#BAKE formed the support on Daily TF and clearly moving up. Market is also stable and moving up, so now it look good for buys till a open of Resistance Area of $0.539. Moreover, it falls back to support or lower then the final support will be at $0.35.

The overall impact of the Dencun upgrade on ETH supply remains uncertain due to interconnected changes:

- Moving Layer-2 anchoring transactions to the blob data structure reduces fee congestion by about 10%, potentially leading to less ETH burned.
- Lower fees on Layer-2s may encourage increased usage of Ethereum's mainchain and scaling solutions, possibly increasing fee pressure.
- The rate of issuance growth is expected to decrease as fewer new validators can join the staking pool.

Ethereum has undergone six major updates, not all affecting ETH supply directly. However, recent upgrades have slowed ETH supply growth, with a slight decrease post-Merge. The chart below illustrates these upgrade events and their impact on ETH circulating supply.

What Is Offline Storage?

Offline storage refers to the storage of private keys of an account and the funds contained within in an offline device, which means it does not maintain a constant and continuous connection with the internet. This is done to prevent unauthorized and/or malicious access to the device, which can result in theft or misuse of user funds. Offline storage ensures that attackers have no way of accessing the device, making it theoretically impossible to steal crucial and sensitive financial information.

This is opposed to online storage, in which data is kept on devices with an active connection to the internet. Despite encryption and other security measures, there is still a possibility of bad actors accessing the private keys of online storage by bypassing or breaking security measures since the device can be attacked without any time constraint.

In contrast, offline storage devices still come online for a brief period when a transaction has to be sent to the network. However, most go offline as soon as it’s done. Even when a cyber thief is able to access a transaction, the thief would not be able to view the private key used for it. This makes it tremendously hard, if not nearly impossible, to attack the device in this short time window.

Typical examples of offline storage devices are hardware wallets like Ledger, Trezor, KeepKey, as well as offline devices such as CDs, USBs, offline computers, etc.

#BTC Reclaimed $70,000 again 📈

Here's the Analysis of #SNX :

#SNX is been moving within a parabolic move in a mid-term period and building liquidity below the a Major Resistance area around $5.36. Well, price is pushing aggressively with the #BTC hitting #70,000 mark again. so it wait for wait for a retracement or flip above the zone before any sort of buy and yes shorting would be low probable.

#BTC didn't have the retest and made its flip above the neckline from the Head & Shoulder Pattern. Currently, price is retesting back the zone as support and now ready to move higher. Daily Market Structure Turned Bullish, so expected to have it continuation.

#BTC.D UPDATE :

#BTC.D (#Bitcoin Dominance) forming a triangle pattern and made a continuous ranging below the Major Resistance Zone of 54.50% - 54.60%. A new Support is build at 53.00% - 53.15% where index kept on bouncing. A break of either side will decide the trend in altcoins but the only thing is #BTC either slowly pushing up or remain stable.

Funding Rates goes negative this coming week. Now, this might be catalyst that will push the price this week.

What is #Funding Rates ?

#Funding Rates refer to the fees that are paid between #traders on perpetual #futures contracts. Perpetual futures contracts are a type of #derivative contract that allows traders to bet on the future price of an #asset without actually owning it.

Funding Rates are used to maintain the price of a #perpetual futures contract to the price of the underlying asset. These fees are typically paid between #buyers and #sellers of the contract and are used to ensure that the price of the #contract stays close to the actual price of the underlying asset.

The Funding Rate is calculated every fixed period (usually every eight #hours) and is paid by traders who are on the opposite side of the contract. For example, if the Funding Rate is #positive, long positions (buyers) will pay short positions (sellers). Conversely, if the Funding Rate is #negative, short positions (sellers) will pay long positions (buyers).

The Funding Rate is determined by the difference between the current price of the perpetual futures contract and the price of the underlying pair, as well as by the current market #demand for the contract. When there is a high demand for #long positions, the Funding Rate may be positive, and when there is a high demand for #short positions, the Funding Rate may be negative.

Funding Rates are important for traders to consider, as they can have an impact on the #profitability of their trades. A high Funding Rate can eat into profits for traders who #hold their positions for an extended period, while a low Funding Rate may be an #opportunity for traders to profit.

Here's the Analysis of #HOOK :

#HOOK is been kept moving back and forth between the Major Resistance zone of $1.48 - $1.52. Price now testing the zone as major support zone and expected a bounce from here. Price formed a new a resistance zone around $1.640. Accumulation can be good here to go.

#BTC did moved alot from the expected area but we can see it kept on holding the support zone. Price making multiple retests and trying to push ahead. This week, might have the slightly bullish close, so expected a push from here.

#TOTAL MARKETCAP UPDATE :

#TOTAL MARKETCAP Looks healthy in which and bullish as of now after the strong fluctuation in the market, Index now stuck between the zone of support around $2.40T - $2.44T and Resistance area of $2.63T - $2.65T. Breakout will resume the extreme greediness in the market and continue the bullrun.

#Bitcoin market had reached several statistically significant levels with respect to Unrealized profit held within the supply. Metrics like MVRV and the AVIV Ratio reached +1 standard deviation from their long-term means.

Past instances have historically been points of interest, where the market finds a degree of resistance, and some investors start to take profits and chips off the table.

What is #MVRV Ratio ?

The #MVRV (Market Value to Realized Value) score is a metric used to assess the #valuation of a cryptocurrency by comparing its market value to its realized value. The #MVRV score helps to gauge whether a cryptocurrency is overvalued or undervalued based on its #historical price movement.

The market value of a #cryptocurrency refers to its current price multiplied by the total supply of #coins in circulation. On the other hand, the realized value takes into account the price at which each coin last moved on the #blockchain, essentially measuring the average price at which investors acquired their holdings.

So what does that Indicate ?

#MVRV Values > 3.5 has generally served as a strong signal for late stage #bull cycles, and heightened probability of heavy #distribution or simple indicate a potential Market Top.

#MVRV Vales < 1.0: indicates that a large cross-section of the #supply is near break-even, or held at a loss. These low values have typically provided strong signal of market capitulation and late stage #bear accumulations or Simply Indicate the Market Bottom.

#Fidelity submits S-1 form for Spot #Ethereum #ETF, which includes Staking.

Here's the Analysis of #ENJ :

#ENJ is been correcting itself and kinda ranging too. Price broke the trendline showing signs of bearishness and expecting to wipe out the liquidity below and tap-in to support zone of$0.40 - $0.41. If you're looking buys then wait for the zone or a flip above $0.545 will be good for longs too.