Carole Lloyd

Carole Lloyd

I'm a highly experienced crypto author. I've been writing about cryptocurrency for over 3 years now and have seen the industry grow and change immensely. I have a deep understanding of the technology behind crypto and can explain complex concepts in simple terms. My blog is followed by thousands of people who are interested in learning more about cryptocurrency.

coinedict

Will the “Real” SquidGame Token soar the price up to 1$ after listing on Exchange?

Izmir, Buca – Well there have been a lot of Scam $SQUID tokens in the news lately but there has been only one Knight in Shining Armour $SGT which is Audited by Techrate. They have finalised an Exchange and are about to get listed soon which makes them the only Squid game series Fan token to be listed on an Exchange. They have a very lively Telegram community of 22,000 holders. Before the massive rugpull was done by another token, $SGT team had warned the investors too to not invest in other scam Squid Tokens. About SquidGame Token ($SGT) SquidGame Token is a crypto gaming project inspired by a series on Netflix, SquidGame, that offers auto-static Ethereum rewards on every transaction. The $SGT token got  listed on CoinMarketCap on Day 2 of Fair Launch. They soared up to ATH when Tech Billionaire tweeted about the Netflix series SquidGame. They launched a Metaverse (Play2Earn) game on 5th Nov 2021 that allows the players to earn ETH rewards while playing. Their Community have been loving the Game Teasers and have already given the name to the $SGT game as Axie Infinity Killer. The Token has already been in news on Yahoo Finance and Benzinga as the only Real $SGT token. The $SGT token has reached a 10Million Market Cap already and is ready to drop crazy NFTs too that can cause FOMO among the community. The team has kept just 100 Billion as the total supply and burnt 3% of the tokens out of circulation already. They have promised the community of more Burns as they wished.The company also has big charity plans which will be announced in the coming days. SquidGame’s founder, Koray Darcan and co-founder Levent Tenis have been working on the project’s roadmap since last month. They have a massive knowledge of smart contracts, blockchain and its related technologies. So additionally, to ensure the project’s success, the founders have formed a team of professionals, the ‘A-Team’, including Yusuf Demir serving as the CEO, Adnan Barangil responsible for Marketing, and Ahmet Okuman as the Graphic Designer. The team also includes Ersen Berber, Kaan Savasan and Erdem Yildiz as the Developer, Market Maker and Game Developer respectively. The Team is very confident after being doxxed on their website  that they’ll survive the flood of other scam Squid projects coming in the Market everyday. They are about to get listed on Exchange soon after the $SGT game V1 is launched recently.  Contact: Website: https://tokensquidgame.com Twitter: @_SquidGameToken Telegram: https://t.me/TokenSquidGame Email: koray.darcan69@gmail.com

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What Are Polkadot's Parachain Auctions?

What Are Polkadot’s Parachain Auctions?

Key Takeaways The Polkadot ecosystem will host projects on individual networks called parachains. The first Polkadot parachain auction is set to begin Nov. 11. Acala, Moonriver, and Phala are three standout projects hoping to launch on Polkadot. Share this article The Polkadot ecosystem is preparing for one of its biggest events to date: the launch of parachain auctions.  Polkadot Prepares for Parachain Auctions  Layer 1 smart contract platforms like Solana, Avalanche, and Cardano have exploded in recent months. Polkadot is a similar network with big potential, but it takes a different approach to other Layer 1 blockchains by allowing for multiple chains known as parachains to be built onto the Polkadot network. Polkadot’s founder Gavin Wood touts the network as “a bet against blockchain maximalism.”  The Polkadot network is comprised of a core relay chain to which several parachains connect. Each parachain acts a separate blockchain but comes with built-in interoperability with all other parachains on Polkadot. Parachain slots are limited, so competition is fierce over which projects will be able to secure them through the parachain auctions.   The upcoming parachain auctions are a key steps towards Polkadot achieving its mission to become a scalable multi-chain network. This feature explores parachain auctions and some of the most prominent projects that could be joining the network in the coming months.  What Is Polkadot? Polkadot’s name itself goes some way to explaining how the project works. The Polkadot network can be thought of as an array of circles on a canvas, where each circle represents a different project. Polkadot is the base layer each project is built on. Projects that connect to Polkadot will be interoperable with one another, and every parachain will leverage the security of the Polkadot network while maintaining its own governance structure. Additionally, Polkadot says it is “future-proof” because it can upgrade without hardforks (other similar blockchains like Ethereum regularly complete hardforks for major upgrades).  Polkadot’s Relay Chain launched its mainnet in May 2020, and its DOT token is currently the eighth largest cryptocurrency by market capitalization. Prior to launching Polkadot, Wood played a major role in the development of Ethereum and Solidity, the programming language for apps that run on Ethereum. He went on to set up the Web3 Foundation and Parity Technologies, the teams behind Polkadot, Kusama, and the Substrate programming language.  Polkadot is frequently described as an “Ethereum killer,” though Wood has previously disagreed with this characterization. He recently said that just as one should not bill Microsoft as a Chrysler killer, one should not bill Polkadot as an Ethereum killer.  Polkadot has four main components: the Relay Chain, parachains, parathreads, and bridges. The Relay Chain can be thought of as Polkadot’s heart. Parachains connect to it when they join the network. The Relay Chain itself does not support smart contracts and it only handles a small number of transaction types such as staking. The slots parachains connect to are similar to cores on a computer processor. Bridges, meanwhile, connect parachains and parathreads to external networks such as Ethereum. Parachains are individual blockchains. Parachain auction winners can lease a slot for up to two years. Parathreads, meanwhile, allot eligibility for up to six months on a pay-as-you-go basis.   To achieve consensus, Polkadot needs to fill four roles: nominators, validators, collators, and fishermen. Nominators stake DOT to validators they deem as trustworthy in order to secure the relay chain. Validators also make sure that every parachain “state” sent by collators is correct. Collators maintain parachains and participate in consensus. Fishermen report bad behavior to validators; the role can be filled by both collators and parachain nodes.  What Are Parachain Auctions? The parachain slot auction process was initially tested on Kusama, Polkadot’s Canary Network. On Oct. 13, the Polkadot community approved a proposal to launch parachain auctions. They’re set to commence Nov. 11, with an initial 11 slots due to be auctioned. Eventually, Polkadot is expected to host 100 parachains in total.  The first 11 auctions will be split into two batches: the first batch will be auctioned weekly from Nov. 11, while the second batch will be auctioned fortnightly from Dec. 23. Each auction will last seven days.  The auctions will adopt a modified version of the candle auction format. The winner of each auction will be determined by which project has the most DOT backing it at a randomly selected point. Polkadot will use this methodology to prevent last-minute bidding wars. Parachain auctions can reward leases of up to two years, while leases up to six months are available for parathreads.  Initial Parachain Offerings Many different types of projects can run on a parachain. These include DeFi applications, digital wallets, Internet of Things applications, GameFi projects, and Web 3.0 infrastructure.  As the winning parachain slots go to projects with the highest DOT contribution at the end of the auction, many projects are unable to contribute enough DOT to secure a slot. This is where crowdloans come in.  The so-called “Initial Parachain Offering” (a play on Initial Public Offering for equities) allows DOT holders to contribute funds to a project they want to support, as long as they live in a region that is not restricted from participating in the crowdloan. Many crowdloans have already taken place on Kusama, with hundreds of projects hoping to integrate onto the Polkadot network. It is worth noting that the Web3 foundation could potentially influence the projects that win slots through grants or DOT contributions—it’s already funded several Polkadot projects.    Some projects have adopted strategies such as rewarding DOT contributors through airdrops. Any DOT contributed to a project for an auction gets locked until the lease expires. At that point, the project has the option to enter a new auction to win the slot again.  It is worth noting that Polkadot also has its own “Common Good Parachains.” Slots can be allocated if it is perceived to benefit the overall network, “without requiring a bond, in perpetuity.” Such slots might be filled by a sophisticated governance chain or bridges. …

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coinedict

SavAct announces its own payment system

SavAct offers users its own decentralized payment solution, allowing the seller and the buyer to interact securely, without fear of fraud from one or the other side. SavAct is a cryptocurrency project that allows using a smart contract to bind goods, services and other products for payment only if the seller fulfills his obligations in a quality manner.  The user has the ability to invalidate a payment transaction for a product or service within a certain period of time if the seller violates any conditions, such as the quality of the product. In such a case, the funds sent to the seller are withdrawn by the platform and distributed between the platform’s native token holders and miners, which supports the development of the system.  With such a mechanism, SavAct preserves the advantages of cryptocurrencies such as anonymity and decentralization, but guarantees users security during the transaction.  SavAct does not require registration or installation of an application, the user only needs to enter the wallet address and the transaction amount, as well as the term in which the seller must fulfill its obligations. This can also be done using a QR code. For vendors, SavAct is more profitable to use than, for example, PayPal and Amazon Pay,as savings on merchant fees are up to 78%. This allows to reduce the retail price of low-priced items to less than half, which also makes it a win-win solution for customers. You can find more details about SavAct on the official website: https://savact.com/ App: https://savact.app Telegram: https://t.me/SavActGroup Twitter: https://twitter.com/SavActHQ

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Ethereum Rally

Ethereum Corrects Lower, Why ETH Remains Supported For Fresh Rally

Ethereum traded to a new all-time high above $4,800 before correcting lower against the US Dollar. ETH could start a fresh rally unless there is a break below $4,650. Ethereum started a downside correction below the $4,750 and $4,700 levels. The price is now trading above $4,650 and the 100 hourly simple moving average. There was a break below a major bullish trend line with support near $4,800 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh increase if there is no break below $4,650. Ethereum Price Eyes Fresh Increase Ethereum extended rally above the $4,650 and $4,700 resistance levels. ETH gained pace above the $4,750 resistance zone and the 100 hourly simple moving average. The price even climbed above $4,800 and traded to a new all-time high. It traded as high as $4,839 and is currently correcting gains. There was a break below the $4,750 support level. Besides, there was a break below a major bullish trend line with support near $4,800 on the hourly chart of ETH/USD. It even traded below the 23.6% Fib retracement level of the upward move from the $4,346 swing low to $4,839 high. Ether price is now trading above $4,650 and the 100 hourly simple moving average. Source: ETHUSD on TradingView.com An immediate resistance on the upside is near the $4,720 level. The next major resistance is near the $4,750 level. A break above the $4,750 level may possibly spark a fresh rally. The next key resistance is near the $4,800 level. Any more gains could lead the price towards the $5,000 level in the near term. Dips Supported in ETH? If ethereum fails to climb above the $4,720 and $4,750 resistance levels, it could extend its downside correction. An initial support on the downside is near the $4,680 level and the 100 hourly SMA. The first major support is also near the $4,600 level. It is close to the 50% Fib retracement level of the upward move from the $4,346 swing low to $4,839 high. Any more downsides could lead the price towards the $4,540 support. The next major support for the bulls is near the $4,460 level. Technical Indicators Hourly MACD – The MACD for ETH/USD is slowly losing pace in the bearish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 level. Major Support Level – $4,650 Major Resistance Level – $4,750

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Picture of a bull running across a green chart with an upward trend line

Bitcoin Breaks Above $68,000, Where Does It Go From Here?

Bitcoin has set a new record high of $68,571 in the early hours of Tuesday. The asset has been rallying for a while now and has reached multiple milestones since then. October had proven to be just what the doctor for the pioneer cryptocurrency as a number of bullish news saw the digital asset bound towards a new all-time high. After hitting $67K in October, BTC had consolidated well below its record high for some time. However, this would not last. November came in with even better optics for the digital asset, leftover from its rally the previous month. With this, BTC had taken off on a slow but steady upward trend. Related Reading | JPMorgan Analysts Put Ethereum Fair Value At $1,500, With Bullish Outlook For Bitcoin This trend finally paid off when the price of the asset spiked on Tuesday, sending the price of bitcoin above the $68,000 resistance point. The spike saw BTC gain over $2,000 in value, sending it to the mid-$68,000. Buy Pressure Mounts On The Market Even with the price of the digital asset so high, buy pressure has not let up in the market. Short-term (20-day average) indicators point towards a 100% buy pressure on the market. This is going against the grain when it comes to bull markets where the asset hits a new all-time high. Usually, the arrival of a record high will signal sell pressure in the market as investors try to claim gains from their holdings but this is not the case. BTC hits new all-time high | Source: BTCUSD on TradingView.com On the medium term (50-day average), indicators remain identical to the short-term. The market is under 100% buy pressure in the medium, as the average volume sits at 44,143. Long-term (100-day average) however balances between buying and selling. With all pointing to an 88% buy average across the three terms. Spelling immense buy pressure in the market. These point to further upside being expected in the value of the asset. Bitcoin has now dropped down below its ATH, falling to the low $68,000 territory. Nevertheless, the correction points to BTC finding a landing point for another bounce upward. Further Indicators For Bitcoin The short term is looking incredibly bullish for bitcoin. The digital asset continues to trade well above the 100 and 200-day moving average. These indicators point to the rally being in full bloom. Analysts have put the price of BTC at $100,000 by the end of the year and if the market continues on this trend, then the asset may end up beating this before then. Related Reading | How Bitcoin Has Performed Compared To Top Stocks Market sentiment has also never been better. The Crypto Fear & Greed Index shows that the market is now deep in “Extreme Greed” territory. As investors rush into the market to get a piece of the action, it will only work to further push the price of BTC up, although major resistance is expected at $68,250. Featured image from Medium, chart from TradingView.com

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coinedict

AndusChain accelerates platform expansion

AndusChain, led by Professor Sung Jun Park, head of Dongguk University’s Blockchain Research Center, is stepping up efforts to expand its platform. AndusChain is known as the next-generation Korean Ethereum. AndusChain provides the most fair and reasonable network system among distributed ledger networks in the market through the deb consensus algorithm, and through this, it is rapidly attracting various DApps. Recently, it partnered with Seebox, a live commerce platform for small and medium-sized businesses and built its own e-commerce ecosystem using AndusChain’s DAON coin. This is the result of AndusChain’s solid platform infrastructure. In addition, on October 20, he established Davius to launch a real estate NFT business, and Professor Sung Jun Park is a speaker at government-led conferences and is actively conducting advisory activities. At the Seoul Data Conference held on the 26th, CEO Sung Jun Park presented the potential of the blockchain and cryptocurrency industry and the digital asset crypto economy considering future competitiveness and national competitiveness based on blockchain as a platform and examples.

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Cointelegraph Magazine

6 Questions for Daniela Barbosa of Hyperledger – Cointelegraph Magazine

We ask the buidlers in the blockchain and cryptocurrency sector for their thoughts on the industry… and we throw in a few random zingers to keep them on their toes! This week, our 6 Questions go to Daniela Barbosa, general manager for blockchain, healthcare and identity at the Linux Foundation and executive director of Hyperledger.At Hyperledger, Daniela is responsible for the overall strategy and operations of the organization, including staff, programs, expansion and the execution of Hyperledger’s mission. Daniela has more than 20 years of enterprise technology experience. She has a master’s degree in library (remember those?) and information science, which she put to work in the 1990s when the internet was becoming nascent for consumers and enterprises alike. An active voice in the industry, Daniela has been a featured guest speaker at many key blockchain conferences worldwide and advises the Hyperledger community on the use of open-source technologies.  1 — What is the main hurdle in the way of the mass adoption of blockchain technology?Onboarding. For enterprise blockchain, it is no longer a question of if the technology will work. We have seen plenty of proven enterprise networks across many use cases — in supply chain, trade finance, digital payments, healthcare and more. It is how those networks are governed as active growing networks beyond the POC stage and how you onboard a diverse ecosystem of both small and large players. In crypto, usability has a long way to go, as anyone who is not deep in the tech and has tried to set up their own wallet might tell you. Third-party services are certainly making some usability aspects easier, especially to buy and hold, but then we are getting ourselves back into the same game. 2 — Looking at the top 100 projects in crypto by market cap, which ones stand out to you — and for what reason?Great, thanks for the question. I just spent 30 minutes falling down the rabbit hole. There are more than a handful on that list today that are leveraging our Hyperledger ecosystem… However, I had to pick one, it is Ethereum. The Hyperledger community has been part of the Ethereum ecosystem since the Hyperledger Foundation started in 2016. From 2018 onward, we have worked closely with the key stakeholders defining Ethereum-based solutions and use cases in the enterprise. In early 2017, our Technical Steering Committee approved the Hyperledger Burrow project, which was our first Ethereum-derived project that supports the Ethereum Virtual Machine. Then, in 2019, we welcomed Hyperledger Besu, a code contribution by ConsenSys. Hyperledger Besu is an Ethereum client developed under the Apache 2.0 license and written in Java that runs on the Ethereum public network, private networks and test networks and is designed to be enterprise-friendly for both public and private permissioned network use cases. 3 — Do you subscribe to the idea of Bitcoin as a means of payment, as a store of value, as both… or as neither?I obviously subscribe to the idea of Bitcoin (BTC) as a means of payment, otherwise I wouldn’t have spent all my first Bitcoin in 2012…. Today, I think it is both a store of value and a means of payment, especially outside of the United States. Just wished I had stored more of it… 4 — Who makes sense to you, and who makes no sense whatsoever?The young climate activists who are fighting for their (our) right to live on a habitable planet make sense. We need to support climate action initiatives, in the streets and with global funding for innovation and sustainable development. People who stick with their “principles” without looking at facts and science make no sense. Even after being clearly proven wrong, they just double down. 5 — What was the most embarrassing moment of your life?I traveled halfway across the globe for a meeting, padding in about 36 hours before the meeting to be well rested. I then showed up two hours late because I had the wrong address and stayed at a hotel on the other side of town from the actual meeting location. Forever a Road Warrior. 6 — Think of a favorite poem or song lyric. What is it, and why does it speak to you?Bob Dylan’s “I used to care, but things have changed.” As Bob said when he received the Academy Award for best original song for “Things Done Changed” in 2001, it “obviously is a song that doesn’t pussyfoot around nor turn a blind eye to human nature.” Yes, indeed. People are crazy, and times are strange. A wish to the blockchain community:Keep building.

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coinedict

5 Easy Steps To Make $10 000 Per Month Trading On TurboXBT

Trading on TurboXBT, the short-term trading platform that guarantees instant profit within minutes requires more than meets the eye. In order not to sound too critical, TurboXBT is as easy as is being flaunted as the digital asset exchange is arguably one of such with the friendliest user interfaces around today. However, to stay consistently profitable requires some extra work, some of which will be discussed in this article. Back to the title again, $10,000 is a large sum of money, but it is easy to make. Traders, both new and old should first understand that there is no money making guarantees anywhere, however, with the continuous application of a winning strategy, it is very likely, and possible that a trader will remain profitable most of the times. The beauty of TurboXBT lies in the fact that it permits several traders to be entered and closed almost every 30 seconds. This implies that, provided the underlying market condition is favorable, a trader can enter as many 4 trades in an hour, if the maximum time frame permissible on TurboXBT is set. This high frequency margin makes it easy for traders to turn profits every now and then, when compared with other trading platforms/models in which trades are open for a much longer period of time. Here is a perfect example of a successful trade on TurboXBT; a user who commits $1000 to an UP contract on the BTC/USD pair for example at a payout rate of 55 to 90% will cart away with a total of $1,900 should the price of Bitcoin close upward within the defined time frame. At a positive close, the TurboXBT algorithm will calculate the percentage gain based on the price moves as influenced by the underlying market forces. The $1900 takehome encompasses both the trading capital, and a 90% return. Five 5 Key Drivers of Profitability This factors are more like the basic provisions on the TurboXBT trading platform that can aid the user in maximizing his earnings on the exchange. I am assuming that the users reading this post understands how to open an account on TurboXBT as well as how to enter into UP or DOWN contracts on the platform. This been established, let’s dive into the 5 factors in no particular order. Utilizing Demo Account A Demo account comes with every successful registration on the TurboXBT platform. Our internal research has shown that users who utilize these demo accounts are more likely to have stable and successful winnings compared to users who dive head-on into committing their funds.  The simplicity with which TurboXBT permits users to place trades should not serve as a yardstick for expertise, the journey to making $10,000 or any sustainable profit is dependent on how versed you are with how each trading pair moves, how fundamentals and technical analysis impact market movement, all of which can be practised beforehand with the demo account. Wide Range of Trading Pairs TurboXBT is designed as a one-stop-shop for all traders irrespective of the primary market they trade. The platform supports 17 assets cutting across cryptocurrencies, Forex, commodities and indices. Depending on the trader’s preferred strategy, it is essential to trade on a market one has a full understanding of the forces that move the market per time. Cryptocurrencies While still largely unregulated in many countries, digital currencies like Bitcoin (BTC), and Ethereum (ETH) represents some of the easiest avenues to record massive gains due to their inherent volatilities. Trading crypto must be preceded with enough practice as their impact could be bi-directional, and could make, or mar the user. Withdrawals and Time Frames As highlighted earlier, the shorter timeframes that TurboXBT permits can be used as a veritable tool by traders to record massive profits that can be placed on repeat. Trades on TurboXBT spans for as little as 30 seconds to a maximum of 15 minutes per trade respectively. TurboXBT does not take any commission on withdrawals, and by implication, traders can gain additional value on their winnings. The removal of withdrawal fees may be subjected to network charges which TurboXBT does not control. Either way, the empowerment provisions remains unmatched in the digital asset trading industry today. Blog TurboXBT has a dedicated blog post with a core focus, “to provide the right resources that can usher in our users to the path of profitability. At TurboXBT, we believe in the power of a rich library, and we are confident that utilizing our resources can add to the user’s potentials to record as much as $10,000 income per month. Conclusion In conclusion, TurboXBT provides one of the easiest and stress-free pathways to making a good and sustainable income per month. However, while the title connotes easy steps, the onus lies on the trader to do all due diligence in line with the factors highlighted, and other independent researches, before making and committing to a trading strategy.

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coinedict

Why Does MDEX Take the Lead to Launch the AMM-Based Order Book Function?

Recently, the decentralized exchange Mdex has announced the launch of its AMM-based order book trading function. DEX has achieved significant growth in 2020. As represented by Uniswap, it has captured a large number of users and trading volume through the combination of license-free token listing, AMM and liquidity mining. Top DEXs, such as by Uniswap and Dydx are on par with other leading CEX such as Binance. By decreasing the risks caused by single point of failures (e.g., as team problem and policy suppression), DEX relies on the AMM mechanism to eliminate counterparty risks and allow users to invest their disposable funds to gain benefits. Moreover, the apperance of license-free tokens is undoubtedly welcomed by all sorts of projects and investors with high risk appetite, since the former could enjoy a decreased cost for listing in an exchange and the latter could join a project at its early stage and have the opportunity to gain higher benefits. WHAT IS THE PROBLEM WITH AMM “SIMPLE TRANSACTIONS”? That being said, the current DEX is far from perfect. It overlooks the risks associated with smart contracts and is heavily based on the AMM mechanism, which is rather opaque to users who can only make immediate, priced transactions. They do not have the flexibility to respond in advance to possible changes in the market, and to protect themselves against risks, they have to keep close eyes on the market, which is particularly inconvenient in the derivatives trading. AMM also disarm market makers in front of risks, such as impermanent loss and greatly reduce their responsiveness towards extreme market trends. In addition, many people have encountered the MEV, “sandwich attack”, arbitrage bots that use high Gas to preempt the transaction. These practices not only lead to your repeated transaction failures but also push up prices. Many DEX programs have come up with different solutions to problems like low slippage and impermanent loss. However, since the revenue of LPs in AMM comes from transaction fees, the more valuable LPs you provide, the less revenue you get; otherwise, the higher the slippage, the worse the trading experience. Slippage essentially protects the interests of the LP at the expense of the traders’, while impermanent loss protects traders’ interests at the expense of the LPs. The result of this game is that the liquidity in AMM-based DEX is worese than the CEX. WHAT DIFFERENCE CAN MDEX ORDER BOOK MAKE? Mdex’s order book solution promises to provide users with more autonomy and predictability and allows them to trade more easily and with less risks. It is likely to be the starting point for DEX to challenge CEX’s leadership. Mdex’s order book mechanism, in addition to market orders, allows users to place limit orders, stop orders, etc. Users can also use this new function together with the already launched market function to view depth charts, positions, leverage ratios, etc.,—an experience comparable to that of CEX. Mdex has gathered more than $2 billion in TVL, and been deployed on Heco, BSC and ETH. Its daily trading volume has reached $800 million, ranking it among the top DEXs, such as Uniswap, Sushiswap and Pancake. COMBINING ORDER BOOK WITH AMM: THE BOUND ROUTE One of the reasons for the success of AMM mechanism is the high transaction fees and long transaction confirmation time on Ethereum. If DEX adopts the model of order book, the long waiting time and high fees will surely intimidate the majority of users. And at the same time, current blockchain market has seen the birth of several new public chains, such as BSC, and Ethereum Layer 2 that have been greatly improved and only charge low transaction fees. AMM, thus, seems to be redundant now. Order book transaction function that embodies multiple functions and have more sophisticated plans will be the new trend in DEX. As proved by traditional stock exchanges, suchas NASDAQ and other trading platforms, order book is arguably the most capital efficient and transparent trade execution model. The changes in Uniswap V3 already suggest that Uniswap is reducing the role of AMM and moving closer to the order book model. Its regional market making mechanism is already giving market makers to make their own choices and strategies. The next step is to allow traders to make strategies by themselves, that is, the order book function launched by Mdex at the moment. The fact that Uniswap boasts the highet cumulative transaction without liquidity mining shows that as long as the liquidity and depth are good enough, users will still choose your product. Mdex’s previous low slippage in large transactions has been recognized by the market. Mdex now is taking an earlier step than its competitors to launch the decentralized order book trading. This choice vividly shows its profound understanding of trading and deep insight into the overall trends of blockchain technology. As there are more applications are implemented and investors become more rational in the crypto industry, order book transaction can provide users with more sophisticated plans and therefore will unsurprisingly be more popular.

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Cointelegraph Magazine

$130M hack raises suspicions, Chinese miners head to Laos, Huobi’s moon mission – Cointelegraph Magazine

This weekly roundup of news from Mainland China, Taiwan, and Hong Kong attempts to curate the industry’s most important news, including influential projects, changes in the regulatory landscape, and enterprise blockchain integrations.  It was a quiet week in the mainland as much of the Chinese crypto community was either lying low, off in Lisbon, or recovering from a week-long hangover following the Shanghai Blockchain Week that concluded over last weekend.The largest blockchain-related news was the $130 million hack of DeFi platform Boy X Highspeed, or BXH for short. BXH is a decentralized exchange running on BSC, Ethereum, HECO, and OKEx.  🚨🚨We are sorry to announce that BXH was attacked on #BinanceChain. Other chains assets are safe. We are cooperating with BSC and Peckshield to follow up and trace.#BXH @HECO_Chain @BinanceChain @AnyswapNetwork @O3Swap @renprotocol @cz_binance @peckshield pic.twitter.com/jNo8C53DM0— BXH (@BXH_Blockchain) October 30, 2021  Even more peculiar than the platform’s name itself is the nature of the hack. It appears that the attacker somehow gained access to the admin key, which leads to plenty of questions about the security and decentralization of the project. Based on this and the fact that the Chinese project claims to have enlisted the help of Chinese law enforcement, there are suspicions it could be the result of an inside job. BXH has offered a large bounty of up to $10 million for those who can help return the funds.   This reward announcement was later announced on the BXH Twitter Huobi not giving up on moon missionVolumes on Huobi continued to drop, at times falling behind Coinbase Pro and Korean exchange Upbit. Last week Huobi was roughly 60% of the volume on FTX, but it sat on Wednesday at around 40%. It’s also around one-third the volume of major competitor OKEx. Huobi is now less than two months away from its own deadline to close accounts belonging to Chinese users. Huobi will need to dramatically reshuffle to win back the market share it has slowly lost to exchanges with fewer regulatory risks.   Even with falling volume, it’s hard to bet against the longstanding giant of CeFi  In a strong marketing push, Huobi has announced a contest to send one user into space onboard a private spacecraft. Not all the details were given, but this announcement comes as the exchange celebrates its eigth anniversary, making it one of the older trading institutions in the sector.  PlatOn claims a partnership with Google CloudOne of China’s more low-key public chains announced on Twitter it is partnering with the large cloud service provider Google Cloud:“We will work together to provide basic application technology and enterprise-level platform services for global users, as well as the research and development in blockchain technology, privacy protection, and ecosystem building.”The announcement didn’t gain much attention, as it’s unclear how much actual reciprocation is happening from Google Cloud’s end. Despite the announcement, the token was down around 6% on Thursday. Mining in Southeast AsiaThe Southeast Asia country of Laos is exploring cryptocurrency mining in the aftermath of China’s mining crackdown. A pilot project between the government and the private sector is expected to bring in roughly $194 million towards the country’s total domestic revenue projected for 2022. Laos shares a small southern border with China’s Yunnan province, an area where a lot of miners are still leaving following the announcement from the Energy Administration of Yunnan in June that clarified the national policy would apply to Yunnan itself. Contacts report that though a lot of miners have left China already, a portion has been laying low, waiting to see if the regulatory environment changes or a better opportunity presents itself. Countries like Laos are interesting potential destinations as regulations are still quite ambiguous. Traditionally, Southeast Asia has been home to a lot of China’s “offshore” businesses, such as gambling or casino games seeking to avoid regulations or law enforcement. CBDC gaining tractionChina’s central bank is once again boasting about the traction of its centralized digital currency, the e-CNY.  Announcements at Hong Kong’s Fintech week revealed that now more than 140 million people have access to accounts, with over 62 billion transactions processed. This is a large jump from the previous year and should come as little surprise considering the amount of trial programs that have been rolled out around the country. Many franchise restaurants and retailers are already advertising e-CNY at point of sale devices throughout the country.It seems likely that number will continue to rise, challenging private apps Alipay and WeChat, both of which claim over 1 billion users each. Supplanting those two will be a difficult task, mainly due to the feature-rich nature of the super-apps. However, the central bank currency surely has a lot more patience and the advantage of regulatory policy-makers that can tilt the market in its favor. 

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Chainlink’s total value secured surpasses $75B as DeFi continues to surge

Chainlink’s total value secured surpasses $75B as DeFi continues to surge

The total value secured by the Chainlink network has officially surpassed $75 billion, marking a new milestone for the decentralized oracle solution that has become synonymous with price data services for the rapidly growing DeFi sector. With the milestone, Chainlink has become “one of the most value securing forms of decentralized consensus on the planet,” according to protocol co-founder Sergey Nazarov. Chainlink is also one of the fastest-growing networks in all of crypto, with smart contract value secured growing by a factor of ten since last year. 2020 was a year of record growth for the #Chainlink Network. Here’s an overview of key metrics, like our adoption in #DeFi, implemented research, & blockchain integrations. Thank you to our great community and the amazing smart contract developers we are lucky to work with. OK;LG pic.twitter.com/4E543ALVX6— Chainlink – Official Channel (@chainlink) December 31, 2020 Chainlink, which is comprised of independent oracle nodes, has seen rapid uptake across several leading blockchains, including Ethereum, Binance Smart Chain and Avalanche. DeFi applications built on these and other blockchains use Chainlink oracle networks to power their smart contracts, bringing market data to on-chain financial applications. Related: Associated Press plans to launch Chainlink node to publish dataSince debuting its mainnet in May 2019, Chainlink has launched over 700 oracle networks, which have secured over 600 million data points across ten blockchains. As Cointelegraph reported in July, the oracle network has onboarded an average of 1.4 new partners each day in 2021.Demand for oracle services has grown exponentially with the arrival of DeFi, or decentralized finance. Measured by total value locked, or TVL, the DeFi sector is currently worth over $253 billion. The industry was virtually non-existent when Chainlink launched its mainnet two and a half years ago.The DeFi industry has charted exponential growth for the past two years. Source: defillama.comWhen asked about the growth of “metaverse” technology, which was punctuated by Facebook’s total rebranding to Meta, Sergey Nazarov told Cointelegraph that Chainlink “already powers multiple Metaverse applications across DeFi, NFTs and gaming.” He further explained:“We fully expect smart contracts to power the new relationships being formed in the metaverse, especially since these relationships need to be inherently trustless, due to the new level of identity that the metaverse makes possible.”Related: Axie Infinity, Decentraland and ‘metaverse’ cryptos rally after Facebook rebrands to MetaAs Nazarov explained, Chainlink is using the Cross-Chain Interoperability Protocol, or CCIP, to connect various universes. CCIP “will use Chainlink oracles to enable users to move digital assets and execute smart contracts across the various chains used throughout the metaverse,” he said, adding:“I anticipate the trustless metaverse does require trustless data, trustless off-chain compute and the ability to utilize multiple chains, all of which Chainlink is being heavily relied upon for already.”

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coinedict

Ethereum Remains In Uptrend, Here Are Next Possible Targets

Ethereum gained pace and traded to a new all-time high above $4,650 against the US Dollar. ETH corrected gains, but dips could be limited below $4,400. Ethereum gained pace above the $4,550 and $4,600 resistance levels. The price is now trading above $4,500 and the 100 hourly simple moving average. There is a key bullish trend line forming with support near $4,540 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh rally if it clears the $4,620 resistance in the near term. Ethereum Price Remains Supported Ethereum started a fresh increase above the $4,350 and $4,450 resistance levels. ETH gained pace above the $4,500 resistance zone and the 100 hourly simple moving average. The price even climbed above $4,600 and traded to a new all-time high. It traded as high as $4,668 before there was a downside correction. There was a break below the $4,600 level. Ether declined below the 23.6% Fib retracement level of the upward move from the $4,455 swing low to $4,668 high. It is now trading well above $4,500 and the 100 hourly SMA. There is also a key bullish trend line forming with support near $4,540 on the hourly chart of ETH/USD. An immediate resistance on the upside is near the $4,600 level. The next major resistance is near the $4,620 level. A break above the $4,620 level may possibly spark a fresh rally. The next major resistance is near the $4,700 level. Any more gains could lead the price towards the $4,800 level in the near term. Dips Supported in ETH? If ethereum fails to climb above the $4,600 and $4,620 resistance levels, it could start a downside correction. An initial support on the downside is near the $4,540 level. The first major support is near the $4,540 level and the trend line. It is close to the 50% Fib retracement level of the upward move from the $4,455 swing low to $4,668 high. Any more downsides could lead the price towards the $4,500 support. The next major support for the bulls is near the $4,450 level. Technical Indicators Hourly MACD – The MACD for ETH/USD is slowly losing pace in the bullish zone. Hourly RSI – The RSI for ETH/USD is now near the 50 level. Major Support Level – $4,500 Major Resistance Level – $4,620

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