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Crypto.com Halts Its Launch in South Korea: Details
Crypto.com has put its foray into the South Korean market on hold due to regulatory issues, according to a recent report by Bloomberg.
Crypto.com has put its foray into the South Korean market on hold due to regulatory issues, according to a recent by reports.
In its recent email, the company noted that it is challenging for foreign exchanges to break into South Korea. At the same time, it has stressed that it remains committed to cooperating with local regulatory authorities. The company initially announced the launch of its app in South Korea earlier this month. It said that its South Korean customers would be able to gain access to more than 150 cryptocurrencies as well as some exclusive non-fungible token (NFT) projects.
Binance Launchpool Unveils Renzo As 53rd Project, Initiates BNB And FDUSD Staking For EZ Tokens
Cryptocurrency exchange Binance revealed its choice of the liquid restaking protocol Renzo (EZ) as the 53rd project to be featured on its Launchpool platform. Users now have the opportunity to stake BNB and FDUSD to earn EZ tokens during a 6-day farming period, commencing at 00:00 UTC on April 24th.
Renzo serves as both a liquid restaking token (LRT) and a Strategy Manager within the EigenLayer ecosystem. Acting as the gateway to EigenLayer, it secures Actively Validated Services (AVSs) while providing a more significant yield compared to ETH staking. Renzo protocol simplifies user interactions by abstracting away technical intricacies, fostering connection between users and EigenLayer node operators.
Following farming, Binance plans to list EZ for trading at 12:00 UTC on April 30th. EZ tokens will be available in pairs with various tokens, encompassing BTC, USDT, BNB, FDUSD, as well as TRY.
Analyst Explains Why Bitcoin’s Fall To $ 50,000 Is On The Cards
Analyst Cheeky Crypto recently shared a Bitcoin price prediction that might not be what everyone wants to hear. According to him, the charts indicate a bearish setup in the short term, with lower highs and lower lows. The analyst pointed out that the market is currently in a ranging phase, with a targeted range and a recent relief rally discussed. The analyst highlighted resistance around the $ 68,000 to $ 69,000 range, expressing uncertainty about reaching it.
While the analyst views the current movement as a potential three-wave pattern, indicating a short-term correction followed by a medium-term pump towards $ 68,000, they warned that rejection at this level could lead to significant downside movement.
The analyst stressed the importance of the 200-day exponential moving average (EMA), considering it a crucial indicator for Bitcoin’s health. The analyst explained that a breakout above $ 73,777 would invalidate the bearish structure, but if Bitcoin gets rejected at $ 68,000 to $ 69,000, they anticipate targeting the 200-day EMA, currently around $ 50,741. This could coincide with a price prediction ranging from $ 52,000 to $ 55,000, where the analyst expects to find support.
coinpedia.org/news/analyst-explains-why-bitcoins-fall-to-50000-is-on-the-cards/
Shiba Inu Team Fixes Shibarium Outage As SHIB Readies For Potential Surge
In a recent update, Shiba Inu developer Kaal Dhairya (@kaaldhairya), confirmed that a temporary outage affecting the Shibarium network has been resolved. The outage, triggered by networking issues among validators, briefly disrupted services within the Shiba Inu ecosystem, specifically the layer-2 blockchain solution, Shibarium.
Kaal detailed the cause and the subsequent resolution of the problem, stating, “There was a temporary Shibarium outage caused because of networking issues amongst the validators. Network is back up and running now.” He also noted that while the primary network functionality has been restored, some ancillary services such as Shibariumscan or external Remote Procedure Calls (RPCs) may continue to face disruptions until additional remedial steps are completed.
www.newsbtc.com/shiba-inu/shiba-inu-team-fixes-shibarium-outage-shib-surge/
SatoshiVM Plans Runes Bridge Testnet Launch Next Week, Alpha Mainnet to Follow.
SatoshiVM will introduce the Runes Bridge on the testnet in the upcoming week, followed by its subsequent launch on mainnet Alpha.
Bitcoin zero-knowledge (ZK) rollup platform SatoshiVM (SAVM) revealed its intention to introduce the Runes Bridge on the testnet in the upcoming week, followed by its subsequent launch on mainnet Alpha.
Upon the official launch of the Runes Bridge, a specific set of Runes tokens, highly anticipated within the community, will receive priority support from SatoshiVM. Furthermore, the project plans to utilize SAVM from the Ecosystem Funds to incentivize users of Runes-related assets and early liquidity providers.
The SatoshiVM team has also indicated that the new campaign is currently in the planning phase, with SatoshiVM aiming to collaborate with various projects within the Runes ecosystem to foster the broader adoption of Bitcoin native assets.
The Runes protocol enables users to etch, mint, and transfer native assets on the Bitcoin network via specific transactions. It represents a new approach within the Bitcoin ecosystem for issuing fungible tokens with improved scalability. Each unit of a rune token is interchangeable, similar to the ERC-20 token standard, thereby facilitating the integration of additional financial attributes into Bitcoin.
mpost.io/satoshivm-plans-runes-bridge-testnet-launch-next-week-alpha-mainnet-to-follow/
MAGIC EDEN SURPASSED BLUR AS THE LEADING NFT MARKETPLACE IN MARCH.
Solana-based nonfungible token (NFT) platform @magiceden enjoyed huge success in March. According to CoinGecko’s Q1 report, the NFT platform registered its biggest trading volume in March, leapfrogging high-flying firm Blur. In the report, CoinGecko highlighted that Magic Eden experienced a jump of about 194% to hit $ 765 million in trading volume.
In the report, CoinGecko noted that Blur experienced slight success last month, registering a trading volume of about $ 530 million. The report also stated that the success was partly a result of the platform’s Diamond reward program and its extended partnership with Yuga Labs.
www.cryptopolitan.com/magic-eden-surpass-blur-marketplace-march/
Degen Chain L3 now tops the TPS charts within the Ethereum ecosystem
The average value transacted on Degen Chain is rather small at $ 0.27, however, compared to Ethereum and Base at $ 1,867 and $ 170, respectively.
Degen Chain, a new Ethereum layer-3 network, has recorded the highest transaction per second (TPS) count in the Ethereum ecosystem over the last 24 hours.
Degen’s TPS count increased 62% over the last day to notch 35.7 TPS — beating out the blockchain it was built on, Base, at 29.7 TPS, according to L2BEAT.
Arbitrum One, Ethereum and zkSync Era rounded out the top five.
cointelegraph.com/news/degen-chain-l3-tops-transaction-tps-charts-ethereum-ecosystem
Ethereum on track for $ 1B annual profit as DeFi drives Q1 revenue.
Ethereum saw first-time profits only last year and if it can keep pace with its 2024 first-quarter results, it could see $ 1 billion in yearly income by the end of the year. Blockchain network Ethereum is on the path to $ 1 billion in annualized profits after it netted income of $ 365 million in Q1, coming alongside a year-on-year quarterly revenue growth of 155%.
The network’s 2024 first-quarter income is a nearly 200% bump from the $ 123 million profit in Q4 2023, according to an April 17 report from The DeFi Report analyst Michael Nadeau.
Ethereum’s fee revenue — earned through users paying for transactions — hit $ 1.17 billion, up 155% from Q1 2023 and an 80% increase from the prior quarter.
cointelegraph.com/news/ethereum-tracking-billion-yearly-profit-from-defi-activity