Continuation of the detailed explanation for the previous post. First, when you see that new unknown cryptocurrencies have been added to your wallet, the goal is to hack your wallet. But how? This happens when you attempt to exchange those fake currencies for other currencies like USDT or any other currency. In the contract for those currencies, there is a virus designed to transfer all the cryptocurrencies in the wallet to the hacker's wallet. This occurs when you agree to the terms of the contract when you want to swap the fake currencies. Immediately upon agreement, all of your cryptocurrencies are transferred, and this is a very old trick. The first person to execute it was an Indian whose information I do not possess, but this service was successful at that time, and it led to the control and theft of thousands of wallets.
NABIL GLL
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I want to clarify some matters for beginners in the field. If you have a web3 wallet, especially if you are using it and have put your money in it, you may suddenly find strange cryptocurrencies in your wallet with high prices or a lot of cryptocurrencies. I advise you immediately to transfer your own cryptocurrencies to another new wallet or to a cryptocurrency exchange like #OKX. or #Binance , and never touch those cryptocurrencies. To know the reason, I will post another message.
I want to clarify some matters for beginners in the field. If you have a web3 wallet, especially if you are using it and have put your money in it, you may suddenly find strange cryptocurrencies in your wallet with high prices or a lot of cryptocurrencies. I advise you immediately to transfer your own cryptocurrencies to another new wallet or to a cryptocurrency exchange like #OKX. or #Binance , and never touch those cryptocurrencies. To know the reason, I will post another message.
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#BinanceTurns8 Join us in the #BinanceTurns8 celebration and win a share of up to 888,888$ BNB! https://www.binance.com/activity/binance-turns-8?ref=GRO_19600_9ELNJ
It is necessary to know the rules of trading, otherwise you are at risk of losing all your capital. Here is a set of rules that I consider necessary:
1- The first advice is to invest a little in yourself and learn new skills from trading experts, especially from people who work with specialized platforms or sites known for their credibility, so that even if you pay some money, they will return to you with trading skills and strategies that are useful to you.
2- Do not chase green candles and do not buy after currencies rise suddenly. Green candles are selling areas and red candles are buying areas. Know that buying is at the bottoms and selling at the peaks. It is good to enter after the correction and at a support point and if there is a clear accumulation. It is better and safer.
3- Rely on fundamental analysis in your analyses, as it is the primary driver of the market, while technical analysis is subordinate to fundamental analysis.
4- Avoid storing cryptocurrencies in digital currency trading platforms: The general rule is to store in wallets and trade in exchanges
5- Do not put all your eggs in one basket. Your emotions and enthusiasm for a cryptocurrency should in no way lead you to bet on one currency. It is always better to invest in several digital currencies. Distributing assets over several places protects against a major loss in the event of a decline in the currency. One of the most important points of risk management is the rule of not putting all your eggs in one basket.
6-Do not enter against the general direction of the trend. Do not enter against the trend, regardless of the temptations, and do not go against the general trend. If the price is in a downward channel, it does not make sense to enter by buying. We look at the price channel on today's chart and then four hours.
7- You should not risk more than you can bear to lose, as it is unreasonable to trade and trade in the digital currency market, which is known for its major collapses and fluctuations that afflict large capitals, as it is a high-risk market with high fluctuations. Always keep a portion of your money in the wallet frozen in fixed currencies such as USDT.
8- Do not enter into deals in random currencies or trade in bad platforms. Perhaps your financial management was correct and your analysis of the currency was good, but the failure of the currency due to the lack of any project for it or the lack of sufficient volume will lead you to a loss as a result of the death of the currency and its deletion from trading platforms.
9- Do you have a strategy for trading cryptocurrencies? If you do not have a specific strategy for trading digital currencies, you will continue to flounder. Set a trading strategy for yourself and respect it.
Shiba Inu (SHIB) fans and investors have long awaited the asset to delete a few zeros from its price and breach the $1 mark. However, the popular memecoin has been on a downward trajectory after reaching its all-time high of $0.00008616 in October 2021. SHIB is currently down by over 89% from its 2021 highs.
Despite the lackluster performance in 2022 and 2023, SHIB fans continue to support the asset. The loyal community is one of SHIB’s greatest strengths. A robust community is a positive sign for a project’s future growth.
How can Shiba Inu (SHIB) reach $1?
SHIB’s massive supply is one of the most significant barriers to its price reaching $1. The project currently has a circulating supply of around 589 trillion. If the asset reaches $1, the project’s market cap will hit $589 trillion, a very unrealistic figure. For context, Apple and Microsoft, two of the biggest companies in the world, have a shared market cap of around $5.7 trillion. If SHIB reaches $1 with its current supply, it will be 100 times bigger than Apple and Microsoft combined.
Therefore, Shiba Inu’s (SHIB) supply has to significantly reduce for its price to hit the $1 mark. The project has to burn 99.999% of its supply for SHIB’s price to reach $1.
The Shiba Inu (SHIB) team revealed that the Shibarium network will automate burns from January 2024. Moreover, the team is working on a new burn mechanism, rumored to incinerate trillions of tokens yearly. However, even if the new burn mechanism destroys 1 trillion tokens monthly, it would take the project a long time to remove 99.999% of its supply. SHIB has to undertake a burn similar to Vitalik Buterin’s 2021 SHIB burn. Buterin received half of SHIB’s supply when the token launched in 2020. However, Buterin decided to burn 90% of the tokens he received. Buterin’s decision significantly helped SHIB’s 2021 epic rally. #ShibaPriceAnalysys #dyor
Resolving Major Issues With Web3 Gaming; Reason for XAI Price Pump
The price of XAI coin has increased significantly today — by 58.04% — and is currently trading at $0.9142 as of this writing. This most recent pump follows a number of encouraging project advancements. With XAI’s introduction on the Binance exchange earlier this week, a larger crypto audience became interested. To increase the excitement and demand for the project, Binance also provided node sale chances and an airdrop of XAI tokens to a limited number of users. According to crypto researcher murtaza’s new X article, however, the real value of XAI lies beyond the short-term hoopla. As he clarifies: “The whole hype was around the nodes and tokens but that’s not the beauty of $XAI. In this tweet, I plan to cover why they are going to lead blockchain gaming in this cycle — BY FAR.” He continues by outlining XAI’s goals to transform the blockchain gaming industry by resolving problems such exorbitant fees, unstable networks, and intricate gaming and economic frameworks. As a pioneer in this new market, XAI is focusing on scalability, user experience, and mainstream adoption through the development of a blockchain specifically designed for the gaming industry. The next metrics for XAI are as follows:
XAI’s allure extends beyond the transient excitement surrounding airdrops and node purchases. Fundamentally, XAI aims to tackle some of the major obstacles impeding blockchain-based gaming. Blockchain games feel more like elaborate financial schemes than enjoyable entertainment because to issues including unstable networks, expensive gas fees, and complicated wallet settings that have hindered uptake. XAI provides a specific scaling solution to meet the demands of the gaming industry, aiming to reduce expenses, stabilize infrastructure, and streamline gameplay. Additionally, XAI hopes to return the emphasis from monetary potential to innovation and user experience through collaborations with Ex Populus’ seasoned gaming experts. This includes simplifying procedures that appear to put profit ahead of fun. In the end, XAI presents itself as an ecosystem specifically designed for this new phase of web3 gaming. In terms of actual acceptance and the advancement of blockchain gaming in general, XAI may set the standard by addressing issues head-on and prioritizing accessibility for the general public. It has the potential to grow tremendously in the gaming and metaverse space because to its technology and vision. Investors are paying attention to ecosystems such as XAI that provide practical solutions, as gaming and metaverse projects continue to gain traction. With solid foundations and a well-defined plan for improving blockchain gaming, XAI appears well-positioned for sustained expansion. The project’s tech and mission are what make it an appealing investment, even though its exchange listing and recent buzz have added even more impetus. This explains the 58.04% increase in XAI’s pricing today. Momentum and favorable opinion surrounding this altcoin are still growing as a result of its Binance debut, token distribution activities, and long-term gaming blockchain potential. XAI does seem to be in a position to dominate the industry and influence the direction of blockchain gaming, as predicted by murtaza. SOURCE:https://medium.com/@therealcryptojk/resolving-major-issues-with-web3-gaming-reason-for-xai-price-pump-aeeeb44d7955
Ethereum Name Service (ENS) is enjoying bullish momentum in 2024 thus far, gaining 96% over the past week, per CoinGecko data.
The surge comes after ENS experienced a massive drawdown in 2023 due to the longstanding crypto winter and regulatory uncertainties.
In June, ENS witnessed a bloodbath triggered by regulatory actions against leading exchanges, hitting a five-year low of $6.69. ENS started sliding from its all-time high of $83.40 on Nov. 11, 2021, ending with a cycle low. The bear market continued till 2023.
At the time of writing, ENS is exchanging hands for $24.8, representing a 96 % increase in the past seven days. With a circulating supply of 31 million ENS, the project’s market cap stands at $761 million.
This resurgence indicates a positive trend for ENS, emphasizing its resilience in the ever-evolving crypto landscape.
For the uninitiated, Ethereum Name Service (ENS) is a decentralized naming system on the Ethereum blockchain It allows users to acquire human-readable names like “bob.eth” and link them to identifiers such as addresses, content hashes, and metadata. Unlike traditional DNS, ENS domains are governed by smart contracts and a DAO, reflecting a departure from centralized authority.
Vitalik Buterin, the Ethereum co-founder, has emphasized the significance of layer-2 blockchains incorporating ENS domains.
His call for trustless, Merkle-proof-based CCIP resolvers aims to enable ENS subdomains to register, update, and be readable directly on layer-2 solutions. This move aligns to make ENS more affordable and underscores its importance in the evolving crypto ecosystem.
It will be recalled that the recent Spot Bitcoin ETF approval triggered a 55% price increase for ENS token last week, with Ethereum (ETH) breaking above $2,400 on January 10.
Buterin advocates for the adoption of ENS domains in decentralized finance. His vision is rooted in enhancing user experiences across various layer-2 solutions by integrating ENS domains. This aligns with the broader industry trend of seeking faster and more cost-effective transactions.
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ENS enables users to purchase domain names on the Ethereum blockchain, offering a more user-friendly alternative to alphanumeric wallet addresses.
ENS has made its unique niche with 2.1 million registered domains and 800,00 participants where efficient fund transfers are enabled.
Despite the recent approvals of bitcoin spot ETFs, SEC Chair Gary Gensler expressed wariness towards an Ethereum ETF. When mentioning Bitcoin’s status as a non-security commodity token, Gensler did not give any hint about the classification of Ethereum.
Read more: BlackRock’s Larry Fink points to value in Ethereum ETFs, crypto asset class