Understanding Real-Time Market Depth on CryptoDegen with CEOdotCA

 So what is Market Depth?

    Market depth is the ability of the market to absorb relatively large market orders without significantly affecting the price of a security. Market Depth takes into account the overall level and breadth of open orders, bids, and offers, and usually refers to trading within an individual security. Generally, the more buy and sell orders that exist, the greater the depth of the market—provided these orders are fairly evenly distributed around the current market price of that security.

Understanding Market Depth

    Market depth is closely related to liquidity and volume within a security, but does not mean that every stock showing high trading volume has good market depth. Market depth can be assessed by looking at the order book (glass) of a security, which consists of a list of pending buy or sell orders at various price levels. On any given day, an imbalance of orders large enough to create high volatility can occur, even for stocks with the highest daily volumes.

    Market depth is the derivative of all orders that fill the order book (glass) of a security at any given time. This is the amount that will be traded for a limit order at a given price, if not limited by size or the least favorable price, that would be received by a market order with a given size or a limit order that is limited by size and not by price.

    While price change may in turn attract further orders, this is not included in market depth as it is unknown. For example, if the stock market is "deep", then there will be enough pending orders on the bid (sell price) and ask (buy price) sides, which will not allow a large order to significantly move the price.

    Market Depth also refers to the number of stocks that can be bought without causing prices to rise. If a stock is extremely liquid and has a large number of buyers and sellers, buying most of the stock will usually not cause a noticeable movement in the stock price.

How to use market depth?

    Market depth data helps traders determine where the price of a particular security might be heading. For example, a trader can use market depth data to understand the bid-ask spread as well as the volume accumulating above both figures.

    Real-time market depth data allows traders to profit from short-term price volatility. For example, if a company goes public and starts trading for the first time, traders may be ready for strong buying demand, signaling that the price of the new public firm may continue its upward trajectory.

    Stocks with a large market depth tend to be popular large-cap companies. They usually have strong volumes and are quite liquid, which allows traders to place large orders without having a significant impact on their market prices.

Market Depth Example

Let’s say a trader is tracking the price of stock A. The stock may currently be trading at $1.00. But there are 350 offers for $1.25, 270 for $1.18, 135 for $1.12, and 130 for $1.113. meanwhile, there are 70 bids at $0.999, 60 bids at $0.96, and 20 bids each at $0.94 and $0.93. Seeing this trend, a trader can determine that stock A is going higher. Using this information, a trader can decide if this is the right time to buy or sell a stock.

 

Real-time market depth tool

Which Proof-Of-Stake coins are the most environmentally friendly?

    As the popularity of cryptocurrencies grew, so did the amount of energy needed to produce them. Especially in the case of the two largest ones: Bitcoin and Ethereum. This drew criticism from environmentalists who began to raise concerns about the impact of digital assets on the environment.

    However, Bitcoin and Ethereum are fairly old blockchains (by the standards of the crypto world) that run on a power-hungry proof-of-work consensus method. As part of this process, so-called miners “mine” bitcoins and thus consume energy. All this leads to massive emissions of carbon dioxide.

    And while many maximalists claim that bitcoin can push the world toward renewable energy (and they are partly right), the developers have already come up with a better solution. It is a Proof-of-Stake (PoS) consensus algorithm. This technology is up to 99% more energy-efficient than PoW and guarantees high blockchain security. The difference between PoW and PoS is that instead of using supercomputers to verify transactions, users stake their coins and thus secure the chain.

With a Google Earth Day 2022 Doodle showing the destruction of the climate over the past few decades, it makes clear that we, humanity, must reduce our carbon footprint in every possible way. Supporting cryptocurrencies through green networks is the first step to ensuring that future generations can enjoy the planet we all live on.

How much energy does Bitcoin consume compared to Proof-Of-Stake coins?

Last year, Galaxy Digital published a report titled “Bitcoin Energy Consumption: A Quantitative Approach to a Subjective Question.” He compared the power consumption of the Bitcoin network to the banking system and the gold mining industry. The statistics turned out to be unexpected.

It has been estimated that the Bitcoin network (including miner power consumption, pool power consumption, and node power consumption) annually consumes about 114 TWh of electricity. It's a lot? Well, not exactly: the traditional banking system consumes about 263.72 TWh, while the gold mining industry uses about 240.61 TWh. So we are talking about more than double the consumption of electricity.

However, it is worth noting that the estimate of energy consumption in the financial system and the gold mining industry is not easy to calculate. This means that the real demand here may be even higher.

However, it’s worth considering what this looks like for proof-of-stake cryptocurrencies. The Trades of Crypto report comes to our aid. This company drilled down the green coin data and finally selected the ones that have the largest market capitalization, use the least amount of energy, and emit the least amount of CO2. So which cryptocurrencies are the most environmentally friendly in these categories?

Eco-friendly coins in terms of CO2 emissions

#1 Terra (LUNA) – Terra is one of the most underrated ecosystems with a dual token economy consisting of a stablecoin and a vast ecosystem of DeFi, NFTs and Metaverse dApps.

#2 Fantom (FTM) – Fantom is a smart contract platform built on Directed Acycling Graph (DAG). It provides DeFi services to developers using its unique green consensus mechanism.

#3 Stellar (XLM) – Stellar is a public network that allows users to move and store money.

#4 Polkadot (DOT) – Polkadot is an open-source, multi-chain platform that bridges the DeFi economy, facilitates cross-chain transfers, and allows multiple blockchains to interoperate with each other.

#5 Tezos (XTZ) – An open source smart contract platform similar to Ethereum.

Final Thoughts

There are many green cryptocurrencies on the market. Supporting any of the coins mentioned above is a great way to promote sustainable projects for those who are concerned about the impact of cryptocurrency energy consumption on the Earth.

Moreover, proof-of-stake cryptocurrencies are becoming more and more popular, which means that the crypto market is moving towards sustainable and environmentally friendly practices.

Which Proof-Of_Stake coins are the most environmentally friendly

Can Terra LUNA bounce back and hit the $120 mark again?

    Do Kwon’s proposal to fork LUNA Terra onto a new network has been criticized by the Binance CEO and cryptocurrency proponents. The Luna Foundation Guard spent $3 billion to stabilize the TerraUSD peg, however the UST failed to recover.

    LUNA Terra struggles to recover despite fork plan

    The Luna Foundation guard has spent billions of dollars to restore the TerraUSD (UST) peg. However, the UST price is struggling to come back. At the time of writing, UST is valued at $0.082, down 91.8% from its $1 peg.

    Do Kwon, the CEO of the Terraform Lab, came up with a plan to recover the Terra tokens. The Council of the Guardians of the Lunar Foundation proposed to fork LUNA onto a new chain using a snapshot taken before the attack on the blockchain.

    The recovery plan proposes a cap of 1 billion coins, of which 900 million new chain tokens are set aside for the return of LUNA and UST holders prior to the unbind and chain hold event, and the last tranche of 100 million to be put into the network genesis state.

    Kwon has asked community members to be patient as Terraform Labs is working on multiple tasks to stabilize UST, replicate it, and ensure recovery in LUNA.

    However, the CEO of CryptoQuant revealed that market makers, including those hired by LFG, sent 84,000 BTC, equivalent to $2.5 billion, to several exchanges last week. It is not clear if BTC tokens were sold, but it is likely that Coinbase has digested much of the pressure from the sellers, and attempts to restore the UST algorithmic stable coin have failed.

    Larry Cermak, vice president of research at WBlock, noted that LFG's holdings have increased from $3.1 billion a week ago to $87 million now as the nonprofit has spent almost $3 billion protecting the UST peg. Despite efforts, the stable coin collapsed.

    VisionPulseTrades assessed LUNA's price trend and found that if a bottom is reached, LUNA needs to gain investor confidence to initiate a trend reversal. If so, then the next bullish target is capped at $0.00025 to $0.00033.

    Therefore, a recovery to $120 is unlikely for LUNA as VisionPulseTrades highlights that demand for the token comes from investors looking to recover and buy Terra LFG.

    The collapse of Terra LUNA pulled the entire crypto market with it

    After the collapse of Terra LUNA, most crypto assets suffered heavy losses. What's Next for Bitcoins?

IDO partners of the Krodo platform — CryptoDegen

  Today we will talk again about the IDO partners of the Krodo platform. Because as there are more and more of them, and this is wonderful, it means that development is in full swing. Let's see how the old ones are doing and also look at the new ones.

Kaizen Finance is the world's first cross-chain token lifecycle management platform, created with the needs of both projects and investors in mind, in other words, it is an IDO or launchpad platform. Quite a young project which hosted sales of ScottyBeam, Bullieverse, Plutonians, and many others. For the first quarter of 22 years, more blockchains were added to the platform, such as Solana, Phantom. In the second quarter of 22, judging by the roadmap, an ambassador program is planned. There are a decent number of bakers on board.

Сrodex is a decentralized trading platform in the Cronos network. In which there are a swap, bridges, liquidity pools. In general, all the useful functions of DEXA. There is also a launchpad on the platform. CROWD Launchpad, as it's called, is the primary way for high-quality projects looking to get liquidity to launch on the Cronos Network through an Initial DEX Offer (IDO).

Dust Ventures is a venture fund created by a blogger, crypto enthusiast, whose team is made up of experts in the crypto industry. His name is Cyril Evans.Рe invests in projects, helps projects scale. Flipper is not, he and his fund are more holders. Information about the investment in the framework of a private in Krodo appeared on the website of the fund.

Gaur Money is a farming and staking platform with an algorithmic token pegged to $ETH on the Cronos network.

BiShares is the gateway to crypto diversification and one-click crop farming. Access multiple crypto assets represented by a single token in a simple and fast way. Earn passive income by betting on BiShares farms. Diversification, HODL, and profitability. All in a safe way!

CronaSwap is the first decentralized exchange platform on the Cronos network, offering the lowest transaction fees (0.25%). You can easily exchange CRC-20 tokens on the Cronos Chain network, which guarantees superior speed and much lower network transaction costs. From the products on the platform, there is generally everything: pools, farming, launchpad, games. the whole range of exchange services and even more.

Cromarket is a universal tool for trading and analyzing tokens on the Cronos blockchain. A new platform that plans to scale the Kronos blockchain by creating several useful products:

1) a steep cross-chain bridge that will connect Kronos with Ethereum and BSC.

2) cromart is a marketplace created in the concept of e-commerce, only for Cronos

3) crosale is a scalable token launch system based on Cronos. This platform, as I understand it, is still in the process of launching.

Forever yours, Cryptodegen

CRODO is an ambassador program that should not be missed!

    This is the first article about ambassador programs in which I participate and which I plan to participate. I immediately give a link to the ambassador from CRODO - click here

    Important notes straight to the point, this is an ambassador program on the CRONOS network. What do we know about it? “So it’s that Cronos was launched by Crypto.com as part of their vision to “put cryptocurrencies in every wallet.”

    Crypto.com itself was founded in June 2016 as "Monaco Technologies GmbH" by Chris Marszalek, Rafael Melo, Gary Ohr, and Bobby Bao. Cronos has a token (CRO), which is the native token of the Cronos Chain cryptocurrency, an open-source decentralized blockchain developed by Crypto.com, a payment, trading, and financial services company.

    All of these are important considerations for those who choose ambassador programs for certain blockchains. By the way, CRO token is now in 18th place among all with a market capitalization of 10 billion US dollars.

    So, about the ambassador:

You are invited to become an ambassador for the Crodo team to help develop projects in the Cronos galaxy and earn rewards.

About the awards:

Get rewarded with CROD tokens!

And of course, you can stake CROD tokens to get a reward and increase your level or sell on the exchange after listing;

Increasing your blog popularity (interesting reward)

You tell your audience about the benefits of new projects, the ambassador program, and everything related to IDO by Crodo;

Increasing expert opinion (no less interesting)

You study the projects that appear on our site to create content for your audience and thereby study the crypto industry;

Become a Crodo Representative

You have priority status in Discord to communicate with the developers of the platform and influence the development of the project.

I am sure that the interest of the majority is in rewards with tokens, but do not forget that admission to newly launched projects and participation in them is no less valuable experience and reward.

Rewards for completed tasks are given in the form of points and exchanged for CROD at the end of each stage (in the project, these are Epochs). Rewards depend on the number of your subscribers, the usefulness and quality of the content made. Here's what you'll need to do:

Create memes, rewards for them are given out depending on the quality of the meme and the essence of the message conveyed to them (show your imagination and show talent). Rewards from 50 points;

Video - shoot/record / make an interesting video, the rewards will be depending on the essence/quality in the amount of 300 points;

Articles - write an article like this one, another one is also possible, the point is to promote the project and convey to the target audience not only and not so much the pro-ambassador program, but about the product and the company itself. Rewards from 100 points.

Community activity - it rather means participation in likes/reposts/tweets of articles in the medium, telegram and Twitter, individual rewards;

Chat activity - rewards depending on the activity in the project's discord chat.

Interestingly, participation in the discord is not required at all (I suspect that it is not required at all), so for those who do not like communication very much, it’s best to participate in this project.

All activity results should be posted in the agent/ambassador account on the site, it will be available to you after your application is approved, here is the link again LINK TO AMBASSADOR FROM CRODO

If anyone has a question, feel free to ask in the comments to this article!

The main mistakes of beginners: how to lose money on cryptocurrency.

    Why you should not start your journey in the crypto market with a large amount, how high is the probability of becoming a successful trader, and how not to be disappointed in digital assets at the stage of acquaintance.

    The probability of making a big mistake while getting acquainted with the blockchain technology market is especially high at the very beginning. The cost of such a mistake or an incorrectly chosen strategy can be incomparably more than just a position closed at a loss or lost funds - often all user relationships with cryptocurrencies in the future are at stake.

    At the beginning of the journey, any failures are perceived more acutely, and bad experiences most often lead to the fact that users give up studying and interacting with the market due to their unwillingness to face negative emotions again.

    There are mistakes made by novice investors and traders that happen most often. However, this can be avoided if certain rules are followed.

    The belief in the possibility of easy and quick profits is one of the widespread stereotypes about the cryptocurrency market, which prevents novice investors. Quick profits are indeed possible in some rare cases due to favorable market conditions, but such random successes can lead users even further down the road of confusion.

    Unreasonable euphoria from large profits often pushes inexperienced users to open even larger and riskier positions, the failure of which will be final for the entire portfolio. As in any serious business, the relationship with the crypto market should be perceived as a long-term and complex process with new information appearing all the time and, as a result, the need for constant learning and practice.

    According to analysts at Allied Market Research, the market capitalization of the sector is likely to triple in the next decade, so the task of users should be to achieve sufficient endurance and discipline that will allow them to wait for the fruits of investments without destroying their deposit before the opportunity to make a profit.

    The second stereotype about the market is the belief that the market can be fully understood and predicted. This misconception leads to overconfidence in one hundred percent working out of analysts' forecasts about price movements or unconditional faith in the signals of crypto channels.

    Of course, no analyst or channel can perfectly predict price movements and all external factors, otherwise the market simply would not exist in principle. Analysts' forecasts can only be more or less correct. To be able to truly evaluate the statistics of an analyst's forecasts or channel signals requires a complex examination of a lot of data and the separation of advertising statements about profitability from real statistics on public transactions.

    Those dreaming of a career as a trader should familiarize themselves with the already approximately calculated probability of success in such a business. Unlike long-term investments, where almost every user can collect a profitable portfolio, everyday successful trading is many times more difficult, accessible to only a few percent of people. It is believed that for certain categories of people the probability of successful everyday trading will be slightly higher. So, mathematicians, programmers, linguists, accountants, chess players, and professional gamers who have experience in calculating a set of probabilities in given periods trade a little better than the rest in statistics. The selection process and everyday life of traders are described in detail and without embellishment in the book “The Way of the Turtles” by Curtis Feis, who concluded that successful everyday trading on the stock exchange, even among people specially selected for this task, will be available only to a few. However, you should not give up trading completely. Periodically trading, allocating a small share of the total deposit for this, is possible and necessary for a deeper understanding of the functioning of the market and improving the skills of technical analysis. What about trading on paid signals of closed channels? And here everything is not as cloudless as it might seem. Firstly, analyzing and finding a good channel with a suitable ratio of the subscription price and quality of trading signals is already a difficult task in itself; Secondly, even the simple repetition of successful signals is a job that requires certain skills, due discipline, and a lot of free time. Depending on the situation on the market, signals can come at any time of the day and will work only if the conditions for entering a trade and the appropriate placement of stop loss and take profit orders are met. Delay in repeating the transaction after the signal threatens to change the complexly calculated initial conditions and the signal is outdated. Those who want to try paid signals for the first time are advised to allocate at least a month to get used to the system of working with the selected closed channel, during this month it is recommended to use only a small test deposit.

    Unfortunately, most of the environmental factors contribute to the overestimation of the first position by users. These include the desire to immediately get as much profit as possible, excessive confidence in the success of the position, and the desire to save time by immediately making a big deal. Also, the desire to open a larger position causes an artificially created “successful” image of a crypto-investor “getting out of a Lamborghini and getting into a yacht”.

    Compared to the glamor of advertising, new users may feel their deposits are small and seek to increase their first positions to compensate for this artificially created discomfort effect. An excessively large first position in almost all cases will lead to undesirable consequences. Too much loss in case of failure will create a threat to the overall investment portfolio, and excessive nervousness for funds will make it impossible to soberly assess situations and follow the initially chosen plan.

    Even if the position turns out to be profitable in the end, the nerves spent and the deterioration in the quality of life in the process of monitoring the position will not be worth it. The user will try to get rid of negative emotions and activities associated with them, that is, from all interactions with the market.

    The reverse side of the problem described above can be opened, on the contrary, too small a position. The insignificance of the amount will contribute to the fact that the user will not pay due attention to the analysis for the transaction, as well as monitor the position after it is opened.

    There is a possibility of completely losing too small positions due to the loss of passwords from exchanges or private keys from wallets since the user will not feel at least some responsibility for an insignificant investment. A good criterion for choosing the minimum recommended position for each portfolio will be planning possible actions with potential profit from the transaction in the future - the amount should, for example, correspond to some kind of product or action in real life, albeit insignificant, but pleasant and quickly implemented.

    Going through the entire cycle of actions from analyzing and opening a position, to making a profit and turning it into an event in real life, gives users a sense of a job well done, increasing their motivation to further explore and interact with the market. The long absence of any connection between investment and trading practices and real life, on the contrary, can create a feeling of infinity and aimlessness of the whole process and, as a result, a loss of interest in the market.

    The most successful representatives of the blockchain sector regularly transfer part of their profits to charity and thus give their activities with numbers in front of the monitor a special meaning. In 2021, it was cryptocurrency investors who were recognized as the most active and generous category of investors making donations, overtaking investors in traditional financial instruments by this indicator, according to Fidelity Charitable.

Europe Officially Allows Bitcoin Mining Despite Rising Greenhouse Gas Emissions

     Bitcoin mining consumes an incredible amount of electricity. It is not clear what Satoshi Nakamoto was thinking at all, but his brainchild turned out to be one of the most terrible inventions of mankind and burns an incredible amount of hydrocarbons. For comparison, by the end of 2021, the entire Bitcoin network began to consume more than Norway. If we were talking about a specific country, then experts would place it in 27th place in the world, which gives an understanding of the scale of the problem. Last year, China abandoned cryptocurrencies, banning the mining, trading, and even storage of digital assets. It is clear that the main reason was to try to free up a niche for the digital yuan, but the environment was not in the last place here.

    Since the European Union has been trying for many years to move towards energy efficiency and reduce pressure on nature, it has become quite natural to ban cryptocurrencies that are mined using the traditional Proof of Work (PoW) algorithm. Yesterday, a meeting of the EC was held, within which the final point was made, and in the future, the parliamentarians do not plan to return to this issue. So, the Committee on Economic and Monetary Affairs decided to abandon the prohibitive measures against cryptocurrencies that spend electricity for mining. At the same time, it is noted that it is necessary to adopt a legislative framework aimed at regulating digital money in the European Union as soon as possible.

    Many European environmentalists have expressed disappointment with the decision, as cryptocurrency mining undermines the EU's commitment to a clean energy transition. The problem here is that the bulk of Bitcoin is mined using electricity, which is generated by burning hydrocarbons (ordinary coal). Thus, it can be stated that on one hand, parliamentarians force large companies to spend billions of dollars on the environment, and on the other hand, they open the doors for miners. Especially problematic is the exodus of farmers from China. The fact is that a large part of the production was so provided with clean energy produced at hydroelectric power plants. After appearing in Europe, miners began to use available sources, but many countries simply burn coal, significantly increasing greenhouse gas emissions.