After making a daily low of $40,768, Bitcoin is now trading at $42,220. Meanwhile, the second-largest cryptocurrency, Ethereum, is trading close to $2,875
Let’s review some interesting crypto news stories in detail for the day.
Crypto.com has announced it is extending its insurance policy to cover up to $750 million worth of digital assets. This increased policy coverage is effective since September 6, which is headed by Arch Underwriting at Lloyd’s Syndicate 2012.
Notably, this policy includes both direct and indirect custodian coverage, which applies to Crypto.com’s cold storage assets held on Ledger Vault. Impressively, this policy is the largest coverage that Crypto.com has secured. Consequently, this will cover over 10 million users against physical damage, destruction, third-party theft, and more.
We’re proud to announce that we’ve increased our insurance coverage to USD $750M, the largest policy programme in the industry 💰🔒The most secure cryptocurrency platform is now even more secure.
— Crypto.com (@cryptocom) September 20, 2021
Injective Protocol is set to launch its Canonical Chain mainnet. Moreover, the Canonical Chain depicts the full-fledged version of the Injective Chain mainnet without any form of deposit or trading limitations.
As per the tweet, the project will go through significant product upgrades and releases before the main Canonical Chain release. These upgrades include the integration with decentralized oracle providers, such as Band Protocol or Chainlink OCR, to provide secure price feeds. Secondly, the team would onboard more institutional liquidity providers to the Injective Exchange. Thus, improving the stability and performance of the Injective API.
Notably, the official launch of this Canonical Chain will take place by the end of October or early November this year. Which will be the first fully decentralized cross-chain spot and derivatives exchange protocol.
An overview of the Mainnet Canonical Chain release is now ready!
Thanks to the larger Injective community for collaborating in this effort. It is recommended that everyone read the article to understand the next steps in the road to Canonical Mainnet 🧜♀️https://t.co/p4WtKAGCho
— Injective 🪐 (@InjectiveLabs) September 20, 2021
My Defi Pet has announced its partnership with gaming finance hub GameFi. With this coalition, My Defi Pet’s native token ($DPET) will get an option to sell a mysterious box on GameFi at the time of the feature’s launch.
In addition, My DeFi Pet will support the implementation of a system similar to a scholarship for DPET players on GameFi. In turn, GameFi will support and promote My DeFi Pet if $DPET sells NFTs or opens any NFT staking pool. Additionally, these NFTs will be included in GameFi’s marketplace to entice more players and investors.
— GameFi (@GameFi_Official) September 20, 2021
In the last bit of top crypto news for today, we have Xend Finance announcing it will go live on Polygon and Huobi Eco Chains. Polygon is known as Ethereum’s internet of blockchains that builds and connects Ethereum-compatible networks. Meanwhile, HECO is a decentralized and cost-efficient public chain where developers can easily design smart contracts that are seamlessly compatible.
As stated, this integration with the Polygon and HECO chains will provide $XEND community members an opportunity to explore a multi-chain support ecosystem. To facilitate this multi-chain integration, the project will utilize the leading cross-chain protocol named Anyswap bridge. In addition, the team will launch the auto yield aggregator and xVault on Polygon. Further, this would also help users to access Binance Smart Chain and Ethereum chain. Additionally, users can also earn rewards in $XEND with high-speed transactions at a low cost.
— Xend Finance (@xendfinance) September 20, 2021
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