DeFi News Official Today TheBitTimes.com

Bitcoin's sharp recovery to $30,000 proves that bulls are buying BTC and altcoins at lower support levels. Bitcoin’s (BTC) rebound off $28,701 on Aug. 7 shows that lower levels continue to attract buyers. The recovery has kept the price stuck inside the range as traders await the start of a new trending move. A recent report by ARK Invest said that “Bitcoin’s volatility dropped to a 6-year low during July.”  Traders who expected a strong move in either direction have been disappointed by the ongoing range-bound action in August. If history repeats itself, then August and September may turn out to be washout months as their average moves have been 0.73% and -5.01% respectively. Daily cryptocurrency market performance. Source: Coin360 Although the short-term is uncertain, the long-term continues to look attractive. Galaxy Digital CEO Mike Novogratz, citing sources at BlackRock and Invesco, said that the first spot Bitcoin exchange-traded fund in the United States may be approved by ...

Flipkart Joins Hang By leveraging blockchain technology and Web3, FireDrops will redefine brand loyalty programs by involving the community and utilizing NFT s for rewards. This approach allows for easy ownership and redemption of rewards, creating new revenue streams for brands. The program also envisions the launch of a dynamic marketplace where users can buy and sell rewards, adding flexibility and value to loyalty programs. advertisement FireDrops 2.0 builds upon the success of previous pilots where users earned digital collectibles and membership passes through engaging actions. This latest iteration aims to deliver an even more immersive brand-first rewards experience. Users can sign up for the waitlist to gain early access and be among the first to experience the program. Naren Ravula, VP, Head of Product Strategy and Deployment at Flipkart, expressed the significance of this collaboration, stating, “By integrating web3 and NFT s into brand loyalty...

The public launch of Polygon ID comes 12 months after it was first launched in a closed-environment to a select group of builders. Polygon, a layer-2 scaling protocol for Ethereum, has launch ed a zero-knowledge decentralized Identity solutionto the public nearly a year after announcing its development. The Polygon ID service uses zero-knowledge proofs (ZK proofs) that use cryptographic techniques to allow users to verify their identity online without having their sensitive information passed or potentially stored with a third party. Polygon Labs publicly released Polygon ID on March 1, almost 12 months after the project was officially launched in a closed-source environment. The Polygon team says Polygon ID was built to “solve the issue of digital trust.” ZERO KNOWLEDGE IDENTITY FOR WEB3 The Polygon ID team is excited to announce 4 tools have been released in the #PolygonID Identity Infrastructure to build a more equitable internet that places identity at the center of it. The futu...

Polygon takes zero-knowledge rollups to the final testnet to gauge the performance of its zkEVM ahead of eventual mainnet integration. Ethereum layer-2 scaling protocol Polygon (MATIC) is carrying out performance testing of zero-knowledge rollup (zk rollups) technology ahead of full integration with its mainnet. The development of the technology, called Polygon zkEVM (Ethereum Virtual Machine), has been ongoing for over three years by the Polygon Hermez team. The team has already confirmed that zero-knowledge proofs are possible on Ethereum, by generating over 12,000 zk-proofs in a primary version of the zkEVM testnet. David Schwartz, project lead of Polygon zkEVM and PolygonID, unpacked the development of the functionality in correspondence with Cointelegraph. Layer-2 platforms have continued to evolve and improve functionality which has played a key role in driving Ethereum's scalability. As he explained, zero-knowledge rollups have increased the speed at which layer-2 platform...