Market

$1 Million Up for Grabs

Published

4 months ago

July 10, 2024

Coin2049 Newsletter

Jump Crypto and Immunefi have launched a bug bounty program that allows developers to earn up to $1 million. The program, centered on enhancing “Firedancer,” an independent Solana validator client, started on Wednesday, July 10, and will continue until August 21.

The parties aim to bolster Solana network security by engaging a global community of developers.

Developers Have 42 Days to Find Critical Bugs in Solana Firedancer

This first-ever program for Firedancer invites participants to a 42-day challenge. The reward pool is $1 million in USD Coin (USDC). Impressively, a single developer could secure the entire sum by identifying a critical vulnerability.

“Firedancer v0.1 will respond within 24 hours on weekdays to all bug reports. When the Boost has ended, Immunefi will publish an event-specific leaderboard and bug reports from the event,” Immunefi said.

Psuedonomyous developer Cantelope Peel of Jump Crypto is leading the development of Firedancer v0.1. Moreover, earlier today, he announced that the Solana testnet has accepted the first block from the Firedancer client.

The launch of Firedancer is expected to significantly enhance the performance of Solana’s network, which has $4.438 billion in total value locked. As an independent client validator, Firedancer plays a crucial role in processing transactions and building blocks, contributing to the network’s scalability and efficiency.

Solana Total Value Locked. Source: DefiLlama

Operational in the C and C++ programming languages, Firedancer is equipped to manage high-volume trading. Initially deployed on a Solana testnet in November 2023, it has proven ready for wider implementation.

The development of Firedancer responds to past challenges faced by Solana, including multiple network outages. Although 2024 has seen just one outage in February, the memory of six disruptions in 2022 highlights the need for improved stability and performance. These enhancements aim to prevent future issues.

Anatoly Yakovenko, co-founder and CEO of Solana Labs, remains optimistic about Firedancer’s potential to speed up the network and decrease the risk of outages. This initiative aims to strengthen the network and also rebuild trust among users and investors within the Solana ecosystem.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.

Source link

Market

Ethereum Price Rise Targets $3,000: Will It Cross the Mark?

Published

5 hours ago

November 8, 2024

Coin2049 Newsletter

Ethereum price started a fresh increase above the $2,720 resistance. ETH is up over 10% and now approaches the key barrier at $3,000.

Ethereum started a fresh surge above the $2,720 resistance zone.
The price is trading above $2,750 and the 100-hourly Simple Moving Average.
There is a new connecting bullish trend line forming with support at $2,820 on the hourly chart of ETH/USD (data feed via Kraken).
The pair could continue to rise if it clears the $2,950 resistance.

Ethereum Price Extends Its Increase

Ethereum price started a fresh increase above the $2,650 resistance like Bitcoin. ETH was able to climb above the $2,720 and $2,750 resistance levels to move further into a positive zone.

It even surged above the $2,850 level in the past few sessions, beating BTC. It is up over 10% and there was a move above $2,920. A high is formed at $2,955 and the price is showing signs of more upsides. It is well above the 23.6% Fib retracement level of the upward move from the $2,355 swing low to the $2,955 high.

Ethereum price is now trading above $2,800 and the 100-hourly Simple Moving Average. There is also a connecting bullish trend line forming with support at $2,820 on the hourly chart of ETH/USD.

On the upside, the price seems to be facing hurdles near the $2,920 level. The first major resistance is near the $2,950 level. The main resistance is now forming near $3,000. A clear move above the $3,000 resistance might send the price toward the $3,120 resistance.

An upside break above the $3,120 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $3,250 resistance zone.

Are Dips Limited In ETH?

If Ethereum fails to clear the $2,950 resistance, it could start a downside correction. Initial support on the downside is near the $2,850 level. The first major support sits near the $2,820 zone and the trend line.

A clear move below the $2,820 support might push the price toward $2,720. Any more losses might send the price toward the $2,650 support level in the near term. The next key support sits at $2,550.

Technical Indicators

Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone.

Hourly RSI – The RSI for ETH/USD is now above the 50 zone.

Major Support Level – $2,820

Major Resistance Level – $2,950

Source link

Market

XRP Price Gains Fade Once Again: Will Support Hold?

Published

6 hours ago

November 8, 2024

Coin2049 Newsletter

Aayush Jindal, a luminary in the world of financial markets, whose expertise spans over 15 illustrious years in the realms of Forex and cryptocurrency trading. Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis.

From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation.
As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape.

In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions.

Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he’s trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences.

Aayush’s journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department.

At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he’s poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush’s unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe.

In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.

Source link

Market

BNB Price Set to Surge: Could It Be the Next Big Mover?

Published

7 hours ago

November 8, 2024

Coin2049 Newsletter

BNB price struggled to stay above the $600 zone. The price is consolidating gains and might aim for a fresh increase above the $605 level.

BNB price started a downside correction from the $612 resistance zone.
The price is now trading above $590 and the 100-hourly simple moving average.
There is a connecting bullish trend line forming with support at $595 on the hourly chart of the BNB/USD pair (data source from Binance).
The pair must stay above the $588 level to start another increase in the near term.

BNB Price Holds Support

After a close above the $585 level, BNB price extended its increase. However, upsides were limited above $610 and the price remained capped unlike Ethereum and Bitcoin.

There was a move below the $605 and $600 levels. The price even dipped below the 23.6% Fib retracement level of the upward move from the $543 swing low to the $611 high. However, the price is now holding gains above the $580 level.

The price is now trading above $595 and the 100-hourly simple moving average. There is also a connecting bullish trend line forming with support at $595 on the hourly chart of the BNB/USD pair.

If there is a fresh increase, the price could face resistance near the $605 level. The next resistance sits near the $612 level. A clear move above the $612 zone could send the price higher. In the stated case, BNB price could test $620. A close above the $620 resistance might set the pace for a larger move toward the $632 resistance. Any more gains might call for a test of the $650 level in the near term.

More Losses?

If BNB fails to clear the $605 resistance, it could start another decline. Initial support on the downside is near the $595 level and the trend line. The next major support is near the $578 level or the 50% Fib retracement level of the upward move from the $543 swing low to the $611 high.

The main support sits at $570. If there is a downside break below the $570 support, the price could drop toward the $560 support. Any more losses could initiate a larger decline toward the $550 level.

Technical Indicators

Hourly MACD – The MACD for BNB/USD is losing pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BNB/USD is currently below the 50 level.

Major Support Levels – $595 and $578.

Major Resistance Levels – $605 and $612.

Source link