Day: July 17, 2024

TON Foundation announces trustless Bitcoin bridge

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Telegram-based TON unveiled new infrastructure to tap into Bitcoin’s blockchain and expand BTC’s utility.  Dubbed TON Teleport BTC, The Open Network (TON) Foundation announced the feature bridges Bitcoin (BTC) and unlocks greater operability for decentralized applications built on the Telegram-focused chain. Although decentralized, most blockchains weren’t initially designed to communicate with each other. This phenomenon alienated standalone networks and created a divide with assets. Networks like Ethereum (ETH) attempted to mitigate this issue by developing what is called the Ethereum Virtual Machine (EVM). This environment allowed anyone to build ETH-compatible…

Ethereum’s Vitalik Buterin Argues Against Supporting Political Candidates Based Only On ‘Pro-Crypto’ Stances

Buterin, viewed as Ethereum’s intellectual leader, argued against supporting candidates purely based on their crypto stances. He wrote that “by publicly giving the impression that you support ‘pro-crypto’ candidates just because they are ‘pro-crypto,’ you are helping to create an incentive gradient where politicians come to understand that all they need to get your support is to support ‘crypto’.” Source

Analyst Predicts Price Will Rocket To $0.00004128 ATH

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The PEPE price has remained strong coming out of the crypto market crash, rebounding more than 40% in a single day. This bullishness has fed the narrative for the meme coin, which is touted to be the next big thing on Ethereum. However, the question remains whether the PEPE price will continue to rise from here if it has reached its peak for this cycle. PEPE Price Still Bullish From Here Despite being down around 30% from its May 27 all-time high of $0.00001718, the PEPE price is still showing…

Injective price has more upside as developer commits rise: analyst

Injective (INJ) price has risen for six consecutive days, its longest winning streak of 2024. It rose by over 12% on Wednesday, making it the best-performing top 50 cryptocurrency.  INJ rally started on July 5th after it tumbled to $16.93 as Bitcoin and other altcoins dropped sharply. It has risen by over 54% from its lowest point this month as the sentiment in the industry improved. Bitcoin has retested the crucial resistance at $65,000 while the crypto fear and greed index has moved from the fear zone of 38 to…

Polymarket Feeds Political Junkies, With Nate Silver

4. Pyth, a blockchain oracle protocol, has officially launched its newest product, Express Relay, on mainnet, according to the team: “The launch introduces a novel decentralized solution to the long-standing problem of MEV in processing liquidations and market-efficiency enhancing transactions in DeFi – once thought to be an inevitable characteristic of on-chain finance. The primitive connects DeFi protocols directly with a network of established searchers through protocol-controlled auctions for events like liquidations. Searchers who have already integrated include Flow Traders, Wintermute, Auros, Flowdesk, Caladan, Tokka Labs and Swaap Finance.” Source

Silicon Valley betting on Bitcoin with Trump support

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Mark Cuban opined that Bitcoin is the central theme behind the support of Silicon Valley giants for former President Donald Trump’s political aspirations. “It’s a Bitcoin play,” said billionaire businessman Mark Cuban on Wednesday as Donald Trump remains a major talking point in crypto, Capitol Hill, and Silicon Valley. Trump told Bloomberg he would reduce corporate taxes to 15-20%. Cuban believes lower tax rates and tariffs could theoretically trigger Bitcoin’s (BTC) parabolic run and herald much higher prices.  “Combine that with global uncertainty as to the geopolitical role of the…

IoTeX ‘DePIN Infrastructure Modules’ to Reduce Development Time

July 17: IoTeX, an Ethereum compatible blockchain platform optimized for decentralized physical infrastructure projects (DePIN), is launching its 2.0 platform to democratize access to DePIN by partnering with NEAR, Filecoin, RISC Zero, Espresso and more, “to enhance data availability, storage, computation and sequencing,” according to the team: “IoTeX 2.0 features DePIN Infrastructure Modules (DIMs) and Modularity Security Pool (MSP) to cut development costs and support sustainable growth for DePIN projects, positioning itself as the largest decentralized hub for devices and data that will be deployed by both humans and AI…

Bitcoin (BTC) Price Dips Below $64K as U.S. Equity Selloff Stalls Crypto Rebound; SOL, LINK Down 2%-4%

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Without High Switching Costs, Telecom Looks Vulnerable to DeWi

While still nascent, this model of building telecom networks has seen promising developments. DePIN networks like Helium have created meaningful supply side footprints, supporting thousands of hotspots. By combining their footprint of hotspots with T-Mobile’s nationwide cellular network, Helium launched Helium Mobile to sell cheap phone plans directly to customers. The experiment is still early, with ~100,000 subscribers and 10,000 suppliers on the network, and many are skeptical it may ever work as free phones and two-year exclusive contracts present meaningful switching costs. Source