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Cryptocurrency is going to break out of its bubble and reach critical mass thanks to layer-2 blockchains — and a couple of other factors. After 2021, we entered an era in cryptocurrency where people stopped talking only about financial decentralization and started to broadly discuss the tokenization of everything, thanks in part to nonfungible tokens (NFTs). This shift represents a critical perspective that is set to guide three theses for the upcoming bull market . To fully grasp these theses , it is crucial to understand that everything is data. Money is data. Your engagement with a brand is data. Your credentials are data. The ticket for your favorite show is data. Since 2021, the ecosystem has increasingly started to store a large part of this data in the form of fungible tokens, NFTs, and timestamps on the blockchain, which acts as a data repository in this context. Related: Expect new IRS crypto surveillance to come with a surge in confiscation While not all data needs to be on...

Bitcoin sees a sudden return to form as a reshuffle of order book liquidity precedes a spurt above crucial BTC price resistance. Bitcoin (BTC) returned above $30,000 on April 18 as volatility preceded the day’s Wall Street open. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin erases intraday losses Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as the pair suddenly added $500, delivering daily gains of more than 3%. The pair had previously worried traders, who watched as $30,000 support looked set to remain as longer-term resistance. The fact that #BTC went for another retest of the Higher High in a short space of time was a cause for concern Ultimately, $BTC Daily Closed below Higher High & now may be turning it back into resistance Needs to Daily Close above the HH to regain bullishness#Crypto #Bitcoin https://t.co/zMNvuNjxRH pic.twitter.com/HbsJJ0xszL — Rekt Capital (@rektcapital) April 18, 2023 Before crossing the $30,000 mark,...

ETH derivatives data shows bullish traders becoming more comfortable with the $1,700 price level, creating an opportunity for further rallies. The price of Ether (ETH) rallied 18% between Feb. 13 and Feb. 16 but has since been range trading near the $1,700 level . Despite the recent price improvement, Ether Derivatives metrics remain neutral-to-bullish ponder the investors the tighter regulatory environment and the potential impact of Ethereum’s  Shanghai upgrade. Investors' biggest concern right now is regulation, especially after the United Kingdom’s Financial Stability Board (FSB) recently stated that most stablecoins fail to meet international standards. The entity was created by the G20 and is affiliated with the Bank of International Settlements (BIS). FSB chair Klaas Knot stated that the appropriate regulation of crypto-assets should be "based on the principle of same activity, same risk, same regulation." In more positive news, there has been some improvement i...

Polygon’s steady ecosystem development and first mover status in launching a zkEVM has traders feeling bullish about MATIC price. Matter Labs, the firm managing Polygon (MATIC), announced that the beta version of its zero-knowledge Ethereum Virtual Machine (zkEVM) would launch on March 27, 2023. It’s possible that Polygon will enjoy a first-mover advantage in this space by launch ing a public mainnet before zkSync and Scroll. Zk-based roll-up technology is accepted as the gold standard for scaling. The existing optimistic-based roll-ups like Arbitrum and Optimism have EVM capability but are less secure because they are “fraud-proof.” Malicious transactions on an optimistic roll-up can stay valid for up to seven days or more before being reversed. Thus, giving an advantage to zk-technology. Moreover, the Ethereum (ETH) community’s focus on Liquid Staking Derivatives may shift toward L2 networks after the anticipated Shanghai upgrade in March. This is because the update following Shang...