Base-money protocol Ampleforth announced the launch of a new governance token Wednesday, setting the stage for further expansion and community engagement following a successful year of adoption. The project said that the FORTH token is meant to serve as the basis of Ampleforth’s evolution, with more than 75,000 users set to become founding members of the governing body. Holding FORTH tokens will entitle users to propose and vote on changes to Ampleforth’s protocol. A total of 15 million governance tokens will be available to claim over the next year. Regarding the tokenomics of FORTH, Ampleforth said: “A perpetual inflation rate …

Leading decentralized exchange Uniswap has taken a step closer to launching its highly anticipated “V3” iteration, announcing the successful deployment of V3’s smart contracts to all Ethereum test networks. In an April 21 announcement, Uniswap Labs confirmed that the protocol’s V3 core and periphery smart contracts have been deployed to all major Ethereum testnets — Ropsten, Rinkeby, Kovan, and Goerli. The testnet addresses were posted to Github, with Uniswap reminding users that the addresses are not final and will be changed as the team makes final updates to the periphery repository. Version three’s core contracts have also been deployed to …

Uniswap’s decentralized exchange set a new weekly volume record on Tuesday, with cumulative transactions exceeding $10 billion amid the ongoing decentralized finance boom. CEO Hayden Adams tweeted the milestone on Tuesday with an accompanying chart showing a 25.7% weekly increase in volumes. If Uniswap manages to maintain its current pace, it will process over $500 billion worth of transactions in a year. @Uniswap weekly trading volume just passed $10b for the first time!!! $10b/week is over $0.5 trillion per year pic.twitter.com/ZibcDT9Zob — Hayden Adams (@haydenzadams) April 20, 2021 Uniswap’s 24-hour trade volumes are estimated to be around $1.9 billion, according …

During strong uptrends, the best practice is to buy on significant dips as profits are produced when the price quickly rebounds from oversold conditions. This appears to be what happened on April 18 as traders jumped at the opportunity to buy Bitcoin and altcoins at lower levels. However, no market can keep going up in a straight line and periodic corrections and phases of consolidation are needed as they drive away the speculators who only jump in and use high leverage when they sense an opportunity to get rich quickly. The sharp rise in Dogecoin’s (DOGE) price and the huge …

Dogecoin’s (DOGE) massive rally to $0.45 propelled it to a market capitalization of over $54 billion to make it the fifth most valuable cryptocurrency by market cap. This lofty market cap comes as a surprise to many since the project has no active developers and is only a meme coin, thus the current rally brings back memories of the excesses seen during the ICO boom in 2017. Rallies like the one seen in Dogecoin indicate that several traders have entered the fray and are looking to get rich overnight. The only positive sign is that the mania has not spread …

Coinbase (COIN) listing on Nasdaq could eventually boost cryptocurrency adoption and attract droves of institutional investors. However, that is unlikely to happen immediately. In the first few days after the listing, volatility could be high as Wall Street tries to value Coinbase. This could also increase the volatility in cryptocurrencies. Sharp movements in the price of Bitcoin (BTC) could also result in liquidations of leveraged positions in the derivatives market. The massive $27 billion in Bitcoin futures open interest and $8 billion in Ether (ETH) futures open interest indicate that a spike in volatility could chop several traders. PlanB, the …

A decentralized platform allows investors to gain access to well-balanced baskets of digital assets that serve as an effective store of value. Digital Reserve offers several portfolios — the construction of which are based on votes from community members. The project says no single entity or person is in control, as users interact directly with smart contracts. The first portfolio is geared toward capital appreciation. While 40% is allocated to Wrapped Bitcoin, 40% is also dedicated to PAX Gold, an asset-backed token that is pegged to a troy ounce of the precious metal. The remaining 20% is allocated to Wrapped …

Bloomberg Intelligence senior commodity strategist Mike McGlone equated the current consolidation in Bitcoin (BTC) price to that of a “caged bull, well-rested to escape.” When compared with the rallies a year after the previous two Bitcoin halvings in 2012 and 2016, the strategist called the current price action “tame.’ According to McGlone, Bitcoin is “still in price-discovery mode” and its plateau is still far away. While Bitcoin remains in focus, altcoins have continued to steal the show. Bitcoin’s market dominance, which stood closer to 70% on Jan. 4 has continued to slide even though its price has risen more than …

Hong Kong tech company Meitu revealed on April 8 that it had added $10 million worth of Bitcoin (BTC) to its holdings which were purchased at an average rate of $57,000 per coin. After the latest purchase, Meitu’s total cryptocurrency portfolio consists of $49.5 million worth of Bitcoin and $50.5 million worth of Ether (ETH). This acquisition shows that institutional investors are confident that the rally in Bitcoin is still in its early stages. Tom Jessop, Fidelity’s head of the crypto division, believes that Bitcoin has reached a tipping point and that traditional finance companies will continue to adopt cryptocurrency …

Covalent’s latest findings in Cointelegraph Consulting’s biweekly newsletter investigates the anatomy of Ether (ETH) whales. The data indicates that the top 10 ETH-only whales consistently hold roughly 5 million ETH, with the largest whale accumulating more than 25% of the capital. The wallet address of the largest Ethereum whale, much like the other seven whales in the ranking, is relatively young as they only started buying in 2019. Apart from the amount of Ethereum that the whales hold, another defining characteristic of the group is its investment behavior pattern: It goes long on its assets and, probably, on the ecosystem …

A platform that vows to make cryptocurrency and decentralized finance trading available to the masses is gearing up to launch its decentralized autonomous organization. Mute says that Voice Control is the first DAO to boast a dual-token system. The project aims to ensure that it is as simple as possible for enthusiasts with varying degrees of technical understanding to get involved — and this is being achieved through simple language and a visually unique decentralized application. Voice Control enables members to have their say — or delegate their votes to a trusted community member. This distinctive configuration helps ensure the …

According to CoinShares, the institutional inflow into crypto products hit $4.5 billion in Q1, which is 11% higher than the intake seen in Q4 2020. This shows that institutional interest is on the rise but the quarter-on-quarter growth has slowed down from the 240% recorded in Q4 2020. As Bitcoin price moves higher, more funds are needed to sustain the levels. Therefore, if institutional inflows do not pick up in the next few days, Bitcoin (BTC) and other altcoins could witness a major correction. The next correction could test the resolve of institutional investors and even though these investors have …