After undergoing a sharp correction, Bitcoin hit $55,988 and is now trading at $56,464. Meanwhile, the second-largest cryptocurrency, Ethereum, has dipped below the $2,000 region and is trading close to $1,994.
Let’s find out some interesting crypto news in detail.
Fuse Network announced the launch of a two-way bridge with Binance Smart Chain (BSC). As per the press release, this bridge would increase interoperability and reduce Ethereum’s high gas fee issues. Further, this bridge allows users to move any ERC-20 token from Fuse Network to Binance Smart Chain and vice versa. Notably, only wrapped Ether (WETH) bridging is available. However, the team has plans to increase more tokens, including the native Fuse Token (FUSE), to bridge between both networks in the near future.
The blockchain-based sports token platform, Chiliz, got investment from a proprietary trading firm, Jump Trading. The Chicago-based proprietary trading firm was established 20 years ago. This firm specializes in algorithmic and high-frequency trading strategies. As per CEO Alexandre Dreyfus, this engagement would help to expand the adoption of Chiliz tokens in diversified markets. Recently, some of the biggest teams launched their fan tokens on the Chiliz blockchain, such as Manchester City, Barcelona, and AC Milan.
e-Money announced the launch of its first cross-chain Ethereum bridge. As per the tweet, this is a two-way token bridge that facilitates ERC-20 token transfers between e-Money and Ethereum. The e-Money protocol offers a wide spectrum of interest-bearing currency-backed stablecoins, where each token is backed by a reserve of assets denominated in its underlying currency. Hence, this collaboration with Ethereum Network would strengthen crypto liquidity. Notably, with this bridge, the e-Money token named NGM is also available on Uniswap for users to enjoy trading on one of the biggest DEXes.
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— e-Money (@emoney_com) April 7, 2021
DAFI Protocol partnered with Oddz Finance to integrate dTokens in the Oddz network. Oddz is a secure and decentralized platform that offers an in-built Oracle solution for seamless on-chain option trading. With this coalition, Oddz will design new staking models, while utilizing Dafi Protocol’s synthetic dTokens into its platform. Further, these dODDZ tokens will operate to mitigate price/supply volatility from the Oddz platform. In addition, this would help to build feasible incentives and an economic model, which spur network demand and token adoption.
In the last bit of crypto news for today, we have Mirror Protocol collaborating with the EasyFi ecosystem to enable tokenized stocks and commodities. Moreover, these tokenized stocks and commodities, such as oil, are launched as collateral markets on the EasyFi lending protocol. Further, the team has plans to launch diversified assets such as Facebook, Apple, Amazon, Google, Netflix, and more. Impressively, EasyFi becomes the first Layer 2 DeFi protocol to bring tokenized stocks and real-world assets as lending collaterals. Additionally, those users who hold mirrored assets (mAssets) can take loans against their tokenized stock and commodities positions on EasyFi Protocol at Binance Smart Chain. In addition, users can also borrow stablecoins such as USDC, BUSD, and DAI against these collateral assets.
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