Real (not) footage of "utility altcoins" performing in 2024. | Vini Barbosa on Binance Square

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Real (not) footage of "utility altcoins" performing in 2024.

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The USH Staking Hub already has $9M in Total Value Locked after its Private Mainnet launch yesterday. USH is an overcollateralized stablecoin (similar to DAI), built on MultiversX. For now, only whitelisted addresses can interact with the contract as Hatom Labs (@HatomProtocol) prepares for the official launch on the Public Mainnet, expected in the next few days, according to Oussa, Hatom's CMO, on Telegram: 💬"It’s just a matter of a few days now—just a bit more patience." In the meantime, Robert already dropped some alpha on Hatom's Telegram group, reminding people on what the USH launch could bring to the $EGLD ecosystem. 💬"More liquidity, more LPs to farm, more opportunities to arbitrage (USH, sEGLD), USH Staking Module and we will make sure that USH will be integrated in every corner of the ecosystem so the demand is there." Hatom's token will likely also benefit from the launch, as some rewards will be distributed in $HTM that the protocol will buy-back from the market, generating demand pressure, instead of relying solely on token issuance/unlocking. I'm surely looking forward to this launch and what else it will bring. eco/acc

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Today is the Proof-of-Keys Day! 🔑 A day to remind crypto users that “not your key, not your coins.” A day where all crypto owners are encouraged to withdraw anything they have in third-party custody to a self-custody wallet. This helps to keep custodial services honest with their reserves, preventing, for example, these custodians are using your money in short operations or high-risk yield applications (see FTX). So, if you have ANY crypto in somebody else’s custody, now is the day to make something different and learn how to securely move it to self-custody. Do it now. Happy January 3rd! Happy Proof-of-Keys Day!

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Solana is one of the most extractive and predatory chains I know of. And I'm not only talking about the PvP madness while trading memecoins, with players trying to rug pull each other before being rug pulled themselves. I'm talking about Maximal Extractable Value (MEV)-abuse. Which is validators intentionally extracting liquidity from users. Due to its design, running a Solana validator node is extremely expensive and, usually, receiving the staking rewards through linear SOL issuance plus base fees is not enough to pay for the infrastructure costs. To keep things going, some validators rely on The Solana Foundation Delegation Program. A subsidy paid by the Foundation to whitelisted validators, to help pay the costs and keep everything running. Others, however, have developed MEV tactics. Some with a (very) questionable morality, like the Sandwich Attacks, front running users' swaps, abusing of their privilege position as mempool runners, block builders and/or transaction proposers. Solana also has a high ratio of failed transactions. Each time a transaction fails, users need to pay the respective fees over and over again, because even failed transactions cost fees distributed to the validators who failed to do their job and validate these transactions. Crazy, right? This design effectively encourages validators to fail into validating transactions as a MEV tactic, because it means more fees paid from the same users while trying to do some basic operations that would've worked flawlessly and inexpensively in most other chains. And we are just scratching the surface here. What other predatory and extractable activities you know from Solana?

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As 2024 comes to an end, $EGLD is about to test this support zone (that is becoming a support line) again. At the same time, it has just found another rejection on the 4H 50-EMA, using this indicator as resistance. Each new up and down retest puts MultiversX's native token in a tighter range that could break out at any moment, either up or down. The main demand pressure currently lies around $33.25 at the support zone higher edge, but price could go as low as $29.75 while still respecting this liquidity formation. The main supply pressure is following the 50-period exponential moving average, now at $35. There are significant selling walls around $37.5, $47,5, and $51.40, which is the point where EGLD crossed the 50-EMA to the downside on December 9. Looking at the Relative Strength Index (RSI), momentum is still neutral, but trending in the bullish direction, making higher lows, currently at 46.6. This suggests an upside breakout once the trading bots get tired of playing this tighter range. Nevertheless, anything can happen, as usual. EGLD is trading at $33.75 right now and I'm loading up. #EGLDSqueeze - NFA, just entertainment. Cryptocurrencies are fairly unpredictable. DYOR and happy new year!

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