Crypto Markets Update
The situation seems to be stabilizing a bit, as we have returned to a sideways market with little to no volatility. Though there are still a few open questions, such as whether Genesis will go bankrupt, there are signs that the worst is already behind us. Nevertheless, we could still see some projects failing in the future, falling prey to the bear market. To address this, Binance has started collecting funds for a recovery plan that would help projects in distress survive these difficult times. As of this week, the fund has already collected $2 billion. Their idea is that through this rescue plan, valuable projects that are not financially viable at the moment may have a chance to survive. Although the plan makes sense, it might just be an effort on the side of Binance to acquire an even larger share of the Crypto market for themselves.
This week there were also two big FUD-inducing stories out there. The first one is that the FTX hacker has been dumping massive amounts of ETH. This person had become one of the biggest ETH holders after withdrawing more than 200,000 ETH from FTX using some sort of back door. They also dumped 50,000 ETH for RenBTC earlier this week, causing some people to worry about a potential ETH price crash. In the end prices have barely moved, and ETH price remains relatively stable. The second story is related to WBTC, as it seems to have lost its parity with BTC shortly after the FTX debacle. However, BitGo; the custodian of all the wrapped Bitcoin backing WBTC, does not seem to have any direct links to FTX. For as long as they haven’t lost the Bitcoin acting as collateral, and since issuance of WBTC corresponds 1 to 1 with the amount of BTC wrapped, there should not be any problem.
StakeCube in Numbers
This week we had a quite heavy price crash for SCC, following last week’s announcement regarding NodeCube contracts. A few big holders dumped their stack to the market, but things have remained relatively stable since then. The loss of value for SCC is probably what has caused Pool Value to go down a bit, while the other indicators reflect positive growth this week.
- User Count: 152,438 +0.15%
- Pool Value: 601.94 BTC -2.17%
- SCC Price: $0.137 -24.31%
- SCC Market Cap: $1,622,000 -24.13%
- Daily Exchange Volume $24,262 +11.81%
- Daily SCP Transactions: 25 +92.31%
Top 5 Gainers
A few listed coins had really good performance, including several large market cap ones. The higher than usual growth for LTC could be explained by their upcoming halving. As it seems, LTC price has historically pumped quite a bit right before all the previous halving events. Markets seem to be anticipating a similar price action this time, which would explain the recent rise. You can read some more technical analysis on this topic on the following Cointelegraph article:
- NEBL +37.9
- DASH +20.4
- LTC +20.1%
- DIVI +17.3%
- PIVX +14.3%
Today we received the first staking rewards from our new ETH staking service. If you missed the announcement, you will find it in last week’s newsletter:
Over the week, we managed to gather 58.5 ETH to stake, which have generated a stake of around 0.05 ETH. This amounts to an annual compound rate of around 4.35%. So far, our users have put to stake only around 1/3 of the total ETH we have in the pool. If you are one of the ones that haven’t put their ETH to work yet, and want to start staking as well, you will find the ETH staking options by selecting ETH in your wallets page:
And then clicking on the ETH Staking tab from the top:
You will also find a FAQ there. Make sure you read it before making any decision, so that you’re properly informed of all the risks involved. Also, feel free to ask any questions you may have regarding our ETH staking service through any of our social media.
Stablecoins are becoming a very important part of the Crypto space, and we want our users to have access to earning possibilities for those as well. As we continue to prepare the interest system for the StakeCube V3 upgrade, we have now added interest earnings for USDT (ERC-20) and USDT (BEP-20). For the moment, the yearly interest rate will be 1%, which can be extended up to 4.756% with the SCC masternode bonus program. The current interest rate is temporary, as we expect it to increase after the V3 release. As usual, to earn interest you just have to deposit the assets, and you will immediately start receiving daily interest earnings.
This is a summary of the conditions to earn USDT interest on StakeCube:
- Annual rate: 1%, up to 4.756% with full SCC masternode bonus.
- Minimum amount to earn: 25 USDT.
- Maximum amount: 100,000 USDT.
- First payout: 29th of November.
Maria/ETH Trading Pair
At the request of their team, this week we added a new trading pair for Maria. You’ll find it here:
Happy trading to all the Maria community!
Dash Shared Masternodes
Not long ago, a whale withdrew some DASH from our shared masternodes, emptying many shares from several different ones. This has left a situation where there are several masternodes collecting shares simultaneously. If you have shares in one of these masternodes, we urge you to cancel the shares and reserve them again. This way, your Dash will go to one of the online masternodes, and you will start earning masternode rewards again. This will also speed up the filling up of the masternodes higher in the list, allowing us to install them earlier.
This week we added some Hoodies to our Merch shop. Check them out!
StakeCube Black Organic Unisex Zip Hoodie.
StakeCube Black Classic Unisex Zip Hoodie.
StakeCube Coin (SCC) Black Classic Unisex Zip Hoodie.
Work has continued this week to bring up to date the CoinExplorer.net site. You will be able to see 4 new coins there: DVT, SCRIV, SHMD and SHMN. For the moment, these new coins are indexing, but you can already use the site for SCC, ZNZ and FLS!
Check it out here:
These are the teams and players who won our weekly tournaments this week, much congratulations to all of them!
As we mentioned last week, for our Axie Thursday we increased the number of slots to 64, as we were getting many more players registered than slots available. Turns out this was not enough, as 171 players ended up registering for this week’s tournament!
If you want to participate in these tournaments, feel free to join our eSports Discord:
New VerifyCrypto Podcast
Our team member Derek has decided to start a new podcast called VerifyCrypto. In it, he will be talking to coin founders and guests of all sorts to discuss the latest developments in the Crypto space. Find all the relevant links here:
Nuls Twitter Spaces with MMO
The 28th of November, the Nuls project will host a Telegram AMA with Osaid BK, the founder of MMO, one of our partner projects. Find the link here:
Wallet Maintenance News
Wallets in Maintenance
This is the status of all wallets currently in maintenance:
- BLTG: The blockchain is completely stuck. Our team is looking into enforcing a protocol change in order to hopefully resolve this issue.
- DAPS: Sync problems.
- LUX: Sync problems.
DIVI was offline last week but is now back up and running.
This week we updated the following wallets:
Previous version: 18.104.22.168
New version: 22.214.171.124
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/