Category: Cryptocurrency News

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As the Shibarium launch draws near, the popularity of the blockchain’s native token, BONE, has been on the rise. In today’s announcement, Singapore-based Exchange BingX announced the listing of BONE trading pairs (BONE/USDT) on the beta version of its BingX Spot platform. The exchange said that the deposit and withdrawal service of the BONE token will be available on the BingX exchange starting from January 18, and trading will commence once the pairs are launched. According to the company’s announcement, the move was taken due to the high demand from customers and members of the Shiba Inu and BONE community. BingX cryptocurrency exchange currently has around five million registered users. The Singapore-based crypto exchange provides users with spot, derivatives, copy and grid trading services to more than 100 countries and regions.  Related Reading: BingX`s New Copy-trading Subsidy Vouchers Will Allow Users To Recover Losses BONE Surges Nearly 15% In 7 Days So far, BONE has gained significant momentum to the upside over the past weeks, especially following the developers’ announcement on making BONE the token to cover gas transactions and compensate validators and delegators on the layer-2 Shibarium blockchain. BONE has advanced and reached higher highs both in price and amount of holders. The BONE holder count has surpassed 60,000, indicating rapid accumulation by various investors. Regarding price, BONE has followed suit with the general crypto market rally. The token has surged 72% in the last 30 days. Meanwhile, at the time of writing, BONE is currently trading at $1.33, down by nearly 11% in the last 24 hours, with a trading volume of $12.1 million over the same period. BONE has also been on an active rally to the upside since the start of this year, with its price reaching a four-month high of $1.59 yesterday, December 18. Currently, CoinMarketCap ranks BONE as the 124th largest cryptocurrency in the world based on market capitalization. The Shiba Inu community believes that BONE has the ability to enter the top 100 cryptocurrencies soon after the launch of the Shibarium Beta. Related Reading: Shibarium Developers Say Each On-Chain Transaction Will Burn SHIB Tokens Shiba Inu’s BONE Anticipated Catalyst Speaking of BONE, the token’s most anticipated catalyst as of this moment is its use case on the Shibarium blockchain. Earlier this month, Shibarium Developers announced BONE would be the only token that would be used for gas fees as well as other blockchain activities, and “No other tokens will be necessary to operate within the protocol.” Featured image from WatcherGuru, chart from TradingView

The collaboration will allow both individuals and institutions to launch subnets that can operate as self-sufficient blockchain systems.

A hierarchical deterministic wallet uses a single seed to create an infinite number of addresses, allowing users to recover funds using a master key.

Ethereum fell lower on Thursday, as cryptocurrency markets continued to react to the latest U.S. retail sales figures. Sales in the United States fell by more than expected, coming in 1.1% lower in December. Bitcoin also declined in today’s session, with prices falling below the $21,000 mark. Bitcoin Bitcoin (BTC) dropped below the $21,000 mark […]

Vitalik Buterin identified distributed validator technology, or DVT, as a key component of Ethereum’s decentralization efforts.

1inch Networks’ upcoming hardware wallet has no direct connection to the internet and doesn’t require any wired connection.

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Solana native token SOL has been on a tear since the start of the year. But the token might be on its way to test its support as it faces rejection.  Recent on-chain developments contributed to Solana’s climb. But with the rejection, can SOL regain its bullishness?  Related Reading: LUNC Network Upgrade Backed By Major Exchanges – Will The Crypto Balloon In Price? Solana Keeps Things Aglow The Solana ecosystem is touted as an “Ethereum killer” as it rose in prominence due to its low transaction fees and its capability to go through thousands of transactions per second. Sam Bankman-Fried, former CEO of the now-defunct crypto exchange FTX, called the ecosystem “underrated” last year.  This connection with SBF and FTX led to both the ecosystem and the token to take a plunge, losing nearly half of its value. SOL total market cap at $7.6 billion on the daily chart | Chart: TradingView.com Because of this, the team behind the network made efforts to distance itself from FTX and Bankman-Fried. The Messari overview which was commissioned by the Solana Foundation, detailed how things went down with regards the crypto exchange and its former big boss.  Image: BONK/Twitter But during the turn of the year, SOL and other altcoins started rallying as major cryptocurrencies like Bitcoin and Ether broke through crucial resistances. And with the release of BONK during the rally, the network usage of SOL shot upwards, adding on to the already solid trajectory that SOL has.  Source: Alchemy Despite the fear, uncertainty, and doubt that plagued the ecosystem, Solana is still considered as a fast growing ecosystem, according to a recent report, which shows that the development on the network is increasing compared to its competitors.  1/ A new report by @ElectricCapital shows that Solana is the fastest growing developer ecosystem, surpassing 2,000 total developers in 2022. It’s second in raw numbers only to Ethereum. Let’s dig into the numbers.https://t.co/HQvPbQzQD2 pic.twitter.com/xV6pnoT7db — Solana (@solana) January 17, 2023 This certainly had an effect on SOL’s price. At the time of writing, SOL is trading at $20.63, up 30% in the last seven days.  Rejection Line And What It Means Meanwhile, the token was rejected at $25, which could mean that bears will be able to test the two support levels that helped SOL reach its peak price. In the next few days, SOL is seen retesting the $18 and $16 supports.  Chart: TradingView.com Related Reading: XRP Bulls Aim For $1 As Crypto Advances With 12% Weekly Pump SOL’s bullish pace in the weekly timeframe would certainly have an effect on the token’s ability to recover from the rejection. Although it is highly likely that the $18 support will break, investors and traders can rely on $16 as a launching pad to retest $25 in the coming days or weeks.  If $25 is broken, $30 should be the next target as a breakthrough in this area would give SOL bulls legroom for more upward movement. SOL can rely on a solid ecosystem and a bullish community to recover lost ground. Featured image by Sunshine Adult Day Care