Crypto Fight

2022-09-28 16:00:08 Affyn will become the NUMBER 1 blockchain metaverse in the entire industry. Can’t wait for their upcoming BIG UNVEILS in 2 Days!

TELEGRAM:
https://t.me/affynofficial/ Open / Comment

2022-09-27 20:00:04 ​​NFT ecosystem attempts a bounce back amid bearish market sentiment.

Supporting the uptrend, the number of NFT holders grew 32.24% over the past three months, as evidenced by data from NFTGo.

Over the past two years, nonfungible tokens (NFTs) gave the crypto ecosystem the boost it needed to grab mainstream attention — owing to the involvement of prominent artists and celebrities. Despite the enormous losses suffered by NFT investors following the ongoing 10-month-long bear market, however, the ecosystem showed sustainable signs of a comeback in the last two weeks.

Since Sept. 12, the performance of blue-chip NFT collections witnessed a steady growth, inching back toward the 10,000 Ether (ETH) that was lost in mid-August 2022, according to data by NFTGo.

On Sept. 20, the market capitalization, which is derived from the floor price and the trading price of NFTs, spiked nearly 16.5% at roughly 11.25 million ETH.

Market capitalization of NFT collections. Source: NFTGo
Reciprocating the market cap breach of the 11 million ETH mark for the first time in three months, the number of NFT holders grew 32.24% along the same timeline, as shown above.

Ethereum Name Service (ENS) currently contributes the highest volume at 9.25%, which is followed by popular NFT collections such as Bored Ape Yacht Club and Otherdeed.

However, current market sentiment — calculated based on volatility, trading volume, social media and Google trends — remains cold as investors try to recoup their previous losses.

NFT marketplace OpenSea launched the OpenRarity protocol to verify the rarity of NFTs within its platform.

The protocol aims to provide a reliable “rarity ranking” that would assist investors when considering purchasing NFTs. Open / Comment

2022-09-24 20:00:05 ​​Korean crypto bank partners with Blockdaemon to offer retail staking services.

In January, Delio was granted Virtual Asset Service Providers (VASP) approval by the Korean Financial Intelligence Unit.

Crypto-focused finance company Delio has partnered with Blockdaemon to launch retail-focused staking services, giving customers a more seamless way to earn rewards on their digital asset holdings.

Delio’s staking services expand its existing crypto-bank offerings, which include lending, deposits and deposit accounts, the company announced Thursday. The new service offering is powered by blockchain infrastructure provider Blockdaemon, which provides a suite of institutional staking products.

While Delio didn’t specify which crypto assets will be included in the new staking services, Blockdaemon currently supports integration with over 60 blockchains. Delio representative James Jung also clarified that the firm also plans “to offer a variety of crypto asset financial services for users outside of Korea."

Founded in 2017, Blockdaemon achieved unicorn status last year after securing $155 million in a Series B funding round. In the startup world, a unicorn is a company that achieves a valuation of $1 billion or more. At the time, Blockdaemon was valued at just over $1.25 billion.

Meanwhile, Delio appears to be expanding its crypto-finance offerings after receiving a Virtual Asset Service Provider (VASP) license from the Korean Financial Intelligence Unit. Delio claims to be the first crypto company in South Korea to obtain a VASP for lending and deposit services.

Despite market turmoil and controversy surrounding the collapse of the Terra ecosystem, Korea remains a large and important player in the global crypto arena. As such, President Yoon Suk-yeol, who took office this past May, has adopted a favorable approach toward digital asset regulation in the country. As reported by Cointelegraph, Korea’s financial watchdog is looking to expedite the review of 13 crypto-focused bills tabled to the country’s National Assembly. Open / Comment

2022-09-23 20:00:05 ​The GEM for crypto lovers is here + FREE NFTs

The new project is called hexn.io — a perfect platform for growing your crypto assets EVEN DURING CRYPTO WINTER

They are giving away FREE NFTs for the first 600 members — rules are simple:

1. Join the channel @hexnio
2. Register at the website hexn.io
3. Claim reward in pinned message

Don't miss your chance this time!
Check the platform RIGHT AWAY: hexn.io Open / Comment

2022-09-21 20:30:00 ​​Indian exchange WazirX follows Binance in delisting USDC.

Just like Binance, India-based exchange WazirX will implement BUSD auto-conversion for balances of USDC, USDP and TUSD at a 1:1 ratio in October.

Major Indian cryptocurrency exchange WazirX has opted to delist the USD Coin (USDC) from its platform and convert the remaining balances into Binance-backed Binance USD (BUSD) stablecoin.

WazirX officially announced on Monday that it has stopped deposits of USDC alongside other stablecoins like Pax dollar (USDP) and TrueUSD (TUSD).

According to the announcement, the platform will instead offer the BUSD stablecoin to enhance liquidity and capital efficiency for users. WazirX will implement BUSD auto-conversion for users' existing balances of USDC, USDP and TUSD at a 1:1 ratio on Oct. 5, the firm said.

“Users will be able to view their USDC, USDP and TUSD balances under the BUSD-denominated account balance when the conversion is complete,” the exchange noted. “WazirX may amend the list of stablecoins eligible for auto-conversion,” the announcement added.

Withdrawals of USDC, USDP and TUSD will still be available on WazirX till Friday. The platform then plans to delist the stablecoins from its spot trading pairs on Sept. 26.

According to data from CoinGecko, WazirX was trading an insignificant amount of USDC before the announcement. At the time of writing, the only USDC trading pair listed on WazirX is USDC trading against Tether (USDT), with $3,400 in daily volumes.

In contrast, BUSD has two trading pairs on WazirX, trading against the USDT stablecoin and the Indian rupee, with daily trading volumes amounting to $5,700 and $5,200, respectively.

WazirX did not respond immediately to Cointelegraph’s request for comment.

Launched by the regulated fintech firm Circle and the Coinbase crypto exchange, USDC is the second-largest stablecoin by market capitalization following Tether USDT. At the time of writing, USDC’s market cap amounts to $50 billion, or down more than $17 billion from the rival stablecoin USDT. Binance USD, the third-largest stablecoin by value, has a market cap of $20.6 billion, according to CoinGecko. Open / Comment

2022-09-21 14:00:08 Limited-time Promotion on AAX

Share to 300,000 USDT rewards in 42days by subscribing savings on AAX. Invite more friends to unlock a bigger prize pool!

You can also enjoy up to 80% APY on stable coins savings in September Don't miss the chance for the amazing passive earnings!

Sign up now https://bit.ly/330x45m
More details about Savings Marathon https://bit.ly/3UrcrW5 Open / Comment

2022-09-20 20:00:06 ​Crypto market maker Wintermute was hacked with over $160,000,000 today, September 20. The news was spread around the crypto community within a few hours.

Alex Andryunin, CEO at GotBit, has shared his opinion on the situation that occurred:

"We clearly understand that Wintermute's outdated MM business model led to such a collapse. Crypto executives should consider that providing a large value of tokens to a single market maker's wallet under management is a deep end. Unfortunately, they often use this centralized paradigm on both CEX and DEX exchanges. Why won't Social Engineering allow CEX to be hacked tomorrow and withdraw the other half of Wintermute's funds? The future lies with distributed MMs that DO NOT TAKE control of their funds from their clients.

Web3 has always had an atmosphere of cooperation and mutual assistance!
We at Gotbit are ready to help Wintermute customers to get out of a difficult situation after a series of dumps on DEX and CEX. We're happy to provide 1 month FREE support to everyone damaged from Wintermute." Open / Comment

2022-09-18 20:00:05 ​​Environmental groups want Bitcoin to follow Ethereum’s example in moving to proof-of-stake.

Critics have suggested Bitcoin could not operate as the same decentralized currency without a consensus mechanism like proof-of-work.

Transitioning the Ethereum blockchain from proof-of-work to proof-of-stake has reduced its energy usage by more than 99% — and many climate activists have called for Bitcoin to follow suit.

In a Thursday notice following the Merge, the United States-based Environmental Working Group, or EWG, announced it would be starting a $1-million campaign aimed at urging Bitcoin (BTC) to go green as opposed to using an “outdated protocol” like PoW. The announcement came amid environmental activity group Greenpeace launching a petition directly at Fidelity Investments to facilitate the transition to PoS.

“Other cryptocurrency protocols have operated on efficient consensus mechanisms for years,” said Michael Brune, director of the EWG campaign. “Bitcoin has become the outlier, defiantly refusing to accept its climate responsibility.”

Speaking to Cointelegraph, EWG senior vice president of government affairs Scott Faber suggested the Merge event was generally “good for the climate” in reducing the energy requirements for the Ethereum blockchain. He cited a September report from the White House Office of Science and Technology Policy that concluded that cryptocurrencies — specifically noting PoW staking — significantly contributed to energy usage and greenhouse gas emissions, using more power in the United States than that for home computers.

“The Merge proves that changing the code is possible,” said Faber. “The Merge proves that digital assets that rely on proof-of-work can change to proof-of-stake and use far less electricity. We’re hopeful that the Bitcoin community will follow Ethereum’s lead.”

Faber added that he would support any efforts by the White House to set energy standards affecting crypto miners, saying regulators “should not stand by and hope for the best” but needed to take action “quickly” given the climate crisis:

“We’re agnostic. We support cryptocurrency. We’re not opposed to digital assets, but we are concerned about the rising electricity use associated with assets that rely on proof-of-work, and the climate pollution that is inevitably the result of more and more electricity use.” Open / Comment

2022-09-15 21:00:03 ​​Bitcoin proponent claims PoS rewards aren't 'yields,' Vitalik snaps back.

Buterin responded to criticism by claiming PoW-based mining rewards are not much different from the PoS system, however, Wertheimer was quick to point out the differences.

Independent developer and Bitcoin proponent Udi Wertheimer created quite a buzz on Crypto Twitter earlier on Monday after he claimed that a proof-of-stake (PoS) based yield reward system for staking is more of a penalty for non-stakers.

Wertheimer, who is a well-known Ethereum critic, believes that the PoS staking reward system isn't exactly a yield reward. In PoS staking, a user cannot do anything with their staked ETH, while those who don’t stake their tokens and participate in other network activities aren’t rewarded.

With thEthereum Merge just a couple of days away, the sly on the PoS system didn’t really go down well with the Ethereum community, including co-founder Vitalik Buterin.

Buterin responded to Wertheimer’s criticism by claiming that Bitcoin mining is not much different from PoS staking as proof-of-work (PoW) mining “penalizes anyone who has a smaller percentage of hash power than their percentage of the coin supply.”

Wertheimer was quick to remind Buterin that miners and holders are two different sets that don't necessarily overlap in the PoW ecosystem, while the same can’t be said for the PoS system. He explained further that with liquid staking, one could expect holders and stakers to overlap due to the flaw in the rewarding system.

Another user claimed that the yield comes from the gas fee paid by the user for transaction processing, however, Wertheimer was quick to point out that on an average fee per block only makes 1% of the total yield rewards.

Thus, the rest of the yield reward has to come from somewhere else, which many believe could come from printing more ETH, making the value of existing ETH lower and inflationary.

The Merge slated between Sept. 13–15 depending on the network hash power, will see Ethereum move to a PoS mining consensus from its current PoW one. Ethereum developers and proponents claim that the move would make the network become more environment-friendly and scalable. Open / Comment

2022-09-14 18:00:11 ​Join our Testnet team for September Season 2 of FirepotSwap Testing!

In preparation for the September 15th launch of the very first DEX and DeFi platform on the Ambrosus L1 blockchain, the final round of open testing is starting today

You can now bridge over liquidity to the AMB Testnet from Ropsten ETH and the Test BNB Chain, swap funds, provide liquidity and stake your LP tokens, with much more to come in the following months
This Testnet season heralds exciting rewards and the even more exciting launch for FirepotSwap, AirDAO, and the first of its kind, fully integrated airdao.io website for catering to all your DeFi needs.

To participate, join the Firepot Telegram and Discord servers
https://bit.ly/DFirepot
https://bit.ly/TFirepot Open / Comment