How do I read the order book? - cyptoranking.com

2024-05-01

Popular crypto exchanges(2023 Update) 2024-05-01
Image: cyptoranking.com

“Huge week for inflation and the Fed,” financial commentary resource The Kobeissi Letter summarized in part of an X thread.“In addition, markets will react to geopolitical tensions from this weekend. Volatility is the new normal.” NVT signal spikes to highest since 2018Within Bitcoin, the network value to transaction (NVT) signal leads the pack on on-chain metric volatility to start the week.NVT, which its creator, Dmity Kalichkin, describes as a “PE ratio” for Bitcoin, seeks to estimate local BTC price tops and bottoms by comparing market cap to daily on-chain transaction values.The latest data from on-chain analytics firm Glassnode shows NVT hitting its highest levels in five years — over 1,750 and far beyond its position at the start of 2023.Bitcoin NVT signal chart. Source: Glassnode/XNVT has undergone various overhauls in recent years, as the dynamics of the BTC supply call for different guidance figures for determining price tops.“If the trend towards side-chains and private transactions continues, we can expect less-and-less transactions to be captured in the public on-chain data (reducing the relative value of the “T” in NVT),” Charles Edwards, founder of quantitative Bitcoin and digital asset fund Capriole Investments, wrote in part of his own research in 2019.“This could cause the fair value NVT range to increase with time.”Analyzing the NVT spike, crypto market intelligence platform IntoTheBlock suggested that it was representative of a broader metamorphosis.“The lens through which we view Bitcoin's value is changing,” it wrote at the weekend. “Transaction value & volume were once the go-to metrics. However, recent spikes in NVT ratios hint that Bitcoin's value is now moving independently of transactional utility, hinting at its growing role as a store of value.”Neither fearful, nor greedyProviding a fleeting insight into crypto market sentiment, the classic Crypto Fear & Greed Index reflects an overall air of indecision.Related: Bitcoin bull market awaits as US faces ‘bear steepener’ — Arthur HayesThe average investor is ambivalent when it comes to the market, as shown by the Index sticking rigidly to its “neutral” territory.As of Oct. 9, Fear & Greed is at 50/100 — exactly half way along its scale between two sentiment extremes.Zooming out, recent months have marked some of its least volatile conditions on record.“You know the drill, i will be mass buying when we drop down to Extreme Fear and a $20,000 Bitcoin,” popular trader Crypto Tony reacted to the latest data. “May take a while, but i feel Q1 / Q2 2024 will be the ticket. If i see a change in behaviour i will re-evaluate.”Crypto Tony referenced an inkling that BTC/USD will return to $20,000 for a final retest before expanding higher after the 2024 block subsidy halving. Crypto Fear & Greed Index (screenshot). Source: Alternative.meThis article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision. Cloud mining profitability is determined by a number of factors, including the price of cryptocurrency, mining difficulty, block reward, contract expenses, and provider and pool fees. Before investing in cloud mining, it is critical to evaluate possible returns and examine market conditions. Keep in mind that cryptocurrency markets are extremely unpredictable, and profits can fluctuate dramatically. How do I read the order book?General Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.MATIC May Drop to $0.3599 in the Next Few Weeks, Says Analyst According to IntoTheBlock data, Ethereum is currently hovering above a demand zone with a lower support level of $1,533. This is where 2.39 million ETH were bought by 1.83 million Ethereum addresses.

Exchange Rankings Crypto
Image: cyptoranking.com

The debt forgiveness could potentially enable individuals who were previously burdened with debt to explore investment opportunities in crypto. Cryptocurrency exchange Coinbase announced the addition of the Polygon (MATIC) network to its multi-chain availability for USDC. How to Buy Dogecoin (DOGE)? Step-...In June, the SEC claimed that Binance and CZ falsely represented trading controls on the Binance.US platform, thereby misleading customers into maintaining their investments on the platform. Lubin: It’s very important to bring AI into the blockchain space. It’s even more important to bring decentralized protocols into the AI space. At Consensys, we have developers, we have end users and we are working to bring them closer together. We see a future in which our end users are increasingly going to be builders with low code. With no code tools, they’ll be able to stand up DAOs, mint NFTs.

“We’re excited to see big traditional equity assets managers come into the market; it’s a great validation of the space,” Hougan told Blockworks in an email. “For investors, the difference with Bitwise is that crypto is all that we do.” Blockworks: One argument made against more baked-in revenue creation for relays is that charging fees creates a slippery slope where fees increase and users find ways to circumvent relays. What would you say to this? How to Buy Eth?ereum (E?TH)Trader Joe's Goes After DeFi Namesake in Trademark Lawsuit, Seeks All Profits CCIP eliminates the need for developers to write chain-specific code, ensuring scalability and future-proofing. It is built to support ongoing updates, including the integration of new blockchains, advanced functionalities, and additional security measures. This ensures that integrating with CCIP will not result in switching costs if new cross-chain functionalities are required in the future.

The finale, dubbed Neo Era, will occur at CyberPort in Hong Kong on Oct. 27 and 28. At the finale, participants will compete in one of five categories for a chance to win $10,000 and incubation support. The categories include DeFi and Payment; NFT and Gaming; AI, Social, and DAO; Infrastructure and Tooling; and General. "I can't be in something where Mr. Bitcoin is about to go down big," he said during CNBC's "Squawk on the Street." Best Crypto (Fast, Cheap) To Transfer Between Exchanges ...“Many investors are now just waiting for pure exposure via spot ETFs instead of investing in futures ETFs,” she told Blockworks. “There are now hopes that we could see a spot bitcoin ETF approved much sooner than earlier anticipated. The debut of ether spot ETFs would not be far behind.” Bitget’s findings indicate that 51% of European users, 49% of Turkish users, and 46% of South Korean users allocated their investments within the range of $1,000 to $10,000.

Have an opinion on this story? Share it!