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#Chainlink (LINK) Price Explosion: What Happened? Ethereum (#ETH ) Price Rally Lacks Backbone, Can Bitcoin ($BTC ) Break Through 50 EMA?
Chainlink has outpaced the broader crypto market with a remarkable 16% surge in the last 48 hours, driven by various factors, including a surge in activity within previously dormant wallets, signaling renewed movement in the Chainlink ecosystem.
Chainlink (LINK) has experienced a notable surge, evident in the spike of Age Consumed to 5.38 billion, indicating increased coin movement after days of inactivity. This heightened activity has injected volatility and liquidity, driving the price upward. Technically, Chainlink has surpassed key resistance levels and is working to establish new support. The breach of the significant resistance at $15.29 signals strong bullish sentiment, potentially leading to further growth with sustained momentum.
Chainlink (LINK) faces a key hurdle at around $18.39, signaling potential for an extended upward trend. Support is expected around $14.29, with a further decline possibly testing the $13.18 zone.
Ethereum contends with stagnation amid competition from rivals like Solana, which is gaining momentum in #blockchain activity.
Ethereum's price is consolidating around $2,300, struggling to muster the strength for a decisive move. The key resistance level at $2,337 presents a hurdle, and a breakthrough could lead to testing the $2,450 zone. Support levels at $2,193 and $2,042 may come into play, indicating a cautious market sentiment with investors possibly waiting for a stronger trend reversal signal.
Bitcoin's recent breach above the 50-day Exponential Moving Average (EMA) indicates strength and a potential reversal from consolidation. The 50 EMA, historically crucial for determining short-term trends, now serves as significant support. Priced around $42,000, Bitcoin targets further gains, aiming to test the $43,500 resistance. Sustaining momentum above the 50 EMA is vital to preserve the optimistic outlook and prevent fallbacks.
Source - u.today
#CryptoNews #BinanceSquareTalks
Chainlink has outpaced the broader crypto market with a remarkable 16% surge in the last 48 hours, driven by various factors, including a surge in activity within previously dormant wallets, signaling renewed movement in the Chainlink ecosystem.
Chainlink (LINK) has experienced a notable surge, evident in the spike of Age Consumed to 5.38 billion, indicating increased coin movement after days of inactivity. This heightened activity has injected volatility and liquidity, driving the price upward. Technically, Chainlink has surpassed key resistance levels and is working to establish new support. The breach of the significant resistance at $15.29 signals strong bullish sentiment, potentially leading to further growth with sustained momentum.
Chainlink (LINK) faces a key hurdle at around $18.39, signaling potential for an extended upward trend. Support is expected around $14.29, with a further decline possibly testing the $13.18 zone.
Ethereum contends with stagnation amid competition from rivals like Solana, which is gaining momentum in #blockchain activity.
Ethereum's price is consolidating around $2,300, struggling to muster the strength for a decisive move. The key resistance level at $2,337 presents a hurdle, and a breakthrough could lead to testing the $2,450 zone. Support levels at $2,193 and $2,042 may come into play, indicating a cautious market sentiment with investors possibly waiting for a stronger trend reversal signal.
Bitcoin's recent breach above the 50-day Exponential Moving Average (EMA) indicates strength and a potential reversal from consolidation. The 50 EMA, historically crucial for determining short-term trends, now serves as significant support. Priced around $42,000, Bitcoin targets further gains, aiming to test the $43,500 resistance. Sustaining momentum above the 50 EMA is vital to preserve the optimistic outlook and prevent fallbacks.
Source - u.today
#CryptoNews #BinanceSquareTalks
To celebrate its third birthday and the launch of its latest game, “Illuvium: Beyond”, AAA blockchain game Illuvium is offering a special deal for NFT collectors: Mint 1, Get 1 Free campaign for all gamers.
#Illuvium #blockchain #nft #Illuvium2024
#Illuvium #blockchain #nft #Illuvium2024
👉👉👉 #blockchain Startup Figure Technologies Seeks US Regulatory Approval for Interest-Bearing #stablecoin
Figure Technologies, a financial technology company founded by former #SOFI Technologies CEO Mike Cagney, is seeking approval from U.S. regulators to launch an interest-bearing stablecoin. If approved, Figure would become the first company to offer a stablecoin regulated as a security in the United States. The company filed a draft registration statement with the Securities and Exchange Commission (SEC) in October under the subsidiary name Figure Certificate Co.
The stablecoin is planned to be registered as "face-amount certificates," a type of fixed-income security, and issued using blockchain technology. Once approved, it will be available to both retail and institutional investors in the U.S. Figure Markets, the digital asset arm of Figure, is reportedly seeking to raise $50 million at a valuation of $250 million, with Jump Crypto potentially being considered as a lead investor.
Unlike traditional stablecoins pegged at a 1:1 ratio with the U.S. dollar, Figure's stablecoin will be redeemable at a value of 1 cent per certificate. Interest will accrue daily and be paid monthly to stablecoin holders, and the interest will be derived from reserves consisting of treasury securities, commercial paper, corporate debt, and other assets. The stablecoin is intended to be an alternative for payments and transaction settlements, offering yield backed by highly liquid, investment-grade assets.
It's important to note that approval for Figure's proposal is not guaranteed, and the application process is likely to contribute to ongoing debates on how stablecoins should be regulated in the U.S. President Joe Biden has identified oversight of the stablecoin sector as a priority, and Figure's initiative adds to the evolving landscape of digital assets and financial products.
Source - Cryptonews.com
#CryptoNews #BinanceSquare
Figure Technologies, a financial technology company founded by former #SOFI Technologies CEO Mike Cagney, is seeking approval from U.S. regulators to launch an interest-bearing stablecoin. If approved, Figure would become the first company to offer a stablecoin regulated as a security in the United States. The company filed a draft registration statement with the Securities and Exchange Commission (SEC) in October under the subsidiary name Figure Certificate Co.
The stablecoin is planned to be registered as "face-amount certificates," a type of fixed-income security, and issued using blockchain technology. Once approved, it will be available to both retail and institutional investors in the U.S. Figure Markets, the digital asset arm of Figure, is reportedly seeking to raise $50 million at a valuation of $250 million, with Jump Crypto potentially being considered as a lead investor.
Unlike traditional stablecoins pegged at a 1:1 ratio with the U.S. dollar, Figure's stablecoin will be redeemable at a value of 1 cent per certificate. Interest will accrue daily and be paid monthly to stablecoin holders, and the interest will be derived from reserves consisting of treasury securities, commercial paper, corporate debt, and other assets. The stablecoin is intended to be an alternative for payments and transaction settlements, offering yield backed by highly liquid, investment-grade assets.
It's important to note that approval for Figure's proposal is not guaranteed, and the application process is likely to contribute to ongoing debates on how stablecoins should be regulated in the U.S. President Joe Biden has identified oversight of the stablecoin sector as a priority, and Figure's initiative adds to the evolving landscape of digital assets and financial products.
Source - Cryptonews.com
#CryptoNews #BinanceSquare
Introducing the R-DEE Protocol™ Network by Radiologex, a custom-made blockchain platform for the global healthcare IT industry, brought to you by Radiologex Technologies Ltd.
Radiologex Technologies Ltd. is set to initiate the eagerly anticipated distribution of RDGX tokens.
#blockchain #RDEE #RDGX #radiologex
Radiologex Technologies Ltd. is set to initiate the eagerly anticipated distribution of RDGX tokens.
#blockchain #RDEE #RDGX #radiologex
Terra (LUNA) Issues Important Notice to NFT Projects: Details
#BTC LUNA was up 0.67% in last 24 hours to $0.66 at time of writingDisclaimer: 🗣🗣Empower Our Mission: Tips For Dedicated Service. 🗣🗣👉Users are encouraged to support the mission by offering generous tips.🗣This empowers creators to work even harder, ensuring the continued delivery of top-notch investment advice. Terra (#LUNA+4.07% ) has issued an important notice regarding non-fungible token (NFT) projects that are built on its network. The notice, which was posted by the official Terra X handle, alerts NFT projects to a new era launching on the Terra network.As stated in the announcement, interchain NFTs are coming to Cosmos, powered by cross-chain NFT platform Ark Protocol. Terra would likewise stand to benefit from this new era of InterChain #nfts .📢 Attention Terra NFT projectsInterchain NFTs are coming to Cosmos, powered by Ark Protocol. If you'd like a chance for your collection to be included in Ark Protocol's next phase, join their Discord and create a ticket to introduce your collection!https://t.co/juNHa5o4U1— Terra 🌍 Powered by $LUNA 🌕 (@terra_money) January 10, 2024This is because Terra NFT-related projects would get a chance to showcase their NFTs across multiple chains; Ark Protocol will be selecting collections per chain for its next phase.Chris Amani, CEO of Terra, relays this same notice on X, bringing the attention of NFT creators to this important announcement.Following the implosion of its ecosystem in May 2022, Terra (LUNA), the new Terra #blockchain launched after the fall, is committed to rebuilding from the rubble of its once glorious empire.In 2023, various #community proposals and updates were implemented. This trend can be seen at the start of 2024, as a scroll through Terra's X feed reveals new upgrades and developments in the first 10 days of 2024.Station, a web application built to interact with Terra Core and other supported chains, has gotten a new release: Station v3 Extension, marking the initial phase of the Station v3 rollout.Station v3 is now available for download in the Chrome Web and Microsoft Edge stores, according to the statement. The v3 dashboard and mobile apps are expected to be released in the following weeks.Despite these developments, the Terra (LUNA) price remains subdued, continuing the declines that began in early December 2023. LUNA was up 0.67% in the last 24 hours to $0.66 at the time of writing.
🚀🚀🚀 #SEC Whistleblower Reveals Chai Payments App in Terra Ecosystem Didn’t Use Crypto 🚀🚀🚀
Four cryptocurrency tokens offered by Do Kwon and Terraform Labs, the company he co-founded, have been deemed unregistered securities in a recent summary judgment ruling by Judge Jed Rakoff of the U.S. Court for the Southern District of New York. The tokens in question include #TerraUSD (UST), $LUNA , wLUNA, and Mirror Protocol (MIR). Notably, the ruling dismissed the notion that Terra’s Mirror Protocol “mAssets” constituted security-based swaps.
The judgment highlighted a crucial revelation regarding the Chai payments platform, which Kwon often promoted as a real-world use case of the Terra #blockchain . The SEC presented evidence indicating that the Chai platform did not operate on the Terra blockchain as claimed. Payments were allegedly settled using traditional methods and then mirrored on the Terra blockchain through a server under Kwon’s control, according to an email from a Chai employee in May 2020.
Moreover, a whistleblower, identified as Chai’s Chief Product Officer, disclosed that a former Terraform employee who joined Chai revealed that “there’s no crypto going on within Chai.” The whistleblower claims to have confronted Kwon about Chai’s true nature in September 2021, with Kwon allegedly showing indifference.
Despite compelling evidence, Judge Rakoff acknowledged disputes of material fact, particularly concerning the credibility of whistleblowers. The defense argues that one whistleblower attempted to extort Kwon and Terra co-founder Daniel Shin after being terminated from Chai. Inconsistencies in the whistleblower’s account, including the source of information about Chai’s systems, also contribute to the disputes.
Terraform CTO Chris Amani contradicts claims, stating Chai used the blockchain. The court ruled Kwon and Terraform violated U.S. law for unregistered digital currencies. Summary judgment on SEC fraud claims denied, trial scheduled for January 29, 2024.
Source - Ruholamin Haqshanas @ruholamin-haqshanas
Website - Cryptonews
Four cryptocurrency tokens offered by Do Kwon and Terraform Labs, the company he co-founded, have been deemed unregistered securities in a recent summary judgment ruling by Judge Jed Rakoff of the U.S. Court for the Southern District of New York. The tokens in question include #TerraUSD (UST), $LUNA , wLUNA, and Mirror Protocol (MIR). Notably, the ruling dismissed the notion that Terra’s Mirror Protocol “mAssets” constituted security-based swaps.
The judgment highlighted a crucial revelation regarding the Chai payments platform, which Kwon often promoted as a real-world use case of the Terra #blockchain . The SEC presented evidence indicating that the Chai platform did not operate on the Terra blockchain as claimed. Payments were allegedly settled using traditional methods and then mirrored on the Terra blockchain through a server under Kwon’s control, according to an email from a Chai employee in May 2020.
Moreover, a whistleblower, identified as Chai’s Chief Product Officer, disclosed that a former Terraform employee who joined Chai revealed that “there’s no crypto going on within Chai.” The whistleblower claims to have confronted Kwon about Chai’s true nature in September 2021, with Kwon allegedly showing indifference.
Despite compelling evidence, Judge Rakoff acknowledged disputes of material fact, particularly concerning the credibility of whistleblowers. The defense argues that one whistleblower attempted to extort Kwon and Terra co-founder Daniel Shin after being terminated from Chai. Inconsistencies in the whistleblower’s account, including the source of information about Chai’s systems, also contribute to the disputes.
Terraform CTO Chris Amani contradicts claims, stating Chai used the blockchain. The court ruled Kwon and Terraform violated U.S. law for unregistered digital currencies. Summary judgment on SEC fraud claims denied, trial scheduled for January 29, 2024.
Source - Ruholamin Haqshanas @ruholamin-haqshanas
Website - Cryptonews
💰 Crypto Joke Time! 💰
Why did the blockchain developer break up with their significant other? 🤔
Because they needed space(blocks) in the relationship! 😂
#Cryptohumor #BlockchainLaughs #blockchain #jokeoftheday
Why did the blockchain developer break up with their significant other? 🤔
Because they needed space(blocks) in the relationship! 😂
#Cryptohumor #BlockchainLaughs #blockchain #jokeoftheday
👉👉👉 9 out of 10 multichain devs work on an #EVM chain: Electric Capital
According to a developer report from Electric Capital, Ethereum Virtual Machine-based (EVM) #blockchain networks remain the top choice for crypto developers, with almost 90% of multichain developers working on at least one EVM-compatible chain. The report, which examined crypto development activity over the last year, highlighted that EVM-compatible chains, such as Starknet, Polygon ($MATIC ), Optimism ($OP ), and Arbitrum ($ARB ), attracted 87% of multichain developers. Binance's BNB Chain and Polygon saw the most "cross-pollination" from Ethereum's multichain developers, with 37% and 35% deploying code on #BNB🔥 and Polygon, respectively.
The report also noted a consistent growth in experienced developers, those working in crypto for more than a year, despite a decline in the total number of monthly active developers across the entire crypto ecosystem. Ethereum led in attracting new developers, with over 16,700 newcomers shipping code on the platform in 2023, nearly triple the number on Polygon and almost four times that of Solana. In contrast, Bitcoin witnessed a 19% year-over-year decline in development activity, with just over 1,000 monthly active developers. However, layer-2 networks and scaling solutions on Bitcoin captured over 40% of all open-source Bitcoin developers, marking a more than 400% increase from January 2016.
Source - cointelegraph.com
#CryptoNews #BinanceSquare
According to a developer report from Electric Capital, Ethereum Virtual Machine-based (EVM) #blockchain networks remain the top choice for crypto developers, with almost 90% of multichain developers working on at least one EVM-compatible chain. The report, which examined crypto development activity over the last year, highlighted that EVM-compatible chains, such as Starknet, Polygon ($MATIC ), Optimism ($OP ), and Arbitrum ($ARB ), attracted 87% of multichain developers. Binance's BNB Chain and Polygon saw the most "cross-pollination" from Ethereum's multichain developers, with 37% and 35% deploying code on #BNB🔥 and Polygon, respectively.
The report also noted a consistent growth in experienced developers, those working in crypto for more than a year, despite a decline in the total number of monthly active developers across the entire crypto ecosystem. Ethereum led in attracting new developers, with over 16,700 newcomers shipping code on the platform in 2023, nearly triple the number on Polygon and almost four times that of Solana. In contrast, Bitcoin witnessed a 19% year-over-year decline in development activity, with just over 1,000 monthly active developers. However, layer-2 networks and scaling solutions on Bitcoin captured over 40% of all open-source Bitcoin developers, marking a more than 400% increase from January 2016.
Source - cointelegraph.com
#CryptoNews #BinanceSquare
Blochchain Technology 👉
Blockchain technology is a decentralized and distributed ledger system that records transactions across a network of computers in a secure and transparent manner. It consists of a chain of blocks, where each block contains a list of transactions. These blocks are linked together using cryptographic hashes, forming a chronological and unchangeable chain.Key features of blockchain technology include:Decentralization: No single entity has control over the entire blockchain, making it resistant to censorship and tampering.Transparency: The entire transaction history is visible to all participants in the network, enhancing transparency and trust.Immutability: Once a block is added to the chain, it is nearly impossible to alter previous blocks, ensuring the integrity of the entire transaction history.Security: Cryptographic techniques secure transactions, making it challenging for malicious actors to manipulate the data.Blockchain is the underlying technology for cryptocurrencies, but its applications extend beyond finance. It's being explored for various uses such as supply chain management, smart contracts, and decentralized applications (DApps).#blockchain #Web3CreativeHub #TechnicalStudy
Blockchain technology is a decentralized and distributed ledger system that records transactions across a network of computers in a secure and transparent manner. It consists of a chain of blocks, where each block contains a list of transactions. These blocks are linked together using cryptographic hashes, forming a chronological and unchangeable chain.Key features of blockchain technology include:Decentralization: No single entity has control over the entire blockchain, making it resistant to censorship and tampering.Transparency: The entire transaction history is visible to all participants in the network, enhancing transparency and trust.Immutability: Once a block is added to the chain, it is nearly impossible to alter previous blocks, ensuring the integrity of the entire transaction history.Security: Cryptographic techniques secure transactions, making it challenging for malicious actors to manipulate the data.Blockchain is the underlying technology for cryptocurrencies, but its applications extend beyond finance. It's being explored for various uses such as supply chain management, smart contracts, and decentralized applications (DApps).#blockchain #Web3CreativeHub #TechnicalStudy
#Litecoin ($LTC ) Teases Monumental Upgrade, Key Implications for Price
Litecoin (LTC) is preparing for a major ecosystem upgrade with Litecoin Core v0.21.3. This update will introduce Partially Signed Bitcoin Transactions (PSBTs) among its new features. PSBTs, commonly used by hardware wallets, streamline transaction processes by standardizing transaction management.
This technology has been adapted to accommodate MimbleWimble Extension Block (MWEB) transaction components. To facilitate this transition, LTCSuite libraries have been developed, allowing clients to obtain and authenticate MWEB data from peers. This verification process involves retrieving MWEBUTXOs, HogExAndMWEBHeaders, and MWEBLeafset from peers running v0.21.3, followed by rigorous data validation to ensure accuracy. Subsequently, transactions can be generated to facilitate money transfers.
Testing and code review for MWEB support are underway to strengthen Litecoin's value and enhance its security and privacy features. However, the exact impact on LTC's price remains uncertain, as the community has not shown significant enthusiasm to trigger a noticeable increase.
In the past 24 hours, LTC has seen a slight decline of approximately 1.71%, trading at $88.81 at the time of writing. This deviation from the price surge seen in Bitcoin ($BTC ) and other major assets is noteworthy.
Various #blockchain networks, including Terra Luna Classic ($LUNC ) and TRON, are planning upgrades to enhance user adoption. Terra Luna Classic developers are working on essential chain upgrades that could boost utility and potentially increase prices of ecosystem tokens like LUNC and USTC.
Justin Sun, TRON Blockchain's founder, hinted at a forthcoming upgrade, with Tron Core Devs planning the release of GreatVoyage-v4.7.4(Bias) version this month. These upgrades coincide with Bitcoin's rally, surpassing $67,000, suggesting positive developments across blockchains amid the ongoing bull run.
Source - coingape.com
#CryptoNews🔒📰🚫 #BinanceSquareTalks #cryptocurrency
Litecoin (LTC) is preparing for a major ecosystem upgrade with Litecoin Core v0.21.3. This update will introduce Partially Signed Bitcoin Transactions (PSBTs) among its new features. PSBTs, commonly used by hardware wallets, streamline transaction processes by standardizing transaction management.
This technology has been adapted to accommodate MimbleWimble Extension Block (MWEB) transaction components. To facilitate this transition, LTCSuite libraries have been developed, allowing clients to obtain and authenticate MWEB data from peers. This verification process involves retrieving MWEBUTXOs, HogExAndMWEBHeaders, and MWEBLeafset from peers running v0.21.3, followed by rigorous data validation to ensure accuracy. Subsequently, transactions can be generated to facilitate money transfers.
Testing and code review for MWEB support are underway to strengthen Litecoin's value and enhance its security and privacy features. However, the exact impact on LTC's price remains uncertain, as the community has not shown significant enthusiasm to trigger a noticeable increase.
In the past 24 hours, LTC has seen a slight decline of approximately 1.71%, trading at $88.81 at the time of writing. This deviation from the price surge seen in Bitcoin ($BTC ) and other major assets is noteworthy.
Various #blockchain networks, including Terra Luna Classic ($LUNC ) and TRON, are planning upgrades to enhance user adoption. Terra Luna Classic developers are working on essential chain upgrades that could boost utility and potentially increase prices of ecosystem tokens like LUNC and USTC.
Justin Sun, TRON Blockchain's founder, hinted at a forthcoming upgrade, with Tron Core Devs planning the release of GreatVoyage-v4.7.4(Bias) version this month. These upgrades coincide with Bitcoin's rally, surpassing $67,000, suggesting positive developments across blockchains amid the ongoing bull run.
Source - coingape.com
#CryptoNews🔒📰🚫 #BinanceSquareTalks #cryptocurrency
Epic Games Store has changed its policy on blockchain games. This comes after some blockchain games with ‘Adults Only’ ratings were taken off the store for using Blockchain and NFTs.
#nft #blockchain #EpicGames
#nft #blockchain #EpicGames
A Primer on Layer 2 Scaling Solutions
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Layer 1: Overview of Blockchain Diversity
There are over 1,000 active blockchains, each with unique strengths and weaknesses.
Ethereum and Solana are highlighted as Layer 1 blockchains with distinct features.
Layer 2: Introduction to Layer 2 Protocols
Layer 2 protocols aim to enhance decentralized networks' efficiency without compromising security or decentralization.
Examples of Layer 2 tokens like MATIC, IMX, ARB, OP, and LRC are mentioned.
Layer 3: Types of Layer 2 Scaling Solutions
Layer 2 encompasses various solutions such as sidechains (e.g., Polygon), parachains (e.g., Polkadot), ZK-rollups (e.g., Matter Labs, Starkware), and optimistic rollups (e.g., Arbitrum, Optimism).
Layer 4: Significance of Layer 2 Solutions
Layer 2 inherits security from the underlying main chain, offering higher transaction speeds and lower fees.
Specific applications can be optimized through Layer 2 solutions, improving user experiences.
Layer 5: Considerations and Other Layer 2s
Potential drawbacks include liquidity shifts and inheriting vulnerabilities from Layer 1 networks.
The article briefly mentions the Bitcoin Lightning Network as a Layer 2 solution for Bitcoin.
#sol #blockchain #Ethereum #newsTrading
.
.
.
Layer 1: Overview of Blockchain Diversity
There are over 1,000 active blockchains, each with unique strengths and weaknesses.
Ethereum and Solana are highlighted as Layer 1 blockchains with distinct features.
Layer 2: Introduction to Layer 2 Protocols
Layer 2 protocols aim to enhance decentralized networks' efficiency without compromising security or decentralization.
Examples of Layer 2 tokens like MATIC, IMX, ARB, OP, and LRC are mentioned.
Layer 3: Types of Layer 2 Scaling Solutions
Layer 2 encompasses various solutions such as sidechains (e.g., Polygon), parachains (e.g., Polkadot), ZK-rollups (e.g., Matter Labs, Starkware), and optimistic rollups (e.g., Arbitrum, Optimism).
Layer 4: Significance of Layer 2 Solutions
Layer 2 inherits security from the underlying main chain, offering higher transaction speeds and lower fees.
Specific applications can be optimized through Layer 2 solutions, improving user experiences.
Layer 5: Considerations and Other Layer 2s
Potential drawbacks include liquidity shifts and inheriting vulnerabilities from Layer 1 networks.
The article briefly mentions the Bitcoin Lightning Network as a Layer 2 solution for Bitcoin.
#sol #blockchain #Ethereum #newsTrading
Manta Network's Layer-2 blockchain will apply Celestia's data availability mechanism to optimize transaction fees for users.
#MANTA #blockchain #celestia
#MANTA #blockchain #celestia
Why Every Binance User Should Consider Owning a Binance Account Bound Token (BABT) Before 2024!!
In the evolving world of #blockchain , identity credentials are taking center stage. Binance Account Bound Token (#BABtoken ) is at the forefront of this movement, offering verified Binance users a unique identity #token within the BNB Chain ecosystem. While owning a #BABtoken may not be mandatory for every user, understanding its potential benefits can help you decide if it's the right fit for you.What is a BAB?BAB is a non-transferable, non-monetary Soulbound Token (SBT) issued by Binance to users who have completed Know Your Customer (KYC) verification. Imagine it as a digital badge proving your verified identity on the platform.Why Own a BAB?Here are some compelling reasons to consider owning a BAB:1. Enhance Your Trustworthiness: In a decentralized world, reputation is key. A BAB serves as a visible indicator of your verified status, potentially granting you access to exclusive communities, events, or airdrops reserved for verified users. 2. Unlock New Opportunities: Certain projects on the BNB Chain may leverage BAB as a requirement for participation or eligibility for rewards. With a BAB, you open doors to potentially lucrative opportunities within the decentralized finance (DeFi) space.3. Foster Collaboration and Trust: BAB can simplify collaborations within the BNB Chain ecosystem. Knowing someone is verified through their BAB can make it easier to trust partnerships and transactions, promoting a more secure and reliable environment.4. Build Your Decentralized Reputation: As the DeFi space continues to evolve, BABs can potentially become part of a broader decentralized identity (DID) network. Your verified status could translate across platforms, further enhancing your trust and reputation.5. Early Access to Emerging Technologies: Binance is actively exploring the potential of SBTs. Owning a BAB early on allows you to contribute to this development and potentially gain access to beta versions of new features or applications utilizing SBTs.Potential Future Benefits:While still in its early stages, BABs have the potential to offer even more benefits in the future, such as:a. Access to credit or borrowing platforms based on your verified identity and transaction history.b. Participation in on-chain governance and voting for relevant projects within the BNB Chain ecosystem.c. Integration with loyalty programs or reward systems offered by DeFi applications and protocols.Considerations Before Minting:While BABs offer exciting possibilities, it's important to consider some factors before minting:Limited Use Cases: Currently, the utility of BABs is limited to specific projects and opportunities within the BNB Chain.Evolving Technology: SBTs are a new technology, and their long-term impact and use cases are still being explored.Privacy Concerns: While BABs provide verification, they also link your activity to your identity. Ensure you're comfortable with this level of visibility before minting.In conclusion owning a BABT is not essential for every Binance user, also know that it comes at a cost of 1 #USDT. .However, for those who want to actively participate in the BNB Chain ecosystem, build their decentralized reputation, and contribute to the development of SBT technology, BABs offer a promising step forward. Carefully consider the potential benefits and weigh them against your individual needs and risk tolerance before making your decision. As the DeFi landscape continues to evolve, BABs have the potential to become a valuable tool for verified users, unlocking new opportunities and fostering trust within the #blockchain world.$BNB $MEME
🚀🚀🚀 #ElonMusk Weighs in on #NFT Technology — Here’s What He Thinks 🚀🚀🚀
Elon Musk commented on the structure of non-fungible tokens (NFTs), suggesting that embedding JPEG images into a blockchain establishes exclusive ownership. Responding to a question about NFTs, Musk playfully acknowledged concerns about NFTs being akin to "web links leading to data you don’t truly possess."
NFTs, which gained attention during the 2021 bull market, typically use centralized databases to link JPEG images to unique non-fungible token hash IDs. Musk highlighted that investors hold these hash IDs, not the actual media content. Some #blockchain projects, however, directly embed NFT items into the blockchain.
For instance, an NFT enthusiast encoded a video clip of Musk's remarks into an Ordinals Inscription on Bitcoin’s blockchain. Bitcoin Ordinals represent a fusion of NFT data inscription, introducing security and transparency to the NFT ecosystem on the widely recognized Bitcoin blockchain.
A Coinbase report on December 14 indicated a significant shift in NFT activities towards the Bitcoin chain, suggesting growing interest in Bitcoin Ordinals for owning and exchanging digital assets in the NFT landscape.
Source - Jimmy Aki @jimmy-aki
Website - Cryptonews
#CryptoNews🔒📰🚫 #BitcoinUpdate $BTC
Elon Musk commented on the structure of non-fungible tokens (NFTs), suggesting that embedding JPEG images into a blockchain establishes exclusive ownership. Responding to a question about NFTs, Musk playfully acknowledged concerns about NFTs being akin to "web links leading to data you don’t truly possess."
NFTs, which gained attention during the 2021 bull market, typically use centralized databases to link JPEG images to unique non-fungible token hash IDs. Musk highlighted that investors hold these hash IDs, not the actual media content. Some #blockchain projects, however, directly embed NFT items into the blockchain.
For instance, an NFT enthusiast encoded a video clip of Musk's remarks into an Ordinals Inscription on Bitcoin’s blockchain. Bitcoin Ordinals represent a fusion of NFT data inscription, introducing security and transparency to the NFT ecosystem on the widely recognized Bitcoin blockchain.
A Coinbase report on December 14 indicated a significant shift in NFT activities towards the Bitcoin chain, suggesting growing interest in Bitcoin Ordinals for owning and exchanging digital assets in the NFT landscape.
Source - Jimmy Aki @jimmy-aki
Website - Cryptonews
#CryptoNews🔒📰🚫 #BitcoinUpdate $BTC
Democracy Goes Digital: Can Blockchain Secure the Vote in 2024's Super Election Year?
With over 64 countries, including giants like India and the US, holding elections in 2024, the world is preparing for a democratic super year. Amidst rising concerns over election integrity, a new whisper emerges: can blockchain revolutionize the way we vote?
Blockchain, the technology behind cryptocurrencies, offers a secure and transparent voting system. Votes cast are recorded on a tamper-proof ledger, reducing fraud and boosting trust. Pilot programs have shown promise, but challenges like scalability and digital inclusivity remain.
Despite hurdles, the urgency is clear. 2024 could be a turning point for digital democracy. With careful implementation and public education, blockchain may just become the missing piece in rebuilding trust and securing our votes. The future of democracy might just be a click away.
This Blog retains the crucial elements: the scale of 2024 elections, the potential of blockchain for secure voting, and the need for careful implementation.
#crypto2024 #blockchain
With over 64 countries, including giants like India and the US, holding elections in 2024, the world is preparing for a democratic super year. Amidst rising concerns over election integrity, a new whisper emerges: can blockchain revolutionize the way we vote?
Blockchain, the technology behind cryptocurrencies, offers a secure and transparent voting system. Votes cast are recorded on a tamper-proof ledger, reducing fraud and boosting trust. Pilot programs have shown promise, but challenges like scalability and digital inclusivity remain.
Despite hurdles, the urgency is clear. 2024 could be a turning point for digital democracy. With careful implementation and public education, blockchain may just become the missing piece in rebuilding trust and securing our votes. The future of democracy might just be a click away.
This Blog retains the crucial elements: the scale of 2024 elections, the potential of blockchain for secure voting, and the need for careful implementation.
#crypto2024 #blockchain
🗓Exactly 15 years ago today, the Bitcoin network was created 💪
Satoshi Nakamoto mined the starting block of the chain, known as the Genesis Block 📊
Happy Birthday #Bitcoin!
#Satoshi_Nakamoto #BTC #blockchain
Satoshi Nakamoto mined the starting block of the chain, known as the Genesis Block 📊
Happy Birthday #Bitcoin!
#Satoshi_Nakamoto #BTC #blockchain
Reported ‘transfer’ of $15B $XRP was part of a failed exploit attempt
#Bitfinex Chief Technology Officer Paolo Ardoino revealed that an attacker attempted a failed exploit using XRP's partial payments feature to target the crypto exchange. On January 14, an apparent transaction of nearly $15 billion worth of XRP from an unknown wallet to Bitfinex was reported by #blockchain tracker Whale Alert. However, the transaction never went through, and it was later acknowledged as a failed "partial payments exploit" attempt by Ardoino.
Whale Alert initially highlighted the transaction, but later deleted the post, citing issues with reading the #ripple node response that led to incorrect posts. Ardoino clarified on social media platform X that Bitfinex had been targeted in a "Partial Payments Exploit." The attacker assumed that the exchange's software was incorrectly configured to process partial payments, trying to exploit this vulnerability. Partial payments exploits typically involve assuming a company has a misconfigured system that only reads the "amount" field of an XRP transaction, which is set to a high value.
Source - cointelegraph.com
#CryptoNews #BinanceSquare
#Bitfinex Chief Technology Officer Paolo Ardoino revealed that an attacker attempted a failed exploit using XRP's partial payments feature to target the crypto exchange. On January 14, an apparent transaction of nearly $15 billion worth of XRP from an unknown wallet to Bitfinex was reported by #blockchain tracker Whale Alert. However, the transaction never went through, and it was later acknowledged as a failed "partial payments exploit" attempt by Ardoino.
Whale Alert initially highlighted the transaction, but later deleted the post, citing issues with reading the #ripple node response that led to incorrect posts. Ardoino clarified on social media platform X that Bitfinex had been targeted in a "Partial Payments Exploit." The attacker assumed that the exchange's software was incorrectly configured to process partial payments, trying to exploit this vulnerability. Partial payments exploits typically involve assuming a company has a misconfigured system that only reads the "amount" field of an XRP transaction, which is set to a high value.
Source - cointelegraph.com
#CryptoNews #BinanceSquare
👉👉👉 Total Value of Crypto Stolen From #DEFI Platforms in 2023 Plummets by 63.7% Year-on-Year: #Chainalysis
#blockchain analysis firm Chainalysis has reported a significant decline in the value of crypto assets stolen by cybercriminals in 2023, attributing the decrease to a substantial drop in hacking incidents targeting decentralized finance (DeFi) platforms.
In a recent report, Chainalysis highlights that hackers pilfered just $1.1 billion from DeFi protocols in 2023, compared to $3.1 billion in 2022 and $2.5 billion in 2021.
The report indicates a 17.2% year-over-year decrease in the number of DeFi hacks, accompanied by a 7.4% drop in the median loss per DeFi hack.
The reduction in the value stolen from DeFi platforms is seen as a positive sign, suggesting that operators are enhancing #smartcontract security. Additionally, the decline in DeFi activities throughout the year contributed to fewer protocols for hackers to target.
Chainalysis emphasizes that the reasons behind the drop in DeFi hacking could be a combination of improved security practices and the overall decrease in DeFi activity. The report cautions that if the decline is primarily due to reduced DeFi activities, it will be crucial to monitor whether DeFi hacking rises again during another DeFi bull market, potentially leading to higher total value locked (TVL) and a larger pool of DeFi funds for hackers to exploit
Source - dailyhodl.com
#CryptoNews
#blockchain analysis firm Chainalysis has reported a significant decline in the value of crypto assets stolen by cybercriminals in 2023, attributing the decrease to a substantial drop in hacking incidents targeting decentralized finance (DeFi) platforms.
In a recent report, Chainalysis highlights that hackers pilfered just $1.1 billion from DeFi protocols in 2023, compared to $3.1 billion in 2022 and $2.5 billion in 2021.
The report indicates a 17.2% year-over-year decrease in the number of DeFi hacks, accompanied by a 7.4% drop in the median loss per DeFi hack.
The reduction in the value stolen from DeFi platforms is seen as a positive sign, suggesting that operators are enhancing #smartcontract security. Additionally, the decline in DeFi activities throughout the year contributed to fewer protocols for hackers to target.
Chainalysis emphasizes that the reasons behind the drop in DeFi hacking could be a combination of improved security practices and the overall decrease in DeFi activity. The report cautions that if the decline is primarily due to reduced DeFi activities, it will be crucial to monitor whether DeFi hacking rises again during another DeFi bull market, potentially leading to higher total value locked (TVL) and a larger pool of DeFi funds for hackers to exploit
Source - dailyhodl.com
#CryptoNews
🔥🔥🔥 #TerraClassic Community Burns 1.1 Billion $LUNC in a Single Week
The Terra Classic ($LUNC ) community recently executed a significant token burn, incinerating more than 1.1 billion tokens valued at over $100,000. This move aimed to reduce the total supply of the #cryptocurrency to 6.81267 trillion as part of ongoing efforts to boost its token price to $0.1.
As reported by cryptocurrency investor AlexCryptoBull on X (formerly Twitter), the community burned 1 billion LUNC tokens within a week, coupled with staking an additional 7.1 billion LUNC. Token burns are a strategy employed by certain crypto communities to decrease a token's circulating supply, potentially fostering price growth by maintaining or increasing demand while reducing overall supply. In this case, the burned tokens were sent to "dead wallets," eliminating them from circulation.
Major industry players, including Binance, have supported the LUNC burn initiative by removing over 1 billion tokens from circulation through celebrated transactions. Terra Classic's tokenomics involve an automatic mechanism that sends tokens to dead addresses with each transaction. The quantity of tokens sent is proportionate to the current circulation, ensuring a continual reduction in the total token supply and theoretically increasing their value due to growing scarcity.
It's essential to note that the original Terra ecosystem experienced a collapse last year and subsequently rebranded to Terra Classic. A new, forked #blockchain retained the Terra brand. Following the ecosystem collapse, the circulating supply surged from 340 million tokens to 6.9 trillion. To counteract inflation, $LUNC supporters implemented a 1.2% tax burn on all network transactions.
The Terra Classic community is actively advocating for increased adoption, even initiating a petition for listing on the Coinbase cryptocurrency exchange. In recent months, LUNC token burns have expanded through various community-led projects, including Terra Casino, Cremation Coin, and DFLunc.
Source - cryptoglobe.com
#CryptoNews #BinanceSquare
The Terra Classic ($LUNC ) community recently executed a significant token burn, incinerating more than 1.1 billion tokens valued at over $100,000. This move aimed to reduce the total supply of the #cryptocurrency to 6.81267 trillion as part of ongoing efforts to boost its token price to $0.1.
As reported by cryptocurrency investor AlexCryptoBull on X (formerly Twitter), the community burned 1 billion LUNC tokens within a week, coupled with staking an additional 7.1 billion LUNC. Token burns are a strategy employed by certain crypto communities to decrease a token's circulating supply, potentially fostering price growth by maintaining or increasing demand while reducing overall supply. In this case, the burned tokens were sent to "dead wallets," eliminating them from circulation.
Major industry players, including Binance, have supported the LUNC burn initiative by removing over 1 billion tokens from circulation through celebrated transactions. Terra Classic's tokenomics involve an automatic mechanism that sends tokens to dead addresses with each transaction. The quantity of tokens sent is proportionate to the current circulation, ensuring a continual reduction in the total token supply and theoretically increasing their value due to growing scarcity.
It's essential to note that the original Terra ecosystem experienced a collapse last year and subsequently rebranded to Terra Classic. A new, forked #blockchain retained the Terra brand. Following the ecosystem collapse, the circulating supply surged from 340 million tokens to 6.9 trillion. To counteract inflation, $LUNC supporters implemented a 1.2% tax burn on all network transactions.
The Terra Classic community is actively advocating for increased adoption, even initiating a petition for listing on the Coinbase cryptocurrency exchange. In recent months, LUNC token burns have expanded through various community-led projects, including Terra Casino, Cremation Coin, and DFLunc.
Source - cryptoglobe.com
#CryptoNews #BinanceSquare
