mylitecryptogametech

Key takeaways DeFi protocol Aave (AAVE) saw an 18% drop in TVL on Friday. Investigations revealed that the drop was linked to the withdrawal of $4.2 billion worth of tokens by Tron’s Justin Sun. Sun’s move was likely due to concerns arising from the recent Cream Finance hack according to Colin Wu. On Friday, Ethereum based lending and borrowing DeFi protocol Aave (AAVE) saw the total value locked (TVL) on the platform drop about 18%. On investigation, it was discovered that the withdrawals were made by wallets connected to the founder of TRON and CEO of BitTorrent, Justin Sun who withdrew around $4.2 billion worth of ETH, WBTC, and Stablecoins from Aave’s lending pools. While the CEO has not commented on the withdrawal leaving the community to speculate on his decision, cryptocurrency journalist Colin Wu has proffered an explanation that seems to have some precision to it. The industry insider said Sun’s move may have been prompted by concerns over the security of the D...

Key takeaways Bitcoin’s surge in October has warranted a lot of explanations. The latest from cryptocurrency exchange Kraken is that the surge is due to a “supply shock.” Kraken points to long term holders accumulation, growing on-chain activity and miner accumulation to be behind the supply shock.  September, to the expectations of seasoned market observers, was extremely bearish for the Bitcoin market . This year was no exception for Bitcoin history of bearish September as the month saw Bitcoin open around $46,000, reach a high of over $52,000, and dip to below $40,000. It eventually closed the month around $43,000 with returns down 7.34%. In October however, the market took off substantially with the return of very bullish sentiments. While prices are currently down as Bitcoin is trading at around $60,500, down 4.79% in the last seven days, the benchmark cryptocurrency has set a new all-time high of $66,936 and is up 39% so far in the month. BTCUSD Chart By TradingVi...

Key takeaways Proponents believe meme coins have played a key role in crypto market bull runs this year. Reasons cited for the trend include the fact that the joke coins have pandered to small investors. The cryptocurrency market has been known to surge and burst in cycles led by various reasons that bring on bullish or bearish trends. In some other cycles, the market surge has been led by trends such as food-themed coins (recall the SushiSwap, and PanCake surges), layer 1 and 2 blockchain launches, DeFi, and NFT market frenzy. For this market cycle, some observers are saying that the trend this year is being led by meme coins. According to one pundit on Twitter, ‘ Taco_eth ,’ market players are bullish on meme coins this year as surges in Dogecoin (DOGE), Safemoon (SAFEMOON), and their likes previously marked the final leg of the bull run. Hence the recent run of Shiba Inu (SHIB) – which was dubbed and has lived up to the title of being “Doge-killer” – is extremely bullish fo...

On October 31st, 2008, Satoshi Nakamoto published the Bitcoin white paper, sparking a series of events that changed the world as we know it. The White Paper contained ingenious propositions and solutions that made it a pacesetter for its time. Since launch, the asset has ballooned to reach a market capitalization of over $1 trillion. Thirteen years ago, Satoshi Nakamoto dropped a document that spawned a trillion-dollar market , offering greater financial inclusion and multiple use cases globally. Years later, we look back at how far Bitcoin has come. The White Paper Satoshi’s whitepaper was titled “Bitcoin: A Peer-to-Peer Electronic Cash System” and was sent to a mailing list of cryptographers on October 31, 2008. Nakamoto’s paper was accompanied by a message saying, “ I’ve been working on a new electronic cash system that’s fully peer-to-peer, with no trusted third party.” The 9-page document explains in depth the solution to prevent double-spend through “honest nodes” that ...

Key takeaways A U.S federal judge has approved a warrant to help recover stolen crypto funds. The warrant directs Huobi Global to freeze a wallet holding around $600,000 of Bitcoin belonging to a Coinbase user that lost around $11.6 million to fraudsters. A U.S. federal judge has intervened in a case brought before it, in which a Coinbase user lost around $11.6 million following an exchange account attack in April. According to a Business Insider update on the matter, the district judge of the United States District Court for the Central District of California, Dolly M. Gee, approved a warrant to recover over $600,000 worth of Bitcoin (about 10.2) from a Huobi Global wallet after investigations revealed the amount held in the wallet as part of the stolen funds. The report noted that the cryptocurrency exchange had agreed to assist the court with recovering the crypto assets.  “ Huobi has agreed to maintain a freeze on the funds pending resolution of the forfeiture action,...

Crypto analysts say Shiba Inu is far from surpassing Dogecoin in terms of price value. His reasoning is that SHIB holders cannot stand the test of time. Shiba Inu proponents retort by remaining bullish. Shiba Inu, the meme coin that the market had written off after its continuous streak of underperformance, is becoming the talk of the meme-coin market , for many reasons. The first and most talked about is the unprecedented surge in SHIB’s price. Post-rallying over 40% in the last week, Shiba Inu hit a new price high, only to drop by 10% shortly after Elon Musk, who had indirectly helped to boost the price of the asset via his tweets, revealed that he held zero SHIB . The market has since begun to drop hot takes on where the asset is headed for, and whether fellow meme-coin Dogecoin will be deposed permanently by this newcomer. Although SHIB holds the 9th spot on the crypto market rankings, it will need to add more than $30 billion to its market valuation in order to go up the c...

Key takeaways TRON founder Justin Sun emerges as one of the biggest ETH holders. Ethereum proponents displeased with the development as Sun has always been a critic of Ethereum. Serial entrepreneur Justin Sun, the founder of cryptocurrency platform TRON, hasn’t always had a smooth run with Vitalik Buterin, the co-founder of Ethereum. In the past, they both have thrown jabs at each other on social media. Back in June, Sun took a jab at the Ethereum network by emphasizing claims that Ethereum’s EIP-1559 upgrade amounted to them trying to be like TRON by burning fees . Ethereans react to Justin Sun’s massive Ether position Seeing how the TRON founder has not been a fan of Ethereum, proponents were perplexed when Sun revealed he holds over 54,000 ETH. By the current market price of Ethereum, his holdings are worth over $233 million. Market participants are however not too pleased with the billionaire’s antics in the market. Sun has once again entered discussions after one pundit...

Bitcoin’s bull market 2nd leg officially ignited. The new development now validates $100,000 in the near term. Bull Market expected to extend into Q1 2022, and send prices as high as $288,000. PlanB, the highly regarded founder of the Bitcoin stock-to-flow model has, in a very recent tweet hinted to the market that the Bitcoin bull rally is far from over. Taking to his surface to warm up the community, he disclosed that the second leg of the Bitcoin rally has taken off. With the second leg in motion, the market is very well positioned to take on the projected $100k-$135k levels , and possibly break through that price before the year runs out. Although Bitcoin’s surge to $66,974 this month had reinforced the bullish sentiments that the bear market was over, BTC will not only need to maintain stability above the new high but also attempt soaring past $80,000 next month, in order to preserve the positive sentiments. PlanB first cited the 2nd leg rally earlier this month. The Bit...

Play-to-learn-earn game The Monopolist is bringing the century-old board game Monopoly to the blockchain. The game seamlessly integrates features for which the popular game is known such as rolling dice, buying land, construction of the real estate, and collecting rent with modern pop culture and top-notch graphics. The newly released game, built on the BSC blockchain, is set to conduct monthly tournaments with prizes valued in thousands of U.S dollars. In regular play, users will be able to earn the games native $MONO and $MOB tokens. Winners will also stand to receive new characters and gaming items that they can either use or sell in the game’s NFT marketplace for fiat.  What’s Happening Next? Over $1 million will be raised for the Monopolist Ecosystem project. Currently, $750K from a private round has been successfully raised and $375K will be raised from the upcoming launch on Binstarter. The Initial Full Diluted Project Valuation is $10 million, the Initial Token Circul...

Safechaintoken , a BSC-based hyper-deflationary token with the ticker SCT, appears to be attaining milestones following a very successful pre-sale it just concluded. According to a recent tweet, the project delightfully announced its very successful presale which saw it hitting the hard cap of 250 BNB in just about 8 minutes. The event suggests that SCT had hit over $118 thousand market cap in less than 10 minutes, considering that it hit the hard cap with exclusively high speeds while BNB is currently trading at $523. SCT Token Sees Listing on Major Exchanges Including PancakeSwap  The presale session which commenced on the 23rd of October was conducted in a bid to launch the SCT token. Fortunately, the presale is already spelling exclusive success for the project as it revealed the approach of further development towards the token in just a few minutes after the presale was completed. Per the announcement, the project was able to achieve its aim of seeing the token listed ...

Wharton School of the University of Pennsylvania has announced that prospective students can pay their tuition fees through cryptocurrency. The adoption is limited to the novel online blockchain and digital program that is expected to commence in January. The school has an interesting history with cryptocurrencies and blockchain technology. A top US Business school has embraced cryptocurrencies and blockchain enthusiasts are giddy with excitement. Although there is a snag to the adoption, it could have a domino effect on several institutions, leading to larger adoption rates . Students Can Pay Tuition With Cryptocurrencies The Wharton School of the University of Pennsylvania has announced that it will begin accepting Bitcoin and other cryptocurrencies from students as a means of paying their tuition. Despite the innovativeness of this offering, it is limited to a new course offered by the leading business school that is billed to begin on January 3, 2022.  The course is t...

KaraStar blockchain game will be launching its beta version on Nov. 5, 2021. Thereafter, users will have the opportunity to complete various tasks on the game’s official website at a 100% winning rate. For this, they will earn points which they can redeem for part of the 500,000 USDT prize pool, in addition to NFT Treasure Boxes. Currently, GameFi is one of the most attractive trends in the crypto ecosystem as it brings together decentralized finance (DeFi), non-fungible tokens (NFTs), and blockchain-based online games. However, many GameFi projects struggle to simultaneously achieve playability and profitability. As player interest diminishes, the game’s token drops in value bringing losses to gamers. Other games with guaranteed playability have poor economic models which prevent gamers from earning revenue. Differently, KaraStar presents to users a unique durable play-to-earn ecosystem. The game features a credible smart contract system with open and transparent transactions. All...

Key takeaways Elon Musk’s take on Bitcoin scaling has sparked criticisms towards the billionaire. Bitcoin proponents think Musk “may never understand Bitcoin.” There is still a lot of need to enlighten the befuddled about Bitcoin. The cryptocurrency space considers Elon Musk’s involvement in the industry to be very commendable, especially with the recent revelation made via Tesla’s September 3rd quarter SEC filing that there were plans for the electric vehicle company to resume accepting Bitcoin payments for its products and services . Musk has however also been the subject of a lot of criticisms from Bitcoin proponents as from time to time, his opinions on issues that concern the leading cryptocurrency have been considered to show him as not having a well-grounded understanding of the crypto asset. His recent tweet once again triggered such reactions. While responding to a question posed to him about the possibility of Dogecoin (DOGE) becoming more “practical and efficient” ...

Key Takeaways  Analyst predicts a $168,000 Bitcoin price by the end of 2021. Bitcoin ETFs have fueled the recent rise of the leading cryptocurrency. Co-founder of Fundstrat, Tom Lee, has revealed that according to the firm’s analysis, the leading cryptocurrency should reach as high as $168,000 by year-end. In the recently published report, he noted that Bitcoin would continue to surge well after the launch of several Bitcoin exchange-traded funds in the US. Tom Lee, along with other analysts, remains bullish on Bitcoin. The Wall Street strategist has long been bullish on Bitcoin as he previously predicted that the price would reach at least $100,000 before the year runs out. He is reiterating the stance and is even upping his expectations of Bitcoin. According to the report, the major bullish driver will be the Bitcoin futures ETFs that are now trading in the U.S. Fundstrat expects ProShares Bitcoin Strategy ETF and the host of others that have begun trading on regulated...

Jim Cramer admits says his attempts into Bitcoin was “simply gambling” and not for inflation insurance. He comments that there is nothing wrong with investors leaping into the space as long as they understand all the risks that are associated with the asset class. He is a proponent of the greater fool theory and believes that the theory can be applied to cryptocurrencies. CNBC’s Jim Cramer has shared his opinions on Bitcoin and Ethereum investing, giving investors his blessing to speculate on the asset class. He cites the presence of millions of greater fools as the reason for holding onto his crypto assets. The Greater Fools Jim Cramer has given the nod to investors buying into cryptocurrencies as far as they understand the inherent risks involved in them. The Mad Money host goes on to state that the entire industry is hinged on the greater fools theory which posits that an investor can notch a profit from the purchase of an asset so far as there exists another person to buy ...

Key takeaways Founder of CryptoLaw Attorney John Deaton warns SEC’s success against Ripple would affect every other cryptocurrency. Deaton points to the wording of the SEC’s complaint, stating that any other cryptocurrency can be substituted for XRP. The SEC vs. Ripple case is long drawn out and has been the subject of a lot of speculation as to what the outcome and consequences could be for the cryptocurrency market. Attorney John Deaton, the founder, and host of CryptoLaw – an XRP advocacy movement has warned that the entire cryptocurrency community should be worried about what the Securities and Exchange Commission (SEC) is trying to achieve with its lawsuit against Ripple. “Even if you hate the company Ripple and you despise the digital asset XRP, you better be praying that the SEC fails in what it is trying to do,” he said adding “it is going to affect everybody.” His argument is basically that the way the SEC frames its case against Ripple is particularly dangerous as i...

BitTorrent, a decentralized peer-to-peer network, and TRON, blockchain-based operating systems are thrilled to announce the official launch of their BitTorrent Chain (BTTC). As per the announcement, TRON and BitTorrent have worked together for their first-ever venture into the cross-chain field. BTTC, launched on October 30, is the first heterogeneous cross-chain interoperability protocol. The protocol has been built on the TRON blockchain, co-developed by the two projects.  TRON and BitTorrent came together to co-develop this project due to the lack of a system in the current blockchain ecosystem to support the demand for large-scale applications. While decentralized applications are being developed in large numbers, users still face poor user experience, high transaction fees, low scalability, and slow block validation.  To solve these problems, BTTC adopts a proof of stake (PoS) consensus mechanism that deploys multiple nodes for validation and leverages side chains t...

Secretum , a blockchain-based messaging app, provides a secure platform that allows people to interact without compromising their security and privacy. Secretum is the first fully decentralized and secure messaging app created on the Solana Blockchain. Secretum seeks to provide end-to-end messaging services to its users free from censorship, moderation while at the same time providing users with much-needed privacy.  Created by a group of Lithuanian developers, Secretum also provides users with a robust storage system that is trusted and independently verified by nodes on the Secretum network.  This ensures there is no point of failure a downside of using other cloud-based messaging services.  What sets Secretum apart from other processes is that it provides users full privacy by allowing for anonymous sign-ups. The platform does not collect any personal data like names or phone numbers to eliminate the risks of data hacks and leaks. Notably, users are only required ...

Justin Bennett of Cryptocademy predicts that after Bitcoin reaches the top of the cycle, the bottom should be around $50K. The analyst predicts that the top of the bull run could be between $207,000 and $270,000. The asset’s current behaviour bears striking historical similarity with performances of 2013 Analysts have made valiant attempts to forecast bitcoin’s potential highs amid the bull run but few have suggested a possible bottom when it all comes to an end. Justin Bennett cites $50,000 as a possible low when the bears kick in. A Closer Look At The Charts Justin Bennett, an analyst at Cryptoacademy has published a detailed analysis of Bitcoin’s recent price behavior. Dubbed “Charting Bitcoin’s Next Five Years”, Bennett’s writings come on the heels of Bitcoin setting a new all-time high of $66,930 and the mounting institutional interest it has garnered over the last week through several Bitcoin ETF launches. BTCUSD Chart By TradingView Bennett and other analysts note...

Investors in Australia can offer, buy and trade Bitcoin and Ether in the traditional stock market, following the approval of Bitcoin and Ethereum spot ETFs by the Australian Securities and Investments Commission (ASIC). ASIC provided a set of guidelines that will allow investment funds to offer ETFs pegged to cryptocurrencies, enabling direct exposure to cryptocurrency assets for more investors. The decision is a result of discussions among various regulators in the country on how to regulate Exchange Traded Products (ETPs) in the emerging digital assets class. The announcement also makes ASIC the latest regulator and among the first to approve spot ETFs for cryptocurrencies in the world. Cathie Armour, ASIC Commissioner said crypto assets possess unique qualities and risks that product issuers and market operators must consider to meet their existing regulatory requirements. “The good practices we published provide practical examples of how these obligations maybe met, in a w...

Mini Degens, a new Play-to-Earn cryptocurrency video game, and ecosystem based on the Binance Smart Chain is set to find its way into the NFT space. Mini Degens reveals plans to develop a game, NFT in-game marketplace, and official merchandise store basically for Crypto users to venture into. The project is yet to commence functioning as the team behind the project revealed that it is still currently in development and therefore not yet available on any platform. Although the project has its focus majorly on the gaming industry, yet it revealed that the project is open to all with an avid interest in cryptocurrency and investment. Those looking to immerse themselves into a fantasy world and earn in the process are also not excluded. Mini Degens May Launch Fully in Mid December According to the announcement, there are possibilities that the alpha launch of the game might happen in mid-December, 2021. Considering the team behind Mini Degens which comprises experts in diverse fiel...

Squid Game Token makes a meteoric ascension as it surges by over 45,000% in a week. The asset’s rise has been marred by whispers that it might be a scam with analysts giving their reasons. The token reached $13 and managed a daily trading volume of over $8 million. A few days after launch, Squid Game token has recorded remarkable growth that is reminiscent of the popularity of the show that inspired its creation. The asset has climbed over 45,000%, stealing some of the shine off Shiba Inu . Squid Game Token On Tuesday, SQUID was trading at around $0.01235 in less than three days, the asset has managed to record meteoric gains that have seen it trade at over $13. In the last 24 hours, the asset has gained over 300% while trading volumes over the last day have risen to $8.2 million.  Its market capitalization is said to be at $10 billion and shows no signs of slowing down. At the start of the day, the token was trading at around $3 and managed to reach a peak of over $12 by...

The mystery around Shiba Inu’s recent unprecedented run continues to baffle many as the price continues to thrive. Since its creation in August 2020 and first debut on major exchanges from early May 2021, the token’s price has steadily risen, ousting the most popular meme coin Dogecoin in market valuation . In the past year, the token has added an astronomical 94,204,977.4% and over 800% in returns in the last two weeks. A Tale of Despair, Disbelief, And Massive Returns “ People never miss an opportunity to miss an opportunity” is a saying that holds true with Shiba Inu’s proponents. While many investors were excited at the dog-themed token following its debut on major crypto exchanges starting with OKEx, a huge percentage of them are distressing for developing paper hands that saw them sell their holdings too early. For others, however, it’s a tale of happiness as they reap huge returns just before Christmas. Take for example this particular entity whose Shiba Inu holdings wa...