Here's the Analysis of #FET :

#FEt gave a breakout of the resistance area and looks like a fakeout now. Price Actions Looks very messy from the past few weeks. Price also moving within the small uptrend channel pattern, so a breakout is needed and hodling above it. A flip above will open a new room for next resistance around $3.00.

Big news in the crypto world! 🎉

The SEC has approved the #EthereumETF, opening new doors for investors and solidifying ETH's place in mainstream finance.

#BTC gave a break to the downside a bit aggressively, and nearly reached the support zone. Price already showing some sort of buy pressure and rejecting too. Well, no bias as of now, as price is middle of the market, so wait for the price to reach a zone.

#TOTAL MARKETCAP UPDATE :

#TOTAL MARKETCAP working well with drawn zones, index made a clean move and breakout too. Index made its upmove with a proper retest though. Now, its retracing and already testing the support. Minor dumps can be also expected, as weekend is about to kick in.

The Net Unrealized Profit/Loss (NUPL) metric compares BTC and ETH performance by showing investor profitability relative to the average on-chain cost basis.

A NUPL >0.5 indicates that unrealized profits exceed 50% of the asset's market cap, marking new ATHs and the euphoria phase.

During the market rally from spot Bitcoin ETF approvals, BTC's NUPL crossed 0.5 and entered euphoria three months before ETH's, as BTC holders' profits grew faster.

What Are Ring Miners?

Loopring is an Ethereum-based exchange and payment protocol that implements a novel consensus mechanism. To avoid traditional order books and the AMM mechanisms that govern liquidity pools, Loopring employs network participants known as ring miners.

Ring miners facilitate orders by filling them before they can be completed or canceled. Those who work as ring miners are paid a service fee in the form of LRC tokens which is Loopring protocol's native token or a slip-margin from an order amount.

Ring-Miners are critical components of the Loopring network. Their activities revolve around executing orders with the help of order rings to gain a service fee. There are two types of rewards that ring-miner receive:

The first is the fees in the form of the Loopring (LRC) token generated by the platform. Under this case, the user who creates an order specifies the maximum number of LRC tokens to be rewarded to the ring-miner as a service fee.

Ring miners are also awarded through split margins, which are deducted from the total amount of a specific order. While placing an order, the user can also specify the portion of the margin that can be claimed for a specific order.

The decision of choosing between fees and margins is up to the ring-miners.

The compensation system in Loopring is intended to help ring miners receive adequate financial reward for the services they deliver during the order ring. It is based on an incentive system so that miners seek out the best exchange rate deals to obtain better split margins or service fees for themselves. Finding the perfect trading deals also ensures that users receive the most value for their traded cryptos, making it a promising win-win situation for both parties involved.

The Loopring smart contract defines how to fill an ordered ring when a ring miner completes it.

If the smart contract can execute the order on either side of the trade, it will perform a direct transfer from the smart contract to the user's wallet. Order rings also make ring-matching possible. Ring-matching completes orders by linking them together and securing multiple trades through multiple users. Order rings distinguish Loopring from other DEXs such as Waves or Bancor.

Let us make an imaginary order to better showcase these practices in action. Karen, Mark, and Dane are all interested in making a trade on the Loopring network. Karen wishes to exchange 2 HNT for 10 ADA, Mark wishes to exchange 21 VET for 1.5 OMG HNT, and Dane wishes to exchange 20 ADA for 40 VET. Ring miners would use ring-matching to combine these dislocated orders into a single order ring, in which Karen would trade her HNT with Mark, Mark would trade his VET with Dane, and Dane would trade his ADA with Karen. Everyone receives their desired coins after this ring order is approved by Loopring's smart contracts.

Except for Mark's, no one's order is filled. Loopring's order sharing would handle the leftovers, which would then be filtered into another order ring until each incomplete order is added up to the complete order.

#ETH UPDATE :

#ETH breakout of the falling wedge pattern and broke the resistance area too. The move occurred due to the #ETH #ETF news. Now, price hodling above the zone and rejecting the zone as support too. Expected a next leg up towards the resistance area of $4,111 - $4,215.

#BITCOIN DAILY TF UPDATE :

#BITCOIN on Daily TF, moved up with the strong move after the fakeout. On HTF, its more looks like a large range, and this was leading towards the Mid-Term Rally in alts both sides. Right now, not expecting much from here as price is in the middle. Weekly closing will play important role for the market.

The Short-Term Holder (STH) cohort includes investors who acquired coins within the last 155 days. Their average acquisition price acts as resistance in bearish trends and support in bullish trends.

This week, Bitcoin dipped below the STH Cost Basis at $59.8k, found support, and rallied. Retests of the STH Cost Basis are common in uptrends and are key levels to watch for potential inflection points.

What Is Rough Consensus ?

Rough consensus, in its bare essence, refers to a method of decision-making that doesn't necessarily require unanimity. Instead, it allows to strike a balance, offering a decision that the majority agrees with, while not dismissing the views of the minority. In our increasingly connected and participatory world, this approach to decision-making has become even more critical.

Contrasting this with complete consensus, which demands total agreement, rough consensus is more about gauging the general trend of opinions. This subtle yet significant difference makes it a more practical and feasible approach in larger groups or complex systems, like blockchain governance, where achieving total unanimity is almost a Sisyphean task.

Deciphering Rough Consensus in the Blockchain & Cryptocurrency Sphere

In blockchain governance, rough consensus holds a pivotal role. The decentralization principle of blockchain technology necessitates a democratic way to make collective decisions. That's where rough consensus comes into play.

Bitcoin and Ethereum, two of the biggest cryptocurrencies, adopt this method of governance. In these systems, changes are proposed, and participants are allowed to vote by expressing their support or opposition. Unlike majority rule, where a simple 51% can dictate the outcome, rough consensus attempts to reconcile differing views and find a solution that, while not perfect, is acceptable to the majority.

Of course, there are other consensus mechanisms in the world of blockchain, like Proof-of-Work and Proof-of-Stake. But these mechanisms serve a different purpose. They are technical mechanisms used to validate transactions and create new blocks, maintaining the blockchain's integrity and security. In contrast, rough consensus is a socio-political method for decision-making within the blockchain community.

Here's the Analysis of #ENJ :

#ENJ moving off from the strong support zone of $0.25 - $0.26 and broke the resistance line too. Price moving through the uptrend channel pattern and expected to tap into the Major Resistance Area of $0.40 - $0.41. You can trade the move till major level.

#BITCOIN WEEKLY TF UPDATE :

#BITCOIN on Weekly TF, gave a shallow closing over the resistance area. Price made a aggressive push to the upside, and hit the daily resistance area. Its getting a rejection and might have a retracement by next week.

#DXY UPDATE :

#DXY moved very correctively to the upside and retested the resistance again. Index formed the resistance now, and expected the drop from here. A Drop will lead in good market movement to the upside. Alternatively, A Daily Candle Closure, will lead the good correction in the market.

Accessing the STH Cost Basis for Ethereum as well, which has provided support on several occasions in this uptrend already. Ethereum's STH-MVRV is trading at a very slight premium at the moment, which could suggest that spot prices are very close to the cost basis of recent buyers, who may panic should the market experience downside volatility.