gökhan

Cryptocurrencies offer borderless transactions without intermediaries.

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@asiangirls_234 wonderful

[gökhan @smsnlumm]

@asiangirls_234 wonderful

[gökhan @smsnlumm]

OKX has announced its compliance with the new UK crypto rules ahead of the deadline set by the Financial Conduct Authority. In order to ensure fair and transparent crypto promotions, OKX will require all new and existing UK users to complete questionnaires regarding client categorization and appropriateness assessment. Failure to comply will result in ineligibility to hold an OKX account. Additionally, OKX emphasizes its commitment to responsible trading by educating customers on research, trading plans, and risk management practices.

[gökhan @smsnlumm]

As the popularity of Solana and its associated cryptocurrencies continues to surge, cybersecurity firms Blockaid and CertiK have issued warnings about an increase in cyber attacks targeting SOL token holders and SPL assets. These attacks involve sophisticated phishing schemes that utilize specialized drainer malware, which can deceive Solana wallet simulations and trick users into unknowingly approving fraudulent transactions. The result is the loss of large sums of money for the victims.

With the growing interest in projects within the Solana ecosystem, including speculative memecoins like ANALOS and BONK, novice crypto traders are being lured by the promise of profits. Unfortunately, this has led to a rise in drainer hacks, which require significant technical expertise to execute. In fact, during the month of December, cybercriminal groups openly advertised their specialized Solana wallet drainers for potential buyers.

Blockaid has observed an increasing number of drainer threats among malicious Solana programs, indicating that larger attackers are now focusing on this blockchain. This heightened attention on Solana highlights the challenges the platform faces as it scales and underscores the importance of open web3 ecosystems.

Both Blockaid and CertiK strongly advise Solana holders to exercise extreme caution when dealing with unsolicited links, closely monitor transaction approvals, and activate any available account protections in order to mitigate the risks associated with drainer attacks.

[gökhan @smsnlumm]

BitMEX whales have strategically absorbed Bitcoin sell-offs from Binance, raising speculation about an imminent pump in the market. According to CryptoQuant, these whales have increased their positions during the recent price drop and Binance liquidations. If this trend continues, it could indicate the successful absorption of Binance sell-offs by BitMEX whales and potentially lead to a short-term market pump. This development is significant news in the cryptocurrency world.

[gökhan @smsnlumm]

The potential for Bitcoin ETFs to generate substantial annual fees, similar to gold ETFs, is a key point made in this post. With the estimated possibility of Bitcoin ETF issuers generating between $10-20 billion in fees annually, it is evident that there is a strong market demand. To achieve dominance and secure long-term revenue generation, issuers like BlackRock and Fidelity are expected to fiercely compete for market share after the SEC approves multiple spot ETFs. This competition highlights the importance of effective advertising strategies that not only attract investors but also ensure a high return on investment for every dollar spent. Early dominance in the ETF market is crucial as investors are less likely to switch once they have committed to a specific ETF. In conclusion, the potential for Bitcoin ETFs to generate record-high fees is significant, given the current market dynamics and the competition among issuers for market share.

[gökhan @smsnlumm]

In 2024, the total crypto market cap, including BTC, ETH, and SOL, is expected to increase in value due to a favorable risk-on environment. Crypto assets are projected to outperform equities and tech sector indices. Additionally, a cash-settled BTC ETF is anticipated to launch in early Q1, but BTC dominance may decline throughout the year as investors seek alternatives with greater potential gains.

The Dencun Upgrade, featuring proto-danksharding, is predicted to take place in late Q1 or early Q2 of 2024. This upgrade will drive a rally in L2 tokens and their ecosystems, fueled by improved fundamentals and increased net profit margins. Furthermore, it will stimulate a speculative cycle around platforms supporting the wider modular blockchain stack.

The DeFi sector will benefit from advancements in both financial and technical innovation established in 2023. The growth of liquid staking protocols will enable staking yields to impact a broader range of DeFi products, such as interest-bearing stablecoins. Consequently, this will push up risk-free rates across the DeFi sector. Technical innovations, including account abstraction and multichain protocols, will facilitate the development of new yield-optimizing DeFi products. These products will employ multi-loop and cross-chain strategies to provide users with enhanced returns.

Overall, positive developments in the crypto market are anticipated in 2024, with an emphasis on the growth of specific cryptocurrencies, advancements in blockchain technology, and increased adoption of DeFi innovations. #CryptoNews

[gökhan @smsnlumm]

Klaytn Foundation has recently partnered with CREDER to onboard $GPC and Goldstation, a DeFi platform, onto its blockchain. This move marks a significant achievement as $GPC becomes the first gold token offered on DeFi outside of Ethereum, and it doesn't charge percentage-based transaction fees. Users will benefit from Klaytn's low gas fees, enabling small investments in gold. Furthermore, removing percentage-based fees ensures cost-effectiveness when trading gold tokens on DeFi. The partnership aims to deliver more metal RWA tokenization projects to both domestic and global markets. Goldstation will begin offering services, including $GPC staking, on January 24, initially targeting South Korean residents but with plans for a global launch in the future. Exciting times await in the world of blockchain and DeFi.

[gökhan @smsnlumm]

Researchers from the University of Innsbruck in Austria have developed a method to assess the 'temporal validity' of artificial intelligence (AI) systems, with potential implications for fintech. Temporal validity refers to the relevance of a statement over time, particularly in the context of paired statements. By evaluating an AI's ability to predict temporal validity, the researchers aim to improve the understanding and application of generative AI products, such as ChatGPT, in the fintech sector. This research paper titled Temporal Validity Change Prediction by Georg Wenzel and Adam Jatowt presents the concept using the example of a person reading a book on a bus. #CryptoNews

[gökhan @smsnlumm]

In a remarkable milestone, cryptocurrency exchange volume reached a whopping $1 trillion in December, a feat that hadn't been accomplished in over a year. This surge marked a significant highlight for the crypto trading community, with a staggering $1.1 trillion in total exchange volume for the month. Notably, the last time volume exceeded this threshold was back in September 2022, when it reached $1.03 trillion. This surge in trading momentum throughout December also set a new monthly record since May 2022, when volume peaked at $1.35 trillion. Binance emerged as the leading exchange during this period, commanding 39.3% of the month's volume with a staggering $432.7 billion in trading volume, followed by Upbit and OKX with 8.3% ($91.8 billion) and 8% ($87.5 billion) respectively. This significant increase in trading volume provides further evidence of the thriving crypto market. #CryptoNews

[gökhan @smsnlumm]

MicroStrategy co-founder Michael Saylor is selling $216 million worth of company shares to purchase more bitcoin and address financial obligations. He plans to sell 5,000 shares per trading day between Jan. 2 and April 25. MicroStrategy remains the largest listed corporate holder of bitcoin, currently owning 189,150 BTC. Bitcoin recently reached its highest level since April 2022, trading at $45,182. #CryptoNews

[gökhan @smsnlumm]

The new crypto tax law in the US requires individuals who receive $10,000 or more in cryptocurrency to report the transaction to the IRS within 15 days. This law, which came into effect on January 1, 2024, is a result of the Infrastructure Investment and Jobs Act passed in November 2021. Coin Center, a non-profit research and advocacy center, has challenged the constitutionality of this law in a lawsuit against the Treasury Department. However, compliance is currently mandatory, although the process of compliance is uncertain. The executive director of Coin Center highlighted potential challenges, such as determining whose information to report when miners or validators receive block rewards exceeding $10,000, reporting on-chain decentralized crypto exchanges, and establishing a standard for determining if a specific cryptocurrency amount is equivalent to more than $10,000. #CryptoNews

[gökhan @smsnlumm]

Orbit Chain recently fell victim to an exploitation in its cross-chain bridging protocol, resulting in a staggering $81.6 million loss across various cryptocurrencies such as USDT, ETH, and WBTC within just a few hours. The attack, which is confirmed by the protocol, involved the hacker capitalizing on the anonymity provided by the Tornado Cash mixing service and subsequently exploiting vulnerabilities present in Orbit Chain's Ethereum vault. In a meticulously planned incident, the attacker systematically drained funds from the Orbit Bridge through five separate transactions, totaling $82 million. The stolen assets included $30 million in USDT, $10 million in USDC, 21.7 million in ETH, $9.8 million in WBTC, and $10 million worth of DAI. Although the exact method used in the attack remains undisclosed, it is suspected that the vulnerability lies within the bridging process itself, allowing the creation of assets on one chain without their corresponding destruction on the original chain. This suggests a potential weakness in the cryptographic proofs or relayers responsible for ensuring secure atomic transfers. The incident serves as a reminder of the ongoing security challenges faced by the crypto industry.

[gökhan @smsnlumm]

According to a Bloomberg report, CleanSpark, a Bitcoin miner, is planning to launch its own in-house trading desk. The CEO, Zachary Bradford, stated that using their large Bitcoin balance makes it financially sensible to do so themselves. CleanSpark currently holds 2,575 BTC, valued at around $116 million. The company intends to base their strategies on regulated crypto offerings, including option contracts traded on the Chicago Mercantile Exchange. While they may need to move a small amount into different accounts, they will keep the cold storage custody with trusted holders like Coinbase with segregated accounts. #CryptoNews.

[gökhan @smsnlumm]

Bitcoin (BTC) has shown tremendous growth potential over the years and has gained significant recognition in the economy. As a decentralized digital currency, BTC eliminates the need for a central authority in processing or verifying transactions. It is widely acknowledged and used as a medium of payment among users. Being the first widely used cryptocurrency, it has paved the way for decentralized electronic currencies. Considering these factors, we can anticipate a bright future for BTC's price in 2024, 2025, and 2030. Stay tuned to learn more about its predicted value in the coming years. #CryptoNews

[gökhan @smsnlumm]

The price of Ethereum has experienced a significant increase of nearly 10% in the past day, driven by a surge in demand. This surge can be attributed to Ethereum co-founder Vitalik Buterin sharing an updated roadmap for the blockchain's future, which has generated excitement and optimism among investors. The roadmap outlines essential priorities such as the merge, surge, scourge, verge, purge, and splurge. Furthermore, the forthcoming testnet launch of the Dencun Upgrade on January 17 has sparked further accumulation of Ethereum, as market participants anticipate a potential rally. This news showcases the ongoing growth and potential of the cryptocurrency market.

[gökhan @smsnlumm]

Based on the content of the post, it suggests that the XRP price has found support near the $0.600 zone after a downside correction. Although the price has shown some minor increase, it has been limited compared to Bitcoin and Ethereum. Currently, XRP is consolidating below $0.640 and is stable above $0.620 and the 100 simple moving average (4 hours). There is a key contracting triangle forming with resistance near $0.6380, and the next major resistance is near the $0.650 zone or the 61.8% Fib retracement level. If the price manages to close above this resistance, it could potentially trigger a strong increase. #CryptoNews

[gökhan @smsnlumm]

Radiant Capital has made the decision to temporarily suspend trading on Arbitrum markets due to a reported flash loan attack that resulted in a loss of $4.5 million. The attack was executed through a rounding issue in the codebase, leading to a cumulative precision error. The attacker leveraged this vulnerability to repeatedly deposit and withdraw funds, ultimately profiting from the exploit. Additionally, PeckShield identified this issue as a known rounding issue in the current Compound/Aave codebase, highlighting that it takes advantage of a specific time window during the activation of a new market in a lending platform. The situation underscores the importance of continuous vigilance and security measures in the cryptocurrency ecosystem.

[gökhan @smsnlumm]

Arbitrum (ARB) has experienced an impressive 30% price uptrend, and there are predictions of a breakout above $2. This surge in price is a clear reflection of the growing interest in the protocol and its native token within the Layer 2 ecosystem. According to Token Terminal, the market capitalization of Arbitrum currently stands at $2.21 billion, showing a significant increase of 56.18%. Additionally, the protocol has generated $11.31 million in revenue over the past 30 days, marking a substantial surge of 87.74%. The fully diluted market capitalization of Arbitrum is $17.33 billion, indicating the market's positive sentiment towards the protocol's potential. On an annual basis, revenue reaches an impressive $137.63 million, signifying a growth rate of 106.63%. Furthermore, the strong performance of market indicators, such as the P/F ratio (fully diluted) and P/S ratio (fully diluted), both standing at 125.95x, showcases robust investor confidence. The future looks promising for Arbitrum within the cryptocurrency space.

[gökhan @smsnlumm]

We're excited to announce that SafePal will be hosting an Ask Me Anything (AMA) session on January 4th, where users can learn more about our secure and user-friendly cryptocurrency wallet. With our hardware and software wallet options, all managed through the SafePal App, users can effortlessly store, manage, swap, trade, and grow their crypto wealth. Join us for this informative session and discover how SafePal is revolutionizing crypto asset management for the masses. Don't miss out on this opportunity to stay updated on the latest #CryptoNews.