The SOL/ETH ratio (a ratio that measures the value of one Ether token per one Solana token) hit a new all-time high this week amid market turmoil that has seen cryptocurrency prices plunge. According to TradingView data, the Solana (SOL) to Ether (ETH) ratio hit a new high of 0.0595 on August 6. SOL/ETH hit a new high of 0.059 on August 6. Source: TradingViewThis came in the wake of the brutal $500 billion cryptocurrency sell-off, which was caused by turmoil in traditional financial markets, excessive selling by Jump Crypto, and broader macroeconomic uncertainty..Ether plunged as much as 22% on…
Author: Crypto Flexs
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Bitcoin (BTC) is on the verge of falling back below $50,000 as a massive daily candle wick shocks analysis.Popular trader CrypNuevo recently warned in a X report that recent BTC price volatility could lead to Bitcoin hitting six-month lows.BTC price history shows that the wick will be “filled” in a few days.Bitcoin managed to bounce back above $5,000 from its low of $49,500 recorded on August 5.However, there is still no consensus on where BTC/USD is headed next, with opinions diverging as the day’s dismal losses subside.There is reason for concern for CrypNuevo, as he points out that historically, large…
Ronin Network Shuts Down Bridge Operations After $9.8 Million Breach According to the initial update, it is likely a white hat hacker. Ronin, the blockchain network for gaming and powering the Axie Infinity game, has announced that it is temporarily suspending its bridge. The August 6 announcement comes amid a whitehat hacking campaign that is believed to have resulted in over $9.8 million being stolen via MEV bots. What happen? The Ronin exploit reportedly allowed attackers to steal 3,996 Ether (ETH) tokens from the blockchain. The on-chain security platform warned the community about the suspected hack in a post published…
Ethereum Ethereum -1.12% Scaling solution Turbo Protocol has launched a new blockchain capable of processing 400,000 transactions per second, the team announced Tuesday at the Blockchain Application Stanford Summit. That’s about 4,000 times faster than high-throughput chains like Solana.The Turbo team said in a press release that the project is one of many new efforts to experiment with “parallel transaction processing,” a process that records multiple transactions simultaneously “as opposed to sequentially as is currently done on Ethereum.” For comparison, the Ethereum-based layer handles about 20 to 30 transactions per second, while competing network Solana handles just over 1,000 transactions…
In the event of a major market crash, the TradFi platform will face downtime. The Solana network is resilient despite past issues. Solana has previously struggled with extreme volatility in trading. The recent market crash, which saw Bitcoin drop below $50,000, has created frenzied activity in both the cryptocurrency markets and traditional financial institutions (tradFi). Such times test the reliability of blockchain networks and traditional web infrastructure. This time, blockchain networks have performed better. Despite having suffered technical issues in the past and multiple network-level outages over the past few years, Solana has performed strongly during the recent crash, while…
Louisa Crawford Aug 6, 2024 22:24 Binance launched the ‘Word of the Day’ game, allowing users to earn Binance Points by testing their knowledge of account security. Binance has launched a new ‘Word of the Day’ (WOTD) game that aims to educate users about account security while giving them the opportunity to earn rewards. According to Binance, participants will be able to share in a pool of 500,000 Binance Points, which can be exchanged for BNB token vouchers and trading fee discounts on the Rewards Hub.Game Details and ParticipationThe WOTD game is designed as…
Clicker games are about to take a ‘significant’ downturn. Andrew Saunders, chief growth officer at SKALE Labs, said clicker games like Catizen and Tapswap would likely lose their appeal if the current batch of tokens were released, as the games would likely not be able to sustain the hype. Sanders told Web3 Gamer that many people are flocking to cryptocurrency idle clicker games (also known as tap speculation games) because of “airdrop speculation,” meaning they are hoping to make massive crypto profits later on through airdrops. Clicker games are the latest phenomenon in crypto, and some of these simple games…
Ethos XEthosX, a revolutionary platform for trading derivatives on the blockchain, is reshaping the derivatives trading industry. Backed by prominent investors such as Franklin Templeton, Y Combinator, Token Metrics Ventures, Ascensive Assets, Global DeVC, Taisu Ventures, and others, EthosX is solving the long-standing challenges of complexity and inefficiency in derivatives trading. Derivatives trading, especially options trading, has historically A complex and opaque process. Retail traders often find it overly complex due to its limited scope beyond speculative trading. Institutional traders face concerns about high costs, particularly low volumes, and the risks associated with centralized exchanges. In addition, existing decentralized derivatives…
Cryptocurrency expert Chris Burniske reaffirmed his confidence in Ethereum (ETH) competitor Solana (SOL), confirming his future price prediction despite the bear market. Late last month, Burniske, a partner at crypto venture firm Placeholder, said that a $1,000 price target for SOL could look “conservative” going forward. Since his prediction, Solana has undergone a significant price correction, dropping to around $180 and is trading at $129 at the time of writing. But Burniske says: “It’s still the case. It’s not swayed by short-term price movements.” He doubled his $1,000 SOL prediction, saying that when Solana was trading at $8, many people…
Company • August 6, 2024 4:50 PM EDT Posted 1 minute earlier In ~ Updated: August 6, 2024 4:54 PM EDT Nasdaq and BlackRock, the world’s largest asset manager, plan to list and trade options on their spot Ethereum exchange-traded fund (ETF).In a filing posted on the Securities and Exchange Commission site on Tuesday, BlackRock and Nasdaq ISE, LLC proposed rule changes to list and trade options on the iShares Ethereum Trust (ticker ETHA).”The Exchange believes that offering the option to the Trust will benefit investors by providing them with an additional, relatively low-cost investment tool to gain exposure to…