Assessing the Lightning Network's Last-Mile Solutions

A look at different solutions to solving the issue of end users interactions with the Lightning network, i.e. the last mile problem.

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Cardano Market Structure Says Crash Is Coming, But $0.9 Is Still In The Cards

Cardano (ADA) is flashing mixed signals as its market structure hints at an imminent short-term price crash. While bearish indicators suggest a possible decline, a crypto analyst reveals that the broader trend remains intact, with technical patterns supporting the potential for a rally toward the $0.9 mark. Cardano Price Crash Incoming TradingView Crypto analyst SiDec has released a bearish price forecast for Cardano, anticipating a significant correction toward the $0.75 area in the coming days. This cautious outlook is based on detailed analysis using Elliott Wave Theory, Fibonacci tools, and critical price action zones.  Related Reading: Crypto Analyst Releases Next Potential Targets For Cardano, Is $1 ADA Still Possible? SiDec has stated that ADAs price continues to consolidate after completing a 5-wave impulse move, signaling the end of its upward momentum. Following this strong impulse rally, the cryptocurrency is now exhibiting a classic Elliott Wave behavior, transitioning into a textbook ABC corrective pattern.  The cryptocurrency first experienced a pull-back, labeled as Wave A on the price chart, followed by a temporary recovery in Wave B. According to SiDec, Wave C is expected to complete the retracement pattern, with ADAs final downward move nearing its end.  Currently, technical indicators and price action point to the $0.705 region as a high-probability long entry zone. The TradingView analyst also clarifies where ADA might find solid support during this corrective phase using Fibonacci Retracement zones. The 50% retracement level of the entire bullish 5-wave impulse is positioned approximately at $0.7534 a critical price point that coincides closely with ADAs previous price swing at $0.746. This former resistance level has yet to be revisited, making it a natural support candidate.  The analysis further identifies a 1:1 ABC extension for the anticipated correction in ADA, placing Wave Cs potential crash target around $0.7492. This also creates a tight cluster of technical indicators in the range of roughly $0.75, indicating a strong support zone.  Further supporting this level, the daily 21 Exponential Moving Average (EMA) stands at $0.7455, while the daily 21 Simple Moving Average (SMA) is slightly lower at $0.7347. SiDec has also identified the Point of Control (POC), which marks the price with the highest volume, near $0.7318.  The analyst further highlights that Cardanos anchored Volume Weighted Average Price (VWAP) resides within the $0.75 support zone. At the same time, the Pitchfork tools golden pocket aligns dynamically as support around the same area.  ADA Price Path To $0.92 Holds Firm While SiDec eyes a potential crash to new lows for ADA in the near term, the analysts chart also shows a green zone, with a projected bullish bounce drawn. Following its Wave C crash, Cardano is expected to rebound and approach the $0.92 level.  Related Reading: Cardano Price Set For 300% Explosion With Major Bullish Impulse The TradingView analyst has advised caution around this area, as $0.92 acts as a significant resistance zone and coincides with a prior liquidity zone that could trigger rejection or profit-taking.  SiDec has emphasized that the risk-to-reward ratio around this area will only become favorable once there is clear confirmation, such as an SFP, a bearish engulfing candle, or visible divergence. Overall, if the $0.75 support zone holds, Cardano, which is currently trading at $0.78, could be positioned for a strong recovery toward $0.92 and beyond. Featured image from Unsplash, chart from Tradingview.com

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INJ Price Soars 13% As Injective Unveils inEVM, Ethereum And Solana Integration Expected

In a recent announcement, Layer 2 (L2) protocol Injective (INJ) has reached a major milestone with the launch of its inEVM Layer 2 rollup solution on the mainnet. This technology introduces an Ethereum Virtual Machine (EVM) environment to the Injective ecosystem, opening up new prospects for developers and blockchain interoperability. By integrating with Ethereum (ETH), [...]

The post INJ Price Soars 13% As Injective Unveils inEVM, Ethereum And Solana Integration Expected appeared first on Crypto Breaking News.

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Unlocking Bitcoins Potential: How Sidechains Will Fuel BTCfi Expansion

Bitcoin sidechains are set to revolutionize the world of decentralized finance (DeFi) by offering a solution that maximizes the potential of Bitcoin’s network. This will drive significant growth in the Bitcoin DeFi sector. Sidechains are secondary blockchains that are connected to the main blockchain, in this case, Bitcoin. They allow for the creation of new [...]

The post Unlocking Bitcoin’s Potential: How Sidechains Will Fuel BTCfi Expansion appeared first on Crypto Breaking News.

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Solana Price To Drop To Double Digits? Major Levels To Watch For Entries

Crypto analyst SiDec has raised the possibility of the Solana price dropping to double digits. The analyst revealed major levels to watch for entries as market participants brace up for this massive crash.  Major Levels To Watch As Solana Price Risks Drop To Double Digits In a TradingView post, SiDec highlighted the range between $136 and $143 as the major resistance zone for the Solana price. Meanwhile, he stated that between $102 and $98 is the next major support zone, indicating that SOL risks dropping to double digits soon if it fails to hold this support zone.  Related Reading: Solana Forms Ascending Triangle For Possible Breakout, Analyst Sets $565 Target The analyst noted that the Solana price has been in a slow uptrend over the past five days, after hitting the low at $112. He added that the current price action looks like an ABC corrective pattern, which could mean that SOL is setting up for lower prices. While alluding to the key levels to watch for entries, he SiDec noted that placing orders at key levels helps increase the chances of catching the right move without overcommitting too early.  He then discussed the resistance zone between $136 and $143. The crypto analyst remarked that the Solana price will likely struggle in that range, as the area contains multiple technical confluences suggesting a potential reversal or strong reaction. As such, SiDec stated that this range is a prime area to consider for short positions, especially if the price starts showing weakness.  On the other hand, SiDec revealed that a major demand zone is forming between $102.1 and $98.50 on the downside for the Solana price. He stated that this zone has multiple technical confluences, making it a high-probability long entry area. The analyst added that this zone presents a solid long opportunity for gradual scaling into positions as price moves deeper into support.  Market Outlook For SOL SiDec remarked that there is a short bias until the Solana price reclaims $143.80, with this level a strong resistance zone for potential short trades. For market participants looking to enter a short position, the analyst remarked that laddering into the resistance zone ensures better risk management and higher entry efficiency.  Related Reading: Bitcoin, Ethereum, And Solana: Real Visions Raoul Pal Calls The Greatest Macro Trade Of All Time Meanwhile, for a long setup, the analyst stated that starting small at $112 and increasing position size down to $98.50 ensures strong positioning in a high-confluence demand zone. He added that scaling into trades rather than committing at a single price increases flexibility, improves trade execution, and helps market participants adapt better to price movements. Further discussing the Solana price action, SiDec noted that the $100 target coincides with the 200 Exponential Moving Average (EMA) on the weekly timeframe, adding confluence to this strong support.  The analyst also mentioned that if the Solana price decisively breaks above $144, it would invalidate the short thesis and suggest a potential move higher toward $150. Meanwhile, a strong rejection from the resistance zone would likely accelerate the move toward $112 to test demand at swing low.  At the time of writing, the Solana price is trading at around $128, down over 4% in the last 24 hours, according to data from CoinMarketCap. Featured image from iStock, chart from Tradingview.com

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Why Drivechain Is Our Best Chance To Secure Bitcoin Into The Future

Faced with the threat of ossification, Bitcoin Core should adopt BIPs 300 and 301, integrating Drivechain’s solutions for ongoing security.

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Cardano Nodes Go Offline for Half an Hour

Stake pool operators reported 50% of Cardano nodes disconnecting and restarting due to anomaly. Cardano's fintech business is investigating the anomaly's cause. (Read More)

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Cardano Leads Development With Unique Sidechains And Toolkits

This month, the Cardano ecosystem team is getting ready to release a software toolkit that will let developers build their own sidechains. Related Reading: Vital Levels To Keep Eye On As Cardano Price Begins To Retreat On January 12, Input Output Global (IOG), a blockchain engineering firm created by Charles Hoskinson and formerly known as Input Output Hong Kong (IOHK), made the announcement. The official technical documentation for the sidechain toolkit was also released in the announcement. Great move by @InputOutputHK I believe this help spread the usage of Sidechains for Cardano which is a good strategy if it evolves to use mithril / state proofs As a core contributor to @Milkomeda_com we will continue to lead ?? and hopefully support others to join https://t.co/auqp2TkEg1 — nicoarq (@NicoArqueros) January 12, 2023 As a “proof-of-concept,” IOG developers have already used the toolkit to build an Ethereum Virtual Machine (EVM)-compatible sidechain public testnet. Once the audit is complete, developers will be able to deploy decentralized applications, create smart contracts, and transfer tokens between testing chains. In addition to other application-specific capabilities, the toolkit will permit sidechain developers to select their consensus process. Mainnet Growth The IOG developers have also revealed that they have used the toolkit to build a proof of concept on a public testnet that is compatible with the EVM sidechain. Moreover, once the audit is complete, developers can launch dApps and smart contracts and transfer tokens between different test chains. Finally, the announcement notes that sidechain creators can use the toolkit to choose the consensus mechanism that best suits their app. The term “mainnet” refers to the parent blockchain, while “sidechain” describes a blockchain that operates independently of the mainnet. While the primary blockchain focuses on safety and decentralization, a sidechain can help the network scale. Related Reading: Cardano Up 30% Since December As 28 New Whales Hold At least 1 Million ADA In the long run, IOG expects this new development to lead to widespread adoption of the Cardano network, facilitating the launch of multiple Cardano sidechains and partner chains. Meanwhile, Charles Hoskinson, the creator of ADA, has proposed that Solana joins Cardano as a “partner chain.” Hoskinson shared this during a recent “ask me anything” session. He claims that there would be synergies between the two blockchains. For example, Solana can take advantage of Cardano’s security and infrastructure, while Cardano can take advantage of Solana’s faster network. Fans’ Anticipation In Cardano Community The announcement has been met with positivity from Cardano supporters, with one member of the community anticipating a price increase on par with Ethereum in recent years when several layer-2 sidechains and utility tokens were introduced. 2023 is the Year of #Cardano sidechains – Midnight privacy sidechain – Sidechains Toolkit EVM compatible – Milkomeda, first Cardano sidechain – …more to come Do you remember what happened when people started to build sidechains/tokens on Ethereum? Take that and make it x10. https://t.co/n8KWCX2SVh — Cardano Hieronymus (@CardanoHumpback) January 12, 2023 One enthusiastic participant predicted that the release and implementation of the toolkit would lead to a rise in the number of people making use of Cardano’s sidechains in the coming weeks and months. Great move by @InputOutputHK I believe this help spread the usage of Sidechains for Cardano which is a good strategy if it evolves to use mithril / state proofs As a core contributor to @Milkomeda_com we will continue to lead ?? and hopefully support others to join https://t.co/auqp2TkEg1 — nicoarq (@NicoArqueros) January 12, 2023 Meanwhile, the IOG team noted that the toolbox isn’t a remedy but will help with problem areas. For example, the security model, bridge experience, and SPO rewards structure are just a few. The team did say, though, that it was looking forward to community input and participation in these improvements. According to its roadmap, Cardano will introduce parallel accounting systems to promote sidechains. This release is part of the Basho update that will allow for ADA’s network compatibility. IOG’s development of this toolkit marks their second sidechain solution for it. IOG already implemented a simpler EVM-compatible sidechain in July to start the sidechain work on Cardano, so this isn’t the first sidechain solution they’ve integrated. Additionally, in September, Cardano experienced its most crucial hard fork yet, the Vasil upgrade, which has been said to facilitate the cheaper and more efficient deployment of smart contracts and the operation of decentralized applications. As of press time, ADA is trading at $0.3312, a 22.14% increase from the prior week’s price, with a 24-hour trading volume of $448 million. Featured image from Unsplash, chart from TradingView.com

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Ripple wants to bring Ethereum smart contracts to the XRP Ledger

The EVM-compatible XRP Ledger sidechain is set to undergo its second phase in early 2023 — which will make the chain permissionless and improve scalability.

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RippleX upgrades the design of XRP ledger sidechains

RippleX, the developer arm of crypto solutions provider Ripple, has upgraded the design of XRP Ledger’s sidechains. This update was shared by one of the [...]

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An Overview Of The Tradeoffs For Different Sidechain Implementations

Each Bitcoin sidechain implementation brings about different centralization and consensus issues to weigh and consider.

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Ankr Launches Custom Blockchain Tool Aimed At Mainstream Adoption

Ankr’s latest release App Chains-as-a-Service aims to make it easier for developers to come into the crypto space.  Covered: Ankr Launches App Chains-as-a-Service Ankr Launches App Chains-as-a-Service Web3 infrastructure provider Ankr announced today that it’s releasing App Chains-as-a-Service, a blockchain development tool aimed at spurring development in crypto. Ankr is known best for simplifying running […]

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Polygon includes $23 billion sports betting company DraftKings as network validator

Valued at $23 billion, DraftKings, a digital sports entertainment and gaming company, today joins the Polygon ecosystem as a validator and node operator, marking this the first time a major publicly-traded firm has taken an active role in blockchain governance.

The post Polygon includes $23 billion sports betting company DraftKings as network validator appeared first on CryptoSlate.

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Is The Lightning Network Centralized?

The emergence of Lightning Hubs might suggest that Bitcoin’s leading Layer 2 protocol is centralized. So let’s compare it to fiat’s structure.

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Data Shows Polygon Has Surpassed Eth In ‘New Tokens Deployed’

Big announcements and data both point to Polygon beating Ethereum in almost every metric. Covered: Polygon overtakes Ethereum in ERC tokens deployed From Sidechains to Rollups Winning on all fronts A Formidable Layer 2 for ETH Congestion It was only a matter of time. The bottleneck of Ethereum’s congestion at the base layer always meant […]

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El Salvador To Issue 'Bitcoin Bond' On The Liquid Bitcoin Sidechain

The first country to adopt bitcoin as legal tender aims to raise $1 billion through bond issuance to purchase BTC and invest in infrastructure.

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xDai Community Alleges “Hostile Takeover” By Gnosis

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The Biggest Blockchain Game In The World Launches Its First DEX

Axie Infinity DEX: Axie’s decentralized exchange will allow users to avoid the perils of centralized exchanges. Today is a day for the history books. Katana launch is the beginning of a new chapter in the @AxieInfinity story. Katana is a cornerstone of the Axie digital nation. We are seeing the foundations of the Axie economy […]

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Upcoming parachain auctions send Polkadot to new ATH, while CHR and THETA follow

DOT hits a new all-time high as Polkadot’s parachain auctions approach, and the ever-expanding Metaverse could be behind the gains seen in CHR and THETA.

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Bitcoin Wallet Specter Integrates Liquid Sidechain Network

Users can now transact on the Liquid Network with the software and hardware Specter wallets.

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