Coinbase to launch first crypto derivatives product in June - cyptoranking.com

2024-04-29

Popular crypto exchanges(2023 Update) 2024-04-29
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The development followed another credit event of a Goldfinch pool earlier this year, when African robotaxi financing company Tugende defaulted on a $5 million loan set to mature this October. The borrower also breached loan covenants by making intercompany loans to stem the financial struggles of a sister company, a Goldfinch governance post said. Source: CircleCircle, the stablecoin issuer, has announced its plans to begin minting USD Coin (USDC) directly on the Polygon network.According to a press release issued on Tuesday, USDC is now accessible to users and developers on the Ethereum layer-2 scaling solution. This ends the bridged USDC from Ethereum (USDC.e), popular with many developers. Stablecoins have gained immense popularity in the crypto world due to their ability to maintain a stable value. USDC is the 6th largest cryptocurrency and the second-largest stablecoin by market cap, according to Coinmarketcap. The digital asset is an established and trusted asset that enables millions of customers to securely access and move their funds. Circle's collaboration with Polygon comes with many benefits. This solution enables businesses and developers to access on/off ramps for USDC on Polygon PoS – eliminating the costs and delays previously associated with third-party bridging.In addition, Circle Mint and Circle's developer APIs fully support USDC on Polygon.As a result, transactions on Polygon can be executed swiftly and cost-effectively, making it an ideal choice for remittances, trading, and decentralized applications (dApps) that rely on stablecoins.Before the introduction of Circle's native Polygon-based USDC, businesses were required to use bridged USDC (USDC.e) from the Ethereum blockchain. It's important to note that Circle didn't issue this token, so it couldn’t be redeemed. However, the new native USDC on Polygon can be redeemed at a 1:1 ratio for United States dollars.In addition to minting USDC on Polygon, Circle would now discontinue the deposits and withdrawals of USDC.e on Polygon through Circle Mint and its APIs. This would be finalized on November 10, 2023.Furthermore, the USDC issuer has plans to launch a cross-chain transfer protocol to connect with other blockchain networks via Polygon later in the year. A Great Step for CirclePolygon PoS is a scalable Proof of Stake (PoS) blockchain that complements Ethereum's decentralized security with quicker settlement times and improved cost efficiency. As of October 2023, the Polygon PoS ecosystem boasts over 475 dApps and more than 300,000 active wallet addresses.The integration of USDC on Polygon marks a significant milestone in the evolution of the blockchain industry. It allows users to enjoy the best of both worlds – the security and decentralization of Ethereum, coupled with the speed and efficiency inherent in Polygon.As the cryptocurrency landscape continues to evolve, innovations like this demonstrate the industry's commitment to creating more accessible and efficient financial systems for everyone.6 Themes Important Themes for the Next Crypto Bull Run, According to Nansen’s CEO Coinbase to launch first crypto derivatives product in JuneAs of September 25 of this year, Christine Lagarde, the Chief of the European Central Bank, indicated that the Digital Euro remains at least two years away from implementation. China, previously regarded as a frontrunner in Central Bank Digital Currency technology, was still in the trial phase, primarily focused on establishing rudimentary use cases with close allies. In comparison, Bitcoin and the broader open cryptocurrency ecosystem have amassed over 14 years of production activity and organic growth. For those who may not have closely followed Bitcoin's evolution, CBDCs may initially appear reasonable. However, upon closer examination, it becomes evident that Bitcoin's first-mover advantage provides it with a substantial head start in terms of network effects, adoption, and technological maturity. As a range of firms chase a spot bitcoin ETF, Ark Invest expects to differentiate by ultimately bringing more exposures than rivals to market, the company’s chief operating officer said.

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The analyst thinks that $27,100 and $27,300 could act as a bottom before the rise. However, he states that if this region is lost, the $ 26,300 level can be targeted. Regardless of the controversy surrounding him, Elon Musk remains the most influential person in the Dogecoin community. What Is Cryptocurrency And How Does It Work?NFT trading volume. Source: DappRadar Riot Platforms, another player in the Bitcoin mining sector, reported a 9% increase in Bitcoin production for September, mining 362 BTC. Interestingly, Riot Platforms adopted a strategy of strategically curtailing mining operations while benefiting from a long-term contract in which they sell pre-purchased power to their utility provider at market-driven spot prices, receiving power curtailment credits.

SubQuery plans to launch the SubQuery Network in addition to its ongoing help. The update should give zkSync Era developers another decentralized indexing technique. This update shows SubQuery’s dedication to improving zkSync Era developers’ and the blockchain community’s skills. Chart of all funds locked on Ethereum-based layer-2 networks | Source: l2beat.com Will Ethereum go up in 2023?“Art was just way more interesting than finance at that point,” Saiers said. He’d seen significant shifts during his finance career — like the 2008 crisis, to say the least. By comparison, the field was calming down. BitVM for Bitcoin Smart Contracts

The declining profitability for blockspace is attributable to declining user activity and falling volumes across multiple on-chain subsectors. Swaps and transfers of popular stablecoins such as USDT and USDC are down as much as 90% from March 2023 highs, and NFT trading volumes in particular are continuing to dwindle. This sizable Wintermute transfer highlights the active and dynamic nature of the cryptocurrency ecosystem, with traders and institutions making substantial moves to optimize their holdings and strategic positions. Wintermute’s decision to deposit such a substantial amount of OP tokens into Binance signals confidence in the platform and suggests a strategic move to leverage the exchange’s capabilities. How to Buy Crypto with Zelle (2023)-DatawalletMost Bitcoin miners will likely survive, although the sector is bound to become increasingly competitive with each halving, forcing the least efficient miners to shut down their operations. The sector will also be interesting to watch from a regulatory perspective, as some lawmakers are alleging that Bitcoin mining is a waste of resources. Virtual Hosted Mining: This type, like host mining, allows customers to hire virtual mining equipment. It does, however, provide more freedom by allowing miners to choose their mining pool and software configuration.

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