Decentralized Exchange GMX Connects to Chainlink's Low-Latency Oracles
The Algorand Foundation, along with several other major creditors, has indicated a preference for liquidation over restructuring for troubled Singaporean crypto lender Hodlnaut. According to a court filing, the creditors have claims worth $228 million Singaporean dollars (US$170 million). The Algorand Foundation declared $35 million in exposure to Hodlnaut in September. The decision to oppose restructuring comes as Hodlnaut's judicial managers have stated that there is no 'white knight investor' for the lender, leading to an absence of fresh capital. Creditors initially indicated a preference for liquidation in January, with the Algorand Foundation stating that liquidation would 'maximize the company's remaining assets available for distribution.' The Algorand token (ALGO) is currently trading at 18 cents, having dropped by 3.34% in the past 24 hours, according to CoinDesk data.deBridge, a cross-chain bridging service, has launched DLN Trade, a cross-chain exchange offering capital-efficient and fast native trading across various blockchains. The app supports Ethereum, Arbitrum, Polygon, Fantom, BNB Chain, and Avalanche, and uses a global liquidity engine to create a decentralized order book, enabling any asset on one chain to be traded directly to any asset on another without the bottlenecks and risks of liquidity pools. This allows for unprecedented speed, capital-efficiency, and control for users, with trades protected from slippage, MEV, and the possibility of reversion, and guaranteed rates as low as 4bps. Users can also set cross-chain limit orders and cancel at any time before fulfillment. The app makes it possible for users to trade across chains without exposure to wrapped assets or liquidity pools, unlike other services on the market. Edited by Oliver Knight.Investors are flocking to meme coins like Pepecoin (PEPE) and other newly issued tokens in the hopes of replicating the success of the controversial cryptocurrency. However, the trend has the potential to disrupt the huge rallies bitcoin and ether have seen this year. Despite the shocking magnitude of PEPE's rise, finding the next big meme coin is next to impossible, with every winner surrounded by the ashes of many failures. On-chain data makes it easy to track whale activity, and several newly issued meme tokens have surpassed PEPE in trading volume over the past weekend. The meme coin trend has essentially created a black hole that sucks liquidity out of the market, potentially impediment for other cryptocurrencies like bitcoin (BTC) or ether (ETH).