Tether, the company behind the popular stablecoin USDT, has announced an ambitious plan to invest up to 1 billion dollars over the next 12 months: the investments will be primarily focused on emerging markets, artificial intelligence (AI), and biotechnologies, sectors considered strategic for the future of technology and the global economy.

A new chapter for Tether in AI

Tether is known for its predominant role in the cryptocurrency market. The stablecoin USDT is used worldwide as a medium of exchange and store of value due to its stability pegged to the US dollar. However, the company has decided to expand its reach beyond the cryptocurrency sector, exploring new investment opportunities that could have a significant impact on the technological and financial landscape.

Emerging markets represent one of the main areas of interest for Tether. These markets offer enormous growth potential and present unique opportunities for technological innovation. By investing in these countries, Tether aims to support the development of digital and financial infrastructures that can improve access to financial services for millions of people.

Investing in emerging markets will not only help stimulate economic growth in these regions, but it will also allow Tether to expand its global presence. The company could use its experience and resources to support innovative projects that foster financial inclusion and promote the adoption of blockchain technologies.

Artificial intelligence is another crucial sector for Tether. In the last two years, Tether’s venture capital (VC) branch has already invested around 2 billion dollars in AI and alternative financial infrastructures. This demonstrates the company’s commitment to supporting the development and implementation of advanced technologies.

AI has the potential to transform numerous sectors, from healthcare to finance, from manufacturing to services. The applications of artificial intelligence can improve operational efficiency, reduce costs, and create new business opportunities. For Tether, investing in AI means not only supporting innovation but also ensuring that the company remains at the forefront of technology.

The future of biotechnologies

Biotechnologies represent another promising investment field for Tether. This sector has shown significant growth in recent years, thanks to advances in scientific research and the increase in investments in innovative healthcare solutions.

Biotechnologies offer the possibility to develop new medical treatments, improve the quality of life, and address some of the world’s most urgent health challenges. For Tether, investing in this sector means contributing to solutions that can have a positive impact on global health and supporting cutting-edge scientific research.

Tether’s investments in the next 12 months do not represent a radical change, but rather a continuation of the company’s strategy to support innovation and technological growth. In the last two years, Tether’s VC branch has demonstrated its commitment by investing around 2 billion dollars in crucial sectors such as artificial intelligence and alternative financial infrastructures.

This new wave of investments is a strong signal of Tether’s determination to maintain a leadership position in the global technology landscape. The company not only wants to be a key player in the world of cryptocurrencies, but also a promoter of innovation and progress in emerging and high-impact sectors.

Conclusion

The announcement by Tether to invest up to 1 billion dollars over the next 12 months in emerging markets, artificial intelligence, and biotechnology represents a strategic move that could have a significant impact on these sectors. These investments will not only support innovation and economic growth but also strengthen Tether’s position as a global technological leader.

With the continuous commitment to supporting innovative and high-impact projects, Tether demonstrates to be not only a force in the cryptocurrency sector but also a catalyst for positive change worldwide. As we look to the future, these investments could represent a fundamental step towards a more connected, efficient, and sustainable world.

This article was paid for*

One of the fastest growing cryptocurrencies – Base Dawgz (DAWGZ) – has hit another major milestone. The new meme coin has now raised over $1 million is its presale in just over a week. 

Well done to all the $DAWGZ on raising the first million

Now we can take all of you skydiving pic.twitter.com/eIPDUTOrQ9

— Base Dawgz (@BaseDawgz) June 12, 2024

Base meme coins are growing quickly in demand, largely due to Brett’s explosive rally. Brett – the top Base token – has surged close to 400% over the past month and has a market capitalization close to $1.7 billion. 

Experts are now backing Base Dawgz to replicate Brett’s meteoric ascent, considering its early presale performance and strong fundamentals. 

Base Dawgz – The Fastest Growing Cryptocurrency On Base 

Despite Brett’s bullish price action, the Base meme coin sector is largely untapped. 

Experts believe that Base tokens have the potential to outperform Solana meme coins in the long term, considering that the former can onboard 100 to 200 million users from the Coinbase exchange. 

LOOK AT THE TOP memecoins in their first 200 days!

as you can see $BRETT is on a faster and stronger trajectory than any memecoin in history outside of WIF who it will flip inevitably

Why will the #1 meme on Base flip the #1 meme on Solana?

Users.

Base is going to be able to… pic.twitter.com/z0iWYMFDAi

— Crash (@CrashiusClay69) June 11, 2024

And yet, only one Base token today has a market cap of over $1 billion while only two tokens have a valuation of over $100 million. Even more surprising is that none of the top three tokens on the chain are dog-themed meme coins.

DAWGZ is strategically positioned to fill this vacuum and emerge as one of the top Base meme coins. 

However, the new meme coin’s reach is not limited to Base itself. Rather, it has adopted a multi-chain nature and is already live on Solana, Ethereum, BNB Smart Chain and Avalanche.

Multi-chain meme tokens are becoming the new meta, considering they go live on popular DEXs and CEXs of each exchange. This strategy affords them maximum visibility across chains, which leads to more investors and higher growth. 

It also makes it easier for investors to purchase the token. For instance, interest buyers can purchase DAWGZ during its ongoing presale by swapping any of ETH, BNB, SOL, USDT or AVAX. It’s, therefore, no surprise that DAWGZ is one of the fastest growing cryptocurrencies on Base. 

However, certain features are accessible only on specific chains. For instance, Base Dawgz’s staking protocol will go live on ETH and will only be available for investors buying the meme coin with ETH. 

Nevertheless, investors will easily be able to switch their holdings across chains, thanks to the project’s use of advanced Web3 tools such as Wormhole and Portal Bridge that enable seamless interoperability. 

Dawgz Boasts Impressive Fundamentals – Share-to-earn, Tokenomics, Audit 

Unlike most run-of-the-mill meme coins, Base Dawgz is not aiming to rely solely on hype. Instead, it has adopted strong fundamentals to attract meme coin investors, both retailers and deep-pocketed ones alike. 

For instance, DAWGZ has introduced a novel share-to-earn program, offering free crypto to investors in exchange for popularizing the meme coin on social media. 

Interested participants can share Base Dawgz-related content – including memes and the latest project updates – on their social media and earn points. These points can later be redeemed for additional $DAWGZ tokens. 

Alternatively, investors can create their own referral links from the Base Dawgz website. They can then receive a percentage of each presale investment made through their links. 

Not only can the participants earn free crypto through this share-to-earn program, but they would also be contributing to DAWGZ’s growing demand, which in turn would increase the value of their holdings. 

Additionally, Base Dawgz has adopted community-centric tokenomics, with no separate allocation for the developer team or any private sale. 

In fact, 55% of the token supply is explicitly reserved for investors – 20% for the ongoing presale, 20% for staking rewards and another 15% for additional community rewards. The remaining tokens will allocated towards liquidity, exchange listings and marketing. 

Finally, the DAWGZ smart contract has been audited by Solid Proof, which revealed no vulnerabilities or centralization risks. 

How To Buy Base Dawgz In Presale?

As previously stated, Base Dawgz is one of the fastest growing cryptocurrencies. However, this means that its presale is selling out extremely quickly.  

Smart money traders and crypto influencers are also fueling the FOMO, with popular trader ClayBro recently stating that Base Dawgz could create millionaires. 

Interested buyers have a short window to get in on Base Dawgz early. They can head to its presale website and use the over-the-counter widget to buy the new meme coin. 

They are also advised to follow the Base Dawgz X and Telegram accounts to keep up with the latest updates. 

Visit Base Dawgz Presale

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

The Fondazione TON has recently announced the beginning of season 4 of The Open League, its prominent community incentives initiative. This launch not only marks a new chapter in the program but also highlights an important milestone for the foundation: surpassing Ethereum in terms of daily active addresses.

This result is a testament to the growing popularity and trust in the TON ecosystem, which aims to integrate cryptocurrency into daily life, offering users financial freedom and digital sovereignty.

The Open League: a catalyst for the growth of the TON project

The Open League has been fundamental in the rapid rise of TON. Designed to reward competing projects and participants in the ecosystem, the League has attracted millions of users, fostering an engaged and active community. The pilot program of the initiative, launched in March, laid the groundwork for unprecedented growth in several key metrics:

Daily Active Wallets (DAW): 568,000, an impressive increase of 1,403%

Weekly active wallets: 2.2 million, up by 1,308%

Monthly active wallets: 3.5 million, an increase of 775%

Total value locked DeFi: $320.2 million, an increase of 1,298%

Total value locked overall: $637.6 million, up 402%

Average number of daily transactions: 4.2 million, an increase of 372%

In the last three months, the TON Foundation has distributed around $40 million to the community, highlighting its commitment to incentivizing participation and growth. The main distributions include:

1.4 million Toncoin for liquidity pool increases

726,000 Toncoin in airdrop

$8.5 million in prizes for the winning teams

4 million Toncoin for the USDT pools

Season 4: new features and expectations

The season 4 of The Open League introduces several updates aimed at further improving the user experience and competitive dynamics. In particular, the major and minor leagues have been merged, simplifying the competition. The top 10 projects in the ranking at the end of this season will receive significant increases in liquidity pools from the TON Foundation in season 5, providing even greater incentives for participation.

Jack Booth, Marketing Director of the Fondazione TON, expressed his enthusiasm for the new season: “We are excited to start Season Four! The last three months have shown that the community is believing in our vision of a fun, transparent, and rewarding ecosystem model. TON is the blockchain for mass adoption: simple and engaging systems introduce new users to TON in Telegram, putting cryptocurrency in every pocket.”

Driving forces behind the success of TON

Various factors have contributed to the rapid growth of the TON blockchain and its recent surpassing of Ethereum in terms of daily active addresses:

Native integration of USDt: The inclusion of Tether (USDt) has improved the liquidity and utility of the TON ecosystem, making it more attractive for users and investors.

Telegram Mini Apps easy to use: The seamless integration of Mini Apps within Telegram has simplified user interactions with blockchain technology, promoting greater engagement and adoption.

Unrivaled scalability: The ability of the TON blockchain to handle a vast number of transactions efficiently was demonstrated last month when it onboarded 841,170 Notcoin users in 24 hours.

Looking ahead

The strategic initiatives of the Fondazione TON and the launch of season 4 of The Open League highlight its commitment to building a robust and user-friendly blockchain ecosystem. By continuing to reward and engage its community, TON not only fosters growth but also sets a benchmark for other blockchain projects.

As the Fondazione TON looks forward to the continued success of The Open League and its broader ecosystem, the blockchain community eagerly awaits further innovations and milestones. The rapid growth of active users and transactions signals a bright future for TON, positioning it as a formidable player in the blockchain space.

In conclusion, the launch of season 4 of The Open League is more than just a simple continuation of a successful program; it is a clear signal of the growing importance of TON and its potential to redefine the landscape of digital finance and blockchain technology.

London, United Kingdom, June 12th, 2024, Chainwire

Doggy AI (DOGYAI)has swiftly accumulated over $101,000 in its presale shortly after launch, and the DOGYAI team sees this as an encouraging start in the meme coin market.

Built on the Ethereum blockchain, Doggy AI combines meme culture with advanced AI technology. It aims to attract a broad community by offering daily staking rewards, with the potential for participants to enhance their holdings efficiently.

Presale Achievements and Allocation

The presale of Doggy AI has already surpassed $101,000, with no hard cap specified in the whitepaper. Thirty percent of the token’s 69 billion total supply is allocated for the presale. The allocation plan also designates 20% for staking rewards, 10% for community incentives, 10% for exchange liquidity, 20% for marketing efforts, and the remaining 10% for project support and expansion.

Users can purchase DoggyAI $DOGYAI here. 

Innovative Technology Meets Meme Culture: The New Era of Crypto Marketing

Doggy AI is rallying its vibrant community with the goal of ascending to the pinnacle of the meme coin market, showcasing a progressive model of modern community engagement.

This project caters to a wide range of investor profiles by integrating advanced AI technology within a meme coin format. It appeals to both traders interested in high-risk ventures and those focused on long-term value.

Doggy AI aims to emulate the success of similar ventures like Corgi AI and Turbo, which have effectively merged advanced technology with meme culture.

However, Doggy AI stands out from its predecessors in several ways. First, its playful name and branding capture the contrarian essence of memetic culture. Additionally, its staking rewards are designed to mitigate the volatility typical of meme coins.

Staking Rewards and Market Strategy

The staking supply will be gradually released over two years, initially targeting early participants for rewards. The team hopes these rewards will decrease as more users join the staking pool.

However, these significant rewards are reserved for early participants, as the staking benefits will diminish as more users join the staking pool. The team plans for the prices to rise progressively throughout the presale, rewarding early investors with greater value for their investment.

$DOGYAI is currently trading at $0.000289, but the next uptick will occur in one day or when the total raise hits $714,285.71.

Users can follow Doggy AI on X or join its Telegram to stay updated.

Project Name: Doggy AI 

Token Name: $DOGYAI

Deployment Network: Ethereum

Soft Cap: $8,835,000

Hard Cap: $10,000,000

Presale Start Date: 07/06/2024

About DoggyAI

DoggyAI ($DOGYAI) introduces a unique fusion of meme. culture and artificial intelligence to the cryptocurrency ecosystem. By leveraging AI technology and the viral nature of memes, DoggyAI aims to create a fun, engaging, and rewarding experience for its community.

Contact

Marketing Manager
Thomas Bellingham
Doggy AI
Marketing@web-3-media.com

SPONSORED POST*

The re­cent volatility in the cryptocurrency marke­t has left investors uncertain about the­ impact of the US dollar’s strength on digital assets. In this climate­ of unpredictability, astute investors are­ exploring newer ave­nues for higher ROI. The Algote­ch (ALGT) presale stands out as an enticing choice­, especially for holders of Cardano (ADA) and Doge­coin (DOGE) who wish to broaden their investme­nt horizons and seize the opportunitie­s presented by automate­d trading platforms.

Despite the challenging circumstances, the Algotech presale has successfully garnered more than $6.5 million, showcasing the project’s promise and attracting cryptocurrency enthusiasts. This presale, which is presently in its bonus phase, provides ALGT tokens at a price of $0.08, presenting a profitable chance for initial investors to acquire a share in this pioneering trading platform.

US Debt Hits $34 Trillion, Market Outlook Darkens

Concerns about incre­asing interest rates and the­ massive $34 trillion US debt burden have­ darkened the marke­t’s outlook, leading investors to reconside­r their investment approache­s. Amid the Fe­deral Reserve­’s efforts to tackle inflation and fiscal challenge­s, the possibility of tightening monetary policie­s further may worsen the alre­ady unstable conditions in the cryptocurrency marke­t.

Still, there e­xists some optimism among certain industry expe­rts regarding the future prospe­cts of cryptocurrencies. Jack Mallers, the CEO of Strike, a promine­nt Bitcoin payment application, holds a positive outlook. 

He e­nvisions a scenario where the­ current circumstances might propel the­ price of Bitcoin to new heights, pote­ntially ranging from $250,000 to $1 million within the upcoming 10 to 18 months. This positive sentime­nt is rooted in the anticipation that the Fe­deral Reserve­ could engage in monetary practice­s that devalue the curre­ncy, prompting investors to turn towards alternative asse­ts like Bitcoin.

Cardano and Dogecoin Face Market Pressure, Prices Drop Significantly

Following the market volatility. Cardano’s value has se­en a decline ove­r recent months, dropping from a high of approximately $0.75 in March 2024 to its curre­nt level of around $0.4243. Cardano’s decre­ase is linked to various factors like conce­rns regarding the project’s de­velopment plan, uncertain re­gulations, and the prevailing negative­ sentiment in the cryptocurre­ncy market. 

Meanwhile, Dogecoin (DOGE) has e­ncountered considerable­ price volatility. Initially rooted in online humor, Dogecoin garnered attention from both individual inve­stors and prominent figures. Howeve­r, Doge­coin has recently faced challe­nges in sustaining its performance. 

Afte­r reaching a peak value of approximate­ly $0.7376 in May 2021, DOGE’s price has sharply declined to around $0.1387, marking an 81% drop. This significant downturn can be­ attributed to various factors, including early investors locking in profits, waning social me­dia interest, and the broade­r market decline.

Currently, Dogecoin is valued at $0.139833, with a 24-hour trading volume reaching $55.87 billion. Its market capitalization is $20.20 billion, representing a market dominance of 0.82%. In the last 24 hours, DOGE’s price has fallen by 2.73%.

Cardano ADA & DOGE Holders Dive into Algotech

The pre­sale of ALGT is attracting Cardano (ADA) and  Doge­coin (DOGE) holders looking to expand the­ir investment portfolios and venture­ into the profitable domain of algorithmic trading. By participating in the ALGT toke­n presale, these­ individuals can secure a share in the­ platform’s future prosperity and capitalize on pote­ntial value growth as the project advance­s.

Algotech strive­s to enhance traders’ capabilitie­s and offer tailored strategie­s using advanced algorithms, machine learning, and artificial inte­lligence. The platform is e­quipped with solid risk management tools and a fle­xible framework to minimize losse­s and boost trading performance.

Algotech’s de­dication to transparency, decentralization, and e­thical AI practices resonates strongly within the­ crypto community, igniting a surge of interest in the­ presale. Moreove­r, the platform’s unique reward syste­m, which grants a portion of the company’s profits based on investme­nt levels, serve­s as a compelling incentive for e­arly supporters.

Learn more:

Visit Algotech Presale

Join The Algotech Community

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

Recently the crypto market has not been performing very well: in this article we will analyze in particular the trend of MATIC of Polygon and APT of Aptos.

Furthermore, we will take stock of the situation regarding Bitcoin dominance and the highly anticipated altseason. 

The trend of the crypto MATIC of Polygon and the comparison Aptos (APT)

MATIC is the crypto of the Polygon project. It is a token originally issued on the Ethereum blockchain, but now also present on other blockchains, including Polygon’s native one.

Polygon in turn is one of the major layer-2 of Ethereum.

The trend in the crypto markets for the price of MATIC is not particularly good. 

In particular, 2024 is turning out to be a disappointing year, unlike other criptovalute, primarily Ethereum, which overall are performing well this year.

The 2024 of MATIC can be divided into two distinct phases. 

The first one, which started already in January, was characterized by a sharp decline contrary to the overall crypto market trend, and ended in mid-April. 

At that point, a second phase began in which the trend of MATIC returned to being in line with that of the main altcoins. 

In particular, analyzing the trend of the price of MATIC compared to that of ETH (Ethereum), the reference cryptocurrency for altcoins, a real collapse of 53% is noted from the end of December 2023 to mid-April, followed by a further -18% concentrated in the following month. Starting from May 22, the price of MATIC in ETH has remained substantially stable. 

Taking instead the price in US dollars (USD), there was a strong growth from $0.5 in October 2023 to $1.27 in March 2024, but afterwards it ended up dissipating almost all the gains, falling to $0.6. 

In particular, from $1.04 at the end of December to $1.27 in March, the gain was minimal (+22%), just while ETH was marking an excellent +165%. The main problem for this 2024 for the Polygon token has been precisely this. 

The trend of the crypto APT of Aptos

The discussion regarding the price trend of the cryptocurrency APT of Aptos is similar. 

Analyzing the trend of its price compared to ETH, it is noted that from October 2023 to March 2024 it had increased, unlike MATIC which was also losing against Ethereum during that period, but then it crashed. 

Currently, the value of APT against ETH has dropped to an all-time low. 

In particular, the real collapse occurred in the first half of April, because starting from the second half of the month it began to decline much more slowly. 

Examining instead the price in dollars, in the last seven days it appears to be down as much as ETH, but in the last thirty it loses 4.5% while ETH gains 20%.

Starting from October 2023, the price of APT in USD first rose from 5% to 10$ until the end of the year, doubling in value in less than two months, and then further rising to over 18$ by March 2024. However, that was in all respects a mini-speculative bubble, which burst in April and ended up bringing the price of APT back to the current 8$, which is a value lower than that of the end of 2023. 

In reality, however, the current value is similar to that of the minimum peak in January, so it would seem to have been just the burst of a mini-speculative bubble due to temporary FOMO. 

Currently, APT is at -60% from its all-time highs, even though these were recorded only last year since the Aptos cryptocurrency debuted on the crypto markets in 2022, in the midst of a bear-market after the great speculative bubble of 2021. 

It is worth noting that the $18 reached in March of this year are not very far from the $19.9 all-time high recorded in January of last year. 

The dominance of Bitcoin

The data that allows for a better visualization of the situation regarding the possible altseason is the dominance of Bitcoin.

In September of last year, it had fallen below 50%, according to TradingView data.

At the end of October, it had already risen to 54%, but by the end of 2023, it had returned to 51%.

Starting from the end of January 2024, it began a long and almost constant rise that brought it to over 56.5% by mid-April. At that point, it had started to decline, theoretically making the start of an altseason possible, but this decline stopped just below 54% at the beginning of May. 

This dynamic has in fact made an altseason in April impossible. 

After climbing back above 56% in mid-May, with the approval of ETH on Ethereum spot, it had dropped again, but the drop once again stopped too soon, always just below 54%. 

So not even at the end of May could an altseason be triggered. 

Since then, moreover, the dominance of Bitcoin has started to rise again, and now it is at 55.5% ready to return above 56%. 

These data reveal that at this moment there is still no room for the trigger of an’altseason. 

How are the crypto Pepe (PEPE), Kaspa (KAS), and Ethereum (ETH) performing? Below is an overview of current and future prices and the latest news featuring them. 

Fluctuations in the price of Pepe: return to the all-time high or descent towards critical support?

When the price of Bitcoin fell below the crucial support level of $68,000, the meme coin sector experienced a significant contraction, with the main cryptocurrencies in this segment seeing a substantial loss of value. 

Among the most affected tokens, PEPE has continued to show a marked bear trend, recording a correction in the last 24 hours.

With the bearish sentiment dominating the market, a question arises spontaneously: will the price of Pepe manage to retest its all-time high (ATH) or will it slip towards the critical support level of $0.00000880?

After a week of weak performance, Pepe managed to regain momentum, recording an impressive growth of 157.85% before encountering a pullback at the resistance level of $0.00001150. 

The bulls managed to reclaim the support level of $0.00000880, which led to a doubling of the price over the next eight days, culminating in a new ATH of $0.00001718 on May 27.

However, after reaching this new all-time high, Pepe experienced a sharp bear reversal. 

Since then, the price of the coin has been traded under strong selling pressure, indicating a negative influence for the meme coin in the cryptocurrency market.

If the price manages to stay above the support level of $0.00001150, the bulls could regain momentum, potentially pushing the price of PEPE to test the resistance level of $0.00001410. 

Furthermore, if the bull manage to keep the price at that level, Pepe could be preparing to retest its previous ATH within the current month.

On the other hand, if the bear were to prevail, the price of Pepe could drop below the support level of $0.00001151 and head towards the critical support of $0.00000880 in the coming weeks.

Kaspa ready to reach the all-time high after overcoming the key resistance

The proof-of-work (PoW) cryptocurrency Kaspa seems ready to reclaim its all-time high of $0.18, after surpassing the long-term resistance level located at $0.14.

Between April 12 and June 2, the price of KAS oscillated within a range, forming a horizontal channel. The upper part of the channel acts as resistance, while the lower part represents support. KAS found resistance at $0.14 and support at $0.1.

Since the beginning of June, KAS has recorded a significant increase in trading volume. For example, on June 3, the daily trading volume of the altcoin reached 165 million dollars, the highest level since November 2023, according to data from Santiment. 

This increase in trading activity pushed the price of KAS above the upper line of its horizontal channel on June 3, indicating a close above the resistance.

The analysis of price movements on a daily chart suggests that KAS could continue its bull trend. 

The relative strength index (RSI) and the money flow index (MFI) of the altcoin were respectively at 79.91 and 70.44, confirming an increase in demand. These indicators show that the buying pressure on KAS has surpassed the selling pressure.

The price of the crypto Ethereum compared to PEPE and Kaspa

The recent data from CryptoQuant has highlighted a bear phase for Ethereum (ETH), with futures traders showing a strong selling bias.

The cryptocurrency community is closely watching these developments, especially as Ethereum struggles to stay above $3,500, adding further pressure to an already unstable market. 

The data from CryptoQuant provides an insight into the current market conditions of Ethereum, suggesting a possible continuation of the negative trend. The analysis focuses on the “Taker Buy Sell Ratio,” a key indicator of market sentiment in the futures sector.

This metric measures the balance between buying and selling activities: a ratio above 1 indicates a predominance of buyers, reflecting greater buying pressure, while a value below 1 highlights aggressive selling. 

Unfortunately for investors and Ethereum enthusiasts, this ratio has recently fallen below 1, indicating that sellers are outnumbering buyers.

This bearish trend is confirmed by the significant drop in the Taker Buy Sell Ratio, which has shown a clear shift towards the dominion of the sellers. 

Aggressive sales could be driven by traders looking to capitalize on speculative gains or reduce risks in a context of high market volatility.

The persistence of this trend represents a worrying signal for the short-term prospects of Ethereum, which struggles to find stable support levels. 

The cryptocurrency analyst Shayan BTC, who shared this update on the quick-take platform of CryptoQuant, observed:

“The significant drop in this metric is a bear signal, suggesting that the current downward retracement could continue if this trend persists.”

SPONSORED POST*

London, United Kingdom, June 12th, 2024, Chainwire

GBM Auctions has announced the completion of the first charity Bid-to-Earn auction for the Polkadot ecosystem. The event, which was hosted on the Moonbeam Network, raised over $92,000 for charity and showcased the GBM’s novel bidding mechanism.

On May 16, GBM Auctions commenced the week-long auctions that saw three unique Polkadot-related items offered to the public: physical copies of the Ethereum Yellow Paper, the Polkadot White Paper, and the JAM Gray Paper, each signed and annotated by Dr. Gavin Wood. 

Bidders used the native Moonbeam token GLMR for bidding, with funds from the event going to the Ukraine Humanitarian Appeal charity. The auction utilized Moonbeam’s scalable architecture, which supports fast bidding and low gas fees. In the process, it demonstrated the versatility of the unique auction format pioneered by GBM Auctions.

With a Bid-to-Earn auction, every bidder earns an incentive in the event of being outbid. This provides incentives for greater bidding volume, helping to raise more funds for the project in question. In the process, it ensures that all participants make something from the sale, including the bidders who are eventually outbid.

Hugo McDonaugh, co-founder of GBM Auctions, shared his thoughts on the success of the auctions:“We are delighted with the outcome of the auctions and they surpassed all our expectations. The auction results prove just how powerful our GBM Bid-To-Earn system is.”

The Ethereum Yellow Paper ultimately sold for a top bid of 193,600 GLMR, the Polkadot White Paper for 116,160 GLMR, and the JAM Gray Paper for 60,000 GLMR. In addition to raising $92,000 for charity, the Moonbeam-hosted auction saw the bidders who were outbid collect $12,000 in rewards. The formula has the potential to support a wide range of use cases within the Polkadot ecosystem and the wider blockchain space.

Dr. Gavin Wood, the co-founder of Ethereum and creator of Polkadot, shared his thoughts on the auctions: ​​”I’m proud to have helped raise money for such a humanitarian charity and it’s great to see it happen on Polkadot’s Moonbeam network.”

GBM’s Bid-to-Earn design makes use of smart contracts to provide a transparent and provably fair bidding system. It incentivizes participation while making it easier for the public to bid for items whose fair value may be hard to determine in advance. Through allowing participants to start low and enter increasingly higher bids, the system ensures that a fair value is eventually reached while fairly distributing revenue to underbidders.

Since developing its Bid-to-Earn system in 2018, GBM Auctions has hosted over 70,000 auctions, earning bidders more than $6M in the process. The auction model has been used by leading crypto figures such as Vitalik Buterin and Dr. Gavin Wood to raise money for charity. It has also been harnessed by web3 projects such as Aavegotchi and Unstoppable Domains to distribute NFTs to their communities.

As well as hosting Bid-to-Earn auctions via a dApp, GBM’s system can also be used on secondary marketplaces which enables web3 projects to sell digital assets in a fair manner that eliminates unscrupulous bidding practices while allowing the whole community to participate in a rewarding and engaging experience.

About GBM Auctions

GBM Auctions is the developer of the world’s first Bid-to-Earn auction system. Using web3 technology including smart contracts, it ensures that bidders can make money even when they are outbid. With lifetime volume of over $200M and over $6M earned by bidders, GBM Auctions provides a fair and transparent bidding system for blockchain communities.

Users can learn more: https://www.gbm.auction/

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

London, United Kingdom, June 12th, 2024, Chainwire

GBM Auctions has announced the completion of the first charity Bid-to-Earn auction for the Polkadot ecosystem. The event, which was hosted on the Moonbeam Network, raised over $92,000 for charity and showcased the GBM’s novel bidding mechanism.

On May 16, GBM Auctions commenced the week-long auctions that saw three unique Polkadot-related items offered to the public: physical copies of the Ethereum Yellow Paper, the Polkadot White Paper, and the JAM Gray Paper, each signed and annotated by Dr. Gavin Wood. 

Bidders used the native Moonbeam token GLMR for bidding, with funds from the event going to the Ukraine Humanitarian Appeal charity. The auction utilized Moonbeam’s scalable architecture, which supports fast bidding and low gas fees. In the process, it demonstrated the versatility of the unique auction format pioneered by GBM Auctions.

With a Bid-to-Earn auction, every bidder earns an incentive in the event of being outbid. This provides incentives for greater bidding volume, helping to raise more funds for the project in question. In the process, it ensures that all participants make something from the sale, including the bidders who are eventually outbid.

Hugo McDonaugh, co-founder of GBM Auctions, shared his thoughts on the success of the auctions:“We are delighted with the outcome of the auctions and they surpassed all our expectations. The auction results prove just how powerful our GBM Bid-To-Earn system is.”

The Ethereum Yellow Paper ultimately sold for a top bid of 193,600 GLMR, the Polkadot White Paper for 116,160 GLMR, and the JAM Gray Paper for 60,000 GLMR. In addition to raising $92,000 for charity, the Moonbeam-hosted auction saw the bidders who were outbid collect $12,000 in rewards. The formula has the potential to support a wide range of use cases within the Polkadot ecosystem and the wider blockchain space.

Dr. Gavin Wood, the co-founder of Ethereum and creator of Polkadot, shared his thoughts on the auctions: ​​”I’m proud to have helped raise money for such a humanitarian charity and it’s great to see it happen on Polkadot’s Moonbeam network.”

GBM’s Bid-to-Earn design makes use of smart contracts to provide a transparent and provably fair bidding system. It incentivizes participation while making it easier for the public to bid for items whose fair value may be hard to determine in advance. Through allowing participants to start low and enter increasingly higher bids, the system ensures that a fair value is eventually reached while fairly distributing revenue to underbidders.

Since developing its Bid-to-Earn system in 2018, GBM Auctions has hosted over 70,000 auctions, earning bidders more than $6M in the process. The auction model has been used by leading crypto figures such as Vitalik Buterin and Dr. Gavin Wood to raise money for charity. It has also been harnessed by web3 projects such as Aavegotchi and Unstoppable Domains to distribute NFTs to their communities.

As well as hosting Bid-to-Earn auctions via a dApp, GBM’s system can also be used on secondary marketplaces which enables web3 projects to sell digital assets in a fair manner that eliminates unscrupulous bidding practices while allowing the whole community to participate in a rewarding and engaging experience.

About GBM Auctions

GBM Auctions is the developer of the world’s first Bid-to-Earn auction system. Using web3 technology including smart contracts, it ensures that bidders can make money even when they are outbid. With lifetime volume of over $200M and over $6M earned by bidders, GBM Auctions provides a fair and transparent bidding system for blockchain communities.

Users can learn more: https://www.gbm.auction/

Contact

Head of Marketing
Jake Scott
GBM Auctions
jake@gbm.auction

Recently, former president Donald Trump supported Bitcoin mining, as he believes it is the last ‘barrier’ against central bank digital currencies (CBDC).

Let’s see all the details below. 

Trump sees Bitcoin as the solution to the threat of central bank digital currencies (CBDC) 

As anticipated, the presidential candidate Donald Trump is once again at the center of attention for his growing interest in cryptocurrencies. 

Recently, he indeed emphasized the importance of Bitcoin (BTC) mining. During a meeting at Mar-a-Lago, Trump’s resort in Palm Beach, the former president promised to support Bitcoin mining should he return to the White House.

The meeting saw the participation of various figures from the sector, including representatives from the Nasdaq-listed Bitcoin mining company, CleanSpark Inc., and Riot Platforms. S. 

Matthew Schultz, co-founder of CleanSpark, shared on X that he met Trump, stating:

“I just met a big fan of Bitcoin who appreciates what we are doing with CleanSpark Inc. in Georgia, Mississippi, and Wyoming.”

At the same time, Trump stated on Truth Social his desire for the United States to produce all the remaining Bitcoin, thus motivating his recent support for the miners. Additionally, Trump criticized the current president of the United States Joe Biden, accusing him of being hostile towards BTC.

Trump emphasized that such a position would only favor countries like China and Russia, and believes that Bitcoin mining represents the last defense against central bank digital currencies (CBDC) developed by other nations.

The activity of Bitcoin mining has long been a subject of debate, particularly for its high energy consumption, criticized by both democrats and environmental activists around the world.

According to reports, the United States is the largest consumer of energy for Bitcoin mining, using an impressive one-third of the global electricity consumption for this activity. The country indeed employs 145.6 GWh per year. 

China is in second place with 81.2 GWh, while Kazakhstan occupies the third position with an annual consumption of 50.9 GWh.

USA: the 2024 elections could decide the future of Solana ETFs

With the approach of the 2024 United States presidential elections, the fate of exchange-traded funds (ETF) on altcoins, such as Solana, could be strongly influenced by the political outcome.

Recently, the Securities and Exchange Commission (SEC) has shown some leniency, allowing fund managers to list spot ETFs on Ethereum. 

However, the president of the SEC, Gary Gensler, has warned that it will take time before these ETFs are available. Trump’s victory could increase the chances of approval of an ETF on Solana. 

The speculations on the next potential crypto ETFs have already begun, with Solana emerging as one of the main candidates. 

Cathie Wood, CEO and CIO of ARK Invest, stated that major financial institutions will likely focus on leading cryptocurrencies when proposing new ETFs, citing Solana as a possible target.

Franklin Templeton, which manages approximately 1.64 trillion dollars in assets, praised the significant growth of Solana and suggested the possible launch of an altcoin fund: 

“On Solana, we see Anatoly’s vision of a single atomic state machine as a powerful use case for decentralized blockchains, reducing informational asymmetry. And we are impressed by all the activity seen on Solana in Q4 2023: DePIN, DeFi, Meme Coin, NFT, Firedancer.” 

In the meantime, CoinShares has recorded a significant increase in altcoin holdings among hedge funds and asset managers, with particular attention to Solana. 

Considering Donald Trump’s pro-crypto stance, Bloomberg ETF analyst Eric Balchunas has suggested that his victory could create a more favorable environment for altcoin ETFs. 

Trump could appoint a new SEC commissioner with a more permissive approach towards cryptocurrencies.

According to Balchunas, a Trump victory in the 2024 presidential elections could push ETF issuers to submit numerous new applications to the SEC: 

“If Trump wins, we might see other currencies become ETFs.”

Polygon has unlocked more than 600 million dollars to subsidize blockchain developers over the next 10 years through its Community Treasury.

The first 22 million are already on the way thanks to season 01 of the Community Grants Program (CGP).

Polygon: The funds for blockchain developers

Technically, the unlocked funds consist of one billion MATIC tokens, the native cryptocurrency of the Polygon ecosystem. 

At the current market value, they correspond to just over 600 million dollars, but the price of MATIC is volatile so the dollar equivalent will certainly vary over the next ten years. 

Of this billion MATIC tokens allocated, 35 million have already been made available for the Community Grants Program. At the current market value, they correspond to approximately 22 million dollars. 

The overall supply of MATIC is approximately 9.9 billion tokens, so one billion tokens in ten years corresponds to more than 10% of the entire supply. 

Instead, the 35 million tokens already made available correspond to just 0.35%.

The token MATIC

The price of the MATIC token today is down, but in line with the decline in the price of other criptovalute. 

It does not seem, in fact, that the allocation of 35 million tokens to be distributed shortly to the developers has had a significant impact on the price. 

The most recent significant drop, moreover, was not even yesterday’s, but that of Friday the 7th, so much so that compared to a week ago it is losing 13%. However, this is a perfectly in line drop with that of other cryptocurrencies, therefore at this moment the price trend of MATIC is following the general trend of altcoins. 

What is most concerning, however, is the -35% since the beginning of the year, given that many other cryptocurrencies are instead largely in the positive zone compared to the end of 2023. 

In particular, the current price of the Polygon token is still 79% lower than the all-time high of 2021, despite the numerous positive news released since the beginning of the year. 

The minimum of the bear-market of 2022, that is 0.4$, is still far, but not too much, given that the current price is just above 0.6$.

Moreover, the annual peak of 2024 ($1.27) turned out to be lower than the annual peak of 2023 ($1.48), and this gives a good idea of how 2024 for MATIC is anything but good.

Among the main cryptocurrencies in the world, only ADA of Cardano has similar numbers, while all the other top 15 cryptocurrencies are recording better numbers over the course of the year. 

Only in the last 30 days has the price trend of MATIC resumed following the general trend of altcoins. 

If we then take the price of MATIC in ETH as a reference, the situation is even darker, given that it is at its lowest since April 2021. 

Polygon: The season 01 dedicated to blockchain developers

The season 01 of the Polygon blockchain developer grants program will distribute 35 million MATIC to projects based on its chain.

The applications to request a grant have already been opened. 

100 million POL tokens will be made available each year, while 35 million MATIC tokens have been allocated to season 01. The Community Treasury accumulates POL, but given the ongoing token upgrade, grants for season 1 will be disbursed in MATIC.

The grants will be overseen by an independent committee of the Community Treasury, and applicants will need to adhere to a funding framework. A portion of the grants for season 01 will be distributed by professional grant allocators.

To be admitted to the grant program, it is necessary to meet certain conditions. 

The projects in fact must be based on Polygon, or willing to migrate to Polygon, and must build for the long term.

Among the projects that have already started thanks to Polygon grants are Quickswap, Keom, Jokerace, and Intraverse.

The Polygon team advises submitting grant requests in advance, as such requests are reviewed on a rolling basis. They anticipate an average grant delivery time of about four weeks. Applications can be submitted until August 31.

The two paths

This inaugural season of the Community Grants Program offers applicants two distinct paths.

The first is the so-called General Grant Track, aimed at anyone who wants to develop on Polygon, as it does not impose strict limitations on eligible projects.

The second is instead the so-called Consumer Crypto Track, which focuses on projects that can promote the mass adoption of cryptocurrencies. 

In this path, the use cases aimed at consumers are favored, such as games, gamified commerce, decentralized social, AI/blockchain integrations, NFT innovations, content co-creation, digital/physical intersections, and distributed communities (the so-called scenecoin).

It is, however, only the first season, and future ones might also adopt different criteria.

On the other hand, the 35 million MATIC tokens distributed in this first season are only 3.5% of all the funds allocated for the program, which will be distributed over a period of ten years.

SPONSORED POST*

Predicting the next big winner in the cryptocurrency market is relatively easy. However, with careful analysis, you can identify tokens with the potential for explosive growth. 

This overview explores three Ethereum-based tokens that have captured our attention following promising developments. Are you ready to discover the next crypto moonshot? See if these tokens align with your investment goals.

RCO Finance (RCOF): Unveiling a Feature-Rich DeFi Platform

RCO Finance (RCOF) emerges as a new player in the DeFi space, aiming to improve everyone’s accessibility to good finance. The platform offers tools designed to streamline and diversify investment portfolios. 

RCOF, the platform’s native token, serves multiple purposes. It fuels various DeFi functions within the ecosystem, including governance, staking, and yield farming. Owning RCOF grants investors access to key features and services while providing significant discounts on trading fees.

Moreover, RCO Finance prioritizes security and transparency through a comprehensive smart contract audit. This audit ensures the platform and its blockchain technology are safe from scams.

Additionally, the platform fosters a global and inclusive user base through its decentralized nature and non-KYC approach. The project has cultivated a strong community through active channels like Telegram and Discord, encouraging user interaction and feedback. 

RCOF Presale Sparks Frenzy Over Potential 3,000% Gains

RCO Finance (RCOF) is generating buzz with its presale priced at a low $0.01275 per token. The token’s projected launch price of $0.4 to $0.6 excites investors, anticipating a potential 3,000% increase even before hitting the open market.

Investors can also maximize their investments with RCOF’s AI robo advisor. This automated advisor analyzes market trends, historical data, and real-time information. The AI robo advisor tailors investment strategies for individual users by crunching these numbers. 

This technology eliminates the need for traditional financial advisors or fund managers,  empowering users to make data-driven investment decisions. RCOF holders would automatically be on the positive side of the market.

UNUS SED LEO (LEO): A Token Powering the Bitfinex Ecosystem 

UNUS SED LEO (LEO) is a utility token serving the iFinex ecosystem, encompassing the cryptocurrency exchange Bitfinex. Launched in 2019, LEO benefits Bitfinex users, primarily focused on reducing trading fees.

Beyond fee reduction, LEO is integral to a unique buyback and burn mechanism. A portion of iFinex’s profits are used to buy back LEO tokens from the market, permanently removing them from circulation.

Despite its controversial origin, UNUS SED LEO (LEO) has established itself as a long-term value proposition. The digital currency registers over $6 billion in market cap at a $5.83 price point. Traders are convinced LEO is one rally away from being among the top 20 cryptocurrencies.

Immutable X (IMX): Transforming NFT Trading on Ethereum

Immutable X (IMX) is revolutionizing non-fungible tokens (NFTs) by offering a faster, cheaper, and more secure trading experience on the Ethereum blockchain. Built as a Layer 2 scaling solution, Immutable X (IMX) tackles the limitations of the Ethereum network, specifically the congestion and high gas fees.

The core functionality of IMX lies in its utilization of zk-rollups, a cryptographic technique that bundles multiple NFT transactions off-chain before verifying them on the Ethereum blockchain. Additionally, IMX expedites the trade settlement process by processing transactions off-chain compared to the Ethereum mainnet.

Despite being #21 on market cap ranks, Immutable X (IMX) is gearing up for a bull run. Analysts predict a 170% price appreciation over the next 30 days, potentially surpassing $10 billion volume before year’s end.

RCO Finance (RCOF): Invest Smart and Profit in the Long Term

RCO Finance (RCOF) offers investors an enticing combination of usability and long-term upside potential. As an RCOF token holder, you’ll gain free access to their advanced AI-powered analytical tools, which provide data-driven insights across over 150,000 asset classes. 

In addition, RCOF incentivizes long-term participation through significantly discounted trading fees on their growing decentralized trading platform. This translates to more cost-effective transactions for frequent users over time.

With its potential as a future blue-chip token, RCOF has the potential to deliver enormous returns for early investors. For example, if you invest just $1,000 in RCOF at the current price, your investment could be worth over $30,000 at launch – representing a staggering 3,000% profit. 

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.

Animoca Brands Japan, the strategic subsidiary of Animoca Brands, announced that on June 18 there will be the launch of its NFT launchpad Sorah. The platform will serve to support projects and creators in the sale of their Non-Fungible Tokens. 

Animoca Brands Japan and the launch of the new Sorah NFT launchpad

Animoca Brands Japan, the strategic subsidiary of Animoca Brands, will launch on June 18 its new NFT launchpad, called Sorah. 

SORAH by Animoca Brands Japan
6月18日より提供開始

第1弾として@San_FranTokyoと@TheSandboxGameのNFTを販売#SORAH #animocabrands #アニモカブランズhttps://t.co/savTMpitqD

— Animoca Brands Japan (@Animocabrandskk) June 12, 2024

In practice, Sorah will be a launch platform for NFTs that supports projects and creators in selling their Non-Fungible Tokens. 

Specifically, the launchpad by Animoca Brands Japan aims to provide sales opportunities and multifaceted support for sales and marketing strategies for the NFT projects that will be selected. 

At stake, there will also be a loyalty program like an NFT that will allow users to receive various benefits. 

Thanks to Sorah’s new platform, Animoca Brands Japan aims to become a Web3 portal that better connects Japan with the global community. In fact, among the various objectives is the promotion of Japanese IPs (such as manga and anime) worldwide, also developing content in Japan that generates global interest.

Animoca Brands Japan and the new NFT launchpad Sorah: the inaugural sales

As anticipated, the launch of Sorah will take place on June 18. On this occasion, there will be several inaugural sales such as the San FranTokyo PFP NFT collection “San FranTokyo Visions”, as well as the “Captain Tsubasa Team Collection” and the “SHIBUYA109 FASHION COLLECTION” for The Sandbox.

Specifically, the collection San FranTokyo Visions, sees the sale of 50 NFT at the price of 0.085 ETH each. To give an idea of the project, the description talks about San FranTokyo as an imaginary city that brings together IP and brands, focusing on anime, manga, and pop culture fandom. 

Another collection is then Team Captain Tsubasa of 100 NFT, which will be sold at the price of 60 MATIC each. Here, one is faced with a collection of avatars from The Sandbox of the immortal masterpiece Captain Tsubasa, consisting of a total of 2,060 avatars that include avatars wearing the famous uniforms of Nankatsu Junior High School and Toho Gakuen Junior High School.

And then, still on Sorah, there will also be the inaugural sale of the SHIBUYA109 FASHION COLLECTION, 100 NFT at the price of 60 MATIC each. Published on The Sandbox, here the 2060 total avatars incorporate Japanese trends and culture. 

The holders of this collection will be able to use their avatars to have fun with fashion-themed minigames and play with a series of experiential content that will be available in the metaverse of The Sandbox.

In general, the NFT launchpad of Animoca Brands Japan, Sorah, is supported by the Ethereum and Polygon chains. Not only that, to maintain a limit, the sales of its NFTs are not available to residents of the United States, the United Kingdom, countries subject to sanctions, and other restricted jurisdictions.

The 20 million dollar funding in the metaverse of The Sandbox

Recently, another division of Animoca Brands has also made headlines. It is the decentralized metaverse of The Sandbox which would have obtained a funding of 20 million dollars, thus reaching a maximum valuation of 1 billion dollars. 

The objective is to further develop the creators’ economy within an open metaverse. 

The financing was led by Kingsway Capital and Animoca Brands, with participation from LG Tech Ventures and True Global Ventures. 

ICBC, the largest bank in the world, claims that the crypto Ethereum represents the driving technical force of the digital future, defining it as “digital oil”. At the same time, it describes Bitcoin as “digital gold”. 

Let’s see all the details below. 

According to the bank ICBC, the crypto Ethereum is ‘the digital oil of the 21st century’

As anticipated, the largest bank in the world, the Industrial and Commercial Bank of China (ICBC), is defining Bitcoin (BTC) as “digital gold” and Ethereum (ETH) as “digital oil”.

In a new report shared by Matthew Siegel, head of digital assets at VanEck, the ICBC praises the two main criptovalute by market capitalization.

The report indicates that the market demand for digital assets is robust, driving innovation in the sector.

“The market demand drives the continuous evolution of digital currencies.”

The report compares Bitcoin to gold, highlighting that the cryptocurrency has additional advantages: 

“Bitcoin maintains scarcity similar to gold through mathematical consensus, while simultaneously solving issues related to its divisibility, authenticity, and transportability. Its monetary attributes are weakening, while its asset attributes are strengthening.”

Defining Ethereum as “digital oil,” the report praises the various features of the ecosystem of the leading smart contract platform. Although ICBC highlights some shortcomings of the network, it believes that technological progress will resolve them over time.

“Ethereum has consistently improved its technology in terms of security, scalability, and sustainability, providing a technical foundation for the digital future.”

Sustainability, security, and efficiency

Furthermore, the report reiterates how Ethereum introduces Turing completeness with its unique programming language (Solidity) and the virtual machine (EVM). 

Allowing developers to create a wide range of smart contracts and complex applications, providing strong support to blockchain technology. 

Not surprisingly, says the report, its flexibility is widely recognized in the sectors of decentralized finance (DeFi) and non-fungible tokens (NFT), and it is also expanding to physical infrastructure networks (DePin).

“In essence, the Turing completeness of Ethereum allows it to execute any programming instruction with the necessary resources and correct instructions, but it also poses several practical challenges. Looking to the future, Ethereum developers will continue to work to balance sustainability, security, and efficiency.”

Ethereum under pressure: bear forecasts dominate the market

Ethereum, the second cryptocurrency by market capitalization, is going through a difficult period. 

Its price has indeed failed to surpass the threshold of 4,000 dollars, generating concern among traders and investors. 

To better understand the current market dynamics, it is useful to observe the behavior of the participants in the futures market, according to CryptoQuant.

An important indicator is the Taker Buy Sell ratio, which measures the relative aggressiveness of buyers compared to sellers. 

A ratio greater than one indicates that buyers are more aggressive, while a ratio less than one shows greater aggressiveness on the part of sellers.

Examining the 7-day moving average chart of the Taker Buy Sell Ratio for Ethereum, it is noted that the ratio, which has never exceeded one, has collapsed in recent days. 

This indicates that the sellers have been more active in the futures market, continuing to sell short or to cash in the profits from the gains at the beginning of the year.

A drop so marked in the Taker Buy Sell Ratio is not generally a positive sign for Ethereum. In fact, it indicates that the majority of futures traders are bear on Ethereum and expect a further price drop of the cryptocurrency.

In the macroeconomic context, several factors could reverse this trend. Good news, such as new partnerships, technological discoveries, or regulatory approvals, could restore investor confidence and drive up the price of Ether.

Ripple has launched a new XRPL Japan and Korea fund, with the aim of supporting the innovation of the XRP Ledger for those markets. From what has emerged, the amount dedicated to this fund will be in the tens of millions of dollars. 

Ripple: the new XRPL Japan and Korea fund that supports the innovation of XRP Ledger

Ripple has announced the launch of its new XRPL Japan and Korea Fund to support innovation of the XRP Ledger in the dynamic Japanese and Korean markets. 

We're proud to launch the XRPL Japan & Korea Fund to boost innovation & utility on the #XRPL in APAC!

Includes:
Corporate Partnerships
Dev Grants
Startup Investments
Community Growth

Learn how the fund fosters innovation and growth: https://t.co/zFSekIekrC

— RippleX (@RippleXDev) June 10, 2024

“We are proud to launch the XRPL Japan and Korea Fund to promote innovation and utility of #XRPL in APAC! It includes: Corporate partnerships; Grants for development projects; Investments in startups; Community growth.”

The amount that Ripple has dedicated to this fund is part of the 1 billion XRP, coming from the funds dedicated to XRPL Grantsi and XRPL Accelerator. In the specific case of the Japan and Korea market, the dedicated fund will be tens of millions of dollars. 

The general commitment of the Ripple fund primarily serves to provide financial, technical, and commercial support to developers building on the XRP Ledger. 

Not only that, the XRPL Japan and Korea Fund will provide support to a series of solid initiatives to promote innovation on the XRP Ledger in both countries. 

Among others, Ripple cites corporate partnerships to explore use cases of XRP Ledger in various sectors, investments in startups and also the growth of the community with local events, hackathons, and educational programs. 

Ripple dedicates the new fund for the integration of XRP Ledger in Japan and Korea 

At the moment, both Japan and Korea already host some of the XRP Ledger communities, defined as among the most vibrant and rapidly growing globally. 

In this regard, Emi Yoshikawa, vice president of strategic initiatives at Ripple, said:

“The launch of this fund testifies to Ripple’s strong confidence in the potential of Japan and Korea as fundamental regional hubs for blockchain innovation. It also underscores our ongoing commitment to promoting innovation in the local XRP Ledger communities, and we look forward to seeing the transformative impact of this fund in these vibrant markets”.

Only in this 2024, Ripple has already approached these two markets by supporting projects that use XRP Ledger. 

Specifically, announced in May 2024, Wave 7 of the XRPL Grants program saw projects based in Japan and Korea, VWBL and Moai Finance, secure funding to continue building and scaling on the XRP Ledger.

The Oro and Argento tokens developed on XRPL

Recently, the digital finance company, Meld Gold, announced that it will launch the Gold and Silver tokens developed on XRP Ledger (XRPL). 

In practice, the company would have chosen the XRPL to tokenize gold and silver, as part of the rapidly growing market of Real World Asset (RWA). 

In the third quarter of 2024, the stablecoins anchored to gold and silver, developed on XRPL, will therefore be launched. 

This article was paid for*

One of the hottest crypto presales of 2024 – eTukTuk ($TUK) – is now in its final stages and could end soon. The presale has already raised over $3.4 million, a sign of its strong demand and the growing potential of green cryptocurrencies. 

eTukTuk’s play-to-earn game – inspired by Crazy Taxi – as well as its long-term goal of popularizing eTukTuks in developing nations such as Sri Lanka have caught the attention of smart money traders. 

A few popular YouTube trading experts such as Gain Trading Crypto have tipped eTukTuk as the next 100x cryptocurrency. 

Earn Rewards for Playing eTukTuk’s P2E Games

The eTukTuk project identifies renewable energy to be the need of the hour, with climate change and global warming becoming increasingly dire every year. For instance, UK-based NGO Christian Aid reported that extreme weather – caused by anthropogenic climate change – is costing $41 billion globally. 

eTukTuk has come up with a unique solution to combat this issue and raise awareness about the worsening crisis. 

It has launched play-to-earn games – now available on both Android and iOS devices – inspired by the popular Crazy Taxi game. Players can race their eTukTuks through the vibrant streets of Sri Lanka, win and earn free crypto in the form of additional $TUK tokens. 

Players can continue to unlock new cities, upgrade their vehicles and earn bonus rewards, simply by continuing to participate in the thrilling races. Additionally, investors can stake their $TUK holdings and earn passive income, currently at an APY of over 80%. 

TukTribe, are you ready to customize, race, and earn with your virtual eTuktuks in the most eco-friendly and exhilarating game ever?

Every race you win helps us drive sustainability, innovation, and carry us through the end of the presale and $TUK listing on a major… pic.twitter.com/kM1OVfp75i

— eTukTuk (@eTukTukio) June 4, 2024

However, its play-to-earn games are only a part of the broader eTukTuk solution. 

The project aims to create an EV movement in developing nations such as Sri Lanka by tackling common obstacles. For instance, it is creating charging stations in remote areas, ensuring that the eTukTuks become just as viable as the fossil fuel-based tuk-tuks that are prevalent in these nations. 

Similarly, eTukTuk is looking to launch its own Zero Emission Vehicles (ZEVs), a more cost-effective and sustainable alternative to the common tuk-tuks. 

eTukTuk Price Prediction From Experts

As previously mentioned, smart money traders are backing eTukTuk as one of the most important new crypto IEOs to watch, owing to its play-to-earn utility as well as its strong performance during the presale. 

In a recent video, popular trader Michael Wrubel – who has over 300k subscribers – claimed to be bullish on eTukTuk. 

Similarly, Cilinix Crypto tipped $TUK as an excellent long-term investment. 

eTukTuk could also be one of the cryptocurrencies that benefit significantly from Elon Musk and the upcoming US presidential elections. 

For instance, a recent report highlighted that Elon Musk could land an advisory role in the Trump administration. Despite Musk’s recent conservative leanings, he remains an avid supporter of renewable energy, especially EVs, considering his ownership of Tesla. 

Being one of the top green crypto presales, eTukTuk could witness a significant bounce in such a scenario. $TUK could even be one of the rare crypto tokens that could benefit from a Biden victory, considering the Democrat’s pro-renewable energy stance. 

Interested buyers looking to get into eTukTuk early have no time to lose, considering that its presale is now in its final stages. They can head to the eTukTuk website and use the over-the-counter widget to purchase the token.

Visit eTukTuk Presale

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

PancakeSwap has recently integrated Zyfi to facilitate fee-free DeFi trading. This simplified trading experience could enable PancakeSwap to capture a larger market share from centralized exchanges.

Let’s see all the details below. 

DeFi: PancakeSwap aims to capture greater market share from centralized exchanges with Zyfi

As anticipated, PancakeSwap has improved its user experience by introducing fee-free transactions thanks to the integration with Zyfi on zkSync Era.

With this integration, users of the DEX will be able to benefit from fee-free transactions on certain token pairs, with the fees sponsored by PancakeSwap, zkSync, or other DeFi protocols.

Transactions without fees will make DeFi more accessible to mainstream users, boosting its adoption. Chef Brownie, marketing manager of PancakeSwap, stated the following about it: 

“Gasless transactions remove a significant barrier for new DeFi users and simplify the trading process. By allowing the payment of fees with various ERC-20 tokens, we make transactions smoother and more accessible, enhancing user satisfaction and promoting wider adoption.”

In the past, new DeFi users had to purchase Ether (ETH) to pay transaction fees on the Ethereum network.

Now, the new integration allows PancakeSwap users to pay gas fees using over 10 ERC-20 tokens, eliminating the need to hold the main token.

PancakeSwap is currently the sixth largest DEX, with a daily trading volume of over 311 million dollars, according to data from CoinMarketCap.

Simplify trading to attract mainstream users

The landscape of exchange decentralized (DEX) is in constant struggle to attract mainstream users, diverting them from centralized exchange (CEX) with their intuitive interface and simplified usability.

According to Chef Brownie, the simplified trading experience of PancakeSwap could be the key to attracting more traders to the DEX. The simplification of trading, including the payment of gas fees with various ERC-20 tokens, makes DEXs more attractive. 

PancakeSwap aims to inherit the advantages of DEX, such as the self-custody wallet, while offering a user-friendly interface and seamless transactions.

Despite the progress of DEX, the cumulative trading volume on these markets is still a small fraction of that of CEX. 

However, the user experience remains a top priority for emerging DeFi protocols, with PancakeSwap committed to constantly improving the platform’s usability.

PancakeSwap plans to introduce additional user-focused features, including payments with multiple ERC-20 tokens, to make the trading experience even smoother. 

Furthermore, the zkSync team will offer a unique opportunity to PancakeSwap users, sponsoring gas fees and offering Zyfi token airdrops through the use of the Zyfi paymaster on zkSync Era PancakeSwap.

Market fluctuations: massive sale of PancakeSwap tokens on Binance

Recently, a significant sale of PancakeSwap (CAKE) tokens on Binance by a crypto whale triggered notable market fluctuations. This action led to a 4.6% drop in the price of CAKE, causing widespread agitation in the market.

According to on-chain data reports, approximately 1.623 million CAKE tokens, equivalent to 4.48 million dollars, were transferred to Binance for sale. This movement happened quickly, causing a decrease in the price of CAKE from $2.765 to $2.637. 

The whale had previously accumulated these tokens between November 2023 and May 2024, at an average price of $2.83 per token, indicating a well-thought-out entry and exit strategy.

After the sale, the whale still holds about one million CAKE tokens, whose current value is 2.65 million dollars, deposited on the Venus platform.

Market analysts speculate that these tokens could also be liquidated, further influencing the price of CAKE and market dynamics. 

The precise motivations behind this sale remain a subject of speculation, with theories ranging from profit-taking to possible market manipulation.

This article was paid for*

AI coins are back in the spotlight as three major players in the sector are undergoing a landmark merger. 

The three-way merger between SingularityNET (AGIX), Ocean Protocol (OCEAN) and Fetch.ai (FET) will start today on June 11th and conclude on June 13th. 

As part of this agreement, the native tokens of the three firms will become one – under the umbrella of Fetch.ai – and will be renamed ASI, which stands for Artificial Superintelligence Alliance. 

Experts believe that the merger could spark a broader AI coins rally. New tokens such as WienerAI – an AI-powered meme coin – are also facing substantial demand, having already raised over $5.3 million in its ICO. 

ASI Merger Brings Spotlight To AI Coins

The crypto bull market so far has been dominated by meme coins. However, experts and retailers are not dismissing the upside potential of AI coins. 

For instance, a poll conducted by market intelligence platform Messari identified AI to be the biggest crypto trend of 2024, beating meme coins, RWA and DePIN. 

What will be the biggest crypto trend of 2024?

Cast your vote

— Messari (@MessariCrypto) May 13, 2024

The ASI merger now has the potential to reignite interest in the sector, facilitating capital rotation from meme coins to AI cryptocurrencies. 

According to the project’s website, the Artificial Superintelligence Alliance is set to create the largest open-source, decentralized player in the field of AI research and development. It is a response to the Big Tech’s monopoly over AI development and monetization. 

The existing FET, AGIX and OCEAN tokens will eventually be burned in exchange for ASI. The FET tokens will converted to ASI at a 1:1 ratio. On the other hand, the ASI to OCEAN and ASI to AGIX ratios are set at 1:0.433226 and 1:0.433350, respectively. 

SingularityNET, Fetch.ai and Ocean Protocol have been three of the top-performing AI coins during this bull run. FET, in particular, has rallied by over 800% over the past year, while AGIX and OCEAN are up by over 250% in the same period. 

The newly created ASI token is expected to capture the cumulative demand of the three individual cryptocurrencies. 

AI Coins That Could Explode Next

The new ASI token will unsurprisingly be in high demand, now that three erstwhile major players have joined forces. 

Investors are also eyeing the Worldcoin ($WLD) token as one that could explode next. During yesterday’s WWDC event, Apple announced a major partnership with OpenAI to roll out artificial intelligence systems in Mac and iOS devices. Notably, OpenAI’s CEO Sam Altman is the founder of OpenAI as well. 

WLD is currently seeing selling pressure and is down over 6% in the daily time frame, largely due to the pre-FOMC derisking in the broader cryptocurrency market. However, if the upcoming CPI data and the Fed’s interest rate decision match the market’s expectations, WLD could display a significant bounce back. 

However, smart money traders are also eyeing new AI coins such as WienerAI as viable alternatives.

Is WienerAI The Best Crypto To Buy Now?

The new AI-powered meme coin WienerAI ($WAI) is in high demand, having already raised over $5 million in its ongoing ICO. 

$5M Milestone Achieved!

WienerDogAI is just getting started!! pic.twitter.com/x7G1kFx729

— WienerAI (@WienerDogAI) June 8, 2024

With WAI in its presale, it remains unaffected by the short-term volatility in the broader market. On the other hand, experts believe that it could deliver outsized returns after its launch, especially once the top AI coins start to surge. 

A few smart-money traders are also hinting at the possibility of WienerAI offering 100x returns. 

WAI sits at the confluence of two of the most in-demand sectors, AI coins and meme tokens. Its memable mascot – a part sausage, part dog hybrid – has already caught the attention of meme coin enthusiasts. 

More importantly, the project is set to launch its own cutting-edge AI trading bot, portraying it as a canine companion for traders. The bot is set to offer seamless swaps, MEV protection and AI-enhanced predictive trading, all at zero additional fees. 

Furthermore, WienerAI has also launched its own staking protocol, which is currently offering an APY of over 200%. 

Interested buyers can head to the WienerAI presale and buy the meme coin using the over-the-counter widget. They are also advised to follow the project’s X and Telegram accounts for the latest updates. 

Visit WienerAI Presale

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

Binance recently announced IONET as its 55th launchpool project, with the IO token available for trading and listing starting today. Specifically, IONET revolutionizes AI (artificial intelligence) and cloud computing.

Let’s see all the details below. 

The IO token available for trading and listing on Binance 

As anticipated, Binance, the leading exchange of criptovalute worldwide, has unveiled its 55th Launchpool project: IONET (IO). 

Users can now farm IO, the native token of this decentralized artificial intelligence and cloud computing platform, using BNB and FDUSD.

According to the official announcement from Binance, trading of the IO token will begin on June 11, 2024, at 12:00 (UTC), with trading pairs including BTC, USDT, BNB, FDUSD, and TRY.

The farming on Binance Launchpool will last four days, offering 4% of the total IO token supply. 17 million IO tokens have been allocated for the BNB pool and 3 million for the FDUSD pool, out of a total supply of 500 million tokens.

IONET has also recently formed a partnership with Aptos Labs to create a transparent and immutable ledger of resources and creations generated by artificial intelligence. 

In fact, as already mentioned, IONET aims to transform the artificial intelligence and cloud computing sector through decentralized solutions. The IO token, defined as the “currency of computing power”, allows access to global computing resources. 

Avery Ching, co-founder and CTO of Aptos Labs, stated the following: 

“The decentralized physical infrastructures like IONET are laying the necessary foundations to make artificial intelligence products and services accessible globally.”

Additionally, Binance has also recently celebrated the milestone of 200 million users. Thus doubling its user base in just over two years.

The platform thanked its community for the support and expressed the ambition to reach 1 billion users.

Binance reaches 200 million users despite legal and regulatory challenges

As mentioned, the largest cryptocurrency exchange in the world has surpassed a new milestone, despite the legal and regulatory challenges faced. 

In a post on the social platform X, Binance thanked its community for helping to reach a global base of over 200 million users.

“Today we celebrate 200 million – and it’s all thanks to YOU! Your support is the beating heart of our journey towards a billion users.”

Binance has not only doubled the number of users compared to the population of Germany, but it is also the leading cryptocurrency exchange in terms of liquidity. This according to a report by Kaiko, a digital asset analysis company.

This ranking is based on various factors, including trading volume, market depth, and market quality.

This milestone was achieved despite several lawsuits and fines imposed by regulatory authorities in various jurisdictions. 

Recently, in fact, the Canadian anti-money laundering agency fined Binance nearly 4.4 million dollars for not registering as a foreign money services business. 

In November, however, the co-founder Changpeng Zhao resigned as CEO following accusations by the US SEC of violating federal laws.

Currently, Binance is trying to secure the release of an employee imprisoned in Nigeria, accused of contributing to the fall of the Nigerian naira. 

The new CEO, Richard Teng, stated that the exchange will commit to improving compliance to claim a larger share of the growing cryptocurrency market.

Here we are: after long months of waiting, finally the Ethereum layer-2 solution ZKsync launches the checker for the airdrop of the ZK token, allowing all the farmers to check their eligibility.

This is one of the largest airdrops in history, which could potentially surpass even the success recorded in March 2023 by Arbitrum.

In total, approximately 700,000 addresses were found to be eligible, equal to 17.5% of the total supply of ZK, for a total distributed value that is expected to be over a billion dollars.

And you, are you eligible for this airdrop?

Introducing the ZK Token

Checker → https://t.co/O2UonCvfzi
Announcement → https://t.co/hjgI14PHoi
Docs → https://t.co/taWBoCnfbc

It’s time to put the ZK token into the hands of the community. It’s your turn to govern ZKsync’s future. pic.twitter.com/VD3fZgH5bf

— ZK Nation (@TheZKNation) June 11, 2024

ZKsync unveils the details for the airdrop of the ZK token: live checker and claim set for June 17

In March of last year, ZKsync officially launched the alpha mainnet, inaugurating a rollup chain that would establish itself as one of the best in circulation.

Today, after 1 year and 3 months, the details of the airdrop of the crypto ZK are finally revealed, along with the checker, with the cryptographic coin that will play the role of governance token of the ZK Nation ecosystem.

We at The Cryptonomist team had already talked well in advance about how to qualify for the zkSync distribution, highlighting every step to follow.

If you have followed the guide, you can now celebrate a rich reward!

This is the link to check your eligibility: https://claim.zknation.io/

In total, the rewarded wallet amount to 695,232, with an allocation of 3.68 million  ZK tokens equal to 17.5% of the supply. 

The snapshot was taken on March 24, 2024, at 00:00 UTC, during the one-year anniversary of the mainnet launch. The claim will officially open on June 17, 2024, at 07:00 UTC (9:00 am Italian time).

The criteria of eligibility have been listed in the official ZKsync post where it emerged that to be included in the list of lucky users it is essential to have used the ZKsync Era network or the ZKsync Lite test network.

To each address has been allocated a quantity of ZK tokens that varies based on a “base score” and some “multipliers”.

First of all, to be eligible the minimum requirement is to have registered at least 1 point in the basic criteria listed in the following image, which take into account the on-chain activity performed and its duration.

Source: https://blog.zknation.io/zk-token/

The multipliers are based, instead, on activities that mark a particularly high contribution to the ZKsync ecosystem. These are:

Hold native ZKsync NFTs;

Hold native ZKsync ERC20 tokens;

Having tried the account abstraction of ZKsync having used a smart contract wallet;

Other airdrops have been received from the same address;

It has operated on popular smart contracts within the Ethereum Mainnet.

The addresses had to meet a minimum requirement of 450 ZK to be eligible for the airdrop, otherwise they would be completely excluded.

The max allocation per wallet seems to amount to 100K ZK, even though some users have reported screenshots showing allocations of 160k ZK.

Very interesting the post by the user “eekeyguy” that highlights the distribution of the tokens, differentiating the classes of eligible addresses.

All details about the $ZK token distribution

Eligible addresses: 690,715

0-1k: 90937 users
1k-5k: 477996 users
5k-10k: 63582 users
10k-20k: 26871 users
20k-50k: 18517 users
50k-100k: 12657 users
> 100k: 155 users

The highest token amount in the dataset is… pic.twitter.com/V7qw9o9MS1

— eekeyguy.eth (@eekeyguy_eth) June 11, 2024

Given the quantity of tokens allocated to early users and various protocols within the ecosystem, the ZKsync airdrop could surpass the milestones achieved by Arbitrum when it launched its own ARB coin in March 2023, and establish itself as the largest token launch in the history of cryptocurrencies.

We can only congratulate the ZKsync team. Chapeau.

Price prediction of the crypto ZK at listing on the markets

At this moment the price of the crypto ZK amounts to 0.34 dollars according to the pre-market estimates of the Whales.Market platform, down by 62.8% compared to yesterday’s quotations.

The drop in valuation is mainly due to the fact that no one expected such a large portion of tokens for the airdrop to users, with 17.5% of the supply intended to reward the early adopters of the ZK Nation ecosystem.

The total supply is fixed at 21 billion ZK, confirming the indiscrezioni published a few days ago by the online newspaper The Block.

At these prices, the FDV of the ZKsync coin amounts to 7.14 billion dollars.

Given and considering that the competitor Starknet has launched its own token STRK with an FDV of 20 billion dollars, we might expect a positive price action of ZK a few weeks after the listing.

Source: https://pro.whales.market/pre/zkSync/ZK

The evolution of prices at the time of listing remains critical, and will likely see an initial drop due to the high allocation to the community.

Usually, in fact, when a large quantity of coins is airdropped, most of them are liquidated on the market instantly once the resource becomes tradable.

In any case, the project has all the cards on the table to bring its ZK token to an overall valuation higher than the current estimated 7.14 billion dollars.

It is therefore not excluded that ZK could reach a price of 1 dollar per token.

$ZK is currently trading at a pre-market price of $0.34

That gives it a Fully Diluted Valuation of approx $7.1B

The current FDV of competitor Layer 2s:
‣ Starknet's $10.8B
‣ $ARB's $9.3B
‣ $OP's $8.7B
‣ Polygon's $6.4B

What's your zkSync price prediction on launch? pic.twitter.com/hm98ycCgIm

— Airdrop Official (@its_airdrop) June 11, 2024

Several users are complaining because results are blocked as sybil and not eligible for the zkSync airdrop

Many users were dissatisfied with the announcement of the checker for the airdrop of the zkSync (ZK) token, having been identified as sybil and therefore not eligible.

In fact, the airdrop has cut the legs of more than 6 million addresses, with several entities that did not meet the minimum eligibility requirements and others that, despite having carried out adequate on-chain activities, were included in the list of sybil users.

Despite this, it does not seem that particularly sophisticated anti-sybil systems have been put in place, such as those launched for example by LayerZero with the bounty campaign.

As this user reports on X, a cluster of wallets that deposited identical amounts of ETH within zkSync Era on the same day was not flagged and received 15,000 tokens per wallet, collecting a total of 2,000,000 ZK.

Shocking data from ZKSync Eligibility List

Sybil accounts are bagging 2,000,000+ ZK tokens by depositing identical ETH amounts on the same day, each receiving 15,000 tokens per wallet

What's more, nearly all of them are flagged on the @LayerZero_Labs sybil list

Link below pic.twitter.com/hd9uipFzuj

— Artemis the Sybil Hunter (@artemis_rsch) June 11, 2024

In the financial markets, the terms “bull” and “bear” are often used to describe market trends. A “bull” market is characterized by rising prices, while a “bear” market is marked by falling prices. Investors need to understand these concepts to make informed decisions.

In particular, the largest protest is represented by all those individuals who did not reach the minimum allocation of 450 ZK and were therefore excluded from the airdrop.

Many farmers have submitted an informal proposal to the project team, to include all non-rewarded addresses for this reason, ensuring a minimum allocation.

zkSync could listen to the community, as done for example a few months ago by EigenLayer which increased the minimum allocation to all addresses by 100 EIGEN.

In any case, it is not certain that this will happen, as the distribution of zkSync seems to be effectively fair, and it has rewarded honest users who did not take advantage of farming tools and who created real on-chain metrics.

Calling out team @zksync

Here is how to fix this
Total supply – 21B
Total Airdrop – 3.65B
Airdrop to users – 3.25B

Current eligibile wallets – 696k

Changes suggested
Include all the wallets which meet at least one criteria
Approximately – 1.3M users… pic.twitter.com/5hjFP7ivUR

— CryptoTelugu (@CryptoTeluguO) June 11, 2024

In the world of finance, the terms “bull” and “bear” are often used to describe market trends. A “bull” market is characterized by rising prices, while a “bear” market is marked by falling prices. Investors need to understand these concepts to make informed decisions.

Punctually at every airdrop, which is not eligible, they shout scam, cry, and complain publicly to the representatives of the project.

We will see if the zkSync team will take action or leave the allocation unchanged.