Autor Cointelegraph By Sam Bourgi

Balancer launches on Ethereum L2 network Optimism

Balancer launches on Ethereum L2 network Optimism

Uverejnil používateľ | jún 2, 2022 |

Automated market maker and decentralized finance (DeFi) protocol Balancer has officially deployed on Optimism, the highly touted Ethereum layer-2 scaling solution, in a move designed to enhance user functionality by increasing scalability and reducing fees. Balancer’s Optimism deployment was carried out in conjunction with Beethoven X, a decentralized investment platform on the Fantom Network that forked from Balancer v2. Together, both teams are said to have developed a decentralized exchange that is set to compete in the Optimism ecosystem.Balancer Labs CEO Fernando Martinelli said his project’s Optimism deployment reflects the belief that layer-2 scaling solutions will be effective in reducing transaction fees and network congestion. Optimism is a layer-2 scaling solution designed to bring faster and lower-cost transactions to Ethereum. The network is said to support all decentralized applications on Ethereum via Optimistic Rollups, a scaling solution that operates in parallel with the main Ethereum chain.Currently, Optimism has over $320 million in total value locked (TVL) on its chain from 38 projects, according to industry data. Its TVL peaked north of $510 million in late April. It currently ranks 19th in overall network value. Like other DeFi-focused protocols, Optimism has seen its network activity decline considerably over the past two months. Source: DeFiLlamaRelated: Ethereum scaling solution Optimism upgrades governance structureThe number of projects launching on Optimism has increased considerably in recent months, partly due to expectations that the network was preparing to airdrop new tokens. Optimism has reported a surge in demand from users wanting to position themselves for the OP governance token airdrop, which will occur in multiple phases. It has been reported that nearly 250,000 addresses are eligible to receive the airdrop.

Čítaj viac
Canadians buy the dip as Purpose Bitcoin ETF holdings reach new highs

Canadians buy the dip as Purpose Bitcoin ETF holdings reach new highs

Uverejnil používateľ | jún 1, 2022 |

Despite May’s price correction, which took Bitcoin (BTC) as low as $23,800, institutional investors seem unwilling to lose confidence in the cryptocurrency.The Purpose Bitcoin ETF, launched in February 2021, has been seeing a consistent inflow over the last five trading days. The fund’s holdings have increased to 43,701.7 BTC as of Tuesday, according to Glassnode data reported by Jan Wustenfeld. That’s the highest level on record.The Canadian #Bitcoin Purpose spot ETF has seen persistent inflows over the last 5 trading days. Wed: 752 BTCThu: 2.06k BTCFri: 1.82k BTCMon: 6 BTCTue: 2.78k BTCAssets under management new all-time high: 43.70k $BTC Previous ATH: 42.48k BTC, May 16 pic.twitter.com/vQHRd1XecC— Jan Wüstenfeld (@JanWues) June 1, 2022Notably, the Canadian spot Bitcoin ETF purchased 2,006 BTC on Thursday and 2,780 BTC on Tuesday. The inflows seem to align with a broader short-term tendency of institutional buyers investing in crypto again. Data from Coinshares reveals that digital asset investment products saw $87 million in cumulative inflows last week, with Bitcoin products accounting for $69 million of that total.This news comes as a relief from the digital asset outflow caused by last month’s market collapse, which saw $141 million in total outflows from institutional funds in the week of May 24. That was the highest outflow since July 2021.Related: Crypto funds under management drop to a low not seen since July 2021Still, according to the Coinshares report, the total assets under management (AUM) metric currently remains at its lowest point since mid-2021 as some institutional buyers seem to be waiting for lower prices to inflow crypto into their funds again.Looking at the market’s future, analysts still seem bearish in the short term, with predictions for Bitcoin going as low as 14,000 and calling the recent price surge a bull trap. Meanwhile, long term predictions remain positive, with holders still accumulating Bitcoin and young generations remaining bullish.

Čítaj viac
VC Roundup: The rise of blockchain gaming, DAO management and asset tokenization

VC Roundup: The rise of blockchain gaming, DAO management and asset tokenization

Uverejnil používateľ | máj 30, 2022 |

Bitcoin (BTC) and the broader cryptocurrency market have provided very little comfort in recent weeks, as macroeconomic headwinds and the implosion of the Terra ecosystem continue to reverberate. But, if we look beyond the immediate price action, we observe an industry that continues to grow and evolve, as well as attract sizable capital investments from major funders. The latest edition of venture capital (VC) Roundup highlights the continued growth of Web3 gaming, metaverse applications and even decentralized finance (DeFi) protocols. Related: Crypto Biz: Smart Money is betting big on Web3, layer 2, May 19-25Andreessen Horowitz backs Irreverent LabsBlockchain video game developer Irreverent Labs has raised $40 million from venture capital firm Andreessen Horowitz (a16z) to further the development of its immersive play-to-earn game Mecha Fight Club. Andreessen’s general partner Arianna Simpson described the “outlandish” premise of the game in a blog post: “Robotic roosters and hens battle it out in a hilarious combat sport that is part MMA, part Tamagotchi, part Gundam Wing, part Mortal Kombat, with a twist of humor from Family Guy, Monty Python and South Park.”Announcing our fourth crypto fund, totaling $4.5B, to invest in promising web3 startups at every stage. This brings our total crypto/web3 funds raised to over $7.6B.General Partner @cdixon shares more on https://t.co/xIezLlyDiC. https://t.co/Xc696Fu8UT— a16z (@a16z) May 25, 2022Canadian tech education company raises $7M for metaverse engineCoding Bootcamp company Lighthouse Labs recently closed a $7 million seed round to further develop its so-called “open metaverse navigation engine.” The funding round had participation from some of blockchain’s biggest VCs and investors including Accel, BlockTower and Animoca Brands. Lighthouse Labs is developing a platform that allows users to search for places, events and experiences from across the open metaverse. Jonathan Brun, Lighthouse’s co-founder and CEO, said accessing the Metaverse will soon evolve from a gaming experience to one that becomes closer to the web. N3TWORK Studios closes Series ABlockchain games publisher N3TWORK Studios has closed a $46 million Series A funding round to expand its footprint in the Web3 gaming sector. Specifically, the funding will help N3TWORK further develop and launch its first two Web3 titles, Legendary: Heroes Unchained and Triumph. The Series A was led by Griffin Gaming Partners, with additional participation from Galaxy Interactive, Kleiner Perkins, KIP, Floodgate and LLL Capital. Web3, the talk of the town! But what does it really mean, and how does it function?Well, we made just the video for you: https://t.co/5D2NF30JKt pic.twitter.com/zMbp6uUMHH— Cointelegraph (@Cointelegraph) March 27, 2022

Related: In the Economy 3.0, metaverses will create jobs for millionsGlobal hacker movement gets backing from blockchain VCsDoraHacks, a hacker movement that offers Web3 developer grants, has closed a $20 million funding round led by FTX Ventures and Liberty City Ventures. Additional investors included Circle Ventures, Gemini Frontier Fund, Crypto.com Capital, Amber Group and Sky9 Capital. DoraHacks will use the funding to launch several initiatives, including decentralized grant community Dora DAO and a new venture fund that will invest in emerging technology startups. DeFi protocol raises $30MDeFi liquidity protocol iZUMi Finance has closed a $30 million funding round to expand its ecosystem and launch a new decentralized exchange on the BNB Chain. Roughly one-third of the funds were raised via bond vouchers on Solv Protocol, a platform that enables the creation of new financial instruments expressed in the form of nonfungible tokens (NFTs). Related: What is total value locked (TVL) in crypto and why does it matter?DAO management platform closes funding roundCommon, a community management initiative for decentralized autonomous organizations, or DAOs, has closed a $20 million funding round to expand its platform and further decentralize its operations. Common gives users the ability to create, manage and govern their own blockchain communities. The company claims to have 500 active communities including crypto projects dYdX, Axie Infinity, Solana and Polygon. Explain DAOs in 5 words or less. — Cointelegraph (@Cointelegraph) February 28, 2022

Centrifuge lands BlockTower partnershipDeFi protocol Centrifuge has partnered with blockchain venture firm BlockTower to accelerate the financialization of real-world assets on-chain. To support this initiative, the partners secured $3 million in treasury token sales from both traditional and crypto investors. The incorporation of real-world assets is considered by many to be an important step in further cementing DeFi’s role in mainstream finance. Centrifuge co-founder Lucas Vogelsang said his firm’s partnership with BlockTower aims to “accelerate the adoption of DeFi in institutional capital.”

Čítaj viac
Brazilian university USP will conduct academic research in the metaverse

Brazilian university USP will conduct academic research in the metaverse

Uverejnil používateľ | máj 27, 2022 |

As reported by USP, the metaverse-centric research will be carried out by research groups interested in 3D modeling, psychology and human behavior and the effectiveness of virtual and augmented reality devices. These research domains will be evaluated within the context of the metaverse to understand how the new virtual world impacts user interactions.USP professor Marcos A. Simplicio Jr. highlighted that this is the first time USP had received a nonfungible token (NFT) via partnership. The token in question is a rare piece of land in the USM Metaverse, which is being built in collaboration with other universities. “USP is the first university in Latin America to have a partnership with USM to support the construction of its Metaverse,” said Simplicio.The partnership will initially feature a collaboration with researchers stemming from an existing agreement called the University Blockchain Research Initiative (UBRI), which is sponsored by Ripple.During the 2022 World #Economic Forum, Sheila Warren, CEO of the #Crypto Council for Innovation (CCI), sat down with Cointelegraph to discuss a range of topics, including the state of crypto, decentralized autonomous organizations (DAO) and safety within the #metaverse.— Supreme Finance (@SupremeFinance2) May 24, 2022As Cointelegraph reported, opportunities involving the metaverse were discussed at the World Economic Forum’s Annual Meeting, which concluded on Thursday. Specifically, the panel titled “The Possibilities of the Metaverse” explored how metaverse technologies can be used to enhance children’s learning. The panel featured Philip Rosedale, co-founder of High Fidelity; Pascal Kaufmann, founder of Mindfire Foundation; Peggy Johnson, CEO of Magic Leap; Hoda AlKhzaimi, assistant research professor at New York University, Abu Dhabi; and Edward Lewin, vice president of Lego Group.Related: Singapore venture firm launches $100M Web3 and metaverse fund“One in three people using the internet are young adults and children, so I would really focus on building from kids’ perspective, given they are the future users,” Lewin said during the panel discussion. The University of Sao Paulo and United States of Mars (USM), which recently rebranded from Radio Caca, have announced an agreement that aims to promote research around the technical, economic and legal aspects of the metaverse. 

Čítaj viac
Crypto Biz: Smart Money is betting big on Web3, layer 2, May 19-25

Crypto Biz: Smart Money is betting big on Web3, layer 2, May 19-25

Uverejnil používateľ | máj 27, 2022 |

Billions and billions. That’s what venture capitalists are spending to get ahead of the curve in crypto. Their latest fixation is Ethereum layer-2 scaling solutions and Web3, an umbrella term that describes the next stage of the internet’s evolution. So, while the cryptocurrency market is in a state of extreme fear, smart money investors — TradFi folks who invest with expert knowledge — continue to pour countless sums into the space. This week’s Crypto Biz newsletter gives you the latest funding stories from the world of blockchain and explores interesting developments surrounding Google and Sam Bankman-Fried. Andreessen Horowitz closes $4.5 billion crypto fund amid market turmoilThe crypto market selloff of 2022 hasn’t deterred Andreessen Horowitz from pledging additional billions to crypto startups. This week, the venture capital giant, which also goes by the name a16z, announced the closing of its fourth cryptocurrency investment fund. Valued at $4.5 billion, a16z’s new fund is focused heavily on Web3 startups. Clearly, Andreessen is getting the money from interested parties who believe blockchain technology will transform the internet. So, you can keep reading doom-and-gloom headlines about the end of crypto as we know it. Or you can simply follow what the smart money is doing. Announcing our fourth crypto fund, totaling $4.5B, to invest in promising web3 startups at every stage. This brings our total crypto/web3 funds raised to over $7.6B.General Partner @cdixon shares more on https://t.co/xIezLlyDiC. https://t.co/Xc696Fu8UT— a16z (@a16z) May 25, 2022StarkWare nets $100M as investors bank on layer-2 successSpeaking of smart money, venture capital investors have given $100 million to Ethereum layer-2 developer StarkWare. Many crypto observers are excited about Ethereum’s chronically delayed Merge, but investors seem to think the network won’t be able to scale without a lot of support from layer-2 solutions. StarkWare is pushing for rollup technology that could significantly increase Ethereum’s transaction capabilities, which will greatly enhance the network’s functionality. Interest in layer-2s is just heating up and investors will look to back as many front-runners as they can. Google seeks fresh talent to lead global Web3 teamBear markets are tough, but don’t let them deter you from considering a career in crypto. Even Google, the data overlords of the internet, is hiring talent for its Web3 ambitions. Basically, the company is forming a Web3 team within its Google Cloud division and believes now is the time to increase support for “crypto-related technologies.” Those were the exact words — allegedly, of course — of Google Cloud vice president Amit Zavery. Web3 is no longer just about crypto, but its connection to the industry appears to be growing stronger by the day. new: Google Cloud is forming a Web3 product and engineering organization that will build services for developers. new job postings have appeared on Google’s internal Grow tool, Amit Zavery is telling employees in an email today https://t.co/sLC8VlqgBf— Jordan Novet (@jordannovet) May 6, 2022

Sam Bankman-Fried could spend up to $1B in 2024 to thwart Trump comebackJust because Bitcoin is trading sideways, it doesn’t mean the crypto market is boring. Far from it, actually. How about this story: FTX founder Sam Bankman-Fried, also known as SBF, is prepared to spend up to $1 billion of his own money to thwart a Donald Trump comeback. I guess this means SBF will donate up to $1 billion to the Democratic Party during the 2024 election cycle. Although Trump hasn’t confirmed whether he will run again in 2024, the chances are high that he’ll take another kick of the can. If he does run, I don’t think anyone in the GOP can compete with him. SBF is taking this very seriously. Before you go! When will stocks recover? I’d love to tell you that Bitcoin is a premier inflation hedge that has completely decoupled from stocks and other so-called risk assets. Unfortunately, though, since the March 2020 Covid crash, Bitcoin and crypto have been highly correlated with stocks. If you want to gauge the likelihood of a crypto recovery in the short term, you need to look at what stocks are doing. In the latest edition of The Market Report, I sat down with fellow analysts Benton Yuan, Jordan Finneseth and Marcel Pechman to discuss the likelihood of a stock market recovery and what it means for Bitcoin. You can watch the full replay below.[embedded content]Crypto Biz is your weekly pulse of the business behind blockchain and crypto delivered directly to your inbox every Thursday.

Čítaj viac

Získaj BONUS 8 € v Bitcoinoch

nakup bitcoin z karty

Registrácia Binance

Burza Binance

Aktuálne kurzy