In the world of crypto money, many altcoins, especially SUI, attracted attention for 2023. Investors and traders have closely followed developments in cryptocurrencies. Now we will share with you the recent developments in some altcoins.
Altcoin SUI ends partnership with MoveEX
The Sui Foundation, the nonprofit behind Sui Network, made an important announcement today. Accordingly, it terminated its partnership with MovEX, a decentralized exchange (DEX) and liquidity management platform, following the breach of a lockdown agreement.
According to a blog post by the Sui Foundation, MovEX moved some altcoin SUI tokens that are subject to a contractual lockdown without informing or obtaining approval from the organization. On the other hand, this situation received backlash from the crypto community. Accordingly, the community filed false allegations of emissions.
Developments in the cryptocurrency KIN
The Kin community has accepted the proposal to burn the 7 trillion supply. The total supply of Kin token is 10 trillion units. Burning 7 trillion tokens means that 70% of the total supply is withdrawn from the market.
Behind this development, there was an important development in the price of altcoin KIN. Accordingly, there was an increase in the price of approximately 30%. The KIN price settled close to $0.000030 after the bid. Accordingly, the rise took place at the level of 68% on a weekly basis.
Altcoin Pancake expands its user base
Altcoin PancakeSwap was first launched on BNB Chain. However, it is currently available on five blockchains. The ZkSync Era blockchain is the latest DEX available. This move aims to expand PancakeSwap’s user base and increase protocol revenue.
An important step came from the decentralized exchange PancakeSwap (CAKE). Accordingly, there is a statement made on Thursday by “Chef Cocoa”, the creator of DEX. Accordingly, DEX is now available on the zkSync Era blockchain. This is an important milestone for DEX. However, it should be noted that the development did not have a significant impact on the cryptocurrency altcoin CAKE. CAKE is up just 0.53% today.
Integrated news from OKX’s Web3 wallet
The DeFi division of OKX Web3 wallet has officially integrated Uniswap V3 and similar V3 protocols. Accordingly, it became the first Web3 wallet to integrate V3 type protocols on mobile devices. The integration allows for more intuitive comparison of V3 investment products. On the other hand, it allows users to find suitable assets for investment with one click. It also enables it to reduce election costs and increase LP funding efficiency.
In addition, the OKX Web3 wallet will dynamically suggest market creation ranges based on coin price fluctuations. It will also automatically backtest users’ daily earnings after customizing the price ranges and investment amounts of the users. On the other hand, it will provide real-time anomaly alerts.
Huge move from Fireblocks and Primer Network
Fireblocks’ integration with Astar Network will bring cryptocurrencies and DeFi to over 650 banks. Institutional investors in banks, exchanges, OTCs and hedge funds will leverage Fireblocks’ technology to easily and securely access crypto on Astar.
More than 200 guests attended the event, which was held to celebrate the integration, including executives from VCs and Web3 founders.
Account abstraction of altcoin Ethereum explained
The account abstraction approach of the altcoin Ethereum (ETH) has been explained. Accordingly, the approach uses smart contract wallets to manage users’ account activities and blockchain transactions. It also hides the complex processes of blockchain interaction. It also makes web3 applications easier for users.
Blockchain technology has long promised a decentralized future. But its notoriously complex inner workings severely hindered widespread mainstream adoption. Now, altcoin Ethereum developers are leveraging a feature called “account abstraction” to completely simplify and streamline blockchain interactions for everyday users.
Partnership statement from Hooked Protocol
Web3 social network Hooked Protocol has announced that it has partnered with DID solution provider Lifeform. This partnership will revolutionize user experiences and drive significant adoption of Web3 technologies.
👉Partnering with @Lifeformcc as our ecosystem partner, a pioneering decentralized digital identity solution provider!
Hooked’s infra solutions & Web3 edutainment expertise + Lifeform’s innovative visual DID solution = revolution of user experiences & substantial… pic.twitter.com/cTjaJBaK35
— Hooked Protocol🪝 (@HookedProtocol) July 28, 2023
The two parties will combine platform advantages to provide users with a better user experience and promote Web3 technology adoption.
New move from Alchemy Pay
Alchemy Pay has integrated Checkout.com’s Visa and Mastercard channels into its deposit and withdrawal schedule. This news is a particularly growth-oriented move.
In the crypto money field, especially Visa and Mastercard-oriented moves attract attention. That’s why Alchemy Pay’s latest move also provides an opportunity for the project to grow.
Altcoin Immutable (IMX) price up 15%
Immutable X (IMX), a Layer 2 scaling solution on the Ethereum blockchain, has experienced a significant price increase. The price was up 15% to $0.79. There is also a significant increase in transaction volume. In addition, the price of the cryptocurrency increased by 18%.
The reason behind this rise is the South Korea-based Upbit exchange. The stock market made an important announcement. Accordingly, the exchange announced that it will list Altcoin IMX on the Korean Won market. The trade that will start today has inevitably served as fuel for altcoin IMX. It should be noted that Immutable X, which offers APIs and game creation tools for NFT and Web3 games, specializes in NFT printing and trading.
Famous lawyer withdraws from XRP case
XRP attorney Lisa R. Zornberg has withdrawn from the Ripple-SEC lawsuit. There is a different situation in the recent development in the Ripple case with the US Securities and Exchange Commission (SEC).
When we look at Kriptokoin.com, the popular lawyer of Ripple Labs and CEO Brad Garlinghouse demanded that the court withdraw from the case. Following Judge Analisa Torres’ landmark decision in the case, Magistrate Sarah Netburn sought a settlement from Ripple and the US SEC on other parts of the case.
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