that Celestia Tia +14.57% The Foundation, an organization primarily responsible for modular blockchain networks, has raised $100 million in a round led by Bain Capital Crypto. Syncracy Capital, 1kx, Robot Ventures, and Placeholder participated in the round, bringing the foundation’s total funding to $155 million. Launched in October 2023, Celestia is a network designed to help scale by offloading the data requirements of other blockchains. Its “data availability sampling” technology allows users to validate large blocks without having to download all the data. Network developers recently announced plans to scale Celestia to 1-gigabyte blocks (by comparison, the average Bitcoin block…
Author: Crypto Flexs
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Analysts suggest that altcoin season is upon us as Bitcoin’s dominance shows signs of waning. Recent asset price performance has further fueled speculation about an altcoin season. The recent changes are a result of the favorable macroeconomic environment for risk-taking. Last year, the cryptocurrency market experienced a significant resurgence, but it still doesn’t feel like a true bull market cycle, with most altcoins, including Ethereum, remaining well below their previous highs. However, with Bitcoin’s recent dominance in market cap waning, analysts are suggesting that it may finally be time for these altcoins to surge.Is altcoin season upon us?Bitcoin faces rejection…
Alvin Lang 23 Sep 2024 04:15 Layer 2 blockchains increase the speed and reduce costs of layer 1 chains like Ethereum, thereby increasing the scalability of Web3. Layer 2 (L2) blockchains are solutions designed to improve the performance of existing Layer 1 (L1) blockchains, such as Ethereum. Similar to secondary roads built to ease traffic on busy highways, Layer 2 technologies aim to make transactions faster, cheaper, and more scalable. Why do we need 2 layers? Popular blockchains like Ethereum Bitcoin Due to network congestion, we often experience slow transaction speeds and high fees.…
Experts predict that lower interest rates will increase liquidity in the financial system and attract investors to cryptocurrency assets.On September 18, the Federal Reserve announced that it would cut its benchmark interest rate by 50 basis points to 4.75%-5.00% for the first time in four years, which was in line with Wall Street expectations. This decision has significant implications for various financial markets, including cryptocurrencies.Historically, lower interest rates tend to drive up asset prices by reducing borrowing costs and improving investor sentiment. In the case of cryptocurrencies, the increased liquidity resulting from lower interest rates can stimulate demand and drive…
DeFi Exploit: $230K Reportedly Lost According to a September 23 post from blockchain security platform TenArmor, hackers compromised decentralized finance protocol Bankroll Network on September 22, stealing $230,000. TenArmor has published an image of the attack transaction, showing numerous BNB transfers from the BankrollNetworkStack contract to itself, each worth $9,679,645.51. The other two transfers are for $9,435,877.94, one of which originates from the PancakeSwap exchange pool and goes to an account ending in “47D7”, and the other originates from the account “47D7” and goes to the BankrollNetworkStack contract. The difference between the equity transfer and the account transfer amount is…
Bitcoin price gained pace above the $62,500 resistance level. BTC even broke through the $63,200 level and is now consolidating its uptrend above $63,500. Bitcoin is gaining momentum above the resistance level of $63,200. The price is trading above $63,400 and the 100-hour simple moving average. According to data provided by Kraken, the downtrend line connected with the resistance level at $63,220 on the hourly chart of BTC/USD has broken. The pair could extend its uptrend if it remains above the $62,500 support zone. Bitcoin Price Extends Rise Above $63,500 Bitcoin price extended its uptrend above the $62,500 level. BTC…
Ethereum Ethereum +3.31% Since the Federal Reserve cut the federal funds rate by 50 basis points last Wednesday, Ether has outperformed Bitcoin. Since the U.S. central bank cut rates for the first time in four years, Ether has risen more than 16%, while Bitcoin has risen about 6% over the same period.According to Coinglass data, the Ethereum perpetual futures funding rate turned positive after the U.S. Federal Reserve cut interest rates last Wednesday, currently sitting at 0.0082%.Ruslan Lienkha, head of markets at cryptocurrency exchange YouHodler, told The Block that while this suggests bullish market sentiment for ether, there is also…
Cryptocurrency analyst Ali Martinez says the time is fast approaching when altcoins will outperform Bitcoin (BTC), and Dogecoin (DOGE) could be the one to benefit. Martinez told his 71,900 followers on social media platform X that Bitcoin dominance (a measure of BTC’s market cap relative to the rest of the crypto) is currently nearing the end of a rising wedge, as a price break below a support level is traditionally considered a downtrend. At the same time, Martinez says the OTHERS chart, which tracks all crypto assets except stablecoins and the top 10 coins, is breaking out of a falling…
James Ding 23 Sep 2024 12:46 Get insights into decentralized AI, the importance of Ethereum ETPs, and legal defenses for cryptocurrency creators, according to a16z crypto. Artificial intelligence (AI) and Cryptocurrency As they become more relevant, experts are discussing how these technologies can be mutually beneficial. According to a16z crypto, the deployment of larger computing power for AI training gives large companies an advantage over startups. To level the playing field, startups need to have affordable access to large computing power. Gensyn’s co-founders emphasized the importance of building a decentralized, permissionless machine learning protocol…
SUI outperformed most coins and took the top spot in weekly returns. As a result, if this trend continues, LTC’s market positioning could be challenged, but what are the odds? SUI (SUI) ended the week as the biggest gainer among the top 25 tokens, up 49% to $1.62. Currently ranked 21st, SUI’s gains have analysts speculating about its potential to replace Litecoin, which rose 8% to $68.49. With SUI targeting a March ATH of $2.09, the odds are increasing that it will overtake Litecoin in the top 20. SUI is overcoming adversity, but there are problems. Source: Coinalyze On the…