Month: January 2023

Flare Launches Layer 1 Oracle Network

Place/Date: Dubai, UAE – January 10th, 2023 at 10:31 am UTC · 3 min read Contact: Nadav Dakner, Source: Flare Flare, the blockchain for building applications that use data from other chains and the internet, has successfully completed its long-awaited token airdrop at 11:59 pm UTC on January 9th. The airdrop saw 4.279B Flare (FLR) tokens distributed to millions of recipients, including users on Binance, OKX, Kraken, Bithumb, UpBit, Kucoin, BitBank, & more, in one of the largest scale distributions in crypto history. The airdrop is a significant milestone for…

Bitcoin Inches Upwards, Pulls Crypto Stocks Higher

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The price of Bitcoin climbed higher on Monday raising hopes for a rally in 2023, and taking several crypto stocks along with it. Crypto-related stocks jumped higher on Monday due mainly to the modest Bitcoin (BTC) rally that took the leading token above $17,200. BTC has wallowed in the mid-$16K range since early December and is now up 5% in 2023. Consequently, the shares of companies like Coinbase (NASDAQ: COIN) and Marathon Digital (NASDAQ: MARA) also spiked on the Bitcoin development. For instance, COIN rose by around 15% yesterday despite sustaining numerous…

Poor Bitcoin Market Liquidity Keeps Crypto Whales at Bay

“Aggregated 2% BTC market depth has dropped by almost half to around 8,000 BTC from 14,000 BTC at the end of October,” analysts at Bitfinex, one of the top 10 centralized cryptocurrency exchanges by volumes, wrote in the Jan. 9 issue of the market report. “In other words, a large order of the same USD value or size placed today will have more than twice the impact on price in contrast to two months ago.” Source

Turkish automaker Togg onboards Metaco for crypto custody and governance

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Turkish automotive company Togg announced a partnership with Metaco, a digital asset custody orchestration technology provider, to secure its open mobility ecosystem built on Avalanche.  Togg’s Mobility-as-a-Service platform (MaaS), a.k.a, Mobility Ecosystem, aims to deliver smart contract-powered use cases — including tokenization of mobility services, assessment of CO2 footprint and nonfungible token (NFT) ownership — for users in Türkiye and Europe. The partnership with Metaco will see the use of its digital asset custody and orchestration platform, Harmonize, to safeguard the custody and governance of Togg’s digital assets. Sharing insights…

Terra accidental airdrop leads to smear campaign, community member claims

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Terraform Labs (TFL), the firm behind the defunct algorithmic stablecoin TerraUST (USTC), and its co-founder Do Kwon is back in the limelight again for allegedly running a smear campaign and issuing threats against one of their own community members. It all started in the month of May with the genesis airdrop that was planned after the original ecosystem imploded in the wake of its stablecoin depeg. TFL, in a Twitter thread, claimed that Jimmy Le, a community member entrusted with Terra community funds, has refused to return funds gained during…

What is ShibaSwap and how does it work?

ShibaSwap is a DeFi platform featuring decentralized exchange (DEX) and passive income-generating services like staking, liquidity pools, and yield farming in its ecosystem. Launched in July 2021, ShibaSwap is a fork of SushiSwap, a popular DEX tweaked from Uniswap (UNI), the world’s leading DEX by volume. But unlike its rivals, ShibaSwap’s core purpose has been mostly about boosting the utility of Shiba Inu tokens. What are Shiba Inu tokens? ShibaSwap uses three main tokens, namel Shiba Inu (SHIB), Doge Killer (LEASH), and Bone (BONE). Let’s discuss them in detail as…

How are Dexes like Snowfall Protocol and Uniswap Affected by Kraken Sliding Downwards and FTX Collapsing?

Place/Date: – January 10th, 2023 at 9:54 am UTC · 3 min read Source: Snowfall Protocol Following the industry-defining collapse of FTX  and  instability at another cryptocurrency exchange, Kraken, cryptocurrency users are looking for alternatives. These unimaginable events have created a new opportunity for DEXs like Snowfall Protocol (SNW) and Uniswap. What is unique? Opportunity, and are these DEXs competent enough to take control? Let’s find out. The Solution Is Still Decentralized Finance After the fall of FTX, there was a school of thought that unregulated and decentralized finance will…

Tether Comes Under Threat But Snowfall Protocol Stands Strong While EU Approves Digital Euro!

The digital euro has been proposed in theory for many years. Since October 2021, the European Central Bank (ECB) and the  national central banks of the euro area have been investigating the Euro Digital project. Finally, while the investigation continues in 2023, the ECB plans to launch the Digital Euro in autumn 2023. The Governing Council of the project  also recently approved the design and distribution strategy of the Digital Euro. As central banks like the ECB jump on the crypto  bandwagon, that raises a big question mark for stablecoins…

Huobi Korea to Break Off from Parent Company amid Insolvency Rumors

The Korean-based entity will take up a new name, and henceforth, operate independently from Huobi Global. Crypto exchange Huobi Korea is reportedly gearing up to part ways with its parent company Huobi Global. According to News1, Huobi Korea will also seek to change its name as part of the separation process. Huobi Korea to Distance Self From Huobi Global’s Alleged Troubles For what it’s worth, Huobi Korea appears to be making such quick plans in the wake of uncertainties about Huobi Global that arose in the end of 2022. In…