DeFI News by Thebittimes.Com

It has been 262 days days — over 37 weeks or more than 6,000 hours — since Solana last suffered a major outage. According to the network’s own incident history tracker, the last major outage occurred on February 6 this year and lasted five hours. No reason was given at the time, however, the tracker noted that the problem was apparently resolved after “a successful upgrade to v1.17.20 and a restart of the cluster by validator operators.” As a result of the disruption, Solana’s  SOL token fell 2% to $94 . Protos has compiled a chart detailing this and every other Solana outage since its launch. Click to enlarge. Read more: Solana mainnet down almost a year after last major outage The next most recent outage occurred almost a year earlier on February 25, 2023, and was put down to “cluster instability.” Before this, major issues struck the network on September 30, 2022, and June 1, 2022. Solana launched in 2020 but accor...

Shiba Inu embarked on a token-burning spree at the beginning of the year. The aim was simple: reduce the supply of $SHIB and increase its value. However, this didn’t cause as significant a price increase as expected, leaving some wondering if the entry of newer coins like Galaxy Fox is stealing its thunder. Galaxy Fox is making its mark with some analysts describing it as the best upcoming ICO because of its utility and potential for high returns. Is $GFOX taking the spotlight from $SHIB? Let’s break it down. SHIB token burn fails to inspire major price increase 2024 started with the crypto community buzzing with enthusiasm about Shiba Inu’s initiative to burn its tokens. The $SHIB team, in tandem with the community, engaged in burning sessions using fees from the Ethereum Layer 2 network Shibarium. However, recent data suggests that the fervour has dwindled. Recently, a mere two burn transactions were recorded by the Shibburn tracking website...

The Monetary Authority of Singapore (MAS), in collaboration with leading financial institutions like JPMorgan, DBS, and BNY Mellon, has embarked on a project to explore the potential of asset tokenization, a move that could significantly impact the future of financial transactions and asset management. The Monetary Authority of Singapore (MAS), has embarked on a noteworthy venture to explore the realm of asset tokenization. Collaborating with major financial players like JPMorgan, DBS and BNY Mellon, this initiative is part of the larger Project Guardian, a collaboration that includes international regulatory bodies such as Japan’s FSA, the UK’s FCA and Switzerland’s FINMA. This endeavor by MAS involves rigorous testing of various digital asset applications, including bilateral digital asset trades, foreign currency payments, multicurrency clearing and settlement, fund management and automated portfolio rebalancing. Notably, JPMorgan and Apollo have demonstrated a ...

The dollar index (DXY) found support at a key level, leading traders to question whether BTC will manage to flip $17,250 to support. On Dec. 2, the United States Dollar index (DXY), an index that measures the dollar's strength against a basket of top foreign currencies, reached 104.40 which was the lowest level seen in 5 months.  To recap, the U.S. dollar's weight against the basket of top foreign currencies grew by 19.6% in 2022 until late September as investors looked for protection against the impact of a hawkish Federal Reserve and, more recently, the rising energy costs and effect of high inflation. The U.S. dollar's retreat may have been an interim correction to neutralize its "overbought" condition, as the 114.60 peak was the highest level in 20 years. Still, its inverse correlation with Bitcoin (BTC) remains strong, as pointed out by analyst Thecryer on Twitter: $DXY $BTC pic.twitter.com/jG9HmYN8Mg — Thecryer (@HumpBackCrypto) December 2, 2022 Notice ...