SINGAPORE – 13 September 2024 — EMERGE Group, a commercialisation partner and marcom firm, is proud to announce its latest partnership with GEDA, a leading Web3 gaming platform, for the upcoming Web3 Fiesta held in Singapore at Robertson Walk on 19 September, 6.30 pm. Along with EMERGE Group and GEDA, the Web3 Fiesta event is jointly co-hosted by DTC Group, a prominent Web3 incubator and accelerator, and Avocado DAO, a premier Web3 gaming guild. 

This announcement follows the resounding success of EMERGE Group’s recent Web3 Fiesta IP event at Korea Blockchain Week (KBW), which attracted over 1000 attendees over the full-day event, solidifying EMERGE Group’s position as a key player in the global Web3 space.

The Singapore Web3 Fiesta event, co-hosted by EMERGE Group, GEDA, DTC Group and DIFY, is set to be a premier event during Token2049 and will feature insightful discussions with industry leaders, lively networking sessions and exclusive previews from upcoming GameFi projects. 

The EMERGE Group and GEDA Partnership

In conjunction with the Web3 Fiesta collaboration, EMERGE Group and GEDA aim to drive innovation in the rapidly evolving sectors of GameFi and Esports. By combining EMERGE Group’s extensive IP network, robust Web3 marketing support, and proven go-to-market strategies with GEDA’s expertise in hosting popular Web3 games like MATR1X FIRE, the partnership is set to onboard a new wave of Esports enthusiasts into Web3 gaming.

“We are thrilled to join forces with GEDA for our popular Web3 Fiesta event,” said Terry Tang, Regional Business Development and Partnerships Director at EMERGE Group. “This partnership is a significant step forward in our mission to shape the future of GameFi and Esports, creating new opportunities for gamers and developers alike in the Web3 ecosystem.”

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​Imagine a world where multichain d’App development is effortless, blockchains interact seamlessly, liquidity flows securely between Ethereum, Bitcoin, and other chains, and communities unite rather than divide. This is the future we’re exploring on Chain Fusion Day, powered by Internet Computer.

Chain Fusion Hub, powered by ICP (Internet Computer Protocol), is an exclusive event series that brings together the strongest builders from across different chains on a mission to create the interoperable Web3 future. 

Held over two days at The Fullerton Hotel, an iconic neoclassical landmark of the city-state, the Singapore edition of the event series coincides with Token2049/Asia Crypto Week as well as Singapore’s signature Formula One Night Race.Chain Fusion Hub will bring together leading experts and industry figureheads, as well as institutional and governmental leaders, to share their insights and collaborations around the industry’s most innovative and groundbreaking solutions. 

Chain Fusion Hub @ Token2049 Singapore features two-day cutting-edge conversations from September 19-20, highlighting prominent speakers like Dominic Williams, Dfinity co-founder, Kevin Williams, Sats Ventures Founder & GP, Sunny Aggarwal, Osmosis Co-Founder and many more!Chain Fusion Hub @ Token2049 Singapore: Two Days of Cutting Edge Conversations

Day One kicks off with AI Web3 City Luncheon that explores the convergence of AI and Web3 in transforming urban living and creating smart and inclusive cities. Followed by Chain Fusion Day, with exciting presentations and panels of cross-chain solutions and collaborations, as well as the concurrently running IOV2055 which features key blockchain ecosystems from Malaysia. Day One ends with an invite-only Chain Fusion Night VIP party at a “Secret Mansion” location. 

Day Two starts off with 3 events running concurrently – AI 2049 which delves into AI in Web3 innovations and the dialogue around AI and blockchain governance; the Olympus Brunch | Bitcoin Edition which features founders, builders and investors in the Bitcoin ecosystem; as well as KillerWhales Live, the high-stakes Web3 entrepreneur reality TV show. VC<>Startup Connect: Singapore Edition run by Cointelegraph Accelerator and NewTribe Capital connects VCs and startups; RUNES 2049 by Ominity Network and RunesCC focuses on RUNES technology; while Bitcoin Hub Singapore is the biggest Bitcoin event at Token2049 week.

Day 1 – September 19th

Chain Fusion Day | Token 2049 Edition: https://lu.ma/7gbuert7 

AI Web3 City Luncheon: https://lu.ma/0w4z6ebl 

Chain Fusion Night | Secret Mansion Edition: https://lu.ma/5ybjbztb 

Day 2 – September 20th

AI 2049: Chain Reaction: https://lu.ma/ky9bpvik 

Olympus Brunch | Bitcoin Edition: https://lu.ma/2vxw0fxy 

KillerWhales Live @ Chain Fusion Hub: https://lu.ma/zlopfr4j 

Bitcoin Hub Singapore: https://lu.ma/Bitcoin_Hub_Singapore 

Check out the Chain Fusion Hub @ Token2049 luma page for the full list of events: https://lu.ma/chain-fusion-hub-at-token2049-singapore 

Other event details: 

Event Name: Chain Fusion Hub @ Token2049 Singapore

Event Type: Conference

Event Category: Physical/In-Person Event 

Event Date: Sep 19-20, 2024

Venue and exact location: The Fullerton Hotel Singapore, 1 Fullerton Square, Singapore 049178

Expected Attendees: 2000+

Start and End time of the event: 10am – 9pm

Organizer: Internet Computer Protocol 

Organizer’s URL: https://internetcomputer.org/chainfusion

Registration link: https://lu.ma/chain-fusion-hub-at-token2049-singapore

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Leading Polygon DeFi suite QuickSwap is concluding the 2024 summer, shining like a light of hope, with a series of aggressive launches and deployments focused on dominating the EVM perpetuals sector. QuickSwap is proving itself to be a beacon of the Web3 industry as it is relatively unaffected by continued challenging market conditions which have been causing setbacks for many others After capturing a significant share of the Polygon-based perpetuals scene over the last two years with its ever-popular decentralized Perpetual Exchange QuickPerps, as well as launching its massive hit podcast “The Aggregated”, QuickSwap has also recently launched an entirely new version on Polygon PoS. Garnering overwhelming community support and attention from several very influential and informed industry leaders, QuickPerps’ newest launch has the entire Web3 space and X buzzing. 

Called QuickPerps Falkor, QuickSwap’s newest and most innovative perpetuals DEX brings the best and most in-demand features to a growing user base of sophisticated on-chain margin traders. More importantly, this new perpetual exchange involved QuickSwap partnering with Orderly Network to enable zero gas trades, support up to 50x leverage, and tap into their deep liquidity. 

With major developments and expansion plans driving growth for QuickSwap, it comes as no surprise that Tron founder and industry leader Justin Sun published a not-so-cryptic X post very recently, drawing attention to the project and sparking a firestorm of positive comments from leaders around the Web3 industry leaders. One thing is for sure: the relentless, unbound, innovative, and adventurous fire-breathing dragons that are the QuickSwap community WILL stop at nothing to become leaders in all things DeFi. They are certainly living up to their frequently quoted catchphrase: “Can’t Stop, Won’t Stop, QuickSwap!” 

QuickPerps Falkor: Planning to Conquer on Ethereum Mainnet 

By both innovating its perpetuals offering to augment cutting-edge features and expanding to Polygon’s most popular PoS chain, QuickSwap is following through on its December 2023 battle plan to take over the Polygon 2.0’s thriving DeFi scene – and continue its crusade onward into new territories. 

However, QuickSwap is not just focused on building the best Perpetuals Exchange – it’s also committed to expanding its presence aggressively. With Falkor officially lined up to launch on Ethereum Layer 1, users will be able to deposit USDC directly from Ethereum onto Orderly Network to trade perpetuals with zero gas fees and up to 50x leverage. 

Whether users arrive from Ethereum or Polygon PoS, the plan is to have its users enjoying all the best of perpetuals trading on QuickPerps Falkor.

Burning QUICK Buybacks 

Refusing to limit its strategic expansion to technical advancements and business development initiatives, QuickSwap is now also on the verge of revamping QUICK’s tokenomics with a hefty burn proposal. Proposed through the QuickSwap DAO and put to vote this week by QUICK token holders, the proposal sets forth a three-month initiative where all QUICK buybacks from protocol revenue will be burned – that is, removed from the QUICK circulating supply via a send transaction to burn address. Previously issued to stakers via the Dragon’s Lair, QuickSwap’s new token burn initiative is designed to re-calibrate its tokenomics, thereby giving back to its raging community of dragons. 

With QuickSwap planning expansion to Ethereum Layer 1 on two massive fronts with its Perpetuals DEX and swap aggregator, while also preparing to significantly reduce its token supply via a massive burn initiative, the most influential voices in the EVM DeFi scene whose consistency and tenacity many are noticing and clearly showing respect for. 

At this rate, it is only a matter of time before Web3’s largest user migration takes off. QuickSwap is waiting with open arms, a lot of leverage, and clear lungs filled with fire to conquer and unite as much of Web3 as possible… Friend or Foe, you can’t help but absolutely respect what the dragon ecosystem is up to and accomplishing at large.

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Justin Sun criticizes Coinbase’s cbBTC for lacking transparency and centralization risks.

cbBTC aims to expand Bitcoin’s utility in DeFi but faces scrutiny over its model.

Despite criticism, cbBTC sees significant adoption within 24 hours of launch.

The Controversy Unveiled: Justin Sun’s Critique on cbBTC

Coinbase launched cbBTC, a wrapped version of Bitcoin designed to function on the Ethereum and Base networks, aiming to integrate Bitcoin more seamlessly into the DeFi ecosystem. However, this move was met with immediate criticism from Justin Sun, the founder of Tron, who took to X to express his concerns.

Sun’s Central Concerns

Sun highlighted that cbBTC does not offer a clear proof of reserve, raising questions about the actual backing of the token.

The absence of regular audits was another point of contention, suggesting potential risks in transparency and security.

Perhaps most critically, Sun argued that Coinbase could freeze assets at will, likening cbBTC to a “central bank version of Bitcoin,” which contradicts the decentralized ethos of cryptocurrency.

#cbbtc lacks Proof of Reserve, no audits, and can freeze anyone's balance anytime. Essentially, it’s just 'trust me.' Any U.S. government subpoena could seize all your BTC. There’s no better representation of central bank Bitcoin than this. It’s a dark day for BTC.

— H.E. Justin Sun (hiring) (@justinsuntron) September 12, 2024

Adoption Despite Controversy

Within 24 hours of its launch, cbBTC surged to a market cap of $100M, indicating significant interest and adoption despite the criticisms.

The Bigger Picture: Wrapped Tokens and DeFi

Wrapped tokens like cbBTC and WBTC are pivotal in DeFi for allowing assets like Bitcoin to be used on other blockchains, enhancing liquidity and functionality. However, they also bring forth discussions on centralization.

Trust vs. Decentralization: Wrapped tokens require users to trust the custodian (in this case, Coinbase), which some argue goes against the grain of blockchain’s trustless nature.

Security and Transparency: The debate underscores the need for robust security measures, regular audits, and transparent operations to maintain user trust.

As of early September 2024, WBTC held a dominant 96.6% market share across the Ethereum ecosystem for wrapped Bitcoin products, illustrating the scale at which these assets operate. (Source: Dune Analytics)

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Record Outflows: Bitcoin saw the largest net outflow from exchanges since May, with $750 million withdrawn in a single day.

Market Sentiment: This movement suggests a bullish trend, potentially leading to a price rally as investors move their Bitcoin to personal wallets, often seen as a sign of long-term holding or anticipation of price increases.

Bitcoin’s Exodus from Exchanges: What It Means for Investors

A New Era of Bitcoin Hoarding?

The crypto community is abuzz with the latest data indicating that approximately $750 million worth of Bitcoin was withdrawn from exchanges in just one day, marking the highest outflow since May 2024. This phenomenon isn’t just numbers on a screen; it’s a signal, a whisper in the digital corridors of finance, that something significant might be brewing.

Why the Exodus?

Security Concerns: With the increasing sophistication of cyber threats, holding Bitcoin in personal wallets, often referred to as “cold storage,” provides an additional layer of security against hacks.

Long-Term Investment Strategy: Many investors see this as a strategy to hold Bitcoin for the long term, often dubbed as “HODLing.” The belief here is that by reducing the supply available on exchanges, the price could be driven up due to scarcity.

Anticipation of Price Surge: Historical data suggests that large outflows from exchanges precede significant price increases. Investors might be moving their Bitcoin in anticipation of a rally, perhaps spurred by upcoming economic indicators or global financial shifts.

Market Sentiment and Speculation

Recent discussions on platforms like X (formerly Twitter) reflect a mix of excitement and cautious optimism. Analysts and crypto enthusiasts are dissecting this move:

The Implications for the Crypto Market

This massive withdrawal could have several implications:

Price Rally: If history is any indicator, such movements often precede price increases. The reduced supply on exchanges could lead to a price surge if demand remains constant or grows.

Increased Scarcity: With more Bitcoin held off exchanges, the narrative of Bitcoin’s scarcity could be reinforced, potentially attracting more investors.

Market Maturation: This could be seen as a sign of the market maturing, where holders are becoming more savvy about security and long-term value.

Looking Ahead

While the crypto market is known for its volatility, these outflows could be a precursor to more significant events. Investors are watching closely, with many eyes on upcoming economic reports and Fed meetings, which could further influence Bitcoin’s trajectory.

The post Bitcoin Exchange Outflows Hit Record Highs, Signaling Potential Price Rally appeared first on Cryptopress.

What is Sei?

Sei is a Layer 1 blockchain that is designed to optimize the decentralized finance (DeFi) ecosystem by providing a specialized, high-performance environment for trading and liquidity operations. It positions itself as an “order-book” blockchain, meaning it focuses on supporting exchanges, particularly those relying on order books rather than traditional automated market makers (AMMs). By focusing on enhancing scalability and improving the trading infrastructure for DeFi protocols, Sei seeks to become the backbone of the emerging financial systems in the decentralized space.

In the DeFi world, where speed, liquidity, and efficiency are paramount, Sei addresses many existing challenges in blockchain networks, such as latency issues, network congestion, and high transaction costs. Sei’s goal is to enable decentralized exchanges (DEXs) and other DeFi projects to operate with the efficiency and speed of centralized platforms, without compromising on security and transparency.

How Sei Works

At its core, Sei operates as a Layer 1 blockchain designed for high-throughput and low-latency operations. Unlike general-purpose blockchains like Ethereum, Sei is application-specific and optimizes its functionality around a particular use case: on-chain trading.

Here are key elements of Sei’s architecture:

Optimized for Order Book-based Exchanges:Unlike Automated Market Makers (AMMs), which use liquidity pools to facilitate trades, order books directly match buyers and sellers, creating a more efficient trading mechanism for certain types of assets. Sei has built an infrastructure designed to reduce slippage, enhance price discovery, and allow for advanced trading strategies.

Parallelized Processing:One of Sei’s major innovations is parallelized processing, which allows multiple transactions to be processed simultaneously. This ensures that high volumes of trades can be executed with minimal delays, even during periods of network congestion.

Native Price Oracles:Price oracles are crucial in DeFi for providing reliable external data to smart contracts. Sei integrates native oracles into its blockchain, ensuring that DeFi protocols built on its platform have direct access to real-time, trustworthy price feeds.

Front-running Prevention:Front-running is a major issue in DeFi trading, where certain actors gain an unfair advantage by executing their transactions just before larger orders are processed. Sei combats this problem through frequent batch auctioning, ensuring that all trades within a block are treated equally, preventing malicious actors from manipulating transaction ordering.

A Brief History of Sei

Sei emerged from the desire to create a blockchain that could cater specifically to the needs of decentralized finance applications, focusing on areas where existing blockchains struggled—speed, efficiency, and reliability for high-frequency trading.

Founding and Vision:The development of Sei began in 2021, spearheaded by a team of blockchain engineers and financial experts who recognized that the DeFi space was rapidly expanding but faced significant bottlenecks due to inefficient blockchains. The project’s goal was to create a blockchain that could seamlessly integrate with DEXs while maintaining a user experience comparable to centralized exchanges.

Initial Developments:Sei’s early stages focused on protocol development and creating partnerships with decentralized exchanges, projects in the DeFi space, and financial institutions interested in exploring blockchain technology. The focus on order book mechanisms differentiated Sei from many DeFi ecosystems built around AMM models.

Launch and Growth:Sei launched its mainnet in mid-2023 after several successful testnet phases where it demonstrated impressive throughput and efficiency gains over other blockchains. By focusing on niche yet crucial functionalities like high-frequency trading and real-time price feeds, Sei attracted a variety of DeFi projects to its ecosystem. Since its launch, Sei has continued to grow and is now regarded as a potential key player in the next wave of DeFi innovation.

Distinctive Features of Sei

Sei stands out in the blockchain ecosystem because of its tailored approach to solving DeFi-specific issues. Its architecture is not just focused on creating a general-purpose blockchain but rather aims to be a specialized Layer 1 for the DeFi space. Key features that set Sei apart include:

Order-book Optimization:Sei’s infrastructure supports efficient order matching, a crucial aspect for traders in DEX environments. This feature allows for more advanced trading functionalities like limit orders, which are harder to implement on AMM-based systems.

Parallelized Transactions:To combat latency and ensure faster transaction finality, Sei processes transactions in parallel, meaning multiple trades can be settled simultaneously without congestion, even in high-volume scenarios.

Prevention of Front-Running:By using techniques like frequent batch auctions, Sei ensures fair transaction ordering, which protects traders from losing profits to front-runners.

Native Oracles:Sei includes built-in price oracles, which provide secure, reliable data feeds directly into its ecosystem. This significantly reduces the dependency on external oracle providers and improves the reliability of DeFi applications operating on the platform.

Composability:Like many other DeFi platforms, Sei emphasizes composability, allowing developers to build upon existing protocols and seamlessly integrate their applications within the broader DeFi ecosystem.

Governance on Sei

Sei’s governance model follows the typical DeFi principles of decentralized decision-making. Governance tokens are distributed to users, validators, and developers, giving them a voice in shaping the protocol’s future. These token holders can participate in voting on protocol upgrades, economic parameters, and other important decisions that affect the network.

The governance framework ensures that Sei remains a community-driven project, with its users playing a crucial role in maintaining and evolving the platform.

Fact Sheet

Project Name Sei Smart Contract TBD (Check official explorer for details) Official Website https://www.sei.io Audits Ongoing, with several security audits planned Market Cap $TBD (depending on ICO performance) ICO Date Q3 2023 Documentation/Whitepaper Available on official website Social Accounts Twitter

Sei represents an exciting innovation in the DeFi space. By focusing on order-book optimization, reducing latency, and improving on-chain trading mechanisms, Sei seeks to provide the decentralized finance community with a more reliable and efficient platform. Its architectural innovations, such as parallelized transaction processing and built-in oracles, position Sei as a competitive Layer 1 blockchain in the growing world of decentralized finance.

With increasing DeFi adoption and the demand for better, faster trading solutions, Sei could play a pivotal role in the evolution of decentralized exchanges. For traders, developers, and liquidity providers, Sei offers a platform built with their needs in mind, providing a scalable, secure, and transparent environment to build the next generation of financial applications.

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VC Chains like Sei, Sui, and Aptos are leading DeFi’s TVL growth.

Despite market trends, these ecosystems are attracting significant liquidity.

Their success highlights the impact of venture capital in blockchain innovation.

Introduction to VC Chains and DeFi’s Evolution

In the ever-evolving landscape of decentralized finance (DeFi), 2024 has marked a significant shift towards what’s colloquially known as ‘VC Chains’—blockchain ecosystems backed by venture capital that are not only surviving but thriving amidst market fluctuations. Today, we delve into how Sei, Sui, and Aptos are not just surviving but leading the charge in Total Value Locked (TVL) growth, a key metric in DeFi.

According to data from X posts, Sui’s TVL has increased by over 2000% in just a year, positioning it as one of the fastest-growing layer-1 blockchains in terms of locked value.

The Surge in TVL: A Closer Look

Sei Network’s Momentum: Despite a dip in its token price, Sei’s TVL has surged by 62% in the last month, according to posts on X. This growth is fueled by native protocols like Silo for liquid staking and YeiFinance for lending, showcasing a robust ecosystem development.

Sui’s Explosive Growth: Sui has seen its TVL skyrocket to $665 million, a staggering 2000% increase over the year. This surge is driven by an influx of transactions and bridged assets from Ethereum and Solana, highlighting Sui’s growing appeal as a layer-1 blockchain.

Aptos’ Positioning: While specific TVL figures for Aptos weren’t directly mentioned, its mention alongside Sei and Sui in derivatives volume rankings indicates its competitive standing, even if its growth metrics are less explicit in the provided data.

Why VC Chains Matter in DeFi

The term ‘VC Chains’ refers to blockchain platforms that have received significant venture capital investment. This backing provides these networks with the resources to innovate rapidly, which in turn attracts more developers, users, and liquidity.

With substantial funding, these chains can afford to develop cutting-edge technology, which often leads to better scalability, security, and user experience.

The promise of working on well-funded projects with high visibility draws top-tier developers and further investment, creating a positive feedback loop.

VC-backed chains often have the financial buffer to weather market downturns, continuing development and marketing efforts that keep their ecosystems vibrant.

The future looks decentralized

The rise of Sei, Sui, and Aptos isn’t just about numbers; it’s a testament to the evolving dynamics of DeFi. These platforms are setting new benchmarks for what’s possible in blockchain technology.

The movement of assets from established chains like Ethereum and Solana to these new ecosystems via bridges like Wormhole indicates a growing trend towards a more interconnected DeFi universe.

The development of unique DeFi protocols within these ecosystems, such as Sui’s lending platforms or Sei’s staking solutions, suggests a broadening of financial tools available to users.

The organic growth of trading groups, meme coins, and community engagement around these chains points to a vibrant, self-sustaining ecosystem.

The post DeFi’s Vanguard: Exploring the Growth of Sei, Sui, and Aptos appeared first on Cryptopress.

Cryptocurrencies were notably absent from the Trump-Harris presidential debate.

Topics like abortion, immigration, inflation, and Ukraine dominated the discussion.

Bitcoin’s price fell below $57,000 following the debate.

Kamala Harris seemed to gain favor among crypto enthusiasts post-debate.

The Crypto Silence in the Presidential Debate

During the first presidential debate of 2024 between Donald Trump and Kamala Harris, cryptocurrencies were conspicuously absent from the conversation. While the nation tuned in expecting insights into how the next president might approach digital currencies, the debate pivoted towards traditional political battlegrounds like abortion, immigration, and economic policy.

Why Crypto Was Left Out

The omission of cryptocurrencies might seem puzzling given their rising prominence in financial discussions. However, both candidates might have calculated that diving into the complexities of blockchain technology and digital assets could alienate voters more concerned with immediate, tangible issues. Yet, this silence didn’t go unnoticed by the crypto community, which has been vocal about the need for clear regulatory frameworks.

Market Reaction: Bitcoin’s Dip

Following the debate, Bitcoin experienced a noticeable drop, falling below $57,000. This decline can be attributed to several factors, including the lack of policy discussion that might have reassured investors. The crypto market, often seen as a barometer for investor sentiment, reacted swiftly, reflecting perhaps a sense of disappointment or uncertainty.

Neither candidate offered a coherent economic policy during the debate They covered immigration, wars, domestic unrest, and different personal tactics in the debates, but no mention of crypto left the market hanging in uncertaintyLately, the buzz was all about if #Trump… https://t.co/67MvvFBXOW pic.twitter.com/ZDEvHkSZ6G

— Rektology (@rektlogy) September 11, 2024

Harris’s Unexpected Gain in Crypto Circles

Interestingly, despite the absence of crypto talk, Kamala Harris appeared to gain traction among cryptocurrency enthusiasts. Platforms like Polymarket, where users bet on future events, saw a shift in favor of Harris. This could be due to her broader policy stances that might indirectly benefit the crypto space, such as her approach to technology and innovation, or simply a reaction against Trump’s previous skepticism towards cryptocurrencies.

The Broader Implications

Political Engagement with Tech: The debate’s content highlights a broader disconnect between political discourse and technological advancement. As cryptocurrencies become more integrated into the global economy, their exclusion from such a high-profile discussion might signal a lag in political adaptation to tech trends.

Market Volatility: The immediate drop in Bitcoin’s price post-debate underscores the market’s sensitivity to political events, even when those events don’t directly address crypto. This volatility could be a lesson in the interconnectedness of politics and finance in the digital age.

Looking Forward

For now, the silence on crypto might just be the calm before a more informed storm, where candidates will need to address the elephant in the room—or rather, the blockchain in the ballot box.

The post Cryptocurrency’s Absence in Trump-Harris Debate appeared first on Cryptopress.

Bitcoin ETFs have indeed broken an 8-day streak of outflows by recording net inflows of approximately $28 million. This shift comes after a period where these ETFs experienced significant outflows, totaling around $1.2 billion, marking a notable turnaround in investor behavior towards Bitcoin ETFs. Here’s a brief overview based on the information available up to September 10, 2024:

Recent Performance: After a prolonged period of outflows, which started around late August, Bitcoin ETFs saw their first inflow in over a week, signaling a potential change in market sentiment or strategy.

Inflow Leaders: Fidelity’s Wise Origin Bitcoin Fund (FBTC) and Bitwise’s Bitcoin ETF (BITB) were among the leaders in terms of inflows, with FBTC seeing inflows matching the total figure of $28.6 million, and BITB close behind with $22 million.

Market Sentiment: This inflow could be interpreted as a vote of confidence from investors, possibly reacting to market conditions, news, or anticipation of future price movements. However, it’s worth noting that while this is a positive sign, the inflows are still relatively modest compared to the previous outflows.

Price Reaction: Following these inflows, Bitcoin’s price showed a positive reaction, moving above $56,500 and even reaching towards $57,000, indicating that market sentiment might be improving or that there’s renewed interest in Bitcoin as an investment.

Context: The crypto market often experiences volatility, and ETFs can reflect broader market sentiments or reactions to specific events. The end of the outflow streak might be influenced by various factors, including macroeconomic trends, regulatory news, or shifts in investor perception of Bitcoin’s role in portfolios.

Good morning,Yesterday's Bitcoin ETF flows were positive for the first time in a while for $28.6 million.Blackrock had its 3rd outflow day for $9.1 million, GBTC had $22.8 million of outflows.Fidelity had $28.6 million of inflows and Bitwise $22 million.Bitcoin went from… pic.twitter.com/b4rnSzlQ0M

— WhalePanda (@WhalePanda) September 10, 2024

This development suggests that while there was a significant withdrawal of funds from Bitcoin ETFs recently, the market might be stabilizing or even seeing a cautious return of investor interest. However, it’s crucial to monitor how these inflows evolve over time, as they could either signal the beginning of a new trend or be a temporary blip in the broader landscape of crypto investment trends.

The post Bitcoin ETFs break 8 day outflow streak and record $28M in net inflows appeared first on Cryptopress.

Cryptocurrency has taken the world by storm over the past decade. From Bitcoin to decentralized finance (DeFi), the digital currency market has redefined how we think about money. But not everyone is sold on the idea of a decentralized financial system. Some of the most respected figures in traditional finance and tech remain staunch skeptics. Today, we’re talking about three of the most famous: Warren Buffett, Bill Gates, and Charlie Munger.

1. Warren Buffett: The Oracle of Omaha and the Crypto Doubter

Who is Warren Buffett?

If you’ve ever Googled “world’s richest investors,” you’ve undoubtedly come across Warren Buffett. As CEO of Berkshire Hathaway, Buffett is known for his incredibly successful long-term investment strategies and his plain-spoken wisdom. At 93, with a net worth hovering around $120 billion, he’s the epitome of “old money.”

What Does He Think About Crypto?

Buffett’s views on crypto can be summed up in one word: useless. He’s a firm believer in investing in productive assets, like companies that generate goods or services, rather than in speculative instruments. Bitcoin? No thanks. Buffett has repeatedly compared it to rat poison, saying it’s not an investment, just a gamble.

The Most Controversial Quotes

Buffett’s bluntness about Bitcoin has been a lightning rod for controversy:

“Bitcoin is probably rat poison squared.” (2018)When asked about the cryptocurrency in an interview, Buffett doubled down on his distaste for Bitcoin. Rat poison squared? That’s Buffett’s way of saying it’s even worse than a bad investment—it’s downright dangerous.

“It doesn’t produce anything.”Buffett has emphasized that Bitcoin doesn’t generate income, make products, or employ people—key factors in what he considers a good investment.

Buffett’s core belief is that Bitcoin’s value comes from the hope that someone else will pay more for it, which he sees as the purest form of speculation. He’s made it clear that he wouldn’t touch cryptocurrency with a 10-foot pole.

2. Bill Gates: Tech Genius, Crypto Skeptic

Who is Bill Gates?

Co-founder of Microsoft and a man with a net worth of about $114 billion, Bill Gates is one of the most influential figures in the tech industry. After stepping down from his day-to-day role at Microsoft, Gates has devoted much of his time to philanthropy through the Bill & Melinda Gates Foundation. His expertise in technology gives his opinions weight when it comes to digital innovation, but crypto? Not so much.

What Does He Think About Crypto?

Gates has voiced concern over the speculative nature of cryptocurrencies and the environmental impact of mining. He’s particularly critical of Bitcoin, claiming it’s not scalable and poses more harm than good in certain contexts. According to Gates, Bitcoin is mainly for people “who have more money than sense.”

The Most Controversial Quotes

“If you have less money than Elon, you should probably watch out.” (2021)Gates made this statement when Bitcoin was reaching all-time highs. His warning was clear: unless you can afford to lose a fortune like Elon Musk, be careful with Bitcoin investments. The quote highlights Gates’ concerns that people might be swept up by crypto mania without understanding the risks.

“Bitcoin uses more electricity per transaction than any other method known to mankind.” (2021)Gates, always environmentally conscious, has criticized the energy consumption associated with Bitcoin mining, particularly its carbon footprint. He argues that any financial system that requires massive amounts of energy to function is inherently flawed.

His biggest issue with crypto is its lack of transparency and its association with criminal activities like money laundering and ransomware payments. Gates believes that regulation and oversight are necessary to prevent crypto from being used irresponsibly.

3. Charlie Munger: The Right-Hand Man with a Scathing Critique

Who is Charlie Munger?

Charlie Munger, often overshadowed by his business partner Warren Buffett, is no less impressive. As the vice-chairman of Berkshire Hathaway, Munger has played a pivotal role in shaping the conglomerate’s investment strategies. At 100 years old, he’s known for his sharp wit and brutal honesty, with a net worth of around $2.5 billion.

What Does He Think About Crypto?

Munger’s views on cryptocurrency mirror Buffett’s, but with an extra layer of disdain. He’s called Bitcoin “disgusting” and likened it to a venereal disease. If you think Buffett is tough on crypto, Munger takes it to another level.

The Most Controversial Quotes

“I hate the Bitcoin success.” (2021)Munger minced no words when asked about Bitcoin at Berkshire Hathaway’s annual meeting. He claimed that Bitcoin goes against the grain of what he believes should drive an economy. Munger doesn’t just dislike crypto—he despises it.

“Of course I hate it…it’s disgusting and contrary to the interests of civilization.”In typical Munger fashion, this quote doesn’t leave much room for interpretation. For him, Bitcoin represents everything wrong with the world: speculation, lack of regulation, and a break from traditional financial values.

Munger’s dislike of crypto stems from his broader philosophy on finance and value investing. He believes in creating real, lasting value, and he views Bitcoin as a short-term play fueled by mania.

Why Do They Matter?

You might be asking: “Why should I care what these guys think? They’re old-school!” And while that’s true, their opinions hold weight because they’ve spent decades building fortunes and empires.

Are They Out of Touch, Or Are They Right?

Critics of Buffett, Gates, and Munger argue that these billionaires simply don’t get the appeal of decentralized finance. Maybe they’re stuck in their ways, or perhaps they’re too invested in traditional finance systems to embrace change. However, others suggest that their wariness is justified. With frequent headlines about crypto scams, fraud, and environmental concerns, their skepticism might be a sign of wisdom rather than obstinance.

At the end of the day, their words serve as a reality check. While the potential for life-changing gains in crypto is real, so are the risks. You wouldn’t jump into a shark tank without knowing how to swim, right? Well, you shouldn’t dive into crypto without understanding the dangers.

The post 3 Most Famous Crypto Skeptics: Buffett, Gates, Munger appeared first on Cryptopress.

Solana (SOL) has been one of the standout performers in 2023, outperforming Bitcoin (BTC) and Ethereum (ETH). For holders of spot SOL, there are numerous strategies to earn additional yield while maintaining exposure to this rapidly growing asset. Here’s an overview of how SOL holders can maximize their yield with low-risk options like staking and more advanced strategies like leveraging liquid staking tokens (LSTs).

What is SOL Staking?

Staking SOL is a straightforward way to earn passive income while securing the Solana network. By staking SOL with liquid staking solutions, users receive tokens like jitoSOL, mSOL, and others, representing their staked assets. These tokens offer ~7-8% APY, primarily driven by SOL inflation, though the real yield—when factoring in emissions—is closer to 1-2%.

Key SOL LSTs by TVL:

jitoSOL (Jito)

mSOL (Marinade)

INF (Sanctum)

JupSOL (Jupiter)

bSOL (Blaze Stake)

LST (MarginFi)

These tokens are integrated across multiple Solana money markets and can be used as collateral, allowing users to maximize yields through looping strategies.

Yield Steps:

Stake SOL to receive liquid staking tokens (e.g., JupSOL, mSOL).

Deposit LST as collateral in a Solana money market.

Borrow SOL against the LST collateral.

Convert borrowed SOL into additional LST.

Repeat the process to loop the position for enhanced yields.

This “looping” approach can significantly boost returns, but it comes with risks—particularly liquidation risk if the LST depegs from SOL. Higher leverage increases this risk.

Optimizing SOL Yields with Kamino Multiply

Kamino Multiply simplifies the looping process for users, enabling automated multiplication of yields. For example, with JupSOL, you can earn up to 16.4% APY when looping the position five times at 80% loan-to-value (LTV). However, leverage comes with liquidation risks if JupSOL depegs against SOL.

Risk of Liquidation Based on Leverage:

5x leverage: Liquidation occurs if JupSOL depegs >11%.

4x leverage: Liquidation occurs if JupSOL depegs >16%.

3x leverage: Liquidation occurs if JupSOL depegs >25%.

2x leverage: Liquidation occurs if JupSOL depegs >44%.

Factsheet

Name Yield Sector Chains jitoSOL 8.3% APY Staking Solana mSOL 7.2% APY Staking Solana INF 7.0% APY Staking Solana JupSOL 8.3% APY (up to 16.4% w/ looping) Staking/DeFi Solana bSOL 6.8% APY Staking Solana

Conclusion

SOL staking offers attractive returns, especially when utilizing liquid staking tokens like JupSOL and taking advantage of money markets. While looping positions can substantially increase APY, the risks—especially liquidation due to depegging—must be carefully managed. For users seeking to maximize their yields, automated solutions like Kamino Multiply present an opportunity to do so efficiently.

The post Solana DeFi Yields With Stablecoins: Spot SOL appeared first on Cryptopress.

Cryptocurrency has taken the world by storm over the past decade. From Bitcoin to decentralized finance (DeFi), the digital currency market has redefined how we think about money. But not everyone is sold on the idea of a decentralized financial system. Some of the most respected figures in traditional finance and tech remain staunch skeptics. Today, we’re talking about three of the most famous: Warren Buffett, Bill Gates, and Charlie Munger.

1. Warren Buffett: The Oracle of Omaha and the Crypto Doubter

Who is Warren Buffett?

If you’ve ever Googled “world’s richest investors,” you’ve undoubtedly come across Warren Buffett. As CEO of Berkshire Hathaway, Buffett is known for his incredibly successful long-term investment strategies and his plain-spoken wisdom. At 93, with a net worth hovering around $120 billion, he’s the epitome of “old money.”

What Does He Think About Crypto?

Buffett’s views on crypto can be summed up in one word: useless. He’s a firm believer in investing in productive assets, like companies that generate goods or services, rather than in speculative instruments. Bitcoin? No thanks. Buffett has repeatedly compared it to rat poison, saying it’s not an investment, just a gamble.

The Most Controversial Quotes

Buffett’s bluntness about Bitcoin has been a lightning rod for controversy:

“Bitcoin is probably rat poison squared.” (2018)When asked about the cryptocurrency in an interview, Buffett doubled down on his distaste for Bitcoin. Rat poison squared? That’s Buffett’s way of saying it’s even worse than a bad investment—it’s downright dangerous.

“It doesn’t produce anything.”Buffett has emphasized that Bitcoin doesn’t generate income, make products, or employ people—key factors in what he considers a good investment.

Buffett’s core belief is that Bitcoin’s value comes from the hope that someone else will pay more for it, which he sees as the purest form of speculation. He’s made it clear that he wouldn’t touch cryptocurrency with a 10-foot pole.

2. Bill Gates: Tech Genius, Crypto Skeptic

Who is Bill Gates?

Co-founder of Microsoft and a man with a net worth of about $114 billion, Bill Gates is one of the most influential figures in the tech industry. After stepping down from his day-to-day role at Microsoft, Gates has devoted much of his time to philanthropy through the Bill & Melinda Gates Foundation. His expertise in technology gives his opinions weight when it comes to digital innovation, but crypto? Not so much.

What Does He Think About Crypto?

Gates has voiced concern over the speculative nature of cryptocurrencies and the environmental impact of mining. He’s particularly critical of Bitcoin, claiming it’s not scalable and poses more harm than good in certain contexts. According to Gates, Bitcoin is mainly for people “who have more money than sense.”

The Most Controversial Quotes

“If you have less money than Elon, you should probably watch out.” (2021)Gates made this statement when Bitcoin was reaching all-time highs. His warning was clear: unless you can afford to lose a fortune like Elon Musk, be careful with Bitcoin investments. The quote highlights Gates’ concerns that people might be swept up by crypto mania without understanding the risks.

“Bitcoin uses more electricity per transaction than any other method known to mankind.” (2021)Gates, always environmentally conscious, has criticized the energy consumption associated with Bitcoin mining, particularly its carbon footprint. He argues that any financial system that requires massive amounts of energy to function is inherently flawed.

His biggest issue with crypto is its lack of transparency and its association with criminal activities like money laundering and ransomware payments. Gates believes that regulation and oversight are necessary to prevent crypto from being used irresponsibly.

3. Charlie Munger: The Right-Hand Man with a Scathing Critique

Who is Charlie Munger?

Charlie Munger, often overshadowed by his business partner Warren Buffett, is no less impressive. As the vice-chairman of Berkshire Hathaway, Munger has played a pivotal role in shaping the conglomerate’s investment strategies. At 100 years old, he’s known for his sharp wit and brutal honesty, with a net worth of around $2.5 billion.

What Does He Think About Crypto?

Munger’s views on cryptocurrency mirror Buffett’s, but with an extra layer of disdain. He’s called Bitcoin “disgusting” and likened it to a venereal disease. If you think Buffett is tough on crypto, Munger takes it to another level.

The Most Controversial Quotes

“I hate the Bitcoin success.” (2021)Munger minced no words when asked about Bitcoin at Berkshire Hathaway’s annual meeting. He claimed that Bitcoin goes against the grain of what he believes should drive an economy. Munger doesn’t just dislike crypto—he despises it.

“Of course I hate it…it’s disgusting and contrary to the interests of civilization.”In typical Munger fashion, this quote doesn’t leave much room for interpretation. For him, Bitcoin represents everything wrong with the world: speculation, lack of regulation, and a break from traditional financial values.

Munger’s dislike of crypto stems from his broader philosophy on finance and value investing. He believes in creating real, lasting value, and he views Bitcoin as a short-term play fueled by mania.

Why Do They Matter?

You might be asking: “Why should I care what these guys think? They’re old-school!” And while that’s true, their opinions hold weight because they’ve spent decades building fortunes and empires.

Are They Out of Touch, Or Are They Right?

Critics of Buffett, Gates, and Munger argue that these billionaires simply don’t get the appeal of decentralized finance. Maybe they’re stuck in their ways, or perhaps they’re too invested in traditional finance systems to embrace change. However, others suggest that their wariness is justified. With frequent headlines about crypto scams, fraud, and environmental concerns, their skepticism might be a sign of wisdom rather than obstinance.

At the end of the day, their words serve as a reality check. While the potential for life-changing gains in crypto is real, so are the risks. You wouldn’t jump into a shark tank without knowing how to swim, right? Well, you shouldn’t dive into crypto without understanding the dangers.

The post 3 Most Famous Crypto Skeptics: Buffett, Gates, Munger appeared first on Cryptopress.

Somnis: Rumble Rush, a blockchain game developed by Overtake, has made a significant impact in the global gaming market, attracting widespread attention just three weeks after its official launch on August 20. Overtake CEO Oh Seung-hwan announced that the game’s launch has far exceeded expectations, with over 30,000 cumulative registrations within three weeks—a remarkable achievement in the blockchain gaming space, where active user bases are typically smaller. This success reflects the strong interest and growing popularity of Somnis: Rumble Rush among global gamers, following the game’s highly successful Closed Beta Test (CBT).

From day one, Somnis: Rumble Rush has demonstrated impressive performance, with an average of over 10,000 daily active users (DAU). Nearly half of the registered players continue to engage with the game regularly—more than double the retention rate of standard games—highlighting the game’s exceptional player engagement and satisfaction. This consistent user activity underscores the growing demand for blockchain games that combine engaging gameplay with the freedom for players to fully manage and seamlessly trade their digital assets.

Additionally, Somnis: Rumble Rush has quickly climbed the global ranks in the strategy game category. According to Sensor Tower, the game has ranked 8th in the U.S., 5th in Japan, 2nd in Indonesia, 2nd in the Philippines, 9th in Thailand, and 2nd in Brazil, marking strong performances in key markets. These rankings further solidify Somnis: Rumble Rush as not only a leader in blockchain gaming but also a competitor in the traditional gaming market, where player retention and engagement are crucial indicators of long-term success.

“We achieved remarkable results at launch by enhancing the game based on the invaluable feedback from our CBT participants,” said Overtake CEO Oh Seung-hwan. “Moving forward, we will continue to offer exciting and innovative experiences through Somnis: Rumble Rush, and we look forward to your continued support and interest.” The strong reception from both blockchain and traditional gamers highlights Somnis: Rumble Rush as a pioneering example of how blockchain technology can enhance the gaming experience without compromising on entertainment value.

The successful launch of Somnis: Rumble Rush underscores new possibilities for growth in the blockchain gaming market and sets the stage for Overtake’s continued success. Building on this momentum, Overtake is gearing up to expand its game portfolio with two highly anticipated releases in the coming months. Golden Guardians, a fast-paced roguelike adventure, and The Red One: Occultation, an Unreal Engine 5 extraction shooter, are poised to elevate Overtake’s presence in both the blockchain and traditional gaming spaces. With these diverse and innovative titles on the horizon, Overtake aims to captivate players worldwide and solidify its position as a leader in the next generation of gaming. Both upcoming releases will build on the strengths that have made Somnis: Rumble Rush a standout success—engaging gameplay, community-driven feedback, and the integration of blockchain technology that offers players true ownership of in-game assets.

For more information please visit :

Twitter | Website  | Discord  | Medium

“About us”OVERTAKE: Community Driven Game Publishing

– AAA Game IP + Web3 Mission Platform for Gaming + #1 Game asset marketplace + Web3 Degen = Overtake

– Three game IPs led by Byoung Jae Lee, a former GM at EA Studios, who led FIFA Online series (Korea’s most successful IP generating $600M yearly revenue)

– Incubated by B&M Holdings, a globally leading Web2 game asset trading conglomerate with $700M+ yearly transaction volume and 30M+ registered gamers

– Backed by ImmutableX, JB Investment, B&M Holdings

Web3 Mission Platform for gaming Metrics Since May Launch

– Connected Wallets: 3,000,000 (up ~200% MoM)

– DAU: Over 40k(up ~200% MoM)

– NFTs Minted: 600,000 (up ~200% MoM)

Somnis: Rumble Rush OBT W1 Metrics

– Registered Users (RU): 40,000

– Daily Active Users (DAU): 12,000

– D7 Retention: 60%

– Daily Revenue: $3,261

■ Press Inquiries

Kyung Jun Shin

kjshin@ottm.io

The post Overtake’s Somnis: Rumble Rush Surpasses 30,000 Registrations Just Three Weeks After Launch appeared first on Cryptopress.

Tokocrypto, a Binance subsidiary, has secured a Physical Crypto Asset Trader (PFAK) license in Indonesia.

This makes Tokocrypto the third exchange in Indonesia to receive such a license, enhancing its credibility and operational scope.

The platform’s user base has surged to over 4.5 million, with a 138% increase in monthly trading volume in 2024.

Tokocrypto’s Milestone: A New Era for Crypto Trading in Indonesia

Tokocrypto, backed by the global giant Binance, has achieved a major regulatory milestone. On September 9, 2024, Tokocrypto announced it had obtained the Physical Crypto Asset Trader (PFAK) license from Indonesia’s Commodity Futures Trading Regulatory Agency (Bappebti). This license not only solidifies Tokocrypto’s position in the Indonesian market but also marks a pivotal moment for the adoption of Web3 technologies in the region.

The Significance of the PFAK License

Regulatory Compliance: The PFAK license is a testament to Tokocrypto’s commitment to regulatory compliance, ensuring that it operates within the legal framework set by Bappebti. This compliance is crucial for building trust among users and investors, who often look for regulatory oversight as a sign of legitimacy.

Market Expansion: With this license, Tokocrypto can now legally engage in physical crypto asset trading, opening up new avenues for growth. The platform’s CEO, Yudhono Rawis, expressed that this license is a critical step towards establishing Tokocrypto as the leading crypto-asset trading platform in Indonesia.

User Growth and Trading Volume: Post-license, Tokocrypto has seen its user base swell to over 4.5 million, with a remarkable 138% increase in monthly trading volume year-to-date. This surge indicates not only increased user confidence but also the growing acceptance of cryptocurrencies in Indonesia.

Binance’s Role in Tokocrypto’s Success

Binance’s CEO, Richard Teng, celebrated this achievement, highlighting the continued support from Binance to drive Web3 adoption in Indonesia. “Congrats to @Tokocrypto, a part of the #Binance group, for securing a full license in Indonesia! Excited to continue supporting Tokocrypto in its mission to drive Web3 growth in the region,” he tweeted. This partnership has evidently played a pivotal role in Tokocrypto’s journey, providing technological upgrades and enhancing security measures.

Congrats to @Tokocrypto, a part of the #Binance group, for securing a full license in Indonesia! Excited to continue supporting Tokocrypto in its mission to drive Web3 growth in the region.https://t.co/R9DhIFcO5b

— Richard Teng (@_RichardTeng) September 9, 2024

Impact on Indonesia’s Crypto Landscape

The granting of the PFAK license to Tokocrypto adds another layer of legitimacy to the crypto trading scene in Indonesia, potentially attracting more conservative investors who were previously hesitant due to regulatory uncertainties.

Being one of the few exchanges with this license, Tokocrypto now holds a competitive edge over other platforms still awaiting approval, which could lead to a consolidation of market share.

With regulatory clarity, Tokocrypto’s efforts to integrate blockchain technology into everyday transactions could see a significant boost, fostering a broader adoption of Web3 technologies.

Tokocrypto’s user base has expanded to over 4.5 million users in 2024, showcasing a 138% increase in monthly trading volume.

Looking Ahead

The future looks promising for Tokocrypto and, by extension, the crypto community in Indonesia. With regulatory hurdles cleared, the focus now shifts towards enhancing user experience, security, and expanding the ecosystem of services around crypto trading. This milestone not only benefits Tokocrypto but also sets a precedent for other exchanges looking to establish a foothold in Indonesia’s crypto market.

The post Tokocrypto Gains Trading License in Indonesia appeared first on Cryptopress.

What is EigenLayer?

EigenLayer is a decentralized protocol that allows Ethereum (ETH) stakers to “restake” their ETH, leveraging their staked assets across multiple protocols. In simple terms, users can participate in multiple security mechanisms simultaneously, maximizing their ETH’s earning potential without having to unstake it from the Ethereum mainnet. This is a new way of utilizing capital that’s already locked in staking, unlocking additional yield while contributing to network security.

EigenLayer is a part of the broader DeFi movement, focusing on enhancing Ethereum’s security and functionality. The protocol is particularly important because it helps align incentives for validators and provides them with additional opportunities to earn beyond traditional ETH staking rewards.

Why EigenLayer’s Season 2 Airdrop Matters

The first season of the EigenLayer airdrop was a success, rewarding early adopters for their participation in the protocol. Season 2 is anticipated to follow a similar format, offering those who participate in governance, restake their ETH, and contribute to the protocol’s security a chance to earn token rewards.

Given that EigenLayer raised over $86 million in funding, including $50 million from its Series A led by Blockchain Capital, the project has captured significant interest in the crypto community. This makes Season 2 an exciting opportunity for both Ethereum stakers and DeFi enthusiasts.

Airdrop Steps:

Stake ETH on EigenLayer: Connect your wallet to the EigenLayer platform and stake ETH.

Restake: Once ETH is staked, opt for the “restaking” feature to secure the protocol and potentially qualify for rewards.

Complete Governance Participation: Engage in governance votes to increase your chances for the airdrop.

Hold the Tokens: Keep your staked ETH locked for the duration required by the platform.

Stay Active: Engage with platform updates and features to remain eligible for Season 2 airdrop.

Factsheet

Name EigenLayer Airdrop Season 2 Status Confirmed Confidence High Sector DeFi, Yield Farming, Staking Chains Ethereum

How to Maximize Your Airdrop Eligibility

If you missed the first round of EigenLayer’s airdrop, don’t worry. Season 2 is expected to have broader participation criteria. Here’s how you can increase your chances of receiving the airdrop:

Actively Stake and Restake: The primary eligibility requirement will likely be staking ETH on EigenLayer and restaking it to secure additional protocols.

Engage in Governance: Voting in key governance proposals could play a significant role in determining airdrop eligibility.

Be an Early Participant: The earlier you engage, the better your chances of maximizing your potential rewards. The first participants in Season 1 benefited from substantial token allocations.

EigenLayer’s Season 2 airdrop presents a unique opportunity for Ethereum stakers to capitalize on their locked assets. As restaking gains popularity, DeFi projects like EigenLayer could play a pivotal role in shaping Ethereum’s security future while rewarding its participants with valuable tokens.

The post EigenLayer Airdrop Season 2 appeared first on Cryptopress.

The new product of WhiteBIT crypto exchange, WhitePool, celebrates its first month of operation with striking results. The platform has mined over 200 blocks, mining at least 2-3 blocks per day. The FPPS reward system ensures daily profit for miners.

On September 2, to mark the one-month anniversary of the WhitePool launch, the platform is starting a new promotion that allows all miners to use the platform without any fees throughout September. The promotion has no additional conditions—all you need to do is join the pool to receive a 0% fee from September 2 to September 30.

Since its launch, WhitePool has become one of the largest mining pools backed by a centralized crypto exchange ecosystem. For professional miners, the platform offers security, an intuitive interface, and the possibility of long-term investment through other products of the WhiteBIT ecosystem. Since its inception, WhitePool has been ranked among the top 15 mining pools in the world and continues to grow.

To enjoy the discount for using WhitePool in September, you need to: 

be registered on the WhiteBIT platform and pass identity verification (KYC);

create a mining account in WhitePool;

connect at least one piece of mining equipment to WhitePool.

Users who fulfill these conditions will automatically receive VIP status in WhitePool and a 100% discount on the fee for using the mining pool until September 30. The number of winners is not limited, and the discount will be credited automatically within a day after the equipment is connected.

Mining pools are becoming a profitable alternative to solo mining, as they combine the resources of many miners, which increases the chances of finding a block and receiving a reward. Even miners with limited resources can make a regular profit. WhitePool offers the FPPS (Full Pay-Per-Share) system, which provides a stable daily income by paying a fixed amount for each share of work, regardless of whether a block is found. Additionally, WhitePool supports the SHA256 algorithm and ensures that miners receive their rewards directly to their Main balances on the WhiteBIT exchange with no extra fees. The platform also provides 24/7 support in different languages. 

Thanks to its innovative approaches and profitable conditions, WhitePool is confidently strengthening its position among the leading mining platforms, providing miners with reliable and convenient tools for cryptocurrency mining and stable income.

WhiteBIT is one of the largest European centralized crypto exchanges, founded in 2018. The exchange offers 580+ trading pairs, 270+ digital assets, and 10 state currencies. The company is an official partner of the Ukrainian national football team, FC Barcelona, FC Trabzonspor, FACEIT. The goal of WhiteBIT is the mass implementation of blockchain technology worldwide.

The post WhitePool by WhiteBIT Mines Over 200 Blocks in First Month, Launches Zero Usage Fee Promotion for September appeared first on Cryptopress.

What is PYUSD?

PYUSD, or PayPal USD, is a stablecoin issued by PayPal that has gained significant traction in the decentralized finance (DeFi) space. It is designed to maintain a 1:1 peg with the U.S. dollar, and since its inception, PYUSD has grown rapidly. Currently, it boasts a supply exceeding one billion, split 65% on Solana and 35% on Ethereum mainnet. The surge in its use can be attributed to PayPal’s aggressive incentive programs on Solana, especially on platforms like Kamino, where PYUSD lenders can earn yields between 10% and 20% annually.

DeFi Yields with Stablecoins on Solana: PYUSD Highlights

Solana’s DeFi ecosystem offers compelling opportunities for stablecoin holders, particularly those using PYUSD. Kamino, one of the leading platforms on Solana, allows users to deposit PYUSD and earn attractive yields. Here are some key takeaways:

Kamino Finance: With over $1.5 billion in liquidity, Kamino is Solana’s second-largest DeFi platform by total value locked (TVL).

PYUSD Yield Opportunities: Lenders on Kamino can choose between different markets offering yields of 10.85% to 13.01%.

PayPal Incentives: PayPal has contributed significantly to this growth by offering weekly PYUSD rewards, fueling the demand for PYUSD within Solana’s ecosystem.

Yield Steps:

To obtain yield on Solana DeFi with PYUSD, follow these simple steps:

Acquire PYUSD: Buy PayPal USD (PYUSD) on a crypto exchange.

Deposit into Kamino: Choose the Kamino finance platform, Solana’s leading money market.

Choose a Market: Select between the PYUSD Ethena market or the PYUSD main market.

Start Earning: Depending on the market chosen, earn annual yields ranging from 10.85% to 13.01%, with rewards paid out in claimable PYUSD.

Factsheet:

Name Yield Sector Chains PYUSD Ethena Market 10.85% APY Lending Solana, Ethereum PYUSD Main Market 13.01% APY Yield farming Solana, Ethereum Kamino Finance 10-20% (varies) DeFi Solana

For those seeking stable returns with minimal volatility, PYUSD presents a solid option within the Solana ecosystem. Kamino’s markets, bolstered by PayPal’s PYUSD incentives, offer yields that outperform traditional savings accounts and other DeFi platforms. With yields as high as 13.01%, this is an opportunity worth exploring for stablecoin enthusiasts.

The post Solana DeFi Yields With Stablecoins: PYUSD appeared first on Cryptopress.

Memecoins—those quirky, internet-inspired tokens that make the crypto world both fun and risky. But they aren’t just about laughs; they’ve turned into serious investment opportunities, particularly on platforms like Tron.

So, let’s dive into the top memecoins on Tron and see what makes them tick, what risks they carry, and why they might just be the next big thing in your portfolio.

1. Sundog: The “Good Dog” of Tron Memecoins

Sundog is the dog-themed memecoin that has captured the hearts (and wallets) of the Tron community. Imagine Dogecoin, but faster and with lower fees—thanks to the Tron blockchain. Sundog is all about community spirit, with regular giveaways and charity drives that set it apart from other memecoins.

Why It’s Gaining Popularity

Community-Centric: Unlike many other memecoins, Sundog has a transparent development team and an active community that is passionate about more than just profits.

Fast Transactions: On Tron, transactions are almost instantaneous, making Sundog a practical option for tipping, micro-transactions, or even as a day-to-day digital currency.

Market Cap: $20 million (as of last quarter)

Active Wallets: Over 50,000

Transaction Speed: Less than 3 seconds

2. TronBull: The Bullish Beast of Tron

TronBull takes the bullish spirit of the crypto world and wraps it into a fun, meme-worthy package. This token is designed to thrive in both bull and bear markets, with a focus on long-term growth.

Why It’s Gaining Popularity

Deflationary Mechanics: TronBull’s supply decreases with each transaction, making it scarcer and potentially more valuable over time.

Investor Confidence: With a name like TronBull, the token naturally attracts bullish investors who believe in Tron’s long-term success.

Market Cap: $15 million

Burn Rate: 1% per transaction

Holders: 35,000

3. Dragon Sun: The Mythical Powerhouse

Dragon Sun is the mystical memecoin that blends Eastern mythology with cutting-edge blockchain tech. It’s a tribute to the legendary dragons of Asian lore, designed to be both powerful and elusive.

Why It’s Gaining Popularity

Cultural Appeal: Dragon Sun taps into the rich cultural heritage of dragons, appealing to a broad audience in Asia and beyond.

Limited Supply: With only 1 million tokens, Dragon Sun is one of the rarest memecoins on Tron, making it highly sought after.

Market Cap: $10 million

Total Supply: 1 million

Holders: 10,000

4. Fofar: The Wild Card

Fofar is the wild card in the Tron memecoin ecosystem. It’s unpredictable, volatile, and completely driven by the community’s whims. If you like to live on the edge, Fofar is your coin.

Why It’s Gaining Popularity

Volatility: Fofar’s price can swing wildly, which attracts both day traders and thrill-seekers.

Meme Power: With a dedicated meme army, Fofar is more than just a token; it’s a lifestyle.

Market Cap: $5 million

24h Trading Volume: $1 million

Price Swings: Up to 50% in a single day

5. Sun Cat: The Purr-fect Blend of Cuteness and Profit

Sun Cat is a cat-themed memecoin that’s as cute as it is profitable. Cats have taken over the internet, so why not the blockchain? Sun Cat is for those who want a little fun with their finances.

Why It’s Gaining Popularity

Appeal: Everyone loves cats, and Sun Cat leverages that universal appeal to create a strong, loyal community.

Charity Partnerships: A portion of every transaction goes to animal welfare organizations, making it a feel-good investment.

Market Cap: $7 million

Charity Contributions: $500,000 donated to animal shelters

Holders: 20,000

6. Sun Pepe: The Meme King of Tron

Sun Pepe is the Tron version of the infamous Pepe the Frog meme. Love it or hate it, Pepe is here to stay, and this memecoin is riding the wave of internet culture straight to the bank.

Why It’s Gaining Popularity

Meme Legacy: Pepe the Frog is one of the most enduring memes on the internet, and Sun Pepe capitalizes on that legacy.

High Engagement: With constant meme contests and social media challenges, Sun Pepe keeps its community engaged and growing.

Market Cap: $8 million

Social Media Engagement: 100,000 tweets per month

Holders: 25,000

The post Top Memecoins on Tron appeared first on Cryptopress.

Automatic Transition: MATIC holders on Polygon PoS experience seamless conversion to POL.

Enhanced Utility: POL introduces new functionalities in staking, governance, and ecosystem financing.

No Deadline for Conversion: Users on Ethereum and other networks have flexibility in migrating to POL.

The Dawn of POL: Polygon’s Strategic Token Upgrade

Polygon has officially initiated the migration from its well-known MATIC token to the newly introduced POL token, marking a significant step in its Polygon 2.0 roadmap. This transition isn’t just a name change; it’s a comprehensive upgrade aimed at enhancing the blockchain’s capabilities.

Why the Change?

The shift to POL is designed to make Polygon’s ecosystem more flexible, particularly in how new token supplies are issued and utilized across its network. POL is described as a “hyperproductive” token, intended to serve multiple functions across Polygon’s expanding universe, including gas fees, staking, and potentially more as the community decides.

For the Users

Automatic Conversion: If you’re holding MATIC on the Polygon PoS chain, the switch to POL happens automatically, requiring no action from your side.

Manual Options Available: For those on Ethereum, Polygon’s zkEVM, or using centralized exchanges, manual migration through the Polygon Portal or other means is necessary, though there’s no immediate deadline set for this transition.

POL Upgrade | Everything to Know Users w/ MATIC on Ethereum can upgrade today via Polygon Portal Interface: https://t.co/Ibs1ONels1There is no deadline for users to upgrade. All MATIC on Polygon PoS & staked MATIC on Ethereum will upgrade automatically on Sept 4. pic.twitter.com/qKnyYFrlqH

— Polygon | Aggregated (@0xPolygon) August 27, 2024

Implications for Staking and Governance

With POL, staking becomes more integral to Polygon’s operations. Validators and stakers can expect to engage in a broader array of services within the upcoming Polygon Staking Hub, slated for 2025. This move not only decentralizes the network further but also potentially increases the rewards system through a new emission rate of 2% annually, split between validator rewards and the community treasury.

The introduction of POL also signifies Polygon’s commitment to community-driven growth. The token’s economics include funding for community initiatives, aiming to foster development and innovation within the Polygon ecosystem. This approach could lead to a more engaged community, directly influencing the network’s evolution.

Market Response and Statistics

Before the transition, MATIC boasted a market cap of approximately $3.6 billion, reflecting strong market confidence which POL inherits.

The new 2% annual emission rate for POL is set to manage inflation while fueling growth, a strategy to ensure sustainability and incentivize participation.

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 In today’s fast-evolving financial landscape, ICONOMI is at the forefront, offering a seamless bridge between traditional investing and the dynamic world of cryptocurrencies. Designed for Millennials, Gen X, and forward-thinking business owners, ICONOMI makes long-term crypto investments accessible, manageable, and aligned with the strategies that have driven traditional investment success for decades.

Why Millennials and Gen X Should Consider Crypto for Long-Term Investing

Traditional investing principles like diversification have long been proven to deliver steady growth and minimize losses over time. But why stop at stocks, bonds, and real estate? Cryptocurrencies are increasingly recognized as an essential component of a modern, diversified portfolio, especially for Millennials and Gen X investors who are looking to future-proof their wealth.

ICONOMI bridges this gap by introducing traditional investors to digital assets through intuitive crypto portfolios. By offering a variety of managed strategies, such as the Blockchain Index (BLX) and BEX, ICONOMI provides an intuitive and less intimidating entry into crypto investing.

ICONOMI’s Crypto Strategies: BLX and BEX

ICONOMI offers a suite of over 200 crypto strategies tailored for different risk tolerances and investment objectives. Among these, the Blockchain Index (BLX) and BEX strategies stand out as powerful options for those looking to gain exposure to the crypto market with minimal hassle.

The Blockchain Index (BLX) is a passively managed strategy that invests in established blockchain projects with active beta components. It is market-cap weighted with fixed allocations to Bitcoin (BTC) and Ethereum (ETH), and focuses on nascent projects with potential strategic importance for the future distributed economy. This strategy is ideal for investors seeking a diversified, long-term investment approach that taps into the growth of blockchain technology.

The BEX strategy prioritizes BTC and ETH, dynamically adjusting its holdings based on market cap and risk. It employs an automated approach, rebalancing weekly to maintain a balanced, risk-aware portfolio that adapts to the ever-evolving crypto narrative. The BEX strategy is suited for investors who want to benefit from the leading cryptocurrencies while maintaining flexibility in a volatile market.

ICONOMI: Simplifying Crypto Investments for All

ICONOMI’s platform is designed to be both powerful and user-friendly, making it easy for anyone—from beginners to experienced traders—to participate in the crypto market:

Expert Management: Each strategy on ICONOMI is curated by seasoned experts with a vested interest in achieving the best returns for investors. This means that investment decisions are grounded in thorough market analysis, solid understanding of tokenomics, and best practices in crypto investing.

Diversification: Managed portfolios on ICONOMI typically include a variety of cryptocurrencies, from major players like Bitcoin and Ethereum to emerging DeFi assets. This diversification spreads risk and increases the likelihood of stable returns.

Accessibility: With an incredibly user-friendly interface, ICONOMI makes it simple to invest in crypto strategies. Investors can browse and choose strategies that match their goals, all within a few clicks.

Transparency: ICONOMI offers real-time data on portfolio performance and asset distribution, allowing investors to make informed decisions based on historical performance and current market conditions.

Time Efficiency: Managed crypto portfolios save investors time by outsourcing the daily management of assets to experienced strategists. This allows investors to remain involved while avoiding the complexities of direct trading.

Catering to Long-Term Investors

ICONOMI’s platform is particularly well-suited for long-term investors. The strategies offered are designed to capitalize on both immediate market movements and longer-term trends. Investors can easily transition between different strategies to adapt to market changes, all while maintaining a long-term investment stance.

ICONOMI’s Vision: Building Trust Through Transparency

As digital currencies become integral to personal and business finance, ICONOMI aims to be the premier platform for digital asset management. By offering a transparent and secure environment, ICONOMI builds trust with its users, helping them navigate the complexities of the crypto market with confidence.

Join the ICONOMI Revolution

With over 100,000 users worldwide, ICONOMI is revolutionizing how people invest in crypto. Whether you are a beginner, an experienced trader, or a business owner, ICONOMI provides the tools, strategies, and support needed to thrive in the digital economy.

For more information, visit ICONOMI’s website and explore our digital asset management platform.

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Press Contact:ICONOMI Communications Teamcontact@iconomi.com

The post ICONOMI: Bridging the Gap Between Traditional and Crypto Investing appeared first on Cryptopress.