Crypto Guides, Knowledge & Insights

Bloomberg: Deribit Plans to Offer SOL, XRP, and MATIC Options Trading in January Next Year

According to Bloomberg, the cryptocurrency options trading platform Deribit plans to expand its cryptocurrency options offerings. Deribit COO Luuk Strijers stated that starting from January next year, they will support options trading for Solana (SOL), Ripple (XRP), and Polygon (MATIC).　　Luuk Strijers also mentioned that in the future, they intend to apply for a cryptocurrency broker license in the European Union (EU) and are considering relocating the company from Panama to Dubai, pending regulatory approval.　　

2023-10-10Deep Dive

OKX Web3 Wallet Now Supports Flashbot, Safeguarding Users from MEV Attacks

According to official sources, due to the frequent occurrence of MEV (Miner Extractable Value) attack incidents on the blockchain, the OKX Web3 Wallet has now integrated support for Flashbots to protect users from MEV attacks. Users can enable MEV protection by clicking “More” in the OKX Web3 Wallets ETH chain SWAP transactions. This measure effectively safeguards users against MEV attacks.　　The OKX Web3 Wallet routes transactions to trusted third-party nodes, such as the Flashbots private pool, instead of the regular transaction pool. This ensures that the transaction sequence remains unchanged.　　MEV Sandwich attacks, in essence, involve attackers sandwiching their transactions between those of victims to profit from the price difference. Specifically, attackers continuously scan the blockchains mempool until they identify high-value transactions. Subsequently, attackers front-run the users Swap transactions by paying higher Gas fees, ensuring that their purchase transactions are confirmed on the blockchain before the users transactions. This causes the price of the token the victim is about to buy to increase, resulting in the victim paying more. After the victims purchase transaction, the attacker then sells their tokens, thus profiting from the price difference.　　

2023-10-10Deep Dive

Polkadot Community Urges Rate Adjustment for 100 Million DOT Unlocking Event!

Polkadot community approximately 100 million DOTs that were initially locked in the first batch of Crowdloans are set to be unlocked on October 23.　　This unlocking event has prompted the Polkadot community to take proactive measures in preparation for Polkadot 2.0, aiming to ensure the networks stability and efficiency.　　To address the forthcoming DOT unlocking and to better align with the evolving needs of Polkadot, the community has initiated Governance Referendum No. 166. The primary objective of this referendum is to propose a modest increase in the ideal pledge rate of the Polkadot community. Specifically, the proposal suggests raising the ideal pledge rate from the current 52.5% to 60%.An Over 99% Approval Rate Ensures a Bright Future　　The rationale behind this adjustment is to facilitate the seamless integration of newly unlocked DOTs into the networks staking system without compromising existing staking rewards. By increasing the ideal pledge rate, the Polkadot community can efficiently accommodate the influx of DOTs following the unlocking event.　　This proposal has gained significant traction within the Polkadot community and has been fast-tracked by Fellowship. Currently, the proposal has entered the public voting stage, boasting an impressive approval rate of 99.4%. The overwhelming support for the adjustment underscores the community‘s commitment

2023-10-10Deep Dive

Hong Kong Police Uncover 11 Binance Scam Cases Worth Millions!

Hong Kong police have issued a warning about a rising threat in Binance scam.　　Binance scam fraudsters have been actively targeting individuals by sending phishing text messages, masquerading as Binance, the world‘s largest cryptocurrency exchange. These malicious actors are using deceptive tactics to compromise users’ Binance accounts and siphon off their digital assets, leaving victims in financial turmoil.11 Victims Fall Prey to HK$3.5 Million Binance Scam　　Over the past two weeks, Hong Kong police have received reports of 11 cases where unsuspecting individuals fell victim to these Binance scam schemes. These incidents have resulted in the unauthorized transfer of virtual assets from their Binance accounts, amounting to a staggering 3.5 million yuan in losses.　　To help citizens safeguard their investments and digital assets, the police have outlined five crucial precautions to take when engaging in virtual investment activities:　　Prioritize Security: Investors must remain vigilant and assess the security risks associated with the platforms and networks they use for virtual asset transactions.　　Choose Licensed Platforms: Opt for virtual asset trading platforms that are licensed in Hong Kong. A list of such legitimate platforms is available for reference.　　Secure Offline Wallets: For those with substantial holdings of virtual assets, its advisable to store them in offline wallets. This

2023-10-10Deep Dive

Binance Copy Trading Now Launched For Future Markets

In a recent announcement, Binance Futures unveiled an innovative copy trading feature designed to simplify the trading process for users in specific markets.Binance Copy Trading Feature Launched　　Binance Copy Trading enables traders to replicate the strategies and portfolios of seasoned traders known as “Lead Traders.”　　The concept behind the addition is straightforward: Copy Traders can gain insights into various trading strategies and leverage the expertise of Lead Traders. In return, Lead Traders stand to benefit from a 10% profit share derived from their Copy Traders, as well as 10% commissions from the trading fees generated by their followers, while also enjoying exclusive perks.　　What sets this feature apart is that Copy Traders can simultaneously follow up to 10 Lead Traders. They have access to crucial portfolio information, including a 7–30–90-day return on investment, profit and loss records, maximum drawdown, and assets under management. This empowers users to make informed decisions as they search for and select the Lead Traders they wish to emulate.Binance Simplifies Trading with Copy Trading Option　　Binance‘s motivation behind this move is to reduce entry barriers for less experienced traders, enabling them to tap into the knowledge and strategies of their more seasoned counterparts. Rachel Conlan, Chief Marketing Officer at Binance,

2023-10-10Deep Dive

Why Bitcoin Halving Plays A Key Role In Price Discovery And Market Sentiment

Bitcoin, the pioneer of cryptocurrencies, has gained immense popularity and attention over the years. Among the various factors that influence its price, Bitcoin halving events stand out as crucial moments in the cryptocurrency market. In this article, well delve into why Bitcoin halving remains an important factor for BTC prices.Bitcoin Halving: A Brief Overview　　Bitcoin halving, often referred to as “the halvening,” is a scheduled event that occurs approximately every four years, or after every 210,000 blocks are mined. During a halving, the rewards that Bitcoin miners receive for validating transactions and adding new blocks to the blockchain are slashed in half. This means that the rate at which new bitcoins are created is reduced by 50%. Lets explore why this event holds such significance:Supply And Demand Dynamics　　One of the fundamental economic principles at play during a Bitcoin halving is the law of supply and demand. Bitcoin has a finite supply cap of 21 million coins. When the rate of new coin creation is cut in half, it creates scarcity in the market.　　Assuming that demand for Bitcoin remains stable or increases, this scarcity effect can drive up the price. Investors and enthusiasts often anticipate this reduction in supply, leading to increased

2023-10-09Deep Dive

Gary Wang Exposes FTX Collapse and Sam Bankman-Fried’s Actions

Gary Wang, a key figure in the unraveling of FTX collapse, testified against his former MIT college roommate, Sam Bankman-Fried.　　The trial revolves around allegations of criminal fraud and conspiracy in the wake of FTXs tumultuous FTX collapse in November 2022, leaving billions of dollars of customer funds missing.The Intriguing Tale of Wang and Bankman-Fried　　Wang, a 30-year-old coding prodigy and onetime billionaire, provided a gripping account of his final days at FTX during the trial. He recounted the pivotal moment when FTX filed for bankruptcy and the scramble to determine the fate of the exchange‘s remaining assets. The bankruptcy estate in the United States and the Bahamian authorities were both vying for control over what remained of FTX’s assets.　　One intriguing revelation from Wangs testimony was the divergence in approach between the US and Bahamian regulators. Wang stated that US authorities urged him to swiftly transfer the remaining assets to the US, while Bankman-Fried advocated for delaying the process. The Bahamian regulators, according to Bankman-Fried, seemed more accommodating and inclined to let him retain control of the company.　　This trial has shed light on the intricate web of financial dealings surrounding FTX collapse, with allegations that Bankman-Fried routed customer funds through the affiliated

2023-10-09Deep Dive

Stars Arena Secures Funds in Gnosis Safe Wallet, Access Returns

Stars Arena, the social protocol built on the AVAX network, has taken concrete steps to enhance the security and integrity of its platform Gnosis Safe wallet.　　The project announced on the X platform that funds have been successfully moved from the original fee wallet to a new Gnosis Safe wallet, featuring a robust 3/6 signature requirement. Importantly, this multisig Gnosis Safe wallet is now under the control of all Stars Arena team members, strengthening the projects commitment to transparency and security.Stars Arenas Security Enhancement　　The Gnosis Safe wallet address for the new multisig wallet is: 0xAc0388Fe24D65358f2fF063ebCbEfa321A2a091d　　This move comes as part of Stars Arena‘s comprehensive security infrastructure overhaul in response to a recent exploit. While the project has diligently worked to address the vulnerabilities and bolster its defenses, it’s important to note that partial access to the Stars Arena platform has been restored.　　However, users are advised not to deposit new funds at this time. Stars Arena is taking a cautious approach to ensure the safety of its community members and their assets. The decision to restrict new deposits underscores the projects unwavering commitment to safeguarding user funds and maintaining the highest security standards.　　The Stars Arena team remains dedicated to providing a secure and

2023-10-09Deep Dive

CZ Shares Bitcoin Halving Countdown Experience

On October 9th, CZ posted on the Binance Square, announcing that Binance had added a Bitcoin halving countdown display to its homepage.　　Additionally, CZ shared his experience from the past three Bitcoin halvings. He stated, “In the months leading up to the Bitcoin halving (from now), there will be increasing rumors, news, anxiety, expectations, hype, and hope. And in the year following the halving, the Bitcoin price has touched all-time highs multiple times.”　　CZ also added that, “This does not mean there is a definite causal relationship, and history cannot predict the future.”　　

2023-10-09Deep Dive

This Week's Token Unlock

Token Unlock data shows that this week, several tokens including GLMR, 1INCH, APT, EUL, SWEAT, and CYBER will experience one-time substantial unlocks. Here are the details:　　On October 11th at 8:00 AM, Moonbeam will unlock approximately 9.68 million GLMR tokens (about $2.05 million), accounting for 1.29% of the circulating supply.　　On October 11th at 8:00 PM, 1inch will unlock approximately 210,000 1INCH tokens (about $55,000), representing 0.02% of the circulating supply.　　On October 12th at 8:00 AM, Aptos will unlock approximately 45.4 million APT tokens (about $23.63 million), making up 1.9% of the circulating supply.　　On October 12th at 9:10 AM, Euler tokens will unlock approximately 150,000 EUL tokens (about $390,000), accounting for 0.8% of the circulating supply.　　On October 13th at 8:00 AM, Sweat Economy will unlock approximately 227 million SWEAT tokens (about $2.29 million), representing 2.95% of the circulating supply.　　On October 15th at 8:00 AM, CyberConnect will unlock approximately 1.26 million CYBER tokens (about $6.24 million), making up 11.43% of the circulating supply.　　

2023-10-09Deep Dive

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