All About Cryptocurrencies: Beginner's Guide - cyptoranking.com

2024-05-13

Popular crypto exchanges(2023 Update) 2024-05-13
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Users can now stake as much or as little as they choose in each of up to five stake pools in their multi-staking selection with the new 1.6 release. Users can also view and adjust the ratios of all their stake pools by adding or subtracting a percentage from an easy-to-use interface using this feature, which was provided as part of version 1.6. The US Securities and Exchange Commission (SEC) added that under Bankman-Fried’s instructions, Ellison manipulated the price of a digital token issued by FTX. Alameda then used the altcoin as collateral for undisclosed loans taken from FTX. All About Cryptocurrencies: Beginner's GuideSource: a video screenshot, Entrepreneur ME / YouTubeBinance CEO Changpeng Zhao's plan to rescue the cryptocurrency market has fallen short of expectations eleven months after launch.Since the launch of the Industry Recovery Initiative (IRI), the company has only spent less than $15 million out of an announced $1 billion fund, Bloomberg wrote. Last year was plagued by two major falls which sent the market to sharp lows; the Terra Network and the cryptocurrency exchange, FTX.After the collapse of FTX, the ripple effect was seen both in plunging asset prices and in struggling firms who were exposed to the company.Zhao became a hero when he announced a plan to partner with leading industry players to raise $1 billion to save startups within the ecosystem. Notable firms like Jump Crypto and Animoca Brands joined in the fund.Binance has spent just $15 million from its total commitment and now transferred the remaining $985 million to its corporate treasury. Before this, the exchange announced a conversion from BUSD to other cryptocurrencies citing increasing regulatory pressure on stablecoins.Projects funded since IRISo far, Binance claims that the industry rescue fund has been applied to 14 projects although 13 of those remain undisclosed announcing only the funding of Gopax, a South Korean cryptocurrency exchange.At the time CZ stressed the importance of the fund to save web3 projects adding that,“The Industry Recovery Initiative was created to support promising companies that were negatively impacted by the events of last year. We hope that taking this step with GOPAX will further rebuild the Korean crypto and blockchain industry.”A few months after the announcement of the IRI m, about 18 firms had also contributed $100 million towards the cause although only nine were publicly identified.Jump Crypto pledged $25 million while DWF labs budgeted $15 million and has utilized $2 million with a withdrawal of $14 million.Aptos on the other hand pledges $5 million and has utilized the same amount for the project. While the fund remains underutilized, Binance has explained that most firms failed to meet the criteria. “We didn’t identify as many projects who would meet our criteria, and this is the same for the other investors,” Dan Hou, head of Business Strategy and Operations at Binance.FTX's negative impact on VC funding The impacts of the post-FTX saga can be seen in plummeting venture capital investments from Q3 2022.Blockchain intelligence firm, Messari noted that VC volume last quarter stood at $2.1 billion down from its all-time high of $17 billion in 2021.VC volumes in crypto slid 36% from Q2 2023 after recording slight growth on the back of numerous spot Bitcoin ETF applications amid renewed institutional demand.In total, VC volumes in crypto assets have been down by 70% since the collapse of FTX although recent developments show a slight change in the stance of institutional investors. Gemini Appoints Sachin Ranlani as Vice President and Head of India for Market Expansion Source: pudgypenguins.ioPopular NFT collection Pudgy Penguins has launched its Pudgy Toys collection in 2,000 Walmart stores across the United States. The toys, which have been available online since May, are expected to see a significant boost in exposure with their presence in Walmart.Each Pudgy Toy will come with a unique birth certificate that enables owners to claim exclusive traits for their digital 'Forever Pudgy' character within Pudgy World. By scanning a QR code, users can unlock these traits in an online virtual world built on the zkSync Era blockchain.“Pudgy Penguins is bridging the gap between our physical and digital worlds of play for kids in a really engaging way,” said Brittany Smith, vice president of merchandising – toys, Walmart U.S.Pudgy Penguins Trading Volume Surges 530%Following the recent revelation regarding the project's collaboration with Walmart, Pudgy Penguins saw a sharp spike in trading volume.According to data from CoinGecko, the NFT collection has registered 1,033 ETH (worth around $1.6 million) in trading volume over the past day, up by 530%.The floor price of the collection has also surged over 11% to 5.2 ETH (worth around $8,200), while its market cap reached 46,008 ETH ($73 million).Luca Netz, CEO of Pudgy Penguins, said Walmart's inclusion of Pudgy Toys in their stores is an indication that consumers want to interact with digital brands.“Walmart’s inclusion of Pudgy Toys in their stores is a testament to the evolution of how consumers engage with brands in the digital era."Walmart to Boost Popularity of Pudgy Penguins Walmart's position as the largest retailer in the U.S. and one of the world's largest companies by revenue in 2022 will undoubtedly enhance the collection's popularity beyond the crypto industry.Pudgy World, an immersive multiplayer digital environment, allows users to explore, play games, and fully customize their Forever Pudgy character.Since its launch in 2021, Pudgy Penguins has generated an impressive $400 million in sales. The brand's success can be attributed to its effective utilization of social media and experiential marketing techniques, setting it apart from other NFT collections that struggled to gain traction.While mainstream media often dismisses NFTs due to their volatile price performance and perceived lack of demand in a competitive market, integrating physical products into established platforms presents an opportunity for NFT collections to engage with a broader audience and build stronger brands.Walmart will stock 16 different types of Pudgy Toys, with prices ranging from $2.99 to $11.97. These toys are manufactured by PMI Kids' World, a well-known brand that produces toys based on popular cartoons and shows like WWE. Animoca Brands Subsidiary to Launch Unique Bitcoin Metaverse Token

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The first ether futures ETFs went live today — and the overall performance was, unsurprisingly to some, rather muted. — CertiK Alert (@CertiKAlert) October 9, 2023 Crypto Exchange Liquidity & Solutions ProviderThe soured loan highlights the risks of tokenized real-world assets (RWA) such as private credit, which has become one of the latest trends in a crypto industry hungry for something to get excited about as capital inflows dried up. It also brings under scrutiny the due diligence process performed on blockchain-based RWA lending protocols, especially after last year’s string of defaulted loans to crypto trading firms. “The best defense is a good offense.”

The main benefits of the association are to: The NFTs are part of the coffee chain’s Web3 loyalty rewards program called Starbucks Odyssey. The program features NFT stamps, such as the Pumpkin Spice Latte, which can be collected to earn points and specific rewards. TradingLiteAugust data shows a decrease in core PCE inflation to 3.9% / Photo by Alexander Grey on UnsplashAccording to data released today by the U.S. Burea of Economic Analysis (BEA), the Federal Reserve's preferred metric for inflation, known as the core personal-consumption expenditures (PCE) price index, showed a decrease in August. The PCE report was released amid growing concerns about inflationary pressures that could prompt the Federal Reserve to adjust interest rates.The core PCE inflation index rose by 3.9% year-over-year in August, a decrease from the revised 4.3% in July, as forecasted by economists. Monthly, the core PCE deflator increased by 0.1%, falling short of the anticipated 0.2% and down from July’s 0.2% increase.PCE Inflation Metrics and Market ReactionThe year-over-year increase in the PCE stands below 4% for the first time since September 2021. This decline has been viewed as a positive development by investors who were already in buying mode this morning prior to the release of the inflation data. Dow Jones Industrial Average futures rose by 200 points, or 0.6%, a 30-point jump from levels before the inflation data was publicized.Core CPE IndexOn the other hand, the market has been jittery for over a week following the Federal Reserve's latest monetary policy announcement on September 20. Although the central bank decided to hold interest rates steady, it hinted at the possibility of rate hikes to control inflation, leading to a decline in stock prices and a surge in bond yields. The yield on the 10-year Treasury note rose to more than 4.6%, the highest level since 2007.Tom Essaye, the founder of Sevens Report Research, commented on the issue to Barron's. "Powell referred to recent inflation reports as 'good' at last week’s press conference but he said more were needed before the Fed can fully admit it’s pausing rate hikes," he said.The decline in core PCE could serve as another 'good' report that might ease some of the Federal Reserve-induced market anxiety.The Impact of Essential Needs on August's Inflation NumbersIn August, inflation rose by 0.4% as indicated by the PCE price index, based on the report.While a 0.4% uptick in consumer spending can be considered positive for the U.S. economy, the nature of the spending this time is worth noting. Americans allocated more funds to essential needs like gas, housing, utilities, and medical care rather than discretionary items such as dining out, high-end clothing, and vacations.Personal Income and Outlays / BEA September 2023 ReportHeadline PCE, which includes volatile components like food and energy prices, reported a 3.5% increase year-over-year—its highest level since May. Energy prices, in particular, surged by 6.1% from July, making it the largest contributor to the rise in PCE. The price of West Texas Intermediate crude oil, the benchmark for the U.S. market, reached its highest level in over a year, indicating that inflationary pressures may persist.While the dip in August's core PCE inflation may offer a momentary respite, it doesn't provide a definitive answer to the Federal Reserve's future course of action. With energy prices on the rise and lingering concerns about inflation, the central bank faces a complex set of variables as it considers potential interest rate adjustments.FTX Bankruptcy Claims Skyrocket as Company Recovers $7.3 Billion in Assets Overseas Visitors’ Digital Yuan ‘Uptake Rising’ – and More Chinese Now Paid in CBDC

Convenience The initiative has also brought onboard notable figures from the Ethereum community — such as Frax founder Sam Kazemian and 0xMaki — as advisors.Fixed rate-focused Yield Protocol is the latest DeFi project to wind down How much can you make off $1 dollar in Bitcoin?— 𝕄𝕠𝕦𝕤𝕥𝕒𝕔ⓗ𝕖 🧲 (@el_crypto_prof) October 9, 2023 However, in a centralized structure, a single body takes the power to control the overall system. There is no complex governance and a need for understanding between administrators. As mentioned, a decentralized setup requires distributed database for reaching a consensus on what amount of entries are added to a node.

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