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Polygon, the second-largest Layer-2 network built on the Ethereum blockchain, is initiating a major upgrade today. The longstanding MATIC token will transition to POL tokens.
This move aims to enhance the network’s flexibility in issuing new supplies.
MATIC Price Drops Ahead of Migration to POL
MATIC has a strong market presence, boasting a market capitalization of $3.6 billion....
The decentralized finance (DeFi) protocol Penpie, built on the Pendle yield platform, was exploited on Wednesday, resulting in a loss of about $27 million in crypto assets, according to blockchain data.
The attacker stole various tokens, including staked Ethereum (ETH), Ethena’s sUSDE, and wrapped USDC. The funds were later converted to ETH using the Li.Fi protocol and moved to a new address...
Pure.cash countdown begins: game-changing protocol launches within a week. The project is built on Ethereum and aims to revolutionize the crypto industry, offering more than just a decentralized version of Ethena.
Highlights
Pure USD (PUSD): A scalable, decentralized synthetic dollar.
LongOnly: A zero funding rate perpetual contract product.
Reverse Issuance Model: Airdropping 100%...
Surging bearish sentiments have led to a sustained downtrend in crypto market activity. This is reflected in the decline in the total crypto market cap (TOTAL) and Bitcoin’s (BTC) price over the past 24 hours. Stellar’s XLM is the altcoin with the most losses during that period.
In the news today:
President-elect Donald Trump is considering establishing an “AI czar” role to oversee...
OverProtocol, a Layer 1 blockchain, has successfully activated its mainnet on September 4th.
The project aims to create a user-friendly environment where anyone can easily participate in new P2P financial systems without requiring specialized expertise. The core development team, Superblock, has raised $8 million in funding to develop this blockchain, focusing on node optimization techniques...
Cardano’s (ADA) open interest began a new downward trend on August 1, plummeting by 63% since then. Currently sitting at $227 million, the metric has reached its lowest point since January.
Recent on-chain data shows a surge in short positions, reflecting a growing bearish sentiment around the altcoin.
Cardano Futures Traders Exit the Market
Open interest measures the total number of...
Tron meme coin launchpad SunPump has implemented a 100% on-chain buyback and burn process, reflecting Justin Sun’s commitment to enhancing the blockchain’s profitability.
This move is part of a broader strategy by the Tron ecosystem to strengthen SunPump’s market position amid increasing competition in the meme coin space.
SunPump Introduces 100% Buyback Model
Tron founder Justin Sun...
Bitcoin’s (BTC) price could face a prolonged decline after failing to break above the $60,000 mark. This struggle to maintain a key resistance level has raised concerns among investors, who are now closely watching how far the downturn might extend.
Currently, Bitcoin is trading at $57,862, marking a 6.85% drop over the past seven days. While some market participants might be hoping for a...
For many weeks, Ethereum’s (ETH) price has been eyeing a return to $3,000. Unfortunately, that has not happened due to several rejections and a rather quiet broader market.
However, the underwhelming price action is not the only challenge facing the blockchain, ranked as the second-most valuable crypto project. This on-chain analysis highlights the other parts and what could become of ETH...
21Shares has introduced its Wrapped Bitcoin on the Ethereum blockchain, marking its second launch of this product after its debut on Solana.
WBTC continues to draw attention, especially after BitGo announced plans to shift its custody to a new multi-jurisdictional model.
21Shares Introduces Second WBTC
The Wrapped Bitcoin, branded as 21BTC, emerges from a partnership between 21.co, the...