In A Nutshell Ethereum’s layer 2 blockchain Eclipse has recently been at the center of a controversy as its founder and CEO, Neel Somani, steps back from his public role in the wake of sexual misconduct allegations. Somani has denied the allegations, stating they are false and that he intends to clear his name and…
In A Nutshell The Solana blockchain has witnessed a significant increase in the number of NFT traders, with figures soaring by 111%. However, this upsurge contrasts with a downturn in NFT sales volume, which dipped by 16% during the same period. This anomaly is attributed to the depreciating value of Solana’s native token, SOL, which…
In A Nutshell Solana (SOL), a prominent cryptocurrency, recently encountered a significant resistance level at $160, compelling it to retract. This event raises speculation about whether SOL could potentially decrease to $120. Drawing from an analysis, this piece delves into the current consolidation phase, examining support levels, trading volume, and other critical indicators like the…
In A Nutshell Amidst fluctuating market conditions, a significant movement within the Bitcoin ecosystem has caught the attention of enthusiasts and investors alike. Between May 7th and 8th, 2024, a select group of Bitcoin whales, holding between 1,000 and 10,000 BTC, have collectively added approximately 15,121 BTC to their holdings, amounting to an estimated value…
In A Nutshell Despite facing a significant 22% decline in April, Polkadot (DOT) showcased a remarkable increase in network activity, achieving a new all-time high (ATH) in monthly active accounts. This surge was primarily driven by contributions from parachains like Moonbeam. However, with the onset of May, a shift in momentum was observed, as DOT’s…
In A Nutshell Recent analysis indicates a notable trend among Dogecoin (DOGE) holders, particularly the large addresses, which have increased their stakes by approximately 1%. This accumulation comes amid a slight price increase for DOGE, stirring discussions on whether this could signal a bullish sentiment for the meme-inspired cryptocurrency. This article delves into the significance…
In A Nutshell The memecoin market has experienced an unprecedented boom in 2024, with its market capitalization reaching $50.8 billion and returns surging over 1300% on average for top tokens. Despite Bitcoin’s significant milestones, including the approval of a spot Exchange Traded Fund (ETF) and its halving event, the explosive growth and interest in memecoins…
In A Nutshell The cryptocurrency XRP has recently become a hot topic of discussion, partly due to the SEC’s statement on Ripple Lab’s planned stablecoin. Despite a rise in social metrics indicating increased popularity, XRP’s price action has lagged, prompting concerns about its future direction. With a high buying pressure but bearish indicators, the next…
In A Nutshell The co-founder of Tether, William Quigley, has positioned the tokenization of fiat currencies as a paramount innovation in the financial sector, second only to the invention of fiat money itself. During a discussion at the FT Crypto and Digital Assets Summit, Quigley shared insights on the potential of tokenized fiat to revolutionize…
In A Nutshell A recent investigation by blockchain security firm Zellic has uncovered two significant vulnerabilities in a fork of the Gains Network leveraged trading protocol. These flaws could have allowed traders to secure a 900% profit on every trade, irrespective of market conditions. This discovery raises concerns about the security of forked protocols in…