At the time of publication, Bitcoin is trading at $59,224. Meanwhile, CryptoQuant noticed Ethereum’s massive exchange outflows in the past few days, which could signal the accumulation of ETH by institutions. These factors fueled Ethereum’s price to a new all-time high of $2,146.55, although it is now trading close to $2,099.
Let’s discuss some interesting crypto news in detail.
Harmony | Benchmark Protocol Expanding Cross-Chain Bridge With ONE Token Listing on Lending Platform
Harmony partnered with Benchmark Protocol to launch its ONE token on the p2p lending platform. The Benchmark Protocol strives to minimize the liquidation and hedge risk with the MARK token. The MARK token provides utility value and is the native asset of the Benchmark network. This integration helps to create Benchmark Marketplace on the Ethereum and Harmony blockchains. Further, this will provide developers and applications an alternative to use algorithmic rebase currency in their applications. In addition, this will help to expand the cross-chain capabilities through MARK token and Harmony Bridge. This would also give an opportunity to users to participate in other DeFi communities. Additionally, Benchmark Protocol will also launch ONE token on its p2p lending platform.
DAFI Protocol Teams up With DAO Maker to Enhance Staking & Network Incentives
DAFI Protocol partnered with DAO Maker to create synthetics for the DaoMaker ecosystem. This integration helps DAFi to deliver the striking features of its synthetic tokens to DAO Maker’s entire ecosystem. Further, DAO Maker would utilize DAFI’s synthetics, which will help them to reward users long-term. Besides this, it will result in avoiding inflation troubles and offer lucrative staking and liquidity incentives to the users. The DAO Maker provides advanced solutions in community growth, fundraising, and other growth-related techs. Hence, with this coalition, DeFi projects and other projects in the DAO Maker ecosystem can employ the DAFI Protocol. Additionally, the synthetic dTokens can be used for staking and liquidity incentive structures to avoid network inflation.
Orion Protocol Taps IOHK to Become First Liquidity Aggregator on Cardano Blockchain
Orion Protocol joined hands with IOHK to become the first liquidity aggregator on the Cardano blockchain. Moreover, Orion is a chain-agnostic protocol that provides more freedom to the users for transacting across the crypto space. To perform this, Orion would integrate multiple blockchains and exchanges in one platform. Collaboratively, the team will work to strengthen the DeFi and NFT space, enabling far greater interoperability, scalability, and sustainability. Cardano’s multi-layer protocol offers advanced functions and provides a control layer to run smart contracts. Hence, Cardano blockchain’s infrastructure will play an important role in the flagship product of Orion Terminal to Orion NFT Aggregator.
Injective Protocol | EasyFi Collaboration to Boost Lending of Synthetic Stock Futures
Injective Protocol announced the launch of its first decentralized synthetic lending stock future products. EasyFi is a Layer 2 lending protocol that aims for scalability, composability, and adoption of DeFi. It also facilitates end-to-end lending and borrowing of digital assets and similar financial products. With this amalgamation, Injective users will utilize exclusive synthetics to get access to innovative lending and yield farming events. Notably, apart from the purchase of stock futures, users can also lend out these to increase their earning potential. Besides this, the Injective ecosystem allows unlimited access to DeFi markets. Further, it has become the first protocol to launch synthetic stock futures for assets such as Tesla, Amazon, Twitter, and GameStop. Hence, EasyFi users will get the option to explore diversified markets of traditional or decentralized finance.
Ankr Join Hands With Covalent to Uplift Multi-Chain & Staking Reward Network
In the last bit of crypto news for today, we have Ankr collaborating with Covalent to strengthen the multi-chain and staking reward experience. Covalent is a Web3 data analytics firm that provides a uniform API for complete transparency and visibility of assets across blockchain networks. With this integration, Covalent would utilize Ankr’s infrastructure services to boost its distributed network. Ankr provides some of the best-in-class infrastructures. Hence, it will scale Covalent’s products such as cryptocurrency and multi-chain wallets. In addition, Ankr will strengthen the Covalent network by running its own Covalent validator node. In turn, this will help investors to stake their $CQT tokens and earn staking rewards securely. Additionally, this will also enhance the dApps and wallets using Ankr with multi-chain functionality and APIs.
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