🔵🟢 The U.S. House of Representatives has released a new draft bill to provide a comprehensive regulatory framework for stablecoins like USDC and Tether.
👉🏻 This comes ahead of a hearing on Wednesday by the committee's new panel focused on digital assets and fintech 🇺🇸
#plebchain #coffeechain #nostr #USDC
Why are tokens unlocked? 🔐
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Today we will analyze an important aspect that directly affects the price of your tokens - unlocking.
➡️ Unlocking (unlocking a token) is the "release" of tokens blocked under the terms of the project's investment attraction programs. It works like this: for investments at an early stage, crypto projects give investors their tokens. But at first, these tokens are blocked and have their own unlocking period, called vesting. Thanks to vesting, investors receive their tokens in portions and in stages, which is beneficial to both the team and long-term investors.
↪️ The purpose of the gradual unlocking of tokens: long-term maintenance of the stability of the asset price.
Blocking helps to avoid the case in which holders of large "packages" will sharply sell their existing tokens. A sharp exit of all tokens to the market can lead to a rapid collapse of the exchange rate.
➡️ Many newcomers may think: "So, big unlocks are a good opportunity to make money on the price drop (short)." But not everything is so simple!
Unlocking has not been an indicator for a long time that the token will be dumped (pulled down). Often the opposite happens:
If investors do not sell tokens in large quantities, then the Market Maker is able to keep the price by buying off the asset. And it often happens like this: before the unlocking occurs, the Market Maker pumps the price of the asset. And already during the unlocking, when investors close their positions (sell tokens to lock in profits), the price returns to the range of initial values. Thus, the project keeps the price at the same level as it was before the unlock.
➡️ As you might have guessed, unlocking tokens can lead to a strong increase in volatility. This should be taken into account, especially if you are an intraday trader or plan to conduct any operations with an asset. If you do not have any clear strategy of action, then in the days of separation it is better to "bypass it", wait out the impending storm.
Token unlocks can be tracked on this site.
#plebchain #coffeechain #nostr
🥇 “I think the world probably only needs one cryptocurrency - and that’s Bitcoin.” - Reddit co-founder and CEO Steve Huffman.
#zap #plebchain #nostr #Crypto #bitcoin
🛑From August 2021 to February 2023, about 7,000 Metamask users experienced a leak of personal data.
#zap #plebchain #nostr #metamask #crypto
❗️Bitrue exchange is hacked - around $23M in assets stolen.
Bitrue exchange has been exploited for roughly $23M worth of assets. The exchange explained that attackers exploited a hot wallet and were able to withdraw assets in $ETH, $SHIB, $QNT, $GALA, $HOT and $MATIC tokens. The stolen tokens represented 5% of Bitrue’s overall funds. Bitrue temporarily suspended all withdrawals and plans to reopen them on April 18th. Bitrue told that all identified users who are affected by this incident will be compensated in full.
#Crypto #Cryptonews
How does #staking work? 🤑
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This is not the easiest topic in the crypto market, but we advise to understand it (at least for general understanding)!
➡️ For many cryptans, staking is a way to earn rewards by holding certain cryptocurrencies. But even if you just want to earn rewards for staking without diving into the technicalities, you need to understand at least a little bit about how it works.
↪️ How does staking work?
If a token, from your portfolio, has a stacking feature in its functionality, it means that you can stack/lock it in a contract and get reward/return for it during the "lock-in" time.
The reason your staked token earns a reward is because the blockchain makes it "work," meaning your crypto, becomes part of a larger process. Something similar to your fiat money on deposit in a bank.
➡️ Ways of staking
1️⃣ Staking with Voting in DAO
For example, on Uniswap. Let's start with the simplest one - UNI. Staking on Uniswap, which allows you to get voting rights in DAO. In other words, by staking UNI you can vote for/against different proposals in the DAO.
2️⃣ Revenue Sharing
Next, let's look at a bit more complicated types of staking. Revenue Sharing is a mechanism in which a portion of revenue from an activity or product (such as commissions received from users) is distributed among network participants based on their contribution to that activity. The best example is GMX. This protocol provides an opportunity to stake a native GMX token, and get rewarded for it.
3️⃣ #Launchpool
Let's take Binance Launchpool as an example, it is a staking program developed by Binance exchange. The program Launchpool gives the participants an opportunity of staking in several projects at the same time. Under this program, users can stake their tokens and receive rewards in new project tokens, which can then be sold on the Binance exchange or left as an investment.
❗️Conclusion
• The average staking yield depends on many factors, such as the chosen protocol, duration of staking, number of staked tokens, and can range from 0.1 to 100 or even more %. You can always see the returns for different blockchains on Staking Rewards.
• If you have been holding tokens on hold for a long time, then staking can be a profitable option for you, as it allows you to get additional yield from your tokens.
• The risks of staking can include loss of investment in the event of protocol failure or other technical issues. It is also worth considering that the cryptocurrency market can be very volatile, which can lead to significant changes in token prices.
#Crypto #Cryptonews #Staking #Nostr
Matba Rofex received approval to launch regulated BTC index futures contracts in Argentina.
Argentina’s securities regulator – the National Commission of Value (CNV) – reportedly authorized the local exchange Matba Rofex to launch regulated Bitcoin index futures contracts.
Argentines have recently shown rising interest in the primary cryptocurrency and other digital assets. One factor behind the surging appetite could be the concerning inflation rate in the country and the political instability.
Additional BTC Options for the Locals
The BTC index futures contracts will enable locals to gain exposure to the price of the primary cryptocurrency without having to hold the asset. Deposits will be made in Argentine pesos – the nation’s official currency – via bank transfers.
The CNV’s approval is part of a broad strategy to embrace new technologies and promote a variety of monetary products to the population.
The domestic exchange Matba Rofex must have a valid agreement with a Payment Services Provider (PSP) registered with Argentina’s central bank to launch such contracts. Its President – Andres Ponte – praised the entity for becoming the first in Latin America to offer regulated BTC futures.
⚡️Why can we consider that we are at an early stage of bitcoin adoption?
Because at 200 million online users, that's only 2.5% of the world's population. Peak technology development is considered to be at an adoption rate of 34% or more💰
🔵 Ethereum (ETH) has successfully completed the Shapella network upgrade at epoch 194048.
The Shapella network upgrade is now live, this upgrade follows The Merge and enables validators to withdraw their stake from the Beacon Chain back to the execution layer. The upgrade also introduces new functionality to both the execution and consensus layer. Moreover, From now until April 5th, the Ethereum Bug Bounty rewards have been doubled for Shapella vulnerabilities.
❌Binance US Delisting Tron (TRX)
❗️Binance US announced the delisting of TRX (TRON). The token will be delisted from Binance US on April 18, 2023.
🛑According to the statement, TRX staking will close on April 13, and deposits, buying, selling and converting on April 17. Binance also clarified that the exchange will support TRC-20 USDT and USDC issued on the TRON network.
⚖️Recall that in March, the US SEC sued Justin Sun, accusing him of market manipulation and fraud.
📉The asset quite predictably reacted to the negative news with a fall and sank 8% dropping to $0.06211 – 73% below its all-time high of $0.231.
🔱 Perhaps one of the reasons for the delisting was the reluctance of Binance to complicate the already difficult relationship with the American regulator. And as an option, Changpeng Zhao simply decided to get rid of a competitor.
BTC almost touched $30,500 and altcoins are still sluggish. According to BTC 30k, this is the zone of “optimists”, as soon as it gains a foothold there for some time (1-4 weeks) and the opinion of the majority will clearly be in favor of the “bull market” and at this moment it is only necessary to give the alts the green road for a short time as a bear speaking would be almost a social and criminal offense against the people))
The alts are slowly getting frustrated by reducing them in the portfolio, but they are embarrassed by the fact that the majority of them simply hold on through tears and pain, but do not want to sell. I hope that these are only the most patient, who are in the minority on the market otherwise Khan)
Altos, when / if they compensate for the gap, I think they will compensate with great speed, but this ... I hope you know further)
🚀A key with 62 Bitcoins will be sent to the Moon!
🌒Crypto company Lunar Crush is going to send a wallet key with 62 Bitcoins (at the current rate of about $1.77 million) to the Moon this fall.
👨🏻🚀Bitcoins will be the reward for the first person to reach them on the moon. The code will be engraved on board the probe, which will be sent to the moon on a SpaceX Falcon 9 rocket as part of the Artemis 1 mission.
✨ Lunar Crush assured that the operation will be fully documented and transparent, and no one will have access to the key, not even employees of the company itself.
💬"When you set yourself a seemingly unattainable goal, innovation can be incredible. Our goal is to inspire people to create projects that will launch a new era of discovery" - Lunar Crush CEO Joe Vazzini.
👍All you need to do is build a spaceship and the beats are yours!
🚀 Over 991,000 BTC addresses already own more than 1 BTC
🇪🇺 European Central Bank yesterday, Frankfurt, Germany 😏
Analysts at 21Shares report that such a significant amount of 205,515 bitcoins came into the possession of the office of the president and federal agencies of the United States after several large cases of seizure of the asset.
The US government is one of the largest holders of bitcoins, according to 21Shares analysts
According to the report of the 21Shares company, the US federal government owns 205,515 BTC worth $5.66 billion.
😨 The Owner of this CryptoPunk accidentally sent it to the burn address it after purchasing for $123,434 while trying to wrap it for borrowing purposes.
😮 The hacker gave back most of the assets to Euler Finance.
Based on information from audit firm BlockSec, the perpetrator initially returned 51,000 ETH, leaving only a small portion of assets in the account.
🔍 Subsequently, he sent an extra 7,737 ETH to Euler Finance's account via an intermediary.
The Euler token responded with a significant price surge of nearly 50%: in under an hour, it climbed from $2.73 to $4.51.
🚀 How to make money on Launchpad? (instructions)
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Every cryptan has obviously heard of it, but not everyone has interacted with it. In this post, we'll give you the basis for understanding how it works.
➡️ Launchpad is a platform for conducting an IEO (Initial Exchange Offer of Tokens).
In simple terms: you will be able to buy a coin at the minimum price before listing it.
It all starts with the exchange/platform analyzing the project and determining if it's a good fit. If all is well, then Launchpad is announced, which describes in detail the features of the project and its tokenomics.
For example, take already passed Launchpad Binance with Space ID (ID). SPACE ID is one of the largest service providers for Web3 domain names.
↪️ Lauchpad passes in several stages:
1️⃣ Calculated BNB retention period:
• Don't forget to register as well as KYC as you will not be allowed.
• You need a $BNB minimum of $0.1 $BNB, which you will keep on your spot balance or in your staking. The more you have, the more token allocation you will get.
• From the beginning of the first phase, there are snapshots every day that record the number of $BNB in the account until the end of this phase. You should not withdraw or exchange your $BNB during this time if participating in the event.
2️⃣ Subscription start:
• Based on the "snapshots", you will see your maximum $BNB limit that you can lock in. Click "Lock BNB" and choose "Amount" -> "All", as the higher the amount, the higher the allocation. Funds are blocked until the end of the event.
3️⃣ Settlement period:
• Directly related to the second item and tells you until what date and time you need to block your $BNB.
4️⃣ Final allocation of tokens:
• This tells you the date and time when you will receive your allocation and $BNB will become available in the spot wallet.
You can check how many tokens you received on the spot wallet. Enter the ticker of the token, at the moment it is called - ID.
5️⃣ Moment of sale:
• Go to "Deal" on the mobile app or Trade -> Spot on the web version, where you enter the ID/USDT.
• Choose "Sell" and "Market Order/Market". Since it may not reach your "Limit Order". We have already selected ID/USDT and we choose 100%. We are waiting for sales to start.
• Time is the most important thing here. You need to be able to sell the token in the first few seconds. You can have your own tactics and strategy, but this one is the easiest.
➡️ In summary, I want to say that the Launchpad system is similar everywhere in its principle, so this knowledge will help you participate in any Launchpad-e regardless of the platform. Always analyze projects personally before entering them.
AirDrop: what, how and why? 🎁
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Some of the "cryptans" haven't yet moved away from the fomo on Blur's drop, and then Arbitrum showed how you could make "Life Change Money" in quite simple actions. But not all of our readers fully understand what airdrop is and how you can make money with it. Let's understand it in more detail!
Drop or AirDrop - is giving out tokens for users who made some actions for the development of the project in the past.
➡️ The main purpose of an ardrop: to create a buzz around the project and attract new users (marketing ploy).
To conduct the drop, projects allocate a certain percentage of the total number of issued tokens in advance. What percentage will be allocated is prescribed in the tokenomics, in the "Community" section.
➡️️ Airdrops can be divided into three types:
• "Fast" Airdrop. The project distributes tokens for minimal actions in a short period of time. For example, for filling out a form, voting for a token on the exchange, etc. It is quite easy to qualify for such giveaways. Because of that, there comes a huge number of people who want to get free tokens. And the amounts of such drops leave much to be desired.
• Drop for Holders (token holders). Rewards for people who held (or continue to hold) a particular crypto-asset. Projects take a "snapshot" of the balance at a predetermined time to determine which wallets get the drop.
• Retrodrop. The project rewards users who have taken a certain action in the past. For example:
- swaps (exchanging one coin for another);
- adding liquidity to the pool;
- performing various quests;
- buying/selling NFT, etc.
But unlike a "quick" drop, you will need some money to cover commissions for such activities.
➡️ The conditions for retrograde are often announced post-factum and you can only hope for the correctness of your actions. But because of all the complexities and surprises, retrodrops are the most profitable of all.