• Dogecoin is trading above the $0.088 resistance against the US Dollar.
• A crucial bullish trend line is forming with support near $0.0868 on the 4-hours chart of the DOGE/USD pair.
• The pair could rise further if there is a clear close above the $0.093 resistance.
Dogecoin is gaining momentum against the US Dollar, with the price consolidating above the $0.088 resistance and the 100 simple moving average (4-hours). There is a crucial bullish trend line forming with support near $0.0868 on the 4-hours chart of the DOGE/USD pair, indicating that the bulls are in control of the market and the price could rise further.
The recent uptrend in Dogecoin started after forming a base above the $0.080 zone. DOGE was able to slowly climb higher above the $0.082 and $0.085 resistance levels. There was a clear move above the $0.088 resistance zone to move further into a positive zone. However, the bears were active near the $0.092 and $0.093 resistance levels, which prevented further gains.
The price is now consolidating gains above $0.090. On the upside, the first major resistance is near the $0.0930 level. If the bulls can gain strength above the $0.093 resistance, the price could start a sustained upward move. The next key resistance is near the $0.095 level. Any further gains might push the price towards the $0.100 and $0.102 levels.
On the downside, the $0.088 level is currently acting as a strong support. If there is a downside break below $0.088, the price could retest the $0.085 support. The main support is near the $0.082 level, below which the price could test the 100 simple moving average (4-hours).
Overall, Dogecoin is in a positive zone above the $0.088 support. If the bulls can gain strength above the $0.093 resistance, there are chances of a strong upward move towards the $0.100 and $0.102 levels.
• On-chain data suggests that the annual rate of change in the Bitcoin Puell Multiple has exited the bear market zone, which could be an indication of the return of the bull market.
• The Puell Multiple is an indicator that measures the ratio between the daily Bitcoin mining revenue (in USD) and the 365-day moving average (MA) of the same.
• When the Puell Multiple is greater than 1, BTC may be considered overvalued, while being lesser than this value might suggest the coin is undervalued.
Bitcoin, the world’s leading cryptocurrency, has been on a roller coaster ride for the last few years. After a rapid rise in 2017, it has been in a bear market for the past 2 years. However, recent on-chain data indicates that the tide may be turning in favor of the bulls.
The Bitcoin Puell Multiple is an indicator used to measure the ratio between the daily Bitcoin mining revenue (in USD) and its 365-day moving average (MA). It is calculated by taking the daily mining income divided by the 365-day MA. When the value of this metric is greater than 1, miners are making more money than the yearly average right now. Conversely, values below the threshold imply the revenues of these chain validators is less than usual.
The 365-day rate of change (RoC) of the Puell Multiple is of particular interest. This metric displays the speed at which any metric changes its value over a defined period. When the Puell Multiple is greater than 1, it suggests that Bitcoin may be overvalued, while being lesser than this value might indicate that the coin is undervalued.
Analysts have noticed that the 365-day RoC of the Puell Multiple has exited the bear market zone, which could be one of the first indications of the return of the bull market. This could mean that miners are making more money than usual and thus, they may be less likely to sell BTC. This could affect the price of the crypto positively, leading to a bull rally.
Therefore, this is an important metric to keep an eye on for anyone interested in the price of Bitcoin. The Puell Multiple and its rate of change could be a sign that the bear market may be coming to an end and that the bulls may finally be in control.
• The article discusses Vitalik Buterin’s proposal for a stealth address system as a fix for the privacy problem on the most active smart contracting platform, Ethereum.
• This system would differ from the one offered by crypto mixers and other platforms, as it would put the recipient in charge of the transaction, giving them more control over the privacy of their transactions.
• Ethereum and other public blockchains currently allow transactions to be traced by default, making Vitalik Buterin’s proposed system necessary to ensure privacy.
Vitalik Buterin, the co-founder of Ethereum, has proposed a revolutionary stealth address system in order to address the privacy issue in the most active smart contracting platform. This system is radically different from the ones offered by crypto mixers like Tornado Cash and other platforms, as it puts the recipient in charge of the transaction and gives them more control over the privacy of their assets.
Currently, transactions in Ethereum and other public blockchains can be traced by default, no matter the basic levels of encryption used to conceal the identity of the sender and receiver. In order to counter the openness and ensure the privacy of asset receivers, stealth addresses would be created and managed by the receiver. At any point in the transfer cycle, the receiver would be able to create a spending key, which he can use to create a “stealth meta-address.” This address is then sent to the sender, who does a small computation and creates a stealth address that belongs to the recipient. The recipient then has control of the transaction, and can ensure that their assets are kept private and away from the public’s prying eyes.
The proposed stealth address system is a groundbreaking solution to the privacy problem on Ethereum and other public blockchains. It allows the receiver to maintain full control over their transaction, while also providing them with the privacy and security they need to keep their assets safe. Vitalik Buterin’s proposed system is sure to revolutionize the way we view privacy and will be a great addition to the Ethereum platform.