Month: June 2022

Bank of America Affirms investor interest hasn’t been frozen despite concerns about the crypto winter.

Peter Olaoluwapo

According to research released by Bank of America (BAC) on Tuesday, following its Web3 & Digital Assets Day Conference last week, investor interest in the industry has not been affected by worries of a so-called “crypto winter.” According to the report, discussions with some of the 160 clients who attended the event made it evident that “blockchain technology and the digital asset ecosystem are here to stay,” and the bank is still enthusiastic about the adoption of digital assets by the general public. The bank stated that while recent market…

The Sandbox Partners With Time Magazine to Launch the “Time Square” on the Metaverse

Adewumi Victor

The popular blockchain gaming company, The Sandbox, has joined forces with TIMEpieces, the NFT arm of TIME Magazine. According to the announcement, the partnership’s goal is to reimagine Times Square, the iconic New York City landmark, as a virtual hub for commerce and art in the Metaverse. To consolidate this collaboration, TIME acquired land in The Sandbox. This newly acquired land will house the virtual TIME Square landmark and serve as the platform’s space for virtual experiences as TIMEPieces holders would be able to attend exclusive meetings on the land.…

Ethereum Turns Red, Why ETH Must Hold This Key Support

Aayush Jindal

Ethereum declined below the $1,200 zone against the US Dollar. ETH is now at a risk of more losses if it fails to stay above the $1,150 support zone. Ethereum started a fresh decline from the $1,250 and $1,280 levels. The price is now trading below $1,200 and the 100 hourly simple moving average. There is a major bearish trend line forming with resistance near $1,200 on the hourly chart of ETH/USD (data feed via Kraken). The pair could decline sharply if there is a clear move below the $1,150…

Ethereum Liquidity Provider XCarnival Recovers 50% Of Stolen ETH Through Negotiations

Adewumi Victor

Ethereum ecosystem liquidity provider XCarnical has recovered 1,467 Ether (ETH) just a day after suffering an attack that cost them 3,087 ETH, worth about $3.8 million on their platform. The hack was first noticed by Peckshield, a blockchain investigator, as it came across a stream of transactions that eventually led to 3,087 ETH being stolen from the protocol. The blockchain investigative firm stated, “The hack is made possible by allowing a withdrawn pledged NFT to be still used as the collateral, which the hacker then exploits to drain assets…

Terra’s LUNA2 skyrockets 70% in nine days despite persistent sell-off risks

Yashu Gola

The price of Terra (LUNA2) has recovered sharply nine days after falling to its historic lows of $1.62.  On June 27, LUNA2’s rate reached $2.77 per token, thus chalking up a 70% recovery when measured from the said low. Still, the token traded 77.35% lower than its record high of $12.24, set on May 30. LUNA2’s recovery mirrored similar retracement moves elsewhere in the crypto industry with top crypto assets Bitcoin (BTC) and Ether (ETH) rising by approximately 25% and 45% in the same period. LUNA2/USD four-hour price chart versus…

Are Institutional Investments Fueling Correlation Between Crypto and Stock Markets?

Brian Njuguna

Interest rate hikes and runaway inflation has continued to engulf the investment scene, given that the global economy finds itself on rocky grounds based on factors like the invasion of Ukraine by Russia. To tame rising inflation, various governments have resorted to increasing interest rates, which have had detrimental effects on the financial markets. For example, the Federal Reserve (Fed) raised the interest rate by 75 basis points (bps) earlier this month, a scenario that was last seen in 1994.    Traditionally, institutional investors were heavily inclined toward stocks in…

Solana to Launch New WEB3 Mobile Phone Project

Adewumi Victor

Solana has announced the launch of its new Saga mobile phone that it is developing in collaboration with Osom. This was revealed on June 23 in an announcement made in New York City. The phone is a modified version of the Osom OV1 that was developed by a team of former engineers at Essential. Solana has already started the process of booking preorders for the new device, which is listed at $1000.  Shipping for the new phone is expected to start in the first quarter of 2023. To preorder the…

web3 on the platform of your choice — a closer look at Coinbase Wallet’s multi-platform approach | by Coinbase | Jun, 2022

Aayush Jindal

Tl;dr: The replatforming of Coinbase Wallet’s mobile app reflects our commitment to improving access to web3. In this blog, we discuss why the transition to React Native marks a critical turning point for both our users and our technical teams. By Chintan Turakhia, Director of Coinbase Wallet Engineering, and Dan Coffman, Coinbase Wallet React Native Lead gm This week, we announced the debut of Coinbase Wallet’s new mobile iOS and Android apps built using React Native. This launch marks a critical inflection point for Coinbase Wallet and its users, and…

Coinbase Global redesigns mobile app to make web3 more accessible to users (NASDAQ:COIN)

Anthony B

Leon Neal/Getty Images News Coinbase Global (NASDAQ:COIN) said Wednesday it has redesigned its mobile app to include a new decentralized application (“dapp”) browser allowing its users to more easily search for decentralized finance (“DeFi”) protocols as well as non-fungible tokens. The updated mobile app, which aims to funnel users to the web3 ecosystem, is starting to roll out on Wednesday with more users gaining access in the coming weeks, the crypto exchange said in a release. Specifically, on the browsers’ home screen, there’s a list of suggested ethereum (ETH-USD) dapps…

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