Crypto VIP Signal

2024-03-15 09:49:00 As anticipated, Bitcoin's rising wedge pattern was broken in a downward direction, leading to a decline in its value. BTC was unable to maintain the $69,000 support level, indicating that a correction was necessary. BTC had been rising consistently without any retracement, and a period of sideways movement may occur in the next few days before the next significant movement. This is why we advised you to use tight stop-loss in all open positions.

Support Area: $64,000-$65,000

Resistance Area: $69,000-$70,000 Open / Comment

2024-03-14 20:38:00 YFI analysis:

The current price is attempting to remain above the resistance area. If it manages to stay above this level, we can expect the uptrend to continue. It's advisable to wait for a candle to close above the resistance level before opening new long positions. Open / Comment

2024-03-14 15:59:59 BAL has broken the resistance area and also retested it. If you opened long positions on the retest, you would have made more than 28% profit. You should increase your stop loss and hold the position. The price is currently testing the resistance area, and if it is able to break above this level, we can expect to see a continuation of the upward movement.

Resistance Area: $6.00-$6.20

Next Resistance Area: $7.15-$7.60 Open / Comment

2024-03-14 14:01:01 As Bitcoin ventures into new territory, it also enters what some call the "euphoria zone," marked by shifts in mood and behavior. According to Glassnode's on-chain data, Bitcoin's Realized Cap, which measures the total wealth stored in the network, has surged to $504 billion, with a $40 billion increase in March alone. Open / Comment

2024-03-14 11:13:59 1INCH is continuing its upward movement, just as we expected. Our long position has given us a profit of over 19% since we entered the market. It is recommended that you increase your stop loss and hold the long position. The price has tested the resistance area, and we may see another test of this area soon.

Resistance Area: $0.675-$0.70 Open / Comment

2024-03-11 15:20:01 MicroStrategy has bought another 12,000 BTC for approximately $821.7M, using funds from convertible notes and excess cash, at roughly $68,477 per bitcoin. As of March 10, 2024, Now MicroStrategy holds 205,000 BTC acquired for around $6.91B, with an average price of $33,706 per bitcoin. Open / Comment

2024-03-11 13:20:22 this represents an on-balance, and back of the envelope net capital inflow into Bitcoin of around $267M/day (−49+17+299). This represents a meaningful phase shift in market dynamics and a valid explanation for the market's rebound towards new ATHs. Open / Comment

2024-03-11 09:35:46 Bitcoin was unable to break above the $70,000 resistance level and retested the support line, indicating a possible retest of resistance. Overall, the market is bullish, and trader sentiment is positive. Open / Comment

2024-03-10 21:26:59 WAXP analysis:

The price has broken above the resistance area and is currently attempting to maintain its position above it. If the candle closes above the resistance area, it will indicate a bullish trend and we can expect the upward movement to continue. You can consider opening a long position near the support area while keeping a tight stop loss.

Support Area Now: $0.0856-$0.089

Resistance Area: $0.106-$0.11 Open / Comment

2024-03-10 16:27:01 Educational Post

What Are SRC-20 Tokens?

SRC-20 tokens are tokens that utilize the Bitcoin Stamps technology to attach data to Bitcoin. The SRC-20 token standard expands the utility of the Bitcoin network, enabling the creation of fungible assets. It’s likened to the BRC-20 token standard, but the two have several distinct differences. Now, let’s take a look at how SRC-20 tokens work.

How Do SRC-20 Tokens Work?

Through the use of Bitcoin Stamps, which inscribe data onto unspent transaction outputs (UTXOs), SRC-20 tokens ensure immutable data storage. This allows for the creation of tokens that run parallel with Bitcoin's native coin, with transaction fees paid in BTC, while offering similar functionality to other token standards such as BRC-20.

BRC-20 vs. SRC-20

While both BRC-20 and SRC-20 token standards increase the utility of the Bitcoin blockchain, they rely on different methods. Let’s take a look at the key differences between BRC-20 and SRC-20.

Data storage

SRC-20 tokens utilize the Bitcoin Stamps protocol, allowing information storage directly on UTXOs on the Bitcoin blockchain. In contrast, BRC-20 tokens use the Bitcoin Ordinals protocol, which stores information in the witness data. While details in the witness data can be modified by a syncing mode, Bitcoin Stamps data can’t be pruned.

Data pruning

SRC-20 token data stored on UTXOs can’t be pruned, ensuring immutability and permanence. On the other hand, data attached to Bitcoin ordinals can be pruned by nodes, potentially affecting data longevity.

Transaction costs

SRC-20 tokens offer flexible data storage, letting creators attach data of arbitrary sizes. However, larger data sizes result in higher transaction fees. BRC-20 tokens impose restrictions on information size, ensuring standard transaction costs. Additionally, BRC-20 token data is stored in the Witness section of a transaction. That contributes to cheaper transaction costs.

Adoption

BRC-20 tokens have experienced wider adoption, being listed on centralized exchanges, and multiple protocols are developing technologies to embrace them. In contrast, SRC-20 tokens are still in their early stages, with limited wallet and protocol integration. Open / Comment