Day: October 28, 2023

Beyond the hype: Web3 is in dire need of a rebrand

Disclosure: The views and opinions expressed here belong solely to the author and do not represent the views and opinions of crypto.news’ editorial. Let’s be honest: whenever people discuss matters related to the blockchain or web3, their minds immediately gravitate toward cryptocurrencies. However, it is the complex digital infrastructure pervading these assets that is actually transforming how we do things in everyday life. Take food safety, for instance. When we go to a store and pick up a pack of organic strawberries, we’re often left wondering if they’re genuinely organic.…

NvirWorld partners with EMERGE Group to advance blockchain gaming

On Oct 24, NvirWorld and EMERGE Group signed a Memorandum of Understanding (“MoU”), to collaborate on blockchain gaming development. This partnership aims to harness various marketing opportunities that will elevate both entities’ brand recognition and cultivate industry best practices. The MoU sets the stage for a long-term alliance between NvirWorld and EMERGE Group, focusing on their joint web3 gaming and marketing endeavors. Notable components of this partnership encompass cooperative marketing campaigns, the organization of conferences and offline events, and engagement with affiliate marketing partners and Key Opinion Leaders (“KOL”) in…

Aptos Hits Record TVL High

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Since the second week of October, there was a noticeable surge in demand for Aptos’ native cryptocurrency APT. This increased interest led to a robust phase of Total Value Locked (TVL) growth. Ultimately, this surge in demand for APT resulted in Aptos achieving its highest-ever TVL value of $74 million during the trading session on Thursday, October 26th. This surge in TVL is a crucial metric for decentralized finance (DeFi) platforms, showcasing the total value of assets, tokens, or cryptocurrencies locked within the platform’s smart contracts. Aptos TVL. Source: DefiLlama…

VanEck predicts a 10,600% Solana price rally by 2030

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Layer-1 blockchain and Ethereum competitor Solana has seen its native SOL token surge above $32 this week, as asset management company VanEck anticipates further price gains and shares its price forecast. In a report, VanEck outlined diverse valuation scenarios for Solana’s (SOL) price to range from a conservative $9.81 to an ambitious $3,211.28 by 2030 (in comparison, Ethereum’s target price is $11,800). This would mark a 10,600% price surge for Solana in the coming years. The report also delves into a potential scenario where Solana becomes the first blockchain to…

Ukraine’s ministry hopes blockchain can dismantle corruption

As narratives about corruption in Ukraine evolve, the Ministry of Digital Transformation hopes blockchain could solve that problem. While Ukraine still ranked the second most corrupt country in Europe, after Russia, it is now exploring new ways to battle corruption for fear of losing support from the West. The head of the virtual assets expert group at the Ministry of Digital Transformation of Ukraine, Yulia Parkhomenko, spoke at the panel discussion held by the Center for Strategic & International Studies. She said the ministry sees new possibilities in blockchain technology…

dYdX Initiates Token Migration Following Layer-1 Blockchain Inception

Antonio Juliano, the founder of dYdX, announced on Twitter on 28 October 2023, regarding impending substantial transfers of $DYDX tokens in the following days. This alert is in alignment with dYdX Trading Inc. and other locked token holders’ plans to migrate tokens to the dYdX Chain, which will be recorded as transfers on both Ethereum and the dYdX Chain. It’s pertinent to note that these tokens will remain locked and are not slated for sale. Following Juliano’s announcement, the dYdX Foundation provided further details, anticipating large internal movements of the…

Ripple CLO and XRP community back SEC commissioner’s LBRY lawsuit dissent

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Stuart Alderoty, the Chief Legal Officer (CLO) of Ripple Labs, and the XRP community have expressed their support on the X app (formerly Twitter) for Securities Exchange Commission(SEC) Commissioner Hester Peirce’s stance against the perceived “injustice” in the LBRY lawsuit. Alderoty showed gratitude toward Commissioner Peirce and suggested that when ongoing injustices occur in non-fraud cases, especially when consumers are still awaiting resolution for actual fraud cases, it might be necessary to disregard standard protocols and raise concerns more vocally and promptly, potentially even by submitting an amicus brief to…

A P2E and M2E game with AR 

Crypto exemplifies innovation. From Bitcoin to meme coins to games that reward players with tokens, blockchain can offer endless possibilities.  SpaceCatch is a play-to-earn (P2E) and move-to-earn (M2E) augmented reality (AR) game created by a team of blockchain experts. With its graphics, an engaging storyline, and a reward system, SpaceCatch continues to garner attention. In the game, players must save Earth from invading aliens, learn about their enemies’ strengths and weaknesses, and progress through the story to bring peace to the solar system. Blending P2E and M2E models SpaceCatch developers are…

Polkadot developers consider deflationary mechanisms

The Polkadot (DOT) network is exploring ways to implement deflationary mechanisms to counterbalance inflation and accrue value for DOT token holders. According to a new Request for Comments (RFC) proposal titled “Burn Coretime Revenue,” Polkadot aims to burn revenues generated from sales of unused Coretime on the network. Coretime refers to the basic unit of computation on Polkadot for processing transactions. The rationale is that burning Coretime revenues would introduce a deflationary force to counter the inflationary nature of DOT as a utility token. This could help balance overall token…

Injective Rules Top 50 Crypto Ranking With 60% Hike

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The cryptocurrency known as Injective (INJ) has exhibited a remarkable increase in price, exceeding 900% since the commencement of the year, even in the face of a general downward trend in the digital currency market. The price of INJ has remained unaffected by the extensive consolidation observed in the cryptocurrency market since Thursday. On Friday, it had a 10% increase, reaching a trading value of $13.15. The current market valuation of the coin stands at over $1 billion. This places the cryptocurrency at the 44th position in terms of rankings based…