Cryptocurrency

The new integration allows Binance users to directly deposit and withdraw dYdX tokens to and from their accounts. Additionally, it enables interaction with a variety of decentralized applications (DApps). dYdX Chain is a Cosmos appchain that enables trading in crypto token derivatives and holds the top spot in volume within the decentralized perpetuals sector. Users can delegate their dYdX tokens to validators who help secure the network. All the fees collected by the protocol are then paid out to both dYdX stakers and validators in USDC stablecoin.Binance said it will start allowing withdrawals for the token on this network as soon as there are enough deposits. With the completion of dYdX’s mainnet integration, Binance joins a growing list of crypto exchanges and wallet providers, including OKX, to adopt the network.The dYDX Chain is an open-source, standalone app-chain that’s completely decentralized, packing everything from the protocol and orderbook to the front end. Earlier in November, dYdX Chain launched a fresh upgrade that introduces interchain accounts, allowing liquid staking protocols to integrate with the Cosmos-based network. This upgrade enables users to maintain their staking activities and secure the dYdX Chain while transforming their staked DYDX into a tradable and usable liquid asset for DeFi applications. Liquid staking protocols are now vying to attract dYdX stakers to their services.Concerns arose when dYdX shifted away from Ethereum, as there were doubts about its ability to regain the same level of activity seen in previous versions. Ethereum boasts considerably higher usage compared to the Cosmos ecosystem. However, dYdX’s trading volumes now surpass those of Uniswap and other Ethereum-based exchanges, which seem to validate the company’s decision to switch ecosystems.dYdX specializes in facilitating perpetual futures trading, which involves contracts without expiry dates. This enables investors to speculate on underlying asset prices without the need for physical settlement typical in standard futures trading.The platform recently upgraded to v4, branding it as a “fully decentralized” chain unlike its prior v3 iteration, which the company admitted was not fully decentralized. While dYdX plans to eventually shut down v3 on Ethereum, no specific closure date has been announced yet. More

The world’s largest cryptocurrency fell 0.2% in the past 24 hours, sitting at $63,579.4 by 08:30 ET (12:30 GMT).Sentiment towards crypto markets was battered this week by a report showing that less than 10% of overall stablecoin transactions- which are a key vehicle for transacting in crypto- were organic or from real users. The report raised questions over just how much retail demand there actually was for crypto, given that stablecoin operators, specifically Tether- clocked consistent increases in market capital. Additionally, trading app Robinhood Markets Inc (NASDAQ:HOOD) said it was facing potential regulatory action from the Securities and Exchange Commission over crypto tokens traded on its platform. The SEC was also seen postponing a key decision on ETFs.The negative factors came amid sustained outflows from crypto investment products, indicating that sentiment towards the space remained largely negative. Data from digital asset manager CoinShares showed on Monday that crypto investment products saw a third straight week of sustained capital outflows. Overall outflows amounted to $435 million, with Bitcoin products seeing outflows of $423 million.Outflows from Grayscale’s Bitcoin ETF still made up a bulk of the overall outflows. But capital inflows into other Bitcoin ETFs were also seen slowing substantially.Weakening flows came amid a dearth of immediate cues for crypto markets, after Bitcoin’s halving event passed with little fanfare. The token was also largely rangebound after surging to record highs in March. Among major altcoins, Ethereum fell 3.4% to $3,069.52 after the SEC postponed a decision to approve spot ETFs tracking the altcoin for U.S. markets. The regulator is now expected to make a decision only by early-July. The SEC also has an ongoing investigation into whether Ethereum is a security, and is widely expected to reject applications for a spot Ethereum ETF. Other alt coins saw mixed moves, as speculation over U.S. interest rate cuts remained in play. XRP rose 0.3%, while Solana rose 3.8%. London-based digital bank Revoult has launched its crypto exchange, Revolut X, specifically targeting professional cryptocurrency traders.Revolut, which has provided crypto buying and selling within its app for years, announced in February its plans to launch a dedicated exchange platform.Revolut X aims to attract traders by offering lower fees compared to trading within the Revolut app.According to its Tuesday announcement, the exchange will charge no fees for the trade maker and only 0.09% for the taker.While some banks offer cryptocurrency trading to their customers in various ways, Revolut is among the first to create a dedicated crypto exchange solely for this purpose. More

Silent Protocol, a forefront innovator in blockchain privacy technology, has announced the release of the Ghost Layer, a cutting-edge modular Layer 1.5, designed for the Ethereum ecosystem. This new solution is engineered to provide compliant privacy enhancements to public blockchains, suitable to both retail and institutional applications.The Ghost Layer is using a zero-knowledge (ZK) based system alongside its proprietary 0VM technology. These advancements allow for the private storage of assets and enable the omnidirectional flow of value across various blockchains. It facilitates the seamless integration of existing applications into private workflows through its ability to open access channels to different execution layers.The founder of Silent Protocol, Novachrono, explains the unique position of the Ghost Layer in the blockchain hierarchy: “If you create a ledger whose state is decided by the base ledger but the computation is stored elsewhere—you can call it a Layer 1.5.” This innovative positioning combines the robustness of base layer processing with enhanced privacy and interoperability functions.In 2023, Silent Protocol launched EZEE, addressing the challenge of state denial and introducing a fully composable architecture that supports functional privacy. This framework allows developers to build an ecosystem of applications without the constraints of isolated systems. Furthermore, Silent Protocol has developed the Silent Compliance VM, a decentralized protocol that selectively reveals data to prevent misuse by bad actors.This launch signifies Silent Protocol’s commitment to building a compliant and composable framework that enables institutions to securely and privately leverage Ethereum. Developers across various blockchains will now have the opportunity to transform their existing applications into privacy-preserving applications, known as 0dapps, while maintaining the liquidity available on the mainnet.About Silent ProtocolSilent Protocol is a leader in blockchain privacy technology, dedicated to enhancing security and compliance in blockchain applications without sacrificing performance. Founded by a team of blockchain innovators, Silent Protocol develops scalable, privacy-centric frameworks like the EZEE framework and Silent Compliance VM. These tools empower developers and institutions to transform existing applications into secure, privacy-preserving platforms while fostering interoperability across different blockchain systems.ContactCo-Founder & CTOİsa Sertkayaisa@silentdao.orgThis article was originally published on Chainwire More

MultiBank.io, part of the esteemed MultiBank Group, and a regulated cryptocurrency exchange, has taken a leap forward for newcomers in the crypto trading world, with the introduction of its rewarding Mission Center. Newcomers onboarding with MultiBank.io, as well as existing users will be rewarded by achieving milestones throughout their journey on the exchange. The Mission Center: Complete Tasks & Earn RewardsAt the core of MultiBank.io lies the all-new Mission Center, designed to give newcomers a chance to try out MultiBank.io’s new derivatives product, along with experiencing a cryptocurrency exchange where TradFi meets Crypto.The Mission Center will be launching with two missions from the get-go, but more will be coming very soon with even greater rewards for traders, here are the two missions available right now for traders on MultiBank.io:ABOUT MULTIBANK.IOMultiBank.io, a cryptocurrency exchange under MultiBank Group, offers a user-friendly platform for instant, secure trading including Bitcoin and Ethereum. For more information, visit https://multibank.ioWebsite | X | Telegram | Facebook (NASDAQ:META) | Instagram | LinkedInABOUT MULTIBANK GROUPFounded in California, USA, in 2005, MultiBank Group has grown to command a daily trading volume exceeding $12.1 billion, serving over 1 million customers. MultiBank Group has matured into one of the largest online financial derivatives providers globally, offering an array of brokerage services and asset management solutions. The group’s award-winning trading platforms offer a diverse range of products, including Forex, Metals, Shares, Commodities, Indices, and Digital Assets. For more information, visit https://multibankfx.com ContactAntonio BileciBileciantonio.bileci@multibank.ioThis article was originally published on Chainwire More

For the quarter ended March 31, 2024, the company reported GAAP net income of $40 million and non-GAAP adjusted earnings of $63 million, marking a record in its earnings performance. CIFR shares were up 0.45% following the release.Cipher’s first quarter revenue reached $48 million, falling short of the analyst consensus estimate of $50 million. Despite this, the reported revenue represents a significant increase from the $21.9 million reported in the same quarter last year, indicating a strong year-over-year (YoY) growth.CEO Tyler Page expressed satisfaction with the quarter’s results and the company’s operational progress, including the construction of the new Black Pearl data center. “We are delighted to announce results for the first quarter of 2024 in which we delivered another quarter of record net income on both a GAAP and non-GAAP basis,” said Page.He also highlighted the company’s expansion plans, with the self-mining hash rate expected to reach approximately 9.3 EH/s by the end of the third quarter of 2024 and plans to grow to approximately 25.1 EH/s by the end of 2025.Cipher’s earnings per share (EPS) of $0.13 exceeded the analyst estimate, which predicted a breakeven quarter. The company’s financial position remains strong, with cash and cash equivalents totaling $88.7 million, up from $86.1 million at the end of the previous quarter.Cipher Mining’s focus on developing and operating bitcoin mining data centers is part of its commitment to expanding the Bitcoin network’s infrastructure. With its strategic partnerships and dedicated team, Cipher aims to be a leader in the bitcoin mining industry, especially in the post-halving environment that demands efficient and scalable operations.This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. More

Chain of Alliance Officially Launches its Beta Version today, marking its significant milestone with a refined gaming experience from Alpha 1.0Chain of Alliance officially launches its Beta version today. The game marks a significant milestone towards enhancing and refining its gameplay experience. The launch of its Beta version is a complete transformation of how players interact within the game. Chain of Alliance’s team has meticulously reviewed feedback from the Alpha testers and has implemented a series of strategic upgrades to improve gameplay dynamics and enhance user experience. The following pivotal gameplay improvements can be found in its Beta Version:Combat Modifications:The Beta release of the game not only showcases the hard work and dedication of the development team but also highlights significant enhancements to the game’s visuals. Chain of Alliance introduces a new visual style, providing a captivating new look, updated sound effects to deliver immersive audio that enhances the gaming experience, and new animations to make the game feel more dynamic and engaging. Chain of Alliance is thrilled to invite all gamers, from the curious to the hardcore, to join them in testing, enjoying, and shaping the future of the game. Player engagement is crucial to the game’s continuous improvement to push the boundaries of strategic gameplay. Users can get first-hand news and a detailed roadmap here.Website: https://www.chainofalliance.com/ Medium: https://medium.com/@chainofallianceTwitter: https://twitter.com/chainofallianceDiscord: https://discord.gg/chainofallianceAbout Chain of Alliance Chain of Alliance is an innovative and immersive turn-based, party-builder RPG, designed to be a great game first, utilizing the advantages of Web3 to empower the players. Chain of Alliance offers an ever-expanding game world, driven by the choices and actions of the community, encouraging and rewarding user-generated content.ContactJorn Wismanpr@chainofalliance.comThis article was originally published on Chainwire More

Pomp stated that despite being volatile on a day-to-day basis, Bitcoin continues to grow since the start of the year.Still, since Friday, the world’s flagship cryptocurrency has increased by more than 10%. The price surge, Pomp stated, was spurred by the fact that on Friday, for the first time since January, Grayscale’s GBTC ETF saw a $63 million inflow after four months of consistent outflows. Pomp reminded the audience that this is the largest Bitcoin ETF, and with the first inflows starting to come in, the price was stimulated to rise.Another important driver named by Pomp was the fact that the 200-day moving average for Bitcoin has reached an all-time high, soaring above $50,000 for the first time.After going above the $65,000 level earlier today, though, the paramount cryptocurrency has been pushed back down 2.14%, and at the time of this writing, it is changing hands at $63,800.This article was originally published on U.Today More

The BFI, which correlates fundamental Bitcoin network metrics with price movements, identified an exhaustion of sellers and an increase in network growth just before the rally. This suggested that the downside risk was limited and that a bounce was on the horizon. Specifically, the BFI had fallen to levels that historically corresponded with the market’s bottom, making it an ideal time for investors to consider entering the market.On-chain data from the period shows a significant increase in transactions over $100,000, and a steady inflow and outflow on exchanges, indicating a relatively balanced market sentiment. The total inflow to exchanges was around $8.3 billion, with outflows slightly lower at $7.23 billion, suggesting that while some investors took profits, there was substantial buying pressure to sustain the rally.Ahead of the Federal Open Market Committee (FOMC) meeting, liquidity expectations were set to be reaffirmed, contributing to positive sentiment on the cryptocurrency markets. This anticipation played a key role in driving the price upward as investors positioned themselves for potential favorable policies.The BFI also showed that the concentration by large holders was relatively low at 11%, indicating that the recent price movement was not primarily driven by the activities of whales, which can often lead to increased volatility. Additionally, the price correlation with Bitcoin remained stable at a score of 1.This article was originally published on U.Today More