An Ethereum (ETH)-based altcoin is skyrocketing after gaining support from South Korea’s second-largest crypto exchange.

In a new announcement, crypto trading platform Bithumb says that it is now supporting the interoperable cross-chain bridge Across Protocol (ACX), triggering rallies for the digital asset.

News of the event caused ACX to surge, as it went from a March 21st low of $0.275 to a peak of $0.462 just a few hours later, a rise of nearly 68%. It has since retraced and is trading for $0.319 at time of writing, a 10% gain during the last 24 hours.

In its whitepaper, Across Protocol says it is the only cross-chain platform powered by intents.

Explains Across Protocol,

“Intents introduce a third party, a relayer (alternatively named filler, or solver), that does the job of delivering assets / executing user transactions quickly. An intent is a type of order where a user specifies an outcome instead of an execution path.

In practice, intents manifest as a combination of a cross-chain limit order and an action to execute, all encoded within a standardized order structure. Relayers compete on cost and speed to fill these orders, which can include on-chain actions as well as assets. Relayers deliver very quickly, without any messages.

From the user’s perspective, interoperability is solved. Their desired outcome is achieved.”

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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.

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Binance is planning on launching trading support for the new native asset of a decentralized network focused on secure data storage.

Binance Launchpool, which lets users stake coins to farm new assets, says its 65th project will be Nillion (NIL), a secure computation network that decentralizes trust for high-value and private data.

Explains the project,

“Nillion is Humanity’s First Blind Computer – a whole new category of decentralized network designed for AI and the future of the Internet. Nillion makes new applications possible by providing storage and computation on high-value, encrypted data without ever seeing it. Whether a user, an app, or an enterprise, your data stays yours – always.”

Between March 21st and 24th, Binance users can lock their BNB, the crypto exchange platform’s native asset, as well as the stablecoins First Digital USD (FDUSD) and USDC, to receive NIL airdrops.

The top global crypto exchange then plans to list the asset on March 24th. Binance will attach a seed tag to NIL, which the exchange applies to lower-liquidity projects that may exhibit higher volatility compared to other listed tokens.

Binance requires users who own assets with seed tags to pass quizzes every 90 days to ensure they’re aware of the risks before trading the tokens.

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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.

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A multi-million dollar guaranteed income pilot program is preparing for launch after a US state’s executive and legislative branches gave the green light.

The new initiative is designed to help citizens living in the low-income bracket in California.

The program, tentatively known as “Guaranteed Income Older Adults,” will target individuals who are 60 years of age or older residing in the state, and who are either eligible for or receiving a means-tested benefit of some kind from the government.

The California Department of Social Services (CDSS) says the total funding for the pilot program, which is catered for in California’s budget for the 2024/2025 fiscal year, will be $4.75 million.

Amid plans to roll out the guaranteed income pilot program, the CDSS says it held community listening sessions last year.

Some of the recommendations received include setting a minimum payment of $500 per month for at least half a year.

The CDSS says the minimum number of participants recommended for the pilot program was 200. A recommendation was also made to give the participants liberty to decide whether they want recurring payments, in a lump sum or a combination of both.

Ahead of the rollout of the Guaranteed Income Older Adults pilot program, the CDSS is now seeking a public or private nonprofit organization to run the project for three and a half years.

Those applications must be submitted by April 9th and the chosen application will be announced on June 25th.

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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.

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