$OM collapsed by 90% in one hour with $5.5 billion in value evaporated. Here’s how and why this could happen:#
It all started yesterday when a possible member of the $OM team deposited 3.9 million OM tokens on OKX. It was well known in the crypto space that the OM team holds nearly 90% of the total supply. Over the past year, they used market manipulation (MM) to inflate the price of their token. Not only that, but they also modified their tokenomics and even delayed the community airdrop.
After the deposit on OKX, the selling started to happen today. But why a 90% crash?
This was due to OTC (Over-The-Counter) transactions. It was reported that OM made several OTC transactions at a discount of 50% or more. Once the price fell by 50%, all OTC whale holdings went into loss. This triggered a panic sell-off as everyone tried to get out first. This situation caused a cascade of liquidations and a massive sell-off.
That’s why I always say to do your own research before investing.
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$BETA remains steady despite Bitcoin’s volatility, with the next key milestone set at 0.11 $ if the uptrend continues! If momentum falters, the next support level at 0.04 $ will be significant, highlighting the importance of Bitcoin’s performance for the stability of the asset. In past scenarios, we have observed a gain of 270%. #Beta
$NAKA is now supported around $0.64 and is showing a strong uptrend, predicting a bright future! If Bitcoin maintains its bullish attitude and the web3 gaming trend continues, the next target could be $1.82, which is heavily influenced by the success of $ZK . Keep an eye on this asset! So far, we have tracked 12x gains on this one. #IntroToCopytrading #MarketDownturn #BinanceTurns7
Base’s plan to introduce proof of failure this month aims to achieve decentralization According to The Block, the Base team announced that it will implement permissionless proof of failure on October 30, in order to decentralize the network and eliminate single-entity control. Base is an Ethereum second-layer platform incubated by Coinbase, which will implement permissionless proof of failure on October 30, aiming to decentralize the network and eliminate single-entity control. “Proof of failure will launch on October 30 on the Base mainnet, marking a key milestone on the path to decentralization,” Base said. Base was launched in August 2023, built on Optimism’s OP Stack software, and is now the second-layer platform with the largest total value locked on Ethereum. The introduction of proof of failure on Base is inspired by a similar deployment on Optimism’s OP Mainnet. Both chains are part of the Superchain ecosystem, which also includes other projects such as Zora, Mode, and Fraxtal. Base highlights its collaboration with Optimism, making the Proof of Failure upgrade possible. Proof of Failure, as a mechanism of Ethereum’s second-layer network, allows users to dispute potential fraud or erroneous transactions.
Before this upgrade, only a centralized proposer could submit output roots regarding the state of the Base network. This required users to trust operators to accurately report the state root to the main network. With Proof of Failure, any participant can claim a specific state of Base and dispute invalid withdrawals, thus strengthening the security of the network.
The credibility of an airdrop, which is a free distribution of cryptocurrency tokens or coins, can be assessed based on several factors: 1. **Reputation of the development team**: If the team has a good reputation in the cryptocurrency community, has already successfully completed similar projects and is transparent about its members, this can strengthen the credibility of the airdrop. 2. **Clear goal of the project**: A project with a clear goal, a detailed action plan and a realistic roadmap is often more credible. 3. **Active community**: An active and engaged community around the project can also be a sign of credibility. This can be verified through social media, discussion forums and other communication platforms. 4. **Partnerships and endorsements**: If the project has partnerships with reputable companies or is backed by well-known investors, this can strengthen its credibility. 5. **Transparency**: Transparency in operations, token distribution, finances, and other aspects of the project is crucial to building trust. 6. **Third-Party Verification**: Third-party security audits, reviews, and other forms of independent verification can also contribute to the credibility of an airdrop.
The credibility of an airdrop, which is a free distribution of cryptocurrency tokens or coins, can be assessed based on several factors:
1. **Reputation of the development team**: If the team has a good reputation in the cryptocurrency community, has completed similar projects before, and is transparent about its members, this can strengthen the credibility of the airdrop.
2. **Clear project objective**: A project with a clear objective, a detailed action plan and a realistic roadmap is often more credible.
3. **Active community**: An active and engaged community around the project can also be a sign of credibility. This can be verified through social networks, chat rooms and other communication platforms.
4. **Partnerships and support**: If the project has partnerships with reputable companies or is supported by known investors, this can strengthen its credibility.
5. **Transparency**: Transparency in operations, token distribution, finances, and other aspects of the project is crucial to building trust.
6. **Third-party verification**: Third-party security audits, reviews, and other forms of independent verification can also contribute to the credibility of an airdrop.
YOU HAVE A SURPRISE it's now or never $PDA token has changed its name and the modified graphic has been removed since Upbit announced its#PDAdelisting. Today is also the day to stop trading on Upbit. If the PDA scenario moves sideways and accumulates in this zone of $0.09 $ to $0.12, it is likely that the sharks will collect goods and wait for the next opportunity to push the price higher. Note: This is just a personal opinion and not investment advice. #Binance #coffi
vigilance with cryptocurrencies under surveillance
A delisting announcement can have a significant impact on the price and liquidity of a cryptocurrency under regulatory oversight. Investors may lose confidence in the cryptocurrency and sell heavily, which can cause the price to drop significantly.
It is therefore important to be very careful and active before trading or investing in any cryptocurrency under regulatory oversight. Here are some additional steps you can take to reduce risk:
1. Evaluate the cryptocurrency's potential: Before investing in a cryptocurrency under regulatory oversight, evaluate its long-term potential. Research the fundamentals of the cryptocurrency, such as its underlying technology, development team, roadmap, and market adoption.
2. Diversify your portfolio: Don't put all your eggs in one basket. Diversify your portfolio by investing in multiple cryptocurrencies to reduce risk.
3. Use stop-loss orders: Stop-loss orders can help you limit your losses by automatically selling your positions if the cryptocurrency price reaches a certain level.
4. Be prepared to exit the market: If a negative regulatory announcement is made, be prepared to exit the market quickly to minimize your losses.
Ultimately, it is important to do thorough research and make informed decisions when trading and investing in cryptocurrencies under regulatory oversight.