The Fantom Foundation, the organization behind the Fantom decentralized network, recently announced the creation of a new foundation to facilitate the launch of the upcoming new Sonic chain.On May 23, Phantom Foundation CEO Michael Kong announced the new foundation on the Blockchain Network blog. Kong wrote:“Our team is constantly working to explore how Sonic Chain can impact and enhance a variety of DeFi and real-world use cases. Industries and applications such as real-world assets, persistent DEX, payments, trading, and high-volume gaming can be transformed by Sonic’s speed and high throughput.”Fantom’s Sonic Foundation will be responsible for overseeing Sonic’s governance, managing…
Author: Crypto Flexs
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As Bitcoin and Ethereum prices soared to all-time highs, short-term traders were hit hard by liquidations. In the last day alone, more than $330 million was liquidated from the cryptocurrency market, most of which came from short-term traders who expected prices to fall once again. Over 78,000 traders were liquidated for $330 million. The last 24 hours have been brutal for cryptocurrency traders, according to Coinglass data. In this short period of time, over 78,000 cryptocurrency traders suffered hundreds of millions of dollars in losses as their positions were liquidated. Related Reading Total liquidation amounted to $330 million. Of this…
SoftServe and Continental Boost Automotive DigitalizationSoftServe, a renowned IT consulting and digital services provider, has collaborated with Continental, a leading German automotive technology company, to develop an innovative solution called Industrial Co-Pilot. Powered by generative AI, this virtual agent aims to optimize engineers’ maintenance workflows. As reported on the NVIDIA blog, these developments come in response to the industry’s growing need for a seamless, connected driving experience.OpenUSD powers virtual factory solutionsSoftServe supports manufacturers like Continental by integrating the Universal Scene Description (OpenUSD) framework into virtual factory solutions like Industrial Co-Pilot. These solutions are developed on…
DeFi TVL has now hit its highest since May 2022. Lido’s share of the ETH staking market is decreasing. Total value locked (TVL) across decentralized finance (DeFi) protocols has risen to a two-year high amid a general market rally. DefiLlama’s data. At press time, DeFi TVL was $106.45 billion. Evaluated on a year-to-date (YTD) basis, it is up 96% since the beginning of the year. Source: DefiLlama Lido’s market share declines The value of assets locked across Lido Finance (LDO) pools, a leading Ethereum (ETH) staking provider and TVL’s largest DeFi protocol, has steadily surged since May 12. Prior to…
Bitcoin price extended losses and traded below the $68,800 support level. BTC is now facing a hurdle as it consolidates near the $70,000 resistance zone. Bitcoin extended its decline below the $68,800 support zone. The price is trading below $69,000 and the 100-hour simple moving average. The hourly chart of the BTC/USD pair (data feed from Kraken) shows a major bearish trendline forming at resistance $69,200. Unless the bulls push it back above $70,000, the pair could continue to move. Bitcoin price discount support Bitcoin price began a downward correction below the $70,000 support zone. BTC bears could push the…
One analyst explained how Bitcoin’s trading availability has quietly declined during the asset’s recent consolidation phase. Bitcoin could be well positioned to hit a new all-time high In a new post on X, analyst Willy Woo discusses recent trends in Bitcoin inventory on centralized exchange platforms. Related Reading The chart below shows how spot and paper BTC holdings have changed over the past few years. Both of these metrics appear to have been on the decline recently | Source: @woonomic by X As you can see from the graph, Bitcoin in spot wallets has been decreasing over the past few…
The 23-year-old cryptocurrency user presented an orange flag with the Bitcoin (BTC) logo for observers to see from the summit of Mount Everest, 8,849 meters above sea level.In a May 23 X post, Dadvan Yousuf announced that he had climbed the world’s highest mountain and reached the summit on May 20. Surrounded by Sherpas and his fellow climbers, he spent time at the summit showing off the Kurds and the Kurdish flag. BTC logo.“Interestingly enough, other climbers have been asking about memecoin pepe and the best place to buy it is the highest place on earth,” Yousuf’s spokesperson told Cointelegraph.…
Several Bitcoin mining companies and Bitcoin-adjacent stocks fell along with the broader stock market on Thursday as spot approvals continued to unfold. Ethereum ETH +0.73% ETF.U.S. Securities and Exchange Commission late Thursday afternoon. 8 spot Ethereum ETFs approvedIncludes 19b-4 formats from BlackRock, Fidelity, Grayscale, Bitwise, VanEck, Ark, Invesco Galaxy, and Franklin Templeton.Hut 8’s shares led the decline, falling 10%, while competitors including Riot Platforms and Marathon Digital fell about 7.6% and 5.5%, respectively. MicroStrategy is considered by many to be a proxy for Bitcoin price. BTC -2.31% Supply decreased by 6.2%.Shares of several spot Bitcoin ETFs fell between 3% and…
BlackRock’s spot Ethereum ETF, $ETHA, is now listed on DTCC after the SEC approved multiple Ethereum ETFs. The post BlackRock’s Ethereum Spot ETF Listed on DTCC under the ticker name $ETHA appeared first on Crypto Briefing.
The U.S. Securities and Exchange Commission (SEC) has approved the first Ethereum exchange-traded fund (ETF), marking a significant milestone for the cryptocurrency industry. The decision announced today will allow asset managers like Grayscale, Fidelity, and Bitwise to launch ETFs that directly track the price of Ethereum (ETH).Ethereum rose 2% on the news and was trading at $3,900 at press time, based on CryptoSlate data.Approval followed a rigorous application process and extensive market analysis. Grayscale’s Chief Legal Officer Craig Salm previously emphasized that the SEC had already addressed key issues in the approval process for the spot Bitcoin ETF, which also…