The token was trading at $2.66 midday Wednesday, a 5% bump up from its 24-hour low. Most of the Wednesday rally immediately preceded Andreessen Horowitz’s announcement at 10:49 am ET. OP had already rallied Tuesday on traders’ speculation of an a16z deal before giving back its gains – and then some – alongside sizable declines in the broader cryptocurrency markets. Source
Digital assets are typically restricted to their native blockchain networks, and existing methods of transferring tokens from one blockchain network to another are highly vulnerable to hacking or involve using a trusted third party. However, multichain tokens enable users to transfer their assets to another blockchain directly without giving up custody of their tokens. Experts in the blockchain space believe that cross-chain tokens can positively impact the industry by enabling greater user participation over multiple networks. Marius Ciortan, director of product engineering at Bitpanda and Pantos, a European crypto exchange,…
The tweet spurred speculation that the notable venture capital firm could launch its own Optimism-based layer 2 blockchain. A16Z Crypto’s CTO tweeted: “not an L2.” Source
Decentralized exchange (DEX) PancakeSwap wants to lower its token inflation to anywhere between 3% and 5% per annum, far below current rates of over 20%. In a proposal released on April 18, the DEX cited the need to transition CAKE (CAKE) into a staking model characterized by “low staking inflation,” “real yield drawn from PancakeSwap’s protocol revenues” and “product benefits favoring longer-term CAKE stakers.” “This is a significant and important change for PancakeSwap,” the DEX wrote, while providing an opportunity for tokenholders to vote on appropriate changes and a feedback…
The “version 2.5” tokenomics proposal would move CAKE toward a “deflationary model” by slashing the token rewards paid to traders and stakers by over 68%. The so-called CAKE “emissions” on Syrup Pool, PancakeSwap’s main liquidity pool on BNB Smart Chain, would drop by 94% under the proposal. Source
press release As the traditional banking system experiences growing instability with the failures of Silicon Valley Bank, Signature Bank, Silvergate Bank, and Credit Suisse, more individuals are turning to decentralized finance (DeFi) as a secure and attractive alternative. Verse DEX, Bitcoin.com’s decentralized exchange, has been flourishing as a result, enjoying a rapid surge in Total Value Locked (TVL) and gaining recognition as a reliable refuge from traditional banking woes. In recent weeks, Verse DEX has witnessed TVL increase by nearly 300%, surpassing the $15 million mark. This impressive growth has…
Since January 2023, the number of tether stablecoins in circulation has grown from 66 billion to the current 80.9 billion, representing growth of more than 22% this year. Tether’s growth is approaching the high of $83 billion in stablecoins in circulation that the project saw almost a year ago, in May 2022. Tether Supply Is Nearing Its All-Time High The stablecoin market has recently contracted and is currently hovering around $131.94 billion. The decrease in the stablecoin market can be attributed to several dollar-pegged coins that have reduced their token…
April 15, 2023 – Mahe, Seychelles The crypto market has been red-hot recently. Bitcoin ripped past $30,000 and Ethereum staking withdrawals will go live, breaking the $2,000 price point – while Bitcoin’s dominance dropped, its price climbs, which means it might be the beginning of an altcoin season. A new powerhouse DeFi project, DigiToads (TOADS), has confirmed it will list on the BitMart exchange soon. The DigiToads presale has already raised more than $1.35 million, and the lack of vesting enables holders to trade TOADS at the earliest available opportunity.…
Decentralized finance (DeFi) protocol Kyber Network has advised liquidity providers on its Elastic product to withdraw funds after finding a potential vulnerability, it said in a tweet. Source
TrueUSD's Bitcoin Trading Volume Nears Tether’s on Binance but Traders Hesitate to Use the Token Original