NFT MARKET WEEKLY OVERVIEW
Within the last week, the following changes on the NFT market occurred:
🔹 Total NFT Market Cap increased by $300M up to $11.6B
🔹 Yield Guild Games $YGG increased its price by 33.4% and got 1st place in the Top NFT Coin Price Gainers
🔹 The most expensive NFT sale was CLONE X #9418 (Clone X) with a deal price of $360K.
Within the last week, the following changes on the NFT market occurred:
🔹 Total NFT Market Cap increased by $300M up to $11.6B
🔹 Yield Guild Games $YGG increased its price by 33.4% and got 1st place in the Top NFT Coin Price Gainers
🔹 The most expensive NFT sale was CLONE X #9418 (Clone X) with a deal price of $360K.
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Trade $FLOKI, the People's Cryptocurrency, on #KuCoin, the People's Exchange
tamilbtc.com/kucoin
📍#Bitcoin Update (Continue)
🔺Bitcoin shows a descending triangle on the 1-hour chart, a bearish pattern.
🔺Price hit the upper triangle trendline.
🔺Possibility of resistance, leading to a potential price decline.
🔺Decline may trigger a breakdown of the triangle pattern.
🔺Key support at around $28,800.
- - - - - - - - - - - - - - - - - -
📍 Pin Our Channel On Top For More Free Trading Calls
🔺Bitcoin shows a descending triangle on the 1-hour chart, a bearish pattern.
🔺Price hit the upper triangle trendline.
🔺Possibility of resistance, leading to a potential price decline.
🔺Decline may trigger a breakdown of the triangle pattern.
🔺Key support at around $28,800.
- - - - - - - - - - - - - - - - - -
📍 Pin Our Channel On Top For More Free Trading Calls
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Airdrop soon - ?
JUST IN: 🇺🇸 SEC will not approve a spot Bitcoin ETF, former SEC chief says.
[MEXC Kickstarter] Win Free 2,307,692 REAP & 20,000 USDT Airdrops by Voting Now!
Dear MEXC Users,
📣[Initial Listing] MEXC Kickstarter - Vote Releap Protocol (REAP) to Win Free 2,307,692 REAP & 20,000 USDT Airdrops!
⏰Voting Period: 2023-08-13 10:00 to 2023-08-14 09:50 (UTC)
👇🏻Registration Eligibility:
Hold at least 1,000 MX or more for 15 consecutive days before 2023-08-12 16:00 (UTC)
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Dear MEXC Users,
📣[Initial Listing] MEXC Kickstarter - Vote Releap Protocol (REAP) to Win Free 2,307,692 REAP & 20,000 USDT Airdrops!
⏰Voting Period: 2023-08-13 10:00 to 2023-08-14 09:50 (UTC)
👇🏻Registration Eligibility:
Hold at least 1,000 MX or more for 15 consecutive days before 2023-08-12 16:00 (UTC)
tamilbtc.com/mexc
Educational Post:
What is Staking Pool?
A staking pool allows multiple stakeholders (or bagholders) to combine their computational resources as a way to increase their chances of being rewarded. In other words, they unite their staking power in the process of verifying and validating new blocks, so they have a higher probability of earning the block rewards.
The overall idea of the staking pool model is quite similar to the traditional mining pool, which involves the pooling of hash rate in a Proof of Work (PoW) blockchain. However, the staking pool setup is only available on blockchains that employ the Proof of Stake(PoS) model or, in non-POS systems through protocol design features.
Typically, a staking pool is managed by a pool operator and the stakeholders that decide to join the pool have to lock their coins in a specific blockchain address (or wallet).
While some pools require users to stake their coins with a third party, there are many other alternatives that allow stakeholders to contribute with their staking power while still holding their coins in a personal wallet. For instance, the so-called cold staking pools enable a more secure model, as users can participate in the staking process while keeping their funds on a hardware wallet.
Compared to solo staking, a staking pool will give smaller rewards because each successful block forging (validation) will split the rewards among the many participants of the pool.
In addition, most pools will charge fees, which will reduce even more the final payout. On the other hand, staking pools provide more predictable and frequent staking rewards. Other than that, they allow stakeholders to make a passive income without having to worry about the technical implementation and maintenance of setting up and running a validating node.
What is Staking Pool?
A staking pool allows multiple stakeholders (or bagholders) to combine their computational resources as a way to increase their chances of being rewarded. In other words, they unite their staking power in the process of verifying and validating new blocks, so they have a higher probability of earning the block rewards.
The overall idea of the staking pool model is quite similar to the traditional mining pool, which involves the pooling of hash rate in a Proof of Work (PoW) blockchain. However, the staking pool setup is only available on blockchains that employ the Proof of Stake(PoS) model or, in non-POS systems through protocol design features.
Typically, a staking pool is managed by a pool operator and the stakeholders that decide to join the pool have to lock their coins in a specific blockchain address (or wallet).
While some pools require users to stake their coins with a third party, there are many other alternatives that allow stakeholders to contribute with their staking power while still holding their coins in a personal wallet. For instance, the so-called cold staking pools enable a more secure model, as users can participate in the staking process while keeping their funds on a hardware wallet.
Compared to solo staking, a staking pool will give smaller rewards because each successful block forging (validation) will split the rewards among the many participants of the pool.
In addition, most pools will charge fees, which will reduce even more the final payout. On the other hand, staking pools provide more predictable and frequent staking rewards. Other than that, they allow stakeholders to make a passive income without having to worry about the technical implementation and maintenance of setting up and running a validating node.