Bitcoin STH SOPR Breaks Above 1 For First Time Since December
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On-chain data shows the Bitcoin short-term holder SOPR has broken above one for the first time since December 2021.
Bitcoin Short-Term Holders Return To Profit Once Again
As pointed out by an analyst in a CryptoQuant post, the BTC STH SOPR has once more broken past the “one” barrier.
The “Spent Output Profit Ratio” (or SOPR in short) is a Bitcoin indicator that tells us whether coins selling right now are selling at a profit or a loss.
The metric works by looking at the price history of each coin being sold on the chain to see what price it last moved at.
If the last price was less than the current one, then the coin has been sold at a profit. Similarly, a loss is when the current price is lesser.
When the value of the Bitcoin SOPR is less than one, it means investors are, on an average, selling at a loss at the moment. On the other hand, ratio values above one imply that the overall market is realizing a profit currently.
Related Reading | Can The 600-Day MA Support Line Push Bitcoin Again?
A modified version of the indicator shows the profit ratio for only those coins that were held for less than 155 days before being sold.
Such coins belong to a cohort of investors called the “short-term holders.” The below chart shows the trend in the Bitcoin STH SOPR (30DMA) over the past year:
The indicator seems to have just crossed over the "one" mark recently | Source: CryptoQuant
As you can see in the above graph, the Bitcoin STH SOPR has broken above one once again over the last few days. This is the first time that short-term holders have been selling at a profit since December of last year.
The significance of the SOPR equal to 1 line is that it acts as a break-even point. The mark has acted as support for the price of the crypto in the past.
Related Reading | Bitcoin Mimics Textbook Market Sentiment Cycle, What Happens When Confidence Returns?
But also, because of it being a break-even point, it has also acted as resistance before. Reaching the mark psychologically feels like getting their money “back” to investors who were in loss previously so they tend to sell around this mark, hence leading to it becoming resistance.
Just a month or ago the metric retested the level, but it failed and rebounded back down. It remains to be seen now whether this time the Bitcoin STH SOPR will hold above one or not.
BTC Price
At the time of writing, Bitcoin’s price trades around $41.2k, down 5% in the past week.
North Korean Lazarus Group allegedly behind Ronin Bridge hack
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The United States Treasury Department Office of Foreign Assets Control Specially Designated Nationals and Blocked Persons (SDN) list was updated Thursday to reflect the possibility that North Korean cyber-criminal Lazarus Group was behind last month’s hack of the Ronin Bridge, in which over 173,600 Ether (ETH) and 25.5 million USD Coin (USDC) was taken, Chainalysis announced by Twitter. The information was also confirmed by Ronin.
ECB to Cease Bond Purchases in Q3, Lagarde Says EU’s Economic Rebound ‘Crucially Depends on How the Conflict Evolves’ – Economics Bitcoin News
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After the inflation rate in the eurozone reached a high of 7.5% in March, the European Central Bank (ECB) and the bank’s president Christine Lagarde explained on Thursday the central bank’s bond purchases will cease in Q3. Reiterating what she said at a press conference in Cyprus two weeks ago, Lagarde stressed on Thursday that inflation “will remain high over the coming months.”
European Central Bank Plans to End Asset Purchase Program in Q3
The eurozone is suffering from significant inflationary pressures as rising consumer prices are ravaging European Union (EU) residents. In March, data from the ECB had shown consumer prices skyrocketed to 7.5% and the ECB’s president Christine Lagarde expected energy prices to “stay higher for longer.” On April 14, members of the ECB met and then told the press that the central bank plans to cease its APP (asset purchase program) by the third quarter.
“At today’s meeting the Governing Council judged that the incoming data since its last meeting reinforce its expectation that net asset purchases under the APP should be concluded in the third quarter,” the ECB disclosed to the press. After the APP ends, the bank is expected to start hiking the benchmark bank rate. However, in Lagarde’s opinion, it will depend on what happens with the current Ukraine-Russia war.
The EU’s economic improvement, Largade said “will crucially depend on how the conflict evolves, on the impact of current sanctions, and on possible further measures.” The central bank’s message on Thursday highlighted that benchmark bank rates won’t change until end of the APP. “Any adjustments to the key ECB interest rates will take place some time after the end of the Governing Council’s net purchases under the APP and will be gradual,” the ECB detailed in a statement.
Fidelity International Global Macroeconomist: ECB Faces a ‘Tough Policy Trade-off’
Following the ECB’s and Largade’s statements, the gold bug and economist Peter Schiff threw in his two cents on Twitter about the central bank keeping rates suppressed. “The ECB announced interest rates will stay at zero until it judges inflation will stabilize at 2% over the medium term,” Schiff tweeted. “Eurozone inflation is currently 7.5%. How will throwing more gasoline on a fire put it out? Europeans are stuck with inflation well above 2% indefinitely.” Schiff continued:
The dollar is rising against the euro because the Fed is still pretending it will fight inflation, while the ECB is still pretending inflation is transitory. Once both banks stop pretending the dollar will fall against the euro, but both currencies will collapse against gold.
Speaking with CNBC on Thursday, global macroeconomist at Fidelity International, Anna Stupnytska, said the European Central Bank faces a “tough policy trade-off.” “On the one hand, it is clear that the current policy stance in Europe, with interest rates still in the negative territory and the balance sheet still growing, is too easy for the high level of inflation which is becoming broader and more entrenched,” Stupnytska remarked after the ECB’s statements. The Fidelity International economist added:
On the other hand, however, the Euro area is facing a huge growth shock, simultaneously driven by both the war in Ukraine and China’s activity hit due to zero-COVID policy. High frequency data already point to a sharp hit to Euro area activity in March-April, with consumer-related indicators worryingly weak.
Tags in this story
7.5%, 7.5% inflation, Anna Stupnytska, App, Asset Purchase Program, Bond Purchases, Central Bank, Christine Lagarde, Covid, Dollar, ECB, ECB bond purchases, ECB’s president, EU, EU Inflation, Euro, European Central Bank, European Union, Fed, Fidelity International, global macroeconomist, gold, inflation, Inflation in Europe, Inflation in the EU, interest rates, Peter Schiff, rate hikes
What do you think about the ECB explaining that bond purchases will end in Q3 and the discussion concerning raising the benchmark bank rate? Let us know what you think about this subject in the comments section below.
Jamie Redman
Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about the disruptive protocols emerging today.
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Uniswap Launches Product In The Midst Of Lawsuit, UNI Reacts Bearish
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Uniswap’s governance token UNI has been trending to the downside following the general sentiment in the market. The token records a 2% loss during the last day as two major events take UNI holders’ attention and could suggest more downside price action for the short term.
Related Reading | Uniswap Registers Yearly Low: Vital Trading Levels To Follow
At the of writing, UNI trades at $9.4 with a 6% loss in the past 7-days.
UNI is trending to the downside in the 4-hour chart. Source: UNIUSDT Tradingview
Yesterday, news broke about a class action lawsuit against this decentralized exchange (DEX) developer Uniswap Labs, its inventor Hayden Adams, and other major investors in the project. Filed as a class action in the Southern District of New York with Nessa Risley representing the plaintiffs.
These people are suing Uniswap Labs and others claiming that they have “unlawfully promoted, offer, and sold unregistered securities” on the DEX. In addition, they claim that Uniswap’s lack of a Know Your Customer (KYC) policy has enabled alleged cases of fraud without the DEX taking measures to prevent these supposed activities.
Furthermore, the plaintiff claims the DEX and the defenders have benefited from “undisclosed fees” collected on “every transaction” executed with the platform in an alleged violation of the U.S. Securities laws, according to the document. The plaintiffs also accused the platform of selling scam tokens.
These include Rocket Bunny, BoomBaby.io, Matrix Samurai, EthereumMax, and others. The plaintiffs claimed these tokens failed to file a registration with the U.S. Securities and Exchange Commission (SEC).
Uniswap is a decentralized exchange running on Ethereum and operating under a governance model controlled by UNI holders. Unlike centralized exchange it is permissionless, and its smart contracts respond to no centralized authorities for the benefit or detriment of any party.
According to the document filed with the court, Risley and the other plaintiffs were not familiar with Uniswap. At least, the document suggests they have little experience trading on the platform before incurring alleged “substantial losses” which led to their lawsuit.
Uniswap lawsuit has me rolling.
She needed consistent disclosures to figure out that “Rocket Bunny Token” and “BoomBaby” and “Matrix Samurai” were not legitimate, sensible investments.
Less than 24 hours after the class action was filed, Uniswap Labs launch a Swap Widget feature to allow users to “seamlessly swap tokens anywhere across the web”. The dApp is accessible via certain platforms, such as Open Sea and Oasis.
1/✨ Today, we’re excited to announce the launch of the Swap Widget which allows users to seamlessly swap tokens anywhere across the web 🙌
The product is part of an Uniswap expansion initiative which is aim at providing “everyone” with access to “fair, open, and transparent markets”. The Widget is supposed to be easy to integrate by developers as it would only require “one line of code”.
Related Reading | Ethereum At $3028, Where Is The Next Critical Support Level For ETH?
The Uniswap community has positively reacted to the announcement. However, the DEX’s native token has trended to the downside, likely due to its correlation with Bitcoin and other larger cryptocurrencies.
NFT for Arabian Horses to Gallop Soon at the Al Sheikh Stud in Partnership With Finvault – Press release Bitcoin News
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press release
PRESS RELEASE. UAE – DUBAI, 14 April 2022: Renowned to be a haven of thoroughbred Arabian horses, the Al Sheikh Stud embarks on a strategic journey to accommodate the growing demand for NFTs in the industry. In alliance with Atria Holdings and Finvault; the Stud farm is revving up its finest line-up of purebred Arabian Horses for the new digitized valuation.
Joining hands to create a marketplace for NFTs for Arabian horses; Finvault, a Web3 banking platform, and Atria Holdings, investors in innovative solutions; are ushering in a digital era for these high-valued horses. The strategic alliance will work closely to develop high-value NFTs for purebred Arabian horses belonging to the Al Sheikh Stud. Arabian horses, with their distinctive head shape and tall carriage are the most elite breed in the world. Apart from breeders, race enthusiasts, and discerning clientele; they reserve a special interest in the minds of artists and prestigious admirers. The NFTs are being developed to complement such unique investment opportunities in the world of Arabian horses.
Speaking about the new venture at Al Sheikh Stud, Mohamad Al Sheikh the founder of Al Sheikh Stud said; ”While the beauty of purebred Arabian horses is admired worldwide, the digital currency revolution demands an investment option of another kind. We are piloting the NFT for Arabian Horses in the region and hope that our esteemed clientele is as excited as us about this new undertaking. Apart from developing and securing the NFTs, we will also be collaborating with leading regional events to reach our valued customers.”
Poised to be the first of its kind, the NFTs are being developed to enable investors to trade in real purebred Arabian horses via digital currencies. To cater to the rise in demand for virtual investment opportunities, the NFTs will also be valued on a digital scope to be relayed further in advanced usages like simulated racing, breeding, and gaming. Finvault holds the right to reserve and limit the use of the NFTs depending on valuation and requirements.
Sharing details about the partnership, Finvault CEO, Punit Thakker said, “Finvault is delighted to be the creator in this venture with Atria Holdings as a technology partner. To create and build this NFT marketplace for Mohammad Al Sheikh’s legendary thoroughbred Arabian horses is a unique opportunity and one we are very excited about. With Dubai recently adopting its first crypto law and forming a regulatory body for virtual assets, the region is accelerating its trajectory to become the leading global virtual hub. At Finvault, we are on a mission to promote the mass adoption of blockchain around the world. We are thrilled to be part of such a high-profile project that will aid in this. The Arabian horse NFTs are just the beginning and we look forward to a long and successful partnership.”
The NFTs are likely to be launched by End of August and will be available for digital currency buyers across the globe.
About Al Sheikh Stud
Home of the legendary thoroughbred Arabian horses, the Al Sheikh stud is located in the heart of Belgium with an office in Dubai, UAE. Owned and established by Mohammed Al Sheikh in 2016, it has earned a favorable reputation for breeding and raising the elite Arabian thoroughbred. Its highly experienced and professional staff combined with world-class facilities makes for an ideal environment for breeding, foaling, weaning as well as training the horses for world championships. Some of its star performers like Equator, Serenza, and Al Gamra have held the stud’s flag flying high in the international arena of the Arabian Horse World Championship. Also it’s worth mentioning that Al Sheikh Stud’s Junior COLT, D-Mezyan won Gold at the World Arabian Horse Championship 2021. The 40th edition of the international championship which was held at the Salon de Cheval in the French capital, Paris.
About Atria Holdings
A UK-based investor firm, Atria Holdings is parent to several startups and businesses like Al Sheikh Real Estate, Al Sheikh Stud. The entity was legally formed by Mohammed Al Sheikh Suliman in 2020 to manage all businesses under one umbrella. With investments and stakes in innovative businesses across the globe, the brand is on a mission to empower innovation and walk that extra mile for ideas that inspire social impact.
About Finvault:
Finvault is a Web3 banking platform that gives individuals and businesses full control of their money and digital assets, all in one secure vault. They are bridging the gap between Traditional Finance and Decentralised Finance (DeFi) to create ‘Banking 3.0’ and draw a line between conventional banking and DeFi.
This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.
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With lots of cryptocurrency protocols in the virtual space, there’s still a need to create a balance between fiat and digital currencies. The major bridge comes on compliance and AML levels, as many people have devised their means of circumventing the necessary procedure. Wallex brings outstanding measures and is pioneering as the lead in creating stability and compliance in the world economy through digital assets.
What is Wallex?
Wallex is a technological ecosystem that offers assets and digital assets to several users to carry out their business and daily lives. It serves different individuals, businesses, exchanges, broker-dealers, fintech projects, real estate platforms, financial institutions, OTC desks, crowdfunding portals, and others. The activities of Wallex are in over 200 parts of the world, including South America, Europe, North America, Africa, Asia, etc.
The operations of Wallex cut across numerous aspects and phases of lives. Some of its services are linked to the following:
Payments
AML and Compliance
Custody
Neobanking
Trading
Tokenization
White label solutions
Decentralized investment
Wealth management
Trustee
Pillars of Wallex Ecosystem
Wallex divided its general functionality into five major pillars, namely:
Neobanking – Through neobanking, Wallet offers its customers unlimited access to several cryptos and fiat currency accounts. They could easily deposit, withdraw, exchange and spend their cryptocurrencies with cards. Also, neobanking inculcates wallet, business banking, institutional engagements, staking, and
Custody – With the Wallex custody account, users could perform different activities. They could transfer assets from the crypto accounts, make exchanges with fiat currencies, and others. Custody involves the account’s vault, Escrow, and Custody Pro.
Trust – Wallex Trust operations cut across wealth management, wealth container, tokenization, and insurance.
Pay – Payment in Wallet passes through several methods. These include payment gateway, Eurst, Tokask, and Trustchain.
Exchange – Wallex maintains several activities through its exchange. These include borrowing, earning, ProTrade and others.
Founder and CEO
The founder and CEO of Wallex is Simone Mazzuca. He applies a combination of traditional financial and blockchain technology to create a formidable, strong, and reliable ecosystem that will secure even the future. Mazzuca has several years of experience in financial consulting and was a manager of private and institutional clients in the USA, UK, and Italy.
Wallex Contributory Strategy
Wallex is building its ecosystem using a contributory strategy that helps it to improve the economy. The protocol creates a bridge for millions of investors and users such that they can easily access the dividends of the virtual space through blockchain technology.
Wallex strategy is built on the following 5 pillars:
To create a link to the new financial world.
Develop a transparent and reliable financial ecosystem.
Impact the masses on how to utilize the blockchain
Keep up good contact with the customers.
Harness its organizational structure to proper maintenance and development of talents.
Wallex Past Achievements
Wallex has made several great achievements in the past that depict the great stance of its ecosystem.
Here are some of its milestones.
Launch of Wallex Custody
Initiation and launch of the EURST project. This made a great wave for Wallex as the project enabled the pegging of fiat currency to the digital stablecoin. It’s a method to control the high volatility of digital assets.
Wallex Bank and Statutory Trust incorporation.
Launch of Wallex Bank.
Launch of Wallex 2
Wallex Future RoadMap
Wallex has laid out some plans that will help it to keep up with its strategies in providing continuous services to its customers. Some of its roadmaps include:
Launch of WLLXB V.3
Issuance of more than 13 stablecoins.
Launch of crowdfunding platform.
Launch of Tokash
Increasing its number of customers to 1 million.
Launch of asset tokenization platform.
Opening of First Wallex Store
Establish a full ecosystem and become a Commercial Trust of Digital currencies.
Bitcoin Mining Difficulty Drops for the Third Time in 2022, Just Over 100K Blocks to Go Until the Halving – Mining Bitcoin News
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Bitcoin miners have received their third break this year as the network’s mining difficulty adjusted downward by 1.26% on April 14 at block height 731,808. Currently, miners have more than 200 exahash per second (EH/s) in computational power dedicated to mining the Bitcoin blockchain as hashrate increased after the difficulty reduction. Additionally, bitcoin miners have another 108,160 blocks to go until the bitcoin reward halving that’s estimated to occur on or around May 3, 2024.
Bitcoin Miners Catch Their Third Break in 2022
Bitcoin’s mining difficulty adjustment algorithm (DAA) dropped on Thursday, as the parameter slid by 1.26% at block height 731,808. The reduction is the third DAA drop in 2022, as the difficulty slid by 0.35% on March 17 and by 1.49% on March 3. In 2021, the DAA dropped seven times and saw one of the largest reductions over the course of Bitcoin’s lifetime on March 7, 2021, sliding 27.94% lower that day. Since the change, BTC’s hashrate has increased and is presently hovering just over the 200 EH/s zone.
The 1.26% drop makes it easier for miners to find blocks as the difficulty was 28.59 trillion two weeks ago and today, the metric is now 28.23 trillion. At the time of writing, there are 1,982 blocks left until the next DAA change. Currently, it is expected to increase but being that it’s roughly two weeks away, the estimate could be very different by then. The next DAA change is estimated to occur on April 28, 2022. The current block subsidy of 6.25 BTC is worth $252,781 using today’s BTC exchange rate and in 751 days, that will change.
Just Over 100,000 Block Rewards to Go Until the Halving, More Bitcoin Mining Pools Joining the Fray
Bitcoin miners are getting closer every day toward the block reward halving that is expected to occur on or around May 4, 2022 (however, some estimates assume it may be on May 3, 2022). After that date, BTC miners will see their 6.25 BTC per block shaved in half to 3.125 BTC per block. Right now the network produces 900 BTC per day (144 blocks) and Bitcoin’s inflation rate per annum is 1.74% at the time of writing. So far, 90.53% of all the bitcoins that will ever exist have been minted and there are 1,988,481.23 BTC left to issue.
With the difficulty change making it easier to find blocks in comparison to the last two weeks, Foundry USA is the top mining pool over the last three days with 72 blocks found and 16.63% or 33.54 EH/s of hashpower. A few more pools have joined in recent days as there are now 14 known pools while two weeks ago there were only 11 known pools mining bitcoin. Currently, unknown hashrate or stealth miners command 1.39% of the global hashrate or 2.8 EH/s. Unknown hashpower has managed to acquire six blocks during the last three days.
What do you think about the network’s mining difficulty dropping? Let us know what you think about this subject in the comments section below.
Jamie Redman
Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about the disruptive protocols emerging today.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
Bitcoin Rebounds Nearly 6% | US, UK Report Multi-Year High Inflation
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The popular penny token Shiba Inu has revealed details of its much-anticipated virtual reality project, “SHIB: The Metaverse.” Ethereum’s native cryptocurrency, Ether, has been set as a land pricing token.
The new venture from the famous meme coin will comprise 100,595 plots, some of which will remain private. The sequence of lands will be released in phases.
According to Edul Patel, CEO and Co-founder of Mudrex, the primary purpose of the SHIB project is to build one of the strongest communities in crypto history. Its important announcements of entering metaverse space and offering over 100,000 plots of virtual space have gathered over 3 million followers, further increasing the token’s value.
The plots are priced between 0.2 to 1 Ether (ETH) and are divided into four categories: Silver Fur, Gold Tail, Platinum Paw, and Diamond Teeth. The neutral cryptocurrency has been fixed for land pricing to ensure that Shiba Inu’s native token has no downside. The metaverse will be developed in Shibarium, a layer 2 system for SHIB.
We would have to dump our own tokens price cashing them if we used our ecosystem tokens, and that is not in our plans, the Shiba Inu official blog stated.
According to Pratik Gauri, Founder, and CEO of 5ire, Shiba Inu has a large group of followers known as ShibuArmy, and will now allow users to earn passive income.
According to market experts, Shiba Inu is joining the metaverse to compete with Decentraland.
At the time of writing, the Shiba Inu SHIB price is up 15.49% to $0.00002675. The token was commanding a market capitalization of $14.8 billion, the data from CoinStats suggests.
According to Lokesh Rao, CEO and co-founder of Trace Network Labs, the entry or creation of any metaverse is beneficial to the industry’s growth because the future lies in the metaverse. These platforms enable people to conduct business, and the expansion of such platforms is directly linked to the increase of revenue generation potential and job creation, he added.
According to the blog, the Shiba Ecosystem will be used entirely by the SHIB: The Metaverse project, meaning all tokens $SHIB, $BONE, and $LEASH will play a part as phases roll out.
The developers stated that land buyers would be able to earn passive income, acquire in-game resources, and generate rewards shortly. Landowners can also rename their land while utilizing and burning the dog-themed token.
The cryptocurrency still faces risks of slumping to$30,000 as the Federal Reserve monetary policy is about to become a lot tighter in the coming months.
YEREVAN (CoinStats.app) — Bitcoin (BTC) has climbed above $41,000 as investors are returning to riskier assets amid persistently higher inflation in the U.S. and the U.K.
The flagship cryptocurrency, often touted as “digital gold” by hardcore Bitcoin supporters, rose to over $41,500 this Thursday. The rebound rally started April 11, after its bids had fallen to as low as $39,204, following a 14.6% month-to-date correction. As a result, Bitcoin’s overall paper profits in the last three days came out to be a little over 6%.
Bitcoin price on TradingView
Inflationary Pressures
Bitcoin’s modest rebound this week came with two key reports on inflation. In the U.S., the Consumer Price Index (CPI) for March increased 8.5% from a year ago, its highest level in four decades, according to the Bureau of Labor Statistics report published on April 12.
Inflation screenshot
Meanwhile, the U.K. inflation reached 7% in March for the first time in 30 years due to rising fuel prices.
Eric Weiss, founder, and chief investment officer at Blockchain Investment Group, a New York-based digital asset hedge fund, blamed the U.S. Federal Reserve for causing “bad inflation” after printing 41% more U.S. dollars than in its lifetime since March 2020.
Weiss projected Bitcoin as a long-term solution against rising consumer prices, noting that he would take his chances with the cryptocurrency.
Similar sentiments appeared across Crypto Twitter, with many analysts posting “buy Bitcoin” texts after the inflation reports.
Nonetheless, some of them also highlighted flaws in the “buy Bitcoin” strategy. For instance, Jan Wüstenfed, an economist at Quantum Economics, a market research newsletter, cited massive outflows from the Purpose Bitcoin ETF as an indication of investors reducing exposure to BTC.
In detail, on April 12, investors withdrew 840 BTC from the spot fund. The next day, they took away another 1,830 BTC.
“Notable is the more frequent occurrence of outflows and the relatively big size of outflows since March,” wrote Wüstenfed, adding:
“While the outflows themselves should not be market moving, it is a possible indication that investors are reducing exposure to #Bitcoin in times of high inflation, high uncertainty, and a FED that is tightening monetary conditions.”
Technical outlook
From a technical perspective, Bitcoin has been defined by the movements within the bearish flag.
In detail, bearish flags are candlestick chart patterns that signal the extension of the downtrend once the temporary pause is finished. After a strong downtrend, the price action consolidates within the two parallel trend lines in the opposite direction of the downtrend. Once the supporting trend line gets broken, the bear flag pattern is activated as the price action continues trading lower.
Consequently, Bitcoin’s current skew indicator is shifting to the downside.
This puts Bitcoin at risk of retesting again at the $30,000 level.
ZIL was up by more than 20% in Thursday’s session, as prices rebounded following a string of recent drops. RUNE was also up by over 15% today, as it hit its highest point so far this week. Overall, the global crypto market cap is up 2.08% as of writing.
Zilliqa (ZIL)
Following almost two weeks of declines, ZIL finally stopped the bleeding, rallying by over 20% during today’s session.
ZIL/USD rose to an intraday high of $0.1263 earlier in Thursday’s session, as price continues to move away from its recent support point.
This floor was at the $0.1033 level, which has historically seen significant bullish moves begin from there, and today’s rally follows this trend.
ZIL/USD – Daily Chart
Recent momentum in ZIL has now taken prices to what seems to be a short-term ceiling of $0.1245, with some expecting an imminent breakout.
However, there appears to be an obstacle in place which could potentially prevent this from happening, with the 14-day RSI also trading at resistance.
Looking at the chart, the relative strength index is currently tracking at 57.06, which is slightly below the ceiling of 57.70.
Should this point be broken, we could be looking at ZIL rallying back towards $0.1400.
THORChain (RUNE)
RUNE also rose on Thursday, moving past XTZ to cement itself as the world’s 44th-largest cryptocurrency.
Following a bottom of $7.42 during Wednesday’s session, RUNE/USD climbed to an intraday high of $9.35 earlier today.
The move came as RUNE moved away from the support level of $8.15, following what appears to be a false breakout.
RUNE/USD – Daily Chart
Since today’s surge which saw prices come close to a ceiling of $9.45, there has been some profit taking from traders who look to avoid any price uncertainty heading into the long weekend.
As such, we now have a doji pattern being formed in today’s candlestick, which encapsulates this uncertainty, with bears selling while bulls are buying simultaneously.
Currently, with the RSI still marginally below its ceiling of 50, if it could reach this level, the narrative could change, with more bulls being buoyed to re-enter the market, pressuring bears to give way in the process.
Could we see RUNE hit $10 before the end of this week? Let us know your thoughts in the comments.
Eliman Dambell
Eliman brings a diversified point of view to market analysis, having worked as a brokerage director, retail trading educator, and market commentator in Crypto, Stocks and FX.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
The Ultimate Exodus Review (For 2022)| CoinStats Blog
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Exodus Pros
Supports more than 150 cryptocurrencies
Intuitive and easy-to-use interface
Dedicated customer support team
In-app crypto-crypto exchange
Seamless linkage to decentralized finance (DeFi) and exchanges
Desktop wallet and mobile wallet support
Exodus Cons
High transaction fees compared to other wallets
Lack of two-factor authentication
Doesn’t implement a multi-signature wallet
Introduction
The cryptocurrency world is filled with a dizzying array of wallets, each purporting to be the one true wallet for all crypto. From desktop wallets to mobile wallets to paper wallets, there’s a variety of options out there. The right one depends on what you are looking for.
Are you looking to store a small number of coins safely online?
Do you want control over your private keys and your wallet address?
Or do you want to set up a secure wallet and never think about it again?
If you have answered “yes” to any of these questions, then you are ready to set up your Exodus wallet account.
Read on for our ultimate Exodus review to learn about the key features of this cryptocurrency wallet, including Exodus fees, pros and cons, products, and more.
Exodus offers a straightforward, easy-to-use interface, access to over 150 assets, and a wide range of features. While investors of all skill levels can benefit from the wallet, it’s ideal for beginner crypto enthusiasts looking for ease of use. Exodus support is not only professional but also responsive to Exodus customers.
JP Richardson and Daniel Castagnoli crafted Exodus – one of the most straightforward and best-designed crypto wallets – with love, as stated on its homepage.
Exodus supports a wide range of coins, including some of the most popular cryptocurrencies globally, such as Bitcoin, Ethereum, and Dashcoin, to name a few. However, one of Exodus’ cool features is that you can also store cryptocurrencies that are currently unsupported or based on the ERC-20 blockchain. The funds can be used across all platforms that support Exodus.
Exodus is a multi-currency software wallet created in 2015 by JP Richardson and Daniel Castagnoli. The “two guys with a passion for blockchain assets,” as described on the Exodus homepage, aimed to provide an easy-to-use cryptocurrency wallet that was great for newbies. Exodus is free to download and is available on the desktop for Linux, Windows, and macOS and on mobile devices running iOS and Android.
JP Richardson has published over 200 open source libraries and has written code in use by most Bitcoin and cryptocurrency software on the web today.
Daniel Castagnoli is a master of emotional design and has designed experiences for various brands, including Apple, BMW, Disney, Louis Vuitton, and Nike.
The Exodus team wanted to make cryptocurrency trading easy for all Exodus users, and their main priority was the product’s design. You don’t have to be an expert in crypto coins to use the Exodus wallet.
How Does Exodus Work
Exodus desktop screenshot
The primary objective of the Exodus platform is to simplify the access, management, and use of digital assets.
You can manage your blockchain portfolio using Exodus, a software that runs locally on your computer. No account signup is required. Exodus is a hot wallet that stores and encrypts everything on your computer compared to a cold wallet disconnected from the internet. Given that each type of wallet has its strengths and weaknesses, your choice will depend on your investment needs and preferences.
Let’s break down some features of software wallets you need to know:
Wallet
Exodus functions through a series of codes that let users manage and link their crypto coins in different blockchains. It stores a set of 3 codes:
Private keys
Peed phrase (a recovery code)
Public address.
The private keys offer access to the crypto in blockchains, whereas the public key acts as an address for the wallet. Users can use the seed phrase to regenerate their private keys if private keys are lost.
Portfolio
Exodus team designed a portfolio page to show relevant information, including the breakdown of the owned cryptocurrencies and their updated values against fiat currencies. Exodus customers can use portfolio to track their holdings and performance.
You can use the Exodus mobile app or desktop application as your crypto portfolio tracker.
The Exodus’ integration with ShapeShift, one of the best crypto exchanges around, has led to a unique value position. ShapeShift is praised for its trading platform, security measures, user interface, and its privacy features, among other features. So, the integration enables Exodus’ users to trade on this exchange directly from the Exodus wallet with extra speed and privacy.
Features of Exodus Wallet
The Exodus wallet has plenty of features, among them:
Users can download Exodus Wallet for free, and there is no registration and personal information required.
It’s one of the most accessible wallets, supporting multiple currencies.
It’s easy to make transactions; as long as you have automatic fee adjustment set up, all transactions will be priced at a fair market rate (which beginners might not feel confident doing themselves).
The company boasts of a 24*7 customers support team with quick responses, an advantage that is rare among cryptocurrency products these days!
Exodus offers a one-click, easy-to-use layout, private keys, and hardware wallet support.
Exodus Wallet Security
As with any mobile or desktop wallet, Exodus wallet is as secure as your device. The Exodus software wallets can be easily hacked, and most users may lose funds if the device gets attacked by keyloggers or malware.
The points mentioned below can be potential deal-breakers if you are concerned about the security of your Exodus wallet:
If the device that holds your Exodus wallet has a virus, malware, or is compromised, the security of your wallet is at risk.
The mobile app does not support essential security features like multi-signature or two-factor authentication.
While Exodus stores your cryptocurrency online, it’s noncustodial, giving you complete control of your private keys.
Exodus offers two methods of restoring a wallet. If you lose your Exodus Bitcoin wallet or if it gets damaged or stolen, you can restore your wallet in the following ways:
12-words recovery phrase: A 12-word phrase is given to new users when they create an account. If your device breaks down, you can use this phrase to access cryptocurrency wallets.
Email restoration: You can restore your wallets through an email sent to your linked account.
To sum up, it’s vital to keep your Exodus wallet safe. Users can contact Exodus customer support to get help in case of a security compromise.
What Kind of Wallet Is Exodus
Exodus is a noncustodial DeFi wallet that gives you complete control over your crypto assets. It doesn’t manage or take custody of any assets on your behalf but instead offers users more options and freedom for their coins.
Exodus also supports the TREZOR hardware wallet, which provides a sleek interface and robust security for individuals looking for a substantial measure of protection from hackers.
Exodus is also designed as a lite wallet so that it does not download the entire blockchains to the device and instead uses a series of servers to track wallet balances — making the setup significantly faster. The faster setup makes the Exodus wallet convenient for use on any device, including Windows, Mac OS, Linux, Android, and iOS platforms.
The Exodus wallet’s exchanging assets feature works exceptionally well, offering crypto beginners an easy way to trade without getting lost amongst all the available choices!
Exodus Products
The Exodus wallet is designed to be your personal crypto manager. It allows you to store, send, and receive currencies like Bitcoin or Ethereum with a simple touch of the screen.
Let’s look into the Exodus wallet products:
Mobile Wallet
Exodus mobile wallet is one of the most uncomplicated wallets with an intuitive design.
The Exodus Bitcoin wallet provides 3 interfaces for transactions:
Portfolio
Exchange
Wallet.
Desktop Wallet
Originally a desktop-only wallet, Exodus is among the best crypto wallets for desktops due to the speed of its transactions, ease of use, and varied functionality.
Trezor Hardware Wallet
Exodus is an all-in-one application for managing, trading, and exchanging blockchain assets. It provides a secure way to store cryptocurrencies by integrating with hardware wallets like Trezor Model T or Trezor One. It also helps you exchange one type of cryptocurrency for another without leaving the safety of the wallet interface on your computer.
How to Create an Exodus Wallet
First, you’ll need to sign up for a free Exodus wallet at Exodus.io. After verifying your email, you’ll be given access to your new wallet.
Download the Exodus Wallet Application
Next, you’ll need to install the Exodus software wallet. Users can download the current release of Exodus from the Google Play Store, Windows Store, etc.
Create a New Wallet
Now that you have the Exodus wallet installed, you must create a new wallet. You can do this by going to “Exodus” in your main menu and selecting “Create New Wallet.”
Next, you will be prompted to enter a password. Remember this password, as this will be the password needed to access your wallet.
Every asset in your wallet comes with a private key. To check the private key of an individual asset, go to the Developer Menu → Assets → View Private Keys. Copy and save these keys somewhere safe for safety reasons, and don’t disclose them to anybody.
Sending Cryptocurrency Using Exodus Wallet
You can use the Exodus wallet to Send, Receive, and Exchange your cryptocurrencies. Follow our step-by-step guides below for each transaction.
Receiving Coins on Exodus Wallet
To receive coins in your Exodus wallet:
Open your wallet and click the “Wallet” tab.
Click on the coin that you want to receive.
Click “Receive,” then click “Copy.”
Paste this address into where Easy Crypto asks for an address when making a buy order or anywhere else that you want to receive from.
Sending Coins on Exodus Wallet
To send coins:
Click on the “Wallet” icon at the top of your Exodus wallet.
Click on the crypto you want to send, then click the “Send” button.
Paste in the address you want to send your crypto to. You can also scan a QR code with the recipient address or invoice either from your webcam or from your desktop by clicking the QR code button and selecting where to scan from.
Enter the amount you want to send. Exodus lets you send in the blockchain unit, or you can enter an amount of fiat currency value, and Exodus converts it to crypto for you.
Exodus will then confirm again that you have entered the correct details. If all looks good, click the “Send” button.
Exchanging Coins on Exodus
ShapeShift exchange built into the wallet allows for easy, hassle-free currency exchanges within the app.
Here’s how to exchange coins:
Open your Exodus wallet on your mobile device and tap on the “Exchange” tab at the bottom.
a) Select the asset from the drop-down menu that you want to swap on the top, b) Select the asset you want to receive on the bottom.
Check current rates by clicking View Rates, then enter the amount of crypto you want to exchange.
The transaction fee will also be shown in the asset you are exchanging from. Press and hold it to change it to the fiat equivalent.
Once you are happy with the amount of crypto, you will send and receive in your exchange, just tap the “Exchange Now” button at the bottom.
Frequently Asked Questions
Is Exodus a Hot Wallet or a Cold Wallet
Exodus is a hot wallet, which means your assets are stored online, but it’s noncustodial, meaning that only you have access to your private key.
How Does Exodus Make Money
Exodus generates revenue through partnerships with exchanges and other API providers. It receives a small percentage of the exchange fees spread from third-party API providers, which can vary greatly depending on market conditions. You will always know how much crypto you are exchanging and what amount of cryptocurrency you will receive before proceeding to an actual transaction via the exchange section in your wallet.
Does Exodus Wallet Have Fees
You don’t have to pay transaction fees when you withdraw Bitcoin (BTC), Ethereum (ETH), or any other cryptocurrency. You only have to make sure that the network fees are paid when sending transactions. Exodus does not charge for receiving cryptocurrencies in your wallet either. You only have to bear the custom network fees!
Is Exodus Wallet Trustworthy
Exodus stores all of your cryptocurrencies directly on your devices. You have complete control over them anytime you want. Exodus runs a backup and stores no information about the keys or passwords for these assets on their servers to make it more secure.
So to answer the question – Yes, the Exodus wallet is as trustworthy as a digital wallet can be.
Exodus Review: Conclusion
To sum up the Exodus Wallet review, Exodus is an excellent hot wallet for beginners, and its ease of use has made it a user’s first choice compared to other user-friendly wallets.
The attractive design of the intuitive interface allows users to send, sell, and buy cryptocurrency in small amounts without requiring a lengthy process, making it a leading cryptocurrency wallet.
However, custom fees are currently restricted to Bitcoin, and the wallet is more focused on user crypto experience than security, making Exodus less beneficial for advanced users with considerable funds in their software wallets.
You can read more on Jaxx vs. Exodus in the CoinStats blog section.
