DeFI News by Thebittimes.Com

The Dogecoin price surged 26% in the last 24 hours to trade at $0.2045 as of 02:37 a.m. EST on trading volume that skyrocketed 227% to $10.3 billion. This comes as Donald Trump is set to become president for the second time after defeating Kamala Harris in the US election. Trump has promised to be ”crypto president” and Dogecoin may be a big winner if Trump appoints DOGE fan Elon Musk to head a Department of Government Efficiency (DOGE) in his administration. Dogecoin Price Could Continue Soaring According to the DOGE/USD chart Analysis , the Dogecoin price is currently capitalizing on the cup and handle pattern, formed as DOGE found support within the $0.096 support, according to data from GeckoTerminal . The uptrend has pushed the price of Dogecoin to now trade above both the 50-day and 200-day Simple Moving Averages (SMAs), which is an indication that the price may continue soaring. Moreover, the 50-day SMA has now surpassed the 200-day SMA, which has now formed a go...

Digital assets saw a new weekly record as inflows hit $2.9 billion last week. Bitcoin recorded inflows of $2.86 billion, while Ethereum, Solana and Polygong saw minor outflows. CoinShares shared the details in its Digital Asset Fund Flows report published on Monday, March 18. The crypto investment space saw a record $2.9 billion in inflows last week, digital assets manager CoinShares says. Per the report, the figure beat the previous week’s $2.7 billion, with this a seventh consecutive week that crypto investment products are seeing inflows. “ This week’s in flows have pushed year-to-date in flows to US$13.2bn, smashing the full 2021 in flows of US$10.6bn ,” CoinShare’s global head of research James Butterfill noted in the Digital Asset Fund Flows report published on Monday, March 18. Bitcoin saw inflows of $2.86 billion In a week where Bitcoin price shot to a new all-time high above $73k before flipping negative to test lo...

Floki has announced the 190 billion FLOKI token burn has been executed. The tokens were worth over $47 million following FLOKI’s 600% price surge in the past two weeks. FLOKI has announced that the scheduled 190 billion FLOKI token burn has successfully executed. As revealed recently, the Floki DAO approval for the burn saw the project outline that the planned incineration was to take place this week. On March 9, 2024, the team announced that 190.91 billion FLOKI, accounting for 2% of FLOKI’s circulating supply, had permanently been removed. “In line with the decision of the #Floki DAO, 190,918,585,431.84 $FLOKI token s have been successfully burnt across the ETH and BNB chains,” the Floki Inu team posted on X. FLOKI price up 600% in 2 weeks According to the details, the total value of the burnt token s was over $47 million. Initially, the 190 billion FLOKI had a value of $11 million. However, FLOKI price has more than doubled in ...

While many cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) have been carefully testing new resistance levels throughout the current market rally, Solana (SOL) has been on a remarkable, almost unbroken, upward trend. In the last 24 hours alone, the token added $4 billion to its market cap, going from approximately $22 billion to $26.5 billion in a massive surge, as per data retrieved by Finbold from Coinmarketcap on November 15. Its price followed suit and rose by 20.69% in a day – up to $63.34. SOL 1-day market cap chart. Source: Counmarketcap Zooming out, SOL has been surging throughout the previous month, rising nearly 190% percent since mid-October. It has also been growing steadily in the past week, having risen 46,31% from the price of $43 it held last Wednesday. SOL 7-day price chart. Source: Finbold Indeed, the cryptocurrency has advanced to the sixth position in terms of market cap through the current rally and has, so far, successfully shrugged off downwa...

Web3 brings the next evolutionary stage of social media, promising a decentralized approach to overcome challenges related to privacy, ownership, and equitable monetization. The next iteration of the internet, Web3, is proposing a new infrastructure based on blockchain technology to build a democratic global social media ecosystem that caters to all stakeholders. Web3 adepts hope that the widespread adoption of blockchain technology will solve some of the major challenges that have plagued social media, including monopoly, privacy issues, poor monetization practices for creators, fake news, and the overall lack of control for users. While there are already great Web3 social media alternatives, they still have some pain points to address in order to ensure mass adoption of de centralized platform s. Web3 social media challenges The integration of Web3 systems into social media has a promising future, but there are several challenges that need to be addressed first. Here are a few of...

A joint  report  released on July 29 by Ripple and the US Faster Payments Council shows that blockchain technology could save financial institutions roughly $10 billion in cross-border payment expenses by 2030.  A survey of 300 finance professionals from 45 countries, including those in fintech, banking, media, consumer technology, and retail, revealed that blockchain technology would play a significant role in speeding up payment systems, reducing cross-border payment costs, and enhancing their velocity within the next three years, as reported by the professionals surveyed. Results show that global payments leaders are dissatisfied with legacy rails for cross-border payments. Learn why 97% believe # blockchain and #crypto will transform the way money moves in our latest whitepaper with @Faster_Payments. https://t.co/qacuAAzZrR pic.twitter.com/ForjM05Wbb — Ripple (@Ripple) July 28, 2023 Meanwhile, a recent report from Juniper Research confirms that banks choosing to in...