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Rutger VanDerTas and Niels Broszat

July 24, 2021

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via Cointelegraph.com News https://ift.tt/3iIu3KZ

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On-Chain Analysis Suggests There Are Few Bitcoin Sellers Preventing a Rally

Bitcoin has seemingly entered no man’s land, with the price ping-ponging between $11,000 and $12,000. A top analyst has corroborated this sentiment, recently noting that neither his bull nor bear case has been confirmed. Chances are that this consolidation will resolve upward, though, according to a new analysis. This analysis suggests that there is little on-chain resistance stopping BTC from rallying to new local highs and beyond. Related Reading: Crypto Tidbits: MicroStrategy’s $250m Bitcoin Purchase, ETH DeFi Boom, BitMEX KYC Bitcoin Could Be Buoyed as Few Sellers Remain According to recent data from WhaleMap shared by a crypto trader, there is little on-chain resistance stopping a Bitcoin rally from current levels. Referencing the chart below, the trader wrote : “To add to this…: This chart shows where bitcoins where accumulated at. What do you see? There are very few bag holders left. Meaning, there is little sell pressure left. The only real sell pressure now is peop...

Max Keiser: Bitcoin’s Rising Hash Rate Shows Confidence in Fiat is “Collapsing”

Bitcoin’s recent mining rewards halving that took place just a couple of months ago went off without a hitch and has had a negligible adverse impact on the dynamics seen amongst the cryptocurrency’s miners. This comes despite what many analysts had previously believed, as some had been calling for an imminent “ hash rate death spiral ” that would be induced by the event. Despite this, BTC’s hash rate was able to surge to a fresh all-time high yesterday and isn’t showing any signs of spiraling lower any time soon. Now, one prominent investor and Bitcoin advocate is noting that he believes hash rate precedes price – with this being a positive sign for BTC’s near-term outlook. He also notes that the growth this metric has seen elucidates a collapse in confidence for fiat currencies. Bitcoin’s Hash Rate Surges to All-Time Highs; Avoids “Death Spiral” The block rewards reduction that took place in May hampered miner’s profitability and led some analysts to suspect that it would cause ...

Infinito To Support EOS dApps

via Crypto Briefing https://ift.tt/2O6wuYd EOS might be the most insular blockchain in the top ten, but a new wallet could add another onramp to the fifth-largest blockchain. Infinito Wallet, a multi-currency wallet protocol, has released a new update that will support EOS dApps in its App Square. According to a press release, the dApps now supported by the Infinito Wallet platform are: DEXEOS : A decentralized cryptocurrency exchange leveraging the EOS token as a base pair. All tokens built on the EOS platform will also be available for instant transfer at competitive rates. KYC steps are not required to begin trading on DEXEOS EOS Account Creator : A new way for users to begin interacting with the EOS interface. In three easy steps; simply launch the app, set an account name to get private keys auto-filled, and use a crypto credit card to pay. PRA Candybox : The most popular EOS token distribution solution, PRA Candybox is a platform providing finan...

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Rutger VanDerTas and Niels Broszat

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