Author: Coin Telegraph

Agora, a stablecoin company, has introduced its AUSD stablecoin as the native currency for Polygon’s AggLayer, a crosschain settlement network, to enable multichain transactions via a stable, fiat-backed asset.The partnership aims to eliminate the need for token bridges, simplifying and unifying liquidity for developers and end-users in the AggLayer community onchain.Agora is a stablecoin startup co-founded by Nick van Eck, Drake Evans and Joe McGrady. Custodians, including State Street and VanEck, back its institutional-grade stablecoin AUSD.The development is significant for users of the AggLayer — designed to enable different chains to connect and interact — as it pushes to make…

While some investors hold back from buying Bitcoin when it reaches new highs, MicroStrategy has doubled down, demonstrating a strong commitment to the cryptocurrency.In a Nov. 11 announcement, the business intelligence firm turned Bitcoin (BTC) investor said it bought 27,200 Bitcoin for about $2.03 billion in cash. MicroStrategy purchased the coins between Oct. 31 and Nov. 10, at an average price of $74,463 per BTC, including fees and expenses.With the latest purchase, the company now holds a total of 279,420 BTC, worth nearly $23 billion at current market prices.Selling shares to buy more BitcoinAccording to MicroStrategy, the BTC purchases were…

Near Protocol has unveiled a crosschain AI agent in alpha that can launch memecoins in seconds and search the web to buy products for fiat.Additional functionality is coming soon that is expected to enable users to book flights or order takeaway food on Web2 sites.The NEAR.AI Assistant was launched by co-founder Illia Polusukhin at the Redacted conference in Bangkok on Oct. 10, where the protocol also announced an ambitious plan to build the world’s largest open-source AI model. Polusukhin demonstrated the capabilities of the AI Assistant by using it to spin up a backstory, website and logo for a new Frog…

A single, long-dormant string of code, hidden deep within the original Bitcoin stack, can introduce a suite of new functionality that could potentially see the Bitcoin network rival Ethereum in terms of decentralized finance (DeFi) activity. The upgrade is called “OP_CAT” (short for operation code concatenate) and refers to a few simple lines of code originally introduced by Satoshi Nakamoto. This code was part of Bitcoin’s initial scripting system and effectively increased Bitcoin’s transaction utility and expanded the variety of operations users could perform with Bitcoin. However, Nakamoto was initially worried that OP_CAT could expose the Bitcoin network to security risks, including…

Cointelegraph has announced that Rooch Network, a blockchain project building a native application layer for the Bitcoin ecosystem, has joined the Cointelegraph Accelerator program.Bitcoin (BTC) was conceived as an alternative payment system, a digital cash. With a gigantic increase in value over the years, BTC rapidly became an appealing investment vehicle. Thus, the original cryptocurrency is primarily used for transacting and investing.However, as the role of Bitcoin as a store of value grew, its potential in decentralized applications (DApps) was hindered by technical constraints. While Ethereum and other blockchains have found ways to adapt and support DApps and smart contracts,…

The Conflux Foundation plans to invest $500 million to support the growth of PayFi, short for Pay Finance, a Web3 payments solution.Conflux’s $500 million investment will come from its ecosystem fund and will go toward developing PayFi, a blockchain-based payments platform that aims to bring traditional finance services to the blockchain.PayFi aims to create a “more integrated value network,” by bringing financial products like credit cards, invoice financing and reverse factoring onto the blockchain, Conflux Foundation announced on Nov. 11.The Conflux PayFi Stack. Source: Medium.comThe PayFi stack is built on the Conflux blockchain, a layer-1 network focused on stablecoin and…

Edward Snowden, the privacy advocate and former National Security Agency (NSA) contractor, addressed decentralization during his appearance at Near’s Redacted conference in Bangkok, Thailand.Speaking on topics like cryptocurrencies, artificial intelligence and blockchain technology, Snowden also addressed the impact of venture capital (VC) on blockchain projects, using Solana as an example.He described Solana as “born in prison” due to its heavy VC funding, suggesting that financial backing can impede a blockchain network’s ability to operate independently.While he acknowledged Solana’s rapid growth, Snowden expressed concerns that too much ownership has been ceded to investors, though he noted Solana could “become something” in…

Cryptocurrency investors maintained strong interest in digital investment products last week, driven by post-election market momentum.Crypto investment products saw $1.98 billion in inflows from Nov. 3–9, pushing global assets under management to a record high of $116 billion, CoinShares reported on Nov. 11.This marks the fifth consecutive week of inflows, totaling $7.7 billion — 24% of the $31.3 billion recorded in 2024 so far.Bitcoin ETF trading in the US leads the inflowsIn line with previous CoinShares reports, spot Bitcoin (BTC) exchange-traded funds (ETF) trading in the United States led the inflows in crypto products last week.Bitcoin saw inflows of $1.8…

The total crypto market capitalization is up 1.85% over the last 24 hours to rest at $2.77 trillion on Nov. 11. The overall trading volume has also jumped 75% on the day to $235 billion, reinforcing November’s bullish momentum.Bitcoin (BTC), the largest cryptocurrency by market capitalization, has risen 2.8% over the last 24 hours to trade at $81,587, just below the $81,858 all-time high set during the early Asian trading hours on Nov. 11. Related: $80K BTC price chases gold — 5 things to know in Bitcoin this weekEther (ETH), the second-largest crypto, dipped 0.91% to trade at around $3,166 at…

Bitcoin is trading in uncharted territory, potentially approaching the six-figure price tag for the first time in history.The Bitcoin (BTC) price broke above a new high of $82,410 at 10:19 am UTC on Nov. 11, Bitstamp data shows.BTC/USD, 1-month chart. Source: TradingViewHowever, this may only be a pitstop for the Bitcoin price, which is expected to breach the $85,000 high within the next week, according to Ryan Lee, the chief analyst at Bitget Research.Lee told Cointelegraph:“This week, we expect the volatility of BTC and ETH to continue to increase, with potential upward breakthroughs followed by rapid corrections. The predicted range…