After making an all-time high of $49,531.65, Bitcoin underwent a sharp correction and is now trading at $47,611. Meanwhile, the second-largest cryptocurrency, Ethereum, is trading close to $1,763.
Additionally, over $1.89 billion worth of futures positions were liquidated when Bitcoin fell below $48,000. Moreover, most of the liquidations accounted for Bitcoin and Ethereum. Besides this, some altcoins also got a major double-figure correction. The next immediate support for Bitcoin is a little over $44,000. If Bitcoin consolidates at the present range, then we can see a price surge in top altcoins.
Let’s find out some interesting crypto news for today.
DIA | Polygon (Previously Matic) Partnership To Boost Matic DeFi Ecosystem
DIA partnered with Polygon (previously Matic) to provide transparent and community-verified price oracles on the Matic ecosystem. Together, the team will work on payment applications, on-chain deals for gaming applications, and optimize the execution of DEX trades. Moreover, DIA will also boost the application development of the Matic ecosystem. Apart from this, DIA’s grant and acceleration program for the DeFi data ecosystem will back Matic developers in the Build-n-Earn program. This program serves the development of dApps with DIA data feeds and supports developers with a predictable cash flow.
Qtum Planning To Lock $20 Million Worth of Tokens To Expand DeFi Initiatives
Qtum announced it will lock $20 million worth of Qtum tokens. According to the tweet, Qtum has worked with blockchain exchange Gate.io to lock these tokens. Moreover, these tokens are wrapped to spur the DeFi opportunities on numerous Ethereum decentralized exchanges. Additionally, Gate.io will help users to swap QTUM coins to wrapped QTUM (wQTUM) tokens to employ in the Ethereum DeFi ecosystem. In addition, users will be able to do liquidity mining with wQTUM on the ZKS (Zero-Knowledge Swaps) DEX starting from February 15, 2021.
ARCStake | Disruptive Digital Teams up With Elrond Ecosystem as Staking Providers
ARCStake and Disruptive Digital joined the Elrond ecosystem as node operators. Jointly, the team will develop tools and applications for the Elrond ecosystem. The ARCStake is geared up by the ARC Soft development team. This team is working on the implementation of the Zabbix plugin on the Elrond wallet to monitor Elrond nodes. However, Disruptive Digital is a group of blockchain enthusiasts who worked on an inventive secret phrase backup mechanism called KryptoDots that is compatible with Elrond. Collectively, the team will further expand the infrastructure and services of non-technical supporters for the Elrond ecosystem.
Swipe Releases New Roadmap With Wallet Upgrade and DeFi Integrations
Swipe announced their roadmap with enhancements for SXP on-chain and for the Swipe wallet app. According to the tweet, the team has plans to upgrade the Swipe wallet to make it a non-custodial digital wallet where users can control their keys and funds. Moreover, a custodial card wallet will be introduced in the app through which users can add crypto funds and use them with real-time conversions. In addition, users can also earn liquidity provider (LP) tokens which will be used to farm other digital assets, including SXP from transaction fees. Additionally, the team is also working on the expansion of crypto-fiat offerings.
Venus Protocol: Binance Smart Chain Operated Platform Releases Roadmap for 2021
In our last bit of crypto news, Venus Protocol, the stablecoin platform that operates on Binance Smart Chain, released its roadmap for 2021. As per the tweet, the team is working on a lot of enhancements, such as Venus origination fees, increased collateral factors, and more. Moreover, the team is planning to allow users to use their vXVS tokens to be involved in governance votes. Additionally, the project is working on the Venus DEX and on a reward program to airdrop Venus Reward Tokens (VRT) to the XVS holders. Furthermore, they also have plans to launch a fixed-rate lending system where both the supplier and borrower can calculate their earnings and how much they will pay in interest.
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