$SOL solana based meme coin found as honey pot scam. #ScamRi | Crypto Currency Updates on Binance Square

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$SOL solana based meme coin found as honey pot scam. #ScamRiskWarning #Memecoins 

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Bitcoin's Price Action Around $61K Could Determine Its Next Move According to CryptoPotato, Bitcoin's price action around the critical 100-day moving average at $61K could dictate its next decisive move. After a modest bullish rebound from the substantial $59K support level, Bitcoin encountered selling pressure, retracing back to this pivotal juncture. The cryptocurrency has been in an extended sideways consolidation phase near the pivotal $60K price range. A sudden decline below the critical $59K level could trigger another notable downward movement toward the $56K threshold. However, this pivotal juncture also holds the potential to halt further downward pressures and provide mid-term support. Analysis of the 4-hour chart reveals heightened buying pressure near the critical $58K mark, resulting in a bullish surge toward the $66K threshold. However, increased selling pressure around $66K led to a noticeable downtrend, bringing the price back to the crucial $60K support region. Sellers are currently attempting to push the price below the significant $60K support level and the lower boundary of the wedge. If successful, it could signify a more sustained bearish phase, targeting the critical $56K support region. The Supply-in Profit (%) metric, representing the proportion of Bitcoin’s supply-in profit, has recently surged to its highest levels, indicating that many participants may be considering realizing profits, potentially leading to increased selling pressure. Historically, such elevated levels have often preceded market volatility and potential downturns as holders begin to liquidate their positions. However, despite a notable decline in the metric, the price has only undergone slight consolidation, suggesting that the recent decline might be a corrective movement triggered by profit realization. It’s plausible that once the correction stage concludes, the price will likely initiate a fresh, impulsive surge. #BTC🔥🔥🔥🔥🔥 #BTC_MARKET_UPDATE #BinanceLaunchpool $BTC $ETH $BNB

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Modular Blockchain Platform Saga Partners With Layer1 Network XION According to Foresight News, modular blockchain platform Saga has announced a partnership with Layer1 network XION. The collaboration aims to introduce chain abstraction to Saga's chainlet. Further details about the partnership or its potential impact were not provided in the original report. It’s time for saga to pump. I will buy saga now that it will go up in short period. $SAGA $SAGA #SAGA🔥🔥 #SAGAUSDT #SAGASuccess

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Stablecoins Likely to Fail, Warns Deutsche Bank Analysts According to Bloomberg, a recent study by Deutsche Bank analysts has raised concerns about the future of stablecoins. The study, which examined 334 currency pegs dating back to 1800, concluded that most stablecoins are likely to fail. Stablecoins, which aim to maintain a one-to-one value with fiat currencies like the dollar, are a significant part of crypto trading. They offer users a safe haven from the volatile price swings in the nascent market. In a high-profile example of potential risks, the collapse of Terraform Lab’s algorithmic stablecoin TerraUSD and its sister token Luna led to a loss of at least $40 billion worth of crypto two years ago. These two coins were designed to depend on each other to maintain value. The analysts noted that the few successful pegged currencies that survived did so because they had credibility, were backed by reserves, and operated in tightly controlled systems. These are three elements that many major stablecoins lack. The research team expressed particular concern about Tether due to its monopoly in the stablecoin market, which is rife with speculation and lack of transparency. Tether has been issuing quarterly attestations of its reserves following settlements with the CFTC and New York state. The researchers were not surprised by the 30% de-peg rate among some stablecoins, and noted that many more defunct stablecoins are difficult to account. The researchers chose to study currency pegs due to their important parallels, despite being implemented for different reasons. They found that 49% of the fixed currencies in their database failed, with a median lifespan of 8-10 years for those that failed or were discontinued. The study concluded that macroeconomic factors are key to determining a peg's sustainability, and issues around governance and speculative forces could indicate when there's a possibility of de-pegging. $USDC $FDUSD $TUSD #USDollarWarning #altcoins #MicroStrategy

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Bitcoin current analysis Bitcoin's current scenario shows it trading at $BTC 59359 on the 4-hour chart. Currently, BTC dominance is at 52.2%, RSI is at 56, 24 hour high is $59,976 and lowest is $57,542and the total market cap stands at 2.28T with a 0.04% increase over the last day. Bitcoin's current situation shows it at $56,500 and $55,500 strong support levels (meaning there are buyers here). Bitcoin's resistance levels are at $61,800 and $60,000 (indicating sellers are present, leading to Bitcoin sales). According to this market update, it is essential to adjust your plan accordingly. Now, you have to decide what to do with your funds. It is essential to manage your trades according to this market update. Crypto Currency market is highly volatile any one can do the analysis and based on that we can do we manage our trades as per our funds. No one can predict exact trades movement. It is very risk to trade with high leverage and manage your trades as per your funds if you are going for future trading only use less then 1 % of your funds and it is very important to add stop loss and Take profit. Never trade with out SL and TP. It is said that something is better than nothing. Do your trades as per market situation and coin situation. Don’t take high leverage like gambling. If you like our Analysis then press like and comment. If you like more shares and tips are more then welcome. #BTC #ScamRiskWarning #BullorBear #Bitcoin❗️ #BinanceLaunchpool $BTC $ETH $BTC

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Bitcoin current analysis Bitcoin's current scenario shows it trading at $BTC 58,739 on the 4-hour chart. Currently, BTC dominance is at 52.2%, RSI is at 48, 24 hour high is $59,575 and lowest is $56,911and the total market cap stands at 2.22T with a 0.04% increase over the last day. Bitcoin's current situation shows it at $56,500 and $50,500 strong support levels (meaning there are buyers here). Bitcoin's resistance levels are at $64,800 and $60,400 (indicating sellers are present, leading to Bitcoin sales). According to this market update, it is essential to adjust your plan accordingly. Now, you have to decide what to do with your funds. It is essential to manage your trades according to this market update. Crypto Currency market is highly volatile any one can do the analysis and based on that we can do we manage our trades as per our funds. No one can predict exact trades movement. It is very risk to trade with high leverage and manage your trades as per your funds if you are going for future trading only use less then 1 % of your funds and it is very important to add stop loss and Take profit. Never trade with out SL and TP. It is said that something is better than nothing. Do your trades as per market situation and coin situation. Don’t take high leverage like gambling. If you like our Analysis then press like and comment. If you like more shares and tips are more then welcome. #BTC #ScamRiskWarning #BullorBear #Bitcoin❗️ #BinanceLaunchpool $BTC $ETH

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