Neko 🐯
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"Audentes fortuna iuvat. Fortune favors the bold"

Professional Trader, Analyst and Investor on Crypto Market

www.instagram.com/orineko.io

Contact @hana_neko
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Forwarded from VVIP Crypto —Neko
Binance Futures, ByBit USDT, KuCoin Futures
#MAVIA/USDT Take-Profit target 2
Profit: 127.5727% 📈
Period: 5 Days 1 Hours 51 Minutes
EtherFi Inks $500M Restaking Deal With RedStone Oracles

RedStone Oracles, which provides data feeds for blockchains, is among a growing field of "actively validated services" waiting to tap into EigenLayer, the buzzy new «restaking» protocol that lets upstart networks borrow Ethereum's security. On Friday, RedStone announced that it had sealed a $500 million deal with Ether.Fi, the largest liquid restaking service on EigenLayer, to help power its oracle protocol.

"A subset of over 20,000 node operators from Ether.fi will manage RedStone's Actively Validated Service and employ Etherfi’s native liquid restaking token - eETH," the companies said in a joint statement, "The restaked Ether will serve as a safeguard against both liveness failures and crypto-economic attacks within the network of RedStone's node providers".

A similar agreement was announced in March, with EtherFi committing $600 million worth of its stake to Omni, an AVS network designed to help layer 2 rollups communicate with each other.

EigenLayer's has racked up over $15 billion in deposits in total, but the version live on Ethereum's mainnet is still lacking several core features.

📈 Neko Forecasting $Ether.fi for short-term correction and bounce from current marked demand zone for buy position.

#NekoChart @OriNeko
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💩 Ethereum’s L2 boost in scalability surpassed 1.000% since Dencun update

The "Blobs" introduced in Ethereum's recent Dencun update made layer-2 (L2) blockchains boost the network scalability by over 11 times, according to a report by Brazilian digital bank Inter. Blobs are spaces within Ethereum blocks dedicated to receiving data from L2 chains, such as Arbitrum, Optimism, and Base.

The report mentions a significant growth in Base's transactions per second (TPS) count, which reached 300 to 400 TPS since Dencun. On average, L2 networks registered an average of 156.12 TPS since March 13, which is over 11 times more than Ethereum's 14.35 average TPS in the same period.

However, Base was the only Ethereum L2 chain that registered significant growth in trading activity since Dencun, with its dominance in weekly trading volume jumping from 1.47% to 6.45%.

The Dencun update effectively acts as a "subsidy policy" for block space, with a unique fee mechanism tailored to the needs of second-layer solutions. This strategic move has enabled these networks to process a higher number of transactions at reduced costs, thereby enhancing their scalability, diminishing transaction expenses, and attracting new users.

While the Dencun update is a leap forward for Ethereum, its full economic impact remains to be seen, as highlighted by Inter analysts. Future updates are already in the pipeline, aiming to further refine the network's efficiency and security.

#NekoNews @OriNeko
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🐯 Learning With Neko Week 31.
Hola, Necats, happy weekend today we'll talk about Merlin Chain

What is Merlin Chain ?
Merlin chain is a layer-2 technology built on the Bitcoin blockchain to solve its scalability challenges. It aims to power the Bitcoin application system for continued blockchain innovation. Merlin chain integrates a zero-knowledge rollup (known as ZK-Rollup), a decentralized oracle network, and on-chain fraud proofs into the Bitcoin blockchain. These features enable innovation in the Bitcoin ecosystem, compressing ample transaction proofs into batches to reduce congestion and improve transaction speed. It also introduces a new method for the Merlin chain to connect easily to the Bitcoin layer-1, thus enabling access to external data sources and execution of smart contracts using a decentralized oracle network and on-chain fraud proofs.

Further, Merlin chain’s unique layer-2 features are also geared towards reducing transaction cost, and improving transaction speed while interacting with Bitcoin blockchain for security. In essence, the Web3 platform is poised to solve the Bitcoin scalability challenges by using a layer-2 solution. This technique aims to build innovations that tap into the Bitcoin ecosystem while maintaining its Web3 outlook.

#NekoLearn @OriNeko
How Does Merlin Chain Work ?

Now, let’s take a look at how Merlin Chain operates.
Merlin Chain scales Bitcoin through zkEVM, an EVM-compatible scaling solution that uses zero-knowledge (ZK) proofs to prove the validity of state changes resulting from “rolling up” and processing transactions. These proofs are created by sequencer nodes, the operators of Merlin Chain’s ZK-rollup.

Besides generating proofs, sequencer nodes are also responsible for bundling a large number of transactions into a smaller, compressed block of data. They then send the batched transaction data and the zero-knowledge proofs to the Bitcoin base layer through an oracle network. All Merlin Chain transactions settle on the base layer, making them immutable, secure, and decentralized.

Merlin Chain’s oracle network consists of nodes that act as a Data Availability Committee (DAC). Their job is to confirm the handling of the transaction data they receive from the sequencer nodes.

That means Merlin Chain requires oracle network nodes to always remain honest. To achieve this, oracle network nodes must stake BTC to participate in the Layer 2 network. Users can challenge the validity of ZK proofs and batched data. If the challenge is successful, the oracle network node that confirmed that round of transactions is penalized for submitting invalid transaction data. The penalty includes losing a fraction of their staked BTC.

ZK-rollups reduce transaction costs by compressing transaction data, which takes up less block space. Also, Merlin Chain speeds up transactions with an average block time of about 1.2 seconds, which is way faster than Bitcoin's ten-minute block time.

#NekoNews @OriNeko
In the last 24 hours, 298,591 traders were liquidated, total liquidations reached $936.66 million

Are you one of them?

This is a lot of money for crypto taxes 🤯

Follow @OriNeko for more crypto updates. Join 📷our Instagram to get free market insights

#Neko101 @OriNeko
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⚡️ About $940M of Positions Liquidated As Bitcoin Dips Below $66K

Over the past 24 hours, Bitcoin has fell by nearly 5%, followed by other cryptocurrencies. The lowest price was just under $65K, while Ethereum reached $3.1K at some point.

Amid the decline, nearly $940 million of positions were liquidated on the leading futures exchanges:

- $398M on Binance;
- $320M on OKX;
- $105M on HTX;
- $63M on Bybit;
- $15M on BitMEX.

Liquidations of long positions significantly outpaced liquidations of long positions:
🟢 $825M (88% Long)
🔴 $113M (12% Short)

#NekoNews @OriNeko
Hedera to Conduct Mainnet Upgrade on April 18th

Hedera will be upgrading its mainnet to version 0.48 on April 18th at 17:00 UTC. Refer to the official tweet by HBAR

📈 Neko Forecasting $HBAR for short-term correction and bounce from current marked demand zone for buy position.

#NekoChart @OriNeko
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As the conflict in the Middle East continues to heat up, earlier this morning Iran attacked Israel, causing the crypto market to plummet just minutes after the issue came out to the public.

Are you still holding or adding to buy on the dip?

Follow @OriNeko for more crypto updates. Join 📷our Instagram to get free market insights

#Neko101 @OriNeko
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Hey everyone. happy weekend, I've got two options for us to talk about 2 Chainz on Layer-2 Eth. Pick the one you're interested in discussing.
Final Results
61%
Metis
39%
Mantle
Neko 🐯
Hey everyone. happy weekend, I've got two options for us to talk about 2 Chainz on Layer-2 Eth. Pick the one you're interested in discussing.
Okay, so according to the voting results, the majority choose Metis, in the next post I will explain about the Metis.
What is Metis?

Metis Andromeda is Ethereum’s Layer-2 (L2) roll-up protocol that offers simple and fast smart contract deployment to a network. It seeks to address the blockchain trilemma– the challenge of simultaneously achieving decentralization, security, and scalability.

Metis aims to help developers improve existing decentralized applications (dApps). In addition, they also provide support for developers who want to develop and introduce new dApps.

This is done by integrating the Decentralized Autonomous Company (DAC) framework in the Layer-2 infrastructure. This will ease the transition for developers and businesses to move from the Web 2.0 ecosystem to the Web 3.0 ecosystem.

#NekoSpotlight @OriNeko
How Does Metis Work?

Metis Andromeda is an L2 with optimistic rollup technology. It rolls up a batch of transactions into one on L2 and sends it back to L1 (Ethereum). However, Metis’ rollup model has a unique hybrid setup. It allows Metis to reduce fees while maintaining fast confirmation times significantly.

One factor that makes this possible is using InterPlanetary File System (IPFS), a decentralized storage space with peer-to-peer architecture. So, instead of storing and processing data off-chain in a centralized location, Metis stores it spread across various nodes in the IPFS network.

In this way, data processing can be more effective while minimizing the risk of data loss or being hacked. Combined with rollup technology, Metis can reduce transaction fees to 100x lower than the Ethereum Mainnet, making it the lowest-cost L2 network on Ethereum.

Unlike other L2 platforms with EVM-compatible processing engines, Metis’ engine -Metis Virtual Machine- is EVM-equivalent. This is an advantage of Metis because MVM is better than EVM-compatible.

Regarding security, structure, and programming language (Solidity), MVM is equivalent to EVM. Thus, the development team can easily deploy native Ethereum applications to Metis with slight programming code modification.

#NekoSpotlight @OriNeko
Conclusion

Metis Andromeda is the lowest-fee Layer-2 roll-up protocol on Ethereum. Thanks to implementing optimistic roll-up technology and IPFS, Metis can reduce transaction fees up to 100x lower than Ethereum. In addition to scalability solutions through roll-up technology, Metis has features such as Decentralized Autonomous Company (DAC), Metis Bridge, and MVM, an EVM-equivalent engine.

Metis’ native token, METIS, is used for transaction fees and staking. METIS has a maximum supply of 10 million tokens. Committed to growing its ecosystem adoption, Metis has announced a token distribution similar to the successful Avalanche incentive program.

#NekoSpotlight @OriNeko
Top 7 Token Unlocks of the Upcoming Week

The following tokens with the largest unlock amount will be unlocked next week:

Axie Infinity - $115.32M
Arbitrum - $103.82M
StarkNet - $90.09M
Immutable - $71.69M
Sei - $65.90M
Uniswap - $62.83M
Manta Network - $60.05M

@OriNeko
Bitcoin recently dropped from $71k to $61K.

If the correction persists, keep an eye on key metrics like traders' unrealized profit margins and the realized price.

These have signaled weakness since late March.

#NekoNews @OriNeko
SSV Network to Deprecate Goerli Testnet on April 18th

SSV Network has announced that it will be discontinuing support for the Goerli testnet on April 18th. This move is part of the transition to the Holesky testnet. Refer to the official tweet by SSV

📈 Neko Forecasting $SSV for short-term correction and bounce from current marked demand zone for buy position.

#NekoChart @OriNeko
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PAXG hit new high on Middle East tensions, raising questions about Bitcoin

A gold-backed digital asset from Paxos spiked to an all-time high over the weekend amid a backdrop of rising tensions in the Middle East, leading to some questioning Bitcoin's value as a geopolitical hedge. The PAXG gold-backed crypto token hit $2,855 on April 13 as Bitcoin prices conversely tanked $5,000 in a matter of hours from over $67,500 to bottom out at around $62,700 in a 7.5% daily rout, according to data from CoinGecko.

The PAXG token could not sustain momentum, however, and retreated to its previous spot gold-linked price level of around $2,376 at the time of writing.The asset has made slow and steady progress since the beginning of March, rising 20% in tandem with prices of the underlying precious yellow metal, which hit a peak of $2,400 per ounce last week.

#NekoNews @OriNeko
Can't believe it's been a year since PEPE launched on the ethereum blockchain! The feeling is still as if PEPE had just entered the crypto market a few days ago.

Happy birthday PEPE!☀️☀️☀️

Follow @OriNeko for more crypto updates. Join 📷our Instagram to get free market insights

#Neko101 @OriNeko
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