Get more BONK for your buck

Users can win a share of the daily 6,000 USDT launchpool reward by staking BONK and trading. Participants can increase their staked amount by up to 4x and earn a larger share of the rewards by trading:

• 1x Multiplier: Stake BONK.
• 2x Multiplier: Trade more than 5,000 USDT across any crypto.
• 3x Multiplier: Trade more than 10,000 USDT across any crypto.
• 4x Multiplier: Become a Flipster VIP.

The campaign runs from 15 July 2024 to 20 July 2024 and offers participants to earn additional USDT rewards by staking BONK and increasing their trading volume.

For more information on the campaign: BONK Launchpool

May the best memes win

In addition to the Launchpool, Flipster is hosting a BONK x Flipster meme contest with a total prize pool of 5,000 Flipster Bonus. 25 participants will each win 200 bonus, giving the community a chance to join the fun and reap the rewards.

To participate:

• Follow BONK and Flipster on X.
• Like and quote repost the BONK x Flipster meme contest post with their meme.
• Use the hashtag #BONKOnFlipster.

The top 15 memes, determined by the number of reposts and comments, will each receive 200 Flipster Bonus. Additionally, 10 randomly selected participants will also be awarded 200 bonus each.

Ning Zhang, Canaan’s Vice President and General Manager of Canaan U.S. expressed his enthusiasm: “We are thrilled to introduce the Avalon Miner A1566I. This product epitomizes our commitment to technological innovation and delivering efficient, environmentally friendly mining solutions to our customers.”

Key Features of Avalon Immersion Cooling Miner A1566I:

• Power Efficiency: With a power consumption of 4500W and an energy efficiency of 19J/TH, the Avalon Miner A1566I maximizes mining output while minimizing operational costs.
• Innovative Design: Enhanced chip technology improves stability and performance, reducing the energy efficiency ratio to 19J/TH. The rear mesh exhaust design replaces traditional fans, significantly lowering noise levels.
• High ROI: The Avalon Miner A1566I’s high hash rate and low power consumption are poised to increase profitability, especially post-Bitcoin’s fourth halving.
• Versatile Operating Conditions: Capable of operating in temperatures from 20°C to 50°C with a voltage range of 220-277V. Its lightweight design (11kg) facilitates easy transport and installation.
• Flexible Design for Market Adaptation: the Avalon Miner A1566I is designed to seamlessly integrate with current tank setups, avoiding inefficiencies caused by larger, non-specialized units.

New Policies to Encourage Green Mining

The Avalon Miner A1566I enhances the miner’s performance and lifespan while reducing energy consumption and noise pollution, aligning with Canaan’s ESG (Environmental, Social, and Governance) strategy.

Ning Zhang also released Canaan’s ESG policy during his speech: “Canaan will give 2% Voucher to miners using green energes for their new orders”, which demonstrated the company’s determination of green mining.

The successful launch of the Avalon Miner A1566I at Mining Disrupt 2024 underscores Canaan’s leading position in the Bitcoin mining industry, setting a clear direction for future advancements. Canaan continues to drive industry innovation, providing optimal mining solutions for clients worldwide.

About Canaan Inc.

Established in 2013, Canaan Inc. (NASDAQ: CAN), is the creator of ASIC Bitcoin miners. Canaan focuses on ASIC high-performance computing chip design, chip research and development, computing equipment production, and software services. In 2019, Canaan completed its initial public offering on the Nasdaq Global Market.

Volatility and price movement: 

In March, the volatility was higher than in April due to BTC reaching its new ATH. And now, we are experiencing price consolidation in the wide channel between 60k-72k. This means that the halving was mostly priced in even before the event. 

At this point it is difficult to predict short-term volatility, because we do not know what factors will appear in the market in the next one to three months. Given the information available right now, I do expect further consolidation in the near future, and a decrease in volatility for a while before BTC leaves the current channel of $72k – $60k (see screenshot below). Breaking this channel in any direction will mean a significant increase in volatility, but it is difficult to say when this will happen – it can happen in one week or in five months. 

Mining and fees:
Bitcoin is not a new asset anymore, so market participants can learn from past patterns of blockchain activity during halvings. Therefore, miners were mostly prepared for this recent halving, starting to sell coins in advance to compensate for future drops in earnings. 

We did see a spike in transaction fees, but the situation didn’t last long, and it is improving quickluy. Also, for non-urgent transactions, note that there is no obligation to pay elevated fees for a faster speed. With normal average fees, you are still likely to move assets faster than a common bank transfer which sometimes takes a week. 

ETFs:

I don’t see a direct impact from the halving on ETFs. The halving is a technical event that affects blockchain configuration, and ETFs are like gates, providing access for a broader audience to invest in Bitcoin. 

So ETFs and the halving are both positive factors supporting the price in their own ways, creating a kind of synergy. I believe both factors will have a long-term effect because supply limitations and the broadening of possible capital flow are crucial for BTC’s future growth.

As a beginner, it’s natural that you feel overwhelmed and confused with how it works, what it does, and how to earn it. But if you’re serious about jumping into the world of Bitcoin, there are some things you should know before investing.

What is Bitcoin, exactly?

Bitcoin is a digital currency developed by Satoshi Nakamoto and was made available to the public in 2009. The goal of Bitcoin is to create a new electronic cash system that involves no third party. That means it operates on a decentralized system with no one person, group, or entity controlling it. Since the owners of Bitcoins are anonymous, people can sell or buy anything without being traced.

What Are The Things You Need To Know About Bitcoin Before Investing?

• The crypto market is volatile

Crypto enthusiasts or not, everyone knows that the crypto market is highly volatile, meaning there is no guarantee that you will see any returns. That’s why before investing in Bitcoin, it is critical that you only splash out on money you are confident enough to lose entirely.

Risk tolerance is the one thing investors should possess. Think about the amount you plan on investing and assess if you will feel emotionally detached from it, whether your assets go up or down. People who fund too much money on Bitcoin face the temptation to ‘panic sell’ when the market goes down. While it can be the right decision sometimes, do sell out of rational and not emotional.

• Purchasing Bitcoin comes with a fee

Even though you see “no transaction fee,” purchasing Bitcoin is still not free. Most businesses that sell Bitcoin make money from a “spread,” which is the distinction between the price they pay for Bitcoin and the price they charge you when purchasing. The fee is often between 1% and 2%. Some websites, including a couple of our favorite bitcoin exchanges, additionally charge a transaction fee. Although you shouldn’t let these costs deter you from purchasing, it is still essential to be mindful of them.

• Timing is crucial

When Bitcoin’s price was soaring, guaranteed you heard more about cryptocurrencies than when it was falling or leveling out. It is because the people and the media have a natural predisposition to follow current trends. But did you realize that repeated market cycles make up the bitcoin industry? These market cycles usually span one to two years, and prices quickly increase, causing large bubbles. These bubbles then suffered a disastrous burst.

That’s why timing in cryptocurrency is crucial, as it can entirely change your journey and your perspective towards it. As a result, the best strategy to invest in Bitcoin is to consider where we are in these market cycles when determining how much money you should put into it when investing.

But note that investing in cryptocurrencies today isn’t a good idea because it gets you started, even though we’re amid price increases. Timing will only alter your entry strategy and the starting amount you had in mind.

Know where to store your Bitcoin

It’s crucial to understand that there are other options besides keeping your Bitcoin where you bought it. For instance, if you purchase Bitcoin on Coinbase, you can keep it in your account, which is an acceptable choice for many people.

However, you can utilize a Bitcoin wallet if you’re concerned about the security of your Bitcoin. You can acquire a wallet in a variety of protective levels. To store your Bitcoin offline, you can utilize a hardware wallet, a customized hard disk that’s not linked to the internet. Such a precaution may not be required if you only sometimes purchase Bitcoin, but it may be wise if you intend to invest thousands of dollars.

Safeguard your passwords

When exchanging cryptocurrencies, they are usually secure from hacks and widespread theft. Many of the Bitcoin held by cryptocurrency exchanges is in cold storage (i.e., it’s not online), and there is usually an insurance policy to prevent theft.

If only your account is compromised, there is little you can do to protect yourself. There is no way to recover stolen money, unlike with a credit card or bank account, if someone steals your password or uses your phone to validate a transaction. Bitcoin is lost the moment it is transferred out of your account. Therefore, it’s crucial to utilize secure passwords and protect your account’s security.

Diversify your investments

Any experienced investor will utilize diversification as a strategy to lessen the significance of luck. It implies that in addition to investing in cryptocurrencies, you will also spread your cash among various other investment vehicles, like gold, stocks, and real estate.

You can also leave some of your money with the bank to earn a tiny interest rate. It’s better not to put all your financial eggs in the bitcoin basket. It would be comparable to martingale roulette. You’ll continue to succeed, but if you fail, all is lost.

Conclusion

The short investment history of bitcoin is marked by extreme price volatility. Your financial situation, investment portfolio, risk tolerance, and investment objectives will influence whether it is a wise investment. So before investing in cryptocurrencies, you should research and always seek advice from a financial expert to be sure it is appropriate for your situation.