Today, 7 altcoin projects, including popular cryptos such as JASMY and XRP; partnership, token burning, integration etc. buoyed by the news. Here are the prominent altcoin news of February 7…
This altcoin gained double digits after revealing its roadmap
JASMY, the token of Japanese start-up Jasmy Corporation, has gained 8% today and is up more than 14% at one point. Behind the rally is the 2023 roadmap of the recently announced project. Among other goals, the company’s current plans have noted the development of its own AI engine in the first half of 2023.
JASMY is currently trading in the green 8% over the last 24 hours. It climbed above $0.007200 at the time of writing.
Aave integrates Chainlink’s proof of reserve into Avalanche
BGD Labs, a development firm focused on the Aave ecosystem, announced a new integration for monitoring the status of liquidity pools on the Avalanche-based Aave platform, which includes wrapped tokens such as AAVE.e, DAI.e, LINK.e.
Now Chainlink’s Proof of Reserve feature is also available in Avalanche version of Aave. The integration provides transparency for monitoring the financial status of liquidity pools on the Aave platform. “We are pleased to support the Aave Protocol and its community by integrating Chainlink Proof of Reserve,” said Ernesto Boado, Co-Founder of BGD Labs.
.@bgdlabs has integrated #Chainlink PoR into @AaveAave to help ensure wrapped tokens in Aave markets on #Avalanche are sufficiently collateralized.
See how PoR helps mitigate risks associated with cross-chain bridges through trust-minimized verification.https://t.co/1N4g0VBGZ2
— Chainlink (@chainlink) February 7, 2023
Fuse Network launches Web3 payment network to support altcoin acceptance
Aiming at mainstream adoption of Web3 payments, Fuse has released Fuse 2.0, which supports its efforts in this area. Fuse 2.0 provides mobile-compatible technologies to securely open new Software as a Service (SaaS) business models on the Web3.
Fuse Network (FUSE) rose slightly with the release of the new version. It later hit $0.09187 before it could correct around 2%.
This altcoin project will burn millions of FTX Tokens
DebtDAO will burn 18 million “FTX user debt tokens” following its recently launched and overbought new token. FTX User Debt (FUD) rose as high as $113 earlier this week and dropped to $65 on the Huobi crypto exchange on Tuesday morning. The data shows that it started trading at just $0.50 on Feb.
There is no relationship between the Tron-based FUD token and the bankrupt FTX exchange. DebtDAO stated that once FTX confirms the actual debt, it will print more tokens and distribute additional tokens via airdrops to FUD holders who will be entitled to exercise their rights over the debt for the first time. The latest price situation of the FUD token after the rally is as follows:
Lido’s stake Ethereum exceeds 5 million, Frax Ethereum on the rise
Liquid staking protocol Lido reports that its staked Ethereum on Beacon Chain has reached 5.05 million ($8.32 billion). On February 6, Lido said that staking deposits have increased on all chains except Kusama, which has been declining for the past two weeks. According to data aggregator DeFillama, the total value of assets locked in Lido (TVL) has increased by 5.5% in the last seven days to $8.48 billion.
According to the data, LDO is up 18% in the last 24 hours to $2.45, currently trading at $2.58 with some correction.
Frax Share (FXS)
Meanwhile, it shows that the ecosystem’s native token, Frax Share (FXS), is benefiting from the increased interest. FXS is up roughly 30% in the last 24 hours to $13.06 and is up 120% in the last 30 days.
Altcoin whales carry massive XRP
According to data provided by WhaleAlert, over 540 million XRP (worth approximately $216 million) has been moved in the last 24 hours. The largest transaction recorded by the tracker was the transfer, which moved 205 million XRP (worth about $81.7 million) to an anonymous wallet.
However, several whales took advantage of the recent price drop to add more XRP to their wallets. The data shows that more than 76 million (worth about $30 million) were added in multiple transactions. XRP currently continues its sideways movements as there is no selling.
Ordinals Protocol sparks a resurgence in Bitcoin development
Research firm FSInsight said in a report Friday that the Ordinals protocol has triggered a resurgence of interest in Bitcoin (BTC) development, leading to an increase in the average block size as more users join the network. The report states that as the cryptocurrency “goes up as money on the adoption curve,” NFTs can be a good source of demand for blockchain space, and the possibility that these tokens will fuel Bitcoin’s next bull run cannot be ruled out.
cryptocoin.comAs you follow, SingularityNET (AGIX) is one of the altcoins that has risen with important partnership news in recent days.
