Hi all, this is a dumb question from a beginner. I can't figure out if there is any correlation between the two: market cap and total value secured. Actually the second almost double the first. Is this proportion going to be volatile or almost fixed? I've noted from ultrasoundmoney website that market cap almost equal…
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Per the various articles, a person brought 8k of Shib throughout August 2020 and was still holding the ~70 trillion (12%) of Shib tokens up and past the various peaks. At $0.00008 it was shown their Shib holdings were worth $5.7 billion in value. Creating this viral buzz which drove alot of people to throw…
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Amidst the turmoil surrounding crypto exchange FTX, there is currently one big loser, Solana (SOL). While the FTT token is at the center of discussions for many market observers after Binance CEO Changpeng Zhao announced to sell all FTT tokens, SOL is seeing a massive -12% drop in price over the last 24 hours. Even the FTT token is currently posting a loss of just under -3%. So what is driving the SOL sell-off ? Just a few days ago, SOL experienced a massive price spike after Google announced the launch of a Solana validator. Related Reading: Solana: A Quick Evaluation Of How The Blockchain Performed In Q3 This Year Early Monday morning, SOL fell from its one-month high of $38.78, which it reached on Saturday, to $30.74 on Binance. At press time, the SOL token was trading at $31.34. Today’s sell-off has thus wiped out all gains following the Google news and is now trading -8% on a weekly basis. Solana A Victim Of The FTX Drama? The Ethereum community, most notably Eric Conner, core dev of Ethereum and co-founder of EthHub were quick to denounce the supposed “Ethereum killer”. Conner stated via Twitter that it’s “funny as hell” to see the alleged “FTX/Alamada/Solana scam” unfold after two years. It’s so fucking hilarious watching you all realize the FTX/Alamada/Solana scam 2 years after most of us called it out and got lambasted for doing so. — eric.eth (@econoar) November 7, 2022 But words of warning for Solana investors are not only coming from the ETH community. User are wondering if an possible impending FTX implosion will have a cascading effect on SOL. Pay attention to #Solana , ftx will have to sell to cover expenses. If they are having issues — the BERG (@ADAMBERGMANshow) November 7, 2022 It was recently revealed that Solana (SOL) tokens are among the more significant assets on FTX’s balance sheet. Bankman-Fried was an early investor in Solana and has drummed up support for Solana several times in the past. Related Reading: Bitcoin (BTC) Looks Strong Above $20,500; Here Is The Key Level To Watch The exchange owns about $3.37 billion in cryptocurrencies, with a large amount being SOL tokens: $292 million in “unlocked SOL”, $863 million in “locked SOL,” and $41 million in “SOL collateral”. The total of about $1.2 billion in SOL tokens could be a means for FTX to get liquidity and defend the price of the FTT token, which is also the main pillar on FTX’s balance sheet. However, little is currently known about putative SOL selling by FTX. However, the sole relationship between FTX and Solana could be a major drag on the SOL price at the moment. Thus, pure speculation could also be behind the current SOL dilemma. Backdrop is, as described at the beginning, that FTX has a deep connection with SOL. If there is a prolonged bank run, there is at least a very high probability that the Solana token will also take a big hit. But, if Bankman-Fried is dumping SOL, it’s definitely not the only altcoin. As on-chain analysts note, other tokens are also affected of the selling pressure by FTX. These coins include CHZ, LOOM, SHIB, LINK, and DYDX.
Web Summit attracted over 71,000 attendees to Lisbon for the renowned technology summit, with cryptocurrency and blockchain taking a more central role in 2022.
Last year, Bitcoin’s total network hashrate was around 160 exahash per second (EH/s), and 15 known mining pools dedicated hashrate to Bitcoin on Nov. 6, 2021. At that time, the mining pool Foundry USA was the fifth largest mining pool with 18.44 EH/s dedicated to the Bitcoin chain. During the last 12 months, Foundry has […]
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Hello, We have updated the User Verification process to verify exchange/company/projects accounts on the sub-reddit. The Verification Program allows users to verify their accounts and obtain a Verified ✅ flair on the sub for themselves and their associated accounts. The current list of verified users can be found here. If you are from an exchange/project…
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Solana bulls show signs of countering the ongoing correction trend, raising anticipations that SOL price will recover in the coming months.
So SBF issued 4 different tweets a few minutes ago: A competitor is trying to go after us with false rumors. FTX is fine. Assets are fine. FTX has enough to cover all client holdings. We don't invest client assets (even in treasuries). We have been processing all withdrawals, and will continue to be. It's…
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Once a week, the official Tron Twitter account would tweet out an update for the world to see. The events of the past week, the post claims, have provided Tron with new possibilities. Also during the quarter, Messari published their own report on Tron’s performance. As more data on the token’s side are investigated, the research claims that the future of the protocol is bright, but that mixed signals are spreading doubt to fans and investors. This can be worrisome since low confidence can lead to a sell-off, which can further drive the token’s price down. Even while there is hope for the token’s future in the Messari research, investors in cryptocurrencies appear to be more concerned with the continued decline in development activity and other factors. 🔥The report points out that: ✅#TRON #TVL grew by 61% QoQ. ✅The total transactions grew by 12.4% to 5.3M over Q3. ✅#TRON network activity reached a refreshed foundational user base after the launch of #USDD in May. 👀Read the full report👇https://t.co/BOxQzatH9M — TRON DAO (@trondao) November 5, 2022 In addition, the amount of DeFi territory on Tron ballooned dramatically. There was a 61% rise in TVL (total value locked). Total TRX transactions also increased by 12.4% year over year in the third quarter to 5.3 million. How high may TRX go in the next several days, and will bears in the TRX market eventually prevail? Related Reading: Tron Development Activity Grows In The Last 7 Days – Except TRX Price Tron: Mixed Signals And Price Forecast As of this writing, the Tron looks like this: CoinGecko claims that TRX did not experience any price growth throughout the last three months. However, at the time of writing, it appears that token prices are on the rise. TRX is exhibiting a descending triangle formation, which is a bullish indicator for investors and traders. This has the potential to restore the token’s confidence. Currently, TRX is trading in the green at $0.0627, and a bullish breakout is possible during the next several days. Soaring Stoch RSI data will be the indication for investors and traders to monitor, as continued rising movement on this indicator indicates a possible pullback in the coming days or weeks. Yet, this is counterbalanced by the bearish CMF and CCI indicators, which indicate either partial or complete bear dominance over the TRX market. TRX Holders Brace For Next Price Movement As the breakout nears, the EMA ribbon signal suggests opening a long position now. TRX’s trading range has shrunk from $0.0523 to $0.0724 during the last weeks to the current range of $0.0588 to $0.0670. Along with the rising behavior of the Stoch RSI data, this significantly validates the EMA ribbon’s price movement prediction. As this day approaches, the market will finally take into account Messari’s previous optimistic quarterly report. While this day has not yet arrived, TRX holders should continue to hold until the rally occurs. Related Reading: Dogecoin Climbs 6% In Last 24 Hours – Can DOGE Maintain Its All-Green Aura? TRXUSD pair trading at $0.062489 on the daily chart | Featured image from Forbes, Chart: TradingView.com
