Coins.ph Celebrates 10th Anniversary with USDC Rewards Program
In celebration of its 10th anniversary, Coins.ph has introduced a special promotion offering users 10% rewards on USDC stablecoins through its HODL and Earn program throughout February. Users who maintain a designated balance of USDC in their wallets are eligible to earn additional USDC tokens as rewards. This initiative not only commemorates Coins.ph's decade-long journey but also aims to incentivize the adoption of stablecoins and encourage users to explore digital asset management within the Philippines' evolving financial landscape. (BitPinas)
Crypto Fear & Greed Index Reaches Highest Level Since Bitcoin's 2021 Record High
The Crypto Fear & Greed Index has soared to its highest point since Bitcoin's historic highs in 2021, reflecting a surge in market optimism and investor sentiment. This spike coincides with a flurry of positive developments in the cryptocurrency space, including increased institutional interest and favorable regulatory developments. However, experts caution that such heightened levels of greed could foreshadow a market correction, urging investors to remain vigilant and exercise caution amidst the euphoria. (CoinDesk)
BSP Affirms CBDC Plans Excluding Blockchain Implementation
The Bangko Sentral ng Pilipinas (BSP) has clarified that its plans for a Central Bank Digital Currency (CBDC) will not utilize blockchain technology. BSP Deputy Governor Diwa Guinigundo emphasized that while the CBDC project is still in the research stage, it will not be based on blockchain due to scalability concerns. Instead, the BSP aims to explore other innovative technologies that can efficiently support digital currency issuance and circulation in the Philippines. (BitPinas)
Ethereum Gas Fees Surge to 8-Month High Amid ERC-404 Craze
Ethereum gas fees have skyrocketed to an 8-month peak, driven by a surge in transactions associated with the ERC-404 standard, which is causing congestion on the network. The rise in gas fees is primarily attributed to the popularity of NFTs and DeFi protocols utilizing the ERC-404 standard, leading to increased competition for block space and driving up transaction costs. This surge underscores the ongoing scalability challenges facing Ethereum as it struggles to handle the growing demand for decentralized applications and digital assets. (Cointelegraph)
Uniswap V2 Nears Decision on Cross-Chain Expansion Beyond Ethereum
Uniswap V2, a prominent decentralized exchange (DEX) protocol, is on the verge of a crucial vote to determine whether it will expand its operations beyond the Ethereum blockchain. The proposal, up for final consideration, seeks to enable Uniswap to operate on additional blockchain networks, potentially enhancing liquidity and user accessibility. If the proposal passes, Uniswap's expansion into a multi-chain ecosystem could signify a pivotal moment in its development opening new avenues for growth and innovation within the decentralized finance (DeFi) space. (DL News)
Cryptocurrency Market Cap Surpasses $2 Trillion, Signaling Industry Milestone
In a historic development, the collective market capitalization of cryptocurrencies has surged past the $2 trillion mark. Bitcoin's dominance remains a key player in this growth trajectory, while altcoins have significantly contributed to the market's expansion with notable gains. This milestone underscores the resilience and maturation of the cryptocurrency industry, fueled by heightened institutional participation, growing retail investment, and a broadening array of use cases and applications within the ecosystem. (BeInCrypto)
Franklin Templeton Plans Ethereum ETF Amid Crypto Investment Surge
Franklin Templeton, a global investment management firm, is reportedly planning to launch an Ethereum exchange-traded fund (ETF). The proposed ETF would offer investors exposure to Ethereum, the second-largest cryptocurrency by market capitalization, further expanding the range of crypto investment options in traditional financial markets. This move signals growing institutional interest in Ethereum and reflects a broader trend of increasing adoption of cryptocurrencies within the investment landscape. (Blockworks)
Avalanche Introduces Durango Upgrade for Trustless Communication Across EVM Chains
Avalanche has launched the Durango upgrade to enhance interoperability among Ethereum Virtual Machine (EVM) chains, allowing trustless communication between them. This upgrade introduces the X-Chain Contract Call functionality, enabling seamless interaction between different chains without the need for intermediaries or additional trust. With Durango, Avalanche aims to foster greater decentralization and efficiency within the EVM ecosystem, facilitating smoother cross-chain transactions and communication. (Crypto Briefing)
