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Crypto
ETH,BNB,SOL
Chiliz(CHZ)

$0.10

-1.04%

Market Cap
898.29m
 

-1.04%

Volume (24h)
50.13m
 

-19.92%

Released on 01 Jul 2019
Crypto
ETH,SOL
Convex Finance(CVX)

$3.03

4.16%

Market Cap
283m
 

4.16%

Volume (24h)
10.88m
 

-47.26%

Released on 18 May 2021
NFT
Influence Asteroids
Floor Price
0.03 ETH
Total Volume
1.29k ETH
Minted on 04 Apr 2021
The Cryptonomist
The Cryptonomist
followers

Charles Hoskinson, co-founder of Cardano and Ethereum, in a recent video published on his personal account X, stated that he is concerned about the growing influence of legacy systems from traditional finance on the crypto world. In particular, the American computer scientist and entrepreneur is concerned about the expanding dominance of the famous collateral-backed stablecoins, which cover the largest share of trading volume on crypto exchange platforms. All the details below. Cardano: Hoskinson warns the crypto sector about the influence of legacy systems Charles Hoskinson, a historical figure in the crypto sector for his contributions as co-founder of the Cardano and Ethereum blockchains, recently expressed his concern about the widespread influence of legacy systems on the cryptographic world. In a video dated February 12 titled “Legacy is Eating Crypto,” published by Hoskinson himself, the computer scientist spoke about the need for the crypto community to reject the threats of centralized systems typical of traditional finance. Legacy is Eating Crypto https://t.co/36mn4sltef — Charles Hoskinson (@IOHK_Charles) February 12, 2024 In detail, he pointed the finger at the sector of stablecoins covered by guarantees, such as USDT and USDC, which are taking a dominant position in the digital asset market. The founder of Cardano has emphasized how although stablecoins represent only about 10% in value of the total market capitalization of the entire crypto industry, these absolutely dominate the volume of on-chain transactions, covering about 70% of the total market share. As literally described by himself, the influence of these resources takes on greater importance compared to that of BTC and ETH. “So, from a cryptographic point of view, Ethereum and Bitcoin take a back seat compared to USDC and USDT“. Stablecoins, as Hoskinson argues, are centralized by central control imposed by various international jurisdictions, and could have a negative impact on the future of cryptocurrencies. This centralized influence could indeed dictate the direction of DeFi economies, undermining the decentralized essence on which the sector itself is based. Hoskinson proposes as an alternative solution the so-called algorithmic stablecoins, governed by on-chain algorithms and free from the influence of central authority, being more in line with the decentralized ethics of crypto. The problem for this kind of resources is that, having a past stained by the downfall of the algorithmic stablecoin UST, they are now struggling to gain the trust of investors and are generally considered “very risky”. This concern of the host Cardano is added to that related to the influence dictated by the arrival of Exchange Traded Funds (ETF) bitcoin spot on Wall Street. The new Fund Managers who are offering exposure to bitcoin to their clients could further centralize a sector that is increasingly moving in this direction, with the latest regulations in the USA and Europe pushing for a move away from open source and anonymity (see cases Tornado Cash and Monero). The essence of Hoskinson’s message is therefore a general warning against the potential slide of the cryptocurrency sector towards centralization and control by pre-existing financial entities. At the end of the video where he expressed his thoughts, he closes with an emblematic phrase: “You should be able to participate in markets without fear of censorship and exclusion. This is the foundation of the revolution that cryptocurrencies are, and none of this means anything if we hand over all these things to legacy actors.” The state of the Cardano market in 2024 While Charles Hoskinson is concerned about the risks arising from the influence of legacy systems in the crypto world, his Cardano blockchain is growing at a very fast pace but still lags far behind the rest of the sector. According to a recent study by the web3 research company Messari, Cardano’s TVL in Q4 2023 increased by 166% compared to the previous quarter, recording a +693% on an annual basis. The locked capitals within the network remain very small compared to the rest of the resources present on Ethereum, Tron, Solana, BSC, Arbitrum, etc. Cardano is in fact ranked 14th on the list of chains with the highest TVL, with a total value of 384 million dollars, even lower than that of the layer-2 Base. The value of ADA has increased by 127.2% on a quarterly basis, surpassing the overall increase of the cryptocurrency market by 53.8%, but still remaining significantly overshadowed compared to the price action of Bitcoin. We notice that compared to a year ago, the ADA/BTC ratio is lower by about 28%, while the ADA/ETH ratio is depreciating by 14%. The development of recent technological innovations is helping Cardano to stand out in the strong competition of cryptocurrencies, where the influence of external investors is strongly felt. The recent specifications released for the Midnight sidechain and the evolution of infrastructures like SanchoNet, Hydra, and Mithril are well received by the Cardano crypto community but do not solve the gap between the DeFi of other chains and that of the Hoskinson network. The development of decentralized applications on Cardano is indeed very behind compared to the rest of the sector. However, the decentralized network records encouraging signals from the point of view of average daily transactions, which have increased by 10.9% on a quarterly basis, giving a glimmer of hope for the future. The metric of active addresses is also constantly growing from last year, suggesting that experienced users are increasing and could multiply over time. Overall, the Transactions/Active Addresses ratio for the fourth quarter, equal to 1.60, increased by 9.2% on a quarterly basis and by 45.0% on an annual basis.

8 days ago
Crypto
Decred(DCR)

$16.14

5.02%

Market Cap
255.58m
 

5.02%

Volume (24h)
10.25m
 

716.88%

Released on 10 Feb 2016
Bitcoinist
Bitcoinist
NFT
Influence Crew
Floor Price
0.05 ETH
Total Volume
746.66 ETH
Minted on 07 Sep 2021
Crypto
Suiswap(SSWP)

$2.67e-3

8.74%

Market Cap
23.58m
 

8.74%

Volume (24h)
11.86m
 

2.18%

Released on 13 Jun 2023
Crypto
BNB,ETH
ChainGPT(CGPT)

$0.19

4.05%

Market Cap
74.50m
 

4.05%

Volume (24h)
13.40m
 

50.02%

Released on 10 Apr 2023
Crypto
BNB,ARB
MOBOX(MBOX)

$0.28

1.13%

Market Cap
75.67m
 

1.13%

Volume (24h)
5.18m
 

-76.60%

Released on 08 Apr 2021
ZyCrypto
ZyCrypto
followers

Charles Hoskinson, the founder of Cardano, has issued a stark warning about the dangers of centralization in the cryptocurrency industry. Speaking during a live broadcast titled “Legacy is Eating Crypto” on Monday, Hoskinson cautioned that the growing influence of a small number of powerful actors could undermine the core principles of cryptocurrency, such as decentralization, privacy, and equality. Notably, the pundit highlighted the rapid growth of stablecoins, such as Tether (USDT) and USD Coin (USDC), which now account for approximately 70% of all on-chain transaction volume. According to Hoskinson, these stablecoins, backed by traditional assets, are subject to the regulations of their jurisdictions and central issuers, creating potential vulnerabilities and centralization risks. “USDT and USDC…are asset backed which means that there’s a central issuer. There is a company who is regulated in a jurisdiction subject to that jurisdiction’s rules and regulations, and whatever that jurisdiction wants to put upon that company, permissive or otherwise, they are subject to it cannot get out of it,” said Hoskinson. In contrast, Hoskinson advocated for algorithmic stablecoins, which are not backed by traditional assets and operate decentralised. Notably, algorithmic stablecoins, such as DAI, maintain their value through algorithms and smart contracts without relying on a central issuer or traditional assets. However, the crypto market has been cautious since the TerraUSD (UST) de-pegging incident in May 2022, which raised concerns about their safety and caused a ripple effect on the broader crypto market. Despite the risks, algorithmic stablecoins offer advantages such as decentralization, autonomy, and potentially higher yields. Developers have thus been improving their design and functionality, positioning them as a potentially significant force in the cryptocurrency market. Hoskinson also criticized the increasing power of a small number of Legacy actors, including centralized exchanges, regulated institutions, and ETF holders like BlackRock, who control a significant portion of the value flow in the cryptocurrency market. He argued that these entities have the power to decide the future of cryptocurrency projects, as they can influence listings, liquidity, and regulatory compliance. “As more of these Legacy actors come in, they’ll acquire more and more of the supply. They already have a fifth of what Satoshi has,” Hoskinson added. “10 Legacy regulated institutions control the vast majority of your value flow and also get to decide the future of all of these projects.” That said, Hoskinson emphasized the importance of preserving the core values of cryptocurrency, including freedom of association, commerce, and expression, and the need to resist the encroachment of legacy actors in the industry. He further urged the community to remain vigilant and to consider the long-term consequences of centralization and the potential erosion of the core values of the cryptocurrency movement. Notably, Hoskinson has consistently advocated for decentralization, even as Cardano continues to receive improvements aimed at promoting security, scalability, and sustainability while empowering users and developers with greater control and autonomy.

7 days ago
A4P-PRIYA
A4P-PRIYA
followers

How Bitcoin Halving influence BTC Bitcoin halving is a prescheduled event where the reward for mining and verifying new blocks is reduced by 50% and miners earn only half the number of BTC per mined block. Scheduled to take place every 210,000 blocks, or approximately every four years, Bitcoin halvings continue until the network has produced the maximum total supply of 21 million BTC. What Happens When Bitcoin Halves? When Bitcoin halves, the reward for mining a new block is cut in half. This reduces the rate at which new BTC are created, effectively lowering the inflation rate of the cryptocurrency. The halving event occurs approximately every four years and is part of Bitcoin's controlled supply, aiming to limit the total number of BTC to 21 million Bitcoin Halving History The mining reward started at 50 BTC per block when Bitcoin was released in 2009. Since then, there have been three halvings. The first Bitcoin halving occurred in November 2012, reducing the mining reward from 50 to 25 BTC. The second halving in July 2016 cut it further to 12.5 BTC. In the third halving in May 2020, the reward was again halved to 6.25 BTC per block. These halvings are integral to Bitcoin's scarcity and inflation control, ensuring that the total supply will never exceed 21 million, aligning with its deflationary principles. First Halving November 28, 2012 On the day of the halving, the price of Bitcoin was approximately $12. Six months later, around May 28, 2013, the price had risen significantly to about $130, showcasing a substantial increase. Second Halving July 9, 2016 The price of Bitcoin was around $660 on the day of the halving. Around January 9, 2017, the price increased to about $900, indicating a considerable growth in value over six months. Third Halving May 11, 2020 Bitcoin's price was approximately $8,600 on the day of the halving and it rose to over $15,700 six months later, around November 11, 2020. #BTC‬ #BitcoinHalvingEvent

13 days ago
The next bull run
The next bull run
followers

🚨🚨🚨Why everyone gets scared to buy higher valued coin including me when I started? I regret everyday for not selecting Bitcoin and Ethereum instead of I selected Shibainu. I feel so shame on myself. If i had invested same on Ethereum I would have been billionaire by now. 🚑So, please try to understand that only the creators, politicians, Whales, Bug shots and influencers only will earn on meme coins. For normal people like us, only the standard coins can only make us rich instead of loosing everything by scam coins. So, 30% on $ETH Ethereum, 20% on $ADA Cardano , 10% on XRP $XRP , 10% on Solana, 15% on BNB because no other exchange can cross binance what ever it is. Remaining 15% , the most famous meme coin Doge 5% and 10% on Tron I will give you some reason which I know: 🚑1. Risk of loss: Higher-valued cryptocurrencies often come with higher price volatility. People may be scared of losing a large amount of money if the price of the cryptocurrency suddenly drops. 🏎️2. Fear of Missing Out (FOMO) Some individuals might be scared to buy higher-valued cryptocurrencies because they fear that they have already missed the opportunity to make significant gains. They may worry that the price could crash soon after they invest. 🚜3. Lack of Understanding : Investing in cryptocurrencies, especially higher-valued ones, can be complex and confusing. Some people may feel scared to buy these assets because they don't fully understand how they work or the factors that can influence their price movements. 🚲5. Psychological Factors : People's emotions and psychological biases can also play a significant role in their decision-making when it comes to investing. Fear, uncertainty, and doubt (FUD) can lead individuals to avoid buying higher-valued cryptocurrencies. Part 1 #ETH #xrpbullish #ADAAnalysis #Tron #Write2Earn

7 days ago
NFT
Bad Influence 0x
Floor Price
0.03 ETH
Total Volume
1.02k ETH
Minted on 25 Jul 2022
Crypto
Market Cap
29.81m
 

-0.95%

Volume (24h)
7.20m
 

-59.57%

Released on 24 Jun 2020
CoinQuest
CoinQuest
followers

Top Altcoins to Stack for 100x Gains This Bull Season🤯 With the cryptocurrency market experiencing a boom and Bitcoin trading above $50k, many investors are hopeful for an altseason in 2024. As Bitcoin’s influence fades and other cryptocurrencies gain popularity, there’s a chance that alternative coins could see a price increase. Analyst Brian Jung predicts the major potential for various cryptocurrencies, suggesting that some could see gains of 20x, 30x, 40x, or even 100x during this market cycle.  Jung discusses various narratives in the cryptocurrency market, starting with gaming coins like Gala Games, which he believes have potential due to their active development and strong concepts. He mentions that he invested in Gala Games during the last cycle and sees its growth potential. The analyst also discusses infrastructure tokens like Beam and Immutable X, which support crypto-gaming projects. He mentions that he recommended Beam to his Discord group when it was at a penny, which has since doubled in value. Next, Jung discusses AI-based projects, such as Render and Arkham Intelligence, which he sees as having significant potential due to their partnerships and solid community support. He advises investors to be cautious of projects like ICP, which experienced significant losses due to VC manipulation. Jung then explores the narrative of real-world assets, mentioning VeChain as an early adopter in this space. He suggests looking into newer projects like Rio, which he believes have significant growth potential. He also discusses the importance of interoperability tokens like Avalanche and Chainlink, which facilitate project connections. Jung then discusses meme coins, their high-risk nature, and their potential for significant returns. He mentions Dogecoin’s rise to prominence and advises caution when investing in meme coins, suggesting selling after profits. #Write2Earn #TrendingTopic

7 days ago
Cryptopolitan
Cryptopolitan
followers

Amidst ongoing scrutiny stemming from the Ripple vs. SEC lawsuit, Ripple’s Chief Technology Officer, David Schwartz, recently addressed concerns regarding the company’s utilization of trading bots from GSR for its XRP sales program.  The revelation follows the emergence of documents from the lawsuit shedding light on Ripple’s programmatic sales practices, particularly an email exchange between market maker GSR and Ripple’s team. The rationale behind the utilization of trading Bots In response to heightened scrutiny, David Schwartz provided insight into Ripple’s decision to employ trading bots from GSR for its XRP sales program. Schwartz clarified that while he lacked privileged insight into the specific email discourse with GSR, Ripple’s choice to delegate sales to external entities was strategic. He speculated that this move aimed to mitigate accusations of insider trading and price manipulation. Schwartz emphasized that by entrusting entities like GSR with sales, Ripple sought to ensure compliance and avoid direct involvement in the market, thereby reducing the risk of regulatory repercussions.  He pointed out the absence of specific allegations of price manipulation in the SEC charges against Ripple, suggesting legitimacy in their sales practices. The response fails to appease the XRP community Despite Schwartz’s efforts to offer clarifications, members of the XRP community remain unconvinced. The debate persists, with continued scrutiny of Ripple’s broader endeavors to bolster XRP’s price. The community’s skepticism highlights the need for transparency and accountability in Ripple’s sales practices. Notably, shortly after halting XRP sales through GSR’s trading bots, XRP surged significantly to its all-time high. This has fueled speculation among community members that the preceding sales had suppressed the asset’s price. The speculation underscores the delicate balance between market dynamics and the influence of external factors on XRP’s valuation.

7 days ago

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