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The Crypto Winter Freezes Ethereum And Monero, Rocketize Presale Is Scorching Hot

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The Crypto Winter Freezes Ethereum And Monero, Rocketize Presale Is Scorching Hot

Long-term investors and traders may decide to hold off on making a purchase when a security, stock, or cryptocurrency price declines from its most recent high. Most cryptocurrency investors believe that the recent price dip will be temporary, allowing them an opportunity to buy shares at a discount.

You have the potential to become one of the tremendously wealthy people who use this method if you begin investing in Rocketize (JATO), Ethereum (ETH), and Monero (XMR) as soon as possible. Keep reading to learn about the remarkable potential of these cryptocurrencies.

 

Ethereum (ETH) The World’s Largest Blockchain

Ethereum (ETH) is a decentralized network that runs smart contracts, which are code-written apps that execute as intended with no danger of fraud or third-party interference. These applications run on a custom-built blockchain, a massively powerful shared global system that can move value and reflect property ownership.

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This enables developers to create markets, keep registries of commitments or promises, move funds based on long-ago instructions, and do several other things that have yet to be invented, all without the requirement for a middleman or counterparty risk.

The Ethereum (ETH) blockchain is the world’s largest and most widely used smart contract platform. Ethereum (ETH) is anticipated to be trending as a result of its recent merger, which resulted in its consensus process switching from Proof of Work to Proof of Stake. In the long run, this will end in Ethereum (ETH) becoming much more energy-efficient and sustainable.

Investors are also positive about Ethereum (ETH) because of its expanding developer ecosystem and the growing number of decentralized apps (dApps) built on Ethereum (ETH).

 

Monero (XMR) The Unique Coin

Monero (XMR) is one of the world’s first cryptocurrencies to prioritize user privacy. To accomplish this, the platform developed certain new technologies. Monero (XMR) is a unique coin that innovatively addresses the cryptocurrency business.

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Privacy is essential in today’s financial world, and Monero (XMR) provides a solution. Although Bitcoin transactions were formerly assumed to be anonymous, particular services and technologies can be utilized to identify the parties involved.

As a Monero holder, you are a member of a global community of people who appreciate privacy and security. Monero (XMR) is a crypto that uses blockchain technology to ensure the privacy of your transactions. Monero (XMR) is untraceable due to the use of ring signatures and stealth addresses to conceal the sender and receiver’s identities.

Monero (XMR) is also fungible, which implies that all Monero (XMR) are the same and may be exchanged. In today’s digital world, privacy is becoming increasingly vital. You are advocating for privacy by keeping Monero (XMR) in your wallet.

 

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Rocketize (JATO) The New Meme Coin

Rocketize token (JATO) is a meme currency project that offers the best meme coin features and Defi solutions to consumers. The meme coin aspires to be a hybrid of the market’s best meme coins. It offers Shiba token-based solutions such as DOGE and DeFi. Rocketize is a new meme coin that will be available on the Binance smart chain. As a result, the system’s scalability should not be a concern.

Rocketize is a project that promises to be interoperable and to enable a cross-chain decentralized cryptocurrency exchange. This DEX will bridge the blockchain gap, allowing for a seamless flow of data and uniting the cryptocurrency sector.

Rocketize (JATO) will be compatible with NFTs. Its platform will allow for the creation and trade of NFTs. It claims to use its unique assets to expand its NFT platform and take over the other NFT trading networks.

Rocketize is also a meme coin project that is set to prosper in the crypto arena. It, like Dogecoin and Shiba Inu, will grow and govern its project by bringing its community members along.

The ecosystem will encourage a crowdfunding platform that incorporates several mechanisms. This service will enable content creators, innovators, and artists to raise cash for their projects.

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Rocketize (JATO) is laser-focused and has a well-thought-out strategy with an appealing and achievable road map. Its roadmap indicates the development of a GameFi network. This blockchain-based game will draw users to the platform, generating more revenue.

 

For More Information On Rocketize (JATO):

Presale: http://rocketize.io/buy

Website: http://rocketize.io/

Telegram: https://t.me/RocketizeTokenOfficial

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crypto winter

Ethereum NFTs surrender to crypto winter; will ETH suffer the same fate

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Ethereum NFTs surrender to crypto winter; will ETH suffer the same fate

  • Ethereum witnessed a decline in NFT transactions, but blue-chip collections did well
  • Ethereum observed support from retail and large investors

NFT transactions on Ethereum have declined significantly, from 22% NFT dominance to 8.3% according to crypto analytics firm Glassnode. On the other hand, stablecoin transactions grew and took up the space originally conquered by NFTs. This declining interest from traders could affect the overall NFT market negatively.

NFTs on #Ethereum accounted for 18% to 22% of transactions during H1-2022.

However NFT dominance has since declined to just 8.3%, as interest in the space wanes during the bear market.

Stablecoin dominance has spiked since FTX from 10% to 12.5%.

Chart: https://t.co/m0UL2Xo7J5 pic.twitter.com/PgImnSIkRK

— glassnode (@glassnode) December 5, 2022

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Read Ethereum’s [ETH] Price Prediction 2023-2024


NFT blue chips remain unaffected

Despite the declining NFT transactions, blue chip NFT collections on the Ethereum network performed relatively well. According to data provided by NFTGO, collections such as the Bored Ape Yacht Club [BAYC] witnessed a massive 337% uptick in terms of volume.

Furthermore, the number of sales went up by 325% over the last week. Mutant Ape Yacht Club [MAYC], another collection, also witnessed a similar growth in terms of volume and sales.

This indicated that the lower transactions on the Ethereum network had not affected blue chip NFTs, but may have influenced smaller and upcoming collections.

Thus, at the time of writing, large addresses continued to support ETH. As can be seen from the image below, the number of addresses holding over 32 coins reached an all-time high of 128k addresses at the time of writing.

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Additionally, retail investors showed faith in the altcoin as well. According to Glassnode‘s data, the number of addresses holding 0.01 coins increased significantly and had reached a three-month high of 22.3 million addresses.

Source: Glassnode

Traders start ‘Long’ ing for Ethereum

Traders have always shown faith in Ethereum. Top traders on the Binance exchange took advantage of a declining ETH and went long on Ethereum.

At the time of writing, over 50% of the overall traders on the Binance exchange had held long positions on Ethereum.

Source: Binance Futures

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Moreover, Ethereum’s Market Value to Realized Value (MVRV) ratio suggested that the tide was turning in favor of addresses holding ETH. This suggested that some Ethereum holders could take profits if they ended up selling their position.

However, the Long/Short difference indicated that it would mostly be short-term holders that would end up profiting if they decide to sell their ETH.

Source: Santiment

Ser Suzuki Shillsalot has 8 years of experience working as a Senior Investigative journalist at The SpamBot Times. He completed a two-hour course in journalism from a popular YouTube video and was one of the few to give it a positive rating. Shillsalot’s writings mainly focus on shilling his favourite cryptos and trolling anyone who disagrees with him. P.S – There is a slight possibility the profile pic is AI-generated. You see, this account is primarily used by our freelancer writers and they wish to remain anonymous. Wait, are they Satoshi? :/

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crypto exchange

As crypto winter freezes profits, these exchanges are now left in the cold

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As crypto winter freezes profits, these exchanges are now left in the cold

  • Australian crypto exchange Swyftx cuts down workforce by 40% due to the ongoing crypto winter
  • ByBit decides to lay off employees for the second time considering the market scenario

The crypto winter that was triggered in June after the collapse of Terra [LUNC] only worsened with the downfall of the Bahamas-based crypto exchange FTX. The exposure to affiliated entities paired with the current climate of fear and uncertainty has become a nightmare for crypto companies. 

Swyftx cuts workforce by 40%

Several firms have had to reduce their workforce to cut costs and navigate the crypto winter. Australia-based crypto exchange Swyftx has become the latest firm to announce layoffs to weather the harsh bear market. 

According to a press release put out by the exchange, 40% of the staff will be laid off. The decision was taken in anticipation of a significant drop in global trade volumes during the first half of 2023. Swyftx CEO Alex Harper clarified,

“Swyftx has no direct exposure to FTX, but we are not immune to the fallout it has caused in the crypto markets.” 

ByBit announces layoffs

Popular crypto exchange ByBit also announced its plans to reduce its workforce over the weekend. Co-founder and CEO Ben Zhou revealed in a Twitter thread that the exchange’s plans to reorganize involved a significant portion of their workforce to be laid off. 30% of ByBit’s staff are estimated to be affected by the downsizing plans. 

1) Difficult decision made today, but tough times demand tough decisions. I have just announced plans to reduce our workforce as part of an ongoing re-organisation of the business as we move to refocus our efforts for the deepening bear market.

— Ben Zhou (@benbybit) December 4, 2022

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Zhou said,

“It’s important to ensure Bybit has the right structure and resources in place to navigate the market slowdown and is nimble enough to seize the many opportunities ahead.”

This is the second time that ByBit laid off employees this year. The first round of layoffs came earlier this year in June following the collapse of Terra. It is interesting to note that ByBit had unveiled a $100 million support fund for institutions in order to help them with spot and USDT perpetual trading on the exchange. 

Crypto winter affects the industry

The crypto winter that gripped the industry even before FTX’s collapse was already a matter of concern. Layoffs in the industry ramped up at the beginning of the fourth quarter, with big names like crypto.com and NYDIG laying off over 30% of their employees. Popular crypto exchange Kraken was in the news last week for laying off over 1000 employees.

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Ser Suzuki Shillsalot has 8 years of experience working as a Senior Investigative journalist at The SpamBot Times. He completed a two-hour course in journalism from a popular YouTube video and was one of the few to give it a positive rating. Shillsalot’s writings mainly focus on shilling his favourite cryptos and trolling anyone who disagrees with him. P.S – There is a slight possibility the profile pic is AI-generated. You see, this account is primarily used by our freelancer writers and they wish to remain anonymous. Wait, are they Satoshi? :/

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Bear Market

Bitcoin Price Soars 5% In Last 7 Days – More Increases Coming This Week?

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Bitcoin Price Soars 5% In Last 7 Days – More Increases Coming This Week?

In recent days, Bitcoin has shown a good degree of bullishness. CoinGecko reports that Bitcoin’s price has increased on a daily and biweekly basis, suggesting that the market may be recovering from FTX’s fall. Investors at large were also optimistic.

The BTC bottom is still in effect, presenting excellent chances for long-term investment. There was little gains with hash ribbon despite the occurrence of a golden cross (chart below), as the price remained unchanged. Also, there is a 50/50 chance of a decline in the market to at least $16.950.

Dan Lim, an analyst at CryptoQuant, has made some recent comments that could signal the beginning of a bull market. First, he pointed out that Bitcoin’s MVRV value is extremely low, almost identical to previous market bottoms.

Next, the price of hash has not increased since the golden cross was supposed to be achieved, hence the hash ribbon has failed. Is BTC’s price about to stage a comeback? If not, is there more suffering in store?

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Bitcoin Price: Inconsistent Numbers

The price of bitcoin (BTC) is now displaying highly inconsistent trends. As the RSI rises on the daily time frame, it appears to keep its strong bearish momentum.

The expanding Bollinger band supports the bullish outlook for the future. But the current BTC price candle, which is presently trading at $17,315.01, has met a resistance that has not been breached since the price fall on November 11. In addition, a rising triangle pattern contributes to a fairly restricted trading range.

Chart: TradingView

The token’s RSI is overbought, indicating that bearishness persists on shorter durations. Although the EMA ribbon appears to be sustaining an upward trend, a bearish crossover could occur within the next few hours or days.

As a potential trend reversal looms, BTC investors and traders should closely monitor the present market scenario. Following the recent price fluctuations, the MFI indicates a likely upcoming decline.

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If the bearish reversal occurs, a decline to $16,970 is conceivable. Strong bearish momentum can drive the price closer to $16,660 or higher.

Mixed Opinions About Bitcoin

Bitcoin clearly has bullish characteristics. Bitcoin price has been up about 5% in the last week, and some analysts expect it will tally more increases in the coming days.

However, as miners and merchants continue to incur losses and reserve levels remain high, Bitcoin’s path remains challenged.

The next consumper price index (CPI) numbers that will be revealed on December 13 will determine whether or not macroeconomics will boost the price of Bitcoin.

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BTC total market cap at $332 billion on the daily chart | Featured image: Unsplash, Chart: TradingView.com

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