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Binance CEO, Zhao Changpeng, has offered an optimistic view following a recent cryptocurrency-focused broadcast by China Central Television (CCTV). (Read More)
It is imperative to ensure the foundation of Bitcoin is built with great care and diligence. Every change should be made with extreme caution.
Explaining the controversy around Bitcoin’s BIP 119 (CTV) proposal and debunking some myths that in part fueled it.
UASF versus URSF is one mechanism for proposed changes to Bitcoin’s code. This should be the way changes to Bitcoin are decided and implemented.
There are many differing opinions about BIP119. This Twitter Spaces conversation aims to clear up some of the confusion and offer explanations.
In Bitcoin, it is nearly impossible to find out how much support there is for a proposal without trying it. CTV is a non-invasive change and should be accepted.
BIP119, which adds limited covenants to Bitcoin, is the current conversation and many people question if Speedy Trial for Taproot was a good precedent.
Chainlink (LINK) is currently on an uptrend, with the bulls showing much dominance in today’s market. According to data from CoinMarketCap, LINK is up by 16.94% in the last 24 hours, emerging as one of the biggest daily gainers in the crypto market. What’s Driving LINK’s Price Today? According to the on-chain analytics platform Lookonchain, LINK’s price gain appears to have been triggered by some recent whale activity. Lookonchain reports that two whale addresses, “0xc212” and “0x86bd,” which they suspect belong to the same person, purchased $6 million worth of LINK in the early hours of Thursday. 2 whales (probably the same person) bought a total of 788,877 $LINK ($6 million) for $7.62 just now. The whale swapped all 3,074 $stETH ($5.87M) and 71 $ETH ($136K) for 788,877 $LINK. This purchase increased the price of $LINK by 6.5%. pic.twitter.com/ajLBP8Vesz — Lookonchain (@lookonchain) July 20, 2023 The transaction was made by both whale addresses swapping a total of 3,074 stETH, valued at $5.87 million, and 71 ETH, valued at $136,000, for 788,877 LINK tokens. Related Reading: Solana (SOL) Continues To Shine With Over 20% Surge – What’s Next? Lookonchain noted that this whale movement immediately boosted LINK’s price by 6.5%, and the token appears to have been on an uptrend since then. Interestingly, Lookonchain has also reported two more whale transactions on the Chainlink network in the last hour. The analytics platform notes that the whales with the wallet address “0x0fAC” and “0x67c8” have just purchased a total of 227,281 LINK tokens valued at $1.82 million. 2 more whales also bought a total of 227,281 $LINK ($1.82M) in the past hour. Whale”0x0fAC” swapped 500 $rETH ($1.03M) and 151.6 $stETH ($290K) for 161,558 $LINK just now. Whale”0x67c8″ borrowed 500K $USDC from#Aave and bought 65,723 $LINK 1 hour ago.https://t.co/pRCcK2tQAa pic.twitter.com/fyK3U6pH9U — Lookonchain (@lookonchain) July 20, 2023 For now, there is no clear motive behind these whale transactions. However, LINK investors are advised to monitor the next move of these whales due to the possible effects on the market. Chainlink has been one of the major blockchain projects in the news this week following the launch of its Cross-Chain Interoperability Protocol (CCIP) on July 17. According to a blog post by the project’s management team, the CCIP protocol is expected to be accessible to developers on various testnets starting from July 20. These testnets include Arbitrim Goerli, Avalanche Fuji, Ethereum Sepolia, Optimism Goerli, and Polygon Mumbai. LINK Price Analysis And Prediction Analyzing the daily LINK chart, the Relative Strength Index shows the token has entered the overbought zone and is likely to reverse soon. This prediction is further backed by the token’s price movement, which shows that LINK is approaching a significant resistance at the $9.1 zone, which has not been broken in the last 14 months. Related Reading: Chainlink CCIP Goes Live On Mainnet, LINK Jumps By Nearly 10% If the resistance level holds strong again, LINK is likely to decline, retesting at the $5.3 price zone, which has also served as a strong support level since last year. At the time of writing, LINK is trading at $8.02, with a 1.67% increase in the last hour. The token’s daily trading volume is also up by 62.19% and is sitting at $497.4 million. With a market cap of $4.3 billion, LINK ranks as the 21st-largest cryptocurrency. LINK Trading At $8.058 On The Daily Chart | Source: LINKUSD Chart On Tradingview.com Featured Image From Chainlink, Chart From Tradingview
What's the deal with all these sandwiches? They are a social signal in an attempt to build consensus around activating a change to Bitcoin.
Lightning has offered a path to massively improve the scalability of transactions conducted using Bitcoin, but has offered no meaningful path to scaling the ownership of coins on the network. CTV opens the door to addressing that missing piece of the scaling puzzle.
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