Multichain DEXs are on the rise with new protocols enabling them - cyptoranking.com

2024-04-29

Popular crypto exchanges(2023 Update) 2024-04-29
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Read: Ether Slides as Ethereum Foundation Swaps $2.7M ETH on UniswapWhy Is Ethereum Performing Poorly Compared to Bitcoin? Experts Answer For instance, once a transaction gets to any validator, they forward it to an upcoming leader. Multichain DEXs are on the rise with new protocols enabling themFund issuers that weighed launching ether futures ETFs likely also had marketing in mind, as some fund groups look to ultimately build extensive crypto ETF suites. Image Source: PixabayCrypto billionaires have been hit hard by the Securities and Exchange Commission's crackdown on Binance and Coinbase, incurring huge losses so far this week.Binance CEO Changpeng Zhao, known as CZ, has seen his net worth shrink by $1.4 billion to $26 billion, while Coinbase CEO Brian Armstrong has seen his net worth drop by $361 million to $2.2 billion, according to the Bloomberg Billionaires Index. This marks a reversal in fortune for crypto’s wealthiest founders, who saw their combined net worth increase by $15.4 billion in 2023 from the comeback in the price of Bitcoin and other digital assets.Specifically, Zhao's fortune was up by a staggering 117% before this week’s decline, while Armstrong’s was up by 61%. By comparison, the other billionaires on Bloomberg’s wealth index were up a combined 9%.Bitcoin's partial comeback this year was largely due to the expectations that the decreasing inflation as well as the US banking crisis that erupted in March would lead the Federal Reserve to hit a pause on rate increases.That is because lower interest rates can stimulate economic growth and may lead investors to seek higher returns from riskier assets such as cryptocurrencies and stocks.However, this may not matter if US regulators make it harder for the industry to operate or make it difficult for Americans to trade.SEC Files Charges Against Both Binance and CoinbaseThe SEC has sued both Binance, the world's largest cryptocurrency exchange, and Coinbase, the largest US-based cryptocurrency, over the past two days. The commission filed 13 charges against Binance and its US affiliates, ranging from allegedly operating as an unregistered exchange to offering unregistered securities. The regulator also levied similar charges against Coinbase, claiming that it operated as an exchange, broker, or clearing agency without the required registrations. The lawsuit against Coinbase came after the SEC sent a “Wells notice” to the company in March, threatening the crypto exchange with legal actions regarding some of its listed digital assets, its staking service Coinbase Earn, Coinbase Prime, and Coinbase Wallet. In response to the complaint, Senator Cynthia Lummis lashed out at the SEC, claiming the agency not only failed to provide a path for crypto exchanges to register but also failed to provide legal guidance on what constitutes a security. "The SEC's continued reliance on regulation by enforcement continues to harm consumers," she said, recommending that the agency instead create a "robust legal framework that exchanges can comply with."Meanwhile, in an interview with CNBC Squawk Box shortly after the agency announced charges against Coinbase, SEC Chair Gary Gensler said crypto firms need to be compliant with securities laws. "I think the crypto industry more broadly if it's gonna have any success going forward has to come into compliance with basic public policies about disclosure, about avoiding conflicts, about properly segregating customer funds, and guarding against fraud manipulation."Coinbase Receives Cease and Desist Notices from 11 US States

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Though Zhao anticipated a minimum of $1 billion to be invested by industry giants, no more than $30 million was raised. According to Hayes, “the US banking system is functionally insolvent because the regulators made the rules in such a way that it was profitable from an accounting perspective, not an economic perspective, to essentially take in deposits and buy low yielding treasuries and they could do it with almost infinite leverage and a few basis points differing in the change of the price and everyone makes a lot of money and gets a big bonus.” “The banks collectively bought all these treasuries in 2021 and obviously the price went down a lot since then and that’s why we have the regional banking crisis.” The largest concern expressed by Hayes is “at a structural level, the US banking system cannot buy more debt, because it cannot afford to because it is structurally insolvent. The Federal Reserve has committed to doing quantitative tightening, so it's not accumulating more treasuries.”Hayes explained that the market is digesting this, and the nuance here is that despite high rates on treasuries, gold prices remain high and certain market participants who previously were treasury buyers are disinterested. Currently, banks’ struggle to attract deposits, and the difficulty of matching their deposit rates to the current rates available in the market creates revenue and debt management stress at a level which could become critical to the function of the entire banking system. Like many cryptocurrency advocates, Hayes believes that it’s in times like this that a certain cohort of investors begins to look at different investment options, including Bitcoin. Hayes’ view on why Bitcoin is destined for $750,000Despite what appears to be a generally dismal outlook on the global and U.S. economy, Hayes still expects Bitcoin price to outperform, and he placed a target estimate in the $750,000 to $1 million range by the end of 2026.Hayes expects Bitcoin to continue,“Chopping around $25,000 to $30,000 this year as we get to some sort of financial disturbance and people recognize that real rates are negative. If the economy is growing at a nominal rate of 10%, but I’m only getting 5% or 6%, even though it's high, people on the margin are going to start buying other stuff, crypto being one of those things.”Coming into 2024, Hayes said either a financial crisis will push rates closer to 0% or the government keeps raising rates, but not as fast as governments spend money and people continue looking for better returns elsewhere. The eventual approval of a spot Bitcoin ETF in the U.S., Europe and perhaps Hong Kong, plus the halving event could push price to a new all-time high at $70,000 in June or July of 2024. Regaining the all-time high by the end of 2024 is when the “real fun starts and the real bull market starts” and Bitcoin enters the “750,0000 to $1 million on the upside.” When asked whether the estimated price level would stick, Hayes agreed that a 70% to 90% drawdown would occur in BTC price, just like it has after each bull market. This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision. Trust Wallet Crypto WalletHere’s what happened in crypto today — Web3 Foundation (@Web3foundation) October 10, 2023

The Noun fork mechanism technically allows erstwhile holders to use the project’s code for a spinoff project, but participants in September’s fork don’t seem to be interested in a Nouns rebrand. The fork contract shows 224 separate transactions of users claiming their share of ether (ETH), leaving under 1,000 of the original 16,000 ETH remaining in the fork’s wallet. Source: niftygateway.comAutumn is on its way, and for many coffee drinkers, 'tis the Pumpkin Spice Latte season. Starbucks' popular beverage is turning 20, and to celebrate the occasion, the American coffee shop chain announced special non-fungible token (NFT) collectibles. Starbucks Odyssey, the coffee giant's Web3 rewards and loyalty platform, will today release Pumpkin Spice Latte digital stamps, exclusively for its members. Nonmembers can join the Starbucks Odyssey waitlist.Each NFT from "The PSL Collection: Spiced Stamp" will cost $20.Payment options include ETH, Nifty Gateway balance, Gemini balance, credit card, and buy now pay later.Four types of NFTs will be available, each representing a type of "fall’s most iconic drink": Spiced, Iced, Steamed, and Whipped.Each member can purchase up to 4 Stamps from the collection, according to the description on the NFT marketplace Nifty Gateway. The designs will be revealed to the buyers by October 10, 2023. Per the announcement, "Stamps earn you 250 points each. If you choose to purchase all four designs, an opportunity awaits you on the other side."Starbucks' NFTs are minted on Ethereum scaling network Polygon and sold on Nifty Gateway. The company announced its blockchain-facilitated loyalty program, Starbucks Odyssey, last year. It launched the platform in a closed beta version in December.At the time, it said that the members would be able to engage in Starbucks Odyssey 'journeys' - a series of activities such as playing interactive games or quizzes - to earn digital collectibles called ‘journey stamps.’There are a number of NFTs created by Starbucks available on Nifty Gateway, currently with floor prices between $7.44 for a Constant Conversation Airdrop Stamp and $768 for a Holiday Cheer Stamp."By integrating into the Starbucks Rewards ecosystem and grounding the experience in coffee, connection and community, we are entering the Web3 space differently than any other brand, while deepening our members’ connection to Starbucks,” said Brady Brewer, Starbucks executive vice president and chief marketing officer. ____Learn more:- Starbucks Odyssey Makes Big Bet that Web3 and NFTs Can Make Rewards ‘Immersive’- Coffee Giant Starbucks Aims to Enter NFT Business- Starbucks Unveils Web3 Loyalty Program, Inviting Customers on an 'Odyssey' of Rewards and Benefits- South Korean Bankers 'Fear' Starbucks Crypto ThreatOpenSea Unveils OpenSea Studio to Help Creators Easily Launch NFT Projects What is an Order Book?Read More: 9 Best Crypto Demo Accounts For Trading Ethereum, the second largest cryptocurrency by market capitalization, moved away from mining and adopted Proof-of-Stake consensus in September 2022. So far, the transition has been received as a success by the Ethereum community and the move to PoS has also made ETH a more attractive long-term investment thanks to the concept of the Ethereum triple halving.

The Metamorphoses of Zero-Knowledge Proofs Explaining Ethereum Name Service (ENS): What Is It and How Does It Work?Ethereum vs Bitcoin: Use Cases, Technical Differences, Scaling IssuesWhat Is DeFi? Let’s Understand Decentralized FinanceWeb3 vs Web2 : What’s the Difference? Crypto Exchange Coinbase Posts Loss,but Beats ExpectationsThe game operates on a zero-fee framework with zero-knowledge rollups (Zk-rollups), ensuring efficient and cost-effective transactions. The daily RSI supports the continuing of the increase. Market traders use the RSI as a momentum indicator to identify overbought or oversold conditions and to decide whether to accumulate or sell an asset.

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