Schlagwort: crypto business

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Cronos (CRO) rolls out “Smarturn” upgrade for advanced EVM features

  • Cronos EVM v1.5.0 has officially debuted today, October 30.
  • The upgrade introduces new EVM opcodes, smart accounts, and enhanced interoperability.
  • Smarturn targets a more flexible, faster, and developer-friendly blockchain.

The Cronos blockchain has announced the launch of its anticipated Smarturn upgrade, welcoming a new era in its network evolution.

The update brings significant improvements across Cronos’s Ethereum Virtual Machine (EVM), including increased interoperability, enhanced ecosystem performance, and smooth wallet functionality.

According to the announcement:

This mainnet upgrade marks a major leap in Cronos’ evolution – unlocking smart accounts, new EVM features, and improved performance for developers and users alike.

The blockchain temporarily paused operations for roughly 60 minutes to integrate the new components.

Meanwhile, services are resuming gradually as the Cronos ecosystem undergoes a key milestone.

Smarturn aims to revolutionize Cronos through speed and compatibility using its unique innovations.

Smarter accounts arrive on Cronos

The high-end EIP-7702 smart account support is at the core of Cronos’ latest upgrade. With this feature, regular user wallets (Externally Owned Account (EOA) can perform like smart contract wallets.

That helps unlock capabilities previously possible via different accounts. According to the official blog:

EIP-7702 bridges this gap by letting EOAs act like smart contracts. The assigned contract code remains valid until the account issues a new authorization, which can apply to one chain or to multiple chains simultaneously.

Individuals can now perform different activities without changing account types, including using flexible gas payment methods, personalizing permissions, batching many transactions, and programming wallet behavior.

With EIP-7702, Cronos joins the few EVM-compatible platforms boasting such a level of account abstraction, merging automated control with simplicity.

The functionality will advance DeFi platforms and decentralized applications (dApps) on the Cronos blockchain through efficiency and user-friendliness.

Performance sees a massive boost

Furthermore, Cronos upgraded its EVM’s VM to operate on go-Ethereum v1.15.11, aligning with Ethereum’s Prague and Cancun upgrades.

The update aims to make contract execution and transacting cheaper and faster.

Also, it brings comprehensive client improvements and new EVM opcodes on Cronos to enhance efficiency, developer experience, and debugging. The team added:

These opcodes collectively make contract execution more efficient for complex DeFi, gaming contracts that handle multiple operations per transaction, and other computation-heavy applications.

Together, these upgrades make the Cronos EVM runtime faster, lighter, and more developer-centric.

Enhanced interoperability and tools

Smarturn also improves infrastructure for cross-chain builders and developers.

For instance, a new RPC endpoint enables the fetching of full block data in a single query.

That’s a win for dApp backends, analytics dashboards, and blockchain explorers.

Moreover, the mempool now allows users to cancel or speed up pending transactions.

That improves responsiveness amid massive network load.

Also, Cronos has adopted IBC v2 through ibc-go v10.1.1 to bolster cross-chain communication.

CRO price outlook

The alt hovered at $0.1470 after dropping roughly 1.5% the past 24 hours.

Its daily trading volume has collapsed by more than 60%, signaling faded enthusiasm.

Nonetheless, CRO reflects the broader sentiments.

Bitcoin trades below the key $110,000 after shedding nearly 3% of its value over the previous 24 hours.

Markets lost momentum after Powell’s cautious remarks concerning a rate cut in December.

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Official Trump ($TRUMP) soars 13% as meme issuer eyes Republic acquisition

  • Fight Fight Fight LLC is reportedly planning to purchase Republic’s US operations.
  • The deal might enrich the meme’s utility in payment apps and startup fundraising.
  • $TRUMP traders are enjoying profits amidst the rebound.

Bearish sentiments gripped the cryptocurrency market today as Bitcoin plunged below $110,000.

While the 2% decline in global market capitalisation confirms broader weakness, the Official Trump meme token maintained a bullish 24-hour chart.

The meme crypto extended its weekly gains to over 40% after rallying 13% the previous day.

$TRUMP continued its rally after news emerged that the company behind the project, Fight Fight Fight LLC, plans to acquire the US operations of a leading crowdfunding and investment platform, Republic.

The news stirred the digital assets community, propelling the politically charged altcoin over the last 24 hours.

What started as a satirical token tied to the US president could be evolving into a financial product that experiments with the combination of real-world finance, blockchain fundraising, and politics.

Notably, Republic offers retail and institutional investors streamlined access to startup fundraising, RWAs, and tokenised investments.

Integrating Official Trump into Republic’s ecosystem could merge meme crypto enthusiasm and real-world blockchain use cases.

Imagine investing in a themed token that funds startups, backs innovative ventures, or even supports online payments.

$TRUMP eyes real-world utility with the Republic deal

If successful, the strategic acquisition would enable Fight Fight Fight LLC to control Republic’s robust crowdfunding ecosystem.

The meme coin will possibly leverage Republic’s reputation to gain legitimacy and credibility.

Such perks can attract more investors and partnerships.

Republic’s role in fueling blockchain adoption

Republic has been vital in supporting cryptocurrency’s mainstream acceptance.

It focuses on inclusive investment models and tokenisation, allowing individuals to own fractions of real-world assets previously restricted to wealthy investors and venture capitalists.

Now, Fight Fight Fight LLC wants to gain control of Republic’s operations in the United States.

Besides boosted exposure, the deal could mean access to a regulatory ecosystem, a significant user base, and a bridge between fast-moving meme culture and traditional finance.

$TRUMP price outlook

The digital asset is trading at $8.20 after a brief correction from daily peaks.

Its daily trading volume has increased by more than 35% to $2.6 billion.

Rising volumes amid bullish price actions signal trader optimism and possibilities of continued rallies.

$TRUMP has gained over 41% the previous week, and bulls seem ready to push for more.

Moreover, prevailing whale activity suggests confidence in $TRUMP’s performance.

For instance, one trader is dominating Hyperliquid and Solana platforms with substantial bets on the meme token.

According to Lookonchain, this participant spent 5,346 Solana tokens, worth around $1.07 million, to buy 165,401 TRUMP coins on the SOL blockchain.

He entered at roughly $6.45, and is now cheering approximately $335,000 unrealized profit.

The same investor deposited $485,669 in USDC into the perp DEX Hyperliquid.

Here, the player used maximum leverage for a $9.5 million long position.

As of this writing, the trader sat on roughly $1.18 million in unrealized gains, bringing his total returns to $1.5 million.

The latest whale activity paints an optimistic picture for Official Trump in the near term.

Corporate expansion developments and the excitement around the alt as Donald Trump discusses a trade deal with China’s Xi Jinping has formed a mix of momentum and hype.

 

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Ethereum price forecast: ETH eyes $4,200 after bouncing back from recent low

Key takeaways

  • Ether is down 2% in the last 24 hours and is now trading below $4k.
  • The bearish performance comes after Wednesday’s FOMC.

Ether drops below $4k on FOMC news

Ether, the second-largest cryptocurrency by market cap, has turned bearish after losing 2% of its value in the last 24 hours. The bearish performance saw Ether temporarily drop to the $3,800 mark, but it is now approaching $4k.

Yesterday’s sell pressure came after the FOMC meeting, with the Federal Reserve cutting interest rates by 25 basis points. However, Fed Chair Jerome Powell revealed that the apex bank will end quantitative tightening on December 1st. 

This means that the Fed will reduce the financial assets it holds on its balance sheet by selling them into the financial markets, which decreases asset prices and raises interest rates. With this, it is highly unlikely that the Fed will cut interest rates in its next FOMC meeting in December.

Ethereum’s Fusaka upgrade, slated to bring increased scalability and security improvements, successfully debuted on Hoodi on Tuesday, the third and final testnet before mainnet launch. This launch didn’t push ETH’s price higher in the near term due to the broader crypto market volatility. 

ETH could bounce back above $4,200 soon

The ETH/USD 4-hour chart remains bearish and efficient as Ether is down 2% in the last 24 hours. It is now trading at $3,939 per coin and could rally higher in the near term. 

Ethereum price by TradingView

 

The technical indicators remain bearish but are showing signs of recovery following the recent dip. The RSI of 46 shows that the bearish trend is fading, with the bulls set to push its price higher over the next few hours and days. The MACD lines are also within the negative territory after flashing a sell signal on Wednesday.  

If the recovery continues, ETH could reclaim the resistance level at $4,232 over the next few hours or days. An extended rally would allow ETH to hit the 4-hour ILQ at $4,409. However, failure to climb above $4,200 in the near term could see ETH retest the $3,800 low in the coming hours or days.

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Brazil’s solar energy company, Thopen, exploring Bitcoin mining

  • Thopen plans to use surplus solar energy for Bitcoin mining.
  • The move could cut curtailment losses and boost grid stability.
  • Brazil may emerge as a leader in sustainable crypto mining.

Brazilian solar energy firm Thopen is considering a bold new move to address one of the country’s most pressing renewable energy challenges of excess electricity generation.

The company plans to explore Bitcoin mining as a way to convert surplus solar energy into a profitable and sustainable business model.

Turning surplus energy into digital gold

Brazil’s rapid expansion of solar and wind power has brought both opportunities and challenges.

While the country now generates abundant clean energy, transmission bottlenecks and limited local demand have resulted in an oversupply in several regions.

This surplus often leads to energy curtailment, where producers are forced to reduce output, causing financial losses.

Thopen’s CEO, Gustavo Ribeiro, has acknowledged this growing concern and revealed that the company is studying ways to transform the problem into an advantage.

During an interview with BN Americas, Ribeiro explained that Thopen is considering setting up Bitcoin mining operations and data centers near its energy generation sites.

The goal, Ribeiro said, is to “convert energy into capital” — a strategy that could help absorb excess electricity, stabilize local supply, and ensure that renewable power is not wasted.

A breakthrough for Brazil’s renewable energy sector

The proposal comes at a time when Brazil’s renewable energy industry is facing limits on the amount of solar power it can feed into the grid.

By channeling surplus electricity into Bitcoin mining, Thopen aims to reduce curtailment losses and create a steady revenue stream.

Analysts note that this integration of renewable energy and digital mining could offer a flexible, scalable solution for the nation’s energy sector.

Similar models are emerging across the globe.

In the United Kingdom, Union Jack Oil has begun converting excess natural gas into electricity to power Bitcoin mining operations.

In Canada, AgriFORCE Growing Systems announced plans to use stranded gas to run mining rigs.

Thopen’s venture could position Brazil as the next country to merge clean energy with crypto mining on a large scale, showcasing an innovative way to monetize renewable resources.

Sustainable Bitcoin mining and grid stability

One of the most promising aspects of Thopen’s strategy is its potential to improve both environmental and economic outcomes.

Using surplus renewable power for Bitcoin mining eliminates the need for fossil fuel-based energy, significantly reducing the carbon footprint of the process.

It also provides solar farms with a new income source, turning what would otherwise be wasted electricity into a productive asset.

Experts say this model can also enhance grid stability.

When power generation exceeds demand, mining operations can consume the surplus, balancing the system and preventing instability.

During low-output periods, operations can scale down, allowing electricity to flow back to the grid when it is needed most.

This flexibility makes Bitcoin mining an ideal companion to variable renewable sources like solar and wind.

The challenges and opportunities ahead

Despite its potential, Thopen’s plan is not without obstacles.

Brazil’s regulatory framework for cryptocurrency and energy integration remains under development.

Companies venturing into this space must navigate evolving policies, infrastructure demands, and the volatility of the crypto market.

However, industry observers believe that the benefits far outweigh the risks.

Ribeiro’s vision aligns with Brazil’s broader renewable energy goals — promoting efficiency, innovation, and sustainable economic growth.

If successful, Thopen’s approach could reshape how nations handle renewable energy surpluses, offering a model that is both profitable and environmentally sound.

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Germany’s AfD party proposes Bitcoin as strategic asset

  • The AfD party is urging Germany to treat Bitcoin as a strategic national asset.
  • The AfD Bitcoin reserve motion seeks MiCA exemption and clear, favorable tax rules.
  • AfD is pushing Bitcoin as “state-free money” to boost sovereignty.

Germany’s Alternative for Germany (AfD) party has put forward a parliamentary motion urging the government to recognize Bitcoin as a strategic asset.

The short, forceful proposal argues Bitcoin deserves distinct treatment from other crypto-assets and calls for tax and regulatory relief to bolster innovation and national sovereignty.

The Bitcoin strategic reserve motion by AfD

The AfD motion urges lawmakers to treat Bitcoin differently from tokens and stablecoins covered by the EU’s Markets in Crypto-Assets (MiCA) framework.

It argues Bitcoin’s decentralised design and fixed supply make it a unique form of digital value that should not be shoehorned into rules intended for centrally issued crypto instruments.

The party explicitly proposes that the government consider accumulating Bitcoin within national reserves as a hedge against inflation and currency volatility.

A central demand in the motion is tax certainty.

AfD lawmakers want to preserve the existing 12-month holding exemption for private capital gains and maintain Bitcoin’s exemption from VAT.

They also call for private mining and running Lightning Network nodes to be clearly classified as non-commercial activities, reducing administrative burdens for individual participants.

The motion stresses the right to self-custody and warns that legal uncertainty deters long-term private investment.

AfD frames the proposal as part of a broader defence of digital sovereignty.

The party opposes a European digital euro and portrays Bitcoin as “state-free money” that can protect liberties and reduce dependence on centrally issued currency instruments.

The motion arrives amid debate over Germany’s decision in mid-2024 to sell nearly 50,000 BTC seized from criminal proceedings — an action AfD and others now characterise as a policy mistake given subsequent price movements.

The proposal argues that heavy-handed national implementation of MiCA risks capital flight and diminishes Germany’s standing in blockchain innovation.

AfD lawmakers say excessive rules will push firms and talent to friendlier jurisdictions, eroding competitiveness in a field with rapidly evolving technology and commercial models.

AfD also highlights potential synergies between Bitcoin and energy policy.

The motion suggests that productive uses of excess renewable supply — including mining — could create a technological and economic fit between Germany’s energy transition and the Bitcoin network.

The party frames state accumulation of Bitcoin as a prudent diversification of reserve assets, drawing parallels to moves and proposals in other European countries that have discussed or adopted similar approaches.

Beyond urging a strategic statement from the federal government, the motion seeks concrete commitments: keep tax advantages intact, exempt certain private operations from commercial classification, enshrine self-custody rights, and open study of Bitcoin’s role in reserves and energy integration.

AfD wants the Bundestag to formally recognise Bitcoin’s distinct status and to restrain national rule-making that would extend MiCA beyond its intended scope.

The reaction from the public

Supporters in crypto circles welcomed the proposal as a sign that mainstream political debate is shifting away from dismissive tropes about digital currencies.

Critics, however, worry the plan could politicise reserve policy or clash with EU regulatory intent.

Observers note that Germany occupies an outsized spot in Europe’s economy, so any move to treat Bitcoin strategically would reverberate across markets and policy debates.

As Bundestag review AfD’s motions and the larger question of how national policy should sit alongside EU rules, whether the proposal gains traction depends on cross-party calculation about economic benefits, sovereign risk, and regulatory coherence.

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