Day: October 20, 2023

Solana gaining momentum according to Nansen report

Following FTX’s collapse, Nansen on-chain data shows that SOL has outperformed ETH, emerging as the preferred investment choice.  At the same time, Kaiko, an alternative source of cryptocurrency market data, reports that Solana is still suffering the effects of the exchange’s bankruptcy. Looking forward According to recent findings from Nansen, Solana’s Total Value Locked has nearly doubled since the beginning of the year, reaching a substantial 30.95 million SOL, as the Solana vs. Ethereum ratio has since been reported to be approaching year-long highs. Since the collapse of FTX, SOL has declined…

Crypto Lobby Group Files Amicus Brief in SEC Lawsuit Against Binance, Likens Exchange to E-Commerce Giant Amazon

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A crypto lobbying group is petitioning the courts in favor of Binance in the exchange’s lawsuit with the U.S. Securities and Exchange Commission (SEC). In an amicus briefing filed yesterday, the Chamber of Digital Commerce told the U.S. District Court of Columbia that the US, once a haven for new tech, is pushing away crypto and blockchain technology. “Now, however, one of the newest frontiers of the digital economy—the trillion-dollar blockchain economy—is conspicuously avoiding the United States, finding the regulatory environment too opaque and too hostile to conduct business here… This promising…

CEO Is Super Bullish On Solana, Predicts SOL To 2X If This Pattern Is Confirmed

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Raoul Pal, the founder of Real Vision and one of crypto frequent commentators, thinks SOL, the native currency of Solana, a smart contract platform, has “been extremely bullish all year.” In Pal’s assessment, the coin will likely double in the next few sessions, especially if there is a welcomed breakout above the immediate liquidation level.  Taking to X on October 20, the founder noted that SOL has rallied by 171% in 2023 alone. At the same time, looking at technical candlestick arrangements, the immediate resistance level that traders should watch out for…

Polkadot’s Q3 treasury data shows 61% increase in expenditure

Polkadot’s Q3 2023 Treasury Report reveals a significant uptick in spending across research and development.  Polkadot’s latest Q3 2023 Treasury Report has unveiled a significant, 61 percent increase in its spending, with heavy investments in Research and Development. This increased spending could be the potential reason behind recent layoff rumors that have swept through organizations associated with Polkadot. Polkadot Treasury Report – 2023 Q3 Posted a new report to the forum! – Polkadot Governance spent 21m USD this year already 💵– New: Subcategories! Detailed view over spending buckets 🔎– OpenGov…

Games need decentralized randomness to be fair

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Quantum mechanics tells us that what looks like a highly predictable and orderly universe is built on a world of unpredictability and mere probability. While the quantum world looks bizarre, it can be understood and even harnessed for technology like semiconductors, LEDs, and quantum cryptography. Something similar can be said about randomness in the metaverse. What looks like a system built on random values produced by random number generators (RNGs) is, in fact, based on programs with a method behind them that can be understood — for good or ill.…

Singapore court authorizes freeze order attached to wallets as soulbound NFT

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The Singapore High Court has allowed financial investigation firm Intelligent Sanctuary (iSanctuary) to attach nonfungible tokens (NFTs) containing a legal document to cold wallets associated with a hack, according to United Kingdom-based iSanctuary and local press accounts. A court-issued worldwide freeze order was tokenized as soulbound NFTs and attached to the wallets in question. The NFTs will not prevent transactions with the wallets but will serve as a warning to counterparties and exchanges that the wallets were involved in a hack. In addition, iSanctuary claimed it has devised a means…

Analyst Predicts Plunge, But What’s Next For ADA?

Recent analytical insights from JB, a crypto analyst from the Cheeky Crypto YouTube channel, suggest that Cardano (ADA) one of the leading altcoins in the crypto market might face a plunge before any potential resurgence. Anticipating A Downward Trend According to JB’s analysis, Cardano is possibly on the brink of a price dip. Following the cryptocurrency’s recent pullback, which was exacerbated by the unfounded news about a Bitcoin ETF approval, JB predicts ADA’s price could slide to a range between $0.2296 and $0.2185 before any possible upward reversal. JB further…

Base network launches 8-week training course for blockchain developers

On October 20, the team behind Ethereum layer-2 Base network announced that it’s launching an eight-week training course to turn traditional software developers into blockchain developers. Called “Base Bootcamp,” the new program doesn’t cost anything to attend. However, it’s designed for “mid to senior level Software Engineering individual contributors” and students must fill out an application and be accepted to enroll. Less than 20 students will be accepted into each “cohort” or class, and the team will stop accepting applications on October 27, the announcement stated. Introducing Base Bootcamp, an…

Greece establishes AI advisory committee to create national strategy

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Greek Prime Minister Kryiakos Mitsotakis announced the establishment of an advisory committee to create a national strategy for artificial intelligence (AI) in Greece on Oct. 19. The Greek government said the “exponential pace” of AI development has created the necessity for an advisory committee under the country’s prime minister. The object of the committee is to prepare Greece for the developments and applications of the technology. Mitsotakis commented on the establishment of the commission, saying the reception of the technology must be organized before it becomes a daily reality. “This…

Bitget’s Q3 surge defies market trends, sees over 9% boost in market share

Bitget emerges resilient in Q3 2023, recording a significant 9.43% market share and exceptional performance for its native token BGB, despite challenging market conditions. Crypto derivatives and copy trading platform Bitget has weathered a challenging Q3 market with noteworthy resilience, according to its latest transparency report. While the overall industry saw a decline in spot and derivative trading volumes, Bitget’s market share climbed to an impressive 9.43% in September. Bitget’s latest Transparency Report: Q3 saw growth in market share, $6.7M+ profitable trades via Copy Trading, 69 new assets & BGB…