🦎🚀 Making movesss 💵

Friday, June 2, 2023

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Stablecoins making a move

Tether's USDT stablecoin market cap hits an all-time high of $83.6 billion, commanding about 7.5% of the total crypto market capitalization.

On the other hand, Circle's USDC stablecoin will launch its USD-backed stablecoin natively on Arbitrum (L2 on Ethereum). Previously, all USDC held on Arbitrum were 'bridged' versions of USDC from Ethereum.

MakerDAO, the decentralized autonomous organization (DAO) behind stablecoin DAI, has paved the way to purchase up to an additional $1.28 billion in U.S. government bonds via crypto asset manager BlockTower Capital. This aligns with its ambitions to diversify reserve assets backing its $5 billion stablecoin DAI and boost its protocol revenues.

In today's news, we have express news for Asia, the first LSD on zkSync, and a reminder for those who still have positions in SNX v1.

Read on!

Analyzing Crypto by Types

Did you know that besides cryptocurrencies, there are 11 more types of crypto?

And that's just at the asset/token level – protocols & networks get classified separately under the GCCS!

24h Hot Searches Worldwide

Pepe (+1.7%)
XRP (+2.1%)
Sui (-0.8%)
Ethereum (+1.7%)
Bitcoin (+0.9%)
Ovr (+7.4%)
Pink BNB (-27.7%)

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zkSync DeFi to the moon?

Ethereum staking provider Rocket Pool has been deployed on the zkSync Era network. This will allow users to enjoy the lower transaction costs and faster speeds of Era.

Rocket Pool is one of Ethereum's biggest liquid staking providers, having also established a presence in other Layer 2 networks such as Optimism and Arbitrum.

The Block

Do you still have SNX positions on v1?

Synthetix Futures v1 (or Futures, as it was also called) is ending and replaced with the long-anticipated Perps v2. However, there is still roughly $150,000 worth of positions remaining outstanding.

The SNX community has recently approved a plan to gradually increase the margin requirements on existing positions to liquidate all remaining positions on v1 eventually. Synthetix (SNX), a decentralized liquidity provisioning protocol built on Ethereum and Optimistic Ethereum.

CoinDesk

Asia news express

Lots of exciting things have been happening in Asia as we get close to Hong Kong opening up to be the crypto hub of Asia.

Firstly, we have the developers of the Chinese Yuan and Hong Kong Dollar stablecoin issue CHNC being reported to be taken away by law enforcement officials. WeChat has also integrated Bitcoin price quotes in its search queries.

Meanwhile, in Japan, the largest airline company Nippon Airways has launched its own NFT marketplace called 'ANA Grandwhale.'

Cointelegraph

A few words about WhiteBIT

WhiteBIT is one of the largest European centralized crypto exchanges with 350+ trading pairs and 270+ digital assets, including its native token WBT, 10+ national currencies, spot, margin, and futures trading with up to 20x leverage and 24/7 support. The platform is also one of the 3 safest crypto exchanges with the highest AAA rating according to the audits of Hacken.io and the CER.live certification platform.