Author: News Room
On-chain data confirms that the Shiba Inu NFT project Shiboshis has continued to burn SHIB tokens even amid diverted focus from its burn functionalities. The Shiba Inu community has continued to focus its attention on the burning campaign, as several proponents champion the narrative of increased burns. This has resulted in the exploration of diverse avenues for the incineration exercise, including Shibarium. Sustained Focus on Shibarium Most community members believe Shibarium is the most viable avenue to implement more burns, especially given the number of tokens the layer-2 network has incinerated since the fourth quarter of 2023. As of December…
One of the biggest rollup networks on Ethereum is finally gearing up its systems for prime time. Optimism, a “layer-2” blockchain, bundles up user transactions and settles them on Ethereum for cheap. It has played a lead role in expanding accessibility to the second-largest blockchain ecosystem by market capitalization – and serves as the template for the publicly traded crypto exchange Coinbase’s own layer-2 network, Base. But there’s a catch to using Optimism today: Fault proofs, a component of the setup considered crucial for security, don’t even exist. That’s soon set to change. On Tuesday, OP Labs, the main development…
The IOTA EVM has officially soft-launched ahead of the anticipated full launch by the end of the month, with the IOTA Foundation closely monitoring the progress. The EVM will be a game-changer, allowing the deployment of smart contracts, feeless token implementation, and high scalability at over 700 transactions per second. The IOTA Foundation has announced the soft launch of the IOTA EVM, ushering in a new era of opportunities, connectivity and interoperability. Susanne Krone, the Head of Ecosystem at the Foundation, revealed the launch on Monday, stating: This strategic move marks the beginning of a carefully phased roll-out, during which…
Ethereum price extended its decline below $3,500. ETH is showing a few bearish signs and there could be a drop toward the $3,200 support zone. Ethereum started a downside correction below the $3,550 zone. The price is trading below $3,550 and the 100-hourly Simple Moving Average. There is a major bearish trend line forming with resistance at $3,520 on the hourly chart of ETH/USD (data feed via Kraken). The pair could resume its decline if it stays below the $3,520 and $3,550 resistance levels. Ethereum Price Breaks Support Ethereum price started a downside correction below the $3,720 and $3,650 levels,…
Galaxy Digital will soon introduce crypto exchange-traded products (ETPs). The company teamed up with DWS a year ago to develop products for European investors. LONDON – Galaxy Digital (GLXY), the digital asset financial services firm headed by Michael Novogratz, will introduce crypto exchange-traded products (ETPs) in Europe “in a matter of weeks,” the CEO of its European operations said. Galaxy Digital teamed up with asset manager DWS last April to develop ETPs designed to give Europeans access to digital-asset investment through traditional brokerage accounts. “We partnered with DWS and will, in a matter of weeks, be launching new ETPs in…
Amid the Shiba Inu collapse, market analyst Xanrox has identified an entry price aligning with the Fibonacci 0.618 level, as he anticipates an imminent 300% surge. Shiba Inu is one of the victims of the latest market downtrend that has triggered retests of previous support levels. SHIB has collapsed by a massive 23% over the past seven days, relinquishing multiple psychological levels to the bears. Despite this downward spiral, analyst Xanrox remains bullish on Shiba Inu’s potential, expecting the crypto asset to register a massive price rally in the near future. Xanrox first published his analysis on March 17, following…
The metaverse needs to become a “rich, fulfilling and beautiful” place to be, said Serontonin CEO Amanda Cassett—and luxury brands are well-placed to make that happen. Speaking on a panel discussion at Decrypt and Rug Radio’s R HAUS event in Paris, Cassett said that the “parents” of the Web3 industry were technology and finance. “What got us here won’t get us there,” she said, referring to Web3’s predecessors, “and luxury and fashion has been making our industry beautiful.” The reason that Meta’s metaverse has yet to gain traction, she said, is that, “It doesn’t look good. It’s not sensory rich,…
Sam Bankman-Fried’s defense team pushed back against what it called the “disturbing” sentencing memorandum filed by the Department of Justice last week in a new letter, saying the DOJ was making the FTX founder out to be someone he was not. “With marked hostility, the memorandum distorts reality to support its precious ‘loss’ narrative and casts Sam as a depraved super-villain; it attributes to him dark and megalomaniacal motives that fly in the face of the record; it makes apocalyptic prophecies of recidivism; and it adopts a medieval view of punishment to reach what amounts to a death-in-prison sentencing recommendation,”…
Upland, a crypto game built around real-world locations, announced Friday that it has launched the first wave of its “Share and Build” airdrop series. It’s aimed at rewarding community members and newcomers alike for engaging with the Upland platform before its Ethereum token goes live. The first chapter will let users earn Sparklet tokens—Upland’s existing in-game utility token used to construct buildings and create content—through social media activities and in-app missions over a three-week period. Users can connect their Twitter (aka X) accounts and earn points by engaging with Upland and Sparklet content on the social media platform. Those points…
Bitcoin experienced a dramatic price swing on the popular cryptocurrency exchange BitMEX yesterday, raising concerns about unusual trading activity. The price of Bitcoin plummeted to as low as $8,900 against Tether’s USDT stablecoin on BitMEX, a stark contrast to the price exceeding $66,000 on other major exchanges at the time. The price of the flagship cryptocurrency rebounded quickly to surpass $64,000 in a matter of hours, as Bloomberg reported. According to a BitMEX spokesperson, the incident was a result of “aggressive selling behavior” from a limited number of accounts. The exchange noted that the incident did not impact its derivatives…