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#BTC build-up a new consolidation range with resistance at $92,550 and support at $89,800. We have minor news in this week, and expect a breakout either sides.
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Use Cases for Tokenized Identity
Tokenized identity can be used by protocols in order to ensure the integrity of processes. For example, it could be used in airdrop distribution practices to enhance security and reduce Sybil attacks. This is to ensure that tokens are distributed to verified and eligible users, not bots.
It could also be used in DeFi protocols to ensure users who fulfill certain requirements (e.g. having a verified government-issued ID, collateral requirements, on-chain activity, wallet address reputation checks, etc.) can access features like lending or borrowing. This provides better cybersecurity protection and reduces the risk of hacks or exploits on a protocol.
In the context of web3 gaming, game developers should ensure every player on their platform is unique, especially when rewards or competitive play are involved to ensure the integrity and fairness of the game. Tokenized identity can be used to distribute in-game rewards securely. This is because it would determine that rewards are being claimed by legitimate players who maintain control of their wallets, preventing issues like reward farming through multiple accounts or unauthorized access.
Another notable use case for tokenized identity is regulatory compliance, specifically Know Your Customer (KYC) and Anti Money Laundering (AML), through identity verification and government-issued ID checks.
Tokenized identity can be used to prove users have verified identities without revealing sensitive personal information every time. Additionally, with the implementation of Markets in Crypto-Assets (MiCA), many crypto-asset service providers need to prepare for verification compliance, and tokenized identity can help streamline this.
Benefits and Challenges
With tokenized identity, data protection can be preserved as users can have more control and use of their identity data, from sharing portions of their identity data to revealing it completely. This is important to protect individuals from being unfairly targeted by groups such as governments and corporations. Additionally, since a user may not need to share sensitive data directly and constantly validate a user’s identity, tokenized identity could help reduce the risk of identity theft and data breaches.
The immutable nature of the information stored on the blockchain also means that certain behaviors can be proved if necessary. As transaction data is immutable and cannot be altered retroactively, tokenized identity provides a tamper-proof record of transactions. This can be crucial when it comes to instances like election voting, healthcare where historical information needs to be reliably accessed, banking loan applications, real estate to verify transfer history, and more.
Another advantage of tokenized identity is its interoperability across various decentralized applications (dApps). Users are able to prove their specific identity attributes without sharing extensive information repeatedly, streamlining the interactions in Web3.
However, there are challenges when it comes to the use and implementation of tokenized identity. The issue of data storage, i.e. the feasibility of storing user data in a completely decentralized and non-accessible way, continues to be challenging because it is expensive and operationally complex to set up. Cross-chain portability of the tokenized identity also remains an area of opportunities, since people may want to take their verified credentials to dApps in other ecosystems.
Another hurdle for tokenized identity is regulatory compliance, which varies by jurisdiction and will make implementation challenging. For example, European countries must adhere to the General Data Protection Regulation (GDPR)'s strict rules on data processing, user consent, and the right to be forgotten. Other regions, like the U.S., have their own laws, such as the California Consumer Privacy Act (CCPA), adding complexity to global implementation. Balancing these regulations with the decentralized nature of tokenized identity could be a challenge.
Bitcoin just had its biggest weekly price jump ever, gaining $11,600. This unusually strong move suggests investors are very optimistic about Bitcoin's future, especially with improving regulations.
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#BTC still moving with a very low volume and weekly candle had a decent rejecting wick. Market still in a range now, rejecting the support zone $89,500 - $89,800. This weekend either we'll have a deep retracement or new ATH.
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Here's the Analysis of #LUNA :
#LUNA rejected hard from the major resistance area of $0.55 - $0.56 and retracing back to the support zones around $0.36 and expected to reach out the strong support zone of $0.28 - $0.31. Price stuck in a range and need to see some sort of breakout now.
Bitcoin has historically reacted strongly to US presidential elections:
2016 (Trump win):
Before: Price up 35%, Investment up 20%
After: Price up 125%, Investment up 56%
2020 (Biden win):
Before: Price up 35%, Investment up 17%
After: Price up 307%, Investment up 196%
2024 (Current):
Before: Price up 10%, Investment up 13%
After so far: Price up 28%, Investment up 2%
While Bitcoin is still growing this election cycle, the gains are smaller than in previous elections. This might be because investors are waiting to see how future crypto policies will develop.
#BITCOIN WEEKLY TF UPDATE :
#BITCOIN on Weekly TF, looks very bullish and getting a small wick to the top. Price closing anyways looks good as minor retracement has to come along. Altcoins ight dip hard, so buy the dip.
Bitcoin ETFs in the US have been very popular, bringing in lots of money similar to when they first launched. However, investors have recently pulled some money out, possibly due to uncertainty around the upcoming US election. Despite this, Bitcoin's new all-time high price might attract new investors back to these ETFs.
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RWA coins are SURGING🚀
#ONDO and #OM are blasting off – it's ONLY a matter of time before #LTO joins the party🎯
Grab it before your future self kicks you for missing out!💸
#LTO/USDT looks a perfect buy here
Lying on weekly S/R level and accumulation going on from past few weeks above support zone
Stochastic RSI is flashing a HUGE bullish signal!
Looks ready for a takeoff anytime from here🚀✌️
Targets: $0.15- 0.175- 0.2- 0.26
30 minutes left untill massive news based SPOT call 🚀✌️
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BTC has found solid ground at EMA25 on 4h and trading above 91k$, the calm before the storm is here, and Alts are setting the stage for a powerful move so we're going to share a strong news based SPOT call at 12AM GMT TODAY
This call is unlike other calls—packed with breaking news and trending hype so be ready to act fast for insane gains today🚀
Exchange: Binance & MEXC
#BITCOIN DAILY TF UPDATE :
#BITCOIN on Daily TF, pumped harder the hit the $93,000 mark. Price build up a fresh support and resistance, likely to be in a consolidation range. Looking for breakout now by Monday Market Open.
Upcoming signal has been postponed for tomorrow.
Thank you for your understanding
happy trading. Stay tuned!
What Is Tokenized Identity?
Tokenized Identity, otherwise known as blockchain-based identity, is a subset of digital identity that leverages blockchain technology to verify and authenticate identities.
This involves verifying identity information and issuing a token that contains no personal or sensitive information. Identities are managed through tokens, and these tokens allow users to participate securely in Web3.
Tokenized identity refers to the representation of an identity as a digital token on a blockchain, enabling seamless, interoperable identity verification across platforms and applications.
A dApp would use tokenized identity to allow users to securely prove their identity or ownership of a specific credential without repeatedly sharing personal data, enhancing both security and user experience.
Tokenized identity is different from ZK technology, specifically zero knowledge proofs (ZKPs), which may be used to validate specific attributes of a user’s identity without revealing sensitive personal information when queried. ZKPs may function outside a blockchain, whereas tokenized identity relies on a blockchain to secure the token. Tokenized identity does not have the computational burden that ZKPs have.
Here's the Analysis of #AUDIO :
#AUDIO is been moving very clean inside the consolidation range and rejecting pin precisely both sides. Price need to see some sort of breakout either side and take the longs after that. The next key area of resistance will be $0.238 - $0.250.
#US30 UPDATE :
#US30 reached the expected level of structural support zone as mentioned, now its time to see if it got some rejection or a break below of the zone. Look for the LTF confirmation to have the buys or sells. Close below need to wait H1/ H4 candle close.
#LTO had an another aggressive leg up and hit the 2nd Target of $0.175 and even surpassed it. Price made a high of $0.185 which is 54% in profits. Secure more position here and hold rest with breakeven.
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#LTO had a strong jumped and nearly got into the 1st target making around 18% in profits. Secure some right here and hold the rest into further targets.
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#DXY UPDATE :
#DXY gained it strength which impacted the GOLD and currencies market but in crypto market saw the strong rally up. Now again index flipped the resistance and retested the zone as support and next week we might see some more dip in other market and crypto market too.
Here's the Analysis of #ALT :
#ALT is going though consolidation range and bouncing/ Rejecting off from the $0.097 - $0.10 and $0.13 - $0.14. Buys looks good on the retracement back to the $0.10.
BIG THINGS COMING FOR #LTO🚀
The team is dropping hints about the massive #RWA season ahead
Everything is lining up for an explosive pump Don’t sleep on this, the time to buy is NOW
Tweet link: https://x.com/TheLTONetwork/status/1857754740916105287
RWA sector is set to soar this bullrun with giants like BlackRock backing #RWA projects.
#LTO is the most UNDERVALUED #RWA GEM on Binance right now and is on the brink of a breakout just like #PEPE & #DOGE
Do whatever you want to do with this information🚀✌️
Buying #LTO/USDT here✌️
#LTO is moving inside a descending parallel channel and is on the verge of a breakout
We can anticipate a surge that could fuel a strong rally🚀
Buy on MEXC: https://www.mexc.com/exchange/LTO_USDT
Buy on Binance: https://www.binance.com/en/trade/LTO_USDT
Short term targets: 10%-30%-50%
1 hour left🚀
Get ready for a strong news based SPOT call at 12AM GMT today!
Exchange: Binance & MEXC
#ENA played out perfectly and moved 85.5% in profits breaking all the in between resistances areas. Price now getting a pullback and likely to move further higher towards the previous highs made. Buys look good at $0.50
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Here's the Analysis of #BOME :
#BOME is been stuck between the consolidation range and now rejecting from the resistance area of $0.010 - $0.011. Well, price looks like going to drop a little and need to wait for the breakout of the zone. Take the long or short as per the breakout and ride the move.
BTC has found solid ground at EMA25 on 4h, The calm before the storm is here, and Alts are setting the stage for a powerful move so we're going to share a strong news based call at 4PM GMT TODAY
This call is unlike other calls—packed with breaking news and trending hype so be ready to act fast for insane gains today🚀
Exchange: Binance & MEXC
Bitcoin's current profit-taking volume has risen to $635M per day, which is significant but still moderate compared to previous bull market peaks. While this increase shows healthy market activity, it's nowhere near the extreme profit-taking levels we saw during past euphoric phases. This suggests there's still room for growth before reaching the kind of excessive profit-taking typically seen at market tops.
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