Day: November 19, 2023

Bitcoin Network Fees Skyrocket Nearly 1,400% in November As Ordinals Inscriptions Dominate Top Blockchain – The Daily Hodl

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[ad_1] Bitcoin (BTC) network fees are seeing a massive surge in November as demand for ordinals floods the leading blockchain. Data from CryptoFees.info finds that BTC’s transaction fees skyrocketed from $779,549 at the start of the month to a peak of $11.63 million on November 17th, an increase of 1,391%. The number has slightly retraced and is hovering around the $11.559 million mark. Bitcoin ordinals allow users to inscribe digital assets such as images and videos to a single satoshi, or an individual unit of BTC, to create the equivalent…

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Bitcoin nears pre-halving ‘target zone’ toward $50K BTC price

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[ad_1] Bitcoin (BTC) is nearing a key Fibonacci retracement level which could mark the top of its “pre-halving rally.” That is according to popular social media trader Titan of Crypto, who on Nov. 19 reiterated a pre-halving BTC price target of up to $50,000. Trader: $39,000 is pre-halving BTC price target range floor Bitcoin faces stiff resistance sliding back to the $40,000 mark; several attempts to crack it have failed in the past week. As Cointelegraph reported, the area immediately below also holds significance for aggregate market profitability, with $39,000…

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Trader Who Called 2021 Crypto Collapse Says Sustainable Bitcoin Explosion to All-Time High Technically in the Cards – The Daily Hodl

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[ad_1] The trader who accurately called the crypto market crash of 2021 says that Bitcoin’s price action is suggesting that a sustainable rally back to its all-time highs could be underway. Pseudonymous analyst Dave the Wave tells his 143,000 followers on the social media platform X that a new push to BTC’s current all-time high is possible as weekly momentum remains strong. Dave the Wave often uses his own version of logarithmic growth channels (LGC) which aim to forecast market cycle tops and bottoms while filtering out short-term volatility and…

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Yearn Finance (YFI) price dives 45% in hours– what happened?

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[ad_1] Yearn Finance (YFI) price fell more than 45% to below $9k on November 18. The decline occurred amid market manipulation claims, including from the dYdX team. YFI price was around $9,260 on Sunday morning. Yearn Finance (YFI) is changing hands just above $9,260 on Sunday morning, November 19. The YFI token’s 45% slump from highs of $15,548 to lows of $8,918 on Saturday wiped out all of last week’s gains. YFI/USD had climbed by over 170% over the past month. YFI price nosedives – what happened? Yearn Finance’s steep…

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dYdX Utilizes $9M Insurance Fund Following Alleged Targeted Attack on YFI

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[ad_1] The decentralized exchange (DEX) dYdX experienced a significant financial event on November 17, requiring the use of its insurance fund. The exchange had to cover $9 million worth of customer liquidations following a dramatic market fluctuation. Antonio Juliano, the creator of dYdX, labeled the event as a “targeted attack,” suggesting a deliberate attempt to destabilize the exchange’s financial stability. Before November 17, the price of Yearn Finance (YFI) token surged by over 170%, only to plummet by 43% on the day of the incident. This abrupt price drop has…

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Crypto Analyst Predicts Imminent Rally for Shiba Inu and One SHIB Rival, Updates Forecast on Bitcoin – The Daily Hodl

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[ad_1] A widely followed crypto trader believes that top memecoin Shiba Inu (SHIB) is poised to print massive gains in the coming days. Analyst Kaleo tells his 605,700 followers on the social media platform X that Shiba Inu looks primed for a run-up after breaking above a horizontal resistance and retesting it as support. “I think by the time the candles reach the far right side of the screen, we’ll see some green candles hitting the green box.”  Source: Kaleo/X Looking at the trader’s chart, he seems to predict that…

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