Cloud Hosting

Crypto.news - PancakeSwap, a decentralized exchange (DEX), is launching on Base, an Ethereum(ETH) layer 2 scaling network incubated by Coinbase (NASDAQ:COIN), according to an update on Aug. 30.

Initially, this integration will offer PancakeSwaps swapping and liquidity provision functions. Following that, an upcoming release will introduce the farming feature, permitting users to stake liquidity provider (LP) tokens in exchange for PancakeSwaps native CAKE tokens. Importantly, users will retain their positions in the original LP tokens.

Base is now PancakeSwaps eighth platform, highlighting the DEXs multi-chain strategy.

While initially established on BNB Chain, the DEX has deployed on several blockchains, including Ethereum, Aptos (APT), Polygon (MATIC) zkEVM, and others.

Developed through a collaboration between OP Stack and Optimism(OP), Base seeks to address critical issues confronted by crypto users, such as steep gas fees and sluggish transaction speeds.

The layer-2 also aims to reduce fees and enable swift transactions.

After launching to the public on Aug. 9, Base has rapidly grown, trailing Arbitrum but surpassing Optimism in daily transactions. At this pace, PancakeSwap is the second-largest DEX after Uniswap.

Data from The Block

Fresh data shows that Base has over $300 million in total value locked (TVL) since launching in early August 2023.

This article was originally published on Crypto.news

Read market moving news with a personalized feed of stocks you care about.

Get The App

See the rest here:

PancakeSwap launches on Ethereum layer-2 solution, Base By ... - Investing.com

Source / Sam Cooling x ChantelleCeeCee

Ethereum Classic (ETC) has tumbled -7% in a dramatic rejection from severe resistance around the 20DMA, but as network activity slows - is Ethereum Classic going to zero?

The sudden fall comes amid a hard-fought resurgence for Ethereum Classic, which has been caught in a tumultuous downside slide since July 1.

Indeed, the Ethereum Classic network has seen a significant decline in activity since the last bull market in 2021 - with the number of active addresses falling to bear market levels.

And this comes as revelations emerge on Crypto Twitter suggesting that the Ethereum Classic network generated just $26 in fees over the past 24-hours - painting a bleak image of ecosystem growth.

Ethereum Classic remains reeling from the sudden decline, although steadfast support above $16 has caught the tumble with price currently trading at $16.00 (representing a 24-hour change of -0.06%).

The -7% drop comes after price shot-up +10.3% on August 30, in a major re-test of resistance from the 20DMA - which has suppressed upside price action for 48 days.

Despite the tumultuous rejection, support appears to be strong at $16 - this follows more than a week of consolidation at this key price level.

The 200DMA is still sat high above price action around $18.90, however, this is directly above a support level at $18.35 - forming an upside target for ETC.

Ethereum Classic's indicators provide some relief, with the RSI remaining cool at 43.49 - suggesting ETC is oversold at these levels.

While the MACD also showcases continued bullish divergence at 0.11 - further signalling that upside pressure remains.

With indicators leaning bullish, it seems Ethereum Classic will continue to consolidate and test the 20DMA.

To the upside, if Ethereum Classic bulls successfully crack resistance, then ETC has an upside target at $18.35 (a potential +14.33%), poised and ready to face resistance at the 200DMA.

While to the downside, rejection from this key level would likely see ETC fall back to $15 (a possible -6.54%).

Overall, this leaves Ethereum Classic with a risk: reward ratio of 2.19 - a good entry dependent on the 20DMA.

However, while ETC traders are stuck watching the 20DMA, smart money have been flooding into an emerging breakout meme coin presale which has already amassed $800k.

Sonik Coin ($SONIK), which is not only making waves in crypto markets, but also racing - with the audacious goal of exploding when the presale ends in just 5 days.

And given the current trajectory, this aspiration may soon be a reality - as this rockstar presale has surged to a jaw-dropping +$848,000 raised in less than a week.

But what has got markets so excited about the unlikely Sonik coin? The answer is in the APY - let's dig down into this further.

An intriguing 50% of the mammoth 300 billion $SONIK supply has been allocated for early investors, making it a limited-time golden opportunity.

With each token priced at a meager $0.000014, enthusiasts have the perfect entry point, especially before its much-anticipated debut on Uniswap post-presale.

This decentralized exchange is a powerhouse, and $SONIK's presence there will undoubtedly amplify its visibility manifold.

But Sonik Coin is more than just another meme coin, the staking APY of an astounding 91% speaks volumes about its potential returns.

Staking not only adds an avenue for passive income, but its inclusion also showcases the team's commitment to longevity and stability.

The idea? By staking, holders are encouraged to hold onto their tokens for more extended periods, thus mitigating volatile price swings and cementing a firm foundation for steady growth.

Now, lets talk about $PEPE, Pepecoin's astronomic growthdelivering jaw-dropping returns of over 10,000% to early backers has set a precedent.

Given $SONIKs innovative staking model and the infectious enthusiasm around its branding (a nod to the ever-popular Sonic the Hedgehog), it's poised for a similar, if not more impressive, trajectory.

The transparent, community-centric vision of the Sonik Coin's founders, paired with its tantalizing staking rewards and the buzz it has already generated, sets it apart in a sea of meme coins.

Check out the Sonik Telegram and Twitter here.

If history and market patterns tell us anything, the early bird catches the worm. Or in this case, rides the supersonic wave.

Buy Sonik Here

Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.

Go here to read the rest:

Is Ethereum Classic Going to Zero? ETC Price Drops 7% as This ... - Cryptonews

"I'm pretty disappointed with the way Ethereum has gone since its launch," said Vinay Gupta, founder of Mattereum and former coordinator of Ethereum's initial release, during Cointelegraph's AMA session. "The idea was that we could use blockchain to govern infrastructure in the real world. There was this idea that we could tokenize real-world assets and get these new efficient economies, just better use of capital globally to provide people with bare goods, bare services with less waste and inefficiency. But that didn't happen."

With Mattereum which focuses on asset tokenization Gupta wants to go back to Ethereum's roots and address the original problem. Were not inventing fractional ownership from scratch. Big publicly traded companies like IBM, Google or Meta offer similar options as stocks available to everyone.

What we're doing is using the efficiency of blockchain to apply this fractional ownership concept to much smaller things, much cheaper and lighter. This brings the benefits of fractional ownership governance down to the point where you can start dealing with individual cars, homes, or works of art, rather than at the scale of power grids, airplanes, or utilities that serve hundreds of millions of users every day on the Internet," Gupta said.

He identified unreadiness in regulation as one of the factors that led Ethereum to off-track, which became a priority for Mattereum to solve. "Working with lawyers and convincing them to support our cause proved to be a lengthy process. It took us four years to complete our first transaction and six years to reach a point of being able to securitize. As a result, it's now possible to legally gain control of almost any asset in most countries in a completely legal way. This means that we can go back to an earlier vision of Ethereum and fully implement it," he added.

In addition to explaining that tokenization can significantly reduce the time spent on legal and paperwork, Gupta shared his vision on the other benefits that it could bring to the world: 'Tokenization takes ultra-powerful tools from high finance and makes them accessible as a means of replacing massive mortgages and credit card debt. It changes the current debt-based relationships in society to an equity-based economy and the idea of "we own this thing, we cooperate together."

In this case, I expect a level of social transformation and revolution much greater than what happened with the invention of credit cards and debt. Moreover, co-owned societies are much more benign and friendly.

Regarding other possible changes due to blockchain mass adoption, Gupta envisions an economic democracy revolution and the integral role of DAOs in it. He anticipates DAOs to become as popular as social media platforms with governance geeks managing their portfolio. "I believe such a transformation is necessary and inevitable if we intend to democratize the world," he claimed.

Gupta views Mattereum as a backend powerhouse similar to how Amazon assisted in launching thousands of businesses worldwide. He elaborated: Anyone can bring a deal to Mattereum to examine the possibilities and limitations and then to secure and fractionalize it as Mattereum Asset Passports. So If any company with specific expertise wants to make assets transactionable or create companies with backend transactions, they can reach us.

Mattereum Asset Passports, which Gupta mentioned, are NFTs that prove the value of physical objects. They come with a built-in legal layer, providing a warranty claim mechanism that addresses liability. Gupta provided more details on Mattereums flagship Asset Passports: We put on chain with our customers legally binding promises from different third parties about the goods being sold. If any of those promises are inaccurate the third parties have to pay.

It's important to note that its the third parties who are providing risk management in the deal and bear the costs. Theyre putting up money which could be in on-chain escrow contracts to guarantee that the buyer will not be defrauded. Thats how we get trustworthy oracles to prove all the assets on chain are legitimate.

"I truly believe that moving from a debt-based economy to an asset-based economy and implementing a fully transparent financial infrastructure will solve many of the world's political problems," Gupta said, summing up the AMA session. It is still possible to implement Ethereum's original vision. However, it requires a massive bridge, which Mattereum can become. I envision Mattereum as a fundamental part of the financial infrastructure for the entire planet, much like Swift or Visa, he added.

Disclaimer. Cointelegraph does not endorse any content or product on this page. While we aim at providing you with all important information that we could obtain in this sponsored article, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor can this article be considered as investment advice.

Here is the original post:

Reshaping real world assets with tokenization and original ... - Cointelegraph