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Công nghệ

Nansen integrates token and wallet tracking tools into Solana

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Nansen has announced a new integration into Solana. This integration will provide advanced token and wallet tracking tools to analyze the Solana ecosystem.

In a press release sent to crypto.news on Oct. 17, blockchain analytics firm Nansen announced a new integration into the Solana(SOL) Network which will enable Nansen to offer comprehensive wallet attribution and data analysis previously untouched upon by the protocol.

The Nansen platform will include features such as a Wallet Profit and Loss or “Wallet PnL”, designed to track portfolio management and “Signals” that identify market trends using on-chain AI. Nansen also provides “Token Screener” to give performance insights on current tokens and “Smart Money” which can track the movements of investors and whales within the Solana ecosystem.

By integrating these features into Solana, Nansen will be able to bridge the gap between existing Solana data analysis tools and those found within other ecosystems.

Now, Nansen can provide much more comprehensive and deeper token and wallet analytics that bring clarity to the complex and ever-evolving Solana ecosystem

CEO of Nansen, Alex Svanevik, stated that the integration between Solana and the Nansen platform is a crucial steps towards advancing the blockchain analytics market.

 “By offering in-depth token and wallet-level data, we’re giving investors the tools they need to navigate Solana with confidence. This launch marks a pivotal moment for Web3 analytics,” said Svanevik.

Nansen offers a set of token and wallet tracking tools that can track balances in real-time and follow wallet movements within Solana’s ecosystem, so that users can follow the movement of assets and identify trends, risks, and opportunities.

Additionally, Nansen provides millions of wallet labels such as “Memecoin Whale” and “Token Deployer” used to identify key players, including whales and investors.

Finally, Nansen recognizes the distinction between Solana Virtual Machine and EVM. Therefore, the integration with Solana offers tailored solutions for EVM and non-EVM views across 16 different blockchains which include all major Ethereum Layer 2s.

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Theo Crypto News

DeFi

Fracture Labs accuses Jump trading of market manipulation in new lawsuit

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A lawsuit filed by game developer Fracture Labs accuses Chicago-based trading giant Jump Trading of running a pump-and-dump scheme.

According to an Oct. 15 filing, Fracture Labs has accused Jump Trading of misusing its role as a market maker to artificially inflate the value of its DIO token, the native cryptocurrency for the web3 game Decimated, before offloading it for millions in profit.

Per the complaint, the two companies entered into an agreement in 2021 in which Jump would act as a market maker for the initial offering of DIO on Huobi, now known as HTX. As part of the deal, Fracture Labs lent Jump 10 million DIO tokens, worth around $500,000 at the time, and sent another 6 million tokens, valued at $300,000, to HTX.

Fracture Labs further adds that after DIO launched, HTX brought in influencers to hype up the token, which pushed its price up to $0.98, and in turn, inflated the value of the borrowed tokens to $9.8 million.

But then, according to the lawsuit, Jump dumped all its tokens, causing the price to crash down to just $0.005. After the plunge, Jump allegedly bought back the tokens for only $53,000 and returned them to Fracture Labs, effectively ending the agreement.

Fracture Labs argues that this move tanked the token’s value, making it hard for the game developer to reel in investors. 

The suit also claims that Jump Trading breached the agreement by failing to maintain DIO’s price within the limits that Fracture Labs had agreed to with HTX. Jump had promised to help keep the token’s price stable, but it didn’t follow through.

As part of the agreement with HTX, Fracture Labs transferred 1.5 million USDT into a holdings account as a guarantee that they wouldn’t manipulate the market during the first 180 days of trading. But after the price drop, HTX refused to refund most of that deposit.

As such, the lawsuit accuses Jump Trading of fraud, conspiracy, and breach of contract and is seeking a jury trial, damages, and the return of any profits Jump allegedly made from the scheme.

Legal troubles

This isn’t the first time Jump Trading has come under legal scrutiny. Last year, the market maker was implicated in a class-action lawsuit involving the alleged manipulation of Terraform Lab’s stablecoin TerraUSD (UST). 

More recently, The U.S. Commodity Futures Trading Commission launched an investigation into the firm’s investing activities. Just days later, the firm’s former president Kanav Kariya resigned.

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Theo Crypto News

Công nghệ

Settlement giant Euroclear backs blockchain infra startup Marketnode

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Singapore-based blockchain infrastructure startup Marketnode has secured funding from European clearinghouse giant Euroclear to expand services in the Asia-Pacific region.

Marketnode, a blockchain infrastructure startup based in Singapore, has announced a strategic investment from European clearinghouse Euroclear, aimed at expanding its services across the Asia-Pacific region.

In a blog announcement on Oct. 17, the Singapore-based startup, which specializes in blockchain-based financial infrastructure and tokenization asset management, highlighted that the funding aligns with Euroclear’s global funds strategy. While the specific financial details of the investment were not disclosed, the partnership is expected to enhance Euroclear’s one-stop-shop fund offering in the region, the announcement reads.

Marketnode chief executive Rehan Ahmed commenting on the funding said the investment “will catalyze the growth of Marketnode’s platforms,” adding that the firm is looking forward to building the “next generation of financial market infrastructure out of Asia, working together with Euroclear, HSBC, Temasek and our clients to realize our mission and vision.”

Euroclear has previously ventured into blockchain technology, having partnered with the World Bank to launch a tokenized securities issuance service, which included a €100 million digital bond issuance.

Founded by SGX Group and Temasek in 2021, Marketnode serves as Asia-Pacific’s distributed ledger-powered financial market infrastructure. The startup offers a platform that includes issuance, data, workflow, and tokenization capabilities, as well as blockchain-based fund settlement infrastructure. In May, Marketnode closed its Series A investment round led by HSBC alongside contributions from existing shareholder Temasek to scale its platform in an effort to develop a multi-asset ecosystem.

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Theo Crypto News

Công nghệ

Stripe reportedly seeking acquisition of stablecoin payment provider Bridge

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Stripe is reportedly in talks to acquire stablecoin provider Bridge, five months after announcing it will allow U.S. merchants to accept USDC payments again.

Multinational payments firm Stripe is said to be in talks with the Texas-headquartered stablecoin payments hub Bridge to expand its portfolio of crypto offerings.

According to a Bloomberg report, both parties are still engaged in negotiations, with no final decision yet made. As of press time, neither Stripe nor Bridge has made any public comments on the matter.

If the acquisition proceeds, Stripe’s position in the crypto market could be strengthened as it seeks to expand its services. In late April, Stripe President John Collison highlighted the benefits of crypto transactions, emphasizing their “instant settlement” on-chain and automatic conversion to fiat.

In early October, the company in a partnership with stablecoin issuer Paxos launched its “Pay with Crypto” feature, enabling merchants in over 70 countries to accept stablecoin payments that settle as fiat. Additionally, merchants can issue refunds by converting fiat currency back into stablecoins and sending the refund directly to the original payment wallet.

Founded in 2022 by former Square and Coinbase executives Zach Abrams and Sean Yu, Bridge allows its customers not only to accept and send stablecoins, but also settle funds in a made-from-scratch stablecoin, per the firm’s website. In August, Bridge secured $40 million in a round led by Sequoia and Ribbit, bringing the total raised amount to $58 million.

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Theo Crypto News

Công nghệ

What is layer-1 in crypto? What is a layer-1 blockchain?

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Cryptocurrencies are built on blockchain networks. Much like a house is built starting with a solid foundation, a crypto network begins with its layer-1 blockchain. This is the bedrock of the entire system, handling processes like security, transaction processing, and much more.

This article will explain exactly what we mean by layer-1 in terms of cryptocurrency and blockchain technology, from the definition of L1 blockchain to real-world use cases and examples.

What is blockchain?

A blockchain network is a network of computers called nodes which work together to process information. This information is processed one block at a time, and each block is added to a permanent ledger that cannot be edited unless a majority of nodes agree to make a change.

As such, blockchain networks with many nodes can become very secure and difficult to censor or attack. This security and the immutable, unchangeable nature of the network information forms the basis for cryptocurrency networks like Bitcoin.

What is layer-1 blockchain? 

A layer-1 blockchain in crypto is a network where transactions are executed and confirmed directly on the blockchain. 

While layer-2 blockchains exist to augment and take pressure off of layer-1 blockchains, a layer-1 blockchain network is the main network required for a cryptocurrency to function.

Fr example, Bitcoin and Ethereum are layer-1 blockchains and do not need any other blockchain network in order to carry out their operations, such as confirming transactions and minting or creating new units of currency.

Decentralization in L1 blockchains

In cryptocurrency, layer-1 blockchains are often designed to be decentralized, meaning no one authority is controlling the nodes that process the transactions and run the network. 

Entities called miners process transactions in exchange for crypto rewards, and while smaller L1 chains are often centralized, networks like Bitcoin and Ethereum are controlled by competing mining pools that ensure that no central figure is making all the decisions.

This relative decentralization is a major factor in the popularity of layer-1 blockchains, and of cryptocurrency in general.

Their independence allows them to create and improvise their native security protocols and governance hierarchies, which in turn make them more reliable than other types of blockchain layers like Layer-2, Layer-3, and so on. But what key features make layer-1 blockchains so reliable and robust? Let’s find out below.

Key characteristics of layer-1 blockchain 

Layer-1 blockchains offer several features all of which serve a singular purpose in the end, which is to enhance the functionality and autonomy of the entire blockchain ecosystem. Here are some of the most important features: 

1. Freedom

Independence is what makes layer-1 an easy sell for an upcoming cryptocurrency project to build its platform on layer-1 only. By simply creating their governance and security protocols, layer-1 blockchains ensure that their core functions don’t rely on other blockchain layers, which directly ensures a high level of security and decentralization.

2. Native cryptocurrency

Whether it’s staking, governance, or transaction fees, users of layer-1 protocols are not required to buy any other token to do these tasks, rather only the native cryptocurrency is used. This entire process ensures transparency and trust, which adds to the growth of the layer-1 blockchain network.

3. Consensus mechanisms 

With a custom-made consensus algorithm, every layer-1 blockchain ensures network integrity and validates transactions with the highest amount of security protocols. Two major examples of such mechanisms include Bitcoin which uses Proof-of-Work (PoW) and Ethereum which employs Proof of Stake (PoS). With its army of nodes following the consensus algorithm, the entire transaction process becomes transparent and secure.

4. Community-driven governance

Stakeholders play a key part in driving the ecosystem growth in layer-1 blockchains. This means taking part in voting processes that determine key decisions that impact the future of the project directly. Overall this process harmonizes a sense of ownership and promotes decentralization which plays a key role in encouraging new cryptocurrency projects to build in this space.

Other features include scalability, smart contract functionality, and potential for ongoing development. 

List of layer-1 blockchains

There are at least 130 layer-1 blockchains that offer security, and autonomy, along with other key features mentioned above. Here, we will discuss the top three layer-1 blockchains.

1. Bitcoin (BTC)

Launched in 2009 by an anonymous founder known as Satoshi Nakamoto, Bitcoin (BTC) is the father of cryptocurrencies and operates on the Proof-Of-Work (PoW) mechanism. As a layer-1 protocol, Bitcoin provides autonomy by offering robust security features, enabling peer-to-peer transactions without the need for a 3rd party, all of which make it the most trustable blockchain network and currency in the web3 world. 

2. Ethereum (ETH)

Ethereum was the first blockchain that introduced the world of smart contracts in the blockchain space. It opened new gateways of development in the blockchain world, as it became easier for web3 developers to build decentralized applications (dApps) on the Ethereum blockchain. Ethereum also launched the Proof-of-Stake (PoS) model which further enhanced scalability while at the same time reducing energy consumption by a wide margin. 

3. Binance Smart Chain (BSC)

Binance Smart Chain serves two key features, one is to maintain low transaction costs and the other is to be at high performance at all times. This layer-1 blockchain has positioned itself in the world of DeFi as well due to its user-friendly operating system and fast transaction speeds, which makes it ideal for the average user as well as new development projects that want to build on this layer-1 blockchain. 

The future of layer-1 blockchains

There’s no doubt that layer-1 blockchains play a critical role in the world of decentralized technologies. From running decentralized apps, and executing transactions on stand-alone blockchain infrastructure, to smart contracts, layer-1 blockchains act as a foundational platform in the blockchain world. However, we can’t deny the fact that these networks still face challenges, especially when transaction volumes and/or user adoption increases with time. 

To overcome these challenges many of these layer-1 blockchains have started experimenting and doing research on improving their architectural designs and consensus algorithms.

For example, some blockchains have added mechanisms of Proof-of-Stake (POS) and sharding, to lower transaction fees, and reduce latency, however, despite these critical innovations layer-1 blockchains such as Bitcoin and Ethereum are still moving towards layer-2 blockchains which offer a wider range of solutions to the challenges poised in the blockchain world.

In the future, we can expect more evolution from layer-1 protocols as they adapt to new ecosystems, become more interoperable, and become a combination of intrinsic improvements, thanks to layer-2 and layer-3 blockchain technologies. 

FAQs

How many layer-1 blockchains are there?

There are currently over 100 L1 blockchains operating in the industry today, and that number is growing.

Which is the best layer-1 blockchain?

It’s hard to say which is the best layer-1 blockchain, but the biggest ones by volume include Bitcoin, Ethereum, Solana, and others.

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Theo Crypto News

Công nghệ

Whales pile into ENA as token rallies over 96% in 30 days

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ENA has risen as the top performer in the last 7 days driven largely by key developments within its ecosystem and heightened whale activity.

Over the past month, Ethena (ENA) has surged by 96.6%, driving its market capitalization from $420 million in mid-September to $1.14 billion. Most of these gains occurred in the last 7 days, with ENA seeing a 45.1% rise during that period.

Central to ENA’s price rally has been the ongoing expansion of the Ethena ecosystem. Ethena Labs recently passed a pivotal proposal to integrate Ethereal, a decentralized exchange built on the USDe stablecoin, into its reserve management system.

The integration is expected to enhance liquidity and utility for ENA tokens within the Ethena ecosystem, making it a more attractive asset for both users and investors.

In addition, Ethena developers announced last week their intention to invest $46 million of the reserve fund into tokenized assets, further diversifying their financial strategy. The project has also secured backing from major players like BlackRock and Securitize for its new stablecoin, UStb, bolstering confidence in its ecosystem.

Spike in whale activity

Large holders netflow over last 7 days | Source: IntoTheBlock

Whale activity has played a major role in ENA’s recent price action. According to data from IntoTheBlock, large holders of ENA accumulated 5.4 million tokens — worth $2.3 billion — on Oct. 15, a sharp increase from $1.18 billion in outflows seen on Oct. 9. Whale buying often signals market confidence or accumulation, potentially driving prices upward and boosting investor sentiment.

Furthermore, Smart Dex traders, which are basically wallets known for consistently executing profitable swaps on decentralized exchanges, acquired 1.34 million ENA tokens over the past week, valued at $506,100 at an average price of $0.32 per token.

Price performance and future outlook

On Tuesday, ENA hit a two-month high of $0.455, following a 45.1% gain over the past seven days. However, the token has since pulled back slightly, trading at $0.4179, down 7.5% over the past 24 hours. This dip is likely due to some profit-taking by long-term holders after ENA’s rapid ascent, a common occurrence following a highly bullish day.

Despite this short-term correction, analysts remain optimistic about ENA’s price trajectory.

According to ‘World of Charts,’ ENA has broken out of a broadening falling wedge pattern, a classic signal of a bullish reversal. The analyst expects the token to rally another 150% in the near term.

Similarly, another analyst, Altcoin Sherpa, forecasts that ENA could reach $0.50 in the short term, provided Bitcoin (BTC) remains stable. If the broader market conditions continue to be favorable, ENA may see further gains before encountering any significant pullback.

The substantial growth in ENA’s price has led to a rise in the number of token holders in profit, with ITB data pointing to over 21% of active ENA holders recording gains, a sharp rise from just 5.7% on Oct. 8. This improved profitability could further encourage retail and institutional investors to hold ENA, anticipating further price appreciation.

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Công nghệ

Cosmos Hub’s Liquid Staking Module under scrutiny following DPRK ties

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Concerns over the security of Cosmos Hub’s Liquid Staking Module have intensified following revelations that North Korean agents allegedly played a key role in its development.

Blockchain development firm All in Bits has issued a stark warning to the Cosmos community regarding the integrity of its Liquidity Staking Module, a solution that allowed for (ATOM) staked with validators to convert into liquid staked ATOM tokens.

In an X post on Oct. 16, All in Bits warned that contributions from developers allegedly linked to North Korea were made at the very beginning of the LSM’s development, raising alarms about potential vulnerabilities embedded in the system.

A timeline of events highlights critical oversights during the LSM’s development. In July 2022, an audit by Oak Security identified severe vulnerabilities, including mechanisms allowing stakers to evade slashing penalties. Alarmingly, the same North Korean developers were tasked with addressing these issues, All in Bits added, arguing compromised the integrity of the remediation process.

A year later, the FBI warned Zaki Manian, a lead figure in the LSM’s development, about DPRK’s involvement, All in Bits said, adding that “despite notification from FBI, Zaki promotes LSM as ‘finished’ and without disclosure to the Cosmos Hub community and pushes the LSM Signaling Proposal on chain.”

“This breach undermines Cosmos Hub’s security and integrity. AtomOne remains committed to these principles.”

All in Bits

Analysts at the blockchain development firm called for immediate action from the Cosmos governance community, including a comprehensive audit of the LSM and the establishment of stricter security protocols for future code contributions.

The heightened scrutiny of the LSM comes against a backdrop of increasing alerts from the FBI regarding North Korean hackers aggressively targeting employees in the crypto and decentralized finance sectors. Per the bureau, cybercriminals utilize sophisticated social engineering tactics designed to deceive even the most technically proficient individuals, emphasizing the critical need for robust security measures in the blockchain space.

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DeFi

Litecoin rallies 11% amid spot ETF application and improving market sentiment

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Litecoin surged to its two-month highs following the news of a spot Litecoin ETF filing with the U.S. Securities and Exchange Commission.

Litecoin (LTC) rose 7.2% over the last day, exchanging hands at $71.52 on Wednesday, Oct. 16, its highest price seen since the end of July.

LTC 24-hour price chart – Oct. 16 | Source: crypto.news

This recent rally reflects a 15% increase from its monthly low, with Litecoin’s market capitalization growing from $4.6 billion on Oct. 3 to over $5.36 billion at the time of writing.

The upward momentum has also been mirrored in the futures market, where open interest for LTC futures contracts reached a multi-month high of $170 million. This rise in open interest indicates strong investor demand and heightened engagement with the asset.

ETF filing fuels Litecoin rally

The primary catalyst behind Litecoin’s surge is the announcement that Canary Capital, a crypto-focused investment firm, has filed an application with the SEC for a spot Litecoin exchange-traded fund. If approved, this ETF would grant both retail and institutional investors direct exposure to Litecoin, making it easier for them to invest in the cryptocurrency without the need to hold the asset directly.

Since the announcement, the token surged over 9% to hit a two-month high of $72.79.

In addition to the ETF news, broader market sentiment has played a role in Litecoin’s price rally.

The crypto fear and greed index, a widely followed indicator of market sentiment, has moved from a fear level of 38 last week to a greed reading of 77. This shift reflects an improving outlook for the crypto market overall, which is further supported by Bitcoin’s (BTC) recent ascent above $67,000, which also brought in gains for other altcoins like Ethereum (ETH) and Solana (SOL).

Historically, altcoins like Litecoin tend to perform well during periods of heightened optimism and rising market confidence in Bitcoin. Community sentiment around Litecoin was notably positive per CoinMarketCap data, while traders on X portrayed a similar outlook.

According to analyst ZAYK Charts, LTC has broken out of a descending channel on the 1-day chart, a pattern that typically signals a bullish reversal. ZAYK now expects the token to climb to $100 in the short term, representing a 28.5% upside from its current price.

One pseudonymous trader revealed that they have accumulated 0.1% of Litecoin’s total supply as part of a long-term investment strategy. This investor pointed to Litecoin’s durability and cited the Lindy Effect—the theory that the longer an asset has survived, the more likely it is to persist—as a rationale for their confidence. They also believe that once the current “meme-coin” bubble bursts, capital will flow back to established cryptocurrencies like Litecoin, which have stood the test of time.

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Công nghệ

Blockcast raises $2.85m to scale decentralized content delivery on Solana

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Solana-based content delivery network Blockcast has raised over $2.8 million in seed funding led by Lattice Fund to scale its decentralized infrastructure for high-bandwidth content streaming.

According to a press release shared with crypto.news, Blockcast raised $2.85 million in its seed funding round with participation from prominent investors such as Lattice Fund, Protocol Labs, Finality Capital Partners, AllianceDAO, Zee Prime Capital, RW3 Ventures, and angel investors including Anatoly Yakovenko, the founder of Solana.

Blockcast is a decentralized content delivery network built on Solana, aiming to address the growing strain on internet infrastructure. The platform combines traditional broadcasting technology with blockchain to manage the increasing demand for high-bandwidth content such as live streams, software updates, and media releases.

With internet traffic surging by 24% annually and live streaming now accounting for 17% of all global traffic, Blockcast aims to offer a more efficient solution for content delivery.

By utilizing community-operated nodes, Blockcast allows for faster and more cost-effective content distribution. This approach reduces data consumption, minimizes rebuffering and latency, and alleviates congestion for internet service providers, the release noted. 

The goal is to streamline the process of deploying scalable traffic servers closer to users, offering a more sustainable and decentralized way to manage global content demand.

Mike Zajko, Partner at Lattice Fund, noted that the internet’s infrastructure is struggling to meet the rising demand for high-quality content. He highlighted Blockcast’s use of “community-operated nodes” as a practical solution to reshape “how data is distributed and consumed.”

Blockcast plans to use the capital to accelerate the development of its platform, expand its presence in the networked infrastructure ecosystem, and launch its pre-order campaign for home RELAY nodes, which are compact servers designed to improve streaming quality while allowing users to participate in content delivery and earn rewards.

Speaking to crypto.news, Blockcast CEO Omar Ramadan explained that the funding will also go toward “building out global content delivery capacity” and launching “a public testnet for the world’s first decentralized multicast-enabled CDN,” aligning with Blockcast’s mission to revolutionize content distribution.

The funding round comes as venture capital interest in the blockchain and fintech sectors has steadily dropped since April 2024. Despite the waning interest, new entrants continue to emerge, with global investment firm VanEck recently announcing the launch of VanEck Ventures, a $30 million fund focused on fintech, digital assets, and AI.

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