Author: Crypto News Live

With NFT sales volume steadily declining since January 2023, memecoins — such as $PEPE, $DOGE, and $TURBO — have emerged as the center of attention in the crypto space. Unlike conventional cryptocurrencies such as Bitcoin and Ethereum, memecoins are primarily used as trading instruments and lack any specific utility tied to particular blockchain features, such as Ethereum’s use of Dapps and DAOs. While memecoins give traders an opportunity to make large amounts of money in short periods of time, they are also very volatile and unstable. As such, they should be approached with caution. Here’s what to know about memecoins,…

Blockchain Financial technology company Digital Asset will start a privacy-enabled interoperable blockchain network designed to provide a decentralized infrastructure for institutional clients, the firm announced on Tuesday. Participants of the network, which is called the Canton Network, include BNP Paribas (BNP), Deloitte, Cboe Global Markets (CBOE), Goldman Sachs (GS), Broadridge (BR), S&P Global, and Microsoft (MSFT), among many others. “The Canton Network is a powerful answer to industry calls for a solution that harnesses the potential of blockchain while preserving fundamental privacy requirements for institutional finance,” Chris Zuehlke, partner at DRW and global head of Cumberland, another participant, said. “This…

NFT Fracton Protocol announced today that it had achieved a major milestone by becoming the top holder in several renowned blue-chip NFT collections. Fracton Protocol’s holdings include Doodles, Mfers, Valhalla, Genuine Undead, Renga, Fluf, and ENS 10k Club. The innovative NFT infrastructure has achieved this impressive feat through its fractionalization strategy and integration with KuCoin. Chido, Global Head of Community at Fracton Protocol, said: We are incredibly honored to become the top holder in these prestigious NFT collections. It highlights Fracton Protocol’s commitment to supporting valuable digital assets and our influential role in the NFT ecosystem. Fracton Protocol has unlocked…

BTC short-term holders could be the reason for BTC’s latest price drop as per CryptoQuant’s latest analsysis However, as of 10 May, market panic and FUD led to BTC dropping from $28k to 26k in an hour There has been a lot of speculation in the market ever since Bitcoin [BTC] fell from its high of $29,703 on 5 May to $27,333 on 8 May. Although BTC exchanged hands 0.65% higher over the last 24 hours, its seven-day performance still flashed red at press time. The fall of BTC could be a solid indication that there was massive ongoing selling…

Binance is rebranding its Ethereum staking product and introducing a liquid staking token less than two weeks after Ethereum’s Shapella upgrade enabled staking withdrawals. The token, called Wrapped Beacon ETH (WBETH), will allow Binance users to participate in decentralized finance protocols off the exchange. Users will continue to acquire Ethereum staking rewards while doing so. From Thursday, users can wrap Beacon ETH (BETH) tokens to WBETH and unwrap WBETH to BETH tokens on the exchange’s Ethereum staking page. There will be zero fees for the wrapping and unwrapping of these tokens. The initial conversion is one-to-one, but this is subject…

Kraken accounted for nearly 25% of all principal ETH withdrawals since the upgrade. 89% of all transfers classified as CEX were exchanges redistributing among their wallets, indicating low selling pressure. Almost a month has passed since the much-awaited launch of the Shapella Upgrade, a significant milestone which allowed stakers to withdraw their locked Ethereum [ETH]. Blockchain analytics firm Nansen published a report on 9 May which provides an overview of the network post-Shapella. Read Ethereum’s [ETH] Price Prediction 2023-24 As per the analysis, the amount of ETH staked on the Beacon chain increased from what it was during the time of the…

GameFi South Korean game publisher Neowiz wants to fund the next generation of Web3 games on Ethereum scaling network Polygon through its crypto subsidiary Intella X’s new $10 million gaming accelerator. The Intella X ecosystem currently offers a crypto wallet, decentralized exchange, and NFT marketplace. Its accelerator fund was created in partnership with Polygon Labs in an effort to bring Web3 games to the ecosystem. Earlier this year, Neowiz raised $12 million for Intella X from investors like Polygon Labs, major metaverse investor Animoca Brands, multi-chain NFT marketplace Magic Eden, and WeMix. “Intella X’s grant program will provide game developers…

Phantom Galaxies prepares a new airdrop for their NFT holders. This one consists of Catalyst NFTs, which owners can use to influence the trait generation in the upcoming Starfighter, Planet and Avatar mints! Phantom Galaxies will soon bring a new NFT airdrop to their players and supporters. This airdrop consists of Catalyst NFTs that will play a role in upcoming mints. Players will use Catalysts when minting Starfighters, Avatars, and Planets. All of these NFTs are generative, meaning that they will have some randomized traits when generated. However, players can influence these traits when minting by using a Phantom Catalyst.…

Key highlights:The total cryptocurrency market cap increased from $ 1.14T to $ 1.14T in the past 24 hours, representing a 0.20% changeThe Bitcoin price at press time is $ 27,656 after growing by 0.40% in the last 24 hoursThe total crypto trading volume increased by 0.20% in the past 24 hours, and is currently at $ 139.50BAll prices and changes are presented at the time of publication: May 10, 2023, at 06:00 UTCMarket OverviewThe total cryptocurrency market cap is currently $ 1.14T after a 0.20% increase on the day. The total crypto trading volume increased by 0.20% in the same time frame.Bitcoin is trading at…

According to a popular crypto analyst, the “Ultimate Crypto Power Play” involves two of the biggest players in the game: Bitcoin and Cardano’s ADA. Earlier today, Dan Gambardello, Founder of Crypto Capital Venture, as well as the host of the very popular YouTube channel “Crypto Capital Venture”, shared the following tip with his over 239K Twitter followers: Lately I’ve been building on #Bitcoin and accumulating on #Cardano. It’s the ultimate crypto power play.— Dan Gambardello (@cryptorecruitr) May 10, 2023 According to Gambardello, a unique shift is currently underway in the cryptocurrency realm, one that is primarily led by Bitcoin and Cardano. He believes…