User activity on Shiba Inu (SHIB)’s Layer 2 (L2) platform, Sibarium, continues to decline, with network demand plummeting to a monthly low on Monday. This comes despite the prolonged decline in the value of Bone ShibaSwap (BONE), the token used to pay transaction fees on the network. BONE’s value has plummeted by more than 11% in the past month, but this hasn’t done much to attract users to L2. Sibarium Fails to Retain Users Shibarium is a L2 blockchain built on top of the Ethereum network, designed to improve the Shiba Inu ecosystem. According to data from Shibariumscan, user activity…
Author: Crypto Flexs
Read More
Crypto whales are positioning themselves for the next market expansion of altcoins, according to CryptoQuant’s CEO. Kiyoung Joo told his 358,000 followers on social media platform X that whales are now setting limit orders for altcoins on centralized exchanges (CEX). Ju explains that whales, institutions and other large firms prefer to use limit orders instead of market orders to avoid slippage and get the best possible price. Limit orders are used to buy an asset at a predetermined price. They do not move until the asset reaches the desired level. Market orders, on the other hand, are used to buy…
Bitcoin (BTC) broke above $56,000 at the opening of Wall Street on August 7, raising concerns about a lack of support.BTC/USD 1-hour chart. Source: TradingViewBitcoin Fights Death Cross and Liquidity ShortageAccording to data from Cointelegraph Markets Pro and TradingView, the BTC price rally is stalling, with BTC/USD remaining unchanged from its daily opening price.Bitcoin is still up about $7,000 from its six-month low recorded on August 5, but continues to worry market observers amid uncertainty.After analyzing the order book situation on the exchange, trading resource Material Indicators concluded that the price could move in either direction depending on the current…
Stablecoin • August 7, 2024 10:00 AM EDT Updated: August 7, 2024 10:15 AM EDT Athena This one -6.15% Labs announced that users can now buy and sell USDe stablecoins thanks to the new integration. Solana brush +3.07% .The company said,According to the statement, “We are confident that this integration (with Solana) will significantly increase the adoption of USDe and sUSDe, and provide an entirely new marketplace for traders to offer reward-earning assets in sUSDe. This is a significant improvement over the existing stablecoin experience.”Ethena also added SOL as a supported asset. In April, Ethena Labs added Bitcoin as a…
XRP appears poised to extend its recovery and rally another 10%. However, selling pressure still existed and the market remained cautious overall. Ripple (XRP) It looks set to reverse some of its recent losses after bouncing off a key high chart demand level above $0.40. Between the recent low of $0.43 and the press value of $0.51, XRP has gained over 18%. Additional market improvement could help bulls gain another 10% after converting potential resistance into support. XRP Price Prediction Shows Potential 10% Rise Source: XRP/USDT, TradingView The recent decline is marked by a long candlestick wick, and the weekly…
Ted Hisokawa Aug 7, 2024 10:21 The launch of the Ethereum ETF represents a significant milestone, making Ether accessible through a familiar investment tool. Major financial institutions have shown interest. The introduction of an Ethereum (ETH) ETF represents a major breakthrough, making Ether more accessible to investors through a familiar investment tool. According to blog.bitfinex.com, the participation of prominent financial institutions such as BlackRock and Fidelity has strengthened Ethereum’s legitimacy and appeal. Ethereum ETF Launch vs Bitcoin ETF Comparison On July 23, 2024, the Ethereum ETF officially launched on the market, allowing investors to…
Bitcoin (BTC) set a new minimum BTC price target this week, but achieving it doesn’t mean the bulls have completely lost their pressure.Popular trader and analyst Rekt Capital recently said in an article published on X that Bitcoin’s next weekly close should hit $59,000.BTC price faces undefeated resistance barrierBitcoin is trying its best to recover after falling to a six-month low of $49,500 this week, but it could easily be taken back by bears.Rekt Capital analyzed the long-term picture for BTC/USD and identified the possibility of a continued rebound in the BTC price, maintaining the same level as the move…
Nexera Protocol suffers another smart contract security breach, causing $1.5 million worth of digital assets to be lost.According to a post by Cyvers on August 7, Nexera, a decentralized finance (DeFi) protocol that aims to bridge DeFi with traditional finance, was hacked, resulting in the theft of $1.5 million worth of Nexera (NXRA) tokens.”Our systems have detected suspicious transactions involving your proxy contract. An address has taken ownership of your proxy contract and upgraded it. Shortly afterwards, that address used the withdrawal control function to transfer all of your $NXRA tokens.”Nexera exploit. Source: CyversWhile the $1.5 million loss is a…
Disclosure: This article does not constitute investment advice. The content and materials presented on this page are for educational purposes only. While Ripple (XRP) and Litecoin (LTC) prices remain at yearly lows, the DTX exchange (DTX) has emerged as a safer option for investors. After the Japanese stock market crashed and triggered a global meltdown in various economic sectors, Ripple and Litecoin emerged as the biggest losers. Despite the recovery in price today, the prices of both projects are well below 2023 levels and are struggling with historical losses and investor sell-offs. Meanwhile, DTX exchange holders remain calm about the…
Ark Invest made $3.9 million on Tuesday by buying an additional 19,892 Coinbase shares across three exchange-traded funds (ETFs) to rebalance the fund’s weightings following Monday’s market crash.The investment firm led by Cathy Wood bought 13,833 shares worth $2.7 million in the Innovation ETF (ARKK), 2,743 shares worth $533,000 in the Next Generation Internet ETF (ARKW), and 3,316 shares worth $644,000 in the Fintech Innovation ETF (ARKF), according to Ark’s latest trading filing.The latest acquisition follows $17.8 million worth of Coinbase shares that Ark bought with the same fund on Monday. This is the first time the company has bought…