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Coinbase Derivatives To Offer Oil and Gold Futures Contracts in Push To Bridge TradFi and Digital Assets
The derivatives arm of the largest US-based crypto exchange is launching retail-sized futures contracts for oil and gold.
In a statement, Coinbase Derivatives says that while crypto derivatives remain at the core of its business, it is introducing commodities futures contracts to give customers enhanced trading opportunities in the traditional markets.
Commodity futures contracts oblige buyers to purchase an underlying commodity such as oil, gold and silver at a predetermined future price and date. Investors take advantage of these products to hedge investment positions and capitalize on the price movement of the underlying asset.
Explains Coinbase,
“Our main objective in introducing new futures contracts is to provide diversified markets that facilitate price discovery and risk management.” Read More
Solana eyes 2025 for Firedancer rollout as DePIN activity surges
With DePIN activity surging, Solana targets Firedancer upgrade to enhance network performance and accommodate growth.
Solana plans to release a full version of the Firedancer upgrade in 2025, with “pared-down versions” rolling out before then, according to Solana Foundation’s DePIN lead, Kuleen Nimkar.
The upgrade aims to increase Solana’s overall reliability and scalability as network activity from decentralized infrastructure protocols continues to grow. “We’re seeing a ton of up-and-coming deep-end projects that are doing everything,” Kuleen said of DePIN activity at DEFICON on May 23.
DePIN, or decentralized physical infrastructure networks, refers to the use of blockchain to manage and operate physical infrastructure systems. Read More
Aptos hits all-time high in user transactions
The recent surge in transactional activity on Aptos is attributed to the launch of Tapos Cat, a new tap-to-earn game that has gained rapid popularity.
The layer-1 blockchain platform Aptos, developed by former Facebook employees, has achieved a new milestone in blockchain transactions. It surpassed Solana by recording 115. 4 million transactions in a single day on May 25, compared to Solana’s 31.7 million.
The surge in transaction volume set a new benchmark and surpassed the previous L1 record of over 65 million held by Sui Network by a significant margin of over 50%.
According to Aptoscan, the blockchain’s user TPS (transactions per second) also reached an all-time high of 32,000 on the same day. This signifies a substantial increase in activity within the blockchain ecosystem, underscoring the growing adoption and momentum in the industry.
The recent surge in transactional activity on Aptos is attributed to the launch of Tapos Cat, a new tap-to-earn game that has gained rapid popularity. Within its first day on the mainnet, the game processed an impressive 10 million transactions, significantly contributing to the increased activity on the platform. Read More
Ledger finally ships Stax hardware wallet after months of delays
Ledger chief experience officer Ian Rogers said that the extra time allowed them to ensure that the operating system is “refined with more features.”
Ledger has begun shipping its new Ledger Stax hardware wallet to customers who pre-ordered it over a year ago, following a significant delay since its original release date.
On Dec. 6, 2022, at its Web3 developer event, Ledger Op3n, Ledger revealed that it had partnered with Tony Fadell, the creator of the iPod, to develop a new hardware wallet named Ledger Stax.
However, the product was not delivered as promised. Stax was originally scheduled for release in March 2023, but reportedly encountered delays due to manufacturing issues. On Reddit, some community members complained about their purchases and expressed doubts about the delivery.
Fourteen months after the original release date, Ledger announced in a press release that it had now finally started shipping to customers who placed pre-orders. Read More
The Fourth Bitcoin Halving is done. How Has It Stacked Up Historically? What can you expect in the coming months?
The Bitcoin halving, a highly anticipated and pivotal event in the cryptocurrency industry, has finally taken place. As history has demonstrated, when the supply of new BTC is reduced while demand remains steady or increases, Bitcoin tends to reach record levels, significantly impacting the entire cryptocurrency market.
The Bitcoin halving event has sparked concerns about its potential impact on Bitcoin miners, which could, in turn, affect the value of the cryptocurrency and the broader market. This article explores the Bitcoin halving, examining its historical effects on the crypto market and its implications from the most recent halving in April 2024.
It's important to differentiate between Bitcoin, the network, and BTC, the digital currency, to understand Bitcoin's halving. The Bitcoin network is a series of data blocks, each with a record of BTC transactions and a link to the previous block, forming a chain-like structure called a blockchain.
Bitcoin (BTC), on the other hand, functions as a virtual medium of exchange that incentivizes specialized computers, known as miners, to gather and validate outstanding Bitcoin transactions. These transactions are then bundled into a block and linked to the decentralized ledger, referred to as the blockchain. As a result of this process, the miner is rewarded with a predetermined quantity of Bitcoin. Read More
Blockchain dev Sphere introduces bank-to-wallet Telegram extension
Sphere Labs, a blockchain developer focused on bringing stablecoins as a service to businesses, has announced a new bank-to-wallet Telegram extension.
Sphere Labs, a blockchain developer focused on facilitating stablecoin services for business clients, has announced a new fiat on-ramp and off-ramp designed to work within Telegram.
The bank-to-wallet extension will allow Telegram users to shift bank funds directly into their wallets and vice versa within the Telegram app for an advertised fee of 0.1% per transaction for early users.
The service will open to early users the week of May 27, and a full launch is expected later this year.
Although users from any non-sanctioned country can use the Telegram extension, they must associate the service with a United States dollar or euro-denominated bank account. Read More
Solana community votes to give validators all priority fees
The Solana community has voted by a significant margin to give 100% of priority fees to network validators.
On May 27, the Solana community voted in favor of giving network validators 100% of priority fees generated by network users; the vote passed by a margin of 77%.
Previously, Solana’s priority fees were split evenly between rewarding Solana’s validators and the Solana network’s token-burning mechanism.
Solana has seen a dramatic increase in price since the end of 2023. The token reached a high of roughly $210 in March 2024 and is currently trading at a price of around $171.
Despite Solana’s strong price performance, the network continues to struggle with congestion issues and several crashes that have resulted in the network going down on at least four separate occasions. Read More
Chainlink Booms Amid Swift Payments Update, Ethereum ETF Rush
It's been a quiet day for crypto markets—but Chainlink's LINK is rising on a raft of good news.
The 14th biggest cryptocurrency by market cap, LINK is Monday's best performer out of the top 40 coins. CoinGecko data shows that it has risen more than 10% in the past day, and is now trading for $18.75.
LINK is the native token of Chainlink, an oracle project built on Ethereum that's designed to get information in and out of a blockchain—and between chains—securely.
The surge is likely the result of LINK holders and supporters feeling bullish on the news dropping that Chainlink would be co-presenting with international payments platform Swift at this week's Consensys conference in Austin, Texas.
The collaboration, which bore its first fruits last fall, is one that Chainlink has said proved that "existing infrastructure can merge with the new world of blockchains." Read More
Ethereum validator P2P.org enables ETH restaking on EigenLayer
P2P.org’s new API integration enables intermediaries to stake Ether and restake it on EigenLayer directly through its platform.
P2P.org, an Ethereum blockchain validator and provider of noncustodial staking tools, is moving to optimize staking rewards with a new API integration.
P2P.org has integrated an automated, end-to-end Restaking API, allowing users to restake Ether on decentralized staking protocols like EigenLayer, the firm announced on May 27.
The newly introduced Restaking API integrates with P2P.org’s existing Ethereum API, allowing intermediaries to both stake ETH and restake it on EigenLayer.
“Intermediaries are continually seeking ways to add value for their clients and differentiate their services in a crowded market,” P2P.org CEO Alex Esin said. “With our new Restaking API, we are providing a powerful tool that does just that,” he noted, adding:
“Our clients can now offer their users the ability to easily restake ETH, maximizing their staking rewards and airdrop opportunities directly from their own platforms.” Read More
Disclaimer: These articles are provided for informational purposes only. They are not offered or intended to be used as legal, tax, investment, financial, or any other advice.
