DeFi & Ethereum News

2023-05-11 22:26:03 $SPONGE
The Krabby Patty of Memecoins!
Missed $PEPE? Get Sponge and Absorb the Damp!

FEATURES:
Faster growth than $PEPE
11,000+ Holders
Liquidity Locked
Contract Renounced
61% Supply Circulating
29% Supply Locked for 2 years
98/99 DEXTscore

Trending On DEXTools
5K Meme contest LIVE
Airdrop LIVE

Listed on:
LBANK - UNISWAP - CoinW - POLONIEX - BTCEX - MEXC Global
Coming on 12th May:
Bitget - Gate.io

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http://tinyurl.com/DEXSPONGE

TOKENOMICS
Name: Spongebob
Ticker: $SPONGE
Max Supply: 40,400,000,000
Tokens Secured By Team Finance

All our links:
- https://sponge.vip/
- http://tinyurl.com/DEXSPONGE
- https://discord.com/invite/mufWAZVEhM
- https://t.me/Spongeoneth
- https://bit.ly/SPONGEMEXC

Article:
- https://bit.ly/SPONGEE Open / Comment

2023-05-11 04:43:02 Crypto Whales Accumulate Millions in Pepecoin as Trading Volume Shifts to Binance

Pepecoin (PEPE) traders remain unfazed by the recent price correction and are adding to their holdings in a move that suggests bullish price action for the tokens in the coming weeks. On-chain analytics tool Lookonchain said on Tuesday that three whales, a colloquial term for holders of large amounts of any tokens, started to accumulate pepe tokens earlier this week amid a nearly 50% price cut.

“3 whales started to buy $PEPE after the price dropped,” Lookonchain said in a tweet. “0x50C1 withdrew 1.4T $PEPE ($2.76M) from #Binance when the price was $0.000002054.” “0x2Baa bought 212B $PEPE($429K) with 223 $ETH($412K) at $0.000001942. 0x3AE8 bought 424B $PEPE($864K) with 450 $ETH($831K) at $0.000001957,” the firm added, pointing to each individual wallet holding. The data further shows trading volumes have shifted from decentralized exchange Uniswap to crypto exchange Binance after the latter listed the tokens in its innovation zone last week.

Source

https://t.me/DeFi_Ethereum Open / Comment

2023-05-10 05:07:02 Digital Asset Will Start Global Blockchain Network With Deloitte, Goldman Sachs and Others

Financial technology company Digital Asset will start a privacy-enabled interoperable blockchain network designed to provide a decentralized infrastructure for institutional clients, the firm announced on Tuesday. Participants of the network, which is called the Canton Network, include BNP Paribas (BNP), Deloitte, Cboe Global Markets (CBOE), Goldman Sachs (GS), Broadridge (BR), S&P Global, and Microsoft (MSFT), among many others.

“The Canton Network is a powerful answer to industry calls for a solution that harnesses the potential of blockchain while preserving fundamental privacy requirements for institutional finance,” Chris Zuehlke, partner at DRW and global head of Cumberland, another participant, said. “This unique approach, coupled with the ability to execute an atomic transaction across multiple smart contracts, is the building block needed to bring these workflows on chain.” The network connects applications built with Daml, Digital Asset’s smart-contract language, allowing various systems in financial markets to interoperate and synchronize.

Source

https://t.me/DeFi_Ethereum Open / Comment

2023-05-09 04:22:02 Web3 Firm Artifact Labs Raises $3.25M From Blue Pool Capital, Animoca, Others

Artifact Labs, a Web3 company that works to preserve records of historical events on the blockchain, has closed a $3.25 million funding round. The round was led by Blue Pool Capital, with Animoca Ventures also participating. Blue Pool Capital, is a fund that principally invests the wealth of Alibaba founders Jack Ma and Joe Tsai. Artifact Labs said in the release it plans to utilize the funds to expand the company's operations.

Artifact Labs was initially incubated by Hong Kong’s South China Morning Post (SCMP). In 2021 the SCMP launched a non-fungible token (NFT) standard called ARTIFACT for recording historical data. Throughout 2021 and 2022, the newspaper had a brisk business of selling NFTs of its historical front pages, including the handover of Hong Kong to China in 1997, the Avian flu outbreak, the Asian Financial Crisis, and the death of the U.K.'s Princess Diana. Artifact Labs said in a release that it will be releasing NFT collections as a revenue stream for preservation organizations as well as developing and releasing technology to help institutions preserve their archives on-chain.

Source

https://t.me/DeFi_Ethereum Open / Comment

2023-05-08 10:51:02 Circle USDC Continues Circulation Fall After March Crisis

Circle has enough reserves in its treasury to support its stablecoin USDC. Notwithstanding the belief in its stablecoin, USDC underperformed. According to official data, in the past 7 days, Circle issued a total of $600 million in USDC and redeemed $1 billion in USDC, and the circulation decreased by about $400 million. As of May 4, the total circulation of USDC was $30.1 billion, and the reserve was $30.2 billion.

USDC’s substantial reserves, which include a large amount in short-term US Treasury bonds, may help reassure consumers that their holdings are backed by dependable and safe assets. Circle generated 140 million USDC yesterday and transferred it to Coinbase on behalf of a significant buyer, according to blockchain intelligence firm Arkham. USDC Coin was the most troubled stablecoin when its Silicon Valley Bank (SVB) holdings failed. Notwithstanding the challenges that USDC has experienced, Circle, the stablecoin’s issuer, has continued to profit from its development. US government acts quickly and offers more clarification on the stablecoin area, the market may improve.

Source

https://t.me/DeFi_Ethereum Open / Comment

2023-05-07 11:44:02 DOJ investigating whether Binance violated U.S. sanctions against Russia: Bloomberg

The Justice Department is investigating whether crypto exchange giant Binance was used to let Russians evade U.S. sanctions, Bloomberg reported. The probe into the world’s largest crypto exchange is tied to Russia’s invasion of Ukraine. The Justice Department’s national security division is leading the investigation, which is running in parallel to another inquiry by the agency’s criminal division.

“In 2021, Binance launched an initiative to completely overhaul its corporate governance structure, including bringing in a world-class bench of seasoned executives to fundamentally change how Binance operates globally,” Binance said in a statement to Bloomberg. “Our policy imposes a zero-tolerance approach to double registrations, anonymous identities, and obscure sources of money.” Binance messages included in the CFTC complaint show that Binance executives discussed transactions by the U.S.-designated terrorist organization Hamas on the exchange in 2019, for example. Binance officers even acknowledged some of their customers are “here for crime” on the platform, but said, “we see the bad, but we close 2 eyes.”

Source

https://t.me/DeFi_Ethereum Open / Comment

2023-05-06 04:50:02 Bitcoin’s Frenzy of Activity Pushes Average Transaction Fee Over $7, Nearly 2-Year High

Bitcoin blockchain involving Ethereum-style tokens and non-fungible token (NFT)-like “inscriptions” has driven up congestion on the network, pushing the average fee rate to the highest in nearly two years while showering miners of the cryptocurrency with extra revenue. For comparison, the rate so far this year had fluctuated between roughly 50 cents and $4, data from BitInfoCharts shows.

Bitcoin’s total transaction fees, which are paid by users to miners, jumped to around 124 BTC or roughly $3.5 million, on May 3, representing a 484% increase in the past 14 days. “This current fee spree is an anomaly,” wrote Colin Harper, head of content at Luxor Technologies, a full-stack Bitcoin mining pool. BRC-20 (a play on Ethereum’s ERC-20 token standard), which facilitates the issue and transfer of fungible tokens on the Bitcoin blockchain, has accounted for about 6% of all Bitcoin activity since its inception in early March, according to pseudonymous analyst and yield farmer Dynamo DeFi. This year has also seen the rise of Ordinals inscriptions, which are similar to NFTs.

Source

https://t.me/DeFi_Ethereum Open / Comment

2023-05-05 04:42:02 Coinbase Ventures Backs $10M ZkLink Raise Ahead of Mainnet Launch

ZkLink, an infrastructure layer that makes it easier to trade assets across blockchains, raised $10 million in a strategic funding round from a lineup of investors that included the venture capital arm of crypto exchange Coinbase (COIN). The fundraise will help drive zkLink towards its mainnet launch in the third quarter. Crypto venture capital funding rode the bull market of 2021 off a cliff as the bear market and post-scandal turbulence hit.

The race to launch zk-based technology has started to intensify. Polygon and Matter Labs announced in March the mainnet launch of dueling zk-EVM (Ethereum Virtual Machine) offerings within days of each other. For zkLink, the company will launch a community campaign called “Odyssey” and the “Dunkirk” asset withdrawal test ahead of its own mainnet launch. Still, infrastructure projects proved to be resilient, and noted venture capital firm Andreessen Horowitz highlighted the promise of zero-knowledge (zk) technology in its recent annual report on the crypto industry.

Source

https://t.me/DeFi_Ethereum Open / Comment

2023-05-04 04:37:02 Biden administration reiterates desire for 30% tax on Bitcoin miners' electricity usage

U.S. President Joe Biden's administration reiterated that it wants all crypto mining operations to pay a new tax priced at 30% of their electricity costs. Proof-of-work crypto mining — which is overwhelmingly dominated by Bitcoin mining — is controversial because it uses vast amounts of electricity to compute and verify transactions on the blockchain. Bitcoin now uses more electricity than Finland, Belgium or the Philippines, according to Digiconomist.

The computational effort involved in mining can be substantial and can therefore require a correspondingly large amount of energy. The increase in energy consumption attributable to the growth of digital asset mining has negative environmental effects and can have environmental justice implications as well as increase energy prices for those that share an electricity grid with digital asset miners. Digital asset mining also creates uncertainty and risks to local utilities and communities, as mining activity is highly variable and highly mobile. An excise tax on electricity usage by digital asset miners could reduce mining activity along with its associated environmental impacts and other harms. Biden's proposals may struggle to make it into law.

Source

https://t.me/DeFi_Ethereum Open / Comment

2023-05-03 05:21:02 Decentralized Exchange Maverick Rolls Out Liquidity Incentives for Price Stability

Decentralized exchange (DEX) platform Maverick Protocol has unveiled a novel incentive system that can help stablecoins, ether (ETH) liquid staking derivatives keep their price pegs, the protocol said in a press release on Tuesday. The incentive system allows token issuers such as liquid staking protocols or stablecoin issuers to create so-called “boosted positions,” offering extra rewards to liquidity providers.

Maverick is built around an automated market maker (AMM) algorithm, where traders can swap digital assets without any intermediary in liquidity pools. Token holders can also deploy their assets in the pools to provide liquidity for trading while earning a share of the trading fees. The protocol’s latest upgrade comes as DEXs are fiercely competing to attract traders and traffic onto their platforms as crypto investors seek decentralized trading venues after multiple blowups of centralized marketplaces and increasing regulatory stranglehold. Maverick’s tool is more efficient than existing offerings because it allows token issuers to concentrate reward payouts.

Source

https://t.me/DeFi_Ethereum Open / Comment