GHO (GHO) news

Bitget Hot Takes (February 06 - February 12)

Bitget Hot Takes is the exclusive weekly newsletter series by Bitget Academy, the 360-degree onboarding guide for all crypto enthusiasts. Bitget Hot Takes last week can be found here. Central Themes • BGB hit a new record high at US$0.39616. • Over US$9 million in digital assets raised to help the Turkey-Syria earthquake victims. • Cryptex Finance launched NFT Index. • Aave’s decentralised stablecoin GHO went live on Ethereum’s Goerli. • South Korean regulators expand the definition of securities, which will most likely affect many tokens . • SEC turned aggressive on crypto staking and BUSD. BGB Hit A New Record High At US$0.39616 BGB has seen three consecutive weeks of new highs: • January 23 - January 29: US$0.22185 • January 30 - February 05: US$0.22455 • February 06 - February 12: US$0.39616 Most importantly, the persisted momentum sent BGB to its all-time high, surpassing the US$0.23949 mark in October 2022. On the percentage scale, the landmark US$0.39616 represents an increase of 65.4% from the previous all-time high, 76.4% from last week’s and 78.6% from the week before’s high. Even when the sentiment cooled down on Sunday, BGB’s weekly closing price is still equivalent to 1.98 times the opening price on January 01, 2023. Source: TradingView Double the value in less than two months? We are not surprised at all. Check the analyses of BGB price trend in 2022 here.. BGB Sail: December Edition BGB Sail: November Edition BGB Sail: October Edition BGB Sail: September Edition BGB Sail: August Edition BGB Sail: July Edition BGB Sail: June Edition BGB Sail: May Edition .. and see yourself why BGB deserves its breakthrough: Why BGB Is Your Bluechip Exchange Token. The True Colour Of Crypto Two earthquakes with a magnitude of 7.8 and 7.6 on the Richter scale hit central and southern Turkey as well as northern Syria, followed by multiple devastating aftershocks. We were saddened to hear of the incident and want to express our deepest condolences to all the victims and their families. Our immediate action following this tragedy was to donate 1 million Lira in relief funds to Turkish earthquake victims. We are delighted to see other crypto and blockchain entities (Vitalik Buterin, Tether, Binance, Gate.io, Bitfinex, Huobi Global, OKEx, Bybit, among others) offering support in our own way a.k.a via digital assets. Turkish singer Haluk Levent and charities in Turkey have also set up a donation wallet to receive enormous help from the Web3 community worldwide. The donations are tracked by Nansen here: Nansen Portfolio. At least US$9 million in crypto have been pledged for humanitarian efforts, highlighting all the advantages of crypto in urgency: 24/7 transactions, transparency, goodwill and compassion. What else do we have for the week? These four ‘pump-worthiness’ pieces of news will hype you up:(1) Cryptex Finance launched their NFT index (JPEGz) that tracks the Top 10 NFT collection by 805b10aa-c45c-43e8-a613-a758b1087a8a cap, including Azuki Official, Bored Ape Yacht Club, CloneX, Cool Cats, CrypToadz, CryptoPunks, Doodles, Mutant Ape Yacht Club, Vee Friends, World Of Women. Q: Why do we need an NFT Index? A: Any index will serve as a performance benchmark for the asset group they are tracking, and at the same time provide an affordable, diversified investment option for the majority. (2) The Sandbox and the Saudi Arabia Digital Government Authority signed a memorandum of understanding. Q: Why is this big? A: Saudi Arabia has partnered with one key Metaverse player, confirming the Middle East’s unwavering interest in Crypto and Web3. (3) MetaMask integrates Onramp.money. Read the official announcement here. Q: Who is Onramp.money and what do they offer?A: Onramp.money is a quick, reliable route to deposit INR from Indian users’ bank account to MetaMask. That way more crypto lovers in the second-largest country by population can access Ethereum, BNB Chain, Polygon, etc. and trade/purchase tokens with ease. (4) Aave’s decentralised stablecoin, GHO, went live on the Goerli testnet of Ethereum. Q: Another decentralised stablecoin? Really? A: DAI is also a decentralised stablecoin, and it’s been around for years. A stablecoin makes up for the high volatility often seen in crypto markets, allowing investors/traders to exchange assets without loss and hassle. Aave is one of the biggest lending markets on Ethereum, therefore a stablecoin will be of great benefit for both lenders and borrowers using this protocol. On a broader perspective, it could be considered as another decentralised stablecoin pilot and a good reference for stablecoin issuers-to-be. However, February seems to be the month of regulatory scrutiny, with South Korea’s Financial Service Commission broadening the definition of securities. Those who do not fall under this definition will have to comply with an upcoming digital asset framework that is to be passed by early next year. And the U.S. Securities and Exchange Commission (SEC) is getting more aggressive than ever towards crypto with their charges on Kraken staking program. In the already unclear crypto environment in the U.S., this case will most likely drive more innovation companies away. In another move, the SEC is reported to send Paxos a letter saying ‘a possible enforcement action’ regarding the stablecoin BUSD is on the way. BUSD, or BinanceUSD, is issued by Paxos, but in the ERC-20 standard. The BUSD used on BNB Chain and in other Binance transactions is in the BEP-20 standard, meaning that it is a wrap of the BUSD issued by Paxos. Latest update: Paxos is ordered by the New York Department of Financial Services to stop minting new BUSD (Source: The Block). The Latest Bitget News The fierce competition between Google’s Bard and Microsoft’s ChatGPT has sparked the AI craze in the crypto sector, with many AI/big data crypto assets rallying by hundreds and thousands percent overnight. To support projects’ growth as well as creating a safe environment for investors, Bitget has upgraded our Bitget Innovation Zone for an even better user experience. Let’s see how we celebrated the 20 new listings last week in Bitget Innovation Zone: In Celebration Of Bitget Innovation Zone’s Comeback Have you tried Bitget Spot Copy Trade on your Android devices? Realising how much our users love Bitget One-Click Copy Trade, we have worked diligently to release Bitget Spot Copy Trade - the sibling of Bitget One-Click Copy Trade that targets Bitget spot markets and our plentiful offering of crypto pairs. Learn how to dive in right now with our guide here. Not only that, Bitget Spot Copy Trade is also available on web at Bitget Spot Copy Trade - Web version, accompanied by the Learn Earn program exclusively designed for Spot Copy Traders! Read our guide on Spot Copy Trading and join the event to earn 500 BGB - over US$165 at current prices - as soon as possible! New Events Spot Copy Trading: 10,000 USDT and More! Futures Trading Competition: Win a Honda Motorcycle and Split 100,000 USDT It's Valentine's Day! Grab That Special Someone and Open 7777 Mystery Boxes! [Valentine’s Day Special] 2 Round-Trip Tickets to Anywhere in the World! Win-Win-Win! $3000 in MDAO to Grab! [Spot Listing] Bitget Will List Thales (THALES) in the Innovation Zone - Share $15,000 Worth of Rewards! Bitget Will List Concentrator(CTR) in the Innovation Zone - Share $20,000 Worth of Rewards! Bitget Will List Tranchess (CHESS) in the Shanghai Upgrade Zone- Share $10,000 Worth of Rewards! NFT Drop Starring BONK – Trade Claim Your Share of 15 Billion BONK Plus NFT Rewards! Good Reads BLUR: How Bitget Says Happy Valentine In Celebration Of Bitget Innovation Zone’s Comeback Why SEPA Is Important For Fiat On-ramp? Bitget Strategy Copy Trading Glossary Blockchain 101: LTC vs. BTC vs. ETH: What Sets Them Apart? Ethereum Shanghai Upgrade Explained Follow us for the latest updates: Twitter | Telegram | LinkedIn | Facebook | Instagram

Bitget Hot Takes (July 25 - July 31)

Bitget Hot Takes is the exclusive weekly newsletter series by Bitget Academy, the 360-degree onboarding guide for all crypto enthusiasts. Central Themes BGB continued to go up with low volatility. Bitcoin crossed the US$24,000 mark after FED hiked interest rates by 75bps for two months in a row. Tether denied holding Chinese commercial papers, regained peg after 68 days. DeFi, L1 L2 in focus. BGB Rose Steadily With Low Volatility Bitget Token ended the week with a green from seven consecutive days of positive cumulative returns. BGB holders could have a 1.7% increase in profits if they choose to realise yesterday, however we are expecting BGB price to go up step by step. It should be noted as well that the BGB price didn’t see any radical changes with the 0.1654% weekly volatility. Market Essentials: Bitcoin Stablecoins The global market capitalisation remained above US$1 trillion for most of the days, except for Tuesday (June 26) and Wednesday (June 27) before the Federal Open Market Committee (FOMC) meeting, which was expected to result in an ‘only’ 0.75% increase in interest rates in the U.S. Even though the correlation between Bitcoin and the stock market has been somewhat on the way down since mid-May, the figure stays over 50%, meaning that Bitcoin and other cryptocurrencies still tend to follow the movement of stocks. Therefore, a rate hike of 75bps had cheered both markets. Source: Delphi Digital More on Bitcoin’s correlation with other assets is reported in Bitget 2022 Semi-annual Crypto Briefing. Bitcoin is persistently up since the FOMC meeting and now trading between US$23,700 and US$24,200. Source: CoinGecko This can also be backed by a drop in Bitcoin network difficulty, meaning production rate is slowed down. Our memo for Bitcoin mining difficulty: Less miners = Lowered difficulty = Scarcer Bitcoin Source: Glassnode Meanwhile, Tether has reclaimed the US$1 peg after 68 days after a period of constantly reducing their commercial paper holdings and denied rumours about its reserve of Chinese/Asian commercial papers. Source: Kaiko Analytics It is important to note that USDT is more widely in Asian and European countries, while the U.S. has turned to USDC as shown in the frequency charts below: Source: CoinMetrics DeFi, L1 L2 Decentralised Finance DeFi has suffered heavy losses in Q2 2022, mostly due to a spreading contagion in lending activities. That does not stop builders from the hustle; leaders of the space are paving way for a return of decentralised finance: - Curve Finance has applied for a 1 million OP token grant from Optimism to incentivise liquidity on Curve-Optimism pools; - SushiSwap team nominated a new potential 'Head Chef', whose appointment will be decided by the Sushi community. Many are looking for changes in SushiSwap’s prospects, should the new Chef be welcomed on board, as he has deep ties with the NFT space. - Aave’s proposal of GHO launch has been approved. GHO is a digital asset-backed stablecoin who borrow interests will 100% go to the DAO. - Moonbeam has partnered with the Cosmos-based exchange Osmosis to enable swap between Polkadot and Cosmos. - After Lido DAO rejected the sale plan of US$14.5 million in LDO to Dragonfly Capital, Lido Finance has come up with a new proposal with the inclusion of a vesting plan to tackle the community concerns. Another change in the sale is how LDO price is calculated: a seven-day average of LDO at the end of voting plus 5% premium instead of a flat rate. - Velodrome, a DEX built on the L2 solution Optimism, has crossed the US$100 million mark in total value locked (TVL) for the first time on July 28, challenging dominant platforms such as Uniswap. - Clearpool, a decentralised marketplace for non-collateralised lending, has brought its pools to Polygon. Something to watch out: - Flash loan attacks: Solana-based Nirvana Finance was the latest victim, with US$3.49 million drained from its treasury. The native token of the protocol (ANA) lost 89% and its stablecoin (NIRV) lost 90% of its peg right afterwards. - Crypto lender BlockFi released a quarter-end report, which shows that the firm had US$1.8 billion in open loans and US$600 million exposure by the end of June. L1 L2 Both Ethereum (ETH) and Ethereum Classic (ETC) are rallying as Ethereum developers finally decided on the date for the final testnet before The Merge. The Goerli testnet will take place from August 6 to August 12 before Ethereum merges with the Beacon Chain in September this year. In an effort to attract new projects, Fantom community has decided to use one-third of the network burn fees for project funding. Around the same time, Algorand announced that their current COO will serve as the new interim CEO. Last but not least, the Harmony team is finally proposing two reimbursement options for victims of the Horizon bridge attack in June, both via the minting of ONE. Capital Injections Unwavering Crypto companies have collectively raised nearly US$300 million within the last 7 days. The latest banking giant to join the digital space was Barclays, who is taking a stake at the US$2 billion valuation crypto firm Copper. Meanwhile, the early-staged crypto ventures fund Variant raised US$450 million for Web3 or, “user-owned web”, investments. Below are last week deals: - Public chain Aptos secured US$150 million in a Series A funding round led by FTX Ventures and Jump Crypto; - Root Protocol, an on-chain marketplace for financial, prediction and commercial markets, raised US$9 million in a seed round led by Road Capital, Soma Capital, Nima Capital and Manifest Crypto. Root Protocol will be built on top of the hacked stablecoin protocol Beanstalk; - Topl, a blockchain ecosystem designed to help companies track sustainability and social impact initiatives, announced a US$15 million Series A led by Mercury, Republic Asia and Cryptology Asset Group; - NFT domain provider Unstoppable Domains closed US$65 million in a Series A funding round led by Pantera Capital; - NFT indexing company Center raised US$11 million in a seed round. Among participants were Thrive and Founders Fund; - Health and fitness app Sweatcoin raised US$13 million from Spartan Capital. Electric Capital, OKX Blockdream Ventures, Goodwater Capital and GSR Capital; - Space and Time, the first decentralised data warehouse, closed a US$10 million seed round led by Framework Ventures; - Aurigami, a lending protocol on Aurora, announced a US$12 million token round. The private round was led by Dragonfly Capital and Polychain Capital, and the public round took place on KuCoin, ByBit and Impossible Finance. More Positive Signals Universities can become the next driving force of metaverse adoption. Wharton Business School has announced a six-week online program focusing on the economic and technological elements of metaverse. It is the first Ivy League Business School to launch such a program. Hong Kong University of Science and Technology (HKUST) takes another approach by building virtual campuses in the metaverse. Students will be able to participate in virtual classes and interact with classmates in MetaHKUST. Full-service broker Charles Schwab will launch its first crypto ETF on New York Stock Exchange (NYSE) on August 4 under the ticker symbol of STCE. The fund will not invest directly in digital assets, similar to ETFs by BlackRock and Fidelity Investments. The Latest Bitget News Determined to bring our users the best crypto experience, Bitget constantly adds new trading pairs each week alongside the interesting, bountiful events. Don’t forget to register your Bitget account here to join the weekly, exclusive Live Trader AMA in our community group! New Listings FIUUSDT SLGUSDT SYSUSDT XETAUSDT XCADUSDT DAOUSDT CSPRUSDT CMPUSDT WOMBATUSDT ALPACAUSDT New Events Upgraded Bitget Referral Program Super Airdrops For Active Users Receive $4,163 In Welcome Bonus! Star Traders Recruitment - Bitget Copy Trade Needs You 1,000,000 SHIB For New Users Exclusive Event For BGB Holders Good Reads Bitget Semi-annual Report 2022 ​​How to Use Bitget - The Beginner's Guide (Tutorial Video) What Is Liquidation How To Avoid It Follow us for the latest updates: Twitter | Telegram | LinkedIn | Facebook | Instagram