X App๐ฉ : @ygcrypto | Follow for the daily Crypto updates, you can get great Insights, i will post daily TA and will give you my Targets ๐ช and always DYOR ๐
BASE SURGES IN USER ACTIVITY ๐, But Polygon Retains Top Spot ๐
ERC-4337 smart accounts on #Base exploded last week, generating a whopping 47% of all UserOps (transactions) across various chains! This surge places Base as the leader in terms of UserOp volume.
However, #Polygon remains the king when it comes to active users. Despite Base's impressive UserOp numbers, Polygon still boasts a higher number of unique accounts interacting with the network each week.
This suggests that while #basechain users are highly active, Polygon has a larger overall user base. It's an interesting dynamic to watch as both chains vie for dominance in the user-friendly smart contract space.
ETHEREUM: Post-Halving Rollercoaster๐ข, But Still Upward Trend?
Similar to #Bitcoinโฏ, Ethereum's price initially dipped after the halving (Epoch 3 & 4). However, unlike its worst historical performance, $ETH has quickly rebounded (Epoch 5).
Epoch 3: +16% Epoch 4: -4% Epoch 5: +1.5%
While the short-term volatility is undeniable, #ETH is still in positive territory overall. This could indicate a different post-halving trajectory for Ethereum compared to previous cycles. $BTC
#Bitcoin climb continues! The price is steadily rising and nearing a key resistance zone ๐. Keep an eye out for potential volatility when US markets open, which could impact the uptrend for $BTC . ๐ฅ
Support and resistance levels haven't changed significantly. This might be a breakout opportunity. ๐งจ
#Ethereum pullbacks that mirror Bitcoin's, but with shallower dips - suggesting better handling of corrections. However, its deepest dive (-44%) pales compared to #BITCOIN (-21%), hinting at ETH's underperformance over 2 years. This weakness is reflected in a declining $ETH /BTC ratio.
BITCOIN: BULLISH Consolidation or Pending BREAKOUT?๐ค
#Bitcoin recent price action might seem like a choppy dance, but there are positive signs! While flipping support and resistance within a tight range, the price remains comfortably above $65,000 - a #bullish indicator in itself.๐
This consolidation could be a precursor to a new jump next weekend for $BTC . However, keep in mind we've also reached local resistance, so minor pullbacks are natural.๐ฆพ
WLD's downtrend continues with a confirmed bear flag pattern, typically a #bearish continuation signal. Price dipped below the key resistance zone of $5.63 - $6.13. However, the market sentiment shift might trigger a price reversal for $WLD .
Here's what to watch:
Breakout Direction: A breakout above the resistance zone could signal a trend reversal, while a break below could indicate further decline.๐
Volume: Monitor trading volume on the breakout for confirmation of the move's strength.๐ฆพ
LayerZero Nets Over 800k Sybil Addresses in Self-Reporting Phase ๐ฑ
#LayerZero wrapped up its Sybil self-reporting phase, uncovering over 800,000 potentially fraudulent addresses. Initially, they flagged 2 million, but refined criteria to ensure accuracy. ๐ฆพ
These "Sybils" are fake accounts created to manipulate #airdrop distributions. While LayerZero rewarded self-reported Sybils, the remaining 800k won't receive the full token allocation. This is a big win for fair distribution in the #crypto space.
Glassnode data reveals a crucial level for #Bitcoinโฏ- $66,200! This price point saw a whopping 410,000 $BTC traded, indicating a potential area of support or resistance.
#Bitcoin bulls are back in charge! After a successful retest of support, $BTC has sprung back, hinting at a potential surge towards major resistance.๐
This positive momentum could trigger a rally across altcoins as well.๐
However, remember that the #crypto market remains volatile. While this analysis suggests a possible upswing Always #DYOR
DON'T FALL VICTIM TO CRYPTO SCAMSโ ๏ธ: Essential Tips for Safe Investing!
The #crypto space is booming, but with opportunity comes risk. Recently, there's been a surge in #scam projects aggressively promoted across various channels, duping unsuspecting investors. Here's how to safeguard yourself and make informed investment decisions:
Red Flags to Watch Out For ๐ฅ
Unrealistic Promises: If a project boasts guaranteed high returns or seems too good to be true, it probably is.
Hype and #FOMO : Beware of projects relying solely on social media hype and fear of missing out (FOMO) tactics.
Unclear or Missing Information: Always be wary of projects with limited whitepapers, anonymous teams, or a lack of transparency about their technology or purpose.
Invest Wisely with These Key Considerations:
1) Credibility and Trustworthiness: Research the team behind the project. Are they experienced and doxxed (public identities revealed)?
2) Regulatory Compliance: Check if the project operates within relevant regulations.
3) Liquidity and Market Depth: Is the #cryptocurrency easily tradable on reputable exchanges with sufficient trading volume?
4) Security Measures: How secure is the project's underlying technology? Are there independent audits to verify its robustness?
5) Transparency and Accountability: Does the project communicate openly with its community? Is there a clear roadmap for development?
REMEMBER: Don't let the allure of quick gains cloud your judgment. Prioritize safety by prioritizing projects listed on established exchanges with a proven track record. Here's how reputable exchanges can help
Strict Listing Requirements: These exchanges have robust vetting procedures to minimize the risk of fraudulent projects.
Enhanced Security Measures: They implement advanced security protocols to safeguard user funds and assets.
Transparency and Compliance: Reputable exchanges operate within regulatory frameworks, fostering trust and accountability.
By following these steps, you'll be well-equipped to navigate the crypto landscape ๐ช
#GameStop just announced plans to sell up to 45 million shares. This news comes after a brief surge in the stock price and disappointing Q1 sales results. Investors are wary - could this dilution dampen the stock's potentialโ
DOGECOIN EYES $0.20 ๐! Breakout Retest in Play๐
#Dogecoin (DOGE) is no stranger to volatility, and it's at a key point right now. After breaking above a key resistance level, $DOGE retraced slightly but is now retesting that zone.
If the bulls can hold, a climb to $0.2040 is on the table, with a potential further push to $0.2280. However, support sits below at $0.1120-$0.1230.
#BNB POISED FOR BREAKOUT? Ascending Triangle Emerges ๐ฑ
BNB is forming a #bullish ascending triangle pattern, hinting at a potential price surge!๐ This pattern typically breaks upwards, and with $BNB currently trading within it.
We could see a move towards the major resistance zone of $620-$635. A clean break above this area could ignite a new rally for BNB. ๐
BITCOIN Bounces Back at Support: Will the BULLS CHARGE? ๐
#Bitcoin (BTC) faced a retest at a key support level, but held firm! This resilience could indicate a potential uptrend.
The fact that $BTC found support suggests underlying strength, and a continuation of the upward movement towards the major resistance zone of $69,000-$70,000 isn't out of the question.
The current price action suggests caution For #TAO . Stuck in a downtrend channel, a recent rejection from resistance hints at a potential retest of support. This creates a wait-and-see situation for entry opportunities for $TAO . Keep an eye on the key zones:
Support: $330-$340 Resistance: $395-$405
A bounce off support could signal a trend reversal๐, while a break below could indicate further downside.
Rising #stablecoin inflows indicate a potential surge in liquidity entering the cryptocurrency market. This influx of cash can impact #BITCOIN supply and demand balance, potentially leading to increased price volatility.
Buckle up for a potentially bumpy ride! ๐ ๐ข
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