Optimism’s OP Token Hits All-Time High as Layer 2 Adoption Interests Grow

Optimism and other layer 2 scaling systems such as Arbitrum are supposed to make transactions on the Ethereum blockchain cheaper and faster. After Ethereum completes its EIP-4844 upgrade, also called proto-danksharding, later this year, it will make transaction fees on layer 2s even “an order of magnitude cheaper,” Marc Arjoon, Ethereum research associate at CoinShares, wrote in a note. Author: Jocelyn Yang Source link

Expected to Play a Key Role in Making Web3 Compliance Seamless, Astra Protocol Launches Native Token – CryptoMode

Astra Protocol, a decentralized KYC platform for Web3, introducing the financial regulatory standards for more than 150 countries and over 300 sanctions to the crypto industry, launched its $ASTRA token on multiple significant exchanges on January 16th, 2023. A fixed supply utility token, with a total of 1 billion minted, the $ASTRA token will work as a unique SAAS (Software as a Service). Platforms will stake the token to access Astra’s KYC services. KuCoin and MEXC, two of the most well-known exchanges in the crypto world, are facilitating trades in…

Solana Blockchain SOL Token Doubles From FTX-Crash-Induced Lows, but Will It Continue to Rebound?

Stefan Rust, CEO of blockchain technology firm Laguna Labs, said Solana has “held the ground solidly” by staying within the top 20 cryptocurrencies by market capitalization post-FTX, while hitting the metrics developers seek, including a project’s “distribution,” “difficulty in using toolsets,” “marketing and visibility” and “money.” He expects SOL’s price to rebound to $30 and even possibly $50 by the end of the year. Author: Jocelyn Yang Source link

This Web3 Game Sees a Resurgence of Interest, Token Jumps 50% in 2 Weeks!

According to information provided (1) by DappRadar, the leading play-to-earn platform Axie Infinity [AXS], has seen a boost in user activity since the beginning of 2023. It coincides with the resurgence of interest in NFTs and the gaming vertical of the crypto currency ecosystem. The user activity in the play-to-earn gaming environment dropped significantly in 2022 due to the general downturn in the crypto currency market. According to the findings of the CoinMarketCap & Naavik 2022 Blockchain Gaming Report, released (2) in November 2022, prominent play-to-earn games like STEPN and…

CoinMarketCap-led token airdrops ‘infected by fraud,’ crypto project claims

Two crypto projects have cried foul play over promotional airdrops conducted by CoinMarketCap (CMC) on their behalf, which they allege was “gamed” for the benefit of a small group of exploiters. These promotional airdrops — designed to be distributed to thousands of wallets to raise awareness of a crypto project — ended with the tokens funneling to just a handful of wallets, suggesting potential manipulation of the system. SATT token drop Blockchain advertising solution SaTT alleged to Cointelegraph that a promotional airdrop it paid CMC to conduct in Dec. 2022…

SEC Calls FTT Exchange Token a Security

“If demand for trading on the FTX platform increased, demand for the FTT token could increase, such that any price increase in FTT would benefit holders of FTT equally and in direct proportion to their FTT holdings,” the SEC wrote in its complaint. “The large allocation of tokens to FTX incentivized the FTX management team to take steps to attract more users onto the trading platform and, therefore, increase demand for, and increase the trading price of, the FTT token.” Author: Sam Reynolds Source link

Bitgo Reveals Wrapped Dogecoin Token Built on Ethereum – Altcoins Bitcoin News

On Nov. 2, 2022, the digital asset custody business and financial services provider Bitgo introduced a wrapped version of the meme coin asset dogecoin built on top of the Ethereum blockchain. The company detailed the wrapped dogecoin initiative, the Wdoge DAO, is through a partnership between the Dogecoin Foundation, Bluepepper, and Mydoge wallet. Bitgo Introduces Wrapped Dogecoin Initiative Almost four years ago in January 2019, Bitgo launched the popular ERC20 token wrapped bitcoin (WBTC). WBTC is essentially a wrapped version of bitcoin built with the ERC20 standard on top of…

$3 Billion Erased From the Dollar-Pegged Token Economy, HUSD Depegs, USDC Supply Drops 10% – Altcoins Bitcoin News

Over three billion in value was erased from the stablecoin economy during the past 30 days. The trend occurred despite the number of tethers in circulation rising by 2.2% last month. On Oct. 1, 2022, tether’s market capitalization was approximately $67.95 billion, and it’s risen to $69.36 billion since then. Circle’s usd coin, on the other hand, had a valuation of around $47.20 billion 30 days ago and today, the market cap is $42.54 billion, after the stablecoin project’s number of tokens in circulation dropped by 10.3%. Stablecoin Economy’s Supply…

Proof-of-Stake L1 Blockchain Token Aptos Climbs Close to 20% Higher in 24 Hours – Altcoins Bitcoin News

Five days ago, the Aptos blockchain went live after the project received an influx of capital from venture capital (VC) firms and crypto exchanges like a16z, Binance, and FTX. During the past 24 hours, aptos (APT) is up more than 19% against the U.S. dollar and up 11.1% against bitcoin’s value. The VC-backed blockchain token has managed to situate itself within the top 60 largest crypto market capitalizations in existence. Aptos Market Cap Climbs Over $1 Billion, APT Transactions per Second Increases From 4 to 16 A new token has…