OKEx Rolls Out Bitcoin Lightning Support for Scalable Payments

Crypto exchange giant OKEx is the latest to integrate Bitcoin (BTC) scaling solution — Lightning Network (LN) — on its platform. The move comes following a significant resurgence in LN interest especially as BTC is experiencing massive adoption across the globe. OKEx Announces Lightning Network Support OKEx announced the news of the LN integration via a press release issued on Tuesday (Feb. 2, 2021). According to the press statement, the actual Lightning Network deployment will happen before the end of the Summer. For OKEx, adopting LN will boost user experience…

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Square’s Cash App briefly halts buying AMC and Nokia stock

Cash App, the Bitcoin-friendly mobile payments app from U.S. financial services firm Square, restricted buys of some of the stocks connected to the Wall Street shorts for more than four hours today. According to an announcement from Cash App, its clearing broker, Axos, halted the app’s ability to complete purchases of stocks for GameStop, AMC Entertainment, Nokia and Koss Corporation — at least four of the stocks pushed by retail investors on the r/Wallstreetbets subreddit in their fight against hedge funds’ shorts. However, the app later tweeted that the broker…

Publicly-Listed Air Purifier Manufacturer Adds Dogecoin as a Form of Payment Amid Token’s Popularity – News Bitcoin News

As the so-called ‘meme coin’ is actively making the headlines within the crypto sphere, a publicly-traded company is joining the dogecoin frenzy. Kronos Advanced Technology announced they’ll start accepting dogecoin as one of its payment methods. Kronos Also Accepts Other Cryptocurrencies Such as Bitcoin and Ether According to the announcement, the Los Angeles-based firm is adding dogecoin (DOGE) to its accepted payment form. In fact, customers will be able to purchase air purifiers, and personal protective equipment (PPE) supplies via the meme coin. Adopting dogecoin as a payment method was…

Interoperability will determine CBDC winners and losers

China has opened testing for its digital yuan. The excitement surrounding this project has electrified several major Chinese cities, as well as onlookers throughout the world. Most recently, Shenzhen launched its “iShenzhen” lottery, wherein the city government will distribute 20 million digital yuan among 100,000 central bank digital currency, or CBDC, wallet holders. This comes on the back of a similar lottery held in the city of Suzhou, one of China’s major “special economic zones.” Suzhou has already engaged with several blockchain projects in an effort to deepen the municipality’s…

Following Balancer V2 protocol announcement, yield farming still in development

Automated market maker Balancer announced today a widely-anticipated second version of its decentralized exchange protocol, featuring a host of upgrades centered on “security, flexibility, capital efficiency and gas efficiency”  — but yield farmers are left wondering about the all-important liquidity mining details, which are still in development. “The main architectural change between Balancer V1 and Balancer V2 is the transition to a single vault that holds and manages all the assets added by all Balancer pools,” wrote Balancer co-founder and CEO Fernando Martinelli in a blog post. This architecture will…

Led by Uniswap, decentralized exchange volumes soared above $50B in January

Decentralized finance (DeFi) has emerged as one of the driving forces of crypto sector growth, and it is also establishing itself as an integral component driving widespread adoption of cryptocurrencies.  A recent report from Delphi Digital points out that there has been a 440% increase in “the circulating market cap of leading DEX protocols over the past 30 days,” which has also led to “the trading volume they facilitate to rise along with them.” Circulating market cap of DEX protocols. Source: Delphi Digital DEX volume in January 2020 set a…

Data Shows Dogecoin Pump Was Driven By Robinhood Buyers

Last week, Dogecoin exploded with an 800% intraday move. On-chain data looking closely at daily active addresses, however, suggests that the pump and dump was almost entirely driven by Robinhood buyers. Here’s what this means for both sides of the coin. Dogecoin Reignites Retail Interest in Crypto After 800% Rally Dogecoin’s recent rally lived up to its “much wow” catchphrase, climbing 800% from under a penny to more than 6 cents per token. Dogecoin became the target of a group of organized buyers after shares of GameStop and other stocks…

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Bullish Sign for Crypto? USDC and Dai Balances on Exchanges Hit Record Highs

Balances of dai (DAI) and USD coin (USDC) on exchanges reached new all-time highs in the past week, according to data from Glassnode. The increase may be a bullish indicator for the crypto market as a whole if it reflects buyers’ plans to use the two stablecoins to buy more crypto assets. The balance of dollar-pegged USDC on exchanges reached over $915 million Friday, while the amount of decentralized stablecoin dai on exchanges went above $81 million on Sunday, according to Glassnode. USDC on exchanges “represents almost $1 billion worth…