Author: Ellen Grigsby

Ellen is CMN's recently joined crypto enthusiast with over two years of experience writing about blockchain and cryptocurrencies. Ellen's passion for Bitcoin and crypto's

XRP

David Schwartz, CTO of Ripple, has requested that XRP Ledger (XRPL) validators enable the automated market maker (AMM) capability, but only if there is community agreement. AMMs are the exciting decentralized finance (DeFi) innovation that is attracting attention, according to Schwartz, who started a discussion on the XRPL’s AMM functionality on X (formerly known as Twitter). The XRP Ledger, a decentralised blockchain-based ledger that underpins the XRP cryptocurrency, is renowned for its scalability and speed, making it appropriate for a range of financial applications, including cross-border payments and remittances. After the vote, a community member inquired about the timeframe for…

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Geopolitical concerns entered traders’ radar as Bitcoin (BTC) continued to put pressure on the $28,000 level. According to information from TradingView and Cointelegraph Markets Pro, BTC price performance during the weekend avoided downward volatility. The pair bounced back from a quick retest of $27,000 on October 6 as a result of unexpected US employment statistics that deviated from Federal Reserve policy changes. The $28,000 resistance served as the primary focus for market players heading into the upcoming week. Popular trader Skew stated in a low timeframe (LTF) study of exchange order books that significant bidding strength was still needed to…

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On October 10, the developer course feature of OpenBuild, a Web3 developer community, will go live. Strategic alliances between the platform and initiatives and communities like Consensys, Chainlink, Conflux, 852dev, Aya, and Denglian have already been formed. 22 systematic developer classes in the first group will cover a range of technical topics, such as Solidity, ZK, Move, and Solana. The following phase will see the introduction of more open-source systematic courses. Bounty and employment capabilities will also soon be available, encouraging additional business partnerships between demand-side partners and developers. Developers can receive incentives based on their development skills, which contributes…

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23pds, SlowMist’s chief information security officer, recently tweeted about the rise in DNS hijacking occurrences. Both Balancer and Galxe have fallen victim to takeover attempts. Many businesses are vulnerable to subdomain hijacking, it was found after studying over 6 million DNS records, A records, and CNAMEs pointing to cloud infrastructure. Due to the 21% of DNS records that refer to unresolved material, firms may be vulnerable to subdomain and domain hijacking. To fend off attacks, cryptocurrency businesses are recommended to exercise caution and pick well-known domain registrars.

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On October 5, the European Union’s market watchdog, the European Securities and Markets Authority (ESMA), published a second consultative paper on Markets in Crypto-Assets (MiCA) mandates. The ESMA asks for stakeholders’ opinions on five MiCA topics in the 307-page document, including sustainability indicators for distributed ledgers, disclosures of inside information, technical specifications for white papers, trade transparency measures, and record-keeping for crypto-asset service providers (CASPs). The authority includes quantitative measurements on energy use, greenhouse gas emissions, and waste creation in its list of sustainability indicators, along with a qualitative assessment of the effects of equipment use by blockchain network nodes…

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According to a recent Nansen analysis, Stride, a protocol built on the Cosmos ecosystem, presently controls more than 80% of the ecosystem’s market share. Stride’s governance token, STRD, has had a 330% growth year to date despite the market’s continuing downward trend, outperforming both Ethereum (ETH) and Lido’s native token (LDO) in terms of price performance. Stride competes with Lido, a market leader in liquid staking derivatives (LSD). According to the research, STRD has a market valuation of over $72.29 million, an FDV of about $82.58 million, and a TVL/FDV ratio of just 2.1. Given its genuine yield revenues to…

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Avalanche newcomer Earlier afternoon, hackers used a smart contract that helped protect tokens on the social platform to drain Stars Arena of nearly all their cash. Avalanche’s AVAX tokens were depleted for about $3 million, leaving Stars Arena with little under $1 after the attacker. User @0xLawliette of X, formerly known as Twitter, appeared to have initially alerted to the vulnerability on Saturday AM in Asia, but yesterday, @0xlilitch issued a security alert. Avalanche community members rapidly adopted Stars Arena after its less than one-week-old launch, and some of them have even made up to 1,000 AVAX in trading fees…

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Smart investors are constantly looking for the next excellent cryptocurrency to buy as the crypto market changes. Among the wide range of tokens available, a few gems valued under $0.10 are demonstrating not just promise but also the possibility of a return of up to 150 times their worth. Three of these leading altcoins—InQubeta ($QUBE), Vechain, and Borroe.Finance—are highlighted in this article. Each of these projects offers a distinct value proposition, supported by a solid utility and a distinct vision. Connecting Investors with AI Innovations with InQubeta ($QUBE) InQubeta’s mission is at the top of our ranking since it is…

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On October 6, Elon Musk streamed himself playing the well-known online action role-playing game Diablo 4 for 50 minutes to test video game broadcasting on the X platform, formerly known as Twitter. Musk discussed the objectives for the feature, which is still under development, during the stream and expressed pleasure with the work that has been done by the developers thus far. Musk responded to queries from users and expanded on what X is striving for, revealing that the platform would soon feature streaming for Xbox One and PlayStation 5. He emphasized that although specialty applications might still be superior…

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With over $300 million in damages, September has emerged as the most lucrative month for cryptocurrency attacks in decentralised finance (DeFi) in 2023. The Mixin Network incident on September 23, when the Hong Kong-based decentralised cross-chain transfer protocol lost $200 million owing to a compromise of its cloud service provider, was the largest contributor to the month’s totals, according to blockchain security firm CertiK. Other DeFi news includes Yield Protocol’s announcement that it will close before the end of the year due to a lack of commercial demand and external regulatory pressures. After the December 2023 series expires, which is…

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In an effort to fight activist investors who had amassed a sizeable interest in the project’s governance tokens, NFT finance-focused cryptocurrency company FloorDAO has divided into two independent corporations. A separate organisation dubbed FloorkDAO, controlled by the activist investors, has received more than $2.5 million in crypto tokens and NFTs from FloorDAO, which wants to create products for NFT-Fi. The funds were soon divided among the investors, who valued each FLOOR token at close to $5, up from $1.89 at the start of the year. The value for investors who decided not to leave FloorDAO and kept their holdings is…

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Lava Pool was established by Volcano Energy and Luxor, making it the first Bitcoin mining pool in El Salvador. The goal is to utilise the nation’s geothermal energy potential. The change occurs almost two years after El Salvador declared that BTC would become legal tender. Volcano Energy will now mine Bitcoin locally and give the government 23% of its net income. The initiative for private-public partnerships will be used for this. The pool will only be used to mine BTC. The operations will be supported by the Luxor Hashrate Forward Marketplace. For the purpose of reducing the risk of price…

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In the most recent round of seed fundraising, Phaver has raised $7 million. Among the investors are SwissBorg, Nomad Capital, Polygon Ventures, and Foresight Ventures. With an estimated value of $80 million, this brings the company’s total funding raised to $8 million. According to Phaver, the majority of the funding will be used to build partnerships, develop products, and grow the workforce. Making Web3 onboarding seamless is the main goal of the fundraising effort. The bulk of regular users appear to avoid or forego the requirement to switch to Web3. The sphere is designated as a space for tech-savvy or…

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Leading online payment platform PayPal thrives in safe, straightforward transactions. Alternative payment methods and cryptocurrencies have exploded in today’s developing digital economy. Decentralised coins are gaining popularity since traditional systems have expensive fees and long wait times. Communities are embracing these options more frequently. The broad acceptance of digital currencies has been facilitated by this spike in interest, which has transcended different demographics. The popularity of alternative payment methods has also increased, thanks largely to their user-friendliness and easy interaction with several devices, including mobile wallets and digital payment applications. We will examine the advantages and drawbacks of cryptocurrencies and…

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With a focus on stablecoins, the Canadian Securities Administrators (CSA) has provided guidance to exchanges and cryptocurrency issuers on its temporary approach to value-referenced digital assets. The group, which stands in for Canada’s provincial and territorial securities authorities, clarified on October 5 that, subject to certain criteria, it may allow trading of particular cryptocurrencies that correspond to the value of a single fiat currency. Stablecoins may be regarded as securities or derivatives, and Canadian cryptocurrency exchanges are not permitted to trade them, the CSA reiterated in February. However, if issuers keep a sufficient reserve of assets with a certified custodian…

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The UK’s PAY360 Awards have recognised Ripple for its innovation in digital currency. The blockchain industry was acknowledged as the pioneer in digital assets and currencies for financial services. The accomplishment was announced on Twitter by Sendi Young, managing director of Ripple’s European operations, who was praised and thanked by the XRP community. Along with the PAY360 Awards, Ripple has recently seen a number of favourable changes. On October 3, the business achieved a significant victory in its ongoing legal battle with the Securities and Exchange Commission of the United States (SEC). The regulator’s request to appeal a ruling from…

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Following the Merge and Shanghai upgrades, JPMorgan has raised concern over the centralization and decreased staking yields in the Ethereum network. The bank stated in a study report that more ETH staking has resulted in a more centralised network and a decline in total staking yield. According to the report, Lido, a decentralized liquid staking platform, is preferred by many members of the cryptocurrency ecosystem over centralized liquid staking platforms linked to centralized exchanges. To address centralization issues and prevent any one operator from owning a significant portion of the staked ether, Lido has been increasing the number of node…

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The extreme volatility of meme currencies is one of their defining characteristics. Since they can rise and fall equally swiftly, any astute investor who purchases during market lows can benefit greatly from a bull market. The four meme coins that have been performing well throughout the bear market will be covered in this post. These cryptocurrencies have maintained their growth throughout the decline, indicating real possibility for making a significant return under more favourable market circumstances. Which meme coins are expected to be popular in 2023? The meme coin market appears prepared to profit as the crypto markets may be…

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A trader on Taiwan’s MaiCoin Max cryptocurrency platform has won the nation’s monthly tax receipt lottery for 10 million NTD ($310,000). The “Uniform Invoice Lottery” mandates that merchants with a specific level of revenue give customers an official receipt that also serves as a lottery ticket number. The tax authorities receive a digital copy of the receipt as well. They then conduct a monthly drawing for cash rewards, with the top prize being 10 million NTD ($310,000). Since every deal made on MaiCoin’s platform generates taxable profit and service fees, it is subject to this lottery system. MaiCoin is Taiwan’s…

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With its cryptocurrency-powered software, Blackbird Labs connects eateries and customers. The company has raised $24 million in a succession of funding rounds. the venture capital firm Andreessen Horowitz (a16z), which spearheaded the funding round. Customers can create a non-fungible token (NFT) membership using the app by touching their phone on an NFC scanner, which is built on Coinbase’s Layer-2 Base blockchain. Blackbird memberships come with prizes and insider benefits like SMS concierge and off-menu goodies. Ben Leventhal, the project’s CEO and co-founder of the dining network Resy, is one of the reasons why it has attracted attention from the general…

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