Author: Yeek.io

Solana-based Layer-2 network Sonic SVM has officially launched its native token, $SONIC, on Tuesday.The token generation event occurred on January 7, 2025, at 12:00 PM UTC, enabling $SONIC to commence trading on various cryptocurrency exchanges.This launch is particularly noteworthy for players of SonicX, a TikTok-based tap-to-earn game developed by Sonic SVM, who are set to receive airdropped tokens as rewards for their in-app progress. Source: Sonic SVMWhat is Sonic SVM?Sonic SVM is the first Solana Virtual Machine (SVM) network extension built on Solana, focusing on gaming and applications.It utilizes the Sonic HyperGrid framework to orchestrate optimistic Solana rollups, enhancing scalability…

Quantum computing stocks like IonQ, Rigetti Computing, D-Wave Quantum, and Quantum Computing were each down by more than a whopping 40% after Nvidia chief Jensen Huang’s comments that he did not expect quantum computers to be a reality any time soon. IonQ (IONQ) was down by 43.17%, Rigetti Computing (RGTI) by 46.25%, D-Wave Quantum (QBTS) by 47.70%, and Quantum Computing QUBT) by 46.14%. “If you kind of said 15 years for very useful quantum computers, that would probably be on the early side. If you said 30, it’s probably on the late side,” Huang said in a Q&A session during Nvidia’s analyst day…

Elixir, the decentralized consensus network for crypto exchanges, is partnering with tokenization platform Securitize to unlock decentralized finance for Hamilton Lane’s private credit fund. On Jan. 8, Elixir announced it was teaming up with Securitize to enable institutional access to Hamilton Lane’s Senior Credit Opportunities Fund, or SCOPE Fund. The fund launched on Solana (SOL) in July 2024. The partnership will see Elixir serve as the native path to DeFi for SCOPE investors, with the platform offering access via its decentralized stablecoin, deUSD. “Starting Monday, in partnership with Securitize, Elixir will enable the fund’s institutional asset holders to keep isolated…

Large transaction volumes have soared by 2004% in the past 24 hours. Currently, 67.16% of top traders hold long positions, while 32.84% hold short positions. Despite a notable price decline in the past 24 hours, Shiba Inu [SHIB] remained optimistic and appears poised for an upside rally. Currently, the market is facing significant selling pressure due to yesterday’s crash, during which Bitcoin [BTC], Ethereum [ETH], and other assets experienced substantial price declines. Whale moves 8.18 trillion SHIB  On the 3rd of January 2024, SHIB broke out of a bullish double-bottom price action pattern and subsequently entered a consolidation phase. The…

Solana’s trading volume surged by 94.85%, despite an 8.68% price drop in the last 24 hours. SOL faced resistance at $217; $195 support is crucial for stability as institutional interest grows. Solana [SOL] was trading at $197.05 at press time, experiencing an 8.68% decline in the last 24 hours but posting a 4.31% gain over the past week.  Meanwhile, the cryptocurrency’s trading volume surged to $6.69 billion within 24 hours, reflecting robust market interest. At the time of writing, with a circulating supply of 480 million SOL, the coin’s market capitalization stood at $95.54 billion,  SOL’s price has fluctuated within…

Revolut, the U.K.-based digital banking giant, is the latest company to join the Pyth Network as a data publisher. The partnership between the Financial Conduct Authority regulated neobank and Pyth Network (PYTH) means Revolut will now contribute its price data to the blockchain-based oracle network, benefiting the growing decentralized finance ecosystem. Revolut’s integration with Pyth comes as the gap between traditional finance and DeFi continues to narrow. This trend has gained traction amid the increasing adoption of blockchain technology across financial technology and related ecosystems. The Pyth Network’s oracle solution plays a key role in this evolution as the platform…

They say journalists never truly clock out. But for Christian, that’s not just a metaphor, it’s a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian’s journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved…

Merkle trees are a fundamental part of what makes blockchains tick. Although it is definitely theoretically possible to make a blockchain without Merkle trees, simply by creating giant block headers that directly contain every transaction, doing so poses large scalability challenges that arguably puts the ability to trustlessly use blockchains out of the reach of all but the most powerful computers in the long term. Thanks to Merkle trees, it is possible to build Ethereum nodes that run on all computers and laptops large and small, smart phones, and even internet of things devices such as those that will be…

Quick take: The fundraising follows Movement Labs’ $38 million Series A round announced in April 2024. The company is building an integrated blockchain network capable of handling more than 30,000 transactions per second. The company aims to fix two of the blockchain technology’s main issues, which co-founder Rushi Manche noted last year as “user experience and smart contract exploits”. Movement Labs, the developers of EVM-compatible Zk-powered blockchain MoveVM is reportedly raising $100 million in a Series B funding round led by CoinFund with Brevan Howard’s digital asset arm also participating. The fundraising values the Web3 company at $3 billion, a…

Homepage > News > Tech > Hive Digital shifts operations to Texas, targets Trump-era support BTC block reward miner Hive Digital (TSXV: HIVE) is shifting operations from Canada to the U.S. in anticipation of an enabling business climate under the Donald Trump administration. Hive announced on December 31 that it would relocate from Vancouver, Canada, to San Antonio, Texas, to capitalize on the opportunities the U.S. market offers. Texas has become the U.S. mining hub, with Hive’s peers, including MARA Holdings (NASDAQ: MARA), Riot Platforms (NASDAQ: RIOT), Bitdeer (NASDAQ: BTDR), Cipher Mining (NASDAQ: CIFR), and more operating in the state. Texas’…