CoinDCX, a popular Indian cryptocurrency exchange, has launched a $6 million (Rs 5 billion) investor protection fund after its rival WazirX was recently hacked for $230 million.This fund Cryptocurrency Investor Protection Fund (CIPF)It is designed to compensate users for losses that occur in rare circumstances, such as a security breach or other adverse event.CoinDCX will contribute 2% of its brokerage revenues annually to the CIPF Fund, with plans to increase the size of the fund over time. The initiative aims to strengthen trust and security in the Indian cryptocurrency ecosystem.CoinDCX announced its launch on X. “We are here to set…
Author: Crypto Flexs
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CryptoQuant CEO Ki Young-joo still believes altcoins can shine despite challenging macroeconomic headwinds. Last week, Youngju predicted that alt season would begin in late 2024 or early 2025. After a weekend and Monday where crypto and stock prices plunged, the analytics firm CEO reiterated this week that his predictions for altcoins were not based on the macroeconomic environment. “It is still unclear whether Bitcoin is in a long-term bear market. If BTC stays above the $45,000 level, I think the market could recover at any time. Everyone knows the macro environment is unfavorable, and I am no exception. However, my…
Jessie A Ellis Aug 7, 2024 03:23 Conflux (CFX) v2.4.0 network hardfork upgrade featuring CIP-1559 activation has been successfully completed. CIP-136 will be activated until August 13th. According to the Conflux forum, the Conflux v2.4.0 network hard fork upgrade has been successfully completed, marking a significant milestone for the blockchain platform. The upgrade includes the activation of CIP-1559, an important improvement proposal aimed at improving the efficiency and stability of the network. Key features of the upgrade CIP-1559 introduces an optimized fee mechanism designed to improve transaction processing and network stability. The newly activated…
Dogwifhat (WIF), a Solana-based Mimecoin project, rose 13% in a single day, reaching a high of $1.77 on August 6. This is part of a rally that followed a 63% drop in the WIF price from its all-time high of $2.89 two weeks ago. According to data from Cointelegraph Markets Pro and TradingView, WIF rose 66% from its low of $1.07 on August 7 to an intraday high of $1.77 on August 6.WIF/USD daily chart. Source: TradingViewIn comparison, according to data from CoinMarketCap, while most of the largest cryptocurrencies by market cap in the sector recorded losses on August 7,…
Grayscale Investments has launched two new cryptocurrency trusts for Bittensor (TAO) and Sui crypto (SUI), further strengthening its commitment to the blockchain industry. Launched on August 7, this new option gives accredited investors the opportunity to get early access to cutting-edge tokens before they are launched as formal exchange-traded funds (ETFs). “With the launch of the Grayscale Bittensor Trust and the Grayscale Sui Trust, we continue to provide investors with familiar products that enable access to cutting-edge tokens in the ongoing evolution of the cryptocurrency ecosystem,” said Rayhaneh Sharif-Askary, Head of Product and Research at Grayscale. Why Grayscale Wants More…
Popular analyst and cryptocurrency expert Mystery of Crypto has selected 10 altcoins with strong potential amidst ongoing market uncertainty. Cryptocurrency markets are actively recovering from Monday’s shock, and some believe this is a good time to buy promising assets. Altcoin Selection for Optimal Performance in Market Turmoil Amid market fears, the crypto industry has seen over $1 billion liquidations, the biggest single-day drop since the FTX scenario in November 2022. For stability and growth prospects, the analyst has identified 10 altcoins that are safer bets in uncertain market conditions. Toncoin (TON) Toncoin is a first choice given the number of…
US-listed Bitcoin miner Core Scientific Net loss reported at $849 million In the second quarter of 2024, it recorded a net loss of $9.3 million compared to the same period last year. According to its latest financial report filed Wednesday, the massive loss was primarily driven by a mandatory $796 million “non-cash market value adjustment” on warrants and contingent value rights, which Core Scientific issued over-the-counter CVRs, as a result of the stock price increase. Chapter 11 Creditors During Bankruptcy Proceedings In 2024.The company mined 1,680 bitcoins (worth about $92 million) during the quarter, a significant decrease from the previous…
Alvin Lang Aug 7, 2024 08:29 Learn how to write your first BitTorrent Chain (BTTC) smart contract and understand core concepts like state variables and public functions. According to BitTorrent Inc., they have released a beginner-friendly guide to writing smart contracts on the BitTorrent chain (BTTC). The guide aims to help new developers understand the basics of blockchain development through a simple ‘Hello World’ project.Contract: Small in size but big in potentialThis tutorial provides a concise, yet powerful HelloWorld contract.// SPDX-License-Identifier: MITpragma solidity ^0.8.17;contract HelloWorld string public greet = “Hello World!”;function getGreeting() public view…
BlackRock recently bought $199 million worth of ETH, taking advantage of the price drop. Although some accumulation has been observed, particularly in whales, the retail industry remains fearful. Given the latest discounted Ethereum (ETH) price, it is expected that buyers will return to the market. Unless more selling pressure is expected in the future, it is essential to follow the activity of the ETF as it has driven demand for ETH. Recent data shows that bears are in a downtrend after their aggressive attack on the market last week. Some Bitcoin (BTC) ETFs are taking advantage of this, with BlackRock,…
The Bitcoin price rose 5.5% on August 6, but struggled to hold above $57,000 despite positive momentum in traditional financial markets. On August 7, the Euronext 100 index rose 2.2%, while oil prices surged 2.8%. This suggests that the Bitcoin (BTC) price correction is due to market-specific factors rather than global economic conditions, with derivatives indicators indicating a lack of enthusiasm.Spot Bitcoin ETF and ‘Mr. 100’ Fund Outflows Spark ConfusionSome analysts say Bitcoin’s weakness is due to whales reducing their positions after a long period of accumulation, including a prominent group known as “Mr. 100.”source: BitcoinatorAccording to Bitcoinator data, the…