Author: News Room
As many assets in the cryptocurrency sector continue to trade near their all-time highs (ATHs), Solana (SOL) seems to be looking to reach the same levels itself, particularly after it smashed a critical resistance level and broke free from the declining trend. Specifically, Solana has recently broken its descending trendline and crossed the resistance at $195, confirming it as support “on today’s flash dip,” according to the observations shared by pseudonymous crypto trading analyst CryptoJelleNL in an X post on April 1. Solana price prediction As this crypto expert further pointed out, this could be the start of Solana’s meteoric…
Overclock Labs, the force behind Akash Network, teamed up with ThumperAI, a generative AI startup, to embark on a foundational model training endeavor utilizing Akash Network’s GPUs. This collaboration, taking place towards the end of 2023, aimed to push the boundaries of decentralized cloud computing by training a foundation model, highlighting a significant leap in AI and cloud computing integration. Using Akash Network to Train AI The initiative sought to address the challenges associated with generative AI foundation model training. These include high costs, stringent hardware requirements, and complex software needs. Therefore, it set an ambitious benchmark for decentralized computing…
Forty-eight U.S. lawmakers have sent a letter to U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler asking him to clarify whether ether is a security. “The negative repercussions of the SEC implicitly or directly classifying ETH as a digital asset security will cascade throughout the digital asset marketplace both in the short and long […] Read the full article here
Amidst improved investor sentiment, blockchain security firm PeckShield’s report for March 2024 revealed a concerning surge in crypto hacks, with over 30 incidents causing approximately $187.29 million in losses. Despite these setbacks hindering progress in the DeFi sector, the community can find some solace in the recovery of almost $99 million during the same period. In fact, the latest figure also marks a significant 48% decrease from the previous month, February 2024. Among the most devastating breaches, Munchables, a Web3 gaming protocol on the Blast network, appears to have topped the chart after suffering an exploit that resulted in losses…
Quick Take Bitcoin on-chain data by Glassnode portrays a bullish sentiment, underscored by robust support levels influenced by short-term holders‘ behavior. The Short-Term Holder Realized Price (STH RP), reflecting the average on-chain acquisition cost for coins moved within the last 155 days, recently soared to an all-time high of $57,547. Notably, its 7-day percent change stands at 4%, a significantly elevated figure following a remarkable 11% surge – marking the highest level since 2021. Over the past 14 months, the STH RP has consistently acted as a reliable price floor for Bitcoin, albeit with a minor exception in July and…
Base, the Ethereum layer-2 scaling network incubated by crypto exchange Coinbase, hit a daily record of $1.22 billion worth of trading volume at decentralized exchanges (DEXs) on Saturday. The frenzied surge in trading is due to a gold rush for meme coins that has Base-native coins like DEGEN and BRETT hitting over half a billion dollars each in market cap. The network set a record for unique daily wallets interacting with a DEX on Saturday with 172,000, according to public blockchain data curated by Dune, and nearly matched that total again on Sunday. Decentralized exchange (DEX) volume on Base has…
According to on-chain data, a large amount of 13,500 ETH has been transferred from Bitfinex, a major crypto exchange, to an unknown wallet. The transfer of a substantial amount of Ethereum from Bitfinex to an unknown wallet has led to speculation within the cryptocurrency community about the possibility of a whale buying Ethereum. The transfer was spotted and reported by Whale Alert, a service that tracks large cryptocurrency transactions: “13,500 ETH worth $47,991,234 was transferred from Bitfinex to an unknown wallet.” 🚨 🚨 13,500 #ETH (47,991,234 USD) transferred from #Bitfinex to unknown wallethttps://t.co/4InmhT3mWM — Whale Alert (@whale_alert) April 1, 2024…
Cryptocurrency exchange Coinbase announced in its statement that it will list the Arkham (ARKM) altcoin. According to the statement made by Coinbase, the ARKM token will be supported on the Ethereum network and tokens sent by users from other networks may be lost. According to the official statement, trading for ARKM will open around 19:00 Turkey time on April 2, 2024 (Tomorrow). Arkham, released as Binance’s 32nd Launchpad project, actually stands out as a very controversial cryptocurrency. Arkham basically distributes ARKM tokens as rewards to users who reveal the identity of addresses that should be anonymous on the blockchain. There…
Dogecoin (DOGE), the world’s largest meme token, continued its strong rise, gaining more than 25% last week. At this point DOGE has gained 134% so far since the beginning of 2024. While wondering what the reasons are behind this rise in Dogecoin and whether the rise will continue, on-chain data provider Santiment stated that the strong momentum in Dogecoin is due to strong whale activity. Stating that, according to the data, a significant amount of inactive whales reactivated DOGE assets and put them back into circulation, Santiment said that this activity brought an increase in DOGE. Santiment also noted that…
Gaming has consistently onboarded and engaged more users than other Web3 sectors like DeFi, NFTs, and Decentralized Social Media (DeSoc). By February 2024, gaming dApps contributed 28% of the 6.7 million daily Unique Active Wallets (dUAWs)—a 20% increase from January. —As Web3 games evolve rapidly, the traditional gaming industry could witness lower growth rates between 2024 and 2027. It’s due to market saturation, regulatory tightening, etc. Revenues for leading Web2 game publishers like Tencent and NetEase have declined YoY.The digital gaming industry needs Web3 to reach the projected $282 billion in 2024. Emergent on-chain games will rise to the occasion.…