Crypto Portal

2023-06-08 17:30:56 Reasons behind MATIC’s decoupling from market trends

Several cryptocurrencies rebounded on June after a price correction, but Polygon’s [MATIC] actions were different. According to CoinMarketCap, MATIC’s price declined by more than 14% and 5% in the last week and the past 24 hours, respectively.

Santiment’s latest tweet pointed out a possible reason behind this price trend. However, there was something else to look forward to, as a key metric suggested a trend reversal in the coming days.

Selling pressure on Polygon increases
Santiment’s tweet posted on June revealed that the big players in the crypto space were actually selling their MATIC holdings. About 115 million MATIC were moved to exchanges in one shot.

As per the tweet, the latest setback appeared to be a $95 million transfer from a whale’s cold wallet to Binance. The increase in selling pressure resulted in a further price drop.

At the time of writing, MATIC was trading at $0.7627 with a market capitalization of over $ billion, making it the 10th largest crypto.

Santiment’s chart suggested that the selling pressure was still on. Polygon’s supply on exchanges increased while its supply outside of exchanges went down. Additionally, the supply held by top addresses also declined, suggesting that investors were selling.

Is a trend reversal possible?
While the aforementioned metrics looked bearish, CryptoQuant’s data revealed a bullish metric. As per the data, MATIC’s Relative Strength Index (RSI) was in an oversold position.

When RSI becomes oversold, it is generally followed by an increase in buying pressure. However, apart from RSI, the other metrics continued to be bearish.

For instance, MATIC’s exchange reserve was increasing, while daily active addresses declined. MATIC’s MVRV Ratio plummeted sharply. This, coupled with the rise in 1-week price volatility, suggested a further price drop. Open / Comment

2023-06-05 19:00:33 Bitcoin Ordinals and the mystery of the ‘cursed Inscriptions’

Bitcoin Ordinals developers implemented the “first steps” in addressing the challenges associated with ‘cursed Inscriptions’ on the network. The name cursed Inscriptions refers to the unrecognized assets incorrectly created due to the misuse of opcodes to inscribe assets on satoshis.

A fix could be underway
According to the version 0.6.0 upgrade, the rollout would ensure the authentication of a Bitcoin username and password. In addition, the upgrade would allow zero-sat transactions to be unbonded from Inscriptions.

In April, Ordinals creator Casey Rodarmor proposed to make the cursed assets tradable. But Rodarmor has since stepped down. And the released upgrade added that Raphjaph, one of the developers, has been promoted to lead maintainer.

Leonidas.og, who is the builder of the project on Bitcoin Ordinals, as well as a BRC-20 token, also shared some insights on the development.

According to the creator, the transformation of the over 70,000 cursed Inscriptions into blessed ones would tow towards positive Inscription numbers. He pointed out:

If a new edge case is found and a new type of Cursed Inscription is added, the existing Cursed Inscriptions will be reindexed and the new Cursed Inscriptions will be inserted which will shift around the negative inscription numbers. Everyone holding Cursed Inscriptions should expect the negative inscription numbers to be shifted. Open / Comment

2023-06-02 18:30:49 Bitcoin: New holdings spike; good news ahead?

Several analyses centered on Bitcoin of late have unanimously agreed that the king coin was in the middle of an accumulation phase, with most long-term holders exhibiting a lack of desire to sell their holdings.

However, a recent study by Glassnode revealed that this trend might be nearing its inflection point. The percentage of Bitcoin supply transacted in the last three months increased from 11.5% to 21.4% in May, an exponential increase of 86%.

This meant that there was a noticeable transfer of Bitcoin from longer-term investors to newer participants, suggesting bullish market trends.

Bitcoin supply that is less than three months old is typically considered as highly mobile, liquid, and most likely to be spent during periods of volatile price swings. Also referred to as “young coins”, this supply increases in volume during a bull market phase when long-term holders start to sell and take profits. As indicated below, the supply swelled up considerably in May.

But does that really mean “diamond hands” have locked in gains?

As per the graph below, BTC’s supply older than six months has grown from a share of 75% at the beginning of May to 78% at the time of writing, indicating the lack of willingness of long-term holders to sell. Open / Comment

2023-06-02 15:00:05 Take your Cryptocurrency analysis to the next level

For years, exchanges have been faking their trading volume data to attract users. We came up with a series of graphs which will help you to determine wether liquidity in orderbook is good enough. Soon, we will release more advanced tools

Our channel has selected the most useful tools in the trading terminal:

- Find cryptocurrency arbitrage opportunities with Arbitrage data
- Depth Chart from 5 sites simultaneously to trade from large whale orders in orderbook
- VWAP tool helps to reduce slippage loss to minimum
- Trading volume distribution is a tool that detects important levels on the price chart of popular tokens

To integrate top tools into your analysis, start using the Dexilon Trading terminal

You can explore guides on all of the tools in the terminal in the Exchange's Telegram Channel

At the moment the terminal is absolutely free. Also the exchange is planning to launch a lot of trading contests and drawings. Open / Comment

2023-05-30 21:30:01 ApeCoin Price Prediction – A reversal on the cards?

ApeCoin [APE] holders surged by about 20% in Q2 of 2023, compared to Q3/Q4 of 2022. However, the renewed interest hasn’t impacted the token’s price performance in Q2. So, an ApeCoin price prediction is necessary.

A previous Messari report on ApeCoin’s Q1 2023 noted that the token could see improved traction if it gets more utility beyond its DAO.

The report bets wholesomely on Otherside, another ambitious Yuga Labs venture that promises to use APE in future projects.

But, how have long-term holders fared in Q1, and what should they expect in Q2? Let’s explore the daily charts for some answers.

APE Price Prediction: Q1 vs. Q2 2023
At the peak of the January 2023 rally, APE posted over 75% gains, rising from $3.6 to $6.4. The $6.4-level was also a price ceiling in September 2022, with APE seeing a price rejection at this level.

Based on overall Q1 2023 price performance, APE rallied by about 17%, closing at $4.18 on 31 March after reversing most of January’s gains in February/March.

Since mid-March, price action has traded within a range, oscillating between 3.7 and 4.5. This further constrained positive price gains.

APE dropped below the range in early May after BTC lost hold of the $29k-level and fell below $28k and 27k, only to settle at $26k before attempting a rebound. Open / Comment

2023-05-27 17:30:44 Free AI tools for content creation

Artificial intelligence [AI] is no longer futuristic technology. The creator economy is reshaping marketing and commercial strategies, with more and more creators turning to AI to create content across verticals.

The creator economy has risen even higher because of the rapid advancement of AI technology, which has expanded the industry’s potential and made it easier and economical for creators to make better content.

Let us look at five free AI tools you can leverage to create content easily, efficiently, and quickly:

Copywriting with Copy
Copy provides a variety of tools that are specifically developed to help with varied copywriting demands. These programs generate text using artificial intelligence and natural language processing (NLP) algorithms based on the input and instructions you provide.

Copy can help you generate ideas , write material, and fine-tune your copy to match your brand and target audience. While it’s important to note that the generated copy may require editing and customization to suit your specific requirements, it can be a valuable resource for copywriters and marketers looking to streamline their content creation process and generate high-quality copy.

Video making with Synthesia
Synthesia is an AI-powered video creation platform that allows you to create and edit videos using advanced technology. It specializes in generating realistic virtual presenters or avatars that can deliver content in different languages and styles.

Prepare a script or the text you want the virtual presenter or Avatar to deliver in the video. Write your content in a clear and concise manner, and the AI technology will generate the video with the chosen avatar delivering the content.

Synthesia also provides basic editing capabilities, allowing you to trim, cut, and rearrange the video clips. You can add visual elements, captions, and background music to further enhance your video’s impact. Open / Comment

2023-05-24 19:01:15 BTC traders, read this before you lose confidence!

Bitcoin’s [BTC] stagnating performance combined with the previous failed attempts to push beyond the $30,000 level. This performance has led to a drop in confidence but investors should consider one key factor that may favor the bulls in the long term.

A recent CryptoQuant analysis suggested that Bitcoin might be in the early stages of the next bull market. This was largely based on active addresses on a 30-day moving average. It took into account scenarios where the number of active addresses witnessed significant growth after a consolidation phase.

Bitcoin recently enjoyed a significant surge in active addresses as was previously the case in 2019. If the same trend ensues, then it means BTC has already commenced the next bullish phase.

Assessing Bitcoin’s long-term flows and profit taking
There were other observations in Bitcoin metrics that affirmed the long-term bullish expectations. For instance, Bitcoin’s exchange reserves have been on the decline and stood at their lowest historic levels. This reflected the demand that prevailed in the last few months.

Bitcoin has saw a resurgence in open interest in the last five months. This resurgence reflected the steady growth in the number of addresses holding between which currently stood at $1.13 billion. Another key metric to consider was realized profit which revealed the level of selling that takes place at any given point.

Bitcoin’s realized profit registered its latest large spike on May but since then cooled down a bit. An aggregate look over the last five months confirmed activity which reflected the selling pressure associated with short-term profit-taking.

Although the above analysis stood in favor of a strong bullish recovery, it didn’t necessarily mean that BTC was safe from short-term downside. The latter has been the case recently as the market cools down following its failure to sustain demand above $30,000. Open / Comment

2023-05-24 00:00:46 Mine Bitcoin with your phone!

You think it's impossible?

Mine bitcoin with your phone, on your way to work or even from the comfort of your own home.

Liquid is the world's first cloud mining app available on AppStore and GooglePlay.

Now you don't have to take out a loan to buy the equipment, stay up 24/7 while setting it up, and dread opening your electric bill.
These guys take care of all those issues. All you have to do is look at the X's in your wallet.

Stop by and start mining without any headaches!

Channel | IOS app | Android app | Website Open / Comment

2023-05-21 22:40:02 I probed ChatGPT to know Ethereum Classic’s future price trajectory

If you are considering adding proof of work cryptos in your portfolio, chances are you have shortlisted Ethereum Classic (ETC). It is one of the few remaining options in the PoW category, but you may have also noticed that it has been overshadowed, particularly by its counterpart – Ethereum (ETH).

Ethereum Classic’s performance so far this year confirms that it can still attract investor attention. However, the network has been losing popularity from a long-term perspective. Speaking of popularity, artificial intelligence has really taken off this year, with ChatGPT leading this charge.

Assessing fundamental data using the ChatGPT
Perhaps we can leverage the power of AI to find out what the future has planned for ETC. I asked ChatGPT about Ethereum Classic and the interaction was rather interesting. The initial plan was to establish the depth of the AI before going deeper into the type of information that I wanted to pursue.

The AI seemed to have a good handle on things based on the information it provided. However, there have been incidents where it generated inaccurate information, hence the need to verify the information. Now that we had a good base, it was time to up the ante a bit. But first, those keeping a close eye on ETC may have noticed that its community has not been very active. Its development has also lagged behind that of Ethereum and other networks. Open / Comment

2023-05-19 18:01:00 GET A 10 USDT BONUS!

MyBro enables trading with leverage which increases your trading powers:

Your $10 + MyBro = $1000

Also:
• 100% official company
• 0% fees
• crypto, stocks, forex & metals

SIGN UP IN 1 MINUTE & GET YOUR 10 USDT Open / Comment