The adoption of cryptocurrency as a disruptive force - cyptoranking.com

2024-05-10

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Proof of Play, an NFT gaming studio founded by the co-creators of FarmVille, completes a seed funding round with $33 million in investment. Related: Polygon co-founder: $1B bet on ZK-rollups paying offPolygon’s website listed 10 co-founders of the protocol, some of whom are still involved in various side projects on the platform. Arjun departed Polygon in March with the spin-off of blockchain data availability protocol Avail. Polygon Labs has begun accepting improvement proposals aimed at transitioning the network to Polygon 2.0 since plans were announced in June. The new ecosystem will use zero-knowledge proofs and be made up of four protocol layers focused on staking, interop, execution and proving. At the time of publication, developers were still working on “bringing Polygon 2.0 to life”.Magazine: ZK-rollups are ‘the endgame’ for scaling blockchains: Polygon Miden founder The adoption of cryptocurrency as a disruptive forceDisclaimer: The text below is a press release that is not part of Cryptonews.com editorial content.Chimpzee has an extraordinary path as it heads from its presale to preserving the planet and saving wildlife.This exemplary Web3 project aims to demonstrate to the world how Web3 technology can be used beyond speculation.The project provides three avenues for investors to earn a passive income while raising funds for organizations helping combat climate change and save endangered animals.Chimpzee has already made a string of remarkable transparent donations, even with its presale still underway.Now, you have the chance to get positioned in this world-changing project to earn a passive income while doing your part to help save animals and combat deforestation.Chimpzee On a Mission to Revolutionize How We Give Using Web3Chimpzee is on a mission to revolutionize how we give to charity through the power of Web3 technology.The project has created three ways for users to make a passive income, all of which help to raise funds for notable organizations that help to save animals and preserve rainforests.Chimpzee wants to increase public awareness and provide financial contributions to organizations making an impact.All of its donations are fully transparent and verifiable on-chain, so you can be sure that funds are landing where they're intended to be donated. Chimpzee created a new web page that showcases the thank you videos they received from the organizations they have helped. You can see it here: https://chimpzee.io/donationsWith global temperatures consistently on the rise and more animal species on the brink of extinction, Chimpzee is one of the only Web3 projects working to make a difference in the world.Chimpzee is essentially a movement that combines passive income with climate protection activism and is already doing its part to live up to its ethos.From Presale to Preserving the Planet and Saving AnimalsEven during its presale, which has raised a total of over $1,520,000, Chimpzee has already got ahead of its roadmap by making significant contributions to charitable organizations.These donations are completely transparent as they're facilitated through The Giving Block, an organization that helps to send crypto-based donations to verified charities.The project kicked off its charitable contributions on the deforestation prevention side of things by donating to One Tree Planted to plant 1,000 trees in the Brazilian Rainforest with another 20,000 in the Guatemalan Rainforest;It then started to save animals by donating $15,000 to the WILD Foundation to provide funding to the rangers who are protecting one of the last herds of desert-adapted elephants;With just 150 of this elephant species remaining, these funds will go a long way to help save one of the earth's most majestic creatures from the wrath of poachers.Furthermore, they made another donation to WILD Foundation, giving $20,000 to help the Yawanawa people protect the black jaguars living in the Brazilian Rainforest.According to experts, just 600 of the black panther's cousins remain, and these funds will help the Yawanawa people continue their fight to ensure they're not wiped off the face of the planet.As you can see, Chimpzee is well ahead of its roadmap and is actively working to positively impact the world.Three Pillars for a Passive IncomeOf course, you'd have no reason to invest in this meme coin if it couldn't provide you with some form of return. Therefore, Chimpzee has integrated three components into its ecosystem to help provide a passive income to holders.These components consist of shop-to-earn, trade-to-earn, and play-to-earn.The Chimp Shop is almost ready to be released. Here, users can purchase Chimpzee branded merchandise and earn $CHMPZ tokens for their purchase.The team has announced that the Chimpzee Shop is almost ready for release as they continue final testing and start to add products to the store;In addition to this, the NFT Marketplace is the only marketplace to share all of the trading fees generated with NFT holders in the ecosystem, and the play-to-earn Zero Tolerance game will provide $CHMPZ rewards for players hitting certain milestones.These components are tied together with the Chimpzee NFT Passport, which will be made available for purchase to all presale participants after the fundraising.The NFT Passport is essential to earning the most passive income in the ecosystem, providing higher rewards in all three pillars mentioned above.They provide a healthy staking APY, higher CHMPZ rewards, Chimp Store discounts, NFT trading fee shares, and additional rewards in the Zero Tolerance game.Invest Today and Take Advantage of Lower PricesOverall, Chimpzee is a project helping Web3 degens do their part for the world and make it a better place.The presale for $CHMPZ continues to blaze after raising $1.5 million.The presale is currently in the thirteenth stage, selling the token for $0.0011. However, a rising pricing mechanism will increase the price over time. Plus, early investors can take advantage of the current bonus and bring the cost of their $CHMPZ tokens to $0.0008 or less.Therefore, those who invest earlier benefit the most as they can take advantage of the lower prices.Visit Chimpzee PresaleCryptoRank's Q3 Fundraising Report After FTX employees realized that the attacker had complete access to a series of wallets, the team declared that "the fox [was] in the hen house” and scrambled to keep the remaining funds out of the hacker’s hands.

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• FCA Registration: For cryptocurrency exchanges and related services, securing FCA registration is a mandatory step towards remaining authorized and legally compliant.• Travel Rule Compliance: Adherence to the Travel Rule is essential. It requires the collection and transmission of transaction details, enhancing transparency and deterring illicit activities.• User Education: In marketing crypto assets, prioritize user education and ensure that potential investors possess the necessary knowledge and experience. This safeguards consumers from undue risks.• Staying Informed: In the dynamic crypto landscape, continuous awareness of evolving regulations and FCA amendments is vital. It empowers businesses to adapt swiftly and maintain compliance. Ethereum, along with various other cryptocurrencies, has encountered issues related to centralization. These concerns extend beyond just staking. A notable observation is that a significant portion of active Ethereum nodes are operated by centralized web service providers such as Amazon Web Services. This has raised questions among experts about the potential vulnerability of the Ethereum blockchain to a centralized point of failure. bitcoin exchange softwareOne could argue that the recent 10.6% retracement merely reflects an adjustment to the overexcitement triggered by the testnet launch. However, other factors may have contributed to investors' worsening sentiment towards Polygon. For instance, Polygon’s ZK subnet, zkEVM, has lagged behind competitors in terms of activity and deposits. The foundation's sale took place at 16:18 UTC+8, where they exchanged 1.7K ETH for a hefty 2.738 million USDC. A peek into the foundation's wallet reveals a balance of 240.68 ETH, 3.238 million USDC, 49,700 DAI and 10,000 ARB, bringing their total assets to a cool $3.687 million.

Larsen says the industry is now waiting on the “next leg of users,” who will likely not be retail in nature. The “power users” of financial services tend to be institutional, he says. The United States economy seems like it is refusing to be derailed. It added a staggering 336,000 jobs in September, defying most expectations. This achievement becomes all the more remarkable against the backdrop of soaring yields on longer-term Treasury bonds and surging mortgage rates.The message embedded in the job data is crystal clear: the world’s largest economy continues to charge forward, even in the face of aggressive monetary tightening. It’s a testament to the economy’s resilience, and suggests that higher interests are here to stay for an extended period. While this news could send shivers down some spines, particularly for those invested in stocks, it’s crucial to understand the bigger picture. Stocks may appear less enticing when you can secure a 6% return with a savings account, yet we may be reaching an inflection point with bonds. It has to get worse before it gets betterThe bond market has witnessed a historic rout, described by Bank of America Global Research as the “greatest bond bear market of all time.” But the analysis isn’t all doom and gloom — there are hints that the relentless sell off in U.S. Treasuries could come to an end. And if we do indeed see a recovery, it could signal the start of a new bull market for risk assets.Related: Bitcoin ETFs: A $600B tipping point for cryptoTurning to crypto, it’s crucial to recognize that short-term Bitcoin (BTC) price action remains somewhat linked to regulatory decisions, particularly those pertaining to a Bitcoin spot ETF. So far, all of the positive news surrounding spot ETFs has failed to move Bitcoin out of its holding pattern. A green light on this front could unleash substantial inflows into BTC, providing the much-awaited impetus for a resurgence. It would also be remiss not to mention the ongoing FTX saga, which is currently playing out in the courts and damaging crypto’s reputation.United States Federal Funds Effective Rate, 1955-2023. Source: Board of Governors of the Federal Reserve System.But here’s the twist — what may spell bad news for financial markets could be good for the broader economy. The Federal Reserve holds a pivotal role in shaping the path for risk assets, and it has just two more meetings before the end of the year. Should the Fed decide to suspend further rate hikes, it could act as a catalyst, triggering market anticipation of an impending rate cut. This anticipation could, in turn, set the stage for a massive risk-on rally across various asset classes, including cryptocurrencies.Festive revelry could set the tone for 2024The last three months of the year often introduce a heightened Santa rally. After the year we’ve had, it might soften the blow and pave the way for a more palatable 2024. History shows that the market tends to gather momentum during this festive season, with a surge in buying activity and positive sentiment among investors. Among these factors, regulatory decisions regarding spot ETFs and any potential pause in rate hikes, or even a shift in the Fed’s messaging concerning future hikes will be watched closely. So while the cheer from September’s jobs data tends to drive immediate headline moves in the market, it doesn’t necessarily steer the long-term thinking of the Fed.Related: Sky-high interest rates are exactly what the crypto market needsLooking ahead into 2024, we are faced with the prospect of a BTC “halvening” in April, historically a positive event for crypto. However, the broader macroeconomic conditions have signalled some signs of instability. Bitcoin’s ongoing correlation with stock markets adds an extra layer of complexity to the equation. The outcome hinges on the messaging from the Fed — and decisions made by the Securities and Exchange Commission (SEC) regarding spot ETFs. If the macroeconomic backdrop remains uncertain, the Fed may pivot toward rate cuts, potentially altering the trajectory of both traditional and digital asset markets. With hints of a bond market recovery and the prospect of regulatory clarity in the crypto space, we could see brighter days ahead. As we approach the festive season, the potential for a Santa rally rekindles the type of hope and momentum that ignites the crypto market. While some challenges may loom, history teaches us that sometimes, it gets worse before it gets better.Lucas Kiely is chief investment officer of Yield App, where he oversees investment portfolio allocations and leads the expansion of a diversified investment product range. He was previously the chief investment officer at Diginex Asset Management, and a senior trader and managing director at Credit Suisse in Hong Kong, where he managed QIS and Structured Derivatives trading. He was also the head of exotic derivatives at UBS in Australia.This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph. Should I buy Dogecoin right now?Decentralized infrastructure network provider Nodle is working with the likes of Adobe and the Linux Foundation to use blockchain technology to prove the authenticity of real-world content captured by devices.In correspondence with Cointelegraph, Nodle co-founder Garrett Kinsman outlined the firm’s upcoming software development kit (SDK) for its ContentSign solution that will look to prove the integrity of data from its moment of capture using blockchain.Nodle is bringing ContentSign to the Content Authenticity Initiative, a project led by Adobe and the Linux Foundation, to create a future standard for media attestation.Related: Blockchain IoT firm Nodle goes open source with Web3 Bluetooth ‘nanocomputer’ stickerAs Cointelegraph previously explored, its main offering is a network leveraging smartphone Bluetooth connectivity to rent computing power, storage and the Bluetooth capability of devices to broaden the footprint of Internet of Things networks.A visualization of Nodle’s ContentSign solution capturing a real-world image that its data cryptographically signed and published on a blockchain. Source: NodleKinsman says ContentSign is set to form part of this puzzle to prove that a physical camera or device has captured a specific piece of visual media and its corresponding metadata:“The way this is done is by having a stamp that proves that a genuine camera has captured the video, the video has been signed by the private key only known by this camera, and a footprint of this video has been published to a blockchain.”The technology could prove useful for a myriad of use cases, including journalism. As Kinsman explains hypothetically, a journalist can capture video or picture of a breaking news event using a camera embedded with ContentSign technology:“As the video is recorded, ContentSign ensures it is stamped and signed with a unique private key exclusive to that specific camera.”The footprint of the video is then minted as a nonfungible token on the Nodle blockchain. The signature validates that the content originates from a genuine source and hasn’t been manipulated or artificially generated.Kinsman adds that the current iteration has the service emulated on a mobile phone through ContentSign’s SDK but future implementations could mirror technology found in cryptocurrency hardware wallets: “In the future, the camera will embed a secure element, similar to what you can find on a Ledger hardware wallet.”Blockchain solutions similar to ContentSign could prove crucial as artificial intelligence (AI)-generated content grows, driving the need for solutions distinguishing between authentic and fabricated content.“Blockchains, with their inherent characteristics of decentralization, transparency, censorship resistance and immutability, provide an essential framework to anchor authenticity.”Kinsman says that ContentSign is being directly explored as a solution for the insurance sector to process claims with accuracy and integrity. ContentSign will ensure that submitted visual proof for insurance claims is genuine and has not been tampered with or generated by AI.Magazine: The Truth Behind Cuba’s Bitcoin Revolution: An on-the-ground report The tamper-resistant nature of blockchain technology extends to gaming outcomes, making it extremely difficult for third parties to manipulate results. While some online Casino may not fully rely on RNG, players can still verify the fairness of these games through third-party auditors.

Image Soure: AdobeThe total value locked (TVL) across DeFi projects has experienced a resurgence after teetering below the $40 billion mark last week.According to data from DeFi TVL aggregator DefiLlama, the DeFi market cap is currently valued at over $41 billion, with approximately $1.6 billion in trading volume over the past day.The surge indicates a daily rise of around 6%, accompanied by a 6.39% increase in trade volume. Among the top DeFi tokens, Chainlink (LINK) has emerged as one of the biggest winners of the week, experiencing a more than 4% increase in value. However, other coins like Synthetix (SNX) and injective (INJ) have slipped by 2.70% and 3.36%, respectively, over the past week.Among smaller DeFi tokens, some witnessed notable growth while others faced significant declines. During the previous week, Ellipsis (EPS) experienced a remarkable rise of 129% and Thorchain (RUNE) climbed by 49.29%. Conversely, Persistence (XPRT) plummeted by 12.47%, and Mobox (MBOX) suffered a decline of 10.94%. Curve's CRV token, still recovering from a recent hacking incident, fell by an additional 4.81% this week.DeFi TVL Reaches Almost $42 Billion on SundayDespite fluctuations in token performance, theTVL in DeFi reached $41.94 billion on Sunday, narrowly avoiding falling below the $40 billion threshold. Leading the pack in TVL size is Lido Finance, boasting an impressive $15.11 billion in its liquid staking protocol. Following Lido, Makerdao, Aave, Uniswap, and Tron's Justlend protocol are ranked based on TVL size.Out of the 202 blockchain platforms, Ethereum dominates with over 58% of the TVL market share, amounting to $24.38 billion. Trailing behind are Tron, BSC, Arbitrum, Polygon, Optimism, Avalanche, Mixin, Solana, and Cronos. Tron's TVL commands a 13.31% market share, with a combined value of $5.56 billion as of Sunday morning.Furthermore, an astonishing 10.89 million Ether, equivalent to $20.252 billion, is locked in 23 distinct liquid staking DeFi protocols related to Ethereum. These protocols account for nearly half (48.28%) of the entire $41.94 billion TVL in DeFi across all 202 blockchain networksThe rise in DeFi TVL comes amid a surge in good news within the industry. Last week, payments giant PayPal announced that it is rolling out its PYUSD stablecoin soon.The dollar-pegged asset is issued by Paxos, a blockchain infrastructure firm that used to issue Binance USD (BUSD) stablecoin.Likewise, Coinbase announced the launch of its Ethereum (ETH) layer-2 scaling solution Base.The platform aims to enable developers to build their own crypto applications, expanding Coinbase's revenue streams beyond its core trading business. DeFi Protocol Zunami Loses Over $2.1 Million in a Major Price Manipulation Attack So it seems very much that the Cosmos app chain vision we pioneered some years ago is now increasingly being adopted as the way forward. The rollup-based scalability roadmap is very much driven by this app chain scalability vision, where you’re letting each rollup do its own thing rather than a monolithic top-down scaling framework, which is very much Cosmos-inspired. 10 Best Cheap Cryptocurrency to Buy in 2022BAR (FC Barcelona Fan Token) According to the post, the phishing scheme has seen 11 Hong Kong-based Binance customers report combined losses of more than $446,000 ($3.5 million Hong Kong dollars) in the last two weeks.

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