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Within the blockchain space, there currently exist over 23,000 altcoins, which means that the choices are extremely varied, and as a result, it can become difficult for many traders and investors to know what to pick.By following the latest news, developments, and updates, they can make waves within the blockchain space, and can determine what projects are actually worth diving into.

Ethereum (ETH) and Chainlink (LINK) whales have begun diversifying with the TMS Network (TMSN) project and cryptocurrency. Today, we will be exploring exactly why this might be the case and what the project does right to bring in so much attention.

The team behind Solidity, the native programming language used to write the smart contracts on top of Ethereum (ETH), announced the release of Solidity version 0.8.20. The latest version includes numerous improvements through the via-IR pipeline, among other additions.

The Ethereum (ETH) Foundations Ecosystem Support program also became a supporter and sponsor of the ETHPrague event. Based on this, it is clear that the Ethereum (ETH) project, ecosystem, and programming language are being consistently improved.

As for its value, on May 13, 2023, Ethereum (ETH) traded at $1,795.58. Within the last 30 days, the Ethereum (ETH) cryptocurrency saw a decrease in its value by 10.2%. In the last week alone, Ethereum (ETH) dipped in value by 4.7%. With this in mind, it is clear why Ethereum (ETH) investors have begun their diversification process.

The Chainlink (LINK) team announced that registrations for SmartCon 2023 within Barcelona became open. Moreover, the Chainlink (LINK) team went over how there are fewer than 25 early bird tokens remaining for the event on May 13, 2023. Additionally, the Chainlink (LINK) ecosystem is growing; where on May 12, 2023, LitLab games joined Chainlink (LINK) Build to kickstart the adoption of Web3 gaming and the studios flagship game CyberTitans.

As of May 13, 2023, Chainlink (LINK) traded at $6.53. Within the last 30 days, Chainlink (LINK) decreased in value by 11.9%. In the las week alone, Chainlink (LINK) saw a decrease of 5.6%.

TMS Network (TMSN) will be developed as a platform where anyone globally will be able to access a truly borderless way through which they can trade any crypto or derivatives ranging from stocks, equities, forex, and much more. This is all done through the usage of cryptocurrency payments and Web3 technology.

The TMS Network (TMSN) platform will offer an unmatched level of accessibility and control for investors, as they are not even required to create separate account in order to use the platform. Every single user of TMS Network (TMSN) can just connect their cryptocurrency wallet and begin trading immediately and with ease.

Moreover, the TMS Network (TMSN) platform will implement advanced trading features alongside support for MT4 and MT5 so that users have the freedom to connect their trading bots or expert advisors. The TMS Network (TMSN) token is currently undergoing its presale period, where it is offered at a value of just $0.088. During this point in time, any investor will be able to buy the token before it explodes in value and can also access features such as premium services or a commission fee, that occurs when a trade gets made within the TMS Network (TMSN) platform.

Analysts within the Web3 space have predicted that the value behind TMS Network (TMSN) can climb by $2.20 by the end of 2023, and investors will not want to miss out on the opportunity to get into one of the most promising Web3 projects of the year.

Presale: https://presale.tmsnetwork.io

Website: https://tmsnetwork.io

Telegram: https://t.me/TMSNetworkIO

Twitter: https://twitter.com/tmsnetwork_io

None of the information on this website is investment or financial advice and does not necessarily reflect the views of CryptoMode or the author. CryptoMode is not responsible for any financial losses sustained by acting on information provided on this website by its authors or clients. Always conduct your research before making financial commitments, especially with third-party reviews, presales, and other opportunities.

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TMS Network (TMSN) Gets Massive Attention from Ethereum (ETH) and Chainlink (LINK) Whales - Crypto Mode

Its getting cheaper to lend and borrow your idle cryptocurrencies.

Compound Finance has announced that its deploying its latest iteration on the popular scaling solution Arbitrum.

One of the original decentralized finance (DeFi) products, Compound lets users lend and borrow various cryptocurrencies. The platform was also one of the first to experiment with so-called yield farming, distributing its native COMP token to the platforms users back in 2020. The token currently trades at $34.7 at press time.

Arbitrum is the industrys largest layer-2 scaling solution by total value locked (TVL), per data from L2 Beat. TVL refers to how much money is sloshing around in a given project or chain.

Compared to other popular Ethereum scalers, like Optimism or zkSync, Arbitrum takes the cake at a whopping $5.8 billion.

Compounds deployment on Arbitrum is limited to just a few cryptocurrencies, such as Ethereum (ETH), Arbitrum, Wrapped Bitcoin (WBTC), and GMX (the token powering the eponymously-named decentralized exchange).

Thats because the projects latest iteration, called V3, is optimized to manage risk by reducing the amount of long-tail crypto assets that can be lent and borrowed.

This year has turned into something of a layer-2 season with the launch of various governance tokens, and the first instance of zero knowledge-powered rollup solutions entering the scene.

Compared to optimistic rollup solutions, like those on offer from Arbitrum and Optimism, zk-rollups leverage a much more complex bit of cryptography. Members of this market niche include Starknet, Polygons zkEVM, and zkSync. The collective TVL for just those three projects is $320 million.

Both solutions leverage rollups, which batch transactions off of the Ethereum mainnet (hence the term layer-2) and then convert those batched transactions into a small piece of data.

This smaller piece of data, called a proof, is what Ethereum ultimately validates. In this way, the mainnet remains relatively uncongested, keeping gas prices on the network low.

Read more from the original source:

Crypto Lender Compound Deploys on Ethereum Layer-2 Arbitrum - Decrypt

Bitcoin bounced higher on Wednesday evening UK time after US president Joe Biden stated he was close to reaching a deal with Republican leaders to ward off a potentially catastrophic debt default.

Markets have been anxious that the US governments US$31.tn debt ceiling was close to being breached, yet partisans on both sides of the bench have been unable to reach a consensus on how to tackle the crisis.

But Biden said he is now "confident" a deal can be reached and passed by the first of June.

With a shot of confidence in the markets, BTC/USDT ripped to an intraday high of US$27,500 before correcting back to US$27,400 by the sessions close.

The pair has since moved back to US$27,220 this morning.

Bitcoin hits the breaks on volatility Source: currency.com

Ethereum (ETH) didnt benefit quite as much from the Biden bounce, closing Wednesday a few basis points lower at US$1,822 before inching close to US$1,830 this morning.

Spot prices for both ether and bitcoin appear to be levelling out following a period of heightened volatility, though a notable lack of liquidity in the markets remains a significant risk factor.

Both are also in the red week on week, while other blue-chip altcoins have begun outpacing them

Litecoin (LTC) is particularly strong, adding nearly 16% week on week as it continues to gain traction in anticipation for the next halving event on 2 August.

Ripple (XRP), whose developer Ripple Labs just bought Switzerland-based crypto custody firm Metaco for US$250mln, has also surged ahead with 5% gains, while BNB, Dogecoin (DOGE), Solana (SOL), Cardano (ADA) and Polygon (MATIC) are all in the green.

Global cryptocurrency market capitalisation added half a percent overnight not US$1.13tn, while total value locked in the decentralised finance space added 0.2% to hit above US$47bn.

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Bitcoin and Ethereum: Altcoins show strength against crypto ... - Proactive Investors USA

SUMMARY

Bitcoin, Ethereum and other cryptocurrencies edged higher on Thursday. The global crypto market cap stood at $1.13 trillion, with a volume of $33.5 billion in the past 24 hours. "Tether's announcement to diversify reserves into crypto shows the market's interest. In the past 24 hours, Cartesi (CTSI) and MOBOX (MBOX) have been the top gainers on WazirX," said Rajagopal Menon, Vice President, WazirX.

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Bitcoin | The world's largest and most popular virtual currency, Bitcoin, gained a percent to $27,354.3. Its market value stood at $530.3 billion. The trade volume was at $15 billion.

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"BTC is presently trading at approximately $27,300, and a potential rise may materialise if it surpasses the resistance level of $27,550. Support can be found at the $27,000 level, while resistance is expected at $27,420 and subsequently at $27,550," said Edul Patel of Mudrex.

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Ethereum | The second largest virtual currency, Ethererum or Ether, rose 1.2 percent to $1,826.8 with a market capitalisation of $219.6 billion. The trade volume of Ethereum was $6.2 billion in the last 24 hours.

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Patel said, "Ethereum experienced a decline yesterday following the Chinese prosecutors' announcement of a crackdown on the NFT market. However, it has since recovered and is currently trading around the $1,825 mark".

5 / 8

Dogecoin | Meme-based virtual currency, Dogecoin, gained 2.2 percent to $0.1. Its market value stood at $10.4 billion. The trade volume was at $323.3 million.

6 / 8

Solana | Solana rose half a percent to $21.1 with a market capitalisation of $8.3 billion. The trade volume of Solana was $270.6 million in the last 24 hours.

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Shiba Inu | Shiba Inu fell 0.1 percent with a market capitalisation of $5.2 billion. The trade volume was $106.3 million in the last 24 hours.

8 / 8

Polygon | Polygon gained 3.4 percent to $0.1 with a market capitalisation of $8.2 billion. The trade volume was $423.3 million in the last 24 hours.

Link:

Crypto Price Today: Bitcoin holds above 27k, Ethereum, other tokens gain - CNBCTV18

More than 70% of all tokenized Bitcoin, worth over $4.3 billion, have been transferred to Ethereum, according to data from Cryptoflows.

This migration highlights a growing trend of utilizing Bitcoin within Ethereums decentralized finance (DeFi) ecosystem and other interesting areas.

Out of the $5.75 billion worth of BTC exported from Bitcoin, over $1.44 billion found its way to the BNB Smart Chain (BSC) with more BTC tokens flowing to Avalanche, Fantom, and Solana.

Just like Ethereum, BSC, Avalanche, and other ecosystems where tokenized BTC found its way to, support smart contracting. Therein, holders can engage in DeFi, possibly earning income.

Bitcoin doesnt support smart contracts; explaining why some holders are tokenizing their assets. Still, while there appears to be growing demand for DeFi, reading from this outflow of BTC to smart contracting platforms, total value locked (TVL) and decentralized exchange (DEX) volumes have been low and even stagnant.

Data from DefiLlama.com, a DeFi analytics platform, shows that TVL is flat and below $50 billion.

Meanwhile, DEX trading volumes have been relatively low in recent months. This phase of decreased activity could suggest a temporary slowdown in decentralized trading, mirroring the general trend of crypto prices in recent months.

With less than $2 billion of registered DEX trading volumes on May 17, there has been a notable slump in activity over the last months, especially from early 2022.

In November 2021, at the peak of the last bull cycle, DEX trading volumes, on average, stood at over $7 billion.

While users port their BTC to smart contracting platforms, Bitcoin prices remain under pressure partly due to regulatory decisions across the world, mainly in the United States and Europe.

On May 16, the European Union (EU) approved comprehensive crypto regulations which aim to bring transparency and oversight to the crypto industry, addressing concerns such as money laundering and investor protection.

Even in this bearish environment, Geoff Kendrick, the head of digital assets research at Standard Chartered, recently opined that Bitcoin prices could rally by as much as 70%, adding $20,000, should the United States default on its debt.

Related Reading: Bitcoin Loses Grip On $27,000 Handle Amid Debt Ceiling Concerns Details

Although Kendrick said the probability of this default is a low-probability, high-impact event, his prediction has generated significant interest within the crypto and Bitcoin communities as some begin to theorize the potential impact of the worlds superpower defaulting on its debt obligations on the broader financial landscape.

Any such event would result in economic turmoil and an inevitable loss of faith in traditional financial systems that would most likely drive investors towards alternative assets, mostly cryptocurrencies.

Considering Bitcoins stature and setup as a safe haven, the coin, in Kendricks view, could benefit, subsequently posting significant gains.

Feature From Canva, Chart From TradingView

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Billions Of Dollars Tokenized Bitcoin Moved To Ethereum, BSC, And Solana - NewsBTC