Bitcoin

Bitcoin.com Announces Strategic Partnership With Poly Network

press release

Join the Verse public token sale now and purchase VERSE tokens using BTC, BCH, ETH and USDT/USDC. Sale closes Dec 1 at 0: 00 UTC.

Bitcoin.com, a digital ecosystem that offers secure self-custody solutions for users to easily interact with cryptocurrencies, has formed a mutually beneficial strategic partnership with Poly Network to support Bitcoin.com’s Verse ecosystem.

Poly Network is a decentralized and trustless interoperability protocol for heterogeneous blockchains, which has so far integrated support for over 130 tokens.

Verse is Bitcoin.com’s ecosystem token that will launch following the public sale, currently live at getverse.com. Verse will fuel the growth and expansion of Bitcoin.com‘s ecosystem, which includes over 35 million self-custody wallets created in its multi-chain DeFi-ready mobile app, and an award-winning news portal with over 2.5 million monthly readers. Verse will be a platform that provides access to new services and acts as the foundation for other initiatives. This will ultimately increase access to decentralized technology and finance. By interacting with the Verse DEX, staking VERSE, receiving cash back in VERSE, and using the VERSE token as collateral in various lending pools, Bitcoin.com‘s millions of users will be able to take full advantage of their time spent engaging with the platform.

With the support of Poly Network, multiple application scenarios are enabled for VERSE to be used as an asset throughout DeFi. These scenarios include DEX trading and lending across different heterogeneous blockchains as well as within Layer 2 ecosystems.

“Poly Network is one of the best bridges, enabling transfer of both tokens and NFTs across multiple networks with no gas fees,” said Dennis Jarvis, CEO of Bitcoin.com. “This strategic partnership is not only an effective means of increasing the utility and liquidity of VERSE, but an expression of support for Verse’s mission to enhance economic freedom.”

John Wang, Poly Network’s founding member commented, “Verse will fuel Bitcoin.com‘s already successful ecosystem of crypto products. These products are self-custodial and multi-chain and DeFi-centric. We are firm believers in them. Poly Network hopes to lay a solid interoperability foundation to ensure the whole ecosystem will be vibrant and thrive.”

Bitcoin.com‘s Dennis Jarvis added, “We’re looking forward to exploring additional future collaborations between Bitcoin.com, Verse, and Poly Network with the goal of bringing affordable access to blockchain for everyone. Affordability is a significant barrier to mass DeFi adoption and overcoming it will ultimately create more economic freedom.”

VERSE will provide value to those interacting with the Verse DEX, Ethereum blockchain, and broader DeFi ecosystem. Through the Verse Development Fund, the VERSE token will be a catalyst for initiatives that accelerate growth and innovation within DeFi.

The Verse public token sale is currently underway at getverse.com, where 2% of the token supply is up for grabs in a dynamically priced sale that could see public sale buyers pay a lower price per token than those who purchased in the first round.

About Poly Network

Poly Network is a global cross-chain protocol for implementing blockchain interoperability and building Web3.0 infrastructure. Its unique blockchain and cross-chain bridge technology allow transactions to be made between heterogeneous chains. This includes mainstream public chains as well as the protocol layer. Poly Network has integrated 35+ blockchains to date, including Ethereum, Aptos, Polygon, Avalanche, Fantom, BNB Chain, Arbitrum, Optimism, OKC, Neo, Zilliqa, Metis, etc. Since its launch, the protocol has enabled cross-chain asset transfers of a value in excess of USD 16 billion.

Bitcoin.com

Since 2015, Bitcoin.com has been a global leader in introducing newcomers to crypto. We make it simple for anyone to use our easy-to-use educational materials, get timely and objective news and have intuitive self-custodial products.

Image Credits: Shutterstock, Pixabay, Wiki Commons

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XCN defies Bitcoin and Ethereum slump with 97% spike

Onyxcoin (XCN) has risen 97% in the past 24 hours as altcoins enjoy massive buying pressure. The XCN price bucks the trend that saw Bitcoin and Ethereum down after notable gains a day earlier. Tariffs and other market conditions weigh on investor sentiment. Onyxcoin (XCN) has defied a dip for Bitcoin, Ethereum, and top altcoins…

Onyxcoin (XCN) has risen 97% in the past 24 hours as altcoins enjoy massive buying pressure.
The XCN price bucks the trend that saw Bitcoin and Ethereum down after notable gains a day earlier.
Tariffs and other market conditions weigh on investor sentiment.

Onyxcoin (XCN) has defied a dip for Bitcoin, Ethereum, and top altcoins with an impressive 97% over the past 24 hours.

In a price rally that put it on top of the daily gainers’ list, XCN shot up to an intraday high of $0.017.

The performance bucks the downward pressure that has seen Bitcoin (BTC) and Ethereum (ETH) pare gains from a day ago with dips below $80k and $1.5k, respectively.

XCN price performance

The XCN token’s standout performance sees it outpace Flare, Kaspas, and Walrus, among other notable gainers.

According to data from CoinMarketCap, XCN is currently trading at $0.017, with its volume up 1,230%.

The token’s market, though tiny at $531 million, is up 97% and puts Onyxcoin in the top 100 by market cap.

XCN has flipped Floki and CORE, which currently rank 100th and 99th by market cap, respectively.

Onyxcoin’s massive spike comes despite a broader risk market downturn in the past 24 hours.

BTC, ETH, and other coins’ dip has seen the global cryptocurrency market cap drop by 3.9% to $2.52 trillion.

Volume is down 20% to about $127 billion as crypto mirrors losses on Wall Street.

Overall market outlook

Crypto and the stock market rose sharply on Wednesday after US President Donald Trump changed his tariffs stance.

His announcement of a 90-day pause sent risk assets skyrocketing, with Bitcoin’s price breaking to above $82k.

S&P 500 and the Dow Jones Industrial jumped, rising by historic single-day gains.

However, the S&P 500 and Dow opened lower on Thursday and looked to close lower with 3.2% and 2.4 %, respectively.

Dow was down more than 900 points.

On Thursday, Trump announced an additional 25% tariff on China, bringing this to 145%.

After excluding it from the 90-day pause, analysts say the trade war will continue to hurt optimism.

This looks to be the case as stocks sold off despite the latest inflation report that showed CPI dropped to 2.4% against an expected 2.6%.

While this sees many turn to the Federal Reserve for expectations of interest rate cuts, analysts are pointing to “sticky” prices and tariff impact for likely pressure on equities and crypto. Analysts point to a potential bull trap.

Peter Schiff said via a post on X:

“I’ve never seen such a mass selloff of US assets. The US dollar, bonds, and stocks are all getting killed. I can’t remember when the dollar lost 3.5% against the Swiss franc in one day. America’s ride on the global gravy train is about to come to a screeching halt. Buckle up.”