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Elon Musk tweets and Twitter bots drove up price of FTX-listed altcoins, research finds – CNBC

Sam Bankman-Fried, co-founder and chief executive officer of FTX, in Hong Kong, China, on Tuesday, May 11, 2021.

Lam Yik | Bloomberg | Getty Images

Rampant bots on Twitter helped to pump up the price of cryptocurrency, including coins traded by insiders at FTX hedge fund Alameda Research before its collapse, according to a new study from the Network Contagion Research Institute published Wednesday.

NCRI researchers conducted a scaled analysis on Twitter (now known as X) examining over 3 million tweets from Jan. 1, 2019, to Jan. 27, 2023, pertaining to 18 different cryptocurrencies in partnership with New Jersey GovSTEM Scholars. They also shared their findings with X Corp. days ahead of publication.

Mentions of certain altcoins by Tesla and SpaceX CEO Elon Musk, who led an acquisition of Twitter that closed last October, appear to have caused prices to spike by as much as 50% within one day, the researchers found.

The NCRI study pointed to Musk's June 24, 2023, retweet of a post featuring a kitten and the caption, "I wake up there is another PSYOP,"a coin created by a pseudonymous Twitter influencer known asBen.eth. Trading of this altcoin nearly doubled in volume over the next day, according to CoinMarketCap data.

Separately, a Musk tweet on May 13, 2023, featuring Pepe the Frog memes led to a more than 50% increase in the price of altcoin PEPE within 24 hours. Musk's tweet fueled both authentic discussion and bot and promotional tweets about the altcoin, which is based on a popular far-right meme.

The NCRI findings raise significant questions about social media driven market manipulation in the broader crypto markets. The study also highlights the considerable challenge Musk faces in reigning in bot activity that was pervasive on the social media platform for years and still persists there.

Musk has claimed, without providing data, that bot activity has fallen since he acquired Twitter.

According to Alex Goldenberg, Lead Intelligence Analyst for NCRI, "Since Musk's team took over Twitter last year, API changes were made to deter bot creation, possibly reducing crypto promotion and scams. However, these changes come with trade-offs as they also hinder independent audits by third-party researchers."

Goldenberg recommends that if bot activity remains high, X Corp. could "consider stricter account verification, machine learning for bot detection, and special permissions for certified researchers to ensure transparency while combating malicious bot activity and other forms of online harm."

X Corp. has been increasing the price to access data for researchers, while also filing lawsuits and threats against researchers looking into hate speech and other online harms on its platform. In recent weeks, X Corp. sued Bright Data and the Center for Countering Digital Hate, for example, raising the ire of House Democrats. NCRI partners with Bright Data for pro-bono access to social media data, Goldenberg noted.

X Corp. did not immediately respond to a request for comment.

The NCRI study also highlights how inauthentic activity on Twitter helped drive up the price of tokens listed on FTX in the months before the crypto exchange collapsed. "Bot-like accounts were used to manipulate market sentiment and drive up the price of FTX-listed tokens," Goldenberg told CNBC in an interview.

Six small-cap tokens listed by FTX were significantly influenced by inauthentic social media activity on Twitter, NCRI found. The researchers said that "inauthentic chatter" was "successfully and deliberately deployed to influence changes in FTX coin prices," for six tokens: BOBA, GALA, IMX, RNDR, and SPELL.

Alameda held at least five of these tokens before they were listed on FTX, and as bot-like activity on Twitter amplified the visibility of the tokens. For one crypto asset, RNDR, inauthentic posts and activity on Twitter concurred with or preceded double-digit percentage jumps in its price.

On four separate dates from 2022 to 2023, spikes in bot activity on Twitter preceded increases in RNDR's price ranging from 11% to 30% within a single day, the NCRI analysis found.

FTX founder Sam Bankman-Fried and his team were well aware of Twitter's influence on the crypto markets, and how sophisticated investors could extract value from social-media driven price action.

"People on crypto Twitter, or other sort of similar parties, go and put $200 million in the box collectively," Bankman-Fried said in an 2022 interview on Bloomberg's Odd Lots podcast. "In the world we're in, if you do this, everyone's gonna be like, 'Ooh, box token. Maybe it's cool. If you buy in box token,' you know, that's gonna appear on Twitter and it'll have a $20 million market cap."

FTX was one of the largest crypto exchanges in the world before it filed for bankruptcy in 2022.

Bankman-Fried, 31, now faces a federal indictment for allegedly committing securities and wire fraud. He's also the subject of Securities and Exchange Commission charges, which alleges that he built his empire on a "foundation of deception."

Representatives for Bankman-Fried declined to comment. The SEC and FTX did not immediately respond to a request for comment.

Read the full NCRI study here.

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Expect a Huge Crypto Move in August | Only 3 Altcoins Will – Altcoin Buzz

The Cosmos Hub isone of my favorite ecosystems. It forms the foundation for the IBC, or Inter-Blockchain Communication. All other chains in the IBC are built on top of the Cosmos Hub.

All these chains interconnect within the Hub or IBC. This means that they can send assets around, between them. Now, theres a lot coming up for various chains in the IBC during August and beyond. Usually, the accumulation for upcoming events occurs 3 months before the event. Lets discover these altcoins.

Cosmos has a big event coming up in September and Q4. Its one of the three Cosmos ecosystem altcoins I look at today. So, now is the right time to look into Cosmos and its ATOM token. This event is the Gamma release. This is an update to interchain security, Gaia v11.0.x. It establishes a layered security. Thats Interchain Security v2. You can compare this to what the L2s on Ethereum are doing.

In contrast to Ethereum, Cosmos is an innovation-oriented chain. Ethereum is more like a value-oriented chain. For example:

However, Cosmos is starting to change direction. This new strategy points towards a value-oriented chain. In other words, Cosmos can now onboard many user-intensive dApps. For instance, like DYDX. They launched their testnet on Cosmos in early July. This provides indirect growth to Cosmos and its ecosystem.

However, hold your horses, Im not saying that Cosmos can now challenge Ethereum. But, most certainly, they can put up a fight. One of the ideas floating around is that Cosmos may start a burning mechanism. As a result, this can increase the value of the ATOM token.

Nonetheless, this will be interesting. Simply because it can lead to a paradox. And heres why. Think of a few Ethereum L2s, like, for instance, Arbitrum. They use ETH for gas. But if we look at the value investing of the ARB token or similar altcoins, they become useless, right?

Now, new cosmos ecosystem tokens, that onboard, can see the same situation unfold for them. So, theres still a bit to puzzle around with. But, the general idea is good and something that Cosmos needs.

Injective started to rise through the ranks in 2022. Its my second pick of the Cosmos ecosystem altcoins. The protocol never stopped or looked back. 2 Its price development has been phenomenal. Theyre built for finance. Injective never stopped building. They delivered some exceptional products. See our recent video about it.

Injective is an L1 thats part of the IBC. Its super-fast, and it doesnt charge any gas fees. It offers cross-chain trading and yield generation. Injective has a DAO with a big community. The DAO votes on any innovations.Interoperability is an important feature to them. For example, they are interoperable with Ethereum, Solana, and Polygon.

First, as already mentioned, they keep building. So thats positive news. For example, many upgrades are coming in Q4. These are the Injective Orbital Chains. For instance:

Second, their token release for INJ is coming to an end in Q4. A reason why investors are bullish on INJ. You can also add to this their token burn mechanism. Injective burns 60% of all fees collected.

The project has a buyback and burn mechanism. It auctions off the INJ tokens that it buys back. As a result, in 2022 Injective had the highest burn ratio in crypto. Injective is a project to keep an eye out on. Its ATH was $24.89. During the next bull run, it may well go over that.

Secret Network is another one of my favorite IBC projects. I talked about Secret, about a week ago. See my video here. In this video, I do mention what I like about Secret. They kept quietly building in the background. Currently, Secret runs the Surge campaign. A big DeFi incentives campaign.

On the other hand, Secret suffers from massive inflation. As a result, we can observe suppressed price action in its native token, SCRT. This makes SCRT the third of the Cosmos ecosystem altcoins I cover today. But that also means theres an upside. Among all other privacy-based L1s, Secret is the most undervalued.

One new feature I look forward to is the Unstoppable Wallets. Most likely launching in Q3. This is on a different level.What they offer is mind-blowing. So, lets take a look. For example:

Another interesting consideration is the current Arkham controversy. They currently drive to remove anonymity. As a result, anyone who prefers secured privacy can look up Secret Network. Its something that I can see plenty of whales and institutions take advantage of.

So, are you a fan of the Cosmos ecosystem? Do you already use any of the three mentioned projects? Let me know what you think of their new and upcoming features.

For more cryptocurrency news, check out theAltcoin BuzzYouTube channel.

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Best Altcoins Of 2023: Ethereum, Solana & DogeMiyagi As Top Investment Opportunities In 2023 – Analytics Insight

Altcoins are basically any cryptocurrency coin apart from Bitcoin (BTC). In the fast-paced world of cryptocurrencies, altcoins have consistently proven to be enticing investment prospects. As the crypto market evolves, three particular altcoins have captured the attention of investors and enthusiasts alike: Ethereum (ETH), Solana (SOL), and DogeMiyagi (MIYAGI).

During the 2023 landscape, the realm of crypto assets has expanded significantly, encompassing a diverse array of coins and tokens that serve purposes beyond mere mediums of exchange.

Ethereum, the second-largest cryptocurrency by market capitalization, has long been hailed as the pioneer of smart contracts and decentralised applications (dApps). Its unique ability to facilitate complex programmable transactions has driven its widespread adoption and popularity.

In 2023, Ethereums value proposition is further bolstered by the much-anticipated Ethereum 2.0 upgrade. This upgrade aims to transition the network from Proof-of-Work (PoW) to Proof-of-Stake (PoS), significantly improving scalability and energy efficiency. With its vast ecosystem of dApps and decentralised finance (DeFi) projects, Ethereum is poised to maintain its position as a leading altcoin and capitalise on the growing demand for decentralised applications.

Solana, a relatively new player in the crypto space, has quickly emerged as a scalability champion. Built to handle high throughput and low latency, Solana has garnered attention for its lightning-fast transaction speeds and low fees. Its robust ecosystem and developer-friendly environment have attracted numerous projects seeking a high-performance blockchain platform.

In 2023, Solana is expected to witness substantial growth as more DeFi projects, NFT platforms, and gaming applications migrate to its network. Its interoperability with Ethereum through cross-chain bridges opens up exciting possibilities for seamless asset transfers between the two networks. As per the latest reports, the ecosystem witnessed a remarkable growth of 63% in the first quarter of 2023, reaching its peak in daily trading volume for the year.

DogeMiyagi, a captivating new meme token, has garnered significant attention for its unique blend of martial arts and meme culture. Its strong network support, innovative features, and commitment to community-driven initiatives make it an enticing investment opportunity.

In 2023, DogeMiyagi stands out as a promising project with long-term viability. As more investors recognize the value of community-driven initiatives, DogeMiyagis meme culture and charitable contributions resonate with a broader audience. Its presale has garnered substantial interest, and its commitment to transparency and community engagement positions it as a project with significant potential for growth and adoption.

In 2023, the crypto market is poised for significant growth, fueled by key trends. The shift from PoW to PoS in Ethereum 2.0 will enhance scalability and sustainability. DeFi and NFT expansion will drive demand for high-throughput, low-fee altcoins like Solana. Cross-chain interoperability will foster a more connected ecosystem. Community-driven projects like DogeMiyagi are gaining traction, aligning with investor values of transparency and meaningful impact.

The reason why meme coins like MIYAGI in particular are becoming a new reliable altcoins is that they shifted from the complex way all coins are presented. The easy to understand method of presentation and the helpful approach they follow contributes to making a huge difference especially when it comes to new investors. Additionally, presales and its high ROI potential is another reason why such a hype is around it.

In 2023, the crypto market presents exciting investment opportunities in altcoins like Ethereum, Solana, and DogeMiyagi. Each offers unique features, from Ethereums smart contracts to Solanas scalability and DogeMiyagis meme culture with purpose. These projects are expected to see significant growth, contributing to the decentralisation and sustainability of the financial landscape. DogeMiyagis ongoing presale is attracting both seasoned and new investors looking to maximise profits.

Website: https://dogemiyagi.com

Twitter: https://twitter.com/_Dogemiyagi_

Telegram: https://t.me/dogemiyagi

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Expert Says Altcoins Are About to Crash Big Time Before it Gets Good – Coinpedia Fintech News

A serious warning has been sounded for altcoin holders, with predictions of a major crash before the market eventually recovers. With investors around the world flocking to cryptocurrencies, the voice of reason comes from seasoned experts in the field. Whats the cause of this grim forecast, and what should altcoin investors be doing right now? Lets dive in.

Altcoins could plummet a further 40-50% against Bitcoin, according to the analyses of renowned crypto pundits, Ran Neuner, host of Crypto Banter, and Benjamin Cowen, a widely-followed cryptocurrency analyst. This sobering perspective is based on current trends and historical data, making it a subject of considerable concern for those holding alternative digital currencies.

Bitcoins dominance seems to continue its upward trajectory, having held firm prior to reaching a breakout level of 49%. This hasnt merely been a fleeting observation; rather, its a consistent trend, underscoring the power and resilience of Bitcoin in the face of fluctuating market conditions, said Cowen.

The lack of liquidity flowing into altcoins is a strong indicator of their potential fall. While there may be hope for a resurgence, the current reality points to a desolate scene. For altcoin investors, the fear is not that these currencies will disappear entirely, but that the road to recovery appears to be fraught with uncertainty and peril.

For those who are heavily invested in alternative digital currencies, the prediction of a 40-50% drop before any recovery isnt just academic speculation; its a real and urgent dilemma. Investors face the hard decision of whether to swap their altcoin holdings for Bitcoin and ETH or hold onto them in anticipation of a brighter future.

Despite the gloomy outlook, some cryptocurrencies were spotlighted by Neuner as possessing attractive risk-reward plays with reasonable fundamentals. Ethereum, for example, was mentioned as a viable option, providing a glimmer of optimism within an otherwise bleak forecast.

The experts outlook is neither entirely pessimistic nor full of unrealistic optimism. The expert analysis offers a balanced and insightful view into the challenging landscape ahead, leaving altcoin investors with some serious decisions to make.

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Ethereum is Falling Against Bitcoin-Is This the End of the Altcoin Reckoning? – Coinpedia Fintech News

It is a known fact that the altcoins follow the second largest crypto, Ethereum. Moreover, when the token displays acute strength and becomes stronger than Bitcoin, the probability of an altcoin cycle emerges. This has been happening each time during the previous cycles, and hence a similar trend was expected to mirror the present.

Unfortunately, after maintaining a consolidated sideways trend for over a couple of weeks, the rally failed to gather the required volume and momentum. Therefore, now it is believed that the ETH/BTC pair could be all set to reach the lower support, which may fade away the possibility of an altseason for a while.

The ETH/BTC pair had earlier plunged below the pivotal trend line and also registered a failed attempt to reclaim these levels. After the strong rejection, the pair dropped heavily and began to consolidate within a narrow region. Presently, the rally is hovering very close to the lower support, and with the volume decreasing every week, the possibility of plunging below the first support emerges.

Also Read: XRP Price Losing the Grip; Has the Impact of the Ripples Win Faded off?

This could probably postpone the start of an altseason that could have offered altcoins a fine base to trigger a healthy upswing. Now that the altcoin rally may need some more time to thrive, whale activity has surged to a large extent. According to the data from Santiment, huge transactions have been recordedmore than $10 million on various networks.

Popular altcoins like Aave (AAVE), Apecoin (APE), Compound (COMP), ImmuableX (IMX), Lido DAO (LDO), and Measurable Data Token (MDT) have been attracting the whales. These whale movements have, however, created a lot of speculation within the market, one of which could be preparation for the impending altcoin rally. Therefore, now it is important to monitor the whales activity and behaviour to anticipate its upcoming move within the space.

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98.87% Crypto Investors MISS This Altcoin! You Must Not – Altcoin Buzz

Whats the biggest Proof of Work project after Bitcoin? Anyone know? Its Litecoin. If you knew that I am sure you dont know this for sure. Litecoin is the backbone of Dogecoin. Surprised? So was I.

But for some reason, this altcoin just keeps flying under everyones radar. Thats despite no downtime in 11 years and working hard on achieving its goal as cryptos top payments coin. So today, we take a look at almost forgotten Litecoin and 4 big reasons why YOU should NOT forget it for your portfolio.

By far, the biggest recent news on Litecoin is its halving, which took place just yesterday and no it didnt pump altcoin. In fact, LTC dumped over let me see 4.5% in the last 24 hours.

Now that LTC halving has disappointed the holders, Bloomberg states that the upcoming Bitcoin halving might disappoint BTC holders. (kind of shrug it off). But I guess Bloomberg doesnt know how Litecoin Halvings price cycle works. I will explain that to you so that you can still make the most of this opportunity.

I will get to the 3 reasons why LTC is the biggest crypto opportunity for those who are not very aware of Litcoin. Here is some background because many of us dont know a lot about Litecoin. Here are some fast facts:

So while there is a lot more we can say about Litecoin, thats a good start to get an idea of what they are about. Now, onto the halving. Like Bitcoin will do next April, Litecoin has a block reward halving every 4 years. This means that the block reward that goes to the miner who solves the block is cut. In this case, it went down from 12.5 LTC to 6.25 LTC per block.

And like Bitcoin, miners provide the Proof of Work to keep things decentralized and secure. Halving events will keep taking place to keep Litecoin from becoming inflationary until the last halving event in 2139.

Bitcoin has over 90% of its coins mined already. Litecoin is close but slightly behind at ~87% at the time of the halving.

Bitcoin, if you believe any of quant analyst Plan Bs work, operates on two 2-year cycles. The bull cycle starts before the halving and goes until 18 months after. Not so with Litecoin. Litecoin follows a distinct pattern from Bitcoin here. In the last 2 halvings, this is what happened, in order:

For example, in the 2019 halving, the numbers worked out this way:

The same happened with even bigger numbers after the first halving in 2015. Like with Bitcoin, the Litecoin halving is a big deal and the network only gets stronger as a result. And what did Litecoin do immediately following the halving? Down 5.6% on the first day. Do you use Litecoin or any other Proof of Work chains besides Bitcoin? Let us know in the comments below.

I was surprised to know that Litecoin provides network security to Dogecoin via a process called merged mining.

The story behind is something like this. The Dogecoin blockchain, originally created as a joke, was at risk of attack in 2014 because it was on the verge of exhausting block rewards due to a frenzied pace of currency issuance.

So Charlie Lee, creator of the Litecoin blockchain, stepped in and proposed a merged mining arrangement. Allowing Dogecoin to borrow Litecoins network security, ultimately rescuing the embattled cryptocurrency. So with all the Dogecoin Elon Musk bromance going onyou must definitely not miss Litecoin.

One of the key data points for Proof of Work cryptos is the hash rate. It tells us how much computing power is powering and protecting the network. And it might be natural to think after a halving when the reward goes down, that hash rate could decline too.

But thats not whats happened in previous halvings. More importantly, Litecoins hash rate hit an all-time high on July 31st, 2023, of 816 Terrahashes per day. Thats A LOT of computing power. Only BCH and Bitcoin have more power to protect their networks.

So Litecoins network is healthy and growing. All things we look at when considering tokens for investment.

Dont let this recent news that Coinbase was asked to delist every token but Bitcoin before the SEC filed suit fool you. And as good as it is for the industry, dont let the XRP decision fool you either. The asset with the most clarity from the SEC about it NOT being a security is Bitcoin.

The 2 assets with the most clarity after that with clear evidence they are not securities are the 2 big Bitcoin fork coins: Litecoin and Bitcoin Cash. Theres a reason why in the early days of crypto exchanges like Coinbase, Kraken, Gemini, and Paxos ItBit they only offered 5 or 6 coins.

They were wary about whether other tokens, especially ones that did ICOs like Ethereum, or ones that did big private community sales like Solana or Cosmos are securities or not. And from the beginning, even when they could only offer a handful of coins safely, 3 of them were always Bitcoin, Litecoin, and Bitcoin Cash.

In other words, this crackdown, or whatever it is by the SEC, could end up being good for this altcoin. It has faster and cheaper transactions than Bitcoin does, making it an ideal coin to use as the swapping mechanism between the coins Americans can buy, and the ones they really want.

Demand could grow to hold onto LTC too. After all, as I talked about earlier, the hash rate is at an all-time high. And hash rate always precedes price. It means the network is healthy and miners are staying around even for lower block rewards.

Just because this altcoin is the #12 value project by market cap doesnt mean we know everything about it. In fact, out of the top 15 projects, its probably the least reported one in crypto media. It just quietly does its thing while maintaining and growing its $6.3 billion market cap. And it should grow from here.

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Short Squeeze In Sight for DeFi Altcoin That Suffered $41 Million Exploit, According to Crypto Analyst – The Daily Hodl

A widely followed crypto strategist says a short squeeze could materialize for an altcoin project that just suffered a $41 million hack.

Pseudonymous analyst Credible Crypto tells his 343,200 Twitter followers that Curve (CRV) is experiencing a massive amount of short interest.

However, the analyst says that if the native token on the decentralized finance (DeFi) Curve platform does not soon move further down from its current value it may trigger a short squeeze.

A short squeeze happens when traders who borrow an asset at a certain price in hopes of selling it for lower to pocket the difference are forced to buy back the assets they borrowed as momentum moves against them, triggering further rallies.

Also worth noting the massive increase in shorts down at these levels. While another swing down seems like the obvious move to me (and clearly many others) the high short interest here could facilitate a squeeze in the opposite direction if we dont move down soon. The next couple of days will be interesting to say the least.

According to the trader, CRV could decline from its current value at time of writing of $0.59 to $0.49, a 17% decrease. He uses the Elliott Wave theory, which states that the main trend of the price action of an asset occurs in a five-wave pattern to arrive at his bottom price target.

While the dust may be starting to settle on the recent CRV events, we are still waiting on a couple of wild cards that need to be addressed before we can go back to focusing exclusively on the charts. These issues are probably addressed in the next 48-72 hours.

In the meantime and from a purely technical perspective, I dont think our drop is done yet. If we can get back above the RED ZONE and point of breakdown (POB) then it likely is, but until then I expect that this move down is not yet complete and looking for a push into the GREEN zone below for now. This is the same zone I highlighted in my prior chart about a month ago so the levels havent changed. Lets see how things develop over the next couple days.

Curve said on Sunday that because of a vulnerability with the programming language Vyper 0.2.15, several liquidity pools on the platform were exploited. Users in the affected pools were told to withdraw their funds.

Blockchain security infrastructure firm BlockSec estimates the hack resulted in a theft of more than $41 million.

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Top 3 Ethereum Coins in Q3-2023 – Altcoin Buzz

Among the plethora of digital assets, there are some Ethereum tokens that have emerged as prominent players, each offering unique concepts, use cases, and real-world applications.

In this article, we will delve into the fundamentals of LIDO, MakerDAO, and AAVE tokens. Lets take a look at these Ethereum Coins.

LIDO is a decentralized finance (DeFi) protocol that bridges the gap between staked assets and liquidity. Staking is a process wherein cryptocurrency holders lock up their tokens to support the networks security and receive staking rewards. However, staked assets are typically illiquid, preventing users from accessing their funds without unstaking and waiting for a specific time period. LIDO tokenizes staked assets, allowing liquidity providers to deposit their staked tokens in exchange for LIDO tokens, which represent a share in the staked pool.

The LIDO token offers several compelling use cases. Firstly, LIDO tokens can be utilized as collateral in various DeFi applications, unlocking a wide range of financial possibilities. Moreover, LIDO allows participation in staking for smaller investors who may not meet the minimum staking requirements of certain networks.

As of the latest developments, LIDO has been steadily expanding its offerings to support additional staking assets. Ethereum 2.0 staking is already operational, and the project has been working to integrate support for staking assets on other blockchain networks. Broadening its reach and appeal to a more extensive user base.

MakerDAO is a groundbreaking decentralized autonomous organization (DAO) that operates on the Ethereum blockchain. At its core, MakerDAO is designed to enable the creation of the DAI stablecoin, which is pegged to the US Dollar. The system operates through smart contracts and collateralized debt positions (CDPs). Users deposit Ethereum (ETH) as collateral and generate DAI tokens based on that collateral. The entire process is governed by the MKR token holders, who participate in decision-making and risk management within the DAO.

The MakerDAO ecosystem presents several significant use cases. Firstly, DAI stablecoin serves as a reliable store of value and a medium of exchange in the volatile cryptocurrency market. Additionally, MakerDAO offers users the opportunity to access liquidity without the need to sell their underlying crypto assets. This ability to generate DAI against deposited collateral has been particularly valuable in periods of market downturns or when traders seek leverage while avoiding excessive risk exposure.

The most notable recent development in the MakerDAO ecosystem has been the addition of new collateral types beyond just Ethereum. This expansion has been part of a strategic effort to diversify the collateral pool, reduce risk concentration, and enhance the stability and resilience of the DAI stablecoin. Furthermore, MakerDAO has been exploring Layer 2 solutions to address scalability challenges on the Ethereum network, aiming to improve transaction speeds and reduce fees.

AAVE is a decentralized lending protocol that enables users to lend and borrow various cryptocurrencies without the need for traditional intermediaries like banks. The protocol operates through a series of smart contracts on the Ethereum blockchain. AAVE allows users to deposit their digital assets into liquidity pools, earning interest on their deposits, while borrowers can access these funds by posting collateral.

The AAVE token presents several compelling use cases. Firstly, it facilitates passive income generation for liquidity providers who deposit their assets into the protocol, earning interest on their holdings. Additionally, AAVE enables borrowers to access liquidity without the need for credit checks or extensive paperwork, democratizing financial services and opening up opportunities for those who may not have access to traditional banking facilities.

AAVE has been actively involved in the exploration of Layer 2 solutions to address scalability challenges on Ethereum. By implementing Layer 2 scaling, AAVE aims to improve the user experience and reduce transaction fees, making the platform more accessible to a broader audience. Furthermore, AAVE has been expanding its range of supported assets to provide users with more options for lending and borrowing.

LIDO, MakerDAO, and AAVE tokens represent significant advancements in the decentralized finance space, each offering unique concepts and use cases. LIDOs liquid staking solution bridges the gap between liquidity and staked assets, MakerDAOs DAI stablecoin provides a reliable pegged asset. And AAVEs lending protocol empowers users with decentralized borrowing and lending opportunities.

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Benefits of the Latest Revolutionary Lending Feature of Thorchain – Altcoin Buzz

THORChain is a cross-chain liquidity protocol that facilitates seamless asset exchange and lending across various blockchain networks.

This article explores how the latest lending feature of THORChain that will revolutionizing DeFi, showcasing real-world examples and use cases that demonstrate its potential impact on the financial landscape.

Two days ago, the THORChain team shared some docs about a Lending StageNet Test. This new lending technology introduces a paradigm shift in the DeFi world by offering a range of unprecedented features.

We think that this new feature has the current use cases:

THORChains lending technology has the potential to make $RUNE deflationary, creating scarcity and driving up demand for the token. The mechanics of locking up $RUNE as collateral, providing incentives for staking and liquidity provision, and network fee burning. The growing DeFi ecosystem is all factors contributing to the tokens deflationary nature.

As investors and users recognize the value and benefits of THORChains lending platform, the demand for $RUNE is likely to rise, positioning it as a token with significant potential for price appreciation. However, as with any investment, its essential for participants to conduct thorough research and consider the risks associated with cryptocurrency investments before making any financial decisions.

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3 Top EXPLOSIVE Altcoins in Cardano ADA Ecosystem – Altcoin Buzz

The Cardano ecosystem has been exploding with activity. And there are top-quality projects building on it. Today, well shine the spotlight on three top Cardano projects.

These projects have good value propositions, good teams, and an active community. All this generally leads to good price pumps in the bull market. Lets look at our list.

COTI is one of Cardanos projects with impressive use cases. This platform, which stands for Currency of the Internet, is also one of the most undervalued projects. COTI facilitates fast and secure transactions with cheap fees. It allows businesses,governments, and organizations to issue their own tokens.

So, COTI provides a modern solution to the fintech space. It makes payments efficient for buyers and sellers. This platform merges traditional finance concepts such as:

Coti has also launched bank accounts and Visa debit cards. This further creates a link between the finance world and the crypto industry. Also, COTI launched COTIPay, a payment service that supports different payment patterns. In addition to all these, COTI supports P2P payments.

Cardano has invested more than a million dollars in COTI already. This shows its faith in the project. This project is also behind Cardanos best-designed stablecoin, the DJED stablecoin. COTI also allows you to create your own stablecoin with full control over it.

Now lets talk about the COTI token. The COTI token operates on Trustchain,Ethereum,and BNB Chain. It currently trades at $0.04649. It has a circulating supply of 1,219,255,922 COTI coins. There is a maximum supply of 2,000,000,000 COTI coins.

Every good ecosystem needs a good DEX. For example, we have Uniswap on Ethereum, PancakeSwap on the Binance chain, QuickSwap on Polygon, and Trader Joe on Avalanche. DEXes are the cornerstone of any crypto ecosystem.

DeFi activities are currently on the rise in Cardano. Minswap currently leads that department. MinSwap plans to be the #1 liquidity provider in the crypto market. It plans to achieve this by integrating the best asset pool models from different ecosystems into one protocol.

Data from DeFillama shows that Minswap has the highest TVL on Cardano. And thats a testament to its popularity on the network. Minswap is Cardanos biggest DEX and also the most mobile-friendly. Minswap has several advantages over most DEXes. For example, not every DEX has a launchpad. But Minswap has the Launch Bowl launchpad for DeFi projects on Cardano. Minswap allows users to trade and swap assets with low fees.

Minswap also has some pools and farms that offer good rates. Minswaps position as the leading project on Cardano in terms of TVL is a good reason to consider it. Also, it is community-owned. And is working hard to stay that way.

The projects tokenomics is another reason why Cardano users love it. About 70% of their tokens go to Yield Farming and are available to the public. Interestingly, the team got only 10%, while 6% was for their DAO Treasury too. Minswap has a fair token distribution. In fact, one of the most transparent I have seen in a while.

Minswaps Babel fee mechanism is another reason for its growth. It allows users to pay transaction fees in other tokens without needing to hold ADA. Aside from being a DEX, Minswap provides the following services:

MuesliSwap is the first decentralized Mueliswap is the first DEX on Cardano. Although Minswap takes much of the spotlight, Mueliswap remains a force to be reckoned with.It provides Cardano users with a smart contract-powered trading platform. Some of the services it offers include:

Mueliswap also provides a decentralized token launchpad and an NFT marketplace. It is currently the 6th largest project on Cardano in terms of its TVL.

We recently listed Mueliswap as one of the tokens we believe could see up to 20x. Mueliswaps MILK token currently trades at $4.39, which is around 9x from its bear market low of $0.49.

Thats it for our Cardano projects. Let us know which one of them is your favorite.

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