China News Daily Official TheBitTimes.com

A widely followed crypto strategist and trader thinks that rallies are in sight for two altcoins amid upcoming catalysts. Pseudonymous trader Pentoshi tells his 847,800 followers on the social media platform X that he thinks the Ethereum (ETH)-based automated staking service Lido DAO (LDO) is gearing up for a steep move up. The analyst believes that traders will enter long positions on LDO amid speculations that US regulators will approve the staking of ETH held in spot Ethereum exchange-traded funds (ETFs). “LDO Probably violent repricing when the filings come in the next couple of weeks… If you believe ETH staking will be approved, then LDO is likely a great bet. So far, the price seems to be appreciating rapidly and has begun to start to price this in.”  Source: Pentoshi/X Looking at the trader’s chart, he seems to be targeting $3.612 for LDO. At time of writing, LDO is worth $1.95 Another altcoin on the trader’s radar is Ondo...

Bitcoin is approaching its all-time high as investors anticipate a market shift following the upcoming U.S. presidential election. On Tuesday, Bitcoin’s price rose to $73,577, approaching its previous high of $73,750, last recorded on March 13, based on Yahoo Finance data. As of now, it trades below $72,000. According to a digital asset strategist, the key drivers behind this recent price surge include seasonal factors—October’s second half is historically favorable for Bitcoin—and anticipation surrounding the U.S. election. This positive momentum in Bitcoin could influence the broader cryptocurrency market, potentially leading altcoins to see similar gains. With this outlook, many market participants are closely watching altcoins as potential opportunities for strong returns. InsideBitcoins has identified some of the best cryptocurrencies to invest in right now .  Best Cryptocurrencies to Invest in Right Now Conflux recently partnered with Footprint Ana...

LidoDAO took control of the deployment for a wrapped version of its flagship token, stETH, on Base. Lido’s governing body has approved the deployment of Lido’s Wrapped Staked Ether (wstETH) to Coinbase’s Base network, according to a Nov. 8 announcement. The token is now live and can be traded or used in decentralized finance (DeFi) applications on the Base network. Lido is on @BuildOnBase You can now bridge your staked ETH to Base. https://t.co/JmmFeVwNnN pic.twitter.com/R9vN2XGs2g — Lido (@LidoFinance) November 8, 2023 Lido is a liquid staking protocol that allows users to stake some cryptocurrencies while simultaneously using them in DeFi applications. It does this by issuing a derivative token that can be redeemed for the underlying staked one.  In the case of Ethereum’s native coin, Ether (ETH), the derivative token is called “Lido taked Ether (stETH),” which exists on the Ethereum network. When it is sent to other networks through a bridge, it has to first be wrapped, crea...

The 22% self-limit rule ensures at least four major staking entities would need to collude in order for the chain to reach finalization. At least five Ethereum liquid staking providers have either imposed or are working to impose a self-limit rule in which they promise not to own more than 22% of the Ethereum staking market — seen as a move to ensure the Ethereum network remains decentralized. Among the Ethereum staking providers either already committed or are working to commit to the self-limit rule include Rocket Pool, StakeWise, Stader Labs and Diva Staking, according to Ethereum core developer Superphiz. Puffer Finance, another liquid staking service , also announced its commitment to the self- limit .  These providers are committed (or are in the process of committing) to self-limit to <22% of Ethereum validators. This is how our chain will be successful: Coordination above greed. Cooperation instead of winner-take-all.@Rocket_Pool @stakewise_io @staderlabs @divastaking ...