Web3 🌑 Friday News Roundup: Uniswap, Coinbase, Bitcoin, Ethereum, and Trezor
1/ 📱 Uniswap launches mobile crypto wallet for Android.
2/ 🏛️Coinbase urges to pass 'Sensible' crypto legislation.
3/ 📈 Bitcoin poised for another surge.
4/ 💸Ethereum gas fees drop to new lows.
5/ 💰Trezor unveils new hardware wallets.
For further details, let's keep reading! 👇
Welcome to today's Web3 News!
The cryptocurrency industry is constantly evolving, with new developments and innovations emerging all the time. In today's news, let's explore a number of significant developments. Uniswap launched its mobile crypto wallet for Android, Coinbase urged the U.S. Congress to pass sensible crypto legislation, Bitcoin was poised for another surge, Ethereum gas fees dropped to new lows, and Trezor unveiled new hardware wallets.
Stay tuned for more updates on the developments in the rapidly evolving world of crypto!
1/ Uniswap launches mobile crypto wallet for Android. 📱
Uniswap, the leading decentralized exchange, has launched a mobile crypto wallet for Android, months after doing the same on Apple's iOS platform. The app is currently in beta, and Uniswap is inviting members of the DeFi community to help test it before it's released more widely to users.
The Android wallet comes with a set of features that Uniswap believes make a great swap, including split-second swaps, easy discovery of new tokens, transparent pricing, and automatic switching between blockchain mainnets and layer-2 scaling networks.
To defend users against common DeFi exploits such as sandwich and frontrunning attacks, Uniswap has added "swap protection" to the Android wallet. This means that swaps will now default to a private transaction pool, protecting users from such MEV attacks.
The launch of the Android wallet is a significant step for Uniswap, as it makes it easier for users to access and use the platform on the go. It also comes at a time when Uniswap is facing increasing regulatory scrutiny. However, the company is confident that the Android wallet will help it to continue to grow and expand its user base.
Pedro Solimano
2/ Coinbase urges to pass 'Sensible' crypto legislation. 🏛️
Coinbase's chief legal officer, Paul Grewal, has urged the U.S. Congress to swiftly pass sensible crypto legislation as the conflict in the Middle East escalates. He believes that this is necessary to prevent terrorist organizations such as Hamas from using cryptocurrency to finance their activities.
Grewal's statement follows reports that Hamas, a militant organization, has received approximately $41 million in cryptocurrency over a two-year period. He emphasized that Coinbase is laser-focused on rooting out bad actors seeking to use crypto for illicit purposes. He added that the exchange does everything it can to prevent this from happening on its platform, including KYC checks, sanctions screening, SAR reporting, and strong law enforcement partnerships.
Grewal's call for sensible crypto legislation is echoed by many in the industry. They believe that clear and concise regulations are necessary to protect investors and consumers, while also allowing the industry to grow and innovate.
Kevin Helms
3/ Bitcoin poised for another surge. 📈
Recent dovish comments by the U.S. Federal Reserve (Fed) have stirred memories of early 2019, when Bitcoin experienced a significant surge. Bitcoin’s current value is $26,800, marking a 62% gain year-to-date. Bitcoin enthusiasts are speculating on another potential surge, given the similar economic landscape.
In early 2019, the Fed paused interest rate hikes after a period of tightening. During this pause, Bitcoin rallied from its December 2018 low to a staggering $13,880 by June 2019.
Some analysts believe that the current pause in the Fed's tightening cycle could lead to another bullish run for Bitcoin, especially given the anticipated mining reward halving in 2024.
However, it is important to note that a sudden pivot by the Fed towards rate cuts could introduce volatility. Traders are advised to understand the rationale behind such rate cuts before making any investment decisions.
Overall, the recent dovish comments by the Fed and the similar economic landscape to early 2019 suggest that Bitcoin could be poised for another surge. However, it is important to trade cautiously and manage risk carefully.
David
4/ Ethereum gas fees drop to new lows. 💸
Ethereum gas fees have dropped to new lows, reaching levels not seen since October 2022. This is likely due to a decrease in user activity on DeFi applications, NFTs, layer-2 networks, and Telegram bots.
Some analysts believe that this drop in gas fees is a positive development, as it makes the Ethereum network more accessible and affordable for users. Others are concerned that this could lead to an increase in the supply of Ethereum, which could have a negative impact on the price of the cryptocurrency.
Overall, the impact of this drop in gas fees on the Ethereum network is still unclear. However, it is an important development to watch, as it could have significant implications for the future of the network and its users.
Owotunse Adebayo
5/ Trezor unveils new hardware wallets. 💰
Trezor, a leading hardware crypto wallet company, has unveiled three new products: the Safe 3 wallet, the Keep Metal recovery-seed phrase backup device, and a Bitcoin-only version of the Safe 3 wallet.
The Safe 3 is a stripped-back wallet designed to be accessible to less experienced crypto users. It features a tamper-resistant hardware component and support for over 7,000 cryptocurrencies.
The Keep Metal is a corrosion-resistant stainless steel device used for backing up recovery seed phrases. It is designed to be durable and secure, and can be used to store both 12-word and 24-word standard backups.
The Bitcoin-only Safe 3 wallet is designed to appeal to users who want to store their bitcoin in a secure and dedicated hardware wallet.
Trezor is committed to self-custody, and the new products reflect this commitment. Self-custody means that users are responsible for their own digital assets, and do not rely on a third party to hold them. This can be more secure, but it also means that users are responsible for their own mistakes.
Trezor's new products are a significant development in the cryptocurrency security industry, offering users secure and accessible ways to store their digital assets.
Jamie Crawley
Conclusion:
These developments all have the potential to impact the cryptocurrency market in different ways. Uniswap's launch of a mobile wallet for Android is a significant development for the DeFi community, and Coinbase's call for sensible crypto legislation is a reminder of the importance of regulation in the industry. Bitcoin's potential for another surge is exciting for enthusiasts, but it is important to trade cautiously and manage risk carefully. Ethereum's gas fee drop could be a positive development for users, but it is important to monitor the impact on the network. Trezor's new hardware wallets offer users secure and accessible ways to store their digital assets.
Disclaimer: The information provided in this blog post is based on external sources. Please do your own research and due diligence before making any investment or financial decisions based on the content shared here.
