Author: News Room
The stablecoin sector achieved a significant milestone on March 20, 2024, hitting the $150 billion mark as the dollar-anchored market continues its expansion. In the last five days, the stablecoin sphere expanded by $980 million, breaking past the latest threshold. Stablecoin Market Value Tops $150 Billion The total value of all stablecoins now stands at […] Read the full article here
A new dollar-backed stablecoin has launched on the Cardano (ADA) mainnet. The financial firm Mehen launched the USDM stablecoin over the weekend, noting that institutional users would spend a day or two onboarding the asset. The issuer says the stablecoin will “slowly be arriving on-chain” this week. Mehen says each USDM is backed 1:1 by a US dollar in a US-based bank. “USDM represents a paradigm shift in the world of stablecoins, bridging the gap between traditional fiat currencies and the decentralized realm of blockchain. Backed by verifiable reserves and leveraging the Cardano network’s robust infrastructure, USDM sets a new…
Macro guru and Real Vision CEO Raoul Pal is unveiling his crypto holdings, saying that his capital is geared toward capturing the potential rise of riskier digital assets. In an interview on the Crypto Banter YouTube channel, the former Goldman Sachs executive says that about 90% of his stash consists of crypto hedge funds, Solana (SOL), non-fungible tokens (NFTs) and layer-1 blockchain Sui (SUI). “The other 90% is Solana and hedge funds… I own a bunch of NFTs – I’ve been buying some high-end art in NFTs. But really I put most of my Ethereum into the fund, the asset…
A closely followed crypto strategist thinks that the payments network XRP is gearing up to witness a big move to the upside. Pseudonymous analyst Credible tells his 380,200 followers on the social media platform X that XRP is about to enter a phase when it outperforms Bitcoin (BTC), Ethereum (ETH) and the broader crypto market. According to the analyst, XRP appears to be flashing a bullish reversal signal against Bitcoin (XRP/BTC) and Ethereum (XRP/ETH). “Still in the position on XRP from below and just added on to it for a third time, averaging up. XRP/BTC and XRP/ETH both just printed and…
A top Galaxy Digital executive thinks Bitcoin (BTC) will eventually reach $100,000 and beyond this market cycle. In a new interview with CNBC, Galaxy Digital’s Global Head of Trading Jason Urban says $100,000 for BTC is within the realm of possibility. Based on Galaxy Digital CEO Mike Novogratz’s $100,000 prediction and Standard Chartered’s recent $150,000 forecast, Urban says he’ll split it down the middle and call for $125,000. “I certainly think that $100,000 is expected by a lot of, I’ll say, crypto natives. As you know, I’m out here at the Digital Asset Summit in London this week and just talking…
GoDaddy, a world leader in web hosting and registration, is announcing a partnership with Ethereum Name Service (ENS), a domain naming service built on top of Ethereum (ETH). According to a new press release, users of GoDaddy domains can now link their domains to ENS without any additional costs or technical knowledge. As stated by Paul Nicks, president of domains at GoDaddy, “As a long-time domain industry steward, we are always looking for innovative enhancements that benefit our customers. Partnering with ENS presents our customers with a unique opportunity to experience the fusion of domain names and blockchain technologies, bringing…
Crypto and NFT payments infrastructure company Transak has partnered with Visa to integrate Visa debit capabilities into its global off-ramp service. This move increases the options for crypto-to-fiat off-ramps, allowing users in over 145 countries to convert their crypto holdings into local fiat currencies.Using a product called Visa Direct, Transak will allow the fluid conversion of digital assets into fiat currency across the industry. This collaboration addresses a critical gap in the market: the ease of crypto-to-fiat conversion. Historically, the focus has been on facilitating the flow of fiat into crypto, leaving the reverse process, from crypto back to fiat,…
Transaction fees across various Ethereum layer-2 networks, such as Base, StarkNet, and Optimism, have seen significant reductions following the implementation of the Dencun upgrade.Yesterday, the Dencun upgrade went live after months of anticipation within the crypto community. The upgrade, described as the most “complex fork” since Ethereum transitioned into a proof-of-stake network, introduced a new transaction type called blobs for layer-2 networks.Dencun introduced Ethereum ‘blobs’, which are temporary data storage mechanisms that significantly reduce transaction fees and enhance throughput for Layer 2 networks by allowing for a more efficient and cost-effective way to post rollup data. This data is pruned…
Ethereum, the second-largest digital asset by market capitalization, is trading near the pivotal $4000 milestone for the first time since December 2021, up 15% during the past week.Amid this price rally, leading restaking protocol EigenLayer is now the second-largest DeFi protocol in terms of total value locked, according to DeFillama data.ETH’s priceEthereum is currently priced at $3954 following a 4% gain during the past day, according to CryptoSlate’s data.This upward movement in Ethereum’s value can be linked to the excitement surrounding the upcoming Dencun upgrade scheduled to go live on the mainnet by Mar. 13. Dencun brings proto-danksharding to Ethereum,…
Bitcoin’s recent dip to $60.8K mounted concerns about the sustainability of the rally. It was the biggest single-day decline in a fortnight as a result of a decline in inflows of spot Bitcoin ETFs on the same day. The downturn was widespread, with several altcoins following Bitcoin’s suit. Despite this price correction, the bullish sentiment is still prevalent and is backed by Santiment’s MVRV Opportunity & Danger Zone Model, which signals a shift in altcoins’ trajectory. The blockchain intelligence platform found that several altcoins now reside in the opportunity zone for mid-term trading. This zone activates when an asset’s 30-day,…