Month: May 2024

Ethena (ENA) Price Jumps as Bybit Endorses USDe Token as Collateral for Crypto Derivatives Trading

The protocol’s USDe token, often referred to as “synthetic dollar” instead of a stablecoin, is a structured finance product wrapped in a token. It offers steady yields to investors by using ETH liquid staking derivatives such as Lido’s stETH as backing assets, pairing them with an equal value of short ETH perpetual futures position on derivatives exchanges to keep anchored at $1 price. This strategy is also known as a “cash and carry” trade, which harvests derivatives funding rates for a yield. Source

Ethernity Transitions to an AI Enhanced Ethereum Layer 2, Purpose-Built for the Entertainment Industry – Blockchain News, Opinion, TV and Jobs

LOS ANGELES, United States, May 7th, 2024, Chainwire Global brands and talent will be able to use Ethernity’s technology to store their IP on-chain and engage with their fans through next-generation content and experiences Ethernity, the renowned platform for authenticated and licensed NFTs with icons like Lionel Messi and Shaquille O’Neal, announces its groundbreaking evolution into a pioneering Layer 2 solution on the Ethereum blockchain. This evolution is poised to transform the web3 entertainment landscape, directly addressing the challenges faced by major brands like Amazon, Marvel, and Warner Brothers in…

Bitcoin Layer-2 Builder Botanix Labs Raises $8.5M From Polychain Capital, Others

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Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated. CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as…

PEPE Whales Move $21 Million Worth Of Coins – Here Are The Destinations

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On-chain data shows PEPE whales have moved large amounts of the memecoin during the past day. Here’s where these tokens have been heading. PEPE Whales Have Been Active On The Network Today According to data from the cryptocurrency transaction tracker service Whale Alert, two large PEPE transactions have occurred in the space of a few hours during the past day. Both of these moves are of a scale that’s typically associated to the whales, humongous entities that can carry some influence in the market thanks to their ability to make…

Suilend to Run Monthslong Points Program With a Twist

One notable difference in Sui’s points program is its reliance on blockchain tech, Rooter said. In an interview with CoinDesk, Rooter said the points earned by users for, say, depositing USDC will be recorded on the blockchain, where other smart contracts can digest the data. Source

Positive Market Turn: US Bitcoin ETFs See Substantial Inflows After Last Week’s Outflows

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According to statistics, U.S. spot bitcoin exchange-traded funds (ETFs) saw their second consecutive day of positive inflows after recording approximately $378.3 million on Friday. During Monday’s trading sessions, the U.S.-based bitcoin ETFs accumulated $217 million in positive inflows, with Grayscale’s Bitcoin Trust (GBTC) also marking its second consecutive day of inflows. US Spot Bitcoin ETFs […] Original

Here’s How This Ethereum Whale Made $16 Million From A Single Trade

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An Ethereum whale was recently revealed to have made $16 million from a single trade involving the second-largest crypto token by market cap. This whale’s story again highlights how conviction in an investment can be very rewarding in the crypto space.  How This Ethereum Whale Made $16 Million In A Single Trade On-chain analytics platform Lookonchain revealed in an X (formerly Twitter) post that the whale withdrew 12,906 ETH ($24.39 million) from Binance when the crypto token was still trading at $1,890 a year ago. With Ethereum currently trading at…