Can decentralized exchanges be tracked? - cyptoranking.com

2024-05-07

Popular crypto exchanges(2023 Update) 2024-05-07
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LasMeta offers play to earn, listen to earn, and watch to earn, rewarding players with LasMeta Tokens ($LASM) for their involvement. Its innovative governance structure, utility features, and in-game money make LasMeta free to play. “Zero-knowledge technology roots its security in mathematics, whereas confidential computing relies on specific security features of hardware,” Fan said, adding that he believes confidential computing is “much more efficient” than zk proofs. Can decentralized exchanges be tracked?Source: MoonPayCrypto payments infrastructure firm MoonPay has unveiled a new feature in its app that enables users to swap one cryptocurrency for another. "Introducing Swaps! Unlock the value from the assets you already own by swapping over 1,500 trading pairs," the company said in a recent post on X (formerly Twitter).The new feature expands the functionality of MoonPay's retail-facing crypto app, which was launched in May and initially allowed users to purchase cryptocurrencies and manage multiple wallets within the app.MoonPay claimed that the swapping feature has been optimized to enhance efficiency.Instead of relying on smart contracts, which can be costly due to their complex operations, MoonPay executes the swaps through two sends: one for receiving the deposit and another for sending the quoted amount. This approach reduces the gas required for the swap, making the process more streamlined and cost-effective, as explained by Ivan Soto-Wright, co-founder and CEO of MoonPay.With a claimed customer base of 16 million users worldwide, MoonPay has been expanding its business beyond its core payments infrastructure model. Alongside the app and non-fungible tokens (NFTs), MoonPay launched a venture capital unit in August, aimed at investing in early-stage web3 and fintech startups. Additionally, MoonPay made its first acquisition earlier this year, acquiring the web3 creative agency Nightshift to assist brands in offering web3 features.MoonPay Gathered Attention After Raising $555 MillionThe company garnered significant attention and investor support in late 2021 when it raised $555 million in a Series A funding round led by Tiger Global Management and Coatue, resulting in a valuation of $3.4 billion. Reportedly, as part of this funding round, Soto-Wright and other MoonPay executives cashed out $150 million by selling their shares. Shortly after the funding announcement, Soto-Wright acquired a $38 million mansion in Miami.However, MoonPay has faced legal challenges in the past. In December 2022, the company was hit with a class action lawsuit alleging its involvement in a conspiracy with Bored Ape NFTs creator Yuga Labs and several celebrities to artificially inflate the value of NFTs. Additionally, in June 2023, it was claimed that MoonPay gifted valuable Bored Apes NFTs to celebrities as a promotional strategy. MoonPay denied the allegations of providing celebrities with free Bored Apes but did not provide further details.MoonPay's new addition comes as payment giants continue to expand their suite of crypto products and services. Back in August, PayPal announced that it is rolling out its PYUSD stablecoin soon. The dollar-pegged asset is issued by Paxos, a blockchain infrastructure firm that used to issue Binance USD (BUSD) stablecoin.Last month, Coinbase also received regulatory approval to offer perpetual futures trading services to retail customers outside the United States. Hamas Received $41 Million in Crypto in Lead Up to Attack on Israel Bitcoin’s volatility has increased over the past few days. The price soared on Aug. 29 after Grayscale scored a victory over the United States Securities and Exchange Commission (SEC). However, the euphoria was short-lived, as the price gave back all the recent gains on the news that the SEC delayed the decision on all seven spot Bitcoin (BTC) exchange-traded fund (ETF) applications. News related to Bitcoin ETFs has been the major trigger for the markets in the past few days. Bloomberg ETF analysts remain upbeat over the possibility of the ETFs being approved by the regulator in 2023. In an Aug. 30 post on X (formerly Twitter), Bloomberg senior ETF analyst Eric Balchunas bumped up the approval possibility of a spot Bitcoin ETF from 65% to 75%.Daily cryptocurrency market performance. Source: Coin360In the near term, the bulls face an uphill battle, as September has traditionally favored the bears. According to CoinGlass data, Bitcoin has seen negative returns in September for the past six years. Will the trend continue in 2023?The weakness in Bitcoin is affecting several major altcoins, which have dropped close to their strong support levels. Will the decline extend further, or is it time for a bounce to happen? Let’s study the charts of the top 10 cryptocurrencies to find out.Bitcoin price analysisThe bulls failed to defend the 20-day exponential moving average (EMA) of $26,947 on Aug. 31. That started a sell-off, which pulled Bitcoin below the breakout level of $26,833.BTC/USDT daily chart. Source: TradingViewThe price action of the past few days shows that the BTC/USDT pair has been oscillating inside the large range between $24,800 and $31,000. Typically, traders buy the dips to the support of the range and sell near the resistance. The same is expected from the bulls at $24,800.If bears want to seize control, they will have to sink and sustain the price below $24,800. If that happens, the pair may extend the fall to $19,500. There is a minor support at $24,000, but that may not hold for long.Ether price analysisEther’s (ETH) rebound off the strong support at $1,626 fizzled out at $1,745 on Aug. 29. This indicates that bears remain active at higher levels.ETH/USDT daily chart. Source: TradingViewThe bears will try to build upon their advantage by pulling the price below the $1,626 to $1,550 support zone. If they are successful, it will signal the start of a new downtrend. The ETH/USDT pair could then nosedive to the next formidable support at $1,368.Alternatively, if the price sharply rebounds off the current level, it will indicate that the bulls are fiercely defending the support. That could drive the price to the 20-day EMA ($1,702) and subsequently to $1,745, which may act as a resistance. BNB price analysisBNB’s (BNB) recovery halted at the 50-day simple moving average (SMA) of $234 on Aug. 29, and the bears yanked the price below the important support at $220 on Aug. 31.BNB/USDT daily chart. Source: TradingViewThe moving averages are sloping down and the relative strength index (RSI) is in the negative territory, indicating that bears have the upper hand. The bears will try to sink the price to the psychological support at $200. If this level collapses, the BNB/USDT pair could reach the next major support at $183.If bulls want to start a relief rally, they will have to push the price back above the 20-day EMA ($222). The pair could then climb to the 50-day SMA and later to the resistance line.XRP price analysisThe long tail on XRP’s (XRP) Aug. 31 candlestick shows that the bulls are trying to protect the support at $0.50. However, the price action on Sep. 1 shows that the bears are keeping up the pressure.XRP/USDT daily chart. Source: TradingViewIf the price plunges below $0.50, it will suggest that bears are back in control. That could start a downward move to the formidable support at $0.41. The bulls are likely to defend this level with vigor. A bounce off the support could keep the XRP/USDT pair range-bound between $0.41 and $0.56 for some more time.If the price rebounds off $0.50, it will suggest that the pair may attempt a rally to $0.56. The bulls will have to overcome this roadblock to start a new up move to $0.63 and thereafter to $0.73. Cardano price analysisCardano (ADA) has been range-bound between $0.24 and $0.28 for the past several days. The bulls kicked the price above the range on Aug. 29 but could not sustain the higher levels.ADA/USDT daily chart. Source: TradingViewThat may have tempted the short-term bulls to bail out of their positions. The selling picked up further, and the price slipped below the uptrend line on Aug. 31. The bears will next try to sink the ADA/USDT pair below the vital support at $0.24.If the price rebounds off $0.24, the pair may continue to consolidate inside the range for a while longer. On the contrary, if the price dips below $0.24, it will signal the start of a down move to $0.22 and eventually to $0.20.Dogecoin price analysisThe bulls are struggling to start a recovery in Dogecoin (DOGE), indicating that demand dries up at higher levels. DOGE/USDT daily chart. Source: TradingViewThe DOGE/USDT pair could dip to the solid support at $0.06. Buyers are expected to defend this level with all their might because a break below it may resume the downtrend. The pair could first skid to $0.055 and then to the final support near $0.05.On the contrary, if the price rebounds off $0.06, it will signal that the bulls are buying the dips to this level. The bulls will then again try to overcome the obstacle at the 20-day EMA. If they succeed, the pair may surge to $0.08.Solana price analysisSolana (SOL) returned from the 20-day EMA ($21.37) on Aug. 30, which shows that bears remain in command. The price has reached the vital support at $19.35. SOL/USDT daily chart. Source: TradingViewThe 20-day EMA is sloping down and the RSI is in the negative zone, indicating that the path of least resistance is to the downside. If the $19.35 support gives way, the selling could intensify and the SOL/USDT pair may slide to $18.Time is running out for the bulls. If they want to start a recovery, they will have to quickly shove the price above the overhead resistance at $22.30. If they do that, the pair may soar toward $26. The 50-day SMA ($23.42) may act as a hurdle, but it is likely to be crossed.Related: Bitcoin lines up RSI showdown as BTC price slips toward new 2-week lowToncoin price analysisToncoin (TON) is in a strong uptrend. The bears tried to stall the rally near $1.77, but the bulls did not give up much ground. That shows that the bulls are in no hurry to book profits.TON/USDT daily chart. Source: TradingViewBuying resumed on Sep. 1, and the TON/USDT pair reached the pattern target of $1.91. If buyers scale this level, the upmove may continue and the pair may skyrocket to $2.38. This level may witness profit-booking by the traders.This bullish view will be invalidated if the price turns down and breaks below $1.66. Such a move will suggest aggressive selling at higher levels. That could then sink the pair to the breakout level of $1.53.Polkadot price analysisPolkadot (DOT) turned down from the 20-day EMA ($4.56) on Aug. 30, indicating that the sentiment remains negative and traders are selling on rallies.DOT/USDT daily chart. Source: TradingViewThe selling picked up further on Aug. 31, and the DOT/USDT pair dropped to the vital support at $4.22. This level is likely to witness a battle between the bulls and the bears. If the price plummets below $4.22, the pair could start the next leg of the downtrend to $4.Buyers have their task cut out. If they want to make a comeback, they will have to quickly drive and sustain the price above the 20-day EMA. If they manage to do that, the pair could surge to the overhead resistance at $5.Polygon price analysisPolygon’s (MATIC) failure to maintain above the 20-day EMA ($0.58) on Aug. 29 may have attracted profit-booking from short-term traders. The bulls tried to push the price back above the 20-day EMA on Aug. 30 and 31, but the bears held their ground.MATIC/USDT daily chart. Source: TradingViewThe bears will try to strengthen their position by pulling the price below the immediate support at $0.53. If they can pull it off, the MATIC/USDT pair may slump to the crucial support at $0.51.If the price turns up from the current level, it is likely to face selling at the 20-day EMA and again at the 50-day SMA ($0.66). On the other hand, a break below $0.51 could resume the downtrend. The next support is at $0.45.This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

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How to generate a reasonable long-term return on investment for token holders? CBN Director of Corporate Communications, Dr. Isa Abdulmumin, added that there is a lack of understanding of CBDC behind the news on the eNaira as a potential threat to the nation’s financial stability. MetaMask Integrates With Coinbase Pay For A New Way ...Yet, it’s not all bleak. Cowen remains measured, as he acknowledges the change the nature of “The Merge” brought on Ethereum’s ecosystem, believing it is a “game changer.” While Cowen wasn’t overly optimistic, the analyst refrained from forecasting ETH’s next moves, primarily due to the unpredictable ripple effects of The Merge. This cautious perspective likely stems from the protracted duration of the decline, which has persisted since April 2023. Market participants are eagerly anticipating indicators of a turnaround or resurgence in the QNT market, as suggested by technical measures and fluctuations in trading volume.

The integration of cryptocurrencies and blockchain technology has had a profound and positive impact on the iGaming industry. This transformation has not only enhanced security, privacy, and transparency but has also ushered in a new era of fairness in gaming. Best known for predicting the 1987 stock market crash and profiting from it, Jones said that the Israel-Hamas war has created a “challenging” geopolitical environment. This, in turn, could create a significant risk-off environment that has the potential to drastically change the market landscape in the U.S. Polkadot-Based Derivatives Exchange Raises $6.4M at $50M ValuationYyctrader’s mistake was opening the malicious link in the same browser as his Friend.tech wallet. Institutional investors, particularly those in the wealth management segment, still face barriers to accessing bitcoin, said Alex Thorn, head of research at Galaxy Digital.

While Ethereum’s long-term prospects remain promising, given its historical performance and the myriad of real-world applications it supports, the recent actions of whales, coupled with some concerning technical indicators, suggest that investors should proceed with caution. Ethereum transitioned from a Proof-of-Work (PoW) to a Proof-of-Stake (PoS) mechanism in an event christened “The Merge.” The transformation came as the network wanted to achieve more security, cut down on energy consumption by 99.95%, and execute new scaling solutions with a possible threshold of 100,000 transactions per second. With PoS, there are less entry barriers for miners considering the reduced energy demands. How to buy ETHSource: a video screenshot, ETHWORLD / YouTubeEthereum (ETH) co-founder Vitalik Buterin has recently shared his thoughts on potential changes to Ethereum's staking system.In a recent blog post, Buterin discussed various protocols, including ERC-4337, ZK-EVMs, private mempools, code precompiles, and liquid staking, and explored the trade-offs associated with incorporating them into Ethereum's code.The Ethereum mastermind said the goal behind the article was to "start to build toward a framework for better identifying possible targets where enshrining certain features in the protocol might be worth considering."Buterin expressed a stronger inclination towards incorporating certain protocols into Ethereum's code, such as ERC-4337, while being more cautious about others, like private mempools. ERC-4337 is a token standard co-authored by Buterin, Kristof Gazso, Dror Tirosh, Tjaden Hess, Yoav Weiss and Shahaf Nacson that introduces account abstraction without changes to the underlying Ethereum protocol.Meanwhile, private mempols, or "encrypted mempools," keep users' transactions encrypted until the moment they get irreversibly accepted into a block.He acknowledged that each of these protocols present complex trade-offs that will continue to evolve over time.Buterin Expresses Concern About Staking ConcentrationOne specific concern that Buterin mentioned was the concentration of power among Ethereum's liquid staking providers. Lido, a prominent liquid staking pool, currently controls over 32% of the staked ether on Ethereum, with holdings distributed across different validators. Alongside Rocket Pool, Lido is a significant player in the ecosystem, but Buterin highlighted the need for more robust safety mechanisms.Buterin proposed exploring additional solutions to enhance the safety and decentralization of liquid staking. Rather than relying solely on moralistic pressure to encourage stakeholders to diversify their choice of staking providers, he suggested tweaking the Ethereum protocol itself. This could involve refining RocketPool's existing approach or granting enhanced governance rights to a randomly sampled committee of small stakeholders. These measures could contribute to a more decentralized and resilient Ethereum ecosystem.As reported, several prominent liquid staking providers have implemented or are in the process of implementing a self-limit rule in an effort to maintain the decentralized nature of Ethereum.The rule ensures that these providers will not own more than 22% of the Ethereum staking market, which could help address concerns over the growing centralization of Ethereum staking.Rocket Pool, StakeWise, Stader Labs, Diva Staking, and Puffer Finance are some of the staking platforms that have already committed to the self-limit rule.However, Lido Finance has decided not to commit to the self-limit rule.Back in June, the project put forward a proposal to impose a limit on Lido’s maximum stake.Less than one half of one percent of the votes cast were in favor of the self-limit rule, while those holding more than 99% of Lido’s governance tokens, LDO, voted for the protocol to not hold back on its growth.Coinbase, the second-largest staking provider, holds only an 8.7% market share, according to data from Dune Analytics.Protocol Guild In For Big Pay Day From Ether ETF Additionally, finality is how decentralized applications (DApps) make sure their activities are safe and trustworthy. Finality ensures that decisions and transactions made within these applications are unchangeable and irreversible. Moreover, the blockchain develops trust among the network’s users and members by making transactions final. Users’ trust in the system is increased by knowing that transactions are irreversible.

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