According to cryptocurrency analytics firm Santiment, certain on-chain metrics suggest that blockchain scaling solution Polygon (MATIC) may be on the verge of a price reversal. Santiment noted that MATIC has recently seen a surge in active addresses and increased movement of dormant coins. “Polygon has been one of the many networks that has been declining since the crypto pullback began in March. However, the noticeable spike in on-chain activity could be a sign that a MATIC reversal could be imminent. A spike in active addresses and dormant coins are common signals ahead of this.” MATIC is trading at $0.423 at…
Author: Crypto Flexs
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Bitcoin Bitcoin +0.54% It has not performed as well as U.S. stocks and other macro assets over the past few weeks since the widespread debt cleanup in early August. On Monday, August 4, cryptocurrency markets lost about $367 billion in value in 24 hours. The selloff coincided with a broad-based decline in stocks, one of the worst days for risk assets since the “Black Monday” crash of 1987.According to Friday’s Coinbase weekly report, Bitcoin has underperformed the index since the early August deleverage incident.“On a risk-adjusted basis, the Bitcoin price is currently 0.50 standard deviations below its three-month average, and…
India’s central bank digital currency (CBDC) initiative is attracting attention from global financial institutions. JP Morgan has expressed optimism about the potential impact CBDCs could have on the country’s financial environment. “CBDC is another step forward for Indian payments,” said Naveen Mallela, Global Co-Head of Onyx at JP Morgan. He told local media: August 29, 2024. The initiative, led by the Reserve Bank of India (RBI), is seen as a major step forward in the development of digital payments in the country. RBI Governor Shaktikanta Das has highlighted the importance of a unified CBDC framework to improve global payments efficiency.…
Jack Anderson Aug 31, 2024 03:18 Storacha, in partnership with Filecoin (FIL), revolutionizes decentralized hot storage using Proof of Data Ownership (PDP), ensuring secure and accessible data with the highest levels of availability and durability. As reported by Filecoin, Storacha is revolutionizing decentralized hot storage by integrating with Filecoin (FIL)’s innovative Proof of Data Possession (PDP) technology. The collaboration aims to provide secure and accessible data with high availability and durability.How Storacha and Filecoin are InnovatingStoracha is a critical data onboarder to the Filecoin network, uploading up to 10 terabytes of data every day.…
XLM was trading below the 200 Exponential Moving Average (EMA) on the daily timeframe. XLM price could drop 12% to $0.083 if the daily candle closes below $0.0915. At the time of writing, Stellar (XLM) appeared to be on the verge of breaking out of a double top price action pattern. This is especially important given the current overall bearish sentiment across the cryptocurrency markets, and the top cryptocurrencies have been under significant selling pressure recently. A double top collapse signals a bearish outlook. Based on price action and technical analysis, a double top is a bearish pattern that signals…
Based on key technical setups, Bitcoin (BTC) could break above $87,000 by 2025, but the BTC price is stuck at a key short-term resistance level.Bitcoin Sets Target at $87,000According to popular analyst Titan of Crypto’s August 29 post on X, the power law corridor predicts that Bitcoin will hit $87,000 by early 2025.“Bitcoin $87,000 Blue Line Target. BTC appears to be consolidating and is gearing up to target the Blue Line of the Power Row corridor.”BTC/USD, Power Law Corridor. Source: Titan of CryptoThe power law corridor measures the correlation between Bitcoin’s price and time, a method often used by long-term…
Last year, cryptocurrency criminals shifted from Ponzi schemes to more specific scams like “pig slaughter,” according to a new report from Chainalysis.”There is a macro trend that coincides with the continued shift by fraudsters from sophisticated Ponzi schemes to casting a wider net towards more targeted campaigns. pigsticking or Address addiction, Partially driven by increase Enforcement efforts and stablecoin issuers “We have blacklisted fraudulent addresses,” Chainalysis said in its mid-year update Part 2, released on Friday. The pig slaughter scam gets its name from the way the scammers “fatten” their victims to extract maximum value. This usually involves developing a…
Bitcoin (BTC) has been trading between $55,724 and $73,777 for the past few days, but rather than panic, whales and sharks have taken advantage of the opportunity to accumulate more Bitcoin.“Wallets holding 10-10K BTC over the past month have accumulated a total of over 133.3K coins, while small traders continue to impatiently dump their holdings into their wallets,” market intelligence platform Santiment said in a post on X.Another positive sign for bulls is the continued decline in Bitcoin held on exchanges. According to CryptoQuant data, Bitcoin holdings on exchanges have plummeted by 12.9% since the beginning of the year. This…
Ted Hisokawa August 31, 2024 00:55 NVIDIA’s RAPIDS AI powers predictive maintenance in manufacturing with advanced data analytics, reducing downtime and operating costs. According to the International Society of Automation (ISA), 5% of factory production is lost each year due to downtime. This equates to a global loss of approximately $647 billion for manufacturers across a wide range of industries. According to the NVIDIA Technical Blog, the most important challenge is to minimize downtime, reduce operating costs, and predict maintenance requirements to optimize maintenance schedules. LatentView Analysis A key player in this space, LatentView…
Bitcoin (BTC) has repeatedly failed to close above $62,000 since August 3, and is currently down 11% over the past 30 days. What’s more notable is that the cryptocurrency has decoupled from the S&P 500 index, which is up 1% over the same period and 1% below its all-time high.Bitcoin price in USD (right) vs. S&P 500 futures (left), 12-hours. Source: TradingViewInvestors are betting that riskier markets, including Bitcoin, could see significant gains if the Federal Reserve cuts interest rates, and professional traders are using BTC options to maximize profits while limiting risk.A 0.50% interest rate cut could push riskier…