OKX to launch new OKBChain blockchain in Q1
The leading crypto derivatives exchange, OKX, has announced plans to launch a new blockchain platform in Q1.
The new OKBChain will be focused on providing business solutions to enterprises, while the current OKExChain focuses more on providing a decentralized platform for developers to build and deploy dApps.
Floki Inu soared by 191.7% in the last 7 days
FLOKI’s trading volume in the last 24 hours was over $283 million, with “a good portion” on decentralized exchanges — its highest trading volume in the past year.
The meme token rallied by over 40% on Feb. 15 when Elon Musk posted a meme tweet declaring his Floki dog as Twitter’s CEO.
Astar Network and Sony launch a collaborative Web3 Incubation Program
A Web3 Incubation Program will be co-hosted by Sony Network Communications, Inc., an operational firm of the Sony Group, and Astar Network, the multichain smart contract platform. The program will support Web3 initiatives that highlight the practical applications of NFTs and DAOs.
The goal of Sony Network Communications is still to assist new businesses that make use of the Sony Group’s telecommunications operations and resources.
Gaming company Square Enix partners with Polygon for NFT art project
Square Enix, the Tokyo-based video game giant behind popular franchises such as Final Fantasy and Kingdom Hearts, is partnering with the Polygon network to launch a gamified art collecting experience.
The project, titled Symbiogenesis, was announced in November. Sales of the Symbiogensis NFT collection and free browser service are slated to launch in spring 2023.
Arbitrum TVL increased more than 50% in the past 2 months
Arbitrum, an Ethereum Layer 2 solution leveraging optimistic rollups technology, has been gaining interest in the market since the beginning of 2023.
Arbitrum TVL increased from $1.02 billion TVL to over $1.5 billion in mid-February, representing over 47% growth in TVL in less than two months. With the current TVL, Arbitrum has become the fourth-largest chain in the DeFi space after Ethereum, BNB Chain, and Tron.
Abu Dhabi to back the growth of Web3 startups with $2B
Abu Dhabi’s technology ecosystem, Hub71, has announced a new initiative called “Hub71+ Digital Assets,” with a capital backing of over US$2 billion. This project aims to advance Web3-based innovations, such as blockchain technology and metaverse applications.
The initiative aspires to provide Web3 startups with access to a range of programs, and initiatives, as well as, corporate, government, and investment partners in both global markets and the UAE.
El Salvador to open a second Bitcoin embassy in Texas
Milena Mayorga – ambassador of El Salvador to the United States – said the Salvadoran authorities might open a Bitcoin embassy in Texas.
The second-largest US state has emerged as a blockchain hub due to the friendly regulations and the pro-crypto stance displayed by the domestic authorities. In addition, the relatively low price of electricity and the favorable climate conditions have attracted numerous Bitcoin miners to settle there.
Crypto giant Binance expects to pay penalties to resolve U.S. investigations
Binance, the world’s largest cryptocurrency exchange, expects to pay monetary penalties to settle existing U.S. regulatory and law-enforcement investigations of its business, the firm’s chief strategy officer said in an interview.
The company is working with regulators to figure out what are remediations they have to go through now to make amends for that.
South Korea’s second-largest city aims to become a crypto hub
The second-largest city in South Korea, Busan, is making efforts to position itself as a crypto hub. Busan city officials believe that by embracing cryptocurrency, the city can attract young people, technology startups, and investment from venture capital firms.
The city has entered into memorandums of understanding with several of the world’s largest cryptocurrency exchanges, including Binance Holdings Ltd., to launch the Busan Digital Asset Exchange by the end of this year.
Bitcoin miners already made nearly $600K from Ordinals’ NFT transactions
Bitcoin miners have earned nearly $600,000 in two months from a new controversial nonfungible token (NFT) protocol called Ordinals that has triggered a surge in user activity.
Ordinals allow users to inscribe data in images and other media types in newly mined blocks on the blockchain that is otherwise largely used for peer-to-peer (P2P) monetary transactions.