Important News of the Week

🔵 Sentient Labs, supported by the co-founder of Polygon, raised $85 million to develop an open artificial intelligence platform. This step aims to democratize AI and enhance AGI (artificial general intelligence) capabilities​.

🔵 Ripple, the developer of XRP Ledger, announced the launch of a new stablecoin that will compete with Tether and USDC. This step is aimed at expanding the Ripple ecosystem and increasing its market share in stablecoins​.

🔵 Ellipsis Labs, the developer of the decentralized exchange Phoenix based on Solana, raised $20 million in a Series A round led by Paradigm. The funds will be directed towards improving the functionality and security of the platform​.

🔵 The transaction volume on decentralized applications (dApp) on the Polygon platform increased by 83%, leading to increased interest in the MATIC token. Despite this, the price of MATIC faced pressure from sellers​.

🔵 According to CryptoQuant, Bitcoin reserves on cryptocurrency exchanges have reached a multi-year low, indicating a growing interest in storing Bitcoin off exchanges. This could impact the supply of Bitcoin on the market and potentially lead to a price increase​.

CryptoFam
#Blockchain #cryptofam

Overview of Cryptocurrency Futures Trading Volumes ©️

The image presents data on the 24-hour and weekly trading volumes for various cryptocurrency platforms and futures.

Binance Futures leads with $52.20 billion in 24-hour volume and $346.85 billion in weekly volume. Poloniex Futures is in second place with $29.75 billion in 24-hour volume and $178.52 billion in weekly volume.

OKX Futures ranks third with $22.00 billion in 24-hour volume and $155.82 billion in weekly volume. Bybit Futures and Binance show $18.84 billion and $12.19 billion in 24-hour volume, respectively.

MEXC Futures also showed a significant weekly trading volume of $21.77 billion.

CryptoFam
#Crypto #cryptofam

Spot or Futures: What to Choose

Spot trading and futures trading each have their own characteristics, advantages, and risks.

Spot Market

🔵 Simplicity: Buying and selling cryptocurrencies occur instantly at the current market price.
🔵 Long-term investments: Suitable for those who want to hold assets for a long time.
🔵 Low risk: Less risky compared to futures as there are no margin positions.

Futures

🔵 Hedging: Allows hedging risks by locking in the purchase or sale price of an asset in the future.
🔵 Speculation: The possibility of profit on both rising and falling prices.
🔵 High risk: Using leverage can lead to significant losses.

Choosing between spot and futures depends on your goals, risk level, and experience. Beginners are recommended to start with spot trading, while experienced traders can use futures for hedging and speculation.

CryptoFam
#Spot #Futures #cryptofam

Overview of Cryptocurrency Futures Trading Volumes ©️

The image presents data on the 24-hour and weekly trading volumes for various cryptocurrency platforms and futures.

Binance Futures leads with $70.65 billion in 24-hour volume and $386.91 billion in weekly volume. OKX Futures is in second place with $31.14 billion in 24-hour volume and $172.96 billion in weekly volume.

Poloniex Futures ranks third with $29.75 billion in 24-hour volume and $178.52 billion in weekly volume. Bybit Futures and Binance show $25.56 billion and $17.20 billion in 24-hour volume, respectively.

MEXC Futures also showed a significant weekly trading volume of $23.36 billion.

CryptoFam
#Crypto #cryptofam

What is an Airdrop?

An airdrop is the free distribution of cryptocurrency tokens to users. Companies usually use airdrops to promote new projects or increase their audience.

You can receive tokens by completing simple tasks such as subscribing to the project's social networks or reposting publications.

Advantages of airdrops:

🔵 Free tokens. Receive cryptocurrency without investment.
🔵 Project support. Help new projects with promotion.
🔵 Simplicity. Participation often requires minimal actions.

How to participate:

🔵 Register on the project's platform.
🔵 Complete tasks.
🔵 Receive tokens in your wallet.

Airdrops are a great way to get to know new cryptocurrency projects and receive free tokens!

CryptoFam
#Airdrop #cryptofam

Overview of Cryptocurrency Futures Trading Volumes ©️

The image presents data on the 24-hour and weekly trading volumes for various cryptocurrency platforms and futures.

Binance Futures leads with $46.88 billion in 24-hour volume and $431.54 billion in weekly volume. Poloniex Futures is in second place with $29.75 billion in 24-hour volume and $208.28 billion in weekly volume.

OKX Futures ranks third with $20.51 billion in 24-hour volume and $192.43 billion in weekly volume. Bybit Futures and Binance show $17.31 billion and $12.08 billion in 24-hour volume, respectively.

MEXC Futures also showed a significant weekly trading volume of $27.20 billion.

CryptoFam
#Crypto #cryptofam

Cryptocurrency Wallets

Cryptocurrency wallets are digital tools for storing, sending, and receiving cryptocurrencies. They store private and public keys needed to interact with the blockchain.

Types of Wallets:

Hot Wallets:

🔵 Connected to the internet, used for everyday transactions.
🔵 Online wallets, mobile and desktop wallets.
🔵 Convenient and fast access.
🔵 Vulnerable to hacking attacks.

Cold Wallets:

🔵 Not connected to the internet, providing a high level of security.
🔵 Hardware wallets, paper wallets.
🔵 High protection from hacks and theft.
🔵 Less convenient for frequent transactions.

Why are cryptocurrency wallets needed?

🔵 Wallets protect cryptocurrency from theft and loss.
🔵 Allow sending and receiving cryptocurrency.
🔵 Provide full control over your assets without third-party involvement.

Cryptocurrency wallets are essential tools for managing and protecting digital assets. The choice between hot and cold wallets depends on your security and convenience needs.

CryptoFam
#Crypto #cryptofam