TerraClassicUSD (USTC) is up 35% after the re-peg proposal.
Even though many have lost hope in the Terra ecosystem, they have a community and they welcome the re-peg proposal. TerraClassicUSD (USTC) rose by 35% after it has been rolled out on October 9 by the blockchain engineer and senior developer at Bitcoin Suisse AG Tobias Andersen.
Tobias wants to reach a solution with the proposal that outlines the problem of enormous amounts of uncollateralized Terra Classic’s USTC stablecoin. The proposal may bring its price back to $1.
The collapse of Terra earlier this year caused many to lose money, for which the team is currently under investigation.
Coinbase got approval for a crypto license in Singapore.
The Singapore-based arm of the United States cryptocurrency exchange Coinbase got approval to provide crypto services in Singapore from the country’s central bank, the Monetary Authority of Singapore (MAS).
Coinbase’s vice president of international and business development Nana Murugesan commented: “Coinbase would focus more towards markets that have regulatory clarity when planning to expand further into Asia”.
Ethereum-scaling protocol zkSync’s layer-3 prototype set for testing in 2023.
A new layer-3 (L3) prototype can be solving Ethereum’s scalability issues. The launch of its L3 prototype can significantly improve the performance of the L2 solution by promoting competition.
zkSync is an L2 Ethereum scaling protocol designed to lower gas fee costs. The first version of zkSync launched in June 2020. Now the project is gearing up for the launch of zkSync 2.0 expected later this month.
The Layer-3 solution focuses on increasing blockchain performance in the areas of scaling, customization, and security. The team expects there to be around 150 dApps ready after the zkSync 2.0 launch.