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The Terra Classic Community Should Expect A DEX Soon

Mark Brennan
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The Terra Classic Community Should Expect A DEX Soon

TerraCVita member hints at the development of a Terra Classic DEX soon.

A member of the Terra Classic development group TerraCVita, RexYellerBelly, has hinted at the development of a decentralized exchange (DEX) soon on the Terra Classic network, hinting at this in a tweet yesterday.

“Thank you all for your replies, some great ideas, it seems a Dex, would be pretty popular,” the TerraCVita member wrote. “Let’s get IBC’s activated and see where LUNC goes.”

The statement comes after he had asked the community to suggest decentralized apps (DApps) that they would love to see on the chain. From the comments, a DEX appeared to be overwhelmingly popular.

As highlighted by RexYellerBelly, the Terra Classic chain is on the cusp of re-opening its Inter Blockchain Communication (IBC) channels. Consequently, the chain will once again be able to communicate and transfer tokens with other sovereign blockchains in the Cosmos ecosystem. However, the process has to go through a community vote first.

Notably, as reported by The Crypto Basic today, popular Cosmos developer Jacob Gadikian disclosed that the code to re-open the Terra Classic IBC channels is ready. Once developers finish testing and the community approves, validators will deploy the code re-opening the IBC channels.

It is worth noting that re-enabling IBC is a major step towards reintroducing utility to the chain and one of the major milestones toward achieving technological parity with Terra 2.0, allowing for a flurry of DApps development. The result will be a significant boost in on-chain volume, leading to greater burns due to the on-chain tax burn. Consequently, it brings the community one step closer to achieving its goals of revitalizing the chain and cutting down excess Terra Luna Classic (LUNC) supply.

Merchants Worldwide Can Now Accept Polygon (MATIC) Payments

Albert Brown
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Merchants Worldwide Can Now Accept Polygon (MATIC) Payments

BitPay Introduces Support for Polygon (MATIC) Payments.



Merchants can now accept MATIC payments from customers using the BitPay gateway.

BitPay remains one of the most dominant Bitcoin and cryptocurrency payment processors. Over the years, the payment solution expanded its cryptocurrency offering, giving customers and merchants a wide array of digital asset options.

Amidst its expansion moves, BitPay has recently introduced support for Polygon (MATIC) and other ERC-20 tokens hosted on the Polygon network. Polygon disclosed the exciting development in an official blog post on Wednesday.

Per the announcement, the support for MATIC will begin this week. Accordingly, customers will get the opportunity to make MATIC payments to merchants leveraging BitPay’s payment processing solution when the support materializes. 

Additionally, BitPay users will also be able to make in-app transactions like swapping, buying, selling, spending, and storing in MATIC and other ERC-20 assets hosted on the Polygon network, including Binance USD (BUSD), USD Circle (USDC), Dai (DAI), and Wrapped BTC (WBTC).

This integration of MATIC payments is likely to bring greater exposure to the Polygon network’s native token and, by extension, the Polygon blockchain itself, as users will get an opportunity to make payments with the token on several BitPay merchants.

Information from the official blog post suggests that the Texas-based collectibles marketplace Panini America is one of the first merchants to support MATIC payments through BitPay officially.

Polygon prides itself in its promise of low fees and higher throughput as it looks to assist the Ethereum blockchain with its scalability challenges. Due to its consistency in delivering on its promise and the massive adoption rate, this BitPay integration has been long overdue.

“Working with BitPay opens up a new world of commerce to MATIC holders, allowing them to spend with a host of global merchants, including Airbnb and Shopify, for the first time,” Sandeep Nailwal, co-founder of Polygon, noted. He further highlighted the significance of the development.

Polygon has already positioned itself as one of the most sought-after blockchain solutions for institutions. Two weeks back, The Crypto Basic highlighted the blockchain solution’s increasing dominance in the cryptocurrency space, as top companies, including but not limited to Disney, Starbucks, Adobe and DraftKings have chosen the network as their preferred blockchain partner in the past months.

Terra (LUNA) Becomes Most Searched Crypto In 14 American States

Mark Brennan
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Terra (LUNA) Becomes Most Searched Crypto In 14 American States

Terra’s popularity surges in the United States.



Data Shows 14 US States Are Interested in Terra (LUNA), While Shiba Inu Is the Most Searched Crypto in New Hampshire.

Since the cryptocurrency market collapsed in April, many people are seeking to take advantage of the price crash and invest in selected cryptocurrencies in anticipation of a bull market.  Despite the fall of the Terra ecosystem, Google Trend data show that many Americans are still interested in the project.

According to Google data compiled by Fintech Times, Terra (LUNA) is the second most popular cryptocurrency in the United States after Bitcoin.

Per the data, over 14 states in the United States conducted online searches for Terra more than any other cryptocurrency. The 14 states that searched for Terra Luna include Alabama, Arkansas, California, Colorado, Georgia, Illinois, Massachusetts, Nevada, New Jersey, New York, North Carolina, Pennsylvania, Tennessee, and Washington. 

“This study offers insight into where American crypto investors are thinking of investing most, with Bitcoin taking the lead but Terra Luna being watched closely as it plans to make a comeback,” the report noted.

Why Are Americans Interested in Terra? 

It will not come as a shock to many to see a growing interest in Terra among investors. Since the collapse of the Terra ecosystem, the team behind the project and investors have been looking for ways to revive the project.

While TerraForm Labs plans on compensating investors through Terra 2.0 initiatives, the community chose to stick with the classic tokens – LUNC and USTC.

The Terra Classic community has made lots of progress to revive the value of LUNC. The major step to make this a reality is to burn a portion of LUNC’s total supply. So far, the community is making significant progress in that regard. 

According to data published by LUNC Burn, an unofficial account that tracks all LUNC burns, 24.14 billion Terra Classic have been incinerated. 

The continuous burn efforts have continued to draw the attention of Americans to Terra.

Other Cryptos

Terra is not the only crypto Americans are interested in. USA Residents are also interested in Bitcoin, Ethereum, Shiba Inu, etc.

Bitcoin led with 15 states googling it most. Ethereum got six states searching it most, Dogecoin 6, Pancat 2, and Tether 2, While Shiba Inu, Cardano, and Ripple were most searched in only one state each, respectively.

“Most popular Cryptocurrency by State since April 2022
State Most Googled Cryptocurrency 
Alabama Terra Luna
Alaska Bitcoin
Arizona Pancat
Arkansas Terra Luna
California Terra Luna
Colorado Terra Luna
Connecticut Ethereum
Delaware Gemini
Florida Pancat
Georgia Terra Luna
Hawaii Bitcoin
Idaho Dogecoin
Illinois Terra Luna
Indiana Ethereum
Iowa Bitcoin
Kansas Bitcoin
Kentucky Dogecoin
Louisiana Bitcoin
Maine Bitcoin
Maryland Tether
Massachusetts Terra Luna
Michigan Algorand
Minnesota Cardano
Mississippi Ethereum
Missouri Ethereum
Montana Bitcoin
Nebraska Dogecoin
Nevada Terra Luna
New Hampshire Shiba Inu
New Jersey Terra Luna
New Mexico Bitcoin
New York Terra Luna
North Carolina Terra Luna
North Dakota Bitcoin
Ohio Ripple
Oklahoma Bitcoin
Oregon Dogecoin
Pennsylvania Terra Luna
Rhode Island Ethereum
South Carolina Dogecoin
South Dakota Bitcoin
Tennessee Terra Luna
Texas Tether
Utah Bitcoin
Vermont Bitcoin
Virginia Ethereum
Washington Terra Luna
West Virginia Bitcoin
Wisconsin Dogecoin
Wyoming Bitcoin”

Data Source: https://thefintechtimes.com/terra-luna-has-more-searches-in-more-states-than-ethereum-as-top-crypto-for-each-state-revealed/

Fireblocks New Crypto Payments Engine Supports Shiba Inu

Zabi
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Fireblocks New Crypto Payments Engine Supports Shiba Inu

Fireblocks Ventures Cryptocurrency Payments Engine.


Millions of merchants worldwide can now accept Shiba Inu (SHIB) and Bone ShibaSwap (BONE) as payment using Fireblocks Crypto Payments Engine.

Following a successful pilot test with its early partner Checkout.com that settled $1 billion in transactions to date, Fireblocks, the multi-billion dollar crypto infrastructure services provider, recently launched a crypto payments engine in partnership with FIS’s WorldPay, one of the biggest payment processing companies in the world.

The Fireblocks crypto payments engine comes with a new suite of tools that will enable millions of merchants across the globe to accept, manage and settle digital asset transactions.

With its fiat-to-crypto and fiat-to-fiat cross-border transfer solution merchant settlements, it allows Payment service providers (PSPs) to settle finances across multiple currencies easily; it enables PSPs to offer payouts to marketplace participants and allows PSPs to help their merchants to receive crypto as payment.

Upon investigation, we found that the Fireblocks also enable merchants to integrate Shiba Inu (SHIB) and Bone ShibaSwap (BONE) into their operations and process them faster, with lower fees and greater transparency.

Fireblocks New Crypto Payments Engine Supports BONE and SHIB
Fireblocks New Crypto Payments Engine Supports BONE and SHIB

Besides Shiba Inu and Bone ShibaSwap, Fireblocks’ recently released payment engine currently supports over 1300 tokens.

Whale Selling May Make It Difficult For Bitcoin To Hold Above $20k

Mark Brennan
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Whale Selling May Make It Difficult For Bitcoin To Hold Above $20k

Whale selling appears to push Bitcoin’s price down following a price surge yesterday.


In a CryptoQuant Quicktake shared today, CryptoQuant analyst Achraf Elghemri discloses that the high flow of whales to the market after a rise in the price of Bitcoin has often coincided with Bitcoin price drops.

Notably, Crypto Vinco, in a tweet yesterday, asserts that whales are selling again. According to Vinco, citing Glassnode data, in the past week, holders of Bitcoin for over one year sold over 50k BTC, holders for over two years sold 40k BTC, and holders for over three years sold 30k BTC.

It bears mentioning that yesterday, Bitcoin surged to reclaim the $20k price point after trading below for over two weeks. The asset’s price surged as high as the $20,400 price point but now appears to be retracing, which may indicate whale selling.

Despite the recent retracement, il Chapo Crypto, who predicted the latest price rally, still believes that the asset will make it to $21k in this latest upswing, asserting that the retracement is good. However, the analyst has also cautioned traders and investors not to get too bullish after Bitcoin clinches the price target or surpasses the price. Notably, il Chapo Crypto expects the price to find resistance at that level, which will cause it to trade lower and eventually bottom out at the $14k price point sometime in November.

Notably, this aligns with a recent analysis by CryptoQuant analyst Onchain Edge, who concedes that there is some potential for Bitcoin to plummet to the $15k price point in November. This is close to the delta price of about $14,478. The Delta price is where Bitcoin bottomed out in the 2015 and 2018 bear cycles.

Meanwhile, veteran analyst Peter Brandt places the price bottom at $13k.

Crypto analyst Michaël van de Poppe has attributed the latest rally to falling yields and signs of weakness in the US dollar index (DXY). The Eight founder asserts it is time for significant relief across the crypto markets.

Coinglass data shows that crypto liquidations have surpassed $820 million in the last 24 hours as traders are being taken out of their short positions by the recent pump.

Bitcoin is trading at the $20,289.08 price point, up 5.23% in the last 24 hours.

New Whale Buys 119B Shiba Inu, As Shib Breaks Critical Resistance

Zabi
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New Whale Buys 119B Shiba Inu, As Shib Breaks Critical Resistance

New Whales Coming For Shiba Inu.



Shiba Inu (SHIB) keeps on giving birth to new wallets. The nascent whale has just splurged $1.24 Million to purchase a considerable amount of SHIB.

Etherscan.io recently reported that an anonymous whale has just come into existence and scooped up a whopping 119,384,114,306 (119.38B) SHIB, worth $1,243,982 ($1.24M) in her first-ever transaction executed about 10 hours ago.

Nascent Shiba Inu Whale Scooped Up 119.38 Billion SHIB
Nascent Shiba Inu Whale Scooped Up 119.38 Billion SHIB

Shiba Inu has given birth to the second Whale in a week. As reported by TheCryptoBasic on OCT 24th, a newly born whale accumulated a 3,363,854,488,205 (3.36T) SHIB, worth $33,672,183 ($33.67M) in one transaction.

The Whales’ interest in the world’s second-biggest canine-themed cryptocurrency renewed after Luxembourg-based world’s leading cryptocurrency exchange, Bitstamp, enabled United States users to trade Shiba Inu with two trading pairs, SHIB/USD and SHIB/EUR.

Moreover, the massive Whale accumulation helped Shiba Inu pierce the critical resistance level at $0.00001020 on the 4-hour chart. Since October 18th, Shiba Inu has been trading below that level.

Breakout of Critical Resistance Level on H4 Chart
Breakout of Critical Resistance Level on H4 Chart

At press time, Shiba Inu is trading at $0.00001042, up 4.19% over the last day, with a 24-hour trading volume of $267,762,311 ($267.76M).

Dogechain All Set To Burn 80% Of DC Total Supply

Lele Jima
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Dogechain All Set To Burn 80% Of DC Total Supply

Dogechain community members support a proposal to burn 80% of the token’s total supply.



An ongoing proposal to burn 80% of Dogechain’s (DC) total supply has reached its threshold, the team behind the project noted in an announcement. The proposal to burn 80% of the token’s total supply was created on October 23, 2022, at 3 AM (UTC).

So far, most participants in the exercise largely opted in favor of the burn initiative. 99.98% of the total votes, representing 562,228,659 DC, voted to support the proposals to burn 80% of the total supply.

Although the voting has reached its threshold, the Dogechain team still asked the community to continue voting until October 28, 2022, when the exercise is expected to end.

“The more, the merrier! Continue voting at http://dogegress.dog until 3 AM UTC on Oct 28th to strengthen the vote!” Dogechain said. 

According to information on the Dogechain governance platform, the proposal seeks to reduce the total supply of DC by 80% throughout all allocations. Furthermore, the proposal also seeks feedback on whether the vesting period of the remaining early shibes airdrop should be reduced from 46 to 6 months. So far, the majority of the votes are in favor of both proposals. The Dogechain team is expected to decide on the next step once voting ends.

DC Holders Push to Revive Token’s Value

Unsurprisingly, most Dogechain holders support the incineration of 80% of the token’s total supply. Reducing such a massive supply will, without a doubt, push the token prices to new highs.

Community members are eager as they believe burning a large percentage of the total supply will help bolster DC’s value again.

Meanwhile, Dogechain has recorded major wins in the past few weeks. The network’s daily transactions have continued to gain momentum, with 55M On-Chain Transactions, almost 1M transactions per day, and 250K Unique Wallets. Meanwhile, major exchanges have also listed the token for trading. As reported by The Crypto Basic, DC is Up 300% In 7 Days.

Cardano IOG Releases Warning About A Fake Daedalus Wallet

Mark Brennan
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Cardano IOG Releases Warning About A Fake Daedalus Wallet

IOG warns users about a fake Daedalus wallet making the rounds.


In a tweet on Tuesday, Input Output Global (IOG), the development group behind the Cardano network, warned users of a fraudulent Daedalus wallet making the rounds.

Notably, Tim Harrison, the Vice President of Community and Ecosystems, reiterated the warning highlighting that the team was working to take down the fraudulent website.

“There’s a fake Daedalus wallet .org site out there – our security team is working on getting it taken down but meanwhile please beware,” Harrison wrote.

It is worth noting that the warning comes less than two weeks after IOG rolled out an upgrade for the wallet. Notably, IOG had warned users to download only from the prompt in the Daedalus news feed while warning new users to download only through the official site daedaluswallet.io.

It bears mentioning that Daedalus is a full-node desktop-only wallet. As such mobile wallets claiming to be Daedalus wallets are most likely fraudulent.

As highlighted above, Daedalus less than two weeks ago received an upgrade to version 5.1.0. Notably, the upgrade brought improvements to hardware wallet integration, amongst other fixes, with optional anonymous data collection to inform IOG’s decisions on new features and bug fixes.

It is worth noting that IOG’s chief Charles Hoskinson envisions a future where there are no official IOG wallets. Instead, Hoskinson hopes the network can create wallet standards to guide wallet builders in the community and create a system of wallet certification.

Security remains critical to the sustainability of the emerging crypto market as it remains plagued by scams, rug pulls, and hacks. According to Chainalysis data, DeFi hacks are set to reach new highs in 2022, as hackers have already stolen at least $3 billion.

No data indicates if users have lost their ADA using the fraudulent Daedalus wallet.

Ripple Open Applications For Third Wave For Its $250 Million NFT Creator Fund

Mark Brennan
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Ripple Open Applications For Third Wave For Its $250 Million NFT Creator Fund

Ripple is not planning to back down in its quest to support NFT creators building on XRP Ledger.


Days after signing the second wave of recipients to receive its $250 million Creator Fund, Ripple has announced that it has opened applications for Wave 3 of the program. 

“Wave 3 of our $250 million Creator Fund is now open!” Ripple said. 

According to the announcement, Ripple said the third segment of the program would focus on creators building both physical and digital non-fungible tokens (NFTs). However, the blockchain company also urged creators in other use cases to participate in the ongoing exercise.

Interested participants are urged to submit their applications for review by members of the Ripple team. The deadline for submission is December 30, 2022, Ripple said in a statement.

Ripple $250 Million Creator Fund 

The $250 million Creator Fund is an initiative established by Ripple to enable non-technical creators to bring their ideas to life on the XRP Ledger (XRPL). Technical creators seeking funding are urged to apply for XRPL Grants. 

Several creators have benefitted from the Creator Fund in two different waves. As reported by TheCryptoBasic, five creators were chosen in the first wave of the Creator Fund. Some beneficiaries included contemporary artist Jessica Ragz, Netflix documentary star Zion Clark, PancakeSwap designer Chef Cecy, etc. Earlier this month, Ripple also unveiled seven second-wave recipients. Some of the big names were Anifie, Thinking Crypto and  SYFR Projects.

Famous Cosmos Developer Reveals Code To Re-Open IBC On Terra Classic Is Ready

Mark Brennan
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Famous Cosmos Developer Reveals Code To Re-Open IBC On Terra Classic Is Ready

The Terra Classic Chain is one step closer to full Cosmos interoperability.



After months of hard work, in a tweet Tuesday, renowned Cosmos developer Jacob Gadikian disclosed that the code to re-open Inter Blockchain on the Terra Classic network is ready.

“So, as it has been for the past few months, the needed code to re-open IBC is here,” Gadikian wrote.

What IBC Is And Why It Is Important 

It bears mentioning that the IBC protocol enables interaction and transfer of value across independent Cosmos chains. For example, as a Cosmos chain, the Terra Classic network originally used IBC but had the channels permanently closed during the ecosystem collapse in May to prevent impermanent losses.

However, as the network now charts a path to recovery, re-enabling IBC has become necessary to access trapped liquidity and improve the chain’s utility. To this end, the Terra Rebels, an independent group of volunteers working on the Terra Classic chain, got in touch with Gadikian, as disclosed by core developer Edward Kim in September. Notably,  Gadikian not only offered to help them with the uphill task of re-enabling IBC after it was permanently closed but also offered to clean up the chain.

According to Kim, this support has remarkably sped up the timeline for the Classic chain to achieve technological parity with Terra 2.0, which will drastically boost the number of projects on the chain.

As highlighted by Venus, a member of the Terra Rebels and the core team project manager, in a blog post, if IBC is re-opened, projects on Cosmos chains could decide to integrate Terra Luna Classic (LUNC) as a payment option to attract its active community. Consequently, this increases LUNC’s utility and on-chain transaction volume, which will increase the burn rate and boost the network’s treasury as 10% of the burning tax goes to the community pool.

The Community Response

Unsurprisingly, the news that the code is ready has attracted a flurry of positive responses from the community. 

Max Callisto, one of the CEOs of the popular LUNC validator LUNC DAO and the first to author a proposal requesting the re-opening of IBC on the chain, took time to highlight the possible utility it brings.

While the code is still in testing, Gadikian has requested a signal vote from the community to know that the community supports the re-enabling of IBC. As such, the Terra Rebels will make a governance proposal open for voting in the coming days. Should the proposal pass, validators can implement the new code, effectively opening IBC on the chain once testing is complete.

It bears mentioning that, as previously reported by The Crypto Basic, the chain may only achieve full Cosmos interoperability once it receives a CosWasm upgrade which will come with the v23 Terra Classic upgrade. Notably, this upgrade is scheduled for December.

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