• Transaction fees on the Ethereum network declined by 3.66% over the previous week.
• The Open Interest (OI) for ETH increased in preparation for the Shanghai hard fork scheduled for April 12th.
• Staking activity on the Ethereum network saw steady growth, with total validators reaching 564,951 and new value staked increasing.

Ethereum [ETH] Price Increase & Shanghai Hard Fork Upgrade

The price of Ethereum (ETH) has seen a 3.36% increase in the 24-hour period to $1813.97, as per CoinMarketCap, along with an 11% increase on a month-to-date (MTD) basis fueled by a broader crypto market recovery. This rise in prices made investors‘ holdings profitable and reached its second consecutive 11-month high as per Glassnode data.

Transaction Fees & Open Interest

Earnings from transaction fees on the network declined by 3.66% over the previous week, however this was offset by an increase in Open Interest (OI). In preparation for the upcoming Shanghai hard fork which is scheduled to go live on 12 April, Ethereum [ETH] developers have asked all network validators to upgrade their nodes and execute one final mainnet shadow fork a week before launch.

Staking Activity

Despite a dip in participation rates due to validator nodes not upgrading during Goerli’s last testnet launch of Shapella, staking activity on the Ethereum network saw steady growth as per data revealed by Glassnode with total number of validators reaching 564,951 and an increase of 5%. However there was decline in new players entering the ecosystem and new value staked growth which might be attributed to lower revenue collected by validators according to Staking Rewards data.

All Core Developers Consensus Call

During All Core Developers Consensus Call updates were given about latest releases after which Alex Stokes asked all stakeholders to follow relevant distribution channels before taking next steps regarding launch of Shanghai Upgrade.

Conclusion

The successful launches of Shapella upgrade on various test networks along with rising ETH prices are positive indicators for Ethereum ahead of its much anticipated Shanghai hard fork scheduled for April 12th 2021

• Binance Coin [BNB] has seen a 20.5% surge within four days, with the daily market structure turning bullish.
• Positive confluence of support is found at $292, and the POC lies at $304.2.
• Spot CVD has surged past February highs in response to demand and long positions are dominant in the market.

Bullish Market Structure for Binance Coin [BNB]

Binance Coin [BNB] reacted extremely positively over the past two days of trading. The bullish euphoria over Bitcoin’s gains translated across the crypto-market and BNB gained by 20.5% within four days. A retracement before a sustained move higher up the charts remains possible too.

Daily Technical Analysis

On the daily timeframe, the market structure for Binance Coin seemed to be bullish once more. The recent lower high at $294 was beaten during the latest reversal, but the $309-mark has posed some resistance over the past 24 hours. A strong confluence of support at $292 was observed along with a set of Fibonacci retracement levels (yellow) were drawn based on the latest surge that showed 78,6% retracement level lay at $276.7 which was almost same as Value area high[VAL]. Moreover, price action from early March showed that region between 285-292 had significant support on lower timeframes . The RSI crossed over above 50 level which suggested that bullish momentum had taken root in market and OBV also recorded gains which could continue further higher.

Positive Demand & Long Positions

The funding rate had been negative over last two days but it slowly climbed above into positive territory which implied that long positions were once again dominant in market signs of possible flip in sentiment . Spot CVD has surged past February highs due to strong demand while Open Interest dipped slightly during last 48 hours . Despite this price appreciated showing weakening bulls in short term .

Conclusion

Longer term buyers can wait for retracement into 285-92 zone or risk averse traders can look for positive reaction for three days before buying & trading with trend .

Disclaimer

The information presented does not constitute financial , investment , trading or other types of advice and is solely writer’s opinion

• Shiba Inu has announced the launch of its Shibarium public beta platform this week.
• This platform will provide various benefits such as faster and cheaper transactions, increased scalability, and enhanced security.
• The release of Shibarium is expected to increase SHIB adoption, spawn a new ecosystem of custom tokens, and help reduce the massive supply of SHIB tokens.

Shiba Inu Announces Launch Of Shibarium Public Beta Platform

Shiba Inu has announced that the Shibarium public beta platform will be launched this week. This Layer-2 solution aims to provide the SHIB community with several benefits such as faster and cheaper transactions, increased scalability, and enhanced security. The team has cautioned users to be wary of scammers who may attempt to take advantage of the public beta’s launch.

Key Features Driving Adoption

The Shibarium platform consists of three key features driving adoption: Shiba Inu wallet, community-driven ecosystem, and SHIB-related marketplace. The wallet will enable users to store their funds securely while the community-driven ecosystem will allow developers to create fast, low-cost, and highly scalable applications. It is also expected to spawn a new ecosystem of custom tokens that can be traded for gas using Bone ShibaSwap (BONE).

Impact On Price Of BONE Token

The impending launch contributed to a significant hike in the price of BONE token which was trading at $1.72 at press time following a hike of 11% over the last 24 hours. Moreover, with virtual land plots available on Shiba Inu Metaverse users with be able to rename them for a fee paid in Shiba Inu tokens which will be burned to help reduce the massive supply.

Increased Transaction Speeds & Reduced Gas Costs

In addition to increasing SHIB adoption, Shibarium is also expected to significantly increase transaction speeds and reduce gas costs within its own network. Lead developer Shytoshi Kusama stated that “It’ll allow us to grow Shibarium’s reach with professional companies” when speaking about what impact it would have on existing relationships between businesses connected with it in past months before its release.“

Conclusion

Overall, this project looks very promising for both developers looking for an efficient way build their applications as well as investors hoping for an increase in SHIB adoption through increased use cases such as renaming virtual land plots on Shiba Inu Metaverse or trading custom tokens within its own network which should both result in further price appreciation of BONE token due reduced supply caused by burning system implemented by developers behind this protocol layer solution.

• Binance Coin [BNB] fell beneath the $305 mark at the time of writing and had a short-term bearish bias.
• Bitcoin [BTC] oscillated from $23.1k to $23.9k on Monday, marking these as near-term support and resistance levels.
• Hidden divergences showed a continuation of the near-term downtrend with bearish sentiment present in the Open Interest and funding rate.

Overview

This article assesses the current market structure for Binance Coin [BNB] and Bitcoin [BTC]. It highlights that, at press time, BNB had a short-term bearish bias while BTC oscillated between two near-term support and resistance levels. Additionally, hidden divergences have indicated a continuation of the near-term downtrend with bearish sentiment present in the Open Interest and funding rate.

Analysis of BNB’s Market Structure

At 13 February, Binance Coin fell sharply onto the $287 support level. In days that followed, bulls were quick to rally pushing prices as high as $327.8 on 16 February before forming a series of lower highs which saw it fall beneath the key $305 support level – suggesting another drop was imminent beneath $300. This was further confirmed by a hidden bearish divergence (yellow) seen with its RSI which stood at 44 at press time showing neutral to weak bearish momentum; however there is an H4 bullish order block seen in the $286-$294 area should buyers seek favorable conditions before buying into this asset again. Despite recent losses, an overall rise in A/D line has shown steady buying pressure so far suggesting there may be scope for bullish reversal in days ahead.

Bearish Sentiment Present

Open Interest has declined alongside prices denoting long positions are discouraged – this is further evidenced by its negative funding rate which suggests sellers are dominant currently – yet spot CVD shows buying volume indicating further losses before reversal could still be likely.

Conclusion

Overall current market structure appears bearish for both assets but buyers remain active as demonstrated by rising A/D line and spot CVD figures – traders must exercise patience and caution when considering entry points waiting for favorable reaction from key zones such as H4 bullish order block or near term supports or resistances before opening new positions whilst those looking to close out existing ones can seek profits around such zones too

• The Financial Stability Board (FSB) has announced plans to finalize its recommendations for regulating crypto and stablecoins by July this year.
• Many existing stablecoins would fail to meet international standards set by payments or securities standard setters, according to the FSB Chair Klaas Knot.
• The FSB is collaborating with other standard-setting bodies to determine how decentralized finance (DeFi) should be regulated.

FSB Plans Finalizing Recommendations for Crypto Regulation by July

The Financial Stability Board (FSB), a financial regulator funded by the Bank for International Settlements (BIS), plans to finalize its recommendations for regulating crypto and stablecoins by July this year. In a letter to G20 finance ministers and central bank governors, FSB Chair Klaas Knot stated that the upcoming guidance of the Board will focus on strengthening stablecoin governance frameworks, redemption rights, and stabilization mechanisms.

Many Existing Stablecoins Would Fail to Meet Standards Set by Payments and Securities Standard Setters

Knot added in his letter that many existing stablecoins would also fail to meet international standards set by payments or securities standard setters. Regulators around the world have taken steps to oversee payments-focused stablecoins, which are mostly backed by fiat currency reserves. Despite efforts of those issuing stablecoins made in order to reduce private debt and improve transparency, Knot’s note suggests that these measures may not be sufficient.

Increased Efforts of Oversight Following Numerous Company Failures Last Year

Following numerous company failures last year such as those of blockchain protocol Terra and crypto exchange FTX, regulators around the world have increased efforts in overseeing the sector. In February last year, the FSB warned that crypto risks to financial stability could rapidly escalate.

FSB Collaborating with Other Standard-Setting Bodies on DeFi Regulation

The FSB announced recently that it will work with other standard-setting bodies in order to determine how decentralized finance (DeFi) should be regulated. A report was released on the financial stability risks of DeFi which highlighted its vulnerabilities and transmission channels as well as noting that actual degree of decentralization in DeFi systems often deviates significantly from what is stated by founders.

Conclusion

The FSB is taking major steps towards regulating cryptocurrencies and digital assets through collaboration with other regulatory bodies while also providing insight into potential risks associated with decentralized finance systems such as those encountered during company failures last year. Its recommended guidelines are expected soon which may give much needed clarity into how these assets can be safely used while protecting consumer interests at large scale worldwide

• GRT entered a price consolidation phase over the weekend with bulls finding steady support at $0.1475.
• The Graph [GRT] saw bullish order blocks and trends on the lower and higher timeframe charts.
• Short-term bulls could look for gains at the 50% Fib level of $0.1790, while short-term sellers could book profits at $0.1509 (23.6% Fib level).

Overview of The Graph’s [GRT] Price Movement

The Graph [GRT] entered a price consolidation phase over the weekend after experiencing an 80% hike from $0.1258 to $0.2323 within a week. Bulls found steady support at $0.1475, which was also a bullish order block on the 12-hour timeframe chart and gave them an impetus to book profits on the overhead resistances.

Bullish Order Blocks & Trends

On both lower and higher timeframe charts, GRT displayed bullish order blocks and trends at press time as the RSI was at 53 despite the recent sideways movement indicating a bullish structure, and OBV (On Balance Volume) hiked slightly as well. Near-term bulls could look for gains at the 50% Fib level of $0.1790 after buying GRT just above $0.17 (38.2% Fib level), while cautious bulls could wait for a retest of the 38.2% Fib level before making moves; conversely, short-term sellers could book profits at $0.1509 (23.6% Fib level) if GRT breaks below $0.1590 as well..

Accumulation Trend Analysis

In addition to its bullish structure on lower and higher timeframe charts, GRT also registered spikes in supply out of exchanges and exchange outflow indicating accounts were accumulating the asset; moreover, its demand stayed stagnant during this period as indicated by its Funding Rate since 8 February which correlated with GRTs price consolidation between $0

• The Graph experienced significant ecosystem growth in Q4 2022, according to a report from Messari titled “State of The Graph Q4 2022.”
• Participants on the network, including Indexers, Curators, and Delegators all increased within the three-month period under review.
• GRT’s price might be due for a reversal with a bearish divergence spotted on the daily chart.

The Graph Experiences Ecosystem Growth In Q4 2022

According to a recent report from Messari titled „State of The Graph Q4 2022,“ the open-source and decentralized indexing protocol for blockchain data The Graph experienced growth in key ecosystem metrics during the fourth quarter of 2022. The Graph is an open-source, decentralized protocol for collecting, processing, and storing data from blockchain applications for easy information retrieval. Deployed on the Ethereum blockchain, it helps developers to increase the efficiency of their decentralized applications (dApps) by using relevant data. The Graph analyzes and stores blockchain data in indices called Subgraphs which allows quick responses to queries sent to its protocol.

Growth Of Active Subgraphs On Mainnet

As of December 2022, there were 618 active subgraphs on the mainnet – representing a 25% increase from the previous quarter and 151% increase from the previous year. According to Messari, this growth is expected to continue over time as more people use and build upon it.

Participants On Network Increase

The ecosystem comprises Indexers who operate graph nodes to process and store on-chain data; Curators who signal which subgraphs are worth indexing; and Delegators who may lack technical know-how or resources to index but can delegate GRT tokens towards Indexers instead. As of December 2022, curators were signaling over 26 million GRT towards active subgraphs while query fees are further distributed among Delegators and Curators as rewards for their efforts on network. During Q4 2022 alone there was an 33% increase in Indexers while Curator count went up by 2%. Delegator number rose by 9% during same period too.

GRT Price Reversal Anticipated

GRT’s price might be due for a reversal with a bearish divergence spotted on its daily chart according to analysts predictions with realiable sources proving correct at times too..

Realistic Prospective Of GRT Market Cap

A second look reveals that ETH terms reflect realistic prospective regarding GRT market cap although no one knows what results lies ahead as markets can sometimes surprise us unexpectedly!

• Decentraland’s [MANA] price has rallied by over 8% in the past seven days due to the increased adoption of the token and the launch of various partnerships in the metaverse and NFT domain.
• According to CoinMarketCap, MANA is currently trading at $0.7781 with a market capitalization of more than $1.44 billion.
• Decentraland recently premiered the Domino’s Originals: DjMaRiiO documentary and announced its new musical metaverse mixer on Decentraland Metaverse.

Decentraland’s [MANA] token has been making headlines in the crypto space recently, as its price has been rallying over the last seven days. This surge has been fueled by the increased adoption of the token, as well as the launch of various partnerships in the metaverse and NFT domain.

CoinMarketCap data shows that MANA is currently trading at $0.7781 with a market capitalization of more than $1.44 billion. This represents an increase of over 8% in the token’s price over the last seven days.

The increased adoption of Decentraland’s token is the driving force behind this price surge. The company has recently announced various partnerships in the metaverse and NFT domain, which have been positively received by investors and enthusiasts.

For instance, Decentraland recently premiered the Domino’s Originals: DjMaRiiO documentary and announced its new musical metaverse mixer on Decentraland Metaverse. This new mixer will give participants the chance to win custom gaming PCs, limited edition Doritos wearables, and more.

The increased attention and adoption of Decentraland has also been reflected in the data from Polygon Daily. According to their latest report, Decentraland was the second most-mentioned Polygon project on Twitter in the last seven days.

CryptoQuant’s data also showed that the exchange outflow for Decentraland has spiked recently, indicating that the token is being actively traded on various exchanges. This, along with the other metrics, suggests that the token will continue to perform well in the coming weeks.

Overall, the recent developments in the Decentraland space are positive news for investors and enthusiasts alike. The increased adoption of the token and the launch of various new initiatives are helping to drive the price of MANA higher. As such, it will be interesting to see how Decentraland continues to perform in the coming weeks.

• Litecoin (LTC) has outperformed many top coins in the last few months, including Bitcoin (BTC) on key metrics.
• The number of Litecoin addresses has grown steadily in the last 12 months despite a rough bear market.
• Investors are more likely to flock towards a coin perceived as undervalued and one that has more potential gains ahead.

The crypto market has been extremely volatile over the past 12 months, with many coins struggling to maintain their value. However, one coin that has managed to outperform the competition is Litecoin (LTC). Over the past few months, Litecoin has seen impressive growth, outpacing Bitcoin (BTC) on key metrics.

This growth has been largely driven by strong address growth. Despite a volatile market, the total number of Litecoin addresses has steadily grown over the past 12 months, reaching 171,530,374 by 24 January. This means roughly 51 million addresses were created during this 12-month period. Comparatively, Bitcoin added a little over 88 million new addresses in the same period.

The impressive growth of Litecoin has been supported by large investors, or “whales”, who have been buying up large amounts of the coin. This has helped to reduce sell pressure and support the coin’s price. As a result, Litecoin has managed to rally by 146% from its 2022 lows to recent levels, while Bitcoin has only managed to rally by roughly 49%.

The strong growth in Litecoin has also been bolstered by its relatively undervalued status. Despite its impressive gains, the coin is still trading under $100, giving investors the opportunity to capitalize on potential gains. This has made Litecoin a popular choice for investors looking for a coin with a higher potential for growth.

Overall, the impressive growth of Litecoin has been driven by strong address growth and support from whales. This has enabled the coin to outperform many of its peers and remain relatively undervalued, making it an attractive option for investors looking for potential gains.

1. Ethereum (ETH) recently dropped below its $1,600 mark after Bitcoin (BTC) lost the $23k zone.
2. ETH is currently stuck in the $1,540 – $1,560 range and could fluctuate in this range for the short-term.
3. A move to the $1,700 zone could be possible if BTC moves beyond $23K, especially if the FOMC announcement next week triggers the markets positively.

The cryptocurrency market is always in flux, and Ethereum (ETH) is no exception. Recently, ETH dropped below its $1,600 mark after Bitcoin (BTC) lost the $23k zone. This drop occurred on 24 January, with BTC sharply declining to below $22.5k, pulling down ETH to $1,518. As of press time, ETH is struggling to break above the $1,560 mark, while BTC is hovering below the $22,800 level.

The short-term outlook for ETH is not looking too positive, as BTC’s loss of traction and velocity could force ETH into a short-term range before bulls attempt to target the green zone. On the 12-hour chart, ETH’s Relative Strength Index (RSI) and On-Balance Volume (OBV) are both declining, showing that the altcoin is in a mild bullish momentum and close to a neutral market structure. This could mean that ETH could fluctuate in the $1,540 – $1,560 range in the short term before attempting a retest of the $1,600 zone in the next couple of days/weeks.

However, there is a potential for ETH to move to the $1,700 zone if BTC moves beyond $23K. This could happen if the markets are positively triggered by the FOMC announcement next week. But overall, ETH’s weak fundamentals could delay any immediate price reversal and short-term Ethereum holders‘ profits could be cut to size. Therefore, investors should be watchful of the market movements and tread carefully when making any decisions.