Tether, Bitfinex, Hypercore collab to launch encrypted P2P apps
Crypto exchange Bitfinex along with Tether (USDT) and Hypercore announced the launch of a fully encrypted platform, Holepunch, for building peer-to-peer applications.
Holepunch currently operates as a closed source protocol in its alpha or pre-release phase, which will be moved to open source code by the end of 2022. Developers building solutions on the Holepunch protocol will be able to use USDT as default for micropayments.
The Merge is Ethereum’s chance to take over Bitcoin
Ethereum researcher, Vivek Raman, is convinced that Ethereum’s upcoming transition to a proof-of-stake (PoS) system will enable it to take over Bitcoin’s (BTC) position as the most prominent cryptocurrency.
The Merge is a long-awaited upgrade that will complete Ethereum’s transition from a proof-of-work (PoW) to a proof-of-stake system. In addition, The Merge will transform Ethereum’s monetary policy, making the network more environmentally sustainable and reducing ETH’s total supply by 90%.
Moonbeam integrated with Osmosis via Axelar Network
Moonbeam, a smart contract parachain on Polkadot, announced integration with Cosmos-based DEX Osmosis via cross-chain interoperability protocol Axelar Network to enable cross-chain token swaps between the Polkadot and Cosmos ecosystems.
DOT became the first token to move between the two ecosystems, and has been available on Osmosis.
Curve Finance calls for funding of 1 million OP tokens from Optimism
Curve Finance has submitted a governance proposal to Optimism for its 1 million OP token grant, according to an Optimism forum post submitted on July 24.
According to the fundraising proposal, Curve will issue 1 million OP tokens worth $850.000 over the course of 20 weeks. The grant will aid in encouraging liquidity on Optimism and therefore extending the layer-2 network’s decentralized finance reach.
BNB was the top ten’s best market performer in Q2
Statistics from the second quarter of 2022 indicate that the crypto economy has tumbled significantly in value, and crypto tokens in the top ten market positions have lost 30% to 60% in USD value during the past 3 months.
BNB, is only down 33.67% in Q2, which makes BNB the best performer during the second quarter among the top ten crypto assets. BTC’s 42% plunge was the second best market performance out of the top ten, while Cardano (ADA) managed to capture the top ten’s third best market performance in Q2.
Bitcoin records 2x higher 30-day trading volume than Apple despite bear market
According to data acquired by Finbold, Apple’s daily average trading volume for 30 days ending July 22 stands at $11.6 billion.
Elsewhere, Bitcoin’s average daily trading volume for the 30 days was $27.7 billion, according to CoinMarketCap data. Therefore, Bitcoin has recorded a trading volume of at least 2.3 times more than Apple despite experiencing a sustained bear market.
Polygon launches Nightfall to provide enterprise solutions via ZKP tech
Polygon‘s Head of Enterprise, Antoni Martin, gave the keynote speech at the 2022 EY Global Blockchain Summit and introduced Polygon Nightfall, the company’s new zero-knowledge proof (ZKP) solution that offers privacy for companies that want to use Ethereum blockchain.
According to Martin’s speech, Polygon Nightfall produces eight times faster results than Ethereum base layers, transfers non-private ERC20s for six times cheaper, and is fully public.
SHIBA INU keeps being actively used by 1,000 largest Ethereum holders
According to WhaleStats, SHIB has a 17.92% or $505.7 million share in the total portfolio of all ETH whales, which equals $45.4 trillion SHIB.
The average balance of a member of the top 100 is 3.1 trillion SHIB, which equals $36.6 million. Both indicators significantly increased in the last 24 hours, by 29.6% and 26.5% respectively. The total share of SHIB concentrated in the hands of the top 100 Ethereum whales is a crazy 31% of the total token supply.
Uniswap announced integrating Sudoswap
One of DeFi’s key players, Uniswap (UNI), continues to make its way into the NFT sector, integrating the decentralized NFT exchange sudoswap to provide efficient NFT swaps for users.
The sudoswap integration will allow users to buy or sell NFTs in a decentralized way directly from Uniswap as well as create their own NFT liquidity pools. In addition, the platform is optimized for gas and only charges a 0.5% commission, which is five times lower than the main competitor, OpenSea.
Chain completes $100 million acquisition of MDT token
Blockchain infrastructure firm Chain announced on Saturday the acquisition of Measurable Data Token (MDT).
With this acquisition, there will be a sunset of the Measurable Data Token (MDT) which will be burned and swapped for XCN token. MDT token holders will receive the benefit of the swap and will be expected to receive a $0.08 MDT token value for the swap.