Day: June 10, 2024

Arbitrum DAO Agrees To Distribute $216 Million In Funding

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The Arbitrum Foundation, a Decentralized Autonomous Organization (DAO) tasked with developing and nurturing the Arbitrum ecosystem, has approved the start-up of a support fund aimed at developing projects in its gaming ecosystem. The organization has revealed plans to distribute a whopping $216 million to improve its gaming ecosystem. Arbitrum To Allocate $216 Million For Gaming Proposal The Arbitrum Foundation has officially endorsed a proposal, involving a funding initiative to expand and develop its gaming ecosystem. According to its blog post, the Arbitrum DAO will work towards allocating 225 million ARB…

Why XRP Could Hit $7.5 Sooner Than You Think: Expert Insights Unveiled

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The digital currency XRP, one of the major altcoins in the crypto market, is currently showing signs that may excite investors and traders. Recent analyses indicate the potential for significant price movement. According to Egrag Crypto, a prominent cryptocurrency analyst, the altcoin’s price could ascend to ambitious new heights in the coming months based on technical patterns and market trends. Related Reading Technical Indicators Pointing Upwards XRP has so far emerged as a focal point for potential bullish activity. Notably, the asset has recently broken out of a week-long downtrend, recording…

Bitcoin, Ethereum exchange balances at 4-year low 

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Bitcoin and Ethereum user balances have dropped to levels not seen since 2020. Glassnode data revealed that user balances of Bitcoin (BTC) and Ether (ETH) on centralized exchanges reached a four-year low as investors held out for higher prices in a bull market.  BTC balances dipped to below 2.3 million coins, valued at around $160 billion, while ETH balances have dropped below 16 million, amounting to less than $59 billion. Bitcoin and Ethereum exchange balance at 4-year low | Source: Glassnode Why Bitcoin and Ethereum exchange levels dropped The amount…

Zksync Introduces Community Governance With ZK Nation

Zksync, an Ethereum layer two (L2) network developed by Matter Labs, has launched a new community-driven governance system named ZK Nation. The system aims to enhance the governance, security, and scalability of the Zksync protocol through active community participation. ZK Nation: New Governance Framework Introduced by ZKsync According to the announcement, the ZK Nation governance […] Source CryptoX Portal

Hedge Funds Heavily Betting For Bitcoin To Fall: Will This Strategy Fail?

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Looking at the formation in the daily chart, there is no relief for Bitcoin at spot rates. Following the flash crash on June 6, prices reversed sharply from the $72,000 level, further highlighting the significance of the liquidation level. In the past, Bitcoin prices have recoiled from this level, with analysts expecting a short squeeze to print once this line is breached. Hedge Funds Are Short Selling Bitcoin Futures: Will This Strategy Backfire? Amid this slip, one analyst on X notes that hedge funds and Wall Street firms have increasingly…

Top Crypto Exchange Binance Reaches 200,000,000 User Milestone

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The world’s largest crypto exchange has reached a new milestone despite facing legal and regulatory battles. In a post on social media platform X, Binance thanks members of its community for helping the crypto exchange achieve a global user base of over 200 million.  “Today, we celebrate 200 million – and it’s all because of YOU! Your support is the heartbeat of our journey to one billion users.” Aside from growing its users to more than twice the population of Germany, Binance is also the leading crypto exchange in terms…

Uniswap (UNI) Labs Acquires Blockchain-Based Interactive Game, ‘Crypto: The Game’

Uniswap (UNI) Labs Expands with New Acquisition In a significant move to diversify its portfolio and enhance user experiences, Uniswap Labs has acquired Crypto: The Game (CTG), an interactive, onchain survival game, according to Uniswap Protocol. This acquisition marks a strategic move for Uniswap Labs as it aims to integrate more interactive onchain activations for its growing community. The CTG team will join forces with Uniswap Labs to continue their work on the highly anticipated Season 3 of the game. Additionally, the team will experiment…

Solana (SOL) Heavyweights Wage War Against Private Mempool Operators

Over 30 validator operators were kicked off the Solana Foundation Delegation Program over the weekend, a source familiar with the matter said. While they remain validators on the network, they’re no longer eligible to receive what amounted to payout boosters for validating transactions on the Solana blockchain. Many of the operators were Russians, another source said. Source