Introducing Metastaking: A Maiar DEX Innovation
Metastaking is the first DeFi product to combine Staking, Liquidity Providing and Yield Farming into one powerful product.
RIDE will be the first token to pioneer this novel concept, which will soon become a standard for the strongest projects in the Elrond ecosystem.
Vitalik Buterin confirms he’s assisting in Dogecoin’s Proof-of-Stake transition
Ethereum founder Vitalik Buterin confirmed that he is supporting Dogecoin’s Proof-of-Stake (PoS) transition.
Dogecoin’s Proof-of-Stake (PoS) transition enables transaction verifiers in the network to stake their coins to ensure that the upcoming block is legitimate, minimizing the need to use electrical power.
$1 billion worth of ETH burned in the past 30 days
According to blockchain data from Nansen Analytics, 395,821 ETH, equivalent to over $1.096 billion worth of Ethereum (ETH) has been burned in the past month.
MicroStrategy buys another $25 million worth of Bitcoin
MicroStrategy just announced they bought 660 Bitcoin for $25 million during last month with an average price of $37,865 per bitcoin.
MicroStrategy now holds 125,051 bitcoins acquired for approximately $3.78 billion at an average price of $30,200.
India to impose 30% tax on crypto income, CBDC in 2022-2023
The Reserve Bank of India (RBI) will introduce the Central Bank Digital Currency (CBDC) as India’s official digital rupee in 2022-23, finance minister Nirmala Sitharaman announced in the Union Budget for 2022-23.
Sitharaman also announced that India will impose a tax of 30% on income from cryptocurrencies and other digital assets.
FTX reaches $32 billion valuation with $400 million fundraise
FTX raised $400 million in a Series C funding round that gives the cryptocurrency exchange a mammoth $32 billion valuation. That’s about the same as the market cap of Germany’s Deutsche Boerse and more than the Nasdaq exchange or Twitter.
The capital injection will help the exchange fund its global expansion and obtain additional licenses in different markets. CEO Sam Bankman-Fried has previously announced that FTX was planning acquisitions and partnerships to enter more countries and grow its user base.
Litecoin releases the Mimblewimble extension block upgrade
After 2 years of development, Litecoin (LTC) has finally launched its highly anticipated Mimblewimble upgrade, opening the door to more privacy-oriented transactions on the network.
Mimblewimble’s integration into Litecoin came by way of the Mimblewimble Extension Block, also known as MWEB, which allows the network’s users to opt-in to confidential transactions. MWEB developer said the upgrade improves Litecoin’s viability as a fungible currency that can be used for everyday transactions, pay employee salaries and even purchase real estate.
Solana wallet Phantom raises $109 million in new funding, launches iOS app
Phantom, a crypto wallet for accessing the Solana ecosystem, has raised $109 million in a Series B funding round to expand across multiple blockchains, including adding support for Ethereum before the end of this year.
Phantom has released its iOS app today. The wallet initially launched as a browser extension in July last year and has quickly grown to become the leading Solana wallet, like Ethereum’s MetaMask.
Ethereum fees drop 53% in 20 days
Ethereum’s average network fees have dropped to the lowest value in 30 days. The average-sized fee (ASF) on Ethereum on January 30, 2022, is 0.0096 ETH or $24.64 per transaction.
Average-sized ETH fees haven’t been this low since January 1, 2022, when the average-sized fee (ASF) was $25.75 per transfer. Ethereum fees reached a high on January 10, at $52.46 per transaction and the current ASF today is 53.03% lower than the high.
Polygon (MATIC) reaches new milestone of 7000 dApps, beats ETH’s daily transaction volume
According to data from Alchemy, over 7000 decentralized applications (dApp) were now operational of Polygon, which is more than double the number just three months prior.
As for user adoption, Polygon recorded a billion transactions last year with over 2.67 million monthly active users generating 3 million transactions per day, which it claims is more than double the volume of Ethereum.