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Vitalik Buterin proposes replacing Ethereum's EVM with RISC-V!
The co-founder of Ethereum, Vitalik Buterin, proposed a radical overhaul of the system that powers the network's smart contracts, suggesting replacing the Ethereum Virtual Machine (EVM) with the open-source RISC-V architecture.
The EVM has been fundamental to Ethereum's success, enabling interoperability with other chains and facilitating developer migration. However, Buterin argues that adopting RISC-V would significantly improve the efficiency of Ethereum's execution layer, addressing scalability bottlenecks and simplifying this layer of the network.
According to Buterin, RISC-V could offer efficiency improvements of over 100 times for certain applications, potentially reducing network costs, a barrier to its adoption. A key advantage of RISC-V is its native compatibility with certain types of encryption, which could simplify the implementation of zero-knowledge cryptography compared to current plans.
This proposal is considered a long-term project, similar to the Beam Chain initiative to renew Ethereum's consensus layer.
Buterin's suggestion comes at a time of reflection for the Ethereum community, with a recent decline in transaction volume and ETH token performance below the overall market.
Additionally, the Ethereum Foundation underwent a leadership transition to address concerns about the lack of a clear roadmap and the potential loss of leadership to competitors.
Ripple's RLUSD stablecoin launches in Aave V3 Ethereum market
Aave, a decentralized lending platform, has announced the integration of Ripple's RLUSD stablecoin into its V3 $ETH Core market.
This new addition allows Aave users to both supply and borrow the stablecoin, although with initial supply limits of 50 million RLUSD and a borrowing limit of 5 million RLUSD.
RLUSD is a stablecoin that maintains a 1:1 peg with the US dollar and is available on the XRP Ledger and Ethereum blockchains. Ripple assures that each RLUSD token is fully backed by deposits in US dollars, short-term US Treasury bonds, and cash equivalents, thus guaranteeing its fiat value.
A distinctive feature of RLUSD that makes it attractive to institutional users is its security, reinforced by a recent modification in the XRP Ledger that implemented a "recovery" function. This function allows the issuer, under certain predefined conditions, to recover RLUSD tokens from users' wallets, adding an additional layer of control and security.
The introduction of RLUSD is considered a potential disruptor in the stablecoin market, where Tether's USDT and Circle's USDC currently dominate. Some industry leaders anticipate that RLUSD could intensify competition among major stablecoins and, furthermore, increase the attractiveness of XRP, the native cryptocurrency of the XRP Ledger, among investors by being closely related to this new product from Ripple.
A new and high-risk scam method is circulating in Binance P2P. Pay attention to how it operates:
The scammer simulates a purchase of USDT and makes an initial payment.
Upon seeing the reflected bank transfer, you proceed to release the digital assets. Later, the scammer reverses the transaction directly with their bank.
What’s the consequence? You lose your cryptocurrencies, and the money paid is recovered by the fraudster.
This type of fraud primarily targets beginner users with little experience on the platform.
To safeguard your funds, consider these recommendations:
Only trade with buyers who have passed the verification process of Binance. Do not trust text messages or screenshots as payment confirmation; always check the status of your account through the official app or your bank's website.
Beware of excessively attractive offers or anyone trying to pressure you to complete the transaction quickly.
Never share private information or bank details outside of the Binance P2P chat system.
If you notice any signs of suspicious activity, use the "Appeal" function and do not release the cryptocurrencies until the situation has been properly investigated and resolved.
A moment of carelessness could result in the total loss of your assets.
Stay vigilant, act cautiously, conduct your operations securely, and share this warning to protect other users.
The SEC working group met with firms supporting $TRUMP to discuss cryptocurrency regulation!
The cryptocurrency working group of the United States Securities and Exchange Commission (SEC), led by Hester Peirce, continues its outreach to the digital asset industry under the new SEC chairmanship, now held by Paul Atkins.
In a recent notice, the SEC disclosed a meeting with representatives from Ondo Finance, a cryptocurrency firm, and the law firm Davis Polk and Wardwell.
The purpose of the meeting was to discuss crucial issues such as the issuance and sale of tokenized versions of U.S. securities, compliance with financial laws, and the possible implementation of a regulatory sandbox for these digital assets.
It is noteworthy that Ondo Finance made a donation of one million dollars to Donald Trump's inauguration fund, and Davis Polk and Wardwell announced its representation of Truth Social.
This meeting adds to the SEC's efforts to engage with the cryptocurrency industry following the departure of Gary Gensler. Additionally, the working group has scheduled a roundtable event to discuss aspects related to the custody of digital assets, with participation from representatives of major companies such as Kraken, Anchorage Digital Bank, and WisdomTree.
This approach comes amid growing demand for custody services in the United States following the approval of cryptocurrency exchange-traded funds in 2024. While the SEC has indicated that it will continue to pursue fraud cases in the crypto space, it has also halted certain investigations and lawsuits against companies like Ripple, Coinbase, and Kraken, all of which have ties to supporting Donald Trump's campaign or inauguration fund.
The specific direction the SEC will take regarding regulatory compliance under the new Atkins administration is still not completely clear.
Fundraising in cryptocurrencies is positive, but slower under the Trump administration! $TRUMP
A recent report from Crypto Insight Group reveals that fundraising for cryptocurrency investment vehicles has not met the optimistic expectations generated by Donald Trump's presidency. Although the momentum remains positive, the pace of net inflows is slower than anticipated, as investors adjust their risk budgets. The pro-crypto stance of the Trump administration had fueled hopes for greater regulatory clarity in the U.S., but the implementation of a clear regulatory framework may take longer than expected.
Market volatility, exacerbated by Trump’s tariff plans, has negatively impacted cryptocurrencies, with Bitcoin dropping to six-month lows. This inconsistency in Trump's policy has raised concerns among investors, who fear a return to protectionism. However, the overall sentiment among fund managers towards the Trump administration remains constructive, with expectations of positive policy decisions in the next 12 months.
Managers expect advances such as clearer token classifications, legislation on stablecoins, and spot market products. Trump's recent geopolitical maneuvers, aimed at boosting the technological competitiveness of the U.S., could accelerate institutional adoption of cryptocurrencies. There is a divide among managers regarding the impact of these measures on institutional adoption, with mixed opinions on whether they will delay or accelerate adoption.
SoftBank is buying Bitcoin again after losing 130 million dollars in 2018!
The Japanese investment giant SoftBank is making a new foray into the cryptocurrency market by backing a new investment vehicle in $BTC called Twenty One Capital, in collaboration with major players like Tether, Bitfinex, and Cantor Fitzgerald. This move has been interpreted by some as a positive sign of the growing institutional adoption of Bitcoin, given the magnitude of the assets managed by SoftBank, even comparing it to a Japanese sovereign fund.
However, for seasoned observers, this news evokes a déjà-vu, recalling SoftBank's past experience in the crypto space. In 2019, it was reported that SoftBank founder Masayoshi Son suffered a significant loss of $130 million from a personal investment in Bitcoin. Son had entered the cryptocurrency market in late 2017, just at the peak of ICOs and when Bitcoin reached its historical high of nearly $20,000. Although Bitcoin is now trading around $93,000, which would have meant substantial gains had he held onto his investment, Son sold in early 2018, just as the price began to decline.
The question that arises now is whether this new foray by SoftBank will have a different outcome. Some analysts have pointed out a troubling pattern when observing the recent performance of Oracle (ORCL) shares after SoftBank's participation in a $100 billion AI infrastructure initiative was announced. Despite this collaboration with OpenAI and Oracle seeming positive for Oracle’s shares, since the announcement, the stock has experienced a 28% drop, surpassing the 12% decline of the Nasdaq during the same period.
Traders are betting heavily on $110,000 for June as dominance of $BTC grows amid trading turbulence!
Despite a widespread price drop in the cryptocurrency market, Bitcoin's dominance $BTC is on the rise. This liquidation is occurring amid profit-taking and mixed messages from the Trump administration regarding the trade war with China, creating uncertainty among investors.
While the CoinDesk 20 index fell more than Bitcoin, institutional traders show a clear preference for BTC, evidenced by the high premium in Binance futures tracking its dominance. The options market also reflects short-term optimism for Bitcoin, with significant bets that it will reach $110,000 in June, although with long-term caution. Long-term cryptocurrency holders seem unfazed and continue to accumulate. Political uncertainty in Washington has also affected other safe-haven assets like gold.
The senator and former CEO of Bridgewater invests more in Bitcoin as the bill is prepared!
U.S. Senator Dave McCormick, a former hedge fund executive, is the largest investor in $BTC in Congress, with recent investments in the Bitwise Bitcoin ETF ranging from $310,000 to $700,000. His total investment in $BTC could approach a million dollars.
McCormick is part of a Senate subcommittee that deals with the regulation of digital assets, raising interest in his stance on cryptocurrency legislation. Despite his significant investment in Bitcoin, most of his recent investments have been directed towards municipal securities.
THE TRUMP COIN RISES 70% AT THE PRESIDENTIAL DINNER FOR THE TOP TOKEN HOLDERS!
The coin #TRUMP rose 70% in response to an invitation to a dinner with Donald Trump for the top 220 token holders, pushing its price above $16, its highest level since March.
This increase occurred after $300 million in tokens were unlocked last week, increasing the total supply.
Although the token was launched just before Trump’s inauguration in January and generated a lot of controversy for capitalizing on his public office, its price is still more than 80% below its all-time high of $73.
Despite the recent surge, the coin remains highly volatile and subject to market speculation.
BITCOIN HAS BECOME THE 8TH LARGEST ASSET IN THE WORLD!
In terms of market capitalization, it reached 1.86 trillion dollars, surpassing Google in value.
Although at its peak it exceeded 2 trillion dollars, its current price is over 93,000 dollars, which also puts it in positive territory for the year.
This growth has been driven by renewed optimism in the markets, especially following the easing of tensions in the trade war between the U.S. and China, which has benefited both Bitcoin and tech stocks, with the Nasdaq rising by 2%.
Additionally, Bitcoin has surpassed important resistance levels and has set a new record in relation to the Nasdaq, showing a significant breakout across various asset classes.
If you’re a beginner and you’re looking to start your journey In the crypto space, here are 7 strategies that can potentially help you make profits .
1. DAY TRADING: Buying and selling cryptocurrencies on short timeframes (intraday) to profit from short-term price movements. This requires technical analysis and quick decision-making.
2. SWING TRADING: This involves holding a cryptocurrency for several days or weeks to capture price swings. This method involves identifying entry and exit points based on market trends.
3. ARBITRAGE: Buying a cryptocurrency on one exchange where it's priced lower and selling it on another exchange where the price is higher. This takes advantage of price discrepancies across different exchanges.
4. HODLing: This is the traditional Long-term investment strategy where you buy and hold cryptocurrencies for months or years, expecting their value to increase significantly over time.
5. STAKING: Holding a cryptocurrency in a specific wallet to support the blockchain network (proof of stake) and earn rewards, usually in the form of more crypto.
6. YIELD FARMING: Providing liquidity to decentralized finance (DeFi) protocols in return for interest or tokens. This is usually done by lending or borrowing assets on decentralized exchanges (DEXs).
7. ICO/IDO Investing: Participating in Initial Coin Offerings (ICO) or Initial DEX Offerings (IDO) to purchase tokens at an early stage, hoping they will appreciate in value once listed on exchanges.
Each method has its own pros and cons, so it's a good idea to start with a small investment to try out your preferred strategy and manage your risks caretully.