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EOS (EOS) soared on Friday, May 16, as the President Trump-backed World Liberty Financial invested approximately $3 million in the cryptocurrency token. The digital asset’s May 15 value and press time price indicate that the acquisition may have strongly impacted EOS. On Thursday morning, the token was changing hands at $0.77, rose to $0.79 by midnight, and rallied to a Friday morning high of $0.86. In the night between Thursday and Friday, WLFI spent 2.996 million USDT to buy 3.636 million EOS. On-chain data reveals that the average purchase price was $0.824. WLFI’s EOS investment. Source: BscScan By press time on May 16, EOS had slightly corrected and was trading at $0.85 after a total 24-hour rally of 9.39%. EOS one-day price chart. Source: Finbold The investment in EOS enabled the token to enjoy a breakout when the whole cryptocurrency market was consolidating toward $3.27 trillion following a shallow correction it entered after hitting a total val...

The co-founder of decentralized finance (DeFi) platform Maker (MKR) says that the rebrand of its stablecoin will have a freeze function but that DAI will continue to operate normally. In a new thread on the social media platform X, MakerDAO creator Rune Christensen says that DAI itself will not feature a freeze function – or a mechanism that stops the movement of tokens – after rumors swirled that it would. According to Christensen, the addition of a freeze function to the rebranded stablecoin will not be immediate and will have to be something hashed out and approved by the protocol’s DAO (decentralized autonomous organization). “There will be no freeze function at launch, there will just be an upgradeability. So later governance can decide how to implement something like a freeze function based on considering all data and find something that protects against as many risk factors as possible.” Christensen goes on to note that upgrading from DA...

UNKJD Studios, the Solana-based gaming studio formerly known as Uncaged Studio, will rebrand its main Web3 mobile game – MonkeyLeague – to UNKJD Soccer, per the latest information shared with Finbold. The change comes as the company hopes to expand beyond the mobile soccer game by making extensive collaborations with fashion, entertainment, and sports brands while maintaining its three-pillar foundation of IP, game, and Web3. UNKJD Studios also announced its intent to expand its IP rapidly and offer steady releases of new sports games every 6 to 8 months. Maxim Bashkaev Vaysbord, a former Azuki executive and the new Brand Director for UNKJD expressed his faith in the future of Web3 gaming, stating: Cryptocurrency Polkadot sets new NFT mint speed record Cryptocurrency 3 cryptocurrencies to turn $10 into $100 Cryptocurrency Is Jerome Powell advising investors to buy Bitcoin? Cryptocurrency Machin...