Daily Crypto Roundup x 2 : ETH Approaching 1.6 as Shanghai Upgrade Draws Near , BTC TO 21K , SOL 24.68
bitcoinmacroblock.substack.com
Missed yesterday's daily round-up, was caught up with other projects but here it goes a long post.
The value of crypto, including Bitcoin, increased significantly in the past week, with Bitcoin reaching $21,000. Investors are now watching to see if this upward trend will continue or if there will be a decrease in value. An important level to watch is $23,000, while $20,000 is considered a level of support
- Top 3 Liquidations: $261.41M of ETH, $240.48M of BTC and $26.38M of SOL. - The largest single liquidation order happened on Huobi - BTC-USDT value $6.84M.
MORE THAN 722m LIQUIDATIONS IN THE PAST 24 HOURS. 132,692 TRADERS LIQUIDATED.
CRYPTO TOTAL MARKET CAP
Total market cap broke the trend and signaled a potential reversal.
ALTCOIN’S TOTAL MARKET CAP
Altcoin market cap about to do the same thing.
Instead of dropping to $10,000 to $12,000 as some predicted, Bitcoin soared to $21,000, returning to its pre-FTX levels and surprising the bears.
ETH
ETH It appears that the downtrend has been broken and that the market is on the rise.
Last week's Ethereum developer call brought good news to ETH stakeholders, as it signaled significant progress toward the Shanghai upgrade, which will allow stakeholders to withdraw their tokens. The main goal of the upgrade is to allow withdrawals as soon as possible, and developers hope to launch public testnets in February, with a tentative main net launch in March.
However, some are concerned that this will result in a flood of sell pressure as investors withdraw their holdings and send them to exchanges. However, this is unlikely to happen because staking will be gated, with a daily limit of approximately 43,000 ETH. At this rate, it would take approximately a year to dispose of all staked ETH. Furthermore, most sellers at these prices would be doing so at a loss and would prefer to wait until the market improved.
Furthermore, liquid staking protocols like Lido, Coinbase, and Rocket Pool allow ETH holders to benefit from staking yields as well as the opportunities provided by DeFi applications that accept liquidity tokens. This means that users may not feel compelled to rush for the exit, and there may be a net inflow of ETH to stake as users become more at ease with the staking flexibility. In conclusion, while some investors may choose to sell their holdings, the amount is unlikely to be significant and may have little impact on the market.
SOLANA
Despite being in a downtrend, we're gearing up to test that upper resistance 27-28 level and we just had an incredible recovery of 8-22$.Firedancer news is a major development that everyone missed as news....
Market Cap from 3B TO 8B IN JUST FEW DAYS.
SP500 Ready to lunch
An amazing week so far.
Note that breaking a downtrend is not always a sign of a sustained recovery and the market can still be volatile, so it's always important to do your own research and invest wisely
Daily Crypto Roundup x 2 : ETH Approaching 1.6 as Shanghai Upgrade Draws Near , BTC TO 21K , SOL 24.68
Daily Crypto Roundup x 2 : ETH Approaching 1.6 as Shanghai Upgrade Draws Near , BTC TO 21K , SOL 24.68
Daily Crypto Roundup x 2 : ETH Approaching 1.6 as Shanghai Upgrade Draws Near , BTC TO 21K , SOL 24.68
Missed yesterday's daily round-up, was caught up with other projects but here it goes a long post.
The value of crypto, including Bitcoin, increased significantly in the past week, with Bitcoin reaching $21,000. Investors are now watching to see if this upward trend will continue or if there will be a decrease in value. An important level to watch is $23,000, while $20,000 is considered a level of support
- Top 3 Liquidations: $261.41M of ETH, $240.48M of BTC and $26.38M of SOL.
- The largest single liquidation order happened on Huobi - BTC-USDT value $6.84M.
MORE THAN 722m LIQUIDATIONS IN THE PAST 24 HOURS. 132,692 TRADERS LIQUIDATED.
CRYPTO TOTAL MARKET CAP
Total market cap broke the trend and signaled a potential reversal.
ALTCOIN’S TOTAL MARKET CAP
Altcoin market cap about to do the same thing.
Instead of dropping to $10,000 to $12,000 as some predicted, Bitcoin soared to $21,000, returning to its pre-FTX levels and surprising the bears.
ETH
ETH It appears that the downtrend has been broken and that the market is on the rise.
Last week's Ethereum developer call brought good news to ETH stakeholders, as it signaled significant progress toward the Shanghai upgrade, which will allow stakeholders to withdraw their tokens. The main goal of the upgrade is to allow withdrawals as soon as possible, and developers hope to launch public testnets in February, with a tentative main net launch in March.
However, some are concerned that this will result in a flood of sell pressure as investors withdraw their holdings and send them to exchanges. However, this is unlikely to happen because staking will be gated, with a daily limit of approximately 43,000 ETH. At this rate, it would take approximately a year to dispose of all staked ETH. Furthermore, most sellers at these prices would be doing so at a loss and would prefer to wait until the market improved.
Furthermore, liquid staking protocols like Lido, Coinbase, and Rocket Pool allow ETH holders to benefit from staking yields as well as the opportunities provided by DeFi applications that accept liquidity tokens. This means that users may not feel compelled to rush for the exit, and there may be a net inflow of ETH to stake as users become more at ease with the staking flexibility. In conclusion, while some investors may choose to sell their holdings, the amount is unlikely to be significant and may have little impact on the market.
SOLANA
Despite being in a downtrend, we're gearing up to test that upper resistance 27-28 level and we just had an incredible recovery of 8-22$.Firedancer news is a major development that everyone missed as news....
Market Cap from 3B TO 8B IN JUST FEW DAYS.
SP500 Ready to lunch
An amazing week so far.
Note that breaking a downtrend is not always a sign of a sustained recovery and the market can still be volatile, so it's always important to do your own research and invest wisely
Do you respect the pump? :) ( it is just a joke )
The news collection X 2 - click on the picture if you are interested in the subject.
https://medium.com/surge-fi/introduction-to-surge-protocol-overview-34cc828d7c50
Share