Re-staking protocol EigenLayer’s slashing testnet was launched on December 20, and mainnet launch awaits approval of EigenLayer Improvement Protocol-002 (ELIP-002). The potential slashing upgrade introduces unique stake allocations for node operators and operator sets for EigenLayer’s Actively Validated Services (AVS).EigenLayer’s Actively Validated Services is a project that leverages the security of the Ethereum layer-1 network to validate off-chain services.More specifically, Ether (stETH) staked on Ethereum L1 serves as staking collateral across the blockchain ecosystem without having to unstake the asset from L1.Unique stake allocation allows the re-staking operator, EigenLayer’s re-staking validator, to minimize cut risk by designating a portion of…
Author: Crypto Flexs
Cryptocurrency prices soared, with major coins such as Dogecoin (DOGE), Solana (SOL), Cardano (ADA), and Ethereum (ETH) leading the losses amid a widespread market sell-off triggered by the Federal Reserve’s latest economic outlook. It crashed this Friday night.Jump into cryptocurrency price adjustmentBitcoin and other major cryptocurrencies have given up significant recent gains as markets continue to adjust following the Federal Reserve’s updated economic outlook.Bitcoin (BTC) fell to $95,875 on Friday, down sharply from Tuesday’s high of $108,268. The top cryptocurrency fell 4.6% in the last 24 hours, but several other high-value cryptocurrencies recorded much steeper losses.Dogecoin (DOGE), the top meme…
Coincidentally, the Bitcoin (BTC) daily chart generated three consecutive red candles for the first time since the first week of November, ahead of Donald Trump’s victory in the US presidential election. Another similarity to the last time we observed three or more red candles on the daily chart is that Bitcoin has retested the 50-day EMA level.Bitcoin 1 day chart. Source: Cointelegraph/TradingViewWith the price of BTC down more than 15% since its all-time high, one analyst said most of the decline for the largest cryptocurrency is potentially over. Analyst Says Bitcoin Correction Is “Almost Complete”With the price of Bitcoin falling…
Solana’s network activity is gaining momentumThe cryptocurrency market is always evolving, and Solana (SOL) is often in the spotlight. Its appeal lies in its lightning-fast transaction speeds, low costs, and growing ecosystem. Recently, Solana has signaled a steady surge in network activity, signaling a growing demand for blockchain technology.Factors driving this growth include:Expanding the NFT ecosystem: Solana has become the preferred blockchain for non-fungible tokens thanks to its low fees and fast operations. Marketplaces like Magic Eden are thriving as creators and collectors flock to the platform.DeFi adoption: Decentralized finance (DeFi) protocols such as Raydium, Serum, and Marinade Finance continue…
A widely known cryptocurrency analyst and trader said that altcoins in the Solana (SOL) ecosystem are at a critical time. The analyst, who goes by the pseudonym Sherpa, tells his 234,700 followers on social media platform According to Sherpa’s POPCAT chart, the Solana-based memecoin has formed a head-and-shoulders pattern on daily time frames and appears likely to crash if it fails to hold support levels. The head and shoulders pattern is generally considered a bearish pattern in technical analysis. Source: Sherpa/X POPCAT is trading at $0.802 at the time of this writing, up 21,147% from its January 5 low of…
Bitcoin (BTC) has found relief since the Wall Street open on December 20 as massive leverage flushes continue to punish bulls.BTC/USD 1-hour chart. Source: Cointelegraph/TradingViewBTC price retests December lows as leverage evaporates.Data from Cointelegraph Markets Pro and TradingView shows BTC/USD recovering above $96,000 on Bitstamp.Bitcoin, still down 1.5% on the day, offered difficult trading conditions but took a long time to pay out as the market clawed back to $92,000 lows from early December.“A series of support losses actually occurred,” popular trader and analyst Rekt Capital wrote in part of his market coverage of X on the day.“With this decline,…
contributor Posted on: December 20, 2024 XRP is down 2.82% in the last 24 hours. Ripples whale buys 110 million XRP tokens worth $242 million. Over the past 24 hours, the cryptocurrency market has experienced strong downward pressure. XRP was not spared as most altcoins declined after BTC fell to $95,000. During this period, Ripple (XRP) suffered a sharp decline and hit a low of $2.15. The decline has created a buying opportunity among investors, especially whales. So the whales shifted to buying the dip. Ripple Whale Buys a Dip In his analysis, Ali Martinez observed that Ripple’s whales switched…
Disclosure: This article does not represent investment advice. The content and materials presented on this page are for educational purposes only. Analysts are predicting a surge in the price of Shiba Inu and Ripple despite the market downturn, with the new coin delivering an impressive 700% rise. The cryptocurrency market has witnessed a sharp correction following a strong bull market that began in November. This decline affected the prices of Shiba Inu (SHIB) and Ripple (XRP). Nonetheless, analysts predicted prices could rise in the coming weeks. SHIB could rise to $0.0004729 and XRP could rise to $2.78. Meanwhile, Intel Market,…
The number of stablecoins pegged to the Ethereum layer 2 network has hit an all-time high, showing growing demand for cryptocurrencies. Stablecoin supply on all blockchains is led by Tether (USDT), USD Coin (USDC), and Ethena’s stablecoin USDe.As of December 20, the Ethereum blockchain held $13.5 billion worth of stablecoins, according to data from Tie Terminal, a cryptocurrency data platform for institutions, and Cointelegraph Markets Pro. Total stablecoin circulation has surpassed $205 billion, demonstrating the ecosystem’s growing relevance in real-world use cases.Changes in total stablecoin supply due to blockchain. Source: TIE TerminalIn a December 15 post on It highlighted that…
U.S.-listed spot Bitcoin (BTC) exchange-traded funds (ETFs) recorded record outflows on Thursday, while CME futures premiums fell into single digits amid signs of weakening near-term demand.Investors withdrew $671.9 million in net assets from 11 ETFs, ending the 15th consecutive day of inflows, according to data from Coinglass and Farside Investors. This is the largest single day since the launch on January 11th.Fidelity’s FBTC and Grayscale’s GBTC led the outflow, with losses of $208.5 million and $188.6 million, respectively. Other funds also recorded outflows, with BlackRock’s IBIT hitting zero for the first time in weeks.Bitcoin extended its losses after the Fed…