SHIB led the latest memecoin rally amid overall altcoin market optimism. Memecoins was the best performing sector on a YTD basis. The altcoin sector has seen strong gains since the Fed pivot in mid-September, which has bolstered confidence in the market’s much-anticipated early innings. alternate season. But at press time, a familiar trend seemed to be emerging. Meme Coin dominance. Founder of Glassnode famous Likewise, early in the alt season, memecoins claim to be in the lead. In doing so, they emphasized: dogwifehat (WIF), Shiba Inu (SHIB)and Pepper (PEPPER) It is showing strong driving force. “We just entered altcoin season…
Author: Crypto Flexs
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Onyx, a fork of DeFi lending protocol Compound Finance, suffered a loss of $3.2 million on Thursday, marking the second time the protocol’s smart contracts have been exploited in the past year. According to security company Fuzzland, a malicious contract was distributed to Onyx at 11:57 a.m., about five minutes before the attack occurred. Competitors PeckShield and Cybers also took notice. suspicious Transactions at OnyxDAO before hacking. Cybers noted that most of the losses occurred in VUSD, a US dollar-denominated stablecoin. The suspected attacker also had 521 ETH worth about $1.36 million and was reluctant to exchange the stolen assets,…
Bitcoin has shown some bullish momentum over the past day, but one analyst has pointed out that the asset may currently be in a high-risk zone due to open interest trends. Bitcoin open interest has increased dramatically recently. As CryptoQuant Community Manager Maartunn explains in a new post on X, Bitcoin Open Interest has just surged to high levels. “Open Interest” is an indicator that tracks the total amount of BTC-related positions currently open on all derivatives exchanges. A rise in the value of this indicator means that investors are now taking new positions in the derivatives market. When this…
BNB Chain’s native token, BNB (BNB), soared to $614 on September 27, marking a 25.7% gain in three weeks. BNB closed above this level for the first time since June 2024, sparking speculation that the bullish momentum could expand further. However, some market participants said the rally was driven by the release of Binance founder Changpeng “CZ” Zhao from US custody after being detained for four months.BNB/USD (blue) vs. altcoin market cap (green). Source: TradingViewSince BNB’s performance closely mirrors the broader altcoin market over the past three weeks, there is little support for the theory that CZ’s launch is driving…
October has historically been a strong month for altcoins and cryptocurrencies in general. Building massive momentum thanks to growing demand and favorable market conditions, several altcoins are also inching closer to breaking previous all-time highs. This analysis highlights four altcoins poised for explosive growth in the coming months and how they could hit all-time highs in October 2024. The list includes LayerZero (ZRO), Sui (SUI), Binance Coin (BNB), and MANTRA (OM). ). Layer Zero (ZRO) LayerZero is a multichain interoperability protocol designed for cross-chain communication between blockchain networks. The native token, ZRO, is currently trading at $5.06, up 27.70% over…
Timothy Morano September 28, 2024 11:16 Learn the basics of yield farming, including how DeFi works, its importance, and potential risks, according to Gala News. Yield farming has become a cornerstone of decentralized finance (DeFi), giving users a way to earn rewards by staking digital assets. According to Gala News, this introductory guide aims to explain the basics of yield farming, its importance and the potential risks involved.What is Yield Farming?Yield farming is a popular concept in DeFi where users can earn rewards by lending or staking their cryptocurrencies on blockchain-based platforms. This process…
Bitcoin (BTC) hit $65,000 after the Wall Street open on September 26 as macro events in the United States fueled a rise in risk assets.BTC/USD 1-hour chart. Source: TradingViewBitcoin is on the rise as China adds to the risk asset craze.BTC price momentum hit a nearly two-month high of $65,521 on Bitstamp, according to data from Cointelegraph Markets Pro and TradingView.The gains continued as U.S. Treasury Secretary Janet Yellen raised hopes that the Federal Reserve would achieve a “soft landing” on inflation.In her interview with CNBC, Yellen painted an optimistic picture of the U.S. economy, a picture that Federal Reserve…
Sports and blockchain find synergies in Chiliz’s new venture. According to CoinGecko, the market capitalization of the SportFi token sector is approaching $2 billion. Since the return of the Champions League, Chiliz has recorded a 22% increase. Popular sports-focused blockchain Chiliz (CHZ) is entering a new era in the blockchain space with a new independent subsidiary. Chiliz Sports aims to foster new sports partnerships, hire blockchain developers passionate about sports, and leverage Chiliz Group’s expertise in the field. Top European Clubs Joining Web3 The Chiliz blockchain began supporting Socios.com, the most popular soccer fan token platform, in 2018. The Web3…
It’s Friday! In today’s Daily, Tornado Cash co-founder Roman Storm’s motion to dismiss was denied, with Senator Lummis saying Republican control of the Senate would benefit digital assets. bitcoin BTC -0.40% ETFs saw their biggest inflows since July.Meanwhile, the web3 version of MMORPG Maple Story wants to leverage nostalgia to attract players, writes Danny Park.Let’s get started.Tornado Cash co-founder Roman Storm will face trial after a US judge denied his motion to dismiss.A U.S. federal judge has ruled that Tornado Cash co-founder Roman Storm will face trial on money laundering charges from the DOJ after denying his motion to dismiss…
Crypto analyst Kevin Svenson believes Bitcoin (BTC) and altcoins will see significant gains for the remainder of the year. In a new video, Svenson told his 79,800 YouTube subscribers that Bitcoin and altcoins are poised for further gains in the coming weeks and months. According to Svenson, altcoin market caps appear to be repeating a pattern seen in the last cycle, when it took 157 weeks to trigger a large breakout rally. “Altcoin market caps have been consolidating throughout the year. In early 2024, altcoins had a huge rally through March, giving up all their gains and are now starting…