The post Bitcoin Funding Rates Goes Negative Just Before Halving – Is a Bear Market Imminent? appeared first on Coinpedia Fintech News

Bitcoin’s funding rate, a key metric in the crypto derivatives market, has turned negative for the first time since late 2023, signaling a bearish shift in market sentiment. This unexpected occurrence comes just two days before the anticipated Bitcoin halving event, raising questions about its implications for investors and traders.

Bitcoin Funding Rate Turns Negative 

Renowned market data provider Kaiko has revealed that Bitcoin’s funding rate dipped into negative territory just before the recent halving event on April 20. This marks the first time in 2024 that the funding rate has turned negative, indicating a possible shift in market dynamics. 

Funding rates for $BTC perps turned negative for the first time since late 2023 in the lead up to the halving. pic.twitter.com/MjiU4C1L5m

— Kaiko (@KaikoData) April 24, 2024

The halving, which reduced Bitcoin’s block reward from 6.25 to 3.125 BTC, has already begun to impact the cryptocurrency landscape.

Meanwhile, a negative funding rate suggests that short positions are paying long positions, potentially signaling increased bearish sentiment among traders. This trend was observed on April 18 when Bitcoin’s aggregated funding rate across major derivatives markets dropped to -0.0030. 

The last time Bitcoin’s funding rate entered negative territory was on Oct. 19, 2023, highlighting the significance of this recent development.

Resurgence of Bullish Sentiments

Despite the brief period of negative funding rates, Bitcoin’s sentiment has seen a resurgence following the halving event. The funding rate has since recovered, and aggregated open interest (OI) has increased from $15.55 billion to $17.18 billion. 

Additionally, the BTC Long/Short Ratio has risen to 1.46, indicating a shift towards bullish sentiment among market participants. On the other hand, Trader Oasis, an author at CryptoQuant, highlights that the declining funding rate bodes well for BTC. 

Macroeconomic Factors At Play

Analysts attribute the renewed bullish sentiment to broader macroeconomic factors, including global inflationary pressures and geopolitical uncertainties. With its finite supply and perceived role as a hedge against inflation, Bitcoin continues to attract investors seeking refuge from traditional market volatility. 

Moreover, increasing institutional adoption further validates Bitcoin’s status as a legitimate asset class.

Bitcoin’s Price Analysis

Despite recent fluctuations, Bitcoin’s price remains at $64,218, reflecting a 3.75% decline for the day. Its market capitalization stands at $1.26 trillion.

The post Top 3 Trending Altcoins for 2024: Chainlink (LINK), Solana (SOL), and Rollblock (RBLK) appeared first on Coinpedia Fintech News

With the crypto market having undergone a downtrend in the past seven days, the market is currently green, triggered by a Bitcoin price rally on April 8th, 2024, to trade at $72,000. Additionally, the most anticipated Bitcoin halving is also closing in, meaning investors are currently on the lookout for potential altcoin cryptos that can help rebalance their buy-and-hold portfolios. Their main focus is cheap assets, offering a higher growth potential in 2024.

This includes altcoins like Chainlink (LINK), Solana (SOL), and Rollblock (RBLK). These trending altcoins have managed to record impressive price action, with some even hitting new highs with the Bitcoin rally. Rollblock a new altcoin, having secured all necessary legal permissions and licenses for a lawful operation, will offer its investors a chance to enjoy 100x returns on investment—making it one of the best altcoins to invest in.

Chainlink (LINK) MVRV Ratio Massively Drops

In a volatile crypto world, Chainlink (LINK) seems to have captured the attention of analysts and traders alike with a recent plunge in the Market Value to Realized Value (MVRV) ratio. According to crypto analyst Ali Martinez, the dipping MVRV 30-day ratio for Chainlink coin offers a historic buying opportunity, promising an impressive return of around 50%. According to CoinMarketCap, the price of Chainlink is trading at around the $12.80 mark.

Ali Martinez also noted that at the moment, the LINK MVRV 30-day ratio stands at -17.54%, suggesting that this might be the right time to buy into the Chainlink coin dip. For people who are not familiar with the MVRV ratio, it’s a metric that’s used to assess an asset’s market value relative to the crypto’s realized value. If the rations significantly drop, it’s often an indication that the asset is normally undervalued and might present quite an attractive buying chance, as is the case with Chainlink.

Solana (SOL) Price on a Recovery Trajectory

Designed to facilitate the easy creation of decentralized apps, Solana (SOL) seems to be making huge waves within the altcoin market of 2024. Solana price, having peaked at $185 on April 8th, 2024, witnessed a 10% bounce within the past week. This high momentum soar was attributed to the bullish tailwinds from positive non-farm payroll data. Something that highly boosted the price of Solana and the associated risk assets upwards. Currently trading between $124.89 and $129.10 according to CoinMarketCap, the price of Solana might also undergo a price push with the incoming Bitcoin halving event.

Additionally, Solana coin market data highlights that different investors are betting on a further upside. Something that has been backed by market analysts who seem to foresee the price prediction of Solana rising over the $200 mark within the coming weeks. Despite the Solana price having hit the over $200 mark severally in March 2024, the altcoin failed to establish a reliable support level above its milestone territory.

Rollblock (RBLK): Emerging as a Top Contender in the Crypto Market

Amid all this, a new project seems to be captivating many investors within the altcoin market. This unique and outstanding Rollblock platform is set to be a game changer for the traditional online gaming ecosystem, as it will incorporate both blockchain technology and cryptos. With blockchain technology as its pillar, Rollblock intends to offer its users a rapid transaction system topped with low transaction fees.

Additionally, the token holders will have a chance to enjoy a revenue-sharing model, where they will get to enjoy a certain percentage of the casino’s daily revenue. This unique feature and its approach to its token burn mechanism outline its outstanding passive income capability as a platform.

Moreover, Rollblock also intends to bridge the gap between the highly valued gaming market which is predicted to have a valuation of around $682 billion by 2030. The platform’s tokenomics model is also designed to foster utility, encouraging player participation while guaranteeing long-term viability. Something that highlights Rollblock’s dedication to creating a reliable ecosystem that provides mutual benefits to all participants.

Currently at its stage one presale, where the RBLK token is going for just $0.01, Rollblock seems to be on the right trajectory to becoming the best altcoin of 2024. Analysts have also outlined their price prediction for Rollblock, with many of them foreseeing up to 100x price growth once RBLK is listed among the top crypto exchange platforms in Q3 of 2024.

Is the Rollblock Altcoin set to outshine Chainlink and Solana?

Chainlink and Solana are well-established altcoins with a stronger hold on the altcoin market. However, despite their resilience, Rollblock coin is also emerging as a strong competitor, which ranks it among the best altcoins in 2024.

Discover the Exciting Opportunities of the Rollblock (RBLK) Presale Today!

Website: https://presale.rollblock.io/ Socials: https://linktr.ee/rollblockcasino 

The post BTC Price Drop Pressures $60K, Will Bulls Return For Breakout? appeared first on Coinpedia Fintech News

The recovery rally that started last weekend in the crypto market remains short-lived, as the BTC price took a huge dip last night. The downfall comes with twists and turns in the misinterpreted relationship between Blackrock and HBAR. The first-ever zero inflow day for $IBIT and the looming 3-year jail time for CZ fuel the market fear. 

Despite Bitcoin Halving, turning the tide for a brief period, the bearish gears are turning again. So, with all the growing tensions in the market, the 3% drop in Bitcoin warns of another drop to $60,000 or even lower if the fear outgrows. 

As the market volatility grows, will Bitcoin make a comeback in May? Will the Bitcoin Price Prediction of $100,000 in 2024 come true? So, let’s have a closer look at the BTC price chart to analyze the upcoming trend. 

Bitcoin Price Performance

With the Bitcoin market cap down to $1.265 Trillion, a decline of 12% from the peak of $1.451 Trillion, the bears are gradually gaining control. Further, the 27% rise in trading volume bolsters the correction spree, warning a drop to $60,000.

Tradingview

As mentioned in our previous analyses, the BTC price action sustains a bullish flag, and ongoing correction marks a short dip within. Further, the bearish takeover creates an evening star for the $63,000 zone retest. 

With $156 Million in long liquidation market-wide, the sellers outshined last night, per Coinglass. 

The evening star delays the bullish crossover in the MACD and signal lines, reflecting a struggle in a trend reversal. Further, this delays the highly anticipated flag breakout rally. 

Currently, the BTC price trades at $64,297 and forms a Doji candle following the 3.25% drop last night. With a reflection of bearish exhaustion, the market could bounce back over the weekend. 

Will Bitcoin Dominance Breakout Lead To A New Bull Run?

Bitcoin dominance reflects the percentage of Bitcoin’s share in the overall crypto market over that of altcoins. With the Bitcoin ETFs at play, the dominance of BTC over altcoins is expected to increase in 2024. 

Tradingview

As per the logarithmic monthly chart, Bitcoin’s rising dominance is ready for a trendline breakout. However, it is a pivotal stand and could result in a bearish turnaround. Hence, this month’s dominance candle will play a crucial part in reflecting the upcoming Bitcoin price trend.

A breakout will bolster the $100,000 dream. Meanwhile, a reversal could put additional pressure on the $60,000 psychological mark. 

Will BTC Price Survive Above $60,000?

With a bullish reversal struggling to sustain momentum, the overnight drop puts a dent in the uptrend. However, the buyers are actively pushing for a breakout with the flag pattern sustaining and the strong demand at $60,000. 

With another drop in the crucial support, the recent correction brings another buying opportunity. As per the Fibonacci levels and the market-wide anticipation,  a breakout rally could ignite a bull run to the $100,000 mark, with minor pitstops at $75,000 and $88,000.

The post Baby DogeCoin Price Surges 15% With Zero-Fee Strategy appeared first on Coinpedia Fintech News

Baby DogeCoin (BABYDOGE), one of the top dog-themed meme coins that thrived from Elon Musk’s tweet, rallied over 15 percent in the past 24 hours despite the general crypto bearish sentiment. With a fully diluted valuation of about $882 million, the small-cap meme coin saw its daily average traded volume triple to around $17 million. 

What Influenced Baby Doge Coin Spike

The sudden spike in Baby DogeCoin was largely influenced by the overwhelming support of the new DAO proposal for 0 percent fees to transfer, buy, and sell on the BNB Chain. Remarkably, the DAO proposal received over 98.89 percent community support. As a result, BABYDOGE can now compete with other top-tier meme coins like Floki (FLOKI) and Solana-based projects in trading volume. 

Exciting Update! An overwhelming 98.89% of voters have chosen in support of 0% fees, potentially enhancing your interactions with our beloved #BabyDoge making our meme easier to interact with Exciting times ahead for the #BabyDogeArmyVote now below … https://t.co/qZKcvrllOg pic.twitter.com/6adhNuaAAW

— Baby Doge (@BabyDogeCoin) April 25, 2024

Over the past years, buying, selling, or transferring BABYDOGE has cost holders up to 10 percent tax, making the meme coin unattractive to small meme coin traders and whale traders.

“Lowering fees to 0% may make Baby Doge more accessible to a wider user base. A 0% fee may encourage more frequent usage and transactions. The proposal noted that a 0% fee structure positions Baby Doge as a more attractive option than other memes with higher transaction costs, potentially drawing in new user adoption and use cases,” the proposal noted. 

The Downside 

The overwhelming support of the new DAO proposal to lower transaction fees to zero means BABYDOGE will not be conducting its usual monthly burns. Additionally, the team announced that it can now tap on the unlocked tokens, amounting to $100 million worth of BABYDOGE, to increase the number of team members, among other expenses.

The $BABYDOGE price has been consolidating in a macro triangular pattern for more than two years. However, the $BABYDOGE price signaled a bullish season ahead after a breakout from a macro-falling logarithmic trend and retested the upper border of the triangle. 

The meme coin price rebounded in the last two weeks from the recent crypto correction. Furthermore, the weekly Relative Strength Index (RSI) rebounded on the 50 level for the first time.

The post Pushd E-Commerce to Disrupt Online Retail, Aiming to Outshine eBay with Support from Stellar and Uniswap Communities appeared first on Coinpedia Fintech News

In the constantly evolving crypto market, different coins witness a variety of activities around their communities. While technical analysis of Stellar suggests a possible increase in value in the near future and Uniswap sees an optimistic price movement, Pushd enters the crypto space with an innovative platform that revolutionizes the retail sector.

While traditional e-commerce platforms face different challenges, Pushd aims to solve all those challenges, making selling and buying more convenient for users. Meanwhile, Pushd e-commerce aims to disrupt online retail and outshine eBay with support from both Stellar and Uniswap communities.

Technical Analysis For Stellar

After a steady upward trend, Stellar was rejected at approximately $0.1365 versus the US dollar. As a result, Stellar’s price tested the $0.115 region and fell below the $0.12 support level. An upswing could happen if Stellar successfully breaks over the $0.12 resistance zone. Furthermore, once Stellar touches the daily high above the $0.114 resistance level, it is probably going to cross above the 9-day and 21-day moving averages. 

Stellar is currently trading at $0.1157, up more than 6% over the previous seven days. But after the most recent recovery, Stellar is probably going to climb closer to the channel’s upper edge to intensify the bullish momentum. However, Stellar may likely touch the resistance levels of $0.150, $0.160, and $0.170 to push the price higher if the bulls in the market start an upward trend.

Analyzing Uniswap’s Direction

If a whale’s recent behaviour is any indication, Uniswap may see a significant upswing in value in the upcoming weeks. For the first time, a whale reportedly removed his Uniswap holdings from Binance, according to Spot On Chain. There were 121,871 tokens in all, worth $954,000. The participant’s withdrawal of Uniswap tokens from the exchange suggested that they have no intention of selling them anytime soon. This was a hint for optimistic price action. 

A few weeks prior, Uniswap had a sharp decline following the public disclosure by the U.S. SEC that it may file a lawsuit against Uniswap Labs, the company responsible for the token’s development. Around the token, this news created FUD (Fear, Uncertainty, and Doubt). Aside from that, Uniswap’s cost dropped to $5.86. Nonetheless, the cryptocurrency’s value has grown by 7.37% during the past seven days, with a market value of $8.

Pushd E-Commerce to Disrupt Online Retail

Pushd is poised to revolutionize the online marketplace by addressing the common challenges sellers and buyers face on platforms like eBay and Amazon. Additionally, buyers are subjected to rigorous Know Your Customer (KYC) processes, and sellers may experience delays in receiving funds. PayPal holds payments for up to 90 days post-transaction. Users can buy, sell, and auction goods instantly using crypto without undergoing KYC checks. 

Unlike traditional marketplaces, Pushd boasts considerably lower fees, with instant deposits and withdrawals eliminating the need to wait for funds for several days. Presale investors not only benefit from the potential for significant gains but also earn a revenue share of platform fees proportional to their token holdings. Pushd tokens, now in Stage 6 of their presale and priced attractively at $0.144 per token, offer a compelling investment opportunity.

Find out more about the Pushd presale by visiting the website here

The post TRON & Stellar Investors Find Refuge in Raffle Coin Amid Solana’s 23% Decline, Eyeing 25X Gains appeared first on Coinpedia Fintech News

The recent decline in the price of Solana has caused some investors to be jittery about the fate of altcoins amid market volatility. Thus, TRON and Stellar owners are trying to get ahead of the market by seeking new projects with a high-profit potential to keep the value of their assets intact. It is no surprise that the Raffle Coin project, with its 25X profit potential, is one of the projects being considered.

TRON: Trading Volume Down As Investors Lose Patience 

TRON market statistics are unfavorable, and they project a long-term downward trend. Its price fell by 5.7% in the last month, and the downward trend continues this week, where it has already lost 0.1% of its value.

Analysts believe the coin is going through market correction and will stabilize in the coming weeks, but the trading volume tells a different story.

TRON’s 24-hour trading volume is down 17%, meaning investors have lost confidence in it and are dumping it to capitalize on profitable crypto projects. 

Stellar Price Appreciates But Still A Long Way to $1

Stellar has had its fair share of market volatility. The platform recently launched an upgrade on its leading network. The update is expected to boost the platform’s growth and instill confidence in owners.

Although Stellar’s monthly chart still shows a 12% price fall, its weekly chart shows an upward trend at an 8.7% increase. Investors hope this trend will continue and break the $1 barrier.

Stellar is currently trading at $0.1171. Due to its low trading volume, some analysts predict that the price will stay within that range for some time, making the $1 goal still far from reality.

Raffle Coin Offers 25X Gains and Refuge From Harsh Market Conditions

Raffle Coin is a decentralized gaming platform. This platform promises an exciting online gaming experience and cool rewards for users. Users who play these games have the chance to win prizes like clothes, cars, vacation vouchers, cryptocurrencies, and more.

New users can sign up on the Raffle Coin website with only their username and email address. The platform guarantees anonymity and secure transactions. It also provides a swap service, where you can exchange your tokens for other crypto assets with 0% commission charges.

This platform is an early-stage crypto project. It has a high growth potential and is an excellent opportunity for investors to protect their assets from volatility while making more profits. 

Presale investors in this project will earn extra money from the revenue generated from the platform. They will also get voting rights in planning, policy, and platform development. Raffle Coin currently trades at $0.020.

Learn more about this blue-chip crypto with the potential for 25X gains on the website.

The post NEAR Protocol’s Robust Rise Complemented by Koala Coin’s (KLC) Steady Debut, as Fantom Continues to Thrive appeared first on Coinpedia Fintech News

Much like the gold rushes of yesteryears, today’s cryptocurrency market is a hotbed of opportunities. Amidst this fervour, the stage one presale of Koala Coin (KLC), currently priced at $0.014, shines with potential and ignites FOMO among discerning investors.

Embracing the Whimsy of Koala Coin (KLC): A Unique Crypto Journey

Koala Coin (KLC) is not just another token in the vast crypto space, but a symbol of joy and unity. It emphasizes community and meme culture by leveraging a secure blockchain for seamless transactions. Offering governance rights, rewarding staking and a rich meme culture, Koala Coin (KLC) promises a mix of entertainment and financial autonomy, encouraging investors to join its rising trajectory.

Beyond a mere digital currency, Koala Coin (KLC) welcomes users into an ecosystem where finance meets fun. Its commitment to building a global community that is bound by laughter and dreams, is its unique appeal. Holders of Koala Coin (KLC) are part of a fellowship, guiding the future of the coin in a landscape ripe with possibilities. This sense of belonging stirs an irresistible FOMO as Koala Coin (KLC) charts an unparalleled path in the crypto world.

Harnessing the Power of Innovation: NEAR Protocol (NEAR) in Focus

NEAR Protocol (NEAR) stands as a state-of-the-art blockchain platform for decentralized applications (dApps), known for its efficiency and user-friendliness. The sharding technology of NEAR Protocol (NEAR) addresses major challenges in blockchain scalability and accessibility, making it attractive to developers and users seeking reliable decentralized solutions.

With its current price of $7.55, the recent surge of NEAR Protocol (NEAR) includes a weekly increase of 17.85% and a monthly rise of 24.37%. These figures underscore the significant market position of NEAR Protocol (NEAR), complementing the promising start of Koala Coin (KLC) and the steady growth of Fantom (FTM).

Fantom (FTM): A Beacon of Scalability and Efficiency

Fantom (FTM) stands out as a scalable and secure smart-contract platform, capable of bypassing older blockchain systems’ limitations. The Lachesis consensus mechanism of Fantom (FTM) ensures fast and low-cost transactions, pivotal for decentralized application development and digital asset creation.

With a current price of $0.959, Fantom (FTM) shows consistent performance with a weekly increase of 3.94% and a monthly growth of 20.06%. The upward trajectory of Fantom (FTM) reinforces its market stronghold, alongside the growth of NEAR Protocol (NEAR) and the debut of Koala Coin (KLC), signalling a healthy ecosystem ripe for innovation and growth.

Don’t Miss Out: The Unstoppable Ascent of Koala Coin (KLC)

Koala Coin (KLC) stands out by transcending the usual crypto offerings with a vibrant community at its heart and a unique blend of fun and finance. As NEAR Protocol (NEAR) and Fantom (FTM) flourish in their domains, Koala Coin (KLC) advances with an irresistibly charming and unifying force. It offers investors not just gains but a journey. With memes and finance converging, Koala Coin (KLC) creates a path to success filled with laughter. This is your moment, to embark on the Koala Coin (KLC) adventure, where the ordinary is surpassed and partakes in a movement beyond currency.

Check out the coolest meme project around at the official website here

The post Ripple/XRP & TRON Supporters Globally Attracted to Fezoo Exchange Presale Amid Market Instability appeared first on Coinpedia Fintech News

Legal battles and regulatory scrutiny aside, the all-new Fezoo Exchange presale has drawn the attention of Ripple and TRON supporters worldwide. One is a pro-XRP lawyer, John Deaton, who is battling for Coinbase customers, and the other is TRON founder Justin Sun, who is caught up in an SEC lawsuit.

Fezoo, on the other hand, provides a place for stability amid the turbulence that has characterized the markets through its decentralized architecture and vital security details. Fezoo is an exceptional proposition with an attractive presale price and a comprehensive feature set in this ever-evolving crypto landscape.

Ripple: Legal Battles and Political Ambitions

Pro-XRP lawyer John Deaton has entered the scene in the ongoing legal drama as the legal representation for 4,701 Coinbase customers fighting against the United States Securities and Exchange Commission. Deaton’s advocacy goes wider, focused on the emphasis of the human factor in the need to protect individuals seeking financial independence rather than just on crypto. His actions come amidst a Coinbase interlocutory appeal following a court’s ruling denying its motion to dismiss the SEC lawsuit. 

That puts Deaton at the center of several legal battles related to crypto, including the SEC lawsuit against Ripple Labs, further asserting his involvement in defending the interests of the crypto community. Moreover, his dabbling in politics with a senatorial seat opposing crypto-skeptic Senator Elizabeth Warren further brings to the fore his zeal for fighting for policies that are accommodating towards crypto.

TRON: SEC Lawsuit Intensifies

The founder of TRON, Justin Sun, faces an escalation in the U.S. Securities and Exchange Commission’s legal chase over the allegations of jurisdiction because of his extensive travels within the United States by any associated entity. According to the SEC, the amended complaint alleges that the many U.S. trips Sun took purportedly on behalf of the Tron Foundation and others were a basis for jurisdiction. This again follows the allegations of selling unregistered securities, this time through TRON and BitTorrent tokens, and using manipulative trading practices.

While Sun has sought to fend off the lawsuit by relying on predominantly foreign conduct, the SEC does not remove its focus on promoting and selling tokens to U.S. consumers and investors. The legal dispute between Sun and the SEC underlines the regulatory challenges cryptocurrency projects are trying to face in a global landscape.

Fezoo Exchange: A Haven Amidst Market Turbulence

With the market fluctuating, the presale of Fezoo has been the talk of the crypto-verse. Many investors are joining in, especially those looking for stability and innovation. Fezoo is a decentralized crypto trading exchange platform that provides investors with refuge from the usual storms of financial markets. This presale is tempting as it offers a decentralized architecture that removes intermediaries and gives users control of their assets. 

At just $0.013 per token, Fezoo offers a great entry for any smart investor with solid security and powerful features. Their commitment to security, including full audits and securing the investor’s part, reinforces credibility and trust. All this comes at a time when the presale of Fezoo from all corners of the world is a stronghold of stability and an opportunity amidst the chaos that engulfs the crypto space.

Find out more about the Fezoo (FEZ) presale by visiting the website here.

The post BlackRock’s Non-Involvement Revelation and Its Effect on Hedera’s HBAR Token appeared first on Coinpedia Fintech News

Archax and The HBAR Foundation have introduced tokenized BlackRock ICS US Treasury money market fund offerings. It is meant to expand its MMF lineup on Hedera and Ethereum blockchains. This step aims to provide institutional stability and yield in the current interest-rate environment.

CEO Graham Rodford talks about offering a variety of MMFs, while Ownera’s Ami Ben David mentions spreading them through their FinP2P network. Shayne Higdon from The HBAR Foundation sees this as a big vote of confidence in Hedera’s system.

Hedera’s HBAR token doubled in value after the announcement that BlackRock’s U.S. Treasury money market fund had been tokenized on Hedera’s blockchain. However, the token fell by 25% when it became clear that BlackRock wasn’t directly involved in the tokenization. BlackRock confirmed it had no commercial relationship with Hedera.

BlackRock’s Clarification on Hedera Relationship

Following the tokenization, Blackrock released a statement that it has “no commercial relationship” with Hedera Hashgraph (HBAR) and denied choosing Hedera to tokenize its funds. This declaration has caused a major reformation in the token price of HBAR.

It followed a surge of over 100%. Some crypto critics claim that BlackRock is directly involved in this tokenization effort. Yet, a spokesperson of BlackRock issued an official statement that this is a false allegation. In this regard, he addressed myths about BlackRock and why the firm had nothing to do with the tokenization process.

Read more: HBAR’s BlackRock Rollercoaster: 100% Surge, 47% Plunge, What’s Next?

HBAR’s Rollercoaster: Surge on BlackRock Confusion, 32.8% Drop Despite High Trading

HBAR’s price initially surged due to confusion over BlackRock’s involvement in tokenizing a fund. Later, it adjusted when it was clarified that BlackRock was not directly involved. Despite this, HBAR remained up 31.3% with trading volume up 2,657%. Hence, it was benefiting from increased trading.

However, as of the latest update, the HBAR price dropped 32.8% in the past 24 hours, from $0.176 to $0.118. Archax CEO Graham Rodford clarified the situation. He stated that while Archax chose to tokenize shares of BlackRock’s money market fund on Hedera, BlackRock was unaware of this decision and not actively involved. He emphasized that Archax has been leading the tokenization project.

Hence, BlackRock’s role was only limited to being informed and providing feedback on the project.

Therefore, Archax and HBAR Foundation’s link-up with BlackRock must have contributed to HBAR’s value at the beginning. However, eventually, it led to a massive price drop due to misconceptions. This exposes the volatile nature of the crypto market. In fact, it also highlights the importance of clear communication in blockchain initiatives.

Read more: Hedera Price Prediction 2024, 2025-2030: Will HBAR Price Rise To $1?

The post Diamante Blockchain Invites Developers to Leverage Its Protocol, Diamante Net, for dApp Innovation appeared first on Coinpedia Fintech News

Abu Dhabi, UAE, April 24, 2024 – The pioneering US-based AI and blockchain entity, Diamante Blockchain, invites developers and tech enthusiasts to utilize their proprietary blockchain, Diamante Net to build innovative dApps that are sustainable and scalable. As a part of the ongoing development of the ecosystem, the company opens up its peer-to-peer network to developers and tech-savvy individuals from across the globe.

Diamante Net is a 4th gen, layer 1 open-source blockchain protocol, enabling instant transactions with super speed, enhanced transparency and security. Its robust consensus mechanism results in reduced latency and low transaction fees. The Diamante network offers a hybrid ecosystem for developers to build use cases for virtual banking, digital identity, supply chain management, CBDC solutions, metaverse applications, and so on.

“We invite developers from across the globe to join our ecosystem and leverage the network’s features to build decentralized applications that solve real-world challenges,” said Arijit Biswas, CTO of Diamante Blockchain. “This is a unique opportunity for developers to contribute to the growth of the Diamante ecosystem and also align their ambition with our mission utilizing our one-of-a-kind protocol,” he added.

Diamante Blockchain provides tools and resources that help develop distinct dApps that cater to the needs of various industries. “We encourage developers to explore the wide range of Diamante resources to develop dApps and drive forward the next wave of innovation,” said Chirag Jetani, Co-founder and COO of Diamante Blockchain. “The decentralization and interoperability features of our network enable developers to easily integrate their dApps with other blockchains as well. Above all, our network is developer-friendly and offers comprehensive documentation that ensures a smooth development process,” he added. Diamante network’s seamless communication and collaborative capability make it stand at the forefront of the technology revolution. Thus, the Diamante network is paving the way for a new era of dApp innovation while shaping the future of decentralized technologies.

About Diamante Blockchain

Diamante Blockchain is committed to innovating with its protocol, Diamante Net, aiming to drive blockchain adoption globally. They focus on creating an inclusive, open-source environment that empowers developers and users alike, facilitating value creation and efficiency across borders. With a strong belief in community and collaboration, Diamante Blockchain strives to enhance the security and scalability of blockchain infrastructure, ensuring a sustainable and equitable digital future for all.

For developers interested in exploring Diamante Net, visit https://developers.diamcircle.io/#/ or please contact:

Name: Lalit ChoudharyTitle: Chief Marketing OfficerEmail: lalit@diamanteblockchain.comMobile: +91 9833103731Telegram: @oldmonnk86 

Website URL: www.diamanteblockchain.com | www.diamcircle.com | www.paycircle.io

The post FTX Co-Founder Sam Bankman-Fried Strikes Deal with Investors, Escapes Civil Liability! appeared first on Coinpedia Fintech News

Sam Bankman-Fried, the founder of the now-defunct cryptocurrency exchange FTX, has settled with a group of FTX customers who filed a class-action lawsuit against him. FTX Co-Founder Sam Bankman-Fried Strikes Deal with Investors, Escapes Civil Liability

As per court documents filed in Miami, Bankman-Fried has agreed to assist the plaintiffs’ attorneys in recovering funds from celebrity promoters and venture capital firms associated with FTX. In return, the customers have agreed to drop their civil lawsuit against him.

Settlement Agreement Reached

Under the terms of the settlement agreement, Bankman-Fried has agreed to assist the plaintiffs’ attorneys in their efforts to recover funds from celebrity promoters and venture capital firms that endorsed FTX. 

The agreement, which is subject to judicial approval, requires Bankman-Fried to provide testimony, documents, and financial information to support the plaintiffs’ litigation efforts. This includes disclosing details of his assets and FTX’s investments in other ventures, such as the AI startup Anthropic. 

If approved, the settlement will release Bankman-Fried from current and future civil liability related to FTX’s collapse.

Bankman-Fried’s cooperation comes amid his conviction for fraud and subsequent sentencing to 25 years in prison. Despite appealing his conviction, he has chosen to collaborate with the plaintiffs’ attorneys to resolve the legal proceedings.

SBF’s Commitment To Cooperation

In a recent statement Bankman-Fried’s spokesperson Mark Botnick, said his client is focused on making things right. Since FTX collapsed, Bankman-Fried has been working hard to give back what’s owed to customers and make sure they’re compensated fairly.

The lawyers representing the customers agreed that it’s tough to go after Bankman-Fried legally. They said his cooperation is really important for the ongoing legal process.

Other FTX Executives Agree for Settlement Too

On the other hand, former FTX executives, including Gary Wang, Caroline Ellison, and Nishad Singh who testified against Bankman-Fried are also seen settling with investors and are providing information to support the plaintiffs’ case.

Statement of U.S. Attorney Damian Williams on U.S. v. Samuel Bankman-Fried, Caroline Ellison, and Gary Wang pic.twitter.com/u1y4cs3Koz

— US Attorney SDNY (@SDNYnews) December 22, 2022

However, the settlement leaves high-profile celebrities, sports stars, and social media influencers who promoted FTX as the remaining defendants. This group could face legal scrutiny for their roles in endorsing the exchange to investors and customers.

While, Bankman-Fried is currently in custody in New York. He plans to appeal both his conviction and the punishment he got.

The post DogeMob Expands Ecosystem with Game Development, Staking, Exchange Listings, and Enhanced Governance appeared first on Coinpedia Fintech News

DogeMob, a prominent player in the meme coin sector, today announced several key developments and updates that underscore its evolution from a meme-driven concept to a multi-faceted crypto platform. With a range of new features and significant community growth, DogeMob is set to enhance user engagement and utility within its ecosystem.

DogeMob has recently expanded its presence on global cryptocurrency exchanges. Following its initial listings, the platform is now actively traded on BitMart and MEXC. This expansion facilitates greater accessibility and liquidity for the $DOGEMOB token, broadening its investor base and reinforcing its market presence.

In line with its commitment to enhancing token utility, DogeMob is nearing the completion of its much-anticipated web3 game. This development is expected to introduce new functionalities for the $DOGEMOB token, integrating entertainment with transactional utility, thus enriching the user experience and engagement across its platform.

Further empowering its community, DogeMob boasts a robust governance model where token holders play a pivotal role in steering the project’s direction. Through its on-chain voting system, holders can submit proposals and vote on various aspects of the project’s development, ensuring transparency and inclusivity in its growth trajectory.

Adding to its user-centric approach, DogeMob offers a “stake and earn” program, allowing token holders to earn passive income with the flexibility to withdraw their stake at any time. This feature underscores DogeMob’s commitment to providing value and autonomy to its community.

Financially, DogeMob has demonstrated substantial market activity, with over a million dollars in aggregated daily trading volume across centralized and decentralized exchanges. Moreover, the platform’s market capitalization has grown to exceed 3 million dollars, a testament to its growing acceptance and investor confidence.

DogeMob is also verified on major crypto aggregators CoinMarketCap and CoinGecko, which offers users transparency and real-time data to make informed decisions. These listings provide credibility and enhance visibility in the competitive crypto space.

Underpinning its technological foundation, DogeMob’s smart contract has been fully audited, and viewable here, and the platform maintains rigorous standards with a comprehensive KYC process, ensuring security and compliance. Additionally, DogeMob operates with a 0% buy and sell tax policy, enhancing its attractiveness to potential investors looking for accessible crypto options.

The community around DogeMob has seen exponential growth, now boasting over 11,000 members in its Telegram group. This vibrant community is actively engaged in discussions about market trends, project developments, and the broader meme coin culture, contributing to a dynamic ecosystem.

In 2024, DogeMob is set to amplify its platform with a series of strategic expansions and community-driven initiatives. The first quarter will see the launch of the $DOGEMOB token on additional exchanges, enhancing its liquidity and market presence. Throughout the year, DogeMob will focus on increasing community engagement through social media campaigns, AMA sessions, and partnerships with key influencers in the meme space. 

The latter half of the year promises exciting developments, including the release of community-inspired meme content, the introduction of DogeMob-themed NFTs, and interactive meme-based gaming experiences, further solidifying DogeMob’s position as a pioneering force in the meme coin ecosystem.

About DogeMob

DogeMob is a leading meme coin platform that combines the playful culture of memes with serious cryptocurrency innovation. With a fixed supply of one billion tokens, DogeMob is designed to provide both stability and excitement in the volatile altcoin market. The platform’s commitment to community-driven growth, comprehensive governance, and innovative crypto solutions continues to position it as a standout project in the blockchain space. 

For more information, visit DogeMob’s website, and join the community on Telegram and X.

Media Contact:Danny AritiDogeMobdanny@dogemob.comSydney, Australia

The post 6 Best Bitcoin & Crypto Cloud Mining Sites in 2024 – Daily Payouts appeared first on Coinpedia Fintech News

In today’s digital age, cryptocurrencies have revolutionized the financial landscape, offering lucrative opportunities for investors and enthusiasts alike. Cloud mining emerges as a game-changer in the world of cryptocurrency mining, offering individuals the chance to tap into the potential profitability of mining without the hassle of hardware investment and maintenance costs. By leveraging cloud mining platforms, users can seamlessly participate in cryptocurrency mining with minimal technical expertise, allowing for greater accessibility and convenience. 

Explore the top 6 free Bitcoin and crypto cloud mining platforms of 2024 and start your path to making money easily in the dynamic world of digital currencies.

1.ARKMining

2.Ecos

3.Hashing24

4.Crypto Universe

5.StormGain

6.Bitdeer

1.ARKMining

ARKMining is a leading cloud mining company that has been providing trusted services since 2017. It provides services in more than 176 countries and has more than 650,000 active users worldwide. They are committed to providing users with a safe and comfortable cloud mining experience.

Here are the advantages of the platform:

Instant $50 bonus upon sign-up.

High profitability levels with daily payouts.

No additional service or administrative fees.

Ability to mine over 6+ other currencies.

Uses McAfee® and Cloudflare® security measures.

Supported by a 100% uptime guarantee and exceptional 24/7 technical support.

An exceptional aspect of ARKMining is its provision of completely free crypto-mining services. Users can engage in Bitcoin mining without making any initial investment, making it an attractive option for those keen on exploring the world of cryptocurrencies without financial commitments. 

ARKMining has advanced algorithms that guarantee high-speed mining and efficiency, ensuring users can maximize their earnings without encountering technical hurdles.

The registration process with ARKMining is straightforward and hassle-free. Users just have to provide their email address and create a password to get started. Once registered, users can initiate crypto mining activities immediately, accessing the platform’s cloud mining packages tailored to suit different investment preferences.

ARKMining offers a range of cloud mining packages, including options such as $50, $200, $600, and $3,600. Each package has its unique return on investment (ROI) and contract term, allowing users to choose the best option with their investment goals and risk tolerance. With daily payouts assured, users can anticipate receiving regular returns on their investments, regardless of the duration of their investment holding period.

Here is the overview of their contract structure:

Contract price Contract terms Fixed return Daily rate $50 1 Day $50+$1 2% $200 1 Days $200+$5 2.5% $600 3 Days $600+$29.70 1.65% $1200 5 Days $1200+$108.00 1.8% $3600 6 Days $3600+$410.40 1.9%

As the cryptocurrency market grows, the value of mining equipment rises, offering users additional profit opportunities. ARKMining’s user-friendly website and intuitive interface make it easy for users to navigate and explore various investment options.

With a range of plans featuring low investments and no hidden fees, ARKMining empowers users to participate in cryptocurrency mining easily. Moreover, the platform offers numerous cryptocurrency affiliate programs, allowing customers to earn supplemental income effortlessly.

For additional information on ARKMining, please visit their website at: https://arkmining.com

2.Ecos

Ecos started in 2017, being one of the first cloud mining services with legal status. Over 500,000 users now trust it for mining without needing their own equipment. New users get access to different mining contracts and investing tools and can easily take out their earnings.

Ecos offers features like live tracking, affordable mining, automatically reinvesting coins, and daily customer support. Since 2017, it has supported popular coins like Bitcoin, Ethereum, and more. You can start with just $99 and get your earnings every day with a low risk of fraud.

It’s good because it’s easy to use, trusted, has no hidden fees, and offers many tradable assets. But it doesn’t support all digital currencies or work with trading bots.

3.Hashing24

Hashing24 positions itself as one of the pioneering cloud mining service providers, tracing its roots back to 2012. Offering users the opportunity to engage in cryptocurrency mining without the need for costly hardware or specialized technical skills, Hashing24 aims to democratize access to this lucrative sector. However, a closer examination of its features, potential benefits, and drawbacks is essential before committing to the platform.

On the positive side, Hashing24’s purported longevity in the industry and user-friendly interface are cited as potential advantages. Nevertheless, the lack of transparency surrounding its mining technology and the potential for unrealistic profitability claims raise significant red flags. As with any investment in the cryptocurrency space, conducting thorough research and exercising caution is imperative to mitigate the risk of falling victim to scams or misleading claims.

While Hashing24 boasts a long history in the cloud mining industry, its lack of transparency regarding the specific mining technology it uses raises concerns about its operations’ legitimacy and efficiency. Despite this limitation, the platform offers a variety of cloud mining contracts for different cryptocurrencies, accompanied by a user-friendly interface designed to cater to individuals with varying levels of technical expertise. 

4.Crypto Universe

Crypto Universe offers a comprehensive suite of services, including cloud mining and a peer-to-peer (P2P) Bitcoin marketplace. The platform claims to streamline Bitcoin transactions and provide cloud mining contracts for users seeking to mine Bitcoin without the hassle of hardware and technical expertise. However, several considerations must be considered before engaging with the platform.

On the positive side, Crypto Universe’s P2P marketplace could offer convenience and faster transaction speeds than traditional exchanges. Escrow services for transactions also aim to ensure security for buyers and sellers. Cloud mining contracts present an attractive option for those interested in Bitcoin mining without the upfront investment in hardware.

Yet, there are significant red flags to consider. Crypto Universe’s lack of transparency regarding its location, team, and operational details raises concerns about accountability and legitimacy. Unrealistic profit guarantees associated with cloud mining contracts are common in the industry, emphasizing the importance of thorough research before investing. The platform’s emphasis on P2P transactions may also divert attention from potential shortcomings in its cloud mining services.

5.StormGain

StormGain, established in 2019, is a comprehensive platform catering to cryptocurrency enthusiasts, offering a range of features, including margin trading and a unique “cloud mining” service. However, it’s essential to recognize that StormGain’s “cloud mining” concept differs significantly from the traditional understanding of the term. Here’s a breakdown of StormGain’s features, potential benefits, and drawbacks to determine its user suitability.

StormGain’s “cloud mining” service does not involve renting computational power or engaging in actual mining activities. Instead, it operates as an interest reward system on deposited cryptocurrency holdings. While the platform offers tiered interest rates based on the amount of cryptocurrency deposited, these rates may be substantially lower than traditional cloud mining platforms promise, which often exaggerates potential returns.

In addition to its “cloud mining” feature, StormGain provides a range of trading functionalities, including margin trading with leverage, multicurrency support for various cryptocurrencies, and trading pairs with fiat currencies like USD and EUR. The platform also offers built-in charting tools and technical indicators to assist users in analyzing market trends and making informed trading decisions.

StormGain incentivizes users with deposit bonuses across various tiers and operates a loyalty program that may offer additional benefits, such as lower trading fees, to frequent users. However, users should be mindful of these bonuses’ withdrawal restrictions or limitations.

Despite its user-friendly interface and diverse trading features, StormGain’s “cloud mining” service may be misleading for some users, as it does not offer traditional cloud mining functionality. Moreover, given its primary focus on cryptocurrency trading, particularly margin trading, StormGain carries inherent risks that users should be cautious of. Additionally, limited transparency regarding StormGain’s ownership and operational details may raise concerns, underscoring the importance of thorough research before engaging with the platform.

6.Bitdeer

Bitdeer presents itself as a transparent and user-friendly cloud mining platform established in 2018. Cloud mining offers an avenue for users to engage in cryptocurrency mining without the need for expensive hardware or specialized technical knowledge. Let’s explore the features, potential benefits, and drawbacks of Bitdeer to help you determine whether it aligns with your investment objectives.

Founded in 2018, Bitdeer operates on a “hash power rental” model, allowing users to lease computational power from its mining facilities to mine various cryptocurrencies. The platform emphasizes transparency, claiming to utilize self-owned, state-of-the-art mining facilities powered by renewable energy sources. Additionally, Bitdeer provides transparency reports detailing its mining pool distribution and hashrate to instill trust and confidence among users.

Bitdeer offers a range of cloud mining contracts with different durations and cryptocurrencies, catering to diverse investment preferences. Users can invest with varying minimum amounts, making the platform accessible to both novice and experienced miners. 

The platform claims to provide daily settlements on mining rewards, appealing to users seeking more frequent payouts, although it’s essential to verify this claim with the platform’s official documentation. Furthermore, Bitdeer offers a real-time monitoring dashboard, allowing users to track their mining activity, including hash rate, earnings, and contract details.

Among the potential advantages of Bitdeer is its transparency regarding mining facilities, fee structure, and hash rate reports, providing users with confidence in the platform. The flexibility of investment options, including contract durations, minimum investment amounts, and supported cryptocurrencies, caters to a wide range of users. Additionally, the profit-switching feature, which automatically switches between the most profitable cryptocurrencies, has the potential to maximize earnings.

The post Bitcoin Halving 2028: 5 Crucial Trends and Predictions to Watch; Bitwise Report appeared first on Coinpedia Fintech News

As Bitcoin miners adapt to reduced rewards post-halving, experts like Bitwise’s Chief Investment Officer, Matt Hougan, offer insights into the future. With the next halving projected for 2028, Hougan has outlined five key predictions, shedding light on Bitcoin’s trajectory.

Declining Volatility

Hougan anticipates a 50% reduction in Bitcoin’s volatility, attributing it to the entry of institutional investors via ETFs. The CIO believes that this increased institutional participation is expected to bring more stability by rebalancing portfolios and making steady investments, thus dampening price swings.

He notes, “ETFs bring new types of investors into the Bitcoin market—financial advisors, family offices, institutions, etc. These investors act differently than the retail investors who have dominated Bitcoin to this point.” 

Increased Portfolio Allocations

Expectations suggest that Bitcoin allocations in target-date portfolios could reach 5% or more. Hougan states, “As a result, I suspect we’ll see the ‘typical’ portfolio allocation rise to the point where it is considered normal to have 5% or more of your portfolio in Bitcoin.” As such, the growing acceptance can lead to more widespread adoption across various investment platforms.

ETF Flows Surpass $200 Billion

Hougan predicts, “In the U.S., Bitcoin ETFs have pulled in ~$12.5 billion in net flows since launching three months ago. That makes them the fastest-growing new ETF category of all time.”

Bitcoin ETFs have already garnered significant inflows, but Hougan foresees this trend accelerating.  With more investors discovering ETFs and financial institutions joining the trend, substantial long-term demand is anticipated.

Central Banks Embrace Bitcoin

Hougan speculates that central banks, attracted by Bitcoin’s properties as non-debt money and its utility in a geopolitically tense world, may start allocating reserves to Bitcoin. He suggests that central banks could view Bitcoin as a hedge against geopolitical risks, indicating a significant shift in global finance.

Bitcoin Price Surpasses $250k

With Bitcoin’s growing mainstream acceptance and institutional backing, Hougan predicts a price surge, potentially exceeding $250,000 per Bitcoin by 2028. He believes that the asset will continue to move further into the mainstream as more institutions and investors embrace it. 

“With the ETFs launched and gathering assets—and major Wall Street firms lining up behind Bitcoin—I suspect the asset will continue to move further into the mainstream,” Hougan states.

What can be Bitcoin’s Price?

Industry experts echo Hougan’s sentiments, anticipating substantial price increases driven by institutional adoption and broader acceptance. 

Pav Hundal predicts a 100% price increase, while Henrik Andersson envisions prices reaching $200,000 before 2028. This bullish outlook is supported by the ongoing institutional interest and growing market presence.

As Bitcoin miners navigate reduced rewards, predictions for the next halving offer valuable insights into Bitcoin’s future trajectory. 

With institutional interest on the rise and Bitcoin’s role evolving, the next halving could mark a significant milestone in Bitcoin’s journey toward mainstream acceptance and adoption.

The post Why is the Crypto Market Down Today? appeared first on Coinpedia Fintech News

The total crypto market cap dropped around 4 percent in the last 24 hours to about $2.48 trillion, led by Bitcoin (BTC). According to the latest crypto market data, Bitcoin exchanged around $64,253 on Thursday during the early Asian session after experiencing a significant resistance level of around $67k. 

Following the increased crypto volatility, more than $212 million was liquidated, mostly involving long-term traders. 

Top Reasons the Crypto Dropped Today

As a globally traded industry, the cryptocurrency market is heavily influenced by major geopolitical factors and other market issues besides the speculative aspect. 

General Market Outlook

On Wednesday, a popular crypto analyst, Ali Martinez, pointed out that the TD Sequential indicator had flashed a Bitcoin sell signal in the 12-hour time frame. As a result, the crypto analyst cautioned traders to remain wary after Bitcoin price dropped below the support level of around $65,500. 

Furthermore, Bitcoin whales have slowed the accumulation pace despite the recent halving event. Perhaps investors are waiting for companies to announce their first quarter 2024 earnings. 

Declined Spot BTC ETF Inflows 

On April 24, 2024, the net flow of US-based spot Bitcoin ETFs was negative $121 million after BlackRock’s iShares Bitcoin Trust (IBIT) registered a zero flow for the first time since inception. Meanwhile, Grayscale’s GBTC registered a cash outflow of about $130.4 million on Thursday.

BlackRock Denies Tokenization on Hedera

On Wednesday, heavy speculation on BlackRock tapping Hedera (HBAR) to tokenize its funds resulted in a huge spike of RWA-based digital assets.  However, BlackRock later confirmed that it has no commercial relationship with Hedera and does not intend to tokenize its funds on the network.

As a result, HBAR price dipped as much as 35 percent in the past 24 hours to trade around $0.1135 on Thursday.

US Economic Uncertainty 

US President Joe Jiden has proposed a 44.6 percent tax on capital gains, impacting crypto investments worth more than $400k. Ahead of the FOMC statement and federal funds rate next week, investors are speculating on possible interest rate cuts’ delay later this year.

The post North Korean Lazarus Group Targets LinkedIn In yet Another Crypto-malware Campaign appeared first on Coinpedia Fintech News

Lazarus, the world-famous North Korean hacker group, has brought their cyber espionage to cryptocurrency firms with their attempt to attack through sophisticated malware on Linkedin. This fact came into the open after an alert from SlowMist blockchain security analytics firm stating that Lazarus group might pose as blockchain developers searching for crypto-sector jobs.

As narrated in the SlowMist’s report, the hacker’s strategy is intricate. They trick vulnerable LinkedIn users into sending in personal information under the guise of job inquisition. The moment contact is established, the intruders make the victims download the code and turn it over to them for a possible code repair process. 

However, the code segments presented as innocent by Lazarus, show sophisticated capabilities of stealing money and sensitive information from the targets. The persistent attack defines a periodic function that is triggered at a fixed time: steal everything, which attempts to steal as much data as possible from the user’s device and upload it to a server controlled by the attacker.

Lazarus is known to use the latest emerging tactics

Lazarus has continued to deploy this method in its schedule, matching its previous schemes, for instance, when a similar trap was set as fake meta recruiters in December 2023. The victims received tasks such as coding challenges which were avenues to malware able to provide the hackers remote access to the victim’s network.

Lazarus Group’s wicked actions make up far more than just social engineering via LinkedIn. The various crypto heists performed by the group show that it has accumulated more than $3 billion in stolen cryptocurrencies since its inception. Well-known instances have been the $37 million theft from crypto payment platform CoinPaid and the very big $625 million hack of Ronin Bridge.

Cyber thefts reportedly fund up to 40% of WMD programs

Lazarus uses crypto mixing services to launder the stolen funds and move them back into North Korea, where reportedly it is used to advance the army.

The international security councils, in this regard, recognize the connection between the operations of Lazarus Group and North Korea’s unauthorized weapons of mass destruction (WMD) programs. A report from a U.N. panel of experts published last month revealed that an estimated 40% of North Korea’s weapons of mass destruction (WMD) were funded through illicit cyber means mostly stolen crypto.

The U.S. and the allies, in strong diplomatic moves, have taken in the broader picture, which shows that these cyber-initiatives have become a threat to national security. Enforcement measures such as sanctions against the crypto mixer Sinbad indicate clearly that the authorities do not tolerate actions that, in the case of Lazarus, enable illicit activities.

With the crypto sector still struggling to handle cyber security, assessment and amelioration of security procedures to defeat intelligent actors like Lazarus Group have been urged.

The post Account Abstraction Can Greatly Simplify Blockchain Transactions: Here’s How appeared first on Coinpedia Fintech News

Blockchain transactions are safe but hard to understand because users have to keep track of encryption keys and go through a steep learning curve. These problems can be fixed by simplifying the user interface, making it easier to connect with blockchain networks, and prioritizing the user experience. 

Understanding Account Abstraction

Account Abstraction (AA) makes it easier for people to use blockchain networks by eliminating the need to handle cryptography keys and understand complicated processes. This makes using blockchain more like regular digital apps, making it easier for people to use and speed up transactions. 

At first, blockchain technology was designed for people who were good with computers. As it grew, it focused on making tools easier for more people. Account abstraction came up as an answer because it separated the details of transactions from the user interfaces. This lets developers come up with new ideas and makes it easier for people to connect. 

Adding account abstraction to blockchain systems means changing how transactions start and are handled. The interface is easy to use, and the technology handles the complicated parts of blockchain transfers in the background. This keeps the technology strong while making it easier to use. 

Technologies like Zero-Knowledge proofs and Multichain are very important for improving account abstraction. Multichain support ensures that different blockchain systems can work together, and Zero-Knowledge proofs keep privacy and security safe while making exchanges faster and easier to use. These tools make it easier for people to use and understand account abstraction in blockchain. 

Prom’s Approach to Account Abstraction

Prom uses a Modular ZkEVM Layer 2 structure to improve connectivity across different blockchain networks. This includes systems that don’t work with Ethereum Virtual Machine (EVM) but do work with other networks. 

This is possible by sending transaction data to multiple chains besides the main Settlement chain. This connects different blockchain ecosystems. 

By introducing account abstraction, Prom hopes to make it easier for people to use blockchain technology. The platform works perfectly with Ethereum systems already in place, making blockchain operations easier to understand. 

This is made easier with Zero-Knowledge (ZK) proofs, like zkSNARKs and recursive STARK technology, which allow transactions to happen quickly, safely, and cheaply. ZK proofs must keep deals safe and private while also keeping them efficient and scalable. Multichain and Zero Knowledge technology are built into Prom’s account abstraction structure to make blockchain easy to use and support various apps across different networks. 

This multichain feature makes Prom’s working setting bigger, making the blockchain space more decentralized and open to everyone. Prom wants to make blockchain technology easier for many people to understand and use, so they focus on simplifying the user experience. 

Also, Prom’s NFT platform, Prom.io, which has user-centred services like creating, selling, renting, and sharing NFTs, shows how these technologies are used in the company’s account abstraction strategy. 

These services use Prom’s Layer 2 solutions to ensure scaling, security, and privacy. This shows that Prom is committed to making it easier for people to use decentralized apps and making all users happier. 

How Account Abstraction Works

Account abstraction makes it easier for people to use blockchain networks by adding a layer of interface that takes care of all the technical details. This layer keeps users from having to deal with secret keys or learn about the ins and outs of blockchain. This makes transfers as simple as using a normal web or mobile app. 

In reality, account abstraction changes the way blockchain transactions are usually done. A person usually makes a transaction, signs it with a private key, and sends it to the network. Account abstraction hides these steps; users deal with it through a simple interface, and it takes care of creating and signing transactions immediately. 

Separating private key management from the user interface not only makes it easier to use but also makes it safer. Account abstraction’s Multichain support is very important because it lets it work on different blockchain platforms without users having to know the specific rules of each chain. This allows trades to go smoothly across enabled networks, increasing blockchain apps’ reach and freedom. 

Zero Knowledge proofs are also very important for improving security and privacy. These proofs ensure that transactions are valid without showing private information, keeping the security and integrity of transactions in the account abstraction layer. This ensures that deals are still safe and private, even though the process is easier. 

To picture this, think of a flowchart: user inputs go into the account abstraction layer, which then talks to different blockchain networks and uses Zero-Knowledge proofs to keep secret transactions across multiple chains safe. The user would be at one end of the picture, the blockchain at the other, and the account abstraction layer in the middle. Its job is to ensure all blockchain exchanges are simple and safe. 

Benefits of Account Abstraction

Account abstraction makes blockchain more useful and easy to use by hiding its details. This makes using blockchain easier because you don’t have to worry about encryption keys or understand how everything works. This makes the technology more appealing and easy for more people to use. 

One of the best things about account abstraction is that it improves security using Zero-Knowledge proofs. These proofs confirm deals without showing private information. This improves privacy and security, which is crucial for keeping users’ trust and data accuracy. In multichain settings, account abstraction also speeds up and improves the efficiency of transactions. 

Account abstraction cuts network stress and improves transaction speed by making the transaction process easier and requiring less data. This makes all blockchain networks run better. 

In addition, account abstraction makes the user experience a lot better. It takes the mystery out of blockchain transactions by making them easier to understand and use. This makes the technology more widely adopted by people who fear its complexity. 

This ease of use is important for maximizing blockchain’s autonomous potential for a wide range of applications and users, pushing the limits of its widespread acceptance and usefulness. 

The Future of Account Abstraction

As account abstraction develops and is used in more areas, its implementation could become more popular. Account abstraction’s ease of use and accessibility are likely to spur more growth, especially as the need for blockchain apps that are easy for regular people to use grows. 

This trend will likely speed up account abstraction’s merger into standard blockchain solutions, allowing more people to use this technology. As account abstraction becomes more integrated into the blockchain, Multichain, and Zero Knowledge technologies will likely make big steps forward. Multichain technology, which is needed for different blockchain networks to work together, is likely to improve, making cross-chain transfers easier and faster. 

This is very important for making account abstraction more useful and flexible by allowing it to be used on more blockchain systems. Account abstraction’s secrecy and safety will continue improving as Zero Knowledge technology improves. Zero Knowledge proofs that are more effective and flexible could speed up transactions and lower costs. This would make blockchain solutions more useful and attractive for individuals and businesses.

Changes in account abstraction could greatly affect the blockchain business and other areas. In business, account abstraction could make it easier to send and receive money. It gives people an easy way to control and verify their names without risking their privacy in digital identity management. 

Also, as blockchain spreads to fields like healthcare, real estate, and supply chain management, account abstraction’s work to make transactions faster and safer could help it become widely used, changing how data and transactions are handled in these areas. 

The future of account abstraction could significantly change the blockchain business, making it easier to use, safer, and more efficient. The continued development of Multichain and Zero Knowledge technologies is essential for unlocking account abstraction’s full potential. 

This could start a new era of blockchain usefulness far beyond its present uses. As account abstraction continues to grow, blockchain transfers will significantly change. It has the potential to make blockchain much more useful and popular in many more fields by improving user experiences and speeding up transaction processes. Because of this change, blockchain settings will probably become more stable and easy to use, and they can be used for more everyday tasks. 

The post Crypto’s Major Privacy Flaws Are Preventing Mass Scalability. What Can Be Done? appeared first on Coinpedia Fintech News

Cryptocurrencies have made great strides toward becoming a common way to handle money. They promise to be both efficient and decentralized. Privacy issues, on the other hand, remain a chronic problem. 

In contrast to what most people think, using digital currencies like USDC does require giving out a lot of personal financial information. This openness shows users’ net worth, income, and buying habits, which is more than what is needed for standard cash deals. 

This widespread problem makes people less likely to use cryptocurrencies for daily tasks like buying coffee and severely limits the industry’s growth potential. Addressing these private issues is essential for cryptocurrency to grow and be used by more people. However, there are platforms like Silent Protocol that aim to address this.

The Privacy Concerns in Crypto Transactions

People often think of cryptocurrencies as ways to make secret financial deals, but this is only partly true. The technology behind it might make it possible to remain anonymous. 

Still, it is usually apparent when used because of security measures and rules like anti-money laundering (AML) and know-your-customer (KYC) procedures. For these, personal information needs to be gathered and checked.

For example, buying coffee with USDC (a stablecoin tied to the US dollar) could show more personal information than expected, such as the user’s wallet balance, transaction history, and maybe even their name, depending on how well the platform follows the rules. This is more information than a cash exchange would give away because it is fast, private, and leaves no financial trace.

Cash transactions, on the other hand, are more private because no one else records your personal financial information, and there is no digital trail that can be examined. This difference raises privacy problems with crypto transfers, which could make them less popular and useful in everyday life.

Current Solutions and Innovations

Several platforms are devising new ways to deal with the severe privacy problems of crypto trades by combining new technologies that follow regulations. These projects usually aim to protect users’ privacy while ensuring the systems are strong enough to stop illegal activities and follow regulators’ rules.

One example in this area is Silent Protocol. It aims to fix the privacy problems with Ethereum decentralized apps (dApps) and uses the EZEE structure to protect users’ privacy on the Ethereum network. 

This framework uses several important technologies, including anonymity set that hides users’ identities, asset transfer channels that ensure transactions are safe and private, and zk-SNARKs (Zero-Knowledge Succinct Non-Interactive Arguments of Knowledge), which let transactions be validated without showing the data underneath. Silent Protocol also has “stealth addresses” for backup wallets, which let users deal with smart contracts without giving out their real wallet names.

The creation of the procedure also includes a way to ensure it meets legal standards. Under certain circumstances, a committee of trusted members can decrypt transactions and show information about the author, receiver, and transaction amounts if needed to follow the law, such as during investigations or punishments. This function ensures user privacy is protected while still meeting legal requirements. This strikes a balance between privacy and following the rules.

Silent Protocol works on a testnet, which shows that the technology is still being tested and improved thoroughly, even though it looks good. The fact that this technology is still in its early stages shows how hard it is to adopt advanced privacy-preserving solutions in the blockchain space and how dangerous it could be. 

So, Silent Protocol is a big step toward balancing users’ privacy needs with lawmakers’ need for openness. It also shows how privacy technology is still being tested and improved in crypto.

Impact of Privacy Issues on Crypto Adoption

Privacy concerns make it hard for people to use cryptocurrency for everyday activities. Many people don’t use it because their banking information is public, which is very different from cash, which keeps you anonymous. 

For instance, the thought of having every coffee purchase linked to a person’s bank account could prevent them from using cryptocurrency for normal, low-stake purchases. These worries stem from concerns about privacy invasion and the security risks of keeping private information on weak platforms.

Because of these privacy concerns, cryptocurrencies can’t be used for large-scale banking activities. If buying things with coins every day puts users’ privacy at risk, they can’t play a big part in the banking system. 

Cryptocurrencies might only be used where privacy isn’t an issue or the benefits are big enough to outweigh the privacy risks. This restriction affects individuals, businesses, and stores, which might not accept cryptocurrencies because of complicated rules and the risk of customers being upset about their privacy.

When people make frequent and large purchases in stores or online, giving out their financial information constantly can raise security risks and hurt their trust. 

Retailers might not want to use payment methods that could turn off many of their customers, making it harder for cryptocurrency to be used in everyday life. These private problems must be fixed for cryptocurrencies to grow and become fully part of the financial system.

High-Level Challenges in Ensuring Privacy

Making crypto transactions private is hard because of complicated technology and legal issues. The openness of blockchain technology, at the heart of most cryptocurrencies, keeps track of all transactions on a public ledger that anyone can see. 

This openness makes it harder to protect personal data even though it makes transaction records safe and unchangeable. Some new private technologies, like zero-knowledge proofs and ring signatures, might help, but they are hard to use and might slow down transactions and make it harder to scale. Also, these technologies need to keep changing to keep up with investigative analytics that can take away the privacy of blockchain data.

Rules like anti-money laundering (AML) and know-your-customer (KYC) procedures require personal information collection to stop illegal activities like money laundering and funding for terrorism. 

These rules make it hard to follow the law and protect user privacy simultaneously. Cryptocurrency sites must keep this careful balance while adapting to the fact that foreign laws and rules are always changing and very different from one country to the next.

This situation puts a lot of stress on both users and companies in the crypto industry. Providers must make systems that protect privacy and follow strict regulatory rules, which usually means spending a lot of money on compliance. 

On the other hand, users must weigh the pros and cons of using cryptocurrency against the risks to their data. How well the industry can deal with these ongoing technical and legal problems will be very important for protecting user privacy and encouraging more people to use it.

What the Future Holds

With new technologies and changing rules, the future of crypto privacy technologies is sure to bring about big changes. More people want privacy-enhancing solutions, which will likely lead to cryptography improvements. 

For example, zero-knowledge proofs will likely improve, secrecy sets will become more solid and decentralized, and safe multi-party computation methods will improve. These technologies give people more privacy while ensuring that deals are quick and easy to scale.

As coins become more integrated with standard financial systems, regulators will likely increase their control. Regulators should develop more complete models that carefully balance the needs for privacy and security. For example, they should better use AML and KYC procedures to keep privacy invasions to a minimum.

To find the best balance between privacy and compliance, the crypto business and government bodies must continue to collaborate. 

The business should collaborate with officials to make rules that encourage new ideas and address worries about security and openness. For example, they could suggest self-regulatory practices or create guidelines that include privacy by design. 

Regulators must keep up with technological changes to create rules that work well and are open enough to adapt to new technologies. The main goal is to create a place where people can benefit from cryptocurrencies without risking their privacy or breaking the law.

The post XRP Whales Seize Buying Opportunities Amid Market Fluctuations appeared first on Coinpedia Fintech News

Around three weeks ago, XRP reached a peak of $0.6413 before it dropped to a yearly low of $0.4336 within days. This reflected a 32% decline in less than three weeks. However, this pullback has given the whales a notable buying chance.

Last week, XRP climbed back to around $0.5, showing a 6% increase. But, more than 452 million XRP, worth over $232 million, was transferred to exchanges like Bitvavo, Bithumb, and Bitstamp from unknown wallets. This has raised concerns about a huge sell-off, even though XRP has recovered from a low of $0.43. 

XRP Whales Buy During the Drop

When XRP fell from $0.6413 to $0.4336 in about three weeks,the whales saw it as a chance to buy. Analyst Ali Martinez said these whales, mainly the ones holding between 10 to 100 million XRP, bought over 31 million XRP in just one week. That sums up to the worth of $16 million. However, some experts say that this buying will lead to a big rise in price.

Whales Are More Active

Whales moved 70 million XRP amidst the SEC vs SEC lawsuit. Some bought XRP, and some sold. This made the price uncertain. Nevertheless, some experts are of the opinion that XRP could reach $1. 

Read more: XRP Whale Transfers 129M XRP Amid Ripple Vs SEC Lawsuit Speculations

Studies show that big XRP holders tend to buy more when the price drops. This study is supported further by data from Santiment. It shows more wallets holding at least one million XRP. By April 22, there were 2,013 of these wallets, up 3.1% in six weeks and close to the highest ever of 2,014 in June 2023. This rise in buying is a result of XRP being the only digital asset with clear rules in the U.S.

XRPL AMMs TVL Reaches 7 Million XRP

XRPL AMMs have locked up over 7 million XRP in just one month. 3.7 million is currently locked. Recently, 1.5 million XRP was added in just a week, mainly to the SOLO/XRP pool. It offers the best return at 2.54% APY. In fact, Ripple also plans to launch a lending system and its own stablecoin on XRPL soon.

Read more: Ripple Price Prediction: XRP’s Path to a $33 Billion Market Surge by 2025

The post U.S. DOJ Cracks Down on Samourai Wallet for Alleged Money Laundering appeared first on Coinpedia Fintech News

Samourai Wallet developers released a beta version in 2024 allowing atomic swaps of bitcoin/monero. This new feature streamlined secure swaps between BTC and XMR using the Tor network. This release came amidst government scrutiny of privacy coins and exchanges delisting them. 

In October, FinCEN proposed new rules for crypto-mixing services. This was done to reduce money laundering risks. Also, starting from 30 Jan 2024, U.S. users would need to keep records. Following the beta version release, Samourai Wallet, Strike, and other firms urged FinCEN to drop its crypto-mixing rules proposal.

They argued the rules were too broad, interfered with lawful activities, and added unnecessary burdens to the industry. The companies also believed the data FinCEN wanted was already public. Hence, additional reporting was not necessary.

Read more: FinCEN Cracks Down on Bitzlato, Binance Named as CounterParty

Samourai Wallet Founders Arrested for Money Laundering

Keonne Rodriguez and William Lonergan Hill, founders of Samourai Wallet, were arrested and charged with money laundering and operating an unlicensed money transmitting business. The U.S. Department of Justice (DOJ), Southern District of New York, led the investigation. The charges claim that they enabled over $2 billion in illegal transactions and laundered over $100 million. 

The DOJ says Samourai Wallet mainly processed transactions from illegal dark web markets and defrauded decentralized finance protocols. Additionally, IRS-CI Special Agent Thomas Fattorusso noted that the major money laundering is due to the company’s lack of compliance.

Enforcement Agencies Seize Samourai Assets and Pursue Extradition

Law enforcement agencies coordinated their efforts to arrest Rodriguez in Pennsylvania and Hill in Portugal. The U.S. plans to seek Hill’s extradition for trial. Alongside the arrests, authorities collaborated with Icelandic officials to seize Samourai’s web servers and domain.

A seizure warrant was also issued for the Samourai Wallet mobile application on the Google Play Store, ensuring its removal from the U.S. market. U.S. Attorney Damian Williams emphasized the company’s role in facilitating money laundering from platforms like Silk Road and Hydra Market. He promised continued efforts to dismantle criminal organizations using cryptocurrency for illicit activities. 

Crypto Market Reacts to Samourai Wallet Founders’ Arrest

The cryptocurrency market became unstable after the U.S. DOJ arrested Samourai Wallet’s CEO and CTO. Within an hour of the news, Bitcoin fell by 3.6% to $64,296, while Ethereum dropped 2.51% to $3,147. Both coins recovered slightly afterward.

Read more: Ethereum Sees Decline In Whale Interest Amid Rising Bearish Threats: What’s Next For ETH Price?

Other popular coins like PEPE, Shiba Inu, and Dogecoin also fell. Bitcoin saw $33.08 million and Ethereum $29.88 million of long positions sold off. This drop came during Middle East tensions and after the recent Bitcoin halving.

People in the crypto world worry the arrests mean tougher rules from the U.S. government. Some think it’s a bad sign for Bitcoin.