Parallel Finance Wins Polkadot’s Fourth Parachain Auction

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Today’s Cryptocurrency Headline

Parallel Finance successfully won the fourth parachain slot in Polkadot. More than 30,000 contributors have staked a total of 10.75 million DOT tokens during the fourth round of the auction. It is expected to go live on mainnet on December 17, 2021. Parallel Finance is a decentralised money market protocol that offers lending, staking and borrowing in the Polkadot ecosystem.

BingX’s Bitcoin Chart

Source: TradingView& BingX
Source: TradingView& BingX

The US Bureau of Labor Statistics reported that the Consumer Price Index (CPI) rose to 6.8% in November from 6.2% in October, which is the highest level since 1982. The CPI (YoY) increase was in line with the economist forecast. BTC price went up by $1,200 after the announcement, but fell to around $48,000 within a few hours as more traders started to worry that the Federal Reserve will raise the interest rate.

 

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