Category: Cryptocurrency News

Cryptocurrency News and Public Mining Pools

A genuine questionđŸ€”

Correct me if I’m wrong, but the very basic notion of investing in crypto is that a bear market is where money is made as you purchase assets at discounted prices and a bull market is where profits are realised as this is where these assets rise significantly. My perspective is that this current climate…
Read more

Why Pain May Not Be Over For Bitcoin Holders Just Yet

Past trend of the Bitcoin long-term holder SOPR (EMA 30) may suggest that BTC holders may face more pain in the coming months. Bitcoin Long-Term Holder SOPR Has Dropped Below “One” Recently As explained by an analyst in a CryptoQuant post, BTC investors may be in for a frustrating few months if history is anything to go by. The “spent output profit ratio” (or SOPR in short) is an indicator that tells us whether Bitcoin investors are selling at a profit or at a loss right now. The metric works by going through the transaction history of each coin being sold on the chain, to see what price it was last moved at. If the previous selling price of any coin was less than the current value of BTC, then the coin has just been sold for a profit. On the other hand, the past value being more than the latest price of the crypto would imply the coin has moved at a loss. When the value of the SOPR is greater than one, it means the overall Bitcoin market is selling at a profit right now. Related Reading | Bitcoin Coinbase Premium Gap Approaches Zero, Selloff Ending? On the other hand, values of the indicator less than one imply investors as a whole are realizing some loss at the moment. Now, the “long-term holder” (LTH) group includes any Bitcoin investor who has been holding their coins since at least 155 days ago without moving or selling. The below chart shows the trend in the SOPR over the history of the crypto specifically for these LTHs. Looks like the 30-day exponential-MA value of the indicator has gone down recently | Source: CryptoQuant In the above graph, the quant has highlighted all the regions of relevant trend for the Bitcoin long-term holder SOPR. It seems like during past bottoms, the indicator’s EMA-30 value has gone below one and trended sideways there for a while (except for the COVID-19 crash, where the metric didn’t stay in the zone for too long). Related Reading | Bitcoin Whale Presence On Derivatives Still High, More Volatility Ahead? Recently, the LTH SOPR’s value has once again gone below one, suggesting long-term holders are realizing losses right now. The analyst notes that while such capitulation events have historically lead to bottom formations, it may still be a while, even months, before a low is actually found. BTC Price At the time of writing, Bitcoin’s price floats around $21.4k, up 11% in the past week. Here is a chart that shows the trend in the value of the coin over the last five days: The price of the coin seems to have surged up over the last few days | Source: BTCUSD on TradingView Featured image from Kanchanara on Unsplash.com, charts from TradingView.com, CryptoQuant.com

Harmony’s $100M Hack Was Due to a Compromised Multi-Sig Scheme, Says Analyst

On June 23, 2022, the Harmony development team announced that $100 million was siphoned from the Horizon bridge, and the organization explained it was working with national authorities and forensic specialists. According to an account published Polygon’s chief information security officer, Mudit Gupta, the Horizon bridge attacker allegedly took control of the multi-signature wallet leveraged [
]

Crypto’s Richest Man Moves To Dubai As US Regulators Target Exchange

submitted by /u/ImaFreemason [link] [comments]

Dev Meeting Transcripts (June, 2022)

[11:50 AM] Tron: I will likely be driving during today's mtg. I'm testing the beta of Moontree wallet. I like it. There were some issues with the RVN Wallet this week (see twitter). The API feeding the RVN price to the app failed. It looks like it is back. [11:53 AM] kinkajou (SegWit Clique): I'll…
Read more

Yes, it is a bear market, I think even the most optimistic of us can finally admit that, but let’s still talk mass adoption.

What do you consider to be the best gateway app/service for crypto and why? What is missing from the communities of such apps? More crypto discussions? More FAQs? More explanation videos/content? submitted by /u/BreakfastAntelope [link] [comments]

permissoned zkRollup with private smart contract?

Hey guys! Recently, I deal with ETH scalability solutions and I started to read more about zkRollup. All found solutions are permissionless and do not deal with privacy (except Zcash which allows anonymous transactions). In my opinion, zkRollup can be easily used as a permissioned/consortium system. The basic implementation to make this kind of system…
Read more

This has probably been asked 100x, so I apologize, but at least I’m trying to get educated.

I have a handful of ETH I’m looking to stake. I was leaning towards Kraken, but after some reading about decentralization, I’m thinking rocketpool may be the way to go. Can anyone break this down better? When exactly would you be able to pull your ETH? I’m a bit confused about ETH 2.0/Phase 1.5. How…
Read more

Uniswap Slingshots 45% – Can UNI Blaze Past Its 7-Day Rally?

Uniswap is once again hogging the headlines following the token’s comeback in the wake of optimistic signs that the bear market may be winding down. In the past week, UNI, its native token, has seen enormous growth, as the decentralized exchange’s trading volumes have rivaled those of Ethereum, the blockchain on which it is constructed. Multiple news agencies stated that Uniswap had exceeded the Ethereum network in terms of transaction fees. The flagship DEX collected more than $4 million, surpassing the second-largest blockchain. UNI increased by roughly 45 percent in the last week, reaching $5.46, its highest level in more than three weeks. Uniswap Making Northbound Trajectory The biggest DeFi exchange has been trending upward since the beginning of the week. Looking at the price trend over the last few days, it appears that UNI’s main objective is to close June on a positive note. In addition, the stockpiling of UNI tokens by whales is a significant component in the token’s price bump. After a debilitating first half of the year, rising fees on Uniswap may be an indication that the DeFi market is beginning to recover. UNI total market cap at $4.14 billion on the weekend chart | Source: TradingView.com This year, total value locked (TVL) in DeFi has shrunk by more than 60 percent, according to data from DeFi Llama. Katie Talati, an analyst at Arca, attributes the DeFi exchange’s most recent accomplishment to quickly increasing volatility, which led to a substantial increase in trading volumes. Simultaneously, Ethereum has witnessed a significant fall in user activity, whereas layer-2 solutions are gaining popularity because of their low transaction fees. UNI Facing Bullish Momentum Uniswap is among those that have benefited from the recent market restoration, having lately attempted a price turnaround. UNI is up 2% in the last 24 hours, which is a significant increase for the token since it dropped to $3.39 during the last slump. Faced with the continued bullish advance, there is no selling opportunity for bears in the $5.8 to $6.2 resistance zone, which has been in place for more than 30 days and has been repeatedly retested. Although bears are still prominent in the bull market, bulls do not wish to relinquish their UNI token holdings. This year, Uniswap has lost less than 50 percent of its total value locked (TVL). This week has also seen modest inflows, with the TVL increasing by 11 percent to $5.1 billion. Enhanced participation with Ethereum Layer 2s may contribute to the exchange’s rising popularity. Already embraced by major organizations like Polygon and integrated into other Ethereum-based applications, Uniswap has a large user base. Featured image from Cryptokio, chart from TradingView.com