Crypto Markets Update
The Crypto markets started the week with a small correction, but seem to be going to end it with price increases once again. Bitcoin sits now comfortably around $24,000 and is showing signs of strength. This is particularly interesting in the context of the confirmation that the United States is now officially in a recession. While the news are bad for the general economy, markets are reacting with optimism due to the perception that the Federal Reserve is turning dovish. In other words, markets believe that central banks do not think it will be necessary to act decisively against inflation in the future, and the money printing will resume. However, there are still no signs that inflation will stop growing, and Central banks might even decide to restrict monetary conditions even further. If this happens, it will be interesting to see if Bitcoin follows the stock market once more, or if it finally starts acting as an inflation hedge.
Meanwhile the Crypto Market Capitalization reached $1 trillion once again and continues to climb. Some coins had a particularly spectacular performance. Ethereum Classic for example gained more than 50% in value, probably because of the expectation that Ethereum miners will have to switch to mining Ethereum Classic after the Merge. Another good performer was UNI, the Uniswap token, thanks to their plan to introduce a profit sharing system that will reward Uni holders with part of the fees collected through the exchange. As for the Crypto Fear & Greed Index, it continued to grow this week, getting now close to the middle of the range.
StakeCube in Numbers
StakeCube once again had an outstanding week, with most indicators on the rise. SCC continued to push up towards the 1,200 Satoshi level, and our holdings seem to be growing in value week by week.
- User Count: 145,906 +0.19%
- Pool Value: 655.22 BTC +1.24%
- SCC Price: $0.276 +7.81%
- SCC Market Cap: $2,985,000 +7.53%
- Daily Exchange Volume $98,056 -50.75%
- Daily SCP Transactions: 15 +7.14%
Top 5 Gainers
A few of our listed coins had pretty good performance this week, probably propelled by the general market sentiment. In particular Ravencoin leads the top 5 with a weekly growth of almost 40%.
- RVN +39.3%
- MERGE +25.8
- NEBL +17.1%
- BNB +11.8%
A few weeks ago we announced that due to the continuing issues with the wallet, we would be forced to delist KYDC unless they either solved these issues or agreed to a swap to SCP. Since then, we tried contacting the team in order to find a solution, but unfortunately we were informed by a community member that the project leadership is not available or has abandoned the project entirely. Because of this, no solution can be implemented for the wallet issues, and we have no option but to delist KYDC. This was the message we received:
On August 1st, 2022, we will start the process by removing the KYDC trading pairs from the exchange. To better manage your funds, we strongly suggest that you cancel all your exchange orders on these trading pairs as soon as possible. Find them here:
Withdrawals of KYDC will be closed on August 15th, 2022. If you are currently holding KYDC on StakeCube, please withdraw it before the deadline. If you do not withdraw your KYDC before this date, we will consider that you are giving up these funds, and you will not be able to claim them, or obtain any form of compensation.
Please also note that, in case withdrawal becomes impossible for reasons external to StakeCube, we will be forced to close the withdrawal service, and will not be able to cover any losses that users incur as a consequence. This can be the case if the blockchain stops generating blocks during that period, or if transfers of funds on-chain simply stop working. Therefore, please make your withdrawal as early as possible.
VSX Swap Reminder
Please remember that the deadline for the swap of VSX to Stelix (SLX) is the 31st of July, as we informed on our newsletter:
You can easily swap any VSX you hold on StakeCube using the following page:
Please keep in mind that after the deadline, you will not be able to swap VSX for SLX anymore. Furthermore, any VSX that has not been withdrawn or swapped will be irrecoverable. Therefore, please swap your VSX or withdraw it before the 31st of July.
NodeCube and Masternode Hosting
This week we continued the implementation of improvements for NodeCube that we spoke of on our last newsletter:
In particular, we have developed and implemented a new technical infrastructure for the installation of masternodes, as well as added more functions into the software in order to make the operation smoother.
Apart from this, this week we started the process of improving node stability for running instances. Although this is all happening in the background and does not require user action, we want to inform you that your NodeCube dashboard might temporarily display the wrong status for your masternodes. This is the result of our moving the masternodes from one server to another, which required destroying them on the server of origin and recreating them on a new one.
We are only moving the SCC masternodes between host systems, as their DIP8 implementation makes it so that they can be updated automatically and on chain without requiring any restarts. Thanks to this, they will not lose their position in the reward queue and masternode rewards will not be delayed. All masternodes from other coins are therefore not affected.
The whole process will take around 30 to 40 days, until all nodes have received our latest updates.
Please keep in mind that this does not alter the frontend/user interface in any way. We have no plans to modify the existing frontend or add any new coins to NodeCube until the release of StakeCube V3.
Wallets in Maintenance
This is the status of all wallets currently in maintenance:
- DAPS – The wallets will not sync.
- HCC – The Explorer is broken.
- LUX – We are awaiting the release of a new wallet version, or possibly a fork/swap.
- TUP – The wallets are creating forks.
- ULG – Missing explorers.
RVN required a full resync which took a few days but is now fully operational again.
A few months ago, our team member Derek gave an interview with Crypto Tonight that you can watch here:
As it seems, Crypto Tonight has been quite busy since then, and is now a Huobi ambassador. You can check out his latest content here:
Geldschurrbart Youtube Video
Last month we got another German Youtube channel give a quick overview of StakeCube to their viewers. For those of you that are German speakers, here’s a link to it:
In the video they talked about the interest system, shared Dash masternodes, and how you can build a strategy combining the different services on StakeCube. Feel free to give them a like and subscribe!
StakeCube V3 Screenshots
This week, Oleg dropped a few more screenshots from different pages of StakeCube V3. Remember that you can see all of them in the #V3-Alpha channel of our Discord. Please keep in mind that all of these are work in progress, and the final version might end up looking a bit different. This time, we can see an example of Transaction History containing dummy data:
And two screenshots showing the staking and masternodes pages of the Earn system in V3. These pages will display all sorts of information regarding the underlying assets producing yield for the Earn system. You will be able to consult the staking and masternode APRs that we are achieving for different coins, as well as other relevant data regarding our holdings and general coin information.
StakeCube V3 Development
We are now in the process of connecting for the first time; and testing, the backend of all different major components of V3. This will entail testing all the critical services of the V3 platform in “real-world” scenarios and with real blockchains and wallets. At the moment, we are connecting the following systems:
- Account address generation and address pooling
- PoS and Masternode (Earn system) reward scanner
- Deposit scanner
Wallet Maintenance News
We updated the following wallets:
Previous version: 0.14.11.0
New version: 0.14.11.1
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://188.8.131.52/