Moonhub

2023-03-01 18:41:10 In 2022, Litecoin emerged as one of the top choices for online shopping, ranking fourth among cryptocurrencies used for payments, according to a new report by CoinGate. With 88,295 orders or 9.5% of total cryptocurrency payments, LTC was behind Bitcoin, USDT, and Ethereum. The report also showed a growth of over 6% in Litecoin payments in 2022, with its highest monthly use in January. The study attributed LTC's high ranking to its network speed and low transaction fees, making it an ideal option for online shopping. Open / Comment

2023-03-01 13:54:22 Blockchain company Ripple is focusing on central bank digital currencies (CBDCs) in 2023 and is already in dialogue with over 20 central banks. While some countries like China are advanced in this area, smaller emerging markets with fewer resources are where Ripple can provide a solution. Regulatory headwinds in the U.S. have led Ripple to focus on the international market, where most of its business is currently conducted. The company is expanding its policy team and taking an aggressive approach to engaging with regulators. Ripple sees the cross-border flow of value as one of the last great unsolved financial problems, which can only be solved with a global network. Open / Comment

2023-03-01 00:08:31 Cardano's ADA has been named the most actively developed cryptocurrency by GitHub development activity tracker, ProofofGitHub. With 824 daily development activities, Cardano outpaced its rivals, including Ethereum and Polkadot. While development activity doesn't necessarily indicate a surge in prices, it adds legitimacy to projects, especially in a market where scams are common. The Cardano development community's strength and ability to maintain their pace of development could decrease the downside risks of holding ADA long-term. The network's upcoming Voltaire era, adding a voting and treasury system for self-sustaining governance, could unlock the power of Cardano's millions of users and builders. Open / Comment

2023-02-28 17:59:26 Visa and Mastercard have decided to delay their plans to establish new partnerships with digital asset firms, following the bankruptcies of FTX and BlockFi. The credit card companies had previously formed multiple partnerships with crypto firms and viewed cryptocurrencies as the next big thing in finance. However, the recent developments in the crypto industry have caused the payment giants to postpone the launch of specific products and services related to cryptocurrencies until market conditions and regulatory environments improve. The U.S. regulatory landscape remains unpredictable, leaving Visa and Mastercard to reevaluate their strategies and navigate through choppy waters. Open / Comment

2023-02-28 16:06:38 The Solana Foundation is still investigating the reason behind the almost 20-hour network outage that took place after a network upgrade. The outage impacted all on-chain activity, including NFT and DeFi trading. The Foundation spokesperson said there are no updates to the information that's already been shared. Despite the outage, Solana remains a major player in the industry, boasting the second-largest NFT market, a growing DeFi ecosystem, and the ninth-largest blockchain by the total value of assets on the network. However, backlash on Twitter has been fiery and persistent through the weekend. Open / Comment

2023-02-28 13:30:50 Shiba Inu's recent dip in price may be a buy signal for traders as it approaches the bottom of its current range. Despite recent regulatory pressure and market downturn, SHIB's short-term outlook suggests a possible trend reversal if support at $0.000012 holds. The coin's recent listing on BinanceUS failed to provide the expected boost to the price, which has fallen 8.1% over the past seven days. High negative volume suggests fund outflows may continue to negatively impact SHIB's momentum. Open / Comment

2023-02-28 04:11:02 LaunchZone, a decentralized protocol on BNB Chain, lost $700,000 in an exploit on PancakeSwap DEX. Trading of its token, LZ, was paused and later delisted by Biswap. The LZ/BUSD trading pair on PancakeSwap DEX showed a spike in trading volume of over 7,000% in the last 24 hours, suggesting it may have been used in the exploit. Chainalysis reported that DeFi exploiters stole over $3 billion in 2022, accounting for 82% of all crypto attacks. COO of Halborn suggested that many DeFi protocols suffer attacks due to insufficient investment in security personnel. Earlier this month, Jump Crypto found a security flaw in Binance’s BNB Chain that was resolved within 24 hours. Open / Comment

2023-02-27 21:26:01 Moonhub's weekly report is now available, providing news, events, technical analysis, and a short story to kickstart your week. For a useful summary, check out the link below:

https://telegra.ph/Moonhub-Weekly-2702-02-27-2 Open / Comment

2023-02-27 14:37:59 SEC Chair, Gary Gensler, has reasserted his view that all crypto assets aside from Bitcoin are subject to US securities laws, a stance that has been met with disagreement from lawyers. Gensler claims that the people behind crypto projects are trying to entice investors and promote tokens, making them securities. However, legal experts argue that Gensler's opinion is not law and that the SEC lacks the authority to regulate any asset until it proves its case in court. Until a regulatory framework is established, the SEC will continue to enforce actions against crypto assets. Open / Comment

2023-02-27 07:18:41 Despite low trading volumes, GMX's TVL outperformed its competitor dydx by four times, generating a 7.6% increase in revenue over the past week. However, with a declining number of daily active users, the growth in revenue could soon come to a halt, jeopardizing GMX's revenue and volume. Although the velocity of GMX decreased, the protocol continued to flourish. Open / Comment