Macro guru and Real Vision CEO Raoul Pal is unveiling his crypto holdings, saying that his capital is geared toward capturing the potential rise of riskier digital assets. In an interview on the Crypto Banter YouTube channel, the former Goldman Sachs executive says that about 90% of his stash consists of crypto hedge funds, Solana […]
The post Former Goldman Sachs Executive Reveals Current ‘Max Risk’ Crypto Allocation, Says He Holds Solana Rival appeared first on The Daily Hodl.
A closely followed crypto strategist believes a red-hot altcoin project has more upside potential. Pseudonymous analyst Altcoin Sherpa tells his 206,900 followers on the social media platform X that the native token of modular blockchain Dymension (DYM) could soon revisit higher levels after a retracement. “DYM: closed all of this yesterday, not going to round […]
The post Trader Says Altcoin That’s Doubled in Less Than a Week Could Go Higher, Outlines Path Forward for Sui appeared first on The Daily Hodl.
A popular crypto trader is outlining three altcoins he thinks could surge higher in price than “older generation” digital assets during the ongoing market cycle. In a new YouTube video, Jason Pizzino tells his 309,000 subscribers that a good guideline for betting on altcoins is to avoid sinking money into projects from previous cycles. “When […]
The post Sui, Celestia and One More Crypto Asset To Pump Harder Than Older Generations of Altcoins: Jason Pizzino appeared first on The Daily Hodl.
A popular crypto trader thinks one nascent Ethereum (ETH) competitor could be on the cusp of a “considerable expansion upward.” The pseudonymous crypto analyst known as The Flow Horse calls attention to the layer-1 blockchain Sui Network (SUI). The mainnet of Sui Network went live in early May, and the SUI token kicked off trading […]
The post This Ethereum Competitor’s Potentially on the Cusp of ‘Considerable Expansion,’ Says Top Trader appeared first on The Daily Hodl.
A rival of the leading smart contract platform by volume is soaring as the protocol’s total value locked (TVL) hits a new all-time high. In a new announcement, Ethereum (ETH) competitor and layer-1 blockchain Sui Network (SUI) says that its TVL has surged by 500% during the last three months and a staggering 1350% during […]
The post Ethereum Rival Soars Over 40% in a Week As the Crypto Project’s Total Value Locked Hits Record High appeared first on The Daily Hodl.
Binance’s US arm is updating the way it lists crypto assets by giving traders advance notice when it is considering adding trading support for a new token. Binance.US says the new procedure aims to provide additional transparency to its listing process. The first asset the exchange is evaluating with the new process is the native […]
The post Binance.US Updates Crypto Listing Process, Says Exchange Considering Launching Trading Support for Aptos Rival appeared first on The Daily Hodl.
Sui joins the growing ranks of Web3 firms looking to onboard users who are all too often “irretrievably lost" at the doorstep of Web3.
Layer-one blockchain Sui Network has taken a step towards simplifying Web3 onboarding, allowing users to sign up for Sui-powered apps without having to manage an external crypto wallet or seed phrase.
In a Sept. 13 press release the Sui Foundation shared that users would be able to login into decentralized applications (DApps) by using Google, Facebook, and Twitch login details via a new zkLogin (Zero Knowledge login) feature.
Instead of dealing with pesky Web3 wallets, users can log in the same way they’re used to on other areas of the internet.
“By enabling users to access dApps with the social logins they have grown comfortable using, zkLogin removes a major hurdle for bringing the benefits of blockchain-based applications to billions of mainstream users,” said Sui Foundation managing director, Greg Siourounis.
Onboarding has long been a pain point for the blockchain industry, with users both new and experienced, complaining of a wide range usability issues — including the need to sign for transactions, maintain seed phrases and provide long strings of incomprehensible information to use certain DApps.
In a statement Adeniyi Abiodun, the co-founder and CPO of Mysten Labs, made note of this concern.
“Too many individuals – whose everyday lives would benefit from blockchain technologies – are irretrievably lost at our doorstep, frustrated at installing web3 wallets and managing seed phrases.”
The Sui Foundation explained that the zkLogin feature allows users to benefit from the privacy and ownership preserving features of blockchain-based applications without having to sacrifice on security.
Zero knowledge proof technology works by allowing one party to prove the truth of a certain assertion without revealing any information beyond the simple fact that the assertion is in fact true.
However, the Sui Foundation hasn’ been alone in breaking down the barriers to wider Web3 adoption.
On Aug. 28 cryptocurrency exchange DYOR announced that it was developing a social media-like application for users to interact with the decentralized finance (DeFi) market in a bid to lower the usability barrier of what’s often regarded as a complex facet of crypto markets.
Similarly, a new Web3 gaming company called Moxy has been attempting to onboard gamers into the Web3 world, by leveraging a slightly different approach to blockchain gaming. Instead of utilizing play-to-earn economics, Moxy has created a competition-based esports platform where players can bet against each other and earn cryptocurrency.
Another major shift in onboarding has been the rise of Telegram trading bots such as Unibot and BananaGun, allowing traders to snipe new tokens and hunt airdrops from within the Telegram application.
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Launched in October, Sui 8192 is a fully-on-chain tile-sliding puzzle game that records each move as a transaction on the Sui Network.
A simple blockchain game has been behind a massive spike in daily transactions on the Sui Network, with one data platform even suggesting it has surpassed Solana in network activity.
Similar to the 2014 viral browser-based puzzle game 2048, Sui 8192 is a sliding tile game where the players use their arrow keys to shift and combine tiles until they reach a tile worth 8192. It was first launched in October 2022.
Each instance of the game mints a new object, similar to minting an NFT, and each move in the game is recorded as a transaction and thus requires a gas fee payment, according to a July 10 blog post from the Sui Foundation.
Haha! Finallyyyy!!!! #sui 8192 @EthosWalletXYZ I got it. pic.twitter.com/xzau7SO0Fv
— hagoyyds.bnb (@hagoyyds) July 16, 2023
The game was built by Sui wallet provider Ethos Wallet as the first wholly on-chain Sui game. It is open-sourced and was intended to serve as an example of how apps could evolve on the Sui blockchain.
A recent Twitter post from on-chain analytics provider Artemis even suggests the game has helped the Sui Network to surpass Solana in daily transactions.
Artemis data shows Sui Network’s transaction count recently surpassed 20 million, exceeding Solana’s 16 million daily transactions — though it admitted it used a different methodology to calculate daily transactions for the Sui Network.
This is because Artemis counts transaction blocks for Sui instead of transactions when comparing with Ethereum and other chains, it said.
Getting a lot of questions on the @SuiNetwork transaction spike
— Artemis (@Artemis__xyz) July 16, 2023
tl;dr: it's real pic.twitter.com/BsLqaVbnfU
Meanwhile, an initiative called Bullshark Quests by Mysten Labs has also been seen as driving momentum on Sui. For the next few weeks, Bullshark holders can compete for rewards based on their engagement with various Sui games such as Sui 8192, according to Mysten Labs.
Related: Optimism network transactions surged 67% following Bedrock upgrade
Players can earn rewards in SUI tokens by competing with other players and completing tasks and activities, with 5 million tokens put up as rewards from the Sui Foundation.
Just learned that the significant increase in $SUI transactions is due to a game called 8192 built by @EthosWalletXYZ.
— Paddy the Pirate (@StPaddyPirate) July 10, 2023
Looks to be part of an incentive campaign from @Mysten_Labs: https://t.co/CiBqCDqovd https://t.co/9aeube1mNg pic.twitter.com/7rj8K5GdOq
Sui is a layer-1 blockchain launched in May 2023 and touted at the time as a “Solana killer.”
SUI prices were down 0.5% on the day at $0.678 at the time of writing.
Cointelegraph reached out to Solana for their take on the daily transaction data but did not receive an immediate response.
Collect this article as an NFT to preserve this moment in history and show your support for independent journalism in the crypto space.
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Blockchain security firm CertiK is receiving a big reward for discovering a major security threat to the layer-1 blockchain project Sui Network (SUI). According to a new press release, Sui is giving CertiK a $500,000 reward for identifying the threat codenamed “HamsterWheel,” which could have crippled the entire blockchain network. “Differing from traditional attacks that […]
The post Blockchain Security Firm Collects $500,000 Bug Bounty for Finding Threat That Could Have Crippled Sui Network appeared first on The Daily Hodl.
Coinbase customers can now buy and sell Sui Network (SUI), the token of a newly launched layer-1 blockchain. The mainnet of Sui Network went live in early May, and the project has a total supply of 10 billion SUI tokens, but only 5.28% of those tokens are available for retail trading. The Aptos (APT) competitor […]
The post Newly Launched Aptos (APT) Rival Officially Kicks Off Trading Under Coinbase’s Experimental Label appeared first on The Daily Hodl.
