💸 Bitcoin Litterally Flies Away From Exchanges

Happy Monday dear subscribers! In today’s Newsletter, Bitcoin wants to be free!

In today's bulletin, we are covering:

• Surfing the Market, with analysis about the ATOM and ARB

• Don't miss the News about BTC Leaving the exchanges, and USDT supply

• TA-DA is under the spotlight.

• Short article about DePINs

• Our selection of the best Gems on X

Solid weekend for the market with an even better start 🙌🏻

My eyes today are on ATOM which is pushing for the breakout of the main horizontal resistance here on the $12,8 range

ARB on my radar, I like the breakout of the bull pennant but I'm concerned about the huge upcoming token unlock

Bitcoin Leaving Exchanges at Unprecedented Rate Amid Price Surge

Bitcoin's price surge towards all-time highs coincides with a significant decrease in BTC reserves on exchanges, with withdrawals reaching multibillion-dollar levels.

• Bitcoin's price action nears all-time highs, prompting a rapid withdrawal of BTC from exchanges.

• On March 1 alone, withdrawals from exchanges amounted to approximately $2 billion, according to data from Glassnode.

• This trend resembles the significant outflows observed in June 2021, with daily BTC outflows reaching record levels.

• The rise of United States spot Bitcoin exchange-traded funds (ETFs) may be contributing to the increased withdrawals from exchanges.

• The total BTC assets available on major trading platforms hit the lowest level since March 2018, indicating a decrease in exchange reserves.

• Concurrently, changes in Bitcoin market composition suggest the entry of new investors, as younger coins are being transacted more actively, potentially signalling the onset of a "true bull market"

Mainstream investors may not have fully returned to crypto, but Bitcoin exchanges are experiencing substantial outflows.

USDT Circulating Supply Approaches $100 Billion Milestone

The circulating supply of USDT, the world's largest stablecoin, approaches $100 billion, hitting an all-time high range. Tether claims a 1:1 peg with the U.S. dollar, with the total supply nearing 104 billion. 

This growth aligns with the rise of bitcoin and the cryptocurrency market, fueled by events like the U.S. spot bitcoin ETFs launch. 

• USDT circulating supply nears $100 billion mark, reaching an all-time high.

• Tether claims each USDT token is pegged at a 1:1 ratio with the U.S. dollar.

• Total USDT supply, including minted and authorized tokens, approaches 104 billion.

• Growth in USDT supply correlates with the rise of bitcoin and the cryptocurrency market.

• Tether's dominance over stablecoin market surpasses USDC with a circulating supply exceeding 28.9 billion.

• Tether reports a record net profit of $2.9 billion in Q4 2022.

Tether's dominance over other stablecoins like USDC is evident, with a circulating supply exceeding 28.9 billion. Additionally, Tether reported a record net profit of $2.9 billion in Q4 2022.

TA-DA

Starting March with a revolutionary concept under the spotlight;TA-DA & Talk-to-Earn!

The TA-Da project is a decentralized web3 micro-tasking data collection platform built on the blockchain with the motto “Ta-Da means good data”.

Their main objective is to solve several problems in the data collection market, including transparency, traceability, speed, and cost-effectiveness. They aim to address these issues by offering a platform that allows users to provide data meeting precise criteria through web and mobile applications. They use blockchain technology to enhance security and transparency in the data collection process.

TA-Da works by allowing companies to submit data collection jobs containing specific requirements and criteria. These jobs are then split into micro-tasks and distributed to users who meet the criteria. Users (producers) provide the requested data, which is then validated by other users (checkers) in the community. Validated data is returned to the company, and participants are rewarded with $TADA tokens.

Additionally, companies pay for data collection services using $TADA tokens. The token serves as a means of exchange within the platform, incentivizing users to participate in the data collection process and ensuring the smooth operation of the ecosystem.

There is a total supply of 1 billion $TADA tokens and currently less than 5% are in circulation, according to their emission rate it will reach 100% 5 years after TGE (around Feb. 2029)

They leverage the Talk to Earn concept, where you can provide data using your voice for language / dialect collection, transcription, scripted or spontaneous. But their product also conveys Computer Vision, Natural Language Processing (NLP) and Content Management.

Ta-Da had two funding rounds; a seed round led by Morningstar Ventures and a private round led by MultiversX, raising a total of $3.5 Millions. Other participants include GBV Capital, Spark Digital Capital, X Ventures, NxGen, Alpha Protocol Ventures and more.

And this is all for today, I hope it’s enough for you to go a bit deeper by yourself, their App is already in beta and according to their Roadmap it’s going to be released in Q2 2024.

See you next monday bringing more light into the crypto space! 

Have a prosperous week, and don't forget to come by and say “Hi”!

DePINs and decentralization

There is a very interesting paradox when talking about cryptos and decentralization. On one hand, the scheme was decentralized through the blockchain (software), but on the other hand, the hardware part became increasingly centralized. Because of this, DePINs emerged. Let's see what they are and what they are used for.

The advent of cryptocurrencies and blockchain has contributed to the decentralization of the world at a time when the trend was towards increasingly pronounced centralization. This is perhaps the most relevant characteristic of crypto: the independence from a central entity. Freedom. And all of this sounds very nice, but as all tech guys know, there are two sides to the coin: the software and the hardware. Both necessary, both important.

The crypto world focused on the software, the code, the intangible, etc. And from there came the idea of decentralizing the world. A true revolution. But on the other side, we had the hardware, the machinery, equally necessary for everything to work. However, these components, far from decentralizing, converged more and more into a few hands, achieving the opposite effect of what was happening on the other side of the Moon, to put it poetically.

And this is where DePINs are born, as a response to a disjointed decentralization of a revolution in progress. 

DePINs are networks composed of hardware that operate in a decentralized manner to allow anyone to connect and become an infrastructure provider. In other words, they aim to decentralize centralized hardware.

Currently, many project and application websites rely on centralized infrastructure platforms to function, such as AWS (Amazon Web Services) and Google Cloud. The problem with this dependency is that if there is a collapse in these services, there is no Plan B, as happened in 2021 with AWS where several exchanges and crypto platforms were offline for hours. This event accentuated the need to build new infrastructure around decentralization.

DePINs meet this need, as they serve as a distributed network of computers where individuals or companies can connect hardware devices like nodes to contribute to the network. These networks are utilizing tokenization to incentivize users to connect and serve as infrastructure providers.

DePINs are divided into different markets such as server networks, wireless networks, energy networks, and sensor networks (similar to Google Maps), which are the main use cases for decentralized public infrastructure networks.

Among the top DePIN projects is Aethir, a leader in decentralized GPU cloud infrastructure. Aethir is an enterprise-grade GPU-as-a-service provider that supports the growth of GPU-reliant sectors like Al and gaming. Through its decentralized cloud computing infrastructure, Aethir enables GPU providers to power sophisticated gaming and AI applications globally.

Another example is peaq Network, designed to grant DePIN projects the optimal layer-1 chain. In other words, peaq is the home for DePINs. Peaq envisions a future where individuals and organizations can effortlessly interact with and contribute to physical networks, forging a path toward a more decentralized and interconnected future.

There is no doubt that DePINs are an interesting and necessary branch within the crypto world. Their rapid evolution projects a market of several billion dollars in the coming years, where the focus will be on how well they satisfy the infrastructure needs of the ecosystem to avoid depending on centralized companies.

The future will be decentralized.

Bitcoin’s Liquidity Crisis

Bitcoin’s Target Cycle

An Impressive Market Cap!

Don’t sleep on this market, lots of opportunities to come, see you next week!