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MultiversX (EGLD) Continues To Lead All Crypto Gaming Projects in Level of Development Activity: Santiment

MultiversX (EGLD) Continues To Lead All Crypto Gaming Projects in Level of Development Activity: Santiment

The layer-1 blockchain MultiversX (EGLD) continues to lead the digital asset gaming sector in terms of development activity, according to the crypto analytics firm Santiment. Santiment notes in a new post on the social media platform X that MultiversX, formerly known as Elrond, registered 264.9 notable GitHub events in the past 30 days. MultiversX is […]

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MultiversX (EGLD) Clocks More Development Activity Than Any Other Crypto Gaming Project: Santiment

MultiversX (EGLD) Clocks More Development Activity Than Any Other Crypto Gaming Project: Santiment

The layer-1 blockchain MultiversX (EGLD) is dominating the crypto gaming sector in terms of development activity, according to the analytics firm Santiment. Santiment notes that MultiversX, formerly known as Elrond, registered 228.73 notable GitHub events in the past 30 days. The Ethereum (ETH)-based virtual reality platform Decentraland (MANA) was second, clocking 195.03 events. Wrapped Nine […]

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Ye’s Crypto Coup: Did Kanye Sell His X Account to Meme Coin Influencers?

MultiversX and Cornell launch sponsored blockchain education program

Once students complete the course, they’ll be eligible for follow-on mentorship, support and funding.

Distributed blockchain network MultiversX recently announced the launch of a sponsored blockchain education initiative in partnership with Cornell University’s eCornell.

Called the Blockchain Essentials Program, the new initiative will offer 100 underserved college students the opportunity to participate in a two-month learning experience which, upon successful completion, will award a certificate.

Per a press release from MultiversX, the program is sponsored so students will accrue no fees for their participation. A website for the initiative indicates that the normal cost of the course is $3,750.

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Ye’s Crypto Coup: Did Kanye Sell His X Account to Meme Coin Influencers?

Layer-1 Blockchain Network Passes Decentraland To Become Crypto’s Top Gaming Project for Development: Santiment

Layer-1 Blockchain Network Passes Decentraland To Become Crypto’s Top Gaming Project for Development: Santiment

A layer-1 blockchain passed the Ethereum (ETH)-based virtual reality platform Decentraland (MANA) to become the top crypto gaming project in terms of development activity, according to the analytics platform Santiment. Santiment notes that MultiversX (EGLD), formerly known as Elrond, registered 236.93 notable GitHub events, compared to 150.4 events for Decentraland. The non-fungible token (NFT) layer-2 […]

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Ye’s Crypto Coup: Did Kanye Sell His X Account to Meme Coin Influencers?

Bitcoin’s 8-week win streak is in danger, but ATOM, FIL, EGLD, and ALGO don’t care

Bitcoin is set to break its eight-week winning streak, but that has not affected the prospects of ATOM, FIL, EGLD, and ALGO, which look strong on the charts.

Bitcoin’s (BTC) eight-week winning streak is likely to end as the price is down nearly 4% this week. The recent weakness indicates profit-booking by traders but it does not change the short-term uptrend. The pullback will also help reduce the froth that may have been building.

After the initial shakeout, strong hands are likely to re-enter the crypto market as the macro environment remains bullish for risk-assets. The decision by the Federal Reserve to pause rate hikes and possibly reduce rates in 2024 could further boost demand for crypto products.

However, nothing goes up in a straight line. After sharp rallies, traders generally book profits and shift their focus to other coins. As Bitcoin takes a breather, traders' are likely to turn their attention to select altcoins.

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MultiversX launches on-chain two-factor authentication standard

Blockchain protocol MultiversX has implemented a novel two-factor authentication mechanism to add additional security to its network.

Two-factor authentication (2FA) is a tried and tested online security measure, and the technology is now being used as an additional transaction signing measure on MultiversX’s blockchain protocol.

MultiversX CEO Beniamin Mincu unpacked the protocol’s new guardian service in conversation with Cointelegraph. The feature makes use of Google Authenticator, Authy, Duo, Microsoft Authenticator or biometrics to provide a second signature for transactions before they are processed on-chain.

Mincu outlines the novelty of the approach, which allows users to make use of guarded transactions and accounts to act as a secondary security mechanism:

“What the chain sees is a guarded account, if it has the feature activated, and for that account, it requires that any outgoing transaction carry two signatures, one from the account owner and the second one from the guardian, through a guarded transaction.”

The guardian service requires users to create a guardian address to provide 2FA-controlled signatures. Part of the sign-up process sees the wallet prompt the user to finalize the registration by issuing a transaction to the MultiversX network, which will set the service-generated address as a guardian for their account.

After an account becomes guarded on-chain, transactions issued by the user require both the user’s and the guardian’s signatures. A valid guardian signature for the user transaction will be provided by the guardian service whenever a user that has a guarded account sends a transaction from their wallet and provides a valid 2FA code.

Related: The danger with Google’s new cloud backup for 2FA authenticator

While 2FA does not strictly take place on-chain, transactions require authentication codes to be executed. Mincu added that the approach to 2FA protection embedded in the protocol is yet to be carried out by other protocols.

“As opposed to existing solutions that provide extra protection for wallet accounts, Guardians don’t require storing more private keys and don’t add additional fragility to the backup scheme, which are important tradeoffs and barriers for users.”

Many cryptocurrency wallets and exchange services tap into 2FA as an added measure to confirm logins and user transactions at an application level. However, Mincu believes the fundamental principles behind the MultiversX guardian approach are possible on other blockchain protocols:

“The concept of using a device-based authenticator to enable 2FA protection could certainly cause a paradigm shift within our industry.”

Mincu added that additional security should not come at a cost to user experience and should be aimed at adding minimal friction to transaction signing.

Two-factor authentication has been part and parcel of the cryptocurrency space for years, with exchanges like Kraken making the added security measure mandatory for its users in 2019 to secure logins attempts.

Magazine: Experts want to give AI human ‘souls’ so they don’t kill us all

Ye’s Crypto Coup: Did Kanye Sell His X Account to Meme Coin Influencers?

THETA, LIDO, KLAY and EGLD flash bullish signs as Bitcoin recaptures $23K

BTC price is chasing after $24,000 again, raising the possibility of LDO, EGLD, THETA and KLAY targeting new year-to-date highs.

The cryptocurrency markets and the United States equities markets witnessed profit-booking this week as the macroeconomic data hinted toward continued rate hikes by the Federal Reserve. Bitcoin (BTC) is down more than 4% and the S&P 500 fell 2.7% to record its worst week of the year. 

The CME FedWatch Tool shows a 73% probability of a 25 basis points rate hike by the Fed in the March meeting but after the hotter-than-expected inflation readings in two weeks, the probability of a 50 basis point rate hike has started to slowly gain traction.

Crypto market data daily view. Source: Coin360

During periods of uncertainty, some coins enter a deeper correction while a few buck the trend and continue to outperform the markets. Hence, it becomes important to select the right coins to trade.

A few coins that have witnessed a shallow correction or have bounced sharply off the support have been selected in this list. Let’s see their charts and determine the levels to watch out for.

BTC/USDT

Bitcoin plunged below the 20-day exponential moving average ($23,391) on Feb. 24 but the bears could not build upon this advantage and sustain the price below the strong support at $22,800.

BTC/USDT daily chart. Source: TradingView

The price bounced off $22,800 on Feb. 25 and the bulls are trying to push the price above the 20-day EMA. If they manage to do that, it will indicate that the BTC/USDT pair may consolidate between $25,250 and $22,800 for a few days.

The flattening 20-day EMA and the relative strength index (RSI) near the midpoint also suggest a range-bound action in the near term.

Alternatively, if the price slips below $22,700, the selling could intensify and the pair may plummet to the next strong support at $21,480.

BTC/USDT 4-hour chart. Source: TradingView

The 20-EMA has turned down on the 4-hour chart and the RSI is in the negative territory. This indicates an advantage to the bears. Sellers will try to protect the 20-EMA and if the price turns down from this level, the likelihood of a break below $22,800 increases. If that happens, the selling may intensify and the pair may slide to $21,480.

On the contrary, if the price breaks above the 20-EMA, it will suggest that bulls are buying on dips. That could push the pair to the 50-simple moving average and keep the price stuck inside the range for some more time.

LDO/USDT

Lido DAO (LDO) did not sustain below the 20-day EMA ($2.75) during the recent correction, which is a positive sign. Another bullish sign is the formation of the pennant near the local highs.

LDO/USDT daily chart. Source: TradingView

The bulls will try to propel the price above the resistance line of the pennant. If they succeed, the LDO/USDT pair could start the next leg of the up-move. The pair may first rise to $3.90 and thereafter attempt a rally to $4.24.

Conversely, if the price turns down from the resistance line, it will suggest that bears are selling on rallies. That could keep the price inside the pennant for a while longer. The bears will have to sink the price below the pennant if they want to signal a short-term trend reversal.

LDO/USDT 4-hour chart. Source: TradingView

The strong bounce off the support line of the pennant indicates aggressive buying on dips. Buyers will have to overcome the obstacle at the resistance line to regain control. If they do that, the pair may resume its uptrend.

However, the bears are likely to have other plans as they will try to protect the resistance line. If the price turns down from this level, the state of equilibrium may continue for some more time.

A break below the pennant could attract profit-booking by short-term traders. That may tug the price to $2.20 and later to $2.

EGLD/USDT

MultiversX (EGLD) turned down from the resistance line but an encouraging sign is that the bulls are trying to defend the 20-day EMA ($47).

EGLD/USDT daily chart. Source: TradingView

Both moving averages are sloping up and the RSI is above 54, indicating that buyers have a slight edge. The bulls will try to push the price toward the resistance line where they are again likely to face strong opposition from the bears.

This bullish view could invalidate in the near term if the price turns down and plummets below the 20-day EMA. That will indicate selling by the bears on every minor rally. The EGLD/USDT pair could then tumble to the 50-day SMA ($44) and later to $40.

EGLD/USDT 4-hour chart. Source: TradingView

The 4-hour chart shows that the price is falling inside a descending channel pattern. Buyers purchased at lower levels and have pushed the price to the resistance line of the channel. If this resistance gives way, the pair could rise to the 50-SMA and thereafter attempt a retest of the strong barrier at $54.

Contrarily, if the price turns down from the resistance line, it will suggest that the bears have not given up. That could result in a drop toward the support line of the channel.

Related: How does the U.S. Dollar Index (DXY) impact cryptocurrencies? Watch Macro Markets

THETA/USDT

The bulls are trying to arrest Theta Network’s (THETA) pullback at the 20-day EMA ($1.15). Both moving averages are sloping up and the RSI is in the positive territory, indicating advantage to the bulls.

THETA/USDT daily chart. Source: TradingView

If buyers thrust the price above the downtrend line, the THETA/USDT pair could climb to the overhead resistance at $1.34. This is a formidable resistance and a break above it could open the gates for a possible surge to $1.70.

Instead, if the price turns down and plunges below the 20-day EMA, it will suggest that the short-term bulls may be rushing to the exit. That may start a deeper correction to the 50-day SMA ($1.05) and then to the psychological support at $1.

THETA/USDT 4-hour chart. Source: TradingView

The 4-hour chart shows the formation of a symmetrical triangle pattern. Both moving averages have flattened out and the RSI is oscillating near the center, indicating a balance between supply and demand.

A break below the triangle could tilt the short-term advantage in favor of the bears. The pair could first fall to $1.12 and then to $1.

If bulls want to prevent the decline, they will have to quickly propel the price above the triangle. That could start a journey to $1.27 and later to $1.30.

KLAY/USDT

Klaytn (KLAY) is attempting to break out from a basing pattern. The price rebounded off the 20-day EMA ($0.26) on Feb. 25, indicating solid buying on dips.

KLAY/USDT daily chart. Source: TradingView

The bulls will try to pierce the overhead resistance at $0.34. If they do that, the KLAY/USDT pair could pick up momentum and soar to the psychological resistance at $0.50. Such a move will signal a potential trend change.

If the price turns down from $0.34, it will indicate that bears are fiercely protecting the level. That could again pull the price down to the 20-day EMA. A break below this level could indicate that the pair may spend some more time in the basing pattern.

KLAY/USDT 4-hour chart. Source: TradingView

The bulls arrested the pullback near the 61.8% Fibonacci retracement of $0.26 and started a recovery. There is a minor resistance at $0.32 but if this level is crossed, the pair could attempt a rally to $0.34 and thereafter to $0.37.

On the other hand, if the price turns down from the overhead resistance, it will suggest that bears are selling on rallies. That may enhance the prospects of a break below $0.26. If that happens, the pair may slide to $0.22.

The views, thoughts and opinions expressed here are the authors’ alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Ye’s Crypto Coup: Did Kanye Sell His X Account to Meme Coin Influencers?

Crypto Exchange Coinbase Adds Surprise Support for Metaverse Altcoin Project

Crypto Exchange Coinbase Adds Surprise Support for Metaverse Altcoin Project

The largest US crypto exchange by trading volume is adding a metaverse altcoin to its list of supported crypto assets. Coinbase Assets is announcing that trading for the native token of the MultiversX (EGLD) blockchain will debut on its platform starting December 7th once liquidity conditions are met. “Coinbase will add support for MultiversX (Previously […]

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Ye’s Crypto Coup: Did Kanye Sell His X Account to Meme Coin Influencers?