- Bitcoin is being used by Ethena Labs to support its USDe synthetic currency. According to the protocol, the change will allow USDe to “scale significantly” as more traders accept bitcoin.
- Ellipsis Labs secured $20 million in Series A funding, spearheaded by Paradigm, a venture firm that specializes in cryptocurrency. The eighth-largest Solana DEX in terms of TVL, the Phoenix Solana on-chain order DEX, is created by Ellipsis Labs.
- Wormhole first distributed tokens to wallet addresses that belonged to the exploiter who was responsible for its earlier hack during its most recent airdrop event. As per a source, the project has now withdrawn the allocation.
- With reference to “ongoing efforts to streamline product offerings” on its NFT marketplace, cryptocurrency exchange Binance has announced that it would no longer handle Bitcoin NFT trading and deposits as of April 18. Users must remove their Bitcoin NFTs by May 18.
- PayPal will enable its PYUSD stablecoin to be used for cross-border money transfers for its American customers. Users in the United States can send money to “recipients in approximately 160 countries” without incurring transaction fees by converting PYUSD to USD.
- Investment firm VanEck projects that the Ethereum Layer 2 market will be valued at $1 trillion by 2030. VanEck analysts are still “generally bearish” about the long-term value prospects for the majority of Layer 2 tokens because of the “cutthroat competition.”
- Later this year, Ripple plans to introduce a stablecoin tethered to the US dollar, which it believes would cater to businesses and payment processors. “USD deposits, short-term U.S. government treasuries, and other cash equivalents” will serve as the stablecoin’s backing.
- According to CoinLedger, a cryptocurrency tax software company, the average cryptocurrency portfolio has increased by $2,804 so far in 2024. The average realized gains for the entire year 2023 were less than $1,000, in contrast to the unrealized average gains.
- At block height 840,000, the Bitcoin Cash network saw a halving event that resulted in a decrease in the miner reward from 6.25 coins per block to 3.125 coins.
- Tether produces two billion USDT stablecoins in two days as part of another batch of minting. Experts at Lookonchain observe that Tether, the company behind the USDT stablecoin, has given the go-ahead for the Tron blockchain to create an additional billion coins.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
