Crypto Calendar News

2023-03-21 08:33:02 MarketCap’s Conflux Exceeds $1.2 Billion, Token Grows 150% In 7 Days

According to data from Coinmarketcap, the market value of the public chain project Conflux has exceeded $1.2 billion, reaching a record high, reaching $1,203,186,715 to date and becoming one of the “crypto unicorns”. The CFX token has become the most profitable crypto asset of the week from CoinMarketCap’s top 100 after its price increased by more than 150% during this period.

The Conflux Network project aims to optimize blocks at the same time or meet the processing capacity of each node up to 3,500 TPS. Moreover, Conflux’s technology can confirm a block in 23 seconds, reducing transaction fees compared to PoW or PoS projects. Conflux is a public blockchain platform, possessing the highest TPS (transactions per second) while ensuring the system’s decentralization and the network’s safety. This project is the result of a combination of a unique and advanced algorithm with a novel and innovative structure, the Tree Graph (TG). The project emerged after integrating with China’s Instagram partner, Xiaohongshu, earlier this year.

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2023-03-20 08:15:06 SPACE ID Voyage Season 2 Is Set To Launch With More Rewards Than Referral Program

SPACE ID Voyage Season 2 is set to launch on March 19th, and it promises to be an exciting event for both new and existing users. This season’s campaign offers even more rewards and excitement than the Referral Program, which means participants have more opportunities to earn points and win big. The first phase, from March 19th to March 23rd, allows participants to claim and receive locked Voyage Boxes.

To participate in Voyage Season 2, users must either register a .bnb or .arb domain after March 14th, 2 PM UTC (new user) or have been eligible for the Retroactive Early Adopter Airdrop and held a .bnb or .arb domain before March 14th, 2 PM UTC (existing user). Upon joining, every new user receives a locked Voyage Box, which will differ for everyone based on their past on-chain activities. Voyage Boxes come in three different rarities – Voyage Uncommon Box, Voyage Rare Box, and Voyage Legendary Box – each containing random points that can be claimed after unlocking. The higher the rarity of the box, the more points a user can earn.

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2023-03-19 08:48:02 Cryptocurrency Ban Urged By European Parliament Member Amid Banking Turmoil

Former Belgian Finance Minister and European Parliament member Johan Van Overtveldt has called for a ban on cryptocurrency, stating that the digital asset industry provides “no economic or social value.”. Van Overtveldt made the comments on Twitter, amidst growing concerns about the banking sector, as Silicon Valley Bank, Signature Bank, and Credit Suisse face difficulties.

The contagion from the recent issues at Silvergate, Silicon Valley Bank, and Signature Bank may have influenced Van Overtveldt’s stance. As board member Barney Frank commented, the closure of Signature Bank sent a “strong anti-crypto message” from regulators. Despite Van Overtveldt’s comments, the crypto industry continues to evolve and grow, with an increasing number of institutions and individuals investing in cryptocurrencies. As the industry matures, regulations will likely continue to evolve to balance innovation with the need to protect investors and the broader financial system.

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2023-03-18 11:09:02 Polygon And Avail Split After 3 Years, Co-founder Forms A New Entity

Polygon spun out its modular blockchain project Avail into its own company. Anurag Arjun, the co-founder of Avail, departed and purchased the company, and the Avail employees will transition to the new organization. Avail is presently functioning on testnet, with the mainnet set to debut soon. As part of the spin-off, Avail will establish the Avail Foundation, a new non-profit foundation.

Polygon is said to have initiated the Avail project in late 2020 and made it public in mid-2021. Avail is a modular blockchain that enables developers to create scalable and flexible apps. Modular blockchains, as opposed to monolithic blockchains, segregate essential operations such as consensus, security, data availability, and execution. Arjun was a co-founder of this initiative earlier. Nevertheless, the purchase of the project by a different entity (owned by Arjun) would formally remove it from Polygon. Arjun’s whole Polygon team will be transferred to the new business as a result of this relocation.

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2023-03-17 07:43:02 TrueUSD (TUSD) Moves $1 Billion Reserves To Bahamas Due To US Banking Crisis

According to Bloomberg, Archblock oversees about $2 billion in reserves that back its stablecoin TrueUSD (TUSD). After the reserve transfer, Capital Union Bank now holds more than $1.4 billion, a real-time attestation by an independent accounting firm showed Wednesday. This is up from $438 million on March 10. Archblock began transferring funds after New York-based Signature Bank.

Archblock was founded in 2017 under the name “TrustToken” when it succeeded in making a name for TrueCurrencies (TUSD). September 2022, TrustToken decided to focus on research and development of DeFi products for businesses and financial institutions under a new brand of Archblock. Alex de Lorraine, Archblock’s chief financial officer and chief operating officer, told Bloomberg News that the decision to move funds to Capital Union in recent days was the result of worsening banking conditions for money businesses electronics in the US.

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2023-03-16 08:17:02 A16z Crypto Startup School invests in crypto wallet infrastructure startup Capsule

Capsule, a crypto wallet infrastructure startup, emerged from stealth with funding. Andreessen Horowitz (via its accelerator Crypto Startup School) and Geometry co-led the funding, Capsule said Tuesday, without disclosing the raised amount. A16z's CSS accelerator program typically invests $500,000 in participating startups in exchange for 7% equity, according to its website.

Capsule was founded last year by Nitya Subramanian, a former head of product at the Layer 1 blockchain Celo, to help developers create wallets with interoperable transacting. Rivals include Web3Auth and Coinbase's recently announced Wallet as a Service product. Capsule's closest competitors build embedded wallets that are limited to specific applications and onboarding," Subramanian told The Block. "Capsule's main difference is the ability to create wallets that interact with every app to maximize the benefits developers gain by building on crypto rails.

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2023-03-15 08:56:02 Helium: The Wallet Will Instantly Redeem Native Sub DAO Tokens After Migration

The decentralized wireless communication network Helium published a post titled “Response to Binance.US” on March 14, indicating that Binance.US revealed plans to delist HNT/USD and HNT/USDT transactions on March 21, 2023, prior to the Solana migration. While the Foundation is sad that Binance.US opted to take this move before the relocation.

The Foundation will continue to communicate with Binance.US and educate them on the network’s fundamental goals and development path. The Foundation remains dedicated to the migration, which will dramatically increase network utility and allow us to devote more resources toward our ultimate goal: a ubiquitous, cheap communication layer for all people and devices. Helium will begin moving to Solana on March 27, according to earlier Coincu reporting. The Foundation produced a whitepaper on February 19th saying that the Helium Network.

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2023-03-14 08:04:02 USDC Stablecoin Repegged To $1, Boosting Your Crypto Portfolio

The Circle USDC stablecoin has regained its peg and is now trading at $1 following its exposure to the closure of Silicon Valley Bank. Circle company’s exposure to SVB Financial, the Circle-issued stablecoin plummeted in value on Friday. The FDIC sale of SVB’s assets will provide uninsured depositors with a dividend, which should be a positive for depositors as 90% of funds held in Silicon Valley Bank were uninsured.

Coincu initially reported on the stablecoin’s recovery after the bank failure last week. Meanwhile, the Federal Reserve announced that it would make all depositors affected by the SVB closure whole, and those depositors now have access to funds.The Silicon Valley Bank closure is one of the most concerning developments in the financial sector in recent years. However, the US government is intervening to protect depositors from the potential fallout of the largest banking failure since 2008. After users learned of the Circle company’s exposure to SVB Financial, the Circle-issued stablecoin plummeted in value on Friday. The company acknowledged holding around $3.3 billion of funds backing USDC in the now-closed bank, representing approximately 8% of the overall funds.

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2023-03-13 09:48:02 USDC Backed To $0.99 As Traders Gain Profits Amid Silicon Valley Bank Concerns

As USDC remains a popular digital dollar, investors may be wondering whether it will survive after the recent collapse of Silicon Valley Bank. If the USD Coin eventually survived, this would be a suitable opportunity to buy at the bottom when USD Coin falls. Experts suggest that the proportion of USD Coin reserves affected by the bank’s collapse is no more than 10%.

In addition, Circle, the issuer of USDC, has announced that it will use company resources to make up for any shortage in funds if Silicon Valley Bank cannot repay 100%. USDC liquidity operations are expected to return to normal after U.S. banks open on Monday. While some investors may be concerned about other U.S. banks following in Silicon Valley Bank’s footsteps, the Federal Reserve and FDIC are considering setting up a fund to guarantee deposits for struggling banks. It is important for investors who buy at the bottom to keep track of real-time dynamics to avoid unfair positions.

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2023-03-12 08:34:02 Circle’s USDC Withdrew And Burned In A Large-scale Panic

The US financial crisis has spread to the crypto market, which can be clearly seen by the fact that Circle’s USDC is losing its $1 peg. 0xScope tweeted that USDC is decoupling, and statistics show large-scale panic withdrawal/burn. Among them, 7.66 billion USDC was withdrawn from CEX in the past 24 hours, Jump cashed out 150 million USDC, Wintermute/FalconX deposited USDC into Coinbase.

In addition, the data collected by 0xScope shows that Voyager has the most exposure. Before USDC was depegged, Voyager was the largest Externally Owned Account (EOA) holder. Total confirmed losses are currently $31 million. This consequence is attributed to the fact that Circle, the second-largest issuer of stablecoins in the market at the moment, was directly exposed to the crisis of Silicon Valley Bank. Circle employs the bank as one of six banking partners to manage the 25% share of USDC reserves stored in cash. The stablecoin issuer confirms that it is awaiting clarification on how the FDIC receivership of SVB would affect its depositors and that it is continuing to function regularly.

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