China News Today TheBitTimes.com

In what would come as a surprise to some, Cardano has emerged victorious in a recent poll that sees ADA beat out both Ethereum (ETH) and Solana (SOL). Indeed, cryptocurrency rating agency Weiss Crypto shared a poll on X (formerly Twitter) that saw Cardano dominate the competition. The outcome is rather surprising considering the status of both ETH and SOL. The two assets represent some of the most important in the crypto space. Moreover, Solana has firmly established itself throughout 2024 as one of the crypto’s big three, alongside Ethereum and Bitcoin. Source: Blockworks Also Read: Cardano Founder Says ADA Upgrade Makes it Faster Than Solana Cardano Leads ETH and SOL? Poll Shows the One Area ADA is Clearly Favored Throughout this year, Cardano has certainly struggled. It’s lack of momentum has led it to exit the Top 10 cryptocurrencies by market cap entirely. Specifically, the token was surpassed by a surging Tron (TRX) that has refused to relinquish its position. Yet, tha...

Digital Asset blames the ASX for not providing it with crucial information while the ASX says these claims are misleading. Digital Asset — the New York firm responsible for Australian Securities Exchange’s now-abandoned blockchain -based clearing system — has blamed the securities exchange for dropping its blockchain plans. Meanwhile, representatives of the ASX have clapped back in statements to Cointelegraph, calling the claims misleading. For the last seven years, the ASX was poised to be the world’s first securities exchange to adopt blockchain technology, which would be in partnership with the New York-based firm. However, in a u-turn, ASX announced on May 17 that it would be abandoning the upgrade and likely look at more conventional tech. According to a recent report from The Australian, Eric Saraniecki, the co-founder of Digital Asset told the attendees of a June 8 parliamentary joint committee on corporations and finance that there were two main reasons why the blockchain...

The first three to five weeks after Ethereum’s upcoming Shapella upgrade will likely see an uptick in selling from unstaked deposits. The Ethereum Foundation has announced April 12 as the date of deployment of the much-anticipated Shanghai and Capella upgrade, together dubbed as Shapella. The upgrades will enable withdrawals from Ethereum 2.0 staking contracts. The staking contract was first launched in December 2020. It only accepted one-way deposits of ETH, which will change after the upgrade. To date, users have deposited over 18 million ETH, worth around $32.5 billion, into the Ethereum staking contract at varying times since December 2020. Analysts vary on the estimates of ETH sell pressure Most users opted for liquid staking derivatives on decentralized or centralized exchanges. Because these stakers are already liquid, there will likely be no new reason to sell after the Shapella upgrade. Decentralized LSD platforms like Lido currently account for around 33.2% of the total ETH...

A public burn() function introduced in the latest upgrade allegedly allows users to burn tokens from other addresses. SafeMoon, a project previously endorsed by A-list celebrities and social influencers such as Jake Paul and Soulja Boy, announced its liquidity pool (LP) was compromised. Without revealing further details about the attack, SafeMoon confirmed undertaking steps “to resolve the issue as soon as possible.” Just like many other crypto projects in 2021, SafeMoon was backed by numerous celebrities. However, a lawsuit from Feb. 2022 alleged that musicians such as Nick Carter, Soulja Boy, Lil Yachty and YouTubers Jake Paul and Ben Phillips mimicked real-life Ponzi schemes by misleading investors to purchase SafeMoon (SFM) tokens under the pretext of unrealistic profits. Jake Paul promoting SafeMoon token in 2021. Source: Twitter Investigating the SafeMoon hack shows that the attacker made away with approximately 27,000 BNB (BNB), worth $8.9 million. SafeMoon has not yet respon...