The last days are spent with the recovery process of the market correction deepening to $ 33,184.06 in Bitcoin. Altcoin projects also continue their critical partnership, listing and mainnet work for their 2022 goals. Here are 8 altcoins and developments of the week.
Important developments from 8 altcoin projects
Let’s start with the latest developments from the Ripple and SEC case. The long-running exploration process was delayed 2 more times before. While the parties could not gain an advantage over each other in the process, February is critical for the outcome. The Discovery Process, previously postponed to November 12, 2021, January 14, and then February 28, is finally coming to an end. According to the statements made, Ripple company has the right to reply until February 25. In other words, after this date, the process will accelerate and the result will be reached.
The popular meme token Shiba Inu (SHIB) is listed on the Canadian-based Biconomy exchange. Operating since 2019, the platform has a 24-hour trading volume of $558 million, according to Coinmarketcap data. The official statement is in the tweet below.
Leading cryptocurrency exchange FTX has announced that it has raised $400 million in funding from a number of home investors, including Japan’s SoftBank Group Corp and Singapore’s Temasek Holdings. Thus, the firm’s investment fund reached $8 billion. In statements made on Wednesday, Brett Harrison, President of FTX USA, made the following statements.
What this increase means for us is that we are officially on the scene of the biggest rivals of cryptocurrency exchanges in the US and signal to the world that we will continue to expand very quickly.
cryptocoin.com In other developments as we report, FTX CEO Sam Bankman-Fried (SBF) openly defended Solana (SOL) in the criticism of the network malfunction.
In detail, on January 21, 2022, when the crypto markets hit rock bottom, “Ethereum killer” Solana suffered a terrible network outage. However, not all users of their ecosystem were upset by the result. Tomas Eminger shared a series of tweets to explain the reasons for Solana’s collapse and the emergency solutions proposed by the community and Solana Foundation. Details can be found here:
Let’s continue with Solana, which is associated with the FTX exchange. In recent developments, NFT marketplace giant OpenSea is working to bring Solana support to the platform. The allegations are based on screenshots shared by crypto researcher Manchun Wong. The expected integration could be a hidden port created for the Phantom wallet. The altcoin project has become the strongest competitor of Ethereum with low fees and high speed service throughout 2021.
The first project to win the Polkadot Parachain Location Auction, Acala has launched a DeFi-focused mainnet. In the official tweet, the project announced the “launch” of the ACA token. Alongside this development, Binance announced the listing of Acala Network (ACA). The altcoin debuted on the world’s largest cryptocurrency exchange on January 25, 2022 at 12:00 UTC.
In a newly released roadmap for 2022, Stellar (XLM) states that it provides direction on its 2021 targets. As part of its 2022 strategy, he notes, the nonprofit Stellar Development Foundation (SDF) has made its commitment to supporting the development of smart contracts at Stellar. With smart contracts intended to reach the Stellar Blockchain, XLM will join companies like Ethereum, Polkadot, Cardano, and Cosmos with the activation of smart contracts.
Alongside Shiba Inu’s (SHIB) Biconomy listing, KuCoin exchange will list a new altcoin today. Metastrike (MTS) will start trading from 26 January at 13:00 CET. Shooting starts on January 29 at 13:00 CEST. The official listing news of the exchange:
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