May 17, 10:00 am
|Terra's Tendermint Touch — Cosmos-Based Token Economy Hit Hard by ...|
Since last week's Terra implosion and the demise of the blockchain project's native token LUNA - and the algorithmic stablecoin terrausd (UST) - crypto tokens based on the Cosmos ecosystem have seen significant losses. Two months ago, the top Cosmos ecosystem coins collectively were worth $61.6 billion and since then, the Cosmos economy has lost more than 75% in value, dropping to $15.2 billion.Terra's Fallout Stirs Cosmos Token Ecosystem
The blockchain project Terra is a Cosmos-based network, which leverages the consensus protocol Tendermint, the Cosmos SDK, and the Inter-Blockchain Communication protocol (IBC). Terra's network has a native token called LUNA and a suite of algorithmic fiat-pegged tokens such as terrausd (UST).
Last week, UST lost its $1 parity and after the de-pegging event, LUNA's value dropped well below a U.S. penny per unit. Terra's fallout not only rippled across the crypto economy, but it wreaked significant havoc across the Cosmos ecosystem tokens built with the open-source Tendermint protocol.
For instance, on March 7, 2022, all the Cosmos-based crypto assets combined were worth $61.6 billion. At the time, terra (LUNA) was changing hands on that day for $7...
April 23, 6:30 am
|Kadena Launches $100 Million Grant Fund to Develop Web3 Experiences|
Kadena, a proof-of-work-based cryptocurrency that also has the possibility of supporting smart contracts, has announced a new set of grants directed to incentivize the creation of Web3 experiences. This $100 million grant fund is part of the Kadena Eco initiative, whose objective is to offer builders a complete suite to deploy their solutions on to...
April 17, 7:00 pm
|Today's Top Ethereum and Bitcoin Mining Devices Continue to Rake in Prof...|
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 day in profits. SHA256 bitcoin miners that can process at speeds up to 110 terahash, can o...
March 11, 6:23 pm
|Biggest Movers: RUNE Rallies on Friday, With KDA Climbing Over 10%|
Despite mainly being in the red, there were a few notable big movers in crypto markets on Friday. Initially, STX was one of them, climbing by as much as 36%, before giving up all of these gains. However, RUNE and KDA managed to sustain gains.
Thorchain (RUNE) rose for the second time in the last three days, as it continues to move ...