Stablecoin provider UXD Protocol has raised $3 million in a funding round led by Multicoin Capital. The round also included Alameda Research, CMS Holdings, Defiance Capital, among others

Twitter seems to be developing functionality that enables users to add Bitcoin and Ethereum addresses to their profiles.

Just three months after a non-fungible token (NFT) representing an image of the original Shiba Inu dogecoin meme sold for about $4 million, the NFT is now valued at more than $225 million after part of its ownership sold for over 11,000 ether.

Top stories in the Crypto Roundup today:

• Solana Stablecoin UXD Raises $3M, Aims to Expand DeFi Outside Ethereum
• Twitter to Allow Users to add BTC and ETH Addresses to Profiles
• Record Doge NFT Sale Highlights Growing Demand for Fractionalization
• Crypto Market Movers – SOL, AVAX, AUDIO

Solana Stablecoin UXD Raises $3M, Aims to Expand DeFi Outside Ethereum

Stablecoin provider UXD Protocol has raised $3 million in a funding round led by Multicoin Capital. The round also included Alameda Research, CMS Holdings, Defiance Capital, among others. UXD Protocol is built on Solana, a blockchain network optimized for high throughput. Kento, the founder of UXD Protocol, stated:

“The funds from the raise will be used to hire developers and scale the team.”

Unlike traditional stablecoins, which are backed 1:1 with cash or cash equivalents, UXD’s offering is algorithmic. This means that the stablecoin maintains its peg by holding and balancing different cryptocurrencies as collateral. For now, UXD will only accept Bitcoin, Solana, and Ethereum as collateral.

Twitter to Allow Users to add BTC and ETH Addresses to Profiles

Twitter seems to be developing functionality that enables users to add Bitcoin and Ethereum addresses to their profiles. The latest update is believed to be a part of Twitter’s Tip Jar feature — which was introduced in May this year — and adds to reports which surfaced earlier this week that the firm would enable Bitcoin (BTC) tipping for content creators.

Alessandro Paluzzi, an Italian mobile developer and self-described “leaker”, tweeted screenshots that showed BTC and Ethereum (ETH) wallet address options in the settings toolbar of the app version of Twitter.

While the news is unofficial at this stage, Twitter’s product lead Kayvon Beykpour retweeted Paluzzi’s Sept. 1 post about the BTC tipping feature with the lightning and “soon” arrow emoji.

Record Doge NFT Sale Highlights Growing Demand for Fractionalization

Just three months after a non-fungible token (NFT) representing an image of the original Shiba Inu dogecoin meme sold for about $4 million, the NFT is now valued at more than $225 million after part of its ownership sold for over 11,000 ether.

Investors were able to boost the price of the doge NFT to a record high for NFTs in such a short time by fractionalizing it into nearly 17 billion tokens named DOG - with 20% of the supply for sale via a 24-hour auction that ended on Thursday.

The event reflects investors’ rapidly growing demand for fractionalized ownership of NFTs, a new, easier way to participate in the increasingly pricey and volatile NFT market. The trend has been rising in recent months, although critics have questioned potential risks around this NFT innovation.

Crypto Market Movers – SOL, AVAX, AUDIO

Several tokens are leading the charge in the last 7-day period. Some of these are well-known cryptocurrencies with more liquid trading pairs, so we’ll be focusing on these over low-cap cryptos that may have higher percentage changes.

Solana (SOL) - Solana is a high-performance blockchain founded by former Qualcomm, Intel, and Dropbox engineers that uses a delegated Proof-of-Stake (dPoS) consensus algorithm. The network uses a unique method of ordering transactions to significantly improve its speed and throughput. 

Avalanche (AVAX) - Avalanche is an open-source platform for launching decentralized finance applications and enterprise blockchain deployments in one interoperable, highly scalable ecosystem. Developers who build on Avalanche can easily create applications and custom blockchain networks with complex rulesets or build on existing private or public subnets.

Audius (AUDIO) - Audius is creating a decentralized & open-source streaming platform controlled by artists, fans, & developers. It provides users with the tools to gather their fans base, share work in progress and then publish their completed tracks for all the world to hear.

State of the Crypto by Top Tier Exchange Volume

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