Day: January 22, 2022

FLUF World and Snoop Dogg fundraise, Adidas and Prada NFTs, WAX gifts 10M NFTs

Ornella Hernández

There was so much Nifty News this week that a second round-up was necessary to catch up on the latest nonfungible token (NFT)-related news. FLUF World and Snoop Dog partner for charity  FLUF World, Beyond VR studio and Snoop Dogg teamed up to raised over $1 million via a one-day charity NFT auction on behalf of the Kiwi nonprofit organization Auckland City Mission. Seven FLUF World NFTs were paired with seven limited-edition Snoop Dogg-themed Burrows designed by Beyond and sold on OpenSea. The partnership with the rapper included a 500…

Bitcoin records all-time high network difficulty amid price fluctuations

Arijit Sarkar

The Bitcoin network difficulty is determined by the overall computational power, which co-relates to the difficulty in confirming transactions and mining BTC. As evidenced by the blockchain.com data, the network difficulty saw a downfall between May and July 2021 due to various reasons including a blanket ban on crypto mining from China. The Bitcoin (BTC) network has recorded a new all-time high mining difficulty of 26.643 trillion with an average hash rate of 190.71 exahash per second (EH/s) — signaling strong community support despite an ongoing bear market. BTC network…

Decentralized and traditional finance tried to destroy each other but failed

Alex Axelrod

The year 2022 is here, and banks and the traditional banking system remain alive despite decades of threatening predictions made by crypto enthusiasts. The only endgame that happened— a new Ethereum 2.0 roadmap that Vitalik Buterin posted at the end of last year.  Even though with this roadmap the crypto industry would change for the better, 2021 showed us that crypto didn’t destroy or damage the central banks just like traditional banking didn’t kill crypto. Why? To be fair, the fight between the two was equivalently brutal on both sides.…

Proof of alignment. What we’ve already done to align… | by Coinbase | Jan, 2022

Coinbase

What we’ve already done to align ourselves with our customers, and what we’re doing next. By Paul Grewal, Chief Legal Officer Coinbase is committed to providing a fair, transparent and equal experience across our suite of trading products. We take a number of steps to ensure this, including: We do not coordinate asset listing decisions with anyone not directly involved with our review and listing process. This includes members of our management team that do not sit on our asset listing committee (the majority of Coinbase’s leadership team does not…

Bearish chart pattern hints at $70 Solana (SOL) price before a possible oversold bounce

Yashu Gola

Solana (SOL) price may fall to $70 a token in the coming weeks as a head and shoulders setup emerged on the daily timeframe and possibly points toward a 45%+ decline. The chart below shows that SOL price rallied to nearly $217 in September 2021, dropped to a support level near $134 and then moved to establish a new record high of $260 in November 2021. Earlier this week, the price fell back to test the same $134-support level before breaking to a 2022 low at $87.73. SOL/USD weekly price chart…

What are flash loans in DeFi?

Cointelegraph By Marcel Deer

Similar to traditional loans, flash loans are expected to be paid back in full eventually. However, there are also marked differences. In typical lending processes, a borrower loans money from a lender. The amount is expected to be paid back in full eventually, with interest, depending on the terms discussed between the lender and the borrower.  Flash loans operate on a similar framework but have some unique terms and premises: Use of smart contracts A smart contract is a tool used in most blockchains to ensure that funds do not…

Animoca Brands doubles valuation to $5B, OpenSea tops $3.5B in Jan volume, Microsoft eyes metaverse gaming: Hodler’s Digest, Jan 16-22

Cointelegraph By Editorial Staff

Coming every Saturday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link. Top Stories This Week NFT-focused Animoca Brands valued at $5B following $358M raise NFT and virtual property-focused firm Animoca Brands secured $358 million worth of funding earlier this week at a valuation of $5 billion.  The company said the fresh funds will go towards financing strategic acquisitions and investments,…

3 possible reasons why Polkadot is playing second fiddle in the L1 race

Jordan Finneseth

2021 was a sort of “coming-of-age” for many layer-one (L1) blockchain protocols because the growth of decentralized finance (DeFi) and nonfungible tokens (NFTs) forced users to look for solutions outside of the Ethereum (ETH) network where high fees and network congestion continued to be barriers for many. Protocols like Fantom (FTM), Avalanche (AVAX) and Cosmos (ATOM) saw their token values rise and ecosystems flourished as 2021 came to a close. Meanwhile, popular projects like Polkadot (DOT) underperformed, comparatively speaking, despite the high expectations many had for the sharded multi-chain protocol.…

With Bitcoin and Ethereum Price Crashing, This Web3 Coin Gained Over 1800% Today – The VR Soldier

Anthony B

This weekend, the markets are incredibly depressing, with Bitcoin and Ethereum continuing their sharp decline. On the bright side, a recently released Web3 coin called Pmail gained over 1800% in the past 24-hours. Let’s look at this Web3 coin and see why the price is rising? What Is Pmail (PML)? Launched on January 20th, Pmail Network describes itself as the first NFT Mail application based on Web3. Pmail Network utilizes Dfinity’s technology and looks to serve as a primary portal to the blockchain world. Pmail is looking to empower its…

How should DeFi be regulated? A European approach to decentralization

Thibault Verbiest

Decentralized finance, known as DeFi, is a new use of blockchain technology that is growing rapidly, with over $237 billion in value locked up in DeFi projects as of January 2022. Regulators are aware of this phenomenon and are beginning to act to regulate it. In this article, we briefly review the fundamentals and risks of DeFi before presenting the regulatory context. The fundamentals of DeFi DeFi is a set of alternative financial systems based on the blockchain that allows for more advanced financial operations than the simple transfer of…