Binance has activated the price of 8 altcoin projects with a series of announcements today. Other news include Visa partnership and NFT launches.
Binance announced that it will support this altcoin project: Price made 30%
In the initial news, Binance said it will support its plan to rebrand Hifi Finance (HIFI) as Mainframe (MFT). The leading crypto exchange has announced that it will recover all Mainframe (MFT) balances to support the project’s roadmap. In this way, eligible investors will receive a Hifi Finance (HIFI) payment at the rate of 1 MFT = 0.01 HIFI.
After the announcement, the MFT price gained close to 30% within an hour. It has now returned most of this profit.
BitDAO rally
BitDAO has announced that it will purchase $100 million worth of BIT Tokens from the market starting next year, as part of the DAO’s capital allocation strategy. The plan is contained in a management proposal submitted to the DAO. This proposal requires BitDAO to set a target daily USDT purchase amount of $2 million for 50 days starting January 1 next year.
(1/3) [DISCUSSION] $BIT Purchase Program, Update Jan 2023
This soft proposal is a parameter update to BIP-9: $BIT Purchase Program and BIP-12.
âś… Set the Target Daily Purchase Amount (TDPA) at $2.0M USDT per day starting Jan 1, 2023 for 50 days (total $100M USDT)
— BitDAO (@BitDAO_Official) December 19, 2022
BitDAO (BIT) price gained around 3% after the announcement. It is currently trading in the $0.2892 zone. The impact of the news will be evident from January 1, when the purchase of $100 million BIT Tokens will begin.
IMX price up 10% after WAGMI NFT launch
IMX was the best performer among the top 100 cryptocurrencies by market cap today. The rally started after the WAGMI NFT launch, announced by the Immutable X team on Twitter. Collection includes 5,973 unique Comic Book NFTs designed for the Web3 gaming community
The @WagmiGameCo Comic Book NFT VOL. 1 is now LIVE #onIMX
A collection of 5,973 unique Comic Book NFTs designed for the web3 gaming community
Mint price: $89 USDhttps://t.co/GCIwcsbeEx pic.twitter.com/yeWX1pIUss
— Immutable đź…§ – $IMX (@Immutable) December 19, 2022
After the announcement, the price of ImmutableX (IMX) gained more than 10%. It is currently trading at $0.4509, holding around 5% of its last 24-hour gain.
Binance rival OKX announces listing BNB in ​​spot trades
cryptocoin.com Cryptocurrency exchange OKX is listing Binance’s BNB token for spot transactions. The exchange made the announcement today on its official website. According to the statements, BNB transactions will start according to the following schedule:
- BNB deposits open on December 20
- BNB/USDT, BNB/USDC Spot trading opens on December 21
- BNB withdrawals open on December 22
At the time of the announcement, the BNB price gained around 5%:
Visa made a critical statement about this altcoin
Ethereum-based L2 Blockchain StarkNet received new news from payment giant Visa today. The company said that personal custodian wallets can use a unique “account abstraction” method to set up automatic recurring payments on StarkNet, as existing smart contracts currently do not support such steps.
Payment processor Visa(V) has recently proposed a solution known as “account abstraction” that uses smart contracts that can be used to enable automatic programmable payments on Ethereum, according to a crypto thought leadership post. Visa says such a move would allow recurring payments to be made entirely over blockchain networks, which currently lack such capability. The company has proposed deploying the solution on the Ethereum layer 2 network StarkNet.
Waves founder unveils new stablecoin plans
Waves founder Sasha Ivanov announced on December 20 that it will launch a new stablecoin with USDN shortening in response to inquiries from Twitter. At the time of the announcement, Waves price was in the green around 2%.
Two things:
– I will launch a new stable coin
– There's gonna be a $USDN situation resolution plan set in motion before.— Sasha.waves (@sasha35625) December 20, 2022
Cardano (ADA) team shared details of new projects
Some major improvements to the Cardano ecosystem were announced by the developers on December 20. Innovations include both the blockchain itself and the decentralized applications built on it. Founder Charles Hoskinson shared the details of the first development CIP-1694 on Twitter:
Glad to see the community experience this. I encourage everyone at Cardano to do CIP readings and share your opinions, both positive and negative.
Glad to see the community going through this. I'd encourage everyone in cardano to do readings of the CIP and share your opinions both pro and con https://t.co/rvJ8eXTld1
— Charles Hoskinson (@IOHK_Charles) December 19, 2022
Another major innovation was the development of a price index for Cardano native tokens by the dcSpark team. The idea is that the directory can be distributed locally and for free without the need for an API or third party. For reference, the number of native tokens on Cardano is currently over 7 million.
Polygon co-founder launches a new Web3 platform
Sandeep Nailwal, founder of Polygon, put together a team of founders from the entire Web3 ecosystem. The new platform Beacon officially launched from December 20. Beacon will provide mentoring and financing services. The Polygon co-founder shared that 15 startups have already received funding from Beacon.
