Concerns have arisen in the digital asset industry about whether it will continue to have access to traditional finance in the US after the sudden failure of three major banks: Silvergate Capital, Silicon Valley Bank, and Signature Bank. Despite this, the market has pushed higher as efforts are made to shore up the banking sector.

The stability of cryptocurrencies such as Bitcoin and Ethereum has been highlighted during the recent banking collapse in the US. As Cathie Wood of Ark Investment noted, while the banking system in the US was seizing up in response to bank runs, crypto networks remained stable and in working condition.

Meanwhile, the pressure on yet another bank Credit Suisse Group AG, has triggered a rally in sovereign bonds as investors seek safe haven assets like gold. The collapse of banks has also reignited the possibility of the US cutting interest rates later this year, which has bolstered investor sentiment. Any sign of interest-rate cuts will likely push funds to riskier assets, which could bring institutional funds back into the crypto market.

Initially, when the banks went down last weekend, the crypto market took a tumble. But this week, the market is going higher, with the total market cap near $1.2 trillion.

Coinbase, the largest crypto exchange in the US, has also seen a 30% jump in its share price since last Friday. The exchange, which trades on the Nasdaq, ended last week at $53.44 and is now trading near $70.

The winner of the banking collapse, however, has been Bitcoin, which is one of the biggest gainers this past week, up 32% and inching closer to hitting $27,000. The largest cryptocurrency has rallied 58% year-to-date (YTD) but is still down about 62% from its all-time high (ATH).

The broader crypto market is also enjoying decent gains in line with the stock market and metal prices after US regulators announced plans to backstop all depositors in the failed Silicon Valley Bank as well as make additional funding available for other banks.

Now, lets look at the top gainers among the top 100 cryptocurrencies as well as overall in the crypto market.

The $666 million market cap cryptocurrency CFX is leading the pack with over 90% gains this past week, according to CoinGecko. The coin has been recording a jump in trading volume as well at over $710 million in the past 24 hours. CFX price is up 1310% YTD.

Conflux, also known as Chinas MATIC, has been performing well, with the platforms on-chain stats showing a peak of 18,000 new accounts, the highest level for 2023. This indicates an increasing interest in the network among investors.

The project has been gaining popularity as the only blockchain in China that complies with legal requirements and uses the Tree-Graph consensus mechanism for scalability and throughput. It is also one of the top projects in the Binance Smart Chain ecosystem, with the most social connections.

This year, Conflux Network partnered with Little Red Book, a China-based social media platform with 200 million users, and China Telecom to develop and pilot a blockchain SIM (BSIM) card service in Hong Kong, which has 350 million users.

Conflux is leading the way for NFT adoption in China, with Taopai being one of the first web3 solution companies and NFT marketplaces on Conflux Network, boasting 1 million users and collaborations with top Chinese firms.

But this is not all. This week, KuCoin Ventures led a $10 million funding round into the stablecoin CNHC issuer. The stablecoin is 1:1 pegged to the value of the offshore yuan and issued on Ethereum and Conflux.

According to Fan Long, co-founder of Conflux, the significance of CNHC lies in its capacity to connect traditional financial systems with the emerging Web3 landscape, especially amid heightened regulatory scrutiny in the US. He believes CNHC presents an alternative for those searching for compliant options beyond the US-centric regulatory framework.

Click here to learn all about investing in Conflux.

A $1.5 bln market cap crypto, STX, is another top gainer, which is up over 88% this past week and more than 400% YTD. Its 24-hour trading volume, meanwhile, has climbed to almost $350 million.

These gains came after the coin suffered from consecutive days of price decline due to the recent banking crisis that impacted the crypto market. Moreover, the coins ride on Ordinals NFTs popularity has long faded, resulting in successive days of price downturn. However, as the market sentiment improved this week, the coin also started rallying.

STX is a layer-one blockchain project that aims to facilitate smart contracts and dApps on the Bitcoin network. Using familiar programming languages like Clarity, developers can build and deploy their dApps on the existing Bitcoin blockchain.

Currently, the Stacks network is working on developing its Nakamoto Release and sBTC, which would unlock three essential features, including enabling a Bitcoin economy, allowing developers to write on Bitcoin, and scaling network speed and capacity.

Click here to learn all about investing in Stacks (STX).

Trading at $0.0187, this coin is up 120% in the past week while recording $290k in 24-hour trading volume, making it one of the biggest gainers in the entire crypto market, as per Messari.

ImgnAI is a crypto-native team focused on building a new leader in consumer AI. Their flagship product, Nai, is an AI-powered text-to-image bot that allows users to generate art via simple text commands. The project offers a seamless UI and several custom image models.

The ImgnAI team will soon use the token to unlock premium features and mint user generations directly as NFTs. ImgnAI also aims to decentralize its governance via the token and will soon release its first revenue stream, Premium, with plans to maintain a variety of revenue streams, including paid advertising, user-trained image models, and custom tooling for partners.

Now that we have covered the gainers, its time to know the losers of the week that are experiencing negative price action while the crypto king Bitcoin continues to rally.

Among the top 100 cryptocurrencies, MKR is one of the very few coins in the red. Down by almost 10% this past week, the $655 million market cap MKR is the biggest loser. The coin is trading at $728.47 but is still up 40% YTD.

These losses come amidst the lending protocol and stablecoin issuer MakerDAO passing a proposal to increase its holdings of US Treasury bonds by 150% from $500 million to $1.25 billion. The proposal aims to increase the protocols exposure to real-world assets and high-quality bonds following the recent market volatility that caused its DAI stablecoin to lose a $1 peg.

Last week, the collapse of SVB created market panic, leading to a $750 million debt ceiling hike approved by 77% of Makers delegates. The approved proposal aims to allow Maker to take advantage of the current yield environment and generate further revenue on Makers PSM Assets in a flexible and liquid manner.

LUNC is a $766.4 million market cap coin trading at about $0.00013, fluctuating between red and green while managing $65.8 mln in 24-hour trading volume. The token was down 100% from its ATH a year ago.

The original blockchain of the distressed Terra (LUNA) ecosystem, Terra Classic (LUNC), has been recording poorer results compared to other assets in the cryptocurrency market. This could be attributed to developments regarding Do Kwon, the fugitive founder of Terraform Labs.

Nearly a year after the companys collapse, regulatory authorities are still pursuing Terras stablecoin, TerraUSD (UST). The US Department of Justice has recently joined the investigation into the stablecoins collapse. The Justice Department is also investigating Chai, the blockchain responsible for enabling UST, which Do Kwon wrongly claimed to be conducting millions of transactions.

The DoJs investigation appears to align with the SECs probe, with both agencies questioning former Terraform Labs employees. Last month, the SEC filed charges against the company and its founder, alleging that they orchestrated a multi-billion dollar crypto fraud by marketing the assets as an opportunity to earn a profit. If Terraform Labs and Do Kwon are found responsible, they could face criminal charges, including a prison sentence.

EUL is the biggest loser in the entire crypto market this week. The $30 million market cap coin has fallen more than 71%, which sent its 24-hours trading volume to $1.5 million. As of writing, EUL is trading at $1.86, down about 12% in the past 24 hours and 85.5% from its ATH hit six months ago. On Thursday, the token hit an all-time low (ATL) of $1.60.

These losses were due to the Euler Protocol suffering the sixth-largest hack in DeFi history on March 14th, leading to the loss of nearly $200 million worth of crypto assets 34.4 million USDC, 8.89 million DAI, 85,690 stETH, and 849 WBTC.

According to blockchain security firm PeckShield, the hacker(s) used flash loans to deposit funds and then leveraged them twice to trigger liquidation logic, donating the funds to the reserve address, and conducting self-liquidation to collect any remaining assets.

Euler Labs, the startup behind Euler Protocol, is currently working with other firms, such as Chainalysis, to recover the stolen funds. Despite offering the hacker an escape hatch to return 90% of the stolen funds, investors seem to have little faith in the recovery process. The hack led to at least 14 protocols and their users being affected.

Overall, the crypto market is in green, with investors and traders expecting more gains ahead. But given that crypto is highly volatile, always remember to be cautious, do your own research, and invest only what you can afford to lose.

Continued here:

The Biggest Crypto Movers & Shakers of the Week - Securities.io

Blockchain explorers are online tools that allow users to view, track, and analyze transactions on a given blockchain network. Blockchain explorers provide an easy way for users to view the contents of a blockchain, including addresses and transactions. They also offer a visual representation of the networks data, summarizing its state at a time.

Anyone interested in a blockchain or cryptocurrency benefits from the crucial data to understand the technology and its potential applications. Users can view the current state of a blockchain, view and search for transactions, track address balances, and see the history of a blockchain with this tool. Blockchain explorers can give access to details on transactions, such as fees, the number of confirmations, and more.

A blockchain explorer is a web application that allows users to search and view data stored on the blockchain. Blockchain explorers are used by developers, miners, investors, and users to view addresses, transactions, blocks, and other data stored on the blockchain.

Blockchain explorers provide an easy-to-use interface for users to search, view and analyze data stored on the blockchain. By visualizing data stored on the blockchain, blockchain explorers make it easy for users to track and analyze transactions and addresses. Additionally, blockchain explorers provide data for developers and investors, allowing them to view data related to smart contracts, DApps, tokens, and more.

The most popular blockchain explorer is Etherscan, which offers users an extensive range of features and data. Other examples include BlockCypher, Blockchair, and Exploretron. These explorers allow users to search for transactions, view blocks, and analyze various data related to a blockchain or cryptocurrency.

Rick Falkvinge, the founder of the Swedish Pirate Party launched the first blockchain explorer, BlockExplorer.com, in 2010. It provided users with a simple interface to search for transactions on the Bitcoin network and quickly gained popularity within the cryptocurrency community.

Over time, more advanced and feature-rich blockchain explorers emerged, allowing users to view data on multiple blockchain networks, track token balances, and view transaction histories in real-time. Todays most popular blockchain explorers include Etherscan for the Ethereum network, Blockchain.com for Bitcoin, and BscScan for the Binance Smart Chain.

Data on a blockchain is stored as blocks, which are cryptographically signed and linked chronologically. Each block contains data about transactions and other data related to the blockchain. This data is stored on all blockchain network nodes, allowing users to view and analyze it using a blockchain explorer.

A blockchain explorer accesses and visualizes the data stored on a blockchain by connecting to the nodes of that blockchain. The blockchain explorer can retrieve data such as transaction history, blocks, addresses, and more through these nodes. The explorer then visualizes this data in an easy-to-use interface, allowing users to search and analyze the data.

Blockchain explorers offer many features that enable users to view and analyze blockchain data. These features include:

Blockchain explorers provide a range of advantages to users, such as:

Users can observe all transactions on the blockchain network via a blockchain explorer, which offers transparency and traceability. Verifying transactions, spotting fraud, and avoiding double-spending can all be helped by this.

Users can investigate and monitor smart contracts, study their details, and track their execution using blockchain explorers. Developers can utilize blockchain explorers to guarantee the security and integrity of their smart contracts.

Blockchain explorers give users the ability to keep tabs on the networks general health and activity, including the quantity of nodes, volume of transactions, and hash rate of the network. This may be helpful for spotting network clogs and stopping network intrusions.

Some blockchain explorers offer real-time notifications. These notifications are configurable for events like transaction progress, creation of new blocks, or smart contract execution. These notifications are useful for monitoring specific addresses or contracts as well as network activities.

Users can study and visualize data from the blockchain network using the sophisticated analytics tools that some blockchain explorers provide. This can be helpful for discovering trends, spotting anomalies, and gaining insights about network usage.

Blockchain explorers are essential tools for developers, miners, investors, and users to view data stored on the blockchain. By visualizing data stored on the blockchain, blockchain explorers make it easy for users to track and analyze transactions and addresses. Blockchain explorers provide data for developers and investors, allowing them to view data related to smart contracts, DApps, tokens, and more. With their range of features and advantages, blockchain explorers are essential tools for anyone who wants to explore the world of blockchain technology.

Read more:

How Can Blockchain Explorers Help Understand the Technology ... - Cryptopolitan

Creating a WebSockets subscription to Ethereum and Binance Smart Chain using ethers.js can be useful for developers for several reasons, including scalability and easier integration.

Using NOWNodes to create WebSockets subscriptions to blockchain networks is a common practice. Javascript libraries such as ether.js have been a popular framework for WebSockets development.

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WebSockets subscription is similar to an Event Listener in Javascript. There are several reasons why an Event Listener is essential. This article illustrates creating simple BSC WebSocket and Ethereum websocket subscriptions to popular Blockchain networks like Ethereum and Binance Smart Chain.

Why create a Javascript WebSockets subscription

Javascript WebSockets subscription is either the Ethereum blockchain or the Binance Smart Chain is important for several reasons. Below are some of the reasons to develop a WebSockets subscription.

WebSockets are communication protocols that enable real-time, two-way communication between a client (such as a web browser) and a server. It provides a persistent connection between the client and server, sending and receiving real-time data.

Constant communication is often established through Websockets API. The WebSockets API provides methods for opening and closing connections, sending and receiving data, and handling errors and events. WebSockets offer a powerful and flexible way to enable real-time communication between client-side and server-side applications. They have become essential for building modern web applications crucial for blockchain and web 3 development.

Platforms like NOWNodes provide more straightforward ways to establish such connections, making it much easier to alleviate the need for a technical developer team. Below is a step-by-step guide on importing the ethers.js library and developing WebSockets subscription to the Ethereum blockchain network and Binance Smart Chain.

How to import ethers.js library and create WebSockets subscription

To use the Ethers.js library, first of all, you need to learn how to install ethers. npm install ethers Then you can import it using the code below.

const { ethers } = require("ethers");

After importing, you create a provider instance directly connecting to the preferred blockchain network. In this case, either the Ethereum blockchain or the Binance Smart Chain. Below is the line of code to create the required connection using NOWnodes.

const provider = new ethers.providers.WebSocketProvider("'wss://bsc.nownodes.io/wss/YOUR_API_KEY');

It is important to note that you'll be required to replace YOUR_API_KEY with your actual NOWNodes API key in development.

Subsequently, create a contract instance using the below line of code.

const contractAddress = "0x..."; // The contract address you want to interact with

const abi = [...] // The ABI of the contract

const contract = new ethers.Contract(contractAddress, abi, provider);

Next, you should create a subscription to an event emitted by the contract. To do so, you'll need to implement the code line below.

contract.on("EventName", (arg1, arg2, event) => {

console.log("Event received:", arg1, arg2);

});

Important Notes:

Below is the code for WebSockets that connect to the Binance Smart Chain blockchain network using the NOWNodes node provider.

const { ethers } = require('ethers')

const url = 'wss://bsc.nownodes.io/wss/YOUR_API_KEY'

const EXPECTED_PONG_BACK = 15000

const KEEP_ALIVE_CHECK_INTERVAL = 7500

const startConnection = async () => {

const provider = new ethers.providers.WebSocketProvider(url, {

name: 'binance',

chainId: 56,

})

let pingTimeout = null

let keepAliveInterval = null

provider._websocket.on('open', () => {

console.log('Connect')

keepAliveInterval = setInterval(() => {

console.log('Checking if the connection is alive, sending a ping')

provider._websocket.ping()

// Use WebSocket#terminate(), which immediately destroys the connection,

// instead of WebSocket#close(), which waits for the close timer.

// Delay should be equal to the interval at which your server

// sends out pings plus a conservative assumption of the latency.

pingTimeout = setTimeout(() => {

provider._websocket.terminate()

}, EXPECTED_PONG_BACK)

}, KEEP_ALIVE_CHECK_INTERVAL)

})

provider._websocket.on('close', () => {

console.error('The websocket connection was closed')

clearInterval(keepAliveInterval)

clearTimeout(pingTimeout)

startConnection()

})

provider._websocket.on('pong', () => {

console.log('Received pong, so connection is alive, clearing the timeout')

clearInterval(pingTimeout)

})

provider.on('block',(block)=>{

console.log('New block!', block)

})

}

startConnection()

Some advanced features of ethers.js for creating Ethereum/BSC WebSockets

Ethers.js provides a variety of advanced features for creating Ethereum WebSocket and BSC websocket subscriptions. Here are a few examples:

You can filter events based on specific parameters using the `ethers.utils` library. For example, to filter for a specific token transfer event, you could use the following code:

const filter = {

address: contractAddress,

topics: [ethers.utils.id('Transfer(address,address,uint256)')],

fromBlock: 'latest'

};

const logs = await provider.getLogs(filter);

If the WebSockets connection is lost, Ethers.js will automatically attempt to reconnect to the Ethereum node. You can also configure the number of reconnection attempts and the delay between attempts using the WebSocketProvider options.

For instance, to configure the WebSockets provider to retry every 5 seconds for up to 10 times, you could use the code below:

const options = {

reconnect: {

maxAttempts: 10,

delay: 5000

}

};

const provider = new ethers.providers.WebSocketProvider('wss://bsc.nownodes.io/wss/YOUR_API_KEY');

This code creates a reconnect object in the provider options that specifies the maximum number of attempts and the delay between attempts.

Using the provider, you can send multiple requests to an Ethereum node in a single batch.send() method. This can help reduce latency and improve performance. For instance, to retrieve the balances of multiple accounts in a single batch, you could use the following block of code:

const requests = [

{ method: 'eth_getBalance', params: ['0x123...', 'latest'] },

{ method: 'eth_getBalance', params: ['0x456...', 'latest'] },

{ method: 'eth_getBalance', params: ['0x789...', 'latest'] }

];

const results = await provider.send('eth_batch', requests);

What you get with NOWNodes service:

NOWNodes offers three paid plans, pro, business, and enterprise. It also provides a FREE plan suitable for small projects.

Start: FREE/ 100,000 requests per month + 1 API key and access to 5 nodes.

Pro: 20 / 1,000,000 requests per month + up to 3 API keys and access to all nodes Business: 200 / 30,000,000 requests per month + up to 25 API keys and access to all nodes.

Enterprise: 500 / 100,000,000 requests per month + up to 100 API keys and access to all nodes.

Conclusion

For several reasons, creating WebSockets with platforms such as NOWNodes can be important for maintaining high-security levels, constant uptime, and interoperability. Using the code snippet above, you can establish BSC WebSocket and Ethereum WebSocket using Ethers.js. The resulting WebSockets subscription would ensure Real-time communication, enhanced security, and scalability to ensure the growth of Web 3 projects.

Media Contact Company Name: NOWNodesEmail: Send EmailCountry: EstoniaWebsite: https://nownodes.io/

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How to Create javascript WebSockets Subscriptions to Ethereum and Binance Smart Chain through ethers.js? - Benzinga

From identifying new investment opportunities to gaining a deeper understanding of the crypto ecosystem, there are many perks that come with sticking with BSC News.

BNB Chain is quickly becoming one of the most popular blockchain networks for decentralized finance (DeFi) applications, and as such, investors need to stay informed about the latest news and trends related to this network.

Here are a few reasons why staying up-to-date with BSC news is so important:

As more and more projects launch on BSC, investors need to know which ones are worth their time and money. By following BSC news sources, you can stay up-to-date on new project launches and token listings, allowing you to make informed investment decisions.

As with any blockchain network, BSC is constantly evolving and changing. By staying informed about updates to the network, you can ensure that you're taking advantage of new features and optimizations that could benefit your investments.

By keeping an eye on BSC news sources, you can also stay informed about potential risks to your investments. For example, if a new project on BSC is found to be a scam or a security risk, you can take steps to protect your funds before it's too late.

BSC is home to a rapidly growing ecosystem of DeFi applications and projects. For example, you might learn about a new yield farming protocol or a promising new decentralized exchange like biticodes that you can invest in early.

Finally, staying up-to-date with BSC news can help you gain a deeper understanding of the BSC ecosystem as a whole. By following news and analysis from reputable sources, you can learn more about how BSC works, what its strengths and weaknesses are, and how it fits into the broader crypto landscape.

One great source is Bsc.news, a website dedicated to providing up-to-date news and analysis on everything related to BSC. The site covers everything from new project launches and token listings to network updates and market trends, making it a one-stop shop for all your BSC news needs.

In addition to Bsc.news, you can also follow BSC-related social media accounts, such as those run by the Binance team, to stay informed about the latest news and developments. By staying up-to-date with BSC news, you'll be better equipped to make informed investment decisions and stay ahead of the curve in the fast-paced world of cryptocurrency.

Therefore, staying informed about the latest BSC news is essential for any crypto investor looking to stay ahead of the curve. By following reliable news sources like Bsc.news, you can stay up-to-date on new projects, network updates, market trends, and more. This can help you make more informed investment decisions, identify potential risks, and discover new opportunities for growth and profit in the exciting world of crypto.

Now that we've established why it's important to stay informed about BSC news, let's talk about how you can do it. Here are a few tips to help you stay on top of the latest developments:

As mentioned earlier, Bsc.news is a great source of BSC news and analysis. Follow BSC-related social media accounts: In addition to Bsc.news, you can also follow BSC-related accounts on social media platforms like Twitter and Telegram. These accounts can be a great source of real-time updates and news, as well as community-driven insights and analysis.

By joining BSC-related communities on platforms like Reddit or Discord, you can stay informed about the latest news and developments while also connecting with like-minded individuals. Due to the global pandemic, many BSC-related events have gone virtual. Attending these events can be a great way to learn about new projects and network updates directly from the source. Keep an eye out for virtual events hosted by the Binance team or other reputable organizations.

By using these strategies, you can stay informed about the latest BSC news and trends, allowing you to make more informed investment decisions and stay ahead of the curve in the fast-paced world of crypto.

It is important for crypto investors to remember to do their own research before making any investment decisions. While staying informed about the latest news and trends can be helpful, it's also important to take the time to thoroughly investigate any project or token you're considering investing in. This includes researching the team behind the project, analyzing the project's whitepaper, and checking for any red flags or warning signs. By combining your own research with the latest BSC news and trends, you can make more informed investment decisions and minimize your risk in the volatile world of cryptocurrency.

Subscribing to Bsc.news can provide numerous benefits for BNB Chain investors. By subscribing to their newsletter, investors can receive regular updates on new project launches, token listings, network updates, and market trends. This information can help investors make informed decisions about their investments, identify potential risks, and discover new opportunities for growth and profit in the fast-paced world of crypto.

Additionally, Bsc.news provides in-depth analysis and expert insights on the BSC ecosystem, giving investors a deeper understanding of how it works, its strengths and weaknesses, and how it fits into the broader crypto landscape.

Overall, subscribing to Bsc.news can be an excellent way for investors to stay up-to-date with the latest BSC news and trends, allowing them to make more informed investment decisions and stay ahead of the curve in the ever-evolving world of cryptocurrency.

In conclusion, staying informed about the latest Binance Smart Chain (BSC) news is essential for any cryptocurrency investor who wants to stay ahead of the curve. From identifying new investment opportunities and potential risks to gaining a deeper understanding of the BSC ecosystem, keeping up with the latest news and trends is vital for making informed decisions.

Fortunately, there are several ways to stay up-to-date with BSC news, such as bookmarking Bsc.news, following BSC-related social media accounts, joining BSC-related communities, and attending virtual events.

It's also about staying engaged with the vibrant and growing community of investors, developers, and enthusiasts who are driving innovation on this exciting blockchain network. So don't hesitate to get involved and stay informed about the latest BSC news and trends.

Continue reading here:

Arbitrum Shatters Records: Hits $1 Billion in Daily Trading Volume ... - BSC NEWS