Top Crypto News: 05/04

After making a daily high of $58,219, Bitcoin underwent a correction and is now trading at $55,021. Meanwhile, the second-largest cryptocurrency, Ethereum, reached a new all-time high of $3,519 and is trading close to $3,326.

Let’s review some interesting crypto news for today.

1 – Convergence Finance | Hex Trust Collaboration to Safeguard NFT Custody

Convergence Finance collaborated with Hex Trust to safeguard NFTs. Hex Trust is Asia’s leading digital asset custodian, which offers institutional-grade custody for digital assets. With this collaboration, Convergence can provide institutional-grade security to its NFT and DeFi users. Together, the team will design a fully licensed and secured platform. Moreover, this platform consists of a diverse range of crypto assets and NFTs to entice new users. This coalition follows in the footsteps of Convergence partnering with leading blockchain code audit company Certik.

2 – Umbrella Network | Binance Smart Chain Integration to Reduce Transaction Costs

Umbrella Network announced their switch from Ethereum to Binance Smart Chain (BSC). Moreover, Umbrella provides low-cost scalable and secure solutions for smart contracts. It operates as a bridge between smart contracts and off-chain data feeds. With this integration, the Umbrella Network would enjoy BSC’s low-cost transaction fees. Currently, this transaction fee is 99% lower than the Ethereum network. In addition, this will help Umbrella to shift towards a fully decentralized and community-driven platform. This move will enhance data updates and price feeds on Umbrella while removing Ethereum’s network congestion.

3 – Dogecoin Hits New All-Time High Amidst Market Cap Surpassing Ripple & Tether

At the time of press, Dogecoin is trading close to $0.606, which is roughly over a 44.5% price surge in the last 24 hours. Moreover, the Gemini and eToro exchange listings are being touted as reasons for the recent DOGE price uptick. Meanwhile, this pump was started with the recent tweets from Tesla CEO Elon Musk about Dogecoin and his Saturday Night Live hosting gig. In addition, this price surge boosted Dogecoin to hit a new all-time high and became the fourth-largest cryptocurrency by market capitalization. To grab this position, the meme coin also surpassed XRP and USDT.

4 – ZeroSwap Acquires DeFi Wizard to Boost Multichain Ecosystem

ZeroSwap announced the acquisition of DeFi Wizard. DeFi Wizard offers a decentralized finance infrastructure to create smart contracts for ERC20/ BEP20/EDST, staking, and yield farming. With this acquisition, the team will create tokens which can be launched on multiple chains utilizing ZeeDO. Collaboratively, both teams will work to improve the on-chain liquidity on multi-chains, as well as to enhance the privacy and security of users. Notably, the ZeroSwap team will take care of DWZ tokens, and users can utilize them for pre- and post-IDO DeFi services.

5 – Trodl | Ferrum Network Partnership to Enhance the Staking Platform

In the last bit of crypto news for today, we have Trodl partnering with the Ferrum Network to enhance fixed and liquidity staking. With this partnership, users can stake their tokens to earn high yields, depending on the locking time period. Ferrum Network aims to create an interoperable cross-chain DeFi ecosystem that mitigates the barriers of mass adoption. Meanwhile, Trodl joins the world with the future of finance through its crypto information platform. Hence, this coalition will empower users with flexible, customizable, and high-yield staking opportunities.

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