Search Results for: VELO

VanEck announced it will dedicate 10% of upcoming earnings from its Ethereum futures ETF to Ethereum’s core developers, via The Protocol Guild. Other crypto-communities including Lido Finance and Uniswap are also supporting the Ethereum network, with $12 million raised publicly so far.

Chainlink’s change to its multisig wallet practices has raised questions around transparency and accountability in the crypto world. Meanwhile, Mixin Network offers a bounty to recover exploited funds, Uniswap seeks increased funding, and Curve Finance’s founder reduces his debt. Progress, despite controversy, highlights the resilience and potential growth of the DeFi sector.

The decentralized internet field, Web3 development, projects a median salary of $128,000 for 2023, as revealed in a Pantera Capital survey. However, junior and intermediate-level developer salaries in the U.S. saw a 4-8% decrease, while senior-level developers witnessed a 1.5% raise, bringing their compensation to $192,585. An overwhelming 97% of respondents opted for fiat currency over crypto payments.

“Bitcoin showed sturdy performance and quick recoveries from price dips despite U.S. CPI fluctuations and legal developments within FTX. However, the crypto market’s future hinges on U.S. regulators’ decision about a Bitcoin spot price exchange-traded fund. Also, incidents involving Bitcoin miners emphasize that the crypto world is susceptible to human dilemmas, affecting the overall sentiment and integrity of the community.”

“Lower Middle-Income (LMI) nations like India, Nigeria, and Thailand are leading in crypto adoption, outpacing wealthier counterparts despite the 2022 FTX collapse. Remarkably, institutional adoption is also gaining momentum in high-income countries, indicating a ‘bottom up and top down’ adoption process. This contrasting adoption trend could shape future global economy trajectories.”

“The crypto-sphere saw liquid staking surge to near-record highs and Vitalik Buterin predicting Ethereum full nodes could start running on mobile devices. Blockchain evolution is influencing EU policy, with AR capabilities and blockchain MMORPGs creating a buzz. Meanwhile, illegal activities emphasize the need for regulatory oversight.”

₿trust, a non-profit backed by Twitter co-founder Jack Dorsey, recently acquired Qala, a body aiming to enhance Bitcoin and Lightning engineers’ skills in Africa. The integration aligns with ₿Trust’s mission to stimulate Bitcoin open-source developers’ learning globally, particularly in the Global South, potentially changing the region’s involvement in Bitcoin development.

Bitcoin’s velocity, reflecting how swiftly BTC moves around the network, has hit a slowing point, indicating a stagnant Bitcoin supply at around $26,000. This could suggest that large Bitcoin holders maintain their holdings rather than selling, sparking a debate in the market. The slowdown also has implications for other cryptocurrencies, particularly Ripple Labs, currently under the scrutiny of the Security and Exchange Commission.

“The crypto industry is witnessing significant developments like Coinbase and Circle’s consortium dissolution, Binance.US’s collaboration with MoonPay, and customer withdrawal issues on the main Binance platform. These changes highlight the dynamic adaptations adaptive to changing regulations, representing both intriguing possibilities and cautionary tales for the industry.”

“ApeCoin (APE) experiences a week-on-week decline of -15%, raising speculations about its future. Bored Ape Yacht Club’s NFT collection sees a similar downturn, with a 26.2% price drop. Amid the turmoil, ApeCoin developers plan to revamp the marketplace; Meanwhile, Sonik Coin ($SONIK) shows promise with a successful inaugural sale and an innovative staking model.”

“Major cryptocurrencies experienced a sluggish weekend with altcoins showing muted price actions, with Bitcoin holding firm over $26,000 and Ether near its Sunday mark of $1,670. Notably, Xrp saw a 2% loss while Litecoin increased by a comparable amount. Shiba Inu also fell, further impacted by a failed launch of its Ethereum layer 2 network, Shibarium, trapping $1.7 million worth of tokens. However, altcoins like Optimism and Rollbit Coin registered profits, with Bitcoin investors remaining hopeful.”

“The crypto market, led by Bitcoin’s 7% plunge, experiences significant sell-off, with $1 billion liquidations. Factors include variations in market structure and increasing liquidations. Meanwhile, creditors of insolvent Celsius may expect to recover 67%-85% of their holdings. U.S regulators may soon greenlight ether futures ETFs for final approval.”