Cryptocurrency News by Tradecoind2

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RWA is taking over crypto​

Michael Hsu, the acting U.S. Comptroller of the Currency, said Tuesday that he has seen interest in cryptocurrencies drop while curiosity about tokenization is growing.

After speaking with financial institutions, technology companies and other regulators globally over the past few years, Hsu, who describes himself as a cryptocurrency critic, said he noticed many concerns. What is the difference between cryptocurrency and the tokenization of real-world assets? According to Hsu, the cryptocurrency world is primarily retail-focused and “remains rife with fraud, scams, and hacks.”

“It tends to be driven by the hope of speculative profits,” Hsu said Tuesday at DC Fintech Week. “That seems to be the main fuel and interest in crypto is the ability to make some money by investing in X, Y or Z.”

The cryptocurrency industry has suffered some serious blows over the years, including the collapse of algorithmic stablecoin Terra, crypto exchange FTX, and other crypto companies. The sector also faces ongoing regulatory scrutiny as agencies voice concerns about the potential for fraud.

‘Solve a real problem’​

Tokenization, on the other hand, focuses on “solving a real problem” such as payments, Hsu said, noting it can simplify fees and friction during the transaction process.

“When I talk to people, interest in tokenization is growing because it solves a problem, and there is less and less interest in cryptocurrencies.”

His statement Tuesday was largely consistent with comments he made in June.

“Some have estimated that tokenizing real-world assets could save 35-65% across the payments value chain, such as cost savings of up to $5 billion on equity-post transactions . Tokenization of fiat currencies for cross-border payments also promises to reduce friction, costs and delays. The important thing is that tokenization requires no decentralization and trustlessness .”

Source:

RWA is taking over crypto - TRADECOIN D2 (BETA)

Michael Hsu, the acting U.S. Comptroller of the Currency, said Tuesday that he has seen interest in cryptocurrencies drop while curiosity about tokenization

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India busts $300 million crypto scam: 8 new arrests, 1,000 police involved​

In the ongoing investigation into a $300 million cryptocurrency scam in India, local authorities have made eight new arrests, further exposing the fraud network that ensnared an estimated 100,000 victims. core. The ongoing scandal has sent shockwaves across the country, as it now involves not only the alleged fraudsters but also law enforcement officials.

https://twitter.com/i/web/status/1721724487106998783

The complex scam, centered on Himachal Pradesh, was discovered in late September, with authorities suspecting it may have started as early as 2018. Fraudsters lured victims potential with the opportunity to invest in a local cryptocurrency called Korvio Coin (KRO coin). There are a number of other cryptocurrencies that have been used through scam websites, with at least one case of “rug pulling” where a cryptocurrency project was canceled after investors had purchased token.

What is especially surprising in this case is the involvement of police officers, including four recently arrested officers. According to the findings of the Special Investigation Team (SIT), victims of this scheme included 5,000 government officials and about 1,000 police officers.


The apparent legality of this scam was bolstered by police involvement. More than 1,000 police officers were caught up in this conspiracy; some were cheated, while others profited significantly. What is amazing is that some people even volunteer and become promoters of scam cryptocurrencies, which further complicates the problem.

The scam in Himachal Pradesh was investigated for more than two years, during which time around 56 complaints were lodged with the local police station. The investigation was extended to multiple agencies, including the Enforcement Directorate, in coordination with regional police teams. The extensive investigation, led by the SIT, was intensified with dozens of searches conducted in late October, leading to the discovery of some 250,000 identification cards linked to the suspects.

The seriousness of this fraud is clearly demonstrated by the significant profits obtained by those involved. Investigations uncovered more than 100 individuals who allegedly profited $240,000 each from the scheme, while another 200 people allegedly made about $120,000 each.

While a total of 18 arrests have been made so far, the alleged mastermind, Subhash Sharma, is yet to be arrested. Authorities have identified and confiscated several assets linked to Sharma as part of an ongoing effort to hold the villain accountable to justice.

The unraveling of this $300 million cryptocurrency scam has revealed the deep complexity of the case, with its far-reaching impact on government officials, law enforcement officers, and countless victims.

Source:

India busts $300 million crypto scam: 8 new arrests, 1,000 police involved - TRADECOIN D2 (BETA)

In the ongoing investigation into a $300 million cryptocurrency scam in India, local authorities have made eight new arrests, further exposing the fraud

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Nil Foundation introduces zkSharding to Ethereum
Ethereum Scaling Solution Generator = nil; The Foundation introduced zkSharding to Ethereum, aiming to achieve faster transaction speeds while maintaining the security that is Ethereum’s advantage.

Sharding, unlike other popular scaling solutions, is designed to split the Ethereum network into different parts and process transactions in a cheaper, more efficient way.

ZkSharding uses zero-knowledge (zk) technology to create proofs, ensuring that transactions are valid across different Layer-2 shards before being sent to the Ethereum mainnet. The larger the sub-shard, the higher the maximum throughput on Ethereum.

This technique should not be confused with Proto-Danksharding, which refers to Ethereum Improvement Proposal (EIP) 4844 and whose main purpose is to reduce transaction costs for zk rollups by storing them in data blobs temporarily, according to Misha Komarov, CEO and co-founder of =nil;.
All zk rollups can benefit from Proto-Danksharding, but only applications built on =nil; can benefit from zkSharding. Komarov noted that data-intensive and high-load environments will be able to benefit the most from zkSharding.

“Is a zk rollup, =nil; benefits from Proto-Danksharding which reduces fees for storing transactions on Ethereum, however zkSharding as a scaling concept addresses the fragmentation of liquidity and economic security,” said Komarov.

Komarov said that ZkSharding represents a combination of modular and monolithic blockchain architecture, and provides a suitable solution based on its features in a competitive Layer-2 environment.

“We believe zkSharding addresses the drawbacks common to other alternatives on the market, by design, with application-specific scaling capabilities.”

Specifically, Komarov noted that applications built on other zk rollups can only interact with liquidity or data that has been migrated to its specific zk rollup environment, limiting market efficiency and incur costs and assumptions through bridges for interoperability.

“zkSharding introduces separate shards as dedicated Execution Layers that are fully composable, meaning one transaction can trigger the creation of new transactions on other shards,” Komarov said. clearly.

However, these goals are familiar from other zk-based scaling approaches, such as that of zkSync.

Source:

Nil Foundation introduces zkSharding to Ethereum - TRADECOIN D2 (BETA)

Ethereum Scaling Solution Generator = nil; The Foundation introduced zkSharding to Ethereum, aiming to achieve faster transaction speeds while maintaining the

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Bitcoin antifan Nouriel Roubini launches own token – Changpeng Zhao sarcastically “shameless”​

For years, economist Nouriel Roubini has been one of the most outspoken critics of cryptocurrencies. He called Bitcoin a “shitcoin,” mocked Ethereum as a worthless currency, and even dismissed blockchain technology as a whole as “no better than a spreadsheet.”

Now, in a coup as old as time, Roubini is launching his own cryptocurrency. Hearing this news, Binance co-founder and CEO Changpeng Zhao scoffed.

“Some people are shameless.”


Zhao, the richest person in the crypto world, seems to be not only disgruntled about Roubini’s change in stance towards cryptocurrencies in general but also towards his comments regarding Binance in particular.

Late last year, right after the collapse of FTX, Roubini – who always had a bad opinion of financial markets and was often called “Dr Doom” – repeatedly criticized Zhao at a live event in Abu Dhabi, labeled the crypto entrepreneur a “walking time bomb.” Roubini said at the time:

“There are seven Cs in cryptocurrency: Concealed, corrupt, crook, criminal, charlatan, carnival barker. and finally CZ”.

Just a few months later, Roubini’s new crypto venture, Atlas Capital, touted the experience of one of its leadership team members at Binance as proof of the new company’s bona fides.

“After publicly lashing out at Binance on stage a year ago, Roubini is now issuing tokens and placing the Binance logo on their website without permission,” Zhao fumed on Twitter, before adding a clown emoji , shrugged and smiled.

Since Zhao first posted this tweet, Atlas Capital has removed the logos of all external companies from its “Team” page, including Binance.

However, the company’s website still claims the company benefits from the “deep experience” of former Binance employees, including Senior Vice President of Product Mayur Kamat, who previously served as Director of Binance. Global product manager under Zhao at Binance.

Source:

Bitcoin antifan Nouriel Roubini launches own token – Changpeng Zhao sarcastically "shameless" - TRADECOIN D2 (BETA)

For years, economist Nouriel Roubini has been one of the most outspoken critics of cryptocurrencies. He called Bitcoin a “shitcoin,” mocked Ethereum as a

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HSBC partners with Ripple Labs subsidiary to launch tokenized securities custody service​

Banking giant HSBC is set to introduce a digital asset custody service for tokenized securities such as bonds on the blockchain. The bank expects to launch this service in 2024.



The service is aimed at institutional investors and will further expand the lender’s offerings in the digital assets sector. The move comes just a week after the bank launched a blockchain platform that allows ownership of tokenized gold.

HSBC’s upcoming capability aims to provide a secure storage solution for tokenized securities, including bonds and other financial products issued on third-party platforms.

However, it is worth noting that the custodial services will not include cryptocurrencies or stablecoins. According to media reports, HSBC maintains a cautious stance towards custody of crypto assets other than tokenized securities, as these assets remain largely unregulated.

TradFi promotes Web3
HSBC has partnered with Ripple Labs subsidiary Metaco to facilitate the new venture. Metaco is a custodial infrastructure company known for its product Harmonize, which provides comprehensive solutions to institutions related to tokens, cryptocurrency custody, and smart contract management.

Harmonize is designed to integrate seamlessly with financial institutions’ existing systems, making it an invaluable tool as distributed ledgers continue to play an increasingly prominent role in capital and mass markets. property area.

HSBC’s push into Web3 is in line with growing demand from asset managers for digital asset custody and fund management services. Many financial industry leaders, including BlackRock CEO Larry Fink, have praised the potential of tokenized securities to improve efficiency and expand access to other financial instruments. together.

Meanwhile, regulators are much more open to the idea of tokenization than they are of cryptocurrencies. Acting OCC Director Michael Hsu said at a conference on November 7 that tokenization holds great promise in solving the long-standing problem of payments.

This trend is especially evident in projects that aim to provide easier access to US Treasury yields, among others.

Metaco is supported by Ripple
Metaco’s partnership with HSBC is the first major customer announcement made by the company after being fully acquired by Ripple Labs in early May.

Metaco currently serves the second largest bank, HSBC, third largest, Citi and fourth largest, BNP Paribas, among the list of systemically important banks globally.

The company’s full list of banking clients includes BBVA, BNP Paribas Securities Services, Citi, DBS, SocGen Forge, Standard Chartered’s Zodia Custody, as well as German banks DekaBank and DZ Bank.


Source:

HSBC partners with Ripple Labs subsidiary to launch tokenized securities custody service - TRADECOIN D2 (BETA)

Banking giant HSBC is set to introduce a digital asset custody service for tokenized securities such as bonds on the blockchain. The bank expects to launch

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Top 3 Cryptocurrencies Under $0.10 Potential for Next Week​

The cryptocurrency market is currently experiencing a significant spike, attracting the attention of investors. While cryptocurrencies like Bitcoin and ETH still stand out with notable achievements, there is growing interest in more affordable alternatives.

For investors with a higher risk tolerance, allocating a portion of their investment capital, between 10% and 20%, to these altcoins can provide attractive opportunities to diversify their portfolio. investment portfolio and earn significant profits in the upcoming bull market. The article will review 3 cryptocurrencies priced under $0.10 to consider.

Shiba Inu (SHIB)​

SHIB is a meme-inspired cryptocurrency introduced in August 2020, using the Shiba Inu dog breed as its mascot.

Created by an anonymous entity called “Ryoshi,” SHIB operates on the Ethereum blockchain and bills itself as an experiment in decentralized community building.

With a total supply of 1 quadrillion tokens, a significant portion of which is locked in decentralized exchanges, SHIB aims to establish a decentralized ecosystem with community participation in its development. and promote.

ShibaSwap, a decentralized exchange affiliated with SHIB, provides a platform for trading this token and other decentralized finance functions. The project also introduced two other tokens, Leash and Bone, each playing a distinct role in the Shiba Inu ecosystem.

However, it is important for potential investors to approach SHIB with caution due to its speculative nature and the inherent risks associated with memecoins in the cryptocurrency market.

The Shiba Inu is generally in a bullish trend, currently slightly down trading at $0.00000903, reflecting a decline of 4.69% over the past 24 hours.
Despite this, the cryptocurrency achieved an overall growth of 9.53% for the week. Sustained buying momentum and a strong 61.01% increase in trading volume to $282,688,671 indicate a solid foundation for Shiba Inu’s ambitious targets, with the potential to shave off yet another zero in the near future.

PEPE​

PEPE has quickly grown in popularity as a memecoin operating on the Ethereum blockchain since its public launch in April 2023.

In a remarkable feat, PEPE achieved a market capitalization exceeding $1 billion in just 3 weeks, a milestone that took DOGE nearly 4 years to achieve. Despite wild price fluctuations, PEPE has attracted a significant and growing community of individual holders.

The original design included a deflation mechanism, burning a small percentage of tokens with each transaction to create scarcity and potentially increase the value of remaining tokens over time.

Pepe Coin implemented a redistribution system at launch, ensuring a portion of every transaction goes to existing token holders.
This mechanism aims to promote user participation and encourage long-term investment. Despite subsequent changes to the project, the status of the redistribution system remains unclear.

Investors should stay informed about such developments and exercise due diligence when considering participating in projects such as PEPE.
PEPE operates with a maximum token supply of 420,690,000,000, of which 93.1% is initially placed in a liquidity pool and the remaining 6.9% is allocated to a multi-signature wallet for future purposes. hybrid.

With memecoin growing in popularity in recent years, Pepe has gained attention. After a 1.3% increase, it trades at $0.0000012 at the time of writing.

The coin’s trading volume increased 163.39% to $396.37 million, accompanied by a 0.37% increase in market capitalization to $556.38 million.
With the eye on another bull run in early 2024, Pepe Coin could serve as a strategic investment for those expecting potential new highs.

Kaspa (KAS)​

Kaspa (KAS) is a growing cryptocurrency claimed to be the fastest, open source, decentralized and fully scalable layer 1 in the world.

Touted as the world’s first blockDAG (Directed Acyclic Graph), Kaspa uses a digital ledger that facilitates parallel blocks and instant transaction confirmations.

This innovative blockchain is built on a powerful PoW engine with extremely fast one-second block times.

Key features of Kaspa include a fair launch without the need for a pre-mine or any pre-allocation, emphasizing community-driven development similar to coins such as Bitcoin, Litecoin or Monero.

Launched on November 7, 2021, Kaspa operates on the kHeavyHash hash algorithm, uses a Proof of Work consensus mechanism and a unique BlockDAG structure.

Supporting multiple platforms such as Windows, OSX, Linux and Raspberry Pi, it has an impressive one-second block time. With a circulating supply of 21.49 billion KAS and a maximum supply of approximately 28.7 billion KAS, Kaspa’s market capitalization stands at $1.9 billion.

Kaspa implements the GHOSTDAG protocol, which differentiates itself from traditional blockchains by allowing parallel blocks to coexist and be ordered by consensus, preventing orphaned blocks.

The Kaspa implementation includes various features and sub-protocols, such as Reachability for querying DAG topology, block data truncation, SPV proofs, and upcoming subnet support, facilitate the deployment of layer 2 solutions in the future. The project’s commitment to innovation and community-driven ethos have established Kaspa as a pioneering force in the cryptocurrency space.

KASPA has recently attracted investors looking for cost-saving opportunities, achieving notable growth of over 2094% last year.

Notably, it is up 75% in the last week, although currently KASPA is trading at $0.08932 with a slight daily gain of 0.53%.

A notable indicator of its growing prominence is the jump in trading volume, reaching $114,934,098.78 in the past 24 hours — a significant 121.5% increase from the previous day. This increase indicates increased market activity and growing confidence in the project.

Source:

Top 3 Cryptocurrencies Under $0.10 Potential for Next Week - TRADECOIN D2 (BETA)

The cryptocurrency market is currently experiencing a significant spike, attracting the attention of investors. While cryptocurrencies like Bitcoin and ETH

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The 236% increase in 0x (ZRX) price is no coincidence, here’s why​

Coin 0x (ZRX) has emerged as a standout performer, with its market capitalization seeing a staggering 238% increase over a 2-month period. The price increase is not just a number, it is a testament to the confidence and patience of 0x holders. Recent data indicates the 0x price has nearly doubled, increasing 89% in just 2 days, signaling strong market activity and soaring investor interest.

The underlying factors contributing to this explosive growth are diverse. Whale trades for ZRX, which are large-scale trades that often exceed $100,000, have hit a 1.5-year high. This level of activity typically reflects significant interest from high net worth individuals or institutional investors, indicating an optimistic outlook for the asset’s future performance.

Another important part is the movement of dormant coins. The average age of 0x investments has dropped significantly, suggesting that older wallets that held their coins are now re-entering the market. The circulation of these older coins could signal increased liquidity and token distribution, potentially leading to a more dynamic and healthy market.

The data provided also shows a notable increase in the number of transactions, with 23 transactions exceeding $100,000 taking place in a single day, the highest recorded in a single day since April 21, 2022. . This impressive trading volume is often a harbinger of a bull run, as it demonstrates both high activity and liquidity.

From a technical analysis standpoint, ZRX’s price chart shows an uptrend with consistent higher highs and higher lows, a pattern that typically indicates a strong uptrend. Trading volume along with increasing prices also confirms the real interest of investors rather than speculative trading.

Source:

The 236% increase in 0x (ZRX) price is no coincidence, here's why - TRADECOIN D2 (BETA)

Coin 0x (ZRX) has emerged as a standout performer, with its market capitalization seeing a staggering 238% increase over a 2-month period. The

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Bithumb is preparing for an IPO on Nasdaq US in 2025​

Bithumb, a Korean cryptocurrency exchange, is attempting the industry’s first initial public offering (IPO). To regain market dominance from Upbit, which is about 85%, and regain the leading position in the market, increasing trust in the company is the most important thing.
On November 12, Bithumb Korea, the operator of Bithumb, said it selected Samsung Securities as the underwriter late last month and began working on the IPO. The target listing date is set for the second half of 2025. First of all, the focus is on listing on KOSDAQ (Korean Securities Dealers Automated Quotations), but it is known that in some cases, there is still a possibility of changing the destination into KOSPI (Korea Composite Stock Price Index).

Bithumb declined to comment on IPO plans but said:

“It is true that we have chosen an underwriter.”

Through this IPO, Bithumb Korea appears to be looking to increase market confidence in its trading operations by improving transparency in governance and management while also receiving external verification of its trading system. its internal control system. This is because the context behind the IPO seems far removed from the fundraising intent. According to Bithumb Korea’s semi-annual report this year, the company holds financial product assets worth more than 400 billion won (~ 7,370,262,884,000 VND). In fact, it will be difficult to regain the market leadership lost to Upbit if confidence cannot increase.

It seems that work on improving the corporate structure has begun following the IPO push. According to an official familiar with Bithumb’s situation, Lee Jeong-hoon, former chairman of the board of directors of Bithumb Korea and Bithumb Holdings, has returned to the Bithumb Holdings board. As former Chairman Lee was appointed as a representative director, Lee Sang-jun, CEO of Bithumb Holdings, who was suspected of soliciting coin listings, was removed from the board. The position of CEO of Bithumb Holdings will be held concurrently by Jaewon Lee, CEO of Bithumb Korea, who is trusted by former Chairman Lee. For the IPO to be successful, former Chairman Lee is expected to strengthen control and begin internal consolidation.


Source:

https://tradecoind2.com/bithumb-is-preparing-for-an-ipo-on-nasdaq-us-in-2025/

 

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This is why Avalanche (AVAX) price is up more than 30% on the day​

In a recent tweet, Emin Gün Sirer, CEO of AVA Labs, the company that powers Avalanche Blockchain, revealed a future where users can seamlessly exchange tokens across different blockchains with just one click. The tweet outlines a vision in which a dedicated aggregator app would facilitate the rapid exchange of X tokens on Ethereum for Y tokens by routing portions of X through Solana and Optimism, ultimately provide users with optimal prices. Sirer emphasized that this capability is a direct result of a strategic decision from AVA Labs to incorporate parallel global state replication into Avalanche’s core design.

“This is not a negative comment about other ecosystems. It is simply a consequence of not having parallel global state replication as a primary design choice. When you design crosschain communication from the ground up, it’s a different story,” Sirer said.

https://twitter.com/i/web/status/1723408833245052949

A key enabler of this vision is Avalanche’s AWM (Avalanche Wire Message), a primitive messaging service deployed at the network layer. AWM allows any subnet in the Avalanche ecosystem to send and verify messages from other subnets or application-specific blockchains, providing a foundation for seamless crosschain communication.

Avalanche’s consensus mechanism, which allows transactions to complete in less than a second, further enhances the efficiency of crosschain swaps. The platform’s P-Chain, the registry of staking validators, uses the Boneh-Lynn-Shacham (BLS) signature scheme to verify messages. This encryption technique aggregates multiple authentication signatures into a single, efficient signature, significantly reducing the time needed to authenticate a message compared to other platforms.

Sirer emphasized that AWM has the potential to provide messaging guarantees in the future. Because AWM operates between subnets in the Avalanche ecosystem, it imposes no additional trust assumptions beyond the security of the subnet and P-Chain.

However, it should be noted that while AWM excels in messaging capabilities, it currently lacks a bridge to facilitate asset transfers. Therefore, AWM is not currently a viable option for handling asset transfers between different blockchains.

This announcement has had a significant impact on the market performance of the AVAX token. At the time of writing, AVAX is up more than 30% in the past 24 hours, trading at $18.69 — an impressive 50% increase in just seven days. The market reaction highlights the potential importance of AVA Labs’ vision for the future of crosschain swaps and its positive impact on the Avalanche ecosystem.

Source:

This is why Avalanche (AVAX) price is up more than 30% on the day - TRADECOIN D2 (BETA)

In a recent tweet, Emin Gün Sirer, CEO of AVA Labs, the company that powers Avalanche Blockchain, revealed a future where users can seamlessly exchange tokens

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Gamefi Token’s valuation increased by $4.5 billion, eclipsing the growth of AI crypto​

Gamefi tokens have recorded notable gains over the past week, with several assets posting double- to triple-digit gains. Coins associated with gaming finance are digital assets used in blockchain-based gaming platforms, either as in-game currencies or for governance purposes, allowing voting on decisions that affect to the development and operation of the game.

Currently, the total value of the top gamefi tokens today is 11.49 billion USD. This valuation represents less than 1% of the total $1.4 trillion crypto economy, or about 0.82%. The largest game token by market capitalization is Internet computer (ICP), valued at approximately $1.9 billion. The value of ICP increased by 8.1% over the past week.

Immutable x (IMX), the second largest gamefi token, saw a 57.7% increase this week, with a valuation of $1.35 billion. The four gamefi tokens that posted triple-digit gains over the seven-day period were Netvrk (NTVRK) up 319%, Planet ix (IXT) up 261%, Sinverse (SIN) up 185%, Sipher (SIPHER) up 109.1 %. Meanwhile, Virtua kolect (TVK) is up 86.3%, Senate (SENATE) is up 71.5% and Illuvium (ILV) is up 56.46% over the past week.

However, there are two gamefi tokens that are underperforming: affyn (FYN) is down 28% and starlink (STARL) is down 11.1%.

Although the appeal of the metaverse and gamefi has diminished compared to the excitement surrounding the artificial intelligence (AI) sector, the leading gamefi token ecosystem is still significantly more valuable than the pre-money token economy AI electronics, currently valued at 3.37 billion USD .


Source:

Gamefi Token's valuation increased by $4.5 billion, eclipsing the growth of AI crypto - TRADECOIN D2 (BETA)

Gamefi tokens have recorded notable gains over the past week, with several assets posting double- to triple-digit gains. Coins associated with gaming finance

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THORChain becomes third largest DEX as RUNE increases 50% in one week​

THORChain trading volume grew significantly last week, recording the third largest among decentralized exchanges as users are attracted by large returns.

Specifically, THORChain transaction volume reached 1.32 billion USD, ranking third only after Uniswap and PancakeSwap with 10.85 billion USD and 2.77 billion USD respectively, according to DefiLlama. THORChain also boasts the second largest trading volume with $334.3 million in the past 24 hours, nearly $50 million more than PancakeSwap.

Meanwhile, the price of the protocol’s native token, RUNE, has also increased 51% in the past week and more than 200% in the past 30 days, according to CoinGecko. At the time of writing, RUNE is trading at 5.23 USD.

THORChain’s rise to Curve Finance happened earlier than THORChain core developer Chad Barraford predicted. He initially estimated the ouster would occur before the end of 2023.

“Okay, this happened faster than I thought. It only took 2 days instead of 2 months,” Barraford emphasized in a post on X (formerly Twitter) on November 13.

https://twitter.com/i/web/status/1723880833658855862

THORChain is considered a multi-chain version of Uniswap because users can swap Bitcoin for Ether. THORSwap is the name of the decentralized exchange powered by the THORChain protocol. The platform offers an average annual percentage rate (APR) of nearly 44%, but some liquidity pools offer much higher APRs, such as Bitcoin and RUNE pairs which have an APR of over 353%.

Bitcoin advocate Erik Voorhees noted that THORChain processed nearly 2%, or $224 million, of total Bitcoin spot trading volume in the 24 hours between November 11 and 12.

“Principled Bitcoiners should familiarize themselves with THORChain. This is the only market that trades Bitcoin at scale without intermediaries… that’s the whole point of Bitcoin.”

https://twitter.com/i/web/status/1723729673744466218

The THORChain project was run by a team of developers at Binance Dexathon in 2018. Most of the project developers’ identities remain confidential.

Source:

THORChain becomes third largest DEX as RUNE increases 50% in one week - TRADECOIN D2 (BETA)

THORChain trading volume grew significantly last week, recording the third largest among decentralized exchanges as users are attracted by large returns.

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Mad Lads NFT hits all-time high as Backpack reveals plans to launch exchange​

Following the recent news that Solana-based NFT wallet app Backpack will launch a cryptocurrency exchange based in Dubai, the company has added former FTX general counsel Can Sun to lead the exchange. And now Backpack’s related NFT project, Solana Mad Lads, has skyrocketed to an all-time high price.



Sun will lead Trek Labs, according to the Wall Street Journal, the Dubai-based startup tied to Backpack and maker Coral. The news comes just weeks after Sun testified in the US government’s fraud trial against FTX co-founder and former CEO Sam Bankman-Fried. Sun cooperated with prosecutors and signed a non-prosecution agreement.

According to the report, Trek Labs aims to sell 10% of the company’s shares to investors at a valuation of over $100 million.


According to the report, Coral co-founder and CEO Armani Ferrante is listed as a minority shareholder of Trek Labs, while his wife Claire Zhang also holds shares. Zhang was previously Sun’s deputy at FTX, while Ferrante himself worked at both Alameda and FTX before founding Coral.

Trek Labs announced in October that it received a Virtual Asset Service Provider license from the Dubai Virtual Asset Regulatory Authority (VARA) to launch a regulated exchange in the country. Sun disclosed its history with FTX during the regulatory application process, according to the Wall Street Journal.

Amid surging prices and demand for NFTs in recent weeks, Coral’s Mad Lads avatar project (PFP) on Solana has surged to an all-time high in US dollars.

The Mad Lads NFT currently has a starting price of 82.37 SOL on the secondary market, which equates to $4,480 USD based on Solana’s current price. This is more than double Mad Lads’ all-time high (USD) before November, as Solana has surged in recent weeks – in the past 30 days alone, it is up 148%, to Current price is over 54 USD.

Trek Labs opened beta registration for the Backpack exchange on Sunday, and it’s exclusive to Mad Lads NFT holders in the first batch. That early access benefit could also spur purchases of Solana NFTs.

Source:

Mad Lads NFT hits all-time high as Backpack reveals plans to launch exchange - TRADECOIN D2 (BETA)

Following the recent news that Solana-based NFT wallet app Backpack will launch a cryptocurrency exchange based in Dubai, the company has added former FTX

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Binance Japan plans to list 13 more tokens, getting closer to the goal of 100​

Binance Japan is expected to list 13 more tokens, bringing the total to 47 – the highest number in the country, according to the exchange’s statement.

The 13 new tokens are Hedera Hashgraph (HBAR), Near Protocol (NEAR), Optimism (OP), Immutable X (IMX), Arbitrum (ARB), The Graph (GRT), Render Token (RNDR), Decentraland (MANA), EOS (EOS), GALA (GALA), ApeCoin (APE), Klaytn (KLAY) and Lisk (LSK), Binance Japan said on Wednesday. The listing of these tokens is scheduled for November 27.

Binance Japan said all 13 tokens have been listed on other registered exchanges in Japan and are classified as tokens eligible for a simplified review process by the self-regulatory body in Japan. , Japan Virtual Asset and Cryptocurrency Exchange Association.
Takeshi Chino, general manager of Binance Japan, said:

“This is another big step towards our ambition of offering 100 tokens in Japan. We will continue to strive to enrich our service offerings in Japan by leveraging our global expertise and leading blockchain ecosystem.”

Binance Japan was launched in August after Binance acquired local licensed cryptocurrency exchange Sakura Exchange BitCoin in November 2022, subsequently changing its name. The move marks Binance’s re-entry into Japan after the country’s financial regulator once again warned the exchange would operate without permission in 2021.

Source:

Binance Japan plans to list 13 more tokens, getting closer to the goal of 100 - TRADECOIN D2 (BETA)

Binance Japan is expected to list 13 more tokens, bringing the total to 47 – the highest number in the country, according to the exchange's statement.

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$2.1 billion stored in old wallets at risk of hacking​

While the crypto community is still overcoming the effects of the recent $100 million Poloniex hack, another cybersecurity threat that could affect billions of dollars worth of cryptocurrencies has emerged. discovered by a team of blockchain security experts.

On November 14, cybersecurity company Unciphered published information about a vulnerability called “ Randstorm ,” which is said to affect millions of cryptocurrency wallets created using web browsers from 2011 to 2015.

According to the company, while attempting to obtain Bitcoin wallets, they discovered a potential issue with wallets created by BitcoinJS and derivative projects. According to the cybersecurity company, this issue could affect millions of wallets and approximately $2.1 billion in cryptocurrency.

The company also believes that more blockchains and projects could be affected. In addition to BTC, the company emphasized that Dogecoin, Litecoin, and Zcash wallets may also contain vulnerabilities.

Additionally, the company said millions of people have received warnings about the issue. For those using cryptocurrency wallets created in the 2011 to 2015 timeframe, the company recommends transferring their assets to a more recently created wallet. It reads:

“If you are an individual who created a self-custodial wallet using a web browser before 2016, you should consider transferring your funds to a more recently created wallet created by trusted software.”

While the company said not all wallets are affected equally, it also confirmed that the vulnerability can be exploited. However, the company did not provide any details about exploiting the vulnerability to avoid providing further information to bad actors in the space.

Source:

$2.1 billion stored in old wallets at risk of hacking - TRADECOIN D2 (BETA)

While the crypto community is still overcoming the effects of the recent $100 million Poloniex hack, another cybersecurity threat that could affect billions

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Microsoft, Tencent and 16 Web2 giants cooperate with Consensys in the mission to decentralize the Infura network​

Microsoft, Tencent and 16 other Web2 giants have partnered with Consensys on the mission to decentralize the Infura network – the primary access point to Ethereum for much of the decentralized finance (DeFi) sector.

The partnerships aim to increase decentralization on the Infura network — key to preventing outages of Web3 services leveraging the network, including the MetaMask wallet service.

Consensys senior product manager Andrew Breslin said the importance of partnerships is not about “who they are” but about big-name companies aligning with Infura in “wanting decentralize every layer of the blockchain infrastructure.”

Scheduled for launch in Q4, the Decentralized Infura Network (DIN) is a solution to Infrua’s centralization problem, with the network currently controlled by Consensys, meaning there remains a single point of failure.

“The cost and complexity involved in operating a service like Infura limits who we can partner with to serve this traffic. There is now a thriving ecosystem of Web3 infrastructure providers that can provide free services to Infura.”

Breslin said one of the first major features offered in DIN is “failover support” for the Ethereum and Polygon networks. Failover support means traffic can be rerouted to one or more DIN partners during an outage, ensuring higher operating speeds over the long term.

According to Breslin, when launched, DIN will enable more trustworthy and censorship-resistant access to Ethereum as decentralized applications (DApps) will not need to rely on a single service provider in one place.

Developed by blockchain software giant Consensys, Infura offers a development kit that provides API access to the Ethereum and IPFS networks. Currently, Infura is the access point for most DApps to access real-time online data from the Ethereum blockchain.

In November 2020, centralization issues were exposed when the MetaMask wallet went down due to Infura experiencing a temporary outage. Several centralized exchanges and DeFi projects were also affected by the downtime.

Decentralizing blockchain data providers on the Infura network is important to resist censorship over the long term because currently, centralized data providers can be shut down with a single attack. well-planned public or adequate legal action.

Breslin said the current lineup is not a closed set, and Infura wants to let other “highly reliable” internet infrastructure providers know that Infura is open to them joining DIN as well.

“DIN’s success depends on us partnering with more and more operators over time.”

The group of new companies is partnering with Infura during DIN’s “association phase” – a temporary testing period during which the network remains centralized.

“Infura and these 18 partners are now participating in the DIN association phase, which means we work as equal partners.”
Going forward, Breslin said DIN would ideally be governed as a decentralized autonomous organization or some other type of governance structure that would ensure each partner has a democratically weighted say over the network net.

Source:

Microsoft, Tencent and 16 Web2 giants cooperate with Consensys in the mission to decentralize the Infura network - TRADECOIN D2 (BETA)

Microsoft, Tencent and 16 other Web2 giants have partnered with Consensys on the mission to decentralize the Infura network – the primary access point to

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Former Polygon Labs President Ryan Wyatt joins Optimism​

In a strategic move that has made waves in the blockchain and cryptocurrency community, former Polygon Labs president Ryan Wyatt recently took on the role of Chief Growth Officer at Optimism. Optimism is a leading company actively developing the Ethereum layer 2 OP Mainnet scaling protocol.

This process marks a significant change for Wyatt. He decided to leave his consulting position at Polygon to join Optimism. Despite this, Wyatt remains committed to his responsibilities on the Board of Directors of the non-profit organization Gamers Outreach and as a venture partner at venture capital firm Bitkraft.

https://twitter.com/i/web/status/1724222316006035740

As the newly appointed Chief Growth Officer, Wyatt will play a key role in expanding the Optimism ecosystem. His duties include collaborating with developers, strengthening partnerships, and coordinating with external contributors to continue the growth and development of Optimism’s offerings. Notably, Wyatt expressed particular excitement about Optimism’s Superchain, a groundbreaking layer 2 network chain designed to share security, communication layers, and open source development stacks.

In an exclusive statement, Wyatt shared his enthusiasm for the new position:
“We’re at a point now where we’re finally starting to solve this big infrastructure problem, and Superchain does that. So it will be fun.”
He emphasized the unique personal opportunity here, highlighting the excitement the position brought as it was new to his career.

The move follows Wyatt’s tenure at Polygon from February 2022 and plays a key role in expanding the platform’s reach across various sectors, including gaming, fashion, entertainment , news and sports. His departure from Polygon represents a shift in strategy, shifting to focus on innovative developments in the Ethereum layer 2 scaling protocol space.

The decision to join Optimism underscores the growing importance of experienced and visionary leaders in the blockchain industry. Wyatt’s track record in expanding Polygon’s presence across a variety of sectors positions him well to contribute to the growth and success of Optimism’s ambitious projects.

As Chief Growth Officer, Wyatt is tasked with steering Optimism toward new heights, leveraging his extensive experience in the industry to drive innovation, collaboration and strategic partnerships. The crypto community will certainly be watching closely to see how Wyatt’s influence shapes the future of Optimism and their ambitious Superchain project.

Source:

Former Polygon Labs President Ryan Wyatt joins Optimism - TRADECOIN D2 (BETA)

In a strategic move that has made waves in the blockchain and cryptocurrency community, former Polygon Labs president Ryan Wyatt recently took on the role of

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Jupiter offers an airdrop to early adopters next week​

Jupiter, the largest decentralized exchange (DEX) aggregator on Solana by swap volume, has announced the Retroactive Airdrop program – an event that distributes governance tokens to users who have used and supported Project support in the early days from trading or liquidity provision.

The airdrop is part of a community-focused initiative to distribute 4 billion tokens (40% of supply) of Jupiter to users in four phases, Meow’s founder announced on X.

Starting next week, the first phase will release 1 billion Jupiter tokens to users who have swapped a minimum volume of 1,000 USD, with 955,000 wallets eligible after the snapshot on November 2. The airdrop has different levels of rewards based on the user’s swap volume. The team clarified that future airdrops will reward new users.

The Jupiter token allocation website will go live next week, allowing anyone to verify their allocation amount and other pertinent details.

Jupiter consolidates liquidity from multiple DEXs on Solana, ensuring users find the most favorable price for their token swaps. The platform was developed by a team of well-known developers in the industry in October 2021.

Currently, the Jupiter DEX aggregator is one of the prominent projects on Solana, with a trading volume of nearly $1 billion in October.

 

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The AI race heats up as Microsoft launches a new chip in partnership with OpenAI​

Microsoft unveiled a new chip designed for use in artificial intelligence (AI) applications in a November 15 post .

The company said it unveiled the chip called Azure Maia 100 AI Accelerator at the Microsoft Ignite conference taking place on the same day. They say the Maia 100 chip is optimized for use in artificial intelligence applications, including general AI.

Microsoft’s blog post also quoted OpenAI CEO Sam Altman, who said that his company – famous for ChatGPT – contributed to the chip’s design.

“Since our first partnership with Microsoft, we have collaborated to co-design Azure’s AI infrastructure at every layer… We are excited that Microsoft is sharing their design for the Maia chip for the first time and together we refined and tested it with our models.”

Altman added that Azure’s architecture is “now optimized for silicon with Maia.” He says this improvement will lead to more capable and more accessible AI models. OpenAI has paused paid subscriptions due to high demand.

In a separate interview with CNBC, Microsoft Corporate Vice President of Azure Hardware Systems Rani Borkar said Microsoft is currently testing how Maia 100 works with the Bing AI chatbot and the GitHub Copilot coding assistant. It is also testing the chip’s ability to power OpenAI’s GPT-3.5 Turbo large language model (LLM).

Microsoft also announced the Azure Cobalt CPU Cobalt 100 Arm chip, for general-purpose computing in the cloud. The company said both chips will be introduced in early 2024 in its own data centers.

AI race​

In addition to Microsoft, several other industry heavyweights are also making strides in developing AI chips. Nvidia is currently leading the way with its H100 Tensor Core GPU chip, which is widely used in the AI industry.

In fact, Microsoft said in its latest blog post that it is developing industry partnerships to give customers access to Nvidia’s H100 chip and its upcoming H200 chip. Meanwhile, CNBC believes that Maia will compete with the H100 chip.

The lack of supply and demand in the market presents a significant opportunity for other technology companies to increase their chip production. Reports in October said OpenAI could begin in-house chip production. Meta announced details about its next generation of AI chips in May. Google in August announced a chip called Cloud TPUv5e for use in AI.

Source:

The AI race heats up as Microsoft launches a new chip in partnership with OpenAI - TRADECOIN D2 (BETA)

Microsoft unveiled a new chip designed for use in artificial intelligence (AI) applications in a November 15 post .

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Altcoins are getting stronger despite the dominance of Bitcoin​

Total cryptocurrency market capitalization decreased by 2.3% on the day. However, it made more than $300 billion in the past month and held on to those gains.

Altcoin market dynamics​

On November 17, analyst CryptoCon observed that altcoins are getting stronger despite the big moves made by Bitcoin. They stated:
“This is clearly demonstrated by both the altcoin’s upward trend in strength and its break above the 50-week SMA (simple moving average) barrier.”

In previous market cycles, such as 2016 and 2017, strong bullish price action occurred after this technical indicator was crossed.

However, the crossover has come a bit early in this cycle, as is usually expected next year.

The analyst added that “stronger Bitcoin and altcoin price action like 2016 – 2017 and less nonsense than 2020” is expected.

However, analyst Jelle pointed out things are still very early for altcoins as the total altcoin market capitalization has yet to break out of the accumulation range.

Analyst Mustache highlighted the “Supertrend Indicator” in a November 17 post about altcoins. The indicator has switched to a buy signal for altcoins, which it did before previous bull markets.

Crypto influencer and Cardano advocate Dan Gambardello offered another bullish angle on the altcoin:

“Did you know Blackrock knows altcoins are decreasing Bitcoin dominance and they have openly admitted it in their filings?”

Bitcoin is the market leader that makes the first move when the cycle turns. It was then followed by Ethereum and other high-cap altcoins before the rest of the altcoin market typically lagged behind.

Cryptocurrency market​

Overall, it’s still early days for altcoins, but things are starting to wake up.

However, total capitalization fell to $1.43 trillion in the past 24 hours as the cooling-off period began.

However, not all altcoins are in the red, DOGE bucks the trend with a 4.63% increase. AVAX exploded today, pumping 18% to a high of $24, while Kaspa (KAS) gained 20% on the day.

The biggest altcoin losers were SOL (10%), LINK (8.23%), and MATIC down 9.62% on the day.

Source:

Altcoins are getting stronger despite the dominance of Bitcoin - TRADECOIN D2 (BETA)

Total cryptocurrency market capitalization decreased by 2.3% on the day. However, it made more than $300 billion in the past month and held on to those gains.

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This AI token increased 421% in 30 days, entering the top 50​

Bittensor (TAO), an AI-focused cryptocurrency that markets itself as a “peer-to-peer smart marketplace,” is making waves in the hot trending altcoin segment.

Its price almost quintupled in less than 30 days due to the excitement surrounding the AI cryptocurrency.

As of press time, the price of TAO, the core native asset of the Bittensor platform, has reached an all-time high of $239.35 on major spot exchanges. In the past 30 days, TAO price has increased by more than 421%. The price rally accelerated yesterday: In 24 hours, TAO price increased by 37%.

As a result, on the CoinGecko tracker, Bittensor (TAO) has become the largest AI cryptocurrency, surpassing Render Network (RNDR), the undisputed segment leader in recent months.

Developed by the Opentensor Foundation, the Bittensor (TAO) protocol highlights the need for decentralization in the AI segment, against the centralized heavyweights of the emerging sector.

As an open source AI protocol, Bittensor (TAO) was launched by former Google developer Jacob Steeves on September 19, 2023.

Source:

This AI token increased 421% in 30 days, entering the top 50 - TRADECOIN D2 (BETA)

Bittensor (TAO), an AI-focused cryptocurrency that markets itself as a “peer-to-peer smart marketplace,” is making waves in the hot trending altcoin segment.

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