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Cardano Single Transaction Transfers 16,164 ADA to 217 Addresses

Lele Jima
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Cardano Single Transaction Transfers 16,164 ADA to 217 Addresses

Cardano’s extended Unspent Transaction Output model (eUTXO) was recently called into action.


According to a recent development, an anonymous user transferred over 16,000 Cardano (ADA) coins to multiple addresses in one transaction. The user took advantage of the eUTXO model to send the coins.

Per transaction data, 16,164 ADA ($6,961) were transferred to 217 Cardano addresses in one transaction. Interestingly, the user paid a paltry amount of 0.78173 ADA worth $0.33 as a fee for the transaction.

While transactions of this sort usually take place on the Cardano network daily, the latest transaction seemed remarkable, given the number of recipients involved.

Reacting to the development, Charles Hoskinson, the founder of Cardano, said:

“Tell me again how eUTXO can’t scale and we only do one transaction per second (TPS).”

The extended Unspent Transaction Output model is a feature based on Bitcoin’s UTXO model. Users of the feature are required to add a datum to the transaction. This datum is dubbed contract-specific information, which gives directives on how the transaction will be executed.

The eUTXO model makes the Cardano network more robust, allowing all addresses involved to interact with each other. However, there is a drawback to eUTXO as the feature cannot be used to send multiple transactions from one address within a single block.

It is worth noting that Cardano is known to be ahead of most of its peers in terms of development and upgrade. Despite the network’s success over the years, the team is constantly developing more useful features capable of meeting users’ demands in the future.

As reported, the Cardano team launched the Vasil hard fork late last month to provide an overall enhancement to various aspects of the network, especially smart contract capabilities.

Cake DeFi Adds Ethereum Staking Service With 5% Returns Via Singapore-Based Nodes That Allows Unstaking Anytime

Andrew MacGill
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Cake DeFi Adds Ethereum Staking Service With 5% Returns Via Singapore-Based Nodes That Allows Unstaking Anytime

Cake DeFi, the leading, fastest-growing Singapore-based fintech firm providing easy access to Decentralised Finance (DeFi), has launched its latest feature – Ethereum (ETH) Staking – with the added access to liquidity via a tradable token which can be sold in the open market.

With the recent Ethereum Merge that concluded in September, Ethereum has transitioned from a proof-of-work to a proof-of-stake system. As a result, the “Beacon Chain” was merged into the Ethereum main chain, which requires nodes, or validators, to stake their cryptocurrency into a long-term deposit contract. Retail investors can lock ETH up on the blockchain to earn the opportunity to validate transactions and yield more ETH as a reward. However, unstaking is currently not supported by the Ethereum network and investors will have to wait for the Shanghai upgrade to unstake their ETH, which could be a year or so later.

“ETH Staking is the latest addition to our popular Staking service. We made a deliberate decision to host our own nodes in Singapore. At the moment, Ethereum nodes are mostly concentrated in North America and Europe.  Hosting our own Singapore-based nodes will boost the confidence of investors and developers in the region and support the spirit of decentralization. Many exchanges and platforms are not offering ETH unstaking until the Shanghai upgrade but it was important for us to provide liquidity to our ETH stakers which will be achieved via an open market,” said Dr. Julian Hosp, Co-Founder and CEO of Cake DeFi.

Cake DeFi’s ETH Staking will allow users to enjoy around 5% annual percentage yields in returns. Returns in Cake DeFi’s ETH staking will also be auto-compounded every 12 hours to generate significantly more returns compared to non-compounding ETH staking.

Users of Cake DeFi’s ETH staking will also soon be able to unstake via a token tradable on the open market without having to wait for the Shanghai upgrade.

About Cake DeFi

Cake DeFi is a fully transparent, highly innovative fintech platform dedicated to providing access  to decentralized financial services and applications by enabling users to generate returns from their crypto and digital assets. It is operated and registered in Singapore and subject to applicable laws and regulations in Singapore.

By enabling and empowering its users to harness the potential of DeFi, Cake DeFi aims to educate and inform people around the world on crypto and DeFi in a simple, easy to understand and hassle-free manner.

Cake DeFi has achieved tremendous growth and has seen its strongest quarter yet in Q2 2022 when it comes to customer growth, funded accounts and payouts, as per its latest Q2 2022 Transparency Report. It has recently crossed the 1 million customer mark and has paid out a total of US$375 million in customer rewards as of the end of Q2 2022 despite the grim market outlook.

Cake DeFi achieved these milestones by creating a safe and secure one-stop platform for consumers to easily access DeFi services such as staking, lending, borrowing, and liquidity mining.

For media queries, please contact:

Leticia Chua 

media@cakedefi.com 

Shiba Inu Game Becomes #1 Card Game on App Store, While Android Downloads Cross 10K

Zabi
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Shiba Inu Game Becomes #1 Card Game on App Store, While Android Downloads Cross 10K

Shiba Inu Collectible Card Game Dubbed “Shiba Eternity” Becomes #1 Card Game on iOS After The Few Hours of Launch.


Shiba Eternity outperformed many famous card games, including UNO, Card Thrower 3D, and Monopoly Solitaire, to become the #1 card game in most countries. Moreover, Shiba Eternity also achieved over 10K downloads on Android devices within a few hours of launch.

Download Day for the much-awaited Shiba Inu Collectible Card Game dubbed “Shiba Eternity” is in full swing. As reported by The Crypto Basic, On October 6th, the much-awaited Shiba Inu Collectible Card Game dubbed “Shiba Eternity” was released on Android & iOS App Stores worldwide.

Shiba Inu Community is excited over the launch and is enthusiastically smashing the App and Play Stores while celebrating the official “Download Day” for Shiba Eternity.

The official Shibburn account confirmed that Shiba Eternity is in first place in the Apple store.

One of the pseudonymous Shiba Inu developers, Kaal Dhairya, celebrated the victory over other famous card games, including UNO, Card Thrower 3D, and Monopoly Solitaire, by saying:

“We are #1 in most of countries App and Play store, and going to put the likes of Marvel card game to shame @Marvel @marvelduel and uhm uhm @realUNOgame.”

Shiba Eternity is developed in partnership with one of the world’s leading Australia-based Gaming studios, PlaySide Studios, and Game Veteran William Volk.

The Shiba Inu Collectible Card Game was initially released for beta testing on Android and iOS in three countries Vietnam, Indonesia, and Australia. Following the beta launch, the Shiba Inu team increased its server capacity by 50% to cope with the demand. The Game also achieved 4.9 out of 5-star ratings on iOS App Stores at that time.

DeFiChain Introduces New dTokens Corresponding to Walmart, Unilever, US Oil Fund, and US Gas Fund

Andrew MacGill
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DeFiChain Introduces New dTokens Corresponding to Walmart, Unilever, US Oil Fund, and US Gas Fund

DeFiChain, the world’s leading blockchain on the Bitcoin network dedicated to bringing decentralized financial applications and services to everyone, has added four new decentralized tokens to its DEX. The newly added dTokens are: $dWMT (Walmart), $dUL (Unilever), $dUSO (US Oil Fund), and $dUNG (US Gas Fund).

It gives users price exposure to their favorite assets without geographical restrictions, a serious alternative to the traditional financial broker.

Users will now be able to mint and trade these decentralized assets to get price exposure to the stocks and ETFs without leaving the DeFi ecosystem. They can also buy dTokens – even in fractional pieces – on the DeFiChain DEX. DeFiChain already offers dTokens corresponding to the S&P 500, Tesla, Apple, Alibaba, GameStop, Nasdaq 100, Nvidia, Amazon, Microsoft, Netflix, Meta, and many other stocks and ETFs.

Benjamin Rauch, VP of Marketing at DeFiChain Accelerator, said, “New listings on DeFiChain are driven by the community. Since commodities are a hot topic right now, the community decided to list two commodity related tokens, which shows the real power of decentralization. On DeFiChain everybody can participate in building the financial tools of tomorrow!”

A dToken can either be held as an investment, traded on the DeFiChain DEX, or used for Liquidity Mining on the DEX. Users can mint dTokens on the DeFiChain blockchain by depositing BTC, DFI, dUSD, USDT or USDC as collateral in the DeFiChain Vault.

The dTokens are not “securities” issued by a company or a large institution, meaning they give users price exposure but not ownership, voting rights, dividends, or other benefits available to stockholders.

Rather than tracking and reflecting the actual stock price, the dTokens track and reflect a number of variable factors, and use oracles to capture those feeds.

Millions of users from around the world who couldn’t invest in the US stocks due to geographical restrictions, trading limits, and other issues could get price exposure to their favorite assets by minting or buying the relevant dTokens.

DeFiChain is a fully decentralized blockchain with on-chain governance. Since its mainnet launch in May 2020, the project has seen an enthusiastic involvement from the community in almost all aspects of the blockchain, from masternodes, projects, tools, governance, economic ideas, to code governance. Its codebase has been developed in an open source manner, and widely peer-reviewed and discussed by many.

About DeFiChain

DeFiChain is a decentralized Proof-of-Stake blockchain created as a hard fork of the Bitcoin network to enable advanced DeFi applications. It is dedicated to enabling fast, intelligent, and transparent decentralized financial services. DeFiChain offers liquidity mining, staking, decentralized assets, and decentralized loans. The DeFiChain Foundation’s mission is to bring DeFi to the Bitcoin ecosystem.

Media contact: Benjamin Rauch, press@defichain-ac.com

For more information, visit: Website | Twitter | Discord | GitHub

EU Bans All “Crypto-Asset Wallets, Accounts, or Custody Services” For Russia

Albert Brown
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EU Bans All “Crypto-Asset Wallets, Accounts, or Custody Services” For Russia

European Union (EU) Tightens Crypto Restrictions on Russia in a Fresh Set of Sanctions.



The European Union has tightened restrictions on Russian crypto wallets in its eighth package of sanctions on the country.

Russia persists in its severe hostilities towards Ukraine, as Russian forces have launched several offensive actions on the Eastern European country despite a series of repulsions. As Russia annexes Ukrainian territory to advance the war, the EU has launched the eighth package of aggressive sanctions on the country, including its digital currency access.

The EU disclosed this recent wave of sanctions through the European Commission in a press release Thursday. The restrictions with which the EU seeks to restrain the Russian government’s revenue and export liberties introduce an outright ban on the use of digital assets.

The recent sanctions are the European Union’s response to Russia’s annexation of Ukrainian regions as well as its threats of nuclear force.

Per information from the Commission’s press release, the EU banned all Russian digital wallets, restricting them from digital asset products such as custody services provided by mainstream crypto exchanges. This outright ban is a review of the previous €10,000 cap restriction placed on Russian wallets.

“The existing prohibitions on crypto assets have been tightened by banning all crypto-asset wallets, accounts, or custody services, irrespective of the amount of the wallet (previously up to €10,000 was allowed),”.

The European Union realizes the significance of the growing industry of digital assets to Russia amidst these Western sanctions. Consequently, the bloc seeks to restrict the cryptocurrency avenue through which Russia might circumvent economic sanctions.

The United States has already witnessed sanction-ridden Iran set up plans to circumvent economic restrictions crippling its cross-border trades. Two months back, Iran made its first import settled with crypto, worth $10M, as earlier reported.

An Iranian Ministry of Industry, Trade, and Mining official further disclosed that the country plans to make subsequent trades in the foreseeable future.

The outright ban on crypto wallets follows a recent announcement from the Russian Ministry of Finance regarding the country’s use of digital assets. The Ministry revealed Monday that it plans to permit the use of cryptocurrencies for transnational settlements in all industries without restrictions.

Users Can Pay for Crypto Tax Services Using Shiba Inu (SHIB)

Zabi
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0
Users Can Pay for Crypto Tax Services Using Shiba Inu (SHIB)

Users can now pay for crypto accounting and tax services using Shiba Inu (SHIB) payment method.



US-based Zenledger, the global leader in crypto accounting and taxes, entered into a partnership with BitPay to enable its clients to pay for crypto accounting and tax services in 15 major cryptocurrencies, including Shiba Inu (SHIB).

In the blog post, Zenledger confirms that it has successfully integrated the BitPay payment service into its system, and now all its customers can access crypto payment capabilities. Through BitPay, customers can pay for their crypto accounting and services in the following 15 major cryptocurrencies, including Shiba Inu (SHIB), ApeCoin, Bitcoin, Dogecoin (DOGE), Ethereum, and others.

Washington-based Zenledger is the leading cryptocurrency tax platform committed to helping its consumers save money and stay IRS-compliant since 2017. The company provides the most user-friendly crypto tax and accounting software that supports over 400+ exchanges, 40+ blockchains, 20+ Defi protocols, NFTs, and all wallets to its clients, including crypto traders and tax professionals. The software helps them manage cryptocurrency investments, trading, and fund operations.

Grayscale Launches Private Investment Vehicle Focused on Bitcoin Mining

Albert Brown
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Grayscale Launches Private Investment Vehicle Focused on Bitcoin Mining

 

Grayscale Investments is looking to leverage the upside of the Winter with the launch of its new mining-focused vehicle dubbed GDIO.


Grayscale has sealed its position in the cryptocurrency scene as the world’s largest virtual currency asset management firm. Over the years, the company has launched several products, each tailored for a particular class of investors.

As part of its attempt to satiate all investment tastes, the asset manager has recently launched the mining-focused Grayscale Digital Infrastructure Opportunities (GDIO). GDIO will allow investors to leverage the failing costs of Bitcoin mining hardware amidst the Crypto Winter.

Per information from a recent announcement, Grayscale noted that GDIO would be focused on Bitcoin mining hardware as a co-investment opportunity with affiliated subsidiary crypto mining and staking firm Foundry Digital. Grayscale and Foundry are subsidiaries of the capital market firm Digital Currency Group. 

As a means to harness the expertise of Foundry, GDIO’s daily operations will be overseen by Foundry Digital. Grayscale noted that the investment vehicle is already available for eligible investors as of press time.

Speaking on the development, Grayscale’s CEO, Michael Sonnenshein highlighted the asset manager’s dedication to providing variable investment products suitable for varying market cycles, giving investors an investment opportunity regardless of the climate.

“Our team has long been committed to lowering the barrier for investing in the crypto ecosystem – from direct digital asset exposure, to diversified thematic products, and now infrastructure through GDIO,” Sonnenshein added.

The Crypto Winter is never friendly to the crypto market, with the firstborn crypto receiving the burns of its effect. Bitcoin has seen a massive decline from its ATH of November last year. Additionally, the wave of deleveraging pumped into the system by the Terra collapse further exacerbated the situation.

Consequently, Bitcoin mining has not been the most profitable venture of late, as miners see a rise in electricity costs coupled with a failing BTC price. Mining hardware costs have consequently fallen, with equipment going for discounted prices. Grayscale seeks to take advantage of this opportunity with its new investment vehicle.

“As part of Foundry’s mission to empower a decentralized infrastructure, we’re excited to partner with Grayscale to broaden the ability to invest in Bitcoin mining during this opportune time,” CEO of Foundry Digital, Michael Colyer noted. 

Grayscale remains consistent in its digital asset investment product offerings. In March, the asset manager launched its Grayscale Smart Contract Platform Ex-Ethereum Fund (GSCPxE), as The Crypto Basic noted. The GSCPxE offers investors exposure to six different Ethereum Killers, including Cardano.

Recall that Grayscale charged the SEC to court following the financial regulator’s rejection of its application to convert its Grayscale Bitcoin Trust (GBTC) to a Bitcoin spot ETF.

Report: Cardano Capitulation May Soon Lead to ADA Price Rebound

Lele Jima
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0
Report: Cardano Capitulation May Soon Lead to ADA Price Rebound

Santiment makes favorable predictions for Cardano

Santiment, a leading market intelligence platform that tracks the activities of the top 2,000 cryptocurrencies, noted that the current capitulation of Cardano (ADA) may soon result in a price rebound for the asset class. 

The cryptocurrency data analytics company made the comments following the growing negative sentiment that has trolled Cardano in recent times. According to Santiment, investors currently have a total weighted sentiment of 0.3012 for Cardano’s native cryptocurrency. 

ADA’s Unfavorable Price Movement Hurts Investors

ADA’s current price has not brought much joy to many investors who had high hopes for the cryptocurrency earlier this year. The digital currency has slumped 86% since it peaked at an all-time high of $3.09 in 2021. 

The massive ADA dip is due to the numerous political and economic events that have occurred since the beginning of the year. It is worth noting that ADA is not the only cryptocurrency that was affected by these events. Somehow, investors have vented their anger at ADA, leading to widespread capitulation. 

Many investors thought the Vasil launch would be capable of causing the price of ADA to rebound. However, Vasil’s deployment was not enough to bolster ADA prices. Thus, leading to major crowd pessimism for ADA, Santiment said. 

EOS and Tron Also Affected

Santiment also observed a similar development for EOS and Tron. 

“#Cardano, #EOS, and #Tron are 3 once popular assets that have had trading crowds begin to turn on them,” Santiment noted. 

However, Santiment believes things might soon change for Cardano, which will propel its price to bounce back.  

“Price-performance has been particularly rough for these three in 2022, and the capitulation may soon lead to price rebounds to reel them back in,” Santiment added. 

 

At the time of writing, ADA is trading around $0.43, according to Coingecko data. The cryptocurrency is up only 1% in the past 24 hours. Since the beginning of the year, ADA has shredded 67.1% of its value.  

This Exchange To Support Terra Classic 1.2% Burn on LUNC Trading

Mark Brennan
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This Exchange To Support Terra Classic 1.2% Burn on LUNC Trading

CetoEX will list LUNC and implement the 1.2% tax burn on trading.


Terra Luna Classic burns are set to skyrocket as another cryptocurrency exchange has announced that it will be listing LUNC on its trading platform. 

CetoEX Global Services Crypto noted in a recent announcement that it would list LUNC on its platform on October 10, 2022, at midnight UTC. 

“Thrilled to announce Terra Classic (LUNC) listing soon on @Cetoex,” the exchange said in a tweet. 

The exchange will also implement the 1.2% tax burn mechanism on LUNC trading and on-chain and off-chain transactions.

“Terra Classic (LUNC) Burn Mechanism on Trading on-chain and off-chain burn,” the cryptocurrency exchange noted. 

CetoEX is a centralized cryptocurrency exchange allowing users to buy and sell over 20 cryptocurrencies, including Bitcoin and Ethereum. The exchange features a mobile app. 24/7 customer service, among others.

LUNC Investors React

The announcement brought joy to many LUNC investors, who believe the move will help accelerate the ongoing burn of the cryptocurrency’s total supply. 

@momoshi_san Said: “Let’s gooooo Cetoex Welcome to family.”

Some LUNC investors used the opportunity to slam other cryptocurrency exchanges that were not meeting the community’s expectations.

@bigmoney_for writes: “Thank you for supporting the community, its baffling how you guys are doing better work than Kucoin and Coinbase.”

Other Exchanges Contributions to LUNC Burn

While exchanges like Binance and MEXC Global have already supported the 1.2% tax burn, not many cryptocurrency trading platforms are willing to implement the proposal on LUNC trading. These crypto exchanges have only implemented the 1.2% tax burn on LUNC deposits and withdrawals. 

As reported by TheCryptoBasic, Binance has implemented a burn mechanism that will collect fees on all LUNC spot and margin trading pairs. The world’s largest exchange kept its promise and recently incinerated 5.5 billion LUNC in one single transaction.

The number of LUNC burns has continued to spike daily, with investors confident that the efforts will help revive the value of the cryptocurrency. At press time, LUNC is changing hands at $0.00029463 and is down 4.8% over the past 24 hours.

Charles Hoskinson Says How Fake Vitalik Accounts Do Not Violate Twitter Policy

Mark Brennan
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Charles Hoskinson Says How Fake Vitalik Accounts Do Not Violate Twitter Policy

Hoskinson urges Elon Musk to do a major overhaul as he expresses frustration over poor bot control.



In a tweet on Wednesday, Cardano chief Charles Hoskinson expressed frustration with Twitter’s bot control, sharing an email that surmised that fake verified Vitalik Buterin Twitter accounts carrying out giveaway scams do not violate its policies.

Hoskinson believes Elon Musk should embark on a major overhaul of the bot control staff when he takes over.

“So fake vitalik verified accounts running giveaway scams apparently don’t violate twitter policy,” tweeted Hoskinson. “can’t wait for @elonmusk to terminate every single person responsible for this pathetic bot control. Quit and never work in technology again.”

It is not the first time the Cardano chief has highlighted the prevalence of bots on the platform. Last month, Hoskinson did so by sharing a screenshot of a fake Vitalik account following him, asserting that the Ethereum founder will never do so, calling it the “greatest evidence” of bots on Twitter.

Notably, eradicating bots was one of the major reasons the Cardano founder threw his weight behind the Elon Musk deal to buy Twitter early this year. Moreover, Hoskinson offered to help the Tesla chief build a decentralized platform if Twitter turned the deal down.

However, Musk himself abandoned the deal asserting that the microblogging platform had been dishonest about the number of bots on it. In the fallout, Twitter dragged Musk to the Delaware Court of Chancery in hopes of forcing the deal.

Nonetheless, as The Crypto Basic reported on Tuesday, it appears that at the behest of his lawyers, Musk will pursue the deal again. Per the letter to Twitter via his lawyers, Musk offers to purchase the platform at the original offering price of $54.20 per share. However, Twitter must agree to pursue a dismissal of the case on or before the resolution of the deal.

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