Crypto
ETH, ADA and SOL are the top 3 smart contract tokens you can buy on January 24, 2022
Ethereum (ETH), Cardano (ADA), and Solana (SOL) are all projects that enable smart contracts. Each of them has potential for growth in the upcoming months. Each blockchain network and ecosystem provides many benefits to dApp developers. Ethereum (ETH), Cardano (ADA), and Solana (SOL) are all tokens that enable smart contract functionality. This enables decentralized application (dApp) developers to truly build scalable dApps and has contributed to the growth of the dApp ecosystem of each blockchain network. These are the top 3 tokens you can buy on January 24, 2022. Should you buy Ethereum (ETH)? On January 24, 2022, Ethereum (ETH) had a value of $2,190.81. In order for us to see what this value point means for the ETH token, we will go over its all-time high value as well as its performan...
Here’s why Solana has lost more than other top ten crypto coins over the same period
Solana has fallen to eighth place in market circulating value after being dethroned by Ripple’s XRP The cryptocurrency market is reeling from the extended decline that started at the end of last week. The majority of crypto tokens and coins have taken a huge beating, shedding as much as 40% of their value since Friday. The king cryptocurrency has almost 3% over the past 24 hours and is labouring to stay above $34,000. Ether (ETH) and Cardano (ADA) have all posted bigger losses – both down over 6.50% on the day. Solana price has seen the biggest slump, and this is why The altcoin market has similarly recorded huge losses following the latest selling wave. Notably, Solana has one of the biggest red candles in daily and weekly time frames – down 11.08% in the last 24 hours and almost 40...
Illiquid supply ‘going up relentlessly’ — 5 things to watch in Bitcoin this week
Bitcoin (BTC) is starting the final week of January in a place no one wanted but many warned about — a 50% drawdown from all-time highs. A flight to $34,000 means that BTC/USD is now down by half in just two months, and perhaps naturally, concerns are that the losses could continue. With $30,000 so far unchallenged, Bitcoin remains slightly above the trough of its dip from $58,000 to $29,000 last summer. With macro markets facing a tough time of their own thanks to rapidly changing United States Federal Reserve policy, crypto holders will be eyeing their coins’ correlation to traditional assets going forward. Can Bitcoin break the trend? So far, there are few signs that a significant rebound is on the cards, but below the headlines, not all is as it seems when it comes to Bitcoin’s strengt...
No regrets for NYC mayor receiving his first Bitcoin paycheck during dip
Bitcoin (BTC) is a New York state of mind thing for Eric Adams, the crypto advocate serving as the 110th mayor of New York City. He received his first Bitcoin payout on Friday during some epic downward price action and was unflappable when asked about losses during an interview. Bitcoin’s price has taken a nosedive from Friday highs of $41,000 to $35,000, meaning Adams has effectively taken a 15% haircut on his first wages. In light of the plummeting price action, a CNN interviewer asked on Sunday, “How much money did you lose, and do you have any regrets?” The recently instated mayor sidestepped the question, instead shining a spotlight on Bitcoin technology while making comparisons to investing in the S&P 500: “It’s the same as when I invested in the stock market; we saw a...
Bitcoin ‘enters value zone’ as BTC price floor metric goes green again
Bitcoin (BTC) has just reentered a key price zone, which has signaled the beginning of the end for bear phases, data confirms. In a tweet on Jan. 24, Charles Edwards, founder of crypto investment firm Capriole, flagged Bitcoin’s network value to transaction (NVT) ratio metric as it delivered a new and rare “oversold” signal. NVT says it’s reversal time Bitcoin price losses accelerated over the weekend, with the market not far off a retest of the seminal $30,000 mark prior to Monday’s Wall Street open. Nonetheless, for on-chain analysts, there are plenty of reasons to believe that the extent of losses seen recently is more of a market overreaction than a taste of things to come. Supporting that thesis is NVT, which calculates how overbought or oversold Bitcoin really is. NVT, first&nb...
Crypto exchange’s Twitter gets hacked by ‘disgruntled employee’
The Twitter account of the Russian crypto exchange Latoken seems to have been breached by a hacker who started posting allegations that the exchange is a scam. According to the posts, the exchange is promoting “scam IEOs” and misleading its customers. WARNING – THIS IS A SCAM EXCHANGE They are promoting scam IEOs. They are promoting IEOs promising growth of 100% to 500%. They are cheating and lying to founders and employees. They are misleading founders to think they will have successful IEOs while it never happens. — LATOKEN (@latokens) January 24, 2022 The profile picture of the account was also changed into a scam warning image, while the Twitter page’s bio was edited to “LATOKEN is the leading SCAM platform!” According to the hacker, the exchange treats employees unfairly a...
ADA sinks below $1.00 after market sell-off knocks off accrued gains
Cardano’s native token ADA is currently trading over 66% below its all-time high set five months ago The recent market slump that started during Friday’s morning session has taken a huge chunk out of the cryptocurrency sector’s circulating value. Bitcoin, Ethereum and Binance Coin down more than 5% on the day Bitcoin (BTC) plunged below $38k on Friday before seeing more dips and dropping below $35k. Down approximately 6.4% in the last 24 hours, it is now trading at $33,653.05 as per data from coinmarkecap. Ethereum (ETH) price, which broke above $3,200 on Thursday’s trading session, is down 27.54% over the last seven days. The second-largest crypto-asset sunk below the $2,400 critical level on Saturday, bottoming around $2,330. On the day, the token has lost 11.21% ...
Here is why Russia wants to ban cryptocurrency mining and trading
Russia has previously outlawed payments via crypto and investment in crypto by mutual fund Last week Thursday, Russia’s central bank released a report proposing a blanket ban on the use and mining of crypto in the country. Russian authorities are worried that the increasingly strong position that crypto is taking could well pose a risk to the stability of the country’s financial and monetary systems. “Potential financial stability risks associated with cryptocurrencies are much higher for emerging markets, including in Russia,” the report said. Crypto is a ‘bubble’ and leads to serious environmental effects The report further suggested that cryptocurrencies carry the characteristics of a financial pyramid scheme. It detailed that with the burgeoning grow...
How to pick or analyze altcoins?
What are altcoins? The word “altcoin” is derived from “alternative” and “coin.” Altcoins refer to all alternatives to Bitcoin. Altcoins are cryptocurrencies that share characteristics with Bitcoin (BTC). For example, Bitcoin and altcoins have a similar basic framework. Altcoins also function like peer-to-peer (P2P) systems and share code, much like Bitcoin. Of course, there are also marked differences between Bitcoin and altcoins. One such difference is the consensus mechanism used by these altcoins to validate transactions or produce blocks. While Bitcoin uses the proof-of-work (PoW) consensus mechanism, altcoins typically use proof-of-stake (PoS). There are different altcoin categories, and they can best be defined by their consensus mechanisms and unique functionalities. Here are the mo...
Crypto YouTubers fall victim to hacking and scamming attempt
Hackers attacked a number of popular crypto YouTuber accounts at some point during the afternoon of Jan. 23. The accounts posted unauthorized videos with text directing viewers to send money to the hacker’s wallet. Accounts who appear to have been targeted by the attack include: ‘BitBoy Crypto’, ‘Altcoin Buzz’, ‘Box Mining’, ‘Floyd Mayweather’, ‘Ivan on Tech’, and ‘The Moon’ among others. BREAKING: Dozens of Crypto YouTubers have had their accounts hijacked by hackers promoting a fake crypto giveaway scam. Hacked accounts include:@IvanOnTech@boxmining@aantonop@themooncarl@Bitboy_Crypto@mmcrypto@Altcoinbuzzio@FloydMayweather@crypto_banter@CoinMarketCap pic.twitter.com/ykXkZUh9cO — Mr. Whale (@CryptoWhale) January 23, 2022 The Binance Smart Chain wallet address that was listed on the f...
Russian tech and political executives denounce crypto ban proposal
Russia’s recent ban on crypto has drawn criticism from a number of big names, including Alexei Navalny’s chief of staff Leonid Volkov, and Telegram founder Pavel Durov. On Jan. 20, Russia’s Central Bank published a report proposing a blanket ban on domestic crypto trading and mining. The report stated that the risks of crypto are “much higher for emerging markets, including Russia.” However, it appears that this proposed ban isn’t universally accepted in the country. A Jan. 22 post by the Telegram founder, Pavel Durov stated that the proposed ban on crypto would “destroy a number of sectors of the high-tech economy.” He added: “Such a ban will inevitably slow down the development of blockchain technologies in general. These technologies improve the efficiency and safety of many human ...
When and why did the word ‘altcoin’ lose its relevance?
All cryptocurrencies other than Bitcoin (BTC) were first described as altcoins for a single reason: There was a rise of projects that copied and pasted Bitcoin’s source code. The cryptocurrencies in the early stages weren’t unique enough to have a distinctive term, so “altcoin” (alternative coins) best fit their description. The community, at that point, didn’t put too much thought into other cryptocurrencies due to Bitcoin’s potential advancement — its future price growth, use cases, mainstream adoption, etc. It was the leading head in crypto. But things changed when people caught onto Ethereum’s smart contract platform, as it can produce “smart contract tokens” — cryptocurrencies with the ability to perform intelligent tasks autonomously. This led the community to distinguish altcoins fr...
