LibreCharts

2021-04-28 09:18:36 Monero is Always a Great Bet With the Markets Trending Downward Slight consolidation in the overall crypto markets at the time of writing (positions starting to draw down a little bit - wouldn't panic sell anything though [not advice]). Monero is up at… Open / Comment

2021-04-28 09:18:10 Monero is Always a Great Bet With the Markets Trending Downward

Slight consolidation in the overall crypto markets at the time of writing (positions starting to draw down a little bit - wouldn't panic sell anything though [not advice]).

Monero is up at the same time, however (proving to always be the market's hedge in these types of situations)

Current price of Monero is hovering around $420. Open / Comment

2021-04-28 07:20:40 Correction - "As of right now , that Trust is actively trading" ; the 'Trust' isn't "trading", its just open for investment.

There is a one-year mandatory holding period for all investors in the Trust before they're able to trade the shares on an applicable market (i.e., OTCQX, over-the-counter exchange) Open / Comment

2021-04-28 07:20:40 Speaking of Decentraland

If folks are looking for strong / underrated projects to add to their 'watchlist', $MANA is definitely one (this doesn't mean "watch" as in 'buy'; please read)

Here are a few quick facts:

1. Decentraland is owned by the Digital Currency Group cabal (i.e., Fred Ehrsam [Paradigm + co-founder of Coinbase], Boost VC [owned by DCG], Barry Silbert [as an individual], Digital Currency Group & several other high-esteemed firms / entities peripheral to the blockchain space)

2. Grayscale recently created a trust for Decentraland. As of right now, that Trust is actively trading. In the last 24 hours, Grayscale purchased 20k+ more units of $MANA for the fund, for a total of 100k+ over the past 7 days.

What you just above seems bullish, but that's not even the full extent of how bullish it probably is.

Grayscale Inadvertently (Intentionally) Pushing Up Price of $MANA

- Currently the price per share of Grayscale's Decentraland Trust = $12.68

- If we visit Grayscale's site directly, we can see that each share is supposed to contain 9.958987036 $MANA / share

- According to CoinGecko, $MANA's current floating price = $1.38

If we do the math, 9.958987036 ($MANA per share) * $1.38 (price per $MANA) = $13.74

That's more than what Grayscale's $MANA shares are going for currently ($12.68).

In fact, the current market value for Decentraland is >8.3% greater than what the $MANA Trust is being offered at.

According to the Grayscale site, the final NAV prices for that specific Trust are, "calculated daily at 4 pm ET, based on a TradeBlock MANA Index 24-hour VWAP".

More Information

Here's the $MANA Trust fact sheet from Grayscale's website - https://grayscale.com/wp-content/uploads/sites/3/2021/04/mana-trust-fact-sheet-april-2021-1.pdf

According to them, the asset has appreciated by >300% in the two months since the Trust was initiated (Trust start date was Feb. 26th, 2021). Open / Comment

2021-04-28 07:20:40 Ethereum's Low Fees Proved Beneficial for Uniswap

This only makes sense, right?

One of the things holding dAPP platforms back on Ethereum were the exorbitant gas fees users had to pay just to complete 'small' activities.

$MANA is a great example of this. If you've been subscribed to this channel for a little while, you probably remember one post showing a screenshot from a user in the $MANA subreddit showing a $1k+ fee they would've had to pay in order to put some digital property (within the minecraft-esque game world) up for sale on the blockchain.

The link to that post can be found here = https://t.me/librehash/27821

Obvious Result Was Decreased Activity For Those Platforms

Specifically, platforms like $MANA got the super short end of the stick when it came to high $ETH gas fees, because unlike DeFi / NFT, the novelty of the project is not necessarily in the money that can be made from it but rather the entertainment value of Decentraland's virtual reality.

So if the cost for indulging in said enjoyment is going to be north of $1600, most users will probably choose to opt out (and they did). Open / Comment

2021-04-28 07:20:39 Resource For Checking Up on Gas Rates

One of the better websites to use is 'gasnow.org'

They provide gas prices that update as new blocks are submitted (without you having to refresh the page).

Additional Perks:

1. The rates for confirmation for 'rapid', 'fast', 'standard', and 'slow' (all at once)

2. If you're like most people, you may not be able to automatically appreciate what it means for the gas rate to be "high" on Ethereum. Fortunately, this site uses the latest gas rate estimations to provide approximate costs for various activities in the Ethereum ecosystem (i.e., simple $ETH transfer, Uniswap 'swap', adding liquidity on a DeFi protocol, creating an NFT on OpenSea.io etc.)

3. They show historical data for gas fees in different formats (line charts, heat maps, etc.)

4. Provides free public API

5. Has Chrome & Firefox extensions as well as Android + iOS app store placements.

6. The site is aesthetic & modern, making the data easy to consume without feeling like you're doing university work.

The site in general is low load. Its completely free, secure (TLS 1.3), and has no advertisements either.

There are probably some flaws with the site or its attached services somewhere (nobody is perfect), but this appears to be a really solid resource for those looking to get a quick rundown on the state of the Ethereum protocol without feeling like they need to be a full-blown blockchain analyst. Open / Comment

2021-04-28 07:20:39 Here's a chart that breaks down the average gas rate (rapid/fast TX) for April and March (including each individual day).

From April 24th - 27th (today), Ethereum has been able to enjoy average gas rates <100 GWEI for the first time in a long time. Open / Comment

2021-04-28 07:20:39 Ethereum Raising the Gas Limit Was a Gamechanger

If you’re not in the loop, miners voted to increase the GWEI limit / block from 12.5M to 15M (+20% increase).

More details about the change can be found in this CoinDesk article = https://www.coindesk.com/ethereum-gas-limit-eth-price-soars

That's why the gas rates have been dirt cheap for Ethereum over the past 3-4 days. Open / Comment

2021-04-26 06:42:57 Out of the $10 billion in total liquidations that occurred on April 17th, 2021 (the prior weekend during that sell-off with the fake Treasury indictment news and the bogus claims about a mine explosion impacting miners in Chain), Binance accounted for $5B of those liquidations.

Specifically, 94% of said liquidations were on longs.

And as we all know, users were not allowed to log back into the platform to meet their margin calls, close positions or cover their longs with hedged short bets.

Thus, Binance guaranteed that they would come out victorious. Open / Comment

2021-04-26 06:40:11 Additionally, "From a psychological standpoint, bull traps occur when bulls fail to support a rally above a breakout level, which could be due to lack of momentum and/or profit taking."

However, in our case, there's some pretty direct evidence that this sudden dump in the markets generated quite the profit for some (namely, Binance) Open / Comment