Crypto
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STEPN move-to-earn tokens GMT, GST hit new highs after Coinbase listing announcement
The native tokens of move-to-earn lifestyle app STEPN swung higher on news that they would be available to trade on Coinbase, a U.S.-based crypto exchange. The price of STEPN’s governance token Green Metaverse Token (GMT) rallied by nearly 20% to reach over $4 in the past 24 hours, hitting as high as $4.50, its best level to date. GMT/USD four-hour price chart. Source: TradingView Similarly, the other STEPN token, called the Green Satoshi Token (GST), which players earn after walking, jogging and running outdoors with STEPN’s “NFT Sneakers,” gained 6.5% to about $6.25 on a 24-hour adjusted timeframe with a new record high of $7.20. STEPN ecosystem grows The intraday rallies in GMT and GST markets are part of a broader uptrend that started in early March 2...
Ethereum strives to migrate into a brighter future: Report
Ethereum 2.0 has been a highly anticipated development in the crypto industry. A recent Cointelegraph research report asks if Ethereum is still on track to defend its crown as the prime network backing the decentralized finance world. The report cuts through popular misconceptions investors may hold and offers a comparative analysis of Ethereum and its competitors. Meanwhile, the Ethereum foundation rebranded the Eth2 project at the start of this year. Is it trying to manage expectations or educate? New talk of consensus and execution layers In a blog post in January, the Ethereum foundation stated that developers had been moving away from the Eth1-Eth2 terminology since late 2021. Instead, Eth1 will now be called the “execution layer” and Eth2 the “consensus layer.” This is not a minor tw...
“DeFi is not decentralized at all,” says former Blockstream executive
Samson Mow, former chief strategy officer at Blokstream and founder of JAN3, is convinced that most decentralized finance protocols can’t compete with Bitcoin when it comes to providing an effective monetary network because of their lack of decentralization. As Mow pointed out, DeFi projects are governed by entities that can modify the protocol at will. “At the fundamental level, money should be immutable,” explained Mow. “If you can change it at will, then you’re no better than a fiat currency governed by the Fed.” Bitcoin’s decentralization makes it very difficult to modify its protocol, which is why Mow considers it a unique candidate for becoming a truly global monetary system. Mow pointed out that despite the immutability of Bitcoin’s base layer, developers can still build appli...
Buenos Aires to accept crypto for tax payments, launch DLT-backed citizen profiles
The capital of Argentina and an agglomeration with more than 12 million citizens, Buenos Aires will make blockchain a vital part of its digitalization drive. Specifically, the city will accept public financial transactions in crypto. As city Mayor Horacio Rodríguez Larreta revealed in his Steve Jobs-styled presentation on April 25, the 12-step development plan titled “Buenos Aires +” envisions a significant increase in crypto and blockchain adoption. Con Buenos Aires + vamos a dar un paso más en el camino hacia un Estado facilitador que desburocratice y agilice los procesos. Un camino en el que el Estado sea el que se acerca a la gente, y no al revés. pic.twitter.com/yi6fUMmAUI — Horacio Rodríguez Larreta (@horaciorlarreta) April 26, 2022 The city authorities intend to launch a platf...
Cake DeFi introduces a new feature “Borrow” to allow users to borrow DUSD
Cake DeFi, a leading Singapore-based fintech decentralized finance (DeFi) platform has announced the launch of its new product called “Borrow.” Borrow shall allow users to borrow Decentralized USD (DUSD) using Bitcoin (BTC), Ether (ETH), USD Coin (USDC), Tether (USDT), and DFI as collateral. The “Borrow” feature gives users a better option of investing in crypto rather than just HODLing. The new product shall allow users the novel opportunity of increasing their crypto portfolios and potentially also boost their DeFi earnings. The Co-founder and CEO of Cake DeFi, Dr. Julian Hosp, said: “We are excited to launch Borrow to provide users with more liquidity to invest in DeFi services while holding on to their assets. DeFi empowers people to generate passive income on their cryptocurrencies wi...
Could Lido Finance’s popularity put a damper on Ethereum’s decentralisation?
The high incentivisation of Lido Finance staking pools could centralise ETH supply control to the protocol. Ethereum will gain sufficient decentralisation to offset a potentially dominant Lido with the increasing adoption of competing liquid staking solutions. Lido Finance is Ethereum’s premier liquid staking protocol and has in recent months seen parabolic growth in the volume of staking deposits it receives. The spark behind the surge was the launch of the Beacon Chain, Ethereum’s PoS blockchain, to which users can’t withdraw their staked assets until launch. A leader in liquid staking, Lido Finance allows users, especially those who cannot manage their validator nodes, to put their ETH into staking pools at a 4% APR yield. Amongst other advantages, users who stake in Lido’s pools ...
Coinbase lists Binance USDC and also adds support for ROSE
Coinbase, one of the leading crypto exchanges in the US, announced that it has listed trading pairs of Binance USD (BUSD) and Binance. Besides, On April 11 Coinbase published the list of the top 50 tokens that it was targeting to list during the Second Quarter (Q2) of 2022. Binance USD, a stablecoin that was issued by its greatest competitor Binance and also the fourth largest Stablecoin by market capitalization, was among the tokens to be listed in Q2. Following its listing on Coinbase, BUSD has become the eighth stablecoin to be offered by one of the leading exchanges. However, Coinbase noted that BUSD will not function in its native Binance Chain (BSC) but as an ERC-20 token on the Ethereum (ETH) network. In addition, the exchange also warned its users against sending their assets...
Plan for $1M bug bounties and double the nodes in wake of $600M Ronin hack
The Ronin Network and Sky Mavis have vowed to upgrade their smart contracts, offer lucrative bug bounties and ramp up security following the $600 million hack late last month. As Cointelegraph previously reported, the Ethereum sidechain developed for the popular NFT game Axie Infinity was the victim of an exploit for 173,600 Ether (ETH) and 25.5 million USD Coin (USDC), worth more than $612 million at the time. Earlier this month, the Federal Bureau of Investigation (FBI) attributed the attack to North Korea-based and state-sponsored hacking group Lazurus, as it fired off a warning to other crypto and blockchain organizations. Ronin announced its platform changes via a post-mortem report published yesterday, noting that all user funds are in the process of being restored, as it vowed to ma...
Nifty News: Solana NFT Okay Bears tops charts, South African wine NFTs rake it in and more
Okay Bears, a Solana-powered NFT, managed to top OpenSea’s 24-hour sales tracker for the first time earlier today, beating out all other Ethereum (ETH) projects on offer. It’s the first time a Solana (SOL) NFT project has reached the top spot in popular NFT marketplace OpenSea’s 24-hour sales tracker. .@okaybears No.1 on the OpenSea 24h rankings A @solana project has topped OpenSea’s market-wide 24h sales tracker for the first time! Check out the latest featured Solana collections on our dedicated SOL page: https://t.co/gteXeNRocn pic.twitter.com/1duEDQyxyn — OpenSea (@opensea) April 27, 2022 The Solana-based NFT, which features a collection of 10,000 diverse images of bears, told its Twitter followers it had sold out its collection only a day after its launch, bringing in 231,000 SO...
Bitcoin set for volatile monthly close after BTC price ‘checks all boxes’ for major move
Bitcoin (BTC) has reentered its most significant lifelong consolidation zone but could still crash to a “macro bottom,” new research warns. In a Twitter thread on April 27, on-chain analytics platform Material Indicators shone a light on the importance of $38,000 for BTC price action. Bitcoin circles all-important point of control After lingering near liquidity at or above $37,700 on intraday timeframes, data from Cointelegraph Markets Pro and TradingView shows, BTC/USD has yet to make a clear move up or down, and traders have been left guessing which way the market will go. Macro factors are demanding further downside, as the impact of inflation and geopolitical strife is clearly felt on equities markets. At the same time, on-chain signals are anything but bearish, led by miners and ...
Home sweet hodl: How a Bitcoiner used BTC to buy his mom a house
There’s a special bond between mothers and their sons. For pseudonymous Alan, a 28-year-old engineer, a Bitcoin (BTC) loan helped his mom to buy a house. Alan told Cointelegraph that he took out a Bitcoin-backed loan in 2021 — serendipitously on his sister’s birthday — to gift his mom the tax-free money. She then used the funds to buy a house in North Yorkshire, England, while Alan kept his Bitcoin. Yorkshire, England, known as “God’s own country.” Source: North Yorkshire City Council Alan first used Bitcoin in 2012, learning it was a useful currency to buy things on the internet. He used the peer-to-peer (P2P) service localbitcoins.com, whose team are regular Cointelegraph contributors, to buy Bitcoin. Alan described the process of buying Bitcoin from real people as a “bizarre experience....
Crypto Bahamas: Attendees talk the future of NFTs
The crypto community headed to Nassau in the Bahamas this week for the inaugural Crypto Bahamas conference. Like most conferences, panels fill up the agenda and on Wednesday the topics at Crypto Bahamas ranged from NFTs to crypto in sports and to asset allocation in Web3. During one particular conversation, titled Evolution of NFTs: Culture, Utility and Regulation, panelists had some insightful musings on the NFT market. To put the Crypto Bahamas conference into context, Sam Bankman-Fried’s cryptocurrency exchange FTX moved its headquarters from Hong Kong to the Bahamas in Sept. 2021. It recently inked a multi-year partnership with Anthony Scaramucci’s investment firm SkyBridge Capital, and its events arm SkyBridge Alternatives, or SALT. They jointly presented the conferenc...
