Blockchain Archives - Cryptolifedigital

Terra Classic Community Rejects Gas Fee Hike, LUNC Price Takes a Hit

25Apr

By CryptolifedigitalNo Comments

Blockchain

Terra Classic Community Rejects Gas Fee Hike, LUNC Price Takes a Hit

The Terra Classic (LUNC) community has resoundingly rejected a proposal (Prop #12095) that aimed for a tenfold increase in gas fees. While initial support existed, the proposal ultimately fell due to concerns over its negative impact on the ecosystem. This shift in sentiment has also affected the price of LUNC, the native token of Terra Classic. Read Also: Robinhood Opens Up Shiba Inu, Avalanche, and Compound Trading for New York Residents https://twitter.com/LUNA_CLassic_/status/1783087481946357937?t=rDuOyGlsz_UEPOshXptGwA&s=19 Steep Gas Fee Hike Opposed The proposed gas fee hike aimed to revitalize the Terra Classic ecosystem. However, the community voiced strong opposition through various channels, including a post from the LUNC community channel. Key concerns included: R...

Crypto Update: Whale Acquires 211 Billion PEPE Tokens Due to Bitcoin Halving

25Apr

By Kayode Oke MichaelNo Comments

Blockchain

Crypto Update: Whale Acquires 211 Billion PEPE Tokens Due to Bitcoin Halving

Pepe [PEPE], a token with a frog-themed meme, has recently experienced a significant surge in value. This has attracted the attention of a whale investor who has purchased a staggering 211.6 billion PEPE tokens, which is currently worth $1.6 million. The investor acquired these tokens from Binance [BNB], Gate.io, and Uniswap [UNI] within the last 24 hours. https://twitter.com/spotonchain/status/1782951147021779335 Read Also: Stablecoin Market Surges to $160 Billion, Marking Post-Terra Collapse High The purchase has resulted in an unrealized profit of almost 4%. It is worth noting that this is not an isolated occurrence, as large transactions exceeding $100,000 have become increasingly common since the Bitcoin [BTC] halving. Santiment's data shows a steady increase in...

Stablecoin Market Surges to $160 Billion, Marking Post-Terra Collapse High

24Apr

By OLAJIDE SAMUELNo Comments

Blockchain

Stablecoin Market Surges to $160 Billion, Marking Post-Terra Collapse High

The market capitalization of stablecoins, cryptocurrencies pegged to fiat currencies like the US dollar, has reached $160 billion this week. This milestone signifies a significant recovery for the stablecoin market, reaching a level last seen in May 2022, just before the dramatic collapse of Terra's UST stablecoin. Read Also: Terra Classic Community Revives Network with IBC Restoration Stablecoin Market Booms: Supply Growth Drives Expansion Since December 2023, the stablecoin market has witnessed a substantial increase of $28.63 billion. This surge can be attributed to the rising supply of several dollar-pegged coins, with major players like Tether (USDT) and USD Coin (USDC) experiencing significant growth. Tether, the industry leader, boasts a market cap of $109.9 billion, while USDC...

Breaking News: Terra Labs & Do Kwon Slapped with $5.2 Billion Fine for Crypto Fraud

23Apr

By Kayode Oke MichaelNo Comments

Blockchain

Breaking News: Terra Labs & Do Kwon Slapped with $5.2 Billion Fine for Crypto Fraud

Terraform Labs and its former CEO, Do Kwon, have been found guilty of breaching the Securities Act of 1933 by selling crypto assets without proper registration. The trial lasted nine days, and the verdict has sent shockwaves through the digital finance community, underscoring the challenges of regulatory compliance in the crypto world. Read Also: Terra Classic (LUNC): Community Hopeful for Rebound in 2024 Evaluating the Verdict The Director of the Securities and Exchange Commission (SEC), Gurbir S. Grewal, praised the jury's decision as a significant win for investor protection. Terraform Labs and Kwon were accused of providing false assurances about the stability of Terra USD and its blockchain usage, resulting in substantial investor losses and a notable decline in market confidence...

Solana Surges Past $150, Analyst Eyes $200 But Meme Coin Woes Linger

23Apr

By OLAJIDE SAMUELNo Comments

Blockchain

Solana Surges Past $150, Analyst Eyes $200 But Meme Coin Woes Linger

Solana (SOL) is on a roll, recently surpassing the key resistance level of $150 and exhibiting a bullish trend. This positive performance is accompanied by rising market capitalization, trading volume, and investor interest. Solana's Climb SOL currently sits at $153, reflecting a more than 2% gain in the last 24 hours. Market capitalization has grown to $68 billion, a 2.60% increase. Trading volume has surged to $2.83 billion over the past day, highlighting increased investor activity. Looking at a broader timeframe, SOL boasts a 4% uptick over the past week and a staggering 606% increase over the past year, solidifying its upward trajectory. The overall trend remains positive despite some fluctuations between $130 and $157. Analyst Predictions and Price Targets Analysts are cautiou...

Telegram Founder Made Known Intention To Leverage The Open Network (TON) Expanding Functionality And Features

22Apr

By Daniel AbangNo Comments

Blockchain

Telegram Founder Made Known Intention To Leverage The Open Network (TON) Expanding Functionality And Features

During his statement at the Token2049 conference in Dubai, Pavel Durov, the founder behind Telegram, communicated his commitment to blockchain technology and divulged aggressive designs for the application's future. Durov stressed blockchain's ability to promote freedom and privacy, featuring Telegram's liking for these qualities. He declared intentions to use The Open Network (TON) to extend functionality and present innovative elements. Read Also: Dogecoin’s Battle with Resistance Levels: Insights and Analysis Rather than other major messaging and social media spaces that offer users' information to promoters, Telegram has embraced an alternate way for monetization. The organization as of late revealed plans to share income to content creators through its Ad Network. Durov d...

What Factors Contributed to the 15% Surge of Solana’s Top Meme Coin?

19Apr

By Kayode Oke MichaelNo Comments

Blockchain

What Factors Contributed to the 15% Surge of Solana’s Top Meme Coin?

In the past few days, the cryptocurrency market has witnessed considerable volatility. Despite starting to recover on April 18, most of the leading digital assets experienced a significant plunge following reports of a missile and drone attack in Iran by Israel. Bitcoin (BTC) was among the worst hit, with its value dropping below $60,000 for the first time in nearly two months. WIF Stands Among the Best Performers However, the market rebounded remarkably, and on April 19, most cryptocurrencies were in the green zone. One of the best performers of the day was the meme coin, Dogwifhat (WIF), built on the Solana blockchain. It rose by about 15% in a 24-hour timeframe. Read Also: Solana Eyes Post-Patch Rebound, Meme Coins and Investor Optimism Fuel Speculation Coinbase's decision t...

Borroe Finance Surges as Solana Faces Downturn

19Apr

By CryptolifedigitalNo Comments

Blockchain

Borroe Finance Surges as Solana Faces Downturn

The Solana (SOL) cryptocurrency, currently the fifth largest by market capitalization, has been on a downward trend. In the past two weeks, SOL has lost more than 28% of its value, dropping from $180 to $137. Veteran analyst Peter Brandt identified a bearish descending triangle pattern on Solana's chart, suggesting a possible continuation of the downtrend. Read Also: Solana Eyes Post-Patch Rebound, Meme Coins and Investor Optimism Fuel Speculation Borroe Finance Emerges While Solana experiences a slump, Borroe Finance (ROE) is gaining traction. Borroe Finance is a new DeFi project aiming to revolutionize web3 financing. Their solution tackles the issue of irregular cash flow for web3 businesses by providing immediate access to capital through a peer-to-peer marketplace. Unique Web3 F...

Solana Eyes Post-Patch Rebound, Meme Coins and Investor Optimism Fuel Speculation

18Apr

By OLAJIDE SAMUELNo Comments

Blockchain

Solana Eyes Post-Patch Rebound, Meme Coins and Investor Optimism Fuel Speculation

Solana is back in the spotlight after deploying a patch to address network congestion issues. This move coincides with plans to transition the network from its beta phase to the final mainnet version. With these developments underway, investor sentiment appears to be turning bullish, fueled by potential benefits for Solana-based meme coins and the token's overall price trajectory. Read Also: Bitcoin Halving Looms: Crypto Market Braces for Potential Surge, Cardano (ADA) in Focus Network Improvements and Mainnet Transition Solana implemented a patch on April 15th to tackle network congestion. This aligns with the upcoming transition from the beta phase to the final mainnet version, signifying a more robust and scalable network. Additionally, the scheduled release of the Agave validator ...

Solana Shines as Top Crypto Prices Rebound

17Apr

By CryptolifedigitalNo Comments

Blockchain

Solana Shines as Top Crypto Prices Rebound

Relief washed over the cryptocurrency market today as major coins, including Solana (SOL), staged a notable comeback. While Bitcoin (BTC) hovered near the $64,000 mark and Ethereum (ETH) surpassed $3,100, Solana emerged as a top performer with a surge of over 7%. Solana Surges Past $140 SOL defied recent bearish trends, climbing 7.76% to settle comfortably above $140 at $142.59. This positive movement comes after a period of correction for Solana, but today's rebound signals renewed investor confidence. Despite the price increase, trading volume dipped slightly by 13.46% to $4.94 billion in the last 24 hours. Read Also: Ripple vs. SEC Lawsuit: Final Pretrial Conference Off, But Case Heats Up Broader Market Recovery Solana's positive performance mirrored a broader market upswing. Bit...