USDC

Summary: A summary of USDC, LBLOCK, SOL, $GARI, DYDX,. Stablecoins, games platform, the blockchain trilemma, video sharing, Proof of work, proof of space and time, proof-of-history. Dydx and margin trading. USD Coin (USDC) USD Coin is a digital stablecoin that is attached to the US Dollar, it is used as a digital dollar for global businesses. This coin is interesting because it is always redeemable in a ratio of 1:1 for US Dollars, meaning it gives its users access to the US Dollar. USDC is seen as a pillar of the blockchain ecosystem. The USDC software is open-source and is managed by an organisation that drives standards for the adoption of trusted stablecoins, and enforces payment and identity standards; this organisation is called Centre Consortium. The USDC is available on most of the world's most powerful and innovative block chains. The fact that USDC offers a broad, native availability and the ability to seamlessly swap across the blockchain ecosystems, means that developers who build with USDC are able to extend their reach. The Centre Consortium's second major standard provides decentralised identity for crypto finance, called Verite. Verite is a collection of standardised protocols that can help make it safer, easier and more efficient to do business across the world of DeFi and Web3 commerce. Verite is free and anyone can use it and to build on. Read more: (USDC) USD Coin, What Is It And How Does It Work? - An Interesting Altcoin!  Lucky Block (LBLOCK) Lucky Block is one of the most undervalued cryptocurrencies, but hopes to change that by building onto the Binance Smart Coin and using it to offer more transparency and equality amongst users. Lucky Block is listed on the Pancakeswap platform, in the weeks following the listing, the price increased substantially and investors saw brilliant returns. They launched their coin earlier this year, and have seen successful returns since. Lucky Block is a cryptocurrency games platform, a worldwide games and competitions platform with “play-to-earn” rewards using blockchain protocols, it operates on the Binance smart chain. They are determined to develop further transparency and fairness in games. The coin was created to give everyone a better experience for lottery entrants. Lucky Block believes that games of chance should have no borders (geographic and financial). The coin is considered to be revolutionary - it is a “crypto-lottery” Lucky Block was the fastest crypto to earn $1 billion Market Cap, they acquired 50k+ investors in the first 90 days after launching. Read more:(LBLOCK) LuckyBlock Crypto-Lottery - The Future Of Cryptocurrency?  Solana (SOL) The Solana coin was founded in 2017 during the initial coin offering (ICO), their aim is to keep cost low but still achieve scaling throughput beyond what is achieved by other popular blockchains. As well as trying to solve the blockchain trilemma. The SOL token was officially launched in March 2020. Since its launch Solana has become one of the Top 10 cryptocurrencies with regards to total market capitalisation. Proof-of-history in the context of cryptocurrencies refers to a high frequency Verifiable Delay Function (VDF). A VDF produces a unique output that is efficient and can be publicly verified. Solana uses the proof-of-history to solve the issue of the need for centralised systems to verify transactions, as the need to use centralised services defeats the object of a decentralised system. Solana’s platform uses a proof-of-stake network, meaning the security network is not dependent on energy usage, thus the platform is environmentally friendly. The synchronisation engine that is used by Solana is one of the main reasons they can achieve a high throughput. The reliability of Solana’s synchronisation guarantees allows them to break down the synchronisation blocks called ‘entries’ which are then validated in real time before any block consensus. Read more: (SOL) Solana Coin Continues to Grow - Popular Altcoins, SOL: What Is It & How Does It Work?  GARI ($GARI) Chingari App is a short video-sharing app that pays its content creators based on how viral their videos become. With every upload, creators get points per view which can be exchanged for money. Chingari has been labelled India's version of Tiktok. Chingari has partnered up with Solana to build and launch GARI on a decentralised exchange in 2023. Chingari is the largest on chain social graph on web3. $GARI NFT marketplace, which will launch in 2023 acts as both an in-app currency and as a governance token. This will give creators the authority over future platform development. GARI Panda is an exclusive collection of 9,999 unique panda NFTs on Solana, this feature aims to bring unique & real world utilities to holders. In the future if advertisers wish to run advertisements in the Chingari app, they will need to own Gari Panda NFTs. Read more: https://www.fxmag.com/crypto/gari-networks-future-looks-bright-as-the-market-waits-for-gari-to-launch  Dydx (DYDX) Dydx is a decentralised trading platform that is used for cryptocurrency margin trading for assets such as ETH, BTC, SOL, DOT and more. The bulk of the trading happens on the Ethereum blockchain, however, with the recent launch of layer 2, the Dydx exchange can be used for inexpensive, instantly settled trades. Dydx has successfully filled a niche market in the world of cryptocurrencies. Dydx is a leading crypto exchange that supports perpetual trading. It trades on the ethereum block chain using smart contracts and no intermediaries. Perpetual trading on cryptocurrencies are financial derivatives that enable traders to bet on crypto asset price movements, using leverage without owning the underlying asset. Some advantages of using this method are: Increased flexibility of trades by allowing both long and short trades. Increased leverage. Dydx is aiming at trading for everyone. They are building an open platform for crypto financial products, which is powered by the Ethereum blockchain. Read more: What Is (DYDX)? dYdX Cryptocurrency Supporting Perpetual Trading - Altcoins of Interest  Sources: FXMAG.com

Hi, traders; welcome to Wednesday’s update. With oil tumbling and the USD jumping, we can only think of one pair that benefits from those two moves. The USDCAD is highly driven on both fronts, and the CAD is a commodity currency that generally tracks oil’s fortunes. The USD, well yeh enough said. Last night we saw key moves on oil and the USD. Oil shed up to 10% and briefly traded below the $100 level. The USD shot higher, the index trading above 106.50. Looking at the daily USDCAD chart below, we can see that price continues to trade in a new fast trend after buyers took control on the 8th of June. Since then, we have seen one reaction that set up demand and an HL late in June. Buying has continued into July, with traders retesting key resistance and supply areas that have stood since May. The recent resistance and supply lines up with a longer-term level of supply /resistance that runs back to November 2020. This is our line in the sand that buyers must break to continue the current trend. If we see a break above these levels, it could be ga,e on with 1.31 and 1.32 or higher a possibility. Fail, and we would look for a new move to possibly retest the 1.2850 area. It’s really up to buyers and mainly USD momentum to continue to drive the current buyer move. The Fed minutes are due out today at 04:00 am AEST, and they could play a role in the current short-term USD pulse. USDCAD D1 Chart The post USDCAD set to stall at or break key resistance? appeared first on Eightcap.

Hi traders, today has been an exciting day with strong gains seen from the majors to the JPY. The USD made a late fightback, and we did see new weekly highs on the USD index. Risk majors, as a result, have traded lower to the USD, but for now, the EUR hasn’t gotten back down to parity. The USD strength has lifted one pair to levels not seen in serval months. Oil was another factor as price failed to build on yesterday’s gains and has dropped close to 3% lower. The pair we’re talking about today is the USDCAD. The Bank of Canada raised rates by 2.5% early this morning, and that, combined with weaker oil prices and a firmer USD, helped buyers jump back into the USDCAD. Price has hit 1.15% in gains, and price has broken above the resistance area noted in today’s chart below. The strong surge confirmed an ascending triangle pattern; we are now looking to the two remaining supply areas. If buyers can maintain momentum, could we see a new move back into the 1.32 Handel, a level not seen since 2020 when the market entered into its sharp bear trend that moved back to the 1.20 area. The market has had plenty of time to charge up for this move, and it’s good to see the current breakout coming from a bullish continuation pattern. It will come down to USD momentum and oil strength to help maintain buyer drive. USDCAD D1 Chart The post Forex News; USDCAD above resistance. Will we see a new extension? appeared first on Eightcap.

Bitcoin rose on Wednesday on the back of stock gains and strengthened further on Thursday morning. In the low-liquid morning market, stop-loss orders were triggered, pushing the price up 4% within an hour and a half. At the peak, the price climbed to $18.3K but then retreated to $18.0K. Santiment estimates that crypto whales resumed buying in early January. In five days, addresses controlling between 1,000 and 10,000 coins increased their reserves by more than 20,000 BTC. Realised volatility in bitcoin and Ethereum fell to extreme lows, which historically preceded explosive moves in either direction, Glassnode said. Registering its 9th consecutive trading session of gains, Bitcoin is testing the downtrend resistance line and the area of previous local highs. Therefore, today's bitcoin momentum will likely be decisive for the next few days and may even register a long-term reversal, returning the market to the active buying phase. Read next: GM, Ford, Google And Solar Producers Would Work Together To Set Standards For Increasing The Use Of VPPs| FXMAG.COM On the other hand, the RSI on the daily charts has entered overbought territory as a long lull preceded the last rally. Are the bulls getting tired? We will find out in the next couple of days. Bloomberg strategist Mike McGlone said he believes in the future of the first two cryptocurrencies Galaxy Digital founder Michael Novogratz said that we shouldn't expect cryptocurrencies to fall significantly, but it's too early to talk about a broad recovery. According to him, the cryptocurrency industry needs time to lick its wounds and restore confidence. But BTC and ETH have stabilised in recent months and have even risen in recent days. Bloomberg strategist Mike McGlone said he believes in the future of the first two cryptocurrencies. Bitcoin and Ethereum will perform better than other assets, but they will still come under pressure when the stock market falls. McGlone is confident that ETH will hold support at $1,000. According to Glassnode, the popularity of the stable USD Coin (USDC) has risen sharply since the collapse of FTX. Users are more likely to choose this stablecoin because of monthly audits by accounting firm Grant Thornton on USDC and the collateral of short-term US government bonds.

Bitcoin stuck to support near $24K on Thursday. Cryptocurrencies balance gains and losses while waiting for meaningful signals from traditional financial markets. This consolidation could prove beneficial, confirming cryptocurrency's total capitalisation of over $1 trillion and paving the way for another leg higher. In our view, the crypto market has passed its peak of fear, and we should expect an uneven but still upward movement with periodic corrections. Local significant support has formed at $23.7K, but local reversals to the downside are coming from lower levels: $25K on Tuesday, $24.5K on Thursday and $24.1K on Friday morning. A step back to a broader picture shows that the observed pullback remains within a typical correction following the rally from mid-February, which left bitcoin above January's highs. The real threat to our bullish view on bitcoin is a break below $21.5K, which would update local lows and break below the 50-day moving average, now acting as a trend indicator. The Canadian regulator has banned trading in algorithmic stablecoins The New York Attorney General's office has sued crypto exchange CoinEx, alleging that the site violates the Martin Act and is not registered with the SEC or CFTC. The Canadian regulator has banned trading in algorithmic stablecoins. The Canadian Securities Administrators Association (CSA) has unveiled new rules prohibiting local traders from buying and selling stablecoins that the agency does not approve. Read next: Visa Success At The Expense Of Small Businesses| FXMAG.COM The Bank of Israel has published a set of requirements for stablecoin issuers. The guidelines include banning algorithmic stablecoins if they are widely used for payments. Circle, the issuer of USDC's second largest stablecoin, plans to increase its headcount by 15-25% by the end of the year, despite a trend of widespread layoffs in the crypto industry.

1. Amid a shortage of physical cash, Nigeria is experiencing violent protests. Nigeria was facing violent protests this week. There was a shortage of physical cash following cash withdrawal restrictions imposed by the Central Bank of Nigeria (CBN) and the redesign of its banknotes. The redesign has left old bills of the local naira currency useless and prompted citizens to swap them for new ones. However, the policy has led to a scarcity of cash, disrupted businesses, and sparked violent protests nationwide. To combat the problem, some Nigerians have turned to stablecoins and Bitcoin as a solid store of value and censorship-resistant currency, offering 24/7 instantaneous access to funds at affordable charges, and protection against rising inflation in Nigeria. As a result, demand for Bitcoin in Nigeria is reaching new highs, with the Bitcoin Premium recently rising by 60% to $38,000 per BTC. 2. Germany's top bank will start offering digital assets Germany's second-largest bank by assets, DZ Bank, has announced it will offer digital asset custody services to its institutional clients. The bank has partnered with Swiss firm Metaco and orchestration platform Harmonize to provide digital currencies to its institutional clients. The move comes as DZ Bank aims to offer crypto securities to clients under the German eWpG. The platform was selected after an extensive proof-of-concept and diligence process and was deemed a powerful solution fit for the bank's intended operating model. The bank had €297bn ($332bn) in assets under custody at the end of 2022. Metaco has partnered with major financial institutions like Citibank and Societe Generale in the last 12 months to enable institutional clients to access digital asset offerings. 3. Additional charges for SBF and violation of release conditions Sam Bankman-Fried has been accused of four additional crimes in a new indictment, including illegal donations for political purposes. SBF denies the charges. The indictment also reveals that SBF has stolen billions of dollars from customers and investors to support FTX and Alameda Research. The accusation also claims that Bankman-Fried hid some political donations by making them under the names of other FTX employees. Read next: Pfizer Is In The Early Stages Of An Acquisition Of Biotech Company Seagen, Twitter's Staff Has Shrunk Since Elon Musk Took Over| FXMAG.COM SBF has agreed to hire an independent technical expert to consult on the terms of his bail after violating the terms of his bail by using an encrypted communication app and VPN. The defence also agreed that SBF would not have access to encrypted communication apps or services. Private citizens are writing to the judge asking for SBF's bail to be revoked. 4. Coinbase reports a decrease in revenue and transaction volume in 2022 On February 21, Coinbase published a letter to shareholders, presenting the financial results for the last quarter of 2022 and the whole year. It was mentioned that throughout 2022, total transaction volume fell by 50% compared to the previous year, and transaction revenues fell by 66%. The cause of such a result was the cryptocurrency market collapses, such as the bankruptcy of Luna and Terra in May and FTX in November 2022, which caused a 64% drop in cryptocurrency values and affected Coinbase revenue. Nevertheless, the company remained in good financial shape thanks to the diversity of revenue from subscriptions and services, as well as cost reductions that affected revenue growth in the fourth quarter of 2022. Coinbase believes it is in a good position to deal with regulations in the cryptocurrency industry, and the cryptocurrency markets have seen improvement in the first months of 2023. 5. Matt Hancock and the "From Ukraine With Love" NFT collection British MP Matt Hancock continues his mission to support blockchain technology through a new NFT collection called "From Ukraine With Love". The collection consists of works painted by Ukrainian artist Oleg Mischenko before the war and will be sold at an NFT gallery in Mayfair, London, on Monday, February 27. Proceeds from the sale will be donated to the Ukraine humanitarian appeal of CARE International UK. Read next: BNP Paribas Sued For Providing Financial Services To Companies That Allegedly Contribute To Deforestation Of The Amazon Rainforest| FXMAG.COM 6. Circle encourages regulators to use blockchain technology in financial services Circle, the creator of the USDC stablecoin, has presented its recommendations to the Irish Central Bank regarding introducing innovative financial products based on blockchain technology. Circle highlights the benefits public blockchains can bring consumers, including increased competition, privacy protection, improved financial education, and the ability to track transactional data on the blockchain. It was also suggested that regulators should assess transactional data on the blockchain and encourage early engagement by firms offering innovative financial products before submitting a formal application. 7. IMF calls for coordinated action over fears crypto could undermine the global monetary system The International Monetary Fund (IMF) has raised concerns over the impact of crypto on the effectiveness of monetary policy, financial stability, and fiscal risks, calling for a "coordinated response" from member countries. While the IMF acknowledged that strict bans are not the best option, it suggested that cryptocurrencies should not be granted official currency or legal tender status. To address the risks posed by crypto, the organization recommended a framework of nine elements to help member countries develop a comprehensive, consistent, and coordinated policy response, including the unambiguous tax treatment of crypto assets and alternative solutions for cross-border payments and finance. 8. Matrix legend stands on the side of crypto Hollywood actor Keanu Reeves has praised cryptocurrency, stating that dismissing it or criticizing its volatility would only make it better in terms of how it is safeguarded. Reeves, who previously revealed that he owned cryptocurrency, also talked about his involvement with the Futureverse Foundation, a charitable organization launched by New Zealand-based non-fungible token and blockchain technology company Non-Fungible Labs. Reeves, who is an advisor to the foundation along with partner Alexandra Grant, said they are trying to take the technology that people are interested in and give opportunities to artists with different viewpoints. 9. BIS chief says central banks won with crypto. Agustín Carstens, General Manager of the Bank for International Settlements (BIS), claimed that fiat has won the battle with cryptocurrency, but the crypto community disagrees. Carstens highlighted that "technology doesn’t make for trusted money" and criticised cryptocurrency in an interview with Bloomberg. The BIS has emphasised the need for regulation and risk management in the crypto space. However, Carsten's comment sparked anger, satire and corrections among the crypto community. Bitcoin maximalist Ray Youssef called it "a distraction with no ROI," while Lady Anarki said that "fiat and crypto are essentially the same exact scam." Bitcoin is up over 40% from its 2022 lows, and Lightning Network adoption flourishes, while the community appears increasingly vocal. 10. US congressman tries to block CBDC US Congressman Tom Emmer has proposed a bill called the CBDC Anti-Surveillance State Act, which aims to prevent the Federal Reserve from launching a central bank digital currency (CBDC). Emmer stated that any CBDC should uphold the principles of privacy, individual sovereignty and free market competitiveness, and warned that an alternative could result in a "dangerous surveillance tool". The bill would prevent the Fed from issuing a digital dollar, using CBDCs to implement monetary policy, or using them to control the economy.

Polygon follows Matter Labs in deploying ZK-EVM scaling solutions. MakerDAO votes to retain USDC as the primary reserve for DAI. Circle stablecoin USDC to launch on Cosmos. Weekly DeFi Index This week’s market cap, volume, and volatility indices were negative at -19.11%, -28.46%, and -4.57%, respectively.     Check the latest prices on Crypto.com/Price     Gnosis Builders, the ecosystem team behind Gnosis Chain, announced its latest integration with DeFi protocol Balancer. The integration will bring liquidity to Gnosis Chain and allow users to deploy funds using decentralised apps such as the Balancer App and DeFi yield booster Aura.         News Highlights On 25 March, Matter Labs opened its zkSync Era mainnet to the public, marking the first public launch of an EVM-compatible rollup secured by zero-knowledge proofs. Following its testnet launch in October, Layer-2 scaling solution Polygon launched the mainnet beta for its zkEVM product, with Vitalik Buterin initiating the first transaction. DAI stablecoin issuer MakerDAO voted to keep USDC as the main reserve currency for DAI. Circle announced that its stablecoin USDC will be launched on the Cosmos network. A Swiss non-profit organisation is bringing zero-knowledge proofs to Bitcoin.  It aims to scale the network by allowing users to verify the network’s state without downloading hundreds of megabytes of blockchain history or relying on a third party. Layer-1 blockchain Avalanche’s X and C chains saw a brief outage last week. On-chain data reveals that C-Chain (the contract chain) has recovered from an hour-long outage, while transactions transmitted across X-Chain (the exchange chain) experienced some delays.  As a precautionary measure, THORChain halted its network on 28 March as potential network vulnerabilities are being investigated. BNB Chain-based exchange Safemoon was compromised, which led to approximately US$8.9 million worth of digital assets being drained from its liquidity pool. Blockchain security firm Peckshield shared that a recent update may have introduced a ‘public burn bug’ that facilitated the hack. Recent Research Reports     Research Roundup Newsletter [February 2023]: In this issue, we feature trending market insights and our analyses of the current state of the decentralised derivatives market. Alpha Navigator: Quest for Alpha [February 2023]: Asset classes took a breather in February and sold off, although crypto bucked the trend. BTC and ETH options implied volatilities remain at subdued levels. Overview of Decentralised Derivatives: Crypto derivatives dominate the industry, representing about 70% of the entire market. In this report, we shed light on derivatives in DeFi, their market overview, and some innovations in the space. We’re all ears. Your feedback has always helped us provide insightful crypto market trends. Tell us how we can improve this newsletter further by taking a quick survey below (it will only take less than a minute). Thank you! Take our survey now Disclaimer The information in this report is provided as general market commentary by Crypto.com and its affiliates, and does not constitute any financial, investment, legal, tax, or any other advice. This report is not intended to offer or recommend any access to products and/or services. While we endeavour to publish and maintain accurate information, we do not guarantee the accuracy, completeness, or usefulness of any information in this report nor do we adopt nor endorse, nor are we responsible for, the accuracy or reliability of any information submitted by other parties. This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of, or located in a jurisdiction, where such distribution or use would be contrary to applicable law or that would subject Crypto.com and/or its affiliates to any registration or licensing requirement. The brands and the logos appearing in this report are registered trademarks of their respective owners Author Research and Insights Team Get fresh market updates delivered straight to your inbox: Subscribe to newsletters   Be the first to hear about new insights: Follow us on Twitter Tags CRYPTO RESEARCH CRYPTOCURRENCIES DEFI LAYER 1 LAYER 2 Source: DeFi & L1L2 Weekly (29/03/2023) (crypto.com)