Base Blockchain Leads Stablecoin Volume for a Day
Home About News Partners Contact Home About News Partners Contact Telegram Welcome to the world of crypto Base Blockchain Leads Stablecoin Volume for a Day On October 26, Coinbase’s Ethereum layer-2 network, Base, briefly surged to the top spot in stablecoin transaction volume, marking a milestone in blockchain activity. Base captured 30.06% of all stablecoin transactions, outpacing prominent blockchains like Solana, Ethereum, and Tron. This spike coincided with Base setting a new record of 5.6 million daily transactions, reflecting a 20% increase from the previous month, according to Dune Analytics. Solana followed Base in daily stablecoin volume at 25%, with Ethereum and Tron at 20% and 16.7%, respectively. Circle’s CEO, Jeremy Allaire, highlighted the significance of this growth for USD Coin (USDC), predicting an annualized transaction rate of $6.6 trillion on Base if this trend continues. USDC made up 62% of Base’s stablecoin volume on October 26, while Tether (USDT) held 30%. While Solana holds the year-to-date record at $8.6 trillion, Base’s recent surge indicates the network’s potential to keep up with major players in the stablecoin market. Live News © 2024 CMTLive Telegram Twitter Medium
Ethereum’s ‘Verge’ Upgrade to Bring Nodes to Phones and Smartwatches
Home About News Partners Contact Home About News Partners Contact Telegram Welcome to the world of crypto Ethereum’s ‘Verge’ Upgrade to Bring Nodes to Phones and Smartwatches Ethereum’s upcoming upgrade, “The Verge,” is set to revolutionize node operations by drastically reducing hardware requirements, enabling nodes to run on everyday devices like smartphones and smartwatches. Vitalik Buterin, Ethereum’s co-founder, announced that this shift will enhance security and accessibility by using “stateless verification.” This technology allows nodes to verify blocks without needing to store large amounts of data, reducing the technical barriers for users. The Verge also aims to improve network scalability through Ethereum Improvement Proposal (EIP)-4762, which proposes changes to gas costs, introducing the concept of “multidimensional gas” to better manage resources. Additionally, it explores the use of Verkle trees and STARK-based alternatives to improve long-term security, particularly against quantum computing threats. By lowering the technical requirements for running nodes, The Verge will make solo staking more accessible, potentially allowing anyone with a smartphone or smartwatch to contribute to the Ethereum network. Live News © 2024 CMTLive Telegram Twitter Medium
Japan to Approve Crypto ETFs Amid Strict Taxation and Regulations
Home About News Partners Contact Home About News Partners Contact Telegram Welcome to the world of crypto Japan to Approve Crypto ETFs Amid Strict Taxation and Regulations Japan’s regulatory and tax framework is slowing the adoption of cryptocurrency-based exchange-traded funds (ETFs). While global markets like the U.S. and Hong Kong have approved Bitcoin and Ether ETFs, Japan’s Ministry of Finance and Financial Services Agency (FSA) remain cautious. Concerns over market volatility and regulatory risks prevent Japan from following suit. Japan’s tax policies also present a significant barrier. Crypto profits are taxed as miscellaneous income at rates up to 55%, while traditional ETFs enjoy a lower 20% capital gains tax. This disparity has prompted calls for tax reforms, with political figures like Yuichiro Tamaki advocating for a reduced 20% crypto tax rate. Despite these hurdles, Japan’s crypto market remains active. Tokyo-based investment firm Metaplanet recently increased its Bitcoin holdings to nearly 640 BTC, highlighting ongoing interest in digital assets. However, without regulatory and tax reforms, Japan risks falling behind in the global crypto ETF race. Live News © 2024 CMTLive Telegram Twitter Medium
Winklevoss-Backed DeFi Platform Azura Launches
Home About News Partners Contact Home About News Partners Contact Swap Welcome to the world of crypto Winklevoss-Backed DeFi Platform Azura Launches Azura, a new DeFi platform supported by the Winklevoss twins, has launched after raising $6.9 million in funding from Volt Capital, Alliance DAO, and other notable investors. Simplifying DeFi with Azura Azura is an all-in-one crypto application aggregation layer, aiming to make decentralized finance (DeFi) more accessible. Launched on October 22, it enables users to trade assets across multiple blockchains via a single platform. The goal is to lower entry barriers for new investors while preserving the benefits of DeFi, such as self-custody and decentralization. Investment and Vision The $6.9 million funding round was led by Initialized Capital, an early Coinbase investor, with participation from Winklevoss Capital, Solana co-founder Raj Gokal, and others. Azura seeks to reduce the complexity of DeFi, which currently involves using multiple protocols, wallets, and bridges, making it less appealing to beginners. Azura plans to unify these decentralized applications into a single, user-friendly interface, helping to drive wider DeFi adoption and simplify blockchain-based trading. Live News © 2024 CMTLive Telegram Twitter Medium
Buterin Proposes Solutions to Ethereum’s Issues
Home About News Partners Contact Home About News Partners Contact Swap Welcome to the world of crypto Buterin Proposes Solutions to Ethereum’s Issues Ethereum co-founder Vitalik Buterin has proposed solutions to address concerns over staking centralization and block production. In an Oct. 20 blog post, Buterin highlighted that smaller staking pools are merging with larger ones, causing two entities to dominate 88% of Ethereum blocks in early October. He warned that this centralization poses significant risks, such as transaction censorship. While 30% of Ethereum’s Ether is already staked, Buterin emphasized that staking could become less profitable if more Ether is staked, creating additional risks. To address these concerns, Buterin suggested capping the amount of Ether one can stake and limiting penalties to 12.5% of staked funds. He also introduced a two-tier staking model, where some staking is “risk-bearing” and others are “risk-free.” Buterin also proposed solutions like “fork-choice-enforced inclusion lists” and “BRAID,” both aimed at reducing centralization in block production. These solutions would help Ethereum maintain its decentralization while minimizing the risk of transaction manipulation. Live News © 2024 CMTLive Telegram Twitter Medium
A Spotlight on Crypto Regulations Ahead of US Elections
Home About News Partners Contact Home About News Partners Contact Swap Welcome to the world of crypto A Spotlight on Crypto Regulations Ahead of US Elections As the US election draws near, the spotlight is shifting to regulation and politics in the crypto world. Executives at major crypto and blockchain firms have pointed to the importance of US congressional races, viewing them as more impactful for the industry than the presidential election. At recent events like Permissionless III in Utah and Ripple Swell in Miami, leaders discussed the significance of the November race between Democrat Kamala Harris and Republican Donald Trump. Many highlighted how digital assets have emerged as a mainstream topic in 2024, with regulation now dominating discussions. Ripple’s head of US public policy, Lauren Belive, emphasized that regulators are increasingly interested in the complexities of crypto. The shift marks a departure from the Trump era, when the former president called Bitcoin a “scam.” Both current candidates have expressed more favorable views toward the industry. Experts believe that regardless of the election outcome, 2025 will usher in the most crypto-savvy Congress ever, with many pro-crypto voices emerging among policymakers. Live News © 2024 CMTLive Telegram Twitter Medium
Crypto’s Growing Influence on US Politics as Election Nears
Home About News Partners Contact Home About News Partners Contact Swap Welcome to the world of crypto Crypto’s Growing Influence on US Politics as Election Nears With the US elections approaching, the intersection of crypto and politics has become a focal point in key industry events. As the country prepares to elect representatives for the House, Senate, and the presidency, discussions on crypto regulation have taken center stage. At conferences like Permissionless III in Salt Lake City and Ripple Swell in Miami, industry leaders emphasized how digital assets have entered mainstream political discourse. Ripple’s head of US public policy, Lauren Belive, highlighted how a broader range of policymakers is now exploring the nuances of crypto technology. Speakers from Ripple and Fireblocks noted the increasing interest among lawmakers, regardless of their party affiliation, in shaping the future of digital currencies. With predictions suggesting a crypto-friendly Congress post-election, experts agree that 2024 marks a pivotal year for the industry. Both Republican and Democrat candidates have shown a willingness to engage with crypto issues, hinting that the outcome of the election could influence regulatory approaches for years to come. Live News © 2024 CMTLive Telegram Twitter Medium
UAE to Introduce Legal Framework for DAOs
Home About News Partners Contact Home About News Partners Contact Swap Welcome to the world of crypto UAE to Introduce Legal Framework for DAOs The United Arab Emirates (UAE) is set to unveil a new legal framework for decentralized autonomous organizations (DAOs) within its Ras Al Khaimah Digital Assets Oasis (RAK DAO), a free economic zone focused on digital assets. This initiative aims to provide legal clarity for DAOs, including smaller organizations, allowing them to operate legally. According to Irina Heaver, partner at NeosLegal, the framework will address governance, tax obligations, asset ownership, and offer legal protection to DAO founders and contributors. Additionally, DAOs can enter legally binding contracts and resolve disputes within this framework. Notably, the regime allows DAOs to be established remotely in the UAE, without the need for physical presence, making it accessible to global participants. The UAE’s competitive cost for DAO setup, starting at $3,000, contrasts with Switzerland’s $46,000, providing a more affordable option for smaller DAOs. This move is expected to solidify the UAE as a hub for blockchain innovation. Live News © 2024 CMTLive Telegram Twitter Medium
Dtravel Joins Fetch.ai to Revolutionize Vacation Rentals
Home About News Partners Contact Home About News Partners Contact Swap Welcome to the world of crypto Dtravel Joins Fetch.ai to Revolutionize Vacation Rentals Dtravel, a decentralized vacation rental platform, announced its partnership with the Fetch.ai Foundation on October 17. This collaboration introduces the first AI-powered travel agent, designed for developers on the Fetch.ai marketplace. Launched in 2021, Dtravel offers an alternative to centralized platforms like Airbnb, aiming to reshape the vacation rental industry. Through this partnership, developers can now integrate Dtravel’s AI-driven peer-to-peer rental agent into their projects, using Fetch.ai’s decentralized marketplace. Peter Busche, Chairman of the Fetch.ai Foundation, emphasized the collaboration as a step toward a more user-centric travel ecosystem. Cynthia Huang, CEO of Dtravel, highlighted the transformative potential of AI in the travel industry but stressed the importance of an ethical framework for data use. This partnership could pave the way for a decentralized future in the travel industry, potentially lowering costs for both travelers and property owners while advancing the decentralized finance movement. Live News © 2024 CMTLive Telegram Twitter Medium
Bitcoin Dominance Hits 3.5-Year High as Altcoins Struggle
Home About News Partners Contact Home About News Partners Contact Swap Welcome to the world of crypto Bitcoin Dominance Hits 3.5-Year High as Altcoins Struggle Bitcoin’s market dominance reached a 3.5-year high on Oct. 15, climbing to 58.77%, the highest since April 2021. As Bitcoin’s price surged to $67,800, altcoins remained largely stagnant. Bitcoin briefly dipped to $64,880 before recovering to trade above $67,000, with a market capitalization of $1.32 trillion. Historically, Bitcoin’s rising dominance has meant tough times for altcoins, and this trend continued as BTC gained 2.5% while altcoins stayed flat or dropped. Some analysts believe this dominance won’t last, predicting a shift towards altcoins soon. Benjamin Cowen, founder of ICT Crypto, suggested Bitcoin’s dominance could peak at 60%, while investor Coach K predicted a breakdown in Bitcoin’s dominance, potentially paving the way for altcoins and memecoins to rise. Ether (ETH), traditionally a strong altcoin, has seen its price relative to Bitcoin fall to its lowest level since 2021. Despite Bitcoin’s strength, many traders are still watching for a potential altcoin rally. Live News © 2024 CMTLive Telegram Twitter Medium