Monat: Januar 2023

Crack the Bitcoin Wallet and Win 4 Million Sats!

• Wasabi Wallet opened a challenge for users to ‚crack‘ a Bitcoin wallet to educate the public on blockchain security.
• The project, titled ‚Hunting Sats,‘ is backed by Swan Bitcoin, Trezor, Blockstream, and several other respected companies in the Bitcoin space.
• As of press time, four words have been revealed, blast, hollow, state, and monkey.

Wasabi Wallet recently launched a unique educational competition in an effort to promote healthy wallet security. Titled ‚Hunting Sats‘, the project involves ‚cracking‘ a Bitcoin wallet loaded with over 4 million Sats. The project is supported by well-respected companies in the Bitcoin space, such as Swan Bitcoin, Trezor, and Blockstream.

The competition is a novel way of demonstrating the strength of cryptography and the security of private keys. To crack the wallet, users must guess the 12-word BIP-39 seed phrase. The words are distributed among the partners, with a new word to be revealed daily. The chance of anyone correctly guessing the seed phrase is virtually zero.

As of press time, four words have been revealed, blast, hollow, state, and monkey. The Hunting Stats website explains that as more words from the seed phrase are revealed, the weaker it becomes. As a result, Wasabi Wallet is urging users to take their time when setting up a wallet, as security is paramount.

The competition will come to an end on Jan. 30th, when the final words of the seed phrase will be revealed. It is hoped that the event will raise awareness of the importance of blockchain security and help users to protect their funds from theft.

Bitcoin Fear and Greed Index Reaches Greed Zone: Bullish Sentiment for BTC

• The Bitcoin Fear and Greed Index (FGI) has recently entered the “greed” zone for the first time since March 30, 2022.
• The index uses a combination of technical and fundamental analysis to measure the sentiment of the market, taking into account volatility, market momentum/trend, trading volume, social media sentiment, and surveys of investors and traders.
• The index ranges from 0 to 100, with a higher score indicating a higher level of fear and a lower score indicating a higher level of greed.

The Bitcoin Fear and Greed Index (FGI) has recently entered the “greed” zone for the first time since March 30, 2022, signaling a bullish sentiment for the original cryptocurrency. The index, which is published by alternative.me and measures the sentiment of the market, has been steadily increasing since BTC dropped to below $16,000 and a two-year low in 2022.

The FGI uses a combination of technical and fundamental analysis to measure the sentiment of the market. It takes into account a variety of data points, including volatility, market momentum/trend, trading volume, social media sentiment, and surveys of investors and traders. The index ranges from 0 to 100, with a higher score indicating a higher level of fear and a lower score indicating a higher level of greed.

The recent entry into the “greed” zone is a sign that investors and traders are feeling confident in the market. This is reflected in the fact that BTC has remained stable at around $23,000 going into the weekend and is up nearly 40% year-to-date.

The FGI is a useful tool for investors and traders as it gives them insight into the sentiment of the market and helps them to make informed decisions. It also serves as a reminder to not get too caught up in the hype and to take into account the risks associated with investing in the cryptocurrency market.

(including spaces): Conflux Surges 60% After Little Red Book NFT Integration

• Conflux native token (CFX) has surged up to 60% in the last 24 hours, following the protocol’s successful integration with the Chinese app called Little Red Book.
• Little Red Book announced on Jan. 24 that it has integrated with Conflux to allow its users to mint their non-fungible tokens (NFTs).
• The NFT integration will allow over 200 million Little Red Book users to mint their profile pictures on the Conflux blockchain.

Conflux, a layer 1 blockchain protocol designed to connect creators, communities, and markets across protocols and borders, has recently announced a successful integration with the Chinese app Little Red Book. This integration has caused the Conflux native token (CFX) to surge up to 60% in the last 24 hours.

Little Red Book is an app with over 200 million users who can use its services to share information, reviews, and photos. On Jan. 24, the company announced its integration with Conflux, allowing its users to mint their non-fungible tokens (NFTs). The NFTs minted on the Conflux network can be displayed on their profile page in the digital collection section called R-Space. This integration will allow the users of Little Red Book to mint their profile pictures on the Conflux blockchain.

This news has caused CFX to surge up to 60% in the last 24 hours and is now trading at $0.05. CryptoSlate data also shows that CFX has surged to nearly 100% in the last seven days. This news of NFT integration has been celebrated by many in the crypto industry as it further solidifies China’s pro-NFT position.

Conflux is an ambitious project with a mission to create a “global open finance infrastructure”. The integration with Little Red Book is a major step towards achieving this goal. This will open the door to more users to join the Conflux network and take advantage of its many features. With the surge in price, it is clear that the market is optimistic about the success of this integration. It will be interesting to see where Conflux goes from here and if it will be able to live up to the expectations of its users.

Vitalik Buterin Proposes New Approach to Stealth Addresses for Blockchain Privacy

• Ethereum creator Vitalik Buterin has proposed a general approach to stealth addresses, which hide the recipient of certain blockchain transactions.
• Buterin suggested two solutions to the issue of transaction fees, one involving ZK-SNARKS and the other involving specialized transaction aggregators.
• Buterin also noted that stealth addresses could make it more difficult to create social recovery wallets.

Ethereum creator Vitalik Buterin has put forward a new approach to stealth addresses to provide greater privacy for blockchain users. Stealth addresses are a way to hide the recipient of certain transactions, making them more difficult to trace. Buterin noted that while stealth addresses provide a privacy benefit, they come with the issue of transaction fees. To solve this issue, Buterin proposed two solutions. The first solution involves the use of ZK-SNARKS, which is an expensive approach. The second involves using specialized transaction aggregators, which is a more economical option.

Buterin also noted that stealth addresses can make it difficult to create social recovery wallets, which are wallets that can be recovered by third parties if the main holder loses their private key. To address this issue, Buterin proposed various solutions, though he acknowledged that recovering a wallet can be expensive. He also distinguished stealth addresses from the privacy-focused protocol Tornado Cash.

In conclusion, Buterin’s proposal offers an interesting approach to providing greater privacy for blockchain users. Though there are still some challenges to address, it offers an interesting solution to the issue of privacy on public blockchains. Whether or not this feature will be added to Ethereum remains to be seen.

Welcome to the Bitcoin Standard: A Revolutionary New Financial System

• Bitcoin has an intended use case as a new, global, digital, decentralized, permissionless, non-custodial, and apolitical monetary and financial system.
• The other crypto assets and tokens have riskier, more speculative use cases that may not stand the test of time.
• Bitcoin’s intention is to move away from central banking and towards a bitcoin standard.

The concept of cryptocurrencies and the blockchain technology that allows them to exist has revolutionized the world of finance. Bitcoin, the first and most popular of these digital assets, was created to provide a new, global, digital, decentralized, permissionless, non-custodial, and apolitical monetary and financial system. Unlike the current central banking system, Bitcoin aims to reward and protect savers much more efficiently.

The crypto market has experienced rapid expansion over the past decade. Thousands of alternative crypto assets and tokens have been created, and while these assets have been made possible by Bitcoin’s seminal use of blockchain technology, their purpose and utility are very different from that of Bitcoin. Many of these alternative assets are far riskier and more speculative. This means that their use cases may not stand the test of time, and could reintroduce many of the same issues that Bitcoin was intended to solve, such as trust and counterparty risk.

The underlying point of Bitcoin is a move away from central banking and towards a bitcoin standard. This would involve restructuring the economy with a greater emphasis on savings and less speculation or outright gambling in the financial markets. This type of standard would reduce the power of central banks and increase the power of individuals and investors.

In summary, Bitcoin is a revolutionary new approach to monetary and financial systems, while the rest of the crypto market is more speculative and involves more risk. Bitcoin’s main goal is to move away from central banking and towards a bitcoin standard, which would provide more incentives for savings and reduce the amount of gambling in the financial markets.

Bitcoin and Ethereum Dominate Crypto Market, Market Cap Nears $1 Trillion

• Bitcoin dominance has hit 41.5%—the highest level in six months.
• Ethereum dominance is also up and currently stands at 19.4%.
• The market cap for the entire crypto space sits at just under $1 trillion.

Cryptocurrencies have been on a massive bull run over the last few months, and Bitcoin has been at the forefront of it. According to data from Glassnode, Bitcoin dominance has hit 41.5% as of January 20th—the highest level over six months. This means that Bitcoin is currently dominating the cryptocurrency market, with a significant portion of the market cap being attributed to the world’s largest cryptocurrency.

This surge in Bitcoin dominance can be attributed to the immense amount of capital that has been flowing into the cryptocurrency space over the last few months. As institutions and retail investors alike look to gain exposure to the digital asset, more and more money is being poured into the cryptocurrency market. This has caused Bitcoin’s market cap to increase significantly, allowing it to take up a larger portion of the entire cryptocurrency market.

But Bitcoin isn’t the only cryptocurrency doing well. Ethereum, the second-largest cryptocurrency by market cap, has also seen its dominance increase as of late. According to data from Glassnode, Ethereum dominance is currently at 19.4%, the highest it has been in six months. This increase in Ethereum’s dominance can be attributed to the increasing demand for Ethereum-based applications and DeFi protocols, which have seen an influx of capital over the last few months.

The bullishness in the cryptocurrency market has also been reflected in the overall crypto market cap, which currently sits at just under $1 trillion. This is a significant milestone for the industry, as it shows that cryptocurrencies have come a long way from the days of being considered a niche asset class.

Overall, Bitcoin and Ethereum’s increasing dominance in the crypto market is a reflection of their immense popularity, and it is likely that the two cryptocurrencies will continue to dominate the market in the near future. With more and more money pouring into the cryptocurrency space, it is only a matter of time before the market cap of the entire crypto space surpasses the $1 trillion mark.

3.93B Stablecoins Leave Exchanges Amid Market Uncertainty

• Stablecoins have grown in popularity due to their stability against cryptocurrency volatility.
• At the moment, USDT is the largest stablecoin by market cap, followed by USDC, Binance USD, and DAI.
• After the collapse of FTX, market uncertainty and low trust in centralized exchanges have caused 3.93 billion stablecoins to leave exchanges in the last 30 days.

The stablecoin sector has seen a surge in growth in recent times, with their popularity rising due to their stability against cryptocurrency volatility. USDT remains the largest stablecoin by market cap, followed by USDC, Binance USD, and DAI. Combined, these four stablecoins make up more than $130 billion of the total $138 billion stablecoin market cap, according to CoinMarketCap.

At the moment, about 37 billion stablecoins are held in reserves of cryptocurrency exchanges, with Binance as the highest holder, with about $24 billion in stablecoins. Other exchanges like Coinbase, Huobi, Bitfinex, Gemini, and Gate.io also hold significant amounts of stablecoins in their reserves.

However, after the collapse of FTX, market uncertainty and low trust in centralized exchanges has caused a considerable outflow of stablecoins from exchanges. In the last 30 days, 3.93 billion stablecoins have left exchanges, in a sign of the lack of trust in centralized exchanges.

The uncertainty and lack of trust in centralized exchanges has caused some investors to look towards decentralized exchanges, as they provide more security and trust. As the cryptocurrency industry continues to grow, it will be interesting to see how the stablecoin sector develops and how it will affect the decentralized and centralized exchanges.

Meld Denies Insider Trading Allegations, Reassures Cardano Community

• Meld responded to accusations of insider trading, denying any wrongdoing
• TapTools conducted on-chain analysis and identified a series of large token sales from an address owned by a private sale token holder
• Meld stated it has no control over the actions of private sale token holders

Cardano-based Meld protocol has responded to allegations of insider trading, denying any wrongdoings on their part. TapTools, a blockchain analytics company, conducted on-chain analysis and identified a series of large token sales from an address which they believed was controlled by an insider.

The address had sold tokens worth 1.24 million ADA, or about $405,000 at today’s price. Additionally, there were two other associated addresses that also sold tokens without having purchased any, which amounted to 1.04 million ADA, or around $340,000. TapTools asked where the tokens had come from and suggested that the address was connected to an insider.

In response, Meld stated that the address belongs to a private sale token holder, and that they have no control over the actions of private sale token holders. The company further clarified that none of their staff were involved and had not benefited from the token sales.

Meld is a DeFi, non-custodial banking protocol and is a part of the Cardano ecosystem. It focuses on providing users a secure and decentralized way of managing their funds. It has a native token, MELD, which is used to pay for transactions on the platform.

The news of potential insider trading sparked a wave of panic in the Cardano community, with many users concerned that the allegations could negatively impact the project. Meld has been quick to respond to the allegations, and their denial of any wrongdoing should provide some reassurance to the community.

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