Polkadot plans to do research on ‘token morphism’. Aurora’s Rainbow cross-chain bridge has been restored after its temporary suspension. Whales carry huge amounts of XRP. And there is more news regarding altcoin projects that are on the radar of Turkish crypto investors.
There is news of altcoin projects on the radar of crypto investors
Polkadot to research ‘token morphism’
The Polkadot community is considering conducting a research study centered around ‘token formalism’, a term used to describe the process used to convert the protocol’s native DOT token from a security to software. Polkadot announced that it had reached token morphism in November 2022, a process it says is the direct result of three years of dialogue with the US SEC. According to a post on the governance forum, the project is now considering funding a study that will explore how it managed this success.
Aurora’s Rainbow cross-chain bridge restored
Rainbow Bridge, a cross-chain bridge integrated with Aurora Blockchain, has been fully restored after being temporarily suspended, presumably due to security concerns. On February 11, Aurora suspended the bridge as a ‘precautionary measure’. Alex Shevchenko, CEO of Aurora, told users that the bridge has reopened and no funds were lost during the temporary suspension.
Whales carried over 592 million XRP
XRP, Ripple’s native token, is witnessing a significant increase in whale movement. However, crypto whales have been experiencing an XRP accumulation spree since December 2022 as the Ripple Counter-SEC lawsuit nears a verdict. Meanwhile, Whale Alert reported that a total of 592,258,033 XRP (worth $227,439,311) was moved on the platform in just six separate transactions.
Venom Blockchain signs partnership with DAO Maker
The Venom Foundation will collaborate with a new partner to develop Web3 products focused on addressing real-world use cases. Thus, the Venom Foundation strengthens its dominance in the local Blockchain market. According to the official statement shared by Venom, a ‘Blockchain growth solutions provider’ known for its IDO launch pad for cryptocurrency investments has entered into a long-term strategic and infrastructure collaboration with DAO Maker.
Optimisim (OP) on stage with OP Stack
The Contract Collateralized Income plan, or CSR, has been among the most trending ‘killer features’ of Canto (CANTO), the first major L1 assembled in 2023. He explained how Optimism, one of the largest Ethereum scalers, will implement this functionality. In this context, today, Optimism developer Kelvin Fichter shared the details of OP Stack, an entirely new scaling mechanism that could soon be implemented in the Optimism (OP) ecosystem.
Curve DAO Token (CRV) rose against the market!
Curve DAO Token (CRV) has caught the attention of crypto enthusiasts today. cryptocoin.comAs you follow, despite the crypto market jolt with the negative news, it rose more than 14% at one point. The funny thing is that this news turned out to be the trigger for this kind of altcoin price action. The focal point of all things algorithmic stablecoin and yield farming, Curve Finance has been one of the beneficiaries of the SEC’s regulatory nightmare regarding stablecoins. The SEC’s move brought attention to the DeFi industry, and in this case, decentralized stablecoins.
Baby Doge Coin (BABYDOGE) burning action at full throttle
The official Twitter account of meme coin Baby Doge Coin announced that a staggering $321,000 equivalent of tokens have been removed from circulation in the past 24 hours. It also shared the total amount of BabyDoge that has been incinerated on the project since incineration began. According to another tweet posted earlier, that amount will obviously increase as BabyDoge developers launch a new cremation portal for the community today. Anticipation of this launch pushed BabyDoge’s price to the highest level of the year.
Tether prints 1 billion USDT amid BUSD scandal
As reported by Whale Alert, Tether has minted another one billion USDT. The incident took place in the midst of the Binance USD (BUSD) scandal, which the SEC reportedly sought to recognize as unregistered securities. Tether’s CTO, Paolo Ardoino, announced to the public that the printing of one billion USDT is an authorized but unpublished transaction. Ardoino emphasized that this amount will be used as inventory for export requests and chain-swaps in the coming periods.
Cardano ready to launch ‘Valentine’ upgrade
Input Output Global (IOG) has announced that the SECP upgrade in Cardano will begin on February 14, 2023. The upgrade that will increase Cardano’s security and interoperability is called ‘Valentine’. IOG informed the community to all stakeholders, including Stake Pool Operators (SPOs), exchanges, and DApps/tools developers.
102 million SHIB burned in one week, Cryptocom burned 34 million
The Shiba Inu community continues to make headlines in crypto as they burn millions of tokens weekly. This week was no exception, with 102,145,155 (102.14M) SHIBs permanently removed from circulation with 28 transactions. Crypto.com was the most important contributor to the SHIB burn this week. Crypto.com sent an impressive 34.9 million (34.90M) SHIB to hell address in one big transaction.
Coinbase adds BLUR to its list
Crypto exchange Coinbase has announced that it will list Blur (BLUR). Meanwhile, it is worth noting that the token of the Ethereum-based altcoin project has not yet been traded on any crypto exchange. The altcoin is making its Valentine’s Day debut as it will launch on most platforms on February 14.
Zilliqa ROLL1NG THUND3RZ Web3 console, ecosystem opening soon
Max Kantelia, co-founder of Zilliqa, announced the launch of the ROLL1NG THUND3ERZ, describing the progress made to date as a ‘tremendous achievement’. ROLL1NG THUND3ERZ stands for a Web3 gaming and hardware company. ROLL1NG THUND3RZ develops fun games using Blockchain instead of adapting Blockchain technology to games.
BUSD, which left the exchanges, fell
According to Glassnode data, the amount of Binance USD (BUSD) leaving the exchanges fell to $ 40 million from the $ 3 billion recorded in December 2022. The chart below shows the daily BUSD withdrawn and deposited from crypto exchanges since mid-November 2022.
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