With Ordinals coming to the #Binance NFT Marketplace, it's time to learn more about them.
They've opened up opportunities for NFT-style collections to create on, and migrate to, the #Bitcoin blockchain.
Here's what you need to know 👇
https://t.co/1dxBs0UhDd
Meme coin season has caused significant congestion on both the $BTC and $ETH network.
There are:
• 461,880 unconfirmed transactions on the #Bitcoin network
• 185,618 pending transactions on the Ethereum network
Gas fees on $ETH are super high at the moment.
Unfortunately this eats into your edge when trading.
Depending on your size, you have to adjust trading strategy accordingly. Here are a few tips:
• Factor in % lost to gas vs position size when calculating EV
• Transact off-peak
• Be more selective with entries/exits
• Use other networks/exchanges when possible for non-blockchain specific swaps
If you’re trading a $100 position and the swap fee is $30, you’re instantly at a 30% loss.
It’s hard to be consistently profitable when you’re dishing off your valuable edge to the house (ETH) every time you trade.
It’s like starting a game of soccer 0-1 down every time you step on the field.