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May 31, 2023
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News for Crypto World – AllCrypto.biz portal, your one-stop destination for the latest news, analysis, and insights from the world of cryptocurrency.

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Popular News

1

Synthetix (SNX) trading volume overtakes GMX, but is the DEX token rally sustainable?

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2

Bitcoin nears $27K despite ‘hot’ PCE data sparking June rate hike bets

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3

Bitcoin ‘buys the rumor’ on US debt ceiling as BTC price nears $27.5K

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4

2 more rate hikes? Bitcoin analyst counts down to ‘huge’ volatility

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5

Bitcoin dips 5% to key support in ‘moment of truth’ for crypto market

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6

Ethereum is ‘woefully undervalued’ but growing more powerful: DeFi Dad, Hall of Flame

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7

Longing for liquidity — 5 things to know in Bitcoin this week

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8

These 4 altcoins could be ready for an up-move if Bitcoin rallies above $27,500

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9

$160K at next halving? Model counts down to new Bitcoin all-time high

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10

Bitcoin price capitulation below $26K possible as Friday’s BTC options expiry looms

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11

Bitcoin flips volatile at $27K as Fed’s Powell teases end to rate hikes

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12

Ordinals turned Bitcoin into a worse version of Ethereum: Can we fix it?

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13

How much is Bitcoin worth today?

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14

Sink or swim at $27K? 5 things to know in Bitcoin this week

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15

Bitcoin price retests key support as Fed rate hike fears steal $27K

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16

‘One of the greatest’ Bitcoin metrics says BTC price bull run is here

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17

Bitcoin offers ‘good signs’ as analysts retain $40K BTC price target

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18

3 reasons why Ethereum price could struggle at the $1.9K level

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19

BTC price bounces at $25.8K lows amid warning over low whale interest

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20

Bitcoin price hits $27.2K, but new analysis warns more losses ‘likely’

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21

‘Don’t short when it’s dark green’ — How to trade the 2024 Bitcoin halving

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22

The Ethereum Foundation just sold $30M in Ether — But will ETH price fall this time?

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23

Coinbase screws up, Florida bans CBDCs, and Ordinals face controversy: Hodler’s Digest, May 7-13

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24

BTC price risks $27K loss as Bitcoin trend lines brew ‘bullish cross’

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25

Bitcoin bears need BTC price to go below $27K ahead of Friday's $900M options expiry

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26

Ethereum derivatives flirting with bearishness: Mind the $1,820 support

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27

Alameda’s $38B IRS bill, Do Kwon kicked in the assets, Milady frenzy: Asia Express

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28

Joe Lubin: The truth about ETH founders split and ‘Crypto Google’

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29

Does Bitcoin price risk losing $28K with BTC futures premium at 2-month lows?

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30

3 signs PEPE token is about to trap bulls after 2,000% price rally

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31

Bitcoin miners have earned $50B from BTC block rewards, fees since 2010

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32

Bitcoin eyes liquidity above $30K as gold hits new all-time high

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33

Bitcoin trader eyes $63K BTC price for new Bollinger Bands ‘breakout’

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34

Ethereum price outlook weakens, but ETH derivatives suggest $1.6K is unlikely

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35

Bitcoin limps into FOMC as flagging volume adds to BTC price hurdles

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36

Bitcoin drops with stocks as analyst warns of banking crisis ‘endgame’

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37

BTC price may need a $24.4K dip as Bitcoin speculators stay in profit

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38

Bitcoin sell-off next? Binance BTC balance shoots up $1.5B in 1 month

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39

Bitcoin miners earned $50B from BTC block rewards, fees since 2010

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40

Will $28K Bitcoin price hold? Two indicators remain solid despite 5% pullback

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41

China’s wave of ChatGPT rivals, Alibaba goes multichain: Asia Express

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42

‘Good luck bears’ — Bitcoin traders closely watch April close with BTC price at $29K

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43

Shirtless shitposting and hunting SBF on the meme streets: Gabriel Haines, Hall of Flame

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44

Got liquidated with Bitcoin futures? Get 3.5x leverage using this options strategy

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45

Bitcoin ignores US jobs data as BTC price dip puts $28K support at risk

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46

Whatever happened to EOS? Community shoots for unlikely comeback

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47

Dogecoin soared 23,000% in 2021 — Is history starting to repeat for DOGE price?

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48

Bitcoin price struggles to hold above $30K amid regulatory uncertainty

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49

Ether price struggles to maintain support as regulatory challenges and network issues weigh

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50

Bitcoin price can ‘easily’ hit $20K in next 4 months — Philip Swift

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51

Bitcoin price holding $27K could open buying opportunities in BNB, ADA, XMR and TON

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52

Ethereum price lower highs vs. Bitcoin hint at more downside in April

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53

Dogecoin price limps below a key support after Dogeday turns into a sell-the-news event

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54

BTC price dives 3% in minutes as ‘deep correction’ grips crypto market

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55

Bitcoin at key point with BTC price at $28.8K — Bollinger Bands creator

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56

From SNL and The Tonight Show to Sotheby’s:  NFT Creator Bryan Brinkman

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57

Bitcoin on-chain data highlights the steps BTC is taking to exit the bear market

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58

Ethereum on-chain data forecasts the withdrawal of 1.4M ETH over the next few days

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59

Bitcoin price spikes above $31K as Ethereum gains spark ‘altseason’ calls

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60

Can Ethereum crack $2K? ETH price inches closer despite new unlocked supply

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61

What Bitcoin bear market? BTC price closely copying old halving cycles

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62

Ronin (RON) bags a 500% gain as the gaming-focused project approaches a major upgrade

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63

3 signs Arbitrum price is poised for a new record high in Q2

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64

Bitcoin derivatives data shows bulls positioning for further BTC price upside

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65

Bitcoin glory on Chinese TikTok, 30M mainland users, Justin Sun saga: Asia Express

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66

BTC price targets see $33K next as Bitcoin eyes key resistance flip

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67

Ethereum price metrics hint that ETH might not sell-off after the Shapella hard fork

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68

Bitcoin price sets up for an explosive move as ADA, XLM, AAVE and CFX turn bullish

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69

‘Pop or drop?’ Bitcoin analysts decide if BTC price will beat $30K

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70

Bitcoin whales push ‘choreographed’ BTC price as Ether nears $2K

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71

NFT Creator, The Sarah Show: Analog childhood meets dizzying digital future

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72

Bitcoin rests at $28K as US jobs data boosts new Fed rate hike bets

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73

BTC white paper hidden on macOS, Binance loses AUS license and DOGE news: Hodler’s Digest, April 2-8

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74

XRP price eyes 30% upside after key resistance area breaks

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75

3 key Ethereum price metrics cast doubt on the strength of ETH’s recent rally

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76

Bitcoin traders expect ‘big move’ next as BTC price flatlines at $28K

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77

Bitcoin ‘faces headwinds’ as US money supply drops most since 1950s

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78

Ethereum price turns bullish ahead of next week’s Shanghai and Capella upgrades

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79

Arbitrum FUD spooks the market, but on-chain data shows whales accumulating ARB

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80

Zhu Su’s exchange did $13.64 in volume akshually, Huobi in crisis: Asia Express

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81

Crypto security audits and bug bounties are broken: Here’s how to fix them

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82

Trader Joe joins top 5 DEX list as Liquidity Book model thrives on Arbitrum

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83

Crypto market momentum stalls as traders await the results of recent regulatory actions

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84

Bitcoin price turns $28K to support, opening the door for ETH, MATIC, HBAR and EOS to breakout

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85

Binance-CFTC FUD puts BNB price at risk of dropping toward $200

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86

XRP price: 'sell the news' moment nears after crypto-leading 20% weekly gain

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87

XRP price tags 10-month high — Can a 35% pullback be avoided?

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88

Solana overcomes FTX fiasco — SOL price gains 100% in Q1

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89

Why did 12K Bitcoin margin longs close at Bitfinex, and why didn’t it impact BTC price?

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90

Analysts debate the ETH price outcomes of Ethereum’s upcoming Shapella upgrade

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91

Bitcoin price holds its ground in the wake of CFTC case against Binance

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92

Bitcoin spikes above $29K as ‘fakeout’ fuels BTC price strength doubts

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93

ARB price to $2? Ethereum L2 rival Arbitrum will double in April, fractal suggests

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94

Elon Musk slams ‘heavy-handed’ Fed as ex-BitMEX CEO sees $1M BTC price

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95

Crypto market rally stalls at the $1.2T level, but bulls are getting positioned

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96

Bitcoin price will hit this key level before $30K, survey says

  • Markets
97

Why is Cardano price up today?

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98

Bitcoin erases Fed losses as traders eye $40K BTC price target

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99

Bitcoin is 1 week away from 'confirming' new bull market — analyst

  • Markets
100

Bitcoin liquidations vanish as trader hopes $30K will hit before dip

  • Markets
101

Ethereum faces 6-month lows versus Bitcoin — Will ETH price rebound?

  • Markets
102

Arbitrum’s ARB token signifies the start of airdrop season — Here are 5 to look out for

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103

Bitcoin bulls remain bullish, but macro and crypto-specific hurdles have BTC pinned below $30K

  • Markets
104

Ethereum price at $1.4K was a bargain, and a rally toward $2K looks like the next step

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105

Bitcoin rejects at $25K as US PPI data meets Credit Suisse meltdown

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106

Speculators flock to Arbitrum IOU tokens ahead of this week’s ARB airdrop

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107

Investors shelter in short-term Treasurys, reducing Bitcoin’s chance of rallying to $30K

  • Markets
108

Will the Fed stop rate hikes? 5 things to know in Bitcoin this week

  • Markets
109

Bitcoin levels to watch as BTC price eyes highest weekly close in 9 months

  • Markets
110

Bitcoin price hits $27K in new 9-month high as Fed injects $300B

  • Markets
111

Bitcoin market cap grows 60% in 2023 as top Wall Street banks lose $100B

  • Markets
112

Ethereum price reaches lowest level relative to Bitcoin in 5 months

  • Markets
113

Bitcoin dominance nears 50% as research hails ‘bullish’ narrative flip

  • Markets
114

4 signs the Bitcoin price rally could top out at $26K for now

  • Markets
115

Lark Davis on fighting social media storms, and why he’s an ETH bull: Hall of Flame

  • Markets
116

Why is Ethereum (ETH) price down today?

  • Markets
117

US bank bloodbath: Bitcoin hits $23.7K as BTC price analyst calls SVB dip ‘bear trap’

  • Markets
118

Dogecoin hits 4-month lows vs. Bitcoin — 50% DOGE price rebound now in play

  • Markets
119

Bitcoin price spikes to ‘$26K’ in USDC terms — How high can the BTC short squeeze go?

  • Markets
120

Fed starts ‘stealth QE’ — 5 things to know in Bitcoin this week

  • Markets
121

Why is XRP price up today?

  • Markets
122

Why is Ethereum (ETH) price up today?

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123

Bitcoin battles $20K as trader calls bank chaos ‘2008 all over again’

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124

Cathie Wood’s ARK ignores Silvergate, buys Coinbase stock for 6th straight month

  • Markets
125

Ethereum price action and derivatives data confirm bears are currently in control

  • Markets
126

$920B is the number to watch now that crypto’s trillion-dollar total market cap is gone

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127

Warning sign for ETH price? Ethereum volume profile is down 90% since March 2020

  • Markets
128

Bitcoin keeps liquidating longs as BTC price action gives up $22K support

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129

Bitcoin price levels to watch as trader says ‘lights out’ below $21.6K

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130

Bitcoin price would retest $25K without Silvergate saga — analysis

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131

Bitcoin price faces ‘last stand’ as weekly close threatens $22K retest

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132

Ethereum eyes 25% correction in March, but ETH price bulls have a silver lining

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133

Bitcoin price stumbles amid investors’ aversion to risk assets, but there is a silver lining

  • Markets
134

Ethereum price resistance at $1,750 could reflect traders’ anxiety over the Shanghai upgrade

  • Markets
135

Fears over Silvergate, $8B hole at FTX, senators seek Binance’s numbers: Hodler’s Digest, Feb. 26 – March 4

  • Markets
136

$3M OKX airdrop, 1-hour due diligence on 3AC, Binance AI — Asia Express

  • Markets
137

Bitcoin’s least volatile month ever? BTC price ends February up 0.03%

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138

Bitcoin on-chain data highlights key similarities between the 2019 and 2023 BTC price rally

  • Markets
139

Bitcoin ‘millionaires’ increased 140% as BTC price crossed $20K — data

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140

Here’s why STX, CFX, SSV, AGIX and GRT are the top performing assets in February

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141

Bitcoin may only need 4 weeks to hit $30K as key monthly close looms

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142

SBF’s new charges, Shapella’s fork date and emojis as financial advice: Hodler’s Digest, Feb. 19-25

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143

THETA, LIDO, KLAY and EGLD flash bullish signs as Bitcoin recaptures $23K

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144

Bitcoin price eyes $24K retest as US dollar dives into monthly close

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145

BTC whale population shrinks to early 2020 levels — 5 things to know in Bitcoin this week

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146

How Fantom and Optimism’s DeFi and DApp development directly affects FTM and OP price action

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147

Bitcoin price tumbles to 10-day lows as ‘Notorious B.I.D.’ keeps support at $22.5K

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148

Bitcoin price stays under $24K as PCE data helps US dollar to near 7-week highs

  • Markets
149

Bitcoin regains $25K amid hope record China easing will boost BTC price

  • Markets
150

Why is Bitcoin price down today?

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151

Ethereum derivatives data suggests $1,700 might not remain a resistance level for long

  • Markets
152

Bitcoin sees fresh $25K rejection as pre-Wall Street volatility returns

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153

'Stupid money' Ether investor loses over $2M in six months — 3 lessons to learn

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154

Bitcoin price continues to fall, but derivatives data hints at a short-term rally to $25K

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155

Bitcoin bears attempt to pin BTC price under $23K ahead of this month’s options expiry

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156

A ‘snap back’ to $20K? 5 things to know in Bitcoin this week

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157

Bitcoin must leverage $1T central bank liquidity to beat sellers — Research

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158

Bitcoin can hit $40K before BTC price sees ‘harsh correction’ — Analyst

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159

Bitcoin Lightning Network growth is organic, coming from real-world adoption

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160

Bitcoin bulls aim to hold this week’s BTC gains leading into Friday’s $675M options expiry

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161

Bitcoin metric prints ‘mother of all BTC bullish signals’ for 4th time ever

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162

China’s only public blockchain, Conflux, sees CFX price skyrocket 1,300% in 2023

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163

Polygon ecosystem development and upcoming zkEVM launch add to MATIC’s bullish momentum

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BTC price cools on latest US data as Bitcoin liquidates $80M in shorts

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  • Crypto

What is a supernet, and how does it work?

3 months ago3 months ago19 mins

Supernets enable communication among distinct blockchain networks, considerably improving the usefulness of the overall system by enabling the transfer of assets and data among different blockchains.

Furthermore, shared infrastructure and resources can be made possible by interconnected networks, which can lower costs and boost overall effectiveness. By making assets accessible across numerous networks, they can significantly improve their liquidity, which will raise the assets’ value.

This article will discuss the concept of a supernet, how to implement supernetting, the advantages and disadvantages of supernetting, and how it’s different from a subnet.

What is a supernet?

A supernet, also known as a metanet, is a network of networks that allows interoperability and cross-communication among different blockchain networks. The idea behind a supernet is to create a decentralized network that allows different blockchain platforms to communicate and interact with one another without the need for a centralized intermediary, creating a unified ecosystem. Moreover, the effectiveness and speed of transactions and communications among various blockchains can be significantly increased as a result. 

A supernet also has the advantage of facilitating the development of new decentralized services and apps that can combine the strengths of many blockchains. This may create fresh opportunities for development and innovation in the blockchain industry. Cross-chain communication is another feature of supernet that enables chains to connect and transact with one another, increasing the value for users.

Related: What are DApps? Everything there is to know about decentralized applications

How does a supernet work?

To implement a supernet, various protocols and technologies, such as atomic swaps, cross-chain communication protocols and sidechains, are used. These technologies allow different blockchains to communicate and interact with one another and can be thought of as a kind of “bridge” between different networks.

Atomic swaps, sometimes referred to as atomic cross-chain trade, enable cryptocurrency trading without the use of centralized intermediaries. This is accomplished by developing a smart contract on one blockchain that encrypts the assets being traded, unlocks them once the trade is complete, and releases them on the other blockchain. This allows assets to be transferred between blockchains without the need for a centralized exchange. 

To enable communication and interaction across several blockchains, cross-chain communication protocols, such as Cosmos and Polkadot, are employed. These protocols enable the exchange of information and assets among many blockchains and the development of decentralized apps that can combine the advantages of various blockchains.

Another technology utilized in a supernet is sidechains. A sidechain is an additional blockchain that is connected to a main blockchain and permits the movement of assets between the two. This allows for greater scalability and privacy, as well as the ability to experiment with new technologies and consensus mechanisms without affecting the main blockchain.

How to supernet a network

A supernet, or network of networks, can be built using a variety of technologies and protocols, and it is a complicated process. Here is a general overview of the steps involved in creating a supernet:

Identify the networks to be connected

The process of building a supernet begins with identifying the various blockchain networks that are to be linked. To facilitate smooth communication and interaction, these networks should have identical protocols and objectives.

Implement atomic swaps

A crucial piece of technology to enable the transfer of assets among various blockchains, atomic swaps allow cross-chain trade among various blockchains.

Develop cross-chain communication protocols

Cross-chain communication protocols, such as Cosmos and other corresponding protocols, must be created to enable communication and interaction across various blockchains. These protocols enable the exchange of information and assets between several blockchains.

Create sidechains

A sidechain is a separate blockchain that runs parallel to a main blockchain and is connected to it through a two-way peg. This means that assets can be transferred from the main blockchain to the sidechain and vice versa. Each sidechain in a supernet has a specialized function, such as providing privacy and scalability or supporting particular assets.

Test and deploy

Once the supernet infrastructure is set up, it’s vital to test it thoroughly before deploying it. This step will help identify and fix any bugs or errors that may exist.

Promotion

The next stage once the supernet is set up is to promote the use of the brand-new infrastructure. Building a developer community, forming alliances with other initiatives, and putting in place rewards for people who join the network can all help achieve this.

The above steps offer a general overview of creating a supernet and the process can be complex and require different levels of expertise, depending on the specific use case.

How to identify a supernet address

A network address that is produced by fusing many network addresses is known as a supernet address. The process of identifying a supernet address is called supernetting or classless inter-domain routing (CIDR).

The following steps can be used to identify a supernet address:

Steps to identify a supernet address

For instance, let’s say there are two networks:

Two networks to generate a supernet address

To supernet these two networks, one needs to find the largest network mask that can encompass both of them. In this case, the largest mask that would work is a /23 mask (255.255.254.0). The new network mass can be obtained by counting the shared leading bits in the network section of the addresses. This allows one to generate a supernet address by aggregating both networks into a single, larger network, which they can represent as:

Supernet address

This supernet can be used in place of the two individual networks, and any IP address within the range of the supernet will be routed to the correct destination network. Supernetting helps to reduce the number of routes in the routing table, making it easier for routers to manage network traffic and improving the efficiency of IP address usage. However, it is important to note that the process of supernetting requires a good understanding of internet protocol (IP) addressing and network subnetting.

Advantages of supernetting

CIDR is a technique used to create a supernet address by combining multiple network addresses. It has several advantages, including:

  • Efficient use of IP addresses: More effective use of IP addresses is made possible by supernetting, which joins several networks into a single supernet. This can aid in IP address conservation and prevent IP address depletion.
  • Improved routing efficiency: Supernetting can help minimize the number of entries in routing tables, which can lower the amount of memory and processing power needed to route traffic, resulting in improved routing efficiency.
  • Easier network management: Supernetting can make network management easier by reducing the number of networks that need to be managed and configured. This can help to simplify network administration and reduce the number of errors and misconfigurations.
  • Increased security: By lowering the number of computer networks and potential attack surfaces, supernetting can also improve security by making it more challenging for hackers to breach the network.
  • Interoperability: It is a central feature of the SuperNet network and is achieved through the use of sidechains and cross-chain atomic swaps. This allows users to manage and trade digital assets across different blockchains in a seamless and efficient manner.
  • Scalability: Supernetting enables the construction of networks that may be expanded or contracted as necessary to meet changing demands.

Despite the above advantages, supernetting should be done with caution, as it can also introduce new security risks if not done properly.

Disadvantages of supernetting

While supernetting, also known as CIDR, has many advantages, there are also some potential drawbacks to consider:

  • Complexity: It can be a challenging technique that necessitates a solid grasp of IP addressing and network subnetting to perform supernetting. Furthermore, it may necessitate the use of specialized software and hardware, increasing the cost and network complexity.
  • Security risks: If supernetting is done incorrectly, it can create new security problems. Combining several networks into a single supernet might increase the attack surface and make network security more challenging.
  • Compatibility issues: Supernetting can create compatibility issues with some network devices or software that may not support CIDR.
  • Increased complexity in routing: Supernetting can make it risky to find the proper path for packets, which can lead to an increase in routing complexity. Increased latency and poorer network performance may result from this.
  • Lack of granularity: Supernetting can make it more difficult to segment a network and create smaller, more secure subnets. Access control to particular network resources or devices may become more difficult as a result.
  • Limited scalability: Supernetting can limit scalability in the sense that it can create difficulties in adding new networks to the existing supernet.

However, the above drawbacks of supernetting can be mitigated by proper planning and execution and by using appropriate security measures to protect the network.

What is the difference between a subnet and supernet?

A smaller network, often called a subnet or subnetwork, is produced by segmenting a larger network into smaller, easier-to-manage networks. Subnetting divides a network into smaller, independent portions, improving structure and security. 

Each subnet can be established and managed independently, and it can have its own set of network addresses. In large networks, such as those used by businesses or organizations, subnetting is a typical practice. On the other hand, multiple networks are linked together to form a supernet, which enables them to interact and communicate with one another to form a single ecosystem.

Here is a summary of supernetting vs. subnetting:

Subnet vs. Supernet

How to manage supernets

A thorough understanding of IP addressing and network subnetting is necessary for managing a supernet. Here are some general requirements for managing a supernet:

Develop a network plan

A thorough network strategy that specifies the goals and objectives of the network, as well as the particular requirements for each unique network that will be included in the supernet, must be created prior to the implementation of the supernet.

Establish governance

Establish clear lines of responsibility and decision-making processes for the supernet. This includes determining who will be responsible for managing the network, who will have access to it, and who will be able to make changes to the network’s configuration.

Train the staff

The supernet management team must possess the knowledge and abilities required to set up and run the network. They ought to receive instruction on how to use the particular technologies and protocols employed by the supernet.

Plan and implement network integration

Establish how the various networks will be connected to one another and how they will exchange resources as part of the bigger network integration. Then, install the required hardware and software to link the networks together and incorporate them into the supernet. This could comprise network management software, switches, routers and firewalls.

Use appropriate security measures

The use of proper security mechanisms, such as firewalls, intrusion detection, prevention systems and other security technologies, is essential to ensuring the network’s security.

Monitor and maintain the network

The network must be regularly monitored and maintained to ensure that it is operating effectively and that any problems are found and fixed quickly.

Use centralized management tools

Centralized management tools can help to simplify the management of the supernet by providing a single point of control for the entire network.

Keep the software updated

If the software is kept up to date, the network can be protected against known vulnerabilities and run the most recent security patches.

Document and troubleshoot

The network is easier to comprehend and administer with proper documentation and troubleshooting.

Test the network

Network testing on a regular basis might help find and fix any potential problems. Regular penetration testing and other security testing technologies can be used to accomplish this.

Overall, it is important to have a strong understanding of network infrastructure, security and management practices in order to effectively manage a supernet.

Tagged: and crypto does how supernet, what work

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Synthetix (SNX) trading volume overtakes GMX, but is the DEX token rally sustainable?
Synthetix weekly trading volumes surpassed $1 billion, overtaking decentralized derivatives exchange GMX to become the second-most active platform. The trading volume data from Token Terminal shows that Synthetix did more than twice the trading of GMX in the seven-day period starting May 17, thanks to Optimism (OP) token incentives for perpetual swap traders. The Synthetix...
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