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Despite New ATH, Bitcoin Exchange Reserves Continue To Decline

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Despite the fact that Bitcoin has made a new ATH above $66,000, the exchange reserves have continued their trend of decline.

Bitcoin All Exchanges Reserve Continues To Go Down

As pointed out by a CryptoQuant post, the Bitcoin all exchanges reserve continues to show a downtrend despite the crypto making new all-time highs (ATHs).

The all exchanges reserve is a BTC indicator that tells us the total amount of coins deposited on centralized exchange wallets.

When the value of the metric shows an increase, it means investors are sending more of their Bitcoin to exchanges. This could imply that there is a selling pressure in the market as holders usually move their crypto to exchanges for withdrawing to fiat, or for purchasing altcoins with them.

Decreases in the indicator, on the other hand, suggest the supply for BTC is shortening as investors are taking their coins off exchanges. Such a trend could mean there is a buying pressure in the market and may prove to be bullish for the price.

Here is a chart that shows the trend in the Bitcoin all exchanges reserve indicator over the past couple of weeks:

Bitcoin reserves seem to be trending downward | Source: CryptoQuant

As you can see in the above graph, while the price of BTC has shot up recently as the crypto makes new ATHs, the indicator’s value has sharply fallen down.

Related Reading | As Bitcoin reaches New ATH, Another Promising Cardano Project RavenDex unveils Their DEX front Demo, Kicks Of Seed Sale To Early Investors

What this implies is that many investors still haven’t tried to realize their profits. They have rather withdrawn their BTC and took it to personal wallets for hodling.

Below is another chart, this time for the Long-Term Holder SOPR indicator, which shows the degree of realized profits by investors who have owned their coins for more than 155 days.

Bitcoin Long-Term Holder SOPR

BTC SOPR has been minimal recently | Source: CryptoQuant

As you would expect based on the reserves, the long-term holder SOPR has low values right now, showing that long-term investors still haven’t moved to realize their profits.

Related Reading | Bitcoin Futures ETF Exceeds Expectations, Trades $1 Billion On Day One

Even though BTC has already made new ATHs, it would seem holders are still expecting the price to appreciate further before they begin to harvest their gains.

BTC Price

At the time of writing, Bitcoin’s price floats around $65.7k, up 14% in the last seven days. Over the past month, the crypto has gained 51% in value.

Here is a chart showing the trend in the price of BTC over the last five days:

Bitcoin Price Chart

Bitcoin's price continues to make new ATHs as the price flies past the $65k mark | Source: BTCUSD on TradingView
Featured image from Unsplash.com, charts from TradingView.com, CryptoQuant.com
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Personal Computer and NFT of Wikipedia Founder Set Ready for Auction

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Personal Computer and NFT of Wikipedia Founder Set ready for Auction
  • Jimmy Wales used the computer and NFT is ready up for auction.
  • The auction will support fund Wales another project WT.Social project.
  •  The two lots of computers and NFT are for auction on December 15.

Wikipedia founder, Jimmy Wales personal computer, as well as the Non-fungible Token (NFT) of the first edit, is ready up for auction.

Furthermore, the personal computer, used by Jimmy Wales for programming the reference resource 20 years ago will be auctioned off, along with an NFT commemorating his first edit on the platform, as per auctioneers.

Moreover, Strawberry iMac, utilized by Jimmy Wales for development and research at the time of the website’s launch on January 15, 2001. According to the auction house Christie’s in charge of the sale, the auction will begin Friday in New York.

Henceforth, Christie’s auction house specialist Peter Klarnet mentioned, the next lot is for an NFT. It is a unique digital artifact that transfers ownership through blockchain technology. Generated by Wales of Wikipedia’s debut onscreen image when he uploaded the first text, “Hello World”.

As per the auction house, the non-fungible token (NFT), will be provided in JPEG format. It will be interactive, the buyer will be able to alter or edit and make some changes to the page. This may reset with a timer to revert to its original state.

Even more, the part of the proceeds from the auction will support fund Wales another project WT.social project. A non-toxic alternative social media network using an advertising-free model.

Therefore, the two lots of personal computers and NFT are for auction on December 15. Peter Klarnet stated, with Christie’s hoping they will sell for hundreds of dollars. The non-fungible tokens (NFTs), found to be the favorite art form of auction houses and the art markets for some collectors and investors.

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Dogs on Solana: Doge Capital Announces Doge NFT Staking Program. Users can Earn $DAWG Daily

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Dogs on Solana: Doge Capital Announces Doge NFT Staking Program. Users can Earn $DAWG Daily

Guwahati, India, 4th December, 2021, Chainwire

When the world is fixated on Apes, whales and other NFTs, the most famous of all memes, the one that started a whole new revolution within cryptocurrencies, remains largely ignored. Doge Capital’s exclusive NFTs tackle this issue and at the same time, allow for its NFT holders a whole new income stream through its staking program that offers daily $DAWG tokens as a reward.

Woof Club

Doge Capital has made a limited quantity of the NFTs, each is a cute pixel art (24×24 pixel) that belongs to the exclusive 5,000 NFT collection. To join the Doge Capital Woof Club, a user must hold at least one of these NFTs. Each NFT and its art representation is ensured to be unique through the use of generative coding, where a computer program creates random variations, making each piece one of a kind.

While the NFTs will be making their own worth in the NFT sphere, there is a lot more to it than just an increase in value. Doge Capital is offering a staking program in which these NFTs can be put to good use. Staking will lead to a consistent income stream through the release of Doge Capital’s utility token, the $DAWG. Apart from this, the Doge Capital platform will also be backing its users through the procurement of other NFTs. Every NFT acquired by Doge Capital will be put in the WoofBank, a community wallet. Since users will be holding Doge NFTs and $DAWG, they will be the true owner of the bank.

How to Stake to earn $DAWG

$DAWG, the utility token of the platform, is more than just a digital asset. Already listed on Raydium and Dexlab, the token is liquidable and hence, a perfect source of earning for Doge Capital users. While users can go to the exchanges and buy the $DAWG token, they can also invest in Doge Capital NFTs and its additional airdrops, and stake these to earn free tokens.

When staking is live, users can head over to the staking section on the Doge Capital website and decide which Doge NFT they would like to commit. 1 Doge NFT staked means 5 $DAWG token reward per day, while an airdropped NFT will mean 1 $DAWG per day.

It is advisable to stake both as claiming the rewards requires a user to have both committed. Once the stake is farmed, 1 airdropped NFT will be burnt (the Doge NFT will remain unaffected). This will encourage users to stake for longer periods and bring about stability to the $DAWG token.Doge Capital will continue to drop supplementary NFTs so that airdropped NFTs are available for users to burn should they want to claim their rewards multiple times.

The $DAWG Tokenomics

Total Supply : 30 Million

Circulating Supply : 1.5 Million (Circulating Supply will remain the same until staking is live)

The distribution of 30 Million tokens is as follows :

1% – Airdrop to Doge Capital holders who have delisted their Doges from marketplaces

5% – Initial liquidity on Raydium

10% – Reserve Liquidity (Liquidity to be added to the pool in the future)

10% – Team & Advisors (This will be distributed monthly over 20 month. Therefore, distribution per month is just 0.5%)

14% – Marketing

60% – Staking Rewards

About Doge Capital

Doge Capital believes in the power of the people and the WoofDAO is built just for that. The DAO will let users decide as a community on the way forward. For example, should the users like to liquidate NFTs in the WoofBank or distribute it amongst themselves? The decision is to be made by them. $DAWG offers exclusive access to future Doge Capital activities and events, including limited merchandise. The token acts as a medium of exchange within the Doge Capital ecosystem and will be the only way to pay for the different services and products offered. 

For more information about Doge Capital, visit their website,Follow Doge Capital on Twitter and Join their Discord Channel 

About the Team

Dogefather – Lead Developer:

Twitter : https://twitter.com/thecryptofunnel

Instagram : https://www.instagram.com/cryptofunnel/

GomuGomuNo – Marketing :

Twitter : https://twitter.com/thecryptohike

Instagram : https://www.instagram.com/cryptohike/

Thiccdoge – Art:

Twitter : https://twitter.com/Thethicdoge 

Doge Capital is the source of this content. This Press Release is for informational purposes only. The information does not constitute investment advice or an offer to invest.
 

Contacts

Co-Founder

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Bitcoin Tanks to Two Months Low Amid Global Market Fall

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Bitcoin Tanks to Two Months Low Amid Global Market Fall
  • The cryptocurrency has subsequently regained some of its losses.
  • Cardano, Solana, Polygon, and Shiba Inu all suffered significant losses.

Investors’ pre-Christmas risk-aversion has wreaked havoc on global markets. Right from stocks to cryptocurrency. Bitcoin became the latest cryptocurrency to succumb to severe selling pressure. Falling by as much as $10,000 in an hour to settle at $42,000 earlier on Saturday.

BTC/USDT: Source: TradingView

The cryptocurrency has subsequently regained some of its losses and was last trading at $47,661.75, down more than 16%. Ethereum, the second most valuable cryptocurrency by market capitalization, had a similar sell-off, falling about 15% to $3,905.

Multiple Factors Behind the Slide

A risk-off sentiment that has seized global markets in the aftermath of the release of a revised COVID-19 version and US Federal Reserve Chairman Jerome Powell’s unexpected shift toward hawkishness triggered the collapse.

Powell’s support for a more aggressive reduction of the US Federal Reserve’s bond-buying program, which would reduce systemic liquidity and tighten financial conditions compared to the historically lax circumstances of the previous 21 months, is seen as a negative for market speculative activity.

Euro Pacific Capital’s chief economist and global strategist, Peter Schiff, said on Twitter:

“Risk assets like stocks and Bitcoin are tanking simply because Powell hinted the Fed might wrap up the taper a couple of months early and the first 1/4 point rate hike may also come a bit sooner.”

Cardano, Solana, Polygon, and Shiba Inu all suffered significant losses in the cryptocurrency market, falling between 13 and 20 percent.

According to analysts, a large portion of the selling pressure in the Bitcoin market came from the cash side. Exacerbated by dealers’ highly leveraged holdings in Bitcoin derivatives. Furthermore, prices immediately fell to $42,000 since traders’ stop-loss orders on their derivative contracts were invoked. According to CoinMarketCap, the Bitcoin price today is $47,661.40 USD. And a 24-hour trading volume of $60,141,042,990 USD.

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