​​Will supercomputers kill PoW mining?

Over the past several years, there has been a fierce debate about the future of cryptocurrency mining. Many of those who entered the crypto industry long ago have concerns that Bitcoin could be in serious trouble due to the vulnerability of its consensus mechanism. In this article, we’ll have a closer look at what threatens Proof-of-Work (PoW) coins in general and Bitcoin in particular.

Where does this fear stem from? Many believe that supercomputers and new quantum technologies could eventually crack PoW, and ultimately threaten Bitcoin. But this isn’t PoW’s only problem, as other issues like the semiconductor crisis and environmental impact loom large as well.

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​​Here's our digest with the hottest news:

Capitalization: $1.3 trillion
Trading Volume (24h): $151 billion
BTC Dominance: 46.9%
BTC: 34,001$ (+7.97%)

🔹Bakkt Holdings has officially launched a Bakkt Visa debit card.

🔹MicroStrategy has purchased an additional 13,005 bitcoins for ~$489 million in cash at an average price of ~$37,617 per bitcoin.

🔹David Marcus tweeted that China's bans can create a very favorable opportunity for bitcoin. He believes that the transfer of mining capacity to the West is a positive development.

🔹Kusama is set to see decentralized finance hub Karura become the first parachain. Users locked up over 500,000 KSM tokens.

🔹The FTX exchange will hold the Solrise (SLRS) IEO on June 29.

#3C_digest

​​Nominees in the Community category
Here are the nominees for the First-ever 3Commas Tutorial Contest in the Community category:

🔷 Nominee 1 Video
🔷 Nominee 2 Video
🔷 Nominee 3 Video
🔷 Nominee 4 Video
🔷 Nominee 5 Video
🔷 Nominee 6 Video
🔷 Nominee 7 Video
🔷 Nominee 8 Video
🔷 Nominee 9 Video
🔷 Nominee 10 Video

Choose the video you like most and vote here 48hours following this announcement!

​​The rapid rise of NFTs

The NFT market is vigorously discussed in the cryptocurrency space and beyond, and the debate over the use of these tokens and whether their large valuations are justified is still ongoing.

In today’s article, we will discuss non-fungible tokens, their potential, and projects that can find their place within the market to bring added value to their users.

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​​Here's our digest with the hottest news:

Capitalization: $1.3 trillion
Trading Volume (24h): $151 billion
BTC Dominance: 46.9%
BTC: 34,240 $ (+3,8%)

🔹Antivirus software pioneer John McAfee was found dead in his prison cell in Barcelona in an apparent suicide Wednesday.

🔹Two brothers and founders of Cape Town-based cryptocurrency investment platform, Africrypt, have disappeared, potentially making off with $2.2 billion worth of their client’s bitcoins.

🔹The Binance NFT Marketplace is now live.

🔹Andreessen Horowitz launched a $2.2 billion crypto fund.

🔹A third of big investors believe bitcoin is “rat poison,” JPMorgan survey shows.

#3C_digest

​​Tutorial Contest Community Category Winner!

Voting has ended for the Community category. Based on the voting results, the winners are:

🥇Nominee 8 Video
🥈Nominee 4 Video
🥉Nominee 2 Video

🎗4th-10th
Nominee 3 Video
Nominee 9 Video
Nominee 10 Video
Nominee 1 Video
Nominee 7 Video
Nominee 5 Video
Nominee 6 Video

All prizes will be sent to the winners within 7 working days.

Congratulations to everyone that participated! And stay tuned, because at 3Commas we have new and exciting initiatives coming soon!

Dear Traders,
We’ve been made aware of scheduled maintenance with the Bitfinex API

The Bitfinex platform will be unavailable for approximately three to seven hours starting from 07:30 AM UTC today as they perform scheduled maintenance.

Please monitor the Bitfinex status page https://bitfinex.statuspage.io and Twitter account https://twitter.com/bitfinex for official progress

​​Securing your crypto assets: best practices

Storing cryptocurrencies safely and securely is an essential part of investing in digital assets. Hackers constantly strive to find new ways to get hold of private keys and steal user's funds.

This article will provide you with everything you need to know about how to safely store digital assets, differentiate between numerous cryptocurrency wallet types, and help you determine the best security options to protect your funds from a range of attacks.

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Dear friends, the 3Commas team is super excited to share two major updates to our platform! 🎉

At 3Commas we know that new and updated products are the foundation of a great trading platform. By giving us your feedback, you can play a role in the evolution of 3Commas and make us the most-used crypto trading platform on the market.

Dear API Developers!

As you may be aware, SmartTrade v2 was rolled out for API in October 2020. In this update, we are using a new processing engine to handle your smart trades, making them more flexible, faster and easier to use.
As an added bonus, SmartTrade v2 supports trades on Futures platforms such as Binance Futures, Bybit, Bitmex, and FTX Futures.

Yet, we still see some requests to the deprecated SmartTrade v1 API which will soon be discontinued and deactivated.

If you are having diffculty making the switch to the SmartTrade v2 API, please could you contact us at support@3commas.io and provide any feedback that may be preventing you from making the switch. Doing so will let us help you with the upgrade and improve SmartTrade along the way!

​​Here's our digest with the hottest news:

Capitalization: $1.3 trillion
Trading Volume (24h): $76 billion
BTC Dominance: 45.7%
BTC: 33,008 $ (-0,75%)

🔹Soros Fund Management has cleared its traders to actively trade bitcoin.

🔹USDC will become available on 10 more blockchains: Avalanche, Celo, Flow, Hedera, Kava, Nervos, Polkadot, Stacks, Tezos, and Tron.

🔹Ethereum 2.0 crossed 6 million staked coins under its deposit contract.

🔹World Wide Web source code NFT was sold for $5.4 million at Sotheby's.

🔹CoinMarketCap has launched a token swap feature on its website through integration with decentralized exchange Uniswap.

#3C_digest

Dear Traders,
We’ve been made aware of technical issues with the Binance Futures and Spot API during 1:10 - 1:51 UTC.

During this time 3Commas could not execute any orders or perform any other type of communication with Binance Spot and Futures exchanges

​​Five cryptocurrencies currently on the rise

In 2013, the total cryptocurrency market cap was equal to $1.6 billion. Over the next eight years, the market achieved a thousandfold increase in capitalization. Today, to be considered a top-50 cryptocurrency by market cap requires a valuation close to $2 billion. There are some projects which were previously unheard of and shot their way to the top of this list in no time at all.

We will explore these little-known digital assets that were once barely known to the general investor community, turning their casual investors into billionaires in a matter of months.

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​​Here's our digest with the hottest news:

Capitalization: $1.4 trillion
Trading Volume (24h): $79 billion
BTC Dominance: 44.3%
BTC: 34,769$ (+1.75%)

🔹Ethereum developer Tim Baco has initiated a proposal to activate the London hardfork update at block 12965000, expected on August 4.

🔹Sygnum, a Swiss crypto bank with Singapore heritage, has launched Ethereum 2.0 staking, becoming the first bank to offer such services.

🔹Marshall Wace, a London-based hedge fund that oversees $55 billion in assets, is planning to participate in the cryptocurrency sector.

🔹Barclays Bank has stopped its UK customers from transferring money to Binance.

🔹An ex-Google tech lead and YouTuber with more than 1.1 million subscribers has been accused of engineering a multi-million dollar “pump and dump” scheme.

#3C_digest

​​Here's our digest with the hottest news:

Capitalization: $1.3 trillion
Trading Volume (24h): $73 billion
BTC Dominance: 45.0%
BTC: 32,931$ (+0.98%)

🔹Many users found that the Binance app seems to be blocked in China and they need to use a VPN to log in.

🔹Bank of America Corp. created a new team dedicated to researching cryptocurrencies.

🔹Circle is going public in a deal that values the crypto financial services firm at $4.5 billion, the company said Thursday.

🔹The U.S. Securities and Exchange Commission (SEC) has extended its review of SkyBridge Capital’s application for a bitcoin exchange-traded fund to August 25.

🔹Kraken will support four new assets: Axie Infinity (AXS), Chiliz (CHZ), Origin Protocol (OGN) and Perpetual Protocol (PERP). Deposits for all four assets are available starting now; trading will begin on July 13 at approximately 15:30 UTC.

#3C_digest

​​FUD as a market manipulation tool

Due to its young age and exponential profit potential, the cryptocurrency market is subject to manipulation by traders, investors, and even financial institutions. Inexperienced market participants often lose their funds, becoming hostage to manipulation and unexpected market behavior, which is not only caused by their own mistakes but also due to the influence of mass media, social networks, or fake news.

In today’s article, we will talk about these market manipulation tactics as a means of spreading FUD (fear, uncertainty, and doubt), which is often used to manipulate market prices. We will look at recent examples of such manipulation and how not to fall prey to externally induced illusions.

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The updated 3Commas iOS app is now available on the Apple App Store!

In this new 2.4.5 version we added:

🔷 The ability to share a screenshot displaying a QR-code of your referral link. Just take a screenshot and the app will offer you the option to share it.
🔷 An improved DCA bot order list, now displaying order creation date for easier use.
🔷 An updated DCA bot display which includes more information than ever before.
🔷 New buttons to reset all filters for Smart Trades and Bots.
🔷 Minor bug fixes.

Update your app here!

​​Hello 3Commas user!

Currently, we are working hard on improving one of the most important 3C products: our DCA bots. Your experience and input with our products is helpful in our work to constantly improve upon them.

Please take this short survey so that we can make our products the best they can possibly be.

​​Bitcoin’s death cross — is it really that bad?

The death cross is a bold term indicating a trend reversal in bitcoin from bullish to bearish. There have been very few such events in the history of bitcoin, but each time they attract the attention of many traders eager to see what this indicator leads to. Today we will talk about the peculiarities of the death cross and the possibilities of benefitting from trading the pattern.

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​​Here's our digest with the hottest news:

Capitalization: $1.3 trillion
Trading Volume (24h): $66 billion
BTC Dominance: 45.9%
BTC: 31,631$ (-2.25%)

🔹Visa and Mastercard have left open key gateways between Binance and the monetary system regardless of rising regulatory scrutiny on the cryptocurrency trade.

🔹CEO of FTX considers buying an established financial institution such as U.S. banking giant Goldman Sachs once the cryptocurrency exchange overtakes its rivals Coinbase and Binance.

🔹S&P Dow Jones Indices, a division of U.S. financial data provider S&P Global, launched the new S&P Cryptocurrency Broad Digital Market (BDM) Index, which includes 243 assets with a combined capitalization of $1.2 trillion.

🔹The Governing Council of the European Central Bank (ECB) has decided to launch the investigation phase of a digital euro project. This stage will last 24 months and aim to address key issues regarding design and distribution.

🔹The Binance exchange announced the 20th project on Binance Launchpad - Coin98 (C98). The token sale for Coin98 will follow the Launchpad subnoscription format, with the recording of user BNB balances starting at 2021-07-16 0:00 AM (UTC).

#3C_digest

Dear Traders,
We are aware of current system limitations and our team is actively investigating the issue.

Your active trades are safe and we will continue to update you on a resolution.

3Commas Status Page