Argentina's tax department has confiscated over 1,000 bitcoin wallets related to the country's delinquent taxpayers. Without KYC, 52 per cent of Argentinians are unbanked. Crypto exchanges verified the identification of clients without KYC and retained user account records and detailed financial information.

The decision comes as [Argentinians continue to embrace stablecoins](https://cointelegraph.com/news/usd-stablecoin-premiums-surge-in-argentina-following-economy-minister-s-resignation) to battle rising inflation, a depreciating peso, and general economic gloom. 

According to three leading crypto exchanges, people are trying to hedge against a future Argentine peso (ARS) depreciation, whose purchasing value has tumbled in the last year as inflation has skyrocketed. 

Argentine crypto exchange Buenbit's trading volume increased by 300 per cent on Sunday compared to the same day in prior weeks, with "many people" using their DAI as collateral to secure loans in Argentine pesos and purchase additional DAI.  

Following Guzman's departure, the peso fell almost 15% against the stablecoins DAI and tether on the platforms of many large crypto exchanges. Both stablecoins increased from ARS 245 to ARS 280 during the weekend.

Due to the 24/7 nature of crypto, the CEO of the Argentina-based crypto exchange Ripio noted that anytime there is one of these news stories in Argentina, it is the first market where Argentina begins to hunt for a price for the US dollar. Since many Argentinians are unbanked and without KYC, consequently raising the volume. 

Also, due to a significant lack of price references for the US dollar over the weekend, most Argentine crypto exchanges widened the disparity between the bid and ask rates to 18%, which is typically about 2%. 

According to the founder of the crypto education portal DefyEducation, crypto exchanges have established a large spread so that consumers do not trade and may hedge against tomorrow's opening price.

Prices rose, and spread's widened due to demand and the lack of a reference replacement price, according to the head of trading and strategy at Argentina-based crypto exchange Lemon Cash.

For the latest crypto coin news, visit [Moni Talks](https://monitalks.io/news/category/crypto-coin-news).




Argentina’s stablecoin demand soars as minister resigns

Best known as one of the top featured investors on Shark Tank, [Mark Cuban](https://cointelegraph.com/news/bear-market-will-last-until-crypto-apps-are-actually-useful-mark-cuban) believes that a greater emphasis on blockchain applications and utility outside of finance will bring more investors back to the crypto wealth apps space and perhaps reverse the market's decline. 

With so many crypto wealth apps focused on financial technology or collectables, launching a business-focused application would be one of such events that could inject positive sentiment back to the market.

## Mark Cuban crypto view- True value in crypto will only be realised when blockchain UX and utility is achieved 

Mark Cuban  anticipates a flood of consumers if something like a "decentralised version of Quickbooks," a small company accounting management software, debuts within the crypto wealth apps market. 

Mark Cuban crypto went on to say that [Bitcoin](https://monitalks.io/news/article/how-many-bitcoins-are-left-to-mine) is still not cheap, particularly when compared to the huge market capitalisation of other DeFi ventures. 

"When you look at market caps and see a billion-dollar-plus market value of $6 billion, $8 billion, or $40 billion, you don't think, 'that's inexpensive,’ Mark Cuban crypto added. In DeFi Summer, these products were trading for less than a cent, with market values in the hundreds of millions.”

> "There's no utility"

He adds that "there's no utility" even with smaller market cap cryptos, citing the decentralised exchange (DEX) SushiSwap (SUSHI) token as a relatively inexpensive investment with a $215 million market cap. But notes: Even if compensated as a liquidity provider, who will buy it from you and why?

He believes that mergers between multiple protocols and blockchains will eventually consolidate the crypto business and crypto wealth apps, as in any sector.
Mark Cuban crypto said he would instead work with someone who says, “Let's do a roll-up”. Stating that, he'd support a merger of various blockchains and move crypto wealth apps and communities to just one whilst offering a token exchange or bridge from the closing blockchains to port users over. 

When asked which of the crypto space's sub-sectors he was most enthusiastic about, Mark Cuban stated his interest in carbon offset DeFi tokens, which he burns to offset his carbon footprint.
He also added that: 

> "All of them have promise, that's why they received all this money, and all of them have a reason why they think they're superior and will do well".

For more crypto-related news, visit [Moni Talks](https://monitalks.io/news).




Mark Cuban believes crypto apps need better utility

The volume of internet searches for 'bitcoin scam instagram' has rocketed following incidents of accounts on the Meta platform being hacked.
[The Identity Theft Resource Centre (ITRC)](https://www.idtheftcenter.org/) reported a significant increase in victims of Instagram account takeovers linked to Bitcoin scams since October 2021.

According to ITRC findings, fraudsters construct Instagram posts regarding Bitcoin investments to entice other users. When a user clicks on the link, their money is gone, and their Instagram credentials are compromised.
The victim's Instagram account is then locked, and the account is utilised to post further links to phoney [Bitcoin](/coins/btc) investments.
This is what has sparked the rise in searches for 'bitcoin scam instagram' on Google.

You should never disclose your Instagram account passwords to anybody else. Use a strong password and two-factor authentication to secure your account. If an Instagram post appears too good to be true, it most often is.

Bitcoin Instagram scams and hacked Bitcoin Instagram accounts have been around for a long time. However, the ITRC is witnessing a considerable increase in victim queries concerning hijacked Instagram accounts. The Centre says it is now receiving four times as many reports each month than it has previously.

This heightened awareness is mirrored in the increased online interest in 'bitcoin scam instagram' searches.
According to the ITRC, fraudsters impersonate people their victims know to get personal information. Some victims are discovering that their Instagram accounts have been locked and that fraudsters are posting things in the hopes of defrauding others.

Some victims have complained that even if they did not submit their information to a scammer, they still had a hacked account or account takeover. While it appears that users are being targeted in numerous ways to get login information, their account information may also have been accessed using information from breaches, including Facebook login information, especially if the username and password were never updated.

The ITRC has also seen victims have their accounts faked using their public photos. Cybercriminals then track the victims and send them communications containing a scam or harmful link.

There are steps you can take to protect yourself:

•	Never give out your password or any other sensitive information to anybody
•	Make sure your password is difficult to guess
•	 On your account, enable two-factor authentication (2FA). Go to "Settings," "Security," and then "Two-Factor Authentication" to enable 2FA on Instagram. Tap "Get Started," then either "Authentication App" or "Text Message." Because SMS messages can be faked, the ITRC suggests using an authentication app
•	Check that the email address linked with the account is safe. It is also a good idea to use 2FA to safeguard your email
•	Third-party apps should not be downloaded through a social networking platform. Download software only from Apple, Google, and Microsoft's official app stores

You can contact the ITRC to learn more about stolen Instagram accounts and what you can do to secure the information that a fraudster may have access to.

Bitcoin Scam Instagram: Why this Phrase Matters

## In January, news of a Fall Out Boy NFT dropped. What happened next?

Fall Out Boy is a world-famous band out of Chicago that has featured in its line-up Pete Wentz, Patrick Stump, Joe Trohman, and Andy Hurley.
On January 7, the official Twitter feed shared a Fall Out Boy NFT. The tweeted image depicted the band members with invisible faces. The Fall Out Boy image was developed by [Invisible Friends](https://invisiblefriends.io/), a well-known [NFT](/news/category/nft-news) creator with a significant following.

The official page of Invisible Friends was also tagged in the Fall Out Boy post. The title of the NFT artwork was given as "We're Feeling Invisible".

Given the band's international fanbase, it was no surprise that the tweet quickly went viral.
However, responses were mixed. Many focused on plans for a new album, not the Fall Out Boy NFT. Others were unhappy with the group's first foray into the NFT market.

Twitter users Alex said, "Sugar, We're Letting Fans Down," to which 2.8K people agreed. Another user, Fin, expressed worry about the carbon emissions associated with NFT minting and advised that Fall Out Boy make a new album instead of entering the NFT arena.
The NFT space is in its infancy and is a highly speculative asset. It can be impacted by those with a large number of followers, such as Fall Out Boy.

Invisible Friends already had a substantial following - 200k on Twitter and 600k on Discord - and you might have thought it couldn't get much bigger. However, the Fall Out Boy NFT tweet sent Invisible Friends fans into a frenzy.

Invisible Friends excel at two things: art and community. These two factors significantly impact the volume traded in a collection. Despite the stunning visuals and engaged fans, the initiative lacks a plan. Nonetheless, it is one of the most anticipated drops.

Markus Magnusson, an animator and illustrator, produced the 5,000 animated NFTs in the Invisible Friends NFT collection. The artworks are basic and eye-catching based on some of the sneak peeks the team offered on Twitter.
 
Moreover, the fact that a respected animator like Magnusson is working on the characters adds to the excitement. He has 188,000 Instagram followers and has already sold numerous NFTs. One famous example is the Invisible ghost buddy guy, which sold for 4.8723 ETH (about $18,600) last October.


Fall Out Boy NFT. What Happened?

According to reports, Goldman Sachs, one of the world's largest financial organisations, has begun exploring the idea of purchasing assets from the crypto lending company Celsius Network, a company with deleveraging complications contributing to the crypto bubble chart as seen in the market of late. They are reportedly working on a $2 billion acquisition deal. 


## Goldman Sachs's involvement in the Celsius acquisition


Goldman Sachs has begun an industry-wide interest aggregation by identifying interested investors and obtaining significant commitments from them. 

According to a Goldman Sachs survey, insurers are exploring the idea of cryptocurrencies. According to the study, 6% of the three hundred and twenty-eight chief investment officers and chief financial officers had invested in or considered investing in cryptocurrency.

According to sources, [Goldman Sachs](https://watcher.guru/news/goldman-sachs-is-raising-2-billion-to-buy-celsius-network-assets) had targeted investors in Web3 crypto funds that specialise in distressed assets and traditional financial institutions. Majority of Celsius assets would most likely be cryptocurrency managed by participating investors. 

However, the CEO of a cryptocurrency trading platform remarked that unless Goldman Sachs explicitly states that they are purchasing Celsius, we should take the claims with a pinch of salt. It could simply be a PR stunt. 

Before its problems, Celsius was one of the top crypto lenders, with roughly $12 billion in assets under administration and 1.7 million members.


## Celsius CEO on the run after contributing to the crypto bubble chart 


A well-known cryptocurrency investor and analyst recently tweeted that Celsius Network CEO Alex Mashinsky was on the run and attempted to flee the USA this week via Morristown Airport before being detained by police. Currently, it is unknown whether he was banned or arrested. 

Celsius CEO Mashinsky was going to leave for Israel; while claiming that the monies were secure, [Celsius Network halted consumer withdrawals](/news/article/celsius-crypto-freezes-withdrawals). It was a significant contributor to the negative sentiment and herding behavior of mass selling resulting in the  second of the two crypto bubbles we have seen. Mashinsky has remained silent since then, and there is no indication of when the customer monies will be returned.


As of 8:56 a.m. (BST), the Celsius crypto bubble chart price is $0.79, a change of -20.60 per cent in the previous 24 hours. The current price movement in Celsius has resulted in a market capitalisation of USD 547,793,645.88. Celsius has changed by -82.59 per cent so far this year. Bitcoin plummeted 14% on Monday after a prominent cryptocurrency lending firm in the United States, Celsius Network, halted withdrawals. 

The Celsius crypto bubble chart price move spurred a sell-off in cryptocurrencies, with their value falling below $1 trillion for the first time since January 2020, raising concerns that the collapse may spread to other assets or firms.

For more crypto business news, visit us at [Moni Talks](/news/category/crypto-business-news).


How Celsius blew up the crypto bubble chart

According to the most recent statistics, the current [Liquidus](https://coinmarketcap.com/currencies/liquidus/) crypto price is $0.25. Liquidus has a circulating supply of 0 and a market capitalisation of $0.

Liquidus' price increased by 1.4% in the previous 24 hours, thanks to increased trading volume and market value.

Liquidus (LIQ) is having difficulty competing with other cryptocurrencies. In the previous seven days, LIQ dropped by around -12.69%.
The currency has been demonstrating risky framing segments over the previous several days; the coin may have excellent fundamentals, but we do not believe it will be a successful asset in the short run.

According to our in-depth technical analysis of previous Liquidus crypto price data, the liquidus crypto price is expected to reach a low of $0.31 in 2022. LIQ may reach a high of $0.35, with an average trade price of $0.32.

In 2023, the price of Liquidus is expected to fall to a low of $0.46. Throughout 2023, Liquidus might reach a high of $0.53 and a low of $0.47.
As per the forecast price and technical analysis, in 2024 the price of Liquidus is predicted to reach a minimum level of $0.67. The Liquidus crypto price can reach a maximum level of $0.81 with an average trading price of $0.69.

The price of 1 Liquidus is expected to reach a minimum level of $1.01 in 2025. The LIQ price can reach a maximum level of $1.14 with an average price of $1.05 throughout 2025.

Liquidus is expected to hit a low of $1.46 in 2026. According to our calculations, the LIQ price might reach a high of $1.78, with an average predicted price of $1.51.

According to our in-depth technical analysis of previous LIQ price data, the price of Liquidus is expected to be about $2.24 in 2027. Liquidus may reach a maximum of $2.56, with an average trading value of $2.30. In 2028, the price of Liquidus is expected to fall to a low of $3.26. Throughout 2028, the Liquidus price might reach a high of $3.82 with an average trading price of $3.37.

According to the prediction and technical analysis, LIQ is anticipated to reach a low of $4.77 in 2029. The Liquidus price may reach a high of $5.77 and a low of $4.90. The price of Liquidus is expected to reach a low of $6.59 in 2030. Throughout 2030, LIQ price might reach a high of $8.24, with an average trading price of $6.78.

The Liquidus crypto price is expected to hit a low of $9.49 in 2031. According to our estimates, Liquidus might reach a high of $11.39, with an average projected price of $9.76.

Liquidus is projected to climb further since scarcity encourages price increases. However, just like every investment, there is an element of risk involved.
 
 



Liquidus Crypto Price: The Next 10 Years

[Verasity’s VRA crypto price today is $0.00538](https://coinmarketcap.com/currencies/verasity/), with a 24-hour trading volume of $11.53 million.
VRA crypto has lost 2.83% in the previous 24 hours. It is currently -19.66% off its seven-day all-time high of $0.006696 and 14.76% off its seven-day all-time low of $0.004688.

VRA crypto has a circulating supply of 4.47 billion and a maximum supply of 10.36 billion.
Verasity provides compensated video player technology to big publishers and gaming developers worldwide. Within a video player wallet, the patent-pending technology enables tokenised incentives (VRA crypto) as well as loyalty systems.

The technology is already accessible for more than 500 games on the Verasity GameStore, as well as major video players that support more than two million video producers.
Its SDK products interface directly with publishers, requiring neither publishers nor users to alter their processes or habits. According to the company, this boosts engagement and income by 35%.

## What is Verasity (VRA)?

The attention-based approach of Verasity generates a VRA crypto token market between viewers, video and game creators, and advertising. It also has a built-in fiat gateway solution in the form of VeraWallet. Verasity B2B products provide SDKs for the following video players on publisher sites: YouTube, Twitch, Vimeo, JWPlayer, Brightcove, iVideoSmart, Kaltura, VideoJS, Flowplayer, and Ooyala, which account for more than 95% of all video players used. Proof of View (PoV) is in the works.

Verasity technology has obvious applications in both the advertising and video-on-demand markets. Global digital ad expenditure reached $455 billion in 2021, with a forecast increase of $70 billion to $525 billion in 2022. Advertising spending globally is expected to exceed $645 billion by 2024, representing Verasity's addressable market.

However, up to 40% of this ad expenditure is wasted due to ad fraud. Verasity seeks to address this issue. VeraViews will primarily guard against fraud in the multibillion-dollar Video Demand sector.

In 2021, a global poll of weekly video content watching patterns discovered that 63% of respondents utilised VoD services either through paid streaming or through online publishers each week, compared to only 30% on traditional cable or satellite television channels. eSports accounted for 27% of respondents' weekly video streaming.

## VRA Predictions

According to analysts, VoD services will produce $120 billion in income in 2022. For the first time, video ad placement will account for more than half of all ad expenditure in the United States, the world's largest advertising market.

Finally, it is anticipated that 2.298 billion users will have access to or a subscription to some sort of VoD service by 2026, representing a whopping 29% of the world's population. That demonstrates the magnitude and future potential of the industry Verasity is entering.

Verasity can tap into the ad business and the larger consumer market through [NFT](/news/category/nft-news)-based assets. Emergen Research has forecasted that this will reach $3.5 trillion globally by 2030 as NFTs are used by corporations and to verify digital ownership across a spectrum of assets.

Bots devour up to 40% of the $455 billion ad expenditure rather than people. That amounts to many billions of dollars in squandered advertising by businesses and marketers, who frequently just reduce the number of commercials they run or reduce advertising budgets to offset their losses.
More than two million video producers are dealing with the issue that companies are no longer willing to spend as much for ad space since there is no reason to assume that individuals see their adverts.

Verasity, on the other hand, identifies ad fraud as it occurs. VeraViews uses more than 200 touch points and AI to assess whether a bot or human is watching an ad or content based on the viewers' behaviour in real-time. Ad fraud is recognised and eradicated instantly, rather than waiting for a post-delivery fraud investigation or asking for reimbursements from publishers.

The Proof of View mechanism also prohibits unscrupulous actors from using various techniques to alter view counts and viewership metrics. Multiple metrics are acquired when viewing the material during the content view evaluation step. 

More [Altcoin news](/news/category/altcoin-news).


VRA Crypto: Understanding Verasity

Cosmos crypto is a network of numerous autonomous blockchains known as zones.
The zones are driven by [Tendermint](https://tendermint.com/) BFT, which provides a high-performance, reliable, and secure PBFT-like consensus engine with stringent fork-accountability guarantees over malicious actors' behaviour.

Tendermint BFT is an excellent choice for scaling public proof-of-stake (PoS) blockchains.
Cosmos crypto is a multi-asset PoS cryptocurrency with a simple governance system that allows the network to adapt and update.

## Functions of Hubs and Zones 

The Cosmos crypto network's Hub and zones connect through an inter-blockchain communication (IBC) protocol, which is like a virtual UDP or TCP for blockchains.

Tokens may be moved securely and swiftly from one zone to another without the requirement for liquidity exchange. All inter-zone token transactions are instead routed through the Cosmos Hub, which maintains track of the total number of tokens owned by each zone.

Each zone is separated from the non-success of other zones by the hub. Zones provide future compatibility with new blockchain breakthroughs since anybody may connect a new zone to the Cosmos Hub. 
This design addresses several current issues in the blockchain field, such as application compatibility, scalability, and seamless upgradability. Zones produced by other blockchain systems may be connected to the Cosmos Hub. Cosmos can grow indefinitely to accommodate global transaction demand because of these zones. Zones are particularly well-suited to dispersed exchanges, which will be enabled.  

Cosmos crypto is more than a single distributed ledger, and the Cosmos Hub is not a fortress or the centre of the cosmos.
The aim is to develop a protocol for an open network of distributed ledgers that will serve as a new basis for future financial systems based on cryptographic, sound economic, consensus theory, transparency, and accountability principles. 

## Public Blockchain

The Cosmos crypto Hub is the Cosmos Network's first public blockchain, powered by the Tendermint BFT consensus algorithm.
The Tendermint open-source project was founded in 2014 to solve [Bitcoin](/coins/btc)'s proof-of-work (PoW) consensus algorithm's speed, scalability, and environmental challenges.

The Tendermint team was the first to conceptually demonstrate a PoS cryptocurrency that addresses the nothing-at-stake problem suffered by first-generation PoS cryptocurrencies such as NXT and BitShares1.0 by using and improving on proven BFT algorithms developed at MIT in 1988. 

All Bitcoin mobile wallets now employ trusted servers to offer transaction verification. This is because PoW needs many confirmations before a transaction can be regarded as permanently committed. On platforms like as CoinBase, double-spend attacks have already been proven. Tendermint, unlike other blockchain consensus systems, provides immediate and provably secure mobile-client payment verification. Because the Tendermint is designed to never fork, mobile wallets may get fast transaction confirmation, making trustless and practical payments possible on cell phones. This has far-reaching implications for the Internet of Things applications.

Validators in Cosmos crypto perform a similar function to Bitcoin miners, but instead vote using cryptographic signatures. Validators are secure, specialized computers in charge of committing blocks. Non-validators can delegate their staking tokens (dubbed "atoms") to any validator to receive a percentage of block fees and atom rewards, but they risk being penalised (slashed) if the delegate validator is hacked or breaches the protocol.
Tendermint BFT consensus's established safety guarantees, as well as the collateral deposit of stakeholders–validators and delegators–provide demonstrable, measurable security for nodes and light clients. 

Validators and delegators on the Cosmos crypto Hub can vote on proposals to automatically adjust system default settings, coordinate upgrades, and vote on revisions to the human-readable constitution that governs the Hub's rules. The constitution promotes stakeholder cooperation on issues such as theft and bugs (such as the TheDAO incident), allowing for faster and cleaner resolution. 

Each zone might have its constitution and governing process. The Cosmos Hub, for example, might have a constitution that guarantees immutability at the Hub (no rollbacks except for defects in the Cosmos Hub node implementation), but each zone can specify its rollback policy. The Cosmos network provides maximum freedom and the opportunity for permissionless experimentation by facilitating interoperability among different governance zones. 

On this basis, the Cosmos crypto Hub runs several distinct blockchains known as "zones". A steady stream of recent block commits from zones placed on the Hub helps it maintain track of each zone's current condition. Similarly, each zone monitors the Hub's status. Packets of data are then transmitted from one zone to another by publishing Merkle-proofs as proof that the data was delivered and received. This technology is commonly known as inter-blockchain communication, or IBC for short.  

Since the Cosmos crypto Hub serves as the primary ledger for the entire system, its security is critical. While each zone can be secured by as few as four Tendermint blockchains, the Hub must be secured by a globally decentralised set of validators capable of withstanding the most severe attack scenarios.

## Zones 

A Cosmos zone is a self-contained blockchain that uses IBC messages to connect with the Hub. According to the Hub, a zone is a multi-asset dynamic-membership multi-signature account that may send and receive tokens using IBC packets. A zone, like a cryptocurrency account, cannot send more tokens than it has, but it can accept tokens from those who do. A zone can be designated as a "source" of one or more token types, allowing it to raise the supply of those tokens. 

Validators of a zone connected to the Cosmos Hub may stake atoms of the Cosmos Hub. While double-spend assaults on these zones would result in the cutting of atoms with Tendermint's fork accountability, a zone with more than 2/3 Byzantine voting power can commit an incorrect state.

Because the Cosmos Hub does not validate or execute transactions committed on other zones, users must deliver tokens to zones they trust.
In the future, the Cosmos Hub's governance system may approve Hub upgrade requests that consider zone failures.


Cosmos Crypto Explained

If you've ever seen the term and asked yourself, 'what is staking crypto?', we're here to help.
Staking crypto is an excellent method to make passive income from your crypto assets. The profits might especially appeal to people who have already invested a considerable amount of their net worth in cryptocurrency. 

In crypto, there are two basic consensus mechanisms: proof of work (PoW) and proof of stake (PoS). The role of consensus mechanisms is to assure the legitimacy of transactions. An additional block is added to the blockchain if a transaction is authorised. These protocols safeguard the network.
PoW systems safeguard networks by utilising computational power and do not enable crypto to be staked. PoS methods, on the other hand, maintain security through verifiers that tie up crypto — or stake it, as the term staking crypto implies. The validators are compensated for staking crypto to safeguard the network. 

Few cryptocurrency owners can become validators. This is owing to the high value of necessary crypto holdings and the requirement for hardware infrastructure with appropriate processing power. However, there are crypto-staking solutions with lower entrance hurdles.  

## How to Stake - What is Staking Crypto?

There are other staking pool alternatives available, including P2P Validator and Staking. These platforms provide cryptocurrency staking solutions that "pool" crypto assets from many participants. This implies that the quantity of cryptocurrency needed to stake is less than if a person became a validator individually. 
Exchanges are the most accessible and straightforward way for many crypto holders to stake their coins. Some of the top cryptocurrency exchanges, including Coinbase and Binance, provide crypto staking services.  

Coinbase compensates its members just for keeping a certain number of specific cryptos in a wallet, with dividends ranging from daily to quarterly. The staked cryptocurrency does not even need to be acquired through the Coinbase exchange.  
Binance is one of the most comprehensive cryptocurrency staking platforms. In most cases, it has more than 112 tokens that may be staked from one to four months. 

PoS cryptos are the only ones that can be staked. [Ethereum (ETH)](/coins/eth), Polkadot (DOT), Solana (SOL), NEAR Protocol (NEAR), Cardano (ADA), and Tezos are among the most popular and regularly staked cryptos (XTZ). 

## What is Staking Crypto - The Benefits

Cryptocurrency may be safely stored in a wallet, and ownership can be preserved throughout the crypto staking process. Staking cryptocurrency also gives benefits for confirming transactions and safeguarding the network.  
This reward is a percentage return, akin to a dividend or interest on a checking or savings account. The return varies depending on the cryptocurrency invested, but, in all cases, it is far larger than the yearly percentage returns that consumers obtain from traditional banks. 

The greater the amount of cryptocurrency staked, the greater the possible benefits. Those with substantial crypto holdings can thus become exceedingly wealthy through staking. It is a good method of wealth creation for long-term holders of PoS crypto assets. It may be quite profitable if done correctly. 
 
## Is Staking Crypto Safe?

The regular fluctuation of cryptocurrency prices is one disadvantage. As previously said, the yields generated will be determined by the crypto token. Volatile cryptocurrencies can provide bigger profits, but this comes with the danger of the underlying token's price falling.  
The recent Terra LUNA token crash, which resulted in billions of dollars in losses, illustrates this.

Some forms of crypto staking require assets to be locked up for a specific amount of time, which means no action can be performed even if the price of the cryptocurrency falls. Liquidity pool hacking might potentially result in the entire loss of the crypto tokens invested.

## Final verdict 

Staking cryptocurrency has both good and bad effects. For risk-takers, the potential of significant returns for little to no effort makes the venture viable. However, for the ordinary crypto investor, exchanges remain the greatest option for crypto staking.

Whether or not to what is staking crypto will depend on an individual's attitude towards risk. Crypto earners averse to risk may prefer to preserve the ownership of their assets. On the other hand, risk-takers would be more than happy to stake their crypto for higher potential returns.
Other risks include staking pools being hacked, which can result in total loss of the crypto asset staked.


What is Staking Crypto?

## Why the [Cardano](https://cardano.org/) update milestone has been pushed back

According to Cardano co-founder Charles Hoskinson, the Vasil update will significantly increase Cardano's performance and smart contract capabilities. It was due to be completed by June 29, but the most recent estimate puts its release date in the last week of July. The developers added that a "few remaining issues" were required to certify that everything was "functioning as intended" and that they would "need a few more days" to accomplish this. 


## What the Vasil fork entails 

The Vasil hard fork will increase the Cardano update chain's speed and scalability. It will include new technologies, most notably diffusion pipelining, enabling more efficient block propagation, resulting in larger blocks, and various Cardano update Improvement Proposals to enhance data storage and access. The overall effect is more significant despite minimal alterations to the underlying technique.


## What is the market's anticipated reaction to the Cardano update? 

Despite the platform's decision to postpone the rollout of the Vasil hard fork, intended for June 29, the markets were unaffected. The previous three trading sessions have been positive, resulting in a 15% gain in price. Today, the cryptocurrency appears to have resumed its last aggressive bullish surge, which is already up 2.5 per cent. The move also seems to have positive momentum, indicating a likely higher market close. 

Therefore, we expect the Cardano update price prediction to continue its bullish run on the back of the three previous trading sessions. There is a good chance that prices will rise to the $0.65 resistance level which will significantly depend on the present bullish trend's strength. Our analysis will be in vain if prices fall below the $0.44 support level. The bearish trend will have been established by that time.


More [blockchain news](/news/category/blockchain-news).




Cardano Update: developers delay Vasil hard fork by a month

## Bill Gates crypto stance

Bill Gates crypto, co-founder of Microsoft, has stated that cryptocurrencies and NFTs are "[100% based on greater fool theory](https://www.msn.com/en-us/money/markets/bill-gates-says-crypto-and-nfts-are-a-sham/ar-AAYuHWF?ocid=uxbndlbing). I am neither long nor short any of those things," the tech mogul said of cryptocurrency. Bill Gates recently joked that "expensive digital photographs of monkeys" will "benefit the world enormously," alluding to Bored Ape NFTs. I am used to asset classes, such as a farm with output or a firm that makes stuff," Bill Gates crypto stated. 

NFTs, according to Bill Gates Crypto, are tokens that cannot be swapped for one another. They are frequently promoted to establish ownership of digital goods such as art or sports collectables. However, given the energy-intensive nature of cryptocurrencies, many regard them as overhyped and damaging to the environment. Many NFTs are constructed on the Ethereum network, which is the second-largest token.  

This week, cryptocurrency prices plummeted when Celsius, a crypto lending service, halted all account withdrawals. After the collapse of UST, a so-called stable coin that was supposed to be worth $1, and LUNA, its sister token, the wounded crypto industry was already licking its wounds. [Bitcoin](/coins/btc) is currently trading at $21,173, a 7 per cent decrease in the previous 24 hours. Since the beginning of 2022, the world's largest cryptocurrency has lost more than half of its value.  

In contrast to the Microsoft mogul, Bill Gates crypto views..

## Visa rolls out Bitcoin cashback cards in Latin America

The payments giant Visa has introduced its first crypto cards in Latin America and will premiere its new goods in Brazil and Argentina through numerous new partner organisations. The company noted in a statement that the move "includes newly announced cryptocurrency card programs and collaborations" with regional finance providers and crypto exchange companies.  

The incentive comes on the heels of Visa's previous, comparable crypto-related action in the region. Late last year, the business collaborated with the Argentine crypto exchange Lemon Cash to introduce a Visa card that provides clients with a 2% bitcoin (BTC) reward when they use the card to make payments. Visa is also launching a Visa Lemon Cash prepaid card in Argentina. Similarly, comparable solutions will be made available in Brazil in collaboration with the crypto-focused banking company Alterbank and the neobank Zro Bank. 

According to a senior vice president of Visa's products and innovations in Latin America, the rationale for this decision is that the region's crypto ecosystem is gaining pace through more investment, higher consumer acceptance, and crypto-enabled use cases. This will enable them to collaborate on our plan to advance the future of cryptocurrency and payments for our customers, clients, partners, and consumers." This contrasts with Bill Gates' crypto view. 


 



pink image of bill gates and bored ape NFT assets

Bill Gates on crypto- NFTs are based on 'greater fool theory'

Celsius Network Ltd, one of the major crypto lenders and main players in the world of decentralised finance, confirmed late Sunday that it was [halting withdrawals, swaps, and transfers](https://markets.businessinsider.com/news/currencies/celsius-price-crash-crypto-market-outlook-bitcoin-ethereum-terra-luna-2022-6#:~:text=Crypto%20lender%20Celsius%20has%20frozen%20all%20withdrawals%2C%20swaps,month%20after%20Terra%27s%20luna%20cryptocurrency%20crashed%20to%20zero.) after weeks of speculation about its ability to make good on the increasingly large returns it offered on certain of its products, including yields as high as 17%.

Crypto loan solutions have grown in popularity, with numerous firms launching offerings in the past year. Celsius raised $750 million in the capital last year from investors including Caisse de Dépôt et Placement du Québec, Canada's second-largest pension fund. Celsius was priced at $3.25 billion at the time. Celsius has $11.8 billion in assets as of May 17, a drop of more than half from October.

The decision to stop withdrawals effectively halted a platform with registered entities all over the world and billions of dollars in digital coins under management, ramping up a selloff in the broader market that was already underway due to concerns about the possibilities of tightening monetary policy ahead of a Federal Reserve meeting this week.

While Celsius crypto is a centralised platform with operations and staff that distinguishes it from DeFi, its deep involvement in the space, including investment in Terra and various risky strategies devised to earn high yields that it can then pass on to its users, has raised concerns about its viability.

Celsius crypto is a key player in the market for digital yield products, letting users lend out their tokens as collateral for other crypto initiatives. Traders were able to earn yearly rates of up to 17% in exchange for lending their tokens.

Celsius's crypto withdrawal ban early Monday was a U-turn after the company had spent many days denying claims that consumers couldn't make withdrawals. At the weekend, CEO Alex Mashinsky challenged sceptics to find "even one individual who has an issue withdrawing. Celsius crypto stated that the redemption freeze was implemented for the benefit of our entire community to control liquidity and operations while we take steps to preserve and safeguard assets.

The Celsius crypto move spurred a collapse across cryptocurrencies, with their value falling below $1 trillion on Monday for the first time since January 2021, raising concerns that the meltdown might spread to other assets or firms.

## Bitcoin Crashes

Following Celsius's crypto statement, [bitcoin fell to an 18-month low of $22,725](/news/article/bitcoin-price-crash-celsius) before modestly rebounding to about $23,265. The second-largest cryptocurrency in terms of market capitalisation Ethereum fell as much as 18% to $1,176, its lowest since January 2021. Companies with a stake in cryptocurrencies have previously warned that drops in token values might have repercussions, such as triggering margin calls.

Markets continued to fall on Monday following the release of U.S. inflation figures on Friday, which revealed the highest price increase since 1981, prompting investors to bolster their bets on Federal Reserve rate hikes. According to research, Celsius’s crypto token has dropped 97 per cent in the last year, from $7 to about 20 cents.


Investors Panic as Celsius Crypto Freezes Crypto Withdrawals 

The supply of Bitcoin is capped at 21 million units, so how many [Bitcoins](/coins/btc) are left to mine?

The cap is established by the source code of Bitcoin, written by its creator, Satoshi Nakamoto, and which cannot be modified. Once every Bitcoin is mined, the number of coins in circulation will be fixed indefinitely. 

In comparison, central government money has no set boundaries. Governments can issue as many dollars or rupees as they need if they do not mind the resultant inflation. Before Bitcoin, digital cash had the problem of double-spending. Until its development, the only method to ensure a party did not spend money twice was for some central authority to track coins transferred and received, updating users' balances – just like the existing banking system.

However, Nakamoto's discovery enabled computers running a piece of software to impose rigorous spending constraints that prohibited a digital representation of value from being spent twice for the first time – or made it prohibitively expensive to do so. Previously, miners would sell their freshly created Bitcoin on the market to fund operational expenditures in US dollars. However, mining companies are increasingly adding their created currencies to their balance sheets and issuing Bitcoin-backed loans. As a result, Bitcoin has become even rarer as a more significant proportion of the entire Bitcoin supply is locked up for the long term.

As of January 2022, 18.9 million Bitcoins had been mined, with around 2.1 million Bitcoins left to be mined. The block reward - or the number of new Bitcoins awarded to crypto miners for creating a new Bitcoin block - determines how long it takes to mine one Bitcoin. At the moment, 6.25 Bitcoins is the block reward, and a new block is generated every 10 minutes or so. Every 1.6 minutes, a new Bitcoin is mined.

## Production of Bitcoin 

According to the Cambridge Bitcoin Power Consumption Index, the production of Bitcoin requires 143.5 terawatt-hours of electricity per year, which is more than in Ukraine or Norway. As of August 2021, mining a single Bitcoin would need nine years of household-equivalent power. Application-specific integrated circuits, or ASICs, are necessary computer hardware and can cost up to $10,000. ASICs consume massive quantities of energy, which has sparked criticism from environmentalists and restricts miners' profitability. Joining a mining pool is one method to share some of the hefty costs of mining. Pools enable miners to share resources and increase capabilities, but shared resources imply shared incentives. Therefore, the potential payment is lower while using a pool.

Surprisingly, the Bitcoin protocol's supply restriction of 21 million is not stated in its white paper or code. Instead, the ever-decreasing quantity of Bitcoins paid by each block, together with the decentralised network of computers enforcing that reward, allows the network to implicitly forbid the issuing of Bitcoin beyond the limit.  

Nakamoto set the restriction to make the money rare and to minimise inflation that may result from an infinite supply. The idea is simple: if there is a limited amount of Bitcoin, its value would eventually grow due to increased demand and less supply. The difficulty is that Bitcoin achieved 90% of its maximum supply earlier this month. The most significant effect of approaching and eventually exceeding Bitcoin's supply cap is that mining will become significantly less economical. However, the procedure will take more than a century. Bitcoin miners will still be compensated, but only through transaction fees rather than newly generated coins. Since the cryptocurrency's inception in 2009, about 19 million bitcoins, or 90% of the total, have been mined.

Nonetheless, recent predictions indicate that the final Bitcoin will not be created until about 2140. The rate of new Bitcoin left to mine is expected to diminish over time. Every 210,000 blocks, the pay-out for mining each block of bitcoin, which is done every 10 minutes, is cut in half. This occurs every four years. The reward per block had decreased from its original value of 50 BTC per block in 2009 to just 6.25 bitcoin by 2022. By the end of 2024, miners are scheduled to receive just 1.56 Bitcoins for confirming a block of transactions.  

## The History of Bitcoin Mining

Mining was swift at first: according to research firm [Messari](https://messari.io/), half of the 21 million potential Bitcoins had already been mined by late 2012. In 2021, issuance dropped significantly, with fewer than half a million BTC mined for the entire year. If demand for Bitcoin continues to rise, reaching the supply limit would certainly raise its price. This is because everyone desiring to acquire Bitcoin will have to do it from another person, giving sellers influence over the price. Even if all Bitcoins are produced, far less than 21 million will be actively circulating. Chainalysis, a data analytics firm, believes that nearly one-fifth of all coins created have been lost. Bitcoin is stranded in wallets with lost keys, by the physical loss of hard drives where those keys were kept, or even in wallets belonging to deceased owners who never passed on the credentials required to access them. If Bitcoin in 2140 is mainly used as a store of value rather than for everyday purchases, miners can still profit - even with low transaction volumes and the absence of block rewards.

Miners can charge hefty transaction fees to execute high-value or big batches of transactions, with more efficient "layer 2" blockchains like the Lightning Network collaborating with the Bitcoin blockchain to allow everyday Bitcoin spending. However, because the rewards are half every four years, the cost of operating the enterprise will soon outweigh the miners' earnings. Mining may become an unsustainable economic model. Transaction fees will, however, eventually climb because only a limited number of transactions may be validated every 10 minutes. This would be compensation for miners suffering a lack of block rewards, but the transaction amount is dependent on the network's future state. Miners might also employ innovation to improve energy efficiency and reduce expenses. 

If the number of network transactions grows in the future, the pace of the transactions may slow. Bitcoin's architecture prioritised accuracy and integrity over speed. If the volume of transactions in the network falls, Bitcoin could become a reserve asset. That would push out small retail traders, which would be replaced by substantial institutional players, raising transaction costs and making trading more expensive.  
Furthermore, if Bitcoin mining becomes unprofitable in the absence of block rewards, the following damaging effects may occur: 
Groups of miners may create cartels to dominate mining resources and charge higher transaction fees.  

Selfish mining happens when miners agree to hide new legitimate blocks and then release them as orphan blocks. The Bitcoin network has not verified these new blocks. This method can lengthen block processing delays and guarantee that fresh blocks are subject to large fees when they are issued to the blockchain. 

Scarcity will undoubtedly contribute to increased Bitcoin buying. FOMO (fear of missing out) cold create a rush to purchase the rare asset, and those who already own it will be in an advantageous position to sell. However, there is also hope that prospective rules will help keep volatility under control. 

Furthermore, if supply stagnation continues to increase Bitcoin's value for the next 100 years, consider this thought experiment: a home worth one Bitcoin now would be worth half a Bitcoin in 10 years, one-tenth of a Bitcoin in 30 years, 0.05 Bitcoin in 40 years, and so on. Such a system would not function in the same way we expect rupees and dollars to, which explains both the excitement and concern about what Bitcoin in its current shape may do to our economic system. 

Bitcoin doesn't just bring scarcity to the digital domain. It offers a predictable monetary policy that can be planned over time, and which differs from the present monetary system in which governments and policymakers can expand the supply of money, as we have seen in recent years. As a result, currency depreciation is impossible in Bitcoin, and its users' purchasing power is safeguarded. In addition to safeguarding people's buying power, Bitcoin's predictable policy allows users to prepare for the future because they can be confident that no one will debase their money. Important societal improvements may be possible through a strong commitment to long-term labour and investment, rather than short-term bets.

The price of Bitcoin in US dollars might be viewed as a lagging reflection of humanity's comprehension of the technology and its revolutionary value proposition. So, while the Bitcoin price may eventually trend to infinity, it will not be a reality until most of the global population or most of the world's money realises it.






	


How Many Bitcoins Are Left to Mine?

Confused by cryptocurrency tech? You need a Blockchain for Dummies guide.
The way blockchain records data makes it difficult or impossible to hack, change, or cheat the system. The decentralised database, controlled by various participants, is known as Distributed Ledger Technology (DLT). 

It is a distributed digital log of transactions that is duplicated and distributed throughout the blockchain's entire network of computer systems. Every transaction is recorded in every participant's ledger, and each block in the chain comprises numerous transactions. The block of data keeps any information needed, including what, when, who, where, the cost involved, the state of a shipment, and variables such as the temperature.

As an asset proceeds between locations or the owner changes, the respective blocks form a data chain. The blocks confirm the order and time of transactions, and they are firmly tied together to stop any block from being changed or placed between the two current blocks.  

All network participants can access the distributed ledger and its immutable record of transactions. With this shared ledger, transactions are recorded just once, reducing the duplication of effort that is frequent in traditional commercial networks.
Each additional block strengthens the previous block's verification and thus the entire blockchain. This makes the blockchain tamper-evident, providing the critical strength of immutability.  

This removes the risk of bad actor manipulation — and establishes a trustworthy record of transactions for you and other network users.  

No participant may edit or tamper with a transaction after it has been logged into the shared ledger. If a transaction record contains a mistake, a new transaction must be recorded to remedy the issue, and both transactions are then visible.  
This implies that if one block in a chain is altered, it is evident that it has been tampered with. Hackers would need to modify every block in the chain across all distributed copies of the chain to destroy a blockchain system. 

A smart contract is a compilation of rules stored on the blockchain and carried out automatically to quicken the speed of transactions. A smart contract can specify the terms of corporate bond transfers and the payment of travel insurance, among other things. Blockchains are distributed ledger systems that record transactions with an immutable cryptographic signature known as a hash. 

Continuing our blockchain for dummies guide, let us remind you that blockchains are constantly expanding as new blocks are added to the chain, increasing the ledger's security.  

The overarching issue is trust. How can we believe that if someone establishes new money called the Y dollar, they will not award themselves millions of Y dollars or perhaps take your Y dollars? 

It was this issue that [Bitcoin](/coins/btc) was created to address, using a special database known as a blockchain. Most conventional databases, such as SQL databases, have someone in charge who can update the entries. Blockchain is unique because no one is in control; it is run by the individuals who utilise it. Furthermore, Bitcoins cannot be counterfeit, hacked, or double-spent — thus, anyone who holds this money may be confident that it has some worth.  
 
A blockchain network can track orders, payments, accounts, production, and other things. And, since members share a single view of the truth, you can see all the complexities of a transaction, giving you greater confidence as well as new efficiencies and opportunities. 

## Benefits of Blockchain for Dummies? 

Currently, operations frequently waste time and resources on duplicate record keeping and third-party validations. Fraud and cyberattacks can exploit record-keeping systems. A lack of transparency can slow data verification. And since the introduction of IoT, transaction volumes have surged. All of this slows commerce, depletes the bottom line, and suggests that a different method is required. Here comes blockchain.  
 
## Trust  

You may be sure that as a member of a members-only network, you are receiving accurate and timely data, and that your confidential blockchain records will be shared only with members of the network to whom you have authorised access.  
 
## Security  

Because confirmed transactions are permanently stored, all network participants must agree on data veracity. Nobody, not even the system administrator, can erase a transaction. 

## Increased Efficiencies  

Time-consuming record reconciliations are removed with a distributed ledger shared across network participants. A collection of rules, known as a smart contract, may also be placed on the blockchain and implemented automatically to speed up transactions. 

## Types of Blockchain Networks for Dummies
 
### Blockchain public networks  

A public blockchain is one that anybody may join and participate in. Bitcoin is an example. Significant processing power may be required, as well as little or no transaction privacy and inadequate security. These are critical concerns for the application of blockchain in the corporate world.
 
### Blockchain private networks  

Like a public blockchain network, a private blockchain network is a decentralised peer-to-peer network. A single organisation governs the network, controlling who may participate, implements a consensus procedure, and maintains the shared ledger. Depending on the application, this can increase participant trust and confidence. A private blockchain can be hosted on-premises or behind a corporate security system.
 
### Blockchain networks with permissions  

Businesses that create a private blockchain create a permissioned blockchain network. It is worth noting that public blockchain networks may be permissioned as well. This limits who is permitted to join the network and what transactions are made. To participate, you must have an invitation or permission

### Blockchain consortiums  

The upkeep of a blockchain may be shared across many companies. These pre-selected organisations control who may submit transactions and access data. A consortium blockchain is appropriate for business circumstances where all stakeholders must be approved and share ownership of the blockchain.
 
### Blockchain Security for Dummies  

When developing an enterprise blockchain application, it is critical to have a complete security plan that employs cybersecurity frameworks, assurance services, and best practices to decrease the risk of attacks and fraud.  
 
While blockchain technology creates a tamper-proof transaction ledger, blockchain networks are vulnerable to cyberattacks and fraud. Those with malicious intent can exploit known weaknesses in blockchain technology and have been successful in various hacks and frauds throughout the years. Here are a couple of such examples:
 
### Exploitation of code  

Through code exploitation, the Decentralised Autonomous Organisation (DAO), a venture capital fund based on a decentralised blockchain inspired by Bitcoin, was plundered of more than USD 60 million in ether digital currency – almost one-third of its value.
 
### Keys stolen  

The loss of roughly USD 73 million in client Bitcoins from Hong Kong-based [Bitfinex](https://www.bitfinex.com/), one of the world's largest cryptocurrency exchanges, revealed that the currency remains a substantial danger. The reason was the theft of private keys, which are personal digital signatures.
 
### Employee computer hacked 

When Bithumb, one of the major Ethereum and Bitcoin cryptocurrency exchanges, was recently attacked, hackers accessed the data of 30,000 customers and stole USD 870,000 in Bitcoin. Even though it was an employee's PC that was hacked rather than the main servers, the incident prompted concerns about general security.

When creating a private blockchain, ensure it is implemented in a secure, robust architecture. Poorly chosen underlying technology for company goals and operations might expose data to security threats due to vulnerabilities. 
Consider the dangers to business and governance. Financial repercussions, reputational considerations, and regulatory hazards are all examples of business risks. Governance issues stem from the decentralised nature of blockchain systems, which necessitate strict controls over decision criteria, governing policies, identification, and access management. 
 
Understanding and controlling blockchain network risks are important to blockchain security. A blockchain security model comprises the strategy to deploy security to these controls. Create a blockchain security model to verify that all security safeguards for your blockchain solutions are in place. 

Administrators must create a risk model that addresses all business, governance, technological, and process concerns to execute a blockchain solution security model. They must next assess the dangers to the blockchain solution and develop a threat model. Then, administrators must create the security measures that will reduce the risks and threats based on the three categories listed below:  

Implement blockchain-specific security mechanisms.  
Use standard security controls.  
Implement blockchain business controls. 
How Does Blockchain Operate in the Business World?  
Blockchain for business is useful for entities that do transactions with one another. Permissioned users may access the same information simultaneously using distributed ledger technology, improving efficiency, removing friction, and building trust. Blockchain technology can also enable a solution to grow and scale quickly. Many solutions can be customised to do many jobs across sectors.  
 
## What Role Does Blockchain Play in Environmental Protection?  

Blockchain technology may enable new change models, expand knowledge, and assist social groups in creating common systems of record that meet the needs of corporate donors. Blockchain guarantees that production processes and environmental effects may be recorded, audited, and reported. 

So, to summarise for dummies, blockchain technology enables operational, regulatory, increased visibility, and traceability verification efficiencies. This technology also functions as a robust database that can be readily coupled with big data. Blockchain has the potential to reduce costs and make many services more competitive.
 
 
 



Blockchain for Dummies: The Tech Explained

[Bitcoin's](/coins/btc) price rose above $30,613, increasing by 5.62% in the last 24 hours. [Ethereum's](/coins/eth) price also rose by 7.02% to $1,902 in the same time frame.  

The [Bitcoin (BTC) price](https://coinmarketcap.com/currencies/bitcoin/) remained far above the $28,500 support zone and began a new upward trend over the $29,200 resistance mark. As of writing, the price has surpassed $30,600 and has increased by more than 5% in a single day. 

Similarly, the price of Ethereum (ETH), the second-largest cryptocurrency by market capitalisation, is back over the $1,850 resistance level and is up 6% in a day.

BTC and ETH were not along in experiencing 24 hours of notable value rises on the cryptocurrency markets.
Ripple (XRP), which is another major altcoin, was aiming for an upward break over $0.40. ADA gained 12% and broke through the $0.50 resistance level. 

## Bitcoin Price Rises

The Bitcoin price began to rise steadily after establishing a solid base at $28,500. BTC surpassed $30,000 and entered the positive zone. The next significant resistance level is at $30,500. A clear move above $30,500 may signal the start of a more rapid rise. It might rise to $32,000 in this case. On the downside, $29,500 provides immediate support. The major weekly support is at $28,500. 

## Ethereum Price Update

Ethereum's price stayed firmly over $1,700 and began a steady rise above the $1,850 resistance zone. On the flipside, immediate resistance is found at $1,920. The next significant barrier is at $1,950, over which the price might break $2,000 for the first time in months. If there is a downward correction, the market may find offers, around $1,820. The next big support is at $1,750. 

A co-founder of a cryptocurrency exchange stated that Bitcoin remains stable. Although, reaching its ultimate strength will take time, experts have observed.

Over the previous 24 hours, the overall cryptocurrency market volume has climbed by 4.74% to $53.47 billion.
Keep following Latest Moni from Moni Talks for the latest cryptocurrency price rise news, breaking market stories and blockchain insight.


Bitcoin Price and Ethereum Price See 24hr Rise

The [Blockchain Backer Twitter](https://twitter.com/B_CBacker) feed was bound to have an opinion on a recent multi-million dollar crypto hack, and it didn't disappoint.

Blockchain analysis researchers have traced the large quantity of cryptocurrency stolen last month from the Ronin network bridge to the North Korean hacking group Lazarus. The hackers stole large amounts of the [Ethereum](/coins/eth) currency and USDC stable coins totaling $540 million at the time.

It is believed that North Korean cybercriminals targeted multiple organisations in the blockchain technology and cryptocurrency industry. The hacks started with phishing messages to employees on various communication platforms. High-paying jobs were offered to coerce the potential victim to download cryptocurrency applications that contain malware.
 
Sky Mavis is looking to recover 173,600 Ethereum and $25.5 million from the hackers. The attackers zoned in on the bridge to Ronin blockchain, which acts as an intermediary between Axie Infinity and blockchains such as Ethereum. Where users deposit Ethereum or USDC to Ronin and then purchase non-fungible token items or currency within the game. They can also sell their in-game assets and withdraw the money.
 
The attackers used hacked private security keys to compromise the network nodes that validate transfers to and from the Ronin blockchain. 

After compromising four of Sky Mavis’ nodes, the attacker exploited them to get access to one managed by the community-owned Axie DAO. 

This allowed them to override any transaction security and withdraw whatever funds they liked.

## Bitcoin Backer Twitter View

The hack could not have been prevented as the hackers used the features of the chain and the ability to vote against it, according to Charlie Shrem, Blockchain Backer, on Twitter. He tweeted this to his 250k followers on Twitter, where he interviews and regularly discusses the impact of Bitcoin and Blockchain. 

On Blockchain Backer Twitter, Shrem recommends that people do not save screenshots or text files of their passwords and private keys on their computers, as hackers can scan them without them knowing. In his opinion, password managers are a better option for your accounts as you can create randomized passwords without remembering them all!

Shrem founded BitInstant in 2011, a platform that allows the exchange of dollars into Bitcoin. It operated until 2013 and gained more than 700,000 followers. At a point, it was processing nearly 30% of all Bitcoin transactions.

In December 2014, Shrem was sent to prison for indirectly sending $1 million in Bitcoin to Silk Road. Shrem is considered a Bitcoin evangelist for how he brought Bitcoin to the mainstream. 

## Staying Safe

Cold storage is seen as more secure as your crypto will be on an encrypted flash drive. So, if a thief wants them, they’ll have to steal the physical device. You can also enable two-factor authentication (2FA) on your accounts. Then a thief would need not just your password, but to gain access to your mobile phone. If hackers gain access, you can receive your access code by downloading an app that is a hardware key designed for 2FA. 

Blockchain Backer Twitter View on Crypto Hack

In this review, we discuss [Bitcoin Trader](https://www.bitcointrader.com/), a cryptocurrency trading bot whose aim is to improve the profitability of crypto traders within the market. 

The [Bitcoin](/coins/btc) robot was developed as a flexible trading tool, merging automated and manual trading tools to benefit a wide range of traders. It is easy to operate and works based on predefined rules set by users. These can be altered at any time; the rules can be changed based on the trader's preference, experience level, or risk appetite.

Machine learning models and artificial intelligence are used by Bitcoin Trader to analyse the markets and spot movements of various trends. Thus, finding the best entry and exit points for trades and increasing the trader's chances of a higher return. The developers of this robot state that it scans the latest market news, analyses trends, and enters trades quickly and frequently, with the system being 0.1 seconds faster than the market itself.

## Strain on Users Reduced

They add that the bot can help with market analysis and reduce the strain of extensive research on users. It is also believed that the bot is 85% accurate. Furthermore, it ties traders with brokers across the world. The broker then bears the responsibility of position sizing and trade execution. 

The system also allows you to set your specifications and trade based on your research. This suits more experienced traders, who better understand the market and are more comfortable conducting their research. The goal is for you to make a profit regardless of your trading strategy or system.

The robot’s speed also extends to its transactions, processing deposits within minutes. Withdrawals are also processed in 24 hours. The bot doesn’t charge any fees for transactions or account maintenance, nor are commissions taken on your trades. This greatly benefits the customer, as your only cost is the minimum deposit, which currently stands at $250. This price is in line with many other crypto trading bots in the financial space. With the demo account, you get the chance to do proper research and improve your position. There is also customer support via email and phone.

#No Software Installation Needed

Bitcoin Trader is a web-based platform, so no software installation is needed, and no updates need to be downloaded. It can be used from any desktop, laptop, tablet, or mobile phone worldwide, providing there is a stable internet connection. Also, even though the name is Bitcoin trader, you can trade a vast number of cryptocurrencies on the platform. Verification is also quick, with the only information required being the user information and their payment details.

The Bitcoin Trader robot seems credible, with a success rate of 85%, and there are no fees apart from its minimum deposit amount. However, there are risks involved, as with any form of trading, that can lead to you losing your initial deposit. Therefore you must approach the bot with caution and proper research before using it to put on trades. You must start with funds that you can do away with and only trade within the appropriate risk parameter and don’t trade over the minimum balance.



Bitcoin Trader Review: What Is It?

It launched as a meme coin with the slogan "to the moon". [Dogecoin](/coins/doge) could now be heading into space for real.

DOGE-1, a 40-kilogram cube satellite that will fly as a payload on a Falcon 9 rocket, was unveiled on Sunday by Geometric Energy Corporation.  

DOGE-1 is a satellite that will be launched on a SpaceX Falcon 9 rocket and will circle the moon to "collect lunar-spatial intelligence via onboard sensors and cameras with integrated communications and computing capabilities."

According to the news statement, Dogecoin is advanced enough to fund a commercial moon expedition fully and will be used for all lunar transactions between the two firms.

This expedition will demonstrate the usage of cryptocurrencies in space and build the framework for interplanetary commerce, according to SpaceX Vice President of Commercial Sales Tom Ochinero in a statement published by Geometric Energy.

## Social Media Hints

There was a lot of "moon Dogecoin" chatter after hints on social media.

The journey, scheduled for the first quarter of 2022, follows Elon Musk's 1 April statement pledging to place Dogecoin "on the literal moon". Not everyone initially took it seriously as he tweeted about it on April Fool's Day. Musk added, "SpaceX is going to put a literal Dogecoin on the literal moon." In cryptocurrency parlance, this is known as "shilling" – the practice of constantly promoting a specific coin to increase its price. He said that the expedition would be paid for in DOGE and that it would be the "first crypto in space". However, the quantity of Dogecoin involved in the transaction with SpaceX was not revealed.

## Musk Refers to Dogecoin as a 'Hustle'

It happened when the price of Dogecoin fell further after the technology mogul claimed on television that it was a "hustle." On Sunday, Dogecoin dropped more than a third of its value when Mr. Musk referred to it as a "hustle" while presenting the Saturday Night Live comedy sketch television show. Mr. Musk's recent comments on the voyage to the moon have aided in transforming the once-obscure digital currency into the world's fourth-largest cryptocurrency. 

According to cryptocurrency data tracker [CoinGecko.com](https://www.coingecko.com/), it has increased by more than 800% in the previous month, with a total market value of more than $70 billion. In May 2018, Musk told reporters, "It's intended to do 10 or more flights with no refurbishment between each trip.

"We believe the [Falcon 9] boosters can fly at least 100 times before being decommissioned."

However, the moon Dogecoin mission is still taking shape, and it is presently planned to be orbital.

According to a Geometric news statement, the mission will launch an 88-pound (40-kilogram) CubeSat (appropriately named Doge-1) on a mission to acquire "lunar-spatial intelligence... with integrated communications and computational capabilities." The cargo will also include video surveillance, the specifics of which are unknown. It is likely to include sensors and cameras. 

In the opinion of Geometric CEO Samuel Reid, the transaction solidified DOGE as a unit of account for lunar business in the space industry. The organisation also promised to do all future missions in Dogecoin, citing rewards such as its security and the ability to conduct transactions even after business hours.  

## A Difficult Week for DOGE

Despite all the wonderful news and enthusiasm, Dogecoin has had a difficult week. Its value has fluctuated for various causes, but Elon Musk has been at the centre of it all. Overall, the cryptocurrency has returned about 10,000% this month and rebounded late Sunday evening after a huge drop on Saturday following Musk's SNL appearance.

Dogecoin's position in terms of real-world utility has recently solidified. AMC Theatres in North America confirmed last month that crypto payments could be made using Dogecoin.

The ascension of Dogecoin to the moon will mark a new milestone in the crypto realm. SpaceX, as a pioneer in private space exploration, is continuously creating precedents for humanity's future in space, whether purposefully or unintentionally.


















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