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Charles Hoskinson Defends Cardano Amid Growing Criticism

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Charles Hoskinson, the founder of the Cardano blockchain, has recently addressed the growing criticisms surrounding Cardano. In a detailed explanation, Hoskinson discussed the transition into the Voltaire era of the blockchain, which he believes is a significant phase meant to address long-standing issues and enhance governance.

Cardano Rising: Charles Hoskinson Challenges Critics in Bold Response

Charles Hoskinson has defended the Cardano blockchain amid growing negative sentiment within the cryptocurrency community. His defense comes at a pivotal moment as Cardano transitions into its Voltaire era, a development that will address many of the grievances that have built up over the years. 

This era is a critical step towards realizing the full potential of the Cardano ecosystem, marking a shift towards community-driven governance mechanisms.

Moreover, Hoskinson asserts that this transition is not an indication of failure but rather a strategic move to strengthen Cardano foundation. He emphasized that the negative perceptions are primarily due to misunderstandings about the blockchain’s developmental trajectory and the shifts required for growth. 

Hoskinson believes that Cardano can effectively address and resolve the issues that have hindered its progress. He emphasized,

“Now that Voltaire is here, the new governance is capable of listening and adapting to meet these needs and also executing a new roadmap to grow the ecosystem dramatically.”

Governance and Innovation on the Cardano Blockchain

With the arrival of the Voltaire era, Charles Hoskinson points out that the Cardano blockchain can implement changes and improvements directly influenced by community feedback. The founder of IOG cites these developments crucial for an adaptable and blockchain ecosystem. 

Additionally, the introduction of the Midnight network, a new development focused on privacy and secure smart contracts, highlights Cardano’s commitment to innovation and security. This move, according to Hoskinson, ensures that the blockchain remains a leading technology in the space. Concurrently, stresses that the advancements are essential for Cardano to maintain its competitive edge and address user needs.

Market Reactions and Future Prospects

Despite the optimistic outlook from Hoskinson, market analysts have expressed concerns about ADA price. Most recently, analyst Max Keiser warned that ADA price risks a 90% crash. These speculations arise amidst a broader market uncertainty affecting many cryptocurrencies. However, Hoskinson remains unfazed, reinforcing that the fundamental value of Cardano lies in its long-term potential.

Charles Hoskinson concludes that the true measure of Cardano’s success will be its ability sustain growth through innovation. The founder expressed optimism stating, “Cardano isn’t dying. It’s thriving and growing.”

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Ronny Mugendi

Ronny Mugendi is a seasoned crypto journalist with four years of professional experience, having contributed significantly to various media outlets on cryptocurrency trends and technologies. With over 4000 published articles across various media outlets, he aims to inform, educate and introduce more people to the Blockchain and DeFi world. Outside of his journalism career, Ronny enjoys the thrill of bike riding, exploring new trails and landscapes.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Everything You Should Know About Binance Traders League

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7 hours ago

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October 10, 2024

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One of the popular cryptocurrency service providers in the world has launched the ‘Binance Traders League.’ This is believed to be the most interesting crypto trading event of 2024 and is focused on enhancing investors’ trading experience through challenges and adequate rewards. Binance is one the largest & popular crypto exchanges with over 230 million users and has begun this trading league to appreciate and reward the same crypto community.

Talking of rewards, a crypto trader made $3.37M in profits after his Popcat holding grew twice within a month.

Binance Traders League Launched With $10M Price Pool

Over the years, Binance has introduced many things to make crypto trading more accessible for investors. In one such step, they have launched the Binance Traders League with a $10M prize pool. More importantly, they have designed this league in a way that people of different experiences can come together and enjoy it.

This Binance Traders League is divided into two regions. One has already gone live and will run for 20 days, whereas the second part will start later. As per the Binance news, traders with all skill levels can join and complete solo or team-based challenges.

Even the Binance CMO, Rachel Conlan, has expressed her views on this Binance Traders League, saying that it is their mission to provide more accessibility and exciting opportunities for crypto investors. More importantly, the people will get to learn, grow, and even earn significant rewards from this $10 Million prize pool.

Interested participants can join these league challenges by achieving a minimum TV (trading volume) of $500. More importantly, it is available for all crypto traders, including the regular and VIP (levels 1-6). All these users can join and earn rewards with various eligibility criteria, including Return on Investment (ROI), Profit and Loss (PnL), and Trading Volume.

Two Main Competitions of Binance Traders League

As per the official Binance announcement, this crypto trading league will facilitate two main competitions, the Spot Traders League and the Futures Traders League. The $10M prize pool is between these two, where each has different challenges and rewards.

The Spot Traders League is live with a prize pool of $3 million BNB vouchers. Additionally, the best performers can access another $1.5 Million worth of BNB. This also has a bonus task that can make another $200,000 USDC, where the players will have to explore Spot Copy Trading and crypto Trading Bots.

Finally, this league has already begun and will run from October 8 to 28. Here, the participants will be ranked on their total ROI percentage and trading volume percentage.

Binance Traders LeagueBinance Traders League

The second is the Future Traders League, with a prize pool of USDT vouchers worth $7 million. The players can choose to play either Solo or in teams in this category. However, it is important to note that the schedule varies for each category. The Solo trading challenge has already begun since October 8 and will be live till October 28. However, the team crypto trading will begin on October 17 and run until November 6, 2024.

Here, one more important element is that the user can share an additional $700,000 prize pool if they are first-time futures trading.

Final Thoughts

With the Binance Traders League, the exchange has offered a unique trading opportunity. Basically, the traders of all levels can come together, participate in various challenges, and earn up to $10 Million in vouchers and other additional rewards. As per the Binance news, there are two main events in this Short and Futures trading league, each with different timelines, rewards, and ranking criteria, making it much more interesting. Besides, the market is also approaching the Uptober and Crypto market rally. So, this is another opportunity to take advantage of before turning entirely bullish. However, there are certain risks, so an crypto trader should participate in trading and such challenges wisely.

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Pooja Khardia

With a deep-seated passion for reading and five years of experience in content writing, Pooja is now focused on crafting trending content about cryptocurrency market.

As a dedicated crypto journalist, Pooja is constantly seeking out trending topics and informative statistics to create compelling pieces for crypto enthusiasts. Staying abreast of the latest trends and advancements in the field is an integral part of her daily routine, fueling a commitment to delivering timely and insightful coverage

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Binance Expands Support For BNSOL After Listing, Here’s How To Stake

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10 hours ago

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October 10, 2024

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Crypto exchange Binance on Thursday again issued an important announcement surrounding the staked SOL token on the exchange, BNSOL. The crypto exchange revealed that it is now adding the staked token on ‘Earn, Convert & Margin,’ enhancing trade offerings for users. These enhancements follow the token’s recent listing on the same exchange, echoing optimism for the crypto’s long-term perspectives.

Binance Enhances Offerings For Staked SOL

As per an official Binance announcement dated October 10, BNSOL is all set to be added on Earn, Convert, and Margin platforms today. Simple earn and flexible products for the token will be listed on ‘Simple Earn’ today at 08:00 UTC and will thereafter be available for subscription. Simultaneously, users will be able to trade the asset against BTC, USDT, and other tokens on ‘Convert’ at zero trading fees within one hour of the asset’s listing on the spot trading platform.

Additionally, the staking crypto will also be added to Cross and Isolated Margin along with SOL pegged pairs on October 14 at 08:00 UTC. These enhanced offerings, after the exchange recently revealed listing for the token, have reverberated optimism among market participants globally. CoinGape Media reported earlier that with Binance’s backing, BNSOL secured listing, sparking considerable optimism across the broader market.

How To Stake SOL?

Meanwhile, the crypto exchange also rolled out three ways for users to stake their SOL on the platform. One can easily go to the ‘SOL pledge’ section on the ‘financial management’ page and achieve staking. Further, users can also get the staked token by pledging SOL in the Binance Web3 wallet. Lastly, users can directly recharge the staked Solana token into their accounts, the announcement added. All new and old token holders are eligible to enjoy up to 10% APR during the promotion period.

Simultaneously, BNSOL price rested at $139.5 at press time, down nearly 3% in the past 24 hours. Similarly, SOL price traded at $139, noting a 2.5% decline at press time. Nevertheless, the listing plans have garnered significant attention to the staking token. It’s also worth noting that the token represents staked SOL and income collectively in a tradeable and transferable form on the exchange.

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Coingape Staff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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BTC Slips Below $61K, Altcoins Tumble on PlusToken Related Selloff

Published

17 hours ago

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October 10, 2024

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The crypto prices on Thursday sparked a bearish sentiment among market watchers globally. Bitcoin (BTC) price slipped back to the $60K level over the past day, whereas Ethereum (ETH), Solana (SOL), and XRP traded dominantly in the red territory. This waning movement aligns with massive selloffs looming in the wake of the PlusToken scam.

Simultaneously, the global crypto market cap dipped 1.94% in the past 24 hours to $2.13 trillion. Also, the total market volume decreased 2.91% to $67.22 billion. Here’s a brief report on some of the top cryptocurrencies by market cap and their price movements today, October 10.

Crypto Prices Today: BTC, ETH, SOL, & XRP Plunge

The crypto prices today have illustrated a bearish movement in the past 24 hours, raising severe investor concerns globally. BTC price slipped to the $60K level today, whereas ETH, SOL, and XRP cracked 1%-3% in the past 24 hours. The slumping movement comes against the backdrop of sluggish flows in Bitcoin and Ethereum ETFs over the past day. Further, selloffs related to the PlusToken scam have added to bearish concerns and price movements. Also, altcoins have mainly mirrored the broader market trend. Let’s delve deeper into the top coins’ prices today.

Bitcoin Price Today

BTC price chart showcased a nearly 2% dip in value and is currently sitting at $60,852. The coin’s intraday low and high were recorded as $60,314.22 and $62,508.84, respectively. Today’s waning movement comes against the backdrop of $44.47 million outflows in Bitcoin ETFs as of October 9, per Sosovalue data at press time that excludes BITB. Further, even the flagship crypto’s market dominance slipped 0.16% over the past day to 56.59%. BTC’s market cap rested at $1.2 trillion today. Despite the recent buzz echoing with the HBO documentary on BTC creator Satoshi Nakamoto, the coin continues to consolidate.

Ethereum Price Today

ETH price illustrated a drop of over 2% in the past 24 hours and is currently trading at $2,395. The coin’s intraday low and high were recorded as $2,350.95 and $2,469.21, respectively. This slumping movement comes against the backdrop of $0 million net flows in Ethereum ETFs as of October 9, excluding ETHW data. Ethereum’s market cap rested at $288.30 billion today. Meanwhile, the Chinese government appears to be preparing for a massive selloff of 7000 ETH recently sent to exchanges, birthing additional concerns among market participants.

Solana Price Today

Simultaneously, the crypto SOL witnessed a 3% dip in value to reach $140. The coin’s intraday low and high were $137.85 and $144.17, respectively. Solana’s market cap stood at $65.72 billion today. The coin rides along a bearish trend in-sync with the broader market sentiment.

XRP Price Today

Meanwhile, XRP price slipped nearly 1% in the past 24 hours and is currently trading at $0.5272. The coin’s 24-hour low and high were $0.5219 and $0.5339, respectively. XRP’s market cap was recorded to be $29.87 billion today.

Meme Coins Prices Today

Dogecoin (DOGE) price witnessed a nearly 1% fall and is trading at $0.1079 today. Similarly, Shiba Inu (SHIB) price dropped over 2% in value today and is sitting at $0.00001711. In the interim, PEPE, WIF, and BONK prices cracked 3%-5% in the past 24 hours, in line with the broader market trend.

Top Crypto Gainers’ Prices Today

Conversely, some coins have also defied the broader market trend today.

First Neiro On Ethereum Price

NEIRO price soared over 5% in the past 24 hours and is currently sitting at $0.001784. Its intraday low and high were $0.001618 and $0.001912, respectively.

Uniswap Price

UNI price noted gains worth 4% in the past 24 hours and is trading at $7.40. The coin’s 24-hour low and high were $7.08 and $7.42, respectively.

UNUS SED LEO Price

LEO price jumped over 1% to reach $6.06 today. The coin’s intraday low and high were $5.92 and $6.18, respectively.

Top Crypto Losers’ Prices Today

Aptos Price

APT price dipped 8.5% over the past day and is now trading at $8.42. The coin’s intraday low and high were $8.38 and $9.38, respectively.

THORChain Price

RUNE price slipped nearly 7% over the past day and is now sitting at $4.63. Its intraday low and peak were $4.55 and $5.06, respectively.

FTX Token Price

FTT price fell 6% in the past 24 hours and is now trading at $2.18. Its intraday low and high were $2.12 and $2.34, respectively.

Besides, the hourly time frame charts sparked further concerns over the cryptocurrency prices today as BTC slipped by 0.14% and ETH by 0.08%.

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Coingape Staff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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