Are you curious about the latest in the crypto world? Here’s a rundown of today’s key trends and events affecting Bitcoin prices, blockchain technology, DeFi, NFTs, Web3, and crypto regulations.
ABDS Token, a groundbreaking crypto project, has officially launched on Uniswap
Puebla, Mexico, August 23, 2024 (GLOBE NEWSWIRE) — The ABDS Token, an innovative cryptocurrency project, has been officially launched on Uniswap, marking a significant milestone in the cryptocurrency industry.
The ABDS Token aspires to blend the most promising elements of the crypto sector with the dynamic and supportive ecosystem of Web 3.0, paving the way for a new era of creativity, humor, and community interaction.
The ABDS Token represents a revolutionary advancement in digital finance. Developed by ABD Systems, a leader in IT solutions for over 13 years, this token offers a gateway into cryptocurrency.
Seamlessly integrated with our state-of-the-art technology services, the ABDS Token simplifies access to digital currencies, providing a personalized and secure experience. It is more than just a token; it symbolizes a commitment to innovation and ease within the constantly evolving digital transaction landscape.
Cryptex Finance to Release dApp on September 3rd
Cryptex Finance is a decentralized autonomous organization (DAO) responsible for managing the TCAP index, which tracks the total market capitalization of the cryptocurrency sector. The core concept behind Cryptex is to offer investors a tool that provides exposure to the entire cryptocurrency market without the need to purchase individual coins.
Cryptex Finance’s flagship product, the TCAP, delivers a real-time snapshot of the market capitalization of all cryptocurrencies. Unlike an average or an ETF, TCAP reflects the actual and real-time value of the entire cryptocurrency market cap. Cryptex works with various oracles to provide accurate market cap data, ensuring that TCAP accurately mirrors the current market value.
CTX serves as the native governance token within the Cryptex ecosystem. Holders of CTX can participate in protocol governance by proposing or voting on key decisions.
Progmat, DMM partner to introduce stablecoin for Seamoon Protocol
The Japanese stablecoin platform Progmat has partnered with the e-commerce and entertainment group DMM.com to explore the issuance of a stablecoin for use within DMM’s Seamoon Protocol. This proposed stablecoin aims to enhance the stability of the Seamoon ecosystem.
The stablecoin will be introduced in three phases and utilized alongside fiat currencies and credit cards. In addition, DMM has developed the SMP cryptocurrency for the Seamoon Protocol, which is set to launch in the third and fourth quarters of 2024, featuring five anime-inspired online games.
Bitcoin jumps as Powell signals Fed policy adjustment.
In his speech at Jackson Hole today, Fed Chairman Jerome Powell reinforced expectations of an interest rate cut in September, stating that "the time has come for Fed policy to adjust." This statement spurred a rise in Bitcoin (BTC), which surged towards $62,000 after a 1.1% increase in the past hour.
Ethereum (ETH) and Solana (SOL) also experienced gains, with 0.8% and 1.1% growth, respectively. Powell's dovish tone was further emphasized by his assertion that the Fed is confident inflation will reach 2%.
Furthermore, the Fed Chairman mentioned that the Fed does not aim to cool the labor market further and is committed to supporting robust job market growth.
Powell’s remarks align with the recently released minutes from the Federal Open Market Committee (FOMC) meeting in July, which suggested a likely 25 basis point (bps) cut in U.S. interest rates in September.
The minutes also echoed Powell’s late July speech, which hinted at a potential change in monetary policy if the data continues to meet expectations. This consistent messaging provides a sense of stability for risk asset investors.
Web3 adoption’s central issue: Seed phrases won’t work for 95% of mainstream users
The complexity of current Web3 wallets is a significant barrier to mainstream cryptocurrency adoption.
Bumblefudge, the janitor-in-chief at the Chain Agnostic Standards Alliance (CASA), an autonomous blockchain developer organization, believes that the crypto industry must move beyond using complicated seed phrases for widespread adoption.
Other prominent crypto companies are also pushing to eliminate such friction points.
Chintan Turakhia, Senior Director of Engineering at Coinbase, emphasized that attracting the first billion users to the blockchain will require more user-friendly applications designed for beginners.
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