Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.- ZIL’s uptrend momentum weakened.- Open Interest rates and sentiment declined, further reinforcing a possible reversal.Zilliqa’s [ZIL] increasing divergence amongst key technical indicators could impact investors and traders, not counting the 90% gains ZIL posted in its most recent rally.Read Zilliqa’s [ZIL] Price Prediction 2023-24 Increasing RSI divergence on 12-hour timeframe chart – Is a price reversal likely? The formation of an ascending channel pattern captured ZIL’s recent rally.Notably, the uptrend saw a massive boost from rising buying power, as evidenced by the rising volumes (uptick in OBV).However, the surging price action was also marked by a declining Relative Strength Index (RSI), forming a price/RSI divergence.The divergence could suggest a likely reversal, which could target the $0.02504 support level – a 10% plunge.
So far, the 26 and 200-period EMAs (exponential moving averages) have been keeping extended drops in check.But a convincing break above the channel would leverage bulls to reclaim the pre-November level of $0.03345.Such an upswing would invalidate the bias described above.Regardless, such an upswing may be difficult because of the weakening uptrend momentum, as shown by the Average Directional Index (ADX).
The ADX has been making lower highs since mid-January, suggesting the uptrend weakened.Sentiment turned negative as OI declined ZIL has seen an increase in demand since January, as evidenced by a positive Funding Rate in the same period.However, the asset’s weighted sentiment turned negative at press time.Moreover, waning investors’ confidence could undermine ZIL’s uptrend further.
Is your portfolio green? Check the ZIL Profit Calculator In addition, ZIL’s open interest (OI) rate has been declining since January 10, despite the increasing prices.Therefore, more money flowed out of ZIL’s futures market, which undermined a strong uptrend momentum.
Moreover, the increasing price/OI divergence could signal a possible trend change.Therefore, investors and traders should be cautious with their moves, as the press time ZIL market structure could be a potential “bull trap.” – Consensys and a16z are in different positions on UNI’s deployment on BNB.
– BNB could be impacted in the eventuality of deployment by UNI.Voting is still happening to determine the best way to integrate Uniswap v3 into the BNB network.The voting process, however, has been anything but straightforward, with some venture capitalists (VCs) holding differing positions on the deployment.But what effect would this deployment have on the BNB chain and the token should it happen at some point? Read Binance Coin [BNB] Price Prediction 2023-24 Consensys and a16z go head-to-head on deployment On 2 February, 0xPlasma Labs, acting on behalf of the Uniswap Community, presented a governance proposal.
It was to have the most recent Uniswap version deployed on the BNB Chain.
After receiving 20 million yes votes (80.28%) and 4.9 million no votes (19.72%), the request was officially filed.On 8 February, 7.03 million votes were cast in favor of the proposal.ConsenSys, the creator of the popular MetaMask digital wallet, led this.ConsenSys has a stake in the underlying UNI tokens, which are now valued at approximately $47.5 million, and these votes are denominated in UNI.a16z, which reportedly controls 55 million UNI tokens, cast 15 million UNI votes against the proposal.
The deployment’s reliance on the Wormhole bridge was cited as the reason for the rejection, with LayerZero’s viability as an interoperability protocol being advocated.As of this writing, 77.56% of respondents favored the idea, while 22.07% were opposed.
How BNB chain benefits from UNI deployment Uniswap’s goal is to increase protocol volume and traffic by joining various chains.On the other hand, the BNB chain will also benefit from the protocol’s ultimate implementation.The BNB chain’s record transaction volume was over $16,000,000 in November of 2021.However, there has been a dramatic decrease; the most recent count was a little over 3 million as of this writing.The figure may rise after UNI’s rollout.In addition, Total Value Locked (TVL) is another measure of BNB that should improve with the UNI rollout.Its TVL was $5 billion as of this writing, a significant decrease from its peak.UNI has the potential to make significant contributions to BNB due to its status as one of the largest Decentralized Finance protocols.
Daily timeframe BNB Given the current state of the market, Binance’s [BNB] price activity has not been as thrilling as one may have anticipated.It was selling at roughly $319 as of this writing, with a value decline of more than 2% also noted.
However, the Relative Strength Index showed that it was still moving in a bullish direction.The RSI line was visible at 56, with the bullish trend diminishing at this point.Is your portfolio green? Check out the BNB Profit Calculator Being the native coin of the BNB ecosystem, a successful UNI deployment could have a favorable effect on the price movement of BNB.- The latest FATF report underscored the need for more regulation in the financial sector.- Digital transformation may align the crypto market in a favorable way.The 2021-2022 FATF report is finally out, and as per Binance [BNB] CEO CZ, some standards highlighted in it might affect the crypto industry.
However, the expectations were positive, and may even push the market in the right direction.Among the key highlights was the fact that the FATF advocated for the creation of online courses, which would offer education to the masses.#Binance is also pleased to see FATF using the report to shine a light on their developing online courses, used to train people in the fields of virtual assets and VASPs.Education is key (1.).
— CZ 🔶 Binance (@cz_binance) February 8, 2023 How much are 1,10,100 BNBs worth today? But does this mean that Bitcoin [BTC] and altcoins are in the clear? Well, not necessarily.The FATF report highlighted financial crime and money laundering as key areas that needed more attention.
It also advocated for leveraging technology that would allow regulators to combat these challenges more effectively.Blockchain technology is currently among the top technologies that may help overcome this challenge.
However, the focus on money laundering may still highlight some risks.Regulators might see this as an opportunity to launch an offensive against cryptocurrencies.There have been incidents in which cryptocurrencies were viewed as a threat, only for the likes of Bitcoin to turn up as one of the most transparent money systems.FATF puts the regulatory wheel in motion The points in the FATF’s digital transformation agenda suggested that there might be a regulatory framework for virtual assets in 2023.
The report highlighted the need for G20 countries to implement the FATF’s revised standards, which are transparency, beneficial ownership, and virtual currencies.Here’s a look at what the FATF had to say about G20 countries’ thoughts on crypto regulation.“Their statements welcomed FATF’s work to regulate virtual assets and reaffirmed their commitment to implement the FATF Standard to prevent the misuse of crypto for illicit financing.” Is your portfolio green? Check out the Binance Coin Profit Calculator It might be too early to tell what to expect, but the tone suggested that it would probably support the broader crypto market.
This is because the FATF’s tone underscored the need to put in place measures without harming those already in the ecosystem.We also appreciated reading about FATF’s participation at G20 summits, and their emphasis on implementation.Global standards provide clarity and consistency – key factors of effective regulation, but they can only be helpful if implemented across the board.— CZ 🔶 Binance (@cz_binance) February 8, 2023 Past FATF reports may have generated some concern about the state of the market but this new report takes a laid back stance.Nevertheless, this is does not offer much clarity on the type of regulation to expect.Meanwhile, global crypto market cap was up by 0.90% in the last 24 hours at press time, amid the lack of FUD-inducing material in the FATF report.- Tron saw a mixed fortune in Q4 as activities and accounts saw highs and lows.
– TRX has rallied in 2023 thus far.Tron [TRX] has presented itself as a viable alternative to Ethereum’s [ETH] blockchain, as it is speedier and more cost-effective.
On 7 February, Messari released a report that evaluated the state of the blockchain as of the fourth quarter of 2022 (Q4).So how is the Tron blockchain doing, and how have its operations affected TRX? How many are 1,10,100 TRXs worth today? Tron addresses rebound Statistics from Messari showed a tumultuous year for Tron.Beginning in Q3, the number of daily active accounts continued to rise.They maintained their rapid growth through the end of the year, increasing by 17.9% QoQ and 90.7% annually.However, daily activated new accounts were flat, going into Q4.Beginning with the FTX scandal in early November, the trend started moving in the opposite direction.On the following day, December 10, 1.3 million new accounts were activated, more than double the number from the day before, when 637,000 new accounts were authorized.In addition, there was a 20% increase from the previous day, with 5.5 million active accounts as opposed to 4.6 million.
QoQ’s growth of 43.8% can be partially attributed to the increase in new accounts.The year-over-year gain of 34.4% is likely attributed to the surge in new accounts seen in Q4 alone.Additionally, the Tron Scammer active account chart revealed a decline in active accounts at the end of December.The majority of January was spent moving sideways, followed by a sharp decline towards the month’s close.
As of this writing, there were over two million active accounts, with a corresponding increase of 7.37%.TRX sees an uptrend as the market normalizes Tron, in contrast to other cryptocurrencies, rose after the first week of January 2023.On the daily chart, it increased by almost 40% until press time.As of this writing, TRX was trading at about $0.067 and had increased by more than 2%.This brought its gain over the previous 48 hours to about 7%.Realistic or not, here’s TRX market cap in BTC’s terms More TRX is produced on the Tron network as increased transactions are carried out and as additional energy is required to process the transactions.
However, they are burned, which makes them scarce.The research stated that during Q4 2022, more TRX was burned than produced.There is potential for a price increase in TRX when more consumers use the network.However, the extent to which the on-chain actions affect its value remains to be seen.Top posts A16Z22 mins ago Exploring how UNI v3 deployment could impact Binance Coin [BNB] Consensys and a16z are in different positions on UNI’s deployment on BNB.
BNB could be impacted in the eventuality of…
People2 hours ago SEC chair Gensler spins staking rules positively: “Not your keys, not your crypto” SEC chair Gensler spins staking rules positively: “Not your keys, not your crypto” Mike Dalton · 3 mins ago ·…altcoin2 hours ago ZIL uptrend slows – could $0.02 support level turn to resistance Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s…Uncategorized2 hours ago Coinkite Launches ‘Higher-End’ Coldcard Bitcoin Wallet With QR Code Scanner The bitcoin hardware wallet manufacturer Coinkite has announced the launch of a new product, the Coldcard Q1, which features a…Aave community3 hours ago Aave Launches Stablecoin GHO On Ethereum Goerli Testnet With Open Source Codebase And Audits Aave Companies, the firm behind the decentralized finance (defi) project Aave, has announced the launch of a stablecoin called GHO…
DeFi4 hours ago DeFi TVL increased 26.82% in January DeFi TVL increased 26.82% in January Zeynep Geylan · 25 mins ago · 2 min read DappRadar states, “The DeFi…Brian Armstrong4 hours ago Kraken Winds Down Staking Program, Pays $30 Million To Settle Unregistered Offering Of Staking Services Case With SEC Kraken, a U.S.-based cryptocurrency exchange, has agreed to wind down its cryptocurrency staking program as part of an arrangement with…Italy8 hours ago LBank Secures Virtual Asset Provider Registration To Operate In Italy press release PRESS RELEASE.Global crypto exchange LBank has registered as a Virtual Asset Provider with Italian regulator Organismo degli…
ban8 hours ago Coinbase CEO Brian Armstrong Expresses Concern Over Rumors Of SEC Ban On Crypto Staking For Retail Customers Brian Armstrong, CEO of Coinbase, expressed concern about rumors that the U.S.Securities and Exchange Commission (SEC) may eliminate cryptocurrency…Bitcoin9 hours ago Bitfarms pay off $21M debt with one-time cash payment of $7.75M Bitfarms pay off $21M debt with one-time cash payment of $7.75M Oluwapelumi Adejumo · 5 hours ago · 1 min…Analysis9 hours ago Biggest Movers: LINK Moves To 3-Month Peak, As DOGE Drops To 10-Day Low Chainlink rallied to a three-month high during Thursday’s session, despite a red wave sweeping through cryptocurrency markets.Today’s surge came…10 years11 hours ago Localbitcoins, The Pioneer P2P Bitcoin Exchange, Shuts Down After A Decade Of Service Due To Crypto Winter Localbitcoins, the Helsinki, Finland-based bitcoin exchange founded in 2012, is closing operations after over a decade of service.The company’s…adoption12 hours ago MetaMask set to launch Onramp.money integration MetaMask set to launch Onramp.money integration Josh O’Sullivan · 2 hours ago · 1 min read The Onramp.money integration will…
Analysis12 hours ago Bitcoin, Ethereum Technical Analysis: BTC Moves Below $23,000 As Market Volatility Heightens Bitcoin dropped to a two-week low on Feb.9, with prices falling below the $23,000 mark after a brief rally…Cryptocurrency13 hours ago Ten Online And Offline Places To Spend Bitcoin Here are the top ten Online and Offline places to spend Bitcoin, for viable trading.Investors are looking for places…Uncategorized13 hours ago CryptoSlate Daily wMarket Update: Polygon shows strength amid wider market downturn CryptoSlate Daily wMarket Update: Polygon shows strength amid wider market downturn Samuel Wan · 3 seconds ago · 3 min…crypto sanction13 hours ago Russia offers subsidies on crypto mining in Siberia, details inside Russia is now offering tax breaks to those who want to invest in cryptocurrency mining.Since the Ukraine war and…Bankruptcy13 hours ago Celsius creditors, US gov oppose bankrupt’s lender extension request due to high cash burn rate Celsius creditors, US gov oppose bankrupt’s lender extension request due to high cash burn rate Oluwapelumi Adejumo · 15 mins…
Trending – 20224 days ago Meme Coin Economy Swells By $5.8 Billion In Less Than A Month, Suggesting Demand For Meme Tokens Still High – Uncategorized5 days ago Google Backs AI Firm Anthropic With $300 Million, Following Series B Investment From Controversial FTX Co-Founder – BTC prediction5 days ago BTC Institutional Investor Forecast For 2023, Musk Makes McDonald’s Promise Again, Kiyosaki Says ‘We Are In Global Recession’ And More — Week In Review – 3114 days ago NFT Market Remains Resilient With 1.23% Increase In Sales, Ethereum Dominates With 81% Of Total NFT Settlements – Uncategorized6 days ago Ethereum Network’s Rising Gas Fees In 2023: A Balancing Act Of Growth And Cost – bank account6 days ago Experts Predict Future Regulation Of Crypto Exchanges By 2025, With Split Opinion On Similarity To Traditional Finance – Bitcoin7 days ago As Bitcoin Continues Its Upward Trajectory, The Last Ever Code To Get 200% Free Tokens For Big Eyes Coin Will Soon Expire! – brics7 days ago Report: Egyptian Lawmakers Hail Parliament’s Endorsement Of Pact To Join BRICS Bank []https://news.btcminingvolt.io/uncategorized/meme-coin-economy-swells-by-5-8-billion-in-less-than-a-month-suggesting-demand-for-meme-tokens-still-high/ []https://news.btcminingvolt.io/uncategorized/google-backs-ai-firm-anthropic-with-300-million-following-series-b-investment-from-controversial-ftx-co-founder/ []https://news.btcminingvolt.io/uncategorized/btc-institutional-investor-forecast-for-2023-musk-makes-mcdonalds-promise-again-kiyosaki-says-we-are-in-global-recession-and-more-week-in-review/ []https://news.btcminingvolt.io/uncategorized/nft-market-remains-resilient-with-1-23-increase-in-sales-ethereum-dominates-with-81-of-total-nft-settlements/ []https://news.btcminingvolt.io/uncategorized/ethereum-networks-rising-gas-fees-in-2023-a-balancing-act-of-growth-and-cost/ []https://news.btcminingvolt.io/uncategorized/experts-predict-future-regulation-of-crypto-exchanges-by-2025-with-split-opinion-on-similarity-to-traditional-finance/ []https://news.btcminingvolt.io/bitcoin/as-bitcoin-continues-its-upward-trajectory-the-last-ever-code-to-get-200-free-tokens-for-big-eyes-coin-will-soon-expire/ []https://news.btcminingvolt.io/uncategorized/report-egyptian-lawmakers-hail-parliaments-endorsement-of-pact-to-join-brics-bank/.
