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Crypto Trading Bots. How Do They Work & Do They Make Profit?

Mark Brennan
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Crypto Trading Bots. How Do They Work & Do They Make Profit?

Quickly buying and selling digital assets for profit is widespread in the crypto industry. The company’s financial health might be adversely affected by even a little delay in evaluating these trade-offs. This is one of the main reasons why crypto bot is often considered. A novice trader can have difficulty using crypto trading bots. We’ve also discussed the basics of using bitcoin trading bots.

What exactly is a trading bot?

Traders may employ trading bots to place buy and sell orders on cryptocurrency exchanges on their behalf. Trades may be performed at the most lucrative periods using both productive experience and algorithmic trading concepts in this autonomous crypto-trading system. In the forex market, as a result of the regular investor’s employment of bots (FX).

How Do Crypto Trading Bots Work?

The following characteristics are seen in the majority of crypto trading bots:

  • Analyzing Market Information

One of the primary functions of this bot is to gather and analyze raw market data. The last decision is whether or not to buy or sell a certain Bitcoin holding. A large number of bots’ signal generation components may be fine-tuned for better outcomes.

  • Predictions of Market Challenges

On the other hand, this component utilizes market data to predict possible market risks. The bot will select how much money to invest or trade based on the information it receives.

  • Possession or Disposal of Assets

You may easily purchase and sell bitcoins using this bot’s API module. Is buying tokens in bulk always a good idea? When a contract must be closed straight quickly, on the other hand, things can’t wait. All of this is handled by the Execution module.

Exactly how can you get cryptocurrency bots?

There are a variety of ways to get trading bots for cryptocurrency:

Creating a new bot from scratch: This approach requires some coding knowledge. For each bot, there is a defined goal. As a consequence, the platform will need an API. Market data and tools may be utilized by traders who wish to begin trading with customized settings.

Developing a trading bot for cryptocurrencies: As a beginner, this is the finest choice. Many companies are currently producing this kind of software, as is well-known.

The opportunity to get a digital version of the crypto trading bot: The third alternative is to download bots. One of the benefits is that you don’t have to perform any work, employ any programmers, or spend any money. The income generated by bots, on either hand, can never be guaranteed to stay inside the company.

Is crypto trading bot profitable?

You might gain or lose a lot of money if you use a bitcoin trading bot. Being a successful trader needs a variety of skills, including the ability to refine one’s trading techniques and recognize when it is time to join or depart the market. Even if transactions move in the other way, no approach can guarantee that they will continue to function indefinitely.

The sector faces significant risks. A number of crypto trading bots are worried about security threats, including hacking. If you don’t take adequate security measures, hackers may get access to your crypto assets.

For active traders who have mastered the use of cryptocurrency trading bots, they may be quite lucrative. A trader’s risk of losing money increases if the deal is executed too rapidly or without proper market knowledge. Successful spread betting requires a combination of technical analysis, risk management, and market knowledge, and traders often develop their unique trading strategies.

After selecting a cryptocurrency pair, you may begin trading for an hour straight away. The stock market is a great place to earn money, but only if you put your capital into investment. Prior to engaging in real-time trading, it is critical that traders establish and meet certain goals.

Automated traders aren’t perfect, but a well-taught robot may be a boon. Robots are a great alternative for anybody that is unable to keep an eye on the market at all times. Using bitcoin trading bots in conjunction with market research and trending patterns may provide a lot of benefits to traders. Before using crypto trading bots to make money, newcomers to the crypto market need get acquainted with the technique and current market trends.

Binance Dual Investment – How To Buy Crypto Low And Sell High?

Mark Brennan
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Binance Dual Investment – How To Buy Crypto Low And Sell High?

We’ve all heard the old rule about buying low and selling high, but the truth is, it’s easier to say than to do. Fortunately, there are some tools that can help you. One of them is the Dual Investment feature from Binance and that is what we will focus on in this article. We’ll explain to you exactly what it is, what it does, how to use it and much more. So, here we go!

What is Binance Dual Investment?

Binance Dual Investment use the same methods of calculating returns as liquidity pools and staking. However, the difference is that the returns are very high. With this feature, you can buy low or sell high at the desired price within the desired time frame.

The norm is that the annual percentage return (APY) is 50%. However, some subscriptions even offer APYs above 300%. For this reason, dual investment is high demand product.

However, it’s important that you familiarize yourself with the risks and the rules before making any investment. So let’s start with the most important terminology about Binance Dual Investment

Dual Investment on Binance: the most important terminology

Before we go any further, it’s important that you familiarize yourself with the key terminology of Binance Dual Investment.

  • Strike price: The set (target) price at which the deposit currency will be converted into an alternate currency if the settlement price is higher/lower than this price, depending on the product.
  • Settlement price: The average spot price of the last 30 minutes before 8:00 am (UTC).
  • Spot price: The current price of the currency you are depositing.
  • Base asset: The asset on which the dual investment is based. For example, if you are referring to the ETH spot price and the ETH strike price, the underlying asset is ETH.
  • Delivery date: The date on which the locked-in assets are released and interest is paid. We can call it settlement day.
  • Deposit days: The number of days remaining until the settlement date.
  • Deposit currency: The currency in which the dual investment deposit is made.
  • Alternate currency: The currency you receive instead of the deposited currency in case of product realization.
  • Cut off time – This is the time at which Binance determines whether your position has been executed on a “Buy Low” or “Sell High”.
  • Subscription amount – This is the amount of the user’s deposit that the user wishes to invest in the dual investment product.

Types of Dual Investment

Binance offers two types of dual investments. These are Up-and-Exercised and Down-and-Exercised. Both products use the same metrics but different rules.

Up-and-Exercised (Sell High)

These products allow the user to set a target price higher than the spot price. If the settlement price is above or equal to the target price on the execution date, the product will be executed.

Example:

You invested 1 BTC in an “Up-and-Exercised” product. Assume that the value of 1 BTC is $10,000 and you will receive an APY of 40% over the next 30 days. The strike price is set at $15,000.

On the day of execution, two potential scenarios will occur:

  • Scenario 1: The settlement price will reach USD 15,000. The product will be realized and you will receive 1 BTC at the current rate back in BUSD + 40% APY.
    The amount received = 15,493 BUSD.
  • Scenario 2: The settlement price is less than $15,000. The product will not be completed and you will receive 1 BTC at the deposit rate + 40% APY.
    Amount received = 1.0328767123 BTC

Down-and-Exercised (Buy Low)

These products work the opposite of Up-and-Exercised. Users can set a target price lower than the spot price, and if the execution price is lower than the strike price, the product will be executed.

Example:

You invested 100 BUSD in a Down-and-Exercised product. The value of 100 BUSD is $100, and you will receive an APY of 40% over the next 30 days. The underlying asset is BTC with a current value of $30,000 and the realization price is set at $20,000.

Two potential scenarios will occur on the settlement date:

  • Scenario 1: The settlement price reaches $20,000. The product is realized and you receive BUSD in BTC + 40% APY.
    The amount received = 0.0052 BTC.
  • Scenario 2: The settlement price is higher than $20,000. The product will not be realized and you will receive BUSD + 40% APY.
    The amount received = 104 BUSD.

Dual Investment vs Stop-Limit Order

Dual Investment: You sign up for a product that has a set APY%, strike price and settlement date. If the settlement price does not reach the strike price, the product will not be executed. In this case, the user receives his amount in the same currency in which he deposited + APY%.

If the product is executed, the user receives the amount in the alternative currency + APY%.

This rule applies to Up-and-Exercised products. For Down-and-Exercised products everything works the other way around. The amount is received in the alternative currency when the product is not executed, and in the deposited currency when the product is executed.

Stop-Limit Order: When you place a Stop-Limit order, you must specify two prices. A stop price and a limit price. The stop price activates the limit price, and coins are sold/buy when the market price reaches the limit price. Let’s explain this with a concrete example:

A user owns BTC worth $10,000. He wants to make profits by buying BTC as soon as the price starts to rise, and then selling it when the price rises significantly.

Therefore, he decided to set the strike price at $10,100 and the limit price at $10,400.

You can set both prices to the same value. However, it is better not to do so. Why? Because it may take some time to activate the stop price, and it happens that during this time the spot price may exceed the limit price. The order can be executed only at the limit price.

Therefore, it is better to set the target price slightly higher than the limit price. Then you will have a better chance of the order execution.

The Stop-Limit order can also be used to hedge losses. In this case, the user should set the target price below the limit price.

Stop-Limit Order:

  • This order may never be executed. In this case, you will not make any profit or loss.
  • The user can cancel the order, so it does not have to be a win or lose situation.
  • Profits are fixed.

Dual Investment

  • Profits are not fixed
  • Product expires at the time of execution.
  • Once subscribed, the subscription cannot be cancelled.

Dual Investment on Binance: How to use it?

To participate in Binance dual investments on your computer, simply follow the steps below:

Step 1: Log in to your Binance account. Once logged in, hover over “Earn” in the top menu and then click “Dual Investments”. Alternatively, you can also just click on this link. It will take you straight to the appropriate place.

Step 2: You will now be shown different products with different underlying assets. Choose the one that suits you best, click “Subscribe”, accept the terms and conditions and press “Subscribe” again

Step 3: Now you have to wait for your subscription to be realized.

To participate in Binance Dual Investment on your smartphone, simply follow the steps below:

Step 1: Download the Binance App from the Play Store.

Step 2: Open the app, on the homepage find the “More” button, click it and then find “Dual Investment”. Tap on it. Alternatively, you can also search for the “Earn” option, go to the “High Yield” tab and then click on “Dual Investment”.

Step 3: A huge list of products will appear on the screen. Select the underlying asset and then the product that suits you best.

Step 4: Read the product terms and conditions, accept them, and then click “Subscribe”.

Dual Investment on Binance: The Risks

Of course, with high returns, comes high risk. So let’s discuss the two risks involved in using Binance’s dual investment feature.

Lock-in: This is the main risk. The assets are locked during the subscription period. Why this is bad? Because cryptocurrencies are very volatile. You never know when the price will rise and when it will fall. If the price is high for a short period of time and you can’t sell your tokens because they’re locked, you’ll lose the opportunity to make a profit. If the token price starts to fall and you cannot sell your tokens at the right time because they are locked, you will suffer losses.

Payout at initial price: If the product fails to perform, you will lose part of your investment. Let’s assume that at the time of subscription, Bitcoin was worth $10,000. After the subscription ends, it is worth $15,000. Since the product has not been realized, you will receive bitcoin at the initial price + APY%. This means that you will not receive the $5,000 profit. For the Down-and-Exercised product, you will lose if the product is realized.

Summary

Dual investing on Binance is a great option for those who want to own their cryptocurrencies while earning passive income from them! Considering how volatile the cryptocurrency market is, this is a great option to profit from that volatility, but as we mentioned earlier, it also comes with some risks. Therefore, before you start, make sure you are aware of what you are doing!

Hackers Infiltrate Popular Web3 Lifestyle App, Stepn

Mark Brennan
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Hackers Infiltrate Popular Web3 Lifestyle App, Stepn

 

Blockchain security firm alerts crypto users about Stepn phishing sites.



Popular blockchain security firm, Peckshield, has revealed that there are now several phishing sites for the Web3 lifestyle app (Stepn). According to Peckshield, hackers insert a fake metamask browser extension through which they can steal seed phrases of unsuspecting Stepn users.

Once these hackers steal the seed phrase, they have full access to the Stepn user’s dashboard, where they can link the hacked wallets to their wallets or “claim” a giveaway.

 

Peckshield has asked Stepn users to contact support immediately if they notice anything fishy about their accounts. Some users reported that they had experienced some flaws, contacted support, and resolved the issue.

The popular China-based crypto journalist, Wu Blockchain, also tweeted about it to give the news wider publicity.

 

No news from Stepn’s Twitter channel yet

However, Stepn is yet to acknowledge the hack or release any official statement about it. The notice of the hack comes nearly 20 hours after the Web3 lifestyle app concluded its AMA Twitter spaces. Peckshield is one of the trusted Twitter channels where the crypto community gets to have first-hand information about hacks or phishing scams.

 

SEC’s Case Against XRP is a Rug Pull – Ripple’s General Counsel

Mark Brennan
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SEC’s Case Against XRP is a Rug Pull – Ripple’s General Counsel

 

Ripple’s General Counsel says, ‘US citizens are the victims of a rug pull by the SEC.’



The SEC-XRP court took a new dimension at the last court hearing as both SEC and XRP reached an accord over the summary judgment. This summary judgment is now scheduled for December 20, 2022. However, many XRP investors are disappointed as they were expecting a resolution earlier than this time.

Nevertheless, one of Ripple’s general counsels, Stuart Alderoty, has made a sensational claim. Following a new date for the summary judgment, Alderoty updated the Twitter crypto ecosystem about it and added that this SEC’s case against Ripple could be likened to a rug pull against XRP holders. While he thanked the crypto community for their support and the XRP community for their continued patience, Alderoty took a jibe at SEC chief Gary Gensler. 

“To all that have been following the case thus far – thank you… It now looks like a resolution will happen in 2023, and each day that passes is hurting US citizens who were essentially the victims of a rug pull by the SEC,” Alderoty wrote on Twitter. Many XRP investors would hope that Alderoty is right and the case would be genuinely over in 2023.

 

He accused Gensler of stifling the crypto space and forcing many blockchain-related tech firms to move their businesses to crypto-friendly climes. He added that the SEC keeps claiming that almost all tokens are securities. Yet, when they ask them to list such tokens, they always have no list, proving that they were only making claims without having any proof to support their claims.

 Alderoty also said the SEC’s lack of proof against tokens being securities or oversight functions over the crypto industry (now valued as a $2 trillion industry) is why they can’t shut down on crypto exchange. Hence, they are always using any means to confuse market players. Alderoty further explained that Ripple agreed to the December 20 briefing date to prevent the SEC from additionally having any grounds to prolong the case.

SEC is making efforts to make extend the Ripple case to next year – Alderoty

Over the weekend, Alderoty stated that the SEC is attempting various delay tactics to ensure its legal battle with Ripple continues until next year. The prolonged SEC-Ripple court battle has negatively impacted the value of XRP (Ripple’s governance token) since the case began nearly two years ago. Many crypto exchanges quickly delisted XRP tokens from their trading platforms immediately SEC filed the lawsuit.

Crypto Talent Going Outside US

Stuart Alderoty said that much of the crypto talent and wealth is fleeing the US due to these uncertainties.

“Already, we’re seeing a massive transfer of crypto talent, tech, and wealth moving offshore to jurisdictions with rational regulatory frameworks. Entrepreneurs are being advised not to start their projects in the US.?”

 

 

Cardano Founder Charles Hoskinson Reacts As Twitter Board Seriously Consider Elon Musk’s $43B Bid

Albert Brown
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Cardano Founder Charles Hoskinson Reacts As Twitter Board Seriously Consider Elon Musk’s $43B Bid

Twitter’s board is being pressured by shareholders to accept Elon Musk’s bid.


Despite speculation that the Twitter board will outrightly dismiss Elon Musk’s Twitter bid, recent reports suggest that the firm is seriously considering selling a 100% stake of the microblogging platform to the Tesla CEO and founder.

According to a Wall Street Journal (WSJ) report today, the Twitter board has opened talks with itself and is considering the pros and cons of selling the microblogging platform to Musk.

The report noted that the board started considering the deal after the Tesla boss wooed shareholders of the company last week, with financing details of his $43 billion bid.

Following his explanation of the financing details of his bid to shareholders, calls have been made to the company’s board, as it has been urged not to let the opportunity slip.

The WSJ noted in its report that the board is seriously considering Musk’s offer and could give its response before the end of this week.

No Decision Has Been Taken

It is worth noting that the fact that the Twitter board has opened talks with its members about the bid does not imply that the microblogging platform will be sold to Musk.

The company is only analyzing whether it would sell the company to Musk based on the $43 billion bid made by the Tesla exec.

Recall that during the announcement of Musk’s Twitter bid, the Tesla CEO proposed an offer of $54.20 per share bid as his best and final offer.

Musk’s insistence that he is willing to pay a $54.20 per share bid is one of the hurdles in the deal negotiation, as the board would most likely want the Tesla boss to increase his offer.

Aside from considering Musk’s bid, the board is also considering whether Musk is under any investigation that could potentially put the deal at risk.

Cardano Boss Reacts

Meanwhile, moments after reports emerged that the Twitter board is considering Musk’s offer, Charles Hoskinson, the CEO of Input-Output Global (IOG), the firm in charge of conducting research and development for Cardano (ADA), reacted to the news.

Hoskinson, who earlier suggested that he would like to collaborate with Musk to develop a decentralized social media platform, shared a gif on Twitter, indicating that he is enjoying the moment and truly comfortable about the development.

 

One of the reasons Musk is poised to buy Twitter is to promote free speech on the platform and also eliminate spam bots that have been adopted by malefactors to scam cryptocurrency investors.

Musk disclosed recently that once his bid is accepted, he will wage a war against Twitter bots and their creators, thus making the platform safe for everyone, including cryptocurrency investors.

Hoskinson believes an approval of the bid would be a win for the cryptocurrency industry, as the cases of crypto scams will be mitigated, which will help put the industry in global regulators’ good books.

Unknown Wallet Burns 1 Billion Shiba Inu In One Transaction

Zabi
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Unknown Wallet Burns 1 Billion Shiba Inu In One Transaction

 

Random Mysterious Wallet Sent 1 Billion Shiba Inu (SHIB), Worth $23,948 to the Dead Wallet through One Significant Transaction.



The newly launched “SHIB Burn Portal” is literally breaking the internet. The Shiba Inu Community is seen so much excited about the newly developed burn mechanism introduced by the SHIB team in collaboration with the amazing Ryoshi Vision team.

The excitement skyrockets when one random mysterious wallet sent 1 Billion Shiba Inu (SHIB), worth $23,948 to the dead wallet through a single significant transaction.

shib burn transaction
image source: etherscan.io

 

Looking deep into the data provided by etherscan.io, we found that the mysterious wallet still holds 1,400,001,825 (1.40B) SHIB, worth $32,424.

The much-awaited “SHIB Burn Portal” officially went live on Shibaswap.com on Saturday, April 23, 2022. The newly launched portal appears to be a BIG SUCCESS from the team as 10.9 billion Shiba Inu tokens have been taken out of circulation forever within less than 48 hours of launch.

SHIB Burn Portal encourages its users to contribute towards the burn while rewarding them with a passive income in the form of the Ryoshi Vision token, an official SHIB partner token. As of April 23, the Ryoshi Vision token reached the major milestone of 25,000 holders.

Why Shiba Inu (SHIB) Price Declines Despite Such Massive Burn?

Despite aggressive burn in play and the recent gigantic development, the Shiba Inu (SHIB) price remains on the back foot, making the Shiba Inu community curious about the fact. This is because the Shiba Inu token is still looking for demand – especially from new investors. For instance, the global crypto market cap is still well below the $2 trillion market cap, currently standing at $1.77T, showing a 4.14% decrease over the last day. This means the global market cap is still liquidated and not growing. This refers to the fact that investors have to wait patiently for the “Healthy Market” in order to see some eye-popping gains. At the time of writing, Shiba Inu’s price declined more than 7% over the last day and is trading at $0.00002257.

Dogecoin Founder Says DOGE-Ethereum Bridge Will Boost Token’s Utility, Elon Musk Reacts

Mark Brennan
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Dogecoin Founder Says DOGE-Ethereum Bridge Will Boost Token’s Utility, Elon Musk Reacts

 

A bridge between Dogecoin and Ethereum will enable DOGE to be accepted as payment for various non-fungible tokens. 



In a recently published tweet, Shibetoshi Nakamoto, the pseudonymous founder of Dogecoin, stated that creating a token bridge between DOGE and Ethereum will bolster the meme coins utility. 

According to the Dogecoin founder, the initiative would allow non-fungible token (NFT) marketplaces like OpenSea to accept the cryptocurrency as payment for different digital collectibles listed on the platform. 

Shibetoshi Nakamoto disclosed that the bridge would allow the conversion of DOGE to Wrapped Dogecoin, and vice versa, in order to use the meme coin as payment for web 3.0 assets. 

“If dogecoin (in the form of wrapped dogecoin) can be seen in a Metamask wallet, websites can be built to read your wallet, determine that you have dogecoin, and unlock specific features for dogecoin holders. Tons of possibilities,” Nakamoto added. 

 

Rising Interest in NFTs

Non-fungible tokens have attracted a lot of attention in recent times, with billions of dollars traded across various NFT marketplaces. The rising interest in NFTs has prompted the launch of more digital collectibles across diverse chains. 

While some NFTs are hosted on chains like Solana and Ripple, the most popular non-fungible tokens, including Bored Ape Yacht Club (BAYC), have been launched. 

It is worth noting that the preferred cryptocurrency payment for non-fungible tokens launched on the Ethereum network is ETH. 

However, a converter bridge between DOGE and ETH will enable the memecoin to be added as payment for digital collectibles that are based on the Ethereum network. 

Other Suggestions to Increase DOGE Utility 

Meanwhile, aside from developing a bridge between Dogecoin and Ethereum, Shibetoshi Nakamoto noted two other efforts that will increase DOGE utility. 

Getting more businesses to accept the cryptocurrency and adding the memecoin to Twitter’s tipping service will also bolster utility. 

 

Reacting to the Dogecoin pseudonymous founder’s Twitter post, Elon Musk, the founder and CEO of American electric car company Tesla said: 

“First one definitely, second is nice to have and third isn’t needed IMO.” 

 

Moves to Boost DOGE’s Utility

Shibetoshi Nakamoto has been advocating for more ways to boost the utility of the cryptocurrency, which he believes will prompt Dogecoin’s value to soar. 

Earlier this month, the Dogecoin pseudonymous founder urged the team behind the microblogging platform to add DOGE to its tipping service. 

10.9 Billion SHIB Burnt By Official Shiba Inu Burn Portal Since Launch

Lele Jima
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10.9 Billion SHIB Burnt By Official Shiba Inu Burn Portal Since Launch

Shiba Inu enthusiasts can now officially burn their SHIB cryptocurrency and earn rewards.


Shiba Inu Official Burn Portal Finally Launches, As 10.9 Billion SHIB Burnt in Two Days.

The Shiba Inu development team has finally launched the long-anticipated SHIB burn portal, to enable members of the SHIBArmy to reduce the token’s circulating supply, and ultimately boost its value.

Announcing the development in a recent Twitter post, the Shiba Inu development team said via its official Twitter channel:

“We are excited to announce the launch of the SHIB burn portal. Burn SHIB to generate passive income!”

 

SHIB Burners to be Rewarded

As part of efforts to entice Shiba Inu holders into joining the burn program, the team also disclosed that it will reward members of the SHIB community who join the program with some sort of passive income.

According to the announcement, a total of 0.49% of all Ryoshi Vision (RYOSHI) transactions will be distributed to participants of the burn program.

Furthermore, any project can use the burn smart contract to create a burn pool that will also reward SHIB burners.

It is worth noting that since the burn program was announced, over 10.9 billion SHIB have been burnt via the newly launched burn portal.

shib burned
image source: https://burn.shibaswap.com/

While the number of SHIB burnt so far via the initiative may not be as encouraging as many would expect, Queenie, a member of the Shiba Inu development team disclosed that over 100  trillion SHIB burns are achievable yearly.

Reason for SHIB Burn Portal

Explaining why it decided to launch the SHIB burn portal, the project team noted that it had received numerous calls from the community to create a “systemic method in which scarcity can increase while pushing the potential to grow the community’s wealth in their investment.”

The team added that it had decided to launch a burn initiative that would reduce the token’s total supply, thus increasing value in the near future.

Notably, the recently launched burn exercise for the Shiba Inu token will be similar to other burn programs that have gone live for the dog-themed cryptocurrency, including the burn parties held by Bigger Entertainment.

The burn portal, which was developed in collaboration with “the creators of the RYOSHI vision,” is hosted on a recently-launched domain.

Interested users can burn any amount of SHIB that they deem fit, and the token will be immediately sent to a dead wallet, which cannot be accessed or retrieved, the Shiba Inu team noted.

Solana Claims 1 Transaction Uses Almost the Same Energy As a Few Google Searches 

Lele Jima
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Solana Claims 1 Transaction Uses Almost the Same Energy As a Few Google Searches 

 

Solana says it uses lower energy in processing transactions compared to other blockchains.



Solana has evolved over time to be able to consume less energy than popular blockchain Ethereum, following widespread scrutiny of the negative impact of crypto-related transactions on the global climate. 

According to recent data published by the Solana team, a Solana transaction consumes almost the same energy as a few Google searches. 

Details of the data show that while a single Solana transaction consumes 2,707 joules of energy, a Google search uses 1,080 joules.  

“The most recent energy impact report from @SolanaFndn found that a Solana transaction uses around the same amount of energy as a few Google searches – 2,707 Joules, to be precise,” the Solana team noted. 

 

In the same vein, a single transaction on the Solana network uses lower energy than keeping an LED light bulb on for an hour and working on a PC for one hour, the data shows.  

Despite its low energy consumption, the Solana team is still advocating for improved ways to “offset the already low energy impact.” 

Last year, after the Solana Foundation funded the blockchain’s energy reduction project, the team announced it had achieved carbon neutrality for the year. 

“Our carbon neutrality initiatives, paired with Solana’s high-performance, energy-efficient design, mean the community can build a sustainable web3 future for many years to come,” Dan Albert, Executive Director of the Solana Foundation said. 

 

Whales Not Stopping, ETH Whale Scoops Up Over 86B Shib, Top 100 ETH Wallets Now Hold $1.28B Worth Of Shib

Zabi
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0
Whales Not Stopping, ETH Whale Scoops Up Over 86B Shib, Top 100 ETH Wallets Now Hold $1.28B Worth Of Shib

 

5th Biggest Ethereum (ETH) Whale Bought Over 86.67 Billion Shiba Inu (SHIB), Worth $2.11 Million within Past 24 Hours.



Top Ethereum (ETH) Whale makes a move on Shiba Inu (SHIB) and buys out $2.11 million worth of SHIB within the last 24 hours.

The most popular dog-themed cryptocurrency Shiba Inu enjoys increased attention from major ETH whales.

As per a recent report from the blockchain data-tracking website WhaleStats, the 5th biggest ETH wallet, “BlueWhale0073,” has just bought 86,679,001,529 (86.67B) SHIB tokens worth $2,111,500 ($2.11M) at the time of transaction.

The massive accumulation is the addition to the top 100 Ethereum (ETH) wallets that already hold more than $1,287,344,956 ($1.28B) in SHIB tokens.

SHIB holdings represent 13.28% of Top 100 wallets’ non-Ethereum holdings, followed by FTT, the native token of FTX crypto exchange, which means 13.20%, says WhaleStats.

The whale previously made a purchase of 50,296,290,794 (50.29B) SHIB, worth $1,269,981 ($1.26M) on Tuesday (19th April, 2022), through one significant transaction.

Moreover, SHIB also appears to be the 10th most accumulated token by the top 100 ETH whales within the last 24 hours. On average, each whale has acquired 1,093,866,660 (1.09B) SHIB, worth $26,639.

 

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