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In the first month of 2024, Nigeria’s headline inflation rose from nearly one percent to 29.9%. However, on a year-on-year basis, the January 2024 headline inflation rate was 8.08 percentage points higher than the January 2023 rate. Many commentators identify foreign exchange shortages as the root cause of the naira’s poor performance against major currencies. … Read more
Binance has announced a competition through its crypto derivatives arm, Binance Futures, offering participants the chance to win a Tesla Model Y. According to the crypto exchange, the contest will unfold over four weekly challenges spanning from Feb. 18 to Mar. 17, 2024. Binance Futures Unveils Tesla Model Y Challenge and Daily Crypto Rewards Beginning … Read more
In the last 37 days, the newly introduced nine spot bitcoin exchange-traded funds (ETFs) have rapidly accumulated a remarkable total of 264,232.74 bitcoin, now valued at $13.5 billion based on the current exchange rates. Leading the pack, Blackrock’s IBIT ETF holds a substantial 43% of this total, with 115,989.80 bitcoins in its coffers. $13.5B in … Read more
A recent study focusing on the search term “bitcoin” through Google Trends data revealed that curiosity remained subdued even as the price soared above the $50K mark. Yet, anticipation for the forthcoming reward halving has hit a 90-day peak. Slated for April 2024, this significant occasion will slash the pace at which new bitcoins are … Read more
Friday saw Yuga Labs, known for creating the Bored Ape Yacht Club (BAYC) non-fungible token (NFT) series, unveiled its acquisition of Proof, a notable NFT startup behind the Moonbirds collection. Kevin Rose, founder of Proof, will assume an advisory role within Yuga, and the startup’s team plans to integrate into the Yuga framework. Moonbirds NFT … Read more
TLDR Arbitrum announced the release of more than 1.11 billion ARB tokens on March 16 of this year. Circulation supply is expected to reach 2.375 billion. Unlocks can act as bearish catalysts, as per The Tie, causing massive inflationary pressures. ALGT appears as an alternative after a $1.1 Million private seed raise within two days. … Read more
Telefonica, one of the world’s largest telecom companies, has partnered with Chainlink, a decentralized oracle provider, to improve security in Web3 environments. Through the use of Chainlink functions and Telefonica’s SIM Swap API implementation, Polygon apps would be able to check if the SIM of a mobile phone has changed in a given period. Telefonica … Read more
The Aptos Foundation has revealed its collaboration with Jambo, a creator of blockchain-enabled smartphones, to bolster emerging markets through Web3 innovation. The pair state that their alliance seeks to improve Web3 access and knowledge in areas that would benefit greatly, by utilizing the layer one (L1) blockchain technology of Aptos in tandem with Jambo’s dedication … Read more
In a recent analysis conducted by DWF Ventures, a comprehensive overview of the Liquid Restaking (LRT) protocol sheds light on its significant impact within the Ethereum restaking ecosystem. The surge in the Ethereum restaking landscape has fueled the growth of Liquid Restaking (LRTs), enabling users to earn yield while optimizing capital efficiency. This innovative approach … Read more
Tron, the cryptocurrency known for its dynamic price movements, has recently witnessed a significant surge, leading to a remarkable scenario where almost all of its holders find themselves in profit. Reports indicate that an impressive 99% of Tron addresses, totaling 115.9 million, are currently enjoying substantial profits, with only a minuscule 1.17 million addresses breaking … Read more