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btc newsAt least four wallets from bitcoin’s early days have seen signs of activity in the past few days, sparking conversations on Crypto Twitter about the possible reasons behind the activity. The investors are known as 'whales' because they hold large amounts of tokens in their digital wallets and can influence the price or sentiment around a token. One such wallet, which was last active in 2012, moved more than 400 bitcoins ($11 million) over the weekend. Another whale wallet moved 279 bitcoins earlier in April after over 10 years of inactivity. The identities of these whales are unknown, and none of them has said publicly why they are making the moves. The silence has spurred speculation on Crypto Twitter, with possible reasons ranging from developers of the dark web site Silk Road getting access to the whales' wallets to insiders in the know moving tokens ahead of bad news. Some have speculated that the holders' wallet passwords have been cracked. Old wallets have repeatedly been the target for hackers and online thieves, and earlier this month, a massive 'wallet draining operation' affected whales and early holders of ether. The movement of these whales comes on the back of several other whales moving large quantities of bitcoin and ether in the past few weeks.
Crypto traders are using the Stargate bridge in the hope of being eligible for a rumored LayerZero airdrop. Volume on the Stargate cross-chain bridge has surged by 30% in the past 24 hours, with investors attempting to meet the criteria for the airdrop. The protocol recently surpassed $1 billion in monthly volume for the first time, and the STG token has jumped by 95% in the past 24 hours. Although LayerZero hasn't announced a token, the protocol's code mentions a native token, leading to speculation of an upcoming airdrop. A number of high-profile airdrops in the past 12 months have yielded significant returns for minimal effort, and airdrop hunters are hopping on Stargate governance proposals in the hope of receiving a larger allocation of LayerZero's rumored token. More than 6.4 million STG tokens were staked for a recent proposal on whether to make decentralized exchange Velodrome an STG hub on the Optimism blockchain. LayerZero didn't immediately respond to a request for comment.
Ethereum cashHector Network, a Fantom-based protocol and OlympusDAO fork, is considering a legal wrapper to shield its decentralized autonomous organization (DAO) from regulatory scrutiny. The proposal, known as Hector Improvement Proposal 40 (HIP 40), would establish a new legal structure for the DAO, rooted in the Cayman Islands, to administer treasury and voting, and own DAO assets. However, this move has sparked criticism from the community, as it would allegedly undercut their powers and give broad powers to employees of Hector Network. The future of Hector Network is in flux, as leaders hold a vote on the plan, which ends on May 20. Other DAOs, such as SushiSwap, have also endeavored to change their legal formation in response to growing regulatory scrutiny of decentralized crypto projects. The proposal has ignited a heated debate within the Hector Network community, with some arguing that it would dilute their powers over the entity and give too much control to employees. The setup would ensure Hector’s own employees would have final say over all proposals considered by the DAO. The only non-employee, the pseudonymous Sonoro, is currently the chief of a group of “oracles,” community members who currently have the power to write HIPs but under the new setup have the right to review and comment on proposals. Lazer, a pseudonymous member of Hector’s oracle committee, said HIP 40 would give Hector “team complete power over the composition of their so-called ‘oracle group’ and therefore unilateral power to propose HIPs and further distance the community from governance.” Zeus, the pseudonymous operational lead of Hector, did not immediately comment on the setup of the steering committee. In a private message on Discord, he said “nothing will change to the token holders’ governance btw, it's just more legal protection in corporations, taxes, and possible regulatories.” Zeus said a community AMA will occur in the coming days. The proposal has sparked a heated debate within the Hector Network community, with some arguing that it would dilute their powers over the entity and give too much control to employees. The future of Hector Network is uncertain, as leaders hold a vote on the plan, which ends on May 20. Other DAOs, such as SushiSwap, have also endeavored to change their legal formation in response to growing regulatory scrutiny of decentralized crypto projects.
Molestie Faucibus btc newsLarger market participants are buying up the meme coin even as prices dunk, suggesting another leg up might be on the cards soon. Pepecoin (PEPE) traders remain unfazed by the recent price correction and are adding to their holdings in a move that suggests bullish price action for the tokens in the coming weeks. On-chain analytics tool Lookonchain said on Tuesday that three whales started to accumulate pepe tokens earlier this week amid a nearly 50% price cut. '3 whales started to buy $PEPE after the price dropped,' Lookonchain said in a tweet. '0x50C1 withdrew 1.4T $PEPE ($2.76M) from #Binance when the price was $0.000002054.' '0x2Baa bought 212B $PEPE($429K) with 223 $ETH($412K) at $0.000001942. 0x3AE8 bought 424B $PEPE($864K) with 450 $ETH($831K) at $0.000001957,' the firm added, pointing to each individual wallet holding. CoinGecko data shows PEPE has seen over $420 million traded in the past 24 hours as prices fell steeply before rebounding. The data further shows trading volumes have shifted from decentralized exchange Uniswap to crypto exchange Binance after the latter listed the tokens in its innovation zone last week. In the past 24 hours, Binance saw over $160 million worth of pepecoin trading compared to $55 million on Uniswap. A likely reason for this is more accessibility for retail traders and significantly lesser fees per trade on Binance – compared to an average of $35 per PEPE trade on Uniswap as of Wednesday, due to the network demand and a general fee spike. Elsewhere, DEXTools data shows pepe token holders crossed the 100,000 unique holders mark on Tuesday, implying continual buying activity despite a price decline and a possible reversal for the meme coin in the coming weeks. The largest pepecoin holders sit on unrealized profits of $4 million to as much as $9 million, the data show.
Vestibulum MattiAt least four wallets from bitcoin’s early days have seen signs of activity in the past few days, sparking conversations on Crypto Twitter about the possible reasons behind the activity. The investors are known as 'whales' because they hold large amounts of tokens in their digital wallets and can influence the price or sentiment around a token. One such wallet, which was last active in 2012, moved more than 400 bitcoins ($11 million) over the weekend. Another whale wallet moved 279 bitcoins earlier in April after over 10 years of inactivity. The identities of these whales are unknown, and none of them has said publicly why they are making the moves. The silence has spurred speculation on Crypto Twitter, with possible reasons ranging from developers of the dark web site Silk Road getting access to the whales' wallets to insiders in the know moving tokens ahead of bad news. Some have speculated that the holders' wallet passwords have been cracked. Old wallets have repeatedly been the target for hackers and online thieves, and earlier this month, a massive 'wallet draining operation' affected whales and early holders of ether. The movement of these whales comes on the back of several other whales moving large quantities of bitcoin and ether in the past few weeks.
btc price todayIn the first few hours of Arbitrum's governance token airdrop, entities providing liquidity to the Ethereum scaling protocol made over $500,000 in profits. The ARB tokens went live for claiming on Thursday, and the rush to claim them has resulted in significant yields for liquidity providers. According to Uniswap data, over $180 million in volume was traded on the ARB/ETH liquidity pool, netting $542,000 in fees for liquidity providers (LPs). The annualized yields on the Uniswap pool are between 90% and 100% in Asian morning hours on Friday, with the Trader Joe pool offering an even more significant 800% yield. The high yields are due to the high demand for ARB tokens, which has resulted in a significant increase in trading volume on the Uniswap and Trader Joe liquidity pools. As of Friday, over 75% of all tokens were claimed, with over 800 million ARB now held by users. The circulation supply of ARB is 1.2 billion, and the token is trading at $1.30 with a market capitalization of $1.7 billion.
Hector Network, a Fantom-based protocol and OlympusDAO fork, is considering a legal wrapper to shield its decentralized autonomous organization (DAO) from regulatory scrutiny. The proposal, known as Hector Improvement Proposal 40 (HIP 40), would establish a new legal structure for the DAO, rooted in the Cayman Islands, to administer treasury and voting, and own DAO assets. However, this move has sparked criticism from the community, as it would allegedly undercut their powers and give broad powers to employees of Hector Network. The future of Hector Network is in flux, as leaders hold a vote on the plan, which ends on May 20. Other DAOs, such as SushiSwap, have also endeavored to change their legal formation in response to growing regulatory scrutiny of decentralized crypto projects. The proposal has ignited a heated debate within the Hector Network community, with some arguing that it would dilute their powers over the entity and give too much control to employees. The setup would ensure Hector’s own employees would have final say over all proposals considered by the DAO. The only non-employee, the pseudonymous Sonoro, is currently the chief of a group of “oracles,” community members who currently have the power to write HIPs but under the new setup have the right to review and comment on proposals. Lazer, a pseudonymous member of Hector’s oracle committee, said HIP 40 would give Hector “team complete power over the composition of their so-called ‘oracle group’ and therefore unilateral power to propose HIPs and further distance the community from governance.” Zeus, the pseudonymous operational lead of Hector, did not immediately comment on the setup of the steering committee. In a private message on Discord, he said “nothing will change to the token holders’ governance btw, it's just more legal protection in corporations, taxes, and possible regulatories.” Zeus said a community AMA will occur in the coming days. The proposal has sparked a heated debate within the Hector Network community, with some arguing that it would dilute their powers over the entity and give too much control to employees. The future of Hector Network is uncertain, as leaders hold a vote on the plan, which ends on May 20. Other DAOs, such as SushiSwap, have also endeavored to change their legal formation in response to growing regulatory scrutiny of decentralized crypto projects.The Klaytn Foundation, a key developer and maintainer of the Klaytn blockchain, is making changes to the network's governance system and token model. The Foundation will aid the transition to a wholly permissionless validator structure, provide opportunities for the general public to participate as block validators, and introduce a communication channel for community members to participate in decision-making processes. These changes are expected to enhance Klaytn's technical capabilities, revenue sustainability, and decentralization aspects, making KLAY more valuable. The Foundation will work alongside the Klaytn Governance Council (GC) to make these changes, with the GC having expanded decision-making authority over the Klaytn blockchain business. The Foundation will also strengthen governance transparency by disclosing GC voting agendas and statuses in real-time through Klaytn Square. These measures aim to prevent governance dramas like those seen in recent weeks, where decentralized exchange Uniswap faced contention among community members over allegedly skewed voting rights. The Klaytn Foundation will present a revamped tokenomics proposal to the GC starting Monday, including a proposal for handling uncirculated KLAY tokens in response to community feedback. Finalized agendas and proposals will be made public on February 28 alongside a technical roadmap for 2023.
The recent slide of layer 1 blockchain Canto highlights the fickle nature of crypto investors and the current state of the DeFi sector. Canto's TVL has fallen 35% over the past month, with liquidity continuing to dry up across the sector. Despite its capabilities and offerings, Canto has suffered multiple 60% corrections and periods of consolidation. The issue may not be with the blockchain itself, but rather the lack of appetite from crypto investors as hype recedes. The overall total value locked on DeFi protocols has shrunk from $53 billion to $48 billion since April 15, with liquidity getting sucked into meme coin rug pulls and derivatives markets. To make a comeback, DeFi will need to innovate and offer unique offerings that lure fragile crypto liquidity away from 'get rich quick' schemes. The recent lack of innovation has resulted in copycat lending protocols, and DeFi developers need to think outside the box to attract liquidity.
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