🗞 Daily Crypto News, May, 5th💰

Welcome to the Daily Crypto News: A complete News Review, Coin Calendar and Analysis. Enjoy!

🗞 Uniswap v3 Comes Out Tomorrow. Here’s What to Expec

Uniswap version 3 adds concentrated liquidity, better oracles, and new fee tiers.

The decentralized exchange is competing with trading protocols such as SushiSwap and PancakeSwap for users.

With new products and features dropping every week in the nascent decentralized finance (DeFi) arena, the top decentralized exchange in the world can’t afford to rest on its laurels.

Tomorrow, Uniswap, which upgraded to version 2 last May, aims to release version 3 of its protocol, which promises to give users more control over the liquidity they provide and feature more upside for riskier trades.

DeFi is a multi-billion dollar industry that replaces traditional financial institutions, such as banks and brokerage firms, with automated code (i.e., smart contracts) built atop a blockchain network. Via DeFi, one can get loans, earn interest on holdings, swap tokens, and place bets on tokens’ future values. Ethereum has a $391 billion market capitalization, and over $77 billion in crypto is invested in Ethereum-based DeFi protocols, demonstrating how important the sector is to the blockchain’s growth (and, likely, its price).

The goal of Uniswap v3 is to make it “the most flexible and efficient AMM ever designed.”

The DEX is highlighting three new features.

The first is concentrated liquidity. “Automated market makers have historically required all [liquidity providers] to share identical strategies and deposit capital across the entire price curve from 0 to infinity,” Uniswap wrote in a March press release. “In doing so, they have failed to account for individual expectations of future price activity.” The upshot of concentrated liquidity is that traders don’t have to put as much capital on the line to achieve results.

In addition, Uniswap is adding more fee tiers so traders can determine their risk level when trading volatile assets, which are prone to changing prices in between when a trade is initiated and executed.

Lastly, it’s introducing “easier and cheaper” oracles—which make sure the price is up to date and therefore reduce the risk of getting burned by bad data.

🗞 Galaxy Digital to Buy BitGo for About $1.2 Billion in Stock, Cash

Galaxy Digital, the cryptocurrency-focused financial services firm run by Michael Novogratz, said it has agreed to buy BitGo, the U.S.-regulated crypto custody specialist, for $1.2 billion in stock and cash.

Under the terms of the deal, BitGo shareholders will get 33.8 million of newly issued shares of Galaxy Digital common stock and about $265 million in cash, giving it a transaction value of about $1.2 billion based on Galaxy Digital's closing share price on May 4.

"The acquisition of BitGo establishes Galaxy Digital as a one-stop-shop for institutions and significantly accelerates our mission to institutionalize digital asset ecosystems and blockchain technology," said Novogratz, Galaxy's CEO and founder.

🗞 Dogecoin Price Finally Tops 69c, Flips XRP to Become Top-4 Crypto

It didn’t happen on Dogeday, but ruffly two weeks after, the price of Dogecoin briefly exceeded 69c, the target the DOGE army had set for April 20 – 4/20 or “National Stoner Day.”

The gains continue the mind-blowing ascent of the meme-based cryptocurrency that is now the fourth-most valuable crypto in the world. DOGE is now up an eye-watering 13,611% year to date and is up 1,017% over a 30-day period, according to data at Messari.

By this metric, Dogecoin is now worth more than U.S. multinational delivery services company FedEx.

🗞 Nigeria's Cryptocurrency Traded Volumes on P2P Platform Top $1.5 Billion

ccording to Paxful, a peer-to-peer trading platform, Nigeria’s cryptocurrency traded volumes on the platform topped $1.5 billion in the first four months of the year 2021. This figure represents almost a third of Paxful’s global total volume of $5 billion. This latest traded volume figure once again reaffirms Nigeria’s status as one of the exchange’s biggest markets globally.

As one report explains, Nigeria’s latest total traded volume figure was generated by the platform’s approximately 1.5 million users. In total, Paxful had 6 million users globally by the end of April. In addition to Nigeria, the exchange’s other top four markets globally include the United States, China, India, and Kenya.

In the meantime, the report also shares Paxful CEO, Ray Youssef’s thoughts on why cryptocurrency use continues to grow globally. He said:

With crypto-currencies, we see an alternative, a way to rest the financial system based on equality. Our mission at Paxful is to give everyone equal access to finance no matter who they are or where they are so they can control their own money and build the future they want with financial freedom.

🗞 Daily Crypto Calendar, May, 5th💰

BasketCoin (BSKT)

Token Burn Incoming. BasketCoin's Burn - another event that will have a place during #BasketCoin Thunder Week. More to come.

Uniswap (UNI)

"Mainnet Launch Is Scheduled for May 5, with a Scalable Optimism L2 Deployment Set to Follow Soon After."

PumaPay (PMA)

"PumaPay V3.0 Huge Announcement"

Rich Maker (RICH)

"The very unique launchpad of Rich Maker Finance is almost here. You need to hold RICH to participate. RICH marines will have benefits"

Verge (XVG)

"AMA with Verge founder Alex Ederer, May 5 at 11 AM GMT"

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