Crypto Guides, Knowledge & Insights

Tim Draper Still Very Optimistic On Bitcoin With $250,000 Price Target

Tim Draper stands by his $250,000 BTC price prediction, possibly by 2025.　　Recent SEC actions driving entrepreneurs away from the U.S. are seen as a factor impacting BTCs price.　　Draper emphasizes BTCs value as a future mainstream currency with transparent blockchain operations.　　Renowned investor Tim Draper remains resolute in his belief that Bitcoin (BTC) will eventually reach $250,000, albeit with a revised timeline.　　Although Draper‘s previous prediction for June 2023 did not materialize, the billionaire venture capitalist asserts that BTC’s ascent to the target price might take a bit longer, potentially happening by 2025.　　Speaking on Bloomberg TV, Draper reaffirmed his optimistic outlook, emphasizing that BTC is here to stay despite recent regulatory actions against crypto companies by the U.S. Securities and Exchange Commission (SEC). According to Draper, these enforcement measures have forced entrepreneurs out of the United States, resulting in a negative impact on BTCs price.　　“I wasn‘t really expecting for the U.S. bureaucracy to be this aggressive and I thought that maybe they would be recognizing that they got to compete with the rest of the world. They’ve got to provide a platform from which entrepreneurs can flourish, and by having this regulation by enforcement that the SEC has been professing and driving, its

2023-07-12Deep Dive

FTX Opens Inquiry Gate For Creditors, FTT Price Volatile

Bankruptcy crypto exchange FTX has announced a portal that allows users with cash to file claims.　　Those who wish to claim assets on the exchange must provide the required evidence to prove ownership of the assets on the platform.　　The price of FTT is up 15% in the last 24 hours, currently delivering at $1.6.　　After a long wait, the FTX exchange has announced an electronic portal that allows users with money to file for property claims.　　Sam Bankman-Fried‘s bankrupt cryptocurrency exchange has officially launched its customer claims portal. According to the website information, individual customers can access their account information and then submit an application to be included in the crypto exchange’s Chapter 11 bankruptcy proceedings. The site will be open to customers with accounts at FTX.com, FTX US, Blockfolio, FTX EU, FTX JP and Liquid.　　A screenshot of the website shows that the person who wants to claim assets on FTX must provide evidence to prove that they own money on the exchange, including:　　Account holder identification information and identity verification;　　Information about transaction history;　　Verify account balance by submitting proof to FTX takeover – with balance as of 09:00 PM on 11/11/2022 (when this exchange announced bankruptcy).　　According to information from users, the website seems to

2023-07-12Deep Dive

Linea Concludes 9-Week Voyager Campaign, Offers NFT Rewards to Participants on Mainnet

Linea announced yesterday the successful conclusion of its 9-week Voyager campaign on July 9, 2023. During Voyager, Lineas testnet witnessed a transaction volume of over 30 million and attracted 5.2 million unique addresses actively engaging in tasks on the Linea platform. The task activity page received over 90 million views.　　Linea is a Layer 2 network with zero-knowledge proof technology launched by Ethereum software giant ConsenSys. Alongside the conclusion of the Voyager campaign, Linea announced its plans to recruit launch partners and release the Alpha version of its mainnet during ETHCC.　　According to Lineas official statement, Linea combines the powerful functionality of zero-knowledge proofs with full Ethereum Virtual Machine (EVM) compatibility, allowing builders to create scalable decentralized applications (dApps) or migrate existing applications without the need to modify code or rewrite smart contracts. The alpha version offers increased throughput and transaction fees that are 15 times lower than Ethereum Layer 1 (L1).

2023-07-12Deep Dive

Lens Protocol to Launch V2 Version During EthCC Conference

Web3 social protocol Lens Protocols founder Stani Kulechov has announced in a post that the Lens Protocol V2 version will be launched during the ETHCC (Ethereum Community Conference) held in Paris.　　Lens Protocol is a composable decentralized social graph built on the Ethereum Layer 2 network Polygon. It makes it easy to build social media platforms, allowing creators to focus on creating exceptional experiences for their user base rather than scalability. Leveraging NFT technology, social applications supported by Lens enable users to have full ownership of their data and interactions with others, unlocking new ways for creators to monetize their digital content and empowering everyone to own their relationships with friends and followers.　　In summary, Lens Protocol binds users personal information, social graph, and content in an NFT-based manner. Developers can leverage modular components to build various social protocols, and external applications can also integrate with Lens Protocol.　　Lens Protocol, founded by Stani Kulechov, the creator of the leading lending protocol AAVE, operates in the social space and has not yet launched its own token. Previously, Stani Kulechov made a joking remark on Twitter that he was the new interim CEO of Twitter, which led to a temporary suspension from Twitter and being

2023-07-12Deep Dive

Standard Chartered Bank Now Forecasting $120,000 Bitcoin Price By 2024

Standard Chartered Bank predicts that Bitcoin will reach $50,000 by the end of this year and $120,000 by the end of 2024, revising its previous projection of $100,000 by 2024.　　The bank expects Bitcoin hoarding by miners to increase, leading to reduced net supply and higher prices.　　The BlackRock effect, driven by BlackRocks application for a spot Bitcoin exchange-traded fund (ETF), has contributed to a more positive mainstream view of Bitcoin, with other asset managers following suit.　　According to Reuters, prominent multinational British bank Standard Chartered predicts that the flagship cryptocurrency, Bitcoin, will hit $50,000 by the end of this year. In terms of greater peaks, the banks experts predict that Bitcoin will reach $120,000 by the end of next year, 2024.　　Standard Chartered Bank has amended its prior projection of a $100,000 Bitcoin price by the end of 2024, citing the conclusion of the “crypto winter.” But, the banks chief foreign currency expert, Geoff Kendrick, said that the prior projection had a 20% upside owing to Bitcoin miners hoarding more BTCs. This higher prediction comes as experts at the bank expect increasing Bitcoin hoarding by miners.　　“Increased miner profitability per BTC (bitcoin) mined means they can sell less while maintaining cash inflows, reducing net

2023-07-11Deep Dive

Justin Sun Liquidates 30,000 ETH From Lido, Holds $491.6M in Staked Holdings

Prominent blockchain entrepreneur Justin Sun withdraws 30k ETH ($56M) from Lido platform.　　Sun still holds 263k ETH ($491.6M), demonstrating continued interest in Ethereum ecosystem.　　Sun earned 5,194 ETH ($9M) and 4.87% annual percentage yield (APY) through staking activities.　　Two addresses associated with Justin Sun, the prominent blockchain entrepreneur and founder of TRON, have withdrawn a substantial amount of Ethereum (ETH) from the Lido platform.　　The withdrawals, totaling 30,000 ETH, amounted to an estimated value of $56 million. The transactions took place just one hour ago, according to blockchain data.　　Despite the recent withdrawals, Justin Sun still holds a significant stake in Ethereum. Currently, he has 263,294 ETH, valued at approximately $491.6 million. The substantial holdings demonstrate his continued interest and confidence in the Ethereum ecosystem.　　Justin Sun had previously staked a considerable amount of ETH in Lido. Between February 25 and February 27, he staked a total of 288,100 ETH, equivalent to approximately $538 million at the time. As a result of his staking activities, Sun earned a considerable amount of additional ETH. In total, he earned 5,194 ETH, valued at approximately $9 million.　　Moreover, the staking activities allowed Justin Sun to generate a daily income of 38 ETH, equivalent to approximately $72,000. Based on the data

2023-07-11Deep Dive

Web3 Ventures Investment Q1/2023 About $2.8B, Down 80% YoY: Report

Data shows that Web3 ventures in the first quarter of 2023 about $2.8 billion down 80% from the same period last year.　　The figure is estimated at around $4 billion by the end of Q2 and may not be reached due to the challenging market.　　According to The Block, research data by K33 Research shows that Web3 ventures in the first quarter of 2023 fell 80% year-on-year to just $2.8 billion.　　Anders Helseth, managing director at K33 Research, said that if you look at Web3 and crypto totals, venture capital investment in the first half of 2022 will be $15 billion. However, that figure is estimated at around $4 billion in the first and second quarters of this year and could fall further.　　As previously reported, a study by analytics firm K33 Research showed that the number of jobs in the crypto industry has dropped by 10% over the past year (about 190,000 to 210,000).　　Nearly 30% of the 190,000 crypto workers live in the US and Asia, and Australia together comprise around 35% of the global crypto workforce. India accounts for 20% of Asia‘s jobs, more than China. Meanwhile, mainland Europe is home to 24% of the world’s crypto jobs, with the UK leading

2023-07-11Deep Dive

AAVE Community Initiates "GHO Mainnet Launch" Proposal

What is GHO？　　GHO is a decentralized, collateral-backed, USD-pegged stablecoin native to the Aave DAO. The concept of the GHO stablecoin was introduced by the AAVE community in 2022, and the formal proposal for its launch began on July 10, 2023.　　The proposal suggests introducing GHO to the Ethereum mainnet through the Aave V3 Helper and FlashMinter Helpers. This will enable Aave V3 users on Ethereum to mint GHO using their collateral. The financial framework of GHO will be managed in a decentralized manner by the Aave DAO, allowing the DAO to change the interest rate of GHO at any time through the governance process.　　The launch of GHO has several impacts on the protocol:　　As the native stablecoin of AAVE, GHO can generate additional income for the protocol. All interest earned from lending GHO will go to the AAVE treasury.　　As a leading protocol in the DeFi lending space, the introduction of GHO expands the ecosystem of AAVE, making it more comprehensive.　　The empowerment of AAVE token is strengthened, as stkAAVE holders can enjoy reduced borrow rates.　　This article does not constitute investment advice. The information provided is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments carry inherent

2023-07-11Deep Dive

Execution of QuickSwap's Native Token $QUICK Split Proposal Leads to Short-Term Price Surge

The QuickSwap community conducted a vote on token split ratio from March 12th to 17th this year. The proposal to split QUICK at a ratio of 1:1000 was approved by the community. The original total supply of QUICK was 1 million tokens, and after the split, the total supply will increase to 1 billion tokens.　　On July 9th, the official team updated the user interface (UI), allowing QUICK holders to convert their QUICK (Old) tokens to the new QUICK tokens. The official link currently supports the conversion of QUICK tokens on the Polygon network.　　Subsequently, on July 10th, Binance announced its support for the token swap and incremental issuance of QuickSwap (QUICK) tokens. As a result, the QUICK token experienced a significant increase of over 35% within a short period of time.

2023-07-11Deep Dive

Binance's Latest Launchpad Project Arkam Conducts Airdrop Snapshot on July 8th

Binances latest Launchpad project, Arkam, has announced that the airdrop snapshot was conducted on July 8th. Accounts identified as witch attackers or attempting to manipulate the system have been flagged and disqualified. The airdrop will go live on Tuesday, July 18th, and users can claim their tokens through the dashboard.　　Arkam is an on-chain data platform that integrates on-chain address labeling, individual token analysis, and visualization tools. It also offers a unique bounty program where buyers can request information from the community through bounties, and bounty hunters can submit the requested information to earn rewards.　　ARKM is the native token of Arkam, with a total supply of 1 billion tokens. 5% of the tokens are allocated for Binances Launchpad, and the initial circulating supply is 150 million tokens (15%).　　Arkham has faced criticism within the crypto community for its reputation of privacy vulnerabilities and centralization concerns. Here are some points that have been raised:　　Arkhams URL for recommended code in the private beta version is prone to exposing email addresses.　　The intel bounties feature allows users to anonymously publish and accept bounties for blockchain transaction information. Once a bounty is completed, any entity that paid the bounty will have exclusive access to the data for

2023-07-11Deep Dive

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