Crypto Markets Update
The Crypto markets have continued moving up this week, with Bitcoin approaching $21,000 and Ethereum now trading above $1,600. That is around 4% and 8% higher than last week, respectively. Most of this rise has taken place over the last 2 days, after the publication of the US jobs report revealed higher than expected unemployment. Once again, markets seem to be expecting the Fed to slow down or even revert their quantitative tightening efforts soon. However, there are still no signs that this will be the case, as just this week the Fed raised their reference interest rates by another 75 basis points to set them at 3.75% to 4%. For the moment it seems that inflation is their only concern, and that they are willing to sacrifice employment and economic performance to achieve the goal of price stability. The next few months will certainly test their resolve in this respect.
Stocks reacted to the interest rate hike with a crash, but interestingly, the Crypto markets barely moved. Indeed it has been the case over the last few weeks that correlation between Crypto and stock markets is reversing. You can read this interesting article by Reuters where they cover this topic:
This could be a sign of strength, since markets don’t seem to link Bitcoin’s performance to the Fed actions anymore. That is exactly what you would expect in a scenario where Bitcoin and other cryptocurrencies are being used as inflation hedges rather than risky bets. Risk assets typically suffer the most when monetary conditions tighten, and that is the exact opposite of what we’re seeing these days for Crypto. Nevertheless, many traders still find similarities between this bear market and the one in 2018, which would imply that there is still another crash to come. This is a possibility that cannot be easily discarded, as we see again a dangerous rise in leveraged long positions for Bitcoin and other cryptocurrencies. Perhaps that is why the Crypto Fear & Greed Index remains in “fear” territory even after a few weeks of good performance.
StakeCube in Numbers
StakeCube had a pretty spectacular week, with SCC rising more than 13% in USD terms, and reaching once again the 1,100 Satoshi level. Pool value also grew a lot, mostly thanks to the recent Dogecoin pump. Our users are holding now almost 16 million DOGE, which is worth close to 100 BTC! The Dogecoin pump had a positive effect on daily exchange volume as well, as many traders took advantage of arbitrage opportunities for the DOGE markets this week.
- User Count: 151,111 +0.23%
- Pool Value: 632.73 BTC +10.52%
- SCC Price: $0.247 +13.30%
- SCC Market Cap: $2,847,000 +20.64%
- Daily Exchange Volume $29,961 +58.65%
- Daily SCP Transactions: 13 -23.53%
Top 5 Gainers
Since Elon’s acquisition of Twitter, Dogecoin has been on the rise, this week growing almost 60%. Interesting as well is the more than 20% growth for LTC and BNB; two coins with huge market capitalization. Also in the top 5 listed coins this week were FLS and SAPP, two Decenomy coins that have bounced back somewhat after the recent collapse.
- DOGE +58.6
- FLS +50.7
- SAPP +26.5%
- BNB +22.6%
- LTC +20.8%
StakeCube CMC Community Page
The StakeCube CMC Community Page is now active!
The CoinMarketCap community pages are a forum for the interaction and exchange of ideas between the communities of many different Crypto projects. There you can stay updated about the latest news and developments from your favorite coins, and interact with other community members by leaving comments.
Feel free to give us a follow using this link:
StakeCube and Ghost Twitter Space
Next 9th of November our team member Derek will be joining Tizy from the Ghost project to talk to Joey B about the latest developments for both StakeCube and Ghost. This will take place on a Twitter Spaces at 3 PM UTC.
To join the conversation, just follow this link:
Aztec Warriors Airdrop
This November, our team member RVG created and airdropped a new NFT collection called Aztec Warriors! You can check it out here:
The NFTs were airdropped to all who showed evidence of their ownership of at least one Xolo Gang NFT. For each Xolo Gang NFT, one Aztec Warrior was awarded. The owners of only 21 Xolos made their claim, making that also the number of airdropped Aztec Warriors. Of the ones claiming, StakeCube user Bumpimp was the largest Xolo holder with 7, followed by Partnership with 6. Thank you all for the continued support, and remember, holding Xolo NFTs brings in all sorts of rewards whether it be rare NFTs or Crypto supported on StakeCube!
SCC Block 500,000!
On November the 3rd at 2:07 PM GMT, the SCC blockchain passed the 500,000 block height, moving into the next reward phase!🥳
For the next 250,000 blocks; around 347 days, the block reward will be 7 SCC with 4.9 of those going to a masternode and 2.1 SCC to a PoW miner. With this new phase, the inflation rate has decreased from about 20% to 17.25% yearly. The daily issuance of new coins was reduced from 5,760 SCC to 5,040 SCC. You can check SCC’s block reward structure here:
Check out also this page for more SCC blockchain stats:
The lucky miner who solved block number 500,000, got an additional reward of 50 SCC! The reward was sent to the finder address, as reported by our team member Xardas:
As announced in an article of this newsletter at the end of July:
We have now finished moving SCC HotNodes between host systems to improve overall node stability. This took a bit longer than the 30-40 days we originally estimated due to server availability. We will of course continue with further improvements as NodeCube keeps growing.
After the successful acquisition of Coinexplorer.net, and its deployment to our environment, we have started now to implement the first coins listed on StakeCube. This is still work in progress, but you can already take a look:
Last week we held our first EV.IO online tournament, with the top 3 places being Xborg Atlantic, Ex0duss and Methord MetaGuild x MVP! Congratulations to the winners, who collected a BUSD prize for their performance. A big thank you to all of you that participated, for making contests like this possible.
Also congratulations to DRAGN, who won the raffle for the limited edition Pumpkin Head NFT this week!
This week there is a new Thetan Arena tournament open for registration! For this one we have chosen a 3vs3 format instead of 4vs4. Let’s see how this choice affects the strategies and team compositions now that they have fewer players in their team to work with.
A big thanks to Community Gaming, who joined as a new sponsor and will be supporting our work on a monthly basis.
Tournament Link: https://bit.ly/SCTTw45
StakeCube eSports Discord
Our eSports Discord has surpassed the 1,700 member mark this week, and continues to show strong growth week by week. The inclusion of a few new games in our tournaments, together with the weekly game nights, have proved to be appealing for many gamers that are now joining us.
If you haven’t discovered us yet, now might be the time to explore the gamer inside you! Just follow this link:
Thursday Game Night
This Thursday we hosted another game night, this time with a 2vs2 mini tournament in Tethan Arena. We host these game nights every week, and try to keep them casual so that everyone can participate. To participate, simply join our Discord serverand keep an eye out for announcements about our game nights. Everyone is welcome.
Also, if you are a game representative, feel free to contact us if you’re interested in getting your game featured during one of our game nights. Simply open a support ticket on the StakeCube eSports server.
Next week’s game night will be a special one; as we will also be hosting a small tryout to form a team of 5 players to represent us in an upcoming Double Jump tournament.
The game night will be hosted on the SCE discord server.
Found out more about the game here: https://www.magiceden.io/games/double_jump
EV.IO Game Night
On Wednesday next week, we at StakeCube eSports will join Good Game Hunters for a game night together over at their discord server. Focus on EV.io and the new skin for assault rifles in the game.
The Skin got a theme from the eSports organization Ninjas in Pyjamas. EV.io is a browser-based FPS game that takes very little to get started. Come join us and have a great evening:
If you interested in the skin simply sign up on the waitlist here:
This week there is a new Axie Infinity Origin Tournament open for registration! This time we will have double the number of player spots than last time, and double the prize pool!
Tournament Link: https://bit.ly/SCATw45
These days we have been testing and working on improving sync speeds for SCC Core, utilizing a new compressed headers method and seeing some positive results for next update which will bring even lower ram/resource consumptions. Still more to come but every step is looking more promising.
The site has had a large codebase revamp in order to bring 100% accurate stats to the latest SCC chain developments, as well as some overdue branding improvements:
- Fixed masternode counts and related calculations (now only ENABLED nodes checked).
- Fixed rewards distribution post-ProgPoW upgrade.
- Removed deprecated Masternode tracker (likely to replace with CoinExplorer shortly).
- A huge amount of chart data fixes, now fully accurate and with proper interpolation.
- Faster loading and stats updates due to frontend and backend optimizations combined.
- Added Lock/Unlock contract code in to SCP-1 and its derivative contracts.
Although without any on-chain ABI/opcodes, this code will be very useful in the future for deploying features such as DEXs, LPs, Loaning systems, or anything else that may require a temp contract-ran lock of user funds, without leaving their custody.
- Fixed invalid SCP contract params passing UI validation.
Thanks to SCP community member Monger16 for helping to find and diagnose a bug in the UI which allowed invalid contract names to be deployed, thus failing on-chain but still consuming the full SCC deployment fee.
This is fixed in master branch and will be included in the next update. For now, avoid creating any tokens or NFTs with a name smaller than 2 characters; i.e: 2 or more characters at minimum, for safe deployments.
Wallet Maintenance News
Wallets in Maintenance
This is the status of all wallets currently in maintenance:
- BLTG: A new wallet was released to help with forking and sync issues. Update was performed but the chain is stuck waiting for a new block. Have spoken with their team.
- DAPS: Sync problems.
- LUX: Sync problems.
This week we updated the following wallets:
Previous version: 22.214.171.124
New version: 126.96.36.199
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/