Binance Square
Home
Notification
Profile
Trending Articles
News
Bookmarked and Liked
Creator Center
Settings
LIVE
LIVE
MarsNext
Bullish
--・3.1k views
#Zilliqa Network Disruption: A Breakdown of the Situation The Zilliqa #Blockchain has been experiencing a critical technical issue since Monday, December 18th, 2023, leading to a significant 50% drop in on-chain transactions. Here's a summary of what we know: The Problem: - A technical glitch has interrupted block production on the Zilliqa mainnet. - This disruption has caused a drastic decline in daily transactions, plummeting from the usual average of 61,000 to roughly 30,906. - No new blocks have been produced since around 11 AM UTC on Monday, essentially halting network activity. The Response: - The Zilliqa Core Team is actively investigating the root cause of the issue & working on a solution. - They have called this their top priority & are committed to resolving the problem as quickly as possible. - Matt Dyer, Zilliqa's CEO, urged the community to remain patient & assured users that funds are safe. - Partners have been advised to temporarily halt any deposits or withdrawals on the network until the issue is resolved. Potential Impact: - This disruption could damage Zilliqa's reputation & user confidence, especially considering the network's recent focus on scalability & reliability. - The sudden halt in transactions could also impact decentralized applications (#dApps ) built on the platform. - The longer the outage lasts, the greater the potential negative consequences could be. Current Status: - As of now, Wednesday, Dec 20th, 2023, at 10:40 AM IST, the network remains down. - The Zilliqa team is still working on recovering the network & hasn't provided a specific timeline for resolution. What to Do: - Stay Informed: Follow official updates from the Zilliqa team on social media or their website. - Avoid Panic: Trust that the team is addressing the issue, & reports suggest funds are secure. - Be Patient: Understand that full network restoration may take some time. - Consider Alternatives: For urgent transactions, explore using alternative blockchain networks temporarily. $ZIL #TechnicalAnalysis #cryptocurrency

#Zilliqa Network Disruption: A Breakdown of the Situation

The Zilliqa #Blockchain has been experiencing a critical technical issue since Monday, December 18th, 2023, leading to a significant 50% drop in on-chain transactions. Here's a summary of what we know:

The Problem:

- A technical glitch has interrupted block production on the Zilliqa mainnet.

- This disruption has caused a drastic decline in daily transactions, plummeting from the usual average of 61,000 to roughly 30,906.

- No new blocks have been produced since around 11 AM UTC on Monday, essentially halting network activity.

The Response:

- The Zilliqa Core Team is actively investigating the root cause of the issue & working on a solution.

- They have called this their top priority & are committed to resolving the problem as quickly as possible.

- Matt Dyer, Zilliqa's CEO, urged the community to remain patient & assured users that funds are safe.

- Partners have been advised to temporarily halt any deposits or withdrawals on the network until the issue is resolved.

Potential Impact:

- This disruption could damage Zilliqa's reputation & user confidence, especially considering the network's recent focus on scalability & reliability.

- The sudden halt in transactions could also impact decentralized applications (#dApps ) built on the platform.

- The longer the outage lasts, the greater the potential negative consequences could be.

Current Status:

- As of now, Wednesday, Dec 20th, 2023, at 10:40 AM IST, the network remains down.

- The Zilliqa team is still working on recovering the network & hasn't provided a specific timeline for resolution.

What to Do:

- Stay Informed: Follow official updates from the Zilliqa team on social media or their website.

- Avoid Panic: Trust that the team is addressing the issue, & reports suggest funds are secure.

- Be Patient: Understand that full network restoration may take some time.

- Consider Alternatives: For urgent transactions, explore using alternative blockchain networks temporarily.

$ZIL #TechnicalAnalysis #cryptocurrency

Disclaimer: Includes thrid-party opinions. No financial advice. May include sponsored content. See T&Cs.
0
Explore the lastest crypto news
⚡️ Be a part of the latests discussions in crypto
💬 Interact with your favorite creators
👍 Enjoy content that interests you
Email / Phone number
Relevant Creator
LIVE
MarsNext
@MarsNext

Explore More From Creator

🔥🔥🔥 #shibaInu ($SHIB ) Enters 'Red Zone' After Price Drops Below Crucial Support Shiba Inu (SHIB) was steadily gaining traction in the market, seemingly poised for an upcoming bounce. However, a rapid change has altered the landscape. The price has fallen below the 50-day Exponential Moving Average (EMA) and shows no signs of recovering. Currently, SHIB's position is precarious due to this sudden decline. Breaking below the 50 EMA, a crucial support level, indicates that sellers are gaining control. The 200 EMA now serves as the next major support, though it is holding on only tentatively. If bearish pressure continues, SHIB might test the 200 EMA and potentially drop further. Selling volume surged as SHIB broke below the 50 EMA, suggesting traders are cutting their losses due to waning confidence. This trend could worsen. The Relative Strength Index (RSI) is hovering just above the oversold area, indicating that SHIB is currently oversold. However, this does not guarantee a rebound. Moving averages, crucial in technical analysis, are not in SHIB's favor. The 20 EMA crossing below the 50 EMA forms a bearish crossover, often signaling further declines. Monitor this pattern closely, as it typically precedes additional downturns. SHIB trading below all major moving averages is a broadly bearish signal. Given the current price movement, SHIB needs a significant uptick to avoid further losses. Ideally, it should quickly regain the 50 EMA to restore market confidence. While the 200 EMA is a potential support level to watch, traders should also prepare for more declines if this level is breached. Source - u.today #CryptoTrends2024 #BinanceSquareTalks #cryptocurrency #CryptoMarket
--
💥💥💥 ‘Bitcoin Fixes This’: #Bitcoiners Take Aim at Berkshire Hathaway Amid Stock Glitch Bitcoin enthusiasts had a laugh at Berkshire Hathaway CEO Warren Buffett on Monday after his company seemingly plummeted 99% in value. At 9:49 am ET, Berkshire’s class A shares (BRK.A) nosedived from $621,000 to just $185, causing the New York Stock Exchange (NYSE) to temporarily halt trading. The dramatic drop was due to a technical glitch at the NYSE, affecting other major companies like the Bank of Montreal (BMO). The issue was resolved within a few hours, and BRK.A ended the day up 0.59%. The massive red candle was ironic for Buffett, a Bitcoin critic who called crypto "rat poison squared" in 2018. Since then, BRK.A is up 114%, while Bitcoin has soared 600%. “Who’s the rat poison now, eh,” tweeted Blockstream CEO Adam Back. Buffett’s late vice-chairman Charlie Munger was equally critical of crypto, calling Bitcoin a “stupid” and “evil” investment likely to “go to zero.” “This is not a crypto rug pull; this is Berkshire Hathaway,” tweeted WallStreetBets. Many joked about Buffett’s temporary net worth wipeout and the brief investment opportunity. “Finally, I have a chance to acquire Warren Buffett,” quipped Tron founder Justin Sun. “If you bought $500 of Berkshire Hathaway 10 minutes ago, it would now be worth over $2 million,” tweeted crypto meme account “greg” after the stock rebounded. “Let that sink in.” Crypto exchange Kraken and whistleblower Edward Snowden highlighted that Bitcoin trading can’t be halted like BRK.A was. “Bitcoin fixes this,” Snowden tweeted. While the Bitcoin network operates 24/7, centralized exchanges have frequently halted Bitcoin trading and withdrawals, sometimes indefinitely. Price glitches also occur, such as a BTC flash crash below $9,000 on #BitMEX two months ago. Buffett didn’t address the sudden Berkshire crash, but meme accounts had a field day, putting words in his mouth reminiscent of previous crypto catastrophes. Source - decrypt.co #CryptoTrends2024 #BinanceSquareTalks
--
👉👉👉 Dapper Labs Reaches $4 Million Settlement in NBA Top Shot #NFT Lawsuit Dapper Labs, the company behind NBA Top Shot and other notable on-chain collectibles, has reached a settlement in a long-running class action lawsuit with dissatisfied customers who claimed Top Shot NFTs were illegally offered securities, as revealed in court filings on Monday. Under the terms of the settlement, Dapper will pay $4 million to the plaintiffs, covering monetary relief and legal fees. In exchange, plaintiffs will waive any future claims regarding Top Shot NFTs being securities. Dapper Labs CEO, Roham Gharegozlou, stated that the settlement brings legal clarity and allows the company to focus on its core mission of delivering exceptional user experiences. Previously, a federal judge ruled that the lawsuit could proceed, noting that Top Shot NFTs potentially met the definition of securities offering, especially given their existence on the Flow #Blockchain , originally developed by Dapper. The judge highlighted Flow's status as a "private" blockchain, contrasting it with decentralized networks like #bitcoin and #Ethereum Additionally, statements implying potential value appreciation contributed to the judge's decision. Although Dapper maintains that Flow is decentralized and not under its control, the settlement includes demands for certain business changes. This involves Dapper relinquishing any FLOW tokens to the Flow Foundation, among other conditions. Notably, demands such as permitting third-party marketplaces to transact Top Shot NFTs and expediting withdrawal processing were already addressed years ago. The lawsuit, filed in 2021 amidst the digital asset boom, posed an early test of NFT security status. While regulatory scrutiny has intensified in the #CryptoMarket , NFTs have generally avoided widespread classification as securities, barring specific cases. Source - decrypt.co
--
💥💥💥 #bitcoin (BTC) to Test $70,000 Again This Week? $XRP Fights for #BullMarket Comeback, Did #Ethereum ($ETH ) Hit Plateau? Bitcoin remains steadfast in the $68,000-$70,000 price range, showing signs of potential momentum for a breakthrough. Currently trading near $69,000, it has rebounded off the 26-day Exponential Moving Average (EMA). However, breaching the significant $69,400 resistance level is crucial for further upward movement, as failure to do so could result in a reversal towards $70,000 and below. As Bitcoin aims to surpass the critical $70,000 mark, the BTC/USD chart reflects a bullish sentiment with recent resilience demonstrated by bouncing off the 26-day EMA. This rebound suggests buyer intervention, providing support above $68,000. Yet, the $69,400 resistance poses a challenge historically difficult to overcome, potentially leading to a reversal if not breached. In the event of a correction, additional support may be found at the 50-day EMA and the 100-day EMA below the current price. With an uptick in trading volume, traders are showing increased interest, but sustained price movement requires continued volume support. XRP's current state is uncertain; while suppressed, it shows signs of potential strength for a rebound. Yet, it remains below the 50-day EMA, a crucial barrier for a bounce contender. Higher trading volume is needed to sustain price movement and signal a successful recovery, with the RSI in a neutral zone offering limited insight. Ethereum is struggling to break out of a narrow trading range between $3,750 and $3,850, showing signs of bullish exhaustion. Despite previous upward momentum, buyers are unable to push prices higher, and trading volume remains stagnant. If Ethereum fails to surpass $3,850, it may continue to consolidate or retreat. While a volume spike could fuel a breakout, current low but steady volume indicates traders are waiting for market cues. Ethereum nears overbought territory, potentially limiting upside without a correction or consolidation. Source - u.today #CryptoTrends2024 #BinanceSquareTalks
--
🔥🔥🔥 #BitcoinETFs make 26% of #BlackRock 's 2024 inflows, 56% of Fidelity’s Despite the impressive flows into BlackRock’s IBIT and Fidelity’s FBTC Bitcoin exchange-traded funds (ETFs), they still trail behind Vanguard, the leading ETF asset manager in total flows. Year-to-date, BlackRock and Fidelity's Bitcoin ETFs have accounted for a significant portion of their total ETF inflows, making up 26% and 56% respectively, according to Bloomberg ETF analyst Eric Balchunas, citing Bloomberg Intelligence data. Since their launch nearly five months ago, BlackRock’s iShares Bitcoin Trust (#IBIT ) and Fidelity's Wise Origin Bitcoin Fund (FBTC) have attracted $16.6 billion and $8.9 billion in inflows, according to Farside Investor data. However, Vanguard, despite not offering any Bitcoin ETFs, leads with $102.8 billion in total ETF inflows so far in 2024, surpassing BlackRock at $65.1 billion. BlackRock currently lists 429 ETFs with a total of $2.8 trillion in assets under management, according to Stock Analysis data. Fidelity, in contrast, only lists 70 ETFs, totaling $74 billion in AUM. Invesco has recorded $34.7 billion in ETF flows this year, with only 0.9% coming from its Bitcoin ETF, which has attracted $317.3 million in total inflows for the first five months of the year. On May 28, BlackRock's IBIT became the world's largest spot Bitcoin ETF, surpassing Grayscale's GBTC. IBIT now holds over 291,567 BTC valued at $20 billion, while GBTC's holdings have decreased to 285,139 BTC, worth about $19.6 billion. Bitcoin ETF flows have somewhat stabilized recently, with several ETF issuers experiencing days of zero inflows and outflows in recent weeks. For instance, the Franklin Bitcoin ETF (EZBC) hasn’t had any inflows or outflows since May 16, according to Farside Investors. Bitcoin investment products, excluding Grayscale, are currently witnessing an average of $141.7 million in inflows each trading day, primarily driven by IBIT, FBTC, and to a lesser extent, the ARK 21Shares Bitcoin ETF (ARKB). Source - cointelegraph.com #CryptoTrends2024 #BinanceSquareTalks
--

Latest News

Pirate Nation Foundation To Launch ERC-20 Token PIRATE On Ethereum Network
--
Lightspark CEO Claims Online Local Money Transfers Could Unlock Significant Global GDP
--
Ultiverse Launches on Whales Market Pre-Market Platform
--
Find Satoshi Lab Announces Strategic Investment In Mythos
--
Bankrupt Hedge Fund's NFTs Set For Auction At Sotheby's
--
View More
Sitemap
Cookie Preferences
Platform T&Cs
Sitemap
Platform T&Cs
ba-one-trust-cookie