Kategorie: Crypto Markets

• IOTA continues strategic expansion with first DLT Foundation in the UAE’
• The IOTA Foundation will allocate $100 million to the initiative.
• IOTA price was rallying after the news, up 50% at the time of writing.

IOTA’s strategic expansion has reached another milestone with the registration of the first DLT foundation in the United Arab Emirates (UAE).

The IOTA Foundation first announced plans for the foundation in September, highlighting registration with the Abu Dhabi Global as a step that would aid IOTA’s expansion in the Middle East and North Africa (MENA) region. The news came as the IOTA price spiked more than 50% to above $0.26.

IOTA Foundation allocates $100 million to initiative

Per today’s announcement, an investment of over $100 million has been allocated for the DLT Foundation, with the funding done in IOTA tokens. These will be vested over the next four years as the foundation looks to nurture innovation and adoption of the IOTA protocol.

The funding will also go towards community-driven projects and regulatory synergy, the IOTA Foundation said. Among initiatives to receive greater attention will be those targeted at IOTA and Shimmer, its staging network.

On what this means for IOTA’s push to align with regulatory developments, IOTA co-founder Dominik Schiener, said:

“The IOTA Foundation’s support from ADGM and our partnership with UAE authorities is about more than global expansion. It’s about ushering in a new era of regulatory synergy in the crypto markets. We want to ensure that we take the right steps toward digital autonomy for everyone, and that means making sure a diversity of communities take an active role in shaping the Foundation’s technology and governance.”

IOTA’s partnership with the ADGM comes as the UAE increasingly becomes an important international crypto destination. As a leading financial center, the country has attracted several blockchain and crypto-related companies.

Today, stablecoin issuer Paxos announced it had secured two in-principle approvals from the Financial Services Regulatory Authority (FSRA). The company is now set to issue stablecoins and provide brokerage and custody services in the ADGM.

The post IOTA announces $100 million Ecosystem DLT Foundation in the UAE appeared first on CoinJournal.

• Bonk (BONK) price rising after KuCoin listing.
• Dogecoin’s on-chain activity resurges.
• Additionally, Dogecoin’s DOGE-1 mission to the moon has been approved.

Recent meme coins’ developments have stirred excitement and intrigue among cryptocurrency investors and enthusiasts alike. This news update covers the notable surge in Bonk (BONK) following its listing on KuCoin, the approval of the Dogecoin-funded DOGE-1 Mission to the Moon, and the resurgence of Dogecoin (DOGE) with a surge in on-chain activity.

Additionally, we delve into the ongoing presale of Shiba Memu (SHMU), a unique meme token with self-sufficient marketing capabilities.

Bonk (BONK) soars on exchange listing

Cryptocurrency investors witnessed a remarkable surge in the price of Bonk (BONK) as it jumped following its listing on the crypto exchange KuCoin.

At the time of writing, BONK had risen by 18% in the last 24 hours, reaching $0.00000451.

The KuCoin listing announced through a tweet by Bonk, triggered increased liquidity and accessibility for users and investors. The listing celebration includes a campaign with a BONK prize pool worth $58,000 for qualified users, fostering further engagement within the community.

Dogecoin’s moon mission DOGE-1 gets NTIA approval

In another groundbreaking development for meme coins, the Dogecoin-funded DOGE-1 Mission to the Moon has achieved a significant milestone by receiving approval from the National Telecommunications and Information Administration (NTIA).

This clearance is a crucial precursor to obtaining the final Federal Communications Commission (FCC) license, addressing the X-Band and S-Band communications for the satellite. Set to launch on December 23 as part of Astrobotic’s Peregrine Mission One, the mission marks a collaborative effort with payloads from prestigious entities, including NASA.

Dogecoin’s on-chain activity surge

In addition to the positive news about its moon mission, Dogecoin (DOGE) is also experiencing a resurgence in popularity, marked by a notable increase in on-chain activity.

According to on-chain analytics firm IntoTheBlock, the number of addresses holding Dogecoin has surpassed five million, reaching a new peak of 5.11 million addresses.

The surge is accompanied by a doubling of active addresses, reaching 168,000—the highest since March 2022. Confirmed transactions on the Dogecoin blockchain have spiked, experiencing a remarkable 1,000% increase in the past 10 days. Despite a recent price decline, the heightened on-chain activity indicates growing interest from institutional investors and large holders.

Shiba Memu (SHMU): the new meme coin disrupting the market

Shiba Memu (SHMU), though a new meme coin, stands out with its self-sufficient marketing capabilities powered by AI technology. Currently, in the presale phase, Shiba Memu aims to revolutionize meme token marketing by creating its own strategies and engaging with users directly through an innovative AI dashboard.

The presale is coming to an end in the next 30 days, and potential investors should take note of the unique pricing mechanism – the SHMU token price increases every few hours during this presale period. The project’s whitepaper outlines ambitious plans, including the launch of an AI marketing dashboard, integration with decentralized applications, and continued development for long-term growth.

For more information about the Shiba Memu presale, you can visit their official website here.

The post New altcoin steals the show as Bonk surges on KuCoin listing and Dogecoin’s on-chain rises appeared first on CoinJournal.

• Chainlink has announced its Staking v0.2 is live, with a pool size of 45 million LINK. 
• v0.1 stakers are eligible to migrate their staked LINK from November 28.
• Minimum stake for community is 1 LINK and for node operators 1,000 LINK.

Chainlink has officially upgraded its staking mechanism, with the new Staking v0.2 going live on November 28.

The v0.2 staking will feature a 45 million LINK pool, with this accounting for 8% of the blockchain project’s circulating supply.

Announcing that v0.2 was now live on the Ethereum mainnet, the Chainlink team said that existing v0.1 stakers were eligible to migrate their staked LINK with effect from November 28. The group’s accrued v0.2 rewards will give them access during a 9-day Priority Migration phase.

LINK holders will have access from December 7, with this subject to “predefined eligibility requirements”, while general access is scheduled to kick off from December 11.

#Chainlink Staking v0.2 is officially live on mainnet ⬡

Starting today, existing v0.1 stakers have a nine-day window to migrate their staked LINK and accrued rewards to the 45M LINK v0.2 pool, with guaranteed access before Early Access begins.

🧵https://t.co/pcFAVXct3L

— Chainlink (@chainlink) November 28, 2023

Minimum stake for community is 1 LINK

Staking plays a crucial role as a core initiative in the economic structure and security of the Chainlink network. With staking, network participants such as node operators back the ecosystem by locking up their LINK, thereby helping secure the oracle services. In return, stakers earn rewards.

According to details in today’s press release, the staking limits will be a minimum of 1 LINK and maximum of 15,000 LINK for the community. Meanwhile node operators will have the opportunity to stake a minimum of 1,000 LINK and maximum of 75,000 LINK.

Anyone can stake up to the said limit amounts as long as the pool remains open. 

Of the 45 million LINK, a pool size share of 40,875,000 LINK has been allocated to the community members. The rest, 4,125,000 LINK will be open to node operators that are currently servicing the Chainlink Data Feeds.

The post Chainlink opens v0.2 staking with 45 million LINK pool appeared first on CoinJournal.

• Changpeng Zhao has reportedly resigned from the Binance.US Board of Directors.
• The former Binance CEO has also relinquished his voting rights in the US affiliate and will not participate in any governance decisions.

Binance.US has announced that Changpeng Zhao, who recently resigned as the CEO of the global crypto exchange Binance, has stepped down as Chairman of the Board of Directors.

CZ has also transferred his voting rights and will no longer be involved in the US-based crypto platform’s governance, according to a statement posted on X on Tuesday.

“As CZ transitions to life after Binance, he has decided to step down from his role as Chairman of our Board of Directors and transferred his voting rights through a proxy arrangement, whereby his interest in the company is purely economic and he will no longer be involved in our governance,” the company said in the post.

The update by the Binance.US team also pointed out that while it may share the Binance brand and technology stack with the global company that agreed a $4.3 billion settlement with the US authorities, that’s as far as it goes.

“Binance.US is not a party to the settlements announced last week, nor do we have any outstanding enforcement matters with the DOJ, FinCEN, OFAC, or CFTC.”

According to the statement, Binance.US is “fully operational” and will continue to serve its customers, offering the same products and services they did before the recent developments.

SEC sued Binance and Binance.US

The US Securities and Exchange Commission (SEC) sued Binance, founder Changpeng Zhao and its US affiliate Binance.US in June.

SEC’s charges include allegations that Binance operates unregistered exchanges, broker-dealers and clearing agencies. The world’s largest cryptocurrency exchange by trading volume also misrepresented trading controls to let high-value US customers trade on the Binance.com platform.

The regulator also alleged the crypto platforms offered and sold unregistered securities. 

The post Changpeng Zhao resigns from Binance.US board appeared first on CoinJournal.

• dYdX trading and launch rewards went live on the dYdX Chain on November 28.
• dYdX users can now earn rewards for using the dYdX Chain, with $20 million set for launch rewards.

dYdX trading rewards are live on the dYdX Chain, the decentralised derivatives trading protocol announced on Tuesday.

This comes as the platform began its full trading after progressing from the beta stage, with the move made possible following a community vote. 

dYdX Chain progresses to full production trading

The dYdX Chain’s mainnet beta went live on November 14, with trading available across 33 markets and offering leverage of up to 20x. The platform recorded more than $1.86 million in trades across some 14k transactions over the two weeks.

1/ Trading and Launch Rewards are live on dYdX Chain! ✨

Traders can now earn rewards when they use dYdX Chain available via the @dydx_ops_subdao!

Let’s dive into the details:https://t.co/MGiRUzBSMV pic.twitter.com/BinqsKw5x7

— dYdX (@dYdX) November 28, 2023

With 100% of trading fees accrued by traders, the launch of full production trading on November 28 opens up trading rewards distribution to users. Unlike staking rewards, trading and launch rewards were inaccessible to traders during the beta stage. 

Rewards are paid in the native DYDX token.

“Following the conclusion of the governance vote earlier today, trading rewards are now fully enabled. Staking rewards for validators and stakers will continue to be paid in USDC and DYDX,” the dYdX Chain team wrote in a blog post.

Approximately 50,000 DYDX are available to traders as rewards each day and will be distributed immediately rather than traders having to wait for a month.

$20 million approved for launch incentives program

Other than the trading rewards, the community is also poised to benefit from a launch incentives program. Chaos Labs, an economic security and risk management platform for DeFi protocols, will manage the program while the dYdX Foundation will handle the distribution.

$20M of DYDX was approved for the incentives, with the funds taken from the dYdX Chain Community Treasury. The rewards will be distributed to the community over the next six months – 80% of which will be for trading activity and 20% for market maker activity.

According to today’s announcement, the launch incentives program will monitor the protocol, with possible adjustments to the above weights taken in tandem with the activity on dYdX Chain.

Full trading on the dYdX Chain will initially support four markets – Ethereum (ETH), Bitcoin (BTC), Solana (SOL) and Chainlink (LINK). 

New markets will be added continuously over the next few weeks, with these available via the dydx.trade frontend operated by the dYdX Ops subDAO, a community-run dYdX DAO.

The post dYdX trading and launch rewards live after governance vote appeared first on CoinJournal.