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The term “miners” relates to the fact that miners’ work literally creates wealth in the form of brand-new cryptocurrency units.
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Headed by Canadian Changpeng Zhao, Binance offers a wide range of services globally, from crypto spot and derivatives trading to tokenised versions of stocks, as well as its own cryptocurrency, Binance Coin.
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Coins are designed to be used as a kind of currency and are created on their own blockchain. For example, Ether is a cryptocurrency based on the Ethereum blockchain.
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Some cryptocurrencies, like Bitcoin, have a finite number of coins that help to generate demand and reinforce their perceived worth. For example, the maximum supply of Bitcoin is capped at 21 million, as determined by the Bitcoin's creator(s).
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Dogecoin (DOGE) turned down from $0.29 on Nov. 8, indicating selling on rallies. The price has dipped back to the 20-day EMA ($0.26), which is an important support to keep an eye on.
If the price rebounds off the current level, the bulls will again try to propel the DOGE/USDT pair above $0.30. If they can pull it off, the pair could challenge the overhead resistance at $0.34. A break and close above this level will signal that bulls have the upper hand.
As long as prices avoid closing below this barrier, odds favor a resumption of the uptrend toward a new all-time high at $4,574.
The price of the bitcoin rose to an intraday high of $69,000 Wednesday, reflecting a 4.6% gain following the release of CPI data.
How to Decide on a Hot Wallet or Cold Wallet for Your Crypto, and Whether You Need One at All
Bartram, S. M. and M. Grinblatt (2018), “Agnostic fundamental analysis works”, Journal of Financial Economics 128 (1), 125–147.