TLDR Crypto Daily Update 2022-09-06

Binance removes USDC πŸͺ™, recurring Lightning payments ⚑, ENS tops OpenSea volume πŸ“ˆ

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Markets & Business

Russia To Legalize Use Of Cryptocurrency In International Trade (2 minute read)

Russia has acknowledged that it may be necessary for the country to legalize the use of cryptocurrencies in cross-border settlements. The country has been seeking alternatives to the US dollar to guarantee efficient trades of its commodities due to Western sanctions. President Vladimir Putin last year dismissed the possibility of using bitcoin in the oil trade. Russian authorities are still deciding how to best regulate cryptocurrency markets.

Binance, Issuer of 3rd Biggest Stablecoin, to Stop Supporting Larger Rival USDC (2 minute read)

Binance has effectively banned USDC, USDP, and TUSD from trading on its exchange. Customers' holdings of USDC will be converted to Binance's BUSD on September 29. Customers can withdraw their current holdings, but incoming transfers will be automatically converted to BUSD. USDC's issuer Circle is considering an IPO. BUSD is currently the third largest stablecoin with a market cap of $19.5 billion.
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Innovation & Launches

Introducing Recurring #Bitcoin Lightning Payments (2 minute read)

CoinCorner has introduced recurring Bitcoin Lightning Payments. The feature enables standing orders, direct debits, or subscription-based payments. Merchants control the parameters, so they can change the amounts to be paid. The system allows for microtransactions as it uses the Lightning Network.

Introducing Granular (2 minute read)

Granular is an NFT automated market maker that is on-chain, gas-efficient, and preserves NFT values. Every collection on Granular has a single master pool used for trading and liquidity. Listed NFTs inside these pools can have different prices which users can readily buy or sell at. These pools are further divided into sub-pools based on desirability. Each sub-pool has its own bonding curve. More details about the AMM are available in the thread.
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Guides & Resources

Building a Full Stack Web3 YouTube Clone with Next, IPFS, The Graph, Solidity, and Polygon (23 minute read)

The demand for web3 skills is increasing and the best way to improve these skills is to use them to create projects. This tutorial teaches readers how to build a full-stack YouTube clone on top of the Polygon blockchain. It covers frontends, smart contracts, file storage, data querying, Ethereum development environments, and more.

Ethereum Censorship: Is It Even Possible and What Should You Know? (7 minute read)

Concerns over censorship on the Ethereum network have increased since the OFAC placed sanctions on Tornado Cash. Many large validators have decided to continue to run their staking businesses uncensored until authorities demand censorship. The upgraded Ethereum network has built-in mechanisms to punish bad validators. Validators that decide to censor the network will cause a split in the chain. Split chains will need significant support to survive.
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Miscellaneous

Ethereum Domain Names Top NFTs as Most Traded Asset on OpenSea (3 minute read)

Ethereum Name Service domains are now the number one collection on OpenSea. The collection has passed the Bored Ape Yacht Club collection in seven day volume. ENS trading volume increased 43% week-over-week while BAYC saw a parallel 43% drop. Nearly 9,000 ENS domains were traded over the last week compared to 16 BAYC NFTs. The floor price for ENS domains is less than 0.01 ETH while the lowest price for a BAYC NFT is 76 ETH.

FTX to halt Ethereum trades on Arbitrum, Solana, BSC for the ETH Merge (2 minute read)

FTX will suspend ETH deposits, withdrawals, and trading on multiple blockchains until the Merge is finished and networks are stable. The Merge is designed to transition the Ethereum network to Proof-of-Stake without any downtime. The trade suspensions will commence at different times for each blockchain and are subject to change. Trade suspensions are set to begin on September 7 for the Arbitrum One network. They will begin on September 15 for Solana and Binance Smart Chain.

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Quick Links

The Stride mainnet is now live (2 minute read)

Stride allows ATOM to be liquid staked in the Cosmos ecosystem.

Terra Launches Second LUNA Airdrop to Repay Holders (2 minute read)

Claims are now live for Terra's second airdrop of its new LUNA token.

74% of Ethereum nodes β€˜Merge ready’ ahead of Bellatrix upgrade (3 minute read)

Data from Ethernodes indicates that as many as 73.5% of Ethereum nodes are ready for the Bellatrix upgrade scheduled for today.

Trezor and Wasabi Join Forces To Make Bitcoin More Private (2 minute read)

Trezor and Wasabi have partnered to bring CoinJoin mixing to Bitcoin transactions on Trezor's hardware wallets.

Keep Up With Crypto in Just 5 Minutes

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