5 Top Altcoins To Add To Your Portfolio This Week

CoingapePublished on 2023-01-18Last updated on 2023-01-18

Abstract

The majority of altcoins are created and published by programmers who have different goals or purposes in mind for their coins or tokens.

In recent days, there has been a significant recovery in the cryptocurrency markets. According to data from CoinMarketCap, this increased the total market capitalization of cryptocurrencies to $994.8 billion on January 18. These are encouraging signs for the cryptocurrency market, which had a challenging year in 2022.

Here are 5 Top Altcoins To Add To Your Portfolio This Week

Solana

Solana was initially conceived in 2017, but it took several years for it to fully develop before its official launch in 2020. As a result of its significantly higher transaction speeds and lower fees, it was immediately hailed as an “Ethereum Killer.” Solana’s Proof-of-History consensus mechanism is one feature that sets it apart.

Solana’s price at the time of writing is $22.99, with a market capitalization of $ 8.5 B and a 24-hour trading volume down by 29.76%. Now it stands at $895 million. At the same time, the circulating supply is approximately 370,865,018 SOL as per the crypto market tracker CoinMarketCap.

XRP

Experts recommend Ripple XRP as one of the best altcoins to buy in 2023. Of all alternative coins, it unquestionably has one of the best use cases. International payments can now be made for fewer money thanks to Ripple. The “bankers’ crypto” known as Ripple aims to replace SWIFT as the de facto standard for international money transfers.

XRP’s price at the time of writing is $0.3877, with a market capitalization of $ 19.6 B and a 24-hour trading volume down by 12.45%. Now it stands at $1 B. At the same time, the circulating supply is approximately 50,713,323,547 XRP as per the crypto market tracker CoinMarketCap.

Cardano

One digital currency that has experienced significant value growth over time is Cardano. Cardano’s ability to reduce transaction times and energy usage is particularly noteworthy. Cardano is therefore among the altcoins that will perform the best in 2023.

Cardano’s price at the time of writing is $0.3503, with a market capitalization of $ 12 B and a 24-hour trading volume down by 11.16%. Now it stands at $305 million. At the same time, the circulating supply is approximately 34,559,640,901 ADA as per the crypto market tracker CoinMarketCap.

Shiba Inu

Shiba Inu Coin is a decentralized, community-building cryptocurrency created as part of the Shiba Inu Ecosystem. Like many other coins, Shiba Inu is built on top of the Ethereum Blockchain Network. It is a meme coin that was introduced as Dogecoin’s “Doge-Killer” competitor.、

Shiba Inu’s price at the time of writing is $0.00001241, with a market capitalization of $ 6.8 B and a 24-hour trading volume up by 170.04%. Now it stands at $841 million. At the same time, the circulating supply is approximately 549,063,278,876,302 SHIB as per the crypto market tracker CoinMarketCap.

GALA

Gala Games (GALA) is a play-to-earn gaming platform built on the blockchain. However, it allows users to earn their GALA token by reaching in-game milestones. They can also design and exchange non-fungible tokens (NFTs) in the game or on exchanges that are not game-based.

Gala’s price at the time of writing is $0.0495, with a market capitalization of $ 345 million and a 24-hour trading volume up by 75.36%. Now it stands at $587 million. At the same time, the circulating supply is approximately 6,977,205,436 GALA as per the crypto market tracker CoinMarketCap

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This article details serious allegations of fraud against Bitcoin infrastructure company Blockstream, founded by Bitcoin pioneer Adam Back. In June 2024, investigative account NatInfoSec published a report accusing Blockstream's mining note (BMN) program of potentially operating a multi-billion dollar scheme with Ponzi-like characteristics. The core allegations focus on Blockstream Mining Notes (BMNs), which offer investors fixed annual yields up to approximately 20% from Bitcoin mining. NatInfoSec's investigation raises several key issues: 1. **Suspicious Hashrate & Payout Capacity**: The analysis suggests Blockstream would need 20-45 EH/s of mining power to cover its BMN obligations, but its public dashboard shows only around 15 EH/s. Furthermore, no verifiable public evidence (e.g., grid connection records, import data) was found to support the massive mining operation required. 2. **Questionable Payout Source**: The BMN contract allows Blockstream to use Bitcoin from *any source* (Substitute Performance BTC) to fulfill investor payouts, raising concerns that payouts may not come from actual mining revenue. 3. **High-Risk, Fixed Returns**: Offering ~20% fixed yields in the volatile, cyclical Bitcoin mining industry is viewed as highly unusual and requires clear explanation. 4. **Undisclosed Criminal Record of Key Figure**: Christopher William Cook, a key figure in Blockstream's mining operations and CEO of spin-off Exacore, was found to have a federal felony conviction for mail fraud in 2008, a fact not disclosed in BMN offering documents. His background was also allegedly embellished. 5. **Potential Contagion to BSTR SPAC**: Questions were raised about whether these liabilities and Cook's record should have been disclosed in the SEC filings for Bitcoin Standard Treasury Company (BSTR), a separate Adam Back-associated firm planning a SPAC merger. The crypto community is divided. BitMEX Research validated Cook's criminal record and expressed concern over the high yields but found other evidence lacking or misleading, noting the legal separation between BMN, Blockstream, and BSTR. Blockstream defenders, like Samson Mow, argue the mining is real. Critics, however, emphasize the lack of independent, verifiable proof of the mining operation's scale and the true source of investor payouts. The article concludes that BMN remains shrouded in key unanswered questions regarding its actual size, the verifiability of its underlying mining assets and payouts, the source of its high yields, and the full role and disclosure concerning Chris Cook. Blockstream had not issued a comprehensive response at the time of writing.

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The Full Story of How Crypto Unicorn Blockstream Is Mired in Serious Fraud Allegations

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TheNewsCrypto44m ago

South Korea Targets 40 Unregistered Crypto Operators in Regulatory Crackdown

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This article details allegations of serious fraud surrounding the crypto company Blockstream, founded by Bitcoin pioneer Adam Back. Investigation account NatInfoSec accuses Blockstream of raising billions through its Blockstream Mining Note (BMN) products, which offer high fixed yields of up to 20% from purported mining revenue. The core allegations are: 1) Blockstream's public mining hash rate (15 EH/s) appears insufficient to cover the massive payout obligations from sold BMN notes, raising questions about the true source of investor payouts. 2) Key executive Christopher William Cook, central to the mining operations, has a prior federal conviction for mail fraud, a fact not disclosed to investors. Cook's background and lavish lifestyle are highlighted as red flags. 3) The structure allows payouts from any source of BTC, not necessarily mining revenue, which critics argue gives it Ponzi-like characteristics. The controversy also touches on Bitcoin Standard Treasury Company (BSTR), a related entity planning a SPAC上市. Critics question whether BMN's liabilities and Cook's record should be disclosed in BSTR's filings. BitMEX Research offered a tempered analysis, confirming Cook's criminal record is likely true and the high yields concerning, but found other claims like insufficient抵押证据 less substantiated. Community debate centers on the need for verifiable proof of Blockstream's mining output and revenue. The article concludes that while fraud is not proven, BMN presents significant, unresolved questions regarding its actual scale, the source of its high fixed returns, the verifiability of its mining operations and payouts, and the full disclosure of associated risks and personnel backgrounds. Blockstream has not yet issued a formal response.

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The Full Story Behind Encryption Unicorn Blockstream's Deep Entanglement in Serious Fraud Allegations

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Legacy Polygon Royalties Contract Exploit Drains $261K Through Reward Logic Flaw

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TheNewsCrypto2h ago

Legacy Polygon Royalties Contract Exploit Drains $261K Through Reward Logic Flaw

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