Crypto VIP Signal

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

2024-03-10 12:20:59 BONK has been continuing its uptrend and our long position has generated a peak profit of more than 378% from the time of our entry. You have the option to either book full profit or hold onto the position with a tight stop loss. It's important not to succumb to FOMO and open a new long position at this point. Open / Comment

2024-03-10 08:06:58 Bitcoin is slowly approaching the $70,000 mark. If the price can close above $70,000, we could see a move towards the $75,000 level. The current support level is between $64,000-$65,000. Open / Comment

2024-03-09 21:28:58 QNT analysis:

Price tried to break above the resistance area but was rejected from there. We may see a move towards the support area and this is the zone for new entries. A break above the resistance area will send the price towards the next resistance area.

Support Area: $95-$100

First Resistance Area: $125-$131

Second Resistance Area: $147-$153 Open / Comment

2024-03-09 17:32:02 Educational Post

What Is Total Value Locked (TVL)?

The TVL measures the total value of assets deposited in a particular decentralized finance (DeFi) protocol. It's also possible to calculate the TVL of the entire blockchain ecosystem by aggregating the TVLs of all the different DeFi protocols on that blockchain.

To better understand TVL, imagine that you deposit $1,000 into a DeFi protocol that allows you to earn interest on your deposit. Your $1,000 is now locked or staked in the protocol. Now, if ten other people also deposit $1000 each into the same protocol, the TVL of the protocol becomes $11,000.

How to Calculate TVL

TVL is a way to quantify the level of activity and adoption within a DeFi ecosystem. To calculate TVL, determine the total value of all assets currently locked on that platform. This includes all locked assets, such as collateral, staked, and borrowed assets.

Then convert the value of the assets to a standard unit, such as USD or another fiat currency. Finally, add the total value of all assets to determine the TVL of the DeFi protocol.

Data aggregators are popular sources for tracking TVL in DeFi. These platforms collect data from various DeFi protocols and aggregate it into a single dashboard, making it easy to track the overall growth and adoption of the DeFi ecosystem. Open / Comment

2024-03-09 16:01:53 As on-chain flows indicate a surge in speculation, derivative markets have mirrored this trend. The collective Open Interest in futures markets has surged to $21 billion, marking a significant rise. Notably, only 84 out of 1195 trading days, accounting for 7%, have surpassed this value. Moreover, the USD denominated value of open futures contracts is nearing the peaks witnessed during the most exuberant periods of 2021. Open / Comment

2024-03-09 11:17:59 The price of AMB has continued to rise as anticipated. Our long position has yielded a profit of over 75% since we entered the market. It is advisable to take some profits at this point and maintain the rest with a trailing stop loss. The current price is struggling to sustain above the resistance area, and we may see a test of the resistance area again.

Next Resistance Area: $0.019-$0.020 Open / Comment

2024-03-09 10:30:55 UFT pumped as expected and price made a high of $0.59 today. That is more than 29% profit from our entry. You can hold the position with trailing stop loss for maximum profit. Pin our channel on top to never miss a signal and share it with your friends and family and earn together. Keep Earning Open / Comment