Insights and analysisEditorial office

The weekly compass navigator

Tanja Nechet

News editor

Jan 31, 2024 at 06:32

Greetings, fellow travelers of the digital frontier!  Join us as we navigate the currents of innovation, uncovering the latest trends, news, and insights. 🚀

Here is what you’ll find below:

  • Ethereum founder Vitalik Buterin is 30 today. He has published a new blog article, “The end of my childhood”;
  • Ripple has been hacked;
  • Notcoin analog from HERE Wallet;
  • Solana’s new record; 
  • Upcoming key crypto market events for February 1-7;
  • Several ideas worth of keeping your eyes on them.



🎂 What Vitalik Buterin writes about in his 30s

The co-founder of the Ethereum project, Vitalik Buterin, published a new article on his blog. He talked about the four components of the cryptocurrency sector, and recalled a trip to China in 2014, when he saw the scaling of exchanges and the development of the mining industry, in particular, the increase in bitcoin mining farms using GPUs and ASICs.

The brand new newsletter with insights, market analysis and daily opportunities.

Let’s grow together!

He also mentioned how the development of Ethereum was going and how this blockchain could be used in non-financial applications.

Vitalik also writes about how AI has cracked Silicon Valley, his visit to Taiwan in 2016 and 2017, Argentina, and the start of a full-scale war in Ukraine. Here is the full article.


📛 Ripple’s in trouble

Ripple appears to have been hacked for about 213M XRP (about $112.5 million). This was reported by popular on-chain analyst ZachXBT. According to his message, so far the stolen funds have been laundered through MEXC, Gate, Binance, Kraken, OKX, HTX, HitBTC, etc.

Co-founder and Executive Chairman of Ripple Chris Larsen has confirmed that there was unauthorized access to his few personal XRP accounts on January, 30. Exchanges have frozen the affected addresses.


👜 HERE Wallet presents their analog of Notcoin

HERE Wallet team released instructions on how to participate in HOT token mining via Telegram bot similar to Notcoin. 

How to get HOT

  • Install the app (Android); 
  • Import the seed phrase from HERE Wallet into the Telegram bot
  • Start farming HOT by pressing the Claim button;
  • Watch the Storage indicator (pick up every 2 hours); 
  • Complete other tasks to increase productivity. 

🥇 Solana makes headlines again

According to The Block, transaction volume on the Solana network crossed the $951 billion mark in January, which is a “multi-year high”.

*Transaction volume is a measure of the economic throughput of SOL and SPL tokens on the Solana blockchain. The included SPL tokens are USDC, SRM, RAY, ETH, and USDT. The chart only includes successful transactions.


🔑 Key crypto market highlights (February 1-7)


💲 Ideas

[1] 🔔 Collecting Puffers

Puffer is a native restacking protocol (nLRP) built on top of EigenLayer. The project has raised $5.5M from Lemniscap and Lightspeed Faction, Brevan Howard Digital, Bankless Ventures, Animoca Ventures and others. 

Puffer recently launched Puffy’s Crunchy Carrot Quest campaign with 5 chapters.

The first chapter is available now with a 1000-point prize for completing it.

The pre-mainnet stage will start on February 1. In it, users will be able to deposit ETN and get in return pufETH, for which will be given puri Puffer, and for deposit before February 9 also points Eigen (the usual LST yield is also taken into account).

The team promises 3x Puffer points to those who withdraw from EigenLayer stETH and make a deposit into their protocol. 

Keep in mind that the withdrawal from Eigen lasts for 7 days.


[2] 🔔 What’s next for XRP?

According to RLinda’s technical analysis, XRP, Ripple’s cryptocurrency, is currently being tested at a level where the trend seems to be changing after leaving a triangular pattern. Traders are increasingly interested in Ripple, despite uncertain factors affecting it. Now, the market has good potential for further upside to 0.7325. 

There’s also speculation about the possibility of an XRP-ETF (Exchange-Traded Fund), but legal issues between Ripple and the SEC (U.S. Securities and Exchange Commission) could affect Ripple’s future, with legal proceedings expected to happen in late winter 2024.

Support levels: 0.493, 0.420, trend support

Resistance levels: 0.585, 0.648, 0.7325

*Any technical analysis in the long run cannot accurately predict the movement because now is a very tough market and the news can swing currencies in all directions


[3] 🔔 Suiswap’s first IDO is confirmed

Suiswap is a decentralized trading platform and exchange built on the SUI blockchain by Vivid Network.

Suiswop is about to launch the first IDO on their launchpad (the launchpad is designed with the SSWP token). No detailed information is available yet, but the first project will be from the Solana ecosystem (SOL). 

Users can participate in staking SSWP tokens, for which, in addition to the possibility of participating in future sales, the team promises an airdrop. The amount of 🏆 will depend on the number of tokens staked.

APR

  • 8% in 3 months;
  • 15% in 6 months;
  • 22% for 12 months.

All information provided on this website is for educational and informational purposes only. Please consult with our Disclaimer.

Home » Insights and analysis » The weekly compass navigator

Your complaint has been sent to a moderator