The MATIC/USDT trading pair experienced a bounce from its support zone at $1.0784-$1.0538 on the one-hour chart.The asset was unable to break below its 200-day moving average, signaling a bullish trend.The digital asset’s recent price action has brought it close to its current resistance area at $1.2915-$1.2669.MATC/USDT 1-Hour Trading Analysis (Source: TradingView) However, the relative strength index (RSI) of MATIC currently stands at 69.05.An RSI level above 70 typically indicates a potential trend reversal, and given MATIC’s proximity to its resistance level, it could be at risk of experiencing a reversal in the near term.LTC/USDT 1-Hour Trading Analysis (Source: TradingView) Litecoin, the popular cryptocurrency, has been gaining attention in the market as of late, as its trading volume saw a significant uptick of over 10% in the past 24 hours, indicating a growing accumulation among investors.
The digital asset has also broken out from its previous price structure and is currently trading near its 1-hour resistance level.
Litecoin is also trading above its 200-day moving average, which is a bullish sign, similar to other altcoins in the market.
Moreover, the Relative Strength Index (RSI) value of 58.81 suggests that Litecoin is currently in a strong upward trend.These technical indicators could potentially pave the way for even more growth in the near future.DOT/USDT 1-Hour Trading Analysis (Source: TradingView) Polkadot, the altcoin that has been making waves in the market recently, is the subject of our final technical analysis.Currently, DOT has rebounded from its support level after several retests.As of this writing, DOT is trading above its 200-day moving average.However, its trend remains somewhat uncertain.
Market observers should closely watch to see if DOT will retest the 200-day moving average or break through the resistance level.If the latter occurs, it could push DOT’s price above $7 in the coming days.
Additionally, DOT has seen a sharp increase in trading volume, rising 51.09% over the past 24 hours.Disclaimer: The information provided in this article is solely the author’s opinion and not investment advice – it is provided for educational purposes only.By using this, you agree that the information does not constitute any investment or financial instructions.Do conduct your own research and reach out to financial advisors before making any investment decisions.
24-hour performance Smart Contract Token Market Soars To $332 Billion; Defi Value Reaches High Not Seen Since FTX Collapse The smart contract token economy rose 5.6% against the U.S.dollar on Thursday, reaching $332 billion.Additionally, the value locked in decentralized finance (defi) increased to nearly $50 billion, a record high not seen since the collapse of FTX.Smart Contract Economy and Defi TVL Bounces Back On Thursday, Feb.
2, 2023, the top smart contract platform coin economy increased to $332.86 billion, a rise of 5.6% in the last 24 hours.
Currently, roughly $20.44 billion in global trading volume is paired with smart contract tokens.Of the top ten smart contract crypto assets by market capitalization, polygon (MATIC) led in 24-hour gains, rising 12% in the last day.Aptos (APT) followed with the second-largest increase, jumping 10.4% higher on Thursday.Polkadot (DOT), chainlink (LINK), and solana (SOL) all experienced notable gains in the last day, jumping 6% to 7.1% higher.Smart contract coins outside the top ten that saw significant increases include near protocol (NEAR), which rose 11.4%, and fantom (FTM), which jumped 17.5% on Thursday.
Parsiq (PRQ) was the largest gainer with a 27.7% increase, while counterparty (XCP) was the biggest smart contract token loser, shedding 9.9% on Thursday.The value locked in decentralized finance (defi) has also risen and is near the $50 billion range, at approximately $49.48 billion.Lido Protocol leads the defi pack, as its total value locked (TVL) today represents 17.32% of the $49 billion on Thursday.Lido’s TVL increased by 5.79%, and the second-largest defi protocol, Makerdao, jumped 2.97% in 24 hours.Rocket Pool experienced one of the biggest defi protocol increases in the last day with a 7.38% rise.
According to defillama.com statistics, the top 20 defi protocol TVLs have all seen double-digit increases in the last 30 days.Ethereum remains the top chain in decentralized finance today, as its defi protocols dominate the total value locked (TVL) by 59.4%.Ethereum is followed by Tron, Binance Smart Chain (BSC), Arbitrum, and Polygon, respectively, in terms of TVL size on Feb.2, 2023.Changes over the past month show that the top ten blockchains in terms of defi TVL have also seen double-digit increases in TVL.
The largest increase in the last month was Optimism’s TVL, which increased by 47.41% over the 30-day span.The last time the TVL in defi was this high was in Nov.
2022, just before the crypto exchange FTX collapsed.Tags in this story 24-hour performance, Aave, Arbitrum, Binance Smart Chain, blockchain rankings, blockchains, bnb, Cardano, crypto economy, crypto market trends, Cryptocurrency, Curve, decentralized finance, DeFi, DeFi protocol competition, Dominance, Double-Digit Gains, Ethereum, Ethereum Dominance, Lido Finance, makerdao, Market Capitalization, market rally, Polygon, Price Increase, smart contract asset performance, Smart Contract Platforms, Solana, Tokens, total value locked, tron, TVL growth, TVL size, uniswap, weekly performance What do you think about the market performances of smart contract tokens on Feb.2 and the rise in defi’s TVL? Share your thoughts in the comments sections below.Jamie Redman Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida.Redman has been an active member of the cryptocurrency community since 2011.He has a passion for Bitcoin, open-source code, and decentralized applications.
Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.
Image Credits: Shutterstock, Pixabay, Wiki Commons Disclaimer: This article is for informational purposes only.It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies.Bitcoin.com does not provide investment, tax, legal, or accounting advice.Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article./r/Bitcoin Bitcoin Records Largest Mined Block To Date, 4 MB Block Containing NFT Causes Unease Among Small-Block Supporters Amid the controversy surrounding the Ordinals project and the debate over what types of data should be stored on the Bitcoin blockchain, the network mined its largest block, nearly 4 MB in size, containing just 63 transactions.
One of the transactions was a 3.94 MB Ordinal inscription featuring an image of a wizard, and the Bitcoin-issued non-fungible token (NFT) has generated significant discussion.Small Block Advocates Speak Out Against the 4 MB Bitcoin Block With NFT Inscription On Feb.1, 2023, the Luxor mining pool mined the largest block (#774,628) ever recorded on the Bitcoin network, approximately 3.96 MB.The coinbase parameter of the block contains a message indicating its discovery by Luxor.The mining pool also took to Twitter to inform the community about the discovery and the reason for the large size of the block.“Last night, Luxor harnessed its magic energy and freed an ancient wizard from his cosmic cage where he had been trapped for many epochs,” the mining pool tweeted.
“Keen observers of the chain of time may have noticed a 4 MB anomaly, unlike anything seen before.Will there be others?” The tweet also included an image of the “Taproot Wizard,” an Ordinal inscription #652, attached to the block.Taproot, a feature applied to the Bitcoin network on Nov.
12, 2021, was activated at block height 709,632 and brought several new benefits to BTC users.
A 3.96 MB block #774628 has been just added to Bitcoin by @LuxorTechTeam exploiting buggy Taproot! The previous record was just 2.77 MB.
Here’s the list of the largest blocks: https://t.co/LsavqjLFEq This will trigger many! Are we on the verge of a new blocksize war? 🤓 — Nikita Zhavoronkov (@nikzh) February 2, 2023 Essentially, Taproot allows multiple participants in a transaction to create a single combined digital signature, making transactions more efficient and private.
Since the creation of Ordinals, it has been discovered that using a Segregated Witness (Segwit) “discount” in combination with Taproot allows for a full block to be 4 MB in size, bypassing the 1 MB limit encoded in the Bitcoin blockchain.It was previously known that Segwit slightly increased block sizes, with the largest block before Luxor’s 3.96 MB being 2.765 MB (#748,918) mined on Aug.11, 2022.Concerns Raised Over Immutable Nature of Bitcoin and So-Called ‘Dangerous’ Content Meanwhile, Ordinals were already controversial among some bitcoin maximalists, and the 4 MB block mined with only 63 transactions and a Wizard JPEG caused further upset.
For instance, bitcoin developer Luke Dashjr, who called Ordinals an “attack,” quickly created a node patch to filter or censor Ordinal “spam.” “NOT a protocol change or soft fork/hard fork, just a harmless (if it works right) spam filter,” Dashjr wrote.“Also a quick hack and NOT suitable for opening a PR to Core – please write a proper fix for that.” Many bitcoin advocates were dissatisfied with the record-breaking block size, and the topic was discussed on the Reddit forum r/bitcoin.The most upvoted comment in the thread read: “I would much rather see such a block full of real monetary transactions from thousands of people, instead of this idiocy.” Another individual agreed with this opinion and argued that the Taproot scheme that produced a 4 MB block was dangerous.“Yeah … This is rather dangerous.We’re one bad actor or one automated miner away from cementing vile and disgusting things to a permanent, globally distributed, uncensorable database.
It will be interesting to see if there is a free market solution to this.” Someone has just uploaded DOOM to the BTC blockchain.Go here to try it out:https://t.co/DLuBYj06CS — Hector Lopez (@hlopez_) February 2, 2023 In addition to the stir caused by the Wizard-block Ordinal, an unsavory image was inscribed into inscription #668.Although the image was removed from the Ordinals website, it remains immutable and cannot be removed from the Bitcoin blockchain.Furthermore, a game, “DOOM,” was uploaded to the blockchain and can be found in inscription #466.Some bitcoin advocates expressed dissatisfaction with the mining pool Luxor, which mined the 4 MB block.
One person responded to Luxor’s tweet, saying, “There’s nothing revolutionary in what you did.You stuffed a nasty JPEG with zero artistic value into the blockchain.Okay…you could have crafted the same stupid image 10,000 times smaller.Why did you make it 4 MB? Because it’s mischief; you are trolls.” Tags in this story artistic value, automated miner, bad actor, Bitcoin, bitcoin maximalists, Block Size, Blockchain, Censorship, controversy, Cryptocurrency, dangerous, Decentralized, Developer, Digital Art, Digital Collectibles, digital market, digital ownership, free market solution, Hardfork, idiocy, immutable, Innovation, Luke Dashjr, Luxor, mining pool, mischief, monetary transactions, nft, node patch, ordinals, Ownership, Privacy-preserving, protocol change, r/bitcoin, Reddit, Scarcity, Security, Segragated Witness, SegWit, softfork, Taproot, transactions, Transparency, uncensorable database, upvoted, upvoted comment, virtual assets, wizard What is your take on the 4 MB block controversy in the Bitcoin network? Do you believe it is a potential threat or a harmless addition to the blockchain? Share your thoughts in the comments section below.Jamie Redman Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida.
Redman has been an active member of the cryptocurrency community since 2011.He has a passion for Bitcoin, open-source code, and decentralized applications.Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.
Image Credits: Shutterstock, Pixabay, Wiki Commons, Editorial photo credit: Ordinal inscription #652 Disclaimer: This article is for informational purposes only.It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies.
Bitcoin.com does not provide investment, tax, legal, or accounting advice.
Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.Russia-linked cryptocurrency exchange Bitzlato, seized by Western law enforcement, plans to relaunch and permit partial withdrawals, a co-founder announced.Members of the trading platform’s team also intend to relocate the business to the Russian Federation.Co-Founder Says Exchange Will Provide Access to User Funds Crypto exchange Bitzlato is taking steps to restore operations and immediately permit customers to withdraw bitcoin, one of its founders, Anton Shkurenko, said in an interview with Satoshkin Live, a Youtube channel devoted to crypto investment and trading, quoted by major Russian-language crypto news outlets Forklog and Bits.media.
In January, the Hong Kong-registered platform was busted as part of an international law enforcement action described by U.S.
authorities as a “blow to crypto crime.” It allegedly processed $700 million of illicit funds received from criminal entities such as the darknet market Hydra and the Russian crypto Ponzi scheme Finiko.Its other co-founder, Anatoly Legkodymov, who is a Russian national residing in China, was arrested in Miami and several other team members were detained in Europe.
The service was disrupted with the participation of French authorities who took control of its servers and took down its website.Shkurenko told Satoshkin’s host, Dmitry Stepanin, that French officers were able to seize Bitzlato’s hot wallet which at the time stored around 35% of user funds in various cryptocurrencies.
He did not specify the exact amount but denied reports claiming that the total exceeds $1 billion.The executive also denied accusations that the company has evaded taxation and assured it has always complied with know-your-customer and anti-money laundering regulations under European laws while cooperating with law enforcement to prevent illegal activities.He also expressed hope that soon the charges will be dropped and the apprehended people released.Four Bitzlato employees have been arrested with the participation of Europol and Shkurenko revealed their identities – former Executive Director Mikhail Lunev, Marketing Manager Alexander Goncharenko, Pavel Lerner, a contractor working on the implementation of the Monolithos DAO, and a system administrator identified as Konstantin.
The latter has been released on bail in Cyprus.Cryptocurrency Exchange Bitzlato to Relocate to Russia Bitzlato is currently auditing its losses, the co-founder said and further unveiled that the company plans to move to Russia and renew its activities under Russian jurisdiction.Right now, Bitzlato is looking for an infrastructure contractor, he said.As for the repayment of user funds, Anton Shkurenko assured that customers will be able to withdraw 50% of the BTC in Bitzlato wallets on the day the platform is launched again.
Holdings in altcoins will be released gradually he added without specifying a timetable.The world’s largest crypto exchange, Binance, which was one Bitzlato’s biggest recipients, having reportedly processed $346 Million of funds from the platform, blocked some accounts of Bitzlato users in Eastern Europe and the Commonwealth of Independent States following the law enforcement operation.
The leading exchange later said it has restored access to most of these accounts.Tags in this story arrests, Binance, Bitcoin, Bitzlato, co-founder, Crypto, crypto exchange, Crypto Funds, Cryptocurrencies, Cryptocurrency, Europe, Europol, Exchange, France, french, holdings, Law Enforcement, operation, operations, Russia, russian, U.S., United States, US, Wallets, Withdrawals Do you think crypto exchange Bitzlato will be able to refund users if it restores operations? Tell us in the comments section below.Lubomir Tassev Lubomir Tassev is a journalist from tech-savvy Eastern Europe who likes Hitchens’s quote: “Being a writer is what I am, rather than what I do.” Besides crypto, blockchain and fintech, international politics and economics are two other sources of inspiration.Image Credits: Shutterstock, Pixabay, Wiki Commons Top posts Bedrock4 hours ago Optimism Plans To Enhance L2 Scaling Network With ‘Bedrock’ Upgrade In March The Ethereum scaling network Optimism, which operates as a layer two (L2) network, announced plans to upgrade its network in…24-hour performance6 hours ago Smart Contract Token Market Soars To $332 Billion; Defi Value Reaches High Not Seen Since FTX Collapse The smart contract token economy rose 5.6% against the U.S.
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