Bitcoin Industry

2023-03-20 21:30:00 ​Arbitrum airdrop hype helps zkSync addresses jump over 5X in a week.

Airdrops were created as a marketing tool before the ICO era, rewarding traders for promoting the project and holding its token for a certain period.

Arbitrum, a layer-2 scaling solution for Ethereum, announced the airdrop of its ARB governance token on March 16, with eligible receivers expected to get the token by March 23. The hype around its airdrop has now helped another layer-2 solution, zkSync, to see significant week-over-week growth.

ZkSync is another layer-2 scaling solution for Ethereum, supporting nonfungible tokens (NFT), and atomic swaps and transfers of Ether and ERC-20 tokens within the Ethereum network.

According to data from crypto on-chain analytic firm Nansen, more than 39,000 addresses have bridged over $871 million to zkSync in the last seven days. The number of addresses bridging to zkSync has swelled by 5x in the last week.

After the Arbitrum airdrop, zkSync and StarkNet are regarded as the upcoming airdrops with the most potential value. On March 17, nearly 5,000 people deposited more than 536 ETH using the zkSync bridge, and almost 3,000 users deposited over 234 ETH using the StarkNet bridge.

Although zkSync neither has a native token nor announced any airdrop, the enthusiasm around the Arbitrum airdrop has led many proponents to believe they would be rewarded in the near future.

The hype around the airdrops comes amid multiple fake and scam airdrops being attempted by scammers using Arbitrum branding.

A crypto airdrop is a promotional tool for crypto projects to generate hype around the project. The crypto projects behind these airdrops often directly deposit digital tokens into the wallets of active blockchain community members as a gift. Many of these airdrops have specific preset eligibility criteria that reward users for spreading awareness around the project.

Airdrops have been popular since the early stages of the crypto ecosystem, with the first airdrop coming in 2014. Projects have relaxed marketing strategies in recent times owing to regulatory scrutiny. Open / Comment

2023-03-19 23:00:00 Complaining about "Crypto Winter"?

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2023-03-17 22:00:05 ​China’s Fujian Province Has Processed $22bn Worth of Digital Yuan

Residents and firms based in China’s Fujian Province have reportedly processed almost $22 billion worth of digital yuan transactions to date – as the nation’s central bank digital currency (CBDC) continues to gather pace.

The province was added to the CBDC pilot zone last year. And it broke ground in October when it conducted the nation’s first digital yuan-powered land transfer deal.
Per Fujin News, official figures from the province show that citizens’ digital yuan commercial spending has hit the $14.5 million mark.

It also explained that it – and its partners – had handed out almost $9 million worth of digital yuan tokens in promotional events.
A combined total of 2,572 merchants and vendors in the province now accept digital yuan payments.

This number includes toll booths on the Fuxia (Fujian-Xiamen) Expressway – a major network of highways that passes through the province. Open / Comment

2023-03-17 15:00:17 The SWIM - Spread Wisdom.
World’s 1st Wisdom Utility Platform That Offers Rewards!

The main goal of the project is to create a future generation of wiser, environmentally conscious entrepreneurs. To realize this goal they created they created gaming app "WISE ME," the revolutionary NFT Play-To-Earn game for toddlers and parents that combines Gaming-Earning-Learning.

Very soon the project will start with IEO and listing on the P2B exchange.
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Website: https://www.swimspreadwisdom.io/
Telegram: https://t.me/swim_spreadwisdom
Twitter: https://twitter.com/swimspreadwis Open / Comment

2023-03-14 21:30:00 ​Bitcoin price breaks $26K as US inflation comes in at 6%.

Bitcoin clears $26,000 as U.S. Consumer Price Index rises by 0.4% in February 2023.

The price of Bitcoin saw a sharp uptick over $26,000 as the United States Department of Labor released the latest Consumer Price Index (CPI) data for February 2023.

CPI rose 0.4% last month on a seasonally adjusted basis, with the department noting that the all-items index denoting inflation increased by 6% over the last year. The Labor Department notes that inflation saw its lowest 12-month increase since the period ending September 2021.

CNBC reported that conventional markets were volatile following the release, while cryptocurrency markets reacted positively. Bitcoin saw a surge in price alongside Ether, according to data from CoinMarketCap.

CPI measures the average change over time in consumer prices for a basket of goods and services. It’s calculated by the Bureau of Labor Statistics and is used as an indicator of inflation.

CPI reflects the spending patterns of consumers on items such as food, housing, transportation, clothing, medical care and recreation. It’s used to adjust wages, benefits and social security payments for inflation, measure economic performance and set monetary policy.

The U.S. Labor Department’s statement notes that the shelter index was the largest contributor to the monthly all-items increase, accounting for 70% of February 2023’s CPI increase. Indexes for food, recreation, household furnishings and operations also contributed.

The food index increased 0.4% last month, while the food at home index rose 0.3%. The energy index decreased by 0.6%, while natural gas and fuel oil indexes also declined in February. Open / Comment

2023-03-11 21:30:00 ​Circle’s USDC instability causes domino effect 🀟 on DAI, USDD stablecoins.

Following USDC’s depegging, three stablecoins — DAI, USDD and FRAX — also depegged from the U.S. dollar.

The stablecoin ecosystem felt an immediate effect as USD Coin depegged from the U.S. dollar due to a subsequent sell-off after Silicon Valley Bank (SVB) did not process $3.3 billion of Circle’s $40 million transfer request. Given USDC’s collateral influence, major stablecoin ecosystems followed suit in depegging from the U.S. dollar.

Dai, a stablecoin issued by MakerDAO, lost 7.4% of its value due to USDC’s depegging. As of June 2022, $6.78 billion worth of DAI supply was collateralized by $8.52 billion worth of cryptocurrencies, confirms data from Statista.

Out of the lot, USDC represented 51.87% of DAI’s collateral, worth $4.42 billion. Other prominent cryptocurrencies include Ether and Pax Dollar (USDP) at $0.66 billion and $0.61 billion, respectively.

As a result, DAI depegged from the dollar to momentarily touch $0.897. The stablecoin recovered to trade around the $0.92 mark at the time of writing, as shown below.

USD Digital (USDD), a stablecoin issued by Tron, and fractional-algorithmic stablecoin Frax (FRAX) shared a similar fate due to adverse market sentiments. USDD responded to the USDC sell-off with a nearly 7.5% drop to trade at $0.925, while FRAX dipped even further to $0.885.

Other popular cryptocurrencies, such as Tether and Binance USD, continue to maintain a 1:1 peg with the U.S. dollar.

The entire depegging ordeal started after Circle announced that $3.3 billion of its funds were not processed for withdrawal by SVB.

SVB was shut down by the California Department of Financial Protection and Innovation for undisclosed reasons. However, the California regulator appointed the Federal Deposit Insurance Corporation as the receiver to protect insured deposits. Open / Comment

2023-03-11 15:00:12 Complaining on "Crypto Winter"?
Nowhere to get X's back? You're missing BIG numbers if you're not in Multimining!

You don't have experience in mining?
No farm with employees to support?

DOESN'T MATTER! You have Liquid Mining App.
Liquid Mining is a network of largest data centers around the world with single goal — make revolution in mining.

How you will do it?
You will mine coins in pre-mine stage before IDO and ICOs when mining rewards are huge in terms of volume of coins per block. Once projects are listed on crypto exchange - you sell and make profit.

The development team behind Liquid Mining was pre-mining:
— Ergo - 631%
— FLUX - 402%
— FIRO - 457%
— TONCOIN - 531%
— Neoxa - 1214%
— Nexa - 318%
— Zano - 264%
— Rvn - 597%
— CFX - 417%
— Kaspa - 837%

With more than 6 years of close work with crypto startups — they know how to choose profitable ones.

The average profit for users is now at 400%+/year!

Telegram | Twitter | Discord | Website Open / Comment

2023-03-10 14:00:22 Why will these tokens skyrocket in 2023?

The end of the bear market, the growth of individual tokens, and the development of other products are all contributing to the promising outlook for some tokens.

Fortunately, you can relax as Yahoo Finance (link) has selected the top 5 cryptocurrencies to invest in this year for your profits to skyrocket:

Polygon
SingularityNET
QMALL
Optimism
Rocket Pool

Read the article http://bit.ly/3JtN0zC Open / Comment

2023-03-09 18:00:23 ​AirDAO Will Elect Community Members to its Ecosystem Fund Multisig

AirDAO is a layer one blockchain and web3 ecosystem with a long-term goal of the entire blockchain and ecosystem under the control of the community. AirDAO recently held a successful governance vote to upgrade the tokenomics for its $AMB token. Now, it is holding an election for community members to join the multi-signature wallet that will control the AirDAO Ecosystem Fund.

Enabling the community to elect representatives to join the multi-sig embodies AirDAO’s commitment to putting the community at the heart of the ecosystem. The election also ensures the community can influence how AirDAO ecosystem funds are allocated. The AirDAO Ecosystem Fund will be a pool of 850 million AMB to incentivize development in the AirDAO ecosystem. The community-owned DAO will decide when and how to use the funds.

AirDAO Ambassador program members have shortlisted several potential election candidates. During the election, the community will vote for the candidates they consider responsible and dedicated enough to AirDAO to participate in the multi-sig. The vote will be held using AirDAO’s Snapshot. The voting period opens at 3 PM UTC on Friday, March 10th, and ends on Monday, March 13th, at 3 PM UTC. AirDAO will hold AMA sessions in the run-up to the vote to further educate the community on this significant progression toward our fully decentralized future.

DYOR Website | Telegram | Twitter Open / Comment

2023-03-08 20:30:00 ​ Federal Reserve Chairman Powell Speaks Out: We Don't Want to Stifle Crypto

Federal Reserve Chairman Jerome Powell has made it clear that the central bank doesn't want to prevent crypto innovation but warned that the industry is still replete with fraud and risks.

During his appearance before the Senate Banking Committee on Capitol Hill, Powell discussed the cryptocurrency space and noted that the U.S. central bank had been involved in this area to a significant extent. He also acknowledged that blockchain technology has practical applications in the real world.

"We have to be open to the idea that – somewhere in there – there is technology that can be featured in productive innovation that makes people's lives better ," he told members of the committee, adding:

“We don’t want regulation to stifle innovation in a way that just favors incumbents and that kind of thing. But, like everyone else, we’re watching what’s been happening in the crypto space and what we see is quite a lot of turmoil, we see fraud, we see a lack of transparency, we see run risk.”

He also once again warned that banks and other financial institutions need to be cautious in how they interact with crypto. “We see in crypto activity lots of things that suggest that regulated financial institutions should be quite cautious in doing things in the crypto space," he said. Open / Comment