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FLOKI's gains coincide with the launch of its tokenization platform, TokenFi, but is the rally sustainable? Bitcoin's (BTC) rise to as high as $35,000 this week has also lifted a number of memecoins , including Floki (FLOKI), which has beaten its top rivals in percentage gains. FLOKI price up 140% amid Bitcoin ETF hype, TokenFi launch As of Oct. 27, FLOKI had surged over 140% to $0.00004261, its highest level in five months. The memecoin, known for its controversial marketing tactics, started rallying after New York-based Grayscale Investments filed for a new spot Bitcoin exchange-traded fund (ETF) on NYSE Arca, as shown below. FLOKI/USD daily price chart. Source: TradingView Looking at the past 24 hours, FLOKI's gains have picked an additional boost from the launch of its tokenization platform, TokenFi, with its own native token, TOKEN, on Oct. 27. Notably, users will be allowed to stake their FLOKI holdings to receive TOKEN. $FLOKI is launching staking and a new tokeniz...

Bitcoin mining company Hut 8 released a new update this Tuesday, October 10, unveiling details of its BTC production for the past month. However, with the details of BTC production, the company also decided to halt BTC sales in anticipation of the halving. The report said that Hut 8 managed to mine 111 BTC in September 2023 and claimed it did not sell a single satoshi during this period. Hut 8 is Bullish on BTC Price in the Long Term Bitcoin halving — the event after every 210,000 blocks are created and cut the mining rewards in half — is commonly believed to be the main force behind every significant bull run. While halvings are generally bad for miners, since the amount of BTC gets halved, the surge in the coin’s following price usually makes up for the reward drop. Hut 8 said it is bullish on the coin’s long-term price and currently doesn’t need to sell any newly mined BTC to finance operations. Erin Dermer, Hut 8’s senior VP of communication...

Join Our Telegram channel to stay up to date on breaking news coverage Despite the crypto market’s poor performance, the IoTeX is up 3.32%, extending its winning streak, and is now trading at around $0.0336 due to network development and increased user adoption. The leading developer of IoTeX, MachineFi Lab, received funding from a California venture capital firm due to the platform’s ability to provide consumers unprecedented access to their data. Messari Research claims that IoTeX is ready to expand its usage because it intends to onboard new and legacy internet-of-things devices without building them. However, the reason for its bullish resurgence is that no other blockchain IoT project is currently as comprehensive as IoTeX. On the negative side, the values of many cryptocurrencies, including the world’s largest cryptocurrency, Bitcoin (BTC), as well as Ethereum (ETH), XRP, Cardano (ADA), Solana, and meme token Dogecoin (DOGE), have all dropped significant...

Join Our Telegram channel to stay up to date on breaking news coverage Alchemy, a web3 developer platform, is planning to raise $12 million for a new venture capital fund. Alchemy is a heavy investor in the web3 sector through its VC division and a separate grants program. Alchemy to secure $12M for new VC fund In a filing with the US Securities and Exchange Commission (SEC) on September 9, Alchemy revealed its plans to secure this funding. The Alchemy SPV III fund has not commenced plans for raising the capital. In the SEC filing, Alchemy did not reveal the goal behind this fund. However, it has been revealed that the co-founder and CTO of Alchemy, Joseph Lau, will be the executive officer for the fund. Alchemy has been actively involved in investments related to the Web3 world. In December last year, the web3 developer company unveiled a VC division where capital would be invested in large crypto and web3 focused companies such as Dapper Labs and OpenSea. Buy Crypto Now...

Join Our Telegram channel to stay up to date on breaking news coverage Crypto traders who believe in the true essence of financial freedom tend to gravitate towards best decentralized exchanges for many reasons. Two among them are: DEX allows users to swap their cryptos easily. Decentralized Exchanges don’t ask for user IDs or KYC documents. There is also a third reason that has become more apparent in the crypto market. That is, many people lost their money during the bearish phase. While most exchanges have bounced back, the crowd’s faith in them is still low. If you’re among that crowd, here is the list of the 3 best decentralized exchanges to trade crypto in 2022. 3 Best Decentralized Exchanges of 2022 The interface of most decentralized exchanges I the same. Therefore, when selecting, the more important factors you must consider are security and ease of use. Here is the collection of three decentralized exchanges that meet the bill. OKX DEX OKX is ...

Join Our Telegram channel to stay up to date on breaking news coverage Republican Senator Bill Hagerty said a lack of regulatory clarity is forcing crypto companies out of the US. “It is a terrible environment,” Hagerty said at a Cato Institute event onSept. 7, adding that crypto companies are shifting to overseas locations with more favourable regulatory frameworks. Hagerty decried the Securities and Exchange Commission chair Gary Gensler’s regulation-by-enforcement strategy, admonished him for allegedly approaching crypto exchange Binance to serve as an advisor, and slammed central bank digital currencies, which he said would make the US more like China in enabling it to police the movement of funds. The call for regulatory clarity comes as the US securities regulator continues to take enforcement action against the crypto industry. Hagerty is one of the leading voices on crypto in the US Senate. In March, he wrote a letter to the Federal Reserve Chair Jero...

Join Our Telegram channel to stay up to date on breaking news coverage Ternio BlockCard, a “crypto fintech platform” that allows users to convert their cryptocurrency over for “real-world utility,” is now the number one cryptocurrency debit card for consumers as rated by CryptoCurrencyCard.org, according to a press release. The rating website has also covered all sorts of other products in the prepaid and credit card scene. Out of over twenty different cards, BlockCard, got a 10 out of 10 regarding customer support and fees, though it scored a 9 in terms of available crypto and ease of use, and an 8 regarding availability. Speaking on the matter is CEO and Co-Founder of Ternio, Daniel Gouldman, who had said: “We just rolled out 6.38% crypto back rewards so that’s a huge deal. We’re rolling out a mobile app for iOS and Android, decentralized wallets, checking accounts – domestic and international, the ability to buy Bitcoin with a debit...

Join Our Telegram channel to stay up to date on breaking news coverage OKX, the world’s sixth-biggest cryptocurrency exchange, plans to expand into India and explore Web 3 applications in the country, Coin Desk reported. The company plans to scale up its wallet services in the country “exponentially” and will tap into India’s developer community, chief marketing officer Haider Rafique told Coin Desk in an interview. “We are not going to come in and cowboy this thing,” he said. “We’re going to learn about the community. We’re going to work with local folks. Figure out where we can add value.” OKX has about 200,000 wallet users in India now, which is about 5% of the nation’s Web3 users, he said. Follow me! You will be surprised 😊🥳 https://t.co/VPZVGsSwkJ — OKX India (@OKXIndia) August 31, 2023     He said that the firm is trying to find developers and assess their contributio...

Join Our Telegram channel to stay up to date on breaking news coverage US lawmakers are urging federal officials to crack down on crypto firms that may be evading as much as $50 billion in taxes. Democratic Senators Elizabeth Warren, Bernie Sanders, Bob Casey, and Richard Blumenthal wrote a letter to the Department of Treasury and the Internal Revenue Service to urge them to act swiftly in implementing rules to close loopholes that are allowing crypto firms to syphon off potential tax revenues. The senators said regulators are yet to develop regulations on new reporting requirements for cryptocurrency trading that had been mandated by the 2021 Infrastructure Investment and Jobs Act, and that the deadline set by Congress is for the end of this year.  “Nearly two years have passed since the law was enacted, and the implementation deadline is less than six months away – but Treasury has yet to publish proposed rules,” wrote the senators.  “Witho...

Smart contracts should be viewed as “proof-of-concept” rather than as critical for universal adoption. That may mean exploring alternatives. Smart contracts have reshaped the possibilities of what blockchain and crypto can achieve, and we can all acknowledge that. That doesn’t mean they’re the be-all-end-all solution to widespread adoption. Being overzealous about any kind of innovation can also contribute to its stalling, or even failure if other factors don’t align. The mentality of assuming new technology is perfect and wondering why everyone hasn’t caught up to its genius is outdated. Not only does it create an adversarial relationship when inevitabilities, such as regulation, arise, but it also diminishes the motivation to improve on new applications to maximize their value. Smart contracts and companies building their products around their implementation are now nearing this impasse. So, what can be done to close these gaps and potentially set the stage for an alternative? The g...

Join Our Telegram channel to stay up to date on breaking news coverage The National Australia Bank (NAB) is implementing measures to protect customers from cryptocurrency scams, including blocking certain crypto platforms, as part of its bank-wide scam strategy. NAB Joins Australian Banks Against Crypto Fraud Fraud in the crypto industry has become one of the biggest threats to global financial security. According to statistics by NAB, Australians lost more than $221 million to crypto scams in 2022. Additionally, over the last 30 days, crypto scams have accounted for close to 50% of scam funds reported to the Australian Financial Crimes Exchange. To protect its customers and residents, Australia has been boycotting transactions to cryptocurrency exchanges through its banks. The crackdown, which has seen the participation of banks such as Westpac and the Commonwealth Bank, has resulted in the blocking of transactions amounting to millions to exchanges. NAB has become the mos...