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• Binance Coin [BNB] has reacted extremely positively over the past two days of trading, gaining 20.5%.
• The daily market structure for Binance Coin appears to be bullish again and could see a retracement before a sustained move higher.
• Spot CVD surged past February highs in response to strong demand, but Open Interest declined slightly.

Binance Coin Reacts Positively

Binance Coin [BNB] reacted extremely positively over the past two days of trading, with gains of 20.5%. This was likely due to bullish euphoria from Bitcoin’s recent surge in value.

Daily Market Structure Bullish

On the daily timeframe, the market structure for Binance Coin seemed to be bullish once more. A strong confluence of support at $292 was noted and the Volume Profile Visible Range showed that the price was right above the Point of Control at $304.2. The Value Area High and Low were found at $322.8 and $274.7 respectively, indicating that these levels could act as potential areas of interest for buyers.

Spot CVD Surges

Spot CVD surged past February highs in response to strong demand, though Open Interest dipped slightly over 48 hours in spite of rising prices – an indication that sentiment might be flipping back towards buying pressure again soon.
The funding rate had become positive after being negative for two days, suggesting longer-term buyers could enter now or wait for a pullback into the $285-$292 zone before doing so safely.

Risk-Averse Traders Can Wait

Risk-averse traders may want to wait for a positive reaction over three days before looking to buy and trade with the trend too – this will ensure their entry is safe and profitable in the long run too.

Disclaimer

The information presented does not constitute financial, investment, trading or other types of advice and is solely the writer’s opinion

• The data from Santiment and Staking Rewards suggests that the number of long-term stakers for Ethereum has decreased by 31% in the past 10 weeks.
• Despite this, retail investors are showing increased interest in ETH, indicated by a 7-month high in the number of addresses holding more than 0.01 coins.
• Whale investors have also been buying into ETH, which may be beneficial in the short term but could lead to price volatility if they decide to sell off their holdings.

Declining Interest From Long-Term Stakers

According to Santiment, holdings of Ethereum’s long-term stakers have fallen by 31% over the last 10 weeks. In fact, the data suggests that most of the assets of these stakers are currently undervalued. This can be underlined by the declining realized value of ETH 2.o stakers. Despite having low returns, stakers have continued to show interest in ETH.

Retail Investors Showing Increased Interest

Data from Staking Rewards indicated that the number of stakers on the Ethereum network have continued to rise. Over the past month, the number of stakers on the network increased by 6.14%. At press time, there were 544,248 addresses staking ETH. Not only stakers, but retail investors also demonstrated their interest in Ethereum. According to Glassnode’s data, the number of addresses holding more than 0.01 coins rose materially over the past few months. As staker and retail interest begins to rise and the Shanghai Upgrade inches closer, many traders are starting to place bets on Ethereum’s future. The same was evidenced by rising Open Interest in Ethereum on BitMEX, with the same hitting a 4-month high of $76,153,778.12 at the time of writing.

Bearish Sentiment Among Traders

However traders‘ sentiment against Ethereum has started to turn bearish according to Coinglass’s data which indicates that 54% all positions taken against Ethereum are short positions as opposed to long ones recently taken out on other assets such as Bitcoin (BTC).

Whale Investors Buying Into ETH

Despite this bearish sentiment from traders whale investors continue pour money into Eth pushing up its market capitalization when measured against other crypto currencies such as Bitcoin (BTC). New addresses however did not share this enthusiasm with whales as evidenced by declining network growth numbers suggesting fewer new people entering cryptocurrency markets with eth being bought for first time .

Conclusion

With multiple moving factors at play only time will tell how things play out for Ethereum in terms or price movements and overall popularity among investors both institutional and retail alike .

• Blur has overtaken industry leader OpenSea in NFT transfer volume following the BLUR token airdrop.
• Blur’s zero-trading fee model and optional royalty payments have contributed to its success.
• Comparing sale sizes reveals that Blur creates a more lucrative sales atmosphere than OpenSea.

Blur Overtakes OpenSea in NFT Transfer Volume

Glassnode recently reported that since its launch in October 2022, Blur [BLUR] has gained significant traction, overtaking industry leader OpenSea in NFT transfer volume. This surge came after its token AirDrop on 14 February, with its NFT transfer volume jumping from 48% to 78%.

Success Factors of Blur Platform

The success of the platform is attributed to its nature as a professional trading platform for NFTs, offering a zero-trading fee model and optional royalty payments. In addition, following the BLUR token AirDrop, the platform implemented a token reward system that incentivizes users to post bids. This has enhanced market depth and increased NFT sales frequency, leading to improved liquidity and trading experiences.

OpenSea’s Attempts at Countering Blur

In response to this success, OpenSea restructured their fee model and policies but had limited impact due to the platforms having different user bases. Comparatively speaking, Blur also has a higher daily sales frequency per unique user which creates “a flywheel effect” with more sellers feeling confident listing on their platform creating an even larger offering for buyers.

Sales Atmosphere Comparison Between Platforms

Comparing sale sizes revealed that Blur created a more lucrative sales atmosphere as evidenced by sale amounts ranging from 0.3 to 1.3 ETH while OpenSea has maintained an average of approximately 0.2 ETH for several months.

Impact on Ethereum Network

Although there might have been increased demand in blockspace and validator fees on Ethereum due to Blur’s activity, it was found that the number of new addresses on Ethereum remains low – suggesting that most users are transferring existing funds rather than depositing new ones onto the network when making transactions on either marketplace

• Huobi Global, popular cryptocurrency exchange, announced plans to apply for a trading license in Hong Kong.
• Justin Sun, advisor of the exchange, revealed that they will also launch a new exchange called Huobi Hong Kong.
• The news prompted an enthusiastic response from Huobi Token [HT] as its price surged 20%.

Huobi Global Applies for Trading License in Hong Kong

Popular cryptocurrency exchange Huobi Global will apply for a trading license in Hong Kong, the exchange’s advisor, Justin Sun, announced on Twitter on 20 February. Sun added that Huobi will also launch a new exchange named Huobi Hong Kong which will adhere to local regulatory laws and target institutional investors from Hong Kong and other Asian markets.

Enthusiastic Response From Huobi Token [HT]

The news sparked an enthusiastic response from Huobi Token [HT] as its price jumped nearly 20% to hit $6.19 at the time of writing this article, per data from CoinMarketCap. Network activity exploded with the daily active addresses for the token spiking 75% from 17 February while the velocity moved in an ascending trajectory as well.

Pro-Crypto Policy Part of HK Ambitions

The pro-crypto policy is part of Hong Kong’s ambitious attempt to establish itself as a global crypto trading hub. The Securities and Futures Commission (SFC) of Hong Kong released new guidelines for crypto trading platforms looking to apply for a license under the new regime which allows retail investors to trade popular crypto currencies like Bitcoin [BTC] and Ethereum [ETH].

Huobi Hoping To Shake Off Pessimism

The news comes following months of pessimism surrounding the financial health of big cryptocurrency exchanges such as Huobi Global who were at the receiving end of mass layoff speculation last month. It is hoped that this latest move would help them shrug off any doubts about their future prospects.

Indicators Point Towards Bullish Momentum

Indicators like Relative Strength Index (RSI) and Awesome Oscillator (AO) gave overwhelming bullish signals pointing towards further gains in HT’s price despite doubts over whether it could maintain such momentum in the short term.

• Binance Coin [BNB] has maintained a steady number of users on its network for some time.
• BNB is making efforts to boost its GameFi and NFT ecosystems with partnerships.
• Investors‘ confidence in BNB is increasing as seen from on-chain metrics and sentiments.

Overview of Binance Coin

Binance Coin [BNB] has been consistently attracting more than 2 million weekly users to its platform, while the daily average users stood at 820,000 and the daily transactions exceeded the 2.8 million mark. The cryptocurrency is also stepping up its game in terms of its GameFi and NFT ecosystems with new partnerships.

GameFi Ecosystem

The latest partnership of BNB was with GAIMIN which aims to support developers in building and launching Web3 games to accelerate the growth of blockchain-based games. However, data suggests not much growth was registered as BNB’s gaming weekly average users did not increase by any significant margin. Furthermore, the NFT space too failed to register growth but showed signs of revival after slight spike in February 2023’s statistics.

Increasing Investors Confidence

Investors’ confidence in BNB doesn’t seem to have dwindled; rather, it increased, as was evident from looking at Santiment’s chart which showed that total supply held by top addresses went up over the last 30 days reflecting higher investor faith in the coin. On-Chain metrics also supported BNB as development activity increased along with positive sentiments around BNB spiking quite a few times recently.

Bulls are here

After days of bearish markets, bulls made an appearance reflected by Metrics and market indicators favoring them; however velocity was concerning as it went southwards lately but nothing major enough to deter investors’ faith in BNB as they continued accumulating coins signaling positive sentiment towards this crypto asset going forward into 2023-24 period

Conclusion

Overall, it looks like investors are optimistic about what lies ahead for Binance Coin [BNB], despite certain concerns regarding velocity which can be resolved soon with appropriate measures taken by developers or market forces themselves leading to further upside potential for this cryptocurrency in near future..

• EthereumFair, the first fork of the Ethereum blockchain, plans to establish a DAO and fork the Dogecoin network in response to the switch to the Proof-of-Stake consensus mechanism.
• The primary reason behind this proposed Dogecoin network fork is to ensure that the PoW consensus mechanism that the meme coin network currently operates does not change.
• The intended fork is expected to address the growing contradiction between a large number of retail investors and centralized investors in Dogecoin.

EthereumFair Plans To Fork Dogecoin

EthereumFair, the first fork of the Ethereum blockchain in response to its switch to the Proof-of-Stake (PoS) consensus mechanism, has announced plans to establish a DAO and fork the Dogecoin network. The primary goal of this proposed Dogecoin network fork is to ensure that it forever remains a PoW (Proof-of-Work) network, thereby safeguarding its original design from any changes due to external factors in future.

Motivation Behind Forking

The decision by Ethereum developers to switch from PoW consensus algorithm was met with resistance from miners who have been committedly maintaining its blockchain through PoW mining process. As such, a split faction of miners, including EthereumFair developers decided on forking Ethereum’s blockchain and preserving its original protocol. Additionally, this proposed fork will allow compatibility with Ethereum Virtual Machine (EVM), which has become an industry trend as well as separate Wright’s mining algorithm from Dogecoin and enable participation of Ethereum graphics card mining machines on it.

Fork Benefits

This planned fork intends to address growing clash between centralized and retail investors over Dogecoin operations. Moreover, post successful completion of this process, it will keep 1:1 ledger but make some alterations in its mining algorithm shifting Bitcoin series into Ethereum series while keeping PoW consensus intact.

Community Involvement

In order for successful implementation of this project various stakeholders need their input prior finalizing its development processes. As such today we discussed same issue with #DogeCoin community while #ETHF technical team will help out with #DogeCoin’s Fork implementation .

Conclusion

It is hoped that with collective efforts from all parties involved in this project will eventually allow smooth transition without disrupting any existing protocols or causing any data loss during migration process towards new version ensuring preservation of original purpose for which it was built – decentralization & security along with continuous innovation opportunities for everyone involved

• The proposed launch of Shibarium has improved sentiment towards SHIB, a meme cryptocurrency.
• SHIB’s price has seen an increase of 48% since January 1st and is trading at its pre-FTX collapse level.
• Indicators such as the Relative Strength Index (RSI) and Money Flow Index (MFI) have been in an uptrend, indicating increased demand for the coin.

The crypto world has been eagerly awaiting the launch of Shibarium, a layer-2 blockchain built atop the Ethereum network and designed to be powered by the Shiba Inu ecosystem tokens, which include SHIB, LEASH, and BONE. The project’s developers have kept the community informed that the beta version of the network will be deployed soon, and the launch of Shibarium has resulted in an improved sentiment towards SHIB, a meme cryptocurrency.

Since the year began, the coin has seen a growth in its price, which has been attributed to the ongoing bull run in the general market. According to data from CoinMarketCap, SHIB’s price has grown by 48% since 1 January and is currently trading at its pre-FTX collapse level.

An assessment of SHIB’s performance on the daily chart revealed that the crypto has seen increased demand in the past few weeks, causing coin accumulation to rally to levels last seen before FTX’s fallout in November 2022. Indicators such as the Relative Strength Index (RSI) and Money Flow Index (MFI) have been in an uptrend, indicating increased demand for the coin.

Despite the improved sentiment towards SHIB, investors seem to be running out of patience. The crypto market is highly volatile and unpredictable, and investors are eagerly awaiting the launch of Shibarium in order to keep up with the market. The question remains: will the launch of the layer-2 blockchain bring more good news for SHIB? Only time will tell.

• Bitcoin is currently trading at levels not seen for the past few months, and institutional investors are placing substantial bets on it.
• The Basel Committee of the BIS estimates that global banks currently own over $9 billion in cryptocurrency, with Bitcoin and derivatives based on it accounting for 56% of the total.
• History has shown that bull runs in the price of Bitcoin typically last four years, and some scholars believe 2023 might mark the start of the accumulation phase.

The world of cryptocurrency has been abuzz with activity in recent weeks, with Bitcoin leading the way. After a period of prolonged selling pressure, the king coin has been slowly regaining its footing and is currently trading at levels not seen for the past few months. This resurgence of demand has been driven in part by institutional investors placing substantial bets on the cryptocurrency.

Recent reports by the Basel Committee of the Bank for International Settlements (BIS) estimates that global banks currently own over $9 billion in cryptocurrency, with Bitcoin and derivatives based on it accounting for 56% of the total. This shift in institutional investor behaviour is being spearheaded by the likes of Michael Saylor, co-founder of MicroStrategy, who holds approximately 130,000 BTC, or 0.62% of the 19 million Bitcoin currently in circulation.

The bullish outlook for Bitcoin is further bolstered by historical data, which shows that bull runs in the price of the cryptocurrency typically last for four years. This cycle is usually followed by the accumulation of Bitcoin, which is then followed by an uptrend, selling or distribution of the cryptocurrency, and finally a downtrend. Some scholars believe that 2023 might mark the start of the accumulation phase, which could result in a surge in prices.

Moreover, in an environment where economic news has prompted investors to reevaluate their assumptions that the Federal Reserve would switch to a more dovish monetary policy any time soon, Bitcoin serves as a form of protection, allowing them to hedge against possible losses in U.S. stocks. According to Bloomberg strategist Mike McGlone, the Fed’s interest rate negotiations will heavily influence the price of Bitcoin, which could be beneficial to those who have already invested in it.

In conclusion, Bitcoin continues to draw institutional investors more than any other cryptocurrency, and its recent price recovery suggests that the market is heading in a positive direction. With a bullish outlook from the likes of Michael Saylor and historical data indicating a four-year bull run, it is likely that 2023 will mark the start of the accumulation phase of the cryptocurrency. Additionally, the Fed’s interest rate negotiations will have a direct impact on the price of Bitcoin, making it an attractive investment for those looking to hedge against losses in U.S. stocks.

• Bitcoin [BTC] hit a milestone of $19,000 in the late hours of 12 January.
• Plan B predicted that the five-month Short Term Holder (STH) count had already crossed into the having billed for 2024, leading to a BTC price of over $32,000 after the 2024 halving.
• Plan B projected that the bull market could return to occur in the following year, predicting the coin price hits $100,000.

The crypto market has been abuzz with excitement after Bitcoin [BTC] hit an unexpected milestone of $19,000 in the late hours of 12 January. This was the highest price of the coin in the past three years, leading to discussions around a possible bull market return.

The optimism behind Bitcoin [BTC] has been unusually high since the coin began 2023 on a bullish note. Having hit $18,000 on 11 January, the number one cryptocurrency in market value followed through with an unexpected landmark.

Plan B, the creator of the stock-to-flow model, suggested that the $15,500 region of November 2022 was the bottom of this cycle. He opined that the five-month Short Term Holder (STH) count had already crossed into the having billed for 2024. This would lead to minimal pullbacks and a BTC price of over $32,000 after the 2024 halving.

The on-chain analyst also projected that the bull market could return to occur in the following year, predicting the coin price hits $100,000. He discussed the correlation between Bitcoin [BTC] and the traditional markets, as well as the UTXO condition, noting that this could potentially halt the coin’s uptrend.

Overall, the crypto market has been highly optimistic about Bitcoin [BTC], and with the coin’s recent milestone, many are expecting that the bull market could return soon. With Plan B’s prediction of a $32,000 BTC halving price and a new ATH in 2025, the crypto community is looking forward to the future of the coin and the entire market.

•Avalanche (AVAX) investors had a good start to 2023 with the token registering massive gains on its chart.
•CryptoQuant’s data revealed a major bearish signal, which might restrict AVAX’s price from going up any further in the coming days.
•Avalanche’s NFT ecosystem witnessed growth, as AVAX’s market cap increased by 8%, while its volume went up by nearly 20%.

Avalanche (AVAX) investors had their expectations met with the token registering massive gains on its chart in the start of 2023. According to CoinMarketCap, AVAX’s price increased by over 30% in the last seven days, and at the time of writing, it was trading at $15.35. This can be attributed to Avalanche’s latest partnership with AWS, which would promote the widespread use of blockchain technology in businesses and government agencies.

However, the investors were cautious as CryptoQuant’s data revealed a major bearish signal, which might restrict AVAX’s price from going up any further in the coming days. The Relative Strength Index (RSI) was in an overbought position, suggesting a trend reversal soon.

On the other hand, Avalanche’s NFT ecosystem also witnessed growth, as per AVAX Daily, AVAX’s market cap increased by 8%, while its volume went up by nearly 20%. This has been further boosted by the launch of the Avalanche Launchpad, which is a platform for developers to create, deploy and manage their own decentralized applications.

Moreover, Avalanche is also making strides in the DeFi space, with projects like Benqi Finance, Alpha Ventures, and Aave existing in the ecosystem. These projects are contributing to the growth of the token, and investors are optimistic about the future of the project.

Overall, Avalanche is making strides in the blockchain space, with its partnership with AWS, NFT and DeFi projects, and the launch of the Avalanche Launchpad. Investors should be cautious as the RSI is in an overbought position, but are still optimistic about the future of the project.