Altcoins
Crypto Expert Spotlights Top 2 Altcoins For Web 3.0
Published
2 months agoon
By
adminCrypto analyst Michaël van de Poppe recently cast a spotlight on two altcoins poised to significantly impact the Web 3.0 ecosystem. In a detailed exposition shared on X (formerly Twitter), Van de Poppe introduced “modular blockchains” and “DePin” as emerging concepts set to redefine the crypto landscape.
Emphasizing the need for tangible use cases, Van de Poppe stated, “I’m advocating for investing into projects that fulfill actual use cases. Hence why I’m not that much focused on projects within the Gaming, Metaverse, NFT or Meme space, […] I’d rather want to focus on projects that have an actual use case within the financial Web 3.0 ecosystem.”
Crypto + Web 3.0: Modular Blockchains
The conversation around scalability and efficiency in blockchain has led to the emergence of modular blockchains, according to Van de Poppe. He described modular blockchains as “a solution from the previous cycle,” aiming to address the high transaction fees and scalability challenges that have hampered platforms like Ethereum.
“Remember the high gas fees we were paying during the bull run on Ethereum? Yes, that’s where Layer 2’s and modular blockchains started to come from as a potential solution for this problem,” Van de Poppe explained. By splitting traditional processes handled by a single layer, modular blockchains promise a substantial improvement in transactions per second, addressing the core scalability trilemma of decentralization, scalability, and security without compromising on any.
Spotlight On TIA And CQT
Among the projects leading the charge in this new era, Celestia (TIA) and Covalent (CQT) emerged as favorites of Van de Poppe.
TIA, according to Van de Poppe, stands out as a frontrunner in the modular blockchain space. “One of my favorites is TIA, which enhances the potential of modular blockchains,” Van de Poppe states, underscoring the project’s ambition to redefine scalability and efficiency in blockchain technology.
Covalent, in particular, is praised for its comprehensive toolkits for developers, which include Block Explorer Kits named GoldRush and analytics dashboards like Increment. “Covalent aims to build on the DePIN ecosystem, which means decentralized physical infrastructure networks, essentially laying the foundational layer of the entire financial Web 3.0 Ecosystem,” Van de Poppe remarked.
Delving deeper into Covalent’s contributions, Van de Poppe highlighted the project’s ambition to secure a structured dataset from over 215 blockchains and integrate AI through the analysis of 100 billion transactions. This integration is aimed at fostering AI consumption, training, and product development.
“Promoting decentralized indexing, Covalent enhances network resilience and reduces reliance on central entities,” he noted, underscoring the project’s commitment to decentralization. Furthermore, the activation of a Revenue Fee Switch connected to the Premium API since February signifies Covalent’s economic model’s maturity and its efforts to achieve complete Ethereum Virtual Machine (EVM) state data retrievability.
Price Analyses
The CQT price rose above the 20- and 100-week EMA in mid-February, generating bullish momentum. The price is now targeting the 0.236 Fibonacci retracement level at $0.53 on the 1-week chart. However, it is worth noting that the price is still around 80% away from its all-time high despite the bullish sentiment in the crypto market.
For Celestia (TIA), the situation looks quite different. The price is only 20% below its all-time high and is trading above the 0.236 Fibonacci retracement level on the 1-day chart.
Featured image from Shutterstock, chart from TradingView.com
Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.
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Altcoins
Ethereum-Based Altcoin Leads Real-World Assets Sector in Development Activity, According to Santiment
Published
18 hours agoon
May 9, 2024By
adminBlockchain analytics platform Santiment says one Ethereum (ETH)-based altcoin project is leading in the real-world asset (RWA) sector based on development activity.
Santiment says that blockchain oracle Chainlink (LINK) is seeing the greatest amount of daily activity on the development hosting platform GitHub.
LINK Is seeing more than two times the amount of development activity compared to the second most active blockchain project, Synthetix (SNX), a decentralized finance (DeFi) crypto that allows synthetic asset creation on Ethereum.
“Here are crypto’s top real-world assets by development. This list is compiled by counting any non-redundant GitHub activity, and averaging this daily activity over the past 30 days. Chainlink currently produces 2.49x more daily activity than the next most active project, Synthetix, in the RWA sector.”
Santiment’s ranking list is as follows: 1. Chainlink 2. Synthetix.io 3. Centrifuge (CFG) 4. Dusk (DUSK) 5. Oraichain (ORAI) 6. Creditcoin (CTC) 7. IX Swap (IXS) 8. Maker (MKR) 9. Polymesh Network (POLYX) 10. Reserve Rights (RSR).
Santiment also says that the native asset of decentralized oracle protocol Tellor (TRB) is outperforming most other digital assets so far this month.
“Tellor is one of the top performing assets thus far in May, exactly doubling in market cap since the calendar month turned. Whale transactions and address activity have both seen sudden spikes, which are suggesting potential TRB profit takes.”
Tellor is trading for $111.64 at time of writing, up 16% in the last 24 hours.
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Altcoins
Hackers With $182,000,000 Stolen From Poloniex Starts Moving Funds to Tornado Cash
Published
1 day agoon
May 8, 2024By
adminThe hacker who looted the crypto exchange Poloniex has started moving Ethereum (ETH) to the mixing service Tornado Cash, according to the digital asset de-anonymizing platform Arkham.
Arkham notes the hacker moved 1126.1 ETH worth more than $3.4 million into Tornado Cash across a series of 20 transactions on Monday and Tuesday.
They represent the exploiter’s first moves into the controversial Ethereum-based crypto mixer, which helps users conceal their digital assets.
The hacker raided Poloniex in early November, stealing $56 million worth of ETH, $48 million worth of Tron (TRX) and $18 million worth of Bitcoin (BTC), as well as smaller amounts of other crypto assets.
The exchange, which is owned by Tron founder Justin Sun, offered a 5% white hat bounty that went unaccepted. and the hacker still holds $181.47 million worth of crypto in their primary address, according to Arkham.
Justin Sun-affiliated projects have endured a prolific string of attacks in the past several months: In September, hackers exploited the Sun-linked exchange giant HTX for approximately 4,999 Ethereum worth $7.9 million, according to the blockchain security firm PeckShield.
Then in November, hackers hit HTX and Heco Bridge, another Sun-linked project that’s used to move funds between Ethereum and energy-saving blockchain Heco Chain, for a combined $100 million, according to cybersecurity firm Cyvers.
And in January, hackers once again struck HTX, hitting the exchange with a distributed denial of service (DDoS) attack that caused a brief outage.
A DDoS attack is a malicious attempt by bad actors to flood the target website with traffic to overwhelm the site’s infrastructure.
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Altcoins
‘Last Dip Ever’ – Analyst Predicts Solana Rally, Says Three Memecoins Will Surge Alongside SOL
Published
2 days agoon
May 8, 2024By
adminA closely followed crypto trader believes that Solana (SOL) just witnessed its last major correction for this market cycle.
Pseudonymous analyst Inmortal tells his 213,300 followers on the social media platform X that SOL bulls successfully defended support at around $120.
The trader shares a chart suggesting that the blue-chip altcoin is now poised to rally to a fresh 2024 high at $320.
“Last dip ever.
SOL.”
At time of writing, SOL is worth $153.45, suggesting an upside potential of nearly 110% if the altcoin hits the analyst’s target.
Inmortal also predicts that a trio of memecoins will rally alongside Solana. The trader is taking a close watch on Floki (FLOKI), which he says looks bullish after retesting the 200 moving average (MA) on the eight-hour chart and reclaiming support at $0.00015.
Inmortal believes that FLOKI will dip to around $0.00017 before surging to $0.00025 later this month.
“IF SOL goes up, THEN FLOKI, DOGE, PEPE go up too.
Especially interested in FLOKI
> Deviation + Retest + 200 MA
> A bit lagged.”
At time of writing, FLOKI is trading at $0.000179.
Another coin on the trader’s radar is Seedify.Fund (SFUND), an incubator and launchpad specializing in blockchain gaming. According to the analyst, SFUND is currently in the process of cementing the $2.60 level as support.
“Retesting a 578 days accumulation, for the second time.
Definitely, you don’t see this every day.
SFUND.”
Looking at the trader’s chart, he seems to predict that SFUND will rally to $6 in the coming months. At time of writing, SFUND is trading at $2.65.
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