29. März 2023 / admin / 0 Comments
• MakerDAO has ratified its new ‚Constitution‘
• Lack of demand has caused MKR’s value to drop
• Maker Constitution introduces several changes to MakerDAO
MakerDAO Ratifies New ‚Constitution‘
Members of the MakerDAO community have ratified its new ‚Constitution‘. The Maker Constitution was described as: „A strategic tool for building as much resilience as possible into the political and operational interactions and processes that occur in Maker Governance.“ It forms part of the protocol’s „Endgame Plan“ roadmap proposed by Rune Christensen, CEO and co-founder of Maker.
Impact on MKR Value
The lack of demand has forced MKR’s value to drop. At press time, MKR was trading at $681.40 but due to the absence of new demand since mid-March, the token’s value dropped by 30%. According to Santiment, the count of daily new addresses trading the altcoin peaked at 205 new addresses on 11 March after which it fell by 89%.
Changes Proposed by Maker Constitution
The Maker Constitution proposes several changes such as creating a „purpose system“ to allow for token allocations to SubDAOs, implementing a standardized and regulated voting application, and inviting external entities to facilitate governance operations. Additionally, it establishes a delegation system to generate more DAI, introduces voter incentives and modifiable subcomponents to promote decentralization. Moreover, it enables community-driven decision-making while improving the stability of the DAI stablecoin.
New SubDaos & Endgame Activation
The proposal also includes restructuring governance through committees such as Constitutional Voter Committees (CVCs), Constitutional Delegates (CDs), and Constitutional Conservers (CCs). In addition, six new SubDAOs have been launched alongside Endgame activation with project-based funding continuing under Core Units. There is also a process for amending the constitution set in place.
Price Prediction 2023-24
At press time, MKR was oversold according to daily charts. However no prediction can be made about what will happen in 2023 or 2024 regarding its price yet because much can change between now and then.
20. März 2023 / admin / 0 Comments
• Polkadot has been ranking high in terms of development activities.
• GitHub and Santiment data show that Polkadot had the highest developmental activity out of its competitors.
• A strong team of developers and contributors dedicated to the project’s success can also be indicated by a project’s high level of development activity.
Polkadot Leads Development Activity
Polkadot has been ranking high in terms of development activities, according to both GitHub and Santiment data. The combination of chains and dApps in the ecosystem might be a contributor for its rate of development activity remaining high over the last week. This may provide insight into the future of both DOT and the Polkadot when combined with other indicators.
High Development Activity Indicates Success
A high development activity may indicate that the project is actively seeking new ways to innovate and enhance, which may improve its prospects for long-term success. A strong team of developers and contributors dedicated to the project’s success can also be indicated by a project’s high level of development activity.
Price Trend Not Reflective Of Activity
Development activity on Polkadot has been on the rise, but the cryptocurrency’s price hasn’t fared as well. However, as of this writing, it had gained over 3% and was trading roughly at $6.5 according to daily timeframe charts after several weeks being relatively flat.
What Are 1, 10 & 100 DOTs Worth?
As per CoinMarketCap as 19th March 2021, 1 DOT is worth 6 USD 5 cents, 10 DOTs are worth 65 USD 4 cents while 100 DOTs are worth 655 USD 2 cents respectively .
ConclusionThe findings from this article suggest that Polkadot is making great strides in terms of development activities compared to its competitors such as Ethereum [ETH], ChainLink [LINK] or NEM [XEM]. Despite fluctuations in price trends, Polkadot still remains an attractive option due to its robust infrastructure which allows for scalability across different chains & dApps within its ecosystem.
12. März 2023 / admin / 0 Comments
• U.S. Senators Elizabeth Warren and Ron Wyden are calling for more accountability from crypto auditors due to the ongoing turmoil in the sector.
• The fall of Silvergate Bank and Silicon Valley Bank has caught the attention of regulators and lawmakers in the United States.
• Senator Warren called on the Public Company Accounting Oversight Board (PCAOB) to hold crypto auditors accountable for their role in the current turmoil.
Lawmakers Call For Crypto Auditors Accountability
U.S. Senators Elizabeth Warren and Ron Wyden are calling for more accountability from crypto auditors due to the ongoing turmoil in the sector, following the fall of Silvergate Bank and Silicon Valley Bank within a week which has sent shockwaves throughout the crypto industry.
Senator Warren Calls Out PCAOB
Senator Warren took to Twitter earlier on 11 March to call on the Public Company Accounting Oversight Board (PCAOB) to hold crypto auditors accountable for their role in the current turmoil. Senator Warren was joined by Chairman of U.S. Senate Committee on Finance, Senator Ron Wyden, in her campaign against auditors for their „sham crypto audits“.
PCAOB Issues Investor Advisory
The PCAOB issued an investor advisory earlier this week regarding proof of reserve (PoR) reports used by crypto entities. The PCAOB’s Office of the Investor Advocate warned that PoR reports are not equivalent to full audits conducted by accounting firms and that investors should not place undue reliance on such reports.
Senator Warren Commends PCAOB Efforts
While Senator Warren commended PCAOB for their recent efforts to educate investors about risks associated with crypto entities, she argued that Accounting Board should elevate its efforts in interest of consumer protection but criticized them for empire building which leads to unnecessary losses for both retail and institutional depositors when shady firms collapse..
Crypto Community Reacts To Senator’s Tweet
Senator’s tweet was met with fierce retaliation from Crypto community as users from Crypto Twitter were quick to point out that lawmaker was wrong to blame Crypto Auditors as BlockTower Capital founder Ari Paul criticized her for non-crypto bank’s shutting which forced numerous firms into bankruptcy.
3. März 2023 / admin / 0 Comments
• Solana (SOL) has recovered from $8 to reach $26.6 over a month-long period.
• SOL is currently trading at $21.02 and its market cap is 7,962,453,468.
• The token was recently hacked and thousands of users reported losing funds worth around $8 million.
Solana’s Price Recovery
The recovery of Solana (SOL) from $8 to reach $26.6 took nearly a month. In the four weeks that followed, Solana traded within a range from $20 to $27. Currently, SOL is trading at $21.02, just above this level of resistance.
Solana has remarkably recovered from the losses it posted in November and December 2022, especially for a multibillion-dollar market-cap asset. American comedian and television host Steve Harvey joined the bandwagon when he changed his Twitter profile to that of a Solana Monkey Business NFT in September last year. American singer Jeson Derulo also tweeted about his excitement for the token last year saying he betted on Solana and enjoyed the ride.
Solana has raised around $335.8 million over 9 funding rounds with Alameda Research, Andreessen Horowitz and Polychain being its leading investors so far this year .
In early August 2022, thousands of Solana accounts were drained due to an exploit in software used by several wallets popular among Solana users which caused them to lose their funds worth around 8 million dollars .
Sam Bankman-Fried’s Comments
American cryptocurrency billionaire Sam Bankman-Fried said in an interview with Fortune that SOL is the most „underrated token right now… at least as of a month ago.“ He added that though the Solana system exposed itself to many vulnerabilities, it has continued to push boundaries which is what blockchains need to do in order to grow
23. Februar 2023 / admin / 0 Comments
•Solana Spaces has announced that it will shut down its physical stores by the end of February.
•The company is pivoting its Solana onboarding efforts into digital products such as DRiP.
•SOL has tanked over 7% since the news came out and the company is continuing to engage with the community in two ways.
Solana Spaces Closes Stores
Solana Spaces, the Web3 onboarding experience that aimed to bring people to Solana through its retail stores, has announced that it will shut down its stores in New York and Miami by the end of February. The company had opened their first physical location only seven months ago.
Company Pivots to Digital Products
In a recent tweet, founder Vibhu Norby explained that the company has pivoted their Solana onboarding efforts into digital products such as DRiP, which has attracted over 100,000 sign-ups. The startup costs for Solana Spaces were funded by the Solana Foundation, which Norby expressed his gratitude for sponsoring them over the last year.
Engaging with Community
The team hosted nearly 75,000 people in its stores and helped thousands walk away with Phantom wallets and Solana merch. In order to continue engaging with the community, they are open-sourcing both software and brand through Spaces DAO. Additionally, they are also looking for a place for people to pick up Solana merchandise and take part in other IRL activities.
Impact on SOL Token Price
Data from CoinMarketCap shows that SOL has tanked over 7% since news of store closures came out. At press time it was trading at $23.39 with a market capitalization going down 6.12% over 24 hours and daily trading volume of $897 million USDT equivalent tokens traded in 24 hours according to CoinMarketCap data at press time..
Though Solanaspaces is shutting down their physical stores, they are looking forward to continue engaging with their community through various digital products like DRiP and Spaces DAO while providing SOL token holders enough liquidity opportunities via exchanges for continued trade support going forward
16. Februar 2023 / admin / 0 Comments
• Polygon (MATIC) successfully recovered but faced a hurdle at $1.2587.
• MATIC formed an ascending channel pattern, reflecting the extended rally over the past two weeks.
• Exchange outflows showed short-term accumulation of tokens and improved sentiment.
Polygon [MATIC] Price Prediction 2023-24
Polygon [MATIC] has been performing well in recent days as it broke above its ascending channel pattern and is now facing resistance at $1.2587. If Bitcoin [BTC] reclaims the $22,250 level, investors are optimistic that a retest of the $1.30 level could be likely. Exchange outflows have indicated a short-term accumulation of tokens, with increased demand for MATIC pushing prices higher. However, holders‘ profit margins have decreased due to lower BTC prices, so caution should be exercised when entering positions.
Since the end of January 2023, Polygon [MATIC] has formed an ascending channel pattern reflecting its extended rally over the past two weeks. After BTC fell to $21K, MATIC dropped below its channel but was held in check by support at $1.1683. In the short term, bulls may target the $1.30 level if they can break past resistance at $1.2587; however risk-averse traders should wait for confirmation before taking entry positions into their trades. The market structure is bullish with rising On Balance Volume (OBV), indicating there is enough trading volume to drive prices higher and enable bulls to bypass resistance levels easily without much volatility or pullbacks from sellers who might take entry positions on any dips below the 26 period Exponential Moving Average (EMA) at 1.2227 or exit their positions at 100 period EMA at 1.2158 or 1:1880 levels respectively
Investors are optimistic about US CPI data to be released on 15 February which could boost markets further due to better performance from tech-heavy NASDAQ index compared to other indices like S&P500 and Dow Jones Industrial Average (DJIA). Bitcoin was also up 1% in last 24 hours according to CoinMarketCap which has helped altcoin markets including Polygon as well .
The weighted sentiment for Polygon also improved indicating more positive outlook from investors towards asset however it still remains negative thus caution should be exercised when entering into trades . Short term holders (monthly holders) gains have declined from 25% to 5% as per 30 day Market Value To Realized Value ratio .
Polygon [MATIC] has seen a successful recovery but faces resistance at $1.2587 which could potentially be broken if Bitcoin rises above 22k mark once again . Investors are optimistic about US CPI data while weighted sentiment improve although remain negative thus risk averse traders should wait for confirmation before entering any long positions while short term holders have seen decline in profits since BTC fell below 21k mark .
6. Februar 2023 / admin / 0 Comments
Overview of Ethereum’s Shanghai Hardfork
• The Shanghai upgrade is set to launch on the 7 February as a major testing stage before the main network activation.
• The anticipation for the upgrade has led to an increased interest from validators on the Ethereum network.
• Despite potential short-term impacts on price, overall sentiment amongst Ethereum holders remains positive.
Public Testnet Launch
Prior to the Shanghai upgrade activation, Ethereum launched its public testnet, Zhejiang. This was an important milestone in the journey towards activating the Shanghai upgrade and allowed anyone to access test ETH and launch their own validators on the network.
EIP 4844 Upgrade
The EIP 4844 upgrade will be enabled by using data types known as „blobs“ and will improve rollup compatibility for Ethereum as well as help lower overall fees. This is another development taking place in preparation for the upcoming hardfork.
Increased Interest from Validators
The number of validators has grown by 3.07% over the past month and the revenue generated by these Ethereum validators has increased by 76% over the last 30 days due to increased interest in staking ETH ahead of the hardfork.
Price Prediction 2023-2024 Up To Date
Despite potential short-term impacts on price due to users making withdrawals from their staked ETH, data from glassnode showed that percentage of Ethereum holders in profit increased materially and reached a 5-month high at press time. As such, long-term prospects remain positive for ETH holders and at press time, ETH was trading at $1,666.75 with an upward trend expected in 2021.
28. Januar 2023 / admin / 0 Comments
• Polkadot (DOT) has been on a bullish streak, currently trading at $6.50, 90% down from its all-time high of $55 set in November 2021.
• The Polkadot team recently released a blog post detailing the plan for Asynchronous Backing, which aims to reduce the duration of parachain blocks to 6 seconds, increase the amount of block space available, and reuse parachain blocks that don’t make it on the first try.
• The project raised over $144.3 million through an ICO in October 2017 and experienced a bull run throughout 2021, reaching its ATH of $55 in November.
Polkadot (DOT) has been on a bullish streak over the past few months, with the cryptocurrency currently trading at $6.50, which is 90% down from its all-time high of $55 set in November 2021. Polkadot is the 12th largest cryptocurrency by market cap, with a current market cap of $7.48 billion.
In a recent blog post, the Polkadot team detailed their plans for Asynchronous Backing. The update aims to reduce the duration of parachain blocks to 6 seconds, increase the amount of block space available to each block by a factor of 5-10, and allow parachain blocks to be reused when they don’t make it onto the relay chain on the first try. This update is expected to increase the network’s transactions per second (TPS) capacity to a range of 100,000-1,000,000.
Prior to its launch, the Polkadot project raised over $144.3 million through the Web3 Foundation in an ICO in October 2017. After this, the price of DOT hovered around the $6 mark until 2020, when it began to experience a bull run. Throughout 2021, it remained bullish and reached its all-time high of $55 in November. However, the crypto crash in the second quarter of 2022 saw the price dip to just above $6.
Polkadot is now in the midst of a PoS blockchain, which requires validators to stake their DOT tokens in order to generate rewards for maintaining the network. The network is also powered by sharding, which enables it to process multiple transactions in parallel, improving scalability and reducing transaction fees.
In conclusion, Polkadot has been on a bullish streak, with its current price only 90% down from its all-time high of $55. The project has seen success in both its ICO, which raised over $144.3 million, and its updates, such as the Asynchronous Backing update. The network’s PoS blockchain and sharding technology also make it a viable option for those looking to invest in cryptocurrencies.
20. Januar 2023 / admin / 0 Comments
• FTX crypto exchange filed for bankruptcy in November 2022 and its CEO – Sam Bankman-Fried – resigned from his post.
• John J. Ray III, the new CEO, is looking into the possibility of bringing the exchange back to life.
• The news has boosted the price of FTT – the crypto exchange’s token.
FTX, a globally operating crypto exchange, has been in the headlines lately, as it filed for bankruptcy in November 2022 after customers started withdrawing their assets from the platform aggressively. With this, Sam Bankman-Fried – founder of FTX – also resigned from the post of CEO and assigned the role to John J. Ray III, the American lawyer who oversaw the liquidation of Enron.
Recently, the new CEO of FTX, John J. Ray III, gave an interview to the Wall Street Journal stating that he is exploring the possibility of bringing the crypto exchange back to life. He revealed that a task force has been set up to look into the matter and investigate if the revival of the exchange would bring more value to the customers than liquidation of its assets or selling the exchange. Ray added that „If there is a path forward on that, then we will not only explore that, we’ll do it.“
The news of the possible revival of FTX has given a major boost to the price of its native token – FTT. According to CoinMarketCap, the token was trading at $2.24 at press time and had seen an increase of over 25% in the last hour. Furthermore, the coin’s value has increased by over 60% in the past seven days.
Ray also commented on the recent claims made by the former CEO – Sam Bankman-Fried. He remarked that SBF’s statement was unhelpful and dismissed the need for having a conversation with him.
The crypto community is eagerly awaiting the outcome of the exploration and the task force’s findings. If the exploration yields positive results, it would be a major development in the crypto-world and could be a ray of hope for the crypto exchange, which recently faced bankruptcy.
11. Januar 2023 / admin / 0 Comments
• The UK is set to accelerate its departure from EU payments and crypto regulations due to Brexit.
• The Financial Services and Markets Bill (FSMB) is expected to become law in spring of 2023 and is designed to give regulators more control over cryptocurrency.
• The Autumn Statement, Edinburgh Reforms, and other initiatives demonstrate the government’s commitment to supporting high-growth tech sectors, including digital assets.
Brexit has resulted in the UK taking a different path than the EU when it comes to payments and cryptocurrency regulations. The Financial Services and Markets Bill (FSMB) is the key piece of legislation that will give the Financial Conduct Authority (FCA) the power to regulate the crypto asset sector. This bill is scheduled for a second reading in the House of Lords on 10 January, and if it passes, it will be sent to King Charles III for his signature.
The Autumn Statement released in mid-November 2022 confirmed the government’s commitment to supporting high-growth technology sectors, including digital assets. The Edinburgh Reforms in December 2022 further reinforced this commitment by mentioning specific digital asset work streams that the UK was pursuing as part of its financial services reform plans.
The UK is striving to become a global hub for crypto asset technology and investment, as stated by Prime Minister Rishi Sunak in April 2022. In order to achieve this ambitious goal, the government must enact the right policies and laws to ensure that the crypto asset sector is properly regulated. The Financial Services and Markets Bill (FSMB) is the first step toward achieving this goal, and if it is passed, it will give the FCA the authority to regulate stablecoins and other types of digital assets.
The UK is also exploring other options for regulating the crypto asset sector, including the use of tax incentives, anti-money laundering (AML) measures, and consumer protection laws. Additionally, the government is working with industry players to ensure that the sector is secure and compliant with international standards.
While the UK is making progress in its efforts to regulate the crypto asset sector, there is still a lot of work to be done. As the country continues to make progress in this area, it is likely that the UK will become one of the world’s leading crypto asset markets.