNZFiHLz36kmsLyfwa4U7BTbeHE1X3HazCgUFwhFiYn?format=match&mode=fit&width=640)

But things could get even worse if SEC Chairman Gary Gensler succeeds in getting Ethereum recognised as a security. A statement to this effect was made on the day of the PoS transition, as staking provided users with the opportunity to receive passive income.

And there's more. The deposit contract to engage validators was launched in late 2020 and currently contains 15.7 million ETH, which is worth $19 billion or 13% of the network's total capitalisation. Some investors put coins at a way higher price but can't get them back because they are actively staked.

The restriction will be lifted by the Shanghai hardfork, which will take place around March 2023. The release of a large number of coins and the disappointment of some investors with the negative dynamics can lead to a sell-off of ETH and a new downturn.


StormGain Analytics Team (https://stormgain.com/)
(a cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on December 23, 2022, 01:24:01 PM
Liquidity vs cryptocurrency capitalisation

Evaluating cryptocurrencies by capitalisation alone doesn't provide the whole picture of their credibility. For example, the FTX crypto exchange's FTT token had significant capitalisation but lacked the necessary liquidity. Conor Ryder from the Kaiko analyst agency suggests paying more attention to liquidity when assessing investment risks.

Trading volume

When assessing liquidity, analysts often look at trading volume. The larger the volume is, the more participants there are with orders at different price levels, making it possible to trade without slippage when executing orders. But if a large participant dominates, the significant trading volume isn't a sign of liquidity. This allowed FTX subsidiary Alameda Research (which holds up to 50% of all FTTs) to manipulate the price. Trading volume was substantial, but liquidity wasn't.

Market depth

This is one of the best indicators for assessing liquidity. It takes into account trading volume and the number of open (buy and sell) orders in both directions at different price levels. A market depth of 2% has been applied in this analysis.

The higher the indicator is, the easier it is for buyers and sellers to exchange at a price displayed in the order. The more stable the asset is in the event of shocks and significant price movements, the harder it is for large individual participants to manipulate the price. This last point is crucial for the Wild, Wild Crypto Market.

Below is a summary of the top instruments ranked by volume and market depth. A clear discrepancy can be seen between BNB and SHIB. In terms of trading volume, the coins rank 3rd and 4th, but they only rank 9th and 10th, respectively, by market depth. Litecoin, on the other hand, looks undervalued given its good level of trading activity and shortage in mass.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSgDtKp4aNDQEHccbBe1Gr6Hoi8uKbnq7akY4SENyke9aFQ8Dd61AZJW9vftpXuZWFa6j8?format=match&mode=fit&width=640)

Spreads

Spreads are also a valid measure of liquidity. They taper as the number of participants and trading volume increase. Notably, BNB loses out to some coins in market depth and spreads on parent cryptocurrency exchange Binance. Dogecoin, on the other hand, ranks third, just behind Ethereum and Bitcoin.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSgv5gDwiGTpt3Dp64c9rpiSFKs4RCPckwRsPkxureezBpRLkohDCYgmuc5kvqNgqXMzAS?format=match&mode=fit&width=640)

Overall liquidity ranking

By combining the three liquidity indicators above with market capitalisation, we get the following chart:

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSgqi6MHirog5YSExhgQuZJbvBJXR3hcQhrfMn2KXX6kKuJVdL3GPd8qynCnDdtPVjH2H4?format=match&mode=fit&width=640)

Bitcoin and Ethereum are in line with their liquidity levels, BNB and DOT (Polkadot) are overvalued, while Dogecoin, on the other hand, is undervalued.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSgtJJxYjvtMrRGtdp58cKZkTXAYv4WhDU8GTkVbV5nx89VpfezvGdud4bd9hTaHyTxHeE?format=match&mode=fit&width=640)

The overall results don't suggest that Dogecoin is destined for inevitable growth. However, this methodology gives a better assessment of the potential risks of owning an asset. This is especially applicable to centralised coins emitted by one person or organisation.


StormGain Analytics Team (https://stormgain.com/)
(a cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on December 28, 2022, 10:58:23 AM
The dollar's worth has fallen 30-fold since the Fed's creation

According to the American Enterprise Institute, from 1913 through 2017, the US dollar lost 96% of its purchasing power. In other words, in 1913, $1 could buy 30 Hershey's chocolate bars, and in 1944, it could buy 20 bottles of Coca-Cola. Now, the average American can use this same amount to only buy a small cup of coffee at McDonald's.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSrsmqSMHMdFi3TyQofvMfusmnrbhq5cLuTF8z3dVC36B7Q7YSjDZJicbnjz7J4Mzi8Lc6?format=match&mode=fit&width=640)

The situation is typical for an economy where the money supply growth rate outstrips GDP growth. It is exacerbated further by exorbitant government spending, which increases the size and cost of servicing government debt.

During the 2007-2008 global financial crisis, the Federal Reserve significantly increased its balance with an ultrasoft monetary policy. 'Cheap' dollars gave the economy the push it needed, and Americans fairly quickly forgot about the crisis.

However, the regulator was unable to unload its balance sheet in the subsequent 13-year growth cycle to prepare for the next downturn. At the same time, the pace of assistance was staggeringly large. In the first two years of the Covid-19 pandemic, 35% of all US dollars were printed, and the Fed's balance sheet grew from $4 trillion to $9 trillion.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSkVmMrhK3zvxCo1TWxZE4x4RTc9bKTBtWhXT6jR16uaBrwRPwitTsLpsaWa42kR2KGJG6?format=match&mode=fit&width=640)

Fed Chairman Jerome Powell has already acknowledged that the situation has spun out of control since the regulator incorrectly interpreted inflationary risks. In an effort to correct the situation, the Fed raised its key interest rate at the fastest pace in modern history.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSdvLJWciPJF1UxAyWf1xiGYdYq6a2jPnxM6nHn9cDPmuZTHRjK1GLcatHvQbQXUt23bxi?format=match&mode=fit&width=640)

Businesspeople have already spoken out to criticise the regulator, as the high interest rate has made borrowing more expensive, and the housing sector saw a significant drop in demand for real estate after the price rally in 2020-2021. Elon Musk once again called on the Fed to back down. Otherwise, he claimed, the last cycle could go down in history as the most destructive.

Recent events have put the Fed's weak ability to analyse and manage risks on full display. As soon as the Fed backs down (and it will have to do so despite relatively high inflation), the dollar's purchasing power will begin declining again. The economist Friedrich von Hayek opined that since there is no hope for a rational monetary policy from the government, it follows that the government must be stripped of its monopolistic right to issue money.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYShe9wigAdGAUbVuHTdhcZDQtGP33mRmMigXaG7NVgMBQaP7Jby4BKpNDh3PxYSjfSQScE?format=match&mode=fit&width=640)

This alternative comes in the form of Bitcoin, a decentralised cryptocurrency independent of financial institutions. Critics use its latest drop to argue that it's not up to the challenge, but the reason lies in the dishonest interests of individual participants. It recently turned out that in the first few years of FTX's existence, its management used client funds to meet their personal needs. The collapse of the third-most-visited crypto exchange couldn't help but cast a shadow over the industry as a whole.

However, Bitcoin itself has not lost its significance. Its degree of decentralisation (as expressed in total network capacity) has only increased over the past year. Furthermore, its issuance is severely limited and is aimed at reducing the number of new coins entering circulation. If 13 years ago, you needed 10,000 BTC to buy one pizza, now, 1 BTC could buy a whole pizzeria!


StormGain Analytics Team (https://stormgain.com/)
(a cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on January 09, 2023, 08:10:39 AM
FTX is dragging Solana down with it

The so-called 'Ethereum Killer' Solana blockchain risks becoming a victim of FTX's collapse. SOL has lost 96% from its all-time high, which is more than the drops experienced by Bitcoin (76%), Ethereum (75%) and even the memecoin Dogecoin (91%).

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSgqBPkk88DCo7UAjVHNEZ3MsDJTsstq8f4uDWnFgHFTPgtzCtBF4DGbu81G3XKgft4JJ2?format=match&mode=fit&width=640)

It's not fully known how closely tied FTX and Solana are, but Sam Bankman-Fried (SBF) has repeatedly emphasised his interest in SOL. In January 2021, the user CoinMamba said the coin was overpriced, which led to an argument and words we can't publish here from the head of FTX.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYScaoD1GagCGdjqpGEuFCtTCVLZpThz2fo8QZixNkt5QsPuugqswKhnAUcBrDRyiovUCL6?format=match&mode=fit&width=640)

In 2020, SBF launched the decentralised exchange (DEX) Serum, which is based on Solana. After listing it on several crypto exchanges, including Binance, the internal coin, SRM, rose 10-fold in value in just the first day of trading.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSfPg4156caaszw7YzenhSFKJptJe8UeoZMm5nVskRBGELqzJE1fLUjDZWMaZ6rYXvM1ga?format=match&mode=fit&width=640)

Alameda Research's CEO, Caroline Ellison, made a deal with prosecutors and spoke about direct instructions she received from SBF to manipulate the FTX crypto exchange's FTT token. Similar operations were probably also carried out with SRM and Solana. Alameda's total SOL holdings as of early November (including those staked) exceeded $1 billion.

Despite the fact that Serum was positioned as a decentralised and independent platform, it ceased to exist at the end of November. Its code was compromised after the hack of FTX on 12 November and a crash of over $600 million. The crypto exchange's leadership may have been behind the caper in an attempt to hide the financial hole and send investigators on the wrong path.

The failed joint project between FTX and Solana, SEC accusations of systematic fraud against SBF and its own problems in the form of frequent failures could not but affect the blockchain's image. In just the past two months, SOL has 'shrunk' nearly four-fold. The crisis had an even stronger effect on positions in the DeFi sector, where the total value locked (TVL) decreased from a peak of 98% to $228 million. In its golden days, Solana was in the Top 3 among cryptocurrencies by TVL. Now, it's not even in the Top 10.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSrFKi2hBRCdfX4xqFVAgKg5fPKkvEksMmvdbsyGftqfLEuLReryiWeRDMaftJX2ifm6W2?format=match&mode=fit&width=640)

The growth in associated risks has led the DeGods and Y00ts projects to recently announce their move to other networks. These have been the most popular of the Solana-based NFT collections recently. It's possible that other developers will follow suit and that growing competition will put an end to the network's return to its previous performance.


StormGain Analytical Team (https://stormgain.com/)
(a cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on January 11, 2023, 10:06:24 AM
Why miners' stocks are showing double-digit gains

The stocks of major mining companies have jumped by an average of 20% in the past 24 hours. Marathon Digital, Hut 8, Hive Blockchain, Riot Platforms (Blockchain) and Bit Digital have all shown double-digit growth. Even Core Scientific, with its ongoing Chapter 11 bankruptcy proceeding, has seen 16% growth.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSgDGZSVjbBxKcsti1fELHGH8RjiAf8kQJEEVhNbvdc6DbZByqLqascpbSoNLSw1b1mJ4v?format=match&mode=fit&width=640)

Meanwhile, Bitcoin has risen by a modest 4% to $17,200 since the start of the year, and mining difficulty may jump by 10% in six days. The combination of these factors will lead to another decline in the profitability of crypto mining.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSsYvqsiEwkNKuP93X31GGoRvgtLEvYcqRkA1KXSKh9TtEBTYun2ig38djyqQ4RpiQJ9yY?format=match&mode=fit&width=640)

Investor optimism is linked to a desire to buy shares at the bottom (securities have dropped from their highs more than Bitcoin has) and the expectation that the Fed's monetary policy reversal is imminent.

Over the past year, the regulator has been tightening the nuts, raising its key rate and causing an outflow of funds from risky assets. Its actions were first and foremost aimed at reducing inflation, which exceeded 9% in the US in July 2022. As a result, price growth has slowed and is forecast to have hit 6.5% at the end of December 2022.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSgsUHzwoVmoj4bbFiCHbC7vHn1ViRcotHfNKo5aw91jR4eanQ7MY8qZm1vKUr6eiiYLE2?format=match&mode=fit&width=640)

Since high interest rates cause economic growth to slow down in addition to lowering inflation, some experts suggest that the Fed is abandoning its plans to hike the Fed Funds Rate further. For example, Blue Line Futures president Bill Baruch believes there's a strong possibility of the Fed making this move as soon as its February meeting, in which case, markets would see a "strong rally".

This is the outcome mining companies are hoping for. For example, according to CNBC, Core Scientific is using bankruptcy proceedings to buy time. It has 300 days to offer and approve a crisis recovery plan with investors. Analysts at B. Riley Financial calculate that the company will be able to generate enough revenue to service its debt if Bitcoin reaches $24,500 per token. If the cryptocurrency grows to the desired level, there would be no need to restructure the company under Chapter 11.

Another example is Argo Blockchain. To avoid bankruptcy, the company reached an agreement with Galaxy Digital in late December to sell a mining centre in Texas and secure a $35 million loan. Argo shares are up more than 56% this year.


StormGain Analytics Team (https://stormgain.com/)
(a cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on January 12, 2023, 11:10:24 AM
Bitcoin: quiet before the storm...again

Bitcoin's 30-day volatility indicator is at a two-year low, and in recent days, the cryptocurrency has been hovering below gold, the US Dollar Index and the S&P 500. This picture is typical of a deep bear market when network activity falls and investors experience maximum pain.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSfRkV5uswWUJpo1gTqTQCr7XMRyLY2cPwAmthZ5S7oTfcjRBGpYms1y6n91AW8ioGBoXc?format=match&mode=fit&width=640)

FTX's collapse in early November caused a short spike in network activity that showed in the appearance of new Bitcoin addresses. However, since then, the average monthly indicator has returned to its annual base level. This indicates that a low level of interest in digital assets remains among a wide audience. The curves reversed in May 2021 after China banned financial institutions from performing cryptocurrency transactions.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSmFCRfLuyyehgE7xebq2isZ9fpWvHxbePKCpbZPf7euPeVeagF3xtgnyZCvRSChachyNv?format=match&mode=fit&width=640)

The drop in interest in the network is more clearly visible in the chart of daily transfers. While their volume exceeded $40 billion in Q3, that figure is now below $6 billion. The biggest drop-off was seen in the group of transactions over $10 million, which shrank from 43% to 19%.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSrEqXyADFRHD2AL7LHtFmtCdFA1ifbJXpmZ8zWfZsXbVcyXBwzyFKVELBKJHEPmvGcWWz?format=match&mode=fit&width=640)

As we've noted on several occasions, Bitcoin's main driving force since 2020 has been institutional investors who act with an eye on US monetary policy. Key interest rate hikes in 2022 caused a natural outflow of capital from risky assets, a trend strengthened by the collapse of crypto projects. Since reaching its high, Bitcoin's realised losses have totalled a record $88.4 billion.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSkVUhvEKHs76KQKeEyYAHkbExCroBuDhmDUb71n48mmQdJwbZNoAvvXgWDqozWNhxdZTt?format=match&mode=fit&width=640)

With these lows and the drop in volatility, a return to growth for Bitcoin can't be predicted just yet.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSj2dK7BsB4ENWx3pxVih5cBk3rT8b6y5MAQYtGsEixgDe3FAaqZjhSz5WhfoFFEAbnevi?format=match&mode=fit&width=640)

However, they indicate that a turning point is near. This could come in the form of the Fed opting not to hike the key interest rate further since raising it both helps to combat inflation and slows down economic growth. The regulator's next meeting is scheduled for 1 February.


StormGain Analytics Team (https://stormgain.com/)
(a cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on January 13, 2023, 10:56:24 AM
Avalanche takes off on news of its partnership with Amazon

Avalanche was the first layer 1 blockchain to sign a partnership agreement with Amazon. As part of Amazon Web Services' (AWS) product development, the companies will put forward scalable blockchain solutions for end users, businesses and governments. In just two days, the coin saw its value increase by 24%.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSfS5CDGJukPmm1X5HneAmgU2eQbR1GsFRn3VMksHQD5k9pdeHF51yioLaLfdrKRczHijp?format=match&mode=fit&width=640)

Like Solana and now Ethereum, Avalanche is based on a Proof-of-Stake algorithm, although it's beating competitors thanks to its full package of technical features. For example, Ethereum is extremely slow, reaching a maximum of just 20 transactions per second. Solana has good speed but experiences regular network outages.

Avalanche is stable and highly efficient. At less than 2 seconds, the time it takes to complete transactions is among the highest. By comparison, it takes Ethereum 6 minutes to complete a transaction.

Avalanche achieves excellent results by breaking the blockchain into subnets with separate functions. As such, C-chain is responsible for smart contracts operating, and P-chain coordinates validators.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSmG8a6HexRxvwXEqHf15vDqh9SHbkMBsQ4G2U5PFdxY5zX6HcKcJnMi1kSbjqU9W88wH8?format=match&mode=fit&width=640)

The partnership with Amazon will make it easier for developers to run and manage decentralised applications on Avalanche. AWS customers will also be able to deploy custom subnetworks. Node operators will be able to work on AWS GovCloud, which provides a cloud service for government agencies with the highest security and privacy.

Ava Labs CEO Emin Gün Sirer emphasised that Avalanche is AWS's first blockchain partner. Other networks have previously announced partnerships, but they were actually just Amazon customers.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSsZ7JW7skgHFhi116HT5WjBe2AWV9VbwpeS9gzs92Vx2jBtcK4vaXvsxJv7kKCPZHaELW?format=match&mode=fit&width=640)

Amazon isn't Avalanche's first big partner. Just last month, a similar agreement was reached with Alibaba Cloud, the largest provider of cloud services in the Asia-Pacific region.


StormGain Analytics Team (https://stormgain.com/)
(a cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on January 17, 2023, 09:42:10 AM
Ethereum's weak growth is linked to March's hardfork

Following Ethereum's transition to PoS, validators' funds placed in a deposit contract remain staked. The combined volume currently exceeds 16 million ETH or $22.5 billion, which equates to 13% of the coin's total supply.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSe4QbE9BndWxqRNVvjLdN7dM8je7z2E9s9UjvF7TnhYXPg4jL5bF1HmWZtFhbYv1UGpgn?format=match&mode=fit&width=640)

Shanghai, Ethereum's hardfork in March will remove limits, something that could cause some validators to want to sell off their ETH. Right now, 72% of their coins are 'underwater', i.e., suffering unrealised losses. Most validators expected the coin's value to rise after it transitioned to PoS, but those hopes have not materialised.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSsfkcEuTHpkZJ5GjAMM66NJpfxh6XsCdgr9xudPPmhkb9MuXwWFZmU6BnbK1PkGfk1M4z?format=match&mode=fit&width=640)

The chart below shows that Ethereum and Bitcoin's exchange rate difference has remained at the same level since June 2021, although Ethereum was leading in the previous 18 months because of the DeFi and NFT sectors' development.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSjoeR3cEwQdjdLnceeTW4hGTR4GZCqTigXHgDNCoUo2V9MCcbV7XgRwPNJbHmnhnmUtRt?format=match&mode=fit&width=640)

The loss of momentum stemmed from increased competition in those sectors, but the trend changed after Terra (LUNA) collapsed in May 2022. Ethereum's share has increased from 50% to 60% from then, as it remains the most trusted one among blockchains supporting smart contracts according to community evaluations.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSgxAWTJe7tPYLF41FWPKdXm5wZzGJUYxcdd9f8ofki8HUMjNz5q2FzwCAWVMA9e8efxpe?format=match&mode=fit&width=640)

The renewed interest in Ethereum could have caused the altcoin to strengthen against Bitcoin. However, it didn't gain a leg up for several reasons, including the significant contraction of the NFT and DeFi sectors in 2022, as well as regulators' close attention to Ethereum due to its transition to PoS and the network's increased centralisation.

Now, the risk of a significant increase in supply after coins become unlocked is added to these negative aspects. On the day of the 'merge', whales from the top 10% (miners and crypto exchanges are excluded from subaccounts) transferred 3 million ETH to exchanges to sell reserves, which prevented bullish movement from solidifying. In March, 16 million ETH will be unlocked. If one-fifth of validators decide to get rid of coins, the hardfork will once again fail to meet investors' expectations.


StormGain Analytics Team (https://stormgain.com/)
(a cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on January 18, 2023, 09:26:06 AM
Bitcoin: Just a bounce in a bear market

Bitcoin is starting off 2023 with a winning session, finishing the second week up 16%, its best result since last March. Investors and miners who have achieved hashrate record updates after adding new equipment are full of optimism. Nevertheless, the macroeconomic situation remains extremely tense.

Bitcoin has risen by 27% to $21,000 since the start of the year.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSmCc4roUUXKYwvXHLHH6V2tLUG7bk2TdjYwZyf3RVUufSVzRpXn8fNihaYHonNhSHHDqx?format=match&mode=fit&width=640)

The Fear and Greed Index moved into neutral territory for the first time since April, reaching 51 points.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSgA1cRq8PkjVCVoKFiJLXcDxyL23dcAvpErXGRFsXSXEyMTWPJZ6X6HWLXcmmSfKzwA9L?format=match&mode=fit&width=640)

And despite significant financial difficulties, miners renewed records for hashrate and mining difficulty, the latter of which jumped by 10%. The total processing capacity is now estimated to be 274.6 EH/s.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSrA12UVZogZuZ2bokg5XJxHWZ62zuCVheBjDE7yDQy3QDxjmY8mVCuWpJWTHGt2zQjHbL?format=match&mode=fit&width=640)

The nearing end of the bottom formation is indicated by the length of the current bear cycle. The second-longest in history, it's been going 179 days. The metric countdown begins when Bitcoin falls below its realised price.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSe7eSsuccm2vfehReEjfMhJCpc1ZeBCr9keisDf8WYANdJBbjiWbFhesJ8cqKVsio2oHg?format=match&mode=fit&width=640)

The current potential bottom for Bitcoin is similar to the one seen in 2019 in some ways, but with one significant difference. At that time, the Fed had already moved to quantitative easing. Now, the regulator isn't loosening its grip, and the CME FedWatch is forecasting a 92% probability that the key interest rate will rise by a further 0.25% on 1 February.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSheLULUX2ae92oZguZsCMrt3U6Mcjvhv8SQLihgFK7FLLv52SZnZrasrwqSEdeiXwfU4W?format=match&mode=fit&width=640)

Bloomberg senior analyst Mike McGlone notes the difficult macroeconomic environment globally and the continued reduction in liquidity in stock markets caused by, among other things, monetary policy:

If the Nasdaq collapses, everything collapses, including Bitcoin. What we are witnessing now is just a bounce in a bear market.

On the other hand, while the Fed has already had some success in reducing inflation, a high key interest rate limits the development opportunities for businesses. Elon Musk is among those criticising the monetary policy and forecasting a recession if it stays high. If the regulator steps back and refuses another hike at its next meeting, Bitcoin will get a new boost.


StormGain Analytics Team (https://stormgain.com/)
(a cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on January 19, 2023, 11:24:09 AM
Whales and institutional investors ignore Bitcoin's rise

The crypto market has come back to life in 2023. Since 1 January, the market's overall capitalisation has risen by 24% to once again reach $1 trillion. Bitcoin jumped up 28.5%, more than the average recovery rate.

(https://steemitimages.com/p/2VZXybTSZJq1AreaDn1D7Jp7ZEvgLC9TvJctofX1ChMgSZsVPAAJ4HGSfA1bUt7p1Ecs1YFsthiHwMRHfmALPff3VmRtQ5f7A4R37ahezphev8PUb7xTYq4Htqd65K17288ebQpx128Yr64N5XbetFENTH8?format=match&mode=fit&width=640)

Market participants' enthusiasm drove Bitcoin trading volume up over the week. In the spot market, the figure rose to $11 billion. Following trading volumes and price growth, volatility increased to 2.4% versus the sub-1% level it saw in the first week of January.

(https://steemitimages.com/p/2VZXybTSZJq1AreaDn1D7Jp7ZEvgLC9TvJctofX1ChMgSZmHfjDjxMA2bYMqLw3b1At5Leziqmi1YfgBUmkvLUBV53XsXi2ir6NHbg5KREArWvmqc8Nu2qfWJSzy5mbmtUoE9vm8X1fR2EDKMnL4hqiT3m8?format=match&mode=fit&width=640)

The market's rise was a surprise for bears. Over the past seven days, they've lost $1.2 billion on Bitcoin alone, and the volume of liquidated positions in relation to bulls reached a sixfold difference on some days.

(https://steemitimages.com/p/2VZXybTSZJq1AreaDn1D7Jp7ZEvgLC9TvJctofX1ChMgSZsdrXbHkXXM2DquTQ77xCMLczfgssR7CztMgS8RmmjDJtHHqHNd6CxdryjU5V6esXX3rtY6sY3ZrfmWnVq6MPE84gB1FwHHkCiDPVxFkAcJV6W?format=match&mode=fit&width=640)

Whales (>1,000 BTC) didn't share the same optimism as shrimps (<1 BTC). They didn't take advantage of the current price rise to sell more. On the contrary, they slightly reduced their market presence.

(https://steemitimages.com/p/2VZXybTSZJq1AreaDn1D7Jp7ZEvgLC9TvJctofX1ChMgSZnS7pbzzfwg2T38f6W16GXz1fXYhpQv2U7of34ZZ2HBwdHN8Uus22nxTeP1A1XWzRUi9DK3EtxFWa8oBTCCm2gcXuEKfjJn5LPXftAvb4RvE54?format=match&mode=fit&width=640)

Institutional investors acting through exchange-traded funds maintained their low trading volume, which reached $866 million last week. The flow of capital to Bitcoin funds rose by a meagre $10 million.

(https://steemitimages.com/p/2VZXybTSZJq1AreaDn1D7Jp7ZEvgLC9TvJctofX1ChMgSZoCPgzZUf7u5eMWX5Pso7hJ1HaXDvxvwr1tKZBMcfqbnygHhN33K4D1KuFQ4z9zGnFWo4Ny8VKeE7DSVFb6TCqYFTvtcQNeNppVYB4hHz8ZWZ4?format=match&mode=fit&width=640)

The lack of interest among large participants is also confirmed by the number of addresses containing more than 1,000 BTC. Movement remains downward after China banned financial institutions from conducting cryptocurrency transactions.

(https://steemitimages.com/p/2VZXybTSZJq1AreaDn1D7Jp7ZEvgLC9TvJctofX1ChMgSZq4MaXiXj8Jj52oQRDxPVoQSz8DrVUkn6VUQcbPyLEtD1GMwuXCpVrmJf1Rp679qkPjAVCHgEJoh5iZV5uSBDGiDnJH9Zrx3xvL5higfUEq8FG?format=match&mode=fit&width=640)

Bitcoin's current rise is largely due to the forced closing of short positions, as well as small investors' desire to try their luck by buying cryptocurrency at the bottom. Whales have still not switched to accumulating, and institutional investors are apathetic to the market at present. Macroeconomic indicators are still contrary to trader sentiments. The Fed is likely to raise interest rates again in February, and the global economy is still at risk of falling into recession in 2023.


StormGain Analytics Team (https://stormgain.com/)
(a cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on January 20, 2023, 12:22:33 PM
After a pump-and-dump, FTX has only $0.7 billion of Solana left

Cryptocurrency financial fraud is one of the key allegations against Sam Bankman-Fried (SBF). According to the New York Times, the former head of FTX negotiated with startup developers to offer the listing of new coins on his platform on mutually beneficial terms. SBF ran a vigorous advertising campaign on the days the coins were added to the platform, while Alameda was busy pumping the price as part of a pump-and-dump strategy.

While attracting the masses and creating artificial growth, Alameda off-loaded the number of coins it received from developers, thus boosting its profits. The media dubbed coins possessed by Sam as 'Samcoins'. These include low-liquid instruments such as Maps, Oxygen or Bonfida. Recent big names include Serum, a joint project between Solana and FTX to launch a decentralised exchange. And Solana is the most painful item on the list for the community.

With the cryptocurrency exchange's collapse, this close relationship went badly for Solana. In just a week, the cryptocurrency lost half its value.

(https://steemitimages.com/p/k75bsZMwYNtze9xHvT6xWCdz7q3QGD35ZKdaPpVrFksWkDJ9vbczcGWXdZrTV2zDZeykCBqMGdAdyoeWC6c4mBsxKnGhofn8rcbLEq7pJywvWE1BWbwhHtExWdr7TYtrdayn22pifxMEJtuFF9vbtKjMCm2HMxWUW?format=match&mode=fit&width=640)

At this point, it's unclear to what extent Solana's and FTX's developers cooperated since the manipulations could have been SBF's initiative. It's worth noting that the liquidation commission counted SOL as the largest asset by value, with a balance of $685 million, almost three times more than BTC or any stablecoins.

(https://steemitimages.com/p/k75bsZMwYNtze9xHvT6xWCdz7q3QGD35ZKdaPpVrFksWkCzUiMCiNrPrkDm3creDVCKQsYP1DZsKRT7RgEQfVUq1BHCqekaqwvbwELttaZ9VKV3eLeTupJRx36oXEALKKeSN44EM2SLJjk1yeXjqAMZQghSnmcqze?format=match&mode=fit&width=640)

The coins are still being counted since the assets of all companies (around 100) in this 'crypto empire' need to be combined, and some of the reserves are still on third-party exchanges. According to the commission's preliminary estimates, a total of $5.5 billion in assets has been identified. Of that, $3.5 billion of it is in cryptocurrencies. SBF's total debt is estimated to be $8.8 billion.

For Solana holders, the news isn't anything to cheer about because, once legal arguments are over, the liquidation commission will start selling coins to cover the damage caused to investors. Dumping the reserves will likely lead to a decrease in the cryptocurrency's value.


StormGain Analytics Team (https://stormgain.com/)
(a cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on January 23, 2023, 08:34:09 AM
Cryptocurrency transfers save up to 80% versus bank-to-bank exchanges

Experts from Uniswap, the largest decentralised protocol by turnover, and economists from Circle prepared a report (https://deliverypdf.ssrn.com/delivery.php?ID=955110070000009089127108012071005125103089070072017051023007106024110075093124017091011035123120033038109005007005025107077019122071014073050111064003095117067077084008028018071114067092124018102027027012112099110001029014073011088095089026105008031125&EXT=pdf&INDEX=TRUE) comparing traditional international bank payments with the alternative proposed by the DeFi sector. Cryptocurrencies not only provide a faster and cheaper solution to the problem but also reduce a number of associated risks.

The foreign exchange market processes around $7 trillion every day. Despite stable operations, around a third of all daily transfers risk not being delivered due to the complexity of the correspondent settlement model and the long chain of intermediaries. The Bank for International Settlements estimates that this amount has risen from $1.9 trillion in 2019 to $2.2 trillion in 2022.

Settlement risk was dramatically demonstrated in 1974 with the closure of Bankhaus Herstatt. Because a number of payments stalled, it resulted in related transactions not being executed. Three days later, the payment system's turnover in New York had dropped by 60%. Read more in the note "Herstatt Risk".

An exchange done in a cryptocurrency through smart contracts lacks the bundle of disadvantages in the traditional system. There's no need to be linked to national payment systems, end users are at the centre of the transactions, messaging and settlement layers are unified, processes are more transparent, and there's no risk of market makers' manipulation. This is illustrated in the scheme below, where some participants use banks to transfer money from the US to Europe, and others use a decentralised exchange:

(https://steemitimages.com/p/4HFqJv9qRjVeVQzX3gvDHytNF793bg88B7fESPieLQ8dxHcBhaw8bEtVT4qqqReS7WtBU4rZ4erk51nwkxy2zsSL7YrazgFMtVjwWcKAwz5o38Yd3C8oUD8UaNjUrCHi3BgV6MjM4MLTraNTRH9xRhJrWULUcWWWsan?format=match&mode=fit&width=640)

Uniswap has already surpassed $1.2 trillion in trading volume since it was founded in 2018. Similarly, EUROC/USDC has exceeded $124 million in trading volume in the EUROC/USDC pair since the EUROC stablecoin was introduced in July 2022.

(https://steemitimages.com/p/4HFqJv9qRjVeVQzX3gvDHytNF793bg88B7fESPieLQ8dxHfEE8wUevznyatWYqP4imWdvfeAfyU5hBLLHcu8gM425b4bMCGkfZHudeU75FPoR7f1DD2NwUXnuDpsBNjhjHPDGpS5tPJnQfkxYGT136LvQVUufP748QW?format=match&mode=fit&width=640)

Despite much smaller volumes, the traditional currency market spread widening associated with the opening and closing of regional markets doesn't take place when exchanging stablecoins. The gap with the forex price averages between one and five pips and is driven by the liquidity pool commission.

(https://steemitimages.com/p/4HFqJv9qRjVeVQzX3gvDHytNF793bg88B7fESPieLQ8dxHb9asmHGWw4EBSqFimXZ8JuYJ4SY6XFHzSmkB7DkFUxCLSQp3C1KYeFB5s5FW5y3wZsRHwjnQSwdq9tHjMowAZqvaCvbgU4w236LicphResSxWLtoQatWJ?format=match&mode=fit&width=640)

According to researchers' calculations, despite the higher cryptocurrency transfer fees, where charges also apply for depositing and withdrawing funds, savings in international transfers can reach 80%. This is due to the high fees charged by banks, which can amount to between 5% and 20% of the transfer amount for a similar service.

The problem is most critical for developing countries with a large number of migrant workers. In 2021, for example, the share of transfers in total GDP exceeded 20% in El Salvador, Lebanon and Honduras. Meanwhile, the total amount sent to low- and middle-income countries exceeds $500 billion. If cryptocurrencies were used, households could save up to $30 billion annually.

(https://steemitimages.com/p/4HFqJv9qRjVeVQzX3gvDHytNF793bg88B7fESPieLQ8dxHn5QKFxEwJ2Hr6Apm4uh1uGNo6nPH16fb9DWBpDtXUCxWrrteJze3KyvZjyAuTnc4NX3AbFZKgVpW5AEkDrLLgQkBK3wncgTa4y1nJH8qAFDncUdkMfG4E?format=match&mode=fit&width=640)

The DeFi sector can contribute significantly to reducing the costs of international transfers. The report's authors acknowledge that gaps in government regulation and the difficulties associated with securely storing cryptocurrencies are slowing the industry down. However, they're confident that further growth in the cryptocurrency market will increase the attractiveness of blockchain solutions.


StormGain Analytics Team (https://stormgain.com/)
(a cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on January 24, 2023, 10:49:32 AM
Miners sell off Bitcoin reserves at a record rate

In Bitcoin's current rise, miners have found a great opportunity to dump reserves, with some big players choosing to get rid of all their coins. Fewer crypto miners remain committed to holding out, fearing a repeat of the steep 2022 crash.

(https://steemitimages.com/p/7258xSVeJbKkzXhyseBP4PYz11eBDT8sW2oR1a4vfVFS6HTf9nYpZ9w8vVDqz1Q23ChjKDnM8dqQmAxzGWtWmTTGPtuN2rR7h6kamDxn6RbaZx7kdnzDo77qjVyKm3s3qAmFtQKVzUrra?format=match&mode=fit&width=640)

After Terra collapsed last May and Bitcoin fell below $30,000, miners saw a significant decline in mining profitability, the negatives of which were amplified by their loan commitments. Because of this, the vast majority of players gave up on the idea of hodling and transitioned to reducing their reserves. With the exception of August, month after month, public miners were dumping more coins on the market than they were generating.

(https://steemitimages.com/p/7258xSVeJbKkzXhyseBP4PYz11eBDT8sW2oR1a4vfVFS6JReBNYeEyRroKLFXhR3qPWBjqHwe3bSptpKpSnvTbRxtNS2E1mqxRXUw5fhrxzJnDUVDnCMh7obZBC13mrmW2t1tcUSUyp7Y?format=match&mode=fit&width=640)

Some crypto miners had to sell off ASICs to stay in business during such a difficult period. Others found a way out with new loans, while some had to declare bankruptcy. Bitcoin's 30% price increase in the first 10 days of 2023 was seen by many as a godsend.

At the same time, they've reduced their holdings at a record pace over the past two years, bringing the total to 1.84 million BTC. That level was last seen in November 2021.

(https://steemitimages.com/p/7258xSVeJbKkzXhyseBP4PYz11eBDT8sW2oR1a4vfVFS6HTeYbYkMowwNCpyEuskfEHxcNRMyfd8QtDRb3BGnVZhDxs9YzrcehGt5eNqtUbmyeJ9ECny6PwQMqSkSaAetrgdTKbzx1MEN?format=match&mode=fit&width=640)

A high level of indebtedness is among the reasons for miners' distress. Industry leader Core Scientific ran up to $1.8 billion in total debt last year and was forced to initiate bankruptcy proceedings. Companies that are more cautious in their financial strategies found the 2022 challenge to be an excellent opportunity to expand their business and buy ASICs at 80% and 85% cheaper.

This explains both the increase in mining difficulty to new records and the gap between the rise in yields from the rise in prices..

(https://steemitimages.com/p/7258xSVeJbKkzXhyseBP4PYz11eBDT8sW2oR1a4vfVFS6HbQSkfR69znS31E9x7bopFDRtzUb7GQ3KcagS4ZSMPfEMyL5wQt3ygBiGU6wMXsmhmkXdxnsZ6GDGsYVRuLx4iyyMGxaaHX4?format=match&mode=fit&width=640)

Since 2022 has greatly increased the stakes in the competition for every dollar from the capacity hash, some participants have decided not to test their fate further, instead opting to take advantage of the current market upturn. For example, the 1Thash pool has almost stopped mining coins. It sent the leftovers to a cryptocurrency exchange in the last three days. A total of 5,732 BTC worth $131 million was transferred. Miners usually transfer coins to cryptocurrency exchanges to then be sold.

The ongoing challenges in the mining market will further reduce miners' reserves. In the absence of a significant positive environment, a strong increase in supply on the market could not only stop growth but also lead to a reversal of the emerging trend.


StormGain Analytics Team (https://stormgain.com/)
(a cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on January 26, 2023, 10:22:30 AM
Institutional investors bet on Bitcoin dropping

Bitcoin has risen by 39% since the start of the year, which is seen by some market participants as a sign of the end of a bearish cycle. Others, in the meantime, are rushing to ramp up sales before the coin's price falls again. In our previous article, we covered the miners who are getting rid of reserves at record speeds. Institutional investors are also pessimistic.

(https://steemitimages.com/p/6KincH1mMRDELmKnnjdU4UHt2fC2WfFZBpGeMyg4QTCSizmnYAxynNczvQ1Vg6FnvQYnxd2FEt3tBfHEHXw6fzXwEQMTKZAwz6RgBBD4s71vP8MbPM4pZNEDj7cxUxiZsYXYYrn8fdbzMbVNdYyMhBDhWg6eHCn5SSoPQgbUyJMLSTcRZB2FAW?format=match&mode=fit&width=640)

Last week, cryptocurrency funds experienced inflows of $37 million, of which $25.5 million came from short positions, in which profits are generated when the asset's value falls. Institutional investors invested just $5.7 million in Bitcoin moving up last week. In terms of the geographical breakdown, US investors showed the strongest bearish sentiment (95% of investors).

(https://steemitimages.com/p/6KincH1mMRDELmKnnjdU4UHt2fC2WfFZBpGeMyg4QTCSizRCWwanvYGnMoShkFvBMFxEskoPzJRqkyjBsVP9bgKg3xY4o9A49auDeR5URL126cUtFtD8J9DZUTHB8GyMeKNzmhP8qcM8GoXtFTpnXaCFWBTQ9gryUtuHnWjMELs2ZEAznKGVvW?format=match&mode=fit&width=640)

Unlike miners and institutionalists, retail traders are looking to buy cryptocurrencies at the lowest possible price.

(https://steemitimages.com/p/6KincH1mMRDELmKnnjdU4UHt2fC2WfFZBpGeMyg4QTCSizhMCQqAUNBEUguj3YyRJVTWQiWTTRhN8SrruAkDvsviocpZpcZSH4VsMQWZQWTRNhn9jsxYndCa2o46hVGoFPTdD9EAEeDsGKqAMpfwRmSvvJu86nTgwk1S61ZFDNVxRPQ6tDHb4J?format=match&mode=fit&width=640)

This was reflected in the funding rate rising to its highest level in eight months. This rate increases when bulls dominate bears in futures trading.

(https://steemitimages.com/p/6KincH1mMRDELmKnnjdU4UHt2fC2WfFZBpGeMyg4QTCSizTWrmEb2nhmJJbMnyDsTXJAQ3SQgeQ86ABtQEej3iU429oNe2FDoRun5WFc6LLM2FV2U1bpXuUkEFBNoPzeLSZo29RCoBYjWZtgo6G8C3zxQ1Zyhj77NpNqWWas7uanHbaTXSiT18?format=match&mode=fit&width=640)

There's still hope since a number of network indicators show a great deal of similarity between bearish cycles and the potential transition to a new growth phase. The supply profitability indicator has jumped from 55% to 67% (a difference of 12%) in the last two weeks. In past bear cycles, a similar surge has preceded a market rebound.

(https://steemitimages.com/p/6KincH1mMRDELmKnnjdU4UHt2fC2WfFZBpGeMyg4QTCSizVxMydmDBzVeRvLhN4TPyNvCtXe6qxM3euKiScNpBbkrFABp5gKPXB8LZHSxrqU12zZthbKpcQv5KTH7Z68jkcfwnsBQya568GR4kQaUyZyVu2K1YfbSun3FZ3jEWhJk9746kdCfG?format=match&mode=fit&width=640)

All that said, the likelihood that the movement seen in January will continue in the same way remains low due to complicated macroeconomic conditions and a continuing reduction of liquidity in financial markets. These circumstances are what's leading big players to count on a drop.


StormGain Analytics Team (https://stormgain.com/)
(a cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on January 30, 2023, 01:24:48 PM
Aptos grew fivefold in a month. Traders bet on the cryptocurrency to fall

Aptos is an ambitious project from the developers of the failed Libra cryptocurrency, whose release was opposed by the European Central Bank in 2019. After separating from Facebook, the #DevelopmentTeam  attracted hundreds of millions in investments to launch a new Tier 1 blockchain. The project was supported by Andreessen Horowitz's fund, Coinbase Ventures, FTX Ventures, Circle Ventures, Jump Crypto and other major market players.

(https://steemitimages.com/p/AmRc67RgYaWTCbCd1L4AQP82AFWYYzZC15DpSZWeSYgzVPETqWCPrU6rsm4JRoUevh7itXo9d6LEDoZEkYjcgesTe6XDuXBYADQ16K8kGjVFQvA8sRhecoyhs3uJzw4mSETKMhWnubxBhy3sjCiroxvPzzLXaWCn?format=match&mode=fit&width=640)

Aptos is marketed as a 'Solana killer' due to its super-fast transactions. The test network managed to achieve a speed of over 130,000 transactions per second. This and other technical features are described on the official blog.

(https://steemitimages.com/p/AmRc67RgYaWTCbCd1L4AQP82AFWYYzZC15DpSZWeSYgzVNeq2RG9HzuDU6pfNeec3zDywq7MWco5ahQqio9xtGf3t3xQS2Q2PRX7na2GfiTu8nTrEc4RQWBqYuNmHtZCdhKw5PMxaCEToSw59zqo4JDuLkYNbWzi?format=match&mode=fit&width=640)

On 17 October 2022, the network was launched, and on 19 October, APT was listed by major cryptocurrency exchanges. Because of the high speculative demand on some exchanges, the peak price at the opening of trading exceeded $50.

But long-term investors should be cautious. The risk lies in the pre-listing financing rounds, where investors received a significant share of APT. A lot of coins were kept by the developers, as well. According to users' calculations, about 80% of the supply remains in the hands of large participants, while no more than 2% was distributed during airdrops. The official breakdown is as follows:

(https://steemitimages.com/p/AmRc67RgYaWTCbCd1L4AQP82AFWYYzZC15DpSZWeSYgzVPWNh5LFTAtWuc42B7zutUwDCMuVGZHSxMV5Qd6BzAEPqLyQVLeQPR1u719AQgbUKWvJMXE5gpUHryD9K9QYjAADQWb2ybNY4rVPZrfR5dRYynctYQJi?format=match&mode=fit&width=640)

49% of the funds are owned by the main investors, the fund and the developers. 51% belonging to the community is still controlled by the Aptos team. These funds will be distributed over 10 years for grants and other network development initiatives.

Another warning factor is the large volume of staked funds. The price is now rising on hype and an ongoing promotional campaign. According to Coinstats, only 16% of the 1 billion minted coins are in circulation. The rest will be unlocked according to this schedule:

(https://steemitimages.com/p/AmRc67RgYaWTCbCd1L4AQP82AFWYYzZC15DpSZWeSYgzVMoDLWwQsjM7MuFfioUpTeK6oDn3R7Sv2U8mBbZHq1CC8uqmV25NsUprCpebJgs3y4uyoVv4mn3Ld1u9eLxnYwEDbpWGFfCkxQULw1nzwrvQ6B7H6p6a?format=match&mode=fit&width=640)

Currently, 4.5 million coins, or 0.45% of the total supply, are unlocked every month. Starting 12 November, the pace will be increased to 24.8 million coins (2.48%).

APT isn't the first coin to follow this path. If blockchain fails to surprise the community with impressive growth rates, the released supply will lead to a significant price drop. Foreseeing such an outcome and anticipating profits from APT's drop, traders of perpetual futures contracts are actively opening short positions. Because of the significant dominance of the bears, the funding rate broke the 2023 low, dropping below -0.1%.

(https://steemitimages.com/p/AmRc67RgYaWTCbCd1L4AQP82AFWYYzZC15DpSZWeSYgzVN5vJVdqcLsAqhq3jrHbWD9CjJccp7AM18SrrdCkso5zoTmwUu9tmqFUpUxYDq3VauJavy4AVWtG7zWkURhViwtrRYpi586Nhb8oSkTk26Zn3FVcMd18?format=match&mode=fit&width=640)

It's possible that the increase in the price this year to $20 is due mainly to the creation of artificial demand, as expressed in the emergence of new addresses network activity is far from the October highs. With the vast majority of coins remaining staked. In private presales, investors bought APT for $1 or lower, which creates the temptation to sell the reserves after unlocking.


StormGain Analytics Team (https://stormgain.com/)
(a cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on January 31, 2023, 10:06:05 AM
Goldman Sachs: Bitcoin the best asset of 2023

With Bitcoin rising by 40%, January 2023 could be the best month for the cryptocurrency in the past 10 years. Goldman Sachs, one of the biggest banks in the world, rated the cryptocurrency as the most profitable asset when adjusted for risk. Bitcoin has outperformed gold, the stock markets and the real estate sector by a significant margin.

(https://steemitimages.com/p/5s4dzRwnVbzGM3JdycGKFQo7ALS3GhuMGL8qbG8zfSd9jRifL12AgbTCA2qMbaweuT7JYutjZj5P1ohVqgMKduuJb65jnRcfwrvdz3wau9bivHazK1xLqN8SUAo2YP74Q22HNRsaV4TvASbUokxoCy5rqpJxp6EwCeePThG?format=match&mode=fit&width=640)

Just a year ago, Goldman Sachs predicted Bitcoin would reach the $100,000 mark in the long term since the digital asset would eventually take a share from gold, which is seen as a safeguard against inflation.

Analysts from Pureprofile arrived at this same figure after conducting a study commissioned by Nickel Digital Asset Management. The experts interviewed included 200 institutional investors and asset managers from the US, the EU, Singapore, the UAE and Brazil. The respondents manage a combined $2.85 trillion in total assets.

The study found that 9 out of 10 investors predict that Bitcoin will see its price rise in 2023, and two-thirds of those surveyed agree that it could hit $100,000 in the long term. Of all respondents, 23% expect its price to rise above $30,000 by the end of this year.

(https://steemitimages.com/p/5s4dzRwnVbzGM3JdycGKFQo7ALS3GhuMGL8qbG8zfSd9jSDEdvULfPS7ViYiciujg75oVt8L7kb5yU11JWESR7tUy1KXuSxHTB5nDc5VjN2LbzLTxrrAMbhLdwWiDhwEzMzbRd4dDUFqUWBchPqiqS7anWeMVttVUcLNpMk?format=match&mode=fit&width=640)

Markus Thielen, an analyst at Matrixport, wrote in a note to his clients that the January bump was largely due to interest by US institutional investors. He added that organisations were buying both spot and futures contracts, which was reflected in the premium. He went on to add that Matrixport interprets this as a sign that hedge funds are buying up the long crypto market drop.

The Chicago Mercantile Exchange's (CME) Bitcoin Futures Open Interest chart also shows increased interest in the cryptocurrency. Movement on the chart significantly surpasses the price: January had a 77% increase, reaching $2.3 billion.

(https://steemitimages.com/p/5s4dzRwnVbzGM3JdycGKFQo7ALS3GhuMGL8qbG8zfSd9jRiQK8qC5W4dZ4Ec5uUZ418mZ4qffD6it5x4QL4A4oJt2uFcTb6ykcrNxP1xdTABK11aFtsd4X8E9wRWp5nzdJQzN2M7WMhM8zD2aXwLkFti9qpGynAd5AJsxrJ?format=match&mode=fit&width=640)

While the price's current rise is provoking a response in investor sentiment, market participants should exercise caution. The Federal Reserve has not yet abandoned its monetary policy tightening, and the risk of the global economy plunging into a recession remains. If traditional financial assets collapse, Bitcoin will have a hard time maintaining its positive movement.


StormGain Analytics Team (https://stormgain.com/)
(a cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on February 01, 2023, 02:13:27 PM
Bitcoin's contradictory growth

Bitcoin's rise to $24,000 was greeted with enthusiasm by some market participants, and institutional investors' forecasts began once again to talk about the cryptocurrency potentially reaching $100,000. Despite a slight revival, not all indicators support a positive outlook.

(https://steemitimages.com/p/LcTxR7u1XKaa3e4T1EBuBP18JezPvjFFo8gNuE9CiKHBn2tFzZyeXy57fRdTit9QP2T3mrMTxnpc91nnbAfzYjMXqnG4wGAEwJvWfJJtn3bKPD7cFmctuj2xNNEfA53D13qhzvr5wmnpimr17oF1RWyux?format=match&mode=fit&width=640)

January is about to be the best month in 10 years for Bitcoin, which rose by 40% in that time. Institutional investors, who until a fortnight ago invested in short funds ($25.5 million versus $5.7 million), showed the best demand for cryptocurrency in the past six months. The Bitcoin ETF had inflows of $116 million last week.

(https://steemitimages.com/p/LcTxR7u1XKaa3e4T1EBuBP18JezPvjFFo8gNuE9CiKHBn5azPxEzZvB4B1NH4YnrHcHYjMeRASHNoyhLByXRFm8zPQtZmpsFNTQdqHT1BvVsGV4pHPcxGU6qAjMFPbVcjD4eHDH4tzk5HuBHupXZtAhKU?format=match&mode=fit&width=640)

Whales, who withdrew an average of $25 million worth of Bitcoin daily from cryptocurrency exchanges in January, also contributed to its price growth. They didn't use this rise for the classic reserve sell-off, which supported the coin's momentum. The second factor was the massive closing of short positions (mainly from stop losses), which also acted as a trigger. In total positions liquidated, the share of bears reached 85%, higher than for bulls at the time of FTX's collapse.

(https://steemitimages.com/p/LcTxR7u1XKaa3e4T1EBuBP18JezPvjFFo8gNuE9CiKHBn3rgeUS4cPHRj2fYMRfrTSQqfrbxADqJpP11mTn8JoCwZgKwSmZDTMkQWpdW2se9CiyBEgCVj8cNf6NGqUYBMtoQmZQGWaPdr7zedvkWV6Wwp?format=match&mode=fit&width=640)

This suggests that Bitcoin's January 2023 rise was technical in nature as fundamental demand for the cryptocurrency remains low. Total open interest on cryptocurrency exchanges continues to decline, falling from 650,000 BTC in mid-November to the current 414,000 BTC. A similar pattern is shown by the decline in Bitcoin's overall turnover on the network, lagging significantly behind the annual average.

(https://steemitimages.com/p/LcTxR7u1XKaa3e4T1EBuBP18JezPvjFFo8gNuE9CiKHBn3tVeqnY3Ey5zuV1hCkLNLVzTVvetrhBYLToZHsJ7CeJMgSwmfVVPpgcdKXjQKYH2DHGaXyHvpPWbAwGzyqgFWPsAsA49t4M542QcdRhjkLZc?format=match&mode=fit&width=640)

Bitcoin is an oversold asset. As of 1 January, long-term holders of the last five years have incurred unrecorded losses.

(https://steemitimages.com/p/LcTxR7u1XKaa3e4T1EBuBP18JezPvjFFo8gNuE9CiKHBn5stpgXJBDeQEaxjqwT25KL4jsVPBrYBDHj5eektLyDg3FQVAcXSvTz1P3PN6tWhXLMPK4TN9jH98stAbKwtQXwyR9UgvHaK5snD2wgjUcDoc?format=match&mode=fit&width=640)

It'll be challenging to maintain the momentum gained in January due to the lack of widespread demand and persistent liquidity outflows from financial markets.


StormGain Analytics Team (https://stormgain.com/)
(a cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on February 02, 2023, 10:24:48 AM
Litecoin's prospects for a rally in 2023

Litecoin was created in 2011 to process transactions faster and cheaper. Blocks on its chain are created four times faster, and transaction speed reaches 56 transactions per second (TPS) compared to Bitcoin's 7 TPS. The coin must be mined, its emission is technically limited, and its mining reward regularly decreases. When comparing the two cryptocurrencies, Bitcoin is referred to as gold, and Litecoin is silver.

Despite some similarities with Bitcoin, future market developments, including the emergence of super-fast networks powered by smart contracts, have led to Litecoin's drop from 2nd place by market capitalisation to 13th. If the coin is 'silver', it really is quite undervalued and has strong arguments for a potential rally in 2023.

(https://steemitimages.com/p/gPCasciUWmEwHnsXKML7xF4NE4zxEVyvENsPKp9LmDaFuyQp2G26C415PT9tXhPSCkpWfT28BZ9Cc5JV6MNeVqWCsTYThySPiTnUKkui6F7FLBH6SS8dcR8Rjj2TrWjXFLab4TgJJBPngKWWTg?format=match&mode=fit&width=640)

Crypto market recovery

Last year's market downturn was caused by the US Federal Reserve's monetary policy tightening, which led to an outflow of liquidity from risky assets. This, in turn, exposed a number of crypto projects' failures and breaches of trust. Most of those caught up in these misfortunes have already left the market or are going through bankruptcy proceedings.

But this year, the pendulum is ready to swing in the opposite direction. Many economists believe that February and March could be the last months we'll see an interest rate hike from the Fed. A future pause and even an interest rate drop could lead to heightened demand for risky financial instruments. This is especially true amidst relatively high inflation.

(https://steemitimages.com/p/gPCasciUWmEwHnsXKML7xF4NE4zxEVyvENsPKp9LmDaFv1NgqmgXFG8xWNih39Re5yZ4DT3ZKu2uorRbt4KMXn9xwgHd7PDJgkjQzpDd1w9fZBMubbWm2aqXAFyjWMqowfAFgd8ajXiswRXhHx?format=match&mode=fit&width=640)

With the crypto market's overall rise, altcoins are outpacing Bitcoin. This trend was also seen in the 2017 and 2021 crypto rallies. Below is a chart of Bitcoin's market share relative to altcoins.

(https://steemitimages.com/p/gPCasciUWmEwHnsXKML7xF4NE4zxEVyvENsPKp9LmDaFv4Zf7xkuW7p6JTkivxkdHNrugdHrQpyvBFo4THvKNHPDjbY8WZGuSaB4wk1DrZkZn9oQUgaGvNR9j2QLD8Qx66HsGUj8uxLst9aLPx?format=match&mode=fit&width=640)

Litecoin was no exception. It had gained on Bitcoin before China issued a prohibition on financial organisations performing crypto-related operations in May 2021.

(https://steemitimages.com/p/gPCasciUWmEwHnsXKML7xF4NE4zxEVyvENsPKp9LmDaFuyiCnFSawY4ZbPPsLBPwtjQF59MGvVCjCKGSoUi1WVFtT4Gg28NQfSfMkyNTPP5HYfxNNaoVGmgPxQw1zUj1Fisi97nAqH18EkFXQz?format=match&mode=fit&width=640)

Regulatory guillotine

Litecoin could get some unexpected support from a change in status from a digital currency to a security on a Proof-of-Staking protocol. The head of the SEC announced such plans the day that Ethereum switched to its PoS algorithm. If the regulator succeeds in this regard, the largest crypto exchanges will likely refuse to support such coins.

If stablecoins and PoS coins are excluded from the overall ratings, Litecoin could find itself in third place behind Bitcoin and Dogecoin. Ripple is excluded from the ratings because the SEC has similar plans for it.

Halving

Halving is a deflationary mechanism that aims cut block mining rewards by half. In the long term, this leads to a coin's value. In 2023, Litecoin will be the first major PoW network to conduct halving, reducing its mining reward from 12.50 LTC to 6.25 LTC. This will happen around 3 August.

The bottom line

The facts laid out above indicate the high likelihood that the altcoin will outperform Bitcoin if the cryptocurrency market continues to recover. It also points to Litecoin rising significantly in the overall ratings if coins switch to PoS status.


StormGain Analytics Team (https://stormgain.com/)
(a cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on February 03, 2023, 12:13:58 PM
Ethereum lags behind Bitcoin because of the Shanghai threat

Bitcoin was up 40% in January, while Ethereum rose by just 32%. The lag of the largest altcoin is due to the upcoming Shanghai hardfork, an event that will see 16 million ETH (~$27 billion) unlocked for withdrawal.

(https://steemitimages.com/p/LcTxR7u1XKaa3e4T1EBuBP18JezPvjFFo8gNuE9CiKHBn3HvCxxFEA8i5Rd52iM3oT6Lx7mCnSaZ6GZMhjiCg65X8NJVUQupfYV5WCdMybp8ZDKNz4A1qhGJdsWZvKHztfAuyX6jj2W3gTcmoas3BZF3U?format=match&mode=fit&width=640)

In November 2020, a deposit contract was launched to attract validators and switch to PoS when the necessary liquidity is reached. Ethereum has since attracted 16.4 million ETH, or 13. 8% of the total supply.

(https://steemitimages.com/p/LcTxR7u1XKaa3e4T1EBuBP18JezPvjFFo8gNuE9CiKHBn62357TCy8R913YV8Xt4sky5uqeu1NMqYhCdLs5DDy9cowH9pCmGTvfzKaVDmL5QacEARCpH1m3bdUFgdmuKuyATAvzDVnuamYXgZPJ6PJhFt?format=match&mode=fit&width=640)

Staking yields were declining with the influx of validators and are now no more than 5%, and deposited funds are still staked. It'll only be possible to queue up for withdrawal after the Shanghai hardfork.

Despite a good start in 2023, 80% of validators are still suffering unrealised losses. Meanwhile, Ethereum lags behind Bitcoin and other promising altcoins. The annual return of 5% doesn't cover the difference, which may be disappointing for some investors.

(https://steemitimages.com/p/LcTxR7u1XKaa3e4T1EBuBP18JezPvjFFo8gNuE9CiKHBn4KBv6NGYEkiWkuAvpbpg23QhKi46Uyfv81DkJWQnwnvLo5bGX8hdCLqYSjaJ8Gv2bCGKGQiem6gMVe1V4fzUJUhEESD2Ffp5EytQpS2Pstp6?format=match&mode=fit&width=640)

To make matters worse, the external backdrop for Ethereum hasn't changed for the better since the switch to PoS. First, the requirement for validators to deposit funds in blocks of 32 ETH led to the development of pooling services. As a result, the top four participants (Lido, Coinbase, Kraken and Binance) hold a 56.2% share.

(https://steemitimages.com/p/LcTxR7u1XKaa3e4T1EBuBP18JezPvjFFo8gNuE9CiKHBn61XEjvTeZnrnFAZ5WHZQTsHF3zZqfUZ1Ywis7cvMcYfZbmctmsVXYi6XX9rN1kS5V9feLj652iFNVkHZQN9oRu3NxgomdaxV1v5roGqrNwjt?format=match&mode=fit&width=640)

Increased centralisation has led to increased censorship. Since last October, the percentage of transactions approved by the US Treasury Department's Office of Foreign Assets Control (OFAC) has exceeded 60%. One of the largest pools, AntPool, has refused to support ETH 2.0, citing the risk of transaction censorship.

Second, on the day of the move to the new protocol, the SEC chairman announced that he would seek security status for Ethereum as users had the opportunity to generate a passive income via staking. Regulatory pressure on Ethereum will increase if the SEC wins its court case against Ripple about whether the coin is actually a security. The judge is due to deliver the verdict this year.

Summing up the risks involved, some investors can't wait for the restrictions to be lifted to get out of ETH. The impact of unlocking on its price will be stretched over time, as validators will need to queue up to avoid both a collapse in price and a liquidity crisis. The Shanghai hardfork is scheduled to take place in March 2023.


StormGain Analytics Team (https://stormgain.com/)
(a cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on February 06, 2023, 10:09:53 AM
Most Decentralised Crypto List

Decentralisation is one of the core principles of the very idea of cryptocurrencies, but the level of decentralisation can vary greatly among different projects. In this article, we'll break down which cryptocurrencies can be considered decentralised and provide a list of the most decentralised crypto coins.

What is decentralisation in cryptocurrency?

Decentralisation in cryptocurrency means that transactions in that cryptocurrency network are not controlled by a single central authority but are recorded and verified by a network of users. This means that no single entity has the ability to manipulate or shut down the network. You can read more about the difference between decentralised and centralised cryptocurrencies in our previous article.

Which coins are decentralised?

By definition, a decentralised cryptocurrency must be susceptible to 51% attacks whether by hashrate, stake, and/or other permissionlessly-acquirable resources. If a crypto can't be 51% attacked, it is permissioned and centralised. — Charlie Lee, creator of Litecoin

Decentralisation is a relative concept, and the level of decentralisation varies from one cryptocurrency to another. There are a number of criteria by which the decentralisation of a cryptocurrency is assessed:

- Decentralised network. The cryptocurrency's network should be decentralised with a large number of nodes that validate transactions and maintain the blockchain. The more nodes the network consists of, the more decentralised it is.
- Decentralised control. Network nodes should be controlled by a large number of different people and/or organisations.
- Decentralised coin issuance. New coins should be generated in a decentralised way by a network of nodes through mining or forging.
- Accessibility. The cryptocurrency can be used by anyone, no matter who they are or what country they are in.
- Transparency. The cryptocurrency's blockchain should be open and transparent, allowing anyone to view transactions.
- Decentralised governance. The cryptocurrency's development and decision-making should be decentralised and open to participation from users rather than being controlled by a central authority.
- Geographical decentralisation. Network nodes should be distributed across different countries. If most nodes are concentrated in one country, there is an increased risk of government interference with the network.
- Decentralised coin ownership. If the majority of a given cryptocurrency's coins are owned by a small number of individuals, there is an increased risk of market manipulation of the coin's price.
- No single point of failure. The network should not have any single point of failure, meaning that if one node or component fails, the network can still function.

Most decentralised cryptocurrencies

The number of different cryptocurrencies has now exceeded 20,000, and all of them have varying degrees of decentralisation. So, which of them are the most decentralised? Let's find out.

The most decentralised coins list

The degree of decentralisation of an individual cryptocurrency is not always easy to assess. Many cryptocurrencies that are widely considered highly decentralised are more centralised than is commonly thought because decentralisation can gradually erode over time as various factors conspire to concentrate power and control within the hands of a few actors. Nevertheless, we have compiled a list of crypto coins considered to be the most decentralised at the moment.

Bitcoin (BTC)

(https://steemitimages.com/p/7b4bio5hobgskW8qdPdvSqcwwJTvbiCMpGmRey1Rtd8H5rXgAkvFMgoJNZz9WhQUmbvT99EdijwpV7hYXYffPxqwUPPQqZQpMf3g4J2nmSxTuF1WGWiiCRfJx45De7EJskmiPsqW1FfVLKyjduGfCLjsTtoY?format=match&mode=fit&width=640)

The first and best-known cryptocurrency, Bitcoin, is widely considered one of the most decentralised digital currencies, if not the most decentralised. The Bitcoin network is made up of more than 13,000 nodes spread across the world. Bitcoin is based on the Proof-of-Work consensus mechanism, which requires miners to compete to validate transactions and add new blocks to the blockchain. In theory, anyone can become a Bitcoin miner.

Furthermore, Bitcoin has a decentralised development community with a transparent process for making changes to the protocol. This ensures that decisions are made through consensus and are not subject to the influence of a single individual or group.

However, the intense competition among Bitcoin miners means that it's only worthwhile to mine it on special, rather expensive equipment, which increases the entry threshold into mining and reduces decentralisation. In addition, to receive consistent mining rewards, individual miners join together to form mining pools. This has led to the four largest mining pools now controlling more than 75% of Bitcoin's hashing power.

(https://steemitimages.com/p/7b4bio5hobgskW8qdPdvSqcwwJTvbiCMpGmRey1Rtd8H5rfibVyVCA5buHimCbmnER2sQxxCopiGqz12vXiWqCkahG3WYX32byzN3TAqot4zqkdEz1sgCURMVFJv6CuLmDs8wpjiCNS1qxrt2PhrgTDaXb74?format=match&mode=fit&width=640)

Ethereum (ETH)

The second most-popular cryptocurrency also has a fairly high degree of decentralisation. Its network consists of more than 10,000 nodes. However, more than half of them are located in one country, the US. Validators are distributed more evenly between pools than in the case of Bitcoin.

Ethereum's biggest weakness in terms of decentralisation is the centralised leadership represented by Vitalik Buterin, who has enormous influence over the network's development.

(https://steemitimages.com/p/7b4bio5hobgskW8qdPdvSqcwwJTvbiCMpGmRey1Rtd8H5rRYysUY572x5sZYNokkpkzhKGyVt6THc7Z7ttmVoipDw2hGGuL7KbnxVi79qJjFjzeJGuJYULmjmXKRRfvedWBxMSWopxuJzMb5ewQHJyXTgoNv?format=match&mode=fit&width=640)

Monero (XMR)

One of the oldest and most popular anonymous cryptocurrencies, Monero also retains a high degree of decentralisation. Its network consists of more than 2,000 nodes located in dozens of countries around the world. Unlike Bitcoin, Monero does not require expensive equipment to mine, which lowers the entry threshold and increases decentralisation. However, Monero miners still have to join mining pools. And, as with Bitcoin, the four largest pools control more than 85% of the network's hashing power. Moreover, the Monero development community is more centralised than those of Bitcoin or Ethereum.

(https://steemitimages.com/p/7b4bio5hobgskW8qdPdvSqcwwJTvbiCMpGmRey1Rtd8H5qfTq3uU2N4DudmPoNhqtJCqoZGH38nZAabqPage3JTpeSuNWeYR5LQwsXuxa59FbaLaupRcvSaVVyEHcdqSMZm48Vbin9gHp64KzHkjBRuAyEHc?format=match&mode=fit&width=640)

Litecoin (LTC)

One of the oldest cryptocurrencies, Litecoin launched in 2011. The Litecoin network currently has more than 1,000 nodes. As with other Proof-of-Work cryptocurrencies, a threat to Litecoin's decentralisation is the centralisation of mining pools. In addition, as with Ethereum, Litecoin's decentralisation is weakened by the fact that it has a strong leader, Charlie Lee.

(https://steemitimages.com/p/7b4bio5hobgskW8qdPdvSqcwwJTvbiCMpGmRey1Rtd8H5raTN6uwaALh2X9EKbyr6ZEF6L3omdQAyjQgGm2ju16ubQ528SXZo9f3JntYRSj1sEvwSvGmCdi6DWbcw9KhpHtQejdHFigXDceiCBd1z2J6MiNJ?format=match&mode=fit&width=640)

Decentralised stablecoins list

Stablecoins (https://stormgain.com/blog/best-stablecoins-list) are digital assets whose price is pegged to the price of an underlying asset, usually fiat currency. Given the importance of stablecoins to the cryptocurrency industry, it is not surprising that, in addition to centralised stablecoins, an alternative in the form of decentralised ones has emerged.


(https://steemitimages.com/p/6KincH1mMRDELmKnnjdU4UHt2fC2WfFZBpGeMyg4QTCSizVxEUD95ry2mKSM1XuNum4u2SuhuahW6QASxfc4jCNSgvUi5TGKaUBWiYaozuv9zbaAPP2YyHTjDJY2Ez3ewmZmveXT8YKnMdQnvegoEfHAJ2CntTKQHBkGgejrWLZun4pjTJbW46?format=match&mode=fit&width=640)
The most popular decentralised stablecoins (as of 30/01/23)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on February 07, 2023, 10:08:04 AM
SHIB outperforms DOGE in anticipation of Shibarium

In 2023, the meme cryptocurrency economy has risen by 40% and is now worth $22.6 billion. The segment's initial coin, Dogecoin (DOGE), is up 29%, while Shiba Inu (SHIB) has gained 75%. The significant overtaking is associated with the upcoming launch of the second-level (L2) blockchain Shibarium.

(https://steemitimages.com/p/32FTXiZsHoAW6noHJDhrg3W8ZKHVFSsLYM859aTDCF8iErNfLbsnQT7zh6z4jfKipMHhcmEpoa1hs5cKg24VGpF4xSFm8xREeqr8VTm6sW3XefMohipN716AWqSdNSDBSPsrNjRJUfdrtZ74?format=match&mode=fit&width=640)

Dogecoin is a self-sustaining first-level blockchain, while Shiba Inu is an ERC-20 token on the Ethereum network. All 1 quadrillion Shiba Inu coins were issued at once by an anonymous user with the nickname Ryoshi. The developer's initial goal was to overtake DOGE in terms of market capitalisation, a goal that has already been achieved.

A lot of media attention is needed to promote and attract attention to DOGE clones, the number of which is approaching a hundred on CoinMarketCap alone. Whether intentionally or by accident, Elon Musk — nicknamed the Dogefather on social media — contributed to SHIB's success.

(https://steemitimages.com/p/32FTXiZsHoAW6noHJDhrg3W8ZKHVFSsLYM859aTDCF8iErGhW33sk2denPs5TkBWF1z8GBzD7TUYsXzzD2p3fReDXtNCJL2Vij8q9fpE4JAwBGF6MUkAXmS6ntEWkZ8nFnDS89WLWK7YK7Tk?format=match&mode=fit&width=640)

Two months later, the developers sent half of the created coins to Vitalik Buterin as a sign of gratitude for his contribution to the development of the crypto industry. At that time, the gift was worth $6.7 billion. The PR move could have greatly contributed to SHIB's growth, but Buterin simply burned 90% of the donated coins, asking not to do that again.

The cold shoulder from Buterin may have been driven in part by a desire to keep network costs from rising. SHIB's trading activity has skyrocketed, which has increased pressure on Ethereum and made it difficult to expand its own coin. In May, the average commission on some days exceeded $50.

(https://steemitimages.com/p/32FTXiZsHoAW6noHJDhrg3W8ZKHVFSsLYM859aTDCF8iErY8TkfZtveAru2gTetqLv82RGhPiMa5ThxtDnTZtGvxJyWQ9Zi5yEVvoFCr39CQJkVcoqH4g4bV2w4HvsMCrcFZ1XQpscPSkZ1Y?format=match&mode=fit&width=640)

Now, SHIB's developers want to reduce their dependence on Ethereum by running the Shibarium blockchain on top of the main network. This will allow them to reduce commission and increase transaction speeds.

On 15 January, the official Shiba Inu blog featured an entry about the imminent deployment of the L2 blockchain. The developers expect a significant increase in SHIB's use since the innovation will provide the ability to create NFTs, games, metaverses and other decentralised applications on Shibarium. Judging by SHIB's movement relative to DOGE, trades are definitely buying the rumour.


StormGain Analytics Team (https://stormgain.com/)
(a cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on February 08, 2023, 09:51:13 AM
Coming soon: Bitcoin at $1.5 million

Bitcoin's 40% rise in January has renewed talk of the imminent end to the bear cycle. Some metrics hint at the cryptocurrency's return to its primary trend, and media investors are once again competing in their price forecasts.

(https://steemitimages.com/p/7258xSVeJbKkzXhyseBP4PYz11eBDT8sW2oR1a4vfVFS6HbB7vv2gjKkK5kzxnS8bbFtjWzb51QUFcXFg6g83mwFo3rY2SxtajmcJYApwm4Gvgiu9wmxJhzTQeWiqJVNd2iga8454fZzW?format=match&mode=fit&width=640)

The May fall that began with the collapse of the Terra project (LUNA) led to the ratio of realised profits against realised losses falling into the red zone. In other words, more market participants recorded losses from trading activity (N bought and sold BTC). The situation changed dramatically last month when Bitcoin rose above $20,000.

(https://steemitimages.com/p/7258xSVeJbKkzXhyseBP4PYz11eBDT8sW2oR1a4vfVFS6Hfpqm5LyTXtyyTVagPRVxfzv8DSz9bLbn67GvP1tSWFYkaxYgp8Upcb6UrfTBuS63yMnz6tCcHJ6A8Sn9BPCEt5zszR98f1x?format=match&mode=fit&width=640)

Another metric hinting at the end of the bear cycle is the net unrealised profit to unrealised loss ratio. The indicator shows the result moving to addresses for coins that were kept there (N bought but didn't sell BTC). The average holder was once again in the black.

If we look at cycles when the average holder went under water and splashed back up to the top, the current phase will be comparable to bearish markets from past years. The 2022 bottom took 166 days to pass, while the 2018 bottom took 134 days.

(https://steemitimages.com/p/7258xSVeJbKkzXhyseBP4PYz11eBDT8sW2oR1a4vfVFS6HdKKtoR4p3tVWTjC3P4i6Bzm754yahvq4s3ewZKe1xP76BBnQgcT6eXSrRc1Y8ka8UYAdTn5cTc7446TuJkcm64TxVzCXbKC?format=match&mode=fit&width=640)

But not all metrics indicate that we've reached the turning point. And while short-term holders have entered profitable territory, long-term holders (those who've held coins for six months or longer) remain in the red zone. In the last bear phase, it took them 291 days to return to black, while the current one has been going for 265 days now.

(https://steemitimages.com/p/7258xSVeJbKkzXhyseBP4PYz11eBDT8sW2oR1a4vfVFS6JHsBogReEsLEDRMb8CGriSPpNx9SBZLXfzYYQe2ZizDFrRkeeZTVmFHbc2sioBbPovfqBxi9mCjYUaTbMxYytHPSURg89hvv?format=match&mode=fit&width=640)

At the same time, estimates of the cryptocurrency's prospects have improved significantly. In the past two weeks, institutional investors using exchange funds have invested $184 million in Bitcoin's growth. This is the best figure for the past six months.

(https://steemitimages.com/p/7258xSVeJbKkzXhyseBP4PYz11eBDT8sW2oR1a4vfVFS6JUADVjMCzXRpPdSw7j6aQnDq28rcmG7KFvGionBi7jAJMgMayvpXT1nbfLj5kX3QLvoR7aR3eGmp8zzqWMCqQbjQHdbR2HYz?format=match&mode=fit&width=640)

Recently, analysts at Ark Invest shocked the world with their prediction that Bitcoin would continue to rise through 2030.

(https://steemitimages.com/p/7258xSVeJbKkzXhyseBP4PYz11eBDT8sW2oR1a4vfVFS6HocsNXkkFjUHV6xTVs18KJ9q31FHqTpeWq9DLvZHAPd2NbAcssyuG2Cje9pucG1fipWrqGyQj7tozN3vyZ7wHktzUtqo2Tx2?format=match&mode=fit&width=640)

Their pessimistic scenario assumes a rise to $259,000, while their optimistic one suggests the cryptocurrency will reach $1.5 million per coin. When explaining their high estimate, CEO Cathie Wood called Bitcoin a "defence against wealth confiscation", hinting at rising inflation caused by regulators' unbridled monetary policy.


StormGain Analytics Team (https://stormgain.com/)
(a cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on February 09, 2023, 10:02:56 AM
Avalanche's bull trap

In 2023, Avalanche (AVAX) doubled in value to reach $21, showing some of the best gains in the Top 20 biggest coins by market capitalisation. The driver behind this growth was news of a fully-fledged partnership with Amazon. However, the metrics paint a picture of premature optimism and suggest that investors risk falling into a bull trap.

(https://steemitimages.com/p/RGgukq5E6HBM2jscGd4Sszpv94XxHH2uqxMY9z21vaqHt4UW7isda6mXRVubUprnyQVutQQ11D8PP9TqCM7FTKEqSzePubgF53RbtbaRPaky767e9m2Rv4TJmuMEdca?format=match&mode=fit&width=640)

On 12 January, we wrote about a partnership agreeement reached between Avalanche and AWS which would see Amazon's cloud services users granted access to new services based on blockchain solutions. As soon as the news was released, the coin shot up 66%.

Over the four days that followed, bears made severe losses as the total amount of funds liquidated exceeded $10 million.

(https://steemitimages.com/p/RGgukq5E6HBM2jscGd4Sszpv94XxHH2uqxMY9z21vaqHt2CLAkYa9TxNeLN2KckaMKa3CPAR9xNu3V9VtvC9j7GDDELezYRzczT4uhqpA9uc1ijYGEFd8HyGhUSF1dY?format=match&mode=fit&width=640)

The triggerring of a significant number of stop loss orders led to even greater price rises and the emergence of excessive optimistic sentiment. As of 24 January, the lending rate has been well and truly in positive territory. This would suggest that bulls outnumber bears in open futures contracts. As a result, a sudden dip in the coin's price below $18 will tip the scales in the opposite direction, meanings bulls will take significant losses from the subsequent liquidation of positions.

(https://steemitimages.com/p/RGgukq5E6HBM2jscGd4Sszpv94XxHH2uqxMY9z21vaqHt2NxqVgk9y8ax8xXdhfSsPhFBiX2aTTWBf8xya3Vem5s8t33iJ1TReDYREkPEuTwSEW4rQTRaXQWxp8gGva?format=match&mode=fit&width=640)

The absence of positive fundamentals would indicate that such a scenario is highly likely. Indeed, the total transaction volume has been in decline since Autumn 2022, while the number of active wallet addresses is close to an annual low.

(https://steemitimages.com/p/RGgukq5E6HBM2jscGd4Sszpv94XxHH2uqxMY9z21vaqHt2j1UXRvxr9vZ3iEhXjNUztE5PX4vp8H73VRP9YFDiA1mUMxMQZSu3stYLsh7Z8p7ic1ysRwYosVjAUrhZG?format=match&mode=fit&width=640)

There has also been a significant drop in demand for AVAX in the DeFi sector, where the volume of blocked funds has fallen 33% to 46.7 million coins this year alone. To put this into perspective, Tron has increased its TVL by 4% to 78.6 million coins over this same period.

(https://steemitimages.com/p/RGgukq5E6HBM2jscGd4Sszpv94XxHH2uqxMY9z21vaqHt4WUHzZZmbFnf3iRkqNmH9pGnuyNJxakSVGoxcUD5KgHZjM6c8LeGRfmUGcwZR5rzeWNyYXHhHj6dpsPZZx?format=match&mode=fit&width=640)

The partnership with AWS proved an excellent marketing ploy, but the hard metrics simply didn't manage to generate a meaningful spike in demand for the Avalanche network. As a consequence, the current situation could easily turn into a bull trap for investors.


StormGain Analytics Team (https://stormgain.com/)
(a cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on February 10, 2023, 11:56:26 AM
US investors may be banned from participating in ETH staking

On the day of Ethereum's move to the new protocol, Garry Gensler, chairman of the US SEC, promised to seek to label all coins on PoS blockchains as securities. This threat, along with the upcoming unlocking of 16.5 million ETH worth $27 billion in March, has already resulted in the altcoin lagging behind Bitcoin during the January rise.

(https://steemitimages.com/p/7b4bio5hobgskW8qdPdvSqcwwJTvbiCMpGmRey1Rtd8H5qkgdPjpvvGW9EoA9TL2b9Vt6RFWy6xzEXJxinTXNBxi33WzX1PXkCeML8vWnBfgk7NpVS37mweZTtniHicnNZTtHL1Udynp7ySWPAPiYUkgNKcS?format=match&mode=fit&width=640)

Because of growing fears of ETH's collapse, open interest in futures in 2023 dropped by 29% on the CME. Meanwhile, interest in BTC contracts saw a 6% increase.

(https://steemitimages.com/p/7b4bio5hobgskW8qdPdvSqcwwJTvbiCMpGmRey1Rtd8H5quRWDduuEmSdD1A6Vb5dP62aw5RRchHxFUWePejneKRV1hJhEUWiYC241MqUR3mMXzQqhzWgV2ufd4aETCyWiQiFaZ78hYoPSfj8fFYhGkjUrY6?format=match&mode=fit&width=640)

It seems as though the regulator is ready to take its first step towards tightening cryptocurrency regulation on PoS coins, starting with banning retail investors from participating in staking. Coinbase CEO Brian Armstrong shared the rumours, describing this twist as "a terrible path for the US…" and "a matter of national security". The SEC refused to comment on the speculations.

(https://steemitimages.com/p/7b4bio5hobgskW8qdPdvSqcwwJTvbiCMpGmRey1Rtd8H5rXP4azCqHYXw2NnnYGDMWGUBCEURZwrBhA5n22wioDrGvt1SBRgt3FFBzKSsNtkGHwnZsaacqY1SGPXKVweXPrn1rpi4BrZpm4oouxuedeCFyEN?format=match&mode=fit&width=640)

Banning staking in the US would lead to a natural outflow of capital to alternative jurisdictions. The restriction will primarily affect smaller investors, who will be forced to turn to liquidity aggregators because of the need to stake blocks of 32 ETH (~$52,000). The LDO management token of the Lido Finance platform has already reacted positively to the "terrible path", jumping 10% overnight.

(https://steemitimages.com/p/7b4bio5hobgskW8qdPdvSqcwwJTvbiCMpGmRey1Rtd8H5qc99i8ZD3YPheVmr84G2yiLBoRSacmjtZwwDGd5KaZozVsxdXzthwzF71cSPC15c5f6dqmCkPsKpE8HLSVxTeRp5QYNUNeAPuDEaENmeBQ4ujDQ?format=match&mode=fit&width=640)

Lido is the global leader in Ethereum staking with a 29.3% share, and if we consider liquidity pools alone, that share rises to 74%.

(https://steemitimages.com/p/7b4bio5hobgskW8qdPdvSqcwwJTvbiCMpGmRey1Rtd8H5rRnGNWsuBJst1kim5uMdk5RDV7t1tXBAzKaufNywWLCvtPfKfdiBMYdMtV761dYes8U3ayG29Jy69nuTg1qkkqQ9XeiDmkx5hxdHGBC7ELMQ366?format=match&mode=fit&width=640)

It's difficult to predict how far the SEC is willing to go in its crackdown on PoS coins, but the threat hanging over them will restrain investment flows coming from US investors. In the medium-term perspective, Ethereum is likely to keep lagging behind Bitcoin.


StormGain Analytics Team (https://stormgain.com/)
(a cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on February 13, 2023, 10:26:11 AM
Winter is coming: the SEC strikes a blow to staking

The precedent has far-reaching implications for the cryptocurrency industry. The collapse of FTX (including its US division) exposed the regulator's inability to mitigate financial risks. The problem can be solved in two ways: by improving regulatory rules or by restricting citizens' access to cryptocurrencies. The SEC has chosen the latter.

Just yesterday, we shared Coinbase CEO Brian Armstrong's concerns about a possible ban on access to staking. And just a few hours later, the Kraken exchange announced that it was closing the service and paying a $30 million fine.

Proof-of-Stake (PoS) coins offer investors the opportunity to generate passive income from staking. This makes it possible to pass the Howey Test from 1946 to determine if an asset is a "security". The criteria include:

- Investing money
- In a common enterprise
- With a reasonable expectation of profits
- To be derived from the efforts of others

On the day of Ethereum's move to the new protocol, SEC Chairman Gary Gensler promised to apply the new status to all PoS coins. Because it is legally challenging to pull this off, the regulator has taken the easiest route: banning access to staking for US citizens.

Kraken was the first to receive a notice to this effect and a $30 million fine. The crypto exchange has been accused of failing to register a service to generate passive profits for investors. The irony of the situation is that the SEC hasn't developed or presented a mechanism for such registration. SEC Commissioner Hester Peirce has publicly criticised her employer, calling it lazy.

(https://steemitimages.com/p/JvFFVmatwWHRfvmtd53nmEJ94xpKydwmbSC5H5svBACH7xybr8tjuvJbuyLuhdQWBJ3UAUfqTxmKgLJfw93AWDzcAzMEhP21p5F3N4JqFgvwYBb9juc4RrXJpsfVDLgtQBYDLgSBB4?format=match&mode=fit&width=640)

Coinbase is undergoing a similar inspection. It's likely to face a similar outcome: a fine and a ban on retail investors participating in staking.

Ethereum will be the first to be hit by the SEC's ban, as Kraken and Coinbase's joint share in the staking exceeds 20%. The altcoin lost 2% against Bitcoin overnight. The main pressure will come with the Shanghai hardfork (expected to take place around March) when US users will get their ETH back.

(https://steemitimages.com/p/JvFFVmatwWHRfvmtd53nmEJ94xpKydwmbSC5H5svBACH7ycWAtajj9uPG565tBCHAH3RoEWYfybSwA5GDjKuv4ZCuRf13tkpGJG856GANzenARnhACpTCaaY1pRsEzEXAyHr7PeQzS?format=match&mode=fit&width=640)

This tightening of the screws goes hand in hand with court cases and investigations into Tether, Ripple, and Paxos (which is responsible for USDP and BUSD liquidity), as well as the development of a law covering stablecoins. According to Bloomberg analyst Mike McGlone, cryptocurrencies could face "their first real recession".


StormGain Analytics Team (https://stormgain.com/)
(a cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on February 14, 2023, 10:22:14 AM
SEC prepares to hit Binance

FTX investors' multibillion-dollar losses have damaged the regulator's image. To justify poor oversight of the industry, the SEC is starting 2023 off with a crackdown. Key areas for tightening are PoS coins and stablecoins, with BUSD from Binance being in the middle of both.

PoS coins offer passive income opportunities, enabling them to be treated as securities. In such a case, the crypto exchange must have an appropriate licence, and stricter requirements are imposed on traders.

In making its claims against aggregators, the SEC ignores legal loopholes and the lack of a mechanism for registering staking services. A pre-trial settlement was reached with Kraken last week, in which the company was fined $30 million and had its access to passive income closed. Because the cryptocurrency's share of Ethereum staking is 9%, the altcoin has lost 3.6% against Bitcoin over the past four days.

(https://steemitimages.com/p/vM1pGHgNcyCXUWJECrZbvn1NMPj1oFGUo3gYfF3NNPRD9THM7w92qCqkHBkT2KPf9Z3QvoomqgHWZnkvcFFi5zEMn2QN1Tbkj4JMfUzSbtNZdBMTVDdZHHcibzTK9u5m1dxxQ3p?format=match&mode=fit&width=640)

Binance offers investors an opportunity to make passive income by staking BUSD, which is issued by Paxos Trust Company. Paxos was one of the first to obtain a BitLicense and is regulated by the NYDFS. In addition to BUSD, Paxos has also launched the USDP stablecoin and PAXG gold-linked token.

Yesterday, the WSJ published an article on the SEC's plans to sue Paxos for issuing BUSD as an unregistered security. In addition to pressure from the SEC, the NYDFS also initiated its investigation into Paxos.

Claims against Paxos cover more than just staking. Earlier this year, Bloomberg published an article on the security gap in BUSD's duplicate. The stablecoin from Paxos is an ERC-20 token. Binance is issuing its own BUSD in the form of a BEP-20 coin to expand its range of services. B-token supply has reportedly exceeded collateral by more than $1 billion in some periods.

(https://steemitimages.com/p/vM1pGHgNcyCXUWJECrZbvn1NMPj1oFGUo3gYfF3NNPRD9X72M2ZjC6HZaUpX1bJtQx3KFqxU9keJiyiYmUNST4YxEwJMfqknC8vhALZgmyyyFeW1rsCEgTSFL8jjjN42JqLuURU?format=match&mode=fit&width=640)

The presence of systemic risk poses a threat to both issuers. Cryptocurrency exchange representatives acknowledged a management error after a while.

It's quite possible that as part of a pre-trial settlement, Paxos will terminate its business relationship with Binance and stop supporting BUSD. If that happens, the crypto exchange would remain the only guarantor of the stablecoin, which isn't good for its popularity.


StormGain Analytics Team (https://stormgain.com/)
(a cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on February 15, 2023, 01:10:50 PM
Ordinals leads to Bitcoin network record update

The Ordinals protocol numbers mined satoshis, recording the order in which they're placed. This makes it possible to attach random content to coins, be it graphics or other media files. In other words, the Bitcoin network now has the ability to coin and resell digital objects (similar to NFTs), which has caused anger among some and excitement among others.

(https://steemitimages.com/p/3zpz8WQe4SNGWd7TzozjPgq3rggennavDx3XPY35pEAVnqHccr78uQmNetckAeebPivUZPRHBy6aMpcr1E7pfrcYrXTAy32jVGL9nmaUVD3e5ThFEQ1qvdzHkiUrphitDFiCWC1W9dMgVney3MsL?format=match&mode=fit&width=640)

The Ordinals protocol was launched in late January by Casey Rodarmor. Check out his blog for more details on the new protocol. In order for it to operate fully, a Taproot-enabled node must be deployed. Because of the high interest in Ordinals, Taproot adoption jumped by 9.4%, and usage rose by 4.2%.

(https://steemitimages.com/p/3zpz8WQe4SNGWd7TzozjPgq3rggennavDx3XPY35pEAVnpvNA8QHfPFSP6gYEq26GuU2YfFaGgf2DnhLezA2z6syBXY4EwyEXHA6v3tBQAgD44gGQ4shXVygYRyVqGNDys3cRefvq7Mn5PrZr5Jv?format=match&mode=fit&width=640)

The average transaction fee has doubled in the past 30 days to $1.80, while the average block size has increased from a steady 1.5-2.0 Mbytes to 3.0-3.5 Mbytes.

(https://steemitimages.com/p/3zpz8WQe4SNGWd7TzozjPgq3rggennavDx3XPY35pEAVnpq9fhPb3XSqxaj7Tcb8GZ9oiaUwQLh9XwaJhjwmXBfYz4rADcfrXho1gcz85WNJY61nPvweM4ZnYKnEt6QXYxSYrsguNzPREmeNnmYz?format=match&mode=fit&width=640)

In less than a month, 80,000 ordinals were minted, and the number of Bitcoin addresses with a non-zero balance reached an all-time high of 44 million.

(https://steemitimages.com/p/3zpz8WQe4SNGWd7TzozjPgq3rggennavDx3XPY35pEAVnpxgDAhN579JrwAXSA88tkQQjjNu7U8adWWSE5BBmDgvpeEw9gTkRr91oJf84otk1816HUpzTn5uCV6DG3mXoqRmzN7rSkdJoUfDU9kJ?format=match&mode=fit&width=640)

The new feature has received mixed reviews from the community. Most critics cite Satoshi Nakamoto's will, which saw Bitcoin being created solely for financial transactions. Rene Pickhardt, the lead developer of the Lightning Network, has called the situation "spamming", while radical members of the market are even calling for censorship.

On the other hand, supporters of Ordinals insist the network has progressed to a new quality that Nakamoto couldn't have foreseen. The rise in demand for block space will increase fees, resulting in higher miners' profits and increased decentralisation. This will become especially relevant after the last Bitcoin is mined.

(https://steemitimages.com/p/3zpz8WQe4SNGWd7TzozjPgq3rggennavDx3XPY35pEAVnpv3mFoEeLAhMN6H1F7yzMKaw7hc1gsHirZCememFoTfohfgF1vQ1Faj7rWY9HJXdGvcqUxDcE4t92vazh4cLLP2VTwpfMpG3jTVyfHp?format=match&mode=fit&width=640)

So far, the invention of Ordinals hasn't affected Bitcoin's price that much. But the latest trends indicate a steady demand for a new way of storing and transferring digital objects.


StormGain Analytics Team (https://stormgain.com/)
(a cryptocurrency trading, exchange and storage platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on February 16, 2023, 11:08:32 AM
Binance under siege, plus record outflows in 2023

Regulators began the new year with a massive strike against the cryptocurrency market. Kraken, which was (essentially) banned from providing staking services, was the first crypto exchange to suffer a blow. Paxos, which is responsible for issuing USDP, PAXG and the Binance BUSD stablecoin, was next up.

The SEC sent Paxos a Wells Notice (pre-enforcement action notification) despite regular audits and a licence from the New York Department of Financial Services (NYDFS), which has also initiated an investigation against the company. No details have been disclosed yet, but the claims are likely due to Paxos' partnership with Binance, a potential criminal case against the cryptocurrency exchange's management, the existence of an unsecured BUSD duplicate on the BEP-20 token standard and the possible recognition of stablecoin as a security.

Upon receiving the notice, Paxos announced that it would stop minting BUSD (an ERC-20 token) from 21 February. Support for existing coins will remain in place until at least February 2024. In other words, only one-way exchanges remain, and the stablecoins coming to Paxos will be burned.

It's worth noting that Binance independently issues BUSD in the form of the BEP-20 token since it is the token's sole guarantor. Meanwhile, in 2021, supply exceeded collateral by more than $1 billion, and client funds were sometimes mixed with reserves. In a warning to consumers, NYDFS directly pointed to the lack of connection of Paxos and regulators with the BEP-20 duplicate, thereby hinting at its attitude to what is happening.

(https://steemitimages.com/p/7258xSVeJbKkzXhyseBP4PYz11eBDT8sW2oR1a4vfVFS6JNxigpJYTuoiGz9ih813rpuCYYxcd7SmNxCwCon6hdJEYwijCDnAq673N3dZVWNM3YVWYEa7zxZ5ngSjLDuksyRPQDxmJwaE?format=match&mode=fit&width=640)

Paxos ending support for BUSD led to a significant outflow of funds from the stablecoin. Users rushed to exchange BUSD for USDT, resulting in BUSD's capitalisation falling by 6% to $15.3 billion in two days.

(https://steemitimages.com/p/7258xSVeJbKkzXhyseBP4PYz11eBDT8sW2oR1a4vfVFS6HdVhSFJDPZbU7gdB4xXpMwquqyybLr2igukCMy9Y2ooqH6wpittYqvwsFwFDHnbNAEZBVmudcCtMApnKYnaTYR7so9saikai?format=match&mode=fit&width=640)

Anticipating possible shocks and liquidity difficulties, some users rushed to leave the crypto exchange. In the previous 24 hours, the net outflows from Binance totalled $831 million, a record high since FTX's collapse.

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The shocks impacted the value of the native coin, as well, with BNB down 6% to $297 in the same period.

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According to Bloomberg, a complaint against Binance to the NYDFS about under-secured BUSD was filed by Circle last year. This is a continuation of the undeclared war between stablecoin issuers, which escalated with the introduction in September 2022 of the automatic conversion of some stablecoins, including USDC, to BUSD on Binance.

Tensions between companies don't justify lapses in financial management, and increased industry oversight threatens to lead to further claims against market participants.


StormGain Analytical Group (https://stormgain.com/)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on February 17, 2023, 02:09:35 PM
Three reasons Bitcoin's price is rising

While old-school investors, including Warren Buffett and Charlie Munger, are fighting windmills, Bitcoin is testing a six-month high. And there are three reasons for that.

(https://steemitimages.com/p/21PRtjKRXPQybj4WUXScWv5QPLninWRxfbcWNsx7SenD7FqQnd1PwoHDGw5ad2JZH4A1y8eyuXf9DVpMgLN5Arpt2QCuv1sRTDNvzVfUYXrFPkAU3KzDFQkqzQ8BXP2MUYorH4yQJbnWdaDKqQUKKJe?format=match&mode=fit&width=640)

Ordinals

A tiny revolution in the crypto industry is still going unnoticed. Launched in late January, the Ordinals protocol allows digital objects to be transferred on the Bitcoin network. Before that, the leading cryptocurrency's scope of application had focused solely on financial transactions. Now, with the ability to number satoshis sequentially, users can share any digital object, be it audio, video or images.

Despite some restrictions, high costs and the absence (so far) of exchange platforms, the number of Ordinals has surpassed 100,000. CryptoPunks has already registered a sale worth 9.5 BTC (~$233,000).

The explosive interest in Ordinals has increased online activity, updating the record for the number of non-zero wallets to 44 million and higher commissions. Miners made $876,000 in extra income in less than a month.

(https://steemitimages.com/p/21PRtjKRXPQybj4WUXScWv5QPLninWRxfbcWNsx7SenD7FvYkgRes24uGNy89vtV1TjnScp49tBX9T63btRgSq3Q1TThyYzHJUNXA9xzx2Hg4XrNMVkitj23tdsLESLAB7K4vbs4icSPVcyBGU8dqup?format=match&mode=fit&width=640)

Crypto regulation

In 2021, Bitcoin was heavily criticised for not being environmentally friendly, which led to the belief that PoS-based coins had a bright future. In 2023, the SEC and NYFDS ruined the party. PoS coins are under threat of being declared securities, and cryptocurrency-affiliated companies are forced to refuse the partnership. For example, Kraken agreed in a pre-trial settlement to stop providing staking services and pay a $30 million fine. For its part, Paxos will stop minting stablecoin for Binance from 21 February.

US regulators treat PoS coins as toxic assets because of the passive income from staking (profit expectations). Bitcoin, whose fate is still tied to miners' work, remains the favoured option. The network's hashrate continues to set records.

(https://steemitimages.com/p/21PRtjKRXPQybj4WUXScWv5QPLninWRxfbcWNsx7SenD7FxHJieTNV2LQr7VfyPifTUXGkCX8gtMfbdQjgzeeVYKeVrAGuyBkrjg1N49gGPvdpPisHq6whsaXgtsLAaSXs8drPKTKwnTcpUqBGPxmdx?format=match&mode=fit&width=640)

Oversold

In 2022, Bitcoin was oversold due to the bankruptcy of a number of crypto projects, and the average cost of mining fell below the market price. Most mining companies were forced to get rid of their reserves to keep their business afloat.

Bitcoin spent the second half of the year below its realised price, while Glassnode calculates its fair value (realised price including holdings) at $33,000.

(https://steemitimages.com/p/21PRtjKRXPQybj4WUXScWv5QPLninWRxfbcWNsx7SenD7Fpa2QEWnfcfBuWybpdZYL8bcRS7811oGV9zwjV1Zud2RcGLksFpWQVXhsKqrQGqDwrHMBT6A3CQBYAzeEks888N1oxGDdMneYT3dVYdt1k?format=match&mode=fit&width=640)

In an op-ed in The Wall Street Journal entitled "Why America Should Ban Crypto", Charlie Munger referred to China's experience and called everyone who disagrees with his opinion idiots in an interview with CNBC on Wednesday. What the 99-year-old investor is missing is that Bitcoin isn't banned in China because its decentralised nature makes it invulnerable to repressive measures. A ban on cryptocurrencies similar to China's would only trigger capital outflows that US regulators are unlikely to allow.


StormGain Analytical Group (https://stormgain.com/)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on February 20, 2023, 09:57:53 AM
Mining companies' arms race gains pace

Despite the poor financial situation and the need to sell off reserves at the lowest prices in 2022, major mining companies are once again competing to increase capacity. Even companies going through bankruptcy proceedings joined the race.

Last year dealt a serious blow to miners' financial health. Public companies, which have been increasing their capacity through loans and investment, were hurt the most. In the summer, the average cost of Bitcoin mining fell below the market price. The largest gap came in November when the cost was estimated at $23,000, while Bitcoin dropped to $16,000.

(https://steemitimages.com/p/LcTxR7u1XKaa3e4T1EBuBP18JezPvjFFo8gNuE9CiKHBn5txgUt1xZbYkk3aUMhvPjkrBXqJRnAaSgx7Erfp4shgHPnjLzbMHBvF2hzCwMaENhSWN8dko9SCeVwG76dYfaTdwhumxd43ccKMVtm4uD2DC?format=match&mode=fit&width=640)

A lack of funds to support operating costs has forced mining companies to sell off Bitcoin reserves. Many had to turn to refinancing their loans. The industry leader in computing power, Core Scientific, has initiated Chapter 11 bankruptcy proceedings.

The situation would seem to have cooled miners' enthusiasm, but competition is heating up with new intensity. Almost all public miners have expanded their ASIC fleets, and even Core increased capacity by 1.3 EH/s in January compared to December.

(https://steemitimages.com/p/LcTxR7u1XKaa3e4T1EBuBP18JezPvjFFo8gNuE9CiKHBn5jwYHvyAGe1nqATQ95hb7k1w9x4ommyX8u3wSok5u3yYdLpMkBH7cjao7DLYbhBg5C6VSpvCBieZCfPF9yEW2d5FLTcALxitr4qEBfVFu6Cv?format=match&mode=fit&width=640)

Iris Energy is another shining example of this. In November, the company shut down some equipment because it defaulted on a loan due to the inability to generate sufficient cash flow to service its debt. This week, however, it announced the purchase of additional ASICs from Bitmain, which will increase its own (non-rental) performance from 2.0 EH/s to 5.5 EH/s.

The desire to increase market share at all costs is driving hashrates up, despite challenging circumstances for the industry. Since January 2022, the network's capacity and computational complexity have jumped by 61%.

(https://steemitimages.com/p/LcTxR7u1XKaa3e4T1EBuBP18JezPvjFFo8gNuE9CiKHBn5kS39Fda4wEsHv8vTRVJHpZsfEUjEFcsntGiQcbLLPYKboFp9XQEYw5Q5JSUTYCKe2Z21YnBPhvu87FjyUgguMgAHyYGpfE4ywppWqy9Svza?format=match&mode=fit&width=640)

Now, Bitcoin is testing the $25,000 level. One analyst at B. Riley calculates that Core Scientific generates the cash flow needed to service its debt at this cost and that bankruptcy proceedings are no longer necessary.

(https://steemitimages.com/p/LcTxR7u1XKaa3e4T1EBuBP18JezPvjFFo8gNuE9CiKHBn5TW3aWsCtrGno4BkDsnWxdufXZqnQam6wqSiLqutG3hyigFBsbVUWS3ZbtXHW64pm8DyKEQn3u4dXe4zFq3D1fcsZzbza2AZwx7KYPpFjeZc?format=match&mode=fit&width=640)

If 2022 has failed to stop public mining companies from expanding, then even a small rise in Bitcoin this year will boost them.


StormGain Analytical Group (https://stormgain.com/easy-start)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on February 21, 2023, 10:49:22 AM
BUSD's capitalisation fell by 42% in three months

Binance chief Changpeng Zhao's (CZ) attempt to make his stablecoin the market leader can be considered a failure. Due to regulatory pressure, Binance is considering completely cutting off its relationship with US projects.

CZ took an extraordinary step in September 2022 to increase BUSD's market share. The cryptocurrency exchange announced the mandatory conversion of a number of incoming stablecoins into BUSD, including Circle's USDC. Over the following six weeks, BUSD's capitalisation rose by 11%.

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According to Bloomberg, Circle complained to NYDFS about Binance, which led to a chain of dramatic events for the cryptocurrency and a 42% drop in the stablecoin's capitalisation over the past three months.

BUSD is issued by Paxos, a US company licensed by NYDFS to conduct cryptocurrency transactions. BUSD is minted on the Ethereum blockchain, and the volume of reserves in bank accounts matches the volume of the issue, as confirmed by regular audits.

To maximise profits, Binance decided to release a BUSD clone on its own BSC blockchain. In doing so, the crypto exchange has made some management failures. During 2021, the volume of coins minted exceeded reserves by over $1 billion. The report of independent analytical agencies on cases of mixing client funds with reserves has added fuel to the fire.

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US regulators didn't much like the systemic risks. The NYDFS launched an investigation into Paxos, and the SEC sent a pre-enforcement action notification to the company. From tomorrow, Paxos will stop issuing BUSD, and the stablecoin buyback may end as soon as a year from now.

At the same time, Binance (except the US division) is considering withdrawing from US projects altogether. Speaking on Twitter Spaces on 14 February, CZ said the crypto industry's interest shifted towards stablecoins backed by the euro, yen and the Singapore dollar. With such statements, CZ may be preparing the community for Binance's potential move away from US dollar-based stablecoins.

Due to ongoing events, the crypto exchange's coin, unlike Bitcoin, couldn't renew its six-month high. Assessing the rise in supply, analysts at Santiment warn of downside risk to BNB in the medium term.

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The beneficiary of BUSD's pursuit by regulators isn't even Circle; it's Tether. Offshore registration gives investors hope that the restrictions won't affect USDT. The stablecoin's capitalisation jumped by 6% to $70.5 billion in the last month.


StormGain Analytical Group (https://stormgain.com/easy-start)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on February 22, 2023, 08:50:23 AM
Bitcoin's price rises despite macro threats

Metrics suggest the coin's price will continue to rise despite the threat of a global recession and increased regulatory pressure on the cryptocurrency market. After hitting a six-month high, Bitcoin may soon test the $30,000 level.

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In every bearish cycle, investors incur losses. Some of them leave the market. Historically, Bitcoin finds a bottom when the largest number of long-term holders (LTHs) give up their positions. This cycle was the most painful for LTHs, as their share of coins sold reached 58% at its peak.

(https://steemitimages.com/p/4HFqJv9qRjVeVQzX3gvDHytNF793bg88B7fESPieLQ8dxJ3QGXdWJDnVQNL98HDcgipZgbmmNFoUWCpaCA51RsQWVi2NM2ENKgYimwtM2sk77mf62wvvR36snuobJjCgT523gzJcUhfpCJVn78jrTe8UK9dhK7YHW8E?format=match&mode=fit&width=640)

Tell-tale changes are seen in how short-term holders (STH) behave. In a bearish market, they're more likely to get burned, and the coins don't stay in the wallet for long (red arrows). On the contrary, speculators try to maximise their profits by grabbing coins at the lowest prices in a rising market (blue arrows). The STH group considered Bitcoin to be oversold several months before returning to growth.

(https://steemitimages.com/p/4HFqJv9qRjVeVQzX3gvDHytNF793bg88B7fESPieLQ8dxHfDt6Y8dKKCCVvieKyraJWGqf4WaqeH2biDx53NCPCNZyMz96oRBynY3RTe9xD618FoVL4bvoACeQ7jvo5U1uL6vVL1aipJjpPHAFD5BpxzDnQTNSVUYYn?format=match&mode=fit&width=640)

Ordinals have been the main driver for Bitcoin for the past month (we covered this new technology), of which over 150,000 have been minted so far. The increase in demand is clearly demonstrated by the Taproot update, which is needed to handle ordinals. Miners liked the innovation the most, as their additional income exceeded $1 million in less than a month.

(https://steemitimages.com/p/4HFqJv9qRjVeVQzX3gvDHytNF793bg88B7fESPieLQ8dxHzc7v1oC5NoVP9J3RkjpRpd8ReEaRcaj7QAQZnvCb4aoq1xoJJBnBcJe5BvjWYLQdQbW2fmfEM3qTfsN51iGuWGV7dRWHLHTqJC6rfHxwcKxCfrjByEfwC?format=match&mode=fit&width=640)

The only group of participants who don't expect the bullish trend to continue in the medium term are institutional investors. The outflow from Bitcoin funds amounted to $35.6 million in the last two weeks.

(https://steemitimages.com/p/4HFqJv9qRjVeVQzX3gvDHytNF793bg88B7fESPieLQ8dxHbBUC7zJarZHmGjaQ7BvN6o6BUGorJDVevTWdfVW3KemWaaLaiWZWaZrdfj64m8HMrHfL7Ej4PeGD5m38PGyYZ5R1U6ywFyL8L8rtXBAj7y9xC3j5BrADc?format=match&mode=fit&width=640)

Major investors' fears relate to the Fed's intention to continue tightening monetary policy as the regulator aims to push inflation down to 2%. Core inflation in the US is currently at 5.6%. A further key rate hike could lead to a recession in the US economy and increased capital outflow from risky assets.

Other indirect counterarguments include stricter crypto regulation forcing US crypto exchanges to refuse to provide staking services, the potential granting of security status to PoS coins, and the imminent arrival of the Stablecoin Trust Act.


StormGain Analytical Group (https://stormgain.com/easy-start)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on February 27, 2023, 03:13:34 PM
Will Dogecoin Survive? When will Dogecoin Go Back Up?

Dogecoin, the meme-inspired cryptocurrency that started as a joke, has become one of the largest cryptocurrencies by market capitalisation, which came as a surprise to many, including its creator. The future of this unusual crypto coin, which has spawned many imitators, is sparking keen interest in the cryptocurrency community. Many crypto enthusiasts have questions like "Why is Dogecoin falling?" and "Is Dogecoin going to go back up?" on their minds now. In this article, we will delve into the reasons behind Dogecoin's price fluctuations and whether it has the potential to recover and rise again in the future.

Lots of people I talked to on the production lines at Tesla or building rockets at SpaceX own Doge. They aren't financial experts or Silicon Valley technologists. That's why I decided to support Doge – it felt like the people's crypto. — Elon Musk.

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Will Dogecoin ever go back up?

Dogecoin was created in 2013 by software engineers Billy Markus and Jackson Palmer and has since had many ups and downs.

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Why did it spike, and why did its value rise?

The Dogecoin was created as a joke, but it soon gained a dedicated following, with its Shiba Inu dog meme logo becoming iconic. In the early days of its existence, Dogecoin had a small but passionate community that used it for small online transactions and tipping content creators. During the 2017 bull run, its price experienced a fairly strong rise along with the rest of the crypto market, but the coin was still relatively unknown to the general public.

However, things changed drastically in early 2021 when the value of Dogecoin began to surge due to increased interest from the wider public, including celebrities such as Elon Musk and Snoop Dogg tweeting about it. The sudden interest from the public, combined with its low price and high supply, made Dogecoin accessible to a large number of people leading to a buying frenzy that resulted in a massive spike in its value.

(https://steemitimages.com/p/54TLbcUcnRm3sWQK3HKkuAMedF1JSX7yKgEqYjnyTKPwrcp7yDBhisN4UTHnYwt3j6q4jBd4SoNBh69CKpAdEU56Yz8V2juDbxUiDBfZ128kjctYNLS9Trfd3Gc3WZMVcMyKaiNyC?format=match&mode=fit&width=640)

Why does Dogecoin fall?

Dogecoin's fall in price is primarily due to the same reasons that caused its initial rise - the market cycle and public interest. The sudden increase in popularity brought in a lot of inexperienced investors who were looking to make quick profits. The inevitable correction that began after the sharp rise in price prompted many of them to sell the coin, which put additional pressure on the price. More experienced investors, on the other hand, expressed concerns about the long-term viability of the meme coin, which achieved popularity mainly due to hype, and pointed to the lack of real use cases and the absence of a clear development plan.

The crypto market's bearish trend that began in late 2022 led to the price drop of all cryptocurrencies, which further accelerated the decline of the DOGE that had already taken place.

When will Dogecoin rise again?

As with all investments, it's impossible to predict with certainty when Dogecoin's price will go back up. The cryptocurrency market is highly unpredictable and can be influenced by a multitude of factors. However, there is a chance that the bearish trend in the crypto market has come to an end. This means that, in the short term, the price of Dogecoin is also likely to rise. And if the overall crypto market continues to grow and mature, it can provide a positive environment for Dogecoin to grow, as well.

As for the long term, the future of Dogecoin will depend on its ability to evolve and adapt to the changing crypto industry and to build trust with the wider public. The popularity of the meme coin will only get you so far, and Dogecoin needs to evolve if it is to survive.

Top reasons Dogecoin can survive

Despite the challenges Dogecoin is facing, there are reasons why it can still survive and thrive in the future. Some of the top reasons why it can survive include:

- Strong community support. Dogecoin has a large and dedicated community of supporters who have been with the coin since its early days. This community has played a significant role in promoting Dogecoin and keeping it relevant, and its continued support can help Dogecoin to stay afloat in the future.
- Widespread use. Dogecoin has a strong following among internet communities and is widely used for small transactions, tipping content creators, and charitable donations. This widespread use of Dogecoin as a means of payment could help to maintain its relevance and stability in the future.
- Development: Despite the lack of a clear roadmap, Dogecoin's #DevelopmentTeam  is still working to improve the cryptocurrency's technology and ecosystem. This ongoing development can help to ensure Dogecoin's survival in the long term.
- Decentralisation. The community-driven development and high degree of mining decentralisation make Dogecoin a highly decentralised cryptocurrency. In the eyes of many crypto enthusiasts, it is a definite plus which increases the attractiveness of the coin.

(https://steemitimages.com/p/54TLbcUcnRm3sWQK3HKkuAMedF1JSX7yKgEqYjnyTKPwrcYWoxddWf183d7FeJ98V8izmJLFevrpS46ujYWYjZnM73bufEkLHQS6WFqJH8yYeZ5hYp8m8R7TLKwaFCFDmG1QGrWpv?format=match&mode=fit&width=640)

Is Dogecoin a good investment in 2023?

As with any investment, there are no guarantees, and the future of Dogecoin is subject to a range of uncertainties. In addition, "good investment" has a different meaning for each investor and depends on many factors, such as terms of investment, risk appetite, etc.

Having said that, it is worth noting that if a new bullish trend starts in the cryptocurrency market in 2023, the price of DOGE is likely to rise with the rest of the crypto market. However, given Dogecoin's high market cap and the lack of use cases, it is unlikely that its price growth can outperform that of other cryptocurrencies.

It is also important to remember that investing in cryptocurrencies is risky and can lead to significant losses. It's, therefore, important to do your own research before investing and not invest more than you can afford to lose.

When is the best time to buy Dogecoin

The best time to buy Dogecoin (https://stormgain.com/ru/cryptocurrencies/dogecoin) is highly subjective and depends on a number of factors, the chief of which is the purpose of the purchase and, therefore, the length of time you are going to hold Dogecoin. The longer you plan to hold the coins you buy, the more carefully you need to choose when to buy them. If you buy it in order to use it immediately as a payment or for a money transfer, it doesn't make much difference when you buy it. But if you buy it for trading, you will have to apply technical analysis to choose a proper moment. And if you consider Dogecoin as a long-term investment, then fundamental analysis might be your best bet, even though it's frustratingly unreliable when it comes to cryptocurrencies.
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on February 28, 2023, 11:21:34 AM
Seems like a tradition: Solana stopped due to another failure

For the failed 'Ethereum killer', technical problems leading to a network shutdown are already a tradition. Approximately every quarter, users encounter an inability to complete transactions. The network was down for 19 hours this time, the biggest shutdown in 12 months.

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The failure occurred on 25 February after an attempt to upgrade to version 1.14. The chain has branched out, and the transaction processing speed has dropped from 5,000 TPS to 100 TPS. The validators decided to roll back to v.1.13 but miscalculated the restart point, making the problem even worse. As a result, the network was completely shut down, and a rollback to an older unit was carried out.

Chorus One, a network partner, tried to find a positive side to the story, highlighting Solana's decentralisation and the need for validators to vote with a set quorum on each decision. Because of this factor, it takes 8-10 hours for Solana instead of 1 for a highly centralised network to get back up and running.

(https://steemitimages.com/p/8DAuGnTQCLptHK3w4xbU3SMDsfFVWre2qvkWUixoMRzeeaUC5scTWWaULYTpbCK9maDmsyXwkv1MYjRj4P4D8ZkMkhBPjPJSGR2QVWs21aYizPLSHePSkNFM5jTiT2cKxvjuatLBe9bPE45TyYxyLAr1rQS74wdS5eddABvbVne?format=match&mode=fit&width=640)

Another user noted that it wasn't about decentralisation but rather inherently poor design: "Solana has proved for the 15th time that nodes are highly dependent on each other."

Operation was fully restored on 26 February, but the cause of the failure is still unknown. The #DevelopmentTeam  is now investigating, assuring that none of the confirmed user transactions was affected by the failure. It also had no effect on the coin's value.

(https://steemitimages.com/p/8DAuGnTQCLptHK3w4xbU3SMDsfFVWre2qvkWUixoMRzeeZRe5ikw5W3r6fz8H2Kc1GPHKRc6ApKQWUmEdLcsW7vCgjTG9boouqzEwJMTQyi3pWoY5Pb6B5hEcNyFZtP2eG1Q8Jkbzi93Vqk3MYbyLMaXitVbvCazpLoXf1DoWq4?format=match&mode=fit&width=640)

Users and some developers have already come to terms with this network feature: occasional failures. However, Solana has a skeleton in the closet in the form of 35 million SOL (~$800 million) still held by FTX. At the end of the trial, the coins will be sold to cover the investors' losses. The surge in supply won't help capitalisation, and the very fact of a close business relationship with the collapsed crypto exchange has already led to the departure of two of Solana's biggest NFT projects.


StormGain Analytical Group (https://stormgain.com/easy-start)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on March 01, 2023, 10:17:50 AM
Blur overtakes OpenSea and secures 50% growth in NFT turnover

One by one, cryptocurrency market segments show signs of breaking out of the downtrend. NFTs joined in, too, with a 50% increase in weekly sales to $185 million in 2023. The reason was the expansion of the new Blur marketplace, which is forcing competitors to play by their own rules.

(https://steemitimages.com/p/3zpz8WQe4SNGWd7TzozjPgq3rggennavDx3XPY35pEAVnpttpBakRrsmoh8a5acCPYFJwARw8bETHQuCFgwrgDpgyni3JiA3DpUagbiyjXP6WtWxPGrH6EH1ooQcE8r3bDcnLm2gX1rV4nTNoymG?format=match&mode=fit&width=640)

The Blur platform has two modes of operation with NFTs: trader and collector. While the latter is similar to its competitors in many ways, trader mode has many useful innovations. For instance, there's Depth of Market, which shows the number of bids and the price for separate collections. There's also a listing screener that allows tokens to be purchased as soon as they come on the market. Blur is handy for a sweep-the-floor strategy, i.e., buying up the cheapest NFTs from popular collections to resell them later.

The solutions proved so successful that in the past 30 days, Blur has surpassed the market leader OpenSea by 2.6 times, reaching $1.3 billion.

(https://steemitimages.com/p/3zpz8WQe4SNGWd7TzozjPgq3rggennavDx3XPY35pEAVnq1PSpcGp14LFKnW5DWwRFZXAp39CMpeTrYQYXEXVER1gMEkQfohVtvH2xva8Mzcfp5NxPrMXA6Ft6oZS2VwD6mQresgark31X8WPDjL?format=match&mode=fit&width=640)

OpenSea's position was further undermined by the Blur token's zero trading commission policy and airdrop with a listing on 14 February. As a result, OpenSea's market share by transaction volume fell from 36% to 15%, while Blur jumped to 78%.

(https://steemitimages.com/p/3zpz8WQe4SNGWd7TzozjPgq3rggennavDx3XPY35pEAVnqHe7HskBsEFkqtpVLTWHTmy3XgWqxSNWx6L914T6NvE7AoJo9JXK2SrcHgHBwvqwp3JFYWToxvirxS2G5aoBsYQLRQTdqA2rjMzsPVQ?format=match&mode=fit&width=640)

Since Blur currently only supports Ethereum, increased trading activity has led to an increase from $3 to $6 in the network's average commission in 2023. But it hasn't affected ETH's price. The altcoin has still lagged behind Bitcoin for the past two months.

(https://steemitimages.com/p/3zpz8WQe4SNGWd7TzozjPgq3rggennavDx3XPY35pEAVnq1GGCGPHTEHfgEZLWWBbMP41fWifvf6Lk3u2CW7me6KqNrf1i5wnJQAj3dweroLZNBQ7XpBg93a4ZBCQw926ZMHrAxDoNSBeEAk24yL?format=match&mode=fit&width=640)

The emergence of such a strong competitor has forced OpenSea to announce a reduction in its trading fees to zero 'for a limited time only', promote an additional earnings model for artists and introduce some features similar to those offered by Blur.

Unfortunately, increased competition and improved features haven't resulted in the influx of new addresses.

(https://steemitimages.com/p/3zpz8WQe4SNGWd7TzozjPgq3rggennavDx3XPY35pEAVnqHoY2858BuYTM6YEMi9h796revbKFRLuKHXQNHQ3zcSE8QqRXM3YrBUWTAqRcrtkEYDX7QtpnHqPUMe9bCP8X6m3a9Xukxn7MxUcPpa?format=match&mode=fit&width=640)

This figure is 40% lower than last year and continues to trend downward. This suggests that there is increased demand for NFTs among experienced users who have switched from one platform to another. Interest from a wider audience remains low.


StormGain Analytical Group (https://stormgain.com/easy-start)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on March 02, 2023, 10:34:03 AM
Whales and institutional investors are leaving Bitcoin

The tense macroeconomic environment and the continued consolidation of Bitcoin are causing increased scepticism among a number of investors. The significant reduction in liquidity that threatens increased volatility and false breakouts is bringing negative sentiment to the table.

For the third week in a row, institutional investors have either withdrawn positions from Bitcoin funds or moved funds into short ETFs (profits are generated when the value of the asset falls). Last week, the net outflows amounted to $11.7 million, while short fund investors increased their positions by $9.9 million.

(https://steemitimages.com/p/3RTd4iuWD6NUYoFYtCPrfUchER6ihYi34N6pxK6dEDrYSWCBZ2veYb3fFgEYrSrtN38unxAKYS65xxd6iLcrdbiJKHSxm9puZtogb19pgpybrLQW6BiGZFYECMQrVXzLMWFfxYMFBxcnmaSRswfhkguuTTNqkPZ2neihrN6beDcEQ6?format=match&mode=fit&width=640)

The number of whales (> 1,000 BTC) continues to decline, reaching a three-year low of 1,663 individuals. Two years ago, there were 2,161 of them. The first wave of population decline was caused by the sell-off of stocks at the peak of the rally, but the second one (from May 2022) was due to the collapse of several crypto projects and panic among market participants..

(https://steemitimages.com/p/3RTd4iuWD6NUYoFYtCPrfUchER6ihYi34N6pxK6dEDrYSW81e6cYMEnsQyJgidJxFhgq2WHv1yVYTauowtGDny5FdwYURqk7oWN3oDtGMEML319hN9WC8RgVPMHNzEF73rdkDRpGyodT2wczrqDbsaXouy9QpGbwcrM7hGekvX1NAi?format=match&mode=fit&width=640)

The lack of positive momentum over the last two months suggests a pessimistic mood among big players, despite Bitcoin's 43% gain since the start of the year.

(https://steemitimages.com/p/3RTd4iuWD6NUYoFYtCPrfUchER6ihYi34N6pxK6dEDrYSWD8qpNHxmKEsvCcEMw1zbgqmSaLH9amAYSQAENyKago6XXNqyvqq8nZueKMGm4xRKe13vznwg7hwFnva3fcjmG21EvQuD9rt3pAxSxpTwCe9DuxQHSaBpC8P3Hz7eGVNE?format=match&mode=fit&width=640)

The negative sentiment is fuelled by reduced liquidity in BTC/USDT and EUR/USDT. Analyst agency Kaiko estimates that market depth within 2% for Bitcoin's price has declined from over 15,000 coins in October 2022 to the current 6,800 BTC. Reduced liquidity threatens to increase volatility and carries the risk of price manipulation.

(https://steemitimages.com/p/3RTd4iuWD6NUYoFYtCPrfUchER6ihYi34N6pxK6dEDrYSWTaGZABzU9HTKfZdrk4gUKqHpBhEc3K6KkwHp4pLS1gJU7GY2RT5NuBMkCMGDYpejLAtgAX3pQxVMs6zQrKkqDxU7VNDyGWCGYLzxr1hpkHKyjty8NrnmMVksNEznZRSn?format=match&mode=fit&width=640)

The main concerns relate to the Fed's continued key rate hike to curb inflation. Since the US Consumer Price Index exceeded the forecast in January, when it reached 6.4% year-to-year, the regulator may raise the rate by 0.5% at its next meeting. CME's FedWatch tool now estimates a 23% probability of such a move.

(https://steemitimages.com/p/3RTd4iuWD6NUYoFYtCPrfUchER6ihYi34N6pxK6dEDrYSWVWTv2F42zSwkYK8e2M1pSyYSMTRrNyuYYbQPQoxFz7WyBF8u7jNTok5aHcGGCBfyQWncExjXEqMgcHiXqG8eWdPEVD1RfeusssWroz7N2rDCh9HTBg44PL8xmV4Mtt1c?format=match&mode=fit&width=640)

But there's also a bright side: Long-term holders renewed a four-month high in accumulation, while the percentage of supply inactive for at least five years reached a historic high of 28%.


StormGain Analytical Group (https://stormgain.com/easy-start)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on March 03, 2023, 01:37:03 PM
Arguments FOR and AGAINST ETH's price rising after the Shanghai Upgrade

In March, the Ethereum network is expecting its most important hardfork since the Merge: the Shanghai Upgrade, which will allow validators and investors to withdraw ETH frozen in staking. Some circumstances hint at the coin's price going down, while others suggest it could rise. Justin Sun (Tron) bet 150,000 ETH (~$248 million) in favour of the price rising via Lido Finance, providing the platform with a new all-time daily high on 25 February.

Arguments AGAINST higher ETH prices

The first argument against ETH seeing a price rise is the significant volume of staked funds that will become available for withdrawal and their potential sell-off. Currently, 17.4 million ETH worth $28.7 billion are staked.

(https://steemitimages.com/p/4i88GgaV8qiFU89taP2MgKXzwntUGAvkoQiKU7VxyD37q91TVo4czhSKdekNiNWjAQ3cnnnQTonMcksdRx3wF5sZsH5oVWNxfuKjC9vCx85cEMzGYX7P3e6rfG?format=match&mode=fit&width=640)

The potential sell-off of these released coins, which make up 14.6% of Ethereum's total supply, could lead to a significant price drop. To prevent sharp price fluctuations and a reduction in liquidity, a queue mechanism will be introduced. Coins can be received only by standing in this line.

The second counterargument is pressure from regulators. The SEC has already forced the Kraken crypto exchange not to offer clients the ability to stake their funds and to return staked funds after the hardfork. It's likely that the same fate awaits Coinbase and other players in the US market. What's more, the two crypto exchanges named here own 16.3% of all Ethereum validators.

(https://steemitimages.com/p/99pyU5Ga1kwqSXWA2evTexn6YzPHotJF8R85JZsErvtTWYkUXRCdqwKC4CFAmvGbxqUqeYeEgR5Y78o1tVxSNKB6e2xDXK7kNx47a9qgyNXppZ3HDnEMS1AAKhsvksFZx2?format=match&mode=fit&width=640)

Arguments FOR higher ETH prices

The removal of the freeze will have a positive contribution since its presence scared off many investors from staking ETH. As a result, the share of staked Ethereum (14.6%) is the lowest among popular coins that offer the chance to receive passive income.

(https://steemitimages.com/p/99pyU5Ga1kwqSXWA2evTexn6YzPHotJF8R85JZsErvtTWYsibG1xJS42kwRMUqmHmxNAGJUdLBuSjJ8AC5ziLH6qnPWEdJYbbph4bdtDb1q4bRh1UHgqWAkaPL8TKsCN6z?format=match&mode=fit&width=640)

The ability to move funds around freely will lead to a rise in demand among investors who had ignored Ethereum staking before Shanghai. For example, the same Justin Sun's TRX holds 42% of its supply in staking. If there is similar interest in ETH, the inflow of new investors will cancel out the negative impact of several participants leaving.

The second argument suggesting a price increase is the network's noted deflation after it transitioned to PoS.

(https://steemitimages.com/p/99pyU5Ga1kwqSXWA2evTexn6YzPHotJF8R85JZsErvtTWXoiyDo4GgTeSDpBNXTPszn2GhmiZfVv8PYfuuK4cgvUK6HV6VibRanQeV6f4j367o7RsoF5RoXKKQch77DKsC?format=match&mode=fit&width=640)

This year, with an increase in interest in NFTs (see our article "Blur overtakes OpenSea and secures 50% growth in NFT turnover), network activity has increased, which has led to more active ETH burning. In just the past year, supply has gone down by 41,500 ETH or 0.03% of the total supply.

Investors' activity after funds leave staking will lead to an increase in the number of transactions, which will enhance deflation. If we evaluate this factor separately, then in the long run, it will ensure that it will strengthen ETH, at least against BTC.

(https://steemitimages.com/p/99pyU5Ga1kwqSXWA2evTexn6YzPHotJF8R85JZsErvtTWXcQZuvEa5gzt5Zd2ZJ5KLNu5sp2fE5mYar2PrAFYqBSkG5CDQtThkdayQ18jq3MtjZ6c5ZSPqw9unm3vArNjQ?format=match&mode=fit&width=640)

We've looked at two arguments in this article laying out the case for ETH's price increase and its decrease after the Shanghai hardfork expected this month. What impact do you think the unblocking will have on the cryptocurrency? Let us know in the comments!

StormGain Analytical Group (https://stormgain.com/)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on March 06, 2023, 11:29:53 AM
Crypto market falls due to Silvergate crisis

The cryptocurrency market continues to be rocked. This time, the shock comes from Silvergate, one of the main cryptocurrency banks connecting traditional finance with cryptocurrencies. News of payment problems has caused institutional clients to flee, and most crypto assets have fallen in value.

(https://steemitimages.com/p/2r8F9rTBenJQfQgENfxADE6EVYabczqmSF5KeWefV5WL9WD2mr7LSuDCpkw3ijFSjLCRtCGg5kt4DAW1AokShtJwKGD6JARWLsREBwzvauRFaUfW85maDmnF72Ht7z9Ca?format=match&mode=fit&width=640)

Silvergate was one of the first organisations in the US to provide cryptocurrency banking services, both lending and providing liquidity. A quote from former FTX head Sam Bankman-Fried was featured on the bank's website: "Life as a crypto firm can be divided up into before Silvergate and after Silvergate."

Ironically, with the collapse of FTX, Silvergate saw a $1 billion hole in its balance sheet in Q4 2022, with regulators launching pre-trial investigations over the bank's possible involvement in the fraudulent use of clients' funds at the failed crypto exchange.

On 1 March, Silvergate filed a notice with the SEC that it would be delayed in submitting its report for the past financial year. The document specifically points out the need for a more accurate assessment of incurred losses, and its capitalisation level may not be satisfactory. All this could lead to the company's inability to continue operations for 12 months after releasing the reports.

The bad news led to the following day's announcement that partnerships would be terminated/frozen and transactions to/from Silvergate would not be possible for Coinbase, Circle, Paxos, Galaxy Digital, Bitstamp, Wintermute, Gemini and many other major industry representatives. Bitcoin reacted with a sharp drop of 5%.

(https://steemitimages.com/p/2r8F9rTBenJQfQgENfxADE6EVYabczqmSF5KeWefV5WL9W7eXENdwS8UEBhMTgT6NYXjwFjoKKw2Tu1gqC74h3Aw77oAByfbjntkZPkb8iQA6pBCJA3AwSuH77v3pU7T4?format=match&mode=fit&width=640)

The crisis at Silvergate comes amid regulators' tightening of conditions in the crypto sector. Nic Carter from CoinDesk called the developments "Operation Choke Point 2.0". The Biden administration is stepping up measures to make it harder to exchange fiat for cryptocurrencies and may potentially disconnect the entire cryptocurrency sector from the banking environment.


StormGain Analytical Group (https://stormgain.com/easy-start)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on March 07, 2023, 09:25:45 AM
Tether strengthens amid BUSD's collapse

US regulators started 2023 off by tightening conditions for the cryptocurrency market. In February, for example, the cryptocurrency exchange Kraken received a pre-enforcement action notification for providing staking services, as did Paxos, which is responsible for issuing the BUSD stablecoin for Binance.

In short, Binance internally produces a BUSD clone on the BSC blockchain, and Paxos supports BUSD on the Ethereum blockchain. The crypto exchange created a significant gap in 2021 between the collateral on hand and the number of coins minted. Some months, BUSD was undercapitalised by $1 billion or more, as revealed in a report by independent analytical agencies.

(https://steemitimages.com/p/LcTxR7u1XKaa3e4T1EBuBP18JezPvjFFo8gNuE9CiKHBn5bhrn9BJ5gMucEBQWL12oxkRSKmpvaMFD9wxMZyZF8TPe24sNiHCgDg2oB9hVF7M8tivSkQeXxs2V6wsxpqhS7LBk3T9EL92NFFAxp25mL8e?format=match&mode=fit&width=640)

Because Binance is more difficult to hold accountable, Paxos received the pre-enforcement action notification. The company has refused to mint BUSD since 21 February as it works to address the situation. It may stop supporting the stablecoin completely in a year's time.

Institutional investors and large clients began abandoning the coin en masse, leading to a doubling decline in capitalisation this year. On the other hand, USDT's capitalisation gained 7.8%, rising to $71.5 billion in two months.

(https://steemitimages.com/p/LcTxR7u1XKaa3e4T1EBuBP18JezPvjFFo8gNuE9CiKHBn3KXxyYRnYvJdr9NqYdk7ma323qBEe9Xdn1MSS2Ra3JH2h5SBEYHpaN143L1ywoTikhxzDt1ubsM6sy7ng7bsx7u2nTpAhvXqRGKig4irJfLi?format=match&mode=fit&width=640)

Tether has spent the past three years seeking to improve its position in the cryptocurrency market by reducing the share of corporate bonds in its reserves. If USDT-secured loans (and other forms of liabilities) previously used to account for half of the total reserves, their share is now below 20%.

(https://steemitimages.com/p/LcTxR7u1XKaa3e4T1EBuBP18JezPvjFFo8gNuE9CiKHBn4BEwE2fRmhC6SZpfybvA71qN5ksuhAJDTmR7BP3pWLCsb7DoRSE648bx9XHNPDEHBh1dpS3ypPzQqSvDmz69xyCnNsTpsLa1yqCdLDQoXg38?format=match&mode=fit&width=640)
BDO audit of 08.02.23

In addition to financial improvements, the company has become more amenable to law enforcement agencies' demands. This is reflected in the number of blocked addresses, which rose from 18 in January 2020 to 829 in January 2023.

(https://steemitimages.com/p/LcTxR7u1XKaa3e4T1EBuBP18JezPvjFFo8gNuE9CiKHBn2tX8QRMjRuQ7tWVXV9PXbqoAf1zxYEpBrWScYofKTWcDxcAxgLtjpKUp2mbnK1iMYRVpLJ8ZFd7DCsv84sq7g1beWUpjdDKYMz6qPUNydJv2?format=match&mode=fit&width=640)

But the desire to be on close terms with the law hasn't spared Tether from legal attention. Last year, Judge Katherine Polk Failla demanded the company's books and all sorts of financial records for the past five years in connection with an investigation into the unsecured USDT issue and subsequent Bitcoin pump with Bitfinex in 2017.

(https://steemitimages.com/p/LcTxR7u1XKaa3e4T1EBuBP18JezPvjFFo8gNuE9CiKHBn49ACxx2xBP9cxDmBTie5x441XAe79BKDN6fkG1c6HAAPuyAxTxQroqByhQetxGVmjV88MQhdVGWAXudEFTRUrkfStHxqhn9BvKPWWSKiyvxn?format=match&mode=fit&width=640)

A history of misdeeds, several active lawsuits and the potential adoption of the Stablecoin TRUST Act in the US in 2023 prevent Tether from taking full advantage of BUSD's reduced capitalisation.


StormGain Analytical Group (https://stormgain.com/easy-start)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on March 14, 2023, 05:31:01 PM
The causes of the new financial crisis, in simple terms

The Fed has caused another financial crisis, just like clockwork. Silicon Valley Bank (SVB), the 16th largest US bank by assets, faced bankruptcy despite a "dull" financial policy that fully followed the Fed's recommendations. However, this didn't save SVB from bankruptcy, and the banking sector could face a domino effect if no immediate support measures are taken.

Easy money, 2020-2021

To support the US economy with the onset of COVID-19, the government adopted a series of costly measures, including paying unemployment benefits above the national average wage ($987 versus $957 weekly, respectively). At the same time, the Fed dropped its key interest rate to zero, making credit and other borrowing super-cheap. It also inflated its own balance sheet by buying bonds and securities, doubling it to $9 trillion.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYShViXTTmvUUawWYqjFPsxXX2YYZjZkMXMagh6PhAsETMrK2nqnFNdHocHSoxJJ5XMHp8v?format=match&mode=fit&width=640)

Simply put, the regulator has printed trillions of dollars to hand out money to the public and businesses. This was reflected in the record growth rate of property prices and the stock market boom and has led to a natural increase in inflation.

Safe-haven assets

On the other hand, safe-haven assets, such as US Treasury bonds, have lost yields, and demand has been low during this period. This is an important point to understand, as it's SVB's conservative policy that will result in unplanned losses.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSheoefkBATHQHWyvXZ5RJfg3hGp69YGitfrMMHR85YHcHEx8RrAJkijWqFwKHHNePAE7G?format=match&mode=fit&width=640)

In simple terms, when the Fed lowers its interest rate, bond yields fall. When it raises the rate, yields rise, too. When the rate is high enough, investors prefer not to risk investing in stocks, cryptocurrencies and other high-risk instruments. Instead, they turn to bonds for guaranteed returns.

Silicon Valley Bank

SVB is a role model for banks in this sector. When it faced a high capital inflow during the easy money period, some of the funds were invested in bonds to mitigate risks. The problem is that securities bought with yields below 1% have become much cheaper as the interest rate has risen. Specifically, the bank sold $21 billion worth of bonds last week for deposit repayments at a loss of $1.8 billion. To compensate for the losses, bank management announced an additional issue of shares worth $2.3 billion, leading to a panic among clients.

Simply put, the bank lost 9% on bond transactions alone because of the regulator's actions, even though the purchases were made to insure clients' funds against financial risks. The bank currently holds over $70 billion in long-term Treasury bonds.

How much blame is the Fed's? It's enough to recall Jerome Powell saying that inflation was "transitory" in 2021, refusing even verbally to move into a rate hike cycle any time soon. The following year, the speed of rate hikes was the highest in 40 years.

Accompanying challenges

Nowadays, news travels fast, and online banking makes it possible to withdraw deposits without visiting a bank branch. Following the sale of bonds and the announcement of additional capital raising, SVB faced a total withdrawal request of $42 billion as early as 9 March. On 10 March, all bank operations were blocked by the Federal Deposit Insurance Corporation (FDIC).

The liquidity crisis is systemic since the US's fractional reserve banking requirement is only 10%. Simply put, out of every $100 deposited, the bank must keep only $10 on hand. The remaining 90% can be invested in funds, bonds and other financial instruments. Some economists consider the 'reserve requirement ratio of 10%' rule to be a key systemic problem in today's financial system. First, in the event of a sudden demand for withdrawals, the bank is unable to meet the request promptly. Second, the mutual indebtedness of financial institutions leads to a domino effect when one of them falls.

The domino effect and the fall of the US dollar

US banks now have $65 billion in unrealised losses, compared to just $3 billion a year ago.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSiwGEzXqaUZY5jNdE8HVVHPU2ApZCGwdtMwoNMv4hrgJNb5BFPDJqyQA2nYE46ajoqKiv?format=match&mode=fit&width=640)

Against the scale of the problem, the Fed's announcement of a $25 billion additional fund to support the banking sector looks pathetic. SVB alone was servicing deposits totalling $175 billion at the end of 2022, 85% of which were uninsured by the FDIC. If immediate action isn't taken, many of SVB's customers will simply go bankrupt, and some other banks will face a lack of liquidity.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSe12faR4oiBHri1LTr6h5eHemJkD2CEYk2To14QnCq8fcAAVQB6u5J6ywPNVcJ1NNxoiW?format=match&mode=fit&width=640)

The US dollar is losing ground on all fronts as the Fed's actions have led to a crisis in the banking sector. Despite earlier statements about the need for a more serious rate hike, the regulator is likely to take a break in March. The emergence of new support funds isn't good for the dollar, as it'll ultimately come at the expense of additional printing.

As an epilogue, we'd like to quote Bitcoin creator Satoshi Nakamoto:

The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust. Banks must be trusted to hold our money and transfer it electronically, but they lend it out in waves of credit bubbles with barely a fraction in reserve.


StormGain Analytical Group (https://stormgain.com/)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on March 15, 2023, 11:06:44 AM
Why Bitcoin won the last round

It would seem that the cryptocurrency repression by US regulators, the liquidation of three crypto-friendly banks and the storm in the stablecoin market should have dealt damage to Bitcoin's capitalisation. That is what institutional investors decided would happen as they rushed to exit cryptocurrency funds. But the value of the leading crypto asset has only grown in the eyes of the public.

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In 2023, US regulators and senators launched a verbal attack on cryptocurrencies, promising a tougher working environment for the sector. In February, the SEC forced cryptocurrency exchange Kraken to stop providing staking services, while the New York Department of Financial Services (NYDFS) pressured Paxos to stop minting the BUSD stablecoin.

A month later, cryptocurrency banks fell apart. Silvergate announced its voluntary liquidation over FTX debt, Silicon Valley Bank (SVB) faced a liquidity crisis, and regulators shut down Signature Bank to keep SVB company. The latter had no problems with payments, and, as Messari CEO Ryan Selkis writes, NYFDS was deceptive in its actions to close the bank, which surprised even the FDIC.

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Given the situation, institutional investors assumed that Bitcoin would be a total disaster, with outflows from Bitcoin funds reaching a record $244 million in the past week. What the big market players failed to take into account is that Bitcoin was created to withstand such shocks.

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First, decentralisation prevents regulators from striking directly at Bitcoin. Even China understands this, as its ban on cryptocurrency transactions doesn't apply to exchanges between citizens. As such, the blow to US banks will only strengthen the outflow of funds into other assets.

Second, the Fed is once again undermining confidence in the financial system through its actions. It'll have to go back to printing dollars to support banks by returning customer deposits and buying bonds from banks at nominal prices. It's also very likely that the regulator will pause its key interest rate hikes, despite Powell's hawkish tone a week ago. This development has already led to an increase in high-risk assets and a sharp fall in bond yields.

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The cherry on top is the US banking crisis: unrealised bank losses rose from $3 billion to $652 billion in one year, according to the FDIC. That means that the Fed's dilemma lies between inflation and a full-scale economic crisis. It's very likely that the regulator will compromise on its fight with inflation, and in such an environment, Bitcoin will regain its status as a store of value.

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Post by: stormgain on March 16, 2023, 10:12:22 AM
Users rush to exchange stablecoins for BTC and ETH

US regulators have taught a good lesson to crypto enthusiasts who use stablecoins for savings or to generate passive income from staking. The USDC, the strongest stablecoin in terms of collateral and supervisory control, unexpectedly lost over 10% of its notional value on Saturday.

In the US, USDC is regulated by the NYDFS and SEC. Its reserves are audited monthly and consist exclusively of cash in bank accounts and short-term Treasury bonds.

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On 10 March, $3.3 billion, or 8% of the collateral, was blocked by the Federal Deposit Insurance Corporation (FDIC) at Silicon Valley Bank (SVB), causing Circle to face a liquidity crisis on 11 March and USDC to lose its peg to the US dollar.

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The lesson from the regulators clearly demonstrated the disadvantages of centralisation. Even by meeting all the requirements of the supervisory authorities and having the most transparent and secured coin, Circle was unable to fully meet the commitments it had made. The panic in the market led to even greater losses for users.

In the past five days, USDC's capitalisation has fallen 12% to $38.4 billion. Users withdrew over $1.3 billion worth of BTC and ETH from cryptocurrency exchanges on Saturday alone.

(https://steemitimages.com/p/FUkUE5bzkAZSUQtscsBsFx5imG6WU3gSfePkK5Gond6i74SGBkikNz7ND6hwk56DzVQdcxWSsa5CrRFTuUpu5ennsLXMNAhGctrTPj7tzRASf4MnVVLyQUyMzG2Sb59BQnN7zRGrjCcnu9CUTC1oP2pLsqvkSpocAfx2?format=match&mode=fit&width=640)

The decentralised nature gives BTC and ETH as much freedom as possible from regulators' actions. Cryptocurrencies have no major financial centre or hub that could experience similar harm if they were targeted.

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On the same day, Nas Academy creator and popular vlogger Nuseir Yassin spoke about the events taking place:

"Today, I finally understand the anger that led to the creation of Bitcoin. Who do you trust with ur livelihood? A 'gov insured' bank that's not actually insured? An exchange that goes bust? A stablecoin that depegs? Or a currency that makes you 8% poorer every year?"

Due to the collapse of three banks within seven days, analytical agency Moody's downgraded the US banking sector from "stable" to "negative". The Fed's key rate hike has hit yields and banks' ability to raise capital. Analysts predict a further rate hike, which would lead to further negative effects in the sector.


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Post by: stormgain on March 17, 2023, 10:51:02 AM
One month until $29 billion of Ethereum unlocks

In April, the Ethereum network will undergo the long-awaited Shanghai hardfork, allowing validators and staking investors to withdraw coins. Currently, the deposit contract contains investments for 17.6 million ETH or $29 billion, which exceeds 14% of the total supply.

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The final Shapella test took place on the Goerli test network this week. With the exception of some procrastinating validators who didn't update the software, the test was successful. This paves the way for a hardfork to take place on the main network in April.

Since a significant amount will be unlocked and the developers fear a rapid outflow of validators and a drop in the price of ETH, withdrawals will be technically limited to about 2,200 transfers per day. If each validator withdraws an entire block of 32 ETH, the daily outflow would be 70,000 ETH or $116 million.

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The hardfork is likely to have a negative impact on the coin's value in the medium term due to the significant outflow associated with US regulators' harsher stance towards Ethereum after its move to PoS. For example, in February, Kraken agreed in a pre-trial settlement with the SEC to stop providing staking services and to pay a $30 million fine.

Kraken has a 7% share in the staking, with 1.2 million locked ETH. Immediately following the hardfork, the crypto exchange will join the queue to withdraw the entire amount to return funds to clients. When considering the speed limits for processing its application, more than 17 days would be needed.

It is very likely that Coinbaise will soon be forced to stop offering staking just as Kraken was. Coinbase is currently the second-largest ETH player, possessing a 12.6% share.

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In remarks to journalists yesterday, SEC Chairman Gary Gensler confirmed the regulator's intention to get Ethereum recognised as a security. This is all due to the ability to stake coins on a PoS algorithm and investors' expectations to receive passive income.

The New York Attorney General's (NYAG) office is of the same opinion. On 9 March, NYAG filed a suit against the KuCoin crypto exchange after its employees managed to receive ETH on the platform. In the opinion of the AG's office, the exchange must have a license for a professional securities market participant.


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Post by: stormgain on March 20, 2023, 10:13:20 AM
The Fed's support for banks is higher than in 2008

The banking crisis in the US is getting out of hand and threatens to spread around the world. According to Capital Economics, the Fed has halted its ongoing quantitative easing (QT) programme as the reserve balance jumped by $440 billion to $3.4 trillion during the week.

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Also, in the past week, the volume of borrowing by banks from the Fed to maintain liquidity has exceeded $150 billion, which is 38% more than they loaned in 2008.

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The situation is so dire that 11 major banks have placed $30 billion worth of unsecured deposits with the sinking First Republic Bank as a gesture of goodwill. This was likely brought on after coaxing by the Fed and the US Treasury Department, but the details of the deal remain unknown.

The sad part about the situation is that this support for First Republic Bank isn't giving it any reputational points. Moreover, its clients are still transferring funds to other institutions. What's even worse is the disclosed details of the insider sale of shares by top First Republic executives two months before the fire began (read more in The Wall Street Journal).

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inancier and billionaire Bill Ackman posted on social media that the "deal" conducted raises more questions than answers, as the lack of transparency forces market participants to assume the worst. In Ackman's opinion, financial contagion can get out of hand, and "hours matter [but] days have gone by. Half measures don't work when there is a crisis of confidence."

As is traditional for a financial crisis, gold rose in value, gaining 6% over a 10-day period. The trend is even stronger with Bitcoin, which is ideologically opposed to the traditional financial system.

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Galaxy Digital CEO Michael Novogratz said on 15 March that a credit crisis was imminent and that commodity markets were openly hinting at an early recession. He also noted that we're at the dawn of the Bitcoin era, as the cryptocurrency was created in response to the government's rampant money printing in the previous financial crisis.


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Post by: stormgain on March 21, 2023, 01:46:08 PM
Former Coinbase director: Bitcoin will be worth $1 million in 90 days

Some experts are sounding the alarm bells that the Fed is pushing the world economy into the worst crisis in modern history. The regulator has already flushed down the drain four months of efforts to shrink its balance sheet after it bought $300 billion worth of assets in just one week. This and other circumstances hint at a move towards hyperinflation, despite the relatively high key interest rate.

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The Fed's balance sheet grows when the regulator supports the economy by buying bonds and other debt securities. Simply put, in the case of a shortage of funds, Bank N issues and sells bonds to the regulator and receives dollars in return. Bank N needs the money because panic has caused its depositors to flee (such as with SVB, for example, in our story).

This directly increases the money supply, which goes against raising the key rate and efforts to combat inflation. This is why economists call what is now happening hidden QE (quantitative easing).

The American fire has already spread to other parts of the world, such as Switzerland. Over the weekend, an emergency decision was made that UBS (with support from the Swiss Central Bank) would buy Credit Suisse, the second-largest regional bank. Both are among the world's top 30 financial banks, with combined assets of $1.7 trillion.

Credit Suisse shareholders lose 60% of their investment from the share swap, while AT1 bond buyers are left with no money at all (read more in this Bloomberg article). Such a move clearly doesn't add to investors' confidence in the future. The Swiss National Bank provided UBS with a $108 billion credit line to support liquidity.

So, let's summarise. The fight against inflation is over, and the world's leading regulators are either already injecting additional funds into the economy or preparing to take this step. Economist Peter Schiff thinks the Fed should just step aside and let the crisis do its thing. Further rate hikes, however, are pointless because the ongoing QE offsets any effect.

(https://steemitimages.com/p/3zpz8WQe4SNGWd7TzozjPgq3rggennavDx3XPY35pEAVnqF61dYToK47HNdmfzNtTvrpTmoXe9Uq4TBfn99GPz4aGKvkrAQY8khy393vb5qMF4C9nLrgUTchDM9RGH9JQ7XjHLBAXwnGrXPd8GrS?format=match&mode=fit&width=640)

Former Coinbase CTO Balaji Srinivasan went even further in his assessment, posting on social media about the imminent arrival of hyperinflation and urging everyone to buy Bitcoin.

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He was debated by James Medlock, who spoke of his willingness to bet $1 million that the US wouldn't face hyperinflation. Balaji responded by raising the stakes, promising Bitcoin's rise to $1 million within 90 days. Balaji has also agreed to accept 1 BTC from Medlock in the event of a win versus paying Medlock $1 million, which at the current exchange rate is equivalent to 40:1.

(https://steemitimages.com/p/3zpz8WQe4SNGWd7TzozjPgq3rggennavDx3XPY35pEAVnppzBNcNiMJcApVaoM43VBVN9DZ9mvzuDtmvv14vNMNTtxvMem9PrPwX37b787P3bF79Jk7QzQnqWyLp4WWo6oTnbcp1FBHeq7J1WhAN?format=match&mode=fit&width=640)

The chances of Srinivasan winning the argument are slim to none. Bitcoin, on the other hand, is likely to benefit from the recent shocks. In a time when printing presses worldwide will run with renewed energy and a number of bank customers will lose money due to excess deposit insurance, interest in cryptocurrency will grow.


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Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on March 22, 2023, 09:15:07 AM
Bitcoin: One of the best weeks in the history

The past week ended with a 36% increase, which is typical for the last stage of a bullish market. There have been only 16 such skyrocketing jumps since 2015.

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Wide interest in the network, not speculation, is what's behind this momentum. The number of transactions, which jumped to 309,500 a day, is an excellent indicator of this. A significant gap from the monthly average is also common in a bullish market when there's a growing influx of new users.

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The transition to a new bullish cycle is clearly demonstrated by the Z-score of miner revenue, which emerged from underwater. Their total income now exceeds $22 million a day, the highest level since June 2022. Increased online transaction fees, also driven by widespread interest in cryptocurrency, are contributing to the growth in revenue.

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Behind the increased interest in Bitcoin is a new financial crisis that regulators worldwide are trying to extinguish with new monetary injections. This will inevitably lead to another round of inflation, making Bitcoin — a deflationary cryptocurrency with a limited issuance and regular halving events — an attractive asset for savings.

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Bitcoin looks even more appealing against bank failures and modest amounts of deposit insurance. In the US, for example, this insurance is limited to $250,000, putting both small- and medium-sized businesses and citizens with a decent financial cushion at risk. Amid a total loss of funds, investing in the highly volatile Bitcoin no longer seems as bizarre an idea as crypto critics make it out to be.


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Post by: stormgain on March 23, 2023, 04:36:25 PM
Small players absorb twice as much Bitcoin as is mined by miners

The general public's interest in Bitcoin is growing every year, something clearly reflected in the decreasing share of whales (>1,000 BTC) and miners and the increase in shrimp (<1 BTC) and crabs (1-10 BTC). Detailed statistics on holder cohorts are provided by the analytical agency Glassnode.

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In the early days of the Bitcoin industry, the main holders were miners. As recognition grew, crypto enthusiasts and investors began to show interest, leading to a flow of coins to new market participants. The subsequent increase in mining difficulty, coupled with fierce competition, accelerated this process. In the second half of 2022, public miners sold more coins than they mined.

If we exclude lost Bitcoins (which have not seen movement for more than seven years), miners' holdings have shrunk to just 3.8% of the entire circulating supply.

(https://steemitimages.com/p/TZjG7hXReeVoAvXt2X6pMxYAb3q65xMju8wryWxKrsghkQ4wES49ug25P2d4JEzFofh3RnYXDm2ARt5VnD1ZYjKd7HxctxhMDUyEhAwRpa9GYJXxkR8MBkyVyF1pxdrwPZ36m9bGYbiFWv?format=match&mode=fit&width=640)

In contrast, increased interest in Bitcoin from the general public means that shrimps' supply has grown by 105% of what miners produced in the past year, while crabs have added 119%. Their combined share increased from 13.9% to 17% over the past two years.

The current accumulation rate by shrimp is 24,000 BTC per month, while at the time of the FTX crash, it reached 92,000 BTC a month. In total, this cohort currently holds 1.3 million BTC.

(https://steemitimages.com/p/TZjG7hXReeVoAvXt2X6pMxYAb3q65xMju8wryWxKrsghkQH2Dyjf2sS1eB783Qu15JR1k1PKHGSYU6WNRD7uLzAQK1izKkt3HsEAZzrxzWMFigW3PFjVCZTb8Es3gbMWaFb4UWh2XfBwpz?format=match&mode=fit&width=640)

Crabs are slightly less active, with a current accumulation rate of 7,300 BTC per month and a total holding of 2 million BTC.

(https://steemitimages.com/p/TZjG7hXReeVoAvXt2X6pMxYAb3q65xMju8wryWxKrsghkKeBX44AoLNBedXmGVEDk4Pzxijn9A47PTxHDBFrJAZnk1t9CKk6Kq8xWPUtBwH41yyosUgFqDdQN6keeXsTLuykA415f8edwc?format=match&mode=fit&width=640)

And while crabs are more cautious in their assessments of Bitcoin's prospects, shrimp are absorbing BTC in 2023 at an increased rate.

(https://steemitimages.com/p/TZjG7hXReeVoAvXt2X6pMxYAb3q65xMju8wryWxKrsghkLcUGh37zwus7hw31ZoP12gCCkBWjecXuwEyCrHMacPuBohVPmmqAcjRmp7XW7dkKtu7Y7BYe2LiZQSkkxc6cZH6vCPmyAK6wQ?format=match&mode=fit&width=640)

The increased demand for the cryptocurrency is due to the bankruptcy of several banks in the US and the potential spillover of this regional problem into a global financial crisis. A number of economists believe that the Fed will have to backtrack and not further tighten its monetary policy.

Bitcoin could be boosted today by Fed Chairman Jerome Powell's speech. The Fed is in a very difficult position, as maintaining a high key interest rate increases the risk of recession and new fissures in the financial system. A rate cut, on the other hand, would lead to rampant inflation and increased interest in risky assets.


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Post by: stormgain on March 27, 2023, 10:33:35 AM
SEC goes after Coinbase and Justin Sun

Gaps in the regulatory framework have not prevented the Securities and Exchange Commission (SEC) from going after crypto companies, accusing them of participating in illegal crypto schemes. This applies to all PoS cryptocurrencies, including Ethereum.

Coinbase

On 22 March, the SEC issued crypto exchange Coinbase a Wells Notice, which could lead to enforcement action if corrective measures are not taken. The warning is primarily related to the staking reward programme, which, according to the Howey Test of 1946, means the cryptocurrency can be classified as a security:

⦁    Investing
⦁    In a common enterprise
⦁    With the expectation of profit
⦁    As a result of the work of third parties

The Kraken crypto exchange received a similar letter in February and eventually discontinued its unregistered offer and sale of crypto asset staking and paying $30 million to settle the SEC charges. Coinbase, on the other hand, promised to take the matter to court, defending the right to staking to the last.

Coinbase said that they had met with the SEC more than 30 times in the past nine months. No detailed information has been provided by the regulator on how to differentiate between coins and how to get staking out of harm's way.

The key flaw in the SEC's claim is the lack of clear parameters by which cryptocurrencies can be classified as a security. The PoS algorithm is not a key criterion, as the regulator filed similar charges against Ripple.

Despite Coinbase CEO Brian Armstrong's aggresive stance, the Algorand network announced last night that it was terminating staking for the crypto exchange's customers. This led to a 10% drop in the coin's value.

(https://steemitimages.com/p/JvFFVmatwWHRfvmtd53nmEJ94xpKydwmbSC5H5svBACH7yNzXtHf4jm6UHik64PUffXipafcAKZYzYr4buEZj6NfeEQFoRiYgBB5W1PNzCKykgYVeLexacvZyhbPmtNzrK4RzGRZTt?format=match&mode=fit&width=640)

Coinbase staking options currently include Ethereum, Solana, Cardano, Tezos and Cosmos, but the precedent has been set, paving the way for further concessions to the regulator.

Justin Sun

And whilst the SEC creates the appearance of dialogue with cryptocurrencies, it has gone straight for the jugular and sued Justin Sun and his companies (the Tron Foundation, BitTorrent Foundation and Rainberry). The founder of the Tron network is not only accused of the unregistered offer and sale of crypto asset securities but also of price manipulation.

According to the regulator, Sun fraudulently manipulated the secondary market for TRX and BTT through extensive wash trading. Sun allegedly directed his employees to engage in more than 600,000 wash trades of TRX between two crypto asset trading platform accounts to give the impression of liquidity and increase the price. The daily volume of "trades" ranged from 4.5 million to 7.4 million TRX. Sun generated proceeds of $31 million from the illegal, unregistered offer and sale of the TRX token.

(https://steemitimages.com/p/JvFFVmatwWHRfvmtd53nmEJ94xpKydwmbSC5H5svBACH7yP985y6BskKj5sBn9FsFMsr44Qy2LEuYnoygDJQoEPsovchHpiA1PzP5uqTZG6fLfUVwNTheajkLDA2dZbZPwXpB3EbeN?format=match&mode=fit&width=640)

"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. Sun further induced investors to purchase TRX and BTT by orchestrating a promotional campaign in which he and his celebrity promoters hid the fact that the celebrities were paid for their tweets," the SEC said in a statement.

The celebrities include DeAndre Cortez Way (Soulja Boy), Jake Paul, Lindsay Lohan, Aliaune Thiam (Akon), and Austin Mahone. Most of them agreed to a pre-trial settlement, each paying a six-figure fine.


StormGain Analytical Group (https://stormgain.com/easy-start)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on March 28, 2023, 11:06:24 AM
Reasons for Litecoin's rise

Litecoin has shown the best growth among the top 20 coins for the last two days. In addition to the cryptocurrency being significantly oversold, this is also due to its higher usability compared to Bitcoin and to the threat looming over stablecoins and PoS coins.

Litecoin resembles its big brother in that it relies on miners' work, its total supply is limited, and there are regular reductions in the reward per block. The altcoin was created to conduct much quicker transactions with lower fees. For example, the average fee on the Bitcoin network is now $3.70, while it's just $0.01 on Litecoin.

(https://steemitimages.com/p/EEEoA8oLaAxsTkPYAARp78o5cJA1o6Chv9x98TzCFT6v5HxBLjqznfecYrhkTjeVD8gc2T8qySDVWcnn2vtRRx3BWrN9Mk4kVjJiW4skx5JM96Tfb7Q9CHbP7ZEQu1e8qCHY6soQpdM5cYMKcx9yG?format=match&mode=fit&width=640)

In 2023, interest in Bitcoin is on the rise again, with the increase in commissions mainly due to the emergence of the Ordinals protocol and the ability to transfer digital objects (similar to NFTs). The massive mint of Ordinals led to a sharp growth in the average block size and higher fees. Miners were happy with the innovation, receiving $3.5 million in extra income in two short months.

(https://steemitimages.com/p/EEEoA8oLaAxsTkPYAARp78o5cJA1o6Chv9x98TzCFT6v5G2J1vEGwpQj2ujtW9EgFiYPKAW36Tu2BKDimDCPzi68rbxnyZCBUcEUk4h9yV5Cx7oNHNosJaHjvsp93TeN2kPgxg32YtpF58Zo2btGv?format=match&mode=fit&width=640)

Ordinals were also introduced on Litecoin in February, but interest in them was naturally lower, so their implementation had no noticeable impact on commission values.

When it comes to Litecoin's place in the overall ranking of cryptocurrencies by capitalisation, its drop from 2nd place to 13th is due to the emergence of stablecoins and smart contract networks. Bitcoin retained its leadership thanks to its role as a store of value. However, the top spot by transactions was overtaken by smarter competitors that provide the opportunity for passive income from staking. This prevented LTC from getting the most out of the 2020-2021 rally.

(https://steemitimages.com/p/EEEoA8oLaAxsTkPYAARp78o5cJA1o6Chv9x98TzCFT6v5G27soL94ftTnjQH8G1NpeWgAFup5nSb4ryDvi8YPS8YFLgQ9XHVRERgUmBfE8g1pot5Nr7jrYQT5UdQVwZVuV4xUTMrcpFQQLrqAsynv?format=match&mode=fit&width=640)

Ironically, the increased interest in Litecoin in 2023 could be caused by US regulators' actions against PoS coins and some large stablecoin issuers. SEC pre-enforcement notices are already underway against Tether and Binance, and PoS coins could be recognised as securities. Attacks by regulators led to the Kraken cryptocurrency exchange's recent rescission of staking services. Just recently, Coinbase removed Algorand from its list of coins for passive income. If the risks bear out, investment interest from coins such as Ethereum, Cardano and Solana could shift towards Litecoin.

A halving event expected to take place in August may be an additional growth driver. The block mining reward will drop from 12.5 LTC to 6.25 LTC. The deflationary mechanism, coupled with the limit on the total number of coins, ensures that the circulating supply is reduced and causes the price to rise. This contrasts strongly with the Fed's monetary policy, which has returned to printing dollars to prevent a banking crisis.


StormGain Analytical Group (https://stormgain.com/easy-start)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on March 29, 2023, 10:21:05 AM
Billionaires on the crisis in the U.S.: We're in for a train wreck

Last week, Treasury Secretary Janet Yellen warned that the treasury isn't considering guaranteeing all bank deposits. This has exacerbated the crisis of confidence, and, in the near future, dozens of small banks will face liquidity outflows in favor of systemically important banks (SIBs).

The outflow of deposits will intensify the crisis, as the high key rate has led to losses of banks relying on long-term treasury bonds for reserves. The sector's total unrecorded losses by the end of 2022 alone exceeded $600 billion.

(https://steemitimages.com/p/LcTxR7u1XKaa3e4T1EBuBP18JezPvjFFo8gNuE9CiKHBn3bZKE3XiM9uZdxsRpP8Cz3y3SJTCUgRiVrktxaH7DnqP8m3bpubfMzqBUA3yFN3Ts9EKdvqwSnvSBA5GHcDC4hbC52pC9kPvQh7xumNGwV9g?format=match&mode=fit&width=640)

When customers withdraw funds in droves, banks are forced to sell debt securities at a loss, which leads to the inevitable announcement that the institution is no longer profitable/has gone bankrupt. Prompted by high deposit outflows, SVB sold $21 billion worth of securities before it closed, incurring a 9% loss from the operations.

There can be little doubt that with further increases in the key rate and the lack of comprehensive deposit insurance, the bankruptcy of a number of small banks is a matter of if not when. Billionaire and CEO of Pershing Square Capital Management Bill Eckman had this to say about the events:

"The longer this banking crisis is allowed to continue, the greater the damage to smaller banks and their ability to access low-cost capital. Trust and confidence are earned over many years, but can be wiped out in a few short days. I fear we are heading for another a train wreck".

Starwood Capital Group chairman and billionaire Barry Sternlicht warned of an impending hard landing: "Interest rates have to fall. The economy is going to implode".

Billionaire and U.S. venture pioneer Tim Draper urged businesses to prepare for a wave of bank failures and offered some useful advice to CEOs:

- Have at least 6 months of short-term cash to cover operating expenses, keeping one half at a local bank and the other at a major international institution.
- Develop a contingency plan in case a bank goes bankrupt. Remember that the company management is responsible for paying wages even in times of crisis.
- Have at least two payrolls worth of Bitcoin and other crypto in the company’s wallet.

(https://steemitimages.com/p/LcTxR7u1XKaa3e4T1EBuBP18JezPvjFFo8gNuE9CiKHBn3JTriRvoTjpJno1ZhCkthyArgfQozn7rrgF9YqnLhy6MtzReEad3pgL5Uq1MAZxaCG7JTLP8J8doZDHmJ1ykG4Z2reJabJoMfvWedJ29nNTg?format=match&mode=fit&width=640)

The government can lend a helping hand to banks by promising emergency insurance on all deposits (as Bill Ackman calls for). The government guarantees deposits of up to $250,000 only. However, a number of experts warn that such a measure would set a dangerous precedent and lead to more aggressive (or negligent) practices by banks in the future.

To stabilize the situation, the Fed has already launched additional lending programmes and boosted the balance sheet to $400 billion, which runs counter to raising the key rate. The turmoil in the regulator's financial policy opens up new prospects for the growth of instruments with a "store of value" status, such as gold or Bitcoin.


StormGain Analytics Group (https://stormgain.com/easy-start)
(an all-in-one cryptocurrency platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on March 30, 2023, 04:29:35 PM
The CFTC could deliver a fatal blow to Binance

On March 27, the Commodity Futures Trading Commission (CFTC) sued Binance, accusing the cryptocurrency exchange of violating several laws. It is accused of conducting unregistered futures transactions and commodity options, evading KYC/AML policies (serving U.S. customers to circumnavigate restrictions), illegal operations (transactions with Hamas, recognized as a terrorist organization by several countries), and market manipulation.

The scope of the charges suggests that Binance will have difficulty reaching a pre-trial settlement with the Commission with just a warning and a fine. Adam Cochran believes that the CFTC is capable of burying the cryptocurrency. Even in the case of a pre-trial settlement, it would be fined billions of dollars and banned from trading in the United States. If the company and Changpeng Zhao (CZ) are found guilty by the court, most financial institutions globally will stop working with the cryptocurrency exchange. And it would also allow U.S. law enforcement to request information about all their accounts and transactions, potentially leading to even more serious consequences.

Adam Cochran also points out that, unlike the SEC, the CFTC doesn't mess around. So this is a lot more serious than the SEC litigation against Ripple, Kraken, or Coinbase.

(https://steemitimages.com/p/JvFFVmatwWHRfvmtd53nmEJ94xpKydwmbSC5H5svBACH81UdstwK5SBmL7LKQuF2hFyJZ5eTRfVSY7gskXRtHoq3TLp18jGtRBRKmJWrPW8t2HPDvoXAXTArqHjmb7J5oTTzyAnEWi?format=match&mode=fit&width=640)

In Monday's news, BNB slumped 7%, and a number of analysts predict a free fall of the coin to the $200 mark if the conflict escalates.

(https://steemitimages.com/p/JvFFVmatwWHRfvmtd53nmEJ94xpKydwmbSC5H5svBACH7xrLVoyGAbapEYafHA7YjvobgRS6tSpZe22yVmZCVXmFsbwiuA54tYbrLvYMxBkECAqycMgwEeyhRjA1dBA9RYbnUzvfqx?format=match&mode=fit&width=640)

This could cause a wide range of instruments to collapse, and Bitcoin would face a decline in liquidity. The CFTC cites the example of internal chats and correspondence, where CZ asks the team to ensure that a top client does not connect using an American IP address. At that time, this trader alone was responsible for 12% of the total trading volume.

Disconnecting U.S. investors would affect liquidity in Binance, and may make the market more susceptible to manipulation. Bitcoin has already sunk lower than it did during the FTX crash.

(https://steemitimages.com/p/JvFFVmatwWHRfvmtd53nmEJ94xpKydwmbSC5H5svBACH7xxbPum1hEiozTYKqYcVrnknu8w7x62pnkPMwbp7D9dqnNiCqSpbZBtMgmJkDn5tzp5HBTg84atnV14TWAieuNztWc27pr?format=match&mode=fit&width=640)

There is an interesting aspect of the CFTC claim that cannot be ignored. To press charges on its own behalf, the Commission recognises BTC, ETH, LTC, USDT and BUSD as commodities. This goes against the position of the SEC, which calls these coins securities (except for BTC).

The different perspectives on cryptocurrency and the tug-of-war by regulators once again points to the regulatory gaps and the challenges that hinder innovation.


StormGain Analytics Group (https://stormgain.com/easy-start)
(an all-in-one cryptocurrency platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on March 31, 2023, 11:49:40 AM
Pump & Dump? XRP (Ripple) is up 39% in March

Bitcoin is up 23% in March, with Ethereum up 10%. But these are small gains compared to Ripple's XRP 39% prize surge. This is due to the rumours filtering through that Ripple will soon win the lawsuit initiated by the SEC and the potential pumping of the token.

(https://steemitimages.com/p/RGgukq5E6HBM2jscGd4Sszpv94XxHH2uqxMY9z21vaqHt4VRsdRGxM9QVoV8TiH6LW6CMaUmjACs3vyzHgHnRY3V7AEXVJ1NciSkVsmwdVDdWRs3AK5pn6VftDsRx7p?format=match&mode=fit&width=640)

The lawsuit against Ripple was initiated in 2020. The regulator has taken legal action against the company for raising more than $1.3 billion through an unregistered, ongoing digital asset securities offering. Ripple insists that XRP is exactly the same commodity as Bitcoin.

In March, company representatives and a number of cryptopreneurs reported that Ripple is expected to win. BTSE CEO Henry Liu shared on social media that Ripple and the SEC have possibly agreed to a settlement. The date of the court ruling remains unknown.

A wave of optimistic reports led to XRP's surge in March.

(https://steemitimages.com/p/RGgukq5E6HBM2jscGd4Sszpv94XxHH2uqxMY9z21vaqHt1rJDpZzyC3kdDXSBrpeAkDXrFBGCae6ToPdgpf7VRV1oLrUW2rw3Wd5muYcucJ4CBGkWaDCefYkkaQNkfg?format=match&mode=fit&width=640)

And open interest in futures is at semi-annual highs, hitting $730 million on March 30.

(https://steemitimages.com/p/RGgukq5E6HBM2jscGd4Sszpv94XxHH2uqxMY9z21vaqHt4sYuPssB8UxbAUVr7nSpmBn8o72Sq6eanD1RVvU1Ad2ziBbHbpF98TB7h3R545xqXBdargRp7dn54RqV5p?format=match&mode=fit&width=640)

That said, investors should be aware of the following points when investing in XRP. Firstly, it is a centralized product, and 100 billion tokens were created at launch. Ripple denies that it has ever been an issuer of securities in connection with distributions of XRP, as the token founders took 80 billion XRP and gave it to Ripple, and one of them later became the CEO of Ripple Labs.

Secondly, about 43 billion XRP (43% of the total issue) is held in escrow and the company can spend up to 1 billion XRP (~$0.5 billion at current prices) a month to grow the business.

(https://steemitimages.com/p/RGgukq5E6HBM2jscGd4Sszpv94XxHH2uqxMY9z21vaqHt19Rcc4AboHB1ZWNbukxG7adzXGMpRytF3M4CR5n7oiRFTnC741DWysKdVFrN1GfRUDS35Hta5ohc2V4MXt?format=match&mode=fit&width=640)

Thirdly, XRP cannot be called a cryptocurrency in the full sense of the word. CEO Brad Garlinghouse calls Ripple a payment system for cross-border transactions between financial institutions. The network uses distributed ledger technology, and the list of recommended validators is published by Ripple itself.

The March surge could be a result of price pumping and the desire of the big players to dump some coins at high prices. A potential victory over the SEC is a good pretext. XRP is a far cry from Bitcoin in its architecture, and it was not designated as a commodity in the CFTC's claim against Binance. The two regulators may share a similar view of XRP, in which case Ripple's chances of having the token recognized as a commodity are limited.


StormGain Analytical Group (https://stormgain.com/easy-start)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on April 03, 2023, 05:49:59 PM
The stablecoin market is shrinking. Is it worth keeping your savings in USDT?

The issue of stablecoin solvency came to a head last May with the collapse of the third-largest stablecoin, UST. If the market value of global stablecoin assets at that time was estimated at $162 billion, it has now fallen to $133 billion. This amounts to an 18% drop in one year.

The recent rebound in the cryptocurrency market has not led to an increase in demand for stablecoins.

(https://steemitimages.com/p/7b4bio5hobgskW8qdPdvSqcwwJTvbiCMpGmRey1Rtd8H5r61mgNGTdxF7m9ebYGXSb1TNKcViieN3q3kt8qNiyHMCLQXkh7wpe1Ug3p2be1PC8vFFb6hPAeWKVDgXZQaQi8j77i2dwQE5P1qxiUxpgXbB9ok?format=match&mode=fit&width=640)

Firstly, there has been no increase in marketplace trading, leading to a drop in demand for stablecoins. In November, the market was rocked by the collapse of FTX, and now US regulators are taking on Binance. According to The Block, $2.2 billion worth of cryptocurrency was withdrawn from the cryptocurrency exchange on 27-28 March alone. After locking in some profits in March, users reverted to withdrawing Bitcoin from cryptocurrency exchanges to cold storage wallets.

(https://steemitimages.com/p/7b4bio5hobgskW8qdPdvSqcwwJTvbiCMpGmRey1Rtd8H5qm4m9Ki9QiXbkmb5zVy1BbvKWz4jaq9bL849fSjkwi4n3ufrgeaFmTFEt7HTBA8mbDw7KZLqwCpumr8TtRjBHoRs3R7qTprn8z8EPdY2P6RC8Jz?format=match&mode=fit&width=640)

Secondly, the New York State Department of Financial Services (NYDFS) pressured Paxos to cease issuing the Binance stablecoin. On 21 February, Paxos stopped minting new BUSD tokens, and support for the stablecoin will probably be completely discontinued within a year. A month and a half after the NYDFS's action, BUSD's market cap was cut in half to $7.6 billion.

Thirdly, confidence was shaken in USDC, the most reliable stablecoin in terms of regulatory compliance and its reserves. The bankruptcy of SVB, in which Circle (USDC issuer) held part of its reserves, led to the stablecoin losing its peg to the US dollar. On 11 March, the discount exceeded 10%.

By agreeing to the emergency measures, the government rescued SVB's depositors. At the same time, there is still a risk of new bankruptcies, and US Treasury Secretary Janet Yellen announced that there are no plans to provide blanket insurance to all banks. This could lead to new sharp fluctuations in the exchange rate of USDC, whose partner banks include Bank of New York Mellon, Citizens Trust Bank, Customers Bank, New York Community Bank, a division of Flagstar Bank, N.A., Signature Bank, Silicon Valley Bank and Silvergate Bank. The latter three have already gone under.

(https://steemitimages.com/p/7b4bio5hobgskW8qdPdvSqcwwJTvbiCMpGmRey1Rtd8H5qwXRykyizpLTUzF2sjMmfhfzwmqQH7LcLb4zp6tBJ5ixkaKpp12vyqeQmtiS2YWuyTqx3DfRxPk8AW7ZyQey63LfmCNyjAGmnyUdVVxtrECsa78?format=match&mode=fit&width=640)

Some users decided to wait out the hard times in BTC or ETH, with others preferring to stick with USDT for savings. As a result, its share of the stablecoin market exceeded 60%, and its capitalisation jumped to $80 billion.

(https://steemitimages.com/p/7b4bio5hobgskW8qdPdvSqcwwJTvbiCMpGmRey1Rtd8H5qc7ErobNkwuJhi7jNdUqtAb8KsxG6FQt72i2ngMAaL39qfkfpZDUb5gnvD7XJrsiqZ9KaHB9AMbeU5yjaKBXYiiYkvH7hGMYcLwzpz7yYbGeDTU?format=match&mode=fit&width=640)

Tether similarly relies on banks to hold reserves, but unlike Circle, it doesn't disclose partner banks in its audit. This makes it difficult to even approximate the risk of their bankruptcy. In this case, the user agreement states that the company bears no liability in the event of such an outcome.

Tether's management may also soon face new charges from the supervisory authorities. Last year, for example, a US judge requested accounting and financial records for all transactions conducted over the past five years in connection with an investigation into the minting sprees of USDT to pump Bitcoin in 2017.

(https://steemitimages.com/p/7b4bio5hobgskW8qdPdvSqcwwJTvbiCMpGmRey1Rtd8H5rZmbSB5mjaqrdqaFw4Ndqva4T7mu3Wi9rG2SDE6EC8UavTZupjiArv66nsqe95bPuxBVX7hWwoTSJ4hHCoZzUUxShybtZtwBLAcgTZ5nAcYiEWA?format=match&mode=fit&width=640)

The quality of reserves has always been a little questionable, with commercial loans (and other forms of liabilities) issued in USDT by third parties being part of them. In the case of a rapid outflow of funds, the company risks incurring a liquidity crisis, and the USDT would lose its peg to the US dollar.

Given the tightening of crypto regulation and possible lawsuits, the crisis in the banking sector and questions about the quality of reserves to keep money in USDT should be treated with caution.


StormGain Analytical Group (https://stormgain.com/easy-start)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on April 04, 2023, 10:17:26 AM
Institutional investors are returning to Bitcoin

In March, total investments in crypto funds (assets under management) jumped by 11% to $31.4 billion. This is the best result since the crypto sell-off last May triggered by the collapse of Terra and the third-biggest stablecoin UST. According to CCData (previously, CryptoCompare), if there had been no pressure on the industry from supervisory authorities, the increase in investment would've been much greater.

(https://cdn.publish0x.com/prod/fs/cachedimages/4178794466-d201773e50fb09625b4731e73cb3d386116af1451f2aa0fbc659106607070ae1.webp)

A significant difference in the current volume of investment is the strong predominance of Bitcoin. Its share reached 72.4%, or $22.7 billion, with Ethereum accounting for another $7.2 billion. Other coins only account make up $1.5 billion, or 5% of total crypto assets under management, compared to 13% in January 2021.

(https://cdn.publish0x.com/prod/fs/cachedimages/3870172413-d8b56e7af0c2cba7c8278a563c72b7c8531df59b90fa2d35e1732c91a16b67dc.webp)

The Bitcoin trend is brought on by several factors. First, in 2023, US regulators launched a campaign against PoS coins, calling them securities. As a result, cryptocurrency exchange Kraken was forced to stop providing staking services, and Paxos stopped minting BUSD for Binance on 21 February. In the eyes of investors, the pressure on altcoins increases the value of Bitcoin, which both the SEC and the CFTC recognise as a commodity in their working papers.

Secondly, like gold, Bitcoin is considered by many experts (e.g., the analytical division of Bank of America) to be a store of value. With rising inflation, the collapse of a number of banks and the lack of insurance in the US for deposits over $250,000, interest in Bitcoin is reemerging. Previously, analysts from BofA noted that the cryptocurrency has a higher correlation with inflation than gold does.

(https://cdn.publish0x.com/prod/fs/cachedimages/194465003-68d60c350e0d7340548f8435f5446f0be3ecb971f3f88b50f6c71d07940e6a77.webp)

Simply put, as inflation rises, Bitcoin is likely to grow stronger than gold. At the same time, the Fed faces increasing difficulty in combating it, as the tightening of monetary policy has led to a crisis in the banking sector. The regulator printed almost $400 billion in two weeks and launched the Bank Term Funding Program (BTFP) to avoid new crises. This step contradicts the increase in the key interest rate and the regulator's attempt to slow down price growth.

Under such conditions, the attractiveness of goods with limited supply, which can't be printed to cover excessive government spending, increases dramatically. The same circumstance encourages institutional investors to boost their investments in Bitcoin, despite increased regulatory pressure.


StormGain Analytical Group (https://stormgain.com/easy-start)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on April 05, 2023, 12:13:08 PM
What's happening with the coin flows on Binance?

Binance has run into some new challenges in 2023: Paxos stopped minting BUSD and a lawsuit from the Commodity Futures Trading Commission (CFTC). Glassnode has studied coin flows to assess the state of Binance's balance sheets and the degree of customer confidence.

Stablecoins are the focal point in crypto exchange operations, being both base payment currency and a link between fiat money and crypto. Some users keep their savings in stablecoins, avoiding being stressed by high volatility.

(https://steemitimages.com/p/32FTXiZsHoAW6noHJDhrg3W8ZKHVFSsLYM859aTDCF8iErXFCzvRf4mtk8j3Ea9EumgRyJYcTSLDdLQscmMWhszwnJjmpUYoCutNU15i4vNQhsGBPSVk5vJjF7QZTHHZ16fCdQb3dtL7RxT8?format=match&mode=fit&width=640)

But after a bunch of grim news for Binance, the net stablecoins outflow set a new all-time high, reaching $295 million in a day.

(https://steemitimages.com/p/32FTXiZsHoAW6noHJDhrg3W8ZKHVFSsLYM859aTDCF8iErJTX7zeuAJsNRRpJpb5xkcD1MwbAhiNUHPYmXBqvFzhwT9Cu9oCi2ok8a6hDkuPidivsB1ZD8UGVYjXwdbhmRBYfMhJZD3idnMU?format=match&mode=fit&width=640)

The total amount of client funds, referred to as reserves under the proof of reserve standard, hasn't changed significantly this year. And when assessing their decline from the highs, it turns out that Bitcoin alone has dropped by 45.1% versus 58.3%, respectively.

(https://steemitimages.com/p/32FTXiZsHoAW6noHJDhrg3W8ZKHVFSsLYM859aTDCF8iErY22NF8Kqwrd8kk7PSckQKXybBM8FdkAxKbqMs7APT8m9Z5T4uc5dFJS7M7UnMuNMSsoU7U3svPcbe2c4EivoYUoKnaxZfhC6nA?format=match&mode=fit&width=640)

The comparison in dollars isn't quite right, given both the changing market conditions and the gradual withdrawal of BUSD from circulation. Looking at the balances in the major coins, the reserves in ETH remained unchanged in 2023, while in BTC, they increased by 68,000. This shows users' confidence in Binance's credibility, despite regulators' actions.

(https://steemitimages.com/p/32FTXiZsHoAW6noHJDhrg3W8ZKHVFSsLYM859aTDCF8iErKKNtjBbmRVdtvZqKQjfdQ2U4wY91SuMaEoDv9gzWebtV5a4dYEqgb11A48wsRxdBi3XcJnzACRs5Fnbu5dc1A87tQzQajAoTqY?format=match&mode=fit&width=640)

In terms of flows, the real drama unfolded behind the scenes as Binance's attempt to make BUSD a top stablecoin failed. Users have barely noticed that, as only 15% of the issued coins were located outside the crypto exchange on the best of days. To compare, the USDT share on Binance averages less than 4% of the circulating supply.

(https://steemitimages.com/p/32FTXiZsHoAW6noHJDhrg3W8ZKHVFSsLYM859aTDCF8iErDJSrLSn2qviH2dzV6VQezq7JVhpXsrPkYm3xpuPrjYxN7patRZcQGewf2YXGT8jhiBUxpTA9YiGLc7dEs6ho2pnxYHkWJPat6r?format=match&mode=fit&width=640)

Despite the severity of the legal claims and BUSD's gradual withdrawal, confidence in the crypto exchange remains high.


StormGain Analytical Group (https://stormgain.com/easy-start)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on April 07, 2023, 09:24:41 AM
Bitcoin liquidity hits new lows

The bankruptcy of leading cryptocurrency banks (Silvergate, SVB, Signature) and the hidden displacement of the crypto industry from the financial system in the US have driven Bitcoin liquidity down to a 10-month low.

(https://steemitimages.com/p/EEEoA8oLaAxsTkPYAARp78o5cJA1o6Chv9x98TzCFT6v5J96mTMJhK72kHLmJdzPrjiRBZRNVmzkTLau6qXw14CVDWGetUJridEAxA7mF5SpYsXeJmqACrjrUbPGnMCqQmWVJYMLWPznnNzCDN3Bt?format=match&mode=fit&width=640)

In this case, liquidity is measured by the volume of buy and sell orders within a 2% price range. Simply put, the more buyers and sellers there are, the more efficiently the market processes orders. With high liquidity, it's more difficult for a large participant to influence an asset's price, which reduces the risk of manipulation, And price volatility goes down correspondingly.

Bank collapses and a series of regulatory hurdles have reduced the presence of market makers, resulting in Bitcoin's liquidity being worse than during the collapse of FTX, the third-largest cryptocurrency exchange Liquidity on US crypto exchanges has also declined relative to other market participants, and the slippage rate for $100,000 in volume has increased 2.5 times on Coinbase in a month.

(https://steemitimages.com/p/EEEoA8oLaAxsTkPYAARp78o5cJA1o6Chv9x98TzCFT6v5J4Dc7cde3cc2qkHAYaXPaVWuRpZoev7nC2veZa5edxKYKVteQ83QiVY2PAyE1CQ6QFbDLzQkSoRZH3LLo6ii6k1DLtvUJeBEhox1sQ38?format=match&mode=fit&width=640)

Binance's US unit has faced the same problems, with volatility in the BTC/USD pair increasing several times over compared to March 2022.

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Conor Ryder, a research analyst at Kaiko, believes that liquidity levels will soon recover since trading volumes have returned to growth in 2023.

(https://steemitimages.com/p/EEEoA8oLaAxsTkPYAARp78o5cJA1o6Chv9x98TzCFT6v5J3qtwnmgEHGUmWx6VmNRibKTeihYi29FdsANfjLTuehk5av5Aw2sWTG1RS5CfCz5hdMBKZ3NboRXuSyBmXqbMKd8J1KUGJa5gDYE6sT4?format=match&mode=fit&width=640)

Increased interest in cryptocurrencies, especially Bitcoin, has been driven by the worsening macroeconomic environment and the US banking crisis.

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Economist Nouriel Roubini believes that the actual unrecorded losses of US banks aren't $620 billion (as reported by the FDIC) but $1.8 trillion. In other words, 80% of banks' capital is under water due to the tightening of its monetary policy, which has led to a number of instruments on banks' balance sheets losing part of their value. In the event of increased deposit outflows, everyone will face a liquidity crisis, and new bankruptcies could trigger a chain reaction in the industry.

"In fact, judging by the quality of their capital, most US banks are technically near insolvency, and hundreds are already fully insolvent," Marketwatch quotes Roubini.


StormGain Analytical Group (https://stormgain.com/easy-start)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on April 10, 2023, 05:13:06 PM
April is one of the best months for Bitcoin

Bitcoin has already shown excellent results in 2023, rising by 69% and being dubbed the most effective financial instrument by Goldman Sachs.

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Some experts believe the cryptocurrency will struggle to cross the $30,000 mark in the medium term after a strong start. Bloomberg analyst Mike McGlone notes this in particular, citing the shrinking money supply of the US dollar and the withdrawal of funds from bank deposits.

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But it was the collapse of several banks and the lack of total deposit insurance that caused a growth of interest in Bitcoin and its subsequent rise. The cryptocurrency remains a highly-volatile tool, and owing to decentralisation, no regulators can completely devalue accumulated funds. This is why some analysts call Bitcoin a store of value.

(https://steemitimages.com/p/gPCasciUWmEwHnsXKML7xF4NE4zxEVyvENsPKp9LmDaFuyzS14BktjyP8TXsozU5ApxfePvaPNhiZbGVRTSMkQDu9wJkZfJMDv9Uf43EjhfGY8Tfv4RmixrNBWi91WAXFhnJV6SkmNx6ecutY6?format=match&mode=fit&width=640)

Further degradation of the situation surrounding the banking sector is highly likely to cause an outflow of capital into cash funds and Treasury bonds (as McGlone writes) and Bitcoin.

Looking ahead, from a statistical point of view, April is the second month after October in terms of growth, with an average 15.6% increase over the last five years.

(https://steemitimages.com/p/gPCasciUWmEwHnsXKML7xF4NE4zxEVyvENsPKp9LmDaFv1926gQjq31Mbtv974jCBNqhZp3nDGcdbZzLPU1iVWEAJiHqEojR1NfQn15i2zh7mpDAw3eSBviUR6oqGQukbNvSzSiSbRYvXoCNBQ?format=match&mode=fit&width=640)

A number of top managers are also positive about the future: SkyBridge Capital founder Anthony Scaramucci believes the bearish cycle is over, and Bitcoin is returning to a growth trajectory. In his tweet, he notes the cyclical nature of cryptocurrency and the need for long-term planning: "Any time that you've held #Bitcoin in a four-year rolling interval, you've outperformed every other asset class."

MicroStrategy head Michael Saylor agrees with his position, having built up his holdings to 140,000 BTC worth $3.9 billion in the past two months. MicroStrategy is the largest public holder of Bitcoin, with an average purchase price of $29,803.


StormGain Analytical Group (https://stormgain.com/easy-start)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on April 12, 2023, 10:09:24 AM
Bitcoin hits $30K as OG crypto reaches new high for 2023

Bitcoin (BTC) is riding high this week as the original cryptocurrency broke the $30,000 mark on Tuesday, reaching a high that has not been seen since June 2022 and setting a record for the year so far.

The world's largest cryptocurrency by market cap has recorded gains of more than 45% over the last 30 days, boosted by instability in the fiat currency world amidst interest rate hikes and bank runs.

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Traders are currently looking forward to the next United States Consumer Price Index (CPI) report, due on 12 April, which will provide an indication of the state of inflation in the US. Analysts predict that the result will see the US dollar continue to fall in value and likely boost Bitcoin and other cryptocurrencies as investors turn to digital assets when confidence in the dollar is low.
 
Greed is in the air. Can the gains be sustained?

The Crypto Fear and Greed Index, designed to display the emotional state of the cryptocurrency market, has been stuck firmly in "Greed" greed mode for almost a week, with the latest 11 April update showing a score of 68 out of a possible total of 100.

(https://steemitimages.com/p/cyxkEVqiiLy2ofdgrJNxeZC3WCHPBwR7MjUDzY4kBNr81LPeXMfBUpVPkhz53dUMt9QDCUhzrKeRxdhZMD2hqzwdNfiVbjr3onSNrz7M8MAV42RHVEzD9JDssai5UGa9FTU?format=match&mode=fit&width=640)
Fear and Greed index for the crypto market on 11 April 2023

Analysts have noted that the current level of market greed is equivalent to BTC's previous all-time highs in 2021 and that traders may be looking to cash in on the recent gains. However, one positive indicator is that the rate of Bitcoin holders continues to rise this year, with a higher percentage of investors looking to be in for the long ride to the moon.

The fact remains that, amidst political and monetary instability, Bitcoin has stood out as one of the best-performing assets of 2023. If you're looking to invest in BTC and a range of top altcoins, then sign up with StormGain (https://stormgain.com/easy-start) for the best conditions on the market.
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on April 14, 2023, 10:26:26 AM
Ethereum Shapella Update: What Does It Mean For ETH?

The Ethereum network has just deployed the Shapella hard fork. This long-awaited update enables validators to finally withdraw their staked Ethereum (ETH) from the Beacon Chain. In the lead-up to the update, traders appeared uncertain about whether this would lead to an ETH sell-off, as the market could potentially be flooded with millions of new tokens. However, the initial metrics appear to be painting a different picture. Here’s what has happened with Ethereum since the update so far.

An hour after the hard fork was deployed, 4,333 withdrawals had been carried out for a total of 12,859 Ether, which is less than 0.07% of the ETH staked on the Beacon Chain. Most of the withdrawals were around 3 ETH, suggesting that the majority of withdrawal activity consists of people cashing out their staking rewards.

(https://steemitimages.com/p/vM1pGHgNcyCXUWJECrZbvn1NMPj1oFGUo3gYfF3NNPRD9VZo3c3KkCRn1cnP7FAQmoNCZPEAbK2sF7F97oJ3MJnHLarP4PJxpg27zHU4ga2GQ1VRzcDpPgK98C8NLqsxFvTWHpz?format=match&mode=fit&width=640)

So far, the price of ETH has remained stable at around $2000, with no indication of a large amount of ETH being dumped into the market. Currently, just under half of ETH validators — 248,043 out of 559,549 total active users — can withdraw their staked ETH. However, only 3,996 validators made withdrawal requests just after the Shapella hard fork took effect, and the latest data shows a total of 284,622 Ether due for withdrawal by 7,948 validators.

In theory, over 18 million Ether, worth about $34.8 billion at the current exchange rate, could be unlocked after the Shapella fork. However, the Ethereum Foundation has implemented several mechanisms to prevent a market inundation of ETH, and this approach appears to be working, as the price of ETH has moved up slightly (6%) since Shapella.

(https://steemitimages.com/p/vM1pGHgNcyCXUWJECrZbvn1NMPj1oFGUo3gYfF3NNPRD9WLjBGCaR7SqWQAtsx2FrrAotVPkgkDwQrERkwvSmYgNRrY3kxVJzMw2gb74j5SRb6NSkYuRpwFFnT3AkFYJ5bXhmUz?format=match&mode=fit&width=640)

ETH has increased in value by 58% over the past year to date as Ethereum moves closer to a fully functional proof-of-stake system, but its market performance lags behind Bitcoin (BTC), and the ETH/BTC price ratio has dropped to 0.063, a nine-month low. The lacklustre performance of ETH could be due to uncertainties surrounding its consensus model transition. The number of withdrawal requests on Ethereum is still crucial to watch for ETH traders, but early signs do not support either a huge price pump or a runaway sell-off as the price looks set to cross the $2,000 resistance level.

For the best trading conditions on ETH and other cryptos, StormGain has you covered with up-to-date signals and analytical tools. Not a StormGain user? Sign up in just a few seconds to join the exciting world of crypto trading (https://stormgain.com/easy-start).
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on April 17, 2023, 11:01:58 AM
Whales Accumulate XRP in Anticipation of Bullish Trend

Ripple (XRP) has been enjoying a long-running price rally, jumping a full 55% since 21 March and trading at around $0.57, its highest price since October 2022. This surge in value has been matched by daily trading volume and user activity on the XRP blockchain, with whales swooping in to scoop up even more of the popular altcoin. They're accumulating XRP in anticipation of what looks to be a favourable outcome for the cryptocurrency's parent company in the ongoing case of SEC vs Ripple.

What is XRP, and why is it valuable?

XRP is one of the top altcoins in the crypto ecosystem, currently ranking sixth by market cap. XRP was created in 2012 to serve as a faster, cheaper and more scalable alternative to Bitcoin (BTC). It can boast fast transaction speeds and very low transaction fees, making it suited to large-scale, cross-border financial operations.

In the same year, the Ripple company was established to facilitate currency exchange and payment settlements around the world using the XRP blockchain for validating transactions. Ripple has partnered with large traditional financial institutions such as Bank of America and Santander, proving the usefulness of cryptocurrencies as a tool to improve the existing banking system and generally boosting the profile of digital assets as a whole.

Although XRP can be used by anyone — the ledger code is open-source — its exchange price is often tied to the fortunes of the Ripple company, which is seen as proving the value of the currency and its underlying blockchain.

Ripple and the SEC

The Ripple company has been locked in a legal battle with the United States Securities and Exchange Commission (SEC) since late 2020, with the latter claiming that XRP is an unregistered security and thus subject to their jurisdiction. According to the SEC's definition, an asset is a security if it is sold with the expectation of gaining a profit for the buyer. Instead, Ripple has defined XRP as a commodity and, thus, not subject to securities regulations.

Ripple decided to fight the SEC's claims and, as we have previously covered, has seen some success in recent court hearings. The finance world and the crypto community especially are following the case with interest, as the outcome will most likely have far-reaching implications for the entire cryptocurrency market. If Ripple wins the case, the argument for cryptocurrencies being securities will be discredited, and other crypto projects will have less to fear from the SEC. On the other hand, a victory for the SEC will set a precedent for cryptocurrencies being considered securities and regulated as such.

XRP accumulation and what it means

Analysts have pointed to the recent spike in the daily trade volume and user activity on the XRP network as mainly caused by the actions of whales, individuals who hold thousands or even tens of thousands of XRP in their wallets. Those who already own a lot of XRP are accumulating even more, showing confidence in the cryptocurrency, driving up prices and indicating a bullish market sentiment. For reference, XRP has previously enjoyed an all-time high of $3.40, showing a high potential for growth if the bullish trend continues.

Trade XRP and more with StormGain

There's no need to let the whales have all the fun and profit. XRP is an affordable cryptocurrency to invest in, even at current prices. If you're looking to buy or trade XRP, Bitcoin or any other altcoins, StormGain is the best place to start.

StormGain is an all-in-one crypto trading platform that offers 24/7 access to the most popular digital assets, including tokenised stocks and indices, as well as cryptocurrencies, via a fast, easy-to-use mobile app or website. Extra features such as built-in trading signals and educational resources make StormGain useful for beginners and experts alike.

It only takes a few seconds to register with StormGain (https://stormgain.com/easy-start) and start building wealth for the future. Sign up now and start trading today or open a demo account to see what StormGain can do for you!
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on April 18, 2023, 11:06:38 AM
850,000 ETH worth $1.8 billion in line to be unstaked

On 12 April, the Shanghai hardfork allowed validators to withdraw staked funds. Despite a delay to unstake funds by the largest staker (Lido), the total amount ready for withdrawal already exceeds 850,000 ETH, which is worth about $1.8 billion.

(https://steemitimages.com/p/3jpR3paJ37V8JxyWvtbhvcm5k3roJwHBR4WTALx7XaoRovsnMccwcF39Jh6KvVZjEFXV3s6vyWpYUCDqUMRpyKYA5YR5VtPYxjTo3hNo1qizDZsURnqwv6hpx8Tf4eYtya7DG?format=match&mode=fit&width=640)

For 2.5 years, validators could participate in the network by depositing ETH under a contract. They couldn't withdraw funds, however, including the income generated from staking. The high annual returns and the growing market of 2021 seemed extremely attractive. But as the number of participants grew, the rate of return declined and is now just over 4%.

(https://steemitimages.com/p/3jpR3paJ37V8JxyWvtbhvcm5k3roJwHBR4WTALx7XaoRovVydodJYcvf3vrgFAS4nu6rXLJ1p8imBwkLXK9RdzBDVEd4DBHTzBPaLdS7fZWA6qftRBXwnFm28h9qg6WkkYs1x?format=match&mode=fit&width=640)

The market decline last year resulted in almost half of investors still incurring unrecorded losses.

(https://steemitimages.com/p/3jpR3paJ37V8JxyWvtbhvcm5k3roJwHBR4WTALx7XaoRovsxMbq9YzFrgdtpeZGDwdWhvMfzf7qeuZdt7wnUQNmuPhvHqHG9dm1NfYY3uAZz9f7TXVCeAPmvViN6PiFaTbTmx?format=match&mode=fit&width=640)

Some investors may have become disappointed by the price movements, while others grew concerned by stricter regulation on PoS coins. The SEC and NYFDS proclaimed Ethereum to be a security in their legal claims against a range of companies. That's the reason why Kraken agreed to stop providing staking services. However, Coinbase intends to appeal the regulator's claims in court (although a settlement similar to Kraken's is still a viable option).

Kraken has a 46% share in the queue ready for withdrawal due to the forced winding down of staking. Lido, the market leader, isn't on the list. Its funds will only become unstaked in May.

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There is a total of 850,654 ETH from 26,328 validators in queue for unstaking. That means that around 5% of staking participants are exiting the programme. In the last 24 hours alone, the net outflow has exceeded 100,000 ETH (including the withdrawal of staking rewards).

(https://steemitimages.com/p/3jpR3paJ37V8JxyWvtbhvcm5k3roJwHBR4WTALx7XaoRovZS4zeCgGsQNYqwCHKwayM3L9bXXWpEuX2FBjYdUWXCXZrbKZAiFaZGcQC6e2W22b7qwUz5eL2JbjVxMCgvdC71x?format=match&mode=fit&width=640)

The exit of validators has a delayed negative nature. First, the outflow rate is technically limited by the formula: Churn Limit = Active Validators/65536. In other words, there's a limit of 1,800 withdrawals of 32 ETH or 75,600 ETH per day (not including staking rewards). Second, clients of Lido, which has a 31% share in staking, haven't even queued up yet. Third, the desire to withdraw ETH from staking doesn't imply an intention to sell them immediately.

(https://steemitimages.com/p/3jpR3paJ37V8JxyWvtbhvcm5k3roJwHBR4WTALx7XaoRovrofF3XhF6QvurxskyYq6KDh2EXbFoiJsHzMXHJiy8giYevUf3xk1D9M8BBTC6J4FqYTS1aCJd4oN8fDccfftFTt?format=match&mode=fit&width=640)

The hardfork event is overall a positive one, as it makes the network more investor-friendly and paves the way for further improvements. This was reflected in Ethereum's price growth over the past six days. The altcoin still lags behind Bitcoin in 2023, and the delayed negative nature of the unstaking may prevent further consolidation.


StormGain Analytical Group (https://stormgain.com/easy-start)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on April 19, 2023, 08:47:50 AM
Bitcoin: Reaching $45,000 by the late May

Network metrics are pacing the macroeconomic factors, predicting Bitcoin's continuous rise. And institutional investors, first concerned about tightening crypto regulations, are building up their presence in the market for the fourth week in a row.

The macroeconomic breeze is being driven by the Fed's monetary policy mess and predictions of an imminent recession. The rise in key interest rates has already caused three US banks to collapse, and the contraction in the US lending market has set a new record of $105 billion in the last two weeks of March. As the Fed promises to further step up its efforts to fight inflation, the likelihood of further shocks to the banking sector is greatly increased.

(https://steemitimages.com/p/5ShzsKnKF7vppGeV6VN3m3GSDcLoRruAhMmifZtFSDkYScaGTFYotepHgJAa7eWv93Tvvp7WvrC9a4zrfb6bxWF6hv34yM3a4kwR259xGc3dokLjiarQ88raJg6KuGkQddK9ayUj9hV6i2sA4FTYtvpe?format=match&mode=fit&width=640)

It resulted in an outflow of funds into both cash and cryptocurrency funds. For the fourth week in a row, institutional investors have increased their investments in favour of Bitcoin, pouring $103.8 million into cryptocurrency in the last week alone.

(https://steemitimages.com/p/5ShzsKnKF7vppGeV6VN3m3GSDcLoRruAhMmifZtFSDkYScrxwF27eUNBZ4kMom16P1YPj8zyRmWKJ6wM7uPiAKo7sitoamACYLd24ioRLavvqCgG9zmvFfNYKr3TK47s8c8ZqDtoPNedVvm54Bk3ggkN?format=match&mode=fit&width=640)

Interest is also fuelled by Bitcoin's good start, showing a 70% quarterly return, leading Goldman Sachs analysts to call it the best-performing financial asset in 2023.

(https://steemitimages.com/p/5ShzsKnKF7vppGeV6VN3m3GSDcLoRruAhMmifZtFSDkYSca44HTNSeSLxjh9yq4Tm9TnyCjYJUeWfo9d8nZfE5t7TFgdugSjPb6U13qbSCwd6nPq4Jif9JiUXAMpG2cPVTe7Bbef9cFa1ANGxnHsNDVx?format=match&mode=fit&width=640)

An increase in network activity is signalling support, indicating widespread demand for cryptocurrency. This is not just an oversold asset's correction but a new sustainable trend.

(https://steemitimages.com/p/5ShzsKnKF7vppGeV6VN3m3GSDcLoRruAhMmifZtFSDkYScxiNUYmwo5ejTiJvNFZH4cUmGFa8YqNKhaqQcCugK9sU7u31WYAiY7UxDwZiY4MbqXKuxSLhePvkQZHC4AanNB1yAgHMoS3M2CNNtBfotKQ?format=match&mode=fit&width=640)

When it comes to price targets, the analytical agency K33 predicts another 50% increase over the next 30 days.

(https://steemitimages.com/p/5ShzsKnKF7vppGeV6VN3m3GSDcLoRruAhMmifZtFSDkYScaG3h34M4Q8CqWpm5JmFsvab5cyxearDYZyUhqZ1uj3PfRyqBuHdZZzkg6aqUajM3VoqUcdj2WwZtpQJN2qHumdYGcH6yNR9zeYP5a8Y5Xc?format=match&mode=fit&width=640)

The analysis is based on the striking similarity between the 2018 and 2022 cycles. In both cases, it took around 370 days to drop from the historical high and another 140 days to recover to 60%. Further extrapolation suggests that Bitcoin will trade at $45,000 in late May.


StormGain Analytical Group (https://stormgain.com/easy-start)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on April 20, 2023, 10:13:45 AM
Additional metrics that predict Bitcoin's growth

Yesterday (https://stormgain.com/blog/bitcoin-forty-five-thousand-by-the-end-of-may), we reviewed the increase in network activity and the boost in investment activity from institutional investors as reasons for Bitcoin's upward trend. But there's more.

(https://steemitimages.com/p/2N61tyyncFaFVtpM8rCsJzDgecVMtkz4jpzBsszXjhqan9uuP77przu5RvPzP177kgQDpyS6CTztyxNXBTfjfCsm1m9AjABJLpPM6f9XyuHvHehoFV6xpm4VJ9dHDF6izdWDwLPqu5hg?format=match&mode=fit&width=640)

Correlation to gold

In times of financial crisis, gold acts as a safe-haven asset. As a limited resource, it's countered by the rampant policies of central banks that try to cover excessive government spending by printing money.

For example, the Fed more than doubled its balance sheet during the 2008 financial crisis to $2.2 trillion by buying debt securities to bail out the economy. During the economy's subsequent growth cycle, the regulator was supposed to unload it but didn't. And in 2020-2022, the Fed inflated its balance sheet again to $8.9 trillion.

(https://steemitimages.com/p/2N61tyyncFaFVtpM8rCsJzDgecVMtkz4jpzBsszXjhqan9qC5YivEUwp7HTBKkjVEAcGLqHPNADNYfS7i7BCYadYtzwvpMUBNVwwj2KtLKULdwToD4CZgpEoKM2PYffNd8YsdrzHRX3U?format=match&mode=fit&width=640)

Rising levels of government debt and issues in the banking system have led to a decline in the dollar index, while gold is preparing for an all-time high. In this context, the high correlation between Bitcoin (which many analysts also label as a store of value) and gold becomes an additional argument in favour of the cryptocurrency's rise. Glassnode estimates that the correlation coefficient now exceeds 0.85.

(https://steemitimages.com/p/2N61tyyncFaFVtpM8rCsJzDgecVMtkz4jpzBsszXjhqan9o2E8yt4j6Jyu7A8kvwbSkmigTHzNCrp3d5GhmVJjC9NAaEdfGB1baZo3AtMduxLqeN4y6zL2EmgxJDqSXw2tjugLrkV1Bt?format=match&mode=fit&width=640)

Reserves of long-term holders at highs

Glassnode refers to long-term holders (LTH) as those with coins that haven't moved for over 155 days. Despite the collapse of FTX and tighter crypto regulations in some regions, LTH holdings rose to 14.2 million BTC. This is near its all-time high and indicates a strong expectation for the cryptocurrency's prospects.

(https://steemitimages.com/p/2N61tyyncFaFVtpM8rCsJzDgecVMtkz4jpzBsszXjhqan9pkpfYvKHqnQkPM5FZg152QRK7wcnE2D1YefPeudc2brx23J99hLQqJrWqfa6SjiVJXHAR7Domw39M8YXJGbocJ8fvUccdC?format=match&mode=fit&width=640)

Rise in miners' profits

As network activity grows, so do miners' profits. While Ordinals was behind the rise in activity at the beginning of the year, the number of regular transactions on the Bitcoin network has now surpassed 270,000 per day. All of this has allowed miners to increase their profits, indicating a growing widespread demand for the cryptocurrency.

(https://steemitimages.com/p/2N61tyyncFaFVtpM8rCsJzDgecVMtkz4jpzBsszXjhqan9mJ9A2hCqJLCYgkdtW99YWgJrtGwyUb3h7akaoQ4wtEZ3Uh4L2Rev8RBSLuQdS6JxoTyaXzEL2rBoMcwYv6PmN96a8TgjMY?format=match&mode=fit&width=640)

Macroeconomic trends and the cryptocurrency's consolidation of its store of value status favour a further price rise for Bitcoin, with network metrics pointing to the start of a new bullish cycle.


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Post by: stormgain on April 21, 2023, 12:03:23 PM
Gary Gensler's departure sparks Ethereum growth

In 2023, following intensified pressure on altcoins from the SEC, Bitcoin's market share rose from 38% to 45%. The regulator only recognises Bitcoin as a "commodity", while it classfied other digital coins as "securities".

(https://steemitimages.com/p/9vWp6aU4y8kwSZ9Gw15LFL3aMdhmgmBBFMpDJregpdP328fswWXF2aNgFCu43W2YFKKQj57SpivPCHVqZuUpTxv5d2FCodwFWegxbbZ84VHw4XbBTnmG5HzAsEehYQA35eWGTBdaNuoBD6rKg?format=match&mode=fit&width=640)

Since institutions are required to secure proper SEC licensing to trade securities, a pre-action letter (Wells notice) was served to Kraken, Coinbase, Paxos, and a raft of other organisations. Under this pressure, Kraken stopped providing staking services, while Paxos ceased minting BUSD for Binance. Coinbase is prepared to defend the interests of its clients in court, but has halted staking for Algorand, one of six coin services offered (more in this article (https://stormgain.com/blog/sec-hits-coinbase-and-justin-sun).

The regulator's actions have been criticised more for the lack of specific detail than for unnecessary harshness. Consequently, Coinbase CEO Brian Armstrong noted that they had held more than 30 meetings with SEC officials, but are yet to hear concrete criteria for classifying one cryptocurrency or another as a "security".

The lack of transparency has resulted in several crypto companies already having ceased operations in the US, with the country's largest crypto exchange, Coinbase, yesterday reporting that it had secured an offshore registration to expand its business outside the jurisdiction of the US authorities.

(https://steemitimages.com/p/9vWp6aU4y8kwSZ9Gw15LFL3aMdhmgmBBFMpDJregpdP328LicoWucrg6tjgmfmZFqg2EffGZ9FY3TrazqvbeJ1NTtz9MrCyc2qN3jBwersKYjx9pH8FnU8KbknaSuJu4bGYDw1qDSFYbxK6Le?format=match&mode=fit&width=640)

This exodus of companies has resulted in severe capital outflows from the US, which is a particularly worrying event in light of the current pre-crisis conditions. For this reason, SEC chairman Gary Gensler was called before Congres's Financial Services Committee.

According to the record, congressmen interrupted Gensler's speech three times asking the direct question: "Is Ethereum a security?" To which Gensler each time answered ambiguously, demonstrating the regulator's ill-defined position.

The lack of an unequivocal approach to crypto regulation and the unfounded pressing of cryptocurrencies led Congressman Warren Davidson to petition Congress to consider the removal of Gensler for abuse of power.

(https://steemitimages.com/p/9vWp6aU4y8kwSZ9Gw15LFL3aMdhmgmBBFMpDJregpdP328rLv3ASp7rjsqu4JqfkXQ5h1yYYAPHy3v8cRWzv5FBGnLPiRJH6Y846tzBZvEp9zyiZyhKebTFber2S1fC41NkdMqXdMkQBs9QKx?format=match&mode=fit&width=640)

With Gensler's departure, Etheruem will have the chance to make gains against Bitcoin by the end of 2023 as a change of SEC leadership will pave the way for a more equivocal approach in determining the status of altcoins.


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Post by: stormgain on April 24, 2023, 05:46:30 PM
Cost of mining once again overtakes Bitcoin price

Bitcoin's growth in 2023 encouraged miners to increase their output significantly. During this period, the average computational capacity jumped by 41% to reach 344 EH/s.

(https://steemitimages.com/p/EEEoA8oLaAxsTkPYAARp78o5cJA1o6Chv9x98TzCFT6v5GmtAU2XVEM1prPnMLTPMNvnCnTdXJoJ5bAUsB2wmsSphDgL8Xwq2MSFJF8MkQgZd36AWHEZJ6Ms2tX3CUY1Jwh1KEbtqWGnuoBNUrYPQ?format=match&mode=fit&width=640)

The capacity raising by miners cancelled out the positive effects of price growth. The issue is that the network automatically adjusts difficulty so that an average block creation time would reach 10 minutes. The additional computational capacities were compensated for by increased difficulty. As such, the average cost of mining one Bitcoin once again moved ahead of the coin's actual price. According to data from MacroMicro, the average mining cost now stands at $32,000.

(https://steemitimages.com/p/EEEoA8oLaAxsTkPYAARp78o5cJA1o6Chv9x98TzCFT6v5GV6cCyXGgsomWYsLjZuJAL3JwJJYv47bjGcp7zjNKiu3ByLVLEqE8kM5npsbdRCeXN3mrVzdaFP9Sc2TduDL1yVq5MVMjEHoroBc41xA?format=match&mode=fit&width=640)

The yield from one terahash of capacity is around the same level as in October last year when Bitcoin was trading at around $20,000.

(https://steemitimages.com/p/EEEoA8oLaAxsTkPYAARp78o5cJA1o6Chv9x98TzCFT6v5G1wi2dp4Fnc2JidWCQUYPxD1fXU3cJG4Y8GNh6WaZjWea387Hma9taSgPqEBPrD7nRsTFqEhodZGa5CS6yZWooozg579xpS93p8rUErJ?format=match&mode=fit&width=640)

The fierce competition is forcing miners to sell the coins they have mined. It seems that virtually every miner has forgotten the "mine and hold" strategy of 2021. Currently, their combined reserves are estimated at around 1.8 million BTC, which is around the same level as they were in November of 2021.

(https://steemitimages.com/p/EEEoA8oLaAxsTkPYAARp78o5cJA1o6Chv9x98TzCFT6v5Gswm5d1NosVHX3gCEG2wPP5DH7r5dRDX7yZ6VCAMZ4Fiyef5J2BM6K48WSFcx8C2PYvC8ZtPMFTBZ1MzjzZQMBCXYdbpwLnkx95qmBcr?format=match&mode=fit&width=640)

It's highly unlikely that miners will return to accumulation, and the competition in the market will only rise. We have written previously about TeraWulf, which managed to secure (possibly) the lowest tariff in the industry, $0.02 per kWh, on account of its direct connection to nuclear power. These kinds of moves will press other miners with a less effective business model. For example, No. 1 by computational capacity Core Scientific was unable to handle the competition and was forced to declare Chapter 11 bankruptcy last year.

(https://steemitimages.com/p/EEEoA8oLaAxsTkPYAARp78o5cJA1o6Chv9x98TzCFT6v5Gbi67DLnVJLdfRaLLNgHjoCZxuLEz8hpbQqvAKmDwsmSZPfhXTXcwjf9B1AbFM5zsDy9RS1ux6H5gsXVE3sN5zyqWUFAURobpTZseP2n?format=match&mode=fit&width=640)

As for Bitcoin, rising capacities are good news for the cryptocurrency. First of all, this increases the network's security. Second, it suggests coming inflows of new investment.


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Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on April 26, 2023, 08:57:11 AM
The share of the US dollar in global reserves drops from 73% to 47%

In 2022, the dollar's share in global reserves contracted ten times faster than it had over the previous 20 years. Analysts at Eurizon believe the reason for this was the application of mass sanctions. They opined that, "Without the need for us to take sides in this debate on Ukraine, it seems reasonable to speculate that the main driver of the collapse in USD's reserve status in 2022 may have reflected a panicked reaction to property rights being jeopardised. What we witnessed in 2022 was sort of a 'defund-the-global-police' moment."

As a result, the dollar's share in global reserves fell from 73% in 2001 to 55% in 2021 and 47% in 2022.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSjqENjye21Tw8P5BtBLmWaNvPAivdydB11G6YwTTj4ZSarVvtyy1XJyhw1yN5vWdsCV74?format=match&mode=fit&width=640)

Meanwhile, China's yuan rose to 3% in global reserves, while international blocks, such as BRICS and ASEAN, are holding negotiations on lowering their use of the dollar in international settlements.

The shift away from the dollar is a long process, but the trend is now intensifying. As economist Peter Schiff said in an interview with Commodity Culture, "I think the current financial crisis which just started is going to ultimately deliver the death blow" to the US dollar's global reserve currency status.

One reason for the new crisis is the United States' move to tighten its monetary policy, which is having a destabilising effect around the world. China's Ministry of Foreign Affairs spokesman, Wang Wenbin, criticised the US Federal Reserve last week, saying:

The massive interest rate hikes by the US Federal Reserve since last year have significantly increased global financing costs and exacerbated disorderly international capital flows. This has not only led to the bankruptcy or takeover of some banks in the US and Europe but also made things more difficult for emerging markets and developing countries... We urge the US and other developed countries to prudently assess the spillover effects of their economic and financial policies, stabilise market expectations in a timely manner and avoid creating adverse shocks to global financial stability.

When it comes to moving away from the dollar, developing countries have several alternatives. El Salvador, for example, chose Bitcoin to be its legal tender in 2021. That allowed citizens who emigrated for work to send money to relatives with minimum commission. In 2019, the volume of these money transfers accounted for one-fifth of the country's GDP, or $6 billion. Of that, nearly 10% went to international payment systems in the form of fees and commission.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSixujPm89xNnASEcL9oPhApWVeAcW61CvxBuSmiSNie1cjDPm2UJEvryg2rEFaw47hyEN?format=match&mode=fit&width=640)

The Reserve Bank of Zimbabwe plans to launch a gold-pegged digital token to reduce inflationary pressures and the national currency's falling exchange rate. Previously, the country experimented with the US dollar as a unit of account, but the disadvantages outweighed the advantages.

As developing countries' efforts to move away from the US dollar gain momentum, Peter Schiff may be right about the current crisis putting the nail in the coffin of the US dollar's hegemony.


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Post by: stormgain on April 27, 2023, 09:34:16 AM
Interest in Ethereum staking beats the outflow of validators

The limit of validators' outflow and the month-long delay of Lido unstaking have positively affected the net inflow statistics. Concerns about the Shanghai hardfork didn't prove to be true, despite losing the price momentum.

(https://steemitimages.com/p/JvFFVmatwWHRfvmtd53nmEJ94xpKydwmbSC5H5svBACH7z2u654sYjWKEaNueF5otPyxHFY4kbjW8vw5aomamkFVuZSxUnAqgRr5SggqHdYDiFGA7pdiRKTmg6EnCvjXAbr2JKRN6J?format=match&mode=fit&width=640)

The main concerns were that the majority of validators would like to quit, withdraw funds and exchange ETH for other coins. First of all, this was to affect US investors, where the SEC is trying to push for security status for Ethereum. Attacks by regulators led to Paxos cancelling BUSD minting and the Kraken cryptocurrency exchange's recent rescission of staking services.

In the past two weeks, Kraken has withdrawn 457,000 ETH, leading the outflows.

(https://steemitimages.com/p/JvFFVmatwWHRfvmtd53nmEJ94xpKydwmbSC5H5svBACH7ydJamELNsPg6TUG2eCZmX2JYv3cz42MJdFzTnJLYhehWdfb6LWPLk9JtuvH98CAUSP5C2CuKPuEcBZSb2XQLZYoLREHWn?format=match&mode=fit&width=640)

The withdrawal was more than compensated by the arrival of new participants. Note that rewards should be excluded from validator outflow statistics, as their withdrawal has no effect on the volume of funds participating in the staking.

And so, the net inflow of funds after the hardfork has amounted to 387,000 ETH. The withdrawal implemented with the Shanghai update attracted more cautious investors who weren't ready to stake funds for an indefinite period of time. Part of the inflow was also provided by old participants, who used the reward to increase their positions in the staking.

(https://steemitimages.com/p/JvFFVmatwWHRfvmtd53nmEJ94xpKydwmbSC5H5svBACH7xbRsV3vEJJQmpBmW3SKWnYVsgwDGDeGhMYWBRMh8mDHfEx7CvVboEKErTTBK7sxBDKRhtZtBex7RQrT19TFAAWyyuFEtN?format=match&mode=fit&width=640)

It can be assumed that all else being equal, the trend will continue, and the inflow of validators will compensate for the exit of older participants. Risk factors include stricter crypto regulation and SEC Chairman Gary Gensler's attitude towards Ethereum.

First, Coinbase, the largest cryptocurrency exchange in the US, has already received a Wells Notice of illegal financial securities transactions. Coinbase isn't yet ready to follow Kraken's footsteps and intends to dispute the claims in court. But the risk of halting staking is quite high, and the crypto exchange's share of the total validator pool now stands at 12% with 2.3 million ETH.

Second, the staking for the largest validator aggregator Lido Finance (30.5%), will end in May. This will create additional pressure on the withdrawal queue and could increase ETH inflows to cryptocurrencies.

Existing risks are the cooling factor preventing ETH from rising against BTC, despite the importance of the update. And while the pressure from exiting participants will soon diminish, the complex relationship with regulators is more unpredictable.


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Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on April 28, 2023, 03:33:42 PM
Here's why new shocks to US banking are causing Bitcoin to skyrocket

Bitcoin jumped 7% to $30,000 yesterday due to shocks from the drowning First Republic Bank's report. Despite a $30 billion infusion by a consortium of banks in Q1, a move backed by the Fed and the Treasury Department, the institution's customers decided to exit anyways.

The Fed's tightening of its monetary policy continues to hit the banking sector, making assets on balance sheets cheaper and reducing demand for banking services. After a series of bank collapses by cryptocurrency-friendly banks, First Republic (hereafter, FRC), one of the top 30 US banks by capitalisation, was next. The main catalysts of the liquidity problems were the high proportion of uninsured deposits (two-thirds, according to the FDIC) and the excess of loans and investments over deposits (111%, according to S&P Global).

To prevent bankruptcy, a consortium of banks transferred $30 billion of uninsured deposits to FRC in Q1. Another $70 billion in loans were provided by JPMorgan. In the meantime, US Treasury Secretary Janet Yellen reassured the public of the banking sector's resilience.

The measures taken weren't enough to improve the bank's credibility with the public. According to the Q1 report, customers emptied accounts worth $100 billion in March. This frightened shareholders, as they would lose their investment entirely if the bank goes under FDIC management. In the past two days, shares have fallen by 47%; they've collapsed by 95% YTD.

(https://steemitimages.com/p/7258xSVeJbKkzXhyseBP4PYz11eBDT8sW2oR1a4vfVFS6HbPoKMTpaomocUeKMuALAXwTQSVS6K9Y5teT7zLYET515Q9bHM9uZf72tNrZmN9hnGun1fr6sEE3X9v3oozSfVXemvhbsdKL?format=match&mode=fit&width=640)

The likelihood of FRC's bankruptcy is extremely high. It'll be the fourth bank to collapse in 2023, but hardly the last as the Fed promises further monetary policy tightening. CME's FedWatch tool estimates a 72% probability that the key rate will be raised by another 0.25% next week.

(https://steemitimages.com/p/7258xSVeJbKkzXhyseBP4PYz11eBDT8sW2oR1a4vfVFS6JPHtDufe9WS74RSFoSSV6qJWabogB8iGhE4EhLzdVjpg6UpP6GVm8qsLtJ1ZtiZmnzgxKSgvHd9YVd7sDs8UquoUZLoSyFf4?format=match&mode=fit&width=640)

Bank failures make a rate hike irrelevant as the provision of total insurance for the previous three episodes and the launch of an emergency lending programme go against monetary tightening and the fight against inflation. The Fed has already provided more liquidity to banks than in the 2008 crisis.

(https://steemitimages.com/p/7258xSVeJbKkzXhyseBP4PYz11eBDT8sW2oR1a4vfVFS6HTXca7i7kX2a5SMbcofTLeTaPaKCDPdvdyk7cafvU3JgULM998oZtoV1A66PFBVFooEtCXaUfa7TVWxYv3Z72zxPGJZWtu3U?format=match&mode=fit&width=640)

A worsening banking environment could force the regulator to pause its rate hike and turn 180 degrees. These actions would lead to a rise in high-risk assets such as Bitcoin.

(https://steemitimages.com/p/7258xSVeJbKkzXhyseBP4PYz11eBDT8sW2oR1a4vfVFS6JLg12KUsQJM1MMxPTD5EnWWAUuetPJtxPCyV6E6hwNTcoq75oTepuKs3X7d8PpJnUApVL5EWjPzVZrUbyJKiG6FxMdDbDDYr?format=match&mode=fit&width=640)

The bankruptcy of banks and the Fed's dilemma benefits Bitcoin's advantages, such as decentralisation, high independence from the traditional financial sphere and limited issuance. While the Fed conducts hidden QE and builds up its balance sheet, Bitcoin's volume is reduced every four years, and the final supply is limited to 21 million coins.

In addition, deposit insurance in the US is limited to $250,000, and the Treasury is unable to provide full coverage, as this would lead to a poor investment policy for financial institutions in the future. Bitcoin's ability to act as a highly liquid store of value can attract capital in the case of further worsening in the banking sector.


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Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on May 02, 2023, 03:23:37 PM
The interest of long-term holders will determine the move beyond $30,000

Sceptical market participants view the $30,000 level as serious resistance for Bitcoin. For the same reason, some users with wallets under 1,000 BTC rushed to lock in the gains they made in Q1.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSiD1g4BC49aH8UDMpaBapcogk3H7KWxpMTAYtCzuxDx6JRGa1NYumQ63igR133hf7WVyY?format=match&mode=fit&width=640)

The increased volatility in recent days led to the liquidation of buyers of perpetual futures contracts on 26 April for a record $80 million over the past month. For the bears, this served as a strong argument for the significance of the marked price level.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSiMvXnw83PDJ2DjtkjYoSQGBB2zmAm6vALZbQ5NPqCFWAfuUaTaUiGaSjbZkZ4RjKdmSE?format=match&mode=fit&width=640)

Futures are mainly used for margin trading, which is of interest to speculators. Long-term investors buy cryptocurrencies on the spot market and then move them to cold wallets.

The margin continues to shrink after the FTX collapse. Consequently, long-term investors are more likely to be behind the growth momentum of 2023.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSg7k8xztEQACbYhyFMNquk6JWfgftH2JHwABxdxicE72NHxCQYKSCjJXx6pg1vvc2uqSn?format=match&mode=fit&width=640)

This is also confirmed by the low level of crypto exchanges' total balance sheet, which amounts to 2.19 million BTC at the moment. Despite Bitcoin's 80% price growth in 2023, holders are in no hurry to move the cryptocurrency to exchanges.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYScfAHchR1Prg5zURNrayMCGih22hykSk2z2QcRCuizuPyoDXSUAxiK9WtuQJLLF7He5i6?format=match&mode=fit&width=640)

This indicates a desire to keep the majority of funds in cold wallets and an expectation of further price rises.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSrw1Ax84gL7HAMszUp2gFVMWpciRYrEjfE9iN9egNKKgSSXUDCgqZJxUhWmpcWf56sYVL?format=match&mode=fit&width=640)

Going back to the first chart, we see that the reversal in whale behaviour is worth noting. After the coin sell-off during the rise to $30,000, they returned to hoarding. In most cases, whales anticipate (or cause, depending on the market conditions) further movement of cryptocurrency, as we've covered more than once.

For example, MicroStrategy, the largest public BTC holder, returned to buying after a pause, adding 7,500 BTC to its coffers in the spring. The company's reserves are now valued at 140,000 BTC, worth a total of $4.1 billion. Interest in the cryptocurrency is growing amid shocks in the US banking sector and the Fed's possible turn to dovish monetary policy. The regulator's upcoming meeting will take place next week.


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Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on May 03, 2023, 11:27:17 AM
Support level for Bitcoin short-term holders is $24,400

On the heels of Bitcoin's 80% increase in 2023, crypto exchanges have experienced an influx of coins brought on by some holders wanting to take profits. On certain days, it reached a rate of 30,000 BTC/month. Peak indicators either coincided with a correction or preceded one.

(https://steemitimages.com/p/3jpR3paJ37V8JxyWvtbhvcm5k3roJwHBR4WTALx7XaoRovUbCNRdgAxihyiXq4361gUPc5F3rMed4TyTVbMD3Loe9E1FZ7GvJeJqFSPJYaEEdRLsi5NVMx2AcbtHXop4kE7dG?format=match&mode=fit&width=640)

That rate has now dropped to 22,300 BTC/month, although pressure remains on the pioneer cryptocurrency's price. Buyers are primarily short-term holders (STH) who are rushing to lock in profits. They recently made up more than 60% of all realised profit.

(https://steemitimages.com/p/3jpR3paJ37V8JxyWvtbhvcm5k3roJwHBR4WTALx7XaoRovqfyXg56EPRhBhLpkLAqHX7dXvZcTbDDXgwAuUT5c9yuH7DJyraySfMEWBvSi5wQQqRNJ41JD2cUJEUHji2cBKw4?format=match&mode=fit&width=640)

The analytical agency Glassnode used the MVRV indicator (an estimate of the average unrealised profit) to identify the point at which STH enthusiasm dries up. Their analysis found $24,400 to be the level at which the cohort of STHs will reach a breakeven point if the correction continues.

(https://steemitimages.com/p/3jpR3paJ37V8JxyWvtbhvcm5k3roJwHBR4WTALx7XaoRovVkyavmfBFzq6VwyDtwsNcxyAU9RCxYwHu3rtLp2XZPuyrj6yC8aXDgSZecmiyUGuAqrU99RC1p761ZTh1s5gy58?format=match&mode=fit&width=640)

STHs' desire to lock in their profits is a leading factor for why Bitcoin's price rise is currently being restrained. We previously noted that, after selling part of their reserves on the price rise, the whales have begun to accumulate again.

(https://steemitimages.com/p/3jpR3paJ37V8JxyWvtbhvcm5k3roJwHBR4WTALx7XaoRovaKrmcUbSpToT3VMrvkMRRmYqZsFXyrfXRCdrrgWcG613VFPCD7C23t2Si7EaesE6eaXQ2xcmz9pNKWmHH8BKN8E?format=match&mode=fit&width=640)

It's also worth noting that with the bankruptcy of the fourth-largest bank in the United States in 2023 (JPMorgan took over First Republic Bank on 1 May), the number of daily transactions on the Bitcoin network set a new all-time high after it surpassed 426,000. The previous high had been reached during the 2017 rally when there were 379,000 transactions per day.

It remains to be seen what the Fed will choose to do at its meeting today. Some experts suggest that we'll see the last interest rate hike this year, while others believe that the central bank's monetary policy tightening is over. If the Fed leaves its key interest rate unchanged, Bitcoin's price will most likely begin to rise again.


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Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on May 04, 2023, 11:09:23 AM
The number of ETH whales declined after the Shanghai hardfork

The Shanghai hardfork, which allowed validators to withdraw funds, continues to have a mixed impact. On the one hand, the long-awaited upgrade is attractive to more cautious investors. On the other hand, a number of participants continue to leave the system because of shifting priorities.

The latest updates haven't affected network speeds, which don't exceed 20 transactions per second. Validator outflows have already resulted in a three-fold fee increase since staking ended on 12 April. The higher fees are quite a negative issue as developers and users become more interested in using faster networks.

(https://steemitimages.com/p/7258xSVeJbKkzXhyseBP4PYz11eBDT8sW2oR1a4vfVFS6HrVqanPbQnz9jVACnozsTgvVvur1SC5P6VdbSw1L5a8gQ4kPRava98ByZ8o6eJbAbsWknzmY9fWZ94WWFMLTKH1JkpaZx5ZY?format=match&mode=fit&width=640)

There are currently 15,000 validators queued to withdraw around $837 million or 450,000 ETH.   The major part of the outflow is caused by Kraken's refusal to provide staking services due to the SEC's action and pre-trial settlement.

(https://steemitimages.com/p/7258xSVeJbKkzXhyseBP4PYz11eBDT8sW2oR1a4vfVFS6HdquQ1YDAsnFVJYT9neUqmSA4BhnQri6xp8xxN78BWyi8jqVUmBWhMUhm76AikBSx81WrJUyjVf5j2aTJe8B15emYbQBrtMC?format=match&mode=fit&width=640)

That said, there's a risk that Coinbase, which accounts for 12% of the total validator pool with 2.4 million ETH, leaves staking for the same reasons. And the largest player, Lido Finance, hasn't yet unstaked its 6 million ETH.

The negativity comes from US regulators seeking to label Ethereum a security. Some crypto exchanges, including Kraken, have already been fined for working with the cryptocurrency without a securities license. Coinbase has announced its intention to sue the SEC and, as a preventive measure, has launched Coinbase International Exchange registered in Bermuda.

(https://steemitimages.com/p/7258xSVeJbKkzXhyseBP4PYz11eBDT8sW2oR1a4vfVFS6HdxkyBH7yD6NsyMgiit88qGJAMMjKNbsWUa1aDc6YzVwKcD9GgzrhaWkz5MTmU4KsJYdhrttejMJahQA2jN6bdBA2xwR2wcz?format=match&mode=fit&width=640)

These events overshadow the positivity of the Shanghai hardfork and reduce the coin's investment appeal. Since the hardfork, whales, whose presence usually correlates with future price cycles, have reduced their presence by 200,000 ETH.

(https://steemitimages.com/p/7258xSVeJbKkzXhyseBP4PYz11eBDT8sW2oR1a4vfVFS6HfppbM3zWRBUYZb3PM4KwMyfG4BTMu9TGSLQdsT3pvyAXcYtQrXXmSLvNV9WxaBTyauCb6BNFGBcdBWLLXhAVTsTddccEswC?format=match&mode=fit&width=640)

The continuation of the trend, the cancellation of Coinbase's stacking and especially the recognition of Ethereum as a security will result in the altcoin remaining in the shadows in the new bull cycle. It has already fallen 11% in price against Bitcoin since the start of the year.


StormGain Analytical Group (https://stormgain.com/easy-start)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on May 05, 2023, 12:11:29 PM
Crypto bombs worth 4.3 million BTC

The upcoming changes in the form of the de-dollarisation of the global economy and a potential default on US debt offer tempting prospects for Bitcoin, which stands as an alternative to the traditional financial system. But the cryptocurrency has its own constraints, which could be triggered this year.

205,500 BTC

The US government has accumulated 205,500 BTC worth $6 billion on its balance sheet following the uncovering of hacking attacks and the confiscation of stolen funds. For a long while, the US government held those funds. However, in March, it transferred 10,000 BTC to a Coinbase address to later be sold.

(https://steemitimages.com/p/54TLbcUcnRm3sWQK3HKkuAMedF1JSX7yKgEqYjnyTKPwrcTN5WpRqmSd9udCrZcmDhdirBgvtszuGobQzrbnBct7LEhoti7SeL6SEjktmsGZLPHmqD3RxZGokqf2KeA7szJAGvgL6?format=match&mode=fit&width=640)

As money into the government's coffers goes out faster than it comes in, the US could face a technical default as early as 1 June, according to Treasury Secretary Janet Yellen. The shortage of funds could prompt the government to sell off cryptocurrency reserves as early as this month.

137,900 BTC

The collapse of the Mt.Gox cryptocurrency exchange in 2014 significantly impacted crypto markets. Between 2011 and 2013, hackers managed to steal around 650,000 BTC. Another 140,000 BTC that had been considered lost were recovered, and the assets were transferred to cold wallets.

(https://steemitimages.com/p/54TLbcUcnRm3sWQK3HKkuAMedF1JSX7yKgEqYjnyTKPwrcJdkBL3Gz7on99EL3UBT7GCFQ4mMQ6Mr7TjKJntkkoUAtHMJ2FEuQnWp18K8JDp4uKfKtm5Fi2czhzAr2W9dSQAQ7z62?format=match&mode=fit&width=640)

Following bankruptcy proceedings and the receipt of claims from affected customers, the Mt.Gox trustee said payments would begin in 2023. Users will only be able to recover 0.23 BTC for each BTC lost, but the price difference more than compensates for the loss. At the date of the bankruptcy filing in 2014, BTC was trading at $500, which is now worth 58 times that amount.

(https://steemitimages.com/p/54TLbcUcnRm3sWQK3HKkuAMedF1JSX7yKgEqYjnyTKPwrcWhDt3ketATWyrAtw8ppEcCBkeC9ARjRYLA3Zst7vc98pTPUjfA6HVKy3oXhHiq35ULHctrVrHSeRZjgSsoNAbB9w7dx?format=match&mode=fit&width=640)

Once they have an impressive profit in hand, most users will likely rush to cash out. 137,900 BTC could potentially add $4 billion in pressure from sellers.

4 million BTC

Speaking of crypto bombs, one can't help but mention the 4 million BTC considered permanently lost. Last week, 1,100 BTC that had been inactive for more than 10 years were reported to have moved.

(https://steemitimages.com/p/54TLbcUcnRm3sWQK3HKkuAMedF1JSX7yKgEqYjnyTKPwrcV5L4M8oJ7cdFHgUUghcKT4E6WZWFscu7sSmwfw2gU8gL1C4Gq7C36Sp4bHc3pUYK9guBG4nfHPUMynob3sgqYUznv8e?format=match&mode=fit&width=640)

So not all coins older than 10 years are considered hopelessly gone. The total amount of "lost" BTC is estimated to be worth $113 billion.


StormGain Analytical Group (https://stormgain.com/easy-start)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on May 10, 2023, 01:52:34 PM
Interest surges: Bitcoin network fee hits a one-year high

Four US banks have gone bankrupt, and a dozen more are struggling. For example, PacWest shares collapsed by 50% in the past day, and Western Alliance saw a 40% drop. According to polls by Gallup, the world's largest polling agency, half of US citizens are worried about the safety of their bank accounts.

As the Fed continues to tighten monetary policy, which reduces the value of a number of assets on banks' balance sheets and the demand for banking services, the likelihood of further shocks is high.

(https://steemitimages.com/p/JvFFVmatwWHRfvmtd53nmEJ94xpKydwmbSC5H5svBACH814L9p4MMVwbmSAiT42D8wt5cG6ePi7JCbgMQiF66AfG7rjN76MgZW8cZ6A4KS3jMx2hPh3D5FxPyPuJxPJGbqbcTeW3B4?format=match&mode=fit&width=640)
US Federal Reserve key interest rate, %.

One way to insure against a depreciating dollar and the risk of a total loss of funds beyond the FDIC's insured amount ($250,000) is to buy Bitcoin. The cryptocurrency's decentralised nature protects against an attack on the asset.

The network's average speed doesn't exceed seven transactions per second, so those wishing to make a transfer are increasing the amount of fees paid to complete their transaction as soon as possible. Due to a surge in interest, the average fee on the Bitcoin network has increased 2.5 times in the last week to a one-year high of $7.20. The share of commissions in miners' remuneration jumped from 5% to 16%.

(https://steemitimages.com/p/JvFFVmatwWHRfvmtd53nmEJ94xpKydwmbSC5H5svBACH814PT8nncpGx9yqTTw2hryqkwcXqKvzUDFfRgyUH77yvSy32yrtBYYpkKVg57HAp6kx2KjKMb3H2Ln5oAW8ZVz6DT5YPR8?format=match&mode=fit&width=640)

Some analysts consider Bitcoin to be a "store of value" similar to gold. For the same reason, there has been a surge of interest following the bank collapses in the United States, with Bitcoin's share of other crypto assets rising from 40% to 46% in 2023.

(https://steemitimages.com/p/JvFFVmatwWHRfvmtd53nmEJ94xpKydwmbSC5H5svBACH813rbJQ8ZJ93AjpBtVDVB3L9gpM5YCyjsXExst7QMyRFR5LJ3C5KAKzt1Meb6BjgnjkqDnC1ZuEiF7batSJyxT1Bf4qRmY?format=match&mode=fit&width=640)

Bank crises aren't all the woes facing the US economy this year. As early as 1 June, the government could announce a technical default on debt obligations, as money is being spent faster than it's coming in. Congress needs to increase the debt limit, which currently sits at $31.4 trillion.

(https://steemitimages.com/p/JvFFVmatwWHRfvmtd53nmEJ94xpKydwmbSC5H5svBACH7ytBcSf9iYE5rDVNYKJ4f1awvSLU6VQA57JhchAQgxCgmFziypA7mFGPUrMuPZuucguNebvEdCdvfygbprSfrhApsZE98i?format=match&mode=fit&width=640)

Geoff Kendrick, an analyst at Standard Chartered Bank, believes that the probability of a default is low, although if it occurs, he predicts that Bitcoin's price could rise to $50,000.

(https://steemitimages.com/p/JvFFVmatwWHRfvmtd53nmEJ94xpKydwmbSC5H5svBACH7z9T5S6TyHUZmQAnsPHV2Py86JbHiEr6NWiG3ysoYsEi99DFt92WFhBgrnJYvcBXmjdHYN1VBa7af5VNfxkiD5nNwPcmbk?format=match&mode=fit&width=640)

In addition to demand for Bitcoin among new market participants, the emergence of the Ordinals protocol and BRC-20 standard have had a significant impact on the rise in commission. Put in simpler terms, they can be deemed similar to NFTs on the Bitcoin network that allow digital items to be exchanged. PEPE, which has also had some buzz around it lately, is a BRC-20 token, as well. In recent days, the tokens have accounted for nearly half of all transactions on the network due to speculative hype.


StormGain Analytical Group (https://stormgain.com/easy-start)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on May 11, 2023, 03:12:39 PM
Bitcoin fever: skyrocketing fees and suspension of Binance withdrawals

The Bitcoin network overload resulted in a surge in fees, which averaged $31 per transaction on 8 May. Miners were excited by the news because, for the first time since 2017, the fees exceeded the reward for mining a block.

(https://steemitimages.com/p/3jpR3paJ37V8JxyWvtbhvcm5k3roJwHBR4WTALx7XaoRovX3dCN6F8sRkVnWZoyXj6fo94NyvjS7HT7yT1MtzEtkX1hDXWg1zHzmzSmSLBmJiErvWqiCnQTrN52tn9fYkLAez?format=match&mode=fit&width=640)

But users have encountered a number of problems. Many transfers are stuck in the mempool because of low fees, as miners choose transactions with the highest fees when forming blocks.

Experienced users have manually set a fee that's higher than the current average. For some transactions with a large number of entry and/or exit points, the fee has reached $1,500.

(https://steemitimages.com/p/3jpR3paJ37V8JxyWvtbhvcm5k3roJwHBR4WTALx7XaoRovpXjipkjKf6PYk7uRNAiscTPS1XkygbAkTm1RyECJ7SZGELj3woWaBk9ajXqee56LT4sAwhPcsE1pdDAiMhK8xTG?format=match&mode=fit&width=640)

Some operators, including Binance, were unprepared for the fee increase and didn't raise the rate for users in time. As a result, transactions got stuck in the mempool. The exchange has halted withdrawals twice to raise the transfer fee. The company also announced that it is prioritising the implementation of the Lightning Network, which runs on top of the Bitcoin network and allows fast transactions between LN members at minimal costs.

The situation still remains tense. There are 400,000 unconfirmed transactions in the mempool, which will take 24 hours to process. And, despite the increased fees, demand is high.

(https://steemitimages.com/p/3jpR3paJ37V8JxyWvtbhvcm5k3roJwHBR4WTALx7XaoRovo4u3T4pMc3qFMPtd176zvLJ4SYf2XU1pofWuVsxio1547yaU56QoWptiEMx3rBgKScYAHFzNFANtgtXhaku8Gfx?format=match&mode=fit&width=640)

The main pressure on the network comes from the Ordinals protocol and BRC-20 tokens based on it that appeared in 2023. Ordinals allowed the numbering of mined satoshi, which led first to the emergence of NFT analogues and then to coins (ERC-20 analogues). Half of all transactions are currently linked to Ordinals.

(https://steemitimages.com/p/3jpR3paJ37V8JxyWvtbhvcm5k3roJwHBR4WTALx7XaoRovpUMXrEmH12zyjvqehYYVfg6xZCZGM2ZHQ2dUR8DbYFu2daWZDnQ2c62adNm2P69FHw7L3UxSscmMTLfomePpSgv?format=match&mode=fit&width=640)

A closer look at the Ordinals shows that the boom in new coins overshadowed the demand for NFTs. ORDI, NALS and PEPE are among the most sensational ones. This is good news for those who use Bitcoin solely as a payment network, as it speaks to the temporary nature of the excitement. If over 20,000 images were minted on some days in April, less than 1,000 images are released now.

(https://steemitimages.com/p/3jpR3paJ37V8JxyWvtbhvcm5k3roJwHBR4WTALx7XaoRovpDKLgVCST8RhdzBT8xUfLdLRckUcqRAJmZL4QdVmErM1hTHRfvXMAKKBzUvR1ACuZtehrMngFue9kcK219ZJkhc?format=match&mode=fit&width=640)

The hype around the BRC-20 coins will likely cool down soon, with the fee returning to its lower rates.

(https://steemitimages.com/p/3jpR3paJ37V8JxyWvtbhvcm5k3roJwHBR4WTALx7XaoRovoAxYAatLJL5jjAWrjZ8bzyW6RiSiMrdEVrgYqmmW9jV6o3cNTbWj3cKdx3YHBQdk632vn3oKH7HfjoZ3jQFrM1p?format=match&mode=fit&width=640)

Despite the difficulties, this is a positive development for Bitcoin. First, miners will only have to rely on fees when the last coin is mined. The new application of the network is to support their engagement and keep security and decentralisation at a high level. Second, the emerging crisis encourages the rise of second-tier networks and the development of additional services. Third, the growing demand for Ordinals leads to an increasing demand for Bitcoin. So if Biden follows Trump in minting his own collection, only with Ordinals, it'll increase the investment appeal of Bitcoin among Democrats.


StormGain Analytical Group (https://stormgain.com/easy-start)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on May 12, 2023, 12:44:53 PM
Ethereum staking yields up 55% in a month

It's been a month since implementing the Shanghai hardfork and allowing validators to withdraw both rewards and staked deposits. During that time, users have withdrawn 1 million ETH in rewards and another 1.2 million ETH due to the full withdrawal of validators from staking.

(https://steemitimages.com/p/JvFFVmatwWHRfvmtd53nmEJ94xpKydwmbSC5H5svBACH7z1Koux5fiLSdNVCm1hGGZwd8xibkxq4ZrXgmEq2DDuG34UDc4HsAexZwkznSNFvvr91XRZkKP83Aw7SQ1md11sMt2aL8E?format=match&mode=fit&width=640)

As expected, the main pressure came from US crypto exchanges, where the SEC is trying to get Ethereum labelled a security. Kraken has agreed to a pre-trial settlement, a $30 million fine and a gradual exit from staking. The crypto exchange has now withdrawn 528 million ETH worth $1 billion, with Coinbase coming in second at 228 million ETH worth $417 million withdrawn.

(https://steemitimages.com/p/JvFFVmatwWHRfvmtd53nmEJ94xpKydwmbSC5H5svBACH7yd3JEq4pinPbC4nhgg4P8onLBjx9u9fFk1Sz81R3pko6iyWAQBU2VNXWbxkdbvBB697HronwUNzCw2epa32vcvQigRdnN?format=match&mode=fit&width=640)

It's worth looking at the fortuitous decision by developers, who limited set a daily limit of 1800 validators for full withdrawals and up to a daily amount of around 58,000 ETH. While the exit queue is forming on the one hand, on the other hand, the inflow of those wishing to participate in the staking is increasing.

The inflow exceeds the outflow, increasing the number of validators and the amount staked. The recent surge in interest in meme cryptocurrencies also contributes to this, causing an increase in network congestion and fees. As a result, staking jumped from 4.4% to 6.8% in a month.

(https://steemitimages.com/p/JvFFVmatwWHRfvmtd53nmEJ94xpKydwmbSC5H5svBACH81btnsn3CtN9xLM9hzSvJNf5xznxcGLaJW1gRkkLMuvHgKtrZpi1pQWWDjkzsYyUqRr5YWVeKTGNSNSS7bdTS7tEF7D5K4?format=match&mode=fit&width=640)

The fears caused by the expectation of an ETH influx to the exchanges didn't prove to be true. Having received their reward, most validators reinvested it in new staking. Some investors allocated coins to cryptocurrency exchanges for subsequent sale, but the 1.8 million ETH inflow doesn't look significant.

(https://steemitimages.com/p/JvFFVmatwWHRfvmtd53nmEJ94xpKydwmbSC5H5svBACH81LaRDbfSSEcre1aKpw4aaiKuPyGAwLZXEHbLLXsFm2WRFSgxdgkdAuvGHbQuoV14PYav6ASShnkJu9XsFMPs6C8vf1pvA?format=match&mode=fit&width=640)

Increased pressure from US regulators and the potential exit of Coinbase from staking with a 12% share worth 2.5 million ETH are risk factors for Ethereum. The most significant damage would come from recognising cryptocurrency as a security.

(https://steemitimages.com/p/JvFFVmatwWHRfvmtd53nmEJ94xpKydwmbSC5H5svBACH81Sg8azSHKy3hL1yp2qZ1QjEa3ydN1WQG25q3BhhG7JQrxNVJdGppiHeLud76fS8tw7nURsqyCGPtZnFx3fhMv1NMRs31G?format=match&mode=fit&width=640)

It's worth noting that some congressmen are unhappy with SEC chairman Gary Gensler's policy, which is already leading to an outflow of investment from the country to freer economic zones. For example, in early May, Coinbase launched an international division registered in Bermuda. A change in SEC management would hint at liberalisation and a search for compromise, which would boost Ethereum.


StormGain Analytical Group (https://stormgain.com/easy-start)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on May 15, 2023, 09:32:13 AM
Why a US default would lead to the collapse of the crypto market

Bitcoin welcomed the bank collapse in March, moving up 21% to $28,400, as volatile monetary policy and the risk of new bankruptcies boosted interest in the decentralised asset. But in the event of the US defaulting on its national debt, the situation isn't so simple, as there's a strong connection between traditional finance and cryptocurrencies via stablecoins.

Stablecoins act as conductors, facilitating the payments and valuation of cryptocurrencies. Most crypto exchanges use stablecoins as a base payment currency for financial operations. Despite the loss of credibility and long-term decline of this segment caused by the collapse of the third-largest stablecoin, UST, a year ago, it's still a significant element of the crypto system, with a market capitalisation of $130 billion or 12% of the entire market.

(https://steemitimages.com/p/99pyU5Ga1kwqSXWA2evTexn6YzPHotJF8R85JZsErvtTWXW13mDtHR6xT3qn5sqMa5JFvwyd3AxpiaSBepMfubRHrxyQBUvUegutBAdUbYUY9bNf1DuotFN3UvBDAKdFTk?format=match&mode=fit&width=640)

USDT and USDC are the leading stablecoins, each with a share of 64% and 23%, respectively. However, the latter has shown a significant dependence on the banking sector, losing its peg to the dollar amid SVB's bankruptcy and trading at a 10% discount on 11 March. It was a result of blocking SVB's 8% collateral and a risk of losing funds. Since then, USDC has seen its capitalisation cut to $30 billion.

(https://steemitimages.com/p/99pyU5Ga1kwqSXWA2evTexn6YzPHotJF8R85JZsErvtTWYoUA9t636BfFNeCGU3Nn7PPLeN1JgeWrRCdSj5DGZ9Rb76svSqVGAyfXHwJZFyoMCXbcYQ9wnjbd5D5cs6vd4?format=match&mode=fit&width=640)

What's more, the primary danger is not just and not so much that assets are held at banks, as it is that US Treasury Bonds make up a large share of what's held in these stablecoins' reserves. If one can depend on the invulnerability of a systemically important bank when choosing a counterparty, things change when it comes to the potential for a default on American debt. In that case, US bonds held in reserves would turn into worthless paper.

Anticipating the new risks, Circle (USDC's issuer) adjusted its portfolio. Now, the maturity date of the bonds it holds is coming by June, the month that a default could potentially be announced.

(https://steemitimages.com/p/99pyU5Ga1kwqSXWA2evTexn6YzPHotJF8R85JZsErvtTWYoy1hzTmuQuNy6ZWwKHRgTWJ7Bjrw6WZt7oMK169bRtTFckTeNH7sGDxQ9DJTpcnypfXyRxGc6KfUZsb2Zxyk?format=match&mode=fit&width=640)

Assessing Tether's risks is a lot harder because it's not known exactly which banks hold its reserves and which assets are included in the "corporate bonds" section due to the company's offshore registration and unwillingness to go into details. In terms of bonds, they account for 74%, worth $60.5 billion, while the average expiry date is "less than 90 days".

(https://steemitimages.com/p/99pyU5Ga1kwqSXWA2evTexn6YzPHotJF8R85JZsErvtTWXfvraRBmbDR4s5krBxseyR8myD2QBfWfvAZNpvX5v3Y6Fr6k2X4jPYJHif9d6kRh1R73m3zxfXEzwfajkaeuL?format=match&mode=fit&width=640)
BDO report of 31.03.23

From this, we can conclude that USDT has a non-zero chance of losing its peg to the dollar if the US defaults on Treasury bonds.

(https://steemitimages.com/p/99pyU5Ga1kwqSXWA2evTexn6YzPHotJF8R85JZsErvtTWYgqJfrcHT1ia4ys2JEWW5S3acJx74pjR4KpSDXxjS3nfLBap3mRoUKXQH8JMcbMGF9NNhd2B3EF5v3jZFDMwU?format=match&mode=fit&width=640)

Despite Bitcoin's opposition to the traditional financial system and the collapse of the dollar in the event of a default, the cryptocurrency market could face panic and sell-offs due to the loss of USDT's peg to fiat. It's also worth noting that the likelihood of a default being announced is still low since it would entail systemic risks and hard-to-predict consequences for the US economy.


StormGain Analytical Group (https://stormgain.com/easy-start)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on May 16, 2023, 10:32:12 AM
Bitcoin network overload leads to surge in demand for Litecoin

Bitcoin is the slowest yet most protected network. Cryptocurrency is recognised by financial analysts as a store of value, but it isn't very suitable for frequent payments.

To confirm payment, the transaction must be included in a block that's formed once every 10 minutes. As the network was improved, the number of included transactions grew by increasing a block, whose average size exceeded 2.5 MB this year.

(https://steemitimages.com/p/3zpz8WQe4SNGWd7TzozjPgq3rggennavDx3XPY35pEAVnqHjGFvWdceh5ddmFcyhSpr4Zc33QRYq2ocD7jnhwwWvzaUBoBECf3gBchDGVdRwxvfAXtFJzdzHXYNi6dCqyjntA9fzUCYAJwkenBbL?format=match&mode=fit&width=640)

Nevertheless, when demand for transfers is high, the network encounters a shortage of space since an average of a little over 4,000 transactions are sent for processing in those 10 minutes.

(https://steemitimages.com/p/3zpz8WQe4SNGWd7TzozjPgq3rggennavDx3XPY35pEAVnptmFvqpy8X2q8czvjqEEpoNdqQmSvyVtJQwenSutim6EWBoLhM1i4Ux4NMczE3W12dDfwmktMetDTuRdLaa4i8VS6eNDY1uuNzZQftA?format=match&mode=fit&width=640)

For the transaction to be sent in time during peak hours, users must offer miners higher fees. The fees exceeded $30 on 8 May, which came out of the blue both for regular users and big players like Binance.

This was when many remembered the second coin (by launch date) after Bitcoin. Litecoin was designed in 2011 specifically for quick and cheap transfers. Its blocks are formed four times faster, and its speed reaches 56 TPS versus Bitcoin's 7 TPS. They're technically very much alike, which is why Litecoin is often called Bitcoin's little brother.

Its relatively high speed and lower popularity helped Litecoin avoid the problems that the implementation of Ordinals has brought (see our piece for more details on Ordinals). Moreover, the fee dropped to less than $0.01 in May.

(https://steemitimages.com/p/3zpz8WQe4SNGWd7TzozjPgq3rggennavDx3XPY35pEAVnq1CXuj7ZPxrna8qWr2tTGLSCbcpEeR6uUAPtaDTe6VmqJy4HGBWdh1cuW4bU284eZb4XyrRGZ5uEGvuLqzPdaka7z6HHJMrCVgiuNke?format=match&mode=fit&width=640)

As a result, the demand for transactions in Litecoin grew five-fold in May, going from an average of 100,000 to 500,000 transactions per day. The number of new active addresses also surpassed those of Bitcoin, while the fee stayed at its lowest levels.

(https://steemitimages.com/p/3zpz8WQe4SNGWd7TzozjPgq3rggennavDx3XPY35pEAVnpvMLpopN2AFL3tz3tC9KvPCpntE8qRfHEV5pzenk55XQkepZvDQgbHUMUoNTHMpGVZhMSEZ8c8vL7XhaPCGHguKGQkeV2w9gww5GqnW?format=match&mode=fit&width=640)

Since 8 May, when Bitcoin faced an all-time high overload, Litecoin has demonstrated confident growth against it.

(https://steemitimages.com/p/3zpz8WQe4SNGWd7TzozjPgq3rggennavDx3XPY35pEAVnqCfMqGE6hzFacUtUrMRZxPF4LuFsDjW3kAvQAHwGHSYJEZnyivEYRaYXLmHTXtQvDjtQfQ9ZV8iQjjMd1XZ7tZSWAVFBpuqyao8F8kE?format=match&mode=fit&width=640)

And there's more to come for Litecoin users and investors. The altcoin is the first among the major networks to hold a halving event, which is expected in early August of this year. Traditionally, a cut in rewards for miners boosts further growth.


StormGain Analytical Group (https://stormgain.com/easy-start)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on May 17, 2023, 10:54:53 AM
New highs for the Bitcoin network

Introduced in 2023, the Ordinals protocol gave users the ability to mint NFTs and meme tokens on the Bitcoin network (read more on the mechanics on the creator's blog). This led to excitement and some new record highs.

Daily transactions

Last week, the number of daily transactions surpassed the 2007-high by 39%, reaching 682,000.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYStKTDpeXfsMvqZp4mQHbDE8jYdqD1UqV5pmeVAwKxajTRYpHpdXrtDwYPk6mfo2w7JDMg?format=match&mode=fit&width=640)

The network has faced an overload because of the low processing speed, and the mempool queue has exceeded 500,000 transactions. Users have experienced halted transfers, and the average fee has risen to $30.

Number of transactions per block

The number of transactions has jumped from an average of 2,000 to 4,400 per block.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSiwGgh2atRCWbbbUB4qpLZYGuPTwQ7Lnfn7XuE9NmNwrU5KL7aF7hnBtanH6TddekzYQW?format=match&mode=fit&width=640)

It's mostly due to BRC-20 coins having displaced other types of ordinals. Simply put, BRC-20 consists of text that helps pack transactions more densely.

Transaction volume

An interesting pattern can be observed when analysing the average volume per transaction. NFTs appeared on the network first, pushing the indicator to a record-high 1.5 KB, as it takes a significant block size to transfer "files". But by the end of April, BRC-20 have replaced NFTs, causing the average transaction volume to drop to the 12-year low of 405 bytes.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSj19d73ztjtzLLRwtYsx4CSXriQUtdo2u3KYBciQutNqM49dZNL5XeTSAerjFUeznQeG6?format=match&mode=fit&width=640)

Fees

The new protocol was highly appreciated by miners as the hype around ordinals has resulted in fee growth (users have to offer higher fees for their transactions to be processed faster). This is the fifth time in history that the fees have exceeded the block reward (6.66 BTC against 6.25 BTC, respectively). It's also the third time that daily fees have reached $17.8 million. It previously occurred during the cryptocurrency market rally.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSjk5kE95B7RNxuPEPMkzEqzSULgSwZnKawdNaaQ2rSKwtUbPFoPTWWM5qf4s38mPar9wL?format=match&mode=fit&width=640)

Users are divided into two camps in their opinions. On the one hand, ordinals increase demand and empower the network. On the other, they go against Satoshi Nakamoto's idea of a purely payment functionality and cause fees to rise.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSe64G8M5SQPqAYPj9BvrpjKYFL5Bzk6GHxz8idzDyKZt4RTDgfFmratDCev9PhP8HrrEA?format=match&mode=fit&width=640)

One can only claim that the network records caused by ordinals haven't led to similar price shocks for Bitcoin. The number of minted BRC-20 has dropped by 36%, and the mempool load decreased by 45% from last week's highs.


StormGain Analytical Group (https://stormgain.com/easy-start)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on May 18, 2023, 12:57:34 PM
Ripple is up 9% in just 12 hours as court decision approaches

The Ripple trial is important for the company and the entire cryptocurrency market as regulators are trying to label XRP as a security. But the lack of clear criteria for dividing cryptocurrencies into different classes leads to a consequent weakness in the courts.

Developers minted 100 billion XRP coins, 80 billion of which were gifted to Ripple (this is how the company explains its non-involvement in the token's issuance). Between 2013 and 2018, the company garnered investments from funds and individuals by selling $1.3 worth of cryptocurrency. The SEC considered that to be an ICO and labelled XRP a security.

In 2020, the SEC sued Ripple. Since then, the debate has proceeded with mixed success. The regulator's weakness was the lack of clear criteria for recognising cryptocurrencies as securities and a speech by the SEC's former Director of Corporation Finance, William 'Bill' Hinman, who referred to Bitcoin, Ethereum and XRP as commodities. The discussion on this aspect in court reached a ridiculous point, as SEC officials refused to identify the person in the video.

(https://steemitimages.com/p/3jpR3paJ37V8JxyWvtbhvcm5k3roJwHBR4WTALx7XaoRovqcXHqBxPbvpwgE7UBJsjp2tbj9i8HGNkDnf3uRy3ytXESRGU7x3AhuxtpBv4eU8ZUYDV3N94EQ9ZaNn7Ekxo6c6?format=match&mode=fit&width=640)

Sensing a weak spot, Ripple's lawyers requested Hinman's reports. The SEC claimed his assessment was a "personal point of view" that had nothing to do with the case and refused to provide any documents. On 16 May, Judge Analisa Torres ruled that the privilege of the deliberative process didn't protect the transcript of Hinman's speech and was a judicial document subject to the presumption of public access.

Some media spread the word, calling the judge's decision "a victory for Ripple", followed by a 9% jump in Ripple's value in the 12 hours following the news.

(https://steemitimages.com/p/3jpR3paJ37V8JxyWvtbhvcm5k3roJwHBR4WTALx7XaoRovTecTxiGVigVurRCobLpXJZmcpUfob3wvLJm9ZMjj3SArSxZUKQx8SkMtciATWDRDs6HDQNs6VXXyD5gULWS2ZX4?format=match&mode=fit&width=640)

However, potential investors must consider some crucial factors. First, the publication of Hinman's speech doesn't mean that Ripple has beaten the SEC. The trial will continue, and a final decision is expected within a year. The majority of such manipulative headlines have resulted in subsequent price deflation (see our March article "Pump & Dump? XRP").

Second, Ripple continues to use reserved XRP to fund its operations. The circulating supply now stands at 52 billion coins, with 43 billion in escrow with the company. It can sell up to 1 billion coins every month (learn more about the mechanics).

(https://steemitimages.com/p/3jpR3paJ37V8JxyWvtbhvcm5k3roJwHBR4WTALx7XaoRovYEADBxkKKYhvMcP1ZpWiJXH1C6DZDvvz1pKaofPD46wq1SU2Uaj32YnMqNabfErbQcRsifFqbCY71NDJPZ9516e?format=match&mode=fit&width=640)

XRP is a centralised coin where the company is the key owner and approves the list of recommended validators. The company's ups and downs directly affect XRP's value. A Ripple court victory in 2023 is possible, but it has more to do with legislative gaps and the regulator's weak position.


StormGain Analytical Group (https://stormgain.com/easy-start)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on May 19, 2023, 10:47:08 AM
Dogecoin hype: the number of transactions exceeds Bitcoin and Ethereum's

Introduced in January by Casey Rodarmor, the Ordinals protocol first made waves on the Bitcoin network. Now it's reached Dogecoin. The protocol allows users to number mined units (Satoshi for BTC or Elons for DOGE) and thus transfer various 'files' over the network. This can be digital items (similar to NFTs) or coins (similar to ERC-20). On the Dogecoin network, the newly appeared elements were dubbed 'doginals', and fungible coins were called DRC-20.

To assess the new protocol's impact, we'll take a look at the Bitcoin network, which saw its highest load in the past year. Digital items garnered the first wave of interest, although they were soon completely replaced by BRC-20 tokens. The hype was so intense that transactions with Ordinals reached 65% of the total amount on certain days.

(https://steemitimages.com/p/3jpR3paJ37V8JxyWvtbhvcm5k3roJwHBR4WTALx7XaoRovcvv3tSEAJE3EQJibyJJHoXmcXquPguLiePp64bG8XvXsBQAyBw6mCVeGRbEoXHpTzc5etLTwgKyLCifYfcDervS?format=match&mode=fit&width=640)

Now, doginals are taking Dogecoin by storm. In just the past day, the number of transactions set a record, exceeding 1.1 million. The previous high of 200,000 was set in 2013.

(https://steemitimages.com/p/3jpR3paJ37V8JxyWvtbhvcm5k3roJwHBR4WTALx7XaoRovXzZeonfVbjTMK57JevDVtrQw7jVumgFeHrMpHTPNkujmoxP9Rn8S72EziNXz3ARoBCMNPLM1wiyRKt7LbKVQBe6?format=match&mode=fit&width=640)

In terms of this indicator, Dogecoin surpassed both Bitcoin and Ethereum.

(https://steemitimages.com/p/3jpR3paJ37V8JxyWvtbhvcm5k3roJwHBR4WTALx7XaoRovZNNXVmqGHtvRdiEauJnfgwtbvQd92BrcR2J6WNhe1GUmx3HqnhyCJ5JAeRzLKcHi2aasbBxPA1PiYjZFn64MvQE?format=match&mode=fit&width=640)

Dogecoin users were the luckiest. They didn't run into higher fees due to the heightened demand for transactions. Dogecoin is 4.7 times faster than Bitcoin and can hit an average speed of up to 33 TPS, which means it can process nearly 3 million transactions per day. That's why even a 40-fold increase didn't overload the network.

The introduction of ordinals also had no effect on Dogecoin's price.

(https://steemitimages.com/p/3jpR3paJ37V8JxyWvtbhvcm5k3roJwHBR4WTALx7XaoRovu15AZsRHxfkbLhxkhZXx9Si4PkHJEH6Rg4jiNVB1XzoTGs6HvuxZ6DeLzfDTPrgaYB4xYPnh4gR9tW8vQhWGSBx?format=match&mode=fit&width=640)

Doginals are exchanged due to the speculative interest of a narrow circle of crypto enthusiasts. What's more, the process itself remains inconvenient because of the lack of the same kind of services and applications that Ethereum or Solana boast. Traders hope that some of these quasi-coins or NFTs will achieve cult status in the future. However, in most cases, such expectations are met only with losses.


StormGain Analytical Group (https://stormgain.com/easy-start)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on May 22, 2023, 11:19:05 AM
Warning: Bitcoin was always part of Tether's reserves

The low financial transparency of Tether's reserves and the lack of a full-fledged audit sometimes lead to misinterpretations of fresh data. For example, at the end of Q1, the issuer of the USDT stablecoin released a report from BDO Italian, which for the first time, singled out reserves in Bitcoin as a separate line item. This allowed a number of media outlets to interpret events as new purchases of cryptocurrency for the profits generated by the transactions. K33 Research warns that it was misleading readers.

First of all, one should note that the release of quarterly results isn't an audit. BDO creates those based on data provided by Tether. The numbers should be approached sceptically, as independent accounting organisations have stated on multiple occasions. Reports don't contain any information on Tether's obligations to third parties, and the categories of other investments and loans have never been disclosed. Moreover, Tether once sought a court order to remove its obligation to publicly disclose reserves.

(https://steemitimages.com/p/gPCasciUWmEwHnsXKML7xF4NE4zxEVyvENsPKp9LmDaFv4X7Cuttkyd6GZvArRGCUbPTMiUYNwktt6k22ZohghsaNotsHwSugacENzDeuLV2sQmuaz3ANqNdFRkKcSV7jEkiWgfTP7g8Uvtz9k?format=match&mode=fit&width=640)

In the latest report, Bitcoin had its own separate line. This came amid Tether gaining significant profits from operations and reducing competitors' market share. At the year's end, BUSD may completely disappear due to NYFDS's prohibition on Paxos in February from minting this stablecoin for Binance. USDC faced a trust crisis after it risked losing 8% of its reserves due to SVB's bank collapse.

(https://steemitimages.com/p/gPCasciUWmEwHnsXKML7xF4NE4zxEVyvENsPKp9LmDaFv2Gw2H3pRHjKNo1KHx94gFugnQ7WNRNHppjBpaokC6WKuGaDP7BnFptntwUDLKan5D98BxWhRazgrTYpCCCXzWj6RBZ1oz89rBsh1x?format=match&mode=fit&width=640)

The amount of Bitcoin held in reserve matched the net income generated in Q1, which reached $1.48 billion (Tether isn't a public company; the data were made available in a press release). This led to the spread of misinformation. In fact, Bitcoin has been in its reserves for a long time.

Firstly, this is evidenced by the strong correlation of the 'Other' part of the reserves category priced in Bitcoin.

(https://steemitimages.com/p/gPCasciUWmEwHnsXKML7xF4NE4zxEVyvENsPKp9LmDaFuyvCSwRoXMsuKHohJAeaJ81eordKkomj3u1GjDhj91vcKxaxTkq1RtASK8uTdKASZfcM7YUQWZrf4LN1fPsEmJKgDCviBaP3xTjTCr?format=match&mode=fit&width=640)

Secondly, back in 2019, a lawsuit against Tether revealed that the company had spent some of its reserves to buy Bitcoin. Lawyer David Miller admitted in court: "In addition to cash and cash equivalents, Tether invested in other instruments, including Bitcoin."

(https://steemitimages.com/p/gPCasciUWmEwHnsXKML7xF4NE4zxEVyvENsPKp9LmDaFv4GBtHcLqoZPzZVtEeSsnqvYsDuEXPdgYAuLw4Js9rCag4uwXWoMJKHNMZ3A4G6R16fcfTS338g6JU77XkW9dg2ZUzRnPRfhC5hKoL?format=match&mode=fit&width=640)

The above arguments indicate that USDT has not been sufficiently backed by cash equivalents, at least historically. Buying Bitcoin with reserve funds is only partly justified if the cryptocurrency's price is rising. Apart from Bitcoin, corporate bonds accounted for almost half of all reserves two years ago.

(https://steemitimages.com/p/gPCasciUWmEwHnsXKML7xF4NE4zxEVyvENsPKp9LmDaFv4YvmcAvedmtkCeCYt6SL5qYPyhSdRmZS6m27raurtcPGJofqe5nDisx8c6jMZ1oL6pGqfsAbBAobX41QUSeYWetBCX8rXnFnYDuPk?format=match&mode=fit&width=640)

If the value of the portfolio declines and there's a rapid outflow of funds, USDT risks a liquidity crisis, which would lead to a loss of its peg to the US dollar. This would consequently provoke panic due to the stable coin's significant market share and widespread use.

For the past two years, the company has been busy rebalancing reserves and improving its financial sustainability, but it's almost impossible to evaluate its success without a decent and complete audit.

However, the tensions between Tether and law enforcement aren't over yet. More proceedings are on the way. Last year, the court demanded ledgers and other financial records, including a cash flow history, for the past few years. The claims revolve around the issuance of unsecured USDTs and market manipulation.


StormGain Analytical Group (https://stormgain.com/easy-start)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on May 23, 2023, 11:01:24 AM
Should portfolio investing be applied to cryptocurrencies?

Portfolio investing is widely used when dealing with stocks in order to balance risks or earn profit from the growth of a specific economic sector. Some investors try applying this practice to the cryptocurrency market, but it's hard to say that it performs well.

Analytics firm K33 Research has calculated the yield of a portfolio consisting of the top 10 cryptocurrencies as of January 2018. At that time, the following assets topped the chart:

(https://steemitimages.com/p/RGgukq5E6HBM2jscGd4Sszpv94XxHH2uqxMY9z21vaqHt4WPZdnKtUk8ej5R87fhSnPh5ZWWDLc1f1LxWwu346RdZuZrWxz1QbcxwXNdtYdLxfN8b63eeHD1viuhwGA?format=match&mode=fit&width=640)

If a potential investor were to evenly distribute the amount invested across the listed cryptocurrencies, the return on the portfolio would now be -53%. By comparison, the S&P 500 was up 51% in the same period.

(https://steemitimages.com/p/RGgukq5E6HBM2jscGd4Sszpv94XxHH2uqxMY9z21vaqHt2XZMLjdXD5dEFnsNWp5VFocGQutmYBx5SK66YFPASPhD3E81iM9ZMaCSodV2HqKTd1MqMtVQy4Gu1WXoXc?format=match&mode=fit&width=640)

Among altcoins, only Ethereum managed to meet investors' expectations and compete with Bitcoin. The other coins have lost capitalisation for various reasons. For example, XRP (Ripple), which ranked second, has faced pressure from a US regulator and legal claims for allegedly holding an illegal ICO. Meanwhile, number 5 ranked Cardano has stumbled upon technical issues after it rolled out support for smart contracts.

(https://steemitimages.com/p/RGgukq5E6HBM2jscGd4Sszpv94XxHH2uqxMY9z21vaqHt1zV2JR2DpTZVjzCvJ7CvraYqd7DfGX3HpQDQN4VjArcLRcybJ383UekZxGQyUcwnj145sVmYStgGgyfxML?format=match&mode=fit&width=640)

However, that doesn't mean that altcoins can't be considered for long-term investing. Dogecoin has grown seven-fold to $0.07 per coin, and Solana, which premiered on crypto exchanges in 2020, still trades at more than 20 times its offering price.

(https://steemitimages.com/p/RGgukq5E6HBM2jscGd4Sszpv94XxHH2uqxMY9z21vaqHt4rWLFQbVgHUkdmDJBSZ27aa28Su7a5ZQmempYLgqDVfQdDiF5nuw7X9gn3djbNKUyFRvB4escgLXJeYFCi?format=match&mode=fit&width=640)

The above arguments point to the poor performance of traditional portfolio investing. The cryptocurrency market is young, and coins see continuous rotation. Like a stock index, the underlying asset is Bitcoin, which many analysts recognise as a 'store of value'. However, one should be cautious when buying altcoins and focus on those with significant growth potential. One should also be ready to get rid of assets just in case the project faces any issues.


StormGain Analytical Group (https://stormgain.com/easy-start)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on May 24, 2023, 10:54:20 AM
Why is Bitcoin not increasing in line with transaction demand?

Last week, the number of daily transactions on the Bitcoin network reached an all-time high of 682,000 per day, but the price didn't rise with the increased load.

(https://steemitimages.com/p/21PRtjKRXPQybj4WUXScWv5QPLninWRxfbcWNsx7SenD7FpzwhHxbU4ne5MKqV3JmP4voVoP9nbzcvKMeiF54rLccc386GrJnxozfTUzPsuQyaSEhEXsBiRmCwn9bAShTA2Kb7D4PUDRbQAWxzqcWzJ?format=match&mode=fit&width=640)

Ordinals caused the heightened demand. We've already covered this new way of transmitting digital objects. Since sending ordinals is usually done via small amounts of BTC, the network's cash turnover has remained low. Two years ago, indicators reached $13 billion, but now they don't exceed $4.5 billion.

(https://steemitimages.com/p/21PRtjKRXPQybj4WUXScWv5QPLninWRxfbcWNsx7SenD7FpBE7oFhHwo9kPXyWRueMqGophhVvcPhwgxRUKUACNPZEsDhX9wQb5VyMtdugUwQhe21SMWwGyk9ife38xCK7E2UmN2c7cHdAnt1fRgxHt?format=match&mode=fit&width=640)

The significant gap between the number of transactions and transfer volume hints at a lack of external interest in ordinals. This is also confirmed by a drop in the inflow of funds to crypto exchanges from the record-high of $4.2 billion two years ago to the current $0.6 billion. Simply put, users aren't rushing to buy Bitcoin and then carry out ordinal transactions.

(https://steemitimages.com/p/21PRtjKRXPQybj4WUXScWv5QPLninWRxfbcWNsx7SenD7FwM7Ndv44A3onYYKDFJ9cCof1hkLQi444Tx9xq76LwJqfZxSFFHiUnrae28CweCSJpbaqkT5rbPUDHXGoachiQCpoDb58hZMsrSsqvdyxa?format=match&mode=fit&width=640)

Institutional investors (a key investment power since 2020) have now reduced their market presence for the fifth week in a row. During this time, they've withdrawn $150 million from Bitcoin funds.

(https://steemitimages.com/p/21PRtjKRXPQybj4WUXScWv5QPLninWRxfbcWNsx7SenD7Fs93ZuyPDmG8wkFqW8DtHKTfajJeaD8aBfHf4jVP3PmX4p1HK4XZgEpsSRCsWC9V3K8ptWxozo65EmwzYjB3D5dAXu5ZvcgvyEqsUUVqrW?format=match&mode=fit&width=640)

But the majority of holders aim to keep Bitcoin in the hope that its price will continue to rise.

(https://steemitimages.com/p/21PRtjKRXPQybj4WUXScWv5QPLninWRxfbcWNsx7SenD7FrGvTuEJCv45seAU2Ffpoey1CRsdkTuT4kRyE927CbZk8VNne23aaRMSUCmpQqbtPxx1CikyM461cZu72BxgTD3VzkaM3Q79rMsChDrKMp?format=match&mode=fit&width=640)

Long-term holders, i.e., those whose coins have been idle for over 155 days, have set a new accumulation volume record with 14.5 million BTC, and the MVRV ratio indicates that the cryptocurrency is oversold, as it has been in previous bearish cycles.

(https://steemitimages.com/p/21PRtjKRXPQybj4WUXScWv5QPLninWRxfbcWNsx7SenD7FxCH8abatGobVJY1nCEGTAHFT7625FfbrtrwXLnYYMvX1ZW7EJ5ZrDBJywja74Zreq9BsNSrByFrUMyNAbg9XWWen1wZUi1HLkry4XkF7U?format=match&mode=fit&width=640)

Financial markets are currently experiencing uncertainty due to a possible reversal of the Fed's monetary policy stance. CME's FedWatch tool predicts that there is an 80% chance that the interest rate will remain unchanged at the Fed's upcoming meeting in June. If the regulator pauses its interest rate hikes, it may give Bitcoin momentum, with some players, including institutional investors, turning their eyes once again to the cryptocurrency.


StormGain Analytical Group (https://stormgain.com/easy-start)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on May 25, 2023, 03:53:57 PM
Bitcoin: hoarding sentiment at its highest

Bitcoin's great take-off in Q1 brought the market back to life, but the following calm led activity to reach three-year lows. Trading volume now stands at $146 million, while the record for realised gains is $3.5 billion and $2.3 billion for recorded losses.

(https://steemitimages.com/p/LcTxR7u1XKaa3e4T1EBuBP18JezPvjFFo8gNuE9CiKHBn3HMiEJCHriDu2GYQZXgU6GCoPpCCFeV1uMWV13phWGB7dxej1xm5iRtypYv8jhciFiL2yhxuXceVPcf6AZm1rMjYWQaHKw6CYFoQm6LGuzKY?format=match&mode=fit&width=640)

Much of the result is related to investors' unwillingness to spend coins at current prices. Hoarding sentiments are reaching new highs, with long-term holders (LTHs) accumulating 14.5 million BTC. Glassnode considers LTHs to be those with coins that haven't moved for over 155 days. The addresses of cryptocurrency exchanges and other aggregators are excluded from the analysis.

(https://steemitimages.com/p/LcTxR7u1XKaa3e4T1EBuBP18JezPvjFFo8gNuE9CiKHBn2s2WpK6wX51mpv91xFNpDbpLBsLDcP1iWiNLdSBGz85mWiwKEp7ue2KcgGbHzTF3buWpwB6jADbheSB7Xm6fL3F7gHD2ZhvKnxepttuDNYZ4?format=match&mode=fit&width=640)

Liveliness is another indicator to measure sentiment. When the majority of coins remain idle, the indicator decreases. But when the expenditure of both new and old coins grows, liveliness does, too (read more about liveliness here). Despite the market's decline in 2022, hoarding sentiment still prevails.

(https://steemitimages.com/p/LcTxR7u1XKaa3e4T1EBuBP18JezPvjFFo8gNuE9CiKHBn32QJUVFWn9pfs3JcwfmRjRe1xcVKpPbKQrJbd3JEac4nSAbpg8ZCQ5CbPQiv9wbq2rczkBZW1wqn83d4UjKLxHFEDPQr5pDgUahZTnULLhsk?format=match&mode=fit&width=640)

Even short-term holders (STHs) remain indifferent to sales at current prices. The indicator of destroyed coins for the past 90 days remains around local lows. The last significant activity of this group was observed during November's FTX collapse.

(https://steemitimages.com/p/LcTxR7u1XKaa3e4T1EBuBP18JezPvjFFo8gNuE9CiKHBn2sRHs63D9YMcMrV265e15m7zBWxtopGkK6Md78QGtaZSE7WbKTeQGKZ1tdEGeu2WWAhMFANojF5r3oj4TFRZED34C6VLWRbCVLVYEHWG1TKU?format=match&mode=fit&width=640)

Excluding skyrocketing network activity caused by the implementation of ordinals, users froze in anticipation of Bitcoin reaching new highs.

(https://steemitimages.com/p/LcTxR7u1XKaa3e4T1EBuBP18JezPvjFFo8gNuE9CiKHBn5rtDK4HcrVzKErzWLuKptJDkA3iZY14fcq7gJuLtDKB4ey3KtdNHf4igLbxa9u5h3i7VXMTxYE1YQDec4LSTTQJhbHZ5r3fs6ysG3RHxvorW?format=match&mode=fit&width=640)

The trigger that gets this group moving again could be news from the US on the extremely last-minute national debt ceiling or a pause in the Fed's hawkish monetary policy.


StormGain Analytical Group (https://stormgain.com/easy-start)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on May 26, 2023, 11:05:30 AM
TUSD achieves second-highest trading volume among stablecoins

The stablecoin market is going through hard times, as evidenced by its 14 consecutive months of decline. In May, the sector's capitalisation fell by another 0.5% to $130 billion. TrueUSD, however, avoided the negative trend. Its market capitalisation increased 2.7 fold to $2 billion, and, due to high demand during certain times, the coin was worth 20% more than the US dollar.

(https://steemitimages.com/p/qjrE4yyfw5pEPvDbJDzhdNXM7mjt1tbr2kM3X28F6SraZg8mLCsXxj4aDavQu2T1AezQJcU5E9AahFKHeXzZXuYAdkxXvfb78XViuxHgq7vdHw42KSxuVZCi?format=match&mode=fit&width=640)

Demand for the stablecoin jumped after Binance decided to offer zero commissions in mid-March when trading pairs with TUSD. It's now the only stablecoin with 0% commission on the largest exchange by trading volume. A similar decision was made by Huobi and a number of other crypto exchanges.

In April, TUSD's trade volume jumped by 670% to 38.4 billion, second only to USDT. In terms of market depth, the BTC/TUSD pair on Binance also ranked second behind BTC/USDT.

(https://steemitimages.com/p/qjrE4yyfw5pEPvDbJDzhdNXM7mjt1tbr2kM3X28F6SraZk6cuSvX5rAZ5zG8zdmsft6W8ihWs5y263RGQcqH9XaynxTey4CSKJXgvxVpEmjcVvbpg1Vpzhug?format=match&mode=fit&width=640)

Despite achieving significant success in gaining acceptance, the stablecoin has a market share of just 1.5%. At the same time, more questions are arising for USDT, whose market share has reached 75%. Its trading volume has been declining over the past two months, and its market capitalisation is close to setting an all-time record. In contrast, Kaiko has identified a natural decrease in market capitalisation as the trading volume for BUSD and USDC falls.

(https://steemitimages.com/p/qjrE4yyfw5pEPvDbJDzhdNXM7mjt1tbr2kM3X28F6SraZjnFN42cN2Ew68vDPjLiMmc7iSeoYrb3XgzqJGo7C6u9o87YmRdgMPqxV8BJ9qZx8FgSYxACmVEN?format=match&mode=fit&width=640)

According to Kaiko Research Director Clara Medalie, this discrepancy may be due to market makers' use of USDT in transactions between Tron, Tether and Binance. However, even when taking this assumption into account, the growth in its market capitalisation growth still looks doubtful. Tether's representatives have not yet commented on issues in the community.

(https://steemitimages.com/p/qjrE4yyfw5pEPvDbJDzhdNXM7mjt1tbr2kM3X28F6SraZfUnF9VebrrnWaiuPyv7ccAFCufnfdbFzKPgw74nWjVrRBT5iApE3f5VbQLnDdaodDHJybk2SGzA?format=match&mode=fit&width=640)

The ongoing litigation against Tether over claims about the quality of its reserves and allegations of potential manipulation of Bitcoin's price is casting a shadow over the entire cryptocurrency market. If allegations of misconduct by the company are confirmed, the impact would hit a wide range of crypto assets due to the stablecoin's widespread use.


StormGain Analytical Group (https://stormgain.com/easy-start)
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Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on May 30, 2023, 08:06:25 AM
Avalanche prepares the ground for growth in 2023

Avalanche is one of the most promising young projects. Thanks to separating its blockchain into functional subnets, the current average transaction completion rate is 0.8 seconds. Ethereum, with its 6 minutes, looks like a dinosaur by comparison.

(https://steemitimages.com/p/EEEoA8oLaAxsTkPYAARp78o5cJA1o6Chv9x98TzCFT6v5HkhCYArjr5ngjBkB1g6nftCLYFKf5qp39c7Emdf4p9P8NPTKyPthH8YSU2hw4MQzkb7jEjRvwhQn7o6vCCnm84WHr9vLFD83uZQ6GdnW?format=match&mode=fit&width=640)

Launched 30 months ago, Avalanche was the first blockchain to partner with Amazon in January 2023. It allows developers to offer scalable blockchain decisions to users and governments that utilise Amazon Web Services.

This led to a 2.7-fold increase in the number of active addresses this year to 97,000.

(https://steemitimages.com/p/EEEoA8oLaAxsTkPYAARp78o5cJA1o6Chv9x98TzCFT6v5FpdMCLEj8C9rGyKKS4VFggLHSJtuTFrwQxAysN4wnNeJGQ6SXf6E93XqNDE9XQMBk2Q2XtkRUy1mPoqGKvsMTLjdfhaJN9ujLw6Lbn2z?format=match&mode=fit&width=640)

On 25 May, Circle announced that it was unrolling the EUROC stablecoin on Avalanche. EUROC is ranked third among euro-based stablecoins, with a market cap of $52 million.

(https://steemitimages.com/p/EEEoA8oLaAxsTkPYAARp78o5cJA1o6Chv9x98TzCFT6v5J3FdNJ2cFQ61vujTqet199fnpJH52sVxcKKUnvNaya7mKFfVn8G8LB7GMXSiqGJWepThfnapJr5oEeVHmdHQGVNN2k1NNFhAHi9Pc8Fg?format=match&mode=fit&width=640)

That's nothing compared to the overall stablecoin market, but the unjustified tightening of regulation in the US and the imminent adoption of the MiCA bill in the EU have already led to a shift in the financial sector. The migration of companies from the US to Europe and increased transparency when dealing with cryptocurrencies in the EU will lead to higher demand for euro-based stablecoins.

This will consequently affect interest in Avalanche as the costs users and operators encounter are way lower than those of Ethereum.

(https://steemitimages.com/p/EEEoA8oLaAxsTkPYAARp78o5cJA1o6Chv9x98TzCFT6v5GagTzPXHm8hoDqWpiwG72LdGfNgmaRXTJYfT1c3AGUAiuwEPabCqzqG7CKXEzuRFNi2s9bHTAaYV7jeLQ5yQ4znezkE5ifRBJYoEBQ8v?format=match&mode=fit&width=640)

Avalanche is now trading 28% higher than it was in early 2023, but that's still a drawdown of 90% against its all-time high. The coin looks undervalued compared to the prospects and growth of the projects involved in the network.

(https://steemitimages.com/p/EEEoA8oLaAxsTkPYAARp78o5cJA1o6Chv9x98TzCFT6v5HrXpkqc8zZnBFeuLKDqcJiwFpgew4UCrdkqr21e3xUig76NS4ancKZNyjrKpRLMnYohLVLoD3Jvc8X7v6oUfHR85UTXz62DQkLw8bG7p?format=match&mode=fit&width=640)

Futures traders share this opinion. Open interest set an 11-month record on 18 April, and the 2023 funding rate is mostly in the green zone.


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Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on May 31, 2023, 11:15:16 AM
The spring is tightening: Bitcoin's exchange volumes and volatility plummet

Barring an increase in transactions caused by the frenzy around ordinals, Bitcoin network usage will hit a two-year low. The indicator of exchange activity is used to illustrate the situation. It gives the ratio of weekly deposit and withdrawal volumes over the past seven days with the six-month average. Recent activity is down 27.3% for cryptocurrencies as a whole and 29% for Binance in particular.

(https://steemitimages.com/p/7258xSVeJbKkzXhyseBP4PYz11eBDT8sW2oR1a4vfVFS6HdccRD77czWKG2u6cTwuZkagNNLRmYhU2ypvdNj1SjVE7fa1Xb51WxCLnpE39C34v81moGzDFz5ULCshEWjJw1ZZjAKQGRk2?format=match&mode=fit&width=640)

Monthly realised volatility declined even further, falling to 34.1%. Historically, this level has only been observed on one day out of five, which foreshadows strong price swings in the near future.

(https://steemitimages.com/p/7258xSVeJbKkzXhyseBP4PYz11eBDT8sW2oR1a4vfVFS6HzKeRPQwQ6FsdK3jgUmJTqkskyG8VcAnb7H9GG82Xz2J4fwE4dZtvyMMUzNW4uXddkxyD87XEKsMCZB5486kkGxok7FFZuin?format=match&mode=fit&width=640)

In terms of price targets, the price will be locked in between the realised price for active investors ($33,500) and investors' MVRV ($17,700).

(https://steemitimages.com/p/7258xSVeJbKkzXhyseBP4PYz11eBDT8sW2oR1a4vfVFS6HTkHpfnwcDRE9uwN17bQnfWDSakkEidmgS64fZAvtB2ret3KB57iQiNBgDAcUktk8z6aBSeQU5dwADaMNBKCHGMntSNJvPvN?format=match&mode=fit&width=640)

Meanwhile, the unrealised profit/loss ratio for short-term holders (STH) returned to breakeven levels after being in a zone of euphoria. This return often becomes a support level, after which the price rushes up again (indicated by x̅ on the chart).

(https://steemitimages.com/p/7258xSVeJbKkzXhyseBP4PYz11eBDT8sW2oR1a4vfVFS6HTT2cZBpBGJfWQ7rAKFgUPcRnyzuufUrT9sKB87JGcjBxFULgMeqQfwA1EYDB9Mo1xV2HLMkQhKEQMiEkBtxqhWjjKW2p9Kk?format=match&mode=fit&width=640)

On the macroeconomic side, as the cryptocurrency market matures, Bitcoin's correlation with traditional financial instruments increases. The following example shows the nearly synchronous movements of gold, silver and Bitcoin over the past 12 months. The exclusion was triggered by the collapse of the third most-visited crypto exchange, FTX.

(https://steemitimages.com/p/7258xSVeJbKkzXhyseBP4PYz11eBDT8sW2oR1a4vfVFS6HyqQKWvwY3vZR769ewgQuQY42DbsvGzo4Heh1tSSLDLPzDYRN3VGZzkALr4R2WeaLD7m3k4dWrjCiqTv1niQUWapixb9dcJ2?format=match&mode=fit&width=640)

We are now in the compression stage of the spring since the decline in activity is not specific to Bitcoin.

(https://steemitimages.com/p/7258xSVeJbKkzXhyseBP4PYz11eBDT8sW2oR1a4vfVFS6HibJ6nbu9Yy5idLYGB81E6uoYqY3YGxFxwDbMB1Y1wruAJAZgpa7rRbYMEdhZFKvmAJoQPH8wts5yehpcxbV6QNVN9DeDYbg?format=match&mode=fit&width=640)

The protracted dance over increasing the US debt ceiling or the Fed pausing the tightening of its monetary policy could lead to an imbalance as soon as June.


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Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on June 01, 2023, 11:30:46 AM
Why institutional investors are pulling out of Bitcoin

Cryptocurrency funds have been facing a month-and-a-half of investment outflows. In the past week, $39 million was pulled out, and in the past six weeks, the total amounted to $200 million. Among crypto coins, Bitcoin has seen the largest outflow, with the US leading by country.

(https://steemitimages.com/p/gPCasciUWmEwHnsXKML7xF4NE4zxEVyvENsPKp9LmDaFv1872AJ1zKbs2C1cDTbHxj7qD1dtbEV4wWEr5Yi7rWBmFmn4bmAbC3YWsi9AiQU8kvmoBEmthbzfbaM1bBUjjx23wMzPHcfHAF4H1p?format=match&mode=fit&width=640)

Applications for an exchange-traded fund (ETF) for spot Bitcoin are still being rejected by regulators. Only ETFs for cryptocurrency futures contracts are allowed. The first and largest such fund in the US is ProShares (BITO), and it has seen the biggest investment outflows.

(https://steemitimages.com/p/gPCasciUWmEwHnsXKML7xF4NE4zxEVyvENsPKp9LmDaFv5Au22hs3R1rLub7JFPMQpJG9Y3BpR6o14PuNpQPf7UcbJfwxrJuvFtRsWqhLUsSjwHmNY8CCWCCWrBLgvLo6NG64Cf3RGDY4E1LQN?format=match&mode=fit&width=640)

More specifically, it's due to the particular features of how futures contracts work. As the contracts expire, the fund buys new ones, with the difference being traded between them. Contracts with a later date are now more expensive than those that expire earlier. This phenomenon is called contango.

In such a case, when switching from one contract to another, the fund buys a new one at a premium, thereby creating a loss. This 'contango leak' has resulted in investments via ETFs lagging Bitcoin by 14% year-to-date.

(https://steemitimages.com/p/gPCasciUWmEwHnsXKML7xF4NE4zxEVyvENsPKp9LmDaFv1xJsv1e28UCmbzz4PQg7zCKXVqW9WRMkM7RQVaaGZNvs2wwtboH1LHcLUb7NdApRqYjcvupMgSAk2JSn5PmBb3MZr27KT4jumf8ra?format=match&mode=fit&width=640)

Thanks to last year's bearish trends, BITO lagged behind Bitcoin by just 1.8%, a number that seemed fairly acceptable. However, the cryptocurrency's resumption of upward momentum in its price has led to an increase in contango and a dip in investor returns.

(https://steemitimages.com/p/gPCasciUWmEwHnsXKML7xF4NE4zxEVyvENsPKp9LmDaFuywd75dAr4xGTPxGj1KymG31DPHXyZFstBh6jyKTDZYwLL97VzY2vZPLLaTBN99sBWjMtiDMeYwPapEfmsgj1Cs6GL7fb3KVRbYURt?format=match&mode=fit&width=640)

K33 Research analyst Vetle Lunde warned in a note to investors that the high contango situation is likely to continue in light of the cryptocurrency's expected price growth. That said, long-term investments in Bitcoin via futures ETFs are looking increasingly less attractive.


StormGain Analytical Group (https://stormgain.com/easy-start)
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Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on June 02, 2023, 09:55:37 AM
Complexity has eaten away at miners' profits from Bitcoin's rise

Bitcoin's return to growth in 2023 has been met with enthusiasm by miners actively building up their computing power. In the past five months, the complexity has increased by the same 45% as for the whole of 2022.

(https://steemitimages.com/p/2r8F9rTBenJQfQgENfxADE6EVYabczqmSF5KeWefV5WL9WPJvk5J5Rq6VvwJbmJBusQ9B1UQEgE1RGTEUyXW3RFfmYcNrVRSXZpN7TjVmUg2cKTTdZ56WtDdE4uofQKRx?format=match&mode=fit&width=640)

The computational complexity increases or decreases in response to the amount of power involved, with the expectation that it takes 10 minutes to mine one block. Adjustments are made automatically every 2016 blocks, which is about once every fortnight.

(https://steemitimages.com/p/2r8F9rTBenJQfQgENfxADE6EVYabczqmSF5KeWefV5WL9WGDFQL1t3amEe4wdve3J34vw4FoY782FmYVhmgtBk4VbYTH3y9kRtBE37C4F6CFhGgpZB97TmWh57kyz4p5U?format=match&mode=fit&width=640)

Complexity has no direct connection to Bitcoin's price. However, a price increase increases the profitability of mining and attracts new entrants or encourages old ones to increase their capacity. In the pursuit of profit, miners are causing complexity to increase.

As a result of the new equipment being connected at a rapid clip, mining yields have rolled back to the level last seen on 13 January, when Bitcoin was trading at $19,000.

(https://steemitimages.com/p/2r8F9rTBenJQfQgENfxADE6EVYabczqmSF5KeWefV5WL9WCCwjB8vE4sj8dDnS72bVHK6HTw9hCpYasdVuRvXjc32dd2YFy3CECXmc3B8cryoY8Y8L5njTnFE9ujsvKn6?format=match&mode=fit&width=640)

The only thing holding yields relatively high and that caused a surge in yields in May is the hype around ordinals. The Ordinals protocol allows digital objects (similar to NFTs) to be exchanged on the Bitcoin network. Due to some crypto enthusiasts' excitement about the innovation, network congestion has skyrocketed, resulting in higher fees.

On 8 May, commissions exceeded the award for block production for the first time since 2017. We can see on the following chart that the percentage of income from fees remains high. The peak on the chart doesn't reach 100% due to the averaging of values.

(https://steemitimages.com/p/2r8F9rTBenJQfQgENfxADE6EVYabczqmSF5KeWefV5WL9WCFvqwZ33jjd3vd71pwfkemfTfQCvB1BfPw8YLVpa2m2QSmGN5RGT9cAu1wXc4ZaRXX7JjCFhJ5dboe5TYcn?format=match&mode=fit&width=640)

Once interest in ordinals subsides, miners' revenues will drop even more if all other things are equal. Some cooling to minting digital objects compared to early May can already be observed.

(https://steemitimages.com/p/2r8F9rTBenJQfQgENfxADE6EVYabczqmSF5KeWefV5WL9W7YVRG1hTvePGJs5RuvJQqpwsQJdXZC8RdDUhE5FUhmiPNNYVw5nvstZ1b5JjyxuGZADtPyEV2ZHznnpmUbx?format=match&mode=fit&width=640)

As we've previously described, the hash rate has become hopelessly detached from Bitcoin's price due to fierce competition between mining companies' expansion by raising investments from third parties. For example, Core Scientific, the company with the highest capacity and level of debt, filed for Chapter 11 bankruptcy late last year. But this hasn't affected the network's hash rate. Despite the business being restructured and ownership potentially changing, most ASICs continue to mine Bitcoin.


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Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on June 05, 2023, 12:11:01 PM
Litecoin challenges Bitcoin

Prior to the advent of ordinals, Litecoin remained in the shadow of its bigger brother, despite having ultra-low fees and faster transaction completion rates. However, continued high network utilisation and cryptocurrency exchanges' increased Bitcoin withdrawal fees have significantly increased Litecoin's appeal for transfers.

(https://steemitimages.com/p/2r8F9rTBenJQfQgENfxADE6EVYabczqmSF5KeWefV5WL9W7c3PCPhcq7wsQzgrmEmjNhzipH8L7phah7sUARrDM9mgnivStVuDpsqhJCLwj7VxF77S5wWTaFEkJaZFyup?format=match&mode=fit&width=640)

In May, the use of ordinals (similar to NFTs and ERC-20 tokens) led to congestion on the Bitcoin network. At an average speed of 7 to 8 transactions per second (TPS), it can't handle over 700,000 transactions per day.

As transactions queued up in a long line, users began raising fees for miners to get the transfer processed as quickly as possible. As a result, the average commission on 8 May exceeded $30 and is still above the annual average.

(https://steemitimages.com/p/2r8F9rTBenJQfQgENfxADE6EVYabczqmSF5KeWefV5WL9W9DTjXJ311aNnsSbcmcR2YAieAeAcEHrfmYBj1rLAHnVeNGbuPh8P2PGmqC4mNQiD6F2xZDmZvZ4AAJBK7pS?format=match&mode=fit&width=640)

The situation was bound to increase the appeal of Litecoin (as we wrote about earlier), which, with fees of $0.01, is 8 times faster than Bitcoin (56 TPS versus 7 TPS, respectively). As a result of many users switching over to Litecoin, the cryptocurrency network had already processed 13% more transactions than Bitcoin by 25 May. And since 8 May (Bitcoin's peak fee day), Litecoin's price has risen 20% against Bitcoin's.

(https://steemitimages.com/p/2r8F9rTBenJQfQgENfxADE6EVYabczqmSF5KeWefV5WL9WD24cknu8mgENbpqnj9J8k7iehKsD8HdGUpSZoduanqLW4D6TZpSkkxWAwqhBMq7ChZSpE82r9jjzKHYZcGe?format=match&mode=fit&width=640)

The Litecoin network overtook both Bitcoin and Ethereum in terms of the number of active addresses on 9 May, breaking its previous record by 33%.

(https://steemitimages.com/p/2r8F9rTBenJQfQgENfxADE6EVYabczqmSF5KeWefV5WL9WGHLXerb5WdkbzGeGkprotXdXvxFDFZEktnnXxqKpKvRdH4VDuZs3gEUWRTmHi2W8C3huUznMDHVsMYRdgLW?format=match&mode=fit&width=640)

Another positive factor is the halving event that's due to take place in early August. Litecoin will cut its blockchain mining fee before other major networks do, thus reducing the volume of its circulating supply, which is good news for its price. Typically, after a halving event, cryptocurrencies show sustained growth in the medium term.


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Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on June 06, 2023, 10:04:25 AM
Ethereum staking hits DeFi

On 9 November 2021, the decentralised finance (DeFi) sector peaked at $179 billion in staked funds. Since then, it has fallen to nearly a quarter of that amount, $47 billion. It didn't receive much of a boost in 2023, adding only 26% total value locked (TVL).

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSixbgmDgmRGFkE7cGGPeGdiEAoV8LcRNLJvCWQheCxQxN5mVvAWQEbREwh27QVea94miN?format=match&mode=fit&width=640)

The upheaval began with the collapse of UST (Terra), the third-largest stablecoin, which reached a market capitalisation of $20 billion at its peak. The coin experienced high demand in DeFi thanks to its high staking yield, which went as high as 20%. UST's fall caused a significant outflow of funds from other projects, as well, some of which encountered a liquidity crisis and went under as a result.

The sector's decline can be more clearly reflected through the capitalisation of leading tokens (excluding Ethereum) of projects such as Uniswap, AAVE, Maker and others. Analyst agency Glassnode has dubbed them DeFi 'blue chips'. When expressed in either ETH or USD terms, the index shows an over 90% drawdown.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSjdQxa2Hxz3tdCAKDt61AvNgXAW6Wma1hyde1hq3YRYNVveuBHGnds1BNvqRabA26PCFG?format=match&mode=fit&width=640)

Since Ethereum is most often staked for entry into DeFi (until 2021, its share exceeded 95%), project coins must provide a return that at least exceeds this cryptocurrency's growth.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSjgzFSVwrdJ4WQL3bgtXuRvyHUFKVVherudu5sxpyFTQVtyvUKSx9r2CBb9bMDnu7BBQS?format=match&mode=fit&width=640)

"At least" because with the move to proof-of-staking (PoS), there is the possibility of a passive income. The staking yield is currently 4.6%, and in May, it was as high as 8%.

Another important aspect of tokenomics is inflation. Staking rewards are paid in the coins of the selected project. Therefore, the greater the offered yield is, the greater the inflation that increased coinage causes. This largely explains why DeFi project coins have fallen harder than Ethereum. This also includes funds that are staked at the start of projects and earmarked for future payments to developers or investors. Every infusion of liquidity undermines the value of the coin.

Unlike most competitors in the sector under review, Ethereum remains deflationary after its transition to PoS. More coins are burned through transactions than are minted to reward validators.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSgyUdbGq1QF7x3313R1bH9aKzQz1KBNpW2batSEs93udbtUUbNGn3bGHM48eQ7ETe4h7c?format=match&mode=fit&width=640)

The last hurdle for investors was when staked funds were frozen. On 12 April, the Shanghai hardfork lifted this restriction. Since that date, the number of new addresses created in 'blue chip' DeFi has plummeted from 1,000 to 600 per day.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSu4DYBUZLqZRpm8p6ULikyHMLbu45oQLHyuJxqUfJeM9Tyzh6EMHmoVR43hJveXjMeRyG?format=match&mode=fit&width=640)

Following the decline in confidence in DeFi due to a series of crashes in 2022 and the introduction of full staking in Ethereum, other projects are finding it increasingly difficult to attract grassroots investment. Meanwhile, Ethereum has seen the number of its validators increase by 13% to 698,000 since 12 April.


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Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on June 07, 2023, 10:46:29 AM
Binance disgraced: SEC files suit for multiple violations

US regulators are stepping up measures to squeeze the cryptocurrency sector out of the traditional financial system. Following the closure of cryptocurrency-friendly banks, the crypto exchanges Kraken, Coinbase and Binance have received pre-trial complaints. Negotiations over Binance have stalled, with the Commodity Futures Trading Commission (CFTC) first suing and now the Securities and Exchange Commission (SEC) joining.

In many ways, the SEC's claims echo those of the CFTC: serving US customers in circumvention of KYC and AML policies, wilful violation of securities/commodity options laws, market manipulation, commingling of customer and company funds, Binance.US' reliance on the will of CEO Changpeng Zhao (CZ), etc.

The newest and most serious among a long list of allegations is the disclosure of a scheme to move client funds into the accounts of companies controlled by Binance (Sigma Chain bought the yacht for $11 million) and into CZ's personal account (at least $62.5 million).

(https://steemitimages.com/p/7258xSVeJbKkzXhyseBP4PYz11eBDT8sW2oR1a4vfVFS6HdcXxbEPmywQxTMyNhpLt1S7x4t2QhiWrHamza5QzbNcd3j3P5Z9FS9Uipc2kWRQrV1b6kezH5HzoWQ6ZzJHnqUza9xT5dn6?format=match&mode=fit&width=640)

The SEC is demanding in court the cancellation of the illicit proceeds, the payment of fines and compensation, as well as a complete ban on Binance and CZ's operations in the US.

The supervisory authorities' effort to bring claims against Binance on its own shows that there was not only potential abuse of investor confidence by CZ but also gaps in the company's legal and regulatory framework. Essentially, the lawsuits from the CFTC call BUSD, ETH and LTC commodities, while the SEC views them as securities. However, none of the regulators have yet disclosed their criteria for assigning the cryptocurrencies any kind of status.

In an interview, SEC chairman Gary Gensler said that all cryptocurrencies except Bitcoin are securities. Based on court documents, Cointelegraph estimates that the SEC regards 61 tokens as securities. Recently added to that list are Solana, Cardano, Polygon, Filecoin, Cosmos, Sandbox, Decentraland, Algorand, Axie Infinity and Coti.

(https://steemitimages.com/p/7258xSVeJbKkzXhyseBP4PYz11eBDT8sW2oR1a4vfVFS6HiLndPVhsSLYynKk1CE1f8td9HDQYn4GMvTJBLcG4nmN9CtdpkYdnMg54m6UXduJyxybfvmy1UfbmD4J1hd6M6yrzUUpnog2?format=match&mode=fit&width=640)

The confusion surrounding the status of cryptocurrencies is paving the way for new lawsuits against other market participants. First and foremost, this concerns Coinbase, the largest crypto exchange in the US, which is already ignoring the pre-trial claim and preparing to defend its right to provide staking in court. The SEC's extension of the list of securities allows a crypto exchange to be incriminated for violating the law, including for being an unlicensed securities broker.

While some financiers support the regulators' push to corner the cryptocurrency industry, others point to the risk of the US lagging behind in this promising industry and an outflow of capital and investment to cryptocurrency-friendly jurisdictions.

Of course, if Binance loses, the markets will face a new wave of turmoil, but the trial could last for over a year. An example of this is that the SEC has been suing Ripple since 2020 in an attempt to have XRP deemed a security. A decision in the case is expected this year.


StormGain Analytical Group (https://stormgain.com/easy-start)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on June 08, 2023, 01:07:32 PM
Crypto storm: users hurriedly withdraw Bitcoin

The SEC sued Binance and Coinbase and filed a motion to freeze the assets of Binance.US. SEC chief Gary Gensler said in an interview on Tuesday that Americans want just one digital currency: the US dollar.

"We don't need more digital currency," Gensler said. "We already have digital currency. It's called the US dollar. It's called the euro, or it's called the yen; they're all digital right now. We already have digital investments... We have not seen, over the centuries, that economies and the public need more than one way to move value," he added.

The similarity in the claims against Binance and Coinbase boils down to allegations of illegally trading securities. According to the SEC, cryptocurrencies such as Ethereum, Cardano, Solana and many others are securities. The argument further goes that it is illegal to provide staking since it is the prerogative of the securities market to generate passive income.

The lawsuits come amidst a blatantly weak regulatory framework and a lack of criteria for dividing cryptocurrencies into asset classes. Even the SEC itself does not have an understanding of how to do this, even after three years of ongoing litigation between the SEC and Ripple. In its defence, the cryptocurrency company is using a speech by one of the regulator's department heads, William Hinman, in which he recognises XRP and ETH as commodities.

There is no unanimity among regulators either, as the CFTC's lawsuit against Binance (filed in late March) calls ETH, BUSD and several other cryptocurrencies commodities. If cryptocurrencies are recognised as commodities, part of the SEC's claim against Binance and all charges against Coinbase would be unfounded.

All this points to one thing: regulators have launched a crusade against the crypto industry, backed by the Biden administration, and will push for significant restrictions on the features crypto exchanges offer. Similar to the covert restriction of banking services to undesirable companies in 2013, the current developments have been dubbed Chokepoint 2.0 by the community.

As Cardano developer Charles Hoskinson noted, the ultimate goal of the current agenda is to implement central bank digital currencies (CBDC) that would entail full control of every financial step.

(https://steemitimages.com/p/9vWp6aU4y8kwSZ9Gw15LFL3aMdhmgmBBFMpDJregpdP329dgfoKoEnQvQSXX6RSoNUj8gtvf9tfter8FofbYTf68jmycsz1qtk9Evqx5cHWiCGAC1Bbd3qhLiwGnm4vHJEk9v5DVqFDGDCJmt?format=match&mode=fit&width=640)

The SEC's attack led to an active withdrawal of coins to cold wallets. In the last 24 hours, net outflows from Binance exceeded $1 billion and $600 million from Coinbase. The total stock of Bitcoin on cryptocurrency exchanges reached a multi-year low of 2.15 million BTC.

(https://steemitimages.com/p/9vWp6aU4y8kwSZ9Gw15LFL3aMdhmgmBBFMpDJregpdP328D3YCPdVRiGmG6L7MoZuNdPePab9eRGHYvB3SH3tTWiuK34wpyo8dieoinW3GjRtXeeVeupCTcZ437k5Ya7ZhrzY2u4Fz3aXT2Cv?format=match&mode=fit&width=640)

There is rotation among cryptocurrencies, with trading volume in DeFi jumping 444% in the past 48 hours. Bitcoin managed to recoup its losses after the news and returned to the $27,000 mark.

(https://steemitimages.com/p/9vWp6aU4y8kwSZ9Gw15LFL3aMdhmgmBBFMpDJregpdP328yo8ViUhhDcdHz63YiyLutn5kQFKRMNKuwo5jnhVjuEtC9VxywYeu6P9NQ1sJFDK8ShzifmY5bR9fadaShDHon2gWvaGDgecq7m8?format=match&mode=fit&width=640)

The pressure on the crypto industry comes amid a record decline in the dollar's share of international reserves and settlements, as well as the US economy lying in a fragile balance between inflation and recession.


StormGain Analytical Group (https://stormgain.com/easy-start)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on June 09, 2023, 12:28:23 PM
Binance loses market share

The SEC filed a lawsuit against Binance. CEO Changpeng Zhao (CZ) has been issued a notice requiring him or his representative to appear in court within 21 days. The SEC has also asked the court to freeze funds (so far without withdrawal restrictions) in the US subsidiary's accounts because of the risk of assets slipping away and investors' risk of losing funds. This news shook the markets, and investors headed for the exits.

According to CoinDesk, yesterday morning, the exchange rate difference for leading instruments on Binance.US was as high as 6%. Bitcoin traded at $28,800 there, while it exchanged hands at just over $27,000 on other platforms.

(https://steemitimages.com/p/3jpR3paJ37V8JxyWvtbhvcm5k3roJwHBR4WTALx7XaoRovfD5w8fXpVbdJ2Ah94Fdc76XSvmMsxzbrPKtfhvvF7mM61WWJoAVdKJN12dRxm7oxS3HZxy6wQ1xPD29F4n5tJ9U?format=match&mode=fit&width=640)

This premium indicates an increased demand for the cryptocurrency for later withdrawal to cold wallets. Demand for Bitcoin, Ethereum and USDT was further fuelled by Binance.US's decision to stop trading for more than 90 trading pairs. Later, this list was shortened to 10 pairs. The crypto exchange also halted off-market trades.

(https://steemitimages.com/p/3jpR3paJ37V8JxyWvtbhvcm5k3roJwHBR4WTALx7XaoRovUak1tKgP3kj5R5o7fR1nGxxXV59NwH1zqwVZJJRWtP4QZmH4265reyXgDMHe9y3vvf7wUkahuN1VJTtsXF9wuT4?format=match&mode=fit&width=640)

Within a day of the lawsuit's announcement, net outflows from Binance exceeded $1 billion, of which $400 million came from BTC, $200 million were from ETH, and another $440 million were from stablecoins.

(https://steemitimages.com/p/3jpR3paJ37V8JxyWvtbhvcm5k3roJwHBR4WTALx7XaoRovZE1fCCrPduXqJunoDdmvVfnjiY3YZnswUVdJu2NAdxxBzgxnxrh6RKQnvrQJ447jPnAxWU1r6Aw8CPVK2o3ArNz?format=match&mode=fit&width=640)

Due to increased regulatory pressure (the CFTC sued Binance in March), the crypto exchange's stock declined in value by 11%, for a total drop of 43% in Q2. The negative trend will likely remain because of the significant client outflow from the US division.

(https://steemitimages.com/p/3jpR3paJ37V8JxyWvtbhvcm5k3roJwHBR4WTALx7XaoRovpDsfLFdFtDZPrszmizZm24jmzRrQQvAcYUrBHiuQ8o18GFAg6mVKLb28DWr1EZiwt2BPWCed4wA6ge9VDSjTA94?format=match&mode=fit&width=640)

Like Binance.US, Coinbase also received a notice that accused it of illegally dealing in securities. According to SEC Chairman Gary Gensler, all altcoins are securities, which is why crypto exchanges must have a securities market participant licence.

Coinbase and Robinhood have spoken of months of negotiations with the SEC over the past three years to obtain the necessary approval, but they still haven't heard back from the regulator. The criteria for dividing cryptocurrencies into securities and commodities haven't yet been disclosed.

The community thinks that these developments demonstrate an attempt by regulators to push the cryptocurrency industry to the margins of the financial system rather than developing regulations to integrate it fully.


StormGain Analytics Team (https://stormgain.com/easy-start)
(the cryptocurrency trading, exchange and storing platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on June 13, 2023, 11:53:40 AM
How the Fed is manipulating the cryptocurrency market

The cryptocurrency repressions by US regulators are leading to a shift in investment flows from the US to Asia. But the trend gained momentum a little earlier and has a direct correlation with the Fed's monetary policy.

The Covid-19 epidemic led to the emergence of easy money, as the zero key interest rates from March 2020 provided businesses with ultra-cheap loans that flowed into various sectors. The crypto industry has been no exception, with institutional investors investing $1 million or more from this year onwards becoming a key investment force.

(https://steemitimages.com/p/vM1pGHgNcyCXUWJECrZbvn1NMPj1oFGUo3gYfF3NNPRD9VdLBBWXFcoDxKn8sXc8CRnGS2oPKc8PNaHs7Zv89i7JbHjouDut4AEPR7xyBZ4sgK2P7k9kfaaQXHZynVG2Pf6aX5G?format=match&mode=fit&width=640)

Investments were directed into crypto funds, mining and various products. In January 2020, the US share of Bitcoin mining was only 3.5%. Two years later, it was 37.8%. The country's computing power has increased 19-fold during this time.

(https://steemitimages.com/p/vM1pGHgNcyCXUWJECrZbvn1NMPj1oFGUo3gYfF3NNPRD9ZvtVhcBdZfD8C7iqiJy8kTJaDyK9eKXrLVkdyfLpJBCk1teJJnAv3AmtB9c28AyYyJ17bheTYzTYquVwkmU7v8Ac3G?format=match&mode=fit&width=640)

In a fight against natural inflation, the Fed has turned the other way around, as it began to raise its key rate at a shocking pace in the second half of 2022. This was when an 11% drop in Bitcoin supply from the US was seen, with Asia stepping in to replace it.

(https://steemitimages.com/p/vM1pGHgNcyCXUWJECrZbvn1NMPj1oFGUo3gYfF3NNPRD9VytSytHQtQwB5LrNYfcakNHeVWQMCZ7wunZx18spNoyJFuUDmy4jcdU8xnFRUA6p8m5wX2HbFL3z6NrihRbeBHks66?format=match&mode=fit&width=640)

The cut to the easy money flow in 2022 affected projects with indirect financial management focused on attracting new participants. Terra (LUNA) was the first to get hit in May, followed by Celsius and FTX. The decline in confidence among market participants couldn't help but affect the overall capitalisation of the industry and the value of Bitcoin.

(https://steemitimages.com/p/vM1pGHgNcyCXUWJECrZbvn1NMPj1oFGUo3gYfF3NNPRD9Zv17YJNQvcDeWysinBo8zu5eAPuh6D8otBp4gG3mAX2apzan1AYQ3NocQAsToPuue8S93kTw8E9u83WDP7BaYZWotz?format=match&mode=fit&width=640)

Now, US regulators are tightening the screws, calling the cryptocurrency market the 'Wild West' while ignoring their own discrepancies. For example, the SEC considers Ethereum to be a security, filing a lawsuit against Coinbase in relation to that. However, the CFTC calls the very same cryptocurrency a commodity and has brought charges against Binance.

The Fed's role in pumping up the financial bubble has also not been addressed. Back in mid-2020, Coinbase CEO Brian Armstrong noted a surge in deposits after Covid-19 payouts in the United States after every adult received $1,000 plus $500 per child in April 2020.

This raises the question: would investor losses have been so significant if the Fed hadn't printed dollars so aggressively and if the regulators had worked promptly with legislators to develop and adopt regulations governing all aspects of the industry?

Instead, SEC Chairman Gary Gensler responded yesterday to reporters, defending the agency's repressive policy: "They [companies] may have made a calculated economic decision to take the risk of enforcement as the cost of doing business."


StormGain Analytical Group (https://stormgain.com/)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on June 14, 2023, 10:42:06 AM
Altcoins' troubles don't affect hodlers' mood

Last week, altcoins dropped by around 20%. Among the major projects, massive damage was taken by those the SEC declared securities in lawsuits against Binance and Coinbase. As a result of the legal action by the SEC, Solana is trading 29% lower, and Cardano has seen a 28% decline.

(https://steemitimages.com/p/D5zH9SyxCKd9GJ4T6rkBdeqZw1coQAaQyCUzUF4FozBvW7JhEaY7wkzC3Gfdrz4Wf4rnsPX78aPfpMv3LjErUtg6rJYqzJoSsEV4YW2G1ZfZFjUHAoDo4JCwbfLMkHN87tSmU2?format=match&mode=fit&width=640)

In one of his latest interviews, SEC Chairman Gary Gensler claimed that all altcoins are securities. This explains the broad decline in the market despite the narrow list of coins mentioned in lawsuits brought by the SEC and Bitcoin's resilience amidst current events.

Since Coinbase was sued, reserves in Ethereum have fallen by 8% or 291,000 ETH. Meanwhile, users' presence in Bitcoin and stablecoins has remained almost unchanged.

(https://steemitimages.com/p/D5zH9SyxCKd9GJ4T6rkBdeqZw1coQAaQyCUzUF4FozBvW8hmURHctYJpVTPdt4mnUcg1fTf28x9kP2Jy8WvG8CJNu3ea5nq8AtnRfpyFrfzL3icXybUcr2My5UMcDNBT71avCE?format=match&mode=fit&width=640)

The bad news resulted in higher interactions with the affected crypto exchanges. The outflow and inflow have grown by 70% to $845 million a month, with the volume of outflow 10% higher than that of inflow. However, the figures aren't that impressive. Total transfer volume remains at cyclical lows, with a turnover of $2.9 billion a day.

(https://steemitimages.com/p/D5zH9SyxCKd9GJ4T6rkBdeqZw1coQAaQyCUzUF4FozBvW8YD9MVFL7nJ1KgWwwY1bj7eiZSMQDMESdr9az5CLrD2XAKjtksrbQbbszidWpjUvnWL7HZRPe6bAxrkNx4wrDMCV4?format=match&mode=fit&width=640)

The main reaction to the negative developments came from short-term holders (STHs), whose share of coin inflows to cryptocurrencies jumped to 76.4%. STHs are primarily represented by traders trying to profit from the short-term growth or decline of assets. The share of interexchange transfers fell to 21.7%, while long-term holders (LTH) showed little to no reaction (1.9%).

(https://steemitimages.com/p/D5zH9SyxCKd9GJ4T6rkBdeqZw1coQAaQyCUzUF4FozBvW7UeXNzgZ3wktL7JYFHAcotyoA6G6czphpMVF3TwUXptHSqrGdEWJagDjDGQF5GvgTS7j4t7WF7uARs29sqydX2q5x?format=match&mode=fit&width=640)

Since STHs held positions for less than six months, they've mostly exited at the same prices they bought the cryptocurrency (the so-called breakeven level). This is clearly demonstrated by the realised profit and loss indicator remaining at minimum levels.

(https://steemitimages.com/p/D5zH9SyxCKd9GJ4T6rkBdeqZw1coQAaQyCUzUF4FozBvW6n1DNDJ48wSyiyAt7XTEew7r3caUCqXfeQbguz34jMdGjvoW9TbMp8f5QWvwXdJVtrsBCBvddBnPToGzJwQwuiQzS?format=match&mode=fit&width=640)

Traders have strongly reacted to negative developments by getting rid of some altcoins. That said, investors and long-term hodlers (LTHs) remained indifferent to the situation.

First, recognising altcoins as securities via lawsuits is a difficult task, as proved by the SEC's lawsuit against Ripple that's been in motion since 2020. XRP hasn't even participated in the latest sale since some participants are absolutely certain that 2023 will be a good year for the company.

Second, the court case is likely to be heavily delayed, and risky assets could get a boost as early as this week if the Fed pauses its rate hike tomorrow. For the last year, the US dollar has been losing positions on the international stage, showing a decline in global reserves and payments. Some analysts consider this chaotic tightening of crypto regulations to be a sign of desperation.


StormGain Analytical Group (https://stormgain.com/easy-start)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on June 15, 2023, 01:15:47 PM
Traders bet on Binance Coin's (BNB) decline

Lawsuits brought by the SEC against Coinbase and Binance have led to the collapse of altcoins, as SEC Chairman Gary Gensler is only willing to consider Bitcoin a commodity. In his view, other coins are securities that crypto exchanges must be licensed to operate.

Because of the wave of sell-offs, the share of altcoins, excluding Ethereum and stablecoins, has fallen below 20%. Many of them have collapsed by over 80% from their all-time highs.

(https://steemitimages.com/p/99pyU5Ga1kwqSXWA2evTexn6YzPHotJF8R85JZsErvtTWXob3iBKJCp87PGHgUX1Fk7Gyvw5ERRibGrCabmuHG3ijWr9LKntZcHBdRVzeZBTRezy2ECebhfBsrYX8xcKxa?format=match&mode=fit&width=640)

Challenging times await BNB investors: a wide range of allegations have been made against Binance, including that it deliberately circumvented restrictions when dealing with US customers, commingled funds and engaged in market manipulation.

According to former SEC Head John Reid Stark, the Department of Justice will soon join the prosecution process. This is evidenced by the regulator's application to freeze all accounts of the US unit in the absence of money laundering and tax evasion charges.

Traders are already buying rumours, with open interest in BNB reaching 42%, while most altcoins have declined after a wave of sell-offs.

(https://steemitimages.com/p/99pyU5Ga1kwqSXWA2evTexn6YzPHotJF8R85JZsErvtTWXrvvn9E4r6JyGV4mkkzJTwL9vstjuqHcBpN1nvfq3SdPz9SP3vso9TW5WMbBP31gMjNfQm717YmT6TgFCU2yk?format=match&mode=fit&width=640)

The funding rate collapsed to -0.08% from neutral in early June. A negative rate indicates the significant dominance in futures contract trading of bears, who are forced to pay a premium to the few buyers.

(https://steemitimages.com/p/99pyU5Ga1kwqSXWA2evTexn6YzPHotJF8R85JZsErvtTWYDQSTtyiHQtMtc6NrcFJrkdRQafJkcTt8p2rG5EAeB1n5CqE5qhbeK2CqbvncZw7ZfvrZxtctH16X5NNTnDCr?format=match&mode=fit&width=640)

BNB is trading at a 17% discount after the charges but is still among the top 5 coins by market capitalisation.

(https://steemitimages.com/p/99pyU5Ga1kwqSXWA2evTexn6YzPHotJF8R85JZsErvtTWXrv8LqqQwQYNHpuP6BCoMPCPWm5L31By3xMWc8ze72SfQkZLiuY2D1fnEHdseJZyLNSDDETGWk5cghbcJZeyL?format=match&mode=fit&width=640)

However, if the Department of Justice were to file charges and freeze the US unit's accounts, it would deal a further blow to BNB's position. Given these circumstances, traders ramped up sales. Some have been overzealous with leverage, which has already led to a forced closure of several bearish positions and a short squeeze. BNB saw the fourth-most liquidated positions in the last 24 hours (third-most if only sellers are taken into account).

(https://steemitimages.com/p/99pyU5Ga1kwqSXWA2evTexn6YzPHotJF8R85JZsErvtTWXjfTxeusBtBbyNmttTeyDv9HW2Ty44TMkVArJXqd7YSk4CnK8Aj1GLt2MMppg2G2xvAJrmKBWZGsW5W4DT26r?format=match&mode=fit&width=640)

However, the outlook for BNB remains negative, and the likelihood of further price declines remains high. The SEC has charged both Binance's US unit and the company's CEO, Changpeng Zhao.


StormGain Analytical Group (https://stormgain.com/easy-start)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on June 16, 2023, 12:09:58 PM
MicroStrategy CEO: regulators will cause Bitcoin to rise to $250,000

MicroStrategy is the largest public holder of Bitcoin, possessing a reserve of 140,000 coins. This now amounts to $3.5 billion and accounts for 0.7% of the total supply.

(https://steemitimages.com/p/2N61tyyncFaFVtpM8rCsJzDgecVMtkz4jpzBsszXjhqan9vSdw1WLzC4f2nyEvDcUc9c3Dxdnqpmbp2s2yRE7VeEA7SpohTGn876DJfBfa1etF2yw8XnjHErJzEKhDLGUTZ6byxHRBpz?format=match&mode=fit&width=640)

MicroStrategy CEO Michael Saylor believes that the current changes in cryptocurrency regulation will increase market transparency and Bitcoin's dominance.

Instead of trying to break down cryptocurrencies into asset classes through clearly defined criteria, the SEC chairman is willing to label all altcoins as securities. This has already led to Bitcoin's share of the cryptocurrency market increasing from 40% to 47% in 2023.

(https://steemitimages.com/p/2N61tyyncFaFVtpM8rCsJzDgecVMtkz4jpzBsszXjhqan9uJTWUZoqi9BgL2EhoEpyRNSvcmveiHDnDmgYjdUM4waUp72Ja964nicFZ6AZQ92MZRkUJPC2CdmwZndaSaWcTHwsCFZt5L?format=match&mode=fit&width=640)

As only Bitcoin has the unambiguous status of being a commodity, crypto exchanges and other market players will have to rely on it for the most part. The increase in the transparency of regulations will push institutional actors to take more active actions. But for now, however, they're doing the opposite; they've cut their presence in Bitcoin funds, with an outflow exceeding $400 million in eight weeks.

(https://steemitimages.com/p/2N61tyyncFaFVtpM8rCsJzDgecVMtkz4jpzBsszXjhqan9wcQaYGK8YGsZBxUWTzJtoqnDrbTf73RoWuJk19RXkU2u3CNk8jU11mGXEdKGmvh9F1p8oH9qJkYKteptgx3bsg3DGZxmUa?format=match&mode=fit&width=640)

The advent of a proper regulatory framework will also pave the way for a long-awaited Bitcoin ETF in the US instead of a Bitcoin futures ETF (we covered the shortcomings of the latter here).

According to Michael Saylor, Bitcoin's further capture of market share would see its percentage of the cryptocurrency field grow to 80% and its price rise to $250,000.

(https://steemitimages.com/p/2N61tyyncFaFVtpM8rCsJzDgecVMtkz4jpzBsszXjhqan9uGEF7p9zemMxs3WSXi7i1gFRQyt92HgELAot7LYBM5ghWM2noZQAtURCZ75YPCdvNc5ZL8YLLEsYRfby1xrmRQHpzA8Esx?format=match&mode=fit&width=640)

A more down-to-earth estimate for the next 12 months can be obtained by extrapolating cycles starting from major historical highs.

(https://steemitimages.com/p/2N61tyyncFaFVtpM8rCsJzDgecVMtkz4jpzBsszXjhqan9uHejphAiiXZHcDUP9AyXhSmPfp787QYSDWY19TXxsxV2UYHrFDE3ZM7ZNRNBp3fQoSDngdGmiSbb9P1FY1oRjcMC66T4SJ?format=match&mode=fit&width=640)

The new cycle largely repeats previous ones, suggesting growth by mid-2024 of 50-100% on the current price to reach the $38,000 to $50,000 range. Saylor didn't specify by which year he expects the price to reach $250,000.


StormGain Analytical Group (https://stormgain.com/easy-start)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on June 20, 2023, 01:42:07 PM
Celsius' sell-off will hurt altcoins

By early 2022, Celsius was one of the largest lenders in the cryptocurrency market, operating with $12 billion in assets under management and $8 billion in loans. Investors were attracted to Celsius by the promised yield of 6% when investing in Bitcoin and up to 17% in other cryptocurrencies.

Problems emerged with the crash of Terra in May 2022, the project responsible for issuing LUNA and the UST stablecoin (at the time, the third-largest stablecoin, with a capitalisation of $20 billion). UST was an algorithmic stablecoin (with little or no backup collateral) directly linked to LUNA's price. Staking in UST was encouraged by yields of up to 20%. The decline in new customer inflows in the spring couldn't ensure consistency of payouts. And so UST and LUNA went into a deep downward dive.

(https://steemitimages.com/p/cyxkEVqiiLy2ofdgrJNxeZC3WCHPBwR7MjUDzY4kBNr81MTuenKeCsK37orMg1XumqmnMtFv7nVD3KnAYSs6zP3Xhg9SfjLsMSSVd6TEdzmo9UKRAkNWKBA4dccZaGyvTiE?format=match&mode=fit&width=640)

It turned out that Celsius was linked through investments with Terra and a bunch of other collapsed projects, like the hedge fund 3AC. It later emerged that management was trying to win back the cryptocurrency market using client funds and margin trading. But it only got worse. The company filed for bankruptcy on 13 July, with an estimated $1.2 billion deficit and owing a total of $4.7 billion to its customers.

Investors' problems are further complicated by the fact that the bulk of the assets were denominated in CEL's token, which collapsed from $4 in early 2022 to the current $0.10.

(https://steemitimages.com/p/cyxkEVqiiLy2ofdgrJNxeZC3WCHPBwR7MjUDzY4kBNr81RfbCRGFEGxMDCEx46Nv5eU8sgbKYbizygaGGJjnfemZiTpdV9iyJbVhUNs69DEEgnxQWNaNVABWK79HBF8ebPk?format=match&mode=fit&width=640)

In addition to CEL, its assets still contain various other altcoins worth $220 million. Polygon's MATIC is second to CEL in terms of volume, coming in at $52 million.

On 1 July, the company planned to convert all available altcoins to Bitcoin and Ethereum, supposedly because of the SEC tightening its grip.

(https://steemitimages.com/p/cyxkEVqiiLy2ofdgrJNxeZC3WCHPBwR7MjUDzY4kBNr81LSp3CTengmGaKuVJcXHA8PWJfMQQ2SunYnWKrbHhGtnXUnasdrAJoKNSAMG95HFgoDNjM9h2EqqXAyLuRM1HsL?format=match&mode=fit&width=640)

The plan must be approved during a bankruptcy court hearing, and not everyone involved in the process agrees with it. If the decision is affirmative, altcoins will face renewed pressure in July.


StormGain Analytical Group (https://stormgain.com/easy-start)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on June 21, 2023, 01:59:46 PM
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Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on June 23, 2023, 01:15:52 PM
Bitcoin is increasingly dominating the crypto market

Despite Bitcoin's market price fluctuating sluggishly just above $26,000 in recent days and the asset's market cap coming in at just over $500 billion, the asset's increasing market dominance shows market participants' interest in the digital currency. This indicator set its two-year high, reaching a market share of 50%.

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The news that BlackRock, which manages around $9 trillion in assets, has filed an application to register a Bitcoin spot exchange-traded fund (ETF) has sparked interest in Bitcoin among market participants. It would make it easier for institutional investors, including pension funds, to own cryptocurrencies. This is a very good signal for Bitcoin, indicating a growing interest in it from serious financial institutions.

Another factor behind Bitcoin's growing market dominance has been a decline in investor interest in altcoins amid recent lawsuits brought against them by the US SEC. SEO chief Gary Gensler previously declared that he considers all cryptocurrencies except Bitcoin to be securities. However, he categorises Bitcoin as a commodity, which is a significant exception and puts the currency in a privileged position.

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Such statements from the SEC official are critical for Ethereum, the second-most-popular and market-dominating digital currency (with a share of 20%).

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After all, once it switches to the Proof-of-Stake algorithm, it falls well within the US regulator's definition of a security. The situation for this asset will become even more challenging after the launch of the EIP-1559 upgrade, which will result in the network stopping token burning and adding to its value.

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Bitcoin could gain even more market share in the near future to push it over 50%. The other cryptocurrencies, on the other hand, continue to lose weight.


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Post by: stormgain on June 26, 2023, 11:52:08 AM
Ethereum may be recognised as a commodity like Bitcoin

US authorities may make an exception for the digital currency Ethereum in order to protect investors' interests and classify it as a commodity rather than a security, experts at US investment bank JPMorgan believe.

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They reached these conclusions after the litigation between the SEC and Ripple, a case that started back in 2020, resulted in the release of the "Hinman documents".

They reveal the position of William Hinman, the former head of the SEC's Division of Corporation Finance, that he shared in 2018. At the time, he said that neither Bitcoin nor Ethereum could be considered securities.

This thesis has led experts at JPMorgan to believe that the regulator will make an exception for Ethereum and not include it in the list of assets that qualify as securities. In this way, the asset would avoid the strict regulation it would be subject to under US law.

However, in early 2023, current SEC chief Gary Gensler classified only Bitcoin as a commodity and once again reiterated his position on the issue in June. In doing so, he declined to answer a question about Ethereum's status.

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ETH is currently valued at just over $1,840 on the market and is the second-largest cryptocurrency by market capitalisation among all digital assets in the world at over $200 billion.

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Of course, the possibility of Ethereum joining Bitcoin and avoiding the risk of being recognised as a security opens up very good prospects for this digital asset. As investor interest in the token increases, it could rise to the psychological $2,000 mark and subsequently even higher than that.

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Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on June 28, 2023, 12:07:54 PM
Americans are buying up Bitcoin

Bitcoin posted a nice 11% gain in June, mainly driven by interest from US traders. Unlike European and Asian players, Americans have been generating steady demand throughout the month, according to analyst agency Glassnode.

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Dividing crypto exchanges by region and analysing their inflows and outflows show a clearer picture. Glassnode classified Coinbase, Kraken and Gemini as the US region and Binance, OKX and Huobi as the Asian region.

As Bitcoin's price rose in 2023, Asian market players poured coins into cryptocurrency exchanges (primarily to sell them). During this time, Americans remained neutral. In June, activity in Asia dried up, while Americans showed an outflow of funds (predominantly to cold wallets). This outflow has been brought on by the anticipation of rising prices and the risk of funds in Binance being frozen due to legal action brought by the SEC.

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Institutional investors showed a surge of interest in Bitcoin in the past week and have invested a record amount over the past year.

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The excitement stems from a mass of applications to the SEC to launch Bitcoin spot ETFs. Even BlackRock, the world's largest investment company by assets under management, is included in this group. Yesterday, we talked about why optimism surrounding this news may be premature.

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Institutional investors from Europe were the most active, showing a weekly inflow of $85.5 million into cryptocurrency funds. Investors from the US invested $58.9 million. One factor holding back US players is the lack of Bitcoin spot ETFs, while futures ETFs are eating up some of the profits as they move from contract to contract (a loss from a phenomenon known as contango).

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Interest in Bitcoin is fuelled both by its good start in 2023 and by anticipation of the first Bitcoin spot ETF in the US. Even regulators' lawsuits against Binance, Coinbase and a number of other players haven't cooled US participants' interest in cryptocurrencies.


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Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on June 29, 2023, 01:34:03 PM
Mining is more sustainable than the vast majority of industries

A widely used assessment of Bitcoin mining's sustainability claims that 37.1% of the energy it uses is zero-emission. The Bitcoin Mining Council (BMC) made a more accurate calculation that arrived at 52.6%. After a joint discussion of the methodology, the Cambridge Centre for Alternative Finance (CCAF), which is responsible for the first analysis, agreed with the BMC's estimate.

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If mining were to rely 100% on the public grid, CCAF's estimate of 37.1% zero-emission energy would be correct, as humanity gets most of its energy from burning minerals. Of those sources, coal continues to lead, with a share of 36.7%.

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Mining companies strive to optimise processes as much as possible and to obtain the cheapest energy. This is only achievable with zero-emission energy sources. These include solar, wind, geothermal, nuclear, hydropower and flaring associated gasses (which would otherwise be burnt with no additional benefit).

14.3% of the Bitcoin network's hashrate is provided by mining companies powered by near-zero-emission energy sources. We have already covered the lowest electricity rate in the US, $0.02 per kWh, which TeraWulf achieved through a direct connection to a nuclear power plant. Northern Data is leading in Europe with a rate of $0.03 from renewable energy sources.

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The trend towards green energy sources is gaining momentum. For example, one of the largest miners, Marathon, recently moved its 100 MW data centre from a coal-fired power plant to a wind farm in Texas in January.

BMC calculates that, on average, the Bitcoin network becomes 2% greener each year.

(https://steemitimages.com/p/D5zH9SyxCKd9GJ4T6rkBdeqZw1coQAaQyCUzUF4FozBvW8i2Mi2wFJgJvQ1E7fZ5BoGkZ7pd3vq2xqSxJFt5BcA7snnm8ZEUtQcN7FA7wgh4QFmjr3RmkjNXM177L3U9jAkvuc?format=match&mode=fit&width=640)

The green agenda is crucial for mining, as a number of conservative politicians are pushing bills to restrict or further tax the industry in the name of environmental concern.

(https://steemitimages.com/p/D5zH9SyxCKd9GJ4T6rkBdeqZw1coQAaQyCUzUF4FozBvW7qmGi9TP6FfZoiLzWSbpTVKpmTBeE9CvdXKxM37boW68a1nLJoEqsZsrwUFknFUvJAe9PaSHM35FsEkcXFy6d1TZY?format=match&mode=fit&width=640)

High sustainability increases Bitcoin's investment appeal and removes a key advantage among altcoins on PoS blockchains.


StormGain Analytical Group (https://stormgain.com/easy-start)
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Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on July 03, 2023, 11:10:18 AM
Miners selling record volumes of Bitcoin

After a pretty disastrous 2022 when miners were forced to switch from a holding strategy to a sell-off of their strategic reserves, Bitcoin reaching a key psychological level can be viewed as a smashing success. Bitcoin's passing the $30,000 barrier last week incited crypto miners to send record volumes of coins to exchanges at a total value of $128 million.

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Miners are concerned that a price reversal from this key level could be impending due to several negative factors, including harsher crypto regulation in certain countries and the legal action taken against crypto exchanges in the US. What's more, the average cost of mining continues to lead prices on account of the doubling of calculation difficulty over the last 18 months.

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That said, Bitcoin will still be able to avoid downward pressure, even if all the coins sent by miners to exchanges are cashed out.

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And it's all down to growing institutional demand. Thus, June saw investments increase by 70% YoY to reach $33 billion of assets under management (AUM) by crypto investment funds.

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What's more, a single major public holder, MicroStrategy, bought 12,333 BTC worth a total of $347 million over the last two months. The company now holds 152,333 BTC, at an average price of $29,668 per coin. Q1 2023 was the first profitable quarter MicroStrategy has had since 2020.

Interest in the cryptocurrency has hotted up significantly following a raft of new spot Bitcoin ETF applications to the SEC. The applicants include one of the biggest investment firms in the world in terms of assets under management, Blackrock. According to several experts, the presence of such a major player at the table will only increase the likelihood of the application being approved.

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If the fund does go ahead, Bitcoin is likely to be met with a new wave of institutional demand. Traders are already buying the rumour, which has been reflected in a higher overnight rate for perpetual futures since the news was released.


StormGain Analytical Group (https://stormgain.com/easy-start)
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Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on July 04, 2023, 01:26:10 PM
The altcoins facing a tough time in July

Despite the negative agenda from regulators and a series of lawsuits against market participants, June marked a month of growth for cryptocurrencies, with the total capitalisation rising 5% to $1.24 trillion.

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Bitcoin Cash (BCH) returned impressive figures, up 160%. From amongst the top ten coins, Litecoin soared by 20%.

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Nevertheless, regulators (primarily the SEC) have had a significant impact on the revaluation of coins. The aforementioned BCH and Litecoin both received a significant boost in June from the launch of the EDX Markets exchange for institutional investors in the USA. When launching the service, EDX was keen to emphasise that its service works with cryptocurrencies against which the SEC has no complaints: Bitcoin, Litecoin, BCH, and Ethereum. Despite complaints against staking, Ethereum was not classified as a security in the lawsuits.

But amongst the big projects that have come under fire from the regulator are Solana, Cardano and Polygon. They were labelled as securities, which led to negative results for the month of June.

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From the looks of things, they won't fare any better in July either. Firstly, because of the SEC's stance, market participants are turning their backs on the coins in question. US-registered Revolut, for example, notified its customers on June 29 of a ban on the purchase of Solana, Cardano, and Polygon. On September 18, there will be a forced sale of these coins which remain in customers' accounts. Similar steps had already been taken by Robinhood, eToro, and Bakkt.

Secondly, on June 30, the court allowed Celsius to start converting altcoins into Bitcoin and Ethereum, something we warned about in mid-June. MATIC (Polygon) is the second one after Celcius, facing the most pressure due to the sell-off of the CEL token  - it owns 90 million coins worth $61m.

Relative to the $6.4bn capitalisation, this amount might seem insignificant, but coupled with the negative news backdrop, an increase in supply does not bode well for MATIC. In addition to MATIC, Celsius also has 161,000 SOL (Solana) worth $31m and 103 million ADA (Cardano) worth $30m.


StormGain Analytical Group (https://stormgain.com/easy-start)
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Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on July 07, 2023, 01:37:36 PM
Bitcoin's cyclicity: $1m in 2026

Bitcoin remains committed to a four-year cycle, which resonates with the halving where the profits from block mining are halved in value. An illustrative radial chart was presented by an analyst under the nickname "Root". Going round in four-year cycles, the price forms highs and lows in the same sectors of the cycle. Having hit bottom in 2023, Bitcoin is expected to reach $1m in 2026.

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The coming bull market is indicated not only by mathematical extrapolation, but also by shifts in macroeconomics. We covered the direct impact of monetary policy in the article "How the Fed is manipulating the crypto market". This summer, the regulator is preparing to give the final chord in a cycle of key rate hikes with a reversal in 2024. After which, risky assets (in the absence of a deep recession in the economy) are set to experience an influx of investment.

(https://steemitimages.com/p/7258xSVeJbKkzXhyseBP4PYz11eBDT8sW2oR1a4vfVFS6HtopdkitpeFBy3kh7EpUfd4nF3JT57PBiqyXuf1Stupj6yU5KwRuh25qK7jJTBvh5nx82FGFseNAcztMXZn9WPmfmRfB1aLN?format=match&mode=fit&width=640)

Institutional investors and fund managers are already showing appetite for risk. The SEC was inundated with new applications for Bitcoin ETFs in June. The market sharks do not want to miss out on the coming bull cycle. Among the applicants, Black Rock, the world's largest asset management investment company, is worth mentioning. Note: The SEC flagged up shortcomings in the applications and companies have already submitted redacted versions.

ETFs on futures contracts and other exchange-traded funds in other countries collectively also saw inflows for the second week in a row. This contrasts strongly with the apathy reflected in the first half of the year.

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Accumulation sentiment among long-term holders has reached a new historic high of 13.4m BTC, with cryptocurrency exchanges recording a decline in supply. Investors are holding on to the coins in anticipation of further price growth.

(https://steemitimages.com/p/7258xSVeJbKkzXhyseBP4PYz11eBDT8sW2oR1a4vfVFS6HrUgKPxeW4vnEH9pNJtMiGDV7CV8unLbUZKrPMqLZN78eCcD7Lz4rXvbQ54WDCouTW5xhyTKSMr1tFsW9GtYNBuRr3pto374?format=match&mode=fit&width=640)

Another halving will take place next year, which traditionally has a stimulating effect on BTC price. This, combined with the Fed's rate cut, will give a strong boost to Bitcoin.

(https://steemitimages.com/p/7258xSVeJbKkzXhyseBP4PYz11eBDT8sW2oR1a4vfVFS6JLLz8r2VLTy45Zy9zq8P3pF9Hb8ArynYMw4ywAAgDeU2zz6C6CKH62u5ZXxjZ7XoQyV739MaGqdu98ue8FXqgx8ohyzHimAe?format=match&mode=fit&width=640)

However, it's worth bearing in mind that cyclical models do not guarantee anything and any predictions should be treated with a healthy dose of scepticism.


StormGain Analytical Group (https://stormgain.com/easy-start)
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Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on July 11, 2023, 01:24:00 PM
Crypto industry employment report

How many people are working in this field? What is the capitalisation of the companies rather than the tokens? Which region is the leader in employment? Detailed answers to these questions were prepared by the analytical agency K33 Research.

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Today, the crypto industry comprises 10,000 companies with a total estimated value of $180 billion. At its peak, the number of employees reached 211,000 in 2021, though the industry now employs 188,000.

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A distinctive feature of the crypto industry is the high proportion of employees working remotely, all around the world, without being tied to the company's headquarters. For example, the largest crypto exchange, Binance, is based in Malta, yet the majority of its employees work out of Nigeria.

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When it comes to the industry as a whole, the largest number of those employed by the crypto industry reside in Asian countries (including Australia). After China's regulatory tightening, leadership in the region has shifted to India. Globally, however, India is in third place at 7% after the US (29%) and the UK (24%).

(https://steemitimages.com/p/JvFFVmatwWHRfvmtd53nmEJ94xpKydwmbSC5H5svBACH81iiNjw7zk8RNi2vT1AaWnRN4GpYXdaM6pHWHR56NL3XHtghPKbsKKSi5oV8sidaqZFMhnveXUJSPAssjuoHGKTVHpXCYv?format=match&mode=fit&width=640)

By line of business, the largest number of people are employed in companies focused on trade and investment services. The NFT sector, on the other hand, is among the outsiders since turnover has fallen 90% from historic highs.

(https://steemitimages.com/p/JvFFVmatwWHRfvmtd53nmEJ94xpKydwmbSC5H5svBACH7z1EsF7VTAtYtGoCRgfCehiaqbjeTT7zyPa9SqwFX1HmzRAg5zupgFPtTgBRMKTCbXGoxAHceucYgP3VyPokqf1tZHEaNz?format=match&mode=fit&width=640)

In general, however, the crypto industry job market correlates with the overall capitalisation of cryptocurrencies. In periods of growth, companies expand and increase staff. When a crisis strikes, they reduce their workforce.

(https://steemitimages.com/p/JvFFVmatwWHRfvmtd53nmEJ94xpKydwmbSC5H5svBACH81TbhvvMo9C62qD4XVxEfQ5QxZNs7t6gLrcVmUa3DZLomrXn9Dmn4XjGny8xUiRGsHMV9jmxVN26PwGrFd7KmcjDvfHMRg?format=match&mode=fit&width=640)

Market participants are now preparing for a new bullish cycle, as evidenced by the growth of institutional interest and the approaching reversal of the Fed's monetary policy. This will eventually affect the job market, as well, with the total number of employees in the crypto industry capable of hitting 300,000 by 2025.


StormGain Analytical Group (https://stormgain.com/easy-start)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on July 14, 2023, 03:23:20 PM
Bitcoin under pressure: Miners, Mt.Gox and the US government

Yesterday, most financial instruments rose against the US dollar amid new inflation data predicting that the Fed will soon pass on raising interest rates and change its monetary policy stance. Price growth in the US has reached the central bank's target level of between 2.0% and 2.5%.

(https://steemitimages.com/p/54TLbcUcnRm3sWQK3HKkuAMedF1JSX7yKgEqYjnyTKPwrcFc6NXjsLQx3JcZdFRpuxGSZ7Z4HRRfVqrQqsJGWiqxcyHZK5bzaA66UVUzVrh8GsHQtHCpxPFL9xPVJAjnfF3r68iAJ?format=match&mode=fit&width=640)

Bitcoin continued to trade in the range, though it was curbed by some negative factors.

(https://steemitimages.com/p/54TLbcUcnRm3sWQK3HKkuAMedF1JSX7yKgEqYjnyTKPwrcPuXDU2TLh1vN4MYL7xKhfj4oa2KgyUqiEnWTJtt83ZBoe9fw5S9DnPui6JMdcivRgsRKaCe4GDn93RVyb94a6EBbWiz?format=match&mode=fit&width=640)

Because of the mining difficulty, the daily mining profit lingers near the all-time low of $0.05 per terahash of capacity. The indicator is currently $0.07, though it reached $0.40 in Autumn 2021.

(https://steemitimages.com/p/54TLbcUcnRm3sWQK3HKkuAMedF1JSX7yKgEqYjnyTKPwrcV4EtFfjc6tj14FC9M5rTDzgxUDPnDcfbdLBgNWpVQ8zBBK3RWBv7erHzWiNGk3QvKfm6ynZuuEgVxfKE8pXwzGMeFHg?format=match&mode=fit&width=640)

Low profitability and concerns about the price dropping again are pushing miners to sell freshly mined coins and accumulated reserves. According to Bitcoin Magazine, miners have moved a six-year high volume of BTC stock to exchanges.

(https://steemitimages.com/p/54TLbcUcnRm3sWQK3HKkuAMedF1JSX7yKgEqYjnyTKPwrcFY6T8CYWxnsqVnYpN7wjazBXYzShfUmDmQhutRQPhyNyvKKHMGCH1GxKWHQV8RDT6PEdhc2LFmJzfM4TFF3yYArC2zr?format=match&mode=fit&width=640)

The upcoming payouts to the clients of the bankrupted Mt.Gox are another restraining factor on BTC's price. The amounts are due to be paid by the end of October. Mt.Gox has kept around 135,900 BTC in its account, which amounts to a whopping $4.8 billion at current prices.

Some analysts don't think this sum may significantly affect the market, but they still highlight the event's unique nature and possible price pressure from speculation based on the news.

The same can be applied to the latest news on Bitcoin being moved from the US government's accounts. Reportedly, they were credited to the exchange's account to then be sold. Three transactions were conducted that totalled $300 million.

(https://steemitimages.com/p/54TLbcUcnRm3sWQK3HKkuAMedF1JSX7yKgEqYjnyTKPwrcuA7zx1zqjdB2ncvYaioswoqMJyYtyCFQusDv3sCsU7jGndd2VwxDnzswxdPyEuCm2uhTAeQPXg4oGuSb8dwWHHiu3TC?format=match&mode=fit&width=640)

The abovementioned factors are raining on Bitcoin's parade but can't create long-term price pressure.

- Miners' reserves are exhausted, with daily mining amounts reaching 900 BTC, creating $800 million of pressure.
- According to data, the US government is selling off over 10,000 BTC a quarter, the equivalent of 3,000 BTC or $90 million a month.
- Mt.Gox will pay out $4.8 billion, but the payouts can be done in cryptocurrency upon request. That means that not all of the 135,900 BTC will end up on exchanges to be converted into fiat or stablecoins.

Bitcoin's daily trading amount exceeds $12 billion. And the market can easily handle the abovementioned transactions if they're not performed all at once.


StormGain Analytical Group (https://stormgain.com/easy-start)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on July 18, 2023, 03:41:38 PM
Ripple's victory may not last

Last week, XRP's price jumped 70% after a judge refused to recognise token trading on cryptocurrency exchanges as securities transactions. US platforms immediately announced the return of XRP trading pairs. Soon after, altcoins that the US Securities and Exchange Commission (SEC) had previously called securities recovered their June losses.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSg8DiZU5JyvgfuHpwFojxv8nqDrwhom2fLUP9N4NVb4Nuo7QUQUFBDsbHz1VGd7Rs9Vxa?format=match&mode=fit&width=640)

Demand for XRP trading has been so strong these days that some cryptocurrency exchanges have found it difficult to conduct transactions, and the token is still leading by a wide margin in terms of liquidated positions per day.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYShdqPMRSnWBbN1vbQmHYvS9W6KsYpu9UQrdWNE42JiPTZaWceBKExJEkM58qWxPvroRH8?format=match&mode=fit&width=640)

At the same time, industry experts point to clear contradictions in the court ruling and the risk of it being overturned on appeal. It's all about the dual approach to determining the status of XRP, which, according to the judge, is a security when sold to institutional investors and isn't one when sold to retail investors.

John Reed Stark, who chaired the SEC Office of Internet Enforcement for 11 years, criticised the court ruling: "Securities laws were specifically designed to protect individual investors, based on the idea that they can't fend for themselves... The Ripple decision turns this notion on its head."

As Stark explains, institutional investors can count on the SEC's legal protection when buying a token. If the issuer violates the rules, it faces fines of up to and including cancellation of its licence. If individual investors purchase the same token, the issuer isn't liable for financial wrongdoing.

Moreover, the court's designation of 'programmatic sales' as a separate asset subclass will lead to the emergence and spread of sub-tokens on unregulated crypto platforms. Investors will find themselves defenceless. For this reason, the SEC is obliged to appeal, Stark believes.

Attorney Bryan Jacoutot agrees with Stark but also suggests keeping an eye on the upcoming trial regarding the illegal sale of nearly $1 billion worth of tokens to institutional investors. Because XRP is treated as a security in this case, Ripple faces federal law violation charges and multi-million dollar fines.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYStDnx54WbGjVFfuo85Q9RuExC4SDdsTqGysjqPjmUUqvA7aUroUyMsdpt6F1Qt1o81nLN?format=match&mode=fit&width=640)

Ripple investors shouldn't celebrate this early and should be cautious in their investment decisions. The SEC appeal and the hearing of the 'XRP sale to institutional investors' case could hurt the coin's value.


StormGain Analytical Group (https://stormgain.com/easy-start)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on July 19, 2023, 10:58:25 AM
Three metrics of Bitcoin's sustainable demand

Bitcoin's continued consolidation around the $30,000 level over the past month is raising more and more questions about the price direction in the near future. Let's look at three metrics demonstrating strong demand for cryptocurrency, which could eventually lead to a price increase.

Realised cap (RC)

RC is calculated by both the average price and the price of the last movement of each coin. When the indicator rises, it shows that coins are being bought at increasingly higher prices and that demand is increasing. In 2023, RC amounted to $396 billion, demonstrating sustainable, though not explosive, growth after reaching the local bottom.

(https://steemitimages.com/p/32FTXiZsHoAW6noHJDhrg3W8ZKHVFSsLYM859aTDCF8iErFow5oqunGTRZc4dmispqwxfya5rYDYFZe1MV1MkZH4n22avJy5oCA2iD2zhieYFiJqD9hQxKiDefyNgwg6yEaKJjNsfdVU9wZY?format=match&mode=fit&width=640)

For more clarity, let's look at the realised cap drawdown indicator. The 2022 collapse was the second largest, and the drawdown reached 18.8%. Cap recovery is proceeding at the same pace as in previous cycles at a rate of 0.1% per day.

(https://steemitimages.com/p/32FTXiZsHoAW6noHJDhrg3W8ZKHVFSsLYM859aTDCF8iErWTrpvnwhWVbgTWN1GrJbdkANjd95Mjr8p17uc7ggdWUqaYFXvTchguL7eni6Uz2fCtPxEuL8wNLxSRnYokmsm3eAQtvdwuuG8N?format=match&mode=fit&width=640)

Coins without movement

The greater investor confidence in future growth is, the stronger the hoarding sentiment is. The share of coins remaining unmoved for over a year reached a record of 69%.

(https://steemitimages.com/p/32FTXiZsHoAW6noHJDhrg3W8ZKHVFSsLYM859aTDCF8iErHbrwwQbProN9nTmRPW6rw12f5Nz4Y4zbcrBwDF7LNXjN5AGtvBahJg51DbsRw9bhyFQLijXk58KMCb9KGHPzdLvpUzZ5WiqbsU?format=match&mode=fit&width=640)

Despite a price increase of 82% in 2023, the realised value (profit + loss) is only $290 million daily. This is the indicator of 2019 and 2020, showing low activity and investor unwillingness to part with coins at current prices.

(https://steemitimages.com/p/32FTXiZsHoAW6noHJDhrg3W8ZKHVFSsLYM859aTDCF8iErJUVrVSRahU6kbXACGN31HQTC1ixHbrkMLKoHfurGWfWkg5SwEGfLviVKkstPJfvUXee6vLb4q7dPyjAfQos69qP2hN6zHVFM9Q?format=match&mode=fit&width=640)

Institutional investors

Institutional investors represent a group of the most cautious participants, relying on macroeconomic trends and the Fed's monetary policy. Expectations of the latter's reversal due to lower inflation in the US led to an increase in investments in crypto ETFs. Over the past four weeks, an inflow of $742 million was recorded, an amount not seen since Q4 2021. 95% of it is due to interest in Bitcoin.

(https://steemitimages.com/p/32FTXiZsHoAW6noHJDhrg3W8ZKHVFSsLYM859aTDCF8iErJRzJyLpSuW8XcHQUPF2TtA1uKZo3bU3MkcGvp47P3GTUo4hLEQLZtRM2SdeLGsTHRk39UAgs5CnkDez4BkEpmmM54SNVynP6TG?format=match&mode=fit&width=640)

In a recent interview, Laurence D. Fink, Chairman and Chief Executive Officer of BlackRock, said that cryptocurrencies would eventually surpass any national currency in valuation due to their international nature.


StormGain Analytical Group (https://stormgain.com/easy-start)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on July 21, 2023, 11:19:39 AM
Which altcoin will take off in the next 12 months?

After XRP's (Ripple) spectacular 140% triumph in 2023, investors are wondering which other altcoin has the potential to pop off in the next 12 months. CryptoVantage surveyed 1000 US residents who had experience buying cryptocurrency.

70% of respondents expect new historical highs to be reached in five years. Ethereum has the best chance of surpassing Bitcoin, with Dogecoin in second place. 16% of respondents said that no altcoin has a chance of overtaking Bitcoin in terms of market capitalisation.

(https://steemitimages.com/p/9vWp6aU4y8kwSZ9Gw15LFL3aMdhmgmBBFMpDJregpdP328fkERgPRGPB4qE7sTENSZrsWo3yW5DPEZjpBxdkgwVguC1QRbWQR99vtqk6SDLmgH27gnRsRw2hvLXn3VBgW9gopD4VMhFh8Y3s4?format=match&mode=fit&width=640)

In terms of capitalisation, Ethereum ($229 billion) is way closer to Bitcoin ($586 billion) than to other altcoins. Excluding stablecoins, the next one is XRP, with $44 billion and the above-mentioned Dogecoin, with just $10 billion.

But Ethereum's strength lies not only in its army of fans but also in the developers' never-ending efforts to modernise the network. Last year, the network switched to the PoS algorithm, turning away from miners' services. Energy consumption has been reduced by 99%.

Instead of miners, validators are now responsible for block building. The opportunity for passive income has led to a boom in investment demand. As a result, 9,000,000 ETH worth $17 billion were staked in the last 12 months.

(https://steemitimages.com/p/9vWp6aU4y8kwSZ9Gw15LFL3aMdhmgmBBFMpDJregpdP328fMypPha4HMYxPZpHUQwWZb6b63BMkx2VP3BN1JNgfBfnNEPFQZ1zLXK5TkboLFZqwFKqPYUkjNnkvN17tbGF1cL83pzhQBgLDi6?format=match&mode=fit&width=640)

Even the SEC's enforcement action against US cryptocurrency exchanges and the refusal of some of them to participate in the staking programme couldn't affect the inflow of funds.

The survey also included this point, with only 20% of respondents believing that tighter crypto regulation would hurt the future value of cryptocurrencies.

(https://steemitimages.com/p/9vWp6aU4y8kwSZ9Gw15LFL3aMdhmgmBBFMpDJregpdP328UJjomSvAvNWaoXGZmP5Ce8itSJSGLWLhYtNAnam9UwzhivSojUju3nrUyKiQxTuc2Xsuc8jefEbXWujgiFZfU9CdHt36RtKszEa?format=match&mode=fit&width=640)

In addition to the interest in staking, Ethereum's exchange rate is positively impacted by supply reduction due to the burn mechanism introduced by the London hardfork back in 2021. In 2022, the network switched to PoS and became deflationary; 294,000 ETH worth $562 million was burned after the merge.

(https://steemitimages.com/p/9vWp6aU4y8kwSZ9Gw15LFL3aMdhmgmBBFMpDJregpdP328Qbn6NfGySFaEuGPoHNSjYzQaQrH2an5UihZADSphYyvChs12hw5Yy2JveehWQSZvGKc7jDZJ7z8ZzqpEjKntmT8WXjBvSA85YtE?format=match&mode=fit&width=640)

The only factor holding back Ethereum's growth remains the regulator's hawkish stance. But its recent court loss to Ripple on some points and the judge's refusal to recognise cryptocurrency trading as securities transactions increase Ethereum's chances of deflecting the SEC's attacks.


StormGain Analytical Group (https://stormgain.com/easy-start)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on July 25, 2023, 10:20:11 AM
Cathie Wood confirms $1.5 million forecast for Bitcoin

In a forecast case study released in February, Ark Invest presented three scenarios for the cryptocurrency market until 2030. The bearish one suggests Bitcoin will rise to just $260,000, while the bullish one foresees a surge to $1.5 million. In an interview with Bloomberg this week, Cathie Wood said the team's confidence in the bullish scenario has increased.

(https://steemitimages.com/p/7258xSVeJbKkzXhyseBP4PYz11eBDT8sW2oR1a4vfVFS6HocsNXkkFjUHV6xTVs18KJ9q31FHqTpeWq9DLvZHAPd2NbAcssyuG2Cje9pucGJ9rFWPsCzCv3Y4AJU8bP67zvZ89RyVYhAe?format=match&mode=fit&width=640)

Wood believes Bitcoin will continue to establish itself as an insurance option against inflation and that "everyone will want it at the end of the day." Cryptocurrency protects wealth from outright confiscation, inflation, and the risk of loss to third parties (counterparties) when stored or transferred. With the adoption of cryptocurrencies and the regulatory and legal framework in place, interest in Bitcoin will grow exponentially.

The SEC being flooded with applications to launch Bitcoin ETFs clearly indicates the same. Ark Invest teamed up with 21Shares and applied documents ahead of investment giant BlackRock. The SEC has accepted this and other submissions, as indicated in the public records note. A decision is due on 13 August, but the regulator can push the deadline forward.

Some experts agree that BlackRock's participation increases the chances of a positive outcome. Existing cryptocurrency funds have already experienced an influx of capital from institutional investors not seen since Q4 2021, with over $700 million invested in Bitcoin in four weeks.

(https://steemitimages.com/p/7258xSVeJbKkzXhyseBP4PYz11eBDT8sW2oR1a4vfVFS6Hm3LtuXqPJtxaG9LgBf3wUBQuQp7s2VbVgaotmRLKP95Z5Anbp92HFmWNaVYsvpZsABYQsDiLH3D2kk5cDdkHjGtraK5FUKQ?format=match&mode=fit&width=640)

Major participants expect a rally after the first Bitcoin spot ETFs appear in the US.

(https://steemitimages.com/p/7258xSVeJbKkzXhyseBP4PYz11eBDT8sW2oR1a4vfVFS6JRqB3CrpudCWraNgdfFEpbQd2tcEAmGq2q7dwSAAVe89q3Cgvo7czLwqcGbwTdJQ9H3xUB1CaZUwyn8U1K82MqiJYHGHQeWi?format=match&mode=fit&width=640)

When it comes to price targets, the $1.5 million forecast from Cathie Wood fits well with Bitcoin's four-year cycle model.

(https://steemitimages.com/p/7258xSVeJbKkzXhyseBP4PYz11eBDT8sW2oR1a4vfVFS6Hm6JGTRyQacpypZUaiX1wkATNwqETbDviUjVDECyJvzdE9THESFDcbmeQwu9zdDVwYdz5wX7NAwrLuvapJcU3GwxZk4GNHdg?format=match&mode=fit&width=640)

In the current cycle, with a record in 2026, Bitcoin will reach a maximum in the range of $100,000 to $1 million. And in the next cycle, with a peak in 2030, the price will range from $1 million to $10 million.

It's unknown whether the Ark Invest team was guided by the theory of cycles. Potential investors should consider that forecasts and mathematical models give only a conditional idea of future changes.


StormGain Analytical Group (https://stormgain.com/easy-start)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on July 26, 2023, 08:31:46 AM
Whales are dumping Bitcoin onto exchanges at a record pace

As the market sees long-term growth, whales are selling off their stocks to lock in profits and reduce their holdings. Typically, large periods of contraction coincide with price appreciation cycles. However, Bitcoin's performance in 2021-2023 has been a significant departure from the trend. During that time, it's traded at half its record high, and whales continue to get rid of their coins.

(https://steemitimages.com/p/9vWp6aU4y8kwSZ9Gw15LFL3aMdhmgmBBFMpDJregpdP328LjYYC2LDXgvWzitRHoTRz817ho6FBYFnxj5N3HC4FCxi2b2Cnb59pW1G4nLr12ffKpUyhXiuxNbSaSnRTVdS3QgxHNYPvGaFsC2?format=match&mode=fit&width=640)

Over the past month, whales have been dumping Bitcoin at a record-high pace for 2023, adding an average of 16,300 BTC per day into the market. At the same time, the share of whales in the total inflow to exchange sites reached 41%. This exceeds even the stressful circumstances of last year, such as the collapse of the Terra project (when whales' share was 39%) and FTX's bankruptcy (33%).

(https://steemitimages.com/p/9vWp6aU4y8kwSZ9Gw15LFL3aMdhmgmBBFMpDJregpdP328vFncL2uGrVUCaugLBQdBT6NtTzWTbawXjKbCvgD2BpWKSTyHGysnpT1Kt73vMjfCDd6eqERkwYDHTGvmmCMQNqV8tyL85Vouqjc?format=match&mode=fit&width=640)

Whales' actions may be driven by some insider information, but they're more likely driven by a reaction to the growing risks posed by the tightening of crypto regulation in the US and the prosecution of US market participants.

Notably, in July, 82% of all whale inflows to crypto exchanges have gone to Binance. Coinbase is in second place with a modest 6.8&. All other sites have taken in a combined 11.2%.

(https://steemitimages.com/p/9vWp6aU4y8kwSZ9Gw15LFL3aMdhmgmBBFMpDJregpdP329X3XPAx9Sauvk56FRDrWdKkTQWMJnGEGgYxFVhiEMA75B6rR9cbCUBM47kX3X6KZqGoM3TJRmjL27AexAhf1yYUEnaJUry2foJUv?format=match&mode=fit&width=640)

The whales' actions have resulted in Bitcoin not only failing to gain a foothold above $30,000 but also showing a decline in recent days.

(https://steemitimages.com/p/9vWp6aU4y8kwSZ9Gw15LFL3aMdhmgmBBFMpDJregpdP329SLPw2iiLKRj38tHJ8w87Z7T2SxU3NWj65nJAAPuiw1v2WQfE7zHjj7f8BRyb4vq1tEXothC3jT6VXHrU3sgyRm5PJ2V1SY4C6Ez?format=match&mode=fit&width=640)

It's worth mentioning separately that there is no unanimity within the whale cohort. For example, humpback whales (1,000 –10,000 BTC) were actively accumulating coins in July, while blue whales (>10,000 BTC) were getting rid of them.

(https://steemitimages.com/p/9vWp6aU4y8kwSZ9Gw15LFL3aMdhmgmBBFMpDJregpdP328vTkdPaTPY8G6QRFB5EozRhegXzxtfTGYRBPnuk4FNJWkfJWMSViqAcT1PdS4fx7MTj9NMi3R5yw4mwz4gmCKji84E8ghfDxRb7L?format=match&mode=fit&width=640)

Other market participants have taken a wait-and-see approach. Their aggregate exchanges don't show any significant change in their holdings.


StormGain Analytical Group (https://stormgain.com/easy-start)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on July 27, 2023, 03:41:37 PM
Elon Musk's launch of X.com will result in a Dogecoin rally

Musk's acquisition of Twitter is part of a bigger plan to create a global social platform with a broad integration of financial features. And he isn't hiding his inspiration from the Chinese WeChat, where users can communicate, place orders, transfer money, play and send official requests to government bodies.

For his new creation, Musk bought rights to the X.com domain in 2017. For now, this website is redirecting to Twitter, but later, the usual address will be gone for good, as it already happened with its name.

"The Twitter name made sense when it was just 140-character messages going back and forth - like birds tweeting. But now you can post almost anything, including several hours of video," Musk said, explaining the rebranding.

The bird logo was unexpectedly changed to X on 24 July. On the same day, users noted a change in Musk's bio, where the X was accompanied by the Dogecoin sign Ɖ.

(https://steemitimages.com/p/D5zH9SyxCKd9GJ4T6rkBdeqZw1coQAaQyCUzUF4FozBvW8YTxzWUPtExveuKPhNmCdiqBUQDoXipoGtjuZtmSXuUv6remeAUECUua7oDCQgZ2tAFskrQ92Xchgze8qr73z7w1G?format=match&mode=fit&width=640)

Musk has long been known as a cryptocurrency lover. In 2021, it became possible to pay for Tesla vehicles using Bitcoin. However, under the pretext of environmentalism, this ability was rolled back two months later. After that, Musk dedicated all of his attention to Dogecoin, being called Dogefather for his regular mentions of this cryptocurrency.

On 3 April 2023, this love reached new highs when the Shiba-inu image, the cryptocurrency's symbol, shortly replaced the Twitter logo. Musk explained the replacement as a fulfilment of an earlier promise he made if he were to buy the social media company.

(https://steemitimages.com/p/D5zH9SyxCKd9GJ4T6rkBdeqZw1coQAaQyCUzUF4FozBvW788xsyGKh5PWVUW1oN6CPhBeATLHuM85i3EAUQuSi44TzLzeG51k78HHMisgwrGnK83pvnC611PvyYSazRpTwpfs4?format=match&mode=fit&width=640)

Increased interest in Dogecoin and anticipation of the upcoming changes have led to a 17% increase in Dogecoin's price in the past seven days. The majority of other coins have seen a decline in this period of time.

(https://steemitimages.com/p/D5zH9SyxCKd9GJ4T6rkBdeqZw1coQAaQyCUzUF4FozBvW73A6VdiLWAghxKxn9qvwsxFQc7KJcn79BgYok7vsFuxfyUr4wdM1HB7xfNKDao1mxSgPK8dJmAgsjBDDjV9HJ1ki2?format=match&mode=fit&width=640)

But there's still more upward movement ahead. Users have reason to believe that Dogecoin will get a leading role in X.com due to Musk's sympathy for the coin. The reason is not just about being a crypto-cutie or respecting community cohesion. Real Vision CEO Raoul Pal believes Dogecoin will allow Musk to bypass securities laws and use the cryptocurrency to make global payments.

(https://steemitimages.com/p/D5zH9SyxCKd9GJ4T6rkBdeqZw1coQAaQyCUzUF4FozBvW7aFJeAUrz5uyCyotwka1KsLWG9PxP3cTqU3owhqvsquJxDXtvWqLS35itXBcZEpwUFxaU9zWbRci3AXfNB16hxqo4?format=match&mode=fit&width=640)

Following Musk's statements, the new X.com's features will be rolled out in the upcoming months. "If done right, X would become half of the global financial system." If Dogecoin gets a leading part in the payment segment, it will result in a rally for the cryptocurrency.


StormGain Analytical Group (https://stormgain.com/easy-start)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on August 01, 2023, 11:44:08 AM
Liquid staking pushing Ethereum

The Proof-of-Stake (PoS) algorithm has provided Ethereum holders with a passive income opportunity. The growing interest in staking has been slowed by the 32 ETH ($60,000) limit required to deploy one's own node. Many experts have criticised the owning limit, but liquidity pool platforms have come to users' rescue.

First, liquidity pools provide almost the same amount of profit as staking does. This amounts to a 4.3% annual return, but because of the growing network load, it may even reach higher numbers, as was the case in May.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSe5sh5pHTEujNGBnS4by67KerEH6p2uCBerU7pztAvsYAVQiBEjvjTNQaaGXJ5vHMRNF8?format=match&mode=fit&width=640)

Second, when staking ETH, platforms issue their tokens in return, which are called liquid staking derivatives or LSDs. These 'coupons' can be exchanged for ETH at any time or be traded or used in third-party staking programmes. This allows seasoned users to get the most profits when compared to regular ETH staking.

As of now, the staked amount is 27.6 million ETH, which is currently worth $51.4 billion, with 10.7 million ETH or 30% accounting for LSD.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSmDE8EW4Y66je3n2BsXwDoSuo7QMgwnwAg3MhNCuqHSrecFvJaJyB5MTnjyXQkm9ASG6r?format=match&mode=fit&width=640)

Most analysts are of the opinion that LSD will soon exceed the share of funds directly participating in staking. On the one hand, this is a positive trend that illustrates the resumption of interest in the DeFi sector after the collapse of a series of projects in 2022. Without Ethereum staking pools, it would be difficult to attract investors with such a higher barrier to entry.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYShXzYwULfCWydRSq81pCRbaJfu3PuBicx2JWMfkwQwkKdaoTGs9uJCxeNd6HxoWWLYrEi?format=match&mode=fit&width=640)

On the other hand, projects' interdependence is once again rising, which could lead to a chain reaction if one of them crashes. The risks are especially acute due to the dominance of Lido Finance, which holds a 74% share of the LSD market.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSu449viTos1TbXqBDrXZYdMjU499Y3tww9Ejx6PjoRV3pppN29oKh3aJzrYQ3TM3CiMKk?format=match&mode=fit&width=640)

Last year, the STETH 'coupon' from Lido was already trading at a significant discount to ETH, which was caused by users' massive sell-off.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSsZ5CojE1EVhSN22xHgkLxtiT43XYVgP2sepn2dRTFnt2wjbiU26MWNCMdGivnWWgty6W?format=match&mode=fit&width=640)

Right now, the market is rising, and the crisis is fading into the background. However, similar situations could occur again in the future. Investors aiming to maximise their profit should bear these risks in mind.


StormGain Analytical Group (https://stormgain.com/)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on August 02, 2023, 03:37:07 PM
Bitcoin risks a strong decline amid the DeFi crisis

The high interdependence of projects and cross-lending is once again hurting the entire cryptocurrency market. This time, a vulnerability in early versions of the Vyper programming language led to the theft of funds from several exchange pools on the Curve Finance platform. To make matters worse, its potential collapse could drag other DeFi players down with it.

Vyper is a programming language designed for the Ethereum Virtual Machine (EVM). It's used to write the smart contracts on which decentralised exchanges (DEX) operate. DEXs allow for exchanges between cryptocurrencies and passive income from lending.

On 30 July, Curve Finance faced the breach of liquidity pools in CRV/ETH, alETH/ETH, msETH/ETH and pETH/ETH pairs, which used earlier instances of Vyper, versions 0.2.15 to 0.3.0. Another over 200 pools weren't affected.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSjh1wSE7wjjd4iyvS8EYyuQdW2um2SCPVFTQpa2EhNjWXJRuzh17nmM97U9TyLStW8CQW?format=match&mode=fit&width=640)

While losses are still being counted, leaks on the following pools have been identified:

- CRV/ETH - Curve - $22 million
- alETH/ETH - Alchemix - $13.6 million
- pETH/ETH - PEGd - $11.4 million
- msETH/ETH - Metronome - $1.6 million

The hack led to panic among participants, with a 50% outflow from the platform and its total value locked in (TVL) dropping to $1.6 billion.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSjgX7SD7ejkBJ3cesAPMRo31H5PktYPL2mE8bne167puqmMmztBLVnqJAvFyREcArxMqp?format=match&mode=fit&width=640)

The fact that the crisis has the potential to spill over to other platforms is making matters even worse. Curve CEO Michael Egorov borrowed $63 million worth of stablecoins on the Aave platform secured by CRV (Curve). Over the past two days, the CRV has fallen 30% to $0.51. When the price reaches $0.37, Egorov's position will be forced closed, and Aave will flood the market with 168 million CRV coins.

(https://steemitimages.com/p/qjrE4yyfw5pEPvDbJDzhdNXM7mjt1tbr2kM3X28F6SraZk7qbbwf8SHGQtUCY7sP4jtZdvGbMpKJrdoLQuqiLyKHjRhfwJAVFR1vcCQ2cndMu19zZfzfkWYN?format=match&mode=fit&width=640)

The problem for Aave is that they won't be able to sell all coins, which represent 34% of their total circulating supply, at current prices at the time of liquidation. Selling off even a portion of the position would inevitably lead to a further fall in CRV and more panic in the DeFi sector.

Behind the scenes, platform executives are trying to find a solution, while Egorov is selling off stockpiles of other coins to increase its collateral. The community is puzzled as to why Aave accepted such a substantial amount for a loan and failed to consider the obvious systemic risk.

(https://steemitimages.com/p/C3TZR1g81UNaPs7vzNXHueW5ZM76DSHWEY7onmfLxcK2iP9j7yEQdMMmSGoLV4EpptCGMhX43FfcxHdYcZnKtC1bFLgrLihxsevKZzDanAUpAKXjT9mJK9g?format=match&mode=fit&width=640)

Amid the news, Bitcoin has lost some 1.5%, but the decline could get worse, given the Aave and Curve crisis will get out of hand. The DeFi sector is reacting by declining 8.2% to $40.2 billion.


StormGain Analytical Group (https://stormgain.com/)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on August 04, 2023, 09:53:42 AM
93% of hedge funds expect the crypto market to grow by late 2023

PwC, the world's second-largest consulting firm, surveyed both cryptocurrency and traditional hedge funds. And their managers agree on most of the key points. We've selected the most interesting takes from the survey.

When working with cryptocurrencies, hedge funds pay special attention to security. Most players use third-party services to store their holdings or manage cold wallets independently. Cryptocurrency exchange accounts are primarily used to execute transactions directly or to hold open positions in derivatives.

(https://steemitimages.com/p/JvFFVmatwWHRfvmtd53nmEJ94xpKydwmbSC5H5svBACH7yjwxXGaD6AHC5HHUuukqDjhKXCGdsUvnRRvi7b8CuCUDKF7938AyK1ByN6qiVDYUSNUHUqRfin9Yub9VUphAAqiwFnqWn?format=match&mode=fit&width=640)

The events of 2022 have forced managers to rethink their market behaviour strategy, including mitigating the associated risks. Therefore, spot trading is leading by a significant margin in 2023.

(https://steemitimages.com/p/JvFFVmatwWHRfvmtd53nmEJ94xpKydwmbSC5H5svBACH815Le42mgfk9vxUYmt2bMW8kHZcViqSvTiHMoC7KaRCodut5AKmsmdJRuBRo4rb1FVsi4sZzqYHrWb3fTpwcGcRfFQQiBQ?format=match&mode=fit&width=640)

But don't perceive hedge funds as rookie players who bought Bitcoin to hoard it. On the contrary, many of them (especially crypto hedge funds) use various opportunities, including loan programmes from decentralised exchanges (DEXs). The same managers who don't work with DEXs cited regulatory restrictions and cybersecurity risks as the reasons why they don't.

(https://steemitimages.com/p/JvFFVmatwWHRfvmtd53nmEJ94xpKydwmbSC5H5svBACH7ycZbFP1C97r4qLxgZ3UUcvY2WcK1fKw7FkPA5NYc7HcNJTUqePqjG4m6DC4j6BVrnxapgpEKrqwMzHkZHxrnL3Lb2c3jL?format=match&mode=fit&width=640)

Bitcoin and Ethereum are the preferred cryptocurrencies because of the events of 2022. 48% of hedge funds claimed they were directly affected by the collapse of Terra (LUNA) and FTX. This was the reason behind this year's decreasing interest in altcoins. But 93% of those surveyed think that the bottom has formed and that the cryptocurrency market will see upward movement in late 2023.

(https://steemitimages.com/p/JvFFVmatwWHRfvmtd53nmEJ94xpKydwmbSC5H5svBACH81iwvgDDzBNduyKB6zUvz6pkQRoaxT6PL4JdTuvyhc7tmzVFB8KsSWNzx3z1A8q2r3r8UASP8w6ubqY93upcoxQpRR9FeE?format=match&mode=fit&width=640)

But don't forget the long-standing confrontation between Bitcoin and Ethereum.

(https://steemitimages.com/p/JvFFVmatwWHRfvmtd53nmEJ94xpKydwmbSC5H5svBACH7xap5nja2NWVLrL5xX3yrtLwnBa5ZWwqg146usCN5ziyuBUboq1ryd9LqSMVisEDs5zPT35DeGaUzokbdoFfhqVhhnoyee?format=match&mode=fit&width=640)

72% believe that Ethereum has zero chance of ever surpassing Bitcoin in terms of market cap.

(https://steemitimages.com/p/JvFFVmatwWHRfvmtd53nmEJ94xpKydwmbSC5H5svBACH7yNbyyhBg76hGAFkTesNBcbLeuyUhnNVxm4APdWz8BiatyCNszPfM4oWYfyoKk7Jz1HWWPpD3y3VH7rzyLnBY86UsFhqgr?format=match&mode=fit&width=640)

The 28% of respondents who believe in the altcoin expect Ethereum to achieve superiority in the next 2 to 5 years.


StormGain Analytical Group (https://stormgain.com/easy-start)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on August 07, 2023, 10:39:01 AM
Curve offered hacker 10% to return $70 million

On 30 July, Curve Finance experienced a hack that could lead to a chain reaction in DeFi. In a week, the outflow of funds from various lending programmes has reached $2.7 billion.

(https://steemitimages.com/p/W5LtFUPm6g7111bbdcuxu3bfUg5qaCq8seb5paCtrrT7zPTCnpmS4XbViFVLGSBT5ifbsG9ZWuo9sKyHtnsczzMHVnKZWQ4GfZcuDJCT2XtpGjBSQUXDtuRgumqCtPbTziJKtzVVab3XKZXBB8YbcpNbKEpxn?format=match&mode=fit&width=640)

Because CRV/ETH, alETH/ETH, msETH/ETH and pETH/ET used the earlier versions of the Vyper programming language, the hacker managed to steal around $70 million. It wouldn't be that big of an amount compared to the annual hacking losses of various projects if it weren't for the drop in CRV's value and its use by Curve Finance CEO Michael Egorov as collateral on Aave for a loan.

CRV's drop to $0.37 will cause forced closure of the position. This will be a headache for Aave, as the 168 million CRV coins represent a third of its circulating supply. It's impossible to sell such volume without significant slippage, which brings systemic risks for Aave and other related platforms. This caused the AAVE token to lose 14% of its value.

(https://steemitimages.com/p/W5LtFUPm6g7111bbdcuxu3bfUg5qaCq8seb5paCtrrT7zNboVgngZdj7ghYH8wmwtJsJdwCLWyfThoW7cqJug3A5t57SXoekW3QJy9rZTUbfTTzrzDKP8J4fktaJNApUjrzMba5Aac16yRDSTFSQSmZFrYHsk?format=match&mode=fit&width=640)

To avoid the worst-case scenario, Egorov held a private sale that raised $16 million for 39 million CRV. The premium for buyers amounted to 25% of the market rate. Curve has also addressed the hacker, offering a 10% reward for returning the stolen coins.

(https://steemitimages.com/p/W5LtFUPm6g7111bbdcuxu3bfUg5qaCq8seb5paCtrrT7zS34hU1hohF6b4sjxtrGYD8rANystzyxSfa9ChNsx2XiWmbTQBMvwyCK5yHqo3y2J6PEkkJC2mCKkEq1kC6pmoHisncQeiXqcHHPeiHLmYMo5WZka?format=match&mode=fit&width=640)

The company is offering the hacker to return 90% of the stolen coins by 6 August with a promise not to take any legal actions against them in return. If no funds are returned by the set date, Curve will provide a 10% reward of the stolen amount to those who help identify the thief. As of now, it's around $7 million.

ZachXBT, among other crypto detectives, claim they have contacted a potential suspect. The latter, however, countered that they themselves were victims of the hack and asked ZachXBT to edit the post.

(https://steemitimages.com/p/W5LtFUPm6g7111bbdcuxu3bfUg5qaCq8seb5paCtrrT7zMzqRjGmdZsYaD93ixapuZTTN5UJ9UCfZjNhuNsosdKhuZhyYyK3DTCT6RPcdvxKTMV98ZNQHbPNYLtBWmcT6DnPnsN37bNaR1zz9dT53uXbS3BFt?format=match&mode=fit&width=640)

Returning some of the stolen goods in exchange for non-prosecution is a fairly common practice for the cryptocurrency market. Hackers happen to return the full amount, as some of them prefer the process itself, and there's a non-zero chance of identification, even with the most sophisticated theft methods.

Yesterday, Ilya Lichtenstein, who was charged with laundering funds stolen from Bitfinex in 2016, pleaded guilty to hacking. After infiltrating the cryptocurrency exchange's network, Liechtenstein conducted over 2,000 transactions and embezzled 119,754 BTC. Currently, that's worth $3.5 billion.


StormGain Analytical Group (https://stormgain.com/easy-start)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on August 08, 2023, 11:23:48 AM
Curve Finance hacker agrees to a deal

Last week, we covered the hack of the Curve decentralised exchange and the risk that put the entire DeFi sector in due to cross-lending. For a quick resolution, the hacker was offered a 10% reward and a waiver of legal claims for returning the stolen $70 million by 6 August. Otherwise, the Curve team promised this amount as a reward to others for identifying the hacker.

One of the Curve pools affected by the hack, the JPEG'd project, has already confirmed the return of the stolen 5494.4 WETH (~$10 million). JPEG'd said it considers the event to be a resolution and is ending its search for the hacker. The project is providing a reward of 610.6 WETH (~$1.1 million).

(https://steemitimages.com/p/32FTXiZsHoAW6noHJDhrg3W8ZKHVFSsLYM859aTDCF8iErVb3jUVpkqezNXHQtwEJx9VdcCfd4m6jPqE95mmU8HGmK5CE4rvEJbaEfBjHbSWUmsJrgYKyvskssm3zUjo7jyYDTPJZLjopSjg?format=match&mode=fit&width=640)

The Alchemix project, which lost $13.6 million due to the attack, is also reporting the full return of funds.

(https://steemitimages.com/p/32FTXiZsHoAW6noHJDhrg3W8ZKHVFSsLYM859aTDCF8iErWURDHRAfbWix9ymHASBiVcyuudSdvmMTqRS4Ab7rcAdp6aK1hzh1ZQ1DdEZKwwP1mPxX1e9asqVAW49SvFhvJ2PHu8MD2sb6WJ?format=match&mode=fit&width=640)

On the back of positive conflict resolution, the crvUSD stablecoin has returned to parity with USDT, with the DeFi sector seeing blockchain coins rise 2% to $40.9 billion. The AAVE token recovers as the risk of liquidating the credit position of Curve CEO Michael Egorov, who borrowed $63 million worth of stablecoins from AAVE under CRV, fades away.

(https://steemitimages.com/p/32FTXiZsHoAW6noHJDhrg3W8ZKHVFSsLYM859aTDCF8iErL9TDXtf4v74iZts1z7FwXu9ftTJegJfSqvPx8CA4gbKrGmXo73ieZdDgCnTDMikDZq4ypYZRHyEdaWw3o3oQrZCEj7i2ExHkVt?format=match&mode=fit&width=640)

Traders who were expecting a Curve rout are pulling back as the funding rate has returned to neutral. This indicates that there's no longer a dominance of sellers in futures contract trading.

(https://steemitimages.com/p/32FTXiZsHoAW6noHJDhrg3W8ZKHVFSsLYM859aTDCF8iErMkDf6VuJPDjbf7gb9Cbbe2iMW1G1dveGrV3hoa3nBfpyoXaVXVh8tUuBhrbEGzVGqJM6BVXmM9ewRR9hrgzQz3Bzd9DnRmEL8W?format=match&mode=fit&width=640)

Unfortunately, not all crypto hacking stories have a happy ending.

(https://steemitimages.com/p/32FTXiZsHoAW6noHJDhrg3W8ZKHVFSsLYM859aTDCF8iErMnAEwM2tcqSVg5vtBqenY2muhC8krMAAUYfuT59e9EzptvSeioJz3jvV51V2vxzrtn73GZN7yULMSX5nZ35XyLrabKBYX4oy3t?format=match&mode=fit&width=640)

According to Certik, there were $313.6 million in thefts in Q2 2023 alone. Less than half of those funds were returned, with most cases remaining unsolved.


StormGain Analytical Group (https://stormgain.com/easy-start)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on August 09, 2023, 10:33:34 AM
Bitcoin: The current consolidation is in line with previous cycles

Bitcoin's 1-12 months of volatility is at the lowest point since 2016. In the history of cryptocurrency, which is characterised by large price swings, only a few months have been calmer.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSjox6DVdMDzWny4pypN58wgLt61pPVXvWCJ4dVxk9e3Ds8yTngX8gJHYepG7fYKHGmaTG?format=match&mode=fit&width=640)

Following the decline in volatility, trading volumes in the derivatives market also dropped. Bitcoin's total volume fell to $19 billion daily, while Ethereum's dropped to $9.2 billion.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSmFrHMvX4eEMgFLAusfheXgNwcLEB6N43SrEf8VFhnawz7eVcKCvzLCXsTGVCV2oWjSLv?format=match&mode=fit&width=640)

This calm will eventually result in a major price move, but it's not in any way an extraordinary event. After reaching highs during the 2021 rally and 842 days after, the current drawdown is 54% lower.

Note: Glassnode takes April 2021 rather than November as the starting point for the last cycle. According to the agency, the bears started taking control in May 2021.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYShW3K4bAhu52yZQ7krpGK2gLcDs9HxL78idTqHGV3CDLungqUcidHwybawwhqpzeTbVjc?format=match&mode=fit&width=640)

These numbers are way better than in 2019 (64%) or 2016 (63%). It's also worth noting that in previous cycles, the price was very slow to rise in the six months before the new bull run. So, the current volatility drop is typical for a recovery period and may continue.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSsYw6yyugaTZu9zmkhjuxL63yGfE4aWvTPqMZW1Ro9PnZABuGYpARamziFAgAgbGz916N?format=match&mode=fit&width=640)

Anticipation of a sideways move correlates well with the Fed's monetary policy. The regulator will probably not raise its key rate again and plans to gradually retreat by 1% or more from current levels (5.5%) in 2024.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSjmX1J4utNCgj2KpVrmYh6tnBTWL98sMesLNH7AtdFsoxNkdmVFNLfUThsZPi7tR76vza?format=match&mode=fit&width=640)

However, market turbulence, the US dollar's devaluation and positive changes for Bitcoin are still possible in 2023. For instance, the regulator can do a 180 way earlier due to a continuing banking crisis. Last week, Heartland Tri-State Bank shut down. It was the fifth American bank in 2023 that couldn't meet modern challenges.

Authorisation to launch Bitcoin spot ETFs may be the second driver. Anticipating victory, the SEC has been flooded with applications for Ethereum spot ETFs. Market participants consider the chances to be high since BlackRock, the world's largest investment company by assets under management, is also involved.


StormGain Analytical Group (https://stormgain.com/easy-start)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on August 14, 2023, 08:57:38 AM
Traders bet on SAND declining after $134 million unlock

The gaming segment of the crypto market has seen better days. Sales are down 90% compared to the best months of 2022. Sector investments have also experienced a decline and are now performing worse in terms of the number of new jobs.

(https://steemitimages.com/p/7258xSVeJbKkzXhyseBP4PYz11eBDT8sW2oR1a4vfVFS6HgS2wUAvP1CQnXprj4agNu5FAVYZn3PpmYD49S2iDCXVMdf787P4A49sSSfidjYKwEz5ttkNvz6zN3e4oqcDpcqkppP56Cpn?format=match&mode=fit&width=640)

The situation for users of the Sandbox metaverse is complicated by the upcoming release of 333 million SANDs worth a total of $134 million. The new coins are set to be distributed among users on 14 August.

(https://steemitimages.com/p/7258xSVeJbKkzXhyseBP4PYz11eBDT8sW2oR1a4vfVFS6Hwaun8QNJ9HmVrX9SDknx5pCUcoPkHWWGSAfrLx9HNczdwM4CtnFhjk1FENH6XTxaNabyJS4iaLfNonGG4EKYN79kdtX7ydp?format=match&mode=fit&width=640)

30% will be directed to the company's reserve to hold events, 32% will go to the project's team and consultants, and the rest will be credited to early investors and participants in previous promotions. Excluding the reserve, 236 million SANDs worth $94.4 million may be released immediately.

The previous unlock was held in February and resulted in a consequent price decline, completely offsetting January's growth. SAND has lost half its value from its February highs.

(https://steemitimages.com/p/7258xSVeJbKkzXhyseBP4PYz11eBDT8sW2oR1a4vfVFS6JP5D6NiGPvKKJr2u4ax81S2nRR86ZiHfMNBn8qEKm5rR1r7FJ12gzb5SYa9SAczujmqjaLN5292A1zgRMYGN5D6qiYUYUQ4v?format=match&mode=fit&width=640)

In anticipation of another unlock and price decline, traders of perpetual futures are increasing their sell positions. This has put the funding rate at its lowest point in five months.

(https://steemitimages.com/p/7258xSVeJbKkzXhyseBP4PYz11eBDT8sW2oR1a4vfVFS6HwHZyVbKyd3KmR5mjUUYWNCGeQu9uDmuEavUmZCQpVNG61gDb8TPtyN9pirD3rSL2nZ2KqAuuPkyMNUWZnoMGSJVo4VFgY4e?format=match&mode=fit&width=640)

Over the past 12 months, the volume of the platform's daily operations declined by 4.6 times to $132,000. And the number of unique addresses dropped thrice to 201. Rare activity bursts are seen during the events when additional NFT artefacts add value to rewards. Often, such investments are unjustified because of the drop in SAND's price and the time spent on tasks.

(https://steemitimages.com/p/7258xSVeJbKkzXhyseBP4PYz11eBDT8sW2oR1a4vfVFS6Htv2hwduwBTqjJNAC7HQikrN8hQsyWRjTw1RG8Ss1ftCRjt4TtKBrMrw5An9myqewCWe8HfrLQBfcimUhXpeg2ZWV7LJzn4E?format=match&mode=fit&width=640)

With these inputs, an increase in circulating supply is likely to cause SAND's price to fall further.


StormGain Analytical Group (https://stormgain.com/easy-start)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on August 16, 2023, 10:57:28 AM
Low Volatility Period For Top Cryptos As Meme Coins Gain

Monday was a quiet day for major cryptos, including Bitcoin (BTC) and Ethereum (ETH), which saw only lacklustre market action over the weekend in what emerged as one of the lowest volatility periods in crypto history.

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Bitcoin is holding out at just over $29,300 as Ethereum hovers around the $1,850 mark, with minimal gains for investors in the absence of any major events that could serve as a catalyst to spark buying pressure. Other major cryptocurrencies and mid-tier altcoins, such as Cardano (ADA) and Solana (SOL), tended to follow Bitcoin's pattern.

Given the lack of action in the crypto mainstream, it's perhaps unsurprising that traders turned to meme coins such as Shiba Inu (SHIB) and Pepe (PEPE), which both rallied over the weekend. In particular, open interest in SHIB futures reached record highs.

(https://steemitimages.com/p/vM1pGHgNcyCXUWJECrZbvn1NMPj1oFGUo3gYfF3NNPRD9UmCeNn6BiCEnxByfCoc4NDqHjzFPm27HdVjSVPVtFJcvPCFJDwVonaJSipMKhi2btSNGej9qpSZe6hWU1qzzQydkAJ?format=match&mode=fit&width=640)

Historically, this kind of action on speculative assets on the fringes of the crypto market could be a sign of bullish action to come in the wider digital asset space as the market heats up before a price breakout at the top.

What's next for crypto?

As low volatility reigns, analysts are projecting what will be the next event to dramatically shift the market. An anticipated ruling on Bitcoin ETFs from US regulators is expected to inject volatility back into the market, but lawmakers appear to be dragging their feet on the issue.

Bitcoin also faces another looming event that has historically driven up prices, and this one is irrevocably built into the blockchain in the form of its next halving of mining rewards, scheduled for April 2024. Analysts expect an accumulation of BTC before the upcoming halving event introduces even more scarcity. This is supported by the latest data from Glassnode, which shows that the total number of Bitcoin addresses with a balance of at least 1,000 BTC (the equivalent of over $29 million) has gone up from 2,005 to 2,015 since the start of August. Pundits point to these new whales as a sign of bullish momentum brewing under the surface.


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Post by: stormgain on August 21, 2023, 01:18:56 PM
What Are We Waiting For? Why Bitcoin Isn't Moving Yet

Bitcoin (BTC) continues to tread water below the $30,000 line, dragging down a host of altcoins with it as Dogecoin (DOGE), Solana (SOL) and Polygon (MATIC) all fell by 6-7% midweek. The malaise remains in place even as data shows an uptick in BTC accumulation because the market has yet to make any major moves. So the question is, what is the next trigger that could spark some action in this stagnant market? Let's analyse a few factors.

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The SEC reviews Bitcoin ETFs

The US Securities and Exchange Commission (SEC) is still stalling on a review of multiple spot BTC ETF applications, including one from finance titan BlackRock. Plenty of crypto pundits are bullish on Bitcoin's prospects if these ETFs are approved. Fundstrat Global Advisors' Tom Lee dropped a characteristically bombastic prediction of $180,000 during a CNBC appearance this week. While this prediction should be taken with a pinch of salt, more analysts expect that the SEC's approval of spot BTC ETFs would drive up demand for Bitcoin and increase prices.

Investor sentiment

Looking at the futures market, we can see that the trend of short Bitcoin liquidations that had dominated since the start of the year has now reversed. Now, 83% of all BTC liquidations are long positions, and Bitcoin trading volume sits at its lowest level in over two years. Without any buying pressure from trading volume, the dominance of long liquidations is keeping asset prices down.

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Macroeconomic events

Bitcoin traders have been keeping an eye on the global economy lately as BTC's price continues to be directly affected by inflation, as indicated by the consumer price index (CPI) figures and the actions of the US Federal Reserve. Last week's CPI surprised analysts by being lower than usual, suggesting that the Fed may slow its interest rate hikes and even start cutting rates to stimulate the economy. If this occurs, then Bitcoin and the wider crypto market could benefit from renewed investor interest.

Despite the mid-August slump and overall low volatility, general market sentiment still expects a recovery and breakout for Bitcoin as mainstream financial institutions continue to adopt crypto and the 2024 halving event looms on the horizon.


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Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on September 05, 2023, 03:49:04 PM
Why the Binance stablecoin (BUSD) is leaving the market

At its peak, BUSD ranked third among stablecoins, with a market capitalisation of up to $23 billion. But Binance CEO Changpeng Zhao's (CZ) attempt to force out the competition has failed. In 2024, BUSD will leave the market for good.

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In 2022, to strengthen his influence, CZ took the bold step of announcing the mandatory conversion of some incoming stablecoins on Binance to BUSD. This yielded good results, and in the following 90 days, its capitalisation skyrocketed by 11%.

Circle (the issuer of USDC) found this decision disruptive and filed a complaint with the New York Department of Financial Services (NYDFS). In February 2023, the regulator filed a pre-trial complaint against Paxos for issuing BUSD, causing the company to stop minting the coin further. Support for BUSD will be terminated in early 2024.

After the Paxos announcement, BUSD trading went down, and Binance started looking for a replacement.

(https://steemitimages.com/p/9vWp6aU4y8kwSZ9Gw15LFL3aMdhmgmBBFMpDJregpdP329aimP2aGfcnvegCtjRWhywtV3nsrKHcagQCc7Smv2hjY7iuMd2dbHmUXzK1AzaU8S4qYv3mYCgN49PrE5zihgfvD5xDbxnAGVxm4?format=match&mode=fit&width=640)

The regulatory pressure came for a reason. A little earlier, American media published reports about the BUSD's insufficient collateral since a clone of it was printed on the BSC (Binance Smart Chain) network, and the gap between the reserve and supply exceeded $1 billion in certain months. In addition, analytical agencies found instances of clients' funds being mixed with the company's assets. Later, Binance admitted mistakes in its financial management.

(https://steemitimages.com/p/9vWp6aU4y8kwSZ9Gw15LFL3aMdhmgmBBFMpDJregpdP328bVgSARwsyEaKcH3PuKzG8ry4mZZ3DbSThYFpwciUoGsQrWin3oLTi7MiR3ktLrz3We9LcZad5Aw4oR4QDkWoYoxoU2xQMkcrNKg?format=match&mode=fit&width=640)

BUSD's damaged reputation and the impending withdrawal of support from Paxos left the crypto exchange with no other option but to abandon stablecoin. On 31 August, Binance officially announced that it would stop supporting BUSD in February 2024 and informed customers that they needed to convert it to other coins.

This news hurt another cryptocurrency exchange coin, BNB. Due to the increased regulatory pressure on Binance, it's already performing poorly in 2023.

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CZ tried to expand the use of its stablecoin but wasn't sufficiently accurate about how it was managed. By introducing zero fees in 2023, the use of coins other than BUSD was encouraged.

In March, Binance advertised a move to TUSD, but in June, this stablecoin lost its peg to the dollar, trading at a 20% discount. In a press release on 31 August, the crypto exchange offered to switch from BUSD to Hong Kong First Digital Group's FDUSD, a coin that emerged in June 2023.


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Post by: stormgain on September 07, 2023, 04:37:52 PM
Institutional investors prefer Solana over other altcoins

Institutional investors were the main drivers of the cryptocurrencies' growth in 2020 and 2021. The Grayscale trust fund alone acquired over 600,000 BTC (approximately $16 billion).

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These market players' preferences can form a long-term trend. An analysis of investments in exchange-traded funds shows Solana overtaking Ethereum in 2023.

Various funds have accumulated around $26 million in Solana over the past 12 months. The figure is modest but contrasts strongly with the outflow of $102 million from Ethereum and $51 million from Tron.

(https://steemitimages.com/p/26uUsAjKTsXCBRzTxRJWxpz7qLMdK4Nq6Ha3QAmrmWNLCRcAKzsWkfCLfqatmfV92Rbudn4enJ86fm83kBETPUcxZ4c51drGu7zH355akFSDqmgPJCLGKPKdGdq2Cr72oMwx9UQm2wkzo2t3yZkHBw2H57oEWn6MvbHU2a?format=match&mode=fit&width=640)

Investors favour Solana because it's one of few Layer-1 blockchains with high transaction completion speeds (just a few seconds), minimum fees (less than $0.01) and high protection (1,981 validators).

(https://steemitimages.com/p/26uUsAjKTsXCBRzTxRJWxpz7qLMdK4Nq6Ha3QAmrmWNLCRdchSwSESRwMpcx98cBCpJ4MCziKnfTsx1qEqXmE2hytNKKrVuYZC8wCy78ppcDqBFjnYanAiNz5c74yS6coUsQxdqzzNuVi2xRLQKgm7yPNMkzMWCABp3hGa?format=match&mode=fit&width=640)

Solana was previously criticised because of constant failures, but it seems developers may have managed to normalise the network's operations. Its work has been stable for the past six months, resulting in beneficial business expansion.

In August, the Solana Pay service was added by e-commerce platform Shopify, whose turnover exceeds $400 billion a year. In addition to that, yesterday, reports emerged about the blockchain's integration into Visa's payment system, leading to the coin strengthening slightly.

(https://steemitimages.com/p/26uUsAjKTsXCBRzTxRJWxpz7qLMdK4Nq6Ha3QAmrmWNLCRarKFrrLcPNk9FjoiBBmN4dN2Cw2w39UyU4KCcUdUs8KJNvafH7rCZDYnLkaaBj9PsvnjyLZDUyYcQ93xJbprymP4Bnaywg5XwZy8jxjcmy647KAoufg7of3k?format=match&mode=fit&width=640)

Visa uses the blockchain for instant and cheap intra-bank exchange transactions. Payments are made using the USDC stablecoin, around $700 million of which has already been minted by Solana.

(https://steemitimages.com/p/NTy4GV6ooFRkjTArCrebYc2WCCmX2KY4SfTbUDpHWg6ZYGFLSxxgyroSaLsLFXieERNBayEc8mPVRBNUJVNdLCrhzJRV9y11fPadXk1aj6moQj5LZkTfoeA3s7UYWGuPPAazKzw8Jq5vLJ4nAGkozKAxYhBgD1RtrMsdUgte?format=match&mode=fit&width=640)

If developers manage to provide reliable network operation, the network's partnership with such major players will attract additional attention. The low base effect is an additional motivation for investors, as SOL is trading at a 90% discount from its high.

However, there's a factor limiting its growth. A court judgment on whether and how much to compensate FTX investors and clients for their losses is fast approaching. The collapsed crypto exchange is estimated to have $700 million worth of SOL in its accounts.


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Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on September 08, 2023, 11:18:32 AM
K33: Ethereum awaits a hot October

After Ethereum switched to a Proof-of-Staking protocol, it ran into pressure from American regulators. According to the SEC, the offer of passive income via staking means the coin should be considered a security. This made it possible for the supervisory authority to come down on cryptocurrency exchanges and financial companies with pre-trial claims that they violated securities law. To resolve the conflict, many of the targets of the legal action closed access to staking and paid huge fines.

This affected the investment attractiveness of the altcoin, which is why it's 12% behind Bitcoin in 2023.

(https://steemitimages.com/p/3DLAmCsuTe3bV13dhrdWmiiTzq9WMPZDTkYuSGyZVu3GHrUZzu1evspeMk3vPySP3UJWzsYYECZq6grRBz8VpD5acRMQYskSttzkpv66XmK8DUnhZiCeey7Znfy9WvKsrm5kFTCwtWqqE9UqJUyfLm6NSzSYvKQ?format=match&mode=fit&width=640)

Analytical agency K33 Research suggests that the situation will soon change dramatically since October is the deadline for considering applications to launch ETFs on Ethereum futures.

The event could significantly fuel interest in the altcoin. In 2021, Bitcoin's price surpassed $60,000 based on expectations stemming from the launch of a similar fund for the pioneer cryptocurrency.

(https://steemitimages.com/p/7b4bio5hobgskW8qdPdvSqcwwJTvbiCMpGmRey1Rtd8H5qkWNZwcTJD3nBx3onVtAkHgN6UAFeGj2wxQ6oBubjSCdTVnTYcFcvHk1qXmfKXvVdqgeCNU8kg5ePTM512mxtMSU4QwG92DERX9pPiFL7bcHenJ?format=match&mode=fit&width=640)

The likelihood of approval is high for several reasons. First, Bitcoin futures ETFs are already operating in the US. Second, in August, the SEC lost a court case over its denial of Grayscale's application to convert a trust fund into a spot Bitcoin ETF. An appeals commission ruled that the refusal was "arbitrary and capricious" since the regulator failed to raise significant arguments (see our article for more info). Now, the SEC must either approve the application to convert the fund or find "ironclad" arguments for rejecting it.

Grayscale shares, which were trading at a significant discount, shot up as market participants assumed the resolution of the conflict was in its favour.

(https://steemitimages.com/p/7b4bio5hobgskW8qdPdvSqcwwJTvbiCMpGmRey1Rtd8H5r6RnfZYWnRnJZXv2iWRBYJPH9RfGte2JSzQ6iSUuw9FqdFmBoPH916e6o1ngMtzynrsCkPBVgdmW53gJBvqcP3aZSSzjayyjVyhoLAJzhYDpiS2?format=match&mode=fit&width=640)

Anticipating a series of victories, investment companies have intensified their applications for spot Ethereum ETFs, too. For example, ARK Invest and 21Shares applied jointly yesterday. Some media felt that this was the first such application of its kind, but VanEck hastened to disappoint them.

(https://steemitimages.com/p/7b4bio5hobgskW8qdPdvSqcwwJTvbiCMpGmRey1Rtd8H5qkKi7fnJems3vxVTUz2LZrY3m8F1CJ2uvRwe77s3xpMEJkaosGXqCZqWLJNyZcqcVLGRerbRfaAKsGJ8CeMrahw8kqiEz8TLs1Xbs1e6hExWUJi?format=match&mode=fit&width=640)

The list of applicants will likely soon expand. Grayscale won't mind converting its Ethereum trust fund to spot ETFs. If the SEC accepts the application from ARK Invest and 21Shares, the deadline to consider it will be late May 2024.

All these events could revive interest in Ethereum among institutional investors, who have withdrawn more than $100 million from exchange-traded funds operating around the world over the past 12 months.


StormGain Analytical Group (https://stormgain.com/easy-start)
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Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on September 11, 2023, 11:22:18 AM
Binance is losing market share fast

Binance has had a rough go in 2023. A number of regulators around the world initiated investigations into it, with Australia even withdrawing its license. Because of financial management concerns, Paxos refused to continue minting BUSD, with the stablecoin slated to leave the market for good in February 2024.

American media predict that Binance will face severe charges from the US Department of Justice, citing the resignations of a dozen key managers this year. The list includes Chief Strategy Officer Patrick Hillmann, General Counsel Han Ng, APAC Head Leon Foong, and Global Head of Intelligence and Investigations Matthew Price.

The worsening situation in the global arena and investor fears have led to some clients subsequently running for the doors. Binance's share in the spot market decreased by 12% in 2023, showing the worst result among major players.

(https://steemitimages.com/p/3zpz8WQe4SNGWd7TzozjPgq3rggennavDx3XPY35pEAVnpraBuugQVihJ876vP4BggmvgLvVpfFXmNjJnDSXXuTREgupjpU3Mh9aCztCbFQX3hcYP9E9tTRQMvjaBPDdoMjKQWkVmp8MUEQqzmKU?format=match&mode=fit&width=640)

The trend intensified in August, with spot trading seeing a 2% cut and derivatives trading experiencing a 3.7% decline compared to July.

(https://steemitimages.com/p/21PRtjKRXPQybj4WUXScWv5QPLninWRxfbcWNsx7SenD7Fp53rHcpZ7ueyGwzvdJmsz1omVcwJu88FZ1HPatUDgDNpGzCWmjQi6ZH3CnUFRUKCFFsXyRTPfW3CQWuvNdXqEijBgr7WA3YrYuy1rdUqC?format=match&mode=fit&width=640)

The BNB coin went underwater, trading this year at an 11% decrease.

(https://steemitimages.com/p/21PRtjKRXPQybj4WUXScWv5QPLninWRxfbcWNsx7SenD7FqrPTJcYujWirRkSYarqx9KrfoFAfXjRtxauRaUBWJSxGi1Xrp9sZNCJRjDveM8xTUSh5U4RKx1pJTGYiDeCZvdgbdTrntAUeYCmqHb1xa?format=match&mode=fit&width=640)

Meanwhile, the crypto exchange remains a major market player. Its share now accounts for 38.5% of spot trading and 53.5% of derivatives trading.

The loss of Binance's positions happens in times of a decline in global trading. The monthly volume of spot trading decreased to $475 billion, which is the worst performance since March 2019. Even Grayscale's interim victory over the SEC failed to encourage participants, with the firm recording a 7.8% decline from July.

(https://steemitimages.com/p/3zpz8WQe4SNGWd7TzozjPgq3rggennavDx3XPY35pEAVnqFRqh1mg4VFmg2P9unjx1X5Yeo7uegveV2AbkVbcFS1LrpV3VUj9v8GWtKjp7vQoy5kSzxEuuQ4cAsEAtQFeWXnXxopmtU7tRsPXCgv?format=match&mode=fit&width=640)

This year turned out to be worrisome for Binance. However, it continues to expand. In August, it became the first licensed cryptocurrency exchange in El Salvador. If the company manages to establish communication with other regulators and avoid new accusations, it has every chance of regaining its lost market share.


StormGain Analytical Group (https://stormgain.com/easy-start)
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Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on September 12, 2023, 04:39:49 PM
$45,000 is Bitcoin's fair value price based on energy value

Back in 2019, Charles Edwards, the founder of Capriole Investments, presented Bitcoin's fair value model, which is still quite relevant. It's based on an assessment of the volume and cost of energy consumed, as well as the supply growth rate.

The model assumes that a high level of human effort is associated with high expectations and an increase in demand for the produced product. If demand declines or an 'employee' discovers another, more advantageous area, their efforts will fall to zero.

This statement results in several hypotheses that set up the rule in practice. First, significant price growth leads to the activation of miners and an increase in Bitcoin's energy value. Second, when price growth is caused by speculations without a corresponding boost in energy consumption, the price will fall back to the energy value level.

(https://steemitimages.com/p/9vWp6aU4y8kwSZ9Gw15LFL3aMdhmgmBBFMpDJregpdP329dbZfsJ1rojiQhVH9ACXdNaNuNRNEJcDrzHiGuCRsohsXGtyyxabqFNC6jhGJeLxRFhrT6yMHrZu3rB61ofqXnZDUWSw91By2qtr?format=match&mode=fit&width=640)

As the chart shows, the model and Bitcoin mostly move in lockstep. The only exception is the drop in energy value seen in 2013-2014 because of miners' transition to ASICs and a sharp decline in energy consumption.

Last year, the indicators diverged once again, but in the opposite direction. Currently, Bitcoin's fair energy value is $45,300, while its mining cost is $21,600.

(https://steemitimages.com/p/9vWp6aU4y8kwSZ9Gw15LFL3aMdhmgmBBFMpDJregpdP328vwnwbFiSbBzUQ2nz3DYHPzBEx2BodAhNs6Bx4ZHTr3k4DUUMZZDWK4NZsRWj8L4i5b37WmQYfHn9N7CYn9nccQeue3vKAwqPwV8?format=match&mode=fit&width=640)

According to the model, a sharp drop in energy consumption often signals the best time to exit the market. However, when it rises sharply, it's the perfect time to buy.

Since 2022, the network's overall computational capacity has more than doubled to 389 EH/s, Bitcoin has lost 46% of its value, and the mining yield from a terahash of capacity dropped nearly four-fold to $0.06.

(https://steemitimages.com/p/9vWp6aU4y8kwSZ9Gw15LFL3aMdhmgmBBFMpDJregpdP328DMSTvC1qrbL1GiDEkHm2S2mMssoGZV7kWSgs7SFpKvbBe3ihpf3Pc8j1toDVFE64VqAvHUEQHvVThjywVyWtzMLsn9LxuNqQy2N?format=match&mode=fit&width=640)

There's been no tech revolution in the past few years, and the network's hash rate has grown with support from the rollout of additional equipment. This increases Bitcoin's fundamental value since every mined coin is more expensive and implies long-term price growth, at least to the level of Bitcoin's energy value.

The model's description ends with the following words:

"As humans, our time is limited — it's our most valuable resource. What we choose to put our energy into, and therefore our time into, is our most valuable choice."


StormGain Analytical Group (https://stormgain.com/easy-start)
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Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on September 13, 2023, 10:54:34 AM
It's hodlers' time. Short-term BTC holders' reserves are at a 12-year low

The cryptocurrency market continues to drift amid low liquidity and volatility. Even a slight revival due to Grayscale's interim victory over the SEC didn't affect the metrics. The volume of coins changing hands declined to $2.4 billion a day. These levels were last seen in October 2020.

(https://steemitimages.com/p/vM1pGHgNcyCXUWJECrZbvn1NMPj1oFGUo3gYfF3NNPRD9U1MQi8mvYcgXRJ5S7krGHu16ey5cEbPJZ5YmHA3ZRPL2CPoKbgRnW9QqPa2vdX8fczfFmnrSFx31EqWKxDrsjR9Bgi?format=match&mode=fit&width=640)

The realised profit and loss indicators have also dropped to three-year lows for both derivative and spot trading.

(https://steemitimages.com/p/vM1pGHgNcyCXUWJECrZbvn1NMPj1oFGUo3gYfF3NNPRD9VchvgmCprVkYHHHiAbRzi1PUxRX8DxsED3yjhNXPEi6gZFzSeJzuuRDgf5sCCUCWB5toEX5XHk5gw8CTMz1ZbGrcWJ?format=match&mode=fit&width=640)

Prolonged calm and increased uncertainty have caused short-term holders to flee. A drop in interest in cryptocurrency trading resulted in this group's holdings dropping to 2.5 million BTC, the lowest level since 2011.

On the other end of the spectrum, long-term holders set a new record by accumulating 14.7 million BTC.

(https://steemitimages.com/p/vM1pGHgNcyCXUWJECrZbvn1NMPj1oFGUo3gYfF3NNPRD9WKPZgnNDtnpbyq5iCfGhvceucKip8B5xQu3AMQmnAmUQhsKng5BFRMeVpuxLRfex2637gSvp7fUN71ioU2r1bgvZGA?format=match&mode=fit&width=640)

Periods of calmness are typical for the cryptocurrency market between the sell-off and bull rally phases. If we compare the cycles, starting from reaching major local highs, the current consolidation could last until early 2024.

(https://steemitimages.com/p/vM1pGHgNcyCXUWJECrZbvn1NMPj1oFGUo3gYfF3NNPRD9U4oDxctkyHUNEAz9uffmX4ai1cmywWQb1swHZFei4K1gLrgFGC17pRJQyCEPGY1iiqc7jwq11Cz1h1ey9m7fA5nBxa?format=match&mode=fit&width=640)

This perfectly aligns with the Fed's monetary policy, which acts like a 'financial hoover' for regional markets and risky assets due to the regulator's high key interest rate. The Fed began its tightening cycle in March 2022, and in just two months, the Terra project (LUNA) collapsed because of a decline in investments. That triggered a wave of collapses of interconnected projects, and the market faced a massive coin sell-off.

Note: Terra's capitalisation growth was presumably due to a Ponzi scheme. The investigation is ongoing, and the founder of the project has been arrested.

(https://steemitimages.com/p/vM1pGHgNcyCXUWJECrZbvn1NMPj1oFGUo3gYfF3NNPRD9TJa6L8MU5Lbik3aQN89qJNZZqCE92ZkzkoDvP9shfxTx1uTPMSpxvMt6RYSiEnvuq4XGy5mUsLmPUMuuTVBuXTy86i?format=match&mode=fit&width=640)

The Fed is nearing the end of its hawkish monetary policy cycle as inflation in the US is near its 2% target level, and the banking sector is facing a crisis. Some experts assume that the regulator will stop at the 5.5% level it's already reached and start decreasing the key rate in early 2024.


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(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on September 14, 2023, 02:17:03 PM
Solana storm: A $1.2 billion coin sell-off is coming

The series of 2022 collapses continues to affect the cryptocurrency market. Next up is the Solana network and its close business ties with the collapsed FTX. In mid-January, we warned that the sell-off of the reserves would lead to SOL's price declining. The time has almost come, and traders are betting on the cryptocurrency's fall.

(https://steemitimages.com/p/vM1pGHgNcyCXUWJECrZbvn1NMPj1oFGUo3gYfF3NNPRD9b6efLj35EushZMU8sbk3BqYDHUeGQdj24PXowvfk3i3xAJbBK1HGLeXnfaTYwTv7rGvY6bjHG6zG9pCiLZSNyoyb6W?format=match&mode=fit&width=640)

On 11 September, an updated report was filed in court that covers 36,000 claims from clients for $16 billion and claims from partners, investors, and regulators for $65 billion.

(https://steemitimages.com/p/vM1pGHgNcyCXUWJECrZbvn1NMPj1oFGUo3gYfF3NNPRD9VEHVaEPrGfZCg6uDJRv74aDdmoh5pnEJsuYsoqAGYShwL6xyk9x2NcT616xnR36LbDyLijzK5BKB4MNy6wAN3P92Rt?format=match&mode=fit&width=640)

The company's assets were estimated to be worth $7 billion, including $3.4 billion in cryptocurrency. The bankruptcy commission also hopes to return $17 billion that FTX invested in various projects and several hundred million dollars spent on charity.

In any case, there is a huge shortage of funds that can be used to repay the debt, which will lead to a sell-off of all existing assets. This will affect Solana investors most poignantly since, according to updated information, FTX has SOL worth $1.2 billion.

(https://steemitimages.com/p/vM1pGHgNcyCXUWJECrZbvn1NMPj1oFGUo3gYfF3NNPRD9Up7Sm4n2TMdZpnthefLp9UZYahTwgxzgQjSKvQLDi2no3iRjEKSKmMY6uvo2R5VK3ZyP79HBALJqaweGwJonG3HYpe?format=match&mode=fit&width=640)

The liquidation plan is still undergoing approval. It's most likely to be assigned to Galaxy Digital, which aims to affect the market as little as possible. It's assumed that $100 million worth of assets will be sold every week. As such, the sale, which may begin this month, will last nine months.

(https://steemitimages.com/p/54TLbcUcnRm3sWQK3HKkuAMedF1JSX7yKgEqYjnyTKPwrcRzGDpV83ZXbRSyzKVmUvYZiVNTtGdAExYadrxrVZxGCM3Yz4ku6RYN9hyAgRA6ZxPsU1Zcj1UCxqSNmH3cVSwVnUxcv?format=match&mode=fit&width=640)

Analysts at Matrixport suggest that the liquidation will result in SOL's price dropping to $10 as the sale pace at such volume doesn't play a significant role. The coin reserve of the FTX balance sheet accounts for 16% of the network's total market capitalisation.


StormGain Analytical Group (https://stormgain.com/easy-start)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on September 15, 2023, 12:07:44 PM
Trust and stability metrics for Coinbase, Binance and HTX reserves

Yesterday, Huobi rebranded to HTX. The crypto exchange explained this 10th-anniversary decision: H stands for Huobi, T stands for its close link to the TRON blockchain, and X stands for the Roman numeral for 10 and symbolises the main function ('eXchange').

Many users didn't like the new naming, as it reminded them of the failed FTX.

(https://steemitimages.com/p/LcTxR7u1XKaa3e4T1EBuBP18JezPvjFFo8gNuE9CiKHBn4KUg7yKhT8BqPpvCVtLXAsdKwDYWx4GoDJos4SQdoNyEeT4DC7uzRJAgceTbKYbaNUTU8SpVRbtmUGQRQsMd1XpimAKyYh7RUbpYVk8NnN9k?format=match&mode=fit&width=640)

Justin Sun, officially recognised as the head of the crypto exchange only earlier this year after a number of uncomfortable questions from the community, is also controversial. Sun is also the founder of the TRON blockchain and the TRX coin, and he has been repeatedly accused by journalists of pumping the latter.

(https://steemitimages.com/p/6KincH1mMRDELmKnnjdU4UHt2fC2WfFZBpGeMyg4QTCSizXsAjXaMNomJeP7DnJ4V3vVdta7QFh6Ef4sGLSzyS7eSTTYbSV4ZoeHXidDbtcCS1dU4dJRdR9FxL4kcRG2v4URUNrYS8hQQXYwkaYMyWpTwvMGcJqfBXpz4FDzSgeGpbnvbik53U?format=match&mode=fit&width=640)

It's worth considering Glassnode's research to objectively assess the stability of the three major crypto exchanges, including Huobi. The agency analysed coin flows on Coinbase, Binance and HTX (Huobi) to find patterns similar to the bankrupt FTX.

Reserve reshuffling ratio

This indicator compares the transaction volume ratio to total reserves and is given for each cryptocurrency exchange from 0 to 1. If the exchange balance exceeds reserves over a long period, this may signal poor money management.

(https://steemitimages.com/p/LcTxR7u1XKaa3e4T1EBuBP18JezPvjFFo8gNuE9CiKHBn32pzVNQRvZiYdUpVC15qFBPFLJwa1mkiajazNrAgWkGxjwf4Zj7Bsebgcg6pb4TtB4QTmXFC6DZafniQLbMtLm9fm23Mr36fYgDDG3C436Fg?format=match&mode=fit&width=640)

Coinbase leads in terms of this indicator. Binance has seen spikes in response to major events, such as the FTX collapse, after which the ratio returns to the 5% threshold. The situation is worse for HTX (Huobi), as a reduction in the balance of assets accompanies it. For FTX, the ratio remained consistently in the red zone due to the misappropriation of client funds by Alameda.

Trust rate

The indicator compares inflows/outflows from one crypto exchange to other exchange platforms across different asset groups.

(https://steemitimages.com/p/LcTxR7u1XKaa3e4T1EBuBP18JezPvjFFo8gNuE9CiKHBn2s2fhC8Zu7ryLCEqbLEPv19tJ4grnSpNw3Ntd3KdvsEnEG79qh1Z9GoZf1mJwpdNjBha2UB9kfNHkYxfYhGAXS8MhdbXUVDDY51AjrKzTt1U?format=match&mode=fit&width=640)

Binance has the best numbers, showing mostly an inflow of funds. Coinbase has a strong USDC outflow to Binance. And HTX (Huobi) shows a strong outflow for all key assets.

Whales outflow rate

This indicator captures the withdrawal rate of coins by major players, calculated as the ratio between the weekly outflow of whales and the Bitcoin balance on the exchange.

(https://steemitimages.com/p/LcTxR7u1XKaa3e4T1EBuBP18JezPvjFFo8gNuE9CiKHBn614eP4zEmx4dYVYNQqNntTwMygHZg3GkBhyRQxe3fu6GKjHktUXJZEjuYXiPjb8C5KLCZwqKU4dBA4wckSRfyruBDZNQrvGmsSaU6wfQk31x?format=match&mode=fit&width=640)

Coinbase and Binance are doing fine, but FTX saw an outflow of whales after Terra (LUNA) collapsed in May 2022. HTX (Huobi) faced a whales outflow in recent months amid spreading rumours regarding the crypto exchange's insolvency. This was written about by Adam Cochran, Managing Partner at Cinneamhain Ventures.

Conclusion

By comparing the risk metrics of the three major crypto exchanges to FTX, Glassnode highlights the stable position of Coinbase and Binance. For HTX (Huobi), analysts note that some caution may be justified.


StormGain Analytical Group (https://stormgain.com/easy-start)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on September 18, 2023, 01:33:13 PM
The number of active addresses in Ethereum exceeded 1 million

Ethereum is celebrating the anniversary of its transition to a PoS algorithm. On 15 September 2022, the network declined miners' services in favour of validators. On the same day, SEC Chairman Gary Gensler announced that all PoS coins could be considered securities. According to Gensler, only securities have the privilege to provide passive income.

Promoting this narrative, the regulator sent out pre-enforcement action notifications to crypto companies in the US in early 2023 for engaging in staking. Most followed the SEC's requirements and prohibited their users from staking coins. This has hurt investment attractiveness, causing institutional players to withdraw $108 million from Ethereum funds over the past 12 months. At the same time, some altcoins have experienced an inflow of investments.

(https://steemitimages.com/p/2dk2RRM2dZ8gG2NWUBL8wUVbdrSwVWpp6CGkP99ZhsyZYctiJvRidi1adZcpTyau1zAhJ74EkTjFuxQYZf5hYEPTBzgm1dZNp6HsnazpVQuWit5eBsD8g1Syj42X8qgGM5nJhoSpc7fuHascH3mjQhRpVQfwFu2cnMpmiso3Mg?format=match&mode=fit&width=640)

However, recent proceedings have exposed a weakness in the SEC's reasoning. When considering an appeal by Grayscale, the judges called the regulator's position "arbitrary and capricious" (see more in our article). Grayscale has applied to re-form its Bitcoin trust fund into an ETF. If the SEC is forced to approve it (everything is leading up to this), the company's next move will be to request to re-form its Ethereum fund into an ETF.

It's hard for the SEC to defend its position because the regulator lacks criteria to distinguish cryptocurrencies as commodities or securities. When Gensler was called before Congress, he couldn't answer that question clearly.

In anticipation of permission to open Bitcoin spot ETFs, investment companies rushed to apply for Ethereum spot ETFs. The SEC has now received applications from ARK Investment, 21Shares, and Hashdex, and the first US-based Ethereum futures ETFs are due to roll out in October. With the emergence of these funds, interest in altcoin investments will increase significantly among US investors.

(https://steemitimages.com/p/6VvuHGsoU2QBt9MXeXNdDuyd4Bmd63j7zJymDTWgdcJjnzfMfRhRztytqvM7bcTZKDma4w8qnDBqobyvJbbxFZfJXkaJzi4A8PAht3o5kCvACGXbCTaofQsaCz2QFg?format=match&mode=fit&width=640)

At the same time, the international community's interest in Ethereum and staking is gaining momentum. Almost a quarter of all issued coins is staked for passive income, and the overall inflow covers the outflow from US platforms.

(https://steemitimages.com/p/8DAuGnTQCLptHK3w4xbU3SMDsfFVWre2qvkWUixoMRzeeaRGmGRmUPaYMR2yPLbFSSj3hXx6JeZ1imWh4EL1DwwWXXQe4FdYpJgYjbsQ6pJCSx8KpKq5PJN4NhH5nxCAJajQ1e4oVu2pPGNCpEjz57n3eFXdBFErfpJXYNAYJWi?format=match&mode=fit&width=640)

Ethereum maintains its leadership as a Layer-1 blockchain for various projects. Coinbase's recently launched Base is a Layer-2 network powered by Ethereum. The growing popularity of L2-based products is having a positive effect on Ethereum. On 13 September, for the third time in history, the number of active addresses exceeded 1 million daily.

(https://steemitimages.com/p/2dk2RRM2dZ8gG2NWUBL8wUVbdrSwVWpp6CGkP99ZhsyZYctqBxdWpeus9KAGJaysueS8etuC2sJDP17QqmMxkRCteCnQPtzNQjQKwKT74KsJp7CzpQGiXb94Feb7W6ACUX4Asj1MuMStMoB2HDdZ7Nn9hrC4AkNkZucz8BvRP4?format=match&mode=fit&width=640)

Ethereum is leading the way as a crypto tool for passive income and is the first among blockchains that support smart contracts. The emergence of ETFs in the US will outweigh the negative influence of regulatory tightening and become a new growth driver for the altcoin.


StormGain Analytical Group (https://stormgain.com/easy-start)
(platform for trading, exchanging and storing crypto)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on September 19, 2023, 11:01:21 AM
Players flee Axie Infinity. AXS token's value has fallen three-fold in a year

The NFT sector is suffering huge losses amid the cryptocurrency market's fall, with Play-to-Earn games being affected the most. According to all-time data, Axie Infinity collections still lead the NFT market with 20 million transactions and a $4.3 billion turnover. But in terms of last month's ranking, they're 29th.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSsfiLDToH3cwXTbFrDhpyNPDNivDDS8jErVqUgHvfNwyUigdXnpa165duRnQVrwYWwAC6?format=match&mode=fit&width=640)

Players are fleeing the platform. In January 2022, there were 2.8 million users. Now, however, that number is less than 350,000. In other words, the user base decreased by 88%.

(https://steemitimages.com/p/Zskj9C56UonWToSX8tGXNY8jeXKSedJ2aRhGRj6HDecqrj6ojLfu8C6r2hjJPc57AedHWJFv9uHbJNiGVv5hnevCfLywhDGRb7wAQsHyec6aXyd9ePLz?format=match&mode=fit&width=640)

The reason is simple: the lack of an opportunity to invest and earn. At the same time, the intra-game tokens used to upgrade and buy Axie pets dropped by 95% (valid for both SLP and AXS).

(https://steemitimages.com/p/3W72119s5BjVs3Hye1oHX44R9EcpQD5C9xXzj68nJaq3CeF4USMkhg12Z7cQcNSFHkn9hYtZ5Sx6Kpfsesgta9vzcKnytCETZFFANtwEufHemz6mj3Hsm8?format=match&mode=fit&width=640)

Players see no point in buying additional gaming elements or upgrading characters, as all the mid- and long-term efforts will be destroyed by the tokens' declining value. On top of that, it seems the gameplay itself isn't engaging enough.

Developers who continue to hand out coins from the reserves at a shocking pace are adding fuel to the fire. Another 200 million AXS, a quarter of the total issuance, will be unlocked within 3 years. The soonest such occurrence is expected to happen on 20 October, with 14.8 million AXS worth $67 million being unlocked.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSrwyJ58uQWau5dNq6LLAejS2C44m6nPLD6W3XgMs9of4itbhaNFkmBJLsYAnfBp4PhfHp?format=match&mode=fit&width=640)

Earning is the key to attracting players in PtE-model games. Since February 2022, players have mostly suffered losses, which resulted in expected disappointment. If the trend persists, AXS will drop even further, and the last users will leave the game.


StormGain Analytical Group (https://stormgain.com/easy-start)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on September 20, 2023, 10:39:00 AM
Escalation of the Binance vs SEC conflict

The SEC sued the crypto exchange and its CEO Changpeng Zhao for violating a number of US laws. These include the parent company (Binance Ltd) accessing American clients' funds, mixing client funds with company funds, violating the Securities Act (the SEC recognises a number of cryptocurrencies as securities) and misleading investors.

The regulator requested an extensive list of documents to conduct its investigation and received 220 documents that "consist of unintelligible screenshots and documents without dates or signatures", the SEC claimed. In response to a request from the SEC for some documents, the crypto exchange's subsidiary, BAM Trading, refused to provide them, saying that they simply didn't exist. However, the regulator managed to receive over 6,500 documents from the company that audited BAM.

The regulator has also called Binance US executives as witnesses and is particularly interested in the testimony of CEO Brian Schroeder. Instead of top executives, the crypto exchange provided mid-level managers and stated that the whereabouts of Schroeder, who abruptly resigned on 12 September, were unknown.

Since filing the lawsuit in June 2023, 10 top executives have resigned from the crypto exchange:

- Senior Director of Investigations Matthew Price
- Global Vice President of Marketing & Communications Steve Milton
- General Counsel Han Ng
- Chief Strategy Officer Patrick Hillmann
- Senior Vice President Stephen Christie
- Head of Asia and the Pacific Region Leon Fung
- Head of Product Mayur Kamat
- Vice President for Eastern Europe, Turkey, CIS, Australia and New Zealand Gleb Kostarev
- Executive Vice President Helen Hai
- US division CEO Brian Schroeder

On 15 September, the SEC accused the cryptocurrency exchange and CEO Changpeng Zhao of withholding information and obstructing the investigation. The regulator petitioned the court to conduct a forensic audit, subpoena key witnesses, and issue a court order to provide all requested documents.

A major hitch for the regulator is the link between Binance US and Ceffu. Binance US claims that it only used Ceffu as a software provider. However, prior to February 2023, Ceffu was called Binance Custody (legal name: Bifinity). In financial reports, Changpeng Zhao is listed as the sole shareholder.

(https://steemitimages.com/p/7258xSVeJbKkzXhyseBP4PYz11eBDT8sW2oR1a4vfVFS6Hu5K3P8P9XwDUPuRk3cK3p82tet4VWRPhPTuiy5fmQfVfn88fBRiHUewWtcjTQKyoxSDALUbCyqFVzsj3MPfV2sgAuMvjNog?format=match&mode=fit&width=640)

The SEC claims that US funds could flow out through Ceffu and that the company plays a much larger role than just that of an "equipment provider". The regulator needs the requested documents and testimony that Binance has persistently refused to provide in order to confirm the ties between the two entities.

Due to the controversy and some restrictions imposed, there has been a significant outflow of employees and clients from Binance US. In one year's time, the exchange's turnover dropped 50-fold from $230 million to $5 million.

(https://steemitimages.com/p/7258xSVeJbKkzXhyseBP4PYz11eBDT8sW2oR1a4vfVFS6HyhDpPnMW6wd6iYKyK5NtSitBnsPxUgcC6pkMhRyF4R2L5yXfcpG1JSfnxVKgY8hwCLwzPQGRPXKn9QfAqoXVNW2dE3qf3HG?format=match&mode=fit&width=640)

The problems also affected the international division, which saw the largest decline in market share among major players.

(https://steemitimages.com/p/TZjG7hXReeVoAvXt2X6pMxYAb3q65xMju8wryWxKrsghkQ5WXTZDSWtLLNh6H1PGVWQjvDQxMTmgM7qsPiNYsrfJBnBQXCvAMTdewTykxRhwV4GiGM59eYW1ANDQrAHKKAhUQjXXdH1TyG?format=match&mode=fit&width=640)

Binance's own coin, BNB, also went underwater this year and is trading at a 12% discount.

(https://steemitimages.com/p/TZjG7hXReeVoAvXt2X6pMxYAb3q65xMju8wryWxKrsghkPJgmShzLZ5SNY7vtaBohdJfoudw7iUCQhwgotpApxDYtreedGr1ywrBi7vyxYHuix98WZFPztxX3kizAP8mudyXZ9xhs2hhpJ?format=match&mode=fit&width=640)

For its defence strategy, Binance decided to drag the trial out and failed to provide the requested documents, calling the SEC's requirements "unduly burdensome".


StormGain Analytical Group (https://stormgain.com/easy-start)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on September 21, 2023, 11:48:34 AM
Crypto market participants' sentiment

Institutional investors using ETFs increasingly resemble short-term holders in terms of their behaviour. After news emerged of mass applications for Bitcoin spot ETFs to the SEC, they increased investments at a record pace for the past year, investing $200 million a week.

Not getting the desired permission within a month and being disappointed by crypto trends, institutional investors began to withdraw their capital. Over the past nine weeks, the outflow totalled $455 million.

(https://steemitimages.com/p/9vWp6aU4y8kwSZ9Gw15LFL3aMdhmgmBBFMpDJregpdP329WVvEe42aZiU3xkzCRN5CCypfmfXW28uLEs4wxQruhEVRzAuzce7sS3cTync6ikpHH4Bb6MDQRDKCTgFKkt7CC8wt6MqJmKpFUpN?format=match&mode=fit&width=640)

Short-term Bitcoin holders are showing similar behaviour. After skipping the accumulation phase in early 2023, they have bought up BTC between $27,000 and $30,000.

(https://steemitimages.com/p/3zpz8WQe4SNGWd7TzozjPgq3rggennavDx3XPY35pEAVnpysnsM7bPWVaQwKce76BJEtJph3jdAEwDjdamPxcnvd23gdnfKM2N52WnddwhBaAcmGuabtiP4ZhCQbnkQKdW86pzgTrHqAuEJRHksg?format=match&mode=fit&width=640)

However, the loss of momentum and the subsequent correction disappointed this group, too, resulting in their total reserves declining to 12-year lows. On the contrary, long-term holders have set a new record by accumulating 14.7 million BTC.

(https://steemitimages.com/p/9vWp6aU4y8kwSZ9Gw15LFL3aMdhmgmBBFMpDJregpdP328LKbSHqj9wHdZHSPGKCZP9FAroo4fLxmW2wRkkGa8n6Nup2Dz447ufsyGypaNK8hBDgbAeyhETTNaa33DeaiZUBFuSborHsezN38?format=match&mode=fit&width=640)

Despite some groups' mood swings, the market remains neutral. Realised weekly profits and losses account for only 0.02% of market capitalisation. During major shocks, that figure reached 3%.

(https://steemitimages.com/p/9vWp6aU4y8kwSZ9Gw15LFL3aMdhmgmBBFMpDJregpdP328ni936jNDLJSiZ5SS8frRFL9N1neBTemrZK99mGC1vcQbRZ3UTGpF8yAnuedGJv4tiv6tBkHsaNMY2nuQPWnqnnNmNvBhyxMdZ8J?format=match&mode=fit&width=640)

In 2023, new investors were just starting to show interest in Bitcoin, but the indicator of fresh capital inflow still didn't surpass the median price.

(https://steemitimages.com/p/9vWp6aU4y8kwSZ9Gw15LFL3aMdhmgmBBFMpDJregpdP328L3ArrcQpcZ22TqdFbmmRD4JMQN9T28ZduYvh6meRxoZnUVKPo7eD4ADn1hQWWz3iJZMht4BHHyd4mutzYUvzT7XQhQAXM8Di84v?format=match&mode=fit&width=640)

The flow of investments into cryptocurrency is limited by the Fed's high rates, which are enticing large capital to stick to the stable yield on Treasury bonds, as well as the tightening of crypto regulations with the prosecution of individual players. However, that doesn't lessen the growing interest in cryptocurrencies around the world, and the approval of Bitcoin spot ETFs in the US has the potential to be a leading factor in a new rally.


StormGain Analytical Group (https://stormgain.com/easy-start)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on September 22, 2023, 11:13:17 AM
Why Maker (MKR) grew by 160% in 2023

MKR is a management token on the decentralised Maker platform. Its holders can either make suggestions on changes to the ecosystem or vote for innovations by sending coins. The main product of DAO Maker is the DAI stablecoin, launched in 2017 and pegged to the US dollar.

To mint DAI, users must make an excess deposit in cryptocurrency, the size of which varies between 110% and 200%. To get 100 coins, one must deposit Ethereum worth $150. In other words, 150% of the issued volume is reserved in a smart contract. If ETH's price declines and approaches 100%, the collateral will be sold for the liquidators' DAI at auction. After all settlements with participants are done, DAI are burned.

This system has its drawbacks, but it has survived several crypto crises, including the one that hit UST (Terra). In terms of stability, the coin is performing better than the USDC issued by the US emitter. For the past two years, DAI traded at a 10-cent discount for 20 minutes, with USDC taking 23 minutes.

(https://steemitimages.com/p/2r8F9rTBenJQfQgENfxADE6EVYabczqmSF5KeWefV5WL9WDmJctXZSG6kDh95aKbWf7nu9WGzRUBb7bfHyrjmoQyi2ht51A5CKHtwo4BLJoTSoB9fcpvdePqBYdQAjcBx?format=match&mode=fit&width=640)

DAI ranks first by market capitalisation among decentralised stablecoins with a $5.5 billion market cap. A significant spike in the indicator happened in August when users voted for an increase of the staking floating rate to 8% APY. Since then, the capitalisation has skyrocketed to $1 billion.

(https://steemitimages.com/p/2r8F9rTBenJQfQgENfxADE6EVYabczqmSF5KeWefV5WL9WH4LUgJuzevgCvxNimszpvyvrJbWAE6326qDqmqi43zusR3awZR3m1GMVPtcMoRvdyi2B8SPhJzRntLZXG38?format=match&mode=fit&width=640)

The rate hike was possible due to the system's yield increase, including investments in US Treasury bonds. For the past six months, community revenue increased 4.4 times to $185 million, and the expected annual profits jumped from $15.5 million to $57.9 million.

(https://steemitimages.com/p/2r8F9rTBenJQfQgENfxADE6EVYabczqmSF5KeWefV5WL9WGrJg6N5Qwn6ZoQdq4kC8UNXnt7PcBzkxdkJABo8LLK1ffrnjzXVpw7EMZdoTR15MBE4cJXbJztAFTJ18Mnn?format=match&mode=fit&width=640)

The increase in DAI coins also has a beneficial effect on MKR, as additional interest paid by borrowers goes toward purchasing MKR that is subsequently burnt.

(https://steemitimages.com/p/2r8F9rTBenJQfQgENfxADE6EVYabczqmSF5KeWefV5WL9WDtPo6qQD5sXrbDhJw8HtPfrLq6973tYXvi3dnWDhv7yJyVNWKzc2GEBL64H5zt7x47sZcsh1V3qU6e7DY9U?format=match&mode=fit&width=640)

However, potential investors should be careful. If a large borrower is liquidated, the value of the collateral drops below 100%, and there is a shortage of DAI in MakerDAO's reserves, the deficit will be covered by an additional issuance of MKR.


StormGain Analytical Group (https://stormgain.com/easy-start)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on September 25, 2023, 10:26:15 AM
Ethereum developers raise the alarm about too many validators

After the switch to PoS, the network began to rely on validators instead of miners, and users were happy with the opportunities to make passive income. Ethereum staking became so attractive that even pressure on the staking programme in the US and its rejection by some crypto exchanges didn't affect the increase in the number of validators. There are now over 800,000 validators, and the number is expected to reach 1 million in November and 2 million by mid-2024.

(https://steemitimages.com/p/W5LtFUPm6g7111bbdcuxu3bfUg5qaCq8seb5paCtrrT7zMkoEkddmPhQ4Cw3cQfJFnvrnpH16xJXjQ8rCYyEk7MHDV56wGLQEJ1zTuEt8hp8jeyLJxx7oLNZMSRnbMAhMFCh4RknAL7vruyXcjJHnat11AFDG?format=match&mode=fit&width=640)

On the one hand, a large number of validators provide a high degree of decentralisation and network security. It also supports ETH's value since the reduction in the coin's circulating supply increases deflationary pressure.

(https://steemitimages.com/p/W5LtFUPm6g7111bbdcuxu3bfUg5qaCq8seb5paCtrrT7zMZt4wRcy22PnLqbJ3Ddpdw9nyfYvC3o4AS3Fv2XyBrjbUtkQZgRmBts1fetenczWAmt7WfG1BZZRToF8RLeodcuEYcP7a6LoDJ2w3J7bxXG7qrFQ?format=match&mode=fit&width=640)

On the other hand, the load on the network is increasing since participants have to exchange messages to validate blocks. Sometimes, this causes full-scale failures and delays in completing transactions, just like what was seen in May 2023 (read more on the issue in the developers' forum).

(https://steemitimages.com/p/W5LtFUPm6g7111bbdcuxu3bfUg5qaCq8seb5paCtrrT7zNdYSom8vBubXvKn5QQEgDKcfW4EAZhBUcVpie6A2pXm9DQX7QMMJdwdgJiE94aaq1732MLocH6YvShaifxfrEsAoeg8mPndgSddK8DcD6ytNzM5Q?format=match&mode=fit&width=640)

ETH's developers are looking for ways to reduce the inflow of validators. The first method, which has already been included in the new update, is to limit validator activations to 8 per epoch. The current number is 12 and could be expanded dynamically. The update is due to arrive in late 2023 or early 2024.

(https://steemitimages.com/p/W5LtFUPm6g7111bbdcuxu3bfUg5qaCq8seb5paCtrrT7zMZY5sHGV8scdvLabGPEs9gMCDMq5hGqEMEPBNCaafDeVqSM78ovfB9fs5DYvZCPVTHE7WboC1irDqPVePztauNo64BWdd4txxbLmpQmJNujCmNEr?format=match&mode=fit&width=640)

The limitation on the inflow of validators will give developers additional time to come up with a solution. One promising option is to cut the profitability of staking by limiting the number of coins staked as opposed to the number of validators (as is the current situation).

(https://steemitimages.com/p/W5LtFUPm6g7111bbdcuxu3bfUg5qaCq8seb5paCtrrT7zMZgdNGm8AxDr59bmF9t881fXcG7XydgDGH8bMsmShvy8M8SyzCjB5NgRoYCuNDibir4GzuAMbw3hFtXcqpMjN195ENxNEvJcgLPaPmM86frCUF9Q?format=match&mode=fit&width=640)

In other words, the more ETH is staked, the lower the profitability is. There are currently 27 million ETH, or 23% of the total supply, staked on the network, and the yield is 3.8% APY.

(https://steemitimages.com/p/W5LtFUPm6g7111bbdcuxu3bfUg5qaCq8seb5paCtrrT7zS1gK4dftVino6tE81eJXV4B2Cykx4Rhet7zXtado5WdGyEdAuUMHKBxE8tHoG3cv5LLcQ1JCDCSGSkMyVnezFYXukrpGsTNFj79Le662pTqog6yC?format=match&mode=fit&width=640)

Another thing being considered is the introduction of a floating minimum balance with the exclusion of small players during periods of high network loads, the introduction of fines when exceeding the maximum number of validators, and the differentiation of remuneration depending on the amount each validator stakes.

Some methods are difficult to implement, while others lead to increased centralisation. This is exactly why developers need a delay to make an informed decision.


StormGain Analytical Group (https://stormgain.com/easy-start)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on September 26, 2023, 10:23:04 AM
Changes in the stablecoin market

Stablecoin market capitalisation has decreased for the 18th month in a row, declining to $124 billion. This is the lowest it's been since September 2021. The share in the total volume of coins also continues to decline, reaching 11.6% of the crypto market's total capitalisation. It reached the highest point of 16.6% in December 2022.

(https://steemitimages.com/p/JvFFVmatwWHRfvmtd53nmEJ94xpKydwmbSC5H5svBACH7yFXGarp5GrwkVrHjTBMxK85QqeBMFcTBFrDpk2BJwy5N2WKhuKUERZ1Rs75u6FinSZDFzJTou7WYcNXj3DB3tvuDUP9Ev?format=match&mode=fit&width=640)

Trading volumes that involve stablecoins may also continue their downward trend. They amounted to $462 billion in August and as low as $174 billion in the first 18 days of September. Last year, the trading volume exceeded $1 billion.

(https://steemitimages.com/p/JvFFVmatwWHRfvmtd53nmEJ94xpKydwmbSC5H5svBACH7xz8nZyMbwjMvf3TYwhCxkCcCxFLUMtyGAEEuf9Xtr1gCBXjRwdsPDzZRkLa2AEXAafDPC73FKzPSHGqZkznkSnLuu2Vdg?format=match&mode=fit&width=640)

Among the old-school stablecoins, only USDT strengthened its position over the past 12 months, reaching a market capitalisation of $83 billion. USDC lost about half of its value, dropping to a capitalisation of $25 billion after the March crisis in US banks that held the coin as collateral. BUSD is also living out its last days. In February, the stablecoin will no longer be supported by Paxos and Binance.

(https://steemitimages.com/p/JvFFVmatwWHRfvmtd53nmEJ94xpKydwmbSC5H5svBACH7z2vny2oggiAfdHZx4yjJv1DYA1NzbU3Nb32Usr7Zw5KxaSNdPUiVzPJh97HcbrtPpRrAbrgMeT5FPCgtvy6oXo6iCrfNN?format=match&mode=fit&width=640)

Binance is garnering interest in newer coins. Since March, the crypto exchange has promoted zero-commission transactions on TUSD, bursting trading volumes several times over. However, the stablecoin's lost peg to the US dollar in June has disappointed users.

(https://steemitimages.com/p/JvFFVmatwWHRfvmtd53nmEJ94xpKydwmbSC5H5svBACH7yVyyW6Ne8hb2MRjijEgf2mMZNWLsUzYhHzqyZapycJAvBdeoJGZMuGHGA6YGfFHbMtpJc8y1ptg4ontPWzLEEJLGsQscS?format=match&mode=fit&width=640)

Binance now offers zero commissions on trading FDUSD. The coin of the Hong Kong-based First Digital Group was released three months ago. Compared to August, its capitalisation increased by 22% to $394 million.

(https://steemitimages.com/p/JvFFVmatwWHRfvmtd53nmEJ94xpKydwmbSC5H5svBACH81TbbitB9zfCo2TwvMWmsFQZzHXERpf2KioRwvF38pXMdmnRgeCnBacKQbj1ntS6wPSFQHCr3dpmPcA4YzzXxZm8HPbfot?format=match&mode=fit&width=640)

Capitalisation and trade volume drop, on the one hand, due to a significant rise in cryptocurrencies' value. Since stablecoins serve as a link between fiat money and digital assets, interest in them leads to Bitcoin's price growth. However, over the past six months, it's been stuck within the $25,000-$30,000 range.

(https://steemitimages.com/p/JvFFVmatwWHRfvmtd53nmEJ94xpKydwmbSC5H5svBACH81CvmNg7hXt9J8gvnVKGSouY2Pfabjh7d1vSUrPyXA5Q5oNfsFsBTKxRVgU39sGxrPwgoZEZCFijnAWBa7HRLNDJM7cSnS?format=match&mode=fit&width=640)

On the other hand, the trust in stablecoins was undermined by the collapse of some projects, unpegging USDC and growing pressure from the US and European regulators. This has reduced interest in stablecoins as a store of value.


StormGain Analytical Group (https://stormgain.com/easy-start)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on September 27, 2023, 02:30:36 PM
The cryptocurrency market's depth declines

For the past six months, many cryptocurrencies have lingered in a pretty narrow range. This is due to a lack of factors capable of significantly affecting prices and the continued outflow of capital. The latter reason is best illustrated by a decline in crypto exchanges' reserves, which have dropped to 2 million BTC.

(https://steemitimages.com/p/vM1pGHgNcyCXUWJECrZbvn1NMPj1oFGUo3gYfF3NNPRD9bNtpUde4ZFpzkTNuwGST4su9q7nD6CkoAZg9q7DTYxWs3P7wTFBhhWv9qyFSq2Z2d2og7EZMAPiA6vKkU4cfpCFjdQ?format=match&mode=fit&width=640)

Market players prefer independent storage and transfer their coins to cold wallets after making a purchase. Interest in active speculation is dropping. This is also seen in the decline in the market's depth (the volume of orders in both directions from the current price) following the collapse of FTX in November 2022.

(https://steemitimages.com/p/vM1pGHgNcyCXUWJECrZbvn1NMPj1oFGUo3gYfF3NNPRD9aJbuhKiRN9fWgCQy4Ukiame2Uhj3BY1AidrsceXfcQJDMc1xTNt6BFy29p97NSDBV3KAAXpExAbv3xPHorBqz2yJer?format=match&mode=fit&width=640)

The trend is true for both Bitcoin and altcoins.

(https://steemitimages.com/p/vM1pGHgNcyCXUWJECrZbvn1NMPj1oFGUo3gYfF3NNPRD9afFuKzrBaACLKpYevRanCQDG7e3snPqLS1phkZsaqG5Tkhy4Rh6dGhPJWWmwLYPaWGjc3r4z125bwXCVPAHFkszkzA?format=match&mode=fit&width=640)

A decline in the cryptocurrency market's depth poses several threats. First, the amplitude of price fluctuations that can be triggered by minor events increases. Second, there's an increased risk of price manipulation, where a large market maker sets a movement in their desired direction to then dump tokens.

In late August, for example, the market faced such effects after news emerged of Grayscale's interim victory over the SEC. In four hours, Bitcoin jumped from $26,000 to $28,000 and, a day later, returned to the starting point. Ripple (XRP) had a more significant journey in July when we warned why "The victory is short-lived". (https://stormgain.com/blog/ripple-victory-may-be-hort-lived)

(https://steemitimages.com/p/vM1pGHgNcyCXUWJECrZbvn1NMPj1oFGUo3gYfF3NNPRD9bPXBnHxTmRWDb75f21xeckaEKHgbRiZW44SzeuZeBLWWVT6Uf7f7fjn7f6Kxjjcvz5DV2QLF81GzjsHqARjZBcPu6N?format=match&mode=fit&width=640)

In this situation, cryptocurrency supporters prefer the most stable strategy: buy and hold. MicroStrategy, the largest public Bitcoin holder, announced yesterday that it has bought 5,445 coins at an average price of $27,000 over the past two months.

(https://steemitimages.com/p/vM1pGHgNcyCXUWJECrZbvn1NMPj1oFGUo3gYfF3NNPRD9TEgjTouMjSTGKvYxVzG4eiD1SC5MJ3vL42MxW26AWSeV7szLbHnFEFZCip4Y7gmUsSffP4RszCGcNxPZm9hNQ8SedL?format=match&mode=fit&width=640)

The company now has reserves of 158,245 BTC worth $4.2 billion at an average purchase price of $29,600. According to MicroStrategy CEO Michael Saylor, Bitcoin will reach $500,000 in the next 10 years.


StormGain Analytical Group (https://stormgain.com/easy-start)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on September 28, 2023, 11:09:26 AM
Why the record number of BTC transactions isn't leading to higher fees

Since May 2023, the number of daily transactions has consistently exceeded 500,000, a number that was previously unattainable. The amount of information that can be transmitted via the network is very limited, so this spike in transactions should lead to higher fees.

(https://steemitimages.com/p/5ShzsKnKF7vppGeV6VN3m3GSDcLoRruAhMmifZtFSDkYScMMp9rUZuATyUc9LReAFU1Qz1FPq2fHPMTkRBksMubG7V51UoVV6TUpDobp2qnf1XMHQBVzfB6rEDvmG7RECFomPPARPx36ZhoiYCwVKE9t?format=match&mode=fit&width=640)

That usually happens since users offer a bigger reward for miners to have their transaction added to the block as soon as possible. However, now, paying half a dollar is sufficient to send funds from one wallet to another.

(https://steemitimages.com/p/5ShzsKnKF7vppGeV6VN3m3GSDcLoRruAhMmifZtFSDkYScxe9LMpumzZEfxXDLgSP8otsXR4fEj7jsSPxeCKTrAfsndFLpgrNdUmRRdCXE7couB3HmpdXqXDVyvXNMSmE8jo2iEKmKfpJSU8QAarMMmG?format=match&mode=fit&width=640)

The reason for the discrepancy lies in the distribution of digital objects via the Bitcoin network. The first to appear were Ordinals, the same thing as non-fungible tokens as NFTs on the Ethereum network. The excitement didn't last long, though. It endured only from about February to April. After that, interest switched to BRC-20, which are quasi-tokens since they're minted and transmitted with Bitcoin using the JSON text format.

While Ordinals accounted for about 7.5% of total transactions, BRC-20 still accounts for 40% to 60%.

(https://steemitimages.com/p/5ShzsKnKF7vppGeV6VN3m3GSDcLoRruAhMmifZtFSDkYScMHW1C2CPssTe1WUB5Zi2jXGrSqMkA7toAPsVFbACBrxCBm2aAPonbEvrc7bW9nBw1U3GTgQKQWfDuBDGcbbFfxMXHFEbghQy5bfitmN9En?format=match&mode=fit&width=640)

However, unlike pictures, tokens don't need a lot of space in a block. They can be compared to sand that takes up all the free space in a jewelry box. If a small number of transmitted images took up 20% to 50% of the block, BRC-20 still fits in 20%. This fact led to higher total transactions while keeping fees at an average level.

(https://steemitimages.com/p/5ShzsKnKF7vppGeV6VN3m3GSDcLoRruAhMmifZtFSDkYScK5ep5dywVXjpGkQCaNuxdBuVUqgKTPJkhhJgs4fq4w4doBNMmfkb3ouTr9TW8bjwyR7wB6swurzjgj5RDFE86o4BMsTBeXLTXz9M4bNuyY?format=match&mode=fit&width=640)

However, the interest in tokens isn't exactly harmless since it leads to more unspent UTXO transactions. Casey Rodarmor, the man who brought about Ordinals, came up with a new Runes protocol to reduce the negative consequences of the fast-paced minting of new quasi-tokens. According to Rodarmor, 99.9% of them don't carry a payload and simultaneously "spam Bitcoin with 'junk' UTXOs".

(https://steemitimages.com/p/5ShzsKnKF7vppGeV6VN3m3GSDcLoRruAhMmifZtFSDkYScKCujZQ7RTeTaSBsCPjypJcsGG9MDwhimAUdBp7B7L4u7kBV1jc9vx2Y7CavXvWdzpf6u9Jz3in3gat2cX4SSUuc3YdfRE3Jjas8EhyFefg?format=match&mode=fit&width=640)

The Bitcoin Frontier Fund offered $100,000 in prize money to the first #DevelopmentTeam  to write a programme for sending tokens on the Runes protocol.


StormGain Analytical Group (https://stormgain.com/easy-start)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on October 02, 2023, 12:58:49 PM
When is the best time to buy Bitcoin?

With the rise in cryptocurrencies' popularity and adoption, more and more people are considering investing in them. This is especially true for the first and most famous cryptocurrency, Bitcoin, whose price changes affect the entire cryptocurrency market. So, the question "When is the best time to buy and sell Bitcoin?" is crucial for every crypto investor and trader.

What is Bitcoin?

Bitcoin is the world's first cryptocurrency, launched on 3 January 2009 by an anonymous developer known only by the pseudonym Satoshi Nakamoto. It's a blockchain-based decentralised payment system that doesn't require a third party to operate. Cryptographic methods are used in the system to ensure that it functions and is protected. At the same time, all information about transactions between system addresses is available to everyone.

The root problem with conventional currency is all the trust that's required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust. — Satoshi Nakamoto.

Payments between the two parties occur without intermediaries and are irreversible since there's no mechanism for cancelling a confirmed transaction. Nobody can block funds on a Bitcoin address, even temporarily, except for the person who knows the private key. Nevertheless, multi-signature technology allows a third party to be involved as an arbiter and to implement reversible transactions.

Bitcoin price history

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYStQ9fRW649bRDD4HL8VkXY7BQhDErRJFXqAUEkMfd1uZjRRWYxg7QxwmhsFRtctnfHVYr?format=match&mode=fit&width=640)

For over half a year after its creation, Bitcoin had no monetary value. The first exchange of Bitcoins for fiat money took place on 9 September 2009, when Marty Malmi sold 5050 Bitcoins for $5.02. The very first use of Bitcoin as a means of payment took place in May 2010. Laszlo Hanets from Florida bought two pizzas for 10,000 BTC, making these two pizzas the most expensive pizzas in history. Just two months after this event, Bitcoin trading was launched on the MtGox exchange.

(https://steemitimages.com/p/32FTXiZsHoAW6noHJDhrg3W8ZKHVFSsLYM859aTDCF8iErEuwxe49CSRoc2QzyJwdtRGo3YKE7x5oeJQjFf6p4NCVJhw795JBq2XD2TP8TyiHuFFZYKm3whCzCJDw7A9p34EbGnRu7qbQkmk?format=match&mode=fit&width=640)

In February 2011, the price of Bitcoin exceeded $1 for the first time. Then, in June, it exceeded $10. Soon after, the price entered a long period of stagnation. A new noticeable rise began in April 2013, when the price of Bitcoin surpassed $100. In November of the same year, another wave of explosive price growth occurred, briefly exceeding $1,000, after which a period of decline began.

(https://steemitimages.com/p/32FTXiZsHoAW6noHJDhrg3W8ZKHVFSsLYM859aTDCF8iErLu8r7X9YJV8vAGXDZKVSLATf6pxMggskr5aoQiH9issqXLomGd2kMuuCKNCTU38vRNpKzC5zR49CHR12aAE5q7DF9XW3PBawnN?format=match&mode=fit&width=640)

Bitcoin started to show steady growth again at the end of 2015. In February 2017, it broke through the previous all-time high and reached $19,665.39 on 18 December. After that, a long bearish trend began on the crypto market and lasted until the beginning of 2019. In the first half of 2019, the price was actively recovering, but it didn't reach the previous all-time high, and in the second half of the year, it experienced a decline again.

The bullish trend returned in early 2020 before being briefly interrupted by the panic in the cryptocurrency market in March and then quickly resuming. In December 2020, the Bitcoin price exceeded its all-time high and continued to rise.

On 13 March 2021, Bitcoin's price reached $63,503. After a summer correction that resulted in the price falling by more than two times, the growth continued. The price reached its current all-time high of $68,789 on 10 November.

Over the past year, Bitcoin's price has seen limited movement, failing to rise above $25,000 from June 2022 until March 2023. Once it did that, it caught investors' attention. Consequently, the price of Bitcoin turned bullish after a prolonged period of stagnation. In April 2023, Bitcoin finally exceeded $30,000. However, it is currently trading within the range of $28,000 to $30,000.

When is the best time to buy and sell Bitcoin?

Most likely, everyone knows the rule "buy low, sell high". Therefore, the logical answer to the question "Should I buy Bitcoin when it's low?" is "Yes". But how can you tell if Bitcoin's current price is low or not? The problem is that no one really knows how much Bitcoin will be worth in the future. One can only assume with a certain probability using analysis. In any case, when deciding whether to buy or sell Bitcoin, remember the following important rules:

- Although Bitcoin is a less risky asset than altcoins, it's still a high-risk investment. Don't invest more money in it than you can afford to lose.
- Always do your own research. Create your own investment or trading strategy. Blind adherence to someone else's recommendations is highly likely to lead you to lose your money.
- Control your emotions and never buy or sell under their influence. Many crypto investors have suffered losses since they bought under the influence of fear of missing out on profits and sold following the panic during the price fall.

When is the best time to buy?

Even if you consider Bitcoin to be a long-term investment and stick to a buy-and-hold strategy, it still makes sense not to buy if the price has recently skyrocketed but to do it during a correction.

If you're interested in short-term investments, or even more so in Bitcoin trading, then you can't do without technical analysis. In this case, you first need to identify the current trend. You need to determine the time frame of a trend depending on how long you plan to hold Bitcoins before selling.

If the price is in a bullish trend, the best time to buy would be to bounce off the trendline. If the trend is bearish, then the purchase should be made only when there are signs of an imminent trend change.

When is the best time to sell?

Many long-term investors use a simple principle to determine when to sell Bitcoins. They set the selling price in advance based on the analysis of the asset and their own approach to risk management and sell when the price has reached this level.

Short-term investors and traders have to resort to technical analysis again. Selling an asset in such cases during a bullish trend is usually carried out under the following conditions depending on the chosen trading or investing strategy:

- Reaching a quite strong resistance line.
- Signs of an imminent trend change.
- The price hits a psychological threshold, such as a round number.

The bear market is generally unfavourable for long trades, especially for beginners. Of course, you can make money with long trades in a bear market, but investing and trading in that environment carries increased risks.

Should I buy Bitcoin today?

The answer to this question depends on the investment strategy you choose. As for the near-term prospects for Bitcoin's price, it has recently dropped below several important support levels, and there's a risk of its further fall. If the price drops below $40,000, the closest strong support level is $29,000.
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on October 03, 2023, 04:20:42 PM
Uptober: What's behind cryptocurrencies' growth?

October is traditionally a good month for cryptocurrencies. Historically, Bitcoin has closed the month positively in 8 out of 10 cases for a 22% average increase.

(https://steemitimages.com/p/26uUsAjKTsXCBRzTxRJWxpz7qLMdK4Nq6Ha3QAmrmWNLCRifJPZPcWH2EMK3JHakRdfEh7RNDEsswEMCwscuiCPrEV7YcsP8yr2YUt43btY5ppbdoCPkmzknKcyPpcdsh5d5d2cBLbGxtyYnNoGws9b5WVFVV4HUnTYQpn?format=match&mode=fit&width=640)

There are positive factors behind every major growth. This time, the hopes for Uptober are fuelled by the upcoming launch of Ethereum futures ETFs in the US and anticipation that Bitcoin spot ETFs will be approved in the next six months.

There are several things behind these events. First, the SEC lost its attempt to block the conversion of Grayscale's Bitcoin trust fund into an ETF after the latter appealed. The judicial commission called the regulator's position "arbitrary and capricious". Unless the SEC can find a stronger justification, the transformation will happen "automatically" after the appeal deadlines expire.

Second, in September, the SEC Chairman was again called before the Financial Services Committee, where several congressmen demanded that Gary Gensler approve ETF applications. Gensler was also criticised for lacking clear criteria for dividing cryptocurrencies into goods and securities.

Third, Valkyrie received permission to launch an ETF with combined contracts for Bitcoin and Ethereum futures. This is the first altcoin ETF in the US to start operating on 3 October. Another 15 Ethereum ETF applications are expected to be approved next, with some companies rushing to apply to launch BTC+ETH ETFs on Friday.

(https://steemitimages.com/p/26uUsAjKTsXCBRzTxRJWxpz7qLMdK4Nq6Ha3QAmrmWNLCRebLaWdRfomE6tq9KVmYkyhpkgdPoBEK2MXSMSkXREVUEQFbfzzqKVboQE5agCoTb5kxSk7WuaWhfBZ9yfwyVzCynEYMNiBTx1tgGBivcf6ihUzNW1SbJmarz?format=match&mode=fit&width=640)

Institutional interest in cryptocurrencies is difficult to overestimate. Currently, the total volume under management in investment funds worldwide doesn't exceed $40 billion, of which the US accounts for almost 80%. BlackRock alone operates $10 trillion. The company has shown interest in cryptocurrencies by applying to the SEC for a spot ETF. Its CEO, Larry Fink, also called Bitcoin an international asset and digital gold.

(https://steemitimages.com/p/26uUsAjKTsXCBRzTxRJWxpz7qLMdK4Nq6Ha3QAmrmWNLCRig3hB29KMJLBRuS3fUgbYLZXoKXF3yZnUZBzLsySYWd2CAQTmxNZhUKH2GefRYNF4YTLPoWu8mqSQQEY2Zorxz4WrgroiNxPHboHuA7CMJ3wKpg7YVALbAiz?format=match&mode=fit&width=640)

Futures contract ETFs have some drawbacks. For example, some profit gets burned when moving from one month to another. That's why a real investment boom is expected with the launch of spot ETFs, drawback-free.

(https://steemitimages.com/p/26uUsAjKTsXCBRzTxRJWxpz7qLMdK4Nq6Ha3QAmrmWNLCRe78jek9FgaT4xuBsqzi4Cf2inwUg4QeMByEp74YRLpkgTFWj98br8h1cX7J1az52CmAkqqinkADaGJ195HH1FD1Van7q2vCo9MyqCKot8KbQWeh7PcvV3cM4?format=match&mode=fit&width=640)

According to various estimates, Bitcoin spot ETFs will attract $0.5 trillion in the first six months alone, causing the cryptocurrency's price to rise to $80,000.


StormGain Analytics Team (https://stormgain.com/easy-start)
(the cryptocurrency trading, exchange and storing platform)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on October 04, 2023, 10:25:43 AM
Lido's monopoly is a systemic risk for Ethereum

Ethereum's move to PoS has generated some serious problems requiring developers to intervene. First, staking turned out to be too attractive, and because of the growth in validators, it often faces large-scale failures (read more on that in our article). There are now around 838,000, and this number will reach over 1 million in November.

(https://steemitimages.com/p/vM1pGHgNcyCXUWJECrZbvn1NMPj1oFGUo3gYfF3NNPRD9Zt4hAzfNDdQ4ZTyUeVyz2y8vmz3K2kRWDKFsjwwkhYnVRwQ6X4D33tsLq8agopxSDCSHha8gWjoaYQSTXmuSu7LKkA?format=match&mode=fit&width=640)

Second, a 32 ETH (~$53,000) limit to launch one's own node has boosted the popularity of Liquid Staking Derivatives (LSD). This amount was unaffordable for ordinary crypto enthusiasts who are lured by the possibility of passive income. The annual staking yield rate is 3.8% now, but on high network load days, it exceeds 8%.

(https://steemitimages.com/p/vM1pGHgNcyCXUWJECrZbvn1NMPj1oFGUo3gYfF3NNPRD9aFxhXrYHRCLrtRHfafKwdd1CuEkZfCFfVLo3euTiPKqdcpvZsSVK4A6EvcfWR8z6NmUgotMjR7ALvh6zT39x46StLN?format=match&mode=fit&width=640)

Staking pool platforms came to the rescue. They make it possible to deposit any amount of funds and give their own token in exchange for staking ETH. Lido became a true monopolist, holding a share of 32.3% of the total volume of staked coins.

(https://steemitimages.com/p/vM1pGHgNcyCXUWJECrZbvn1NMPj1oFGUo3gYfF3NNPRD9U3uo9woaV5jGpUBb7v1w6VSd4Rx5sASe6J6WEWVg8oPi6w5GJCWyixgnApn7WAXbjk3BWjVvgyhJqC11ceN5fJY5Mg?format=match&mode=fit&width=640)

Meanwhile, its share on the liquid staking market is 71%.

(https://steemitimages.com/p/vM1pGHgNcyCXUWJECrZbvn1NMPj1oFGUo3gYfF3NNPRD9b2L9XCZD1TvXNk94QgqKGCihzGJLrLzsdpqCq11q4t3MXS2Mev2F9B6ToE1ujbZCsseKBWBSF2ftS15fFwPJnJqVCA?format=match&mode=fit&width=640)

Vitalik Buterin admits that such an amount in the hands of a single DAO can be the reason for a systematic crisis if Lido is attacked. The larger a node operator is, the more attractive it becomes to fraudsters. By getting access to management, a hacker can use all the available means, including for a 51% attack.

The more probable adverse scenario is associated with problems in managing a potential crisis on the platform. Last year, amid rumours of Lido's lack of liquidity, the stETH token given in exchange for ETH lost its peg, trading at a 10% discount. Due to its importance, the hypothetical collapse of stETH would affect the parent coin.

(https://steemitimages.com/p/vM1pGHgNcyCXUWJECrZbvn1NMPj1oFGUo3gYfF3NNPRD9aeuPRXjdH5HtQTqvMih33TUoJ3yXBehbnGgMLKRZUv47ZYHZJiCS1vwTCkjWFzEXKQxrXMwJXDiNa2tpcmogyJwNn2?format=match&mode=fit&width=640)

Ethereum developers are discussing the problem but haven't found an effective solution so far. Last year, the crypto community tried to push Lido, but its validators, with a 99% majority, voted against artificial limitations on platform growth.


StormGain Analytical Group (https://stormgain.com/easy-start)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on October 04, 2023, 04:23:04 PM
New Cryptocurrencies for Mining in 2023

Cryptocurrency mining can be costly, as it involves purchasing GPUs (or ASICs) and other computer components. However, there are specific cryptocurrencies that are easier to mine without the need for an extensive mining rig. By solving complex equations, miners receive a small compensation for their work and contribute to verifying transactions on the blockchain. If you're interested in mining new cryptocurrency for free in 2023, here are the top 5 cryptocurrencies to consider.

What Is Crypto Mining?

Mining is like the engine that makes cryptocurrency work. Think of it as creating new building blocks for digital money. Imagine you have to solve a tricky maths problem to find a unique code. Once you crack it, it's easy to check if it's right. The person who solves the puzzle first gets a prize from the cryptocurrency network. This reward is called a "block reward", and it's usually in the form of new coins and sometimes a bonus for handling transactions. Miners compete to be the first to solve the puzzle and earn the reward. The problem's difficulty adjusts based on how many miners are working together.

Profitable New Crypto for Mining in 2023

The profitability of new crypto for mining is determined by various factors, such as the price of the cryptocurrency being mined, the cost of electricity, and the mining hardware. It's important to carefully calculate your profitability before investing in mining hardware. In most countries, cryptocurrency mining is taxable, and miners must pay taxes on their profits. It's advised to maintain accurate records of your mining activities and seek guidance from a tax professional to ensure compliance with tax laws.

The profitability of new crypto mining different coins may vary depending on the current market conditions. In this article, we have curated a list of the top 5 most profitable cryptocurrencies to mine in 2023.

Disclaimer: It's recommended to research each coin's profitability before investing in mining hardware.

Conflux (CFX)

Conflux is a public blockchain platform that utilises a hybrid consensus algorithm, merging Proof-of-Work with a Tree-Graph consensus protocol. Its objective is to deliver fast and secure transactions with high throughput and low latency. Considering Conflux's growing adoption and relatively low market cap, mining this new cryptocurrency in 2023 has the potential for profitability.

Helium (HNT)

Helium is a wireless network based on blockchain that enables IoT devices to connect to the internet through a decentralised, peer-to-peer network. It employs a consensus algorithm called Proof-of-Coverage, incentivising miners to offer network coverage instead of following the conventional mining process. Considering its emphasis on IoT connectivity and energy efficiency, Helium could be one of the most promising new crypto mining projects 2023.

Filecoin (FIL)

Filecoin comes next on the list of the most promising new crypto mining projects 2023. It's a decentralised storage network that employs a Proof-of-Replication consensus algorithm. Its goal is to establish a decentralised file storage platform that surpasses traditional cloud storage options in terms of efficiency, security and affordability. Given Filecoin's growing storage demand and the ease of mining, it could be a lucrative new crypto mining option for 2023.

Handshake (HNS)

Handshake is a project that aims to decentralise the naming and certificate authority system by using a Proof-of-Work consensus algorithm. Its goal is to create a more secure and accessible system that can replace the traditional certificate authority system. Handshake has a low mining difficulty and market cap, making it a potentially profitable coin in 2023.

Chia (XCH)

Chia is a recently introduced digital currency that utilises a consensus algorithm called Proof-of-Space-and-Time (PoST). Unlike traditional methods that rely on GPUs or ASICs, Chia allows users to mine the cryptocurrency by allocating their unused hard drive space. This emphasis on energy efficiency and sustainability has made Chia an appealing choice for miners seeking to minimise their environmental footprint.

Top Cryptocurrencies You Can Mine at Home in 2023

The top new cryptocurrencies to mine for free in 2023 don't require a large crypto mining rig. While it used to be possible to mine Bitcoin using laptops and desktops, the increasing mining difficulty and the development of Application Specific Integrated Circuit (ASICs) hardware specifically designed for Bitcoin mining have made it nearly impossible to mine Bitcoin profitably at home using the processing power of a PC or laptop. However, there are still options for mining other popular cryptocurrencies from home in 2023.

Which coin mining is most profitable this year? This article will introduce several popular choices and provide instructions on how to get started with them.

Monero (XMR)

Monero (XMR) cryptocurrency is easily mined using a personal computer. It's known for its focus on privacy and is based on the CryptoNote protocol. The RandomX hash function is used to create complex mathematical equations. You can mine solo or join a mining pool, where your computer's resources will be combined with others in the pool to mine XMR. Monero is considered one of the top 5 new cryptocurrencies to mine for free from home.

How To Mine Monero: to start mining Monero, you must download a wallet to store your coins. It's recommended to use the official Monero GUI client. The next step is to download mining software that supports Monero, such as MultiMiner. MultiMiner is known for its user-friendly interface, but other mining options are available online. After you have successfully mined Monero, you can trade it on StormGain.

Zcash (ZEC)

Zcash (ZEC), launched in 2016, is a prominent digital currency prioritising privacy. One of its key features for home miners is using the Equihash algorithm, which is resistant to ASIC mining. Therefore, individuals with a GPU can participate in mining Zcash.

How to mine ZCash: to begin mining Zcash, you must first download the software responsible for controlling your hardware. Additionally, you'll need to download the Zcash blockchain and set up a wallet. This process requires patience as the entire blockchain must download on your node and synchronise. Furthermore, ensure that you download the appropriate drivers for your graphics cards. Once mined, you can trade Zcash on StormGain.

Bitcoin Gold (BTG)

Bitcoin Gold (BTG) is a derivative of Bitcoin, created through a forking process. While Bitcoin is typically mined using specialised equipment, Bitcoin Gold was specifically developed for mining using regular hardware.

How to mine Bitcoin Gold: the price of Bitcoin Gold often moves in sync with the original Bitcoin, also known as Equihash-BTG, Equihash(144,5) or Zhash. Additionally, StormGain facilitates trading of Bitcoin Gold.

How to Find New Crypto Projects for Mining

Here are 6 ways to find which coin mining is most profitable:

1. Research industries on coingecko.com. Visit coingecko.com to explore over 70 different industries and their blockchain solutions. It's essential to have relevant knowledge of the market or use cases.
2. Ask for recommendations. Social media like X (formerly Twitter) can be a good starting point to collect ideas from others. However, be cautious of shillers who promote specific cryptocurrencies for personal gain.
3. Check websites that promote airdrops. Websites like airdrops.io and coinmarketcap.com provide information on crypto projects offering airdrops. Airdrops are a marketing activity where free coins or tokens are distributed to promote awareness of a new currency or token.
4. Explore websites listing upcoming crypto ICOs. Websites like icodrops.com and coinmarketcap.com offer fundraising goals, prices, whitepapers, and more details. This is a great option to discover brand-new projects before others.
5. Research listings on crypto launchpads. Crypto launchpads are platforms where developers raise capital for their projects. These platforms undergo a due diligence process, ensuring higher chances of success for listed projects. Check out platforms like gamefi.org.
6. Use CoinGecko's discover function. Visit coingecko.com to find recently added coins and trending searches for crypto projects.

Consider these two rules when making your choice:

- For higher-risk and potentially significant returns, focus on brand-new or new but already established projects in new industries.
- Consider middle to large-cap coins and tokens in established industries for lower risk and lower chances of big returns.

The choice is yours to find suitable candidates for your research among the numerous crypto projects available. Register on StormGain now! (https://stormgain.com/easy-start)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on October 05, 2023, 07:36:59 PM
Ordinals are receding, commission on the Bitcoin network collapses to $0.12

The Ordinals protocol led to the spread of images (similar to NFTs) in the Bitcoin network and then quasi-tokens (BRC-20). The greatest enthusiasm was seen in May when the network experienced congestion and the average commission exceeded $30.

(https://steemitimages.com/p/54TLbcUcnRm3sWQK3HKkuAMedF1JSX7yKgEqYjnyTKPwrcRkxSFtdx4jd9XT96qgncUdhcF2CwB7spVgiabj8o21qyrcWrQHCgt9k44qxjUYh6evg1uCjs7MJCVjUtRbCSQqAvr7G?format=match&mode=fit&width=640)

After seeing a significant increase in the cost of transfers, users began to switch to alternative networks for settlements. The cryptocurrency that received the biggest boost was Litecoin, which was launched back in 2011 as a faster and cheaper alternative to Bitcoin.

(https://steemitimages.com/p/54TLbcUcnRm3sWQK3HKkuAMedF1JSX7yKgEqYjnyTKPwrcQ42W97nRXbEwKaqqsJxJLK2eF2mZF6adxJRFjZav3EDUFtjWcDfmeAVAdJedMTzGbzkTbw9bAHyWSrvSXM5bG4xxige?format=match&mode=fit&width=640)

However, the problem with overloading the Bitcoin network didn't last long. At first, interest in the images that occupied a significant space in the block died out. Now, the excitement around quasi-tokens (with the most famous among them being PEPE, ORDI and MOON) has disappeared.

(https://steemitimages.com/p/54TLbcUcnRm3sWQK3HKkuAMedF1JSX7yKgEqYjnyTKPwrcsVXN7sdfMVTmNi8fqVKkN67gGpahzHXKEFeKksKZqW3FCVDxEiCHW5NjVmYZf1Pf6h6z3ryKBrKsqv1UFbSKQfdEw5Y?format=match&mode=fit&width=640)

Since May, somewhere between 100,000 and 400,000 ordinals have circulated daily. That led to the network setting a new record for the number of processed transactions. In recent days, the turnover has fallen below 100,000 per day, and the network commission for sending an ordinary transaction has fallen to $0.12.

(https://steemitimages.com/p/54TLbcUcnRm3sWQK3HKkuAMedF1JSX7yKgEqYjnyTKPwrcTZin99SG3E8Ubkr5jHN2sRaSPwhAmqxb1785XLs5Qc9ECmLNXVefT9pEuLoa8obwdBf5A3qLxWnibsZwmb3WyUwoSXg?format=match&mode=fit&width=640)

Casey Rodarmor, the man who brought about Ordinals, was disappointed in users' behaviour and called 99.9% of the quasi-tokens spam. The primary interest in minting the token was fuelled by a desire to find gullible buyers. Meanwhile, the Bitcoin network has faced an increase in the load on the network, in commission and in unspent transaction output (UTXO).

(https://steemitimages.com/p/54TLbcUcnRm3sWQK3HKkuAMedF1JSX7yKgEqYjnyTKPwrcc5bjpX8gYKqTZSX6PPiTYSGec53JFL7M56B5qDZT44hdquCcoCtfNceVkzBCN1UCvDtpnxcZxx5MBT4ea5v7EN3b9Li?format=match&mode=fit&width=640)

A number of crypto users believe that Bitcoin was created exclusively for financial settlements and that such innovations only have negative consequences. Supporters of ordinals note the uncompromising progress and the benefits for miners who increased their earnings on higher commission.


StormGain Analytical Group (https://stormgain.com/easy-start)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on October 09, 2023, 06:19:28 PM
FTX case: Client deposits were used to repay loans

In November 2022, FTX, one of the largest crypto exchanges, went bankrupt. Until his arrest, CEO Sam Bankman-Fried (SBF) spent the last year giving interviews in his defence, trying to convince the public that there were no evil intentions. He also assured that Almeda Research, which acted as a market maker for the crypto exchange, was independent. But court testimony says otherwise.

Adam Yedidia, SBF's classmate and FTX programmer

Adam Yedidia testified in court that he had written a program to transfer clients' funds from FTX to Alameda. From its launch, the crypto exchange had difficulties opening a bank account. Some funds were sent directly to Alameda. They were seen as liabilities to FTX that reached $8 billion by mid-2022.

The same year, Yedidia discovered that part of the funds were used to cover loans to third parties, as Almeda's trading activities were causing losses. The exploration of shocking facts about using the clients' funds forced him to resign in November 2022.

(https://steemitimages.com/p/RGgukq5E6HBM2jscGd4Sszpv94XxHH2uqxMY9z21vaqHt19U32pY3qaFBqg9vQG9y3YqcbRtCSVP1uhrUmwS9CpXjSDxSRZmLRXssTzDCuYWk4FSj354trhxBx9XJwx?format=match&mode=fit&width=640)
Transcript of the court hearing. Image Source: twitter.com/innercitypress

Zixiao 'Gary' Wang, co-founder of the companies and CTO

Gary Wang confessed to committing financial crimes with Nishad Singh, Caroline Allison and SBF.

He testified that "We allowed Alameda to withdraw an unlimited amount of clients' funds."

Privileges were encrypted in the programme code. Alameda could also hold positions with a negative balance in FTX without a forced closure.

Wang also revealed that he owned 10% of Alameda's assets, with 90% owned by SBF.

"If there were disagreements in the company, Sam always had the last word."

(https://steemitimages.com/p/RGgukq5E6HBM2jscGd4Sszpv94XxHH2uqxMY9z21vaqHt2ZjN1qVacMivrVVrkVpheR7e6T8iGCsEon1mn18oz8g3exePjGtWpfbogT2gjaNTqELbxpZ4MaoXs2Piwg?format=match&mode=fit&width=640)
Transcript of the court hearing. Image Source: twitter.com/innercitypress

SBF's defence position

The first thing SBF's attorneys noted was that the witnesses' testimony was given in exchange for a deal with the prosecution, hinting that they're interested in exposing SBF as a villain. The attorneys also cited SBF's 10-hour work days starting in 2021 and his high workloads:

"The business was growing too fast. He didn't have time to make sound decisions."

During the speech, the defence highlighted the unprofessionalism of Alameda CEO Caroline Ellison and the negative impact of Binance when the competitor refused to sell FTT (FTX's token) directly to Alameda.

"Being the CEO of a bankrupt company isn't a crime."

According to his lawyers, FTX had the right to lend funds to Alameda as part of a business partnership with a market maker, and SBF's strong involvement in the company's activities was due to his ownership of a stake in Alameda.

Impact on the market

FTX's collapse led to a crypto market crash. Among the Top 10 coins by market capitalisation, Solana was hardest hit. The network had several business projects with SBF, and $1.2 billion worth of SOL is still held in the crypto exchange's accounts.

(https://steemitimages.com/p/RGgukq5E6HBM2jscGd4Sszpv94XxHH2uqxMY9z21vaqHt2Y7oGA9Yg1Ei5kop8sU6njZ4oSERsGU2TLNEsqn4KSqvDKsdcbH5uZtk6S1gbsAZs7nX1goxmxEC7M6h4J?format=match&mode=fit&width=640)

Trust in centralised market participants also suffered significantly. In the week after FTX's collapse, 10% of crypto exchange reserves held in Bitcoin were withdrawn to cold wallets.

(https://steemitimages.com/p/RGgukq5E6HBM2jscGd4Sszpv94XxHH2uqxMY9z21vaqHt4hED9B2C5MeVzQCDZeHDhXZGQTymPSNaNSV5rUNK7Ljyysub1coB9A5x14Hc3XmzTcspwbBwpFoPVdditv?format=match&mode=fit&width=640)

The court case continues, but the defence's weak position and evidence of misuse of clients' funds leave little chance of SBF getting out of hot water.


StormGain Analytical Group (https://stormgain.com/ru)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on October 10, 2023, 10:51:28 AM
Crypto derivatives market share sets new highs

The cryptocurrency market's volume continues to decline, reaching levels it last saw in 2019. In September, the spot trading volume amounted to only $336 billion, while derivatives volume was at $1.3 trillion.

(https://steemitimages.com/p/EEEoA8oLaAxsTkPYAARp78o5cJA1o6Chv9x98TzCFT6v5J93zgDLFhuxG4UhDYggAJGr3xMWqGJQWcFySv5bCaDCk6uaG34aMYitGquKz9z7N4wCVbD8BjQsg5dkxbJshuzmQYuP7E6b3X4VHgyUJ?format=match&mode=fit&width=640)

Interest in trading derivatives is declining more slowly, bringing its share to a record 79.9%.

(https://steemitimages.com/p/EEEoA8oLaAxsTkPYAARp78o5cJA1o6Chv9x98TzCFT6v5GhWJEPx3ZZjZYf8Tg1X3B5U3ZvJkaQL1PYXChbQDZf4rjjDetgZVJbPHMP1qKEy3SbG5B8aVi4yNMEEK7CpGGNkPzGzyRdug42TvtEKx?format=match&mode=fit&width=640)

The growth of the speculative component is a negative factor, as it reduces the market's ability to withstand stress. In the event of sudden news, the market reaction is more acute due to the liquidation of the traders' or buyers' positions on trading platforms. This increases large players' interest in manipulating prices.

(https://steemitimages.com/p/EEEoA8oLaAxsTkPYAARp78o5cJA1o6Chv9x98TzCFT6v5HmHC2TyKvaotUMt9rvewfiPaU71uq3zf1ZC3b4JKTUusa1hYiZx1jC1F7zQM6F6gnkwuftkPDktvydkQuNAk1avYAdeRRQSFCAuRr9bk?format=match&mode=fit&width=640)

The decline in spot trading volume is also caused by the accumulation of Bitcoin and investors' unwillingness to sell it at current prices. The reserves of long-term holders (those whose coins have been idle for six months or more) have reached 14.7 million BTC.

(https://steemitimages.com/p/EEEoA8oLaAxsTkPYAARp78o5cJA1o6Chv9x98TzCFT6v5GR2e75DAzdgUMZQp2ZhkCaW7UmWcNnUBCRAWFDk5DbprvFaXiBPnC72eE595dNE2QQy3GzAwZZtT9t7eZTF69ZncymFSD1sS2YXwZ7hY?format=match&mode=fit&width=640)

Mass coin purchases are curbed by the inconsistencies in crypto regulations, the Fed's monetary policy tightening and the high US Treasury bond yields. Institutional investors' behaviour is the best representation of the latter reason. Without waiting on the desired quick approval for crypto spot ETFs, they have withdrawn $103 million from Bitcoin funds over the past month.

(https://steemitimages.com/p/EEEoA8oLaAxsTkPYAARp78o5cJA1o6Chv9x98TzCFT6v5GVpjqKox72dXex2PvM9xAgd9bPt2WSjmnkLVtT5VuX3pKkJeQJBEFHAT8mULeRVBAkA5GpK1x2puMU2UZi2usU5cLsbLqk9oF4E7iY78?format=match&mode=fit&width=640)

A high degree of uncertainty may persist until the end of the year. The Fed is threatening another key interest rate hike, and the SEC is nowhere near approving spot ETF applications. Over the past six months, the 99Bitcoins online obituary hasn't recorded a single article about the upcoming demise of Bitcoin, and even more forecasts of its medium-term growth are being published.


StormGain Analytical Group (https://stormgain.com/easy-start)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on October 11, 2023, 03:43:07 PM
Binance's market share dropped from 55% to 34%

In 2023, Binance is seeing the worst performance among major crypto exchanges. Its market share declined to 34% in the spot trading market, and its September turnover dropped to $115 billion. This is the lowest figure since October 2020.

(https://steemitimages.com/p/W5LtFUPm6g7111bbdcuxu3bfUg5qaCq8seb5paCtrrT7zRbvPSACRLBDWrBjfjFkRYuMRCgMXhSFYokjUqrrgW64u3CsvRknyn6gXY8dj9KR1kqNq6Y8Xi4inCgi6ex3XCsBaphhinMT1ZzeNyrzg92Dx6xjp?format=match&mode=fit&width=640)

The decline is accelerating. In September alone, its share of spot trading dropped by 4.2%. October might bring even worse results since Binance announced it's leaving Russia on 27 September. Russians provided 7% of the platform's global traffic.

(https://steemitimages.com/p/W5LtFUPm6g7111bbdcuxu3bfUg5qaCq8seb5paCtrrT7zMaVkGZNZ9jfvPmwE2xbG5h7X43S5yY1dqAVgrR95hEPEw7xCJTTrQkXoSJpWL79Bxt3tCrv1Zskh7i8dKRcpKSTDCWzr6GZt9GkCThfyBzAXbX5x?format=match&mode=fit&width=640)

Services for BUSD stablecoin loans will be halted in October. This is a step towards withdrawing support for the coin in February 2024. The volume of BUSD trading on crypto exchanges collapsed in September by 47% to $15.8 billion, and the coin's market capitalisation has dropped from $16.6 billion to $2.5 billion in a year.

(https://steemitimages.com/p/W5LtFUPm6g7111bbdcuxu3bfUg5qaCq8seb5paCtrrT7zMnUyWpaKDStd3WbRe8A9uTCEFcD6P67SxxYxwCGoBWvyF6zDWUDJ9XRwknqFK2mHMzdhr6JxM8ocjmZ5mVDHfxDmbNy4iLtgGENzL3Mc3kTfGZKU?format=match&mode=fit&width=640)

Regulatory pressure is to blame for the rejection of BUSD and the decline in market share. The issuer of the Paxos stablecoin was presented with a pre-enforcement action notification, after which the company refused to work with Binance. Support for the Paxos coin expires in February 2024, as well. The SEC filed a lawsuit against the crypto exchange, accusing it of financial fraud and violating securities law. A number of regulators around the world have either refused to issue a new license or revoked the current one. American media predict that the US Department of Justice will soon bring an indictment.

The wave of problems negatively affected BNB, the crypto exchange's native coin, which is down 15% in 2023.

(https://steemitimages.com/p/W5LtFUPm6g7111bbdcuxu3bfUg5qaCq8seb5paCtrrT7zR9cRLpBrF1Ba7QHNt2sFd7BT4YsLNxHxwiQt1DS1V7iASg4QsthFjtnqrFwHBvgAdM5tujSgNG4k8AKXRZbBtrFcahYHXxWGUiNEpuYHqMK43Bhp?format=match&mode=fit&width=640)

The crypto exchange has lost a significant share in the spot market, but it holds an impressive 51.5% in the derivatives trading market. It also became the first licensed platform in El Salvador, where Bitcoin is recognised as legal tender. If the disagreements with the US Department of Justice can be resolved before the trial begins and the SEC cannot prove a violation of securities law, Binance will have a chance to regain the ground it lost.


StormGain Analytical Group (https://stormgain.com/)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on October 12, 2023, 10:22:06 AM
Hodlers accumulate 50,000 BTC per month

In recent months, Bitcoin has been traded with only minor price changes, leaving the realised capitalisation indicator net position change near zero.

(https://steemitimages.com/p/2N61tyyncFaFVtpM8rCsJzDgecVMtkz4jpzBsszXjhqan9o1Jr1BzwJQzmbQgU8WADXWgFgcNBXn4JQFfs5J6QmMvh7QY1sdZ1nCy7fo4rwAT3bmPhEnPoHtBfheJN8kcaeLhejcCMd8?format=match&mode=fit&width=640)

The average volume per exchange decreased to 0.44 BTC per active address. A similar pattern was previously observed in 2018 and late 2020. The situation is illustrated by comparing the volume of coins sent over the past week with an average value of -0.5 of the standard deviation.

(https://steemitimages.com/p/2N61tyyncFaFVtpM8rCsJzDgecVMtkz4jpzBsszXjhqan9qLTof8Gv5Qibdore2YdC4cNp3ueMdQBTgYYp8zZNFeLHEcbn8VTEN6LUYiMA6BhCQ2B9pjqJ3Gk82qXEr4XtgaDqQoquUz?format=match&mode=fit&width=640)

Similar lulls have preceded major price movements in the past. The latest one has lasted for 535 days, which predicts a relatively early start of a new bull cycle.

(https://steemitimages.com/p/2N61tyyncFaFVtpM8rCsJzDgecVMtkz4jpzBsszXjhqan9oWrrGeg3DfkV4rr5F7JPWDV19n1B6T93gWU7EKfwNfcxuay3Rm8Swq6ecMqF3S3n7qdmntayq2SmBL9Y741RBbJX2bLtsp?format=match&mode=fit&width=640)

The low volume and realised capitalisation indicators point to a decrease in speculative interest among short-term holders, as well as the reluctance of hodlers to get rid of coins at current prices. Moreover, hodlers are replenishing their reserves at a rapid pace, accumulating 50,000 BTC a month.

(https://steemitimages.com/p/2N61tyyncFaFVtpM8rCsJzDgecVMtkz4jpzBsszXjhqan9jXxB7r8KmLcBNmVvcxRJ3TK8hkSuXRbAc1KZAnPbWvZQDUXgv9jsLVscA6CvjYvodQADWjr4EEwBHmzDe62RYn7LANLUXg?format=match&mode=fit&width=640)

MicroStrategy, the largest public hodlers, has accumulated 158,245 BTC at a total cost of $4.3 billion. Meanwhile, the world's largest investment company, BlackRock, applied for the creation of a Bitcoin spot ETF and acquired shares in the largest miners for $400 million.

(https://steemitimages.com/p/2N61tyyncFaFVtpM8rCsJzDgecVMtkz4jpzBsszXjhqan9vwwT59n9rge87XYk7tCz1Cc8QNVW9dsoHN3tH4TXfGJHTnC2SH8KMGZih2XtDqzjGA36djGHXoTso6s7JhmtwexHVmiC46?format=match&mode=fit&width=640)

They're all waiting for the crypto rally to start in late 2023 or early 2024. In a recent interview, the billionaire and hedge fund manager Paul Tudor Jones spoke about the most precarious situation in the American financial system since World War II due to inflated external debt and exorbitant payments to service it.

In May 2020, Tudor Jones placed up to 2% of assets in Bitcoin, and in 2023, he announced his desire to bring the figure to 5%, calling BTC a great way to protect wealth in the long term.


StormGain Analytical Group (https://stormgain.com/)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on October 13, 2023, 12:39:18 PM
Caroline Ellison: We took $10 billion of client funds out of FTX

Court hearings continue for collapsed crypto exchange FTX and CEO Sam Bankman-Fried (SBF). His close associates, FTX CTO Gary Wang and Alameda Research CEO Caroline Ellison, have pleaded guilty to fraud charges and reached a deal with the investigation. On the other hand, SBF denies all allegations, and his lawyers have focused on the unprofessionalism of his colleagues.

We've already covered the strong interconnection of Alameda and FTX. A key witness for the prosecution was Caroline Ellison, who described the depth of FTX's financial hole in great detail.

In 2021-2022, SBF set the target of actively attracting investments. The money was used for "donations" to politicians, advertising, charity, investments in various projects, purchase of luxury property and multi-million dollar bonuses to management. To attract massive investment, artificial reports of the company's financial health were created.

Sam instructed us to borrow as much money as possible.

Genesis Trading was Alameda's largest investor, with the latter's debt to the former reaching several billion dollars at peak times. After Terra (Alameda was among its investors) collapsed in May 2022, the crypto industry faced a crisis and a drop in asset values.

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A month later, Genesis Trading requested the return of the investments. As a result, Caroline fabricated a financial statement on the seventh attempt that was supposed to reassure the lender. However, the large share of the FTT token — the FTX crypto exchange's token — on the company's balance sheet led Genesis to become sceptical and withdraw some of its funds.

Fast-forwarding a bit, Genesis Trading was still the loss leader among investors and subsequently filed for bankruptcy.

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To stop investors from fleeing and cover the financial hole, SBF ordered the inflow of client funds from FTX to Alameda to be increased. That number reached $10 billion in 2022. In terms of assets share, 52% of all client funds in ETH, 44% in USDT and 25% in BTC were withdrawn from FTX. That's not including the FTT token and its fake capitalisation, which accounted for over half of Alameda's balance sheet at the time of the collapse.

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Alameda was a private structure with no audits conducted. The financial reports were faked by the management, and balances were adjusted by changes in the program code. As Ellison confessed, if Alameda was a third-party market maker, its credit line would be limited to a few hundred million dollars.

The house of cards began to collapse after CoinDesk published an article in early November 2022 noting the two companies' high interconnection and questionable financials, as well as FTT making up a large part of assets. When customers began to apply for withdrawals, there wasn't enough money, and FTX and Alameda filed for bankruptcy. The SBF empire's current debt to customers and investors is estimated to be $8 billion.


StormGain Analytical Group (https://stormgain.com/)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on October 17, 2023, 12:55:57 PM
Interest in staking declined due to Ethereum's weakness

We recently covered the growing load on the Ethereum network due to the massive inflow of validators. The project's developers estimate that the number of validators will double by mid-2024 to reach 2 million.

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However, the market is making adjustments. In 2023, Ethereum lost 20% against Bitcoin.

(https://steemitimages.com/p/k75bsZMwYNtze9xHvT6xWCdz7q3QGD35ZKdaPpVrFksWkGp22MgxCC8CpAH8najbLy6887tdTfVSYYr4FFndFdmVm1PNBRKhirDad2K231JjBU74Xbo9q2XtqRMEeSiA1P8cwYVAvDYyQJyjfczqy6N8soTcucfJW?format=match&mode=fit&width=640)

Investors' last hopes were on the launch of Ethereum futures ETFs in October, but that has been mediocre. On the first day of trading, altcoin ETFs attracted just 1.3% of the amount raised by a similar Bitcoin-based fund in 2021 ($7.4 million vs $571 million, respectively). Trade volume was even lower, coming in at 0.19%.

(https://steemitimages.com/p/k75bsZMwYNtze9xHvT6xWCdz7q3QGD35ZKdaPpVrFksWkCdoN3HaeEsd4mqgU6noo99uJJSNzxQVHpcq7M6o2fScctCF3HGWwjdm9RWs6qx7dbhZvEN8TS18x6UEXuEfzdY3io83yksotJvbPYfmTEGQoTEhG4hPc?format=match&mode=fit&width=640)

The yield from staking now stands at 3.5% APY, which doesn't even come close to bridging the difference between Ethereum and Bitcoin.

(https://steemitimages.com/p/k75bsZMwYNtze9xHvT6xWCdz7q3QGD35ZKdaPpVrFksWkBSn3LJUy972H4ppRMgd3rDcji2s9UmxeTX3SdB1bwzBf6Vxvh67GoJiv3dx2vUPomE9jytnkobHR1rbaYbi6dAPBitCYVKXVJCxWHmoHRtZZzjBqKWdU?format=match&mode=fit&width=640)

This, coupled with the poor reaction to the ETFs' launch, has led to disappointment among altcoin investors. The queue for participation in staking has declined to nearly zero, whereas there were over 50,000 willing participants back in September.

(https://steemitimages.com/p/k75bsZMwYNtze9xHvT6xWCdz7q3QGD35ZKdaPpVrFksWkDazBqaWvf2XvHeQk7T5Pkk7CzEJck6TcK5RjQ3dVF57k9aiKWJofUHyGpsUUkyxwxKddQwbKe4AaLhzTVAFA4chzuyWBVhmkuoqhatS249gMAA494pUN?format=match&mode=fit&width=640)

The main factor restraining the altcoin's growth is the position of the SEC, which is seeking to label the cryptocurrency as a security. Coinbase received a pre-enforcement action notification in March but refused to quit the staking programme voluntarily. If the court sides with the SEC, Ethereum will receive another painful blow. The US cryptocurrency exchange ranks second In Ethereum staking with 2.3 million staked coins and a share of 8.4%.

With Coinbase leaving the market, Ethereum's other problem, centralisation, will become exacerbated. Some clients are likely to join the Lido Finance pool, which has a 32% share.

(https://steemitimages.com/p/k75bsZMwYNtze9xHvT6xWCdz7q3QGD35ZKdaPpVrFksWkCwupw7q5bnTuHVxHEH81B5MwcUE4ZJzHWkJLD6xaiQr7cUbkn6nnFLuocYtuECeAfZs3miLF677ruMg7Nbh9kPv2RJKTTuqJ9j7S8JJvehx3offssKMg?format=match&mode=fit&width=640)

Vitalik Buterin has admitted that the increase in centralisation is one of the network's major problems and that the solutions being considered are far from ideal. He estimates that it will take 10-20 years to resolve the situation.


StormGain Analytical Group (https://stormgain.com/)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on October 18, 2023, 12:30:42 PM
Bitcoin briefly breaks $30K following false rumour of spot ETF approval

Bitcoin (BTC) experienced a sudden and significant price surge, briefly rising past $30,000 on Monday. The reason behind this surge was a false report suggesting that the US Securities and Exchange Commission (SEC) had granted approval for the first spot Bitcoin ETF by BlackRock.

In a tweet that has since been deleted, the crypto-focused news outlet Cointelegraph erroneously announced on Twitter: "BREAKING: SEC APPROVES ISHARES BITCOIN SPOT ETF." This referred to the iShares ETF brand owned and operated by investment giant BlackRock. Consequently, Bitcoin's value swiftly increased by over 10%, reaching a high of $30,000. However, these gains swiftly dissipated after a spokesperson from BlackRock informed Bloomberg that the company's application for a spot Bitcoin ETF was still undergoing review by the SEC.

In response to the misinformation, Cointelegraph issued a follow-up tweet, stating: "We apologise for a tweet that led to the dissemination of inaccurate information regarding the BlackRock Bitcoin ETF. An internal investigation is currently underway." On Monday, the outlet also issued an article clarifying how the misunderstanding came about. But the crypto market had already been rocked by the rumour, with many traders being caught off-guard and losing their leveraged positions. Data from CoinGlass revealed that $81 million worth of short positions (bets against higher prices) were liquidated on the move to $30,000.

(https://steemitimages.com/p/9vWp6aU4y8kwSZ9Gw15LFL3aMdhmgmBBFMpDJregpdP328LVg26rWUfUwvKi1RRv7tYuKXsqbZHc45zb7VFeT3Xax4h3zL2oNcSQ3T6siY1tfKSs6v7DQm6PAGAooivPyFLJX7VwBqRx797en?format=match&mode=fit&width=640)

As a result of these developments, Bitcoin rolled back some of its gains, now showing an approximate 3% increase and hovering slightly above the $28,000 mark. During the dump, about $31 million in long positions (bets on higher prices) were also liquidated. Although brief, the volatility introduced by the social media rumour shows just how suddenly dramatic price swings can be re-introduced to the crypto market after the relatively quiet summer period.

Error shows just how impactful the spot ETF approval could be

This episode of heightened Bitcoin price volatility underscores the expectations that investors have maintained concerning the SEC's approval of a spot Bitcoin ETF. While the agency has previously sanctioned Bitcoin futures ETFs, it has repeatedly either denied or postponed applications for Bitcoin spot ETFs over recent years. Nevertheless, hope has been rekindled with the entry of major asset management firms like BlackRock and Fidelity, both of whom submitted their own Bitcoin ETF applications.

Additionally, the optimism for a Bitcoin spot ETF received a boost following a court ruling in favour of Grayscale Investments. The court determined that the SEC's rejection of Grayscale's application to convert its Bitcoin trust fund into a spot Bitcoin ETF was unfounded. Recent media reports have indicated that the SEC does not plan to appeal this decision, which has given investors renewed hope of an imminent approval for a spot Bitcoin ETF. Notable figures, including Cathie Wood from Ark Invest, have expressed their belief that the SEC is making progress towards granting such approvals, potentially for a group of Bitcoin ETFs.

At present, the SEC is reviewing more than 10 spot Bitcoin ETF applications, signifying the significant interest and anticipation surrounding the potential approval of these investment vehicles.

Although the recent BTC price swings were based on a false rumour, sooner or later, the SEC will make its decision, and traders should be prepared to profit from the crypto volatility that will follow. To trade BTC and other cryptos with the best conditions on the market, make sure to use StormGain to maximise your profits (https://stormgain.com/easy-start).
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on October 20, 2023, 03:23:22 PM
Bitcoin halving 2024: How important is it?

The Swan Pacific Bitcoin festival recently hosted a panel discussion with the provocative title, "Are halving price cycles bullshit?" Led by Nik Bhatia, the founder of Bitcoin Layer, the panel featured insights from prominent figures in the cryptocurrency space. The focus of the discussion was to explore whether the upcoming Bitcoin (BTC) halving event, cheekily referred to by the crypto community as the ‘halvening’, is indeed a reliably bullish event or merely a narrative that attracts inexperienced investors.

Bitcoin halving is an event that occurs approximately every four years, reducing the reward miners receive for confirming transactions by half. This process is programmed into the Bitcoin protocol to limit the total supply of Bitcoin, making it more scarce over time and potentially increasing its value.

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The prevailing belief in the cryptocurrency space is that Bitcoin’s supply halving is a bullish phenomenon, leading to substantial price increases. Many in the industry eagerly anticipate this event, often mentioning it alongside the potential approval of a spot Bitcoin ETF as the next key catalyst of a BTC bull run.

However, it is crucial to challenge long-held assumptions, particularly in the context of the highly volatile world of cryptocurrency, given the numerous bearish events experienced over the past two years.

The panel, composed of C-level executives with interests in crypto mining, exchanges, and investments began by addressing the primary driver of Bitcoin’s price. Liquidity was brought up as the dominant factor as analysts argued that market flow was more important and that the halving’s impact on price was minimal. However, others on the panel argued that the halving remains a bullish event, even though the magnitude of its effect may be debatable. The panelists agreed that while the halving could impact the market, its significance may diminish over time.

Are all halvings equal?

Just because halvings have been bullish events in the past, they might not continue to have the same impact in the future. A key consideration is that halving primarily affects supply and this becomes less significant as time progresses-half of a half is less of a reduction in the amount of BTC than half of the original whole. Still, it may have a psychological impact on the market.

Investing isn’t only about mathematics, however, it’s also about emotion, especially in the cryptocurrency market, where pure sentiment can drive wild speculation and volatility. Despite their reservations about the impact of Bitcoin supply halvings on its price, all panelists expressed a positive long-term bullish outlook for Bitcoin, reaching a consensus that liquidity would be the driving force for Bitcoin’s future price and that the halving event could continue to be a powerful sentiment driver.

Bullish Predictions For The Halving

Market participants are divided on how Bitcoin's price will respond to the upcoming block subsidy halving, but bullish predictions come from crypto influencers CryptoCon and Rekt Capital. The former suggested that Bitcoin's price will likely gravitate toward $130,000 in the next cycle, with historical patterns indicating that 2025 could be the year for the next cycle peak, approximately double the previous record set in 2021. However, Rekt Capital cautioned that the pre-halving year of 2023 could bring new local lows and a potential protracted price downturn, historically seen around this time in Bitcoin's four-year halving cycles. Because prices tend to go up again around the actual halving event, Rekt advises treating these lows as opportunities for re-accumulation.

(https://steemitimages.com/p/TZjG7hXReeVoAvXt2X6pMxYAb3q65xMju8wryWxKrsghkPWNoRKkTQ1sZ9qFZW2XKpZ583y88EVuztwn2UDouEZCu5PjRwRfed8ijXrxK5LFSHWNSt9UQsQ7QtSYmrm68Tr9jxg25WTx7p?format=match&mode=fit&width=640)

Whether it's in anticipation of the launch of Bitcoin spot ETFs or pre-halving excitement, it’s a good time to accumulate BTC to profit from future price movements. Remember, StormGain offers the best conditions to buy and trade BTC and other digital assets, all with the convenience of a powerful, user-friendly app. Sign up now to trade crypto with StormGain’s exclusive perks! (https://stormgain.com/easy-start)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on October 23, 2023, 09:56:00 AM
How to protect your crypto wallet

Security is one of the most important words in crypto. It's also one of the reasons why many people hesitate to invest in cryptocurrency. However, protecting your funds is easier than you think. There are several simple rules on how to protect a crypto wallet, which we will share with you in this article. Let's explore why keep crypto in wallets and how to protect your crypto wallet from hackers.

What is a crypto wallet?

Wallets are used for storing cryptocurrency. They store public and private keys and support cryptocurrency transfers through the blockchain. Depending on what wallet type you choose, you can interact with decentralised apps and buy and sell crypto assets.

Cryptocurrency transactions don't represent the process of sending crypto tokens from one smartphone to another. When you send cryptocurrency assets, you use private keys to sign the transaction and broadcast it to the blockchain network. It then includes your transaction to reflect the updated balance in your address and the one of the recipient.

So, using a crypto wallet doesn't equal storing assets like physical wallets. They function by reading the public ledger to reveal the balance in your address and holding private keys to let you make transactions.

Crypto wallet types

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Before discussing tips and rules on how to protect your crypto wallets, let's learn about different types of wallets and which is the best fit for your needs.

Generally speaking, there are two main types of crypto wallets: Software-based hot wallets and physical cold wallets.

Hot Wallets

The main difference lies in the connection to the Internet. Hot wallets need an Internet connection to work smoothly, whereas cold wallets are mainly kept offline. It means the funds stored in hot wallets are more accessible to hackers than crypto assets in cold wallets.

The first and foremost recommendation to everyone wondering, "why keep crypto in a wallet and how to protect your crypto wallet from hackers?" would be not to store large amounts of your assets in a hot wallet. You can mitigate the risk of storing digital money in hot wallets.

Some of the most common examples of hot wallets include:

- Web-based wallets
- Mobile wallets
- Desktop wallets.

Cold Wallets

Cold wallets are kept offline. They are a less convenient way of storing your crypto assets but more secure. The two most common examples of cold wallets are paper wallets and hardware wallets.

Hot Wallet vs Cold Wallet: What's the Difference?

Both types of crypto wallets have their benefits and drawbacks. The best option depends on what you expect to get and how you'll use it. If you plan to trade daily, then the accessibility of the cryptocurrency wallet is important. In this case, hot wallets should be your best pick. On the other hand, if you need to store big amounts of crypto assets and pay a lot of attention to how to keep your crypto wallet safe, then it would be a wise move to invest in a cold wallet.

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Other Types of Crypto Wallets

Besides the two most used crypto wallet types, there are several subtypes.

- A paper wallet is a physical location where a private or public key is printed or written down. It's one of the safest wallets to store cryptocurrency than keeping your funds in a hot wallet because there's no way for hackers to access these private keys. On the other hand, the risk of losing a paper wallet or destroying it may result in irrecoverable funds.
- A hardware wallet is an external device (usually a USB or Bluetooth device) that stores your keys. You can sign a transaction by physically clicking a button on the device that thieves can't access. A hardware wallet is the best crypto wallet to store crypto for people who don't need instant access to their crypto assets and feel fine about storing their cryptocurrency offline in a cold wallet.
- Most web-based wallets fall into the category of custodial wallets. You can often come across such crypto wallets being offered on exchange platforms. These are especially popular among beginners and are best known for their convenience and ease of usage. The main feature that makes custodial wallets different from paper and hardware ones is that you don't have full control over your tokens, and that's the exchange platform that holds private keys needed to sign for transactions. With that said, you should be 100% confident in the selected service and prevent unauthorised access using strong security measures, like two-factor authorisation, e-mail confirmation, fingerprint verification, etc.
- Non-custodial wallets provide you with full control over your crypto assets because the private key is stored locally with the user. When using a non-custodial wallet, you're commonly asked to write down and safely store a list of 12 randomly generated words. This phrase acts as a recovery mechanism that lets you access the funds stored in your crypto wallet whenever you lose access to your device.
- Using multi-signature wallets should appeal to everyone interested in how to protect crypto wallets. They authorise transactions using two or more private keys. Such solutions are especially useful for individuals worried about losing access to their wallets and seeking secure ways to sign their transactions. Multi-signature versions are available for all crypto wallet types described above.
- An NFT wallet is one of the safest wallets to store cryptocurrency. This is the place to store non-fungible tokens (NFTs). NFT wallets fall into two categories: hardware and software-based wallets.

Now that we've briefly reviewed all the major types of crypto wallets, let's see how crypto wallets work and how tosecureyour crypto wallet.

How does a crypto wallet work?

Cryptocurrency isn't stored in a wallet. Instead, crypto coins exist on the blockchain, and the crypto wallet lets you interact with the balances held there. A cryptocurrency wallet is an address that allows its owners to move coins elsewhere and lets others see the balance held at any given address.

Most used crypto wallets allow users to send, receive and store cryptocurrency. Some of them also have the feature to buy and sell crypto. Furthermore, depending on your wallet type, you can access extra features like decentralised applications (dApps) built on different networks, swapping between tokens, etc.

Each cryptocurrency wallet has its specifications and nuances in how it functions. However, in general, they're used for sending and receiving crypto coins, and it's suggested you take the following steps for sending and receiving crypto assets:

- To send funds, you need the public address of the receiving crypto wallet. Find your crypto wallet's "send" feature and enter the receiver's address. Next, choose the amount and type of crypto coins you want to send. Before sending big amounts of money, consider doing a small test transaction. Mind that sending crypto coins requires a fee paid to miners in exchange for proceeding with your transaction.
- You must retrieve a public key from your crypto wallet to receive funds. Find the "generate address" feature in your crypto wallet, click it and copy the alphanumeric address or QR code. Share it with the person who wants to send crypto to you.

Important note: When sending a cryptocurrency, always ensure you're doing it to an address of a wallet of the same type of cryptocurrency. For example, when sending Bitcoin (BTC), ensure that you're sending to a Bitcoin Cash (BCH) address. Otherwise, your funds will be lost.

How to choose a crypto wallet?

Choosing the best cryptocurrency wallet isn't only a matter of preference. It should also involve a series of pragmatic reasons, including but not limited to:

- Costs. Most used crypto wallets are free. However, hardware wallets commonly require a small investment. If you're going to hold your crypto coins for long, it's better to invest in a hardware cryptocurrency wallet and learn how to keep your crypto wallet safe.
- The volume and type of cryptocurrencies the wallet will hold. If you hold more than one type of cryptocurrency, you'd better consider choosing a crypto wallet featuring multi-currency support. If you're going to use the crypto wallet to send and receive one crypto coin, you should check on the developer's website to see if there's a dedicated wallet for your needs.
- Crypto wallet encryption.
- Are you prepared to trade daily?
- Is it important for you to access the crypto wallet quickly?

Cryptocurrency wallet safety

Security plays a significant role when you need to choose the best crypto wallet for your needs. It's important to carry out plenty of research about the crypto wallet's security features before making the final decision. If you need to ensure all your funds are safely stored, you'd better opt for a hardware crypto wallet.

With that said, let's see how to keep your crypto wallet safe.

How to protect your crypto wallet

The following tips should give you clear guidelines on the best way to protect your cryptocurrency and keep your crypto wallet safe. You may not need all of them. However, this list should help determine whether the crypto wallet is safe and what works best for you.

- Store your crypto assets in a cold, hardware crypto wallet. You may not need all the crypto assets that you own. It's always wise to store a small number of crypto assets in a hot wallet for transactions and keep the rest of those offline.
- Use reputable exchanges. Do your research to determine which cryptocurrency exchanges have ever been hacked. Don't put your investments at risk when choosing an exchange that can potentially put your crypto assets at the risk of a cyberattack.
- Set a complex password. Never reuse a password you already have on any other website or app.
- Avoid phishing attacks. Never log in to your cryptocurrency exchange unless you're sure you are on the correct website. Save the URL address to favourites and consider using it rather than clicking on the links randomly sent to you. This is one of the best ways to protect your cryptocurrency.
- Don't use public Wi-Fi to access your cryptocurrency exchange or your crypto wallet. Instead, maintain your online privacy by using a VPN service.
- Make sure that your device and all software installed on it are always updated.

Safety of StormGain crypto wallet

StormGain gives you access to free, multi-currency wallets right after the signup (https://stormgain.com/easy-start). Our built-in crypto wallets make trading and exchanging cryptocurrency faster and safer than before. It takes seconds to get started and access 10 secure crypto wallets right after the registration. Thanks to the two-factor authentication, strong encryption and industry-leading security protocols, you may rest assured your crypto assets are always kept safe.
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on October 24, 2023, 12:08:37 PM
JPMorgan: Bitcoin spot ETFs to be approved by 10 January

Bitcoin is once again approaching a six-month high of around $30,000, gaining 13% in October.

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This growth is due to the approaching deadline for approving Bitcoin spot ETF applications and the SEC's refusal to appeal the court's decision on Grayscale.

(https://steemitimages.com/p/21PRtjKRXPQybj4WUXScWv5QPLninWRxfbcWNsx7SenD7FwpwSnPEGSd18UDhuWjAKg3kLMCirP2MwUxTyVNp4VnjGnj3SjBPoc5B75pGrWTkTgyXNUaALaZqHcr2UDFRjsyc1Z7MCps2Ma3xLKwUia?format=match&mode=fit&width=640)

The regulator became famous for its negative attitude towards cryptocurrencies and instruments based on them. In August, the SEC learned its lesson from a federal appeals court that dealt with the case about the regulator's refusal to convert a Grayscale Bitcoin trust into a spot ETF. The judges called the regulator's position "arbitrary and capricious" due to the lack of clear reasoning.

SEC could have appealed this decision by providing new evidence to explain the refusal. However, the deadline for an appeal was 20 October. This dramatically increases the chances for automatic conversion of the Grayscale fund in 2024 and the emergence of spot ETFs from other applicants. JPMorgan analysts suggest that the SEC will approve all applications in bulk by 10 January so as not to give a competitive advantage to any of the players.

The emergence of Bitcoin spot ETFs will likely lead to a cryptocurrency rally. The world's largest investment company, BlackRock, which also applied to create an ETF, manages $10 trillion. 1% of the funds in its management that can be used to diversify the portfolio accounts for 1/6 of Bitcoin's current capitalisation.

(https://steemitimages.com/p/21PRtjKRXPQybj4WUXScWv5QPLninWRxfbcWNsx7SenD7FokbdZem79zXhsBHCYLFGgAV29vXvoGzq9arHJT3WH1fycWvDXZ7WZqCMQqdY4gmCi1h7hNemZErngrx6y9Cme8YV9QbR3Q37HgmwzLXLS?format=match&mode=fit&width=640)

The inflow of institutional capital will ensure significant cryptocurrency growth. In 2021-2022, institutional investors were the main reason behind Bitcoin's growth from $10,000 to $60,000. The Grayscale Trust Fund alone has bought 300,000 BTC (about $9 billion at current prices) despite the fund having significant cons against spot ETFs.

(https://steemitimages.com/p/21PRtjKRXPQybj4WUXScWv5QPLninWRxfbcWNsx7SenD7FwNkw2gWic3fBDFRp3nAgmGLwty3RqMsikGjwTVW7TcGxbk5n56U55RdywYSeVitfFzvQPAVVahBvCKKTkKZioFFhwtLwe21zCGbsDwVY2?format=match&mode=fit&width=640)

According to Skybridge Capital's Head, Anthony Scaramucci, after the long-awaited ETF approval, the long-term Bitcoin capitalisation will increase from $600 billion to $15 trillion, with the asset's price jumping to $250,000 in the new cycle and $750,00 by the decade's end.


StormGain Analytical Group (https://stormgain.com/)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on October 25, 2023, 12:28:42 PM
Rags to riches: MicroStrategy is about to make $1 billion in profits

MicroStrategy, the largest public Bitcoin holder, epitomises the buy-and-hold strategy in the cryptocurrency market. The company made its first purchase in September 2020 for $11,600 a coin and continued to add to its holdings once a quarter.

It held onto its subsequent purchases during both market rises and falls. The media began to bury MicroStrategy after the May 2022 crypto collapse, when the market price dropped way below the average value of Bitcoin in its reserves ($30,700 at the time).

(https://steemitimages.com/p/JvFFVmatwWHRfvmtd53nmEJ94xpKydwmbSC5H5svBACH7yDoZjiaMwNGqs1tYQ5oFDs4RFL7yN7JfSXx2T5RQFoThHNGCNwCte4szVEYkxPjTGrf2sMffM2rMLTbYpZaewKfZm1GA2?format=match&mode=fit&width=640)

Despite the difficult times and some forced measures to refinance part of the company's liabilities, MicroStrategy's Executive Chairman, Michael Saylor, held to the strategy. In a June 2022 interview, he called Bitcoin "a lifeboat in a storm", referring to rising inflation and an upcoming financial crisis.

After waiting for the drop in Bitcoin's price to slow, MicroStrategy returned to buying. This allowed it to reduce the average price of the BTC it held. The current average cost per coin is $29,870, which is way lower than Bitcoin's current price.

(https://steemitimages.com/p/JvFFVmatwWHRfvmtd53nmEJ94xpKydwmbSC5H5svBACH7ycpy7xpHQBPAQF2KphFX77qhq7yc76KZYcaG4rBQjmfhNMe7Gnm2Kp7dNYwSBkkcCtPepLKYzBxH9iyfTo6u6eDJSytDL?format=match&mode=fit&width=640)

In terms of reserves among public market players, the company is the absolute leader, holding 158,245 BTC. It's spent a total of $4.7 billion on the cryptocurrency, while its portfolio value is currently worth $5.4 billion for an unrecorded profit of over $0.7 billion.

(https://steemitimages.com/p/JvFFVmatwWHRfvmtd53nmEJ94xpKydwmbSC5H5svBACH7xr3WRy8VUGdSvM8E7zfwx5SrRaH994gr4YoBJZ7nzmT3naDxL2T6v9VhPgXdbdcgG5CJG3PtTLQ2LVWu4wJd7VoUq7FhG?format=match&mode=fit&width=640)

Michael Saylor has repeatedly stated that cryptocurrency is a more progressive asset than traditional financial instruments. In three years, Bitcoin's price increased by 147% (as of 20/10/2023), while the S&P 500 gained only 26%, and bonds and precious metals are showing negative trends.

(https://steemitimages.com/p/JvFFVmatwWHRfvmtd53nmEJ94xpKydwmbSC5H5svBACH81bNARx1cMeYhiy3oY6J5q56TzVcno7n4QBExXpYgcsZLydsaz7LYF5NjLQdGnE1rsk54BbmAYTML9EivEHhwmCVyoVr8n?format=match&mode=fit&width=640)

Over the past 24 hours, Bitcoin skyrocketed by 10% to $34,500.

(https://steemitimages.com/p/JvFFVmatwWHRfvmtd53nmEJ94xpKydwmbSC5H5svBACH813rZ4aYzXcts7uML2XLDE8nMGHBp35M5JnzJCC16k6oEPDK6CL5Qm212rsu1qE9wjZQTaMppsbJnALNwnJQ5WUgURfbTk?format=match&mode=fit&width=640)

The breakthrough is due to a significantly increased chance that Bitcoin spot ETFs will be approved in the US in the next 10 weeks. If they are approved, it would pave the way for institutional capital to participate. The volume of subsequent investments in cryptocurrency in the first six months alone is estimated to be $100-$200 billion, leading to the asset undergoing significant strengthening.


StormGain Analytical Group (https://stormgain.com/)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on October 26, 2023, 10:01:56 AM
Open interest on the CME sets a record of 100,000 BTC

The anticipation that a spot Bitcoin ETF will soon appear in the United States is fuelling investment interest in the cryptocurrency. Both retail traders and institutional investors are showing signs of renewed activity. Open interest in futures on the Chicago Mercantile Exchange (CME) exceeded the previously unseen level of 100,000 BTC, and daily trading volume reached $1.8 billion.

(https://steemitimages.com/p/TZjG7hXReeVoAvXt2X6pMxYAb3q65xMju8wryWxKrsghkMb4mkB7pFU7WaKoNVmKcBKbYZLd9vFjYYwyZvoSPfDv1GA5HEcfPrKG9MKqpMhNGwXr82pJ6LFT6KQbEnxcbNmgJuwXebSTK4?format=match&mode=fit&width=640)

The activation of institutional players can also be seen in the inflow of investments into various ETFs around the world. Last week, $55 million was invested in Bitcoin, and a more significant jump is expected to be seen in this week's totals.

(https://steemitimages.com/p/TZjG7hXReeVoAvXt2X6pMxYAb3q65xMju8wryWxKrsghkLaKP7Qi9VMTxvuzx7QwCKxG8t9kib9rigy6LiTFZuvnq7127Hi8FTevsYkuQo2XqbMEn3MtJvUST2eJiF1cQ8rSviSN1N1jQz?format=match&mode=fit&width=640)

This has been brought on by two recent events. The first is that the SEC refused to respond to Grayscale's appeal, which significantly increases the chances of converting the trust fund into a spot ETF. The second event is the emergency of preliminary information about a new ETF from BlackRock, which was assigned the ticker symbol IBTC and appeared on the website of the Depository Trust and Clearing Corporation (DTCC). Investors interpreted this news as a sign that spot ETFs would be quickly approved, after which Bitcoin's price reached $35,000.

(https://steemitimages.com/p/TZjG7hXReeVoAvXt2X6pMxYAb3q65xMju8wryWxKrsghkLceV1PqPfefNAfLoQEXxxmeh23eKTFEhGnDX5xe9qwiAJmAxzZBmQDaLcw9sjWaHimKj4ir7T27N4oprn3At2Gg4UVJB1YzES?format=match&mode=fit&width=640)

Traders on crypto exchanges holding short positions were caught off guard. Over the course of 24 October, their total losses exceeded $300 million.

(https://steemitimages.com/p/TZjG7hXReeVoAvXt2X6pMxYAb3q65xMju8wryWxKrsghkLzDubCQPkJBUdYNjsutBuLwnLQVG1fTSJ23rJXVqEY1QKmPmCtYG4123v6foe4bkF9qd1zr7oYBX7XyF6MNnsJJ1B2B6XZnh4?format=match&mode=fit&width=640)

Now, few are risking a move towards selling, which is why the financing rate has moved into positive territory. Some analysts even cautioned against opening new buy trades since market makers could be exposed to possible price manipulation when futures positions are skewed in the absence of significant trading volume.

(https://steemitimages.com/p/TZjG7hXReeVoAvXt2X6pMxYAb3q65xMju8wryWxKrsghkPXPheNxgvZJVNTiGSN6wwwNc8jWkEfEimMPBiBG5qUBvAZ1vi23nsNGKneuqg9mAxsbQirdfjrqAFpjzpNZwz97e5MxngcHdx?format=match&mode=fit&width=640)

However, everyone sees a positive scenario in the long term, assuming that ETFs are approved. For example, Charles Yu of Galaxy Digital Research used the dynamics of the inflow of investments in gold ETFs for his forecast but adjusted for the difference in capitalisation. According to his calculations, in one year, Bitcoin's capitalisation will approach $1 trillion, and the price per coin will reach $59,000.

(https://steemitimages.com/p/TZjG7hXReeVoAvXt2X6pMxYAb3q65xMju8wryWxKrsghkPVrZp8F8wJscWiE7GuFXyTv6vquaUyDKzZMudtCnqfF7Q4yftdBacGRE6PUh5y555m5dhLei4R3M9qLz7L6ZLS1ypdkPcYU1L?format=match&mode=fit&width=640)

The nearest approval deadline for the launch of a spot Bitcoin ETF is 10 January 2024.


StormGain Analytical Group (https://stormgain.com/)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on October 30, 2023, 08:48:09 AM
Solana overtakes Bitcoin in terms of growth in investments in crypto funds

In October 2023, the crypto market has been seeing a significant revival expressed both in the growth of retail trade and activity among institutional capital. Crypto funds are recording a 44.3% increase in daily trade volume compared to September.

(https://steemitimages.com/p/3zpz8WQe4SNGWd7TzozjPgq3rggennavDx3XPY35pEAVnq2f3dAGbjw66s3z9zJTn56Ex8XtLw1YFAf1RMtTj1aJ8k9a3ECEfq61JU6s9WkaPa82PzQM6YMV9rXXHdBPTwLPLwn3fsdb8rZZsqmY?format=match&mode=fit&width=640)

At the same time, the total amount of assets under management (AUM) increased by 6.7% to $31.7 billion.

(https://steemitimages.com/p/3zpz8WQe4SNGWd7TzozjPgq3rggennavDx3XPY35pEAVnpwLH5p7biPV9FUW39dG3hGKSmbyr8oqy8Fz8Wrrx6JnETKkMBBr3i7QYRWMqFBzz9QQVWTb4EPCznfUG8CgrU17musSjrrwoWeByj4J?format=match&mode=fit&width=640)

As expected, most of the funds were accumulated by Bitcoin, which holds a 73.3% share of large players' interest, worth $23.2 billion.

(https://steemitimages.com/p/3zpz8WQe4SNGWd7TzozjPgq3rggennavDx3XPY35pEAVnqCqRd8iS2jBwLk5oyDDojnx45bGcQcmqJTXYYQq2EVYrGpWqWrEiv9yG8QcW5UsgSN5iu7UWT3UPQxdeKWoYFKCVDEeAY8X1C8YMeTY?format=match&mode=fit&width=640)

However, there's been a change in sentiment regarding altcoins. Ethereum remains the second-largest coin in terms of investment attracted, coming in at $6.4 billion. However, compared to September, it's seen an outflow of funds and a decrease in its share from 22.6% to 20.1%. In contrast, Solana is seeing a 74.1% growth in incoming funds to $140 million.

(https://steemitimages.com/p/3zpz8WQe4SNGWd7TzozjPgq3rggennavDx3XPY35pEAVnpv3pFLLfPhnWGzbaQPi2Q3CyNuYiGwSNb4CwtBaKJRK8XaftmwH4nGCjUdaCF3wmgJJp98PayDvVw65nTGTBr14FaYYcZ3sE5SZbPbk?format=match&mode=fit&width=640)

Interest in Ethereum is falling both for internal reasons (increased centralisation, reduced staking profitability) and because of moves by the SEC (preventing the promotion of staking in the United States, labelling the altcoin a security).

In recent SEC claims, Solana has also been designated as a security, but this hasn't prevented the project from attracting large companies to work with it. In particular, the e-commerce giant Shopify has added the Solana Pay service to its list of payment methods (currently, settlements are available only in USDC). Visa also uses the blockchain network to conduct faster and cheaper settlements in the interbank market.

(https://steemitimages.com/p/3zpz8WQe4SNGWd7TzozjPgq3rggennavDx3XPY35pEAVnqCtawkagFr2pDwiEKNXmQLUAcJTK5JVfmE9VoxW3L7PBUfmhVvWEUomA1MWcGf3Ldv4mnf2bmHMEVhe8zSbXSv93fwxkTm5ojx7W2GN?format=match&mode=fit&width=640)

In addition to Solana's good prospects for expanding its business, it is also attracting investors due to its low entry barrier. In 2022, the cryptocurrency's price plummeted by 94% to $10 per coin.

This strong decline was caused by a number of joint projects implicated in FTX's collapse. The failed crypto exchange's accounts still contain nearly $2 billion worth of SOL. A court decision recently authorised Galaxy Digital to oversee the liquidation of FTX's assets. According to Galaxy Digital, it will set a monthly limit of $100 million in order to minimise the negative impact on Solana's price.


StormGain Analytical Group (https://stormgain.com/)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on October 31, 2023, 10:14:05 AM
Bitcoin hits new highs in Argentina, Turkey and Nigeria

For some developing countries, inflation is an extremely acute economic problem that indicates a rise in the cost of goods and a drop in the population's purchasing power. The countries experiencing the highest inflation today are Venezuela (360%) and Zimbabwe (315%).

(https://steemitimages.com/p/9vWp6aU4y8kwSZ9Gw15LFL3aMdhmgmBBFMpDJregpdP328QaAae1T9DftkKUTzkGKyax41eztjRmYCync6SgmwD9XrybzLRrpGKfbRcfGAJSR4gseqT4FrYVpbyj9YCEWZyVuJnk9XTFrowi6?format=match&mode=fit&width=640)

Inflation is generally caused by short-sighted political decisions. In Turkey, the rise in prices was caused by President Recep Erdogan's refusal to tighten the country's monetary policy. The low key interest rate and high government spending caused the economy to overheat, leading to skyrocketing inflation from 20% in mid-2021 to 80% in mid-2022.

(https://steemitimages.com/p/9vWp6aU4y8kwSZ9Gw15LFL3aMdhmgmBBFMpDJregpdP328bcJdccy18Tne53nyt9ZYmSB6ZnJELZ63q71i9UcJSsQCxk1Baj6NC9JsZpiCYhuZQ5jeabraUhMdz4tqiDoiEAKbDk4VHgX9RRQ?format=match&mode=fit&width=640)

As a result, Turkey faced a significant increase in the prices of imports, and even Bitcoin, which is still trading at a 50% discount from its all-time high, has set new highs against the Turkish lira.

(https://steemitimages.com/p/9vWp6aU4y8kwSZ9Gw15LFL3aMdhmgmBBFMpDJregpdP328zFgL7onJVyYRrwwiFNCgWjMbRiEtXKjYjrCXGWXJ2ushupmgxyoVyxai6WhTgUQTUjSJ12ZCTVSrQK7C4LYk6G8wmzfEgsDr5c2?format=match&mode=fit&width=640)

Turkey authorities are putting up all kinds of roadblocks in the way of cryptocurrency's penetration into the economy. In 2021, the country banned the exchange of lira for digital assets and vice versa. As such, despite Turks' strong interest in cryptocurrencies, the country has not become a new crypto hub.

Things are a bit better in Argentina, whose population is also suffering from high inflation and devaluation. Argentines try to exchange spare pesos for Bitcoin or stablecoins as soon as possible, which is why the country leads Latin America in crypto transactions with $85.4 billion a year.

(https://steemitimages.com/p/9vWp6aU4y8kwSZ9Gw15LFL3aMdhmgmBBFMpDJregpdP329eeJW73Vv18WdGmiJR2jYevQ8fFMWnxotVQPKKo7bZhM3CaE1KXGXvY5ci7EiXj3g3xkoRXJkErZMzhuYRULDobhbVoebYKFtUHc?format=match&mode=fit&width=640)

One of the possible solutions to the economic crisis offered by politicians is the rejection of the national currency and the transition to settling financial transactions in US dollars. But El Salvador's president, Nayib Bukele, whose country has already travelled down this road, advises moving to Bitcoin instead of the dollar. Michael Saylor, head of MicroStrategy, the world's largest public holder of Bitcoin, shares a similar opinion.

(https://steemitimages.com/p/9vWp6aU4y8kwSZ9Gw15LFL3aMdhmgmBBFMpDJregpdP328fDPkcpyUj2uHaC8Low2qmFhe6Dp3wJHDoQPNYZXKUND2vA8Pn7b3tqTMXvPdaUEKFFCvGsddyDUjQstBTBWixtgVTcymMTSLFRx?format=match&mode=fit&width=640)

Digital assets have a higher degree of penetration in countries with high inflation. In Argentina, for example, at least 11% of the total population uses cryptocurrency, while that figure stands at 4.2% globally.


StormGain Analytical Group (https://stormgain.com/)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on November 01, 2023, 02:41:11 PM
5 events to follow as a crypto investor

Binance trial

Binance is the largest crypto exchange, with a 52% share in the derivatives market. But its share in the spot market declined from 55% to 34% in 2023. This was due to American regulators who limited the American division's operation and sued the company and its CEO.

(https://steemitimages.com/p/TZjG7hXReeVoAvXt2X6pMxYAb3q65xMju8wryWxKrsghkQ633qyLqVz1MTSkyvnbW8PYcK41chhPvVqwLQytMTBKAEsB7JrMcqSa9RcpWG4MUPsaRmVvzwCoQHr6BZzQsoszd8hVtK8ZNE?format=match&mode=fit&width=640)

The key risk lies in the Department of Justice joining the SEC's lawsuit, bringing with it more serious charges. According to Bloomberg, the crypto exchange is accused of breaching securities law, tax evasion and helping regional players circumvent international sanctions. These accusations will result in global payment systems refusing to cooperate with Binance, and given its weight, it'll affect the crypto market negatively.

SEC vs altcoins

SEC Chairman Gary Gensler has repeatedly stated that he's prepared to recognise only Bitcoin as a commodity. Other coins, in his opinion, must be regulated by securities law. Under pressure from the SEC, some American crypto exchanges stopped providing staking services. That led to Ethereum lagging behind Bitcoin by 27% in 2023.

(https://steemitimages.com/p/TZjG7hXReeVoAvXt2X6pMxYAb3q65xMju8wryWxKrsghkKeaPwWS8Xruk25BMjppTLf44TM1az7YHjJ1rKFdhpkbU5vdfAHdwfEA7DAxPXr7hCUnmE9S26MWM4UemSHhQwzpnrebsKYFhg?format=match&mode=fit&width=640)

The Coinbase crypto exchange strongly disagreed with the regulator's position, so it continued to provide staking services and is ready to defend doing so in its upcoming case. If it wins, Ethereum and some other major altcoins will get a powerful growth boost.

Spot Bitcoin ETFs

A real crypto hype and the onset of the new rally are expected with the emergence of the first spot Bitcoin ETFs in the US. The application deadline expires on 10 January 2024, with one of the applicants being BlackRock, the largest global investment company with $10 trillion in management.

(https://steemitimages.com/p/TZjG7hXReeVoAvXt2X6pMxYAb3q65xMju8wryWxKrsghkPWgmEg1J43po6az2Rvekr3T46PKx5iiQSzLXFaUBZVTpUDwf1MfxWSSsn1CBSxkkKPoykcvo4ESVuf6r7Bz9YpaSyymsp8EB8?format=match&mode=fit&width=640)

According to Skybridge Capital, if ETFs are approved, the unmet high demand for Bitcoin from institutional investors will lead the price to skyrocket to $250,000 in the new bull cycle.

April 2024 halving

Speaking of the potential crypto hype, it's worth mentioning the upcoming halving of the block mining reward. In April 2024, it'll decline from 6.250 BTC to 3.125 BTC. Reducing issuance is a powerful deflationary factor that fosters the asset's price growth.

(https://steemitimages.com/p/TZjG7hXReeVoAvXt2X6pMxYAb3q65xMju8wryWxKrsghkMBcF2SwH5gXkRWZ2nUXHnR7b4s9o1YmekMbqShFCreaz7jHeHEaGAGHbmzLu8mkeZ39FGeRGeedB37rKmSUMuqMMGaYMiuxAr?format=match&mode=fit&width=640)

The circulating supply has been declining since 2020, and more and more coins are settling in cold wallets until better times. With the emergence of ETFs in the US and halving, a supply shock is inevitable. According to Ark Invest's optimistic forecast, Bitcoin will grow in price to $1.5 million by 2030.

The US Federal Reserve's monetary policy

Since the US is the world's largest economy, its financial policy affects the whole globe. Because inflation accelerated in 2022, the Fed started hiking its key interest rate, which resulted in a global outflow of funds from risky assets (including crypto) into US Treasury bonds.

(https://steemitimages.com/p/TZjG7hXReeVoAvXt2X6pMxYAb3q65xMju8wryWxKrsghkM1VqDtZyU3AnF9N1pibmK3bhthwG3wHVhutwfv9NCwUnfujaBYmi7qSLCyyHwSfQkQRJj3akDt5mjsVC2iFkd3Xu6jjBMNVhY?format=match&mode=fit&width=640)

However, more and more economists agree that the Fed will soon do a 180. Because the rate is high, interest expenses on servicing the national debt reached $1 trillion or 4% of GDP, and for the first time in 20 years, they exceeded defence spending. If the regulator lowers the key interest rate, it would support the crypto market's growth.


StormGain Analytical Group (https://stormgain.com/)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on November 02, 2023, 11:41:41 AM
Weekly inflow into crypto funds exceeded the annual level

Existing exchange-traded crypto funds are seeing high demand for crypto's. Last week, the net annual inflow totalled $260 million, while $326 million in investments came in during the same week.

(https://steemitimages.com/p/3DLAmCsuTe3bV13dhrdWmiiTzq9WMPZDTkYuSGyZVu3GHrFRGXbzV8qCfrLJWV9RQiHcjit2GHBv5rdcWgBBgrmhzXgFiGuz8odNd6UupEzbiet4NobDunCJ5KNeQSbdoMVpF7d2b4ckqTSxKKx2PrnDuanAfAn?format=match&mode=fit&width=640)

This is primarily because institutional investors are interested in Bitcoin, which received $296 million or 90% of the total inflow volume. Solana is second with $24 million (we've previously covered the reasons behind the interest in this altcoin). In this environment, Ethereum is looking dull and continues to lose investments.

(https://steemitimages.com/p/3DLAmCsuTe3bV13dhrdWmiiTzq9WMPZDTkYuSGyZVu3GHrDaTdshwsHCm1LGi8NBhQ3vdkySUwyufhC5JHRpNd7SueQT7JjVWymWyXxe67eou6Y3uvSHUWzxuEZsPVZXWGWVEhWgXvQfxgWfTChWeF6qEwgidGS?format=match&mode=fit&width=640)

The spike in interest in Bitcoin is due to the increased chances that spot Bitcoin ETFs will be approved in the US before 10 January 2024. Last week, information emerged that ETF applicants had sent revised documents. This signals that a dialogue is taking place between market participants and the SEC.

(https://steemitimages.com/p/3DLAmCsuTe3bV13dhrdWmiiTzq9WMPZDTkYuSGyZVu3GHrSawn7MUR2rNj7mmziqVSPssKxhPafgYYMU65G3r6YvPA2JgDa1y1rmcBAkpM4xhLQQfsV91MM3GP4L3JxqfX2LVHowN8kMrNEB9mF1gFMjS6yDW3Y?format=match&mode=fit&width=640)

The SEC also refused to appeal a court decision on Grayscale's claims. This greatly increases the likelihood that the trust fund will automatically convert to a spot ETF next year.

For these reasons, Bitcoin's price rose by 10% last week, consolidating around $34,000.

(https://steemitimages.com/p/AmRc67RgYaWTCbCd1L4AQP82AFWYYzZC15DpSZWeSYgzVP9aiCKn8DaMqfjbBjchxvuVwtmgo5ZE22nn8WwgXLrYMitkY9Ss9BC8aiHZmuwrPqCRazeSrTdRUQPQFYr2KjtNXPwmDqKrfEw7LnsGxyDr3tMbTKo4?format=match&mode=fit&width=640)

In contrast to the growth at the beginning of this year, market participants believe the chances of it continuing in Q4 are high. This is evident in the renewed outflow of coins from cryptocurrency exchanges since May, indicating that only a few market participants are willing to part with Bitcoin despite its higher price.

(https://steemitimages.com/p/3DLAmCsuTe3bV13dhrdWmiiTzq9WMPZDTkYuSGyZVu3GHrK1hWZ5ZvCptmdFVaACzqVab5FKjeXaQZSxiVtYTY62qoNjMTcZXWcnf67WKdce9D3xMZbhNZsRjrWDLxTzYNYbYQeXjAZD7xG88iawJY1ZaKpzeJ2?format=match&mode=fit&width=640)

Bitcoin was recently praised by one of the best hedge fund managers in the world, Stanley Druckenmiller, whose average annual return over 30 years of fund management is 30%, surpassing the results of even Warren Buffett. Druckenmiller said:

Young people look at [Bitcoin] as a store of value... It's a brand. So, I like [Bitcoin and gold]. I don't own any Bitcoin, to be frank, but I should.


StormGain Analytical Group (https://stormgain.com/)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on November 03, 2023, 10:27:39 AM
Why Solana doubled in price in 40 days

Since October, Solana's price has doubled to $42 per coin, reaching a market capitalisation of $17.5 billion. SOL is fourth in the overall altcoin rating (excluding stablecoins) and second in terms of daily trading volume.

(https://steemitimages.com/p/7b4bio5hobgskW8qdPdvSqcwwJTvbiCMpGmRey1Rtd8H5qrXzsKxodfgApjUz6jN6FJbDb752stSGWBJJxhMK9XW2pXfHrBwr51XoU8PByJUzYrGgvkfhMA3gxR6DbnQ4NUmYiwTSL1jm63H3NJn8LqHbjNn?format=match&mode=fit&width=640)

Solana is the top altcoin in terms of investment volume in crypto funds due to high interest among institutional investors. Over the past 12 months, $98 million has been invested in Solana funds, while $125 million has been withdrawn from Ethereum funds.

(https://steemitimages.com/p/7b4bio5hobgskW8qdPdvSqcwwJTvbiCMpGmRey1Rtd8H5qx2W58oktZ9UGbz4xPzztkidByVZpMKk1JwfQuZE279ZNR9bmE7TADNCfmfk8tFqdhEiQGi9R5hKguTSLjqvxbFQEcCJ5JUAKH4dNXJeuMq5Qsx?format=match&mode=fit&width=640)

Back in August, we talked about the coin having growth prospects as the project continues to grow its business connections. The Solana Pay service was first added by e-commerce giant Shopify, and later, it was revealed that Visa was using the blockchain for faster and cheaper transactions in interbank exchanges.

(https://steemitimages.com/p/7b4bio5hobgskW8qdPdvSqcwwJTvbiCMpGmRey1Rtd8H5rfVHPuEkmt22iRScC3FcxfbndFzJyP2DBKoVQvQrJ8MiBLDxhhV6GEUL2LHJncPcJctqf4rVztd6uKKu5Rkemk5tLdzvC282F47GQLJ4j3HbDKL?format=match&mode=fit&width=640)

In late October, interest in Solana was fuelled by a report from investment firm VanEck, which has $76 billion under management. The report detailed that the base case scenario sees the coin rising to $335 and that the bullish scenario forecasts growth to $3,211 by 2030.

(https://steemitimages.com/p/W5LtFUPm6g7111bbdcuxu3bfUg5qaCq8seb5paCtrrT7zS3B3FX6En4ZxkCTCC2pjVSGHgeMf55JLS6MXd37gzXCQMCFDuoYV2tr9SVrhpyUFphsbwAPheDiBqC5VXUHeuqtuugqtJBkrmjKNEunYwJNUB4BQ?format=match&mode=fit&width=640)

According to VanEck analysts, Solana has a better chance than other blockchains of creating a "killer app" with over 100 million active users. Both the highest bandwidth and ultra-low transaction fees contribute to this.

(https://steemitimages.com/p/7b4bio5hobgskW8qdPdvSqcwwJTvbiCMpGmRey1Rtd8H5qzsWpgtxMsYfF3nsNZzbvpU8v3zAEcHsEnZE87rCDTpK63xr58fqviSpZATf5qcfuMkjqPNyzG6i4f1Vt8D6TQMRo2MPCm7LNLVHBuPGMoYCQnJ?format=match&mode=fit&width=640)

A significant gap from competitors will be provided by the new Firedancer validator client, which is currently undergoing testing and is expected to be deployed in the first half of 2024. According to Solana Founder Anatoly Yakovenko, Firedancer will be a cure for the "curse" manifested in frequent network failures. Last year, they occurred on average every two months, and in February 2023, the network was down for 19 hours.

(https://steemitimages.com/p/7b4bio5hobgskW8qdPdvSqcwwJTvbiCMpGmRey1Rtd8H5qtgQNYGRECwpxMHztLmAFrASRprXF9bTeRXtFoLaux5RtbiAD2p6ufAux3pFaTxnBSV5MMBdmPBncFnTJ1ET9n7fzdubVfmV9nMNgQLfmyZLMxi?format=match&mode=fit&width=640)

But Solana's prospects aren't that sunny. First, the sale of $2 billion worth of SOL from the accounts of the bankrupt FTX began. The liquidator announced a limit of $100 million per month in order not to negatively impact the price. Second, VanEck recognises that because Solana's architecture is so complex, implementing Firedancer doesn't guarantee that there won't be any critical bugs in the future.


StormGain Analytical Group (https://stormgain.com/)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on November 07, 2023, 10:38:11 AM
Bitcoin appreciates 93% versus gold in 2023

Renewed interest in cryptocurrencies has led to a record inflow of institutional capital into exchange-traded funds and really put a gap between Bitcoin and traditional investment instruments such as stocks and gold. Ethereum's price rose by 39% against the precious metal, while Bitcoin's saw an impressive 93% leap.

(https://steemitimages.com/p/21PRtjKRXPQybj4WUXScWv5QPLninWRxfbcWNsx7SenD7Fp9mTKwik18tRNgESaw2NesGd9zecPiYi2iQgvsGaDvQYkxrM4gbRCJfkdYD7nVeAG1V1AeX8Jy4vVkhNU8MbewU5KLsDb5PpYyU6a4Xpa?format=match&mode=fit&width=640)

Support from hodlers, who have been accumulating again since January 2023, has played an equally important role. By October, they had reached accumulation levels of 50,000 BTC per month, and now, their aggregate reserves are approaching 15 million BTC.

(https://steemitimages.com/p/21PRtjKRXPQybj4WUXScWv5QPLninWRxfbcWNsx7SenD7Frgxe9dL6pAV46RvkAKmpJZ3yXaeAvgUfqctXRr4YCdmuwknk2sC9tuiWPzAbVXA6pQjCf992zrrADf5aUqeW2eVF38ag9LJxeqRNMA51G?format=match&mode=fit&width=640)

Because crypto enthusiasts believe in Bitcoin's future growth, the crypto saw only a 20% drawdown in 2023 compared to a 36% drop during the 2017 rally.

(https://steemitimages.com/p/21PRtjKRXPQybj4WUXScWv5QPLninWRxfbcWNsx7SenD7FxB2z1fFxHFdCMUU5F1i2Wby5NiPBG1pvCBb6sAUjPpkWhZttwXiAfp45NfdGXbBgFV2Sf916L1DNSMFK4UoyLCaexJKqoZ14QAmbPignr?format=match&mode=fit&width=640)

Thanks to macroeconomic support that could come from the potential resolution regarding spot Bitcoin ETFs in the United States, BTC's share of the cryptocurrency market has grown to 53%. On the other hand, that indicator has decreased for Ethereum, other altcoins and stablecoins.

(https://steemitimages.com/p/21PRtjKRXPQybj4WUXScWv5QPLninWRxfbcWNsx7SenD7Fs9Eo4MzmN58yLfkthkncafg7BArjtvjHZVe5HqN8tewQ8dnHRZDaARqMutwbyZunRbDV6qVmXVE4HiqRGgjwttfpym7dEgDx2NZZiDhkS?format=match&mode=fit&width=640)

Yesterday, Fidelity's Director of Global Macro, Jurrien Timmer, called Bitcoin a "commodity currency" and "exponential gold". In his opinion, gold is "too clunky", so investors are increasingly considering Bitcoin as its replacement.

For reference: According to Fidelity's website, as of 30 September 2023, the firm has assets worth $11.5 trillion under its management. The company has previously submitted an application to the SEC to launch a spot Bitcoin ETF.

(https://steemitimages.com/p/5ShzsKnKF7vppGeV6VN3m3GSDcLoRruAhMmifZtFSDkYScR8VF8FGDdesH8T1MspGkeZGqovaZYQ9vk8D7CMBMknDuCBY4AM3Vi87KNW7jcf7APsZrRwRey7g7Am4cFXGJR6hJGDEFVV4An4wsxk1Cdc?format=match&mode=fit&width=640)

Fidelity is far from the first investment company to recognise the shift in large investors' interest from gold to Bitcoin. Analysts at Bank of America and JPMorgan had previously come to similar conclusions.

The cryptocurrency's active expansion is constrained by the lack of clear regulation and high volatility. However, over time, the former issue will be resolved by legislation, and the second will be levelled as BTC's capitalisation grows.


StormGain Analytical Group (https://stormgain.com/)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on November 08, 2023, 09:08:59 AM
Bitcoin hits new highs

Renewed interest in cryptos led to new one-year and all-time highs. The net inflow of capital into digital assets over the past 30 days reached $11 billion, which is the best result in 2023.

(https://steemitimages.com/p/32FTXiZsHoAW6noHJDhrg3W8ZKHVFSsLYM859aTDCF8iErFm1uDJq6quGdpNyqM618qmSTJ5yfRnHQEy9XYHSPK7FWhDmj2RTvXuXGZd3xRAmTPRzZauR1rFQuL4RjkpXS4TFkD8RSWfg5gi?format=match&mode=fit&width=640)

Over the past six weeks, $767 million of institutional capital flowed into crypto funds, exceeding the $736 million seen in all of 2022. This is the best level since the end of 2021 when the bull market went into decline.

(https://steemitimages.com/p/32FTXiZsHoAW6noHJDhrg3W8ZKHVFSsLYM859aTDCF8iErMmAwdGPs5gTDuNZDhV3mkcBjxtnhBA8hAE37At8Qt3VK6FdBSiD7Et5Ty7zAWwdQVvTPvUpJAuVn7CQFive2DPEiBKhfghTW9L?format=match&mode=fit&width=640)

The influx of fresh capital and the reluctance of long-term hodlers to part with their reserves has less to a new high for the number of addresses containing more than $1,000 in BTC. There are now over 8 million such accounts.

(https://steemitimages.com/p/32FTXiZsHoAW6noHJDhrg3W8ZKHVFSsLYM859aTDCF8iErWS8EZrL5KEZ4JaMBk5Az4Wh4nYr1bq86SkTeXGcvYWYkZCAoK4GJ5zEXmpNBcb2GS9bVSv98TXQsNEn7GcKaEvxojuWnJHd8LW?format=match&mode=fit&width=640)

CME's open interest in Bitcoin futures on the Chicago Mercantile Exchange is at $3.7 billion, its best level since December 2021. This once again testifies to the increased interest among large capital and the formation of steady demand for the crypto.

(https://steemitimages.com/p/32FTXiZsHoAW6noHJDhrg3W8ZKHVFSsLYM859aTDCF8iErYriTX1Mxsi3Kt7Fjccq4i7XGQmQK6SD3piUQHUEv9skcNqowr9K9ZUw22wp4iP267Sifa177BKDxkEyqMWUuLVCV1sENar6Abx?format=match&mode=fit&width=640)

The price is at its highest level in 18 months and is currently testing the resistance level at $35,000.

(https://steemitimages.com/p/9vWp6aU4y8kwSZ9Gw15LFL3aMdhmgmBBFMpDJregpdP328rktBBvHFbaaBqRBrgZ5QzCeQbk8VUSy3LgujT9StQmTkhoXPB1PrQXVfJTjt8TVg3eZ5smecT59CRA4NFN14PcCHLDGSER8P4wY?format=match&mode=fit&width=640)

The network hashrate is growing by leaps and bounds. This year, it's increased by 75% to 470 EH/s. By comparison, over the past year, it rose by just 50%. In the absence of a technological revolution, this speaks to an ongoing 'arms race' in the industry and miners bringing additional equipment online.

(https://steemitimages.com/p/32FTXiZsHoAW6noHJDhrg3W8ZKHVFSsLYM859aTDCF8iErMjFNUP7iFpfcB7zuViDmEWa9AwbxGsWpS1NyGSNBR9cXh9UQpWWwkKUtVLvMmW1Rw3BVkoiF3zvnyvfgSH9DyRt1JZA8JuujQA?format=match&mode=fit&width=640)

There are a variety of reasons for interest in the crypto, including the expected appearance of the first spot Bitcoin ETFs in the United States, the upcoming halving event in April 2024, a reduction in the circulating supply, and the Fed potentially reversing its monetary policy.


StormGain Analytical Group (https://stormgain.com/)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on November 09, 2023, 08:51:18 AM
Bitcoin faces a potential supply shock

Due to the influx of new investors and the unwillingness of hodlers to part with their coins, it's becoming increasingly harder to find available Bitcoin. Currently, 68.8% of coins from the circulating supply have remained idle in wallets for over a year, while 57.1% have stayed idle for over two years.

(https://steemitimages.com/p/3zpz8WQe4SNGWd7TzozjPgq3rggennavDx3XPY35pEAVnpwbp9ePSR7E7KoM1s5q2UoNgb6FKZ7KEy2m7p8TejsSYSRCZZUpuX9NPwT1u953aZMkiL2hMgMYHxZEUg19TFrdPmTkzs6BzVwD38AJ?format=match&mode=fit&width=640)

The deficit will soon become even worse as short-term holders (STH) who were lucky enough to buy coins earlier this year reduced reserves to 2.4 million BTC. This group is prone to emotional swings when their rise in unrecorded profits and the risk of a potential correction from a significant price level push them to sell their coins. However, if the cryptocurrency continues to strengthen, STH will resume buying coins amid FOMO (fear of missing out on lost profits).

Long-term holders (LTH), on the other end, are buying Bitcoin up this year. They've taken their reserves to 14.9 million BTC. Hodlers are currently withdrawing coins from the market at a speed of 26,100 BTC a month.

(https://steemitimages.com/p/3zpz8WQe4SNGWd7TzozjPgq3rggennavDx3XPY35pEAVnpz9HUFx1qfNkqjxmAiPmaQaTHCqK1CYo2DDfNA24ftora6ECoJaVxicafe1rUqfvQXoN4k5mg3rM84vrfdky2nUGdtxZa376JeHp8hc?format=match&mode=fit&width=640)

If we talk about sentiment broken down by wallet volume, we can see that there is an active coin accumulation taking place, with coins going from shrimps (<1 BTC) to whales (<1,000 BTC).

(https://steemitimages.com/p/3zpz8WQe4SNGWd7TzozjPgq3rggennavDx3XPY35pEAVnq1NLXW1HPw74qcEc3BUJDvypq9BXySxENfqxLWHPoQZjm7unuvBTVpsaZ3WifRGyg5MhcMuZZW5coFefKfFkANREXBT2yJM8VhursXk?format=match&mode=fit&width=640)

This all indicates that most market participants are confident about Bitcoin's future growth.

(https://steemitimages.com/p/EEEoA8oLaAxsTkPYAARp78o5cJA1o6Chv9x98TzCFT6v5J92jKgXLBoYdivbXvpRJJEVHNW7MDpgMaib74xoZsW6ucWaCg5P5WZePJG1XcWH3ynwoe7mh777Nu4poDi3XK2ZTWYfucy8NXx2tzuxi?format=match&mode=fit&width=640)

Interest is fuelled by the potential launch of a spot Bitcoin ETF in the US, the arrival of which would allow trillions of dollars of institutional capital to use the cryptocurrency as an investment asset.

Julia Leung, Chief Executive Officer of the Securities and Futures Commission of Hong Kong, recently told Bloomberg that retail investors' access to spot Bitcoin ETFs is being considered. According to BitMEX co-founder Arthur Hayes, such a move would create "terrific competition" and force the SEC to take more action.

Given the decline in the liquid supply of Bitcoin caused by hodlers and the upcoming halving event, the launch of the spot Bitcoin ETF in the US will create a supply shock, and the deficit will result in a significant price increase.


StormGain Analytical Group (https://stormgain.com/)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on November 10, 2023, 01:55:56 PM
Why Bitcoin's fee soared from $0.50 to $8 and will continue to grow

A month and a half ago, the price of a simple transfer was under 50 cents, despite the record-high number of transactions. We gave a detailed explanation of the causes of this phenomenon in our previous article.

(https://steemitimages.com/p/4HFqJv9qRjVeVQzX3gvDHytNF793bg88B7fESPieLQ8dxHnGjY2TV2Cra2TdhBiGTgH7odz8hcyoRXm6C6J4DRX3JkrGBEo7fac4C89bhg5qo6HBH6XiMkrnc2DxMQ6rjKPrSQDWMsAjSH6595HoDDhwFYcrSwgaf5G?format=match&mode=fit&width=640)

The number of transactions has now returned to the same level, but the commission for a simple transfer has increased 16-fold.

(https://steemitimages.com/p/4HFqJv9qRjVeVQzX3gvDHytNF793bg88B7fESPieLQ8dxHzj78psyTQEdtgCSEsRM9uV5sKTrD5CRtnfqipWpDMHfNx8ibkDGYPobrh9CfzQL6sJJuaV1cniMqcvUskmyUADTPfHAkkSnxJZcA39tWgMPD61jxsbQpv?format=match&mode=fit&width=640)

The reason for this lies both in the increased number of those wishing to buy/exchange Bitcoin and in renewed interest in Ordinals.

(https://steemitimages.com/p/4HFqJv9qRjVeVQzX3gvDHytNF793bg88B7fESPieLQ8dxJ4v57ZWn9hkbzz5dk1o9uKMMEknF6TNgUgXg7VzvWBAXxzg6LHdTqvjYZ1PjKrtLKMuWWwFmKM5EJLy4EQnrfCSEk4126AfjJ7BG1Gr9v63ttQdTjkWuEn?format=match&mode=fit&width=640)

Ordinals are now essentially represented by JSON text messages, which are quasi-tokens. This is similar to ERC-20 in the Ethereum network. If Shiba Inu stands out among these in Ethereum's network, for the Bitcoin network, those would be ORDI or PEPE.

(https://steemitimages.com/p/FUkUE5bzkAZSUQtscsBsFx5imG6WU3gSfePkK5Gond6i72CBodHerX8CnBtFB1r4QQEhNNfif59AmAdvaVmX9tTSwpA8Ymu1eT5TYXafgER2FqPhp2z18v738Fi7pgWuupKCj7sfA4H6v9R7YXzNjKPewMXqBFJNBdFk?format=match&mode=fit&width=640)

Text ordinals don't take up much space in a block. As a result, in early autumn, the large volume of transactions didn't result in a higher commission. The ordinals were well interspersed between ordinary transfers, taking only unused space. Now, after a surge of interest in Bitcoin, the demand for both the former and the latter has increased. Binance played an important role in the hype by listing ORDI.

The network's average fee is already more than $10 and will continue to grow as some market participants are growing interest in quasi-tokens. The creator of the Ordinals protocol, Casey Rodarmore, previously apologised to users for the innovation, calling 99.9% of quasi-tokens spam.

(https://steemitimages.com/p/4HFqJv9qRjVeVQzX3gvDHytNF793bg88B7fESPieLQ8dxHkoUFAxq2s5LRJ7Wy3k4ScRv2sRGtE8XSsJQFUyVbBTD2pw78jzAysqcBYFYgCicY9MVbtg9QfwAw6adcCSiNZExTRo8AKbc5hV4ywVrHk5uJoKdddvAhC?format=match&mode=fit&width=640)

The only benefit that the traditional Bitcoin community sees in the spread of ordinals is higher earnings for miners.

(https://steemitimages.com/p/4HFqJv9qRjVeVQzX3gvDHytNF793bg88B7fESPieLQ8dxJ4tkh1eCBaJpeYVjhUoEvQYXffL2CVWfZmCkd4dJqfo33LtNsGfkqPK4AVijA1Q4P9dB7tVrQFnmgiGTDDgEypGYUsA2YjcDbSvungz8o8om8FovrWBmcA?format=match&mode=fit&width=640)

Due to the high network load, users increase the fee amount to have their transactions included in the blockchain as soon as possible. The revenue for processing transactions jumped in November from 4% to 17% of the block mining fee.


StormGain Analytical Group (https://stormgain.com/)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on November 13, 2023, 12:05:02 PM
Ripple challenges BNB for fourth place

In 2023, Ripple's capitalisation more than doubled to $37.2 billion. The SEC's weakening stance, which began its attacks on altcoins with XRP, and the company's new high-profile projects helped make this possible.

(https://steemitimages.com/p/32FTXiZsHoAW6noHJDhrg3W8ZKHVFSsLYM859aTDCF8iErZjMSgVmZkjxamaapFW7RfHcHqD44FiuhbweHGjRSr5enNkTbgGLXFR3Fbnvyqz4Xhzv4qCG73oQtFRt1B7UTcLgURKmpGRrtgW?format=match&mode=fit&width=640)

The regulator labelled XRP a security back in 2020 when it sued the company for allegedly illegally raising $1.3 billion in investments. The legal battle went on with mixed success until Ripple's lawyers found the regulator's weak spot: a speech by former SEC Director William H. Hinman, in which he referred to Bitcoin, Ethereum and XRP as commodities.

(https://steemitimages.com/p/32FTXiZsHoAW6noHJDhrg3W8ZKHVFSsLYM859aTDCF8iErPaJzJEQukoUKjhCy1JJm45kdpFQrxrwpSAYYhUeAFN5zeXWWVKNPhAfEC4b4Ca5qvzZi6hhXh8fDeWZWXJCRR4sKLHyji1Ub2E?format=match&mode=fit&width=640)

In 2023, Ripple sought Hinman's reports and a transcript of the speech through the court. The SEC built a defence around this being the "personal opinion" of a man who was "difficult to identify from the video". Investors sensed an imminent victory in May, and XRP skyrocketed 9% in 12 hours.

(https://steemitimages.com/p/32FTXiZsHoAW6noHJDhrg3W8ZKHVFSsLYM859aTDCF8iErY7f5bfUfjNZC1MReqVQVJ7DyBuGWaJ7b1TYtnMFFfin5q6ULgw3RsKeLHitqE4ZFhh5ezRHVoCk3d79LHwA8uSDtSixuuqbJpE?format=match&mode=fit&width=640)

The market reacted even more to a court verdict in July when a judge ruled that selling XRP to retail investors didn't qualify as securities trading. On the same day, some crypto exchanges announced the return of XRP trading pairs, and the coin's price jumped by 70%.

After four years of litigation, the SEC backed down in October, withdrawing its claims that Ripple issued securities directed against CEO Brad Garlinghouse and Executive Chairman Christian Larsen.

A series of SEC court losses, including the high-profile scandal over the refusal to convert Grayscale's trust fund into a Bitcoin ETF, have exposed the regulator's weak position. The chances that the SEC will finally drop its claims against Ripple have increased several-fold this year.

(https://steemitimages.com/p/32FTXiZsHoAW6noHJDhrg3W8ZKHVFSsLYM859aTDCF8iErWUSkXfxQuPvWUXMtjarUU4jh6btoEo9kFYKE2Vf9iBTiUxqwWQeE8Q4BwrWaAK9QjSv9HENk5CncifM1sR9HwULoeM38A1QCyt?format=match&mode=fit&width=640)

Meanwhile, the company's management has wasted no time. HSBC, one of the world's 20 largest banks by capitalisation, recently announced a partnership with Metaco, a subsidiary of Ripple. Metaco will provide a solution for the bank to store tokenised securities.

Ripple also won the competition to become the sole technology partner of the National Bank of Georgia. The company will help the government issue and customise the circulation of the digital lari, the country's central bank digital currency. Montenegro, Palau and Bhutan had previously chosen Ripple for the same purposes.

Ripple's growing adoption significantly increases the chances of its imminent return to the Top 4 cryptocurrencies by market capitalisation. A major surge in investment interest is expected when the SEC withdraws its legal action against the company.


StormGain Analytical Group (https://stormgain.com/)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on November 14, 2023, 10:37:54 AM
BlackRock restores interest in Ethereum

For Ethereum investors, 2023 was a tough year as the SEC boosted efforts to label the cryptocurrency a security. The regulator's efforts led to a host of market participants, including Kraken, ceasing to provide staking services. As a result, the altcoin's value declined by 25% against Bitcoin over the course of the year.

(https://steemitimages.com/p/5ShzsKnKF7vppGeV6VN3m3GSDcLoRruAhMmifZtFSDkYScLyFcAMrEcieECnYVxncy1uLpMxFHpF38pAk6t2Arcj7ndGPKjrGpa2v31yNsN48AKJz6gwsGX4HTwwCHCb6wMJ4uNGKjm4TniT7EG91fc2?format=match&mode=fit&width=640)

In terms of institutional capital inflow into ETFs, it lost to Solana, XRP, Cardano and Litecoin, showing an annual outflow of $125 million.

(https://steemitimages.com/p/5ShzsKnKF7vppGeV6VN3m3GSDcLoRruAhMmifZtFSDkYScUZ96jw8zLEh8chU3atwFZdLuxYjkP8uEzavJgtb7LQNxyKhVTgsUG9wAtF6qDpEe8yUhbhGYNTYr6QBoraeaMQArNNMKwtgNnBQtghBwYS?format=match&mode=fit&width=640)

Even the staking boom ended as the 4% yield couldn't cover losses from Ethereum's weak growth. As such, by October, the long queue of people wanting to become validators had already shrunk so much that the waiting time was reduced from forty days to less than one day.

(https://steemitimages.com/p/5ShzsKnKF7vppGeV6VN3m3GSDcLoRruAhMmifZtFSDkYScKTRggpAA87fEN2gSiDyw9D3ML1KpaEkftV3QEfeuNPKdReQSr8dpbCG1G5fgvJkaL3sLGpUW5XChqMUtmF8UeGdapUWznpEkbVEN3gVmiW?format=match&mode=fit&width=640)

However, the world's largest asset management company, BlackRock, renewed interest in Ethereum by applying through Nasdaq for a spot ETF on 9 November. The price skyrocketed by 8% to $2,050 on the same day.

(https://steemitimages.com/p/5ShzsKnKF7vppGeV6VN3m3GSDcLoRruAhMmifZtFSDkYSczfLPM85aBgyyRwxYcyaPWesyNACrnAvKLZRVWdn9AphHfuH4YaqsX2yGVP6u8eV27ohtafcprptYT4aLtLmQmbRU7i22vdpHfs7vj4JwoC?format=match&mode=fit&width=640)

Some analysts believe that an investment giant applying for an altcoin ETF signals the inevitable adoption of spot Bitcoin ETFs. This will be a huge step for the crypto industry towards institutionalisation.

On 10 November, Coinshares' Head of Research, James Butterfill, reported that annual institutional capital inflows into Bitcoin reached $1 billion last week, with $424 million of that invested over the past 30 days. For Ethereum, the outflow of funds turned into an inflow.

(https://steemitimages.com/p/5ShzsKnKF7vppGeV6VN3m3GSDcLoRruAhMmifZtFSDkYScWVK2MoccATo489bsJdbFkKYXEaWTT1X8Mzut4F1xRiejKkuGhjEwS1HqnG1gXZVUgTnvSRL5CEotQvrB3EDakFVzuFbWDXFobhpRqoHiN2?format=match&mode=fit&width=640)

Due to the jump in interest in Ethereum, the average fee shot to $11 on 9 November, even though it didn't exceed $2 a month ago.

(https://steemitimages.com/p/5ShzsKnKF7vppGeV6VN3m3GSDcLoRruAhMmifZtFSDkYScYHMj3G6yU8zBWh9iQ8zAvkdBCopX7L8eR7YUoqrsyXB3UkqtUK772Uq43ViBuV6UYTqBSKwzLwxGLRVF7VVhtB5CfmQdxpBbnzjqLCY3fU?format=match&mode=fit&width=640)

BlackRock's interest in Ethereum gives hope that the altcoin's positions will be restored. Coupled with increased profitability due to higher fees, it'll attract new investors.


StormGain Analytical Group (https://stormgain.com/)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on November 15, 2023, 10:39:26 AM
Why Bitcoin will surpass $100,000 per coin in the next 18 months

The speed at which hodlers are accumulating Bitcoin is already 2.2 times faster than the speed at which new coins are being issued. Furthermore, the volume of the 'hot' supply that can be released by short-term holders (STH) is shrinking at a rapid pace. This reduces the amount of available coins to an all-time low. The trend will strengthen significantly following the approval of spot ETFs in the US and the halving event in 2024.

Since mid-2022, miners have been selling nearly all mined coins since mid-2022. At the moment, their pressure on the market is estimated to be $1 billion, and after the halving event, it will decrease to $0.5 billion per month, according to the Glassnode analytical agency.

(https://steemitimages.com/p/gPCasciUWmEwHnsXKML7xF4NE4zxEVyvENsPKp9LmDaFuyhtS4zjksqXqRM9XSKovbmLKnA9kVyiLHr1ocA3FfvQuWtk83opHyYwvDiBkeACYDbUqvptbRMFLCcjjuDSenxBrnFXMeoyEPVxDL?format=match&mode=fit&width=640)

As for the liquid and highly liquid supply (hot wallets, crypto exchange accounts, short-term holders' addresses), they have been actively reduced since March 2020. This is due to the flow of coins to long-term holders who have not parted with their coins for more than six months, and 57.1% of coins from the circulating supply remain haven't moved at all for more than two years.

(https://steemitimages.com/p/gPCasciUWmEwHnsXKML7xF4NE4zxEVyvENsPKp9LmDaFuyQt41yRSUsnyvGzk9Pfi7NDhS8bpB8tp4x622mw62X62d6M4cxH3PmQeQ1NB3KWE4VimVA6V5WcUQfVHDgeGR2whibxw8N8degAge?format=match&mode=fit&width=640)

Currently, STH and crypto exchanges account for 2.3 million BTC, which collectively accounts for a modest 23.8% of the circulating supply. When coupled with the growing volume of coins with no movement, this leads to a historically low level of available supply.

(https://steemitimages.com/p/gPCasciUWmEwHnsXKML7xF4NE4zxEVyvENsPKp9LmDaFuyi8byj7JBS8GdJfToAixuqAzbUsWxsgJfLooBJv4CuJRFahBNUTCKwduqHpaxiYaymVdshXLULgLjabVrezD2csmMHbqUXeWhnza2?format=match&mode=fit&width=640)

These conditions are a good Bitcoin growth booster.

(https://steemitimages.com/p/gPCasciUWmEwHnsXKML7xF4NE4zxEVyvENsPKp9LmDaFv4aEyoq5Csxr7HNYsB2wsMhWzB7sLSzkRi2gGnsEt8Z9rgck3XbUmRGDbLTzrRDjBuDrby5iJi2B8uzyPF18ifr7EJVjdxwL4umZ1g?format=match&mode=fit&width=640)

But there's a supply shock waiting ahead due to the emergence of spot ETFs in the US and the Bitcoin halving event expected to take place in April 2024. To have a rough idea of ETF's impact, one can look at the accumulation volumes by the GBTC trust fund and Coinbase's storage service for institutional investors (both options have downsides against the expected ETFs). These decisions and the reduction of the Fed's key rate to zero were the main drivers behind Bitcoin's price growth in 2020-2021.

(https://steemitimages.com/p/gPCasciUWmEwHnsXKML7xF4NE4zxEVyvENsPKp9LmDaFv4GXLkixseBdTPM46nZSuQynJ6tZaMt1fj5nAGNGzSdwWQSwnxxyBvo4Sfg4Gu4jVAyffrkNoUNWPQBhEtwG3pvwVeq5Rscm91i26z?format=match&mode=fit&width=640)

The inflow of institutional capital will coincide with the decline of new coins from 81,000 to 40,500 per quarter. If we just look at the halving by itself, such events have historically led to Bitcoin's price rising 460%-7745% in the first 12 months after the halving.

(https://steemitimages.com/p/gPCasciUWmEwHnsXKML7xF4NE4zxEVyvENsPKp9LmDaFv16bFcMaQKz7e9cAEnZ7SEhZks88kXCjHwgpbFYpCQS1YqCQDk6qZLjKEeWTwE3UQ38xMZDRenqBEknYXAmB98AiSVbgCkNjKPQTLz?format=match&mode=fit&width=640)

The overlapping of two such powerful factors and the high accumulation mood shown by most market participants can take Bitcoin past the $100,000 threshold in the next 18 months.

The Federal Reserve may be the fuel to the fire if it tightens its monetary policy, which would cause a recession and a decline of capital inflow into risky assets. However, the majority of economists agree that the regulator will loosen its grip in the near future.


StormGain Analytical Group (https://stormgain.com/)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on November 17, 2023, 09:58:15 AM
Altcoin season is underway

More positive sentiment in the crypto industry and the rise of Bitcoin tend to be signs that a good time for altcoins is near. In 2023, Bitcoin's price increased 2.3-fold, which was facilitated by talk about the imminent appearance of spot ETFs in the United States and several high-profile defeats in court for the SEC.

(https://steemitimages.com/p/5ShzsKnKF7vppGeV6VN3m3GSDcLoRruAhMmifZtFSDkYScSWBaXXZMXyRrrJKXU157ByX57yummqNfJswshj8VSg8qXLmYRxYr1eJy7qJXyo86cBYSST8bysvFFPY9qCmLxVCpXnLTKxWhLotLwEZpTQ?format=match&mode=fit&width=640)

Crypto investors are to track the beginning of the altcoin season since the profitability of low-cap coins often compensates for the higher risks (especially when forming an investment portfolio). One sign of the transition period is increased volume in altcoin trading, which currently accounts for 60% of total trading volume.

(https://steemitimages.com/p/5ShzsKnKF7vppGeV6VN3m3GSDcLoRruAhMmifZtFSDkYScFgk16wuewXQVZz8uN6EahuUYGBtmAoXVuUjg59f1E2fESffVciUETBz3UzHbU9DTbnE64WJadHkSA9MWqEq1fmHCYwQyLs6oQc1Uq4N2Y6?format=match&mode=fit&width=640)

Among altcoins, Solana inspires the most interest among investors. We previously discussed why that is. On American crypto exchanges, Solana is confidently leading the way, nearly reaching a trading volume of $15 billion in the spot market in 2023. However, it's still outperformed by Ethereum on international platforms.

(https://steemitimages.com/p/5ShzsKnKF7vppGeV6VN3m3GSDcLoRruAhMmifZtFSDkYScP5bR2ycu9uBA6s7N2ivRLXuyjpnEzt8LA33XMJRi3yfdchH1PWuXJjanK9xgT6PQuPAsp42hpkoZD8hKQyYZv1M3izFyw2zPrS5EhdeMwL?format=match&mode=fit&width=640)

In November, after a year of next to nothing, interest in this coin sharply increased after the investment giant BlackRock filed an application for a spot Ethereum ETF. As a result, the funding rate increased sharply. Note: A high funding rate indicates the dominance of bullish positions in the perpetual futures market.

(https://steemitimages.com/p/5ShzsKnKF7vppGeV6VN3m3GSDcLoRruAhMmifZtFSDkYScSxGsBPZchzF9gsbRrfEyyCdNbE6MNCHXmQjsdoJuK4yzKTSCZT6p1DJTBoLYjh2WqoAoJsxHMHYaXxDY38bBYUimjV8mWruGajgU78Bi3p?format=match&mode=fit&width=640)

The growing interest in altcoins led to Bitcoin's share decreasing from 54% to 52% in November. However, the trend may reverse if the positive factors don't come to be or don't have the expected impact. Analysts at JPMorgan recently published a sceptical report in which they crushed investors' hopes:

The emergence of spot ETFs will only lead to the flow of capital into them from current investment products (for example, Grayscale Bitcoin Trust) but will not create new demand.
Court losses for the SEC will not lead to a more pro-crypto regulatory environment. As the regulatory framework develops, the approach to crypto will only become stricter.
The effects of halving events are unpredictable, and the reduction in rewards is already priced in.


StormGain Analytical Group (https://stormgain.com/)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on November 20, 2023, 02:35:43 PM
Ordinals storm Polygon: 16 million transactions in 24 hours

The Ordinals protocol was initially developed for Bitcoin users to exchange digital objects within the network. The first wave of hype was around the minting of graphic objects that were later overtaken by BRC-20 quasi-tokens, which are inter-exchangeable coins like Shiba Inu in the Ethereum network.

(https://steemitimages.com/p/5ShzsKnKF7vppGeV6VN3m3GSDcLoRruAhMmifZtFSDkYScWiYPbHcJujvPm17dPTXDv1c7uMBCNyS9z2VUgPfbqhN3ncZ3rcxDKXkY684fvZkyVtA4t8anL6bv1f7qp9kc27t5XZHqiUjnP6M88Ap68N?format=match&mode=fit&width=640)

Speculative interest was so strong that the load on the network led to a five-fold increase in the average fee, and miners set a new annual profitability record.

(https://steemitimages.com/p/5ShzsKnKF7vppGeV6VN3m3GSDcLoRruAhMmifZtFSDkYScWnmA44PC7NaBqxgAKknFn5aDbzprZp4QzParcbvqpu84TCQqVAt61UUtUfa1oUjek4SpRy1iQnF3zKjkWrHPDtU91Lgcnpt2P9R1pxgdeE?format=match&mode=fit&width=640)

Bitcoin is a low-bandwidth network, so a massive exchange of quasi-tokens resulted in negative consequences. For quicker networks, Ordinals present a stress test. On 16 November, the number of transactions on the Polygon network brought on by minting and exchanging PRC-20 tokens jumped from an average of 2.3 million to 16.4 million, setting a new record.

(https://steemitimages.com/p/5ShzsKnKF7vppGeV6VN3m3GSDcLoRruAhMmifZtFSDkYScy66RocUjncUpY3M7sryZYUcKAUoWUAABgrpmJ4vxNuSTdakbVo5Qb2LAGmKxfEhyDz4RuTiFuJE5zxbx5RZzxdSLxKxjLK931sQMUCBmev?format=match&mode=fit&width=640)

Kudos to the network, as all transactions were processed error- and failure-free. But the fee at peak times increased more than a hundred-fold from a minimum of 30 gwei to 5,000 gwei.

(https://steemitimages.com/p/5ShzsKnKF7vppGeV6VN3m3GSDcLoRruAhMmifZtFSDkYScSuEcC6wEgy9VaVc4LiqPeoM8eTtnjMhvuYCGqLEYCUHShdS74MP9wwt5eKeaeUog6w9QFYAeusgJ9KRWxkQDanMNHQ2vnQ8JdPBBvov18A?format=match&mode=fit&width=640)

The hype supports validators. Users spent $90 million per day to process transactions with PRC-20.

(https://steemitimages.com/p/5ShzsKnKF7vppGeV6VN3m3GSDcLoRruAhMmifZtFSDkYScYZ2VZcgFUnTWFosodHRLevvN3nTAb7T5L5ddZf4z78FMChnsvUpmb7ofcBi71uJQ3QLr3P2WYp2jW4ZzLUvDE9pv4BULvuPLhNyoUyGCai?format=match&mode=fit&width=640)

For ordinary users, such experiments result in higher costs and the risk of delayed transfers. As for the MATIC coin, PRC-20 minting didn't affect it in any way.

(https://steemitimages.com/p/5ShzsKnKF7vppGeV6VN3m3GSDcLoRruAhMmifZtFSDkYScM5EBALUuxmQ6njQHmsNLEqW6dnQNCYY9juzTUWm4TsuB9h7WkiQzFB33DLnrSdtSWbmpkW7AoSgZmHKtDp4ufcAoAAfnPxMZs5ZGCWAbbL?format=match&mode=fit&width=640)

Ordinals continue to travel through networks, increasing the load on them and their commissions. The creator of the Ordinals protocol, Casey Rodarmore, previously admitted his frustration publicly, calling 99.9% of quasi-tokens spam.


StormGain Analytical Group (https://stormgain.com/)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on November 21, 2023, 12:39:53 PM
Investor demand for Solana sets new records

Interest in Solana has reached historic levels, surpassing the September 2021 record of 4.3%. Solana now accounts for 5.5% of total crypto turnover, which translates to $23.8bn each month.

(https://steemitimages.com/p/32FTXiZsHoAW6noHJDhrg3W8ZKHVFSsLYM859aTDCF8iErPYYYbbtdUUPZidyb74Y7R1AbQdkhZXB9hnoMMHfFdLPHCoqGy5Y4tZqcKtJXr99UNSq4fepBTntrkkTRTQrQdyyDL4Hxymoqup?format=match&mode=fit&width=640)

There is increased interest from both traders and institutional investors. Over the last 12 months, institutional investors have poured $121 million into the coin. Solana has overtaken all altcoins combined both in terms of volumes and the annualised rate of capital inflows into exchange-traded funds.

(https://steemitimages.com/p/32FTXiZsHoAW6noHJDhrg3W8ZKHVFSsLYM859aTDCF8iErL5EiPa9RFLSZake83AKTZVTcKPHdM7nAGTyc3EfpNxQ4sMiAmgRcUJ8uHE66FUBkDT3ofsVw6UnwNoDWHDvmREhLpQXFwQCj5p?format=match&mode=fit&width=640)

Traders set an all-time record for the volume of open interest on the derivatives market – hitting $834m on 16 November. The previous record stood at $811, recorded in October 2021.

(https://steemitimages.com/p/32FTXiZsHoAW6noHJDhrg3W8ZKHVFSsLYM859aTDCF8iErFtYk7EVyPpHgUXrbW81RdGnNR6GmbwQ6Qp39SeeQ3j5hxGvM7nC3Hw2WhNh8CsDPXdwYS7aoKbZLfthxLXDbMYxAsF3NMLCRV8?format=match&mode=fit&width=640)

Off the back of such strong investment demand, Solana has grown six-fold to $60 in 2023.

(https://steemitimages.com/p/32FTXiZsHoAW6noHJDhrg3W8ZKHVFSsLYM859aTDCF8iErVSUHhedc6PELfBFzCqMku67ztpJi3DWiuqHWu9FcAHq8z8tbmtkTXFiCiBCCnTjmzH8K4WqVZPJv331xYFuKNTYWbZqCVeWYNr?format=match&mode=fit&width=640)

The influx of capital is being driven by significant progress in the promotion of the blockchain: the Solana Pay payment gateway was added to Shopify's e-commerce platform, and VISA is pioneering the network as an interbank exchange tool. In both cases, we are talking about transactions being carried out in USD Coin (USDC). The list of supported coins may be expanded at a later date.

The fact that such large players have chosen Solana is explained by a high degree of decentralisation coupled with ultra-low commissions (less than $0.01) and high transaction completion speeds (up to 2 seconds).

(https://steemitimages.com/p/32FTXiZsHoAW6noHJDhrg3W8ZKHVFSsLYM859aTDCF8iErZiaczRzRw7iWTWTCqLr9TqkQkWnxsWdfAFdnMELqaX5Hfoe7f1avmfRnS8FebskJLTiaFBNM33wDkpiFhUXRhGKmDG5mVSZhSE?format=match&mode=fit&width=640)

According to Solana co-founder Anatoly Yakovenko, the real "curse" for the network was the number of frequent failures it experienced, which often resulted in a complete loss of functionality. However, Solana has been running smoothly since March, and a future update to the Solana blockchain's validator, Firedancer, will probably solve this problem completely.

Investment firm VanEck optimistically estimates that Solana will hit $3,211 by 2030. The baseline scenario assumes growth to $335.


StormGain Analytical Group (https://stormgain.com/)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on November 22, 2023, 08:03:36 AM
Buy the rumour: BNB price soars on back of insider info about pre-trial settlement

The largest crypto exchange has really struggled in 2023. In February, under pressure from the New York State Department of Financial Services, stablecoin issuer Paxos refused to mint BUSD for Binance. While in June, more than ten top managers quit the company after the SEC filed a lawsuit against the company.

Since June, the following staff have left Binance:

- Senior Director of Investigations Matthew Price
- Global Vice President of Marketing & Communications Steve Milton
- General Counsel Han Ng
- Chief Strategy Officer Patrick Hillmann
- Senior Vice President Stephen Christie
- Head of the Asia-Pacific Region Leon Fung
- Head of Product Mayur Kamat
- Vice President for Eastern Europe, Turkey, CIS, Australia and New Zealand Gleb Kostarev
- Executive Vice President Helen Hai
- US division CEO Brian Schroeder
- Vladimir Smerkis, Director for the CIS
- Jonathan Farnell, Head of Binance UK

At the same time, journalists were preparing the public for the imminent filing of criminal charges against the management and company CEO Changpeng Zhao (CZ) brought directly by the US Department of Justice for money laundering, financial fraud, helping to circumvent sanctions on Iran and Russia, and aiding and abetting the financing of terrorist organisations.

Regulatory pressure, an exodus of senior executives, and a negative news backdrop have dealt a severe blow to the market position of both the US and global divisions. In the spot market, the former's market share fell over the year from 8% to less than 1% and the latter's from 55% to 34%, respectively.

(https://steemitimages.com/p/gPCasciUWmEwHnsXKML7xF4NE4zxEVyvENsPKp9LmDaFuyve8dc18XwFQH9A2PkwbEjQztGubt4V6ZzSvGe26LyavgF4RKPKHdMtjJ2RU335RvDgPp5rEaqYr2ezhx5sTbWWW1KGCqsRHnwS3p?format=match&mode=fit&width=640)

However, yesterday Bloomberg published information from an anonymous insider claiming that a tentative agreement on a pre-trial settlement has been reached between the Department of Justice and Binance. As part of the settlement, the crypto exchange will agree to pay a record $4bn fine and comply with a number of regulatory conditions. An official statement to this effect could well be issued by the end of November.

Following this news, the BNB crypto exchange coin was up 6% to $260.

(https://steemitimages.com/p/gPCasciUWmEwHnsXKML7xF4NE4zxEVyvENsPKp9LmDaFuyQMaAdbXrsUDtWD878eAkUGeXkHXyYxyY6c737ScEsQ2M2i6ehtEMfdnAbEdV8hxQw1jWLnSdzXZBCz7Ci4cW8tcvfhn1xH4Ugfbt?format=match&mode=fit&width=640)

Despite its declining market share, Binance remains a major player on the global stage. Therefore, reaching an agreement regulators will provide significant support to the crypto market (and BNB in particular) as it will offset the risk of significant turbulence caused by a drawn-out criminal case.


StormGain Analytical Group (https://stormgain.com/)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on November 23, 2023, 02:29:56 PM
83.6% of Bitcoin in circulation delivers unrealised profit

Currently, 16.4 out of a total 19.5 million Bitcoin in circulation are trading above their "starting" price. In other words, 83.6% of Bitcoin in circulation represent unrealised profits for their holders. The last time this level was reached was during the 2021 bull market.

(https://steemitimages.com/p/21PRtjKRXPQybj4WUXScWv5QPLninWRxfbcWNsx7SenD7FwNBh7JrZCD921XNs3ZSwbsNYWxTPEaJpwMaBcq1rnxBxKgx6WB4mWPXZTkinSw8KAPZ61HMPqwUsAhYXPbrhorYgJwUfMQZkDwUQQVHAn?format=match&mode=fit&width=640)

The market has already gone through a bearish phase, where less than 58% of the coins issued were profitable (minus one standard deviation), and is now in a recovery phase that will continue from 58% until 90% of coins are profitable. Between 90% and the setting of a new all-time high (+1 std), a phase of euphoria will take place.

(https://steemitimages.com/p/21PRtjKRXPQybj4WUXScWv5QPLninWRxfbcWNsx7SenD7FxeepoLuMMGmXc62CvbnytQzmPqtgqspxvAHSWBydsstSgemqH9NWdxZ2WFmSXVyVGQY1niWSG9zsnuC5V5xXA4UkqcJs4GJ5CrS5RRSVC?format=match&mode=fit&width=640)

The strength of the current trend is well conveyed by accumulation sentiment, which remains at a maximum across all investors from shrimp (<1 BTC) to whales (≥1000 BTC). This is due to market participants' expectation of a full-fledged rally on the back of the approval of spot ETFs in the US.

(https://steemitimages.com/p/21PRtjKRXPQybj4WUXScWv5QPLninWRxfbcWNsx7SenD7FpW9VVxKCF3FWANMHJGMnakHwBvXykQMbterhRoJFyr96GHt3eMqVnDhtBrDWzkoCACjyftw378bAgjag15zgAJbQeFwG61oLFYsqi2Mbk?format=match&mode=fit&width=640)

It is also noteworthy that the volume of coins in the hands of short-term holders (STH) hit an absolute low of 2.3 million BTC. This indicates market participant's strengthening faith in a period of protracted growth, many of whom have stopped spending their coins and have therefore moved into the long-term holders (LTH) category of investors. The volume of coins in LTH hands hit an all-time high of 14.9 million BTC.

(https://steemitimages.com/p/21PRtjKRXPQybj4WUXScWv5QPLninWRxfbcWNsx7SenD7FxHCA4j9dBWuvJmAP7escdVmsYeGjsiy4WTufyARK94GbjHYpAm2y18Nidf28PtGqjCvL2NmVAPt9K9hFkgKmqSeCbw6F2UbpihhABA3eN?format=match&mode=fit&width=640)

Despite the BTC price more than doubling in 2023, the number of people willing to part with their coins is vanishingly small.

(https://steemitimages.com/p/21PRtjKRXPQybj4WUXScWv5QPLninWRxfbcWNsx7SenD7Fxf8vTH9VciepTfEmrxv5mGhATBaq7oPo781DDjJJCWcHSqinZ7fdt5iwdSRWJA9DdNWsoHcTW6v1VzW1ap7QPxWBV5NBPwrbTpvhYuwm8?format=match&mode=fit&width=640)

If the expectations prove correct, this trend will be met by significant demand from institutional investors, and, come April, a reduction in the per-block mining reward.

(https://steemitimages.com/p/21PRtjKRXPQybj4WUXScWv5QPLninWRxfbcWNsx7SenD7FrjNgpaCW53iMeFxfaP9sfvaKokMHabWQmQPXefmGSjVisXYqoU1xJcErxb5HixcuTokYiqdRJNaAjAbnoQzGa3rVhRnvP4TGqrtsuFtwG?format=match&mode=fit&width=640)

Over the past 12 months, capital inflows into exchange-traded funds (ETFs) from institutional investors have already reached $1.2bn, half of which came in the past four weeks. If the ETF is approved, most analysts expect a hundred-fold increase in the indicator.


StormGain Analytical Group (https://stormgain.com/)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on November 24, 2023, 06:06:54 PM
Exodus of funds from Binance after deal with US government

Binance CEO Changpeng Zhao's guilty plea to violating US laws and striking a pre-trial settlement, which includes an industry-record $4bn fine, led to widely-anticipated turmoil in the markets. In the 24 hours that followed, nearly $200 million worth of long positions across all crypto instruments were liquidated, with BNB buyers accounting for $4.4 million of this total.

(https://steemitimages.com/p/21PRtjKRXPQybj4WUXScWv5QPLninWRxfbcWNsx7SenD7FrJZz3CbAEs5kr1CRSNJM4eEL9gcgmF7xqYpicCe7cXE2oSekYqhkSFJajW6jYxo4nKNDXHEVbHLHeyH7K2ewsMNHBA7Vu4P1mrW2xiM74?format=match&mode=fit&width=640)

The flames were fanned by tongues wagging, proclaiming the imminent demise of Binance in the wake of an exorbitant fine. The negative backdrop caused BTC to fall by 6% in the first couple of hours and drove BNB down by 12% – to $235.

(https://steemitimages.com/p/21PRtjKRXPQybj4WUXScWv5QPLninWRxfbcWNsx7SenD7FpzjbMM1q2MBhb5sqo5rM4roKfGrsV3hVp7Lh9a3EPF47UiKeVkSgEvJYTmH3oTwS8WmWYRBcAa3FYJ4yhqRGLiu9sjbXACFukVSGTEmz6?format=match&mode=fit&width=640)

They based their argument on the significant net outflow of funds from the crypto exchange, which according to various estimates ranged from $700 million to $1.7 billion in just 24-hours. The large difference between the estimates lies in the difficulty of identifying all the wallets associated with Binance and also the different calculation methodologies employed.

The largest negative result was found by Nansen, who calculated the $1.7bn figure on 21 November. However, this large figure is due to the overlapping of both asset outflows and the fall in the value of reserves due to the general correction on the crypto market. As a result, the reserve had grown by $1.3bn the very next day. In other words, the direct outflow of assets was much more modest.

(https://steemitimages.com/p/21PRtjKRXPQybj4WUXScWv5QPLninWRxfbcWNsx7SenD7FwogcoUGU2fCLZfJGvtt9stD9kh2Redwox3aWxjhnUZdqzEgQ6YgCKQyCjscsDjsvygsT1JM3qPzqQyoLMQEPFRhGkSYDu9KDXWAnCVQAr?format=match&mode=fit&width=640)

A clearer picture is provided by the DeFiLlama service, according to which Binance's reserves decreased by $1.5bn over two days, while the outflow for the same period amounted to $710m.

(https://steemitimages.com/p/21PRtjKRXPQybj4WUXScWv5QPLninWRxfbcWNsx7SenD7FpW3fsFi9boa2uagKJin2xBFgFa4jYSFuNLXuRmXBpy8gjZXLpPVvvE6C7KNzvaCd78bMW3gEPFvAhs9VeQo7pmcjgEYb43iW6eMkXHDkz?format=match&mode=fit&width=640)

However, the current rate of outflows is unremarkable from a historical standpoint. In June, after the SEC filed a lawsuit, it exceeded $1 billion within a single day, and in January, amid the scandal around the BUSD stablecoin, it hit a record high for the year – $4.3 billion.

All this shows that talk of a mass exodus of customer funds is simply invalid; the crypto exchange is only facing localised difficulties, as is the case in the USA or Australia.

If we talk about objective indicators of the stability of reserves and the degree of customer confidence, we have previously cited the research by analytics agency Glassnode as an example.

(https://steemitimages.com/p/21PRtjKRXPQybj4WUXScWv5QPLninWRxfbcWNsx7SenD7FoLFpWFEfx7wacQjrbhUJ1xn8rXBfofrKLAFqTqzJoxWo3jf76CzQGgxjzFsk3uM1guWSdHUMhyGaH3K74D7Cxud4PnjG235gbeoZxBfgz?format=match&mode=fit&width=640)

Binance has demonstrated a high degree of reliability, second only to Coinbase by some metrics, and surpassing it in others.


StormGain Analytical Group (https://stormgain.com/)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on November 27, 2023, 05:51:44 PM
Censorship on the Bitcoin network

Bitcoin offers the highest degree of decentralisation and is considered to be free from censorship. However, a developer under the pseudonym 0xb10c discovered evidence of the censorship of sanctioned transactions by a leading mining pool.

In their research, the developer looks at blocks mined by the ViaBTC, Foundry USA, and F2Pool pools. All of them excluded transactions with addresses on the US Treasury Department's Office of Foreign Assets Control (OFAC) sanctions list.

(https://steemitimages.com/p/2VZXybTSZJq1AreaDn1D7Jp7ZEvgLC9TvJctofX1ChMgSZrzk9ayfr47S4dwpJL8DfM5N6HJj5tfuxv8JWdjL17ciCCHmZg1WtUqoqU8UVM9HF6w15MQFSTNU5C8P3jT7wty79Xu53JNDRg4XaHF5WuG5En?format=match&mode=fit&width=640)

As 0xb10c investigated, they discovered that ViaBTC and Foundry USA pools excluded transactions for objective reasons. Moreover, both pools later processed transfers with the same sanctioned addresses.

However, regarding F2Pool, the researcher came to an unambiguous conclusion about the presence of a filtering mechanism. Particularly surprising to them was the fact that the pool most loyal to US oversight bodies was one registered in Asia, not the US. On an annualised basis, F2Pool accounts for 13.7% of the total Bitcoin mined.

(https://steemitimages.com/p/2VZXybTSZJq1AreaDn1D7Jp7ZEvgLC9TvJctofX1ChMgSZq4BydtnoNCkiYsGbZDHQw2e75gvCDwxhvb7DH33fEw6BFJD9CExc3RzWJsideguXZom6S1fTyxX1RU78bm4yoBji1KzwiswkjbVKtTzWmGQte?format=match&mode=fit&width=640)

It's worth explaining here that miners tend to unite because, when efforts are consolidated, the profitability for each participant increases. Therefore, most independent miners prefer to cooperate by forming pools. However, in the case of such enabled filtering, the miners simply skip the transaction, without even being aware of the filters and irrespective of the degree of remuneration.

This explains the wave of discontent from the community, which has criticised the management of F2Pool.

(https://steemitimages.com/p/2VZXybTSZJq1AreaDn1D7Jp7ZEvgLC9TvJctofX1ChMgSZnbaMnKC14SCE6whYKE9rRZnfSqoREJeJKh6CfhmazQmcHRaCicRWuB2ve3K5Eogko3Ku16xnk7Eb3f6Frhh6Xfz1gHdR42Z3x9hR8UCyQAHJv?format=match&mode=fit&width=640)

Any manifestations of censorship are, first of all, a blow to the ideology of Bitcoin, which was created for freedom from the dictates of individual institutions of power.

(https://steemitimages.com/p/2VZXybTSZJq1AreaDn1D7Jp7ZEvgLC9TvJctofX1ChMgSZmsurzvnw5EdF8pEvraRE23aK2fEyHZWiMqNwacWZ8N4KpcnT2JzSXoaiS4c2WyzHx8jyy9LNUHQUgUzQ3N5hmA4r4rVNRsF98VqBWmvQYLwhx?format=match&mode=fit&width=640)

F2Pool co-founder Chun Wang responded to the investigation and wave of outrage by posting the following tweet, which he swiftly deleted:

"Why do you feel surprised when I refuse to confirm transactions for those criminals, dictators and terrorists? I have every right not to confirm any transactions from Vladimir Putin and Xi Jinping, don't I?"

(https://steemitimages.com/p/2VZXybTSZJq1AreaDn1D7Jp7ZEvgLC9TvJctofX1ChMgSZwuggU5Qj2tfxBNmVejQLVgMGSxkFVd7mgJQ4VvWkSnhqnGfudiTYrPh2yDYjpS5q7nMHGwAoK6c1sRqEiu4UDz4gJQtYDoZ45nBH7cSvDGrsx?format=match&mode=fit&width=640)

This only poured fuel on the fire. Amid widespread criticism, he backtracked, penning a new tweet about temporarily shutting down the filtering. That post was also deleted.

Users decided to remind Wang of the basic principles of BTC that make the coin so unique and sought after:

- The issuance is limited to 21 million coins, and the asset must not depreciate due to inflation.
- There should be no censorship. No one should interfere with the confirmation or execution of transactions.
- The code is open-source.
- There should be no restrictions on network usage.
- There should be no authorisations or requirements to share personal data.
- All coins are interchangeable and equal.
- Transactions are irreversible once they have been recorded in the ledger.


StormGain Analytical Group (https://stormgain.com/)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on November 28, 2023, 10:51:45 AM
JPMorgan: BNB to win in the long term

Binance's share of the spot market in 2023 has fallen from 57% in February to 32% in November. The US division, which at its peak had an 8% share of the regional market, must cease to exist under an agreement with the US Department of Justice. An independent overseer will stay at the global headquarters for three years to assess compliance with US and international laws.

(https://steemitimages.com/p/21PRtjKRXPQybj4WUXScWv5QPLninWRxfbcWNsx7SenD7Fp7eKGgw9svT5i5zG4ttMNFMtAQZT7xjwrpzJGvjVgdQnaTP7DES6yRA5PA84Dka3QB4d17q5Q5vgkCSnHDTAza7sxM4RTWX9ykYucGc6J?format=match&mode=fit&width=640)

The company must also pay an industry-record fine of $4.3 billion. This amount may increase, as the agreement with the Department of Justice was concluded without the SEC's participation. The regulator has issues with the crypto exchange because it deals with securities without having the appropriate licence. The SEC considers BNB to be a security, and court proceedings are still ahead.

The decline in market share, ongoing legal woes and loss of US market share have consequently affected the value of the cryptocurrency exchange's coin. BNB's price lost 6% in 2023 amid Bitcoin's doubling in value.

(https://steemitimages.com/p/21PRtjKRXPQybj4WUXScWv5QPLninWRxfbcWNsx7SenD7FqQQoY5w3sukALPvPWjrQedCAd1TLLbbbNHt5UyXWxNFX62Q3ncHrVZEdPzgNbV7wLEHZKvEKHcsEQF85g7B6fCDvCYApCmBenPe8eaqoc?format=match&mode=fit&width=640)

However, the confrontation between Binance and the US government has had two positive outcomes. First, there is no longer a risk of the crypto exchange going bankrupt and repeating what happened to FTX. The fine amount is sizeable but not a critical blow for the largest player in the cryptocurrency market. At the same time, the crypto exchange won't face charges that could damage its business.

As JPMorgan analysts wrote in a note to investors, "Binance's market share loss will be more moderate in the future and will probably reverse once the effects of the agreement are resolved".

Traders are already opening predominantly bullish positions in the derivatives market, causing the funding rate to rise and open interest to reach three-month highs.

(https://steemitimages.com/p/21PRtjKRXPQybj4WUXScWv5QPLninWRxfbcWNsx7SenD7FsaFHwiwRFU6aLy81WtgAfKH47nN8fYmgZW84aCrUuZBGcn4zarcFCuGbmQwBpSL6cVyPfmtvD34K7oXpH54ThoAQ2mq35LK76qxhrL4UN?format=match&mode=fit&width=640)

Secondly, the departure of the crypto exchange that irritated American regulators so much opens the way for the approval of spot ETFs. The inflow of American investments will be directed toward more 'law-abiding' companies. However, legal action against Coinbase is still ongoing, and the SEC again has claims against Kraken, despite reaching a pre-trial agreement in February and the exchange paying a $30 million fine.

According to the Glassnode analytical agency, the emergence of spot Bitcoin ETFs will attract $60.6 billion from stock and bond ETFs and $9.9 billion from the gold market. The number of investors who consider Bitcoin to be 'digital gold' increases every year, and the current correlation between financial instruments is 0.65.

(https://steemitimages.com/p/21PRtjKRXPQybj4WUXScWv5QPLninWRxfbcWNsx7SenD7FqtW1ujL5DHu4qgXfLM726W2wV5At9XcnaudLrLUKjDyFk2G8JexMJd5qgJHKQDpN1ZEFZB3r19GdSRgTuxJxLQyoqM1B9f6ofbcP1BViW?format=match&mode=fit&width=640)

Riding Bitcoin's coattails, altcoins will also see higher interest. They currently account for 47.4% of the crypto market's total capitalisation.


StormGain Analytical Group (https://stormgain.com/)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on November 29, 2023, 10:16:29 AM
Investments in crypto funds at highest level since 2021

Ahead of the emergence of spot Bitcoin ETFs in the US, institutional investors have doubled down on investments in cryptocurrencies. In the past week alone, they invested $346 million in exchange-traded crypto funds, the largest inflow of funds since late 2021. In total, they've invested $1.7 billion during the year.

(https://steemitimages.com/p/2VZXybTSZJq1AreaDn1D7Jp7ZEvgLC9TvJctofX1ChMgSZmquEeL4nubKFA3cJ3927zoQhzvD3nH7ytn6UP9e422EuccuTSZo4VcJok7Ycp62MJS4rdiLxDZXtfmnN16A73AyJfdckiSgTWTAvEt9NU64Dk?format=match&mode=fit&width=640)

Bitcoin is leading with a wide gap, accounting for $1.6 billion or 93% of the total volume. Solana is second with $138 million in investments during the year. We gave a detailed explanation of the altcoin's popularity here (https://stormgain.com/blog/solana-breaks-records-for-investment-interest).

(https://steemitimages.com/p/2VZXybTSZJq1AreaDn1D7Jp7ZEvgLC9TvJctofX1ChMgSZmv4FcbRXufbrXTCt7oVoaexmozp58CqhYzcUwU2gdF6HpD7GKSmAdUYtgTTTJndtYUoSrQha4dSUjaArYEGUr9WStyx5gA95UvwiRPaFwp6m4?format=match&mode=fit&width=640)

Investors from the United States represented the first wave of demand for cryptocurrencies. They're now joined by investors from Canada and Germany. The total volume of crypto assets under management has reached an 18-month high of $45.4 billion.

(https://steemitimages.com/p/2VZXybTSZJq1AreaDn1D7Jp7ZEvgLC9TvJctofX1ChMgSZwvRFavSmisn5xYtazTqbuc2WxeNGcihDe2nnVewJDK7K9DvhvdxjCwpfNEWu86Dum3EbpJgnYRpaP1NAxhFVQZ2jXngywA8ziQsp6ncChwWdU?format=match&mode=fit&width=640)

The increased attention of institutional investors is also seeing an open interest on the CME, where it grew from $1.3 billion to $4.1 billion over the course of a year. This is close to the high in 2021 when the figure reached $5.5 billion.

(https://steemitimages.com/p/2VZXybTSZJq1AreaDn1D7Jp7ZEvgLC9TvJctofX1ChMgSZyFjaFqdmLefWN1P1ik4RVhgNiRa4ZTmozutLyuKoCMMS6rXx2CZCwKzUTiW8GJefQp6b4jPaArLnDBXK9YPzsdvaRgisRizuJJ7puUYhnG9pz?format=match&mode=fit&width=640)

Investor activity is associated with the potential emergence of spot ETFs in the United States, which will attract a significant amount of investment and cause Bitcoin's price to strengthen.

(https://steemitimages.com/p/2VZXybTSZJq1AreaDn1D7Jp7ZEvgLC9TvJctofX1ChMgSZyyiE8iyz2hHFY3uqrKv4sBFiVmfomTMasSqhadR19tyccf6YBCiGVuLu17GeTqqPwExfDi9wxMsPNSidUzBVbB3vBgYQRRrZt2bGPs5eAbiMU?format=match&mode=fit&width=640)

The chances of ETFs being approved increased after an agreement between Binance and the US Department of Justice since the crypto exchange's exit reduces the risks of capital outflow from the country. The American division's strong dependence on the parent company was one aspect that received much criticism.

Galaxy Research estimates that ETFs will raise $14.4 billion in the first year and $125 billion to $450 billion over the long term.

(https://steemitimages.com/p/2VZXybTSZJq1AreaDn1D7Jp7ZEvgLC9TvJctofX1ChMgSZk2fzRTg9t7ZXxrmgUzV3G3c5rULtzxa9ShLxK4d4CbRZG2rZP2np2k9JWPVTp8QNgVai6nsA6DU4cHoEfadvCdUF8HaaJ49KssidBQTWmSCTp?format=match&mode=fit&width=640)

The flow of investments will lead to the cryptocurrency's price rising by 6.2% in the first month after the ETF's launch and by 74% during the year. If the funds are approved today, Bitcoin could be worth $64,000 by December 2024.


StormGain Analytical Group (https://stormgain.com/)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on November 30, 2023, 09:31:06 AM
Validators are leaving Ethereum

Contrary to developers' expectations, the number of validators in November didn't reach 1 million. Instead, it started to decline. From May to September, the number of departing validators averaged 380 validators per day, but that number was compensated for by an influx of new ones. Since October, however, 1,018 validators per day have been leaving.

(https://steemitimages.com/p/AmRc67RgYaWTCbCd1L4AQP82AFWYYzZC15DpSZWeSYgzVNHZrEbhGApHu3KNhWYKKoeJaTnaP1mM6ycmqF9DGV1CTVBNMDthDM8MjW7wL8zvgbSvTNDM3rLdv9gefLTTFwaYiMhN7NGSCwZYyuKHnjMUSYFPsGTx?format=match&mode=fit&width=640)

Currently, the network has 880,000 active validators, and the waiting time in the connection queue has decreased from 21 days in September to less than one day.

(https://steemitimages.com/p/AmRc67RgYaWTCbCd1L4AQP82AFWYYzZC15DpSZWeSYgzVN5x6JN7VAhikAY72FHUjyCNPbBRQYvN9BuXryPJ5R61mPm5aoQpuLDhVcji3YGSXk3sCj2TZuCD5DSXe32dq7grJ3Lw78KjMBAxX7W8mP2X8xXRpvYN?format=match&mode=fit&width=640)

In November, a decrease in staking pool volume was seen for the first time since the Shanghai hardfork allowed withdrawals from staking.

(https://steemitimages.com/p/AmRc67RgYaWTCbCd1L4AQP82AFWYYzZC15DpSZWeSYgzVNSbgb1pecj9LRdYrJRkPKhTqZPAT6JBqHNJdkkn2jB2s5EgZEbpmn8LKWfJffCbEedAxjvGxhfy6XFsquyD3sM86kXGGtzK9BG3aoPQzF3zRkqMMMR8?format=match&mode=fit&width=640)

American crypto exchanges have been among the top platforms in terms of the outflow of funds in the last two months.

(https://steemitimages.com/p/AmRc67RgYaWTCbCd1L4AQP82AFWYYzZC15DpSZWeSYgzVN65TEd7ymN7Lmgmtv9GnD3An4YogV28yko7AkK8bhviWVttzEKeVjB874HVafk8J49yR1ZAkYF356tRMf8f4osWSk3yQAsi4vzR3eZtHsEmZuMtpeYe?format=match&mode=fit&width=640)

Kraken previously reached a settlement with the SEC, agreeing to pay a $30 million fine and close its staking services to retail investors. The current outflow is either due to qualified investors fleeing (the settlement didn't apply to them) or Kraken's failure to meet its obligations in full, which is the reason for another complaint that the regulator filed in November.

"$30m buys you about 10 months before the SEC comes around to extort you again," Kraken CEO Jesse Powell said in response to the new lawsuit.

Coinbase is second in terms of outflow after it refused to agree to a similar demand by the SEC to close access to staking. This site's massive outflow of investors from Ethereum is probably caused by the low yield of validators at 3.8% APY, which is significantly inferior to low-risk investments in US Treasury bonds. The annual yield on Treasury bonds is currently 5.2%.

The second reason is Ethereum's sluggish growth compared to both Bitcoin and a host of altcoins. Ethereum is 26% behind the leading cryptocurrency, and the ability to make passive income does little to compensate for this gap. Investors' last hopes this year were associated with the launch of an ETF for Ethereum futures in the United States in October, but those hopes didn't pan out.

(https://steemitimages.com/p/AmRc67RgYaWTCbCd1L4AQP82AFWYYzZC15DpSZWeSYgzVNeUAzsfssb25jengRGEUYm2KiBN2WWy59hd9Wv6mapre85fn59UuLDSf1CCWLo5uMGS6TzP9jtJETHoTszgeQBUTneTd2UcJZoMXh7J6b5SLG16HBDx?format=match&mode=fit&width=640)

Investors' general disappointment is also confirmed by the fact that Lido Finance is now in third place for the amount of outflow. It now accounts for 69% of the queue of outgoing validators.

(https://steemitimages.com/p/AmRc67RgYaWTCbCd1L4AQP82AFWYYzZC15DpSZWeSYgzVNNApJ5pAws9FcHiLDexKmv2vqb6WpsBrV8ecjxqHapKcaffnzAbCzUE25tQJkeaz8SyEFhWX3D5kFdNGJn6ebKU8Qa9E7mD8tPeMGYbPTjEvmLZc5EE?format=match&mode=fit&width=640)

The decline in overall investment attractiveness is also linked to the SEC transferring Ethereum to the category of securities immediately after the network transitioned to PoS, the growth of centralisation, censorship in the network and the dominance of Lido Finance in the staking pool.


StormGain Analytical Group (https://stormgain.com/)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on December 01, 2023, 09:14:31 AM
Investments in crypto ETFs grew by 120% over the year

The current year is becoming a transition period between bearish 2022 and bullish 2024. This can be seen in the change in the sentiment among institutional investors (companies with investments of $1 million or more). This group of participants increased their investments in crypto ETFs by 120% in 2023, bringing the total to $43.3 billion.

(https://steemitimages.com/p/7b4bio5hobgskW8qdPdvSqcwwJTvbiCMpGmRey1Rtd8H5quHnkSwkdBdrTQhw77L5yGnU9g5kwjszL9uufF3hRFuVTdj8okQfb4q7hMftWdnrNWu894E2XR6XLZEa9EsFtXCJqDc85UUBpwv26djcM5fFQCW?format=match&mode=fit&width=640)

Bitcoin remains the absolute leader among institutional investors. During the year, the volume of funds under management in Bitcoin funds increased by 140% to $32.3 billion. There was also significant interest in Solana. We covered the reasons why previously (https://stormgain.com/blog/solana-breaks-records-for-investment-interest).

(https://steemitimages.com/p/7b4bio5hobgskW8qdPdvSqcwwJTvbiCMpGmRey1Rtd8H5qWniufLGf5kvbmkuFYfKoEB8rVUSu93T11SXg3qSJEEEFmQFRzBNPbakmMyuy5ZuV7ndQN5mkAaYx6tWo2oLCU6emWyNHkzQFjLuKFMb438u1kS?format=match&mode=fit&width=640)

Ethereum, on the other hand, has seen capital outflow for a while now, and only in recent weeks has the situation started to improve. The annual dynamics are still negative, though.

(https://steemitimages.com/p/7b4bio5hobgskW8qdPdvSqcwwJTvbiCMpGmRey1Rtd8H5rffRNvRCKXYDEqpKZAh3gfENw2fjMf4EGsTKPap6jHcUaLvJmW6v3m8xHaXUG94J98kVgdji5jrAKdsRsNwqmBCbTNeBbK7J17SRHApL1Rg8JNz?format=match&mode=fit&width=640)

As you can see from the table above, $1.1 billion of the $1.7 billion invested over the year came in the last month. This is due to the increased chances of approval of a Bitcoin spot ETF in the US.

First, a pre-trial agreement has been reached with Binance with a $4.3 billion fine and the crypto exchange leaving the US. Under these circumstances, it'll be easier for the SEC to approve ETFs, as dissatisfaction with the crypto exchange has been dragging on since 2018. Second, the SEC held a series of meetings with applicants in November to allow them to edit applications in line with requirements. This dialogue is perceived by market participants as a signal that ETF approval is soon to come.

Most applications will likely be approved in bulk on or before 10 January 2024. This is the deadline for approval of the joint application from ARK Invest and 21Shares. If the SEC rejects it, it'll have to justify its decision. The regulator previously lost to Grayscale on appeal, where, in similar circumstances, a court found the SEC's actions to be "arbitrary and capricious".

(https://steemitimages.com/p/7b4bio5hobgskW8qdPdvSqcwwJTvbiCMpGmRey1Rtd8H5rUahvxLmq6GiE7xvMpDcRuo6F4sLyTsGeSrRR4QzExMDrVPYRHfTFm86UX4fcenL4S9NdXuzF4Heap96P2YHb9QcA8HiisnFqt2hDhS22N9GWCW?format=match&mode=fit&width=640)

Due to the high chances of the emergence of the long-awaited financial instrument, institutional investors have ramped up their investments. Bitcoin continues its victorious 2023 march, having grown 2.3-fold in value.

(https://steemitimages.com/p/7b4bio5hobgskW8qdPdvSqcwwJTvbiCMpGmRey1Rtd8H5rRw3iCY13EKFKcA5zQwwztk26vgsfKTEfZCPsy7fMrGd1qf2mpcur3XQTDzC8Koki8AKiCsXQ7gjwZ6yzcQRbVumAJKuCiHcj5M1uFdDDkErYCv?format=match&mode=fit&width=640)

The emergence of ETFs will allow investment and pension funds, as well as insurance companies and other US financial market participants (which have legal restrictions) to invest in cryptocurrency. According to various estimates, in the first year after the launch of ETFs, there will be $14 to $100 billion in new investments, and Bitcoin's price will rise to between $70,000 and $100,000.


StormGain Analytical Group (https://stormgain.com/)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on December 05, 2023, 10:18:11 AM
Bitcoin gets an additional boost from the Fed

Bitcoin is overtaking traditional financial instruments by a significant margin. BTC's price has seen a 150% increase in less than 12 months, while the Bloomberg World Stock Market Index has risen 15%, and gold gained 14% over the same time.

(https://steemitimages.com/p/W5LtFUPm6g7111bbdcuxu3bfUg5qaCq8seb5paCtrrT7zNCRr5xhNqm2XwExrV5PyQZHwTSRDjjveet4eDTgjXPvC5Pb3i76CjcmjxycEGv4EGAUz2iDk2uu821BaCsGinRpZB1G8LT4p1MrvViJpyGpH9jYS?format=match&mode=fit&width=640)

Bitcoin's price is rising due to two anticipated events. First is approval to launch spot Bitcoin ETFs in the US. There are currently 12 applications, and the number continues to grow. The applicants include the world's largest financial services companies, BlackRock and Fidelity, which have over $10 trillion in assets under management.

(https://steemitimages.com/p/W5LtFUPm6g7111bbdcuxu3bfUg5qaCq8seb5paCtrrT7zNCiyaShEr4bQbp9FbGhvTJPYGfZcTBSQB1ooabGVnJEeL6EMLoRid4aH6yScTMCZBMk25x55FXPNo42bskNajwXbAE77gSXczii6zYA3tS4K3LCn?format=match&mode=fit&width=640)

An ETF will raise capital from institutional investors who can't interact with cryptocurrency directly. This would include pension funds and insurance companies, first and foremost. Institutional investors are likely to allocate part of their funds to cryptocurrencies to diversify their portfolios, and 1% of BlackRock's assets already accounts for 12.5% of Bitcoin's total capitalisation.

The boost from the emergence of ETFs in the US is hard to exaggerate. For example, the US accounts for 42.5% of the $109 trillion global stock market.

(https://steemitimages.com/p/W5LtFUPm6g7111bbdcuxu3bfUg5qaCq8seb5paCtrrT7zPUo2qbJAK4HvnCVD6E9wbn8d8mRdh8U3T7eGD33PhyJnd5f7RqNAEfJSYY1iMcWzeUhfWgAuVU2CgQA39vuMpDTktMtQGBvFV6rdrx6VcZNFeSjQ?format=match&mode=fit&width=640)

Bitcoin's halving event and the reduction of the supply rate is the second anticipated event. The deflationary mechanism contrasts with excessive money printing by governments to cover rising costs. Each time halving has occurred, it's led to Bitcoin experiencing a rally.

(https://steemitimages.com/p/W5LtFUPm6g7111bbdcuxu3bfUg5qaCq8seb5paCtrrT7zP4FsriMcscc9VFJkNXwfzdz1GZVWtnFWtbR3aDcGr4GoQTeEJoHSkpEV9crYcngeksjNe4k14PitVhYDHYyKgwDsovypiy5CrbirPMahSQWTzjW6?format=match&mode=fit&width=640)

The third factor of growth is the strengthening of the belief that the US Federal Reserve has reached the end of its interest rate hike cycle. The reason was the latest speech by Federal Reserve Chairman Jerome Powell, in which he discussed the success of the regulator's monetary policy and the gradual decline in inflation. Powell's favourite indicator, core inflation, has fallen to 2.5% over the past six months. This is close to the Fed's 2% target rate. Nevertheless, the Fed Chairman gave a clear signal that this isn't a reason for a rate reversal just yet, saying:

"It would be premature to conclude with confidence that we have achieved a sufficiently restrictive stance or to speculate on when policy might ease. We are prepared to tighten policy further if it becomes appropriate to do so".

The market reacted to his words in its own way, and a number of media outlets interpreted Powell's speech as a signal that the key interest rate would decline rapidly. Gold and stock indices shot upwards, and Bitcoin gained 10% in this month alone to reach $41,500 per coin.

(https://steemitimages.com/p/W5LtFUPm6g7111bbdcuxu3bfUg5qaCq8seb5paCtrrT7zNBiNihok9Noszuh7NuUiwBnqzPUdsRTsuxvb2tjsyW23vdU9vMZrjRrZ8SsRE48PBQTLM6h3NTL5KXvgaP7tSHKTrvRGGUULXkFQvyqzfRcTpdsk?format=match&mode=fit&width=640)

This assumption among market participants isn't groundless. According to the minutes of the regulator's meetings, the majority of FOMC members expect the first rate cut to happen as early as next year. The Fed's reversal will further increase investors' interest in risky assets.


StormGain Analytical Group (https://stormgain.com/)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on December 06, 2023, 04:43:07 PM
Bitcoin bears are hit by train again

The desire to catch the reversal from the round level contrary to the main trends sometimes leads traders to significant losses. Over the last day, sellers on the perpetual futures market who were counting on the reversal from $40,000 lost $84 million. Previously, they incurred significant losses when the price surpassed $35,000.

(https://steemitimages.com/p/3jpR3paJ37V8JxyWvtbhvcm5k3roJwHBR4WTALx7XaoRovTdZGxf8Bs6qPa7EioAzaAJyjTHwQ2sjdvCKcRRWnTiBK2t8dDrvdHEx1PfGigMdawV75dPDWTt1c8MPeLrCy7dQ?format=match&mode=fit&width=640)

Among institutional investors, there are also desperate players investing in short crypto funds who derive profit when the asset's value decreases. While $0.9 million was withdrawn from such funds two weeks before, the inflow totalled $3.6 million last week.

The share of bears in this group of investors was only 2.7% of the total inflow to Bitcoin funds.

(https://steemitimages.com/p/3jpR3paJ37V8JxyWvtbhvcm5k3roJwHBR4WTALx7XaoRovY6qWuanU7p4s2tPiK7idX4KP7iAYHUFut7Rv2wLfvJvL8micNj2Qg6XkKaFHPviA3VGTSKzrAegRpUVvFhkcvbQ?format=match&mode=fit&width=640)

Excluding a possible bounce from the round level and an imbalance in favour of the bulls in margin trading, the only valid arguments for the current sell-off could be the expectation of the SEC's denial to launch ETFs or a sudden rate hike by the Fed.

The probability of the second event is minimal as inflation is gradually declining, and an excessively high interest rate may result in a recession. As for the SEC, the regulator may once again move the deadline for approving spot ETFs. However, a complete rejection of the new product launch is nearly off the table due to the SEC's loss on Grayscale's appeal, where the judges deemed the SEC's approach to be "arbitrary and capricious". The case was about transforming the trust fund into a spot Bitcoin ETF, and appeal deadlines have expired. The "automatic" switch will happen in March.

Growing expectations of an upcoming switch have caused the fund's share discount to the underlying asset to drop from 46.1% to 8.7% this year.

(https://steemitimages.com/p/3jpR3paJ37V8JxyWvtbhvcm5k3roJwHBR4WTALx7XaoRovaTUVunRP3rHr2u5HwVZsHG4PYbcXR5KEYVVKrYz8RuRECiSJsi5jEHkuiPxZJntBL474mEW7ZLR8oWHWHEUL8Er?format=match&mode=fit&width=640)

Another example of increased interest from institutional investors (who have been the leading investment force for Bitcoin since 2020) is the setting of a new high in inflows into the largest BITO futures ETF and the tripling of shares of leading cryptocurrency companies (e.g., MicroStrategy or Marathon Digital) this year. Due to the lack of an easy-to-operate spot ETF, institutional investors are investing in related products.

(https://steemitimages.com/p/3jpR3paJ37V8JxyWvtbhvcm5k3roJwHBR4WTALx7XaoRovbchG3k6Mvs1XWdgdBzxwuf9mRhAoSvP5ZRWBFMz95JNL7DAoTiYtugET3crfEmNiMA8tsqGv72SaMFmYQh2MRW6?format=match&mode=fit&width=640)

In 2023, Bitcoin is going strong with the expectation of positive developments. Investment volumes are rising, more people are sending coins to cold wallets, and cryptocurrency exchanges' reserves are continuing to melt away. In these conditions, playing short looks quite risky.

(https://steemitimages.com/p/3jpR3paJ37V8JxyWvtbhvcm5k3roJwHBR4WTALx7XaoRovX9gxqsXHrHBpnupRezKvJoqDAnbiTFnJfiyQzUJLffbqr5Hvnrxhy9N6RnXZ6DVwJjhvLd9YKBFaEXYJSC2o1xJ?format=match&mode=fit&width=640)


StormGain Analytical Group (https://stormgain.com/)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on December 11, 2023, 08:38:06 AM
Hype or recognition: Why Bitcoin is rising

Despite the overwhelming amount of objective statistical data, some experts and economists still see Bitcoin's growth as hype and "speculative madness". For example, economist and CEO of brokerage company Euro Pacific Capital Peter Schiff argues that Bitcoin's growth in 2023 is caused by speculation around spot ETFs:

"The surge in Bitcoin's value… could be its 'swan song', indicating a significant decline".

He is supported by John Reed Stark, a former SEC official:

"Crypto prices go up for two reasons: First, because there is no regulatory oversight to prevent market manipulation and Second, because people are able to sell hyped, FOMO'd and overpriced crypto to a 'greater fool'...[The same goes for speculation about] the reported 90% likelihood of the SEC's approval of a bitcoin spot ETF".

For the past two months, the talk about Bitcoin has revolved around ETFs, which would provide access to the crypto to market participants in the US who can't work directly with it due to legal restrictions (e.g., insurance companies and pension funds). Even allocating a small part of their investment portfolios would lead to solid growth in Bitcoin's price due to its modest capitalisation.

Twelve companies with a total of over $20 trillion of assets under management have applied to the SEC to create ETFs. Bitcoin's entire market capitalisation is $0.8 trillion. These companies will offer existing customers the chance to diversify their investments with crypto and attract new ones.

(https://steemitimages.com/p/7258xSVeJbKkzXhyseBP4PYz11eBDT8sW2oR1a4vfVFS6HYVA4XH6tqdDjunk55zKVyUjBwFzuziXUMeqV9BwYday17LhWGp98Hqy2ZS8jwVCpSE8g8ZiytS5ZZBmS2QM6SdqvjwowjLa?format=match&mode=fit&width=640)

If the SEC refuses to approve the ETFs, which is unlikely after Grayscale won an appeal in June and the appeal period elapsed, it would likely lead to a correction in BTC's price as the resulting capital inflows from institutional investors would decrease. Their activation is clearly evidenced by the growth in open interest on the Chicago Mercantile Exchange, which has outperformed Binance this year.

(https://steemitimages.com/p/7258xSVeJbKkzXhyseBP4PYz11eBDT8sW2oR1a4vfVFS6HTZuuNfTJJGXUhMwpcZDtwtYEJB9yWqq6XJ3UWbektt7aX8f6wRfsf65iPNMkQF6p1CVMcUPLQW1BY4v7Lu6K9gzZQHY3qan?format=match&mode=fit&width=640)

The correction won't be Bitcoin's "black swan", however, since the hype around ETF only accounts for the growth seen in the last two months. Objective interest in Bitcoin has been present throughout 2023. Firstly, this year, crypto exchanges' reserves have declined by 8% to 2.01 million BTC. This signals that more holders are increasingly moving coins to cold wallets for long-term storage.

(https://steemitimages.com/p/7258xSVeJbKkzXhyseBP4PYz11eBDT8sW2oR1a4vfVFS6HydKMyt7euasJYttu9RigSq24Yb2C15ZHFZ3mGMJMYvtR7mNotqor12LsMDmkXNUvJ8G1qq8Mxq6SYiLKnYTLWjdqFzU1akv?format=match&mode=fit&width=640)

Secondly, the trading volume on the spot and derivatives markets still hasn't surpassed the March figures when the bankruptcy of some US banks led to a boost in interest in Bitcoin. Moreover, spot trading volumes are growing faster than derivatives trading volumes. This again emphasises long-term rather than speculative demand.

(https://steemitimages.com/p/7258xSVeJbKkzXhyseBP4PYz11eBDT8sW2oR1a4vfVFS6JRmdNGCfyfEsAU3FAGP5Co5h4UTEudWsJJ2ZkQvVDLFY51Cego9YHZUJ92evbqef23zp9QRs8TjG9BgP59EHTBBnQw4DkYpE?format=match&mode=fit&width=640)

Thirdly, the reserves of long-term holders are growing, while short-term holders, on the contrary, have reduced their share to all-time lows as a result of opting for 'quick' profits.

(https://steemitimages.com/p/7258xSVeJbKkzXhyseBP4PYz11eBDT8sW2oR1a4vfVFS6JLKibG7x6XkLdyUuhRmZHv5E2duHjNRnTUJoxXZcdJiukDbBVCcPTeFiDx4cuLeXavpALf3G9NBQZnbdjrP9Tzk4DGyMAEhU?format=match&mode=fit&width=640)

The trend to reduce circulating supply has been going on since 2020, as more and more coins settle in wallets for longer periods. BTC's upcoming halving event will strengthen this trend even more.

ETFs will certainly create a strong momentum for Bitcoin, likely leading to a record update as early as next year.

(https://steemitimages.com/p/7258xSVeJbKkzXhyseBP4PYz11eBDT8sW2oR1a4vfVFS6JTyCXDqoaEiGWu41UAFK41n9gNENdsJNYDAUgMsnyAaeXxwisgLQ4nqBdjF9WCANntc5YTJ96p8xpsGQ94weTo4ovsXyYBNe?format=match&mode=fit&width=640)

But even without ETFs, Bitcoin has enough reasons to maintain its momentum. Crypto adoption is growing every year as more people discover crypto's benefits, and there's talk of its demise or 'tulip fever' decreases. That said, supply is limited to 21 million coins, which creates a supply shortage and leads to higher value as demand increases.


StormGain Analytical Group (https://stormgain.com/)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on December 12, 2023, 12:08:07 PM
Short-term Bitcoin holders are locking in profit

Autumn marked the transition from a bear to a bull market. After 533 days, Bitcoin crossed the threshold of the actual mid-market price (the updated realised price model from analyst agency Glassnode).

(https://steemitimages.com/p/32FTXiZsHoAW6noHJDhrg3W8ZKHVFSsLYM859aTDCF8iErNjpY1EFNNXLNQkUPKPoupoAUMRzqWexM23gEGAkQV9GF95NTumFbjBFoeLBKGava7F7ntqpCffNmqwdnAS1m9C6r5dXTYXrWT8?format=match&mode=fit&width=640)

Over 95% of short-term holders (STH), mostly traders and retail investors, turned out to be in the black.

(https://steemitimages.com/p/32FTXiZsHoAW6noHJDhrg3W8ZKHVFSsLYM859aTDCF8iErVVpHoJfDtFDu4shezCPSUQU6vnTaRy7VSJU81Xa2JygYS6TMDb7k3T3At8jXzMtkSD8LNixawC9gKcRAppeEJwUVo7dMpztZJe?format=match&mode=fit&width=640)

This group typically experiences abrupt mood swings. As seen in the chart above, when "critical mass" is reached (i.e., the index surpasses the 90% threshold), a market correction often follows. This is STH striving to lock profit or negatively react to the correction.

Derivative traders have lost over $300 million in bullish positions in the past 24 hours. This was primarily due to a sharp price decline that triggered Stop Loss orders and received an additional boost for an even greater correction.

(https://steemitimages.com/p/32FTXiZsHoAW6noHJDhrg3W8ZKHVFSsLYM859aTDCF8iErNahDxJHgU3WQYnSpXVPgLY6PpNqG1VQ8oirtvAyR2ic1fV8u2dmCw9Gn7nPsZXXtBdz32WzE3mbXQ5u5L9qfJ3KsAaafc3QVyp?format=match&mode=fit&width=640)

Initially, the sale could've been triggered by a whale or a major market maker. We have repeatedly warned about this risk since the market depth and trading volumes are far from even this year's highs, and traders have significantly increased leveraged buying. Combined, these factors create a favourable environment for market manipulation.

(https://steemitimages.com/p/32FTXiZsHoAW6noHJDhrg3W8ZKHVFSsLYM859aTDCF8iErGeDGwZvkrbc69EYtPYiYd6x3MhzyZEfTb8nVKtAG2MkLrMQbi4tY9krT3YJk4ycaMA1sLz6ARV3JPz4Y874W76BpgSREd9L4yL?format=match&mode=fit&width=640)

Bitcoin's price has surged 2.5-fold to $42,000 in 2023, leading many market participants to think that a technical correction is possible.

(https://steemitimages.com/p/32FTXiZsHoAW6noHJDhrg3W8ZKHVFSsLYM859aTDCF8iErNemegn3H6CnRHqeF4KgkPPH57CyGzaHsrvh4odLCSA7vMnPPHsmkspGuKrMmth274DiAC5ewZTzHr2yuWfjDMe2Bg9Xm3pAe86?format=match&mode=fit&width=640)

Additionally, negative sentiment has been fuelled in recent days by talk of the SEC possibly refusing to approve spot ETFs. John Reed Stark, a former SEC official, hints:

"…For Gensler to approve spot ETFs would be a capitulation, contrary to his conduct and enforcement practices".

Fuel was added to the fire after the investment giant BlackRock made an adjustment to its spot ETF application. In it, the firm describes the negative impact on the value of Bitcoin if the SEC deems the ETF to be a security. This wording didn't exist in previous versions. It seems that it appeared after BlackRock met with the SEC.


StormGain Analytical Group (https://stormgain.com/)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on December 13, 2023, 04:15:05 PM
US government deal will bury Binance

"Binance faces unprecedented government oversight of epic scale <...> The agreement requires a 24/7, 365-day-a-year financial colonoscopy of the company and its customers." those are the words of John Reed Stark, former Chief of the SEC Office of Internet Enforcement.

In November, Binance and the US Department of Justice (DOJ) entered into a settlement under which CEO Changpeng Zhao (CZ) admitted to violating a number of laws and the cryptocurrency exchange agreed to pay an industry-record $4.3 billion fine, bring in independent supervisors, and provide access to all operations.

Last week, Stark posted his expert opinion on the potential demise of Binance, citing the government's official requirements from the agreement. The list of obligations alone totalled 13 pages of printed text and included procedures that hadn't previously been used against companies. Specifically, upon request of the supervisor, the cryptocurrency exchange must provide:

- Access to any documents or records of any of its subsidiaries
- Information access to counterparties, former employees, agents, intermediaries, contractors and other third parties.

The agreement will be monitored by:

- The Department of Justice's (DOJ) Criminal Division
- The DOJ's National Security Division
- The DOJ's Counterintelligence and Export Control Section
- The US Attorney's Office
- The Financial Crimes Enforcement Agency (FinCEN).

Binance must strictly follow US and international requirements, with no obligation to be notified if the supervisor detects misconduct. All reports of inappropriate behaviour will be immediately sent to supervisory authorities.

According to Stark, the list of commitments sounds more like a consulting firm's wish list, as it would cost tens or hundreds of millions of dollars to complete, and it would be nearly impossible to survive a joint audit from the DOJ and FinCEN.

What's even worse for the crypto exchange is the fact that the SEC has made no offer. As a result, the regulator is already pulling clauses from the agreement to use the plea facts once again against CZ and Binance to reinforce its position in the upcoming trial.

Attacks on the crypto exchange in 2023 led shrunk its share of the spot market from 55% to 32%.

(https://steemitimages.com/p/cyxkEVqiiLy2ofdgrJNxeZC3WCHPBwR7MjUDzY4kBNr81LPmZjAtKyJ4ePHQv7uSYgni3R59oYLK5akSfEPv8EmEKFTZEq29XmgveNNdQhc6eE1fQvgbvd45ePSPPP8Adre?format=match&mode=fit&width=640)

It has a 47.7% share of the derivatives market, which is its worst result since October 2020.

(https://steemitimages.com/p/cyxkEVqiiLy2ofdgrJNxeZC3WCHPBwR7MjUDzY4kBNr81LvNDmu1fqKyXTx5aKA9xxmqskJu2Amiztvhs1MqgicJPMJrZ9ja1PHg9YzDCGRVUFBRmtkpf3YdLz9jBFfRaVC?format=match&mode=fit&width=640)

Its own BNB coin is trading at the same place as at the beginning of the year, missing the start of a new bullish season.

(https://steemitimages.com/p/cyxkEVqiiLy2ofdgrJNxeZC3WCHPBwR7MjUDzY4kBNr81LehrsfQXejsryEx1UJenaTJi6TKFUcAgJeXaK4pWkW7fDtZsS6SmdJSeG6SpxsZ83GZUqbQhx4YfxsfLr68JYv?format=match&mode=fit&width=640)

If John Reed Stark is right, then Binance's hard times aren't over yet, and BnB is waiting for new lows.


StormGain Analytical Group (https://stormgain.com/)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on December 14, 2023, 10:58:23 AM
Why Avalanche rose 3.5 times in 2023

Avalanche and Solana belong to the group of Ethereum killers because they support smart contracts and provide high speed and low costs. It takes Ethereum a few minutes to complete a transaction, while Avalanche does it in less than a second.

(https://steemitimages.com/p/8DAuGnTQCLptHK3w4xbU3SMDsfFVWre2qvkWUixoMRzeeaKRmcNALE7gj7cdDRcxXhE86QJSJQfR4oZCWJrc2uydAmxbBFkwdaxpjSvN1VRpK13ny2dsyBqWmEL4QsetqKeB1t2opdZXzHkfzP57NCf3sA9oGuMPiogjCisYVzv?format=match&mode=fit&width=640)

The same applies to fees: it's $0.04 for Avalanche and an average of $11 for Ethereum.

(https://steemitimages.com/p/8DAuGnTQCLptHK3w4xbU3SMDsfFVWre2qvkWUixoMRzeeZk6uNzz7BBBiyTcVGn1ykce5ALbZ1YbLnUHS3mQVE8NBvCEJXLHjA9Az2jvXoiqg8ihQeYX1S7gDiwyg1x7878tXvr9gjCvvUKFspCcsJbMY6ddzHuMNDcxj6YsxkE?format=match&mode=fit&width=640)

Ethereum wins over other altcoins due to its long history, lack of critical failures (which Solana is famous for), and high reliability expressed in the number of active validators, which is currently 888,000 for Ethereum and just 1,600 for Avalanche.

But the 'killer' is doing quite well since its staking reward rate is 7.7%, while Ethereum's is only 3.8%.

(https://steemitimages.com/p/8DAuGnTQCLptHK3w4xbU3SMDsfFVWre2qvkWUixoMRzeeZxB1s92V8b8QUCZVtajrBp82y58Q6GL14FksoHcRG4hyAXCBJKMR37a6MSdySvireDdVX4ftFwUWftzus1xq2Tu9b7Vns1V39xvb8KhQiP2SPQ5atXr8MA7P1kQmQz?format=match&mode=fit&width=640)

AVAX's price has skyrocketed 3.5 times to $35, and Ethereum has only seen an 81% increase.

(https://steemitimages.com/p/8DAuGnTQCLptHK3w4xbU3SMDsfFVWre2qvkWUixoMRzeeaNeZwz3K4nvKJcFQ2eCYZbWCvFuv2h7YMsSSpFRDFD4ecufwZmL9qwSxgQV9Kmx2V6MMR4S5zkVwpSDwHLJ9FiGfGXA5pcQdDefZ2aoP3A33KCi7EVx3QFhzj9Qhd8?format=match&mode=fit&width=640)

This significantly fuelled interest in Avalanche, where the number of validators came close to an all-time high, and the number of daily transactions set new records. On 23 November, the network processed over 7 million transactions.

(https://steemitimages.com/p/8DAuGnTQCLptHK3w4xbU3SMDsfFVWre2qvkWUixoMRzeeZnp5MMSvA6HNX6TCVgM4CJWQGuo5Epa4pUwYMPFNR7DFwoPLUCPP2nGYb85TdWYDQ54Sz7QwsekJuq3WRABAGKfq7Jx4ok7nbfGe6xcRow2wGwLM3yEXdB1ALuoMmG?format=match&mode=fit&width=640)

This year's success was predictable. At the end of May, we covered (https://stormgain.com/blog/avalanche-prepares-the-ground-for-growth) the emergence of major partners for the network and Circle's deployment of the EUROC stablecoin based on it. In November, a pilot project with Citibank was revealed that uses blockchain infrastructure for interbank exchange, while JPMorgan announced a joint project to tokenise financial assets and automate portfolio management.

Implementing these projects will create a strong base for Avalanche's continued growth and make the network more attractive for future integrations.


StormGain Analytical Group (https://stormgain.com/)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on December 15, 2023, 04:53:29 PM
Tether is second to last in the S&P's stablecoin rating

S&P Global conducted a study of the stablecoin market on the ability to hold the US dollar peg, reserve quality, transparency and liquidity. Based on its findings, it compiled an overall rating system.

No stablecoin received the highest score of 1 or the middle-of-the-range score of 3. The scores were distributed as follows:

(https://steemitimages.com/p/LcTxR7u1XKaa3e4T1EBuBP18JezPvjFFo8gNuE9CiKHBn3bN1y2knpbcuNtYJ1EyaY1EzNtnZMyzi6jzhWhnaeKCfrxGKN3gThJHpLzNSiqXP6GYrhFhRfJMkwGY4rpDKoi7JME9NwfPeS5ham2VPk8Rc?format=match&mode=fit&width=640)

USDC took second place due to its high transparency and location in the US, but the coin traded at a 10% discount in March after some US banks collapsed. At that time, some reserves could only be saved through the government's and the Fed's intervention.

(https://steemitimages.com/p/LcTxR7u1XKaa3e4T1EBuBP18JezPvjFFo8gNuE9CiKHBn49r1s7SDrxKAy888DMeZdW384SrzzsmzukLPpjVvC4HW2MR8ihKi6sBrVCBWiG6CvV9UkSp83J4ugRSy3UnZj27KcQti5iPuJtMq1ENVpKQr?format=match&mode=fit&width=640)

USDT, on the other hand, has done better with the dollar peg but is still criticised for its lack of transparency and the presence of all sorts of assets in reserves, including third-party debt securities. For the S&P, that's enough to give it a below-average score and place USDT next to FDUSD, which is based in Hong Kong and has only been around for six months.

Criticism of Tether is justified, though, as the company initially promised to have $1 in the bank for every 1 USDT issued. It is still not meeting this condition. In the September reserves report, $2.3 billion is referred to as "other investments", and $5.2 billion is listed as "collateralised loans". Together, these two shady columns account for 10% of reserves.

(https://steemitimages.com/p/LcTxR7u1XKaa3e4T1EBuBP18JezPvjFFo8gNuE9CiKHBn317HbeyVG3fGHy8Yy26frLjEf4r68uL88GED3x6SHrvqqEHkgTHBumcuo8EotF1FrnnEeenze5uBhUgpgxDdSDofbUYkKQP528yS2G3ajKk2?format=match&mode=fit&width=640)

Tether pulled a trick with listing Bitcoin as an asset.

(https://steemitimages.com/p/LcTxR7u1XKaa3e4T1EBuBP18JezPvjFFo8gNuE9CiKHBn624iFJf6UWiB8YSSFtGLyYKSkUrogvmRNiYXWeqMpKn53g1rtYUUV696cs5Qy1oeRGENPAqdhHaAdk7rpxTbXdyoKKcyjo277FvA1X9tSgwQ?format=match&mode=fit&width=640)

Allegedly, the coins only appeared this year due to significant profits. But lawyer David Miller admitted the company's investments in cryptocurrency at trial in 2019, and K33 Research showed a high correlation of the reserve with Bitcoin's price for several years.

(https://steemitimages.com/p/LcTxR7u1XKaa3e4T1EBuBP18JezPvjFFo8gNuE9CiKHBn42wFK2RBa2AikEe4mgrZyv871hyTSG3Y3eEUHZLyhUkAq3DFuVr9n9hojTS1TmYcQye7GWiLa6yezm7RLEiyGarLZyzgE45bU7sgAZWwsKA6?format=match&mode=fit&width=640)

These circumstances explain why USDT received only 2 points out of a possible 5. The cryptocurrency market is booming again, with Tether's capitalisation reaching a record $90 billion. However, as the market becomes more institutionalised and the regulatory framework improves, more questions will be asked.


StormGain Analytical Group (https://stormgain.com/)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on December 18, 2023, 08:31:30 AM
Crypto market drops, but analysts predict new era for Bitcoin and Co.

During Monday's trading session, the cryptocurrency futures market experienced significant turbulence, resulting in losses exceeding $500 million in liquidated positions for highly leveraged long and short trades. The intense volatility affected major cryptocurrencies, with some witnessing drops as substantial as 12%.

Bitcoin (BTC) traders were in for a roller-coaster ride as the original cryptocurrency oscillated between $43,000 and a low of $40,300, wiping out almost a week of gains and exerting a downward pull of the wider crypto market, including prominent tokens like Chainlink (LINK), Cardano (ADA), and Solana's (SOL), which saw declines exceeding 8% before a modest recovery. Notably, riskier assets such as Shiba Inu (SHIB) and Dogecoin (DOGE), both meme tokens with dog themes, experienced a comparatively milder 5% drop. In contrast, Avalanche (AVAX) managed to buck the trend, registering gains of up to 20% despite Bitcoin's weakness.

Over $500 million in 'rekt' positions liquidated

The market downturn led to losses of nearly $475 million in long positions (bets on higher prices) and $73 million in short positions (bets against), reflecting a general unwinding of leveraged positions amid elevated funding rates, creating an unstable market environment.

Liquidations transpire when an exchange forcibly closes a trader's leveraged position due to a partial or total loss of the initial margin. This occurs when a trader cannot meet the margin requirements, lacking sufficient funds to sustain the open trade.

What caused the crash?

There is no simple answer as to why the market started the week with such a sharp correction, but there could be several factors at play.

Firstly, traders could simply be taking profit and cashing in on the week's gains, which creates pressure to sell. Another issue may be an excess of leveraged positions in the market. When traders employ excessive leverage, they are essentially engaging in trades with borrowed funds. While leverage can be advantageous, it comes with risks that can be detrimental when the market turns unfavourable. In the event of price drops, these traders are at risk of being completely wiped out, i.e., liquidated, which can have a significant impact on the broader market.

Does Bitcoin still have a future? All fundamentals point to yes

Despite the recent market upheaval, most market analysts are still bullish on Bitcoin, pointing to the range of recent developments in the Bitcoin ecosystem, including Ordinals and Layer-2 solutions, the high level of interest in Bitcoin spot exchange-traded funds (ETFs), and the next halving event anticipated in Q4 2024.

BTC prices started moving upward again in October after nearly half a year of sideways price action, gaining around 50% within the last month and 150% since the start of this year. On-chain data also shows evidence of whale accumulation, with consistent BTC purchases by accounts holding over 1 BTC.

Institutional investors are increasingly throwing their weight behind Bitcoin, and so are sovereign nations. El Salvador's eagerly awaited Bitcoin bonds, referred to as "Volcano Bonds", have reportedly obtained regulatory approval for their introduction in early 2024.

The Digital Assets Commission of El Salvador has purportedly given the green light to the Volcano Bond, with an expected launch slated for the first quarter of 2024, as outlined in a statement from the country's National Bitcoin Office (ONBTC) on 11 December.

El Salvador marked a significant milestone on 11 January by enacting groundbreaking legislation that established the legal framework for the Bitcoin-backed bond. The primary purpose of the Volcano Bond is to retire sovereign debt and finance the development of the country's proposed "Bitcoin City", with the name of the bond being a reference to President Nayib Bukele's plan to leverage volcanic energy to power Bitcoin mining.

All things considered, things don't look bad for BTC in the long term. Despite being the oldest cryptocurrency, with many pretenders to the throne competing on utility, energy efficiency, or meme factor, Bitcoin is demonstrating remarkable resilience as both a digital asset and a platform.

Staying cool during the market correction

Veteran traders will already be well aware of this, but everyone with positions in the crypto market should be prepared to take a deep breath and calmly weather this latest wobble in prices.

Volatility returning to the digital asset market can be seen as a positive sign. After all, volatility is why crypto made so many overnight millionaires and excited investors around the world in the first place. A market correction is normal after a bullish surge, and after the weaker and over-leveraged positions have been liquidated, a period of stable gains has often followed. Volatility can swing both ways, and the wise trader will watch the crypto market and the wider macroeconomic environment to take advantage of the next trend.

Get the best perks for trading BTC and more with StormGain

The increased backing from institutional investors, a growing interest in spot ETFs, and the anticipation surrounding next year's halving event are all setting up the next few months to be an important time in crypto history. For individuals seeking to profit from the future price fluctuations of cryptocurrencies, StormGain offers optimal conditions for beginners and experienced traders alike.

Available on the web or a user-friendly smartphone app, StormGain is a comprehensive crypto trading and investment platform, granting round-the-clock access to the top assets in the global cryptocurrency market. To help you maximise your gains, StormGain provides all the essential tools for success, including trading signals, competitive fees, a range of educational resources, and secure crypto wallets. StormGain users even benefit from an integrated Bitcoin cloud mining feature that earns free BTC just for being active on the platform. If you haven't joined StormGain yet, take a few seconds to register and try a demo account to see how StormGain can start you on your journey to cryptocurrency trading profits! (https://stormgain.com/easy-start)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on December 19, 2023, 10:03:16 AM
Bitcoin's fee hike leads to increased demand for Litecoin

On 17 December, the average fee in the Bitcoin network set a one-year high, reaching $37. Binance contributed by listing ORDI in November. As a result, the token's price rose ten-fold. The average fee has seen a six-fold growth during the same time.

(https://steemitimages.com/p/2VZXybTSZJq1AreaDn1D7Jp7ZEvgLC9TvJctofX1ChMgSZrsSHsrMsDRzhPStC7iWrAJbtRacUTx8NeEyHxwosNW5BDimXwPcP6rC6AB6wumq8YBu17t5jmuNaofp31g2UAqZjbVrJu9FXmV8CJM3qjAwFU?format=match&mode=fit&width=640)

Once again, Ordinals, which facilitate over half of all transactions, were the reason for this rise in costs. Ordinals are artefacts within a network, such as images or other digital objects. The Ordinals protocol was introduced in February by developer Casey Rodamor. Months later, he apologised to the community because of the surge in spam on the network.

Since May, the primary volume of Ordinals has been represented by quasi-tokens or meme coins (similar to ERC-20 coins on the Ethereum network). They don't carry a payload, and all the hype is associated with speculative expectations. Coins now account for 99% of transactions among Ordinals.

(https://steemitimages.com/p/2VZXybTSZJq1AreaDn1D7Jp7ZEvgLC9TvJctofX1ChMgSZyFBiQtEqh51Geu8xRVKHZodchFxHW3V3bTS7BRRxhMegWFjaFmxVMr35oHSTqqjZNJvxPKKi6PD6C5uEsGyxAqZYH8zfnBVntrsGjYRXbrAcn?format=match&mode=fit&width=640)

Advocates of developing the network conservatively have condemned the new sphere, with Bitcoin Core developer Luke Dashjr threatening miners with a PoW algorithm change if they don't start filtering transactions. Ocean Mining, the pool he founded, has previously admitted that it filters out Ordinals.

However, the likelihood of changing the algorithm is extremely low since not everyone supports such radical decisions. Some participants see the emergence of Ordinals as a natural stage of evolution, which increases the demand for transactions in the network, leads to a rise in income for miners and, due to their greater involvement, improves security.

Thanks to Ordinals and the rising value of the cryptocurrency, the yield from the power terahash hit a new one-year high yesterday at $0.13.

(https://steemitimages.com/p/2VZXybTSZJq1AreaDn1D7Jp7ZEvgLC9TvJctofX1ChMgSZmF7Q46SM14xgGim6YF6iYwJNaMxfYGrByTU7HMzvYBnSpY7mvyhu4tktveUJP33TtCXFLE1d9tkwjivFAsr7pe7VkNaT8c7cbViQnRurfvgjY?format=match&mode=fit&width=640)

The downside of the high fees is a declining interest in Bitcoin as a means of payment. In May, after similar events took place, the use of Litecoin skyrocketed. The latter is similar to Bitcoin in most technical parameters, but the average transaction fee is less than $0.01.

(https://steemitimages.com/p/2VZXybTSZJq1AreaDn1D7Jp7ZEvgLC9TvJctofX1ChMgSa18qaj8DWGADpo4yT1Y69z7pGqMPvq6ru78Nj7eQGgs8RoJbJXW9yy4AFsQkehaNgrJpfwMnCuCF6AeRGqCvNRwKUSnebLgA3RuacuU21NkKPU?format=match&mode=fit&width=640)

In November, the number of completed transactions set a new record.

(https://steemitimages.com/p/2VZXybTSZJq1AreaDn1D7Jp7ZEvgLC9TvJctofX1ChMgSZmJQTPP6oeMjecni1mvGmH4917w651HZdKnEJDV7G2R77TMs7Qw9JQJraZoZWgTXCW1Hhpm2xdxFSShY1vYd1Kc84mzcS38qXqgApyXS11wQx6?format=match&mode=fit&width=640)

If the Ordinals hype doesn't calm down soon, increased demand for transactions involving Litecoin will cause the coin's value to rise.


StormGain Analytical Group (https://stormgain.com/)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on December 20, 2023, 03:31:43 PM
Ethereum faces another threat in 2024

After transitioning to PoS, the second-largest cryptocurrency faced a series of new challenges, the key one among them being the SEC's active enforcement policy. American crypto exchanges, which collectively accounted for more than a third of staked ETH, received pre-enforcement action notifications. Most of them agreed to the deal, which resulted in them closing off access to staking for retail investors. Kraken and Coinbase saw combined withdrawals of 40% or 2 million ETH (about $4.5 billion).

(https://steemitimages.com/p/21PRtjKRXPQybj4WUXScWv5QPLninWRxfbcWNsx7SenD7FxD3xD5d1BgHmkraULKhRCrrWww25BKQt5PiQkuAu5uj1rmi2jStw6H746vi7bUqKDL1fr7b1pfJEEjmcntafCeWTLDApogD9y74yF4XK4?format=match&mode=fit&width=640)

The drop in Ethereum's attractiveness as an investment for Americans made it weaker compared to both other altcoins and Bitcoin. In 2023, it lost 28% to Bitcoin, which is usually characteristic of a bear market.

(https://steemitimages.com/p/2KZBmxW92Gug4zXWE4CBU3pUMp8boEjs3SNzoAghV7EzZud5Sw3bXqDsr13TbfJyRWRspiM7as8W12JpUJurscgsVHphQRhh4f9aUVmMpco8zfJCEcbmRQmFSJaU5oYYVBFp1BS1QwQdx2v6nx1GcRT76LCYYXG36reuhnt2xY35Zy2dAS3Pd6bkxRzXkFmbFDT4?format=match&mode=fit&width=640)

This serious lag couldn't be compensated for with the staking programme, the annual yield of which isn't even 4%. As a result, the queue of those wishing to stake ETH has sharply decreased. Now, the wait time to connect is less than one day.

(https://steemitimages.com/p/21PRtjKRXPQybj4WUXScWv5QPLninWRxfbcWNsx7SenD7FwqWoChmAtWaJZ9EM23Nm6vhtyDWQC1aTMfXKDbYEW1xdT1HAKj8EjmuXiZNGwJGkWpTV3XxH6qPBpzEVx6k1r8apvcNfopNFAHvVatnnS?format=match&mode=fit&width=640)

Another problem stemming from the transition to PoS is the network's growing centralisation. The Lido Finance platform now accounts for 32% of all staked funds and an impressive 77% in the liquid staking derivatives market. Liquid stakes are a programme that provides one's own token to replace staked ETH. Lido issues stETH, which is freely quoted in the cryptocurrency market.

(https://steemitimages.com/p/21PRtjKRXPQybj4WUXScWv5QPLninWRxfbcWNsx7SenD7FxFwwhnQUryZCJuTZpG8uqcGdwP6gbPp9mZwan9kugGQ9YTkrkuzujXNc2cJAKeJj2qtUb7JbhwLc9d3QstidZ7Fv3vv4oJTSzDNYT2Zsk?format=match&mode=fit&width=640)

For Ethereum, stETH's significant weight poses a systemic risk, as the collapse of the token will likely lead to turbulence among all interrelated assets. As a result, it's worth focusing on LDO, the parent token from Lido.

On 17 December, private investors in LDO filed a class action lawsuit against Lido Finance in the United States District Court for the Northern District of California's San Francisco Division. Their suit claims that they suffered losses as a result of the company's policies. The claim boils down to the fact that the token was released to the market at large after LDO was distributed to developers and early institutional investors. Two months after being listed on crypto exchanges, the token collapsed from $3 to $0.60.

(https://steemitimages.com/p/21PRtjKRXPQybj4WUXScWv5QPLninWRxfbcWNsx7SenD7Fvy6xGiXzG4tfQo78K3BKH8EhNDvRoAwSMh97ty3s9eLURujnxSzWvziakiZhPjiXna9s1b7pRrFbPDcijhR1cTysxMMJmEsVcn98BxWQ6?format=match&mode=fit&width=640)

The plaintiffs are asking for LDO as a security as the company acted out of "the expectation of profit from the actions of the management team." This is one of the points of the Howey Test that the SEC uses to determine the status of an asset. The lawsuit also notes that retail investors are unable to influence decisions since 64% of tokens are concentrated in the hands of developers and early investors.

If the court sides with the plaintiffs in 2024, the consequences for Lido could be very unfavourable. This, in turn, will negatively impact Ethereum.


StormGain Analytical Group (https://stormgain.com/)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on December 21, 2023, 09:34:45 AM
Ordinals aren't the only thing to blame for Bitcoin's high network fees

In 2023, a significant increase in transactions was caused by the Ordinals protocol, which allows digital objects to be exchanged over the Bitcoin network due to the numbering of satoshis. The first wave of interest in Ordinals came in the spring when the bulk was represented by visual images. In the second wave, interest shifted to meme coins, and the excitement was so intense that, on some days, they accounted for over half of all transactions.

Ordinals boosted the number of transactions processed to previously unseen levels.

(https://steemitimages.com/p/LcTxR7u1XKaa3e4T1EBuBP18JezPvjFFo8gNuE9CiKHBn3ijMFuvdc2vQxsbyhcoHLdx9uKGGdTCYj3vzDF8nKkPZUvo84K2eiJdnvdPRo96PpVAoYcod8qoyZudxSFq4zX2B9zg4zkdR2tbHb3bCuGD4?format=match&mode=fit&width=640)

So many transactions were completed due to the small space occupied by quasi-tokens in a block. While a large image may require the entire block, tokens, on the contrary, fill the free areas like grains of sand due to their technical specifics.

Despite the hype and large volume of operations involving them, Ordinals have consumed less than 20% of the block space since July.

(https://steemitimages.com/p/LcTxR7u1XKaa3e4T1EBuBP18JezPvjFFo8gNuE9CiKHBn5aoSPe1nQeuDAqgZngZhEBgCa32AwRJx1GHu3dvXdeCi4QrXAkgvjVgiUS4Q6f22BfRivBn7nqfAJsCo7foFpSjP1NtSnxJH7TqaZ5aBxLke?format=match&mode=fit&width=640)

The rest of the space is taken up by financial transfers, the weight of which varies greatly with the number of deposits and withdrawals. In December, monetary transactions reached 373,000 per day, the highest level since mid-2019.

(https://steemitimages.com/p/LcTxR7u1XKaa3e4T1EBuBP18JezPvjFFo8gNuE9CiKHBn3tBBXvTJf3HsxzuNymCPj8fcswg1Ecu1ae9BcoCVg3G6iF4f7T3L1kLn8eGGYnaBpF6hFfjY4AWkp7wwygbVbkQntCFq38nKDYJZe563fuiW?format=match&mode=fit&width=640)

The activation of market participants is driven by expectations of the upcoming approval of Bitcoin spot ETFs in the US, the halving event in April 2024 and a new bull season.

(https://steemitimages.com/p/LcTxR7u1XKaa3e4T1EBuBP18JezPvjFFo8gNuE9CiKHBn5JWnY1HPgWS8VodmU6wXiAtfgxpuea5ZGjc18sMB46F4G8u117tiSCJuDU7nFwp9n2LhasWV2ejyDBgn9JEdjBFskBKRz2CLvU5aqySFMcDc?format=match&mode=fit&width=640)

The trend is also evident in the increased interest in spot trading that crypto exchanges see in Bitcoin and Ethereum inflows/outflows.

(https://steemitimages.com/p/LcTxR7u1XKaa3e4T1EBuBP18JezPvjFFo8gNuE9CiKHBn5SuvCtdYC9CX75BhLjEeQaTBgtNSmr74VcrgUCgiTrU5X2VhNcTWYm7ap3vrdkAqKNuHLAQw3896nKJEEfVSh2YP9GjVYVbBE4A3Lkhu5gpe?format=match&mode=fit&width=640)

Despite the large number of transactions, quasi-tokens don't occupy much space in the block. Financial transactions account for the main competition for space in blocks. On 17 December, the average fee reached $37, a level last seen in April 2021. The trend will likely continue as new participants get involved and the market grows.

This problem can be solved by increasing the block size, which some developers are already calling for. Others see Ordinals and high fees as an encouragement for developing second-tier networks.


StormGain Analytical Group (https://stormgain.com/)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on December 27, 2023, 09:41:03 AM
The 2023 crypto market in five charts

The crypto industry saw plenty of events this past year. We've selected five of the most illustrative charts to show what the year looked like.

The rise of Bitcoin. This year, Bitcoin's market capitalisation jumped 172%, outpacing altcoins by almost double in terms of growth rates. The autumn saw strong momentum when the last arguable obstacle to approving spot ETFs in the US collapsed. On 13 October, the deadline for the SEC to appeal Grayscale's decision to convert the Bitcoin trust fund into a spot ETF expired.

(https://steemitimages.com/p/LcTxR7u1XKaa3e4T1EBuBP18JezPvjFFo8gNuE9CiKHBn2bYvyu392gLkNCQG6SvQHLzMpeBoag22uXvKVyL55Jhe8EFt2dnn4XfurumFNF8rvdPLNzWCd2KJdnYQJZENpmdnCo4D9dc7TGmSRo5N7Ms4?format=match&mode=fit&width=640)

Institutional capital inflows. October saw another turning point in the futures market when open interest on the CME exceeded open interest on Binance for the first time. The Chicago Exchange is now headed towards breaking the all-time high of $5.5 billion set in October 2021. All of this shows the genuine interest of institutional capital in cryptocurrency.

(https://steemitimages.com/p/LcTxR7u1XKaa3e4T1EBuBP18JezPvjFFo8gNuE9CiKHBn2sPgw7FNW14Bt35T9TfdfEp61qV7K8qxu2YMZMWRT8Ny6gVcbFmYgmjaCRRqM4YtzWxJKn82QL8aK1xW4z5W6i3HBK9kGCK9RLPBmRjcW26i?format=match&mode=fit&width=640)

BUSD's decline. US regulators' displeasure with Binance resulted in claims against the issuer, Paxos, for minting the third-largest stablecoin. It was the most stable coin of all, according to S&P Global. At its peak, BUSD's capitalisation exceeded $20 billion, and its monthly turnover was $200 billion. Binance has already stopped supporting the coin, and Paxos will halt operations in February 2024.

(https://steemitimages.com/p/LcTxR7u1XKaa3e4T1EBuBP18JezPvjFFo8gNuE9CiKHBn49FpLQ7u2u7LEn6Yu9r62ZnHv47RrWdBCMUb7TiCrLSkrHJntLdExBaL7ngC6sMJvicZczHbSMcNQGprtARt8CBvD2SGw7cFSgqhbFUxsxES?format=match&mode=fit&width=640)

Ordinals. In February, Casey Rodarmor presented the Ordinals protocol, which allowed digital objects to be exchanged over the Bitcoin network. The innovation later spread to other networks. At first, users were interested in images, but since May, interest has shifted towards quasi-tokens. There are now between 180,000 and 360,000 transfers per day involving Ordinals. As a result, the total number of transactions in Bitcoin (and not only in this network) has reached all-time highs.

(https://steemitimages.com/p/LcTxR7u1XKaa3e4T1EBuBP18JezPvjFFo8gNuE9CiKHBn5tP3myfv4JUBQac3yFXXwFMEzJot75jjyRJjiTrA31woDTN5qpce71JFN7cVpyQ7fAkqBqmNFKvgHwZWFWdWfiTj5SB3Wn8eMXkkDVmDnDZp?format=match&mode=fit&width=640)

Growing acceptance of Bitcoin in 2023. Over the past 10 years, the cryptocurrency has been deemed dead in the media and labelled a pyramid scheme or a scam the least number of times. Delving into the details, Bitcoin has increasingly fewer obvious opponents.

(https://steemitimages.com/p/LcTxR7u1XKaa3e4T1EBuBP18JezPvjFFo8gNuE9CiKHBn5SLFmpEcTycGAcuWDXUaGTc54ZUEDWzcHQ3uVNvTXFbMJnkMT6GUZUUyhL4J9iZzyk4XfKabV5theiEtGmhBBZTmctfYt4nBG5oGqEC3K1Qa?format=match&mode=fit&width=640)

Recognising Bitcoin as an investment asset, prominent financiers such as Larry Fink, head of the world's largest investment company BlackRock, and Stanley Druckenmiller, one of the world's most effective money managers, have spoken out in its defence this year.

(https://steemitimages.com/p/LcTxR7u1XKaa3e4T1EBuBP18JezPvjFFo8gNuE9CiKHBn3SFeFjQaE2rpDsWv9a8fkaWa5TDaTQrKK3jWNYjgasgThqjexfjSbawQt4JpNXk7TpTDPFdgnfyZNfVpE6widnakAUx8Gkb83gy7zNnbJt3Y?format=match&mode=fit&width=640)

This year turned out to see a host of events that, for the most part, were positive for cryptocurrencies. The new year, 2024, is expected to be no less exciting.


StormGain Analytical Group (https://stormgain.com/)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on December 29, 2023, 11:27:17 AM
Bitcoin sets new all-time record for transactions

On Christmas Eve, users completed 723,000 transactions, setting a new record. Transactions involving Bitcoin ordinals accounted for 440,000, which represents 60.8% of the total.

(https://steemitimages.com/p/9vWp6aU4y8kwSZ9Gw15LFL3aMdhmgmBBFMpDJregpdP328D1nkqcgY3tB56dm3afRam6q66WEWHES3KfMhz9mu7mjZZv6NyL8EiQTbu1xEyeeQuwSXamFCjqPXtPxbrr7F47Q81d5Kzy4HxHU?format=match&mode=fit&width=640)

It might appear that ordinals are primarily responsible for heavy network load and increased commission. However, this isn't entirely true, as quasi-tokens distributed over the Bitcoin network use the JSON text format, which takes up little space. Because of this, a single block is densely packed.

Note: Ordinals are digital assets that come in the form of images, video, audio files (ERC-721 analogue), or quasi-tokens (ERC-20 analogue). The speculative hype surrounding quasi-tokens has seen them take up a 90–99% share of all Bitcoin ordinals transactions on the BTC network.

(https://steemitimages.com/p/9vWp6aU4y8kwSZ9Gw15LFL3aMdhmgmBBFMpDJregpdP328v83RZ6cNoRJf3B9aXKGbx7EkLa6JCk8N9DLuB2gij9exJuDmiz8VXnAAhpomhtk9uXFdYtoQaBbATSxx65N4c1skEYKZWJc3NTp?format=match&mode=fit&width=640)

The Ordinals protocol was introduced in February, and the number of transactions since then has skyrocketed to new heights. That being said, Bitcoin ordinals have taken up no more than 20% of the block space since July, according to an analysis by Glassnode.

(https://steemitimages.com/p/9vWp6aU4y8kwSZ9Gw15LFL3aMdhmgmBBFMpDJregpdP328Y5oFvBaKAXGe3ACMLTwCcwCKSAPK8r47ZfcnqESa3mspmpvSVtKCUJ3vJgtrDinECRKwBwBBQv1YroGNcoduwyEft86DsLg25uQ?format=match&mode=fit&width=640)

In other words, the lion's share of transactions are now financial, and the Christmas Eve flurry of activity can be attributed to the desire to send Bitcoin as a gift to family and friends.

(https://steemitimages.com/p/9vWp6aU4y8kwSZ9Gw15LFL3aMdhmgmBBFMpDJregpdP328w25ReFywfccUexwG5pvruTTXebRR2dfjTRYW65VesUu2sfe7CaJcURQFpjgw9U9wAD3MKxxB1c83HeBTGGZyJ3Aw4ik8kymXXLr?format=match&mode=fit&width=640)

A potentially wise decision in view of the upcoming introduction of spot ETFs in the US and the rally which is expected to ensue. Fox journalist Eleanor Terrett reported on X (formerly Twitter) that the SEC has set December 29 as the deadline for issuers to file their final applications with any amendments incorporated.

(https://steemitimages.com/p/9vWp6aU4y8kwSZ9Gw15LFL3aMdhmgmBBFMpDJregpdP329mDMDfEnXHSRKjGJix5kFLMNHa1rNmpP5CCnfrx9Tm5DsjSJovYYKgPWrPzwfFcM5pWsdBGgXrm9g7rPfCnq8Cw4JuKXo26yXxAJ?format=match&mode=fit&width=640)

If this plays out, then the chance of seeing ETFs arrive next year has greatly increased.


StormGain Analytical Group (https://stormgain.com/)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on January 10, 2024, 08:45:12 AM
First date for potential approval of Bitcoin ETFs on 10 January

Tension is growing in the crypto market as the final deadline for reviewing applications to launch spot ETFs in the United States approaches. The predominance of bullish leveraged positions in the futures market has led to funding rates increasing to record levels over the past year.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSu6SxKkLFEKK4WRzV8ZZvRuf999LDbvgrZLvmmSw3m5ZXjFcavrXGqGrJQZiZDBBYfXen?format=match&mode=fit&width=640)

The market heat-up caused increased volatility, while a price drop led to a cascade of marginal positions being liquidated. On 3 January alone, over $0.5 billion worth of bullish positions were closed.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSiFGjzo4G23ys6TEEQNjsGhoJCP8qSE1i74z2CQohH9b5uYxT31JRtYLPza6XXwoPJqBU?format=match&mode=fit&width=640)

Bitcoin only needed a few days to recover from the wave of sell-offs and overcome the local resistance at $46,000. We warned about the coming increase in volatility in our last article for December.

(https://steemitimages.com/p/7b4bio5hobgskW8qdPdvSqcwwJTvbiCMpGmRey1Rtd8H5qeyPVt9cgfNh1koNAoVFMuxrYroAmd8E4KFnt7oqWe9pDSsMtc9fpZtMSRQ8fw6HCF9Shg4XPkhym4S38Wy8i5x2SWNgD7k1mH1qvLNw9dwmWer?format=match&mode=fit&width=640)

The excitement was caused by the approaching appearance of spot ETFs that will open broad access to institutional capital for the cryptocurrency. The exchange-traded funds could be approved as soon as 10 January, which is the deadline for the SEC to review the joint application from ARK Invest and 21Shares. If the regulator wants to reject the application, it needs to provide compelling arguments, something that won't be so easy given its loss on Grayscale's appeal last year.

Former SEC Chairman Jay Clayton recently said:

"I think approval's inevitable…and I think there's nothing left to decide."

This opinion is shared by institutional investors who invested $151.4 million in crypto in the first week of January, 74% or $112.6 million of which went into Bitcoin funds.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYScadZvVJw6gXyH1FsVQt7hvDq2FNK9FRQQD7wMmg8EVjUr7xojq6QFCKWgEDH3wzX9LBx?format=match&mode=fit&width=640)

A new warning from the SEC to potential investors hints at the imminent emergence of ETFs:

"You may see your favorite athlete, entertainer or social media influencer promoting these kinds of investment opportunities. Although it's tempting, never make a decision to invest based solely on their recommendation."

Despite all the signs that the applications will be approved in 2024, investors should remain cautious. The first important date is 10 January, but it's not the last: The application from ARK/21Shares could be found to contain mistakes, and a rejection from the SEC would set off a new way of turbulence.

(https://steemitimages.com/p/2gsjgna1uruv8X2R8t7XDv5HGXyHWCCu4rKmbB5pmEzjYSe1WFgHGN336Rik53LejPFT4EhH2GE54R79UxTdf3EmwkARVXfcBqehXSU7pUmkoL3gNi?format=match&mode=fit&width=640)

The deadline for most applications is in mid-March. That includes the application from the world's largest company in terms of assets under management, BlackRock.


StormGain Analytical Group (https://stormgain.com/)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on January 11, 2024, 10:03:34 AM
Open interest in Bitcoin on the CME sets new highs

Today is the deadline for approval of ARK Invest and 21Shares' joint application to create a spot Bitcoin ETF. Investment interest in this event is so strong that the total volume of open Bitcoin futures contracts on the Chicago Mercantile Exchange (CME) broke the high previously set in 2021. That figure is now $6.3 billion.

(https://steemitimages.com/p/JvFFVmatwWHRfvmtd53nmEJ94xpKydwmbSC5H5svBACH7yDoPB8C8kt56RXWpkdXFURpjyQqKgVdBAeoxvwgLye9xWjXWw4MYt92BsNgPNjNMMGd1P4DkpKEQTZy8bUkXPjsiNkbx2?format=match&mode=fit&width=640)

The likelihood of spot ETFs being approved in 2024 has increased dramatically following the SEC's loss on an appeal brought by Grayscale. The regulator banned the conversion of a trust fund into a spot fund, and the court ruled that the SEC's decision was "arbitrary and capricious". The appeal period for that decision expired last October, so it was only a matter of time before spot ETFs were approved.

Since week 40 (early October), inflows into existing crypto funds with Bitcoin worldwide have exceeded $1.6 billion. This compares to a modest $388 million for 2022.

(https://steemitimages.com/p/JvFFVmatwWHRfvmtd53nmEJ94xpKydwmbSC5H5svBACH7ycWH7sextHpkUdDTXkHodbtze7AhaJdPQxMhEWiQ2qZB296hm8H5keUuc3JC4SDKKf2X1Y3DcnHGMzBwi2JxjmBjRpuiv?format=match&mode=fit&width=640)

Galaxy Digital estimates ETFs will raise $14 billion in the first year. Standard Chartered (SC) claims that this amount will reach between $50 billion and $100 billion. Such an impressive influx of funds will inevitably lead to an increase in Bitcoin's price. SC estimates that the price will rise to $100,000 by the end of the year.

(https://steemitimages.com/p/JvFFVmatwWHRfvmtd53nmEJ94xpKydwmbSC5H5svBACH81i11SsjYsexjCf3FUtnY1Xiik7qrcSn48y9wyy3nwtATeX87JiRngcty83tpqSKuJ77pPG9UmPPj2EPCPBmzyz2VT6YVC?format=match&mode=fit&width=640)

Therefore, speculation around the launch of ETFs is causing increased volatility and unwanted excesses. For example, in the early morning hours of 10 January, the SEC's X (former Twitter) account was hacked, and a post about ETFs being approved appeared. Bitcoin reacted to the news by rising to $48,000. However, within an hour, it rolled back after a denial was published.

(https://steemitimages.com/p/JvFFVmatwWHRfvmtd53nmEJ94xpKydwmbSC5H5svBACH81CBfBcRTtU4X6FxRUtKJ6v8RNvG3VKHrckYNUTUC9oqJMHRSk7R9rCm5EJyyWw9iuD4hZvNaYNW4cu1Z2ZfWfdPxwvR3C?format=match&mode=fit&width=640)

K33 Research warns that Bitcoin might even decline after the long-awaited ETFs are approved. The fact is that 43% of the $2.7 billion in CME futures contracts are held by futures ETFs, which will face significant outflows in favour of spot ETFs due to higher costs. The large-scale closing of positions will put pressure on the price until capital flows into new ETFs.

Whales who prefer to dump reserves on big positive news may also add some pressure. All of this promises increased volatility when spot ETFs are approved, but the long-term outlook remains positive.


StormGain Analytical Group (https://stormgain.com/)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on January 12, 2024, 09:12:52 AM
SEC: We approved ETFs, not Bitcoin

The first application for a spot ETF submitted to the SEC was from the Winklevoss twins back in 2013. It was rejected in 2017. Despite the time that's passed, the regulator's views on the nature of digital assets haven't changed in the slightest. Here's the statement that accompanied yesterday's approval of ETFs (the full text of the statement "https://www.sec.gov/news/statement/gensler-statement-spot-bitcoin-011023"):

"…bitcoin is primarily a speculative, volatile asset that's also used for illicit activity including ransomware, money laundering, sanction evasion and terrorist financing. While we approved the listing and trading of certain spot bitcoin ETP shares today, we did not approve or endorse bitcoin".

The statement's overall message boils down to this: the SEC would have continued to block the emergence of the investment product if it hadn't been for the judges' particular interpretation of securities law. However, continued rejection would be impossible given the court's ruling in Grayscale's favour in a case about converting its trust fund into a spot ETF.

(https://steemitimages.com/p/vM1pGHgNcyCXUWJECrZbvn1NMPj1oFGUo3gYfF3NNPRD9X6qHyUmQDCnCY9y6NQEvS1X8QsbYmTANQkLeZFha3g9QoA69C8jc9sUiiJfCgkc87eLgDdACU9bV1kPFCmM8DPUSES?format=match&mode=fit&width=640)

The interpretation of the cryptocurrency's status is of great interest to investors. The SEC still refers to Bitcoin alone as a commodity, while "the vast majority of crypto assets are investment contracts (i.e., securities)".

In other words, hopes that spot ETFs for Ethereum and other cryptocurrencies will soon emerge are baseless. However, some media outlets attribute Ethereum's surge over the last 24 hours to this very hope.

(https://steemitimages.com/p/vM1pGHgNcyCXUWJECrZbvn1NMPj1oFGUo3gYfF3NNPRD9afFKWXVXUo4bMLZHhyr2aXqAWqEnHA9fia1QqLVXvgrvk9MJCsD5ZoRNR6w3BpXHWKCzPD9FXKAcVugE8Tv48Z5sAN?format=match&mode=fit&width=640)

It'll take time to assess the real effect the launch of the spot Bitcoin ETF has had. The funds will take about a week to be listed on exchanges, and figures on investment volumes will start coming in in about a month.

Currently, 11 ETFs have been approved, including ones from BlackRock and Fidelity, each of which manages over $10 trillion in assets.

(https://steemitimages.com/p/vM1pGHgNcyCXUWJECrZbvn1NMPj1oFGUo3gYfF3NNPRD9VFhmNMufAoqfc49sHGTrJZRJQHK1ZHMVADkxryqHjDs6Eim2vAesL6smJutuarCucYXhVFS7cV5PRzbAxWJoDyn73L?format=match&mode=fit&width=640)

For an idea of potential capital inflows, the US saw $1.2 trillion invested in various ETFs over the past two years. Even if a tenth of that is redirected into Bitcoin, it would create powerful price momentum. Many analysts compare the expected outcome of the emergence of these Bitcoin ETFs with the gold ETFs launched in 2004. In seven years, the price grew four-fold, with over $100 billion being held in gold ETFs.

The majority of estimates think that Bitcoin will hit an all-time high as early as this year.


StormGain Analytical Group (https://stormgain.com/)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on January 16, 2024, 08:11:55 AM
Miners selling record volumes of Bitcoin

Miners have played out the classic "buy the rumours, sell the facts" scenario. In the three days since spot Bitcoin ETFs were approved, miners sent 111,000 Bitcoin worth $5 billion to crypto exchanges. The highest volume over the past six years was set on 12 January, when crypto miners transferred 61,400 BTC.

(https://steemitimages.com/p/W5LtFUPm6g7111bbdcuxu3bfUg5qaCq8seb5paCtrrT7zRAwxjc8kznmqGaczeYEAkVrmbyGxUv5krnRwXVnBZ344ybE6n1DwHAqbPKErnN5h2SUYZxJN4aGaRvikuiKQSzXV9kH3WeMzDZC2LLR3URX3Evj8?format=match&mode=fit&width=640)

Miners send coins to crypto exchanges to then sell them. This huge outflow is due to fears of the upcoming halving. The event that halves the reward for mining a block may come as soon as April.

(https://steemitimages.com/p/W5LtFUPm6g7111bbdcuxu3bfUg5qaCq8seb5paCtrrT7zPgdBeVDjprJ8fBTrqc6v2VxatnS9c6XcYLhX8HykSNp9WjiGdCxSTUA4rTMZsnoj3peqiw9Sf8kkvT4CUvs4cnZFf2xNu65acHdwGYw6JD1nSLoQ?format=match&mode=fit&width=640)

The average cost of Bitcoin mining, according to the MacroMicro portal, is $46,500, while the market price of the cryptocurrency is only $42,700.

(https://steemitimages.com/p/W5LtFUPm6g7111bbdcuxu3bfUg5qaCq8seb5paCtrrT7zMxsZpjYm3Ud625X9VMm7kvvs5n13wrvAsJBkjcHwAPgr8vVXvPTVtdc6foRU3PxWjcvVFEvsTEC3P4J7XueKhiJ4jkwy9sPxgMtT8McX3Xa7JXzW?format=match&mode=fit&width=640)

On average, mining remains unprofitable due to extremely high competition. Large miners are actively increasing mining capacity and looking for ways to reduce costs. When weak companies become unprofitable due to growing losses, their capacity is bought up by more efficient competitors.

(https://steemitimages.com/p/W5LtFUPm6g7111bbdcuxu3bfUg5qaCq8seb5paCtrrT7zMY19NPwPrcnH26BctBcAJbTeGyhJJE3wZxJETnTHMaspsbRoQKEL6Zq2YP2tfWCqR4xfA84WbaD7LGub4zfrxt52yq3q6UExLzkWX9JUNUq1r3vv?format=match&mode=fit&width=640)

Electricity accounts for around 70% of all Bitcoin mining costs. As a result, mining companies either switch to alternative energy sources or move to regions with low electricity costs. TeraWulf's direct connection to a nuclear power plant in the US without dealing with distribution grids can be considered one of the best solutions so far. This allowed the company to lock in a rate of $0.02 per kWh for five years.

CoinShares analysts have calculated the cost of crypto mining for the top public miners. Only five out of the 14 companies examined will have a cost of production below $40,000 per coin after halving.

(https://steemitimages.com/p/W5LtFUPm6g7111bbdcuxu3bfUg5qaCq8seb5paCtrrT7zNca5xrUmLY38YAqtwPvNtFs8kcbZW1DTNUCS4YZqDLiXzAjxScUK8HQNYCuoLC2AKcDcMY6gFsHEwdpxvu1P4bosBe2uaGVKKYeciqqus1ZA9FMQ?format=match&mode=fit&width=640)

The vast majority of them continue to build capacity in hopes that the cryptocurrency's price will rise. In their investment estimates for 2024, the price of Bitcoin is in the range of $60,000-100,000. If the forecasts don't pan out, a lot of negative shocks await miners this year, and all newly mined coins will be sent directly to crypto exchanges.


StormGain Analytical Group (https://stormgain.com/)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on January 17, 2024, 03:23:33 PM
Crypto funds set a record turnover of $17.5 billion

The first financial statistics on Bitcoin ETFs launched last week in the US have been released. New records were set: the total trading volume of new and existing crypto funds for the week reached $17.5 billion, with an average of $2 billion. However, the inflow figure failed to beat the effect of the launch of a futures ETF in the US in 2021, when the numbers were $1.2 billion and $1.5 billion, respectively.

(https://steemitimages.com/p/vM1pGHgNcyCXUWJECrZbvn1NMPj1oFGUo3gYfF3NNPRD9THXRzXBMdCvHr8xQwrZed3NzNFiMQWkefhmmD1SW6N6b9BvVNRcWCqUuFVzmagGRwV8ze4KMKrH69PCLx9Maj5EkMC?format=match&mode=fit&width=640)

Among the approved ETFs, the one from BlackRock, the world's largest company by assets under management, predictably saw the highest rise. In just two days, it raised $0.5 billion in investments. Grayscale, on the other hand, showed an outflow of $0.6 billion.

(https://steemitimages.com/p/vM1pGHgNcyCXUWJECrZbvn1NMPj1oFGUo3gYfF3NNPRD9W1DPJFMeNH1cEa7AnTtpjFMpWmjRmtZXKQfow1FXGtwpnZrp9HpXywcnft9KxX3GiyHKsFN5WfTrG6NBoFtfXFBywU?format=match&mode=fit&width=640)

It's worth explaining that Grayscale, unlike other participants, started this stage with 618,000 BTC (~$28 billion) on board due to the transformation of its trust fund into a spot ETF. Such an impressive margin tempted the company to charge the highest commission of 1.5% for management services. Outflows into lower-cost ETFs are likely to continue in the long term.

(https://steemitimages.com/p/vM1pGHgNcyCXUWJECrZbvn1NMPj1oFGUo3gYfF3NNPRD9Uor5BUDtFPB8Ge4t7yeQZdpXZkxav9QpdkwZPcd13wVpXYFgMRqSug1mHxyMMfygS1uCQmkTXT5XethXJ8nYP9ySai?format=match&mode=fit&width=640)

Looking at last week's inflows by asset, $1.1 billion came from Bitcoin, with Ethereum coming in second with $25.7 million.

(https://steemitimages.com/p/vM1pGHgNcyCXUWJECrZbvn1NMPj1oFGUo3gYfF3NNPRD9WKa4nS3SWFPzhVzjXBu8rfdAyARbaf1U3oFnrAT8tBXMmwJ6hWusJMovBrJP3EFVMcq9kvFhfYUXe97euyJsENuDcz?format=match&mode=fit&width=640)

For 2023, inflows into the altcoin look extremely dim, with $78 million, half the size of Solana ($167 million). The low demand for Ethereum from institutional investors is due to attacks from the SEC, the forced withdrawal of several US cryptocurrency exchanges from staking, and the significant lag in momentum behind Bitcoin.

Last week, BlackRock CEO Larry Fink drew attention to the altcoin by announcing his interest in the emergence of spot Ethereum ETFs.

(https://steemitimages.com/p/vM1pGHgNcyCXUWJECrZbvn1NMPj1oFGUo3gYfF3NNPRD9bU2MbRbpmcBn2WGtYpzNQLKtGCtarVpxDatv4uye8NNJB1iNi9gkXCyDgbSbwAgH1eoZmad4CdtjxC9HbGLEjgnAtW?format=match&mode=fit&width=640)

However, investors should take into account the words of SEC Chairman Gary Gensler. In the accompanying letter to the approval of the ETFs, he noted two important circumstances: the regulator considers Bitcoin to be a commodity only and was forced to launch crypto funds by a peculiar interpretation of the law by the courts (meaning the SEC's loss in Grayscale's appeal).

All of this makes it unlikely that spot ETFs for any altcoin will appear in the US in the near future.


StormGain Analytical Group (https://stormgain.com/)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on January 18, 2024, 09:04:24 AM
Factors for Bitcoin's fall

The approval of spot Bitcoin ETFs in the US was a major step towards institutionalisation, but it caused Bitcoin to fall 14% from its local high. We warned (https://stormgain.com/blog/etf-approval-will-trigger-bitcoin-fall) about such an outcome back at the end of the year. There are several objective reasons for this, which are worth outlining.

High expectations

Bitcoin's price rose 2.5 times in 2023, and much of the growth came in the autumn when the emergence of ETFs became inevitable.

(https://steemitimages.com/p/cyxkEVqiiLy2ofdgrJNxeZC3WCHPBwR7MjUDzY4kBNr81QtYfFTz4DF5M7Cx79TxTUwaxmzyhF8EW28juvZE2zedyUsE6fGUqx348oxcKZNAWotLR1vsTw94ZA7E4Qz98TQ?format=match&mode=fit&width=640)

This has led to a significant increase in unrealised gains among short-term holders (STH), who are characterised by a rapid mood change and a desire to take profits at the first signs of a correction.

(https://steemitimages.com/p/cyxkEVqiiLy2ofdgrJNxeZC3WCHPBwR7MjUDzY4kBNr81R7sLbB9n3wq1QtQVdS8ALuBfJdMeBFULCVKosP1k7NLVAbD6PxRU4SfXBJoc1Ru4uAYecfB9ombgqZYsC1bLRU?format=match&mode=fit&width=640)

Derivatives traders can also be considered STH as they actively increased their purchases as 10 January approached. The funding rate clearly demonstrates this. Its growth indicates the prevalence of bulls over bears in open futures contracts. As hopes for Bitcoin to skyrocket with the emergence of ETFs failed to come true, the bulls rushed to the exits at the first signs of a correction. The rate is now close to neutral.

(https://steemitimages.com/p/cyxkEVqiiLy2ofdgrJNxeZC3WCHPBwR7MjUDzY4kBNr81MT5tTEsDWRhYFdcPHoJQ9UMjrmYdtphpYvgxzgAwjXm8kH7XeMJmKP4hr8H6i1ihfJWMFyewTg7tSLCAEGP5ok?format=match&mode=fit&width=640)

Sluggish start

The emergence of spot Bitcoin ETFs didn't stir markets. In the first two days, they attracted only $1.2 billion in investments. Compare that to one futures ETF that recorded a $1.5 billion gain in 2021. The weak performance is also evidenced by relatively low trading volumes in both the spot and derivatives markets.

(https://steemitimages.com/p/cyxkEVqiiLy2ofdgrJNxeZC3WCHPBwR7MjUDzY4kBNr81Mink1N2jNbAjyS3LWrwMMtM2NfWsAJrbttHYp8KJHtd3fTSraactw4m6VJk96KAuvrTKjFvJyKaYGZ7tE2eNWi?format=match&mode=fit&width=640)

Capital shifts

The emergence of ETFs caused a capital shift among funds. Grayscale was converted from a trust fund, so it started with 618,000 BTC. What's more, the company has the highest commission for managing assets. Its 1.5% fee led capital to flee. In recent days, around 10,000 BTC (~$430 million) has been transferred to Coinbase to be subsequently sold. With the start of the sell-off, added pressure hit the market.

(https://steemitimages.com/p/cyxkEVqiiLy2ofdgrJNxeZC3WCHPBwR7MjUDzY4kBNr81MkWbDLSx4WMHjjmxgj7pHpcK78yG4wpLgZroRhDyXFHTGEt9d4Kz8jitZWF4Yk3VjDS3sWxzomsijYWQLopHSe?format=match&mode=fit&width=640)

A similar pattern is seen with outflows from futures ETFs, as switching from contract to contract imposes additional costs on investors.

(https://steemitimages.com/p/cyxkEVqiiLy2ofdgrJNxeZC3WCHPBwR7MjUDzY4kBNr81RfJJS6og8XkWqdBavz974o89FUUoVeMi1DD9JsqHDZsFwYFWZQyf661fpYfBiPDAKFT4f3QYHDepwhFXJ2zJqC?format=match&mode=fit&width=640)

Miners' sell-off

Miners followed the classic "buy rumours, sell facts" technique and sold off 111,000 BTC worth $5 billion in the first three days after the ETF launch. Whales joined in, too. The number of addresses with over 1,000 BTC dropped from 2,024 at the end of last year to the current level of 2,015.

(https://steemitimages.com/p/cyxkEVqiiLy2ofdgrJNxeZC3WCHPBwR7MjUDzY4kBNr81QdMW6shLitZberxe3Gv976yuMt48eTBFfcu948gfY4voqLRrop65tPHS98SD48tTTfnmZbx4BGi2o8J3rhU7FC?format=match&mode=fit&width=640)

As we can see, some market participants used the ETF hype to sell part of their assets, while others fell victim to high expectations. However, the above factors in no way diminish the significance of long-term trends and the emergence of exchange-traded funds.


StormGain Analytical Group (https://stormgain.com/)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on January 19, 2024, 10:18:09 AM
TUSD loses its peg to the US dollar

The stablecoin market has seen better days and is still suffering from the collapse of the UST stablecoin. The total capitalisation for stablecoins has gone from a high of $188 billion at the beginning of May 2022 to just $134 billion now.

(https://steemitimages.com/p/vM1pGHgNcyCXUWJECrZbvn1NMPj1oFGUo3gYfF3NNPRD9VwEQLzp8bibpmPBhZoUrJJ1Z3vYdcanv3GCzxFF94p45ZqgAAunDmFXuoF5PbptNBLiqz4DxuJFVGtzfRpnNGfJhWE?format=match&mode=fit&width=640)

This time, the fifth-largest stablecoin TrueUSD (TUSD) from Techteryx, a British Virgin Islands-registered company, is facing shocks. Its rate was down to $0.97 on most crypto exchanges yesterday and dropped to as low as $0.92 on Poloniex two days earlier.

(https://steemitimages.com/p/vM1pGHgNcyCXUWJECrZbvn1NMPj1oFGUo3gYfF3NNPRD9VYDpN5bn6rQGBHsaVwAtncvhjytUbnwDmvpyWdLojRNtDvkcXUdivpFhGRpJfKUZrThdJSTxGBAbdWJTKGLLkFfaDU?format=match&mode=fit&width=640)

Despite its $2 billion capitalisation and seven-year history, TUSD is surrounded by scandals and unexpected twists and turns. For example, its capitalisation soared from $1 billion to $3 billion thanks to Binance, which introduced zero fees on it in March 2023.

Six months later, the cryptocurrency exchange cancelled the beneficial terms for TUSD after a major unpegging from the US dollar took place in June. Since that time, the coin's capitalisation has gone down.

(https://steemitimages.com/p/vM1pGHgNcyCXUWJECrZbvn1NMPj1oFGUo3gYfF3NNPRD9Tbn9nv8c6JhkX3i5t37eDVRQAV5Tda9751NHHStBLDoPXEpNLPaz9DmycymBDoTaYFZSBxytua6UWr3JiWZvrfDNdk?format=match&mode=fit&width=640)

The reason for the rate volatility in the summer was the filing of a lawsuit by TUSD founder Archblock (Techteryx acquired the business in 2020) against Justin Sun, in which the latter is accused of secretly accumulating a significant amount of TUSD for subsequent market manipulation.

It's worth noting that $1.5 billion of the current $1.9 billion capitalisation was minted on Justin Sun's TRON blockchain.

(https://steemitimages.com/p/vM1pGHgNcyCXUWJECrZbvn1NMPj1oFGUo3gYfF3NNPRD9Te5x26u3GeU9LJ57zysqJZrBbtameXgNRwecbCk6JXmN7dHyNg6FhJmnrPGAPfv12A4mroo7aQmZWhtYTUo4dSXbYS?format=match&mode=fit&width=640)

In the same year, TUSD faced a massive sell-off due to criticism of the lack of transparency of reserves and community suspicions that there were none after a widget on the official website malfunctioned. According to Binance, the outflow of funds exceeded $40 million on 15 January alone.

(https://steemitimages.com/p/vM1pGHgNcyCXUWJECrZbvn1NMPj1oFGUo3gYfF3NNPRD9Tbnuz1NPSq5Vuk5Bkxv76C3GWtcJsa4apekaRVhLeGs1RiACAqh3Hrq5wPzpvqGZhpyxeqNEREw3eaY5Ev7eKSL26S?format=match&mode=fit&width=640)

Panic was fuelled by rumours about the inability to deposit/withdraw TUSD from Poloniex, including for arbitrage trading. This was the reason for the exchange rate's decline on 16 January to $0.93 exclusively on this platform. Earlier, Poloniex was acquired by Huobi, in which Justin Sun is the majority shareholder.

In both cases, the loss of confidence in the coins involves Justin Sun to some degree. He undoubtedly has the financial means to support the rate directly if he wanted to. For now, he denies all accusations of involvement in the fate of the stablecoin. The TRX rate on the TRON network wasn't affected by the events.

(https://steemitimages.com/p/vM1pGHgNcyCXUWJECrZbvn1NMPj1oFGUo3gYfF3NNPRD9U1bs5VTy4cHzSXM53AxNdhzLm3mGnt2U2uf9RBQXyzCdasoCjgkhJuu7D6DDejJf5pvBBW6afg6f9byZByxjsh9HPk?format=match&mode=fit&width=640)

However, given all the twists and turns, market participants should be extra cautious when using TUSD. Last year, S&P Global released a stablecoin rating that ranked it last along with FRAX.


StormGain Analytical Group (https://stormgain.com/)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on January 22, 2024, 08:40:12 AM
Illegal crypto transactions make up 0.34% of total volume

This week, JPMorgan CEO Jamie Dimon cited money laundering, fraud, tax evasion and sex trafficking as key uses of Bitcoin. This assessment is typical for all fierce opponents of digital assets who consider the latter to be a tool used by criminals.

(https://steemitimages.com/p/5ShzsKnKF7vppGeV6VN3m3GSDcLoRruAhMmifZtFSDkYScYPh3q9ognHcS2vavt1hP2RV57u9atTttRGWBBeWrgirPv4uXRS1rmbigMSeb27eoisTHeP527o8vpFNbqqAEQnLFU4pLiTXfL2QNRjEZ3C?format=match&mode=fit&width=640)

However, a chain analysis of transactions of addresses flagged as suspicious by law enforcement suggests otherwise. Yesterday, the Chainalysis analytics agency released a report in which criminal activity accounted for just 0.34% of total transaction volume.

(https://steemitimages.com/p/5ShzsKnKF7vppGeV6VN3m3GSDcLoRruAhMmifZtFSDkYScFRmnr8YPNFCdXfWnpfcrb3ozqW9wTVpP3ETjwbxoxkyStLcbHEbCqCCyGGBdKx4s5UmsQqDZyFRHKTQVGuqYeaFDEKsMfRpdr3vcZUqwFt?format=match&mode=fit&width=640)

In absolute numbers, $24.2 billion worth of illegal transactions were made using cryptocurrencies in 2023.

(https://steemitimages.com/p/5ShzsKnKF7vppGeV6VN3m3GSDcLoRruAhMmifZtFSDkYScSd767ZpvUZELMFi7LS327uKLyE6dEh5REsNghpaiYxRN4CTiovJgHznKGK1hib4tP2fVfEBWKAGKN9s3k5xrXRgKQnPJYMimtQQJhfr8f8?format=match&mode=fit&width=640)

Of these, 61.5% of transfers worth $14.9 billion were made to evade sanctions. These are mostly addresses flagged by the US Treasury Department's Office of Foreign Assets Control (OFAC). This category grew significantly in 2022, when Russia rose to first place in terms of the number of international sanctions applied.

In terms of 'traditional' illegal activities, such as the use of malware or fraud, there has been a decline in transaction volumes since 2021. In 2023, the volume of the above-mentioned category decreased by 29.2%, while the volume of hacking attacks dropped by 54.3%.

Some pretty interesting changes also occurred in terms of cryptocurrency preferences. Up to and including 2021, Bitcoin accounted for most illegal transactions. Since 2022, however, it has ceded that title to stablecoins. The latter were mostly used to evade sanctions.

(https://steemitimages.com/p/5ShzsKnKF7vppGeV6VN3m3GSDcLoRruAhMmifZtFSDkYSczcmRdwFKxnAyNYP5idqSwuJQf49j3gio72RKWZ1LK7Tqqge4BQv5DP2k9boiT3sqwKCFKm6ertUqAJvFNm3qffY457PFCA6o6T6Q8jFQb8?format=match&mode=fit&width=640)

The recent claims by the UN Office on Drugs and Crime against Tether can be summed up as follows:

"Law enforcement and financial intelligence authorities in East and Southeast Asia have also reported USDT [or Tether] among the most popular cryptocurrencies used by organised crime groups..."

(https://steemitimages.com/p/5ShzsKnKF7vppGeV6VN3m3GSDcLoRruAhMmifZtFSDkYScYQad3oR4qpDV1nvFqPuGJj78DG7pQ6u8HBebNtWBUwAyFYX3o8reKY4yBu2B5h1q4VChC6mHKrMG2k7xJQj7kQN61ZwEyirevnL8rQBpDt?format=match&mode=fit&width=640)

Tether criticised the UN agency, hinting at its insufficient competence:

"The UN's analysis ignores the traceability of Tether tokens and the proven record Tether has of collaborating with law enforcement".

(https://steemitimages.com/p/5ShzsKnKF7vppGeV6VN3m3GSDcLoRruAhMmifZtFSDkYScFVDLy7HiCBsTBBc1VW3QaWYVxKbZrEBjJxnWbaBbMCqzFXgFSB6zXh9HCEt8A4aCM5M7EgqEag63c5ANb99cE6AVbcp3mmRyAGYyHDvXfC?format=match&mode=fit&width=640)

The company has repeatedly noted that it promptly blocks suspicious addresses upon receiving the first official request from law enforcement agencies. Currently, 1254 addresses that hold a total of $878 million are included on the stop list.


StormGain Analytical Group (https://stormgain.com/)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on January 23, 2024, 12:31:20 PM
Bitcoin outflow from Grayscale's fund exceeds $5 billion

The emergency of spot Bitcoin ETFs in the US is putting downward pressure on the crypto. The conversion of Grayscale's trust fund into a Bitcoin ETF, with over 620,000 BTC worth $28.6 billion as of the transformation date, was one of the key reasons.

(https://steemitimages.com/p/gPCasciUWmEwHnsXKML7xF4NE4zxEVyvENsPKp9LmDaFv5T3vcD59r54pBKQtuwHMNDKaY4mhXCJSBF21TDoW2V4EZo4wsapukAbZ3Hk2SZVUcACr4DpiSMqLuEbYoFnAhUrrG3X13UerbjWw8?format=match&mode=fit&width=640)

Now, the GBTC fund has $23.5 billion in its piggy bank. The outflow amounted to $5.1 billion or 18% over ten days.

(https://steemitimages.com/p/gPCasciUWmEwHnsXKML7xF4NE4zxEVyvENsPKp9LmDaFv4JzPqKpYkH7Ews3camN3e5oTXMv288FfNx2GDLFgX8Dkg75PCJeMLxcPVLgbUf15uWorbYjZh9ajbwGSEULA7zT8eYC39kN8ypxWa?format=match&mode=fit&width=640)

Last June, the discount on the fund's shares relative to the underlying asset was over 40%, but after Grayscale won its appeal against the SEC, it rallied sharply. Savvy players started buying up the fund's shares, investing about $3 billion.

(https://steemitimages.com/p/gPCasciUWmEwHnsXKML7xF4NE4zxEVyvENsPKp9LmDaFuyyiAkKxNBqys8BAaTZRpzJsUEMHn9iqYXForuxEfeNH9Qafgfrwa5RkrRcW2FN5HqyyASywga1xxAvKXhjc1bTeANxvzSzxKBtRkr?format=match&mode=fit&width=640)

This amount can be considered non-refundable, meaning it isn't driven by interest in Bitcoin directly but only by a desire to profit from the reduction in the discount due to the upcoming conversion.

(https://steemitimages.com/p/gPCasciUWmEwHnsXKML7xF4NE4zxEVyvENsPKp9LmDaFuzEgoErBid5qAvmQFRAHt3iWrWB5tkhwezyVF7gfyRo36jxG1RhW2xRe1ky1ENfU6QL2kTtRCRo8wLV26e7d7PzugRnyrkqtcAHiNr?format=match&mode=fit&width=640)

The rest of the outflow volume is due to the GBTC's high fees for fund management. The fees are way higher than competitors', coming in at 1.5% versus 0.2%-0.5% (excluding the free period). Note: Hashdex doesn't count because they were approved for a futures ETF, not a spot ETF.

(https://steemitimages.com/p/gPCasciUWmEwHnsXKML7xF4NE4zxEVyvENsPKp9LmDaFv4FXy4wWdhCAW7NgkxUe6i1u2dAheU9BF1vEmuUmAjRAftuVgRSg9GtywMgCYNYrJNdHMs8jrkj3ngYDMX4koBA4YSeqVnDEi4NLZc?format=match&mode=fit&width=640)

Grayscale CEO Michael Sonnenschein, defending the high fees, has said there is a risk of bankruptcy for most spot ETFs over the long run. He was supported by Quantum Economics founder Mati Greenspan: "Having a dozen ETFs for one asset is pretty ridiculous."

Based on the last six days, inflows into exchange-traded funds still exceed outflows from Grayscale by $1.1 billion.

(https://steemitimages.com/p/gPCasciUWmEwHnsXKML7xF4NE4zxEVyvENsPKp9LmDaFv5QWzzdR6UTxfKbnF1oVTpFUUNw6ckpzsWwRbb74yqB6kzQtk2ANRYBk7CB9NBsi1kdQJN4GZnsNoW1WQ3kaedZ45vpVqP3wEFWzdt?format=match&mode=fit&width=640)

However, this data doesn't consider outflows from futures ETFs of more than $3 billion since the launch of spot ones. Futures funds are more burdensome for investors due to losses when switching from contract to contract.

The dynamics of exchange-traded products are turning negative, which hurts Bitcoin. Miners also contributed, sending $5 billion worth of Bitcoin to crypto exchanges in the first three days after the launch of ETFs (read more here - https://stormgain.com/blog/miners-are-disposing-of-bitcoin-in-record-volumes).


StormGain Analytical Group (https://stormgain.com/)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on January 24, 2024, 08:35:25 AM
Cardano to disappear from the crypto environment

K33 Research, which predicted Bitcoin's fall after ETF approval, is now urging investors to sell off all ADA (Cardano) holdings. According to analysts, the former leading network is about to be gone for good. Currently, it's ranked 9th in terms of market capitalisation with $17 billion.

(https://steemitimages.com/p/9vWp6aU4y8kwSZ9Gw15LFL3aMdhmgmBBFMpDJregpdP329mCNMbcPA1SAvbFU41Qgs2wSf69UcVdj5vjpGmkcAgzGCKEKfuAD2wHh7XMPnRXzYFtSb6tPzBWUSzAHxcqVMuhMyJf563HCBaoQ?format=match&mode=fit&width=640)

Cardano's main problem is the absence of useful activity. The network doesn't support USDT or USDC, and the Djed stablecoin launched last year on the blockchain shows no signs of outer interest. In fact, capitalisation is even declining. Many transactions on the network are due to exchanges and "fabricated activity".

(https://steemitimages.com/p/9vWp6aU4y8kwSZ9Gw15LFL3aMdhmgmBBFMpDJregpdP328Y6cojtTFCRfnKH4zM4iRs6EGfEC77JKNNyTZJbWCAECGMaHbqAPNzsZ4wwtmyvFcAm2Vaa32x1dJoT5Xkx8ieUg6otqf99gmNKG?format=match&mode=fit&width=640)

According to K33, activity in the stablecoin market is one of the key purposes for smart contract-enabled networks. On this metric, Cardano's performance equals zero.

(https://steemitimages.com/p/9vWp6aU4y8kwSZ9Gw15LFL3aMdhmgmBBFMpDJregpdP329mDGwuxXhgxE3D3t1xUVi6iMYGNGM3RrHSYQGWPLWJEiJK3BoiizSaoFsgxCCfAEup2bNvzUka9fer8QqhyDw8JATpkvstaT9Rtz?format=match&mode=fit&width=640)

Without the support of popular stablecoins in the DeFi sector, the network is unable to show any meaningful results. In terms of total value locked (TVL), Cardano ranks 13th with $329 million. Comparatively, Avalanche has $777 million, and Solana has $1.3 billion. The latter two networks were officially launched later than Cardano but were ahead of the curve due to better solutions.

(https://steemitimages.com/p/9vWp6aU4y8kwSZ9Gw15LFL3aMdhmgmBBFMpDJregpdP328voE2dDe6otVadRKNnn13KN8tc7o4qG6if2CYvsBJzssXRX4k7v4bDRUKXxKXmkoVMhUDc3TQtw11SE3tCXPciwZYbzBPvDCpUX8?format=match&mode=fit&width=640)

The high capitalisation is due to previous hopes that the network would grow with the emergence of smart contracts. In 2021, it was ranked third in the overall ranking when talk of an "Ethereum killer" peaked.

But the reality was far harsher. As smart contracts were introduced, the network faced a monstrous overload due to a failed architecture. Since then, the coin has lost 85% of its value, and the chances of returning to the heights it once reached are close to zero.

(https://steemitimages.com/p/9vWp6aU4y8kwSZ9Gw15LFL3aMdhmgmBBFMpDJregpdP329eeJhB7nEsCLHfzwn47A9KMH541LCLGJdr83tXdVSG5VuPzN6hcdMuFHKPzMkrQ1BSXx2osiKodPppKVYx4P4oZy8gNySZS1uiwg?format=match&mode=fit&width=640)

Cardano is now doing well with smart contract processing, but the time to consolidate its position has long passed. Analysts at K33 believe that this blockchain is a bust and will soon join IOTA, NEO, EOS and Concordium on the list of outsiders.


StormGain Analytical Group (https://stormgain.com/)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on January 25, 2024, 11:13:28 AM
Bitcoin to fall as ETFs fail to create new demand

Economy Peter Schiff predicts that Bitcoin's price will fall further. He believes that the approval of ETFs isn't creating new demand for the crypto. In his opinion, investors who used to buy crypto on the spot market, shares of mining companies or Coinbase will now shift their investments to ETFs.

"Rearranging the deck chairs won't stop the ship from sinking".

Schiff believes that the fate of investors in the spot product will be similar to those who invested in the BITO futures ETF that launched in the autumn of 2021. Now, the fund's shares are trading at a 50% discount, which means Bitcoin is expected to fall to around $25,000.

(https://steemitimages.com/p/3jpR3paJ37V8JxyWvtbhvcm5k3roJwHBR4WTALx7XaoRovssbEAXB8kL99B9v8P2mnf8RpmGthe99gff6fb43pJ4bhTHt5xbRyfbbqQHxJH8iXTjKodrThHaHbJgLwyB4PiN2?format=match&mode=fit&width=640)

His words are supported by statistics on capital inflows into Bitcoin ETFs. Last week, the inflow shifted to a net outflow of $25 million. In comparison, investments in short ETFs (for which profit is made when the asset's price falls) increased by $13 million.

(https://steemitimages.com/p/3jpR3paJ37V8JxyWvtbhvcm5k3roJwHBR4WTALx7XaoRovcu2wqxsuTeHUPL2QB92KhAPXjumjEWdXc3d2BHSN54HJzTSktw2r4XBkv3WWF3iNuq4evJK9DeMQdYxkeMVH3Rp?format=match&mode=fit&width=640)

Without getting too into the weeds, it looks like investors became very disappointed by the crypto. The 20% drawdown also plays a role here for those who invested in the first days of the funds' operation. However, Bitcoin's fall can't be separated from the reasons for it.

Since the ETF was approved in the US, Grayscale investors, miners, FTX's bankruptcy trustee and short-term holders have triggered a sell-off. Collectively, they've dumped $20 billion worth of coins.

For example, traders made about $3 billion on Grayscale's discount (the securities were trading at a decent discount to the underlying asset in 2023). They aren't interested in Bitcoin as an asset. They just used the opportunity to make money. On the other hand, miners are concerned about the growing complexity and halving in April. Since 10 January, they've sent a six-year record of 355,000 BTC worth $15 billion to crypto exchanges.

(https://steemitimages.com/p/3jpR3paJ37V8JxyWvtbhvcm5k3roJwHBR4WTALx7XaoRovYCu44nYBcRHGSvKTqyy7FwXEX54VMdJZTDAymbRC3thUhk8qtzAuBX3hWystsCm64u8b3qS7NWBstsXcNjH6n2J?format=match&mode=fit&width=640)

In these conditions, $4 billion in demand for spot ETFs looks very modest and can't compensate for the resulting outflow of funds from the crypto sector. That's why the ETF launch caused the asset's price to drop.

(https://steemitimages.com/p/3jpR3paJ37V8JxyWvtbhvcm5k3roJwHBR4WTALx7XaoRovdxZExQkFMDxrbjqd5ummhfnn94PUR3oXDTS23Eevk5NkW94iuZGuV6Nrz8mZNW6y6WKDeRKGvb692aXi1URiU6r?format=match&mode=fit&width=640)

At the same time, one should consider that the resulting pressure is primarily due to temporary factors, while long-term trends are still on Bitcoin's side.

(https://steemitimages.com/p/3jpR3paJ37V8JxyWvtbhvcm5k3roJwHBR4WTALx7XaoRovWv1AmGW4zYBKGH7atbfPk9Z1i51mVRKK7ShRDQ7wuQE5QwFzgrw1bqH8z9EQLZXyWKDEgeKGjcbgmpQ7mBFnQEJ?format=match&mode=fit&width=640)

For example, the share of coins that have been idle for over a year has been growing since the autumn of 2021. The figure is at a record-high 70%. More and more people find Bitcoin to be a suitable savings tool. The emergence of ETFs isn't the most important event in this story. That's why it's not so important whether the ETFs provoke additional inflows or simply accumulate investments from related areas.


StormGain Analytical Group (https://stormgain.com/)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on January 26, 2024, 02:35:01 PM
Solana is about to overtake Ethereum in stablecoin volume

Transactions with stablecoins are key activity areas for networks supporting smart contracts. In December, stablecoin volume totalled $1.2 trillion, and the number of active addresses is growing year over year despite market turbulence.

(https://stormgain.com/sites/default/files/inline-images/1_36.jpg)

For the past two years, the Tron network has been competing with Ethereum, allowing USDT and other stablecoins to be transferred at lower fees. But at the end of 2023, Solana displaced Tron from the second position, challenging Ethereum. In the last week, Ethereum accounted for 39% of turnover, Solana contributed another 29%, and Tron made up 25%.

(https://stormgain.com/sites/default/files/inline-images/2_33.jpg)

Solana outperforms its competitors in key parameters. For instance, a transaction is completed within half a second, and commission is under one cent.

(https://stormgain.com/sites/default/files/inline-images/3_30.jpg)

Last year, Visa chose Solana as its partner for an interbank exchange pilot project since transfers on the blockchain proved more efficient than traditional methods. The payment giant's opinion can be found on its official website (https://usa.visa.com/solutions/crypto/deep-dive-on-solana.html).

This news, coupled with VanEck's investment report that the network was undervalued, led to an explosive rise in the coin's value last year.

(https://stormgain.com/sites/default/files/inline-images/4_23.jpg)

Solana's only major problem has always been frequent failures, often leading to a complete shutdown. But since February, the network has been operating stably and even successfully overcame a surge of transactions in connection with the mass minting of ordinals at the end of 2023. Not all networks coped well with this challenge.

(https://stormgain.com/sites/default/files/inline-images/5_19.jpg)

The developers hope that the issue with network failures will finally be resolved by deploying the new Firedancer validator. Its rollout is scheduled for the first half of 2024.


StormGain Analytical Group (https://stormgain.com/)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on January 31, 2024, 08:58:07 AM
Last week's net outflow from Bitcoin ETFs amounted to $0.5 billion

Last week, the outflow of investors from Grayscale reached $2.2 billion, which other Bitcoin crypto funds couldn't compensate for. The net weekly amount was a $478.9 million outflow.

(https://stormgain.com/sites/default/files/inline-images/net-outflows-from-bitcoin-etfs-1.jpg)

Investors are fleeing GBTC for two reasons: some are locking in profits from the gains on the fund's stock in 2023 when it traded at an over 40% discount to the underlying asset. Others are angry about the relatively high fund management fees. Grayscale has a 1.5% fee, while other funds have gone as low as 0.2-0.3%.

Invesco, which initially charged a fee of 0.39%, lowered it to 0.25% yesterday. Competition is so fierce that a tenth of a per cent is enough to risk serious underinvestment despite Grayscale's reputation and its hefty $1.5 trillion in assets under management.  The updated table of fees is as follows:

(https://stormgain.com/sites/default/files/inline-images/net-outflows-from-bitcoin-etfs-2.jpg)

BlackRock continues to lead the list of newly created ETFs (Grayscale's fund was converted from a trust fund) with $2.2 billion. Fidelity is about to surpass the $2 billion threshold. WisdomTree comes in last with $6.3 million.

There have been $760 million in net inflows since spot Bitcoin ETFs launched.

(https://stormgain.com/sites/default/files/inline-images/net-outflows-from-bitcoin-etfs-3.jpg)

Grayscale is bleeding $5 billion primarily because of the discount that emerged in 2023. Investors who are unhappy with high fees will simply migrate to competitors. The pressure on Bitcoin will ease.

(https://stormgain.com/sites/default/files/inline-images/net-outflows-from-bitcoin-etfs-4.jpg)

The overall inflow of investments into ETFs, on the other hand, will strengthen as soon as the market digests the current correction. The correction was brought on both by Grayscale and the desire to lock profit by short-term holders and miners. Miners have sent over 360,000 BTC (about $15 billion) to crypto exchanges since the ETFs launched.

(https://stormgain.com/sites/default/files/inline-images/net-outflows-from-bitcoin-etfs-5_0.jpg)

The emergence of spot ETFs is positively affecting direct investments in the cryptocurrency and increasing its reputation. Even the sharp cryptocurrency opponent, the SEC, recognises Bitcoin as a good and an investment asset.

Larry Fink, the head of BlackRock, the largest investment company in the world in terms of assets under management, was sceptical about the cryptocurrency back in 2021. Since then, he's changed his mind, calling himself a Bitcoin "supporter" two years later.


StormGain Analytical Group (https://stormgain.com/)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on February 01, 2024, 08:58:58 AM
Why the response to halving will be similar to the reaction to ETFs

In 2023, miners doubled their production capacity. The total hashrate of the Bitcoin network increased 2.1 times to 515 EH/s.

(https://stormgain.com/sites/default/files/inline-images/similar-reaction-1.jpg)

Among publicly traded miners, Marathon Digital took the first place by growth rate, increasing its capacity by 3.5 times to 24.7 EH/s. Iris Energy, which saw 3.3-fold growth, and HUT 8 (2.9-fold growth) also showed excellent results. Marathon Digital ranked first in relative and absolute terms, overtaking 2022 leader Core Scientific.

(https://stormgain.com/sites/default/files/inline-images/similar-reaction-2.jpg)

The former is also distinguished by its retention strategy: its reserves amount to an industry record of 15,200 BTC (~$654 million). Having learned the lesson of 2022, most miners are accumulating with caution. Core has undergone reorganisation after filing bankruptcy under Chapter 11 and is now dumping coins on the market without delay.

(https://stormgain.com/sites/default/files/inline-images/similar-reaction-3.jpg)

The ongoing arms race has resulted in little to no growth in yields per terahash of capacity over the past 12 months despite Bitcoin's solid surge.

(https://stormgain.com/sites/default/files/inline-images/similar-reaction-4_0.jpg)

Meanwhile, the halving event is less than three months away. If the coin's value doesn't show significant growth, most miners will face a severe lack of liquidity, which will force them to sell off their reserves more actively.

(https://stormgain.com/sites/default/files/inline-images/similar-reaction-5.jpg)

This month, they have already seized on an excuse in the form of spot ETF approvals in the US to send a six-year record 624,000 BTC (~$26 billion) to crypto exchanges from 10 January.

(https://stormgain.com/sites/default/files/inline-images/similar-reaction-6_0.jpg)

At the moment, miners collectively hold an impressive reserve of 1.8 million BTC, worth $77 billion. If Bitcoin doesn't show growth before the halving, the decline in yields will cause another wave of sell-offs.


StormGain Analytical Group (https://stormgain.com/)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on February 02, 2024, 08:49:50 AM
How the Polygon team scammed investors out of $1 billion

Recently, the analyst firm ChainArgos released (https://medium.datadriveninvestor.com/poly-gone-400-million-matic-missing-42daff508495) an unflattering article for Polygon management. It recorded the disappearance of around 400 million MATIC that should have gone to validators as staking fees. Another 367 million MATIC was withdrawn from the marketing fund.

In 2019, the young startup Polygon, formerly called MATIC, used Binance Launchpad to launch a token and attract investors. According to the white paper, 1.2 billion MATIC was intended for investors participating in a staking programme. Binance, for its part, confirms (https://www.binance.com/en/research/projects/matic-network) that this was the case: 12% of the 10 billion tokens were sent to validators.

(https://stormgain.com/sites/default/files/inline-images/polygon-team-scammed-investors-1.jpg)

The ChainArgos agency tracked the movement of coins and discovered that, as a result of shuffling, only 800 million MATIC reached investors. Polygon also didn't bother to hide the evidence. 300 million MATIC for staking was poured into the address, where 466 million MATIC from the "marketing and ecosystem" section were later added. This definitively linked the addresses to Polygon, leaving no doubt about the maliciousness of the actions.

Later, the coins migrated to a Binance address for subsequent sale. The analysts concluded from this that the cryptocurrency exchange was involved in the foul play. The movement of funds simply couldn't go unnoticed. They estimate that project managers withdrew a total of 767 million MATICs, which was worth about $1 billion at former prices. A detailed analysis can be found at the link at the beginning of this article.

(https://stormgain.com/sites/default/files/inline-images/polygon-team-scammed-investors-2.jpg)

In addition to direct investors losing funds, token buyers on cryptocurrency exchanges also suffered, as the coin withdrawals and disguised sales were followed by a major drop in MATIC's price starting in January 2022.

(https://stormgain.com/sites/default/files/inline-images/polygon-team-scammed-investors-3_0.jpg)

ChainArgos notes that the white paper isn't legally binding in the same way as a shareholder agreement. That's why Polygon faces no criminal liability for its dishonest policy regarding notice of planned actions. Privately, investors can take legal action if the company's actions resulted in direct losses.


StormGain Analytical Group (https://stormgain.com/)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on February 05, 2024, 01:15:24 PM
History repeats itself: The US banking sector is once again under attack

In March 2023, the US banking sector faced a series of bankruptcies, primarily caused by the Federal Reserve's increase of the key interest rate. Rate hikes led to a reduction in income and the depreciation of banks' investment portfolios. This primarily affected Treasury bonds. During the "easy money" period of 2020-2021, a number of banks stocked up on treasuries. The rate hikes resulted in their value dropping.

(https://stormgain.com/sites/default/files/inline-images/history-repeats-1.jpg)

The US Fed's key rate changes

The government and the Fed had to intervene to resolve the situation. Banks were given the opportunity to sell bonds at old prices. In addition, the Fed launched a one-year emergency lending line. Within the scope of the latter, banks have took $165 billion in loans. On 11 March, the lending line will be closed.

(https://stormgain.com/sites/default/files/inline-images/history-repeats-2.jpg)

This has spared the economy from the open flame, but the coals are still hot. Throughout 2023, a number of economists and businessmen urged the regulator to cut the ineterest rate to prevent a crisis that would start with regional banks. But the Fed still believes the situation is under control and that all measures should be aimed at achieving the target inflation goal of 2.0% to 2.5%.

The new red flag appeared yesterday when NYSB, the bank that bought the assets of the bankrupt Signature Bank, reported an unexpected loss of $252 million in Q4 2023. Investors and customers rushed for the exits, withdrawing their funds in the process. It's worth noting that deposit outflows are one of the most serious stress tests for the banking industry.

(https://stormgain.com/sites/default/files/inline-images/history-repeats-31.jpg)

Goldman Sachs wrote in a note to investors that market sentiment has turned significantly negative for the first time since late October, and the weakness of regional banks should be offset by a "dose of hedging" in the investment portfolio.

(https://stormgain.com/sites/default/files/inline-images/history-repeats-4_0.jpg)

Last March, Bitcoin became one of these "hedging assets" and experienced a significant influx of investments. Unlike bank deposits, cryptocurrency has no insured amount beyond which funds can be irretrievably lost. For example, SVB, which went bankrupt a year ago, had 85% of its $175 billion in deposits that weren't insured by the FDIC. And if it weren't for the direct intervention of the Fed and the Treasury Department, the list of bankrupt companies (which would've been dragged down by collapsed banks) would've been impressive.

Since the underlying problem hasn't been resolved, the banking sector's profitability remains at an uncomfortable level. With the end of the emergency programme and a high key rate, new shocks await banks.


StormGain Analytical Group (https://stormgain.com/)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on February 06, 2024, 02:09:05 PM
Overview of crypto ETFs through January 2024

In January, the launch of spot ETFs shook markets, and Bitcoin became the second-place commodity (the SEC assigns it this status) after gold in terms of the volume of collected investments. The crypto ETFs' current total capitalisation is $50.7 million, growing by 1.5% in January.

(https://stormgain.com/sites/default/files/inline-images/overview-of-crypto-funds-1.jpg)

This modest gain is due to a large outflow from the Grayscale fund (GBTC), which was converted to a spot ETF from a trust fund. Ahead of the conversion, investors bought more than $3 billion worth of shares in 2023 alone, trading at a significant discount to the underlying asset. After the conversion, over $5 billion flowed out of the fund.

(https://stormgain.com/sites/default/files/inline-images/overview-of-crypto-funds-2.jpg)

The second reason is Grayscale's 1.5% fund management fee. Other spot Bitcoin ETFs have a management fee of between 0.2% and 0.3%. The peak withdrawal from GBTC, $641 million, occurred on 22 January. After that, the negative trend began to decline. At the end of the month, it stayed below $250 million.

(https://stormgain.com/sites/default/files/inline-images/overview-of-crypto-funds-3.jpg)

The large outflow from GBTC has blurred the picture of what institutional interest in Bitcoin looks like. In addition to net inflows, trading volume and open interest can be used to show this interest. The average daily trading volume jumped 224% in January to $2.2 billion.

(https://stormgain.com/sites/default/files/inline-images/overview-of-crypto-funds-4.jpg)

Open interest in derivatives contracts on the Chicago Mercantile Exchange (CME) remains near record-high levels.

(https://stormgain.com/sites/default/files/inline-images/overview-of-crypto-funds-5.jpg)

January was exciting, but hopes for Bitcoin's growth didn't pan out due to the capital outflow from GBTC and miners' desire to get rid of part of their reserves.

(https://stormgain.com/sites/default/files/inline-images/overview-of-crypto-funds-6_0.jpg)

However, long-term trends point to significant interest in the cryptocurrency. BlackRock's fund saw nearly $3 billion in capital inflows in January, putting it at eighth according to this metric among all exchange-traded ETFs traded in the United States.

(https://stormgain.com/sites/default/files/inline-images/overview-of-crypto-funds-7.jpg)

The most conservative estimates suggest that Bitcoin ETFs will attract $10 billion in investments in 2024, seeing the biggest effect from their launch in Q4.


StormGain Analytical Group (https://stormgain.com/)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on February 07, 2024, 08:39:43 AM
Investors exchange gold for Bitcoin

The approval of spot Bitcoin ETFs in the US increased the cryptocurrency's reputation and made it much easier for many people to invest in Bitcoin and put it on the same level as gold. In the SEC's accompanying letter to the approval of the ETFs, Chairman Gary Gensler reiterated that the regulator views Bitcoin exclusively as a commodity.

The importance of the event for the crypto market can hardly be overestimated, as it'll cause a significant inflow of capital. In the statistics for January, it's weakly reflected due to the negative impact of Grayscale, which isn't related to the investment attractiveness of Bitcoin (read more on the reasons here https://stormgain.com/blog/bitcoin-outflows-from-grayscale-fund-exceed-five-billion-dollars). The good news is that this trend is weakening. From a peak of 24,000 BTC (~$1 billion) a day, the outflow has dropped to 3,400 BTC (~$145 million).

(https://stormgain.com/sites/default/files/inline-images/swapping-gold-for-bitcoin-1.jpg)

As interest in the remaining nine spot ETFs didn't change much, last week marked a return to growth in net inflows, reaching $708 million.

(https://stormgain.com/sites/default/files/inline-images/swapping-gold-for-bitcoin-2.jpg)

Moreover, funds from BlackRock and Fidelity were among the top 10 fastest-growing ETFs in the US in January. In contrast, the gold ETF from SSGA, which has the largest private gold holdings, showed a significant outflow of $1.8 billion.

(https://stormgain.com/sites/default/files/inline-images/swapping-gold-for-bitcoin-3.jpg)

The trend of Bitcoin replacing gold as an investor preference has been noted by many analyst companies since 2021, including Bank of America and JPMorgan. This trend started to fully manifest after the launch of spot ETFs.

For the long-term valuation of gold and cryptocurrency, Cathie Wood of Ark Invest suggests relying on the ratio of Bitcoin's value expressed in ounces of gold. The logarithmic chart speaks for itself.

(https://stormgain.com/sites/default/files/inline-images/swapping-gold-for-bitcoin-4.jpg)

A new boost in crypto growth may provoke a repeat of last March's banking crisis when a full-scale crash could only be prevented by the direct intervention of the government and the Fed (read more in our article https://stormgain.com/blog/history-repeats-us-banking-sector-is-under-attack-again). Bitcoin then gained 50%, rising to $30,000 within a month.

(https://stormgain.com/sites/default/files/inline-images/swapping-gold-for-bitcoin-5_0.jpg)

In addition to the banking crisis, the US faces a national debt problem that is costing a lot to service. Even Federal Reserve Chairman Jerome Powell, who usually ignores politics, recently criticised the government:

"The US federal government's on an unsustainable fiscal path... The debt is growing faster than the economy".

For centuries, gold was a safe haven, but Bitcoin will eventually replace it as a more convenient and safer (in certain aspects) instrument.


StormGain Analytical Group (https://stormgain.com/)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on February 08, 2024, 09:59:42 AM
Binance is removing Monero. Is Litecoin next?

The de-listing of the anonymous Monero coin was a logical consequence of a pre-trial agreement between Binance and the US Department of Justice in November, under which government agencies were given unrestricted access to all documentation and the cryptocurrency exchange pledged to comply with international and US laws strictly.

Due to their complex architecture and transaction mixing, anonymous coins make it difficult for law enforcement agencies to track financial transactions. In particular, Monero uses ring signatures, where a transaction can be signed on behalf of a group by any of its members. This makes it virtually impossible to trace funds.

(https://stormgain.com/sites/default/files/inline-images/binance-deletes-monero-1.jpg)

And while the cryptocurrency exchange previously highlighted privacy and the right to financial freedom as Montero's advantages, the official reason for the de-listing scheduled for 20 February was "failure to meet high standards".

After the news went live, Monero collapsed 26% to $122 and, in the overall ranking, fell to 39th place, with a capitalisation of $2.2 billion.

(https://stormgain.com/sites/default/files/inline-images/binance-deletes-monero-2_0.jpg)

The backlash from market participants against supporting anonymous coins dates back to 2019 when the International Anti-Money Laundering Organisation FATF adopted a resolution on the need for cryptocurrency exchanges to comply with KYC and AML procedures. Since then, the trend has only gained momentum.

Binance, on the other hand, is now fully bound by the agreement, which hints at tightening conditions further. Litecoin might be next.

(https://stormgain.com/sites/default/files/inline-images/binance-deletes-monero-3_0.jpg)

In May 2022, the MimbleWimble (MVEB) protocol was introduced to the network. It greatly enhanced privacy by combining a number of transactions into a single record that then become a set of random characters. MVEB isn't as anonymous as Monero or Zcash, but even this privacy level was enough to de-list Litecoin from major South Korean cryptocurrency exchanges in 2022.

(https://stormgain.com/sites/default/files/inline-images/binance-deletes-monero-4.jpg)

Binance is having a tough time. Its market share is down 19% in 2023, and the former head of one of the SEC's divisions, John Reed Stark, believes that a deal with the US government could bury the crypto exchange.

(https://stormgain.com/sites/default/files/inline-images/binance-deletes-monero-5.jpg)

If regulators hint to Binance about Litecoin's excessive privacy, the coin will similarly disappear from the platform.


StormGain Analytical Group (https://stormgain.com/)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on February 12, 2024, 04:59:39 PM
Ripple suspected of involvement in $112 million hack

In late January, crypto detective ZachXBT reported on a potential hack of Ripple and the theft of 213 million XRP from the rJNL* address. The company's co-founder, Chris Larsen, revealed that personal wallets were hacked on 30 January. In his words, the attacks had nothing to do with the company or its functioning.

(https://stormgain.com/sites/default/files/inline-images/ripple-is-suspected-1.jpg)

That would seem like the end of the story, as it's only due to Larsen's own carelessness. However, an investigation by Hacken, a company that audits the security of crypto projects, raises new questions (https://twitter.com/hackenclub/status/1755246961454612710).

In addition to the above-mentioned rJNL*, the ru1B* address has obvious signs of hacking, and it was also emptied in several goes on 30 January. Some funds were transferred from these addresses to rs1*. We'll clarify what's what: rJNL* and ru1B* are Larsen's wallets, and rs1* is the fraudster's wallet.

(https://stormgain.com/sites/default/files/inline-images/ripple-is-suspected-2.jpg)

Next, the funds from rs1* go to crypto exchanges, with the most notable being Kraken with the address rLHz*. The fraudster probably uses it to cash out, according to analysts. But how can one explain that the same rLHz* address was previously (long before the hack) used by Larsen himself when he would directly send funds from ru1B*?

(https://stormgain.com/sites/default/files/inline-images/ripple-is-suspected-3.jpg)

There could be several reasons for such a strange coincidence. For example, a company employee could've been behind the hack and used old financial channels for withdrawal. To avoid casting a shadow on the company's credibility, Larsen put the whole thing down to his own failures.

The incident could've been used to divert attention away from a major XRP cash-out by Ripple's management (Larsen is the executive chairman). Alternatively, the hype may have been used to build up reserves at a discounted price, though that's unlikely. Unfortunately, there are more questions than answers.

(https://stormgain.com/sites/default/files/inline-images/ripple-is-suspected-4_0.jpg)

This week, a court granted the SEC's request for Ripple's financial statements for the past two years. The case is related to the regulator's intention to recognise XRP as a security. If it's revealed that tokens were sold to institutional investors, the company will be charged with violating securities law and will receive large fines and a possible ban on continuing operations. The coin could collapse.

Six months ago, we covered this issue, urging caution among potential investors. Since then, XRP's price has dropped 32%.


StormGain Analytical Group (https://stormgain.com/)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on February 13, 2024, 04:01:13 PM
Solana will miss the next growth wave

The positive momentum from the launch of spot ETFs is gaining speed, and capital inflows are picking up pace. On 8 February, net inflow amounted to $405 million, the third-highest in the past month. Grayscale's negative impact was notably less, going from $640 million on 22 January to the current $102 million.

(https://stormgain.com/sites/default/files/inline-images/miss-next-wave-of-growth-1.jpg)

The total volume of the nine newly created funds (Grayscale was converted to an ETF from a trust fund) has reached $10 billion in just one month. Sceptics had forecast that this would take at least a year. The impressive demand has compensated nearly two-fold the outflow from Grayscale, which is not related to interest in Bitcoin (we previously explained the reasons in our article - https://stormgain.com/blog/bitcoin-outflows-from-grayscale-fund-exceed-five-billion-dollars).

This led to the rise of Bitcoin's price, which aims to break through the $50,000 level and strengthen its share in the cryptocurrency market.

(https://stormgain.com/sites/default/files/inline-images/miss-next-wave-of-growth-2.jpg)

The emergence of ETFs became irreversible in October 2023, when the deadline for the SEC to appeal the conversion of Grayscale's fund expired. Solana was one of several altcoins that were able to take advantage of the change in sentiment in the crypto market. The rise in the coin's price was also fuelled by its own factors, such as the joint creation with Visa of a pilot project to conduct interbank payments and the inclusion of blockchain transactions in the Shopify payment gateway.

(https://stormgain.com/sites/default/files/inline-images/miss-next-wave-of-growth-3_0.jpg)

Interest in Solana is driven by its high transaction completion speeds and low fees, which is why investment firm VanEck has estimated that the coin's price could reach $3,211 by 2030 in a favourable scenario.

(https://stormgain.com/sites/default/files/inline-images/miss-next-wave-of-growth-4.jpg)

Another thing fuelling the excitement around Solana was the absence of critical errors since February 2023, which came as a pleasant surprise to many observers (including us - https://stormgain.com/blog/solana-surprises-with-dynamic-and-trouble-free-operation) since the network previously experienced outages an average of once per quarter. Unfortunately, however, it wasn't to go a full year without a shutdown. On 6 February, a critical error occurred that led to a 5-hour shutdown and network rollback.

(https://stormgain.com/sites/default/files/inline-images/miss-next-wave-of-growth-5.jpg)

When defending the product, supporters and management always refer to the fact that it's in beta, although Solana's history dates back to March 2020. Daniel Kuhn of Consensus magazine believes this is hypocritical since the sale of related products (for example, Saga smartphones) doesn't mention the network's beta status anywhere.

Failures cause a serious blow to its reputation, which is why pilot projects, like the network, can remain in beta forever. It is likely that Solana won't be able to grow with the same agility in the near future and will finally give way to Bitcoin in terms of growth rates in Q1.


StormGain Analytical Group (https://stormgain.com/)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on February 15, 2024, 10:12:34 AM
Long-term Bitcoin holders are locking in profits

Currently, 87% of the total BTC issued is in the black for its owners. It's traded above $50,000 for less than 3% or 141 days of its history. This raises the temptation of locking in profits. As a result, long-term holders (LTH) have reduced their holdings by 300,000 BTC to 14.7 million BTC.

(https://stormgain.com/sites/default/files/inline-images/holders-lock-in-profits-1.jpg)

At first glance, it may appear that a sell-off by the most resilient market participants has begun, but that's not the case. Half of the volume has come from the Grayscale fund, which was converted to a spot ETF from a trust fund. The fund's shares were actively bought up last year because of the significant discount of over 40% on the underlying asset. By the time the fund was converted, the discount had levelled off. GBTC is responsible for the sale of 150,000 BTC, totalling $6.3 billion.

(https://stormgain.com/sites/default/files/inline-images/holders-lock-in-profits-2.jpg)

Of the remaining 150,000 BTC under consideration, miners made up the lion's share of the sell-off as they prepare for the halving event in April. The block's mining income will be halved, which, at current prices (and especially in the event of a correction), will put many in a difficult position. They decided to act on the news of the launch of ETFs by massively reducing reserves from 11 January.

(https://stormgain.com/sites/default/files/inline-images/holders-lock-in-profits-3.jpg)

On the other hand, all of that outflow was offset by nine newly created ETFs, with BlackRock at the head. Collectively, they accumulated $10 billion of Bitcoin, which allowed the price to test $50,000 again.

(https://stormgain.com/sites/default/files/inline-images/holders-lock-in-profits-4_0.jpg)

Last week, for example, inflows into these funds totalled $1.5 billion, while outflows from GBTC were $400 million.

(https://stormgain.com/sites/default/files/inline-images/holders-lock-in-profits-5.jpg)

It turns out that the main outflow from LTHs came from Grayscale and miners for objective reasons. In terms of how most market participants assess Bitcoin's prospects, they remain purely positive. For example, Skybridge Capital founder Anthony Scaramucci wrote on social media that investors who missed the start of the rally didn't miss the train since Bitcoin's price will quadruple 18 months after its halving event.

(https://stormgain.com/sites/default/files/inline-images/holders-lock-in-profits-6.jpg)

The world's largest publicly traded holder, MicroStrategy, is also keeping a positive outlook and building up its Bitcoin reserves every quarter. It currently holds 190,000 BTC or nearly $10 billion.


StormGain Analytical Group (https://stormgain.com/)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on February 16, 2024, 10:42:57 AM
Positive trends in the Ethereum network

In 2023, Ethereum's position was undermined by SEC enforcement practices, leading to most US cryptocurrency exchanges refusing to offer staking. The regulator's desire to grant the coin the status of a security and oppose the emergence of spot ETFs with it by all means also hurt its investment appeal.

This resulted in Ethereum losing 26% to Bitcoin over the past year.

(https://stormgain.com/sites/default/files/inline-images/positive-trends-1_0.jpg)

Negative dynamics against several crypto assets couldn't compensate for the yield from staking at ~4%, leading to a decrease in the number of those willing to participate. However, the network has experienced an influx of validators in the past two weeks, causing the queue to grow to 2.5 days.

(https://stormgain.com/sites/default/files/inline-images/positive-trends-2.jpg)

The reason for the renewed interest was the Starknet project, which has planned a free coin distribution starting from 20 February. Some of them will go to Ethereum validators. Starknet is a layer 2 (L2) network, helping to reduce fees and increase the speed of Ethereum transactions.

(https://stormgain.com/sites/default/files/inline-images/positive-trends-3.jpg)

Another positive trend was the February launch of the experimental protocol ERC-404 tokens, which combines the functions of ERC-20 and ERC-721. The first ones were 10,000 Pandora tokens, each of which was backed by NFTs. This is part of the game since it's unknown which NFTs the user will receive when purchasing Pandora. NFTs can be unbundled from the tokens when sold independently.

(https://stormgain.com/sites/default/files/inline-images/positive-trends-4.jpg)

Despite the experimental nature of ERC-404 and the lack of official adoption by the Ethereum Foundation, the excitement around the new protocol has already resulted in a noticeable increase in fees.

(https://stormgain.com/sites/default/files/inline-images/positive-trends-5.jpg)

New projects, experiments, and the expected lower fees on L2 networks after the Dencun update could boost Ethereum, reversing the negative impact of last year's events.


StormGain Analytical Group (https://stormgain.com/)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on February 20, 2024, 04:45:11 PM
Worldcoin's price increases 2.5 times in a week

Sam Altman, the CEO of OpenAI responsible for the emergence of ChatGTP, is actively applying AI developments to the crypto industry. His global currency project, Worldcoin, continues to gain momentum, and the WLD coin that launched in mid-2023 is reaching new heights.

(https://stormgain.com/sites/default/files/inline-images/worldcoin-rose-in-price-1_0.jpg)

The startup's primary goal is to sort the wheat from the chaff, i.e., to be able to reliably identify a user in an era in which spam bots and scammers dominate. This problem also concerns artificial intelligence, which, with each new year, gets better at copying human behaviours, writing thesis papers, drawing and even generating copies of documents.

Worldcoin proposes to link a unique ID to a specific user once and for all by scanning his or her retina. Verification via World ID on web resources would mean that a real person is behind specific actions. After undergoing a subsequent Know Your Customer identity verification procedure, a platform would definitively link an account to a specific individual.

To reduce the risk of leaking retina scans, the company uses zero-knowledge proof, which, roughly speaking, means keeping a hash function of the scan. The scan itself is destroyed, while the access codes are stored on the user's phone in the World App. If a user needs to be linked to World ID again, he or she undergoes another retina scan.

(https://stormgain.com/sites/default/files/inline-images/worldcoin-rose-in-price-2.jpg)

Worldcoin has implemented a payment of 25 WLD (about $165 at current prices) to motivate users to join the community. In certain countries, this gift has caused real excitement and queues at offices to undergo the scan.

As a result of heightened interest in the project, the number of daily active users has skyrocketed from 100,000 in November to 1 million last week.

(https://stormgain.com/sites/default/files/inline-images/worldcoin-rose-in-price-3.jpg)

However, the governments of a host of countries have already raised the alarm and prohibited Worldcoin due to the collection of biometric data and the risk of leaking confidential data. The news that other peoples' accounts are being bought in China (where it's forbidden to collect biometric data) added fuel to the fire. The black market is rife with offers from Kenya and Cambodia, and the company has confirmed the sale of several hundred World IDs.

Such incidents seriously undermine the project's reputation, and the prohibition on collecting biometric data could become widespread. Investors and traders should exercise extreme caution when assessing Worldcoin's prospects.


StormGain Analytical Group (https://stormgain.com/)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on February 21, 2024, 11:11:10 AM
Bitcoin's new records in investment inflows

Investment interest in Bitcoin is reaching new heights. The net inflow of investments into ETFs last week was a record-high $2.45 billion and $5.2 billion in total since the beginning of the year.

(https://stormgain.com/sites/default/files/inline-images/new-bitcoin-records-1.jpg)

Freshly launched spot ETFs performed well, with BlackRock leading the way with $6.2 billion under management, followed by a product from Fidelity with $4.5 billion. Combined, the two funds beat Grayscale's $7 billion outflow (GBTC).

(https://stormgain.com/sites/default/files/inline-images/new-bitcoin-records-2.jpg)

It's worth remembering that the outflow from GBTC is not related to the investment appeal of the cryptocurrency but is caused by a significant discount on the shares against the underlying asset in 2023 and increased fund management fees if compared to competitors. The reduction in GBTC's 'blood-letting' is a positive factor.

(https://stormgain.com/sites/default/files/inline-images/new-bitcoin-records-3.jpg)

The growth of open interest (the total volume of all open positions) in futures on the Chicago Mercantile Exchange (CME) to $6.8 billion was another record for Bitcoin. Like the growth of inflows into ETFs, this indicates increased interest in the cryptocurrency among institutional investors.

(https://stormgain.com/sites/default/files/inline-images/new-bitcoin-records-4.jpg)

According to CryptoQuant, over 70% of all Bitcoin investments in recent weeks have been generated by US ETFs. As a result, the share of US capital by market depth has increased from an average of 40% in 2023 to 50%. And the indicator increased from $454 million to $539 million in 2024.

For reference, market depth is the total volume of open orders from the current price in both directions (in this case, by 2%). The greater the indicator is, the more resistant the asset is to market manipulations and the more restrained volatility is.

(https://stormgain.com/sites/default/files/inline-images/new-bitcoin-records-5.jpg)

This surge of interest has led to Bitcoin's 22% growth in 2024. In addition, most forecasts predict a new all-time high and reaching the six-figure level as early as this year.

(https://stormgain.com/sites/default/files/inline-images/new-bitcoin-records-6_0.jpg)

On 19 February, former US intelligence official Edward Snowden called Bitcoin the most significant achievement in the history of money.


StormGain Analytical Group (https://stormgain.com/)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on February 22, 2024, 10:15:29 AM
Ethereum challenges Bitcoin for top growth rate in 2024

In its recovery from last year, Ethereum has shown excellent dynamics in the previous two months. Its price has increased by 31% and overcome the important $3,000 level. The altcoin's boom is due to both the revival of the DeFi sector and hopes for spot ETFs emerging as early as May.

(https://stormgain.com/sites/default/files/inline-images/ethereum-challenges-bitcoin-1.jpg)

Over the past five months, spot ETFs have been the undoubted driver of the cryptocurrency market's growth, which has led to Bitcoin's market share strengthening to 52%.

(https://stormgain.com/sites/default/files/inline-images/ethereum-challenges-bitcoin-2.jpg)

Several signs point to the imminent return of the altcoin season, with the initial momentum spreading from Bitcoin to other coins. After a brief pause, altcoin capitalisation returned to growth, which reset Glassnode's indicator on 4 February.

(https://stormgain.com/sites/default/files/inline-images/ethereum-challenges-bitcoin-3.jpg)

Among altcoins, the most notable is Ethereum, which leads the DeFi sector in capitalisation, number of active validators and staked funds (TVL). This year, TVL grew by 54% to $46.4 billion.

(https://stormgain.com/sites/default/files/inline-images/ethereum-challenges-bitcoin-4.jpg)

The DeFi revival is due to the growing popularity of new projects. For example, the EigenLayer platform has managed to raise $6.8 billion since the beginning of the year, thanks to the emergence of a new type of liquid restaking tokens or LRT. These tokens are designed to displace the leadership of stETH, which Lido issues in exchange for ETH locked in staking.

Simply put, both stETH and LRT increase the profitability of ETH staking by re-lending funds. First, ETH is locked, and platform tokens are issued, which users can deposit or sell on another platform. All of this significantly increases the associated risks but also allows you to make the most out of the available ETH.

Without such tricks, the annual yield from ETH staking is less than 4%. Yield floats since it's affected by the number of validators and transaction processing fees.

(https://stormgain.com/sites/default/files/inline-images/ethereum-challenges-bitcoin-5.jpg)

The Ethereum network's deflationary nature is another reason for its growth. Since the switch to PoS, the number of coins in circulation has decreased by 362,000 ETH (~$1.1 billion) because part of the reward paid by the sender for processing transactions is burned.

(https://stormgain.com/sites/default/files/inline-images/ethereum-challenges-bitcoin-6.jpg)

However, speculation surrounding the approval of Ethereum spot ETFs in May should be treated with caution. The SEC has always spoken of Bitcoin as a commodity, which has helped promote exchange-traded funds. The regulator labelled Ethereum as a security immediately after it switched to PoS and even forced a number of cryptocurrency exchanges to stop staking it.


StormGain Analytical Group (https://stormgain.com/)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on February 23, 2024, 12:36:30 PM
Stablecoins are losing significance

Stablecoins are the bridge between fiat money and cryptocurrencies. When trading crypto, traders would inevitably turn to stablecoins, which ensured the growth of this segment as demand for Bitcoin increased.

(https://stormgain.com/sites/default/files/inline-images/stablecoins-are-losing-importance-13.jpg)

For example, during the 2020-2021 bull run, Bitcoin grew six-fold, while the capitalisation of stablecoins increased 33 times to $166 billion over the same time.

(https://stormgain.com/sites/default/files/inline-images/stablecoins-are-losing-importance-2.jpg)

The emergence of spot ETFs has weakened this relationship, as many traders and investors have gained access to cryptocurrency through brokers. There's no longer a need for stablecoins when Bitcoin is of purely investment/speculative interest.

A bizarre event occurred on 20 February, when the trading volume of VanEck's HODL fund shares jumped more than 10-fold to $400 million in a day, and the number of trades rose from 500 to 50,000. Eric Balchunas of Bloomberg suggested that a recommendation from a popular blogger on Reddit or TikTok caused the hype.

(https://stormgain.com/sites/default/files/inline-images/stablecoins-are-losing-importance-3.jpg)

The remarkable thing here is that such a surge demonstrates retail investors' strength and ease of entry. Previously, they would storm a crypto exchange. Now, these movements are seen in ETFs.

Speaking about the loss of significance of stablecoins, it's worth mentioning internal problems. Last year, USDC almost lost part of its reserves due to the bankruptcy of a US bank, and USDT is still being challenged due to the lack of a transparent audit and the presence of commercial papers in its reserves. These are the market's leading coins, with a combined share of 90%.

(https://stormgain.com/sites/default/files/inline-images/stablecoins-are-losing-importance-4.jpg)

Two days ago, Circle (the issuer of USDC) refused to further mint on the Tron blockchain, which is headed by scandal-plagued Justin Sun. Last year, the SEC sued Sun and the Tron fund for illegal and manipulative securities trading. Given the impending proceedings, Circle probably decided to withdraw from this network.

However, Tether's (the issuer of USDT) connection with Tron is getting stronger every year, and there are now more USDT minted on this blockchain than on Ethereum: $52 billion vs. $45 billion, respectively.

(https://stormgain.com/sites/default/files/inline-images/stablecoins-are-losing-importance-5.jpg)

Last year, Paxos was the #3 issuer, issuing BUSD for Binance until the NYDFS Department of Finance filed a pre-enforcement action notification. The problem was that Paxos was minting BUSD on Ethereum while Binance issued the stablecoin in parallel on the BSC network. This caused a gap of over $1 billion between reserves and supply. Both companies decided to stop supporting BUSD starting in 2024.

(https://stormgain.com/sites/default/files/inline-images/stablecoins-are-losing-importance-6.jpg)

It's little wonder that in such conditions, more and more market participants prefer to avoid stablecoins. Legislators are also busy. In the EU, from mid-2024, the MiCA legislation will be implemented, including regulation of stablecoin transparency. Meanwhile, in the US, a similar bill is being discussed in relevant committees.


StormGain Analytical Group (https://stormgain.com/)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on February 26, 2024, 12:46:11 PM
What Is Bitcoin Halving? How Does It Work, and Will Bitcoin Go Up After Halving 2024?

Bitcoin halving is a term that often pops up in discussions about the world's most famous cryptocurrency, often accompanied by speculation and anticipation. But what exactly does it mean, and why does it matter? In this article, we'll explore Bitcoin halving, how it works, its dates and what effect it can have on the price of Bitcoin, especially as we approach the next halving event in 2024.

There are 3 eras of currency: Commodity based, politically based, and now, math based.— Chris Dixon, technology investor.

What is Bitcoin halving?

Basics of the Bitcoin network and mining

The Bitcoin network operates as a decentralised digital ledger, or blockchain, that records all transactions made with the cryptocurrency. Each block in the blockchain contains a set of transactions, and blocks are linked together in a sequential and immutable chain. At its core, Bitcoin utilises a peer-to-peer network of computers called nodes, which store a copy of the blockchain and collectively maintain the blockchain through a process known as mining.

Mining plays a crucial role in maintaining the security and integrity of the Bitcoin network. Bitcoin mining involves the process of solving complex mathematical puzzles to validate and record transactions on the blockchain. The difficulty of the mining puzzles adjusts periodically to ensure that blocks are mined consistently, approximately every 10 minutes. Miners compete to find a solution to these puzzles using specialised equipment, with the first one to find a valid solution being rewarded with newly minted BTC and transaction fees. This reward serves as an incentive for miners to contribute their computational resources to secure the network.

Mechanism of Bitcoin halving

Miners are rewarded with newly created BTC for successfully mining a block. But this block reward isn't constant. It decreases at certain intervals in a process known as halving.

Essentially, Bitcoin halving is a programmed reduction in the reward that miners receive for adding new blocks to the blockchain. The halving event occurs after every 210,000 blocks mined, which is approximately every four years. This interval is hardcoded into the Bitcoin protocol.

When the predetermined block height is reached, the mining reward is halved. Initially set at 50 BTC per block when Bitcoin was launched in 2009, the reward is reduced by half, resulting in 25 BTC per block after the first halving, 12.5 BTC after the second halving, and so forth.

Bitcoin halving is a mechanism designed to control the rate at which new BTCs are created and introduced into circulation. By reducing the block reward that miners receive for adding new blocks to the blockchain, halving events serve to limit the inflation rate of Bitcoin. This controlled supply issuance is a key aspect of Bitcoin's deflationary monetary policy, ultimately leading to a maximum supply of 21 million BTC.

(https://steemitimages.com/p/3zpz8WQe4SNGWd7TzozjPgq3rggennavDx3XPY35pEAVnpxvqYbJoUVx8cjotdux9oxvoBbbyc6K9S2qiEvdtUCCJsnfRVwQtkee1tZWcHVbvfBYtUpsLFfcGauA4uECyxTxru9CUCf324Reh8ML?format=match&mode=fit&width=640)
Bitcoin inflation chart

The history of Bitcoin halvings

The Bitcoin algorithm dictates that there will be a total of 33 halving events. Once these 33 halvings are complete, the fixed portion of the block reward will diminish to less than 1 satoshi, effectively reaching zero, and the only reward for mining will be the transaction fees.

Previous Bitcoin halving events

So far, there have been three Bitcoin halving events.

(https://steemitimages.com/p/4i88GgaV8qiFU89taP2MgKXzwntUGAvkoQiKU7VxyD37q96FVXWG1tvhHW1LvFYEC6E9SftX165rJPBEUwFirkcQ3dXYXs3NJPbS2U8VS7Mr3zR4DyumBxDrqL?format=match&mode=fit&width=640)
Bitcoin halving dates history

When is the next Bitcoin halving?

The exact timing of the next halving event is difficult to predict as it depends on the rate at which new blocks are mined, which can vary depending on fluctuations in the network hashrate. According to estimates, the nearest Bitcoin halving will occur in late April 2024.

(https://steemitimages.com/p/4i88GgaV8qiFU89taP2MgKXzwntUGAvkoQiKU7VxyD37q96FVXWG1tvhHW1LvFYEC6E9SftX165rJPBEUwFirkcQ3dXYXs3NJPbS2U8VS7Mr3zR4DyumBxDrqL?format=match&mode=fit&width=640)
The future Bitcoin halvings

You can watch the countdown to the next Bitcoin halving in real time if you wish. A Bitcoin halving countdown feature is available on various websites and apps and tracks progress towards the next Bitcoin halving event.

(https://steemitimages.com/p/3zpz8WQe4SNGWd7TzozjPgq3rggennavDx3XPY35pEAVnq2QRz6cnGN5s7QS8qmTpA5N1V1sZQueypWNqqQcbFxnEkuxv6Z6a9xxbXJKZnUiNdDaY4pCY9N6HJEupVz7xvjHCwyQP1C3zWTBmrzS?format=match&mode=fit&width=640)
Bitcoin halving countdown

Will Bitcoin go up after halving 2024?

But what happens after a Bitcoin halving event? Does Bitcoin halving increase the price of Bitcoin? Well, let's try to figure it out.

Supply and demand dynamics

Halving reduces supply by lowering the rate at which new BTCs are created. However, while this reduction in supply growth was noticeable after the first halving, the reduction after each subsequent halving is less and less significant. As of now, 93.50% of Bitcoin's maximum supply has already been mined, and the day's supply growth reduction due to halving will amount to less than 0.1% of the daily trading volume.

Impact of the previous halving events on Bitcoin's price

Looking at the Bitcoin price behaviour after previous halvings, it's easy to notice a certain pattern. After a halving event, the Bitcoin price entered a period of consolidation or sideways movement that lasted from a few weeks to a few months. Following the consolidation phase, Bitcoin has historically entered into a bull market cycle characterised by sustained price growth and increasing investor optimism. This bull market cycle lasted from a few months to over a year, and the Bitcoin price reached new all-time highs in the process.

Nevertheless, correlation doesn't necessarily imply causation, and it's difficult to say how much influence the halving events themselves have on this pattern or if there is any at all.

(https://steemitimages.com/p/3zpz8WQe4SNGWd7TzozjPgq3rggennavDx3XPY35pEAVnpwW3JPEJJnpMB5b2aEmpJ9JRN3AS9zQG6aNA1PaeoGKj6vj28zGsuryeCwPFkCpCFopfq3C12s78x4Dtx6P8raets6XNZn4XY5ghpDc?format=match&mode=fit&width=640)
Bitcoin halving price chart

Bitcoin halving 2024 price prediction

Given the historical pattern, many hope the halving will again trigger a bullish cycle in the market and push Bitcoin to new all-time highs. At the moment, the Bitcoin price is showing a clear bullish trend. Although Bitcoin's growth is fuelled, among other things, by investors' expectations of new all-time highs due to the approaching halving, one of the key drivers of Bitcoin's current growth is still the increasing demand from institutional investors with a steady inflow of funds into Bitcoin spot ETFs.

Given the optimistic expectations of investors, as well as economic and political developments in the world, there's a possibility that as early as 2024, the price of Bitcoin could exceed the current all-time high. However, this doesn't mean there will be no corrections, possibly quite deep ones, in the process.
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on February 27, 2024, 04:50:04 PM
Bitcoin ETF trade volume sets new record

New investment products remain one of the key catalysts for Bitcoin's growth in 2024. On 26 February, a new record was set for daily trade volume, reaching $2.4 billion. Among the ETFs, BlackRock (ticker IBIT) was in the top spot, with a trading volume of $1.3 billion on that day.

(https://stormgain.com/sites/default/files/inline-images/bitcoin-etg-turnover-1.jpg)

This strong performance from new ETFs suggests high interest in the underlying asset, Bitcoin. To fully appreciate it, it's worth looking at the net capital inflows into crypto ETFs, which attracted $600 million in investments over the past week.

(https://stormgain.com/sites/default/files/inline-images/bitcoin-etg-turnover-2.jpg)

The figure could have stopped at the $1 billion mark were it not for continued outflows from the Grayscale (GBTC) fund. Its negative performance is due to a significant discount on the underlying asset in 2023, which attracted speculators, and a high management fee of 1.5% versus the 0.2% to 0.3% fee offered by other ETFs.

(https://stormgain.com/sites/default/files/inline-images/bitcoin-etg-turnover-3.jpg)

On the positive side of the story, however, the rate of daily outflows from GBTC slowed from an average of $500 million in the first week after it converted from a trust fund to a spot ETF to $50 million in the last two days.

(https://stormgain.com/sites/default/files/inline-images/bitcoin-etg-turnover-4.jpg)

In total, spot ETFs have now accumulated $6 billion in investments. Significant capital inflows have renewed talk of Bitcoin replacing gold among investor preferences. Gold ETFs currently boast $90 billion. Bloomberg analyst Eric Balchunas believes Bitcoin will overtake gold funds in less than two years.

This alone will cause Bitcoin's price to rise above the six-figure level.

(https://stormgain.com/sites/default/files/inline-images/bitcoin-etg-turnover-5_0.jpg)

Michael Saylor, head of MicroStrategy, the largest public holder of Bitcoin, also thinks the current price is low. On 25 February, MicroStrategy acquired an additional 3,000 BTC at a price of around $51,800. The company now has in its reserves 193,000 BTC purchased at an average purchase price of $31,500, with unrealised gains approaching $5 billion.

In a recent interview with Bloomberg, Saylor said he has no intention of selling assets in the foreseeable future since the cryptocurrency is competing with gold, the S&P index and the real estate market as a means of savings. He clarified that "Bitcoin is technically superior to those asset classes. And that being the case, there's just no reason to sell the winner to buy the losers".


StormGain Analytical Group (https://stormgain.com/)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on February 29, 2024, 05:54:05 PM
The total count of active Ethereum validators approaches 1 million

Despite the efforts of its competitors, Ethereum maintains its status as the leading smart contract platform. Its share of the DeFi sector has returned to growth in 2024, reaching 60.8% in terms of Total Value Locked (TVL).

(https://stormgain.com/sites/default/files/inline-images/1_38.jpg)

Ethereum is the most secure network after Bitcoin due to the large number of validators. There are currently 965,000 validators, and the milestone of 1 million will soon be reached.

(https://stormgain.com/sites/default/files/inline-images/2_35.jpg)

This year we are seeing renewed interest in staking for two reasons. First, several new projects have been launched offering tokens to replace blocked ETH. These tokens can be pledged in the same way on another platform, thereby improving the overall performance of staking. For example, since January, EigenLayer's TVL has increased 8-fold to $8.8 billion.

(https://stormgain.com/sites/default/files/inline-images/3_33.jpg)

Second, Ethereum is outperforming Bitcoin by 6.9% this year, which makes investing in cryptocurrency (including staking) even more tempting.

(https://stormgain.com/sites/default/files/inline-images/44.jpg)

Ethereum trades low bandwidth and high fees for unrivalled security. This has provided blockchains like Solana and Avalanche the opportunity to significantly expand their market presence. However, the expected Dencun upgrade in March will give a second wind to Ethereum-based Layer 2 (L2) networks. Fees are expected to drop to $0.01 or less from the current $0.2-0.3.

(https://stormgain.com/sites/default/files/inline-images/5_21.jpg)

In many cases, L2 will be preferable when choosing a platform to implement a project as security and fault tolerance will be provided by Ethereum, and speed and fees will be similar to Solana.

If Dencun makes an impact as anticipated, Ethereum may outperform Bitcoin in 2024.


StormGain Analytical Group (https://stormgain.com/)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on March 06, 2024, 02:13:27 PM
Open interest in Bitcoin hits a record $31 billion

The excitement around the world's first cryptocurrency is gaining momentum, as evidenced by a record high of $31 billion in terms of open interest (total number of outstanding Bitcoin futures or options contracts in the market). The previous record of $24.3 billion was set in April 2021.

(https://stormgain.com/sites/default/files/inline-images/open-interest-on-bitcoin-1.jpg)

The funding rate has been at record levels for at least the last six months, suggesting a significant preponderance of buyers in the derivatives market.

(https://stormgain.com/sites/default/files/inline-images/open-interest-on-bitcoin-2.jpg)

The second-highest weekly net inflows into exchange-traded crypto funds this year ($1.8 billion) also points to the high demand. Some 94% of the inflows came into Bitcoin. Record-breaking weekly inflows of $2.45 billion were registered two weeks ago.

(https://stormgain.com/sites/default/files/inline-images/open-interest-on-bitcoin-3.jpg)

This was not without a spoonful of tar in a barrel of honey – the Grayscale crypto fund, which switched from a trust to spot, experienced heightened outflows again. This is now predominantly driven by the high fund management fee of 1.5% versus 0.2–0.3% for competitors. Last week, Grayscale's GBTC posted $1.4 billion in withdrawals, and the fund has lost a total of $9 billion since the relaunch.

(https://stormgain.com/sites/default/files/inline-images/open-interest-on-bitcoin-4.jpg)

Bitcoin's potential is also evidenced by outflows from gold ETFs. Recently, investors have increasingly contrasted these assets, which have similar limited reserves and store of value status.

(https://stormgain.com/sites/default/files/inline-images/open-interest-on-bitcoin-5.jpg)

However, Bitcoin ETFs are showing much more vigour. For example, a BlackRock fund took just 39 days from launch to rack up 10 billion in investments. The first gold ETF in the U. S. took more than two years to achieve such a feat.

Price dynamics in 2024 are also not in favour of gold, which is up just 2.6% compared to 58.3% for Bitcoin.

(https://stormgain.com/sites/default/files/inline-images/open-interest-on-bitcoin-6_0.jpg)

Forecasts are being revised upward as quickly as Bitcoin breaks new records. Bitwise Chief Investment Officer Matt Hougan believes that due to strong demand, the price could reach $200k or higher before the end of this year.


StormGain Analytical Group (https://stormgain.com/)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on March 19, 2024, 04:41:35 PM
Inflows into Bitcoin ETFs decline sharply

Since February, spot Bitcoin exchange-traded funds have been the leading force on the demand side, driving over 75% of cash inflows into the cryptocurrency. On average, they've attracted $270 million each day since they launched. However, the net inflow last Thursday was $133 million and $199 million on Friday.

(https://steemitimages.com/p/3zpz8WQe4SNGWd7TzozjPgq3rggennavDx3XPY35pEAVnpmRSHfoe14Uz4b1sN61mDQAbctNUQLMk3fsYjcYjWcejF5SRYDDhVRJ3mLzGXsJ3AcVRPk6htQ4eBZBJuGvfMMErsUPzNrzPo5gQ9Kk?format=match&mode=fit&width=640)

Without a significant boost from ETFs, the price immediately began to undergo a correction since miners, whales, and long-term holders have been engaged in active profit-taking this March. The number of whale addresses (>1,000 BTC) has dropped from 2,159 to 2,081 since the end of February.

(https://steemitimages.com/p/3zpz8WQe4SNGWd7TzozjPgq3rggennavDx3XPY35pEAVnppytFidXzjVRmucEQBKc4dMQLGhpBpzM7LsXD4XyktQ4tzibvg3CEyVPjURite3cULbVkcApmmGbTvUe3pos2wT4ppPp9vd4WvZRrke?format=match&mode=fit&width=640)

We also warned on 4 March that after a relatively quiet accumulation phase, Bitcoin has moved into a growth phase characterised by corrections of 36% to 71%. It's unlikely that the new cycle will feature smaller drawdowns.

(https://steemitimages.com/p/3zpz8WQe4SNGWd7TzozjPgq3rggennavDx3XPY35pEAVnpvDpedR7ZkNAZSfjDf7VUfkPVMVSgiU9dw7Jjto5R5QDAdrRJoXNH5r717T65Y8wtvurEFN3u5GmgsieoBcSU1EShZiLzomXiX5EAkW?format=match&mode=fit&width=640)

And it's all about the spontaneous nature of Bitcoin here. In any traditional market, if the price of an asset drops by 10%, the regulator usually halts trading. But Bitcoin has no such safeguards. Its decentralised nature provides both a high level of freedom and an appropriate response to market overheating from excessive optimism.

The latter is vividly evidenced by the strongly increased funding rate, rising debt in the DeFi lending market and new record highs for open interest in the derivatives market.

(https://steemitimages.com/p/3zpz8WQe4SNGWd7TzozjPgq3rggennavDx3XPY35pEAVnpmQKfWTWUWSC4W37w4auiChzfbsHPdBy8AkrHKEJywSSDW1UhzMDCvovXEGBpokW4bvJrfdSogfF8piBQupz1KYcDHX48q1SHDvjwkr?format=match&mode=fit&width=640)

This means that when inflows into ETFs (and especially outflows) stop, Bitcoin will start correcting. The forced closure of traders' margin positions on crypto exchanges and lending platforms will cause an even bigger decline. When some ETF investors see the correction, they'll start panicking and selling off assets. All of this will lead to another chain reaction, and Bitcoin will once again be criticised for its increased volatility.

(https://steemitimages.com/p/3zpz8WQe4SNGWd7TzozjPgq3rggennavDx3XPY35pEAVnqFQhpm5DjRkJsCUAhGNW9dChrAHNHskjkL5FbQdaj46VuCHcnKaLFftTawrwbsAQmHo6dLCoZT6qv62h8794PS4E3LfL464fA99PwRp?format=match&mode=fit&width=640)

At the same time, the cryptocurrency's long-term prospects remain bright, and a potential correction in no way reduces its chances of hitting the six-figure mark as early as this year.

When planning a strategy, you should rely on the classic "buy and hold" rule, taking the MicroStrategy or El Salvador's approach as an example. Salvadoran President Nayib Bukele, who has been buying a coin a day since November 2022, said, "[El Salvador] won't sell, of course; at the end, 1 BTC = 1 BTC (this was true when the market price was low, and it’s true now)."


StormGain Analytical Group (https://stormgain.com/)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on March 25, 2024, 12:09:29 PM
Bitcoin's likelihood of a post-halving crash

When assessing the impact of the halving event on Bitcoin, most analysts rely on the emergence of scarcity that will unquestionably lead to a price increase. However, here, we'll list a few reasons why the first reaction may be negative.

Statistic

A third of the time, Bitcoin has corrected by more than 30% since the 2016 halving. There were no significant factors for a major sell-off, and the correction was an example of the old adage "buy the rumour, sell the news". The price has risen 75% since early 2016, and after the halving, it fell by 37% from the local high to $470 in two months.

(https://steemitimages.com/p/32FTXiZsHoAW6noHJDhrg3W8ZKHVFSsLYM859aTDCF8iErY14WLzt8199HY58zccyNaqMuUorcwSHjXPWH1ZVRbjARq79XfqGB8zyzX5nwjofdisDUAq2CwotqYVkQ4E9UAnMXZcewE35zVk?format=match&mode=fit&width=640)

The price is up 74% this year, similarly encouraging a number of players to sell in order to lock in profits. The last time the "buy the rumour, sell the news" principle was put into action was on the approval of spot Bitcoin ETFs, with the price correcting 21% to $38,500.

(https://steemitimages.com/p/32FTXiZsHoAW6noHJDhrg3W8ZKHVFSsLYM859aTDCF8iErPTHyXH5DRpT2CgFBFjBYbB5YzL4B3TupuKzPJEpD6GGo3XBJfdyRMkCzzMbUY6L85esF2Judf2EntCRGA4rk1DFSugTPiEDkGe?format=match&mode=fit&width=640)

Halving compensation

What makes this fourth halving different from previous ones is that, firstly, Bitcoin has reached an all-time high ahead of the event, and, secondly, a 'Bitcoin hoover' has appeared in the form of ETFs. The halving represents an ultimate reduction in incoming supply, but ETF investors are just as subject to emotion as other market participants.

They have now accumulated $11.3 billion worth of Bitcoin, thus anticipating the upcoming deficit and ensuring the coin's rise to a new high. But what happens to the price if funds start actively unloading reserves? If that happens, they would offset almost all of the good momentum from the halving in the short to medium term.

The price is already under pressure as whales, miners and long-term holders lock in profits. Meanwhile, spot ETFs have seen net outflows for the fourth day in a row now. These are excellent prerequisites for the correction to continue.

(https://steemitimages.com/p/32FTXiZsHoAW6noHJDhrg3W8ZKHVFSsLYM859aTDCF8iErLpTtWyLvQVXpc2wp71qr8gPxnHR6sVZi7QBmJYGeQxMV6edfNF9wwyLD1heg5hedwLHkpKJT4rdVPKagUHNotjHckgXHHgTqmp?format=match&mode=fit&width=640)

The impact of miners

This time around, competition among miners is at an unprecedentedly fierce level, with almost a third of the network hashrate being provided by publicly traded mining companies. To appreciate the gravity of the situation, one only needs to look at the yields from a terahash of power, which are increasingly lagging behind the price.

(https://steemitimages.com/p/32FTXiZsHoAW6noHJDhrg3W8ZKHVFSsLYM859aTDCF8iErDDazmchLvUh68eMWJPQG4TDhGFS5SZ5uvd4na62jQum5sUCLDZLWBBf3XnUiqnJomhs8bociro5WFRURQxPh4UcUv9owKiYT3c?format=match&mode=fit&width=640)

If the correction drags on, most miners will ramp up the sell-off of their resolves due to falling revenues as a result of the halving, which CryptoQuant analysts estimate at 1.8 million BTC or $119 billion. Even if only a tenth is sent to market, it would have a significant negative impact.

Conclusion

Halving certainly has the long-term positive effect of reducing the flow of fresh supply, but in the first few months after it occurs, the market reaction may be negative. If all of these risks take place, the price may roll back to $45,000.


StormGain Analytical Group (https://stormgain.com/)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on March 26, 2024, 02:12:04 PM
Avalanche takes a wrong turn

Every network that supports smart contracts is looking for its own niche. For example, Polkadot relies on developers to create a user-friendly and functional parachain-based environment. Ripple is bringing distributed ledger technology to traditional finance by offering governments a turnkey service to create central bank digital currencies (CBDC). Avalanche, on the other hand, took the controversial route of focusing on meme coins.

The attitude toward meme coins has been ambiguous in the crypto space and more so among regulators who have banned the circulation of these coins in certain countries. The issue is in the lack of a useful payload and high speculative interest. The meme coin boom can overwhelm some networks and cause significant increases in fees in others.

For example, due to the emergence of ordinals (a protocol that allows quasi-tokens to be minted and exchanged) in the Bitcoin network, the average transaction fee jumped from $2 to $31 in May and to $37 in December.

(https://steemitimages.com/p/2r8F9rTBenJQfQgENfxADE6EVYabczqmSF5KeWefV5WL9WD8d4XLckZrfZ9dDAERyYMAN8ba151zHg42q1Z5PxuZf9R38L1282Scog65zLUC69DxmSDfzo6Y8FovSN7ci?format=match&mode=fit&width=640)
Image source: bitinfocharts.com

On Solana, the hype around meme coins has reached the point where several thousand new tokens have been minted a day since December. At first, users experienced delays in transaction processing. Then, on 6 February, the blockchain stopped for 5 hours.

(https://steemitimages.com/p/2r8F9rTBenJQfQgENfxADE6EVYabczqmSF5KeWefV5WL9WPtRhSF6dG1sUppr6mHFmDPQwcMcpDHrAEgsfugWuLeXkR4DydByn4uG9rQc14u7V4BdFks6DsY4Jo5xPczr?format=match&mode=fit&width=640)
Image source: analytics.solscan.io

Most networks view such bursts as a necessary evil, calling what happens a stress test. Avalanche, on the other hand, decided to open the doors to meme coins by rewarding users for being active and purchasing coins for their own fund as part of their Culture Catalyst programme.

"In particular, we note that meme coins generally have high community value because of the engagement, community spirit, and culture that they engender, which goes beyond the humour and virality that they embody".

Last week, the team allocated $1 million to reward users. These funds will follow a complex bonus scheme to reward activity with the following coins: COQ, KIMBO, NOCHILL, GEC, TECH, HUSKY, MEOW, KONG, MEAT and KINGSHIT (see detailed terms and conditions - https://joecontent.substack.com/p/a8688a75-92ad-4a31-9415-5cd57b93f68d).

The ambiguity of Avalanche's policy is that many crypto participants (if not most) characterise such assets as nothing more than "shitcoins". For example, to get on the Culture Catalyst list, the age limit is limited to just a week (see a full list of requirements - https://www.avax.network/blog/avalanche-foundation-eligibility-criteria-framework-for-community-coins).

It's obvious that Avalanche is trying to reach Solana's figures with similar programmes. However, in terms of the number of active addresses, the network has seen a decrease compared to the previous year.

(https://steemitimages.com/p/2r8F9rTBenJQfQgENfxADE6EVYabczqmSF5KeWefV5WL9WRWM7w5crgSrHCHaGwDbrr6hU5xFHDmfPpMkjKWJgc5mWimuBoT16f5BiyoEQcBctDvq5mEAwfNivRZsYAfG?format=match&mode=fit&width=640)
Image source: avax.network

What's more, buying quasi-tokens with the fund's money in the long term lays a bomb under the sustainability of the underlying AVAX token since most quasi-tokens fail.

(https://steemitimages.com/p/2r8F9rTBenJQfQgENfxADE6EVYabczqmSF5KeWefV5WL9WQsox7sx9x2BmPzkXmFm2UGWXz2s89P3NqnhGc9QUWbL6UdUxPJtMnZ3D8ZaVeb72kaKv2bFEoFGUveePbzN?format=match&mode=fit&width=640)
Image source: StormGain Cryptocurrency Exchange

AVAX has only risen 42% this year, lagging behind both Solana and Ethereum. If developers continue to emphasise meme projects, this gap is very likely to widen.


StormGain Analytical Group (https://stormgain.com/)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on March 27, 2024, 10:59:26 AM
Volume of accumulated Bitcoin hits a new high

Last week saw a record net outflow of $942 million from ETFs, with Bitcoin accounting for 96% of those funds. In a note to investors on 21 March, analysts at JPMorgan noted the cryptocurrency was overbought and risked a continued correction.

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Image source: coinshares.com

Investors' decision to sell was influenced by the desire among long-term holders, whales and miners to take profits in March after hitting a new record high for Bitcoin.

(https://steemitimages.com/p/TZjG7hXReeVoAvXt2X6pMxYAb3q65xMju8wryWxKrsghkMPZ6KywGfTJnRo2q3jh1H8kyPUzEytcrucrF4w4pdaQH5aunBy2UsSEjyzjkTyaYmuamfe9wnDSht5qmESNfpt2PvkATxrN6z?format=match&mode=fit&width=640)
Image source: StormGain Cryptocurrency Exchange

However, by the end of last week, the mood had dramatically changed, and while crypto funds continued to show cumulative outflows, cryptocurrency exchanges saw an increased withdrawal of coins to cold wallets. This is one of the signs that market participants are unwilling to part ways with coins at current prices.

The outflow from Coinbase sharply accelerated in March, shrinking the crypto exchange's reserves to 344,900 BTC (excluding institutional assets). This is a level last seen in 2015. The total reserves across all crypto exchanges also dropped after rising earlier in the month. That figure is now 1.98 million BTC.

(https://steemitimages.com/p/TZjG7hXReeVoAvXt2X6pMxYAb3q65xMju8wryWxKrsghkPgB6ntbjxSyw2ZvjAVNhZdxYpPXetnGDb7YkjesYQGgXnQbxk2htd48KH56H8TCcnsp5BMuRXMSBhybZDH2WE2matrhTKduev?format=match&mode=fit&width=640)
Image source: cryptoquant.com

However, a tendency to hodl was most clearly seen in accumulation addresses, which set an inflow record on 22 March of 25,300 BTC. The signs of an accumulation address (miner and crypto exchange addresses are excluded) include:

- The absence of outgoing transactions
- More than two incoming transactions
- The latest activity taking place within the past seven years
- A balance of over 10 BTC.

(https://steemitimages.com/p/TZjG7hXReeVoAvXt2X6pMxYAb3q65xMju8wryWxKrsghkPWbZDH29bi5qYCiyK4WwA78tHNXAZgB3F7Lu8HCibc2pmCdoyaUNpjuTDFkJQqUg2LYzqDEygctE1wt9mW9czeM4jAH228f4S?format=match&mode=fit&width=640)
Image source: cryptoquant.com

If we break down cohorts into groups, whales and sharks have moved back to accumulating Bitcoin. They're responsible for the significant loss seen in stablecoins' reserves.

(https://steemitimages.com/p/TZjG7hXReeVoAvXt2X6pMxYAb3q65xMju8wryWxKrsghkPJnJXWJ3Couty8K1s924WHbZc9rEBi8QXrR4jXBPditJpRkDkNH86XPfhcLBYFvas7QPPzqD5eFKnvVbJv32Du6Z18YL3rL4e?format=match&mode=fit&width=640)
Image source: twitter.com/santimentfeed

In February, BTC's price was boosted by significant inflows into spot ETFs, which faded by mid-March. However, there was no significant sell-off since other market participants quickly moved from taking profits to accumulating coins.

(https://steemitimages.com/p/TZjG7hXReeVoAvXt2X6pMxYAb3q65xMju8wryWxKrsghkLR61LUHkZ87KWVYbxsD99LmgWtXbyDGekypzZPVKbeEfTxcHupmhWWhFWMt4hmTayHtT6JsUPzKbqrmXdieFC63TKmHrQo1Pk?format=match&mode=fit&width=640)
Image source: StormGain infographic

Despite the price 'prematurely' reaching an all-time high, most crypto enthusiasts believe that Bitcoin is very likely to keep going higher. Anthony Scaramucci, the founder of Skybridge Capital, give investors an interesting piece of advice on how to keep their nerves at bay with the sharp price changes:

"Act like you're dead with your bitcoin and don't sell your bitcoin".


StormGain Analytical Group (https://stormgain.com/)
(platform for trading, exchanging and storing cryptocurrency)
Title: Re: StormGain is a crypto trading platform for everyone.
Post by: stormgain on March 29, 2024, 12:25:47 PM
Arguments for Bitcoin's upcoming rush on $80,000

Yesterday, we cited the actions of sharks and whales that have returned to accumulating coins as a source of support for continued growth. Today, we'll look at some more arguments that hint at Bitcoin setting a new price record.

Crypto ETFs

Last week, spot ETFs saw net outflows of $888 million. The reason was increased withdrawals from the Grayscale fund due to high management fees and lower inflows into the other funds.

(https://steemitimages.com/p/9vWp6aU4y8kwSZ9Gw15LFL3aMdhmgmBBFMpDJregpdP328YQcUzPb7wCBX5sRwHfyt3zjVQLLk2PwCHEV2idhS67VndqG7HXm6efUzohawgLanHMwVEJi9swWobecna1WyQNGwZ4qr1YFxanz?format=match&mode=fit&width=640)
Image source: twitter.com/biancoresearch

However, yesterday, interest in Bitcoin from ETF buyers returned with renewed vigour at $418 million. This is significantly better than the average of $225 million. Most analysts believe that the trend will intensify over time since institutional players still haven't begun trading in the new instruments, and the main flow of funds is coming from retail investors.

(https://steemitimages.com/p/9vWp6aU4y8kwSZ9Gw15LFL3aMdhmgmBBFMpDJregpdP328vX2igpJcscHajkQTsw5ZSyCJ44rPwKptwi9h6RK4mgNH2gvMawcJgab9d9Jd2S2RY4sVgdHDQd9qyAYpyDTfAr96un7DrbPyv2S?format=match&mode=fit&width=640)
Image source: StormGain infographic

Low activity on the spot market

The main battles between bulls and bears are taking place in the derivative contracts market, which accounts for 70% of total trading volume. The market depth (the volume of placed orders on both sides of the price) on Bitcoin has finally approached the pre-crisis level.

(https://steemitimages.com/p/9vWp6aU4y8kwSZ9Gw15LFL3aMdhmgmBBFMpDJregpdP328PtcFMc7JwiTCdHR73yDE7WUn6dkekQztCdSFsMBonRShkfN2ucfjvBQUDACNabeKSjTDwDcm46WibbfG3N2mo5CU7LAtZh7seea?format=match&mode=fit&width=640)
Image source: kaiko.com

That said, of those who directly own Bitcoin, there are still few people willing to part with the coins at current prices. This is clearly seen by the volume of transfers within the network. If it exceeded $1 million on average per week in the previous bull cycle, it now doesn't even reach $200,000.

(https://steemitimages.com/p/9vWp6aU4y8kwSZ9Gw15LFL3aMdhmgmBBFMpDJregpdP328zFjqqxNMm2hdSmk87yKca1q1yWtHJWsyp5HCUHHk3gY7gzBcbWCxQZpQJQbTEYw2EnbsLyxCvh6vSjmnrngJnovTUL9TZvHE9zv?format=match&mode=fit&width=640)
Image source: glassnode.com

Lack of response to negativity

Bitcoin's institutionalisation has proved to inoculate it against the problems of individual market participants. The arrest of Binance's top managers in Nigeria and yesterday's indictment of the KuCoin crypto exchange and executives (the exchange's annual volume exceeds $1 trillion) by the US Department of Justice for criminal offences did not affect the price.

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Image source: StormGain Cryptocurrency Exchange

In the world's largest economy, Bitcoin is now an investment asset and a commodity that investors can access through licensed exchange-traded products. This made the connection to cryptocurrency exchanges more indirect.

Long-term factors

At its last meeting, the Fed reaffirmed its intention to cut its key interest rate by 0.75% in three rounds this year. The first adjustment could take place as early as June. This will reduce demand for Treasury bonds and increase interest in risky assets such as Bitcoin.

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Image source: twitter.com/EricBalchunas

In mid-March, JPMorgan reported that volatility-adjusted Bitcoin was already outperforming gold in investors' portfolios by 3.7 times. This clearly demonstrates the outperformance of the two Bitcoin ETFs over the gold (and any other) ETF in terms of investment volume in the first 50 days of trading since launch.


StormGain Analytical Group (https://stormgain.com/)
(platform for trading, exchanging and storing cryptocurrency)