Crypto Guides, Knowledge & Insights

Cardano is surpassed by Dogecoin as it moves up to eighth place among cryptocurrencies.

In the last seven days, the cost of Doge has increased by 131.23%. With a 24-hour trading activity of $15,024,853,397 USD, the Dogecoin price was $0.1344, up 50.34% in the previous day as of the time of publication. 　　Doge is presently positioned #8 with a live market valuation of $17,968,371,819 USD, ahead of Cardano, who is now in ninth place, and Solana, who is presently in tenth place, both with $14.4 billion and $11.9 billion.　　　　The meme currency increased on Monday after speculations that Tesla Motors CEO Elon Musk was planning to purchase Twitters social media network surfaced. Doges bullishness persisted over the course of the week, supported by two essential elements. 　　With the currency selling at $0.072, the price of Dogecoin increased by 14.52% on Wednesday, bringing the 24-hour increase to 21.22%. This week, DOGE has risen as a result of the cryptocurrency market cap growing and surpassing $1 trillion.　　Aside from that, Elon Musks efforts to finalize the Twitter takeover agreement greatly aided Doges rise. On Wednesday, the billionaire showed up at the Twitter headquarters, and on Friday, October 28, the sale was finalized, ending the six-month saga. The problem was discovered by Blockchain.News.　　Due to the possible influence of its

2022-11-02Deep Dive

Is Bitcoin Getting Ready to Leave the Current Bottom?

During intraday trade, Bitcoin increased by 6.6% over the previous seven days to reach $20,626, according to CoinMarketCap. 　　Bitcoin is currently closing in on the lower bound of the achieved price, which is currently set at $21,111. The realized price is the actual acquisition price per coin. It would indicate remarkable strength if it broke above it.　　There is still wealth redistribution. 　　The transfer of coin wealth typically occurs during the Bottom Discovery phase as a result of declining investment profitability forcing weak hands to capitulate under intense financial pressure. 　　　　The existing bear market may still necessitate more consolidation and duration, according to Glassnode, who used the UTXO Realized Price Distribution (URPD) indicator. This is due to fewer coins going to the government than during the 2018–2019 bottom discovery phase, when 22.7% of the available quantity was divided up. 　　The market insight provider noted:　　“Performing the same analysis in 2022, we can see that around 14.0% of supply has been redistributed since the price fell below the Realized Price in July, with a total of 20.1% of supply now having been acquired in this price range.”　　Although Bitcoin is about to leave below bottom, the bear-to-bull shift has not fully developed because there

2022-11-01Deep Dive

Vitalik Buterin Discusses Cryptocurrency Regulation

Before beginning to receive the attention it merits, the crypto industry, in Vitaliks opinion, still has to expand and mature. He also discussed the laws that affect how a crypto ecosystem functions from the inside out.　　“Basically, there are two main classes of regulatory policy goals: (i) consumer protection, (ii) making it harder for baddies to move large amounts of money around. The issues around (ii) are concentrated not in DeFi, but in large-scale crypto payments in general,” Vitalik stated.　　According to his shared beliefs, the Ethereum founder considers regulation that grants internal independence to cryptocurrency projects to be significantly less destructive than that which interferes with the internal workings of cryptocurrency. 　　Also noted by Vitalik was how irrelevant the concept of KYC (know-your-customer) on DeFi (decentralized finance) frontends appeared. He claims,　　“it would annoy users but do nothing against hackers. Hackers write custom code to interact with contracts already.”　　Vitalik went on to say that one of the concepts that is far more logical is KYC on exchanges, which is already happening today. In response to this, he made three suggestions that might be applicable to rules governing DeFi frontends.　　Limits on leverage, disclosure of the audits, FV, or other security checks performed on

2022-11-01Deep Dive

Dogecoin Prompted by Deal, Binance Affirms Equity Investment in Musk's Acquisition

Since Monday, Dogecoins price has increased by 35% as a result of the news that Elon Musk had successfully closed the deal to purchase the social media behemoth Twitter. Following the Tesla CEOs Wednesday modification of his Twitter bio to “Chief of Twit,” Doges price increased by 10%. 　　Musk completed the sale on Friday after a month-long spat with Twitter over it. Elon Musk, the CEO of Tesla, has reportedly signed a $44 billion deal to take over Twitter, a social media and online news company.　　　　Additionally, Musk made the decision to fire key employees like CEO Parag Agrawal and CFO Ned Segal. According to the release, CEO Parag Agarwal and CFO Ned Segal of Twitter have departed the firms San Francisco offices. According to a tweet from CNBC reporter David Faber, the execs “will not be returning.”　　On Thursday, Musk tweeted his enthusiasm over finalizing the purchase of Twitter and revealed the rationale behind the move:　　“Did it [bought Twitter] to try to help humanity, whom I love. And I do so with humility, recognizing that failure in pursuing this goal, despite our best efforts, is a very real possibility.”　　As Musk is reportedly planning to fire some of Twitters employees—up to “three-quarters

2022-11-01Deep Dive

As the USD weakens, Bitcoin surpasses $20,000 and Ether increases

The price of bitcoin officially surpassed $20,000 on Tuesday, October 25. As per TradingView, the biggest cryptocurrency is currently selling at $20,235.75, up 4.06% over the previous day. 　　　　The price of other digital currency has increased as well, notably Ether, which is displaying a strong optimistic feeling. In the past 24 hours, ETH has increased by 12%, and over 15% during the past 7 days.　　　　On BNB Coin, the price of bitcoin has officially surpassed the $20,000 mark and also is currently trading at $289.67. Cardano (ADA) is currently trading at $0.4125, up 14% in the last day, and continues to demonstrate extraordinary growth. Solana reversed its previous weeks downward trend and climbed 6% this week; the price of $SOL increased by 11% in the previous day. Both Polkadot and Litecoin have increased by 2% over the past 24 hours, showing bullish tendencies.　　On October 25, Bitcoin passed the $20,000 threshold as riskier assets gained from the US dollars minor depreciation. The upward movement was accompanied by an increase in US stocks, which in turn was fueled by a weakening US dollar that lost ground against the major trading partners currencies during the day. On Tuesday night, the US dollar index, which

2022-11-01Deep Dive

SBF thinks Hong Kong could become the Web3 hub of Asia

According to Forkast News, FTX creator Sam Bankman-Fried (SBF) stated during Hong Kongs FinTech Week 2022 that Hong Kong has the potential to become Asias Web3 hub.　　According to SBF, cities such as Dubai and the Bahamas are emerging as key crypto centers in their respective regions; however, the picture in Asia is much more hazy. While Singapore and Korea have the potential to become crypto centres in the region, SBF believes Hong Kong will take the crown.　　He stated:　　“If you look at what the worlds crypto centres will be, I think the Bahamas seems like one of them, Dubai looks like one of them, but the East is not as evident.” It may be Singapore, or it could be somewhere in Korea like Busan, but I believe it will be Hong Kong.　　Hong Kong on Crypto　　According to Chainalysis 2022 Global Crypto Adoption Index, Hong Kong ranks 46 out of 146 nations in terms of crypto adoption levels. According to Geminis Global State of Crypto, Hong Kong leads the Asia-Pacific region in crypto-adoption, with 24% of the population possessing crypto assets. In 2021, more than half (51%) of Hong Kongs crypto owners purchased their crypto assets.　　On October 31, Hong Kong issued a policy

2022-11-01Deep Dive

Over 95% of tokens launched on Uniswap are scams

According to a recent research titled “Do Not Rug On Me: Zero-Dimensional Scam Detection,” around 97% of the crypto projects launched on Uniswap are rug pulls.　　According to the research conducted by Bruno Mazorra, Victor Adan, and Vanesa Daza, the ease of Uniswap and its lack of regulation make it easy for scammers to offer non-valuable tokens on the platform.　　“If a token loses all of its liquidity or its price goes to zero and these levels are never restored, the likelihood that the falls are due to malevolent intent grows,” according to the paper.　　The investigation indicated that various tactics are utilized to dupe new investors into purchasing harmful tokens. To detect the harmful tokens traded in UniswapV2, researchers manually categorised malicious and non-malicious tokens, as illustrated below:　　“While this classification will provide a clear picture of the tokens in Uniswap,” the paper states, “it is dependent on non-observable variables such as intentionality and profits.”　　The investigation looked at 27,588 tokens, 631 of which were declared non-malicious and 26,957 of which were deemed malicious. The results are made up of 24,870 quick rug pulls and 2,087 non-LP Burns.　　This dataset is sufficient for the researchers to categorize all 26,957 tokens as malicious, implying that 97.7%

2022-11-01Deep Dive

eNaira adoption in Nigeria: CBN records over 0.5% progress after a year of its launch

By: Damian Okonkwo 　　The progress recorded so far towards the eNaira adoption in Nigeria seems to be a slow-paced one. This follows the assessment a year after the launch of the eNaira in Nigeria in which case it was discovered that only a few percentage of the citizens, roughly 0.5% have been confirmed to have interacted so far with the new Central Bank Introduced digital currency known today as the eNaira.　　According to the report by Bloomberg, the total population found to have embraced the use of the eNaira in Nigeria is currently between 217 million which is roughly 0.5% of the total population of the country.　　Some analysts tend to conclude that the average Nigerian especially the youthful population who have been found to be very active in Cryptocurrency within the country today have rather not paid attention to the use of the eNaira. Probably because its use does not rhyme with the traditional function of Cryptocurrency trading in the market today.　　Observing this slow-pace adoption of the eNaira during the anniversary of its launch last week Tuesday, the CBN has therefore decided to adopt a nationwide awareness campaign aimed at creating more awareness at the grassroot levels on the importance of

2022-11-01Deep Dive

Vitalik Buterin believes crypto still ‘needs time to mature’ before mainstream adoption

Vitalik Buterin, the founder of Ethereum, joined the ongoing discussion on cryptocurrency regulation over the weekend in a series of tweets. Sam Bankman-Fried, the CEO of FTX, has come under fire for his opinions regarding DeFi regulation. After expressing that it “feels unjust to allow other people get assaulted by CT but never truly push my own head out,” Buterin made the decision to express his ideas.　　According to Vitalik, the cryptocurrency sector needs more time to develop before attracting more attention, therefore it shouldnt be pursuing “big institutional capital at full speed.” The creator of Ethereum argued that the market has to be “free to act” and that a delay in widespread adoption is advantageous for the sector.　　“Policy that restricts how the crypto space operates internally is considerably worse than regulation that makes it more difficult for crypto ventures to gain traction in the mainstream.”　　Unlike SBF, who claimed that compromises may be necessary to maintain crypto regulation free at the protocol level, Vitalik argues that rules that keep crypto fully open but slow adoption are better.　　According to Vitalik, implementing KYC for front-end DeFi devices would be ineffective in repelling hackers. Hackers create programs to interface directly with smart contracts, therefore

2022-10-31Deep Dive

马斯克收购Twitter后，导致twitter股票退市！

社交媒体巨头 Twitter 于 10 月 27 日被 Elon Musk 正式收购，这笔交易引发了一场口水战、一场官司和一些人的解雇。马斯克以每股 54.2 美元的价格收购了该社交网络平台，使交易总价值接近 440 亿美元。　　twitter作为交易的一部分，马斯克还将公司私有化，导致公司股票退市，使其脱离公众股东的手中。　　在 2013 年在纽约证券交易所上市近九年后，Twitter 不再是一家上市公司。纽约证券交易所网站指出，Twitter 股票的交易将于 10 月 28 日冻结。除了纽约证券交易所，eToro 和 Robinhood 等加密友好型交易平台也将 Twitter 股票从其平台下架。　　Twitter 私有化对许多人来说可能并不令人意外，因为马斯克早在将其纳入交易之前就已经提出了这个想法，甚至在过去曾透露过他打算将特斯拉私有化。　　公开推特将为马斯克提供一定的监管优势，并为他节省数百万美元的罚款。（马斯克因“开玩笑”将特斯拉私有化而被罚款 4000 万美元。）作为一家上市公司会受到监管机构的严格审查，而马斯克与美国证券交易委员会的关系相当臭名昭著。　　作为一家私营公司，Twitter 也将避免一些财务公众审查，因为它不再需要每季度披露其业务的健康状况。　　这笔 440 亿美元的收购还有一个加密货币合作伙伴 Binance，据报道该合作伙伴为这笔交易贡献了 5 亿美元。Binance 持有 Twitter 的 5 亿美元股份，使其成为此次收购的第四大贡献者。

2022-10-30Deep Dive

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