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A New Liquid Restaking Paradigm: Lista DAO (Everything You Need to Know)

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Liquid staking and, by extension – liquid restaking – have been some of the most interesting and fast-growing narratives in the past year.

Lista DAO is introducing an open-source liquidity protocol that’s designed to earn yield on collateralized cryptocurrencies such as BNB, ETH, certain stablecoins, and other assets, while also enabling the borrowing of the protocol’s decentralized stablecoin called lisUSD.

The team also coined the term “destablecoin,” which is used to describe the decentralized nature of lisUSD.

With that in mind, let’s dive deeper into Lista and its intricacies.

lista_dao_cover

What is Lista DAO?

Lista DAO (decentralized autonomous organization) brings forward a liquidity protocol for earning yields on multiple cryptocurrencies, as mentioned above.

It is made of a dual token model, where the two native cryptocurrencies are lisUSD (destablecoin) and LISTA. It also has a set of mechanisms that are engineered to support features such as instant conversions, borrowing, yield farming, asset collateralization, and more.

The team behind Lista consists of experienced smart contract developers, according to the main website, who aim to position lisUSD as one of the most widely-used decentralized stablecoins by leveraging Proof-of-Stake and yield-bearing assets.

About LisUSD, the Destablecoin

Destablecoin is a term used to describe a relatively new asset type in the industry. The “de” prefix stands for “decentralized.”

These destablecoins take advantage of decentralized crypto assets that have been staked through a liquid-staking protocol as collateral and do not aim to achieve absolute stability in terms of price with fiat currencies like the USD.

In that sense, they are not fully volatile but definitely carry more volatility relative to absolute stablecoins.

It’s also true that destablecoins are different than all the different types of stablecoins out there.

  • They are entirely decentralized. lisUSD, for instance, will be using decentralized assets as collateral, unlike DAI, for example, which leverages USDC.
  • Destablecoins also leverage assets staked on liquid-staking platforms.
  • As mentioned above, destablecoins don’t aim to achieve absolute price parity with the USD or other fiat-based currencies.

Lista DAO and its Features

Lista DAO is designed to provide users with the abilities to:

  • Participate in the governance of the protocol through LISTA tokens
  • Claim rewards for borrowing lisUSD in LISTA
  • Farm lisUSD
  • Borrow lisUSD
  • Collateralize BNB

The intent behind the protocol is to deliver a solution for a problem that hs been experienced for a long time by some users – that of overcollateralized stablecoins for users who try to leverage their funds with a collateral dept position (CDP).

Lista uses a combination of features such as the functionality of the MakreDAO model, liquid staking, as well as more liquidity from liquidity providers (LPs) on decentralized exchanges to avoid issues such as frozen funds.

The Tokenomics of Lista DAO

As mentioned above, there’s a dual token model in place where lisUSD is the active destablecoin of the protocol, while the LISTA token is its native cryptocurrency.

The purpose of LISTA is to:

… provide a convenient and secure mode of payment and settlement between participants who interact within the ecosyste on Lista DAO without any intermediaries such as centralized third party entity/institution/credit.

It’s a BEP-20 and ERC-20 compatible token. It shall also be used to promote decentralized governance, where holders can propose and vote on proposals to determine upcoming upgrades, features, and parameters of the protocol.

The total supply will be 1,000,000,000. The token distribution looks like this:

Screenshot 2024-06-17 at 12.50.47
Source: Lista

The tokens will be allocated per the following timetable:

Screenshot 2024-06-17 at 12.51.29
Source: Binance

How to Participate in the Binance Megadrop

Lista will be the second project that Binance is launching through the so-called Binance Megadrop platform.

10% of the LISTA supply will be allocated and reserved for users who participate in the campaign.

The program aims to provide users with very early-stage access to some Web3 projects before they get listed on major exchanges.

In the following, you can find a step-by-step guide on how to participate.

First, you will need a Binance account.

You can register one using this link and also earn a $600 welcome bonus as an exclusive deal for CryptoPotato readers!

Once you have this done, you need to navigate to the Megadrop section and lock your BNB to earn scores. This is also where you can subscribe your BNB and lock it for a certain period of time. This will earn you a score.

The longer the subscription period is, the higher the multiplier will be too.

The next thing that you should do is Web3 quests. You will need the Binance Web3 wallet. You can creat yours from the Binance mobile app. Just navigate to your wallets tab at the bottom and then tap on the Web3 button at the top as shown below:

From here, simply follow the instructions, which will lead you to generating your Web3 wallet. Once you have that ready, navigate back to the Megadrop section and simply hit the start Quest at the bottom and you will have to stake some with Lista.

The total score you receive will always be a combination of your locked BNB score, your quest multiplier, and your Web3 quest bonus. here’s the formula:

Total Score = (Locked BNB Score * Web3 Quest Multiplier) + Web3 Quest Bonus.

If you choose not to do quests and simply stake BNB, you will get a multiplier of 1.

This post has been powered by Lista DAO.

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Cryptocurrency

Ethereum Foundation, Whales, and Hackers: What’s Driving the ETH Sell-Off?

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TL;DR

  • Whales, hackers, and the Ethereum Foundation wallets moved over $500M in ETH through large sales and withdrawals.
  • Ethereum transfers rose to 4.6M ETH, nearing the monthly high of 5.2M recorded in July.
  • Staking inflows hit 247,900 ETH, the highest in a month, locking more supply from trading.

Large Withdrawals and Whale Activity

Ethereum (ETH) has seen heavy movement from major wallets over the past few days. On-chain data from Lookonchain shows a newly created wallet pulled 17,591 ETH, worth $81.62 million, from Kraken in just two hours. 

Over three days, two new wallets withdrew a combined 71,025 ETH, valued at $330 million, from the exchange.

One of these wallets, address 0x2A92, has withdrawn 53,434 ETH, worth $242.34 million, in two days. This includes a recent purchase of 30,069 ETH, valued at $138.46 million, during a market drop.

Major ETH Holders Offload Millions Amid Price Rally

In contrast, several separate entities have been disposing of some ETH holdings. A wallet tied to a hacker address 0x17E0 sold 4,958 ETH for $22.13 million at $4,463, securing a profit of $9.75 million. Earlier this year, the same address sold 12,282 ETH at $1,932 and later bought back part of the amount at higher prices.

A different whale sold 20,600 ETH for $96.55 million over the past two days, generating a profit of more than $26 million after holding the position for nine months. 

Meanwhile, an Ethereum Foundation-linked wallet, 0xF39d, sold 6,194 ETH worth $28.36 million in the last three days at an average price of $4,578. 

Recent sales from the same wallet included an additional 1,100 ETH and 1,695 ETH for over $12.7 million combined.

Network Activity on the Rise

CryptoQuant data shows Ethereum’s total tokens transferred have been climbing since August 9. After ranging between 1 million and 3 million ETH through late July and early August, transfers have risen to 4.6 million ETH, approaching the monthly high of 5.2 million recorded in mid-July. This increase has occurred alongside a price rally from about $3,400 to $4,600.

Ethereum (ETH) Tokens Transferred (Total)
Source: CryptoQuant

Interestingly, staking inflows generally stayed between 20,000 and 80,000 ETH per day over the past month. On August 14, inflows jumped to 247,900 ETH, the highest in the period. 

At the time, ETH was trading near $4,600. Large staking deposits reduce the amount of ETH available for immediate trading, as staked coins are locked for a set period.

Ethereum (ETH) Staking Inflow Total
Source: CryptoQuant

In the meantime, ETH trades at $4,647 with a 24-hour volume of $68.25 billion, down 2% on the day but up 19% over the week.

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Massive DOGE Whale Activity Hints at $1 Breakout

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TL;DR

  • Whales bought two billion DOGE this week, lifting their combined holdings to 27.6 billion coins.
  • A single 900M DOGE transfer worth $208M to Binance drew attention to large exchange movements.
  • DOGE broke key resistance, with momentum building for a possible push toward the $1 price mark.

Price and Market Moves

Dogecoin (DOGE) traded at $0.23 at press time, slipping 4% over the past day but still showing a 2% gain for the week. Daily turnover came in at about $6.18 billion. 

Meanwhile, the broader crypto market saw over $1 billion in liquidations. Hotter-than-expected US Producer Price Index data pushed traders to scale back expectations of a near-term Federal Reserve rate cut. DOGE had roughly 290,500 coins liquidated during the sell-off.

On the two-week chart, analyst Trader Tardigrade notes that DOGE has cleared a downward-sloping resistance line after completing what appears to be a “wave V” in an Elliott Wave sequence. Similar setups in the past, where prolonged declines stayed within falling channels before breaking higher, have been followed by sharp rallies.

Momentum gauges are also turning up. The Stochastic RSI, which had dropped into oversold territory, is now heading higher. Previous reversals from this zone have coincided with sustained upward moves. The current formation points to a possible run that could carry DOGE past the $1 mark.

Heavy Whale Buying and Large Transfers

As reported by CryptoPotato, blockchain data shows large investors have added two billion DOGE in the past week, spending just under $500 million. That brings their holdings to about 27.6 billion coins, or 18% of the supply. The buying streak has prompted speculation within the community. 

Recently, Whale Alert flagged a 900 million DOGE transfer worth about $208 million into Binance. The tracking indicates that it originated from a wallet connected to the exchange, likely as an internal activity. The address involved holds 2.88 billion DOGE, one of the largest balances on the network.

Ali Martinez also reports that transactions above $1 million reached a one-month high, with activity building since early August and peaking as DOGE traded at $0.25.

Sentiment Building

Analyst Gordon described the current setup as “a nice bit of consolidation” before a potential breakout, adding, 

“This will be one of the first coins normies FLOCK to & the pump will be MASSIVE.”

With whale accumulation rising, high-value transfers increasing, and a bullish technical pattern in play, DOGE is positioned for a potential push toward $1 if momentum holds.

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Ripple Price Analysis: XRP at Risk as Key Support Levels Could Trigger Sharp Drop

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XRP has recently entered a consolidation phase after a strong rally earlier this summer, with the price action now hovering around key resistance levels on both its USDT and BTC pairs. Yet, while momentum has slowed, the charts still indicate a generally bullish structure, with multiple key support levels remaining firmly in place.

Technical Analysis

By ShayanMarkets

The USDT Pair

On the XRP/USDT daily chart, the price is currently trading near the $3.10 mark, facing a strong resistance zone around $3.40. This follows a breakout above the $2.70 range in July, which has now flipped into a support area.

Both the 100-day and 200-day moving averages are also trending upward and recently formed a bullish crossover around $2.45, reinforcing the medium-term bullish sentiment. If the $3.40 resistance breaks, a push toward the critical $4.00 range becomes likely.

However, the RSI hovering near the neutral 50 level suggests a lack of strong momentum for now, meaning a short-term pullback into the $2.80 support zone is still possible.

This zone will be key for maintaining the bullish structure. Losing it could open the door for a deeper correction toward the 200-day moving average located around the $2.40 mark. Yet, as long as the price stays above the moving averages, the broader trend remains bullish.

The BTC Pair

Looking at the XRP/BTC chart, the pair has recently pulled back after hitting the 3,000 SAT resistance, with the price currently around 2,600 SAT.

This follows a clean breakout above the long-term descending channel and a successful retest of its upper boundary, which coincided with the 200-day moving average and the 2,400 SAT support zone. This confluence remains a key bullish technical factor, as holding above it could attract renewed buying pressure.

That said, RSI levels around 48 show that momentum has cooled after the sharp July rally, meaning XRP may continue ranging between 2,400 SAT and 3,000 SAT in the near term. A decisive close above 3,000 SAT would likely open the path to the 3,400 SAT zone, while losing 2,400 SAT could shift the bias back toward 2,000 SAT support. For now, the structure still favors the bulls as long as higher lows remain intact.

 

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Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.

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