New Kind of Network (NKN) gains 340% to become ‘the biggest blockchain in the world’

One telltale sign of a growing altcoin season is when obscure and lesser-known projects start putting on face-melting gains as traders scramble to jump on the rising price.  New Kind of Network (NKN) has emerged over the past month as one of these surprise gainers, increasing 1,400% from a low of $0.052 on March 8 to a new all-time high of $0.779 on April 6. NKN/USDT 4-hour chart. Source: TradingView NKN is a peer-to-peer network connectivity protocol and ecosystem that uses economic incentives to “motivate internet users to share network…

Coinbase’s Q1 Call Reveals Growth, Product Roadmap

Key Takeaways Coinbase broadcast its Q1 earnings call today, featuring CFO Alesia Haas and CEO Brian Armstrong. The executives revealed Coinbase’s expected future growth, plus its plans for new features and supported assets. However, the executives spent almost no time discussing Coinbase’s IPO, which will take place next week. Share this article Coinbase broadcast its Q1 earnings call today, revealing its expectations for financial growth and its plans for future products. Usage Stats Are Strong “2021 is off to a strong start,” Coinbase CFO Alesia Haas stated during the call.…

dYdX Has Launched Layer 2 Perpetual Contracts

Key Takeaways dYdX has released a new version of its derivatives trading platform that offers low fees and reduced confirmation times. The new version is designed to tackle scalability, one of the greatest challenges facing decentralized finance (DeFi). This version reduces the barrier to entry by removing the onboarding process that other exchanges require. Share this article dYdX has launched its Layer 2 perpetual swap platform, according to an announcement from the project today. Layer 2 Service Is Now Live dYdX launched its closed alpha in February and reported widespread…

Polkadot futures open interest hits $1B as DOT price reaches a new ATH

On March 24, the price of Polkadot’s DOT token corrected by 23% in a brief six-hour period, resulting in $174 million in liquidations across the futures market. This swift downside move also cut the aggregate open interest by 26%. Now that DOT’s open interest is climbing to a new record high at $1 billion, investors may be worried that another price crash is on the way. DOT/USDT on Binance. Source: TradingView Although the event severely hurt leveraged longs at the time, the token managed to rally 46% in 10 days, reaching an…

Rewards system allows decentralized messaging app users to earn crypto

Make Sense Labs, a decentralized application firm backed by venture capitalist Tim Draper, now allows users of its social messaging app to earn rewards in crypto. According to an announcement from Make Sense, the technology company launched the crypto rewards feature on Monday on its Sense Chat app first developed in 2018. The app reportedly allows users to earn the company’s native SENSE tokens by interacting with others online, subscribing to different channels, inviting new users and creating message threads. Crystal Rose Pierce, CEO of Make Sense and wife of…

Alameda Research invests $4M in Vietnamese DeFi project

Alameda Research has expanded its investment portfolio by allocating $4 million to Coin98 Finance, an up-and-coming decentralized finance platform from Vietnam, according to Chinese fintech outlet ChainNews. Coin98 Ventures, the venture capital firm behind Coin98, reportedly operates the biggest cryptocurrency fund in Vietnam and is also a key backer of the Solana Ecosystem Fund, which recently raised $40 million in strategic investments from major digital currency exchanges. As ChainNews notes, Coin98 operates a decentralized exchange and wallet, with transaction volumes totaling $20 million in March. The exchange boasts of roughly…

Litecoin On The Verge Of Monster Move Against Bitcoin

Litecoin has been among the worst performers in the crypto market in 2020 and 2021 thus far, despite the coin’s longevity in the top ten assets by market cap. The coin’s fortunes could soon turn completely around, due to what looks to be a monster-sized move brewing against Bitcoin on the altcoin trading pair. Here’s why technicals suggest that near and mid-term Litecoin should outperform the top cryptocurrency by miles. Litecoin Longevity Helps Altcoin Maintain Top Ten Crypto Cap Ranking The cryptocurrency market is constantly changing. The top ten cryptocurrencies…

Celer (CELR), Cartesi (CTSI) and Compound (COMP) rally as DeFi heats up

Bitcoin bulls are still struggling to push the price to a new high but the positive sign is that BTC has not corrected sharply in the past few days and the top-ranked cryptocurrency has held a market capitalization above $1 trillion since March 26.  While many are wondering what Bitcoin’s next move will be, a Bloomberg Intelligence report by senior commodity strategist Mike McGlone projects that BTC will rally to $80,000 in the second quarter rather than slump to the $40,000 level. Crypto market data daily view. Source: Coin360 Bitcoin’s consolidation has not held…

Real-world data comes to NFTs as street artists geotag their work

A Latvian artist going only by the name of Kiwie has announced their intention to release more than a thousand nonfungible tokens that represent real-world street art. According to a statement from Kiwie, the NFT pieces will allow art connoisseurs to physically own street art without removing the brick wall, sidewalk or other infrastructure to which it was applied. The NFTs feature 3D renderings of the artist’s “Fat Monster” character spray painted in 1,001 real-world locations with corresponding geotags. “Using NFTs to represent ownership allows to maintain the beauty of…

Paxos applies for clearing license with SEC following successful pilot tests

Paxos, a United States-based stablecoin operator, announced Tuesday that it will apply for a formal clearing agency license with the Securities and Exchange Commission, or SEC, in a move that would bring another practical use case for blockchain technology in traditional markets.  As Reuters reported, the pursuit of an agency license by Paxos follows a successful pilot test of its same-day settlement system. Credit Suisse, a Zurich-based financial institution, and Instinet, the trading arm of Nomura Holdings Inc., participated in the pilot by settling U.S.-listed stock trades on the same…