DeFi News Official TheBitTimes.com

According to a Nov. 6 post on X, Cardano has chosen to use Substrate, the foundation of the Polkadot SDK, to build its partner chain project. This decision is said to come after four years of research, culminating in Cardano selecting Polkadot’s SDK, formerly Substrate, as the ideal choice due to its modular and flexible design. A self-sovereign blockchain A leading developer of Cardano, IOG goes on to describe Substrate as a “proven open-source modular framework” and will contribute a set of composable pallets to broaden its overall reach.” 1/ Cardano will use Substrate, the foundation of the Polkadot SDK, to build out its “partner chain” project — showcasing Substrate's potential to expand across Web3, and its ease of use for other chains and ecosystems ️ — Polkadot (@Polkadot) November 6, 2023 As stated by community member Goku, Midnight is likely the first adopter of these partner chain s, with a CEO who has roots back from Parity Tech. ...

Cardano (ADA) shark and whale addresses have amassed more tokens amid the persistent downturn, accumulating $116 million worth of ADA in two months. This accumulation trend coincides with a consistent rise in on-chain volume. Santiment disclosed on Aug. 8 that whale and shark addresses holding between 100,000 and 10 million ADA have been buying the dip. As a result, the rate of ADA’s circulating supply collectively held by these addresses has surged to levels not witnessed since September 2022.  As #Cardano sits just above $0.29, whales and sharks holding between 100K-10M $ADA have accumulated back to their highest level since September, 2022. Additionally, #onchain transaction volume has been rising nearly every week for the past 6 months. https://t.co/x9mUHDIhnx pic.twitter.com/X9WphDpPvy — Santiment (@santimentfeed) August 8, 2023 Similarly, transaction volume has continued to rise over the past six months. Following the low in February, transaction volume gai...

Bitcoin and select altcoins are showing signs of a possible recovery in the near term but higher levels may continue to attract sellers. As the year comes to an end, investors will be keenly watching for a Santa Claus rally on Wall Street as many believe that if the rally does not happen, the next year may either remain flat or turn negative.  Jurrien Timmer, director of global macro at asset management giant Fidelity Investments, tweeted on Dec. 19 that the United States equities Markets may remain “sideways” and choppy in 2023. He expects “one or more retests of the 2022 low, but not necessarily much worse than that.” Daily cryptocurrency market performance. Source: Coin360 The cryptocurrency market has been largely correlated with the S&P 500 in 2022. Unless both markets decouple, the sideways or negative action in the equities markets may not bode well for the cryptocurrency market. Analysts remain divided on the future price action for Bitcoin (BTC). While some expect a recov...