Day: May 7, 2024

Ethena’s USDe To Be Integrated Into Third Largest Global Crypto Exchange Bybit

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A new Ethereum (ETH)-based USD-pegged stablecoin is getting a boost from one of the world’s largest crypto exchanges. Ethena Labs has announced that USDe, the stablecoin of the Ethena (ENA) ecosystem, is being integrated by Bybit, the third largest crypto exchange by trading volume. “We are excited to share one of the most important developments for USDe adoption to date. As of this week, USDe will be integrated throughout Bybit, beyond the current USDe/USDT spot pair. Those new integrations include: USDe as a collateral asset to trade perpetual futures, allowing Bybit users to potentially earn a yield paid by Bybit on…

AI Tokens ‘Preparing For Round 2’: Industry Shows 8% Growth

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Excluding Bitcoin, memecoins were the biggest narrative of this cycle. However, Artificial Intelligence (AI) tokens also performed remarkably during the first quarter of 2024. The crypto market recovered over the weekend from the May 1st retrace, with AI tokens showing significant gains. As a result, many industry experts think that the sector is poised for a ‘Round 2’ this cycle. AI Sector Recovers By 8% Crypto analysts highlighted AI tokens alongside memecoins as the hottest topic of 2024, responsible for most of the massive gains during this cycle. According to…

Binance releases 18th proof of reserve

Binance, crypto’s largest exchange, disclosed reserve increments across the top five digital assets by market cap despite a slump in prices over the past month. The Binance proof-of-reserve (PoR) reported an excess backing of at least over 104% for Bitcoin (BTC), Ethereum (ETH), Tether (USDT), BNB, and Solana (SOL).  “When we say Proof of Reserves, we are specifically referring to those assets that we hold in custody for users. This means that we are showing evidence and proof that Binance has funds that cover all of our user’s assets 1:1,…

2 Bitcoin L2 Projects Secure Investments to Enhance Bitcoin’s Defi Capabilities

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On Tuesday, two Bitcoin-centric layer two (L2) initiatives successfully secured funding from strategic investors. Botanix Labs, a startup focused on developing a decentralized Turing-complete L2 EVM (Ethereum Virtual Machine), garnered $11.5 million. Meanwhile, the Bitcoin L2 ZKM attracted $5 million during a pre-seed investment phase. Bitcoin L2 Projects Gain Momentum With New Financing Rounds Throughout […] Original

Can Ethereum Reclaim $4,000? Fragile Fundamentals Threaten To Send ETH Crashing

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Ethereum has put on a disappointing performance for its investors over the last few weeks, leading to concerns on whether the second-largest cryptocurrency by market cap has lost its shine. The cryptocurrency continues to skirt around the $3,100 level, not making any significant breaks upward. This points to weak fundamentals that could trigger a price decline. Ethereum Fails To Make Meaningful Moves Markus Thielen, Head of Research at 10x Research, has pointed out some worrying developments with the Ethereum price. In a new report shared with NewsBTC, he explains that…

The Biggest Movers in the RWA Sector in Q1

The previous quarter saw the RWA market grow by leaps and bounds. Tokenized Treasury bills including BlackRock’s USD Institutional Digital Liquidity Fund, Superstate’s Short Duration US Government Securities Fund, and Ondo’s USDY grew by an impressive 41% to nearly $1.3 billion, driven by significant institutional interest and innovative product launches. Let’s recap the key developments and trends in the sector. Source

Independent Presidential Candidate Robert F. Kennedy Jr. Joins Consensus as a Headline Speaker

PRESS RELEASE. May 7, 2024, Austin, TX – In less than four weeks, independent presidential candidate Robert F. Kennedy Jr. will take the stage in Austin, TX, at Consensus 2024, the world’s largest, longest-running, and most influential gathering that brings together all sides of the crypto and Web3 community. As an environmental lawyer, scion of […] Source CryptoX Portal

Polkadot To Sponsor Messi’s Inter Miami: DOT To The Moon?

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The Polkadot community has approved a proposal to sponsor Inter Miami, the football club co-owned by David Beckham and featuring superstar Lionel Messi. The move could be a strategic decision to propel Polkadot, a smart contracts platform similar to Ethereum, into the global spotlight.  Polkadot To Sponsor Inter Miami The proposal, approved by Polkadot’s Open Gov community, sought 968,000 DOT (roughly $6.5 million) to secure the sponsorship. Under the “sports sponsorship fund,” the goal was to partner with Inter Miami, a team described as one of the “world’s most engaging and…

Here’s What ETH Implied Volatility Tells Us

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The cryptocurrency market has recently exhibited distinct divergences in the behavior of its two leading assets, Bitcoin and Ethereum. While Bitcoin appears to be stepping into a phase of relative stability, Ethereum’s journey paints a contrasting picture of sustained uncertainty, particularly in its options market. This divergence is highlighted by the sustained high levels of implied volatility associated with Ethereum options, signaling a cautious outlook among investors regarding its future price movements. Ethereum Persisting Volatility: A Comparative Analysis Implied volatility (IV) serves as a crucial indicator in the options market,…

NFTs Are Already a Part of Art History

Yes, there has been a hyper-financialization in the NFT space, but money is not a dirty word in art. Money and art are interlinked. NFTs, being so transparently connected to the content that’s being produced, is not a negative thing. That being said, in the last two years, because of the bear market, there hasn’t been as much turnover. People have had time to really focus on their projects, spend more time building and to understand what they want to communicate. There’s fewer people throwing something out there trying to…