Ndax Weekly TL;DR December 23rd

Every Monday, we cover the latest developments and trends in the dynamic and ever-evolving world of cryptocurrency. From price movements, industry news and our favorite resources, we strive to provide our readers with a comprehensive overview of the crypto landscape. 

Happy Monday, Ndaxers— Here’s what happened last week:

Top Stories

  • Charles Hoskinson Advocates Relocation of Cardano Foundation
  • Phishing Scammers Target Ledger Users with Fake Data Breach Emails
  • Pyth Network Introduces On-Chain Real-Time Oil Data for Over 80 Blockchains
  • Shiba Inu Partners with Chainlink to Enhance Cross-Chain Functionality
     

Cardano founder Charles Hoskinson has urged the Cardano Foundation to move from Switzerland to jurisdictions like Abu Dhabi or Wyoming to enable community-driven governance. In a Dec. 18 post, Hoskinson criticized the Swiss government-appointed board model and encouraged the community to push for a governance structure allowing member participation. He suggested collaborating on a new framework fostering transparency and inclusivity, reflecting growing criticism over the Foundation's governance and internal conflicts. The Foundation plans to address these concerns in upcoming public forums. CryptoSlate

Phishing scammers are impersonating Ledger’s support emails to trick users into revealing their private seed phrases. Fake emails claim a "recent data breach" and direct recipients to a counterfeit Ledger-branded website. The site prompts users to "verify" their wallets by entering their recovery phrases, potentially granting scammers access to funds. Ledger has reaffirmed it will never request users’ 24-word recovery phrases, urging vigilance against phishing attempts. The scam follows a broader trend of phishing campaigns during the holiday season, as crypto-related scams adapt to exploit online activity. Cointelegraph

Pyth Network, a decentralized oracle provider, has launched real-time data feeds for West Texas Intermediate (WTI) and Brent Crude Oil, marking a significant step in bridging traditional finance and decentralized solutions. The new service aggregates pricing data from multiple trusted financial sources, making it accessible across over 80 blockchain ecosystems. This development enables decentralized finance (DeFi) applications to incorporate energy market instruments, such as derivatives and perpetual futures, expanding opportunities for both retail and institutional investors. Cointelegraph

Shiba Inu has partnered with Chainlink to enhance its decentralized finance (DeFi) strategy, integrating Chainlink’s Cross-Chain Token (CCT) standard and Cross-Chain Interoperability Protocol (CCIP). These upgrades allow Shiba Inu’s tokens—SHIB, LEASH, and BONE—to operate seamlessly across 12 blockchains, enabling smoother token transfers and broadening its ecosystem’s reach. The collaboration also incorporates Chainlink’s low-latency market data, facilitating the development of scalable, secure cross-chain applications. CryptoSlate

Latest News

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News Nuggets

  • Injective and Sonic Launch Crosschain AI Agent Hub for Solana-Based Applications Cointelegraph 
  • Fed Chair Jerome Powell Affirms Bitcoin Ownership Lies Outside Central Bank’s Authority Cryptonews 
  • Avalanche Launches Major Upgrade 'Avalanche9000' to Boost Developer Engagement and Reduce Transaction Costs CoinDesk 
  • Aave’s Proposed Redeployment of Polygon Bridge Stablecoins Spurs Community Debate Cointelegraph 
  • El Salvador Boosts Bitcoin Purchases Following IMF Agreement cryptonews 
  • Ohio Lawmaker Introduces Bill to Allow State to Purchase Bitcoin as Part of Treasury Reserves Cointelegraph 
  • North Korean Hackers Double Crypto Theft to $1.3B in 2024, Chainalysis Reports Cointelegraph 
  • Craig Wright Given Suspended One-Year Sentence for Satoshi Fraud Case Contempt Cryptonews

Weekly Moves

As of 12-23-2024 at 8:25 AM EST

Market Summary

  • Over the past seven days, the global cryptocurrency market capitalization has decreased from CA$5.39 trillion to CA$4.77 trillion.
  • Bitcoin's market dominance stands at 57.3%, while Ethereum's share is 12.1%.

Performance

  • Over the past 24 hours, the price of BTC has fluctuated between CA$134K and CA$139K registering a 6% change over the past week and a market cap of CA$2.7 trillion. (At time of writing)

Visit our new markets page offering real-time data for almost 15,000 cryptocurrencies. Track trends, monitor your favorite cryptocurrencies, and stay ahead of the market. 
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Upcoming Events

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  • Dec 26: US Initial Jobless Claims Announcement

Recently on Ndax

We are excited to share a historical moment in Ndax’s journey in Canada. Ndax has officially been granted registration as an Investment Dealer and has obtained membership with the Canadian Investment Regulator Organization (CIRO) and had been recognized as a Marketplace that is an Alternative Trading System (ATS) in all provinces and territories in Canada. To learn more click here.

From Ndax Lighthouse

This week's blog, Tangibles and Tech: Exploring the RWA and DePIN Landscape, delves into the evolving intersection of Real-World Assets (RWAs) and Decentralized Physical Infrastructure Networks (DePIN). By reading this post, you'll gain a deeper understanding of how these concepts bridge the gap between the digital finance world and the physical economy. To learn more click here.

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Happy trading, 
The team at Ndax


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Disclaimer: This article is not intended to provide investment, legal, accounting, tax or any other advice and should not be relied on in that or any other regard. The information contained herein is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of cryptocurrencies or otherwise.