Top Crypto News: 03/24

Bitcoin hit a 24-hour high of $57,239 but is now trading at $53,467. Elon Musk’s announcement to offer Bitcoin payment options for Tesla customers is being touted as one reason for the recent price uptick. Meanwhile, the second-largest cryptocurrency, Ethereum, is trading close to $1,590.

Let’s find out some interesting crypto news for today.

Elon Musk Announced Bitcoin Payment Option for Tesla Purchases

Elon Musk has tweeted Tesla will now accept Bitcoin payments for the purchase of their cars. In his tweet, he stated that the firm is operating Bitcoin nodes directly and that Tesla is using only internal and open-source software for the same. The electric car company CEO said that Tesla would accumulate the BTC paid to them and will not convert it to fiat currency. Earlier this year, the company accumulated around $1.5 billion worth of digital assets as per an SEC filing. Initially, this option to buy Tesla through Bitcoin would only be available to U.S.-based customers. Additionally, this smashing news boosted the Bitcoin price for a short time as it jumped over 2% within few hours.

Filecoin Teams up With Chainlink To Empower Web 3.0 Developers With Advanced Decentralized Storage

Filecoin announced the integration of Chainlink oracles to create advanced decentralized storage solutions for Web 3.0 developers. Moreover, Filecoin is an open-source decentralized storage network and provides data solutions. With this integration, Chainlink oracles allow smart contracts to utilize Filecoin’s storage capabilities. Further, Filecoin will get access to Chainlinks external adapters, which will help to connect Filecoin’s storage data with other smart contract ecosystems. This bi-directional communication would empower Web 3.0 developers with advanced features.

DAFI Protocol | Bridge Mutual Partnership To Uplift Their Staking Rewards

DAFI Protocol collaborated with Bridge Mutual to integrate synthetics for their staking rewards. Bridge Mutual insures smart contracts, exchanges, stablecoins, and other crypto and DeFi products. The synthetic token of Bridge Mutual is dBMI, which is pegged to the underlying BMI network. The native token of Bridge Mutual is BMI, which is used for on-chain governance and staking rewards. This integration motivates stakers by sharing rewards and incentivizing them to make decisions on claims. Further, this would expand network adoption and inspire users to hold tokens for a longer term, which will increase liquidity in the system.

BlockStart | DAO Maker Collaboration To Reinforce Blockchain Ecosystem for Startups

DAO Maker partnered with BlockStart to create a more inclusive and sustainable blockchain ecosystem. BlockStart supports talented blockchain innovators, DLT startups, and developers by transforming their ideas into reality. DAO Maker helps startups with their funding framework and growth technologies while minimizing risk for investors. Its innovative Social Mining solutions support projects with community growth and managing their decentralized ecosystem. This collaboration will reinforce the blockchain ecosystem and help in the further growth of new startups. Additionally, SHO-incubated projects can participate in the BlockStart partnership program to implement solutions and to nurture the fintech startup industry.

Fantom | Covalent Integration for Enhanced Indexing Solution With High Blockchain Scalability

Covalent partnered with Fantom to unite its indexing solution with the extremely scalable blockchain ecosystem. Moreover, Covalent provides complete transparency and visibility to assets across different blockchain networks through its APIs. With this coalition, developers can fetch Fantom’s blockchain data effortlessly by integrating Covalent’s indexing solution. Fantom is a fast, scalable, customizable, and secure smart contract platform, which makes it ideal for DeFi applications and real-world uses. Hence, this integration will provide enhanced Covalent API to boost the blockchain ecosystem scalability.

Orion Protocol Taps PolkaCover To Provide Coverage & Safeguard Users

In the last bit of crypto news, we have Orion Protocol, who partnered with the decentralized DeFi and crypto ecosystem insurance marketplace, PolkaCover. This integration will provide security features to users for trading on any platform. This would attract more users and safeguard their funds against any kind of hacks, exploits, and rug pulls. Moreover, PolkaCover safeguards crypto, DeFi, and NFT asset users by offering various insurance products. Effectively, users’ funds are shielded by Orion, and if contracts encounter any unforeseen bug, then these contracts are designed to revert orders. Additionally, PolkaCover implements an API into Orion’s trading platform to supply real-time quotations to the Orion trading platform for all insurance-related products. This would help users to accept the quotation and enjoy risk-free trading through PolkaCover coverage.

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