A Top Trader Made Over $700,000 On Binance Futures Last Month. Here’s How You Can Follow His Trades in Real-Time.

 

A Top Trader Made Over $700,000 On Binance Futures Last Month. Here’s How You Can Follow His Trades in Real-Time.

In the course of the last month, YardThoseCheap, a top-merchant on Binance Futures, made $712,126.62. 

On the Binance Futures leaderboard, you can follow YardThoseCheap to see each exchange he makes and follow other top brokers on Binance. 

What is Binance Futures Leaderboard? 

Binance Futures Leaderboard is a mix of informal community and digital currency exchanging that permits you to communicate with our foundation's best dealers. Leaderboard works by associating fledgling and experienced dealers to be essential for a local area that shares thoughts and gives bits of knowledge into market feelings. 

Albeit somewhat new, the leaderboard has in no time acquired footing with beginner brokers, empowering them to depend on the accomplishments of the best merchants in the crypto world. 

Step by step instructions to begin with Leaderboard 

Binance Futures Leaderboard gives you admittance to an exchanging local area and experiences into how the best dealers explore the market. The stage can be valuable to get data on market feeling encompassing specific crypto resources as you'll gain admittance to places of others should they decide to share. 

So moving right along, we should make a plunge on how you could get everything rolling with Leaderboard right away. 

To begin, make your profile by picking a symbol and username. Having a profile empowers you to impart your positions and exchanging execution to other people. Besides, you can even associate your profile to your web-based media account. This implies you can impart your accomplishments to a more extensive crowd past Binance — all with a basic snap of a button. 

The leaderboard additionally permits you to construct your social exchanging profile, including all capacities recorded beneath: 

Modify your presentation name 

Pick a symbol 

View your position (ROI/PNL) - Yesterday/Weekly/Monthly/All-time 

View ROI/PNL expected to arrive at the following identification 

Identifications procured (ROI/PNL) 

Search clients by show name 

View top 100 merchants by ROI and PNL 

View your positions 

View following/supporters list 

The leaderboard additionally empowers you to actually look at your exchanging execution and recorded returns across different time spans like Daily, Weekly, Monthly, and All Time. It additionally assesses your exchanging records dependent on the two fates items accessible on Binance (USDT-M and COIN-M fates); this provides you with a superior comprehension of your advancement over the long haul. 

Check your most recent PNL and ROI brings now back! 

The leaderboard permits you to openly share your positions. Any Binance Futures client can follow and monitor those positions. With this component, different dealers might duplicate your exchanges and find out with regards to your dynamic cycles. 

Furthermore, the leaderboard is a stage where capable brokers can acquire acknowledgment and status inside the crypto exchanging local area. The more effective and beneficial you are, the higher you rank in prevalence. 

A top merchant on Binance Futures, YardThoseCheap, who broadly made more than $700,000 last month, freely shares his positions. Through his accomplishments, the broker has become well known as probably the best merchant on Binance Futures. 

Look at YardThoseCheap's profile here. 

Besides, by sharing exchange thoughts, you are probably going to draw in similar brokers who share a similar view as you; this approves your exchanging thoughts. Exchange approval is one of the vital parts of exchanging to assist you with accomplishing consistency. 

Through this stage, the local area has experiences on who are the top brokers in the business and ability much cash they rake in consistently. There are a lot more merchants actually like YardThoseCheap who reliably make six-calculates each month. Do look at them here. 

The leaderboard positions the best 100 most productive merchants on Binance Futures by ROI and P&L. You can see the merchants' P&L or ROI execution at various time spans like Daily, Weekly, Monthly, or All-Time. This implies that you can follow how much these top dealers make each week or month. 

Brokers can acquire identifications dependent on their ROI or PNL rankings, the different identifications accessible are as per the following: 

Gold - Rank 1 to 5 

Silver - Rank 6 to 10 

Bronze - Rank 11 to 20 

Blue - Rank 21 to 100 

Green - Rank 100+ 

join now

Every single procured identification and accomplishments can be shared openly through friendly sharing capacities. By sharing your achievements, you might actually acquire devotees and similar crypto dealers. Snap here to make and share your leaderboard today! 

To rank on the Binance Futures leaderboard, you will initially have to have opened a Binance Futures account. In the event that you don't have one yet, you can tap on the picture underneath to enlist. 

For those hoping to work on their exchanging, leaderboard offers the opportunity to take in systems and exchanging thoughts from the best brokers on Binance Futures. You'll join a main synergistic local area of brokers and financial backers — a spot to interface, share, and learn. 

Customarily, most brokers play out their own key and specialized examination. With new innovation, merchants would now be able to notice and imitate the examination of others. You could see the places of productive dealers just as the passage cost of each position should they decide to share them openly. This is particularly helpful for amateur dealers who need to repeat these exchanges their portfolio. Such strategies can help merchants who don't have the opportunity to follow the business sectors themselves. All things being equal, they attempt to reflect exchanges of fruitful brokers. 

In case you are new to the universe of crypto-prospects exchanging, you are probably going to take things slow while you figure out how to exchange beneficially. While there is positively nothing off about this, suppose you could begin creating gains directly consistently! By following the exchanges of others, you basically have a prepared crypto broker holding your hand and strolling you through each exchange. It just doesn't beat that! 

At long last, there are no restrictions to who you can follow. There are many experienced and productive merchants on Binance Futures, each with their extraordinary way of exchanging. This implies that you'll have the option to make the best determinations from the best merchants in the crypto world. 

Last Thoughts 

Binance Futures Leaderboard is an incredible stage to assist fledglings with a certifiable premium in figuring out how to exchange. It permits them to interface with specialists, investigate different methodologies, and better comprehend distinctive exchanging systems. 

Albeit social exchanging might conceivably assist with shortening your expectation to absorb information, it does as such to the detriment of involvement. In this way, ensure that you get what you are doing and have a suitable danger the executives technique set up. 

Albeit the systems of others can be utilized to make a few rules for your exchanges, you should make your very own exchanging plan that is special to you and your objectives. Everybody has diverse danger hungers and capital accessible, so exchanging the way another person would isn't generally a smart thought.

JOIN NOW

 

Market Wrap: Bitcoin Stabilizes as Altcoins Take the Lead

BTC was up 2% over the past 24 hours, while CAKE rallied 20% and ApeCoin dropped 80%.

Bitcoin (BTC) held steady around the $40,000 price level on Thursday while several alternative cryptocurrencies (altcoins) took the lead.

The rise in altcoins over the past few days suggests a greater appetite for risk among crypto traders. BTC and ether (ETH) were up 2% over the past 24 hours, compared with a 20% rally in PancakeSwap (CAKE). But there were some misses, especially in ApeCoin, the token linked to the popular Bored Ape Yacht Club (BAYC) non-fungible token (NFT) collection, which dropped as much as 80% on Thursday.

Despite occasional rallies and crashes, it appears that major cryptos (large market capitalization) such as BTC and ETH are stabilizing after a volatile past few days.

Global equities are also higher, especially in Asia, after China's government pledged support for its stock market on Wednesday. Some analysts expect China's central bank to maintain low interest rates this year, which could keep the economy afloat despite the rise in COVID-19 cases and geopolitical woes.

And on the macro front, analysts expect limited upside for the U.S. dollar, which could be positive for bitcoin over the short term.

"The U.S. dollar has appreciated since Russia began its invasion of Ukraine, which is not a surprise given that the greenback has a track record of appreciating in response to geopolitical events," MRB Partners, a global investment research firm wrote in a report. "However, this strength has generally been followed by a consolidation phase."

Latest prices

●Bitcoin (BTC): $40,827, +0.15%

 

●Ether (ETH): $2,824, +2.96%

 

●S&P 500 daily close: $4,412, +1.23%

 

●Gold: $1,936 per troy ounce, +1.49%

 

●Ten-year Treasury yield daily close: 2.19%

Bitcoin, ether and gold prices are taken at approximately 4pm New York time. Bitcoin is the CoinDesk Bitcoin Price Index (XBX); Ether is the CoinDesk Ether Price Index (ETX); Gold is the COMEX spot price. Information about CoinDesk Indices can be found at coindesk.com/indices.

Bitcoin's trading activity remains relatively low across major exchanges, according to CoinDesk data.

The recent peak in BTC volume was seen on Wednesday when the U.S. Federal Reserve's rate hike triggered 5% price swings. Still, trading activity has been low relative to prior volume spikes such as the price sell-off in late January and the beginning of the Russia-Ukraine war in late February.

Critical levels

Some analysts have increased their price targets for bitcoin, while others remain cautious because of ongoing macroeconomic and geopolitical risks.

"The Fed rate hike was not damning enough to worry crypto investors, hence solidifying renewed buying spirit," Alexander Mamasidikov, co-founder of mobile digital bank MinePlex, wrote in an email to CoinDesk. Mamasidikov expects selling pressure to subside toward the end of the second quarter, and has a price target at $50,000 for BTC.

Still, bitcoin will need to make a decisive break above the $40,000 psychological barrier to trigger an increase in buying activity. So far, volatility hasn’t been particularly high "taking into account a barrage of largely negative news over the past few days with COVID-19 cases rising and China’s Shenzhen province going into lockdown," Mikkel Mørch, executive director of ARK36, a crypto investment fund, wrote in an email.

Generally, the narrative of bitcoin as a safe haven and store of value has been consistent across some analyst commentary despite the recent decline in a risk-off environment, similar to what occurred in 2018 and 2020.

Despite short-term stabilization, bitcoin's market capitalization relative to the total crypto market cap remains elevated this year. Typically, BTC outperforms (declines less) in a down market because of its lower risk profile relative to altcoins.

Altcoin roundup

• HSBC enters the Metaverse through partnership with The Sandbox: HSBC (HSBC), with almost $3 trillion in assets, is the first global bank to enter The Sandbox metaverse. The bank will buy a plot of land at The Sandbox metaverse, which it will develop to engage with sports, e-sports and gaming fans, the statement said. Details of HSBC's development in the virtual plot of land weren't announced. A promotional GIF that was posted along with the statement showed an HSBC stadium next to a virtual body of water, according to CoinDesk’s Eliza Gkritsi. Read more here.
• APE token tied to Bored Ape Yacht Club NFTs sinks 80%: ApeCoin, the token linked to the popular Bored Ape Yacht Club (BAYC) non-fungible token (NFT) collection was airdropped to Bored Ape NFT owners on Thursday after being announced Wednesday as a part of a larger ApeDAO campaign, but holders quickly selling the coin have sent its price plummeting. The token has fallen from its highest price of $39.40 to a now stable $8.90, trading for as low as $6.48, per CoinMarketCap, according to CoinDesk’s Eli Tan. Read more here.
• Andrew Yang launches new DAO for AAPI advancement: Former U.S. presidential candidate Andrew Yang has launched GoldenDAO, a decentralized autonomous organization (DAO) dedicated to Asian American and Pacific Islander (AAPI) issues. The effort comes right after Yang’s first foray into DAOs. Last month, he announced Lobby3, a new organization advocating for Web 3 policies in Washington, D.C. In recent months, DAOs have been used for everything from social clubs to investment syndicates to crowdfunding vehicles, according to CoinDesk’s Tracy Wang. Read more here.

Bitcoin Mining Difficulty: Everything You Need to Know

Bitcoin Mining Difficulty: Everything You Need to Know

In order to ensure bitcoin blocks are discovered roughly every 10 minutes, an automatic system is in place that adjusts the difficulty depending on how many miners are competing to discover blocks at any given time.

As the name implies, bitcoin mining difficulty refers to the degree of difficulty involved in discovering new bitcoin blocks through mining.

Because the Bitcoin network is completely decentralized and not run by any single overarching authority, an algorithm hard-coded into the source code by Bitcoin’s creator(s) Satoshi Nakamoto is used. This algorithm constantly readjusts the difficulty of the mining process in line with how many miners are operating in the network to ensure that blocks are discovered at a steady pace.

In this guide, we will explore this concept extensively, highlight its importance and detail the method used to determine and adjust bitcoin mining difficulty.

A primer on bitcoin mining

The bitcoin mining process is central to the security and validity of the entire network and its native cryptocurrency – bitcoin (BTC). Mining lies at the core of Bitcoin’s consensus system – that is, the system of agreement used by bitcoin to ensure all distributed participants reach consensus on new data entering the blockchain. The network relies entirely on a decentralized transaction validation process whereby anyone in the world can take up the responsibility of validating new transactions and adding them chronologically into the blockchain via new blocks.

As simple as this sounds, the whole process – known as proof-of-work – involves a computer-intensive effort that requires the would-be validators to use their machines to generate a winning fixed-length code before anyone else does.

Read more: How Bitcoin Mining Works

By forcing validators to expend some form of energy to discover new blocks, the idea is it dissuades potential bad actors from participating in the network and attempting to corrupt the blockchain with invalid transactions.

To increase their odds of winning, miners over the years have switched over to using specialized computing equipment called application-specific integrated circuit (ASIC) miners that are capable of generating over one quintillion random codes a second; an exponentially higher number of guesses than any regular laptop is capable of producing per second.

Why bitcoin mining difficulty matters

The Bitcoin difficulty algorithm is programmed to keep the entire system stable by maintaining a 10-minute duration for finding new blocks. In essence, it takes roughly 10 minutes for one miner out of the entire network to generate a winning code and win the right to propose a new block of bitcoin transactions to be added to the blockchain.

To maintain this frequency, the algorithm steps in and increases or decreases the difficulty of mining bitcoin. Whenever there’s an influx of miners or mining rigs, it ramps up the difficulty of mining bitcoin. If the reverse is the case (that is, if there is a drop in the number of miners competing to find new blocks), the protocol reduces the mining difficulty to make it easier for the remaining miners to discover blocs. The mining difficulty of the bitcoin network is altered by adding or reducing the zeros at the front of the target hash.

The target hash is the name given to the specific hash (fixed-length code) that all miners are trying to beat. Whoever generates a random code that happens to have an equal or higher number of zeros at the front than the target hash first is selected as the winner.

Read more: What Does Hashrate Mean?

Without such a system in place, blocks would likely be discovered faster and faster as more miners joined the network with increasingly sophisticated equipment. This would result in new bitcoin entering circulation at an unpredictable rate and would likely have the knock-on effect of inhibiting it’s rise in value.

It’s important to note, a huge part of bitcoin’s appeal is its steady, predictable rate of inflation compared to the unpredictable and rampant inflation of fiat currencies caused by excessive quantitative easing. The fact that the circulating supply is capped at a maximum of 21 million coins also means it’s a truly finite asset with a relatively scarce maximum supply. Both of these factors should, in theory, help support bitcoin’s price over time – assuming demand remains high.

How frequent is bitcoin mining difficulty adjusted?

Bitcoin’s mining difficulty is updated every 2,016 blocks (or roughly every two weeks). This is why each 2,016 block interval is called the difficulty epoch, as the network determines whether the activities of miners for the last two weeks have reduced or increased the time it takes to mine a new block. If the time it takes is below 10 minutes, the mining difficulty will be increased. The opposite occurs when the block time is above 10 minutes.

How is bitcoin mining difficulty calculated?

Bitcoin mining difficulty is calculated with various formulas. However, the most common one is: Difficulty Level = Difficulty Target/Current Target.

Note that the Difficulty Target is a hexadecimal notation of the target hash whose mining difficulty is 1.

In contrast, the current target is the target hash of the most recent block of transactions. When the two values are divided, it yields a whole number which is the difficulty level of mining bitcoin.

For instance, if the answer is 24 trillion, then a miner is expected to generate approximately 24 trillion hashes before he can find the winning hash. Of course, sometimes miners can get lucky and find it with significantly fewer guesses.

How bitcoin mining difficulty is adjusted

Mining difficulty adjustments are made by comparing the standard time it should take to find 2,016 blocks of transactions on the Bitcoin network to the time it took to find the last 2,016 blocks. Keep in mind that the accepted block time is 10 minutes. Therefore, the expected time for mining 2016 blocks is 20,160 minutes (that is, 2016 X 10 minutes).

The network calculates the total time it takes to mine the last 2,016 blocks. The ratio of the standard 20,160 minutes (10 minutes x 2,016 blocks) to the time it took to scale the last difficulty epoch is then multiplied by the most recent difficulty level. The calculation yields a result that will determine the required percentage change in the mining difficulty that will bring the block time to the desired 10 minutes.

That said, an error in the original Bitcoin protocol makes difficulty level adjustments based on the previous 2,015 blocks instead of the theorized 2,016 blocks.

While a 10-minute block time is the goal, the mining difficulty cannot be altered above or below four times the current difficulty level. The upper limit for each difficulty epoch is a +300% change, while the lower is a -75% alteration. This rule is put in place to eliminate any abrupt changes in mining difficulty.  https://binaryoptionrobot.trade/

 

Bitcoin Stuck in Narrow Range Unless There’s a ‘Vibe Shift,’ Analyst Says

• Expected rate hikes continue to point to rangebound crypto
• Breakout may need a tech rally or risk-on sentiment, Daye says

Bitcoin is unlikely to break above $46,000 anytime soon, barring a macroeconoic “vibe shift” like a change in risk-on sentiment, according to Wilfred Daye, head of Securitize Capital.

The cryptocurrency’s trading range narrowed this week as the war in Ukraine continued and the U.S. Federal Reserve raised rates in line with expectations. The notoriously volatile coin is on track to end the week 5% higher at $40,700, paring back its decline from a November high to 40%.

“Tactical longs in Bitcoin don’t have enough steam to get prices over that level,” Daye said, adding that price momentum was weak over the past five trading sessions. “For Bitcoin to breakout, a tech rally and macro risk-on sentiment are the key ingredients.”

Bitcoin prices have recently been mired in the tightest trading range since October 2020, which some attribute to long-term holders stepping in to buy when token prices decline as short-term investors curb the more substantial gains. 

“Bitcoin is consolidating under $41,000 as the percentage of long-term holders in the market continues to increase,” said Marcus Sotirou, analyst at U.K.-based digital asset broker GlobalBlock. “But for 2022, I can’t expect an aggressive uptick in prices, because of the macro conditions.”

Billionaire cryptocurrency investor Michael Novogratz said Tuesday on Bloomberg TV, Bitcoin was likely to stay in a range of $30,000 to $50,000 as interest rates in the U.S. rise. Past performance data suggests the token is unlikely to sustain a rally as the Fed tightens monetary policy through the year, he said.  https://binaryoptionrobot.trade/

 

Bitcoin Miner TeraWulf Sets 2022 Hashrate Guidance

The company, which went public in December and counts among its backers actress Gwyneth Paltrow, also said its 2025 expectations remain on track.

TeraWulf (WULF), the environmentally minded bitcoin (BTC) miner that went public in December, sees itself reaching a hashrate range of 4.7 to 5.1 exahash per second (EH/s) by the end of 2022, according to a statement.

• The Easton, Md.-based company, backed by celebrities such as Gwyneth Paltrow, also expects to be able to successfully build out over 400 megawatts of mining facility in 2023, raising its hashrate to 12.1 to 17.2 EH/s.
• The miner reiterated its expectations of reaching 800 MW and 23 EH/s of mining capacity by 2025.
• The Bitcoin network’s total hashrate was 209.7 EH/s as of March 16, according to Glassnode data. By comparison, Marathon Digital (MARA), one of the largest bitcoin miners, said it sees reaching a hashrate of 23.3 EH/s by early 2023.
• For this year, TeraWulf is expecting a total of 210MW of power capacity, but notes the company could expand to raise power capacity to 235MW if the macroeconomic and capital markets improve.
• “Our focus in 2022 remains on continuing to build out our Lake Mariner facility in New York and Nautilus Cryptomine in Pennsylvania, ensuring we are well positioned to create as many plugs as possible to take advantage of significant Infrastructure and supply chain constraints facing the market,” CEO Paul Prager said in the statement.
• The company has raised a total of about $295 million to date and said it continues to take “an opportunistic approach” to raising capital.
• The shares of the miner have declined about 47% this year, while the price of bitcoin fell 15%. https://binaryoptionrobot.trade/