Home / Cardano News /Bitcoin․com Launches NFT Project - Buyers In VERSE Token Sale To Receive Exclusive NFTs

Bitcoin․com Launches NFT Project - Buyers In VERSE Token Sale To Receive Exclusive NFTs

22 Oct 2022

During the last 125 days or roughly four months, the total value locked (TVL) in decentralized finance (defi) has been range bound within the $50 billion to $65 billion region. The TVL in defi has shed significant value during the past six months as it dropped from $161 billion on April 1, down more than 67% lower to today’s $51.72 billion.

Defi action has subsided a great deal in terms of the total value locked during the last six months. On Saturday, October 22, 2022, the TVL in defi is around $51.72 billion, with the collateralized debt position (CDP) protocol Makerdao commanding 14.76% of the entire TVL with $7.64 billion on Saturday morning (ET).

In addition to Makerdao, Lido, Curve, Aave, and Uniswap make up the top five largest TVLs today. The liquid staking protocol Lido is just below Makerdao with a TVL of around $6 billion and $5,839,046,587 of Lido’s TVL is staked ethereum (ETH).

Makerdao recorded a 30-day increase in value as the TVL jumped 4.82% higher last month. Sushiswap saw a notable increase, rising 41.27% during the last 30 days, and the yield protocol Aura jumped 38.70% over the last month.

Out of all the blockchains today, Ethereum is the most dominant in terms of defi TVL with roughly 57% of the entire $51.72 billion locked in defi today. ETH has around $29.56 billion, while the second largest TVL by blockchain, Binance Smart Chain (BSC) has $5.32 billion or 10.33% of the aggregate value locked.

Besides ETH and BSC, Tron, Avalanche, Polygon, and Arbitrum follow behind, respectively, in terms of TVL by blockchain. Today, statistics show there are 607 decentralized exchange (dex) protocols with $21.57 billion locked.

There are 189 lending defi apps with $13.96 billion locked on Saturday and 57 CDP protocols command $10.37 billion. There’s also a total of 45 liquid staking applications that hold $7.91 billion in value today.

The value locked in cross-chain bridge platforms is also down 22% lower during the past 30 days. $7.80 billion is locked on decentralized cross-chain bridge platforms with 13,178 unique depositor addresses total.

Polygon is leading the bridge pack with roughly $3.37 billion TVL, but the TVL is down 6% during the past month. Arbitrum has around $1.44 billion which is down 2% lower than the month prior.

Polygon and Arbitrum bridges are followed by Optimism, Fantom, and the Near Rainbow bridge. The smart contract platform token market cap today is worth $281 billion and it has increased 1.4% during the last 24 hours.

The top five smart contract platform tokens today in terms of market capitalization include ethereum (ETH), bnb (BNB), cardano (ADA), solana (SOL), and polkadot (DOT). ADA, SOL, and DOT have seen losses between 3.4% and 6.8% over the last week. ETH and BNB have remained in the green during the last seven days, up between 0.3% to 0.8% this past week.

What do you think about the current state of decentralized finance and smart contract platform tokens? Let us know what you think about this subject in the comments section below.

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Today's Top Ethereum and Bitcoin Mining Devices Continue to Rake in Profits

As the crypto economy hovers just under $2 trillion in value, application-specific integrated circuit (ASIC) mining devices are making decent profits. While ASIC miners can still mine ethereum, a 1.5 gigahash (GH/s) Ethash mining device can rake in $51.58 per ... read more.

During the last 125 days or roughly four months, the total value locked (TVL) in decentralized finance (defi) has been range bound within the $50 billion to $65 billion region. The TVL in defi has shed significant value during the past six months as it dropped from $161 billion on April 1, down more than 67% lower to today’s $51.72 billion.

Defi action has subsided a great deal in terms of the total value locked during the last six months. On Saturday, October 22, 2022, the TVL in defi is around $51.72 billion, with the collateralized debt position (CDP) protocol Makerdao commanding 14.76% of the entire TVL with $7.64 billion on Saturday morning (ET).

In addition to Makerdao, Lido, Curve, Aave, and Uniswap make up the top five largest TVLs today. The liquid staking protocol Lido is just below Makerdao with a TVL of around $6 billion and $5,839,046,587 of Lido’s TVL is staked ethereum (ETH).

Makerdao recorded a 30-day increase in value as the TVL jumped 4.82% higher last month. Sushiswap saw a notable increase, rising 41.27% during the last 30 days, and the yield protocol Aura jumped 38.70% over the last month.

Out of all the blockchains today, Ethereum is the most dominant in terms of defi TVL with roughly 57% of the entire $51.72 billion locked in defi today. ETH has around $29.56 billion, while the second largest TVL by blockchain, Binance Smart Chain (BSC) has $5.32 billion or 10.33% of the aggregate value locked.

Besides ETH and BSC, Tron, Avalanche, Polygon, and Arbitrum follow behind, respectively, in terms of TVL by blockchain. Today, statistics show there are 607 decentralized exchange (dex) protocols with $21.57 billion locked.

There are 189 lending defi apps with $13.96 billion locked on Saturday and 57 CDP protocols command $10.37 billion. There’s also a total of 45 liquid staking applications that hold $7.91 billion in value today.

The value locked in cross-chain bridge platforms is also down 22% lower during the past 30 days. $7.80 billion is locked on decentralized cross-chain bridge platforms with 13,178 unique depositor addresses total.

Polygon is leading the bridge pack with roughly $3.37 billion TVL, but the TVL is down 6% during the past month. Arbitrum has around $1.44 billion which is down 2% lower than the month prior.

Polygon and Arbitrum bridges are followed by Optimism, Fantom, and the Near Rainbow bridge. The smart contract platform token market cap today is worth $281 billion and it has increased 1.4% during the last 24 hours.

The top five smart contract platform tokens today in terms of market capitalization include ethereum (ETH), bnb (BNB), cardano (ADA), solana (SOL), and polkadot (DOT). ADA, SOL, and DOT have seen losses between 3.4% and 6.8% over the last week. ETH and BNB have remained in the green during the last seven days, up between 0.3% to 0.8% this past week.

What do you think about the current state of decentralized finance and smart contract platform tokens? Let us know what you think about this subject in the comments section below.

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Today's Top Ethereum and Bitcoin Mining Devices Continue to Rake in Profits

As the crypto economy hovers just under $2 trillion in value, application-specific integrated circuit (ASIC) mining devices are making decent profits. While ASIC miners can still mine ethereum, a 1.5 gigahash (GH/s) Ethash mining device can rake in $51.58 per ... read more.

In mid-August, or 68 days ago, the market capitalization of the stablecoin BUSD was approximately $17.7 billion and since then, its grown 22.88% higher to today’s $21.78 billion. BUSD’s growth comes at a time when the market valuations of the top two stablecoins tether and usd coin have shed some excess weight.

Before the Terra stablecoin implosion, in mid-April 2022, the dollar-pegged economy looked a whole lot different than it does today. For instance, On April 11, Bitcoin.com News reported on the stablecoin market nearing the $200 billion mark for the first time in history.

That day on Monday, April 11, 2022, the stablecoin economy was worth approximately $190.1 billion, and today it’s worth roughly $146.81 billion. The slide downward all started after Terra’s UST depegging event in May, when Bitcoin.com News reported on the largest stablecoin asset tether (USDT) shedding $12 billion from its market cap.

In September, USDC started to see its market valuation deflate, losing $6.7 billion in 83 days. USDC’s market cap has reduced even more so during the last month, as roughly 12.2% has been erased in 30 days. Moreover, a few of the smaller stablecoin markets have slid well below the $0.99 to $1 parity on a few occasions in 2022.

Binance’s stablecoin issued in partnership with Paxos Trust Company, BUSD, has done the opposite, as the stablecoin has managed to increase by 22.88% or $4.05 billion higher since August 14, 2022. Since January 1, 2022, the stablecoin token backed 1:1 with U.S. dollars held in reserve, jumped 50.31% from $14.47 billion to today’s $21.78 billion.

BUSD is one of three stablecoins that happens to be situated in the top ten crypto market capitalization positions. At the time of writing, BUSD holds the seventh largest market valuation out of more than 13,000 listed crypto assets today.

Binance’s stablecoin BUSD, issued by Paxos, has published attestation reports issued monthly on the Paxos website. The attestations are written by the independent third-party accounting firm WithumSmith+Brown.

Three years ago, BUSD had a market cap just over the $440K mark on September 27, 2019. Since that day, BUSD’s market valuation has swelled by 4,946,036% in 1,120 days. For comparison, tether’s market cap jumped 1,823% and usd coin’s valuation jumped 10,177% in the same 1,120 days.

What do you think about BUSD’s growth while other stablecoins have shed excess weight in the last few months? Let us know what you think about this subject in the comments section below.

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Draft Law Regulating Aspects of Crypto Taxation Submitted to Russian Parliament

A bill updating Russia’s tax law to incorporate provisions pertaining to cryptocurrencies has been filed with the State Duma, the lower house of parliament. The legislation is tailored to regulate the taxation of sales and profits in the country’s market ... read more.

In mid-August, or 68 days ago, the market capitalization of the stablecoin BUSD was approximately $17.7 billion and since then, its grown 22.88% higher to today’s $21.78 billion. BUSD’s growth comes at a time when the market valuations of the top two stablecoins tether and usd coin have shed some excess weight.

Before the Terra stablecoin implosion, in mid-April 2022, the dollar-pegged economy looked a whole lot different than it does today. For instance, On April 11, Bitcoin.com News reported on the stablecoin market nearing the $200 billion mark for the first time in history.

That day on Monday, April 11, 2022, the stablecoin economy was worth approximately $190.1 billion, and today it’s worth roughly $146.81 billion. The slide downward all started after Terra’s UST depegging event in May, when Bitcoin.com News reported on the largest stablecoin asset tether (USDT) shedding $12 billion from its market cap.

In September, USDC started to see its market valuation deflate, losing $6.7 billion in 83 days. USDC’s market cap has reduced even more so during the last month, as roughly 12.2% has been erased in 30 days. Moreover, a few of the smaller stablecoin markets have slid well below the $0.99 to $1 parity on a few occasions in 2022.

Binance’s stablecoin issued in partnership with Paxos Trust Company, BUSD, has done the opposite, as the stablecoin has managed to increase by 22.88% or $4.05 billion higher since August 14, 2022. Since January 1, 2022, the stablecoin token backed 1:1 with U.S. dollars held in reserve, jumped 50.31% from $14.47 billion to today’s $21.78 billion.

BUSD is one of three stablecoins that happens to be situated in the top ten crypto market capitalization positions. At the time of writing, BUSD holds the seventh largest market valuation out of more than 13,000 listed crypto assets today.

Binance’s stablecoin BUSD, issued by Paxos, has published attestation reports issued monthly on the Paxos website. The attestations are written by the independent third-party accounting firm WithumSmith+Brown.

Three years ago, BUSD had a market cap just over the $440K mark on September 27, 2019. Since that day, BUSD’s market valuation has swelled by 4,946,036% in 1,120 days. For comparison, tether’s market cap jumped 1,823% and usd coin’s valuation jumped 10,177% in the same 1,120 days.

What do you think about BUSD’s growth while other stablecoins have shed excess weight in the last few months? Let us know what you think about this subject in the comments section below.

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Ripple CEO: SEC Lawsuit Over XRP 'Has Gone Exceedingly Well'

The CEO of Ripple Labs says that the lawsuit brought by the U.S. Securities and Exchange Commission (SEC) against him and his company over XRP "has gone exceedingly well." He stressed: "This case is important, not just for Ripple, it’s ... read more.

Bitcoin.com, a digital ecosystem and secure self-custody platform where users can safely and easily interact with cryptocurrencies and digital assets, has announced it is launching an NFT project tied to its rewards and utility token VERSE.

The Verse NFT collection will be limited in supply by the number of people who purchase VERSE in the Verse token sale, which starts on November 1 at getverse.com.

Bitcoin.com’s VERSE token will act as a powerful gateway to DeFi for millions of people,” said Bitcoin.com CEO Dennis Jarvis. “NFTs have so far played a similar role, bringing a whole new user base to crypto while fostering the creation of powerful communities. Integrating NFTs to the Bitcoin.com Verse ecosystem is important therefore not only for increasing the ecosystem’s reach, but also for galvanizing a resilient core community.”

Verse NFTs will have utility in the Bitcoin.com Verse ecosystem, such as providing access to exclusive products and services, discounts, and more.

Each successful purchase in the Verse token sale will entitle the buyer to a free mint of the Verse NFT from Bitcoin.com. Buyers who purchase greater amounts of VERSE will also be entitled to mint additional Verse NFTs.

“For many in the Bitcoin.com community, this will be their first NFT,” said Bitcoin.com’s Director of Product Experience Alex Knight. He added, “That’s why we’re working hard to ensure that not only is the minting process straightforward and safe, but also the integration of the NFT into the Bitcoin.com Verse ecosystem enhances user experience, providing a positive introduction to this powerful application of blockchain technology.”

The Verse NFT collection will be programmatically generated. It consists of space-themed characters whose features are randomly assembled from a wide range of options including accessories, body aesthetic, colors, backgrounds, expressions, and more.

The project is being advised by Evan Luza, co-founder of Cool Cats, a blue-chip NFT collection with over $370 million in lifetime trading volume.

Bitcoin.com is uniquely positioned with their large crypto centric audience to drive further adoption and awareness around NFTs and the innovative solutions and implications around them,” said Evan. “I look forward to advising not just on this collection, but also on Bitcoin.com’s wider NFT strategy including how NFTs can be integrated into the app.”

The Verse NFT collection will be minted on the Ethereum blockchain. Individuals who purchase VERSE in the token sale will have their Ethereum address whitelisted for both claiming the VERSE tokens they purchase and minting their Verse NFTs. Minting of Verse NFTs will be made available sometime after the completion of the Verse token sale.

About VERSE

VERSE is the rewards and utility token for the Bitcoin.com ecosystem, and the world’s gateway to DeFi. Strategic buyers purchased $33.6 million in a private sale of VERSE tokens in May. Registrations for the public sale, which is will start on November 1, are now underway at getverse.com

 

 

 

 

Since 2015, Bitcoin.com has been a global leader in introducing newcomers to crypto. Featuring accessible educational materials, timely and objective news, and intuitive self-custodial products, we make it easy for anyone to buy, spend, trade, invest, earn, and stay up-to-date on cryptocurrency and the future of finance.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Following a Brief Fee Spike, Gas Prices to Move Ethereum Drop 76% in 12 Days

Transaction fees on the Ethereum network are dropping again after average fees saw a brief spike on April 5 jumping to $43 per transfer. 12 days later, average ether fees are close to dropping below $10 per transaction and median-sized ... read more.

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