Kategorie: Crypto News

Daily crypto headlines and news about bitcoin, ether, ripple, solana, altcoins, nft, market, business, analysis, nft, metaverse, minting and mining.
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Cosmos (ATOM) brings IBC-enabled dApps to Avalanche

  • Cosmos’ IBC-enabled dApps are coming to Avalanche via the Landslide Network protocol.
  • Landslide will release a testnet on November 1.
  • The development will benefit both Cosmos and Avalanche ecosystems.

Cosmos Hub (ATOM), Avalanche (AVAX) and more than 100 IBC-enabled chains are set to benefit from interoperable connection thanks to the integration of the Inter-Blockchain Communication (IBC) protocol by the Avalanche subnet Landslide Network.

The development was announced on Tuesday, October 31 by the Interchain Foundation (ICF). Landslide’s incentivized testnet goes live on November 1, the ICF said.

Bringing IBC-compliant dApps to Avalanche

According to the Interchain Foundation, the Landslide team has developed an IBC light client on Avalanche, in collaboration with software development firm Strangelove.  

Ava Labs said in a statement that the development will see cross-chain communication come to Avalanche via CosmWasm smart contracts. The shared innovation resulting from the new gateway will benefit both the Cosmos and Avalanche ecosystems.

“This initiative is set to revolutionize the DeFi ecosystem by enabling IBC-compliant dApps to run seamlessly on the Avalanche network,” the Interchain Foundation posted on X.

Today’s news came as the price of ATOM spiked to $8.15, its highest level since August 15. Meanwhile, AVAX traded to highs of $11.65 as bulls looked to hold onto gains seen since October 19.

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Tether attestation shows cash & cash equivalents rose to 85.7%

  • Tether, the issuer of the USDT stablecoin, has released its Q3, 2023 attestation report.
  • It shows the company’s cash and cash equivalents increased to 85.7% of reserves, with $72.6 billion in US T-Bills.
  • Tether holds $1.7 billion in BTC and $3.1 billion in gold.

Tether has released its attestation report for Q3, 2023 that shows the USDT stablecoin issuer’s cash and cash equivalent reserves have risen to its highest ever percentage share of total reserves.

Per the report published Tuesday, cash and cash equivalents stood at 85.7% as of September 30 this year. Of this, the largest percentage was in US T-Bills at $72.6 billion – which were in both direct and indirect exposure.

Tether also reported a significant reduction in its secured loans, with this at more than $330 million.

“We’ve achieved the highest ever percentage of our reserves held in Cash and Cash Equivalents, signaling our dedication to maintaining liquidity and stability within the stablecoin ecosystem. Our ability to reduce secured loans and weather market volatility is a demonstration of our robust risk management strategies,” Tether CEO Paolo Ardoino said.

Tether’s Bitcoin, gold holdings

Cash and cash equivalent investments returns in the quarter was nearly $1 billion, while investments in industry-related research projects was $670 million for the quarter and $800 million for the year. Notably, the USDT issuer says the investments do not constitute part of the stablecoin’s reserves.

The consolidated reserves shows $1.7 billion in Bitcoin (BTC) and $3.1 billion worth of gold. Meanwhile, excess reserves as of the end of the third quarter was $3.2 billion and forecast $4.3 billion for October 31. That will leave roughly $0.9 billion in secured loans as part of the total reserves.

Tether issuance stood at $83.2 billion as of the end of Q3, and up to $84.5 billion by the end of October, 2023, the company noted in the report.

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BREAKING: Floki says Bitget listed a “fake version of $TOKEN”

  • Bitget announced the delisting of TokenFi (TOKEN) citing potential price manipulation and liquidity issues.
  • Floki has responded by saying the exchange listed the tokens against requests not to at the time.
  • The listed version was reportedly a fake one, apparently the listing resulted in millions worth of trades.

The Floki team has responded to Bitget’s delisting of TokenFi (TOKEN) by saying that the crypto exchange ignored requests not to list the token until after seven days of it going live.

What is Floki saying about $TOKEN listing on Bitget?

Apparently, Bitget disregarded this request and listed $TOKEN, which Floki now says was a “fake version”. It also went on to allow trades worth millions of dollars on the token, allegedly without holding the equivalent in assets to facilitate customer withdrawals.

One of the announcements warning against the fake $TOKEN is this:

Floki accuses Bitget of listing $TOKEN 12 minutes before the tokens officially became tradable.

“Not only did #Bitget list a fake token, which they claim to be associated with Floki, against our request and before our token officially went live, they also DECEPTIVELY traded tens of millions of dollars in $TOKEN volume without any blockchain evidence of them having a single unit of the actual token in any of their wallets to represent user purchase of these tokens on their exchange,” a statement posted on X reads.

The said fake $TOKEN listing has left Bitget with a $10 million hole that they need to plug, with this requiring about 10% of the TokenFi total supply. However, since most of the supply is currently locked in Floki’s staking pool, a lack of liquidity sees the exchange unable to buy $TOKEN from the market.

As highlighted earlier, Bitget had accused Floki of not providing enough liquidity after its token launched and cast doubts on the tokens’ treasury and vesting schedule. 

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Starknet launches 50M STRK reward program for early contributors

  • The Starknet Foundation is the organisation behind the Ethereum layer-2 blockchain platform Starknet.
  • Starknet’s native token is $STRK and is expected to go live in April, 2024.
  • Early ecosystem contributors will benefit from a 50 million $STRK allocation.

The Starknet Foundation, which is helping to develop the Ethereum layer-2 rollup Starknet, has revealed an Early Community Member Program (ECMP). The program aims at rewarding and incentivizing further support from early ecosystem contributors.

Application is open to all builders, technical and non-technical, the organisation said in an announcement on Monday.

50 million $STRK allocated to initiative

According to the Starknet Foundation, the ECMP is for Starknet believers. It’s meant to recognise the vital role played by early contributors via a reward program using the native Starknet token $STRK. 

The foundation has thus earmarked 50 million ion of $STRK for this program.

Per the announcement, the initiative will have phase one focus on individual contributors to technical discourse, key projects, event organisers and regular publishers of Starknet branded content. A committee will consider feedback after the first phase and decide on whether to embark on a second phase that would come with additional criteria.

Eligible individuals have between October 30 and November 23, 2023 to submit their applications. The committee is expected to deliver its decision on December 29, 2023. $STRK tokens are expected to be live traded as from April next year.

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Everlodge on the rise: can it match Bitcoin and Ethereum’s growth?

In the rapidly evolving realm of cryptocurrencies, a new player is making waves: Everlodge (ELDG). This burgeoning contender is in its presale phase, yet showing potential to challenge the dominance of established giants like Bitcoin (BTC) and Ethereum (ETH).

This article delves into Everlodge’s remarkable ascent, exploring whether it has what it takes to rival the market leaders’ supremacy.

Everlodge’s innovative approach to luxury investment

Everlodge is setting a new trend in the luxury real estate arena, making it possible for the average person to hold stakes in luxurious vacation properties starting at just $100. By leveraging the power of NFTs, each representing a share of a property, they are dismantling the longstanding barriers to elite real estate ventures.

All necessary legal and ownership details are carefully encrypted into the metadata of a strong smart contract. The resulting digital tokens are then segmented to allow interested investors to participate in prime real estate opportunities without spending a fortune.

But there’s more. Everlodge isn’t just a marketplace; it doubles as a launchpad for budding property developers. They can tap into the community, sourcing funds for their ambitious projects. It’s a symbiotic setup – developers get the required capital, and users get a shot at lucrative early-bird opportunities.

ELDG is the primary currency in the Everlodge world. It serves as the platform’s heartbeat. Holding onto ELDG tokens offers a range of benefits, such as trading discounts and reduced maintenance charges. Token staking provides an opportunity to earn a consistent monthly yield, enabling passive income.

The buzz is real. Currently, ELDG tokens are up for grabs at just $0.23 each in the sixth phase of the presale. This rate isn’t here to stay, as it is set to keep rising as more people jump on board.

Once the presale ends, ELDG will debut in tier-one exchanges, potentially catapulting its value. Market whispers hint at a colossal 30x surge post the token’s debut on leading exchanges.

For more information about the Everlodge (ELDG) Presale you can visit their website or join their community here.

Evaluating recent Bitcoin (BTC) price movements

Bitcoin’s journey has been nothing short of a rollercoaster lately. After a promising kick-off to the year, the cryptocurrency took a surprising dip in mid-August, plummeting from $30k to a worrying sub-$25k. The price has since rebounded to the current price of $26.3K.

So, what’s causing Bitcoin’s fall from grace? The prevailing sentiment is a thirst for fresh liquidity in the Bitcoin market. The buzz surrounding a potential Blackrock ETF did give Bitcoin a short-lived 20% boost, but the uncertainty around the SEC’s verdict has left the market in a lull.

All eyes are now on the anticipated Bitcoin halving in 2024. Historically, such events have revitalized Bitcoin’s momentum, but the crypto realm remains inherently unpredictable. The consensus is growing that Bitcoin’s resurgence is tied to the approval of the Blackrock Bitcoin ETF.

With whispers suggesting that an ETF decision might be pushed to 2024, several Bitcoin enthusiasts are exploring other opportunities. Many are gravitating toward the Everlodge presale, eager to secure tokens while they’re still affordable.

Ethereum (ETH): price resistances and network activities

Ethereum remains a powerhouse within the DeFi arena, boasting an impressive Total Value Locked (TVL) that exceeds $20 billion across various platforms. Its foundational crypto role and robust developer resources underscore its sustained relevance.

The allure of Ethereum isn’t limited to individual investors; institutional powerhouses are increasingly swayed by its capabilities, especially in the realm of smart contract development.

A buzz surrounds the potential unveiling of an Ethereum-centric ETF by Blackrock, which, if realized, would catapult Ethereum into the portfolios of a broader spectrum of investors, promising significant growth.

However, price-wise, Ethereum is wrestling with challenges. The resistance level within the $2,000 to $2,100 bracket has proven formidable. A recent slip saw Ethereum’s price spiralling downwards by 15% in just one day.

Coupled with this price dip, a drop in network activity and fears of substantial sell-offs have shadowed uncertainty over Ethereum’s trajectory. This sentiment is underscored by a staggering 50% drop in Ethereum’s TVL since its 2023 peak of $32 billion in April.

Amidst this backdrop, Ethereum holders are looking over their shoulders at Everlodge, a nascent blockchain project whose potential challenges Ethereum’s dominance. While Ethereum competes in a highly competitive atmosphere with other layer-1 platforms, Everlodge offers a unique product in the $280 trillion real estate market.

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