Author: News Room
Avail, a modular blockchain focused on unifying Web3 and optimizing data availability for scalable applications, has partnered with dWallet Network to introduce programmable native Bitcoin to rollups in the Avail ecosystem. Polygon co-founder Anurag Arjun spun off Avail from Polygon in 2023 into a separate entity. Avail was initiated within Polygon Labs in late 2020 and publicly introduced in mid-2021. It has plans to launch its mainnet later in 2024. Leveraging dWallet’s decentralized multiparty computation (MPC) infrastructure, smart contracts using rollups built on Avail DA will be able to manage native BTC while preserving user ownership programmatically. This approach marks…
The world’s largest crypto exchange Binance burned 4.17 billion Terra Luna Classic (LUNC) tokens in its 20th batch of the LUNC burn mechanism. Following the latest burn by Binance, the net LUNC burned by the crypto exchange has now surpassed over 56 billion. Moreover, the total tokens burned by the Terra Luna Classic community has reached nearly 110 billion. Read the full article here
Ethereum (ETH) is troubled as its metrics keep plummeting amid a broader market drawdown. At the time of writing, Ethereum is down by 5.90% in 24 hours to $3,338.93, a drop that has extended its decline over the past week to 8.65%. Ethereum’s uncertain growth path Commenting on the current outlook for Ethereum, top market analyst Ali Martinez shared data from crypto analytics platform IntoTheBlock (ITB) showing how Ethereum has no major support on its sliding path. Martinez noted that Ethereum losing its grip on the $3,460 support zone marks a major strain that puts the coin’s bulls in an…
In a series of ongoing court trials linked to Terraform Labs’ fraud claims tied to the 2022 implosion of its TerraUSD stablecoin, one former employee testifies how working with Terraform was rife with pitfalls. Brian Curran, former head of communications at Terraform, told a Manhattan federal jury on Monday that spearheading public relations for the company made him “angry.” Curran tried to be “transparent” to users while doing PR for Terraform, however, the company asked him to write false posts. He further said that working with Do Kwon, the beleaguered founder of Terraform, was troublesome, a report from Law360 revealed.…
Mike Novogratz, the CEO of Galaxy Digital, provided compelling insights into Bitcoin’s evolving market dynamics at the recent Bitcoin Investor Day conference in New York City. According to Novogratz, following the U.S. Securities and Exchange Commission’s (SEC) landmark approval of 11 spot Bitcoin ETFs in January, Bitcoin has been catapulted into a new realm of possibilities, gaining potential access to an $84 trillion market. This move is seen as a critical juncture in Bitcoin’s journey towards widespread institutional and retail adoption. Novogratz, a long-time investor in the crypto space, emphasized the transformative impact of these ETF approvals. He underscored the…
A recent Solana (SOL) meme coin pre-sale turned sour for investors, leading to a price crash and highlighting ongoing concerns about project security. Over the past few weeks, Solana has seen a surge in the popularity of various meme coins. While some of these projects have generated impressive returns for investors and traders, others have raised concerns within the crypto community. Meme Coins: Boon or Burden for Solana? In late March, a crypto influencer, Machi Big Brother, launched a meme coin project called Boba Oppa (BOBAOPPA). He attempted to raise funds for his project, which he affectionately refers to as…
According to the most recent data, within the last 22 days, the volume of staked ether locked across various liquid staking derivative token platforms has seen a decline of 2.45%. This downward trend was observed across 27 unique platforms, culminating in a reduction of 340,000 ETH, valued at approximately $1.18 billion. $1.18 Billion Worth of […] Read the full article here
TL;DR Render (RNDR) leads the thriving AI cryptocurrency market, highlighted by its adoption by Coinbase. Other AI coins like Bittensor (TAO), The Graph (GRT), Fetch.ai (FET), and SingularityNET (AGIX) have also shown significant growth and market contributions. Render (RNDR) Despite the ongoing correction, the Artificial Intelligence (AI) coins niche has been thriving lately, accounting for over $25 million of the total market capitalization of the cryptocurrency industry. The biggest token of that type is Render (RNDR). The asset’s price currently hovers around $9.60, a 30% decline compared to the all-time high recorded in mid-March. RNDR is the native token of…
Tether, the world’s leading stablecoin issuer, has significantly bolstered its reserves by acquiring 8,889 bitcoin (BTC). Tether’s most recent purchase brought its total Bitcoin reserves to over 75,000 BTC, with a combined value exceeding $5.3 billion. Tether’s Growing Embrace of Bitcoin The on-chain data reveals that Tether received the Bitcoin from Bitfinex’s hot wallet on March 31, 2024, at 17.21 UTC. At the time of the transaction, those Bitcoins were worth approximately $627 million. Over the past year, Tether has demonstrably increased its Bitcoin holdings. Tether first disclosed its Bitcoin holdings in the first quarter of 2023. At the time,…
Japanese regional bank Hokkoku has made waves by becoming the first in Japan to introduce a stablecoin backed by bank deposits. The development has left Japanese crypto enthusiasts wondering about the potential pros and cons. In addition, the utility of the stablecoin is being questioned about. Read the full article here