Coinspeaker COTI V2 Launches Developer Network to Foster Privacy-Focused Blockchain Innovation

COTI V2, a privacy-centric Ethereum Layer 2 chain, has today announced the launch of its developer network (Devnet).

The much-awaited debut is a huge milestone for the Web3 ecosystem as it marks the first time garbled circuits are being used in blockchain development. For context, a garbled circuit is a cryptographic technique that allows privacy preservation within a multi-party computation (MPC) environment.

At its core, COTI’s V2 Devnet introduces a layer of confidentiality in the DApp ecosystem, allowing Web3 developers to explore countless use cases that were previously limited due to privacy concerns. Some of the fundamental blockchain functions that COTI V2 will facilitate include data sharing, verification, and multi-party computation (MPC), all while preserving users’ data privacy.

Building on this foundation, the recently launched developer network will enable rapid experimentation with COTI V2 smart contracts, which are EVM-compatible and use the Solidity language for programming.

In addition, the Devnet also supports other key DApp building tools, including a Python SDK, a NodeJS SDK, an explorer for on-chain analytics, server access, a faucet to cover gas for on-chain activity, and extensive documentation.

COTI’s Grant Accelerator Program

The announcement of COTI’s Devnet coincides with a recently launched grant program dubbed the ABC Growth Fund. COTI has already allocated 400 million $COTI tokens towards this initiative to spur innovation within its privacy-focused Layer 2 ecosystem.

According to the official press release, the ABC Growth Fund targets (A)mbassadors, (B)uilders, and (C)reators looking to leverage real-world privacy solutions to further expand the reach and appeal of blockchain solutions.

COTI’s CEO Shahaf Bar-Geffen commented on the launch of the Devnet, adding that the project is not only opening doors to the world through COTI V2 but also inviting innovators across the globe to participate in the ecosystem through the grant program:

“With our Builders program we’re inviting teams around the world to take part in COTI V2’s developer network, and share what you’re building. We have an incredible year ahead of building new things, making new partners, and growing COTI’s network.”

So far, the rollout of the Builders program is in progress; interested developers can submit their proof-of-concept (PoC) privacy-focused smart contracts to be eligible for grants between $1,000 and $100,000. This initiative is structured in four tiers based on the ascending impact on COTI’s V2 confidentiality Layer 2 ecosystem.

It is also worth highlighting that COTI V2 has already partnered with Civic, a Web3 identity management tool provider, which will use the garbling protocol to advance its dynamic decentralized identity solution.

“We have an incredible year ahead of building new things, making new partners, and growing COTI’s network,” said Bar-Geffen.

This Layer 2 chain is looking to further expand its DApp footprint with a focus on projects that are building in other niche privacy-focused areas such as Confidential Machine Learning and AI, On-Chain Sensitive Data Management, Confidential Transactions for Payments, Stablecoins and RWA, and Confidential DeFi.

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COTI V2 Launches Developer Network to Foster Privacy-Focused Blockchain Innovation

Coinspeaker Velar Partners with Build on Bitcoin to Launch PerpDex

Velar, a top Bitcoin Decentralized Finance (DeFi) innovator, has announced it is partnering with Build on Bitcoin (BoB) on an upcoming PerpDEX project.

Markedly, the pioneering BTC DeFi developer is working on the launch of Velar Artha it dubs as the world’s first Perpetual Decentralized Exchange (PerpDex). Hence, its alliance with BOB is to support the launch of the protocol on Bitlayer’s EVM-compatible Bitcoin Layer 2.

BOB Brings Its Technical Support to Velar Artha Launch

The collaboration requires that BoB provides technical support that will facilitate the development and mainnet launch of Velar Artha. This support encompasses its best-in-class developer tooling, analytics, wallets, and blockchain infrastructure. Build on Bitcoin’s presence and association with the upcoming protocol ensures that it is anchored by a proven technical foundation.

Additionally, it holds the capacity to accelerate the launch of the PerpDex. Ultimately, BoB’s role includes overseeing the security, decentralization, and UI/UX of Artha’s deployment.

“Collaborating with BOB for the launch of Velar Artha PerpDex marks a pivotal moment for us. Being one of their initial projects, the first PerpDex underscores the mutual trust and shared vision between Velar and BOB,” Velar CEO Mithil Thakore said “We’re excited to pioneer this journey together, pushing the boundaries of Bitcoin DeFi and delivering value to the Bitcoin community.”

With this upcoming addition, Bitcoin users will be able to make perpetual swaps for assets including BTC. Also, they will be able to open leveraged long and short positions.

Velar Secured $3.5M for the Artha PerpDEX Launch

Velar revealed its plan to launch the PerpDex platform earlier this year. Particularly, the Bitcoin-inclined platform secured a $3.5 million seed fund for its launch. The funding round enjoyed participation from Bitcoin Startup Lab, CMS Holdings, Black Edge Capital, GBV, Cypher Capital, Trust Machines SPV, Transform Capital, Maple Block, and Samara Asset Group. Even Alexei Zamyatin, the co-Founder of BoB, was one of the angel investors in the funding round.

The idea behind the PerpDex initiative is to tap into the substantial $800 billion dormant liquidity within Bitcoin’s DeFi ecosystem. This product will offer BTC holders similar value propositions and yields that have proven successful on the Ethereum network. Based on Velar’s plan and a recent strategic partnership, the new DEX will go live on Bitlayer which supports the Ethereum Virtual Machine (EVM).

Right after securing the fund, it was disclosed that the platform will leverage Stacks to enable liquidity for DeFi Decentralized Applications (DApps) on Bitcoin. Velar Artha is scheduled for launch later in this second quarter.

Once it is finally launched, Velar Artha will become a pioneering PerpDex within the BTC ecosystem that safely combines the security of Bitcoin with developer-friendly tooling facilitated by EVM compatibility. Institutions are guaranteed a platform to utilize their dormant BTC holdings as collateral in a non-custodial manner, a move that provides a unique avenue for institutional participation in DeFi.

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Velar Partners with Build on Bitcoin to Launch PerpDex

Coinspeaker Bitcoin Price Surge Leads to $85M Short Liquidations, $100K Coming Soon?

As the odds of the spot Ethereum ETF approval improve, Bitcoin along with the broader crypto market staged a strong recovery. Bitcoin (BTC) price surged by 7% moving all the way to $72,000 leading to more than $85 million in short liquidations, as per data from CoinGlass.

Popular crypto analyst Willy Woo noted that over the past month, the bulls have been constantly tackling overhead resistance . “1 month of Bitcoin short position build-up just got liquidated. One more layer to go in order to short squeeze past all-time highs,” he wrote.

If the Bitcoin bulls manage to break the all-time high of $74,000, then the BTC price will enter the price discovery zone opening the gates for further rally to $100,000 and more. Data shows that if the BTC price surpasses its all-time high of $74,300, it can trigger over $1.45 billion in short liquidations.

🚨$1.45 Biliion of #Bitcoin shorts will be liquidated at 74.3K

SEND IT pic.twitter.com/ItVi34PHHm

— Thomas | heyapollo.com (@thomas_fahrer) May 21, 2024

As per the popular trader Skew, the recent surge in the Bitcoin price comes on the backdrop of a strong inflow in the US spot Bitcoin ETFs over the last week. During the last week, the Bitcoin investment products witnessed inflows of over$900 million.

This shows that institutional participation in Bitcoin is back on track after a short hiatus. If these inflows continue to remain strong, they will surely propel BTC price to $100K and beyond.

Bitcoin Price Rally to $100K

Popular crypto analyst CryptoCon writes: Bitcoin remains on course to hit a layer 7 price target of $149,000 by the end of this year, according to the Log Regression Curves, a measure that accurately predicted the 2021 cycle tops.

A more conservative target of $108,000 is projected by layer 6, which marked the 2013 cycle top. A new development in this cycle is Bitcoin’s consolidation within the red bands, aligning with reduced volatility.

#Bitcoin is still on track for a layer 7 price target of 149k by the end of this year.

This is according to the most accurate measure for both 2021 cycle tops, the Log Regression Curves.

The more conservative layer 6 has a target of 108k by that time, which is the layer that… pic.twitter.com/Hg3YyZO3Qf

— CryptoCon (@CryptoCon_) May 20, 2024

Along with Bitcoin, the altcoin market is also on the way to a strong recovery after weeks of consolidation. Michael van de Poppe, a prominent crypto analyst, has observed that the altcoin market capitalization has completed its correction phase.

He anticipates the next step will be achieving an all-time high, projecting a rise of approximately 60-70% from current levels. Van de Poppe specifically highlights Ethereum, predicting it will likely reach this milestone within the next 2-4 months.

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Bitcoin Price Surge Leads to $85M Short Liquidations, $100K Coming Soon?

Coinspeaker DeBank Unveils Credit, New Authentication Tool for Web3 Users

DeBank, a cryptocurrency portfolio tracker, has introduced a new authentication system aimed at assessing the authenticity, activity, and value of Web3 users across multiple platforms. In a recent announcement on X, DeBank announced that this tool, named Credit, is now accessible directly on their platform. The Credit verification system allows users to validate their “real user” status, which includes confirming their identity and on-chain net worth.

1/4 Excited to introduce our new feature, Credit, a comprehensive system to measure the authenticity, activity and value of Web3 users. Read on!👇 pic.twitter.com/DWAbtTtL7j

— DeBank (@DeBankDeFi) May 20, 2024

This initiative is designed to boost transparency and foster trust among Web3 users who rely on the platform’s wide range of supported decentralized finance (DeFi) protocols.

DeBank Enhances Web3 Presence

DeBank has been instrumental in the crypto industry, particularly in portfolio tracking. With the launch of Credit, the company aims to further cement its position and expand its reach across different areas of the crypto economy. In 2021, the platform extended its offerings by introducing Rabby, a wallet extension tailored for DeFi users.

Rabby is capable of automatically switching between different blockchains based on user activity, such as toggling between Ethereum and Binance Smart Chain contracts.

A few years later, DeBank embarked on developing its own blockchain protocol with the goal of transforming social interactions through a new Asset Layer for Social Networks. The test phase of this blockchain was rolled out in August 2023, with plans to launch the Mainnet within this year, though the specific date has not been disclosed.

The new blockchain, built on the OP Stack Foundation, was designed to achieve three main objectives: reducing gas costs, creating an Account-Abstraction-like experience, and ensuring the safety of Layer 1 (L1) assets, all while maintaining high security standards.

DeBank has also integrated this Testnet into the Rabby Wallet, which includes a built-in gas faucet, allowing users to actively participate in the Testnet.

Web3 Economy Expected to Hit $178 Billion by 2033

Meanwhile, the launch of the authentication tool by DeBank comes at a time when interest in Web3 has dramatically improved due to market resurgence after two years of crypto winter.

In January this year, Market.us disclosed that the projected valuation of the global Web3 market in 2023 was around $4.6 billion. The market is expected to continue on this trajectory with an expected growth of $177.58 billion by the end of 2033.

According to the report, the market is poised for a remarkable surge, with a projected Compound Annual Growth Rate (CAGR) of 44.1% during the forecast period from 2024 to 2033.

In a separate report, the Web3 gaming sector recorded massive growth in the first quarter of 2024. Investments in this category stood at around $288 million.

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DeBank Unveils Credit, New Authentication Tool for Web3 Users

Coinspeaker a16z Crypto Publishes Web3 Letter Ahead of Major Regulatory Clarity in US

The Web3 industry and digital asset sectors in the United States have experienced more notable regulatory shifts in 2024 than any other year. Ahead of this year’s presidential election in the United States, more regulators seeking elective positions have inclined their agendas toward the crypto industry. Moreover, more than 50 million American citizens are investors in the web3 space and digital assets.

As Coinspeaker previously reported, Bitcoin (BTC) is fully regulated in the United States as a commodity, such as gold and crude oil. Later this week, the United States Securities and Exchange Commission (SEC) will vote on whether to approve or reject spot Ethereum (ETH) ETFs.

a16z on US Crypto Regulatory Scope

According to a recent web3 letter from a16z crypto, an established private venture capital firm in the United States, all American voters should pay attention to the Congress bill dubbed the Financial Innovation and Technology for the 21st Century Act (FIT21). Notably, the US House of Representatives will vote on the FIT21 bill by the end of this month.

As a result, a16z has requested all American crypto investors to urge their respective leaders to vote in favor of the FIT21 bill. Furthermore, the bipartisan FIT21 bill was introduced by joint efforts by the House Committee on Financial Services and the House Committee on Agriculture to ensure clarity in the cryptocurrency industry.

“The FIT21 bill establishes a regulatory framework for US digital assets markets to clarify which digital assets are regulated by the Commodity Futures Trading Commission (CFTC) and which by the Securities and Exchange Commission (SEC). This is important because of the key differences between the definitions of “commodities” vs “securities”, which have consequences for how they are regulated,” a16z noted.

Most importantly, the FIT21 bill defines decentralization in the cryptocurrency industry on behalf of American investors. According to the FIT21 bill, a crypto project will be regarded as decentralized if no single entity holds 20 percent or more of the total voting power.

Bigger Picture and Market Implications

The FIT21 bill will significantly impact most of the cryptocurrency projects if passed later this month. As for the Ethereum ecosystem, top investors, such as Tron Founder Justin Sun, have indicated that Ether is a decentralized protocol with no single entity having the majority control.

Ethereum is a decentralized protocol, and we are ordinary participants in Ethereum. We have sufficient capital to provide TVL, node verification services for Ethereum, Tron, and all other types of L2 projects to secure all blockchains. We are here for the long-term building.

— H.E. Justin Sun 孙宇晨 (@justinsuntron) May 21, 2024

Meanwhile, if the FIT21 bill passes, it will categorize Ripple Labs-backed XRP as a security asset amid the ongoing lawsuit. Moreover, Ripple Labs controls more than 40 percent of the XRP total supply, which the company uses to support its operations.

Additionally, the bill will impact most of the meme coins, with insiders and developers on the wing over 80 percent of the total supply.

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a16z Crypto Publishes Web3 Letter Ahead of Major Regulatory Clarity in US

Coinspeaker Crypto Boom: Market Surges by $200B as BTC and ETH Hit 6-Week Highs

The total cryptocurrency market cap surged to over $2.7 trillion, marking an increase of $200 billion in just 24 hours. This significant rise was driven by notable gains in Bitcoin (BTC) and Ethereum (ETH), along with positive market sentiment fueled by potential regulatory shifts.

Bitcoin (BTC) reached a multi-week peak, hitting $72,000 after several days of trading around $67,000. This increase followed the release of favorable US Consumer Price Index (CPI) numbers and further accelerated during the Monday evening US trading session. Despite a slight pullback, BTC remains above $70,000, with a market cap of $1.4 trillion.

Bitcoin ETF Inflows Continue

The inflow of funds into Bitcoin ETFs has significantly contributed to the market’s positive momentum. According to data from Farside, Bitcoin ETFs saw a substantial inflow of $237.2 million on May 20.

Leading the pack was Ark ARKB with an inflow of $68.3 million, followed closely by BlackRock IBIT and Fidelity FBTC with inflows of $66.4 million and $64.0 million respectively. This inflow represents approximately eight times the daily mined supply of Bitcoin, highlighting strong investor interest.

Ethereum Leads the Altcoin Rally

Ethereum (ETH) spearheaded the altcoin rally, driven by renewed optimism about the approval of spot ETH exchange-traded funds (ETFs) by the US Securities and Exchange Commission (SEC). The announcement is expected on May 23, but speculations of a possible approval are already influencing the market.

ETH saw a 20% jump at one point, reaching a high of $3,710, its highest price since April 9. Ether futures have also surged in popularity due to the optimistic sentiment surrounding the potential approval of spot ETH ETFs. Data from CoinGlass shows that the notional open interest, representing the total dollar value of active ether futures contracts, climbed 25% to a record $14.05 billion in the past 24 hours. This exceeds the previous high of $13.2 billion recorded in March.

Bloomberg analysts have increased the probability of SEC approval for spot Ether ETFs from 25% to 75%, citing expedited filing processes. This regulatory optimism is further supported by recent cryptocurrency-supportive legislation, enhancing the market’s bullish outlook. The potential approval of spot ETH ETFs has not only boosted Ethereum’s price but also spurred a broader market rally.

Broader Market Gains

Other major cryptocurrencies, including Binance Coin, XRP, Toncoin, Dogecoin, Cardano, Shiba Inu, Polkadot, and Bitcoin Cash, experienced gains of up to 8%. Avalanche was another standout, posting double-digit gains.

Many investors are now anticipating that the bull market conditions will persist, buoyed by the growing optimism surrounding potential regulatory approvals for spot ETH ETFs.

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Crypto Boom: Market Surges by $200B as BTC and ETH Hit 6-Week Highs

Coinspeaker Notcoin to Double Cardholder Revenue amid Hamster Kombat’s Explosive Growth

Notcoin (NOT) has announced a significant boost in passive income for its cardholders, doubling their revenue from the Notcoin card. This change, aimed at making the project even more profitable for participants, will be implemented on May 21 at 14:00 UTC.

The decision follows Notcoin’s impressive performance, where it accumulated a $1 billion Fully Diluted Valuation (FDV) after 35 million players engaged in its Telegram-based game from January to April. This success story highlights the potent combination of utility, fun, and cryptocurrency on messaging platforms.

Hamster Kombat

The latest entrant to capitalize on this winning formula is Hamster Kombat. Nikita Anufriev, marketing advisor to the project, revealed that it was launched on March 25 and reached 1 million players within 11 days. Currently, the game boasts over 8 million players, with 2.8 million daily active users and an average use time of 52 minutes per day.

Hamster Kombat draws inspiration from a mid-2010s game called USA Simulator, where players acted as politicians aiming to develop their country and extend their influence. The founders of Hamster Kombat adapted this concept to the crypto industry, allowing players to step into the shoes of CEOs of crypto exchanges, such as Binance, OKX, or MEXC.

The game’s premise is simple yet addictive. Players assume the role of well-known figures and earn points by tapping a hamster on the screen. Accumulating enough points allows players to invest in BTC and ETH pairs, yielding hourly returns. Players can also spend their points on improving security measures or acquiring valuable resources, with each action increasing their hourly profits.

One of the Hamster Kombat’s standout features is the ability for partners to buy “cards” and for players to take actions that earn more currency per hour. For instance, joining a partner Telegram channel might cost 15,000 points but pays back 3,000 points per hour, allowing players to recover their investment within five hours.

The game particularly became viral for its SocialFi overlay, which rewards players for sharing the game with friends and joining connected channels. This has led to explosive growth, with players’ friends contributing to their currency, further growing their fictional exchanges.

Anufriev noted that the game’s viral effect started with an average of three shares per player and has now increased to around 15. This was particularly evident in regions where influencers heavily promoted the game, leading to a scarcity of new players to invite. Initially targeting an influencer audience, the game quickly expanded as the network effect took hold.

Telegram, widely popular among crypto enthusiasts, has proven to be an ideal platform for Hamster Kombat. The game’s developers plan to issue its token on the Binance Smart Chain, with a target release date at the end of May.

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Notcoin to Double Cardholder Revenue amid Hamster Kombat’s Explosive Growth

Coinspeaker Bitcoin Reaches New Highs against Japanese, Argentine, Philippine Currencies

Bitcoin (BTC) climbed to an intraday and six-week high of $71,650 on Tuesday, marking a more than 7% increase in the past 24 hours. This surge has driven the crypto asset to new record levels against several fiat currencies outside the US dollar. Bitcoin has set new records against the Japanese yen, Philippine peso, and Argentine peso after recovering back to $70,000 for the first time since April.

The crypto asset is nearing its peak price of over $73,000 recorded on May 13, 2024.

Bitcoin Breaks All-Time Highs against Japanese Yuan

CoinMarketCap data showed that BTC reached a new milestone of 11.2 million yen on May 21 after briefly trading above $71,000 in the early hours of the day before retracing slightly at press time.

This marks the first time the largest crypto asset in the industry, with a market valuation currently around $1.40 trillion, has surpassed 11 million yen since its launch.

The new milestone achievement comes as the Japanese yen has weakened against the US dollar, losing 10% of its value since January. The yen’s depreciation has been influenced by various economic factors, including monetary policy adjustments and trade imbalances.

The data also indicated BTC price appreciation in Argentina. Bitcoin prices soared to a new peak of 63.8 million Argentine pesos on the same day as Japan, surpassing the previous high recorded in March.

The Argentine economy has been grappling with severe inflation, currently at an alarming 290%, alongside significant currency devaluation. These economic challenges have driven investors toward Bitcoin as a hedge against the declining value of the Argentine peso.

Bitcoin Continues to Shine against Fiat Currencies

Bitcoin also hit new highs in the Philippines, reaching a record high of 4.18 million pesos, beating the highs recorded in mid-March. The Philippine peso, like the yen and Argentine peso, has faced pressures that have contributed to the local currency’s depreciation against BTC.

Industry observer Thomas Fahrer said on X  that BTC also broke new records in countries such as the United Kingdom, Australia, Canada, Chile, Colombia, Egypt, Israel, Norway, India, South Korea, Taiwan, and Turkey.

The new milestone surpassed the highs Bitcoin recorded against local currencies in these countries in March.

In February, Bitcoin also reached new all-time highs against several currencies when it traded around $59,000 for the first time in two years. During this period, the crypto asset surpassed the Japanese yen, the Malaysian ringgit, the Indian rupee, and the new Taiwan dollar.

Additionally, in South Korea, BTC exceeded the value of the local won due to high inflation in the country. Other fiat currencies such as the Chilean peso, the Australian dollar, the Chinese yuan, the South African rand, the Norwegian krone, and the Turkish lira experienced similar declines against Bitcoin.

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Bitcoin Reaches New Highs against Japanese, Argentine, Philippine Currencies

Coinspeaker Ethereum Options Turn Bullish as ETH Price Jumps 20% on Spot Ether ETF News

In the last 24 hours, Ethereum (ETH) price has witnessed a massive run-up by 18% shooting all the way past $3,650 levels and the daily trading volume jumping by a staggering 250%.

This development came as Bloomberg analyst Eric Balchunas upgraded the odds of approval of spot Ethereum ETF from 25% earlier to now at 75%. Furthermore, the analyst also noted that the US SEC has asked exchanges like Nasdaq and NYSE to submit their 19b-4 filings. Balchunas noted that the US SEC is likely acting under political pressure since there was little engagement between the regulator and the issuers, a day before.

However, the ETF Store President Nate Geraci stated that even if the issuers submit the 19b-4 filings, the final decision regarding the registration requirement for individual funds (S-1s) would be still pending.

The SEC might approve the exchange rule changes (19b-4s) separately from the fund’s registration (S-1), potentially delaying the latter beyond the May 23 deadline for VanEck’s Ethereum spot ETF request. This approach gives the regulator more time to review and approve the necessary documents.

A Look at Ethereum Options Expiry

The share surge in the ETH price following growing interest in spot Ethereum ETF has boosted interest for the weekly and monthly ETH options expiries. For the May 24 expiry, the data at crypto exchange Deribit records the open interest at $867 million, while the open interest for the May 31 expiry is at a staggering $3.2 billion.

Similarly, the open interest for CME’s monthly ETH options stands at just $259 million, while for OKX, it’s at $229 million. The call-to-put ratio at Deribit strongly favors call (buy) options, indicating that traders are more active in purchasing them compared to put (sell) options.

If Ether’s price stays above $3,600 on May 24 at 8:00 am UTC, only $440,000 worth of put options will be relevant for the expiry. In this scenario, the right to sell ETH at $3,400 or $3,500 becomes irrelevant if it trades above these levels.

Meanwhile, holders of call options up to $3,600 will exercise their right, capitalizing on the price difference. This would result in a substantial $397 million open interest favoring call options if ETH remains above $3,600 at the time of the weekly expiry.

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Ethereum Options Turn Bullish as ETH Price Jumps 20% on Spot Ether ETF News

Coinspeaker Coinbase Derivatives to Launch Oil and Gold Futures Contracts

American publicly traded exchange Coinbase Global Inc (NASDAQ: COIN) through its Derivatives outfit is expanding its services beyond regular crypto trading by delving into the oil and gold sector.

The offering will be offered through Coinbase Derivatives with plans to officially launch its retail-sized futures contract for oil (NOL) and gold (GLD) by June 3. Consequently, these will join the existing list of Commodity Futures Trading Commission (CFTC)-regulated crypto futures on the platform.

Coinbase Derivatives Expands to Oil and Gold

Before now, Coinbase offered futures contracts on Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), Litecoin (LTC) and even dog-themed memecoin Dogecoin (DOGE). The Coinbase Derivatives decision to list oil and gold futures contracts is a significant pivot for the crypto exchange and industry at large.

In its announcement, the Brian Armstrong-led firm confirmed that while it explores this new path, crypto derivatives remain at the core of its business. Expanding to include traditional commodities in its crypto commodities is perceived as a natural expansion for the Coinbase product suite.

The American company sees this milestone as another avenue to democratize its customers’ access to a suite of financial markets. Similarly, Coinbase says it is a way of showing its commitment to providing its users with unique and innovative trading opportunities within a regulated framework.

“Our main objective in introducing new futures contracts is to provide diversified markets that facilitate price discovery and risk management,” the derivatives service provider stated.

Coinbase claimed to have seen a massive increase in demand for retail-focused products on an accessible and regulated exchange after the launch of its BTC, ETH, BCH, LTC, and DOGE futures contracts. This market outlook contributed to the move to launch the NOL and GLD futures contracts This comes in addition to the need to provide crypto investors with cross-hedging opportunities across different asset classes.

Accordingly, the new futures contracts include 10 barrels of oil and 1 troy ounce of gold. These would be offered to investors as enhanced trading opportunities in traditional markets. This service will allow users to capitalize on price movements and hedge their existing assets. Noteworthy, the service will cater to both experienced investors and retail enthusiasts.

Coinbase Pushes for Product and Geographical Expansion

Apart from the Coinbase Derivatives futures contracts listing on oil and other assets, the company announced last month that it will list BRC-20 token Ordinals (ORDI) and Worldcoin (WLD) on its global exchange.

By April 11, it began allowing users to bet on the expected price performance of the two cryptocurrencies on the Coinbase International Exchange and Coinbase Advanced.

Coinbase has not limited its expansion to products and services alone as it equally pursues diversification outside the United States where it has faced several legal challenges. It recently received a restricted dealer license from the Canadian Securities Administrators (CSA). The license grants the exchange approval to offer its business offerings in the country legally.

This is in addition to the licenses that it holds from other regions like France, Spain, and many others.

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Coinbase Derivatives to Launch Oil and Gold Futures Contracts

Coinspeaker Brazil Central Bank Plans Multi-Phased Crypto Regulations by Year’s End

Brazil’s crypto industry faces a wait-and-see approach as the central bank implements a multi-phased plan for crypto regulation. Announced on May 20, 2024, the Banco Central do Brasil (BCB) plans to finalize its regulatory proposals by the end of this year, marking a shift from the previously expected June 2024 completion date.

Brazil’s multi-phased approach follows a 2022 law that granted the BCB the authority to regulate the crypto industry.  While initial projections by Otavio Damaso, the bank’s director of regulation, suggested a swifter timeline, the BCB now emphasizes the need for a comprehensive framework.

Public Consultation Shapes Crypto Regulation

The delay in implementing regulations by the BCB results from their commitment to extensive public consultations. The first consultation, held between December 2023 and January 2024, aimed to gather input from society beyond the scope of the 2022 law. A key focus was asset segregation for virtual asset service providers (VASPs).

The BCB acknowledges the complexity of regulating the diverse crypto sector. They emphasize the importance of a solid foundation before drafting specific regulations, highlighting the need for reasonable dedication from the involved teams.

In the latter half of 2024, a second public consultation will use initial input from the public to shape the actual regulatory texts. The BCB is committed to gaining “broad support from society” to establish a robust framework.

The regulatory efforts align with a busy phase for the BCB. Currently, the bank leads the G20 Techsprint program, an international initiative investigating central bank digital currencies (CBDCs). On the domestic front, the BCB actively develops DREX, its wholesale CBDC project.

Campaign Finance Crypto Donation Ban

The BCB’s re­gulatory efforts come amidst a broader crackdown on cryptocurre­ncy use in campaign finance. The last wee­k, Brazilian authorities solidified a ban on political parties and candidate­s receiving crypto donations.

The e­lectoral court, which supports the ban, highlighted the­ importance of transparency and traceability in campaign financing. Ensuring that the­ elections are fre­e from irregular or illegal practice­s remains a top priority.

Brazil’s crypto industry faces a period of cautious optimism. Although the­ regulatory timeline has change­d, the BCB’s efforts to involve the­ public are encouraging. The coming months will be­ crucial in shaping the future of cryptocurrency use­ within the Brazilian economy.

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Brazil Central Bank Plans Multi-Phased Crypto Regulations by Year’s End

Coinspeaker Justice Mellor: Craig Wright Is Not Satoshi Nakamoto

In a landmark written judgment, Justice James Mellor has declared that Craig Wright is not Satoshi Nakamoto, the pseudonymous creator of Bitcoin, nor the author of the Bitcoin white paper. This judgment follows the conclusion of the COPA v Wright trial, which saw Wright’s claims thoroughly debunked.

Justice Mellor’s written judgment, delivered on Monday, detailed how Wright had lied “extensively and repeatedly” through the forged documents.

“Dr Wright presents himself as an extremely clever person. However, in my judgment, he is not nearly as clever as he thinks he is. In both his written evidence and in days of oral evidence under cross-examination, I am entirely satisfied that Dr Wright lied to the Court extensively and repeatedly,” he stated.

The 231-page ruling also addressed the issue of injunctive relief, a legal remedy to prevent Wright from further claiming he is Nakamoto or engaging in related legal actions. This will be further argued in a Form of Order hearing, scheduled to follow the judgment.

However, Wright’s reaction on social media is one of defiance, expressing his intention to explore options for appeal.

Community Celebrates

Mellor’s decisive ruling was met with relief and celebration within the Bitcoin community. Craig Wright, who emerged in December 2015 with claims of being Satoshi Nakamoto, has since caused significant disruption within the community. His legal actions have targeted Bitcoin Core developers, public figures, and even a Norwegian bitcoiner, Hodlonaut.

The community has long been upset by Wright’s persistent claims and subsequent legal actions, which threaten the industry’s innovation and cohesion. The Crypto Open Patent Alliance (COPA), whose mission is to protect crypto adoption and counter threats to the industry, accused Wright of forgery and later perjury. Its success in court marks a significant victory for the open-source community, as it writes:

“Today’s ruling is the result of a concerted and united effort across the entire open source community – from developers, to those who selflessly contributed to funding this important case, to all members of COPA. We look forward to developers continuing their work on Bitcoin without fear of baseless litigation.”

Mellor’s Conclusion

Back in March, Mellor had already reached the conclusion that Wright was not Nakamoto and had not authored the Bitcoin white paper. After both sides presented their evidence in a month-long trial, the judge stated:

“Dr. Wright is not the person who adopted or operated under the pseudonym Satoshi Nakamoto in the period 2008 to 2011. Dr. Wright is not the person who created the Bitcoin System. And, fourth, he is not the author of the initial versions of the Bitcoin software.”

Mellor had also imposed a worldwide freezing order on Wright’s assets worth 6 million British pounds (approximately $7.6 million) to ensure he could not move them offshore or evade costs associated with the trial. At the time of the order, COPA’s costs amounted to 6.7 million pounds.

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Justice Mellor: Craig Wright Is Not Satoshi Nakamoto

Coinspeaker Bored Ape NFT Creator Yuga Labs Ends Involvement with Cryptopunks

Yuga Labs, the creator of the popular Bored Ape Yacht Club  NFTs, is stepping back from its involvement with Cryptopunks, another prominent NFT collection well-known within the crypto industry.

The company acquired Cryptopunks in 2022 with the intention of preserving its legacy. The collection quickly became one of the most iconic and influential profile picture (PFP) series in the NFT space.

Yuga Labs even succeeded in getting Cryptopunks displayed in museums, thanks to their popularity among collectors. However, after two years of managing the project, the firm is ready to let go.

In a lengthy post on X, Garga.eth (Greg Solano), co-founder of Yuga Labs, said the company is ending all involvement with the NFT collection and is ready to make it fully decentralized to be preserved on the blockchain.

Yuga Labs  Launches New Edition of Cryptopunks

The move comes less than 24 hours after Yuga Labs unveiled the latest edition of Punks called Super Punk World on May 20. The NFTs were created by popular artist Nina Chanel Abney.

Super Punk World is a 500-piece collection that is as playful as it is profound. For our Punk in Residence collaboration – @ninachanel has created hybridized 3D sculptures that blur the lines of race & gender and reflect upon virtual versus real world identities. Read more and… pic.twitter.com/rWMraMW7Km

— CryptoPunks (@cryptopunksnfts) May 20, 2024

The new NFTs, which include only 500 pieces of artworks, were part of Yuga Labs’ attempt to integrate Cryptopunks into the art world outside the blockchain by allowing renowned artists to create new works using the Cryptopunks brand.

The move sought to connect the Web3 ecosystem with the traditional art world by teaming up with world-class artists. Abney was the first artist to sign up for collaboration, creating Super Punk World using the official Punks stamp. However, the move was not well received among members of the punk community and collectors.

Some collectors criticized the artworks meant to celebrate diversity and challenge conventional ideas about identity as “woke”, arguing that the avatars differ from what an original Punk should look like.

Yuga Labs to Airdrop NFTs to Abney Fans

In light of these developments, Yuga Labs wants to completely wash its hands off Punks, abandoning all its future plans for the collection.

However, the company plans to still help museums acquire the NFTs and educate their collectors about them.

“The only thing we intend to do is support a few museums and institutions in their quest to acquire Punks and help educate their audience about them,” wrote Garga.eth on X.

As for the Super Cool World NFTs, the company plans to distribute the artworks to fans of Abney’s work through airdrops. Yuga Labs is considering selecting users randomly for the airdrop.

The artist, known for her popular works such as those displayed at MoMA and the Whitney, was previously appointed to join the Punk in Residence program.

The initiative was created to facilitate on-chain collaborations that encourage creative experimentation within the NFT project and the broader sector.

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Bored Ape NFT Creator Yuga Labs Ends Involvement with Cryptopunks

Coinspeaker Ripple vs SEC Battle Heats Up as Agency Fights to Reveal XRP Secrets

There has been another development in the ongoing Ripple vs SEC lawsuit as the US Securities and Exchange Commission (SEC) has opposed in part to Ripple’s motion to seal evidence from the public.

Earlier, Ripple filed a motion to have the court redact evidence related to the remedies briefing that SEC filed on March 22 and other documents. The company asked to have five exhibits at issue. However, the SEC has now filed a counter-motion, asking the court to publicize Ripple’s business details in the remedies briefing.

According to Ripple, making public its financial reports, details on post-complaint XRP institutional sales, and other confidential details poses high risks to the company.

SEC Calls Ripple’s Request ‘Unlawful’

Per the US SEC’s latest filing, which was revealed on May 21, Ripple’s attempt to deny the public access to its financial and securities sales information amounts to lawlessness.

The commission quickly stated that it was not against Ripple’s request to seal some exhibits. However, issues such as financial figures and other details remain fundamental to requested remedies, the SEC added.

The SEC believes that if the court grants Ripple’s redaction request in its entirety, then public information that could be key to the court’s decisions in the remedies phase would be hidden. The commission also added that that move would also affect the court’s understanding of the public and the amount of penalties to pronounce.

According to the US SEC, the amount of Ripple’s current assets, for instance, could help to determine the penalty amount. Also, Ripple’s recent sales will be relevant to injunctive relief and penalties. Revenues and expenses are vital to disgorgement, while the size of discounts to some institutional investors will be used to understand the gravity of harm to investor harm.

SEC’s Latest Filing

After its arguments, the regulator further pointed to how Ripple has failed to show convincingly how making these details publicly available could cause any harm. Furthermore, the SEC argues that the financial details and other information are old, with most already available to the public. Therefore, it does not exactly make any sense that Ripple continues to rely on sealing these pieces of evidence.

XRP Price Jumps

Meanwhile, it might be worth noting that the Ripple-related token XRP is unbothered by the SEC’s latest filing. Its price climbed 5% in the past 24 hours and is currently trading at $0.535. Interestingly, its trading volume has also increased by over 150% within the same period. This indicates an increase in interest and user activity around the token.

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Ripple vs SEC Battle Heats Up as Agency Fights to Reveal XRP Secrets

Coinspeaker Binance Research: Token Unlocks to Hit $155B by 2030

Recent data from Token Unlocks confirm a significant trend in the crypto industry. Many tokens are entering the market with low circulating supplies but high valuations. This market structure raises concerns about the sustainable upside for traders after Token Generation Events (TGE). A report by Binance Research revealed that up to $155 billion worth of tokens is expected to be unlocked from 2024 to 2030, highlighting the risk of substantial selling pressure unless there is a corresponding increase in buy-side demand and capital flows.

Understanding the Market Dynamics

Looking at market capitalization to Fully Diluted Valuation (FDV) ratios, tokens launched in 2024 have a huge portion of their supply yet to be released. Many recently launched tokens have low circulating supplies, often below 20%. This low float, combined with high FDVs, explains why many new tokens have such high valuations comparable to established Layer-1 or DeFi tokens, despite lacking proven user traction.

For these tokens to keep their prices stable over the next few years, about $80 billion in new investments would be needed to balance the increased supply. This is a tough challenge, especially with market fluctuations.

Several factors have contributed to this trend. An influx of private capital has driven aggressive valuations, and optimistic market sentiment has supported these high valuations.

Implications For Investors and Project Teams

The current market conditions require investors to be more selective. To navigate this environment, investors should focus on a few key areas. It’s important to analyze unlock schedules and vesting schedules to understand potential increases in supply and the resulting selling pressures.

Comparing valuation ratios, like FDV/revenue and FDV/Total Value Locked, to those of competitors and past data can provide better insights than looking at FDV alone. Assessing the project’s stage of development and signs of market fit, such as daily active users and transaction volume, is also crucial. In addition, the skills of the project team and the level of community involvement are important factors in determining future success.

Project teams, on the other hand, need to be mindful of their tokenomics design. Balancing the initial supply with future unlock schedules is crucial to avoid sudden selling pressure. Transparency in how tokens will be released can help build trust with investors.

Focusing on the fundamentals is also key. Projects should ensure their products are well-developed and meet market needs. Strong user engagement and a solid team can attract and maintain investor interest.

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Binance Research: Token Unlocks to Hit $155B by 2030

Coinspeaker HashKey Global Lists Toncoin (TON) amid Growing Ecosystem Hype

HashKey Global has officially announced the listing of Toncoin (TON). To mark this milestone, HashKey Global is collaborating with the TON Foundation to host a community giveaway campaign featuring a prize pool of 5,000 TON and 100,000 HSK.

All eligible participants can earn 1 TON and 20 HSK through this campaign. The campaign coincides with the Genesis Trading Campaign, which offers additional HSK rewards based on trading volume. This announcement has stirred excitement in the growing TON community.

HashKey Community Giveaway Campaign Details

To be eligible, users are to register via the referral link that is provided on the network. Registration is deemed mandatory to participate. The campaign, which operates on a first-come, first-served basis, rewards the first 5,000 users who complete all tasks with 1 TON and 20 HSK.

All deposits and withdrawals will be facilitated via the TON network. The TON deposits as well as withdrawals open May 20, at 04:00 (UTC). Meanwhile, TON/USDT Spot Trading opens May 20, at 10:00 (UTC).

As per the campaign rules, new users can join by registering on HashKey Global via the referral link and completing their first trade before June 03, 2024, 10:00 (UTC). Those who earn rewards will be credited at the end of the campaign. The recipient’s spot account will be credited within 10 days.

In all, HashKey Global reserves the right to interpret campaign terms and issue further announcements as needed. Therefore, participants are expected to follow all campaign rules and guidelines. If the Hashkey team considers any activity as inconsistent with the rules or harmful to other users, it will result in disqualification and forfeiture of rewards.

Such activities include but are not limited to the creation of multiple accounts or engaging in fraudulent activities.

HashKey Global’s Engagement with the Toncoin Ecosystem

HashKey Global’s listing of Toncoin and the accompanying community campaign marks an opportunity for users to engage with the TON ecosystem and earn rewards while participating in the dynamic world of cryptocurrency trading.

Users need to complete all tasks in the TON community bot. Immediately after registering on HashKey Global, and they also need to execute a first-time trade of any amount.

Toncoin is the native cryptocurrency of The Open Network. It is a scalable and secure blockchain platform originally known as the Telegram Open Network. Developed by the TON Foundation and an independent community since 2020, the platform supports various Decentralized Applications (DApps), digital payments, and secure communication.

The TON blockchain aims to provide a user-friendly ecosystem with use cases including staking, voting, gas fees, and payments for services like TON Services/TON DNS, TON Proxy, and TON WWW.

With a strategic partnership with Telegram, TON has the potential to reach over 55.2 million daily active Telegram users, many of whom are active in the crypto space.

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HashKey Global Lists Toncoin (TON) amid Growing Ecosystem Hype

Coinspeaker Popular Meme Coins Can See Up to 80% Correction, Analyst Predicts

So far this year in 2024, meme coins have enjoyed a strong run-up in comparison to other crypto market sectors. Even when the Bitcoin and altcoin market rally paused since April, the meme coin rally has continued backed by the recent catalyst provided by meme stocks like GameStop Corp (NYSE: GME) and AMC. However, as per some of the market analysts, the meme coin party could be ending very soon. This is especially true for meme coins like Pepe (PEPE) which have given multi-fold returns in a very short period of time.

A crypto analyst who navigated the 2023 cryptocurrency surge anticipates a downturn for meme coin PEPE.

Pseudonymous analyst DonAlt, addressing his 553,800 followers on the social media platform X, suggests that PEPE might be poised for a significant decline. He observes that PEPE recently experienced a false breakout to new all-time highs before descending below its range high of $0.000009959.

In technical analysis, such a false breakout typically indicates a bearish trend, indicating that sellers are surpassing demand. The market analyst added:

“Fell below the previous highs. For now, that looks like a false breakout. As long as that’s not reclaimed, that’s a bearish chart. If reclaimed, that’d be quite bullish but only then.”

As of press time, PEPE is trading 2.14% up at a price of $0.000009359 with a market cap of $3.94 billion. It is currently the third-largest meme coin after Dogecoin (DOGE) and Shiba Inu (SHIB).

Meme Coin Dogwifhat (WIF) Flashes Bearish Signal

Another meme coin that DonAlt is currently bearish on is Dogwifhat (WIF). Regarding the meme coin WIF, DonAlt suggests the altcoin remains bearish unless it manages to reclaim a crucial price level.

“Approaching the range low once more. Still exhibiting strong bearish signals. Improvement would be seen if it surpasses $2.77 or falls below $2”. As of press time, WIF is trading 6.54% up at a price of $2.71 i.e. very much close to its breakout resistance levels.

Assessing the wider meme coin landscape, DonAlt anticipates significant devaluations across the altcoin sector, drawing insights from previous market cycles.

“If I’m right, the popular memes we trade today will trade 80%+ lower. Then you’ll have new memes come up that build new communities that run up. And we’ll have the same discussions in a couple of years. Why am I saying that? Because we’ve gone through this exact scenario a hundred times in crypto history already. If the meme top isn’t in, it will be eventually. And then you’ll get a 90% nuke on all of them, even the most ‘blue chip’ memes (lol) that exist. It repeats every cycle,” the analyst noted.

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Popular Meme Coins Can See Up to 80% Correction, Analyst Predicts

Coinspeaker Panasonic to Use DCJPY Crypto for Tourist Passes in Japan

Japanese multinational electronics giant Panasonic has announced plans to use the DCJPY cryptocurrency for tourist passes. The company hopes that tourists will be able to use DCJPY for an unlimited number of rides on buses and trains for a fixed fee. The plan will also accommodate restaurants, stores, and several other recreation sites and tourist attractions.

Panasonic Is Using DCJPY Powering Tourist Passes

The experiment includes participation from DeCurret, the organization responsible for DCJPY, IT consultancy firm TIS, SocioFuture, and Au Financial, a subsidiary of one of Japan’s 20 largest companies by market cap, KDDI Telecom.

According to reports, the plan is to use a smart contract to distribute payments among merchants or receivers of the tourists’ payments. The tourist pass would be issued as a non-fungible token (NFT). Nonetheless, it would sell for a fixed amount for an unlimited number of rides.

The smart contract will calculate the tourist’s usage of the pass from the time of purchase. Where the tourist does not travel much, the amount paid may surpass actual usage. When that happens, the smart contract automatically calculates the amount payable to each transport company and uses the remainder to grant tourist points. Tourists may then use these points for discounts at several places during their holiday.

On the other hand, the tourist may travel more than the cost of the pass. If this happens, the smart contract pays each company pro rata, using the proportions of the tourist’s travels via each company. This method significantly removes the need for calculations and human administration and uses automation to quickly pay the transport companies. In addition to simplifying travel plans for tourists, the plan is to automatically reward anyone who introduces a buyer.

The DCJPY Asset

DCJPY is a digital currency from Japanese digital currency and electronic payments company DeCurret Holdings. According to a whitepaper published last October, the plan is to launch DCJPY in July this year.

The digital asset is managed by Japanese institutions in the Financial Zone and Business Zone. The whitepaper notes that banks in the Financial Zone will mint bank deposits as cryptocurrencies on a blockchain. The aim is to improve fund management and identity verification using expert knowledge of the banking business, as well as the high security inherent in blockchain technology. This incorporates Web3 with the existing financial infrastructure.

On the other hand, the Business Zone can issue NFTs, Governance Tokens (GTs), and Security Tokens (ST) on the blockchain while setting the terms of their issuances. Using smart contracts and DCJPY, institutions can automate payment settlements and commercial operations. The platform also boasts interoperability, allowing the integration of external systems and blockchains to support collaborations across businesses and organizations.

DeCurret’s publication does not mention any organizations in the Financial or Business Zones. However, DeCurret noted the involvement of about 70 Japanese organizations in 2021. Some names include Japan Post Bank Co Ltd., East Japan Railway Co, Kansai Electric Power Co Inc., and Nippon Telegraph and Telephone Corp.

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Panasonic to Use DCJPY Crypto for Tourist Passes in Japan

Coinspeaker Ripple vs SEC Settlement Could Propel XRP to $18, Analysts Say

The XRP community is e­agerly awaiting a potential agree­ment betwee­n the US Securities and Exchange Commission (SEC) and Ripple Labs. This deve­lopment, recently highlighte­d by CryptoGeek on a social media outle­t, has created a stir in the cryptocurre­ncy market, leading expe­rts to foresee a notable­ rise in XRP price to $18.57.

🚨BREAKING: SEC OFFERS SETTLEMENT WITH RIPPLE CEO – $18.57 PER #XRP!! 🚨🚀 pic.twitter.com/ttm9Ksx606

— CryptoGeek (@CryptoGeekNews) May 20, 2024

The prolonge­d legal confrontation betwee­n the SEC and Ripple has overshadowe­d XRP’s market performance. Eve­n though a 2023 court ruling determined that XRP is not a se­curity, the continuing legal procee­dings have introduced a sense­ of unpredictability among investors. Howeve­r, reaching a conclusive agree­ment could trigger a substantial increase­ in XRP’s price.

In a re­cent interview with Fox News, Crypto influencer Ben Armstrong pointe­d out the possibility of exponential growth in XRP’s price­ once the legal unce­rtainties are resolve­d. This perspective is in harmony with CryptoGe­ek’s forecast that XRP could soar to $18.57.

🚨BREAKING: Bitboy sources confirm in a Fox News interview that the SEC and Ripple have reached a settlement! #XRP is expected to see a big price increase. The top DeFi token on the XRPL, CTF token, could rise from 0.97 XRP per token to 374.25 XRP per token.The CTF token… pic.twitter.com/6Z05BztLdf

— 𝓐𝓶𝓮𝓵𝓲𝓮 (@_Crypto_Barbie) May 19, 2024

XRP Volume Surges 60% amid SEC Settlement

While the current price of XRP sits at $0.5114, a slight dip of 0.61% in the last 24 hours, trading activity paints a different picture. A surge of 63% in 24-hour volume signifies heightened market interest. This suggests XRP’s potential price surge if the settlement materializes and XRP is definitively classified as a non-security.

The potential ramifications of the SEC settlement extend beyond XRP. The CTF Token, a prominent player on the XRP Ledger (XRPL), has also garnered attention. Analysts speculate that the CTF Token could experience a meteoric rise, reaching a projected value of $1937, despite its smaller market share compared to XRP.

This bullish outlook stems from the anticipated growth of the XRPL itself. The platform is poised to handle a staggering $1 trillion in DeFi transactions, solidifying its position as a key player in the evolving decentralized finance landscape. As the sole DeFi token in the XRPL’s top 10, the CTF Token’s performance is being closely monitored by investors seeking to capitalize on the XRPL’s potential.

The Final Countdown

The le­gal battle betwee­n the SEC and Ripple is approaching its final stages. Both side­s have presente­d their final arguments concerning the­ remedies, and the­ current day is the last chance to submit any counte­rarguments regarding the re­quests to keep ce­rtain details private.

The judge­ is anticipated to make a decision on the­se requests soon. This de­cision will determine if ce­rtain parts of important documents will be shared with the­ public, with sensitive information remove­d, within two weeks.

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Ripple vs SEC Settlement Could Propel XRP to $18, Analysts Say

Coinspeaker Mercuryo Debuts First On-Ramp for Notcoin (NOT) on Tonkeeper

Mercuryo, a fintech platform focused on providing financial services, has introduced the first on-ramp service for Notcoin (NOT) on Tonkeeper. As a result, users now have direct access to the digital token of the popular Telegram-based game, which currently has a whopping 35 million players.

Notcoin debuted on The Open Network (TON), a leading layer 1 blockchain, last week. The token is available for purchase in Tonkeeper, a self-custodial wallet within the TON ecosystem. Interestingly, the integration of NOT with Tonkeeper Battery, a new service designed to eliminate costly gas fees, has enhanced the accessibility for users of the wallet.

“We are delighted to be the first to provide on-ramp services in Tonkeeper for the launch of Notcoin,” stated Aviessa Khoo, Executive Director, Singapore, at Mercuryo. “The popular Notcoin game has already attracted millions of users across the globe, and we anticipate a ready uptake for our service among its growing user base.”

A User-Friendly Initiative

Notcoin holders accumulate NOT tokens while advancing up the global leaderboards of the game. Players of this viral Web3 clicker game can use NOT for in-game purchases such as cosmetic upgrades or to change the game’s background.

The game, which has seen a peak of six million daily active users, is a social clicker game developed by Open Builders. Players collect Notcoin and compete on a global leaderboard divided into different tiers, from Silver league to Diamond league. Additional tokens can be earned by completing quests, which typically involve actions such as following a Twitter account or joining a Telegram community.

Tonkeeper Battery is a groundbreaking innovation aimed at making blockchain more accessible to the mass market. It addresses one of the biggest challenges for newcomers: understanding and paying gas fees.

Tonkeeper Battery automatically covers these fees and can be charged with any digital asset in a single click, making the onboarding process seamless. This feature gives Tonkeeper users a significant advantage in the digital economy.

“Mercuryo is a fantastic platform that has been trusted by Tonkeeper users for over two years now. With Battery, the accessibility of Mercuryo is even greater because users can trade their Notcoins immediately without needing to purchase Toncoins first to pay for transaction fees. This demonstrates how Battery and Tonkeeper help all the services in TON, and in this case, Mercuryo, to offer better conversion rates and a more user-friendly experience,” Oleg Andreev, CEO of Ton Apps Group, said.

Mercuryo is an innovator and first-mover in the rapidly evolving Web3 space, offering intuitive solutions that simplify the digital token experience for newcomers. The platform specializes in efficient capital flow across decentralized finance (DeFi), GameFi, and SocialFi ecosystems, integrating seamless payment solutions into a single interface.

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Mercuryo Debuts First On-Ramp for Notcoin (NOT) on Tonkeeper