Crypto Guides, Knowledge & Insights

Ethereum fork divides crypto community

The demand for a hard fork of the cryptocurrency Ether has grown in the wake of Chandler Guos public vow to fork Ether. MEXC, Gate Exchange, and BitMEX have all come out in support of ETH hard forks. Huobi and OKEx have made hints that they might allow forked Ether to be traded on their platforms. But these exchanges dont support pre-mining or forking on a whim, which could stunt the growth of the industry. Hard forks are not supported by Chainlink or the Digital Currency Group.　　The Chainlink protocol does not support any Ethereum blockchain forks, including PoW forks. We anticipate that after the split, ETH vs ETHPoW will be a highly traded pair, at least until a new dynamic emerges in the cryptocurrency market. Vitalik Buterin has claimed those who advocate for the network to remain a PoW model do so only for financial gain.　　In response to this issue, the founder of Ethereum which is Vitalik Buterin says: “I dont expect [Ethereum] to really be significantly harmed by another fork”. Some are pushing against the merge by advertising for a potential continued “ETH PoW” chain post-upgrade. ETH PoW has been driven by miners, who have something to lose after

2022-08-09Deep Dive

Binance and WazirX founders debate ownership

The seizure of the bank account of WazirX, one of Indias most well-known cryptocurrency trading platforms, by the Enforcement Directorate (ED), as previously reported by Blockchain.News, has raised fresh concerns regarding the trading platforms ownership.　　Binances CEO, Changpeng Zhao, and WazirXs founder, Nischal Shetty, have both distanced themselves from the troubled trading platform, as it appears the authorities are on the case.　　The feud began when Nischal posted on Twitter about Binance Exchange owning the trading platform and Zanmai Labs, the firm that he and his team manage and operates the Indian Rupee/crypto trading pairs on the platform under a Binance license. According to Nischals explanation, the Binance exchange manages the crypto-crypto trading pairings on the WazirX platform.　　Changpeng Zhao disputed with Nischal in part, pointing out that while Binance Exchange purchased WazirX, the larger exchange solely owns the exchanges Amazon Web Services (AWS) login information and offers wallet services. According to CZ, as he is well known, the “WazirX founding team maintained control of the platforms operations.” We (Binance) were never given data or control over users, KYC, or anything else.　　The fight between the two crypto leaders lasted all weekend, as industry onlookers questioned the veracity of both veterans statements. In reality,

2022-08-08Deep Dive

Bybit-backed gaming platform enters the Web3 world

Yeeha Games, a $50 million-funded GameFi platform sponsored by crypto exchange Bybit, has joined the Web3 realm to serve as a bridge between GameFi and traditional gaming.　　Yeeha Games creates an environment in which players may trade in-game assets. As a result, the platform wants to showcase a variety of blockchain games over the next eighteen months in order to improve the Web3 experience.　　Choy Wai Cheong (Choy), Yeeha Games co-founder and COO, stated:　　“In 2021, the GameFi industry had tremendous growth.” However, when compared to the traditional gaming sector, we see enormous untapped potential. We need titles that appeal to conventional gamers to entice people to web3.　　“Integrating blockchain components into game genres with proven popularity in the traditional gaming business is a smart starting point,” Cheong added.　　Because consumers are not compelled to acquire cryptocurrencies, Yeeha Games free-to-play games serve as a stepping stone toward Web3 gaming.　　Bybits co-founder and CEO, Ben Zhou, stated:　　“We are thrilled about GameFis future and how it will realize the promise of the metaverse and the internet through gaming.” We hope to demonstrate our commitment to bringing technological advancements to a broader society through this collaboration.　　Zhou believes that by creating a fair playing field, GameFi will be able to

2022-08-08Deep Dive

Naira devaluation raises more interest in Cryptocurrency trading in Nigeria today

By: Damian Okonkwo　　The prolonged fall of the Nigerian Naira against the US dollar in the past two weeks has to a large extent boosted interest in Cryptocurrency trading among Nigerian citizens in the last quarter of 2022.　　Watching the Naira lose value daily has pushed the citizens to seek alternative businesses to enable them to make profits in dollar and exchange them at the current high naira to the dollar exchange rate.　　A more supporting data to this view is the Bitget crypto exchange report which surveyed the growth rate for cryptocurrency trading in Africa in the first half of 2022. According to the research which was carried out by this popular cryptocurrency exchange operating in the country, in conjunction with the American management consulting firm known as Boston Consulting Group (BCG) - Nigeria was discovered to be the second largest market for cryptocurrencies in Africa during the first half of 2022.　　The details of this report have been provided in the presentation titled “What Does the Future Hold for Crypto Exchanges,”. Here it was revealed that Nigeria has the second largest market for cryptocurrency traders in Africa today after South Africa which ranks the number one largest market for crypto traders. The

2022-08-08Deep Dive

Sneaker MarketPlace Enters Metaverse to Drive Innovation

The Edit LDNs creator, Moses Rashid, stated:　　“Our collaboration with Bloktopia is our first significant step toward realizing our objective of being the most inventive company in the market.”　　The premium store will be located in Bloktopias crypto paradise. Bloktopia is a virtual reality (VR) skyscraper created in the Unity gaming engine and powered by Web3 technology.　　Bloktopias CEO, Ross Tavakoli, stated:　　“As a major sneakerhead myself, were thrilled to be partnering with Edit LDN, the UKs number one sneaker destination.” In-app purchases like as skins (digital apparel) for avatars earn Fortnite $2 million every day. Bloktopia will provide a unique, interoperable choice.　　As a result, the Bloktopia metaverse aspires to be the next edition of the internet, allowing users to do anything in the real world.　　The Edit LDN has evolved as the foremost sneaker destination in the United Kingdom, offering a worldwide audience, with an annual growth rate of 525 percent since its start in 2020. Furthermore, its expansion is predicted to reach 500 percent this year.　　The metaverse reality is expected to grow in popularity since people are likely to buy trendy clothes for their avatars just as they would for themselves.　　Tavakoli mentioned:　　“Allowing the purchase of digital wearables, in this case shoes, via an

2022-08-08Deep Dive

Coinbase rises ahead of the release of the second-quarter earnings report

On Thursday, Coinbase shares soared 10% after BlackRock, the worlds largest asset manager, announced a collaboration with crypto exchange Coinbase to give institutional investors with a new crypto entry point.　　Earlier in the day, the stock was up almost 40%.　　BlackRocks Aladdin will interface with Coinbase Prime via a strategic relationship to give institutional investors with direct, frictionless cryptocurrency access, beginning with Bitcoin (BTC).　　Coinbase Prime is the institutional prime brokerage branch of cryptocurrency exchange Coinbase, integrating block financing, sophisticated agency trading, equity infrastructure, and reporting needed throughout the trade lifecycle.　　Coinbase Prime will offer crypto trading, prime brokerage, reporting, and custody through the exchange to over 13,000 institutional clients.　　The second-quarter profits of Coinbase Global (COIN) will be announced after the market closes on Tuesday afternoon. Sell-side experts anticipate a significant reduction in Coinbase trade volume from the $309 million recorded in the first quarter.　　Needham analyst John Todaro has a Buy rating and a $89 price objective on COIN. The stocks current price of $93 seems a little excessive.　　Trading volumes on exchanges have undoubtedly reduced since the onset of the crypto winter. However, other experts, such as DA Davidsons Chris Brendler, remain optimistic.　　With a buy rating and a $90 price target, he believes the

2022-08-08Deep Dive

Binance Card adds Ripple, Shiba Inu, and Avalanche (AVAX)

Binance, a major global cryptocurrency exchange, said on Friday that three new cryptocurrencies, including Ripple (XRP), Shiba Inu (SHIB), and Avalanche, have been added to its Binance Card (AVAX).　　Cardano (ADA), Avalanche (AVAX), BNB, Bitcoin (BTC), Binance USD (BUSD), Polkadot (DOT), Ether (ETH), S.S. Lazio Fan Token (LAZIO), FC Porto Fan Token (PORTO), Santos FC Fan Token (SANTOS), SHIB, Swipe (SXP), Tether (USDT), and Ripple are among the 14 cryptocurrencies supported by the card (XRP).　　Binance stated on its official website:　　Binance　　Card is only available to Binance users living in the EEA and Ukrainian　　refugees residing in the EEA country (Binance Refugee Crypto Card) at 　　the moment.　　According to the release, Binance Cardholders may use it to make purchases and pay bills in over 60 million online and physical establishments using cryptocurrencies such as Bitcoin and BNB.　　Binance also announced that existing Binance Card customers payment priority selections will not change.　　Binance, a cryptocurrency exchange, announced Thursday the introduction of a crypto prepaid card in Argentina in collaboration with Mastercard in order to bridge the gap between cryptocurrencies and ordinary expenditures.　　At first glance, the Binance Card appears to be an avenue for increasing usefulness for Binance ecosystem customers. As a result, more users will place greater value

2022-08-08Deep Dive

The Future of NFTs: Digital Art And Beyond

What Are NFTs？　　NFTs are digital assets that may be purchased and traded on blockchain-based platforms. Contrary to popular belief, NFTs are not by definition works of art. They are digital assistants that can be utilized in a variety of situations.　　NFTs stand for “non-fungible tokens” because each NFT is unique and cannot be traded with another NFT of the same type (like Bitcoin). Additionally, NFTs have become popular to monetize digital art by selling NFTs that represent art pieces or other items in an NFT marketplace. Furthermore, NFTs can also be used to buy and sell digital real estate (land) on blockchain-based games like Decentraland and in the Metaverse.　　Furthermore, NFTs are popular in the NBA as they sell NFTs of winning shots and the most famous rookie moves. We see a boom in NFTs for digital assets, but they have crossed over for physical assets, such as real estate.　　Blockchain Simplified　　Before delving too far into NFTs, its critical to understand that they operate on the blockchain. Blockchains use cryptography to build a secure chain for recording transactions that are impermeable, tamper-proof, and transparent. The information stored in these blocks cannot be changed or copied.　　NFTs Bridge To Physical Attests　　Youve probably heard of the

2022-08-07Deep Dive

Top 10 undervalued cryptocurrencies in 2022

Many cryptocurrencies have generated large profits for investors who recognized their potential and purchased them when they were inexpensive. However, many investors have lost money by investing in overpriced coins. Finding undervalued assets is difficult, particularly when it comes to cryptocurrencies. In this article, well look at some of the most undervalued cryptocurrencies with high upside potential.　　The most popular cryptocurrencies in 2022　　Investing in the most popular cryptocurrencies no longer provides truly exceptional returns. Popular cryptocurrencies are no longer generally undervalued, at least in the short term, but they may still be undervalued in the long run. So, if you want to find truly undervalued cryptocurrencies, look for lesser-known projects.　　The most popular cryptocurrencies, excluding stablecoins (as of 09/06/22)　　Should I invest in the most popular crypto？　　It is determined by your investment strategy. Investing in the most popular cryptocurrencies is typically less profitable but also less risky than investing in lesser-known cryptocurrencies. The exception is cryptocurrencies, which have recently gained popularity due to hype. These cryptocurrencies are frequently overpriced and risky to invest in.　　What is undervalued crypto？　　Cryptocurrencies that are undervalued are those whose current market price is less than their perceived true value. Many crypto investors seek out such cryptocurrencies in order to

2022-08-06Deep Dive

WHAT IS THE BEST CRYPTO YIELD FARMING?

Yield farming is a new investment structure that allows investors to earn interest on their crypto holdings. This ‘crypto holding’ is called stake, its a certain amount of crypto you lock up. This is quite similar to how you get interest on deposit from your savings at a traditional bank.　　Crypto yield farming is a lending protocol that allows users to deposit cryptocurrencies into a lending contract and receive interest payments in return. The protocol uses a decentralized app (dApp), making it easier for users to find and use. Crypto yield farming is designed to provide an alternative to traditional banking services and help people earn money from their cryptocurrencies.　　There are various types of yield farming;　　Liquidity Provider: In the DeFi space, coins are used as a form of liquidity. This allows for quick trades and the smooth functioning of the Defi network. People in the DeFi space provide their coins for the functioning of the liquidity pool. The usage of the DeFi network incurs fees from the users, and the fees are used to pay liquidity providers for staking their own tokens.　　Lending: This type of yield farming is done by investors who have tokens to lend; they lend out their crypto

2022-08-06Deep Dive

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