Author: News Room
The native token of a crypto project focused on real-world asset (RWA) tokenization has surged 69% in the past week amid the rollout of a new private blockchain. Polymesh (POLYX) is a public blockchain purpose-built for RWA tokenization. The project’s native token, POLYX, is trading at $0.415 at time of writing, up from $0.245 one week ago. The 192nd-ranked crypto asset by market cap is up 7% in the past 24 hours. On Monday, the project announced the launch of Polymesh Private, a confidential version of the network’s public permissioned blockchain. Polymesh notes that companies can use the new private…
Macro investor and fund manager Dan Tapiero believes the bull market cycle for Bitcoin (BTC) is still in its early stages. The CEO of investment firm 10T Holdings tells his 114,500 followers on the social media platform X that Bitcoin could soar 3x from its current value in the next year or two. “Conservative again on BTC price. A mere 3x over next 12-24 months. Bull market just in its third inning now.” Since there are nine innings in a baseball game, he suggests Bitcoin’s upward momentum will continue for a while. He also says there may be price volatility,…
The blockchain infrastructure project Espresso Systems has raised $28 million in a Series B funding round led by investment giant Andreessen Horowitz (a16z). Espresso aims to increase interoperability between Ethereum (ETH) rollups by building a marketplace where rollups can sell the right to build their blocks to bidders. Rollups are solutions that execute transactions outside of Ethereum’s blockchain but record the transactional data. Espresso notes that Polygon, Taiko, o1Labs, StarkWare, Offchain Labs and strategic investors from more than 30 ecosystem projects joined their recent Series B round. The project had already raised $32 million between a seed round in 2020…
BlackRock believes that Bitcoin (BTC) will become an integral part of the financial system over the coming decade as it increasingly melds with the best parts of the traditional financial system. The asset manager’s Head of Digital Assets, Robert Mitchnick, made the statement during Reflexivity Research’s Bitcoin Investor Day on March 22. FOX Business reporter Eleanor Terrett reported his comments via X. Mitchnick said: “Eventually we expect there will be a convergence where the best of the old system and the new technology will become fused into a new infrastructure system in finance.” Mitchnick also revealed that the company’s clients…
Members of the Solana community and the crypto ecosystem denounced the recent surge in inflammatory memecoins on March 22.Unknown parties recently took advantage of Solana’s token creation feature to introduce thousands of memecoins with racist and antisemitic terminology in their names, some tokens also contained anti-China descriptions and other broadly offensive material.Solana founder and CEO Anatoly Yakovenko spoke out against the trend on X, simply stating:“F’ these anti-Semitic racist incels.”DEX Screener respondsDEX Screener, a popular third-party service that monitors tokens on various blockchains, including Solana, said it would review its policies following the high rate of offensive memecoin launches in…
In August 2022, the US Treasury Department’s Office of Foreign Asset Control (OFAC) imposed sanctions on Tornado Cash, prohibiting its usage for US citizens, residents, and companies. But this has not deterred hackers from moving stolen funds through the controversial crypto tumbler to obfuscate tracking. In fact, PeckShield’s latest update reveals that exploiters of the HECOBridge have moved over 40,391 ETH, valued at around $145.7 million, executing 19 outgoing transactions to Tornado Cash in the past 8 days. PeckShield Flags Tornado Cash Activity The HECO cross-chain bridge was exploited in November 2023. The compromised funds, comprising Ether, USDT, USDC, and…
Bitcoin slipped 5% below $65,000 Thursday, with the U.S. dollar resurging amid the Swiss central bank’s interest rate cut. XRP, FIL and ICP defied the slump, while SOL and AVAX declined. Bitcoin completed its correction by rebounding from $60,000 Wednesday and targeting “much higher levels” in the next phase of the uptrend, Swissblock analyst said. Bitcoin (BTC) slid lower Thursday amid a stronger U.S. dollar, giving up some of the advances from Wednesday’s spectacular bounce spurred by a dovish tone from the Federal Reserve. BTC dropped some 5% to as low as $64,600 by late afternoon UTC hours from above…
TL;DR The Napoli update on Polygon introduces support for RIP-7212, a Rollup Improvement Proposal that enhances interoperability with conventional technology. Napoli also includes improvements in block space efficiency and network security. This collaboration underscores the importance of Layer 2 solutions for Ethereum’s mass adoption. Polygon’s recent Napoli update marks a significant milestone in the evolution of Layer 2 solutions on the Ethereum network. This update, which includes support for the first Rollup Improvement Proposal (RIP-7212), aims to enhance the interoperability of rollups with conventional technology. In addition to this improvement, Napoli also brings three significant updates introduced in Ethereum’s recent…
As the larger part of the cryptocurrency sector starts to return to its previous bullish trend, Ethereum (ETH) has been among the trendsetters, showing signs of more impressive gains in the future despite the increased regulatory compliance scrutiny from the United States Securities and Exchange Commission (SEC). Indeed, Ethereum holding the area at above $3,500 could help it skyrocket to $5,000 and more “soon enough,” despite the “classic ‘vaguely worded [fear, doubt, uncertainty, or] FUD’ while at support, according to an X post by pseudonymous crypto analyst CryptoJelleNL published on March 21. Ethereum price prediction amid scrutiny As it happens,…
In a move that has stirred anticipation within the cryptocurrency community, Bithumb Korea, the operator of one of South Korea’s leading crypto exchanges, Bithumb, has revealed plans to spin off its business. The decision, according to a report by a Korean media outlet, signifies a strategic maneuver aimed at enhancing the feasibility of an impending initial public offering (IPO). Read the full article here