Record-Breaking Transaction Volume on zkSync Era PaymasterBy AZC News | 18 hours agoThe number of
Record-Breaking Transaction Volume on zkSync Era Paymaster
By AZC News | 18 hours ago
The number of transactions on zkSync Era Paymaster has exceeded 1.1 million, with SyncSwap Paymaster contributing 56.8%.Record-Breaking Transaction Volume on zkSync Era Paymaster
According to Dune Analytics data, zkSync Era currently boasts 173,000 users utilizing Paymaster - the new custom fee payment solution of layer-2. Since its launch in mid-January, Paymaster transactions have surpassed 1.1 million, hitting a record of 66,700 transactions on February 19.
Among the applications on zkSync, SyncSwap stands out as the platform with the highest utilization of Paymaster, representing over half (56.8%) of the chain's total transactions.
Regarding Paymaster, it is a custom gas fee payment solution that allows users to utilize ERC-20 tokens instead of default ETH to pay fees. Paymaster was previously mentioned by Ethereum co-founder Vitalik Buterin in an article on Account Abstraction (AA) - the process of "smart contractifying" wallet addresses, fee payment, and validation.
zkSync is one of the most anticipated layer-2 solutions currently, partly due to the expectation of receiving airdrops after a long period of participating in network transactions. The community has recently taken action by "spamming" the GitHub of various layer-2 solutions that have not issued tokens yet to demand airdrops, creating a culture of e-beggars as mentioned by Starknet developers.
Related: Layer-2 zkSync Stopped working due to Excessive Caution
However, despite not yet affecting the reward plans for supporters, zkSync Era has surpassed Ethereum in transaction volume for the first time in December 2023, with 35.33 million transactions, despite facing chain congestion during the Christmas holidays.
Disclaimer. This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when Get 50$ Gift Pack with P2P Program on BingX
By AZC News | 18 hours ago
BingX exchange introduces a reward program worth up to $50 for investors who have never participated in P2P trading.Get 50$ Gift Pack with P2P Program on BingX
BingX cryptocurrency exchange introduces an enticing reward program for traders. You will receive a $50 Gift Package if you have never participated in P2P trading before.
Sign up for a BingX account here to receive additional benefits.
Event end time: 0:00 on February 26, 2024.
BingX offers a peer-to-peer (P2P) trading platform where users can directly buy and sell cryptocurrencies with each other. P2P trading on BingX provides a decentralized and secure way for traders to exchange digital assets without the need for intermediaries. With P2P trading, users have the flexibility to choose their preferred payment methods and negotiate prices directly with other traders. This allows for greater control and transparency in transactions, making it a popular choice for cryptocurrency enthusiasts looking for a hassle-free trading experience.
Learn more about the event here.
Related: Join the FIRE Airdrop with AZCoiner on BingX
Notes & Terms
1. Exclusively for users from Brazil, Turkey, Japan, United Arab Emirates, Saudi Arabia only.
2. Limited to users who have never engaged in P2P Trading prior to this event. Only P2P Buy orders are counted for the event; P2P Sell orders are excluded.
3. Rewards are issued within three hours upon task completion.
4. BingX reserves the right to the final interpretation of this event.
Disclaimer. This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own researcBinance Delists a Series of Leveraged Tokens
By AZC News | 17 hours ago
Binance advises users to proactively convert their tokens in the delisting list into other assets before the deadline.Binance Delists a Series of Leveraged Tokens
According to the latest announcement, Binance will delist several leveraged tokens paired with Bitcoin (BTC), Ethereum (ETH), and BNB starting from April 3, 2024.
The affected trading pairs include BTCUP/USDT, BTCDOWN/USDT, ETHUP/USDT, ETHDOWN/USDT, BNBUP/USDT, and BNBDOWN/USDT. Binance will also suspend trading services for these leveraged tokens at 06:00 AM on February 28th (UTC).
Here is the schedule for the delisting of leveraged token pairs.
Register for Binance's cryptocurrency trading to receive various benefits here.
Binance will automatically cancel all transactions related to these tokens at the specified deadline. The exchange will gradually delist and stop buying back tokens from April 1st to April 3rd. Users can swap tokens before the delisting date.
In case users do not actively swap their tokens, the exchange will convert the balance into USDT based on the token price on the delisting date. Binance will distribute the tokens to users' accounts within 24 hours and remove the leveraged tokens from wallets.
Binance's leveraged tokens are derivative products that allow investors to have leveraged exposure to the associated cryptocurrencies. These tokens represent a basket of perpetual contract positions and are affected by price fluctuations in the perpetual contract market.
Related: Binance Announces Listing of Starknet (STRK)
Leveraged tokens are a type of derivative product that enables users to access leveraged positions without collateralizing assets or relieving liquidation risks.
Despite the numerous benefits, Binance still warns that leveraged token trading often comes with other risks such as market volatility, price discrepancies, and various fees.
Disclaimer. This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own researeBay's Rumored Exit from Crypto NFT Market Raises Questions
By AZC News | 17 hours ago
eBay trims KnowOrigin's NFT marketplace team, with founder David Moore stepping back.eBay's Rumored Exit from Crypto NFT Market Raises Questions
Recent updates circulating in the town indicate that eBay, the prominent e-commerce entity, is contemplating an exit from the NFT market, a mere two years after its acquisition of the Manchester-based NFT Marketplace, KnownOrigin. Insiders with knowledge of the situation reveal that eBay has severed ties with almost 30% of its Web3 team.
The Path of Uncertainty for eBay's Web3 Division
eBay's venture into the realm of non-fungible tokens (NFTs) has encountered turbulence, signaling a shift in the company's Web3 strategy. The sudden departure of key personnel and reported tensions with NFT marketplace KnownOrigin have shrouded the future of digital collectibles on eBay's platform in uncertainty.
Just a year and a half ago, eBay made waves by acquiring KnownOrigin, a Manchester-based NFT marketplace, marking a significant entry into the flourishing NFT space. Following the acquisition in June 2022, KnownOrigin's team and intellectual property seamlessly integrated into eBay's Web3 division, strengthening existing collaborations with companies like OneOf, a green Web3 firm specializing in Music NFTs.
However, eBay's Web3 aspirations seem to be undergoing a transformation. In an unexpected twist, Stef Jay, the division's business and strategy officer, has reportedly resigned, and David Moore, one of the founders of KnownOrigin, is no longer actively involved. Sources informed NFTGators that tensions between eBay and KnownOrigin have escalated, casting doubt on the future of NFTs on the platform. The insider disclosed:
Internal Discontent at eBay: A Leadership Conundrum
A pervasive sense of discontent has taken root within the company, with many attributing the recent layoffs to a perceived lack of leadership and strategic direction. Criticisms, even from senior echelons, have surfaced, casting doubt on the qualifications of the current head of Web3 and eBay's strategy team.
Related: What is Pixels (PIXEL)? An NFT game on Ronin
Navigating the Shifting Tides of the NFT Market
Following a substantial surge during the 2021 bull run, the NFT market encountered formidable challenges amidst the crypto winter of 2022. However, recent months have witnessed a resurgence, with newcomers like BLUR challenging the once-unassailable dominance of platforms like OpenSea.
As the Bitcoin bull run is anticipated to persist in 2024, the NFT market is poised for a revival. Over the past two years, the NFT landscape has evolved significantly, enabling digital artists to autonomously create their NFTs on various platforms. Let's delve into the anticipated trajectory of the NFT market in 2024 and explore some of the prominent NFT marketplaces currently shaping the industry.
Disclaimer. This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own researcgadget artist alone blur swim leg call size major project salon athleteCoinbase Commerce Removes Bitcoin Payments
By AZC News | 17 hours ago
The online payment platform Coinbase Commerce is reportedly removing Bitcoin payments, according to a statement from Coinbase's Product Director.Coinbase Commerce Removes Bitcoin Payments
On February 18th, Coinbase announced the discontinuation of support for Bitcoin and similar UTXO-based cryptocurrencies on its Coinbase Commerce merchant payment platform. This decision was made by Product Director Lauren Dowling amid challenges in integrating Bitcoin into recent platform updates.
Coinbase Commerce is a crypto payment platform for merchants. Recently, Coinbase has made several significant updates to the platform, from adding a range of digital assets like ERC-20 tokens to enabling automatic conversion of payments into the USDC stablecoin.
However, due to inherent limitations of the Bitcoin blockchain, particularly its inability to integrate smart contracts and stablecoins, Coinbase Commerce considered removing the world's largest cryptocurrency.
Nevertheless, Coinbase CEO Brian Armstrong noted that users can still use Bitcoin if they have a Coinbase exchange account. Furthermore, Armstrong mentioned the platform's efforts to integrate the Lightning Network, a layer-2 payment protocol of the Bitcoin network optimized for speed and transaction fees.
Related: Coinbase Loses Position on App Store Rankings
User responses to this announcement
However, this decision has sparked controversy within the cryptocurrency community. Some expressed concerns, suggesting that Coinbase is going against the widespread adoption trend of Bitcoin as well as limiting the development potential of Coinbase Commerce, restricting customers' choices and flexibility in using cryptocurrencies for online transactions.
An anonymous user expressed frustration on X:
Is there any assumption that all customers are in the US and able to open a Coinbase account or all want to have a Coinbase account? This is like ordering everyone to be Bank of America customers so that stores only need to use this bank's services to accept payments.
In more positive developments, Coinbase recently reported an impressive quarter of business growth, with revenue and profits exceeding estimates.
Disclaimer. This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own reseFTX Digital's Global Settlement Amid CEO's Sentencing Awaits
By AZC News | 18 hours ago
As Sam Bankman-Fried, the former CEO of FTX, awaits sentencing, the crypto exchange has successfully reached a comprehensive settlement with its creditors and liquidators on a global scale.FTX Digital's Global Settlement Amid CEO's Sentencing Awaits
FTX Digital Markets Limited has entered into a significant agreement with FTX Trading Ltd. and its affiliated debtors, a pivotal development in addressing financial challenges amid Chapter 11 proceedings. This accord signifies a crucial milestone in the ongoing efforts of FTX Digital's restructuring.
In a positive turn for FTX creditors, the first meeting of FTX Digital's creditors is slated for March 15, 2024, at The Baha Mar Convention Center in Nassau, Bahamas. The objective of this meeting is to establish a liquidation committee and provide creditors with information about the claims process, ensuring a well-organized approach to the closure of FTX Digital.
FTX Digital, primarily based in The Bahamas, is registered to facilitate the exchange of digital assets and traditional fiat currencies. However, encountering regulatory hurdles led to a winding-up petition from the Securities Commission of the Bahamas in November 2022, resulting in the suspension of its digital asset business license.
FTX Digital Navigates Liquidation Process
In response to the financial challenges, the Commercial Division of The Supreme Court of the Bahamas took a pivotal step by appointing provisional liquidators. This distinguished team includes Mr. Brian Simms KC of Lennox Paton, Kevin Cambridge of PwC Bahamas, and Peter Greaves of PwC Hong Kong, entrusted with overseeing the intricate liquidation proceedings. Subsequently, on November 10, 2023, the Court elevated the Joint Provisional Liquidators to the position of Joint Official Liquidators (JOLs), tasking them with the responsibility to wind up the company in accordance with applicable laws.
Simultaneously, a Chapter 15 petition was filed in the United States Bankruptcy Court for the District of Delaware, seeking recognition of the provisional liquidation as a foreign main proceeding. This recognition was granted in February 2023. It is essential to note that FTX Digital is distinct from certain other FTX entities currently undergoing Chapter 11 Bankruptcy Proceedings.
Related: FTX Sells $10M DCI for $500K to Settle Debts
In the interim, this website serves as a central hub for FTX Digital stakeholders, including customers and employees. It provides regular updates and pertinent details specifically related to the Bahamian Liquidation Proceedings. Importantly, the platform does not delve into matters related to the Chapter 11 Bankruptcy Proceedings, focusing solely on the affairs of FTX Digital.
In conclusion, the situation unfolds with legal intricacies, involving ongoing proceedings in multiple jurisdictions. The overarching goal remains to address creditor claims and ensure the orderly liquidation of FTX Digital Markets Limited.
Disclaimer. This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.arch when making a decision.h when making a decision.ch when making a decision.h when making a 
