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- 1 The most recent updates tell users about the developments in the crypto space.
- 2 Analysts and investors try to interpret these actions to speculate on the next actions.
Crypto news can give users many insights into what’s happening in the space. The new developments indicate how the markets will emerge in the future. Thus, it’s prudent to know what is going on.
Coinbase Acquires Stake In Stablecoin and USDC Adds New Blockchain
Coinbase achieved one more feat in its series of successes. Recently, it announced that it’s going for a minority stake in Circle Internet Financial. This happened as a result of the USDC stablecoin, governed by the Centre Consortium being dissolved. At the same time, the USDC is integrating six new blockchains. This takes the number of blockchains to 15. As the next move, Circle is going to bring new governance as well. According to Coinbase, USDC goes beyond crypto trading.
New Fed Messaging on Inflation and Interest Rates Perplex BTC Bulls
Bitcoin’s price is acting quite erratically for the past week. As per the analysts, it’s the rising interest rates that are taking a toll on the original crypto. However, customer spending and home sales improved recently. The experts even forecast that GDP growth is going to be 5.8% in the third quarter. The price was stuck in a tight range for several weeks. But on Thursday, it dropped to $28,000. Still, investors are hopeful about it.
Public Good Staking Useful To Create Sustainable Blockchain
At a global hackathon, some developers came up with an ingenious idea. The developers and builders supported its funding which raised nearly $30 Million. In 2021, the team created Dora Factory, a more sustainable option for fundraising. The platform has brought forward new governance structures. It also focuses on a global decentralized network of builders. Some specialists praise its usage of the open-source community. Also, it supports decentralized technology with many unique solutions.
Buterin Transfers $1M ETH to Coinbase With 600 Ether Deposit
Vitalik Buterin, the co-founder of Ethereum is known for doing investment and almsgiving too. Recently, he sent a generous amount of $1M to Coinbase. As per the market experts, the decline of 10% in ETH’s market capitalization made Buterin take this decision. On Monday, Ether recovered and reached $1700. According to Lookonchain, the techpreneur withdrew Ether $1.6 Million on Sunday, August 20th. While the speculations are rife, no one is sure about the reason.
DeFi Social Media Platform Friend. tech Became A New Sensation
Friend.tech has emerged as a new buzz among crypto users. The platform enables the members to buy “shares” of people. The concept has hit home with so many digital asset users. Its database was also listed briefly on GitHub. Reportedly, the platform generated $25 Million by the collection of fees. Dune Analytics confirmed that the platform got at least 80,000 users till Sunday.
Conclusion
These pieces of news help investors develop a clear perspective. They enable market participants to predict things about the markets. With these listed items, one can be one step ahead in crypto market studies.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
