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$BTC Jacob Gadikian, CEO of the blockchain services firm Notional Labs, has recently alleged that Terra’s downfall and UST’s dollar depeg were not caused by Do Kwon, the disgraced founder of the project. Gadikian stated that the real culprit behind this fraud, an unidentified attacker, remains at large.
Blockchain Engineer States Terra’s Attacker Remains at Large, Do Kwon Not Liable for $50 Billion Fraud
Jacob Gadikian, founder of the Cosmos blockchain services provider Notional Labs, has referred to the downfall of Terra, the algorithmic stablecoin project, as a product of chain disruption.
On social media, Gadikian stated that, in his view, the failure of the Terra ecosystem was the consequence of an attack by an unidentified third party. This attack aimed to undermine the Terra blockchain, intending to disrupt the $1 UST peg and profit from arbitrage of the token.
He pointed out that, at the time, the set of validators was under attack and that hundreds of millions were being manipulated for no apparent reason. Gadikian also revealed a video demonstrating an attack on the Cosmos hub security testnet, which produced the same effect observed during the alleged attack that caused UST’s depeg.
Other investigators concurred with Gadikian, stating that during the depeg, the chain registered a sixfold increase in transactions, attributed to bots. According to Flipside, a blockchain intelligence company, these bots “impeded Terra from being able to use its signature economic model to restore its UST peg.”
Blockchain Engineer States Terra’s Attacker Remains at Large, Do Kwon Not Liable for $50 Billion Fraud
Jacob Gadikian, founder of the Cosmos blockchain services provider Notional Labs, has referred to the downfall of Terra, the algorithmic stablecoin project, as a product of chain disruption.
On social media, Gadikian stated that, in his view, the failure of the Terra ecosystem was the consequence of an attack by an unidentified third party. This attack aimed to undermine the Terra blockchain, intending to disrupt the $1 UST peg and profit from arbitrage of the token.
He pointed out that, at the time, the set of validators was under attack and that hundreds of millions were being manipulated for no apparent reason. Gadikian also revealed a video demonstrating an attack on the Cosmos hub security testnet, which produced the same effect observed during the alleged attack that caused UST’s depeg.
Other investigators concurred with Gadikian, stating that during the depeg, the chain registered a sixfold increase in transactions, attributed to bots. According to Flipside, a blockchain intelligence company, these bots “impeded Terra from being able to use its signature economic model to restore its UST peg.”
#NFPCryptoImpact What is non-farm payroll?
The NFP is a monthly report that estimates the net number of jobs gained in the US in the previous month, excluding those in farms, private households, and non-profit organizations. It is usually released on the first Friday of the month, in an Employment Situation report that also includes the US unemployment rate, average hourly earnings, and participation rate.
Although its importance has dimmed somewhat in recent years, the NFP is still one of the most significant economic indicators. Pundits from across the financial markets will attempt to predict the headline NFP figure each month, as well as its potential market impact.
Why is NFP important?
The Federal Reserve has the mandate to maintain maximum employment in the US, as well as stable prices. So, they’ll pay close attention to the NFP when setting interest rate policy. If employment looks strong, the Fed may consider raising interest rates. If it is weak, lower rates could be in the cards.
As the US is the world’s largest economy, any actions by the Fed tend to have a significant impact on global financial markets. But first and foremost, they’ll have a big effect on the USD, so forex traders will monitor the NFP closely and rush to amend their strategies based on the data, or attempt to profit from the volatility.
The data is usually released on the first Friday of every month at 8:30 AM ET and reflects the previous month’s data.
The NFP is a monthly report that estimates the net number of jobs gained in the US in the previous month, excluding those in farms, private households, and non-profit organizations. It is usually released on the first Friday of the month, in an Employment Situation report that also includes the US unemployment rate, average hourly earnings, and participation rate.
Although its importance has dimmed somewhat in recent years, the NFP is still one of the most significant economic indicators. Pundits from across the financial markets will attempt to predict the headline NFP figure each month, as well as its potential market impact.
Why is NFP important?
The Federal Reserve has the mandate to maintain maximum employment in the US, as well as stable prices. So, they’ll pay close attention to the NFP when setting interest rate policy. If employment looks strong, the Fed may consider raising interest rates. If it is weak, lower rates could be in the cards.
As the US is the world’s largest economy, any actions by the Fed tend to have a significant impact on global financial markets. But first and foremost, they’ll have a big effect on the USD, so forex traders will monitor the NFP closely and rush to amend their strategies based on the data, or attempt to profit from the volatility.
The data is usually released on the first Friday of every month at 8:30 AM ET and reflects the previous month’s data.
#OnChainLendingSurge The historical borrowing volume reflects the varying nature of leverage within the DeFi market, with periods of increased borrowing corresponding with bullish market sentiment, and vice versa
The initial growth phase coincided with the launch of the COMP liquidity mining campaign in June 2020.
The correlation underscores the impact that token incentive programs can have on market adoption and growth. However, the chart also highlights the sustainability challenges of such programs, as evidenced by the subsequent contraction from the peak in 2021.
Outstanding borrows peaked at $23 billion in December 2021, and bottomed at $3.6 billion in January 2023. The subsequent recovery to $8.3 billion illustrates the market's resilience and potential for future growth.
The integration of real-world assets (RWAs) as collateral, in addition to crypto-native assets, represents a significant opportunity for market expansion.
The initial growth phase coincided with the launch of the COMP liquidity mining campaign in June 2020.
The correlation underscores the impact that token incentive programs can have on market adoption and growth. However, the chart also highlights the sustainability challenges of such programs, as evidenced by the subsequent contraction from the peak in 2021.
Outstanding borrows peaked at $23 billion in December 2021, and bottomed at $3.6 billion in January 2023. The subsequent recovery to $8.3 billion illustrates the market's resilience and potential for future growth.
The integration of real-world assets (RWAs) as collateral, in addition to crypto-native assets, represents a significant opportunity for market expansion.
#CryptoMarketDip Dip means to put or let something down quickly or briefly into liquid in the traditional sense. However, in the world of cryptocurrencies, a dip is the process of buying an asset after it has declined in value. Buying a dip implies that you have an opportunity to invest in a coin or token that has experienced a short, or potentially long-term decline in its value.
Many cryptocurrency investors only became familiar with the crypto market after the downturn of the cryptocurrency market all the way back in 2018. In fact, it was throughout this year that plenty of investors managed to learn how risky and speculative the crypto market can actually be. But buying a coin or a token in a downtrend does not actually mean that its price is guaranteed to increase over time, as there are risks involved with just about anything you do in terms of investing.
You need to have strong emotional intelligence and understand the nature of the market you are engaging in.
You have a phrase in regards to dips and investing: "buy the dip." This refers to going long on an asset or security after the price has experienced a short-term decline in repeated ways. Through buying this dip, you can profit through its long-term uptrends, however, it is unprofitable or tougher during secular downtrends.
Many cryptocurrency investors only became familiar with the crypto market after the downturn of the cryptocurrency market all the way back in 2018. In fact, it was throughout this year that plenty of investors managed to learn how risky and speculative the crypto market can actually be. But buying a coin or a token in a downtrend does not actually mean that its price is guaranteed to increase over time, as there are risks involved with just about anything you do in terms of investing.
You need to have strong emotional intelligence and understand the nature of the market you are engaging in.
You have a phrase in regards to dips and investing: "buy the dip." This refers to going long on an asset or security after the price has experienced a short-term decline in repeated ways. Through buying this dip, you can profit through its long-term uptrends, however, it is unprofitable or tougher during secular downtrends.
#BinanceMegadropSolv Binance has announced Solv Protocol (SOLV) as the third project on its Binance Megadrop platform. Solv Protocol, a Bitcoin staking protocol focused on building a Bitcoin-centric financial ecosystem, offers users the opportunity to participate in the SOLV Megadrop starting from January 7, 2025, at 00:00 UTC. The Megadrop page is expected to be available on the Binance App approximately 12 hours before the event begins.
Following the Megadrop period, Binance will list Solv Protocol (SOLV) on January 17, 2025, at 10:00 UTC, introducing trading pairs including SOLV/USDT, SOLV/BNB, SOLV/FDUSD, and SOLV/TRY. The seed tag will be applied to SOLV at launch.
Key Dates and Participation Periods
SOLV Megadrop Period: January 7, 2025, 00:00 UTC – January 16, 2025, 23:59 UTC
BNB Locked Products Snapshot Period: Participants can begin locking BNB prior to January 7, 2025, to maximize their Locked BNB Scores, with hourly snapshots of BNB subscriptions taken throughout the period. Further details are available in the FAQ.
Web3 Quest Period: Users can complete designated Web3 Quests to boost their score.
Following the Megadrop period, Binance will list Solv Protocol (SOLV) on January 17, 2025, at 10:00 UTC, introducing trading pairs including SOLV/USDT, SOLV/BNB, SOLV/FDUSD, and SOLV/TRY. The seed tag will be applied to SOLV at launch.
Key Dates and Participation Periods
SOLV Megadrop Period: January 7, 2025, 00:00 UTC – January 16, 2025, 23:59 UTC
BNB Locked Products Snapshot Period: Participants can begin locking BNB prior to January 7, 2025, to maximize their Locked BNB Scores, with hourly snapshots of BNB subscriptions taken throughout the period. Further details are available in the FAQ.
Web3 Quest Period: Users can complete designated Web3 Quests to boost their score.
#BitcoinHashRateSurge What Is Hash Rate?
Hash rate is the measure of the computational power of a proof-of-work (PoW) cryptocurrency network, group, or individual. It is used to determine the mining difficulty of a blockchain network, gauge security, estimate network energy use, and determine network participation. It is also used to adjust these blockchains' puzzle-solving difficulty.
A hash is a hexadecimal number that is randomly generated, and hashing is the process of guessing that code (or as close to it as possible). Each guess submitted by computers on the network is measured, and the hash rate is how many guesses per second are occurring on a single miner, a pool, or across an entire network.
Hash rate is the measure of the computational power of a proof-of-work (PoW) cryptocurrency network, group, or individual. It is used to determine the mining difficulty of a blockchain network, gauge security, estimate network energy use, and determine network participation. It is also used to adjust these blockchains' puzzle-solving difficulty.
A hash is a hexadecimal number that is randomly generated, and hashing is the process of guessing that code (or as close to it as possible). Each guess submitted by computers on the network is measured, and the hash rate is how many guesses per second are occurring on a single miner, a pool, or across an entire network.
#CryptoReboundStrategy
If you’re looking for a crypto trading strategy that doesn’t involve indicators, then dollar cost averaging (DCA) might interest you. DCA is a popular strategy for both beginner traders and experts alike.
Instead of investing all your money into a specific asset at once, you divide your investments into smaller amounts. These amounts are then spread out over a predetermined timeline and are regularly invested on a particular time and day of the week – and only on that day and time.
What does this look like in execution? Let’s say you decide you’d like to invest in bitcoin. You’ve set aside CHF 15,000 for this purpose, and decide a DCA strategy will be the best way forward. So, you’d then divide your initial amount by the number of weeks you’d like the strategy to run for.
For the purpose of this example, we’ll say that you’d like to invest your CHF 15,000 over six months. You’d then divide the initial amount by 24 (the number of weeks in six months), giving you CHF 625 per week. For the next six months, every Tuesday at 2pm you invest your CHF 625 into bitcoin – until your initial amount is depleted.
Why invest like this? Buying an asset in regular intervals helps alleviate the impact of market volatility, meaning you’ll typically receive more of the currency from your final investment than if you’d invested all your money at once.
It’s important to note, to fully make use of this strategy you’d need to trade the specific coin through an exchange – and not through a broker like us.
If you’re looking for a crypto trading strategy that doesn’t involve indicators, then dollar cost averaging (DCA) might interest you. DCA is a popular strategy for both beginner traders and experts alike.
Instead of investing all your money into a specific asset at once, you divide your investments into smaller amounts. These amounts are then spread out over a predetermined timeline and are regularly invested on a particular time and day of the week – and only on that day and time.
What does this look like in execution? Let’s say you decide you’d like to invest in bitcoin. You’ve set aside CHF 15,000 for this purpose, and decide a DCA strategy will be the best way forward. So, you’d then divide your initial amount by the number of weeks you’d like the strategy to run for.
For the purpose of this example, we’ll say that you’d like to invest your CHF 15,000 over six months. You’d then divide the initial amount by 24 (the number of weeks in six months), giving you CHF 625 per week. For the next six months, every Tuesday at 2pm you invest your CHF 625 into bitcoin – until your initial amount is depleted.
Why invest like this? Buying an asset in regular intervals helps alleviate the impact of market volatility, meaning you’ll typically receive more of the currency from your final investment than if you’d invested all your money at once.
It’s important to note, to fully make use of this strategy you’d need to trade the specific coin through an exchange – and not through a broker like us.
$PHA My stop stop loss was at 0.30$ and today this coin fall to my ST unfortunately I lost hundreds of my Dollars 🥺
$BTC 94,280
Binance Square Official
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Predict BTC Price & Win up to $300 USDC!
With the new year approaching, where do you think Bitcoin will go next?
Drop your prediction for this week's $BTC closing price in the comments of this post 👇
🎁The top 3 closest predictions will win 300 USDC, 150 USDC, and 50 USDC. Jump in and share your prediction now!
*Campaign Period: 2024-12-30 07:00 to 2025-01-05 20:00 (UTC)
‼️Ensure you have updated your app to at least version 2.92. Also, make sure the "Also Repost" box is checked when replying to be eligible for entry.
Terms and Conditions:
This campaign may not be available in your region. Eligible users must be logged in to their verified Binance accounts whilst completing tasks during the campaign period eriod. Ensure the "Also Repost" box is checked when replying, or your comment won't count as a valid entry.To ensure fairness, entries closed at 2025-01-05 20:00 UTC. The campaign's outcome will be based on the BTCUSDT price at 2025-01-05 23:59:59 UTC.If users made multiple comments, only the first comment will be considered as an eligible entry. Deleted comments are not eligible for rewards.In case of identical predictions, the earliest comment will be prioritized.Winners will be announced in the comments section of this post within 7 working days after the campaign ends and notified via a push notification under Creator Center > Square Assistant. Rewards will be distributed in the form of token vouchers to eligible users within 14 working days after the Activity ends. Users will be able to log in and redeem their voucher rewards via Profile > Rewards Hub. Illegally bulk registered accounts or sub-accounts shall not be eligible to participate or receive any rewards. Binance reserves the right to disqualify any account acting against the Binance Square Community Guidelines or Terms and Conditions.Binance reserves the right at any time in its sole and absolute discretion to determine and/or amend or vary these terms and conditions without prior notice, including but not limited to canceling, extending, terminating or suspending this activity, the eligibility terms and criteria, the selection and number of winners, and the timing of any act to be done, and all participants shall be bound by these amendments.Binance reserves the right of final interpretation of this activity.Where any discrepancy arises between the translated versions of this post and the original English version, the English version of this post shall prevail.Additional promotion terms and conditions can be accessed here.
Drop your prediction for this week's $BTC closing price in the comments of this post 👇
🎁The top 3 closest predictions will win 300 USDC, 150 USDC, and 50 USDC. Jump in and share your prediction now!
*Campaign Period: 2024-12-30 07:00 to 2025-01-05 20:00 (UTC)
‼️Ensure you have updated your app to at least version 2.92. Also, make sure the "Also Repost" box is checked when replying to be eligible for entry.
Terms and Conditions:
This campaign may not be available in your region. Eligible users must be logged in to their verified Binance accounts whilst completing tasks during the campaign period eriod. Ensure the "Also Repost" box is checked when replying, or your comment won't count as a valid entry.To ensure fairness, entries closed at 2025-01-05 20:00 UTC. The campaign's outcome will be based on the BTCUSDT price at 2025-01-05 23:59:59 UTC.If users made multiple comments, only the first comment will be considered as an eligible entry. Deleted comments are not eligible for rewards.In case of identical predictions, the earliest comment will be prioritized.Winners will be announced in the comments section of this post within 7 working days after the campaign ends and notified via a push notification under Creator Center > Square Assistant. Rewards will be distributed in the form of token vouchers to eligible users within 14 working days after the Activity ends. Users will be able to log in and redeem their voucher rewards via Profile > Rewards Hub. Illegally bulk registered accounts or sub-accounts shall not be eligible to participate or receive any rewards. Binance reserves the right to disqualify any account acting against the Binance Square Community Guidelines or Terms and Conditions.Binance reserves the right at any time in its sole and absolute discretion to determine and/or amend or vary these terms and conditions without prior notice, including but not limited to canceling, extending, terminating or suspending this activity, the eligibility terms and criteria, the selection and number of winners, and the timing of any act to be done, and all participants shall be bound by these amendments.Binance reserves the right of final interpretation of this activity.Where any discrepancy arises between the translated versions of this post and the original English version, the English version of this post shall prevail.Additional promotion terms and conditions can be accessed here.
Buy this will recover very soon
$PHA Do you recommend me to buy it or not?