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The venture capitalist branch of the world’s largest crypto exchange platform by volume is announcing a new investment into a Solana (SOL) staking protocol. In a new blog post, Binance Labs says it’s investing an unspecified amount into Solayer, a Solana-based staking network that has gathered over $150 million in Total Value Locked (TVL) and reeled in over 70,000 unique addresses in just 60 days after its launch. According to Binance, Solayer’s goal is to improve the bandwidth of on-chain decentralized applications (DApps) and to secure the blockchain. “Built natively on Solana, Solayer leverages the economic principles of proof-of-stake to extend the security of Solana’s base layer towards other decentralized systems and dApps… With the newly secured funds from Binance Labs, Solayer plans to scale its team, onboard new protocols into the ecosystem, and establish itself as a core primitive of the Solana blockchain. Additionally, the...

Cardano’s DeFi footprint and network activity show an uptick in users, but will it be enough to sustain ADA’s recent bullish price action? Cardano (ADA) experienced a remarkable price surge of 23.9% on July 13, leaving investors curious about the potential for further gains. This significant rally comes on the heels of a favorable judicial decision regarding XRP, leading many to question if ADA has what it takes to break above the $0.40 mark. Cardano 1-day price in USD at Coinbase. Source: TradingView There are three reasons to support Cardano’s bullish momentum, including its potential to integrate other blockchains, increased activity in decentralized applications, and the decreased regulatory risk, although the latest XRP event requires a more cautious approach. SEC actions specifically named ADA as a potential security Cardano and its ADA token found itself in the spotlight as the Securities and Exchange Commission (SEC) referred to it as a potential security during the recent...

Ethereum price looks poised for additional downside as low as the $1,560 level. Ether (ETH) price plunged 7% between June 14 and June 15, reaching its lowest level in three months and impacting investors’ view that the altcoin was en-route to turning $2,000 to support.  It is worth noting that the $1,620 bottom represents a $196 billion market capitalization for Ether, which is higher than PetroChina’s $186 billion, and not far from chipmaker AMD’s $198 billion. Being the 66th largest global tradable asset in the world is no small feat, especially considering that the cryptocurrency is merely 8 years old and does not return any kind of direct profit for the project’s maintenance. On the other hand, securities enjoy the benefits of corporate earnings and eventual government subsidies, so perhaps investors should be concerned by the recent price drop from Ether. Ether price pressured succumbs to regulation and lowered network activity Regulatory pressure helped to subdue investors’ a...

Developers have barely scratched the surface when it comes to the potential of blockchain — here’s how to ramp up progress. Blockchain development has come a long way since the introduction of Bitcoin (BTC), the leading cryptocurrency and the first successful application of blockchain technology. The introduction of smart contracts by the Ethereum blockchain gave birth to potential use cases for blockchain both within and beyond the finance world. Thanks to the fast, immutable and decentralized nature of blockchain, independent developers and industry giants from all sectors flocked to understand the dynamics of this new technology by creating myriad decentralized applications (DApps). Over the years, blockchain-based apps and services have paved the way for disruption in many sectors, with examples like instant cross-border payments, digital identity, play-to-earn games, nonfungible tokens (NFTs) and even supply chain management systems. The developer ecosystem saw an uptick with the...