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The crypto markets, like the traditional finance world, are due to the behavior of thousands, if not millions, of investors making individual decisions. These seemingly unrelated and unconnected decisions, when looked at from a bigger-picture perspective, start to form a pattern. This is the reason why fractals occur in nature, this is the reason why history rhymes and sometimes repeats itself.

Hence, paying close attention to social cues could be a powerful tool in the hands of the right investor. As the second quarter of 2023 kickstarts, certain repetitive behaviors are beginning to resurface that could indicate that a local top for the 2023 bull rally might be around the corner.

While the crypto market and stock market happen to be starkly different from each other, in some ways, they share a lot of similarities. The changes in prices due to market events are both cyclical in nature, i.e., they follow a pattern of highs and lows and form tops and bottoms over time.

In the case of the crypto market, year to date, digital assets have noted significant increases. Bitcoin price since the beginning of 2023 has risen by over 70%, and Ethereum price similarly over the last three months has increased by 58%. Other altcoins have also noted massive gains, which indicate an active bullish narrative.

However, certain recent events suggest that a top could be forming.

Over the last few months, the crypto market has noted instances suggesting a local top, such as:-

But this is not the first time this has been observed, as in the past, similar events have occurred that led to the formation of a local top.

IMX social sentiment

Although it is premature to predict a local top, investors need to be cautious regardless, as the aforementioned signs are usually signals of a top and can trigger a drop in price at any time.

As for now, Bitcoin investors need to watch out for a rise to $35,000 and $38,500, as these would mark key levels for taking a profit. At the same time, should corrections arrive and Bitcoin price fall below the key support level of $24,736 to $17,600, selling pressure could rise.

For more information on potential corrections or retracements in the future where investors can accumulate, refer to the article attached below.

Bitcoin Weekly Forecast: Breaking down key BTC levels to accumulate for Q2, 2023

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Why these social cues could be forecasting a local top for Ethereum and the broader crypto markets - FXStreet

Ethereum mainnet archive node service ArchiveNode.io says it will be shutting down, claiming that the project has been a success.

On April 4, ArchiveNode.io announced it was sunsetting its services after more than three years of providing free Ethereum mainnet archive node services to developers, students and researchers.

An Ethereum Archive Node is an instance of an Ethereum client configured to build an archive of all historical states. This type of node is a useful tool for querying historical blockchain data that is not accessible on full nodes.

Additionally, Archive Nodes are not required to participate in block validation so they can theoretically be built from scratch; however, they do require much greater storage capacity.

The announcement was made by DeFi Dude, who initiated the project and claimed it was being shut down because we succeeded," adding:

He added that nobody was running Archive Nodes when the project started. The only option was to pay Ethereum infrastructure provider Infura $250 monthly to access archive data.

The goal of the project was to get archive data into the hands of developers, students, and researchers who wanted to build cool shit, but didnt have the time, money, or resources available to run their own archive node.

He confirmed the project was never to make money or profit.

Related:SEC lawsuit claims jurisdiction because ETH nodes are clustered in the US

He added there is currently a robust remote procedure call (RPC) provider market offering access to archive data making the project obsolete.

ArchiveNode.io thanked the Ethereum Foundation for their initial grant of $10,000 in Amazon Web Services (AWS) credits to get the project off the ground.

According to a Cointelegraph report from August, just three centralized cloud providers account for more than two-thirds of Ethereum nodes. More than half of the total nodes were hosted on AWS, according to data at the time.

Features: Account abstraction supercharges Ethereum wallets: Dummies guide

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Ethereum Archive Node service shuts down, saying it succeeded - Cointelegraph

The Cosmos team took to Twitter on April 6 to share more about IBC-Solidity. The team announced that IBC (Inter-Blockchain Communication) would be expanding to other blockchains like Ethereum. In detail, the Solidity implementation of IBC aims to connect Ethereum to Cosmos.

By using IBC-Solidity, it will now be possible to facilitate the transfer of messages, tokens, and data across a variety of blockchains. This includes blockchains like Ethereum, EVM-compatible blockchains, and Enterprise Ethereum.

The Twitter post also added that by being EVM-compatible, IBC-Solidity can also be used to connect chains like BSC, Polygon, and Avalanche. In addition to this, IBC-Solidity can then be utilized in cross-chain bridges to connect these public chains.

ATOM price Source: CoinMarketCap

Despite this announcement from yesterday, Cosmos (ATOM) is currently one of the cryptocurrencies trading in the red. CoinMarketCap indicates that ATOM is now worth about $10.97 after a 3.48% price decrease over the last day. The crypto also reached a high of $11.59 over the same time period.

Looking at the altcoins weekly performance, it is clear that the crypto still has a bit of work to do to creep back in the green zone as ATOM is down by just more than 1% over the last seven days. At the moment, ATMs 24-hour trading volume is in the green and stands at $160,896,454 after a more than 12% increase since yesterday.

Its market cap of $3,138,919,550 means that ATOM is currently ranked as the 22nd biggest crypto in terms of market capitalization.

Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.

The post Cosmos Reveals IBC-Solidity Aims To Connect Ethereum To Cosmos appeared first on Coin Edition.

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Cosmos Reveals IBC-Solidity Aims To Connect Ethereum To ... - Investing.com

PancakeSwap, a decentralized exchange, or DEX, with more than 1.5 million unique users, introduced Version 3 on the Ethereum and BNB Chain networks on Monday.

The upgraded platform will offer the cheapest fees for on-chain trades among counterparts such as SushiSwap and Uniswap and increased returns for liquidity providers, the exchange's developers told CoinDesk on Sunday.

PancakeSwap V3 also introduces features that enhance the platform's capital efficiency. These include allowing liquidity providers to concentrate their capital on smaller price ranges, a feature that results in higher fee earnings from the same amount of deposits, the developers said.

V3 will introduce four different trading fee tiers: 0.01%, 0.05%, 0.25% and 1%. V2 offered a single tier of 0.25%. Each token pair can have a liquidity pool for each fee tier, with asset pairs gravitating toward the tier where incentives for both liquidity providers and traders are most rewarding.

This approach is designed to ensure a balance between traders paying the lowest fee tier while still incentivizing the highest possible liquidity from LPs.

In the future, PancakeSwap V3 will introduce two new features: A V3 VIP trading rewards program and a position manager feature.

The VIP program is a tiered system that rewards traders for their trading volume with exclusive benefits such as a chance to get up to a 5% trading fee rebate which may incentivize more platform activity and improve PancakeSwaps revenue.

The "position panager" feature will allow traders to easily deposit liquidity and optimize that position, based on fees and rewards, over time. The tool eliminates the need for manual calculations for third-party integrations, allowing users to automatically adjust their positions and earn fee rewards while staying within range.

Both these features are in development now and are expected to be introduced soon.

PancakeSwap V3 is also compatible with all tools built for the version 3 of Uniswap, which is the largest DEX by daily users and trading volume. PancakeSwap had over $2.5 billion in total value locked as of Monday. Uniswap had $3.9 billion, DefiLlama data shows.

Excerpt from:

PancakeSwap DEX Launches Version 3 on BNB Chain and Ethereum - CoinDesk

EthOS, a native operating system that integrates with the ethereum blockchain, has launched a major new release.

ethOS 2.1 comes with a System Wallet secure enclave, a mint app, a light node indicator and easier chain switching, says Markus Haas, the co-founder of EthereumPhone.

This is a fork of the popular fork of Android, called LineageOS, making ethOS open source too and available on Github.

To install it, you need an OEM Unlocked Google Pixel 3, 3XL, or 5a, with this being a bridge to the teams ambitions to launch a full on hardware device called the Ethereum Phone (Phone).

The operating system, as youd expect, has a native eth wallet and some blockchain capabilities like insta NFT minting a picture you take with your phone.

It connects with the blockchain roughly the same way as most wallets do, through a light node which instead of downloading every block, downloads only the block headers containing a summary of the information within the blocks.

These used to be called SPV wallets, and they still are in bitcoin, that standing for Simplified Payment Verification. They have some theoretical problems, but for more than a decade now they have run without problems in practice.

It integrates with the Ethereum Name Service (ENS) natively as well, something that then brings us to the actual potential unique selling point.

This operating system integrates the little known Extensible Message Transport Protocol (XMTP), which describes itself as an open protocol, network, and standards for secure, private web3 messaging.

Because the XMTP network persists messages, and those messages are tied to web3 identities as opposed to a specific client app, each web3 identity has an interoperable inbox that it can access using any client app built with XMTP, the project says.

So a kind of an open chatapp, like the defi dapps but this doesnt use a blockchain or the Ethereum Virtual Machine (EVM). It does have nodes however.

The nodes provide a message API that enables client apps built with the XMTP client SDK to communicate with the XMTP network. The nodes use Waku node software to connect to other nodes and form a peer-to-peer network to relay and store envelopes submitted and requested by client apps.

These nodes are currently closed source and are operated only by XMTP Labs, though theyre working towards opening them up to make it a fully decentralized network.

So you can connect your ENS to XMTP through ethEOS and. party on? Making this whole infrastructure from start to finish, well once the hardware phone is built, all crypto native as much as it can be.

So giving a vivid indication of the expansion of this space in seemingly unrelated areas, though crypto is making some significant advances even in what might look like further out areas.

One such area is data replication, like database replication for say MySQL but other sorts too with a full on 200 pages long dissertation discussing just how crypto is contributing to that space and in turn how new research can contribute to crypto.

The operating system therefore on its own might look like little, but combined with all the rest it is a bit of hard science coming to market.

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Ethereum Mobile Operating System Goes Live Trustnodes - Trustnodes