Category: Cryptocurrency

Cryptocurrency is digital money that works online. It lets people send and receive payments directly without banks. It runs on secure networks called blockchains, making it fast and global.

Layer 2 Network Taiko Achieves Remarkable 1,000% Growth in TVL on Ethereum

Summary

Taiko’s Ethereum Layer 2 network is going absolutely bonkers right now! Its total value locked (TVL) shot up by over 1000%, reaching a crazy height of $81 million. That’s not it, as their daily transactions have also skyrocketed to 5 million which indicates more people joining in on Ethereum Layer 2 to make their lives easier through faster and cheaper transactions. Taiko’s big numbers are huge flex in the L2 game and signals huge adoption in the Ethereum ecosystem.

Taiko is an L2 scaling solution for the Ethereum Blockchain. In simple words, its designed to make transactions faster and more affordable while keeping Ethereum’s security and decentralization. Reports say it has seen major growth over the last month, according to DefiLlama, the total value locked on Taiko has increased more than 1,000% which led it to reach cross its all time high and stay at $81 million.

Main reason behind this is its big moves on Ethereum’s Layer 2. Its native decentralized exchange (DEX), Panko Finance, and lending platform Avalon Finance are leading the charge and reports say each of these platforms holds over $30 million in total value locked (TVL). According to a report Taiko network has crossed a record breaking 5 million transactions on November 4 2024. Well, this just shows how popular its becoming with both users and investors. Its clear Taiko is becoming an obvious go-to for anyone looking to seriously scale on Ethereum Layer 2.

Read how: Trump Victory Creates Over 11K New Bitcoin Millionaires

Trump Victory Creates Over 11K New Bitcoin Millionaires

Synopsis

Because of Donald Trump’s triumph in the 2024 election, Bitcoin values have risen to an all-time high, creating over 11,000 new millionaires.

Bitcoin Wallet Surge

Following Trump’s win, the number of Bitcoin wallets worth $1 million or more surged by 11,487, bringing the total to 132,842. This increase came as Bitcoin prices rose by 7.8% within 24 hours, reaching an all-time high of $75,428. In the past 30 days, Bitcoin saw a 20% increase, with Finbold reporting a significant wealth gain among Bitcoin holders.

YOU MIGHT ALSO LIKE: AI Agents Take on Minecraft: SingularityNET’s Proto-AGI Learns in Virtual World

The Impact of Trump on Bitcoin

Trump’s pro-crypto position, which may result in a favorable regulatory environment for digital assets, is credited by analysts with this surge. Investors are looking forward to any policy changes that might further improve Bitcoin’s performance, as Trump’s backing for the cryptocurrency has sparked a newfound interest in the commodity.

Will Bitcoin Increase?

Gert van Lagen and other technical analysts are hopeful. If market conditions continue to be favorable, predictions indicate that Bitcoin might hit $250,000 by the beginning of next year. Bitcoin fans are optimistic that favorable legislation following Trump’s victory could spur additional growth in digital assets.

YOU MIGHT ALSO LIKE: Arkham Launches Perpetuals Exchange with On-Chain Auditing and Rewards

AI Agents Take on Minecraft: SingularityNET’s Proto-AGI Learns in Virtual World

Summary

SingularityNET and ASI alliance has dropped a next-generational experiment, a self-learning robot, or proto AGI that learns and levels up in minecraft by itself. They are currently testing on how this AI could think and learn like us humans. Its just like giving an AI its own playground and us monitoring over it to see how it adapts to its environment. The experiment’s pretty wild and could be a huge step towards building smarter and more ethical AI in real life.

A decentralized artificial intelligence network called SingularityNET and the ASI Alliance, also a team focused on advancing artificial superintelligence have together lunched their first self-learning proto-AGI within Minecraft. This AI could be very powerful if it works as expected in minecraft.

So basically, this AI is let to play minecraft and explore its features on its own. Minecraft is a survival game, in which users are spawned in a random terrain with absolutely nothing. Users then have to navigate through the world find essentials for survival by themselves. This proto-AGI launched by SingularityNET and ASI alliance is supposed to navigate their way to survival by itself.

This sort of AI is called Autonomous Intelligent Reinforcement Inferred Symbolism (AIRIS), it functions outside of its pre-set rules and hence evolves as it encounters new challenges. An ASI Alliance spokesperson quoted minecraft is perfect fit for this purpose. This working style of AIRIS aligns well with Minecraft’s open-ended, unpredictable sandbox world, providing an expansive environment for which the proto-AGI can test the limits of autonomous AI learning.

If this functions as expected, it will be a huge leap for artificial general intelligence development as this same AI could be placed in real life scenarios and it could find a solution that we couldn’t.

Read how SingularityNET Revolutionizing AI with Adaptive Learning

Arkham Launches Perpetuals Exchange with On-Chain Auditing and Rewards

In brief

According to a release from Arkham Intelligence, the Arkham Perpetuals Exchange, a platform for trading spot and perpetual futures, will launch on Wednesday. The proof of reserves and on-chain auditing elements of the exchange will provide transparency for users. Arkham will also have a point-based rewards system that lets users trade points for the ARKM token, but access may vary by region.

Arkham Perpetuals Exchange: Transparent, On-Chain Auditing

The new Arkham Perpetuals Exchange is built for spot and perpetual futures trading, focusing on transparency with on-chain auditing and verifiable proof of reserves. This setup aims to meet demand for secure, accountable trading environments, providing users with insights directly from Arkham’s blockchain-based verification tools.

YOU MIGHT ALSO LIKE THIS: MANTRA and Libre Capital Partner to Launch Tokenized Money Market Funds

Integrated Analytics for Enhanced Trading

Arkham’s platform integrates seamlessly with its existing analytics suite, offering users research and investigative tools to support trading decisions. This combination allows traders to access data-driven insights and track trends without leaving the platform, creating a more robust trading experience.

Point-Based Incentives and Restriction by Jurisdiction

Arkham Points, which are obtained through trading volume and exchanged for ARKM tokens after 30 days, are being introduced by Arkham in an effort to increase involvement. VIP accounts are rewarded much more. However, regulatory limitations limit distribution in some areas, like as the U.S., highlighting Arkham’s dedication to operating in a compliant manner in the crypto arena.

YOU MIGHT ALSO LIKE THIS: Kraken, Galaxy Digital, and Robinhood Back New USDG Stablecoin via Global Dollar Network

MANTRA and Libre Capital Partner to Launch Tokenized Money Market Funds

Summary

Using MANTRA’s blockchain and Libre’s tokenization capabilities, MANTRA and Libre Capital have partnered to provide institutional and accredited customers with on-chain access to tokenized real-world asset (RWA) investments, such as money market and hedge funds.

Institutions’ Tokenized Investment Access

The partnership between UAE-based Libre Capital and Layer-1 blockchain MANTRA aims to offer tokenized investment options in hedge funds, money market funds, and private credit to MANTRA’s accredited and institutional customers. In order to increase on-chain investment access, our collaboration integrates Libre’s issuance capabilities with MANTRA’s RWA-focused blockchain.

YOU MIGHT ALSO LIKE THIS: Kraken, Galaxy Digital, and Robinhood Back New USDG Stablecoin via Global Dollar Network

The Libre Gateway DeFi Solution

The Libre Gateway DeFi dApps, developed by Libre, will serve as the integration tool to allow eligible institutional investors on MANTRA access to top-tier, tokenized money market funds. This compliant access will bring institutional-grade finance to the blockchain ecosystem.

Statements from Executives at MANTRA and Libre

John Patrick Mullin, co-founder and CEO of MANTRA, highlighted the collaboration, saying it will provide users with the tools they need to grow the RWA economy. Dr. Avtar Sehra, the CEO of Libre, expressed optimism about expanding Libre’s tokenized asset offering by utilizing MANTRA’s RWA infrastructure.

YOU MIGHT ALSO LIKE THIS: Bitcoin Surges as Election Day Voting Boosts Market Hype

RWA Expansion with MANTRA’s Accelerator Initiative

Since MANTRA Chain’s mainnet became live in October, the network has partnered with Google Cloud as an infrastructure partner and validator. The accelerator program, which is scheduled to begin in early 2024, is intended to support MANTRA’s RWA market.

Kraken, Galaxy Digital, and Robinhood Back New USDG Stablecoin via Global Dollar Network

Summary

Paxos created USDG, a regulated stablecoin that is supported by well-known cryptocurrency companies Kraken, Galaxy Digital, and Robinhood. As a member of the Global Dollar Network, the stablecoin is expected to face competition from big heavyweights like Circle and Tether.

USDG Launch with Industry Support

Prominent crypto companies including Kraken, Galaxy Digital, and Robinhood are supporting USDG, a newly launched dollar-backed stablecoin from Paxos. According to a Nov. 5 announcement, the Global Dollar Network—a consortium of firms backing USDG—has been formed, with partners like Anchorage Digital, Bullish, Nuvei, and DBS Bank. USDG is regulated by the Monetary Authority of Singapore and backed by liquid U.S. dollar reserves.

YOU MIGHT ALSO LIKE: Polkadot Teams Up with SP Negócios to Boost Crypto Economy Growth

Compliant and Globally Expandable

USDG began operations on the Ethereum blockchain on October 31 and intends to spread to other networks as stablecoin laws change. Managed by DBS Bank in Singapore, the stablecoin is redeemable for fiat currency and is compliant with Singapore’s regulatory framework.

Addressing Market Gaps

In order to assist the stablecoin market reach its full potential, the consortium intends to solve “the lack of competition,” according to Kraken co-CEO Arjun Sethi. Sethi believes USDG will foster mainstream adoption and “accelerate new use cases” for digital assets.

Growth Driven by Consortiums

The USDG reserve yields will be used to reward consortium members, promoting worldwide adoption. Exchanges, banks, fintech companies, and payment providers are among the areas the network plans to onboard partners from, even though it is presently in an invite-only phase.

Going up against Circle and Tether

Since USDG is Paxos’s second stablecoin, it can rival well-known stablecoins like Tether and Circle’s USDC. With the planned entry of new players like Ripple with RLUSD and Stripe through its acquisition of stablecoin provider Bridge, the competition is anticipated to get more fierce.

YOU MIGHT ALSO LIKE: JPMorgan to Launch Dollar-Euro FX Settlements on Kinexys Blockchain

Polkadot Teams Up with SP Negócios to Boost Crypto Economy Growth

SP Negócios, São Paulo’s agency for boosting investment and exports has teamed up with Polkadot to spark innovation in São Paulo’s crypto scene. Polkadot is really stepping up as a key player with its secure and transparent platform. Experts have even predicted a potential 300% surge of this token in near future.

After this team up, people and companies on São Paulo will have full access, starting this December, to free blockchain programming training from Código Brazuca. Its reportedly open to absolutely everyone, even people with zero prior experiences.

A decentralized business developer at Polkadot, Gustavo J. Massena believes this partnership will train blockchain programmers and bring techs closer to all kinds of businesses in São Paulo, and this will be for everyone from startups to well established businesses. SP Negócios also believes this will make the city a go to hub for blockchain and crypto innovation.

This collab is benefitting both sides, for Polkadot, it increases adoption of its technology and is also very beneficial for its brand reputation and trust. As for São Paulo, this collab is a major boost for its tech scene. The city will now attract new investments, help in upbringing of startups and most importantly solidify São Paulo’s status in the blockchain world.

Blockchain is already shaking things up in areas like DeFi, NFTs, and asset tokenization, and this partnership aims to fuel even more growth.

JPMorgan to Launch Dollar-Euro FX Settlements on Kinexys Blockchain

An overview

Using its digital token JPM Coin, JPMorgan Chase will soon launch quick dollar-euro foreign exchange settlements on its Kinexys blockchain. The bank wants to advance blockchain-based financial products and access FX revenue.

Instant Dollar-Euro FX Settlements

JPMorgan Chase & Co. is set to roll out blockchain-based foreign exchange settlements for dollar-euro transactions via its Kinexys platform. According to a Nov. 6 Bloomberg report, Kinexys—formerly known as Onyx—will use JPM Coin, JPMorgan’s dollar-pegged digital token, to process FX transactions instantly. After regulatory approval, the bank intends to launch sterling settlements.

YOU MIGHT ALSO LIKE THIS: AI Tokens Surge as Nvidia Overtakes Apple in Market Valuation

Generating Revenue through FX Spreads

Naveen Mallela, JPMorgan’s global co-head of Kinexys, shared the bank’s goal to open new revenue streams through FX spreads on its blockchain platform. Launched in 2020, Kinexys was designed to facilitate digital payments and streamline currency exchanges with JPM Coin, adding efficiency and speed to traditional banking services.

The Cautionary Approach of Institutional Traders

Institutional traders are still wary of blockchain’s potential despite JPMorgan’s blockchain projects. According to a recent JPMorgan study of more than 4,000 institutional traders, only 7% believe blockchain will be a valuable asset in the next three years. This outcome demonstrates the general reluctance of the industry.

JPM Coin’s Growing Achievement

In mid-October 2023, JPMorgan released a report highlighting JPM Coin’s increasing use in digital settlements and the potential of blockchain technology to transform financial infrastructure. The report indicated that JPM Coin handles more than $1 billion in transactions every day.

YOU MIGHT ALSO LIKE: Wiz Khalifa’s Socials Hacked in New Scam Promoting Phony WIZ Meme Coin

AI Tokens Surge as Nvidia Overtakes Apple in Market Valuation

Summary

AI tokens are absolutely popping off right now and a lot of the hype can be credited to Nvidia, which has once again passed Apple on market cap. This is the second time Nvidia has pushed further than Apple and now the AI crowd is stoked. This really sets a strong base for the future of Nvidia where it rules over AI and GPU game.

Reports on Tuesday say market cap of Nvidia reached $3.43 trillion which is a nick above Apple’s $3.4 trillion market cap. Nvidia has done it two times now and the whole AI segment is thrilled about it.

AI tokens Surge

NEAR’s up 13.7% in the last 24 hours. As of November 6 2024, whole AI token market’s worth around $33.92 billion, with NEAR holding a $5.12 billion stake. One major reason behind this positive pumps in AI tokens is US election projections. Trump, who has always talked positively about advancing crypto further, has sat on his throne in the White House. It will surely bring crypto-friendly vibes all around the globe in the future.

Additionally FET (Artificial SuperIntelligence Alliance) is up by 22.64%, Injective (INJ) has also jumped by 22.43% are two of the most gains made by AI tokens. FET’s at $1.40 and aims to touch $2 mark by the end of December and INJ’s trading at $20.54 which could potentially hit $22.63 which is a leap by 28.56%.

Some other AI tokens like Internet Computer’s $ICP, TAO and Render have also experienced major boosts. AI tokens fueled by Nvidia see this common trend of surging which is most probably because of its fast-evolving tech. Meanwhile Apple is focusing on its Apple Intelligence suite to stay in the game.

The AI token space is also looking to change fast with its new integrations and debates on data privacy and computational power. Plus Trump’s pro-crypto stance could bring even better regulations in the future.

Read how Wiz Khalifa’s Socials Hacked in New Scam Promoting Phony WIZ Meme Coin

Wiz Khalifa’s Socials Hacked in New Scam Promoting Phony WIZ Meme Coin

Summary

Famous rapper Wiz Khalifa’s socials got jacked by scammers and hyped up some crazy meme coin called WIZ on pump.fun. Crypto sleuth ZachXBT suspects this hacker might be same hacker that snatched Truth Terminal founder’s account too.

On November 4, blockchain detective ZachXBT dropped a screenshot in his Telegram channel, showing a deleted sketchy post from Wiz Khalifa’s X account which was hacked during that time. Wiz Khalifa has about 35.7 million followers, so that scam post got massive reach in a very short time resulting in some people losing money to it. ZachXBT warned followers to not blindly follow such posts quickly as there is high chance of big profiles getting hacked.

The hacker on a now deleted X post, promoted a token called $WIZ which was a pump.fun meme coin and assured users it was safe to buy by saying it was based on Solana. ZachXBT told in his group members to not buy Wiz Khalifa token on pump fun and further claimed this might be the same hacker that hacked Andy Ayrey the other day.

As reported by DEX Screener, the WIZ meme coin boomed by almost 2000%. This led it to hit over $2.5 million in market cap within just 15 minutes after launch. But things didn’t remain this bright for long as early holders quickly dumped loads of the token and the market cap crashed below $28,000 within an hour. This is always what usually happens in such sketchy tokens. As the time of writing, WIZ went down by 90% in the last 24 hour and its market cap is sitting at a tiny $7,900.

Since the meme coin posts got wiped away, Wiz’s account has gone silent. There are no updates on whether his account even got recovered or not. While the hacker’s ID is still missing ZachXBT seems very convinced that its same person that hacked Truth Terminal developer Andy Ayrey’s account recently.

Read more about truth terminal : Top AI Bot Truth Terminal Struggles to Go Live with Its Own Website

Exit mobile version