Monat: Januar 2023

• Polygon [MATIC] broke out of its 12-day-long price consolidation range on Thursday, 26 January, offering a 15% gain.
• If the $1.1252 support level is secured in the next few days, MATIC could target its November high of $1.300 – a potential 15% rally.
• There were a handful of whale transaction counts above $100K by press time, which could indicate another price rally.

Polygon (MATIC) has seen a surge in interest over the last few days, as the cryptocurrency has broken out of its 12-day-long price consolidation range, offering investors a 15% gain. The breakout occurred on Thursday, 26 January, and has caused a flurry of activity in the market.

The key level to watch now is the $1.1252 support level, which if held could indicate a move higher to MATIC’s November high of $1.300 – a potential 15% rally. The Relative Strength Index (RSI) on the 12-hour chart is currently at 66, indicating a bullish bias and suggesting that the $1.1252 support level could hold. However, if the support level is broken, then bulls could find another steady level at $1.0733 in the event of a downtrend.

Another indicator that could point to a further surge in MATIC’s price is the number of whale transactions counts above $100K. According to Santiment data, there were several such transactions recorded by press time, and the historical pattern has shown that whale moves are often associated with price surges. This could suggest that MATIC holders could be in for further gains in the near future.

Overall, the breakout of the 12-day-long price consolidation range has offered investors a 15% gain, and if the $1.1252 support level is secured then MATIC could target its November high of $1.300. The number of whale transactions recorded could also indicate further gains, making MATIC a cryptocurrency to watch in the coming days.

• PancakeSwap recently concluded its special Lunar New Year jackpot event, and Whale interest increased, but price action remained dormant.
• PancakeSwap [CAKE] joined BNB and AvengerDAO to increase securities within the ecosystem.
• While these developments happened, CAKE’s performance on the price front remained pretty dormant.

PancakeSwap recently held a special Lunar New Year jackpot event, where 1,200 winning tickets matched the first 1–3 numbers, with the chance to win up to 26,530 CAKE. Following the event, whale interest for the token increased, with CAKE flipping BTCB to become the most traded token among the top 100 BSC whales, according to WhaleStats.

However, despite these developments, CAKE’s performance on the price front remained pretty dormant. According to CoinMarketCap, the token’s price declined nearly 0.5% in the last 24 hours, and at the time of writing, it was trading at $4.02 with a market capitalization of more than $685 million.

To further understand what went wrong, a closer look at CAKE’s on-chain metrics revealed that the token’s MVRV Ratio registered an all-time high of 8.91, indicating that the token has reached an overvalued level and could be facing a correction soon.

In order to increase securities within the ecosystem, PancakeSwap [CAKE] joined BNB and AvengerDAO, who have designed a unique community-run security infrastructure project to protect users on the BNB Chain from possible exploits, scams, and malicious actors.

Overall, although interest in CAKE has increased, it appears that the token is facing some predicaments due to its overvalued position. However, with the introduction of new security measures, it is possible that the token could see an increase in price action in the future.

• Ethereum (ETH) total value staked has recently surpassed 15.9 million, reaching a new all-time high.
• According to Crypto Quant, the total amount of ETH staked is now over $25.3 billion, representing over 13% of the total ether supply.
• In January 2021, the documented staking influx increased, reaching over 69,000, the most significant level since November 2022.

The Ethereum blockchain recently reached a significant new milestone as it surpassed 15.9 million in total value staked. This is the highest total amount of ETH staked since the launch of the Ethereum Beacon Chain back in 2020. According to Crypto Quant, the total amount of ETH staked is now over $25.3 billion, accounting for more than 13% of the total ether supply.

January 2021 has seen a notable increase in the total value staked. The documented staking influx reached over 69,000, the most significant level since November 2022. This influx is likely to be driven by the recent surge in ETH prices, as well as the increased interest in staking as a way to earn passive income. Furthermore, the security of the network has increased significantly as more ETH is staked.

The Ethereum blockchain is continuing to grow and evolve as more people become familiar with the network and its potential. With the increasing value of ETH, more people are likely to invest in staking, which will further increase the security of the network and the total amount of ETH staked. This could lead to more innovative applications being built on the Ethereum blockchain, as well as increased adoption. As the Ethereum ecosystem continues to expand, the total value staked is likely to increase further.

• Arbitrum generated higher revenue compared to other L2 solutions without offering token incentives, reaching $14.4 million.
• NFT trading volume surged on Arbitrum, with the upcoming launch of the Pudgy Penguins collection set to increase user numbers even further.
• The amount of ETH saved by Arbitrum users saw a surge over the past month, indicating lower costs compared to other layer-2 solutions. Stablecoin network growth on Arbitrum, however, has decreased gradually.

Arbitrum is a layer-2 solution that is quickly gaining traction as a viable solution for decentralized finance activity. The platform has seen increasing success in terms of both revenue and user numbers, with its unique approach of offering no token incentives to users providing a great advantage over other layer-2 solutions.

The most impressive aspect of Arbitrum is its ability to generate high revenue without the need to offer token incentives. According to data provided by the Token Terminal, Arbitrum generated $14.4 million in revenue without any token incentives, compared to Polygon’s $5.6 million with $599 million of token incentives and Optimism’s $7.4 million with $70 million of token incentives. This lack of overhead for Arbitrum could have a positive impact on the future of the layer 2 solutions.

Furthermore, the user base of Arbitrum is also growing rapidly. This is thanks to the upcoming launch of the popular Pudgy Penguins NFT collection, which is set to become a multichain collection. This would also add to the already increasing Arbitrum NFT trading volume.

Lastly, the amount of ETH saved by Arbitrum users observed a surge over the last month. This is likely due to the lower costs associated with using the Arbitrum network compared to other layer-2 solutions. The only downside to Arbitrum is that its network growth of stablecoins has decreased gradually, as per the data by Santiment. Although this does not affect the overall success of the platform, it is still worth noting.

Overall, Arbitrum is quickly becoming a viable solution for decentralized finance activity, offering a unique approach to layer-2 solutions without token incentives. With the growing revenue, user numbers, and NFT trading volume, Arbitrum could very well become one of the leading layer-2 solutions in the near future.

• Terra’s Mars Protocol launch boosts Cosmos Hub’s DeFi potential.
• Despite increasing TVL, revenue generated by Cosmos has decreased and stakers have lost faith in the network.
• This has also impacted the ATOM token, with its volume declining by 63%.

Terra recently announced the launch of its lending protocol, Mars Protocol, on the Cosmos Hub’s network. This could have a positive effect on the Cosmos Hub’s presence in the DeFi sector, as it would bring in a new protocol to the ecosystem. The Mars Protocol is set to launch its independent Cosmos appchain on 31 January 2023, and it will have its own native token, MARS.

Total Value Locked (TVL) on the Cosmos Hub had increased steadily, from $376,543 to $720,2303. This new development could add to this growth and significantly improve Cosmos Hub’s presence in the DeFi space, attracting more users and increasing the overall value locked on the network.

However, despite the increasing TVL, the revenue generated by Cosmos has declined steadily. Based on data from Token Terminal, it was observed that the revenue generated by the Cosmos Hub declined by 11.6% in the last 30 days. This decline in revenue could be a cause of concern for the Cosmos network, as there may be a lack of interest in it, which could affect its overall sustainability. In addition to the decline in revenue, stakers also lost faith in the Cosmos network, as the number of stakers decreased by 78.82%, as per Staking Rewards.

The declining revenue and staker interest in the Cosmos network has also impacted the ATOM token. According to data from Santiment, the volume of ATOM fell from 611 million to 225 million in the last month. This decline in volume could indicate a lack of interest in the token, which could have a negative effect on its price.

Overall, the launch of Mars Protocol on the Cosmos Hub’s network could have a positive effect on the DeFi sector, as it could add to the TVL on the network. However, the decline in revenue and staker interest in the Cosmos network could be a cause of concern, as it could affect the network’s overall sustainability. The decline in ATOM’s volume could also be a concern, as it could have a negative effect on its price. Therefore, it is important for the Cosmos network to find ways to increase its revenue and staker interest in order to ensure its long-term sustainability.

1. Solana experienced a 77% drop from $39 in early November to $8.62 in late December of 2022.
2. Technical analysis suggests that a breakout past $25.58 is likely and could lead to large gains.
3. The $24.34 level of support is a good risk-to-reward place to bid SOL at, with the 61.8% and 78.6% HTF resistance levels at $28.7 and $33.14.

Solana has had a rollercoaster of a ride in the past few months. In November and December of 2022, the price of SOL dropped a staggering 77%, going from $39 to $8.62. This was a large drawdown, and it seemed that Solana was in trouble.

However, in the last few weeks, Solana has seen a surprising comeback. Technical analysis suggests that this trend is likely to continue, with a breakout past $25.58 likely to lead to large gains. Fibonacci retracement levels have also indicated that a surge above $25.3 could be a sign of a move to $28.7 and higher.

Recent reports have highlighted a drop in important metrics alongside the prices in Q4 2022, but 2023 brought a shift with daily active addresses up by 47%. This suggests that the market is starting to turn around and could be a sign of a bull run.

As far as investments go, the $24.34 level of support is a good risk-to-reward place to bid SOL at. This is backed up by the 61.8% and 78.6% HTF resistance levels at $28.7 and $33.14, which could be used to take profits. Investors can also use the Solana Profit Calculator to check the status of their portfolios.

Overall, Solana may have had a rough few months, but it appears that the market is turning around and that there may be potential for large gains. Therefore, investors should keep an eye on the charts and be aware of the potential for a breakout past $25.58.

• The number of Ethereum validators has surpassed 500,000 as the network moves close to an upgrade.
• The total value of ETH staked is over 16 million, a new record.
• Ethereum’s Development Activity has seen a surge due to the increase in validators and smart contracts.

As Ethereum continues to move closer to an upgrade, the number of validators on the network has now surpassed 500,000. This milestone is a testament to the increasing interest in Ethereum and the growing demand for blockchain-based solutions.

At the same time, the total value of ETH staked on the network has also seen a new record, with the current value standing at over 16 million. This figure is worth over $25 billion at the current price of Ethereum. This is a significant increase from the previous quarter and is indicative of the growing demand for Ethereum-based solutions.

The recent increase in validators and the total value of ETH staked is also reflected in the growth of the platform’s Development Activity. According to data from Santiment, developer contributions have seen a surge. This surge is largely due to the increase in validators and smart contracts on the network. Additionally, the upcoming Shanghai upgrade is expected to further increase the demand for Ethereum-based solutions.

In Q4 2022, the number of smart contracts deployed on the Ethereum mainnet increased by 293% in comparison to 2021, hitting numbers comparable to the year’s peak. This is an indication of the potential of Ethereum and the increasing demand for blockchain-based solutions.

The surge in Ethereum validators, staked ETH, and development activity is a testament to the growing demand for blockchain-based solutions. As the network moves closer to the Shanghai upgrade, the demand is expected to increase further. This, in turn, is likely to have a positive impact on Ethereum’s price in the long run.

• Bitcoin whales have intensified their accumulation of the cryptocurrency for the past eight weeks, leading to a 26% growth in its price.
• Open Interest and Funding Rates revealed that investors harbored bullish sentiments.
• The count of BTC whales holding 100 – 1,000 BTCs rallied by over 3% in the last two months.

Bitcoin has seen a remarkable surge in its price in the last two weeks due to increased accumulation of the cryptocurrency by whales. Data from on-chain data provider Santiment indicated that the price of Bitcoin has grown by an impressive 26% since the start of the new trading year. This bullish momentum has been fuelled by the intensification of activity among whales, who have been accumulating Bitcoin in large amounts.

The count of BTC whales holding 100 to 1,000 BTCs has seen a 3% increase in the last two months, reaching 14,110 whale addresses. This increased demand for Bitcoin among whales is seen as a positive sign for the cryptocurrency, as it is often seen as a sign of a coming price rally. This sentiment has been further bolstered by the Bitcoin’s Open Interest, which has seen a steep 13% rise since 1 January 2023. Open interest refers to the number of outstanding contracts or positions that have not yet been settled. When open interest increases, it is often seen as a sign of increasing demand for the asset, which can result in a price rally.

In addition, funding rates on the Bitcoin network since 2023 have been consistently positive, as per data from CryptoQuant. The positive funding rates suggest that investors are more willing to hold onto long positions in Bitcoin, indicating that they expect the price to continue to rise.

All in all, the increased whale activity since the start of 2023 has been a major factor in driving up the price of Bitcoin. Increased demand from whales, coupled with positive indicators such as Open Interest and Funding Rates, has led to a surge in Bitcoin’s price. Investors have responded to these signals with bullish sentiment, leading to further price appreciation.

• Bitcoin holders may face a tough year in 2023, according to two on-chain metrics.
• CryptoQuant analyst Gigisulivan predicted that BTC may attempt to trade in the $20,000 to $22,000 price range following the release of favorable Consumer Price Index data.
• Another CryptoQuant analyst, Yonsei_dent, found that negative sentiment continues to grow as long-term holders of Bitcoin intensify their coin distribution.

Bitcoin [BTC] holders might have a tough time this year as the king coin continues to grapple with negative sentiment since the collapse of FTX. This is according to two on-chain metrics as revealed by CryptoQuant analysts Gigisulivan and Yonsei_dent.

Gigisulivan analyzed BTC’s Stock to Flow Reversion and opined that BTC’s price might dip further below the $16,700 price mark at some point in the current bear market. He predicted that BTC might attempt to trade in the $20,000 to $22,000 price range following the release of favorable Consumer Price Index data (CPI) next week. However, the analyst concluded that holders should not expect much, adding that, „Just a thought, considering 2023 could be worse than 2022 once we know what sort of recession we are getting.“

Yonsei_dent, on the other hand, assessed BTC’s Support Adjusted Dormancy indicator and found that it has been on an uptrend since the middle of December. He considered historical cues from BTC’s performance in the bear market of 2018 and found that it indicated an increase in sell-offs to hedge against further losses on investments.

With lingering negative sentiment since the fallout of FTX, many BTC holders have failed to see profits on their investments. This has caused a lot of anxiety and uncertainty amongst the crypto community, and it looks like the situation might not get any better in the near future. As such, it would be advisable for holders to remain cautious and look for other investment opportunities in order to protect their capital.

• Solana (SOL) saw an unprecedented surge in its price over the last week, outperforming all other cryptocurrencies on the market capitalization front.
• Its active wallets increased threefold after the FTX saga of 2022, while its development activity, Binance funding rate, and social volume also registered an uptick.
• LunarCrush’s data revealed that Solana was among the top 10 cryptos with the highest social mentions between 1 – 7 January, though its volume declined from 4 January.

Solana (SOL) had a very successful start to the new year, registering an unprecedented surge in its price over the last week. The token outperformed all other cryptocurrencies on the market capitalization front and was trading at $13.23 with a market cap of over $4.8 billion at the time of writing. The recent developments gave investors hope for recovery after a not-so-promising December, due to the FTX saga of 2022.

The incident had a positive impact on Solana in one aspect, as its active wallets increased threefold. Santiment’s data also revealed that Solana’s development activity increased, indicating that developers were working more to improve the blockchain. SOL’s Binance funding rate also registered an uptick, suggesting that it was in high demand in the derivatives market. The token’s social volume also went up, reflecting its popularity in the crypto community.

LunarCrush’s data further established SOL’s popularity, as it revealed that it was among the top 10 cryptos with the highest social mentions between 1 – 7 January. However, the token’s volume, after spiking along with the price, declined from 4 January, which was a negative signal. Nevertheless, if Solana manages to hit Bitcoin’s market cap, it could experience a 64.77x hike in its price, according to some estimates.

Overall, the surge in Solana’s price was a positive development for the ecosystem, and investors are hopeful that the token will continue to grow in the coming weeks. Time will tell if the token will be able to sustain the surge and reach new heights.