Lưu trữ hàng tháng: Tháng tám 2024

Altcoin

Polygon on-chain activity spikes despite MATIC price dip

Để lại phản hồi

Polygon has recorded a notable increase in on-chain activity despite the bearish flip in crypto that has sent MATIC plummeting.

While the Polygon (MATIC) price could continue to struggle amid the weakness that currently engulfs Bitcoin (BTC) and the broader crypto market, analysts say the surge in on-chain activity suggests a potential reversal for MATIC.

Data shows Polygon’s network has witnessed a spike in both daily active addresses and dormant coins movement.

Polygon on-chain activity spikes

Santiment notes that Polygon has witnessed a significant spike in dormant MATIC coins on the move. The platform points to the Age Consumed metric, an indicator that tracks movement of dormant tokens by measuring how many long held coins are moving across addresses.

Age Consumed data is a calculation that multiplies the number of coins on the move by the duration since their last transfer.

Notable also is the sharp increase in daily active addresses. According to Santiment’s data, a total of 3,369 addresses interacted on-chain on Polygon as the Age Consumed metric spiked. The active addresses count was the second-highest day of the year. 

IntoTheBlock data also shows a surge in active addresses since Aug. 26, with more than 1,000 new addresses on Aug. 27.

Polygon MATIC new and daily active addresses chart. Source: IntoTheBlock

What does this mean?

An increase in the Age Consumed metric often suggests a flip in sentiment for long-term holders. Historically, this has coincided with the particular token’s price witnessing notable changes.

Polygon has been among the many networks declining since crypto’s retrace began back in March. However, a notable spike in on-chain activity may be a sign that a MATIC reversal may be brewing soon. Active addresses and dormant coin spikes are common signals preceding this.

Santiment wrote on X.

In Polygon’s case, the Age Consumed measure spiked to 69 billion MATIC as the altcoin’s price dropped amid the latest crypto weakness. The local top relating to this was around $0.58, and Polygon’s price has dropped 14% so far.

Despite this weakness, the two on-chain indicators suggest investors may view MATIC’s dip as an opportunity to buy low.

Tổng hợp và chỉnh sửa: ThS Phạm Mạnh Cường
Theo Crypto News

DeFi

Bitcoin L2 network Mezo launches yield token stBTC

Để lại phản hồi

Mezo, a Bitcoin layer-2 network aiming to expand the decentralized finance (DeFi) market on the flagship blockchain, has launched its liquid-staked Bitcoin token, stBTC.

The introduction of stBTC brings Bitcoin (BTC) yield to Mezo, the Pantera-backed project announced on Aug. 28.

StBTC is a token backed 1:1 with tBTC, the Bitcoin bridge token powered by The Threshold Network.

According to Mezo, users can now mint stBTC against their Wrapped Bitcoin (WBTC) and tBTC, a Bitcoin-backed token that allows holders to participate in Ethereum (ETH) DeFi applications.

Expanding BitcoinFi

Mezo claims that depositing WBTC and tBTC on Mezo and minting stBTC will allow users to earn yield across DeFi apps in the growing Bitcoin DeFi space. BTC holders can mint the liquid-staked token and leverage its benefits on Curve Finance while maintaining exposure to their bitcoins.

“As early HODLers, many of us have watched our Bitcoin grow in value over the years. But we’ve also watched DeFi unfold, often feeling like we had to choose between holding our Bitcoin and participating in these new financial opportunities.”

Mezo on X.

According to Mezo’s post, decentralized exchanges, lending markets, and Bitcoin L2 platforms that have deployed tBTC include Morpho Protocol, Silo Finance, Beefy, and Velodrome. The team plans to expand to top DeFi and DEX platforms, including Aave, GMX, and Synthetix.

Thesis, the venture studio behind projects such as AcreBTC, Fold Bitcoin, and Taho, is also the developer of Mezo.

Tổng hợp và chỉnh sửa: ThS Phạm Mạnh Cường
Theo Crypto News

NFT

OpenSea dự kiến sẽ bị SEC Hoa Kỳ kiện vì NFT là chứng khoán

Để lại phản hồi

Theo đồng sáng lập và CEO Devin Finzer cho biết hôm thứ 4, thị trường NFT nổi tiếng OpenSea đang chờ một vụ kiện từ Ủy ban Chứng khoán và Giao dịch Hoa Kỳ (SEC) liên quan đến việc liệu NFT có nên được coi là chứng khoán hay không.

Devin Finzer – CEO OpenSea 

“OpenSea đã nhận được Thông báo Wells từ SEC đe dọa sẽ kiện chúng tôi vì họ tin rằng NFT trên nền tảng của chúng tôi là chứng khoán. Chúng tôi rất sốc khi SEC lại có động thái càng quét như vậy đối với những người sáng tạo và nghệ sĩ. Nhưng chúng tôi đã sẵn sàng đứng lên và đấu tranh”, Finzer đã tweet.

 

 

Đình Đình

Theo Decrypt

Bitcoin

Analyst remains bullish on Cipher after 2.5 GW energy expansion in Texas

Để lại phản hồi

Analysts at H.C. Wainwright & Co. believe Cipher’s recent acquisition in Texas will enhance its strategic operations.

Cipher recently announced the acquisition of a 300 MW development site in West Texas, increasing its total energy pipeline to over 2.5 GW across 10 locations, according to analysts at H.C. Wainwright.

The deal, valued at $67.5 million or $225,000 per MW, also includes a $3 per MWh variable fee for the first five years post-energization. This acquisition is notable for its front-of-the-meter capacity, a fully energized substation, and 250 acres of surrounding land.

While the company’s management did not provide details on construction and energization timelines, they highlighted the site’s potential for high-performance computing infrastructure and Bitcoin (BTC) mining. 

Acquisition details

The analysts view the acquisition as a strategic move to secure low-cost power in West Texas, a region known for its attractive energy pricing, likely ranging between 2 and 3 cents per kWh. 

The full build-out of the site could require an additional $67.5 million, assuming its use for BTC mining.

The research firm reiterated their Buy rating of Cipher’s stock, with a $7 price target, reflecting a 7.0x market cap-to-revenue multiple on their 2025 revenue estimate of $313.5 million. However, risks include BTC price volatility, increasing network hash rates, and potential shareholder dilution.

At the time of writing, Cipher’s stock, ticker CIFR, is trading at $3.70.

Tổng hợp và chỉnh sửa: ThS Phạm Mạnh Cường
Theo Crypto News

Phân tích

Why is Solana down by 30% from its 2024 high?

Để lại phản hồi

Solana price has remained in a deep bear market, falling by over 30% from its highest point in 2024.

Solana (SOL), the fifth-largest cryptocurrency in the industry, was trading at $145, down from its year-to-date high of $210. Its valuation has retreated from a YTD high of $86 billion to $68 billion.

SOL is in a bear market because of its correlation with Bitcoin (BTC) and other altcoins. Bitcoin has dropped by almost 20% from the YTD high while coins like Ethereum (ETH), Avalanche (AVAX), and Cardano (ADA) are down by over 30%.

Altcoins like Solana typically make bigger moves than Bitcoin. They perform better when Bitcoin is rising and significantly underperform when it is in a downtrend. For example, BTC rose by 70% between Jan. 1 and March 24, while SOL and ETH rose by over 80% during the same period.

Solana has also retreated as it faces substantial competition from Tron (TRX), which recently launched SunPump, a meme coin generator. The DEX volume on Solana in the past seven days has fallen by almost 9% while Tron’s has risen by over 210% to $1.70 billion. 

Most of Solana’s meme coins have also retreated. Dogwifhat has dropped by almost 70% from its highest level this year, while Book of Meme (BOME) has fallen by 80% from its all-time high.

Tron has also overtaken Solana in DeFi total value locked, the number of active addresses, and stablecoins. Tron has over $8.3 billion in assets, 2.47 million in addresses, and almost $60 billion in stablecoins. In comparison, Solana has $5.16 billion, 1.74 million, and $3.9 billion, respectively.

Solana’s futures open interest has fallen

Meanwhile, Solana’s open interest in the futures market has been in a downtrend. Most recently, the interest peaked at $3 billion in July and has pulled back to $2 billion, signaling waning demand.

Solana open interest | Source: CoinGlass

Solana has also dropped because of the ongoing performance of spot Ethereum ETFs. The latest data shows that they have not become popular. They have had cumulative outflows of $481 million and have shed assets in five of the last six weeks. 

Therefore, if the trend continues, there is a likelihood that companies like Blackrock, Fidelity, and Franklin Templeton will not apply for a spot Solana ETF. The SEC has also been reluctant to approve these funds. Earlier this month, the agency turned down Cboe Global Markets’ 19b-4 filing for a Solana fund.

Solana price chart | Source: TradingView

Technically, as shown above, the pullback is likely part of the formation of a bullish flag pattern. It is also part of the hand section of the cup and handle pattern on the weekly chart. If these patterns work out well, Solana will likely bounce back later this year.

Tổng hợp và chỉnh sửa: ThS Phạm Mạnh Cường
Theo Crypto News

NFT

OpenSea CEO vows to fight SEC Wells Notice

Để lại phản hồi

NFT marketplace OpenSea received a Wells Notice from the U.S. SEC, indicating intent to sue the web3 startup.

The Securities and Exchange Commission’s crackdown on allegedly non-compliant crypto service providers has now targeted OpenSea, one of Ethereum’s (ETH) first and largest digital collectible trading platforms. 

SEC investigators issue Wells Notices as a precursor to potential lawsuits, although this step doesn’t always result in legal action.

Reacting to the news on Aug. 28 and alerting the community, OpenSea CEO Devin Finzer said the firm is “ready to stand up and fight” the SEC’s move to stifle innovation and unfairly scrutinize thousands of creators.

We should not regulate digital art in the same way we regulate collateralized debt obligations.

Devin Finzer, OpenSea CEO

Finzer echoed concerns within the crypto community regarding the SEC’s rigid approach to cryptocurrencies and now non-fungible tokens (NFTs), emphasizing that NFTs are fundamentally different from the investment contracts typically regulated by the Wall Street watchdog.

In an X post, Finzer indicated that OpenSea plans to join contemporaries like Coinbase, Consensys, Kraken, Robinhood, and Uniswap in defending against the SEC’s probes and securities allegations.

Finzer and OpenSea also committed $5 million to a legal fund to support creators and developers affected by the SEC’s Wells Notice.

It would be a terrible outcome if creators stopped making digital art because of regulatory saber-rattling.

The SEC has unleashed litigations against a swathe of crypto-related entities in the last two years, including NFT projects such as Ashton Kutcher and Mila Kunis’ owned Stoner Cats, but this was the first time federal prosecutors scrutinized a digital collectibles trading venue.

Tổng hợp và chỉnh sửa: ThS Phạm Mạnh Cường
Theo Crypto News

Bitcoin

CIO Bitwise: Bình luận ôn hoà của Jerome Powell có thể châm ngòi cho một bull run Bitcoin mới

Để lại phản hồi

CIO Bitwise Matt Hougan tin rằng những bình luận ôn hòa gần đây của Chủ tịch Cục Dự trữ Liên bang Hoa Kỳ Jerome Powell có thể thổi bùng một thị trường tăng giá mới cho Bitcoin.

Trong một lưu ý gửi tới các nhà đầu tư vào ngày 27 tháng 8, Hougan nhấn mạnh rằng tuyên bố của Powell đã làm giảm bớt một số sự không chắc chắn xung quanh Bitcoin.

Vào ngày 21 tháng 8, Powell ám chỉ rằng việc cắt giảm lãi suất sắp xảy ra. Thông điệp này đã khơi dậy sự lạc quan trong số các nhà đầu tư, những người tin rằng lãi suất thấp hơn sẽ có lợi cho Bitcoin.

Tại sao Bitcoin sẽ tăng?

Hougan lưu ý rằng phát biểu của Powell báo hiệu sự khởi đầu của chu kỳ cắt giảm lãi suất vào năm 2024-2025. Theo ông, hợp đồng tương lai CME hiện dự đoán khả năng cắt giảm lãi suất tại cuộc họp vào tháng 9 là 100%, với khả năng giảm 200 điểm cơ bản (2%) trong năm tới.

Theo truyền thống, việc cắt giảm lãi suất như vậy có lợi cho các tài sản rủi ro như Bitcoin. Hougan giải thích rằng lãi suất thấp hơn làm giảm hệ số chiết khấu được sử dụng để tính giá trị tài sản dài hạn, điều này có xu hướng đẩy giá lên cao hơn. Ngoài ra, việc cắt giảm lãi suất có xu hướng thúc đẩy tâm lý thị trường.

Do đó, Hougan tin rằng các nhà đầu tư bên lề có thể sẽ hành động, khi triển vọng thị trường rõ ràng hơn.

“Một trong những câu nói lâu đời nhất trong đầu tư là ‘Đừng chống lại Fed.’ Câu này thường được dùng để cảnh báo các nhà đầu tư không nên mua cổ phiếu và các tài sản rủi ro khác khi Fed tăng lãi suất. Nhưng câu nói này cũng có tác dụng ngược lại. Khi lãi suất giảm, ‘Đừng chống lại Fed’ có nghĩa là ‘đừng ngồi ngoài trong khi các tài sản rủi ro tăng lên.’”

Hougan thừa nhận rằng thị trường tăng giá có thể không dễ dàng do những bất ổn đang diễn ra, bao gồm các cuộc bầu cử sắp tới của Hoa Kỳ, khả năng bán Bitcoin của chủ nợ Mt. Gox và Chính phủ Hoa Kỳ, và khả năng Ủy ban Chứng khoán và Giao dịch (SEC) thực thi các hành động trước khi năm tài chính kết thúc.

Bất chấp những lo ngại này, Hougan tin rằng tuyên bố của Powell sẽ đánh dấu sự khởi đầu của một “kỷ nguyên mới” cho BTC.

Osprey Funds

Dự đoán lạc quan của Hougan xuất phát từ kế hoạch mua lại tài sản của đối thủ Osprey Bitcoin Trust.

Trang web của Osprey cho thấy quỹ tín thác của họ có hơn 123 triệu đô la tài sản được quản lý tính đến ngày 26 tháng 8.

Theo thỏa thuận, người nắm giữ đơn vị OBTC sẽ nhận được cổ phiếu BITB trong đợt phân phối thanh lý. Thỏa thuận này cũng được thiết kế để miễn thuế cho người nắm giữ OBTC theo luật thuế thu nhập liên bang Hoa Kỳ.

Osprey Funds tuyên bố rằng thông tin chi tiết hơn sẽ được cung cấp trong báo cáo đăng ký sẽ được nộp lên SEC.

Giao dịch dự kiến ​​sẽ hoàn tất vào cuối năm nay, tùy thuộc vào các điều kiện hoàn tất thông thường.

 

 

   

Itadori

Theo Cryptoslate

Phân tích

Rock meme coin rockets on Justin Sun speculation

Để lại phản hồi

Rock, a new meme coin on the SunPump ecosystem, was one of the top-performing cryptocurrencies, driven by speculation that Justin Sun had invested in it.

ROCK (ROCK) token surged nearly 100%, reaching a high of $0.003375, which gave it a market cap of over $3.3 million.

The token’s spike followed a social media post suggesting that Sun, the founder of Tron (TRX), had invested in the meme coin. The official X account of Rock reposted the speculation, although Sun has not yet confirmed this.

A confirmation of Sun’s investment would be significant due to his influence in the crypto industry.

In addition to starting Tron, Sun also acquired BitTorrent (BTT) in 2018 and serves as a senior advisor for HTX, formerly known as Huobi. He also launched USDD, a stablecoin with over $700 million in assets. According to Arkham, Sun’s crypto portfolio is valued at over $1 billion.

Rock, which describes itself as “nothing but a useless meme coin,” is one of the top tokens vying for attention in the crypto industry. It is different from Rock, another Ethereum meme coin whose price was down by 20%.

Some of the other big tokens in the SunPump ecosystem are Sundog (SUNDOG), with a market cap of $247 million and Dragon Sun, with a valuation if $28 million. Collectively, SunPump tokens have accumulated over $366 million in value.

Additionally, SunPump trading activity has generated over $30 million in fees, less than two weeks after launch. As a result, Sun confirmed that SUN community would vote for the first revenue burn.

Still, judging by the past performance of meme coins, investing in Rock is a high-risk and high-reward activity. In most periods, meme coins surge in their initial days and then retreat when the momentum fades.

For instance, Dogecoin (DOGE) soared to $0.7587 after Elon Musk’s endorsement in 2021 but has since dropped by over 87% to $0.098. Shiba Inu (SHIB) also saw a peak at $0.000089, followed by an 85% decline.

Similarly, recently launched meme coins like Dogwifhat, Popcat, and Book of Meme saw initial gains but have since retreated by double digits.

Tổng hợp và chỉnh sửa: ThS Phạm Mạnh Cường
Theo Crypto News

Công nghệ

DecideAI launches its GPT-2 LLM on Internet Computer

Để lại phản hồi

Artificial intelligence-focused startup DecideAI has reached a key milestone with the full on-chain implementation of its large language model GPT-2.

On Aug. 28, DecideAI announced that its GPT-2 LLM had been deployed on the Internet Computer (ICP), a step that brings a decentralized approach to the training, maintenance and deployment of AI. Decentralized AI eliminates the pitfalls that beleaguer centralized AI development, the startup noted in the press release shared with crypto.news

Why the Internet Computer?

Launched by the DFINITY Foundation, the Internet Computer is a blockchain and web3 platform that enables developers to build and run decentralized applications entirely on the blockchain. This approach eliminates the need for centralized IT infrastructure, such as cloud computing services from major tech providers.

DecideAI is leveraging this decentralized ecosystem to democratize access to AI model training and deployment.

Key features of the Internet Computer include a virtual machine that uses WebAssembly to support floating-point numbers and deterministic SIMD, enabling parallel computation. DecideAI will also take advantage of ICP-native AI optimization.

“Today, the Internet Computer is the only blockchain capable of running a major LLM fully on-chain, offering the sufficient memory and compute power required to sustain a 100% decentralized AI.”

Raheel Govindji, CEO and founder of DecideAI.

DecideAI to expand Ethereum and Solana

Notably, the launch of the GPT-2 LLM on ICP opens up AI models to the benefits of interoperability, transparency and blockchain security. In the future, DecideAI will also leverage Internet Computer’s Chain Fusion technology, which allows for protocol-level blockchain integration, to expand its AI models to Ethereum (ETH) and Solana (SOL).

DecideAI’s GPT-2 large language model implementation on the Internet Computer will be powered by the web3 startup’s native token DCD.

Tổng hợp và chỉnh sửa: ThS Phạm Mạnh Cường
Theo Crypto News