Foundry Launches Zcash Mining Pool, Attracts 30% Hash Rate
- Hash Rate Attraction: Foundry Digital's newly launched Zcash mining pool has remarkably attracted 30% of the global Zcash network hash rate in a short time, indicating its strong appeal in the cryptocurrency mining sector and potentially solidifying its market position.
- Enhanced Transparency: The new pool implements transparent payout mechanisms, increasing accountability among its members, while the pay-per-last-N-shares (PPLNS) model incentivizes recent contributions, aiming to attract more compliant institutional miners.
- Technical Advantages: The Zcash blockchain is renowned for its robust privacy protocols and a block creation speed of approximately 75 seconds, distinguishing it from Bitcoin's 10-minute intervals, which may entice more miners to join Foundry's pool.
- Strategic Positioning: Foundry explicitly targets compliant institutional miners as its primary clientele, aiming to build infrastructure that adheres to strict regulatory requirements, reflecting its strategic direction and market positioning within the cryptocurrency industry.
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Technical Analysis for BTC
Technical Sentiment Analysis for Bitcoin (BTC). As of , Bitcoin (BTC) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 7 technical signals, shows that 3 indicators are flashing buy, while 4 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for BTC stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, BTC is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Bitcoin (BTC) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 59724.811 | 63728.41 | 68030.801 | 72034.4 | 76336.791 | 80340.39 | 84642.781 |
| Fibonacci | 63728.41 | 66901.299 | 68861.512 | 72034.4 | 75207.289 | 77167.502 | 80340.39 |
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