This coin could follow in Dogecoin’s footsteps

SafeMoon: This coin could follow in Dogecoin’s footsteps

SafeMoon has gained a lot of ground in the last 24 hours. The coin is very popular on Reddit and some are already wondering if SafeMoon is the new Dogecoin – but what exactly is behind the project?

SafeMoon is a community project that was recently launched on the Binance Smart Chain (BSC). On 2 March, it was possible to purchase the SafeMoon token via DxSale.Network. Since then, the token has been Profit Secret tradable on various exchanges, with the decentralised exchange (DEX) PancakeSwap being the exchange with the highest liquidity.

In total, the cryptocurrency has 1,000,000,000,000 tokens (one quadrillion), which is an extremely high token supply. However, in order to strengthen the trust of the users, the developers already destroyed 223 billion tokens.

In addition, the number of tokens is regularly reduced automatically by a built-in smart contract mechanism. For every transaction a user carries out with SafeMoon, a share of 11 per cent is burned. This means that these tokens disappear permanently, which leads to a steady reduction of the SafeMoon token supply.

There are also penalties for token holders who sell their SafeMoon

This penalty consists of a 10 percent fee that traders have to pay for the sale of SAFEMOON tokens. What is special about this is that this fee goes back to the SafeMoon token holders and the SafeMoon/BNB liquidity pool on PancakeSwap. Through all these integrated features, the SafeMoon development team aims to support the token’s course and generate sustainable growth for the project.

According to bscscan.com, the project had just 1,000 token holders as of 8 March. At the time of going to press, this number has grown to over 43,099 hodlers. In the same period, the cryptocurrency’s price has risen by over 800 per cent. Due to these developments, the BSC token has experienced enormous hype in recent days and a large community has formed on Reddit that actively promotes the coin in several groups – some are even already comparing the coin to Dogecoin (DOGE) on Reddit. Even though the hype around SafeMoon might just be starting, there are definitely big risks.
SafeMoon the new Dogecoin or scam?

SafeMoon has an extremely interesting token model overall, but it is primarily aimed at generating hype – hodlers are rewarded and sellers are punished. The project does not yet deliver any real economic added value. Therefore, the price is currently driven primarily by the community and the attention the project receives in the crypto space.

In addition, the development team behind SafeMoon is anonymous and only legitimises itself through its rules laid down in the smart contract. But no external party has yet checked and verified the code of the SafeMoon protocol. For this reason, one should be extremely cautious about SafeMoon. On the BSC, there have already been multi-million scams by anonymous development teams in the past.

Per se, however, it cannot be said that an anonymous team is a bad sign for a crypto project. Well-known DeFi projects, such as SushiSwap, often have this as well. In general, one can see that anonymous teams are increasingly developing projects from the decentralised financial sector (DeFi) – presumably also due to regulatory concerns. Nevertheless, in such projects that are considered „legitimate“, the code is always checked by various external teams that enjoy a good reputation in the crypto space. This is to prevent fraud and improve the general reputation of a project within the community. If SafeMoon wants to spark a similar hype as its role model Dogecoin, the project should think about such trust-building measures as soon as possible.

Chainlink (LINK): price history following the new record high

Chainlink (LINK) hit a new all-time price of $ 27.02.

The LINK has experienced a daily rate of rise of around 1% throughout its market cycles.

Its current cycle has the highest rate of increase

On February 5, 2021, Chainlink’s (LINK) price hit an all-time high of $ 27.02, before declining slightly.

So far, Chainlink has gone through four major market cycles. Unlike the majority of other altcoins, the LINK has mostly moved bullish.

In this article, Bitcoin Revolution will take a look at these previous cycles and compare their development to that of the current market.

Chainlink’s first market cycle

The first market cycle for the LINK took place between September 2017 and June 2018.

The cycle started with a low of $ 0.12 on September 28, 2017. A rise of 1237% in 103 days followed this low, creating the first record price of $ 1.51. The latter was maintained until June 2019.

After hitting that high, the LINK corrected over the next 171 days. It finally stabilized at a low of $ 0.159 on June 28, 2018.

After that, the LINK price entered its second market cycle. It has not since returned to its low of $ 0.159.

The second market cycle took place between June 2018 and March 2020. This cycle experienced a significantly higher growth rate than the first.

In 372 days, the LINK rose 2,786% to a high of $ 4.80 on June 29, 2019. After breaking the initial all-time high of $ 1.51, the LINK continued to rise at an accelerated pace until ‚to reach $ 4.80.

The price then corrected for the next 258 days, decreasing by 72%.

Although the LINK technically hit a slightly higher high in March, due to the latter being part of a flat correction, we see it as part of the correction structure.

The third market cycle began on March 13, 2020 with a low of $ 1.34. It continued until reaching a high of $ 20.71 on August 17, 2020. The growth rate of around 1% per day was in line with that of the previous two market cycles.

After peaking in August, the LINK corrected 61% over the next 128 days. Similar to the second cycle, the LINK actually hit a slightly lower low a little earlier, but the final low of $ 8.03 is still part of the correction.

Since then, the LINK has been on the upswing. A new all-time high of $ 27.02 was hit on February 5, 2021.

Chainlink’s current market cycle has seen the highest growth rate to date. The LINK increased 198% in just 41 days, with a daily rate of increase of 5%.

If the LINK continues with the same growth rate, the current cycle will be the fastest yet, which will likely cause a parabolic rise.

Elon Musk pregunta sobre la conversión del balance de Tesla a bitcoin

El domingo, Elon Musk preguntó sobre la posibilidad de convertir las „grandes transacciones“ del balance de Tesla en Crypto Engine, según un intercambio en Twitter entre Musk y un conocido defensor de la moneda digital.

Si quiere hacer un favor de 100.000 millones de dólares

Michael Saylor, CEO de MicroStrategy, en un tweet a Musk, sugirió que el multimillonario fundador y jefe de Tesla, hiciera el movimiento.

„Si quiere hacer un favor de 100.000 millones de dólares a sus accionistas, convierta el balance de $TSLA de USD a #BTC“, escribió Saylor en su tweet. „Otras firmas en el S&P 500 seguirían tu ejemplo y con el tiempo crecería hasta convertirse en un favor de 1 billón de dólares“.

„¿Son posibles esas grandes transacciones?“ Musk respondió a Saylor. „Sí. He comprado más de 1.300 millones de dólares en #BTC en los últimos meses y estaría encantado de compartir mi libro de jugadas con ustedes fuera de la red….“, Saylor twiteó.

No se pudo contactar con Tesla y Musk para hacer comentarios.

„Cada CEO se enfrenta al reto de cómo preservar y mejorar el valor para los accionistas ante la expansión monetaria sin precedentes de este año“, dijo Saylor en un mensaje a Reuters. „Bitcoin es la mejor solución al problema de la reserva de valor al que se enfrenta cada individuo, inversor y corporación en la Tierra“.

Récord de alta

Las acciones de Tesla alcanzaron un máximo histórico el viernes en un día frenético de negociación, mientras los inversores se preparaban para la tan esperada entrada del fabricante de coches eléctricos en el índice de referencia S&P 500 el lunes.

Bitcoin alcanzó un máximo de 24.299,75 dólares el domingo, después de pasar el hito de los 20.000 dólares por primera vez la semana pasada, en medio del creciente interés de los grandes inversores.

The price of Bitcoin faces this last resistance zone before reaching $20,000

Bitcoin is approaching its historical peak, but there is still an area of resistance that buyers must overcome.

Bitcoin traders (BTC) are identifying order books from major exchanges that show the USD 19,500 level as a short term resistance level.

Bitcoin Rejects USD 19,500 for Now

On November 25, Bitcoin’s price was rejected at USD 19,500 with relatively large volume on the major spot exchanges. At Binance, for example, the BTC price reached USD 19.484 before seeing a slight decline to less than USD 19.300.

The lower rejection probably occurred because of the piles of sell orders between USD 19,450 and USD 19,550.

A popular trader known as „Byzantine General“ shared the order books of all the major exchanges that showed USD 19,500 as a key area for sellers.

Vijay Boyapati, a Bitcoin researcher, similarly said that the USD 19,500 to USD 19,550 range remains the last wall of sales before a new historical peak.

If Bitcoin does not test the $19,500 range again in the next few hours, this could mean that another drop is likely. Considering that it would be the last resistance to the new historic peak, traders expect some reaction from sellers.

Another small setback would benefit Bitcoin because it would further neutralize the futures funding rate of Wealth Matrix. The BTC futures funding rate has once again risen to 0.07% at Binance Futures and other exchanges.

Given that Bitcoin’s average funding rate is 0.01%, another short-term drop to restore the derivatives market may even strengthen the upward momentum.

Short contracts at levels not seen since April is a relevant variable

However, one variable to consider is that the number of short contracts in the Bitcoin market is at its highest level since April 2020.

In March, the price of Bitcoin fell below USD 3,600. Subsequently, it continued to rise, eventually exceeding USD 19,000. The rally accelerated in April when short contracts reached an annual high.

The probability of a short term bearish contraction increases as the number of short term contracts in the market increases. A small downward contraction occurs when the price of an asset continues to rise despite the presence of significant selling pressure.

This trend causes short sellers to buy their market positions, which drives increased market demand for purchases. An analyst known as „Cactus“ wrote:

„BTC’s short contracts are at the highest point since April 2020…“

If the number of short positions continues to rise, it would also cause a drop in the futures funding rate. In some ways, this could make the rally more sustainable in the medium term.

Research traces fraudulent ads using celebrities and Bitcoin to Moscow

More countries are reportedly involved in a major global Bitcoin advertising fraud.

Investigation tracks fraudulent ads using celebrities and Bitcoin to Moscow

A major Bitcoin (BTC) publicity stunt involving unauthorised images of Australian celebrities apparently promoting fake investment schemes is reportedly coming from Russia, according to a new report.

Bitcoin’s fraudulent advertisements capitalising on Australian celebrities such as Dick Smith and Andrew Forrest are part of an organised global business using at least five Moscow addresses, a Guardian investigation said.

On 13 December, The Guardian published a report providing further details of a major Bitcoin ad scam that has been running on news websites since at least 2018. As reported earlier, the scam involved fake articles using unauthorised images of celebrities to advertise fraudulent investment schemes in cryptomime and steal money. The Guardian itself was a victim of the scam, as the news agency accidentally published some of these fraudulent advertisements.

According to the latest report, The Guardian Australia found five names of people who registered hundreds of fake websites related to the scam, „all with addresses in central Moscow“. The news agency said Google launched an investigation because two of the email addresses were linked to Gmail accounts

The Guardian noted that there is other information suggesting that the fraud scheme may also have links to Ukraine, referring to a March 2020 report from the Organised Crime and Corruption Reporting Project, or OCCRP. The OCCRP investigation found a call centre running similar Bitcoin scams operating in Kiev.

In March 2020, a whistleblower revealed the existence of an encryption scheme operating in Ukraine. The 200-employee fraud scheme targeted mainly investors from Australia, New Zealand and the United Kingdom, promoting false news articles using celebrities such as Gordon Ramsay, Hugh Jackman and Martin Lewis. The scheme would have raised US$70 million in 2019.

BlockFi has announced the new offering that will allow the giant Fidelity to provide loans and use Bitcoin as collateral.

Recall that Fidelity offers its mostly enterprise customers a security, trading and digital asset support service, and is one of the largest financial services providers in the world as it has over $8.7 trillion of its customers‘ money under management.

For its part, BlockFi, on the other hand, founded in 2017, was created to give its customers access to financial products they wouldn’t otherwise have access to. One of the strengths of this company are the interest on the deposits that users have by putting their cryptos in this service, blocking them for a certain period of time, for example blocking 1 BTC for 48 months, the total interest comes to just under 5 thousand dollars.

Returning to the news, Fidelity has relied precisely on BlockFi to provide its customers with this type of loans using crypto, to be precise using Bitcoin, as collateral to receive fiat and spend them as the user sees fit.

This service has been requested by many since it is already available in decentralized finance (DeFi) thanks to various protocols and on different blockchains. In fact, the macro category in which this type of tool falls is called lending and borrowing, in which we find on the one hand those who lend their crypto in exchange for interest, and on the other those who borrow crypto by paying an interest (sector explained in detail in the book Mastering DeFi).

Fidelity and BlockFi together for loans in Bitcoin

So this collaboration sees two major players, who among other things boast high security on the custody of users‘ funds, as BlockFi CEO Zac Prince mentioned:

„We are excited to partner with Fidelity Digital Assets to help facilitate capital efficiency within their trusted digital asset management platform. Having the ability to fund positions is a critical component of the financial services infrastructure and this collaboration reflects an exciting development for the digital asset ecosystem.“

But this is just the natural evolution of a service that Fidelity provides to its users, recalling that as early as last year Fidelity had partnered with BlockFi regarding interest-based accounts.

Fidelity’s head of sales and marketing for digital assets, Christine Sandler, commented:

„We continue to see demand for greater capital efficiency from institutions with long positions in bitcoin, and with this collateral brokerage capability, our clients seeking that efficiency can access greater opportunities with the capital they entrust to us to keep it safe. For Fidelity Digital Assets, this is an exciting first step in supporting the burgeoning digital asset lending market and deepening our relationships within the digital asset ecosystem with leading firms like BlockFi, allowing us to provide even higher level institutional solutions to investors in this space.“

Finally, remember that Fidelity itself has always defended Bitcoin from criticism and will soon be ready to offer another major asset such as Ethereum (ETH), demonstrating an openness to other assets as well.

As for BlockFi, instead, we know that Morgan Creek has invested as much as $50 million on this platform.

Ethereum Becomes One of Largest Proof of Stake Chains Even Before Launch

Staked Ethereum now totals over 700K ETH.

Beacon Chain becomes the sixth largest PoS chain even before its launch.

ETH prices fell below $ 600

With the staking threshold now reached, Ethereum 2.0 can officially launch as planned on December 1. This step propelled the blockchain to position itself as one of the largest proof of stake networks in the world, even before it went online.

The bet on the Bitcoin Cycle deposit contract has jumped over 700,000 ETH, meaning the 524,000 threshold has been crossed and the countdown to the beacon chain genesis has now started. With over 22,000 validators, the launch date of December 1 has been set and time is running out .

As BeInCrypto reports, several large companies and organizations have already committed to supporting the next iteration of the world’s largest smart contract network. More than 2,000 unique Ethereum addresses have made deposits into the contract according to Dune Analytics.

Sixth largest PoS blockchain

Even before being put on the mainnet, Beacon Chain is one of the largest proof-of-stake blockchains in the world. Contributing to Defiant’s latest newsletter , industry insider Cooper Turley said;

„As a perspective, the number of Eth2 depositors and validators is already higher than the number of validators on some of the major proof-of-stake chains, including Tezos, Cosmos and Polkadot.“

In the case of rival platform Polkadot, there are over 7,000 nominators delegating their tokens to validators, but ETH 2.0 is unlikely to take long to catch up. Turley added that the number will change when launching next week, as 900 validators per day can be added after genesis.

Ethereum ETH

A total of 688,000 ETH (roughly $ 412 million) deposited in the ETH 2.0 contract would make Ethereum the sixth-largest chain of outlets in terms of staked assets according to Staking Rewards.

Turley added that the rapid filing of nearly half of the staking requirements over the past two days sends a strong signal;

„With over 50% of the staked balance deposited in the last 48 hours, this milestone marks a major vote of confidence in Ethereum’s most grueling upgrade to date taking place over at least four phases in which should last at least. two years,“

ETH price outlook

At the time of going to press, Ethereum prices were retreating from a high of $ 620 where there was long term resistance from the 2018 cycle . Prices had fallen below the 50-hour moving average at $ 590 as the correction appears to be gaining momentum.

It’s only natural for markets to cool down from such intense price action, however, Ethereum’s long-term outlook has just improved with a silver lining for holders who endured its two-year bear market. .

Bitcoin SV rompe il movimento del range-bound, manca di acquirenti al rialzo

Coin IdolGli acquirenti hanno fatto diversi tentativi prima di rompere la resistenza di $ 180
Ieri, gli acquirenti hanno compiuto sforzi concertati per rompere la tendenza laterale della moneta vecchia di tre mesi. BSV non è stata in grado di scambiare al di sopra della resistenza generale di $ 180 da settembre.

Gli acquirenti hanno fatto diversi tentativi prima di rompere la resistenza di $ 180.

Il recente rimbalzo ha raggiunto un massimo di $ 193 ma sta affrontando resistenza

La presenza di venditori nella zona di resistenza di $ 200 sta influenzando il movimento al rialzo della moneta. Bitcoin Future continuerà con lo slancio rialzista se i rialzisti manterranno lo slancio rialzista sopra il supporto di $ 180. Tuttavia, se i venditori spingono il prezzo al di sotto del supporto di $ 180, la crittografia riprenderà il suo movimento laterale al di sotto della resistenza generale.

Lettura dell’indicatore Bitcoin SV

Il prezzo ha superato gli SMA, il che suggerisce che la moneta potrebbe aumentare. In secondo luogo, il recente rimbalzo ha rotto la linea di resistenza del canale orizzontale. Quando il prezzo rompe e chiude sopra la linea di resistenza, significa che il trend è cambiato. Attualmente, il prezzo sta testando nuovamente la linea di resistenza per rompere al di sotto di essa. La crittografia è al di sopra dell’intervallo del 75% dello stocastico giornaliero. Indica che la moneta è in un momento rialzista.

Qual è la prossima direzione per BSV / USD?

Bitcoin SV ha infranto la resistenza overhead di $ 180; c’è una probabilità di un ulteriore movimento verso l’alto della moneta. Il 17 novembre trend rialzista; il corpo di una candela ritracciata ha testato il livello di ritracciamento di Fibonacci del 50%. Questo ritracciamento indica che la moneta aumenterà e raggiungerà il livello di estensione di Fibonacci 2.0 o il massimo di $ 189,29.

Qui pilotait vraiment le récent rallye de Bitcoin?

Le rallye Bitcoin le plus récent était bon, même si nous n’avons pas atteint 16000 $ ou ne l’avons pas dépassé. C’était une pompe indispensable après la réduction de moitié très attendue du Bitcoin et le crash du jeudi noir en mars. Cependant, une chose intéressante à retenir du rallye, si l’on regarde de plus près, était l’identité de qui a aidé à ledit rallye.

Plus important encore, qui a conduit le récent rallye?

Était-ce la vente au détail? Individus à valeur nette élevée? Institutions?

Une chose qui doit être comprise ici est que Bitcoin Billionaire est en grande partie un marché de détail et, par conséquent, le commerce de détail sera toujours une force qui doit être prise en compte. Cependant, alors que le commerce de détail a joué son rôle, ce rallye semble avoir été alimenté par des les particuliers fortunés, avec la même confirmation en utilisant des données en chaîne.

Volume de transfert moyen Bitcoin

Le volume moyen de transfert de Bitcoin mesure exactement ce qu’il dit, la valeur moyenne transférée en chaîne.

Dernièrement, cela a connu une forte augmentation, indiquant l’arrivée de plus en plus de participants. Comme il ne s’agit pas seulement de la valeur totale transférée sur la chaîne, cette mesure donne une idée du type d’investisseurs – individus à haut réseau.

Le graphique montre que l’activité de ces utilisateurs a augmenté rapidement lors de la récente poussée du marché.

Taux d’investisseurs

Le graphique ci-joint met en évidence les nouveaux investisseurs qui arrivent sur le marché. L’ajout de ces informations à ce qui précède montre que ces investisseurs sont nouveaux, ce qui signifie que de l’argent neuf entre sur le marché.

Ces deux mesures expliquent comment le récent rallye n’était pas un hasard car il était soutenu par le volume et soutenu par de vraies données en chaîne.

Si l’on considère également la diminution des actions Gold ETF et l’augmentation des actions Grayscale ETF, tout revient, un cercle complet en soi.

BlockFi erwirbt einen Anteil von 5% am Grayscale Bitcoin Trust (GBTC) und wird ein Top-Aktionär

BlockFi, das auf Kryptokredite ausgerichtete Unternehmen, hat in den Grayscale Bitcoin Trust (GBTC) investiert und ist einer der größten Anteilseigner geworden. Laut einer Einreichung bei der US Securities Exchange Commission (SEC) hat das Unternehmen 5,07% des GBTC Trust gekauft.

Insbesondere müssen Unternehmen in den USA über das Formular 13G Bericht erstatten, wenn sie mehr als 5% an einem anderen Unternehmen besitzen

Aus der Einreichung geht ferner hervor, dass die von BlockFi erworbenen Aktien 24.235.578 des GBTC Trust entsprechen. Nach den neuesten jährlichen Grayscale-Einreichungen beträgt dieser Wert ungefähr 24.235.578 Bitcoins, da jede Aktie einen Preis von 0,0001 BTC hat. Gemäß den geltenden Krypto-Marktpreisen beläuft sich die BlockFi-Investition in GBTC auf rund 328 Millionen US-Dollar.

GBTC ist seit 2013 in Betrieb und wurde als Bitcoin-Kaufstraße genutzt, ohne die zugrunde liegende Krypto selbst zu besitzen. Derzeit verwaltet das Unternehmen einen AUM von über 6 Milliarden US-Dollar und erwirbt Anfang des Jahres eine SEC-Lizenz . In den letzten Monaten ist sein Wert exponentiell gestiegen, wobei die Zuflüsse im dritten Quartal Rekordhöhen erreichten und die Marke von 1 Milliarde US-Dollar erreichten .

Der CEO von BlockFi, Zac Price, sagte, dass der Schritt, in GBTC zu investieren, Teil der Bemühungen ist, ihre Kunden besser zu bedienen

„Neben den mit dem Produkt verbundenen Investitionsmöglichkeiten gibt es Kreditmärkte, und unsere bedeutende Beteiligung ermöglicht es uns, einen Mehrwert für unsere Kunden und den Markt für liquide und illiquide GBTC-Aktien zu schaffen.“

BlockFi ist nicht das einzige kryptofokussierte Unternehmen, das einen bedeutenden Anteil am GBTC Trust erworben hat. Bereits im Juni kaufte Three Arrows Capital 21.057.237 Aktien, was ungefähr 6,26% des damaligen Gesamtvertrauens entspricht.