Category: Cryptocurrency News

I'm genuinely wondering how close the capabilities of BitVM are to Ethereums EVM? As I understand Solidity is turing-complete, while for BitVM I heard it is at least functionally complete. In case both are able to contain similar capabilities, how do you think BitVM will influence the Ethereum ecosystem? submitted by /u/Joe94 [link]…
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Trader Joe’s, a well-known supermarket chain in the United States, has taken legal action against a decentralized exchange (DEX) platform named Trader Joe, alleging that it has violated federal trademark laws.  The DEX platform, which operates under the domain name traderjoexyz.com, not only shares the same name as the supermarket but, according to recent reports, also appears to be trying to leverage the supermarket’s established brand and reputation.  US Supermarket Giant Locks Horns With Trader Joe DEX Trader Joe’s has gained popularity in the digital realm by initially launching on the Avalanche (AVAX) network and later expanding its presence to BNB Chain, Arbitrum (ARB), and Ethereum (ETH).  It currently holds over $77 million worth of tokens across various chains and has processed trades amounting to $25 million in September alone.  However, its success has been overshadowed by a heated dispute regarding the origin of its brand and allegations of fraudulent attempts to misrepresent its origins. Related Reading: Here’s Why The Ethereum Price Fell Toward $1,500 Trader Joe’s supermarket chain has grown increasingly frustrated by the lack of response to its requests to cease the misuse of its trademark. As a result, the matter has escalated internationally, and a complaint was filed with the World Intellectual Property Organization (WIPO) in May 2022 to force the crypto entity to relinquish its domain name. Furthermore, recently filed court documents in the US District Court for the Central District of California shed light on the proceedings at WIPO. According to these documents, the defendants presented a false narrative that distorted the true origins of “Trader Joe’s.”  They claimed that the platform was named after the co-founder’s brother, a claim that Trader Joe’s supermarket chain has vehemently denied. JOE Token Plummets In Value Amidst Legal Battle Trader Joe DEX has recently seen notable variations in several critical metrics, with shifts in trading volume, market capitalization, revenue, and total value locked. Over the past 24 hours, Trader Joe’s experienced a decline of 1.68% in its performance. This short-term dip in value has been reflected in the platform’s seven-day performance, with a 3.85% decrease.  However, despite these recent setbacks, the DEX has managed to maintain relative stability over 30 days, with a modest decline of 1.04%. According to Token Terminal data, one of the most striking figures is the platform’s 180-day performance, which shows a significant drop of 60.82%. Related Reading: Cardano (ADA) Struggles To Stay Above $0.26: What This Means For Traders Nevertheless, when considering market capitalization, Trader Joe’s DEX boasts a circulating market cap of $90.84 million, indicating its prominence within the DEX ecosystem.  Moreover, the platform has shown a positive trend, with a recent increase of 2.26%. Total value locked (TVL) is another crucial metric used to assess the health and popularity of a DEX platform. Despite the recent market fluctuations, Trader Joe DEX continues demonstrating a TVL of $78.66 million.  However, it experienced a decline of 4.54%, suggesting a potential shift in user participation and liquidity within the platform. Finally, trading volume, an essential measure of a platform’s activity, has witnessed a significant annualized decrease of 18.45%, amounting to $7.61 billion. This decline in trading volume raises concerns about engagement and participation on the Trader Joe DEX platform. Featured image from Shutterstock chart from TradingView.com 

The economy is refusing to go down. If the trend continues, cryptocurrency prices are going to start rising — especially with Bitcoin’s halving.

Treasury yields declined, giving stock market bulls new momentum.

Israeli law enforcement launched an operation targeting crypto addresses associated with the terrorist group Hamas. The country suffered an attack this past Sunday, leading to deaths and many civilians disappearing. Related Reading: Binance Faces Scrutiny Over Alleged ICO Missteps And Token Distribution Discrepancies Binance And Israel Work Together To Freeze Crypto A local news media Calculist report confirmed an operation led by the Israeli Police Department and the National Counterterrorism Headquarters, part of the Ministry of Defense. The operation was supported by the world’s largest crypto exchange, Binance. During the operation, the law enforcement agencies discovered funds raised by the terrorist group via crypto donations. The investigation led the cyber unit from the Israeli Police to the crypto trading venue. The terrorist group launched the campaign in the past few days. The law enforcement agencies claimed that Hamas used the attention from Sunday’s attack to raise money from radicals and supporters worldwide. The terrorist group, the report claims, turned to social media platforms to launch the campaign. A spokesperson for the law enforcement agencies told Calculist the following regarding the events: As the war broke out, Hamas launched a fundraising campaign on social networks, asking the public to deposit crypto into its account. The cyber unit and the NSC have been working immediately to locate and freeze the accounts, assisted by the Crypto Exchange (Binance), to freeze the funds (…). The report claims that Binance has been aware of Hamas’s operation on its platform. In a separate report from CoinDesk, some data suggests previous cooperation between Binance and Israeli law enforcement. The company helped Israel to freeze almost 200 accounts connected to Hamas and other terrorist groups. A spokesperson for the crypto exchange told CoinDesk: Over the past few days, our team has been working in real-time, around the clock to support ongoing efforts to combat terror financing. We are committed to ensuring the safety and security not just of the blockchain ecosystem, but also the global community, through our proactive work. Following the events of the past Sunday, the conflict between Israel and Hamas escalated. The nation-state declared war on the terrorist organization and appeared to be preparing to increase its offensive on the Gaza Strip in response to the terrorist group. Related Reading: Binance CEO Foresees Monumental Bitcoin Price Shift Following Halving In this context, the cooperation between Binance and local enforcement seems likely to increase. Israel will fight Hamas across all sectors, including the nascent industry and its related companies and tools. Cover image from Unsplash, chart from Tradingview

With tens of thousands of altcoins circulating the market, crypto investors can easily miss out on the next 100x coin due to it not being on their radar. This is often not the fault of the investor as it can be hard to keep track of so many coins. As a result of this, a Santiment analyst has presented a total of 6 overlooked altcoins that could be primed for a rally. Crypto Analyst Presents Altcoins Using Network Activity As pointed out by the crypto analyst in the Santiment post, the altcoins outlined were picked due to an uptick in their network activity. These tokens have been able to stay under the radar but their activities spread across transaction volumes, network growth, and large transaction numbers, among others, have caught attention. Related Reading: Why Does Ripple Return Unlocked Tokens To Escrow? Pro-XRP Lawyer Provides Answers “The extra juicy opportunities lie with projects that maybe haven’t seen any special price decouplings recently, yet have a surge in network growth, or whale transactions and accumulation.” He further added that these projects are “at minimum, likely to have some increased volatility due to extra activity that hasn’t existed on their respective networks in quite some time.” 1 – Bancor (BNT) Emerges Top Of Altcoins List As outlined in the post, the Bancor Network, a permissionless protocol that caters to open-source DeFi protocols, has seen a notable rise in its network metrics. This spans across high transaction volumes, active addresses, network growth, whale transactions, exchange inflows, and age destroyed (Consumed). This could be a predecessor to a rise in the BNT price. Source: Santiment 2 – Cartesi (CTSI) The application-specific rollups Cartesi network which features a Linux runtime has also seen a rise in metrics similar to Bancor that could signal a rise in its native CTSI token. This also spans “High Transaction Volume, Active Addresses, Whale Transactions, Age Destroyed (Consumed)” as pointed out in the post. Source: Santiment 3 – Holo (HOT) Holo (HOT) on the Holochain allows for Peer-To-Peer (P2P) applications and has made it to this list mainly due to its whale transactions. The Santiment post shows a rise in whale accumulation among addresses holding between $100,000 and $1 million, as well as high whale transactions, exchange inflows, and age destroyed (Consumed). Source: Santiment 4 – Powerpool (CVP) The Powerpool (CVP) protocol is a governance-facing protocol that has seen similar trends to Holo (HOT) above. Just like Holo, there has been accumulation among whales holding $100,000 to $1 million. “High Active Addresses, Network Growth, $100K-$1M Whale Accumulation, Age Destroyed (Consumed),” the analyst writes. Source: Santiment 5 – Storj (STORJ) The Storj (STORJ) project is one that aims to provide cleaner storage services, allowing organizations to cut down their carbon footprint as well as reduce their cloud storage costs. But this under-the-radar altcoin has made it into the list. The analyst points to “High Transaction Volume, Active Addresses, Network Growth, Whale Accumulation, Age Destroyed (Consumed)” as shown in the chart. Source: Santiment 6 – UniLend (UFT) Unilend (UFT), a protocol that brings all decentralized finance (DeFi) trading to offer in one place, making them accessible through smart contracts, has seen a rise in activity as well. Coming up as the 6th altcoin on the list, Unilend’s growth spans “High Transaction Volume, Active Addresses, Network Growth, Whale Transactions, $100K-$1M Whale Accumulation, Exchange Inflow.” Source: Santiment Altcoins: Exercise Caution With These Cryptos Although these assets have seen a lot of increase in their network activities, the crypto analyst warns that “It appears that 4 out of these 6 highlighted projects are likely getting hot network activity BECAUSE of the price pump. For the other 2, there are no guarantees that a pump is around the corner.” Related Reading: These Bullish Factors Prove XRP Price Rally Is Not Over Yet However, as always, crypto investors are urged to “make your own assessments, research these and the many other projects that show similar hot network activity on this model in weeks to come.” Total market cap sitting at $1.045 trillion | Source: Crypto Total Market Cap on Tradingview.com Featured image from Busha, chart from Tradingview.com

The platform was the victim of a phishing scam that routed users to a website that drained their wallets after they approved a transaction.

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