Tether, the operator of the most liquid and widely-used stablecoin USDT, has announced the launch of its dollar-pegged digital currency on Kusama, a “canary network” of Polkadot. As of Wednesday, USDT is available on ten different blockchain platforms, including Ethereum, TRON, Algorand, and EOS, to name a few.
Astar Network (formerly known as Plasm Network) has won the third Polkadot parachain slot in last week’s parachain auction. The multichain smart contract hub supporting Ethereum VM, WebAssembly, and Layer 2 raised over 10 million DOT, worth $274 million at corresponding market rates.
After years of anticipation, the first batch of parachains auctions was successfully completed on Thursday. The first-ever parachain auction slot winner with 32M DOT staked is Acala, popular decentralized finance (DeFi) hub for Polkadot. Acala came out ahead in a neck and neck race with multi-chain protocol Moonbean.
Ever since Polkadot’s parachain auction schedule got approved in mid-October, the price of DOT has been on the upward trend. Earlier today, DOT managed to break its previous all-time high set in May and reached a historic high above $53.
After Wednesday’s successful vote on a proposal to schedule the first set of parachain auctions, the price of Polkadot’s native DOT token has experienced a sharp price increase and has gained more than 20% in the span of four hours. Parachain auctions were first outlined in the project’s white paper five years ago, and now they are finally ready for launch.
Another week filled with red numbers has brought the total cryptocurrency market capitalization back down to $1.50 trillion, before it climbed back up to $1.62 trillion in the last few Sunday hours. While Bitcoin ended week 23 with an 8% gain over last 7 days, quite a few altcoins from the top 50 cryptocurrencies posted 10% or even greater loses. As a natural consequence of that, BTC dominance is on the rise again. However, altcoins are known to be even more volatile and risky, than the industry’s leading cryptocurrency but when the market trend switches, altcoins are usually the ones that rebound higher. Therefore, we are betting on these three promising altcoins this week.
Since it was founded in 2017, Web3 Foundation has firmly believed in an internet where individuals own their own data, not corporations. With this goal in mind, the Zug-based foundation has nurtured cutting-edge applications for decentralized web software protocols using modern cryptographic methods.