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  • Terra governance system passes plan to burn 1.3 billion UST tokens

    Terra governance system passes plan to burn 1.3 billion UST tokens

    The Terra governance system has voted to approve a proposal to burn all TerraUSD (UST) tokens held in the project’s community pool and UST deployed for past liquidity incentives on Ethereum.

    This amounts to more than 1.3 billion UST, or roughly 11% of the existing 11.2 billion UST supply, according to CoinGecko. The proposal received 99.3% of the total cast votes in favor of it. Following the vote, Terraform Labs, Terra’s core development firm, will proceed to execute the burn.

  • SHIB adds over 30,000 new holders in a month despite sluggish performance

    SHIB adds over 30,000 new holders in a month despite sluggish performance

    In spite of the cryptocurrency market’s current gloomy trend, interest in SHIBA INU (SHIB) seems to be increasing, with the asset even acquiring new investors.

    Data acquired and calculated by Finbold shows that there were 1,139,421 holders of the token on April 27 compared with 1,169,989 on May 26, representing a total increase across this time frame of 30,568.

  • Injective is integrating Wormhole to enhance cross-chain accessibility

    Injective is integrating Wormhole to enhance cross-chain accessibility

    Decentralized finance (DeFi) protocol Injective (INJ) has partnered with Wormhole to integrate 10 new blockchains to its network.

    Injective Labs, the protocol’s developers, noted in a May 25 announcement that the partnership will enable users to transfer and trade assets across any chain that is integrated with Wormhole.

  • Top 10 Daily Losers

    Top 10 Daily Losers

    Top 10 Daily Losers

    GMT, the governance token of the STEPN ecosystem, is currently suffering the biggest correction, dropping 39.52% to the price of 20,267 VNDC.

    This asset has dropped by 73.65% after just one month. Following behind are TINC (down 37.85%), ANC (down 37.73%), FRR (down 37.57%),…

  • Stripe, OpenNode team up to allow instant fiat-to-Bitcoin conversions for businesses

    Stripe, OpenNode team up to allow instant fiat-to-Bitcoin conversions for businesses

    Fintech firm Stripe along with Bitcoin (BTC) payments infrastructure platform OpenNode are joining forces to allow Stripe’s merchant customers to instantly convert all or portions of incoming payments to bitcoin via the OpenNode app.

    The new app will debut alongside the Stripe App Marketplace in a few weeks, OpenNode said.

  • Solana surpasses Ethereum in daily NFT trading volume

    Solana surpasses Ethereum in daily NFT trading volume

    According to CryptoSlam statistics released this morning, Solana NFT secondary market sales totaled approximately $24.3 million in the previous 24 hours, while Ethereum sales totaled $24 million throughout all of the markets it tracks. This is partly owing to the launch of Trippin’ Ape Tribe, a new Solana NFT profile photo project on Magic Eden.

    The Trippin’ Ape Tribe alone was responsible for more than $14.5 million of the Solana total during that period. This made it the most popular project during that time frame, outselling all other Ethereum and Solana projects by a large margin—the runner-up being Ethereum’s Bored Ape Yacht Club, which sold for $3.5 million.

  • The Sandbox (SAND) announced a collaboration with Elvis On-Chain

    The Sandbox (SAND) announced collaboration with Elvis On-Chain

    The popular Metaverse platform Sandbox announced a collaboration with Elvis On-Chain on May 26 to bring the King of rock and roll to the virtual world. The partnership includes Elvis Presley Enterprises, and Web3 studio Run it Wild, which spawned the project earlier this year.

    To celebrate Elvis Presley’s birthday, 1,935 Elvis Genesis Key NFTs will be minted as the all-access pass to the Elvis-On-Chain Metaverse, which will launch on June 1.

  • Portuguese parliament rejects Bitcoin tax proposal

    Portuguese parliament rejects Bitcoin tax proposal

    Portuguese parliament rejects Bitcoin tax proposal

    The Portuguese Parliament voted against two separate proposals from minority political parties to tax crypto assets.

    The proposals were from left-wing parties Bloco de Esquerda and Livre and were both rejected on Wednesday afternoon during a 2022 budget voting session, according to economic newspaper ECO.

  • Do Kwon’s plan to rebirth the Terra blockchain gets approved

    Do Kwon’s plan to rebirth the Terra blockchain gets approved

    The governance vote on Do Kwon’s proposal to relaunch the Terra blockchain and create LUNA 2.0 tokens has passed. In total, 65.5% of the total votes supported Kwon’s proposal. The relaunch is slated for May 27.

    However, Do Kwon’s proposal irritates small investors because the majority of LUNA 2.0 will be divided among whales, who currently own a large amount of LUNA, UST. Meanwhile, hundreds of thousands of retail investors will suffer because of the drop in token prices.

  • Central African Republic to launch Bitcoin investment platform

    Central African Republic to launch Bitcoin investment platform

    Central African Republic will launch the continent’s first legal cryptocurrency investment hub, the presidency said, extending the impoverished country’s embrace of digital finance despite words of caution from the International Monetary Fund.

    The soon-to-be-launched “SANGO” crypto initiative has a website on which interested investors can sign up to a waiting list.