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The official Instagram feed of Highness Saahil Kumar Chathrath IND Businessman,

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The Block Research’s Analysts: 2024 Predictions

George Calle

Total crypto market cap, along with key large caps (BTC, ETH and SOL), will appreciate amid a generally risk-on environment in 2024. Crypto will broadly outperform broader equities and tech sector indices. A cash-settled BTC ETF happens in early Q1, but BTC dominance will falter through most of the year as investors turn to alternatives with greater potential upside.

The Dencun Upgrade, which introduces proto-danksharding, will occur in late Q1 or early Q2 2024. This will result in a fundamentals-driven rally across L2 tokens and their ecosystems as net profit margins grow. This will also drive a speculative cycle around platforms that service the broader modular blockchain stack.

The DeFi sector will benefit from both financial and technical innovation sowed in 2023. Regarding the former, the growth of liquid staking protocols in 2023 will allow for staking yields to permeate into broader types of DeFi products, such as interest-bearing stablecoins, pushing up ‘risk free rates’ across the sector. Regarding the latter, new yield-optimizing DeFi products will start to leverage account abstraction and multichain protocols to pass on multi-loop and cross-chain strategies to users.
#CryptoNews

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New Crypto Tax Law Takes Effect in US: Transactions of $10,000 or More Must Be Reported to IRS Within 15 Days

New Crypto Tax Law Takes Effect on Jan. 1

Effective Jan. 1, 2024, the Infrastructure Investment and Jobs Act, which passed in November 2021, requires “anyone who receives $10,000 or more in cryptocurrency in the course of their trade or business to make a report to the IRS about that transaction,” crypto policy advocate Coin Center explained in a blog post on Tuesday.

Coin Center is a leading non-profit research and advocacy center focused on the public policy issues facing cryptocurrency. The organization filed a lawsuit against the Treasury Department in June 2022 challenging the constitutionality of this new crypto law. However, Brito emphasized that “the case is still in the courts,” cautioning: “Unfortunately for the time being there is an obligation to comply — but it’s unclear how one can comply.”

The executive director outlined some potential challenges in complying with the new regulations. “For example, if a miner or validator receives block rewards in excess of $10,000, whose name, address, and social security number do they report?” he began. “If you engage in an on-chain decentralized exchange of crypto for crypto and you therefore receive $10,000 in cryptocurrency, who do you report? And by what standard should you measure whether an amount of a particular cryptocurrency is equivalent to more than $10,000?”
#CryptoNews

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Etherscan acquires Solana block explorer Solscan amid SOL rally

Etherscan, which operates an explorer for the Ethereum blockchain, is starting the year with new acquisitions related to the Solana blockchain.

On Jan. 3, Etherscan officially announced the acquisition of Solscan, a leading block explorer for the Solana ecosystem. It said that the acquisition is a “collaborative merging” that continues Etherscan’s efforts to expand blockchain data services across multiple networks.

Founded in 2021, Solscan has reportedly served over three million monthly users, while its community on X (formerly Twitter) has amassed more than 23,000 subscribers at the time of writing. The Solscan block explorer has many features familiar to users of Etherscan, including detailed address, token, transaction data, APIs, dashboards, and nonfungible tokens' (NFT) metadata.

Following the acquisition, Etherscan will continue to provide “credibly neutral and equitable access to blockchain data,” the announcement notes. The firm also plans to integrate additional features across different explorers and offer enhanced support.

“The Solscan team has proven their expertise over the years by offering detailed insights and analytics. Their expertise in making blockchain data accessible and user-friendly also aligns perfectly with our mission at Etherscan,” Etherscan CEO and co-founder Matthew Tan said.
#CryptoNews

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What are Telegram trading bots and how to use them in crypto?

Telegram trading bots, explained

Automated programs known as Telegram trading bots can be easily integrated with the Telegram messaging platform via its bot application programming interface (API). This integration allows users to communicate with the trading bot over chat, provide commands, get updates, and execute trades using interactive buttons or straightforward text commands within the Telegram interface.

Unibet (Unibot) is an example of a Telegram crypto bot. It was designed to enable quick swaps and snipers; it was first presented as the fastest Telegram Uniswap sniper accessible for a 1% transaction charge.

As a Telegram bot, Unibot allows users to trade cryptocurrencies without exiting the Telegram app. It is user-friendly and offers many features, such as decentralized exchange (DEX)-based limit orders, decentralized copy trading and defense against maximum extractable value (MEV) bots. According to CoinMarketCap, the market cap of Unibot stands at approximately $57.21 million.
#CryptoNews

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Elon Musk Excites Crypto Army With Starlink’s New Product

Crypto community reacts to new Starlink project

Musk posted a video about the first launch of new Starlink-to-Phone satellites. These satellites will be able to connect directly to users’ smartphones, the video reveals.

Just three years ago, Starlink launched the first service for its paying customers in the U.S. with SpaceX. Today, the company provides 2.3 million households and organizations based in over 70 countries around the world with high-speed internet. Currently, Starlink is the biggest satellite internet connection provider in the world by overall number of users.

The company’s new satellites that are capable of connecting the internet directly to users’ phones are called “Direct-to-Cell.” This service will be operating thanks to recent partnerships with local U.S. wireless internet providers, such as T-Mobil, the video mentions. Smartphones can be connected to these new Starlink satellites even in locations with no regular internet connection available.

In response, Musk received numerous comments showing the excitement of users over the new product. Among them were many tweets posted by crypto-themed accounts, some reminding Musk that he intended to send Dogecoin to the moon with SpaceX.
#CryptoNews

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Ethereum L2 Activity Rises: What’s In It for ARB and OP?

According to IntoTheBlock, activity shifted from the Ethereum (ETH) Mainnet to its Layer-two (L2) protocols in 2023. The blockchain intelligence firm, in its post on X, noted that transactions increased on the L2s 90 times compared to what it was in 2021.
Ethereum L2s were developed as a way to solve the scalability issues users face on the main chain. Roughly, the Ethereum Mainnet processes 15 transactions per second. This process also comes with high gas fees.

However, the launch of optimistic rollups including Arbitrum (ARB) and Optimism (OP) meant that users could process transactions with increased speed and reduced costs. The adoption of these L2s has also impacted their respective native tokens.

For example, ARB’s price has risen by 54% in the last 90 days, according to CoinMarketCap. OP also enjoyed a 170% increase within the same period. These performances were one of the reasons Coin Edition tipped OP and ARB as tokens to watch out for in 2024.
#CryptoNews

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Chainlink (LINK) Holder's $4.66 Million Nightmare – Phishing Attack That Shook Community

In a disheartening turn of events for one Chainlink
LINKUSD
holder, a devastating phishing attack has resulted in the loss of a staggering $4.66 million worth of the cryptocurrency. Lookonchain, a prominent data analytics firm, brought the incident to light through a tweet, describing the unfortunate event that befell a holder who saw 275,700 LINK tokens, equivalent to $4.42 million, vanish in a cunning phishing attack.

The victim had meticulously accumulated 290,750 LINK tokens, valued at $2.26 million, by trading on various exchanges between June 7, 2022, and Oct. 14, 2023. This savvy investor had managed to accrue a profit of nearly $2.4 million, given favorable market conditions. However, the windfall turned into a nightmare when the individual inadvertently clicked on a phishing link and unwittingly approved a transaction.
#tokens

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Kyberswap Exploit Fallout: Platform’s Workforce Cut by 50%

- Continuing Impact of the November Security Breach

- Victor Tran, the co-founder and CEO of the decentralized finance (defi) platform Kyberswap, announced on Christmas Day that his company has reduced its workforce by 50%. In a post on X, Tran linked the decision to let go of some of its most skilled workers to last month’s security breach, which saw Kyberswap lose assets worth more than $50 million to a cyber-criminal.

- As reported by Bitcoincom News soon after the breach was confirmed, Kyberswap initially said digital assets worth $47 million were unaccounted for. This figure would later rise to more than $50 million, making it one of the biggest security incidents in decentralized finance in November. At the time, the Kyberswap team initially claimed that the incident had not impacted its decentralized exchange aggregator.

- Kyberswap later engaged with the hacker(s) who responded by asking management to sell them the platform. The hackers also proposed a twelve-month severance package to Kyberswap employees who agreed to resign. At the time, the hackers’ demands were rebuffed by the Kyberswap team.
#CryptoNews

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MicroStrategy Spends Another $615 Million On Bitcoin, Do They Know Something You Don’t?

- In a strategic move that has effectively caught the attention of the crypto space, Microstrategy has once more fortified its Bitcoin portfolio, strengthening its position as the largest corporate holder of BTC globally.

- MicroStrategy Boost BTC Holdings

- In a recent filing on December 27, the United States Securities and Exchange Commission (SEC) announced that business intelligence software company, Microstrategy has increased its Bitcoin holdings by 14,620 BTC valued approximately at $615.7 million.
#CryptoNews #nft

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Mt. Gox Repayments Tied To 2014 Hack Hit Technical Snag As Some Creditors Receive Double Payouts

- Some creditors of defunct crypto exchange Mt. Gox are receiving double payments to their PayPal accounts after reimbursements commenced. Mt. Gox has admitted the error through email and is demanding the duplicate payment be returned.

- Some Mt.Gox Creditors Get Double BTC

- Infamously hacked crypto exchange Mt.Gox has started making bankruptcy-related creditor repayments via PayPal. A Reddit user on the Mt. Gox insolvency subreddit going by the name Mat Philips revealed that he got 30,283 JPY ($212) in his PayPal account for a claim of 0.125 in bitcoin (BTC) and Bitcoin Cash (BCH). According to his claim form, Phillips is supposed to receive a sum of 106,502 JPY ($747), so he questioned whether additional payments would be made.

- Mt.Gox has also found itself at the center of a technical and potentially legal conundrum after accidentally paying settlement funds twice. Several Reddit users reported receiving double payments from Mt.Gox, alongside a request to send the extra payment back.

- These users received an email from Mt. Gox Rehabilitation Trustee saying that “due to a system issue, the transfer of money to you was inadvertently made twice”. Creditors are not “authorized to receive the second transfer and are legally obligated to return the above amount to the Rehabilitation Trustee.” The Trustee reportedly demanded the extra payment be refunded “immediately”.
#CryptoNews

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🪙 Staked ether deposits surpass withdrawals for the first time since Shapella upgrade

- The surge in outflows of staked ether seen after Ethereum's Shapella upgrade enabled withdrawals for the first time has stopped after less than a week, with traders once again staking more ether than they're unlocking. Over the past 24 hours, nearly 95,000 ETH was deposited and just over 27,000 ETH was withdrawn, creating a net positive flow of almost 68,000 ETH, according to data provider Nansen.

- Even so, the total amount of ether pending withdrawal remains just under $2 billion in value at nearly 927,000 ETH. That's down approximately $1 billion from its post-Shanghai high of over $3 billion. Though the analysts claim that withdrawals may continue to grow in the short term, they also noted that withdrawals do not necessarily indicate an intent to sell. Instead, users may rotate their withdrawn ether to different validators or staking providers. Indeed, the price of ether has broadly increased alongside Ethereum's Shanghai upgrade. It is currently trading above $2,100. The Shapella update for Ethereum — the first significant modification since the protocol shifted away from the energy-intensive proof-of-work.
#ETH #Crypto #Ethereum

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🖼 ConsenSys Layer 2 network Linea adds loyalty NFT campaign to drive adoption

- ConsenSys-built Layer 2 network Linea is introducing a loyalty NFT campaign to boost activity on its testnet. The program will reward users with NFTs for performing certain tasks related to using the testnet, according to a blog post. The plan aims to help stress the network and test activities at scale ahead of the network’s mainnet launch expected in the coming months.

- The weekly challenges will involve using bridging protocols built on the Linea testnet including Hop Protocol, Celer Network, Multichain and Connext. Bridging refers to the transfer of digital assets across different networks. The campaign follows similar ones run by Layer 2 networks Arbitrum, Optimism and Polygon that all used the loyalty platform Galxe, which will also be used by Linea. The campaigns have often resulted in large increases in activity on Layer 2 networks, sometimes causing congestion on the network. Arbitrum’s Odyssey campaign even resulted in fees temporarily rising higher than on the Ethereum mainnet, a suboptimal result for a supposed scaling solution.
#NFTs #crypto

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🥇 Bitcoin 2023 Conference to Host Political Leaders from Around the World

- Bitcoin enthusiasts, tech innovators, and industry leaders from around the world will come together to discuss the latest advancements in the Bitcoin industry at the Bitcoin 2023 Conference. The conference is committed to providing a platform for diverse views and opinions to build a strong Bitcoin community that focuses on solving real problems and finding solutions. The program includes speakers from all spheres of society, from academics to engineers to politicians.

- Prominent political figures speaking at the conference include Cynthia Lummis, Senator from Wyoming; Governor Ridwan Kamil of West Java, Indonesia; Congressman Patrick McHenry of North Carolina; Congressman Byron Donalds of Florida; Tulsi Gabbard, former Democratic Congresswoman from Hawaii; and David McIntosh, former Congressman & White House Senior staff. Senator Lummis, a staunch advocate for Bitcoin and technological innovation, will share her views on cryptocurrency's role in the financial industry. She has been a vocal proponent of Bitcoin, co-sponsoring the Financial Innovation Act of 2021, which calls for a regulatory framework for cryptocurrencies and blockchain technology.
#Bitcoin #Crypto

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to wait for things instead of making them happen.

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@520bnb @cz_binance strategies with advanced analytical functionalities.

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@SmoothCampbell Zella Steenhoven SpaceX designs, manufactures and launches the world’s most advanced rockets and spacecraft

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@CostaPamzinha Forrest Blafield Passionate AI Evangelist preaching cryptocurrency, decentralization, and AI's transformative potential.

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@justin1990fcfrr Galen Rawling Edebiyat Siyaset Yazarlar Siyas

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@m_Adam9 Max Gonzoles deleter of tweets. probably wrong so don't listen to me

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@vanaabraz Clinton Rutski as an introvert, i just wnna share wht i feel, and unimportant things in everyday