Did you know that Bitcoin is 10.32% more expensive in South Korea?

There is a special term for this phenomenon, the “Kimchi premium.” It occurs when the value of a token on Korean exchanges rises above global prices. This happens due to high demand and activity from local South Korean investors. More often than not, a rising “Kimchi premium” indicates an overheated market.

So, while you and I were celebrating Bitcoin’s new all-time high of $70,000, in South Korea, the digital gold has already crossed the $72,000 bar 🙂

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TON is preparing for a jump to $11

A Twitter analyst (but it's not certain) thinks Toncoin is preparing for a potential 40% breakout to $11.

However, the TD Sequential indicator suggests that TON may briefly drop to $7.2 to gather liquidity before climbing.

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🔷Yesterday Ethereum-holders bought 298,000 ETH - this became the second largest daily purchase in Ethereum's history.

The record purchase was recorded on September 11, 2023. Then 317,000 ETH were bought in one day.

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Crypto speak: Floor is lava 🌋

“Floor is lava” is a term used in the crypto community to denote a possible market collapse. Crypto industry participants took the phrase from the game of the same name, in which players imagine the floor is lava and you can’t step on it.

In the context of crypto, the expression indicates unfavorable market conditions. Using it, you can draw attention to the fact that people need to be careful and make informed decisions when investing.

Also, the phrase is often used to defuse a situation. The fact is that the expression eventually acquired a semi-serious character. Sometimes, it is used to ironically note that the participants of the crypto community always need to be on alert (the exact essence of the game).

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UwU Lend has offered a $5 million reward for identifying a hacker

The DeFi platform UwU Lend's DeFi team has offered a $5 million reward to the person who finds the attacker.

UwU Lend was previously hacked for $19.5 million. A few days later, it was hacked again for $3.7 million.

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What is Blockchain Scalability?

Scalability is the blockchain network's ability to handle more transactions without slowing down or becoming too expensive. Just like a road becomes congested during rush hour, the blockchain also experiences congestion when too many transactions are processed simultaneously. Scalability aims to make cryptocurrency more accessible, efficient, and user-friendly for everyone.

How to fix scalability issues-
▪️Enlarge blocks to process more transactions simultaneously.
▪️Use payment channels like the Lightning Network to reduce congestion on the main blockchain.
▪️Consider proof-of-stake to require less computational power, thus improving scalability

Scalability is a major challenge in the crypto world, however, networks like Solana and Binance Smart Chain are leading the way with promising solutions.

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🔶 Binance founder doubles his fortune while behind bars

Forbes found 94 million BNB ($56 billion) in CZ's "stash" - that's 64% of the total number of BNB in circulation.

Forbes also states that Binance, together with CZ, own 71% of the 147 million BNB in circulation.

Thus, taking into account the recent rise of BNB, CZ's fortune has increased to $61 billion and he now ranks 24th among the world's richest people.

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Crypto Speak: POW

Proof of Work (PoW) is a consensus mechanism used in blockchain networks to validate and confirm transactions.

In a PoW system, miners compete to solve complex mathematical puzzles, with the first miner to find the solution being rewarded with newly minted cryptocurrency and transaction fees. This process requires significant computational power, making it costly and time-consuming.

However, it ensures network security and prevents double-spending. Bitcoin, the first cryptocurrency, uses PoW as its consensus mechanism.

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How bitcoin's price has changed compared to gold and NVIDIA stock since 2020

Guess the winner?

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On this day in 2018, Lionel Laurent of Bloomberg wrote:

"Bitcoin's historical track record suggests that its biggest jumps are due to speculation rather than real progress in utility or technology."

Look at bitcoin today - growing and thriving 🐳

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Crypto Speak: PoS

We've talked about Proof of Work (PoW) before, now let's discuss Proof of Stake (PoS).

Proof of Stake (PoS) is a consensus mechanism used in blockchain networks to validate and confirm transactions. In a PoS system, validators are chosen to create new blocks and secure the network based on the number of coins they hold and are willing to "stake" as collateral.

Validators take turns proposing and validating new blocks, with the chance of being chosen to create a new block being proportional to the amount of cryptocurrency they hold and are willing to stake.

PoS is considered more energy-efficient than Proof of Work (PoW) and is used by blockchain networks such as Ethereum 2.0, Cardano, and Tezos.

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Last week's summary for spot Bitcoin ETFs in the US saw an outflow of $580.6 million.

Investors began withdrawing capital from BTC-focused spot instruments after 4 weeks.

The market situation is extremely challenging, and it's likely that we won't see anything significant in the market until the end of the summer.

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🥇 13 years ago, the price of bitcoin collapsed from a high of $30 to $2.95.

The media called this drop the "Great Bubble of 2011". Since then, the bitcoin price has increased more than 20,000 times.

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Understanding Web Wallets

Web wallets offer the convenience of accessing your cryptocurrency funds from anywhere, at any time, through a web browser. They store your private keys on a remote server, allowing you to manage your funds online. However, this convenience comes with a risk of hacking or unauthorized access. To mitigate this risk, choose a reputable web wallet provider with robust security measures like two-factor authentication and encryption.

Here's an example: Let's say you create an account with a web wallet provider and deposit 1 Bitcoin (BTC). You can then use your username and password to log in and access your account balance, send and receive BTC, and perform other wallet functions. When you send BTC from your web wallet, the transaction is signed with your private key and broadcast to the blockchain network for validation. Once confirmed, the recipient receives the funds in their wallet.

Remember to only keep manageable amounts of cryptocurrency in a web wallet and prefer to store larger amounts in more secure offline wallets. Stay safe and secure in the world of cryptocurrency!

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Types of Yield Farming

As explained in the Yield Farming post, it's a popular way to earn passive income in the crypto space. Here are the main types of it:

▪️Liquidity providing: One of the most common types of yield farming involves providing liquidity to decentralized exchanges (DEXs) or lending platforms. By adding your tokens to a liquidity pool, you help facilitate trades on the platform, and in return, you earn a portion of the trading fees and other rewards.

▪️Staking: Another popular method is staking, where you lock up your tokens in a smart contract to support the network's operations. In exchange for staking your tokens, you receive rewards, typically in the form of additional tokens.

▪️Lending: Yield farming also includes lending your cryptocurrencies through decentralized lending platforms. By lending your tokens, you earn interest on the amount you lend out, allowing you to generate passive income on your holdings.

In essence,Yield farming can be lucrative, but it comes with risks. Always do thorough research before diving in. For more detailed insights on yield farming and other ways to earn in crypto, visit our website.

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🔵 Coinbase has introduced pre-launch market trading for investors to gain exposure to altcoins before mainstream exchange debut.


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What is a Ring Signature?

Ring signatures revolutionize digital signatures by enabling a group of users to collectively sign a message without disclosing the individual signer's identity.

This innovative concept, introduced in 2001, merges a signer's private key with public keys from a group to create an untraceable signature.

For instance, in Monero transactions, ring signatures cloak the sender's identity, ensuring privacy and anonymity. By blending multiple keys, ring signatures enhance security and confidentiality in cryptocurrency transactions, safeguarding user information while validating the integrity of messages.

Embracing ring signatures empowers crypto enthusiasts with a shield of anonymity, making cryptographic interactions more secure and private.

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