Step By Step Guide: How To Research L1 Blockchains

Plus where to find useful research tools and data about major layer 1 blockchains.

Photo by Copilot from Microsoft

In this article, I will show you how to research layer 1 smart contract platforms. What is the point of examining Ethereum, Binance Smart Chain, Avalanche, and other base networks?

In short: It’s not just about determining the investment potential of an L1 blockchain itself. It also analyses the basic potential for layer 2 solutions in the given network.

Let me explain why.

A good layer 1 network is the basis for successful layer 2 solutions

We can view layer 1 blockchains as different nations. They are independent of each other, each of them has its own data, network, consensus mechanism, ecosystem, etc. They can validate and finalize transactions without other networks. The stronger a ‘nation’ is, the better the conditions for all projects developed as layer 2 protocols.

The law of multiplying by zero comes to mind: In some cases, a single critical mistake or deficiency can cause the whole system to collapse. Meaning that the most promising layer 2 crypto project will fail if the underlying L1 blockchain is a piece of junk.

OK.

With the basic understanding in place, let’s get to the meat of this guide and go through the individual steps of researching L1 blockchains.

How-to Research L1 Blockchains step-by-step

To determine the quality of a layer 1 network, you need to assess a couple of key aspects. Let’s look at them one by one.

1. Developer friendliness

This refers to how easy or difficult it is for others to build solutions on top of a given layer 1 network. The following points are of relevance here:

• What is the chain’s programming language? An easy-to-learn programming language (or a blockchain that supports multiple languages) is more likely to attract developers.
• How good is the online documentation and are there a lot of (up-to-date) tutorials available? This makes it easier for developers to learn to build on the chain.
• What tools does the blockchain provide for developers of layer 2 applications? Think of software development kits (SDK), sandboxes, benchmarking tools, block explorers, smart contract compilers, debugging tools, etc.

Neo blockchain’s developer tools’ site. Source: https://neo.org/dev#tooling

To figure these things out, go to the L1 network’s website, and read their whitepaper and documentation.

2. Decentralization

Decentralisation is essential for blockchain security and its trustworthiness. What does decentralisation in this context mean? 

Ethereum founder Vitalik Buterin differentiates between 3 kinds:

1. There is no single point of failure (architectural decentralisation).
2. no individual or single organisation controls the whole system (political decentralisation).
3. The network can be cut into half and each half functions like an independent unit (logistical decentralisation).

To summarise, you’d want to see a high degree of decentralisation. However, keep in mind, that there is no project that is 100% decentralised.

Moving on.

These are the things you should research to assess how decentralized a layer 1 blockchain is:

• How many nodes are there? The more the better.
• Where are they located? The further they are geographically distributed, the better.
• What’s the share of the hash rate that individual mining pools hold in proof-of-work (PoW) networks?
• How big is the share of coins held by the top wallets in a proof-of-stake (PoS) network?

If you want to understand this topic better, here is an in-depth article I wrote about the decentralization of some of the biggest blockchains such as Bitcoin and Ethereum.

3. Security

Another very important aspect is how immutable a blockchain is. Most of us are not IT security specialists. That’s why we have to rely on developers, contributors, white-hat hackers, and others to make sure the blockchain’s code is free from bugs and risks. However, there are several questions we can try to answer:

• Can the blockchain withstand various attacks such as a 51% attack, Sybil attack, distributed denial of service attack (DDoS), etc.?
• It is also important for us to understand how different consensus algorithms work theoretically and what their advantages and disadvantages are. This in turn can help us to understand what kind of threats or attacks the blockchain could be facing.

By the way, have you already checked out my article about how to research cryptocurrencies? It’s the most extensive guide for free on the net!

4. Active users and daily transactions

You can build the best software ever. But if nobody uses it then it is nothing. That is why it’s important to get an understanding of user activity. These are the stats you should focus on:

• What’s the long-term trend of user numbers? A steady increase in active users is a good sign.
• What can you learn from the number of daily transactions? Again, what you’d want to see here is an increase in daily transactions.
• How many hodlers are there? This plays into the former two stats. While a certain percentage of people just holding the blockchain’s native currency is a good thing you don’t want too many people just hoarding coins without ever using them.

The get this information check out the list of resources I am sharing at the bottom of this article.

5. Transaction fees

Ideally, transaction fees should be affordable for users. Too expensive fees could have a negative impact on the chain’s development. However, it could also reflect how much users are willing to pay for the block space. Premium = more security.

6. DApps and ecosystem

This is a great indicator, because if we view each L1 blockchain as a nation, then the DApps built on them are like the economic sectors in the nation. For a nation to thrive, diversified industries and economic activities are essential. Also, a big and diverse ecosystem attracts investments and new solutions.

Go to dappradar to see the popular DApps for every L1 blockchain. This website also lists the number of users of each DApp.

But DApps are just part of the whole ecosystem. Other aspects include exchanges (centralized and decentralized), and infrastructure such as bridges, oracles, APIs, etc.

7. Developer activity

This information can be found from the project’s Github page. It’s a great source for insights, even if you have zero knowledge about programming. Here you can learn about the following things:

• How many active developers are contributing to the chain?
• How many commits are there per day?

Let’s take Solana as an example:

Solana Github page (Source: https://github.com/solana-labs/solana/graphs/contributors)

On the ‘Contributors’ page, you can see the contribution activity over time as well as who are the main contributors and during which time frame they are active.

In the ‘Commits’ and ‘Code frequency’ sections, you can check more details about the number of commits, additions, and deletions every week.

PS: the website Cryptomiso.com also summarizes Github commits information of 300 popular crypto projects.

8. Is the L1 network backed by VCs?

Institutional money is one of the easy to verify key indicators that tell you if a project is good or not. That’s because normally, VCs do their own in-depth research before they invest. However, being backed by a VC does not guarantee a project will be successful. The recent Terra debacle is a reminder of this.

9. Social media activity

To wrap things up, always take some time to check out a network’s social media accounts. Here’s what you can learn from taking a look at their Twitter, Telegram, Discord, etc.

• What are they talking about? Just shilling the project or discussing problems and improvements?
• Do they offer insights into road maps, development progress, etc.?
• It is not a good sign if the official social media accounts have not been updated for some weeks. It could be a sign that the team is running into problems or has abandoned the project.

Summary + Useful links of major L1 blockchains:

It is challenging to find all the information I have listed in this guide. For example, there is no website listing the active addresses of certain projects. Don’t worry too much if some information is too hard to dig up. Just try to gather as much data as possible in order to make a well-founded statement about the status of a project.

Here are some great resources you can use when researching some of the top layer 1 blockchains:

Ethereum:

1. https://etherscan.io/charts
2. https://messari.io/asset/ethereum/charts
3. https://www.ethernodes.org/countries

Solana:

1. https://solscan.io/
2. https://analytics.solscan.io/public/dashboard/8d888828-baae-47b9-948b-d087e5de1411
3. https://solanabeach.io/
4. https://explorer.solana.com/

Binance Smart Chain:

1. https://www.bscscan.com/charts

Avalanche:

1. https://stats.avax.network/dashboard/overview/
2. https://explorer-xp.avax.network/validators

Cardano:

1. https://messari.io/charts/cardano/act-addr-cnt
2. https://messari.io/charts/cardano/fees

Polkadot:

1. https://messari.io/asset/polkadot/chart/act-addr-cnt

Fantom:

1. https://ftmscan.com/charts

Algorand:

1. https://algoexplorer.io/top-statistics
2. https://metrics.algorand.org/#/

Cosmos:

1. https://atom.tokenview.com/en/charts

I hope you found this guide useful. Let me know in the comments about your thoughts and if you have any additions.

Cheers!For more articles I wrote on how to research crypto projects, please check out my list: https://ren-heinrich.medium.com/list/how-to-research-crypto-projects-5fd393fd0be8

10 Reason Why, Now is the Best time - You invest in Learning about Cryptocurrencies

 Hello everyone and welcome to my Blog - Tchize Matias the blog author. 

Today I will talk about 10 reasons why you should learn about cryptocurrencies. Cryptocurrencies are digital or virtual currencies that use cryptography to secure their transactions and prevent counterfeiting.

They operate on decentralised networks that are not controlled by any central authority, such as a government or a bank.

Cryptocurrencies have become very popular in recent years, and there are many benefits to learning more about them. Here are 10 reasons why you should learn about cryptocurrencies:

1. It creates career opportunities. Cryptocurrencies are not only a form of money, but also a technology that can be applied to various fields and industries. By learning about cryptocurrencies, you can gain valuable skills and knowledge that can help you find jobs or start your own business in the crypto space.  Many roles and positions require crypto expertise, such as developers, analysts, traders, marketers, educators, and more.

2. It is are silent technology. Cryptocurrencies are based on blockchain technology, a distributed ledger system that records and verifies transactions without the need for intermediaries. Blockchain technology is very secure, transparent, and efficient and can withstand attacks, censorship, and corruption. By learning about cryptocurrencies, you can understand how blockchain technology works and how it can be used to solve real-world problems.

3. It is an investment opportunity. Cryptocurrencies are not only a medium of exchange, but also a store of value and an asset class. By learning about cryptocurrencies, you can discover the potential and risks of investing in them. You can also learn how to diversify your portfolio, analyze market trends, and make informed decisions based on your own research and judgment.

4. It enables instant settlement. Cryptocurrencies allow you to send and receive money across the world in a matter of minutes or seconds, without the need for intermediaries or fees. This makes them faster, cheaper, and more convenient than traditional payment methods. By learning about cryptocurrencies, you can benefit from their speed and low cost and also learn how to protect your privacy and security online

5. It enhances online security. Cryptocurrencies use cryptography to encrypt and authenticate their transactions and data. This makes them very difficult to hack or tamper with, unlike conventional systems that rely on passwords or personal information. By learning about cryptocurrencies, you can learn how to use cryptography to safeguard your online activities and data.

6. It is an alternative to corporations. Cryptocurrencies are not issued or controlled by any central authority, such as a government or a corporation. They are created and governed by the people who use them, through a process of consensus and democracy. By learning about cryptocurrencies, you can participate in their creation and governance, and also support their social and environmental causes.

7. It is a global phenomenon. Cryptocurrencies are used by millions of people around the world, from different countries, cultures, and backgrounds. They transcend borders, languages, and barriers, and create a global community of users and enthusiasts. By learning about cryptocurrencies, you can join this community and connect with people who share your interests and values.

8. It is a source of innovation. Cryptocurrencies are constantly evolving and improving, thanks to the creativity and ingenuity of their developers and users. They introduce new features, functions, and applications that challenge the status quo and offer new possibilities for the future. By learning about cryptocurrencies, you can witness and contribute to their innovation and progress.

9. It is a form of education. Cryptocurrencies are not only a technology, but also a discipline that encompasses various fields of study, such as mathematics, computer science, economics, finance, law, sociology, psychology, and more. By learning about cryptocurrencies, you can enrich your knowledge and broaden your perspective on these subjects.

10. It is fun and exciting. Cryptocurrencies are not only useful and practical, but also fun and exciting to learn about. They offer a lot of entertainment value through their games, memes, art, culture, humour, and more. By learning about cryptocurrencies, you can enjoy their fun side and have a good time.

These are 10 reasons why you should learn about cryptocurrencies. I hope you found this blog article helpful and informative. If you did, please like, share, subscribe, and comment below on what you think about cryptocurrencies or what topics you want me to cover next time.

Thank you for reading my blog post, I truly hope this content is useful for you.

🅱️ Bitcoin Headed To $100,000!!! FOMO! Warning! Must Read!

There is no need to panic, cancel any trades or act fast; there is always time... Did we miss the bullish wave?

Indeed, Bitcoin is now showing multiple very strong bullish signals and this is no cause for alarm; Bitcoin being bullish is always good for us and the Cryptocurrency market as a whole. We love Bitcoin/Crypto!

First, the chart:

➖ Bitcoin closed weekly full green and back above EMA10. This means that the bulls are in full control when it comes to the short-term potential. Where the action is headed next.

➖ Next, Bitcoin is trading above $60,000 which is ultra-bullish and after months of a strong distribution/consolidation phase...

What will happen next?
What happens now?

👉 Yes Bitcoin is bullish and set to move to $100,000 and much, much higher in the long term but, regardless of the short-term noise, we will see a crash in the coming days.

Bitcoin is likely to produce a lower high, not move higher and retrace to hit new lows before the major bullish wave. This fact doesn't change even though, Bitcoin is bullish!

Thanks a lot for your continued support.

Namaste.

........
🅱️ Impossible To Predict: Mixed Signals

What we've been seeing lately is a quite complex situation and one of the hardest, if not the hardest of all, to predict based on Technical Analysis. Bitcoin is mixed!

Mixed because we have a mixture of bullish and bearish signals.
➖ Bullish technicals, with bearish potential.
➖ Bullish conditions with bearish developments.

With a more than two months long consolidation pattern, Bitcoin can go either way.
A consolidation pattern can be either bullish or bearish, but it is a very well known fact that a consolidation pattern can only be confirmed after the breakout.

Say a pattern has a 60/40 chance, or even 80/20 between bullish and bearish and yet the bearish side, even with the lower potential can develop. In reverse, a bullish breakout can happen a time.

The market is mixed 50/50 based on this and other signals, I can expand, and this is a very annoying situation for traders and holders alike. What will you do knowing this?

There are tens of thousands of Altcoins trading pairs and these will start fluctuating even more when the next breakout comes.

The majority of the Altcoins are set to produce a major crash, another crash which will lead to the final support being established, the correction bottom low.

Now, some people are in a bit of a hurry to see prices moving down or up but that's not how the market works. The market tends to take its time and only when most people break will the market move.

Right now things are not clear but Bitcoin can go up, up, up... Bitcoin can go up.

The next major move is a very, very strong drop... It can happen within 6 days just as it can take 3-4 weeks but not much more. (Mid-June 2024 for the bottom.)

You can wait for the breakout and profit all the way to $100K.
Smart readers will either stay out or wait patiently because it is much wiser to wait for the crash rather than buying to see everything drop the next day.

It doesn't matter what the market does next and that we cannot predict... But we can prepare because we know that action is always going on. Instead of looking for the next big one, the 10,000%+, we focus on daily wins, a winning strategy and this winning strategy can produce positive long-term results.

I remember back in those days when I used to focus on the short-term.
I would go to the 5-minute chart, 15 minutes can "confirm" whatever I was seeing, over and over, and yet somehow the market always moved the other way.

My efforts were a pure waste, of energy, because the bigger picture didn't change no matter how much my anxieties and stress built up.

So, instead of trying to guess the next move of the market why not prepare for both scenarios knowing that what goes down, must move back up.

➖ Bitcoin has been rising since day 1.
➖ Bitcoin has been moving up since it was created, since its first trading day.
➖ Bitcoin will continue growing, there is no doubt, so why would anybody worry about a correction that will only last a few days?

It is impossible to predict the future but Bitcoin is soon going down, would you like to bet?

Namaste.

..................

A friendly piece of advice based on more than 10 years of trading experience...

Hello dear Cryptocurrency lover, I am back sharing some of my experiences with you today. I am hoping that you find this information useful for your learning journey.

Problems arise due to the expectations we hold.

Say what you will, but if you are buying/holding Cryptocurrencies, Bitcoin, you are likely doing so with the expectation of making money (speculation).

Having the wrong expectations can wreak havoc on your mental and financial well-being if things do not develop according to what we predict. So the first thing we do is to remove all expectations.

Say you are buying an Altcoin trading pair intending to earn 150% from a bullish move; or an up-move.

You decide to buy this pair now and sure enough, the market starts to grow.
Say the market grows for 1 week, 2 weeks straight up... It tends to fluctuate as seen on the chart but for the sake of simplicity let's say the market moves up 80% and then stops.

The market can grow for 2-3 weeks straight for a total of 100% and then reverse fully.
While the initial move went up, it did not reach our 150% target so we ended up holding and the ensuing correction can lead to a flash crash and then a waiting of four months before prices move back up to the initial entry level.

One can buy and see 20% up, 30% up fast and then things start to reverse... What was once an easy and fast win, can turn into a long-term hold or into a loss because we can have a 50% target but the market only grew by 40%... Let's clarify this example now using Bitcoin.

Imagine you buy Bitcoin at $65,000 with a LONG bias.
Say Bitcoin grows and hits $73,000; are you going to sell?

Say Bitcoin grows even higher and hits $84,000, 20% higher compared $70,000; are you going to sell?

Because Bitcoin can go up 20% but then reverse and move to $60,000.
Now, $60,000 is below the $65,000 entry level in this example; what would you do now? Hold or take the loss?

What if Bitcoin moves then to $50,000?

Remember, it did move up to $80,000, $90,000, etc. in this example before moving lower, but we didn't sell in expectations of higher prices!

What if $50,000 breaks as support and Bitcoin moves to $40K? Sell now or hold?

Will Bitcoin move from $40,000 to $100,000?
Or will Bitcoin move from $40,000 to $20,000?

It is impossible to know.

This is what we know with 100% certainty!

You were not around in early 2023.

Where were you in early 2023 when Bitcoin was trading below $20,000?
Why not buy at this amazing price when the chart was ultra-bullish?

You see, Bitcoin and the Cryptocurrency market never move straight up!

Do this, go open the chart as BTCUSDT.
Choose the weekly timeframe and look at January 2018. What do you see?

After a massive period of growth, we get a massive period of prices moving down.

Don't believe it?
Let's try again.

Look at November 2021? What do you see?
After a very strong period of growth, we get a massive correction lasting years not months.

Look now at early 2024!
Bitcoin grew from November 2022 through March 2024.
After massive growth, a very strong correction tends to follow.

Did you ever see a bullish article on television, the news, or the media; telling you to buy Bitcoin at $16K?

Have you ever seen a news article telling you to sell Bitcoin in 2021 when it was at the top at 69K? No!

All these articles tend to reflect what is happening in the moment and what is happening in the moment is already priced in, the market is looking for the next move when most people become active.

The reason why the majority is always wrong is that they only hear about things such as Bitcoin, this market after it is already high up.

The best time to buy is when prices are down, not at the top.

Say you are a long-term holder and you want to buy Bitcoin for the long-term, so you don't care; Still, it is better to buy at $40,000, $30,000 or $25,000 rather than buying at $60,000 or $70,000... Makes sense?

How far up can it go?

Do this exercise... Visualize Bitcoin going up, up, up... How far up can it go?
$150,000? $200,000? $400,000?

Will you sell?
If yes, when and by how much?
Would you sell everything or just a portion?
Do you see how complex it is?

It becomes extremely easy when you buy at the bottom and sell as prices increase.
Patience is key!

Thanks a lot for your continued support.

Note: Just wait, the market is not going anywhere... I sold everything long ago.
We will see in 2-3 weeks' time if the bottom of the correction is already in or if we will get a new market bottom low... I am betting on a new low, what about you?

Share your thoughts in the comments section below.

Namaste.

................................

The Ethereum condition right now is quite revealing. The analysis has been shared in a different trade idea. Bitcoin and Ethereum's situation is the same... Look at this:



This is Bitcoin on the daily timeframe; notice:

➖ TD Sequential perfect nine (bearish).
➖ Lower high still in place.
➖ Low volume on yesterday's strong bullish move. Such a strong move, set to move higher, would produce an "above-average" trading volume day. Instead, the daily volume is low.

Of course, things can change but so far the bearish potential remains intact.
It remains intact below 72/74K.

👉 We continue bearish an expect the pre-2025 bull-market correction.

Patience is key.

Namaste.

.................................

Being honest and straight forward, can you imagine the amount of pain that can be caused if this is it?

Here is the weekly timeframe:

What do I mean with "this is it?"

TradingView's Bitcoin index chart is the best because of the volume. It uses a combination of volume from multiple exchanges giving us a better picture as to what is really happening with the market action.

Is this it?

We've been tracking this amazing asset, Bitcoin, and we've been expecting a correction.
The peak/ATH remains at March 2024.

The longer it takes for prices to drop, the stronger the potential for the ensuing move.
👉 Since Bitcoin's bearish potential remains intact while Bitcoin has been above 60K for 3 months; the ensuing correction can turn into a crash rather a "normal correction."

Notice the wording on the latest Ethereum news release, it says, "People are buying the rumour..."
The rumour for the SPOT ETF... Reminds me of something, "Buy the rumour, sell the news!"

The current situation is interesting to say the least, for both bulls and bears.

The last two weekly sessions have no volume.
Both candle's volume is very low.

We use volume to identify a move; real or fake?
By fake we mean a "short squeeze." This means that prices are moving up as a whales-market move to liquidate leveraged traders. Once the SHORT trader's liquidation is over and done, Bitcoin will resume its move down and produce a new lower low.

A lower low compared to $56,500... 👉 Which means that Bitcoin will soon trade below 50K.

Remember, we have all the days left in May and also June for the main low to be in... It can be wild, don't get trapped in this mixed situation, read the previous updates and make sure to do your research, take your time to plan and study because the market is not going away.

Since Bitcoin is here to stay; Since we are buying and trading Bitcoin long-term; It is better to wait for the best prices before making any moves... When in doubt, sit it out.

You can thank me later...

Think about it, do you really belief it will move straight up?
If yes, what's the next final target?

Is it $76,000, $84,000, $90,000 or more?

If you say more and Bitcoin does move up and hits $100K, will you sell or hold?

That's my question for you... Try to answer in the comments below but also consider, what would you do if there is no new highs and Bitcoin crashes toward the low 20Ks?

These last questions are not a prediction; we prepare for all scenarios, bearish and bullish. So I am trying to share our experience with you... It is not just me, there are thousands and thousands of us that have been here for many years and want you to avoid the discomfort that we had to go through when we were in the same situation but years ago.

Anything can happen but the chart doesn't look great for LONG.
The chart looks good for selling, SHORT or HOLD.

I am waiting, literally... We will see based on the results.

The Altcoins will be mixed as they continue to be mixed now, just as predicted and it will get worse.
We will have pairs going up, others going down while others go sideways... This is good for trading not bad, because we know there are always opportunities for growth.

We are seeing some pairs 50% down, while others are 80% up.
We are seeing new highs being hit, as well as new market bottom lows.

👉 We buy the low ones and sell those high up.

Sounds good to me, how does that sound to you?

The universe will bless those who dedicate time and energy to learning, preparation and personal growth. This is the recipe needed for success in the 2025 Cryptocurrency bull-market but this bull-market that ends in 2025 will start in 2024.

Just one more final drop; After this drop several major shakeouts (be aware of 2-3 additional swings after the low is in), and after the shakeouts UP WE GO!

The most important of all the signals, details and actions to consider is...

Love & support.
I'll give you the content and you send me love.

Namaste...

This Article  - All Rights goes to original Author - @ Mr AlanSantana

Binance Earn vs DeFi: Which is Right for YOU in 2024?

Introductions

The world of cryptocurrency continues to evolve at a rapid pace, offering new and innovative ways to not only invest in digital assets but also earn passive income on them.

Two prominent options within the Binance ecosystem are Binance Earn and DeFi Yield Farming. But for the average investor, navigating these choices can be akin to deciphering a complex financial newspaper.

Fear not, intrepid crypto explorers! This article will act as your financial compass, guiding you through the nuances of Binance Earn Crypto Rewards and Binance DeFi Yield Farming, ultimately helping you decide which path is right for your investment goals and risk tolerance.

Binance Earn: A Haven for Crypto Cosmonauts

Imagine a scenario where your idle stack of crypto transforms into a passive income machine. This is precisely the allure of Binance Earn, a user-friendly platform designed for both seasoned investors and crypto novices. Here, you can deposit your holdings into various programs, effectively putting them to work while you focus on other endeavours.

Savings: The Low-Risk, Steady Orbit

Think of Binance Earn Savings option as your crypto's cosy retirement plan. Here, you lock up your digital assets for a predetermined period and earn a stable interest rate. This approach is ideal for investors seeking a safe and reliable source of passive income, similar to a high-yield savings account but tailored for the cryptocurrency age.

Staking: Contributing to the Blockchain Galaxy

Staking on Binance Earn takes a more participatory approach. By depositing your crypto, you essentially contribute to the validation process of a blockchain network. In return for your support, you're rewarded with new coins – akin to receiving dividends on the future of finance!

This method offers the potential for slightly higher returns compared to Savings, but it's crucial to understand that the specific rewards can fluctuate.

Locked Staking: Boosting Your Crypto's Engine

For those seeking to maximise their returns on Binance Earn, Locked Staking presents a tempting proposition. Here, you commit your crypto for a longer time frame in exchange for amplified interest rates. 

Think of it as putting your crypto into a metaphorical hyperbaric chamber, accelerating its growth potential. However, this strategy comes with the caveat of reduced flexibility, as you cannot access your holdings until the lock-in period expires.

Venturing into the DeFi Frontier: Binance DeFi Yield Farming

For the crypto-savvy astronauts among you, Binance Earn offers access to the world of DeFi Yield Farming. This realm, akin to the Wild West of the crypto universe, promises potentially higher returns but also carries a greater degree of complexity. 

Here, you essentially become a liquidity provider for DeFi protocols, the intricate plumbing that powers decentralised finance. Imagine renting out your crypto spaceships to other space travellers, who in turn pay you fees for the privilege of using them.

Understanding the Risks and Rewards of DeFi

While the potential rewards of DeFi Yield Farming can be astronomical, it's essential to acknowledge the inherent risks before setting sail. A concept known as "impermanent loss" lurks within DeFi.

This refers to the possibility that the value of your crypto might fluctuate while it's locked in a DeFi protocol, potentially leading to lower returns than initially anticipated. Therefore, meticulous research is paramount before venturing into DeFi, just like a seasoned astronaut meticulously plans a mission to Mars!

Choosing Your Path: A Matter of Risk Tolerance

So, which Binance Earn option is most suitable for you? If you're a crypto newcomer embarking on your maiden voyage, Savings or Staking might be your most comfortable landing pad. These options offer a balance of accessibility and returns, making them perfect for building a foundation in passive crypto income generation.

However, if you're a seasoned investor with a higher risk tolerance and a thirst for adventure, DeFi Yield Farming could propel you towards potentially stellar returns.

Remember, the cardinal rule of any investment strategy – never invest more than you can afford to lose – holds true in the crypto world as well.

The Final Frontier: A Decentralised Future Awaits

The landscape of crypto earnings is constantly evolving, and Binance Earn remains at the forefront of innovation. By offering a spectrum of options, from the low-risk haven of Savings to the potentially lucrative terrain of DeFi Yield Farming, Binance Earn empowers investors of all stripes to participate in the decentralised financial revolution.

So, chart your course, choose your Binance Earn program wisely, and embark on your journey towards a future fueled by passive crypto income!

🔔Everything You need to Know about Ethereum ETF🔔

 

🌐Today seems to be the time to decide about the Ethereum ETF. (⚠️The cryptocurrency market may get excited when the result is announced, so be careful with your positions⚠️).

🔔Let's take a look at what happened to Bitcoin when the Bitcoin ETF was adopted.

When the Bitcoin ETF was approved, Bitcoin corrected about ➖20% and this correction lasted about 12 days. This happened seemed to express the proverb, "Buy the Rumor, Sell the News".👇

💡So there is a possibility that if Ethereum ETF is approved, Ethereum will be corrected for a while like Bitcoin.

📊Now let's check the Ethereum chart.

🏃‍♂️Ethereum has managed to break the 🔴Heavy Resistance zone🔴 (now the 🟢Heavy Support zone($3,580-$2,930)🟢) of Ethereum with the help of the Classic Falling Wedge Pattern. It is currently moving near the 🔴Resistance zone($4,380-$3,950)🔴.

🌊According to the Elliott wave theory, Ethereum seems completed the microwave 3 of main wave 3. Ethereum seems to be completing microwave 4 of the main wave 3 right now.

📈Let's look at the ETHBTC chart and see how much Ethereum will be affected by the growth or decline of the cryptocurrency market.

📈ETHBTC seems to be trying to break the important Resistance line and Resistance zone, and this is a good sign for Ethereum and most altcoins. If the cryptocurrency market starts to increase, it seems that Ethereum will get a larger share of this increase. It could be a sign for Altseason.

📈But right now it seems that ETHBTC should have a correction to the Support zone or Fibonacci lines.👇

🔔According to the above explanations, it seems that if you want to add Ethereum and other Altcoins that are on the Ethereum network to your portfolio, it is better to wait for Ethereum to reach the 🟢Heavy Support zone($3,580-$2,930)🟢, if ETHBTC also corrects at the same time, it will be a more suitable situation.

🔔If you want to open a position on Ethereum, it is better to have a short position, because if Ethereum ETF is approved, the same scenario as Bitcoin may happen to it, and if it is not approved, the possibility of a fall is very very high, so the risk of a short position may be less now. What is your idea❗️❓

❗️⚠️Note⚠️❗️: If the Ethereum ETF is not approved, you better wait because Ethereum is likely to lose the 🟢Heavy Support zone($3,580-$2,930)🟢, and this shock will also affect Bitcoin and other Tokens.

❗️⚠️Note⚠️❗️: An important point you should always remember is capital management and lack of greed.

Ethereum Analyze ( ETHUSDT ), 4-hour time frame ⏰.

- Do not forget to put Stop loss for your positions (For every position you want to open).

Please follow your strategy; this is just my Idea, and I will gladly see your ideas in this post.

Please do not forget the ✅' like'✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.

Ethereum is likely to touch the Heavy Support zone($3,580-$2,930) once again.

Follow this ascending channel in a one-hour time frame.

Fibonacci lines work well.
May 27
Comment:

In my opinion, Ethereum will go down to at least $3869 and touch the Uptrend line again.
13 hours ago
Trade closed: target reached:

Ethereum was able to touch $3869, as I expected, and break the Uptrend line; the next target could be $3750.