The cryptocurrency market has undergone significant changes, causing many analysts to caution against investing in altcoins. Historically, in bull markets, Bitcoin and Ethereum rose first, followed by altcoins. However, current events suggest a change in this pattern. Why it’s dangerous to buy altcoins now Quinn Thompson, founder of cryptocurrency hedge fund Lekker Capital, advises against investing in altcoins at this time. He pointed to several indicators of market instability, including high leverage and open interest, lack of panic buying, and stagnant stablecoin supply. He believes the market is experiencing increasing selling pressure, particularly from venture capital funds needing to raise…
Author: Crypto Flexs
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The ever-growing popularity of cryptocurrencies has come under fire once again, this time due to their environmental costs. A new report from Greenpeace casts a critical eye on the energy consumption of Bitcoin mining, directly criticizing the Wall Street financiers who support the industry. Wall Street’s dirty little secret? The report argues that traditional financial institutions are deeply intertwined with the environmental impacts of Bitcoin mining. Bitcoin itself operates on a decentralized network, but the large-scale mining facilities needed to secure the currency are funded and backed by Wall Street giants. The report said that despite the popular belief that…
Famous cryptocurrency exchange OKX announced plans to upgrade its wallet data service at 22:00 (UTC) on June 19, 2024. According to OKX, this upgrade is expected to cause temporary disruption to users. Upgrade details You may experience delays in updating your dashboard asset data during the upgrade. Additionally, wallet transactions and interactions may temporarily fail. OKX assured users that these issues are normal and expected during the upgrade process. Affected services include the OKX wallet app, wallet extension, and web dashboard. The upgrade is expected to complete within 30 minutes. OKX emphasized that no further…
If we do the research, you can get alpha!Get exclusive reports and key insights on airdrops, NFTs, and more! Subscribe to Alpha Reports now and enjoy the game!Go to Alpha ReportEthereum and BNB Chain Bridge Router Protocol have closed an oversubscription funding round to expand the bridge to more networks.Router Protocol, a modular cross-chain framework for building interoperable applications. By connecting different blockchain ecosystems, bridges play an important role in creating a more cohesive and streamlined network.It will be launched on the Polygon and BSC chains in 2022 with the goal of making life easier for future Web3 users.Router Protocol…
Since the rise of the cryptocurrency market, Cardano has steadily established itself as one of the largest cryptocurrencies in the industry by the price of its native ADA coin. However, despite its popularity among investors, it has not performed as well as other cryptocurrencies. In light of this, crypto expert Ben Armstrong, popularly known as BitBoy, shared his views on why the network is struggling. Cardano suffers from misinformation. One of the problems that cryptocurrency analysts have mentioned that Cardano has had over the years is the fact that there has been misinformation. Cardano has often been the target of…
Masternode hosting offers a deeper engagement with cryptocurrencies, allowing users to actively participate in blockchain networks and potentially earn passive income. However, it requires a certain level of technical expertise and a significant initial investment. While regular nodes primarily validate transactions on blockchain networks, masternodes take on additional responsibilities. These include facilitating faster transactions, contributing to network governance decisions, and enhancing overall network efficiency. Horizon is a notable example of a project that leverages masternodes to support its network operations. This article explores the concept of masternodes, detailing their functionality, various methods to earn income through masternode operation, comparisons with…
Sonic, A Solana brush -5.27% The gaming-focused Layer 2 network has raised $12 million in a Series A funding round. Sonic said Tuesday that Bitkraft Ventures led the round, with participation from Galaxy Interactive, Big Brain Holdings and others.The project began raising funding in April and closed earlier this month, Sonic founder and CEO Chris Zhu told The Block. Zhu said the round consisted of shares with token warrants, bringing Sonic’s fully diluted valuation to $100 million.As part of the deal, Bitkraft joined Sonic’s board of directors. The Series A round brings Sonic’s total funding to $16 million, having previously…
The closure of Terraform Labs and the $4.47 billion SEC settlement have revealed the consequences of cryptocurrency fraud. The incidents involving Kwon, Zhao and Bankman-Fried highlight the need for increased scrutiny of cryptocurrencies. While the successful launches of various cryptocurrency projects have been making headlines, the downfalls of some failed cryptocurrency companies have also attracted much attention. The Fall of Terraform Labs Terraform Labs, now led by CEO Chris Amani, announced its closure following a significant $4.47 billion settlement with the SEC. This turn of events has focused attention on Do-Do Kwon, founder of Terraform Labs, which developed one of…
XRP recently experienced a temporary recovery amid continued market volatility. After downward pressure continued for a while, XRP price rebounds, giving traders and investors some respite. This recovery takes place within the broader context of fluctuating market conditions driven by a variety of factors, including regulatory developments, market sentiment, and overall cryptocurrency market trends. Despite these positive moves, the market remains unpredictable and it is unclear whether XRP’s recovery will last in the long term. Investors are closely monitoring the situation and analyzing technical indicators and external factors to gauge the potential trajectory of XRP in the future. In this…
Aethir, a Decentralized Physical Infrastructure Network (DePIN) provider, announced the launch of its decentralized cloud computing network on the Ethereum mainnet. Enterprises, data centers, other cloud providers, and cryptocurrency mining operators can contribute their idle GPU resources to Aethir’s network of GPU-as-a-Service solutions. Co-founder Mark Rydon emphasized the importance of the mainnet launch: “By providing a scalable framework for redistributing idle computing resources, we can power more innovation in the rapidly evolving areas of AI, ML and cloud gaming. On mainnet, high-quality companies can contribute to the Aethir network and increase access to the current GPU supply.”Related: MetaMask enables pooled…