Crypto Markets Update
This was a very interesting week for the Crypto markets as we got to see the reaction to the release of new inflation data for the US. The figure turned out to be a bit higher than expected, and the initial reaction was a price crash. Higher than expected inflation is bad news for risk assets, as market agents expect central banks to double their efforts to bring it down using contractionary monetary policy. In other words, the higher the inflation, the more likely it is that central banks will shy away from starting the money printer again. Because of this, it was no surprise when the crash happened right after the announcement. The strange thing happened a few hours later, when markets bounced back to levels even higher than the ones before.
Some people are interpreting this as a sign of resilience, thinking that from now on the Crypto markets will be indifferent to the actions of the Fed and other central banks. This would fit the narrative of Bitcoin as an inflation hedge. However, there are signs that this is not yet the case. The most obvious one comes from observing the reaction of the stock markets compared to the Crypto markets. In this particular case, they reacted almost exactly in the same way. That seems a strong indication that there is not yet a strong decoupling, and Crypto remains vulnerable to stock market shocks.
StakeCube in Numbers
In the end we didn’t make it to the 150,000 user count mark, but we will surely reach in the following hours. The most spectacular statistic this week is the fall in pool value due to the loss of value for Decenomy coins.
- User Count: 149,964 +0.30%
- Pool Value: 571.61 BTC -9.68%
- SCC Price: $0.204 -0.50%
- SCC Market Cap: $2,210,000 -0.63%
- Daily Exchange Volume $47,383 -65.71%
- Daily SCP Transactions: 19 +0.00%
Top 5 Gainers
No big outliers in the top 5 listed coins this week, with just a few coins managing to stay in the green.
- PIVX +17.6
- NEBL +9.0
- RDD +2.6%
Fake Telegram Servers
We have received reports of fake StakeCube Telegram servers, most likely created with the intention of stealing funds from our users. These are some examples of fake servers:
The main StakeCube Telegram server is this one:
Please make sure to use this one and always beware of team impersonators and other scammers. Read our Security Notice at the end of this newsletter for more details.
Please remember that KTS is being delisted and today is the last day you can withdraw your coins! Make sure to get them before the deadline or they will be lost forever. This was the delisting announcement:
YieldNodes and Decenomy
As you probably noticed, all Decenomy coins had very significant loses this week reaching more than 80%. As it seems, YieldNodes has blocked withdrawals due to financing problems that they blamed on the bear market and the general economic situation. To compensate users they have issued an NFT representing the value of the account, but many users are unhappy with this solution. On the Decenomy Discord Servers you will find a detailed explanation, but this is the key part:
Either way although it is sad to see some of our users lose money, StakeCube is not in any way affected by this.
Monk Collateral Change
Monk masternodes have once more increased their collateral requirement from 70,000 coins to 100,000. This makes it necessary to redeploy all masternodes with the new collateral. In order to continue receiving masternode rewards, users must destroy all hot nodes they had with the previous collateral amount, and set up new ones.
Wallets in Maintenance
This is the status of all wallets currently in maintenance:
- BLTG: Forking issues.
- DAPS: Sync issues.
- LUX: Sync issues.
- XLR: There might be a Swap soon.
- ULG: No working blockchain explorer.
New SCC Wallet
As we recently announced, we are switching the mining algorithm for SCC from X11 to ProgPOW. You can read more about this here:
This week came the release of the wallet, called SCC Core v3.3.0. This is a mandatory update. You’ll find all details in our official Github page:
Wallet Maintenance News
This week we updated the following wallets:
Previous version: 0.22.0.0
New version: 0.22.1.0
Previous version: 18.104.22.168
New version: 22.214.171.124
Previous version: 1.1.15
New version: 1.1.16
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://126.96.36.199/
Wallet update: GHOST
Old version: 0.22.0.0
New version: 0.22.1.0
Wallet update: DASH
Old version: 188.8.131.52
New version: 184.108.40.206
we still dont have any update regarding phr/gfn airdrop 5 & 6
Wallet update: BNB/BEP-20
Old version: v1.1.15
New version: v1.1.16