Crypto Guides, Knowledge & Insights

Beware Manta Network’s Twitter Hacked, Spreading Fake Airdrop

The Manta Network project announced that the official Twitter account had been hacked.　　The attacker took advantage to notify users of a fake airdrop with Binance Labs.　　The project commented on the post announcing the hack and advised users not to click on any links.　　The ZK Layer 1 project invested by Binance Labs Manta Network announced that their official account had been hacked and announced a fraudulent airdrop.　　This morning, the Manta Network project announced an ongoing airdrop in cooperation with Binance Labs on its official Twitter account and asked users that the $MANTA token is launching today and is currently FREE to claim.　　“A month ago, we launched the NPO it provides private on-chain verification. We are now including FREE $MANTA token with every mint even if you have already minted!”Fake announcement sharing.　　However, right below the comment section of the article, many warnings were being given that Mantas account was compromised, there was no airdrop going on, and asked users not to click on any link.　　Only in the first 2 months of 2023, the Crypto market has become extremely exciting when continuously receiving strong growth from tokens according to AI, LSD, and the upcoming ZK narrative. Manta Network is also one of the

2023-06-28Deep Dive

Whales Shock Crypto Market With $PEPE and $ETH Swap

A whale withdrew 1.93T $PEPE from Binance, sold $LINK and $BNB, and swapped positions for $PEPE and $ETH.　　Such large transactions can impact the market but can be influenced by personal investment strategies and market conditions.　　The move to acquire a significant amount of $PEPE tokens suggests potential in this cryptocurrency and a calculated investment strategy with certain risks.　　Whales made a substantial withdrawal of 1.93 trillion $PEPE tokens, equivalent to approximately $3.03 million, from the popular exchange Binance.　　The transaction occurred approximately 11 hours ago, catching the attention of the crypto community.　　The whales not only withdrew $PEPE but also executed several trades involving other cryptocurrencies. The whale sold 97,735 $LINK tokens, valued at around $592,000, and 9,883 $BNB tokens, amounting to approximately $3.01 million. These sales resulted in a loss of approximately $342,000 for the whale.　　Following the sale of $LINK and $BNB, the whale made a strategic move by swapping all their positions for 1.93 trillion $PEPE tokens and 227 $ETH tokens, valued at around $424,000. This swap represents a significant shift in the whales portfolio and suggests their interest in diversifying holdings and exploring alternative investments.　　Such large-scale transactions by whales often attract attention due to their potential impact on the market. However,

2023-06-28Deep Dive

Caution: Delio Resumes Deposits And Withdrawals, But Users Are Suspicious

Delio, a South Korean cryptocurrency depository service, has resumed deposits and withdrawals of certain coins related to staking services.　　The recovery of damage is limited since the major coins linked to Haru Invest, which were identified as the source of the deposit and withdrawal restriction, have been omitted.　　Withdrawals for “Parking Account” coins have been stopped, and it remains to be seen how the situation with Haru Invest will be resolved.　　Delio, a South Korean cryptocurrency depository service, has begun depositing and withdrawing certain coins.　　According to Blockmedia, Delio declared on its webpage the day before that deposits and withdrawals of virtual assets connected to staking services, which had been halted on the 14th, would be resumed.　　Nevertheless, the recovery of damage is limited since the significant coins linked to Haru Invest, which were identified as the source of the deposit and withdrawal restriction, was omitted.　　Cardano (ADA), Solana (SOL), Tezos (XTZ), Polkadot (DOT), Kusama (KSM), and Near (NEAR) are the resuming targets (NEAR). The deposit and withdrawal deadline is June 28 at 12:00 p.m.　　Delio investors who had been waiting for the restoration of deposits and withdrawals were pleased. This is due to the fact that all of the coins provided by the firm in 12

2023-06-27Deep Dive

TRX Price Rebounds: Is $0.085 Within Reach Again?

TRX price increases above $0.0675 level against the US Dollar, similar to Bitcoin and Ethereum.　　TRX climbed above $0.070 resistance and the 100 simple moving average (4 hours).　　TRON price is now trading above $0.072 with the next major resistance near the $0.0800 level.　　TRX has experienced a notable increase, surpassing the $0.0675 level against the US Dollar, which is similar to what we have witnessed with Bitcoin and Ethereum.　　As a matter of fact, TRX has climbed above the $0.070 resistance and the 100 simple moving average (4 hours).　　This increase in Trons value can be attributed to several factors. Firstly, there was a clear movement above the 23.6% Fib retracement level of the key decline from the $0.0849 swing high to the $0.0646 low. Additionally, there was a break above a key bearish trend line with resistance near $0.0735 on the 4-hour chart of the TRX/USD pair. This indicates that there is a growing interest among investors in Tron.　　TRONs value is trading above $0.072 and the 100 simple moving average (4 hours). It is predicted that the value of Tron will continue to rise in the short term, with an initial resistance seen near the $0.0750 zone. This resistance is close to the

2023-06-27Deep Dive

Damus Founder Banned From Apple App Store: Crypto Investors Beware!

Decentralized social media app Damus threatened with delisting by Apple over “zaps” feature.　　Users can send small amounts of BTC over the Lightning Network to content creators.　　Apple wanted the zap button removed from all content sections, leading to criticism from users and former Twitter CEO Jack Dorsey.　　Damus is a decentralized social media platform that runs on the Nostr protocol, which is quite popular with bitcoiners.　　One of the reasons for its popularity is that most implementations of Nostr support payments over the blockchain‘s Lightning Network. Lightning is Bitcoin’s second layer payment network that enables faster transactions and lower transaction fees.　　The Damus app was launched in the App Store earlier this year, but it faced a threat of delisting on June 13. The reason behind this threat was the “zaps” feature of the app, which allows users to send small amounts of bitcoin over the Lightning Network to tip their favorite content creators. This feature is similar to Twitters “tip” feature. Apple deemed this feature to be a violation of its App Store Review Guidelines 3.1.1 and 3.2.1 (vii).　　According to Apple, the zap button should be removed from all “notes” or content sections as this is equivalent to selling digital content. However, it

2023-06-27Deep Dive

Binance.US Solves USD Withdrawal Problems but Warns that Solution Is Only Temporary

Binance.US withdrawals are now fully operational on the exchange, even as it warns users to convert all USD to USDT.　　Binance.US has announced that users can now resume USD withdrawal, as it has solved the problem. The US arm of the worlds largest crypto agency also said that by working with banking partners, it has almost completely resolved all previously delayed withdrawal requests for USD. However, the exchange warns that this resolution may not be permanent.　　In an official announcement, Binance.US noted that its systems are fully operational and that users with failed requests can begin to resubmit. The exchange then assured that all requests would be successful within the usual maximum time frame of five business days. Nonetheless, Binance.US advises users to quickly switch to stablecoins.　　Binance Suspended USD Withdrawals after SEC Lawsuit　　Earlier in the month, Binance.US suspended USD deposits, noting at the time that banking partners were also preparing to suspend withdrawals. The move came shortly after the United States Securities and Exchange Commission (SEC) sued Binance for violating securities laws, commingling investor funds, misleading customers, and allowing “high-value US customers” to trade outside Binance.US. The companys US arm was launched as an independent company designed to follow US securities and

2023-06-26Deep Dive

BNB Can’t Break Through $255, What Happens Next?

BNBs value has fallen due to external pressures and investor sentiment, failing to break through the Fib 23.6% level and currently trading below $240.　　The market for Binance Coin is currently pessimistic due to regulatory issues related to the Binance exchange.　　If the coin breaks below the $220-$225 price zone, it could lead to panic selling, but a slow rally could help strengthen its position and potentially reclaim the $250 price point.　　BNB still seems to be in a pessimistic state, as the whole market is still bullish. The reason is why？　　The date of Greenfields future maintenance update has been revealed by BNB Chain. The update will not only correct a few flaws in BNB Greenfield, but it will also include a slew of new features.　　According to the notice, all objects previously saved on the Greenfield Testnet will be wiped and will no longer be accessible for inquiry. Some noteworthy features include support for multiple messages in a transaction using the EIP712 sign method.　　BNB will provide functionality that will enable mirroring buckets, objects, or groups by ID or name. Moreover, the upgrade will add keyManager support to txOpt, allowing it to manage a huge batch of transactions submitted by a single client.　　Despite the

2023-06-26Deep Dive

Hong Kong’s ‘One Country, Two Systems’ Policy Boosts Virtual Asset Ecosystem

As we approach next month, Hong Kong is set to commemorate a significant milestone: the 25th anniversary of its reunification with mainland China.　　As the milestone approaches, the citys burgeoning crypto hub is seen as a major benefit of the “One Country, Two Systems” policy.　　In recent days, regulators and other stakeholders have been discussing opportunities for Hong Kongs virtual assets sector.　　As Hong Kong continues its efforts to become a leading global hub for virtual asset services, regulators have acknowledged that crypto trading plays a crucial role.　　Opportunities in the space are being debated ahead of the 25th anniversary of the establishment of the Hong Kong Special Administrative Region (HKSAR). And as they mark the milestone, officials are talking up Hong Kongs growing status as a major center of virtual asset activity in the Asia Pacific and beyond.　　Crypto Trading is an Important Part of the Virtual Asset Ecosystem　　During an event in Bangkok last week, Leung Fung-yee, the Chief Executive of the Hong Kong Securities and Futures Commission (HKSFC), delivered a speech on the citys new virtual asset licensing regime.　　In her speech, Fung-yee said that the Commissions goal is not to make HKSAR a cryptocurrency trading center. However, she said it recognizes that crypto

2023-06-26Deep Dive

To HODL or not? Bitcoin investors should rethink their strategy as…

Bitcoin‘s illiquid supply equated to more than 78% of BTC’s total circulating supply, indicating a marked rise in HODLing sentiment.　　As per the on-chain analytics firm Glassnode, a fascinating divergence came to light between supply on exchanges (i.e, liquid supply) and supply held in illiquid wallets with no history of spending. While the exchange balance dropped to 2.3 million, the lowest since early 2018, the illiquid supply reached a fresh all-time high of 15.2 million.　　Source: Glassnode　　BTC available for trading falls　　BTC‘s illiquid supply has continuously increased in Q2 2023, as shown below, revealing an inversely proportional relationship with BTC’s price. It was interesting to note that the illiquid supply equated to more than 78% of BTCs total circulating supply, indicating a marked rise in HODLing sentiment.　　Source: Glassnode　　This trend could be explained by the fact that Bitcoin was increasingly viewed as a ‘Store of Value’ rather than a speculative asset in intraday trading, lending credence to its long-held narrative of being a safe-haven asset.　　Will the sentiment change？　　After extended periods of rangebound price movement, BTC breached the $30,000 mark at press time, the first time since mid-April, as per CoinMarketCap. According to blockchain analytics firm Santiment, this caused a dramatic shift in investors behavior

2023-06-25Deep Dive

Bitcoin bulls have one last hurdle before $35k

A recent report highlighted the growing accumulation among Bitcoin sharks but distribution among miners.　　The market was riding a wave of disbelief higher, and Bitcoins sally past $30.8k could open the bullish floodgates.　　A retracement back toward $28k could offer a buying opportunity.　　Bitcoin [BTC] did not see a retracement beneath the $29k mark over the past two days. Instead, the bulls could defend the $29.6k level, as at the time of writing, BTC was trading at $30.7k.　　A recent report highlighted the growing accumulation among Bitcoin sharks, but BTC miners and whales aided the distribution of the king coin. Despite market sentiment in recent weeks, demand and prices continued to grow, and could catch long-term bears offside.　　The price is at a vital resistance once more, but a breakout was likely　　Source: BTC/USDT on TradingView　　The daily timeframe bias for Bitcoin was bullish. The prices retested a crucial resistance in the vicinity of $30k. In particular, the $30.8k level served as resistance back in mid-April. A move above this level appeared likely.　　The trend has been bullish in 2023, although that doesnt mean a bull run was on. Above $30.8k-$31.5k, the next levels of resistance to watch out for are $32.8k and $34.5k. The 100% Fibonacci extension

2023-06-25Deep Dive

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