$MATIC $MATIC is the coin that beautifully navigated the bearish period as a structure. A regular Price Action has occurred. The loss of the red line triggers the blue box. The blue box is suitable for bounce trading, but obtaining confirmation in LTF (Lower Time Frame) and building long positions targeting the purple line after the red line would be healthier. If it reaches the purple line without losing the red one in the short term, the target for my purchases from the blue box will form a new high due to diagonal liquidity.
-In the early morning hours, there were significant inflows of stablecoins into the #binance exchange.
-As Binance is a derivative exchange, these stablecoins can be used in long or short trades, as you may know.
-Noteworthy increase after a long time. After reviewing historical metrics, observed fluctuations include a $1,500 drop and a subsequent $3,000 rise on July 31, 2023.
-On July 26, 2023, relatively stable with a $500 drop followed by recovery.
-June 8-13, 2023: Price briefly dropped from $27,000 to $24,500, then steadily rose to $31,500.
-March 28, 2023: Increased from $26,500 to $29,300.
-February 12, 2023: Dropped from $22,000 to $21,300, then rose to $25,300.
-December 9-19, 2022: After reaching $17, initially dropped to $18,300, then to $16, before rising around New Year's.
-November 8, 2022: Entered exchanges at $20,300, quickly dropped to $15,500 within 2 days.
🌠 As you can see, the metrics are volatile, with a notable %13 drop from $23,000 to $20,000 and another %13 drop from $41,000 to $35,700.
-In essence, experiencing double the volatility of the $20,000 range is what we can anticipate.
$ETH What is Cancun Update The Ethereum Cancun Upgrade aims to make Ethereum faster and more secure. It introduces new technologies like proto-danksharding to handle data better. Key improvements include faster transactions, lower costs, and safer data management. However, there are risks, such as potential impacts on existing contracts. The upgrade is expected in the first half of 2024.
$BTC $ETH $BNB More than 50% of cryptocurrencies have failed. Out of over 24,000 cryptocurrencies listed on CoinGecko since 2014, 14,039 have ceased to exist. The majority of withdrawn cryptocurrencies originated from projects launched during the 2020-2021 bull run. Approximately 53.6% of all dead cryptocurrencies on CoinGecko resulted from projects introduced during that period.
During the 2020-2021 period, 7,530 cryptocurrencies disappeared, constituting around 70% of the listed projects from that time. In contrast, during the 2017-2018 bull run, 1,450 projects initiated were later closed, resulting in a similar failure rate of around 70% among the listed 3,000-plus cryptocurrencies.
The high number of dead coins in 2020-2021 may be attributed to the ease of distributing tokens and the surge in popularity of memecoins. However, many memecoin projects are launched without a product and are abandoned shortly after.
In 2021 alone, 5,724 cryptocurrencies failed, making it the worst year for project launches. Over 70% of cryptocurrencies listed on CoinGecko in 2021 have died, marking it as the most challenging year for project launches.
The trend continues in 2022, with 3,520 out of those listed already dead, representing a ~60% failure rate. In 2023, 289 out of more than 4,000 listed cryptocurrencies on CoinGecko failed, indicating a less than 10% failure rate, a sharp decline compared to previous years.