Connect with us

Blockchain

Crypto Investors are Not Profiting

On-chain data shows that crypto investors are not taking profit, however, they are still holding on even in the face of economic uncertainty and the strong performance of bitcoin. It may come quite shocking but by the data on the 15th of June, 60.63% of all of the bitcoin has not moved an inch for … Continue reading Crypto Investors are Not Profiting

The post Crypto Investors are Not Profiting appeared first on CoinSpectator Blog.

Published

on

On-chain data shows that crypto investors are not taking profit, however, they are still holding on even in the face of economic uncertainty and the strong performance of bitcoin.

It may come quite shocking but by the data on the 15th of June, 60.63% of all of the bitcoin has not moved an inch for over a year even though it peaked a couple of months ago and reached its highest in the last 2 years. This information comes from Glassnode, which is a blockchain data and intelligence provider which develops applications that provide new ways to gain insight into blockchains and cryptocurrencies. The data suggests that the bitcoin (BT) owners are consolidating and investors who have acquired the crypto in 2018 are not willing to sell their investments. This is the largest supply sitting inactive for almost 4 years now.

Lots of cryptocurrencies and bitcoin, in particular, are affected by loads of different aspects. For instance, the socio-economic problems in the United States of America have shifted the pricing for the bitcoin a couple of times during the last months. The protests caused by the death of George Floyd fueled the long-brewing emotional response from the people and black minorities in particular to systemic racism. With the President of the United States, Donald Trump, being actively involved in the dissolution of the situation as he commanded the national guard to move in and assist the police with some of the more aggressive parts of the protests have shifted the price of bitcoin to $10,500, which is the peak price since its last jump couple of years back.

The way active bitcoin traders have been dealing with trading bitcoin has been the use of stop loss and take profit orders, which gives them the ability to close the trade as soon as the price hits bare minimum for them to make a profit. This means that the traders are staying on the safer side while still maintaining their financial stability and avoiding big losses. The matter of fact is that the market may start shifting at any time. This may happen when the trader is sleeping or out on their business. One cannot sit next to the computer 24 hours 7 days a week watching the charts. Thus the tools at hand have come in extremely handy.

The ongoing issues with the novel coronavirus pandemic, which rocked the world and resulted in the massive lockdown of borders unseen before have also disrupted all of the markets making trading that much more dangerous. However, for a vigilant trader, it still leaves the opportunity to make huge gains. This is exactly what has caused the shocking bearish tendencies on the market with bitcoin that Glassnode has uncovered.

One of the methods used to analyze inactive bitcoins is to group them using the length of time they’ve been inactive. This method was pioneered by the Austin, Texas-based Unchained Capital. The method has been named “HODL Waves.” It is a visualization that shows the cross-section of the wallets where bitcoins are held and groups them by the amount of time since they have been moved.

The term “HODL” stands for “Hodled” and represents the behavior of people who are just sitting on bitcoin with no intention of using them. The co-founder and the CSO of the Unchained Capital, Dhruv Bansal, has stated that the HODL wave represents the people “who bought bitcoin on the way down from $6,000 to $3,000 in 2018 are still holding it despite the tremendous gains since then and the recent economic turbulence.”

The two segments that have grown during the last couple of years are the bitcoins held for more than 10 and the ones that have been locked up for 2-3 years. The increase has happened by 31% and 26% respectively. The 2-3 year one represents the coins held from the 2017 market all-time high to present.

There are numerous reasons why the “hodling” can happen though. It may not even be due to the fact that someone just wants to sit on a bitcoin but rather maybe they have bought it up way back in the day and have forgotten all about it, or maybe they cannot log back into their Coinbase or have lost Trezor (wallet). It is also, sadly, true that some of these people may just be deceased without their family or friends ever knowing about them owning the bitcoins in the first place. Back in 2010, no one knew bitcoin would be hitting such highs. There was even a time when Laszlo Hanyecz bought 2 pizzas with 10,000 bitcoins back in May, 2010. The media was all lit up with the first official sale made with cryptocurrencies. This was the time when bitcoin was a little over 1 year old. Most of the people back in the day just bought it for the laughs. Some have kept on them and accumulated immense amounts of riches, while others, unfortunately, have lost their lifetime opportunity to strike the jackpot. However, when it comes to Laszlo, he states that there are no regrets from his side.

The first quarter of 2020 has been extremely volatile. Ongoing macroeconomic uncertainty and the increase in the amount of bitcoin just being stashed away in traders’ wallets just gives the incentive that a lot of people still believe in their purchase. One thing is for certain though, the bullish pattern is quite apparent in traders all over the world right now. And as Bansal has also stated: “If you believe bitcoin’s price history repeats or at least rhymes, then this may be a bullish sign, the market consolidating into strong hands as macro trends highlight bitcoin’s value proposition.”

Please follow and like us:

Related posts:

Source: https://blog.coinspectator.com/2020/06/25/crypto-investors-are-not-profiting/

Blockchain

Axie Infinity Records Holders ATH: 420% Year to Date Growth

Published

on

Popular non-fungible token (NFT) gaming platform Axie Infinity continues to see increased adoption from users, following exponential growth in the number of wallet addresses.

Axie Sees Surge in Address Holders

According to data provided by IntoTheBlock on Tuesday (September 28, 2021), Axie Infinity Shards (AXS) ownership is on the rise, with 17,480 address holders. This figure represents a new all-time high (ATH) and a 420% increase year-to-date (YTD). Meanwhile, this growth is indicative of the rising popularity of Axie Infinity and play-to-earn non-fungible token (NFT) gaming.

Back in July, CryptoPotato reported that the value of the AXS token skyrocketed nearly 400% within one month, leading to a market capitalization of over the $1 billion mark. Later in August, AXS was among the assets listed on the major cryptocurrency exchange Coinbase Pro, which also gave it an immediate boost.

Axis Infinity, developed by Sky Mavis and released in 2018, arguably popularised the play-to-earn trend and has recorded a number of impressive milestones in recent times. Data from DappRadar revealed that the project recorded over $2 billion in NFT sales volume, solidifying Axie’s place as the most valuable NFT collection, thereby surpassing major names such as CryptoPunks, Art Blocks, and NBA Top Shot.

The data also showed that more than 600,000 users traded Axis Infinity NFTs, resulting in 4,887,645 transactions. The project currently boasts over 1.5 million daily active users.


ADVERTISEMENT

According to Jeff Zirlin, co-founder of Axie Infinity, half of the platform’s users got to interact with cryptocurrency and blockchain for the first time through Axie, while 25% of them did not own a bank account.

The Growth of NFT Gaming

The NFT industry is becoming popular with celebrities, major sports leagues, and companies buying digital art in whatever form, or selling them. However, blockchain-based games are seeing a special kind of attention.

A report by DeFiPrime stated that the NFT Gaming market has a total market valuation of nearly $180 billion as of August 2021, with the value estimated to rise to $196 billion. An excerpt from the report reads:

“NFT games may have the potential to become the standard for the gaming market if it sees enough attention and popularity. Already they have made major changes to games and made it much more fun for players. From there, it could be a very major change to the way people play games and could be as major as Doom was to the market or 3D was for environments.”

SPECIAL OFFER (Sponsored)

Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 50% free bonus on any deposit up to 1 BTC.

You Might Also Like:


PlatoAi. Web3 Reimagined. Data Intelligence Amplified.

Click here to access.

Source: https://cryptopotato.com/axie-infinity-records-holders-ath-420-year-to-date-growth/

Continue Reading

Blockchain

Bitcoin, Ethereum will draw their market strength from this key aspect

Published

on

Bitcoin and Ethereum are currently surviving a bearish scare, with both assets just about holding a position above their immediate supports. For Bitcoin, the $41,000-level is establishing a strong bounceback range while Ethereum has managed to remain above $3000.

On the contrary, some altcoins have recorded strong recoveries, with Solana, Bitcoin Cash, and Uniswap hiking by more than 10% in one 24-hour window.

Now, these altcoins seemed to have the relative edge at press time. However, there are a couple of key metrics which may allow us to evaluate the actual strength of Bitcoin, Ethereum as the market goes forward.

How much importance should be given to utility?

Source: Sanbase

Over the past few years, market stability has been dependent on different aspects. During the bullish rally of 2017, investor sentiment was key and when major traders started to become bearish, the digital assets collapsed.

Then, it was constructive institutional inflows at the beginning of 2019. At the time, it was suggested that institutions can allow tokens such as BTC, ETH to hold higher price positions. The price fell in 2020, irrespective of rising interest.

However, one key idea missed by most speculators might be the utility side of things, which is presently one of the most important functionality. Gone are the days when astute marketing allowed assets such as TRON to climb into the top-10.

Now, according to Santiment, Bitcoin has hit a two-month high in terms of circulation. What’s more, if the chart is closely observed, the average BTC transferred has risen consistently over the month of September.

Source: Sanbase

Similarly, Ethereum hit a similar feat but its 1-day circulation index was at a 3-month high, indicative of high token utility and movement.

Ethereum’s price has dropped sharply over the course of the past few weeks, but circulation has remained high.

Bitcoin, Ethereum spaces have evolved

Now, to be fair, it is important to account for volatility and the fact the circulation isn’t as high as it was during May 2021. However, maintaining a development and transaction-intensive ecosystem, one which allows the price to be built on strong foundations, is eventually advantageous.

Now, with respect to the assets that have grown over the past few days, besides BCH, both Solana and Uniswap are extremely utilized tokens. While one is the native token of a major DEX, another asset is currently responsible for bringing better L2 solutions.

Likewise, for Bitcoin and Ethereum, higher utility and circulation should keep the asset relevant, and progressively exhibit significant recoveries over Q4 of 2021.

Where to Invest?

Subscribe to our newsletter

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.

Click here to access.

Source: https://ambcrypto.com/bitcoin-ethereum-will-draw-their-market-strength-from-this-key-aspect

Continue Reading

Blockchain

Swaps.app Offering Seamless Crypto Swaps With No KYC Process

Published

on

Swaps.app Offering Seamless Crypto Swaps With No KYC Process

Advertisement &  & 

Swaps.app is simplifying how users are converting Bitcoin and other cryptocurrencies by eliminating the current barriers available in the market.

The EU-regulated company is changing how people swap cryptocurrencies for money with its “swap’n’Go” approach. The platform is a user-friendly space that allows anyone around the globe to effort conduct various trading activities.  

Swaps.app has various unique features. The platform notably offers low commissions and a faster transaction experience to its users compared to many other venues in the market.

Swaps.app offers the lowest fees in the industry while at the same time offering the best buying rates. Transactions performed on the Swaps.app employ price execution from top liquidity providers. In turn, this assures that Swaps.app customers get the best price possible for their purchase.

In addition, transactions on the platform take about 3 minutes. This is because there is no Know-Your-Customer (KYC) process and allows transactions to take three minutes to complete. This is a breath of fresh hair since the registration process associated with cryptocurrency exchanges is usually lengthy and cumbersome compared to most. The process has notably caused many people not to engage in cryptocurrency trade. 

Advertisement &  & 

Another notable feature is that coins get to users’ digital wallets within 15 minutes of payment approval. Swaps.app has two currencies available for purchase, including Tether (USDT) and Bitcoin (BTC). Currently, the platform is accepting two payment methods, Visa and MasterCard debit and credit cards. Users can purchase varying amounts of cryptocurrencies up to €1,000 per month.

To merchants and developers, Swaps.app provides a convenient order widget that can be integrated into any webpage with just a few clicks.

In addition to being regulated by the authorities, Swaps.app integrates a full 3-DS V2 for safe and secure transactions. Reportedly, card purchases that use PCI DSS Level 1 certification will be authorized by code and verified by Visa or Mastercard ID Check.

Swaps.app is now available to over 160 plus countries and is available 24/7 throughout the year. The platform is owned and operated by Octo Liquidity, based in Tallinn, Estonia.

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.

Click here to access.

Source: https://zycrypto.com/swaps-app-offering-seamless-crypto-swaps-with-no-kyc-process/

Continue Reading
News5 days ago

Axie Infinity: Pagbabago ng SLP at AXS Breeding Requirements

Uncategorized5 days ago

How to identify items in Diablo 2: Resurrected

Blockchain4 days ago

Most expensive NFTs ever sold and the Non-Fungible Token’s expansion of expense.

Blockchain5 days ago

QuadrigaCX Saga to Be Covered By Netflix Documentary

Uncategorized4 days ago

Hashrate beats the S&P 500 or A word on the benefits of hashrate rental.

Uncategorized5 days ago

Why is NFT art valuable? Understand why they are worth millions

Blockchain3 days ago

The Three Kingdoms: Bringing a New Era of Play-to-Earn Games to The Blockchain Industry

Blockchain5 days ago

SEC Chair Gary Gensler Reveals Plans To Clean Up Crypto Space – Stablecoins At Grave Risk?

Uncategorized3 days ago

NBA 2K22 City Spawn Locations: How to Unlock

Blockchain2 days ago

BOOM Esports and NoPing e-sports claim the top spots in BTS Pro Series Season 8 SEA and Americas

Blockchain5 days ago

Cardano Launches dAppStore for Certified DeFi Apps

Blockchain4 days ago

Mars4 NFT Land Tokenomics

Blockchain5 days ago

Netflix Set to Premier Documentary About QuadrigaCX CEO in 2022

Blockchain5 days ago

With DeFi still in focus, Cobo raises $40M in Series B funding

Blockchain4 days ago

With BlockFi, Celsius under the radar now, what next for crypto-regulations

News4 days ago

The World’s Top 10 Companies Could Be Interested in Cryptocurrencies

Blockchain5 days ago

Bitcoin’s LN packs a punch, but is it truly far from having security concerns 

Uncategorized3 days ago

Best Stats for the Barbarian in Diablo II: Resurrected

Uncategorized4 days ago

FTX Relocates From Hong Kong to Bitcoin-Friendly Bahamas

Blockchain4 days ago

Top 10 NFT Sales Of This Week: September 19-25

Trending