Day: November 9, 2023

15 crypto leaders’ tips for devs moving from Web2 to Web3

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Professionals navigating the tech industry have seen more than their share of ups and downs recently. The employment environment has swung from talent shortages, with companies of all sizes scrambling to land and keep tech talent, to rounds of layoffs at industry giants like Amazon, Google and Microsoft. Forward-looking developers may well decide it’s time to stop focusing on Web2 companies and products and start learning the ins and outs of the burgeoning Web3 world. While crypto companies are eager to welcome the next generation of Web3 devs, the process…

Solana breaks $20b market cap as ETF buzz fuels Bitcoin over $37k

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The coin was one of the top gainers on Nov. 9 amid a broad market upturn that propelled Bitcoin (BTC) to an 18-month high as crypto’s leading token headed toward $38,000. Bitcoin’s leap above $37,000 for the first time since May 2022 coincided with Solana’s market cap breaking above the $20 billion mark as inflows poured into cryptocurrencies across the board.  The last time SOL boasted a market cap north of $20 billion was in summer of 2022, during Terra’s collapse and caused subsequent bankruptcies among some of the industry’s…

CoinGecko reports Arbitrum is largest L2 solution

In a Nov. 9 post on X, CoinGecko reports Arbitrum as being the largest Layer 2 solution, with a total of $1.79 billion in total value locked (TVL) in October, or 41.2% of the top 10 L2 solutions market share. Although this is still down from its yearly peak of $2.6 billion in May 2023.  Polygon takes second  After Arbitrum, Polygon takes the second spot, with a total of $0.78 billion in TVL over the course of October, with its yearly peak of $1.18 billion being reached in February 2023.…

Proof of Stake Alliance updates recommendations for staking providers

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The Proof of Stake Alliance (POSA), a nonprofit organization that represents firms in the crypto staking industry, published an updated version of its “staking principles” on Nov. 9. Previous version of the POSA staking principles. Source: POSA POSA represents 15 different firms in the staking industry, including Alluvial, Ava Labs, Blockdaemon, Coinbase, Credibly Neutral, Figment, Infstones, Kiln, Lido Protocol, Luganodes, Methodic, Obol, Polychain, Paradigm, and Staking Rewards. The staking principles were first published in 2020. According to the blog post that announced them, they are meant to be “a set…

Polygon (MATIC) Jumps Another 6% As Whales Show High Activity

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Polygon has continued its recent bullish momentum in the past day, jumping a further 6%, as on-chain data shows the whales are highly active currently. Polygon Is Now Up More Than 21% In The Past Week The past month has been a great time for Polygon investors as the cryptocurrency has observed a substantial uplift. Earlier in this period, the growth had been slower, but recently the asset has really stepped up. Here is a chart that shows how MATIC’s rally has looked over the last 30 days: Looks like…

Proof of Stake Alliance (POSA) Members Including Lido, Coinbase Release Updated ‘Staking Principles’

“Amid rapid technological advancement, self-regulation from leaders of the proof of stake ecosystem is essential,” Evan Weiss, founder of POSA, said in the press release. “The updated POSA principles underscore the ecosystem’s commitment to clarity and responsibility, especially in a time of increased scrutiny and misconceptions. Together, we aim to build trust, inform regulations, and champion the boundless potential of the technology.” Source

Bitcoin Climbs to Almost $37K

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Bitcoin prices neared $37,000 in Asian trading hours, creating a “short squeeze” that drove prices higher. Just under $50 million of bitcoin shorts (bets against the price rising) were liquidated in a four-hour period, extending the BTC rally. Short squeezes occur when the price of an asset jumps higher than expected and short sellers are forced to cover their positions, driving the price higher still. Exchanges with a large Asian presence such as BitMEX, OKX and Binance accounted for large chunks of the exited positions. Bitcoin’s bullish momentum followed reports…