quarta-feira, 26 de julho de 2023

ChainLink (LINK) Analyst Report: Crypto Long & Short

(Nick Fewings/Unsplash)

Old habits do indeed die hard, it seems. I used to work as an equity analyst, conducting research and initiating coverage of different companies within the small-cap, oil-and-gas industry.

The process was relatively straightforward:

The fifth step may or may not have been “hope for an investment banking relationship shortly thereafter,” but far be it from me to be cynical.

You’re reading Crypto Long & Short, our weekly newsletter featuring insights, news and analysis for the professional investor. Sign up here to get it in your inbox every Wednesday.

At any rate, as part of our ever-expanding efforts to provide value at CoinDesk, I’m resorting to past practices and expanding my crypto coverage universe. What follows is my first attempt to write an equity analyst–style report on a digital asset. Given the often-opaque nature of this space, I think it’s necessary, to a certain extent. Honestly, outside of bitcoin (BTC) and ether (ETH), the general public may have trouble discerning the use case for one versus another.

Keep in mind that this is not financial advice, and, as such, I will refrain from assigning price targets for tokens. It’s essentially an initiation and declaration of asset coverage, using a combination of fundamental, technical and on-chain analysis.

Over time, and as coverage continues, the goal is to provide periodic updates when something pertinent or impactful to the asset occurs.

The first asset, ChainLink (LINK), is a member of the CoinDesk Indices Computing sector and recently appeared on a moving-average screen whereby its 10-period exponential moving average crossed above its 100-day moving average.

Coverage Date: July 26, 2023

Price: $7.53

Market Cap: $7.5 Billion

Circulating Supply: 538 Million LINK

Max Supply: 1 Billion LINK

Comparable TradFi Market Caps: BJ’s Wholesale Club (BJ), $8.61 Billion; Southwestern Energy (SWN), $6.9 Billion

ChainLink is a “decentralized oracle network” (DON) that seems to serve as a bridge between on-chain and off-chain data, essentially linking smart contract platforms with external data sources. Examples of transmitted data often include – but are not limited to – price feeds, along with payment confirmations.

LINK tries to solve the “oracle problem,” which it defines as a blockchain’s “inability to natively pull data from or push data to an external off-chain system.”

Read more: What Is an Oracle?

ChainLink’s network consists of multiple independent, decentralized oracles that facilitate the retrieval and validation of data between on-chain and off-chain sources. The desired result, and ultimately its value proposition, is that the ChainLink network will help developers build better and more efficient blockchain applications that users will benefit from. Security and reliability of data appear to be core tenets of ChainLink.

Its native token, LINK, serves as the payment mechanism on the network itself. ChainLink users pay LINK to access oracle services. Holders of LINK are also able to stake the asset itself for additional returns on various decentralized finance (DeFi) platforms.

The result of ChainLink’s efforts has led to an expanding network of oracles, meant to increase the reliability of data transfer.

One timely feature that ChainLink boasts is its “Proof-of-Reserves” (PoR) offering, meant to bring transparency and verification of third-party reserves. (In other words, proving that firms really have the assets they claim to have.) Paxos, TrueUSD and BitGo are among ChainLink’s PoR customers.

A strategy that some traders may consider is to monitor whether LINK’s price declines toward its 20-day average of $6.92 before increasing and/or decreasing their holdings.

All told, this is the first of a number of assets that we plan to expand coverage on. As we do so, communication with the wider ChainLink community is valued as well, as we attempt to provide our readership with insights about the digital-asset landscape.

From CoinDesk Deputy Editor-in-Chief Nick Baker, here is some news worth reading:

Edited by Nick Baker.

Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Glenn C Williams Jr, CMT is a Crypto Markets Analyst with an initial background in traditional finance. His experience includes research and analysis of individual cryptocurrencies, defi protocols, and crypto-based funds. He owns BTC, ETH, UNI, DOT, MATIC, and AVAX

terça-feira, 25 de julho de 2023

PepeGains: Exploring Features of Emerging Memecoin Project

The recent surge in ETH memecoins has introduced us to various projects like Pepe, Pepe 2.0, Shib2.0, Doge2.0, and Btc2.0. Among these, PepeGains has also gained attention from traders and investors.

What sets PepeGains apart from its counterparts is its hyper-deflationary nature. Unlike many other projects, PepeGains incorporates a burn mechanism that eliminates 2% of tokens from every sell transaction. This feature has already led to the burning of over 15 million tokens within the first five days of its launch, out of a total circulation of 400 million.

Many projects lack a burn mechanism in their tokenomics, which can lead to inflation and dumping. PepeGains is a project with a hyper-deflationary mechanism that burns 2% from every sell transaction. In the first 5 days of its launch, over 15 million tokens were burned out of the 400 million tokens in circulation.

PepeGains has been showing a relatively stable performance by moving in the siderange, reaching $0.009 on July 15, hitting a local price top. The asset could be a part of a portfolio which aims for a volatility exposure. 

The original Pepe project achieved a market cap of nearly $900 million. PepeGains has already hit the market cap of almost $3 million and is trading with a noteworthy volume and liquidity on Uniswap. It's important to note that as with any investment, careful consideration and analysis are recommended before making financial decisions.

Disclaimer: This is sponsored content. The information on this page is not endorsed or supported by U.Today, and U.Today is not responsible or liable for any inaccuracies, poor quality, advertising, products or other materials found within the publication. Readers should do their own research before taking any actions related to the company. U.Today is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the article.

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PepeGains: Unveiling Characteristics of Prominent Memecoin

The memecoin wave, most recently energized by the Ethereum network, has seen the birth of a variety of new projects, such as Pepe, Pepe 2.0, Shib2.0, Doge2.0, and Btc2.0. Among these, the one making noticeable waves in the market is PepeGains.

Distinguishing itself from the crowd, PepeGains carries a distinct hyper-deflationary characteristic. In contrast to numerous other ventures, PepeGains features a unique burning mechanism that eradicates 2% of tokens from every sale transaction. This particular aspect has already resulted in the burning of more than 15 million tokens within just five days of its debut, from a total supply of 400 million.

A substantial number of projects miss out on incorporating a burn mechanism into their tokenomics, which can potentially cause inflation and unnecessary dumping. However, PepeGains differentiates itself with its hyper-deflationary setup that burns 2% off every selling transaction. Since its initiation, over 15 million tokens have already been burned from the total 400 million circulating tokens.

Thus far, PepeGains has demonstrated a stable trajectory, maintaining a sideways movement, and achieving a peak price of $0.009 on July 15. This asset could potentially be a suitable addition to a portfolio seeking exposure to volatility.

The original Pepe project attained a nearly $900 million market cap. Meanwhile, PepeGains has already reached a close to $3 million market cap and is witnessing significant trading volume and liquidity on the Uniswap platform. As always, it's crucial to remember that investing should be accompanied by diligent consideration and thorough analysis before any financial commitment is made.

Disclaimer: This is sponsored content. The information on this page is not endorsed or supported by U.Today, and U.Today is not responsible or liable for any inaccuracies, poor quality, advertising, products or other materials found within the publication. Readers should do their own research before taking any actions related to the company. U.Today is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the article.

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DEX Top Performer Token $TET to be Listed on MEXC Exchange on July 18th, 3 P.M UTC

Mahe, Seychelles – We are thrilled to announce that $TET, the top-performing token on Uniswap, will be listed on the esteemed MEXC Exchange. This listing represents a significant milestone for the Tectum project and opens up exciting opportunities for investors and traders worldwide.

The listing on MEXC Exchange is scheduled to take place on July 18th at 3 pm UTC. MEXC Exchange is renowned for its robust trading infrastructure, high liquidity, and a wide range of trading pairs. With this strategic move, $TET aims to provide its community with enhanced trading capabilities and a seamless trading experience.

TET has garnered significant attention in the DEX space due to its exceptional performance on Uniswap, innovative features of the SoftNote, and strong community support. The token's consistent growth and positive market sentiment make it an attractive asset for investors seeking a token with long-term global utility.

By listing on MEXC Exchange, TET gains exposure to a vast network of traders, institutional investors, and crypto enthusiasts. This increased visibility and accessibility will contribute to the further expansion of the $TET ecosystem and its adoption within the broader crypto community.

The $TET team has been working diligently to ensure a smooth listing process on MEXC Exchange. They are committed to providing ongoing support and maintaining transparent communication channels with the community throughout this exciting phase.

For more information about TET and the upcoming listing on MEXC Exchange, please visit the official website, www.softnote.com. Stay tuned for further updates on social media channels, including Twitter, Telegram, and Discord.

About Tectum:

From the Cybersecurity company CrispMind, The Tectum SoftNote is the ultimate Bitcoin/Crypto Layer 2 solution that overcomes the pitfalls of the lightning network. It is built on the Layer 1 Blockchain, Tectum, which is the fastest blockchain in the world and transacts at 1.3 million TPS! With SoftNote, users can enjoy instant, trustless, anonymous, and decentralized crypto payments for free. With a strong community backing and a commitment to innovation, $TET aims to shape the future of the cryptopayments for private and retail transactions and revolutionize the blockchain industry.

Disclaimer: This is sponsored content. The information on this page is not endorsed or supported by U.Today, and U.Today is not responsible or liable for any inaccuracies, poor quality, advertising, products or other materials found within the publication. Readers should do their own research before taking any actions related to the company. U.Today is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the article.

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BTC Peers Launches a Rating Of Top 10 Crypto PR Agencies

BTC Peers, a leading cryptocurrency news platform, has lauched a rating of the top 10 crypto PR agencies.

The accelerating growth of the cryptocurrency landscape has underlined the need for specialized blockchain and crypto marketing and PR agencies. By producing this rating, BTC Peers aims to simplify the selection process for businesses seeking to partner with reputable PR firms with expertise in blockchain.

The report offers a detailed analysis of each agency, covering key service offerings and potential Return on Investment (ROI). These services span a multitude of areas including Public Relations, Content Marketing, Digital Advertising, Community Management, Reputation Management, Branding and Design, Conversion Optimization, and Social Media Marketing.

The top 10 crypto PR agencies have been selected based on specific criteria, such as their array of services offered, effectiveness, quality, and capacity to generate a strong ROI. BTC Peers conducted meticulous research, scrutinizing the specialized services of each agency, evaluating past client reviews, and considering their demonstrated ROI.

BTC Peers' initiative is a significant step in illuminating the important role of PR agencies in the crypto landscape. Aided by these specialized firms, crypto businesses can maximize brand reputations, position leadership teams as industry vanguards, and achieve substantial business growth. As the report reveals, the strategic decision to employ a dedicated blockchain marketing agency can result in a remarkable upturn in investments in the blockchain business.

BTC Peers' rating of the top 10 crypto PR agencies offers a comprehensive guide for crypto businesses, allowing them to make informed decisions about partnering with a PR firm that aligns with their specific needs and goals. The analysis serves as a one-stop resource for understanding the offerings of each agency, their areas of expertise, and their potential ROI.

About BTC Peers

Established as a foremost source of cryptocurrency analytics, BTC Peers is revered for providing data-rich insights into the crypto landscape. The platform has become an essential resource for news and analysis in the cryptocurrency domain. BTC Peers' meaningful affiliations with significant figures in the global finance and business sectors contribute to its distinctive identity. Renowned platforms such as Wikipedia, Forbes, Yahoo Finance, CoinMarketCap, Nasdaq, and many others utilize its in-depth analysis in their articles, linking back to BTC Peers signifying credibility and trust in the crypto community.

For any inquiries, please contact: admin@btcpeers.com

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B2BinPay Partners with Ledger to Bring Special Branded Hardware Wallets to Its Clients

B2BinPay, one of the leading cryptocurrency processing firms, has teamed with the asset’s global platform Ledger to provide customers exclusive access to specially branded Ledger Nano X wallets bearing the B2BinPay branding.

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This offer is available to newly onboarded merchants and business clients, as well as current loyal customers, as a way to thank them for their continuing support.

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To secure their device, these customers will receive unique promo codes from B2BinPay, which they can enter on the dedicated partnership page of Ledger's official website. Only 1000 units in total are available as a part of the limited offer.

Ledger is renowned for its cutting-edge security protocols, streamlined asset management processes, and transparent transaction system. Their products are specifically engineered to safeguard the private keys associated with various digital currencies offline.

The new cooperation with Ledger will provide B2BinPay customers access to cutting-edge crypto storage options, resulting in more safe and efficient asset management solutions.

About B2BinPay

B2BinPay is a top-tier cryptocurrency payment platform designed to enable secure and cost-effective transactions between businesses. It supports an extensive range of digital assets and provides the ability to convert payments into fiat, stablecoin, or crypto.

Through its strategic collaboration with Ledger, B2BinPay has further reinforced its dedication to delivering secure and up-to-date crypto asset management services, keeping abreast of the swift advancements within the FinTech industry.

Disclaimer: This is sponsored content. The information on this page is not endorsed or supported by U.Today, and U.Today is not responsible or liable for any inaccuracies, poor quality, advertising, products or other materials found within the publication. Readers should do their own research before taking any actions related to the company. U.Today is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the article.

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Neon EVM Launches on Solana Mainnet

[PARIS] – July 17, 2023 – During ETHCC23, Neon EVM launched on the Solana Mainnet to help close the gap between the different programming, computing, and memory models of Ethereum and Solana, bringing a low-friction solution to allow EVM dApps to settle to Solana.

The Neon EVM program is a smart contract on the Solana blockchain. It accepts wrapped Ethereum-like transactions and processes them on Solana.

Previously, when EVM dApps wanted to leverage low-cost solutions, they had to use a rollup or sidechain. By using Solana as the settlement layer, an EVM is well-placed to outcompete such L2 solutions. The average transaction fee for sending ETH on the Ethereum network is ~$2. The L2s offer between $0.5–$0.1, a saving of 4–20 times. In comparison, Solana’s average transaction fees are ~0.00001 SOL ($0.0002) per transaction, 10,000 times saving. Initial tests of Neon EVM in Devnet demonstrate that the protocol translates these optimizations in practice.

“We are very excited to see Neon EVM live on Solana Mainnet,” says Marina Guryeva, Director of Neon Foundation. “Once we repeat these tests in production, we will present the figures based on the real-world data.”

With the launch of Neon EVM on the Solana Mainnet, the Neon DAO is activated to begin participating in, and influencing the future development of, Neon EVM.

About Neon EVM

Neon EVM is an Ethereum Virtual Machine operating as a smart contract on Solana. It gives developers the power to directly deploy Ethereum dApps with minimal reconfiguration to the code, while benefiting from Solana's technical advantages. It is built with security, decentralization, and sustainability as core tenants. For more information about Neon EVM and future updates, visit NeonEVM.org and connect with the community on Twitter or Discord.

Links and resources:

●  Find the Neon EVM community on Twitter or Discord

●  To choose a public RPC endpoint, see ChainList

●  For a high-level overview of the technical architecture and features of Neon EVM, the whitepaper is available at NeonEVM.org/whitepaper.pdf

●  View Neon EVM transactions settled to Solana with the NeonScan or BlockScout explorers.

●  IRL: Epic Layer 2 Day, an event for researchers, developers, and enthusiasts dedicated to Ethereum L2 Scaling, see lu.ma/l2paris

Disclaimer: This is sponsored content. The information on this page is not endorsed or supported by U.Today, and U.Today is not responsible or liable for any inaccuracies, poor quality, advertising, products or other materials found within the publication. Readers should do their own research before taking any actions related to the company. U.Today is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the article.

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Topcredit Int App Launches Exciting New Version, Enhancing Digital Asset Management Efficiency!

The brand new version of Topcredit Int App has been officially released today, bringing exhilarating feature updates that make digital asset management even more efficient and convenient!

1. Strategy Trading:TheTopcredit Int App introduces a new Strategy Trading feature, offering users the option for automated periodic investments. Through Strategy Trading, users can lower the average cost of purchasing cryptocurrencies while increasing their cryptocurrency holdings.

2. Task Center:Users can now participate in daily tasks through the new Task Center. Logging in daily earns points, which can be exchanged for task rewards. Completing new user tasks also rewards additional points, providing users with a simple and convenient trading experience.

Topcredit Int launched their branded card. This card is a comprehensive consumer card that allows users to recharge digital currency and enjoy global payment services. It supports transactions in over 176 countries and with 50 million merchants worldwide, making it compatible with various terminals such as POS machines and ATMs.As a globally recognized credit card, it supports binding with third-party payment companies for secure transactions. Every payment made with Topcredit card is secure and protected by law, ensuring consumer privacy.

Upgrade yourTopcredit Int App now and experience the enhanced efficiency of managing digital assets!

About Topcredit

Established in June 2020 and headquartered in Hong Kong, Topcredit Int is equipped with a professional team with expertise in the traditional finance industry. They have a deep understanding of users' needs in asset management and aim to create a next-generation one-stop asset management platform. Topcredit Int offers a wide range of financial products to investors, catering to their flexible asset allocation needs.

Website: https://www.tope.com/

Twitter: https://twitter.com/TopcreditEx

Telegram: https://t.me/Topcredit_Int_GroupEN

Medium: https://medium.com/@Topcredit_International

Media contact: Jerry Lucas

Mail: support@tope.com

Disclaimer: This is sponsored content. The information on this page is not endorsed or supported by U.Today, and U.Today is not responsible or liable for any inaccuracies, poor quality, advertising, products or other materials found within the publication. Readers should do their own research before taking any actions related to the company. U.Today is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the article.

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Leading Pro-XRP Legal Figure's Social Media Account Hacked

Jeremy Hogan, a high-profile lawyer and prominent supporter of Ripple's XRP, has fallen prey to a cyberattack, resulting in the hacking of his Twitter account.

This hack follows a recent court decision declaring that secondary XRP sales are not securities, a ruling the SEC has stated it plans to appeal.

On Hogan's Twitter account, fraudulent tweets have been promoting Ripple scams and giving away an "XRP V2.0 NFT Collection" to all XRP holders and nonholders. The last legitimate tweet posted by Hogan was four days ago.

The hackers are leveraging Hogan's well-regarded status within the crypto community to advocate for spurious claims.

Tweets from the compromised account are inviting users to join a "celebration with free XRP tokens" and urging them to "claim your tokens now and celebrate the victory with us." These claims are, of course, fake.

Related
Musk's Social Media Platform Edges Closer to Adopting Crypto
Hogan's official account is known for its solid legal perspectives on XRP and its ongoing legal battle with the SEC, rather than promotional activities.

This incident mirrors a similar hack that occurred in early June, where John Deaton, another notable pro-XRP attorney, was targeted.

As reported by U.Today, Deaton's phone was compromised following a relentless cyberattack over several days, resulting in unauthorized access to his Twitter account.

The hackers exploited Deaton's standing in the crypto sector to unveil a new digital token called LAW, touting it as an innovative addition to the decentralized finance (DeFi) landscape and encouraging followers to claim the token via a linked website.

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.

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DOGE Will Be Added by Elon Musk for Twitter-'X' Payments, Raoul Pal Believes

Renowned economist and investor Raoul Pal has taken to Twitter to share what he believes Elon Musk wants to ultimately achieve on Twitter and what changes he is likely to implement now that the social media platform is being rebranded as the "X" app.

Among these changes, Pal believes, is the integration of Dogecoin.

This week, tech tycoon Elon Musk, chief of Tesla, Space and Twitter, began to move toward fulfilling the plan he has voiced several times previously – to turn Twitter into "X," "The Everything App," as Musk referred to it. He might add jobhunting and dating app functions to "X" as well, according to his earlier tweets.

He has already changed the logo on the website from the legendary blue bird to an "X" and has done the same on the Twitter headquarters building.

Raoul Pal tweeted that he believes Elon Musk bought Twitter with several goals in mind. The first one is the use of artificial intelligence and "the free speech angle is to give in an unbiased model," according to Pal. He also believes that Musk needs the AI to train the Optimus robot.

The second thing Raoul Pal mentioned was that he expects Musk is going to use cryptocurrencies to enable global payments for content creators. Pal has made a guess that Dogecoin will be integrated for that.

Two things Ive said when Elon bought "X":

Elon bought it for the AI, and the free speech angle is to give it an unbiased model. He needs the AI to train the Optimus robot.

He will use crypto to be able to make global payments for creators etc. My guess is he uses Doge. 1/

The economist also reckons that Musk is going to integrate other sorts of payments and brokerage soon as well in order to let users – businessmen, investors, etc. – have all their financial discussions on this app and make payments there immediately, too.

Related
Musk's Social Media Platform Edges Closer to Adopting Crypto

As reported by U.Today earlier, Twitter Payments LLC, which is a vital part of the potential "X coin" system, has recently been granted licenses from several U.S. states to conduct crypto transactions.

In January this year, The Financial Times reported that Twitter was going to add cryptocurrency payments and was seeking a license for it. That report made the price of Dogecoin soar by 7%. However, the hopes of the crypto community of DOGE taking the honorable place of the crypto used on Twitter did not come true back then.

The DOGE price also soared in late October last year, when Elon Musk finalized the $44 billion Twitter acquisition.

Even prior to purchasing Twitter for 9.2% of its shares last summer, Musk voiced several times the idea of integrating Dogecoin on this app for micropayments, payments for Twitter Blue and rewards for content makers.

Now, the crypto community has all eyes on the further actions of Elon Musk to see whether DOGE is actually going to be adopted by the "X" app.

At the time of this writing, Dogecoin is seeing a 3.82% rise within the last 24 hours, and it is up 11.21% over the past week, trading at the $0.07685, according to CoinMarketCap.

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.

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Litecoin (LTC) Trading Skyrockets: Here's What to Keep an Eye On

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Prominent crypto intelligence portal Santiment has reported a surge in interest in Litecoin (LTC) as the highly anticipated Aug. 2 halving approaches. With less than 10 days left until the halving event, LTC's trading volume has seen a staggering 48.5% increase in less than 24 hours, soaring from $377 million to an impressive $560 million.

Interestingly, amid this remarkable growth in trading volume, the decline in the price of LTC seems to have come to a halt, despite having experienced a more than 20% drop since the beginning of June.

On closer inspection of smaller time frame charts, analysts have identified potential signs of a local bottom forming, indicating a potential shift in market sentiment.

Despite the surge in trading volume, prominent crypto analysts hold varying opinions about the future trajectory of LTC's price.

One such analyst, Benjamin Cowen, pointed to a historical pattern associated with Litecoin's halving events. He revealed that during previous halving years, the price of LTC has tended to fall during the June-July period. Interestingly, Cowen's tweet highlighting this pattern seemed to align with the start of LTC's recent decline.

In addition to Cowen's analysis, analyst Ali Martinez uncovered another data-driven pattern indirectly linked to the halving. Martinez observed that every time the number of new LTC addresses surpassed 350,000 over the past five years, a substantial price correction followed. Recently, the creation of more than 690,000 LTC addresses has taken place, indicating a potential "sell the news" type of event around the upcoming halving.

Related
Litecoin (LTC) Halving May Be Setup for Sell-off, Here's Why

In conclusion, Litecoin's recent surge in trading volume has generated excitement among crypto enthusiasts, but experts remain cautious, predicting the possibility of a price drop.

Financial analyst, trader and crypto enthusiast.

Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management.

He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.

Financial analyst, trader and crypto enthusiast.

Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management.

He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.

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Bitget Exchange Kickstarts New Rebranding Campaign Round After Stellar Performance

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

The year 2023 has clearly started well for top crypto derivatives and copy trading exchange Bitget, which has just announced the next stage of its new rebranding campaign on the “Trade Smarter” stage premise. The use of new AI-powered instruments and advanced features that take trading and Web3 interaction to the mainstream level is at the core of the initiative, aimed at solidifying Bitget’s market-leading position in light of lackluster results among competitors.

2023 may have started off poorly for most crypto market players in the wake of the FTX disaster, but Bitget managed to capitalize on the bearish mood. The recent TokenInsight 2023 Q2 Exchange Report states that Bitget soared to the top 4 position in terms of quarterly accumulated trading volume among centralized exchanges and accumulated over $74 million in profits over H1 of the year. Add to that the second-highest increase in market shares to 8.7% among all top 5 exchanges and Bitget climbed high enough to earn user attention.

Such traction was made possible, in part, thanks to Bitget’s smart approach to rebranding, which started off with a complete overhaul of its core product lineup and ensuing expansion to Web3 functionality in accordance with the in-house ‘Go Beyond Derivatives’ marketing strategy. The latter has been doing inroads recently with the acquisition of BitKeep Wallet and the inclusion of its 8-million-strong audience into Bitget’s core user base, ratcheting the total number of users to over the 20 million bar.

To leverage such a substantial user base, which added 29,700 new elite traders in H1 of 2023, as part of its rebranding campaign Bitget is implementing a new “Trade Smarter” philosophy approach – a derivative of its core “Better trading, better life” slogan. The purpose is to illustrate that the use of advanced technologies, such as AI-powered trading instruments, is capable of yielding results through increased efficiency and expanded functionality.

“Bitget's 5-year journey has been a testament to our continuous technological transformation, and I am proud of the progress the platform has achieved since 2018. Today, as we unveil our new brand identity, vision and visuals, we reaffirm our dedication to shaping a smarter digital future. Bitget is committed to collaborating with industry leaders to create a trading environment that is safer, smarter, and more productive, reflecting our shared vision for success,” as Gracy Chen, the Managing Director of Bitget illustrated the exchange’s aim and core values attached to the campaign.

Bitget’s first major step of the rebranding will touch upon the exchange’s visuals, revamping the mobile and desktop website interface in the next six months. A so-called “subtractive” approach has been taken in this regard to slash any excessive visuals that might interfere with creating a smooth and streamlined image, which would be in line with Bitget’s intentions of seeming an all-in-one trading venue.

Bitget has been on the trail of a major overhaul in recent months, which started with a series release of new products and instruments designed to integrate both trading and Web3. The exchange has also been hard on partnerships, allying with such renowned names as Juventus and Lionel Messi to support its global educational initiatives, meant to attract the attention of a young generation of users and empower them to support Bitget’s global values of crypto adoption.

Blockchain Analyst & Writer with scientific background. 6+ years in IT-analytics, 3+ years in blockchain.

Worked in independent analysis as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)

Blockchain Analyst & Writer with scientific background. 6+ years in IT-analytics, 3+ years in blockchain.

Worked in independent analysis as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)

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Crypto Liquidations Top $133 Million, Should Investors Be Worried?

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

The ongoing slump in the broader crypto market ecosystem is stirring a whole new bout of liquidations across the board. Data from CoinGlass showed that the total liquidations on the market over the past 24 hours have topped $133 million, a trend that has predominantly seen long traders liquidated.

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Crypto Market Liquidation Tops $119 Million, Here Are Key Expectations to Watch

As expected, Bitcoin (BTC) led the liquidations with a total of $40.63 million in liquidations recorded overnight. Long traders accounted for $37.95 million of this bogus sum, and short traders about $2.69 million. Ethereum (ETH) ranked as the second most liquidated digital currency with a total of $12.14 million.

The liquidation figure is justified, seeing the price of both Bitcoin and Ethereum plummeting by a mile over the past 24 hours. While BTC is trading at a price of $29,185.25, down by 1.91% to breach the core support level at $30,000, Ethereum has shed as much as 0.84% to $1,854.29 within the same time span.

Surprisingly, the newly launched Worldcoin (WLD), which was supported by some of the biggest exchanges, also recorded a mild liquidation of $4.45 million, per CoinGlass data.

Crypto liquidations are not an uncommon trend in the digital currency ecosystem, and many experts even advocate it as a viable means to help the market reset after periods of explosive price momentum.

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$100 Billion Plunge With $400 Million Liquidation: Most Bizarre Day in Crypto

Thus far this year, there are a series of liquidation reports made by U.Today, and naturally, the liquidations tend to clear off as market conditions return to being favorable. At the moment, the broader ecosystem appears distracted by the events around Twitter's rebranding to X, especially as it concerns the future of cryptocurrencies like Dogecoin (DOGE).

The crypto ecosystem has exhibited strong resilience over the past few months; this current setback may be another springboard for new rallies.

Godfrey Benjamin is an experienced crypto journalist whose main goal is to educate everyone around him about the prospects of Web 3.0. His love for crypto was birthed when, as a former banker, he discovered the obvious advantages of decentralized money over traditional payments. With his vast experience covering various aspects of Web3, Godfrey's articles has been featured on Blockchain.news, Cryptonews and Coingape, among others.

Godfrey Benjamin is an experienced crypto journalist whose main goal is to educate everyone around him about the prospects of Web 3.0. His love for crypto was birthed when, as a former banker, he discovered the obvious advantages of decentralized money over traditional payments. With his vast experience covering various aspects of Web3, Godfrey's articles has been featured on Blockchain.news, Cryptonews and Coingape, among others.

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Is Bitcoin's (BTC) Next Target $28,500? Here's Why It Could Be Around Corner

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

The cryptocurrency market's volatile nature is nothing new, and Bitcoin, as its largest representative, often mirrors these fluctuations. Recently, some analysts have been speculating about a possible drop in Bitcoin's price to the $28,500 level. But what factors could potentially lead to this scenario?

The primary cause of such a prediction is the potential for a liquidation spiral. If Bitcoin's price dips below the $29,000 threshold, we could see an avalanche of long liquidations. Long orders from $29,000 to $28,500 are aligned in a cascade-like fashion, meaning a price drop would likely lead to a series of liquidations, causing a further dip in Bitcoin's price.

This kind of downward spiral has been observed before and can exacerbate the volatility of Bitcoin's value. These rapid, cascading liquidations can quickly drive the price downward, creating a bearish environment that could lead to the suggested $28,500 price target.

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However, it is important to note that this is not a one-way street. If such a significant price drop were to occur, many traders might view it as an opportunity to "catch a knife." This term refers to the practice of buying an asset after a significant price decline in the hopes of profiting when the value rebounds. In the event of a sudden drop in Bitcoin's price, we could see a surge in long order volumes as traders attempt to capitalize on the situation.

While these predictions are based on market behaviors and technical indicators, they remain speculative. Bitcoin's volatile nature and the numerous variables affecting its price make predicting future values challenging. Therefore, traders should exercise caution and not base their analysis solely on technical data or the futures market.

Arman Shirinyan is a trader, crypto enthusiast and SMM expert with more than four years of experience.

Arman strongly believes that cryptocurrencies and the blockchain will be of constant use in the future. Currently, he focuses on news, articles with deep analysis of crypto projects and technical analysis of cryptocurrency trading pairs.

Arman Shirinyan is a trader, crypto enthusiast and SMM expert with more than four years of experience.

Arman strongly believes that cryptocurrencies and the blockchain will be of constant use in the future. Currently, he focuses on news, articles with deep analysis of crypto projects and technical analysis of cryptocurrency trading pairs.

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Elon Musk Makes Unexpected Shiba Inu Mention, Here's What Happened

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Tesla CEO and Twitter owner Elon Musk has made a rather surprising and unexpected Shiba Inu mention in a recent reply to a Twitter user who reacted to the latest Twitter rebranding.

Over the weekend, Elon Musk unveiled a new Twitter logo, "X," as part of the platform's revamping, which is now reflected on the site.

We rebranded to a Shiba Inu dog for a while. No impact.

The Twitter user commented that even if "Twitter rebranded to a donkey," he would still scroll for six hours every day, hinting at his passion for the platform. To this, Elon Musk responded with a laughing emoji and thereafter commented in his typical fashion, "We rebranded to a Shiba Inu dog for a while. No impact."

The tweet caught the attention of a SHIB community member, VetKusama, who commented, "Ok, then you can follow a way like this: a Shiba Inu-themed platform connected to blockchain."

The Shiba Inu dog rebranding that Musk was referring to occurred in April when the blue bird logo was momentarily swapped out for the Shiba Inu mascot.

On April 4, Twitter users observed that a cartoon of Shiba Inu, which serves as the face of the Doge meme, had taken the blue bird logo's place on Twitter's site and loading screen.

Musk, a lover of memes, has tweeted about altcoins like Dogecoin, Baby Doge Coin, Shiba Inu and Pepe, making mentions of them in his tweet. Unlike Dogecoin, which he has directly acknowledged, he has only made indirect mentions of Shiba Inu and other altcoins.

Mazrael, a Shiba Inu member, expressed excitement on Twitter as Shiba Inu turns three in the next six days.

🎉 Woof woof! Calling all #SHIBARMY ! 🎂✨ In just 6 days our beloved Shiba Inu token turns three! 🎊 Join us in honoring this amazing journey by continuing to spread the might of the Shiba and building a strong community together! 🚀🐕 pic.twitter.com/MtiWXK1qhs

"In just 6 days our beloved Shiba Inu token turns three," Mazrael wrote, sharing a screenshot of when the Shiba Inu token was deployed on July 31, 2020.

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Mazrael highlights the achievements of the Shiba Inu project: "What an incredible journey. From 'meme' to a complete ecosystem. Metaverse, gaming, play to earn, food, clothing, physicals and so much more."

At the time of writing, SHIB was marginally down in the last 24 hours to $0.00000779, per CoinMarketCap data.

Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.

Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.

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Bitfinex Moves Gargantuan Bitcoin (BTC) Chunk, Here's Surprising Destination

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Approximately 22 hours ago, Whale Alert blockchain tracking platform, which tracks down large crypto transactions, spotted 3,500 Bitcoins moved from the Bitfinex exchange, one of the earliest and biggest crypto platforms on the market.

Chinese crypto journalist and blogger Colin Wu shared a comment from the recently launched Arkham Intelligence platform relating to that on his Twitter page.

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According to Arkham data, the wallet, to which the aforementioned transaction was sent — 3E3CPTRLjTJe7GQuxMKpwmai2yFbkuGDMV — belongs to Bitfinex itself; it is the transit address of this trading platform. It received 3,500 BTC, which was equal to roughly $102 million at the moment of the transfer.

Wu stated that there had been two other rounds of BTC transfers from Bitfinex to that very same wallet, which carried large chunks of Bitcoin. They were later sent on to other wallets that belonged to the exchange.

According to Whale Alert, 3,500 BTC (approximately $102 million) were transferred from Bitfinex to unknown wallet. The unknown wallet address 3E3CPTRLjTJe7GQuxMKpwmai2yFbkuGDMV is the transit address of Bitfinex. There have been two rounds of transactions in which large amounts…

At the time of this publication, 3,500 BTC are worth $102,160,100 in total.

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DOGE Will Be Added by Elon Musk for Twitter-'X' Payments, Raoul Pal Believes

Crypto analyst Ali Martinez has shared a Glassnode screenshot showing the number of new Bitcoin wallets rising up. The analyst commented that this clearly indicates the Bitcoin network has begun growing again and called it a bullish sign as it signals an uptick in the utilization of the BTC network.

#Bitcoin | The number of new daily $BTC addresses is trending up, which suggests the #BTC network is growing again. This is a bullish sign as it implies an uptick in network utilization. pic.twitter.com/dZpXB56uYT

Earlier this week, Santiment on-chain data aggregator tweeted that it is worth watching the growth in the number of large Bitcoin wallets as the summer keeps rolling on. If the amount of wallets containing 100 BTC and more begins to rise again, this may signify high odds of another price breakout coming soon after that.

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.

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Cardano (ADA) Retains Bullish Momentum in This Key Metric

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Cardano (ADA) has joined the scores of altcoins whose price is seeing a downward spiral trailing a broader market bearish momentum. At the time of writing, Cardano is trading at a spot price of $0.3053, with its price down by 0.10% over the past 24 hours. The Cardano slump has also shown a similar bearish growth trend over the trailing seven-day period.

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Despite the temporary setbacks as shown in its price, Cardano remains a high flier and a promising token that has continued to maintain investor interest. Despite the bearish outlook in the token's price, it is exhibiting a bullish momentum in other important metrics.

One of these metrics is its trading volume. Per data from CoinMarketCap, Cardano has seen its trading volume jump as high as 45%. This is evidence that there is a very proactive accumulation of the digital currency both on the secondary market and among institutional investors.

Even if the price is slightly depressed but accumulation is sustained, reversing the trend is bound to be easier in the grand scheme of things. Besides the trading volume, Cardano has also seen a slight increase in its holder's balances, according to insights from IntoTheBlock (ITB).

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Cardano has an active developer base that has helped it churn out several unique products thus far this year. With protocols such as the Lace and Hydra scaling tool as part of the new innovations unraveled on the mainnet recently, Cardano looks primed to welcome new innovative decentralized applications (dApps).

With more functional dApps, the usability of Cardano will be increased and, thus, help drive a maximum surge in the price of the ADA. While the slipping prices may be considered a setback, in reality, it can be considered a push for Cardano to chart a bullish trend in the near term.

Godfrey Benjamin is an experienced crypto journalist whose main goal is to educate everyone around him about the prospects of Web 3.0. His love for crypto was birthed when, as a former banker, he discovered the obvious advantages of decentralized money over traditional payments. With his vast experience covering various aspects of Web3, Godfrey's articles has been featured on Blockchain.news, Cryptonews and Coingape, among others.

Godfrey Benjamin is an experienced crypto journalist whose main goal is to educate everyone around him about the prospects of Web 3.0. His love for crypto was birthed when, as a former banker, he discovered the obvious advantages of decentralized money over traditional payments. With his vast experience covering various aspects of Web3, Godfrey's articles has been featured on Blockchain.news, Cryptonews and Coingape, among others.

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New Indicator Shows Shiba Inu (SHIB) Popular Among New Investors

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Shiba Inu (SHIB) is showing growing popularity among new investors in the cryptocurrency space. This development is revealed by a new metric introduced by IntoTheBlock, a blockchain data analytics firm. The indicator focuses on the proportion of new addresses conducting their first transaction out of all active addresses on a given day, offering insights into the share of total activity attributable to newcomers.

For Shiba Inu, this percentage recently leaped from around 30% to nearly 65%, signaling a surge in new investor interest in this token. It is a compelling turn for a token that emerged as a "meme coin," modeled on the popular Dogecoin but quickly establishing its own strong following.

This surprising uptick in SHIB's new investor appeal could be tied to its resurgence as the reigning "meme coin king." This title appears to have been reclaimed from PEPE coin, another well-known entrant in the meme coin category. Meme coins, often started as jokes, have gained considerable attention in the crypto sphere, with tokens like Dogecoin and Shiba Inu amassing substantial market caps and dedicated communities.

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Shiba Inu (SHIB) Investors Taking Profits? Billions Move on Exchanges

It is worth noting that the influx of new investors signals a broadening user base, potentially driving increased liquidity and stability in the token's trading. Moreover, the meme token's popularity might also suggest an expanding acceptance of such coins in the wider crypto market, hinting at a shift in investor sentiment and a potential trend for other such tokens to follow.

However, as always in the cryptocurrency world, caution is advised. Meme coins, like Shiba Inu, are renowned for their volatility and unpredictability. New investors, in particular, should conduct thorough research and take into account the risks involved in trading these digital assets.

Arman Shirinyan is a trader, crypto enthusiast and SMM expert with more than four years of experience.

Arman strongly believes that cryptocurrencies and the blockchain will be of constant use in the future. Currently, he focuses on news, articles with deep analysis of crypto projects and technical analysis of cryptocurrency trading pairs.

Arman Shirinyan is a trader, crypto enthusiast and SMM expert with more than four years of experience.

Arman strongly believes that cryptocurrencies and the blockchain will be of constant use in the future. Currently, he focuses on news, articles with deep analysis of crypto projects and technical analysis of cryptocurrency trading pairs.

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20 Trillion SHIB Reach Break-Even Point as Shiba Inu Kicks into Top Market Performers

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

In a surprising and exhilarating twist of fate, the Shiba Inu token, SHIB, has experienced a significant surge in its value over the past 48 hours, leading to an astounding number of tokens reaching their break-even point. Recent market data provided by IntoTheBlock has brought to light that more than 20 trillion SHIB tokens have regained their "initial" value as a direct consequence of the latest price action.

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Shiba Inu (SHIB) Investors Taking Profits? Billions Move on Exchanges

The sensational price movement unfolded earlier today when SHIB touched an essential level of $0.0000076, sparking an impressive 3.69% gain within the following 12 hours. This remarkable price action is part of a larger trend in the crypto sphere, with the ever-popular Dogecoin (DOGE) leading the pack with a whopping 12% surge over the last three days.

As a result of this extraordinary rally, both the Shiba Inu token and Dogecoin have secured coveted spots among the top market performers.

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Dogecoin (DOGE) and Shiba Inu (SHIB) Eye Explosive Dynamics Right From Start of Week

The surge in SHIB's value has allowed more than 20 trillion tokens to transition from losses to profits, underscoring the scale and scope of the rally. In a staggering revelation, this surge accounts for a substantial 50% of all "profitable" Shiba Inu tokens currently in circulation.

Euphoria and excitement are rising in the Shiba Inu and Dogecoin communities as enthusiasts celebrate their newfound profitability. While some attribute the surge to speculative trading and market sentiment, others believe the reason is due to Twitter's rebranding to X and speculation surfacing again about the use of DOGE on the platform.

Financial analyst, trader and crypto enthusiast.

Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management.

He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.

Financial analyst, trader and crypto enthusiast.

Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management.

He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.

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Blockchain Node Provider Ankr Introduces Ultra Sound Infrastructure

A novel distributed infrastructure solution is designed to process requests to blockchain RPC nodes from various regions across the globe.

According to the official announcement shared by the team of Ankr, a major infrastructure provider, its brand-new Ultra Sound Infrastructure solution goes live.

Inspired by the ideology of "Ultra Sound Money" on Ethereum (ETH), it is designed to set new standards for speed, performance and cost-efficiency for crypto app developers and their applications working with a variety of blockchains.

Ankr launches a number of incentives to stimulate its node providers to cover any gaps in multi-chain Web3 infrastructure for building cryptocurrency applications of all types.

The new solution will only be focused on deploying archive nodes to address the most challenging requests of high-performance mainstream decentralized applications.

Kev Silk, Ultra Sound Infrastructure lead, is excited by the mission of Ankr's new offering and the toolkit of opportunities it unlocks for developers:

Ultra Sound Infrastructure ensures developers and enterprises can build high quality and resource-intensive applications without worrying about slow or unstable network connections. By utilizing our global archive nodes, developers can also ensure that their applications maintain the highest level of performance for their global customer bases.

Not unlike other solutions by Ankr, Ultra Sound Infrastructure relies on ANKR cryptocurrency as a backbone element of its economic design. ANKR is an ERC-20 token that can be used for paying for RPC requests on Ankr.

With this popular token, developers can access 30+ blockchains via various types of cryptocurrency nodes.

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As covered by U.Today previously, in June-July 2023, Ankr scored partnerships with Chilliz platform and Flare blockchain. Flare RPC APIs are now accessible via the Google APIs marketplace module powered by Ankr.

ANKR cryptocurrency is currently changing hands at $0.02407, up 5.1% in the last 24 hours on major spot trading platforms.

Blockchain Analyst & Writer with scientific background. 6+ years in IT-analytics, 3+ years in blockchain.

Worked in independent analysis as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)

Blockchain Analyst & Writer with scientific background. 6+ years in IT-analytics, 3+ years in blockchain.

Worked in independent analysis as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)

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Ripple Lawsuit: SEC Might Be Hesitant to Go After Similar Cases, Law Veteran Says Why

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

The court's July 13 decision that XRP is not a security marks a landmark ruling, not just for Ripple but for the entire crypto industry. This is because it sets the precedent for other crypto assets and securities regulation in the U.S. and was the first industry win over the SEC.

According to Ripple, the SEC's lawsuit against the company was unfounded and represents yet another effort to regulate crypto through intimidation and enforcement.

That said, the question of what is next remains in the hearts of crypto market participants given that since January, the SEC has brought 24 crypto-related enforcement cases, including lawsuits against the exchanges Binance, Coinbase, Kraken and Gemini.

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There have been speculations on whether the SEC might go after Ethereum following its migration to proof of stake via the Merge upgrade last September.

This is because Gary Gensler, the chair of the SEC, had previously claimed that ether might qualify as a security after switching to proof of stake. Users of Ethereum are uncertain as to whether the SEC will take enforcement action.

This was a question posed to former SEC lawyer Marc Fagel by a Twitter user who asked if the SEC might go after the ETH foundation after the Ripple ruling. Fagel answered uncertainly that this depends on the evidence as well as the statute of limitations.

Depends on the evidence, as well as the statute of limitations. I suspect that, after the Ripple ruling, they may be reluctant to pursue a comparable case (and the prior administration's speech is a problem), but I don't have any insights into their current enforcement strategy.

In his view, after the Ripple ruling, the SEC might be reluctant to pursue a comparable case. Fagel adds some doubt by saying that he does not have insights about the SEC's current enforcement strategy.

The judge's decision in the Ripple case delivered the SEC a setback because it found that the company did not break securities law when it offered XRP to retail investors, but it did when it came to institutional investors.

Related
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Over the weekend, in new filings with Terraform Labs, the SEC hinted at appealing the Ripple ruling.

Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.

Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.

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Venom Foundation Scores One Million Registered Accounts: Details

Venom Foundation, a new-gen blockchain with a focus on DeFi and NFT use cases, smashed through major milestones in July, 2023. Record-breaking metrics have been witnessed in terms of transaction count, smart contract count, accounts registered and so on.

Today, on July 25, 2023, Venom Foundation reached its first million of accounts registered. Besides that, in the first three months after public testnet release, the blockchain witnessed impressive growth in the spheres of smart contracts, non-fungible tokens and confirmed transactions, the official statement says.

Venom Foundation is on a mission to be the first in onboarding a billion users onto the blockchain and transform the financial landscape before 2026.

In this thread, we'll explore the three key pillars that drive this vision. pic.twitter.com/jtc64lF0Du

In June 2023, it recorded 277 million transactions between testnet accounts, which is equal to a 46% increase compared to May levels. The team of the ADGM-registered venue is certain that this upsurge is evidence of the growing popularity of the blockchain in various spheres.

Also, the platform saw a 65% surge in the aggregated count of active wallets with smart contracts. Now, over 28 million smart contracts are running on Venom Foundation.

As covered by U.Today previously, Venom Foundation launched its first iteration of its public testnet in April 2023. Its team promotes itself as the first Dubai-headquartered and fully regulated cryptocurrency business.

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Prior to opening its testnet for cryptocurrency enthusiasts, Venom Foundation announced a $1 billion fund for projects interested in using it as a technical basis.

Besides accomplishments in smart contracts and registered account metrics, the blockchain registered a 93% spike in the net number of NFTs minted on its platform. As a result of large social initiatives, this metric jumped to 5.8 million in June.

Christopher Louis Tsu, acting CTO and CEO of the Venom Foundation, is impressed about the first results of his project's expansion in Dubai and abroad:

Frankly speaking, it took me completely by surprise. We had 250,000 users in the first six days. Can you imagine opening a new shop in town, drawing the curtains back and seeing quarter of a million people lined up outside your door.

In Q1, 2023, Venom Foundation also scored a number of major partnerships, including with Everscale, DAO Maker launchpad and, most recently, with the Government of Kenya.

Blockchain Analyst & Writer with scientific background. 6+ years in IT-analytics, 3+ years in blockchain.

Worked in independent analysis as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)

Blockchain Analyst & Writer with scientific background. 6+ years in IT-analytics, 3+ years in blockchain.

Worked in independent analysis as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)

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Coinbase Lawsuit: Here's How Many Want XRP Holders' Lawyer's Representation

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

There are a number of complicated dynamics in any securities lawsuit such as the one levied against the duo of Binance and Coinbase exchanges by the United States Securities and Exchange Commission (SEC), especially for platform users. In a bid to gain the appropriate standing to be the mouthpiece of these users, XRP holders' lawyer John Deaton has issued a form to represent these users, which he recently revealed has crossed the 3,890 mark.

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XRP Sees Spectacular $2.6 Million Inflows Post SEC v. Ripple Ruling

3,895 customers have signed up. If you don’t want the SEC speaking for you and and you want them to stop providing you with their unique form of protection, feel free to join. https://t.co/Udv2swSdjz

Based on his amicus representation of XRP holders, Deaton occupies an important position in the yet-to-be-concluded lawsuit between Ripple Labs and the SEC. Through his role, the more than 75,000 XRP holders he represents were able to lend their voice to the argument that they did not invest in XRP as an investment contract or security.

While the recent XRP ruling shows that the efforts put into the litigation were not a waste, should the case have turned out in the SEC's favor, Deaton would have been able to help the XRP holders he represented get a cut of the fines that Ripple Labs would have paid.

While the SEC has often claimed that its lawsuits against the top firms in the digital currency ecosystem were to protect retail investors, it is evident that more trust is placed on Deaton as showcased by the more than 3,900 already signed up for him to represent them.

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XRP Lawyer Hints What Might Happen if SEC Gets Appeal in Ripple Case

The markets regulator said that both Coinbase and Binance supported the trading of unregistered securities, including top tokens like Cardano (ADA), Solana (SOL) and Filecoin (FIL), to mention a few. Though the XRP ruling has created a precedent for the industry, holders of the coins designated by the SEC may still need to guard themselves against any unforeseen eventualities, and Deaton is offering himself to help as much as possible.

Godfrey Benjamin is an experienced crypto journalist whose main goal is to educate everyone around him about the prospects of Web 3.0. His love for crypto was birthed when, as a former banker, he discovered the obvious advantages of decentralized money over traditional payments. With his vast experience covering various aspects of Web3, Godfrey's articles has been featured on Blockchain.news, Cryptonews and Coingape, among others.

Godfrey Benjamin is an experienced crypto journalist whose main goal is to educate everyone around him about the prospects of Web 3.0. His love for crypto was birthed when, as a former banker, he discovered the obvious advantages of decentralized money over traditional payments. With his vast experience covering various aspects of Web3, Godfrey's articles has been featured on Blockchain.news, Cryptonews and Coingape, among others.

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Whales Shift 49 Billion SHIB as Shibarium Hits New All-Time High

According to Etherscan, over the past few hours, several cryptocurrency whales have transferred nearly 50 billion Shiba Inu canine-themed tokens. This included both withdrawals from crypto exchanges, transfers to exchanges and movements of SHIB between whales' wallet addresses.

Eighteen transactions, from which the largest one carried more than nine billion of Shiba Inu — 9,571,054,391 SHIB were moved to a hot wallet of the Bybit exchange.

One billion SHIB were also moved to KuCoin, and 2.4 billion Shiba Inu were sent to the Binance exchange.

A few billion SHIB were withdrawn from crypto exchanges, and the rest of the 28.7 billion meme coins was moved between unknown wallet addresses, in accordance with the Etherscan data.

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Bitfinex Moves Gargantuan Bitcoin (BTC) Chunk, Here's Surprising Destination

Meanwhile, the Shibarium beta Puppynet has managed to achieve a new historic peak related to the transaction count. This metric has added another million SHIB transactions and now stands at 32,334,726, getting to that level within just a few days after hitting 31,000,000.

The chart on Puppyscan shows a peak of 279,814 transfers that occurred on July 11. The number of blocks mined on Puppynet equals 1,839,739, while the count of wallets connected to the network constitutes 17,062,576.

The Shibarium mainnet is expected to kick off after Aug. 16, when the Blockchain Futurist Conference in Toronto ends. SHIB is one of the sponsors of this major annual event in the crypto space. Besides, this year, the pseudonymous leader of this meme coin team, known as Shytoshi Kusama, is going to give a live speech at the conference, using an AI-based app to conceal his real identity.

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.

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