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ZEBEDEE Launches NBD, Not-for-Profit to Develop Open Source Bitcoin – Bitcoin Magazine

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ZubaidiBitcoin Games Inc., announced No Big Deal (NDB), a non-profit organization dedicated to promoting open source development for Bitcoin and the Lightning Network, in an issue submitted to Bitcoin Magazine.

“NBD does not sell anything, does not provide services, and does not support products,” said Andre Neves, co-founder and chief technology officer of ZEBEDEE. “It just writes the code and gives it to the world how to deal with it as they please.”

At the moment, NBD has already contributed to a number of projects. For example, the not-for-profit provided code for Open Bitcoin Wallet, which is an advanced non-custodial Lightning wallet that can support hosted channels.

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Kosmos (ATOM) rises with a gain of more than 10% as the index shows it is not in a safe zone

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  • ATOM price is showing strength as the price rebounded from the weekly low of $8.5, giving some relief to the bulls.
  • ATOM price still looks bearish as the sentiment towards the market continues, as things look uncertain for most of the traders and investors.
  • ATOM price is rising higher on the daily time frame as the price is moving towards 50 Exponential moving averages (Exponential Moving Average) looks less likely to go up.

The price action shown by Cosmos (ATOM) recently has not been stimulating after prices fell from the $27 region to a weekly low of $8.5. With many looking for a major dump in Bitcoin (BTC) price, Bitcoin (BTC) price rebounded from $15,500 as the price surged to a high of $16,500, leaving bears on the sidelines as Comos (ATOM) price gained some comfortable bounce. To hold strongly above the main support level. The price action shown by Cosmos (ATOM) and many altcoins recently has been problematic as many altcoins are struggling to survive. The Domino effect has left the FTX chain and other large investors involved in the market at a standstill as the market has yet to make a big move after the previous weeks. (data from Binance)

Cosmos (ATOM) price analysis on the weekly chart

Most cryptocurrency traders and investors have had a rough few days, with many worried about the direction the market is headed after so much turmoil in the cryptocurrency space. Many digital currencies have struggled to show strength, and have lost key support in an effort to survive.

The current uncertainty in the market has caused traders and investors to hesitate to buy altcoins, as there is no guarantee that their value will rise anytime soon.

ATOM price struggled on the weekly chart despite the market uncertainty affecting major crypto projects that continued to build in this bear market, and more FUD (Fear Uncertainty and Uncertainty) continued. ATOM saw its price trade in the $17 region on the weekly chart, but the price was rejected as ATOM price fell to the $8.5 region, and rebounded from this region to trade at $9.5 with little relief from the market.

ATOM price weekly resistance – $10.

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ATOM price weekly support – $8.5.

ATOM price analysis on daily chart (1D)

ATOM daily price chart | Source: ATOMUSDT On Tradingview.com

ATOM price is still quite weak in the daily time frame as the price is trading above the $8.5 support after the price was rejected from the $17 high.

ATOM price is trading at $9.8 below the 50 and 200 EMAs, acting as resistance for ATOM price. The price of $11.5 and $13.8 correspond to the prices at these levels, as it acts as resistance.

If ATOM price breaks and stabilizes above $11.5, we could see more hikes for ATOM price to $13 area; A break below $8.5 would send the price back to the $5 region.

ATOM price daily resistance – $11.5.

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ATOM price daily support – $8.5 – $6.

Featured Image From zipmex, Charts From Tradingview 

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Giving Thanks to Bitcoin – Bitcoin Magazine

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This is an op-ed by Mickey Koss, a West Point graduate with a degree in economics. He spent four years in the infantry before transferring to the Finance Corps.

I wrote earlier this year about how to do this FTX bails out other companies It wasn’t altruistic, it was good for business. I had no idea how important it was to work It’s all over. This was their last desperate attempt at self-preservation, eventually before they collapsed and burned in a full-blown liquidity crisis.

As I sit here absorbing all the news surrounding FTX, I can’t help but be grateful for the bitcoins that the cryptocurrency community deems toxic. It’s none other than those toxic extremities like Matt Odell, Marty Bent, and Cory Klippsten who got me off my ass for taking positive steps to secure my group and take self-custodianship.

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Here’s Why $16.5K Matters to $1.14B Bitcoin Options Expiration in November

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bitcoin (BTC) down by 7.3% between November 20-21, as it tested the $15,500 support. While the correction appears small, the move caused $230 million in futures liquidation. Thus, the leveraged bulls came off unprepared for the $1.14 billion monthly options expiration on November 25.

Bitcoin investor sentiment worsened after Genesis Trading, part of the Digital Currency Group (DCG) conglomerate, It halted payments in the cryptocurrency lending arm On November 16, most importantly, DCG owns money management firm Grayscale, which is responsible for Bitcoin’s largest institutional investment vehicle, the Grayscale Bitcoin Trust (GBTC).

Additionally, Core Scientific has warned about a bitcoin miner “Great doubt” about the continuation of its operations over the next twelve months due to her financial instability. In its quarterly report filed with the US Securities and Exchange Commission (SEC) on November 22, the company reported a net loss of $434.8 million in the third quarter of 2022.

Meanwhile, New York Attorney General Letitia James addressed a letter to members of the US Congress on November 22 recommending Cryptocurrency purchase ban Use the money in IRAs and defined contribution plans such as 401(k) and 457 plans.

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Despite the efforts of the bulls, Bitcoin has not been able to post a daily close above $17,000 since November 11. This movement explains why $1.14 billion in monthly bitcoin options expires on November 25 despite the 6% rally from the bottom of $15,500. .

Most bullish bets are above $18,000

Bitcoin’s sharp correction of 27.4% after failing to break the $21,500 resistance on November 5 surprised the bulls because only 17% of monthly expiry call (buy) options were placed below $18,000. Thus, the bears are in a better position even though they placed lower bets.

Bitcoin options pool open interest on november 25th. Source: CoinGlass

A broader view using a buy-to-buy ratio of 1.14 shows more bullish bets because the open interest of the call (buy) stands at $610m versus the put (put) options of $530m. However, given the 20% drop in Bitcoin in November, most bullish bets are likely to become worthless.

For example, if the price of Bitcoin remains below $17,000 at 8:00 AM UTC on November 25, only those $53 million worth of call (buy) options will be available. This difference occurs because there is no use in the right to buy Bitcoin for more than $17,000 if it trades below that level at expiry.

The bears could secure a profit of $245 million

Here are the four most likely scenarios based on the current price action. The number of option contracts available on November 25 for the buy (bull) and put (bear) instruments varies, depending on the expiration price. The imbalance in favor of each side constitutes the theoretical gain:

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  • Between $15,000 and $16,000: 200 calls for 16,000 puts. The net result favors the Bears by $245 million.
  • Between $16,000 and $17,000: 3,200 calls for 11,900 puts. The net result favors the Bears at $145 million.
  • Between $17,000 and $18,000: 5,600 calls vs. 8,800 puts. The Bears are still in control, winning $55 million.
  • Between $18,000 and $18,500: 9100 calls for 6500 puts. The net result in favor of the Bulls increased by $50 million.

Related: BTC Price Holds $16K As Analyst Says Bitcoin Fundamentals ‘Unchanged’

This crude estimate takes into account buy options used in bullish bets and put options exclusively in neutral to bearish trades. However, this oversimplification ignores more complex investment strategies.

Bitcoin bulls need to push the price above $18,000 on November 25 to turn the tables and avoid a potential loss of $245 million. However, Bitcoin bulls recently secured $230 million worth of leveraged long-term futures trades, so they are less inclined to push the price higher in the short term. However, the most likely scenario for November 15th is the $15,000-$17,000 range, offering a decent win for the bears.

The views, ideas and opinions expressed herein are those of the authors alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.