Michael Sonnenshein, CEO of Grayscale, has decided to resign from his role, raising several questions about the reasons behind this decision. According to the company, Sonnenshein is leaving his position to “pursue other interests”. This move has sparked a series of speculations and discussions within the investment and cryptocurrency industry.

Sonnenshein has been a key figure in the growth and development of Grayscale, one of the largest digital asset managers in the world. During his tenure, the company has seen significant expansion, especially with the Grayscale Bitcoin Trust (GBTC), one of Grayscale’s most popular products. However, despite the success of GBTC, the fund has recently faced some challenges.

One of the main issues concerns the spot bitcoin ETF GBTC, which has seen the exit of numerous investors despite an increase in overall inflows. This phenomenon could be attributed to several factors, including the volatility of the cryptocurrency market and concerns regarding regulation. Although Grayscale has sought approval from the Securities and Exchange Commission (SEC) of the United States to convert the GBTC into an ETF, this goal has not yet been achieved, adding further uncertainty for investors.

The departure of Sonnenshein comes at a crucial time for Grayscale, which is trying to navigate through these challenges and consolidate its position in the digital asset market. His exit could be seen as a signal of strategic change within the company. However, the exact reasons behind Sonnenshein’s decision remain unclear. Some analysts suggest that increasing pressure and high expectations may have played a role in his decision to resign.

The new CEO of Grayscale

To take on the role of CEO will be Peter Mintzberg, a former executive of Goldman Sachs. Mintzberg will join the team of Grayscale on August 15, 2024. His appointment has been met with interest and curiosity, given his extensive experience in the traditional financial sector. During his time at Goldman Sachs, Mintzberg held various leadership roles, accumulating a deep knowledge of financial markets and investment dynamics.

The arrival of Mintzberg could represent a new era for Grayscale, bringing with him a fresh perspective and innovative strategies. His experience could prove valuable in addressing current and future challenges, especially in a market environment that is constantly evolving like that of cryptocurrencies. Furthermore, his appointment could strengthen investor confidence, reassuring them about Grayscale’s ability to navigate through market turbulence.

Mintzberg will have the task of leading Grayscale through a period of transition, trying to balance the needs of investors with market dynamics. His leadership will be crucial for the company, which will have to face significant regulatory and competitive challenges. In addition, he will have to work to obtain SEC approval for the long-awaited ETF on bitcoin, a step that could radically transform Grayscale’s position in the cryptocurrency investment sector.

Conclusions

In conclusion, Michael Sonnenshein’s resignation as CEO of Grayscale marks the end of an era and the beginning of a new chapter for the company. Peter Mintzberg’s entry brings new opportunities and challenges. Mintzberg’s ability to quickly adapt and implement effective strategies will be crucial for the future of Grayscale. Investors and the cryptocurrency market will closely watch the upcoming developments, trying to understand how the company will face the challenges and capitalize on the opportunities under the new leadership.

A recent news has caught the attention of many in the industry: Justin Drake, a prominent researcher at the Ethereum Foundation, has revealed that he has taken on the role of consultant at the Eigen Foundation. This news emerged following a discussion between Ethereum co-founder Vitalik Buterin and cryptocurrency trader Jordan Fish, known as Cobie, regarding transparency in the sector.

Who is Ethereum researcher Justin Drake?

Justin Drake is a prominent figure in the cryptocurrency community, known for his work at the Ethereum Foundation. His experience and contribution to the development of Ethereum, one of the most widely used blockchains in the world, have earned him widespread respect and recognition. Drake has been involved in various aspects of Ethereum research and development, helping to improve the security, efficiency, and innovation of the network.

Recently, Justin Drake revealed that he has become a consultant for the Eigen Foundation. This foundation is known for its innovative work in the field of blockchain and cryptocurrencies. Drake’s revelation was accompanied by the news that he received a significant incentive in Eigen tokens as part of his new consulting role.

Drake’s revelation comes in the context of a growing discussion about transparency in the cryptocurrency sector. Vitalik Buterin and Jordan Fish have recently publicly discussed the importance of transparency, particularly regarding the financial interests and advisory roles of prominent figures in the industry. This discussion has highlighted the need for greater clarity and openness about relationships and financial incentives in the world of cryptocurrencies.

Transparency is fundamental in any sector, but it takes on particular importance in the world of cryptocurrencies, where user trust is crucial. Revelations like Drake’s contribute to building a more transparent environment, where users can have a clear understanding of the relationships and incentives that drive the decisions and actions of prominent figures in the industry.

The Role of the Eigen Foundation

The Eigen Foundation is an organization dedicated to research and development of innovative technologies in the field of blockchain and cryptocurrencies. The foundation stands out for its pioneering approach and its commitment to improving decentralized infrastructures.

Through its work, the Eigen Foundation aims to solve some of the most pressing challenges in the blockchain sector, such as scalability, security, and efficiency of distributed networks.

With the entry of Justin Drake as a consultant, the foundation not only enriches its team with one of the brightest minds in the field of cryptocurrencies, but also acquires an invaluable source of knowledge and expertise.

Drake, with his extensive experience gained at the Ethereum Foundation, brings with him a deep understanding of blockchain dynamics and related technologies. His involvement could accelerate the progress of Eigen Foundation’s projects, leading to significant developments and innovations that could have a lasting and transformative impact on the industry.

In particular, Drake’s presence could positively influence research on new protocols and solutions to improve the decentralization and security of blockchain networks. Furthermore, his contribution could facilitate the creation of new decentralized applications (dApps) that could expand the possibilities of using blockchain in various sectors, from the economy to data management, to public services.

The combination of Eigen Foundation’s resources and expertise with Drake’s experience promises to generate technological advancements that could redefine the cryptocurrency landscape in the coming years.

Conclusions

Justin Drake’s revelation of his new role as a consultant at the Eigen Foundation and the subsequent incentive in Eigen tokens is an example of how transparency is becoming increasingly central in the world of cryptocurrencies. The discussion between Vitalik Buterin and Jordan Fish has highlighted the importance of maintaining an open and transparent environment, where relationships and financial incentives are clearly communicated. With prominent figures like Drake embracing transparency, the cryptocurrency sector can continue to evolve in a way that promotes trust and innovation.

The issue related to the failure of Genesis and the closure of the Earn program on the Gemini crypto exchange is coming to an end.

Indeed, Judge Lane approved the bankruptcy plan, thus giving the green light for the repayment of credits.

Genesis and Gemini’s Earn service on the crypto exchange

Genesis Global Capital went bankrupt in 2022, following the bankruptcy of FTX, and among its creditors was also the crypto exchange Gemini.

As a consequence of Genesis’ failure, Gemini had to shut down its Earn program, leaving its clients without access to their funds anymore. 

Yesterday’s ruling finally paves the way for solving the problem, especially regarding Gemini’s creditors. 

Following the publication of the judgment, Gemini released a statement in which they effectively thank the judge and highlight how this judgment has no impact on the overall agreement between Gemini, Genesis, and other creditors.

The return of credits

Judge Sean Lane ignored both the objections of Genesis’ parent company, DCG, and those of the Genesis Crypto Creditors Ad Hoc Group and the Office of the United States Trustee, and ruled in favor of the plan that provides for the repayment of approximately 3 billion dollars to creditors. 

The approved plan, however, does not provide for the bulk return of all credits, but a multi-phase process that will allocate resources to creditors based on the denomination of the credits, with dollar credits being returned before crypto credits.

Furthermore, the judge has decided that dollar creditors will be refunded 100% of the value of their credits, thanks to this precedence, while crypto creditors will only receive the remaining amount. 

Genesis: the crypto exchange returns funds to Gemini Earn creditors

Regarding the return of credits to Gemini Earn creditors, they will start receiving refunds as early as May, but they will only receive about 97% of the funds owed, at least initially. 

However, it should be noted that refunds will be in cryptocurrencies, so in fact they could also receive funds with a higher value than they had at the time they were blocked. In other words, they will receive less funds, but probably of higher value than the value of the credit at the time of the bankruptcy.

Crypto Failures

This methodology is common to many crypto failures. 

When a user who owns cryptocurrencies held in custody at an exchange, or any centralized platform, is prevented from withdrawing their funds due to insufficient funds to meet all withdrawal requests, the platform is effectively going bankrupt. 

In other words, since withdrawals are requests for debt repayment, blocking withdrawals corresponds to unpaid debt, and this triggers insolvency. 

However, bankruptcy regulations provide that the calculation of debts, or credits of users, be made in fiat currency. 

Almost always from the moment of failure to the moment of refund several months, or even many years, pass, and in the meantime the market value of cryptocurrencies varies. 

If it varies as it goes up, the overall value of the cryptocurrencies still held by the failed platform can even exceed the overall value of the debt at the time of the bankruptcy as it happened in the famous case of the failed Mt.Gox exchange 10 years ago.

Returns in fiat or crypto

For example, regarding the bankruptcy of FTX, the bankruptcy trustee has opted for a refund of all funds in fiat currency. 

However, in that case there was no choice, since the assets owned by the bankrupt company were mostly cryptocurrencies, while in large part they were other types of assets that were sold by the bankruptcy trustee in order to cash in fiat currency. 

In this way, the failed exchange only had more dollars to return, but with the possibility of returning to creditors 100% of the value they had in custody on the exchange at the time of the failure, in November 2022. 

Instead in other cases, like Mt.Gox or Genesis, a portion of the credits is returned in fiat currency, but another portion in cryptocurrency. 

Usually in these cases, creditors in fiat currency receive 100% of the amount of their credit, calculated at the time of the bankruptcy, while others receive a smaller amount of cryptocurrencies than they had in custody at the time of the platform’s closure. 

However, since many cryptocurrencies are increasing their market value over the long term, even if they receive fewer cryptocurrencies than they are due, the ones they receive may have meanwhile increased their market value measured in fiat currency compared to what they had at the time of the failure. 

In some cases, such as Mt.Gox, the increase in value over time is such that the crypto assets that creditors will receive will have a higher value than all the assets they had on the platform at the time of closure, even if they will receive a much smaller quantity.

In the case of Gemini Earn, they will receive back 97% of the assets, but with a significantly higher market value. 

The crypto Dogecoin (DOGE) has recently dropped to $0.15, what are the future price predictions? The cryptocurrency is currently trading at $0.1522, marking a decrease of 1.77% in the last 24 hours. 

Let’s see below all the details. 

What factors could influence the price of the crypto Dogecoin (DOGE)?

As anticipated, currently Dogecoin (DOGE) is trading at 0.1522 dollars, registering a decrease of 1.77% in the last 24 hours, with a trading volume of 819 million dollars in the same period. 

Ranked 9th on CoinMarketCap, Dogecoin has a market capitalization of 22 billion dollars and a circulating supply of 144 billion DOGE coins.

But what are now the next potential targets for DOGE as it hovers around the $0.15 level? In the four-hour chart, DOGE has a pivot point at $0.15100, indicating a possible bullish forecast for the price of Dogecoin.

Immediate resistance is located at $0.15950, followed by $0.16980 and $0.18440. On the contrary, immediate support is at $0.14270, with further support levels at $0.13240 and $0.12030. 

The relative strength index (RSI) is currently at 53, indicating neutral conditions. The 50-day exponential moving average (EMA) is positioned at $0.15130, suggesting that the market maintains a bullish trend above that level.

Dogecoin has developed a symmetrical triangle pattern, with significant resistance around $0.1545. At the same time, support persists around $0.1513, reinforced by the 50-day EMA.

Analysis of current trend and possible developments

The current market price above the 50 EMA indicates a bullish trend, but Dogecoin must surpass the resistance at $0.1595 to confirm further gains. The RSI, above 50, suggests a buying trend, supporting this outlook.

If Dogecoin maintains its position above the pivot point at $0.15100, it could push prices higher towards the resistances at $0.15950, $0.16980, and $0.18440. 

However, a break below that level could cause a bearish trend, bringing the price to supports at $0.14270, $0.13240 and $0.12030. The market’s reaction at these levels will be crucial for the future direction of Dogecoin.

In conclusion, the technical outlook for Dogecoin remains bullish above the pivot point at $0.15100. The immediate resistance at $0.15950 will be the first hurdle to overcome, followed by $0.16980 and $0.18440. 

However, caution is needed if the price were to drop below the pivot point. The 50-day EMA at $0.15130 provides a solid foundation for the upward trend currently in place.

Billy Markus of Dogecoin speaks out on X in defense of Elon Musk

The founder of Dogecoin, Billy Markus, recently shared a post on X in which he defended Elon Musk regarding the discrepancies discovered by users in the “freedom of speech” social media app.

According to Markus, the boosting and depowering of accounts are becoming a trend on X. However, he does not attribute these actions to Musk, but rather to the fluctuations of the algorithm.

Markus emphasized that if smaller accounts are empowered, this means that larger accounts are disempowered, a basic mathematical concept. 

He also denied that the algorithm depowers people for specific political opinions or conspiracy theories. Musk’s acquisition of X has brought several challenges for users, including issues related to bots and cryptographic scams.

In response, Musk announced a total purge of the system and the introduction of a small fee for new users to combat bot attacks.

Musk criticized traditional bot detection tools, such as CAPTCHA, calling them obsolete, and suggested that he could make changes to the bot algorithm to improve user visibility on X.

Today the price of Bitcoin has returned above $67,000, opening the doors to a possible continuation of the upward trend, driven by a series of factors that have influenced the crypto asset.

Geopolitical tensions in the Middle East, inflow of Bitcoin spot ETFs and macro data in the USA have driven this week’s rally in the crypto market.

Let’s see below what all this entails and what we can expect for the future regarding the evolution of the price of digital gold.

Bitcoin price returns to 67,000 dollars today as geopolitical tensions rise

Today the price of Bitcoin seems to want to continue the bullish rally of last week with the crypto recovering to $67,000 triggering potential explosive scenarios in the short term.

The crypto has strengthened its position as a ” store of value ” with the intensification of geopolitical tensions in the Middle East, particularly the Israeli-Palestinian conflict.

Usually, in fact, Bitcoin, similarly to physical gold, serves well as a spendable P2P reserve in contexts where war jeopardizes the primary function of a State currency.

It is worth noting in this regard how the increase in economic uncertainties and the advancement of social turmoil in Iran after the tragic incident involving Iranian President Ebrahim Raisi and Foreign Minister Hossein Amirabdollah, both of whom died yesterday in a helicopter crash in the province of East Azerbaijan, may have positively contributed to the positive price action of Bitcoin today.

The perception of Bitcoin as a safe haven asset can lead to an increase in demand and a higher BTC price amidst such crises.

President of Iran Ebrahim Raisi died during a helicopter accident on the border with Azerbaijan – Mehr.

All other members of the Iranian delegation were also killed. Due to difficult weather conditions and poor visibility, the helicopter crashed into a mountain. pic.twitter.com/Cbwtz13imo

— Ukrainian Front (@front_ukrainian) May 20, 2024

In a context like this, Bitcoin could soon update its historical highs if it manages to break through a significant resistance at $67,500, as noted by Markus Thielen, head of research at 10x Research.

“A breakthrough above $67,500 could potentially lead to new all-time highs.”

Last week the cryptocurrency recorded a price increase of 7.3% and today it could continue with the same spirit, getting closer and closer to its historical record set at $73,700.

Eyes are also on the psychological threshold of $70,000 which could repel the bulls’ assault if not attacked with sufficient bullish momentum.

ETF inflows: a week marked by purchases for US funds

The positive price action of Bitcoin today is also and above all helped by the excellent data of the spot ETFs emerged last week, where we observed a prevalence of inflows over outflows.

After the months of March and April marked strong outflows for funds investing in this type of investment products, with the peak of outflows on May 1st which saw losses of 570 million dollars, now the situation seems to have calmed down.

From May 3 onwards, Bitcoin ETFs have indeed resumed accumulating BTC, causing the cryptocurrency to bounce back from its local low around $56,500.

In just 2 weeks, about $1.5 billion in investments have been added, pushing Bitcoin’s price action up to the current $67,000.

The funds IBIT, FBTC, and ARKB, respectively managed by BlackRock, Fidelity, and Ark Invest, lead the accumulation of cryptocurrencies while GBTC by Grayscale seems to have finished the liquidation phase, also starting to generate positive inflows.

In particular, the last trading day of spot ETFs saw inflows of $220 million, almost all of which was generated by the providers just mentioned.

With these numbers, the demand for ETF appears so strong that it removes more BTC from the market than are extracted by miners every day.

As Thomas Fahrer, CEO of the cryptographic review portal Apollo, observes:

“This is 3 times the supply of new bitcoins from miners. ”

Currently, US spot ETFs alone hold about 2.8% of the total BTC supply. 

This trajectory could see an acceleration in the coming months, also considering the fact that the recent halving of the protocol has halved the rewards for miners from 6.25 to 3.125 BTC per block.

Macro Data: the relationship between US inflation and the price of Bitcoin

The last factor that may have influenced the evolution of the price of Bitcoin today and in the past week, concerns the macro data of the USA where a veiled optimism is looming on the horizon.

Although until recently inflation in the United States seemed out of control, the latest CPI data confirm investors’ expectations and increase the likelihood of a cut in interest rates on government bonds and a reversal of the monetary policy of the FED as early as September 2024.

According to the CME FedWatch Tool, markets have indeed assessed a 10% probability of a rate cut in June and almost 80% in September.

However, this perspective, while slightly benefiting risk-on assets, suggests that uncertainty is still high and that turbulence may not be over.

Anyway, in such complex and uncertain situations investors tend to seek refuge in Bitcoin as a hedge against inflation and economic instability, positively contributing to its price increase.

On this point, as noted on X by financial commentator Tedtalksmacro, the expansion of the US M2 money supply is the lowest since the 1990s and shows that there is ample room for liquidity conditions to be eased.

While unemployment benefit claims in the United States could provide another bout of volatility for risk assets, investors’ focus is increasingly on favorable liquidity conditions both in the United States and beyond.

These are his words:

“While liquidity has definitely returned to crypto (BTC ETF), the speed of inflow has not yet seen a maniacal phase consistent with cycle peaks”.

The coming months could be explosively favorable for Bitcoin if US macro data supports financial markets with the injection of new liquidity.

Everything will depend on the trend of inflation of the US dollar and the labor market.

This article was paid for*

The crypto industry is filled with coins and tokens considered worthy investments, especially for those seeking to invest in the long term. However, many investors believe the best time to buy is during the presale phase, particularly for high short term gains.

To them, missing a presale or ICO means that it is already too late and that any profits made from later purchases are bound to be smaller than what an investor could make if they bought a cryptocurrency when it first launched.

Whether this is correct or not is something that everyone has their own opinion on. However, if you are among those seeking new and early opportunities in presales, we have listed some of the best crypto presales to buy into early as of mid 2024:

Top Crypto Presales of 2024 – Quick List

Here is a list of some of the top crypto presales in the market:

Dogeverse (DOGEVERSE) – Best presale crypto with a multichain concept

Sealana (SEAL) – New Solana meme coin with a comedic novelty

WienerAI (WAI) – Top AI-powered meme coin with a real-world utility

Mega Dice (DICE) – Native token of the fastest-growing crypto casino

99Bitcoins (99BTC) – Utility token of a Learn-to-Earn platform

eTukTuk (TUK) – A green project that merges the powers of AI and blockchain to redefine sustainable transportation

5th Scape – World’s first AR and VR crypto project

Best Crypto Presales in May 2024 — Full Review

In this segment, we fully examine the promising features of all the new cryptos that have made our list of the best 2024 crypto presales:

Dogeverse (DOGEVERSE) – Best Crypto Presale with a Multichain Concept

Dogeverse stands out as a revolutionary meme coin based on Doge, just like Dogecoin, the original meme coin. However, the project brought its technological spin to the concept of a dog-based meme coin by becoming the world’s first chain-traveling Doge.

Dogeverse is a multichain cryptocurrency that has been designed to run on six different blockchains. These are not just old chains but the six largest and busiest blockchains with highly developed communities and DeFi and meme coin sectors.

They include BNB Chain, Solana, Polygon, Avalanche, Base, and Ethereum. By launching on all of them, Dogeverse opens its doors to a diverse range of investors across different chains.

Beyond its multichain posture, Dogeverse also enhances its appeal with its standard staking model. Participants in its ongoing presale can leverage its lucrative APY offering to compound their gains. 

With its awesome lore, staking mechanism, and intriguing use case of token transfer across six chains, Dogeverse has established itself as a fascinating investment opportunity, drawing scores of degen investors to its presale. 

Despite launching barely a month ago, Dogeverse has quickly reached its presale target of $15 million and the momentum around the token is still not slowing down yet. Renowned crypto analysts like Jacob Bury believe the token’s multichain appeal gives it both short and long-term potential. 

That said, those interested in Dogeverse still have one final chance to gain early exposure to it before it lands on exchanges. 

Buy Dogeverse Sealana (SEAL) – New Solana Meme Coin with a Comedic Novelty

Sealana has distinguished itself among other presale cryptos in the market, thanks to its embracement of a unique token distribution model. Bypassing the complexities that come with traditional presales, Sealana has adopted a fairly simple approach that allows investors to buy SEAL either by connecting to its dedicated widget or sending SOL to its designated wallet.

Furthering its appeal is its captivating mascot narrative which depicts the tale of an obese American redneck seal who is relentless in finding the next big Solana meme coin. While Sealana has no defined utility, the humorous nature of its mascot has attracted many to its ongoing presale. 

Although it arrived on presale a few weeks ago, Sealana has raised close to $2 million, thereby capturing the attention of top publications like Bitcoinist, Cointelegraph, Techopedia, and Cryptonews.

Sealana has also emerged as one of the most-discussed presale cryptos among crypto communities on social media platforms, especially YouTube. The project has appeared on the YouTube channel of popular crypto analysts like TodayTrader. 

Above all, Sealana stands out as one of the hottest presale cryptos available to investors right now. Apart from SOL, those willing to buy SEAL can also use ETH, USDT, USDC, and bank cards. 

Buy Sealana WienerAI (WAI) – Top AI-powered Meme Coin with a Real-world Utility

WienerAI is a meme coin that combines dogs, the favorites of the meme coin sector, with sausages and artificial intelligence. 

While this may not be the most obvious combination that most people would come up with, it ended up working incredibly well for the project, which has since become one of the meme coin sector’s favorites.

Apart from being funny and interesting, this project is actually also expanding the boundaries of meme coins and their capabilities. 

First, it introduced a unique new design that makes it incredibly easy to upgrade and add new features at a later date, as trends in the market change and evolve.

Apart from that, WienerAI also introduced predictive technology that allows it to help traders by making AI-powered predictions and making their investments that much better and smarter. 

While the bot will be offered for free, those who participate in its ongoing presale will enjoy early access to its groundbreaking features. 

At press time, WienerAI has amassed close to $2.3 million in early investments. Renowned crypto analysts like ClayBro feel the project’s upcoming trading bot utility will impact its performance when it lands on IEO.

As such, its ongoing presale might be the best opportunity to gain early exposure to a project tipped for long-term market success.

Buy WienerAI Mega Dice (DICE) – Native Token of the fastest-growing Online Casino

Mega Dice is one of the larger brands in the crypto casino space, featuring over 4,000 games from top providers and over 50 sports and eSports for its users to bet on. The platform also claims to have over 10,000 active monthly users and over 50,000 registered ones.

Recently, it launched a native cryptocurrency known as DICE, which is currently in presale, selling for $0.075 and available in exchange for ETH, BNB, and SOL. 

Considering its potential multiple upsides, DICE, according to a leading YouTube channel 99Bitcoins, has what it takes to become the OG of GambleFi tokens on Solana. 

Mega Dice intends to become the best GameFi solution in Solana’s ecosystem, and it has the experience and user base to achieve it.

However, it is also more than prepared to provide exclusive benefits for the presale participants to ensure future growth. One example is its daily rewards for future DICE holders, which will be based on the casino’s own performance. 

Other than that, select DICE holders and Mega Dice players will receive limited edition NFTs, and early presale participants will receive bonus DICE tokens, increasing their initial investment value.

Buy Mega Dice 99Bitcoins (99BTC) – Utility Token of a Learn-to-Earn Platform

99Bitcoins stands out as one of the biggest presale sensations in the market. Launched on April 10, 99Bitcoins (99BTC) is a presale started by a platform of the same name, which has been educating crypto users about various crypto-related concepts for years.

Now, it has decided to launch its token and with it, to introduce a brand new rewards concept called Learn-to-Earn. Like P2E and M2E, the new L2E will reward users for learning about cryptocurrencies through 99Bitcoins’ platform.

Also, it is worth noting that 99BTC is a BRC-20 token, meaning that it is launched in Bitcoin’s ecosystem, making it stand out from most of the crypto industry.

It is also possible to stake your 99BTC tokens to earn more rewards while also benefiting from its potential market gains. Famous YouTuber, Crypto Gains says all these attributes make the token an exciting investment opportunity this year.

Since the presale started so recently, there is still plenty of time to join. However, be warned that the presale does consist of multiple phases and that the token’s price will go higher and higher with each new phase. 

At press time, 99Bitcoins is available for a discounted rate of $0.00105. Anyone who misses out on this round will have to pay more to purchase the token.

Buy 99Bitcoins eTukTuk (TUK) – A Green Project that Merges the Powers of AI and Blockchain for Sustainable Transportation

eTukTuk is a project that seeks to combine several technologies into something new, different, and extremely useful. The project aims to start a green AI revolution by making eTukTuk — a small electric vehicle powered by AI technology and supported by the crypto and blockchain industry.

eTukTuk represents a sustainable transportation evolution that intends to bring affordable, eco-friendly transportation to developing nations first and, eventually, worldwide. However, it all starts with the project’s green token, TUK, which is currently in presale. 

TUK token will not only allow for the development and distribution of eTukTuks, but it also allows users to engage in staking.

Even that is not all, as the project also has its own Play-to-Earn (P2E) game, which lets you drive an eTukTuk in the streets of a virtual Sri Lanka and give rides to people who are in a hurry to get to specific locations.

Described as the next 10x crypto by well-known YouTube channel, Cryptonews, eTukTuk has been attracting investors to its presale through its combination of blockchain and AI fundamentals. 

Above all, eTukTuk is a great example of a project that uses the available emerging technologies to impact and improve the physical world and change people’s lives in a very direct and noticeable way.

Buy eTukTuk 5th Scape (5SCAPE) – World First AR & VR Crypto Project 

5th Scape is another revolutionary project that seeks to use Augmented Reality (AR) and Virtual Reality (VR) to act as a gateway to the next big thing of the decade. The virtual space is infinite, allowing users to push any boundaries indefinitely. 

This also means it has limitless potential to provide immersive experiences that redefine things like education, entertainment, and more.

The project already offers an immersive, hyper-realistic experience in the gaming world, where users can engage in adrenaline-pumping battles, high-speed racing, precision archery, immersive sports, and more.

Meanwhile, the project is still in presale, so there is still time to buy its token, 5SCAPE before it goes live and sees a price increase. 

Popular YouTuber Michael Wrubel is bullish on 5th Scape and believes the project will make an impact in the crypto landscape. 

With VR, AI, and similar technologies becoming more advanced by the day, it is strongly implied that this is the future technology and that crypto projects involved with it have a good chance of performing well moving forward.

Buy 5th Scape Conclusion

With that, we conclude the list of the best crypto presales to join this May. As you can see, there are plenty of options, and while most current presales are meme coin-related, there are also many to choose from that have real utilities. 

In the end, it depends on each investor and their goals. Some of these tokens seem like they could do well in years to come, especially those that focus on advanced new technologies. 

Meanwhile, others could also perform excellently due to their popularity and clever use of trends. In other words, each of these is worthy of consideration, but not all of them are a good fit for everyone, so you must decide on your own which one, if any, to pursue.

Keep in mind that each still comes with a certain amount of risk, as does any cryptocurrency. None of them are guaranteed to succeed, but at the same time, any of them — or even all of them — might go big. With that said, you should do your own research before making a move, and decide what to do based on your own opinion.

*Cryptonomist did not write the article or test the platform.

In the last two weeks, ETFs on Bitcoin spot have started buying BTC again. 

Between Monday, May 6 and Friday, May 18, there were capital inflows of approximately 1.3 billion dollars. 

The bitcoin ETFs have put together a solid two weeks with $1.3b in inflows, which offsets the entirety of the negative flows in April- putting them back around high water mark of +$12.3b net since launch. This key number IMO bc it nets out inflows and outflows (which are normal) pic.twitter.com/tdnZOKEocM

— Eric Balchunas (@EricBalchunas) May 17, 2024

Bitcoin spot ETF: BTC purchases

Taking into consideration all the existing Bitcoin ETFs in the world, by the end of April they collectively held about 991,000 BTC.

In the first days of May this figure decreased by 10,000 units, but it started to rise again two weeks ago. 

Specifically, on May 14th it had returned to 991,000, and between Wednesday, May 15th and today it has increased by 8,000 units, reaching almost a million BTC held. 

Thanks to these purchases, the ETF on Bitcoin spot by BlackRock, IBIT, now holds more than 276,000 BTC, not far from the almost 289,000 held by Grayscale’s (GBTC) ETF.

Since the end of March, GBTC has liquidated more than 7,000 BTC, while IBIT has purchased 2,000. At this rate, the overtaking could occur by the end of May. 

The trend

Limiting themselves to inflows or outflows of capital in dollars, around mid-March outflows had started to prevail. 

After all, the price of Bitcoin was at all-time highs, so many decided to sell to cash in on the gains.

This negative trend for spot Bitcoin ETFs seemed to have stopped at the end of March, but it resumed just before mid-April, when markets began to price in the possible “sell the news” following the April 20 halving.

Although this negative trend has not been without interruptions, it lasted until the stock market session on Friday, May 3rd. 

On the following Monday, however, the situation reversed, with a prevalence of capital inflows returning.

Actually, the 1.3 billion dollars of net inflows in the last two weeks are not even remotely comparable to the inflows in February. Just to say that in just one day, at the beginning of March, over a billion dollars of inflows were exceeded, a few days before the price of BTC reached its peak. 

The various ETFs on Bitcoin spot

Examining the performance of individual ETFs on Bitcoin spot on US stock exchanges, it is discovered that starting from Monday, May 6th, GBTC has practically stopped losing capital.

Since the first day of trading, on January 11th, the Grayscale ETF had started a long and steady series of daily outflows, so much so that they were forced to reduce the number of BTC in their vault from almost 620,000 to less than 290,000.

However, during that period many outflows from GBTC were followed by even larger inflows into other ETFs, so much so that BlackRock’s IBIT and Fidelity’s FBTC alone currently own many more BTC than GBTC has liquidated.

However, starting from the week before the halving, the growth trend had actually stopped. 

Since then, only last Friday IBIT has seen a significant influx of capital again, with GBTC appearing to have stopped recording outflows. 

Note that in the last two weeks, Fidelity’s FBTC has recorded overall more inflows than IBIT, even though it still holds less than 60% of the BTC owned by IBIT. 

The most interesting week in recent times was actually last week, with a significant increase in flows into all new ETFs, except for GBTC, starting from Tuesday the 14th. 

The success of ETFs

The last two weeks of positive inflows have effectively offset the negative outflows of April, bringing the total overall level to over 12 billion dollars net since the launch in January. 

So in just over four months, the new ETFs on Bitcoin spot from US exchanges have managed to acquire a total value comparable to that of the main gold ETFs.

In fact, the main gold ETFs in the world are Invesco Physical Gold A, with almost $13.3 billion in AUM, iShares Physical Gold ETC by BlackRock, with over $12.3 billion, and Xetra-Gold with just under $11.5 billion. 

It is worth noting that the latter was launched in 2007, which means it is almost 17 years old, while Invesco’s is from 2009, which is the same age as Bitcoin. 

The world’s largest Bitcoin ETF, GBTC, has over 19 billion dollars in AUM, even more than the largest gold ETF. It was launched in 2013, so it has been around for 11 years.

BlackRock’s has over 18 billion dollars in AUM, thanks to the fact that since it started buying Bitcoin in January, the value of BTC has risen by 55%, going from $38,500 on January 23 to the current $67,000.

In light of this data, the success of the new ETFs on Bitcoin spot on the US stock exchanges appears remarkable, although largely due to the increase in the market value of BTC. 

It should be remembered, however, that ETFs are primarily a tool for speculating on the price of BTC in the short term, so they can alternate between periods of large inflows and periods of large outflows. The above data should therefore not be considered definitive in any way. 

The government of Venezuela has recently decided to ban crypto mining in an attempt to protect the national electrical grid. This move follows a series of crackdown actions that have also led to the confiscation of 2,000 mining devices in the city of Maracay.

Venezuela: The energy crisis pushes the ban on crypto mining

According to a local news agency, the Ministry of Electric Energy of Venezuela has announced specific plans to disconnect cryptocurrency mining farms from the national electrical grid.

This decision aims to regulate the excessive energy consumption by mining operations and ensure a stable supply of electricity for the population. An enforcement action therefore aimed at protecting and ensuring a more important common good.

The Ministry has indeed emphasized the need and duty to offer efficient and reliable electrical service to the Venezuelan population, eliminating the pressure caused by these high-energy consumption activities.

Crypto mining and energy consumption in Venezuela

In the last ten years, Venezuela has faced significant problems with its electrical grid, blackouts have become increasingly frequent, to the point of being a daily occurrence. Impacting and damaging citizens and economic activity. 

The situation has drastically worsened since 2019, causing even more widespread inconvenience. 

This is therefore the situation of strong discomfort and widespread discontent that has pushed the government to take drastic measures to stabilize the energy supply.

Mining of cryptocurrencies has always been known for its high energy demands.

Processes like Bitcoin mining require huge amounts of electrical energy to power the computers that solve complex mathematical algorithms needed to validate transactions.

It is not surprising that countries like China and Kazakhstan have already implemented strict regulations or completely banned mining due to concerns about energy consumption.

Context of corruption and arrests

The decision of Venezuela to ban cryptocurrency mining is also linked to a broader anti-corruption initiative. 

Several high officials have indeed been arrested on charges of corruption, among them stands out the name of Joselit Ramírez, the former head of the National Superintendence of Cryptoassets.

It is worth noting that Rafael Lacava, governor of the state of Carabobo, has highlighted the importance of public collaboration in detecting illegal mining operations. He encouraged all citizens to report any illicit activities to law enforcement.

Conclusions

The decision of Venezuela to ban cryptocurrency mining represents a significant attempt to address the chronic problems of the electrical grid and to combat corruption. 

However, as the country tries to stabilize its energy supply, it remains to be seen how this move will influence the future of cryptocurrency mining in the region and how local miners will respond. 

In a recent blog post, Vitalik Buterin expressed his opinions on three key issues regarding the decentralization of Ethereum: MEV, liquid staking, and node hardware requirements. 

Buterin explained that many of the concerns related to the centralization of Ethereum can be addressed through smart protocol designs and updates, some of which are already being implemented.

Let’s see below all the details. 

Decentralization of Ethereum: Vitalik Buterin’s response

As anticipated, Vitalik Buterin, co-founder of Ethereum, responded to the criticisms directed at the blockchain in a detailed blog post, analyzing three fundamental issues for the centralization of Ethereum.

MEV (Miner Extractable Value), liquid staking and hardware costs for managing a single node are the three key points.

Buterin has observed that concerns about the design of Ethereum in these three key areas are “widely shared” and added:

“These are concerns I have personally had on many occasions.”

However, according to Buterin, these problems might not be as difficult to overcome as some argue.

In his post, published on May 17th, Buterin first addresses the issue of MEV, which is the financial gain that sophisticated node operators can obtain by reordering transactions within a block.

Buterin distinguishes two approaches to MEV: “minimization” (reducing MEV through the design of intelligent protocols, like CowSwap) and “quarantine” (attempting to reduce or eliminate MEV altogether through in-protocol techniques).

Although the MEV quarantine may seem like an appealing option, Buterin notes that this perspective carries some risks of centralization: 

“If builders have the power to completely exclude transactions from a block, attacks can easily arise-” 

However, Buterin has supported builders working on MEV quarantine through concepts like transaction inclusion lists, which “take away the builder’s ability to completely exclude transactions from a block.” 

“I think that the ideas in this direction – really pushing the quarantine box to be as small as possible – are really interesting, and I am in favor of going in that direction.” 

Buterin: reducing barriers for solo stakers, a crucial step

Vitalik Buterin has addressed the issue of the low number of solo stakers on Ethereum. 

In particular explaining that many prefer to use centralized staking providers like Coinbase or decentralized solutions like Lido and RocketPool. 

This choice is due to the complexity, hardware requirements, and the minimum of 32 ETH needed to run an Ethereum node independently.

While acknowledging the progress made in reducing the costs and complexity of managing a single node, Buterin emphasized that “there is still more that we could do.”

Suggesting the possibility of reducing the time required to withdraw ETH in staking or lowering the minimum requirement of 32 ETH to become a solo staker, as stated:

“Incorrect answers could lead Ethereum down a path of centralization and ‘recreation of the traditional financial system with additional steps’; correct answers could create a shining example of a successful ecosystem with a wide and diversified set of individual stakers and highly decentralized staking pools.”

High hardware requirements for nodes: the civil debate

Regarding the high hardware requirements for nodes, Buterin admitted that the issue is more complex. 

However, he acknowledged that with the implementation of Verkle Trees and the upcoming EIP-4444, “the hardware requirements of a node could plausibly eventually decrease to less than one hundred gigabytes, and perhaps almost to zero if we completely eliminate the responsibility of storing the history (perhaps only for non-staking nodes).” 

Buterin concluded his post urging the Ethereum ecosystem to confront difficult questions rather than avoid them: 

“… We should have a deep respect for the properties that make Ethereum unique and continue to work to maintain and improve those properties as Ethereum grows.”

In a post on X, Buterin added that he is happy to see a civil debate among community members: 

“I am really proud of the fact that Ethereum does not have a culture that tries to prevent people from expressing their opinions, even when they have very negative feelings towards important things in the protocol or ecosystem. Some wave the ideal of ‘open discourse’ as a flag, others take it seriously.”

Bitcoin (BTC) has recently completed its fourth Halving in history. We are now entering a new era for Bitcoin, and everyone’s attention is on what its price reaction will be in the near future. 

Given the regularity with which in the past the completion of a Halving has marked the beginning of important bullish movements of Bitcoin, even this year’s has fueled the expectations of investors and industry operators. However, unlike the past, the one that recently occurred stood out from previous events for a series of unique factors, the consequences of which will all need to be evaluated in the coming months.

The fourth era of Bitcoin

The fourth Halving in Bitcoin’s history has now passed, occurring around 02:00 on April 20, 2024, when miner rewards were reduced from 6.25 BTC to 3.125 BTC per block. The halving took place at block number 840,000, marking the beginning of a new cycle (a new ‘era’) of approximately four years in which miners and investors will have to adapt to the new conditions of the network.

One of the main differences compared to the past is that the fourth Halving took place in a context of greater maturity of the cryptocurrency market, with a more established presence of institutional investors and a more defined regulatory framework, as evidenced by the launch of some ETFs on BTC spot.

The previous Halvings, in 2012, 2016, and 2020, occurred at different stages of Bitcoin’s growth. Each event was accompanied by an increase in public awareness and adoption of Bitcoin, which by 2024 can now be considered well established as a widely recognized financial asset, even by traditional financial institutions.

After the last Halving, the price of Bitcoin has not yet shown the surge that many had predicted, based on speculative expectations. This time the market had probably already anticipated the event, but that doesn’t mean we won’t see a significant impact on the price in the coming months.

As seen from the graph in Figure 1 (source Bitbo.io), which shows the trend of the price of Bitcoin in various eras compared to the previous era’s minimum, the most important bull markets actually always started several weeks after the completion of a Halving.

Figure 1 – Comparison of different BTC eras: shows the price of BTC compared to the minimum price of the previous era

Furthermore, this time, the event was preceded by a new all-time high, a distinctive element compared to previous Halvings. This has created a unique market context, with high levels of attention and speculation, and an atmosphere of strong optimism and high expectations for the near future.

Another important factor to consider is that investors during previous Halvings were on average less prepared, with many people entering the cryptocurrency market for the first time, mainly driven by media frenzy and expectations of quick profits, but without even basic training. Today, an increasing number of informed investors potentially have already developed long-term strategies, based on in-depth analysis and a better understanding of the dynamics of this market. This has led to more informed investment decisions that have limited short-term volatility.

Over time, financial institutions and large companies have also started to enter the cryptocurrency market, mainly thanks to the recent approval of Bitcoin ETFs. For the 2024 Halving, the presence of these institutional players has likely helped support and stabilize the price, as these actors tend to operate with a more calculated and long-term investment perspective.

All this has certainly had an impact, but it does not alter the substance: the growth of Bitcoin continues its march, in parallel with its digital “scarcity” increasingly close to the limit of 21 million BTC. Currently, the circulating supply of Bitcoin amounts to about 19.6 million Bitcoin, so already today the majority of the tokens that will ever be in circulation have already been ‘mined’, but to reach their totality it will be necessary to wait until the next century, around 2140, precisely due to the effect of future Halvings.

The miners’ reaction

The first effects of each Halving primarily concern miners, who see their production costs of BTC doubled compared to the same resources needed for operation. As in past years, the mining industry will have to adapt to the new conditions, and it is not excluded that there will be fewer and fewer actors holding market shares in the sector. In the first Halvings, many miners found themselves in a difficult position, having to decide whether to continue their activity despite reduced rewards. This often led to increased volatility in the hash rate, with potential security vulnerabilities in the network. However, the growth in the price of Bitcoin should help miners, as has actually happened in every past cycle. In 2020, for example, Bitcoin went from about $10,000 to a rally that brought the asset above $60,000.

Figure 2 – Bitcoin price in its current cycle compared to past cycles (in red the historical highs)

However, it is not automatic that the same scenario will occur in 2024. Global economic conditions are very different from the past, and even Bitcoin itself has shown different price movements, with a particular bullish push in the pre-Halving period, leading to a new all-time high price. For this reason, investors are moving with particular caution in these weeks, waiting for the response of the first cryptocurrency in the short term.

Expectations for the end of 2024 

Looking towards the end of 2024, although many analysts suggest caution, there is a moderately optimistic sentiment regarding the price prospects of Bitcoin, also thanks to the continuous increase in the adoption of Bitcoin as a store of value that could favor a stable price growth.

The reduced selling pressure from miners could have an impact in this sense, as they were generally better equipped than in the past to deal with the event, with more efficient technologies and optimized operational strategies, which allowed them to maintain a stable hash rate despite the decrease in rewards.

Furthermore, global macroeconomic conditions, such as inflation in major economies, and central banks’ monetary policies, will continue to influence the cryptocurrency market. A potential economic crisis or turbulence in traditional financial markets could see an increase in demand for Bitcoin as a safe haven asset, positively influencing its price.

The future of Bitcoin post-Halving appears anchored, not only to its induced scarcity, but also to its growing recognition as a legitimate asset class. Discussions between regulators and industry leaders could further shape the landscape, with potential impacts both positive and negative on the price.

Conclusions

In conclusion, the 2024 Halving reflects a more mature and stable Bitcoin market, with better informed investors and less susceptible to drastic fluctuations based on short-term speculation. This evolution signals a phase of consolidation for Bitcoin as a mainstream financial asset.

The measured reaction of the market reflects a maturation of both the cryptocurrency and its investor ecosystem. The coming months will be crucial to observe how these dynamics will evolve in response to global macroeconomic variables and developments in the cryptocurrency sector, which is increasingly focused on mass adoption.

Until next time and happy trading!

Andrea Unger

SPONSORED POST*

Despite a marketwide sideways trend, Dogecoin is the biggest meme coin, with a market capitalization of over $22 billion. DOGE’s price is on track for a 15% climb, with indicators showing signs of a possible surge. Shiba Inu’s price performance comes at a close second, with a 120% jump in 2024.

Compared to Dogecoin and Shiba Inu, Raboo is outperforming most meme coins with its integration of AI and Social-Fi into its platform. Raboo’s $RABT has already surged to $0.0042, up from $0.003. 

Dogecoin continues to lead meme coins thanks to Tesla’s endorsement

Dogecoin’s long-term holders might be on track to get rewarded for holding the pioneer meme coin thanks to recent market indicators that show that Dogecoin is headed for a “golden cross.”

Dogecoin’s 3% surge in a couple of hours adds momentum to predictions about its potential breakout of $0.30. Reports of Tesla’s plan to officially accept Dogecoin as a payment option on its website have also sent Dogecoin surging over 35% as the meme coin’s trading volume surpasses $1 billion per day. Beyond the spot market, interest in Dogecoin has also increased in the derivatives market as Dogecoin Futures registered a 9% increase.

According to market analysts, Dogecoin could see its price dip if it fails to break resistance levels at the $0.154 price mark.

Could Shiba Inu’s price be staging a possible recovery? 

After a remarkable rally in 2021 that saw Shiba Inu’s price surge over 45,000,000%, SHIB collapsed 92% following the market-wide collapse of meme coins at the time. 

Currently ranked the second-biggest meme coin in terms of market capitalization, Shiba Inu struggles with adoption, given that Shiba Inu’s price is driven by speculation from new buyers. Although Shiba Inu’s developers have tried to introduce some utility with the development of Shiba Eternity (a digital card game) in the past, the community’s enthusiasm has faded.

However, recent data showing an inflow of SHIB whales could suggest buying activity that sets Shiba Inu’s price for an uptick.

Raboo’s social-fi approach is changing how meme coins work

Out of all the emerging meme coins, Raboo’s Social-Fi and AI-backed meme coins are setting the pace for the sector’s future. Raboo’s $RABT is building a post-to-earn platform where users can earn from their AI-generated posts and memes. 

Raboo plans to become one of the top 20 cryptocurrencies with a focus on creating a community of meme coin lovers worldwide. Users will also earn from engaging with community members, and smart contracts will be used to ensure transparency and trust.

According to market analysts, Raboo is on track to grow 233% by the end of its ongoing presale, where investors have already raised over $1.3 million.

Conclusion

Compared to Dogecoin and Shiba Inu’s price, Raboo is paving the way for the future of meme coins. While Dogecoin and Shiba Inu have already surged, Raboo is still at its presale and is predicted to hit a 100x return on launch day.

You can participate in the Raboo presale here.

Telegram: https://t.me/RabootokenPortal

Twitter: https://twitter.com/Raboo_Official

*This article was paid for. Cryptonomist did not write the article or test the platform.

SPONSORED POST*

The cryptocurrency market is poised for another potential bull run and traders are searching for the best cryptos that will yield the highest returns. Among them, three stand out: Rollblock (RBLK), Ethereum (ETH) and Fantom (FTM). While you may know ETH and FTM as the top crypto coins, RBLK is a Stage 2 presale star that may rise by 50x in 2024. 

Rollblock (RBLK): The Best New Crypto To Invest In 

Rollblock (RBLK) is gaining mass appeal thanks to its outstanding presale performance. It has now provided early buyers with a 20% ROI while raising over $250K. This number will increase to $1M before May 2024 ends. As a result, Rollblock is making a name for itself as a top crypto to buy. 

Rollblock launched an innovative online crypto casino that uses blockchain tech to its full potential. For example, Rollblock differs from its rivals like Fairspin by removing the need for KYC checks. Now, you can register using an email only, which means you remain anonymous. Since no additional downloads are required, the onboarding process is very straightforward.

However, Rollblock’s main attraction point is its revenue-sharing model. In other words, Rollblock dedicates up to 30% of its weekly earnings to buying back RBLK tokens off the open market. Next, 50% of them are burned, while 50% are used as staking rewards. This feature makes Rollblock’s passive income capabilities tremendous. 

RBLK is in Stage 2 of its presale and costs $0.012 – a 20% rise from its starting price of $0.01. As the presale advances, more price rises will happen. Experts predict a 50x surge once a Tier-1 CEX lists RBLK in Q3 of 2024. Plus, RBLK has ties to the online gambling market, which is projected to reach $744B by 2028 – making RBLK one of the best coins to invest in. 

Michaël Van De Poppe: Ethereum (ETH) To See Good Times Ahead

Recently, Ethereum (ETH) has been soaring on the price charts. According to CoinMarketCap data, the price of Ethereum increased by over 70% in the past year alone. Crypto analyst Michaël Van De Poppe remains bullish as he claims it is now at the end stage of the correction. His X post claims that good times are coming for this crypto in just a few weeks. 

The technical analysis for the Ethereum coin is also bullish. It trades above its 100—and 200-day EMAs while boasting 22 green technical indicators. Because of this, experts have made a positive Ethereum price prediction. They forecast a surge to $3,836 for ETH within Q2 of 2024, which makes it a good crypto to buy. 

World of Charts With a Bullish Fantom Price Prediction

Meanwhile, Fantom (FTM) is also emerging as a potential good option in the crypto market. CoinMarketCap data shows that the Fantom price soared nearly 120% on the YTD chart. The crypto analyst World of Charts also made some bullish statements. According to him, Fantom could experience a 250%-300% surge soon. 

The future of the Fantom coin also appears bright if we look at its technical analysis. Notably, around 29 technical indicators are in the buy zone for Fantom. As a result, market analysts predict that FTM will reach a value of $1.03 before the end of Q2 2024. 

Rollblock vs. Ethereum vs. Fantom – Which One Could Surge First? 

While all three of these assets are top crypto coins to watch, one stands out. Rollblock has a major advantage over Ethereum and Fantom since it has a low market cap of $12M. This means it needs fewer new funds for its price to increase. If you wish to capitalize on its growth, sign up for its presale and obtain VIP bonuses. 

Discover the Exciting Opportunities of the Rollblock (RBLK) Presale Today!

Website: https://presale.rollblock.io/

Socials: https://linktr.ee/rollblockcasino 

*This article was paid for. Cryptonomist did not write the article or test the platform.

In recent days, the price of XRP, the Ripple cryptocurrency, has slightly increased, probably due to some positive news that circulated last week. 

The trend of XRP and the latest crypto news on Ripple

Currently the price of XRP is about $0.51.

This is a price level in line with that of October 2023, before the recent bull run started.

However, it is also the price level it had in June of last year, and it turns out to be lower than that of the beginning of 2021. 

Actually, it is even in line with that of October 2018, so much so that it could even be stated that the price of XRP has been moving sideways around the half dollar for almost six years now, although during this period it has not been at all still. 

In 2017, before the great bull run that brought it to its historical highs of $3.8 in January 2018, its price was just under $0.3, so the current price is only 70% higher than it was seven years ago. 

When the first major speculative bubble burst in 2018, the price of XRP first dropped to 0.5$, and then fell below 0.3$. The worst, however, came in the following years, with a decline to 0.15$ in March 2020 at the beginning of the pandemic. 

In the rest of 2020, it managed to approach 0.3$ again, before jumping up to almost 0.7$ by the end of the year. However, at that point the SEC started the lawsuit against Ripple and XRP, and during the great bull run of 2021 the price failed to exceed 2$. 

With the burst of the second bubble in 2022, the price of XRP returned to around $0.3, and since then it has continued to fluctuate between $0.3 and $0.7 with a very brief exception in July 2023 thanks to the favorable ruling in the lawsuit against the SEC. 

Current trend

During 2024 it first dropped from $0.63 to $0.5, then rose to $0.71 but only to fall back to $0.48 in April. In the last month it has fluctuated within a very narrow range, between $0.48 and $0.56.

Starting from May 7th, it had begun a descent that brought it down to $0.49 last week, before rebounding slightly and bringing it back above $0.52 last Friday. 

Yesterday, however, it slightly dropped to 0.50$, before rising back up to 0.51$ today. 

Practically in the last twelve days it has fluctuated between $0.49 and $0.52. 

So even though last week saw a small rebound, it is simply normal movements within the sideways range that has been going on for two months now. 

Furthermore, even extending the analysis a little further back in time, it has been since July of last year that it has not been well above $0.7. However, at least it has been more than a year since it has not fallen below $0.48. 

The crypto news on Ripple (XRP)

Given that it has been twelve months since nothing really interesting has happened to the price of XRP, neither positively nor negatively, recent news has only been able to move it within the sideways trading range. 

Surely last week the good news about inflation in the USA also had positive consequences on the price of XRP. However, they were not able to unlock the crypto market, now relatively flat for some weeks.

One interesting thing has happened. 

Indeed, according to Santiment data, XRP whales (wallets holding between 1 million and 10 million XRP) have increased the total number of XRP held by a whopping 110 million, thus increasing their wealth in this cryptocurrency by about 55 million dollars in just the last two weeks. 

This suggests a period of accumulation. 

Furthermore, on-chain transactions have increased by 108% in the first quarter of 2024, with a total of 251.39 million transactions in three months on the XRP Ledger. 

This is a number not much lower than that of the Ethereum blockchain, which however does not include transactions on layer-2.

What is surprising, however, is the cost of transactions, because on the XRP Ledger the average cost in the first quarter was only $0.000856 per transaction, while on Ethereum it is more than a thousand times higher. 

Quantum computing

In addition, yesterday Ripple published an article regarding the potential issues that cryptocurrencies could face due to quantum computers. 

As part of our #UBRI series, explore the intersection where blockchain meets quantum computing with Professor Massimiliano Sala from @UniTrento. Gain insights into the quantum challenges facing blockchain and strides towards quantum-resistant cryptography.https://t.co/UnpxUfCX5D

— Ripple (@Ripple) May 18, 2024

The article concerns the insights of Professor Massimiliano Sala, a mathematics professor at the University of Trento in Italy, regarding the impact of quantum computing on blockchain. 

According to Sala, quantum computers could easily solve fundamental problems for digital signatures, potentially undermining the mechanisms that protect users’ resources on blockchain platforms. 

However, Sala also highlighted the progress made by the cryptographic community towards the development of “post-quantum” cryptographic schemes designed to resist potential attacks carried out using quantum computers. 

It is therefore a real problem, although not current, and well known, for which some possible solutions are already known. 

However, Sala advises crypto organizations to start transitioning to quantum-resistant technologies now, because although such threats are not imminent, they would be significant enough to justify proactive measures. 

In this regard, Ripple is organizing a national XRPL Hackathon involving over 20 universities and 60 developers from November 21st to 23rd, 2024 in Rome.

Some recent forecasts indicate that the price of the crypto Solana (SOL) could rise towards $170, with the possibility of reaching $1,000 by June. 

In addition, Solana leads the market with 91 million daily transactions, surpassing Ethereum, according to a report by CoinGecko.

On the other hand, Phantom Wallet has reached the third place in the utility category on the Apple App Store, and many cryptocurrency experts see this as a bullish indicator for Solana. 

Let’s see below all the details. 

The crypto Solana (SOL) towards new price targets: forecasts by June

The crypto Solana (SOL) is currently trading at around $172.84, recording a decrease of 0.53% in the last 24 hours, with a daily trading volume of $2.19 billion. 

Ranked fifth, Solana has a market capitalization of $77.59 billion and a circulating supply of 448.92 million SOL coins.

On the 4-hour chart, the key pivot point is at $171.79, crucial for short-term price action. Immediate resistance is at $176.66, followed by $183.26 and $188.53.

On the downside, immediate support is at $165.72, with further levels at $156.75 and $151.08. The relative strength index (RSI) is at 73, indicating overbought conditions.

The 50-day Exponential Moving Average (EMA) is at $155.79, supporting the overall bullish trend. The bullish channel confirms this trend, but the resistance around $175 could represent a significant barrier.

If Solana remains above the pivot point of $171.79, it could support its bullish momentum. However, a drop below this level could trigger a selling trend, bringing the price towards supports at $165.72, $156.75, and $151.08. 

The market response at these levels will be crucial in determining the short-term price direction. Solana’s technical outlook remains positive as long as it stays above the pivot point of $171.79. 

The immediate resistance at $176.66 will be the first obstacle to overcome, followed by $183.26 and $188.53. The high RSI suggests caution, as overbought conditions could lead to a pullback. 

The 50-day EMA at $155.79 provides a solid foundation for the upward trend currently in place.

Solana leads the blockchain market with 91 million daily transactions

Solana has proven to be the fastest blockchain among the main ones, processing an incredible number of 91 million transactions in just one day.

According to a recent update from CoinGecko, on April 6th Solana recorded a daily average of 1,504 transactions per second (TPS) during the memecoin frenzy.

This makes it 46 times faster than Ethereum and over five times faster than Polygon, which is the fastest scaling solution of Ethereum.

Despite its position as a leader in speed, Solana has only reached 1.6% of its theoretical maximum speed of 65,000 TPS. 

The increase in transactions has caused congestion on the network, raising questions about Solana’s ability to achieve higher real TPS after the upcoming updates.

The second fastest blockchain, according to the report, is Sui, another platform not based on Ethereum Virtual Machine (EVM), which reached a real TPS of 854 in July 2023 thanks to the popularity of the on-chain game Sui 8192. 

Other non-EVM blockchains include TON with 175 TPS and Near Protocol with 118 TPS. On the other hand, Aptos has recorded 49 TPS, Starknet 12 TPS, Bitcoin 11 TPS, and Thorchain 2 TPS.

Non-EVM blockchains have outperformed EVM and EVM-compatible blockchains with an average peak TPS of 284, compared to just 74 average TPS of the 17 top EVM-based blockchains. 

Binance Smart Chain (BSC) has distinguished itself as the fastest among EVM blockchains, reaching a real TPS of 378 on December 7, 2023, thanks to the increase in on-chain activity. 

Polygon, the main scaling solution for Ethereum, reached 190 TPS on November 16, 2023, resulting in being 8.4 times faster than Ethereum itself.

Phantom Wallet conquers third place on the Apple App Store: what does it mean for Solana?

The cryptocurrency Phantom Wallet portfolio recently reached the third position on the Apple App Store in the utility category, just behind Google and Google Chrome apps.

Crypto commentators suggest that this rise could indicate a bullish future for the Solana (SOL) token, as Phantom Wallet was originally launched as an exclusive wallet for Solana. 

The cryptocurrency entrepreneur Evan Luthra commented on X on May 19 as follows:  

“It seems like the SOL season will be great! Which SOL coins should I buy?.” 

The crypto influencer Borovik has added: 

“Phantom wallet is the third most important utility app, I am so bullish on cryptocurrencies and Solana.”

Phantom Wallet has recently surpassed seven million monthly active users, as reported in a post on April 29 on X. The crypto community usually sees an increase in monthly users as a sign of broader adoption. 

Currently, Phantom Wallet is ranked 32nd among all categories in the Apple App Store, behind X and the artificial intelligence chatbot ChatGPT. Although initially designed for Solana, Phantom Wallet now also supports Bitcoin, Ethereum, and Polygon.

The cryptocurrency trader Shear believes that if the exchange Coinbase, currently ranked 288th, and Phantom Wallet were to enter the top 10 of the Apple App Store, it could mark a market peak. 

Shear, in a post on May 18th, stated: 

“These are my favorite indicators, I will sell everything when they are both in the top 10.”

SPONSORED POST*

Online slots have captured the hearts of millions of gamers worldwide, offering a blend of thrilling entertainment and the potential for significant payouts. But what turns an ordinary slot session into a successful one? In this comprehensive guide, we will delve into the winning strategies, tips, and tricks that can elevate your game, increase your odds of winning, and make your online slot experience both enjoyable and lucrative.

Understanding Online Slots: The Basics

Before diving into complex strategies, it’s crucial to grasp the basic mechanics of online slots. These games are powered by Random Number Generators (RNGs), which ensure that each spin is independent of the previous one, providing a fair and unpredictable gaming experience. Online slots vary widely in themes, features, and payout structures, so understanding the specific rules and paytables of the games you choose to play is essential.

Selecting the Right Slot Machine

Not all slot machines are created equal. To maximize your chances of winning, you need to pick the right game. Here are a few tips to guide you:

Payout Percentage (RTP): Look for slots with a high Return to Player (RTP) percentage, ideally above 96%. This metric indicates how much of the total bet amount the slot pays back to players over time.

Volatility: Slots with high volatility offer larger payouts but less frequent wins, while low volatility slots provide smaller but more frequent payouts. Choose based on your risk tolerance and playing style.

Features and Bonuses: Games with features like free spins, multipliers, wilds, and scatters can increase your chances of hitting a win and add excitement to your gameplay.

Setting Up Your Game Plan

Effective money management is key to long-term success in online slots. Here are some strategies to manage your bankroll:

Set a Budget: Decide on a maximum amount you are willing to lose before you start playing. Stick to this budget to avoid any unpleasant surprises.

Choose Your Bet Size Wisely: Adjust your bet size based on your overall bankroll. This will allow you to enjoy the game longer and increase your chances of hitting a big win.

Know When to Stop: It’s important to know when to call it a day, whether you’re winning or losing. Setting a win limit can be as crucial as setting a loss limit.

Advanced Slot Strategies

While slots are largely based on luck, employing advanced strategies can help tilt the odds in your favor:

The Max Bet Rule

Many slots offer increased chances of hitting big jackpots or entering bonus rounds when you play the maximum bet. Always check the rules of the game and if your bankroll supports this strategy, consider using it judiciously.

Utilizing Free Spins and Bonuses

Online casinos often offer free spins and bonuses to play slots. These promotions provide an opportunity to win money without risking your own, so always take advantage of them. Be sure to read the terms and conditions, as there may be wagering requirements or other restrictions.

Play Progressive Jackpots

For those dreaming of life-changing wins, progressive jackpot slots are the way to go. These games pool a portion of each bet across multiple casinos into a massive jackpot. Remember, playing these often requires placing the maximum bet, and the odds of winning are comparable to those of winning the lottery.

The Psychological Aspect

Maintaining the right mindset is crucial in online gambling. Here are some tips to help keep your head in the game:

Stay Focused: Online slots can be mesmerizing. Make sure to take breaks, hydrate, and keep a clear mind.

Emotional Control: Don’t chase your losses or get too carried away with wins. Stick to your gaming plan regardless of your emotional state.

Enjoy the Game: Remember, slots should primarily be fun. Choose games that you find entertaining and thrilling, regardless of their payout statistics.

Staying Safe and Secure

When engaging in online gambling, choosing a reputable and secure online casino is paramount. Ensure the casino is licensed and has good player reviews. Secure payment methods and data encryption are also crucial for your safety and peace of mind.

Conclusion

Mastering online slots involves understanding the game mechanics, wisely managing your bankroll, and making informed choices about which games to play. By combining these practical tips with a disciplined approach, you can enhance your chances of success and enjoy the thrilling world of online slots to its fullest. Remember, responsible gambling is the best strategy to ensure that your gaming experience remains positive and enjoyable.

*This article was paid for. Cryptonomist did not write the article or test the platform.

SPONSORED POST*

In the dynamic world of cryptocurrencies, BlockDAG (BDAG) is quickly establishing itself as a premier investment. Amid significant development activities in Chainlink and bullish price movements in Mantle, BlockDAG’s innovative keynote presentation has captured the industry’s attention. With $28 million raised in the latest presale and features that simplify mining and enhance scalability, BlockDAG is leading the evolution in digital finance. Predictions place its potential market value at $30 by 2030, highlighting its promising future.

Chainlink’s Development Hits a Rough Patch

Chainlink, known for its crucial role in blockchain infrastructure, is currently sending mixed signals in the market. Despite increased activity on GitHub, particularly in integrating real-world assets, Chainlink is witnessing a downturn in network participation and financial performance. Active daily users and revenue have significantly decreased, with user numbers dropping by 66% and revenue by 90% last month. The price of LINK has struggled to rise above $16.041 after falling from $20.737, with indicators like the Chaikin Money Flow and Relative Strength Index suggesting bearish trends.

Mantle Gains Momentum Amidst Market Optimism

Mantle is experiencing a surge in interest, thanks partly to a new prize pool campaign that has piqued the interest of many developers. The expansion of its ecosystem is evident, with a notable increase in active addresses and DeFi commitments, as reported by Messari for Q1 2024. Predictions suggest Mantle’s price could reach $1.30 by the end of the year, supported by positive technical indicators, positioning it as a formidable player in the Web3 domain.

BlockDAG Sets Industry Standards with Viral Keynote

BlockDAG’s viral keynote displayed spectacularly at Tokyo’s Shibuya Crossing, has outlined several distinctive features that set the platform apart. The keynote highlighted BlockDAG’s user-friendly mining technology, including mobile and home mining options, which democratize the mining process, enabling users to effectively mine BDAG coins. This accessibility has broad appeal, attracting both cryptocurrency novices and seasoned enthusiasts.

Additionally, BlockDAG’s infrastructure, built on a Directed Acyclic Graph (DAG) with a Proof-of-Work (PoW) consensus, offers superior speed and security. This scalability is crucial for supporting the network’s growing demands while ensuring robust security through its consensus mechanism.

The strong presale performance, which has already reached $28 million with coins priced at $0.008 in the current batch, reflects deep market trust and robust investor support. These factors combine to make BlockDAG a highly attractive investment with substantial future growth potential of hitting $30 by 2030.

BlockDAG as the Optimal Crypto Investment

While Chainlink struggles with engagement and Mantle builds its market position, BlockDAG’s comprehensive strategy and robust market presence establish it as the optimal cryptocurrency investment today. The success of its keynote has not only propelled its$28 million presale achievement but also set a clear path toward a bright future of $30 by 2030. With innovative solutions for mining, a commitment to scalability and decentralization, and a thriving presale phase, BlockDAG is poised to become a leader in the cryptocurrency space. Investors eager for significant opportunities are turning to BlockDAG, drawn by its potential to deliver returns as high as 30,000x.

Join BlockDAG Presale Now:

Website: https://blockdag.network

Presale: https://purchase.blockdag.network

Telegram: https://t.me/blockDAGnetworkOfficial

Discord: https://discord.gg/Q7BxghMVyu 

*This article was paid for. Cryptonomist did not write the article or test the platform.

SPONSORED POST*

A CryptoQuant analyst revealed how Toncoin (TON) has outperformed Bitcoin by 118% since the start of 2024, alongside outperforming other popular Layer-1 chains, and claimed that it is a crypto worth watching in the bull cycle. Additionally, the KangaMoon (KANG) community has been buzzing, especially after BitMart announced that it will list KANG soon, which will make it far more accessible. To see why these cryptos have reached the spotlight, we will go over their on-chart performance and updates.

Toncoin (TON) Seen As the Best Coin to Invest in According to CryptoQuant Analyst Ben Sizelove

Leading CryptoQuant analyst Ben Sizelove revealed that Toncoin (TON) is one of the best altcoins to follow in the upcoming bull market. The key reasons why the Toncoin crypto was chosen is because it has outperformed Bitcoin by 118% since the start of 2024, and is one of the most popular Layer-1 blockchain which has managed to outperform most competitors.

Moreover, the tremendous performance of the Toncoin price was due to an active and strong community with the support of Telegram, and the analyst also said that it is in an upward trend against both USD and BTC. According to the Toncoin price prediction, the crypto can reach $3.22 by the end of Q4, 2024, and the analyst views it as the best coin to invest in.

KangaMoon: A Meme Coin With Genuine Utility and a BitMart Listing on the Horizon

KangaMoon (KANG) is more than just an average meme coin as it is building a Play-to-Earn (P2E) ecosystem with Social-Fi features offering real utility beyond just the hype. The KANG token has already surged 400%, attracting over 20,000 users with 6,000 actively holding the token. The KangaMoon game enables players to take control of characters, battle, and win KANG tokens and even NFTs, fueling the project’s growth. The innovative Social-Fi model implemented on top of the ecosystem also rewards active social media users with free KANG tokens, fostering a passionate and invested community.

The price rocketed from a low point of $0.005 to $0.025, a price that it trades at during the Bonus Stage of the presale, which is the last opportunity traders have to buy the token at a discount, making it the best cryptocurrency to buy today. Moreover, BitMart made an announcement that they would list the KangaMoon crypto on top of their exchange, and analysts are now projecting a 100x price increase following its launch. WIth a massive growth and trader appeal, KangaMoon is poised for even further CEX listings following its Q2 2024 launch.

Making the Right Diversification Decision

The major CryptoQuant analyst is bullish on the future of Toncoin, however, alongside it, KangaMoon positions itself as one of the most promising cryptos, as it offers real utility, a thriving community, and exciting exchange listings on the horizon. These aspects position KANG as the best cryptocurrency to buy today.

Discover the Exciting Opportunities of the KangaMoon (KANG) Presale Today!

Website: https://Kangamoon.com/

Join Our Telegram Community: https://t.me/Kangamoonofficial

*This article was paid for. Cryptonomist did not write the article or test the platform.

SPONSORED POST*

With the cryptocurrency industry evolving, many smart investors pay close attention to clues that could suggest a lucrative altcoin season. 

Crypto analysts identified a specific bullish pattern, which means that the stage is set for a large-scale altcoin season, and investors could profit from emerging projects.

With the high probability of a forthcoming profit round, one project that could stand out is RCO Finance (RCOF), a decentralized trading platform built on blockchain technology that will redefine the entire investment market.

A Key Advantage: Purchasing Real-World Assets with Crypto

One major strength of RCO Finance (RCOF) is its flexibility in letting users buy US stocks with crypto. This groundbreaking feature allows investors to enter an unseen world of opportunity and quickly diversify their portfolios.

Investors may look for platforms offering more than cryptocurrencies as the cryptocurrency market grows. 

RCO Finance’s decentralized trading platform could meet this demand by providing a smooth experience for users who want to trade crypto and stocks on one convenient platform.

Leveraging AI for Smarter Trading Decisions

RCO Finance (RCOF) is an AI-powered trading platform that could lead to higher investor preference. 

With advanced algorithms and machine learning techniques, this AI tool can detect market trends and identify excellent investment opportunities, allowing users to capitalize on market movements. 

With AI shaping all walks of life, crypto traders would be drawn to platforms revolutionizing Defi, such as RCO Finance (RCOF). 

The platform would cater to experts and new investors, providing an easy and efficient way of participating in the increasingly volatile crypto market.

Tapping into the Potential of DeFi

Integrating RCO Finance (RCOF) into DeFi may strengthen its competitive advantage. The platform could allow users to join the fast-growing ecosystem by providing various DeFi products, including automated market-making, yield farming, and pools.

In addition, RCO Finance (RCOF) makes an effort to issue DeFi cards to users. These cards represent an ownership stake in its protocol and projects. That’s not all. Investors can use them to participate in Defi activities across the globe.

RCO Finance (RCOF) Presale: Leading The Charge In Crypto Investment

RCO Finace’s (RCOF) currently has an ongoing presale token that would allow early investors to exploit several financial avenues. 

The presale has been audited, and investors can purchase RCO Finance (RCOF) tokens at a discounted price of $0.0127, presenting a tremendous investment opportunity.

Also, there’s a catch for early investors: They will receive a 30% bonus as part of the presale period offering. This will allow them to be among the first to earn on the platform’s growth prospects.

The project has sold over 6 million tokens in presale volume during its first presale stage. In the next stage, the prices may increase up to $0.0343. The project’s promise of high returns makes the RCOF presale an attractive target for many crypto investors.

For more information about the RCO Finance (RCOF) Presale:

Visit RCO Finance Presale

Join The RCO Finance Community

 *This article was paid for. Cryptonomist did not write the article or test the platform.

New week, new crypto horoscope dedicated to the upcoming week from May 20th to 26th.

This week will be characterized by four transits:

The Sun enters Gemini from Monday 20/5;

Full Moon in Sagittarius on Thursday 23/5;

Venus enters Gemini on Thursday 23/5;

Jupiter enters Gemini from Saturday 25/5.

For several months now we have been dedicating space to the crypto horoscope written by Stefania Stimolo, an expert in astrology and blockchain. It is a weekly column with the horoscope of each zodiac sign available every Sunday only on The Cryptonomist. 

In our slogan “We Tell the Future”, we wanted to delve deeper into the topic, jokingly speaking, with this entertainment column. 

The crypto horoscope

We call it crypto horoscope simply because industry terminology is used. 

Words like NFT, metaverse, and Over-The-Counter to describe actions and scenarios, but also trading terminology like bullish, bull run, bear market, or dump to identify the mood of each zodiac sign during the days of the week.

Obviously, the famous to-the-moon cannot be missing to indicate the mood of that sign! 

In general, you could experience a period of “hard-fork”, intended as an “inner split”, or pass your lightning torch to the next zodiac sign, meaning that the Sun is moving to the next sign. 

Or, simply, you need to reflect on some situations that go into “verify“, that is when the planet is in dissonance with the zodiac sign. Not only that, with each new change of guard of the Sun through the constellations of the zodiac, the roadmap of each sign will touch a new step. 

Obviously no investment advice is given, in fact, it is pure entertainment, just like any other horoscope. It must be said that there are many beginners in the sector who have understood the specific crypto terminology also thanks to the horoscope on The Cryptonomist. 

“Don’t Trust, Verify”

Astrology is not an exact science, but it aims to predict the future in its own way. So why not associate the typical phrase of blockchain “Don’t Trust, Verify” here as well. 

And in fact, what the author wants to propose is her interpretation of the planetary transits that occur during the week, describing the reaction of each zodiac sign, following the “logic” of traditional astrology. 

For those who are astrology lovers, they could stay updated just by following the weekly transits that are communicated and somehow influence us. Whether it’s a Mercury Retrograde or the days of the Full Moon. 

Others, on the other hand, may access the dedicated page, which is updated every Sunday, and read the horoscope of their zodiac sign, their rising sign, or why not, even the horoscope of friends and loved ones. 

And so, just for entertainment purposes, don’t waste time and click here to read your horoscope for this week!

The crypto world is constantly evolving and, while meme coins have seen explosive growth, a new trend is quickly emerging: SocialFi platforms. 

These platforms are capturing the market’s attention and, in some cases, are even surpassing meme coins in terms of influence. Alvin Kan, COO of Bitget Wallet, provides a detailed overview of the unique relationship between SocialFi and meme tokens, highlighting the key similarities and differences between these two phenomena.

Crypto world: Similarities in distribution strategy between SocialFi and meme coins

The SocialFi platforms use token distribution strategies similar to meme coins. For example, DEGEN tokens are not subject to pre-mining and 15% of the total supply is allocated to ecosystem development over a four-year period.

The rest is distributed through airdrops and liquidity incentives, common practices also in the distributions of meme coins. This fair and community-oriented distribution is a characteristic that both categories share.

Functional applications of SocialFi platforms

A distinctive aspect of SocialFi platforms is their ability to offer more functional applications compared to meme coins.

A significant example is the friend.tech token, which not only introduces unique applications but also engaging elements like ‘Clubs’.

These elements increase the level of engagement and challenges for users, creating a more interactive and dynamic experience. 

However, this complexity could also narrow the audience, limiting the appeal of SocialFi platforms compared to meme coins, which are often simpler and more accessible.

Bitget Wallet and meme coins: the crypto trend before SocialFi tokens

Bitget Wallet has cleverly leveraged the trends of meme coins, introducing new features and activities that support transactions with these cryptocurrencies. The company has indeed integrated the most popular blockchains, integrated support for new meme coins into the ecosystem, and improved swap transaction capabilities. 

Furthermore, the launch of their own meme coin – MOEW – and the organization of various meme-themed activities, have led Bitget Wallet to be considered a leader in the meme coin sector.

The evolution of the market and the role of DEX

Alvin Kan observes that the growth of decentralized exchanges (DEX) has provided a solid foundation for trading meme coins. 

Kan says:

“The industry has shifted from being focused on capital to being community-oriented, marking a significant transition”.

This year, in fact, the cryptocurrency market has been looking for the big narrative to follow after the era of Bitcoin ETFs. Meme coins have therefore proven to be a successful candidate.

Conclusion

SocialFi platforms represent a new frontier in the world of cryptocurrencies, challenging meme coins in terms of influence and market interest. With similar distribution strategies but more functional and engaging applications, SocialFi platforms offer an interesting alternative that could redefine the cryptocurrency landscape.