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Author Topic: StormGain is a crypto trading platform for everyone.  (Read 103004 times)

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Re: StormGain is a crypto trading platform for everyone.
« Reply #150 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.



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.



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.



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).



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.


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Re: StormGain is a crypto trading platform for everyone.
« Reply #150 on: April 11, 2022, 11:05:51 AM »

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Re: StormGain is a crypto trading platform for everyone.
« Reply #151 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.



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.



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.



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!


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Re: StormGain is a crypto trading platform for everyone.
« Reply #152 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).



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.



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.


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Re: StormGain is a crypto trading platform for everyone.
« Reply #153 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.



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.



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.



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.



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.


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Re: StormGain is a crypto trading platform for everyone.
« Reply #154 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?



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.



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.



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.



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.



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.


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Re: StormGain is a crypto trading platform for everyone.
« Reply #155 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.



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.



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).



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.


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Re: StormGain is a crypto trading platform for everyone.
« Reply #156 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!

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Re: StormGain is a crypto trading platform for everyone.
« Reply #156 on: April 18, 2022, 04:46:53 PM »


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Re: StormGain is a crypto trading platform for everyone.
« Reply #157 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.



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.



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.


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« Reply #158 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?



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?



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.



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.



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.



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.


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« Reply #159 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. 



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.



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.



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.



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.


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« Reply #160 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.



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.



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.



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.



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!


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« Reply #161 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.

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Re: StormGain is a crypto trading platform for everyone.
« Reply #162 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.



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.



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.



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.


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« Reply #163 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.



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.



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.



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.


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Re: StormGain is a crypto trading platform for everyone.
« Reply #164 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.



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.



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.



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.



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.


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