DigiToads (TOADS) offers an innovative approach to the NFT space and a promising investment opportunity.LDO is the native token of popular liquid staking platform Lido DAO.Meanwhile, Toncoin’s TON has the potential to benefit from the massive Telegram community and the social media giant’s involvement in The Open Network blockchain. From decentralised finance (DeFi) to non-fungible tokens (NFTs), the crypto space is evolving rapidly.As the <a href="https://coinjournal.net/news/category/markets/">markets</a> evolve and <a href="https://coinjournal.net/news/tag/cryptocurrency/">cryptocurrency</a> becomes a viable investment option, more and more investors are looking at the next big opportunity. While the more established coins like Bitcoin and Ethereum remain top assets for any portfolio, <a href="https://digitoads.me/cjl">DigiToads (TOADS)</a>, Lido DAO (LDO), and Toncoin (TON) offer promising potential for growth and profitability. Here is an outlook for the three altcoins and why they may be well-positioned to take advantage of the latest trends. <a href="https://digitoads.me/cjl">DigiToads</a>DigiToads sits on the top tier of the three altcoins that have the potential to soar in 2023. DigiToads is a decentralized exchange (DEX) built on the Binance Smart Chain (BSC). The project aims to provide its users with a fast, low-cost, and user-friendly trading experience while offering them unique benefits, such as liquidity provision incentives and staking rewards. DigiToads also features a governance token (TOAD) that allows its holders to participate in the decision-making process of the platform and earn rewards for doing so. A big highlight of DigiToads is its presale. The presale of DigiToads is up and going in full swing. 86% of the total TOADS token has already been sold, and we still have time till the end date. This presale offers a chance to buy into an exciting new project. <a href="https://digitoads.me/cjl">>> Buy DigiToads Now <<</a>Lido DAO<a href="https://coinjournal.net/lido-dao/">Lido DAO</a> is another altcoin on many investors’ watchlists. Lido DAO, founded in December 2020, is a Decentralized Autonomous Organization that facilitates Ethereum liquid staking. The platform seeks to overcome the challenges associated with traditional staking by allowing users to stake their assets without locking them up for prolonged periods. The LDO project has swiftly emerged as <a href="https://coinjournal.net/news/best-liquid-staking-tokens-for-january-2023/">one of the best liquid staking tokens</a>, attracting over $13 billion in staked assets in less than a year of its launch. Additionally, the platform features a referral program that rewards users with LDO tokens for introducing others to stake on the platform. Lido DAO has implemented a safelist feature for its referral program, ensuring that incentives are only distributed to Lido DAO-approved partners.TonCoinThe Open Network (TON) has its cryptocurrency, <a href="https://coinjournal.net/toncoin/">Toncoin (TON)</a>, and operates as a decentralized Layer-1 blockchain network. The project was initially developed by Telegram before it fully became a community-run platform following legal action by the SEC. After a slow start, Toncoin has been experiencing significant activity lately, largely due to Telegram’s recent focus on creating a decentralized blockchain ecosystem.As a result, Toncoin boasts one of the most extensive crypto communities, with a loyal and bullish following that believes in its potential. The community is committed to supporting the project and remains optimistic about its future success.In 2023, several <a href="https://coinjournal.net/news/tag/crypto-exchange/">crypto exchanges</a> and traders are rating TonCoin highly. So, holding this coin might be a great addition to your portfolio..DigiToads (TOADS), Toncoin (TON) Lido DAO (LDO): SummaryDigiToads, Lido DAO, and Toncoin are three altcoins investors might want to look at and consider holding for 2023. DigiToads’ innovative approach to the NFT space…

<strong>Tel Aviv, Israel, April 25th, 2023, Chainwire</strong><a href="https://web3.tinytap.com/">TinyTap</a><strong>,</strong> a subsidiary of <a href="https://urldefense.com/v3/__https:/zwly9k6z.r.us-east-1.awstrack.me/L0/https:*2F*2Fwww.animocabrands.com*2F/1/010001804ca36ff6-255a7343-d909-41f3-971c-142a2309059a-000000/1omEQp5g3rK5LBKv44XtS6U2wrs=267__;JSUl!!ONfqSE10Kw!8g26k-RQX7OtGTBY4AfEo7N3-LVjdDx5VHcj7MHLnVodKZ1MSEwE4JPjlUMjDSXqQemC5JDmvALviM4ZWrJ3d_GCUaY%24">Animoca Brands</a> and the leading edtech platform for user-generated educational games, today announced that it has raised US$8.5 million from investors including Sequoia China, Liberty City Ventures, Kingsway Capital, Shima Capital, Polygon, GameFi Ventures, and others. The funding will be used to support TinyTap’s business expansion and accelerate development in the edtech space.The investment will enable TinyTap to continue to expand its successful Web2 platform, which already serves over 9.2 million registered members, into an alternative Web3 education system that better values teachers by improving the earning opportunities available to them, and enables parents and communities to support and promote their preferred educational materials.TinyTap launched its Web3 strategy in 2022 with two successful auctions of Publisher NFTs, which generated 243 ETH (approximately US$352,000 at times of auction). Publisher NFTs are a new concept introduced by TinyTap to better empower, reward, and incentivize educational content creators and publishers.Each Publisher NFT represents co-publishing rights to one TinyTap Course, which is a curated bundle of educational games made on the TinyTap platform by one teacher in one specific subject. When these NFTs are sold, the proceeds are shared with the Course creators, and the NFT buyers assume the role of co-publishers. In return for promoting and marketing the associated Courses, the buyers share in the benefits generated from co-publishing efforts.Since the TinyTap Publisher NFTs were auctioned in Q4 2022, the average income to NFT buyers resulting from their co-publishing efforts amounted to approximately 8.2% (or 19.7% annualized) of the purchase price of the Publisher NFTs*.The Publisher NFT model is therefore able to simultaneously benefit the creators of educational content, the buyers of the Publisher NFTs, and TinyTap. This frees the creators to focus their efforts on generation of quality content, while TinyTap and the buyers of Publisher NFTs distribute and promote the content.Misa Matsuzaki owns two Publisher NFTs and earned about $7,823 from November 2022 to March 2024 by co-publishing the associated courses. She commented: “TinyTap helps teachers to actualize great ideas into educational content that can be accessed regardless of location – for example, one of the courses I bought was adapted for Japan. I did the first translation and voice over myself with the help of the TinyTap  team. I look forward to seeing how Japan will welcome these exciting new possibilities in education! I would like to see more use cases like TinyTap Publisher NFTs, which are so much more interesting than just having NFTs sitting in our wallet!“Yogev Shelly, CEO of TinyTap, commented: “Our Publisher NFTs genesis auctions demonstrated that the Web3 community is well suited and willing to support educators and educational content via this new powerful and equitable incentive system. By pairing educational content creators with interested promoters, we are able to benefit all parties fairly and take a significant step in our goal to put the power of learning back in the hands of educators, students, and the community.”Yat Siu, co-founder and executive chairman of Animoca Brands, commented: “Teachers and educators are among the most important content creators and contributors in  society, and yet their wages typically do not reflect their critical importance. This is why we’re incredibly excited at the Web3 opportunities that TinyTap is exploring in the field of education. Having already…

Celo Network announced on Tuesday that it had joined Chainlink’s SCALE program.The mobile-first, EVM compatible blockchain platform will benefit from high-quality, low cost oracle services.Chainlink oracle nodes will power Data Feeds on Celo.Celo (CELO), a mobile-first, EVM compatible blockchain network, has joined the Chainlink SCALE program as it looks to tap into the oracle data and services of Chainlink (LINK) to accelerate Celo ecosystem adoption.According to a press announcement the Celo Foundation published on Tuesday, the development comes after a community approval of a proposal that outlined the partnership. The Celo governance forum approved the proposal with 99% yes in the on-chain vote in March.SCALE to boost Web3 mobile applications on CeloSCALE is a program that seeks to boost sustainable growth for L1 and L2 blockchains by providing developers access to high-quality, but low-cost oracle services.“Through the strategic deployment of resources, Celo will cover operating costs for Chainlink oracle nodes powering Data Feeds on the Celo Network. As the Celo ecosystem expands, dApp fees can eventually cover the full operating costs of Chainlink nodes,” Chainlink announced via its official Twitter account.Joining the initiative does not just give Celo developers access to industry-leading oracle services; it means projects can now look to minimized gas fees, with Celo able to support development of next-generation mobile applications.Xochitl Cazador, Head of Ecosystem Growth at the Celo Foundation, said the collaboration is a key step towards long-term sustainability for the blockchain.“Developers building on Celo now have access to Chainlink’s oracle services, enabling the next generation of highly scalable Web3 mobile applications. We welcome Chainlink to the Celo community and look forward to the continued growth and collaboration between our communities.”The post Celo (CELO) blockchain joins Chainlink’s SCALE program appeared first on CoinJournal.

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<strong>Tel Aviv, Israel, April 25th, 2023, Chainwire</strong><a href="https://web3.tinytap.com/">TinyTap</a><strong>,</strong> a subsidiary of <a href="https://urldefense.com/v3/__https:/zwly9k6z.r.us-east-1.awstrack.me/L0/https:*2F*2Fwww.animocabrands.com*2F/1/010001804ca36ff6-255a7343-d909-41f3-971c-142a2309059a-000000/1omEQp5g3rK5LBKv44XtS6U2wrs=267__;JSUl!!ONfqSE10Kw!8g26k-RQX7OtGTBY4AfEo7N3-LVjdDx5VHcj7MHLnVodKZ1MSEwE4JPjlUMjDSXqQemC5JDmvALviM4ZWrJ3d_GCUaY%24">Animoca Brands</a> and the leading edtech platform for user-generated educational games, today announced that it has raised US$8.5 million from investors including Sequoia China, Liberty City Ventures, Kingsway Capital, Shima Capital, Polygon, GameFi Ventures, and others. The funding will be used to support TinyTap’s business expansion and accelerate development in the edtech space.The investment will enable TinyTap to continue to expand its successful Web2 platform, which already serves over 9.2 million registered members, into an alternative Web3 education system that better values teachers by improving the earning opportunities available to them, and enables parents and communities to support and promote their preferred educational materials.TinyTap launched its Web3 strategy in 2022 with two successful auctions of Publisher NFTs, which generated 243 ETH (approximately US$352,000 at times of auction). Publisher NFTs are a new concept introduced by TinyTap to better empower, reward, and incentivize educational content creators and publishers.Each Publisher NFT represents co-publishing rights to one TinyTap Course, which is a curated bundle of educational games made on the TinyTap platform by one teacher in one specific subject. When these NFTs are sold, the proceeds are shared with the Course creators, and the NFT buyers assume the role of co-publishers. In return for promoting and marketing the associated Courses, the buyers share in the benefits generated from co-publishing efforts.Since the TinyTap Publisher NFTs were auctioned in Q4 2022, the average income to NFT buyers resulting from their co-publishing efforts amounted to approximately 8.2% (or 19.7% annualized) of the purchase price of the Publisher NFTs*.The Publisher NFT model is therefore able to simultaneously benefit the creators of educational content, the buyers of the Publisher NFTs, and TinyTap. This frees the creators to focus their efforts on generation of quality content, while TinyTap and the buyers of Publisher NFTs distribute and promote the content.Misa Matsuzaki owns two Publisher NFTs and earned about $7,823 from November 2022 to March 2024 by co-publishing the associated courses. She commented: “TinyTap helps teachers to actualize great ideas into educational content that can be accessed regardless of location – for example, one of the courses I bought was adapted for Japan. I did the first translation and voice over myself with the help of the TinyTap  team. I look forward to seeing how Japan will welcome these exciting new possibilities in education! I would like to see more use cases like TinyTap Publisher NFTs, which are so much more interesting than just having NFTs sitting in our wallet!“Yogev Shelly, CEO of TinyTap, commented: “Our Publisher NFTs genesis auctions demonstrated that the Web3 community is well suited and willing to support educators and educational content via this new powerful and equitable incentive system. By pairing educational content creators with interested promoters, we are able to benefit all parties fairly and take a significant step in our goal to put the power of learning back in the hands of educators, students, and the community.”Yat Siu, co-founder and executive chairman of Animoca Brands, commented: “Teachers and educators are among the most important content creators and contributors in  society, and yet their wages typically do not reflect their critical importance. This is why we’re incredibly excited at the Web3 opportunities that TinyTap is exploring in the field of education. Having already…

Peter Lynch reveals that he does not own any cryptocurrency.He’s sticking to his ‘buy what you know’ investment strategy.Lynch regrets not investing in Apple and Nvidia in recent years.Bitcoin has massively outperformed equities since the start of this year but legendary investor Peter Lynch continues to prefer the latter.Lynch does not own any cryptocurrencyOn Tuesday, the Vice Chairman of Fidelity Management & Research confirmed that he’s not exposed to cryptocurrencies.Interestingly, Lynch is familiar with the technology that powers the crypto space. Still, he said today on CNBC’s “Squawk Box”:I do understand blockchain. I know how it works. But what bitcoin is going to be, I have no idea. I don’t own any bitcoin or ether coin.Lynch is keeping away from BTC even though he knows the total supply of it will be cut in half next year – an event that usually translates to higher price.Lynch is sticking to ‘buy what you know’Bitcoin has now slipped back to the $27,000 level but is still keeping above a key support suggesting the bullish sentiment is still there.But for years, Fidelity’s Peter Lynch has recommended that investors “buy what they know” – and to him, that means stocks. Explaining how to pick stocks and when to pull out of them, he said:Look at the company, the balance sheet. What’s the reason stock should be higher? When companies go from crappy to semi-crappy to good, stock goes up. When business gets terrific, get out.Lynch expressed regret today for not investing in a number of large-cap tech companies in recent years, particularly Apple Inc and Nvidia Corporation.The post Crypto vs stocks: legendary investor Peter Lynch takes a side appeared first on CoinJournal.

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Dubai, United Arab Emirates, April 25th, 2023, ChainwireThe team at Unizen, operating the Web3 ecosystem found at zcx.com, is pleased to announce a strategic partnership with the team at THORChain. Specifically, Unizen has integrated the THORChain settlement layer to enable swaps between ETH (Ethereum) and AVAX (Avalanche C-chain) to BTC (Bitcoin) and vice versa.“THORChain has devised an exceptionally refined solution that has proven resilient against the trials of time and fluctuations in market conditions, facilitating decentralized liquidity for assets on non-programmable chains.”, says Martin Granström, CTO of Unizen. “This made THORChain the obvious selection for empowering trades on the Unizen Trade platform involving Bitcoin, Litecoin, Dogecoin, and additional cryptocurrencies.”“Unizen is an excellent venue to offer cross-chain swaps powered by THORChain. The industry has been slowly moving from centralized swap services to DeFi protocols. The goal is to bring the centralized exchange trading experience to users while maintaining the security of self custody”, says Gavin McDermott, CEO of Nine Realms. “Unizen already offers a best-in-class experience as a DEX aggregator and we are excited to help them expand their cross-chain routes with native Bitcoin and more.”About UnizenUnizen is a cutting-edge operating system for Web3 applications that enables users to seamlessly, cost-efficiently, and securely interact with all things Web3. It is designed to provide a non-custodial, unified user experience for interacting with various Web3 applications and assets, regardless of the underlying blockchain technology. Unizen uniquely solves the complexities, accessibility, costs and interoperability issues plaguing the DeFi space.WebsiteTwitterDiscordTelegramInstagramMediumAbout THORChainTHORChain is a cross-chain liquidity protocol that facilitates the exchange of native digital assets on multiple blockchains including Bitcoin, Ethereum, BNB Chain, Avalanche, Bitcoin Cash, Litecoin, Dogecoin, and Cosmos Hub. THORChain does not use wrapped assets or external dependencies like oracles. It is permissionless to become a validator, add liquidity, or make a swap. Dozens of wallets, exchanges, and DEX aggregators make use of THORChain’s liquidity to offer in-kind yield and cross-chain swaps to their users.WebsiteMediumTwitterContactSean David Noga, sean@unizen.ioThe post Unizen (ZCX) enters a strategic partnership with THORChain (RUNE) appeared first on CoinJournal.

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Binance.US has reportedly terminated its deal for assets of Voyager Digital.The $1 billion deal had been approved by a US court.The price of VGX, the native Voyager token, fell more than 10% after the news.Binance.US has terminated its acquisition deal for the assets of Voyager Digital, according to a tweet posted on the bankrupt crypto lender’s Twitter account.“Today we received a letter from Binance.US terminating the asset purchase agreement. While this development is disappointing, our chapter 11 plan allows for direct distribution of cash and crypto to customers (a “toggle option”) via the Voyager platform,” the announcement read.1/ Today we received a letter from https://t.co/yG7Airmib5 terminating the asset purchase agreement. While this development is disappointing, our chapter 11 plan allows for direct distribution of cash and crypto to customers (a “toggle option”) via the Voyager platform.— Voyager (@investvoyager) April 25, 2023The Voyager token VGX fell more than 10% after the news, trading to lows of $0.317.The purchase agreement for Voyager assets has been somewhat on and off, with Binance.US first being blocked from the deal by US authorities before a court allowed it to proceed. Despite the latest setback, the Voyager Chapter 11 plan team says the key is to return value to the platform’s customers.“Consistent with the plan, we will now move swiftly to return value to customers via direct distributions. We will provide more information on next steps and any actions customers need to take in the coming days,” the tweet read.Voyager filed for bankruptcy in July 2022 after a market turmoil amid contagion forced it to halt withdrawals.Binance.US had not released a statement on the development at the time of going to press.The post Binance.US terminates $1 billion deal for Voyager assets appeared first on CoinJournal.

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Bitfinex and Penguin Academy collaborate on a three-week coding bootcamp for women in Paraguay.The bootcamp will look to empower women in tech as from 3rd-24th May, 2023.Course curriculum includes fundamentals of Python coding as well as blockchain,IoT and robotics.Bitfinex, a leading digital asset trading exchange, has announced its sponsorship of an upcoming coding bootcamp dedicated exclusively to women.In a press release shared with CoinJournal on Tuesday, Bitfinex said it would be partnering with the Penguin Academy, to offer the three-week introductory coding course.  The bootcamp will run from 3rd to 24th May, 2023, in Ciudad del Este, Paraguay.“We are delighted to collaborate with Penguin Academy to introduce this invaluable academic opportunity to women in Paraguay. The power of code is evident in Latin America where it can act as a powerful tool, especially in the hands of women who are then empowered to build and deploy novel solutions to benefit their communities,” said Claudia Lagorio, the Chief Operating Officer of Bitfinex.Bitfinex’s support for the program demonstrates its strong commitment towards the use of technology to promote individual freedom across “underserved communities worldwide,” Lagorio added.Course includes microelectronics, robotics and IoTThe course curriculum, crafted by Penguin Academy, will feature basic Python coding, blockchain and microelectronics. Participants will also benefit from invaluable workshops in web development, robotics and IoT.Students will also benefit from networking opportunities, with multiple events lined up for this – including meet and greets, career nights and speed dating.Oganisers have planned for a five-day hackathon to end the bootcamp, with a demo day seeing the top three contenders awarded scholarships for the Plan B Summer School set for Lugano, Switzerland. The partnership with Penguin Academy is the latest Bitfinex program that champions for individual freedom and financial inclusion via technological innovation. The crypto exchange was founded in 2012.Penguin Academy, also founded in 2012, has run its coding bootcamp in Switzerland, Germany, Bulgaria, China, and the Philippines. The bootcamp landed in Paraguay in 2019 and has seen over 2000 young people trained.The post Bitfinex sponsors women coding bootcamp in Paraguay appeared first on CoinJournal.

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$0.6 offers a strong horizontal resistanceThe bias remains bullish while the market holds above the 2023 lowsA daily close above $0.6 should trigger more upsideIt must have been a frustrating second half of the last year for cryptocurrency investors. As the dollar began to weaken, major stock market indices bounced. But the dollar’s weakness was not seen in the cryptocurrency market until the very last days of the year. Moreover, the divergence continued from last October, when the stock market bottomed, until the last trading days of the year. Only in 2023 things changed. Leading cryptocurrencies rallied, led by Bitcoin. Some bounced stronger than others. In the case of XRP/USD, it met horizontal resistance at $0.6, a level that provided support in 2021. MediaXRPUSD chart by TradingViewA daily close above $0.6 would be bullish for XRP/USDAfter trading above $1.8 in 2021, when the entire cryptocurrency market rallied, Ripple gave up a big chunk of its gains. On the way down, the market met support at $0.6 for over a year. Eventually, the support gave way as the bears were in control. But now, the same area that acted as support acts as resistance. In technical terms, this is called the interchangeability principle (i.e., support becomes resistance and vice versa). If the bottom carved in the late days of 2023 is here to stay, then the focus is on the $0.6 area. A daily close above would be bullish, and the next immediate target would be $0.8. However, only a break above parity would shift the bias from bearish to bullish. All in all, XRP/USD looks constructive here. As long as the lows hold, the chances are that the market is only building energy for another attempt at the $0.6 level. The post XRP/USD fails at horizontal resistance, but the bullish bias remains appeared first on CoinJournal.

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Key takeawaysCircle’s CEO Jeremy Allaire has blamed the banking crisis in the United States for USDC’s recent struggles.USDC has lost roughly $13 billion of its value in recent months.Allaire says investors are de-risking outside of the US, and this is affecting USDC.Allaire blames US crackdown for recent strugglesJeremy Allaire, the CEO of Circle, USDC’s issuer, has blamed the government for the stablecoin’s recent struggles. He mentioned this during an interview with Bloomberg on Wednesday, April 26th.According to the Circle CEO, investors are looking to de-risk out of the United States due to the recent banking crisis that has rocked the country. Earlier this year, Silvergate Bank shut down its cryptocurrency operations, affecting numerous crypto companies, including Circle. The stablecoin issuer was forced to move its USDC reserve deposits out of Silvergate Bank as the financial institution continued to struggle.In the interview, Allaire told Bloomberg TV that;“We are seeing a huge amount of concern globally about the US banking system. We are seeing concern about the regulatory environment in the US.”Circle’s USDC temporarily lost its $1 peg during the banking crisis but regained its value as the market stabilised. Allaire has urged lawmakers in the United States to step up and provide clear regulation for the crypto space. He stated that;“The European Union, Hong Kong, Singapore and the Middle East are making progress on crypto rules, while the US is behind right now.”USDC Falls Behind Tether’s USDTCircle’s recent struggles have seen its stablecoin fall behind its nearest competitor, Tether’s USDT. Following the banking crisis, USDC’s market cap dipped by more than $13 billion, and it currently has a market cap of around $30 billion.This has allowed Tether’s USDT to cement its position as the leading stablecoin in the market. USDT has a market cap of $81 billion, nearly triple that of USDC, its nearest competitor. Circle also had roughly $3.3 billion stuck in the now-collapsed Silicon Valley Bank. The company has already indicated that it intends to cover any financial shortfalls resulting from the recent banking crisis.The post USDC’s struggles is due to US crackdown, says Circle’s Jeremy Allaire appeared first on CoinJournal.

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Render Network’s token jumped sharply on Wednesday.The community passed two key votes: RNP – 002 and RNP – 003. Render Token (RNDR) price surged to a key resistance level after the developers made a major milestone. The token surged to a high of $2.20, which was the highest point this month. In all, the token has been one of the best-performing cryptocurrencies after rising by more than 140% from the lowest level in March.Render Network newsThe main reason why the RNDR price surged is that the community completed the RNP-002 and RNP-003 votes. These were the most important votes in the community because they will change the architecture of the network.Precisely, RNP-002 means that Render Foundation can now move ahead with implementing the BME model on the Solana ecosystem. Solana is a leading blockchain that is known for its fast speeds and low transaction costs. Unlike Ethereum, Solana can handle thousands of transactions per second while the average cost is less than $0.01. Therefore, by using Solana, Render hopes that its users will work at a faster pace and save a lot of money in transaction costs.Meanwhile, the RNP-003 vote was known as the Resource Acquisition and Allocation for Core Team and Grants. The vote simply makes it possible for the Render Foundation to acquire and allocate resources in a bid to grow the ecosystem. The next stage is that these votes will be updated to Approved and on the Roadmap. The RNP voting process for RNP-002 and RNP-003 has officially come to an end!Here are the results and what they mean for the future of the Render Network.🧵— Render Network | RNDR (@RenderToken) April 26, 2023Render Token price predictionMediaThe daily chart shows that the RNDR price has been in a strong bullish trend in the past few months. It has jumped from a low of $0.8932 in March to a high of $2.20. The token has jumped above all moving averages.The current price means that the token has formed a double-top pattern. In price action analysis, this pattern is usually a bearish sign. Therefore, with the Solana integration news confirmed, there is a likelihood that the token will pull back.This is known as buying the rumours and selling the news. It happens when investors buy an asset ahead of a major event and then sell when it happens. If this happens, the next key level to watch will be the neckline of the double-top at $1.622.How to buy Render Network tokenThe post Why is the Render Token (RNDR) price surging? appeared first on CoinJournal.

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Key TakeawaysLong-term holders are accumulating Bitcoin, with two-thirds of the supply stagnant for over a yearOur Head of Research, Dan Ashmore, writes that liquidity on the demand side is also drying up, with order books thin and stablecoins fleeing exchangesThis will kick up volatility in the short-term, leaving Bitcoin open to aggressive moves to both the upside and downsideLong-term the impact of a dwindling supply is a different discussion, but for now, risk is elevated in the already-risky crypto marketsA lot is made of the demand for <a href="https://coinjournal.net/bitcoin/">Bitcoin</a>. Are institutions giving up on it following a disastrous 2022 that saw the entire crypto sector go up in flames? Is the market moving back in now that interest rate forecasts have softened following the relentless rate hikes over the past year?But rather than the demand, it is the supply of Bitcoin that is often the more intriguing to look at. Famously sporting a fixed cap of 21 million coins, Bitcoin’s supply schedule is coded into the underlying blockchain. This quality has given rise to a million different theories around the future place – and price – of Bitcoin in the world. But there is another interesting analytical angle to Bitcoin: before the anonymous Satoshi Nakamoto launched Bitcoin in 2009, the world never had an asset that provided so much visibility over the supply distribution. The nature of the blockchain is that, while the individual holders are anonymous, the distribution of all coins is available for the world to see at all times. So, let’s have a look. Long-term holders are accumulating BitcoinCentral to many Bitcoin bulls’ long-term thesis is the idea that long-term holders will suck up supply, leading to an inexorable price rise. Looking at current holdings, two-thirds of the supply has not moved in a year. That is certainly a large number, and we will get into what that means in the next paragraph. Pushing the timeline further out, over half the supply (53.6%) has been stagnant for over two years, 39.7% has not moved in 3+ years, and 28.6% has been idle for 5 years or longer.  What does this mean for price?These are large numbers by any stretch. It is impossible to compare them to other asset classes, given that none are trackable on a ledger like the blockchain. Perhaps only commodities such as precious metals can compete with the above numbers, yet that is only speculation. But what does it mean? Is this a bullish sign? Well, yes and no. The immediate conclusion is that less supply means less demand is needed to push the price up, and the cap at 21 million Bitcoins certainly means if that demand keeps rising, the price has nowhere to go but up. However, there are mitigating factors here. The first is the reality that some of the above “long-term holders” are in fact just lost coins, be it through people who have passed away, forgotten about their coins or lost access to their wallets. Bitcoin creator Satoshi Nakamoto is one of those, the mysterious enigma holding approximately 1.1 million bitcoins, equivalent to a mammoth 5.2% of the supply. None of his/her/their coins have moved since they were mined back in the first eighteen months of Bitcoin’s existence. Not to get too tangential, but below is the value of Nakamoto’s holdings over the last 13 years, assuming a stash of 1.1 million Bitcoin from mid-2010. That is a <em>lot </em>of capital that holders must surely hope never floods the market.  Volatility to rise with less liquidity Regarding the impact of these large stashes of Bitcoin which are “removed” from circulation, the greatest impact – for now, at least – may be on the volatility rather than price. In the following chart, I have plotted the amount of Bitcoin sitting on exchanges, currently at a 5-year low.  Not only is the amount of Bitcoin on exchanges dwindling, but stablecoins are doing the same. Over half of the balance of stablecoins have flooded out of exchanges since December.   This means liquidity on both the demand and supply side of…

Band Protocol (BAND) price was up 16% to $1.90 as major exchanges including Binance announced support for its network upgrade.The uptick in cryptocurrency prices with Bitcoin (BTC) price bouncing to $29,000, also saw NEM (XEM) gain 4% to $0.04.The price prediction for BAND and XEM is for a continued bullish flip, although buyers need to hold critical support levels.Bitcoin (BTC) flipped higher from key support that has held over the past few days, with the bump to $29,000 providing a fresh bullish outlook for the cryptocurrency. With BTC price 6% up in the past 24 hours and crypto bouncing as new concerns hit the banking sector, a few altcoins look primed to make some decent moves.Band Protocol (BAND) and NEM (XEM) are green today, but what’s their short term price outlook?Band Protocol price prediction: BAND bullish above critical support levelThe Band Protocol network upgrade is coming on 27 April 2023 and the native BAND token is surging. Major exchanges, including Binance are set to support the upgrade, and that has the community excited. But what’s the BAND price outlook? BAND/USD recently broke down from a rising parallel channel on the daily time frame to hit support around $1.65. Today’s double digit gains (BAND price is up 16% at the time of writing) has the coin trading above both the 50-day and 200-day exponential moving averages.While the upside momentum is likely to push the price of Band Protocol higher, the key resistance zone is at the $2.0 psychological level. A bullish performance over the next few days could see buyers target $2.8.On the downside, failure to consolidate gains above the $1.8 level could leave sellers eyeing $1.33.MediaBand Protocol price chart. Source: TradingViewNEM price prediction: can XEM break higher this time?The XEM cryptocurrency has largely plateaued since its descent from highs of $0.77 reached in March 2021. Having corrected to lows of $0.028 in December 2022, XEM/USD flipped positive to hit $0.056 in February 2023.The cryptocurrency retested the $0.028 support level again today, 26 April 2023. But bulls are battling to recoup gains amid the overall crypto bounce.The coin currently trades near $0.04, with about 4% upside in the past 24 hours. But XEM remains negative on the week and in the past 30 days, trading 11% and 5% down respectively over these time frames.MediaXEM price outlook on the daily chart. Source: TradingViewA bearish crossover preceded the dip to the multi-month low and buyers have to reclaim $0.04 to extend today’s upside. Also, the daily RSI below the 50 line does not suggest much joy for bulls and a potential downward break to $0.033 and then $0.028 is a more likely short term scenario.The post Band Protocol (BAND) and NEM (XEM) price prediction as Bitcoin bounces to $29k appeared first on CoinJournal.

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iZUMi Finance (IZI) price dropped over 15% amid massive profit taking.The dump followed the token’s listing on major crypto exchange KuCoin.But while price could fall below $0.030, the cryptocurrency’s strong ecosystem growth could see increased IZI demand and aid price uptick down the road.iZUMi Finance (IZI) price fell more than 15% early Wednesday as the cryptocurrency’s market defied broader crypto prices outlook. IZI traded to lows of $0.032 as sell pressure mounted following the coin’s listing on major crypto currency exchange KuCoin.The dump is likely a “sell the news” scenario as the price of iZUMi Finance rose exponentially over the past few days. This after KuCoin announced it would list the native token of the multi-chain decentralised finance (DeFi) protocol.Even with today’s dip, IZI/USD was still trading more than 26% up in the past seven days and over 280% up in the past two weeks.iZUMi Finance price: sellers in control for IZI/USDWhile current price outlook suggests sellers might push IZI lower, the cryptocurrency is poised at a horizontal demand zone that has helped bulls for much of April. That suggests the profit taking could give way to new upside momentum.As for immediate price outlook, IZI/USD is likely to trade lower if bulls fail to keep $0.030. The hourly chart shows the token is trending towards the oversold territory though and could thus be due an upward flip should the $0.02 base hold. Otherwise, a dip to $0.011 could happen.MediaIZI price on the hourly chart. Source: TradingViewiZUMi Finance long term outlook: network strength keyA look at Izumi Finance’s network performance shows decent growth in total value locked (TVL). According to data on DeFiLlama, the TVL has risen sharply in the past 10 days – from under $2 million to over $25 million as of 26 April 2023.The DeFi protocol’s products iZiSwap, LiquidBox and DAO veNFT among others are also seeing greater uptake across the market. Indeed, the platform announced on Wednesday that it had closed a $22 million financing round for the on-chain order book iZiSwap Pro.The iZiSwap recently launched on zkSync Era, a future-proof zkEVM network helping to scale the Ethereum blockchain.Other than the KuCoin, iZUMi has also struck key partnerships with MEXC Global, Bybit, Woo Network, and BitDAO. iZUMi also has a security partnership with auditing platform secure3io.Building a strong platform amid the network pillars could inform long term demand for IZI and aid its price.The post iZUMi Finance price: profit deals dump IZI after KuCoin listing appeared first on CoinJournal.

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As the play-to-earn (P2E) space continues to expand, many are looking to invest in crypto projects with a strong chance of capitalizing on the industry’s growth. One such project is Metacade, an up-and-comer that recently completed its sell-out presale raising $16.4 million. MCADE investors are now looking forward to the project being listed on top crypto exchanges.In this article, you’ll learn what Metacade is, why it’s attracted so much investment, and where experts think the MCADE token could end by late 2023. What is Metacade (MCADE)?<a href="https://metacade.co/en?utm_source=media&utm_medium=artc&utm_campaign=coinjournal&utm_term=internal&utm_content=53">Metacade</a> is a rising star in the GameFi space, providing an all-in-one community hub for P2E gamers. Its goal is to bring gamers, developers, and crypto enthusiasts together in a vibrant ecosystem, with the platform owned and operated by the community. Metacade offers its users a wide range of features designed to enhance the P2E gaming experience, like sub-forums for discussing individual games, real-time chat, and spaces for reading the hottest GameFi alpha. At the heart of Metacade is its native token, MCADE, which will serve as a utility and governance token within the platform. This token enables users to experience Metacade’s pay-to-play virtual arcade, vote on Metacade’s future, and earn rewards for contributing reviews, tips, and other helpful content to the community.Other features, like a job board, a decentralized funding scheme known as Metagrants, and regularly held gaming tournaments, have caused considerable buzz amongst the crypto community. The project’s $16.4 million presale was a sell-out success, with the MCADE token being listed for sale on Uniswap, soon followed by important listings on <a href="https://coinmarketcap.com/currencies/metacade/">CoinMarketCap</a>, Bitmart, and <a href="https://www.coingecko.com/en/coins/metacade/usd">CoinGecko</a>. Those invested in MCADE are excited about its upcoming listing on major crypto exchange MEXC in May, as well.What You Need to Know About Metacade (MCADE)With Metacade gearing up for listings on top crypto exchanges, it’s essential to understand what sets this platform apart from the competition and why it’s attracted so much attention from the P2E community.One of the most significant factors is the <a href="https://metacade.co/en?utm_source=media&utm_medium=artc&utm_campaign=coinjournal&utm_term=internal&utm_content=53">Metagrant</a> program, a potential game-changer for the P2E industry. The scheme offers funding to game developers earning the most votes from the community for their proposals, with the winning game added to Metacade’s virtual arcade. This decentralized approach allows the community to shape the future of P2E gaming directly, creating a grassroots fanbase for new titles and likely attracting thousands of players onto the platform.Metacade’s emphasis on community involvement and engagement makes it stand out in the crowded GameFi space. Metacade intends to give MCADE token holders the right to have their say in the platform’s direction through its decentralized autonomous organization (DAO), expected in 2024. Through the DAO and Metagrant program, Metacade ensures that its user base remains actively invested in both the platform’s success and the longevity of P2E gaming. In addition to its community-driven initiatives, Metacade is committed to helping players boost their P2E income. Not only does this mean offering the hottest GameFi alpha being shared by top players, but also includes a job and gig board. Here, users can find work in the Web3 and gaming industries and participate in casual game testing using Metacade’s native testing environment in return for MCADE tokens.Finally, Metacade’s upcoming listings on top crypto exchanges will undoubtedly increase its visibility and accessibility, drawing even more interest from those investing in the lucrative GameFi sector. This increased exposure will likely lead to further growth and…

When uncertainty hits the financial sector, the housing market is rarely far behind, causing nervousness among investment property enthusiasts. As the global banking crisis threatens to deepen, investment property experts are beginning to look to diversify their portfolios to protect their money from market fluctuations in real estate.One token that looks like a perfect fit for investors seeking to move funds away from the property market is AltSignals’ new ASI coin which has just launched its presale event. Here’s why ASI could record huge gains this year while investment property fans move away from the real estate market.AltSignals: New native ASI token has a bright future<a href="https://token.altsignals.io/?utm_source=media&utm_medium=artc&utm_campaign=coinjournal&utm_term=internal_investmentopportunity&utm_content=as_presale%20_1&utm_id=173">AltSignals</a> launched its online trading platform in 2017 and has quickly grown into one of the most trusted suppliers of high-quality trading signals. Over the past five years, the AltSignals community has grown to more than 50,000 members, of which 1,400 are VIP members, all of whom rely on the accurate and highly-informed trading signals powered by AltSignals’ pioneering AltAlgo™ trading indicator tool.The release of the ASI token is designed to support the implementation of a new AI-powered trading stack called ActualizeAI, which will augment the existing AltAlgo™ outputs with cutting-edge AI capability. This innovation is designed to turbocharge AltSignals’ outputs, taking them to unprecedented accuracy and moving the platform to the forefront of the AI/blockchain revolution.News of the ASI ICO has captured the imagination of AltSignals’ large existing community alongside interested onlookers in the investment community. Some interested parties could be investment property enthusiasts looking to protect their funds as real estate markets record growing uncertainty.What is AltSignals?AltSignals is among the most trusted providers of successful and accurate trading signals. This is illustrated by the platform gaining an average 4.9/5 rating on Trustpilot, courtesy of almost 500 positive reviews, and a success rate on calling Bitcoin (BTC) and Ethereum (ETH) trades of more than 70%.Alongside daily crypto trades, AltSignals provides valuable signals on various other trades, including Forex, CFD, traditional share trades, and Binance futures. And in 19 out of 32 months, Binance Futures holders made 10x gains on their portfolio.This success has been driven by AltAlgo™ and is set to reach new levels with the development of the ActualizeAI trading stack, which will apply the best AI technologies to outputs, driving improvements in accuracy and helping the community maximize the profitability of their decision-making.Machine learning will soon enable rules-based logic to be applied to outputs, which benefit from regressive pattern recognition that understands how markets operate. This learning cycle is quickened by natural learning processing (NLP) before predictive modeling applies historical data trends. These trends, which will improve as more data is available over time, will work with reinforcement learning to allow ActualizeAI to provide accurate predictions and balance the risk/reward ratio on all trades.How will ASI token work?The release of the ASI token is timed to coincide with the development and testing of ActualizeAI while simultaneously underpinning AltSignals’ entire ecosystem. Coin holders will gain immediate access to ActualizeAI’s trading stack once it’s released, with access managed on two different levels. Token holders with more than 50,000 coins will be granted lifetime membership, while those with fewer tokens gain access for one year.In addition, ASI coin holders will unlock several other perks and benefits through membership in the exclusive AI Members Club. For example, club membership unlocks entry into regular online trading tournaments and access to some of the most exciting and potentially lucrative…

Key takeawaysSpace and Time’s beta version of data warehouse is now live.The platform seeks to allow developers to connect verifiable data and computation to applications, smart contracts and large language models.Space and Time come pre-loaded with blockchain data indexed from major blockchains.Data warehouse’s beta version goes liveSpace and Time, a decentralised data platform, has announced today, April 26th, that the beta version of its data warehouse and developer suite is now live.In a press release shared with Coinjournal, Space and Time said it allows developers to leverage provable computation against on-chain and off-chain data to power dapps, smart contracts and verifiable AI models. AIs are gaining waves in the business world at the moment and the Space and Time data warehouse aims to ensure that AI models are trained on accurate, verifiable, tamperproof data.Interested developers can sign up through this link: https://www.spaceandtime.io/access-beta to participate in the Space and Time beta version.Space and Time is a decentralised hybrid (HTAP) data warehouse that powers low-latency transactional queries and scalable analytics in a single cluster. The platform has developed a novel zero-knowledge proof called Proof of SQL that allows developers to prove that both the query and the data are verifiably tamperproof. Space and Time is pre-loaded with blockchain dataThe team revealed that its solution is pre-loaded with blockchain data indexed from major chains, decoded and provided for free. The Space and Time data warehouse also comes with pre-built APIs for SQL operations, blockchain data, Kafka streaming and security, as well as a Tamperproof Python service for easily extracting, transforming and loading data or running complex computations.While commenting on this latest cryptocurrency news, Nate Holiday, CEO and Co-founder of Space and Time, said;“We are thrilled to open the Space and Time data warehouse and suite of data services to developers everywhere. Space and Time is enabling a new era of data verifiability. As smart contracts and AI is increasingly integrated into business processes, Space and Time aims to ensure that they’re connected to and trained on verifiable data and computation.”In addition to this, Space and Time has a dApp, which provides a user-friendly interface for interacting with on-chain and off-chain data.John Kanan, Senior Partner at Bain & Company, said;“AI is shaping the future of business operations in an unprecedented way. As we move further into the age of AI, enterprises need to develop a focused strategy for leveraging its benefits. The assurance that AI is being trained on verifiable data and computation should instill confidence in enterprises seeking to incorporate it into critical business processes.”Space and Time said it would be showcasing its newly launched data warehouse at this year’s Consensus conference in a live demo with Shrapnel, the highly anticipated blockchain-enabled AAA first-person shooter game. Space and Time is a Web3-native decentralized data warehouse that joins tamperproof on-chain and off-chain data to deliver enterprise use cases to smart contracts. The post Space and Time announces the beta launch of data warehouse appeared first on CoinJournal.

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<strong>Los Angeles, USA, April 26th, 2023, Chainwire</strong>Today, <a href="https://diamondapp.com/posts/873df8bb2f8ebf3c79ab3796e420bbd2fe5aeee26cd6f16f6720ad99e9acf5a8">an exciting announcement</a> was made on <a href="https://deso.com">decentralized social</a> app <a href="https://diamondapp.com">Diamond</a> that Bitclout 2.0, the highly-anticipated follow-up to 2021’s viral sensation that took the crypto world by storm, has been revealed by the infamous <a href="https://diamondapp.com/u/diamondhands?feedTab=Hot">@diamondhands</a>.Bitclout 2.0 aims to build upon the success of the original by introducing several new products and features, effectively turning reputation into an asset class on par with what NFTs are today.BitClout 2.0 is expected to launch with a sophisticated airdrop after the DeSo blockchain’s transition to its new <a href="https://revolution.deso.com">Revolution Proof of Stake</a> consensus mechanism is complete. The white paper for BitClout 2.0 can be accessed at <a href="https://bitclout2.deso.com">bitclout2.deso.com</a>, and the password can be obtained by sending a DM to <a href="https://diamondapp.com/u/bitclout">@bitclout</a> on any DeSo app like <a href="https://diamondapp.com">Diamond</a> or <a href="https://chat.deso.com">DeSo Chat Protocol</a>.Bootstrapping A Stock Market for PeopleOne of the most groundbreaking new products BitClout 2.0 introduces is Creator Coins V2, a reimagined version of the original trading product that sparked thousands of celebrities and influencers to join the platform.Creator Coins are a new type of asset class introduced by <a href="https://docs.bitclout.com/">BitClout 1.0</a> that are tied to the reputation of an individual rather than to a company or commodity, and Creator Coins allow creators, celebrities, influencers, and everyday users to monetize their work in ways never before possible in web2.Since Creator Coins track the reputation of an individual, if Elon Musk successfully lands the first person on Mars or alternatively go bankrupt, it will affect the price of his Creator Coin.Creator Coins V2 are fully backward compatible with V1, allowing users to transfer over seamlessly, and will be tradeable on DeSo DEX, the world’s fastest on-chain order-book exchange (showcased by <a href="https://openfund.com/trade">Openfund</a>).Trading activity on BitClout 2.0 will be incentivized with a new $BITCLOUT token, allowing people to accrue fees through Creator Coin V2 trading activity.Bitclout 2.0 will reward early adopters through a sophisticated and viral airdrop scheme that takes inspiration from both BitClout 1.0 and from NFT marketplace <a href="https://blur.io">Blur</a>. BitClout 2.0’s airdrop mechanics will not only drive trading liquidity but also “content liquidity” by compensating the most active creators on the platform.Creators who post regularly and engage the community will also earn $BITCLOUT tokens through airdrops, adding an innovative new incentive structure for creators never seen on other platforms.People interested in participating in the $BITCLOUT airdrop can start familiarizing themselves with DeSo apps like <a href="https://diamondapp.com">Diamond</a>, <a href="https://openfund.com">Openfund</a>, <a href="https://desofy.app">Desofy</a>, or <a href="https://desocialworld.com">DeSocialWorld</a>, and many more <a href="https://wallet.deso.com/explore">listed on deso.com</a>, before the launch.BitClout 2.0 will be built on the <a href="https://deso.com">Decentralized Social Blockchain</a>. According to the <a href="https://bitclout2.deso.com">BitClout 2.0 white paper</a>, “DeSo is the only blockchain that can support the storage and indexing requirements needed for a decentralized social platform like BitClout 2.0.” This is thanks to DeSo’s vastly-superior content storage costs, which make it finally feasible for apps to extend beyond DeFi to storage-intensive social applications, and much more.<a href="https://coinjournal.net/wp-content/uploads/2023/04/111_1682512966mnFz73Wfj9.jpg">Media</a>The…

H.C. Wainwright analyst initiates Coinbase with a “buy” rating.Mike Colonnese explained his bullish view in a research note.Coinbase stock has lost about 35% in just over a month.A 35% pullback in Coinbase Global Inc over the past month is “overdone” and a recovery is coming soon, says Mike Colonnese – an H.C. Wainwright analyst.Buy Coinbase stock for a 35% returnOn Wednesday, Colonnese recommended that investors buy shares of the world’s second-largest and one of the best cryptocurrency exchange as they had upside to $75 – a 35% premium on its current price.The analyst is bullish on Coinbase stock for one simple reason that rewards currently outweigh the risks.Coinbase is uniquely positioned to benefit from large and rapidly growing crypto economy given its trusted brand, easy to use products, and focus on compliance and regulation.Coinbase has a footprint in 100 countries and is serving about 8.3 million active users, which, Colonnese wrote, is scale enough for it to expand its market share this year.Why else is he bullish on Coinbase stock?Coinbase is expected to report its Q1 results next week. Consensus is for it to lose $1.36 a share this quarter versus $1.98 per share a year ago.The H.C. Wainwright analyst is convinced that the crypto winter is over and the subsequent increase in trading volume will be a catalyst for the company’s operating performance. His research note added:COIN is a scarce asset, as the only publicly listed crypto native company in the U.S. with a market cap >$10B, which means competition for investor capital is extremely limited.Earlier this week, Coinbase sued the Securities and Exchange Commission after waiting for months to get an answer on its July 2022 petition. Regulatory clarity in the future will also help drive the Coinbase stock up, Colonnese concluded.The post Coinbase stock outlook: H.C. Wainwright analyst sees upside to $75 appeared first on CoinJournal.

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Solana users will soon be able to interact with the network through a ChatGPT plugin.Users can use the plugin to check wallet balances, transfer Solana-native tokens, and buy NFTs.Developers are also encouraged to test using the plugin to retrieve on-chain data.At press time, SOL price was up 7.33% 34 hours after Solana announced through a tweet that “Solana Labs has created an open-source reference implementation for a ChatGPT plugin that lets users interact with the @solana network directly from ChatGPT.”(1/2) Solana Labs has created an open-source reference implementation for a ChatGPT plugin that lets users interact with the @solana network directly from ChatGPT.Users will be able to check wallet balances, transfer tokens, and purchase NFTs once ChatGPT plugins are available. pic.twitter.com/08z1IX76zJ— Solana Labs (@solanalabs) April 25, 2023The news comes two weeks after Solana unveiled yet another achievement, the crypto-first ‘Saga’ android phone, which will be available for customers to purchase from May 8. Solana Network has seen increased activity over the recent past causing the price of its native token SOL to rise by more than 11% in the last 30 days.Solana ChatGPT plugin useThe open-source reference implementation for a ChatGPT plugin marks Solana’s entry into the world of artificial intelligence (AI). Announcing the plugin, Solana Labs noted that it would allow users to interact with the Solana network directly from OpenAI’s ChatGPT.Since its launch in November 2022, ChatGPT has quickly attracted global popularity mainly because of its AI-powered chatbot, which generates sophisticated responses to any request. In the wake of the ChatGPT, several other companies have started leveraging AI technology including players in the crypto sector as they seek to enhance user experience.Besides allowing users to check wallet balances, transfer Solana-native tokens, and buy non-fungible tokens (NFTs), the ChatGPT plugin will also allow developers to build AI-powered applications on the Solana network.Grants to AI developersSolana Foundation also announced that it will be allocating grants to its ecosystem teams building AI tools on the Solana blockchain.According to the foundation, the teams or individuals will be able to seek from $5, 000 to $25,000 grants from a $1 million fund.The post SOL price surging after Solana ChatGPT plugin unveiled appeared first on CoinJournal.

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Merlin is an Ethereum-based decentralized exchange (DEX) which uses zero-knowledge sync (zkSync).The DEX has lost more than $1.8 million in a liquidity pool hack.The hack took place barely hours after smart contract security firm CertiK audited the DEX’s code.Ethereum-based decentralized exchange (DEX) Merlin woke up to bad news on Wednesday morning after a hacker(s) drained the DEX $1.8 million in a liquidity pool hack. The hack happened during a public sale of Merlin’s native token MAGE.The hacker(s) stole several cryptocurrency assets including Ethereum (ETH), USD Coin (USDC), and other illiquid tokens.CertiK had audited Merlin’s codeA few hours after the hack, security firm CertiK tweeted saying that it was investigating the incident to understand its impact on the community. It also said that its initial findings suggest that it could have resulted from an issue with a private key management meaning it was hack and not an exploit as widely thought.CertiK conducted an audit of Merlin’s code on April 24, 2023, and recommended that Merlin improves its “centralized roles to the decentralized mechanism like multi-signature wallets to enhance security practices.” It also asked Merlin to implement a timelock feature with a latency of at least 48 hours to avoid a single point of key management.CertiK also promised to collaborate with appropriate authorities in case anything came up.CertiK and zkSync Era to compensate lost assetsWhile urging the hacker, who CertiK believes is a rogue developer, to return 80% of the stolen funds, the security firm offered a 20% white hat bounty to the hacker.In a statement to a renowned media outlet on April 26, CertiK reiterated it is investigating the exit scam and has also enlisted the remaining Merlin team to initiate the compensation plan. The firm said:“CertiK is exploring a community compensation plan to cover the ~$2M of user funds lost in the Merlin DEX rug pull. Initial investigations indicate that the rogue developers are based in Europe, and we are working with law enforcement to track them down.”CertiK also noted that private key privileges are “committed to assisting impacted users” notwithstanding that they are outside the scope of a smart contract audit.The post CertiK and zkSync Era plan to compensate Merlin hack victims appeared first on CoinJournal.

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