Binance Futures, ByBit USDT, KuCoin Futures, OKX Futures
#OM/USDT Take-Profit target 2 ✅
Profit: 112.7547% 📈
Period: 16 Hours 13 Minutes ⏰

Generation Z and millennials choose crypto over stocks

A new survey suggests that young Americans are more likely to own cryptocurrencies than stocks, signaling a shift in financial assets and investment strategies from those preferred by older generations.

The study, which was conducted between Oct. 16 and Oct. 19 and published by the Policygenius Financial Planning Survey on April 9, featured 4,063 adult respondents in the United States. The survey revealed that 20% of Gen Zers (ages 18-26) and 22% of millennials (ages 27 to 42) are much more likely to invest in alternative assets like cryptocurrencies and nonfungible tokens (NFTs) compared to their older counterparts.The survey also revealed that 18% of Gen Z respondents said they own stocks, against 28% of Gen Xers and 45% of Baby Boomers.

#NekoNews @OriNeko

Australian regulators bust unlicensed blockchain mining companies

Hundreds of Australian investors are more than A$160 million out of pocket after two cryptocurrency mining companies, NGS Crypto Pty Ltd, NGS Digital Pty Ltd and NGS Group Ltd , collapsed into liquidation.

The NGS companies have been accused of targeting local investors to establish self-managed superannuation funds and then convert the funds into cryptocurrency for investment in blockchain mining packages with promised fixed-rate returns.

The financial watchdog expressed concern over the potential dissipation of digital assets invested in blockchain mining and successfully petitioned the Federal Court to appoint liquidators specifically for NGS companies’ digital currency holdings.

#NekoNews @OriNeko

Binance Futures, ByBit USDT, KuCoin Futures
#MAVIA/USDT Take-Profit target 2 ✅
Profit: 127.5727% 📈
Period: 5 Days 1 Hours 51 Minutes ⏰

🐯 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

⚡️ 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