While Chainlink retains a strong lead, Pyth’s rapid rise in total value secured hints at shifting dynamics in the oracle market.
Interest in prediction markets has been growing since the beginning of 2024 in the run-up to the US presidential election.
The introduction of CESR by RedStone could significantly enhance transparency and innovation in Ethereum-based financial products.
The post Blockchain oracle RedStone unveils first on-chain benchmark for Ethereum staking yields appeared first on Crypto Briefing.
The integration of Fabric Cryptography’s Verifiable Processing Units promises faster, more secure transactions on Polygon’s AggLayer.
This week’s Crypto Biz explores several regulatory developments targeting crypto firms, including charges against Uniswap, a delay in a decision on an eco Bitcoin ETF, and a potential challenge to FTX’s repayment plan.
Signaling a potential shift from previous skeptical stance, vice president Kamala Harris is reportedly utilizing Coinbase’s Commerce platform to accept crypto donations for her campaign. Alesia Haas, Coinbase’s Chief Financial Officer, disclosed this information during a discussion at Citi’s 2024 Global TMT Conference in New York, as reported by Fortune. A Shift In Democratic Attitude […]
Bybit launches bbSOL, a liquid staking token on Solana, enabling users to earn staking rewards while maintaining liquidity and maximizing returns.
Trump and his family’s crypto ventures continue to expand as they aim to attract voters through supporting digital assets.
Euler v2's modular design and enhanced lending capabilities could significantly streamline DeFi lending, fostering greater innovation and efficiency.
The post Euler v2 goes live, introduces modular design and enhanced lending capabilities appeared first on Crypto Briefing.
A “decentralized governance” body could decide the fate of frozen USDS if the stablecoin goes ahead with a freeze feature, says Sky co-founder Rune Christensen.
August proved to be one of the toughest months for the crypto market, marked by a significant decline in overall market capitalization, which fell to a six-month low of $1.96 trillion amid what analysts called “Black Monday.” This downturn saw Bitcoin (BTC) plummet from $68,000 to approximately $49,000, igniting concerns among bullish investors. However, market expert Lark Davis suggests that the choppy sideways price action may soon come to an end, paving the way for a potential surge as bullish factors align for the fourth quarter. Final Opportunity To Buy At Discounted Prices? In a recent social media post, Davis highlighted that the coming 3-4 weeks could represent a final opportunity for investors to acquire their favorite cryptocurrencies at discounted prices. Both Bitcoin and Ethereum (ETH) have seen notable declines, with losses of 6.7% and 5.7%, respectively, over the past week. Among the cryptocurrencies that Davis identifies as particularly attractive, Solana (SOL) fits the bill as it is currently trading at around $129, down nearly 16% over the same period. Related Reading: Solana Sees 7,600% Surge In Institutional Inflows, Here’s Why Despite these tempting prospects, historical data shows that September is typically a challenging month for BTC. Analysis shows that in six of the last seven years, Bitcoin has finished September in the red, with an average loss of around 4.5%. If this trend continues, some analysts predict that Bitcoin could fall to around $55,000 by the end of the month. This could have a ripple effect throughout the cryptocurrency market, as other tokens often mirror Bitcoin’s price movements. A Key Catalyst For Crypto Market Recovery Adding to the complexity of the current market landscape are upcoming interest rate decisions that could significantly affect Bitcoin’s short-term volatility and long-term trajectory, as Bitcoinist reported on Monday. Per the report, a potential 25 basis point cut by the Federal Reserve may signal the beginning of an easing cycle, potentially increasing liquidity and promoting long-term price appreciation for Bitcoin. On the other hand, a 50 basis point cut could trigger an initial price spike, followed by a correction as recession fears resurface. Bitfinex’s recent report warns that a rate cut could lead to a 15-20% decline in Bitcoin’s price, with projections suggesting a bottoming out between $40,000 and $50,000. Related Reading: Crypto Analyst Predicts XRP Surge To $18 In Third Elliott Wave Phase Despite the potential for short-term volatility, a notable bullish development could support Davis’s optimistic outlook. The anticipated distribution of $16 billion in cash from FTX to its customers may inject significant capital back into the market. Analysts believe that a significant portion of this payout will likely be reinvested in cryptocurrencies, including Bitcoin and Solana, creating significant buying pressure for the last part of the year. Ultimately, the potential influx of capital from the FTX distribution, combined with the expected cyclical surge in the crypto market in the year of the Bitcoin Halving event, could lead to significant gains for various tokens and an overall increase in market capitalization. Featured image from DALL-E, chart from TradingView.com
The plan would create markets for DAI-replacement USDS on Aave.
Sonic Labs' integration with Chainlink could significantly enhance the development of secure, scalable DeFi applications and blockchain interoperability.
The post Sonic Labs integrates Chainlink CCIP and Data Feeds to boost network capabilities appeared first on Crypto Briefing.
Justin Sun's SunPump community abandons LP token burning in favor of a more transparent, onchain buyback and burn process.
The proposal would effectively transfer control of WBTC to Threshold.
In response to the Biden administration’s intensified scrutiny on the crypto industry, Custodia Bank, a notable Wyoming-based financial institution catering to crypto businesses, has recently undergone a significant restructuring. As reported by FOX Business on Thursday, Custodia Bank has made the decision to lay off nine of its 36 employees, a move aimed at conserving […]
The Trump family has for weeks loudly – but coyly – said they're getting into crypto. More information might finally be coming soon.
As the crypto market approaches a pivotal moment with the upcoming US election in November, former President Donald Trump continues to voice his support with a recent post and the details of his new crypto venture, “World Liberty Financial.” Trump Vows To Make The US A Crypto Capital In a recent video release, Trump articulated […]
OpenSea, one of the largest marketplaces for non-fungible tokens (NFTs), found itself at the center of controversy after the Securities and Exchange Commission (SEC) issued a Wells Notice early Wednesday over the alleged classification of NFTs as “securities.” This prompted reactions from prominent figures in the crypto industry, US senators, and market experts, all of […]
Piers Ridyard, the CEO of RDX Works said the cuts are part of a “more comprehensive set of changes that need to be made.”
Simple “engagement” isn’t enough. Banks need to start experimenting with tokenization and blockchain-powered settlement, or risk getting left behind, says Sygnum Bank’s Lucas Schweiger.
BNB Chain will also create a liquidity pool to allow transfers from other chains as part of its efforts to grow its stablecoin ecosystem.
In a move to broaden access to Bitcoin (BTC) futures for retail investors, CME Group has unveiled a new, smaller-sized futures contract dubbed the “Bitcoin Friday Futures” (BFF). According to Bloomberg, the cash-settled BFF will be priced at one-50th the size of a full BTC, currently around $1,200 per contract. This is significantly more affordable […]
Tokenized treasury products are gaining widespread adoption on blockchain networks.
MakerDAO co-founder Rune Christensen said the feature won't be live when the USDS token goes live and the old DAI token will remain in circulation unchanged.
Self-custodial wallet Okto received its license under RAK DAO, an economic free zone dedicated to virtual assets.
UNI, the native token of Uniswap, one of the top decentralized exchanges (DEXes), is under immense selling pressure. From the daily chart of the UNIUSDT, the token is down 62% from March highs, though prices have stabilized in the past few trading weeks. To put in the numbers, chart data shows that it is up nearly 35% from August lows, absorbing selling pressure. UNI Is Down But Uniswap Generates $50 Million In Revenue So Far Though UNI is far off from all-time highs, shaving nearly 85% from 2021 peaks, other exciting developments might help prices in the long term. Token Terminal data on August 25 shows that the DEX has generated $50 million in revenue so far. Related Reading: Toncoin Tumbles To $4.6 As Bears Eye Further Decline, Will Support Hold? Uniswap allows traders to trustless swap tokens on multiple platforms and blockchains. Originally, it launched on Ethereum in November 2018 before being deployed on the BNB Chain and various layer-2 platforms for Ethereum, including Arbitrum and Optimism. Unlike Binance, which is custodial, Uniswap users only need a non-custodial wallet to connect and swap. All trades are smart contracts-led and without an intermediary. At the same time, there is a broader pool of tokens, some of which are unavailable on top centralized exchanges like Binance. The advantages offered by Uniswap have seen the protocol expand the assets under management to over $4.73 billion, according to DeFiLlama. As of August 26, Uniswap is available on over ten platforms, but the protocol manages over $3.8 billion on Ethereum. Cumulatively, DeFiLlama data has generated over $2.3 billion in fees. All these fees are from swaps on Ethereum and all other platforms. In the last 24 hours, Uniswap has generated over $854,000 in fees. Is The Future Bright, Developers Prepare For V4 As crypto prices expand, it is also highly likely that DeFi activity will rise. Since the recovery from mid-October 2023 to the March 2024 high, DeFi total value locked (TVL) more than doubled. This expansion reflects rising interest and confidence from the community. According to DeFiLlama, DeFi TVL across all networks stood at around $40 billion in October but rose to over $106 billion by March 2024. As DeFi TVL rises, Uniswap will enable more swaps, increasing its fees. Moreover, the DEX will be a go-to platform as it enhances its protocol. Related Reading: XRP Set To Explode? Top Analyst Predicts $33 Rally Earlier this month, Uniswap Labs, which is developing the protocol, announced a $2.35 million prize pool for developers. The fund aims to reward developers who pick out flaws on Uniswap v4 before rollout. Once live, the new version of the DEX will offer new features, including custom oracles and Hooks for even more flexibility. Feature image from Adobe Stock, chart from TradingView
Synthetix faces fierce competition on the DeFi-oriented layer 2.
Synthetix faces fierce competition on the DeFi-oriented layer 2.
Total value locked across the crypto ecosystem is expected to reach an all-time high in the first half of next year, the report said.