Bitcoin Intraday Key Levels

The BTC/USDT pair has gained 2.40% in the last 24 hours and is currently trading at $104,732. Bitcoin (BTC) took a slight bounce from the $102,599 support level mentioned in yesterday’s analysis. If BTC continues to rise, it should close above the $105,766 resistance level. The key support levels are $102,599 and $101,545.

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Ethereum (ETH): The ETH/USDT pair has gained 5.48% in the last 24 hours and is currently trading at $3,385. The resistance levels for Ethereum (ETH) are $3,440, followed by $3,535. Key support levels are $3,290 and $3,217.

Lido DAO (LDO): The LDO/USDT pair has surged 11.74% in the past 24 hours and is currently trading at $2.00. LDO’s resistance levels stand at $2.009, followed by $2.09. Key support levels are $1.94, with deeper declines possibly reaching $1.836.

Ethereum Name Service (ENS): The ENS/USDT pair has risen 8.44% in the last 24 hours and is now trading at $36.14. ENS resistance levels are $36.47, followed by $37.75. Key support levels are $34.44, with deeper declines possibly reaching $32.64.

Ethena (ENA): The ENA/USDT pair has gained 6.83% in the last 24 hours and is currently trading at $0.8963. ENA resistance levels are $0.9664, followed by $1.0162. The support levels are $0.8117, with further declines potentially reaching $0.7566.

Trending Coins

In the past 24 hours, the most trending coins in the crypto market include MANTRA (OM), Reploy (RAI), and Koma Inu (KOMA).

The top gainers are Onyxcoin (XCN), Constellation (DAG), and MEOW (MEOW).

Meanwhile, the top losers in the market include Animecoin (ANIME), VeThor (VTHO), and Melania Meme (MELANIA).

Bitcoin Liquidation Map

Looking at Bitcoin’s 12-hour liquidation map, the largest liquidation zone on the upside is at $106,484, with $97.23 million in liquidations.

On the downside, a major liquidation level is at $101,641, with $48.34 million in liquidations.

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This impressive surge is supported by strong interest in high-momentum altcoins like XRP, Dogecoin (DOGE), Ethereum Name Service (ENS), and Hedera (HBAR).

South Korea’s Impact on Altcoins

According to 10x Research, Ripple (XRP) took the lead in South Korea’s market with over $6.3 billion in daily trading volume. Dogecoin followed in second with $1.6 billion, Stellar (XLM) at $1.3 billion, Ethereum Name Service (ENS) with $900 million, and Hedera (HBAR) recording $800 million.

Considering that these altcoins have seen price increases of 90%, 73%, and 168% respectively in the past week, it is evident how retail investor interest is boosting the market. These so-called “dino coins,” or older altcoins, are outpacing the rest of the market with strong performances.

The Effect of South Korea’s Trading Volume

Bitcoin funding rates remain around 15% annually, while the sudden surge in altcoin trading volumes has strengthened the belief that “altcoin season” has begun. Markus Thielen, founder of 10x Research, pointed out that the volume shift in the South Korean market could open up more opportunities in altcoin trading. He stated, “Retail investors capitalizing on the momentum are driving price volatility and pushing market trends.”

Is South Korea the Only Factor Influencing XRP?

Ripple (XRP) reached a year-high of $2.80 as of December 2, surpassing Solana and USDT in market value, securing third place. This impressive rise for XRP has been a steady climb from around $0.50 in the past month, as noted by TradingView data.

South Korea’s Crypto Climate

The performance of South Korea’s crypto market underscores the country’s growing influence on global trends. The ongoing “altcoin season” debate is being bolstered by activity in South Korea. XRP and other altcoins’ extraordinary price increases signal that the market momentum could continue.

Markus Thielen emphasized the need for a strategic and disciplined approach in response to these market fluctuations. “The volatility in crypto trading represents both risk and opportunity for investors. Therefore, having a clear strategy is crucial for riding these waves,” he added.

This surge in trading volume initiated by retail investors once again demonstrates how quickly dynamics in the crypto market can shift. While the start of the altcoin season remains a topic of discussion, South Korea’s impact on the market is becoming increasingly apparent.

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Interest in “High-Momentum” Altcoins Spikes

Markus Thielen, the founder of 10x Research, noted that South Korean traders have been heavily engaging with high-momentum tokens such as XRP, DOGE, ENS, and HBAR. According to the report, Ripple’s XRP token led the trading frenzy with a staggering $6.3 billion in volume. It was followed by Dogecoin ($1.6 billion), Stellar ($1.3 billion), Ethereum Name Service ($900 million), and Hedera ($800 million).

Thielen stated:

“These high-momentum cryptocurrencies are being driven predominantly by retail traders, capitalizing on and reinforcing momentum-driven trends.”

XRP, ENS, and HBAR, often referred to as “dino coins” due to their longstanding presence in the crypto market, significantly outperformed other tokens last week. These assets recorded impressive gains of 90%, 73%, and 168%, respectively.

Additionally, the report highlighted that Bitcoin’s funding rates remained “relatively mild,” sitting at 15% annually during this period.

With the noticeable uptick in altcoin trading activity, Thielen suggested that an “altcoin season” is already in motion:

“We are witnessing one of the largest divergences between Bitcoin’s relatively mild 15% annual funding rate and South Korea’s retail trading volumes surging to $18 billion. The action is clearly in the altcoin market, and everyone needs a strategy to catch these waves while remaining disciplined.”

XRP’s Historic Rally Continues

Ripple’s XRP token has been on a historic run, skyrocketing 436% over the past month and hitting a new yearly high of $2.80 on December 2, according to TradingView data. This surge propelled XRP past Solana and Tether in market capitalization, making it the third-largest cryptocurrency at the time of writing.

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Bitcoin Intraday Key Levels

The BTC/USDT pair has gained 2.1% in the last 24 hours and is currently trading at $95,493. If the rise continues, Bitcoin (BTC) may face resistance at $96,600. If a 4-hour close occurs above this level, the next resistance level will be $98,200. The support levels are $94,400 and $91,800, respectively.

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Ethereum (ETH): The ETH/USDT pair has gained 5.01% in the last 24 hours and is currently trading at $3,589. Resistance levels for ETH are $3,666 and $3,970. Support levels are $3,490 and $3,390.

Worldcoin (WLD): The WLD/USDT pair has gained 7.15% in the last 24 hours and is currently trading at $2.54. Resistance levels are $2.58 and $2.75. Support levels are $2.40 and, if the decline deepens, $2.25.

Tensor (TNSR): The TNSR/USDT pair has gained 12.24% in the last 24 hours and is currently trading at $0.62. Resistance levels are $0.66 and $0.77. Support levels are $0.56 and $0.50, if the decline continues.

Solar (SXP): The SXP/USDT pair has gained 3.28% in the last 24 hours and is currently trading at $0.39. Resistance levels are $0.41 and $0.43. Support levels are $0.37 and $0.33 if the decline deepens.

Trending Coins

In the last 24 hours, the most trending coins in the crypto market include Vector Smart Gas (VSG), GOGGLES (GOGLZ), and Thena (THE). The biggest gainers include Metaplex (MPLX), SPX6900 (SPX), and Ethereum Name Service (ENS). The biggest losers are Big Dog Flink (BINK), Just a chill guy (CHILLGUY), and Zerebro (ZEREBRO).

Bitcoin Liquidation Map

Looking at the 12-hour liquidation map of Bitcoin, the prominent liquidation is at $97,308 with $60 million on the upper side. On the lower side, there’s a liquidation at $94,801 with $29 million.

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“In 2023, Unstoppable Domains (UD) received a patent from ENS Labs for a technology developed as open source. Today, we filed the portfolio with the USPTO to challenge the existence of this patent and ensure that the web remains a collaborative space,” ENS said. he explained.

Provides domain name and budget services such as UD and ENS. ENS claims that UD patents “open source innovations that directly leverage ENS’s offering” and that ENS’s contributions are even patented.

“We offered UD the opportunity to avoid this war: UD refused to open source the patent and refused to engage in any irrevocable continuation of the patent despite its use in a way that was detrimental to the community,” ENS said. He continued on social media. “This is a battle we have to choose, but one we are fully committed to for the sake of the future of Web3.”

Response from Unstoppable Domain

Matthew Gould, founder of Unstoppable Domains, said, “Whether the ENS prior art was cited on the first page of the patent along with ENS’s resources, the patent was examined by the examiner with these references included, it was reported that the patent was valid and the patents’ Web3 and domain expertise were quite widespread.” ” said.

“We already submitted a liability declaration proposals about a year ago and we view that issue as resolved,” Gould said. He added and stated that the patent was valid.

In July 2022, Unstoppable Domains stated that Pantera Capital raised $65 million in a Series A round under their sovereignty, giving the company a valuation of 1 billion energy.

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In an exclusive interview with Cointelegraph at the ETHGlobal event, Johnson explained that ENS is a project that allows users to create human-readable Web3 addresses for their Web3 wallets. This means a major advancement for cryptocurrencies and non-fungible tokens (NFTs) as well as decentralized websites.

As a software engineer, Johnson, who is originally from New Zealand, was working at Google before he became interested in Ethereum. The programmable nature of Ethereum was one of the main reasons Johnson became interested in the platform. when compared to Bitcoin just being money, the programmability feature offered by Ethereum made it appealing, he explained.

After Johnson started coding personally on Ethereum, his strong background and tools in the Ethereum infrastructure allowed Johnson to create his own Ethereum strings library.

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String is a programming data type that represents text and usually contains letters, numbers, symbols, and spaces. Application software engineer Jeffrey Jenkinson described string manipulation as one of the most complex tasks in software.

The Ethereum Foundation eventually hired Johnson, encouraging him to start working on one of their initial projects, the name service. Johnson was assigned to remedy a deficiency in the Ethereum infrastructure and he noticed that naming content was necessary while working for the EthSwarm team.

Johnson’s project was supported by establishing a separate organization funded with a grant from the Ethereum Foundation. Johnson set a two-year roadmap with a small team and the project was further strengthened with the intervention of Ethereum’s co-founder Vitalik Buterin.

Johnson, who thought that the ENS project might fail without Buterin’s support, emphasized that Buterin’s intervention was a turning point ensuring the project’s success.

Since the launch of the ENS service, over two million ENS addresses have been registered. However, according to Johnson, this measurement is less important in measuring how often users use crypto addresses instead of DNS names. Johnson notes that focusing on factors such as the number of names, registrations, and renewals would be more accurate to better understand user preferences and adoption.

While a gradual increase in registered ENS addresses is expected, Johnson and his team are working to move the service to networks that can benefit from the Web3 utility. Johnson believes that ENS should support new distributed content networks where users are dense, and emphasizes that the service should help users achieve this improvement in terms of accessibility.

ENS plans to introduce the Ethereum layer-2 infrastructure in the next few years. Johnson hopes to make the service more user-friendly and predicts that ENS will provide easier integration and usage opportunities in the future.

The post Ethereum Name Service (ENS) Received Twice the Investment It Asked For appeared first on Coin Engineer.

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The upward trend in Bitcoin continues. The closing on the latest 4-hour chart is now above $42,000, and the next resistance level is set at $44,000. If this level is also exceeded and a closing is made above it, Bitcoin can try again to reach the $48,000 level.

Bitcoin and Cryptocurrencies: The Latest Status – January 29

Bitcoin (BTC): The BTC/USDT pair has gained 0.30% in the last 24 hours, trading at $42,140. The resistance levels for BTC are first $42,800, then $44,200. The support levels are $41,700 and $40,800 below this region.

Ethereum (ETH): The ETH/USDT pair has gained 0.36% in the last 24 hours, trading at $2,264. The first resistance level for ETH is $2,400, followed by $2,600. The support levels are $2,100 and $1,900.

Celestia (TIA): The TIA/USDT pair has gained 3.80% in the last 24 hours and is currently trading at $17.66. The resistance levels for TIA are first $18.24, followed by $19.72. The support levels are $16.48 and then $15.13.

Ethereum Name Service (ENS): The ENS/USDT pair has gained 2.66% in the last 24 hours and is currently trading at $18.96. The resistance levels for ENS are first $20.27, followed by $22.50. The support levels are first $18.44, followed by $15.90.

Tellor (TRB): The TRB/USDT pair has gained 2.49% in the last 24 hours and is currently trading at $114.79. The resistance levels for TRB are first $120.10, followed by $135.30. The support levels are first $111.91, followed by $103.03.

The post Bitcoin and Cryptocurrencies: The Latest Status – January 29 appeared first on Coin Engineer.

Now, let’s talk about when it all started. A smart engineer named Nick Johnson, who works at the Ethereum Foundation, came up with the idea for ENS. On May 4, 2017 he and all the other developers gave it the green light and that’s when ENS was officially released into the digital world.

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How Does It Work ?

In the world of cryptocurrencies, our wallet addresses look like a mix of letters and numbers and they can be really tricky to remember. For example, it could be something like 0x0bh25jg6.

After this confusion, Ethereum Name Service came up with a smart solution. They created ENS technology, which is like a special tool that works on the Ethereum blockchain.

Here’s the cool part: With ENS, you can have a much easier address with .eth extension, like coinmuhendisi.eth.

It’s like having a nickname for your wallet address!

So, instead of dealing with the long and confusing address like 0xC2o0in2uH1e5di, you get to use the simple and memorable coinmuhendisi.eth address. ENS makes payments and transactions super simple and convenient!

How to get Ethereum Name Service (ENS) ?

First, you’ll need an ethereum-based hot wallet. A popular one is called Metamask which works well for this.

If you’re not sure how to send coins to your wallet or do any of these steps, don’t be afraid! We’ve got you covered with a helpful video on our YouTube channel. It’ll guide you through the wallet installation process.

Head over to ens.domains and connect your wallet. Now you can search for the domain name you want to buy.

If your desired domain name is available, you can purchase it for as long as you like.

Keep in mind that domain names with 5 letters or more may have extra fees, so it’s better to choose a simple and short name that suits you.

ENS Token and Economy

ENS Token is all about decentralization, meaning decisions for the project are made by the team and the community together. It works within the Ethereum Name Service Network. If you have ENS Tokens, you get to vote on community initiatives. The more tokens you have, the stronger your voting power.

Now, let’s talk about the ENS Token Economy. There are 100 million tokens in total, but only around 28.6 million are currently circulating.

Here’s how the tokens are distributed:

• 50% in the DAO Community Treasury, with 10% released initially and the rest slowly over four years.
• 25% to .ETH holders, who get tokens through airdrops.
• 25% for contributors, with different amounts going to core supporters, selected integrations, future supporters, external supporters, startup advisors, key holders, active Discord users and translators.

If you want to get your hands on some ENS Coins, you can find them on various big cryptocurrency exchanges. Binance is a popular one and you can even get a discount by using the link provided. There are other exchanges where you can find ENS Coins as well, like Bybit and Bitget.

ENS Browsers

ENS Ecosystem

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