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Home > News
Published: 01/04/2024
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Author: Kane
Deposit and Trade to Earn SOL and BOME on BingX
The cryptocurrency exchange BingX is organizing an event where depositing and trading on this platform will earn you SOL and BOME tokens. With rewards, you can receive up to 5000 BOME and 1 SOL.
Azcnews Breaking
Table of Contents
Join the special program by BingX, a reputable cryptocurrency exchange, to receive attractive rewards from Solana and BOME memecoin!
From March 27, 2024, to April 17, 2024, all cryptocurrency deposits and trades on BingX will be eligible for special rewards. The more you trade, the greater your chance of receiving a large amount of SOL and BOME tokens, cryptocurrencies that are attracting community attention.
Simply register an account on BingX and actively trade during the event period to be eligible for rewards. Rewards will be sent directly to your wallet within 7 days after the event concludes.
This is a great opportunity for you to explore the potential of Solana and BOME memecoin, while experiencing the superior trading features on BingX. Register today to not miss out on this opportunity!
For more details and registration, visit: https://bingx.com/partner/AZCoiner/0lSX2g
Tasks and Rewards on BingX
Deposit
Deposit
Deposit
Deposit 100u to get 10 BOME immediately
Deposit 500u to get 20 BOME immediately
Deposit 1000u to get 50 BOME immediately
Deposit 5000u to get 100 BOME immediately
Deposit 10000u to get 1000 BOME immediately
Deposit 50000u to get 5000 BOME immediately
Trade
Trade on bingx
Trade
Trade 100U to receive 5 BOME
Trade 1000U to receive 20 BOME
Trade 5000U to receive 80 BOME
Trade 10000U to receive 100 BOME
Trade 50000U to receive 500 BOME
Trade 100000U to receive 1000 BOME
Trade 500000U to receive 10000 BOME
Trade 1000000U to receive 1 SOL
Related: How to Participate in the Backpack Airdrop
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Long-term Holders Selling Bitcoin to Take Profit
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ADA Coin ADA
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BTC Coin BTC
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ETH Coin ETH
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SOL Coin SOL
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ADA Coin ADA
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Home > News
Published: 02/04/2024
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Author: Leexim
Long-term Holders Selling Bitcoin to Take Profit
Long-term holders are initiating coin distribution as on-chain data indicates Bitcoin is reaching overheated levels.
Azcnews (1)
Table of Contents
Coin Days Destroyed Index
According to information from CryptoQuant, Bitcoinâs Coin Days Destroyed (CDD) index has reached its highest new peak in the past 5 years. Maartunn, a blockchain analytics expert, discussed this issue in a recent article.
CDD measures the number of days that Bitcoin is inactive multiplied by transaction volume.
In the past, when CDD reached highs above the 60-day moving average (MA), this often indicated that long-term holders were starting to sell their assets. This is often accompanied by a significant correction period for Bitcoin. Maartunn also noted this in his article.
Chart showing how Bitcoin long term holders are selling
Source: CryptoQuant
âThis model shows that during bullish periods, there is distribution from long-term investors. In the past, it took up to 5 months for Bitcoin to peak in price.â
At the time of writing, the price of BTC is $69,663, representing slight fluctuations over the past 24 hours. Further analysis of Bitcoinâs on-chain state shows that activity on the network has decreased.
As of this moment, there are approximately 706,000 active Bitcoin addresses in 24 hours. A few days ago, this number surpassed 1 million. This recent decrease shows that Bitcoinâs successful transactions have decreased.
If the network is not performing strongly, prices may be affected as demand may decrease. If this happens, Bitcoinâs price could drop below $69,000.
Network Value to Transaction Ratio
Bitcoin's dropping activity and overvalued state
Source: Santiment
In addition to looking at active addresses, the Network Value to Transactions (NVT) ratio should also be considered. This is an indicator of whether an asset is priced too high or too low, depending on how well the cryptocurrency is performing.
A low NVT ratio typically indicates that trading volume is growing faster than market capitalization. In this case, it can be predicted that investor sentiment is positive. However, Bitcoinâs NVT ratio is at a high level, around 405, indicating negative investor sentiment. This high level could indicate that Bitcoin is overvalued, especially considering current market conditions.
Related: LMAX CEO Foresees Bitcoin Trading in Six Figures
Cryptocurrency analyst Ali Martinez, in an article on X (formerly Twitter), also shared his views on Bitcoin in the short-term future.
According to Martinez, Bitcoinâs price could drop to $63,150 if bulls fail to hold the $68,300 support.
However, he also emphasized that Bitcoin price could increase if it breaks above $70,320.
It seems that the price of Bitcoin may drop before the halving event on April 19. According to historical observations, the currency often experiences large fluctuations as the halving event approaches.
Meanwhile, it is likely that Bitcoin will surpass $70,000 this cycle. However, this could happen after the halving event.
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