Chainlink (LINK) pumps 26% in 6 days — Is there room for more?

[ad_1] Chainlink's (LINK) token has experienced a remarkable 26% surge between Nov. 2 and Nov. 8, approaching $14, a level not seen since April 2022. This solidified its position as the 10th largest cryptocurrency (excluding stablecoins) by market capitalization.While the price action is a welcome sight for traders, is Chainlink's current valuation of $8.1 billion justified? Cointelegraph research shows that the impressive price surge is driven by expectations of real-world

Progmat stablecoin platform takes shape as wallet, liquidity providers join

[ad_1] The Progmat Coin ecosystem is taking shape in Japan. With a market maker, wallet provider and cryptocurrency exchanges on board, Progmat and Mitsubishi UFJ Financial Group (MUFG) hope to launch two stablecoins in the summer of 2024.Stablecoin platform Progmat Coin, MUFG and wallet provider Ginco have begun a study with the goal of issuing a yen-denominated XJPY stablecoin and dollar-denominated XUSD stablecoin, Progmat said in a statement. This is

NFT sales jump to $129M, OpenSea layoffs and Elon Musk slams NFTs: Nifty Newsletter

[ad_1] In this week’s newsletter, we dive into the dynamic world of nonfungible tokens (NFTs) and their impact on the digital landscape, as NFT sales have skyrocketed to an impressive $129 million in November, according to data from Nansen. Despite the surge in sales, OpenSea has laid off a substantial amount of staff as it prepares to launch version 2.0 of its platform, and Elon Musk unintentionally made a case

LidoDAO launches official version of wstETH on Base

[ad_1] Lido’s governing body has approved the deployment of Lido’s Wrapped Staked Ether (wstETH) to Coinbase’s Base network, according to a Nov. 8 announcement. The token is now live and can be traded or used in decentralized finance (DeFi) applications on the Base network.Lido is on @BuildOnBase You can now bridge your staked ETH to Base.— Lido (@LidoFinance) November 8, 2023 Lido is a liquid staking protocol that

Stablecoins ‘not a safe store of value’: BIS

[ad_1] The Bank of International Settlements (BIS), a coalition of the world's central banks, criticized stablecoins as being "not a safe store of value" in its latest research report dated Nov. 8.In outlining its reasons, the BIS explained that from January 2019 to September 2023, fiat-backed stablecoins maintained their peg ratio only 94% of the time, less than the 100% often promised in projects' whitepapers. Meanwhile, the peg ratio for

Visa launches global AI advisory practice focused on generative systems

[ad_1] Visa announced the launch of its new global AI advisory practice on Nov. 8. The consultation service will be part of Visa Consulting & Analytics (VCA) and, according to a press release, will focus on “providing actionable insights and recommendations to empower clients to unlock the potential of AI and utilize generative AI.”Citing its “30-year AI legacy,” Visa announced the new practice alongside a range of new services related

New BTC price levels to watch as Bitcoin avoids $36K

[ad_1] Bitcoin (BTC) has new short-term BTC price targets as consolidation mixes with bouts of volatility.After a classic “short squeeze” took the largest cryptocurrency to near $36,000, Bitcoin market participants are highlighting key levels to look for from Nov. 8 onward.Bitcoin buy liquidity inches down to $34,000Bitcoin is facing hurdles overcoming resistance at the $36,000 mark, and several attempts to clear it have quickly faded data from Cointelegraph Markets Pro

HKEX-listed tech firm launches $15M Bitcoin fund

[ad_1] Linekong Interactive, a gaming and film production company headquartered in Beijing and listed on The Stock Exchange of Hong Kong (HKEX), is allocating $15 million to invest in projects building on the Bitcoin network.Wang Fang, the founder of Linekong, said in a Nov. 8 tweet that the fund, dubbed "BTC Next," will be used to accelerate emerging projects in the Bitcoin ecosystem, including "asset issuance protocols, trading markets, expansion, virtual machines,

Polygon Labs and NEAR announce ZK prover for WASM integration

[ad_1] The developers of the NEAR and Polygon networks are teaming up to create a zero-knowledge (ZK) prover for Web Assembly (WASM) blockchains, according to a joint announcement on Nov. 8. The new prover, called “zkWASM,” will for the first time allow WASM-based networks to join the Polygon ecosystem.Zero-knowledge, meet Web Assembly.The NEAR Foundation and @0xPolygonLabs are set to deliver the future of zero-knowledge for WASM based blockchains with zkWASM.Empowering

How to manage crypto losses on tax returns in the US, UK and Canada

[ad_1] Cryptocurrency taxation is a subject of increasing importance, with governments worldwide working diligently to establish clear rules for taxing digital assets. In the United States, the United Kingdom, and Canada, crypto holders navigate complex regulatory landscapes, making it crucial to understand how crypto losses are taxed and their potential impact on tax liability. Whether new to crypto trading or with years of experience, reporting income and paying applicable taxes