Lack of bullish momentum. When volatility will return to Bitcoin

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Lack of bullish momentum

Our experts have told us what events. And market factors could lead to the beginning of a more noticeable change in the price of Bitcoin

Bitcoin (BTC) exchange rate has been in the range of $29-31 thousand since the end of June. And in case of short-term price changes, it quickly returns to its previous values.

According to Glassnode, a huge number of Bitcoins changed hands in the range of $30,400 to $31,100. Due to this, the Bitcoin price has formed strong resistance levels that will not be broken without significant fundamental triggers in the next few days.

The current period of consolidation of the cryptocurrency price is primarily due to the market’s expectation regarding the denouement of the Bitcoin-ETF story. And uncertainty about the US Federal Reserve policy and interest rates.

On the one hand, based on the 30-day federal funds rate data, there is a 99.8 percent probability of a rate hike. And what is traditionally a bearish signal for the market. On the other hand, analysts are expecting very soft rhetoric from Jerome Powell regarding further rate hikes. And there is a probability that he will announce the current rate hike as the last one in this cycle. In that case, we can expect a bull rally for Bitcoin as well as other cryptocurrencies.

Also, anytime before August 12, we may get news on the SEC’s decision on Bitcoin-ETF applications by BlackRock and other investment funds. If the applications are approved, Bitcoin could “fly” to $35-40k. But if they are rejected or returned for revision, the price will most likely return to the $27-28k levels.

BTC exchange rate seems to have frozen up

The main reason Bitcoin is stagnating is the lack of bullish momentum. To overcome the $32.5k mark and consolidate above it. Now Bitcoin lacks the inflow of institutional money. And this inflow is hindered by the lack of clear and precise regulation.

Bitcoin’s noticeable growth stopped at the end of June. And since then, the main cryptocurrency has been hovering around $30 thousand for a whole month. This was the case until recently, when several notable events occurred in the crypto market. First, Ripple won a partial victory in court against the SEC. Second, there was the collapse of the dollar in the global currency market. All this, of course, affected the growth of interest in Bitcoin.

Today it continues to trade at the same level, but in the near future it will begin a steady, albeit small growth. Some analysts make predictions based on the 200-day moving average indicator (MACD). And they forecast its reaching the value of $32 th. at the moment of halving. Our experts think that this is quite a balanced position. And it is unlikely that by the halving the indicator will exceed this value by more than 50%. At this point, our experts see a price opportunity between $40k and $50k (most likely $47k).

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No, DCA is not a guaranteed way to earn profit.

The mantra on this subreddit is 'DCA is a viable strategy to guarantee profit'. I would argue from a risk analysis point of view, this is plain misleading and has the potential to lead new crypto investors down the wrong path.

Firstly what you DCA into is more important that simply DCAing. For example, if you DCA into Bitcoin long term over let's say safemoon (just to use an extreme example) the person DCAing into Bitcoin is likely to come out better long term over safemoon. I am not suggesting bitcoin is the guaranteed performer long term but simply making the point what you DCA into is more important than blindly implementing the strategy.

Secondly even if you do your research and commit to a DCA strategy, you are still subject to a huge amount of risk. Crypto is a highly volatile asset. You only need to compare the 2020/2021 bull run to Now to see just how much crypto can flip so rapidly. There are still so many risks in crypto, government regulation, unforseen black swan events like exchanges collapsing, inflation. Let's just say you DCA for 5 years into Bitcoin. At the end of the 5 years Bitcoin is worth significantly less than your lowest of DCA averages. Let's say bitcoin continues to decline and never recovers. You have spent 5 years investing in an asset that is depreciated and now you are faced with the decision to be trapped investing in bitcoin or covering your losses. Arguably in this scenario you were better simply putting your money in a bank.

I understand there are alot of variables, but the bottom line is in my opinion, DCA is not immune from the broader risk of investing in crypto. I would say consider your options carefully before blindly following the mantra of DCA on this subreddit.

PERCS Ultimate Crypto Grants List: Everything you need to know

Discover Crypto Grant Programs driving blockchain innovation and development. Get funded for your ideas and contribute to the future of blockchain

Crypto Grant Programs are essentially financial incentives offered by blockchain and cryptocurrency organizations to encourage innovation and development within their ecosystems. These grants are typically awarded to individuals or teams that propose projects which align with the company's goals and contribute to the growth and development of their platform.

The grants can be used for a variety of purposes, such as developing new features, improving existing ones, conducting research, creating educational content, or fostering community growth. The amount of funding provided can vary greatly depending on the scope of the project and the resources required.

Companies Promoting Crypto Grant Programs

As of now, numerous companies in the blockchain and cryptocurrency space are offering grant programs. Here are some of them:

1. Uniswap: Uniswap's Ecosystem Grant Program funds projects that contribute to the Uniswap protocol ecosystem and benefit the broader DeFi space.
2. Gitcoin: Gitcoin's grant program is a community-driven funding initiative that supports open-source projects in the Ethereum ecosystem.
3. Solana: The Solana Foundation Grants Program provides funding, technical support, and recruiting assistance to projects building on the Solana blockchain.
4. AngelBlock: AngelBlock provides grants up to $15,000 per project and operates as an incubator, offering assistance to web3 teams and projects.
5. Aave: Aave Grants DAO is a community-led grants program that funds ideas and projects that benefit the Aave protocol’s community.
6. MakerDAO: The MakerDAO Community grants program funds projects that help grow the Dai and MakerDAO ecosystem.
7. Ethereum: Ethereum offers a Network Grant for projects that contribute to the development and improvement of the Ethereum network.
8. Chainlink: The Chainlink grants program deploys resources toward the development of developer tools, applications, and other projects that expand the Chainlink ecosystem.
9. Filecoin: Filecoin's grant program encourages community members to contribute to the Filecoin protocol, project, and ecosystem.
10. Kraken: Kraken awards quarterly open-source developer grants for projects that contribute to the cryptocurrency ecosystem.
11. Bloom Grants: Bloom Grants are offered to projects that contribute to the growth and development of the Oasis blockchain.
12. Nervos: The Nervos Grants Program was created to empower innovation and development, and to support the growth of a diverse and thriving ecosystem.
13. Nexus Mutual: The Nexus Mutual Community Fund supports community members to bring their skills and experience to growing and developing the mutual.
14. Avalanche: Avalanche-X is Avalanche’s accelerator for developers building decentralized applications, providing funding for community work, and more.
15. Polkadot: Polkadot's grant program supports work done in the Polkadot ecosystem, including development, research, and community growth.
16. Flow: Flow's grant program supports projects that contribute to a new generation of games, apps, and the digital assets that power them.
17. 0x: The 0x Ecosystem Acceleration Program provides funding, technical support, and recruiting assistance to projects building on the 0x protocol.
18. Algorand: Algorand's grant program supports projects that contribute to building a public and permissionless infrastructure for the borderless economy.
19. Compound: Compound's grant program provides funding to projects, ideas, and events that benefit the Compound protocol and its ecosystem.
20. Mina: The Mina Project Grant program encourages community members to work on projects related to developing the Mina protocol and community.
21. Ocean DAO: OceanDAO grants funds towards teams creating positive ROI for the Ocean Ecosystem. OCEAN holders help by voting and funding projects that lead to growth.
22. OKCoin: OKCoin's grant program supports open-source development of the Bitcoin network.
23. Binance Smart Chain: Binance Smart Chain's grant program supports projects that build and accelerate on the Binance Smart Chain.
24. Consensys: ConsenSys Grants funds blockchain technology projects that meet the needs of a rapidly-accelerating Ethereum ecosystem.
25. Cardano: Cardano's Kickstarter Program supports developers and early-stage project teams contributing to the blockchain ecosystem worldwide.
26. Interchain: The Interchain Foundation provides grants, service agreements, full-time employment, and investments to projects that contribute to the Interchain ecosystem.
27. Kadena: Kadena's grant program supports projects that contribute to the development and expansion of the Kadena public blockchain.
28. Stacks: Stacks' grant program funds infrastructure development, community resources, tools, research, and education that serve the mission of a user-owned internet, powered by the Stacks Blockchain.
29. Zcash: Zcash's grant program supports development, research, and community growth that contribute to a better Zcash ecosystem.
30. Tezos: Tezos' grant program supports projects that improve the developer experience, app ecosystem, and security on the Tezos platform.
31. Audius: Audius' grant program supports projects that contribute to making Audius a music streaming and sharing platform that puts power back into the hands of content creators.
32. Harmony: Harmony's grant program supports projects that contribute to the creation and use of decentralized applications (DApps) on the Harmony platform.
33. Skale: Skale's grant program supports projects that contribute to the development and expansion of the Skale network.
34. mStable: mStable Dev Grants fund community efforts to contribute to and grow the mStable ecosystem of products, tools, and utility.
    

Stay Informed, Stay Empowered

We understand the importance of staying informed about the latest developments and opportunities in the blockchain space. By knowing about crypto grant programs, you can stay ahead of the curve and engage with projects that align with your interests or contribute to the blockchain ecosystem.

At PERCS Token Gating company, we are committed to supporting the blockchain community and empowering individuals and organizations with valuable information. As the blockchain landscape evolves, we will keep refreshing the list of blockchain companies promoting crypto grant programs to ensure you have access to the most up-to-date information.

Are you a builder or a brand and you want to get in contact with us? Please send us a message to builders@getpercs.com or through our Social Media Channels.

The Block Covers The Historic Kin Burn

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https://preview.redd.it/szn1newqjkeb1.png?width=2506&format=png&auto=webp&s=b7256ffd7e18a2e792c05701fd88a0beaccb1c48

Link to article:

https://www.theblock.co/post/241582/proposal-to-burn-large-part-of-kin-supply-closes-with-full-support?utm_source=rss&utm_medium=rss

🌩️ The amount of Bitcoin on the Lightning Network is the lowest in almost a year — the number of channels in the Layer 2 payment network has also shown a constant decline overtime

🌩️ The amount of Bitcoin on the Lightning Network is the lowest in almost a year

The number of channels in the Layer 2 payment network has also shown a constant decline overtime

\originally posted in Portuguese-BR on* Portal do Bitcoin (by myself).

The Lightning Network (LN) recorded a liquid capacity of less than 5,000 BTC on Monday (24). It's the first time this happened since September 2022. The number of channels on the network has also been showing a steady drop since February of this year. Data is from Amboss Space.

As of today (27), there are 4,834.64 BTC available to be moved between 74,157 channels on the Lightning Network, controlled by 17,995 nodes.

These nodes are operated by businesses, services, users, and enthusiasts of the payment network that offers faster and cheaper transactions than Bitcoin's first layer.

Unlike the main network, whose transactions take place on the blockchain: transferring ownership of coins from one wallet to another, under miner's validation. The Lightning Network operates via bilateral channels opened by node operators + network users and requires prior liquidity to be used.

It is necessary to deposit Bitcoin in a joint (multi-sig) wallet (opening or replenishing a channel) with the other peer that a user wants to transact with. Another form of use is through intermediate channels as an access route to a recipient without a direct path (channel).

The entire process requires prior liquid capacity before changing the BTC balances of each Lightning account. For each 'hop' a payment makes in each routing node (middle-men), more total capacity is needed.

If users want to confirm the transaction on the Bitcoin blockchain, or send it to a private wallet (which is not shared with another node). It is necessary to close the previously opened channel, withdrawing liquidity (or capacity) from the LN.

The lack of liquidity, or available transaction routes, can lead to the failure of payments. As reported by multiple users in time.

Operators are leaving the Lightning Network

Over the past few days, a massive Bitcoin breakout from the Lightning Network has been observed. After registering 5,619.3 BTC on July 08, there was an aggressive drop to 5,035.6 BTC just four days later (July 12) — a loss of 10% of total capacity.

https://preview.redd.it/cdurzzmepheb1.png?width=1774&format=png&auto=webp&s=3c3973cbdecff506fcad423951ed478e7db2a554

The liquidity loss occurred a few days after LN capacity reached historic highs.

Although the net capacity drop in BTC is recent, the Layer 2 network has already seen the number of open channels consistently decreasing for months.

After surpassing the maximum with more than 84,000 channels opened in the second half of 2022, closures have been constant so far, with the Lightning Network having lost more than 10,000 payment channels in the period.

https://preview.redd.it/2o3lf3pgpheb1.png?width=1774&format=png&auto=webp&s=74ab5324c4b8c257d485d30a31dd406719162a9c

Lightning Network exit events occur concurrently with Binance entering the BTC-L2 ecosystem; which integrated LN into its services on July 17th.

In this same period, Bitcoin also had the lowest average transaction fees on the mainnet since the May high — which recorded an average fee of $31 for each 'spending' made on the leading blockchain, according to BitInfoCharts.

https://preview.redd.it/evtoyqqppheb1.png?width=2522&format=png&auto=webp&s=d9b9dc8d6a68d8924969e77ca266064701b896f9

When considering that openings and closings of channels in the LN charge fees for Bitcoin miners, the decrease in capacity and number of channels along with a decrease in fees could indicate that operators are taking advantage of the low cost/barrier to leave the second layer.

At the moment, public data from the Binance node reveals that the largest cryptocurrency exchange has only 340 BTC available in six Lightning channels.

Astral — A Secure, Convenient, and Innovative Cryptocurrency Trading Platform

“Cryptocurrency has revolutionized the financial world, providing individuals with new opportunities for investment and wealth accumulation. In this rapidly evolving environment, Astral has been committed to providing global users with a secure, convenient, and innovative trading experience.”

At Astral, compliance with global standards and regulatory requirements is a top priority. The platform diligently adheres to anti-money laundering (AML) and know your customer (KYC) policies, ensuring the legality and transparency of user transactions. By actively cooperating with regulatory agencies, Astral maintains a safe environment for users and fosters trust within the cryptocurrency community.

To safeguard user assets, Astral employs robust security measures. With the utilization of cold storage wallets, two-factor authentication, and real-time risk control systems, the platform provides users with peace of mind regarding the safety and reliability of their digital assets. Furthermore, Astral collaborates with renowned security institutions to offer top-level security protection, ensuring the highest standards of data privacy and protection.

Astral understands the importance of prompt assistance and resolutions for users. That’s why they offer 24/7 customer support through multiple channels, including online chat and email. Whether you have trading inquiries, account security concerns, or any other needs, the dedicated customer service team is always available to provide timely assistance, ensuring a smooth trading experience for all users.

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Astral boasts a diverse range of trading products, catering to various investment needs. From mainstream cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) to innovative tokens, users can choose the trading instruments that align with their preferences and strategies. This extensive selection ensures that every user can find suitable investment options within the Astral platform.

Astral goes beyond traditional trading options by offering stablecoin trading as a unique feature. This allows users to participate in low-volatility asset trading, providing a more stable investment option regardless of market conditions. With stablecoins, users can effectively manage their assets and mitigate the risks associated with market volatility.

The user interface at Astral is designed with simplicity and user-friendliness in mind. Novice users will find it intuitive and easy to navigate, while experienced traders can take advantage of advanced tools and features available in the advanced trading interface. Astral caters to users of all skill levels, ensuring that everyone can make the most of their trading experience.

Astral’s commitment to user satisfaction is evident through continuous optimization of the platform’s user experience. The exchange takes user feedback and concerns seriously, promptly addressing any issues that arise. Astral ensures a seamless and hassle-free trading environment, offering prompt support and efficient issue resolution throughout the trading process.

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In conclusion, Astral is your gateway to secure, convenient, and innovative cryptocurrency trading. With its adherence to global compliance standards, robust security measures, round-the-clock customer support, multilingual news updates, diverse tradingproducts, stablecoin trading, user-friendly interface, user experience optimization, varied activities, social and community interaction, and ongoing development of unique features, Astral offers a distinct trading experience tailored to your individual preferences and investment goals. Join Astral today and embark on a journey of secure and rewarding cryptocurrency trading.