Latest Ruling On XRP Tokens Boost Trading Volume On Spot Exchanges

The latest ruling about Ripple’s sales of XRP on exchanges not being constituted as selling securities has pushed up the trading volume of the token across various centralized exchanges. According to the data from The Block, the seven day moving average for spot trading volumes increased from $12.74 billion to $16.56 billion. Crypto-related equities like Coinbase also saw a surge in the wake of the ruling.

Bitcoin Crosses US$31,000 Mark With XRP Ruling

The US court ruling about the sales of XRP on exchanges as not equivalent to selling securities has pushed the price of Bitcoin past US$31,000 in the wake of the ruling. This caused the token to rise by 3.45% according to CoinMarketCap. Similarly, Ethereum also benefited from the positive news, rising by 7.69% and breaking the US$2,000 mark

DeFi Services Continue To Draw The Most Attention Amongst VCs, Says Galaxy Digital Report

Financial services and investment management company Galaxy Digital recently released a report on the state of crypto and blockchain venture capital investments in the last three months. Overall, decentralized finance services raised the most venture capital money with an estimated $473 million, and this includes financial services such as trading, exchanges, investing, and lending. Other noteworthy points to note are that crypto startups in the United States continue to attract the most attention in the venture capital space, and Seed plus Series A fundings make up 75% of the funds raised.

Major Centralized Exchanges Rush To Relist XRP Token For Trading

In the wake of the XRP ruling by the US courts, a number of key centralized exchanges have moved to re-list XRP as a tradable asset for their US customer base. While the result did not give a definite legal ruling on the secondary sales of XRP on exchanges, it has boosted the confidence of crypto exchanges to offer the token again in the US, which was previously paused when the case was initiated in 2020.

TON Open Source Developers Have Net Gain Of 25% Over Two Years, Says TON Developer Report

Electric Capital, an early stage venture firm in the crypto space, released a report on the number of TON developers that are building on the network. Despite the continued market downturn, the TON ecosystem has seen a net 25% growth in the number of developers building TON-based applications. While there is a dip in developers when considering the period which coincides with the bear market, those who are invested in the network for the long-term have continued to stay for more than a year, and their contributions make up at least 80% of developments occurring on the network.

TON Launches Wallet Pay To Bring Real World Payment To Users

The development team behind the TON wallet has released the Wallet Pay function on the Telegram-based application for TON users. This allows those with cryptocurrencies in the TON wallet to purchase daily goods and services with TON, USDT, or Bitcoin through the Telegram app interface. The wallet also has the added function of allowing users to top it up with a debit or credit card which converts fiat to crypto, creating a simpler, easier customer experience.

Coin98 Forges Collaboration With Klaytn To Drive DeFi Adoption In Vietnam

Coin98, a decentralized finance platform that offers finance services on multiple blockchains, has engaged in a collaboration with the Klaytn Foundation to expand the accessibility of DeFi services in Vietnam. Coin98 currently has an initial agreement with Klaytn which allows their users to tap into the Klaytn ecosystem and create Klaytn wallets to manage their KLAY tokens, and the collaboration will bring the Coin98 community closer to the DeFi services offered on the Klaytn network.

EOS Foundation Unveils Developer Incentive Program For EOS EVM Ecosystem

After launching the EVM-compatible EOS EVM protocol, the network has seen an exponential growth in activity and total value locked. To drive further growth and expansion of the EVM layer, the EOS Foundation has unveiled a new incentive program for EVM-based applications to build on the EOS EVM network. The EOS EVM Incentive Program (EEIP) will offer both monetary support of up to US$50,000 for selected projects, along with additional resources to assist with marketing and development.

Flare Network Aims For Greater Network Decentralization With Secondary Reward Band

A proposal to add an extra reward band and increase the number of providers being awarded on the network was proposed under the Flare Network’s FIP.03 proposal. This is intended to allow more data providers to cover their infrastructure costs with their rewards, and in turn make the network more decentralized by increasing the number of data providers. The proposed secondary band rewards is already active on the canary network, Songbird, and the same feature is expected to pass on Flare Network too.

Mantle Network Launches ‘Citizens of Mantle’ NFT Collection For Community

Mantle Network, an upcoming Layer-2 Ethereum scaling solution that uses Optimistic rollup coupled with an innovative data availability solution, has recently launched its inaugural native NFT collection called ‘Citizens of Mantle’. The NFT is intended to represent one’s participation in the Mantle network, and will act as an achievement token by recording the user’s activity and accomplishments on Mantle. Active early contributors of the Mantle Ecosystem are eligible for the whitelist, although other members can also sign up to verify for the whitelist too.

Version Two Of RCNet On Radix’s Babylon Mainnet Is Now Live

The Radix developer team released V2 of the RCnet which aims to improve the experience for other developers building on Radix. Babylon, the term given for Radix’s mainnet, previously rolled out the first RCnet in March this year and was focused on providing tooling plus standards, along with a core API. The second version offers a better authentication developer interface, native blueprints for resource pools, and a feature-complete implementation of their programming language, Scrypto.

World Mobile Targets US Rural Connectivity With Latest Licensed Spectrum Approval

World Mobile, a team that is seeking to build interconnectivity through the first mobile network built on blockchain infrastructure, has recently clinched the secured licensed spectrum in the United States. Currently, the Federal Communications Commission allocates spectrum wavelengths to regulate its use effectively, and the license spectrum will enable the team in their goal to deploy decentralized network infrastructures in rural areas around California, New Mexico, Nevada, and Utah which face constant widespread underconnectivity.

DApps Form Majority Of Approved Grants By Algorand Foundation, Says Algorand Ecosystem Funding Report

To provide more insight into the distribution and approval of ecosystem funding initiatives by the Alogrand Foundation, the team released its Ecosystem Funding Report that covers grants approved in the last three years. Under the first grants program, AlgoGrants, only 35% of applicants were approved under a comprehensive criteria, and 70% of those comprised of decentralized applications focused on bringing utility to the ecosystem.

Synthetix To Launch Derivatives Exchange Infinex With CEX Features

Synthetix, a DeFi protocol that offers synthetic assets, will be launching a new derivatives platform, Infinex, to the decentralized trading selection of the Synthetix Defi ecosystem. The platform will cater more to traders that prefer a centralized order book similar to what current centralized exchanges are offering, and access to the platform will offer the familiar username-password access while maintaining a non-custodial setup.

Proposal Raised To Migrate Celo Blockchain To An Ethereum Layer Two Network

A proposal raised by CLabs, who initially developed the Celo blockchain, is looking to migrate the network from an EVM-compatible Layer-1 blockchain to an Ethereum Layer-2 scaling solution. The key reason for doing so is to remove the need to monitor and upgrade toolings plus libraries composability, all while increasing security and reducing transaction fees at the same time. Some concerns on the downside are whether there could be extra costs for sequencers, and if the sequencers' rewards would match with current validator rewards.

The Total Number Of TON Accounts Cross The 3 Million Mark

The number of accounts created on the Open Network (TON) blockchain has reached a total of 3 million this month with the blockchain crossing the first million just a year ago, and its second million in January this year. Despite building through a bear market period, the continuous growth of the TON ecosystem indicates positive sentiments and interests from the Web3 community.

Ribbon Finance Merges With Aevo Exchange For Better Derivatives Trading

The project team behind Ribbon Finance, a DeFi protocol that allows users to access crypto structured products, is seeking to merge the platform together with its sister DeFi protocol, Aevo, to provide better on-chain derivatives trading services to its user base. This will house the products offered by both services under one roof and traders will be able to easily navigate between derivatives, OTC, and structured products. At the same time, this merger will also allow the team to deploy structured products on the Aevo L2 rollup in the near future.