Paris, France, April 25th, 2024, Chainwire

Prize pool of over 1M€ value including media grant from Cointelegraph

Proof of Pitch is part of Proof of Talk, where All Global Leaders in Web3 Meet  

10-11 June 2024, Museum of Decorative Arts (MAD), Louvre Palace, Paris

In a ground-breaking shift from traditional pitch competitions, Proof of Pitch emerges as a transformative platform uniquely combining Artificial Intelligence (AI) insights with the strategic acumen of the world’s leading Web3 venture capitalists. Proof of Pitch participants will showcase their presentation to an exclusive audience of speakers and VCs, including CEOs, founders of leading blockchain companies, and top Web3 VC partners.

Next to the competition’s main sponsor zkSync, distinguished partners and jurors are participating, including Pantera Capital, Borderless Capital, Binance Labs, Greenfield Capital, Arrington Capital, Animoca Brands, Spartan Group, X Ventures, Mechanism Capital and Cointelegraph.

The Proof of Pitch winner will be awarded a first-place grand prize award of 1M€ value in a combination of cash investments by participating VCs, Accelerator services, visibility (such as a 30k media grant from Cointelegraph), and many other value-adding elements.

All participants will also receive a detailed 12-page investment report to understand the strengths and weaknesses of their pitch, outlining strengths to focus on and weaknesses to improve. This is equivalent to a team of analysts spending weeks analyzing the participant’s startup.

Zohair Dehnadi, Co-Founder, Proof of Talk and Partner, X-Ventures: “Unlike conventional pitch competitions, Proof of Pitch enables global businesses and leadership to intelligently tap into the power of Web3, providing valuable and sustainable insights for investors and the startup community at large instead of having just another light-touch startup competition with glittering prizes which ultimately do not add any real business value. Be part of our prestigious Proof of Pitch experience and elevate yourself! See you in June!”

Revolutionizing Startup Evaluation: The AI Advantage

At the heart of Proof of Pitch, a pioneering AI-driven tool is redefining startup assessments, providing deep, nuanced insights at an unprecedented pace. Developed by XVentures through a rigorous, year-long collaboration involving top VCs and data scientists, this AI, known as Pitch Scan LLM tool, can scrutinize a start-up’s business model, conducting thorough due diligence, and evaluate the team behind the idea, market size, and competitive landscape—within minutes rather than weeks. Every participant will be furnished with a detailed 10-page report, with a strategic roadmap for success in the ever-evolving Web3 domain.

Beyond Funding: Prizes That Foster Growth

This initiative is a revolutionary approach aimed at identifying, nurturing, and elevating start-ups set to redefine the innovative horizons of Web3. Winning at Proof of Pitch extends well beyond obtaining financial support. Winners are embraced by a full spectrum of resources, from AI-powered analytics to mentorship by Web3 visionaries, alongside direct introductions to leading venture capitalists. This holistic support system is designed to refine strategies, accelerate growth, and establish market leadership.

Unprecedented Visibility Among the Elite

Gain exclusive exposure by standing among the top 10% of applicants, showcased to a distinguished audience including CEOs, founders of leading blockchain enterprises, and top-tier Web3 venture capitalists. This exposure is more than mere visibility—it’s a golden ticket to captivate the attention of the industry’s elite, secure pivotal investments, and forge transformative connections.

A Vanguard Call to Web3 Innovators

Proof of Pitch calls upon start-ups at the cutting edge of Web3 innovation to dazzle the industry’s titans, venture through the vanguard of technology, and stake a claim in the digital future. This unparalleled opportunity allows participants to showcase their visionary ideas, propel their start-ups forward, and create a lasting impact in the domain of digital innovation.

Proof of Pitch invites those who are interested to dive into this revolutionary journey, an avenue for transcending traditional pitch norms. Navigate through the forefront of Web3 innovation.

Proof of Talk seeks to welcome over 2500 participants. Combined with a stellar speaker line-up featuring CEOs, founders, and leaders of the Web3 and digital assets industry, the summit features impact-focused networking and a refined agenda. A few of the speakers include:

● Joseph Lubin, CEO and Founder at Consensys

● Jenny Johnson, CEO, Franklin Templeton

● Tim Draper, Founder, Draper Associates

● Ophelia Snyder, Cofounder President, 21Shares

● Mihailo Bjelic, Co-Founder, Polygon

● Raoul Pal, Crypto Macro Economist

● Yat Siu, Chairman, Animoca Brands

● Stani Kulechov, CEO, Avara

● Staci Warden, CEO, Algorand Foundation

● Tim Grant, CEO, Deus X Capital

● Digital asset leads from over 30 major TradFi banks

● Partners from 100+ attending VCs

The summit’s agenda also actively reflects Web3’s growing importance, with over 20 panels, 10+ workshops, and over a dozen keynotes and firesides on key topics shaping Web3’s future. These include real-world asset tokenization, AI-blockchain integration, gaming evolution, and smart contract security.

Participants in this year’s Proof of Pitch can showcase their innovative ideas and gain valuable exposure. Participants have the opportunity to connect with industry experts and potential investors who can help elevate their businesses to the next level. Those who are interested can apply here.

About Proof of Talk

Proof of Talk is setting a new standard in the Web3 conference landscape, positioning itself not just as another web3 conference but as a pivotal forum where the promise of decentralization comes to life. The summit uniquely combines the essence of traditional economic forums with the dynamic, decentralized Web3 community, fostering an innovative ecosystem of dialogue and action. It stands as a platform for change, where every voice, from the seasoned economist to the radical Web3 founder, contributes to a collective vision of a decentralized economic future. By facilitating engaging discussions and unparalleled networking, participants shape this new landscape. Learn more at www.proofoftalk.io

About X Ventures

X Ventures is a Germany-based digital assets investment fund dedicated to supporting and empowering entrepreneurs in the Web3 industry. Alongside its investment activities, X Ventures founded www.xschool.io, aiming to provide accessible education to future leaders worldwide. Website: https://www.xventures.de

Contact

Shanna Molina
Cognito
shanna.molina@cognitomedia.nl

Dubai, April 18, 2024: 

Following a resounding success, VAP Group is thrilled to announce the triumphant conclusion of the inaugural editions of the Global AI Show and the Global Blockchain Show, held on April 16 and 17, 2024, at Grand Hyatt, Dubai. 

The heavy rainfall that hit Dubai on Tuesday this week, most of the other events were canceled, only the Global AI Show and Global Blockchain Show took place. There were thousands  of attendees who witnessed these grand events.

While the event was seeing great success, VAP Group’s CEO, Vishal Parmar, took this moment to announce a significant milestone for blockchain & AI services by launching Times of AI and Times of Blockchain, two digital media subsidiaries of the VAP Group that will contribute to advancements in Artificial Intelligence and Blockchain. These initiatives are poised to make substantial contributions to the ongoing progress in both of these respective fields.

The Global AI Show emerged as a powerhouse platform, showcasing a convergence of international and regional luminaries in the artificial intelligence and machine learning domains. Attendees were treated to a comprehensive exploration of AI’s transformative potential across key sectors such as healthcare, finance, retail, and oil and gas. With thought-provoking keynote speeches and panel discussions, the event provided invaluable insights into unlocking new possibilities through AI technologies. Notable highlights included Jamie Metzl’s captivating session on the implications of AI, genetics, and biotechnology revolutions, as well as Dr. Divya Chander’s illuminating journey from brain reading to closed-loop brain-machine interface systems.

Meanwhile, the Global Blockchain Show illuminated the dynamic landscape of blockchain technology, drawing together experts from the web3 ecosystem to share their insights and discuss future opportunities. From thought-provoking presentations by visionaries like H.E. Justin Sun, Founder of TRON, to enlightening fireside chats with industry leaders like Dr. Marwan Alzarouni, CEO, Dubai Blockchain Center, attendees were immersed in discussions covering diverse topics ranging from the evolution of the digital ecosystem to the decentralized cloud vision of blockchain platforms like DFINITY.

The interactive presence of Sophia, the world’s first AI-humanoid robot, as the Official Ambassador for both events added a unique dimension, inspiring attendees with the boundless possibilities of AI and web3 technologies.

Various luminaries and experts spoke about advancements in AI and blockchain to come in the next few years. While addressing at the event, Dr. Divya Chander, MD, PhD, Neuroscientist, Physician, Medical Futurist said, “Elon Musk is not the first person to find neuronlike, he is just the famous one”. Additionally, Scott Melker said, “if I had to choose to put my money in the gaming industry, I will put it in India”.

In addition to the rich conference agenda, the events featured a vibrant start-up village where budding entrepreneurs showcased their innovative ideas to potential investors and venture capitalists. The launch of the VAP Accelerator further underscored its commitment to nurturing the next generation of AI and blockchain innovators.

A highlight of these events was the resounding success of the Global Blockchain Awards and Global AI Awards ceremonies, which recognized industry experts and leading organizations for their outstanding contributions.Neoki stood out by winning Best Visionary in Crypto of the Year, showcasing their innovative approach in the cryptocurrency realm. Binance secured Best Exchange of the Year, reaffirming its position as a trailblazer. At the Global AI Awards, H.E. Omar Sultan Al Olama, Minister of State for AI, UAE, received the prestigious Global Visionary award for Pioneering a New Future, while Rashed AlSuwaidi, from the Ministry of State AI, UAE, was honored with the powering advancement of technology award, emphasizing their significant contributions to technological innovation. ADNOC Distribution won another iconic award for Best AI Achievement in Energy & Utilities, These achievements underscore the profound impact of visionaries and innovators in shaping the future of blockchain and AI technologies.

Both of the events  concluded with an unforgettable afterparty at the luxurious White Beach at Atlantis, The Palm, providing a perfect setting for industry experts and enthusiasts to network, forge new connections, and unwind in a relaxed atmosphere.

The resounding success of the Global AI Show and the Global Blockchain Show underscores Dubai’s emergence as a global hub for cutting-edge technology and innovation. VAP Group extends its heartfelt gratitude to all participants, sponsors, and partners for their unwavering support in making these landmark events a grand success.

About VAP Group

VAP Group, an industry leader with over a decade of expertise in Web3 and Blockchain solutions, continues to revolutionize the landscape of digital innovation. Established in 2013, VAP Group has consistently delivered premium services including public relations, advertising, recruitment, content development, media, and management. Led by Mr. Vishal Parmar, the Founder and Chief Executive Officer, VAP Group stands at the forefront of innovation, shaping the future of blockchain technology. Under his mentorship, the company has focused on pioneering strategies in PR marketing, influencer marketing, bounty campaigns, conferences, and campaigns, setting new benchmarks in the industry. What truly sets VAP Group apart is its dedication to creativity, uniqueness, and holistic solutions. By adopting an innovative and forward-thinking approach, VAP Group has distinguished itself as a beacon of innovation amidst the competitive landscape of blockchain consultancy.

VAP Group is the organizer of Global Blockchain Show and Global AI Show, extraordinary platforms poised to redefine the landscape of blockchain and AI technology respectively, offering dynamic gatherings where the brightest minds converge to unlock the potential of these transformative technologies.

From Ethena’s stablecoin to Bitcoin, for the first quarter of 2024 according to the CoinGecko report, the cryptocurrency market has experienced significant changes and trends that could redefine its future.

The rapid rise of Ethena’s USDe stablecoin according to CoinGecko

One of the most surprising developments has been the launch and explosive growth of Ethena USDe.

This new entrant in the stablecoin market has quickly reached a market capitalization of 1.5 billion dollars, positioning itself among the top five largest stablecoins and dethroning TrueUSD (TUSD) from its rank. 

The rapid rise of Ethena USDe can be attributed to its strong support and the growing market demand for a stable digital currency in volatile market conditions. This reflects a broader trend in which traders and investors are increasingly turning to stablecoins as a safe haven and reliable means of exchange.

The success of Ethena USDe highlights the dynamic nature of the crypto market, where new technologies and solutions can quickly emerge and reshape the landscape. This development not only impacts other stablecoins but also the entire financial technology sector, influencing how businesses and consumers conduct transactions in a digital economy.

Even the performance of Bitcoin in the first quarter has captured significant attention, with its price rising by 68.8% setting a new all-time high of $73,098.

This increase in the value of Bitcoin can be partly attributed to the growing interest of institutions, as highlighted by the significant assets under management (AUM) of US Spot Bitcoin ETFs, which have exceeded $55.1 billion.

Institutional adoption signals a growing recognition of Bitcoin’s potential both as a hedge against inflation and as a mainstream investment asset.

Other key insights from the report

The CoinGecko report also highlighted several other important trends in the cryptocurrency market:

The Ethereum ecosystem continued to expand, with ristaking on EigenLayer reaching 4.3 million ETH, indicating a strong quarterly growth of 36%. This suggests a solid confidence and long-term commitment from Ethereum stakeholders.

The market segment driven by memecoins, especially those of Solana, has seen a huge increase in market capitalization, growing by $8.32 billion. This increase reflects the ongoing enthusiasm and speculative interest within certain niche communities in the crypto space.

Non-fungible tokens (NFT) have maintained their popularity, with trading volumes reaching $4.7 billion in the top 10 markets. Magic Eden has emerged as a market leader, highlighting a diverse and vibrant ecosystem surrounding digital art and collectibles.

The trading volumes on centralized exchanges (CEX) have reached the extraordinary figure of 4.29 trillion dollars, the highest since the fourth quarter of 2021, signaling robust trading activity and increasing market participation.

The dominance of Ethereum in decentralized exchanges (DEX) has decreased, with its market share falling below 40%. This decline is indicative of the increasing relevance of other blockchain platforms that are starting to capture more market share in the DEX landscape.

Conclusion

The first quarter of 2024 has been a crucial period for the cryptocurrency industry, marked by significant changes in market dynamics and the rapid emergence of new players like Ethena USDe. 

These developments reflect a maturing market that is becoming increasingly diversified and integrated into the broader financial landscape. 

With the increase of institutional interest and the emergence of new technological advances, the cryptocurrency market is destined to further evolve, potentially leading to a wider adoption and integration into daily financial practices.

Between 2023 and 2024, the price of Nvidia’s shares experienced a spectacular boom, in some ways even similar to that of Bitcoin. 

However, these are two very different assets that are following different paths, so the only thing they really have in common is the boom in financial markets. 

The first price boom of Nvidia stocks: the stock follows Bitcoin

The Nvidia title (ticker NVDA) began trading on the Nasdaq even in the last century.

Until 2015 it had a fairly classic trend, with a boom during the speculative bubble of the dot-com at the end of the last century, when the price of its shares went from about $0.5 to over $3.5 in just 12 months, not followed by a big crash.

For example, in January 2002, it even reached over $6 for a brief moment.

Until 2015 inclusive, that is for a total of 14 consecutive years, it continued to fluctuate between about $0.7 and $9, on levels increasingly higher than those of 1998, but not much higher than those of 2002. 

Although the most spectacular boom occurred in the last few months, the stock had actually started to rise again as early as 2016, so much so that by the end of 2018 it had even exceeded $70. 

So during the dot-com bubble, and in the years that followed, it had recorded a sensational +1,800%, before correcting a bit and resuming its upward path in 2016, when it marked another +680% in just two years. 

At that point in less than 20 years, he had accumulated gains worth an incredible +13,000%. 

Bitcoin is not 20 years old, but only 15, even though since it has been traded on exchanges the percentage of profit is even higher, and by far, than that of Nvidia from 1999 to 2018.

The second boom

The Nvidia stock price, however, did not stop at $73 in October 2018. 

Actually in February 2020, shortly before the start of the pandemic, the price of its shares had returned above $70, after a brief correction, and with the financial markets crash in March 2020 it only dropped to $45, but only to start growing again from the following month. 

This second boom continued until 2021, setting a new all-time high just a few weeks after Bitcoin’s. 

In other words, between 2019 and 2021 it managed to climb to over $300, with another +370% after the +1,800% of the two thousand and ten years, and the +680% before the pandemic. 

At that point, the retracement of 2022 began, which affected a bit all financial markets, including Bitcoin, so much so that in October of the same year the price of Nvidia shares had dropped below $110.

It was still a value much higher than the $79 in February 2020, but its run was not over yet. 

NVIDIA Stocks: The third boom follows the price of Bitcoin

Indeed, in the course of 2023 the price of Nvidia shares has started to rise again. 

After rising above $300 in May of last year, it then soared even further to a record high of over $960 in March 2024. 

At that point, from the peak of 2021, it had recorded another sensational +181% in just over a year, bringing the gains since February 2020 to +1,100%. 

In summary, after recording a first +1,800% from 1998 to 2016, it has strung together another series of strong gains, in increasingly shorter times: +680% in two years from 2016 to 2018, followed by another +370% in two years from 2019 to 2021, interspersed with the crash of March 2020 for the beginning of the pandemic, and finally another +181% in just over a year between 2023 and 2024. 

The current price of about $824 is even 200,000% higher than the $0.4 in October 1999. 

But if a +200,000% increase in 25 years may seem like a lot to someone, it is important to remember that Bitcoin has recorded a staggering +100,000,000% increase in the last 14 years. 

However, the real difference is mainly made by the initial price of BTC, which was almost zero, because if we instead take as a reference the price it had at the end of 2012, at the time of the first halving and before the start of the first speculative bubble, the gain “reduces” to a still impressive +600,000%. 

Although there are no major stock titles that can compete with Bitcoin in recent times in terms of percentage gain in the last 15 years, Nvidia among the top stock titles is probably the one that comes closest in absolute terms. 

The timing of growth

The growth of Nvidia’s stock price in 1999 and 2000 was most likely largely due to the so-called dot-com bubble. 

But since then the price of Nvidia shares has never returned to pre-bubble levels, it means that it was not just a speculative bubble. 

Nvidia was one of the few stocks that did not collapse after the dot-com bubble burst, and what it did afterwards has clearly demonstrated that its increase in value was organic and justified. 

Although in 2002 there was a strong retracement, from $6 to less than $1, already the following year the price of its shares had returned above $2, and in 2006 it had also returned above $5. 

So it can be said that the first growth phase, characterized by very strong fluctuations also partly due to the bursting of the dot-com bubble, lasted for a good eight years, although marked by several ups and downs. 

That phase was followed by practically nine years of sideways movement, characterized also by a downward excursion below $2. 

Things have changed since 2016, when a three-phase growth cycle began that still seems to be ongoing. Since then, the overall gain acquired is 9,000%, in less than eight years. 

This phase of growth, however, has not been uninterrupted, but divided into three phases. 

The first one lasted until October 2018, and was followed by a not particularly dramatic retracement. 

The second one started after the outbreak of the pandemic, and continued until the end of 2021. 

The third one, started last year, could still be ongoing. 

London, United Kingdom, April 24th, 2024, Chainwire

Today marks a monumental day as Hipposol, A solana memecoin proudly announces the launch of $hippos pre sale round for early participants. Drawing vibrant inspiration from the mighty and playful hippopotamus, the $Hippos token presale event begins today April 24th 2024, with a sale duration of 26 days.

Hipposol Ready To Pioneer A New Era in Memecoin

$Hippos isn’t merely another entry in the memecoin ledger; it heralds a new era where community, technology, and sheer fun merge to forge genuine value. “With $Hippos, we’re not just redefining memecoins; we’re revolutionizing how a memecoin community and digital currency coexist. This journey isn’t about speculative trading alone; it’s about crafting a community empowered to steer its course and reap substantial growth,” said King Hippo, the revered leader of the Hipposol herd.

The Hipposol team believes the $Hippos pre sale event means more than buying a token; it means joining a memecoin herd that leads. With Hipposol community-driven development approach, users insights and votes directly influenced by the $Hippos holders, Hipposol is set to be next meme sensation on Solana.

$Hippos Presale Facts:

Token Presale Rate: 1 SOL = 150,000 $Hippos

Minimum Buy: Dive in with as little as 0.5 SOL

Users can join the Solana meme adventure with Hipposol and experience a new breed of memecoin that’s ready to make waves.

For more updates and news on Hipposol memecoin;

Website | $Hippos Sale portal | Twitter | Telegram 

Hipposol is the source of this content. This Press Release is for informational purposes only. The information does not constitute investment advice or an offer to invest. Investing in cryptocurrencies can be volatile and dangerous.

Contact

King Hippo
Hipposol
pod@hipposol.xyz

The crypto project “proof-of-personhood” known as Worldcoin (by Sam Altman) has recently taken significant steps to consolidate its position both on the international stage and in government relations, particularly with Malaysia.

The CEO of Tools of Humanity and co-founder of Worldcoin, Alex Blania, together with Sam Altman, another co-founder known for his role in OpenAI, met with Malaysian leaders, including Prime Minister Anwar Ibrahim, in an attempt to strengthen ties with the government.

Sam Altman and Worldcoin’s commitment to privacy and personal data

This move follows a series of regulatory interventions that have questioned the project’s practices, especially regarding the collection of biometric data through iris scanning, a technology that is at the core of Worldcoin’s offering. Despite the controversies, meetings in Malaysia seem to demonstrate a growing interest from some governments in the potential of such technologies for digital identification.

Worldcoin has faced intense criticism and government scrutiny in various countries, including Spain and Portugal, which have temporarily banned the collection of personal data through the project. In response, Worldcoin has implemented measures aimed at reassuring users and regulators of their seriousness in protecting privacy and personal data. Among these initiatives is the launch of “Personal Custody”, which allows users to have full control over their biometric data, a move that has significantly alleviated some of the concerns raised.

During the meetings with officials from the digital ministry of Malaysia, Blania presented the new measures adopted by the project to ensure the security and privacy of user data. These dialogues marked an important phase for Worldcoin, which is seeking to expand its influence and recognition globally, demonstrating its willingness to comply with local and international regulations.

The Malaysian Prime Minister Anwar Ibrahim and other government members have expressed a cautious interest in the potential of the project, emphasizing the need for careful regulation to prevent abuses of personal data. These meetings reveal a mutual interest between governments and cryptocurrency entities to explore how innovative technologies can be safely and ethically integrated into the social and economic fabric.

Challenges and future perspectives

Despite the enthusiasm, Worldcoin’s journey is not without challenges. Issues related to privacy and user consent remain at the center of the debate. Furthermore, the involvement of high-profile figures like Altman and Blania not only attracts attention, but also scrutiny of their operations and the ethical implications of the technologies they promote.

In conclusion, the interaction of Worldcoin with the Malaysian government represents an emblematic example of how modern technological initiatives can collaborate with state authorities to promote safe and regulated innovations. 

Worldcoin’s approach, aimed at strengthening trust through data protection measures and personal custody, emphasizes the importance of addressing privacy concerns in an increasingly complex digital era. 

The meetings between the co-founders of Worldcoin and Malaysian leaders not only open up new avenues for dialogue and cooperation, but also lay the foundation for a future in which blockchain technology and digital identification can coexist harmoniously with government regulations. 

This collaboration could serve as a model for other countries and technological projects, emphasizing that responsible innovation is the key to success in a globalized and interconnected world.

PRESS RELEASE

The Olas Foundation’s protocol seeks to harness the power of blockchain technology to make all non-private information freely available and to drive positive change in the media landscape.

Founded in Dublin by Irish entrepreneur and crypto veteran Ciarán Murray, Olas tackles the economic precarity facing media with the introduction of novel funding mechanisms and tackles the dissemination of disinformation through open but collusion-resistant review protocols, providing a viable alternative to traditional media.

Dublin, 23rd April 2024 – Today marks the launch of The Olas Foundation, a non-profit that stewards protocol development, harnessing blockchain technology to democratise access to non-private information, with the goal of becoming the most trusted media platform on the internet. Centred around the idea of “Decentralised Knowledge”, Olas seeks to create a truly ownerless media institution based on open internet protocols rather than privately owned platforms. Recognising the current problems that  exist in the media industry, Olas’ platform will provide an economically sustainable solution to journalists and news institutions, minimising the influence of concentrated interests, and incentivising the publication of unbiased and accurate information.

pic.twitter.com/qMjlH4Rv4f

— Olas Protocol (@OlasProtocol) April 23, 2024

Founded by serial entrepreneur, Ciarán Murray, the platform aims to offer an alternative to the current knowledge sharing system. Olas is revolutionising how we share and consume information; its decentralised structure ensures that no singular entity holds control, while disseminating power to users. To achieve this, Olas looks to implement market and reputation-based protocols to incentivise accuracy, integrity and reliability in the platform’s content to create a highly trustworthy information platform. Its quality control mechanism incentivises knowledgeable reader participation in the review of information published, ensuring high standards are adhered to in the production of news and information.

Speaking on the launch of the project, Ciarán Murray, CEO and Founder said, “We are passionate about the preservation of high-quality journalism and scientific research, while increasing its availability to the public. The current media industry is facing a dire economic situation and is plagued with bias and a resultant lack of trust. Olas aims to minimise bias and return more value to content creators by removing hierarchical control of the media.

It also introduces a subsidy-based economic model that will harness new payment technologies to achieve scale, thus providing an alternative to the subscription and advertising models that are failing to sustain the sector. Olas is providing a solution to this problem.”

As CEO and Founder, Murray holds a wealth of experience in the blockchain and Web3 space. Aside from advising on numerous blockchain projects throughout the years, and releasing a synthetics assets proof-of-concept last year, Ciarán previously worked in the media industry for British Sky Broadcasting, making him not only well placed to understand the issues facing the media industry but also how to apply blockchain and other distributed technologies to remedy them. 

Olas’s content will be composed of independent contributions from various individuals, with payouts to contributors dependent on performance in review markets. Its quadratic funding model provides the industry with a much more suitable and sustainable economic model for information than the advertising and subscriptions models.

The platform will also enable payments to contributors in the form of tipping, which will be as easy as liking  a post on social media. Murray expects the model to return far more value to journalists and scientists than legacy systems. 

The information on the Olas database will be freely accessible to all. Review markets will decide the quality and accuracy of information, with funds returned to the protocol from low quality content being recycled into supporting future contributors. Olas’ upcoming token sale will provide the opportunity to support the company’s mission and contribute to the future of the organisation.

About Olas

Olas is a publicly accessible publishing protocol and database of vetted informational sources, such as news, opinions and scientific articles. Founded by CEO Ciarán Murray in 2024 as the solution to the contemporary information crisis, Olas is a viable alternative to the current knowledge sharing system. Powered by blockchain technology, with economic mechanisms in place to ensure accuracy and minimise bias in the information on the platform, Olas looks to become the future of media and information sharing globally. 

About Ciarán Murray

Olas was founded by Ciarán Murray, a seasoned veteran of the blockchain industry. Aside from advising on numerous blockchain projects down the years, and releasing a synthetics assets proof-of-concept last year, Ciarán previously worked in the media industry for British Sky Broadcasting. He is not only well placed to understand the issues facing the media industry but also how to apply blockchain and other distributed technologies to remedy them. 

The Central Bank of Nigeria (CBN) has recently found itself at the center of a heated controversy related to crypto regulation, after issuing a directive that has sparked contrasting reactions among industry players.

This directive requires all banks and financial institutions to identify individuals or entities that carry out transactions with cryptocurrency exchanges, applying a Post No Debit (PND) instruction to them for six months.

Dichotomies in crypto regulation in Nigeria

An NPD instruction limits the account holder from making debit transactions, effectively freezing the movement of funds for the specified period. This move is seen as an attempt to curb cryptocurrency transactions, especially those made through peer-to-peer (P2P) methods, which the CBN argues could be used for illegal activities, including the purchase and sale of USDT (Tether) in an unregulated manner.

The circular issued by the CBN seems to go against previous policies. In fact, in December 2023, a ban that prohibited banks from facilitating transactions for cryptocurrency exchanges was revoked, a policy introduced almost two years earlier.

However, the escalation of the devaluation of the local currency, the naira, and an inflation rate that has reached 29.9%, have pushed the government to reconsider its position on cryptocurrency platforms. The CBN has disabled websites associated with cryptocurrency trading, which had become known for establishing informal valuations of the naira, perceived as a threat to the financial stability of the country.

Binance Case in Nigeria

An emblematic example of the tensions at play is the case of Binance, one of the largest cryptocurrency exchanges in the world, which has undergone significant scrutiny by the CBN. The Central Bank has raised concerns about “suspicious financial transactions” that allegedly occurred through Binance Nigeria in 2023. According to CBN chief Olayemi Cardoso, approximately 26 billion dollars flowed through Nigeria via Binance that year, originating from unidentified sources and users.

The Binance executive, Tigran Gambaryan, based in the United States, is detained in Nigeria, and now faces five charges related to money laundering following meetings with Nigerian officials on regulatory compliance.

Facing growing criticism and accusations of unjustified freezing of accounts related to cryptocurrencies, the CBN has had to publicly deny such claims. The Bank argues that its actions are guided by the need to protect the integrity of the Nigerian financial system and to prevent illicit activities that could be disguised under the cover of crypto transactions.

Final reflections on crypto regulation in Nigeria

The situation in Nigeria reflects a broader dilemma that many governments are facing: how to balance the opportunities offered by cryptocurrencies with the need to prevent financial and criminal risks. 

The response from Nigeria, with its recent directive and freezing of suspicious accounts, suggests an approach of caution and strict control, but also raises questions about how such measures impact legitimate users and the future of crypto trading in the country.

The evolution of these policies will be crucial not only for investors and operators in the cryptocurrency sector, but also for Nigeria’s position in the global financial landscape.

In a recent legal move that highlights the growing tension between the cryptocurrency sector and regulatory bodies, the Blockchain Association has initiated a lawsuit against the United States Securities and Exchange Commission (SEC). 

This legal battle revolves around the recent expansion by the SEC of the term “dealer,” a definition that could now include users and decentralized finance (DeFi) projects, triggering significant controversy and debates within the cryptocurrency community.

Context of the Controversy between blockchain association and SEC

The problem started in February, when the SEC announced a change to the rule that essentially expanded the scope of what constitutes a “dealer” in financial markets. Traditionally, this term applied to entities actively involved in the buying, selling, or trading of securities.

However, the updated definition is extended to various participants within the DeFi ecosystem, requiring them to register as securities exchanges or brokers.

This regulatory change is problematic for several reasons. First of all, DeFi protocols are largely autonomous platforms that operate without traditional managerial structures or central supervision. 

The obligation to register as a securities exchange poses a significant challenge, as these platforms do not easily align with the operational and regulatory frameworks established for conventional financial institutions.

The cryptocurrency industry has strongly opposed what it perceives as excessive regulation by the SEC. Notably, SEC Commissioner Hester Peirce, affectionately known as “Crypto Mom” for her favorable stance towards cryptocurrencies, has criticized the rule change. 

It argues that it imposes unfair burdens on market participants and could stifle innovation across the broader financial market.

Legal and Regulatory Implications

The Blockchain Association, in collaboration with the Crypto Freedom Alliance of Texas, has presented their case in a federal court in Texas. They are seeking a declaratory judgment that would challenge the SEC’s rule change on several fronts. 

The main one among these is the argument that the expansion of the definition of dealer by the SEC violates the Administrative Procedures Act (APA), which governs the process through which federal agencies develop and issue regulations.

The lawsuit argues that the SEC has exceeded its limits by imposing regulations without the appropriate authority, especially regarding an industry that operates on fundamentally different principles than traditional financial systems. Additionally, the association claims that the SEC did not adequately consider input and feedback from the cryptocurrency community during the rule-making process, thus violating the APA.

The case also highlights a broader issue: the lack of clear and appropriate regulatory frameworks for cryptocurrencies and DeFi projects. This ambiguity leads to uncertainty and risk for investors and operators within the crypto space, who often find themselves navigating a complex and sometimes contradictory regulatory landscape.

Conclusion

This legal challenge is not just about a single definition or modification of the rule; it represents a critical moment in the ongoing dialogue between the cryptocurrency industry and regulatory bodies. The outcome of this case could set a precedent on how regulatory agencies interact with emerging technologies and could influence future policies not only in the United States but globally.

As the case progresses, it will be closely watched by industry participants, regulators, and legal experts. A decision in favor of the Blockchain Association could limit regulatory excess and promote a more innovation-friendly environment in the cryptocurrency sector. On the contrary, a decision in favor of the SEC could encourage the agency to continue its expansive interpretation of its regulatory authority, potentially leading to stricter controls on the cryptocurrency industry.

In conclusion, the Blockchain Association’s lawsuit against the SEC is more than a legal dispute; it is a fundamental struggle for the future of financial innovation. At its core, this battle seeks to ensure that emerging financial technologies can thrive within a framework that protects investors while fostering innovation and economic growth. The cryptocurrency community remains hopeful that the outcome will lead to a more balanced and clear regulatory approach.

This article was paid for*

As the clock ticks down, Bitcoin Minetrix prepares to go live on Uniswap on April 30th at 10am UTC. Their presale will end 2 days earlier, on April 28th.

This milestone marks the culmination of an extensive crypto presale that commenced in September of the previous year, during which the endeavor successfully amassed an impressive $13.2 million in funding.

A Novel Approach to Bitcoin Mining

Bitcoin Minetrix introduces a concept called “stake-to-mine,” aiming to revolutionize the world of Bitcoin mining. 

Departing from traditional mining methods that demand substantial investments in specialized hardware and electricity, this platform empowers users to engage in Bitcoin mining by staking the native $BTCMTX tokens. 

In exchange, participants receive non-transferable ERC20 token credits, which can be redeemed for Bitcoin cloud mining time or a portion of the mining yields, granting users full decentralized control over their mining operations.

Tokenized Cloud Mining Ecosystem

At the core of Bitcoin Minetrix lies a tokenized cloud mining model that enables users to deposit $BTCMTX tokens and receive cloud mining credits, effectively establishing a pay-as-you-go mining system. 

Once these credits are transformed into Bitcoin, users can seamlessly transfer their earnings to personal wallets or liquidate them on cryptocurrency exchanges. 

This user-friendly and efficient approach aims to address the challenges faced by casual miners in traditional Bitcoin mining while mitigating the risks associated with fraudulent cloud mining schemes.

Token Sale and Allocation Details

Bitcoin Minetrix’s token presale is structured into 39 stages, with each stage featuring an incremental increase in token price. The project’s goal is to raise $15 million through this presale, with a total supply of 4 billion $BTCMTX tokens. 

The tokens sold during the presale will be allocated as follows: 42.5% to fund Bitcoin mining operations, 35% for marketing initiatives, 15% for community-driven projects, and 7.5% for staking rewards.

The ongoing final phase of their crypto presale presents the final opportunity for interested parties to acquire BTXMTX tokens before the project goes live. This window of time represents the last chance to purchase BTXMTX tokens directly from the project’s website before its Uniswap listing and future CEX listings.

#BTCMTX Announcement!

The final stage of #BitcoinMinetrix will be ending on April, 28th at 12 pm UTC!

Followed by the Claim event scheduled for April, 30th at 10 pm UTC!

Mark your calendars to ensure you don't miss out on these important dates! pic.twitter.com/s8RSTqlj6I

— Bitcoinminetrix (@bitcoinminetrix) April 22, 2024

User Experience and Transparency

Participants can acquire $BTCMTX tokens during the presale or on decentralized and centralized cryptocurrency exchanges after the launch. As explained, by staking these tokens, users gain access to cloud mining credits, which are non-tradable ERC-20 tokens that can be burned to obtain Bitcoin cloud mining power. 

Alternatively, users can directly burn $BTCMTX tokens to receive cloud mining credits, entitling them to a share of the mining revenue proportional to the number of credits or the amount of cloud mining power they hold.

Bitcoin Minetrix’s cloud mining credits are meticulously designed to streamline the cloud mining process into a flexible, pay-as-you-go model, enhancing accessibility and efficiency for users.

The platform’s commitment to transparency, facilitated by on-chain transactions, helps mitigate the risk of fraud, while its smart contract technology automates various operational aspects, ensuring a seamless user experience.

Marketing Outreach

To raise awareness and attract potential users, Bitcoin Minetrix is actively promoting its project through various media outlets, including ReadWrite, CaptainAltcoin, cryptonewsZ, and numerous others.

Moreover, ClayBro, a YouTuber with over 126,000 subscribers, posted a video highlighting the project’s innovative approach to Bitcoin mining. In the video, ClayBro praised Bitcoin Minetrix’s stake-to-mine concept and its potential to disrupt the traditional mining landscape. 

Other popular crypto influencers and YouTubers have also expressed their enthusiasm for the project, further fueling the excitement surrounding its imminent launch.

Conclusion

As the countdown to Bitcoin Minetrix’s launch nears its conclusion, the anticipation surrounding this cloud mining platform continues to build. 

By introducing a stake-to-mine model and a tokenized approach to cloud mining, Bitcoin Minetrix aims to disrupt the traditional Bitcoin mining landscape, making it more accessible and transparent for casual users.

The project’s emphasis on user-friendliness, efficiency, and decentralized control over mining activities sets it apart from conventional cloud mining services, which have often been plagued by scams and lack of transparency. 

With its smart contract technology and on-chain transactions, Bitcoin Minetrix offers a secure and automated mining experience, ensuring that users maintain full control over their mining activities.

While the platform’s ability to deliver after the launch remains to be seen, one thing is certain: the initial success of Bitcoin Minetrix’s presale looks promising. 

Visit $BTCMTX now

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

Important news for the Runes protocol, an integral part of the Bitcoin ecosystem, which quickly gained popularity after its launch, which coincided with the fourth halving of the network on April 20th.

Specifically, transactions related to the protocol accounted for 57.7% of the total during the halving day. Below we see all the details. 

Bitcoin’s Runes represents 57.7% of transactions on halving day: the latest news

As anticipated, launched on the day of the Bitcoin halving, the Runes protocol allows for embedding data directly into Bitcoin transactions, going beyond simple financial transactions and enabling the insertion of additional information.

Unlike other innovations Bitcoin such as Ordinals and BRC-20 tokens, which have different approaches for data storage and management, Runes uses the “increased transactions” method.

This allows you to insert arbitrary data into transaction results (UTXO). This system makes runes suitable for storing different types of data, from messages to more complex scripts.

The key distinction of Runes compared to the Ordinals, which encode data in individual satoshis, lies in its ability to connect a wide variety of information to specific transaction outputs.

Furthermore, Runes differs from BRC-20 tokens, a standard similar to Ethereum’s ERC-20, designed for issuing and managing tokens on Bitcoin sidechains, in particular the RSK Smart Contract Network.

The popularity of Runes leads to congestion on the Bitcoin network after the halving

The Runes protocol operates using Unspent Transaction Outputs (UTXO), which represent amounts of Bitcoin that have not yet been spent. 

The OP_RETURN function, used by the Runes protocol, allows to embed data in transactions without adding clutter to the network. 

However, the popularity of the protocol can lead to congestion and higher fees due to the increased volume of transactions it generates.

The strategic launch of Runes during the halving has attracted great attention, taking advantage of the moment of interest when miner rewards are halved and the market discusses the future price of Bitcoin.

This visibility has led to a significant impact on the Bitcoin network, with the runes representing 57.7% of all transactions on the day of the halving, April 20th. 

Despite the protocol design to minimize overhead, the popularity of Runes can still contribute to network congestion.

During the weekend following the halving, Runes continued to dominate transactions on the Bitcoin network, representing 51.6% of total transactions on April 21st. 

However, their dominant position decreased by April 22, dropping to 42.5%, with a return to 56.5% of Bitcoin financial transactions.

Bitget Wallet embraces the Runes protocol 

The rapid rise of the Runes protocol has led Bitget Wallet to integrate support for it in their DApp browser, creating a dedicated category within the wallet. 

Now, users can interact directly with DApps for engraving and trading runes through the Bitget Wallet.

The Chief Operating Officer of Bitget Wallet, Alvin Kan, explained the reason for the success of the Runes protocol. Accepted as the authentic native protocol for issuing assets on Bitcoin, it has received strong support from the market. 

The Pre-Runes projects, like Runestone, have reached valuations exceeding $500 million before the official launch of the Runes Protocol.

The visibility of the protocol has increased thanks to the support of the main trading platforms, attracting the attention of many Western users. 

The growing interest has also led to an increase in transaction fees on the Bitcoin network, with fees reaching 2,000 sats/vb. This increase has been caused by the increased activity around the Pre-Runes projects.

Alvin sees great potential for the Runes Protocol, despite short-term challenges due to network congestion and liquidity issues. L

His positive vision is supported by the growing enthusiasm of the Bitcoin community, which includes developers, enthusiasts, and investors from around the world. 

With the support of major trading platforms, it is expected that the Runes Protocol will continue to gain traction, improving liquidity and driving innovation within Web3. 

“I am confident about the future of the Runes Protocol. This is just the beginning of a global phenomenon that will be a focal point in Web3 for innovation.”

The famous crypto exchange Binance has launched a new interesting tool for trading on spot pairs. In the futures market, it had already been launched in October of last year, but only in some regions. 

This is the so-called copy trading in the spot market.

#Binance is excited to announce that Spot Copy Trading is coming soon.

Calling all pro traders to join the #Binance Lead Traders Tournament!

Find out more https://t.co/xWSYDlNknV pic.twitter.com/Q1GnsvbaKF

— Binance (@binance) April 23, 2024

Copy trading on Binance: the new tool of the crypto exchange

There are already other crypto exchanges that support tools like the one launched yesterday by Binance, so it was a bit surprising that the world’s largest crypto exchange had not yet activated spot copy trading.

The exchange has also activated two promotions, which will last until May 8th, to promote the launch of the new feature. 

Copy trading spot is a feature that allows users to copy the real-time operations of experienced traders, called “lead traders”. 

Indeed, copy trading allows lead traders to share their trading skills and decision-making abilities, while giving them the opportunity to unlock extra rewards, and above all to earn a share of the profits from traders who copy their operations.

So on one side there will be experienced traders who will agree to participate in the initiative by actually making their trading strategies available for other users to copy.

On the other hand, there will be common users who will be able to copy their operations in an attempt to replicate their profits. Obviously, however, in case of losses, these would also be replicated.

Indeed, copy trading is a feature that allows users to copy the real-time operations of experienced traders, called lead traders. 

Lead traders will be able to display their own operations, both to improve their reputation and professional credibility, and to receive extra rewards and a share of the profits from the traders who copy their operations.

Other users, on the other hand, will be able to copy the operations of the lead traders, if they want, in the hope of obtaining better profits than they could achieve by operating independently. 

Obviously there is still no guarantee of profit. 

How to proceed

In order to use this new feature, you need to be registered and verified on Binance, and have suitable funds to be used in this way.

To use spot copy trading on Binance, traders will need to transfer their assets from the Spot Wallet to the Spot Copy Trading Wallet. This measure is taken to prevent assets from being withdrawn, transferred, or used for other operations while being used for copy trading.

So there will be two spot wallets, one for traditional spot trading and one for copy trading spot. Users will have to decide what to keep in the first one, and eventually what to transfer to the second one, and only the funds moved to the Spot Copy Trading Wallet can be used for copy trading. 

Furthermore, from the Spot Copy Trading Wallet it will not be possible to withdraw assets directly, but in case you want to withdraw them, you will have to move them first to the traditional spot wallet of the exchange, from where you can obviously withdraw them with the usual procedure. 

In other words, the new Copy Trading Wallet Spot will be a sort of closed extension of the exchange’s spot wallet, usable only for copy trading operations, or deposits or withdrawals to and from the normal Spot Wallet. 

The procedure to be able to use the new copy trading feature on Binance has been described in a specific guide published by the exchange in the FAQ section of their official website.

The other exchanges

This time the world’s largest crypto exchange arrived slightly late.

Indeed, although the functionality of copy trading has not been around for very long, other exchanges have been offering it for years. 

However, Binance’s almost absolute dominance among centralized crypto exchanges reveals that, until now, offering copy trading has not been particularly important for an exchange of this type. After all, the majority of trading volumes are mainly driven by derivative markets, such as futures and options, rather than the spot market itself. 

For example, in the last 24 hours, the crypto derivatives market on Binance recorded a trading volume of over $49 billion, while the spot market on the same exchange stopped at just over $20 billion, which is less than half. 

However, if we add up the volumes of all derivative exchanges, the figure becomes colossal, so much so that only the top ten together exceed 250 billion dollars daily, while the top ten spot markets stop just above 100 billion. 

The risks of the new Binance exchange tool

However, it is necessary to specify that copy trading involves additional risks. 

Indeed, even by copying the strategies of speculators considered capable and reliable, there is always the risk that these strategies may turn out to be losing ones. In theory, it should still be lower than DIY, in case the trader is not experienced, but this does not mean at all that it is a risk-free choice. 

The fact is that users who choose to do copy trading will have the opportunity to set up the same operations of the lead traders to be automatically executed with their funds, so if the latter lose, so will those who rely on them.

Obviously, when the lead traders make a profit, those who have copied their operations will also profit.

After confessing to breaking money laundering laws, Changpeng “CZ” Zhao, former CEO of Binance, the leading global cryptocurrency exchange, has been sentenced to three years in prison. 

Let’s see below all the details. 

“CZ” Zhao, former CEO of Binance, sentenced to prison 

As anticipated, Changpeng “CZ” Zhao, former CEO of Binance, will have to serve three years in prison for allowing the cryptocurrency exchange to violate federal laws on sanctions and money laundering.

This sentence was made public Tuesday evening by the United States Department of Justice.

The lawyers of the Department of Justice have filed a condemnation note stating that Zhao must serve 36 months in prison and pay a fine of $50 million.

This after having pleaded guilty to violating the Bank Secrecy Act last November.

The document emphasizes that the conviction will send a clear message to Zhao and the entire world: violating the laws of the United States for profit carries significant consequences.

Binance and Zhao: from 18 months of plea bargaining to a harsher sentence

Initially, Zhao faced up to 18 months in prison according to the terms of his plea deal. 

However, the Department of Justice argued that the extent of Zhao’s misconduct was much broader than expected, making a harsher penalty necessary. 

Due to the lack of an effective anti-money laundering program on Binance, numerous illicit actors have exploited the exchange to conceal the origin of funds.

This has happened through cryptocurrency mixers, transactions related to ransomware attacks, and the transfer of money from illegal activities such as the darknet market and exchange hacks.

The Department of Justice stated that sentencing guidelines are not adequate to punish misconduct of this magnitude, and the $50 million fine, already agreed upon by both parties, reflects the seriousness of the violations committed.

Zhao has also waived the right to appeal a sentence of up to 18 months. The hearing, originally scheduled for the end of February, has been postponed to April 30.

Since appearing in court in Seattle, Washington, Zhao has not been able to return to Dubai, where his partner and some of his children live.

Even Binance, the world’s largest cryptocurrency exchange, has admitted guilt to its charges and agreed to pay a massive fine of $4.3 billion.

Furthermore, Binance will accept the supervision of a controller appointed by the court, whose name has not yet been announced.

The Philippine SEC requires the removal of Binance apps from Google and Apple app stores

The Philippine authorities are stepping up their action against Binance, the world’s largest cryptocurrency exchange, which has been facing issues in the country since 2023. 

The Philippine Securities and Exchange Commission (SEC) has sent separate letters dated April 19 to Google and Apple, requesting the removal of apps operated by Binance from the Google Play Store and the Apple App Store, respectively.

According to the president of the SEC, Emilio B. Aquino, the presence of Binance apps represents a threat to the security of investments of Filipino citizens. 

Binance’s apps and websites violate local laws, and their removal is seen as a necessary measure to prevent further expansion of illegal activities and protect the public from potential economic harm.

The Philippine SEC had already warned the public about the use of Binance and had started considering blocking the website and other Binance platforms as early as November 2023. 

The request for the removal of the apps by the SEC is part of a broader effort to protect investors and counter violations of national laws by the cryptocurrency exchange.

Uniswap is the most used crypto DEX in the world, and recently it has surpassed a historic milestone regarding trading volumes. 

Indeed, its cumulative trading volumes since launch have exceeded a total of 250 billion dollars. 

L2 volume on #Uniswap has officially passed $250B pic.twitter.com/NVvRA0IYii

— The Cryptonomist (@Cryptonomist_en) April 23, 2024

The trading volumes on the crypto DEX Uniswap

Uniswap is now a multichain decentralized exchange, as it was originally born on Ethereum but now also allows trading on various layer-2 solutions of Ethereum, including Arbitrum, Optimism, Polygon, and Base, as well as on other blockchains like BSC and Avalanche.

The one hundred billion dollars of cumulative trading volumes was exceeded exactly one year ago, while the two hundred billion was only surpassed in February. 

Note that the first surge, which began in 2021, had ended in November 2022, and that the second one had experienced a significant slowdown between July and August of last year. 

However, since the crypto markets have regained strength, following the news that BlackRock had applied for the issuance of an ETF on Bitcoin and that Grayscale had won in court against the SEC regarding its application for the issuance of an ETF, there has been a new surge in volumes on DEXs.

Between December 2022 and January 2023, the total daily trading volumes on Uniswap had also dropped below 400 million dollars per day, compared to for example a trading volume on Binance always much higher than one billion dollars. Uniswap is the largest decentralized crypto exchange in the world, and Binance is the largest centralized crypto exchange. 

With the new recovery of the crypto markets at the end of 2023, daily volumes on Uniswap had risen to over two billion dollars, and then skyrocketed in March 2024, reaching over 5 billion. 

In the second half of April they dropped a bit, down to 1.6 billion yesterday, but these are still figures much higher than last year. 

The trading volumes on centralized exchanges

Comparing the $1.6 billion trading volume on Uniswap’s DEX yesterday with that of the major centralized exchanges, the difference still appears huge. 

Limiting to spot volumes, Binance yesterday exceeded 20 billion dollars, while among the main exchanges in the world only two others have exceeded 3 billion (Bybit and Upbit). 

Coinbase has however surpassed 2 billion, as well as Upbit, while for example Kraken has recorded a total daily trading volume lower than that of Uniswap (1.1 billion). 

Yesterday’s data from Uniswap, however, is in line, for example, with that of Bitget, although far lower than that of the main CEX (Uniswap is the main DEX in circulation today). 

It is worth noting that the trading volumes in March 2024 on Uniswap are in line with those of November 2021, when many cryptocurrencies reached their all-time price peaks. 

It should be remembered that on Uniswap Bitcoin is not present, or rather there are only tokens on other chains (especially Ethereum) that replicate its value, and that Ethereum is the reference asset for DEXs like Uniswap.

For example, during this 2024 ETH has not yet set new all-time price highs, which remain those of November 2021. 

Volumes on other crypto DEX: Uniswap dominates the scene

Uniswap now clearly dominates among DEX, or decentralized exchanges. 

Considering the daily trading volumes, Uniswap alone holds more than 30% of all trading volumes recorded in the last 24 hours on all decentralized exchanges. 

In second place there is Raydium, with less than half of Uniswap’s volumes (about 800 million dollars), but closely followed by PancakeSwap with over 600 million. 

Note that Uniswap is the only DEX in the world that is currently surpassing one billion dollars in total daily trading volumes, and that only 6 other DEXs exceed one hundred million. 

This certifies that DEXs are still much less used than CEXs, among which there are at least 15 well-known exchanges that have exceeded $100 million in trades in just yesterday. If we also consider the lesser-known CEXs, the total number of those that exceeded $100 million in trades yesterday rises to over 50. 

So DEXs are still overall far behind CEXs, and among DEXs the dominance of Uniswap is undisputed, although not absolute. 

DEX and CEX

The reasons why CEXs continue to be much more popular than DEXs are numerous. 

The first one is definitely the ease of use. CEXs, for example, do not require self-custody of funds, and although this should actually be considered a limitation, it makes them much easier and more convenient to use, even if virtually more risky. 

Furthermore, CEXs are often created specifically with very simplified graphical interfaces to allow more or less anyone to use them independently, and often they also offer extremely simplified trading or investment tools that attract a large number of people. 

Moreover, they are also extremely fast and generally have relatively low fees, although some layer-2 based DEXs are now able to have even lower fees. 

The CEX are real companies that also do a lot of advertising, while the DEX are generally not companies, and they do much less advertising.

In other words, everything suggests that CEX will continue to attract many more users than DEX, thus offering a more liquid and faster market. The only real major limitation of CEX is the requirement for identity verification, while DEX can also be used completely anonymously. 

Tesla by Elon Musk recently revealed that it is holding its assets, in particular it has not sold any part of its $711,050,000 Bitcoin (BTC) during the first quarter of 2024. 

Let’s see below all the details. 

Tesla keeps its assets in Bitcoin

As anticipated, Tesla, one of the main automotive and clean energy companies owned by Elon Musk, announced that it did not sell any part of its $711,050,000 in Bitcoin (BTC) in the first quarter of 2024.

According to its quarterly update, the company has not made any purchases or sales of Bitcoin. Furthermore, Tesla did not mention any Bitcoin trading activity in its latest earnings report.

Previously, it was known that Tesla held 9,720 BTC. This marks the seventh consecutive quarter in which Tesla has maintained its Bitcoin portfolio without changes.

During the first quarter of 2024, the value of Tesla’s Bitcoin has grown significantly, thanks in part to the approval of the Bitcoin Spot ETF.

In perspective, Tesla’s BTC reserve could continue to gain value in the weeks following the next halving event.

The last time Tesla reduced its holdings was in Q2 2022, when it liquidated 75% of its Bitcoin stock, equivalent to about $936 million.

At the same time, Tesla reported a decrease in revenue in the first quarter of 2024, recording a total turnover of 12.3 billion dollars, well below the estimated 21.4 billion dollars. 

Furthermore, the free cash flow was negative for 2.5 billion dollars in the first quarter. These results come after a disappointing report for Q4 2023 and contribute to an overall less favorable picture for the company.

Despite falling short of revenue and profit expectations, Tesla’s stock rose 5% in after-hours trading following the release of the results. 

At the market close, Tesla shares were trading at $144.61, down 13% in the last five days and 28% in the last month.

Elon Musk and Dogecoin: Tesla could accept the meme currency in the future

Elon Musk and Dogecoin have a long history. As we know, the founder of Tesla was one of the first to support and promote the original meme token. 

Now that DOGE has consolidated its presence in the market, many wonder if Tesla will accept Dogecoin as a payment method.

During a recent visit to the Gigafactory in Berlin, Musk was asked if Tesla will start accepting the meme token. 

Although he did not give a definitive answer, the founder of Tesla replied: “At some point, Tesla should allow it”, suggesting that the company could be open to the idea.

Dogecoin entered the market in 2013 as a playful token, inspired by the famous Shiba Inu dog meme. 

In a short time, it has attracted global attention, especially after Musk declared it his favorite cryptocurrency on Twitter in 2019, causing the price of DOGE to skyrocket.

Returning to the interview in Berlin, Musk reaffirmed his support for Dogecoin with an enthusiastic “DOGE to the moon”. 

Even though the meme coin has not yet reached its historical peak, Musk’s statements have reignited the debate among cryptocurrency enthusiasts.

Tesla has previously accepted Bitcoin as a payment method, but has discontinued this practice due to concerns about carbon emissions related to BTC mining. 

Dogecoin, although based on a consensus model similar to Bitcoin, generates much lower emissions. This could make it a more environmentally friendly and secure alternative for Tesla compared to Bitcoin.

SPONSORED POST*

In a world that never sleeps—especially not the crypto market—one forecast has everyone talking: Tim Draper’s jaw-dropping prediction that Bitcoin could hit $10 million. Meanwhile, heating up the decentralized finance (DeFi) scene, Borroe Finance ($ROE), a rising star built on the Polygon blockchain, is gearing up for some serious growth, giving Chainlink a run for its money. Let’s break down these electrifying developments and see why everyone’s so hyped!

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Draper’s Daring Bitcoin Bet

Tim Draper, the legendary venture capitalist known for his knack for predicting Bitcoin’s meteoric rises, has done it again. This time, he’s set the bar sky-high, suggesting that Bitcoin could reach a staggering $10 million. Draper argues that Bitcoin’s fundamental advantages—like its decentralization, security, and borderless nature—will not only continue to attract investors but will fundamentally alter the global financial landscape. As traditional currencies face inflation and geopolitical pressures, Bitcoin shines as a beacon of stability and growth.

The Crypto Climate: HODLers and Newbies Alike Take Note

With Bitcoin currently experiencing another of its famous rallies, Draper’s prediction might not seem so far-fetched. Crypto veterans (the HODLers) and newcomers are buzzing, driven by a Fear of Missing Out (FOMO) on what could be the investment of a lifetime. The market sentiment is bullish, suggesting that even if $10 million seems a stretch, substantial gains are on the horizon.

Borroe Finance: The DeFi Game Changer

Switching gears to the DeFi domain, Borroe Finance is making headlines for all the right reasons. Positioned as a formidable competitor to Chainlink, Borroe Finance is leveraging the power of Polygon’s blockchain to deliver enhanced services that could redefine DeFi. But what’s so special about Borroe Finance? Let’s dive in!

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Innovations Driving Borroe Finance’s Buzz

Oracles and CrossFi: At the core of Borroe Finance’s platform are sophisticated oracles that deliver real-time, accurate data essential for DeFi transactions and smart contracts. Combined with CrossFi elements, Borroe Finance is bridging the gap between traditional finance and cryptos, offering a seamless integration that’s attracting massive investor attention.

Governance Tokens and Liquidity Pools: Borroe Finance isn’t just about technology; it’s about community. With governance tokens, investors get a say in the platform’s future, making it a truly democratic investment option. Plus, its liquidity pools are designed for optimal yield farming, offering stability and high returns.

NFT Gaming and Dapps: Borroe Finance isn’t stopping at finance. It’s also tapping into the booming NFT gaming market and building Dapps that promise to keep users engaged and invested.

Don’t Miss Out: Borroe Finance Presale

As Borroe Finance sails past a $3.8 million raise, with over 67% of the project already snapped up, the buzz is real, and time is ticking. The $ROE presale is priced attractively at just $0.020, making it a steal for anyone looking to get in on the next big DeFi project. Available for purchase with leading cryptocurrencies like Bitcoin, USDT, BNB, and ETH—or even via card payments—securing your spot in Borroe Finance’s promising future has never been easier.

Conclusion: The Thrill of the Crypto Ride

From Tim Draper’s eye-popping Bitcoin forecast to Borroe Finance’s groundbreaking entry into the DeFi and Chainlink arena, the crypto market is more vibrant and potentially lucrative than ever. Whether you’re here for the long-term gains or the cutting-edge technology in DeFi, the current market landscape is packed with opportunities. Don’t just watch from the sidelines—dive into the action, and who knows? You might just be part of the next big crypto revolution.

Learn more about Borroe Finance ($ROE) here:

Visit Borroe Finance Presale | Join The Telegram Group | Follow Borroe Finance on Twitter 

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