Crypto Markets Update
The past two weeks have been quite terrible for the Crypto markets, with Bitcoin prices once again trading around the $20,000 level. The problems started with the bankruptcy of Silvergate, a bank that offered cryptocurrency services. As it seems, it was comments made by some politicians that ended up causing a bank run. But things didn’t end there, as later this week we got news of a second bank, SVB, which is going through a similar situation. However things are a bit different for SVB, as it is the 14th largest in the United States, and contagion to other financial institutions is likely. The whole drama has also caused almost every stablecoin to depeg, since there is uncertainty about the capacity to access the funds that are backing their value. This is the case of USDC for example, which is backed to some extent by deposits in SVB.
For the moment it is difficult to understand the repercussions of all these events, but they are likely to be big. For one thing, it is widely perceived that the root of the problem is the Fed’s quantitative tightening policy. Faced with the collapse of several large financial institutions, the Fed will once again come under pressure to pivot and relax their monetary policy. Markets are anticipating that this will probably happen, even though inflation is still far from the 2% target. It is just very difficult to imagine that the Federal Reserve would allow for a total collapse of the financial system, just to stay true to their mandate of controlling inflation.
StakeCube in Numbers
Big increase in Pool Value, which is nice to see in an environment where almost every single Crypto is crashing. Exchange volume also had a pretty decent increase this week.
- User Count: 155,655 +0.31%
- Pool Value: 84.50 BTC +22.84%
- SCC Price: $0.033 -13.16%
- SCC Market Cap: $408,604 -11.87%
- Daily Exchange Volume $5,646 +9.61%
- Daily SCP Transactions: 15 +0%
Top 5 Gainers
Most coins went down this week, with only 2 survivors among those listed:
- FLS +9.9%
- RDD +4.3%
Final Autoclaim Vote
At Final Autoclaim they’re hosting a vote for “coin of the month”. If you’re a SCC holder and community member, we encourage you to vote for SCC to help increase our reach and the number of SCC claims!
This is the poll:
You can also sign up using our referral link to give us some help:
Our efforts to refund the missing coins continued last week with 10,000 additional DASH and 500,000 DOGE. Many of you chose to leave those funds on StakeCube, and we want to thank you for your vote of confidence. There are still 11,000 DASH on the platform, which allows us to run a few masternodes and pay out earn rewards.
New Listings and Delistings
This week we listed two new coins: PRCY and MYUS. Both of these are already online and available on the exchange.
XLR will be disabled on the exchange, as the blockchain seems to not work at all. Checking on their Discord channel, we found the following announcement:
Due to this, XLR will likely be delisted soon.
Daps will also be delisted, as we haven’t been able to sync the wallet in a long time. If at some point the DAPS project gets back on track and we’re able to get the wallet running we will allow users to withdraw their coins. Until then, we will remove the coin from the website and just keep the wallet.dat.
A reminder to NodeCube users that we are still in the process of migrating MasterNodes from old to new servers while we scale down the number of servers we have for NodeCube (we simply have more servers than we need). This process will continue until the end of September but downtime will be kept to a minimum to avoid delays in rewards where possible. Cold Node users please keep an eye on your emails for notification that your Cold Node has been moved to a new server so that you can update the info on your side too as soon as possible.
Space Token Staking on StakeCube
In collaboration with Final Autoclaim, we will start offering Earn rewards to SPACE holders on StakeCube. Final Autoclaim offers something called “on-chain staking”:
Using a custom automated solution, we are able to use our SPACE balance to generate rewards. Staking in this way, we have access to the full bonus and an APY of 51.6%. Might be a good time to grab some tokens and enjoy the rewards!
First distribution day will be this Sunday.
Wallet Maintenance News
Previous version: 0.21.2.1
New version: 0.21.2.2
Non-mandatory release but did contain some security fixes.
Previous version: 0.12.1.0
New version: 0.12.2.0
Bug fix release.
Previous version: 220.127.116.11
New version: 18.104.22.168
Madatory update – bug fix release.
Please read the following information regarding the security of your account and funds:
The StakeCube.net team will:
- Never contact you first
- Never ask you to send them or move coins to some other address
- Never ask you for remote access or to install any third party software
- Never ask you for your password or 2FA codes
- Never provide support using direct messages
If you observe any of these listed behaviors, someone is trying to steal money from you. This applies to all of our social media channels. Our team will post official messages in the appropriate channels, and we only offer support through our ticket system on our support email:
Please, also take into account the following measures to keep your account secure:
- Enable 2FA in the account settings
- Enable IP verification in the account settings
- Use a strong password
- Change the password regularly
- Never share your password with others
- Never allow remote access to your devices
- If you require assistance, use only the official channels
- Download software only from verified sources
SCP Wallet is now signed with JSKitty’s public PGP key. This allows users to verify that the wallet has been cryptographically signed and approved by him. Even if our GitHub is compromised, the downloads are still safe as long as the PGP verification confirms that the files have not been tampered with. If you download SCP, please verify the binary against our developer’s public key:
Social Media and Other Important Links:
- Discord: https://discord.gg/RTJKjdwEsY
- Telegram: https://t.me/Stakecube
- Facebook Group: https://www.facebook.com/groups/964396784312480
- Facebook Fan Page: https://www.facebook.com/StakeCubeEcosystem
- Twitter: https://mobile.twitter.com/stakecube
- Instagram: https://www.instagram.com/stakecube/
- SCPScan: https://scpscan.net/
- SCC Explorer: http://22.214.171.124/