Cumulus Encrypted Storage System (CESS), the 3rd-gen decentralized cloud-based data storage protocol built exclusively for Web3, has recently presented at IVS 2023 – the biggest and most influential startup conference in Japan. CESS Co-founder and Chairman Nick Zaldastani and COO and Co-Founder Jessie Dai both attended the event and shared opinions on decentralized storage, enterprise blockchain opportunities, and the impact of infrastructure on decentralization. Issues pertaining to data ownership are a recurring theme and have grown in importance as the blockchain space has matured and evolved. Nick Zaldastani spoke in depth about how new changes in data ownership paradigms are drastically changing and improving legacy approaches to data storage: CESS is pioneering new innovations in decentralized storage that not only give complete ownership and control of user data back to users – in complete contrast to the approach of centralized platforms such as, for example, Facebook and YouTube, where the platform typically owns and controls user data – and CESS also empowers users to permit or restrict access to their data to different entities and remove or scrub data from the Internet whenever and however they choose. To do this, CESS uses a combination of groundbreaking tech innovations, including Multiple Data Storage Proof Schemes represented by Proof of Data Reduplication and Recovery (PoDR²), Proof of Replication (PoRep), Proof of Space-time (PoSt), Proof of Flow (PoF), Proof of Availability and Storage (PoAs). Other technologies include Multi-Format Data Rights Confirmation (MDRC) and Proxy Re-encryption Technology (PReT) to ensure data ownership and data privacy. PoDR² is used to guarantee that the system always holds multiple copies of user data files for retrieval. PoRep guarantees that miners have replicated the data as assigned. In order to verify that data files remain on storage nodes during the contract period of files, a Proof of SpaceTime (PoSt) scheme is implemented. Using a traffic proof algorithm PoF, CESS is able to measure and calculate the traffic bandwidth contributed by nodes. Finally, keeping in mind the fluctuation of the network environment, CESS uses a Proof of Available Storage scheme (PoAs) to verify that nodes have sufficient storage capacity and stability. Using these technological breakthroughs, CESS is able to deliver unprecedented levels of data security and control, that too on a global scale fit for large consumption on an enterprise level. CESS is designed from the ground up to be a scalable, flexible, and cost-effective solution for fast, accessible, safe, and encrypted data storage – including hot, warm, and cold data. Thanks to these capabilities, CESS is reimagining what is possible in the cloud-based decentralized storage space and is quickly gaining traction as the go-to solution for leading Web3 applications that need transformative decentralized storage. Along the way, CESS is ushering in a decentralized storage revolution, much as Amazon’s Simple Storage Service (Amazon S3) transformed centralized cloud computing over the past 15 since its launch in 2006. Kyoto is a city rich in history and has long been a friend to startup executives and investors – not to mention Web3 innovators and developers from all industries and verticals. This year’s conference featured over 10,000 attendees, 700+ speakers, over 250 sessions, and 100+ side events. To learn more about CESS, please visit https://cess.cloud. About CESS Cumulus Encrypted Storage System (CESS) is optimized for processing high-frequency dynamic data, enabling real-time data sharing; while safeguarding its users’ data ownership, privacy and assets. It provides multiple encrypted copies that are sliced and dispersed across global nodes, eliminating single-point failures, data leaks, and slow retrieval. CESS is fully decentralized, thanks to an innovative Consensus Mechanism that provides fair and open participation, and a Trusted Execution Environment (TEE), and randomly selects nodes to achieve consensus. Furthermore, CESS provides robust data recovery guarantees, thanks to the use of Proof of Data Reduplication and Recovery (PoDR²). PoDR² continuously challenges storage nodes to prove data validity and availability. Recovery functionality will prevent data loss and guarantee data integrity under any circumstance. Data ownership and traceability are also ensured and verified with Multiformat Data Rights Confirmation technology (MDRC), and safe data and asset sharing, protected data transfers, permissions, and royalties, and fast data retrieval via improved architecture design with indexing functionality and Decentralized Content Delivery Network support are also provided. CESS’s Smart Cloud Space System maximizes scattered global storage space utilization as well and manages node disk space by regularly checking disk status, calculating available and used space, and clearing invalid data. In this way, CESS is a secure, efficient, and scalable decentralized cloud storage network that provides data storage services and data sharing platforms for Web3. It is the first decentralized storage network that offers full-stack data solutions for large-scale commercial applications. As an open-sourced and public blockchain, CESS is positioned to be the underlying network infrastructure that is equipped with integrated APIs and SDK for easy dApps deployment. It supports WASM and is compatible with EVM smart contracts, making CESS widely available for large-scale commercial applications with its superior performance in data handling. All incentives are guaranteed by a set of transparent and fair incentive mechanisms. Anyone can join CESS fairly to become candidate consensus miners through R²S, preventing large nodes from having a monopoly on the network. R²S also achieves low gas fees and 10,000 TPS. CESS supports use cases such as customized network drives, frontend support, decentralized streaming and social media, decentralized data marketplaces, user-generated content platforms, and blockchain data backup hubs, helping to build a diverse and robust ecosystem where transactions are secured by encryption and data ownership is returned to their rightful owners.

Bitcoin Ordinals’ unique non-fungible token (NFT) inscriptions on the Bitcoin blockchain have recently registered over $210 million in trading volume in the first half of 2023 alone. This new wave of innovation, coupled with the volume recorded so far, demonstrates the potential that lies within the intersection of blockchain technology and digital artistry. Bitcoin Ordinals’ Q2 Performance Defies Expectations In a recent quarterly report from DappRadar, a rise in trading volume was documented for Bitcoin in the second quarter of 2023. The data, characterized by notable fluctuations, attributes this heightened trading activity to an increased interest in Ordinals, suggesting a marked shift in trader preferences and investment strategies. Related Reading: Bitcoin Ordinals: This New BRC Standard Could Reduce Inscription Fees By 90% Bitcoin Ordinals, once an emerging player in the crypto market, has now gained significant traction, establishing itself as a potential innovator in the industry. The trading volume of Ordinals has demonstrated a growth trajectory, as detailed in DappRadar’s report. The trading volume for Ordinals started the year modestly, registering a mere $7.18 million in the first quarter. However, as the innovation gained increased visibility and trader confidence, there was an upturn in trading activity. The second quarter of 2023 saw Bitcoin Ordinals’ trading volume skyrocket to $210.7 million, a figure that represents a 2,834% increase from the preceding quarter. This upswing in trading activity underscores its growth in the digital asset market and indicates the potential for continued extension in the quarters to come. It is worth noting that Bitcoin Ordinals’ performance is not a passing trend; instead, it signals a shift in how investors and enthusiasts approach NFTs in the digital assets space. The rising acceptance and trading volume of Bitcoin Ordinals reveals a positive trajectory, which has successfully harnessed the power of non-fungible tokens. Furthermore, Bitcoin Ordinals’ journey from a relatively obscure blockchain project to a formidable player in the NFT space reflects the nature of the digital asset landscape. Its growth narrative, as underscored by its Q2 performance, sets the stage for more innovation and market expansion in the world of nonfungible tokens. User Engagement And Marketplaces Fuel Growth DappRadar’s report also highlighted Bitcoin Ordinals trades in Q2 – over 550,000 – driven by more than 151,000 unique traders. This surge in trading activity attests to its rapidly growing appeal within the crypto community in 2023. Data from a blockchain analytics dashboard on Dune, maintained by @domo, affirm these observations, highlighting a significant rise in individual users beginning in May 2023. Related Reading: Dormant Bitcoin Supply Peaks As Institutional Investors Show Increased Involvement This expansion is mirrored across several trading platforms, where UniSat – an open-source Chrome extension supporting Bitcoin Ordinals & BRC-20 tokens – along with Magic Eden and Ordinals Wallet, commands a substantial share of distinct users. Meanwhile, over the past week, BTC has been in a downward trend dropping by 2.5%. However, in the past 24 hours, the asset appears to be picking up with an increase of nearly 1%. At the time of writing, BTC trades at a price of $30,320, after trading above the $31,000 mark a few days ago. Featured image from iStock, Chart from TradingView

To celebrate the recent historic NBA Draft, Sorare is minting five NBA Draft Special Edition cards, the first officially licensed digital collectibles of the top 5 draft picks of 2023 (Victor Wembanyama, Brandon Miller, Scoot Henderson, Amen Thompson, and Ausar Thompson) The Spurs’ first overall draft pick, Frenchman Victor Wembanyama, will be part of the card auction Sorare Managers will be able to bid, collect, and play with these cards as part of their fantasy Sorare: NBA lineups during the upcoming NBA season PARIS & NEW YORK–(BUSINESS WIRE)–Sorare, the global sports entertainment company, today announces the auction of the first ever licensed digital collectibles of the top 5 NBA draft picks, ahead of the 2023-24 National Basketball Association (NBA) 2023-24 season. To mark the historic draft, Sorare is providing Managers with the opportunity to collect and play with Special Edition cards of first overall draft pick Victor Wembanyama (San Antonio Spurs), Brandon Miller (Charlotte Hornets), Scoot Henderson (Portland Trail Blazers), Amen Thompson (Houston Rockets), and Ausar Thompson (Detroit Pistons). Now a San Antonio Spur, Wembanyama is the first Frenchman, and only the second European, ever to be drafted with the first overall draft pick in the NBA Draft. At only 19 years old, Wembanyama’s upcoming NBA debut is one of the most anticipated in recent years. He has played the past three seasons in France’s highest pro level, and was the league’s 2023 MVP, top scorer, and Defensive Player of the Year. In five separate auctions beginning on July 9, 2023, Sorare Managers will be able to bid on Special Edition cards of these players. Each card will include a Rookie Badge and will be part of the Rare card population for the 2023-2024 season. In competitions, these 5 NBA Draft Special Edition cards will have a 10% XP Bonus throughout the 2023-2024 season. The auctions come ahead of the start of Sorare’s second season as the Official NFT Fantasy Partner of the NBA and the National Basketball Players Association (NBPA). Last season, the top scoring rookie – the player in their first NBA season who scored the most Sorare points – was Oklahoma City Thunder player Jalen Williams, with 1328 points, a benchmark Wembanyama and others will be looking to break this season. The three most popular players last season on Sorare were Nic Claxton (Brooklyn Nets), Luka Dončić (Dallas Mavericks), and Giannis Antetokounmpo (Milwaukee Bucks). Nicolas Julia, CEO and co-founder at Sorare, said: “As a French NBA fan, I followed this year’s draft with great interest. It’s been an exciting start to what should be another great season in the NBA – the second during which we’ve been proud partners. As part of our partnership with the NBA, we’re delighted to launch new Special Edition Rare cards of the top 5 draft pick players ahead of the coming 2023-24 season. We’re committed to giving fans new ways to connect with their favourite stars and this will give Sorare Managers the chance to own a truly unique part of NBA history, add exciting players to their collection, and play their digital player cards in their lineups.” Josh Goodstadt, Chief Commercial Officer of THINK450 shared: “This year’s draft class is one of the most eagerly anticipated in years, and we look forward to celebrating these players as they take the court as newly minted NBPA members. We are excited that our fans can be a part of special moments like these through our ongoing partnership with Sorare, and specifically this new opportunity to collect Special Edition Rare cards of 2023’s top 5 draft picks on the Sorare: NBA game. This will give fans a new way to create a meaningful connection with these exceptional young players.” About Sorare Sorare was founded by Nicolas Julia and Adrien Montfort in 2018 in Paris to bring sports fans across the globe closer to the players, teams, and leagues they love. Sorare is a fantasy sports gaming experience and marketplace featuring officially licensed digital player cards. With Sorare you build legacy teams – buying, selling, collecting and trading digital player cards — and compete with them in free-to-play fantasy games to win rewards week over week and season over season, just like a professional sports owner. Sorare is revolutionising digital sports fandom, and now has over 5 million users across 180 countries. More than 300 iconic teams, clubs, and organisations including the Premier League, La Liga, Bundesliga, Serie A, MLS, NBA, NBPA, MLB, MLBPA, and many others have partnered with Sorare to build the next sports entertainment giant. With 160-plus employees across France and New York, Sorare is one of Europe’s fastest-growing startups and recently raised a $680 million Series B funding round at a $4.3 billion valuation from world-class investors including SoftBank, Accel, and Benchmark. Sorare also has athletes Serena Williams, Lionel Messi, Zinedine Zidane, Rio Ferdinand, Antoine Griezmann, Gerard Piqué, Blake Griffin, and Rudy Gobert among its investors, ambassadors, and advisors. Contacts Divya Erram, [email protected]

On-chain data shows that Bitcoin short-term holders have continued to make exchange inflows, but the asset’s price has held on so far. Bitcoin Short-Term Holders Make High Deposits For 20 Straight Days According to data from the on-chain analytics firm Glassnode, the short-term holders have sent 617,000 BTC to exchanges during the past 20 days. The “short-term holders” (STHs) here refer to Bitcoin investors who have been holding onto their coins since less than 155 days ago. The STHs are generally the less experienced hands of the market, who may easily sell during periods of widespread FUD in the market, or during sharp surges in the cryptocurrency’s price. Usually, these investors make use of exchanges for participating in such selloffs, so the data for their “exchange inflows” can provide hints about their current behavior. The exchange inflow here naturally refers to the total amount of Bitcoin that the STHs are depositing to the wallets of centralized exchanges. When the value of this metric is high, it can be a sign that these holders are selling a large number of coins currently. Naturally, such a trend may have bearish consequences for the asset’s price. Now, here is a chart that shows the trend in the Bitcoin exchange inflow for these STHs over the past year or so: Here, the Bitcoin STH exchange inflows are represented in terms of the percentage of their supply. As the supply of these investors can change, it makes more sense to consider the percentage of it as it would make comparisons with history easier (the pure figures, on the other hand, may be incompatible). From the graph, it’s visible that the Bitcoin STH exchange inflows have been elevated recently. During the last 20 days, these investors’ inflows have measured above 1% of their supply. In this period, the cohort has deposited a total of about 617,000 BTC ($18.6 billion at the current exchange rate) to these platforms, which is quite a significant amount. In the chart, Glassnode has also highlighted the previous instances during the last year or so where the indicator crossed the same threshold of 1%. It looks like in terms of the magnitude of the inflow spikes, the three capitulation periods that followed the LUNA collapse, 3AC bankruptcy, and FTX crash, respectively, saw larger peaks than the recent levels. The duration of the latest period of elevated exchange inflow activity from the Bitcoin STHs, however, has been quite extraordinary, as it has gone on for at least 20 days so far. Whereas the aforementioned capitulation selloffs only lasted for 13 days each. Nevertheless, despite the high selling pressure from this cohort, It would appear that the price of the cryptocurrency has been holding strong thus far, as it’s still floating above the $30,000 level. BTC Price At the time of writing, Bitcoin is trading around $30,100, down 2% in the last week.

Unlike the US SEC, Canada is acknowledging the benefits of crypto and Bitcoin. The CSA has made clear its views and expectations with respect to staking cryptocurrencies. The Canada Securities Administrators (CSA) have issued new rules for investment funds that hold or intend to engage in crypto assets, focusing particularly on meeting the requirements of securities legislation. Unlike the US SEC, Canada is acknowledging the benefits of crypto and Bitcoin and is progressively loosening restrictions on investment in crypto assets. In the following months, major crypto events such as the 2023 Blockchain Futurist Conference and ETHToronto will take place. Complying With Current Framework The April 2020 issuance of a Canadian public crypto asset fund made it possible to establish a non-redeemable investment vehicle whose only holding is Bitcoin (BTC). There are now 22 Public Crypto Asset Funds in Canada, managing a total of $2.86 billion in assets as of April 30th, 2023. Moreover, the Canadian Securities Administrators (CSA) issued recommendations on how crypto asset investment funds could comply with the current securities regulatory framework. The CSA has also made clear its views and expectations with respect to staking cryptocurrencies, crypto custodians, and the purchase of cryptocurrencies other than Bitcoin and Ethereum. According to the CSA, fund managers should ensure that there is an active market for the cryptocurrency asset, the cryptocurrency asset has a regulated futures market, and indices for the cryptocurrency asset are accessible from a regulated index provider. There ought to be a lot of people buying and selling it. The Canadian Securities Administrators (CSA) suggested adopting publicly accessible indexes that aggregate prices from many sources to generate a spot price of a crypto asset, as this “will help mitigate the risks of inaccurate pricing of a particular asset.” Highlighted Crypto News Today: Breaking: Shibarium Launch Date Confirmed, Shiba Inu Fans Wait Is Over!

New memecoin’s surge makes investors a millionaire in just 10 days. $12K investment in new memecoin yields astonishing $1.05M profit within days. In an incredible twist of fate, an investor called “SmartMoney” has transformed a small investment of $12K into a jaw-dropping $1.05 million in just 10 days. This remarkable achievement was made possible by their involvement with a wildly popular memecoin that has taken the cryptocurrency world by storm. It all began on June 13 when SmartMoney received a windfall of 13 billion units of a prominent memecoin, PEPE, valued at $12,000, along with 0.06 ETH as initial funds. Recognizing the hidden potential within this new meme coin, SmartMoney wasted no time and swiftly exchanged the entire PEPE holding for Bitcoin. New Memecoin That Made A Millionaire However, it was on June 28 that the true potential of a new and exciting memecoin, PEPE 2.0, became apparent. SmartMoney seized the opportunity and exchanged a substantial 400,000 Bitcoin for an astonishing 6 trillion units of PEPE 2.0, marking the beginning of their millionaire mission. In this infographic, you will see the steps took by the “SmartMoney” to reach the millionaire door. PEPE 2.O – Millionaire With a significant reserve of PEPE 2.0 in hand, SmartMoney progressed to the next phase of their venture. Recognizing the immense growth potential, they strategically provided liquidity for the new memecoin, solidifying their position in the rapidly expanding memecoin market. Demonstrating their astute investment acumen, SmartMoney capitalized on market movements by purchasing additional quantities of 1.9 trillion PEPE 2.0 units on both June 30 and July 2, further bolstering their holdings. The real breakthrough came with the recent surge in the price of PEPE 2.0, propelling SmartMoney into millionaire status within a mere ten days. By allocating $90,000 to acquire an impressive 7.9 trillion units of PEPE 2.0, SmartMoney made strategic moves, selling 5.2 trillion units and generating extraordinary profits of approximately $614,000. With a remaining balance of 2.7 trillion units of PEPE 2.0 valued at $533,000, SmartMoney’s total profit surpassed the $1 million mark. The Memecoin Millionare Next Move ? Currently, SmartMoney’s diverse portfolio consists of 2.7 trillion units of PEPE 2.0, valued at $533,000, significantly contributing to their substantial profits. Additionally, they capitalized on the surge by selling 2.3 trillion units of PEPE 2.0 for 215 ETH, equivalent to approximately $398,000. Simultaneously, they strategically diversified their positions by exchanging some of their assets for other notable memecoins such as $PEPE, $BOBO, and other memecoins. Final words , SmartMoney’s journey from a $12,000 investment to a remarkable $1.05 million windfall stands as a testament to the extraordinary opportunities that the volatile yet exhilarating world of memecoin investments can offer. Related Read : Breaking: Shibarium Launch Date Confirmed, Shiba Inu Fans Wait Is Over!

On-chain data shows that the Ethereum network has been observing high address creation recently, a sign that adoption could be going up. Ethereum Network Growth Has Registered High Values Recently According to data from the on-chain analytics firm Santiment, ETH’s network growth has now hit its highest level in around four months. The “network growth” here refers to a metric that keeps track of the total amount of new addresses that are being created on the Ethereum blockchain. When the value of this metric is high, it means that a large amount of new addresses are coming online on the network. New addresses may be considered analogous to new users joining the chain, so this kind of trend can be a sign that the cryptocurrency is observing high adoption at the moment. On the other hand, low values of the indicator can imply not many new investors are coming to the network as there aren’t many new ETH addresses being created. Such a trend can be a sign that the asset isn’t looking very attractive to the general public currently. Now, here is a chart that shows the trend in the Ethereum network growth over the last few months: As displayed in the above graph, the Ethereum network growth has been observing a rise recently. This would suggest that addresses are being created at increasingly faster rates right now. Generally, adoption picks up during periods of high price volatility as the investors usually find such price action exciting, and so, the network growth indicator can register a spike. Recently, however, the asset’s price has been mostly moving sideways below the $1,900 level, making it interesting that the indicator has been going up nonetheless. Perhaps the general investors saw the rally that lead up to this period of consolidation and now think that it may pick up again eventually. During the past week alone, the metric has seen a combined value of 550,800, meaning that 550,800 new addresses have just been created on the Ethereum network in this period. Usually, adoption can have a constructive effect on the cryptocurrency’s price, as it shows increasing interest in the asset, which is generally also accompanied by an influx of more capital into the coin. Though, the impact from such a growth in the network doesn’t usually immediately appear; the effect on the cryptocurrency’s market cap may be visible in the long term. Still, the adoption accelerating while the rally has slowed down to a crawl can be a positive for those hoping to see the price surge restart, as it at least means that interest in the asset hasn’t died down yet. ETH Price At the time of writing, Ethereum is trading around $1,800, down 1% in the last week.

Greece, 7th July 2023, iPlayCrypto – one of the world’s most trusted iGaming Focussed websites that provide reviews and advocates for a safer and anonymous gaming environment- strongly suggests that Telegram Casinos will soon compete against traditional online crypto gambling websites. Telegram, mainly used as an end-to-end encryption telecommunication channel with 550 million active monthly users, now has become a multi-platform application that offers the latest trend in iGaming- seemingly the way forward for online casinos to reach new users. One of the biggest advantages of Telegram Casinos over standard web-based operating systems is that they allow users to access casino games much easier and faster. Telegram Casinos are fully synchronized with online platforms and can act as a stand-alone platform or operate as part of the online casino. Telegram users only need to register through a telegram bot, complete the authorization process, and can instantly begin gambling. One of Telegram’s most impressive features is its E2E encryption techniques, which encodes information so that only authorized personnel can access it, keeping users’ data secure from outside interference and providing complete anonymity for its users. Since Telegram ensures complete anonymity, it has no traffic limitations or content restrictions within the application. The most appealing attraction of Telegram casinos is the convenience of having everything in the palm of your hand. As Telegram casinos mimic online casino platforms, any user over the age of 18 years old with a registered account can access the Telegrams casino platform. Telegram’s Bitcoin Casino Bot program fully supports Bitcoin and other cryptocurrencies. Crypto enthusiasts are even rewarded for referring friends to Telegram’s Bitcoin Casino Bot program. Telegram’s online casino platform offers users access to the latest slots and table games (Roulette, Blackjack, Baccarat, Dice, and Craps). Every user can play the games first in Demo mode to understand what’s to come before wagering their crypto coins! Popular online casinos such as Slotegrator offer Bitcoin players over 7000+ video slot games from trusted gaming developers. At the same time, Royal Casino is another online casino brand recently joining the Telegram Casino community. In all fairness, Telegram Casinos are already the next big thing that permits players to access their favorite games straight from a messaging application. The combination of social media, texting, and iGaming, is a formidable force that’s about to rock the online iGaming community. About iPlayCrypto Founded in 2020 and based in Greece, iPlayCrypto is an industry-leading iGaming and Privacy Focused website. The website searches the internet’s darkest corners for the latest trends in iGaming and cryptocurrency. iPlayCrypto offers an in-depth examination and personal review of crypto casinos so that users perceive what they might experience. Their reviews suggest various products and solutions while notifying players of possible casinos to avoid. iPlayCrypto finds reliable and legal online crypto casinos for players to spend their tokens while providing a rundown of all the latest games, safety and security measures, anonymity, and the highest casino’s return to player rates on the website. In addition, iPlayCrypto puts gamers ahead of the pack with personal insider knowledge, a complete breakdown of each casino’s KYC policies, and which coins the casino supports. For more information, please visit https://iplaycrypto.com/

In the Bitcoin space, one question echoes persistently through the minds of enthusiasts and investors alike: When will Bitcoin rocket to the moon? While no one knows the answer, there are on-chain metrics and historical patterns that can be followed to track down the answer. Bitcoin Price Analysis: When Will BTC Break Out? Over the last two weeks, the Bitcoin price has been in a sideways trend. After the Bitcoin bulls were able to turn the tide at $24,900, the price has risen by more than 25%. Since then, however, BTC has been trading in the range between $29.800 and $31.300. Neither bulls nor bears have been able to gain the upper hand and break out of the trading range in higher time frames. The renowned crypto trader and analyst “Rekt Capital” believes that all it takes is a positive catalyst to current BTC price action. According to him, Bitcoin’s current sideways trend within a tight range is a mere step away from its ultimate demise. He affirms that “a BTC downtrend is only ever one positive catalyst away from ending. And a BTC uptrend is always one negative catalyst from ending”, adding: On-chain analyst Axel Adler Jr echoes this view and points to BTC total transfer volume as indicator for a massive breakout move. While the exact timing remains elusive, Adler Jr suggests that the moonshot could be triggered by a significant event such as the approval of a Bitcoin Exchange-Traded Fund (ETF). Drawing from historical evidence, Adler Jr highlights the correlation between explosive price pumps and a surge in BTC’s total transfer volume. Past instances, like the dramatic surges witnessed in February 2019 and August 2020, lend weight to the argument that a similar surge may loom just around the corner. Bulls Vs. Bears And Whale Games Daan Crypto Trades remarks on the current state of the market, “They call this candlestick pattern: Thanks for your stops.” Daan’s keen eye eagerly awaits a decisive breakthrough that will propel Bitcoin into a significant move. As the battle between bulls and bears ensues, he perceives the ongoing range-bound activity as a prelude to an imminent explosion. “Until then it’s just a lot of chop, stop hunts and liquidity grabs until one side comes out victorious.” Once the shackles of this consolidation are shattered, Daan predicts that the resulting breakout will mark the top for 2023: Meanwhile, renowned analyst Skew shed light on the intricacies of Bitcoin’s market dynamics. With an eagle eye on the Binance Spot market, Skew discerns substantial BTC accumulation occurring. He revealed that the supply is concentrated between $31.3K and $32K, while demand persists between $29.5K and $28K. Unveiling the tactics of bigger players, Skew pointed to how whales employ aggressive short positions to manipulate the price within the narrow hourly range, exploiting bid liquidity and supply.

Robert Leshner, the well-known creator of the DeFi lending platform Compound Finance, has resigned from his position as the CEO of the DeFi lending protocol. Leshner recently announced his plan to launch Superstate Trust, a new business venture. The creation of a short-term government bond fund is the goal of this endeavor. Notably, Superstate Trust has already raised $4 million in startup money from a variety of DeFi investors. Compound (COMP), the native token of Compound Finance, is still on the rise despite Leshner’s resignation. COMP, which is currently trading at $55.87, has experienced a spectacular rise in value of 22.47% over the last two days. The Defiant Terminal reports that Compound Finance has $2 billion in assets and that its governance token COMP has increased by over 100% in the last week. Significant digital assets including Bitcoin (BTC), Ethereum (ETH), and the S&P 500 have all increased by less than 3% during that time period. This outstanding performance demonstrates Compound’s (COMP) robustness and adaptability in the face of organizational changes and reflects increased investor trust in the token’s potential. Compound supporters believe that recent significant cryptocurrency ownership outflows by important market participants are clear signs that the price of Compound (COMP) will continue to rise. These backers are optimistic that Compound and its chances for future growth are looking good thanks to the withdrawals made by crypto whales, who own substantial sums of digital assets. Bullish investors predict Compound may even surpass the remarkable valuation of about $80 in the upcoming weeks as a result. This upbeat attitude is based on the idea that these powerful players’ withdrawal activities reveal their trust and confidence in Compound’s long-term potential, acting as a catalyst for the stock’s upward trend. The Superstate assets will have the chance to be represented on the Ethereum blockchain, claims a prospectus filed with the Securities and Exchange Commission. The prospectus stressed the use of blockchain technology and the advantages of “operational efficiencies” that come with it. On the Ethereum blockchain, Compound is a protocol for an algorithmic money market. In particular, the current DeFi craze is ascribed to this network for initiating it. In the middle of the summer of 2020, Compound was the first platform to introduce yield farming to the market. In many ways, yield farming is comparable to staking cryptocurrency. Leshner established one of DeFi’s earliest protocols to draw substantial asset contributions. Compound and a few other protocols, including MakerDAO, were among the first to demonstrate that blockchains might be used for purposes more than just transferring tokens. The DeFi Summer liquidity mining boom began with COMP’s introduction in June 2020. Meanwhile, rumors spreading across social media that COMP holders would get some form of airdrop from Superstate provide a potential reason for the price movement of COMP. However, there has been no formal statement from Superstate stating that COMP will participate in the activities of the new company. (This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk). Featured image from InsideBitcoins

On July 6, Douglas Park, a lawyer representing the BarnBridge decentralized autonomous organization, shared important news with the members via the platform’s Discord channel. Park disclosed that the Securities and Exchange Commission (SEC) had initiated an investigation into BarnBridge DAO and individuals associated with it. In an effort to mitigate potential legal liabilities, Park advised that all work on BarnBridge-related products, including the closure of liquidity pools, should cease. Additionally, he suggested that individuals should not receive compensation for their contributions resulting from the DAO’s investment activities. Shortly after Park’s message, co-founder Tyler Ward, also known as ‘Lord Tyler‘ on Discord, confirmed the accuracy of the information on BarnBridge’s Discord platform. While the reason behind the SEC’s probe into BarnBridge DAO was not explicitly explained by Park and Ward, Park clarified that due to the investigation being ongoing and non-public, only limited information could be shared at this time. Speculations Arise Among DAO Members In Response To Announcement Following the announcement, a number of BarnBridge DAO members expressed skepticism regarding the SEC’s investigation. One member on the Discord platform requested substantiating evidence of the SEC’s involvement and insinuated that BarnBridge’s founders might be using the investigation as a pretext for orchestrating an ‘exit strategy’ that could potentially defraud investors. Tyler Ward, however, dismissed this claim, asserting that it would be the “worst thought-out rug attempt in history,” implying that such intentions were baseless. Some members adopted a more light-hearted approach to the news, with one suggesting that it was time to relocate to Europe, humorously implying that DAO members could potentially evade scrutiny from the SEC. Another member playfully remarked that anyone who had engaged with BarnBridge would face dire consequences, jesting that SEC Chair Gary Gensler would ‘shoot’ them on live television, alluding to Gensler’s perceived strict stance on cryptocurrencies. The Impact Of SEC Lawsuits On BarnBridge Native Crypto And Previous SEC Lawsuits Following the emergence of the news about the investigation, the native token of BarnBridge, BOND, experienced a decline of 9.4%, with its price dropping to $3.02, CoinGecko shows. BOND is now down 98.3% from its all-time high of $185.7 on October 27, 2020, and presently has a market cap of only $28 million. This is not the only time the regulator is coming for crypto firms as the SEC recently made news for launching litigation against two leading industry exchanges, Binance and Coinbase, for purportedly providing unregistered securities. The reported investigation into BarnBridge, a DAO of moderate size, may indicate that the securities regulator is extending its scrutiny beyond the larger entities within the cryptocurrency space. This development raises questions about the breadth of the SEC’s focus within the industry.

Shytoshi Kusama revealed Shibarium launch date, which is expected to go live in August. The mainnet launch of Shibarium will take place at the Blockchain Futurist Conference in Toronto, Canada. Shiba Inu: Shytoshi Kusama, the lead developer of Shibarium, has announced that the highly anticipated Layer 2 blockchain solution will be going live soon. Kusama shared a recent blog post, revealing that the mainnet launch of Shibarium is scheduled to take place at the Blockchain Futurist Conference in Toronto, Canada. The conference, scheduled for August 13–17, 2023. Also, the conference will serve as a central hub for groundbreaking developments in the blockchain industry. As one of the major sponsors of the event, Shiba Inu’s Shibarium team believes that it provides the perfect platform to share their exciting news with the community. Shibarium will Impact SHIB? Shibarium, a Layer 2 protocol built on top of Ethereum, aims to address scalability and transaction fee issues. By utilizing off-chain systems and bundling multiple transactions into a single layer 1 transaction, Shibarium would reduce data load and fees. That improves the overall efficiency of the Ethereum network. However, with the definitive launch date set at the Blockchain Futurist Conference, the Shiba Inu community eagerly anticipated the unveiling of Shibarium. This development promises to enhance the Ethereum ecosystem. By providing a more scalable and cost-effective platform for decentralized applications (dApps) and transactions. Shiba Inu (SHIB) Price Chart (Source: CoinMarketCap) Despite the recent announcement from Shibarium, the price of Shiba Inu (SHIB) remained in a downtrend. At the time of writing, Shiba Inu traded at $0.000007232 with a 24-hour trading volume of over $124 million. Which soared about 21%. However, within a day, the SHIB price experienced a 5% decline. Causing it to drop to the 19th rank on CoinMarketCap. Recommended for you Shiba Inu (SHIB) Price Prediction 2023

Bullish XEC price prediction for 2023 is $0.00005046 to $0.00008538. eCash (XEC) price might reach $0.00008 soon. Bearish XEC price prediction for 2023 is $0.00002158. In this eCash (XEC) price prediction 2023, we will analyze the price patterns of XEC by using accurate trader-friendly technical analysis indicators and also predict the future movement of the cryptocurrency. eCash (XEC) Current Market Status Current Price $0.0000384 24 – Hour Trading Volume $280,265,501 24 – Hour Price Change 2.21% Up Circulating Supply 19,436,523,423,293 All – Time High $0.00005926(On December 27, 2021) XEC Current Market Status (Source: CoinMarketCap) What is eCash (XEC)? ECash (XEC) is the rebranded version of Bitcoin Cash ABC (BCHA), itself a fork of Bitcoin (BTC) and Bitcoin Cash (BCH). It called itself a cryptocurrency that is designed to be used as electronic cash. XEC is not an ERC-20 token, it is its own blockchain similar to Bitcoin (BTC). The developers of eCash (XEC) intend the coin to support Ethereum Virtual Machine (EVM)-compatibility and to be interoperable with the decentralized finance (DeFi) sector on Ethereum (ETH). eCash (XEC) Price Prediction 2023 eCash (XEC) ranks 52nd on CoinMarketCap in terms of its market capitalization. The overview of the eCash price prediction for 2023 is explained below with a daily time frame. XEC/USDT Horizontal Channel Pattern (Source: TradingView) Horizontal Channel also known as the sideways trend. In general, the horizontal channel is formed during the price consolidation. In this pattern, the upper trendline, the line which connects the highs, and the lower trendline, line which connects the lows, run horizontally parallel and the price action is contained within it. A horizontal channel is often regarded as one of the suitable patterns for timing the market as the buying and selling points are in consolidation At the time of analysis, the price of eCash (XEC) was recorded at $0.00003621. If the pattern trend continues, then the price of XEC might reach the resistance levels of $0.00004544 and $0.00009995. If the trend reverses, then the price of XEC may fall to the support of $0.00003114 and $0.00002078. eCash (XEC) Resistance and Support Levels The chart given below elucidates the possible resistance and support levels of eCash (XEC) in 2023 XEC/USDT Resistance and Support Levels (Source: TradingView) From the above chart, we can analyze and identify the following as the resistance and support levels of eCash (XEC) for 2023. Resistance Level 1 $0.00005046 Resistance Level 2 $0.00008538 Support Level 1 $0.00003372 Support Level 2 $0.00002158 Support and Resistance Level As per the above analysis, if Polygon’s (XEC) bulls take the lead, then it might hit and break through its resistance level of $0.00008538. Conversely, if Polygon’s (XEC) bears dominate the trend, the price of XEC might plunge to $0.00002158. eCash (XEC) Price Prediction 2023 — RVOL, MA, and RSI The technical analysis indicators such as Relative Volume (RVOL), Moving Average (MA), and Relative Strength Index (RSI) of eCash (XEC) are shown in the chart below. XEC/USDT RVOL, MA, RSI (Source: TradingView) The technical analysis indicator Relative Volume (RVOL) is used to measure the trading volume of an asset in relation to its recent average volumes. It is typically calculated by dividing the current day’s trading volume by the average volume over a specified period, such as the past 20 or 50 trading days. Also, it helps traders in identifying unusual trading activity and changes in market sentiment. At the time of analysis, the RVOL of eCash (XEC) was found below the cutoff line. Thus, it denotes a weak volume of participants trading in the current trend. The next technical indicator is the Moving Average (MA). This momentum indicator is used to smooth out price data and identify trends in the market. It helps in calculating the average price of an asset over a specific period. Particularly, the 50-day moving average (50 MA) evaluates the average closing price of the asset over the past 50 days. When the price of an asset is above 50MA, it is considered to be in an uptrend (bullish), and if laid below 50MA, it is in a downtrend (bearish). Notably, in the above chart, the XEC price lies above 50 MA (short-term), indicating its uptrend. Hence, XEC is in a bullish state. Although this is the current state, a trend reversal might occur. Next up is the Relative Strength Index (RSI). Significantly, this analysis indicator helps traders to determine the strength and momentum of an asset’s price movement over a specific period. In this analysis, the RSI is calculated by comparing the average gains and losses of the asset over the past 14 periods. The resulting value lies between a range of 0 and 100. Hence, the readings above 70 indicate an overbought state, and below 30 indicate an oversold state. Significantly, traders often use the RSI to identify potential trend reversals or to confirm the trend’s direction. For instance, if an asset is in an uptrend and the RSI reaches an overbought reading of 70, it may suggest that the asset is due for a pullback or correction. Conversely, if an asset is in a downtrend and the RSI is in an oversold reading of 30, it may suggest a potential reversal. At the time of analysis, the RSI of XEC is at 66.30. Therefore, this indicates XEC is in an nearly overbought state. eCash (XEC) Price Prediction 2023 — ADX, RVI In the below chart, we analyze the strength and volatility of eCash (XEC) using the following technical analysis indicators – Average Directional Index (ADX) and Relative Volatility Index (RVI). XEC/USDT ADX, RVI (Source: TradingView) To analyze the strength of the trend momentum, let us take note of the Average Directional Index (ADX). The ADX value is derived from the two directional movement indicators (DMI) such as +DI and -DI and is expressed between 0 to 100. According to the data on the above chart, the ADX of XEC lies in the range of 42.88 pointing out a strong trend. The above chart also displays another technical indicator – the Relative Volatility Index (RVI). This indicator measures the volatility of an asset’s price movement over a specific period. With respect to the chart’s data, the RVI of XEC lies above 50, indicating high volatility. Comparison of XEC with BTC, ETH Let us now compare the price movements of eCash (XEC) with that of Bitcoin (BTC), and Ethereum (ETH). BTC Vs ETH Vs XEC Price Comparison (Source: TradingView) From the above chart, we can interpret that the price actions XEC is a dissimilar trend with respect to BTC and ETH. This indicates that when the price of BTC and ETH increases , the price of XEC decreases. And when the price of BTC and ETH decreases, the price of XEC increases. eCash (XEC) Price Prediction 2024-2030 With the help of the aforementioned technical analysis indicators and trend patterns, let us predict the price of eCash (XEC) between 2024 and 2030. eCash (XEC) Price Prediction 2024 If bulls dominate the price momentum and trend patterns, then eCash (XEC) might successfully test and surpass its resistance levels to hit $0.00009 by 2024. eCash (XEC) Price Prediction 2025 The significant upgrades in the eCash Ecosystem might persuade the entry of an increased number of investors. This may eventually boost the eCash (XEC) price to reach $0.0001by 2025. eCash (XEC) Price Prediction 2026 If eCash (XEC) successfully tests its major resistance levels and continues to move upside, then it would rally to hit $0.0003. eCash (XEC) Price Prediction 2027 If eCash (XEC) sustains major resistance levels and stands as a better investment option in the market, then XEC would rally to hit $0.0005. eCash (XEC) Price Prediction 2028 If eCash (XEC) holds a positive market sentiment amid the highly-volatile crypto market by driving significant price rallies, then XEC would hit $0.0007 by 2028. eCash (XEC) Price Prediction 2029 If investors flock in and continue to place their bets on eCash (XEC), then the crypto would witness major spikes. Hence, XEC might hit $0.0009 by 2029. eCash (XEC) Price Prediction 2030 By 2030, the XEC price might rally to $0.002 if the trend momentum aligns in favor of Polygon. Furthermore, XEC would hold a positive market sentiment and be labeled as a long-term investment with highly profitable ROI. Conclusion If eCash (XEC) establishes itself as a good investment in 2023, this year would be favorable to the cryptocurrency. In conclusion, the bullish eCash (XEC) price prediction for 2023 is $0.00008538. Comparatively, the bearish eCash (XEC) price prediction for 2023 is $0.00002158. If there is a positive elevation in the market momentum and investors’ sentiment, then eCash (XEC) might hit $0.00008. Furthermore, with future upgrades and advancements in the eCash ecosystem, XEC might surpass its current all-time high (ATH) of $0.0005926 and mark its new ATH. FAQ 1. What is eCash (XEC)? eCash (XEC) is the rebranded version of Bitcoin Cash ABC (BCHA), itself a fork of Bitcoin (BTC) and Bitcoin Cash (BCH). It called itself a cryptocurrency that is designed to be used as electronic cash. 2. Where can you buy eCash (XEC)? Traders can trade eCash (XEC) on the following cryptocurrency exchanges such as Binance, KuCoin, Bitfinex, OKX and Gate.io. 3. Will eCash (XEC) record a new ATH soon? With the ongoing developments and upgrades within the eCash platform, eCash (XEC) has a high possibility of reaching its ATH soon. 4. What is the current all-time high (ATH) of eCash (XEC)? eCash (XEC) hit its current all-time high (ATH) of $0.0005926 On November 10,2021 5. What is the lowest price of eCash (XEC)? According to CoinMarketCap, XEC hit its all-time low (ATL) of $0.0000173 on Jul 20, 2021. 6. Will eCash (XEC) hit $0.00008? If eCash (XEC) becomes one of the active cryptocurrencies that majorly maintain a bullish trend, it might rally to hit $0.00008 soon. 7. What will be the eCash (XEC) price by 2024? eCash (XEC) price might reach $0.00009 by 2024. 8. What will be the eCash (XEC) price by 2025? eCash (XEC) price might reach $0.0001 by 2025. 9. What will be the eCash (XEC) price by 2026? eCash (XEC) price might reach $0.0003 by 2026. 10. What will be the eCash (XEC) price by 2027? eCash (XEC) price might reach $0.0005 by 2027. Litecoin (LTC) Price Prediction 2023 Ripple (XRP) Price Prediction 2023 Pepe (PEPE) Price Prediction 2023 Disclaimer: The opinion expressed in this chart solely author’s. It does not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.

As part of a new military assistance package worth up to $800 million for the war effort against Russia, the Biden administration has agreed to supply cluster bombs to Ukraine, and it is likely that the Pentagon will ship thousands of them on Friday, as per anonymous sources. Bradley and Stryker armored vehicles, as well as a variety of munitions, including rounds for howitzers and the High Mobility Artillery Rocket System, or HIMARS, will be among the weaponry sent by the Pentagon, according to authorities. Crypto to the Rescue The deputy digital minister of Ukraine has previously said that 60% of suppliers take cryptocurrency in exchange for “helmets and bullet proof vests” and other necessities of modern warfare. The Ukrainian government’s Twitter accounts started asking for Bitcoin, Ethereum, and the USDT stablecoin two days after the conflict broke out on 24 February 2022. More than 100,000 individuals have reportedly donated cryptocurrency to Ukraine. The government asserts that some of these funds originated in Russia. Alex Bornyakov, deputy digital minister, earlier said that contributions to Ukraine had ranged “from one dollar worth, to millions of dollars” in cryptocurrencies. According to him, the Ukrainians resorted to crypto from the outset of the invasion because they required urgent assistance. He predicted it would take days if they went via the standard banking system. According to the Minister, “We were able to secure the purchase of vital items in no time at all via crypto, and what is amazing is that around 60% of suppliers were able to accept crypto, I didn’t expect this.” The use of cryptocurrencies in relief efforts during the war and natural catastrophes has been crystal clear in the conflict in Ukraine. Cryptocurrency has gained popularity as a medium of exchange in recent years, with several countries and businesses exploring its use in various sectors. However, its adoption in government transactions, especially in defense or weapons procurement, is still relatively uncommon. The major question is whether or if Ukraine continues to employ cryptocurrency as a means of exchange for future payments. Looking at past transactions, it is highly likely that future deals would take place in crypto. Disclaimer: The opinions expressed in this article are solely those of the writer and not of this platform. The data in the article is based on reports that we do not warrant, endorse, or assume liability for. The information posted is not intended to defame or offend. Highlighted Crypto News Today: Ripple vs SEC New Update: XRP Holders at Risk?

Fantom (FTM) price has been experiencing a dip in the past few days. This fall appears to have worsened in the last 24 hours due to FUD (fear, uncertainty, and doubt) spreading amongst investors. CoinGecko data shows that the FTM token has lost 10.3% of its value in the last 24 hours. This price plunge has been linked to the movement of crypto assets from Multichain’s Fantom bridge to separate wallet addresses. FTM Price Declines Amidst “Abnormal” Withdrawals From Multichain Bridge There has been some uncertainty surrounding the Fantom network lately due to the “abnormal” movement of funds from its Multichain bridge – a cross-chain bridging protocol that enables the transfer of assets between different blockchains. Related Reading: SOL Price Prediction: Solana Smashes Key Resistance, $22 Could Be Next On July 6, over $100 million worth of crypto assets were withdrawn from Multichain’s Fantom bridge. On-chain data reveals that 7,214 Wrapped Ether (WETH) tokens (worth $13.6 million), 1,024 Wrapped Bitcoin (WBTC) (equivalent to $31 million), and $58 million worth of US Dollar Coin (USDC) were removed from the network’s multichain bridge. Furthermore, the movement of funds from bridges of other blockchains has also been reported. Notably, Dogechain saw the withdrawal of more than $600,000 in USDC from its bridge. In addition, $4.8 million of USDC and $1 million worth of Tether (USDT) were withdrawn from Multichain’s Moonriver bridge. Although Multichain operates on other blockchains, it is understood that the Fantom blockchain is particularly reliant on the cross-chain protocol. According to trading firm Thanefield, nearly 40% of crypto assets on Fantom (excluding its native FTM tokens) made it to the blockchain through Multichain’s bridges. The price of FTM has been on a decline since these on-chain activities came under focus. As of this writing, the FTM token trades at $0.269819, losing more than 10% of its value in the past day. Fantom Spreads Calm Amidst Fears Of Exploit In the early hours of today, Multichain took to Twitter to address these “abnormal” withdrawals, imploring its users to suspend the use of its platform. The protocol claims not to know what happened but assured its users that an investigation is ongoing. This announcement comes after speculations of exploitation by the general online population. Specifically, security firm PeckShield tagged the Multichain team in a tweet, asking the protocol to look at Fantom bridge transactions. Five hours after its initial tweet, the security firm then said “It seems the hack is confirmed.” It is worth noting that Multichain has been going through unspecified technical problems in the past few months. In May, the protocol’s team announced that it had lost contact with its CEO and was experiencing multiple issues due to unforeseeable circumstances. That said, Fantom has released a couple of statements on Twitter to address the issue. “We are aware of a situation unfolding on the Multichain bridge. We are actively evaluating the circumstances and will provide an update as soon as we have more to share,” the first tweet read. In another tweet, the network assured users that the FTM token was never issued or managed by Multichain. This means that WFTM (Wrapped Fantom), FTM ERC-20, and FTM on the Opera Mainnet are unaffected.

The purpose of the law is to create a system for licensing and regulating VASPs. The law is awaiting publication before it can take effect. The National Assembly of Namibia has passed a law offering regulation of cryptocurrencies and digital assets. Thus, becoming the latest country in Africa to do so. A measure to govern virtual assets, cryptocurrencies, and VASPs in Namibia was enacted by the lower house of parliament on June 22. The purpose of the law is to create a system for licensing and regulating VASPs. It also aims to establish a regulatory body to oversee the operations of such service providers. The primary goals are to safeguard consumers, stop market abuse, and reduce the potential for illegal activities like money laundering, terrorist funding, and proliferation to occur in the digital asset market. The legislation also extends to include ancillary concerns that arise out of these primary goals. Stringent Compliance The law, it has been reported in the local press, is awaiting publication before it can take effect. According to reports, Iipumbu Shiimi, Namibia’s Minister of Finance and Public Enterprises, has proposed creating a regulatory agency to oversee VASPs in the nation and provide licenses to those that meet certain criteria. According to media reports, service providers that fail to comply may be subject to fines of up to 10 million Namibian dollars ($671,572) and ten years in jail. The Bank of Namibia, however, remains firm on its stance that virtual currencies are not recognized as legal cash in Namibia. The bank made it clear in 2017 that it did not approve of customers using cryptocurrency to make purchases. It made clear that the decades-old legislation of the African nation does not permit the trading of virtual currencies. Highlighted Crypto News Today: Ripple vs SEC New Update: XRP Holders at Risk?

Litecoin (LTC) is generating significant buzz and excitement as its much-anticipated halving event approaches. With the halving just around the corner, whales—large investors—have started to make their moves, injecting a sense of urgency and driving increased interest in this crypto asset. As the countdown to the halving nears its final stages, whales have begun to enter the market, making strategic moves that have caught the attention of many. Their involvement not only reflects their confidence in Litecoin but also serves as a catalyst for renewed interest and excitement among traders and investors. Will Litecoin’s halving propel its price to new heights? Countdown To Litecoin Block Half At the time of writing, the Litecoin Block Half countdown indicated that the halving event is 26 days away. The halving, a crucial process within the Litecoin blockchain, is poised to have a significant impact on the cryptocurrency’s ecosystem. The concept of halving, also known as “halvening,” is an essential aspect of cryptocurrencies like Litecoin. It involves a predetermined reduction in the reward given to miners for validating transactions and securing the network. In the case of Litecoin, this reward reduction occurs approximately every four years or after the mining of 840,000 blocks. By halving the block reward, Litecoin aims to maintain a controlled and limited supply of its tokens over time. This scarcity-oriented approach is based on the belief that as the supply becomes scarcer, the demand and value of Litecoin will increase. Whale Activity And Price Surge Accompany Litecoin’s Halving CoinGecko‘s latest update reveals that LTC is currently priced at $96.93, reflecting an increase of 14% in the last seven days. In addition to the price surge, there has been a notable increase in whale activity within the Litecoin ecosystem. Whales, referring to large-scale investors, have made their presence felt, indicating a growing interest in Litecoin ahead of the halving. Recent data from a Litecoin price report indicates that over the past five months, an additional 32 addresses holding 10,000 or more LTC have emerged. This surge in whale activity has resulted in a significant 6% rise in the number of major LTC holders, bringing the total count of such holders to approximately 579 at the time of writing. These numbers underscore the growing confidence and participation of prominent investors in Litecoin’s future prospects, especially with the halving event on the horizon. (This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk). Featured image from Algoworks

Market research firm Kaiko has published a study on the flagship protocol of Ethereum, Lido Finance (LDO). The study is a must-read for every ETH and LDO investor! Cautionary tales serve as a valuable reminder of the risks and pitfalls that can await even the most promising projects. Remarkably, Lido Finance has embarked on a massive growth trajectory in recent months, reminiscent of former crypto industry poster child Three Arrows Capital (3AC). Riyad Carey, analyst at Kaiko, writes: Research Findings By Kaiko The in-depth research conducted by Kaiko offers critical insights into Lido’s operations and the potential risks it faces. According to Kaiko’s analysis, “Lido’s success story raises concerns about potential vulnerabilities and risks lurking beneath the surface.” By examining a wealth of data, Kaiko sheds light on liquidity challenges, leverage risks, and the potential for a large liquidation event. Lido Finance is a platform that allows users to stake Ethereum and receive stETH tokens, which represent the value of the initial deposit and staking rewards. Kaiko’s research reveals the impressive growth of stETH tokens over the past year and a half, with the supply increasing fivefold from 1.5 million to 7.5 million, and the number of holders rising from 40,000 to nearly 220,000. The analysis conducted by Kaiko also highlights the importance of liquidity in the context of staking derivatives like stETH. One crucial aspect emphasized by the research is Lido DAO’s reliance on Curve’s stETH-ETH pool for liquidity provision. Kaiko’s data shows that since June 2023, liquidity incentives for this pool have been fading. As a result, liquidity has contracted, and a downward trend is evident. This change in incentives raises concerns about the stability of the stETH-ETH pool during periods of stress or market events, potentially triggering a liquidity crisis. Another critical aspect explored by Kaiko’s research is the increasing leverage associated with stETH usage. The analysis points out that lending and borrowing protocols have become hubs for leverage, with stETH gaining popularity as an asset for leveraging strategies. However, the research highlights the fundamental differences between stETH and ETH, coupled with deteriorating on-chain liquidity raises concerns about the risks associated with these leveraged positions. Kaiko found that about one month after stETH was added to Aave V2 it became the most deposited asset, while ETH borrows skyrocketed from under $200mn to $1.6bn in just two months. The reason is alarming, according to the research firm: Implications For The Future Of Ethereum And Lido Based on the research, the combination of deteriorating liquidity and increasing leverage presents a precarious situation where a large liquidation event becomes more likely. Kaiko states: The data from Kaiko’s analysis reveals the withdrawal of liquidity from the stETH-ETH pool and emphasizes the potential risks arising from insufficient on- and off-chain liquidity. This liquidity shortage could hinder the liquidation of substantial stETH positions, potentially burdening lending and borrowing protocols with significant bad debt. Kaiko’s findings underscore the importance of caution, risk management, and proactive measures to address liquidity concerns in order to safeguard Lido’s future stability. In conclusion, the company has an advice for the Lido DAO: At press time, the LDO price plunged by 10% in the last 24 hours, trading at $1.90. The outlook for LDO currently looks extremely bearish as long as the price continues to move in the downtrend channel established in early March.

Solana (SOL) recently experienced a significant milestone by crossing the $20 price mark. This achievement has sparked considerable enthusiasm among investors and crypto enthusiasts alike, as Solana’s bullish momentum continues to gain traction. With its growing popularity and impressive performance, what can investors expect from Solana after this milestone? Let’s delve into the factors behind Solana’s recent success, explore its potential for further growth, and assess the risks and opportunities that lie ahead for this emerging cryptocurrency. Solana: Remarkable Surge And Bullish Sentiment Solana (SOL) has experienced an impressive ascent to new heights, as its price broke through the $20 threshold, reaching $20.27, according to the latest data from CoinGecko. This notable surge indicates a 3.9% rally within the past 24 hours, accompanied by a substantial overall increase of 11.7% over the course of the past seven days. Analyzing SOL’s Open Interest (OI) chart provides further evidence of the prevailing bullish sentiment in recent weeks. A SOL price report reveals a consistent upward trajectory of the OI, closely following the surge in prices since June 20. These findings indicate that speculators hold strong bullish convictions regarding SOL’s future prospects. Although there was a slight setback on July 3, which led to a pullback from $19.8 to $18.5, the price action and OI chart continue to signal an enduring bullish sentiment over the past two weeks. While the buying pressure may not be as robust, the upward trajectory of SOL’s performance could persist if Bitcoin (BTC), the leading cryptocurrency, were to experience further upward momentum. Bitcoin’s Role in Solana’s Momentum Bitcoin has an indirect influence on the overall cryptocurrency market, and Solana is no exception. As the Bitcoin price has safely maintained its position around the $30,000 level, it provides stability to the broader market and allows altcoins like Solana to flourish. Bitcoin’s stability helps maintain investor confidence and encourages risk-taking in other cryptocurrencies, including SOL. As a result, Solana has been able to experience its remarkable surge and sustain its bullish momentum. While SOL’s surge is driven primarily by its own merits and growing popularity as a blockchain platform, the overall market conditions shaped by Bitcoin’s stability have certainly played a part in facilitating Solana’s ascent. As investors seek alternative opportunities and diversification beyond Bitcoin, Solana’s impressive performance and potential for further growth have garnered significant attention and contributed to its recent surge. The interplay between SOL’s impressive surge and Bitcoin’s stable position raises intriguing questions about the potential impact of broader market factors on the future growth of Solana. (This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk). Featured image from 99 Walks

Binance significant senior executives exit the organization. Departures spark investor worries; CZ aims to restore confidence. Binance, the world’s largest cryptocurrency exchange, has recently taken steps to address concerns surrounding departures and regulatory challenges. Amidst a period of increased scrutiny, the company made efforts to alleviate the Investor’s FUDs. CEO Changpeng Zhao (CZ) utilized Twitter to clarify the situation, shedding light on the organization’s resilience and commitment to user protection. Binance Executive Exit Rises Investor FUD Investors were initially shaken by the news when Binance Executives left the company. CZ emphasized that turnover is a normal occurrence in growing organizations, particularly within the rapidly evolving crypto industry. He further clarified that the reasons speculated by the media were unfounded, providing investors with a clearer perspective on the situation. Expressing gratitude towards former team members for their contributions, CZ also congratulated those who successfully transitioned into new roles. It highlights the exceptional talent within the organization. In addition, Binance’s Global Chief Compliance Officer, Noah Perlman, confirmed his unwavering commitment to the company, dismissing rumors of his departure. Moreover, it is crucial to acknowledge that Binance recently encountered difficulties in navigating SEC regulatory setbacks. This created an atmosphere of unease for investors and now it got polluted more with the key member leaving Binance. However, CZ’s proactive response, assures investors of the company’s commitment to compliance. It played a pivotal role in restoring confidence in the exchange. Additionally, amidst the Binance executive exit, Binance’s native token, BNB, currently stands at $234, experiencing a decline of 2.74%. The trading volume has seen a significant increase of 26.00%. Over the past seven days, the price has experienced a 1.07% decrease. In conclusion, Binance’s ability to overcome obstacles and maintain its commitment to compliance and growth solidifies its position. Also, The recent efforts to address investor concerns and dispel FUD, combined with CZ’s proactive approach, contribute to restoring confidence among stakeholders.