TheDinarian
News • Business • Investing & Finance
? The Dinarian on Locals brings you the latest in news, interviews, in-depth conversations, and stories from across the blockchain and global communities—within and beyond cryptocurrency ?. Experts delve into how blockchain technology is reshaping industries, enhancing business networks ?, transforming transaction workflows, and advancing distributed ledger systems ??. We also explore intriguing topics that may venture into the realm of conspiracies—and so much more!
Interested? Want to learn more about the community?
Altcoins start to wake up again: Solana $SOL, Binance Coin $BNB, and Theta Network ($THETA) ready to run šŸƒ‍ā™€ļø šŸš€

With Bitcoin ($BTC) potentially bringing its latest reversal to an end, the altcoins are primed to run. Solana ($SOL), Binance Coin ($BNB), and šŸ‘‰ Theta Network ($THETA) are three likely candidates for breakouts.

Total 3 tracks the combined market cap of all cryptocurrencies except $BTC and $ETH. The 2-week chart shows that the combined market cap is still on target to achieve the measured move out of its cup and handle pattern (drawn in yellow). This suggests that altcoins have quite some way to go in order to attain this target of $1.29 trillion. It could also be borne in mind that a possible even bigger cup and handle pattern could be playing out, with the handle being formed right now.

On the downside, the RSI at the bottom of the chart is showing that this current red 2-week candle has resulted in the indicator line being rejected from the descending trendline. This indicator line will definitely need to turn back up and break the descending trendline in order to reverse the downward trend.

$SOL could be the first of the major altcoins to recover.

Solanaā€™s descent over these last few weeks has surprised many. A beautiful cup and handle pattern had broken to the upside, and all seemed very bright for the $SOL price going forward. However, the major support at $202 gave way and the price continued on down to finally be held up by good support at $176. This also coincides with the upward trendline.

$SOL is currently up 2.3% on Monday so far, and has come up against the first horizontal resistance at $184. $SOL bulls will need to break this and then repeat this feat if the price can get back to the pivotal $202 major resistance.

The Stochastic RSI (momentum indicator) on the weekly chart is fast returning to the bottom and a potential reset. Compared with $BTC and major altcoins, this indicator for $SOL is a lot more advanced, meaning that $SOL could start its main recovery before most.

The weekly chart for $BNB is very similar to that of $SOL, given that the upward trend is still in force. However, $BNB is at its breakout level right now. A band of very strong resistance stretches from $660 to $675, and the price is up against the upper of these resistances currently.

$BNB will either now break out again, or the upward trend will be broken to the downside. The Stochastic RSI is on the way down, but not being as advanced as that of $SOL, the downward momentum could keep the price suppressed a while longer.

$THETA bulls still have it all to do

Unlike $SOL and $BNB, the $THETA price is still a long, long way from its all-time high. With the bull market potentially in its last stage, this does not bode well for $THETA in the longer term.

That said, the price is up 4.4% so far on Monday, bringing it to the major horizontal resistance at $2.25. Bulls need to push the price through this level and above the last local high at $3.80 in order for any kind of recovery to take place.

Nevertheless, with the Stochastic RSI indicators on their way back down from the top, the likelihood of rejection is probably quite high. If this does take place, a lower low below $0.90 must be avoided.

https://cryptodaily.co.uk/2024/12/altcoins-start-to-wake-up-again-solana-sol-binance-coin-bnb-and-theta-network-theta-ready-to-run

Interested? Want to learn more about the community?
What else you may likeā€¦
Videos
Podcasts
Posts
Articles
šŸŒ Theta Welcomes JON Launch!

Theta is thrilled about the potential of JON devices for its distributed edge network!

šŸ”¹ AI Power Boost: While individual JONs handle smaller workloads than high-performance GPUs like H100s, their aggregation within EdgeCloud unlocks new possibilities.

šŸ”¹ Affordability: At just $249, JON devices become accessible to more users, expanding EdgeCloudā€™s reach. Compatibility investigations are already underway!

This signals exciting synergy between cost-effective AI devices and Theta's cutting-edge EdgeCloud platform. šŸš€

00:00:33
šŸ’µMoonPay CEO Ivan Soto-Wright shares why stablecoins are crypto’s “killer use case”šŸ’µ

RLUSD Spotlight: MoonPay CEO Ivan Soto-Wright shares why stablecoins are cryptoā€™s ā€œkiller use caseā€ and how $RLUSD unlocks new opportunities for users worldwide.

00:01:09
Algorand: Proof of State | AlgoRun provides 1-click node running

Decentralization of the Algorand network is important to the vitality of the ecosystem. AlgoRun was recently introduced to enable one-click node operation of a network node capable of participating in consensus. Using AlgoRun, the Algorand Foundation hopes to lower the technical barriers to running a node, thereby enabling a more robust network.

Want to run an Algorand node?
https://developer.algorand.org/docs/run-a-node/setup/types/

00:35:45
šŸ‘‰ Coinbase just launched an AI agent for Crypto Trading

Custom AI assistants that print money in your sleep? šŸ”œ

The future of Crypto x AI is about to go crazy.

šŸ‘‰ Hereā€™s what you need to know:

šŸ’  'Based Agent' enables creation of custom AI agents
šŸ’  Users set up personalized agents in < 3 minutes
šŸ’  Equipped w/ crypto wallet and on-chain functions
šŸ’  Capable of completing trades, swaps, and staking
šŸ’  Integrates with Coinbaseā€™s SDK, OpenAI, & Replit

šŸ‘‰ What this means for the future of Crypto:

1. Open Access: Democratized access to advanced trading
2. Automated Txns: Complex trades + streamlined on-chain activity
3. AI Dominance: Est ~80% of crypto šŸ‘‰txns done by AI agents by 2025

šŸšØ I personally wouldn't bet against Brian Armstrong and Jesse Pollak.

šŸ‘‰ Coinbase just launched an AI agent for Crypto Trading
6 Best Altcoins To Watch šŸ‘€ – Theta Network, IOTA, Tezos, Uniswap šŸš€ šŸ“ˆ

Based on projections, 2025 could mark an extremely bullish era for AI solutions and Bitcoin. An analyst who shared data on the ARC-AGI semi-private v1 score and the BlackRock iShares ETF AUM illustrated how the assets have performed historically while also projecting what will come in 2025.

According to the shared data, 2024 is the breakout year for ARC-AGI, positioning the metric for a vertical surge in the coming months. In light of the positive crypto market wave, this article outlined other affordable tokens, particularly the best altcoins to watch today.

šŸ‘‰ 6 Best Altcoins To Watch Today

Theta Token (THETA) is currently valued at $2.23, reflecting a 19.81% rise over the past 24 hours. Lido DAOā€™s token (LDO) has also performed well, reaching $1.75 after a 13.24% gain within the same period. Following the communityā€™s approval of the IOTA Rebased protocol upgrade, IOTA is expected to undergo major technological and token economy advancements. Meanwhile, Tezos (XTZ) is trading at $1.32, recording a 15.02% increase over the last ...

šŸ”„Theta Network's LavitaAI Webinar šŸ”„

Welcome to the LavitaAI webinar, where we're excited to explore the future of artificial intelligence in the Desci ecosystem.

Today, we're joined by Ali from LavitaAI, a pioneering company that's pushing the boundaries of what's possible with AI in DeSCI. As we navigate the ever-changing landscape of decentralized science and medical , AI is emerging as a game-changer. AI is transforming the way we create, consume, and interact with everything medical. LavitaAI is at the forefront of this revolution, harnessing the power of AI to drive innovation and growth in the industry.

With their cutting-edge technology and expertise, they're helping unlock new revenue streams, improve efficiency, and create unforgettable experiences for Doctors and Medical industries worldwide.

In this webinar, we'll delve into the latest advancements in AI and explore how LavitaAI is revolutionizing the industry. From AI-generated content to predictive analytics, we'll discuss the most exciting applications of AI ...

[RFC] Deploy Uniswap V3 on Sonic (formerly Fantom)

Overview:

This proposal advocates for deploying Uniswap V3 on Sonic (formerly known as Fantom Opera). All of the Uni V3 contracts have already been deployed on Sonic and no further actions need to be taken by the DAO.

About:

Sonic is an EVM layer-1 blockchain platform focused on delivering exceptional performance, enabling developers to scale their applications without limits while ensuring smooth user experiences with benefits such as:

ā— Bridge from Ethereum - Sonic Gateway
ā— 10,000 Transactions per Second
ā— Sub-Second Finality
ā— Fee Monetisation
ā— 100% EVM Compatible
ā— Solidity/Vyper Support

Key Benefits of Deployment:

Scalability and Speed: Sonic boasts the ability to process 10,000 transactions per second (TPS) with sub-second transaction finality, ensuring fast and irreversible transactions. This makes it highly efficient for applications requiring high throughput and low latency.

Availability of key Infrastructure: Sonic labs has confirmed integration of key infrastructure partners such as ...

post photo preview
post photo preview
US IRS Insists to Tax Unrealized Profit from Crypto Staking

The US Internal Revenue Service (IRS) maintains that profits from crypto staking are taxable even before the participant cashes in on them.

The governmental parastatal has reiterated that crypto staking does not constitute a new property. As a result, crypto enthusiasts staking their assets should account fully for them and pay taxes upon staking.

AĀ BloombergĀ report on Tuesday stated the IRSā€™s stance in an ongoing legal proceeding between the agency and a US couple. For context, Joshua Jarret and his wife, Jessica Jarret, filed a lawsuit against the tax collectors in October, seeking to reform how the IRS views taxes on crypto staking.

Background of the IRS Tax Case

The years-long legal battle originated from an initial lawsuit against the IRS over a tax feud. The couple argued against the agencyā€™s stance on staking taxes and insisted that, like a farmerā€™s proceeds are only accounted for after harvest, rewards for staked cryptocurrencies should be taxable after the sales.

Notably, the IRS repaid the coupleā€™s overdraft tax of $4,000 for its 8,876 Tezos (XTZ) earnings in 2019. However, they pursue a greater course, seeking to establish a legal framework treating staked cryptocurrencies as new properties.

Although the court closed the case on the premise that Joshua and Jessica had received a refund, the couple filed a fresh lawsuit on the case two months ago. They asked for a refund of the $12,179 paid in tax for its 13,000 XTZ earnings.

Meanwhile, the IRS has maintained that crypto stakers should pay liability tax upon locking up their assets. The tax collectors cited the Revenue Ruling 202314 bill, which supports a tax imposition on staked assets as soon as their owners can sell, exchange, or dispose of them.

Revolving View of Cryptocurrency

Notably, views on cryptocurrency and its activities are evolving amidst a friendly global stance. In opposition to the IRSā€™s view that crypto is not property, legal entities in some other countries have started adopting digital assets as a prominent financial tool.

For context, an English High CourtĀ recognizedĀ Tether as property. The presiding judge noted that the stablecoin has all the qualities of a property, including tangibility, traceability, and usage.

Russiaā€™s President, Vladimir Putin, recentlyĀ signedĀ a similar treaty on digital assets. He also approved a bill recognizing cryptocurrencies as property and exempting them from value-added tax.

Meanwhile, cryptocurrencies continue to gain global traction. The sectorā€™s firstborn, Bitcoin, has become the subject of a broader adoptionĀ among countriesĀ as a strategic reserve asset.

Ā 

Link

Read full Article
post photo preview
Investment Advisors Set to Lead Bitcoin ETF Market
CF Benchmarks has revealed that investment advisors are poised to become the predominant force in the U.S. market for spotĀ BitcoinĀ (BTC) exchange-traded funds (ETFs). The 11 spot BTC ETFs, which were launched in January, have allowed investors to gain exposure to Bitcoin without needing direct ownership. Since their debut, these ETFs have amassed over $36 billion in total investments.
Ā 

Who Holds the ETF Market Now?

As of now, hedge fund managers dominate the ETF space, controlling 45.3% of the market. Investment advisors follow in second place with a 28% share. CF Benchmarks anticipates that by 2025, investment advisors will surpass the 50% mark in both Bitcoin and Ether (ETH) ETF markets.

What Trends Will Shape the Future?

According to CF Benchmarks, a UK-based index provider specializing in cryptocurrency indices, the adoption of these instruments by the expansive $88 trillion U.S. asset management sector is crucial for increasing advisorsā€™ market share. The firm notes that factors such as heightened consumer demand, the growing appeal of crypto assets, and maturing products will drive this shift.

Key insights from the report include:

  • By 2025, tokenized real-world assets could exceed $30 billion.
  • New stablecoin projects, likeĀ Rippleā€˜s RLUSD, may disrupt Tetherā€™s current market leadership.
  • The easing of Federal Reserve policies may elevate Bitcoinā€™s role as an inflation hedge.

The anticipated rise in investment advisorsā€™ participation in Bitcoin and Ether ETFs signifies a broader integration of crypto assets into traditional financial portfolios, potentially enhancing investor access and diversification strategies.

Link

Read full Article
post photo preview
Instant Finality - What makes Algorand stand among blockchains

Overview

Welcome back to our next comparison article onĀ Instant Finality. Iā€™m sure youā€™ve heard of this term when talking about Algorand but perhaps itā€™s not clear the full extent of what it provides to your project.

Many blockchains suffer from forking or block reorganization (reorgs) that require significant time to pass before the transaction can be considered final. This article discusses what instant finality is and how Algorand handles finalizing a transaction.

In a nutshell it means that each time you see a transaction in a block, it is already safe to consider it committed to the blockchain. This is a guarantee that is extremely hard to achieve without sacrificing on security, performance or decentralization but Algorand does just that.
Thanks to its unique consensus protocol, it guarantees Instant Finality without compromises!

Table of Content - Instant Finality

  • Forks & Finality Delay
  • Instant Finality
  • Tooling
  • Conclusion

Forks & Finality Delay

Ok so what happens usually in other blockchains and why isĀ FinalityĀ a big deal?
Finality is the moment in time when a transaction is considered immutable and irreversible. TheĀ Finality DelayĀ associated with it is the time between a transaction appearing in a block and Finality.

Blockchains, being the distributed systems they are, suffer from the same problems that affect other traditional distributed systems. The most notorious example is theĀ CAP theoremĀ which states that out ofĀ consistency;Ā availability, andĀ partition tolerance, any distributed system may only choose two. In reality this is more of a spectrum than a black & white design decision and each project chooses to prioritize some more than others while still providing good enough guarantees for all three.
(This concept is not to be confused with the Blockchain Trilemma which is just informal and relates to security, decentralization and performance)

As a consequence of this, most blockchains need a way to resolve network partitions. Network partitions usually refer to the physical layer of the network being unplugged which creates two (or more) sub-groups in place of a cohesive network. Aside from the traditional meaning, a partition in a blockchain network could also beĀ sub-groups sharing different ideas about the state of the chainĀ or the state of the pending transactions (aka the mempool).


If we want network tolerance the CAP theorem tells us that we shouldĀ implement a tradeoff with either consistency or availability. Indeed most blockchains allow the network to diverge into sub-groups which will be reconciled later. The network divergence is aĀ forkĀ and the reconciliation algorithm is aĀ fork resolution algorithm.

What this means concretely for your project is that you should write code that handles the possibility of the transaction being reverted. If you can just wait for true Finality, thatā€™s one strategy but thatā€™s not always possible because of real-time constraints and because some blockchains only offer aĀ probabilisticĀ delayed Finality.

Most approaches that deal with certainty and time are much more speculative than just waiting for true Finality. Some decide to take a statistical approach and study, based on past behavior, how much you should wait for 99.9% of transactions to not revert. Some others may go ahead and assume that a transaction will be final in the future and have a contingency plan ready for the event that it will not.

As an example, if you are tracking the value of your portfolio it might even be desirable to look at recent transactions that are not valid yet to monitor the most recent asset price. If you then decide to buy/sell at certain points according to your strategy, you should make sure that your order goes through (retrying it, upping the offered fees if need be, ā€¦).

A contingency plan in case of a fork is to drop the buy/sell order if prices revert to the beginning of the fork. In this diagram, it is represented the state of the chain if a price change happens in a different fork than the order that is sent in.

Itā€™s important to know that visibility over the number and type of active forks is, in some cases, severely limited. A fork may reach one node much later than it did for other nodes in the network.

Instant Finality

Now for a more concrete definition of Instant Finality: itā€™s Finality with a 0-seconds Finality Delay.

Note that we are not qualifying this further. Itā€™s not near-instant finality. Itā€™s not probabilistic instant finality. Itā€™s certainly not instant finality at the expense of decentralization or performance.
Each transaction that makes it into a new block, is instantly final becauseĀ Algorand does not fork.

The Pure Proof-of-Stake Algorand consensus protocol relies on VRF to select a representative sample of all the online accounts that will participate in each round. Each round is composed of three voting stages (and three independent juries):

  • Block proposal
    Each component of the first jury compiles its proposal for the new block based on its knowledge of the state of the chain and the messages that it has seen. This proposal is sent across the network
  • Soft vote
    A second jury deterministically selects a single proposal based on the hash of the proposed block
  • Certify vote
    The third, and final, jury checks the unique proposal for fraud

Since each jury is selected at random based on the stake of the participants, they keep each other in check forĀ honest behavior. The fact that the number of proposals is reduced until thereā€™s only one means that the honest network is not allowed to diverge.

(By the way, if you are interested in a technical dive into VRFs and how Algorand leverages then check outĀ this page)

In case of a dishonest network or physical network partitions, Algorand will enter recovery mode until a quorum of nodes agrees to resume block production again.
This design prioritizes consistency over availability.

Tooling

The advantage of developing with Instant Finality is that you canĀ react quicklyĀ to on-chain events.


Any transaction from a payment, to an Asset Transfer, to an application call to a financial or bringing protocol is an event that can be observed and acted upon with certainty that it will never be rolled back by the time the reaction takes place. It also means that off-chain systems can react instantaneously to events. For example, imagine monitoring the chain to detect DEX swaps and sending an arbitrage. Did you know that you can implement flash-loaned financial transactions easily with Algorand?

Check out thisĀ article on Flash Loans!

Algokit Subscriber

The Algorand Foundation is developing tools for TypeScript (Python soon) that implement a pub/sub pattern for clients connecting to nodes. This allows projects to easily receive irreversible and fast updates on the state of the chain.

This is a code snipped that allows you to monitor USDT events anywhere in the chain instantaneously:

Conclusion

Whether you think of Algorand as a decentralized database, a source of events, a platform for applications, etcā€¦ it shouldnā€™t change the fact that the products that you choose are available, fast, consistent, and coherent. Instant Finality is a feature that we take for granted in traditional systems but one that is rare in blockchains. Algorand solves this with a unique consensus protocol that prevents this problem from even happening.

Ā 

Link

Read full Article
See More
Available on mobile and TV devices
google store google store app store app store
google store google store app tv store app tv store amazon store amazon store roku store roku store
Powered by Locals