After making a daily low of $53,567, Bitcoin is now trading at $56,047. Meanwhile, the second-largest cryptocurrency, Ethereum, is trading close to $1,806.
Let’s find out some compelling crypto news for today.
Fuse Network integrates The Graph to simplify blockchain data access to developers. This integration facilitates subgraphs, which are organized, open-access collections of blockchain or IPFS data on a specific topic. The Graph supports Fuse, which means that any subgraph that relies on Fuse blockchain data can be launched on The Graph. The Graph supports developers to create and publish open APIs named subgraphs. It also operates as an indexing and query layer of the decentralized web. Hence, any decentralized application built on Fuse can create its own subgraphs. Further, this will enhance the user and developer experience, which results in the uptick of Fuse adoption. Additionally, the team also has plans to launch the first subgraphs for the core products of Fuse, including Fuse Studio, FuseSwap, and others.
Plasma Finance partnered with Rio DeFi to expand digital assets adoption. Moreover, Rio DeFi bridges traditional and decentralized finance and aims to increase the adoption of DeFi. Further, RioDeFi will contribute $50,000 worth of USDT and RFUEL tokens to the pool, which will boost the initial liquidity and jumpstart trading. In addition, to empower Plasma users, it will offer exceptional APYs with their own unique liquidity reward. Furthermore, RioDeFi provides innovative solutions to connect banking institutions with blockchain systems. This enables lower transaction fees and faster confirmations, which helps PlasmaPay in their goal to expand the global adoption of DeFi.
Nord Finance announced the integration of Polygon (previously Matic Network) to boost DeFi adoption. Collaboratively, the team will unlock new opportunities to expand this DeFi space to the next level. Further, this will bolster the user experience and attract new users to invest in this innovative space. Nord Finance is a blockchain agnostic platform, which aims to streamline decentralized finance products through its advanced decentralized financial ecosystem. This partnership helps Nord Finance to expand its product and Nord Savings V2 on the Polygon Network. Effectively, Nord Savings will utilize Polygon’s POS bridge for efficient deposit and transfer of stablecoins and executing yield farming strategies. Additionally, this will simplify DeFi investments for users and enable cost-effective trades with negligible gas fees.
SushiSwap announced its launch on Avalanche to offer lower fees and faster transactions to users. Avalanche scales and boosts the performance speed of DeFi apps, which results in instant transaction confirmation. Therefore, this will empower the SushiSwap traders and users by giving access to better margins. Further, this will allow swift and easy execution of trades. SushiSwap is an automated market-making (AMM) decentralized exchange (DEX) that offers a high-quality DeFi trading ecosystem. The DeFi space is exploding, and the spike in Ethereum gas fees is creating a roadblock for new users. Hence, Avalanche solves this issue by processing smart contract transactions at a minimal cost.
The last bit of crypto news for today comes from the DeFi space, where Wing Finance announced it is launching two Chainlink Price Feeds to enhance their cross-chain assets. Moreover, Wing Finance is an innovative credit evaluation module and cross-chain DeFi lending platform powered by Ontology. This integration will help Wing to obtain secure and reliable asset valuations for WING/USD and ONT/USD. In addition, these price feeds are critical for DeFi protocols to offer support for cross-chain assets. Further, Chainlink will empower users by providing the most robust and lucrative features, along with high-quality data with secure nodes. Additionally, DeFi projects can leverage the WING/USD and ONT/USD price feeds to create new products based on Ontology assets.
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