Layer | Crypto

Aztec launched Ignition Chain, claiming the first fully decentralized Layer-2 on Ethereum with programmable privacy. The post Aztec Network Debuts First “Fully Decentralized” Layer 2 on Ethereum appeared first on Cryptonews.

Shiba Inu’s Layer 2 network, Shibarium, came under fire on Friday after a coordinated flash loan attack exploited its bridge, draining nearly $3 million. The post Shiba Inu’s Layer 2 Shibarium Targeted in Flash Loan Attack, Nearly $3M Drained appeared first on Cryptonews.

OKX, a cryptocurrency platform, has partnered with Tether, the issuer of the world’s most widely used stablecoin USDT, to bring USDT0, onto X Layer, OKX’s Ethereum Layer 2 network, as well as the OKX Wallet and Exchange. The post OKX Teams Up With Tether to Bring USDT0 to X Layer, Wallet and Exchange appeared first on Cryptonews.

$OKB has climbed on a token burn, a 21M cap, and X Layer’s launch as a gas token. Price has consolidated above $120–$122 and traded near $123 after meeting $130 resistance. OKX has begun OKTChain conversions, while on-chain data has shown ~17,900 holders and high address concentration.   The post $OKB Jumps Over 6% After 65M Token Burn and ‘X Layer’ Launch appeared first on Cryptonews.

OKB skyrocketed after OKX unveiled a 65 million token burn, a fixed 21 million supply and major upgrades to its Polygon-powered X Layer network. OKB, the native token of crypto exchange OKX, gained almost 160% on Wednesday after the platform revealed an overhaul to its blockchain ecosystem and tokenomics, including a major burn. The rally, which briefly pushed OKB (OKB) prices as high as $135 from a daily low of $45, came as OKX confirmed it will conduct a one-time burn of 65,256,712.097 OKB from historical repurchases and treasury reserves. After the burn, the total OKB supply will be fixed at 21 million. OKX also revealed that it will upgrade its zero-knowledge Ethereum Virtual Machine (zkEVM)-based public chain, X Layer, “to build it into a leading public chain with a dedicated focus on DeFi, payments, and real-world asset (RWA) applications.” Read more

The decision is due to declining usage of USDT on these networks over the past two years and as the company moves its focus to newer platforms such as Layer 2s.