Author: Sollcrypto
The cryptocurrency market has seen a notably bullish trend this week, impacting numerous major assets and even unexpected cryptocurrencies like Terra Classic (LUNC). Notably, LUNC has achieved impressive growth, with its market value increasing by nearly 16% on the weekly chart and almost 30% in just one month. The rebranded native asset of the troubled Terra (LUNA) ecosystem, Terra Classic, has undergone a remarkable recovery. This is particularly noteworthy given the substantial drop in the total value locked (TVL) on its chain in early August, reaching the lowest levels since its launch and triggering concerns about its survival. Favorable factors…
Input Output Global (IOG), a blockchain startup dedicated to advancing the Cardano network, has unveiled its most recent weekly development report. Significantly, the report spotlighted Cardano’s technical advancements across various aspects of the network as part of ongoing efforts to enhance user experiences. According to the report, improvements were made to the tooling for Ledger, the core of Cardano’s blockchain. The Ledger development team focused on addressing bugs related to the proper utilization of DRep thresholds. Additionally, the development team behind Lace Wallet, a lightweight wallet on Cardano, concentrated on enhancing its multi-staking feature. The report indicated that the team…
Octopus Network, a Web3 infrastructure leveraging the Near Protocol, has revealed the launch of its Adaptive IBC at NearCon 2023. This groundbreaking initiative is designed to foster interoperability between the Cosmos ecosystem and Near, marking a significant advancement in the blockchain industry. In a notable development, Secret Network, renowned for its emphasis on confidential computing, is set to be the inaugural user of Adaptive IBC in early 2024. This collaboration establishes the first-ever connection between the Cosmos and Near ecosystems, amplifying the capabilities of the Inter-Blockchain Communication Protocol (IBC). During NearCon 2023, Louis Liu, the founder of Octopus Network, and…
According to a traditional on-chain indicator, Bitcoin (BTC) could potentially become a “sell” at a minimum of $110,000 as it undergoes its latest bull cycle. Information from the on-chain analytics platform Look Into Bitcoin reveals that Bitcoin’s Terminal Price is indicating the possibility of a BTC price peak surpassing six figures. Will the price of BTC reach six figures in the next cycle? As the price of BTC reaches its highest levels in 18 months, analysts are already contemplating its potential trajectory over the coming months and years. Post the next block subsidy halving in April 2024, price targets, including…
The realization of a secure and user-friendly decentralized internet, underpinned by a shared economic framework and embraced by billions, hinges on the development of essential infrastructure. Scaling solutions, commonly referred to as Layer 2, play a pivotal role in establishing this foundation and augmenting Ethereum’s capabilities. These initiatives collaborate to create a resilient ecosystem driving Ethereum toward its ultimate potential. In this article, we will explore the innovations and narratives surrounding Layer 2 networks. We will address the challenges confronting these networks and their potential to bring about a transformative impact on Ethereum’s widespread adoption. Our analysis will draw upon…
The world’s largest cryptocurrency, Bitcoin, has surged past the $37,000 price threshold, reaching an 18-month high. Over the last 24 hours, Bitcoin has recorded a nearly 5% increase, and as of the current moment, it is trading at around $37,670, with the $38,000 mark within close reach. The remarkable upswing in the cryptocurrency’s value can be attributed to heightened expectations surrounding the potential approval of Bitcoin spot ETFs by the U.S. regulatory body, the SEC, this year. According to analysts at Bloomberg, a “brief window” for the SEC to greenlight all 12 Bitcoin-based spot ETFs, including Grayscale’s, has opened today,…
On November 9, the cryptocurrency market experienced a widespread uptrend, driving Bitcoin (BTC) to an 18-month high, with the leading digital token approaching the $38,000 mark. This surge coincided with Solana’s market capitalization crossing the $20 billion threshold, marking the first time it had reached this level since the summer of 2022, a period marked by Terra’s decline and subsequent financial troubles for prominent firms such as Three Arrows Capital. During the course of 24 hours and a seven-day period, Solana (SOL) recorded significant double-digit gains. These developments raised optimism among cryptocurrency enthusiasts, suggesting that the crypto winter might be…
Near Foundation is entering the competitive race to create innovative “data availability” solutions that aim to alleviate the Ethereum blockchain’s burden of storing and broadcasting large amounts of data. The non-profit organization, dedicated to supporting the Near Protocol blockchain, has unveiled a new offering called “NEAR DA.” They claim that posting data on their network could be 8,000 times cheaper than doing so on Ethereum. NEAR DA, similar to Celestia and its recent airdrop of TIA tokens, aims to provide an alternative platform capable of handling data generated by a rapidly expanding network or auxiliary blockchains (also known as “layer-2…
Ethereum (ETH) Achieves a Breakthrough Pointing Toward a Potential Bullish Reversal A thorough examination of Ethereum’s price chart unveils a significant breakthrough, suggesting the initiation of a broader market recovery. Ethereum’s price has recently surged above a critical resistance level, characterized by the convergence of its 50-day and 100-day Exponential Moving Averages (EMAs), represented by blue and red lines. Such technical developments carry considerable weight in the eyes of traders, often interpreted as robust bullish signals, particularly when accompanied by increased trading volume. This positive sentiment surrounding Ethereum is not an isolated occurrence. Historically, Ethereum’s market movements have exerted a…
Bitcoin (BTC) has persistently maintained its upward trajectory, recovering to surpass the $35,000 threshold in the early hours of Monday, after a temporary setback tied to legal matters surrounding FTX founder Sam Bankman-Fried. The prevailing market sentiment, as measured by the Fear & Greed Index, presently registers at 73, signifying a state of heightened “greed.” Another contributing factor may stem from the United States reporting the addition of 150,000 jobs in October, which fell short of the anticipated 180,000 and marked a decline from the 297,000 jobs added in September. Additionally, the unemployment rate increased to 3.9 percent, surpassing the…