Anakay Master

Spot Trading 101: A Beginner’s Guide

Entering the world of cryptocurrency can be exciting but overwhelming for beginners. Spot trading is the simplest form of trading crypto assets and a great starting point for newcomers.

What Is Spot Trading?

Spot trading involves buying or selling cryptocurrencies for immediate settlement. You’re trading assets “on the spot” at the current market price, unlike futures or options trading, which deal with contracts for future transactions.

Key Features:

• Immediate Ownership: You own the actual cryptocurrency after purchase.
• Market Prices: Trades are executed at current market rates.
• No Expiry Dates: Unlike derivatives, spot trades don’t have expiration dates.

How to Get Started

1. Choose a Reputable Exchange: Select an exchange that supports spot trading and has strong security measures.
2. Create an Account: Sign up and complete any required verification processes.
3. Fund Your Account: Deposit fiat currency or other cryptocurrencies to begin trading.
4. Place Your Order: Use market or limit orders to buy or sell cryptocurrencies of your choice.

Tips for Beginners

• Start Small: Invest amounts you’re comfortable risking.
• Research Assets: Understand the coins or tokens you plan to trade.
• Monitor the Market: Keep an eye on price movements and news that could affect the market.

Why Spot Trading?

Spot trading is straightforward and less risky compared to other trading methods. It allows you to gain hands-on experience with the market dynamics and understand how cryptocurrency trading works without the complexities of leverage or margin requirements.

#basics #tutorials #beginners

Understanding Blockchain Technology: The Backbone of Cryptocurrencies

Ever wondered how cryptocurrencies like Bitcoin maintain security and transparency without a central authority? The answer lies in blockchain technology—the innovative system powering the entire crypto ecosystem.

What Is Blockchain?

At its core, a blockchain is a decentralized digital ledger that records transactions across a network of computers. This ensures data integrity, as each block of transactions is linked to the previous one, making the chain tamper-proof.

Key Features:
• Decentralization: No single entity controls the network, reducing the risk of manipulation.
• Security: Advanced cryptographic methods protect transaction data from unauthorized access.
• Transparency: All network participants can view transactions, fostering trust and accountability.

How Does It Work?

When a transaction occurs, it’s grouped with others into a “block.” This block is then verified by network nodes through consensus mechanisms like Proof of Work or Proof of Stake. Once validated, the block is added to the chain, and the transaction becomes immutable.

Why It Matters

Blockchain eliminates the need for intermediaries, reducing costs and increasing efficiency. Beyond cryptocurrencies, it’s revolutionizing industries like supply chain, healthcare, and real estate by enhancing transparency and security.

#basics #education

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$BTC

Aave Protocol’s GHO Stablecoin Goes Live on Arbitrum
After a vote by the Aave Decentralized Autonomous Organization (DAO), the GHO stablecoin has been deployed on the Arbitrum network, chosen for its low transaction costs and increased throughput. The Aave DAO plans to gradually launch GHO on multiple networks, prioritizing security and risk management by testing the stablecoin's performance on Arbitrum first.
Chainlink's Cross-Chain Interoperability Protocol (CCIP) facilitates this multi-chain deployment, enabling the migration of GHO from Ethereum to other networks. When GHO is moved from Ethereum to another blockchain, tokens are locked in an ETH-based Vault Contract and minted on the target blockchain. Conversely, tokens are burned on alternative chains and released from the Vault Contract when bridging back to Ethereum.

🤔 US Government Moves $240M Silk Road BTC to Coinbase

Bitcoin's recent slight gain was short-lived as it returned to its downward trend, dropping 1.37% to $60,761. This decline followed the movement of 3,940 BTC, worth about $240 million, by a US government-associated wallet to Coinbase Prime, raising fears of a potential selloff. The BTC was seized from Banmeet Singh during his January 2024 trial related to the Silk Road case.
The US government has a history of selling off Bitcoins seized from Silk Road, including a huge $3.6 billion worth in 2022, with plans to sell the remaining BTC in multiple lots throughout the year. The market impact of the latest potential selloff remains uncertain. The news comes just days after the Mt. Gox $9 billion in Bitcoin repayment plan and the German BTC sell-off.

#bitcoin $BTC

🔥 Solana's New Tools for Crypto Transactions on Any Website

The Solana Foundation is launching tools to integrate crypto transactions into traditional websites and applications, making them universally applicable, including on platforms like X. The "Actions" tool enables onchain transactions via websites, social media, and QR codes, while "blinks" transforms any "Action" into a shareable link for crypto transactions.
Jon Wong of the Solana Foundation stated that these tools broaden internet access to blockchain protocols, promoting mainstream adoption. Early adopters testing these tools include Solana projects like Jupiter, Tensor, and Phantom. Onchain activity is also blooming as a recent report shows that 60% of the new DEX volume happened on Solana.
$SOL #Solana

🔥 Michael Saylor's MicroStrategy Buys 11.9K Bitcoin for $786M

MicroStrategy has purchased an additional 11,931 BTC for approximately $786 million, at an average price of $65,883 per bitcoin, increasing its total holdings to 226,331 BTC, valued at nearly $15 billion. The company's founder, Michael Saylor, stated that the overall average purchase price for their holdings is $36,798 per bitcoin, costing around $8.33 billion in total.

This acquisition, following a March purchase of 9,245 BTC for $623 million, solidifies MicroStrategy's holdings at over 1% of the total 21 million Bitcoin supply. The latest acquisition was financed through an $800 million convertible senior note offering, which was increased from an initial $500 million due to strong market interest.
#bitcoin $BTC

🔥 TON Blockchain Ecosystem Soars as TVL Crosses $610M

The Open Network (TON) blockchain’s total value locked (TVL) has impressively soared to $610 million, marking an increase from $300 million in just three weeks, according to DeFiLlama data. This growth is propelled by substantial increases in TVL across top protocols on TON, with DeDust DEX leading the surge with its 53% TVL increase in the last week.

TON’s integration with Telegram, which has over 900 million users, positions it as a formidable player for Web3 integration. TON network’s adoption is further bolstered by the popularity of play-to-earn mini-games like Notcoin, Yescoin, and Hamster Kombat within the Telegram ecosystem. TON-based memecoins also rallied despite the general crypto market downturn.

#ton #not

Truth of life 🤣
#crypto #CryptoHumor $SOL $BTC

😱 Binance ex-CEO CZ Reportedly Owns 64% of BNB Supply

Former Binance CEO Changpeng Zhao (CZ) reportedly owns 64% of Binance Coin's (BNB) circulating supply, equating to about 94 million BNB tokens, as revealed by a Forbes report based on forensic analysis by Gray Wolf Analytics. The analysis showed that Binance and CZ together hold 71% of the 147 million BNB in circulation, with CZ's 90% equity stake.

CZ's net worth is estimated to be $61 billion, making him the 24th richest person globally. In 2023, the US Department of Justice indicted Zhao and Binance for sanctions violations and money laundering, leading to Zhao's guilty plea, a $50 million fine, and his resignation as CEO. Zhao was sentenced to four months in prison, with Richard Teng succeeding him as CEO.

$BNB #Binance

😱 Curve Finance Founder Liquidated for $140M in CRV

Curve Finance founder Michael Egorov got liquidated of his onchain loan positions after a decline in CurveDAO's (CRV) token, which he used as collateral.

Egorov was liquidated for $140 million in CRV, as he had borrowed $100 million of stablecoins from Inverse, UwU Lend, Fraxlend, and Curve's LlamaLend.

CRV's price fell 30%, trading below $0.25, more than Arkham Intelligence's warning that a 10% drop in CRV's value would trigger Egorov's liquidation.
$CRV

Trump Wants All Remaining Bitcoin To Be Mined in the US

Former US President Donald Trump expressed support for Bitcoin mining during a meeting with Bitcoin miners at Mar-a-Lago, citing their contribution to energy grid stability. Trump, who has adopted a pro-crypto stance for the upcoming November election, pledged to advocate for Bitcoin mining if re-elected. The meeting included representatives from Bitcoin mining firms CleanSpark Inc. and Riot Platforms.

Trump’s embrace of cryptocurrency has garnered support from industry leaders, exemplified by a recent $12 million fundraising event attended by notable figures like the Winklevoss twins. Additionally, Trump announced he will accept political donations in cryptocurrencies. In contrast, President Joe Biden's re-election campaign has started engaging with the crypto industry for policy guidance.
$BTC #trump

MetaMask Launches Pooled Staking for Ethereum Users

MetaMask developer Consensys has introduced pooled staking for its Web3 wallet, allowing users to stake any amount of ether to support Ethereum network security and earn validator rewards, overcoming the previous 32 ETH minimum requirement. Users can unstake their ether, though the process may be subject to variable waiting times due to the Ethereum validator exit queue.

The pooled staking service is being phased in, initially unavailable to US or UK users, and will leverage the Ethereum liquid staking derivative StakeWise for its smart contracts. Consensys aims to democratize staking and increase Ethereum network security by making it accessible to more MetaMask users, as 27.1% of ether supply is already staked, primarily in large pools.

$ETH #staking

👍 Solana Foundation Removes Validators for 'Sandwich Attacks'

The Solana Foundation has removed certain validator operators from its delegation program due to their involvement in sandwich attacks, a type of front-running exploit that manipulates transaction prices to profit at the expense of retail users. Tim Garcia made the announcement on Discord, and there will be ongoing enforcement against operators engaging in such malicious activities.

Mert Mumtaz highlighted that this move aims to ensure the foundation only delegates to ethical validators. Despite being banned from the delegation program, these operators can still participate in the Solana network, but without the foundation's support. The delegation program is designed to help validators by delegating SOL tokens, provided they adhere to good practices.
$SOL

Aptos, Arbitrum, and Others to Unlock $363M in Tokens

There will be over $363 million worth of tokens unlocked this week. Key projects include Aptos (APT) on June 12 with 11.3 million tokens, Immutable (IMX) on June 14 with 25.5 million tokens, Cyber (CYBER) on June 14 with 886,120 tokens, Starknet (STRK) on June 15 with 64 million tokens and Arbitrum (ARB) on June 16 with 92.6 million tokens. Other unlocks include dYdX (DYDX), and Render (RNDR).

Token unlocks, which release previously restricted tokens according to a project's fundraising terms, are carefully scheduled to prevent market pressure and price drops. These unlocks increase the circulating supply and can influence market behavior. Despite often being seen as bearish, strategically planned unlocks can support a project's long-term success by aligning with development milestones.

$APT $ARB $UNI #starknet #sei

Cardano Hardfork Might Come in June According to Founder

Charles Hoskinson, founder of Cardano, announced that the Cardano Node is expected to reach version 9.0 in June, marking the culmination of years of development on the Chang Hard Fork. For this to proceed, 70% of the protocol's Stake Pool Operators must install the new node, enabling the transition to the "Age of Voltaire," which promises enhanced decentralized governance.

Despite criticisms of centralization, Cardano aims to establish the most advanced blockchain governance system, complete with annual budgets, a treasury, and community guidance. This significant milestone could potentially drive the ADA price higher, as investors may respond positively to the improved governance structure. The hard fork could attract renewed interest and investment in Cardano.
#cardano #hardfork $ADA

🔥 Arbitrum DAO Approves $215 Million Gaming Ecosystem Fund

The Arbitrum Foundation will distribute 225 million ARB tokens, worth approximately $215 million, over three years to support gaming projects on its Ethereum L2 network through the newly established Gaming Catalyst Program (GCP). The proposal, first introduced in March and passed with over 75% approval, aims to increase the adoption of Arbitrum among game developers and players.

Supporters include L2Beat and Treasure DAO, while Blockworks Research and Camelot DAO oppose it. Funds will be mainly allocated to publishers and developers, with grants up to 500k ARB for new developers and equity-based investments for established ones. Bounties and operational expenses will also be funded, with operations managed by a GCP team under a council's oversight.
$ARB #arbitrum

😱 Robinhood To Acquire Bitstamp Exchange For $200 Million

Robinhood Markets has agreed to purchase Bitstamp, the longest-standing cryptocurrency exchange, for approximately $200 million in cash, marking its largest acquisition to date and enhancing its expansion into digital assets. This move positions Robinhood, whose shares rose by 3.4% pre-market, to compete with major players like Binance and Coinbase, and has caught everyone by surprise.

Bitstamp, established in 2011 with 50 global licenses, offers a core spot exchange with over 85 tradable assets, primarily in Europe and Asia, and is expected to bolster Robinhood Crypto's growth. Johann Kerbrat, VP of Robinhood Crypto, emphasized the acquisition's role in accelerating global expansion, particularly in the EU. Despite rapid growth in its crypto business.

#exchange #binance

US Bitcoin ETFs Saw Second Best Inflows Day at $887 Million

United States-based spot Bitcoin ETFs saw their second-best day for joint net inflows with $886.6 million, led by the Fidelity Wise Origin Bitcoin Fund (FBTC) with $378.7 million, BlackRock’s iShares Bitcoin Trust (IBIT) with $274.4 million, and the ARK 21Shares Bitcoin ETF (ARKB) with $138.7 million. This influx is the highest since March 12, when net inflows hit a record $1.04 billion.

Two days after the previous record Bitcoin reached an all-time of $73,750. Additionally, the Grayscale Bitcoin Trust (GBTC) saw a rare inflow of $28.2 million, despite significant past outflows due to high management fees and narrowed discounts. ETF Store president Nate Geraci highlighted the unexpectedly strong demand for Bitcoin ETFs, countering critics who doubted their appeal.

$BTC #etf #ETFvsBTC