This Week in Signal Teams — IOTA, Oasis, Injective
Every week we comb through hundreds of FTX Signals to bring you the most significant team updates with brief analyses to help you understand the latest developments in blockchain.
Macro Crypto News This Week
- Lightning Network capacity hits new all-time high of over 4,700 BTC
- Facebook and Instagram add support for NFTs
- Iran approves trading, mining, and paying for imports with crypto
- Web3 gaming firm Limit Break raises $200 million across two rounds
- Argentina’s Mendoza province now accepting crypto for taxes and fees
- Ethereum miner balance reaches four-year high weeks before the Merge
- Ticketmaster to release tickets as NFTs
- Former CFTC commissioner Sommers joins FTX US Derivatives board
Top FTX Signals This Week
- IOTA is Bringing DLT to E-Commerce Security
- Oasis Launches Sapphire, the Industry-First Confidential EVM ParaTim
- Injective Protocol Announces Helix DEX is Live
IOTA is Bringing DLT to E-Commerce Security
“The ENSURESEC project has crossed the finishing line and been reviewed by the EU Commission. IOTA contributed to safeguarding the EU’s digital single market’s e-commerce ecosystem.”
— Thabata Dias, Social Media Manager
Summary
- The H2020 ENSURESEC project to safeguard the EU’s digital single market’s e-commerce ecosystem has recently received its Final Assessment from European Commission’s reviewers. The consensus is that the project successfully achieved all expected outcomes while the work developed by the IOTA Foundation with the project’s partners will pave the way for future adoption of decentralized identifiers in the identity space.
- A distributed ledger can guarantee the immutability of shared information, while decentralized identities can identify and verify both the source generating the data and the tool that processes it. While the first property guarantees data integrity, the second allows us to manage access control, thus preventing relay and replay attacks.
- IOTA created a solution for securing data exchanged in the e-commerce ecosystem. This solution builds on two new DLT-based microservices: the Audit Trail Gateway and the Self-Sovereign Identity Bridge.
Significance
This project demonstrates how IOTA Tangle, IOTA Streams and IOTA Identity can be “a tool for other tools” in the e-commerce infrastructure. It paves the way for future contributions in both an EU and enterprise context and is likely to increase the adoption of IOTA tools for institutional-level cybersecurity.
Price at the time of FTX Signal: $0.28. View IOTA on FTX.
Oasis Launches Sapphire, the Industry-First Confidential EVM ParaTime
“Sapphire is here to scale web3. As our technology and industries moves towards web3, data ownership and privacy are musts. Sapphire combines privacy-preserving technology with EVM-compatibility to forge the pillar of privacy for web3.”
— Gina Tiriakidou, Head of Marketing
Summary
- Oasis recently launched Sapphire on testnet as a way to offer blockchain developers the opportunity to build confidential dApps.
- With traditional blockchains, user data is publicly stored, but Sapphire allows for dApps to be built that can make data confidential, while still executing smart contracts.
- Sapphire offers Solidity developers a familiar, Ethereum-compatible building environment, but with the added benefits of Oasis’ privacy technology which is key to allowing blockchain to be part of Web3.
Significance
Sapphire is the first confidential Ethereum Virtual Machine (EVM) compatible ParaTime.Confidential dApps are becoming a necessity in Web3 as people value data sovereignty highly. Sapphire offers the ability to help scale blockchain rapidly towards Web3 and allow EVM developers to quickly lay the foundations for privacy-enabled blockchain dApps.
Price at the time of FTX Signal: $0.30. View ROSE on FTX.
Injective Protocol Announces Helix DEX is Live
“Helix is now live on Injective! Injective Pro is rapidly expanding its overall vision and capabilities to become Helix: The Premier Decentralized Crypto Exchange.”
— Eric Chen, Co-Founder
Summary
- Helix is the premier platform for trading unlimited cross-chain crypto assets and perpetual markets with market-leading rebates. Helix brings forth a completely redesigned exchange, advanced order types, a brand new Convert interface, trading histories, and reward tracking.
- Helix is powered by the interoperable Injective blockchain which can natively support a wide array of assets such as Cosmos, Ethereum, EVMOS, and Moonbeam. Helix also features a simple portfolio to help organize and bridge assets via a host of crypto wallets, creating a seamless end-user experience for all traders.
- The new app will bring zero gas fees, best-in-class security, lightning-fast speeds, cross-chain assets, and market-leading rebates.
Significance
Helix represents a major evolution in the Injective dApp ecosystem to date, with new features and optimizations that can help to make Helix the optimal gateway to bring crypto trading to the masses.
Price at the time of FTX Signal: $1.52. View INJ on FTX.
Quotes of the Week:
“Bitcoin is a remarkable cryptographic achievement and the ability to create something that is not duplicable in the digital world has enormous value.”
— Eric Schmidt, Former Google CEO
“Russia needs to adopt digital assets to “guarantee uninterrupted payment” for imports and exports.”
— Russian Prime Minister
“One of the reasons I’ve taken an interest in Bitcoin as an asset the United States needs to nurture is because I’m concerned that the US dollar is losing value all the time.”
— US Senator Lummis
Chart of the Week:
The Mayer Multiple measures the range between the Bitcoin price and the 200-day moving average. When the Mayer Multiple is at 1, the Bitcoin price is equivalent to the 200-day moving average. The Mayer Multiple is currently at 0.64, a level only seen historically during Bitcoin price bottoms. Put another way, the Bitcoin price is about as far below the 200-day moving average as it has ever been and this typically represents long-term buying opportunities.
Thanks for joining us and we look forward to bringing you our top FTX Signals again next week.
Jason Hamlin
Ecosystem Insights @ FTX
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