Crypto Guides, Knowledge & Insights

Based on S2F Model Prediction, Bitcoin's Next Halving Cycle Could Reach $500,000

On July 19th, cryptocurrency analyst PlanB released an update to the Bitcoin Stock-to-Flow (S2F) valuation model on social media. The update stated, “Based on the latest data and the average S2F ratio and BTC price during the current halving cycle: The model predicts a Bitcoin price of $54,000, while the actual average price is $31,000.During the 2016-2020 halving cycle, the model predicted a Bitcoin price of $4,400, while the actual average price was $5,800. For me, the models margin of error is within an acceptable range, and S2F is not ineffective. However, I believe it is a personal decision. I am focusing on the Bitcoin price reaching $500,000 in the next halving cycle (with a potentially large margin of error).”　　PlanB is a popular blogger known for using models to predict the long-term price of Bitcoin. They have gained fame for making several accurate predictions and have amassed a following of 1.8 million followers on Twitter.　　In 2021, PlanB used the Stock-to-Flow (S2F) model to predict that the price of Bitcoin would reach $100,000 by the end of the year. However, the actual price of Bitcoin deviated significantly from this prediction. It is worth noting that while the S2F model has gained

2023-07-19Deep Dive

Big Whale Suddenly Transfers All 61,216 ETH To Kraken After 8 Years Of Hibernation

All 61,216 ETH worth $116.3 million was moved by a whale wallet.　　After eight years of immobility, the wallet suddenly transferred all ETH to the Kraken exchange, causing the community to panic about a possible big sell-off.　　According to speculation from the community, this is likely a wallet related to a member of the Ethereum Foundation or an early investor in the project.　　On the morning of July 19, many crypto investors on Twitter were bewildered because the movement of an Ethereum whale wallet containing 61,216 ETH (worth $116.3 million) had resumed after eight years of sleep.　　Source: Etherscan.io　　Concerns about the ETH mentioned above wallet increased when it immediately transferred all assets to the Kraken exchange, as noted by Etherescan.　　Currently, the true purpose of this ETH whale has yet to be discovered. Many people quickly came to the conclusion that $120 million of ETH is about to hit the market.　　In particular, this is a pre-mine wallet, meaning that this wallet received ETH before the ICO event of Ethereum in 2015. Therefore, there has been a lot of speculation about the owner of this wallet. It could belong to one of the founders of Ethereum, a private investor or a particular core member of the

2023-07-19Deep Dive

Telegram Founder Reveals New Investments In Toncoin, TON Increases Over 5%

Telegram sees over 2.5 million new daily users and surpasses 800 million monthly active users.　　Telegram issues $270 million worth of bonds for continued growth, with CEO Pavel Durov personally investing.　　Durov confirms ownership of Toncoin and previous investment in Bitcoin, showing dedication to the crypto space.　　Telegram founder Pavel Durov took to his personal Telegram channel on July 18 to reveal some significant milestones and financial updates regarding the popular messaging app.　　Durov announced that more than 2.5 million new users are registering for Telegram each day, contributing to the platforms impressive growth. Earlier this year, the app surpassed 800 million monthly active users, a testament to its increasing popularity.　　While Durov expressed gratitude for this massive growth, he acknowledged the associated higher expenses on storage and traffic required to serve such a vast user base. However, he reassured users that Telegram is highly efficient in managing expenses and had a successful start with monetization efforts in the previous year. Although Telegram is not yet profitable, Durov emphasized that it is closer to profitability in absolute numbers compared to its competitors like Twitter and Snap.　　To fund the apps continued growth until it reaches the break-even point, the company issued approximately $270 million worth of

2023-07-19Deep Dive

Former FTX Executive Emerges At Sino Global Capital Amidst Crypto Crisis

Former FTX executive, Zhe “Constance” Wang, joins crypto venture capital firm Sino Global Capital.　　Wang held executive roles at FTX, including Chief Operating Officer and Co-CEO of FTX Digital Markets.　　Sino Global Capital had been an early investor in FTX, and Wang‘s hiring comes after FTX’s collapse and bankruptcy.　　Zhe “Constance” Wang, a former executive at FTX, has joined the crypto venture capital firm Sino Global Capital, according to sources familiar with the matter.　　According to Bloomberg, Wang held key roles at FTX, serving as the Chief Operating Officer and Co-CEO of FTX Digital Markets, the exchange‘s affiliate in the Bahamas. Her responsibilities included overseeing global business expansion, token listings, and public relations and marketing efforts. Wang’s move to Sino Global Capital comes after FTX filed for bankruptcy in November, leading to a subsequent investigation into its operations.　　Sino Global Capital, founded in 2015 by Matthew Graham, has revealed that it was an early investor in FTX. The firm had also launched a $200 million fund with FTX as a significant investor. The collaboration between Sino Global Capital and FTX aimed to support the vision of FTX and assist in its growth as a prominent player in the crypto industry. The bankruptcy filing by FTX,

2023-07-19Deep Dive

Solana EVM-Compatible Solution Neon EVM Goes Live on the Solana Mainnet

Neon EVM, the Solana EVM-compatible solution, has announced its launch today, providing a computing environment that allows developers to build Ethereum applications on the Solana blockchain. Neon is implemented as a smart contract on top of Solana, enabling the deployment of Ethereum Virtual Machine (EVM) code.　　The development team has announced the completion of the necessary tools to migrate Ethereum developer projects to Solana. They believe that this move has the potential to reduce operational costs for applications. They express confidence in the integration of their EVM solution with Solanas high throughput capabilities and are currently undergoing extensive testing.　　In addition to providing access to the Solana network, Neon EVM aims to enable Ethereum applications to leverage the native features of Solana, including parallel transaction execution.　　As widely known, the Ethereum ecosystem has been leading in terms of developer count and activity. According to https://www.developerreport.com/, the number of full-time developers in the Ethereum ecosystem this year is approximately five times that of Solana.　　Neo EVM and Solana are complementary products, meaning that they have a positive effect on each other. The launch of Neon EVM can help developers more easily enter the Solana ecosystem. Solana may see the emergence of more innovative products and

2023-07-18Deep Dive

Uniswap Launches Cross-AMM Protocol UniswapX

Due to inherent characteristics such as congestion in the on-chain environment, manipulable miner sequencing , and susceptibility of AMM price mechanisms to market fluctuations , the current DeFi experience struggles to match that of centralized exchanges.　　In order to advance on-chain trading and improve the experience of self-custodial swaps, Uniswap has announced the launch of UniswapX, a permissionless, open-source protocol based on Dutch auctions. UniswapX enables trading across AMMs and other liquidity sources.　　Currently, a test version of the protocol is being launched on the Uniswap Labs interface, specifically for the Ethereum mainnet, with plans to expand to other chains and Uniswap wallets in the future.　　UniswapX aims to gradually achieve the following:　　Aggregating liquidity sources to improve exchange rates　　Mitigating MEV (Miner Extractable Value) vulnerabilities　　Providing gasless transactions for swaps　　Zero cost for failed transactions　　Expanding to support cross-chain, gasless transactions within a few months.　　UniswapX has introduced a network of off-chain node providers called the Relay Network. These nodes are responsible for collecting user orders and establishing a local order book, which is shared among other nodes. This system enables the prevention of MEV and facilitates gasless transactions. The orders are eventually packaged and executed on-chain, completing the state transitions of the orders.

2023-07-18Deep Dive

CoinShares: Net Inflows of $137 Million in Digital Asset Investment Products Last Week

CoinShares latest weekly report shows that there was a net inflow of $137.4 million into digital asset investment products last week. Over the past four weeks, the cumulative inflows amounted to $742 million, marking the largest inflow since the fourth quarter of 2021.　　The majority of the inflows came from BTC, totaling $1.4 billion. Although the price of ETH has been rising recently, it did not attract inflows as it saw an outflow of $2 million last week.　　The trading volume of investment products remains significantly higher than the annual average of $1.4 billion, reaching a total of $2.3 billion last week. Currently, these trading volumes account for a much larger proportion of the overall cryptocurrency market, representing 11% last week compared to the average level of 2%.　　In terms of regions, the inflows are predominantly concentrated in North America, with a slight outflow observed in Europe.

2023-07-18Deep Dive

Gary Gensler Feeling Disappointed About The Court’s Judgment In Ripple Lawsuit

SEC Chair Gary Gensler comments on the recent court ruling in the SECs lawsuit against Ripple, expressing both satisfaction and disappointment with the outcome.　　The court ruling determined that institutional sales of Ripples tokens violated federal securities laws, while sales on exchanges and programmatic sales were not considered securities.　　The rulings implications for retail investors and the potential for an appeal raise uncertainty about the future regulatory landscape for cryptocurrencies.　　US Securities and Exchange Commission (SEC) Chair Gary Gensler has publicly addressed the recent court ruling in the SEC‘s lawsuit against Ripple, stated that while he was disappointed with a district court’s decision in the Ripple case regarding retail investors, he was pleased with the portion of the order that found institutional sales of the tokens did violate federal securities laws.　　Last week, Ripple achieved a partial victory as the court ruled that institutional sales of the XRP tokens violated federal securities laws, while sales on exchanges and programmatic sales did not qualify as the sale of securities. The ruling was based on the SECs inability to establish that speculative investors had a reasonable expectation of profits from the efforts of others.　　During a talk on artificial intelligence at the National Press Club, Gensler was

2023-07-18Deep Dive

Binance Terminates Sponsorship Deal With Argentina Amid Falling Profit

Binance, the worlds largest cryptocurrency exchange, has unexpectedly terminated its sponsorship agreement with the Argentina national football team.　　The deal, signed in early 2022, was controversial as the exchange competed with the Chiliz/Socios fan token project for sponsorship rights.　　Binances decision comes amidst growing regulatory challenges, declining profits, and recent layoffs at the exchange.　　Binance, the worlds largest cryptocurrency exchange, has terminated its sponsorship agreement with the reigning World Cup champion, Argentina. The unexpected move was announced on Twitter, stating that the exchange had ended its sponsorship of the Argentina football team.　　The sponsorship agreement between the exchange and Argentina was signed in early 2022 for a period of five years. The exact value of the agreement was not disclosed. As part of the deal, Binances logo was set to appear on the teams training jerseys and stadiums during friendlies featuring Argentina.　　“Binance has decided to end its association with the AFA (Argentine Football Association). We regularly evaluate the results of our partnerships around the world and unfortunately, despite being offered time and opportunity, AFA has not fully met its contractual obligations, which goes against our business values and our association principles. Binance remains committed to growing in Argentina and continues to engage with local

2023-07-18Deep Dive

Sui Network Sees Sudden Growth, SUI Soars 15% During The Day. Why?

Sui Networks daily transactions skyrocketed by over 50 times in two weeks.　　The surge is driven by the popularity of the blockchain game Sui 8192, where each move is recorded as a transaction.　　Sui Network surpasses Solana in daily transactions and holds a market capitalization of around $500 million.　　The Sui Network, a blockchain platform, has witnessed an unprecedented surge in daily transactions, marking a significant milestone for the network.　　Just four days ago, the daily transactions on the Sui Network surpassed 22.2 million, representing an astounding increase of over 50 times compared to the previous two weeks. This surge in activity has been primarily attributed to the popularity of a blockchain-based game called Sui 8192.　　Suis daily transaction blocks. Source: Artemis　　Sui 8192, developed by the team behind the Sui-native Ethos Wallet, has emerged as a major driving force behind the surge in network activity.　　The game draws inspiration from the well-known 2048 puzzle game but adds a unique twist by leveraging blockchain technology. Players are tasked with strategically shifting and combining tiles using arrow keys, with the ultimate goal of reaching the coveted 8192 tile.　　What sets Sui 8192 apart is that each move made during gameplay is recorded as a transaction on the Sui blockchain,

2023-07-18Deep Dive

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