The Solana-based Cypher Protocol is again in the negative spotlight after one of its core developers admitted to stealing and losing over $300,000 of users’ funds. Another of the project’s developers first unveiled the news and also alerted law enforcement. Solana-Based Protocol Faces Inside Job On Monday, Cobra, one of Cypher Protocol’s developers, revealed that […]
Solana has seen its price struggling to return to bullish levels for the past month. Solana previously reached $208 on March 18 after a strong price uptick spanning over five months. However, this cross over $200 was very brief as Solana dipped to $167 before reversing and reaching $203 again on April 1. Again, this […]
While Ethereum struggles to regain the Q1 2024 momentum, currently tethered close to the psychological $3,000 level, one trader remains bullish. Taking to X, the analyst posts several reasons to negate concerns by skeptics even with the coin trading 30% from March 2024 highs when prices broke above $4,000. By this take, doubts about future gains could […]
Despite the current market downtrend, crypto traders are still finding ways to make life-changing gains. This is the case of some Solana meme coin traders who recently turned $6,400 into $8 million in 24 hours. On-chain analytics platform Lookonchain revealed in an X (formerly Twitter) that these traders turned $6,400 into $8 million by investing […]
Asset management firm Pantera Capital has emerged as one of the successful bidders in an auction of discounted Solana (SOL) tokens conducted by the liquidators overseeing the bankruptcy of the former FTX cryptocurrency exchange. The sale, which included approximately 2,000 SOL tokens, signifies Pantera Capital’s continued interest in expanding its Solana portfolio. FTX Sells Additional […]
Recent data from Santiment, a prominent market intelligence firm, indicate that the altcoins may enter a “prime buying” phase. According to Santiment, more than 85% of the altcoins they track are currently positioned in what is historically considered a “buying opportunity zone.” Sentiment And Technical Indicators Favor Altcoins This assessment is based on the Market […]
Solana developers are gearing up for a crucial update scheduled for April 15 aimed at resolving the pressing issue of network congestion. This move comes in the wake of transaction failures skyrocketing due to an “implementation bug” as elucidated by Mert Mumtaz, CEO of Helius Labs. Helius Labs is at the forefront of providing backend […]
On-chain data on April 5 shows that the Cardano Treasury is rapidly growing even as ADA prices struggle to shake off determined sellers. Currently, the treasury holds over 1.48 billion ADA worth over $843 million at spot rates. If adoption projections are anything to go by, the figure could exponentially increase in the coming months, possibly propping […]
The Solana network has been experiencing unprecedented levels of congestion, leading to a record failure rate of transactions. According to data from Dune Analytics, on April 4, more than three-quarters of all “non-vote” transactions on Solana failed. This surge in failed transactions coincides with a significant increase in network activity, driven largely by the recent […]
2024 has proven to be a lucrative year for the average investor, according to recent data unveiled by CoinLedger. The platform’s data reveals a notable surge in the average crypto portfolio, with gains totaling $2,804 thus far. This notable increase starkly contrasts with the modest average realized gains of less than $1,000 observed throughout 2023. […]
Recent market dynamics have seen Solana struggling to break above the $200 mark. A notable bearish factor among these market fundamentals is the recent reports of the estate of bankrupt cryptocurrency exchange FTX selling its $7.65 billion worth of Solana at a 68% discount to its current market price. However, on-chain data indicates SOL is […]
Last week, the crypto investment landscape witnessed a significant exodus of capital from global crypto funds. A recent report from CoinShares highlighted nearly $1 billion net outflow from these funds, marking a historic departure from a 7-week inflow streak that had cumulatively amassed $12.3 billion. A Closer Look At The Outflows The magnitude of these […]