The Polkadot Treasury is a pot of funds collected via transaction fees, block production rewards, slashing, and staking inefficiencies. These funds are held in a system account accessible only by the system internal logic. 

The Polkadot Treasury

Polkadot’s on-chain Treasury has the potential to revolutionize how individuals do business and collaborate over shared goals. It brings the financial agency once solely reserved for governments and corporations to a decentralized peer-to-peer network. The Treasury can be used to fund any project or activity that benefits the Polkadot ecosystem. These include cross-chain application development, infrastructure development and continued operation, ecosystem provisions, marketing activities, software development, research, community events and outreach, and network security operations. 

How Are Treasury Inflows Determined? 

Several mechanisms determine token deposits into the Treasury. 

Slashes - When validators or nominators are slashed on Polkadot, a small portion of the slashed tokens is redirected to the Treasury. Slashes are infrequent events in the Polkadot ecosystem. 

Transfers - Funds can also be directly sent to the Treasury. However, like slashes, this is also a rare event and generally occurs because grantees reimburse some of the tokens allocated to them. The reasons behind the reimbursement could vary. 

Transaction Fees - 80% of the transaction fees of each submitted extrinsic are redirected to the Treasury, while the remaining 20% is given to block producers. 

Staking Inefficiencies - The Polkadot network uses a parameter called the ideal staking rate. Every time the actual staking rate is not equal to the ideal staking rate, the APY for stakers decreases. To keep the inflation rate constant at 10%, a share of the overall reward for stakers is diverted to the Treasury. 

How Are Treasury Outflows Determined?

Outflows from the Treasury are determined using the following mechanisms. 

Burned tokens - At the end of every spend period, 1% of the available tokens are burned. 

Tips - Smaller payouts to grantees. This generally happens within a spend period. 

Treasury Proposals and Bounties - Treasury proposals and bounties account for the largest share of outflows and must be approved via governance. Once approved, payouts can occur at the end of a spending period. 

Submitting A Treasury Proposal 

Let’s look at how to submit a proposal. Proposers can put together a project plan and budget. They can then garner feedback from the Polkadot community. If community feedback is positive, they can submit a proposal as an on-chain referendum. The steps below outline how to submit a Treasury proposal. 

Begin The Conversation - Ask the community for feedback regarding your proposal idea. 

Draft The Proposal - The next step is to draft your proposal. Your proposal must have a clear goal or address a specific problem. It should also explain how it would reach its goal and whether it would require ongoing maintenance. To simplify things, itemize the tasks that must be completed so that fees can be evaluated and important milestones followed. 

Revise Proposal - Revise your proposal based on the feedback received from the Polkadot community. 

Submit Proposal - If your proposal receives positive feedback from the community, you can submit it on-chain as an OpenGov referendum. 

You can also submit other types of proposals, such as bounty proposals and tips. 

Sub-Treasuries 

The Polkadot Treasury currently operates on a single account on-chain. Funds in the Treasury are managed by six Treasury tracks: Treasurer, Big Spender, Medium Spender, Small Spender, Big Tipper, and Small Tipper. Sub-Treasuries allow having Treasury accounts that correspond to each collective a possibility. This means the Polkadot Treasury can allocate funds to a sub-Treasury, allowing the respective collective to spend the funds according to their specific rule set.

Funded Projects 

Some of the projects funded by the Treasury are P2P hosting network by DatDot, Go Substrate RPC Client by Centrifuge, Node Infrastructure by OnFinality, Node infrastructure by Pinknode, Substrate explorer by Polkastats, and many more. The full list of funded projects is available on the Polkadot website.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Leading bank JPMorgan has taken a pessimistic stance and predicted that demand for spot Ethereum ETFs will be significantly lower than that for their Bitcoin ETF counterparts due to several factors. 

The United States Securities and Exchange Commission had approved key regulatory filings from ETF applicants last week. 

JPMorgan Expects Low Demand 

According to JPMorgan’s research report, the banking giant expects spot Ethereum ETFs to attract about $3 billion in net inflows for the rest of the year. However, it stated that the figure could rise to $6 billion if staking is permitted. According to the analysis, Bitcoin had a first-mover advantage and potentially saturated overall demand. 

“Bitcoin had the first mover advantage, potentially saturating the overall demand for crypto assets in response to spot ETF approvals.”

The SEC cleared key regulatory filings related to spot Ethereum ETFs last week. However, they are yet to begin trading because the regulator has yet to approve their S-1 filings. According to JPMorgan, the April Bitcoin halving event acted as an additional catalyst for spot Bitcoin ETFs, but there was no similar impetus for ETH in the near future. Additionally, the lack of staking for approved spot Ethereum ETFs made them less attractive compared to other platforms offering staking yields. 

“Ether as an application token “differs from bitcoin in its value proposition for investors with bitcoin having a broader appeal by competing with gold in portfolio allocations.”

The bank noted that lower liquidity and lower assets under management would also make spot Ethereum ETFs less attractive to institutional investors. 

An Abrupt Shift In Approvals 

In a surprising move, the SEC approved spot Ethereum ETFs, leading to some analysts speculating that the move could be politically motivated. The SEC’s re-engagement with stakeholders led to the approval of 19b-4 forms of eight applicants: Grayscale, Bitwise, BlackRock, VanEck, Ark 21Shares, Inve­sco, Fidelity, and Franklin Templeton. 

Other ETF Approvals May Face Hurdles

JPMorgan also expressed skepticism regarding the approval of additional crypto ETFs such as Solana, citing the SEC’s stance on classifying most cryptocurrencies as securities, creating significant hurdles. 

“The decision by the SEC to approve ETH ETFs is already a stretch given the ambiguity about Ethereum’s classification. We believe the SEC is unlikely to go further by approving Solana or other token ETFs, considering their stronger view on these assets being securities compared to Ethereum.”

JPMorgan’s pessimistic outlook starkly contrasts with the optimism expressed by other analysts. Standard Chartered’s Geoffrey Kendrick has predicted that Solana and XRP ETFs could be greenlit in 2025. TD Cowen’s Jaret Speilberg also anticipates the approval of a wide range of crypto ETFs, including basket funds that encompass multiple tokens.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Polygon, StarkWare, and Polyhedra have vehemently opposed zkSync’s use of the ZK ticker and have demanded that Matter Labs withdraw its trademark application for “zero knowledge.”

Matter Labs had filed trademark applications in nine countries to make “zero-knowledge” their exclusive intellectual property, sparking outrage in the crypto community. 

Industry Outraged 

Polygon, StarkWare, and Polyhedra have come together in a fierce protest against zkSync’s use of the ZK ticker. Polyhedra has already gone on record to state that it would be changing its original ticker from ZK to ZKJ, highlighting its intent to take on Matter Labs, which has filed trademark applications in nine countries. The company announced the news on social media platform X, stating, 

“To reflect Polyhedra Network’s ongoing commitment to zero-knowledge (ZK) technology and the long-term development of the industry, @HashKey_Global has collaborated with the Polyhedra Network project team to support the ticker update from ZK to ZKJ to become the first exchange to support this initiative for the public goodness of the blockchain industry.”

Matter Labs had previously attempted to register the ZK ticker on prominent cryptocurrency exchanges, aiming to establish its dominance over a crucial technological concept. Zero Knowledge is a type of cryptographic protocol that allows one person (prover) to convince others (verifier) that a particular claim is true without revealing any details about the particular claim. The move to trademark ZK technology has resulted in stinging criticism from the crypto space, with Eli Ben-Sasson, the CEO of StarkWare, calling it an absurd IP grab. 

“ZK cryptography was developed for the good of all. It’s shameful to witness an IP land grab by a company trying to expropriate ‘ZK’ as private intellectual property. It’s as absurd as an individual baker trying to impose a blanket patent on bread.”

Industry Experts Call For Withdrawal Of Trademark Application

Crypto industry leaders have called for an immediate withdrawal of Matter Labs’ trademark filing, calling the move oppressive in a public letter signed by major players from the crypto ecosystem. Signatories include StarkWare CEO Eli Ben-Sasson, Polyhedra Network co-founder and zkBridge inventor Tiancheng Xie, Turing Award winner, and ZK-proofs co-inventor Shafi Goldwasser. The letter stated, 

“We believe that ZK is a public good that belongs to everyone. A company exploiting the legal system to annex a public good violates the crypto ethos, the Ethereum ethos, and the academic ethos. It even goes against Matter Labs’ own ethos.” 

In a separate post on X, Polygon Labs slammed Matter Labs and called for the withdrawal of all improperly filed, generic trademark applications. Polygon stated that Matter Labs had itself benefited from open-source code, with its core zk stack leveraging Polygon Plonky2, and used the technology without proper attribution.

 “Aligned with the true Ethereum ethos, Polygon Labs consistently puts out open-source code that benefits everyone. One such beneficiary is Matter Labs, whose core “zk” tech stack leverages Polygon Plonky2. Initially, they utilized this technology developed by Polygon Labs without proper attribution until they were called out. Despite relying on others’ zk technology, Matter Labs now seeks to trademark “zk” to potentially restrict its use by others. Should anyone be allowed to monopolize math made publicly available by pioneers like Shafi Goldwasser, Silvio Micali, Charles Rackoff, Eli Ben-Sasson (STARKs), or Daniel Lubarov (Plonky2, a widely adopted zk library in web3)? Absolutely not.”

Meanwhile, StarkWare CEO Eli Ben-Sasson stated that ZK proofs have immense potential for humanity and that no single entity should attempt to claim them as their own. 

“ZK cryptography has massive potential for humanity — actually far beyond blockchain. We, in blockchain, are honored to be pioneering its first great use case – and hope this propels it to many other use cases.”

Matter Labs CEO Responds 

Matter Labs CEO Alex Gluchowski responded to the widespread outrage and defended the company’s actions by stating that he rejected the idea of intellectual property. He added that all trademarks, including those related to ZK, were defensive to prevent dishonest actors from misleading customers. 

“All the trademarks we had ever registered, including ZK-related ones, are defensive to prevent dishonest actors from misleading their customers and confusing their products and services with the ones offered by Matter Labs (as had unfortunately been the case in the past).”

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

The memecoin niche has been pretty crazy over these last few months. With market capitalizations in the billions, memecoins continue to be one of the main front-running niches for the crypto sector. $PEPE , $WIF , and $TRUMP are among the leading gainers. 

An evolving memecoin market

The memecoin niche is evolving over this crypto bull market. The leading memecoins from the 2021 bull market are still the leaders now. Dogecoin (DOGE) and Shiba Inu (SHIB) are still heading the pack, and by quite some distance. But the 2023/4 newcomers are catching up fast.

In first and second place in the market cap rankings, $DOGE and $SHIB have market caps of $23 billion and $15 billion respectively. Some might say that they are perhaps no longer memecoins, given that $DOGE could have fundamental value if used by Elon Musk, perhaps as a payment medium on X (Twitter), and $SHIB now has utility built into the token.

Nevertheless, both $PEPE and $WIF , in third and fourth positions in the rankings, are pure speculative memecoins, with nothing but fresh air backing them up. However, $PEPE has managed to reach a market cap of $6.45 billion, and $WIF has achieved $3.4 billion. Not bad for what are in effect casino chips. 

More recently, these memecoins have been joined at number 10 in the market cap rankings by $TRUMP. Whether it's the popularity or infamy of its namesake, $TRUMP has certainly exploded onto the memecoin scene, and with the US presidential elections coming up in November, this memecoin could have a lot of juice left in it.

Potential for a great $PEPE trade

Source: TradingView

With a 332% gain since 1 April, $PEPE has been a great trade for those who picked it up at $0.00000400. Looking at the weekly chart above, and the big Fibonacci level of the 0.618, if the price wicked down here it would be an almost 48% retrace. However, buying in at $0.00000900 could be a risky but potentially great trade.

$WIF sideways consolidation

Source: TradingView

$WIF is making higher highs and higher lows on the daily chart. The latest minor correction will perhaps come down to the 0.618 Fibonacci at $3.0500 or the 0.786 at $2.7775. This is still pretty much sideways consolidation for $WIF , and if this thing takes off, stand by for much higher prices.

Could $TRUMP go down to $9?

Source: TradingView

$TRUMP is in a great uptrend. After a 13-day consolidation period, the price put on a 108% surge, which topped at $17. It doesn’t look like this might be the end of this surge either, as the wick down to nearly $10 testifies. That said, if $BTC does take a bit of a deeper correction, $TRUMP could be bought at the 0.618 Fibonacci, located at the stair step at $9. With an eye on the US elections, there is perhaps a lot more to come from this particular memecoin, and getting in at a good lower price could lead to some great future gains.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Pepe ($PEPE ) resumed its upward trajectory on Friday, rallying by close to 7% to end the month of May. 

The Pepe price currently stands at $0.0000152 and is gearing for another push towards a new all-time high.

Meme coins continue to outperform most alternative asset classes during this bull run. All eyes are now on the new multi-chain token Dogeverse, which is set to go live on Uniswap on June 5th after raising north of $15 million in its ICO. 

Some analysts have tipped Dogeverse as the next crypto to explode. 

Why is Pepe Coin Rallying Again?

Pepe witnessed a significant pullback after reaching a new all-time high of $0.0000172 - correcting by 24% down to $0.000013 - before displaying a consolidatory price action. 

However, whales remain confident that Pepe will continue to be a top performer in this bull cycle. Lookonchain reveals that two whales made major investments into the token - worth $4.5 million and $3 million respectively - after Pepe’s price dropped earlier this week. 

The meme coin also appears to have received a considerable boost from the favourable PCE inflation data released today. Indeed, Pepe remains strongly correlated to Bitcoin and Ethereum, both of which bounced back up after the PCE came out to be in line with the consensus expectations. 

❖ U.S PCE PRICE INDEX (MOM) (APR) ACTUAL: 0.3% VS 0.3% PREVIOUS; EST 0.3%U.S PCE PRICE INDEX (YOY) (APR) ACTUAL: 2.7% VS 2.7% PREVIOUS; EST 2.7%

— *Walter Bloomberg (@DeItaone) May 31, 2024

BTC and ETH have dipped since, likely due to the weak US Chicago PMI released today which has sounded recession alarms in the market. 

Chicago PMI just clocked in at a depressing 35.4 reading - the lowest since the depths of covid and at levels consistent with past recessions.Manufacturing is a leading indicator of economic activity. Eventually this will matter. pic.twitter.com/vtXrSI1q8o

— Mayur मयूर Thaker ठाकर (@freshjiva) May 31, 2024

However, Pepe continues to show impressive resilience, managing to hold above the $0.000015 price level for now. 

The token is also witnessing impressive daily volume, which currently stands at $1.9 billion, the highest amongst meme coins. 

Will Pepe Flip Shiba Inu?

Experts are confident that Pepe will be the meme coin to watch during this bull market. 

Pepe coin already surpassed the $7 billion market capitalization earlier this week. Meanwhile, Shiba Inu continues to show tepid price action and has a market capitalization of just $15 billion. 

Therefore, it would not be a surprise if Pepe manages to flip Shib in the upcoming months. After all, it remains strongly correlated to Ethereum, almost acting as leveraged ETH. 

Considering that the spot Ethereum ETFs will soon start trading, attracting heavy institutional investment in ETH, Pepe could significantly outperform most other large-cap meme coins such as Shiba Inu and Dogecoin. 

Could Dogeverse Be The Next 100x Meme Coin?

Neither Pepe nor Shiba Inu can deliver 100x ROI any more, considering their large valuation. 

On the contrary, experts believe that Dogeverse could be the next 100x meme coin, owing to its multi-chain nature and promising potential during its presale.

 

Indeed, Dogeverse has already raised over $15 million in its highly successful ICO. Considering that its presale is set to end on June 3rd, investors are expecting the hype and FOMO to reach a fever pitch. 

Following the conclusion of the ICO, Dogeverse will launch on crypto exchanges on June 5th at 10 AM UTC. 

Dogeverse is the first meme coin ever to launch on 6 different blockchains simultaneously. These stellar chains include Ethereum, Solana, BNB Smart Chain, Polygon, Avalanche and Base.

Each blockchain ecosystem has its own set of popular DEXs and CEXs and Dogeverse is aiming to gain maximum visibility by going live on as many such platforms as possible. 

It is therefore no surprise that smart-money traders are bullish on the new meme coin, with one whale investing over $183k during the presale. 

 

Interested buyers still have until June 3rd to buy Dogeverse from the over-the-counter widget on its website. 

Visit Dogeverse Presale

Disclaimer: This is a sponsored article and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.

This year's bull market undoubtedly belongs to memecoins. They are achieving extraordinarily high increases. For these types of projects, it is best to focus on those that are building a strong community around them, providing a solid foundation for further growth. 

This article will describe 3 memecoins worth watching in June 2024.

Eddie Seal ($EDSE)

Marketcap: 362k USD

Eddie Seal ($EDSE) is a Solana based memecoin. EDSE has been on an upward trend for the past two weeks. It increased its market capitalization from around $20,000 to the current $362,000 in less than a week. This success is due to regular postings of animations and memes, an engaged community, and a well-organized team. Another notable point is the relatively high liquidity-to-marketcap ratio. The strategy adopted by the Eddie Seal team is similar to the PONKE project, which exceeded a valuation of $300 million through regular postings of animations.

About $EDSE:

Tg: https://t.me/eddie_EDSE

X: https://x.com/eddie_EDSE

Website: https://www.eddieseal.org/

Dogwifhat ($WIF )

Marketcap: 3.5 bln USD

Dogwifhat (WIF) was created at the end of 2023 and is also based on the Solana blockchain. The token, which originally cost $0.000013, quickly gained prominence and became one of the most popular meme coins, following in the footsteps of Dogecoin and Shiba Inu. Currently, almost all fundamental analysis indicators, including moving averages and MACD, signal a buy.

About $WIF

Tg: https://t.me/dogwifcoin

X: https://x.com/dogwifcoin

Website: https://dogwifcoin.org/

SLERF ($SLERF)

Marketcap: 150 mln USD

One of the meme coins attracting community attention is Slerf, whose creator unknowingly burned over $10 million in Solana before its launch. Despite this significant setback, the Slerf project received an enthusiastic response, reaching a market capitalization of $500 million shortly after its launch. Later, the price began to stabilize. Currently, after the price has stabilized, some analysts believe that Slerf has room for further growth.

About $SLERF

Tg: https://t.me/slerfthesloth

X: https://x.com/Slerfsol

Website: https://www.slerf.wtf/

 

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

The cryptocurrency market is abuzz with anticipation. The start of an Ethereum ETF promises exciting opportunities. This development could propel certain digital coins to new heights. Dive in to discover which cryptos might see significant gains thanks to this new financial instrument.

CYBRO Gets on Crypto Whale's Radar with Presale of Its Tokens

CYBRO is a new platform designed to help users earn more on the Blast blockchain. Blast is known for offering better returns on Ethereum (ETH) and stablecoins than other similar solutions. CYBRO's main function is to help users take full advantage of this opportunity.

Currently, CYBRO is selling its tokens on presale at a low price of $0.025 each, which is 58% cheaper than the expected future price. This offers a potential ROI of 140%. There's talk that a crypto whale might buy a significant amount of CYBRO tokens, showing strong interest in the project. Only 21% of the total tokens are available for this presale, and about 25 million have already been sold.

>>>Buy $CYBRO at 58% Discount While You Can - The Supply is Limited!<<< 

Holders of CYBRO tokens will receive several benefits, including rewards for staking, special airdrops, cashback on purchases, lower fees for trading and lending, and an insurance program within the platform.

CYBRO aims to support crypto growth through various investment strategies within the Blast ecosystem and beyond. These strategies range from conservative to high-yield investments. The platform focuses on maximizing returns through efficient crypto transactions. Future updates include AIBroker for chatbot-assisted investments and a One-Click Investment feature for optimizing returns through integration with decentralized (DeFi) and centralized finance (CeFi).

>>>Grow Your Crypto Portfolio with CYBRO! Join NOW for Future Returns up to 140%!<<<

Solana (SOL) Price Overview: Current Momentum and Predictions

Solana (SOL) is trading within $153.32-$181.13. The price is seeing a corrective move currently. SOL dropped by 5.07% in the past week but gained 31.72% over the last month and surged 162.45% in six months. Key levels include resistance at $198.87 and support at $143.23. Indicators like RSI at 48.37 and MACD at -0.43 suggest a neutral to bearish sentiment. The 10-day and 100-day moving averages are close, signaling potential sideways movement soon.

Ethereum (ETH) Price Overview and Future Trends

Ethereum (ETH) is currently trading in the range of $3264.54 to $4168.16. Over the last week, its price has dropped by 1.16%, but it has surged 23.92% in the past month and 72.67% over six months. The nearest resistance is at $4510.26, while support is at $2703.03. The RSI is 43.77, and the Stochastic stands at 19.99, indicating a recent downtrend. However, with these levels, ETH is showing impulsive moves, suggesting potential for further price increases.

NEAR Protocol Price Overview: Is a New High Possible Soon?

NEAR Protocol (NEAR) is currently trading between $7.32 and $8.34. Over the past week, it has seen a 5.29% drop, but it’s up 17.76% over the last month and a massive 262.59% over six months. The RSI stands at 37.34, suggesting it's not overbought. With the nearest resistance at $8.86 and support at $6.83, NEAR is currently in a corrective phase. The indicators show a mix, and the price could see some consolidation before a potential move.

Render (RNDR) Price Overview: Steady Growth with Recent Pullback

Render (RNDR) is currently trading in the $9.21-$11.32 range. It faces resistance at $12.65 and support at $8.43. Over the past week, RNDR dropped by 2.00%, while it soared 36.38% in the last month and 175.51% over six months. The 10-day SMA is $10.03, and the 100-day SMA is $10.18. With an RSI of 39.20 and Stochastic at 24.58, the price action shows a corrective move. The nearest resistance level might be a key hurdle.

Conclusion

Coins like SOL, ETH, NEAR, and RNDR may see smaller gains in the short-term. The standout opportunity appears to be CYBRO. It is an earn marketplace based on the Blast blockchain. Scheduled for its initial release in Q2 2024, CYBRO presents a unique chance. Early investors can get in on favorable terms by participating in the CYBRO token presale.

Site: https://cybro.io

Twitter: https://twitter.com/Cybro_io

Discord: https://discord.gg/xFMGDQPhrB

Telegram: https://t.me/cybro_io

Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.

 

Playnance is a comprehensive ecosystem that recently made a splash in the Web3 gaming world. Its Layer3 blockchain solution, PlayBlock, set a record on Arbitrum Orbit for the highest daily transaction volume. Within a single month, PlayBlock processed over 11.5M transactions, averaging a staggering 500,000 to 600,000 daily executions. This achievement surpasses all 14 other Arbitrum Orbit gaming chains combined and solidifies its position as a leading Layer3 gaming ecosystem.

Playnance, established in 2020 with headquarters in Tel-Aviv, Israel, and a MENA head office in Dubai, UAE, has built a comprehensive suite of products designed to empower both gamers and developers in the blockchain gaming space. The core of the Playnance ecosystem is PlayBlock, a Layer3 blockchain built on Arbitrum Orbit's Gelato Rollup-as-a-service solution – a technology that streamlines the process of deploying and managing rollup smart contracts. 

PlayBlock boasts the distinction of being the first zero-gas player-centric blockchain, taking advantage of cutting-edge technologies like Account Abstraction and Layer3. Account Abstraction technology separates user accounts from their private keys, enhancing security and simplifying user experience by removing the need for complex key management. Playblock also leverages the scalability benefits of Layer3 by processing transactions on a separate chain before finalizing them on the underlying Layer2 (Arbitrum Orbit) and eventually Ethereum (Layer1). This further enhances transaction speed and reduces costs.

Benefits for All: A Win-Win Situation

PlayBlock offers significant advantages for both gamers and developers, fostering a mutually beneficial environment. Gamers enjoy a seamless gaming experience with zero gas fees, eliminating the financial burden associated with traditional blockchain games. Fast transaction processing ensures smooth and uninterrupted gameplay.

Developers can leverage PlayBlock's plug-and-play infrastructure to speed up the process of launching and scaling their blockchain games. This reduces development time and allows developers to focus on creating engaging experiences and attracting new users. The access to a wider audience within the PlayBlock ecosystem maximizes the potential reach and profitability of their games.

Tokenomics Model for a Thriving Ecosystem

PlayBlock Network spearheads a breakthrough dual tokenomics model designed to foster a vibrant and sustainable gaming ecosystem. This model revolves around two distinct tokens, each fulfilling a unique purpose.

PBG (PlayBlock Gas) 

It is the utility token that powers the PlayBlock network and provides a smooth and cost-effective experience. PBG facilitates various in-game actions and transactions, such as purchasing items, upgrading characters, and participating in play-to-earn activities without incurring gas fees. The zero-gas feature ensures that PBG is used for in-game functionality rather than transaction fees.

USDP (Universal Stable Dollar)

USDP is a stablecoin pegged to the US dollar, providing stability and reducing price volatility within the PlayBlock ecosystem. It protects gamers and developers from sudden fluctuations in the value of the PBG token. This is crucial for in-game economies, as it allows players to value and trade in-game assets with a more predictable currency.

Playwall is an integral component of the Playnance ecosystem, serving as a secure and user-friendly gateway for in-game transactions. It's a non-custodial wallet that allows players to manage their PBG and USDP tokens, connect to PlayBlock dApps, and access various games within the Playnance ecosystem. Playwall helps with buying, selling, and managing in-game assets, fostering a robust and frictionless in-game economy. 

PlayBlock's Gaming Universe and P&P Solutions

PlayBlock fuels a growing library of exciting games, designed to cater to diverse player preferences. 

Among the highlights is UPvsDOWN, a fast-paced flagship game where players wager on the price movement of virtual assets, testing their market predictions and reflexes. MoonXP offers a captivating space exploration adventure, where players build spaceships, gather resources, and expand their intergalactic empire. 

CALLvsPUT simulates real-world financial markets, allowing players to place calls and put options on various assets, making it a fun and engaging way to learn about options trading concepts.

One of Playnance's most compelling strategies is its plug-and-play solutions. This approach empowers anyone with existing traffic or a user base to tap into the potential of blockchain gaming and start generating revenue within a remarkably short timeframe – just 2 hours. Playnance provides built-in monetization tools to streamline this process, so anyone could generate revenue through various models while keeping track of one's performance with comprehensive analytics dashboards.

A Game Changer for Web3 Gaming

A world of exciting and rewarding blockchain games powered by PlayBlock is for gamers to discover. PlayBlock offers a seamless and enjoyable gaming experience with its focus on zero gas fees, fast transaction processing, and a diverse library of games.

The Playnance ecosystem offers a comprehensive solution for all stakeholders in the blockchain gaming industry. It offers developers a user-friendly and cost-effective platform to launch their next game. 

Overall, Playnance represents a confluence of cutting-edge technologies, a thriving gaming community, and a proven user acquisition strategy through plug-and-play solutions. The ecosystem's strong foundation, coupled with its record-breaking transaction volume, suggests significant potential for future growth, which might be interesting to investors. 

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

For most investors the question uppermost in their minds must be “How high will Bitcoin go?” This is the hardest money asset on the planet, so surely a few multiples of the current price should be in order before Bitcoin falls into its customary year-long bear market?

Current Bitcoin price action is par for the course

As things currently stand, holding Bitcoin cannot be much fun. If you are an investor who jumped onto the Bitcoin bandwagon when the king of the cryptocurrencies was around its high of $73,600, you have watched it go sideways for about two and a half months so far.

However, this period of consolidation and accumulation is par for the course, and the case for Bitcoin moving upwards at some point in the near future is a reasonably solid one. The current price of just over $68,000 is only about 8% from the all-time high, and breaking this and confirming above will be the signal that Bitcoin is going to go higher.

When the price breaks above an all-time high it then goes into what is called “price discovery”. This means that there are no longer any resistance levels from previous price action, so technical analysis becomes a bit like feeling around in the dark as to where the price might go.

The amazing Fibonacci sequence

That said, there is one tool left in the box of the technical analyst which is incredibly powerful. It is based on pure mathematics and has been around for centuries. This is the Fibonacci sequence.

When used on previous price action for Bitcoin (or for absolutely any asset) the Fibonacci sequence levels are amazingly accurate at confirming or predicting major support or resistance areas.

Source: TradingView

For example, if one draws a Fibonacci from bottom to top of the last big price surge, the most important Fibonacci level of 0.618 shows the area of major support, and looking left across the chart to the 2021 price action, this lines up perfectly with a major support level there as well. 

As well as giving support levels, the Fibonacci tool can predict the resistance levels going out into future price discovery. So this is what we will use to see where Bitcoin might go.

Possible Bitcoin targets

Source: TradingView

Zoomed out in the same time frame, we can see the Fibonacci extension levels. They do generally appear to coincide with the target levels that are bandied about on social media.

The conservative target of $102,000 is the next level at the 1.618, and then we have $156,000 at 2.618, $210,000 at 3.618, and $243,000 at 4.618. Of course there are others that are higher than this, but most of these would probably please most investors.

One final thing. The Bitcoin price is currently still struggling to get above the 1.0 Fibonacci. Is there a possibility that the price could continue to roll over from here, and that this is the top? Unlikely, but nothing is impossible in markets. It’s always best to never discard any scenario.

Happy investing.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

As May comes to a close, the cryptocurrency market is trending upward, leading many to anticipate the imminent arrival of the long-speculated crypto summer. With the next bull run taking shape, individuals are increasingly exploring diverse methods to profit from digital assets. 

One of the most favored and convenient avenues for earning passive income from crypto is staking, which offers much higher interest rates and rewards compared to traditional financial institutions. Recent data indicates that as of 2024, crypto staking has evolved into an industry exceeding $322 billion, fueled by the growing adoption of digital assets and the maturation of the crypto market.

Currently, there are over 180 cryptocurrencies available for staking. However, a particularly exciting option has recently captured the attention of the crypto community, promising to elevate staking rewards to unprecedented levels. For nearly two months, leading crypto influencers, traders, and analysts have been eagerly awaiting the launch of Choise.ai's innovative staking platform, which debuted just recently, allowing holders of the ecosystem’s native CHO token to partake in its lucrative multi-million-dollar B2B revenue stream with staking returns surpassing 100%.

But before we delve into the unparalleled potential of this development, let’s examine the fundamentals of cryptocurrency staking and explore why CHO presents an exceptional opportunity for maximizing profits through this form of passive income.

What Exactly Is Staking?

In essence, staking is a process used by certain cryptocurrencies that operate on a Proof-of-Stake (PoS) model. PoS serves as an energy-efficient alternative to the Proof-of-Work (PoW) system employed by Bitcoin.

Staking crypto can be likened to putting your digital assets to work. This involves locking up a portion of your crypto holdings to support the operations and security of a blockchain network. 

By staking your crypto, you deposit your coins into the network as a form of collateral, which helps maintain the blockchain's integrity and functionality. In return, you gain the chance to participate as a validator, verifying transactions and adding new blocks to the blockchain.

Why Is Staking Gaining Such Significant Attention?

Staking offers an excellent way to earn passive income. By committing your resources to maintain the integrity of a blockchain network, you are compensated with staking rewards, expressed as the annual percentage yield (APY). The APY you receive generally depends on the amount of crypto you stake and the duration of your commitment, which is akin to earning interest in a savings account.

Consider the Ethereum (ETH) network, which is the most popular PoS staking coin, boasting over $120 billion in staking market capitalization. When you stake your ETH, you might be chosen to validate transactions and propose new blocks. If the block you propose is accepted and added to the blockchain, you earn additional ETH as a reward.

Currently, the average staking APY for Ethereum ranges between 4-5%. To put this in perspective, a 5-7% return on investment (ROI) from low-risk stocks is considered good. But, with ETH staking, this return can be entirely passive, requiring minimal effort to earn. Additionally, you don’t have to pay high fees to brokers and other intermediaries, which typically eat into your ROI.

Are There Any Risks Involved in Staking?

However, the 4% APY for ETH staking signifies a considerable decline from the 9% returns observed in late 2021. This shift occurred following Ethereum's transition from its initial PoW system to PoS in 2022, known as the Merge, and the subsequent Shapella upgrade.

Staking rewards are influenced by several factors, including on-chain activity, token demand, crypto prices, and the number of validators. An increase in validator nodes generally leads to a dilution of staking returns. This is exactly what happened following the Shapella upgrade that eliminated lockup periods for staking ETH, attracting more investors to create validator nodes. Consequently, the number of validators has nearly doubled within five months, which contributed to the reduction in Ethereum staking yields in recent quarters.

Although the market shows signs of recovery after the prolonged crypto winter, enhancing both on-chain metrics and demand for major cryptocurrencies, inherent price volatility remains another substantial risk in staking. This volatility is particularly impactful as staking rewards are usually paid in the same cryptocurrency that is staked.

If you stake ETH and its value plummets due to market fluctuations, as it recently did from almost $3,700 to just below $2,900 within a month, the value of your staking rewards also decreases. Thus, even if the quantity of coins earned as rewards remains stable, their market value can drop, affecting the real ROI. Moreover, withdrawing and selling staked assets during periods of high volatility can lead to additional penalties or a loss of staking rewards.

Why Is CHO Token a Hidden Gem for Crypto Staking? 

The reduction in APY for Ethereum staking following the Merge has prompted many investors to seek alternatives, particularly those offering higher returns. Staking rewards vary depending on the blockchain, and among the top 20 PoS coins by staking market cap, Celestia (TIA), Polkadot (DOT), Internet Computer (ICP), Cosmos (ATOM), Saga (SAGA), and Injective (INJ) stand out for offering double-digit APYs, ranging from 10% to over 19%.

Although these assets are currently trading at relatively affordable prices, savvy investors often explore the market further to identify even lower-priced staking cryptocurrencies with strong fundamentals, thereby establishing a solid foundation for potential growth and enhanced returns. The CHO token is one such golden opportunity for effortless wealth.

Previously, CHO served as a cornerstone of the Choise.com B2C platform, now part of the rapidly evolving Choise.ai ecosystem. Through a special Charism protocol, staking CHO enabled participants to receive APYs of up to 28%. Additionally, CHO stakers could easily sell their locks in the form of veCHO NFTs, an exciting possibility known as liquid staking in cryptocurrency circles.

Following the merger of Choise.com with the B2B company Vault, founded by the same team, to form Choise.ai, staking rewards for CHO are set to receive a significant boost. The project emphasizes a community-first approach, ensuring its loyal supporters are the primary beneficiaries of its growth efforts. Consequently, Choise.ai has initiated the launch of a special incentive program with up to 20% of Vault’s revenue allocated to reward CHO token stakers with the newly launched VLT token.

Despite being operational for less than a year, Vault has already established a strong reputation in the burgeoning enterprise niche, building a solid track record. The company's intrinsic value – creating white-label products and APIs for the swift, cost-effective, and smooth launch of digital and crypto banks – has resonated with current market demand, resulting in over 50 signed contracts worth over $20 million.

If market conditions remain favorable, Vault stands a great chance of achieving $60 million in revenue by the year’s end and potentially surpassing the $180 million milestone by 2025. This growth could significantly enhance the value of CHO staking, allowing users to increase their passive income through the recently introduced CHO/VLT staking platform.

More Lucrative, Transparent, and Reliable Than Ever: Key Benefits of Staking CHO Today

From now on, CHO holders can stake their holdings on Binance Smart Chain (BSC) with lock-up periods ranging from three months to one year. The APY starts at 30% and can reach an impressive 100%.

Industry insiders suggest that these returns could even reach 150%, as the project team exclusively offers hidden community tips for enhanced earnings via their social media channels, which is brimming with various contests providing opportunities to grow one’s CHO stash.

Overall, staking CHO implies several advantages over other existing options, primarily due to the implementation of VLT:

Stable growth trajectory: As Vault’s revenue consistently increases, the amount of VLT allocated for staking rewards will also grow. 

Fixed price of VLT: VLT maintains a base price of 1 USDT, protecting it from market volatility and preserving the value of earned rewards.

Fair distribution: The amount of VLT you receive depends not only on the quantity and duration of your stake but also on your overall engagement with the CHO token. All CHO holders, categorized from early buyers to current owners and potential investors, will receive proportionate rewards, with priority given to longer-standing supporters.

User-centric approach: Initially, staking CHO for VLT will be exclusively available to the CHO token community, ensuring they get the first dibs on benefits from Choise.ai’s multimillion-dollar B2B earnings.

With seven years of expertise in the crypto industry, the team at Choise.ai has developed a reliable and profitable staking mechanism that addresses many common issues. As the utility of the CHO token continues to expand, enhancing its market value and appeal, staking CHO for VLT not only offers increased APY but also the potential for profit from the token’s price growth.

Conclusion

Crypto staking has emerged as a compelling method for earning passive income while contributing to the blockchain ecosystem. Its primary advantage is offering a more stable return compared to speculative investments, making it a less risky way to profit from digital assets. However, staking is not without risks, necessitating thorough due diligence when it comes to selecting reliable platforms for maximizing returns and minimizing pitfalls.

Projects like Choise.ai provide significant advantages for those looking to capitalize on staking opportunities. By leveraging the synergy between CHO and VLT tokens, Choise.ai accommodates both novice and experienced stakers, offering APYs up to 150%. With CHO trading at a price 18 times lower than its all-time high of $1.38, the potential for growth is substantial. This, coupled with the ecosystem's robust staking mechanisms, makes CHO staking a highly attractive form of generating passive income in the crypto market.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

 

New meme coin and upcoming Uniswap listing Dogeverse ($DOGEVERSE) has made headlines for raising over $15 million in its ICO which ends in three days.

Owing to its multi-chain strategy of going live on 6 different blockchains simultaneously, the meme coin is witnessing strong early demand and significant excitement. 

Dogeverse has even been featured in popular crypto news publications and is being touted by some influencers as the next big meme coin. 

New meme tokens have been delivering outsized returns in this bull market. However, they also carry the risk of being scams and rug-pull projects. 

In this article, we analyze Dogeverse’s fundamentals, including its security audit, and determine whether it is legit or a scam. 

Why is Dogeverse in the Spotlight?

The excitement surrounding Dogeverse has particularly surged after its IEO announcement. Its presale will end on June 3rd and the meme coin will launch on exchanges on June 5th at 10 AM UTC. 

Get ready to blast off with Cosmo! 🚀🌀⏳ #Presale ends on June 3rd at 10 AM UTC!🌐 Claim launches on June 5th at 10 AM UTC!This is your LAST CHANCE to join Cosmo on his #Blockchain adventures before the official launch! 🌌Don’t miss out! The clock is ticking! 📣… pic.twitter.com/QwpzWcm947

— DogeVerse (@The_DogeVerse) May 23, 2024

Dogeverse’s multi-chain status has been the key factor behind its early demand. As previously mentioned, the meme coin will launch on DEXs and CEXs in 6 different blockchain ecosystems, including Ethereum, Solana, BNB Smart Chain, Base, Avalanche and Polygon. 

Investors appear to be excited about this strategy, considering it bodes well for the token’s brand awareness and adoption after its launch. 

The project has also launched a Dogeverse Bridge using wormhole technology, which allows holders to transfer their tokens from one chain to another. This allows them to benefit from the best features of each blockchain, such as Solana’s low trading fees and Ethereum’s staking rewards. 

Is Dogeverse Legit or a Scam?

The Dogeverse developer team appears to have taken several steps to eliminate common security concerns associated with new meme coins. 

For instance, the Dogeverse smart contract has been audited by Coinsult, which did not reveal any medium or high security risks. The owner of the contract cannot engage in malicious activities, such as miniting new tokens, blacklisting addresses or pausing the contract. 

The audit has also ensured that Dogeverse is not a honeypot token - a common tactic used by scammers in which investors cannot sell their tokens or can have their balance altered. 

The buy and sell tax for Dogeverse are also 0%. 

Dogeverse has functioning and thriving X and Telegram accounts, often a mark of a legitimate project. The X account has over 24k followers while its Telegram group has close to 17k members. 

The project’s X account also started in April of 2024, which means that it is not a scam profile masquerading as a new project. 

In the spirit of transparency, Dogeverse has also revealed its office address as well as provided an additional email address for contact. Scam projects typically do not reveal such information. 

The developer team has also published the project tokenomics on its website, which reveals no separate allocation for the developer team or any private sale. This reduces the risk of pump-and-dump price action after the token’s launch. 

The developer team has also taken robust security measures with the Dogeverse presale platform, building it on the back of Web3Payments technology. This ensures that the purchase information of presale buyers is stored safely on-chain. 

The meme coin has also been featured in popular crypto news publications - such as Cointelegraph, Decrypt and Watcher Guru - which offers additional legitimacy to the project.

 

Sites that track crypto prices and new crypto ICOs such as CoinCodex and Coincarp have also reviewed the project, and Dogeverse appears in numerous CoinMarketCap community articles.

Popular YouTube channels - such as 99Bitcoins with over 700k subscribers - have mentioned the new meme coin in a positive light. 

Major influencers such as Cilinix Crypto have even publicly revealed that they have purchased Dogeverse during its presale. 

 

Based on the available information, it appears that Dogeverse is a legitimate project that has taken stringent security measures to eliminate all major risks. 

Visit Dogeverse Website

 

Disclaimer: This is a sponsored article and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.

Elon Musk is reportedly set to advise Donald Trump on cryptocurrency policy during his election campaign to help widen his voter base and attract digital asset enthusiasts. 

Musk’s involvement could help reshape political dialogue, influence tech policy, and integrate crypto advocacy into Trump’s campaign. 

Elon Musk To Advise Trump Election Campaign 

According to several reports, discussions between Trump and Musk representatives are ongoing, with campaign strategists also contemplating inviting Musk to speak at the Republican convention. However, sources close to the developments have stated that no final decision has been taken as of now. Trump’s campaign sees Bitcoin and other digital assets as a way to attract new voters. Trump spokesperson Brian Hughes stated, 

“Many of the nation’s most important leaders in technology and innovation are concerned with the damage done to their industry by Biden’s failures.”

If Musk’s involvement in the Trump campaign is confirmed, it could have a profound impact on the ongoing political dialogue thanks to his influence on tech and active engagement in political matters. The discussions with Musk come after Trump threw his weight behind Bitcoin and the crypto market, stating that innovation must take place in America. 

“I am very positive and open-minded about crypto companies. Our country must be the leader in the field. There is no second place.”

Talks between Musk and Trump reportedly also involved ways in which the Tesla CEO could take on an advisory role should Trump be elected for a second term as president. However, the exact nature of such a role is still being discussed. 

Trump’s Crypto Pivot 

Donald Trump has received considerable support from the crypto industry, with industry leaders attempting to raise millions in donations to support his campaign and policies backing Bitcoin. Speaking at a Libertarian Party convention last week, Trump stated he would ensure that the future of crypto and Bitcoin will be decided in the USA and that he would support the right to self-custody for the nation’s crypto users. 

The Republican presidential candidate also vowed to commute the sentence of Silk Road founder Ross Ulbricht if elected as president. Trump has been incorporating more crypto-friendly speeches and messages in his campaign as he looks to appeal to voters who prioritize positive regulation and technical innovation. 

Musk Deflects Questions About Trump Campaign 

In a late update, Elon Musk denied reports he is discussing crypto with Trump but added that he generally favors things that shift the balance of power from the government to the people, something that crypto does. Musk stated, 

“Pretty sure I’ve never discussed crypto with Trump, although I am generally in favor of things that shift power from government to the people, which crypto can do.”

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Blockchain Australia, the nation's peak blockchain and digital asset association, is preparing to host its annual conference, Blockchain Week 2024. The four-day event, themed “The Digital Convergence” will take place from June 11th to 14th in multiple iconic venues across Sydney, coinciding with the Vivid Sydney festival. 

A Closer Look at the Adoption Surge

Cryptocurrency ownership in Australia has surged in past years. Insights from a recent Swyftx survey shed light on the demographics driving the growing popularity of digital assets in the region. The number of cryptocurrency holders has jumped from 3.4 million in 2021 to around 4.5 million in 2023. Millennials, in particular, have seen adoption rates rise from 35.6% to 40.7%. 

According to Swyftx, one reason behind the surge is that many Australians are curious about the tech behind crypto. It's not just about making a quick buck anymore; people are genuinely interested in understanding blockchain and crypto's potential. Second, people look to grow their wealth beyond the usual stocks and property, and crypto's past successes (think Bitcoin!) are turning heads.

Third, major cryptocurrencies like Bitcoin and Ethereum are increasingly accepted by more businesses and used for everyday purchases, which shows trust and successful daily life integration. Fourth, the region’s authorities are working on clear rules for crypto, which helps build confidence in it as a legitimate investment, while numerous educational programs shed light on both the benefits and risks of crypto. 

Blockchain Week 2024: Highlights

Supported by Crypto.com, Take3, Chainanalysis, Protocol Theory, and Swyftx, Blockchain Week 2024 brings together business leaders, tech entrepreneurs, policymakers, investors, blockchain enthusiasts, as well as DLT builders and innovators.

During the four-day event, speakers and industry leaders will deliver keynotes on the most trending topics from the Web3 space:

Government Address: Dr. Andrew Charlton MP

Industry Insights: Jonathan Inglis, Protocol Theory

Blockchain Builders Panel: Helen McHugh, ACS

Cloud Infrastructure: Dongliang Guo, Alibaba Cloud Intelligence

Financial Technology: Effie Dimitropoulos, Novatti

Payments: Ashima Chaudhary, Mastercard

Digital Assets: Vakul Talwar, Crypto.com

Custody: Julian Sawyer, Zodia Custody

AI and Web3: Caroline Page, Virtually Human

Tokenisation: Lisa Wade, DigitalX

Payments: Rob Allen, Australian Payments Plus

Digital ID: Verida

Digital Currency Exchanges: Jamie Elkaleh, Bitget

Day one of Blockchain Week 2024 will explore DLT's role in building the digital economy, showcasing real-world use cases and cryptocurrency ecosystems, with an evening networker to foster collaboration. Day two offers expert insights into digital assets for the financial industry and regulations and ends with a celebration of Blockchain Australia's 10th anniversary.

By this point, the conference is in full swing: day three features engaging discussions on navigating digital convergence, while day four utilizes an "unconference" format across Sydney for interactive conversations at multiple venues. The final night brings an afterparty merging the digital and artistic revolutions. 

A Digital Asset Breakfast and Q&A session at Parliament House and an Anniversary Gala Dinner will provide networking opportunities to connect with industry leaders. 

Blockchain Australia's Vision for a Blockchain-Powered Future

While Australia's digital economy is rapidly expanding, navigating the intricacies of blockchain and distributed ledger technology (DLT) is crucial for businesses looking to leverage the technology effectively. Blockchain Australia acts as Australia’s peak industry body for businesses implementing or evaluating blockchain or distributed ledger technology while fostering community and industry partnerships to advance blockchain adoption.

The vision? To propel the region to the forefront of global blockchain development, which usually translates to working with industry leaders and government bodies and fostering an environment that embraces innovation. By organizing events like Blockchain Week, The Blockies, and Policy Forum, Blockchain Australia enables industry players to exchange knowledge, collaborate, and propel the country’s position as a major DLT player on the global stage. 

Visit the Blockchain Week website (https://blockchainweek.com.au) to keep up with the updates and secure your spot at the event.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

In a recent poll on the role of crypto in the US 2024 Presidential election, nearly half of the voters polled declared that they expected to include crypto in their portfolios.

Spot Ethereum ETF approval even took SEC by surprise

The approval of the Spot Ethereum ETFs took many by surprise, including, if rumours are to be believed, the Securities and Exchange Commission (SEC) itself. With only three days to go before the deadline for the decision, applicants had still not been contacted by the SEC to ask the customary questions on their proposed funds. However, something drastic must have changed Chairman Gary Gensler’s mind at the last minute, and all the ETFs were then approved at record speed.

What could have caused this change of mind for an SEC chair who, throughout his tenure, has made absolutely no secret of his dislike for crypto?

It was doubtless a call from someone within the Biden administration (also extremely anti-crypto) who possibly told Gensler to get the Spot Ethereum ETFs approved in short order. 

Crypto becomes an electoral red-hot potato

Of course, a court date would almost definitely have been made by certain parties who would have taken the SEC to task in a court of law in order to ask why they would not approve these funds, and the SEC would have been batting on a very sticky wicket indeed, given the terrible drubbing they received from Grayscale in the case for the Spot Bitcoin ETF approval.

However, it most probably wasn’t even this that prompted the presumed phone call from the Biden administration. It was simply that it had probably finally sunk in that crypto was going to be a red-hot potato in the coming election, and that if you got on the wrong side of this, you would be facing certain defeat.

Senator Elizabeth Warren must have been choking on her dry toast, when she was informed of the radical 180 degree turn in an administration policy of which she herself was the principal architect.

Grayscale’s Harris Poll shows how interested voters are in crypto 

Harris Poll recently organised a survey, sponsored by Grayscale, which tested voters’ opinions on crypto, and the effect this could have on the upcoming US presidential election.

It was discovered that two important events had certainly registered with voters, and these were the Spot Ethereum ETF approvals, and the Bitcoin halving.

According to the survey, nearly 1 in 3 voters had been prompted to become more interested in Bitcoin or crypto after the Spot Bitcoin ETF approval. Also, nearly half of them (47%) expected to include Bitcoin and/or other cryptocurrencies in their portfolios.

It also appears that the very negative stance on crypto taken up to now by the Biden administration, has not been particularly noticed by voters, given that crypto ownership among Democrats and Republicans is practically equal, and the voters polled do not see which party is the more favourable towards crypto.

Inflation and the economy are uppermost

On the subject of which issue most concerned US voters, inflation, followed by the economy, were seen to be the most worrying. Given that Bitcoin and crypto certainly fit into the financial scene, this new asset class is certain to play a major role in the November election.

With 62% of Gen Z and Millennial voters believing that crypto and blockchain technology are the future of finance, how the Republican and Democrat candidates treat this subject is likely to be crucial.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

In a new blog post, Vitalik Buterin highlighted the unique role L2s play within the Ethereum ecosystem, fostering the creation of independent sub-ecosystems that still contribute to the broader Ethereum network.

Buterin Highlights Organizational Distinctions

Ethereum co-founder Vitalik Buterin recently described Layer 2 (L2) protocols as a cultural extension of Ethereum. He emphasized the primary distinction between Layer 1 (L1) and Layer 2 protocols is organizational rather than technical. He argued that blockchains are shaped by their cultural values in addition to their technical frameworks. This perspective shifts the focus from what can be built to what will be built based on how different parts of the ecosystem are structured and how these structures influence incentives and actions.

Subcultures within Ethereum

The Ethereum ecosystem hosts various subcultures, each playing a distinct role. Buterin referenced researcher Paul Dylan-Ennis, who identified three main subcultures: Cypherpunks, Regens, and Degens. 

Cypherpunks engage in core Ethereum research and development, focusing on privacy software. Regens participate in activities like Gitcoin grant rounds and retroactive public goods funding, emphasizing non-financial applications. Degens, meanwhile, trade memecoins and non-fungible tokens (NFTs) and play blockchain-based games, and are driven purely by speculation and wealth accumulation at all costs. 

Pluralism and Diversity

According to Buterin, L2 protocols foster a pluralistic and diverse environment within Ethereum. They enable various subcultures to build their own communities and pioneer new technologies while adhering to some shared values and collaborating on critical infrastructure. This collaborative and diverse approach is seen as vital for the overall health and innovation of the Ethereum network.

Buterin noted, 

"It’s not about what can get built, but what will get built, because of how the lines between different parts of the ecosystem are drawn and how that affects people’s incentives and ability to act.” 

Cultural Pluralism  

Buterin advocated for cultural pluralism within the Ethereum ecosystem. He suggested that while one subculture might focus on core development, another can concentrate on expanding the edges of the ecosystem. This division of labor can help address the challenge of attracting application developers and users.

He stated, 

“Cultural pluralism is a way of getting out of this quandary, allowing one subculture to focus on core development while another focuses on growing the 'edges' of the ecosystem.”

Encouraging Competition and Collaboration

Buterin also highlighted the competitive spirit that L2s bring to the Ethereum community, noting that this competition can generate significant value. He pointed to several L2s, including Optimism, MegaETH, and Starknet, as examples of ecosystems organized around building specific projects while contributing to the larger Ethereum network.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice. 

The lines are blurring between Artificial Intelligence (AI) and the ever-evolving world of cryptocurrency. As AI integration becomes increasingly sophisticated, a new breed of AI crypto projects is emerging, each with the potential to revolutionize their respective corners of the market. 

Experts predict 10x growth for these innovative projects, and three names are at the forefront: Algotech, Bittensor, and Injective. Let's delve deeper into what makes these AI cryptos stand out.

Bittensor (TAO): Democratizing AI for Developers with a Scalable Infrastructure

Building AI-powered blockchain projects can be a daunting task, but Bittensor is here to bridge the gap. This innovative project empowers developers by providing the tools and resources they need to seamlessly integrate AI functionalities into their creations. Bittensor's secure and scalable infrastructure acts as the backbone, allowing developers to harness the power of AI without worrying about limitations.

Imagine building a DeFi protocol with built-in risk assessment or a dApp that personalizes user experiences – Bittensor makes these possibilities a reality. Their low-latency, cost-effective solutions are attracting developers in droves, evident in their recent integrations with major platforms and a flourishing community.

Furthermore, the Bittensor token (TAO) is experiencing a potential resurgence. The price is approaching the upper boundary of a descending parallel channel, suggesting a possible breakout from a prolonged period of consolidation. While previous attempts to break free have been unsuccessful, bullish technical indicators like a rising RSI and a positive MACD divergence hint at a potential reversal of fortune. 

Injective Protocol (INJ): A DeFi Gamechanger Combining Efficiency with Transparency

Injective Protocol (INJ) is shaking things up in the DeFi space. This innovative DEX built on the Cosmos blockchain offers advanced features like cross-chain margin trading, derivatives, and forex futures trading. Unlike popular AMM-based DEXes like Uniswap, Injective leverages the familiar order book model used by traditional stock and crypto exchanges. This approach aims to bridge the gap, providing the efficiency of centralized exchanges with the transparency and security of DeFi.

INJ has recently grabbed headlines with a notable price surge, breaking a downtrend that began in March 2024. The current price range sits between $28.86 and $20.21. This uptick coincides with the excitement surrounding the 150th INJ token burn event, which aims to reduce the token's overall supply, potentially boosting its market value in the long run.

However, technical indicators present a mixed picture. The Relative Strength Index (RSI) suggests a potential rise in buying pressure (bullish divergence), but broader market conditions remain volatile. Resistance sits at $31.79, with support at $20.21. As INJ carves its own path in DeFi, it will be interesting to see if it can sustain this momentum and overcome any market resistance.

Algotech: AI-powered Trading Platform with Algorithmic Prowess

Algotech isn't your average crypto exchange. It's a game-changer, leveraging the power of AI to empower traders with cutting-edge tools. Imagine a platform that analyzes market trends, identifies trading opportunities, and even executes automated strategies based on your preferences. That's the magic of Algotech. Their infrastructure, a potent mix of high-performance hardware, advanced algorithms, and vast data sets, fuels the AI engine at the heart of the platform.

The excitement surrounding Algotech is palpable. Their highly anticipated presale is nearing to completion of its final round, having already secured an impressive $5.8 million raised from investors. This innovative project is poised to disrupt the algorithmic trading space by harnessing the power of artificial intelligence.

By participating in the final bonus round, you can gain early access to this potentially groundbreaking project and position yourself for substantial returns after launch. Don't miss out on this exciting opportunity to join the future of AI-powered trading!

Why Do These AI Cryptos Have the Potential for 10x Growth?

Each of these AI crypto projects, Algotech, Bittensor, and Injective, addresses a specific need within the ever-growing crypto market. Algotech empowers traders with intelligent tools, Bittensor democratizes AI for developers, and Injective pushes the boundaries of DeFi with AI-powered derivatives. But what truly sets them up for potential 10x growth is their unwavering focus on building a strong infrastructure to support their AI capabilities. This ensures scalability, security, and a foundation for continuous development.

For more details about this project:

Visit Algotech Presale

Join The Algotech Community

Disclaimer: This is a sponsored article and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.

 

Former President Donald Trump recently expressed an open-minded attitude towards cryptocurrency. This development comes at a time when the crypto market is experiencing significant movements. While this happens, Algotech (ALGT) attracts investors who are racing to buy the token before the presale ends. Could this newcomer make it to 2024’s top ICO list backed by Trump’s support? Let’s find out.

Trump embraces crypto, calls for U.S. leadership, and criticizes Biden's stance.

Investors flock to Algotech (ALGT) for AI-powered trading and impressive returns.

From Critic to Advocate: Trump's Surprising Shift Toward Cryptocurrency

On May 26, 2024, Donald J. Trump tightened his embrace of cryptocurrency, stating on social media that he is "very positive and open-minded towards cryptocurrency companies and all things related to this new and burgeoning industry." Trump emphasized the importance of the U.S. leading in the crypto field and criticized President Joe Biden's stance on the issue.

Sentiment toward crypto in Washington has warmed up since Trump's efforts to attract pro-crypto voters, including his acceptance of crypto donations to support his campaigns. The Biden administration and the traditionally crypto-adverse Securities and Exchange Commission have softened their opposition, which is evident in the White House's recent approach to crypto legislation and the SEC's approval of key filings for ether ETFs.

This shift marks a significant change in the political landscape surrounding cryptocurrency regulation and acceptance, but could it steer newcomer Algotech (ALGT) to greater heights?

Algotech (ALGT) Presale Frenzy: From $0.04 to $0.08 with More Gains Ahead

Algotech (ALGT) is riding high on a wave of investor enthusiasm, launching a bonus presale round that's making investors sit up and take notice. Despite being the new kid on the crypto block,Algotech (ALGT) is quickly becoming a DeFi darling, thanks to its cutting-edge decentralized trading platform. With a solid blockchain foundation and a turbocharged technical infrastructure, Algotech (ALGT) promises to turn everyday traders into profit-making wizards using its AI-powered tools.

Algotech (ALGT) automates the entire trading process, making it a breeze to snag market insights and nail perfect entry points for significant gains. Plus, it smartly manages risks, ensuring your capital grows safely and steadily, making it the ideal crypto for beginners.

It's no wonder that Algotech’s presale token is the hottest ticket in town. As it heads into the public presale, it boasts dazzling returns and an anticipated 275% ROI. Early birds have already seen their investments double, with token prices leaping from $0.04 to $0.08. Investors get more than just profit potential—they receive voting rights and dividends. The excitement is palpable.

As the Algotech (ALGT) presale nears its next stage, investors can expect a 25% profit. The token aims for a $0.10 price, up from $0.08. ALGT is arguably the best crypto to invest in, so grab yours now!

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Disclaimer: This is a sponsored article and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.

 

The Bitcoin price continues its consolidatory price action on Thursday and is currently trading at $68,100 at press time. 

Crypto prices continue to show a bearish inclination as the market awaits the key PCE inflation data, set to be released tomorrow on Friday. Notably, the Personal Consumption Expenditure or PCE is the Federal Reserve’s favourite inflation metric, even more than the much-hyped CPI. 

Owing to the market uncertainty, smart money traders continue to invest in new meme coins. Tokens such as Dogeverse and Sealana are not only displaying promising price potential but also lack any major correlation with the broader market sentiment. 

Why Are Crypto Prices Down Today?

Macroeconomic risks continue to spook the cryptocurrency market as concerns regarding sticky inflation levels and high interest rates remain a roadblock to a sustainable bull rally. 

For instance, after another day of weak debt auction on Wednesday, the US 10-year Treasury Yields spiked to 4.623%, surging by 30 basis points in just two weeks. The US 2-year to 30-year yields showed a similar bounce, signalling rising macroeconomic concerns. 

Key Fed officials are also adopting a hawkish stance, with Minnesota Fed President Neel Kashkari stating that “many more months of positive inflation data” are required to start quantitative easing. He even teased more interest rate hikes, a decidedly disastrous scenario for large-cap altcoins. 

Consequently, the CME FedWatch is no longer favouring an interest rate cut in September, highlighting only a 45% possibility for the move. 

All eyes now turn to the upcoming Personal Consumption Expenditure data. As previously mentioned, PCE is the Fed’s preferred inflation measure. In the bearish scenario that the PCE misses the market’s expectations tomorrow, a larger crypto prices crash could follow. 

Key Support Levels for Bitcoin and Ethereum

The rising macroeconomic risks have thrown a wrench in May’s crypto bull rally.

Rather than trying to breach the $68k and $72k resistance levels, the bulls now need to defend the crucial $66k - $67k region. Bad PCE data could result in BTC losing this important support, which could kickstart a larger downside move to $60k. 

A boring state of mind for the markets as #Bitcoin is consolidating.Important support level approaching where it must hold $66-67K to avoid further downwards momentum to $60K.Ethereum ETF likely going live end of June, slow upwards momentum until then. pic.twitter.com/ZrBZzkhxpp

— Michaël van de Poppe (@CryptoMichNL) May 30, 2024

Meanwhile, the altcoins desperately need Ethereum to remain strong against Bitcoin. The ETH/BTC pair must hold above the 0.051 level or face increased selling pressure on altcoins. 

Crypto prices would also hope for the skyrocketing US Treasury Yields to cool down in June, without which a larger altcoin rally is out of the question. 

New Meme Coins Remain In High Demand

New meme coins lack any correlation to the broader market outlook, which makes them an excellent investment avenue during uncertain macroeconomic conditions. New rags-to-riches stories every day also help. 

For instance, the multi-chain meme coin Dogeverse is currently all the hype as it nears its highly-anticipated IEO on June 5th. 

Get ready to blast off with Cosmo! 🚀🌀⏳ #Presale ends on June 3rd at 10 AM UTC!🌐 Claim launches on June 5th at 10 AM UTC!This is your LAST CHANCE to join Cosmo on his #Blockchain adventures before the official launch! 🌌Don’t miss out! The clock is ticking! 📣… pic.twitter.com/QwpzWcm947

— DogeVerse (@The_DogeVerse) May 23, 2024

The Dogeverse presale raised over $15 million, signalling the meme coin’s promising price potential after its launch. The ICO is set to end on June 3rd, which is also contributing to the FOMO. 

Dogeverse is set to be the first meme coin to launch on 6 different blockchains, including Ethereum, Solana, Base, Avalanche, Polygon and BNB Smart Chain. 

Experts believe that this multi-chain strategy could end up being a game-changer for the meme coin’s brand awareness. After all, Dogeverse will grab the attention of all investors searching for the best Solana meme coins or the top Base meme coins. 

 

Consequently, smart money investors believe that Dogeverse could potentially deliver up to 1000x returns after its launch. 

Similarly, a new Solana meme coin - Sealana ($SEAL) - is showing strength during its ongoing presale, raising over $3 million in the first few weeks. 

 

The meme coin is on the radar of deep-pocketed investors as well as the retail crowd. Popular crypto influencers have gone as far as to call Sealana the next potential 100x meme coin.

 

Disclaimer: This is a sponsored article and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.

PayPal has officially launched its PYUSD stablecoin on the Solana blockchain, enhancing transaction speed and cost efficiency while expanding its cryptocurrency offerings beyond Ethereum.

Strategic Move Despite Solana’s Troubles

PayPal has officially launched its PYUSD stablecoin on the Solana blockchain, marking the first expansion of PYUSD beyond Ethereum. This move underscores PayPal's strategic commitment to broadening its cryptocurrency offerings following the successful launch of PYUSD on Ethereum in August 2023.

PayPal considered Solana’s significant commercial use cases before choosing it for the expansion of PYUSD. The company noted that Solana is the most used blockchain for stablecoin transfers, which supports PayPal's objective to enhance PYUSD's commercial applications. Although Solana has faced challenges with network shutdowns in the past, its efficiency and cost-effectiveness in processing transactions make it an appealing choice for stablecoin operations.

Leveraging Solana's Capabilities

Solana's integration is a significant step due to its high throughput and cost-effective transaction capabilities. By leveraging Solana, PayPal aims to enhance the efficiency and affordability of PYUSD transactions. Solana's blockchain supports up to 65,000 transactions per second at a minimal cost of $0.0025 per transaction, a stark contrast to Ethereum's 15 transactions per second and fees that can reach $50 during peak congestion.

Solana facilitates confidential transfers, ensuring transaction amounts remain private while meeting regulatory standards. It also supports transfer hooks for adding custom functionality during token transfers and memo fields for including additional information with payments. These features are pivotal for expanding the utility and use cases of PYUSD in commercial scenarios.

PayPal’s Three-Step Adoption Approach

PayPal is following a proven three-step approach to ensure the mainstream adoption of PYUSD, focusing on awareness, utility, and ubiquity.

The initial awareness phase began with the release of PYUSD on Ethereum. PayPal and Venmo apps were instrumental in introducing over 100 million US users to PYUSD, targeting early adopters who play a crucial role in spreading the word about the new stablecoin.

In the utility phase, PayPal emphasizes making PYUSD practical for everyday use. Its launch on Solana addresses this by ensuring transactions are fast and inexpensive, which are critical factors for daily financial activities. 

The final ubiquity phase aims for PYUSD to become a ubiquitous payment method integrated into conventional applications. This involves ensuring seamless and cost-effective transactions across a decentralized multi-chain architecture, promoting PYUSD as a natural part of everyday financial interactions.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice. 

In the midst of the 2024 bull run, investors are eager to find altcoins with the potential for massive gains. This guide delves into the most promising options, providing key insights for those looking to capitalize on current trends. Stay ahead in the crypto space and explore which assets could make millionaires in this cycle.

CYBRO Presale Runs Fast with 25M Tokens Already Sold Out

CYBRO is a one-of-a-kind marketplace that amplifies the native yield potential of the Blast blockchain. CYBRO offers early investors to enter the project on favorable terms by joining the CYBRO token presale.

At this stage, CYBRO tokens are available at discounts of over 2 times off their future market price, generating a generous ROI of 140%. The supply of the tokens is limited, and nearly 25M tokens have already been sold out. The earlier you buy, the bigger discount you get. Additionally, those investing a minimum of $1,000 in CYBRO during the presale will unlock weekly ETH rewards, available for withdrawal after the TGE.

Buy $CYBRO at the Best Price NOW to Secure 140% Profits

The CYBRO token will unlock cashback in CYBRO, discounted fees for trading and lending operations, staking rewards, an exclusive Airdrop, and the Insurance Program. This solid utility will set a strong base for CYBRO to rise in value post-TGE in Q3 2024.

With CYBRO, you can grow your crypto by investing in various vaults on Blast, the only Layer 2 blockchain to offer default yield for ETH and stablecoins staking. CYBRO's ultimate goal is to provide users with the highest returns possible for each strategy, while ensuring a simple and transparent interface.

Secure Your Place in CYBRO at 58% Discount Today! Offer is Limited!

Starknet (STRK) Price Overview and Prediction

Starknet (STRK) currently trades in the $1.09-$1.36 range. It saw a slight drop of 1.02% in the past week and 0.66% over the month. However, the price surged 495.34% in the last six months. While the RSI at 39.86 and stochastic at 31.96 suggest it's not oversold yet, the MACD level at -0.0088 indicates a corrective phase. Resistance stands at $1.46 and $1.73, while support is at $0.92 and $0.65.

Mantle (MNT) Price Overview: Current Status and Predictions

Mantle (MNT) is trading in the $0.94-$1.09 range. The 10-day and 100-day averages are close, around $1.00 and $1.02. The RSI is 40.93, showing weaker momentum. MNT is currently making corrective moves with a 1-week drop of -4.84% and a 1-month dip of -4.74%. However, the 6-month change is positive at 81.77%. The next key levels are $0.86 support and $1.17 resistance.

Celestia (TIA) Price Moving Towards Resistance with Positive Trend

The current price of Celestia (TIA) ranges between $8.45 and $10.25. TIA has seen a 17.53% rise in the past week and a 15.19% increase over the last month. In the past six months, the price surged by 58.31%. The price is inching towards the nearest resistance level of $11.18, indicating a potential move upwards. The RSI is at 56.23, suggesting a steady momentum. Currently, the price appears to be in impulsive moves.

Conclusion

STRK, MNT, and TIA may show less potential in the short term. However, CYBRO stands out as a unique opportunity. As an earn marketplace using the Blast blockchain, it offers a promising investment. The first release is set for Q2 2024. Early investors can benefit from favorable terms by joining the CYBRO token presale.

Site: https://cybro.io

Twitter: https://twitter.com/Cybro_io

Discord: https://discord.gg/xFMGDQPhrB

Telegram: https://t.me/cybro_io

Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.