Cryptocurrency

On May 31, Solana Labs announced that 97.4% of the stakeholders had embraced the v1.14 upgrade of the validator client. The platform published a blog unveiling what v1.14 unlocks and how the upgrade works.In the article, Solana Labs recapped that following a series of upgrades, Solana Labs engineers suggested that all mainnet-beta validators adopt v1.14 for the Solana Labs validator client on May 21. However, yesterday the 97.4% adoption news was published.Solana Labs highlights that the release of the validator client version 1.14 brings a range of noteworthy enhancements aimed at enhancing the Solana network’s user experience. It is important to note that while these features are part of the release, their availability is contingent upon the activation of the feature gate.Nevertheless, it also mentions that the network experience will largely remain unaltered until dApps and projects within the ecosystem leverage these new features.Moreover, version 1.14 include the permissionless deactivation of delinquent stake, addressing the issue of blocks being skipped and overall network performance degradation. It introduces the concept of minimum stake delegation, pending validator governance approval, and the implementation of a new RPC (NYSE:RES) for retrieving the current minimum stake delegation.Raj Gokal, the co-founder of Solana, expressed in a recent interview that he believes that Solana has the potential to become the Apple (NASDAQ:AAPL) of the crypto industry.Gokal parallels Apple’s focus on user experience and performance over the years. He highlighted Apple’s decade-long dedication to perfecting touchscreen latency, which ultimately resulted in the groundbreaking release of the iPhone.The post Solana Labs Unveils v1.14 Upgrade, Bringing Enhancements to Network appeared first on Coin Edition.See original on CoinEdition More

With the current bear market reaching its end, many crypto investors are building their portfolios with the aim of generating the biggest returns in the next bull run. To help investors, Coin Bureau recently shared their top crypto picks in a video uploaded to YouTube yesterday.In the video, they broke down their list into 10 categories, as well as explained some of the challenges and opportunities associated with each category. This video comes after many altcoins printed lower lows on their charts for the past few months.The first category of cryptos covered in the video is Solana killers. The market used to focus on projects that would potentially overtake Ethereum (ETH), however, it has become abundantly clear that the Ethereum blockchain is here to stay, according to Coin Bureau. Solana killers mentioned in the video included Sui (SUI), Aptos (APT), and Near Protocol (NEAR).These 3 projects have the potential to overtake Solana provided the project is unable to survive the aftermath of the FTX collapse. Should Solana overcome the challenges that the recent FTX collapse has brought onto it, as well as maintain its lead against SUI, APT, and NEAR, then Coin Bureau believes that SOL will also be a crypto to watch in the next bull run.Since ETH has established its dominant market presence, investors will look to Layer-1 projects such as the ones mentioned in this article, which could lead to more than 10x gains for long-term investors. On the other hand, Coin Bureau warned that increasing interest rates will reduce the amount of capital that will flow into speculative cryptos, which could diminish returns.In addition, they believe that Solana killers could also be outperformed by Layer-2 projects that are being built on Ethereum (ETH), given ETH’s reputation in the crypto market. Should these projects garner the attention of investors, it could result in further diminished returns for projects trying to overthrow Solana.These are projects that are built on top of the Ethereum blockchain in an attempt to lower the network’s transaction fees as well as increase transaction speeds. In the video, Coin Bureau mentioned that these projects also come with the inherent security of the Ethereum network, which makes them an attractive option for decentralized applications.Projects such as MetisDAO (METIS), Polygon (MATIC), Arbitrum (ARB), and Optimism (OP) were all mentioned as candidates in this category. According to the video, there are more and more Layer-2 projects entering the market. Coin Bureau, therefore, warned that as more projects enter the market, the market cap competition between the projects will grow more intense.Projects included in the next category, decentralized storage, are Filecoin (FIL), Arweave (AR), and Akash Network (AKT). Coin Bureau shared that decentralized storage will be necessary for the future since many Layer-1 projects currently store data on centralized cloud servers. As these projects scale, centralized solutions may no longer be viable.The one caveat for projects in this category, however, is that Layer-1 and Layer-2 projects may just start creating their own decentralized storage solutions. Should this happen, it will remove the need for 3rd party decentralized storage solutions. Secondly, decentralized storage solutions are a new concept and have not been thoroughly tested by the market yet.Projects in the decentralized identification category will play a critical part in unlocking the next wave of crypto and blockchain use cases, according to Coin Bureau. Projects such as Civic (CVC), Kleros (PNK), KILT Protocol (KILT), as well as Polygon (MATIC) who have developed their own identification solution, are the projects to keep an eye on in this category.In the near future, it may become a regulatory requirement for users to have decentralized identities linked to their real-world identities before they can interact with DeFi products. Should this happen, it could result in cryptos in this category receiving a massive price pump.Projects in this category were created to replace institutions in the traditional financial system. Coin Bureau is bullish on this category of cryptos because they are the only projects, besides Ethereum (ETH), and Bitcoin (BTC), that generate fee revenues. A portion of these fees could go to governance participants, which will make them a more attractive investment as well.Crypto projects mentioned for this category include Aave (AAVE), Lido DAO (LDO), and Uniswap (UNI). In terms of caveats, these projects face a large regulatory risk given that they aim to replace traditional centralized financial institutions. Furthermore, these projects are more prone to hacks and cyber attacks.The next category covered in the video is projects that enable high levels of interoperability, which is the ability to share resources across multiple blockchain networks. In addition, these projects also provide blockchain projects with a connection to real-world and real-time data.Projects such as Chainlink (LINK), Flux (FLUX), Cosmos (ATOM), and Axelar (AXL) were discussed in the video. According to Coin Bureau, it is very unlikely that a single Layer-1 or Layer-2 project will be able to support decentralized applications that scale to a global level – making interoperability projects desirable.The potential demand for interoperability projects is further increased by the fact that many crypto use cases will require interoperability. Despite this, Coin Bureau cautioned that interoperability projects will only be used if the global crypto adoption rate grows.According to the video, decentralized social media projects such as LENS Platform (LENS) and Theta Network (THETA) could generate positive gains for investors in the long term. Social media users will slowly begin to use these decentralized social platforms as governments across the globe continuously try to censor the internet.Coin Bureau did state, however, that the adoption of these projects will depend on how easy it is to use these platforms. There is also the risk of decentralized social media platforms falling victim to the same regulatory scrutiny as DeFi products.Although much of the hype surrounding the Play-to-Earn space has subsided, Coin Bureau still mentioned 3 blockchain gaming projects that every investor should keep an eye on going into the next bull run. In the video, Axie Infinity (AXS), Gala (GALA), and Decentraland (MANA) were highlighted as some of the projects to watch.In the video, Coin Bureau stated that blockchain games will be one of the main drivers for mass crypto adoption, as they will open up many great use cases in the future. Unfortunately, there is still some work that needs to be done by each project’s team since there is not yet a blockchain game that can support millions of users.Many users in the crypto space are unaware of the vital role that blockchain wallets play in the crypto space. This is why wallets are the next category mentioned in Coin Bureau’s video. Popular wallet solutions currently in the market include Metamask, Fantom (FTM), Avalanche (AVAX), and ThorFi (THOR).It is predicted that these projects may also launch their own governance tokens in the future. Even Metamask’s team hinted at the possibility of Metamask getting its own token in the medium term. Should this happen, there could be a market cap competition between all of the wallet providers.The last category covered in the video is privacy coins, which aim to conceal the identities of holders and users transacting on the network. For this category, Coin Bureau named ProjectOasis (OASIS), Monero (XMR), and Secret (SCRT) as projects to watch going into the next crypto bull market.These projects currently face the highest levels of regulatory scrutiny since many illicit activities could take place on their networks. Coin Bureau mentioned that regulators may continue to crack down on these privacy-focused projects in the future, which may negatively impact their prices.The post The Top 10 Crypto Categories That Investors Should Know Of appeared first on Coin Edition.See original on CoinEdition More

In a stunning turn of events, the founder of Multichain, a prominent blockchain network, has been taken into custody by Chinese authorities for investigation. This development comes as a surprise to many, especially those who have been praising China’s new crypto policies.Speculation surrounding the arrest suggests that the Chinese police may now have control over the network’s hardware and cold wallet, potentially involving $1.6 billion in funds.Rumors circulated that the entire development team behind the Multichain network had been apprehended, causing further distress. However, the project’s co-founder, Alfred Xu, reassured the community in a Telegram message, stating that the team remains intact and that business operations are continuing as usual. Xu expressed confidence in the network’s ability to restore its troubled route autonomously.The timing of this incident raises eyebrows, as Multichain had recently experienced minor transaction delays, with customers waiting over 24 hours to withdraw funds. The team attributed these delays to upgrades being made to their bridge router. Nonetheless, these setbacks were met with strong criticism from the community, leading to a sharp drop in the price of Multichain’s token, MULTI, within 24 hours.As fears of a potential crisis mounted, attention turned to other projects with significant exposure to Multichain. Reports indicate that Fantom, a popular blockchain platform, holds the highest exposure, with approximately 35% of its Total Value Locked (TVL) relying on Multichain.Moreover, a significant portion of Fantom’s assets is issued through the Multichain bridge, further highlighting the interconnectedness of these networks.While the situation remains fluid and speculative, the arrest of Multichain’s founder has sent shockwaves throughout the crypto space. As the investigation unfolds, the fate of the seized funds and the impact on Multichain and its affiliated projects hangs in the balance, leaving investors and enthusiasts anxiously awaiting further developments.The post Crypto Community Shaken Amid Multichain’s Founder Arrest in China appeared first on Coin Edition.See original on CoinEdition More

In a recent report, market intelligence platform IntoTheBlock underscores the crucial role of liquidation blocks when evaluating risk in decentralized finance (DeFi) protocols. It highlighted that overlooking this metric could expose investors to the risk of insufficient collateral for loan repayment, especially if a liquidation remains open for an extended period.Liquidation blocks refer to the number of blocks required for the liquidation process to complete. The report highlights that protocols with shorter liquidation periods offer increased security and resilience against sudden asset price decreases. This is crucial as longer liquidation periods can potentially lead to a collateral shortfall, endangering loan repayment.In another thread, IntoTheBlock emphasizes the importance of the Health Factor Distribution indicator in assessing risks within DeFi protocols. The indicator provides a comprehensive view of the number of loans facing liquidation within a protocol, enabling investors to gauge potential risks.In a related development regarding liquidations in the broader crypto market, data from CoinGlass, a well-known crypto derivative data analysis platform, shows that a staggering 39,934 traders have been liquidated in the last 24 hours.The cumulative amount lost by these traders is $88.69 million, with the most significant single-order liquidation occurring on the OKX exchange for the ETH-USD-SWAP pair, with a value of $2.06 million.The recently liquidated $88.69 million is a much lower figure compared to another liquidation event reported by Coin Edition earlier this year. Specifically, the report stated that 80,922 traders lost $243 million within a 24-hour window, with $185 million occurring in under 45 minutes.The post Liquidation Blocks Crucial to DeFi Risk Evaluation: Intelligence Firm appeared first on Coin Edition.See original on CoinEdition More

The total crypto market cap dropped 1.89% over the past 24 hours according to CoinMarketCap – taking the collective total to around $1.14 trillion. During this time period, Bitcoin (BTC) had also fallen victim to the market-wide selloff, as its price dropped by 2.35%. As a result, the market leader was changing hands at $27,148.11.Daily chart for BTC/USDT (Source: TradingView)The crypto’s price had dropped below the 9-day and 20-day EMA lines earlier in today’s trading session, and continued to trade below the two technical indicators at press time. This drop came after BTC’s price faced rejection from the key resistance level at $28,750 on Monday.Despite the drop in BTC’s price over the last 3 days, technical indicators still suggested that the market leader’s price would enter into a bullish move in the coming week. A notable bullish technical flag that was on the verge of being triggered was the 9-day EMA line which was looking to cross above the longer 20-day EMA line.Furthermore, BTC’s price recently printed a higher low, confirming that it was still in a long-term bullish trend. On 25 May 2023, BTC had closed the day’s trading session off at $26,473.79. As a result, the crypto was able to remain in a long-term positive price channel, which suggested that BTC would once again rise in the coming few days.This bullish thesis will be validated if BTC’s price closes the next 48 hours above the positive trend line present on its daily chart. Should this happen, BTC will look to flip the aforementioned $28,750 back into support before targeting the key $30K mark in the next few days.On the other hand, BTC closing the next 48 hours below the positive trend line and not recovering within the 24 hours after the drop will result in BTC’s price falling to the next crucial support level. Should this happen, BTC will likely decline towards just above $26.1K in the days that follow.Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.The post Bitcoin (BTC) Traders May Be Gearing Up for a Move to Above $30K appeared first on Coin Edition.See original on CoinEdition More

In his tweet, Stark called out social media crypto influencers who shilled numerous sketchy crypto projects and often helped them manipulate market prices during the bull run. He warned that for any form of price manipulation — be it the price of exchange-listed securities, penny stock securities or crypto securities — the same anti-fraud rules apply, and the days of social media crypto influencers are numbered.Continue Reading on Coin Telegraph More

Employees of Trust Reserve — the issuer of the Chinese yuan-pegged stablecoin CNH Coin (CNHC) — have been detained by Chinese police, the local blockchain publication PANews reported on May 31.Continue Reading on Coin Telegraph More

Glassnode revealed that Bitcoin has emerged as the strongest performing asset as compared to other major commodities.According to data from Glassnode, a prominent market intelligence firm, recent trends in the financial markets show mixed performance across various assets. Over the last 90 days, crude oil (WTI) has experienced a decline of 4.0%. In contrast, gold (XAU) and silver (XAG) have shown positive momentum, with gains of 7.5% and 12.7%, respectively, during the same period.Interestingly, Glassnode stated that Bitcoin (BTC) has continued to outperform other assets, remaining 14.5% above its February closing price. However, it is worth noting that BTC’s performance has been relatively weaker compared to its peak in the first quarter, where it achieved a remarkable 72% growth.Additionally, the data suggests that cryptocurrencies will continue to outperform commodities in 2023. Glassnode data states that all crypto assets, including Bitcoin, are undergoing a significant correction after their recovery from the bear market of 2022. However, according to Glassnode, Bitcoin investors are currently experiencing a state of equilibrium, with neither bullish nor bearish sentiment dominating the market.However, Glassnode data stated that the recent period has been characterized by low volatility and narrow trading ranges, indicating that this equilibrium may soon be disrupted. As a response to this anticipated change, there has been a slight increase in spending by long-term holders of Bitcoin.The cryptocurrency market has been going through a rollercoaster ride recently. Bitcoin, which touched $28,044 in the last 24 hours, has fallen to a low of $27,019. According to CoinMarketCap data, BTC is trading at $27,912, with a 2.2% drop in value over the last 24 hours. The global crypto market cap is down by 1.73% in the last 24 hours and stands at $1.14 trillion at press time.The post Bitcoin Outperforms Major Commodities Over Last 90 Days: Glassnode appeared first on Coin Edition.See original on CoinEdition More