by Penny Angeles-Tan | Oct 26, 2024 | Business
Ethereum experiences a price drop. This article will provide an in-depth analysis of the factors influencing the price of ETH, including short-squeeze, institutional flows, and long-term prospects.
Ethereum (ETH) experienced two consecutive days of declines on Tuesday, October 22, after facing rejection at levels around $2,700 the previous day. The decline was supported by mild outflows of over $20 million in US spot Ethereum Exchange Traded Funds (ETFs).
Moreover, the Estimated Leverage Ratio is high in the market futures ETH indicating an increased likelihood of a short-squeeze scenario occurring.
Is it true Ethereum could experience a short-squeeze?
Ethereum may experience a short-squeeze as the Estimated Leverage Ratio (ELR) increases and trades at 0.39 the highest level since early July. This rising ELR indicates that the futures market is overheating making Ethereum vulnerable to a potential short-squeeze event that could trigger impulse buying and significantly push the price up in the event of an unexpected rise.
Institutional flows also fell slightly at the start of the week. According to Coinglass data, US spot Ethereum ETFs recorded mild outflows of $20.80 million on Monday. CryptoQuant’s Coinbase Ethereum Premium Index data shows signs of weakness and remains below neutral levels.
In Ethereum’s case, the metric currently stands at -0.039, below the neutral level of zero. For the Ethereum price to rally, the metric must rise above the neutral value of zero.
Ethereum Price Shows Signs of Weakness
At the time of writing on October 24, Ethereum has continued its price decline to now trade around $2,522. If ETH continues its retracement, it could fall further to retest its daily support level of around $2,461.
The Relative Strength Index (RSI) momentum indicator is showing 31, a very low number because the selling trend is much higher than the buying trend. Currently, ETH can even be considered to be experiencing overselling. With the MACD line continuing to decline, Ethereum is certain to experience bearishness shortly.
Conversely, if ETH breaks the descending trend line and closes above $2,820, Ethereum’s price could rally to retest the next daily resistance at $2,927.
Ethereum Price Analysis
Ethereum has experienced a price decline in recent weeks. This is largely due to the bearish sentiment in the cryptocurrency market as a whole. However, some special factors have also influenced the price of Ethereum.
One of these factors is the increase in mining activity. When more miners join the Ethereum network, this can increase the supply of new ETH. Increased supply could put downward pressure on prices.
Additionally, increasing gas fees have been a concern for Ethereum users. Gas fees are transaction fees paid to miners for processing transactions. When gas fees are high, this can reduce users’ interest in using the Ethereum network, which can hurt the price of ETH.
Ethereum Prospects
Even though Ethereum has experienced a price decline in recent times, many analysts are still bullish on its long-term prospects. Ethereum is the most widely used blockchain platform for decentralized applications (dApps). This platform has a strong ecosystem and continues to grow.
One factor supporting Ethereum’s prospects is the increasing adoption of blockchain technology. The more companies and organizations start using blockchain, the more likely it is that Ethereum will become the platform of choice.
Additionally, Ethereum is developing Ethereum 2.0, which is a major update to the platform. This update is expected to improve Ethereum’s efficiency and scalability. This can increase the interest of users and investors.
Ethereum Futures Trading Strategy and Risks
If you are interested in trading Ethereum futures, there are several strategies you can use. One strategy is to use technical analysis to identify trading opportunities. Technical analysis involves studying price charts to look for patterns and trends.
Another strategy is to use fundamental analysis. Fundamental analysis involves studying factors that can influence the price of Ethereum, such as mining activity, gas fees, and the development of Ethereum 2.0.
Ethereum futures trading can be very risky. Leverage can magnify both profits and losses. It is important to understand the risks before starting to trade.
Conclusion
Ethereum is an attractive digital asset with long-term growth potential. However, like all investments, Ethereum futures trading also carries risks. It is important to do research and understand the risks before starting trading by checking Ethereum prices regularly on the Bitrue website.
You can also compare prices from ETH to USD easily. Apart from that, you can also do thorough research by staying up to date on the latest Ethereum information via the Bitrue blog.
by Penny Angeles-Tan | Oct 25, 2024 | Business
Want to know about the hottest “tap-to-earn” gaming projects? X Empire has launched the $X token! Learn about the airdrop, price predictions, and growth potential of this project.
X Empire, the popular Elon Musk-themed “tap-to-earn” game has launched its $X token on The Open Network (TON) today, October 24th. The game has gained significant traction, attracting more than 50 million players in recent months. Along with the token launch, an airdrop for players will also be held on the same date.
Let’s discuss together about X Empire in detail, starting from the distribution of tokens through the airdrop event, information about the $X token listing, to predictions X Empire price.
Chill Phase: Reset Time to Get Extra Tokens
Previously, the developer announced a delay after completing the mining phase on September 30. In response, they initiated a “Chill Phase” that resets all player progress to zero and allocates an additional 5% of the token supply to incentivize player participation during this short period of play.
In the Chill Phase ending on October 17, players are allowed to earn extra tokens, offering a final chance to collect rewards.
The X Empire team has communicated that airdrop preparations have been completed and players can claim their tokens on various exchanges, including OKEx, Bybit, Bitget, KuCoin, Gate.io, and MEXC.
Through a statement on Telegram, the team indicated that further information regarding the utility of the $X token and its role in the gaming ecosystem will be shared in the coming days.
X Empire Price Prediction
The launch of the X Empire token was followed by a big question, namely about its future price performance. Let’s examine the factors that can influence the price of X Empire.
- Token adoption: The more users who use the $X token, the higher the demand, which can push the price up.
- Project development: X Empire’s success in developing an ecosystem and new features can increase investor confidence and drive prices up.
- Market sentiment: General sentiment in the cryptocurrency market can influence the price of $X. If the overall market is bullish, the price of $X tends to rise.
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Development of blockchain technology: The development of blockchain technology as a whole could affect the value of all cryptocurrencies, including $X.
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Massive airdrop: X Empire uses a phased distribution approach, where early members are rewarded first. This strategy can create hype around the token, potentially driving the price up.
Gradual distribution can also reduce price volatility at launch. User sentiment is currently positive, plus Bitcoin prices are bullish. These conditions could support a good start for the $X price.
$X Token Price Increase Factors
While it is difficult to predict the price of $X with certainty, some analysts are optimistic about its long-term prospects. Several factors that support this optimistic view include:
- Market growth potential: The cryptocurrency market is still relatively new and has great growth potential. X Empire, as an innovative project with a strong community, could be one of the winners.
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Uses of tokens: The $X token has utility in the X Empire ecosystem, which may increase its demand.
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Community support: X Empire has an active and enthusiastic community, which can support the growth of the project.
However, keep in mind that the cryptocurrency market is highly volatile and can experience sharp price fluctuations. Therefore, it is important to do in-depth research before deciding to invest in $X.
Possible $X Token Price Drop
After listing, the price of $X experienced a significant increase. In the first few hours, the token price rose by more than 100%. This shows high interest from investors in the X Empire project.
However, mining phase delays and the unexpected “Chill Phase” disappointed some users. X Empire only provides airdrop access to 6 million players out of a total of 50 million players, potentially causing negative sentiment that could affect prices.
Currently, the price of the $X token is $0.0000567. This price is well below the community’s predicted price, which is $0.0002. However, even though the price is below predictions, currently X Empire has experienced a satisfactory increase, namely 467%.
However, X Empire’s RSI figure is below 50, which means that many token owners are selling $X compared to users who are buying the token.
This is quite natural because it coincides with the distribution of airdrops where the user’s habit is that when they receive an airdrop at a price that does not match predictions, the tokens will be sold, instead of HODLing.
Conclusion
The launch of the $X token is an important step for the X Empire project. While it is too early to judge its long-term performance, its growth potential looks promising.
Investors interested in this project need to monitor developments closely and conduct careful analysis before making an investment decision.
X Empire price predictions in the future are still confusing. Some experts are optimistic and estimate that the token price could reach $0.05 (around Rp. 4.20) by 2030. However, this depends on the steady growth of the crypto market and the success of project development.
Bitrue will continue to provide the latest information about X Empire so you can do in-depth research before deciding investment in token X This. Check the price of X Empire in real-time and find out harga token X to USD so you can allocate investment funds well.
X Empire has also entered Bitrue’s launchpool and there is a competition being held there so you can get maximum profit by investing $X tokens.
by Penny Angeles-Tan | Oct 23, 2024 | Business
Crypto futures trading provides benefit opportunities for users. Understand the mechanism, how it works, and its benefits. This article will also be explained about crypto futures event that Bitrue will hold next month.
The crypto ecosystem offers interesting instruments: cryptocurrency futures trading. These contracts allow investors to bet on the future price of digital assets, without having to actually buy them.
What is the mechanism, how does it work, and the benefits? You can see the detailed explanation in this article. This article will also explain the crypto futures event which will be held next November on Bitrue. So, if you want to maximize profits in the futures crypto with Bitrue, read this article till the end.
Working Mechanism of Cryptocurrency Futures Trading
Futures Crypto resembles futures contracts in general. Both parties, namely the buyer and seller of the contract, agree to transact at a certain price in the future. The asset at stake in these contracts is the fiat value of a particular digital asset. The transaction completion date is also determined when the contract is made.
Crypto futures contracts are traded on various exchanges, including Bitrue which offers Bitcoin and Ether futures contracts on margin.
History of Crypto Futures Contracts
Bitcoin futures contracts were first listed on the CBOE in early December 2017 but were later discontinued. However, in January 2024 the CBOE announced again trading Bitcoin futures contracts and Ethereum with margin. This makes CBOE “the first registered crypto exchange and clearing house in the US to offer both leveraged and spot derivatives trading on a single platform.”
CME also launched Bitcoin futures contracts in December 2017. This contract is traded electronically on the Globex platform and is cash-settled. Bitcoin and Etherium futures contracts are based on the CME CF Bitcoin Reference Rate and the CME CF Ether Reference Rate.
CME also has reference rates for various other crypto assets, although futures contracts for these cryptos are not yet available for trading on their exchange. These reference rates are published for use by traders on other exchanges. Currently, there are 17 crypto asset reference rates, including Bitcoin and Ethereum, 4 DeFi token reference rates, and 3 Metaverse token reference rates.
Benefits of Trading Crypto Futures Contracts
The main advantage of trading Bitcoin futures contracts is that it offers regulated exposure to the cryptocurrency. This is an important point in a volatile ecosystem with wild price swings. In the US, Bitcoin futures contracts on the CME are regulated by the Commodity Futures Trading Commission (CFTC).
This offers a level of trust and protection for institutional investors, who make up the majority of traders in such contracts.
- Simplicity: Bitcoin futures contracts also simplify the process of investing in Bitcoin. You don’t need to create a Bitcoin wallet or place money in a storage and security solution when trading because there are no Bitcoin exchanges. An additional advantage of cash settlement contracts is that they eliminate the risk of physical ownership of volatile assets.
- Safer than Crypto Holdings: Bitcoin futures contracts are relatively safer for dabbling in Bitcoin without getting burned because futures contracts have position and price limits that allow you to reduce your risk exposure to the asset class.
- Position Limits: Position limits differ between exchanges. For example, CME allows a maximum of 8,000 front-month futures contracts for Bitcoin and micro Bitcoin, and 8,000 for Ether and micro Ether.
Considerations When Trading Crypto Futures Contracts
The number of crypto exchanges offering crypto futures contract trading continues to grow, as does the number of participants and trading volume compared to other commodities. Trading crypto futures contracts has its peculiarities, such as:
- Trading volume in crypto futures contracts can mimic the volume of their spot market counterparts. Price fluctuations can also be high, especially during periods of price volatility. During these times, crypto futures contracts may appear to follow spot market prices or trade at a significant premium or discount to spot prices.
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Most exchanges are irregular. However, Some trading venues, such as CME, trade crypto futures contracts mostly on unregulated exchanges. Among the world’s largest platforms for Bitcoin futures contracts, only CME is regulated by the CFTC.
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Crypto futures contract options is a relatively new development. It functions like a standard options contract in that it represents the right, not the obligation, to buy cryptocurrency at a certain price at a future date.
Maximizing Profits in Cryptocurrency Futures Trading with Bitrue
Bitrue will hold a special event for crypto futures in the next month. There are two categories that you can choose, namely:
1. Liquidation Security for New Futures Users
This category is specifically for new Bitrue users at the time the event takes place. To participate in this category, you must open futures positions worth 100 USDT or more in any currency pair during the event period with a leverage of less than 20x.
Later, you will get additional prizes by inviting friends to take part in this event. The rewards you can get are more than 40% rebate commission and 10 USDT in futures trial funds.
2. Trade Futures And Claim 25 USDT Futures Trial Funds
This second category can be participated by new users and existing Bitrue users. New users are required to trade with amounts more than 100 USDT in their first futures transaction to receive 10 USDT futures trial funds.
For old Bitrue users, you can complete the first stage of Novice and Experienced Trader tasks to claim an additional 15 USDT in futures trial funds.
Conclusion
Before joining crypto futures, you must do in-depth research first. The Bitrue website provides various complete features that can help you do research, starting from checking the price of a token, knowing the price conversion for example from BTC to USD, to find out about various projects that a token or network is working on by reading articles on the Bitrue blog.
By understanding the mechanics, benefits, and risks of trading crypto futures contracts, you can make wiser investment decisions.
by Penny Angeles-Tan | Oct 23, 2024 | Advocacy
The Philippine National Police (PNP), with the aid of GCash, has uncovered the proliferation of online children and women trafficking during recent arrests of cybercriminals conducted by the law enforcement body.
A human trafficking suspect allegedly exploited victims on a popular social media platform. Posing as clients under various aliases, he purchased pornographic material from victims and then used it to coerce them into further sexual exploitation. The victims were subsequently trafficked to the Middle East for forced labor and prostitution, reportedly using various social media aliases, including Lester James Ang, LJ Garcia, Harley Garcia, Mark Harley Garcia, Mark Harley Dave Garcia, and Mark Harly Dave Garciano. He was eventually traced and arrested by an operation led by the PNP Anti-cybercrime group.
Two more separate cases of online child sexual exploitation have been reported by PNP-ACG involving a suspect named Mary June Netuliano Espiritu, who was put into custody for purportedly selling explicit videos of her daughter on social media. In a similar case, Leonisa Postetad Ligo is facing charges for allegedly prostituting two minor victims through a popular messaging app.
As the largest digital ecosystem, GCash recognizes its role in keeping the public and cyberspace secure— while safeguarding the well-being of women and children.
“To create a financially inclusive cashless ecosystem, we must ensure that the digital landscape is safe for users and their children by supporting law enforcement agencies in their efforts against cybercrimes. Our commitment extends to protecting the community from all threats, especially involving women and children,” said GCash vice president and head of corporate communications Gilda Maquilan.
GCash urges the public to report any incidents of scams, fraud, or cybercrime to the Philippine National Police Anti-Cybercrime Group (PNP-ACG) by calling (02) 8414-1560 or 0998-598-8116 or by emailing ac*@*****ov.ph. Users can also report cybercrimes through the official GCash Help Center at https://help.gcash.com by messaging Gigi on the website and typing ‘I want to report a scam.’ Alternatively, they may contact the GCash hotline by dialing 2882.
For a safer digital experience, GCash reminds its users to remain vigilant, never share their MPIN or OTP, and avoid clicking on suspicious links that could lead to phishing or fraud. GCash will never ask for personal information through private messages.
About GCash
GCash is the leading finance super app in the Philippines and boasts the largest cashless ecosystem in the country. With the GCash app, users can easily purchase prepaid airtime, pay bills through a network of partner billers nationwide, send and receive money anywhere in the Philippines (including to other bank accounts), and shop from over 6 million partner merchants and social sellers. Users also have access to savings, credit, loans, insurance, and investment options, all conveniently available on their smartphones.
The mobile wallet operations are managed by G-Xchange, Inc. (GXI), a wholly-owned subsidiary of Mynt, which is the first and only unicorn valued at $5 billion in the Philippines.
GCash is a strong supporter of the United Nations Sustainable Development Goals (SDGs), particularly SDGs 5, 8, 10, and 13. These goals emphasize safety and security, financial inclusion, diversity, equity, and inclusion, as well as the urgent action needed to combat climate change and its impacts.
About Fuse Lending, Inc.
Fuse Lending, Inc. is a company that provides simple, affordable, and secure loans in the Philippines. Its primary mission is to help individuals and small businesses achieve financial security and growth through a variety of digital lending products. Fuse Lending is a wholly-owned subsidiary of Mynt, the first and only $5 billion unicorn in the Philippines. It is also regulated by the Securities and Exchange Commission (SEC).
Mynt, through its fintech operations, strongly supports the United Nations Sustainable Development Goals (SDGs), specifically Goals 5, 8, 10, and 13. These goals focus on safety and security, financial inclusion, diversity, equity, and inclusion, as well as taking urgent action to combat climate change and its impacts.
by Penny Angeles-Tan | Oct 23, 2024 | Business
Learn about liquidation in crypto futures trading, from what the contract is to how it works. This article discusses the factors that cause liquidation, the process, and the importance of risk management for traders to avoid financial losses. Discover strategies for success in the world of crypto futures!
A futures contract is an agreement to buy or sell an underlying asset at a specified price at a specified date in the future. This is a type of derivative contract. These contracts are important in financial markets as they provide traders with opportunities to hedge or speculate.
In this article, we will discuss this type of trading about crypto liquidations and try to understand why crypto liquidations are a valuable tool.
Understanding Crypto Liquidation in Futures Trading
Crypto liquidation in futures trading is about closing positions to balance the initial trade. If a trader has a long position, meaning they want to buy the asset, they must sell the contract to liquidate it. Conversely, if they have a short position, meaning they want to sell the asset, they must buy back the contract to complete the liquidation.
Crypto liquidations are common in futures trading, but traders should think carefully about the effects. This includes looking at how leverage can affect trading results.
Not knowing how crypto liquidation works can lead to major financial losses, especially for new traders who may not fully understand futures trading. In other words, traders who do not know when and how to manage their positions risk liquidation.
Basics of Crypto Liquidation in the Market
Crypto liquidation in futures trading depends on margin requirements. When you trade futures, you must deposit a percentage of the contract value as a margin. It serves as collateral to cover possible losses.
When the price of the underlying asset changes, margin requirements also change. If a trade goes against you and your margin account falls below a certain level, known as maintenance margin, you will receive a margin call.
How Crypto Liquidation Works in Futures Trading?
Liquidation in futures trading occurs for two main reasons:
1. The first reason is voluntary crypto liquidation. Here, a trader decides to close a position before the expiration date of the futures contract. They may do this to take profits, limit losses, or change their trading strategy based on market analysis or risk appetite.
2. The second reason is forced liquidation. This occurs when a trader’s margin account falls below the required maintenance margin level. This usually happens because the price of the underlying asset has fallen. In this case, the brokerage firm can sell the trader’s position, no matter what their investment plans or outlook.
Crypto Liquidation Process for Traders
The liquidation process for people trading in the futures market has several steps. When a trader wants to close their position or if they get a margin call, the first step is to place an order against their current position. For example, if a trader is long on a futures contract, they would need to enter a sell order for the same type and number of contracts.
Profits go to the trader’s trading account, while losses reduce the margin account. Traders need to keep an eye on their margin levels, especially during difficult market conditions. This helps them avoid forced liquidation and major financial losses.
Factors Leading to Liquidation in Futures
Several things can cause the liquidation of a futures contract. This affects both long and short positions. One major factor is that large changes in the price of the underlying asset can lead to large losses and margin calls.
High liquidity in the futures market can exacerbate this. Even small price changes can cause large fluctuations.
Changes in interest rates can affect the costs associated with futures positions. This can affect how profitable the position is and may lead to liquidation. It is important to know that futures trading uses leverage. This means that profits and losses can be magnified.
Traders should think about market risk, interest rate changes, and their risk tolerance. This will help reduce possible liquidation risks.
Conclusion
MKnowing about crypto liquidation in futures trading is the key to success. When you understand the basics, you can move through the markets better. You can use risk management techniques is important.
Understanding trading strategies will also help you to avoid unwanted liquidations. By focusing on timing, predicting trends, and taking advantage of market changes, traders can make better choices.
Bitrue can help you do research before trading crypto futures. You can study before buying futures Bitcoin, Ethereum, Solana, XRP, and other crypto tokens. Also, find out how to convert prices from Ethereum to USD and other tokens easily on the Bitrue website.
GCash is the leading finance super app in the Philippines and boasts the largest cashless ecosystem in the country. With the GCash app, users can easily purchase prepaid airtime, pay bills through a network of partner billers nationwide, send and receive money anywhere in the Philippines (including to other bank accounts), and shop from over 6 million partner merchants and social sellers. Users also have access to savings, credit, loans, insurance, and investment options, all conveniently available on their smartphones.
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