Altcoins Analysis Bitcoin Blockchain

Grand Time’s Web3 Ecosystem Helping People Worldwide Realize Financial Freedom

Grand Time’s Web3 Ecosystem Helping People Worldwide Realize Financial Freedom

As an ambitious project that emerged to lower crypto’s entry barriers, Grand Time – the community-driven Web3 ecosystem of several interconnected solutions – has contributed significantly to improving the lives of billions of people worldwide. The Grand Time team is on a mission to provide financial freedom to underbanked and unbanked populations across underdeveloped countries, […]

Bitcoin

How To Spot a Trustworthy Crypto Casino

Crypto casinos are online casinos that use cryptocurrency as their primary means of payment. While traditional online casinos tend to focus on fiat currencies, crypto casinos offer a more decentralized approach that makes use of digital assets such as Bitcoin and Ethereum. Crypto & Bitcoin casinos have become increasingly popular in recent years, thanks to […]

Altcoins

DeFi Altcoin Rebounds by More Than 92% From Last Week’s Crypto Crash Despite Class-Action Lawsuit

The second version of a crypto whose predecessor is embroiled in lawsuits finds itself defying the odds on the price charts. SafeMoon (SFM) is the rebranded follow-up to SafeMoon (SAFEMOON), a so-called meme coin that initially skyrocketed after launching to great fanfare due to celebrity hype in March of 2021 before crashing two months later. […]

The post DeFi Altcoin Rebounds by More Than 92% From Last Week’s Crypto Crash Despite Class-Action Lawsuit appeared first on The Daily Hodl.

Bitcoin Crypto News

Avalanche Crumbles More Than 16% As Crypto Landslide Continues

Avalanche (AVAX), dubbed the “Ethereum killer,” has plunged to more than 16% following the disastrous crypto market scenario. Other crypto tokens that are also competitors to Ethereum have had massive double-digit losses in the last 24 hours. AVAX, considered the 13th biggest cryptocurrency with a market cap of $7.6 billion, has dramatically sloughed off over 16% of its TVL in the past few hours, and is now trading at $27.94. AVAX Treading The Bearish Path AVAX is leading the bearish action, which has placed the token down by 80% compared to its all-time high, which registered an impressive $146.22 in November 2021. The downward trend is triggered by the sluggish growth of different DeFi projects hedged on Avalanche. Suggested Reading | Ripple (XRP) Struggles To Breach $0.45 Level, Down 16% In Last 7 Days Avalanche – Ethereum Rival Ethereum is said to be slow and expensive in pricing, which paved the way for the creation of Avalance, which is eco-friendly, fast, and affordable. Avalance was created by Ava Labs, co-founded by Kevin Sekniqi, Emin Gün Sirer, and Maofan “Ted” Yin. The Ethereum-killer, Avalanche, is a blockchain that combines the trailblazing speed in confirmation times plus scaling capabilities using the Avalanche Consensus Protocol, which can process over 4,500 transactions per second (TPS). AVAX total market cap at $8.98 billion on the daily chart | Source: TradingView.com Avalanche went live and was launched in September 2020 and is considered one of the most reputable blockchains giants. Avalance now has a TVL of $11 billion, ranking it as the fourth-largest DeFI-based blockchain, following Terra and Binance Smart Chain. Avalanche has derived some protocols from Ethereum that you can experience in their DeFi ecosystem, including SushiSwap, decentralized exchange protocol, and Aave, its lending protocol. DeFi Projects TVL Down by 8.57% The TVL of DeFi protocols on the Avalanche blockchain is currently down by 8.57% in the last 24 hours or at $4.74 billion. This is relatively low compared to its all-time-high TVL, which went as high as $13.7 billion on December 2, 2021. The dip that registered at 7.5% was pretty significant for AVAX. TraderJoe, considered the most prominent decentralized exchange on Avalanche, plunged to 12.84 % in terms of the user base. Liquidity also decreased from $982 million to $577 million in barely a month. Suggested Reading | Crypto Analyst Predicts 1 Altcoin Will Fall Down Hard – Is It Cardano? Total active wallets found on the Avalanche network escalated to over 2.8 million yesterday, which is its all-time high. However, despite the increase in active wallets, the token still was bearish. To make matters worse, Avalanche total transactions have also dipped to only 358,474 from 800,000 last week. The numbers have plummeted miserably, especially if you compare the figures to its all-time high, which registered at 1.1 million daily on January 27, 2022. Featured image from Saanich News, chart from TradingView.com

Altcoins Analysis Bitcoin Blockchain

Indian Regulators Move to Make Celebrity Endorsement of Crypto Products Tough

India’s Controversial Crypto Tax Policy Formally Becomes Law Despite Community Outrage

The regulatory environment in India is increasingly becoming difficult for the crypto sector. In the latest development, the securities and commodity markets regulator has said that celebrities should stop endorsing crypto products. The Securities and Exchange Board of India (SEBI) argued that digital assets such as cryptocurrencies, NFTs, and Defi products are unregulated and no […]

Bitcoin Blockchain Crypto News

Kiln completes $5 million funding round to grow blockchain staking platform

Kiln, an enterprise-grade staking platform, today announced the completion of a $5 million funding round. The funding round included Third Kind Managing Partner and Andreessen Horowitz board partner Shana Fisher, SV Angel, Blue Yard, Alven, and Kima Ventures. The Kiln team will use the funds to bring on new talent, enhance its technology and build […]

The post Kiln completes $5 million funding round to grow blockchain staking platform appeared first on CryptoNinjas.

Crypto News Ethereum

Ethereum Prepares For Ropsten Testnet Merge As Token Struggles To Hold $2k Support

The Ethereum 2.0 update is generating a lot of buzz and interest, and we’re getting closer to its launch than ever before. Ethereum 2.0 Goes To Testnet Testing for Ethereum’s long-awaited Merge is progressing, though not at the rate that many had hoped. Testing on Ropsten, Ethereum’s largest and primary testnet, which has the closest similarity to the mainnet, is the next key milestone in the Merge testing process. Ropsten testing will be merged on June 8, according to Ethereum client developers. Although there is no official indication on when the Merge will take place on mainnet, it is expected to happen in the second part of this year. On Monday, Ethereum DevOps developer Parathi Jayanathi submitted a pull request for the Ropsten testnet Merge configuration code, indicating that it is ready for implementation. The Merge is Ethereum’s long-awaited upgrade, in which the current Ethereum Mainnet and the beacon chain PoS system will merge. Because it has a comparable network structure to the Ethereum Mainnet, this testnet is considered the best replication. Developers may now perform realistic deployment testing before making changes to the mainnet. The Ropsten testnet Merge will combine the proof-of-work (PoW) network with a new proof-of-stake (PoS) consensus layer testnet, with a May 30 launch date. It will simulate what will happen when Ethereum and the Beacon Chain merge and the network becomes a PoS network. Related Reading | New Data Shows China Still Controls 21% Of The Global Bitcoin Mining Hashrate Testing how the merge would work on Ethereum’s main public testnet would be one of the final assessments. As a result, the Ropsten public testnet is regarded as the most accurate clone of the Ethereum Mainnet, as it uses a similar network structure and allows developers to test their work in a live environment. Online, community developers have expressed their enthusiasm for the testnet announcement. According to Preston Van Loon, an Ethereum core engineer at Prysmatic Labs: Ropsten testnet is getting merged on June 8! Merging Ropsten is a huge testing milestone towards Ethereum's mainnet merge later this year. 🎉 https://t.co/X7eLIMA72g — prestonvanloon.eth @ Permissionless (@preston_vanloon) May 18, 2022 Price Fails To Hold $2K ETH is dropping inside a falling wedge on a daily time frame (in yellow). It’s worth noting that the wedge bottom is lined with the $1700 horizontal support level (in green), which could signal a trend reversal. As a result, if the bulls can hold the green zone, the price will be more likely to rise towards the $2450 level of static resistance. The price is more likely to begin a protracted regression phase if the bears continue to suppress the market and breach below the green support zone. ETH is trading on dynamic support (in green) against Bitcoin, which has blocked additional price decreases four times in the past. The world’s second-largest cryptocurrency, down 4.1 percent in the last 24 hours to US$1,974, has lost 48% of its value since 2022. ETH/USD trades below $2k. Source: TradingView And crypto investors who bought on November 16, 2017, when the Ethereum price was at an all-time high of US$4,892, will have lost just over 60% of their investment. Ethereum’s market cap has decreased to US$236 billion from well over half a trillion dollars at its height, despite maintaining its number two position. Related Reading | Bitcoin Indicator Hits Historical Low Not Seen Since 2015 Featured image from iStockPhoto, Charts from TradingView.com