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Will Polkadot (DOT) price reverse course now that cross-chain messaging is live?

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Will Polkadot (DOT) price reverse course now that cross-chain messaging is live?

Development within the Polkadot (DOT) ecosystem has been slowly unfolding over the past year and a half, and the work put in by developers is finally starting to bear fruit as parachain auctions finish and the first chains launch on the mainnet.

The next phase of interoperability within the ecosystem is set to kick off now that cross-chain functionality is about to go live. This next step will allow Polkadot-based parachains to communicate with each other and transfer assets between chains.

DOT/USDT 1-day chart. Source: TradingView

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Top 3 cryptocurrencies that are faring the best in the 2022 bear market

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Top 3 cryptocurrencies that are faring the best in the 2022 bear market

The crypto market has been in decline over the past six months with its valuation dropping from over $3 trillion in November 2021 to $1.23 trillion in May 2022.

Fears over persistently higher inflation, the Federal Reserve’s hawkish response to it, and the ongoing conflict between Ukraine and Russia prompted investors to limit their exposure to riskier assets. Also, their increasing appetite for the safe-havens, such as the U.S. dollar, weighed down demand for some of the top cryptocurrencies and U.S. equities.

XMR/USD weekly price chart. Source: TradingView
LEO/USD weekly price chart. Source: TradingView
BNB/USD weekly price chart. Source: TradingView

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Understanding Tether’s Peg and Reserves and How They Work

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Understanding Tether’s Peg and Reserves and How They Work

  • How to maintain Tether’s stability.
  • Tether’s reputation and transparency.
  • Financial reserves of Tether are solid, cautious, and liquid.

Given that Terra’s peg has fallen, it’s reasonable to wonder what prevents Tether (USDT) from following the same path.

USDT and Terra utilize distinct designs, mechanisms, and collateral. Terra was a computable stablecoin that wasn’t fully collateralized. It includes a variety of stability-inducing mechanisms, but they all failed in the end.

USDT is fully collateralized, with no credit risk. Each USDT can be exchanged for dollars through Tether, ensuring that when the price falls below $1, investors can acquire USDT at a discount and redeem them with Tether to make a profit.

During periods of high market volatility, the price of USDT might drop below or exceed $1. This does not imply that the peg has been broken. It indicates an increased level of liquidity than what is available on the order books of that exc …

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LTC Social Engagement Jumps 21% After MimbleWimble Activation

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LTC Social Engagement Jumps 21% After MimbleWimble Activation

  • The Litecoin community has recently approved the activation of the MimbleWimble protocol on the LTC mainnet.
  • This upgrade has led to a massive jump in overall Litecoin social engagement.
  • So far, Litecoin’s social engagement has increased by 21%, and even hit its highest point in the last three months.

The Litecoin community has recently approved the activation of the MimbleWimble protocol on the LTC mainnet.

MimbleWimble is a privacy-focused decentralized protocol that enables users to conceal transaction data with its confidentiality feature while providing a foundation for other blockchains to improve the usability of their token.

The Mimblewimble Extension Block (MWEB) hides three critical pieces of information: sender address, receiver address, and the amount of crypto sent.

With the Mimblewimble Extension Block, users can opt-in to confidential transactions. The goal of this is to enhance the visibility of Litecoin as a fungible currency that can be used for real-world transactions by lowering fees and adding privacy, throughput and scalability.

This upgrade has led to a massive jump in overall Litecoin social e …

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