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Crypto Shankar

Altcoins

<p>A groundbreaking study has shed light on the significant influence of crypto-spouting Twitter bots in artificially inflating the prices of various altcoins, surpassing previous understanding. The Network Contagion Research Institute (NCRI) conducted an extensive analysis, scrutinising over 3 million tweets related to 18 altcoins listed on FTX from 1 January, 2019, to 27 January, 2023.</p>

<drupal-entity data-caption="(NCRI Study: FTX Listing and Mention Boost Bot-Generated Tweets)" data-embed-button="ckeditor_image" data-entity-embed-display="view_mode:media.image" data-entity-type="media" data-entity-uuid="8637bda1-b8be-45d4-9a77-5afa7cee6eda"></drupal-entity>

<p>The findings expose the pivotal role played by Twitter bot activity in driving up the value of altcoins such as The Sandbox, GALA, Gods Unchained (GODS), and LooksRare (LOOKS). Notably, half of the coins showed clear indications of price manipulation due to tweet bot activity.</p>

<p>The study points out that the frequency of inauthentic tweets surged notably after FTX posted about specific tokens on social media, raising questions about potential coordination between FTX or Alameda Research and the bot activity.</p>

<p>Further it said:</p>

<blockquote class="at-quotes">
<p>“In fact, for half of the FTX listed coins in the sample, inauthentic tweet volume showed signs of forecasting subsequent price. This suggests that inauthentic networks successfully and deliberately deployed to influence changes in FTX coin prices,”</p>

<div class="author">NCRI</div>
</blockquote>

<p>Moreover, the research revealed that inauthentic tweet volume had a predictive effect on subsequent price movements for approximately half of the FTX-listed coins in the sample. This observation strongly suggests that these inauthentic networks were strategically deployed to influence changes in FTX coin prices deliberately.</p>

<h3>Elon Musk's tweets &amp; memecoins: A significant influence on Altcoin prices</h3>

<p>Elon Musk's tweets also came under scrutiny in the study, which examined their impact on two recent memecoins - Pepe (PEPE) and PSYOP. The study demonstrated how Musk's tweets, along with orchestrated bot activity, played a role in influencing the prices of these tokens.</p>

<blockquote class="twitter-tweet">
<p dir="ltr" lang="en">Explaining Constitutional Amendments <a href="https://t.co/oYkMPBe9Zi">pic.twitter.com/oYkMPBe9Zi</a></p>
— Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1657318313532313600?ref_src=twsrc%5Etfw">May 13, 2023</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

<p>Notably, before the launch of PEPE, NCRI detected a surge in newly created bot accounts, all of which later tweeted about either PEPE or PSYOP. Additionally, memes played a key role in boosting the popularity of these tokens, further accentuated by Musk's apparent endorsement through his tweets.</p>

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<p>The researchers also underscored the broader implications of this phenomenon, as it could potentially impact not only cryptocurrency markets but also traditional stocks and securities.</p>

<p>As observed on social media in 2022 around "meme stocks" like GameStop and AMC serves as a cautionary example, highlighting how orchestrated bot activity and influential tweets could sway market sentiment and prices.</p>

<p>In short, this study unravels the extensive and concerning influence of Twitter bots on altcoin prices, raising questions about market fairness and transparency.</p>

<p>As the cryptocurrency landscape continues to evolve, investors and regulators must remain vigilant in understanding and mitigating the impact of social media manipulation on digital asset markets.</p>


Study raises concerns about FTX or Alameda's potential involvement in coordinating Twitter bots for personal gains


Study highlights Twitter bots impact on altcoin prices

Elon Musk's tweets influence memecoin prices

Concerns raised about FTX's role in bot activity

Elon Musk tweet drives ALtcoin price fluctuations

cryptocurrency

altcoins

Elon Musk's tweets and Twitter bot spam drive Altcoin price fluctuations: Study

Influential tweets & Twitter bot spam: Study shows impact on Altcoin prices

<p>On 3 August 2023, Litecoin (LTC) is set to undergo a significant event known as halving, making it an important date for cryptocurrency enthusiasts. As one of the most popular cryptocurrencies and considered the second-oldest after Bitcoin (BTC), Litecoin was created by Charlie Lee, a former Google engineer, with the aim of improving upon Bitcoin's perceived limitations.</p>

<p>One of Litecoin's main objectives is to offer faster transaction processing speeds and address concerns related to mining centralisation. Unlike Bitcoin, which has evolved into a "store of value," Litecoin's focus remains on becoming a practical and efficient digital currency for everyday transactions.</p>

<p>Let's explore the unique features of Litecoin and understand how it operates in the world of cryptocurrencies.</p>

<p>&nbsp;</p>

<blockquote class="twitter-tweet">
<p dir="ltr" lang="en">Litecoin <a href="https://twitter.com/search?q=%24LTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$LTC</a> halving is just HOURS away. 👇 🚀 💎 <a href="https://t.co/2CoOpVzdzs">pic.twitter.com/2CoOpVzdzs</a></p>
— Altcoin Daily (@AltcoinDailyio) <a href="https://twitter.com/AltcoinDailyio/status/1686542447374106631?ref_src=twsrc%5Etfw">August 2, 2023</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

<h3>What Is Litecoin &amp; how does it work?</h3>

<p>Litecoin, introduced in 2011, is one of the first altcoin - cryptocurrencies other than Bitcoin and sometimes Ethereum. It was created to provide fast, secure, and low-cost payments. The main goal of Litecoin was to improve upon Bitcoin's technology and offer merchants an alternative with quicker settlement times and better transaction speeds.</p>

<p>Litecoin shares many similarities with Bitcoin. Both cryptocurrencies utilise proof of work to verify transactions and operate on open-source principles. However, Litecoin uses a different hashing algorithm called Scrypt, which enables faster transaction speeds.</p>

<p>While Bitcoin can process about five transactions per second with block generation taking approximately 10 minutes, Litecoin can handle 54 transactions per second, with new blocks created every 2.5 minutes.</p>

<h3>How Litecoin is mined?</h3>

<p>Litecoin mining is a complex and energy-intensive process, similar to Bitcoin mining. Miners compete to solve complex mathematical puzzles, known as hashes, in order to validate and record new transactions on the Litecoin blockchain. The first miner to solve the hash for a particular block is rewarded with newly created Litecoin as an incentive for their efforts.</p>

<p>The current block reward is set at 12.5 LTC, but this reward is subject to halving events that occur approximately every 840,000 transactions, reducing the reward by half. To solve these hashes efficiently, miners use specialised hardware, such as application-specific integrated circuits (ASICs) and graphics processing units (GPUs), to perform the complex calculations required.</p>

<p>The energy-intensive nature of Litecoin mining has led to the establishment of large-scale mining farms and pools, where multiple miners combine their computational power to increase their chances of successfully mining new blocks. Litecoin's mining process ensures the security and immutability of its blockchain while steadily releasing new coins into circulation, maintaining the integrity of the network.</p>

<div id="tab-link-wrapper-plugin">
<div class="heading-text"><strong>Also Read</strong></div>

<ul class="tab-link">
	<li class="editor-readmore"><a class="editor-rel-content" href="https://www.web3cafe.in/cryptocurrency/altcoins/story/cardano-worst-week-finally-over-since-2021-578702-2023-06-13">Cardano’s most challenging week since May 2021 finally over: What’s next for ADA altcoin?</a></li>
</ul>

<div id="tab-video-wrapper-plugin">&nbsp;</div>
</div>

<h3>How is Litecoin halved?</h3>

<p>Litecoin undergoes a fascinating process known as halving, which plays a crucial role in controlling its supply and inflation. Just like Bitcoin, Litecoin's total supply is capped, but instead of 21 million coins like Bitcoin, Litecoin has a maximum supply of 84 million coins.</p>

<p>The halving process occurs at regular intervals, specifically after every 840,000 transactions. When miners successfully add a new block to the Litecoin blockchain, they are rewarded with a specific number of newly-generated LTC. However, during a halving event, this reward is reduced by half.</p>

<p>For instance, when Litecoin first launched, miners received 50 LTC for each block added. Over time, this reward has halved several times, with the current reward standing at 12.5 LTC per block. By decreasing the block reward periodically, Litecoin ensures a gradual and controlled release of new coins into the market, making it a more deflationary asset in the long run.</p>

<p>The next Litecoin halving is set to happen 3 August 2023, further cementing its reputation as a well-structured and robust cryptocurrency.</p>

<h3>Litecoin advantages &amp; disadvantages</h3>

<p>At the time of writing, Litecoin's transaction fees were significantly lower, making it an attractive option for merchants and users alike. Litecoin has faced some challenges, including its creator's divestment of most of his holdings in 2017, which caused some loss of confidence in the cryptocurrency.</p>

<p>Additionally, newer cryptocurrencies with even faster transaction speeds, such as EOS, XRP, and Cardano, have emerged, potentially reducing the demand for Litecoin's faster payment network.</p>

<p>In short, Litecoin remains a relevant and widely traded cryptocurrency, offering practicality for both seasoned investors and newcomers. While it might face competition from newer alternatives, Litecoin's advantages and staying value still make it a viable choice for those seeking efficient and convenient digital transactions.</p>

<p>As with any investment, it's crucial to conduct thorough research and consider your financial goals before buying Litecoin or any other cryptocurrency.</p>


Discover Litecoin mining and its rewarding process. Learn how miners validate transactions, use specialised hardware, and ensure network security. Explore the impact of halving events on mining rewards and coin circulation in the Litecoin blockchain.


Litecoin, was introduced in 2011, and is considered as one of the first altcoins

Litecoin mining is a complex and energy-intensive process, similar to Bitcoin mining

The energy-intensive nature of Litecoin mining has led to the establishment of large-scale mining farms and pools 

Altcoin halving set to happen on 3 August 2023

 Litecoin halving: A complete guide to how it's mined & what to expect tomorrow

LTC halving on August 3, 2023: Unveiling Litecoin's unique features

<p>Cardano (ADA) is a blockchain platform aiming to provide a secure and scalable infrastructure for decentralised applications. ADA recently experienced a significant decline of nearly 30 percent but has since shown a modest bounce. However, predicting future price movements requires a thorough analysis of charts, indicators, and market trends.</p>

<blockquote class="twitter-tweet">
<p dir="ltr" lang="en">Cardano’s worst week since May 2021 is over — Will ADA price rebound 40%?<br />
Read more: <a href="https://t.co/9dJ1m64sG0">https://t.co/9dJ1m64sG0</a><br />
Credit: Coin Telegraph <a href="https://twitter.com/hashtag/crypto?src=hash&amp;ref_src=twsrc%5Etfw">#crypto</a></p>
— Metaverse Media Group (@metamediaworld) <a href="https://twitter.com/metamediaworld/status/1668186014018306048?ref_src=twsrc%5Etfw">June 12, 2023</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

<h3>Why did Cardano go down?</h3>

<p>The Securities and Exchange Commission&nbsp;(SEC) alleged that Coinbase was involved in the illegal trading of tokens categorised as securities and not commodities since 2019, it was also said to be involved in the intertwining of exchanges, broker &amp; clearing agencies without SEC registration, resulting in the loss of billions of dollars.</p>

<p>On June 9, U.S.-based investment platform Robinhood, which allows users to trade cryptocurrencies, announced it would delist ADA from its platform. This preceded a 30 percent drop in ADA’s price on the day.</p>

<h3>Cardano reaches unprecedented undervaluation since March 2020</h3>

<p>Cardano has shown signs of a potential recovery despite recent setbacks. The token's current bounce-back follows a significant drop in its daily relative strength index (RSI), which measures the speed and magnitude of a security's recent price changes to evaluate overhauled or undervalued conditions in the price of that security.</p>

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<p>In the past, Cardano experienced a 900 percent price surge within four months after similar oversold readings in March 2020. This was primarily driven by the Federal Reserve's quantitative easing policy, which boosted confidence in riskier markets. However, the current scenario differs as the Fed plans to raise interest rates to combat persistent inflation, potentially draining liquidity from the market.</p>

<p>Moreover, the SEC's regulatory actions have created unfavorable conditions for crypto assets like ADA in the U.S. Considering these factors, any potential rebound from oversold levels might be weaker than the post-March 2020 market recovery.</p>

<drupal-entity data-caption="Three day comparison chart for ADA token ( source: TradingView)" data-embed-button="ckeditor_image" data-entity-embed-display="view_mode:media.image" data-entity-type="media" data-entity-uuid="232311d4-6b40-4b5c-b4b3-7250033bd373"></drupal-entity>

<p>Analysing the three-day chart, ADA appears to be trading within a range of $0.247–0.382, similar to its price trends in January 2021 and January 2023. A rebound from the $0.247 support level could initiate an uptrend toward $0.382 by October 2023. This resistance level, which is 40 percent higher than the current price, aligns with the 200-3D EMA (the red wave).</p>


 The price of Cardano declined by 30 percent after it was expunged by popular trading platforms like Robinhood.

Cardano shows signs of a potential recovery despite recent setbacks

The (SEC) labeled Cardano as unregistered security in lawsuits against Binance & Coinbase.

 Cardano’s most challenging week since May 2021 finally over: What’s next for ADA altcoin?

 Cardano’s most challenging week since 2021 finally over

Artificial Intelligence

<p>A piece of good news for Solana patrons! Its users will soon be able to connect with the network through an open-source plugin enabled on ChatGPT, OpenAI’s artificial intelligence (AI) chatbot, that is capable of fetching data around keywords and topics from the world Web. With this, Solana blockchain makes its mark in the world of AI with a ChatGPT plugin.</p>

<p>The said functionality is likely to be introduced by Solana Labs, the parent of the eco-friendly Solana blockchain. When the plugin launches, users would be able to perform various tasks through the ChatGPT user interface. For instance, Solana would permit ChatGPT to check wallet balances, transfer Solana-based tokens and purchase non-fungible tokens (NFTs) when OpenAI makes plugins available. Solana Labs confirmed the said development through Twitter. It is expected that the new development would make it easier for users to navigate the blockchain.</p>

<blockquote class="twitter-tweet">
<p dir="ltr" lang="en">(1/2) Solana Labs has created an open-source reference implementation for a ChatGPT plugin that lets users interact with the <a href="https://twitter.com/solana?ref_src=twsrc%5Etfw">@solana</a> network directly from ChatGPT.<br />
<br />
Users will be able to check wallet balances, transfer tokens, and purchase NFTs once ChatGPT plugins are available. <a href="https://t.co/08z1IX76zJ">pic.twitter.com/08z1IX76zJ</a></p>
— Solana Labs (@solanalabs) <a href="https://twitter.com/solanalabs/status/1650955017585606656?ref_src=twsrc%5Etfw">April 25, 2023</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

<p>&nbsp;</p>

<p>Here, it must be noted that OpenAl the creator of ChatGPT, will be building the said plugin for Solana Labs, which is likely to reach all of its ecosystem members in the coming days.</p>

<p>It seems that Solana Labs is now emphasising AI more as recently it has announced offering funds worth $1 million towards projects that build AI tools on its blockchain.</p>

<h3>Not all users are happy with the said development</h3>

<p>However, not all users have welcomed this development. One of the users questioned what benefit would it bring to the ecosystem, while another mentioned that Solana should first focus on building a working block explorer and schooled the company to prioritise the introduction of more needed features first.</p>


Solana blockchain is entering the space of artificial intelligence with a ChatGPT plugin, wherein users would be able to perform various tasks through the ChatGPT user interface.

Solana Labs has revealed a new ChatGPT plugin

It will let users search the Solana blockchain using OpenAI’s chatbot technology

Users can check their wallet balances and buy digital collectibles

Solana Labs announces ChatGPT plugin; expects enhancing user experience 

Solana Labs announces ChatGPT plugin

<p class="MsoNormal" style="text-align:justify"><span lang="EN-IN" style="font-size:12.0pt;line-height:115%;mso-bidi-font-family:Calibri;
mso-bidi-theme-font:minor-latin;mso-ansi-language:EN-IN">According to a blog post, the Avalanche Foundation has launched an initiative, titled “Avaissance”, to support non-fungible token (NFT) artists.<o:p></o:p></span></p>

<p class="MsoNormal" style="text-align:justify"><span lang="EN-IN" style="font-size:12.0pt;line-height:115%;mso-bidi-font-family:Calibri;
mso-bidi-theme-font:minor-latin;mso-ansi-language:EN-IN">In other words, the said initiative is designed to support </span><span style="font-size:12.0pt;
line-height:115%;mso-bidi-font-family:Calibri;mso-bidi-theme-font:minor-latin;
background:white">digital artists and boost the growth of the Avalanche nonfungible token (NFT) ecosystem.</span><span lang="EN-IN" style="font-size:
12.0pt;line-height:115%;mso-bidi-font-family:Calibri;mso-bidi-theme-font:minor-latin;
mso-ansi-language:EN-IN"><o:p></o:p></span></p>

<h3 class="MsoNormal" style="text-align: justify;"><span lang="EN-IN" style="font-size:12.0pt;line-height:115%;mso-bidi-font-family:Calibri;
mso-bidi-theme-font:minor-latin;mso-ansi-language:EN-IN">Know more about Avaissance<o:p></o:p></span></h3>

<p class="MsoNormal" style="text-align:justify"><span lang="EN-IN" style="font-size:12.0pt;line-height:115%;mso-bidi-font-family:Calibri;
mso-bidi-theme-font:minor-latin;mso-ansi-language:EN-IN">As per the platform, </span><span style="font-size:12.0pt;line-height:115%;mso-bidi-font-family:Calibri;
mso-bidi-theme-font:minor-latin;background:white">Avaissance initiative will consist of two parts. The first component involves AIR, i.e., </span><span style="font-size:12.0pt;line-height:115%;mso-bidi-font-family:Calibri;
mso-bidi-theme-font:minor-latin;background:#FAFAFB">Artist in Residence (AIR) program, which would offer </span><span lang="EN-IN" style="font-size:12.0pt;
line-height:115%;mso-bidi-font-family:Calibri;mso-bidi-theme-font:minor-latin;
mso-ansi-language:EN-IN">funding, mentorship, and virtual workshop sessions to over fifty digital artists. Here, artists of any skill level working in any digital medium can apply for the program until 28 April. It is noted that each artist will release a collection of NFTs on the Avalanche blockchain.<o:p></o:p></span></p>

<p class="MsoNormal" style="text-align:justify"><span lang="EN-IN" style="font-size:12.0pt;line-height:115%;mso-bidi-font-family:Calibri;
mso-bidi-theme-font:minor-latin;mso-ansi-language:EN-IN">As of now, the platform has announced three mentors, the motion graphics Emonee LaRussa, ALLSHIPS founder Dave Krugman, and Valhalla Chief of Staff Ryan Wen.<o:p></o:p></span></p>

<p class="MsoNormal" style="text-align:justify"><span lang="EN-IN" style="font-size:12.0pt;line-height:115%;mso-bidi-font-family:Calibri;
mso-bidi-theme-font:minor-latin;mso-ansi-language:EN-IN">Further, the said component will give selected artists </span><span style="font-size:12.0pt;line-height:
115%;mso-bidi-font-family:Calibri;mso-bidi-theme-font:minor-latin;letter-spacing:
-.05pt">a 6-month opportunity to pursue a personal creative project while receiving funding, one-on-one mentorship, virtual workshop opportunities, and support from the Avalanche ecosystem. Artists can attend educational sessions tailored to help them manage successful careers. Moreover, this program comprises one-hour virtual workshops on marketing strategies, the use of digital tools, etc. <o:p></o:p></span></p>

<p class="MsoNormal" style="text-align:justify"><span style="font-size:12.0pt;
line-height:115%;mso-bidi-font-family:Calibri;mso-bidi-theme-font:minor-latin;
letter-spacing:-.05pt">The second initiative is called </span><span style="font-size:12.0pt;line-height:115%;mso-bidi-font-family:Calibri;
mso-bidi-theme-font:minor-latin;background:#FAFAFB">the Mona Lisa Initiative (MLI), which is a collaborative digital art curation program. It aims to </span><span style="font-size:12.0pt;line-height:115%;mso-bidi-font-family:Calibri;
mso-bidi-theme-font:minor-latin;letter-spacing:-.05pt">collaborate with DAOs’ (</span><span style="font-size:12.0pt;line-height:115%;mso-bidi-font-family:Calibri;
mso-bidi-theme-font:minor-latin;background:white">decentralized autonomous organizations) </span><span style="font-size:12.0pt;line-height:115%;
mso-bidi-font-family:Calibri;mso-bidi-theme-font:minor-latin;letter-spacing:
-.05pt">curatorial teams, helping to cement the next generation of digital art, thereby establishing <span style="background:white">an Avalanche Permanent Collection.<o:p></o:p></span></span></p>

<h3 class="MsoNormal" style="text-align: justify;"><span style="font-size:12.0pt;
line-height:115%;mso-bidi-font-family:Calibri;mso-bidi-theme-font:minor-latin;
letter-spacing:-.05pt;background:white">A little about Avalanche<o:p></o:p></span></h3>

<p class="MsoNormal" style="text-align:justify"><span style="font-size:12.0pt;
line-height:115%;mso-bidi-font-family:Calibri;mso-bidi-theme-font:minor-latin;
letter-spacing:-.05pt;background:white">Avalanche is a layer one blockchain that functions as a dApps (decentralised applications) and custom blockchain network. It is highly scalable and has a higher transaction output of up to 6,500 transactions per second.</span><span lang="EN-IN" style="font-size:12.0pt;
line-height:115%;mso-bidi-font-family:Calibri;mso-bidi-theme-font:minor-latin;
mso-ansi-language:EN-IN"><o:p></o:p></span></p>


Avaissance, a new initiative by Avalanche Foundation, supports artists and distributes NFTs to certain DAOs.

Avalanche Foundation had launched an initiative called Avaissance

The initiative aimed at supporting digital artists and boost the growth of the Avalanche NFT ecosystem.

It involves two parts, Artist in Residence program & Mona Lisa Initiative 

Avalanche Foundation launches new initiative

Avalanche Foundation introduces ‘Avaissance’

Get to know ‘Avaissance’, 

Blockchain

<p class="MsoNormal" style="text-align:justify"><span lang="EN-IN" style="font-size:12.0pt;line-height:115%;mso-bidi-font-family:Calibri;
mso-bidi-theme-font:minor-latin;mso-ansi-language:EN-IN">A piece of good news for Cardano users! Now its users will soon get to access EVM (Ethereum Virtual Machine) contracts using any Cardano wallet, thus expanding the platform’s utility for both the developers as well as the users. <o:p></o:p></span></p>

<p class="MsoNormal" style="text-align:justify"><span lang="EN-IN" style="font-size:12.0pt;line-height:115%;mso-bidi-font-family:Calibri;
mso-bidi-theme-font:minor-latin;mso-ansi-language:EN-IN">That is because of a soon-to-be-released feature on Milkomeda, a network that links EVM contracts to blockchains like Cardano and Algorand. The move will allow all Cardano users to access EVM contracts directly from ANY Cardano wallet, states Sebastien Guillemot, CEO of Milkomeda. <o:p></o:p></span></p>

<p class="MsoNormal" style="text-align:justify"><span lang="EN-IN" style="font-size:12.0pt;line-height:115%;mso-bidi-font-family:Calibri;
mso-bidi-theme-font:minor-latin;mso-ansi-language:EN-IN">He added, “Milkomeda is soon enabling staking rewards for all EVM users, including smart contract developers.” He further stated that staking rewards from Cardano products developed on Milkomeda will be paid ‘automatically every 5 days.’<o:p></o:p></span></p>

<h3 class="MsoNormal" style="text-align: justify;"><span lang="EN-IN" style="font-size:12.0pt;line-height:115%;mso-bidi-font-family:Calibri;
mso-bidi-theme-font:minor-latin;mso-ansi-language:EN-IN">What the latest feature holds?<o:p></o:p></span></h3>

<p class="MsoNormal" style="text-align:justify"><span lang="EN-IN" style="font-size:12.0pt;line-height:115%;mso-bidi-font-family:Calibri;
mso-bidi-theme-font:minor-latin;mso-ansi-language:EN-IN">The upcoming feature will allow Ethereum application developers to create dApps (decentralised applications) and DeFi (decentralised finance) on Cardano’s network using Solidity. It must be noted that the latter is a computer language used to code Ethereum and with the help of this feature, developers will not need to install new toolkits or learn a new language.<span style="mso-spacerun:yes">&nbsp; </span>In other words, now applications can be used with Cardano tokens instead of ether, thus increasing their utility for holders.<o:p></o:p></span></p>

<p class="MsoNormal" style="text-align:justify"><span lang="EN-IN" style="font-size:12.0pt;line-height:115%;mso-bidi-font-family:Calibri;
mso-bidi-theme-font:minor-latin;mso-ansi-language:EN-IN">Experts opine that this upcoming feature on Milkomeda would be a game-changer for the blockchain industry. It will not only increase interoperability between blockchain networks but also expands the utility of the ADA network for developers and users. With the ability to earn staking rewards by accessing the EVM contracts directly from any Cardano wallet, users and developers have a lot in store. <o:p></o:p></span></p>

<h3 class="MsoNormal" style="text-align: justify;"><span lang="EN-IN" style="font-size:12.0pt;line-height:115%;mso-bidi-font-family:Calibri;
mso-bidi-theme-font:minor-latin;mso-ansi-language:EN-IN">What is EVM?<o:p></o:p></span></h3>

<p class="MsoNormal" style="text-align:justify"><span lang="EN-IN" style="font-size:12.0pt;line-height:115%;mso-bidi-font-family:Calibri;
mso-bidi-theme-font:minor-latin;mso-ansi-language:EN-IN">Ethereum Virtual Machine, popularly known as EVM, is created as a runtime environment for smart contracts in Ethereum. It runs on top of f the Ethereum network, meaning that all nodes reach a consensus about what code should be executed at every given time.<o:p></o:p></span></p>

<p class="MsoNormal" style="text-align:justify"><span lang="EN-IN" style="font-size:12.0pt;line-height:115%;mso-bidi-font-family:Calibri;
mso-bidi-theme-font:minor-latin;mso-ansi-language:EN-IN">The main purpose of EVM is to compute the platform's state and to run and compile various types of smart contract code into a readable format called 'Bytecode.'<o:p></o:p></span></p>

<p class="MsoNormal" style="text-align:justify">&nbsp;</p>

<p class="MsoNormal" style="text-align:justify"><span lang="EN-IN" style="font-size:12.0pt;line-height:115%;mso-bidi-font-family:Calibri;
mso-bidi-theme-font:minor-latin;mso-ansi-language:EN-IN"><o:p>&nbsp;</o:p></span></p>


The utility of the Cardano network for users and developers will soon be expanded as they will get to EVM contracts using ADA wallets. 

Cardano users will soon get to access EVM contracts using any Cardano wallet

The upcoming feature will soon be released on Milkomeda

The move will expand the platform’s utility for both the developers as well as the users

Cardano users soon to get access to EVM contracts 

Cardano users soon to have direct access to Ethereum dApps through ADA wallets

<p class="text-align-justify">A shocking 3.73 million Arbitrum (ARB) tokens have been dumped by two influential whale accounts, resulting in losses of more than $400,000.<br />
<br />
<strong>How much the losses actually cost?</strong><br />
<br />
According to information tracked by on-chain observer BitcoinEmber, the first whale address "0x1dd9" sold 2.03 million ARB at an average selling price of $1.14 USDT, causing a loss of about $160,000.<br />
<br />
An average selling price of $1.16 USDT was paid for 1.7 million ARB by the second whale address, "0xca71," resulting in a loss of nearly $270,000 (this whale purchased 1.95 million ARBs for $1.32 between March 24-28). Just 50,000 ARB worth of SushiSwap pair liquidity is available at the moment for the location.<br />
<br />
<strong>Reasons behind sell-offs&nbsp;</strong><br />
<br />
The primary cause of sell-offs is thought to be the current instability at the Arbitrum Foundation. On March 28, Arbitrum created an AIP-1 governance proposal that would give the foundation ownership over around 750,000 million ARB coins. These $1 billion in USD tokens would be used for specialised support initiatives.<br />
<br />
Although it might seem like a good deal, AIP-1 (Arbitrum Improvement Proposal) does not grant holders of Arbitrum's governance tokens the ability to choose how the Arbitrum Foundation will spend money that is in its custody.<br />
<br />
The Arbitrum foundation won't have to introduce governance funding tokens to the network, whose owners would otherwise be able to vote and influence the direction of their ecosystem.<br />
<br />
If this proposal is approved, the Arbitrum Foundation will be granted full access to the administrative budget wallet and won't be required to go through the online AIP procedure in order to award funds.<br />
According to Blockworks Research, a research organisation representing over 2,000 investors, only 3.4 billion of the 4.27 billion tokens were transferred to the DAO (decentralised autonomous organisation).<br />
<br />
A shocking 750 million tokens were moved to the Arbitrum budget wallet under the Arbitrum Foundation's control prior to the proposal being approved. Several investors have also claimed that Arbitrum altered token values that were supposed to be frozen until March 2024.<br />
<br />
According to Lookonchain, 2.69 billion tokens given to teams, advisers, and investors were transferred to 140 different addresses. Investors believe that the token pre-sale is fraudulent, and they have the option of filing a lawsuit if necessary.<br />
&nbsp;</p>


3.73 million Arbitrum tokens were transferred by two whale addresses, resulting in losses of over $400,000.

Two whale addresses lost more than $400,000

Instability at the Arbitrum Foundation is causing sell-offs

Arbitrum Foundation moved 750 million tokens to budget wallet prior to proposal approval

Two whales sell 3.73 million Arbitrum tokens

Two whales sell 3.73 million Arbitrum tokens, causes significant losses

Two ARB whales dump 3.73 million tokens

<p class="MsoNormal" style="text-align:justify"><span lang="EN-IN" style="font-size:12.0pt;mso-bidi-font-size:11.0pt;line-height:115%;mso-bidi-font-family:
Calibri;mso-bidi-theme-font:minor-latin;mso-ansi-language:EN-IN">Altcoin refers to any digital currency other than Bitcoin. In fact, the word 'altcoin’ is made using two words- ‘alt’ meaning alternative and ‘coin’ indicating cryptocurrency. Hence, any alternative crypto to Bitcoin is called an altcoin. <o:p></o:p></span></p>

<p class="MsoNormal" style="text-align:justify"><span lang="EN-IN" style="font-size:12.0pt;mso-bidi-font-size:11.0pt;line-height:115%;mso-bidi-font-family:
Calibri;mso-bidi-theme-font:minor-latin;mso-ansi-language:EN-IN">Over the years, a host of altcoins have gained popularity and many of them, have outshined Bitcoin, on several occasions. In this article, we would talk about the top three altcoins by market capitalisation as per Coinmarketcap.<o:p></o:p></span></p>

<h3 class="MsoNormal" style="text-align: justify;"><span lang="EN-IN" style="font-size:12.0pt;mso-bidi-font-size:11.0pt;line-height:115%;mso-bidi-font-family:
Calibri;mso-bidi-theme-font:minor-latin;mso-ansi-language:EN-IN">Ethereum<o:p></o:p></span></h3>

<p class="MsoNormal" style="text-align:justify"><span lang="EN-IN" style="font-size:12.0pt;mso-bidi-font-size:11.0pt;line-height:115%;mso-bidi-font-family:
Calibri;mso-bidi-theme-font:minor-latin;mso-ansi-language:EN-IN">Launched by Vitalik Buterin in 2015, Ethereum is the nearest rival to Bitcoin. Its market cap stands at about $9.14 billion and its native coin is called ETH. <o:p></o:p></span></p>

<p class="MsoNormal" style="text-align:justify"><span lang="EN-IN" style="font-size:12.0pt;mso-bidi-font-size:11.0pt;line-height:115%;mso-bidi-font-family:
Calibri;mso-bidi-theme-font:minor-latin;mso-ansi-language:EN-IN">It is a decentralized open-source blockchain system that works as a platform for numerous other cryptocurrencies. Moreover, Ethereum is the pioneer of the blockchain smart contract platform.<o:p></o:p></span></p>

<p class="MsoNormal" style="text-align:justify"><span lang="EN-IN" style="font-size:12.0pt;mso-bidi-font-size:11.0pt;line-height:115%;mso-bidi-font-family:
Calibri;mso-bidi-theme-font:minor-latin;mso-ansi-language:EN-IN">At the time of writing this article, ETH was trading at $1,893.62, down by 0.80 percent since the past day.<o:p></o:p></span></p>

<h3 class="MsoNormal" style="text-align: justify;"><span lang="EN-IN" style="font-size:12.0pt;mso-bidi-font-size:11.0pt;line-height:115%;mso-bidi-font-family:
Calibri;mso-bidi-theme-font:minor-latin;mso-ansi-language:EN-IN">XRP<o:p></o:p></span></h3>

<p class="MsoNormal" style="text-align:justify"><span lang="EN-IN" style="font-size:12.0pt;mso-bidi-font-size:11.0pt;line-height:115%;mso-bidi-font-family:
Calibri;mso-bidi-theme-font:minor-latin;mso-ansi-language:EN-IN">Next comes XRP/ XRP Ledger, which was launched in 2021 by David Schwartz, Jed McCaleb and Arthur Britto, its native currency is XRP. Presently, its market cap is valued nearly at $25.91 billion. <o:p></o:p></span></p>

<p class="MsoNormal" style="text-align:justify"><span lang="EN-IN" style="font-size:12.0pt;mso-bidi-font-size:11.0pt;line-height:115%;mso-bidi-font-family:
Calibri;mso-bidi-theme-font:minor-latin;mso-ansi-language:EN-IN">XRP boasts of being low-cost, offering swift transactions and high scalability (handling<span style="mso-spacerun:yes">&nbsp; </span>1,500 transactions per second, 24x7). Moreover, it is energy-efficient as it settles transactions in 3-5 seconds, as stated on its official website.<o:p></o:p></span></p>

<p class="MsoNormal" style="text-align:justify"><span lang="EN-IN" style="font-size:12.0pt;mso-bidi-font-size:11.0pt;line-height:115%;mso-bidi-font-family:
Calibri;mso-bidi-theme-font:minor-latin;mso-ansi-language:EN-IN">The crypto is increasingly being used for cross-border payments and aims to transform the global financial services space.<o:p></o:p></span></p>

<p class="MsoNormal" style="text-align:justify"><span lang="EN-IN" style="font-size:12.0pt;mso-bidi-font-size:11.0pt;line-height:115%;mso-bidi-font-family:
Calibri;mso-bidi-theme-font:minor-latin;mso-ansi-language:EN-IN">Currently, XRP is priced at $0.5017, decreasing by 0.70 percent over the last 24 hours.<o:p></o:p></span></p>

<h3 class="MsoNormal" style="text-align: justify;"><span lang="EN-IN" style="font-size:12.0pt;mso-bidi-font-size:11.0pt;line-height:115%;mso-bidi-font-family:
Calibri;mso-bidi-theme-font:minor-latin;mso-ansi-language:EN-IN">Cardano<o:p></o:p></span></h3>

<p class="MsoNormal" style="text-align:justify"><span lang="EN-IN" style="font-size:12.0pt;mso-bidi-font-size:11.0pt;line-height:115%;mso-bidi-font-family:
Calibri;mso-bidi-theme-font:minor-latin;mso-ansi-language:EN-IN">Another popular altcoin is Cardano, which was created in 2017, and its native currency is known as ADA. Its market cap stands approximately at $13.54 billion.<o:p></o:p></span></p>

<p class="MsoNormal" style="text-align:justify"><span lang="EN-IN" style="font-size:12.0pt;mso-bidi-font-size:11.0pt;line-height:115%;mso-bidi-font-family:
Calibri;mso-bidi-theme-font:minor-latin;mso-ansi-language:EN-IN">The crypto works on the proof-of-stake consensus mechanism which is less energy intensive as compared to the proof-of-work algorithm. Its PoS protocol is known as Ouroboros and is "environmentally sustainable." Further, Cardano’s goal is to allow "changemakers, innovators, and visionaries" to bring about positive global change.<o:p></o:p></span></p>

<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;
text-align:justify"><span lang="EN-IN" style="font-size:12.0pt;mso-bidi-font-size:
11.0pt;line-height:115%;mso-bidi-font-family:Calibri;mso-bidi-theme-font:minor-latin;
mso-ansi-language:EN-IN">At the time of writing, Cardano is valued at $0.3858, down by 2.52 percent since the previous day.</span><span style="font-size:8.0pt;
mso-bidi-font-size:7.0pt;line-height:115%;mso-fareast-font-family:&quot;Times New Roman&quot;;
mso-bidi-font-family:Calibri;mso-bidi-theme-font:minor-latin"><o:p></o:p></span></p>


Owing to their unique and distinctive features, some altcoins like Ethereum, XRP, and Cardano have become hugely popular.

Any alternative crypto to Bitcoin is called an altcoin

Ethereum, XRP and Cardano are some of the popular altcoins

XRP is known for its swift transactions and is energy-efficient

Top altcoins by market cap-Ethereum, XRP, Cardano

Lens on top 3 altcoins by market cap- Ethereum, XRP, Cardano

Top 3 altcoins by market cap- Ethereum, XRP, Cardano

Web3

<p class="MsoNormal">By the end of February 2023, Solana Spaces, a chain of Solana-themed retail storefronts&nbsp;closed&nbsp;its company-owned and operated stores&nbsp;in Miami and New York City. These stores had given giveaways and discounts on merchandise towards the end of store closure.</p>

<p class="MsoNormal">In 2022, Solana Spaces opened its first physical location in Hudson Yards, New York. It served as a Web3 onboarding area for new users, where devoted Solana fans could purchase their preferred Solana-branded goods. Eventually, a second location was established in Miami's Wynwood neighbourhood, which is known for being a centre for the arts and culture. Also, according to the sources, Orca, the native&nbsp;cryptocurrency exchange, and Phantom,a Solana-based wallet provider, supported the project.</p>

<p class="MsoNormal">The ambitious project, however, was comparatively short-lived because the company was forced to close its stores as a result of the prolonged&nbsp;crypto winter. In fact, the company's creator, Vibhu Norby, posted on Twitter and gave explanations for the closures of the stores.</p>

<h3 class="MsoNormal">Why the store was shut down?&nbsp;</h3>

<p class="MsoNormal">When Solana Spaces was introduced, its&nbsp;founder hoped the&nbsp;store to fetch over 100,000 visitors&nbsp;each month. However, over the course of its seven-month &nbsp;existence, only 75,000 customers entered the store.&nbsp;</p>

<p class="MsoNormal">He added that the company's physical stores had hit a "inflection point," forcing them to shift their attention to the DRiP, the company's brand-new nonfungible token artwork airdrop platform, which was attracting an equal volume of customers to the real stores.</p>

<p class="MsoNormal">Norby said that the "experiment" was a component of a larger strategy to attract more users to the Solana and Web3 ecosystem. In fact, collectors can get free Solana NFTs from the DRiP website.</p>

<p class="MsoNormal">Meanwhile, a number of Solana-native industry players,&nbsp;recognised Solana Spaces' value to the ecosystem, including the Star Atlas and other videogame initiatives.</p>


Solana Spaces stores were shut in February 2023. The main cause of their shutdown may have been due to a failure to onboard the anticipated number of users.

By the February-end, Solana Spaces had closed its stores in Miami and New York City

They served as a Web3 onboarding area for new users, where Solana fans could purchase their preferred Solana-branded goods

Nonetheless, they will continue to have a smaller presence within Miami's other apparel stores

Solana Spaces shuts down

Solana Space closes its stores in New York City & Miami

Solana Space shuts stores in NYC & Miami

<p>All other cryptocurrencies other than Bitcoin are referred to as Altcoin. Altcoins represent a major chunk of the crypto framework and offer different functionalities other than just being a store of value. Some of the most commonly known Altcoins are Ethereum, Ripple, Monero, and Solana. In this section, we cover the latest news and updates about altcoins and how they affect the overall crypto market.&nbsp;</p>


Altcoin News and Updates: Find and read latest news on altcoin cryptocurrency. Check top headlines, videos, photos and breaking news on altcoin, altcoin crypto prices, altcoin cryptocurrency.