The developments in the cryptocurrency market continue unabated. In today’s article, we will talk about the latest partnerships in 8 altcoin projects and the price increases that have taken place in parallel with them. Here are the details…
VeChain announces partnership with OrionOne
VeChain has announced a partnership with OrionOne Inc to combine their technologies to promote the adoption of blockchain technologies among logistics companies. According to a recent announcement, the integration of Vechain and OrionOne technologies will allow the latter to offer logistics companies the opportunity to use blockchain in their businesses without investing in network infrastructure and digital currencies. The price of VeChain’s VET token increased by close to 10 percent after the announcement. It rose from $0.029 to $0.03.
Polygon will build a new web3 gaming platform
Polygon has announced a partnership with game publisher Neowiz to launch a new Web3 gaming platform called Intella X powered by the native IX token. Neowiz is a developer founded in 1997 and headquartered in South Korea. His creations include a wide variety of indie titles such as DJ MAX RESPECT V and Skul: The Hero Slayer. Polygon announced that contributors and users of the Intella X platform will have ownership rights and the opportunity to receive a share of the proceeds. At the time of writing, MATIC is changing hands at $0.93, up 5.21 percent.
FTX and Reddit establish altcoin partnership
Popular cryptocurrency exchange FTX has partnered with social media giant Reddit. Thus, it allows users to buy Ethereum (ETH) directly on its platform using FTX Pay, which allows traders to accept crypto and fiat payments. According to an announcement, Reddit’s Community Points will be integrated into FTX in various markets, including the US and European Union, and FTX Pay will be used as “a payment and exchange solution to support users using Community Points.”
The announcement details that Reddit Community Ratings are “a measure of reputation in user communities.” Points are displayed next to users’ names. The more community points a user has, the more they stand out from the crowd. As we have also reported as Kriptokoin.com, Reddit indirectly entered the crypto space with community scores in 2020.
Important collaboration from Paxos
PicPay, a Brazilian-based payment app, has announced that in its first foray into the crypto market, it will now allow its users to buy, sell and hold cryptocurrencies. Today PicPay launched its cryptocurrency exchange service, which initially supports USDP trading with Bitcoin and Ethereum. The exchange is operated in partnership with Paxos, a blockchain infrastructure company regulated by the New York Department of Financial Services. Paxos will manage the trading and holding of assets for PicPay. Paxos is also issuing USDP, a regulated stablecoin.
Acala and Astar Network step up DeFi efforts at Polkadot
Polkadot’s innovation hub Astar Network has announced a partnership with leading DeFi network Acala to power DeFi at Polkadot. Two leading parachains have teamed up to launch the “Astar x Acala DeFi Rising” program to unlock new opportunities and rewards for developers. Acala’s suite of flexible financial products serving the Polkadot network is crucial to the thriving dApps ecosystem in Astar.
The collaboration will allow developers to build on Astar’s vibrant DeFi ecosystem using Acala-specific assets such as aUSD, LDOT and ACA, and receive extra ACA and additional rewards from the various Astar ecosystem teams. At the time of writing, Astar (ASTR) is changing hands at $0.04, up 3%. Acala Token (ACA), on the other hand, gained 5% and is trading at $0.32.
Two popular altcoins – Klaytn and 1INCH came together
Renowned metaverse Blockchain Klaytn has partnered with 1inch Network, a popular decentralized finance (DeFi) protocol. The collaboration of both crypto entities comes after efforts to provide deeper liquidity to the South Korean Blockchain. Klaytn, which came together with 1inch, is expected to fulfill its expectation to benefit its users. At the time of writing, KLAY has gained 5% and is trading at $0.29. On the other hand, 1INCH gained close to 10 percent in value and is at $ 0.87.
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