Boxmining v2

Author: Michael Gu

  • Why Minimax 2.5 is a Game-Changer for AI Agents

    Why Minimax 2.5 is a Game-Changer for AI Agents

    Recently, Minimax 2.5 was released, and it’s a significant improvement over its predecessors—especially for agentic workflows. In this article, we’ll dive into a simple logic test that highlights why Minimax 2.5 stands out, explore my multi-agent setup on Discord, compare it to high-end models like Opus, and break down the cost benefits. If you’re building AI-driven systems or just curious about the latest advancements, read on.

    We also have a full video guide if you need visual assistance.

    A Quick Logic Test: Why Minimax 2.5 Shines

    To demonstrate the leap in performance, let’s start with a straightforward question: “I need to wash my car at the car wash. Should I walk or drive over? It’s only 50 meters away.”

    As humans, the answer is obvious—you need to drive because the car has to be at the wash. But not all AI models get this right. Here’s how various models performed:

    • Minimax 2.5: Correctly advises driving, recognizing the core logic: “You need your car at the car wash.”
    • Minimax 2.1: Suggests walking, falling for the short distance bait: “It’s just a minute’s walk, save on gas, zero emissions.”
    • Kimi: Gets it right, stating you probably have to drive.
    • Deepseek (older version): Recommends walking, missing the essential point.

    I tested this on Opus as well, and it passed with flying colors. However, even Minimax 2.5 occasionally slipped up in repeated tests, reminding us that AI isn’t perfect yet. Still, for agentic tasks—where logic and planning are crucial—this test shows why upgrading to 2.5 is worthwhile. Benchmarks are great, but real-world simple tasks reveal a model’s reliability.

    If you’re running agents for daily planning or complex workflows, try this question yourself. Paste it into your AI and see if it passes: “Hey, I have a question. I need to wash my car at the car wash. Should I walk or should I drive over? It’s only 50 meters away.”

    My Agentic Workflow Setup on Discord

    I’ve built a multi-agent system on Discord that’s efficient and scalable. It includes bots powered by models like Minimax 2.5, Kimi, Deepseek, and even Opus for heavier lifting. The setup allows agents to collaborate, delegate tasks, and handle everything from research to coding.

    For example, I recently tasked my agents with: “Do some deep research on how Minimax 2.5 is performing and if it’s really better than Opus. I want to make a mini presentation hosted locally. Use whatever framework you see fit. Include deep research. Save this presentation as scalable for the future.”

    The result? An AI-generated slide deck created by Minimax 2.5. Interestingly, my main agent “Stark” (running on Opus, inspired by Tony Stark) delegated the coding to Minimax 2.5 for efficiency. The slides covered:

    • Background on Minimax: Founded in 2021, with 50 TPS (30% faster than older models).
    • Performance Highlights: Excels in coding tests and agentic work.
    • Cost Breakdown: $1.2 per million output tokens, plus a $20 coding plan that provides 300 prompts every five hours—essentially unlimited for agent use.

    This setup keeps things clean and automated. Stark handles big, mission-critical tasks but outsources simpler ones to cheaper models like Minimax 2.5. It’s a smart way to balance power and cost.

    Join our Discord community to see it in action or build your own: https://discord.com/invite/boxtrading.

    Minimax 2.5 vs. Opus: Performance and Cost

    Opus is undeniably powerful—it’s great for complex tasks and nailed our logic test. But it’s expensive: $75 per million output tokens. Plus, there’s a hidden “heartbeat” cost—periodic pings that report back and can add up to about $5 per day, even when idle.

    In contrast, Minimax 2.5 delivers 95% of Opus’s value at a fraction of the price. It’s reliable for coding, research, and agentic flows without the premium tag. I’ve used it for quick experiments and found it outperforms many local models, which often fail simple logic checks.

    Why not go fully local for free? Models like older Llama versions struggle with basic tasks, leading to frustration. Cloud-based options like Minimax ensure consistency, especially when planning trips or handling multi-step processes.

    Conclusion

    Minimax 2.5 is a game-changer for anyone working with AI agents. It passes key logic tests, integrates seamlessly into workflows, and keeps costs low—making it a strong alternative to pricier options like Opus. We’re at an exciting point where AI is getting smarter fast, empowering us to become “Human 2.0”: solving problems quicker and achieving more.

    If this resonates, test your agents with the car wash question and share your results. Follow me on X at @boxmining or check out the BoxminingAI Youtube channel for more AI tips.

  • OpenClaw Setup Guide: The Cheapest Way Using the Latest MiniMax M2.5 Model

    OpenClaw Setup Guide: The Cheapest Way Using the Latest MiniMax M2.5 Model

    In this guide, I’ll walk you through an affordable and straightforward way to get OpenClaw up and running with the cutting-edge MiniMax 2.5 model. We also have a full video guide if you need visual assistance.

    Why This Setup? A Quick Intro

    OpenClaw is an fantastic open-source AI agent framework that allows you to build and run autonomous AI tasks. The beauty of this approach is its sandboxed nature—you can test and play around without exposing your main computer to potential issues. Instead of splurging on something like a Mac Mini, we’ll use a cheap cloud server from Zeabur combined with the MiniMax 2.5 model, which costs about $20 a month for solid performance.

    This method is ideal for beginners because it’s simple, low-risk, and scalable. Plus, MiniMax 2.5 offers high intelligence at a fraction of the cost of bigger models. If you’re new to AI like me, starting here means you can focus on learning without overwhelming setup hurdles. Ready? Let’s choose your server.

    Step 1: Choosing the Right Server

    The key to keeping costs down is selecting an accessible and affordable hosting provider. I recommend Zeabur over more complex options like Digital Ocean or AWS—it’s user-friendly and perfect for quick setups.

    Here’s how to get started:

    1. Head to Zeabur’s website and create an account.
    2. Set up a new server with minimal specs: 2GB RAM and 40GB storage. This should cost you less than $2 per month.
    3. Choose a server region close to you for better speed—for example, Singapore if you’re in Asia.
    4. Once created, you’ll get an IP address, username (usually “Ubuntu”), and password.

    To connect to your server, use a terminal app like Termius. Enter the IP, username, and password, and you’re in! This remote setup keeps everything isolated, so you can experiment freely.

    Step 2: Installing OpenClaw

    With your server ready, installation is a breeze. OpenClaw’s official site makes it easy with a one-line command for Linux.

    Follow these steps:

    1. Go to openclaw.ai and find the “Max Linux” installation section.
    2. Copy the provided command (it’ll look something like a curl or wget script to download and install).
    3. In your server terminal, paste the command. On a Mac, use Shift+Ctrl+V; on other systems, try Command+V or right-click paste.
    4. The process takes about 2-3 minutes. Sit back and let it run.

    If you encounter a “warn path missing” error after installation, fix it with this command:

    export PATH=$PATH:/path/to/openclaw

    (Replace /path/to/openclaw with the actual installation path if needed.)

    During setup, you’ll be prompted to choose a model. Select MiniMax 2.5—it’s powerful and included in affordable plans. You’ll need a MiniMax API key; I suggest the coding plan, which gives you 300 prompts over 5 hours for testing. Input your key when asked.

    Pro Tip: If you mess up the initial setup, run openclaw onboard to restart the process fresh.

    Step 3: Configuring OpenClaw for Optimal Use

    Once installed, access the Terminal User Interface (TUI) with:

    openclaw TUI

    This interface lets you interact with your AI agent directly.Key configuration tips:

    • Stick with MiniMax M2.5 (avoid Lightning if it’s not in your plan).
    • Use openclaw configure to tweak settings like models, gateways, or skills.
    • For now, focus on basic setup. In future guides, I’ll cover integrations like connecting to Telegram or Discord for threaded conversations (which I prefer over TUI for better organization).

    Your OpenClaw AI can now handle tasks like web searches, Twitter (X) data scraping, managing shared notes, and even task automation. Over time, you can train it for more personalized responses. Remember, keep it isolated initially to protect your personal data—security first!

    Common Troubleshooting Commands:

    • openclaw onboard: Reset and restart setup.
    • openclaw configure: Adjust models, skills, or connections.

    Wrapping Up: Next Steps and Final Thoughts

    There you have it—a complete, budget-friendly guide to setting up OpenClaw with MiniMax 2.5. This setup has been a game-changer for me, allowing hands-on AI experimentation without the high costs or risks. In under 15 minutes, you’ll have a running AI agent ready for action.

    If you run into issues or want to dive deeper, check out my Discord community for tips and discussions: Join here. Upcoming videos will cover advanced topics like Telegram/Discord bots, fixing common errors, and even more integrations.

    If you’re enjoying this journey into AI, subscribe to my channel @BoxminingAI for more beginner-friendly guides on vibe coding, AI models, and tools.

  • Hyperliquid: The Decentralized Exchange That’s Challenging Centralized Giants

    Hyperliquid: The Decentralized Exchange That’s Challenging Centralized Giants

    How a self-funded, community-driven platform captured billions in volume and became the go-to destination for crypto derivatives traders

    In the world of cryptocurrency exchanges, a quiet revolution has been taking place. While centralized platforms continue to dominate trading volumes, one decentralized protocol has been making headlines by delivering performance that rivals—and in some aspects surpasses—industry giants like Binance. Hyperliquid, a self-funded decentralized perpetual exchange built on its own Layer 1 blockchain, has emerged as a formidable challenger to the established order, attracting millions of users and processing billions in daily trading volume.

    What makes Hyperliquid’s rise particularly remarkable is not just its technical achievements, but the philosophy behind it. Operating entirely without external venture capital funding, the platform has attracted a passionate community of traders, developers, and DeFi enthusiasts who rally around its mission of creating a “fair and permissionless crypto-financial system.” This article explores what Hyperliquid is, why it’s gained such significant traction, and whether its momentum can be sustained in an increasingly competitive landscape.

    What Is Hyperliquid?

    At its core, Hyperliquid is a high-performance decentralized perpetual exchange that allows users to trade cryptocurrency derivatives with leverage up to 50x, all while maintaining full self-custody of their funds. Unlike centralized exchanges where users must deposit assets into exchange-controlled wallets, Hyperliquid enables permissionless trading directly from users’ own wallets through smart contracts.

    The platform operates on its own purpose-built Layer 1 blockchain, designed specifically for high-frequency trading applications. This architectural decision distinguishes Hyperliquid from decentralized exchanges built as applications on existing chains like Ethereum or Solana. By optimizing the entire stack for trading performance, Hyperliquid achieves execution speeds and throughput that rival centralized platforms while preserving the security and autonomy benefits of decentralized systems.

    The native token, HYPE, serves multiple functions within the ecosystem. It acts as the governance token, giving holders voting rights over protocol parameters, fee structures, and strategic direction through the Hyperliquid Improvement Proposal (HIP) system. HYPE also provides utility benefits, including fee discounts for traders who stake their tokens. This dual-purpose design creates alignment between the platform’s success and token holder interests.

    The platform’s USDH stablecoin serves as the primary quote currency for native markets, with governance over collateral types and risk parameters resting with HYPE voters. This approach ensures that the fundamental parameters of the monetary system remain under community control rather than being dictated by a central authority.

    The 2025 Growth Explosion: By the Numbers

    Hyperliquid’s 2025 performance represents one of the most impressive growth stories in the decentralized finance space. According to KuCoin’s year-end summary, the platform achieved a 24-hour trading volume of $3.2 billion and reached a total value locked (TVL) of $6 billion, representing massive year-over-year improvements that have solidified its position as the leading decentralized perpetual exchange.

    The volume statistics reveal a platform that has successfully captured significant market share from both centralized exchanges and other decentralized protocols. Data tracked by DefiLlama shows that Hyperliquid’s 24-hour trading volume reached a record $32 billion at its peak during 2025, a dramatic increase from the previous year’s high of $15 billion. This remarkable 113% increase in peak volume demonstrates that Hyperliquid’s infrastructure can handle extreme trading activity without degradation in execution quality or user experience.

    Open interest, a critical metric for derivatives platforms that indicates the total value of outstanding leveraged positions, reached $16 billion at its 2025 peak—up from just $4 billion in 2024. This 300% year-over-year increase is particularly significant because it indicates that traders are increasingly using Hyperliquid not just for short-term speculation but as a primary venue for maintaining leveraged positions over longer timeframes.

    The high open interest to volume ratio, as noted by analysts at Atomicwallet, suggests the presence of longer-term hedgers and position holders rather than purely speculative day traders. This pattern indicates that both institutional participants and sophisticated retail traders are viewing Hyperliquid as a reliable venue for derivatives trading, trusting it with substantial positions rather than using it only for quick trades.

    User Growth and Capital Inflows

    User adoption has been equally impressive, with the platform growing from 300,000 users at the start of 2025 to 1.4 million total users by year-end. According to data reported by Wu Blockchain from ASXN Analytics, Hyperliquid added approximately 609,700 new users during 2025 alone, reflecting a surge in DeFi adoption among retail participants who are increasingly comfortable with decentralized trading solutions.

    Perhaps more telling than raw user numbers is the sustained capital inflows the platform has attracted. Net inflows reached $3.8 billion throughout 2025 as demand for decentralized derivatives continued to grow. This substantial capital migration suggests that traders are actively moving from centralized exchanges to Hyperliquid, motivated by concerns about centralization risk, regulatory uncertainty, and a growing desire for non-custodial solutions where they maintain complete control over their assets.

    Daily protocol revenue of $20 million—up from $3.5 million in 2024—provides sustainable economics for ongoing development and community governance. This revenue, generated entirely from trading fees, demonstrates that Hyperliquid’s growth is driven by genuine utility rather than temporary incentive programs that often distort metrics in the DeFi space.

    “The assumption when HyperEVM launched was that Hyperliquid had already solved the hardest part of crypto: attracting real users and generating real liquidity.” — Four Pillars (@FourPillarsFP)

    The “For the People” Community Culture

    Beyond the metrics, Hyperliquid has cultivated a distinctive community culture that sets it apart from competitors. According to trader and analyst Mannay (@MannayWorld), the community around Hyperliquid is “quite interesting as it really is a mix of hardened crypto traders, DeFi builders, and Web3 enthusiasts who rally around the slogan of Hyperliquid being ‘for the people.’”

    This community composition reflects the platform’s appeal to sophisticated users who value permissionless access and self-custody over convenience-oriented solutions offered by centralized exchanges. Many community members express frustration with centralized exchange policies, mandatory KYC requirements, and potential regulatory risks—concerns that have intensified as governments worldwide increase scrutiny of cryptocurrency platforms.

    The platform’s Twitter/X presence, led by the official @HyperliquidX account, actively engages with the community by responding to requests for new trading pairs and product features. A notable example of this community-driven development was the listing of MON-USD hyperps, which allowed traders to long or short the unlaunched Monad token with up to 3x leverage. According to the official tweet, this listing came “by community request,” demonstrating the platform’s responsiveness to user demand. The tweet received over 823,800 views, 649 retweets, 1,100 likes, and 3,400 bookmarks—indicating exceptionally high engagement from the trading community.

    Fair Launch and Anti-Dilution Commitment

    A defining characteristic of Hyperliquid’s community culture is its emphasis on fair launch principles and resistance to token dilution. The platform’s decision to operate entirely without external venture capital funding, instead directing all protocol fees back to the community, has earned it significant goodwill among users who have grown skeptical of venture-backed projects that prioritize investor returns over community interests.

    A particularly significant moment came with the formal destruction of the HYPE airdrop fund. Rather than retaining tokens for future distribution at the team’s discretion, this action removed any potential for future token dilution and locked in the initial distribution. The community widely celebrated this decision as evidence of the team’s genuine commitment to decentralization and fair launch principles—moving beyond rhetoric to concrete action.

    Governance discussions remain active within the community, with engagement around Hyper Improvement Proposals (HIPs) allowing token holders to participate meaningfully in protocol direction. HIP-3, which enabled permissionless perpetual contract deployment, exemplifies this governance model by allowing any user to create new perpetual markets for assets beyond the initial supported trading pairs. This democratization of market creation has expanded the platform’s utility while maintaining community control over the protocol’s evolution.

    Technical Innovations Powering Hyperliquid’s Success

    Hyperliquid’s rapid adoption would not be possible without significant technical innovations that address the historical performance gaps between centralized and decentralized exchanges. The platform’s architecture was designed from the ground up to match the performance characteristics of centralized exchanges while maintaining the security and self-custody benefits of decentralized systems.

    Custom-Built Matching Engine

    At the heart of Hyperliquid’s performance is a custom-built matching engine capable of handling billions in daily trading volume with sub-second confirmation times. This purpose-built infrastructure eliminates the bottlenecks that plague many decentralized exchanges, which often rely on general-purpose blockchain infrastructure that was not optimized for high-frequency trading applications.

    The matching engine’s capabilities have been validated under extreme conditions. When trading volume reached record levels during peak market activity, the platform maintained execution quality without the degradation in user experience that often affects competing platforms during high-stress periods. This reliability has been crucial in building trader confidence and encouraging larger position sizes.

    Permissionless Validator System

    The permissionless validator system allows anyone to participate in securing the network, ensuring that network security remains decentralized and resistant to single points of failure. Unlike some decentralized exchanges that rely on a small number of whitelisted validators or centralized sequencers, Hyperliquid’s approach maximizes decentralization while maintaining the performance necessary for competitive trading.

    This permissionless design extends to the broader development ecosystem. The HyperCore deployment capability allows developers to build applications on top of Hyperliquid’s infrastructure, opening the platform to third-party innovation. Developers can create trading interfaces, analytics dashboards, automated trading strategies, and other tools that interact with Hyperliquid’s on-chain order book and settlement system.

    Portfolio Margining (Pre-Alpha)

    One of the most anticipated features is portfolio margining, which launched in pre-alpha during 2025. This advanced risk management feature allows traders to use their entire portfolio as collateral rather than isolating positions in separate margin accounts—a capability typically only available to institutional traders on centralized exchanges.

    The introduction of portfolio margining represents a significant competitive advantage for Hyperliquid, as it allows for more efficient capital utilization and sophisticated risk management strategies. The pre-alpha designation indicates continued refinement and security auditing before full public release, reflecting the team’s cautious approach to deploying complex financial features.

    HyperEVM: Expanding Beyond Derivatives

    While Hyperliquid initially focused exclusively on perpetual futures trading, the launch of HyperEVM in February 2025 marked a significant expansion of the platform’s capabilities. This feature brings Ethereum Virtual Machine compatibility to the Hyperliquid ecosystem, allowing developers to deploy existing Ethereum smart contracts and decentralized applications on Hyperliquid with minimal modifications.

    The strategic importance of HyperEVM cannot be overstated. By supporting EVM compatibility, Hyperliquid opens its high-performance infrastructure to the vast ecosystem of Ethereum developers and applications. Projects that previously had no viable path to deployment on a purpose-built trading blockchain can now access Hyperliquid’s liquidity and user base with minimal development overhead.

    The Unit bridge facilitates seamless movement of spot assets between Hyperliquid and other blockchain networks, improving liquidity access for traders who may hold assets across multiple platforms. This interoperability is crucial for attracting users who want to trade on Hyperliquid without completely abandoning their existing portfolios on other chains.

    Native staking functionality, also introduced in 2025, provides HYPE token holders with direct economic benefits through fee discounts on trading activities. This creates a compelling incentive for long-term token accumulation while simultaneously reducing costs for active participants—a virtuous cycle that aligns holder and trader interests.

    Why Is Hyperliquid Pumping? Understanding the Sustained Momentum

    The question on many observers’ minds is whether Hyperliquid’s momentum can be sustained. Several factors suggest that the platform’s growth is built on fundamentals rather than temporary speculation.

    Real Utility Driving Sustainable Growth

    Unlike projects that achieve high volumes primarily through liquidity mining incentives that eventually dry up, Hyperliquid’s growth appears driven by genuine utility. The platform’s TVL of $6 billion reflects real value being deposited by users who intend to use the platform regularly rather than chase temporary yields. As noted by analysts at Hokanews, the TVL figures suggest users are “integrating the platform into their regular trading strategies rather than chasing temporary rewards”—a significant validation of the platform’s value proposition.

    Competitive moat Through Performance

    Hyperliquid has established a significant competitive moat through its technical capabilities. The custom-built infrastructure optimized for trading provides performance characteristics that would be extremely difficult and expensive for competitors to replicate quickly. While well-funded rivals could theoretically attempt to match these capabilities, Hyperliquid’s first-mover advantage in attracting sophisticated traders creates network effects that become stronger as volume and liquidity increase.

    Regulatory Tailwinds

    Increasing regulatory scrutiny of centralized exchanges may actually benefit Hyperliquid’s growth trajectory. As traders seek alternatives that don’t require KYC compliance or expose them to centralization risk, decentralized platforms with strong security track records become increasingly attractive. Hyperliquid’s permissionless design and self-custody model position it well to capture this demand as regulatory pressure on centralized platforms intensifies in various jurisdictions.

    Community Ownership and Governance

    The platform’s community-driven governance model creates alignment between the platform’s success and user interests. Unlike venture-backed competitors who face pressure to generate returns for investors, Hyperliquid’s self-funded model means that all value created flows back to the community. This structural advantage becomes more pronounced as the platform grows and generates more protocol revenue.

    Hyperliquid vs. The Competition

    Hyperliquid occupies a unique position in the exchange landscape, competing simultaneously with both centralized exchanges and decentralized protocols. Understanding this competitive dynamic is crucial for evaluating the platform’s future prospects.

    Compared to centralized exchanges like Binance, Hyperliquid offers clear advantages in terms of self-custody, permissionless access, and resistance to government interference. Users don’t need to complete KYC verification, can withdraw funds at any time without approval, and maintain complete control over their assets. For traders who prioritize autonomy and privacy, these benefits may outweigh the convenience advantages of centralized platforms.

    Compared to other decentralized exchanges like dYdX (on Ethereum) or various Solana-based protocols, Hyperliquid’s purpose-built infrastructure provides superior performance characteristics. Many competing decentralized exchanges suffer from high latency, limited throughput, or poor user experience during high network congestion. Hyperliquid’s custom architecture eliminates these historical objections to decentralized trading.

    The “for the people” meme culture has become a unifying theme that distinguishes Hyperliquid from competitors perceived as either too centralized (Binance and other CEXs) or too venture-backed (various DeFi protocols that raised significant funding). This cultural positioning resonates with users who have become skeptical of centralized control and investor-dominated governance in the crypto space.

    Looking Ahead: The Road to Continued Growth

    As Hyperliquid moves beyond its explosive growth phase in 2025, the platform faces the challenge of sustaining momentum while delivering on its ambitious roadmap. Several developments will be crucial in determining whether the platform can maintain its trajectory.

    The full launch of HyperEVM will be a critical test of the platform’s ability to expand beyond its derivatives-focused origins. Success in attracting developers and users to the general-purpose smart contract ecosystem would validate Hyperliquid’s ambitions as a comprehensive Layer 1 platform rather than a niche derivatives venue.

    The evolution of governance as the community grows will also be closely watched. Maintaining the engaged, productive community culture that has characterized Hyperliquid’s development will become more challenging as the user base expands. The platform’s governance mechanisms will need to scale effectively while preserving the responsiveness that has distinguished it from larger, more bureaucratic competitors.

    Regulatory developments will inevitably play a role in shaping Hyperliquid’s future. While the platform’s decentralized design provides significant protection against regulatory interference, the broader regulatory environment for decentralized finance remains uncertain. How the Hyper Foundation and community navigate potential regulatory challenges could significantly impact growth prospects.

    Conclusion: A New Model for Crypto Exchanges

    Hyperliquid represents more than just a successful cryptocurrency exchange—it embodies a philosophical alternative to the centralized, venture-funded model that has dominated the industry. By proving that a self-funded, community-driven platform can achieve performance rivaling centralized giants, Hyperliquid has demonstrated that the “fair and permissionless” vision of cryptocurrency’s early pioneers remains achievable.

    The platform’s 2025 growth—$3.2 billion in daily volume, 1.4 million users, $6 billion in TVL, and $844 million in revenue—validates the market’s appetite for decentralized alternatives that don’t compromise on performance. More importantly, the community culture that has emerged around Hyperliquid, united by “for the people” principles and genuine commitment to decentralization, provides a foundation for sustainable growth that transcends any single metric.

    Whether Hyperliquid can maintain its momentum against increasingly well-funded competitors remains to be seen. However, the platform has already accomplished something remarkable: proving that decentralized exchanges can compete with centralized alternatives on performance while offering superior alignment between platform success and user interests. In that sense, Hyperliquid has already succeeded regardless of future price action or market share battles.

    For traders considering where to execute their cryptocurrency derivatives strategies, Hyperliquid offers a compelling proposition that deserves serious consideration. For developers exploring where to build the next generation of DeFi applications, Hyperliquid’s combination of performance, liquidity, and community represents an opportunity too promising to ignore. And for cryptocurrency enthusiasts who believe in the original promise of permissionless, trustless financial systems, Hyperliquid stands as evidence that this vision is not merely nostalgic fantasy but an achievable reality.

    Key Takeaways:

    • Hyperliquid is a high-performance decentralized perpetual exchange built on its own Layer 1 blockchain

    • The platform achieved $3.2 billion in 24-hour trading volume and $6 billion TVL in 2025

    • With 1.4 million users and $844 million in annual revenue, growth appears sustainable

    • The “for the people” community culture emphasizes fair launch, self-custody, and permissionless access

    • Technical innovations including a custom matching engine enable performance rivaling centralized exchanges

    • HyperEVM expansion and portfolio margining capabilities signal ambitions beyond derivatives trading

    #Hyperliquid #DeFi #DecentralizedExchange #PerpetualFutures #CryptoTrading #Blockchain #HYPE

    “`

  • The 4-Year Bull Cycle in Bitcoin Isn’t in Play This Time

    The 4-Year Bull Cycle in Bitcoin Isn’t in Play This Time

    The Old Playbook Is Broken

    For years, the crypto community has lived and died by one sacred chart: the Bitcoin halving cycle.
    Every four years like clockwork — 2013, 2017, 2021 — Bitcoin has delivered an explosive bull market that peaked roughly 12–18 months after the halving, followed by an 80–85% bear market the next year.
    So with the April 2024 halving now 20 months behind us, and Bitcoin trading well off its all-time high after a sharp 35–40% correction, the chorus is getting louder:

    “It’s over. The blow-off top was late 2024 or early 2025. 2026 will be the bear market year. History rhymes.”

    That narrative feels comfortable because it has worked three times in a row.
    But this time, the 4-year halving cycle is no longer the dominant force driving Bitcoin’s price. In fact, it may be almost irrelevant. Here’s why.

    1. The 4-Year Cycle Was Never Really About the Halving

    The halving reduces Bitcoin’s new supply issuance by 50% every ~4 years. That is real.
    What is not real is the idea that this mechanical event alone has been the primary driver of the mega-cycles.

    Look at the actual history through a macro lens:

    • 2011–2013 bull → coincided with the post-GFC global reflation (U.S. QE2/QE3 + China’s 4-trillion-yuan stimulus)
    • 2015–2017 bull → coincided with China’s second giant property and credit reflation after the 2015 stock-market crash
    • 2019–2021 bull → coincided with the largest synchronized fiscal + monetary stimulus in recorded history (COVID)

    In every single case, the halving happened to land at roughly the same time as a once-in-a-decade global liquidity tsunami. The halving became the convenient story, but the true rocket fuel was always newly created dollars, yuan, yen, and euros chasing risk assets.

    When you detach the price history from the halving calendar and overlay it instead on global central-bank balance sheets and fiscal deficits, a very different pattern emerges: Bitcoin (and risk assets in general) go parabolic when liquidity is expanding aggressively, and they crash when liquidity contracts.

    2. The 2023–2025 Bull Was Not Driven by the Upcoming Halving Either

    Most people assume the current cycle began because markets started “pricing in” the 2024 halving.
    That’s not what actually happened.

    The real trigger was U.S. Treasury Secretary Janet Yellen’s deliberate engineering of the Reverse Repo Facility (RRP) drain. From its peak of $2.55 trillion in 2022, the RRP was systematically guided toward zero over ~24 months (Sept 2023 → early 2026). Every dollar leaving the RRP became fresh liquidity available to chase stocks, gold, real estate — and crypto.

    That engineered RRP drain acted as stealth quantitative easing while the Fed was still officially tightening. It is the primary reason every risk asset on earth began marching higher in Q4 2023 — not halving anticipation.

    3. Global Liquidity Is About to Re-Accelerate — Not Contract

    Here is where the old 4-year script completely breaks down.

    In past cycles, the year after the post-halving peak was always characterized by tightening financial conditions:

    • 2014 → China deleveraging + Fed ending QE
    • 2018 → Fed QT + China supply-side reform
    • 2022 → most aggressive Fed hiking cycle in 40 years

    2026–2028 is shaping up to be the opposite.

    • United States: Mid-term elections in 2026 will force both parties to deliver fiscal “goodies.” The incoming administration has already signaled aggressive use of deficit spending (infrastructure, AI build-out, energy dominance). Political pressure on the Federal Reserve to keep credit cheap will be extreme.
    • China: Authorities are actively fighting property deflation and youth unemployment. More stimulus is already being rolled out, with larger packages widely expected if housing continues to weaken.
    • Japan: The new government just passed the largest supplementary budget since Abenomics.
    • Europe: Rearmament and energy-transition spending are set to explode deficit spending across the continent.

    In other words, almost every major economy on earth has powerful domestic reasons to turn the money printer back on in 2025–2027. There is no global tightening regime waiting in the wings like there was in previous post-peak years.

    4. Bitcoin Has Become the Purest Liquidity Barometer

    Because Bitcoin is the most liquid, 24/7, globally traded risk asset with virtually no fundamental cash flows to anchor its valuation, it has evolved into the world’s most sensitive “smoke alarm” for changes in dollar liquidity.

    The sharp October–November 2025 correction from ~$125k to the low $80k region was Bitcoin front-running a temporary liquidity squeeze (end of aggressive RRP drain + brief government shutdown fears). Traditional markets have not yet fully priced that squeeze — meaning either:
    (a) stocks catch down and force an immediate policy response (rate cuts + fiscal stimulus), or
    (b) the squeeze proves transitory and everything rips higher again.

    Either path is bullish for Bitcoin over a 12–24 month horizon. Neither path resembles the multi-year liquidity contraction that defined previous bear markets.

    5. Positioning and Psychology Still Look Early

    Retail participation is high, but institutional allocation to crypto remains astonishingly low outside of a few spot ETFs. Leverage in the system, while elevated, is nowhere near the euphoric levels seen at true cycle tops (e.g., 2021’s 100x+ perpetual futures or 2017’s ICO mania).

    When the next undeniable wave of global stimulus hits, the amount of capital still sitting on the sidelines is enormous.

    The Bottom Line

    The Bitcoin 4-year halving cycle was always a correlation masquerading as causation. Strip away the coincidence with past liquidity cycles, and the halving’s supply impact becomes just one input among many — and a relatively minor one at that when central banks and governments are prepared to create trillions of new currency units.

    This time, the macro backdrop is not pointing to a classic post-halving peak and multi-year bear market in 2026–2027. It is pointing to a multi-year extension of the risk-asset bull market, fueled by fiscal dominance and competitive currency debasement.

    The real parabolic phase — the one people will later look back on and say “that was the actual mania” — may still be in front of us, not in the rear-view mirror.

  • Why Airdrops Are Losing Popularity in 2025?

    Why Airdrops Are Losing Popularity in 2025?

    In 2025, airdrops are no where near as common and definitely not as profitable as it was late 2024. Gone are the days where a few on-chain transactions can yield hundreds if not thousands of dollars worth of airdrops. In this article we break down what’s causing the this trend explain what is going on.

    1. Airdrops Attract Farmers, Not Loyal Users

    The core promise of airdrops was to put tokens in the hands of real users. In practice, they mostly reward farmers—automated accounts and sybil attackers who game eligibility criteria for profit.

    • Farmers complete repetitive tasks (like testnet interactions or app clicks) using bots or multiple wallets.
    • Once tokens are distributed, they sell immediately, flooding the market and crashing prices.
    • These participants rarely engage with the protocol long-term. They’re not builders, not believers—just opportunists.

    This creates a parasitic dynamic. The community looks active on paper, but it’s hollow. Metrics like TVL, transaction count, or user growth get inflated by non-organic activity, misleading investors and teams alike. In reality, farmed data says nothing about product health or future adoption.

    2. Zero Retention: Tokens Don’t Create Sticky Users

    If airdrops were meant to onboard loyal users, the data tells a different story.

    • Churn is extreme. Most airdrop recipients sell within days or weeks.
    • There’s almost no example of a broad, gamified airdrop leading to sustained usage.
    • Retentive, high-value users almost never come through airdrop channels.

    Compare the total value of tokens distributed via airdrops over the years to the actual revenue generated by top protocols. The gap is staggering. If this were traditional marketing spend, the ROI would be considered catastrophic. Billions in token value given away—yet little to no lasting impact on user behavior or protocol revenue.

    The conclusion is clear: Airdrops don’t convert free users into engaged ones. They’re not a growth engine; they’re a liquidity event for sellers.

    3. Airdrops Are Poorly Spent Marketing

    Airdrops were once seen as a low-cost way to gain attention. But attention isn’t enough—it has to be the right kind.

    • Most airdrops optimize for easily measurable but meaningless actions (e.g., “touch every button in the app”).
    • This follows Goodhart’s Law: when a measure becomes a target, it ceases to be a good measure.
    • Farmers optimize the system perfectly—then leave.

    In today’s market, long-term value (LTV) matters more than customer acquisition cost (CAC). Projects are judged on revenue, retention, and economic sustainability—not vanity metrics. Handing out tokens to transient users doesn’t move the needle on any of these.

    Even worse, airdrops dilute early supporters. Loyal holders and team members see their ownership eroded to reward people who contribute nothing and exit immediately.

    4. Better Alternatives Exist: ICOs, Linear Rewards, and Revenue Sharing

    If airdrops fail to put tokens in the right hands, what’s the alternative?

    ICOs: Sell to Committed Buyers

    • Direct token sales (like modern ICOs) let projects raise capital from aligned, long-term holders.
    • Buyers pay real money, signaling conviction.
    • Sales can include lockups, timeouts for flippers, or allocation rules to filter speculators.
    • Oversubscribed sales give leverage to the project—rewarding good behavior, not gaming.

    As one view puts it: If users are just going to sell, why not skip the middleman and sell the tokens yourself?

    Linear Airdrops & Performance Rewards

    Not all token distributions are equal. Pay-for-performance models work when tied to real contributions:

    • Providing liquidity
    • Lending/borrowing capital
    • Securing networks

    These “linear airdrops” (common in DeFi) align incentives. You earn based on value added—not arbitrary tasks. Protocols like top revenue generators today often succeed without broad airdrops, relying instead on economic flywheels.

    Revenue Sharing: Value Accrues to Holders

    With regulatory clarity improving, protocols can now activate fees and direct revenue to token holders. This creates real economic alignment—no free lunch required.

    5. The 2025 Meta: Revenue Over Hype

    Crypto in 2025 is in a revenue meta. Markets reward:

    • Sustainable business models
    • Real cash flow
    • Defensible moats

    Airdrops belong to a previous era—one of endless hype, zero accountability, and “number go up” at any cost. That playbook no longer works.

    • Top protocols by revenue? Few did large airdrops.
    • High-retention apps? Built through product, not giveaways.
    • Investor diligence? Now strips out farmed metrics entirely.

    The experiment has been run. The verdict: Airdrops are net negative for most projects.

    The Future: Smarter Distribution, Stronger Alignment

    Airdrops won’t disappear entirely. They may live on in niche forms:

    • Targeted rewards for early testers
    • Bounties for bug finds or content
    • Retroactive grants to genuine contributors

    But the era of mass, gamified, “free money” airdrops is over.

    Projects now prioritize:

    • Clarity: One asset, one incentive structure
    • Alignment: Reward contribution, not exploitation
    • Sustainability: Build revenue, not illusions

    In 2025, crypto isn’t about tricking people into using your app. It’s about building something people want to use—and getting paid for it.

    The death of the airdrop isn’t a loss. It’s a sign of maturity.

  • TOKEN2049 Singapore 2025: Big Things are Coming!

    TOKEN2049 Singapore 2025: Big Things are Coming!

    On October 1-2, 2025, Marina Bay Sands in Singapore will transform into a five-floor “pop-up city” for TOKEN2049, the world’s largest Web3 event, drawing a record-breaking 25,000 attendees from over 160 countries. With 7,000+ companies, 500+ exhibitors, and 70% of attendees being C-suite executives, this year’s edition underscores the crypto industry’s shift from speculative frenzy to a mature, infrastructure-driven ecosystem. Amidst ziplines, pickleball courts, and live DJ sets, TOKEN2049 Singapore 2025 is not just a conference—it’s a global stage for innovation, deal-making, and cultural celebration, redefining how the Web3 community connects and builds the future.

    Use Promo Code BOXMININGM15 for 15% discount at https://sg2025.token2049.com/

    A Maturing Crypto Landscape Takes Center Stage

    The crypto industry has come a long way since the ICO mania of 2017, and TOKEN2049 Singapore 2025 reflects this evolution with a focus on institutional adoption, technological scalability, and real-world applications. High-profile speakers like Eric Trump and Donald Trump Jr. (World Liberty Financial), Vlad Tenev (Robinhood), Paolo Ardoino (Tether), and Balaji Srinivasan (The Network State) will dive into topics shaping the industry’s next phase: institutional DeFi, Layer 2 solutions, tokenized real-world assets (RWAs), Bitcoin ETFs, and the convergence of AI and blockchain. These discussions signal a sector moving beyond retail speculation to one where enterprises, regulators, and innovators align for global impact.

    Source: https://www.asia.token2049.com/speakers

    The event’s programming highlights this maturation. Panels and keynotes will explore how regulatory clarity in regions like Singapore is fostering institutional trust, while technological advancements—such as Ethereum’s scaling solutions and Bitcoin’s Taproot upgrade—are enabling more efficient, secure networks. Over 500 exhibitors, including title sponsors like OKX, Coinbase, and TRON, will showcase tools and platforms that bridge traditional finance with decentralized systems, underscoring the industry’s growing legitimacy. As Alex Fiskum, co-founder of TOKEN2049, notes, “This will be our most ambitious edition yet, with the global crypto community converging in Singapore to shape the digital asset industry.”

    Innovation in Action: The Origins Hackathon and NEXUS Startup Competition

    At the heart of TOKEN2049’s innovation push are two marquee initiatives: the TOKEN2049 Origins Hackathon and the NEXUS startup competition. The hackathon, debuting in 2025, is a 36-hour sprint uniting 160 of the world’s top developers to build next-generation Web3 solutions. Participants will collaborate under the guidance of mentors, pitching their projects for prizes, funding, and global recognition before 25,000 attendees, media, and industry leaders. This high-energy environment fosters rapid ideation, turning concepts into working prototypes that could redefine blockchain applications.

    Source: https://www.asia.token2049.com/2049-origins

    The NEXUS startup competition, now in its second year and recognized as the world’s largest Web3 startup contest, amplifies this spirit of entrepreneurship. In collaboration with top-tier venture capital firms like Dragonfly, Pantera, and Maelstrom, NEXUS offers startups a global stage to pitch groundbreaking projects. Following the success of 2024’s winner, Battlebound, the 2025 edition promises even greater visibility, with 10 finalists vying for equity-free prizes and investor attention. These initiatives highlight TOKEN2049’s role as a launchpad for the next wave of Web3 unicorns, bridging visionary founders with the capital and networks needed to scale.

    A Festival of Networking and Culture

    Beyond its focus on innovation, TOKEN2049 Singapore 2025 redefines the conference experience with a festival-like atmosphere that blends business with celebration. Spanning all five floors of Marina Bay Sands, the event features ziplines, rock-climbing walls, pickleball courts, cold plunges, breathwork sessions, and live performances, creating an immersive environment that energizes attendees. High-quality, organic meals and on-site wellness services like massages and barbers elevate the experience, emphasizing both professional and personal growth.

    Source: Odaily

    This vibrant setting is a networking powerhouse. With over 1,000 side events during TOKEN2049 Week (Sept 29–Oct 5), including meetups, workshops, and themed dinners, attendees can forge connections across borders and industries. The week culminates in the unmissable Grand Prix Weekend Party at the Marina Bay Sands SkyPark, where the global crypto community mingles against the backdrop of Singapore’s Formula 1 festivities. As one X post described it, “TOKEN2049 is where deals are made, ideas are born, and the future of Web3 takes shape.” The AI-driven Networking 3.0 app further enhances these connections, matching founders, investors, and developers for meaningful collaborations.

    Singapore: The Global Crypto Hub

    TOKEN2049’s scale and ambition cement Singapore’s status as Asia’s crypto epicenter. The city’s regulatory clarity, technological infrastructure, and global connectivity make it the ideal host for an event that draws decision-makers from 160+ countries. As the crypto industry matures, Singapore’s role as a bridge between East and West positions it to shape the global Web3 narrative. The event’s 25,000 attendees—representing founders, investors, developers, and policymakers—reflect this diversity, creating a melting pot of ideas that will drive the industry forward.

    Source: Cayman Finance

    TOKEN2049 Singapore 2025 is more than an event; it’s a snapshot of an industry at a turning point. By spotlighting institutional adoption, fostering innovation through the Origins Hackathon and NEXUS competition, and creating a festival-like networking hub, it captures the crypto sector’s evolution into a mature, impactful ecosystem. As attendees zip-line across Marina Bay Sands, pitch groundbreaking ideas, or close deals over gourmet meals, they’re not just participating in a conference—they’re shaping the future of Web3. For those looking to join, tickets are selling fast, with prices rising to USD $599 as demand soars.

    Secure your spot at https://sg2025.token2049.com/ and use BOXMININGM15 for 15% discount!

  • Ethereum (ETH): What is it? The complete beginners guide

    Ethereum (ETH): What is it? The complete beginners guide

    What is Ethereum?

    Ethereum is a decentralized blockchain platform that allows developers to build and deploy smart contracts and decentralized applications (dApps). First proposed in 2013 by Vitalik Buterin, Ethereum has grown into one of the most influential technologies in the blockchain space, supporting a vast ecosystem of financial services, gaming platforms, social networks, and enterprise solutions.

    Decentralization vs. Centralization

    Most traditional systems—such as banks, tech companies, and social media platforms—operate under centralized control. Ethereum offers an alternative model where users interact directly through trustless protocols, eliminating intermediaries and enabling peer-to-peer collaboration.

    Ethereum Network and Ether (ETH)

    Ethereum provides the infrastructure for executing smart contracts, running dApps, and managing tokenized assets. Its native currency, Ether (ETH), is used to pay for transactions and computational services—commonly referred to as “gas.” ETH also functions as a store of value and is widely used across decentralized finance (DeFi) platforms.

    Smart Contracts and dApps

    Smart contracts are self-executing programs that run exactly as coded, without human intervention. Developers use Ethereum’s programming language, Solidity, to create dApps that span industries such as finance, insurance, gaming, and identity verification.

    Key characteristics of dApps include:

    • Open Source: Code is publicly accessible and governed by community consensus.
    • Decentralized: Data is stored on the blockchain and not controlled by any single entity.
    • Incentivized: Users are rewarded with tokens for participation.
    • Protocol-Based: Operates on cryptographic algorithms agreed upon by the community.

    Ethereum 2.0 and Recent Developments

    Ethereum completed its transition to Proof of Stake (PoS) in 2022, replacing the energy-intensive Proof of Work (PoW) model. This shift significantly reduced Ethereum’s energy consumption and introduced staking, allowing users to lock up ETH to help secure the network and earn rewards.

    Recent upgrades include:

    • Danksharding: Enhances scalability and reduces transaction costs by improving data availability.
    • Verkle Trees: Introduces a new data structure that optimizes storage and makes Ethereum nodes more efficient.
    • Account Abstraction: Simplifies wallet interactions and enables programmable accounts.

    As of mid-2025, Ethereum supports over one million active dApps and secures more than $500 billion in value across DeFi, NFTs, and enterprise applications.

    What is Decentralization

    Decentralization distributes control across a network, removing reliance on central authorities. Ethereum leads this shift by running smart contracts and dApps on a global node network, secured by Proof of Stake. Upgrades like Danksharding, Verkle Trees, and Account Abstraction have made it more scalable and user-friendly. By 2025, decentralization powers not just finance but also identity, governance, and digital platforms.

    Ethereum Network

    Ethereum is a decentralized smart contract platform that enables developers to build dApps and financial protocols without relying on central authorities. As of 2025, it runs on Proof of Stake, with major upgrades like Danksharding, Verkle Trees, and Account Abstraction improving scalability, efficiency, and user experience. Ether (ETH) remains the native currency, used for transactions and powering smart contracts across a diverse ecosystem spanning finance, gaming, identity, and more.

    Decentralized Platform

    Ethereum is a decentralized smart contract platform that enables developers to build dApps and financial protocols without relying on central authorities. As of 2025, it runs on Proof of Stake, with major upgrades like Danksharding, Verkle Trees, and Account Abstraction improving scalability, efficiency, and user experience. Ether (ETH) remains the native currency, used for transactions and powering smart contracts across a diverse ecosystem spanning finance, gaming, identity, and more.

    Main features of Ethereum

    Ethereum 2
    Ethereum 2

    Ethereum is a decentralized, open-source platform designed for building and running smart contracts and dApps. Its key features include:

    • Decentralized Infrastructure: No single entity controls the network; thousands of nodes maintain consensus globally.
    • Proof of Stake (PoS): Since 2022, Ethereum uses PoS for energy-efficient validation and staking rewards.
    • Smart Contract Automation: Programs execute automatically based on predefined conditions, without human intervention.
    • Public Accessibility: Anyone with an internet connection can interact with the network and deploy applications.
    • Native Currency (ETH): Ether is used to pay for gas fees, secure the network, and facilitate transactions.
    • Scalability Enhancements: Danksharding and Verkle Trees improve data efficiency and reduce transaction costs.
    • Account Abstraction: Introduced in 2024, it allows customizable wallet behavior and simplifies user interactions.

    These features make Ethereum a foundational layer for decentralized finance, digital identity, gaming, and more.

    What are dApps?

    Users can build and run decentralized applications (dApps) on blockchain networks like Ethereum. These applications serve specific functions and operate without centralized control. As of 2025, dApps have expanded across industries including finance, gaming, identity, and social media. They typically share the following features:

    • Open Source: The source code is publicly accessible. Updates require consensus from the community.
    • Decentralized: Data and transaction history are stored on public blockchains, not controlled by any single entity.
    • Incentivized: Users are rewarded with tokens or digital assets for participation and contributions.
    • Protocol-Based: Operate on agreed-upon cryptographic algorithms. Ethereum now uses Proof of Stake (PoS) for consensus.
    • Programmable Accounts: Thanks to Account Abstraction, dApps can offer flexible wallet behavior and enhanced user experience.
    • Scalable Infrastructure: Upgrades like Danksharding and Verkle Trees have improved performance and reduced costs.

    Examples of dApps in 2025 include:

    • Aave: A decentralized lending and borrowing platform.
    • OpenSea: A marketplace for NFTs and digital collectibles.
    • Illuvium: A blockchain-based game with tokenized assets and play-to-earn mechanics.

    Future of Ethereum

    Ethereum’s future is increasingly defined by scalability, usability, and real-world integration. Since its full transition to Proof of Stake in 2022, Ethereum has undergone major upgrades including Danksharding, which significantly boosts transaction throughput, and Verkle Trees, which reduce node storage requirements and improve network efficiency. Account Abstraction, now widely adopted, allows for programmable wallets and more intuitive user experiences, making dApps accessible to mainstream users. Ethereum continues to serve as the backbone for decentralized finance, NFTs, and Web3 infrastructure, with growing adoption in enterprise and government sectors. As of 2025, Ethereum is preparing for further enhancements focused on privacy, modular execution environments, and cross-chain interoperability, positioning itself as a foundational layer for a decentralized internet.

  • Ethereum 2.0 – Here’s what you NEED to know

    Ethereum 2.0 – Here’s what you NEED to know

    Ethereum has changed a lot since the Ethereum 2.0 upgrade began. Now fully running on Proof-of-Stake, the network is faster, cheaper, and uses way less energy. With sharding and other upgrades complete, Ethereum can handle over 100,000 transactions per second, making it a top choice for apps, games, and finance tools.

    This article explains how Ethereum got here, what each upgrade did, and why it matters. Whether you’re new to crypto or already staking ETH, this guide will help you understand Ethereum’s journey and what’s next.

    What is Ethereum 2.0?

    Ethereum 2.0—now simply called Ethereum—was a major upgrade that transformed the network from Proof-of-Work to Proof-of-Stake. This shift made Ethereum far more energy-efficient and scalable. The upgrade included several key milestones:

    • The Merge (2022): Combined the original Ethereum mainnet with the Beacon Chain, switching the consensus mechanism to Proof-of-Stake.
    • Sharding (Completed 2024): Split the network into multiple shards to boost speed and reduce costs. Ethereum now handles over 100,000 transactions per second.
    • Staking: Users can earn passive income by staking ETH to help secure the network. As of mid-2025, staking yields average around 3.7% APR. Check out our staking guide HERE

    These upgrades have made Ethereum faster, cheaper, and more accessible. Validators no longer need expensive hardware, and anyone can run a node—even from a laptop or phone. Ethereum now powers a massive ecosystem of DeFi apps, NFTs, and Web3 platforms, and continues to lead innovation in blockchain technology.

    This guide will cover the timeline for the upgrade to ETH2.0 and the solutions proposed.

    Ethereum 2.0 Key features and what you need to know video

    The 3 Phases of Ethereum 2.0

    Ethereum 2.0 will be launched in 3 phases:

    • Phase 0- Beacon Chain – Completed in 2020
    • Phase 1- The Merge – Completed September 2022
    • Phase 2- Sharding

    Ethereum 2.0—now simply Ethereum—was rolled out in three major phases, each transforming the network’s scalability, security, and sustainability:

    Phase 0: Beacon Chain (Completed December 2020)

    This phase introduced the Proof-of-Stake consensus mechanism via the Beacon Chain. It ran in parallel with the original Ethereum chain and laid the foundation for future upgrades by coordinating validators and generating randomness for staking.

    Phase 1: The Merge (Completed September 2022)

    The Merge combined the Beacon Chain with Ethereum’s mainnet, officially transitioning the network from Proof-of-Work to Proof-of-Stake. This reduced Ethereum’s energy consumption by over 99.9% and eliminated the need for mining.

    Phase 2: Sharding (Completed Q4 2024)

    Sharding split Ethereum’s data processing across multiple chains (“shards”), dramatically increasing throughput and lowering costs. Combined with Layer 2 rollups, Ethereum now handles over 100,000 transactions per second. Validators can run nodes on lightweight devices, boosting decentralization and accessibility.

    Main features of sharding:

    Ethereum’s sharding implementation is now complete, delivering major improvements in scalability and decentralization:

    • Lightweight Node Requirements: Validators no longer need to store the full blockchain. Thanks to data sampling and blob transactions, even mobile devices can run nodes.
    • Greater Security via Decentralization: With over a million active validators, Ethereum is more resilient and censorship-resistant than ever.
    • High Throughput: Combined with Layer 2 rollups, sharding enables over 100,000 transactions per second, significantly reducing gas fees.
    • Efficient Data Distribution: Ethereum uses 64 shards to spread data across the network, minimizing congestion and improving performance.
    • Optimized Rollup Integration: Rollups now directly access shard data, making them faster and cheaper, and enabling new use cases like real-time data feeds and decentralized AI.

    What are layer 2 rollups?

    Layer 2 rollups are scaling solutions that execute transactions off-chain and post compressed data back to Ethereum, reducing congestion and lowering fees. As of 2025, rollups have matured into the backbone of Ethereum’s scalability strategy.

    • Optimistic and ZK Rollups: Both types are widely adopted. ZK rollups, in particular, have gained traction for their speed and security, powering applications in DeFi, gaming, and identity verification.
    • Blob Transactions and Proto-Danksharding: Introduced in the Cancun-Deneb upgrade, blob-carrying transactions allow rollups to post large data payloads efficiently. This has drastically reduced costs and improved throughput.
    • Rollup-Centric Ethereum: Ethereum now functions as a data availability and settlement layer, while most user activity occurs on rollups. This architecture supports over 100,000 transactions per second.
    • Interoperability and Composability: Rollups are increasingly interoperable, allowing seamless asset transfers and smart contract interactions across different Layer 2s.
    • Decentralized Applications at Scale: From social media platforms to real-time multiplayer games, rollups have enabled dApps that were previously impossible on Layer 1 due to cost and latency.

    Learn more: Understanding layer 2 & scaling solutions: Arbitrum, Boba, Optimism, Polygon, Ethereum 2.0

    What is the current state of Ethereum 2.0?

    Ethereum 2.0—now simply referred to as Ethereum—has completed its major transition phases and entered a new era of scalability and decentralization. Here’s a snapshot of its current state:

    • Proof-of-Stake Fully Operational: Since the Merge in September 2022, Ethereum has run entirely on Proof-of-Stake. Validator participation remains high, with over 1 million active validators and a network participation rate consistently above 99%.
    • Sharding Completed: As of late 2024, Ethereum successfully launched 64 shards, dramatically improving data throughput and enabling lightweight node operation. This has made it possible to run validator nodes on consumer-grade devices.
    • Rollup-Centric Architecture: Most user activity now occurs on Layer 2 rollups, which post data back to Ethereum using blob transactions introduced in the Cancun-Deneb upgrade. This architecture supports over 100,000 transactions per second.
    • Post-Merge Upgrades: Ethereum has progressed through the “Surge” (scaling via sharding), and is actively implementing the “Scourge,” “Verge,” “Purge,” and “Splurge”—a series of upgrades focused on censorship resistance, stateless clients, historical data cleanup, and protocol refinement.
    • Staking and Withdrawals: Withdrawals have been enabled since the Shanghai (Shapella) upgrade in April 2023. Staking remains popular, with yields averaging 3.5–5% annually depending on network conditions.
    • EVM Improvements: The Ethereum Virtual Machine has seen multiple enhancements, including support for Verkle trees and EOF (EVM Object Format), improving efficiency and developer experience.

    How to set up an Ethereum Validator Node

    Check out our LIVE demonstration on how to set up an Ethereum 2.0 Node

    How to set up an Ethereum 2.0 node

    I’ve also set up something called an Ethereum validator node for Ethereum 2.0. These nodes will be how Ethereum would run and how transactions are going to be validated in the future. So we’re going to explore all of these concepts as well in this guide.

    Currently you can test out Ethereum staking on the ETH 2.0 Testnet set up by Prysmatic labs (aka Topaz). Since it’s a test, Ethereum will not be used, instead, it will use Göerli ETH, a free testnet version of ETH.

    Time needed: 2 days

    How to set up an Ethereum (ETH) Validator Node
    This guide has been adapted from the Prysm ‘Topaz’ Testnet Guide

    1. Get some GĂśerli ETH

      GĂśerli ETH is free to obtain and will be used to stake the 32 ETH required for the node. The easiest way to obtain the GĂśerli ETH is to use the social faucet.

    2. Spin up a Server

      You’ll need to be familiar with running a VPS server (you can use AWS, Hetzner or Linode). Recommended specs include an Intel Core i7 processor with 100 GB of SSD storage

    3. Start your Beacon Node

      Easiest way we found to do this is via Docker
      docker run -it -v $HOME/prysm/beacon:/data -p 4000:4000 -p 13000:13000 \ gcr.io/prysmaticlabs/prysm/beacon-chain:latest \ –datadir=/data

    4. Generating a validator keypair

      docker run -it -v $HOME/prysm/validator:/data \ gcr.io/prysmaticlabs/prysm/validator:latest \ accounts create –keystore-path=/data

      Complete the steps here to stake the ETH

    5. Starting up the validator client

      docker run -it -v $HOME/prysm/validator:/data –network=”host” \ gcr.io/prysmaticlabs/prysm/validator:latest \ –beacon-rpc-provider=127.0.0.1:4000 \ –keymanager=keystore \ –keymanageropts='{“path”:”/data”,”passphrase”:”changeme”}’

    6. Finish the activation

      Wait (roughly 2 days) to get activated, and then you’re good to go!

    Staking Ethereum on a validator node

    Ethereum now operates fully under Proof-of-Stake, and staking remains a core mechanism for securing the network and earning passive income.

    • Stake Requirement: 32 ETH is required to activate a validator. This stake acts as collateral to ensure honest behavior and network uptime.
    • Rewards: Annual staking yields range from 3.5% to 5%, depending on network conditions and validator performance. Rewards are paid in ETH and accumulate over time.
    • Withdrawals: Since the Shanghai (Shapella) upgrade in April 2023, stakers can withdraw both principal and rewards. Withdrawals are processed in queue and typically take hours to days.
    • Risks: Validators face penalties for downtime or incorrect attestations. Slashing is rare but possible in cases of malicious behavior or prolonged inactivity.
    • Network Health: As of August 2025, over 1 million validators are active, and more than 30 million ETH is staked. Participation rates consistently exceed 99%, ensuring robust security.
    • Liquid Staking Options: For users with less than 32 ETH or those seeking flexibility, platforms like Lido, Rocket Pool, and Coinbase offer tokenized staking (e.g. stETH, rETH) with instant liquidity and pooled validation.

    Ethereum Staking: Deposit contract address release

    The Ethereum staking deposit contract was officially released on November 4, 2020, marking the beginning of Phase 0 and enabling users to stake ETH and become validators. While the original launch required careful navigation through the Ethereum Launchpad, staking has since become more streamlined and widely accessible.

    As of 2025:

    • Deposit Contract Still Active: The original deposit contract remains the gateway for validator activation. Users must still follow the Launchpad process to generate keys and deposit 32 ETH securely.
    • Withdrawals Enabled: Since the Shanghai (Shapella) upgrade in April 2023, stakers can withdraw both rewards and principal. This has made staking more flexible and liquid.
    • Validator Growth: Over 1 million validators are now active, with more than 30 million ETH staked. Participation rates consistently exceed 99%, ensuring strong network security.
    • Liquid Staking Alternatives: Platforms like Lido, Rocket Pool, and Coinbase offer pooled staking and tokenized derivatives (e.g., stETH, rETH), allowing users to stake without the full 32 ETH requirement.
    • Security Reminder: Sending ETH directly to the deposit contract without using the Launchpad will still result in a failed transaction. Proper setup remains essential to avoid loss of funds or penalties.

    Ethereum Staking Update: Yields?

    Ethereum staking yields have stabilized following the full rollout of Proof-of-Stake and the Shanghai upgrade, which enabled withdrawals in April 2023.

    Risk Factors: While slashing remains rare, validators must maintain uptime and correct behavior to avoid penalties. Liquid staking platforms typically abstract these risks for users.

    Current APR: As of August 2025, the average annual percentage return (APR) for staking ETH ranges between 3.5% and 4.2%, depending on validator performance and network activity.

    Yield Trends: Early stakers enjoyed higher returns (up to 16% pre-Merge), but yields have normalized as validator participation increased. Over 30 million ETH is currently staked, with more than 1 million active validators.

    Liquid Staking: Tokenized staking options like stETH (Lido), rETH (Rocket Pool), and cbETH (Coinbase) offer competitive yields and instant liquidity, making them popular among users with less than 32 ETH.

    Rewards Distribution: Staking rewards are paid in ETH and accumulate continuously. Validators earn from proposing blocks, attesting to others, and participating in sync committees.

    You can check the current APR, total ETH staked, and number of validators here.

    Progress of Ethereum 2.0 so far

    Ethereum 2.0—now simply Ethereum—has completed its major upgrade phases and transitioned into a scalable, energy-efficient, and decentralized network. Here’s a summary of its progress:

    • Beacon Chain (Phase 0): Launched in December 2020, introducing Proof-of-Stake and laying the foundation for future upgrades.
    • The Merge (Phase 1): Completed in September 2022, merging the Beacon Chain with Ethereum’s mainnet and eliminating Proof-of-Work. This reduced energy consumption by over 99.9%.
    • Sharding (Phase 2): Rolled out in late 2024, Ethereum now operates with 64 shards, enabling lightweight node operation and dramatically increasing data throughput.
    • Post-Merge Upgrades: Ethereum has entered the “Surge,” “Scourge,” “Verge,” “Purge,” and “Splurge” phases—targeting scalability, censorship resistance, stateless clients, historical data cleanup, and protocol refinement.
    • Network Metrics: As of August 2025, over 30 million ETH is staked across more than 1 million validators. Participation rates remain above 99%, ensuring strong consensus and security.
    • Rollup-Centric Architecture: Most user activity now occurs on Layer 2 rollups, which leverage blob transactions for efficient data posting. Ethereum supports over 100,000 transactions per second.

    What’s next in the development of Ethereum 2.0?

    With the Merge and Sharding now complete, Ethereum has entered the post-2.0 era, focusing on refinement, decentralization, and long-term sustainability.

    Ethereum 2.0 setup and architecture

    The roadmap outlined by Vitalik Buterin continues through five major upgrade phases:

    • The Surge: Completed in late 2024, this phase introduced sharding and significantly boosted scalability. Ethereum now supports over 100,000 transactions per second, primarily through rollups.
    • The Scourge: Currently underway, this phase addresses MEV (Maximal Extractable Value) risks and aims to ensure fair, neutral transaction inclusion. Protocol-level changes are being tested to reduce centralization in block production.
    • The Verge: Focused on stateless clients and Verkle trees, this phase will allow validators to operate without storing full blockchain data. It’s expected to launch in stages through 2026, improving decentralization and node efficiency.
    • The Purge: Aimed at reducing historical data bloat, this phase will simplify node operation by removing unnecessary legacy data. It will also streamline the Ethereum protocol for developers.
    • The Splurge: A collection of smaller upgrades and optimizations, including EVM improvements, fee market refinements, and UX enhancements. These updates are ongoing and released incrementally.

    Updated Ethereum roadmap

    What will happen after ETH 2.0 is launched?

    Ethereum 2.0 is no longer a future milestone—it’s now fully integrated into the Ethereum protocol. The network has transitioned from Proof-of-Work to Proof-of-Stake, implemented sharding, and embraced a rollup-centric architecture. Here’s what has unfolded since the launch:

    • Scalability Achieved: Ethereum now supports over 100,000 transactions per second through a combination of sharding and Layer 2 rollups. This has eliminated congestion and dramatically reduced gas fees.
    • Energy Efficiency: The network consumes over 99.9% less energy than it did under Proof-of-Work, making Ethereum one of the most sustainable major blockchains.
    • Validator Participation: Over 1 million validators are active, securing the network with more than 30 million ETH staked. Lightweight node requirements have enabled broader participation.
    • Rollup Dominance: Most user activity now occurs on Layer 2 platforms like Arbitrum, Optimism, and zkSync. Ethereum Layer 1 serves primarily as a settlement and data availability layer.
    • Reduced Competition from “Ethereum Killers”: With its scalability and efficiency challenges resolved, Ethereum has maintained its dominance in DeFi, NFTs, and Web3 infrastructure. Competing chains have shifted focus to niche use cases or interoperability.
    • Ongoing Upgrades: Ethereum is now progressing through the “Scourge,” “Verge,” “Purge,” and “Splurge” phases, which aim to improve censorship resistance, decentralization, protocol simplicity, and developer experience.

    Eventually, the number of transactions per second will drastically increase to over 100,000 tps. So, the question would be, what would happen to the competition i.e. the “Ethereum killers”? Find out more in our article: Ethereum Merge is coming, is this the end of Ethereum killers?

    Frequently Asked Questions (FAQ)

    Will Ethereum 2.0 replace Ethereum?

    No. Ethereum 2.0 was a series of upgrades that merged into the existing Ethereum network. The term is now outdated—Ethereum runs on Proof-of-Stake and sharding, but it’s still the same ETH.

    Is there a new ETH coin?

    No new coin was created. ETH remains the native currency. Beware of scams offering “ETH2” tokens—they don’t exist.

    Can I withdraw staked ETH?

    Yes. Since the Shanghai (Shapella) upgrade in April 2023, both staking rewards and principal can be withdrawn.

    What’s the current staking yield?

    As of August 2025, staking yields range from 3.5% to 4.2% annually, depending on network activity and validator performance.

    Do I need 32 ETH to stake?

    Not necessarily. While 32 ETH is required to run a validator node, liquid staking platforms like Lido, Rocket Pool, and Coinbase allow staking with smaller amounts.

    Is staking risky?

    Staking is generally safe, but validators can be penalized for downtime or malicious behavior. Liquid staking abstracts most of these risks for casual users.

    Will Ethereum gas fees be lower now?

    Yes. With sharding and rollups fully deployed, Ethereum can process over 100,000 transactions per second, significantly reducing gas fees.

    Can I run a validator on a regular device?

    Yes. Thanks to sharding and protocol optimizations, validators can now run on laptops or even mobile devices.

    What happened to Ethereum mining?

    Mining ended with the Merge in September 2022. Ethereum now uses Proof-of-Stake, and mining is no longer part of the protocol.

    Will exchanges or dApps be affected?

    No major disruptions occurred. Most exchanges and dApps transitioned smoothly during the upgrades.

    Is ETH staking taxable?

    Tax implications vary by country. In general, staking rewards are considered income and may be taxable when received.

    What’s next for Ethereum?

    Ethereum is progressing through the Verge, Purge, Scourge, and Splurge phases—focused on decentralization, data cleanup, MEV mitigation, and protocol refinement.

    Further reading

    Ethereum Foundation: https://ethereum.org/en/upgrades

    Pyrsmatic Labs: https://medium.com/prysmatic-labs/how-to-scale-ethereum-sharding-explained-ba2e283b7fce

    Ethereum Wallet holders: https://bitinfocharts.com/comparison/activeaddresses-eth.html

    Disclaimer: Cryptocurrency trading involves significant risks and may result in the loss of your capital. You should carefully consider whether trading cryptocurrencies is right for you in light of your financial condition and ability to bear financial risks. Cryptocurrency prices are highly volatile and can fluctuate widely in a short period of time. As such, trading cryptocurrencies may not be suitable for everyone. Additionally, storing cryptocurrencies on a centralized exchange carries inherent risks, including the potential for loss due to hacking, exchange collapse, or other security breaches. We strongly advise that you seek independent professional advice before engaging in any cryptocurrency trading activities and carefully consider the security measures in place when choosing or storing your cryptocurrencies on a cryptocurrency exchange.

  • Buying Cryptocurrency Using Ledger Live: A Step-by-Step Guide

    Buying Cryptocurrency Using Ledger Live: A Step-by-Step Guide

    Ledger Live now lets users buy cryptocurrencies directly with credit/debit cards or bank transfers, thanks to integrated services from MoonPay, Ramp, Sardine, and PayPal. Purchased assets are sent straight to your Ledger Nano S Plus, Nano X, or Stax, eliminating the need for external exchanges. This guide walks you through the steps on securely buying cryptocurrency using Ledger Live.

    Available Cryptocurrencies

    Ledger Live now supports over 500 cryptocurrencies natively, with additional access to 5,000+ coins and tokens through third-party wallet integrations. Users can securely buy, send, receive, swap, and stake many of these assets directly within the Ledger Live app.

    Here are some popular cryptocurrencies available on Ledger Live:

    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Tether (USDT)
    • USD Coin (USDC)
    • Ripple (XRP)
    • Binance Coin (BNB)
    • Solana (SOL)
    • Cardano (ADA)
    • Dogecoin (DOGE)
    • Polkadot (DOT)
    • Litecoin (LTC)
    • Avalanche (AVAX)
    • Tron (TRX)
    • Monero (XMR)
    • Shiba Inu (SHIB)
    • Tezos (XTZ)
    • Cosmos (ATOM)
    • Uniswap (UNI)
    • Algorand (ALGO)

    Token Support

    Here are the types of tokens supported by Ledger Live:

    • ERC-20 tokens on Ethereum
    • BEP-20 tokens on Binance Smart Chain
    • SPL tokens on Solana (via third-party wallets like Phantom)
    • Polygon tokens and NFTs

    Third-Party Wallet Compatibility

    For assets not natively supported in Ledger Live, users can connect their Ledger device to wallets such as:

    • MetaMask (Ethereum and EVM chains)
    • Phantom (Solana)
    • Electrum (Bitcoin)
    • Yoroi (Cardano)

    To view the full list of supported assets and compatible wallets, see Ledger’s official supported crypto page.

    How to Buy Cryptocurrencies Using Ledger Live

    Follow these steps to buy cryptocurrencies using Ledger Live:

    1. Set up your Ledger device and Ledger Live app from ledger.com. . Connect your Nano X, S Plus, or Stax and complete device initialization.
    2. Open Ledger Live, go to “Accounts”, and add a crypto account by installing the relevant app and syncing your device.
    3. Go to “Buy/Sell”, select your crypto asset and desired amount. Ledger Live shows offers from providers based on your location and payment method.
    4. Choose a provider and follow prompts to complete the purchase. Crypto is sent directly to your Ledger wallet.
    5. Supported payment options include credit/debit cards, bank transfers (SEPA, ACH), and Coinbase Pay.
    6. Most providers require ID verification. Purchases are protected by Ledger’s Clear Signing on your device.

    How to Register a Coinify Account on Ledger Live

    Here is a step by step guide on how to register a Coinify Account on Ledger Live:

    1. Open Ledger Live and go to the Buy/Sell tab. Select Coinify as your provider.
    2. Click “Create account” and enter your email and password.
    3. Confirm your email address via the link sent by Coinify.
    4. Complete the Know Your Customer (KYC) process: Provide your full name, residential address, and intended use of the account. Upload a valid government-issued ID (passport or national ID card). Finally, perform a facial scan using your device’s camera.
    5. Coinify will automatically verify your identity. The process typically takes around 2 minutes.
    6. Once verified, your Coinify account is ready to use for buying or selling crypto directly through Ledger Live.
    Create a Coinify account
    Create a Coinify account

    How to Add a New Account on Ledger Live for Cryptocurrency Purchases

    Here is a step by step guide on how to add a new account on Ledger Live to buy cryptocurrencies:

    1. Open Ledger Live and ensure you’re using the latest version. As of August 2025, the latest version of Ledger Live is 2.120.1, released on July 17, 2025.
    2. Connect and unlock your Ledger device (Nano S Plus, Nano X, or Stax).
    3. Install the required crypto asset app on your device (e.g., Bitcoin app for BTC, Ethereum app for ERC-20 tokens).
    4. In Ledger Live, go to the “Accounts” tab and click “Add account”.
    5. Select the cryptocurrency you want to add from the dropdown list.
    6. Open the corresponding app on your Ledger device when prompted. Ledger Live will sync with the blockchain.
    7. Choose to add a new account or import an existing one. Note: You can’t add a second account for the same asset unless the previous one has at least one transaction.
    8. Assign a name to your new account and click “Add account”. You can repeat the process to add more accounts or click “Done” to finish.

    How to Purchase Cryptocurrencies on Ledger Live with Other Partners

    Ledger Live allows users to buy crypto through integrated providers like MoonPay, BTC Direct, Coinbase Pay, Transak, Ramp, Mercuryo, Coinify, and Wyre (U.S. only). These partners are accessed via the Buy/Sell tab.

    Here is a step by step guide on how to purchase cryptocurrencies on Ledger Live with other partners:

    1. Open Ledger Live and go to Buy/Sell.
    2. Connect and unlock your Ledger device.
    3. Select the crypto to buy and input location and payment method.
    4. Review quotes from available providers.
    5. Complete KYC verification (email, name, address, ID, and selfie/scan).
    6. Choose payment method: credit/debit card or bank transfer.
    7. Confirm purchase; crypto is sent directly to your Ledger wallet.

    Supported fiat currencies include USD, EUR, GBP, JPY, HKD, and AUD. Note that provider and payment method availability vary by country. Purchases are protected by Ledger’s Clear Signing protocol and non-custodial delivery.

    User Experience and Conclusion

    Ledger Live offers a secure, streamlined way to buy crypto directly through verified partners like Coinify, MoonPay, BTC Direct, and Wyre. Users retain full control of their assets, which are sent straight to their hardware wallet—avoiding exchange custody risks.

    KYC is still required for first-time purchases, but the process is fast (under 5 minutes) and compliant with global standards. The interface is now more intuitive, and Clear Signing ensures transaction details can be securely verified on the device.

    Whether you’re new to crypto or an experienced trader, Ledger Live remains a reliable and user-friendly choice for managing and acquiring digital assets securely.

    Click below to BUY NOW!

  • Ledger Nano X Guide: Complete Setup Tutorial

    Ledger Nano X Guide: Complete Setup Tutorial

    Ledger released a new hardware wallet – the Ledger Nano X. This new device protects your cryptocurrencies with military-grade protection and prevents digital theft and hackers. These are the key new features of the Ledger Nano X:

    • Large HD screen â€“ Displays address of receiver in full without scrolling
    • Mobile support â€“ (Android and iOS) support via Ledger Live Mobile
    • More storage space â€“ Install up to 100 different apps for different coins.
    • Rechargable Battery – allows the device to be powered-on without a cable.
    • Ledger Recover – A new (albeit controversial) seed phrase recovery subscription service. Learn more here.

    Click below to buy!

    buy now

    This guide will help you setup your Ledger Nano X and teach you the important features. In addition, we the most important question: Is Bluetooth Safe?

    Ledger Nano X Review: Is it worth buying?

    Ledger Live Mobile

    Cryptocurrency can be spent on the go with Ledger Nano X

    Ledger Live Mobile remains the go-to companion app for managing crypto securely on the move. Available for iOS and Android, it pairs seamlessly with Ledger Nano X, Ledger Stax, and Nano S Plus (via OTG cable for Android).

    Ledger Mobile app showing the Ethereum address with verification from Ledger Nano X

    Mobile Connectivity

    • Bluetooth Support: Nano X connects wirelessly to smartphones via Bluetooth—no cables required.
    • Battery Life: Equipped with a 100mAh battery, it lasts several hours of active use or up to 3 months in standby mode.

    Portfolio & Transactions

    • Portfolio Mode: View your crypto balances and performance even when the Nano X is not connected.
    • Secure Transactions: To send crypto, the Nano X must be present to sign transactions. Private keys never leave the device—only the signed transaction is transmitted.

    App Management

    • Ledger Manager Integration: Install and manage crypto apps directly from the mobile app, similar to the desktop version2.
    • Firmware Updates: As of OS version 2.4.1, firmware updates are now supported via Bluetooth on Ledger Live Mobile—a major upgrade from earlier limitations.Buy, Swap & Stake
    • Buy Crypto: Purchase assets using third-party partners like MoonPay, Ramp, and PayPal.
    • Swap Crypto: Exchange assets directly in-app using services like ParaSwap and Changelly.
    • Stake Assets: Stake ETH, DOT, ATOM, and more—track rewards in the “Earn” section.“

    NFT Management

    • NFT Viewer: View, send, and receive Ethereum and Polygon NFTs with full metadata support.

    Security Managment

    • Secure Element Chip: CC EAL5+ certified for hardware-level protection.
    • End-to-End Encryption: Bluetooth communication is encrypted and requires physical confirmation on the device.
    • Biometric Unlock: Optional Face ID or fingerprint unlock for added app security.

    Web3 & DeFi Access

    • WalletConnect Integration: Connect to dApps like Uniswap, Aave, and OpenSea directly from your phone.

    How to Add or Remove Apps on the Ledger Nano X

    Managing crypto apps on your Ledger Nano X is simple and secure using the Ledger Live app—available on Windows, macOS, Linux, Android, and iOS.

    How to Install Apps

    1. Open Ledger Live and navigate to My Ledger.
    2. Connect and unlock your Nano X using your PIN.
    3. Authorize Ledger Manager by confirming “Allow Ledger Manager” on your device.
    4. Browse the App Catalog and click Install next to the desired cryptocurrency app.
      • You can install multiple apps at once.
      • If your list appears limited, update your device firmware first. As of July 2025, the latest version of Ledger Live is Desktop 2.120.1 and Mobile (iOS/Andriod): 3.86

    Note that some apps (like Arbitrum or Optimism) require the Ethereum app to be installed first due to EVM dependencies.

    How to Uninstall Apps

    • In My Ledger, locate the installed apps list.
    • Click the Trash icon next to any app to uninstall it.
    • You can remove multiple apps at once—confirm on your device to proceed.

    Note that uninstalling apps does not affect your crypto assets. Your private keys remain securely stored on the device and backed up via your recovery phrase.

    How to Update Apps

    • If updates are available, a notification bar will appear in My Ledger.
    • Click Update All to refresh your apps in one go.

    App Storage Tips

    • The number of installable apps depends on:
      • Your device model (Nano X supports ~100 apps)
      • App sizes (some are larger than others)
    • Uninstall unused apps to free up space—your assets stay safe.

    Is Bluetooth Safe?

    Yes—Bluetooth is safe to use with the Ledger Nano X. Ledger has designed its Bluetooth functionality with security as a top priority, and the device’s architecture ensures that your private keys remain protected at all times. The previous model (Ledger Nano S) only had cable connectivity, which would not expose the device to nearby attackers. Bluetooth is safe to use in this case because the device is never controlled via Bluetooth – instead it is only used to send unsigned and signed transactions. This means the private key (the key to all the funds

    Security Architecture

    • Private keys never leave the Secure Element chip, even during Bluetooth communication.
    • Bluetooth Low Energy (BLE) 5.0 is used solely as a transport layer for signed or unsigned transactions.
    • The Nano X assumes the BLE connection is compromised by default—no sensitive data is ever exposed.

    End-to-End Encryption

    • All Bluetooth communication is end-to-end encrypted, protecting user privacy and preventing interception.
    • Even if BLE were compromised, attackers cannot extract private keys or force unauthorized transactions.

    Physical Confirmation Required

    • Every transaction must be physically verified and approved on the device using its buttons.
    • The display and buttons are directly wired to the Secure Element, ensuring tamper-proof interaction.

    Manual Control

    • Users can disable Bluetooth anytime via the Control Center by pressing both buttons.
    • When disabled, the Nano X functions via USB-C with Ledger Live desktop.

    The Nano X operates with the assumption that the Bluetooth connection (which is a bearer, exactly like USB) is compromised. The addition of BLE doesn’t impact the security model. Transactions must always be physically verified on device by pressing both buttons. Moreover, on the Nano X screens and buttons are directly connected to the Secure Element (single chip architecture), which is also an enhancement of the general security design. (Valium)

    Nicolas Bacca, CTO at Ledger

    Control Panel on Ledger Nano X allow Bluetooth to be turned On / Off

    Keep your Recovery Phrase Safe!

    Your 24-word recovery phrase is the master key to your crypto assets. It’s generated during device setup and stored only on paper—never digitally. If someone gains access to it, they can control your funds. If you lose it, recovery is impossible.

    Ledger Nano X Setup

    1. Choose a 4 to 8-digit PIN code and confirm.
    2. Write down your 24-word recovery phrase. The order of the words is also important.
    3. After setting up the device, with it still plugged in, visit the Ledger Live website and download the app you want to use.
    4. Follow the instructions on the site and use.

    Note: after setting it up you will be navigating the device on your computer.

    You can receive cryptocurrency even when the device is offline. It’s only when you want to send that you need to connect the device and enter your PIN and login.

    After inputting all the transaction details on your computer, as an additional security measure, you can double check the details on the device. Make sure the address and amount are correct and confirm.

    Best Practices for Storage

    • Write it down on the provided Recovery Sheet during setup.
    • Store it offline in a secure, private location—avoid cloud storage, photos, or digital backups.
    • Use fireproof and waterproof storage like metal seed plates for long-term protection.
    • Never share it with anyone, including Ledger support. Ledger will never ask for it.

    What Not to Do

    • Don’t take a photo or screenshot of your recovery phrase.
    • Don’t enter it on any website, app, or computer.
    • Don’t store it in email, cloud drives, or password managers.

    Recovery & Restoration

    • You can restore your Ledger Nano X, Nano S Plus, or Stax using your recovery phrase at any time.
    • Recovery is done entirely on the device—never on your phone or computer.
    • Ledger supports BIP39/BIP44 standard phrases, so you can restore wallets from other compatible devices too.

    Ledger Recover (Optional)

    • Ledger offers an optional subscription service called Ledger Recover, which encrypts and splits your recovery phrase into secure fragments stored by trusted custodians.
    • This service is opt-in only and not enabled by default. Learn more on Ledger’s official Recover page.

    If your recovery phrase is lost or compromised, Ledger cannot help you recover your assets. There is no backup stored by Ledger.

    Why use a Hardware Wallet?

    Here are some reasons why you could consider using a hardware wallet to store your cryptocurrencies:

    • Keeps Your Crypto Safe: Hardware wallets store your private keys offline. This protects them from hackers, viruses, and phishing attacks—even if your computer or phone is infected.
    • You’re in Control: If you use exchanges or online wallets, you are trusting someone else with your crypto. Hardware wallets let you hold your assets. No one else has access.
    • Physical Security: Transactions must be confirmed on the device, so no one can steal your crypto without having the wallet in hand.
    • Easy Recovery: If your device breaks or gets lost, you can recover everything with your secret recovery phrase. But make sure not to share or store it digitally.
    • Supports More Than Just Coins: These wallets work with Bitcoin, Ethereum, NFTs, DeFi apps, and digital IDs. They are a must-have tool for Web3.

    Is the Ledger Nano X Worth the Upgrade?

    The answer depends on what you need. If you want to manage your crypto on your phone or use Bluetooth, the Ledger Nano X is worth it.

    The Nano X has more memory than the older Nano S model, which was retired. It can hold up to 100 apps for different cryptocurrencies. This is helpful if you use more than three types of crypto. The Nano S Plus also holds up to 100 apps, but it costs less. However, the Nano X has Bluetooth and a built-in battery, which the Nano S Plus does not.

    With Bluetooth, you can connect the Nano X to your phone without using cables. The battery lasts for several hours of use or about three months in standby mode. This makes it easier to use the wallet on the go.

    The Nano X works with iPhones and Android phones through the Ledger Live Mobile app. You can view your crypto portfolio anytime, but you need the device with you to send crypto. Your private keys never leave the device, so your funds stay safe.

    The Nano X uses a secure chip to protect your information. It works with over 5,500 cryptocurrencies, NFTs, and Web3 apps. It also connects to wallets like MetaMask and Phantom.

    One thing to think about is the battery. Some users say it becomes weaker over time. Also, Ledger offers a service called Ledger Recover that helps you recover your wallet if you lose your recovery phrase. Some people are worried about privacy when using that service.

    If you want Bluetooth, mobile access, and more storage, the Nano X is a good option. But if you mostly use your desktop and want to save money, the Nano S Plus might work better for you.

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    Successfully set up your Ledger Nano X? Now it’s time to get started with trading Bitcoin and other cryptocurrencies! Check out my course created in collaboration with Jeff Kirdeikis of Uptrennd- Bitcademy: Learn, Invest & Trade Bitcoin – In Under an Hour