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SubQuery has launched the first decentralized RPCs (Remote Procedure Calls) for the Polkadot and Kusama networks. This development is significant because decentralized RPCs can improve the security, reliability, and decentralization of the networks they support. Here's a summary of the key points and potential impacts on the crypto market:
Key Points: 1.Decentralized RPCs: SubQuery's initiative introduces decentralized RPC endpoints for Polkadot and Kusama, which are critical for interacting with blockchain data.
2.Enhanced Security and Reliability: Decentralized RPCs can reduce the risk of centralized failures or attacks, making the networks more secure and reliable.
3.Better Performance: This move is expected to enhance the performance of applications on these networks by providing more resilient and distributed access points.
Potential Impacts:
1.Increased Adoption: Enhanced security and reliability could attract more developers and projects to Polkadot and Kusama, boosting overall adoption.
2.Market Confidence: As the infrastructure becomes more robust, investor confidence in these ecosystems might grow, potentially positively impacting the prices of associated tokens.
3.Competitive Advantage: Polkadot and Kusama might gain a competitive edge over other blockchain networks that rely on more centralized RPC solutions, fostering a healthier and more innovative ecosystem.
Overall, this development by SubQuery is poised to strengthen the infrastructure of Polkadot and Kusama, potentially leading to increased usage and investment in these networks
The merger of the tokens for Fetch.ai (FET), SingularityNET (AGIX), and Ocean Protocol (OCEAN) has been delayed to July 15, 2024. This merger is part of a broader strategy to create a unified ecosystem aimed at enhancing the interoperability and functionality of these platforms. Key Points: Merger Delay: Originally planned for an earlier date, the merger has been postponed to July 15 to ensure all technical and regulatory aspects are fully addressed. Purpose: The merger aims to leverage the strengths of each platform to create a more robust and scalable infrastructure. Fetch.ai focuses on autonomous agents for decentralized machine learning, SingularityNET is a decentralized AI network, and Ocean Protocol facilitates data sharing and monetization. Impact on Tokens: FET: Could see increased utility and demand as part of a larger ecosystem.AGIX: Might benefit from enhanced AI capabilities and data access.OCEAN: May gain more integration points for data sharing within AI applications. Market Implications: Positive Synergies: The integration could drive innovation and attract more developers and users to the combined platforms.Investment Attraction: Enhanced functionality and interoperability might attract more institutional and retail investors.Potential Volatility: Short-term market volatility is possible as investors adjust to the new dynamics and speculate on the future value of the merged entity. The delay gives these platforms additional time to refine their integration plans and ensure a smooth transition, which is crucial for maintaining investor confidence and market stability
Scammers are impersonating official SHIB team members on Telegram, luring users to fake websites and stealing funds. Always verify accounts and rely on official channels. Report suspicious activity immediately to protect the community.
Moonbeam Network has launched a $13 million funding initiative to boost its ecosystem growth in key areas like gaming and real-world asset (RWA) tokenization.
The $13 million package consists of a $10 million innovation fund, $1.5 million in Moonbeam ecosystem grants, and $1.5 million in Moonriver grants.
Moonbeam is also supporting its parachain projects and the Moonriver canary network with grants.
The first ecosystem grant will allocate 4.5 million GLMR, valued at approximately $1.5 million, to four projects on the parachain, including StellaSwap DEX, Moonwell Lending Protocol, Cross-Chain Interactions platform Prime Protocol, and Beamswap.
These protocols are expected to launch their incentive programs on June 14.
Additionally, efforts are underway to enhance DeFi activities through a proposal for the Moonriver canary network, which would distribute 113,618 MOVR, worth $1.5 million.
Uniswap Labs has acquired Crypto: The Game, an on-chain Survivor-esque competition, for an undisclosed price, Fortune reported on Monday.
As part of the deal, CTG’s co-founders are joining Uniswap Labs, where they will continue to work on future seasons of the game.
Crypto: The Game, which launched earlier this year, has had some buzz for an on-chain game. NFT passes to enter the competition’s second season sold out in less than 15 minutes, with some of the 800 passes trading at a roughly 40% markup in resale, according to OpenSea data.
OP Labs has released fault proofs on the Layer 2 blockchain OP Mainnet — advancing the project to a stage 1 rollup in terms of decentralization.
The fault proof system allows for ether and ERC-20 token withdrawals from OP Mainnet without the need for trusted third parties — enabling users to challenge and remove invalid withdrawals. Fault proofs serve as a mechanism for Ethereum Layer 2 networks, allowing users to contest potentially fraudulent or incorrect transactions.
Before approval through Optimism’s governance structures, the implementation of fault proofs was supported by multiple core development teams in the Optimism ecosystem (or Superchain), including OP Labs, Base, and Sunnyside Labs — indicating a collaborative effort.
Previously, OP Mainnet did not have fault proofs — requiring users to trust operators to submit accurate state roots onto the mainnet.
OP Mainnet and other Optimism ecosystem chains use optimistic rollups as a scaling solution, aggregating Ethereum transactions off-chain for cheaper processing.
Benefits for Users: 1.Enhanced Security: Reduces risk of fraud by allowing anyone to challenge invalid withdrawals. 2.Increased Decentralization: Enables permissionless validation, removing reliance on centralized authorities. 3.Lower Costs and Faster Transactions: Maintains low fees and quick transactions typical of Layer 2 solutions.
Benefits for Investors: 1.Greater Confidence and Adoption: Higher security and decentralization boost user trust and network usage, driving token demand. 2.Technological Leadership: Positions Optimism as a leader in Layer 2 solutions, attracting more projects and developers. 3.Positive Market Impact: Implementation has already increased trading volume and market cap of OP tokens. $OP
Polygon's Community Treasury has announced a big plan to boost blockchain development: unlocking 1 billion tokens over 10 years!
Key Points:
1 billion POL tokens will be released over a decade. 100 million POL tokens will be available each year for developers. POL will become Polygon's new native token, replacing MATIC.
Get Involved:
Starting Tuesday, developers can apply for "Season 1" of the program. In this first phase, the treasury will distribute 35 million MATIC (around $22 million) to projects building on Polygon. Application deadline: August 31, 2024. Grants will range from 5,000 to 50,000+ MATIC.
The Future of Crypto Compliance: Adapting to MiCA What is MiCA?
MiCA, or Markets in Crypto-Assets, is a new regulatory framework designed to standardize rules for crypto companies and assets across the European Union. It aims to create a secure and transparent environment for the crypto community, prioritizing customer protection.
Key Points of MiCA:
Harmonized Rules: Standardizes regulations for exchanges, wallet services, payment providers, and more within the EU.
Customer Protection: Ensures a safe operational environment with a focus on protecting users.
Economic Relevance: Highlights the growing importance of the crypto economy to the EU's overall economic health.
Alignment with Traditional Finance: Brings crypto finance management closer to traditional finance, covering areas like capital requirements, anti-money laundering (AML), counter-terrorism financing (CTF), and client data protection.
When Will MiCA Take Effect?
Effective Date: December 30, 2024Transition Period: Companies have until May 2025 to fully comply with the new requirements, allowing time to adjust operations and ensure complete adherence to MiCA's regulations.
Why MiCA Matters:
MiCA is crucial for crypto asset service providers, ensuring they operate within a clear regulatory framework that promotes security, transparency, and customer protection. This alignment with traditional financial practices marks a significant step for the crypto industry's integration into the broader economic system.
Cardano on verge of "most significant" milestone in its history
Cardano founder Charles Hoskinson stated that June will be the month that Cardano Node reaches 9.0. This means that Cardano is ready for the Chang fork, and 70% of stake pool operators (SPOs) are now supposed to install the new node. Then, Cardano can be pushed into the Age of Voltaire with the help of the occurring hard fork. Hoskinson believes that the Voltaire phase is "the most significant milestone in the history of Cardano and for the industry as a whole," as in that phase, Cardano is expected to boost the level of the ecosystem's decentralization and transparency. "Cardano will be a decentralized civilization spanning the entire world with millions of residents. We'll have the most advanced blockchain governance system, annual budgets, a treasury, and the wisdom of our entire community to guide us," wrote the founder.
Ripple commits 1Billion #XRP to Japan and Korea to further develop on the XRP Ledger.
XRP Ledger ready to adopt tokenized gold, silver in Q3, 2024
As became known from the official X announcement, Meld Gold has established a partnership with Ripple, a San Francisco-based fintech company. As part of the partnership, Meld Gold will launch two new stablecoins backed by silver and gold on XRP Ledger. Per the company's Medium post, each token will represent one gram of the precious metal held by leading custody providers MKS Pamp and Imperial Vaults. The tokens are expected to go live on XRP Ledger in Q3, 2024. Meld Gold CEO Michael Cotton underscored the importance of this release, saying "Integrating XRPL as the second blockchain alongside Algorand is another step towards delivering unmatched access to assets such as gold and silver with industry-leading technologies."
Ripple as an investor launching a new fund called the "XRP Ledger Japan and Korea Fund." This fund is designed to promote the growth and adoption of XRP Ledger technology in Japan and Korea.
Here's how Ripple plans to allocate the fund:
Corporate Partnerships: Ripple will collaborate with major companies in Japan and Korea to integrate XRP Ledger technology into various industries, enhancing its use in the corporate sector.
Developer Grants: They will provide funding and support to developers working on promising projects using the XRP Ledger, helping to advance technological development.
Startup Investments: Ripple will invest in early-stage companies that are leveraging the XRP Ledger to create new and innovative solutions, fostering entrepreneurship and innovation.
Community Growth: They will support local events, hackathons, and educational programs to engage and grow the XRP Ledger communities in Japan and Korea.
By creating this fund, Ripple aims to drive innovation and expand the use of XRP Ledger technology in these vibrant markets, boosting the overall adoption of XRP.
But this will take a long time to drive the prices above the certain values as you all know 😂😂.
SUPER/USDT [4H] Recent Trend: Downtrend and consolidation but I believe this coin will rise in this bull run (yup long run as I'm not a quick cash type guy).
Key Indicators:
1. Moving Averages (MA):
Short-Term: 0.9203 Medium-Term: 0.9239 Long-Term:0.9645 Note: Price below short and medium-term MAs; long-term trend bearish.
2. Cloud:
Price below conversion (0.9413) and base (0.9817) lines; cloud above price suggests resistance.
3. Bollinger Bands (BB):
Upper Band: 0.9817 Lower Band: 0.9114 Note: Price near lower band, indicating potential oversold conditions but low volatility.
Moving Averages (MA): Short-Term (7-day): $37.700 Medium-Term (25-day): $38.425 Long-Term (99-day): $40.291 Note: Short and medium-term MAs close, possible consolidation. Long-term MA higher, indicating long-term uptrend.
Cloud: Conversion Line: $37.700 Base Line: $38.425 Note: Price around the conversion and base lines, indicating potential consolidation. Price near the cloud suggests indecision.
Bullish: If the price breaks above $38.425, the next resistance levels are at $39.516 and $40.291. Bearish: If the price falls below $37.334, look for support around $33.911 and near the trend line around $32.000.
Actions:
Long Positions: Consider entering if the price breaks above $38.425 with strong volume. Set take profits around $39.516 and $40.291. Place stop-loss orders below $37.334.
Short Positions: Consider entering if the price falls below $37.334. Look for targets around $33.911 and $32.000. Set stop-loss orders above $38.425. $BTC
$BTC List to check 😇 1. Mixed indications 😵 2. Consolidation phase with potential volatility👍 (good for those who was looking for these spikes and for the spot guys like us) 3. ADX: Weak trend strength. 👎
There are other key factors too, but I would say get in with about 35 %🤔
Next, I'll provide with some good and maybe profiting coins in this run 😇
Moving Averages (MA):The price is above all three moving averages (7,25,99), which is typically a bullish signal indicating an uptrend.
Cloud: The price is above the cloud, indicating a bullish trend. The conversion line is above the base line, which is another bullish signal.
Bollinger Bands
Upper Band: 0.000037200 Middle Band (SMA 20): 0.000027000 Lower Band: 0.000018356 What It Means: The price is near the upper Bollinger Band, suggesting the asset might be overbought, meaning the price could correct downwards.
Volume SMA 9: 152.147 High trading volume during price increases confirms bullish interest. The volume has generally supported the price rises.
RSI (14): 68.83 An RSI near 70 indicates the asset is approaching overbought conditions, suggesting a potential for a price pullback.
Stochastic RSI : %K (14,3,3): 65.73 %D (14,3,3): 59.60 What It Means: The Stochastic RSI indicates bullish momentum but is nearing the overbought territory, which may lead to a price correction.
(ADX): An ADX above 25 indicates a strong trend. At 42.42, it confirms that the current bullish trend is strong and likely to continue.
Summary
Overall Trend: The price is in a strong uptrend, as indicated by several bullish signals.
Bullish Indicators: Price above moving averages,cloud, and strong ADX.
Potential Overbought Conditions: RSI and Bollinger Bands suggest the asset might be nearing overbought conditions, indicating a possible price correction.
Volume Consideration: While trading volume has been high, a recent decrease in volume could signal weakening momentum.
Conclusion
FLOKI/USDT shows a strong upward trend, supported by multiple bullish indicators. However, signs of overbought conditions suggest caution, as a price correction could occur. Keep an eye on RSI and volume changes for potential reversal signs.
Be careful of the $BTC though he is the King afterall.
Moving Averages (MA): Short-Term (7-day): 0.3366 Medium-Term (25-day): 0.3012 Long-Term (99-day): 0.3874 Note: The current price of 0.4015 USDT is above the short-term and medium-term MAs, indicating a potential bullish trend. Watch for resistance at the long-term MA.
Cloud: The price is above the Conversion and Base Lines, which is a bullish signal, but the cloud above the price suggests future resistance.
Bollinger Bands (BB): Upper Band: 0.4028 Lower Band: 0.2323 Note: The price is near the upper band, indicating potential overbought conditions.
Volume: 9-day average: 19.095M: High volume indicates strong buying interest.
RSI (14-day): Value: 79.23 Note: The RSI is in the overbought territory, suggesting the asset might be overvalued and a pullback could occur. Stochastic RSI: %K: 100.00 %D: 98.97 Note: Both values are in the overbought range, reinforcing the possibility of a pullback.
Volume Oscillator (5-day,10-day): Value: 35.85%: Higher current volume supports the price increase. ADX (14-day):Value: 32.21: Indicates a strong trend.
Next Price Prediction:
Bullish: If the price stays above the short and medium-term MAs and the Cloud lines, it could rise further. Watch for resistance around 0.3874 (long-term MA) and near the upper Bollinger Band at 0.4028.
Bearish: A pullback might happen if the price fails to break the upper Bollinger Band. Look for support around 0.3366 (short-term MA) and 0.3012 (medium-term MA).
Actions:
Long Positions: Consider taking profits if the price exceeds the upper Bollinger Band or set stop-loss orders around 0.3874 (long-term MA).
Short Positions: Look for reversal signals near resistance levels or if the volume decreases.
Note: Always consider market conditions (main BTC) before making any trades.
Volume: 9-day average: 1.142M Note: High volume, strong buying interest. RSI (14-day):Value: 61.76 Note: Close to overbought but not overextended. Stochastic RSI:%K: 81.56 %D: 54.64 Note: Bullish signal but nearing overbought conditions.
Current Price: SHIB is currently trading at 0.00002528 USDT.
Key Levels
Support Levels: Around 0.00002160 USDT (lower Bollinger Band) Around 0.00002501 USDT (Cloud Span A) Resistance Levels: Around 0.00002707 USDT (middle Bollinger Band) Around 0.00002582 USDT (Cloud Base Line) Around 0.00002625 USDT (99-day Moving Average)
1.Current RSI (14 days): 52.31, which is neutral (neither overbought nor oversold). 2.Current Values: %K: 30.03, %D: 16.96, indicating the market is slightly oversold, suggesting a potential price increase. 3.Current ADX (14 days): 15.43, indicating a weak trend.
Overall Trend [Cloud Indicators]:
Current Status: Price is within the cloud, indicating consolidation (sideways movement without a strong trend). Future Cloud: Slight bullish bias but weak.
Summary :
What's Happening: SHIB's price is currently in a consolidation phase with no strong trend direction. Current Trend: Neutral, as indicated by various indicators.
Key Points to Watch:
Support: If the price falls below 0.00002501 USDT, it could drop to the next support level around 0.00002160 USDT. Resistance: If the price rises above 0.00002707 USDT, it could continue to rise towards 0.00002625 USDT.
Advice: The market is currently neutral with low volatility. It might be wise to wait for a clear breakout above resistance or breakdown below support before making a trading decision. Keep an eye on volume and other indicators for confirmation of the next move.