Bitcoin Admin, Author at Coin Network

Solana’s Solend V2 Release, Is Sol Price $50 Next?

by Bitcoin Admin | Apr 4, 2023 | Blockchain101, DeFi, Market News, Solana

Solend V2’s launch is a big deal for the Solana ecosystem since it gives consumers a new way to get their hands on cash and collect interest on their cryptoassets. It also shows that the Solana ecosystem is flourishing and that more and more people are using the Solana blockchain. Lending and borrowing digital content on the Solana network is now possible thanks to Solend V2, a decentralised lending protocol. The Solana blockchain was built with speed, security, and low costs in mind. Unfortunately, as an AI word embedding, I am unable to offer investment guidance or make price predictions for individual cryptocurrencies like SOL. But, I am able to shed light on the significance of the recently released of Solend V2 for the Solana ecosystem.
While the introduction of Solend V2 could boost SOL’s value temporarily, it’s crucial to keep in mind that the cost of cryptocurrencies like SOL is highly sensitive to market forces and swings. As a result, it’s completely random whether or not SOL will hit $50 or any other price point in the future. Before putting any money into cryptocurrency, investors should do their own due diligence.

Solend, a decentralised finance (DeFi) platform based in Solana, aims to enhance risk management and decentralisation with the introduction of the Solend V2 borrowing and lending protocol. Secured collateral, TWAP oracle, loan weights, outflows rate limitations, margin requirement limits, segregated tier assets, and a dynamic liquidation bonus are just some of the new features in Solend V2. These enhancements will make up for deficiencies in Solend V1, primarily by addressing issues with collateral and liquidity. The Solana V2 litepaper was announced by Solend on their official blog. The goal of the platform is to create an enhanced version of the Solend loan protocol V2 by incorporating lessons learned from past events. During the next few months, it will roll out in stages, with the first one currently in audit.

Procedure developed by Solana The FTX-Alameda Research crisis, a $1.26 million Solend oracle exploit in November, and other incidents have all caused difficulties for Solend. Also, there includes a trilinear interest rate model, risk authority, on-chain information, deprecated asset management, on-chain and uncensorable stability mining, account delegations, and loss socialisation. Solend says these additions are the result of testing at maximum performance levels for Solana DeFi. With this new platform, we hope to make a full recovery from the past year. The Solend V2 protocol will continue to expand with the completion of new designs.

The Cost of Solana Will Rise Over $100.

Solend, a loan platform headquartered out of Solana, released their SLND utility coin in November of 2021. Thus, both the SOL and TVL values on the Solana blockchain rose. SOL has lost 2% of its value in the last 24 hours, trading at $20.83. The low for the last 24 hours is at $20.62, while the high is at $21.31. Additionally, interest has waned, as trade volume has dropped by 12% in the past day. DappRadar data shows that Solend is now ranked as the 19th best Solana blockchain dapp. There was a 20% gain in UAW value over the past day

Fastness, low cost, and non-fungible tokens

The Solana blockchain has been gaining popularity as the use of DeFi and NFTs has increased over the past few months. Some in the industry, including the developers of Cardano, have labelled Solana a “Ethereum killer,” and the cryptocurrency’s recent gains suggest it may be living up to this anticipation. Solana relies on the Proof-of-History network timestamp technology to back up this claim. This creates a local timestamp to establish a reliable time reference within the network.

Solana also has no intention of resting on its laurels; it claims it will quadruple its processing capability every two years. The average cost per transaction is only $0.00025, which is significantly less than the prices offered by many of its rivals, as stated on Solana’s website. There has been a gradual decrease this year in the cost of transacting on Ethereum, with the average fee now sitting at 116.33 Gwei, a drop of 58% from the same time last year. As an alternative to Ethereum, Solana was launched in 2017, and its rapid blockchain transactions are a major draw. Most of the DeFi ecosystem is built on Ethereum, although Solana claims to be able to execute 70,000 transactions per second. At $0.0005, this is still twice as expensive as Solana. It’s no surprise that Solana is emerging as the greatest possible challenge to Ethereum’s dominance, given the importance of gas expenses in DeFi and the ongoing need of consumers for speedier transaction times.

Are Meme Coins Back As Floki Inu & TamaDoge Pump

by Bitcoin Admin | Apr 1, 2023 | Alt Coin, Altcoin News, Altcoin101, Market News, Meme Coin

Cryptocurrencies made as a joke or for fun, known as “meme coins,” have been for a while and have enjoyed brief spurts of success. Recently, there has been a boom in the prominence of meme currencies such as Floki Inu and TamaDoge, which have witnessed huge price gains in a short amount of time. Floki Inu and TamaDoge’s recent price gains may signal a resurgence in demand for meme coins, but investors should still proceed with caution. Before putting money into any cryptocurrency, especially meme coins, an investor should do their own due diligence and Weigh the dangers.

Note that the value of meme coins is often based on speculation and exuberance rather than economic fundamentals or usage, making them a high-risk investment. Moreover, meme coins frequently have little to no use applications or contributes substantial, which might make them particularly prone to price fluctuations and exploitation. Meme coins with canine themes are currently experiencing tremendous pumping, with Floki Inu’s 45% increase over the past two days setting the pace.

Floki Inu

Floki Inu’s long-term goal is to be the most widely recognised and widely adopted cryptocurrency in the world. According to the marketing staff of Floki Inu, this is why the company has partnered with one of Italy’s best professional soccer teams: the team’s fans will help spread the word about the new meme coin. It would appear that Floki Inu is actively pursuing agreements with major sports leagues in an effort to gain widespread popularity. Besides Cádiz of the Spanish La Liga and the Kerala Blasters of India, the crypto has signed sponsorship partnerships with additional professional football teams. Furthermore, SSC Napoli and the meme token share similar ideals and development targets.

FLOKI’s price growth since its beginning

With the success of Dogecoin and Shiba Inu, a new dog-themed token called Floki Inu entered the cryptocurrency market in June of this year with the goal of becoming the most well-known meme coin in the world. FLOKI was listed at a price of US$0.00000002 in August of 2021. On November 4 it hit a record high of US$0.000405, after having risen to US$0.00006 in late October. Floki Inu, which was originally registered for millionths of a cent, had a huge price spike within a few months of its inception.

Dog-themed coins haven’t always had an easy ride. Floki Inu’s posters on London’s subway and double-decker buses caught the eye of the Advertising Standards Authority (ASA), the UK’s marketing watchdog, some time ago. A review is being conducted to determine whether or if the crypto has broken any of the firm’s policies.

Both “Super Doge” and “Rocket Doge,” two subsequent releases, were instant hits with gamers. But at the same time, Tamadoge hired a new Head of Gaming, which boosted the platform’s popularity among gamers. But that’s not the end of it either. Further games, such as “To the Moon” and “Tama Blast” and “Tamadoge Run,” are also in the works or scheduled for release in the near future. What we’ve learned about the Tamadoge platform thus far sheds light on why the native TAMA coin has been increasing in value recently, and why crypto experts predict this trend will continue into the foreseeable future. But, behind the popularity of this meme coin is hard labour, not just a succession of tweets, as is the case with several other meme coins. Play some Tamadoge games and wait for the value of TAMA to rise while you buy them on OKX, Uniswap, Gate.io, LBank, MEXC, or BitMart.

Be sure to get your hands on this meme coin, but also keep an eye out for a couple of other promising cryptocurrencies that aren’t necessarily based on internet memes but are seeing impressive presale results and have promising long-term prospects.

The time to buy Tamadoge is NOW

Some additional non-meme crypto initiatives serve as evidence that meme coins like Tamadoge’s TAMA are not alone in their popularity peak. Crypto specialists believe that FGHT’s value could climb by as much as 30x in the next few months. In addition to this green crypto that can help you go where you need to go, CCHG from C+Charge also shows promise. People are interested in Fight Out (FGHT) since it is the greatest move-to-earn cryptocurrency. Fight Out’s FGHT is one of those non-meme coins with amazing presale performance. To encourage its users to maintain an active and healthy lifestyle, this coin offers substantial incentives. On the first day it debuted, Tamadoge’s TAMA coin registered outstanding results, and ended its presale with remarkable success, raising an astounding $19 million.

The concept behind Fight Out is to give you something to show for all of your hard work when it comes to training and when you beat a fitness challenge. TAMA, however, did not rest there, and the meme coin’s fame only grew from there. Recent days, however, have seen a spike in interest in this meme coin. The release of the wonderful Tamadoge arcade games is to blame for this state of affairs.Regular exercise not only improves your physical features and health, but also brings with it a host of other benefits. The platform’s native token is now on presale, but you should get it sooner rather than later because its price will rise. Invest in FGHT now and enjoy the benefits of a more energising and productive lifestyle tomorrow.

Shiba Inu’s Secret Weapon

by Bitcoin Admin | Mar 30, 2023 | Alt Coin, Altcoin News, Altcoin101, Dogecoin101, Market News, Meme Coin, Shiba Inu

Shiba Inus Secret Weapon?

Crypto investors are always looking for the “SHIB (shiba inu) killer” which has been called the “Dogecoin killer”. The headlines, marketing and media in the crypto suggest that meme coins are at war. Even Shiba Inu’s founder has stated that they consider themselves to be the “Dogecoin Killer.” The blockchain suggests they are not as divisive as the media would suggest given that many dogecoin whales are also shiba whales.

What are meme coins?

Meme coins represent a new world; a new way of thinking and being for their biggest fans and supporters. Dogecoin was created as a parody to Bitcoin and the community support was so large and generally flippant toward the general attitude toward money that even Elon Musk, a contrarian himself, has publicly spoken about his love for the Dogecoin community.

Meme coins give a community a collective message, attitude, personality or parody to believe and buy into. They give a handful of like minded people an outlet to exchange value in a way that is unconventional, fun, and meaningful – even if only to that small group of people.

Unbelievably, this kind of personality-driven digital value exchange could change everything. We’ve already seen governments take action to either capitalize on it or try and destroy it altogether.

Where does this go from here?

Meme coins have shown millions a new way in exchanging value, creating value, bonding over shared belief in concepts like decentralization, autonomy, and irreverence toward the system. It is likely that we are sitting on the threshold of an entirely new value exchange system that has been spearheaded by fluffy dogs with a little help with one of the worlds most influential thinkers, Elon Musk.

In order for the people to win, meme coins must win because DeFi must win.

The secret weapon: community

Community is the most powerful utility in any movement. There are many DeFi projects with real world utility that will change the way industries operate forever, but at this point in time the most important utility is uniting people with a common goal and unshakeable belief in a better future.

Projects like the newly launched DAO Whisperer will be crucial for the future of Shiba.

“DAO Whisperer (dWHISPR) is a newly formed project that’s focused on building a stronger ecosystem for all. Our mission is to create a collaborative and inclusive community that empowers our community to shape the future of the token and be rewarded for their part in our success”

Dao Whisperer, whose logo is “Elon Milan” – a combination of Elon Musk and the Dog Whisperer Ceasar Milan, was formed by collaborative Shiba Inu whales not as a “Shiba Killer” but a “Shiba Ecosystem secret weapon”. The entire DAO whisperer system is designed to accelerate building on the new Shibarium Ecosystem by donating to causes, investing in Shibarium ecosystem projects and heavily rewarding that support the cause.

“With these initiatives in place, we strive to create a truly decentralized and community led project that benefits all.” – The DaoWhisperer.com

While many projects are hoping to ride the “meme coin hype” by claiming to be a killer of another ecosystem, the Dao whisperer community understands that supporting, not destroying, others is the way forward.

Behind the scenes, the DAO Whisperer Dao has some of the most well known artists, influencers, and project owners advising and helping shape the future of meme coin projects.

Early investors expect to see many multiples on their DAO whisperer investment as well as an opportunity to usher in a new way of thinking to the masses.

As the government agencies crack down on crypto, projects like dWHISPR could make or break the adoption of DeFi. The DeFi world would benefit from spending less time trying to “kill” each others projects and more time collaborating for a more inclusive, creative and decentralized world.

Learn more:
https://thedaowhisperer.com/

TG- https://t.me/dWHISPRCHATOFFICIAL

Yuga Labs’ First Bitcoin NFT Auction Nets $16.5M In 24 Hours

by Bitcoin Admin | Mar 29, 2023 | Adoption, Bitcoin, Bitcoin101, Market News, NFT101, NFTs

On Monday afternoon, Yuga Labs Inc., the company behind the top nonfungible token series Bored Ape Yacht Club, held a sale for its first bitcoin-based collection, dubbed “TwelveFold,” and garnered $16.5 million. The company has announced that 288 successful bidders would receive one of the Bitcoin NFTs from the inventory within one week, while failed bidders will have their initial investment returned to them within twenty-four hours.

Late in February, Yuga released a new art series called TwelveFold, which he called “a graphic allegory for the encryption of data on the bitcoin blockchain” and which was “inspired by bitcoin.” Three hundred pieces of the collection’s generative art were created with that motif in mind. Although while NFTs can be launched on the bitcoin blockchain, this is not a common practise. Since the introduction of the project in January, the number of NFTs uploaded to the bitcoin blockchain that make use of Ordinals images that are “inscribed” on the blockchain has increased dramatically.

In contrast to other NFT collections from Yuga Labs, TwelveFold is the first to be distributed via the bitcoin blockchain. Bored Apes Yacht Club, Mutant Ape Yacht Club, Otherside virtual land plots, Cryptopunks, and Meebits are just some of the company’s other NFT collections that have been released on the Ethereum blockchain. Each of the 288 Bitcoin Ordinals-based NFTs was auctioned off, with the highest bidder paying just over 7 BTC. Tokens representing non-fungible digital assets, such as works of art, songs, video game items, concert tickets, and other intangible or tangible goods, are known as non-fungible tokens (NFTs), a subset of crypto assets based on blockchain technology. Due to the fact that NFTs are exchanged on blockchains and stored in crypto wallets, they have a market value that can be purchased, sold, and traded for cryptocurrency.

After only 24 hours, the auction for Yuga Labs’ first collection of Bitcoin Ordinal nonfungible tokens brought in $16.5 million. By using “satoshis,” the smallest unit of bitcoin named after bitcoin’s anonymous developer, Satoshi Nakamoto, it is feasible to store photos on the blockchain. In total, 288 lucky bidders took home a piece of Bitcoin NFT art from the “TwelveFold” series. Yuga promised the inscriptions to the winners will be sent out within a week, and he promised to refund the money to the losers within 24 hours. In a late February announcement, Yuga called the collection a “base 12 art system centred on a 1212 grid, a visual allegory for the mapping of data on the Bitcoin blockchain.” Yuga employed a recently released mechanism for adding NFTs to the bitcoin blockchain called Ordinals, which required a custom protocol.

Debate arises about the bidding process during an auction.

Since all bids had to be sent in bitcoin to a single address that Yuga managed, the auction’s technique was received with scepticism from the cryptocurrency community. They said that those who won would get their NFT and those who didn’t would get their money back. The idea of handing over money to a firm in the event of failure and then having to wait for a reimbursement was unsettling to the community. There were only 300 of these available, and the sale started on Sunday and lasted for 24 hours. There were 3,246 bids in total, with 288 buyers spending a total of $16.49 million in BTC to win the auction. Bidding went as high as 7.1159 BTC, or about $159,500, and as low as 2.2501 BTC, or just over $50,000.

Twitter user “ordinally,” whose account is dedicated to the Ordinals, chimed in on the debate as well, calling the situation a “scammer’s fantasy” because the Ordinals were “taking custody of bidders’ bitcoin.” He continued by saying that he had no evidence to suggest that Yuga was acting fraudulently, but that this would be a poor model for future auctions.

Texts From Crypto Giant Binance Reveal Plan To Elude U.S.

by Bitcoin Admin | Mar 29, 2023 | Binance, Market News

During 2017, Binance skyrocketed to prominence as a cryptocurrency exchange, eventually becoming the largest of its kind in the world. Problems arose fast. It ran mostly out of China and then Japan, but one in five of its customers were in the United States, where regulators have hinted at an impending assault on uncontrolled offshore crypto players. That would protect the larger Binance.com exchange from scrutiny from U.S. regulators, effectively blocking access from the United States. The plan was to create a minimal American platform, Binance.US, which would use Binance’s technology and brand under licence but would otherwise give the impression of being completely separate from Binance.com.

According to interviews, communications, and documents obtained by the Journal, however, Binance and Binance.US have been considerably more connected than the firms have reported, sharing staff, finances, and an affiliated entity that purchased and sold bitcoins. China-based Binance had access to potentially sensitive information about American customers since Chinese Binance developers managed the software enabling Binance.US consumers’ digital wallets. A Binance official warned colleagues in a 2019 private chat that a lawsuit from U.S. regulators would be like “nuclear fall out” for the company and its officers. According to letters and papers from 2018–2020 seen by The Wall Street Journal, as well as interviews with former workers, it appears that Binance, fearing prosecution, set out on a plan to disarm U.S. authorities.

How it all began

On Thursday, a group of lawmakers from both parties demanded answers to a list of questions stating that Binance had “kept basic financial data from its consumers and the public.” Even in nations where it is legal to do so, Binance has found itself in the crosshairs of regulatory authorities. After the failure of several cryptocurrency exchanges last year, including FTX, Binance emerged as the industry leader. In the wake of FTX’s rapid demise, U.S. regulators shifted gears and are making concerted efforts to rein in the $1 trillion cryptocurrency market.

‘Binance.US was formed exclusively to offer U.S. clients with services and goods that comply to U.S. rules and regulations,’ a representative for Binance.US explained. During those early years, we did not have enough compliance and controls in place,” a Binance representative said. Regarding legality, we are a totally different organisation now. How well Binance manages the current industry upheaval and interacts with U.S. regulators will be a barometer of crypto’s long-term viability. Binance’s chief strategy officer, Patrick Hillmann, stated last month that the exchange is prepared to pay fines to end ongoing regulatory and law enforcement probes in the United States.

Binance’s intimate connection

A Binance employee in Shanghai accidentally enabled trading on the U.S. platform a few minutes before the scheduled launch date in September 2019, prompting a discussion in a Binance-specific Telegram group. The Binance.US platform will reportedly continue to have essential software functionalities maintained by developers in Shanghai until at least the summer of 2021. According to the source, the contracts between the Shanghai developers and Binance and not the US platform.

Prosecutors claim that the loss of billions of dollars in customer funds at the defunct FTX platform was caused by an unlawful link between the market and an associated trading firm, Alameda Research. A representative for Binance.US stated that the company does not share user information with Binance and that all customer data for U.S. customers is maintained within the United States. According to the Binance.US spokesperson, “Binance.US has never—and will never—trade nor lend out customer funds,” which is in stark contrast to FTX. When asked about the nature of their partnership, representatives for both Binance and Binance.US referred to licencing agreements governing the use of Binance’s underlying technology.

According to her, Merit Peak’s participation in Binance.US ceased in 2021. The topic of Sigma Chain was not up for discussion. Binance had tremendous growth in its first two years of existence, 2017 and 2018, because it was unbound by government oversight. According to the WSJ, the SEC has also been investigating the connection between Binance.US and Merit Peak Ltd. and Sigma Chain AG, two trading entities with ties to Mr. Zhao. Binance.com was accessible from anywhere in the globe, and users were not required to do the same know-your-customer checks that are standard at banks and brokerages.

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