Connect with us

News

Tether mints $1b on Tron with no fees

Published

on



Tether issued $1 billion in new USDT tokens on the Tron blockchain as stablecoins’ total market cap grew.

Payments giant Tether minted its latest Tron USDT inventory on July 24, as noted by Arkham. The firm paid nothing in transaction fees, and such a move is typically regarded as bullish. The new USDT on Tron came as the total number of stablecoins in circulation has trended upwards since June 29, as a Nansen team member told crypto.news over email. 

However, experts from the blockchain analytics firm said it’s difficult to assert whether this pattern indicates upcoming price increases. 

“Given there were many other factors at play in October 2023, and now, it’s hard to justify it being the next leg up on its own.” the Nansen analyst explained. 

According to Nansen, other factors to consider include both on-chain decentralized exchange volumes, address stats, and off-chain data like exchange-traded fund flows, macro outlooks, and monetary policies. 

Current trends suggest the crypto market still has some way to go before technical observers are convinced higher prices are definitely inbound, even if the stablecoin market cap surpassed $160 million after months of stagnation.

The specific stablecoins boosting circulation also revealed how user demand is advancing. Nansen data noted that Circle’s USDC, Tether’s USDT, Maker’s DAI, Paxos’ PYUSD, and USDD.





Source link

Altcoins

Solana Decentralized Exchange Altcoin Skyrockets by More Than 400% on Friday After New Exchange Listing

Published

on


A Solana (SOL)-based decentralized exchange (DEX) altcoin surged by more than 5x on Friday after South Korea’s largest crypto exchange rolled out trading support for the asset.

Traders on the Seoul-based Upbit can now purchase and unload DRIFT, the native asset for the Drift Protocol, an open-source DEX that enables transparent and non-custodial trading.

Explains the project’s whitepaper,

“Drift was designed with a goal to be capital-efficient but also protective of your assets. We achieved that by setting up sophisticated cross-margined risk engine – a system of tools with an extensive protection from over-extending risk. For instance:

  • In the lend/borrow markets, you can also use collateral for perpetual futures and trade more efficiently with spot assets.
  • Every token you deposit can earn you more through borrowing and also act as a collateral for perpetual swaps.
  • Borrowers can only borrow if they have more collateral than needed, following multiple safety measures for extra protection.”

DRIFT surged to a new all-time high of $2.60 on Friday, a 400% increase in just 24 hours when it traded at $0.51 on November 8th. The altcoin has retraced since and is trading at $1.98.

The token launched in May and has witnessed multiple bullish catalysts this year. Coinbase rolled out support for DRIFT days after its launch, and the crypto investment firm Multicoin Capital disclosed a sizable position in the asset in September.

Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Follow us on X, Facebook and Telegram

Surf The Daily Hodl Mix

&nbsp

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: DALLE3





Source link

Continue Reading

All-Time High

Why Bitcoin Will Soar Above Its Fresh Record: Van Straten

Published

on




Even after breaking through $77,000 for the first time, bitcoin’s price looks very likely to keep soaring, CoinDesk senior analyst James Van Straten argues.



Source link

Continue Reading

News

Market insider picks 5 altcoins that could make 20-year-olds millionaires by 2025

Published

on


Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

Young investors are eyeing five lesser-known altcoins that could skyrocket by 2025, transforming modest investments into wealth.

Young investors are searching for the next big opportunity in the crypto world. A seasoned analyst has spotlighted five lesser-known digital currencies that might skyrocket in value by 2025. These altcoins could transform modest investments into substantial wealth. Discover which cryptocurrencies could be the game-changers for the new generation of investors.

CYBRO presale approaches $4M milestone, sees 300% price surge

The CYBRO presale continues to attract attention across the crypto landscape, now in its sixth phase and nearing a notable $4 million raised. Since launch, CYBRO’s token price has surged 300%, climbing from $0.01 to $0.04 and capturing the interest of investors eager to participate in what aims to be a revolutionary DeFi project.

CYBRO, a DeFi platform powered by the advanced Blast Layer-2 solution, offers elevated yields on ETH and stablecoins, with AI-enhanced tools to optimize crypto earnings. Early investors with $1,000 or more in CYBRO can access the Pre-Alpha Yield Program, unlocking weekly variable ETH yields available post-Token Generation Event (TGE)—a compelling incentive for early adopters.

Early investor advantage – Unlock DeFi’s potential with CYBRO

Built to cater to investors’ needs, the CYBRO app provides a streamlined experience, supporting over 420 wallets and featuring customizable yield options averaging a competitive 10% APY. Users can select vaults by trust score, total value locked (TVL), and APY, tailoring portfolios to individual risk preferences.

CYBRO’s comprehensive tokenomics further bolster its appeal, with benefits including reduced service fees, cashback rewards, lower transaction costs, robust insurance protections, and airdrop opportunities. Currently available at a 40% discount from the anticipated listing price, CYBRO presents an entry point that some analysts suggest could deliver up to 1200% gains over the next year.

Ethereum: Proof-of-Stake blockchain powering DeFi, smart contracts, and fast transactions

Ethereum is a blockchain that uses a system called Proof-of-Stake. It’s known for programmable agreements called smart contracts and a large network of applications. It supports decentralized finance and uses tools like Arbitrum and Polygon to make transactions faster and cheaper. Ethereum introduced a type of token used in many applications for decision-making, utility, and storing value. Transactions need ETH to pay for fees. Since it was started by Vitalik Buterin, Ethereum has grown, changing to Proof-of-Stake with an upgrade called the Merge. Ether (ETH) is important to the system, allowing transactions, rewarding those who stake, and acting as an asset that can be traded and used as collateral.

Chainlink is a network that helps smart contracts connect with real-world data. Smart contracts on the blockchain become more powerful when they access external information. Chainlink works by fetching data from outside sources, checking it for accuracy, and delivering it securely to smart contracts. It uses multiple nodes to ensure the data is correct. The LINK token pays for data services and rewards those who provide data. This system makes smart contracts more useful by letting them interact with things outside the blockchain.

Aave: decentralized lending on Ethereum with flash loans and AAVE governance

Aave is a cryptocurrency that powers a decentralized lending system on Ethereum. It lets users lend, borrow, and earn interest on crypto assets without middlemen. Aave uses smart contracts to manage funds, relying on code instead of banks. It supports 17 cryptocurrencies for lending and borrowing. Lenders receive aTokens that represent their deposits and earn interest.

Aave is known for flash loans, which are instant and require no collateral but must be repaid within the same block. The AAVE token is central to the system, offering fee discounts and voting rights on changes. It can also be used as collateral with added benefits. The platform includes a Safety Module for staking to manage risks, and AAVE’s limited supply can enhance its value.

Sui: A new layer-1 blockchain enhancing scalability and user experience

Sui is a blockchain platform built to support global users with a secure and scalable environment. It uses a unique object-centric data model and the Move programming language to solve problems found in other blockchains. Sui focuses on making blockchain interactions smoother by removing common hurdles. Features like zkLogin, sponsored transactions, and programmable transaction blocks help make applications more user-friendly. This approach aims to make blockchain technology more accessible and easier to use for everyone.

Uniswap’s UNI: decentralized trading and community governance

Uniswap is a decentralized exchange on the Ethereum blockchain. It uses an automated liquidity protocol, allowing trading without an order book. Users keep full control of their funds, improving security and accessibility. Uniswap’s governance token, UNI, lets holders vote on platform changes like fee structures and token distribution. To encourage loyalty, Uniswap gave 150 million UNI tokens to past users, each receiving 400 UNI tokens worth over $1,000 at launch. As a result, UNI holders can influence the platform’s future direction. Uniswap is the fourth-largest DeFi platform, with over $3 billion in assets. Its open-source technology and free token listing set it apart from centralized exchanges. The blend of decentralized trading and community governance highlights the potential for user-driven financial platforms.

Conclusion

In conclusion, while established cryptocurrencies like ETH, LINK, AAVE, and SUI may offer less potential for rapid gains in the short term, CYBRO stands out as a remarkable opportunity for investors seeking significant returns. As a technologically advanced DeFi platform, CYBRO enhances earnings through AI-powered yield aggregation on the Blast blockchain. Its features include attractive staking rewards, exclusive airdrops, and cashback on purchases, all designed to provide a superior user experience with seamless deposits and withdrawals. By focusing on transparency, compliance, and quality, CYBRO has attracted strong interest from prominent crypto investors and influencers. This positions it as a promising project for those looking to maximize their investments during the current market uptrend.

For more information, visit the official CYBRO website and join the community on X, Telegram, and Discord.

Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.





Source link

Continue Reading
Advertisement [ethereumads]

Trending

    wpChatIcon