Schlagwort: crypto business

• Solana developers target TX bug fix, with a patch expected on April 15.
• Helius Labs CEO says issues are a result of “an implementation bug, not design flaw.”

Solana developers are reportedly targeting April 15 as the date to implement a fix on transaction issues that recently plagued the blockchain network.

This comes after Solana’s explosive meme coins ecosystem came with a remarkable surge in activity. A pike for the likes of dogwifhat helped push SOL price higher. But the increased volume also came with a surge in volume that impacted network performance.

It’s an implementation bug, not design flaw

Commenting on the recent issues, Mert Mumtaz, CEO of Helius Labs, noted in a post on X that these are more about an “implementation bug” that a “design flaw.”

“It is important to make this distinction because implementation errors are usually trivial (they can be swapped out for other implementations) — but design errors are generally serious and more fundamental,” the Helius Labs CEO pointed out on X.

According to Mumtaz, the expected date for the patch is April 15. However, if other issues arise, the fix could be delayed, he added.

Solana is a top blockchain platform in the burgeoning DeFi and NFT ecosystem, with network efficiency and low transaction fees key features.

However, it has faced multiple network issues, including outages. Recently, the network saw a reported 75% rate of failed transactions.

While that ratio has significantly reduced to around 58%, Solana developers are looking for a fix.

“Solana is using a networking protocol called QUIC. An implementation of that protocol has certain deficiencies and bugs right now,” the developer noted.

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• NEO price soared more than 40% to hit a two-year high above $22.
• Toncoin extended gains seen on Monday as price discovery drove TON to a new all-time high.

The crypto market recorded a decent bounce on Monday, with Bitcoin price hitting highs above $72,000 to buoy multiple altcoins. Toncoin and NEO are some of the top performers in the past 24 hours. Here is a brief price outlook for TON and NEO.

Both altcoins are extremely bullish as analysts share predictions for BTC ahead of Bitcoin halving.

Toncoin price prediction as TON extends gains

Toncoin (TON) is one of the coins to surge amid the BTC bounce. As highlighted yesterday, Toncoin price rose to a new all-time high as fresh bullish momentum hit the crypto space.

Read more: Toncoin (TON) price hits a new all-time high

TON has extended its gains to a new all-time high of $6.96, with price up more than 23% in the past 24 hours. Toncoin’s trading volume has increased more than 600% in this period, reaching over $843 million at the time of writing.

Toncoin price chart

A look at the daily chart shows the Toncoin token price is above the 50-day exponential moving average. RSI and MACD indicators also suggest bulls have an upper hand.

With price in discovery mode amid overall bullishness for the coming months, it is possible TON price could target $10 and possibly higher.

On the downside, bulls may have immediate support around $6.34 and a robust demand reload zone around $5.00

NEO price prediction: What next after 40% surge?

The price of NEO spiked more than 40% on April 8, surging as to highs of $22.46. This saw NEO reach a two-year high, with prices at levels last in April 2022.

Gains also extended NEO’s upside above the tough hurdle around $18.15. The upswing brings the recent resistance zone at $16.93 into play as a potential reload zone for buyers.

NEO price chart

On the upside, NEO could retest prices at March 31, 2022 highs of $29.63. A bullish flip could catapult NEO/USD to November 2021 highs of $41.49.

Currently, NEO is trending around $21.06 as some traders take profits. While the paring of gains could increase with a dip below $20.00, its likely bulls remain in control. The daily RSI and MACD indicators suggest this scenario.

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• BlackRock’s spot Bitcoin ETF (IBIT) is near $20 billion in assets, currently in top 3% among all ETFs.
• IBIT and FBTC have recorded 59 days of inflows – a streak that puts the two among top 20 ETFs.
• Meanwhile, Bitcoin price could hit a new all-time high amid spot ETF and halving sentiment.

BlackRock’s spot Bitcoin ETF (IBIT) continues to outshine peers as inflows surge.

Data also shows that IBIT is not just in the top 20 in terms of longest consecutive streak of inflows, but its also climbing the ranks for total assets.

Bloomberg ETF analyst Eric Balchunas shared these details on Monday. He noted that BlackRock’s spot Bitcoin ETF has inched to within the top 3% among all ETFs for total assets held.

According to the analyst, IBIT is closer to hitting the $20 billion mark in assets, a feat that could coincide with a new all-time high for Bitcoin.

BlackRock’s IBIT leads peers

BlackRock, the world’s leading asset manager recently updated its list of Authorised Participants (APs) to include banking and investment giants Goldman Sachs, Citigroup, Citadel and UBS among others.

As at the time of his post on X, IBIT assets under management totaled $18.96 billion and ranked 88th overall.

It means the new spot Bitcoin ETF currently sits above some of the oldest ETFs in the market. Those IBIT has surpassed include the iShares MSCI Emerging Markets ETF (EEM), the VanEck Semiconductor ETF (SMH), the iShares MSCI Japan ETF (EWJ), and the iShares TIPS Bond ETF (TIP).

$IBIT is nearing $20b in assets, curr 88th spot among all ETFs, which puts it in Top 3%. It just passed a bunch of veterans incl $EEM, $EWJ, $SMH and $TIP pic.twitter.com/IgmuHpFlKb

— Eric Balchunas (@EricBalchunas) April 8, 2024

Earlier in the day, Balchunas had noted that BlackRock’s IBIT and Fidelity’s FBTC ETFs “have now taken cash for 59 straight days.”

That means the two ETFs are trending in the top 20 all-time charts, the hot streak putting these ETFs in a league of their own compared to other newly launched ETFs or those on an active streak.

MOVIN ON UP: $IBIT and $FBTC have now taken cash for 59 straight days and are now in the Top 20 all-time. (That said they in league of own when it comes to active streaks or streaks for newborns) via ⁦@thetrinianalyst⁩ pic.twitter.com/3cdYorXjOT

— Eric Balchunas (@EricBalchunas) April 8, 2024

Bitcoin price eyeing new all-time high

The ongoing pace for spot Bitcoin ETFs, which the US Securities and Exchange Commission (SEC) approved in January this year, has helped push Bitcoin price higher.

On Monday, BTC rose to above $72,600. Although its trading around $71,900 at the time of writing, bullish sentiment could see the benchmark crypto hit a new all-time above the peak reached in mid-March.

According to data from CoinGecko, Bitcoin’s current all-time high of $73,737 was reached on March 14, 2024. Analysts predict a post-halving explosion for Bitcoin price. 

 

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• Toncoin (TON) price rose more than 17% to hit a new all-time high
• TON reached highs of $6.27 on Monday as Bitcoin jumped above $72,000.
• Can TON hit $10 this week?

Toncoin (TON) is one of the altcoins to post huge gains on Monday as the cryptocurrency market savoured Bitcoin’s swift surge to above $72,000.

The TON token rose more than 17% in 24 hours to hit a new all-time high of $6.26. Data from CoinGecko shows the price of Toncoin is up more than 120% in the past 30 days.

Today’s upside followed Bitcoin’s uptick that unsurprisingly lifted most altcoins, including Ethereum that traded to above $3,600 for the first time in two weeks.

As the altcoin market heats up for a potential vertical push, investors confident in what’s driving TON price higher are eyeing greater returns. In the past 24 hours, this outlook has seen Toncoin’s trading volume reach $433 million, an increase of more than 243%.

TON’s market cap has as a result of the spike in activity increased to $21.62 billion. Toncoin is just behind Cardano (ADA) in terms of market capitalization at the time of writing.

According to CoinGecko data, 10th-ranked Cardano is currently at $21.64 billion.

Another upward roar for TON bulls could see the cryptocurrency flip Cardano as it enters the top 10 cryptocurrencies by market cap. TON in price discovery could surge to the psychological $10 mark.

Why is TON price up today?

While Toncoin has rallied amid the broader bullish sentiment in the crypto market, a number of catalysts have helped push TON higher in recent weeks.

Among these factors have been Telegram’s launch of a revenue system for channel owners, with the ad sharing payouts in TON. The Ton Foundation also unveiled a rewards program offering up to $115 million to the community.

The TON token also surged amid sentiment around Telegram’s IPO.

This week’s gains come as Toncoin developers and contributors announced plans to distribute 1 million TON to participants in a new initiative.

As TON blockchain shared via X on Monday, a digital identity (ID) project is in place and voluntary participants will benefit from the giveaway in the next five years.

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• This strategic initiative aims to expand Laos’ Digital Gold user base.
• Solana will act as the blockchain settlement layer.
• Velo will be responsible for securely validating transactions.

Velo and the Solana Foundation have signed a Memorandum of Understanding (MOU) to establish a clearing house for transactions related to Laos’ Digital Gold.

Under the signed agreement, Solana will act as the blockchain settlement layer, while Velo will serve as both the backbone infrastructure layer and the designated clearing house.

Velo’s role involves validating transactions securely, upholding trust, and ensuring the smooth execution of contractual obligations.

The MOU also includes plans to enhance interoperability between Solana’s L1, Nova, and EVM-compatible chains, promoting connectivity and accessibility across different blockchain networks.

Furthermore, the partnership entails implementing liquidity management protocols, including on-ramp and off-ramp facilities for assets on the Solana blockchain. These protocols will initially be rolled out in Southeast Asia before expanding globally.

Velo Labs’ web3 financial solutions

Velo Labs, a global pioneer in Web3-based financial solutions, offers a liquidity and settlement network for secure value transfers.

With backing from Stellar Network and CP Group, Velo Labs serves partners worldwide, connecting traditional banking infrastructure with Web3.

Their product range, including Orbit, caters to individuals, merchants, corporations, and enterprises worldwide, focusing on global financial connectivity and accessibility.

The collaboration between Velo and Solana Foundation, the firm behind Solana (SOL) cryptocurrency, represents a significant advancement in the realm of digital asset transactions, aiming to meet the rising demand for cross-chain transactions and contribute to the growth of the Web3 ecosystem.

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