Day: December 20, 2023

Elastos Floats Bitcoin Layer 2 Offering to Maximize BTC Staking Demand

Elastos aims to use BeL2 to allow users to stake their Bitcoin holdings directly on the service. Blockchain network Elastos may have devised a strategy to take advantage of the current high demand for Bitcoin (BTC) staking on its platform. This follows after it launched BeL2, a Bitcoin layer-2 network, in a supposed effort to retain the billions of dollars in BTC volumes that currently flow from the staking tools it offers. According to Elastos developers, BeL2 is an upgrade to the base Bitcoin blockchain. And that is especially true…

Bitcoin to Hit $160K in 2024 after Halving, Spot ETF Approval, Fed Interest Rate Cuts: CryptoQuant

CryptoQuant says factors like the halving, ETF, approval, and rate cuts, could push Bitcoin to $160K next year. Analysts are bullish on the potential of Bitcoin (BTC) for next year, indicating several factors that could pump the price to $160,000. According to a blockchain analytics firm CryptoQuant report, Bitcoin may already be on its way to more than double its current all-time high (ATH). Multi-Factorial Push for Bitcoin, According to CryptoQuant CryptoQuant highlighted several indicators, including the upcoming Bitcoin halving in April, increased network activity as demand rises, and recorded…

MATIC Enters Correction Phase, Bleeds 8% in The Past Week 

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After the market entered a shortened bleeding phase, it has since rebounded to a stable foothold in preparation for a possibly bigger rally by year’s end. However, some altcoins continued to trend downward with MATIC being one of them. According to Coingecko, the token is down almost 10% in the weekly timeframe. Although the bears have a slight chokehold on MATIC’s market, there is some on-chain news that keeps the token afloat.  Update On Polygon’s Chain Development Kit (CDK)  Polygon recently posted on their blog about the newest addition to…

TRES Raises $11M to Expand Crypto Accounting, Tax Platform to New Blockchains

As the crypto industry sees more institutional adoption, there will be a greater need for accounting and taxation reporting tools similar to the ones companies can access in the traditional financial world. TRES is looking to provide such firms with a “comprehensive way to get the full & accurate picture across all of their Web3 financial activity,” co-founder and CEO Tal Zackon said in the statement. Source

ZKFair Releases First Community-Owned ZK L2 Along with 100% Airdrop

The ZKFair initiative emerges as a community-driven response to injustices and challenges in the Zero-Knowledge (ZK) landscape. It introduces transformative features and a vision for a fairer, more inclusive ZK Layer 2 network. In response to perceived injustices, inflated valuations, and domination by venture capitalists within the Zero-Knowledge (ZK) landscape, a transformative movement has emerged. Introducing the ZKFair initiative, this community-driven effort seeks to rectify the imbalances and usher in a fairer, more inclusive ZK ecosystem. ZKFair launched its testnet earlier this month on December 6th. The anticipated Mainnet release…

Polkastarter Announces Ambitious Plans for 2024 amid POLS Price Surge

Polkastarter outlined its mission for 2024, which is to level the playing field for a fairer financial system.  Polkastarter (POLS), a popular decentralized fundraising platform, has stated its ambitious plans for 2024 and highlighted that it would be its best year yet. With an optimistic outlook, Polkastarter aims to revolutionize early-stage fundraising and make Web 3.0 innovation accessible to everyone. The vision for the upcoming year includes a slew of exciting updates and features that will enhance the user experience and reinforce Polkastarter’s commitment to fairness and community engagement. Polkastarter’s…

Bitcoin Spot ETF Is Biggest Development on Wall Street in Last 30 Years, Michael Saylor Says

By removing barriers that have discouraged participation, Saylor predicts that Bitcoin spot ETFs will lead to a surge in demand as previously untapped capital flows into the limited cryptocurrency market. According to MicroStrategy Chairman Michael Saylor, the upcoming Wall Street launch of Bitcoin (BTC) spot exchange-traded funds (ETFs) is a significant event. Saylor recently stated on Bloomberg that he believes these new funds could be the most significant development in the investment world in the last thirty years. Similarly to the introduction of S&P 500 index funds in the early…

Solana Can Outperform XRP to Take Top 5 by Market Cap

The sixth largest cryptocurrency Solana (SOL) has all chances to enter the Top 5. Solana (SOL) is threatening to replace XRP among the world’s top five leading cryptocurrencies by market capitalization, driven by an increased surge of activities within the Solana ecosystem.  According to CoinMarketCap data, currently ranked as the sixth-largest token in the industry, SOL has the potential to surpass XRP’s market cap.  At press time,  SOL is trading around $76.91, with a market capitalization of $32,898,753,885, closely following XRP at $33,009,755,118. SOL Could Reach New Highs of $80…