Top Crypto News: 06/18

There have been some notable developments in the crypto space today. Bitcoin is currently down 7.6% and is trading at $35,197. Meanwhile, Ethereum is also down 7.1% over the last 24 hours and is trading at $2,185.

Let’s take a look at some of the top crypto news stories for the day.

1 – Decentraland Real Estate Experiences Significant Growth

DappRadar reported that Decentraland real estate has been gaining lots of attention. The report also revealed that active wallets engaging with the collection increased by 350%, which increased the volume to $93k.

Overall, this shows a growth of 989% compared to the previous day. Despite the fact that the daily metrics can change with a few sales, the figures were outstanding.

It should be noted that real estate in Decentraland are enjoying some high prices. The average cost per plot over this 24-hour period is above $5,000.

It’s important to note that Decentraland gives users the chance to create, experience, discover, and monetize 3D content and applications in a virtual reality setup. It has also conducted several initiatives for the cryptocurrency community before now.

2 – UMA Protocol Is Scaling to Polygon, Plans Scaling to More EVM-Compatible Chains

Decentralized financial contracts platform UMA Protocol has revealed it is scaling to Polygon. The platform also gave an overview of its “broader scaling strategy” with plans to scale more EVM-compatible chains.

The rationale behind the move is to allow developers to continue enjoying the benefits of scaling solutions, alongside maintaining the practice that their contracts are secured by UMA’s DVM (Data Verification Mechanism).

“Polygon is only the first scaling solution on the list, and UMA will be extending support to the other solutions. Priority is placed on chains that show the most substantial developer interest for UMA,” the platform stated.

3 – OpenOcean Releases Demo of Cross-Chain Swap

OpenOcean, a DeFi and CeFi aggregator focused on offering the best price, has released a demo of a cross-chain swap. They plan to make it possible to carry out out the cross-chain swap with the best price on their platform.

In the demo, OpenOcean swapped UNI from the Ethereum chain into USDT on Polygon via the Matic Bridge. OpenOcean plans to release the cross-chain swap soon.

It’s important to note that OpenOcean is a full aggregator that gives access to crypto trading and pools liquidity for both decentralized finance (DeFi) and centralized finance (CeFi). OpenOcean also sets its sights on creating a full aggregator for crypto trading that bridges “the isolated islands in DeFi and CeFi.”

4 – TomoChain Partners BSC Station for Cross-Chain DeFi and NFTs

In our last bit of crypto news, we have TomoChain partnering with BSC Station. The partnership with Tomochain allows BSC Station to integrate the Tomochain blockchain. This makes cross-chain DeFi and NFTs possible on the current platform.

Therefore, BSC Station will grow ecosystems to other public chains. This allows more users of both projects to work together, as well as benefit from each other’s services.

The partnership also ensures that the BSCS token will be supported on LuaSwap, TomoChain’s multi-chain liquidity protocol. The BSCS token will also be supported on TomoDEX, TomoChain’s decentralized exchange.

“TomoChain and BSC Station will lay the groundwork for further integration and interoperability. Our collaboration will be able to reach a mass amount of users and ensure communication across both networks,” Tomochain stated.

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The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. This article has been sponsored by TomoChain. Copyright Altcoin Buzz Pte Ltd.


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