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Brace For More Downtrend: 15% Of Bitcoin Supply Is Now In Loss

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Data shows around 15% of the total Bitcoin supply is now in loss, a value that has historically been sufficient to push the price down.

Percentage Of Bitcoin Supply In Profit has Fallen Down To Just 85%

As per the latest weekly report from Glassnode, the total BTC supply in profit has fallen down to just 85% this week, meaning that 15% of the supply is now in loss.

The “percent supply in profit” is a Bitcoin indicator that highlights the share of the total supply that’s currently in profit.

The metric works by looking at what price each coin in the chain was last moved at. If this price was less than the current price, then the coin is said to be in profit. While if this price was higher, then the coin is considered to be in loss.

If the indicator attains very high values (more than 95%), then a Bitcoin market top may follow soon. But if the metric’s values are low enough (less than 5%), then a bottom could be formed instead.

Related Reading | IMF Report On El Salvador Is Positive… Except For Everything Bitcoin-Related

Now, here is a chart that shows the trend in the value of the percent BTC supply in profit over the past year:

Looks like only 85% of the BTC supply is now in profit | Source: The Glassnode Week Onchain (Week 47)

As the above graph shows, the percent supply in profit has severely fallen off in the past week as Bitcoin’s price declines. Now, around 15% of the total supply is in loss.

The report mentions that the 85%-90% zone may be considered as a “bull and bear transition zone.” There are two instances of the indicator entering this zone previously in the chart.

Related Reading | Inverse Signals: Why Bitcoin Weakness Is Attributed To Dollar Strength

The first was when the May Bitcoin crash happened, and the second coincided with the El Salvador Day crash. The report notes that a value of 85% is enough to push the price of the crypto down if no higher value is clamed in a reasonable timeframe, similar to what happened during those instances.

BTC Price

At the time of writing, Bitcoin’s price floats around $56.8k, down 6% in the last seven days. Over the past month, the coin has lost 5% in value.

The below chart shows the trend in the price of BTC over the last five days.

Bitcoin Price Chart

BTC's price slides down in the last few days | Source: BTCUSD on TradingView

Over the last week, Bitcoin has mostly consolidated below the $60k price mark. Currently, it’s unclear when the coin may recover, but if the percentage of supply in profit is anything to consider, BTC may decline even further.

Featured image from Unsplash.com, charts from CryptoQuant.com, TradingView.com
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HeliumRent: Revolutionizing the Helium Mining Sector on a Global Level

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HeliumRent: Revolutionizing the Helium Mining Sector on a Global Level

Several radio networks worldwide belong to HeliumRent, a global scale organization of radio stations. More than 83 nations are covered, and new live hotspots are added daily mining

The firm’s goal is to provide consumers with a steady stream of revenue while limiting risk and providing high-quality service that can be automated and simplified so that they may focus on their core business. Its goal is to increase customers’ profit margins via the deployment of additional hotspots.

In the short time since HeliumRent was launched, hundreds of users have taken advantage of renting out portions of the Helium network through Helium mining. Moreover, HeliumRent provides its clients with the option of renting out existing hotspots to increase their market share. A predetermined proportion of the rental fee is paid to the client each day and may be withdrawn at any time.

HeliumRent has created a global network of radio stations that cover helium hotspots. Hosts may earn Helium by connecting to Helium’s peer-to-peer wireless network, The People’s Network, using the Helium hotspot. Proof-of-coverage challenges and observing proof-of-coverage challenges are two ways that hotspot hosts may earn HNT.

The Association of Radio Networks has built its network quicker and stronger with the influx of funds. Delivery timelines for gadgets like Bobcat and Sensecap are substantially quicker and do not often take up to 10 months, as with many other companies. Thus, largely reducing the wait time for customers who want to start generating revenue.

From $0.24 in June 2020 to $46.23 in November of 2021 at the ATH, the price has risen steadily and is presently hovering around $30.

Customers may earn Helium (HNT) by providing miles of low-power network coverage for billions of devices by implementing a simple strategy on their dashboard through Helium mining. Khosla Ventures, FirstMark Capital, GV (previously Google Ventures), HSB/MunichRe Ventures, Union Square Ventures, and Multicoin Capital are among the VC firms that have invested in Helium mining. Helium Network Records More than 450,000 hotspots around the globe and have a strong community of early adopters who have already joined the network.

Furthermore, there are a variety of plans to choose from. The more money a consumer spends on Helium, the more money they receive back. It’s possible to develop a strategy that works best and choose the plan accordingly.

A rising number of companies are looking at Helium as an alternative to 5G in the IoT (Internet of Things) age. It’s no surprise that more and more individuals are becoming engaged directly in the Helium mining sector as Firms are gradually using IoT technology like Lime, Bird, or car-sharing companies like Car2Go or Uber. Additionally, this network is also deployed for car-sharing services and smart city technology.

Disclaimer: The opinion expressed in this chart solely author’s. It does not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.

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Downsides of traditional stock photo platforms and the perfect solution

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Downsides of traditional stock photo platforms and the perfect solution

Let’s do a little role-play. 

Character No 1: a photographer.

Say you’re a struggling (or an established) photographer that is looking to earn some money from your content. Your first idea may be to try selling it on a stock photo platform, such as Shutterstock, Getty Images, Deposit Photos, and others.

They license photographs for specific purposes. Every time someone purchases a photo from a stock media platform, the photographer gets a certain share of the revenue. The amount of this share is set by each platform and listed in its terms.

Character No 2: a customer.

Now let’s say you want to buy a photo (or more) to use in various kinds of marketing and business-related projects. Whatever you need, chances are, you’ll find it on a stock photo platform.

Sounds like a sweet deal, doesn’t it? 

It is for the platforms. Not so much for the creators and end-users.

A not-so-pretty picture

Despite seeming like a convenient way to get their hands on some nice-looking photos, traditional stock photo platforms carry some disadvantages that may not be obvious at first glance. These downsides include:

1) Mounting costs

Stock photography pricing is often complicated for the buyer and can get out of control if they’re not careful. Depending on how they want to use the photo(s), the prices can add up quite quickly. Sometimes, these prices may even come close to what a photographer would charge to go out and take photos themselves.

The trouble begins with the licensing fees, which can end up being very high depending on the quality of the image(s) and how often the customer is planning on using it/them. Some licenses even have time limitations, so after a certain period, they’re worthless to the user or require additional payments to continue using the photos.

Some of the popular stock photo platforms offer subscription-based pricing models which vary in price and length (e.g. monthly, bimonthly, annual, and so on). Unfortunately, they are limited to a certain number of photographs the user can download, which is why they’re not such a good idea if they need hundreds. On top of that, the price of subscription packages grows with the longer duration and the need for a higher number of photographs.

So if the customer suddenly realizes their already purchased subscription isn’t enough for their needs after all, they will have to cash out for a bigger, longer, and more expensive plan.

2) Commercial use limitations

Sometimes, the end-user has to adhere to some pretty restrictive rules in terms of using the stock photos. Usually, these rules are listed in some very fine print so the user has to make sure to read all the license restrictions carefully and fully understand them before purchasing.

This is especially true if they’re planning on using stock photographs for advertising as some photos are only allowed for editorial use and not marketing purposes. They may also not be able to use the stock photos on products they plan to resell, like mugs and T-shirts they designed (yes, even though they designed them).

If they want to use these photos in items for resale, they will have to get an extended (and typically more expensive) license. Here and here you can check out the typical license types offered and restrictions on stock photo purchases imposed by a traditional stock photo platform. 

3) Less creator control means less revenue

Currently, listing on large centralized stock photo platforms is the only way for photographers to get their content published and earn some income from it. Unfortunately, by doing so, they are forced to give up their ownership rights over them, losing control over how the photos are sold and priced.

As a result, photographers are selling their ownership rights at prices that are substantially lower than what the photo may actually end up generating. The flashy claims of billions of $$$ paid to contributors paint the wrong picture. In fact, the photographer may receive as little as 15% of the total revenue generated by their content.

One of the examples of this is Shutterstock. Introduced in 2020, its new earnings structure (the old one wasn’t very lucrative for photographers to begin with) slashed content creators’ earnings by half or more. Currently, you start by earning only 15% of the image price. For a photo selling for $12, this means you’ll only earn $1.80.

The company increases your earnings to 20% after 100 of your photos are sold. If you hope to earn at least 35% from your photographs, you’ll have to wait for this number to surpass 2,500. Other platforms have similar rates.

Such difficult starting positions and hard-to-reach thresholds are often enough to drive away many photographers with great potential.

Building blocks of better stock photo future

So what could be the ideal solution to the problems plaguing the stock photo market? 

The answer is simple – blockchain.. And for many good reasons. 

Using the peer-to-peer exchange system facilitated by this technology would allows content creators to sell directly to the consumer on a one-stop stock content marketplace. Such a system is already in development by Envision.

This way, the outdated centralized middle-man is removed from the equation, which also removes hefty fees and the need for the creator to forfeit their ownership rights. Finally, the power can be placed back into the hands of content creators who can set the pricing of their content themselves and receive the full commission – right where it belongs.

For the buyer, this means a more straightforward procedure and the assurance that the costs won’t spiral out of control.

Disclaimer: The opinion expressed in this chart solely author’s. It does not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.

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Phemex to List Smooth Love Potion (SLP) As Their Latest Metaverse Endeavor

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Crypto trading and investment platform Phemex is making strides to deliver on its mission to build and support the metaverse. The full-service crypto exchange was launched in 2019 and has already built out a bevy of tools. In a short amount of time, Phemex is already approaching 100 total spot and contract pair offerings. Now, the platform continues to show its support of the metaverse by listing the Axie Infinity-based token SLP. In addition, Phemex is hosting a special Metaverse edition of their popular Grab a Coin Campaign where users can join to win SLP.

The platform’s latest “Choose Your Reality” campaign kicked off its focus on metaverse-related projects. Now Phemex expands upon that initiative by listing the Axie Infinity-powered token, Smooth Love Potion (SLP). The move comes after Phemex already introduced support for two other metaverse-based tokens in recent months: native Axie Infinity platform token AXS, and Decentraland’s MANA token. The exchange has also introduced their own virtual reality GameFi product and hosts a deep-dive brief on everything you need to know about Axie Infinity on the Phemex Academy.

The announcement to support SLP shows Phemex’s prolonged interest in metaverse-based products and platforms. SLP is an ERC-20 token that is earned by playing Axie Infinity and winning battles against other players. It can be used to breed new Axies. Additionally, SLP can act as incentives for Axie Infinity players who reach certain levels, and SLP can also be used to buy and sell items outside of Axie Infinity. While SLP had to be previously earned through in-game battles, increased accessibility of SLP courtesy of Phemex will allow the Axie environment to grow and develop even further.

Axie Infinity has served as the ‘face’ of play-to-earn thus far, as the landscape continues to grow and expand. 2021 proved to be a massive growth year for Axie Infinity and many other play-to-earn and metaverse products. This bodes well for the longevity and innovation in our constantly-growing digital worlds. Through its SLP listing, Phemex shows clear belief in the emergence of the metaverse, as well as other relevant initiatives like GameFi, play-to-earn, and NFTs.

 

 

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