This Blockchain Indicator Might Show Bitcoin Rally Has Legs
Bitcoin’s price has nearly doubled this year, but the rally could have room to run. That’s based on a new report by Coin Metrics, a cryptocurrency data firm, which shows bitcoin (BTC) is not at an extreme relative to the previous market top in 2018.
The MVRV ratio is a measure of bitcoin’s market value relative to its realized value. The gauge represents the difference between the cryptocurrency’s current price and the average price at which bitcoins were acquired. When it reaches an extreme, the thinking goes, traders might be inclined to take profits, creating sell pressure that could push price down.
- The near 20% bitcoin sell-off from an all-time-high around $60,000 last week triggered a decline in the MVRV ratio to 0.88.
- “Historically, the periods that MVRV has dropped below 1.0 have been some of the best times to invest in BTC,” according to Coin Metrics.
- The MVRV indicator reached an extreme around 4 in 2018, and near 6 in 2014, just prior to the start of bear markets.
Lynk’s First NFT Collection ‘Finder’ Sells Out, Unveils Next Sequel Collection ‘Keeper’
Lynk, the SocialFi platform building a decentralised online community to accelerate the development of the Web3 economy, has achieved a resounding success with its latest NFT collection, Finder. The collection, consisting of 200 unique Finder NFTs, was sold out in less than a day, a testament to the dedication and support of Lynk’s growing community of supporters and fans. The Finder NFT collection is a breath of fresh air in the rapidly growing NFT market, offering a unique and engaging narrative for NFT collectors and enthusiasts. The NFTs hail…03/08/2023
WEB3.0 major milestone: ADDAO blockchain advertising technology platform is about to be officially launched!
What is Web 3.0 advertising? In one sentence, compared with the current Web 2.0, Web 3.0 advertising is more user-centric, more efficient, transparent and secure intelligent advertising. As we emerge from the Web 2.0 ecosystem, publishers and advertisers alike are increasingly dissatisfied with this opaque and complex status quo. So regaining transparency and trust across the entire value chain—increasing user engagement and monetizing premium publishers—is the true ad industry value creator. Therefore, the ADDAO blockchain advertising technology platform came into being, and has successfully completed three rounds of IDO. According…02/18/2022
Emperor blue ecological public chain, to create the third world super intelligent city 2.0 pioneer
With the continuous progress of society, the continuous development of science and technology, the continuous improvement of people’s living standards, the continuous diversification of demand, the global intelligent construction is imperative. According to the data, there are thousands of smart cities in the world. The market size is expected to be 700 billion US dollars in 2023. In order to promote the rapid development of intelligent city, the perfect use of block chain technology and unique characteristics, Di Lan chain came into being. DiLan Chain —— Building Distributed Bottom Data…02/19/2021
Camila Russo on Building The Defiant and the Future of DeFi
Talk about good timing: In 2017, Camila Russo was on the prowl for a worthy book project. What would be a good subject? What hasn’t been covered? At the time she was a reporter for Bloomberg. She was astonished to find a juggernaut of a story that was hiding in plain sight: Ethereum. “I was like, ‘I can’t believe that nobody is covering this,’” she says now. There were already crates of books written on Bitcoin, but there were very few, if any, on the world’s second-largest blockchain project. This post…12/24/2020
An extraordinary Valentine’s Day on February 14! The SuperCells Token (SCT) angel whitelist is now open, and there are even more stem cell Standard package lotteries!
According to the SuperCells Foundation’s official news, the SuperCells Foundation has now launched its SCT angel round whitelist campaign on Valentine’s Day, February 14th. Valentine’s Day meets with the SCT angel round whitelist The SuperCells Token (SCT) angel whitelist is available for sale with limited amount! Time: February 14th – February 20th Total amount: 1,000,000 USDT Limit per person: 100 USDT Payment receiving address: 0x5A065c8b6Bf86bef0Dc815046f2D1c1EC490eca4 Rules: After completing the survey: [questionnaire https://forms.gle/iTJ5cACGJ6sC6wBo7], users can get a whitelist quota of 100U per whitelist; one super cell Standard package –…02/15/2023
Goldman Digital Asset Lead Sees Mergers Ahead for Crypto Infrastructure Providers
A Goldman Sachs executive predicts there may be consolidation coming for cryptocurrency infrastructure providers as the market matures. In a recent company podcast, Matt McDermott, global head of digital assets for Goldman Sachs Global Markets Division, hinted that “incumbent banks” – like Goldman – could face pressure to increase their crypto business lines, with one obvious path being mergers and acquisitions. “This is a fast-evolving landscape where the crypto incumbents have certainly made huge progress over the last couple of years,” McDermott said. “There is an expectation from clients now that…03/07/2021
The world’s first decentralized mining power financial service platform DMEX is coming online
We believe in ourselves, therefore we gaze at the stars and shoot for it. The world needs lionhearts like us to innovate and to discover! Compares to traditional mining, cloud computing based mining lowers the barriers to entry for investors. Hence it became one of the most sought-after investments at present. Globally there are over 50 cloud based mining platforms. Together they account for more than 80% of the cloud mining market. Multiple cryptocurrency exchanges, wallets and media communities have entered this market. In the same manner, the sale and transfer of mining power…12/15/2020
GoldenPyrex Ushers in the Next Era in DeFi with a Robust Ecosystem
Bitcoin Press Release: Golden Pyrex (GPYX) announce details of their DeFi platform enabling yield farming, gaming, and NFTs. 17th December, 2020, Nur-Sultan, Kazakhstan – Despite the exponential growth of the DeFi market throughout 2020, the industry is now dealing with a short-term plateau, as the market matures and projects are put to the test. Indeed, innovative use cases like governance, yield farming, and non-fungible tokens (NFTs) will play an essential role in the future’s economy, but not all of them will survive. GoldenPyrex Is Building a Sustainable and Independent Token Ecosystem A key…12/24/2020
TA: Ethereum Turns Vulnerable, Why $600 Could Prevent Fresh Increase
Ethereum faced an increase in selling and it declined sharply to $550 against the US Dollar. ETH price is correcting higher, but upsides are likely to remain capped near $595 and $600. Ethereum declined sharply below the $600, $595 and $580 support levels. The price is now recovering from $550, but it is below the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $592 on the hourly chart of ETH/USD (data feed via Kraken). The pair could resume its decline as long…12/24/2020
The world’s first Exchange, CoinW, implements free transaction cost for BTC transactions, disrupting the industry status.
On July 5, 2022, CoinW, the world’s leading cryptocurrency trading platform, officially announced the implementation of free transaction costs, becoming the world’s first platform to support BTC transactions with zero transaction fee, hence ‘free of charge’. This became a shocking news and In the community, the topic of ” free of charge” was also high and caused heated discussions amongst users. So, what does ” free of charge” really mean? Why has it caused such a big uproar? Advantage 1: Bringing real-money benefits to users. First of all, users can…07/11/2022