#BTC gradually started moving up towards the strong resistance area. Weekly had a decent closing too with a rejection too. So we its officially a range now and need to see a break of these area in Daily TF and eyes on upcoming Weekly closing too.

#US30 UPDATE :

#US30 entered into a consolidation and last week it made a new All Time Highs. Its was still expected to have a drop to 41,600 area or there should be a Daily closing above the range to go for buys and expect a new #ATH too.

The Bitcoin Realized Cap, measuring cumulative network capital flow, has plateaued at $622 billion over the last two months. This follows six months of range-bound, downward market movement. The stagnation indicates that most Bitcoin transactions are occurring near original acquisition prices, suggesting a market equilibrium with minimal new capital inflow or outflow. This trend reflects reduced volatility and possible investor uncertainty in the current market conditions.

What are storage miners?

Storage mining is a type of cryptocurrency mining that allows miners to receive rewards for storing data on their personal servers or devices. One of the main concepts of storage mining is that miners have to dedicate a certain amount of storage space to become eligible to be a node of the blockchain network.

One of the most notable cryptocurrencies that depends on storage mining in its operations is Filecoin. The Filecoin blockchain relies on the storage capacity of its miners in order to select eligible nodes. These nodes then serve as transaction verifiers and miners of new blocks which are added to the chain.

Entrusting the node-selection process to a storage-based consensus mechanism is somewhat experimental in the cryptocurrency industry. Most popular blockchains rely on either proof-of-work (PoW) or proof-of-stake (PoS) consensus mechanisms. However, blockchains like Filecoin utilize storage power as a measure for node eligibility. Node validators are selected based on the amount of storage power they can offer to the network. In return, nodes or storage miners receive mining rewards. In the case of Filecoin, storage miners receive FIL tokens for successful block creation.

The storage that miners dedicate to the network is utilized by users of the Filecoin blockchain and system. This is why the consensus mechanism requires all approved notes to be able to prove that they have the storage power needed and that they have an updated copy of the whole system on their servers at all times.

Interestingly, storage miners can choose whether they would like to dedicate cloud storage or hardware storage. This makes it incredibly easy for storage miners to acquire additional storage power and move up in node rankings.

Storage-based consensus mechanisms are rarely utilized in the blockchain industry, however, Filecoin is proof that this system can be successful. Not only that, the highly customizable requirements regarding the type of storage power requested by the network allow storage miners a significant amount of flexibility. This flexibility in node requirements is not usually present in more established consensus mechanisms.

#FIDA/USDT here is gearing up for the big jump from horizontal support 🚀

Buy on MEXC: https://www.mexc.com/exchange/FIDA_USDT

Buy on Binance: https://www.binance.com/en/trade/FIDA_USDT

Short term targets: 10%-30%-50%

#FIDA is ready to explode! 🚀

It’s on very strong weekly support in #BTC pair

We’ve seen 20-30% jump from this range ✍🏻

Don’t sleep on it! 🔥

Buying #FIDA now🚀

Accumulation is in full swing, and the pump is inevitable.

This one's set to explode🫡

Here's the Analysis of #CELO :

#CELO is been bounced from the major support zone of $0.62 - $0.64 and now moving within a small channel pattern. Price formed a good support zone around $0.73 and expected to push from here. The next resistance level is at $0.88 and 0.97.

#BTC missed out the Strong Resistance Area and dropped back to the last structural support zone. We can expect some sort of movement by newyork market open.

#GOLD UPDATE :

#GOLD failed to go into deeper pullback and forming a Triangle Pattern now. Price is on a Support zone now and might gonna break it sooner, so incase of close below we can expect lower moves towards the $2600 area.

The Net Realized Profit/Loss metric, representing daily changes in Bitcoin's onchain capital flows, currently shows a balance between profit and loss forces. This results in minimal net flow, with oscillations around the zero point. Such equilibrium suggests a stabilizing market, similar to the August-September 2023 period. This balance indicates that coins moving in profit roughly equal those moving at a loss, reflecting a current state of market equilibrium without significant capital creation or destruction.

What Is Substrate?

Substrate is a web app development framework developed by Parity Technologies that allows software developers to create decentralized systems. Substrate features a secure and scalable blockchain logic, a rich user experience for any chain, compatibility with the Polkadot ecosystem and support for other smart contract platforms such as the Ethereum Virtual Machine (EVM).

Substrate showcases an efficient database that developers can take advantage of in running and maintaining blockchain-based applications. It also supports a modular peer-to-peer networking stack capable of faster transaction throughput between blockchain networks and their participants. Moreover, it offers functions that can be configured according to the needs of an application, including transaction queues and runtime libraries.

Projects built using the Substrate can be easily deployed on the Polkadot ecosystem, helping them take advantage of the growing network for wider application adoption. Substrate also works flawlessly with any browser or desktop device.

As of now, Polkadot is one of the largest blockchain projects that utilize Substrate as the backbone of their network since it is the first protocol built on its framework. It needs to be noted that Substrate is not part of Polkadot and that anyone can build new blockchains that have nothing to do with the Polkadot blockchain. However, their DApps would still be compatible with Polkadot since they are built on the same framework. By and large, Substrate has been utilized mostly to build projects that advance the Polkadot ecosystem.

Here's the Analysis of #ARKM :

#ARKM moving with in the flip zones of around $1.33 - $1.36 and $1.69 - $1.75 and moving with the triangle pattern too. Its a Pretty tradable range of 20% so you can take LTF buys with added confluence towards the resistance area.

#BTC forming a small wedge pattern and now on a resistance area. LTF flip can drive the price up in short-term and towards the strong resistance too.

#CELO have a break below and started forming a small range too. Now, price action is very clear and expected to move in the direction with clean candle closure.

The Realized Profit and Loss metric serves as a proxy for market demand, indicating sellers' willingness to transact at a premium or discount. Since the March all-time high, the absolute sum of Realized Profit and Loss has declined significantly. This suggests a notable reduction in buy-side pressure within the current price range, implying decreased market demand or investor enthusiasm. The trend points to a cooling market sentiment, with fewer sellers willing to part with their coins at a profit and fewer buyers willing to acquire coins at a loss.

What Is Succinct Proofs of Random Access (SPoRA)?

Succinct Proofs of Random Access (SPoRA) is a consensus mechanism used to confirm transactions and validate blocks on the Arweave decentralized network. Instead of relying on energy-intensive computational work like Bitcoin does with Proof of Work, Arweave uses SPoRA to verify blocks and confirm transactions in a more efficient manner.

SPoRA allows miners on the Arweave network to prove they have access to random historical data. This eliminates the need for repetitively solving cryptographic puzzles in order to add new blocks to the chain.

Why Is SPoRA Important for the Arweave Network?

Arweave aims to build a novel decentralized data storage protocol that allows permanent and immutable data storage. The goal is to build a sustainable and long-lasting data archive - like a permanent internet.

To make this vision a reality, Arweave needs a way to validate blocks and confirm transactions that is reliable and secure but does not require massive amounts of computational energy. This is where SPoRA comes in.

SPoRA allows Arweave to be extremely energy-efficient compared to proof-of-work networks. This is essential for ensuring the sustainability and decentralized nature of the Arweave network over the long term.

How Exactly Does SPoRA Work Under the Hood?

The SPoRA protocol requires miners to competitively prove that they can access random segments of historical data that are spread across the Arweave network.

Each time a miner makes a guess for the hash value to create a new block, SPoRA forces them to read a small chunk of old data and its proof from their own stored version of the Arweave blockchain.

If the miner has the correct data, their guess is considered valid. This allows the network to reach a consensus and confirm transactions without needing to solve intensive computational puzzles.