Binance pulls out of Canada amid new crypto regulations - cyptoranking.com

2024-05-03

Popular crypto exchanges(2023 Update) 2024-05-03
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It’s a unique property of the system, Julio says. “Only about one percent of the orders that get placed on any order book-based exchange get filled,” so the system requires “100x the scalability for placing and canceling orders.” The small percentage of trades that actually take place are settled on-chain, he says. Isn’t it important to show potential employers what you can do? If you’re consistent, competent at what you’re doing, and follow the advice in this guide to obtain a job working for a Metaverse, you’ll have no problem being hired. Binance pulls out of Canada amid new crypto regulationsAdditionally, CryptoBusy emphasized the vulnerability of fiat currencies by noting: DeFi has grown leaps and bounds in the past years. Given its youth and innovation, the legal details around DeFi have not yet fully emerged. Governments across the globe may aim to fit their current regulatory guidelines onto DeFi, or they may construct new laws on the sector. Regardless DeFi and its users may already be subject to specific regulations in some regions.

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Image Source: dydxPopular decentralized exchange dydx has received unanimous approval from its community to transition to version 4 and adopt the DYDX token as the Layer 1 token for its upcoming blockchain. The vote, which took place on the Snapshot platform and concluded on September 4, garnered almost 100% support from the community.Initiated by Wintermute, the proposal received an astounding 36 million votes in favor from 392 addresses, with only 43 votes in opposition from four addresses. This overwhelming community backing paves the way for the migration of the DYDX token from Ethereum (ETH) to a Layer 1 appchain within the Cosmos ecosystem, which is currently on the testnet.The proposal also included the development of an Ethereum smart contract overseen by the dYdX Foundation. This contract aims to enable the seamless transfer of DYDX tokens from the Ethereum network to the new dYdX Chain. "DYDX is now officially planned to be the base token of the dYdX Chain," announced dYdX founder Antonio Juliano.Launched in 2018, dYdX is a leading decentralized derivatives market specializing in perpetual trading. With nearly $240 million in trading volume in the last 24 hours and a total trading volume surpassing $1 trillion since its launch in 2020, the platform continues to be at the forefront of the decentralized derivatives market.Perpetual contracts, also known as "perpetuals," are futures contracts without an expiration date, making them highly popular in the cryptocurrency industry. In the upcoming dYdX version 4, every validator on the network will operate an offchain orderbook. Trading orders will be sent to the network and distributed among validators, who will then generate blocks containing matched orders using a proof-of-stake consensus mechanism.DeFi Platforms Take the Spotlight as Interest in CeFi WanesSince the recent crypto meltdown, there has been a shift in investment patterns, with venture capitalists reallocating funds from CeFi projects to invest in the growing DeFi sector. A March report from CoinGecko highlighted that digital asset investment firms invested $2.7 billion in DeFi projects in 2022, marking a 190% increase compared to 2021.In contrast, investments in CeFi projects decreased by 73% to $4.3 billion during the same period. The report suggests that DeFi is emerging as the new high-growth area in the crypto industry, while CeFi may have reached a saturation point.As reported, Binance CEO Changpeng Zhao has also predicted that DeFi can outshine CeFi during the upcoming bull run. During a recent AMA, the crypto boss expressed his belief that DeFi has the potential to surpass CeFi in terms of trading volumes. “I think the more decentralized the industry becomes, the better,” Zhao said, suggesting that it may not be long before DeFi overtakes CeFi trading volumes, as it currently stands at around 5% to 10% of CeFi volumes. Binance CEO CZ Predicts DeFi to Outshine CeFi in Upcoming Bull Run Beyond these domestic investments, the Titan Fund ventured into international territory, supporting projects like Informal Systems, co-founded by seasoned crypto expert and Cosmos co-founder Ethan Buchman, as well as the NFT-focused ecommerce platform KickzMeta and its affiliated project, Mooncourt. Why Dogecoin Price Is Going Up In June 2023Altman also expressed reservations about Central Bank Digital Currencies (CBDCs), highlighting their potential for enabling state surveillance. He firmly opposed the adoption of CBDCs, arguing that they could be wielded to enhance scrutiny of financial systems. Vishal Talasani, the co-founder of Stride Labs, has proposed a merge between its liquid staking zone and the Cosmos Hub, the blockchain that connects thousands of other networks in the Cosmos ecosystem, by converting Stride’s STRD governance token to Cosmos’ ATOM.

Archivers “It is incredibly important to consider before donating that due to potential phishing scams and cyber attacks, please compare the crypto wallet address to the verified one on the official website, so that funds aren’t sent to addresses that may have been sent to you through other sources.” Pionex|Exchange with Built-in Crypto Trading BotSays Santiment, OpenSea Unveils OpenSea Studio to Help Creators Easily Launch NFT Projects

Source: Adobe / lumerbEthereum’s layer 2 networks have gained significant traction in the past few years as developers seek faster and cheaper solutions to interact with the blockchain.According to a new report released by blockchain intelligence firm, Messari, layer 2 solutions recorded 61% of the entire Ethereum (ETH) transactions in Q3 2023.The State of Ethereum report explored how the blockchain and cryptocurrency fared in the last three months, notably around prices, adoption of layer 2 networks, asset dominance, network upgrades, etc.Layer 2 solutions are separate networks that help developers build on Ethereum’s mainnet. The need for these solutions grew as a result of the congestion of Ethereum resulting in the need to scale, reduce fees, and expand use cases. Messari cites Base and Friend.tech Kunal Goel, a research analyst at Messari opined that the increased adoption of layer 2 transactions in the third quarter of this year is largely a spin-off from the growing adoption of Base.Since the launch of Base in August, it has lived up to its expectations with growing transactions and use cases and temporarily recording more activity than the mainnet at one point.The network boasts $442 million in total value locked (TVL) within months which takes it into the top four layer 2 solutions. According to its developers, Base differs from the rest because it was built solely for developers without a native token as native governance assets in most cases distort the work done on the network. “We want folks to see Base as kind of an opportunity for growth and expansion. But we also think it's really important that we incubate, and curate a Base native community where folks who are really building base first, and creating for this new kind of world,” Jesse Pollak, Director of Engineering, Coinbase.Taking many transactions to layer 2 was Friend.tech, a social token-driven platform that gained significant traction generating millions of dollars within a short period.Goel noted that Base was in a pole position as it capitalized on Friend.tech launch on its network.Arbitrum and Optimism post positive resultsArbitrum remained the biggest layer 2 solution in the third quarter, averaging 600,000 daily transactions, a wide 200,000 gap from Optimism. Although Arbitrum is on top of Ethereum’s layer 2 networks, Base and Optimism have taken off 36% of its market share as they continue to focus on community engagement and lure more projects to their platforms.While Arbitrum has a TVL of $4.2 billion, Optimism records $1.27 billion. Despite the growth of layer 2, Goel adds that the market still wears a bearish outlook so caution should not be ignored.In Q3, Ethereum outperformed Bitcoin by 2% in terms of price growth although its market capitalization declined 10%. Israeli Authorities Freeze Crypto Donation Accounts Linked to Hamas All services will be suspended on Nov. 6, though provisions have been put in place for users to export financial data, a company banner on its website reads. Coinbase opens Bermuda-based crypto derivatives exchangeThis action comes as part of a broader effort to curb the flow of funds into the hands of the terrorist organization, especially during times of conflict. Similarly, another XRP enthusiast, Julian Williams, contended that even if Ripple were to liquidate its monthly XRP escrow allotments entirely, critics would still accuse the company of “dumping” XRP.

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