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

A Closer Look at the Adoption Surge

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

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

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

Blockchain Week 2024: Highlights

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

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

Government Address: Dr. Andrew Charlton MP

Industry Insights: Jonathan Inglis, Protocol Theory

Blockchain Builders Panel: Helen McHugh, ACS

Cloud Infrastructure: Dongliang Guo, Alibaba Cloud Intelligence

Financial Technology: Effie Dimitropoulos, Novatti

Payments: Ashima Chaudhary, Mastercard

Digital Assets: Vakul Talwar, Crypto.com

Custody: Julian Sawyer, Zodia Custody

AI and Web3: Caroline Page, Virtually Human

Tokenisation: Lisa Wade, DigitalX

Payments: Rob Allen, Australian Payments Plus

Digital ID: Verida

Digital Currency Exchanges: Jamie Elkaleh, Bitget

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

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

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

Blockchain Australia's Vision for a Blockchain-Powered Future

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

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

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

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

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

Spot Ethereum ETF approval even took SEC by surprise

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

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

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

Crypto becomes an electoral red-hot potato

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

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

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

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

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

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

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

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

Inflation and the economy are uppermost

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

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

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

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

Buterin Highlights Organizational Distinctions

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

Subcultures within Ethereum

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

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

Pluralism and Diversity

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

Buterin noted, 

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

Cultural Pluralism  

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

He stated, 

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

Encouraging Competition and Collaboration

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

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

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

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

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

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

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

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

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

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

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

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

Algotech: AI-powered Trading Platform with Algorithmic Prowess

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

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

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

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

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

For more details about this project:

Visit Algotech Presale

Join The Algotech Community

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

 

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

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

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

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

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

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

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

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

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

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

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

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

Visit Algotech Presale

Join The Algotech Community

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

 

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

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

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

Why Are Crypto Prices Down Today?

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

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

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

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

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

Key Support Levels for Bitcoin and Ethereum

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

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

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

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

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

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

New Meme Coins Remain In High Demand

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

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

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

— DogeVerse (@The_DogeVerse) May 23, 2024

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

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

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

 

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

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

 

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

 

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

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

Strategic Move Despite Solana’s Troubles

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

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

Leveraging Solana's Capabilities

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

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

PayPal’s Three-Step Adoption Approach

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

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

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

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

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

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

CYBRO Presale Runs Fast with 25M Tokens Already Sold Out

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

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

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

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

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

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

Starknet (STRK) Price Overview and Prediction

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

Mantle (MNT) Price Overview: Current Status and Predictions

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

Celestia (TIA) Price Moving Towards Resistance with Positive Trend

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

Conclusion

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

Site: https://cybro.io

Twitter: https://twitter.com/Cybro_io

Discord: https://discord.gg/xFMGDQPhrB

Telegram: https://t.me/cybro_io

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

 

Image: Stride Protocol x Namada

Stride, a leading liquid staking solution for the Cosmos and IBC ecosystem, announced its integration with Namada, a multichain privacy-focused Layer 1 blockchain protocol. The integration aims to extend data privacy across multiple blockchains and enhance utility and rewards for liquid staking token (LST) holders. According to the press release, the partnership will “unlock industry-leading data protection” for users, allowing LST holders to contribute to multichain privacy on Namada and receive rewards. 

Holders of Stride’s LSTs will be able to utilize their tokens on Namada by adding them to the shielded pool of assets. This will provide themselves and other Namada users with privacy and security over their data. By leveraging Namada’s multi-asset shielded pool, or MASP, holders of Stride’s liquid staking tokens can start earning shielding rewards – in addition to their staking rewards – for protecting their data and strengthening Namada’s shielded set. 

Speaking on the integration, Dieter Fishbein, CCO of Heliax, a public goods lab developing on Namada, stated:

“Stride is the leading liquid staking solution for the Cosmos ecosystem, so we’re excited to enable Namada shielding for users of all Stride LSTs. This integration is a big step towards the goal of bringing data protection capabilities to DeFi not just on Cosmos but the broader crypto ecosystem.”

Namada provides a shielded asset hub that rewards users for protecting the multichain. Namada’s MASP provides similar privacy assurances as Zcash but for many tokens and crypto coins. This enables Namada to provide modular data protection capabilities to any existing blockchain network or decentralized application, with support for shielded cross-chain transfers. As more tokens are held across the shielded pool, the privacy and data security on the platform increases, and more users are rewarded for strengthening the data protection for other users in the ecosystem. 

Enhanced Functionalities for Liquid Staking Tokens (LSTs)

Staking has grown into one of the most important components of decentralized finance (DeFi), allowing token holders to stake their coins and receive rewards for providing security to the blockchain. However, traditional staking has its pitfalls, in that users cannot access the value of their tokens once staked. Liquid staking aims to overcome this obstacle by allowing stakers to access the value of their staked tokens while still deploying their tokens as collateral. 

Consequently, Stride’s high-efficiency LSTs are particularly well-suited for Namada’s shielded set: users can leave their tokens shielded on Namada with the potential of NAM shielding rewards, while simultaneously generating staking rewards.

Via the collaboration with Namada, Stride users will be able to gain superior data protection, enabling them to hold and transact tokens and NFTs while maintaining full control over their data and personally identifiable information. Notwithstanding, users can shield their data when interacting with transparent blockchains and seeding new accounts. 

Holders of major LSTs on Stride will now be eligible for Namada shielding rewards ($NAM) if they add their LSTs to the shielded pool. This means that users can collect both staking rewards and shielding rewards on the same assets while enjoying industry-leading data protection guarantees. 

“Namada and Stride protocol will work together synergistically,” Stride Contributor John Galt said. “With Stride LSTs, users will be able to earn staking rewards on their Cosmos tokens while using Namada’s shielded pool and collecting NAM shielding rewards.”

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

A new play-to-earn meme coin - PlayDoge ($PLAY) - is off to a strong start in its initial coin offering, having already raised close to $300k in just 24 hours. 

The demand for new meme coins continues to skyrocket, especially with new rags-to-riches stories popping up every day. 

For instance, Lookonchain reported today that one trader turned $861 into $657k in just 5 hours, simply by investing early in the $MOTHER token. 

In just 5 hours, this trader turned $861 into $657K, a gain of $762x!He spent 5.14 $SOL($861) to buy 86.55M $MOTHER(8.66% of the total supply) and sold 80.41M $MOTHER for 3,035.5 $SOL($509K).He currently has 6.14M $MOTHER left, worth $148K.He should not be an insider.… pic.twitter.com/8mLAD8aGm8

— Lookonchain (@lookonchain) May 29, 2024

Some smart-money traders are now backing $PLAY to be the next big meme crypto that could deliver an impressive 10x ROI after its launch. 

Why PlayDoge Could Be A Top Meme Crypto?

All successful meme coin projects have a key shared feature - they are based on popular characters or trendy appealing narratives that can attract and maintain a dedicated and supportive community. This is precisely where PlayDoge shines the brightest.

Doge is the most iconic character in the meme crypto space, beloved by everyone from the world’s richest man, Elon Musk, to small-scale retail investors. The PlayDoge play-to-earn game has devised a home-run idea to capitalize on this universal popularity. 

Players can now have Doge as their own Tamagotchi-style virtual pet, operated via a blockchain-powered mobile phone app. They will need to ensure that their Doge is well-fed, trained and entertained - just like any other canine companion - or watch the pet die or run off to a new home. 

In addition to being a fun, innovative concept, PlayDoge offers an extra benefit to players. They can complete a series of entertaining and nostalgic mini-games - similar to the traditional 8-bit 2D side scrollers - and earn free crypto in the form of $PLAY tokens. 

Token holders who complete these 2D adventures will also earn XP points, which will be reflected on the PlayDoge leaderboard. Those with the highest XP will also earn bonus $PLAY tokens and other special rewards. 

Experts Bullish on $PLAY ICO

Smart money traders know better than to dismiss the popularity of Doge and the nostalgia of Tamagotchi. 

Popular crypto YouTube channel 99Bitcoins - with over 700k subscribers - recently highlighted the upside potential of PlayDoge. The channel - known for its early calls on new crypto gems - called PlayDoge “the next big meme coin” that could potentially deliver up to 10x returns.

The new meme coin is also already being featured in popular news publications, including the Economic Times, TradingView and Binance Square. 

PlayDoge’s quick rise to fame isn’t entirely a surprise. Experts are in consensus that meme cryptos and GameFi tokens will lead the ongoing crypto bull market. Considering that $PLAY could be a major leader in both sectors, investors have been quick to buy the token early during its ICO.

PlayDoge Token Audit

For instance, the $PLAY smart contract has been audited by SolidProof.io and the audit report has been published on the meme coin’s website. The audit did not reveal any vulnerabilities or security risks that could put investors’ funds at peril. 

Additionally, the developer team has published the project’s tokenomics. According to the PlayDoge website, 50% of the tokens will be available during the ICO while an additional 7.5% will be distributed as community rewards. 

PlayDoge also has its own staking protocol, to which 6% of the token supply has been allocated. Investors can stake their $PLAY holdings during the ICO itself and earn attractive passive income, currently at an APY in the four figures. 

The remaining token supply will be split and allocated to the token liquidity, marketing strategy and project funds. 

How To Buy PlayDoge

$PLAY is currently available at a discounted price of just $0.005. However, this price is set to increase after the completion of each ICO stage. The current stage will end on Saturday, allowing a short window for interested buyers who do not wish to purchase the token at a higher price. 

Investors can head to the PlayDoge.io website and use the over-the-counter widget to buy the token. They can either use BNB, ETH or an acceptable bank card. However, only BNB buyers will be able to take advantage of the staking rewards during the ICO. 

Owing to the integration of the BNB token, rumours are rife that PlayDoge could be aiming to score a listing on the Binance exchange. If true, the ongoing ICO could be the perfect opportunity for buyers to finally get into a meme coin early and not after it has already exploded. 

Investors are also advised to follow the PlayDoge X or Telegram accounts to keep up with the latest updates. 

Visit PlayDoge ICO

 

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

The play-to-earn crypto trading game Banksters is taking the next step in boosting accessibility to its native $BARS utility token, listing it on multiple cryptocurrency exchanges. 

The May 30 listing of the $BARS token makes it available to buy on five top crypto exchange platforms, including MEXC, BingX, Surprise, CEX.io and ByBit, in a move that’s expected to bring more attention to one of the most educational blockchain games around. 

Banksters is educational because the gameplay is focused on teaching players how to become expert cryptocurrency traders, imbuing them with skills that they’ll later be able to put to use in the real world. 

Available on Web browsers and Android through Google Play, the game employs accurate market prices, with assets mirroring the ups and downs of their real-world counterparts. In Banksters, players can purchase an NFT to take on the role of a crypto trader, and then learn to trade in a profitable way as they progress through the game, completing daily challenges and going head-to-head with other players. 

Players will learn all of the ins and outs of real trading, understanding how to read price charts quickly and accurately, analyze the markets and identify the signals used by experts to make profitable trades. They’ll get to master a number of popular trading strategies, learning valuable skills while enjoying the challenge of trying to keep their head above water and maximize their profits. 

Banksters believes that crypto is the perfect market for anyone wanting to learn how to trade, due in part to the volatility associated with many digital assets. Players will acquire skills that can help them to deal with this volatility and even profit from it, and all the time they will slowly but surely increase their knowledge of how the financial markets work. There are unique elements in the game too, with NFT upgrades available and the chance to go head-to-head in a battle with other human traders, seeing who will make the largest profit over a 24-hour period. 

The $BARS token is an essential aspect of Bankers, used to pay for upgrades, mint entirely new NFT characters, and enter the head-to-head battles. Of course, players also get to earn $BARS every day simply by playing the game and completing various challenges. 

The intriguing concept has sparked big demand for the $BARS token. Earlier this year, Bankster’s held an initial public sale of $BARS across three leading crypto launchpads, raising a total of 550,000 USDT in a matter of hours, with the entire supply sold out. Banksters said the sale saw the enthusiastic participation of both players and investors, who might not want to play the game themselves, but believe it’s a highly promising project nevertheless. 

Listing $BARS on multiple exchange platforms is the natural next step for Banksters, giving early investors a chance to cash in and enabling those who missed the initial sales to finally participate in its ecosystem. 

According to Banksters’ CEO and CMO Alexandru Carbunariu, the $BARS token offers real utility and incentives tied to real-world economic principles. “In addition to the game and token, players also have opportunities in the form of contests on our social networks in partnership with other projects,” Carbunariu said. 

The public sale of $BARS was preceded by a successful airdrop campaign that saw the 1,000 most active Banksters players win NFTs from a prize pool valued at 100,000 USDT. 

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

 

According to a report by Glassnode, long-term Bitcoin holders have started reaccumulating for the first time since December, with selling pressure from these holders having cooled significantly. 

Analysts have also pointed out that Bitcoin’s price movements have been relatively muted compared to previous bull cycles. 

Bitcoin Holders Reaccumulating 

Glassnode’s report reveals a significant shift in the behavior of long-term Bitcoin holders, marking a return to reaccumulation for the first time since December 2023. According to the report, Bitcoin, which is trading just under its all-time high, has entered a phase in which long-term holders are increasing their holdings of the asset once again. 

“Residing just shy of the ATH, Bitcoin continues to consolidate, with long-term investors beginning to re-accumulate coins for the first time since Dec 2023.”

According to the Glassnode analysts, the selling pressure from these long-term holders has cooled significantly over the past week, and a return to accumulation patterns has been witnessed. The report also suggested that volatility is required to generate a new wave of sell-offs. Glassnode’s report also indicated that market indicators are suggesting a return of buy-side demand, citing the fact that spot Bitcoin ETFs experienced a net inflow of $242 million per day last week.

 “Considering the natural daily sell pressure by miners since the halving of $32 million per day, ETF buy pressure is almost eight times larger, which highlights the size and scale of the ETF impact. As the market approaches new all-time highs and enters price discovery, we observe the beginning of the Euphoria phase, characterized by 93.4% of bitcoin supply held in profit.”

According to Glassnode, such phases typically last for 6-12 months, during which holders cling to their holdings in anticipation of a price increase. 

Price Action Muted 

In its report, Glassnode also noted that Bitcoin’s price action over the past two to three months has been fairly muted compared to the cryptocurrency’s previous bull cycles, with Glassnode calling the current bull cycle “more tempered.” The report points out data that shows Bitcoin has recorded weekly, monthly, and quarterly gains of over 3.3%, 7.4%, and 25.6%, respectively, on only 5 of the previous 90 days. 

Historical data shows that during previous bull cycles, such gains occurred more frequently, between 18 and 26 days over a 90-day period. 

“In prior cycles, this count reached between 18 and 26 days, which suggests the current market may be somewhat more measured relative to historical bull markets.”

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

Bitcoin is still traversing sideways and slightly down, and this is the tenth day of such price action. Strong support is holding the price above $67,000 and it would seem that it’s only a matter of time before bitcoin makes that sudden thrust upward that could take everyone by surprise.

Sideways and downwards

The statement “Markets can remain irrational longer than you can remain solvent” is an adage attributed to John Maynard Keynes, and could be applied to the present price action in bitcoin.

Bitcoin has been travelling sideways and slightly downwards, not just for the last ten days, but also since bitcoin made its all-time high on 14 March. For investors who may not be used to markets, this last couple of months might have seemed like an age, and many of them may even have sold, especially when bitcoin plumbed the local depths down as far as $56,600.

Price structure is being built

What has been happening to bitcoin over these last couple of months is certainly par for the course, and what’s more, it is helping to build price structure around the level of the last bull market high of 2021. This price structure can then be used as a firm base from which bitcoin can launch its assault to the next higher level.

Source: TradingView 

As can be seen in the weekly chart above, good support levels have now formed below the $BTC price, and as the king of the cryptocurrencies moves sideways it is continuing to build that important structure.

Inflation causing concern

One might have thought that bitcoin would have already started its next push up. However, with inflation again starting to cause concern, the Federal Reserve is more likely to keep interest rates where they are, and if things worsen, even perhaps raise them.

In a high interest rate environment, and one where liquidity is being kept tight, bitcoin could find it difficult to really get a head of steam up. Liquidity is what drives all assets up, and without it there is more chance that risk assets such as bitcoin will just continue to bide their time and traverse sideways.

A right-translated cycle?

Could it be that instead of the left-translated bull market that many have discussed across social media, we may be looking at a right-translated bull market - one that extends the typical bitcoin bull market of around 3 years out even longer?

This is perhaps a possibility. However, looking at the indicators for the current price action, it rather looks as though the next bitcoin rally will begin soon. It’s just a matter of time.

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

Cross-consensus message format, or XCM, is a messaging format and language used to communicate between consensus systems.

XCM is designed to provide a generalized and extensible set of instructions that can facilitate the completion of transactions across different consensus systems, transaction formats, and transport protocols. 

A Closer Look At XCM 

One of Polkadot’s primary functionalities is interoperability between its different parachains and other consensus-driven systems. XCM is essentially the language that allows two blockchains to interact with one another and conduct complex cross-chain interactions. However, XCM is not specific to the Polkadot network. The primary function of XCM is to define a generic format that allows different consensus systems to communicate with one another. XCM also does not define how messages between two consensus systems are delivered. Instead, it defines how the message should look and act and contains instructions for the intended on-chain actions. 

XCM messages are delivered to participating parachains via the XCMP (Cross Chain Message Passing), and has four core design principles that it adheres to. 

Asynchronous - XCM messages do not assume that the sender would be blocking on its competition. 

Absolute - XCM guarantees that messages are delivered and interpreted accurately. When a message is sent, the sender can be sure it will be delivered and processed as the sender intended it to be. 

Asymmetric - XCM messages follow the ‘fire and forget’ paradigm. This means there is no way for the sender to know whether the message was received. Results must be communicated separately with the sender, along with an additional message back to the origin. 

Agnostic - XCM does not make any assumptions regarding the nature of consensus systems. It can be used in any system that reaches finality via consensus. 

How XCM Is A Significant Leap For Cross-Chain Technology?

XCM offers several improvements over previous and existing bridging solutions. Previous cross-chain technologies generally involved moving tokens between chains. XCM messages can carry any data, enabling far more than token transfers and facilitating innovative services not supported by legacy networks. XCM messages are also programmable, allowing a high level of cross-chain interoperability that was previously not seen in blockchain technology. 

XCM is also highly secure and trustless. Before the advent of XCM, blockchains had no way of communicating other than using bridges that relied on third parties, leading to an array of infamous hacks. Messages between parachains on Polkadot share the same security as the rest of the network. They also do not require funds to be deposited with third-party custodians or any centralized entity. XCM also works between smart contracts based on different virtual machines, connecting networks built on different consensus mechanisms. 

One of the main goals of XCM is to improve communication between chains and make system parachains a reality. Let’s take the example of  Polkadot’s Relay Chain. Besides parachain management and shared security, the Relay Chain handles user balances, assets, governance, auction, and staking. In an ideal situation, the Relay Chain should only be utilized for shared security. System parachains can help alleviate core responsibilities from the Relay Chain by using a standard format like XCM.\

A Format For Cross-Consensus Communication 

XCM started as an approach to cross-chain communication. However, it has now evolved into a format for cross-consensus communication that can be conducted between chains, smart contracts, pallets, bridges, and sharded enclaves such as SPREE. As mentioned earlier, XCM is a format for how a message transfer must be performed. This is similar to how RESTful services use REST as an architectural development style, with HTTP requests containing specific parameters to perform specific actions.

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

After being rejected from $72,000 just over a week ago, the $BTC price has come down to test support at $67,000. A bounce here, or perhaps a bit lower at $66,000, could be the next move for bitcoin.

$BTC at strong support 

Source: Coingecko/TradingView

In the daily chart above, the $BTC price is still meandering along inside the bull flag, although within the bull flag some levels of support have developed. If $BTC can stay above these supports the likelihood is that the descending trend line will squeeze the price into making a move in one direction or the other. 

If the price were to break downwards, there are other levels of support, and if it came to the worst, the price would be unlikely to break downwards through the bottom of the bull flag.

A bounce is coming

From a more bullish perspective, all the short term stochastic RSI indicators have bottomed, and even the daily isn’t far from bottoming. A bounce is going to happen, and whether that’s later on Wednesday, or later in the week, it is probably going to happen.

A target for the bounce would be the descending trend line that forms the top of the bull flag, but more importantly, the resistance level at around $71,300 would need to also be broken.

An extremely bullish macro outlook

Source: Coingecko/TradingView

The more macro outlook of the weekly time frame tells a story. The $BTC price is safe above the weekly candle close of the previous 2021 bull market, and as long as this is the case, things look extremely bullish. It’s also interesting to note how volume has continued to tail off since the beginning of the bitcoin bull market. This could point to more and more investors just holding their $BTC and not trading it. An explosion could be in the tea leaves - it’s just a matter of when?

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

Crypto gambling has become extremely popular in the last couple of years. Logically, the most popular crypto for gambling is Bitcoin. People like to use this digital currency for various reasons, one of which is certainly safety. The overall gaming industry, especially in the Philippines, is mostly regulated and safe.

Yet, there is no place for relaxation. Each individual has the chance to become a victim of a scam. On this page, we will highlight the safety reasons for using BTC for online gambling. You will be surprised by the safety benefits you can get. Let’s go!

Bitcoin Online Casinos Are Licensed

Online casinos that accept Bitcoin-based payments are mostly licensed and regulated. In other words, these operators have passed all the safety tests done by third-party testing labs. These protocols always check the randomness of the game, the legacy of the payments, the reputation of the owners, and many other tiny details. If only one piece of the puzzle is missing, the casino won’t get the license!

Finding Philippine online casinos with valid licenses isn’t as difficult as you think. You only need to check the license number and find out more details about it, such as when the license is issued, when the casino needs to reapply for it and so on.

On the other hand, you can also read professional analyses on Bitcoin casinos in the Philippines on preferred platforms that analyze all the features before recommending any casino to Philippine players. That probably is the easiest way!

Bitcoin is a Private Type of Payment Method

In the modern online casino world, operators use every opportunity to ensure the satisfaction of the customers. One of them is offering a diversity of payment methods available for deposits and withdrawals. That is the reason why you can find e-wallets, credit cards and prepaid cards together with a diversity of cryptocurrencies.

All these payment methods are legit. However, most of them will require you to share some confidential data. That’s not the case with cryptocurrencies like Bitcoin. The only thing you will have to do is share details about your crypto wallet. In other words, you won’t have to expose anything to complete the money transactions in both directions successfully.

Bitcoin Online Casinos Use the Latest Data Protection Technology

If you want to avoid any form of online casino scams, you need to find casinos that use the latest data protection technology. Some good examples of such a technology are firewalls, encryption, and others. With such technology, you can be sure that the data you share with the website is completely safe.

The Privacy Policy and Terms and Conditions are also pretty transparent. Despite more details on this technology, you will see more details on which data the casino collects (if any) and for what purpose.

Fundamental Technology Stands Behind Bitcoin

The best way to describe the safety of Bitcoin for gambling is by analyzing the fundamental technology that supports this payment method. These are things we have to highlight here. First and foremost are immutable records. Blockchain is the main cornerstone of the safety. Each transaction that you make is immutable, secured and transparent.

With those features, the safety of any casino transaction is confirmed. Another thing we have to highlight here is distributed consensus. Since blockchain is a decentralized system, no one can control it. Because of that, malicious attacks and vulnerabilities are completely reduced.

Bitcoin Uses the Latest Security Protocols

As we said, Bitcoin online casinos are using the latest data protection technology. However, there is one even more significant benefit of BTC for online gambling. This digital currency itself also uses the most innovative safety protocols.

There are two important safety aspects that each Philippine gambler should know. For starters, BTC uses a cryptographic algorithm under the name SHA-256. This algorithm is powerful enough to ensure complete protection of any transaction or wallet. Apart from that, the Bitcoin wallets also come with a bunch of safeguards.

For example, the software updates are constant, which is why their safety is always at the highest possible level. We are pretty sure these protocols are one of the reasons why Bitcoin’s value has gone higher constantly in the last period.

Conclusion

We are pretty sure that the safety reasons for using BTC for gambling will change your approach to this digital currency. Despite them, quick and cheap transactions, as well as the highest level of availability, are the main reasons why people use them. Are you ready to deposit money with Bitcoin and ensure more entertaining gambling sessions?

 

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

Japan-based Metaplanet has announced an additional ¥250 million Bitcoin purchase, significantly increasing its holdings and reinforcing its aggressive Bitcoin acquisition strategy.

Metaplanet To Buy More BTC

Japan-based Metaplanet has announced plans to purchase an additional ¥250 million (approximately $1.6 million) worth of Bitcoin. 

The company tweeted, 

“Metaplanet directors authorize [the] purchase of [an] additional ¥250 million of $BTC .” 

This move, approved by the board, marks another significant step in Metaplanet’s aggressive Bitcoin acquisition strategy. Upon completion, this purchase will significantly increase Metaplanet’s Bitcoin holdings from the current 117.72 BTC, which is valued at ¥1.2 billion ($7.7 million).

Metaplanet: The Japanese MicroStrategy

Metaplanet has often been dubbed the Japanese MicroStrategy due to its bullish stance on Bitcoin. Like MicroStrategy, which is known for its substantial Bitcoin investments, Metaplanet aims to accumulate Bitcoin over time. 

On April 8, it became the first publicly traded company on the Tokyo Stock Exchange to invest in Bitcoin, allocating ¥1 billion (approximately $6.25 million at the time) for their initial purchase. The firm declared Bitcoin a core treasury asset, prioritizing a Bitcoin-first and Bitcoin-only approach. 

Strategic Bitcoin Accumulation

The decision to focus on Bitcoin stems from Metaplanet's belief in its long-term value appreciation potential despite its volatility. The latest acquisition follows the company’s earlier investment this month of 19.87 Bitcoin, valued at around 200 million Japanese yen. This consistent pattern of Bitcoin acquisitions underscores Metaplanet's commitment to its investment strategy and confidence in Bitcoin’s future value.

Transparent Bitcoin Management

Metaplanet has outlined a transparent approach to managing its Bitcoin holdings. Bitcoins acquired for long-term purposes will be recorded at cost, ensuring stable accounting treatment. In contrast, Bitcoins held for short-term purposes will be revalued quarterly at market value. Any unrealized gains or losses from these short-term holdings will be listed under non-operating income, providing a clear reflection of market changes.

Impact on Share Price

Metaplanet's strategic focus on Bitcoin has significantly boosted its share price. According to Google Finance data, Metaplanet’s shares have surged by 287% year-to-date. This increase in share price is attributed to the rising value of Bitcoin, which has positively impacted Metaplanet's overall market value and potential profitability. 

Last week, Metaplanet’s share price soared to 93 Japanese yen, pushing its market cap close to $1 billion. Dylan LeClair, the director of the company’s Bitcoin strategy, highlighted this achievement, noting that Metaplanet has been Japan’s top-performing stock for two consecutive days.

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

Real-world asset (RWA) tokenization has taken both traditional finance (TradFi) and decentralized finance (DeFi) by storm, even before entering the third quarter. Despite making up only a segment of the RWA tokenization space, tokenized real estate has ushered in a one-way market transition. 

Tokenized real estate assets now make it possible for all investors to access a previously inaccessible market — increasing access to liquidity and establishing a more efficient real estate marketplace. Some companies like Blocksquare are working to take this opportunity a step further, evidenced by its latest development of its RWA marketplace launchpad, Oceanpoint v0.5. 

Real Estate Tokenization Fundamentals

Real estate tokenization is the process of turning real estate property value into digital tokens, which can then be purchased, sold, and traded on platforms that utilize blockchain technology. Each of these tokens represents a fraction of the property, enabling investors to buy smaller shares instead of the entire asset. This fractionalized approach to real estate ownership simplifies the process of real estate transactions and allows smaller portions of liquidity to flow into the real estate market.

Built on the blockchain, tokenized real estate trading becomes immutable, transparent, and secure, ensuring all transaction data remains tamper-proof and accurate. Furthermore, transactions on blockchains are dispersed across a distributed network of decentralized nodes. This minimizes the need for intermediaries and reduces the reliance on centralized authorities to facilitate transactional processes. 

Tokenized Real Estate Marketplaces

A tokenization marketplace functions as an online platform that facilitates the listing, buying, and selling of tokenized assets such as tokenized real estate. These marketplaces are comprised of two key components, a stable infrastructure and the security of smart contracts.

After establishing the digital infrastructure to host the tokenized listings and transaction management, the establishment of self-executing smart contracts ensures all the marketplace remains secure. Written directly in code, smart contracts ensure a smooth process that is accurate, tamper-proof, and automated for all tokenized transactions.

Real Estate Tokenization Barriers

As the fundamental aspect of tokenized real estate marketplaces, it’s important to understand the challenges of real estate tokenization. 

Although tokenizing real estate into smaller fractional shares helps improve access to liquidity, it also opens up valuation complexities. The process of accurately pricing tokenized real estate is crucial to ensure fair pricing for investors. This can be ensured by carrying out multiple independent valuations and by maintaining transparent valuation mechanisms to secure investor trust.

Another significant consideration and potential barrier to the tokenized real estate marketplace is regulatory requirements. As digital asset regulation continues to roll out, regulatory oversight is becoming an increasing concern for those running tokenized real estate marketplaces. With different jurisdictions employing differing regulations, substantial challenges begin to appear when attempting to establish a standardized global marketplace system. 

One final barrier to consider — and one of the most persistent — is the technological learning curve. The intrinsic risks posed by blockchain technology include scalability bottlenecks, composability limitations, and security vulnerabilities. In the face of network congestion, susceptibility to exploits and confidentiality concerns, technical remedies like layer 2 solutions, code audits, and zero knowledge (ZK) proofs are vital.

Blocksquare: Empowered Tokenization

Blocksquare, founded in 2017, has worked to develop an advanced real estate tokenization marketplace infrastructure capable of offering tokenized assets and launching tokenized marketplaces. The protocol facilitates the creation of PropToken smart contracts and Ethereum ERC-20 tokens representative of fractional ownership of a tokenized property. 

PropTokens link to legal documents known as Public Corporate Resolutions (PCRs) to ensure property revenue is transferred accordingly to token holders. This method ensures investor rights remain protected and that investor ownership is legally documented and enforceable. So far, Blocksquare has managed to tokenize over $100 million worth of property.

Alongside PropTokens, Blocksquare provides a white-label marketplace solution. This solution enables the creation of branded platforms that facilitate management, listing, selling, and issuing of tokenized properties for businesses. Blocksquare simplifies tokenized marketplace launch and operations through know-your-customer (KYC) automation, peer-to-peer (P2P) trading, and revenue distribution.

Blocksquare has also recently taken steps to expand further into the decentralized finance (DeFi) space. After introducing Oceanpoint in 2022, a open-end decentralized autonomous organization (DAO), Blocksquare has now ushered in Oceanpoint v0.5. This latest v0.5 upgrade ensures real estate tokenization startups find global support and community-centered foundations. 

Community Inclusive Tokenization

One of the key drivers behind a successful tokenized real estate marketplace is the community that builds it. Active involvement of the community helps establish the education, adoption, and trust required to develop a sustainable tokenized real estate marketplace. Protocols like Blocksquare ensure this key aspect receives due attention, ensuring that both new and existing users are supported when investing in tokenized real estate or establishing their own tokenized marketplaces.

Tokenized real estate marketplaces must address community engagement as a priority, ensuring that social media and forums help members voice their concerns and support one another. By helping build a supportive communal system, investors can establish trust and confidence, and ultimately, help fuel the growth of the tokenized real estate marketplace.

With the roots of the community set, the right legality preparations, and a robust infrastructure, protocols like Blocksquare aim to make decentralized real estate accessible to all — no matter how big or how small.

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

Bitcoin is still gathering strength ready for the next move, and this is arguably more likely to be further gains to the upside. It could be more risky to be out of bitcoin than in bitcoin, as the upcoming price surge might promise to be the most prolific yet.

More to come from bitcoin

Investors still sitting on the sidelines could be looking at bitcoin with a view to jumping aboard before the next train sets off. However, they might also be thinking that the train left the station way back at the beginning of 2023, and that the eventual destination may not be far off.

They can’t really be blamed for thinking like this, given that bitcoin has had such a great price trajectory thus far. Nevertheless, if previous bull markets are anything to go by, we still have another leg or two to go before this bull run ends at some point in 2025.

There is much speculation across social media as to just how far and how high bitcoin can go over the course of this next phase or two of growth. Figures bandied about from respected analysts within the crypto space span a wide spectrum. Most analysts would probably agree that $100,000 is probably a conservative target for $BTC , and then there is $150,000 to $250,000, with a lesser group calling for even higher.

Nobody really has a clue, and a lot of the figures are based on Fibonacci levels and just big round numbers. That said, the vast consensus is certainly that bitcoin will go higher.

Why the pessimists are wrong on bitcoin

The dogged pessimist might still not be convinced of this. They might say that bitcoin has already reached its top, and that we are slowly rolling over, and about to enter a bear market ahead of time.

Why would they be wrong?

One only has to look at the economic horror show that is unfolding before our very eyes. Interest rates in the US are already high enough to cause a huge dampening effect on economic activity. While at the same time, inflation is rearing its ugly head again, and if rates are not kept the same, or God forbid, are pushed even higher, inflation could get out of hand once again.

In this sort of environment the average investor needs assets, and most of these assets need to have the least possible amount of third-party risk. This is because once the dominos start falling, anything tied to the traditional monetary system could also fall.

Therefore, bitcoin and other ‘hard’ monetary assets, are likely to attract a lot more value, as investors flee into something that cannot be printed into oblivion.

Bitcoin is the train to be on

At least for the next year or so, until it completes its bull market, bitcoin is the train to be on. Even if it only gets to $100,000, this is still a 50% or so gain from here. Try getting that from cash, bonds etc.

And then, bitcoin goes into its bear market. How long does this last? About a year. Would it be a good idea to hold some bitcoin through this, given the precarious state of the economy? Probably.

Bitcoin is the digital store of value of the future. Nothing in all of monetary history compares with it. In order to also come to this conclusion, you need to do your own research on this. Given the horrendously unstable economic system we are trapped within, the sooner you do this the better.

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

A revolutionary altcoin is capturing attention as the bull run of 2024 unfolds. Excitement spreads through the crypto community, with predictions of a massive surge on the horizon. This potential game-changer hints at multiplying investments by a staggering 100 times. Stay tuned for an in-depth look at the factors fueling this phenomenon.

BlastUP Token Supply Runs Out with Presale Ending in One Week

The BlastUP presale is taking the market by storm, swiftly raising over $7 million and captivating more than 17,000 investors in just a few months. With nearly 70% of the $BLP tokens allocated for the presale already sold out, investors are racing to grab their share of this dynamic launchpad platform.

The BlastUP presale is nearing its end, offering $BLP tokens at a 35% discount until May 31st, before they are listed on the DEX at $0.1. Recognized by crypto experts as a hidden gem, the BlastUP token is forecasted to potentially skyrocket by 1000% by the end of the year.  

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BlastUP helps crypto startups grow faster and earn more. As BlastUP forges ahead, it remains committed to creating a global hub for the Blast community. BlastUP is rapidly gaining traction for the benefit of all participants in this ecosystem.

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Arbitrum (ARB) Price Overview and Prediction

ARB's current price range is between $1.01 and $1.32. The 1 Week Price Change shows a small drop of 2.14%, but the 1 Month Price Change indicates a rise of 7.01%. Over 6 Months, ARB has increased by 16.97%. Technical indicators show a bearish trend with RSI at 37.90 and MACD at -0.00686. Nearest resistance sits at $1.44, and support is at $0.82. Currently, ARB is experiencing corrective moves.

Pepe (PEPE) Price Overview and Future Outlook

Pepe (PEPE) is currently trading between $0.000011 and $0.000019. It has seen a strong rise over the past six months with a 1305.17% increase. The 1 Week Price Change shows a 10.21% rise, and the 1 Month Price Change is a significant increase of 110.94%. Despite this growth, the Relative Strength Index (RSI) at 31.32 suggests it is in a corrective move. Key levels to watch are the nearest resistance at $0.000022 and support at $0.000006.

Starknet (STRK) Price Analysis: Potential Uptrend on the Horizon

Starknet (STRK) is currently trading within the $1.09 to $1.36 range. The RSI at 41.18 and stochastic at 25.51 show it may be nearing oversold territory. The MACD level of -0.006 suggests bearish momentum is slowing down. Recent price changes have been -1.39% for 1 week and -2.44% for 1 month, but there's a significant 511.87% increase over six months. The coin is likely in a corrective move, showing potential for a rebound.

Xai (XAI) Price Analysis and Future Predictions

Xai (XAI) is currently priced between $0.60 and $0.81. The coin has seen a 1.05% rise in the last week and a 6.10% increase over the past month, with an impressive 3473.81% growth in the last six months. The nearest resistance level is $0.90, and the nearest support is at $0.48. With an RSI of 46.45 and a Stochastic of 23.64, XAI is experiencing corrective moves. The MACD level is at -0.00052.

Conclusion

In the current bull run, ARB, PEPE, STRK, and XAI have less potential in the short term. The standout is BlastUP. Its high potential comes from its unique concept and integration within the Blast ecosystem.

Site: https://blastup.io/

Twitter: https://twitter.com/Blastup_io

Discord: https://discord.gg/5Kc3nDhqVW

Telegram: https://t.me/blastup_io

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