Category: Cryptocurrency News

Cryptocurrency News and Public Mining Pools

ETH 2.0 Staking Rate Grows to 10.72% as The Merge Approaches

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Ethereum sell-off fears rise as crypto hedge fund moves $60M ETH to an exchange

Ether risks turning overbought on shorter timeframes, amounting to sell-offs also as it retests a critical resistance level.

Bitcoin’s recent gains have traders calling a bottom, but various metrics remain bearish

The total crypto market capitalization recovered roughly 5%, but a variety of trading metrics show investors are skeptical about the rally being a trend change.

Proofi by LTO Network to bring its KYC solution to DeFi and blockchains via Chainlink

Dutch blockchain LTO Network, today announced that Proofi by LTO Network will make its identity data available to the multi-chain DeFi ecosystem via Chainlink, the leading blockchain oracle solution. Chainlink is integral to this process, as it will help make identity attestations on the LTO Network available to the wider blockchain ecosystem. By enabling seamless…
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While the New LUNA Records Gains, Do Kwon’s Terraform Labs Is Plagued by Controversy and Accusations

It’s been two days since the Terra development team launched the new Phoenix-1 blockchain with the network’s native token LUNA. While the token dropped significantly in value during the first day of trading, the new LUNA has jumped 8.8% in value during the last 24 hours. Amid the token’s 24-hour rise, controversy continues to plague […]

Why TRON Has Seen a 45% Hike in Total Value Locked (TVL)

According to Wu Blockchain, the TRON network has seen a hike in its total value locked (TVL) over the past 30-days. This increase seems to be related to the launch of this network’s native algorithmic stablecoin USDD. Related Reading | Tether CTO Says, USDT-Dollar Remains Strong Amid Stablecoin Crises As reported by NewsBTC a month ago, TRON’s founder Justin Sun announced the deployment of USDD for May 5, 2022. This digital asset operates similarly to LUNA CLASSIC network’s Anchor Protocol. USDD allows users to earn a 30% annual percentage yield (APY) for staking it on the JustLend platform. TRON launched its own algo stablecoin to capitalize on the popularity of this product. However, May has seen a massive LUNA-UST (Terra Classic’s algo stablecoin) which has impacted the crypto industry. The crash in the price of LUNA and the UST deppeged appears to have little impact on TRON. Data from DeFi Llama supports the increase in TVL. This number stands at $6 billion with a 14% increase in the past week alone. TRON’s TVL has grown beyond that of Polygon, Avalanche, Solana, and Fantom. If the trend continues, the metric could surpass the TVL on Binance Smart Chain which currently sits at almost $9 billion. Further data provided by DeFi Llama indicates JustLend is the protocol with the percentage of TVL. The platform records $2.8 billion in TVL followed by JustStables’s $1.4 billion. In a short period of time, JustLend and the algo stablecoin seem to have taken over the TRON ecosystem pushing it to the top 3 in TVL across the DeFi sector. This seems to suggest that algo stablecoin still are very popular in the crypto space, despite the events on the Terra Classic network. Can TRON’s USDD Survive After The Events On Terra Classic Last week, a pseudonym analyst looked into USDD and the TRON ecosystem to determine if the new digital asset can withstand current market conditions. The analyst pointed at the collapse in the old Terra Classic network and its implications for all-algo stablecoins. However, the analyst believes USDD and its network are in a different state. Right now, the TRON-based algo stablecoin, the analyst claims, is mainly supported by insiders. Therefore, there could be room for retail and other investor classes to adopt USDD. This could benefit TRX and its ecosystem, as it seems to have recently. The analyst said: (USDD) It is in its fairly early stages, with only insiders in. There is room for latecomers and eventually even retail to enter before it carries the same risks as Luna. Timing is everything in musical chairs. USDD mcap is at only 2.5% of UST’s peak. In addition, the analyst believes that USDD doesn’t operate exactly like UST but “is actually more like Maker” with a different collateralization mechanism but with the buying pressure for TRX. The altcoin has been performing well compared to other assets. Related Reading | TRON Joins Stablecoin Wars Will Launch USDD With 30% APY, Here Is When TRX’s trades at $0.08 with sideways movement in 24-hours. Despite the downside price action in larger cryptocurrencies, TRX has been able to rally on the back of its algo stablecoin.

Paraguay paves the way for crypto regulation despite internal opposition

A new bill for crypto regulation has been approved by Paraguayan Congress despite the central bank and budget commission’s rejection of the project.

DeFi Saver is now live on Arbitrum and Optimism

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I’ve read the 496 pages of “The Cryptopians” by Laura Shin so you don’t have to

The Cryptopians is one of the first books to take a deep dive into the early history of Ethereum. And when I say "in depth", I'm not kidding: journalist Laura Shin gives an almost daily description of the days of Vitalik Buterin and other developers for the period 2013-2018. She interviewed hundreds of people and…
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