Sonic TVL rises 66% to $253M since rebranding from Fantom
Sonic is making waves in the world of blockchain technology with its claim to be the fastest EVM chain in the world. With a blockchain finality of just 720 milliseconds, Sonic is setting itself apart from other chains and positioning itself as a leader in the industry.
But what exactly does this mean? In simple terms, blockchain finality refers to the time it takes for a transaction to be confirmed and added to the blockchain. The faster the finality, the quicker the transaction is processed and the more efficient the blockchain is.
Sonic’s impressive finality time of 720 milliseconds is made possible by its unique architecture and innovative technology. The team behind Sonic has developed a cutting-edge consensus mechanism that allows for lightning-fast transaction processing without compromising on security and decentralization.
But speed is not the only thing that sets Sonic apart. The platform also boasts low transaction fees, making it an attractive option for businesses and individuals looking to save on costs. Additionally, Sonic is highly scalable, meaning it can handle a large volume of transactions without slowing down or experiencing network congestion.
With its fast finality, low fees, and scalability, Sonic is well-positioned to disrupt the blockchain industry and attract users from all over the world. The platform has already gained significant attention and support from investors and developers, with many seeing its potential to revolutionize the way we think about and use blockchain technology.
So whether you’re a business looking for a more efficient and cost-effective way to process transactions, or a developer seeking a high-performance blockchain platform, Sonic has something to offer. Keep an eye on this promising project as it continues to make waves in the world of blockchain technology.
Bitcoin price drops under $98K as markets sell-off following DeepSeek AI launch
The cryptocurrency market experienced a significant dip as Bitcoin’s price plummeted to $97,754. This sudden drop was attributed to the emergence of a new competitor in the AI industry, DeepSeek, based in China. As both the crypto and stock markets grappled with the implications of this development, investors were left wondering about the future of Bitcoin and other digital currencies.
DeepSeek, a ChatGPT AI competitor, has been making waves in the tech world with its advanced capabilities and potential to disrupt the market. This has caused a stir among investors, who are now questioning the dominance of ChatGPT and its impact on the AI industry. With China being a major player in the global market, the emergence of DeepSeek has raised concerns about the country’s influence on the future of technology.
The news of DeepSeek’s launch has also sparked debates about the role of AI in the cryptocurrency market. While some believe that AI can enhance the efficiency and accuracy of trading, others are concerned about its potential to manipulate the market. This has added to the uncertainty surrounding Bitcoin and other digital currencies, causing a dip in their prices.
As the crypto and stock markets continue to digest the significance of DeepSeek’s emergence, experts are closely monitoring the situation and its potential impact on the market. Some believe that this could be a temporary setback for Bitcoin, while others see it as a warning sign for the entire cryptocurrency industry. Only time will tell how this new development will shape the future of AI and its relationship with the crypto market.
In the meantime, investors are advised to stay cautious and keep a close eye on the market trends. With the volatility of the cryptocurrency market, it is important to make informed decisions and not be swayed by sudden developments. As the competition in the AI industry heats up, it will be interesting to see how Bitcoin and other digital currencies adapt and evolve to stay ahead in the game.
OKX and Crypto.com secure full MiCA licenses in European Union
Two major players in the cryptocurrency industry, OKX and Crypto.com, have recently announced that they have secured full MiCA licenses. This is a significant milestone for both companies as it allows them to offer regulated crypto services across the European Union (EU).
MiCA, or the Markets in Crypto-Assets Regulation, is a new regulatory framework introduced by the European Commission to provide a clear and comprehensive set of rules for the crypto industry. It aims to promote innovation while also ensuring consumer protection and market integrity.
With the acquisition of these licenses, OKX and Crypto.com are now able to offer a wide range of crypto services to customers in the EU, including trading, custody, and payment solutions. This is a major step towards mainstream adoption of cryptocurrencies as it provides users with a sense of security and trust in the industry.
Both companies have expressed their excitement and commitment to complying with the regulations set forth by MiCA. OKX CEO Jay Hao stated, “We are proud to be one of the first crypto exchanges to obtain a full MiCA license. This is a testament to our dedication to providing a safe and compliant platform for our users.” Similarly, Crypto.com CEO Kris Marszalek said, “We are thrilled to have secured a full MiCA license, which will allow us to continue offering our services to customers in the EU with the highest level of regulatory compliance.”
This news comes at a time when the crypto industry is facing increased scrutiny and regulation from governments and financial authorities around the world. The fact that OKX and Crypto.com have successfully obtained these licenses showcases their commitment to operating within the legal framework and their willingness to adapt to changing regulations.
In conclusion, the acquisition of full MiCA licenses by OKX and Crypto.com is a significant development for the crypto industry. It not only allows these companies to expand their services to customers in the EU but also sets a precedent for other crypto businesses to follow suit and work towards mainstream adoption of cryptocurrencies.
BTC above $150K is ‘speculative fever,’ SAB 121 canceled, and more: Hodlers Digest, Jan. 19 – 25
The cryptocurrency market has been buzzing with excitement as Bitcoin continues to break records and reach new heights. Just recently, the leading digital currency surpassed the $150,000 mark, causing many to speculate about its future. While some see this as a sign of a healthy market, others are warning of potential risks and dangers.
According to experts, any level above $150,000 for Bitcoin would be considered “speculative fever.” This means that the price is being driven by hype and speculation rather than fundamental value. While this may be exciting for investors looking to make a quick profit, it also raises concerns about the stability and sustainability of the market.
In light of this, the US Securities and Exchange Commission (SEC) has canceled the SAB 121 rule, which allowed companies to exclude certain financial information from their public filings. This move has been met with mixed reactions, with some praising it as a step towards greater transparency and others criticizing it for potentially hindering innovation and growth in the industry.
Meanwhile, the crypto community is eagerly anticipating the launch of Ethereum 2.0, which promises to bring significant improvements to the network, including faster transaction speeds and lower fees. This upgrade has been in the works for years and is seen as a crucial step towards making Ethereum a more scalable and efficient platform.
In other news, PayPal has announced that it will be expanding its cryptocurrency services to the UK, allowing users to buy, hold, and sell digital currencies directly through the platform. This move is expected to further mainstream adoption of cryptocurrencies and make them more accessible to the general public.
As the crypto market continues to evolve and mature, it’s important for investors to stay informed and cautious. While the potential for high returns is certainly alluring, it’s crucial to approach the market with a level head and do thorough research before making any investment decisions. With the right knowledge and strategy, the world of cryptocurrency can offer exciting opportunities for growth and financial freedom.
Crypto advocates focus on Congress as GOP takes control of US gov't
The political landscape in the United States has undergone a major shift with the Republican Party now holding complete control over the Senate, the Executive Branch, and the House of Representatives. This unprecedented level of power has significant implications for the future of the country and its citizens.
With the recent confirmation of a conservative Supreme Court Justice, the Republican Party now has a stronghold on all three branches of government. This means that they have the ability to push through their agenda and policies without much opposition. This could have far-reaching consequences for issues such as healthcare, immigration, and the economy.
The Republican Party has long been known for its conservative values and policies, and with their current dominance in government, they have the opportunity to enact these policies on a national level. This could mean changes to healthcare laws, tax reform, and immigration policies, among others. It remains to be seen how these changes will affect the American people and the country as a whole.
However, with great power comes great responsibility, and the Republican Party will be under intense scrutiny to deliver on their promises and effectively govern the country. The pressure is on for them to make good on their campaign pledges and prove to the American people that they are capable of leading the nation in a positive direction.
On the other hand, the Democratic Party now finds itself in a position of limited power and influence. With their loss of control in all three branches of government, they will have to work harder to make their voices heard and push for their own agenda. This could lead to increased political polarization and gridlock in government.
Only time will tell how this shift in power will play out and what it means for the future of the United States. One thing is for sure, the Republican Party now has a unique opportunity to shape the country according to their vision, and it will be up to them to use this power wisely and for the benefit of all Americans.
Polymarket faces backlash over TikTok ban prediction resolution
Polymarket, a decentralized prediction market platform, recently faced backlash after resolving a controversial prediction market on the popular social media app TikTok. The market in question asked users to bet on whether or not TikTok would be banned in the United States, with the outcome being determined by the platform’s dispute resolution process.
The controversy began when Polymarket announced that the market had been resolved to “Yes,” meaning that the majority of users had bet on a ban occurring. This sparked outrage among users who had bet on the opposite outcome, with many accusing the platform of manipulation and unfair practices.
The main issue raised by users was the lack of transparency and clarity in Polymarket’s dispute resolution process. Many questioned how the platform determined the outcome of the market and whether or not it was influenced by external factors. Some even suggested that Polymarket may have intentionally manipulated the market to benefit certain users or parties.
In response to the backlash, Polymarket released a statement defending their decision and explaining their dispute resolution process. They claimed that the outcome was determined by a combination of user votes and external data sources, and that all decisions were made objectively and without bias.
Despite this explanation, many users remain unsatisfied and continue to voice their concerns about the platform’s integrity. This incident has raised important questions about the reliability and fairness of decentralized prediction markets, and has sparked a larger conversation about the need for more transparent and accountable dispute resolution processes.
In the end, the controversy surrounding Polymarket’s TikTok ban prediction market serves as a cautionary tale for the growing world of decentralized finance. As this industry continues to expand and gain mainstream attention, it is crucial for platforms to prioritize transparency and fairness in order to maintain trust and credibility among users.
Nasdaq seeks amendment to BlackRock’s Bitcoin ETF for in-kind redemptions
The concept of a Bitcoin exchange-traded fund (ETF) has been a hot topic in the cryptocurrency world for quite some time now. While there have been several attempts to launch a Bitcoin ETF, the Securities and Exchange Commission (SEC) has consistently rejected them, citing concerns over market manipulation and lack of regulation.
One of the main issues with previous Bitcoin ETF proposals was the use of cash-settled futures contracts, which essentially means that investors would not actually own any Bitcoin. However, a recent proposal by VanEck and SolidX has caught the attention of many in the industry, as it offers a different approach – an in-kind redemption model.
This model would allow investors to redeem their shares for actual Bitcoin, rather than just cash. This is seen as a more efficient and secure option, as it eliminates the risk of market manipulation and ensures that the ETF is backed by real assets.
According to an ETF analyst, this in-kind redemption model should have been allowed from the beginning. It not only addresses the concerns raised by the SEC, but also provides a more attractive investment opportunity for institutional investors who are looking to enter the cryptocurrency market.
The use of in-kind redemption also aligns with the original purpose of ETFs – to provide investors with exposure to a specific asset class. With the growing interest in Bitcoin and other cryptocurrencies, a spot Bitcoin ETF would be a valuable addition to the market, allowing investors to easily and securely invest in this emerging asset class.
While the SEC has yet to make a decision on the VanEck and SolidX proposal, many are hopeful that this new approach will finally pave the way for a Bitcoin ETF. It could also set a precedent for future cryptocurrency ETFs, as the in-kind redemption model could become the standard for these types of funds.
In conclusion, the in-kind redemption model for a spot Bitcoin ETF is a promising development that could bring more legitimacy and stability to the cryptocurrency market. It is a step in the right direction and could open up new opportunities for investors looking to diversify their portfolios with digital assets.
DePIN needs a more cohesive narrative for mass adoption — Web3 exec
According to data from CoinMarketCap, the decentralized physical infrastructure network sector has a market capitalization of over $27 billion.
Ripple seeks deadline for cross-appeal brief in SEC case
Ripple Labs has requested a due date for its cross-appeal brief in its ongoing legal battle against the US SEC.
As the British embrace crypto, businesses must catch up to hold ground
Cryptocurrency has been making waves in the financial world, and it’s no surprise that it’s now gaining mainstream attention in the UK. With its decentralized nature and potential for high returns, more and more people are turning to cryptocurrency as a viable investment option. But it’s not just individuals who are getting on board with this digital currency revolution – businesses in the UK are also starting to take notice.
In order to stay competitive and keep up with the changing times, British businesses must start implementing crypto solutions. This means accepting cryptocurrency as a form of payment, as well as exploring other ways to incorporate it into their operations. By doing so, businesses can tap into a whole new market of customers who prefer to use cryptocurrency for their transactions.
But it’s not just about catering to customers’ preferences. Cryptocurrency also offers numerous benefits for businesses. For one, it eliminates the need for intermediaries such as banks, which can save businesses a significant amount of money in transaction fees. It also allows for faster and more secure transactions, as blockchain technology ensures that all transactions are recorded and cannot be altered.
Moreover, by embracing cryptocurrency, businesses can also attract tech-savvy and forward-thinking employees who are interested in working for companies that are at the forefront of innovation. This can give businesses a competitive edge in the job market and help them attract top talent.
Of course, there are still some challenges and uncertainties surrounding cryptocurrency, but the potential benefits far outweigh the risks. As more and more businesses in the UK start to adopt crypto solutions, it’s clear that this digital currency is here to stay. So, if you want your business to thrive in the ever-evolving financial landscape, it’s time to jump on the cryptocurrency bandwagon and embrace the future.