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๐Ÿ“Š Crypto Reports (May 1, 2024): 1๏ธโƒฃ BitMEX: Mining has reached a concerning level of centralization, with a single entity controlling the coins mined by nine major pools, effectively overseeing about 47% of the network's hash rate. โ›๏ธ 2๏ธโƒฃ CertiK: April 2024 witnessed cybersecurity-related incidents causing damages worth $25.7 million, marking a significant decline since 2021, as stated by experts. ๐Ÿ’ฐ 3๏ธโƒฃ CoinGecko: Analysts at #CoinGecko have unveiled a report detailing the trading volume of digital assets within the decentralized exchange (DEX) sector for March 2024. ๐Ÿ“Š 4๏ธโƒฃ CoinGlass: In the past 24 hours, positions of 115,936 traders totaling $363.2 million were liquidated, with approximately $312.6 million attributed to long positions and nearly $51 million to short positions. ๐Ÿ’น 5๏ธโƒฃ SoSo Value: April 30, 2024, saw a capital outflow of $161.59 million from the spot bitcoin #ETF sector, with only nine trading days falling within the "green" zone throughout the month. ๐Ÿ“‰ ๐Ÿ“ฉ If you found this information valuable, intriguing, or insightful, consider subscribing for further updates!

๐Ÿ“Š Crypto Reports (May 1, 2024):

1๏ธโƒฃ BitMEX: Mining has reached a concerning level of centralization, with a single entity controlling the coins mined by nine major pools, effectively overseeing about 47% of the network's hash rate. โ›๏ธ

2๏ธโƒฃ CertiK: April 2024 witnessed cybersecurity-related incidents causing damages worth $25.7 million, marking a significant decline since 2021, as stated by experts. ๐Ÿ’ฐ

3๏ธโƒฃ CoinGecko: Analysts at #CoinGecko have unveiled a report detailing the trading volume of digital assets within the decentralized exchange (DEX) sector for March 2024. ๐Ÿ“Š

4๏ธโƒฃ CoinGlass: In the past 24 hours, positions of 115,936 traders totaling $363.2 million were liquidated, with approximately $312.6 million attributed to long positions and nearly $51 million to short positions. ๐Ÿ’น

5๏ธโƒฃ SoSo Value: April 30, 2024, saw a capital outflow of $161.59 million from the spot bitcoin #ETF sector, with only nine trading days falling within the "green" zone throughout the month. ๐Ÿ“‰

๐Ÿ“ฉ If you found this information valuable, intriguing, or insightful, consider subscribing for further updates!

Disclaimer: Includes third-party opinions. No financial advice.ย See T&Cs.
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๐Ÿ“ˆ Prediction (ETH and LTC): ๐Ÿ˜ ETH/USDT - #Ethereum briefly dipped below the $3,000 mark, and further decline could lead to a two-month low. However, the likelihood of this event is diminishing as investors regain confidence in the altcoin's prospects. According to data from the Santiment analytical platform, the number of #ETH transfers to exchanges has significantly decreased. This indicates that selling pressure is subsiding, and market participants prefer to hold onto their coins. Forecast: Currently, Ethereum is trading within a descending wedge and is approaching a breakout. If successful, the asset's price could rise by 28% to the key level of $4,000. However, a confident confirmation of $3,000 as support and movement towards $3,500 seem like a more realistic scenario. Nevertheless, ETH still risks falling to the lower boundary of the wedge, coinciding with the $2,800 mark. This would lead to increased losses and a potential plunge to $2,600, rendering the bullish thesis invalid. ๐Ÿคซ LTC/USDT - Litecoin's price tends to react to investor behavior, and there's currently an increase in #LTC holder activity on the network. The number of addresses conducting transactions has increased by 22.66% over the past three weeks, from 353,000 to 433,000. Such growth in active addresses is observed for the first time in almost six months. The last time this occurred was in November 2023. Forecast: Litecoin's price is breaking out of the "Descending Triangle" reversal pattern. This bullish formation on the chart promises a potential trend reversal from bearish to bullish if the price breaks above the upper boundary of the pattern. Considering the aforementioned factors, the altcoin could initiate a potential rally of 27% towards the pattern's target at $102. However, for this to happen, LTC's price must first turn resistance at the $86 level into support. If this bullish breakthrough fails, #Litecoin may break support at $79, leading to the nullification of the pattern and the bullish scenario. In this case, the price could fall to $76 and below. ๐Ÿ“Š Share analysis!
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๐Ÿช™ Crypto News (May 10, 2024): 1๏ธโƒฃ Cardano Foundation: The #Cardano Foundation, a non-profit organization headquartered in Switzerland and overseeing the cryptocurrency ADA, has appointed Giorgio Zinetti as its new Chief Technology Officer (CTO). Zinetti's focus will be on open-source solutions. ๐Ÿ” 2๏ธโƒฃ Optimism: Third-tier networks (L3) can now integrate into the Superchain ecosystem using the OP Stack technology stack. ๐Ÿ”„ 3๏ธโƒฃ DeDust: DeDust.io, a decentralized exchange on The Open Network (TON) blockchain, has launched staking for its native token SCALE. To participate, users need to visit the Staking #SCALE page, connect their TON-supported wallet, and click the Stake button. Staking has no minimum requirement. Withdrawals can be made after 72 hours or immediately with a 5% commission. ๐Ÿ’ผ 4๏ธโƒฃ Decentralized Recovery Alliance: #Ripple has joined Swirlds Labs and the Algorand Foundation as a founding member of the DeRec Alliance. This initiative aims to simplify the implementation and recovery of digital assets. In January, Limon Baird, co-founder of Hedera, conceived DeRec Alliance as an open-source project to establish methodologies and industry standards for convenient, secure, and decentralized asset recovery across all wallets. ๐Ÿ›ก๏ธ 5๏ธโƒฃ PR Newswire: #Canaan unveiled the flagship product of the next generation of cryptocurrency mining devices, the A1566 series Avalon A15, at the Bitcoin Asia 2024 exhibition. ๐Ÿš€ ๐Ÿ‘ If you haven't already subscribed, consider hitting the subscribe button for more updates like these!
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