Top Crypto News: 05/31 – Cryptocurrency News

The cryptocurrency market witnessed a fall in the prices of popular coins, courtesy of its high volatility over the weekend. Bitcoin plummeted sharply to $33,425 on Saturday before witnessing a recovery on Sunday. But it soon fell down again and was trading at $34,000 this morning. It has since rebounded to $37,176.

Let’s find out some interesting crypto news for today.

1 – Bitcoin Market: Battleground Between the Bulls and the Bears

The Bitcoin market has recently been grasped by supply trends. It is witnessing the distribution of bitcoins by short-term holders. On the other hand, long-term holders and miners are accumulating them. This is very important data that can help decide where the market is heading towards.

2 – Polygon’s Integration With Nsure Network

Nsure Network’s risk marketplace has announced its integration with Polygon (previously Matic). They’ve completed the first step towards it, wherein they have currently deployed the risk marketplace on the Mumbai Network. Moreover, Nsure Network have also released steps on how to interact directly with the contracts. The first step involves adding custom RPC configuration for the Mumbai testnet.

The second step involves requesting MATIC Test Token (for Mumbai Network) on https://faucet.matic.network/. Furthermore, the final step involves interacting and calling contracts via Remix, Truffle, or Hardhat.

Polygon is an easy-to-use platform for Ethereum scaling and infrastructure development. Nsure Network, on the other hand, is an open insurance platform for Open Finance. Its risk marketplace gives users access to buy insurance policies and aids in capital mining and underwriting.

3 – KwikSwap Becomes the First Project to Be Built on Reef Chain

KwikSwap has entered into the growing ecosystem of Reef Finance. By being built on the Reef Chain, it will utilize Reef Chain’s higher throughputs and scalability. As Reef Chain is self-upgradable and features Polkadot’s shared security model, its collaboration with KwikSwap would hugely benefit the users. They would be able to trade assets at super-fast speeds with near-zero gas fees. KwikSwap’s Token Exchange on the Reef Chain would feature non-custodial wallet integration via Web3, staking rewards for holders of KWIK tokens, and market creation abilities to all end-users.

In addition to this, KwikSwap has also received a grant from the Reef Developer Program. KwikSwap protocol aims to provide developers, traders, and liquidity providers a decentralized financial marketplace. Reef Finance, on the other hand, offers a smart liquidity aggregator, borrowing, staking, smart lending, and mining through an AI-driven engine.

4 – Lossless’s Initial Startup Offering Is Live on Gate.io

Lossless has announced its Initial Startup Offering on Gate.io. The startup supply is of 649,350.6 LSS, and the price is $0.077. The lockup currency would be DAO, where the eligible participants have to agree to a lockup period of 15 days. The participants would get a proportional amount of LSS tokens with respect to their share of DAO tokens locked up on Gate.io.

In addition to this, Lossless announced that their SHO has been concluded, which took place on Dao Maker. Lossless is the first DeFi hack mitigation tool for token creators. On the basis of some parameters which detect frauds, it freezes fraudulent transactions and returns the stolen funds to the owner’s account.

5 – Open Emoji Battler Launches First Airdrop on Subsocial Chain

In the last bit of our crypto news for today, we have Open Emoji Battler announcing its first airdrop and giveaway on Subsocial Chain. Furthermore, in this event, participants can claim preEMOs through a gameplay airdrop or through Twitter giveaways.  RMRK users and Unique Network users can claim their preEMOs through an RMRK airdrop and Unique airdrop, respectively. These preEMOs will be converted into EMO NFTs in the future. The event will conclude on June 12, 00:00 UTC.

Moreover, Open Chain Battler is the first playable game in the Polkadot ecosystem which uses the Susbstrate blockchain framework.

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This news is republished from another source. You can check the original article here

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