January saw higher spot trading volume on centralized exchanges amid the approval of spot bitcoin ETFs in the U.S. Source
Crypto Trading Hits Busiest Pace Since June 2022
Day: February 7, 2024
Are Token Airdrops Effective Marketing?
Airdrops. That magical term seems to excite crypto users and spark endless discussions about on-chain interaction. In recent years, airdrops have added significant liquidity into the crypto market and took numerous promising projects to new heights. Today, it’s common to say we’re entering into “airdrop season” as a number of new and existing protocols and projects on chains including Ethereum layer 2s, Solana and Cosmos look to build engagement by promising or hinting at an airdrop. Source
Nischal Shetty of WazirX and Avinash Shekhar from ZebPay Unveil India’s Pioneering Crypto Perpetual Futures Exchange Pi42
Seasoned cryptocurrency professionals Nischal Shetty and Avinash Shekhar have unveiled Pi42, the nation’s pioneering Crypto-INR Perpetual Futures Exchange. The launch of Pi42 marks a milestone in the Indian crypto landscape, offering a compliant platform with a focus on growth and accessibility. Despite India being one of the largest crypto markets globally, local investors have faced limited opportunities in crypto derivatives trading. Pi42 aims to bridge this gap by providing Indian investors with a comprehensive solution that encompasses a diverse range of derivatives while ensuring compliance, tax efficiency, and user convenience.…
Moving Beyond Bitcoin ETFs to a Fully Tokenized Value Chain
Granted, there is regulation to consider and technology to develop, but the collective opportunity to move beyond Bitcoin ETFs and tokenized RWAs is immense. In a future where all assets are built, managed, and distributed on-chain, investors, asset managers, and even regulators will benefit from the transparency, efficiency, and disintermediation that results. Lower costs, global distribution, and more efficient markets await on the other side. Source
The Evolution of Stablecoins into Commodities, Real Estate, and Crypto Baskets Redefines Digital Asset Stability
Another groundbreaking approach is stablecoins tied to a basket of cryptocurrencies, like DAI and wrapped bitcoin, offer stability while capturing the potential upside of the digital asset market. These diversified stablecoins mitigate single-currency risk and provide exposure to a broader spectrum of cryptocurrencies, reducing volatility and enhancing portfolio resilience. The emergence of stablecoins beyond USD pegs reflects a maturing market and growing investor demand for stability, transparency, and diversification in digital assets. These alternative stablecoins offer a compelling value proposition for investors seeking to preserve capital and navigate the dynamic…
Cardano Activity Sees New Life That Could Send ADA Price Soaring, Here Are The Targets
Cardano (ADA) has been stuck in a price rut recently, but behind the scenes, activity on the Cardano blockchain is exploding. Transaction volumes and wallet addresses are all growing, showing that interest and adoption of the network are growing rapidly. All this activity has prompted analysis of how far the crypto can spike in the near future. Cardano On-Chain Activity Points To Future Price Growth Cardano’s growth in development activity in recent months has rivaled other cryptocurrencies, putting it on the map among developers. Metrics show that there are currently…
Bitcoin Miner Hut 8 (HUT) Shares Slide as CEO Jamie Leverton Quits Weeks After Short Sellers’ Report
“The merger of equals of Hut 8 and US Bitcoin Corp was a transformational moment for both companies,” Hut 8 Chairman Bill Tai said in a statement. “Hut 8 is now at a pivotal inflection point, and we believe that Asher is uniquely qualified to accelerate our path to market leadership.” Source
Coinbase-Backed DeSo SocialFi App Focus Raises $75 Million in One Week – Blockchain News, Opinion, TV and Jobs
Los Angeles, California, February 7th, 2024, Chainwire Key Takeaways Focus, the revolutionary new decentralized SocialFi app, raised $75 million in one week Focus rivals subscription platforms like OnlyFans and Patreon, a multi-billion-dollar industry Users can reserve with DESO, BTC, ETH, and more to earn a 90% bonus in $FOCUS tokens for a limited time Focus, a new decentralized SocialFi app built on the DeSo blockchain, has made waves in the crypto industry by amassing over $75 million in token reservations within its first week of launch. This unprecedented achievement not…
Q&A With Farcaster’s Dan Romero
We now have polls on Farcaster, but you kind of have tarot card reading and playing chess. And then people got really creative and said, well, what can we do with the kind of on-chain side of things, right? And actually kind of enable people to have these frames in the feed do something on a blockchain. And so what we’ve seen people have are kind of like mint NFTs right from a frame. And we’ve even had creative use cases, like someone built a full shopping cart for buying…
Ex-Ripple Director Teases ‘Big XRP News’, Can Price Respond?
Sean McBride, the former Director of Global Talent Acquisition at Ripple, has hinted at significant upcoming news for Ripple and XRP. McBride’s announcement, made via a post on X (formerly known as Twitter), has sparked a mix of excitement and skepticism among followers and investors alike. His post stated: “Big news coming from #Ripple and #XRP in the next couple days,” setting the stage for speculation on what the news could entail and its potential impact on XRP’s market performance. However, the reaction to McBride’s announcement has been varied within…