[ad_1] The decentralized social network Friend.tech has unveiled plans to move from Coinbase’s Layer 2 blockchain Base to its proprietary network, Friendchain. This development will come as part of the platform’s collaboration with Conduit, a crypto infrastructure service provider. When Will The New Friend.tech Blockchain Launch? In a June 8th post on X, web3 social platform Friend.tech revealed its plans to create a new blockchain dubbed “Friendchain,” winding down its partnership with the Coinbase-incubated Base network. According to the announcement, Friendchain is a proprietary blockchain that will utilize the recently launched FRIEND token as a fully transferable gas token. Related…
Author: dfrancis36
[ad_1] zkSync-based project Gemholic has been suspected of orchestrating a rug pull following a series of malicious moves on Saturday. The company behind the defunct decentralized exchange GemSwap has transferred out formerly inaccessible investor funds raising suspicions from the general crypto community. Gemholic Vanishes From Social Media After Moving Investors’ Funds In April 2023, Gemholic had 921 Ether (ETH), worth $1.7 million as of then, accidentally locked in one of its zkSync smart contracts, the GemstoneIDO due to an error in the transfer()function. After receiving a request for help from Gemholic, the development team at zkSync announced that the funds…
[ad_1] BitMEX co-founder Arthur Hayes says that a shift in policy from the central banks is about to boost crypto assets into a new bullish phase. In a new essay, Hayes, now the CIO of crypto investment fund Maelstrom, notes that both the Bank of Canada (BOC) and the European Central Bank (ECB) have decided to lower interest rates. Hayes says the moves by Europe and Canada suggest that a global shift in looser monetary policy may be underway, and could therefore signal a bump in risk assets once the Federal Reserve in the US follows suit. “The June central…
[ad_1] According to a report by data analytics company IntoTheBlock, the volume of high-risk loans on the prominent Aave Protocol is reaching high levels as general loan volume in the DeFi space records multi-year highs. This development is believed to stem from investors exploring various investment strategies in a bid to maximize profits in a highly anticipated crypto bull run. Related Reading Aave’s High-Risk Loans 5% Short Of Liquidation Threshold In its weekly newsletter on June 8, IntoTheBlock highlights that DeFi loans are currently estimated at $11 billion representing the peak value seen in the last two years. As the…
[ad_1] CoinFlip, a bitcoin ATM and crypto services company, announced today a new offering with the launch of ‘Olliv,’ a self-custody-powered crypto platform. The Olliv platform provides a frictionless way to buy, sell, send, receive, and swap cryptocurrency securely stored on a self-custodial wallet, removing the uncertainty of unknown third-party custodians. By leveraging CoinFlip’s existing network of crypto ATMs, Olliv will bridge the gap between the company’s physical products, expanding its ecosystem “We’re always looking for ways to invest in our customers that will contribute to the future of DeFi. We are confident our self-custodial model, a key value of…
[ad_1] Current price action shows Shiba Inu (SHIB) is currently in a triangular formation whose breakout might send it on a substantial surge upwards. However, while the crypto continues to trade within this triangular pattern, on-chain data shows a strong resistance wall, which could pose a strong threat to a SHIB price increase in the short term. According to data from IntoTheBlock, this interesting resistance wall sits around an average of the $0.000027 price level, which consists of 149,120 addresses that are holding 109 trillion SHIB tokens. Major Hurdle For Shiba Inu After a run to $0.0000287 in late May,…
[ad_1] Hex Trust, a regulated institutional-grade crypto-asset custodian, today announced it has partnered with The Sandbox, a leading decentralized gaming virtual world to enable fully-licensed and highly-secure custody of assets such as LAND in The Sandbox’s metaverse. The partnership sees Hex Trust fully integrate LAND into its custody platform, Hex Safe, which supports cryptocurrencies, security tokens, and NFTs. The Sandbox has added Hex Trust as a certified partner to its directory list for custody services. “We are always on the lookout to provide new ways to secure our community’s digital assets and bring peace of mind to The Sandbox’s community. After working…
[ad_1] FOR FINAL EDIT Coinbase, the major cryptocurrency exchange, has ignited a firestorm in the world of blockchain analytics. In a move that could reshape how we measure network health, they’ve proposed a brand new metric: the H-Index. Distorting Blockchain Adoption Metrics Traditionally, metrics like daily transactions were the holy grail for gauging blockchain adoption. However, these were easily manipulated by malicious actors creating fake accounts (Sybil attacks) or projects showering users with free tokens (airdrops) to inflate activity. The result? A distorted picture that masked true user engagement. Sybil attacks involve creating multiple fake identities or nodes to gain…
[ad_1] A layer-1 blockchain passed the Ethereum (ETH)-based virtual reality platform Decentraland (MANA) to become the top crypto gaming project in terms of development activity, according to the analytics platform Santiment. Santiment notes that MultiversX (EGLD), formerly known as Elrond, registered 236.93 notable GitHub events, compared to 150.4 events for Decentraland. The non-fungible token (NFT) layer-2 scaling solution Immutable X (IMX) ranked third with 77.4 GitHub events, and the Ethereum sidechain Skale Network (SKL) clocked in at fourth with 42.6. Source: Santiment/X Santiment notes that it doesn’t count routine updates and uses a “better methodology” to collect data for GitHub…
[ad_1] RockX, an Asia-based institutional-grade staking services provider, announced today the broadening of its staking product suite with the addition of a new ether (ETH) native staking solution. This latest offering strengthens RockX’s position as a comprehensive provider of diverse staking needs, maneuvering quickly to the evolving crypto market landscape. Navigating the Ethereum ecosystem presents institutions with unique challenges, including liquidity issues, cybersecurity vulnerabilities, counterparty failures, and a complex technological mastery hurdle, which have become more pronounced in the wake of the Shapella upgrade. RockX is committed to overcoming these hurdles by providing robust and secure solutions that simplify the staking…