Ethereum co-founder Vitalik Buterin, along with India-based crypto fund Crypto Relief and Polygon co-founder Sandeep Nailwal, have pledged $100 million towards COVID-19 research and medical infrastructure development in India. The collaboration aims to tackle the ongoing COVID-19 pandemic and prepare for future pandemics. The Donation The donation will be split between the three parties involved,
Ethereum
Grill.chat, a chat app based on Subsocial network, has recently announced the implementation of Ethereum Virtual Machine (EVM) wallet compatibility. This will allow users to chat using their Ethereum identities and send cryptocurrency to each other via Polygon. Subsocial is a Polkadot parachain designed for social media applications, while Grill.chat allows users to participate in
The price of Ether (ETH) briefly retested $1,780 after news of the US Securities and Exchange Commission (SEC) suing Binance and Coinbase, but the fact that it did not break below the 67-day support is a positive sign for the cryptocurrency. The SEC’s actions are a double-edged sword for Ethereum. Some analysts attribute the bounce
Glassnode, an on-chain analytics firm, has recently published a report suggesting that investors are showing a preference for risk-off assets such as stablecoins and Bitcoin. The report also highlights that altcoins are currently at a crucial turning point, with a potential breakout imminent. Analysis of Uniswap and Futures Trading Volumes According to the report, the
Defactor Labs, a decentralized finance (DeFi) lending platform, has announced that it has tokenized Alpha Bonds worth $100 million on the Polygon (MATIC) network. The tokenization will allow small- and medium-sized enterprises to use real-world assets, such as receivables, as collateral. Defactor Labs partnered with law firm CMS to provide legal guidelines and documentation, while
Sequoia Capital, one of the world’s largest venture capital firms, plans to split into three separate partnerships to serve the United States, China and Asian markets. The move aims to decentralize the company’s back-office functions, citing increased global financial complexity and growing brand confusion. Sequoia Capital plans to embrace its “local-first approach” with the change.
According to analysts from Glassnode, the activity in Ethereum’s decentralized finance (DeFi) sector has declined during the bear market, and it faces competition from Ethereum’s annual staking reward of 4%. The percentage of gas consumed by DeFi protocols has dropped from 34% in 2020 to 8% to 16% presently, with non-fungible tokens (NFTs) commanding the
On June 1, a proposal to introduce protocol fees for Uniswap decentralized exchange was voted down, according to the proposal’s official webpage. The outcome of the vote meant that liquidity providers (LPs) could continue earning all revenue from swaps. The proposal failed narrowly, with 45.32% of votes going to the “no fee” camp, and 42.34%
Circle has announced the launch of a new native version of its USD Coin (USDC) stablecoin on the Arbitrum network. The existing Ethereum-based token that’s been bridged to Arbitrum will be replaced by the new native token. The official version of USDC will be recognised within the Arbitrum ecosystem and will ultimately replace the currently
Origin Ether, a new yield farming app, has gained over $12 million in total value locked (TVL) just two weeks after its launch. This information comes from blockchain analytics platform DefiLlama, which measures the dollar value of assets inside an app’s smart contracts. The app was launched on May 16 and had $793,000 locked inside
Ethereum has recently undergone a historic Merge event in September, which has transformed it into a proof-of-stake blockchain. This entails validators staking their Ether (ETH) to confirm transactions. Ethereum’s March upgrade, known as Shanghai, has enabled stakers to withdraw their locked Ether. Ethereum’s investment themes include decentralized finance (DeFi), stablecoins, Bitcoin (via wrapped versions of
Jimbos Protocol, which is a liquidity protocol of the Arbitrum system in the decentralized finance (DeFi) space, has become the latest victim of a hacking attack. The attack resulted in the loss of 4,000 Ether (ETH), worth approximately $7.5 million at the time. PeckShield, a blockchain security firm, reported that the attack occurred on May
Arthur Madrid, the co-founder and CEO of The Sandbox, reported that his Twitter account was hacked on May 26. The attacker used Madrid’s account to promote a fake “airdrop” phishing scam. Madrid’s post, which was made after he recovered his account, warned The Sandbox users not to click on any links that promote Airdrop or
Crypto analyst Marcel Pechman’s show, Macro Markets, is gaining popularity among cryptocurrency enthusiasts. It airs every Friday on the Cointelegraph Markets & Research YouTube channel and helps in explaining complex financial concepts in layman’s terms. In the latest episode, Pechman discussed the factors causing the crypto market capitalization to remain 60% below its all-time high,
The US stock market saw a recovery on May 17 and 18 due to hopes of a debt ceiling agreement, but some of the gains were lost on May 19 due to reports of a temporary halt in talks. The US Dollar Index (DXY) also turned down on May 19 after Federal Reserve Chair Jerome
While positive news of debt ceiling talks have helped the United States stock markets to recover, the same cannot be said for the cryptocurrency market. Bitcoin has fallen below the $27,000 support, indicating that buyers are struggling to maintain relief rallies. Institutional investors are booking profits due to macro uncertainty, with $200 million being withdrawn
The popular cryptocurrency exchange, Uniswap, is set to launch on the Moonbeam parachain of Polkadot, according to a recent proposal approved on the exchange’s governance forum. Blockchain at Michigan, an educational group, presented the proposal, which passed with near-unanimous support, with only a single token being used to vote against it. Details of the Proposal
Crypto.com, the Singaporean cryptocurrency exchange, has recently launched an update to its decentralized finance (DeFi) wallet service. The update enables support for fiat-to-crypto purchases in more countries and the addition of three new tokens. New Tokens and Fiat-to-Crypto Purchases In a recent blog post, Crypto.com announced that it has added Polygon (MATIC), USD Coin (USDC),
The crypto market has taken a downturn just as Bitcoin (BTC) seemed poised for a price breakout. On May 16, Bitcoin hit a 7-day low of $26,970, causing concern among traders that a larger price dip may be on the horizon. Adding to these worries, a CME gap is currently sitting at $24,000. Ether (ETH)
Celsius, the bankrupt crypto lending firm, is eager to retrieve its staked Ether (ETH) stash from liquid staking platform Lido. It has initiated the process of withdrawing its Lido Staked ETH (stETH) from the protocol. It has requested the withdrawal of 428,084 stETH in batches of 1,000. The stash is valued at approximately $784.7 million
MakerDAO, the company behind the Dai stablecoin and Maker governance token, has unveiled its Endgame roadmap, which includes a heavy emphasis on artificial intelligence (AI) technologies and the development of a new blockchain. The first phase of the project involves a full rebranding to unify the Dai (DAI) and Maker (MKR) brands. While Dai and
Bankrupt cryptocurrency exchange FTX’s claims agent has recently posted that the US Internal Revenue Service (IRS) is claiming a total of $44 billion from the exchange’s bankruptcy and related firms. The IRS is claiming $38 billion against its sister quantitative trading firm Alameda Research. The IRS assessed $20.4 billion in unpaid partnership and payroll taxes
MetaMask, a popular crypto wallet and decentralized application (DApp) provider, has announced that it will now allow Ether purchases through PayPal for its US users. The company claims to be the first Web3 wallet to offer this integration. This collaboration allows American users to select PayPal as their payment method for buying Ether, and it
Aave, a decentralized liquidity protocol, has deployed its V3 protocol on Optimistic rollup scaling protocol Metis. This deployment allows for a range of DeFi features and products to be brought to the Metis ecosystem. Aave’s community voted in favor of a proposal deploying on zero-knowledge (zk) proof EVM zkSync, paving the way for the DeFi
Bitcoin transaction fees have surged to their highest level in two years, hitting $3.5 million on May 3rd. This represents a 400% increase from late April, with the average transaction fee reaching $7.2. While this increase is partly attributed to a surge in Bitcoin activity involving BRC-20 transactions, it is primarily caused by the ongoing
CoinShares, a European cryptocurrency investment firm, released its latest report on May 2, stating that the digital asset market has been experiencing bearish sentiment for the second consecutive week. This has resulted in outflows totaling $72 million, with crypto market funds experiencing outflows across all geographies and providers. The report mentioned that the bearish sentiment
The recent Shapella upgrade on Ethereum has caused a decrease in the share of Ether held by large investors, known as “whales.” Glassnode data shows that the amount of Ether held by whale addresses with 1,000-10,000 ETH dropped from 14.167 million ETH to 14.033 million ETH since the upgrade in mid-April. This suggests that these