According to Wu Blockchain: "The burning amount of Ethereum reached 3040 on February 2, reaching a new high since November 10 last year. The main burning sources are Uniswap and OpenSea. The cryptocurrency greed index has remained around 60 for several days."

According to data from Coinglass, the funding rate for ETH on Binance is still positive. To assess the sentiment of leverage traders, analysts monitor the funding rate. The more excited that traders are about price prospects and the more willing they are to pay a premium to maintain their upside bets, the higher the funding rate.

The introduction of nonsynthetic stablecoins on the Cardano (ADA) network has been highly anticipated, and the wait has come to an end with the launch of Djed, a stablecoin developed in partnership between Coti and IOG. This decentralized stablecoin aims to maintain its value close to $1 through the use of cryptocurrency reserves.

To ensure stability in a volatile cryptocurrency market, Djed has a minimum collateral requirement of 400% of its issued value. This substantial cushion of collateral protects against market fluctuations, avoiding a situation similar to the Terraform Labs stablecoin collapse in 2022 that resulted in billions of dollars being lost from the cryptocurrency market in just a few days. The stability of Djed will be supported by the use of an asset known as SHEN. Get to know SHEN SHEN reinforces the reserve rate of Djed's smart contract, providing added stability to the stablecoin. When purchasing Djed, the smart contract automatically converts the deposited ADA into the stablecoin, turning it into a liability.

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According to SIMBA Chain, the investment will go toward developing blockchain applications that will be used by several government organizations.

Blockchain solutions provider SIMBA Chain has been selected for a $30 million Strategic Technology Focus Initiative (STRATFI) by the United States Air Force (USAF). The initiative is focused on identifying and advancing technologies that could secure the future dominance of the U.S. Air Force.

According to the announcement, the investment will be used to develop blockchain applications in supply chain management and programs that will be used by several government organizations, including the Office of the Undersecretary of Defense for Research & Engineering, the USAF, the U.S. Navy, the U.S. Army and the Defense Logistics Agency.

SIMBA Chain has a long-standing relationship with the Department of Defense, having developed various blockchain applications to improve critical USAF activities, such as budget tokenization for better accounting and tracking of essential components for the air service branch. The STRATFI initiative will accelerate the development of SIMBA’s blockchain platform, SIMBA Blocks, which supports the USAF’s strategic mission.

Bryan Ritchie, CEO of SIMBA Chain, views the STRATFI initiative as a strong demand signal for blockchain technology and an opportunity to increase adoption within the commercial industry. He said, “Given the interconnectedness of the DoD supply chain, it also signals an opportunity to collaborate and increase adoption within the commercial industry.”

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Little known outside of Japan, Astar Network, a blockchain in the Polkadot (DOT) ecosystem, has gotten noticed by one of the world’s largest private enterprises: Toyota Motor Corporation.

A developer hackathon, which starts on Feb. 25, will be held in a metaverse environment on the Astar Network with Toyota as its main sponsor and one of the judges evaluating participating teams.

The amount of Toyota’s sponsorship was not disclosed, but the Astar Foundation and the Polkadot-focused Web3 Foundation are kicking in $75,000 and $25,000, respectively.

Making it in Japan

Shun Ishikawa, chief operating officer at Astar Network, told Blockworks that the Japanese market is “unique” on account of “its inherent language and cultural differences.”

“Entering and doing business in the Japanese market is very different from doing it in other countries,” he said.

Astar’s founder Sota Watanabe hails from the country, and Isikawa said the team works closely with top Japanese brands and Japanese politicians, helping Astar to become a leader in the Japanese blockchain market.

A non-scientific Twitter poll by the Japan Blockchain Association (JBA) in December found that, of 332 respondents, a plurality chose Astar as the chain they would most like to use over alternatives Polygon, Solana and Avalanche.

It was also chosen as “product of the year” for 2022 by the JBA. Watanabe was the JBA’s “person of the year.”

He appeared on the most recent cover of Forbes Japan, and regularly touts his political connections on Twitter.

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A community "temperature check" vote to see which cross-chain bridge would be utilized for decentralized exchange Uniswap's third iteration swung decidedly in favor of Wormhole. But there's a catch.

Today's outcome isn't technically final. An official vote to approve Wormhole as a bridge between Ethereum and the BNB chain is yet to come.

But a behind-the-scenes fight among deep-pocketed crypto investors could potentially swing the outcome in a different direction, three sources tell The Block — with hundreds of millions of dollars at stake.

The fight involves venture capital firms a16z and Jump, which back LayerZero and Wormhole, respectively. A source with knowledge of the process told The Block that a16z, which has 15 million voting tokens, could not participate in the temperature check due to the custodial set-up of its tokens.

Eddy Lazzarin, an investing partner at a16z, appeared to confirm the issues in a forum post, saying that the firm was unable to participate in the temperature check.

"To be totally unambiguous, we at a16z would have voted 15m tokens toward LayerZero if we were technically able to. And we will be able in future Snapshot votes," Lazzarin wrote. "So, for the purposes of a 'temperature check,' please count us this way."

The Uniswap Foundation, another source said, hasn't said whether it will honor that written commitment to LayerZero. According to today's official tally, Wormhole won the vote by approximately 11 million token votes.

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Blockchain technology stands tall when considering its impact on social issues. One such cohort can be a corporate’s take on corporate social responsibility (CSR). This not only builds trust with respective clients but also boosts transparency.

The emergence of blockchain has led to changes and implementations across the globe within many sectors. From cybersecurity to gaming, all have incorporated blockchain in one way or another.

The corporate sector, in particular, has been fairly successful in separating the practical uses of the blockchain from the hype surrounding cryptocurrency and speculation. Many corporations and companies across the globe are starting to focus more time and energy on using blockchain technology for ‘corporate social responsibility’ (CSR).

At this point, CSR has become more than just a marketing strategy to promote a company. Fighting against global warming is probably the biggest example of CSR in recent times. Per a recent global CSR report, around 86% of respondents expected companies to participate in CSR-led changes focussing on social and environmental issues.

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New crypto narratives are emerging this year and decentralized finance (DeFi) derivatives are among them. The growth of previous years is likely to continue into 2023.

DeFi derivatives have had an explosive entrance into the crypto ecosystem. Despite the 2022 bear market, leading players have performed well.

Derivatives refer to investment vehicles such as futures, options, swaps, and other financial contracts which track or provide exposure to crypto assets.

Traditionally, derivatives trading has only been available to institutional traders. However, DeFi and DEXes have opened the digital doors for everyone to have a dabble

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Zcash (ZEC)

The crypto that was founded by Zooko Wilcox is a dual currency in the sense that it offers two different types of addresses.

Transparent addresses are visible on the chain whereas Zcash is a cryptocurrency that offers two types of addresses: transparent addresses that are publicly visible on the blockchain and private addresses that are not.

Zcash disburses 20% of mining revenue (Proof of Work) to fund three branches of the project.

8% of the above 20% went to Zcash Community Grant, 7% to support the Electric Coin Company, and 5% to support Zcash’s foundation.

As mentioned in the introduction, this week some cryptocurrencies have pulled the brakes and among them is Zcash which loses 6.33%.

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