[Bibox]Bank of America Sees Support for Bitcoin Rally as Personal Wallet Hoarding Increases
Keywords of this article:Bitcoin,BTC
According to a recently drafted note by analysts from Bank of America (BofA), investors are intensifying their efforts to move crypto to personal wallets, which market observers interpret as an indication of lower 'sell pressure' on Bitcoin(BTC).
During the week through April 4, a period which showed the second-largest net BTCoutflow from cryptocurrency exchanges this year, a net $368m worth of the top crypto was transferred to personal wallets, BofA strategists Alkesh Shah and Andrew Moss wrote in a note obtained by Bloomberg.
The two analysts further stated that "investors transfer tokens from exchange wallets to their personal wallets when they intend to hold them (or HODL), indicating a potential decrease in sell pressure."
In their note, the strategists said that concerns triggered by the US regulatory clampdown on crypto exchanges could be the main factor causing the efflux from platforms
Possible Impact of Upcoming Economic Data
Bloomberg News’ latest survey presents a median estimate of a 5.1% jump in March compared with a year earlier. Some crypto market observers believe that the BTC price could respond positively to any figures demonstrating weakness in the US consumer sentiment.
With Bitcoin’s price reaching above $30,000 this week for the first time since June 2022, the top crypto is up more than 80% since Dec. 31.
“Bitcoin has stopped reacting to bad news,” commented Nathan Batchelor, the managing partner at data analysis platform Biyond Trader. “This is a tell-tale sign of a strong buyers’ market.”
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Update time: 2023.04.13 09:03:45
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[Bibox]Crypto wallet provider Ledger raises $109M as demand for self-custody soars
Hardware wallet provider Ledger has raised 100 million euros ($109 million) in a Series C funding round extension, placing its valuation at 1.3 billion euros ($1.4 billion), in line with its previous funding in June 2021, Bloomberg reported on March 30. The funding is the first of three investment rounds.
According to the report, a second closing is due in April, followed by a third funding to take place at a later date, given “high investor interest.” The capital will be used to expand the company’s distribution network, increase production, and develop new products.
Ledger's new investors include VaynerFund, Cité Gestion SPV, True Global Ventures and Digital Finance Group. Previous investors include Morgan Creek, Cathay Innovation, Draper Dragon and Cap Horn, among others.
In a recent interview with Cointelegraph at Paris Blockchain Week, Ledger CEO Pascal Gauthier noted that the collapse of crypto exchanges and banks in recent months had raised the level of awareness about crypto self-custody. “Whenever the market gets stressed and whenever people fear for their savings, you know, they rush to crypto and to Ledger,” Gauthier noted.
Ledger reportedly had its best month of sales in November following the dramatic collapse of the crypto exchange FTX. According to the company, revenue from Ledger Live’s buy-and-sell crypto app has grown 200% in the past 12 months. Hardware wallet provider Trezor also benefited from FTX's failure, reporting a 300% surge in sales revenue as a result of investors rescuing their funds.
Ledger claims to store more than 20% of crypto assets in circulation and 30% of the nonfungible tokens supply. Among recent moves, the company hired Tony Fadell, a builder of the iPhone, to design a new version of its hardware wallet.
Prominent figures in the industry have also encouraged crypto self-custody. “Self custody is a fundamental human right. You are free to do it anytime. Just make sure you do it right,” Binance CEO Changpeng Zhao said in November, advising investors to start small and learn the technology.
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[Bibox]Crypto wallets combat scammers with transaction previews and blocklists
United States-based crypto exchange Coinbase has become the latest crypto wallet provider to roll out transaction previews and blocklists amid a rise in crypto thefts.
On Jan. 30, the crypto exchange announced that it had integrated a new suite of safety features to its wallet app to make it easier for users to spot and take action on potential foul play from scammers.
Such integrations include a transaction preview feature that gives the user an estimation of how users’ “token and NFT balances will change” during a transaction before the confirm button is hit.
Wallet, Coinbase, Transactions, Phishing
The firm has also rolled out token approval alerts, which make it clear to the user when a decentralized application dApp is requesting approval to withdraw tokens and nonfungible tokens (NFTs).
Additionally, the firm has also introduced new layers of permission management that enable users to revoke DApp connections directly from the app to help minimize “exposure to potential vulnerabilities.”
The crypto exchange joins the ranks of several other crypto wallet providers that have either rolled out or announced similar features aimed at combating crypto scams and phishing attacks, including Solana-based Phantom, Web3 wallet provider Ember and Bitski.
Just two days after Moonbirds creator Kevin Rose admitted to losing $1.1 million in NFTs via a targeted phishing attack, Phantom reminded users on Jan. 27 that its wallets are protected with a number of security features which include transaction previews, an open-source blocklist, NFT spam reporting and burning.
The firm explained its transaction preview feature: "when you take an action in Phantom, like minting an NFT, we scan your transaction and proactively find anything that looks fishy. Website looks fishy? You get a warning. Trying to obfuscate code? Warning. Interacting with suspicious tokens? Warning.”
The open-source blocklist consists of a “community-maintained list of malicious domains” that Phantom blocks users from mistakenly connecting with.
Tweeting on the same day as Phantom, Web3 wallet provider Ember detailed the list of its own security tools.
The list includes translation previews, token and NFT locking to stop assets being drained as part of malicious transactions, and approval revoking.
On Jan. 24, Bitski also indicated that it was working on similar integrations via its 2.0 wallet, with product designer Jasmine Xu noting that this will cover “self custody, dapp browser, transaction simulation previews, notifications about account activity, in-app burner vault, and a bunch more in a few weeks.”
In its most recent blog post, Coinbase said in the coming weeks, the firm will launch a feature so that users can “view and revoke existing token balances.”
These types of features are important for crypto and NFT users, as scammers/hackers deploy a wide array of tools to hijack transactions and get funds sent to them instead of the originally intended destination.
Popular methods that dupe even experienced users include phishing attacks, scam airdrops directing people to click on malicious links, and malware.
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[Bibox]Foresight Ventures: Decentralized identity and wallet system, redefining identity in Web3
The potential value of DID is very large, and it will capture the huge value second only to the public chain.
Compared with projects such as Defi and gamefi, DID has low enough entry barriers and understanding costs, and has a strong Matthew effect. It is expected to become a super entrance for users to enter web3.
DID can provide the same personalized content as web2, and at the same time, it can ensure that we have our own identity, preferences, and account information from being leaked and profited by others.
The identity layer on the chain brings new possibilities. It redefines the rights of identity, re-changes the power of identity, and returns the power of data realization to users.
We divide the DID identity stack into private key management layer-authentication layer-authorization layer-proof layer. The proof layer has unique data advantages and is the product form with the most potential to make a unified DID.
The competition for wallets in the future will be extremely fierce, not only the existing EOA wallet and aa wallet competition, but also cross-track players at the certification level may join the competition to provide users with a better identity account system and DID ecology.
1. What is DID decentralized identity
DID is the abbreviation of Decentralized Identifiers, that is, decentralized identity. The focus of DID is decentralization, and then identity. In the world of web3, how we maintain a unified identity in a decentralized environment and how to use our identity is what we want to discuss in this article.
a. Traditional centralized identity
In the centralized platform of web2, our every sentence, every transaction, and every behavior are collected and recorded by the platform to analyze our preferences, habits, etc. to form user portraits. For the web2 platform, this is their tool for harvesting traffic. Fine user portraits plus big data algorithms push articles, videos, and even the next product you may like to your face, so that users can stay on this platform, while the centralized platform has how to control And the way to realize the traffic. this means
Control of platform content: For any creator who wants to provide content for platform users, when their content is deemed to be illegal or does not meet platform standards, they lose the opportunity to share their views.
Control user data: All data generated on the platform is essentially the content written into the platform's database, which is owned by the centralized platform. That is to say, the platform can modify or even delete the user's personal information and account at any time. For example, Gmail once deleted the user's Gmail account and emails due to manual review errors, and the user lost everyone's contact information overnight
b. Classification of Decentralized Identity
DID provides a new possibility that users have complete control over the generation of identities and the use of identities. In the year from the proposal of DID to the crazy discussion in the market, we have seen different solutions based on the understanding of DID-based decentralized identity, from
The data type angle division includes
VC is the abbreviation of Verifiable Credential, a standard proposed by W3C in March 2022, and verifiers can prove its authenticity.
In the process of using VC, there will be three roles. The claimer holds the certificate, and the data in it needs to meet the requirements of fields, data types, and data sorting that match the certificate type. The notary Attester checks the data and confirms it is valid. Then use the private key to sign the VC, and then the verifier can verify the authenticity and validity of the certificate without touching the notary and only needs to see the signed data.
VC itself is a standard that provides standards for different subjects to verify data. Although a certain degree of decentralization has been achieved, VC data does not necessarily need to be uploaded to the chain, so the user's data ownership is not guaranteed. At the same time, what VC describes is not the identity of the user, but only a certificate that meets a certain standard, such as education and medical insurance. Therefore, in the long run, VC may become the standard for Internet verification, but it is not a decentralized identity.
Soulbound NFT, Soulbound NFT does not support on-chain transfer, which means that SBT only belongs to a specific on-chain address
Based on the Soulbound NFT proposed by Vitalik, the data and information carried by NFT are "soulbound" in the user's wallet address, which adds non-transferable attributes and solves the illusion that the user has achievements or experience by purchasing NFT or achievements. , which binds the unity of user behavior and identity
But the other side of the soul binding is that it cannot be untied with NFT and user identity. In addition to the active display of POAP or NFT by the user, the user's address can be maliciously airdropped NFT or maliciously tagged. Under such circumstances, the user can only be forced to accept and will be publicly displayed on the chain, causing the user's reputation loss or even transaction failure, etc.
Onchain reputation The reputation on the chain reflects the identity of the user through the interactive behavior on the chain
A successful transaction means that it is written into the block on the chain and can be viewed and verified publicly. Of course, ZKP provides a way to directly verify the transaction result without publishing the specific transaction content. But every transaction and interaction of users on the chain can be recorded and analyzed. Whale alert itself is based on publicly visible data on the chain to track the behavior of large households. Nansen’s Smart Money label can be said to vividly display what Black Swan author Nassim Taleb said Don’t tell me what you think, show me your portfolio . The Degen score goes one step further, by analyzing the data on the chain, extracting the score as the proof of the user's Degen, providing a new identity label,
However, these labels themselves lack reasonable context and background introduction. For example, the address marked by smart money may only be one of the wallet addresses of the institution, and the selling or purchasing behavior of a single address may not fully infer the institution's strategy. Maybe this is just one leg of the delta neutra strategy. The act of an address alone is not enough to form a complete identity. Moreover, the reputation on the chain may be deceptive, because the user can compensate for the interaction after the event, or the illusion of reputation formed by purchasing in the secondary market. Of course, it is also possible to judge whether it is an ex-post compensation through the timeline and NFT transaction records, but This kind of on-chain data itself is a lag proof.
Decentralized domain name, the decentralized domain name opened by ENS can be said to be a kind of decentralized identity itself, and ENS's ETH-based name positioning and huge wealth effect have become a symbol of identity
ENS can directly reflect the identity through the name of the address by converting the seemingly garbled wallet address into a readable address. At the same time, the first launch effect and brand influence of ENS has basically become the domain name with the most application scenarios. At the same time, ENS can edit the content of websites and subdomain names, providing opportunities for customizing identities. At the same time, ENS is composable as an on-chain contract, and different applications can be combined on the chain. For example, Philand generates a metaverse unique to the user through ENS-related information, and Kola lab generates music NFT based on the user's ENS. The visualization of information can be said to be the representative of the composability of DID
However, the transaction attribute of ENS can untie user identity and domain name identity, losing the continuity of identity. At the same time, the interaction based on the wallet address is still limited to the transaction information on the chain. At the same time, ENS is currently only based on the Ethereum main network. Facing the current Layer2, Layer3 and other multi-level networks and multi-chain environments, it may not be comprehensive and may not be accurate. , A complete description of a user's identity, see the discussion of the wallet for details.
Wallet address, as the entrance for users to interact with dapps on the chain, it can be said that for DAPP and other wallet addresses are users, and the transaction records on the chain are the portraits of users.
Taking the wallet on the chain as an identity, such as Nansen smart wallet, can also be understood as the DID of the user in the transaction scenario. But in fact, a user may have multiple wallet accounts, and the transaction behavior of each account is different. For example, one of the wallets of an institution is doing unilateral strategy, and the other wallet is only doing delta neutra arbitrage behavior, so a single wallet It cannot fully represent the actual behavior of a user. Moreover, in a multi-chain environment, each wallet is also an independent account, and users may have different transaction behaviors on different chains, so a single wallet on a certain chain cannot completely represent the user's DID
At the same time, Lens, Galxe, etc. have also derived social graphs and Profile NFT social portraits through on-chain behaviors. However, most of the interactive behaviors on the chain are transactions. At present, there is a lack of social application scenarios to provide social behaviors on the chain. Of course, we think that when the data infrastructure is perfect and the cost of on-chain is reduced, we can see a lot of social data in the future, so as to obtain more valuable social relationships
Stealth address Stealth address, the latest stealth address proposed by Vitalik can separate the right to use and view the wallet address, ensuring the isolation of user identity and assets
The characteristic of the blockchain is openness and transparency. For users, the identity of the user can be deduced through asset information and behavior on the chain. In the latest article, Vitalik proposed a new stealth address, which is temporarily generated by the user who initiates the transfer through elliptic curve encryption. Public key and private key, and then combined with the address of the receiving account to generate a secret address and transfer to this address, the receiving user can use his own private key combined with the temporary public key to see the assets of the secret address and receive money later Talent has the right to control this asset. It is equivalent to cutting off the connection with the user's identity with a one-time new address.
But as Vitalik said, every time a new address is generated, it faces the problem of Gas payment. Although only the payee can control the account assets, the new address does not have enough Gas to pay the transfer fee. At the same time, the privacy of the secret address is only the privacy of the payee on one side, and it is still a transparent operation on the chain for the payer. The problem of Gas can be paid by abstract wallet management or relayer, and Vitalik proposes to use ZKP to prove the ownership of users and secret accounts, and even imagines that different addresses can be used for different DAPPs, allowing users to manage DAPPs. Visible information and assets. Of course, it is still difficult to implement ZKP, cross-chain and wallet design. We look forward to seeing new projects put forward implementation plans.
Cross-platform Avatar, the three-dimensional character image is more in line with our imagination of identity, and cross-platform Avatar can ensure the unity of identity
Although the flat PFP NFT is also used as an avatar as a representative of identity, NFT itself is tradable and it is difficult to form a binding relationship between identity and NFT. The 3D properties of Avatar provide a visual image, and at the same time, it has a more unique identity as an avatar of our metaverse. Like ready player me and Lifeform's Avatar NFT can support users to edit appearance and image, and can be used across platforms. Like Lifeform's Avatar NFT itself is an NFT on the chain, which can be directly compatible with the metaverse on the chain, and even off-chain meetings including Zoom , Google, etc. ensure the unity of identity. After that, we can even look forward to a personalized metaverse, which will display more information about our own identity in a customized personal metaverse.
Although Avatar NFT is a more three-dimensional identity, at present, Avatasr NFT shows more about appearance and appearance. It is just a single identity image, and does not include more behaviors or other information that define identity. After that, we can expect Avatar NFT combines metadata or composability to display more information.
c. Key attributes of DID
identity composability
In fact, DID can be more than an identity, just like our identity may consist of ID card, driver's license, education, etc., a single certificate and product form may not be enough to describe our complete identity, but a combination of products applicable to different scenarios form our full identity. The difference is that the identity information under the chain cannot communicate with each other due to the fragmentation of different central communication systems. After the data is uploaded to the chain, it has fluidity and can support different arrangements and combinations, showing the user's identity in a more three-dimensional image, such as imagining various games. The achievements of SBT can be displayed in the user's personal Avatar NFT as a wearable medal, or the assets and transactions on the chain based on the wallet address can obtain lower interest in the lending agreement, which can include the composability of data sources , the composability of different application scenarios, and even the composability between different DIDs
Privacy and Security of Identity Data
At the same time, because the environment on the chain is publicly visible data, we need to pay attention to
1) Privacy: In the dark forest on the chain, it is very unsafe to disclose identities and related bound accounts and asset information, especially for the information on the chain that mainly focuses on financial transaction scenarios, exposing wallet addresses and transaction behaviors is Very dangerous, so DID privacy for associated asset information should be a necessity. At the same time, maintaining anonymity is one of the needs of many encrypted native users. At present, we have seen open source plug-ins such as semaphore and DIDs that provide privacy such as Firstbatch
2) Security: including information security and asset security. Information security mainly refers to the security of personal information, which may include information such as identity, address, and education background under the chain, as well as wallet addresses and transaction behaviors on the chain. It is possible to expose these information It brings about personal safety issues, and at the same time, the authorization behavior on the chain is often prone to the possibility of being hacked or maliciously attacked. Therefore, proper data processing and security must be ensured for the collection, storage, and use of personal information data. Although most projects now.
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[Bibox]Cardano Records 50,000 New Wallets – Will ADA Price Soar?
Cardano has recorded an excellent price trend for the last few days. Despite a slight pullback in the price, it still shows enormous signs of promise. One of the factors driving this charge is its developmental strides, as the network recently launched its sidechain toolkit.
The Cardano Network has become a developer’s hub and allows users to build Decentralized Applications (dApps) on its blockchain. Its increasing utility may have translated into a growing interest in the project.
New Wallets Added To The Network
Cardano has seen its market share increase considerably, adding over 50,000 wallets to its protocol this month. Yevhen, a Cardano ambassador, was delighted to share these statistics on Twitter. He stated that the total Cardano wallets increased from 3,842,867 on January 1 to 3,894,735 registered wallets by January 25, 2023.
This growth reflects increased adoption of ADA and more on-chain activity among users. Cardano’s market cap has also exploded from $8.48 billion recorded late last year to $13 billion today. After the launch of its Sidechain Toolkit, Cardano developers hinted at a launch date for its Djed stablecoin project.
Shahaf Bar-Geffen, in an update from the COTI network, announced on January 25 that the Cardano stablecoin Djed would launch next week. Although the date was unclear, a timeline was created for the Cardano community.
Djed is a stablecoin that the developers intend to power the Cardano ecosystem. COTI, in partnership with Cardano’s Input Output (IOG) team, has developed the stablecoin. The coin yet to be launched is linked with over 40 partners for its proper utilization.
The COTI network stated that it was putting the finishing touches as the chain index syncing process commenced over a week ago. The developers said they intend to include a snapshot mechanism in their User Interface (UI). Other features have been added and will unravel when the token launches.
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[Bibox]The Easy Company secures $14.2M funding for new crypto wallet with social features
The Easy Company, a startup focusing on building a consumer layer for the decentralized web, has raised $14.2 million in a seed round for its “social” crypto wallet, which seeks to help onboard more mainstream audiences into the Web3 ecosystem.
As reported by Bibox, the seed funding round was supported by a diverse group of investors, including venture capital firms Lobby Capital, Relay Ventures and 6th Man Ventures, as well as Tapestry, Upside and Scribble. Additionally, the round featured angel investors with backgrounds in traditional social media and Web3, including former executives from Instagram, Novi, Airbnb, Twitter, Uber, OpenTable and Eventbrite.
The wallet is said to be available to the public on iOS and Android after completing a 30-day private testing phase. According to Easy’s CEO, Mike Dougherty, the company aims to combine user-curated profiles with engaging social features so that people can search, navigate and discover the world of Web3 on their own.
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"My Wallet" and Asset Transfer
Bibox Account System
"My Wallet" carries the functions of lending, deposit and withdrawal of coins, fund allocation, reward receiving and coin deposit investment. The user's assets are stored in "My Wallet" by default.
Before performing various transaction operations, please transfer the assets to the corresponding accounts (including Coin Account, Leverage Account, Futures Account, etc.) according to your needs.
【Web】
1. Enter the "Assets" page, you can see the "Wallet", "Coin Account", "Leverage Account", "Futures Account", "Trading Bot Account".
2. Click "Transfer" on each page to realize the free transfer of funds between accounts (without transfer fees). After the transfer is completed, relevant transactions can be carried out.
Or you can enter the trading page (Take exchange trading as an example), click the transfer button
below to make an asset transfer.
【APP】
1. Enter the "Assets" page, you can see the "Wallet" and the accounts of "Token", "Leverage", "Futures" and “Bot”.
2. Click "Transfer" on each page to realize the free transfer of funds between accounts (without transfer fees). After the transfer is completed, relevant transactions can be carried out.
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【Event】Datawallet (DXT) World Premiere on Bibox,1,000,000DXT to Giveaway
Time:2018.3.9 11:00 - 2018.3.14 11:00 (Beijing Time)
During the event period, trading DXT/BTC, DXT/ETH on bibox, we will rank by Net Deposit(Deposit+Withdraw)+Trading Amount(Buys+Sells), the top 1,0001 winner will share 1,000,000DXT by proration.
* The final interpretation of this activity is on Bibox*
Cheating is not allowed, all trades that we deem to be cheat trades will not count to your trading volume for the competition. For the serious case we will block your Bibox account.
Reward Distribution Time: Within 5 business days after the event.
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Update time: 2022.07.11 08:29:33
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【News】Bibox Lists Datawallet (DXT)
Dear Bibox users:
Bibox launches Datawallet (DXT),
2018.3.9 11:00 (Beijing Time) open deposit and withdrawal;
2018.3.9 14:00 (Beijing Time) open DXT/BTC, DXT/ETH trading pairs.
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Risk warning:
Crytocurrency investment carries risks. Please assess the risks and invest careful.
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Bibox >> Announcement >> New Listing
Update time: 2022.07.11 08:28:09
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【News】Bibox Lists Datawallet (DXT)
Dear Bibox users:
Bibox launches Datawallet (DXT),
2018.3.9 11:00 (Beijing Time) open deposit and withdrawal;
2018.3.9 14:00 (Beijing Time) open DXT/BTC, DXT/ETH trading pairs.
---
Datawallet (DXT) World Premiere on Bibox,1,000,000DXT to Giveaway:Click for Detail
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Crytocurrency investment carries risks. Please assess the risks and invest careful.
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