Tag: Token

Yearn.Finance’s YFI token skyrockets on upcoming v3 launch news

Yearn.Finance (YFI), a key player in the decentralized finance (defi) sector, has witnessed a remarkable surge of 106.87% over the past week, with a 2.11% increase in the last 24 hours. As of press time, YFI is trading just under $17,800 at a market cap of $506 million. Most growth came shortly before the team behind the project announced significant updates on Nov. 16. In the announcement, the official Yearn.Finance Twitter profile stated that “Yearn v3 launches soon.” Unlike the earlier version where each Vault could only contain one strategy,…

Polygon gas fees spike 1000% amid Ordinals-inspired token craze

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Gas fees on Ethereum layer-2 Polygon (MATIC) surged more than 1,000% to reach a peak of $0.10 as users inundated the network with the minting of Ordinals-inspired tokens dubbed POLS.  In a Nov. 16 X (formerly Twitter) post Polygon founder Sandeep Nailwal shared his surprise at the elevated transaction activity on the network saying the spike could’ve been due to the launch of a new Polygon-based nonfungible token (NFT) collection. What is going on on @0xPolygon POS chain? 6m transactions in last 24 hrs. 170 TPS on average. 1mn+ MATIC…

Failed ‘$175M’ real estate token raise draws ire of Texas regulators

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The Texas State Securities Board has accused a network of companies under the “GS” brand and operating from Germany of fraudulent activities “tied to digital assets, investments in a staking pool in a proprietary metaverse.” The network of companies is controlled by Josip Dortmund Heit. As described by regulators on November 16, respondents GS Partners, GS Smart Finance and GS Wealth allegedly held three rounds of metaverse property sales beginning September 2021. At the time, investors were informed that could purchase XLT Vouchers, or BNB Chain tokens that represented ownership…

Stablecoin Issuer Paxos Plans New U.S. Dollar-Backed Token for Singapore Operations

The in-principle approval for a new Paxos Digital Singapore Pte. Ltd. entity from the Monetary Authority of Singapore allows the firm to offer its services to customers under the Payments Services Act (PSA) while awaiting full approval, the statement said. Upon receiving full approval to conduct business in Singapore, Paxos will partner with enterprise clients to issue a U.S. dollar-backed stablecoin, the firm’s leaders said. Source

Binance Labs invests in ARKM, the native token of Arkham platform

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Binance Labs, the venture capital arm and incubator arm of crypto exchange Binance, said on Nov. 15 that it has invested in ARKM, the native token of the “deanonymizing” blockchain platform Arkham. The company said in a blog post on the website that the investment aims to support “on-chain insights at scale across the blockchain ecosystem.” “Arkham’s proprietary technology advances how on-chain intelligence is produced and shared,” Binance Labs investment director Alex Odagiu told Cointelegraph. The platform allows individuals or organizations to do their own research, in addition to enabling users to participate in…

DYDX Pumps Ahead of Massive $500M Token Unlock

Over the past 30 days, DYDX has more than doubled in price as speculators anticipated the token’s migration from Ethereum to the dYdX chain. However, a large token unlock in just over two weeks has the potential to damp spirits. There are 179 million DYDX tokens in circulation, and the upcoming unlock will increase that to 395 million, according to token.unlocks. Source