[ad_1] The development team behind layer-2 scaling solution Polygon (MATIC) says they will be officially renaming the ecosystem’s native asset to POL after the network goes through a major upgrade later this year. In a new blog post, Polygon Labs says that starting on September 4th, MATIC will be replaced by POL as the blockchain’s native gas and staking token. “As the upgrade to MATIC, in the initial phase, POL will become the gas and staking token of Polygon proof-of-stake (PoS). In subsequent phases, the community can decide to expand the utility of POL to serve a crucial role in…
Author: dfrancis36
[ad_1] Prominent asset manager Grayscale Investments is set to launch spinoffs of their Grayscale Ethereum Trust’s (ETHE) and Grayscale Bitcoin Trust (GBTC) exchange-traded funds (ETF). Following inquiries by market spectators and potential investors, Bloomberg analyst James Seyffart has provided much insight into the nature and operation of these spinoffs. Grayscale ETF Spinoff Based On 90-10% Sharing Format, Seyffart Says On Friday, James Seyffart published a thread on social media platform X, discussing vital information about Grayscale’s ETF spin-offs Grayscale Ethereum Mini Trust (ETH) and Grayscale Bitcoin Mini Trust (BTC), which are based on the company’s ETHE and GBTC’s funds respectively.…
[ad_1] A crypto analyst has maintained a strong bullish stance for Bitcoin (BTC), predicting that the pioneer cryptocurrency is heading towards a fresh all-time high of $100,000. The analyst has shared several factors that could propel Bitcoin to this lofty price target. Bitcoin To Hit $100,000 In 2024 On July 19, crypto analyst Scott Melker, also known as “The Wolf Of All Streets” on X (formerly Twitter), informed his 958,300 followers that he was extremely bullish on Bitcoin’s potential for a future price increase. The analyst emphasized his long term optimistic stance and investment on Bitcoin, highlighting that this bias…
[ad_1] In an interesting turn of events, Rho Markets, a lending protocol based on the Ethereum layer two networks Scroll, has had a daunting experience with grey hat hackers involving the temporary loss of $7.6 million in users’ assets. Rho Markets’ Security Breach Exposed By Gray Hat In an X post on Friday, Rho Markets announced they had noticed some suspicious activity on their platform, prompting them to suspend all operations and commence an investigation. The crypto lending platform assured all users that the majority of its token pools were secured, and there was no cause for concern. Related Reading:…
[ad_1] A widely followed crypto analyst believes one under-the-radar altcoin is on the verge of a massive breakout. Crypto trader Michaël van de Poppe tells his 722,400 followers on the social media platform X that the Omni Network (OMNI), which aims to integrate Ethereum’s (ETH) rollup ecosystem into a single, unified network, could soon soar more than 16% from the current value and keep heading higher. “I’m heavily interested in newer coins, especially Binance listed ones. OMNI is one of those, which is on the verge of a big breakout upwards. Needs to break through $16, but, first and foremost,…
[ad_1] Lately, the price of Solana (SOL) has been demonstrating bullish resilience and gaining significant growth above its bearish trendline. Market participants are closely watching this current price action with the $175 resistance acting as a pivotal point, and a break above it could set the stage for a potential rally that might propel the crypto asset towards the $175 mark. As bullish sentiment around SOL continues to build, this article seeks to analyze its current price movements above the bearish trendline and the technical indicators suggesting sustained growth. The goal is to provide readers with a comprehensive understanding of…
[ad_1] Worldcoin (WLD) has come under heavy criticism following a recent development, which led to talks about potential price manipulation by the team. Prominent crypto on-chain sleuth ZachXBT also reacted to these price manipulation allegations, suggesting that the Worldcoin team may actually be guilty of them. “Biggest Scam Token Of The Bull Run” ZachXBT recently described Worldcoin as the “biggest scam token of the bull run” while calling out venture capitalists and team members backing the crypto token. ZachXBT’s remarks were in response to a piece by crypto trader and analyst DeFi Squared, which alleged that the Worldcoin team has…
[ad_1] After being hit by a massive hack that resulted in the loss of $235 million for its investors on Thursday, India-based cryptocurrency exchange WazirX has taken immediate steps to mitigate the damage and filed a police complaint to recover the stolen funds. WazirX Launches Legal Pursuit In a recent update on the situation, WazirX published a social media post noting that the exchange has reported the incident to the Financial Intelligence Unit (FIU) and CERT-In, India’s Computer Emergency Response Team. The exchange stated: In response to the cyber attack, we have filed a police complaint and are pursuing additional…
[ad_1] A widely followed cryptocurrency analyst and trader says that one Ethereum (ETH)-based altcoin could be gearing up for a double-digit bounce. The analyst pseudonymously known as Credible Crypto tells his 403,900 followers on the social media platform X that CRV, the native token of stablecoin lending platform CurveDAO, could soar to $0.37, a more than 24% gain from the current value. The analyst says several metrics suggest a CRV breakout is imminent, including the token holding a key level around $0.26 as support. “Holding the same level covered in my last tweet on CRV and once again seeing some…
[ad_1] Semilore Faleti is a cryptocurrency writer specialized in the field of journalism and content creation. While he started out writing on several subjects, Semilore soon found a knack for cracking down on the complexities and intricacies in the intriguing world of blockchains and cryptocurrency. Semilore is drawn to the efficiency of digital assets in terms of storing, and transferring value. He is a staunch advocate for the adoption of cryptocurrency as he believes it can improve the digitalization and transparency of the existing financial systems. In two years of active crypto writing, Semilore has covered multiple aspects of the…