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Cardano, the smart contract platform nipping at Ethereum's heels, is gearing up for its next big leap. The network is transitioning from Basho to Voltaire. This move comes after a focus on scaling and performance tweaks. The Chang hard fork is crucial to this shift. But progress is slow. Cardanoscan data shows only 33% of stake pool operators were ready on August 19. A measly 14% of exchanges had updated. Post-Chang, Cardano aims to embrace decentralized governance. But that's not all, folks. One observer, citing Anastasia Labs founder Philip DiSarro, claims Cardano could lead the zero-knowledge (ZK) scaling race. DiSarro reckons Chang will give Cardano a serious edge in the ongoing "scaling war". Why the optimism? It's all about the Chang hard fork's goodies. Cardano will integrate Plutus v2 post-Chang. This upgrade lets devs create smart contracts more efficiently. It's a big deal. The new programming language handles complete computations. That's ZK proof territory. Off-chain computation features will also be ready. ZK-rollups need this. Our observer is bullish. They reckon post-Chang Cardano will be unique. "Won't be copied by anyone," they claim. It's a "huge, unique selling point" for ZK scaling. But Ethereum's not sitting idle. It's scaling through optimistic rollups. Transactions get bundled and approved offline. Problem is, centralized systems play middleman. It's not ideal. Cardano's betting on ZK scaling post-Chang. The platform supports determinism. Same inputs, same outputs. It's predictable. ZK scaling loves that. Meanwhile, ADA's in the doldrums. The coin's down 60% from March 2024 highs. It's testing support at $0.30. Ouch. The road ahead's bumpy. But Cardano's playing the long game. Will it pay off? Time will tell.

Solana's price ticked up 0.5% to $142.59 in the past 24 hours. This follows Asymmetric founder Joe McCann's bold claim about the cryptocurrency. McCann praised Solana on Wealthion's Speak Up podcast. He told host Anthony Scaramucci that Solana has "flipped every metric associated with Ethereum". The hedge fund CEO didn't mince words. He argued Solana is "so cheap and fast [it] will enable use cases that are literally impossible on Ethereum in its current state". These bullish comments come despite Solana's recent dip. The token is down 3% over the week. However, it's up 16% in a fortnight and a whopping 550% over the past year. McCann's not new to the Solana hype train. Asymmetric received financial backing from Solana's founder, Anatoly Yakovenko, in a $1 billion raise back in 2022. In his chat with Scaramucci, McCann dropped another bombshell. He claimed Solana is outperforming Ethereum at just "20% of the value". Doing some quick math, McCann suggested Solana's potential. "If Ethereum is going, you know, two and a half [or] 3x from here, Solana's got to be four or 5x as well," he said. That's some serious growth potential. We're talking a price range of $560 to $710 for SOL. McCann didn't give a specific timeline, though. Looking at SOL's chart, that range seems a bit far-fetched right now. We're probably a year out, at least. But hey, stranger things have happened in crypto. McCann's not alone in his Solana enthusiasm. With big players backing SOL, it'd be foolish to bet against it. So, is Solana really the fastest horse in the crypto race? Only time will tell. But one thing's for sure – it's definitely one to watch.

A popular crypto analyst is bullish on two decentralized finance (DeFi) tokens. The pseudonymous trader, known as The Crypto Dog, has his eye on AAVE and Curve DAO (CRV). Both have gained not too much attention in the recent weeks, being completely overshadowed by scandalous meme coins, XRP vs SEC case, Bitcoin ups and downs, Ethereum useless efforts to rise again, and other hurdles. AAVE, the governance token of a DeFi lending protocol, is looking primed for a rally. The Crypto Dog shared a chart with his 809,500 X followers. He showed AAVE retesting $107 as support. "Think that's gonna moon," he quipped. AAVE was trading at $111.62 at press time. It's down slightly over 24 hours. But it's up over 46% since its August 5th low of about $75. The analyst reckons CRV might follow AAVE's lead. He's watching the AAVE/BTC pair for clues. "Finally, CRV comes to life," he noted. "BTC near resistance, strong alts break out." He advised traders to focus on altcoins showing strength against Bitcoin. "Pay attention to ratio pair strength," he said. "Ignore alts that can't pump against BTC." CRV was trading at $0.313 when we checked. It's down over 3% in a day. But it's up more than 70% from its August 5th low of around $0.18. Despite his optimism, The Crypto Dog isn't all sunshine and rainbows. He warns that altcoins look shaky right now. "About to rebuy alts because if they don't bounce here, I think they're going to hades," he said. The DeFi market is known for its volatility. These predictions should be taken with a pinch of salt. As always, do your own research before diving in.

Decentralized Exchange (DEX) volume is on the rise, showing the increasing shift in crypto trading from Centralized Exchanges (CEX) to on-chain trading. DEXs saw a 15.7% quarter-on-quarter increase in spot trading volume, while CEX experienced a 12.2% decline, according to CoinGecko’s second quarter report. The ratio of DEX to CEX trading is at an all time high, indicating changing users habits and preferences. So, DEXs are gaining ground, reshaping the landscape of cryptocurrency trading. This shift isn't just a passing trend—it's a seismic change in how traders engage with the market. While CEXs like Binance and Coinbase have long dominated the crypto space, the appeal of DEXs is becoming harder to ignore. Data from recent reports highlights a marked increase in DEX trading volumes, while CEXs face mounting challenges. Why is that happening and where does it lead to? Let’s find out why DEXs are overcoming CEXs, focusing on the core distinctions and the five critical factors driving this shift. Understanding the Differences: CEXs vs. DEXs First, why don’t we clear the basic terms. It is essential to understand what sets CEXs and DEXs apart. Centralized Exchanges are managed by a single entity that controls the platform, often acting as an intermediary between buyers and sellers. This model, while offering certain conveniences like high liquidity and ease of use, also introduces significant risks, such as security breaches and loss of funds. You might even have some painful memories of your own that illustrate this, like from the FTX collapse in 2022. Decentralized Exchanges operate on blockchain networks, allowing users to trade directly with each other without intermediaries. Transactions are facilitated by smart contracts. Transparency and security are the obvious and default options here. The decentralized nature of DEXs means that there is no single point of failure, and users retain full control over their assets. However, this also means that DEXs can be more complex to use. That might be a problem for novice users. Transaction costs are typically higher. And speeds are often slower. And yet, something drives users to DEXs. Let’s see what it is. Screenshot 2024-08-09 at 12.57.57.png TOP-5 Reasons Why DEXs Are Overcoming Enhanced Security and Self-Custody One of the most compelling reasons traders are flocking to DEXs is the enhanced security they offer. In CEXs, users must trust the exchange with their funds, which can be vulnerable to hacks or mismanagement. The infamous hack of Mt. Gox and the more recent collapse of FTX highlight these risks. In contrast, DEXs allow users to maintain custody of their assets at all times, reducing the risk of losing funds due to an exchange's failure or malicious attacks. This shift towards self-custody is significant. As more traders become aware of the risks associated with centralization, the appeal of DEXs—where users' assets remain under their control—is growing. The decentralized model eliminates the need for trust in a central entity, making it inherently more secure against threats such as hacking and fraud. Regulatory Pressures and Censorship Resistance CEXs have increasingly come under the scrutiny of regulators worldwide. The push for tighter regulations and compliance measures, including Know Your Customer (KYC) and Anti-Money Laundering (AML) protocols, has added a layer of complexity and cost to their operations. For users, this often translates into reduced privacy and the risk of account freezes or asset seizures. In contrast, DEXs operate in a decentralized environment, which makes them more resistant to censorship and regulatory overreach. Users can trade with greater anonymity, as DEXs typically do not require extensive personal information. This privacy aspect is particularly appealing to users in regions with strict financial controls or where access to traditional financial systems is limited. Lower Costs and Zero Intermediary Fees Another factor driving the popularity of DEXs is the lower cost of trading. CEXs charge fees not only for transactions but also for deposit and withdrawal operations, and they often include hidden costs related to the exchange’s profit margins. DEXs, however, cut out the intermediaries, allowing users to trade directly with each other. The fees on DEXs are typically lower since they are based on the cost of executing smart contracts on the blockchain, with no added margin for a central operator. This cost efficiency is particularly noticeable in high-volume trading, where the savings can be substantial. As a result, many traders are turning to DEXs to maximize their profits by minimizing the fees they pay on each transaction. Innovation and Access to New Markets The decentralized finance (DeFi) boom has spurred innovation in the DEX space, bringing about new trading mechanisms and financial products that are unavailable on traditional CEXs. Automated Market Makers (AMMs) have revolutionized the way liquidity is provided, allowing users to earn fees by contributing to liquidity pools. Moreover, DEXs often list assets that are not available on CEXs, providing access to a broader range of tokens and investment opportunities. This includes emerging tokens and those that are not listed due to regulatory constraints on CEXs. As more projects and tokens launch in the DeFi space, DEXs are becoming the go-to platforms for accessing new and innovative markets. The bridge between traditional finance (TradFi) and decentralized finance (DeFi) is increasingly becoming a focal point for institutional investors looking to capitalize on the benefits of both worlds. According to Louis Bellet, CEO of Yellow Network, as institutions seek greater transparency, security, and efficiency in their trading operations, they are progressively exploring on-chain trading and innovative solutions in DeFi. This transition is facilitated by advancements in blockchain technology and regulatory frameworks that aim to integrate DeFi features with established financial systems. By leveraging DeFi's decentralized infrastructure, institutions can access new opportunities and optimize their trading strategies in a rapidly evolving market landscape. “A market featuring 24/7 trading of digital assets is set to become a nonstop parallel trading environment”, says Louis Bellet. The Rise of Institutional Adoption and Meme coins Institutional interest in decentralized finance is another factor contributing to the rise of DEXs. Major financial institutions, once hesitant to enter the crypto space, are now exploring DeFi as a way to enhance transparency, security, and efficiency in their operations. The creation of funds on the Ethereum network by giants like BlackRock is a testament to the growing confidence in decentralized financial systems. As institutional players seek exposure to DeFi, they are increasingly turning to DEXs for their trading needs. This shift is further accelerated by advancements in blockchain technology, which are making it easier for institutions to integrate DeFi solutions into their existing systems. The result is a growing bridge between traditional finance and decentralized finance, with DEXs at the forefront of this integration. Now, let’s not forget about the meme coins. There is a new hysteria that seems to be only growing with time. No signs of fading or losing momentum even despite the fact that 97% of meme coins fail miserably. The remaining 3% help people make fortunes. And some of those appear on DEXs ages before they find their way to CEXs. The above-mentioned fortunes are more likely to happen on early stages with DEXs, then much later when a behemoth like Coinbase or Binance finally get their paws on those coins. That keeps driving more and more attention to DEXs. Conclusion The rise of DEXs over CEXs marks a significant evolution in the cryptocurrency landscape. Driven by the desire for greater security, privacy, cost efficiency, and access to new markets, traders are increasingly moving away from centralized platforms. The picture is not perfect for DEXs yet. There are significant problems with scalability and user experience. Sometimes users are simply more comfortable in the CEXs simple and effective environment. Ongoing innovations in blockchain technology are poised to address these issues. Nothing can stop evolution. And DEXs are likely to play an increasingly central role, not just for retail traders but also for institutional investors seeking to tap into the benefits of decentralized finance. The shift towards DEXs is more than a trend—it’s a fundamental transformation that could redefine the future of trading in the digital age.

Shiba Inu, the meme-turned-crypto-powerhouse, is upping its game. The project's marketing lead, Lucie, spilled the beans on Thursday. Liquid staking is coming to Shibarium, their layer-2 solution. Mark your calendars for September 18th. This isn't just another crypto gimmick. It's a big deal for SHIB holders. Shibarium aims to tackle the scalability issues plaguing many blockchain networks. It's all about faster, cheaper transactions. K9 Finance is the brains behind this operation. They're Shibarium's go-to for Liquid Staking Derivatives (LSD). Don't get it twisted – we're not talking about the psychedelic kind. Here's the lowdown: users can stake their BONE tokens through K9 Finance. In return, they get knBONE. It's like a tradable IOU for your stake. You can use it, trade it, or even use it as collateral elsewhere. The big dogs got first dibs on testing. Whales with at least 400 million KNINE DAO tokens were invited to the party in late July. They've been staking BONE, earning knBONE, and raking in extra rewards. Now, the gates are open to everyone. The testnet is live, and anyone can give it a shot. It's a chance to kick the tires before the main event. September 18th marks phase two of the project. They're calling it 'Boro'. It's named after some extinct bone-crushing dogs. Fitting, right? This is when the real action starts on Shibarium. But wait, there's more. Phase three, 'Caninae', is slated for Q4 2024. It'll bring a V2 launch and promises to be the "modern expectation of a fully decentralized liquid-staking derivative product". Whatever that means. Let's not forget about KNINE. It's K9 Finance's governance token, launched back in March. You could only grab it on Uniswap initially. Talk about exclusive. So, what's the big picture? Shiba Inu is trying to shake off its meme coin image. They're diving headfirst into DeFi. Will it work? Who knows. But one thing's for sure – the crypto world is watching.

Ethereum's layer-2 scaling ecosystem has hit a new milestone. Daily transactions reached a record 12.42 million on August 12. This data comes from Growthepie, an Ethereum layer-2 block space analytics platform. Leon Waidmann, head of research at the Onchain Foundation, chimed in on X. He reckons "scalability is improving rapidly" and "user activity is at its peak." No kidding. The numbers are pretty impressive. Since the start of 2024, daily transactions have shot up by 140%. That's not small potatoes. Growthepie's counting method is worth noting. They only include transactions from users or smart contracts. System transactions don't make the cut. So what's driving this growth? Look no further than Base, Coinbase's L2 blockchain. It's been on fire lately. In late July, transactions on Base peaked at over 4 million. Basescan, a metrics platform for Base, backs this up. They're reporting a whopping 700% increase in daily transactions over the past six months. That's bonkers. Earlier this year, Cointelegraph pointed to memecoin mania as the culprit. Token minters are flocking to Base for its lower costs and higher throughput. L2beat, another industry metrics platform, has some interesting insights. Overall throughput is up, with average TPS doubling in just two months. More scaling platforms are popping up too. Growthepie dropped another bombshell. Layer-2 networks now host more stablecoins than Solana and Binance Chain combined. We're talking 150% more than Solana and 94% more than BNB Smart Chain. Meanwhile, Ethereum's layer-1 is chugging along steadily. Daily transactions have hovered around 1.1 million for most of this year, according to Etherscan. But here's a kicker: average gas fees on L1 Ethereum have hit yearly lows. Tether, the stablecoin issuer, minted 1 billion Tether for just 53 cents on August 13. Arkham, a blockchain intelligence platform, confirmed this.

A new study has exposed the brutal reality of the meme coin market. Most of these tokens don't even make it to their first birthday. Chainplay, a GameFi data hub, dropped a bombshell report on August 13. They looked at over 30,000 meme coin projects across Ethereum, Solana, and Base. The findings? Pretty grim. A whopping 97% of all meme coins have already kicked the bucket. Over 2,000 disappear every month. Meme coins typically last just one year. That's way shorter than the three-year average for other crypto projects. But here's the kicker: people are still throwing money at them. Nearly 60% of investors see meme coins as quick bets. The report didn't pull any punches. It called out the "malicious" nature of many meme coins. More than half (55.24%) were flagged as dodgy. Base topped the naughty list. It had the highest rate of sketchy meme coins at 59.15%. Ethereum and Solana weren't far behind. Scams are rife in this Wild West of crypto. Almost a third of investors surveyed had been burned by meme coin cons. But it's not all doom and gloom. Audit reports can spot the frauds with 81% accuracy. Despite the risks, meme coins still draw a crowd. Two-thirds of crypto investors have dabbled in them. The lure of big gains is hard to resist. Newbie investors are particularly keen. Those in the game for less than six months often see meme coins as must-haves. The media's not buying it, though. Only 13.77% of news reports are bullish on meme coins. Yet, some platforms are raking it in. Pump.fun, a Solana-based meme coin factory, you've probably never heard of before, made over $5.3 million in just 24 hours. That's more than the combined revenue of Ethereum and Solana in the same period. Go figure. A meme coin that's really kicking it. So, what's the takeaway? Meme coins are a rollercoaster. Most crash and burn, but a lucky few soar. And these few are the ones that draw the most attention and are actually responsible for all the meme coin fuzz. Investors keep coming back for more, hoping to strike it rich. So the fuzz kinda works. It's a high-stakes game. For every Dogecoin success story, there are thousands of anonymous failures. The meme coin market isn't for the faint-hearted. It's volatile, risky, and often downright dangerous. But for some, the potential payoff is worth the gamble. As the crypto world evolves, meme coins remain its unpredictable wild child. They're derided by some, embraced by others, but impossible to ignore. Whether they're here to stay or just a passing fad, one thing's for sure: meme coins have left their mark on the crypto landscape. Love 'em or hate 'em, they're part of the digital currency story.

Cardano, once hailed as Ethereum's potential successor, is facing a tough reality check. The blockchain network's adoption has stalled over the past year. What's going on with Cardano? According to recent data from analytics firm IntoTheBlock, user base is stalled. The numbers don't lie. Cardano's total holder count remains unchanged from a year ago, stuck at around 4.45 million. This plateau follows a period of significant growth during the 2021 bull run. IntoTheBlock's analysis paints a sobering picture. New investors aren't flocking to Cardano like they used to. The network's appeal as an Ethereum alternative seems to have lost its shine. So, what's the deal? It looks like other networks are stealing Cardano's thunder. Solana and Base are now the cool kids on the block, attracting investors who might've considered ADA in the past. This stagnation isn't great news for Cardano. A growing user base is crucial for any asset's long-term success. Without it, ADA might struggle to make significant moves in the future. But it's not all doom and gloom. Cardano's showing some signs of life in other areas. Since April, the network has maintained a stable trend in daily active addresses. This suggests a committed core community is still using the blockchain regularly. IntoTheBlock puts it this way: "Despite the slowdown in new users, the network's transaction count and active user base have remained stable since April, indicating a committed community that continues to engage with the protocol." Here's another bright spot: Cardano's been processing a whopping $7.2 billion in daily volume lately. That's nothing to sneeze at, outpacing many rival networks. There's also a silver lining in terms of investor behavior. HODLing conviction seems to be on the rise, with nearly 40% of ADA supply sitting dormant for a year or more. Looks like some folks are playing the long game. The big question now is whether Cardano can break out of this rut and attract fresh blood. The crypto world moves fast, and ADA needs to step up its game if it wants to stay relevant. Only time will tell if this is just a bump in the road or a sign of bigger troubles ahead.

MetaMask, the popular Ethereum wallet, is rolling out a blockchain-based debit card. The card is developed with Mastercard and crypto payments firm Baanx. It's a big deal for crypto users. The initial launch is limited. Only a few thousand digital-only cards will be available. The rollout targets users in the EU and UK. MetaMask plans to expand distribution later this year. This move blurs the lines between traditional finance and digital assets. It's part of a larger trend. Global institutions are tokenizing bonds and credit. Asset managers are offering bitcoin ETFs. Payment giants are exploring blockchain tech. Mastercard's not new to this game. They've been working with Baanx on web3 payments. They're connecting traditional payments with crypto platforms. These include hardware wallet firm Ledger and decentralized exchange 1inch. Visa, Mastercard's rival, isn't sitting idle. They've partnered with Circle's USDC stablecoin and the Solana network. Their goal? Speeding up cross-border payments. Raj Dhamodharan, Mastercard's blockchain exec, sees potential. "We spotted a chance to make purchases easier for self-custody wallet users," he said. It's about making things more secure and interoperable. Baanx's chief commercial officer, Simon Jones, has bigger dreams. He reckons everyone with a mobile should have access to basic financial services. "This could be huge in countries with loads of unbanked folks," he added. The card works like your regular debit card. But here's the kicker: you can buy stuff directly with your MetaMask holdings. You keep control of your funds until you pay. Pretty neat, huh? Users can spend USDC, USDT, and wETH cryptocurrencies. These need to be held on the Linea blockchain. It's an Ethereum layer-2 network developed by Consensys, MetaMask's parent company. Lorenzo Santos from Consensys summed it up: "This gives people more freedom to spend their assets." It's all about options, folks. Crypto or cash, take your pick. The crypto world's changing fast. MetaMask's new card might just be the push it needs to go mainstream. Or it could be another flash in the pan. Only time will tell.

Crypto enthusiasts are going all in on XRP. The digital asset, once mired in legal troubles, is now the talk of the town. Why? A flood of traders are wagering it'll hit $1.10 soon. XRP's price has barely budged in the last day. It's sitting at $0.5684. The broader crypto market is up 1%. Over the week, XRP has climbed 13.5%. Monthly gains stand at 7%. But zoom out, and it's down 10% year-on-year. Not great, Bob. Ripple, the company behind XRP, recently settled with the SEC for a mere $125 million. You'd think this would send the price soaring. Nope. But here's where it gets juicy. Deribit, a crypto derivatives exchange, has seen a massive spike in call options for XRP. The strike price? $1.10. The charts paint a murky picture. XRP's indicators are all over the shop. It could go either way, really. Take the moving averages. The 30-day and 200-day lines are playing footsie. A breakout could be on the cards. The relative strength index is stuck at 50. Traders seem to be twiddling their thumbs. But hold up. The support and resistance levels are converging. This often signals a big move is coming. And those call options? They're hinting it might be upwards. A tweet from user @NekozTek spilled the beans. "There is very high activity in call options on XRP with a strike of $1.1 on the Deribit exchange," they wrote. Deribit's data backs this up. There are now 4,452,000 open contracts targeting the $1.10 price. That's a lot of bullish bets. XRP's been a bit of a laggard lately. But with Ripple's legal woes in the rearview mirror, things could be looking up. The company's just inked a deal with Dubai's financial innovation hub. They're aiming to boost blockchain adoption in the Middle East. Stuart Alderoty, Ripple's Chief Legal Officer, dropped a bombshell on CNBC. He claimed the SEC now wants to work with Ripple on a potential XRP ETF approval. If Ripple keeps expanding and an ETF gets the green light, $1 could be in the cards. But in this market, who knows?