Kylin network wins parachain auction 25 on Polkadot

Kylin network (KYL) has emerged winner of the latest parachain auction 25 on Polkadot (DOT). According to a blog post, the data management platform said the win represents a “significant milestone in its journey to build the data framework for all web3 middleware.” Kylin became the third project to reach the max bid cap of 150,000…

Over 8K Solana wallets drained of $580M by hackers

Over 8000 Solana (SOL) wallets were drained of around $580 million by an exploit that started in the late hours of August 2. So far more than 8000 wallets and ~$580M were stolen by the following 4 addresses. Htp9MGP8Tig923ZFY7Qf2zzbMUmYneFRAhSp7vSg4wxVCEzN7mqP9xoxn2HdyW6fjEJ73t7qaX9Rp2zyS6hb3iEu5WwBYgQG6BdErM2nNNyUmQXfcUnB68b6kesxBywh1J3nGeEccGJ9BEzVbVor1njkBCCiqXJbXVeDHaXDCrBDbmuy pic.twitter.com/N7wJlCOi8p — MistTrack🕵️ (@MistTrack_io) August 3, 2022 However, Peckshield noted that the total loss is estimated…

Bitcoin, Ethereum shed gains before looming Fed interest rate hike

With the Federal Reserve expected to raise the interest rate by at least 75 basis points on July 27, the crypto market cap has shed roughly 4% as the value of Bitcoin (BTC), Ethereum (ETH), and other crypto assets have dropped in the last 24 hours. Coinglass data showed that over $150 million in positions…

Avalanche’s new proposal wants ApeCoin on its subnet

👋 Want to work with us? CryptoSlate is hiring for a handful of positions! Avalanche is seeking to be the new home for ApeCoin DAO’s APE token and its Otherside metaverse project, according to a proposal submitted by the L1 blockchain platform. Per the proposal, the Otherside metaverse project should be launched on an Avalanche…

Avalanche founder claims only one algorithmic stablecoin can succeed – defends Terra’s UST

The founder of Ava Labs, Emin Gün Sirer, has offered his opinions on the crash of Terra’s algorithmic stablecoin, UST.  According to Gün Sirer, there is a need for decentralized algorithmic stablecoins in the ecosystem due to the censorship vulnerability of fiat-backed stablecoins. Even fully-collateralized fiat stablecoins have depegged. Even some of the weak algo stablecoins…

AVAX developer Ava Labs looking to raise $350M in new funding round

Ava Labs Inc., the lead developer behind the Avalanche (AVAX) blockchain, is looking to raise $350 million in a funding round at a $5.25 billion valuation, Bloomberg News reported, citing people familiar with the ongoing discussions. If closed, the deal would make Ava Labs one of the world’s most valuable crypto projects. Avalanche is an…

ZooKeeper dApp to Launch on Avalanche

Press Release: Yield-farming dApp ZooKeeper is launching on Avalanche on the 3rd of April, enabling users to take advantage of both networks by cross-chain transferring their $ZOO tokens, and ZooNFTs.  4th April 2022, GENEVA, Switzerland — ZooKeeper is delighted to announce that its dApp is officially coming to the Avalanche network. ZooKeeper is the popular…

Polkadot, Kusama to launch Wormhole bridge to Ethereum, Solana

Announced Wednesday in a blog post by Dan Reecer Chief Growth Officer at Acala and Karura, the two Polkadot protocols will integrate with Wormhole, the multi-chain bridging platform connecting blockchain networks. “As the first EVM+ integration on both Karura and Acala, this cross-chain interoperability will enable Acala and Karura users to enjoy asset integrations and…

Bitcoin at $44.9k as ETFs touch new highs, altcoins continue green rampage

After enduring a rocky start to the year, Bitcoin’s price in recent weeks has made a startling resurgence which has culminated in the value of the asset reaching as high as $44.9k in the early trading hours of today. Since the asset climbed above the $40k level around last week, it has steadily maintained the…