Bitcoin ETFs Have $200M Outflow

YEREVAN (CoinChapter.com) — U.S.-listed spot bitcoin exchange-traded funds (ETFs) experienced significant outflows for the second consecutive day. Traders appear to be de-risking ahead of key macroeconomic reports.

Data from SoSoValue shows that eleven ETFs saw $200 million in net outflows on Tuesday, the highest since May 1, which had $580 million in outflows. This development occurred amidst a BTC sell-off, with the asset briefly dropping to $66,200 before recovering.

Bitcoin ETFs Daily Net Outflows. Source: SoSoValue Grayscale’s GBTC Leads the Outflows

Grayscale’s GBTC was the major contributor, accounting for $120 million of the total outflows. GBTC has been the worst-performing ETF by outflows since its launch in January, accumulating $18 billion in outflows.

Bitcoin ETF Flow Table (US$m). Source: Farside Investors

Ark Invest’s ARKB, Bitwise’s BITB, Fidelity’s FBTC, and VanEck’s HODL also saw notable outflows. ARKB recorded $56 million, while BITB, FBTC, and HODL had outflows ranging from $7 million to $15 million. None of these ETFs saw any inflows during this period.

Traders De-Risk Before CPI and FOMC Meetings

The outflows are likely due to traders’ de-risking actions ahead of the U.S. Consumer Price Index (CPI) reading and the Federal Open Market Committee (FOMC) meeting. These events are scheduled for later today and have created a sense of caution in the market. Singapore-based QCP Capital noted,

“Markets are in risk-off mode ahead of CPI and FOMC tomorrow. This month’s FOMC will also release the Dot Plot, which informs the market how many cuts the Fed anticipates for the rest of 2024.”

QCP Capital commented further,

“Despite short-term headwinds, we think this might be a good opportunity to accumulate coin. Bullish events on the horizon include the eventual ETH spot ETF going live along with Biden and Trump in a verbal arms race to win the crypto vote.”

The Federal Reserve is expected to maintain the current interest rate of 5.50%, with a 99.4% probability of no change. However, a Reuters poll of economists indicates that the Fed may cut rates twice this year, possibly beginning in September.

Yellen’s Speech on Friday May Impact Cryptocurrencies

Adding to the market’s cautious sentiment is Treasury Secretary Janet Yellen’s scheduled speech on Friday. Her comments are expected to impact riskier assets, including cryptocurrencies. Past speeches by Yellen have shown that her statements can lead to significant market reactions.

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Elon Musk Withdraws Lawsuit Against OpenAI

YEREVAN (CoinChapter.com) — Elon Musk has withdrawn his lawsuit against OpenAI and its CEO, Sam Altman. According to court filings in the San Francisco Superior Court on June 11, Musk’s attorneys requested to drop the breach of contract lawsuit without prejudice. This allows Musk to file the lawsuit again in the future if he chooses.

Elon Musk’s lawsuit withdrawal came one day before a federal judge was set to decide whether to dismiss the case or allow it to proceed to the next stage. Musk did not provide a statement about his decision to drop the lawsuit, but the withdrawal leaves some wondering if Elon Musk was bluffing.

Details of Musk’s filing to dismiss the lawsuit without prejudice against OpenAI and Altman. Source: Superior Court of California Musk Sues OpenAI Over Mission Deviation – Withdraws Lawsuit

Musk filed the lawsuit on February 29, 2024. He claimed OpenAI deviated from its original mission to develop AI for the benefit of humanity, not for profit. His complaints focused on OpenAI’s collaborations with Microsoft and the closed-source launch of ChatGPT-4. Elon Musk has since withdrawn the lawsuit.

Screenshot of the lawsuit against OpenAI and Sam Altman. Source: Courthouse News Service

Musk urged OpenAI to return to its open-source principles. He also requested an injunction to prevent the for-profit exploitation of artificial general intelligence (AGI) technology. Musk filed additional complaints about fiduciary duty violations and unfair business practices against OpenAI.

Musk Criticizes OpenAI-Apple Partnership

The latest issue between Musk and OpenAI involves a partnership with Apple. This collaboration will integrate ChatGPT into iPhone, iPad, and Mac operating systems. Musk claims this decision is an “unacceptable security violation” for Apple users, arguing that it entrusts privacy and security to a third party like OpenAI.

Apple, however, maintains that user IP addresses will remain obscured and that OpenAI will not store data requests. Apple emphasized its “privacy promise,” stating,

“It’s aware of your personal data without collecting your personal data.”

Musk’s Competing AI Venture, xAI

In response to OpenAI’s actions, Musk launched the AI chatbot Grok last November. Grok aims to compete with ChatGPT.

Elon Musk Announces Grok Release – Source: @elonmusk

Musk’s AI firm, xAI, secured $6 billion in funding from investors such as Valor Equity Partners, Andreessen Horowitz, Sequoia Capital, and Fidelity Management & Research Company in late May.

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Joe Biden memecoins Read CoinChapter.com on Google News

LUCKNOW (CoinChapter.com) — Hunter Biden, the son of President Joe Biden, has been found guilty of lying about his drug use when purchasing a gun. After deliberating for three hours, the jury convicted him on three charges related to the gun purchase. He now faces a maximum sentence of 25 years in prison, though sentencing typically occurs within 120 days.

The verdict elicited little visible emotion from Hunter Biden, who stared ahead stoically with folded arms before hugging members of his legal team. President Joe Biden released a statement saying he would “accept the outcome of the case” while reaffirming his support for his son, stating, “Nothing will ever change that.”

However, the president confirmed he would not pardon Hunter for the guilty convictions despite having the power to do so. The high-profile case has become a political lightning rod, with Republicans criticizing Hunter’s business dealings and the former Trump campaign dismissing the verdict as a “distraction.”

You Might Also Like: Joe Biden’s Veto on Crypto Custody Bill May Cost Him 2024 Election

From BODEN to HUNTBODEN — Memecoins Spill Red and Green

After the courtroom drama, several Joe Biden-themed memecoins experienced volatility and price swings. Here’s how some of the major tokens performed:

Jeo Boden (BODEN)

BODEN/USD Daily Price Chart. Source: CoinMatketCap

The Jeo Boden memecoin is currently trading as BODEN. Its price surged 17.99% over the past 24 hours to $0.1916. However, it has declined 46.57% over the past week. With a circulating supply of 690 million BODEN, the token’s market cap sits at $132 million.

Joe Biden (BIDEN) 

BIDEN/USD Daily Price Chart. Source: CoinMatketCap

This Joe Biden inspired memecoin token saw a 3.26% price decline to $0.008283 in the 24 hours following the verdict. This memecoin is centered around the 2024 presidential election. The total Joe Biden token traded in the past 24 hours is worth around $1.9 million and has a total market cap of $7.83 million.

JOE (BIDEN)

BIDEN/USD Daily Price Chart. Source: CoinMatketCap

The JOE token, distinctly named BIDEN, went up 17.2% to $0.018 with 24-hour trading volumes of $305,833. This memecoin is up 0.36% when compared to the past 7 days. Currently, JOE market cap sits at $567,910.

Joe Biden 2024 (BIDEN)

BIDEN/USD Daily Price Chart. Source: CoinMatketCap

Launched in May on the Solana blockchain, the Joe Biden 2024 memecoin experienced a 5.9% price drop to $0.001778. Despite the recent decline, the token’s market cap surged from $70,000 to $1.7 million within five days of its debut.

Jill Boden (JILLBODEN)

JILLBODEN/USD Daily Price Chart. Source: CoinGecko

The Jill Boden memecoin saw a 7.01% price decline over the past day to $0.00009776, with its price down 29.96% over the last week. Its 24-hour trading volume was $2,067.33.

Hunter Boden (HUNTBODEN)

HUNTBODEN/USD Daily Price Chart. Source: CoinGecko

Representing the president’s son at the center of the controversy, the Hunter Boden memecoin plunged 51.75% to $0.0004728 in the last 24 hours. Its weekly losses totaled a staggering 78.91% amid a heightened 24-hour trading volume of $1,324,684.74.

The post How are Joe Biden Memecoins Performing After Hunter Biden’s Guilty Verdict? appeared first on CoinChapter.

Cardano Ushers in ‘Voltaire’ Era with Governance Upgrades Read CoinChapter.com on Google News

NAIROBI (CoinChapter.com) — Cardano Founder Charles Hoskinson Cardano has announced that its Cardano Node 9.0 update will occur in June, thus marking the beginning of the Chang hard fork and the Voltaire Age. Notably, the Voltaire phase will focus on enhancing Cardano’s governance and decentralization by introducing new voting and treasury controls with a new standard called CIP-1694.

Is Cardano Entering a New Era of Governance?

The Voltaire Age marks a big change for ADA, moving towards more decentralization. CIP-1694 will introduce voting, allowing the community to suggest and fund new projects directly. Charles Hoskinson described this as a key step, seeing ADA as a decentralized global community. The second phase of the Voltaire Age will expand these features, allowing for proxy voting and treasury withdrawals. These features will give Cardano holders more control over funds and decisions.

A snippet of Hoskinson’s post on X

Recent updates include the release of node version 8.9.2, which fixed a peer-sharing issue. Hoskinson is also excited about the upcoming Ouroboros Leios upgrade, aimed at improving transaction speed and scalability. These changes are important for keeping ADA competitive in the blockchain space.

Community Embraces Chang Fork Upgrade

Despite these changes, ADA’s price has shown little movement. Currently trading at $0.4497, Cardano’s value has dropped nearly 30% this year. Data from IntoTheBlock shows that only 32.39% of Cardano holders are making a profit. Still, the average ADA holder keeps their investment for about a year, showing a strong belief in Cardano’s long-term potential.

ADA/USD 1-month price performance. Source: CoinMarketCap

The community has welcomed the news of the Chang Fork. ADA investor Av Sebastian shared his excitement, noting that after the Chang hard fork, Cardano will become the most decentralized asset in the world. All ADA holders will be able to decide how the treasury of 1.5 billion ADA is spent.

Charles Hoskinson remains hopeful about Cardano’s future, stressing the importance of these upgrades for the platform and the industry. These governance changes aim to make ADA a leading blockchain network, building a decentralized global community.

The post Cardano Ushers in ‘Voltaire’ Era with Governance Upgrades appeared first on CoinChapter.

George Town, Cayman Islands, June 12th, 2024, Chainwire

The VGX Foundation has announced a partnership with popular web3 game Honeyland, offering rewards utilizing the VGX token for their players.

VGX is a token that bridges multiple chains and is focused on bridging utility across GameFi and gaming ecosystems.

Honeyland is a popular blockchain-based casual strategy game available on iOS and Android, and one of the top games on Solana. With the new partnership, holders of Genesis Eggs, Bees, or Queens based on a snapshot of holders taken at 17:00 UTC on June 6, 2024, will receive VGX rewards. Thanks to the previously announced partnership with Gala Games, players receiving VGX will be able to take their VGX to Gala Games, where they can purchase a Voyager: Ascension season pass unlocking the ability to earn GVGX rewards.

In addition to the VGX reward for Genesis holders, from June 12 to June 19, there will be a free VGX cosmetic trait available to all Honeyland players in the Honeyland Cosmetic Shop: a VGX-themed “Mad Hatter” style hat. The cosmetic trait can be fused to any Bee, and by doing so will boost the Capacity trait for the Bee.

“We’re always looking for new ways to reward Honeyland players,” said Corey Wright, CEO at Honeyland. “Thanks to this partnership with the VGX Foundation, we’re able to offer exciting new rewards to our players whether they’ve been with us since the beginning, or are joining today.”

The VGX Foundation’s mission is to increase the number of projects integrating and using the VGX token, growing the number of users able to access and use the token across web3 gaming. For more information, visit www.vgxfoundation.com.

For media inquiries, please contact Melrose PR at (310) 260-7901 or Info(at)Melrosepr(dot)com

About VGX Foundation

The VGX Foundation leads the evolution of decentralized gaming economies through its dynamic blockchain-based gaming token, VGX. Serving as an in-game currency and reward mechanism, VGX empowers diverse gaming communities. The VGX Foundation actively fosters growth by facilitating grants and partnerships for game developers and platforms, enabling the expansion of the token’s use case and nurturing a thriving VGX ecosystem.

Contact

Account DirectorJonthan DuranMelrose PRjonathan@melrosepr.com

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Lisbon, Portugal, June 12th, 2024, Chainwire

Azuro, the leading liquidity layer for onchain predictions, is using Olas, the principal network for autonomous AI agents, to leverage their AI stack for the development of an autonomous agent capable of operating across the Azuro ecosystem.

Azuro is the frontrunner infrastructure layer for sport and entertainment prediction markets within EVM chains. Over 25 apps are operational on the protocol, with many others already in the works. Its innovative liquidity pool design, sophisticated tooling and oracle solutions allow apps to deploy without upfront investment or running costs, saving them valuable development resources that can be directed to user acquisition, engagement and monetization instead.

Transaction volumes on Azuro have been expanding consistently and rapidly over the past year, standing at $350+ million as of this writing, along with a protocol revenue in excess of $3M+, thus becoming the number 1 revenue-generating protocol on Polygon recently.

Olas, known for its composable stack that supports the development of autonomous services, provides a framework for building advanced autonomous agent technology. These AI agents, while running off-chain, are represented on-chain by smart contracts.

This union offers Olas AI technology the opportunity to access the fastest-growing prediction markets ecosystem. The Azuro AI agent will be capable of learning how to accurately predict outcomes of sports events. To maximize its learning, the agent will be retrofitted with data from Azuro markets. This AI agent, once operational, will be able to autonomously analyze, and operate in prediction markets on Azuro, enriching the ecosystem with data-driven insights and predictive capabilities for all participants.

“We are setting the basis for the development of AI agents that can effectively integrate and operate within the Azuro ecosystem. Long term, this integration could unleash a new era in market analysis and empower new applications for prediction markets beyond sports, such as political forecasting, and other entertainment events,” stated Rossen, core contributor at Azuro.

This is an exciting advancement for developers and users of Azuro prediction markets alike. Aside from the creation of the AI agent, Azuro will host a hackathon to provide tools and frameworks for the development of new autonomous agents and the expansion of use cases in prediction markets.

About Azuro

Azuro is the onchain predictions layer. It consists of modular tooling, oracle and liquidity solutions for EVM chains to host powerful prediction and gaming apps. With its unique infrastructure layer approach Azuro makes on-chain predictions and gaming portable and composable. It allows anyone to engage and monetize users by building apps, integrations, and products quickly, permissionlessly and with zero upfront or running costs.

For more information or press inquiries:

Website: https://azuro.org/

Docs: https://gem.azuro.org

Github: https://github.com/Azuro-protocol

Onchain activity: https://dune.com/azuro/stats 

About Olas

Olas enables everyone to own a share of AI, specifically autonomous agent economies. Olas is a unified network of off-chain services – like automation, oracles, and co-owned AI. It offers a composable stack for building these services, and a protocol for incentivizing their creation. Olas enables operating these services in a co-owned and decentralized way.

For more information or press inquiries, users can visit:

Website: https://olas.network/

Docs: https://docs.autonolas.network/

Contact

Azuro teamteam@azuro.org

The post Azuro Steps Into AI Using Olas to Predict Sports Event Results appeared first on CoinChapter.

GDMining, a leading cloud mining platform founded in 2021, is committed to providing efficient and profitable cloud mining services. Located in St Asaph, UK, GDMining has built a reputation for reliability and user-friendliness, attracting a global user base.

GDMining offers a streamlined process for individuals interested in cryptocurrency mining. The platform’s three-step approach ensures that users can begin mining quickly and with minimal effort. The first step involves signing up with a valid email address, with new users receiving a $50 bonus upon successful registration. Next, users choose from a variety of cloud mining contracts designed to offer stable and risk-free returns. Finally, users start earning immediately, with daily profits deposited directly into their accounts and no withdrawal fees.

GDMining’s range of contracts caters to different investment levels. The platform offers contracts like the Free Bitcoin Mining trial with a $50 investment, yielding $1.00 in daily rewards, and more extensive options such as the BTC Advanced Mining Contract #3289, requiring a $30,000 investment and providing $750.00 in daily rewards. All contracts guarantee the return of the initial investment upon contract expiration, ensuring no risk of losing funds.

GDMining prioritizes stable profits and fast, regular payouts. The system processes all withdrawal requests within five minutes, ensuring users have quick access to their earnings. The platform’s inclusivity is evident in its user-friendly design, making it accessible for both beginners and experienced miners. GDMining’s experienced investment team and IT experts employ market-leading technology to provide reliable and profitable cloud mining solutions.

GDMining’s robust infrastructure includes six state-of-the-art mining facilities located in Russia, Iceland, Kazakhstan, and other strategic locations. This global presence supports users from over 200 countries, providing a reliable and efficient mining experience. With over 500,000 active members and significant volumes of deposits and withdrawals, GDMining has established itself as a trusted name in the cloud mining industry.

How to Get Started with GDMining：

①Sign Up: Visit the GDMining website and sign up using a valid email address. New users receive a $50 bonus immediately upon successful registration.

②Choose a Contract: Browse the available cloud mining contracts and select the one that suits your investment level and goals. Contracts vary in price, duration, and daily rewards, providing options for all types of investors.

③Start Earning: Once a contract is purchased, daily profits are automatically deposited into the user’s account. Withdrawals are processed promptly with no fees, and users can choose their preferred cryptocurrency for withdrawals.

Trending Contracts：

GDMining offers a variety of contracts to meet different investment needs. Some of the popular options include.

In conclusion：

GDMining provides an accessible pathway to generating substantial income from home through cloud mining. With dedication, strategy, and ongoing learning, you too can unlock the full earning potential offered by this innovative platform. Join GDMining now and witness your income rapidly grow in 2024!

For more information, please visit the official website:https://gdmining.com/

Disclaimer: The statements, views and opinions expressed in this press release are solely those of the content provider and do not necessarily represent those of CoinChapter. CoinChapter will not be responsible in any way for the content of the same. Do your research and invest at your own risk.

The post GDMining Expands User Accessibility with New Cloud Mining Contracts and Fast Payouts appeared first on CoinChapter.

Binance is one of the top crypto exchanges that has gained global traction. Despite the challenges the exchange has faced with SEC, its native token, BNB, has witnessed massive rallies, hitting an all-time high of $718. This has triggered massive adoption of the token. Aside from Binance, one of the top crypto coins on an upsurge is Monero, which has seen investors’ interest grow.  Meanwhile, Angry Pepe Fork (APORK) is another top crypto coin that is making waves in the market. With its Conquer to Earn feature, analysts tip it to return 50x in the coming months.

Angry Pepe Fork Gears Up for a Major Bullish Surge

Angry Pepe Fork is a revolutionary meme coin that wants to conquer the crypto market. The project aims to dominate other meme coins and establish itself as one of the best cryptos in the world. For investors who missed the Pepe rally, APORK is not a project to miss. It is the hottest Solana based meme coin set to outshine top meme coins in 2024. 

Angry Pepe Fork is not just a meme coin; it is an opportunity for the APORK army to earn through the conquer-to-earn model. The staking dApp will be live at presale to give users an opportunity to earn. As the APORK army conquers more zombie meme coins, the APY increases. Also, individuals who showcase their bravery on the battlefield are rewarded with APORK tokens. 

Meanwhile, the $APORK token is in stage 1 of the presale and sold for $0.014. Those who purchase now will get a 10% bonus on all purchases. While other meme coins do not have a fixed supply, APORK is different. The meme coin has a fixed supply of 1.9B, which will help to keep the value in check. Some analysts pick it as one of the top crypto coins to buy and forecast 250% in the presale. 

Meanwhile, the ecosystem is already in talks with partners to add more utilities. With its community-driven approach and upcoming partnership, APORK is set to take the market by storm. As such, analysts see APORK as the next 100x Solana-based meme coin and believe it will topple the likes of Dogwifhat and Bonk in 2024. We recommend you check it out. 

Binance Price Prediction – Is $1000 Feasible in 2024?

Even with the ongoing challenges faced by the Binance exchange, its native token, BNB, has maintained resilience. In the past few days, the BNB price has surged, smashing its previous 2021 record to set a new ATH record of $720 on June 6. Although the return of the bears has depleted the token, analysts are optimistic of a rally soon. 

According to CoinMarketCap data, the BNB price has surged by 165% in the past year and 8% in the past month. Meanwhile, the BNB trading volume has increased, with over $4.2B in daily trading activity, signalling the dominance of the bulls. With the bullish BNB market sentiment, notable analysts are projecting a rebound soon. As such, major BNB price predictions tip it to $1000 in 2024. 

Monero Price Outlook: XMR Poised To Reach $200

Monero (XMR) is among the best coins to invest in now with a bullish market sentiment. As per CoinMarketCap stats, Monero price has grown by 33% in the past month and 13% in the past week. Over 16 key market indicators are green with both the Monero trading volume and market cap in the uptrend. 

Zooming in, the technical analysis suggests an upcoming rally, with the token trading above the 50-day and 200-day SMAs. Also, the Monero Fear and Greed index shows extreme Greed (78), which shows it is in the accumulation zone. Monero has had 21 green days in the past month, which makes it one of the best crypto coins to buy now. With more rallies, the XMR price could hit $200 in June. 

Visit Angry Pepe Fork Presale

The post BNB Reaches New ATH While Monero Sees An Upsurge, Is Angry Pepe Fork Up Next? appeared first on CoinChapter.

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 ManagerThomas BellinghamDoggy AIMarketing@web-3-media.com

The post Doggy AI Presale Reaches Over $101,000 Shortly After Launch appeared first on CoinChapter.

BlockDAG is distinguishing itself in the cryptocurrency arena with its successful presale and innovative strategies. While Sei Coin may surge by 20% and Bitcoin Cash is experiencing a significant upswing, BlockDAG captures attention with robust influencer backing and a detailed strategic plan.

The presale has successfully amassed over $48.5 million, drawing substantial investor interest. Influential figures like Danjo Capital Master back BlockDAG, boosting its appeal and encouraging more participation. With an expedited mainnet launch and the rollout of the X1 Miner app on the horizon, BlockDAG is poised for impressive growth.

Sei Coin Poised for a 20% Increase: Here’s the Rationale

Despite the general downturn in the crypto market, Sei (SEI) remains robust, promising a bright investment outlook. While Bitcoin dips, Sei retains its value, solidifying its market position. Poised at a critical 70.5% Fibonacci level of $0.6375, Sei is on track for a potential climb to $0.8797 and possibly $1.00.

Positive signals from the Relative Strength Index (RSI) and Awesome Oscillator (AO) support a bullish forecast. Growing investor interest, driven by these optimistic indicators and solid technical support, positions Sei for notable gains, making it an appealing investment choice.

Bitcoin Cash Enjoys Surge Amid Positive Market Sentiment

Bitcoin Cash (BCH) has recently surged impressively, capturing the interest of the crypto community and sparking broad discussion. Over the last 24 hours, BCH’s value soared by 71%, climbing from $284 to a peak of $484. This rise contributes to a 22% increase over six months, with a yearly growth of 46%, culminating in a market cap of $361.4 million. Market excitement is fueled partly by speculation that major financial centers might adopt BCH for transactions, enhancing its trading volume.

A significant $150 million BCH transfer between major wallets suggests active market participation and potential future price increases. With 93% of its maximum supply of 21 million BCH already in circulation, its rarity could further augment its value. The vibrant Bitcoin Cash community also plays a key role in managing market fluctuations.

BlockDAG’s Keynote 2 Highlights: Influencer Endorsements and Strategy Unveiled

BlockDAG’s recent keynote emphasized the importance of its strategic planning and strong backing from influencers, which are critical to its success. The presale has successfully garnered over $48.5 million, capturing substantial interest. Prominent supporters like Danjo Capital Master advocate for BlockDAG, highlighting its innovation and the deep trust it commands within the investment community.

These endorsements have significantly boosted BlockDAG’s profile and trust, leading to increased investor activity. The presentation also detailed BlockDAG’s strategic plans, which include speeding up the launch of its mainnet, introducing the BlockDAG Explorer, and rolling out the X1 Miner application. These initiatives aim to improve the user experience and functionality of the platform, thereby appealing to a wider audience.

After its notable moon keynote, there was a spike in activity on BlockDAG’s website, with BDAG prices jumping by 1120%. The platform has managed to sell more than 11.3 billion coins, raising over $48.5 million. The release of the X1 beta app for Android and iOS devices has also drawn a large number of users. This app facilitates simple and effective crypto mining on smartphones without consuming excessive data or battery.

Industry experts foresee BDAG reaching $1 by 2024, a substantial increase from its current presale price of $0.0122. This predicted growth makes BlockDAG an attractive investment option for those eager to leverage the latest crypto market developments.

The Last Call

BlockDAG’s remarkable presale achievements and strategic efforts establish it as the foremost investment opportunity. While Sei and Bitcoin Cash also present attractive prospects, BlockDAG’s blend of market support, technological innovation, and strategic planning secures its position as the leading choice for investors.

Poised to potentially reach $1 in 2024, BlockDAG is set to dominate the crypto market, offering substantial returns to early investors. This altcoin’s innovative approach and growth prospects make it an enticing investment for the future.

Join BlockDAG Presale Now:Website: https://blockdag.networkPresale: https://purchase.blockdag.networkTelegram: https://t.me/blockDAGnetworkOfficialDiscord: https://discord.gg/Q7BxghMVyu

The post Analysts Predict BlockDAG Reaching $1 In 2024, Presale Nears $50M Amid SEI And Bitcoin Cash Progress appeared first on CoinChapter.

Key Takeaways:

Bitcoin started another decline from the $72,000 resistance.

BTC/USD traded below a key bullish trend line with support at $69,000 on the daily chart.

The price could decline heavily if it fails to stay above the 50-day simple moving average (blue) and $66,000.

Bitcoin price Read CoinChapter.com on Google News

NEW DELHI (CoinChapter.com) — Bitcoin price is testing crucial support at $66,000. BTC could recover and retest $72,000 unless the bulls fail to protect the $66,000 support zone.

Bitcoin Price Takes Hit

After a steady increase above the $70,000 level, Bitcoin’s price failed again to clear the $72,000 resistance zone. This caused a sharp bearish reaction. If the bears remain in action, a double top could be in the making.

There was a drop below the $70,000 and $69,000 levels. On the daily chart, BTC traded below a key bullish trend line with support at $69,000. The price settled below the 23.6% Fib retracement level of the key increase from the $56,710 swing low to the $71,920 high.

Bitcoin price daily chart | Source: BTC/USD on TradingView.com

Bitcoin price tested the key support at $66,000 and the 50-day simple moving average (blue). The bulls are putting up a strong fight near the $66,000 zone.

If the double top pattern plays out, there could be a sharp decline. A daily close below $66,000 and the 50-day simple moving average (blue) might send the price toward the $64,400 support or the 50% Fib retracement level of the key increase from the $56,710 swing low to the $71,920 high.

If the bulls fail to protect the $64,400 support, the price could decline further. In this case, it might decline toward the $60,300 support.

Another Increase In BTC?

Conversely, Bitcoin could stay above $66,000 and start a fresh increase. Immediate resistance on the upside sits at the $68,400 zone. The first major resistance is now forming near the $70,000 zone. If BTC price breaks the $70,000 resistance, it could spark a strong increase.

The next key resistance is $72,000, above which the price could gain bullish momentum. In this case, the bulls could even aim for a move toward the $75,000 region.

Today, the Fed will announce interest rates. The market is positioned for no rate cuts. However, Elizabeth Warren recently sent a letter to Jerome Powell asking for rate cuts, signaling politicians’ desperation to reduce rates.

BREAKING ELIZABETH WARREN HAS SENT A LETTER TO JEROME POWELL ASKING FOR RATE CUTS POLITICIANS ARE NOW TRYING TO INFLUENCE FED TO DO RATE CUTSTHIS IS BULLISH FOR RISK-ON ASSETS LIKE BITCOIN AND CRYPTO pic.twitter.com/AaQQkvhsW7

— Ash Crypto (@Ashcryptoreal) June 11, 2024

Overall, Bitcoin is consolidating gains above the key support at $66,000 and the 50-day SMA. BTC must stay above $66,000 to bounce back and avoid a major decline in the coming days.

The post Bitcoin Price Support Test: Will It Trigger a Fresh Rally Despite Resistance? appeared first on CoinChapter.

cryptocurrency news of the day Read CoinChapter.com on Google News

Here is the top crypto news of the day curated by CoinChapter.com.

Elon Musk Drops OpenAI Lawsuit Against CEO Sam Altman 

Elon Musk has withdrawn his lawsuit against artificial intelligence company OpenAI and its CEO Sam Altman. The lawsuit, filed in February 2024, accused OpenAI of straying from its original mission of developing AI for the benefit of humanity rather than profit. However, Musk’s legal team requested to dismiss the breach of contract case without prejudice on June 1st. This action left the door open for potential future legal action.

Details of Musk’s filing to dismiss the lawsuit Source: Superior Court of California

The dismissal came just one day before a judge was about to decide on whether to allow the case to proceed or dismiss it entirely. Musk did not provide an official statement regarding this. The lawsuit had alleged that OpenAI’s collaborations with Microsoft to build AI technology and the closed-source launch of ChatGPT-4 violated the company’s principles.

Crypto News: Hunter Biden Guilty Verdict Led to Brief Memecoin Rally

Several memecoins themed around U.S. President Joe Biden and his family experienced a brief surge following Hunter Biden’s guilty verdict on gun charges. The Jeo Boden (BODEN) token jumped 26% in the hours after the conviction on June 11th.

BODEN/USD Daily Price Chart. Source: CoinMatketCap e

Simultaneously, the Hunter Boden (HUNTBODEN) token saw an even more substantial 116% spike. On the other hand, the Jill Boden (JILLBODEN) token dipped 9%. However, the rally was short-lived, with all three tokens experiencing declines within 24 hours.

Hunter Biden, the president’s son, was found guilty of lying on a form to purchase a firearm and possessing the gun illegally. He now faces a potential 25-year prison sentence.

Ripple Explores Digitizing Georgian Economy with Central Bank

Ripple partnered with the National Bank of Georgia (NBG) to explore ways to digitize the local economy. Its executive James Wallis met with NBG officials to discuss potential avenues for digitalization.

This partnership is building on their existing partnership for Georgia’s digital lari CBDC project. Ripple previously partnered with NBG as the tech provider for the digital lari pilot.

Read Full Story Here: What Does Ripple Partnership with National Bank of Georgia Mean For XRP?

Crypto News: A Total of $189.4 Million in Crypto Liquidated

The cryptocurrency market has experienced a notable selloff over the past two days. This led to the liquidation of approximately $189.4 million in leveraged positions. Bitcoin was down 3.5% over the past 24 hours, while Ethereum fell 4.6%.

A Tatal of $189M liquidated. Source: CoinGlass

A total of $147 million worth of long trades liquidated. Ether led the way with $70.5 million in liquidations, closely followed by bitcoin at $46.88 million. Binance saw the highest number of liquidations at $99.7 million.

The GMCI 30, an index tracking the 30 largest cryptocurrencies, fell to its lowest level since May, dropping 4.6% to 135.58.

ZKsync Airdrops 3.6 Billion Tokens

ZKsync is ready to distribute 3.675 billion ZK tokens to its community members. The airdrop, which accounts for 17.5% of the total 21 billion ZK token supply, will commence next week and run until January 3, 2025.

Once claimed, ZK tokens will enable holders to participate in the governance of the ZKsync protocol, voting on upgrades and paying network fees. The airdrop targets early adopters, with 695,232 wallets eligible based on their activity on ZKsync Era and ZKsync Lite as of March 24, 2024.

The distribution will be divided between users (89%) and contributors (11%), and individual allocations based on activities like interacting with smart contracts, providing liquidity, and trading ERC-20 tokens.

Read Full Story Here: ZKsync Will Airdrop 3.6 Billion ZK Tokens — More Details Inside

Follow CoinChapter to stay up-to-date on the latest crypto news and insights.

The post Top Crypto News Of The Day: OpenAI Lawsuit, Memecoin Rally, and More appeared first on CoinChapter.

Analysts are offering a variety of predictions for Bitcoin’s future price movements, reflecting a range of optimism influenced by upcoming events and historical trends. However, the broader cryptocurrency market indicates a burgeoning altcoin season, where altcoins, particularly those involved in AI and decentralized finance (DeFi) like BlockDAG Network and Ethereum, might outshine Bitcoin in the short and longer term.

The Bitcoin Trend to $100,000 

One of the most influential factors in Bitcoin price predictions is the recent Bitcoin halving event, occurred in April 2024. This event, which occurs roughly every four years, cuts the reward for mining Bitcoin in half, effectively reducing the supply of new Bitcoin entering the market. Historically, Bitcoin halvings have been followed by significant price increases. For example, post-halving price surges have been observed in past cycles, leading some analysts to forecast that Bitcoin could reach new all-time highs of $100,000 now two months after the 2024 event.

Dan Tapiero, a prominent crypto analyst, predicts that Bitcoin could hit $100,000 by late 2024 or early 2025. Tapiero cites the halving event and the increasing adoption of blockchain technologies by both countries and companies as key factors driving this potential rise. Similarly, Geoff Kendrick from Standard Chartered Bank also believes Bitcoin could test the $100,000 mark next year, driven by banking sector turmoil, the halving event, and the end of the Federal Reserve’s rate hikes.

Beyond these optimistic forecasts, other analysts provide a more nuanced view. For instance, projections for Bitcoin’s 2024 price range from a low of around $27,341 to a high of $118,102, reflecting the cryptocurrency’s inherent volatility. This wide range highlights the unpredictable nature of Bitcoin’s market behavior, influenced by various macroeconomic factors, regulatory changes, and shifts in investor sentiment.

Looking further ahead, some predictions are even more bullish. By 2030, Bitcoin’s price is anticipated to reach between $149,316 and $265,318, suggesting a potential increase of over 850% from its current levels. These long-term projections are often based on the assumption that institutional interest and mainstream adoption will continue to grow like it has done since 2009, providing an even stronger foundation for Bitcoin’s value appreciation.

Altcoins: Ethereum and BlockDAG Network Lead 

Analysts point out that while Bitcoin may reach new highs, it lacks the explosive potential of many altcoins in the current market environment. The altcoin market shows substantial upside potential, driven by innovations in AI and blockchain technology. For instance, AI-focused cryptos like Bittensor, Fetch.ai, and Openfabric AI are gaining traction due to their novel applications in decentralized machine learning and AI-driven tasks.

Moreover, Ethereum continues to be a critical player, with expectations of significant growth due to its extensive use in DeFi and other blockchain applications. Analysts suggest that Ethereum, along with BlockDAG Network, which offer scalable and efficient blockchain solutions, could lead the next phase of blockchain adoption.

Ethereum is poised to lead the altcoin season in 2024, according to several analysts and market experts. This potential leadership is attributed to various factors, including technological upgrades, regulatory developments, and the overall momentum in the cryptocurrency market.

One of the critical drivers for Ethereum’s potential leadership is the upgrades to its network. The most notable of these is the EIP-4844 (proto-danksharding) upgrade, which took place in March 2024 and aimed to significantly reduce transaction fees and enhance scalability. This improvement is benefiting Ethereum’s layer 2 (L2) networks like Polygon, Arbitrum, and Optimism, making Ethereum more efficient and attractive for users and developers.

The approval of Ethereum exchange-traded funds (ETFs) is another catalyst for Ethereum’s rise. ETFs make it easier for institutional investors to invest in Ethereum without dealing with the complexities of direct cryptocurrency transactions. The recent approval of Ethereum ETFs in Hong Kong has already generated optimism in the market. There is also speculation about potential ETF approvals in the United States, which could further drive institutional adoption.

Market Dynamics and Historical Patterns

Historically, altcoin seasons follow significant events in the cryptocurrency market, such as Bitcoin halvings. Analysts like Michaël van de Poppe and Josh Olszewicz highlight that Bitcoin’s recent performance often precedes a shift in investment towards altcoins. They suggest that Ethereum’s underperformance relative to Bitcoin recently indicates a potential for a significant catch-up, especially as technological and regulatory developments come to fruition.

Crypto analyst Ash Crypto has pointed out that Ethereum’s current price action resembles the bullish breakout observed in 2020. If Ethereum follows a similar trajectory, it could reach new all-time highs overcoming the $4,000 mark and can catalyze a broader altcoin rally, potentially leading to a substantial increase in altcoin valuations.

At the same time, BlockDAG Network represents a significant advancement in blockchain technology, aiming to address some of the inherent limitations of traditional blockchain systems. Utilizing a Directed Acyclic Graph (DAG) structure, BlockDAG combines enhanced transaction speeds and security with high decentralization, creating a robust framework for the future of decentralized finance (DeFi) and crypto mining.

BlockDAG has garnered significant attention and investment since its inception. It has raised substantial funds through its presale, highlighting strong investor confidence. For instance, the project has already raised over $50 million and is seeing daily inflows of $500,000 that has left analysts claiming it could lead the altcoin market together with Ethereum. 

As market dynamics evolve, it is essential to recognize the distinct opportunities presented by different projects within the cryptocurrency landscape. Bitcoin’s potential rise to $100,000 reflects its status as a digital store of value, while the altcoin market, especially with projects like Ethereum and BlockDAG Network, promises higher returns driven by technological advancements and new use cases. This diversification highlights the importance of a strategic approach to cryptocurrency investment, balancing between established assets like Bitcoin and emerging technologies within the altcoin space.

Read About BlockDAG Presale:

Website: https://blockdag.network

Presale: https://purchase.blockdag.network

Telegram:https://t.me/blockDAGnetworkOfficial

Discord: https://discord.gg/Q7BxghMVyu

Disclaimer: The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities.

The post “Bitcoin’s Next Move Could Be $100,000, But This Is Still Altcoin Season”: Analysts Predict Ethereum and BlockDAG Network Takeover appeared first on CoinChapter.

Metallicus, the core developer of Metal Blockchain, a foundational Layer 0 blockchain, today announced OneAZ Credit Union’s enrollment in its Banking Innovation Program. This move signifies OneAZ Credit Union’s proactive approach to investigating blockchain technology’s potential and harnessing Metallicus’ expertise to elevate its technological prowess.

“OneAZ Credit Union joining our Banking Innovation Program signifies a crucial advancement in our quest to innovate the financial sector with blockchain technology,” expressed Frank Mazza, Director of Blockchain for Institutions & Fintechs at Metallicus. “We’re eager to collaborate with OneAZ Credit Union, offering them the tools and resources to champion innovation and navigate the ever-shifting financial landscape.

“By joining the Blockchain Innovation Program we’re committing to exploring how we can leverage blockchain technology to set a new standard of excellence for our members,” expressed Brandon Michaels, President & CEO of OneAZ Credit Union. “At OneAZ, we believe that being at the cutting edge of innovation is critical to delivering on our promise to inspire dreams and drive prosperity and community growth for all Arizonans. We’re excited at the opportunity to learn more about the potential of this technology with Metal Blockchain.” 

Sandeep Uthra, EVP & Chief Technology Officer added… “We are thrilled to be part of this innovation ecosystem. Partnering with Metal Blockchain will help us accelerate the development of our next generation of banking solutions. We look forward to reimagining the banking technology by collaborating and innovating in blockchain technology as part of the Metal Blockchain’s Banking Innovation Program.”

The Banking Innovation Program by Metal Blockchain enables institutions like OneAZ Credit Union to navigate and adopt customized blockchain solutions, ensuring compliance with regulatory standards while addressing their distinct operational demands. Drawing on Metallicus’ unparalleled blockchain expertise and a distinguished advisory board, the program offers innovation workshops, fintech partnerships, R&D grants, and bespoke development, positioning participants to lead and innovate within the dynamic financial sector.

The Metal Blockchain Banking Innovation Program is designed to support financial institutions’ journey into blockchain technology at no cost. With a focus on tackling use cases around Digital Identity, Single Sign-On (SSO), Private Subnets, Tokenization of Assets, and more, the program equips participants with the tools and resources needed to drive profitability, lower costs, reduce risks, and deliver unparalleled customer experiences.

Financial institutions keen on participating in the Metal Blockchain Banking Innovation Program can express their interest or learn more by contacting bizdev@metallicus.com.

###

About Metal Blockchain:

Metal Blockchain, developed by Metallicus, is an innovative Layer 0 blockchain technology dedicated to tackling global finance challenges with its scalable, secure, and decentralized infrastructure built on the foundation of BSA Compliance. The versatile nature of Metal Blockchain’s infrastructure enables developers to craft customized solutions for a wide range of financial applications, promoting innovation and growth within the global financial sector. Guided by the vision of CEO Marshall Hayner, Metal Blockchain aims to transform the financial industry by embracing compliance-driven innovation.

About OneAZ Credit Union:

Serving Arizona since 1951, OneAZ Credit Union is a financial powerhouse managing over $3.4 billion in assets and serving over 185,000 member-owners and 11,000 business owners across 20 branches statewide.  We are committed to inspiring dreams and driving prosperity and community growth through innovative and high-quality personal and business banking solutions.  At OneAZ, it’s all about banking for the people, not for profit.  Discover more at OneAZcu.com.  Insured by NCUA.  Join us in driving prosperity and building a brighter tomorrow for Arizona.   

For Media Contact:

Cesar Hernandez

Omni Public

813.277.6540

ch@omnipublic.global 

Disclaimer: The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities.

The post OneAZ Credit Union Joins Metal Blockchain’s Banking Innovation Program appeared first on CoinChapter.

Staking is usually the main way to maintain the security of the PoS network. For a PoS network, the more and more dispersed assets in the network participate in the validator staking, the better the network’s security. Usually, starting from the PoS network itself, they provide incentives to validators, firstly to reward them as contributors, and secondly to encourage more validators to participate in network staking and verification.

 

In fact, for any PoS network, it is unrealistic to allow token holders to independently participate in the network validator staking. One is the cost perspective. For example, the minimum threshold for Ethereum’s PoS validator is 32 ETH. Based on the price of ETH 3,800 US dollars, the cost threshold to directly become a validator is about 121,600 US dollars, but the APR is only 2.21%, and the capital utilization rate is extremely low. On the other hand, the staker needs to have the ability to run the client independently to avoid fines. Overall, it is unrealistic for non-professional token holders to directly participate in the staking of any network as a validator.

 

Therefore, the emergence of the liquidity derivative pledge track, namely LSD, just solves the above pain points. On the one hand, token holders can entrust token pledges to the LSD protocol (no capital scale is required, usually assets worth tens or even tens of US dollars can participate), and the protocol will participate in the pledge of the PoS network on behalf of the pledger, and return part of the income to the pledger. At the same time, the LSD protocol will also return an LST token to the pledger, which is equivalent to the value of the pledged assets and can be used to obtain new income in LSTFi to improve the utilization rate of funds. This has a good driving effect on improving the pledge rate of the PoS network.

 

Except for the Ethereum ecosystem, other ecosystems are not large in LSD

 

However, from the current LSD track, except for the Ethereum ecosystem, the LSD scale of other networks is not large. On the one hand, in terms of scale, the current liquidity pledge scale of Ethereum is 13 million Ethereum, about 50.23 billion US dollars. According to the current 32 million Ethereum participating in the pledge in the Ethereum beacon chain, the liquidity pledge accounts for about 40.6%.

 

In addition to Ethereum, other PoS ecosystems such as Cosmos and BNB Chain are relatively small in scale, and the ratio of liquidity staking sources is not high. For example, among the ATOM tokens staked by Cosmos, although its overall staking rate is as high as about 63%, only about 2% comes from liquidity equity.

 

On the other hand, although LSD projects are rising, the leading LSD protocols represented by Lido, Rocket, Binance Staked, etc. have obvious monopoly effects in the field of ETH LSD staking, among which Lido alone accounts for 75% of the entire ETH LSD market share, and the market share of emerging LSD protocols is extremely low. In particular, the leading LSD protocols such as Lido are centralized models, which may have the risk of monopolizing most of the proportion, reducing the overall income of the LSD sector, and reducing the staking desire of the pledgers. In addition, excessive concentration of funds may cause security risks to the PoS ecosystem.

 

In addition to LSD, the re-staking track centered on EigenLayer, namely the LRT track, is also centered around the Ethereum ecosystem. Some LRT protocols including Kyper DAO, Renzo, Ether.fi, EigenPie, YieldNest, Swell, etc. are all built around LST and ETH assets to provide staking services, and lack support for native tokens on other chains. Similarly, EigenLayer also has shortcomings in maintaining network security. For example, in a PoS network, if EigenLayer’s incentive mechanism conflicts with the existing PoS incentive mechanism, it may reduce the validator’s commitment to network security. EigenLayer may cause some validators to gain more rights and control, thereby increasing the centralization risk of the network. Centralized networks are more vulnerable to attacks and manipulation, weakening overall security.

 

So overall, LSD and LRT may not be the best solutions for PoS ecosystem to obtain security:

 

● The LSD sector is severely monopolized and centralized. The scale of pledged income has decreased due to monopoly and it threatens the security of the PoS network, which deviates from the original intention of PoS.

 

● The multi-layer nesting model of LSD and LRT is risky, especially since some of the leading LSD protocols are too large in scale. Once a security problem occurs and a run occurs, it will be catastrophic for the Ethereum ecosystem. The Terra ecosystem is a lesson for this.

 

● The LSD and LRT tracks are mainly based on Ethereum. It is difficult for other PoS ecosystems to encourage more users to pledge through liquidity pledge and re-staking, and the problem of low capital utilization is difficult to solve.

 

● Except for the Ethereum ecosystem, there is a lack of infrastructure to support other PoS ecosystems to expand the scale of staking, and the trend of multi-chain development is hindered.

 

Of course, there are more solutions to maintain PoS network security and improve capital utilization than just LSD and LRT. The recent market-oriented LSP protocol has brought a better solution. Based on the innovative Node Slicing and OmniVerify Chain solutions, it capitalizes the user’s asset rights and node income rights and gives them liquidity. Compared with existing solutions, the LSP protocol is expected to achieve better results in PoS network security and promote the balanced development of the PoS network system, and PoS will return to its original intention.

 

LSP protocol “node slicing” solution

 

The LSP protocol is a new PoS liquidity derivative pledge solution. One of its features is the use of the Node Slicing solution as a core processing method for nodes during the protocol execution. Similar to LSD, PoS asset holders can pledge directly through the LSP protocol. The LSP protocol verification network will pledge funds to different PoS networks through the OmniVerify Chain network, and after verifying and hosting the decentralized network, the pledge certificate will be sliced. The sliced assets will include the user’s asset rights and node income rights.

 

Although the process of returning sliced assets seems similar to LSD, what is returned is not just an LST asset. Based on having all the capabilities of LST assets, it is also an asset that can represent asset rights and node income rights (LST assets do not have complete equity utility), that is, the process is a process in which users directly participate in the PoS network verification through the LSP protocol and obtain all the income rights obtained by the node. At the same time, the sliced assets can be freely exchanged and held in the LSP protocol trading platform, and can also be further traded in some LSTFi or even some LRT protocols.

 

 

Improving the scale and decentralization of PoS staking

 

In fact, from the perspective of the PoS network itself, it requires large-scale, decentralized users to participate in the verification of the network. From the perspective of scale, it is definitely difficult to meet the demand by simply attracting more retail traders to participate, so from this perspective, it is very necessary for some whale users, large node verifiers, and mining pools to participate.

 

A considerable number of these users run their own clients instead of participating in staking through the LSD protocol (potential risks are too high), but this method greatly reduces the utilization rate of funds, so the LSP protocol can become a good starting point. Using the LSP protocol, the above can more lightly carry out the funds in and out of the mining pool shares, and will not be affected by the fluctuation of assets in the mining pool staking nodes, making the public chain network more secure and reliable.

 

By utilizing the LSP protocol, nodes no longer need to go through complicated transaction confirmations and asset transfer pressures when exchanging asset ownership. Node holders can directly sell the node assets that need to be traded through the LSP trading platform, making it easier to exit, rather than requiring redemption to exit from the LSD and LRT platforms.

 

Of course, the decentralization of POS network staking nodes is equally important. On the one hand, the sharding scheme of the LSP protocol eliminates the potential threat of large stakers to the security of the PoS network. On the other hand, it is also expected to attract more decentralized users to participate in staking.

 

For users who need to participate in node staking, they do not need to participate in the construction of the network in a real sense. They can directly purchase node slices under the network ecosystem through the LSP protocol. This greatly reduces the threshold and deployment pressure for new users to participate in the public chain ecosystem, and also avoids various potential security threats in this process.

 

Adaptability to multiple PoS networks

 

Ethereum is currently the main market for LSD and LRT (centralized service providers dominate), and most emerging LSD and LRT protocols usually choose Ethereum ecosystem as their first choice in order to better capture users and funds. Therefore, it is unable to provide the original independent functionality of nodes to more ecosystems, including the data verification function of the network to which it belongs as an independent node. When it is unable to participate in verification, it also loses the core value of nodes as a guarantee of network data security, which is what we call a deviation from the original purpose of PoS.

 

This has resulted in the scale of Ethereum’s liquidity derivatives growing larger and larger, while other PoS ecosystems have difficulty in scaling up, which in turn has caused many emerging PoS networks to face certain difficulties in maintaining security and capturing stakers.

 

The LSP protocol is natively compatible with all PoS ecosystems, rather than being deployed at the bottom of one or several PoS networks like the LSD protocol. Therefore, the LSP protocol is not only aimed at Ethereum, but also other PoS ecosystems, which means that you can also pledge through the LSP protocol and get the return of slice equity assets.

 

When a large number of nodes on the same public chain network participate in the LSP protocol, or when a public chain network user interacts with the LSP protocol for the first time, a node pledge pool dedicated to the network ecosystem will be opened to ensure that these sliced certificate assets come from the same public chain network. After the node pledge pool is established, the node network that joins later will enter this pledge pool by default and conduct the required asset transactions or holding activities with other pledged certificates.

 

The above process is achieved through the verification network OmniVerify Chain, which can ensure that the node assets held by users can obtain the original node income and data verification functional value of the network to which they belong while running as an independent node.

 

Focusing on OmniVerify Chain itself, it is an important underlying infrastructure for the operation of the LSP protocol. The LSP protocol is built on OmniVerify Chain, which includes a Rollup layer and a data availability service DA layer, which provides absolute security and data consistency guarantees for the underlying assets and completes data verification and equity ownership through cloud nodes. In the actual operation of OmniVerify Chain, users actually only need to perform a few simple steps such as delegated verification, purchase/sale of node slices, and other proof certificates.

 

Since the security and functionality of the user-delegated nodes are guaranteed by OmniVerify Chain, strictly speaking, as long as the distributed network security management of OmniVerify Chain is friendly enough, its asset security is much better than storing it in the user’s hot wallet.

 

Composability and Programmability

 

The LSD protocol is composable and programmable.

 

Composability is reflected in the ability of PoS verification. In fact, in some PoS networks, if we want to make a cross-chain bridge, a game application, a derivatives protocol featuring a synthetic asset protocol, or even some protocols or layers attached to Layer1 and Layer2 (such as Layer3), etc., we need to build a set of verification groups with different schemes by ourselves, and these verification groups need to have certain PoS capabilities. Building a set of verification groups requires sufficient pledges and nodes to ensure decentralization, but this need is based on a lot of economic costs and also lacks certain security. Although EigenLayer can provide certain support, the protocol must be built on the Ethereum system and also faces some centralized risks such as the centralized risks we mentioned above.

 

The LSD protocol can solve the above problems through composability in this direction. While the LSD protocol itself provides verification capabilities for the PoS network, this verification capability is also extended to its underlying Dapps. For example, the LSD protocol integrates the Solana network and supports users to participate in staking on Solana. Then these SOL-based verification capabilities can also provide support for Dapps on Solana. These Dapps do not need to build their verification groups but can be directly developed and adapted through the OmniVerify Chain of the LSD protocol. The data verification revenue generated by the development of this product will be captured by most of these node slices, which will further expand the profitability of these node slices in the LSP protocol.

 

In addition, in terms of programmability, the node assets are shared through the LSP protocol, allowing more complex protocols to expand the ecosystem of assets in a composable manner, ensuring the composability of assets. Since the OmniVerify Chain network meets the EVM execution standards, its assets are also programmable. Any developer is allowed to use node-slicing proof certificates to perform any type of asset combination.

Backed by the huge PoS system, the LSP protocol has broad development prospects

 

Whether it is the LSD or LRT track, in theory, it has benefits for building a security moat for the PoS ecosystem, but in reality, there are still many limitations and security issues. The LSP protocol is of great significance to the development of the PoS ecosystem in terms of wide adaptability, programmability, composability, and many other aspects. It can not only further promote the expansion of the scale of the Ethereum pledge system to disperse, but also accelerate the balance of the scale of the PoS network pledge.

 

With the LSD protocol, users who participate in PoS staking can participate extensively in different ecosystems, and this more direct way of participation does not have the “nesting doll” attribute and thus does not have the risk of a death spiral.

 

From a market perspective, the LSP protocol has huge market potential in a broad sense. Some potential directions include:

 

● Data availability layer, such as AI-based data availability networks such as TAO and RNDR.

● Oracle networks, such as LINK, API3, etc., require nodes to participate in data verification value networks.

● Cross-chain bridges, such as LayerZero, Wormhole, and other networks that require nodes to participate in data consistency verification.

● Other consensus protocols, and consensus verification networks similar to POS mechanisms.

● Rollup-based L2 networks, such as BTC L2, ETH L2, and L2 of more public chain networks in the future.

● Depin networks of cloud computing services, such as Aleo, IO.net, Aethir, etc., use cloud computing to provide computing resources.

 

These networks cover almost all the non-POW public chain networks in the market. We believe that the overall market valuation of these networks will exceed one trillion US dollars in the next five years. On the other hand, the market-oriented consensus systems are all moving towards PoS, and even some infrastructure in the BTCFi field are following the PoS consensus mechanism. This trend is providing impetus for the development of the LSP protocol. If the LSP protocol can capture most of the nodes in a small part of the main public chain network ecosystem, then the node assets that the LSP protocol can manage and operate will also exceed tens of billions of US dollars, which also indirectly confirms the broad development prospects of the LSP protocol in the future.

 

Official Website: https://lsp-2.gitbook.io/lsp

 

Disclaimer: The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities. 

The post Exploring the LSP Protocol: The Best Solution for Building a Security Moat for PoS Networks appeared first on CoinChapter.

From the outset of FB Finance Institute, Professor Wilbur Clark foresaw the pivotal role of quantitative trading in future investment markets. He developed the “Lazy Investor System,” which achieved significant success in the financial markets. However, as the markets evolved, some limitations of the system became increasingly apparent.

 

Quantitative trading relies on historical data and lacks flexibility in new or rapidly changing market conditions; its decisions are based solely on preset rules and algorithms, lacking the intuition and subjective judgment of human traders. Moreover, the quality of data has a decisive impact on trading outcomes, with any errors potentially leading to strategy failures. The initial high costs and sensitivity to model risks are also major challenges faced by quantitative trading.

With continual technological advancements, especially in artificial intelligence, FB Finance Institute quickly adapted by integrating AI technology into its quantitative trading systems. The introduction of AI significantly enhanced the accuracy, efficiency, and intelligence of the system. By utilizing data mining and machine learning to analyze vast amounts of financial data, AI can more accurately capture market dynamics, improve the precision of investment decisions, and reduce the risk of human error through algorithmic automation of trades. 

More importantly, AI technology can monitor market changes in real time and automatically adjust trading strategies to adapt to ongoing market fluctuations. This capability has kept FB Finance Institute at the forefront of the fintech sector, particularly through the continuous optimization of trading strategies using machine learning and deep learning algorithms, effectively enhancing the profitability and risk management of trading strategies.

In 2018, Wilbur Clark led FB Finance Institute in a strategic shift from traditional quantitative trading to the realm of AI trading. Through this strategic transition, FB Finance Institute not only gained a greater competitive edge in the financial markets but also provided investors with more robust and efficient investment tools, establishing its leadership in the global financial technology revolution.

Media Contact

Company：FB Finance Institute

Contact Person: Jennifer Miller

Email: contact@fortunebuild.com

Website: www.fortunebuild.com

City：CroswellDisclaimer:This press release may contain forward-looking statements. Forward-looking statements describe future expectations, plans, results, or strategies (including product offerings, regulatory plans and business plans) and may change without notice. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements.

The post FB Finance Institute: Wilbur Clark’s Vision for AI-Driven Quantitative Trading appeared first on CoinChapter.

AST Mining‘s easy-to-use cloud mining platform allows you to participate in mining various cryptocurrencies, not just Bitcoin. Imagine earning daily rewards in popular coins like Ethereum or Litecoin without expensive equipment.

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DDos and SSL protection system.

Automatic daily payments.

Primarily centred on Bitcoin (BTC) mining, AST Mining simplifies the process, allowing users to engage in Bitcoin mining without the hassle of acquiring and maintaining mining equipment. By leasing computing power from AST Mining’s cloud infrastructure, individuals can partake in Bitcoin mining seamlessly.

Moreover, AST Mining extends its offerings beyond mining alone, presenting users with an affiliate program. Through this initiative, users can refer friends and potentially earn up to $5,000 in referral bonuses. This program supplements user earnings and fosters the expansion of AST Mining’s user base.

AST Mining Contracts

Contract price

Contract terms

Fixed return

Daily rate

$30

1 Days

$30+$0.9

3%

$200

1 Days

$200+$5

2.5%

$500

2 Days

$500+$17

1.7%

$1100

3 Days

$1100+$61.05

1.85%

$3000

5 Days

$3000+$292.5

1.95%

AST Mining prioritizes user security with robust measures such as McAfee® and Cloudflare® protection, ensuring the safety of user accounts and mining operations. This commitment to security enhances user trust and confidence in the platform.

Additionally, AST Mining caters to diverse investment capabilities and profit expectations with its flexible plan selection. Transparent earnings calculations and real-time reports empower users to monitor their mining progress and earnings effectively, fostering transparency in the cloud mining experience.

About AST Mining

Overall, AST Mining’s global presence, focus on Bitcoin mining, referral program, and stringent security measures position it as an attractive choice for individuals aiming to earn passive income through cloud mining. The platform’s user-friendly interface and adaptable plan selection accommodate both novice and experienced cryptocurrency miners, solidifying AST Mining’s status as a key player in the evolving cloud mining landscape.

For additional information on AST Mining, please visit our website at: https://astmining.com 

* Disclaimer: The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities.

The post AST Mining Launches New Cloud Mining Plan to Earn Bitcoin – Earn Cryptocurrency Daily appeared first on CoinChapter.

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 MarketingJake ScottGBM Auctionsjake@gbm.auction

The post GBM Auctions Hosts First Charity Bid-to-Earn Auction for Polkadot Ecosystem appeared first on CoinChapter.

Ripple National Bank of Georgia Read CoinChapter.com on Google News

LUCKNOW (CoinChapter.com) — To accelerate the adoption of central bank digital currencies (CBDCs) and drive financial innovation globally, Ripple has deepened its partnership with the National Bank of Georgia (NBG). The collaboration aims to explore new avenues for digitizing the Georgian economy. It will also help advance the central bank’s digital currency (CBDC) project, the digital lari.

Source: X High-Level Meetings to Boost Fintech Cooperation

Top officials from Ripple and the NBG convened in Tbilisi, Georgia’s capital. Natia Turnava, the NBG’s acting governor, and Varlam Ebanoidze, the head of the bank’s financial and supervisory technology development department, met with James Wallis, Ripple’s Vice President of Central Bank Engagements.

During the meeting, Wallis introduced Alistair Brown, a representative from EPAM Systems. This is a strategic partner of Ripple which specializes in software engineering, digital platforms, and product design. The discussions centered around potential avenues for collaboration to digitize the Georgian economy further.

You Might Also Like: Ripple Forms New Partnership, But Will It Save XRP From 42% Drop?

Building on Existing CBDC Partnership

This expanded collaboration builds upon the existing partnership between the NBG and Ripple. In September 2023, the NBG announced its plans to advance CBDC research and invited nine companies to participate in the digital lari project. Out of those invited companies, one was Ripple Labs. Subsequently, Ripple Labs was selected as the official technology partner for developing the digital lari.

Source: X

In addition to Georgia, Ripple Labs has been involved in CBDC pilots and related projects in countries such as Colombia, Bhutan, Palau, and Montenegro. Majority of banks in Japan, approximately 80%, have forged strategic partnerships with Ripple to implement its blockchain payment solutions.

The company has also published a comprehensive white paper emphasizing the importance of CBDCs in supporting asset tokenization and blockchain-based innovations. Ripple’s expertise in distributed ledger technology, cross-border payments, and financial infrastructure makes it a valuable partner for central banks and regulatory bodies exploring CBDC implementations.

What’s Next for XRP?

Ripple’s partnership with NBG did not significantly impact its native token, XRP. However, some experts foresee a potential surge in XRP valuation if the influential BRICS nations consider adopting XRP as part of their financial framework.

The XRP is currently trading around $0.48021. It shows a relatively flat movement with a 0.01% gain over the previous day’s close.

XRP/UsD Daily Price Chart. Source: TradingView

The Simple Moving Average (SMA) at $0.50223 indicates a bearish sentiment as the price trades below this key moving average.

There is a significant downtrend since the highs near $0.75 in mid-March. The price has been facing strong resistance around the $0.50 level, struggling to break above it sustainably. The Relative Strength Index (RSI) at 32.60 suggests that the momentum is currently neutral, with neither buyers nor sellers having a significant advantage.

If the price manages to break above the SMA 9 and the $0.50 resistance level convincingly, it could potentially target the next resistance around $0.55-$0.60. However, a breakdown below the current support levels around $0.47-$0.48 could trigger further selling pressure, potentially pushing XRP towards the $0.40 psychological support. Overall, the technical indicators suggest a consolidation phase for XRP, with the price trading within a range.

The post What Does Ripple Partnership with National Bank of Georgia Mean For XRP? appeared first on CoinChapter.

ZKsync airdrop Read CoinChapter.com on Google News

LUCKNOW (CoinChapter.com) — The ZKsync layer 2 scaling solution is planning for a major airdrop of its new ZK token next week. The ZKsync Association announced an airdrop of 3.675 billion ZK tokens to early users of the ZKsync network. This figure represents 17.5% of the total 21 billion supply. 

The allocation of total ZK token distribution. Source: zkSync ZK Airdrop Allocation From Users To Developers

This ZK airdrop is one of the largest distributions of tokens across all major layer 2 networks to date. It will reward those who have actively used ZKsync Era and ZKsync Lite, as well as developers, communities, and projects that have contributed to the broader ZKsync ecosystem.

89% of the airdropped tokens (around 3.27 billion ZK) will go to regular users of ZKsync who transacted on the network and met an eligibility threshold. The remaining 11% is for contributors like developers, communities, and projects building on ZKsync.

ZK Airdrop Distribution (Matter Labs)

Additionally, a small 0.5% portion is for experimental communities like recipients of the DEGEN and BONSAI airdrops, Crypto The Game players, and holders of Pudgy Penguins and Milady Maker NFTs.

Users can claim their airdropped ZK from next week until January 3, 2025. The tokens will be fully liquid with no vesting period.

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Putting the ZKsync Community First

According to ZKsync founder Alex Gluchowski, awarding more tokens to the community than the ZKsync team and investors is intentional. It ensures the community will control the majority of the liquid token supply when ZKsync’s governance launches soon.

It’s a community governance airdrop, so we hope recipients will participate in governance, delegate tokens, and become active members.

Gluchowski stated.

He added the airdrop will “prioritize real people” over whales and bots through mechanisms like a 100,000 ZK per wallet cap. While not eliminating bots entirely, ZKsync aimed to reward genuine users and contributors to the ecosystem.

The remaining ZK token allocations are 49.1% for ecosystem initiatives via the ZKsync Foundation, 17.2% for investors (vesting over 3 years from 2025-2028), and 16.1% for the Matter Labs team (same vesting schedule).

ZK tokens are currently trading around $0.71 on perpetual exchanges like Aevo. At this price, the 3.675B airdropped tokens would be valued at approximately $2.6 billion based on the total 21 billion supply. This represents a major windfall for ZKsync’s earliest and most active users and supporters.

The post ZKsync Will Airdrop 3.6 Billion ZK Tokens — More Details Inside appeared first on CoinChapter.