Month: August 2023

S&P 500 Registers 4 Consecutive Days of Winning Streaks Ahead of High Impact News on Employment Change

The S&P 500 gained about 3.17 percent in the past five days to trade at around 4,514.87 as of Wednesday’s close. The S&P 500 (SPX)  edged higher on Wednesday, closing above crucial support levels that could see the stock index revisit its ATH soon. The Standard and Poor’s 500 gained about 0.38 percent on Wednesday to close the day trading at around 4,514. Other major stock indexes led by the Dow Jones Industrial Average (DJIA) and the US 100 Index (NDQ) gained about 0.11 percent and 0.56 percent respectively. The…

Only Exchange with Monthly PoR Since FTX’s Fall

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After the high-profile collapse of the cryptocurrency exchange FTX in November 2022, the industry began looking for solutions to assure investors that centralized trading platforms are safe. This led to the idea of creating Proof of Reserves (PoR) to show the current state of a given exchange’s capital reserves. OKX has just published its tenth consecutive PoR report, showing $10.4 billion in reserves in Bitcoin (BTC), Ethereum (ETH), and Tether (USDT). Discover StealthEX.io – the future of cryptocurrency. Swap instantly across 1000+ coins, no sign-up, secure, and private. Dive into…

This Metric Indicates Shibarium Is Growing Rapidly Following Its Public Launch

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Shibarium has only been live for a few days but is already showing early signs of success. The Ethereum layer-2 scaling solution, which hopes to provide lower gas fees and faster transaction times for the Shiba Inu community, has seen some impressive growth numbers in terms of Total Value Locked (TVL).  TVL Crosses $1.4 Million Since Shibarium launched its mainnet, the total value deposited in the network has skyrocketed. The TVL recently crossed $1.4 million, indicating strong interest in the new chain.  Data from DeFi TVL aggregator DeFiLlama shows that…

Google’s Pixel 8 Event to Happen on October 4

Along with Pixel 8, Google is likely to introduce a range of new hardware, including the company’s latest wearable, the Pixel Watch 2. The tech industry is bracing for the upcoming hardware season where Apple, Google, and others will be flashing their new hardware gadgets in the market. A day after Apple officially named the date for its iPhone 15 unveiling, Google announced the date for its next Pixel release. The forthcoming iteration of the company’s exclusive smartphone will debut on October 4 in New York City. During this event,…

Lufthansa airline launches NFT loyalty program on Polygon

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Lufthansa, one of the largest airline groups in Europe, has launched its nonfungible token (NFT) loyalty program on the Polygon Network. The program will allow passengers to turn their trips into NFTs that can unlock rewards like miles and business lounge vouchers.  On Aug. 31, Lufthansa announced the Uptrip mobile application, a project by Lufthansa Innovation Hub, the airline group’s digital innovation unit and Miles & More, the airlines’ frequent flyer program. Lufthansa’s @Uptrip_app loyalty program is building #onPolygon to turn flights into rewardsCollect NFT trading cards for every flight…

Breaking victim ‘trust’ in scammer is key to beat crypto scams, exchanges say

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Cryptocurrency exchanges in Australia have been increasingly communicating with their users as part of preventative measures against scams. According to local crypto firms, such communication is the key to preventing scams as it is able to “break trust” between victims and scammers. Executives at major Australian crypto firms such as Cointree, CoinSpot and Swyftx met at a panel of the fintech conference Intersekt 2023 in Melbourne on Aug. 31 to discuss the issue of scams and fraud in crypto. At the panel, the executives mentioned a variety of measures taken by…

Swift, Chainlink Tokenization Experiment Successfully Transfers Value Across Multiple Blockchains

“For tokenization to reach its potential, institutions will need to be able to seamlessly connect with the whole financial ecosystem. Our experiments have demonstrated clearly that existing secure and trusted Swift infrastructure can provide that central point of connectivity, removing a huge hurdle in the development of tokenization and unlocking its potential,” Tom Zschach, chief innovation officer at Swift said in a press statement. Source

Polkadot Price Target  – Will DOT Hit The $5.5 Mark?

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Polkadot (DOT), the innovative cryptocurrency known for its interoperability-focused blockchain platform, displayed a surge in buying pressure, indicating a potential short-term bullish trend. Despite this optimism, cautious conditions still prevail for prospective buyers in the volatile crypto landscape.  While DOT faced a 2.1% slump in the past 24 hours and a marginal 0.2% decline over the past week, its overall outlook remains influenced by both market dynamics and broader technological advancements. Undoubtedly, Polkadot’s performance in the crypto market has been buoyed by widespread innovation and increased adoption. Currently priced at…

X, the Former Twitter, Has Licenses in Multiple U.S. States to Process Payments Including Crypto

Musk has said that he plans for X to expand beyond social media posts, becoming an ‘everything app,’ and the money transmitter licenses obtained since June from Arizona, Maryland, Georgia, Michigan, Missouri and New Hampshire indicate the tech billionaire may have plans to support payment processing nationwide similar to Venmo or PayPal, a company he co-founded. The Rhode Island license, while essential for permitting payments, is also a requirement for offering crypto services. Source