Crypto News 03/06: Holder increases BTC holdings as market declines with news from Binance, Cardano, Aave, Shiba Inu, LUNA, Metaverse, DeFi
From holders increasing bitcoin holdings to Andre Cronje announcing he is exiting the DeFi sector. Here are some highlights from the crypto market.
IntoTheBlock analysis shows that the amount of BTC accumulated by retailers has peaked as the total number of bitcoins held by addresses holding 0.1 to 1 BTC hit a record high of 780,000.
Along with the rest of the crypto market, Bitcoin plummeted to a low of $38,590 on March 4th.
The on-chain analytics firm is seeing strong growth in February for bitcoin addresses that are small, contain less than 1 BTC, or are worth around $40,000, which could indicate a return to merchant retail in the market.
All-time high – The total balance of addresses at 0.1 to 1 $BTC reached a record of over 780,000 bitcoins.
The group holds between $4,000 and $40,000 worth approximately #Bitcoin was the fastest increase in the last month
— InTheBlock (@intheblock) March 4, 2022
Previously, the number of short-term holders holding Bitcoin for less than 30 days had grown in tandem with the Bitcoin price, with these addresses’ BTC balances also increasing by almost 5%. According to IntoTheblock, this could indicate that retail investors are slowly returning to the market.
According to recent data from IntoTheBlock, the number of daily active users of Bitcoin has also increased, along with the growth in short-term holders. This indicator has touched the 1 million mark in the past few days.
Bitcoin (BTC) hit a low of $38,590 on March 4th and has posted three straight days of declines since March 2nd. Bitcoin started falling from a high of $45,332 on March 2 amid concerns that the Bureau The Federal Reserve could tighten monetary policy amid rapidly rising inflation.
According to analyst Ali Martinez, the recent halving has eliminated excessive leverage in the market: “Binance Futures has 58.65% of all accounts going long Bitcoin, which could mean that the price drop will result in a large number of short- Positions are liquidated. ”
— Ali Martinez (@ali_charts) March 4, 2022
According to Coinglass data, 65,434 traders were affected by the liquidation as the entire market fell as BTC price fell. Over $229 million liquidated in the last 24 hours; Almost $105.84 million of that is tied to bitcoin trading positions.
The Fear and Greed Index has reached 22 out of 100, suggesting that market sentiment is currently in the “extreme fear” zone.
American media tycoon sells his real estate for Bitcoin
It should be Scooter Braun, US media mogul and manager of Justin Bieber, Ariana Grande and Demi Lovato sold His Texas properties are worth $18.5 million in BTC. The deal marks the largest crypto real estate transaction in Texas history.
Similar to other niches, cryptocurrencies have become an important feature in the real estate business. According to a recent Wall Street Journal article, American investor and media owner Scooter Braun is the latest famous person to have sold his assets for digital assets.
Bitcoin activity is increasing
Bitcoin activity surges as SWIFT bans Russian banks
Active supply of BTC, as measured by 24-hour movement, has risen to around 565,000 BTC, analyst The Bull said.
This is the highest level in more than a year. In fact, only 2 events have ever had a higher number of active BTC: Black Thursday in March 2020 and in May 2020.
operation of the bitcoin network | Source: Glassnode
Prominent businessman Changpeng Zhao, CEO and founder of the world’s largest crypto ecosystem Binance (BNB), describes himself as a “crypto seller”.
Zhao took to Twitter to do so explain why he considers himself one of the “cryptocurrency sellers”. He kept emphasizing that he never sold crypto out of pocket.
However, Zhao clarified that he himself does not directly sell crypto. At the same time, Mr. Zhao won many buyers in his own way.
Before that, Changpeng Zhao bought his first bitcoin (BTC) in 2014 at an average price of $600 and claims not to have sold any BTC since then.
The team behind smart contract platform Cardano (ADA) has unveiled a new upgrade to its proprietary crypto wallet.
Follow a new video release from Input Output Hong Kong (IOHK), the Daedalus Wallet is now operated on Cardano Node 133.
In addition, the update will improve the security features of the crypto wallet.
According to the development team, Daedalus 4.9.0 uses the Cardano node 133, which offers significant improvements in synchronization time and reduced memory usage.
Central Bank of Brazil disclosure On March 3, it selected a total of nine projects to advance the development of central bank digital currencies (CBDCs). One of these projects is Aave.
Brazil’s central bank presented the LIFT Challenge with the current topic “Real Digital”.
The main objective of this challenge is to assess the use cases of central bank issued digital currencies as well as their technological feasibility. There are many characteristics that participants need to consider when submitting proposals, including:
- The scalability of the proposed solution is aimed at “national trade applications”.
- Confidentiality of information while still complying with applicable regulations.
- Interactive Ability
News Shiba Inu
Payment service provider BitPay notification Australia’s leading energy company, 1st Energy, now accepts cryptocurrencies, including Shiba Inu, via BitPay.
Besides Shiba Inu, BitPay supports top cryptocurrencies like Bitcoin, Bitcoin Cash, Dogecoin, Ethereum, Litecoin, Wrapped Bitcoin and five USD-pegged stablecoins (BUSD, DAI, GUSD, USDP and USDC).
1st Energy was formed in 2014 and currently serves New South Wales, Victoria and Queensland. 1st Energy is the first Australian energy retailer to accept cryptocurrencies through a partnership with BitPay.
Electricity retail company customers can now pay their electric bills in any cryptocurrency offered to them by BitPay.
Since ATH on Dec 27, LUNA has been in an accumulation trend and penetrated key price points. Altcoins lost more than half of their value in the next 35 days.
LUNA Pricing Chart | Source: TradingView
While holding the 61.8% Fibonacci level, LUNA formed a bullish rally with a huge ROI up to 108.62% that lasted from February 20th to March 2nd at the 20 EMA (red) and 50 EMA (blue). As the price approached the $94 level, the bears entered the market and caused the price to drop sharply. Additionally, LUNA experienced a reversal from this resistance level once.
Currently, as the 20-EMA immediately smashes into the resistance of the support zone, a close below the $83-$84 range will result in the price retesting the 50-EMA. If the bears continue to exercise strength, the market can continue falling towards the 23.6% support.
On the other hand, if the bulls successfully defend the trendline support (white), LUNA will form a hidden bullish divergence with its RSI.
The next real bodies are very important signals to confirm a new downtrend. A drop below the immediate support could see LUNA retest the $80 region before confirming the downtrend.
Veteran crypto investor Jason Choi shared a recap of his recent conversations with over 50 leading products in the metaverse space.
Accordingly posts With his work we can better understand Metaverses, a digital virtual world with some elements owned by users through cryptocurrency or NFT.
All of the startups he named fall into three categories: infrastructure (identity, “metaverse substrate”, hardware base), experience layer (games, social concepts and brands. Commercial) and value creation layer (team, studio, marketplace). .
The typical “Metaverse” essentially looks like an MMORPG with blockchain features. The current state of metaverse adoption, Choi adds, closely resembles the variety of Layer 1 blockchains in 2017.
After the unsuccessful launch of Solidly, a new AMM project on Fantom using a unique ve(3,3) model, it has been reported that famous DeFi developer Andre Cronje has announced that he is leaving the DeFi field.
This information is split by Anton Nell, DeFi “architect” for the Fantom project and one of Andre Cronje’s longtime collaborators.
“Andre Cronje and I have decided to end our involvement with the DeFi/crypto industry. We will end the cooperation with around 25 projects/services on April 3, 2022.”
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