Top Crypto News: 04/16

After making a daily low of $60,426, Bitcoin is now trading at $61,431. Meanwhile, meme-based Dogecoin exploded over 475% in the last seven days and, after making an all-time high, is now trading at $0.3541. Besides this, blockchain-based, decentralized video streaming network THETA also hit a new all-time high and is trading at $14.04.

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

Chainlink Unveils Launch of Chainlink 2.0 to Boost Hybrid Smart Contracts

Chainlink announced the launch of Chainlink 2.0 to boost hybrid smart contracts. As per the official tweet, this version would upgrade the developing hybrid smart contracts. With this upgraded version, the team has launched the Decentralized Oracle Networks (DONs). Moreover, these are multiple interoperating Chainlink DONs which are tied with existing blockchains. This would help to strengthen the accuracy of oracle reports and to settle down off-chain oracle disputes. Besides this, DONs would support smart contracts to access any off-chain resource and off-chain computing environment. Further, these hybrid smart contracts empower decentralized applications to execute major upgrades seamlessly. Hence, these DONs provide a completely secure and flexible solution for the creation of hybrid smart contracts.

Dogecoin Soars 200% in 24 Hours and Becomes 5th Largest Cryptocurrency by Market Cap

At the time of publication, Dogecoin was trading close to $0.348836, which is roughly over 500% in the last 14 days. Before that, it surged from $0.0619 to a whopping high of $0.4154 within the last seven days. Moreover, this explosion is after a tweet from Tesla CEO Elon Musk, which fueled its market cap to over $49 billion. In addition, this price surge boosted Dogecoin to hit a historical milestone and to become the fifth-largest cryptocurrency by market capitalization. To grab this position, the meme coin surpassed some of the other top crypto assets, such as Uniswap, Cardano, Polkadot, Chainlink, and Litecoin.

Binance Largest Coin Burn Destroys $595 Million Worth of BNB Tokens

Binance announced the burning of BNB tokens worth over half a billion dollars. As per the tweet, this was the 15th token burn to date, with a record $595 million worth of BNB tokens getting destroyed. This has skyrocketed its price by over 1,500% since the start of this year. Moreover, it has surged from $37.39 to a high of $610 since January. Notably, this token burn is the largest BNB burn ever, which fueled its market cap to over $79 billion, and it became the third-largest crypto asset by market capitalization. At the time of press, BNB was trading close to $513, and this recent uptick is due to recent developments in the Binance Smart Chain (BSC) projects.

PAID Network | Knit Finance Partnership to Explore Cross-Chain Interoperability

In the last bit of crypto news for today, we have PAID Network partnering with Knit Finance to enhance cross-chain interoperability. Knit Finance strives to bridge multiple non-Ethereum chains with ERC-20 with its next-generation DeFi protocol. Users can also generate wrapped tokens in a 1:1 ratio by leveraging Knit Finance. With this partnership, PAID tokens can be wrapped as K-PAID to support its transactions across multiple independent blockchains. In addition, Knit Finance would utilize PAID’s SMART Agreements to improve its business agreements efficiency.

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