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Crypto Ultimatum Review

Crypto Ultimatum is a detailed training system that shows you how to go from no money to making a fortune with Crypto Currencies. The system that was used took $100…

The post Crypto Ultimatum Review appeared first on Cryptocoindude.com.

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Crypto Ultimatum is a detailed training system that shows you how to go from no money to making a fortune with Crypto Currencies. The system that was used took $100 and turned this into $1006. But the system works so well they then took this $1006 and turned it into the huge amount of $257,000 with Bitcoin and Crypto Currencies!

The great thing about the training is you don’t need
technical skills. In fact, you don’t even need a great deal of money and can
start with much less than $100 if you wish.

It reveals all the secret techniques and gives you the
ability to make money when you are a complete novice. It even explains some of
the scams so you can avoid them. It goes into detail about where you go to do
all this trading and how you can make money in a little as 24 hours. You can
develop into someone who buys and sells smaller types of “altcoins” too.

This training will be removed from the internet soon, so you
need to be quick, so you don’t miss out.

Plus…Claim your FREE Bonus if you buy Crypto Ultimatum now!

BONUS: Bit Trading Training Pack… Value $97!

Source: https://cryptocoindude.com/crypto-ultimatum-review/?utm_source=rss&utm_medium=rss&utm_campaign=crypto-ultimatum-review

Blockchain

On-Chain Data Shows Surge In Stablecoins Supply Pouring Into Bitcoin

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On-chain data shows a recent rise in the number of stablecoin addresses sending to exchanges, suggesting an increase in dry powder supply pumping into Bitcoin.

Stablecoins Exchange Inflow Addresses Count Recently Surges

As pointed out by a CryptoQuant post, the number of stablecoin addresses making inflow transactions to exchanges saw a sharp rise yesterday.

Stablecoins are tokens that have their values tied to a fiat currency. Since they are relatively stable (as their name suggests), investors like to use them for temporarily pulling out of volatile markets like Bitcoin.

The “all stablecoins: all exchanges inflow addresses count” is an indicator that shows the total number of these fiat token addresses that are sending their coins to exchange wallets.

A spike in the metric’s value means there is an increase in the supply of stablecoins for transferring to other cryptos. This could suggest investors believe now may be a lucrative entrance into volatile markets, and so they are converting their fiat-tied coins to BTC and other cryptocurrencies. They may also be looking to withdraw the coins into fiat.

Related Reading | Bitcoin Bullish Signal: Whales Are Building Their Positions On Derivatives

Now, here is a chart that shows the trend in the indicator’s value over the last week:

Stablecoins Inflow Addresses Count

The stablecoins inflow addresses count showed a huge spike yesterday | Source: CryptoQuant

As the above graph shows, the indicator showed a very large value yesterday, implying that a lot of investors sent their coins to exchanges at that time.

The reason behind the trend could be the recent correction that Bitcoin suffered after making its new ATH. Investors may be bullish on the future price of the coin and find that this dip is a good buying opportunity.

One that thing should be noted is that not the entire stablecoins supply moving into exchanges will be pouring into Bitcoin. A percentage of them will go into altcoins and another will be withdrawn into fiat or kept on exchanges.

Related Reading | Is China Considering Lifting The Bitcoin Mining Ban? The NDRC Runs Public Survey

Nonetheless, a surge in the total supply is still a good sign for BTC and may help the coin bounce back from the correction. Sustained such inflows can prove to be bullish and take the crypto to higher all-time highs (ATHs).

Bitcoin Price

At the time of writing, BTC’s price floats around $63k, up 4% in the last seven days. Over the past month, the crypto has gained 48% in value.

The below chart shows the trend in the price of the coin over the last five days:

Bitcoin Price Chart

BTC's price observes a correction in the last few days, but now looks to be making a come back | Source: BTCUSD on TradingView
Featured image from Unsplash.com, charts from TradingView.com, CryptoQuant.com

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Source: https://www.newsbtc.com/news/bitcoin/chain-data-stablecoins-supply-bitcoin/

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Blockchain

Data Suggests Latest Bitcoin Correction Was Driven By Short-Term Holders

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On-chain data may suggest short-term Bitcoin holders could be behind the latest correction in the cryptocurrency’s price.

Bitcoin Short-Term Holders Behind The Correction?

As pointed out by a CryptoQuant post, on-chain data may hint that selling from short-term holders might be the drive behind the recent correction.

The relevant indicator here is the Spent Output Profit Ratio (or SOPR in short). This metric shows the total amount of profit or loss that investors are realizing in a given time period.

When the value of this indicator is over one, it means holders are selling their coins at a profit on an average. While values below one would suggest sellers are dumping their Bitcoin at a loss. SOPR values exactly equal to one means the overall market is currently breaking even.

To check whether short-term holders are in the process of profit taking or not, the indicator is modified to take into account the age of the coins.

The short-term supply consists of all the Bitcoin that last moved less than 155 days ago (but more than one hour ago). These coins usually belong to traders who keep intensively shifting their positions with each move in order to maximize their profits.

Related Reading | This Bitcoin Meme Elon Musk Reposted Sold As An NFT For Almost $20k In WETH

The SOPR for investors like these is called the STH-SOPR (STH standing for Short-Term Holder). The below chart shows the trend in the value of this indicator over the last few months.

Bitcoin Short-Term SOPR

BTC's short-term SOPR vs the price trend | Source: CryptoQuant

As the above graph shows, when Bitcoin made its new ATH around $67k, the STH-SOPR’s value also showed a significant spike up.

This implies that these short-term investors took the opportunity of BTC’s big move up to realize some of their profits. And with the timing of the correction following soon after, it’s possible the cause of the dip was this selling by these investors.

Related Reading | Can “Coin Days Destroyed” Indicator Predict Bitcoin Tops?

BTC Price

At the time of writing, Bitcoin’s price floats around $63k, up 1% in the last seven days. Over the last month, the crypto has accumulated 49% in gains.

Here is a chart showing the trend in the value of the coin over the last five days:

Bitcoin Price Chart

BTC's price seems to be going up the path of recovery from the correction | Source: BTCUSD on TradingView

A few days ago, Bitcoin successfully set a new all-time high (ATH) of around $67k, but it didn’t take long until the crypto’s price saw a correction.

It’s possible that this dip was caused by short-term holders, as the previous chart hints. Long-term holders remaining bullish can take BTC to even higher ATHs. And looking at the price chart, it may seem that the recovery has already begun.

Featured image from Unsplash.com, charts from TradingView.com, CryptoQuant.com

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.

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Source: https://bitcoinist.com/data-suggests-latest-bitcoin-correction-was-driven-by-short-term-holders/?utm_source=rss&utm_medium=rss&utm_campaign=data-suggests-latest-bitcoin-correction-was-driven-by-short-term-holders

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NYDIG Unveils First Two US Banks To Offer Bitcoin Services Through Its Partnership With Q2

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NYDIG’s Order Book Likely To Secure $20 Billion In Bitcoin From Institutional Investors This Year

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Two US banks, New York-based Five Star Bank and California-based UNIFY Financial Credit Union have become the first financial institutions to offer bitcoin trading via Q2’s and NYDIG’s bitcoin trading platform.

Austin-based digital banking services provider Q2 Holdings and the New York Digital Investment Group (NYDIG) recently partnered to leverage Q2’s Innovation Studio.

The trading platform will enable customers from both banks to trade or hold BTC on their desktops or mobile banking apps, and also display customers’ crypto balances in fiat.

The trading platform’s interface features multiple tabs with helpful information about Bitcoin and blockchain. Jonathan Price, executive vice president at Q2 said that the company has received very high interest for bitcoin trading from its robust pipeline of customers.

“We have several customers now in our early adopter phase with an additional wave of financial institutions planning to deploy by the end of the year.”

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By early 2022, a minimum of 450 banks and credit unions will have gained access to the Q2 trading platform, according to Price.

Five Star is a self-described $5 billion community bank, with branches in 50 locations while UNIFY is valued at $3 billion with several branches in the US.

Banks Cave In To High Customer Demand for Crypto Assets

Increased interest from customers has given rise to the emerging trend of banks willing to provide the option for their customers to trade, and hold cryptocurrencies. US banks have increasingly been incorporating digital assets offerings since the US Office of the Comptroller of the Currency allowed banks to hold cryptocurrencies in July 2020.

Several of the largest US-based banking institutions such as the Bank of America, Goldman Sachs, JPMorgan, Morgan Stanley, Wells Fargo, and CitiBank have launched different crypto-based initiatives.

Research by NYDIG indicates that over 20% of adults in the US own Bitcoin. Additionally, more than 80% of the bitcoin owners would store their BTC with their banking institutions or credit unions if the option was present.

“With market and consumer trends evolving, an increasing number of consumers are seeking easy, secure access to bitcoin from sources they trust.”

In May, NYDIG said that Bitcoin will soon be coming to hundreds of banks in the US. NYDIG partnered with fintech company Fidelity National Information Services to enable numerous US banks to offer bitcoin as early as 2021.

However, the progress has notably been slow more than a year down the line compared to banks in other jurisdictions. The majority of Bitcoin adopters still rely on apps from the new fintech generation players such as Square, Robinhood, Paypal, and crypto exchanges like Coinbase and Kraken.

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Source: https://zycrypto.com/nydig-unveils-first-two-us-banks-to-offer-bitcoin-services-through-partnership-with-q2/

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