Crypto Guides, Knowledge & Insights

CZ unfollows Elon Musk on Twitter

News has spread on Twitter that the head of Binance has stopped following Elon Musk.　　Today, several crypto-focused accounts tweeted that Changpeng Zhao, the CEO, and co-founder of exchange Binance, unfollowed Elon Musks Twitter account.　　Twitter WhaleChart with nearly 400,000 followers claims that the news “caused a shockwave” in the crypto community.　　Twitter user Pauly0x, the founder of Not Larva Labs, stated that CZ doesnt like Elon Musks idea of launching a crypto wallet for Twitter.　　The aforementioned Twitter account believes that once Musk launches a crypto wallet for Twitter, PEPE will be its currency. News has spread on Twitter that the head of Binance has stopped following Elon Musk.　　Last October, Twitter announced that it started developing its own crypto wallet. Earlier, Twitter introduced tips in BTC and ETC for content creators.　　However, after Elon Musk closed the Twitter acquisition in late October, in early November, Twitter announced that it was suspending wallet development.

2023-05-16Deep Dive

Scam Alert: Mysten Labs Warns of Token Spam on Sui Wallets

Mysten Labs has issued a public warning regarding an ongoing scam targeting Sui Wallets. The Web3.0-focused startup has identified unauthorized transactions occurring within certain Sui wallets, accompanied by the presence of spam coins. Users are advised to exercise caution when encountering unfamiliar objects or activities within their wallets. Meanwhile, Mysten Labs is actively working to address any potential security breaches and enhance the overall security of the wallets.　　A screenshot of a message claiming that the recipient had won 1000 SUI tokens and needed to claim them was shared by a crypto Twitter user. Another Twitter user, identified as Kingsamiami, raised suspicions that a member of the Sui development team might have been involved in the breach, as such an incident was not intended to occur.　　Sui Network Launched its Mainnet Now Live　　Mysten Labs recently launched the mainnet of their highly scalable layer 1 blockchain, Sui Network. Shortly after its launch, the blockchain introduced its native token, which serves various purposes such as staking, gas fee payments, and governance. The token quickly gained traction and was listed on major cryptocurrency exchanges including Binance, OKX, Bybit, Kucoin, and Upbit, the latest addition. The total supply of the Sui token was recorded at 10

2023-05-16Deep Dive

Can Crypto trading bring about financial freedom in Nigeria?

By: Damian Okonkwo 　　Cryptocurrency in Nigeria 　　Nigeria is one of the leading countries in Africa in terms of cryptocurrency adoption and usage. According to a report by Chainalysis, Nigeria ranks third in the world in terms of peer-to-peer cryptocurrency transactions, with over $600 million worth of transactions in 2022. The popularity of cryptocurrencies in Nigeria can be attributed to several factors, including high inflation rates, limited access to traditional banking services, and a large population of tech-savvy young people.　　Can Crypto trading bring about Financial Freedom for Nigerians？　　Financial freedom refers to the ability to live the life you want without being constrained by financial obligations. In Nigeria, achieving financial freedom is a challenge for many people due to a variety of factors, including high unemployment rates, low wages, and limited access to financial services. Crypto trading presents an opportunity for Nigerians to earn passive income and achieve financial freedom.　　How Crypto Trading can bring about Financial Freedom　　A. High potential returns: Cryptocurrencies are known for their high volatility, which presents both risks and opportunities. For savvy traders who understand the market, cryptocurrency trading can provide high returns on investment. With the right strategy, traders can make significant profits in a short amount

2023-05-15Deep Dive

Dogecoin Network Activity Skyrockets, Attracts New Investors And Boosts Market Sentiment

Key Points:　　Dogecoin transactions hit new all-time high of 650,000, surpassing Bitcoin and Litecoin.　　Surge attributed to increased interest in new digital asset on Dogecoin network. ???? Many see this as an opportunity to test scalability and potential for everyday transactions　　Dogecoin, the meme-inspired cryptocurrency, has recently witnessed a massive surge in network activity, with daily transactions reaching an all-time high (ATH) of 650,000, surpassing both Bitcoin and Litecoin.　　This unexpected uptick in activity is attributed to an increased interest in minting DRC20 tokens, a new type of digital asset, on the Dogecoin network. According to some experts, this surge in activity is a clear indication of the growing popularity of DOGE and its potential to challenge established cryptocurrencies in the market.　　Dogecoin developer Patrick Lodder had previously hinted at a significant increase in network activity, indicating that the cryptocurrency had a lot of untapped potential. Although the surge was noteworthy at the time, it was nowhere near today‘s unprecedented levels. Many in the crypto community see this spike as an opportunity to test Dogecoin’s scalability and robustness in handling a large volume of transactions. One user, going by the handle @SK_R402, suggested that the focus should be on the currencys potential for everyday transactions,

2023-05-15Deep Dive

Tron's revenue in Q1, 2023 surpasses $90 million

Tron is seeing significant expansion.　　According to a new report from the company Messari, the Tron blockchain saw an increase in usage in the first quarter of 2023.　　The three-month average daily transactions rose 7.7% to about 7 million.　　Messari claims staking activity on the network is to blame for this increase. The total number of transactions stemming from staking activity increased by 197% quarter-on-quarter, despite accounting for just under 3% of all transactions on the TRX network.　　Network operations were mostly unaffected even though the SEC sued several projects in the Tron ecosystem.　　The TRX system generated total revenue of $90.04 million in Q1 of 2023, an increase of 88% compared to Q4 of 2022 ($47.96 million).　　In the first quarter of 2023, transaction fees also spiked. Statistics show that the average transaction fees in TRX and USD increased by 59.2% and 80.2% respectively.　　The State of Tron report states that trading activity on the network is mainly dominated by smart contracts that are activated and transfer TRX, which accounts for 88% of the total.　　Also in Q1, total value locked (TVL) in USD increased by 18.8%. But TVL by TRX recorded a slight decrease of 0.5%.　　The top protocols that makeup TVL on the Tron network –

2023-05-15Deep Dive

Wiki Finance Expo and Huobi's Strategic Partnership will Promote the Global Development of Cryptocur

In recent news, the renowned cryptocurrency trading platform Huobi has announced an exciting strategic partnership with Wiki Finance Expo. This collaboration aims to capitalize on the unique strengths of both entities, effectively enhancing brand visibility and trust surrounding Wiki Finance Expo Singapore 2023. Together, they aspire to explore the future of the crypto space, make significant contributions to the industry, and foster an atmosphere of growth and innovation.　　The upcoming Wiki Finance Expo Singapore 2023 is scheduled to take place at the prestigious Sands Expo and Convention Center on May 27, 2023. Organized by Wiki Expo in conjunction with Wiki Bit, WikiFX, and Jinse Finance, this highly anticipated event will feature notable guests, including renowned actress Annie Yi, UBS ESG expert Menexenia Tsaroucha, Coinbases country director for Singapore Hassan Ahmed, and numerous other industry insiders. The expo will focus on the latest developments in finance, NFTs, cryptocurrencies, the metaverse, blockchain technology, Web 3.0, and other emerging segments.　　As a globally oriented exhibition centering around fintech and digital financing, Wiki Finance Expo plays a pivotal role in providing investors with exceptional opportunities within a secure environment. By carefully selecting highly regarded veteran exhibitors, leveraging resources from financial media platforms, and inviting industry experts

2023-05-15Deep Dive

Binance halting operations in Canada

In a tweet on May 12, Binance announced that it would be discontinuing its operations in Canada. The cryptocurrency exchange noted that it was not alone in proactively withdrawing from the Canadian marketplace, as other crypto companies had already done so.　　Although Canada was a small market for Binance, it held sentimental value and the company was optimistic about the countrys crypto sector. However, recent regulatory guidance in Canada had made it unfeasible for Binance to continue operating in the country, and the company said it had delayed its departure for as long as possible.　　Binance emphasized that it did not agree with the new regulatory guidance but intended to continue engaging with Canadian regulators. The company expressed a desire to return to the Canadian market when Canadian users once again have access to a broader suite of digital assets.　　Canadaian crypto exdus　　Earlier this year, Canadian securities regulators introduced new guidelines for crypto companies operating in the country. The new guidance mandates that crypto companies must submit pre-registration filings and comply with specific regulations. Under the guidelines, crypto companies must segregate funds of Canadian users and disallow margin or leverage trading for those users.　　Following the introduction of the new guidelines, several crypto companies

2023-05-15Deep Dive

Twitter Will Have New CEO As Elon Musk Resigns From His Position

Key Points:　　Elon Musk announced on Thursday that he has selected a new CEO for Twitter.　　Twitter has recently selected a CEO, who will take over in six weeks, according to the technology billionaire.　　Since taking charge, Musk has made modifications to content filtering and the blue-check verification mechanism.　　Elon Musk has announced his intention to stand down as CEO of Twitter.　　Musk, who purchased Twitter last autumn and has been operating it since then, has often said that he is not the company‘s permanent CEO. In a tweet on Thursday, the Tesla billionaire announced that he would become Twitter’s executive chairman and chief technical officer.　　He said that he had selected a new CEO for X Corp., Twitters parent firm, who would likely take over in late June or early July. The unknown lady will succeed Musk, who purchased the social media network for $44 billion in October 2022.　　He will be in charge of product, software, and system operations, according to the soon-to-be-former CEO. When Musk took over, he ousted prior CEO Parag Agrawal. Agrawal replaced Jack Dorsey, the platforms co-founder, who started it in 2006.　　Musk is a fervent proponent of cryptocurrencies, and he has voiced special fondness for the DOGE token meme. DOGE prices

2023-05-12Deep Dive

Crypto Influencer Dumps Token, Shocking Followers with 2% Supply Sell-Off

Key Points:　　Beware of crypto scams: an influencer named DannyCrypt is accused of pulling the rug on his followers by selling 2% of a tokens supply on them for profit.　　DannyCrypt made $57K (31 ETH), negatively impacting the market price.　　To avoid falling victim to scams, do your own research, remain skeptical of unrealistic promises, and avoid investing all of your funds into meme coins and volatile digital assets.　　Unfortunately, scams are becoming increasingly common in the cryptocurrency market, and investors need to remain vigilant.　　The most recent incident involves a well-known crypto influencer named DannyCrypt, who is accused of deceiving his followers. According to reports, DannyCrypt received 2% of a tokens supply for marketing purposes but then proceeded to dump the majority of these tokens on his unsuspecting followers. The scam resulted in a profit of $57K (31 ETH) for DannyCrypt.　　The incident is a stark reminder of the need for caution when investing in cryptocurrency projects, especially those that are endorsed by influencers. Investors should conduct thorough research before committing funds to any project and avoid blindly following the advice of social media influencers. Skepticism is key when evaluating unrealistic promises or guarantees. Additionally, it is recommended that investors avoid investing all of their

2023-05-12Deep Dive

Coinbase Legal Director Apologizes For Controversial PEPE Reports

Key Points:　　Paul Grewal, chief legal officer of cryptocurrency exchange Coinbase, apologized for Pepecoins inaccurate reports.　　Earlier, the trading platform had released reports revealing the meme coin originated from an Internet meme and was seen as a symbol of right-wing hate, causing a storm of criticism on Twitter with the hashtag #deletecoinbase.　　This has caused the PEPE token to drop more than 21% in the past 24 hours and Coinbase stock to drop more than 4%.　　Paul Grewal, the chief legal officer of cryptocurrency exchange Coinbase, tweeted that they misrepresented PEPE and apologized to the community.　　According to the Coinbase newsletter, the trading volume on the meme coin surpassed $2.3 billion last week, six times higher than the previous week and the highest level since May 2021. The rise of PEPE as the leading driving force behind the coin mania is an ongoing meme. PEPE has grown by nearly 55,000% since its release in mid-April, resulting in a market capitalization of $1.8 billion in less than three weeks, making it one of the fastest-growing tokens ever.　　But the Cryptocurrency Exchange caused a stir by depicting the Pepe the Frog meme as originating from an Internet meme and seen as a symbol of right-wing hate. This led

2023-05-12Deep Dive

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