Author: Crypto News Live

Blockchain Prime Protocol launched on Moonbeam, Ethereum, Arbitrum and Avalanche today. It offers a cross-chain prime brokerage that seeks to eliminate the need to use token bridges, swaps or wrapped assets. The protocol uses Axelar’s General Message Passing for interchain communication, and allows users to cross-margin their entire portfolio and borrow against all of their on-chain assets through one protocol. Colton Conley, the project’s founder, told Blockworks that existing blockchains operate as separate islands. He noted that this can be quite capital inefficient when an investor has their on-chain portfolio spread across multiple blockchains, L1s and L2s. “Right now the…

NFT Non-fungible token (NFT) collection Pudgy Penguins has announced the completion of its $9 million seed funding round led by 1kx. The company plans to use the new capital to scale its intellectual property and team. The funding round comes over a year after the Pudgy Penguins project voted out its founders for allegedly draining treasury funds and failing to meet community goals. In April 2022, entrepreneur Luca Schnetzler (Netz) bought the Pudgy Penguins rights for $2.5 million with a promise to build out the brand, which soon involved licensing deals and social media campaigns, pushing the NFTs to an…

Article source, here. TL;DRAn artist called Trevor Jones created a free to collect NFT, to pay homage to King Charles’ coronation – and 20,000 of them were minted (!?)Each NFT granted the holder a chance to win one of 444 limited edition signed physical prints, from Jones.Full StoryAn artist called Trevor Jones created a free to collect NFT, to pay homage to King Charles’ coronation….and 20,000 of them were minted!?Free or not, getting 20k people to do take action on something is no small task.NFTs + The Royal Family?Honestly, when we first heard about the project, we didn’t see the…

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion Sellers were temporarily stalled at $1800 support at press time.  Negative sentiment persists despite the accumulation seen in the past few weeks. The U.S. stock and crypto market posted mixed results on 10 May after inflation fell slightly below 5%. In particular, Ethereum [ETH] increased to $1887.5 before sliding below $1800 on the daily session.   Similarly, Bitcoin [BTC] reclaimed $28k before nosediving back to $27k. At press time, ETH traded at $1833 and flashed red – an overall bearish…

Ascenders, an in development, open world MMO, is holding a mint for Land NFTs later this month. These NFTs will be usable as early as June for a resource extraction game, set in the Ascenders universe. Ascenders brings a land mint to their playerbase, offering NFTs that will provide game utility in both the primary MMO, and a new, soon to be released land simulation game called Ascenders Simulation! The land sale opens on May 18th and will be held on MetaDrop. A total of 6,500 NFTs are up for grabs, priced at $70 in ETH for those on the…

Although the cryptocurrency sector has been going through a rough patch, its collective market capitalization threatening to drop below $1 trillion, some of its assets, particularly Solana (SOL) and Cardano (ADA), have performed better than others in terms of risk-adjusted returns. Specifically, among the top altcoins by market cap, Solana and Cardano, have recorded the highest year-to-date risk-adjusted returns for the period through May 3, as measured using the Sharpe ratio, according to the data published by crypto market analysis platform Kaiko on May 9. Largest altcoins by market cap’s risk-adjusted returns. Source: Kaiko What does this mean? As the…

A state-subsidized Chinese artificial intelligence (AI) company recently announced the launch of “Spark Model,” an AI system designed to compete directly with OpenAI’s ChatGPT.The launch by the company, iFlytek, took place at a tech event in Hefei called “Spark Desk” and featured a full demonstration of the new system’s capabilities. .#China’s leading intelligent speech and artificial intelligence (AI) company iFLYTEK launched its generative language model on Saturday. The company said it will keep updating it to a version better than the rival ChatGPT by Oct.. pic.twitter.com/zjSrPbAXKy— Beijing Daily (@DailyBeijing) May 8, 2023 Per a translation provided by Bing, iFlytek founder and…

The divergence between daily miner revenue and 365-day SMA has broadened since the start of 2023. There were instances of transaction fees exceeding the block rewards given to miners. While the growing congestion on the Bitcoin [BTC] network may have spooked purists and affected users who now have to wait for extended periods of time to get their transactions validated, BTC miners have been laughing all the way to the bank. Read Bitcoin’s [BTC] Price Prediction 2023-24 According to a data scientist from analytics firm Glassnode, miners earned about $17.7 million through transaction fees on 8 May. This was higher than what…

A widely followed crypto analyst says altcoin traders should keep an eye on the market as king crypto Bitcoin (BTC) consolidates. Looking at BTC, top analyst Michaël van de Poppe predicts Bitcoin must break through $29,200 before it can reach new highs. “The thing is that;  Bitcoin reached $27,400 and gives a great response.  I would still argue that possibly $26,800 is an entry spot.  What do we need now? Flip $27,800 for support and break $29,200. $29,200 is the essential breaker before new highs.” Source: Michaël van de Poppe/Twitter With BTC trading for $27,150 at time of writing, down 3.5% in…

Despite an undeniable past performance of bullish trends and staggering price spikes, the Cardano (ADA) market has been experiencing a bearish rally that shows no sign of slowing down. This unprecedented downturn has left many investors scrambling to understand the situation and predict the next ADA price target.Cardano: The Bearish TideCardano, a third-generation blockchain platform with a unique proof-of-stake consensus mechanism, was showing an impressive trajectory in the last few weeks. However, the recent market trends are a stark contrast to its past glory. The ADA token has been slipping down the slope with no sign of an immediate recovery.Fresh…