Crypto VIP Signal

09 Sep 2024 16:07

According to Glassnode, the Bitcoin hash rate has skyrocketed to an all-time high of 811.52M TH/s. While this isn't necessarily a short-term price indicator, it does show that the Bitcoin network is becoming increasingly secure over time.

Crypto VIP Signal

09 Sep 2024 10:42

The price of TON has rebounded from the support area, which is great news if you bought TON at that level. The price is now increasing, and our long position is currently showing a profit of more than 11% from our entry point. It's a good idea to raise your stop loss to the breakeven point and maintain the trade.

Crypto VIP Signal

08 Sep 2024 20:21

JOE analysis:

Price is currently within the support and resistance area. It's advisable to wait for a test of the support area before entering new trades. This is a no-trade zone.

Support Area: $0.21-$0.25

Resistance Area: $0.425-$0.465

Crypto VIP Signal

08 Sep 2024 13:06

ADA analysis:

The price was rejected from the major resistance area and is now forming a falling wedge pattern on the daily chart. There might be another test of the resistance area, and the falling wedge resistance line is also present. Only consider opening a long position if the price is able to break above this resistance area.

Resistance Area: $0.375-$0.40

Crypto VIP Signal

07 Sep 2024 21:13

THETA is currently testing the support area and holding it well. If you have opened long positions, then increase your stop loss and hold the trade. We may see a bounce from the support area in the coming days. The resistance level remains the same.

Crypto VIP Signal

07 Sep 2024 13:14

ETH analysis:

ETH has dropped to a major support area and gained liquidity from there. Consider purchasing some ETH near the support area as we might see a bounce.

Crypto VIP Signal

06 Sep 2024 20:13

JUP analysis:

JUP is currently testing the major support area, and a bounce is expected from here. Consider accumulating some JUP in the support area. A good rally may occur when the SOL meme season returns.

Support Area: $0.65-$0.71

Resistance Area: $0.89-$0.95

Crypto VIP Signal

06 Sep 2024 13:12

DOGE has broken out of the falling wedge pattern and the price is currently retesting it. You can consider opening a long position with a tight stop loss below the support area. There's a possibility of the upward movement continuing towards the resistance area.

Crypto VIP Signal

05 Sep 2024 20:06

AR analysis:

Price is now testing the resistance area and a break above this area will send the price towards the major resistance area. A rejection from here will send the price towards the support area and this is the zone for new entries.

Support Area: $15.00-$16.50

Resistance Area: $21.50-$23.00

Crypto VIP Signal

05 Sep 2024 15:08

Educational Post

What is Fungibility?

An asset is considered fungible when its units are interchangeable with one another, meaning they are indistinguishable. In other words, an asset class is fungible when each unit of the asset has the same validity and market value. For example, a pound of pure gold is equal to any other pound of pure gold, regardless of the shape. Other examples of fungible asset classes may include commodities, fiat currencies, bonds, precious metals, and cryptocurrencies.

However, an equal exchange of a fungible asset does not necessarily mean exchanging of two identical units. As long as the transaction happens between instruments of the same kind and that share the same functionality, it can be considered as an equal exchange. For instance, a five-dollar bill can be exchanged with five one-dollar bills, but they have the same validity. In this example, the US dollar is the fungible asset, while the bills merely represent their underlying value.

In general, most cryptocurrencies are considered fungible assets. For example, we may consider Bitcoin fungible because each unit of BTC is equivalent to any other unit, meaning they have the same quality and functionality. So it doesn’t really matter in which block the coins were issued (mined), all Bitcoin units are part of the same blockchain and have the same functionality. Note that if someone forks the blockchain and create a new Bitcoin, those coins won’t be considered original as they would be part of another network.

It has been pointed out that due to the inherent traceability of BTC and similar cryptocurrencies, some coins might be less desirable than others - especially if they have been previously used in dubious or illicit activities. This means that some merchants or service provides may deny receiving Bitcoins as payments if they believe those particular coins were used by criminals in the past.

Unlike some tend to believe, however, this fact doesn’t remove Bitcoin’s property of fungibility. Traceability and fungibility are two different things and, despite their transactional history, each Bitcoin is still the same in terms of quality, technology, and functionality. Similarly, the US dollar is still a fungible asset, although criminals have been using it for illicit activities for many decades.

Crypto VIP Signal

05 Sep 2024 08:41

Bitcoin experienced a minor price increase to trigger the liquidation of overleveraged positions. The current market is characterized by sideways movement and choppiness, which is likely to continue for the rest of the week.

Crypto VIP Signal

04 Sep 2024 16:17

From a macro perspective, the current spot price of Bitcoin is trading approximately 22% below its all-time high (ATH), a relatively shallow drawdown when compared to historical bull market trends.

Crypto VIP Signal

04 Sep 2024 08:41

Bitcoin is currently struggling to break above the $60,000 level and is heading downward. The price needs to remain above the $55,000 level; otherwise, the situation could deteriorate, potentially leading to a drop towards the $52,000 level. It might be a good time to consider accumulating some Bitcoin (BTC) and other altcoins for the mid-term.

Crypto VIP Signal

03 Sep 2024 13:03

JUST IN: The % of illiquid #Bitcoin supply has just hit a new all-time high!

Nearly 74% of $BTC circulating supply is now classified as illiquid, according to Glassnode data.

The Halving-induced supply shock is intensifying, tightening the squeeze as we approach the next major bull run.

Crypto VIP Signal

03 Sep 2024 05:02

Wallet Maintenance for BNB Smart Chain (BEP20) - 2024-09-05
https://www.binance.com/en/support/announcement/e1cd64521b7340009601cdb5be470677

Crypto VIP Signal

09 Sep 2024 14:57

Educational Post

What is GameFi?

GameFi, short for Game Finance, is a market segment within decentralized finance (DeFi) that combines blockchain technology with gaming. This innovative fusion aims to not only enhance interest in specific blockchain projects but also to deepen users' engagement with cryptocurrencies, creating a novel gaming experience.

GameFi introduced a groundbreaking play-to-earn (P2E) business model that redefines the gaming landscape. By offering tangible incentives for gamers' time and effort, such as in-game cryptocurrencies and non-fungible tokens (NFTs), it can transform digital gaming into a rewarding financial ecosystem.

How GameFi Works

At its core, GameFi leverages smart contracts, the programmable scripts on blockchains, to automate specific actions within games. These contracts bring a level of flexibility that allows for the creation of unique and innovative gaming experiences. Each game typically employs multiple smart contracts, tailored for distinct purposes like asset creation, reward distribution, and managing in-game economies.

Crypto Games vs. Traditional Games

GameFi development opens new revenue streams for game developers, attracting a dedicated user base that includes traditional gamers alongside traders and investors. Some platforms even enable developers and investors to earn a share of transaction fees when players trade, sell, or stake their digital assets within the GameFi ecosystem.

Crypto VIP Signal

09 Sep 2024 08:07

Bitcoin is continuing its expected sideways movement but struggling to hold above the $55,000 level. Similar choppy movement is anticipated for the next 2-3 days.

Crypto VIP Signal

08 Sep 2024 14:00

Solana's on-chain volume is hitting all-time lows once again. With the memecoin season coming to an end on Solana, the declining volume is becoming more evident.

Crypto VIP Signal

08 Sep 2024 08:18

Bitcoin is currently trading sideways below the $55,000 level. We will likely see slow, choppy movement for the next couple of days before the next significant move. Bitcoin is trading near the mining cost, so it may be a good time to accumulate some BTC for the long term.

Crypto VIP Signal

07 Sep 2024 16:42

Yesterday, the Spot #Bitcoin ETF experienced a massive outflow of over $170 million!

Crypto VIP Signal

07 Sep 2024 07:19

Bitcoin broke the symmetric triangle pattern in a downward direction with a big red candle. Things are turning bad, and the price touched the sub-$ $52,000 level. Let's see if the price can be able to reclaim the $55,000 level or not.

Support Area: $52,000-$53,000

Major Support Area: $48,000-$50,000

Crypto VIP Signal

06 Sep 2024 15:37

Short-term holders are bearing the brunt of market pressure, with increasing unrealized losses over the past few months. However, these losses haven't yet reached full bear market levels, resembling more the volatility of 2019.

Crypto VIP Signal

06 Sep 2024 08:31

Bitcoin is currently moving sideways and forming a symmetric triangle on lower time frames. There may be trading within the triangle for a while, and the breakout of this pattern will decide the next move.

Crypto VIP Signal

05 Sep 2024 16:12

The long-term holder (LTH) vs. short-term holder (STH) supply ratio is a key metric for investors. If you're a long-term investor, it's typically wise to follow the actions of LTHs, as they are less influenced by short-term market fluctuations.

Crypto VIP Signal

05 Sep 2024 12:38

DOGE analysis:

The price is currently trading within a falling wedge pattern and is approaching a crucial point. A breakout to the upside is considered bullish and is likely to initiate a strong rally. You may consider opening a long position near the support area or after breaking the falling wedge pattern to the upside.

Support Area: $0.0935-$0.0955

Resistance Area: $0.11-$0.115

Crypto VIP Signal

04 Sep 2024 20:09

THETA analysis:

Price has broken the falling wedge pattern and is currently testing the support area. Consider opening a long position around the support area with a stop loss. There is potential for a continuation of the upward movement.

Support Area: $1.05-$1.15

Resistance Area: $1.34-$1.45

Crypto VIP Signal

04 Sep 2024 13:31

TON analysis:

The price is currently in a downtrend following the arrest of Telegram CEO Durov in France. It is now testing the support zone and the price needs to hold this level. You could consider accumulating some TON here with a stop loss. If the price breaks below this support area, it could potentially drop to below $3.50.

Support Area: $4.50-$4.70

Resistance Area: $6.00-$6.25

Crypto VIP Signal

03 Sep 2024 20:26

ELF analysis:

Price is gradually approaching the support area. Consider opening a long position near the support area. There is a downtrend line acting as a resistance area, and a breakout above this line will likely result in a strong upward rally.

Support Area: $0.324-$0.337

Resistance Area: $0.48-$0.52

Crypto VIP Signal

03 Sep 2024 09:08

Bitcoin has rebounded after testing the support line. The price was able to break out of the falling wedge pattern in an upward direction but was rejected near the key level of $60,000. A falling wedge is considered a bullish pattern, and we might see another test of the $60,000 resistance level.

Crypto VIP Signal

02 Sep 2024 19:58

Educational Post

What are Market Makers and Market Takers?

Market Makers

Exchanges often calculate the market value of an asset with an order book. This is where it collects all the offers to buy and to sell from its users. You might submit an instruction that looks like the following: Buy 800 BTC at $4,000, for example. This is added to the order book, and it will be filled when the price reaches $4,000.

Maker (Post Only) Order like the one described requires that you announce your intentions ahead of time by adding them to the order book. You’re a maker because you’ve “made” the market, in a sense. The exchange is like a grocery store that charges a fee to individuals to put goods on the shelves, and you’re the person adding your own inventory.

It’s common for big traders and institutions (like those specializing in high-frequency trading) to take on the role of market makers. Alternatively, small traders can become makers, simply by placing certain order types that aren’t executed immediately.

Please note that using a limit order does not guarantee that your order will be a maker order. If you want to make sure the order goes into the order book before it is filled, please select “Post only” when placing your order (currently only available on the web version and desk version).

Market Takers

If we keep the store analogy going, then surely you’re putting your inventory on the shelves for someone to come and purchase it. That someone is the taker. Instead of taking tins of beans from the store, though, they’re eating into the liquidity you provide.

Think about it: by placing an offer on the order book, you increase the liquidity of the exchange because you make it easier for users to buy or sell. On the other hand, a taker removes part of that liquidity. with a market order – an instruction to buy or sell at the current market price. When they do this, existing orders on the order book are filled immediately.

If you’ve ever placed a market order on Binance or another cryptocurrency exchange to trade, say then you’ve acted as a taker. But note that you can also be a taker using limit orders. The thing is: you are a taker whenever you fill someone else's order.