Cryptocurrency Market Size, Growth & Trends Report, 2030 - cyptoranking.com

2024-05-04

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FXS / Tether IS 1D (Source: TradingView) Ethereum will maintain its position at the top for the foreseeable future – thanks to the distance between the pioneer and its successor. Cryptocurrency Market Size, Growth & Trends Report, 2030Snap | Source: X(Formerly Twitter) In case a bearish breakout occurs, the $26K area would be the first likely target, followed by the $25K zone, which can be considered as the buyers’ last resort. Therefore, things are not looking good for BTC at the moment, and there could be a crash on the horizon.

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“If this protocol had a small on-chain footprint and encouraged responsible UTXO management, it might serve as harm reduction compared to existing protocols,” Rodarmor added.UTXOs represent the amount of cryptocurrency left in a wallet following a completed transaction, where the balance is used in subsequent transactions and is stored in the UTXO database.Bitcoin’s UTXO model plays a role in making Bitcoin an auditable and transparent ledger by preventing the double-spending problem.Rodarmor said other fungible token protocols on Bitcoin, such as Really Good for Bitcoin, Counterparty and Omni Layer, have problems of their own.Rodarmor’s problems with existing fungible token protocols on Bitcoin: Source: Casey RodarmorWhile Rodarmor admitted 99.9% of fungible tokens are filled with scams and memes, he believes the right fungible token protocol can add value to the Bitcoin network:“Creating a good fungible token protocol for Bitcoin might bring significant transaction fee revenue, developer mindshare, and users to Bitcoin.”Related: Ordinals still make up majority of Bitcoin txs despite price collapse In a Sept. 25 Twitter Spaces with The Ordinals Show co-host Trevor Owens, Rodarmor said he came up with the Runes idea last week and that he wasn’t sure whether he would pursue it any further.Shortly after the call, Owens floated offering $100,000 from the Bitcoin Frontier Fund to prospective developers who can get a Rune application up and running as a means to further Rodarmor’s proposal.Open $100k investment offer in upcoming @BTCFrontierFund accelerator for first team who can get a working (not terrible) Rune indexer, issuance and/or transfer app, up live and runningDon't make the tickers required to be unique, will be a shit showDM me. Serious offer. pic.twitter.com/6W0IwlhB9x— trevor.btc (@TO) September 26, 2023 *This is not investment advice.ETH Drops To One-Month Low: What's Ahead For Ethereum? Flash News: OKX Shark Fin Debuts New Weekly Listing, Adds FIL, DOT and ARB to Dual InvestmentMeta is betting big that deep integration of AI into software and hardware will enable more immersive social experiences through extended reality platforms. "AI is shaping the way we build the metaverse," said Meta CTO Andrew Bosworth during the company's Meta Connect conference yesterday. In recent months, Bitmain has been active on the business front. On Sept. 22, bankrupt Bitcoin miner Core Scientific announced plans to purchase 27,000 Bitmain servers for a sum of $77 million.

Source: AdobeStock / REDPIXELDecentralized social network Friend.tech has generated over $1 million in fees within just 24 hours of its release, outperforming well-established players like Uniswap and the Bitcoin (BTC) network.According to data from crypto data aggregator DefiLlama, Friend.tech has generated $1.12 million in fees within a single day, and a total of $2.8 million since its inception. As of now, the platform has accumulated $818,620 in total project revenue, facilitating over 650,000 transactions on the social platform with more than 60,000 distinct traders. The driving force behind this project is believed to be a developer operating under the pseudonym Racer. Racer has previously designed social media networks such as TweetDAO and Stealcam, both of which were based on non-fungible tokens (NFTs). With Friend.tech, Racer aims to attract crypto influencers with substantial fan bases, providing them the opportunity to earn royalties from trading fees. Additionally, the platform is also seeking to strengthen relationships between Web3 projects, venture capitalists, and important figures in the crypto industry.Launched as a beta version on August 11, Friend.tech allows users to tokenize their social networks by purchasing and selling "shares" of their connections. This feature enables individuals who acquire someone else's share to communicate privately with each other. Friend.tech applies a 5% fee on transactions, with the owner profiting from the trade spread. The project is built on Coinbase's layer-2 network Base.Friend.tech's Huge Success Sparks ConcernsThe massive success of Friend.tech has sparked discussions about its revenue model, risks, and future potential. Ignas, a pseudonymous DeFi researcher, has pointed out that the platform's current business model relies solely on trading fees and does not consider the number of shareholders involved. Additionally, he raised concerns that controversial personalities might exploit the system to earn higher fees or even use fear, uncertainty, and doubt (FUD) as a strategy. "So controversial personalities might earn more or even creating FUD will be used as a strategy to earn fees," the user said. Lux Moreau, the founder of Talk.Markets, also emphasized that the increasing prices of shares may lead to the formation of smaller groups or alternative group creations within the platform."As shares get sold, the prices also significantly increase. For example, the 500th member pays around 15.6Ξ, the 250th member pays 3.9Ξ, and the 100th member pays 0.625Ξ," the crypto veteran said in a tweet last week. More worryingly, Twitter user Spot On Chain has noted that Friend.Tech’s API can be used to extract sensitive data from the platform, like showing the wallets created by the users. Soon after the tweet, a core developer for Yearn Finance, published a list of 101,000+ users with their wallet address and Twitter username. Additionally, the developer claims that every user on the platform had (unknowingly) given Friends.Tech permission to post on their behalf on Twitter.DeFi Lender Exactly Protocol Exploited For $12 Million Rebecca Stevens, an analyst at The Block Research, noted a distinct correlation between Ordinals inscriptions and Bitcoin transactions, as users must initiate a transaction to link metadata to a satoshi. The transactions likely dropped due to a decline in Ordinals inscription activity, data aggregated on Dune suggests. Exchange custody of assetsCompleteness: It is stated that if the input is valid, the zero-knowledge protocol will always return as “true.” On-chain Analysis

While security and reliability are always top priorities, forward-looking blockchain projects must take both project-specific details and evolving trends into consideration before making a final decision. Below, nine members of Cointelegraph Innovation Circle discuss factors a blockchain project should consider when choosing a consensus mechanism and why they can play a role in long-term success. Regulatory Authority How to buy Bitcoin in Brazil-Simple Guide 2023-GoInvestThat bond was designed for regulated tokenized offerings and was also made available on the Six Swiss exchange.BlockFi to move forward with Chapter 11 plan While the customer managed to evade the scammer’s attempt, the incident underscores the importance of remaining vigilant and cautious in the face of increasingly sophisticated phishing and scam attempts.

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