Bitcoin Continues To Hit Record Highs Against Falling Fiat Currencies
Bitcoin thrives in countries with falling currencies
Bitcoin hit its all-time high against the Turkish Lira on October 12, climbing to 92,905 Turkish Lira on the cryptocurrency exchange
The Turkish lira has risen in value due to support for the Azerbaijani military campaign in the Nagorno-Karabakh conflict. At the end of September, it fell to a new all-time low against the US dollar, losing almost 50 percent of its value in just three years.
Gemini Exchange partners with UK licensed cryptocurrency payment processor
Crypto exchange Gemini simplifies fiat bank transfers for UK customers.
Winklevossa twins’ crypto exchange Gemini continues to consolidate its regulated services for clients in the United Kingdom.
On October 12, Gemini announced a partnership with BCB Group, a cryptocurrency-focused European payment processor that already works with major platforms such as Coinbase, Bitstamp, and Galaxy Digital.
Grayscale Ethereum Trust Is Now Officially SEC Reporting Company
Grayscale Investments announced that its Ethereum Trust will report directly to the SEC.
A few months ago, Grayscale filed Form 10 with the SEC on behalf of the Ethereum Trust, to become the company’s second product designated as a digital currency investment vehicle that reports to the Commission. Another product is the Grayscale Bitcoin Trust.
Coinbase Commerce now allows merchants to convert cryptocurrency to fiat right on the platform.
Coinbase Commerce will allow users to convert cryptocurrencies to fiat currencies and stablecoins right on the platform.
In the past, merchants had to transfer their crypto payments to the Coinbase exchange platform for conversion. They can now do this without leaving the Commerce platform, Coinbase reported on a blog post published on Monday.
Roxe: new stablecoin mimics the central bank
The Roxe Chain Foundation claims that its stablecoin, RoUSD, is the only fully decentralized smartcoin.
Created by liquidity solutions provider ExOne Apifiny, Roxe Chain aims to create what it claims will be the first truly decentralized stablecoin. Using algorithms programmed into smart contracts, the DeFi system with three tokens will regulate supply and demand in a way that maintains the stability of the RoUSD price more efficiently than stablecoins backed by fiat or digital assets.
IMF, World Bank and G20 countries to create Central Bank rules on digital currency
The 20 largest economies in the world set official standards for the regulation and issuance of sovereign digital currencies.
By the end of 2022, members of the G20, IMF, World Bank and BIS will complete the development of the stablecoin regulatory framework, as well as research and selection of CBDC projects, technologies and experiments, according to the report.
DeFi Google Searches Drop 40% As Industry Failures Rise
DeFi searches on Google plummeted after September highs.
Google trend data shows that worldwide interest in DeFi has been steadily declining since early September. However, the decline in interest in DeFi at Google hasn’t had a big impact on TVL. There is no apparent decline, according to DeFiPulse, as investors locked in nearly $ 11 billion, close to an all-time high of just over $ 11 billion.
DeFi Google Requests Dropped
PancakeSwap Launches New Liquidity Farms Amid 8% BNB Growth
DeFi PancakeSwap Farming Protocol recently announced new liquidity pools for farmers.
Binance-backed PancakeSwap DeFi Yield Farm Protocol has launched a number of new pools or farms for liquidity providers to make more profit by offering their own token to a centralized exchange.
PancakeSwap’s liquidity hit an all-time high of $ 216 million, according to analyst dashboard Uniswap. This puts it on par with InstaDApp according to Defipulse.com, which does not list BSC protocols.
The launch of the liquidity farm again boosted BNB prices, with the exchange token up more than 8% in a day, peaking at $ 31.60, according to Coingecko.
PancakeSwap Launches Liquidity Farms
Ethereum 2.0 Close To Completion As Final Zinken Testnet Runs Smoothly
The testnet launched, called Zinken, works flawlessly.
The currently launched ETH 2.0 testnet called Zinken, launched on Monday October 12th, is “working great,” according to one developer and contributor.
Zinken is an abbreviated testnet, like the one previously called Spadina, that aims to enable customer teams to resolve issues during the release process. It also gives validators the opportunity to experience a smoother process before going online.
According to beaconcha.in Zinken blockchain explorer, there are currently over 136,000 simulated ETH and 4,269 active validators on the testnet.