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Avalanche Price Surges on ETF Rumors: Will AVAX Hit $58?

Avalanche (AVAX) saw a significant price spike of 9.1% in the past 24 hours, bringing its price to $27.96. This surge followed speculations about an AVAX ETF on X by Quinten Francois, a crypto influencer with over 115k followers. Last week, AVAX suffered a price drop due to the BtcTurk exchange hack.   Quick Take  AVAX price increased by 9.1% in the past 24 hours supported by rumors of an AVAX ETF following VanEck’s Solana ETF filing. Formation of a falling wedge, crossing above the 50-day SMA, and RSI approaching 60. If AVAX breaks above the wedge, a 76% rally could push the price to $58. An increase in open interest by 6.14% indicates accumulation among AVAX traders. Why Is Avalanche Price Surging? AVAX/USDT price chart | Source: KuCoin    The recent AVAX price surge follows speculations about an AVAX ETF on June 27. This speculation was sparked by VanEck’s filing for a Solana ETF, categorizing the asset as a commodity. A crypto investor, Quinten Francois, shared a list of altcoins likely to see ETF filings soon, with Avalanche being a top contender.   Source: @quintenfrancois on X   Read more: VanEck Files for First Solana ETF in the U.S.: A Potential Game Changer?   AVAX Technical Analysis: 76% Rally in the Cards?  AVAX hit a yearly high in March but began to decline, forming a falling wedge. Falling wedges are bullish patterns that often lead to an upward breakout. Recently, AVAX crossed above the 50-day simple moving average (SMA) but remains below the 200-day SMA. The 14-day relative strength index (RSI) dipped into the oversold area before recovering and is now approaching the midpoint of 43, aiming for 60, where resistance exists.   If AVAX breaks above the falling wedge, it could rally by 76%, bringing the price to $58. However, if bearish trends continue, the price could find support around $23.51 and $19.54.   On a lower time frame, AVAX broke out of an inverted head and shoulders pattern. This pattern suggests a 7% upside move, potentially raising AVAX’s price to $30.07.   AVAX Registers 6.41% Increase in Open Interest Data from Coinalyze shows a 6.14% increase in aggregate 24-hour open interest (OI) for AVAX, indicating investor accumulation and anticipation of further price movement. According to Santiment, the AVAX rally is largely ignored by the crowd, reducing the risk of a sudden correction due to FOMO (fear of missing out).   Bullish Reversal Indicators Avalanche NVT Ratio | Source: AMBCrypto    AVAX shows promising signs of a bullish reversal, supported by recent market dynamics and buying pressure. However, for a full bullish reversal, several factors need to align:   NVT Ratio: AVAX’s network value to transactions ratio is in a downtrend, suggesting potential undervaluation. Ichimoku Cloud: AVAX needs to break above the Ichimoku cloud, with the Tenkan-Sen crossing above the Kijun-Sen within or above the cloud. MACD Indicator: A bullish reversal requires the MACD line to cross above the signal line, and the price to break above the middle Bollinger Band. Current Bearish Signals Despite bullish indicators, some bearish signals persist:   Ichimoku Cloud: The cloud shows a red phase, indicating potential bearishness. Tenkan-Sen and Kijun-Sen: The blue line (Tenkan-Sen) is below the red line (Kijun-Sen), another bearish signal. MACD Line: Currently below the signal line and trending downward, led by bears. Conclusion Avalanche (AVAX) is at a critical juncture. Bulls are positioning for a breakout, driven by ETF speculations and technical patterns. However, bearish indicators suggest caution. For a sustained bullish reversal, AVAX needs to break above key resistance levels and see supportive market indicators.

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06/28/2024
VanEck Files for First Solana ETF in the U.S.: A Potential Game Changer?

VanEck, a pioneer in digital asset investments, has taken a bold step by filing for the first Solana ETF in the United States, as per a news report on Watcher Guru. This move comes from their head of digital asset research, Matthew Sigel, who announced on X (formerly Twitter) that the application was submitted to the U.S. Securities and Exchange Commission (SEC) on June 27, 2024.    Quick Take  VanEck has filed for the first Solana ETF in the United States, submitted to the SEC on June 27, 2024. Following the announcement of the ETF filing, Solana's native token, SOL, saw a significant price increase, rising 12% from $135 to $151 on June 27. Solana has experienced substantial growth, with its total value locked (TVL) increasing by 120% to $4.48 billion in 2024.  Solana as a Commodity Sigel explained that VanEck views Solana's native token, SOL, as a commodity, similar to Bitcoin and Ether. SOL is used for transaction fees and computational services on the Solana blockchain. It can be traded on digital asset platforms or used in peer-to-peer transactions, much like Ether on the Ethereum network.   "The Solana blockchain’s unique combination of scalability, speed, and low costs may offer a better user experience for many use cases," Sigel, VanEck’s head of digital asset research, added.    This perspective underscores the potential of Solana to revolutionize the blockchain industry, particularly in handling thousands of transactions per second with minimal fees.   Read more: Solana Fund: 3iQ Files for North America’s First Solana ETF on the Horizon   VanEck's Ambitious Plans The proposed VanEck Solana Trust aims to reflect the price performance of Solana, excluding operational expenses. The trust will value its shares daily using the MarketVector Solana Benchmark Rate index, calculated based on prices from top trading platforms.   VanEck's move comes on the heels of the SEC's approval of spot Ether ETFs in May 2024. This approval marked a significant shift in the regulatory landscape, classifying Ether as a commodity rather than a security. Following this trend, VanEck's Solana ETF could pave the way for further crypto-based investment products.   Read more: Spot Ethereum ETFs by July? SEC Chair Gensler Confirms Progress on Approval   Solana Price Gains 12% From Institutional Investors, Airdrop Campaigns, Rising TVL  SOL/USDT price chart | Source: KuCoin    The announcement of the Solana ETF filing has already had a positive impact on SOL's market performance. Data from Cointelegraph Markets Pro and TradingView shows that SOL rose sharply from a low of $135, climbing as much as 12% to an intraday high of $151 on June 27. The layer 1 token jumped 8.5% in just two hours following the news.   VanEck's pioneering move has sparked significant interest among institutional investors, similar to the surge seen when spot Bitcoin ETFs debuted. The approval of a spot Solana ETF is expected to further boost SOL’s price, potentially mirroring the positive impact seen with Bitcoin and Ether ETFs.   Solana's Airdrop Momentum Solana’s price has had an impressive run over the last year, rallying more than 780% over the last 12 months and 45% year-to-date. Much of these gains can be attributed to successful airdrops, leading to the emergence of popular Solana-based tokens such as Jupiter (JUP), Dogwifhat (WIF), Bonk (BONK), and Book of Meme (BOME).   Adding to this momentum, Solana-based decentralized exchange (DEX) Zeta Markets has launched its native token, ZEX, and opened airdrop claims. The airdrop is designed to reward early users and encourage long-term participation in the protocol. Eligible users have 90 days to claim their airdrop allocations, with 2% of the token supply (20 million ZEX) allocated for staking during the Genesis Epoch.   Read more: Zeta Airdrop Starts June 27: Here’s How to Claim ZEX Tokens   Solana TVL Up By 120% in 2024   Solana DeFi TVL | Source: DefiLlama    The flurry of airdrops and increased activity within the Solana ecosystem has significantly boosted the total value locked (TVL) on Solana. In 2024, TVL increased by 120% to $4.43 billion, indicating a strong engagement from users and developers. This rise in TVL enhances investor confidence by showcasing the network’s robustness and growing adoption, translating into higher buying interest and propelling the price upward.   SOL Technical Analysis: Path to $200?  SOL/USD price chart | Source: Cointelegraph   SOL’s price action during the daily timeframe indicates a V-shaped recovery pattern. The 20-day exponential moving average (EMA) at $143.5 is acting as immediate support. The relative strength index (RSI) is rising towards the 70 mark, showing buyers’ dominance in the market. The bulls now focus on the 100-day EMA at $148.5 and, later, the 50-day EMA at $150.5. The next barrier lies at the neckline of the prevailing chart pattern at $176.   A daily candlestick close above this level would confirm the continuation of the uptrend. The next logical move would be to the March 18 range high at $209, bringing the total gains to 42%.   On the downside, failure to hold above the 20-day EMA at $143 would signal the inability of the buyers to sustain the uptrend. If this happens, SOL could drop to the pattern’s low at $126, invalidating the bullish outlook.   Conclusion VanEck's filing for a Solana ETF marks a significant milestone in the evolving relationship between traditional finance and the crypto world. With the potential for significant market impacts and the possibility of political shifts influencing regulatory decisions, the future of Solana and other crypto assets in ETF form looks promising yet uncertain.   Solana's strong price performance, driven by institutional interest and strategic airdrops, positions it well for future growth. As the regulatory environment adapts, VanEck's proactive approach could pay off, making SOL one of the next big names in crypto ETFs.  

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06/28/2024
Telegram Launches Adsgram for Devs to Earn Toncoin Through Ads

On June 25, the TON Community launched Adsgram, a new traffic monetization tool on Telegram. This platform allows developers to earn Toncoin (TON) by integrating ads into their mini-apps or bots. Adsgram stands out from the Telegram Ads platform launched in March, providing developers with a dedicated system to monetize their applications.   Quick Take Adsgram is a new third-party platform launched by the TON Community for monetizing mini-apps on Telegram. It offers video ads, static banners, and channel subscriptions with CPM and other payment models. Mini-app developers can earn up to $16 CPM in Toncoin. Adsgram primarily targets countries like Nigeria, Bangladesh, and Germany, as well as tier-1 exchanges and TON-based services. Developers will Earn Toncoin By Ads Displaying In Telegram Adsgram supports various ad formats, including 15-second video ads, static banners, and soon-to-be-released channel subscriptions. The platform employs standard ad payment models like cost per thousand impressions (CPM) and tracks essential metrics such as click-through rate, conversions, and fill rate.   According to Adsgram’s official presentation, the platform offers CPM rates ranging from 0.5 TON ($3.8) to 2 TON ($16), based on the audience. The platform has already amassed up to 8 million impressions per day as of May 2024, featuring mini-apps like Gamee and Fonton Fantasy Football. Adsgram’s advertisers include tier-1 exchanges, TON-based games, and gambling services.   Adsgram co-founder Vadim Sterlin emphasized the platform's role in solving monetization challenges in the GameFi sector on Telegram. Sterlin, who founded Fantongamebot, highlighted the difficulties in monetizing games through direct ad sales. Adsgram, supported by a $50,000 grant from the TON Foundation, launched its first ads through an alpha test on Fanton Fantasy Football in early April.   “As a founder of a major game in the Telegram ecosystem — Fantongamebot — I faced a big challenge monetising our game,” Sterlin wrote on the Adsgram channel in February. By then, there was no way for publishers to earn money on advertising rather than direct ads sales, he noted according to a report on Cointelegraph.   TON Ecosystem Activity Surges by 4,500% in 2024 TON DeFi TVL | Source: DefiLlama    Adsgram’s launch coincides with a significant surge in the TON ecosystem. The total value locked (TVL) on various TON projects has grown by 4,500% in 2024, with Toncoin hitting new highs, peaking at $8.17 on June 14. Toncoin's year-to-date returns exceeded 200%, outpacing market giants like Bitcoin and Ethereum.   Toncoin’s TVL increased from 5.94 million TON to 87.47 million TON, a 1,372% rise. This growth is mirrored in Toncoin’s transfer volume, oscillating between $5 billion and $10 billion throughout June, achieving around 10% of Bitcoin’s transfer volume capacity. The number of Toncoin holders surged to 32 million in June, a tenfold increase from the previous year, indicating a growing demand driven by its utility in DeFi activities.   Read more: Top dApps in The Open Network (TON) Ecosystem   The Open Network team bolstered TON token demand through various funding and incentive programs. In March, they allocated 30 million TON tokens for community rewards, covering token mining, airdrops, developer support, and liquidity pools. The TONcoin Fund secured up to $250 million from industry players, attracting more developers to the TON blockchain.   Telegram Mini-App Games Fuel Demand for Toncoin TON/USDT price chart | Source: KuCoin    Notcoin, a play-to-earn game on Telegram, further propelled Toncoin’s demand. By early 2024, the game attracted over 35 million players. The NOT token, launched on major exchanges, saw its price surge 600% within 24 hours, reaching a market cap of $715.7 million. Notcoin’s integration within the TON ecosystem created a direct link between the two tokens, enhancing Toncoin’s utility and demand.   Upcoming games following in Notcoin’s footsteps include Hamster Kombat, TapSwap, Blum, Catizen, and Gemz. For instance, Hamster Kombat has over 100 million players and is expected to launch its native token HMSTR via an airdrop campaign in July 2024.    Toncoin’s Open Interest Rises to $263 Million in the Futures Market TON OI-Weightened Funding Rate | Source: CoinGlass    Toncoin’s price surge coincides with a rise in open interest in the futures market, reaching over $263 million by June 21. Despite negative funding rates, indicating a significant portion of the market betting on a price decline, Toncoin’s spot price continued to rise. This scenario led to a short squeeze, driving further price increases.   Conclusion Adsgram's launch marks a significant milestone in the TON ecosystem, offering developers a new way to monetize their mini-apps on Telegram. With diverse ad formats, robust payment models, and substantial earnings potential, Adsgram is set to revolutionize traffic monetization. Coupled with the booming TON ecosystem and strategic funding initiatives, Adsgram promises to enhance the financial dynamics of Telegram’s GameFi sector and beyond.  

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06/28/2024
Zeta Airdrop Starts June 27: Here’s How to Claim $ZEX Tokens

The Zeta (ZEX) airdrop is generating significant buzz, with the $ZEX token poised to become a central element of the Zeta ecosystem. As one of the most established DeFi protocols on Solana, Zeta has built a strong reputation and is now preparing to launch its governance token. In this guide, we will delve into all aspects of Zeta and the $ZEX token, including eligibility, participation, and the airdrop claiming process.   Quick Take Zeta Markets, a prominent Solana-based DEX with a focus on perpetual futures, has announced its ongoing ZEX airdrop  starting June 27 until July 25, 2024.  The project’s native token $ZEX will serve as a governance and growth token within the Zeta ecosystem. Eligibility for the $ZEX airdrop is based on participation in Zeta's point program, where users accrue points.  Introduction to Zeta and $ZEX Token Zeta is a decentralized exchange specializing in perpetual futures on the Solana blockchain. Known for its speed and user experience comparable to centralized exchanges, Zeta aims to revolutionize the DeFi landscape by providing a seamless trading platform. At the time of writing, Zeta has a total value locked (TVL) of over $17 million.   Zeta DEX TVL | Source: DefiLlama    The $ZEX token will play a crucial role in Zeta’s ecosystem, serving as a governance token and incentivizing user participation and platform growth.   All About the Zeta (ZEX) Airdrop The $ZEX airdrop is set to distribute a portion of the total token supply to active users and contributors within the Zeta ecosystem starting June 27 till July 25, 2024 . The airdrop compaign aims to reward the community and enhance engagement, aligning with Zeta’s decentralized governance model.   Who Is Eligible for the $ZEX Airdrop? Eligibility for the $ZEX airdrop is determined by participation in Zeta's point program across multiple seasons. The more points a user generates, the higher their $ZEX allocation will be. Points are accrued through trading volume, PnL multipliers, activities, referrals, and holding Zeta NFTs. Currently, users are in Z-Score Season 2, where both maker and taker volumes contribute to their scores.   How to Participate in the Zeta Airdrop To participate in the Zeta airdrop, you must be active within the Zeta ecosystem and generate points through various activities. Here's a step-by-step guide to participating in the $ZEX token airdrop campaign:   Step 1: Visit the Claim Site and Check Eligibility Go to Zeta's token claim page. Enter your Zeta address to verify eligibility.   Source: Zeta Markets Docs   Step 2: Connect Wallet and Accept Terms  Use your preferred Solana wallet, such as Phantom, to connect to the interface. Agree to the airdrop terms and conditions.   Step 3: Choose Your Claim Method Decide between Immediate Claim or Diamond Hand Claim.   Source: Zeta Markets Docs   Step 4: Claim $ZEX Tokens Approve the transaction and wait for the tokens to arrive in your wallet.   How to Claim Your $ZEX Allocation What Is Diamond Hand Claim?  Source: Zeta Markets Docs   The Diamond Hand Claim is for users committed to Zeta's long-term vision. By opting for this, users can claim all their allocations in full at TGE and stake them immediately. Benefits include qualification for the Staking Airdrop and immediate participation in governance with boosted incentives.   What Is the Immediate Claim & 7-Day Bonus?  Source: Zeta Markets Docs   The Immediate Claim allows users to claim their airdrop at any time, including any unlocked portion of the 7-Day Bonus. As the bonus continues to unlock, users can claim larger allocations up to the maximum at the end of the 7-day period.   Example Claim Immediately at TGE: User A can claim 1000 $ZEX with no 7-Day Bonus. Claim After 4 Days: User A can claim 1000 $ZEX plus 571 $ZEX from the 7-Day Bonus. Claim After 7 Days: User A can claim the full 2000 $ZEX (1000 $ZEX allocation + 1000 $ZEX 7-Day Bonus). What Is Zeta Staking Airdrop?  Source: Zeta Markets Docs   Staking $ZEX tokens is a key component of the Zeta ecosystem, rewarding long-term commitment and governance participation. The staking airdrop, representing 2% of the total supply, is designed to incentivize users who stake their tokens within the first epoch after the Token Generation Event (TGE), ending on July 25th at 09:59 UTC.   The staking airdrop will be allocated based on a user's average governance score, gZEX, over the epoch. The longer and more tokens a user stakes, the higher their gZEX score will be. This airdrop will occur 28 days after the TGE and will be in the form of ZEX staked as gZEX for 90 days.   Why Stake on Zeta DEX? Staking helps establish governance mechanisms and aligns key users with the protocol by rewarding their participation with incentives. As Zeta migrates to Zeta X and transitions to its own Layer 2, governance will become increasingly important, influencing parameters like transaction fees, validator rewards, market listings, and incentive emissions.   When to Claim Zeta (ZEX) Airdrop The staking airdrop will be distributed on July 25th, at the end of the Genesis Epoch. It will be distributed as gZEX staked for 90 days, converting to liquid ZEX over this period. A user's average gZEX is sampled daily, and those staking later in the epoch will earn a lower share of the airdrop due to lower average gZEX scores.   Zeta Airdrop Challenges and Precautions High demand during the airdrop could lead to network congestion and delays. Users should be cautious of imitation sites and phishing scams. Always verify links and avoid responding to unsolicited messages regarding the airdrop.   Conclusion The Zeta airdrop is a significant event in the Solana DeFi space, offering rewards to early adopters and contributors. By participating in the airdrop, users can support Zeta’s growth and engage in its decentralized governance. Stay tuned for more updates on the airdrop timeline and how to maximize your $ZEX allocation.   FAQs on Zeta Airdrop 1. How do I check if I'm eligible for the Zeta airdrop?  Visit the official Zeta airdrop claim page and enter your Zeta address to verify eligibility.   2. What issues might users face during the Zeta airdrop?  Users might experience network congestion and delays. Ensure you are following the correct steps and use only official links.   3. What should I do if I face issues while claiming my $ZEX tokens?  Follow the steps on the claim site carefully. For persistent issues, contact Zeta’s support through official channels.   4. Can I sell my $ZEX tokens immediately after claiming them?  Yes, but consider the market conditions and potential benefits of holding or staking the tokens.   5. What are the benefits of holding $ZEX tokens?  Holding $ZEX tokens allows participation in governance, potential rewards from staking, and supports the growth of the Zeta ecosystem.  

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06/27/2024
BLAST Token Rises 40% Post-Launch; 17% of Supply Airdropped Day 1

The highly anticipated native token of the Ethereum layer-2 network Blast (BLAST) has made a spectacular entry into the market. Following its launch, BLAST saw a remarkable 40% surge in its price. This surge contrasts sharply with other recent high-profile airdrops, like zkSync (ZK) and LayerZero (ZRO), which have seen significant declines since their debuts.   Quick Take  The BLAST token's price rallied from its debut price of $0.02 to $0.0281, outperforming other recent token launches. BLAST's market cap exceeded $432 million, with a 24-hour trading volume surpassing $656 million, indicating strong market interest and activity. The airdrop distributed 17% of BLAST’s total supply to early users and contributors, fueling initial market excitement. The airdrop attracted scams, and the initial valuation faced criticism for falling short of expectations, highlighting the challenges ahead. BLAST Token Rallies 40% on Launch Day BLAST/USDT price chart | Source: KuCoin    BLAST debuted at $0.02 per token, giving it a fully diluted valuation (FDV) of $2 billion. According to data from Ambient Finance and perps trading platform Aevo, the token's price quickly rallied over 40%, reaching $0.0281. This impressive start highlights the strong market interest in BLAST, setting it apart from other recent token launches.   Read more: Blast Airdrop Guide: How to Unlock Yield Potential   However, the launch was not without its controversies. Some crypto market commentators, including DeFiance Capital's co-founder Arthur Cheong, expected a higher initial valuation. Cheong was surprised by the $2 billion FDV, having anticipated a valuation closer to $5 billion.   17% of BLAST Total Supply Airdropped on Day 1 Blast airdrop: Phase 1 Allocation | Source: Blast Docs    According to Cointelegraph, the BLAST airdrop distributed 17% of the total token supply. Users who bridged Ether (ETH) or USD on Blast (USDB) to the network since late last year received 7% of the airdrop. Another 7% went to users who contributed to the success of decentralized applications (dApps) on the network. The remaining 3% was allocated to the Blur Foundation for future community airdrops.   Despite the successful airdrop, it drew criticism from some quarters. Critics argued that the initial valuation did not meet expectations, and the airdrop event attracted numerous scams. Crypto security service Scam Sniffer identified a victim who lost over $217,000 to a phishing scam during the BLAST airdrop event.   Blast Becomes 4th Largest Ethereum L2 The Blast network, co-founded by Blur creator Tieshun Roquerre (known as PacMan), has faced scrutiny. Last November, seed investors criticized the network for lacking sufficient features to justify its one-way bridging mechanism. This mechanism required users to lock up their ETH for several months, which raised concerns among investors.   Read more: How to Bridge to Blast Mainnet   Blast L2 TVL | Source: L2Beat    Despite these challenges, the Blast network has shown significant growth. It currently ranks as the fourth-largest layer-2 network by total value locked (TVL), boasting $2.87 billion, according to L2Beat. This places it just behind Arbitrum, Base, and OP Mainnet. Additionally, the network reported $2.3 billion in deposits between November and March, indicating strong user interest and engagement.   Blast Ecosystem Home to Over 200 dApps, Can It Grow Further?  The long-term viability of Blast hinges on its ability to deliver on its promises. The network aims to provide a user-friendly experience that surpasses existing solutions like MetaMask. With over 1.5 million users and more than 200 live dApps, Blast has a solid foundation to build upon.   However, the network must address past criticisms and demonstrate its unique value proposition. While the initial airdrop buzz has been positive, Blast needs to prove its worth in the long run. Investors will be closely watching to see if Blast can develop a robust ecosystem of dApps and offer higher yield opportunities than its competitors.   Read more: Top Crypto Projects in the Blast Layer-2 Network   Conclusion The launch of the BLAST token has been a significant event in the crypto world, marked by a 40% price surge and strong initial interest. However, the road ahead is fraught with challenges. Blast must overcome past criticisms, address security concerns, and fulfill its ambitious goals to maintain its momentum.   As the initial hype fades, the key question remains: Can Blast live up to its potential and establish itself as a leading layer-2 network? Only time will tell, but the current indicators suggest a promising start for this ambitious project.

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06/27/2024
AEVO Announces Buyback Amid the Market Downturn

AEVO recently released an update on its tokenomics, reflecting significant market changes and strategic shifts. This update includes halting the Trading Rewards campaign, initiating monthly token buybacks, and exploring new rewards for specific campaigns.   Quick Take  AEVO halts the Trading Rewards campaign, maintaining staking rewards at 100k $AEVO/week. Protocol revenues will fund monthly buybacks of at least 1 million AEVO tokens from July to December. Weekly buybacks will be conducted at random times to prevent market manipulation. Future prospects include the potential for reintroducing rewards for specific campaigns and product launches.   AEVO is a decentralized exchange focused on perpetual, options, and pre-launch trading, operating on the custom AEVO L2 built on Optimism. This hybrid model aims to deliver a high-performance trading experience with the transparency and security of decentralized settlement.   AEVO Tweaks Trading Rewards & Emissions Due to Market Downturn Over recent months, AEVO adjusted its trading rewards and emissions in response to varying market conditions. Initially, these changes aimed to boost engagement and trading volumes. However, the broader market downturn, particularly in altcoins, has led to decreased trading activity.   AEVO’s Trading Rewards campaign, which ran for four months, has concluded without renewal. Despite the end of this program, staking rewards will remain constant at 100k $AEVO per week. This decision aligns with the current market environment and AEVO’s strategic pivot towards stability.   Reintroducing Rewards for Specific Short-Term Campaigns AEVO’s Marketing and Growth Committee plans to reintroduce rewards for specific campaigns, such as new product launches and special events. These rewards will be short-term and not part of a multi-month program. This approach allows AEVO to remain agile and responsive to market conditions while continuing to engage its community.   AEVO Introduces Token Buybacks with Surplus Revenue  Source: Aevo Mirror    In line with the original $AEVO tokenomics approved by the DAO in AGP-1, AEVO will use part of its surplus revenue for token buybacks. This initiative aims to enhance value accrual for token holders by reducing the circulating supply of $AEVO.   Starting in July and continuing through December, AEVO commits to buying back at least 1 million AEVO tokens each month. These buybacks will occur on-chain weekly and at random times to prevent market manipulation. Transparency will be ensured by publishing the multisig wallet address used for these transactions, allowing public verification.   How Will Aevo’s Buybacks Work?  The DAO’s Treasury and Revenues Management Committee will handle the buybacks using a multisig wallet. The bought-back tokens will be sent to the main DAO Treasury. Future adjustments to tokenomics, such as token burns or new rewards programs, will require another vote by token holders. This approach underscores AEVO’s commitment to a transparent and community-driven governance model.   AEVO Slides From ATH of $4.46 Amid Volatility  AEVO/USDT price chart | Source: KuCoin    AEVO has experienced significant price volatility. In early 2024, AEVO reached an all-time high of $4.46 but later plummeted to $0.505 due to market downturns and increased selling pressure. The token's price decline necessitated strategic adjustments, including the now-concluded Trading Rewards campaign.   The recent decline in trading volumes and a weak altcoin market influenced AEVO's decision not to renew the Trading Rewards campaign. This decision followed multiple adjustments to the campaign without significant progress.   Despite recent challenges, AEVO has shown signs of recovery. Following a significant price drop, AEVO’s market cap surged by 13% to $429 million, and trading volume increased by 76%. The token is currently trading at $0.5098.   AEVO Price Prediction: 2024 High of $0.94?  While AEVO is showing steady gains, returning to its all-time high appears unlikely in the near term, according to analysis by Bankless Times. However, this could present a potential buying opportunity for long-term investors. Various indicators suggest a potential price increase in the coming weeks. Coindataflow predicts AEVO could reach $0.94 by the end of the year, with a potential range of $0.84 to $2.52 in 2025.   Conclusion AEVO’s tokenomics update reflects a strategic shift towards stability and value creation for token holders. By halting the Trading Rewards campaign and initiating significant buybacks, AEVO aims to strengthen its market position and enhance long-term value. With the potential reintroduction of targeted rewards, AEVO continues to adapt to market conditions while prioritizing transparency and community involvement.  

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06/27/2024
Solana's 'Blinks' and 'Actions' Bring Crypto Trading to Social Media Feeds

Solana has always been at the forefront of blockchain innovation. Recently, it has taken a giant leap by introducing 'Blinks' and 'Actions,' two groundbreaking features designed to integrate blockchain transactions directly into popular social media platforms and websites, according to a report from CoinDesk. This new development aims to make crypto trading more accessible and user-friendly.   Quick Take  'Blinks' and 'Actions' integrate blockchain transactions into social media and websites. These new features make memecoins and crypto trading more accessible. Users can trade directly from posts on platforms like X and Reddit. Phantom and Backpack will support these features immediately. What Are Solana ‘Blinks' and 'Actions'? 'Blinks' (a blend of 'blockchain' and 'link') and 'Actions' are designed to allow users to perform on-chain transactions directly from the websites and social platforms they use daily. Developed in collaboration with Dialect, these features are set to revolutionize how we interact with blockchain technology.   One of the main barriers to mainstream adoption of blockchain technology has been accessibility. Complicated wallet software and hard-to-navigate trading platforms have deterred newcomers. Solana's 'Blinks' and 'Actions' aim to address this issue by enabling seamless integration of blockchain transactions into everyday platforms.   How Do ‘Blinks’ and ‘Actions’ Work on Solana? According to the Solana Foundation, 'Actions' enable users to execute transactions across various platforms, including websites, social media, and even physical QR codes. This integration simplifies the process for developers to embed Solana's capabilities into their applications. Wallets like Phantom and Backpack will support these features from the start, and other platforms can integrate them following Solana's developer documentation.   Read more: How to Create a Phantom Wallet for the Solana Ecosystem   Social Media Integration According to a CoinDesk report, the integration of 'Actions' into social media is a game-changer. For instance, users can embed an 'Action' into a post on X (formerly Twitter), allowing followers to initiate transactions directly from the post. This could range from buying NFTs, tipping creators, to staking and swapping tokens.   Chris Osborn, founder of Dialect, emphasizes the potential: "From your X feed, you can buy an NFT, tip a creator, receive money, vote, stake, swap, and so much more."   Ensuring Security To ensure user safety, Solana has implemented a comprehensive security roadmap. Users can enable wallet support for 'Actions' and 'Blinks', which function similarly to connecting a wallet to decentralized applications (dApps). Initial transactions will prompt a standard "connect to site" prompt, and trusted domains will be whitelisted.   Web2 Integration: Solana vs. Base  Solana's approach with 'Blinks' and 'Actions' is not entirely unique. Platforms like Farcaster on Coinbase's Base blockchain offer similar functionalities, enabling users to embed direct links to blockchain assets in their posts. However, Solana's technology differentiates itself by plugging into existing Web2 social apps rather than creating standalone Web3 apps.   The potential for 'Actions' goes beyond social media. As Jon Wong, head of ecosystem engineering at the Solana Foundation, notes, this technology could disrupt how the web functions at its core. The goal is to make any website or application a distribution point for on-chain interactions.   Osborn is optimistic: "Delivering these actions into feeds like X, Reddit, maybe Discord soon – these other platforms where people want to have these Actions experiences – is just the beginning."   Read more: Solana vs. Ethereum: Which Is Better in 2024?   Memecoins Propel Solana Ecosystem’s Growth Solana has become the epicenter of the latest memecoin frenzy. From tokens inspired by internet memes to political figures, memecoins have taken the crypto world by storm. Notable mentions include Iggy Azalea's 'Mother' token ($MOTHER) and 'dogwifhat' ($WIF), which have seen significant market caps. Despite some skepticism, memecoins are pushing blockchains further into the mainstream.   SOL/USDT price chart | Source: KuCoin   According to Pantera Capital, Solana recorded over 60% of the new volume in decentralized exchanges in May 2024. This surge is a testament to Solana's growing strength in retail usage driven by memecoin activity.   Read more: Top Solana Memecoins to Watch in 2024   Conclusion Solana's introduction of 'Blinks' and 'Actions' marks a pivotal moment in blockchain technology, making it more accessible and integrated into everyday digital experiences. By addressing the accessibility challenges and enhancing security, Solana is paving the way for the mainstream adoption of blockchain technology.  

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06/26/2024
Spot Ethereum ETFs by July? SEC Chair Gensler Confirms Progress on Approval

SEC Chair Gary Gensler recently discussed the smooth progression of the Spot Ethereum ETF approval process. Speaking at the Bloomberg Invest Summit, Gensler highlighted the ongoing work with issuers on their S-1 filings.   Quick Take  SEC Chair Gary Gensler has stated that the approval process for Spot Ethereum ETFs is progressing smoothly, with the agency working closely with issuers on their S-1 filings. VanEck has introduced a zero-fee structure for its Ethereum ETF until 2025 or until the fund’s assets reach $1.5 billion. Franklin Templeton plans a competitive 0.19% fee, highlighting a strategic approach to gain a competitive edge in the ETF market. Industry experts anticipate that the second crypto-based ETF in the U.S. will officially launch in July, following the successful approval process. SEC Readying for Official Spot Ethereum ETFs to Launch in July?  These filings must be approved before the investment products can begin trading. Many experts anticipate the second crypto-based ETF in the U.S. to officially launch in July.   During his appearance before the US Senate Appropriations Subcommittee on Financial Services, Gensler reiterated that individual issuers are progressing through the registration process smoothly. He envisions that the process will conclude over the summer, paving the way for the launch of these ETFs.   VanEck's Zero-Fee Strategy According to a report on Watcher Guru, VanEck has filed Form-8A for its spot Ethereum ETF, with many analysts predicting a July 2 launch. Interestingly, VanEck announced it would waive its ETF fees, a move aimed at gaining an early competitive edge. This zero-cost structure is set to last until 2025 or until the fund’s assets hit $1.5 billion, after which a 0.20% fee will be imposed.   Franklin Templeton and BlackRock's Fee Structures Franklin Templeton also disclosed its fee structure early, planning a 0.19% fee for its spot Ethereum ETF. Eric Balchunas, Bloomberg’s ETF analyst, noted that issuers rarely reveal their fees before launch. However, he emphasized the significance of BlackRock’s fee structure, which will likely set the standard for others.   Analysts Predict Ethereum ETFs May Underperform Bitcoin ETFs  Analysts from Bernstein and JPMorgan predict that Ethereum ETFs will see lower demand compared to Bitcoin ETFs. The absence of a staking feature in Ethereum ETFs is a contributing factor. Nonetheless, the approval of these ETFs is expected to attract significant inflows, potentially impacting the market positively.   ETH/USDT price chart | Source: KuCoin   Despite the recent pullback in crypto markets, the structural adoption cycle for Ethereum remains intact. The impending launch of spot Ethereum ETFs and ongoing institutional interest suggest a bright future for Ethereum. Analysts predict that the introduction of these ETFs could lead to significant market movements, potentially driving Ethereum’s price upward.   Inflation in Ethereum Supply Since The Merge Ethereum’s supply has seen an inflationary trend since The Merge in 2022, exacerbated by the Dencun upgrade in March. This upgrade introduced several Ethereum improvement proposals, including EIP-4844, which reduced fees for block data on Ethereum layer-2 networks but led to increased supply.   Conclusion The approval process for Spot Ethereum ETFs is progressing smoothly under SEC Chair Gary Gensler’s oversight. With anticipated launches in July, the market is poised for significant developments. VanEck’s strategic zero-fee initiative and Franklin Templeton’s competitive fee structure highlight the growing competition in the ETF space. While Ethereum ETFs are expected to see lower demand than their Bitcoin counterparts, the overall market sentiment remains positive. Investors and traders alike are eagerly watching these developments, anticipating their potential impact on the cryptocurrency market.  

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06/26/2024
Hamster Kombat Airdrop: 100M Players Gear Up for TON Token Launch

Hamster Kombat, the hottest crypto game with over 100 million players, has confirmed plans for its token launch in July. With the token launch, the game also announced the first task for its upcoming airdrop campaign at weekend.   Quick Take Hamster Kombat surpasses 100 million players, making it one of the largest games on Telegram. The game's official Telegram channel has become the biggest on the platform, driven by demand for Daily Combo. The Hamster Kombat token launch on The Open Network (TON) is slated for July, with an anticipated airdrop. Players can link their TON wallets and join the Telegram channel to participate in the airdrop. Players can boost their earnings by using features such as Daily Combo and Daily Cipher, completing specific tasks, and upgrading their game cards. Upcoming Hamster Token Launch The Hamster Kombat team recently announced that the token launch on The Open Network (TON) is targeted for July. The community will receive Hamster token airdrops to celebrate the listing on markets based on their on-chain activity, and users can determine their eligibility for the HMSTR supply pool.   ​​Hamster Kombat is currently engaging with its community and is expected to expand upon the Telegram-based clicker concept, taking the game to new heights. The team has also mentioned their plans for the future, including the launch of NFT collections as part of the roadmap.   Several leading centralized exchanges have plans to list Hamster Kombat (HMSTR), with KuCoin pre-market being one of the first platforms to onboard the project.    Importance of the Hamster Kombat Airdrop Hamster Kombat has quickly the hottest game in Telegram, and its wide player base represents about one-ninth of Telegram’s entire user base and is nearly three times the 35 million players Notcoin had before closing its “mining phase.”   The upcoming airdrop for Hamster Kombat Telegram game is generating significant excitement among the game’s players and the wider crypto community. For players, participating in the airdrop means they can maximize their in-game earnings and potentially see significant returns once the tokens are listed and tradable. Each task completed in the list not only brings players one step closer to claiming the Hamster coin airdrop when the token launches but only gives them a chance to earn more coins in the game.    By distributing tokens to a wide audience, the airdrop can increase the adoption and use of Toncoin, reinforcing its value and utility in the market. For the TON ecosystem, this airdrop could drive substantial growth in user engagement and transaction volume, highlighting the network's capacity to support popular applications.   Learn more about the Hamster Kombat game and how to play   Hamster Coin Airdrop Tasks: Link Your TON Wallet Players can now prepare for the upcoming airdrop by completing specific tasks. Completing these tasks will make players eligible for the airdrop once the Hamster Kombat token launches in July. The first task involves connecting their TON wallets. The option to link wallets went live over the weekend. Players can also join the Hamster Kombat Telegram channel to stay updated about new tasks as soon as they go live.    Read More: What Is Hamster Kombat?      To link your TON wallet to Hamster Kombat, follow these steps:   Open the Hamster Kombat bot and navigate to the airdrop tab at the bottom right corner. Click the first task and connect your TON wallet, e.g., Tonkeeper, to participate in the airdrop. Join the Hamster Kombat Telegram channel if you haven’t already. Stay updated on new tasks listed in this section from the game’s developers in the coming days and weeks. In-Game Strategies Maximizing your profits in Hamster Kombat involves more than just completing airdrop tasks. Players should focus on boosting their in-game earnings by upgrading their cards. This strategy will help them accumulate more value when the tokens can be exchanged on the market.   Several guides are available to help players optimize their gameplay. These guides can significantly enhance a player's in-game performance and potential earnings. Utilizing features such as Daily Combo and Daily Cipher, and completing specific tasks, can significantly boost your earnings.   Find out how to earn more Hamster coins with Daily Combo and Daily Cipher.    Immense Social Interest The social interest in Hamster Kombat is unprecedented. With over 31 million members, the official Telegram channel for the game has become the largest on the messaging platform. Players are highly engaged, eagerly seeking daily combo and cipher codes that can earn them millions of free coins. This high level of engagement is a testament to the game's addictive nature and the community's enthusiasm.   The developers of Hamster Kombat have expressed optimism about the play-to-earn game's future. They have encouraged players to complete the necessary tasks to be ready for the airdrop and listing. Many members of the Hamster Kombat community believe that the listing and airdrop of Hamster Kombat tokens are inevitable.   Hamster Kombat vs. Notcoin Hamster Kombat and Notcoin have both seen remarkable success on Telegram, but Hamster Kombat has outpaced Notcoin significantly. Hamster Kombat has amassed over 100 million players, almost three times the number Notcoin had at its peak. At the time of writing, the Notcoin token has gained over 73% in value with a market cap just under $2 billion. On 2 June, the NOT price touched an all-time high (ATH) of $0.2896 before sliding lower on broader market conditions.    The upcoming token launch and airdrop for Hamster Kombat are anticipated to surpass Notcoin's achievements, driven by its massive and highly engaged player base. The game's innovative features and community support suggest it could become even more influential in the crypto gaming space than the Notcoin game.    Conclusion Hamster Kombat's rapid rise in popularity and the upcoming TON token launch have created a buzz in the crypto world. With over 100 million players and significant social interest, the game is set to make a substantial impact. The upcoming airdrop presents a lucrative opportunity for players to earn rewards. As the game continues to grow, players and investors alike are keeping a close eye on its development. The success of the airdrop could also serve as a case study for other projects looking to leverage the TON ecosystem for token distribution and community building.   Prepare your TON wallets and join the Hamster Kombat Telegram channel to stay updated and participate in the airdrop. The next few weeks promise to be exciting for the Hamster Kombat community.  

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06/26/2024
TapSwap Airdrop Anticipated In July: What to Know

TapSwap is a popular tap-to-earn game on Telegram where players earn TAPS coins by tapping a digital icon and completing various in-game activities. Learn how to participate in the TapSwap airdrop by playing this popular Telegram game. Follow our step-by-step guide to get ready for the TAPS token launch.   Quick Take The TapSwap airdrop is expected to conclude by the end of the second quarter of 2024, with the TAPS token launch anticipated to take place in July 2024. Players can participate in the TAPS token airdrop by engaging in the game’s activities, with rewards based on performance. TapSwap encourages community engagement through referral bonuses and community-based tasks, enhancing the gaming experience and earning potential. TapSwap, a leading tap-to-earn game, has recently seen explosive growth, surpassing 50 million users globally. This guide will help you get started with TapSwap and show you how to participate in the upcoming TAPS token airdrop.   An Introduction to TapSwap Tap-to-Earn Game  TapSwap is a tap-to-earn game playable via a Telegram mini app. Players tap a gold coin at the center of the screen to earn points, limited by an “Energy” bar that refills over time. The game offers various tasks, boosts, and referral bonuses to enhance earning potential.   Read more: What Is TapSwap (TAPS)? All About the Viral Telegram Crypto Game   How to Play TapSwap on Telegram  Here’s a general overview of how you can play the TapSwap clicker game on Telegram:    Access the Game: Open the game in Telegram via the provided link. Earn Coins: Tap the screen to earn coins. Use them to buy improvements in the Boost tab. Complete Tasks: Earn additional coins by completing tasks such as joining TapSwap’s community or registering for a Binance exchange account. Referral Bonuses: Invite friends using your referral link to earn more coins. Use Boosts: Enhance tapping abilities with daily free boosters or purchase premium boosts for more coins. TapBot: Earn points passively with the TapBot by checking in every 12 hours to claim rewards. Read more: How to Mine Coins on TapSwap Telegram Crypto Game   TapSwap (TAPS) Token Launch As per a news report on Decrypt, the TAPS token launch was initially scheduled for May 30, 2024, but was postponed to July 1, 2024, to address bot-related issues and ensure fair token distribution. The TapSwap team is working on finalizing the tokenomics and plans to allocate a significant portion of all tokens to the community.   Why Participate in TapSwap Airdrop? Innovative Gameplay: Tap-to-earn mechanics and PvP battles make TapSwap engaging and fun. Lucrative Earning Opportunities: Multiple ways to earn points, including referrals, offer significant earning potential. Strong Community: An active community and regular updates ensure a dynamic and supportive environment. Who Is Eligible for the TapSwap (TAPS) Airdrop?  Anyone who actively participates in TapSwap's in-game activities is eligible for the TAPS token airdrop. This includes tapping to earn points, completing daily tasks and missions, referring friends to the game, and using in-game boosts strategically. The airdrop rewards are based on the player's performance and engagement within the game.    How to Prepare for the TAPS Airdrop: Connect TapSwap Dashboard to Wallet Before the TAPS token launch, you must connect your crypto wallet to the TapSwap dashboard to securely manage and withdraw the coins you mine on TapSwap. Follow these steps:   Log in to Your Dashboard: Access the dashboard through the link provided. Select Your Wallet: Choose from available wallets. Non-custodial wallets like MetaMask are recommended for better security. Connect to MetaMask: Click on the MetaMask option and log in using your password. Complete Registration: Enter your email and verification code. Sign in and connect your wallet. Confirm Connection: Your wallet address will be displayed. Disconnect if needed. Conclusion TapSwap is a notable addition to the Telegram gaming landscape, offering unique gameplay and various earning opportunities. Players can benefit from the airdrop by actively participating in the game's activities. However, it is important to remember that participating in airdrops and earning crypto carries risks, including the potential for fluctuating token values and the need to ensure the security of your digital assets. Always conduct thorough research and consider these risks before engaging in any crypto-related activities.   TapSwap Airdrop FAQs 1. When will the TAPS token launch?  The TAPS token is expected to launch in July 2024.   2. How do I become eligible for the TapSwap airdrop?  Participate in in-game tasks to increase your percentage of the token supply.   3. How can I stay updated on new airdrop tasks?  Join the TapSwap Telegram channel or follow their official X account for the latest updates.   4. What wallet types can I use to connect to TapSwap?  You can use any supported wallet, including non-custodial options like MetaMask. TapSwap also supports exchange wallets and offers extra rewards for connecting some exchange wallets.    5. Is it safe to connect my wallet to TapSwap?  Yes, ensure you use official links and avoid sharing private keys or passwords.

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06/26/2024
Pixelverse (PixelTap) Airdrop: Everything You Need to Know

Learn how to participate in the Pixelverse airdrop by playing PixelTap, a popular web3 game in the Telegram mini-apps ecosystem. Follow our step-by-step guide to maximize your in-game earnings and get ready for the PIXFI token launch.   Quick Take The Pixelverse (PIXFI) airdrop is expected to happen sometime in late June ahead of the token generation event (TGE) in July 2024.  Players can participate in the PIXFI token airdrop by engaging in the game’s activities, with rewards based on performance in the fight feature. PixelTap encourages community engagement through referral bonuses and community-based tasks, enhancing the gaming experience and earning potential.   The Pixelverse (PIXFI) airdrop is expected to conclude by the end of the second quarter of 2024, which means it should be completed by the end of June. The PIXFI token launch is anticipated to take place in July 2024.    Pixelverse, the creator of Pixeltap, has recently raised $5.5 million in a seed round to expand its cyberpunk-themed game ecosystem. This guide will help you get started with PixelTap, the flagship game of Pixelverse, and show you how to participate in the upcoming PIXFI token airdrop.   What Is PixelTap by Pixelverse, Tap-to-Earn Telegram Game? PixelTap is a web3 game set in a cyberpunk universe, designed to be an expandable 2D world using AI and blockchain technology. Players can choose from four main robot characters and participate in various activities to earn in-game rewards. The game emphasizes social gaming with a low barrier to entry.   PixelTap's community-based tasks allow players to unlock new pets and features by:   Reaching follower milestones on Twitter and Discord. Participating in community events and challenges. Read more: PixelTap Daily Combo by Pixelverse Game: Tips to Know   All About the Pixelverse (PIXFI) Airdrop PixelTap is gearing up for the PIXFI token generation event in June, which includes airdrops for players. The more you win in the game, the higher the percentage of the token supply you will receive. Here's how you can join and maximize your earnings.   The airdrop is linked to the PIXFI Token Generation Event, expected in June. Players are rewarded based on their performance in the game's fight feature, with a higher percentage of the token supply allocated to top performers.   Why Participate in PixelTap Airdrop? Innovative Gameplay: The tap-to-earn mechanism and PvP battles make PixelTap engaging and fun. Lucrative Earning Opportunities: With multiple ways to earn points, including referrals, PixelTap offers significant earning potential. Strong Community: An active community and regular updates from the Pixelverse team ensure a dynamic and supportive environment. How to Connect PixelTap Dashboard to Wallet Connecting your wallet to the PixelTap dashboard in Pixelverse is essential for securely managing and withdrawing your in-game earnings, such as PIXFI tokens earned through battles, quests, and referrals. This connection enables seamless transactions and supports trading or holding tokens on supported exchanges once listed.    Additionally, using reputable wallets like MetaMask enhances security and protects your assets from unauthorized access. Furthermore, linking your wallet allows participation in staking activities and governance decisions within the Pixelverse ecosystem, offering additional rewards and a more active community role.    Follow these steps to connect your PixelTap dashboard to a crypto wallet:   Step 1: Log in to Your Dashboard Access the dashboard through the link provided in the description.     Step 2: Select Your Wallet Choose from available wallets. Non-custodial wallets like MetaMask are recommended for better security.     Step 3: Connect to MetaMask Click on the MetaMask option and log in using your password. Ensure MetaMask is already installed on your device.     Step 4: Complete Registration  Enter your email and the verification code sent to your email. Sign in and connect your wallet by following the prompts.   Step 5: Confirm Connection Once connected, your wallet address will be displayed. Disconnect by clicking the disconnect button if needed.     Connecting to an exchange wallet wallet may offer more PixelTap coins or points, but MetaMask is a secure option.   Conclusion PixelTap is an exciting addition to the Telegram gaming world, offering a clear roadmap, reputable team, and innovative gameplay. Join now to take advantage of the airdrop and earn rewards in the Pixelverse ecosystem.   Pixelverse Airdrop FAQs 1. When will the PIXFI token launch? The $PIXFI token is expected to launch in June.   2. How do I become eligible for the PixelTap airdrop? Participate in in-game tasks, especially the fight feature, to increase your percentage of the token supply.   3. How can I stay updated on new airdrop tasks? You can join the Pixelverse Telegram channel or follow their official X account for the latest updates.   4. What wallet types can I use to connect to PixelTap? You can use any supported wallet, including non-custodial options.   5. Is it safe to connect my wallet to PixelTap? Yes, ensure you use official links and avoid sharing private keys or passwords.

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06/26/2024
Will $10 Billion in Bitcoin Repayments from Mt. Gox Weaken BTC Price?

The long-anticipated repayment of $10 billion worth of Bitcoin to Mt. Gox creditors is set to begin in July. While many fear this could lead to a flood of Bitcoin hitting the market, analysts suggest the impact may not be as severe as expected.   Quick Take  Analysts predict the scheduled repayment of $10 billion worth of Bitcoin may not significantly impact prices. Experts believe much of the expected selling pressure from Mt. Gox repayments is already reflected in current market conditions. Many Mt. Gox creditors are long-term holders, less likely to sell immediately despite significant gains. Bitcoin is approaching crucial support levels, indicating potential stabilization or further declines. Mt. Gox, a Japanese cryptocurrency exchange, collapsed in 2014 after a massive hack. The exchange lost around 940,000 BTC, worth approximately $64 million at the time. Over the years, Mt. Gox recovered 141,687 BTC to return to its creditors, which is now valued at $10 billion. These repayments are scheduled to start in early July.   Read more: Bitcoin’s Price Plummets to $61,000: Key Factors Behind the Recent Decline   Analysts Expect Only Around 50% of the BTC to Hit Markets in July  Tony Sycamore, an analyst at IG Markets, estimates that around half of the total Bitcoin — worth roughly $5 billion — could be set to hit the market in July. However, Sycamore believes much of the expected sell pressure is already priced into the current market conditions. He points out that the repayments have been anticipated for a long time and are occurring amidst deteriorating market sentiment, technical selling, and outflows from Bitcoin ETFs.   Galaxy Research suggests that only 65,000 of the total 141,000 BTC might actually hit the market. The firm predicts that about 75% of creditors will opt for an early payout, sacrificing 10% of their repayment, resulting in an approximate 95,000 BTC hitting the market initially. Additionally, 20,000 BTC is owed to claims funds, and 10,000 BTC to Bitcoinica BK, leaving just 65,000 BTC for regular creditors.   Will Mt. Gox Creditors HODL Their Bitcoins?  Sam Callahan, senior analyst at Swan Bitcoin, believes the impact on Bitcoin's price from Mt. Gox distributing Bitcoin is likely overblown. He argues that creditors who wanted to sell their Bitcoin have had more than ten years to do so through selling their bankruptcy claims to more convicted, long-term investors. Callahan also highlights that most creditors will likely hold their Bitcoin because their cost basis is less than $700 per Bitcoin.   Despite the fears, some observers believe that the concerns about the sell pressure from Mt. Gox repayments may be overblown. Alistair Milne, CIO of Altana Digital Currency Fund, noted that distressed or urgent sellers likely sold their claims years ago. He suggests that the remaining creditors are not under pressure to sell immediately.   Bitcoin to Test Levels Between $55k and $75 Bitcoin has been consolidating within a descending parallel channel since its bull run in March 2024. Analysts are closely watching the psychological support level of $60,000 and the 200-day exponential moving average at around $58,000. Independent market analyst Teddy Cleps anticipates Bitcoin could slide towards $61,000, which aligns with historical support levels.   BTC/USDT price chart | Source: KuCoin   The announcement of Mt. Gox repayments has led to increased demand for short-term BTC put options, indicating renewed interest in downside protection. BTC's market dominance fell by 1.8% to 54.34%, reflecting investor apprehension about the potential impact of the repayments.    While Bitcoin's price continues to face downward pressure, some analysts remain optimistic. Michael Novogratz of Galaxy Digital Holdings predicts that Bitcoin will trade within the $55,000-75,000 range throughout Q2 2024, driven by new market events and regulatory clarity.   Read more: Bitcoin Price Prediction 2024   Conclusion The upcoming Mt. Gox repayments have stirred significant concern among Bitcoin investors. However, many analysts believe the impact may be less dramatic than feared. Much of the expected sell pressure appears to be already priced into the market, and many creditors are likely to hold their Bitcoin rather than sell immediately. As Bitcoin approaches crucial support levels, the market's reaction in the coming weeks will be critical in determining its short-term trajectory.  

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06/25/2024
Bitcoin's Price Plummets to $61,000: Key Factors Behind the Recent Decline

In the past 24 hours, the cryptocurrency market has experienced a significant downturn. Major tokens, including Bitcoin (BTC), Ethereum (ETH), Cardano (ADA), and Solana (SOL), have all seen sharp declines. This market slide has led to over $150 million in bullish bets being liquidated.   Quick Take Major cryptocurrencies experienced a sharp decline of up to 7.5% in the past 24 hours, affecting Bitcoin, Ethereum, Cardano, and Solana. Bitcoin's 3% price drop led to over $150 million in bullish bets being liquidated, causing widespread market concern. The decline is attributed to large sales from Bitcoin miners and the German government moving significant amounts of BTC to exchanges. Bitcoin prices are approaching critical support levels, indicating potential further declines if these levels are breached. Bitcoin Takes a Hit Bitcoin has been at the forefront of this downturn, losing 3% of its value. This decline has erased the gains made last week, causing concern among traders and investors. The drop in Bitcoin's price is attributed to several factors, including large sales from Bitcoin miners and the German government moving significant amounts of BTC to exchanges.   BTC/USDT price chart | Source: KuCoin   Altcoins Also Suffer Altcoins have not been spared in this downturn. Ethereum, Cardano, and Binance Coin (BNB) registered similar losses to Bitcoin. Solana's SOL dropped 7%, trading at nearly $120 on Monday morning. Memecoins Dogecoin (DOGE) and Shiba Inu (SHIB) also fell by nearly 5%.   Why Is Bitcoin Price Sliding Down?  Here’s a look at some of the key factors driving Bitcoin prices lower:    Sales from Bitcoin Miners: Bitcoin miners have been under pressure to sell due to higher breakeven prices post-halving. This has resulted in miner BTC holdings dropping to their lowest level in the past 14 years. Singapore-based QCP Capital highlighted that miner BTC reserves are lower by 50,000 from the start of the year. Miners have been selling due to the higher breakeven prices post-halving. QCP Capital noted that this has led to a significant drop in miner BTC holdings, contributing to the market decline. German Government's BTC Sales: The German government allegedly sold around 3,000 BTC recently, with plans to sell another 47,000. This large pool of supply entering the market has spooked investors, contributing to the market decline. The German Federal Criminal Police Office (BKA) moved tens of millions worth of BTC to exchanges like Coinbase and Kraken last week. This move has created additional downward pressure on the market. Whale Activities: Bitcoin whales, entities with large holdings of the coin, sold over $1 billion worth of BTC in the first two weeks of June. This activity has added to the market's bearish sentiment. Broader Market Sentiment: The overall market sentiment has been negatively impacted by these movements, causing a broader sell-off. The CoinDesk 20, which tracks major tokens minus stablecoins, slumped just over 4%. Impact on Liquidations: The market's sharp decline has resulted in significant liquidations. Over $150 million in bullish bets (long positions) were liquidated, while bearish bets (short positions) saw a smaller $9 million in losses. Liquidation occurs when an exchange forcefully closes a trader's leveraged position due to a loss of the trader's initial margin. Read more: MicroStrategy Buys 11,931 BTC More, Total Bitcoin Holdings Worth Around $15B   Is Bitcoin Getting Ready to Test Support at $60,000?  Bitcoin is now heading toward crucial support levels, including the psychological support level of $60,000 and the 200-day exponential moving average (200-day EMA) at around $58,000. Market analysts are closely watching these levels to gauge Bitcoin's next move.   Bitcoin Price Predictions: $50,000 or $75,000?  Market analysts have varying predictions for Bitcoin's price movement. Some believe Bitcoin may find support around the $60,000 level, while others predict further declines to $50,000. Independent market analyst Teddy Cleps anticipates a slide toward $61,000, citing historical support at the 21-weekly EMA.   Bitcoin price chart exhibits double top pattern | Source: 10x Research on X   Bullish Scenarios: Despite the current bearish sentiment, some analysts remain optimistic. Michael Novogratz of Galaxy Digital Holdings predicts that Bitcoin will trade within the $55,000-75,000 range throughout Q2 2024. He believes new market events could drive prices higher after the current stagnation.   Read more: Bitcoin Price Prediction 2024   Conclusion The recent market downturn has highlighted the volatility and sensitivity of the cryptocurrency market to large-scale movements and external factors. While Bitcoin and other major tokens have experienced significant declines, the market's next move will depend on how it reacts to key support levels and upcoming economic data. Investors and traders should remain cautious and closely monitor market developments in the coming days.  

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06/24/2024
Blast Airdrop Guide: How to Unlock Yield Potential

Blast is an Ethereum Layer 2 (L2) solution designed to offer native yield for ETH and stablecoins. Blast has confirmed an airdrop for early users, offering early investors and users an opportunity to earn BLAST tokens.   Quick Take  Blast L2 lets users earn 4% interest on ETH and 5% on stablecoins, providing a significant advantage over other L2 solutions. Early users of Blast can earn and convert airdrop points and Blast Gold to BLAST tokens, enhancing user engagement. Blast has raised $20 million from prominent investors like Paradigm and Standard Crypto, ensuring strong financial backing. What Is Blast Ethereum L2 Network?  Unlike other L2s with a default interest rate of 0%, Blast stands out by providing a 4% interest rate for ETH and 5% for stablecoins. This unique feature, combined with a robust ecosystem and significant investor backing, positions Blast as a game-changer in the blockchain industry.    Blast’s integration with Dune enhances data accessibility. Users can generate dashboards and queries, exploring transaction volumes and smart contract interactions within the Blast network.   Read more: Top Crypto Projects in the Blast Layer-2 Network   All About the Blast Airdrop  Ethereum layer-2 scaling solution Blast is all set to launch its airdrop on June 26, 2024, To qualify, you need to bridge ETH or supported stablecoins (USDT, USDC, DAI) to the Blast Layer 2 network before the mainnet launch. Use an invite code to access the platform, connect your Twitter and Discord accounts, and engage with the Blast ecosystem.  When to Claim Blast Token Airdrop  June 25th: Deadline for dApps to ensure all Gold and Points are allocated to users. June 26th: Conversion of earned airdrop points and Blast Gold to BLAST tokens. How to Qualify for the Blast Airdrop  To qualify for the airdrop:   Log In to the Blast Dashboard: Ensure you log in at least once with your EOA and link any embedded EVM-compatible wallets, such as MetaMask. Secure Your Entitlement: This ensures your points and Gold holdings are accurately accounted for. How to Participate in Blast Airdrop  Here’s a step-by-step guide to help you maximize your airdrop rewards:   Visit the Blast Website: Start by visiting the official Blast website. Use an Invite Code: Enter an invite code to access the platform. Connect Your Wallet: Follow Blast on Twitter and Discord, then connect your web3 wallet. Bridge Your Assets: Transfer ETH or supported stablecoins (USDT, USDC, DAI) from the Ethereum network to Blast L2 using the bridge on the Blast platform. Ensure you have enough ETH to cover transaction fees.   Earn Points and Interest: Once your assets are bridged, you start earning Blast points based on the amount bridged and a 4% interest rate on ETH and 5% on stablecoins. Participate in the Early Access campaign for a 10x multiplier on points. Interact with dApps on Blast to earn Blast Gold. Participate in Multiplier Campaigns: Engage with highlighted dApps on Blast to earn multipliers that boost your points. Ensure all Privy wallets for dApps are linked to your Blast dashboard profile. Invite Friends: Use the referral system to invite friends. You earn additional points from their activity. Earn Blast Gold: Interact with dApps to earn Blast Gold, which can be converted to BLAST tokens along with your points on June 26th. Monitor Your Progress: Track your points and Blast Gold on the Blast dashboard. Engage with the platform regularly to maximize your rewards. Read more: How to Connect to Blast Mainnet   Remember to verify your transactions and check your balance within the Blast platform. Be cautious of phishing attempts and only interact with official channels to avoid scams.    Closing Thoughts  Blast is setting new standards in the blockchain ecosystem with its innovative yield offerings and robust user rewards. With substantial investor backing and a clear roadmap, Blast has the potential to redefine how users interact with L2 solutions.    While the opportunities to maximize earnings are enticing, it is essential to remember that all investments carry risks. Ensure that you thoroughly research and consider your risk tolerance before participating. Stay informed and make the most of what Blast has to offer by staying engaged and proactive.  

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06/24/2024
USDT on TRON Surpasses Visa in Daily Trading Volume

New data reveals that the daily average volume of Tether (USDT) on the TRON blockchain has surpassed that of Visa. Market intelligence firm Lookonchain reported that Tether's dollar-pegged digital asset over TRON reached a 24-hour trading volume of $53 billion. This figure represents a nearly 10% rise on the day. In contrast, Visa's average daily trading volume stood at $42 billion.   Quick Take  Tether's USDT reached a 24-hour trading volume of $53 billion on the TRON blockchain, exceeding Visa's average daily volume of $42 billion. Within the same 24-hour period, USDT on TRON recorded over 2 million transfers, marking a 5.14% increase. TRON has become the leading blockchain for USDT transactions, holding 53.7% of the token's market cap. TRON Leads in USDT Transactions, Accounts for Over 50% Market Cap  Among the many blockchains supporting USDT, TRON has emerged as the leader. Recent figures show that TRON commands $59.3 billion, or 53.7%, of USDT's (TRC-20) market cap as of Q1 2024. In contrast, Ethereum, which was previously the dominant chain for USDT (ERC-20), held $50.7 billion or 45.97% of USDT's Q1 market cap. TRON's rise is attributed to its lower costs and faster transaction speeds compared to Ethereum.   2 Million Transfers in One Day USDT transactions dominate on TRON network | Source: Lookonchain    Lookonchain’s chart highlights that USDT saw over 2 million transfers within the same 24-hour period, a 5.14% increase. This surge underscores the growing adoption and usage of stablecoins in the digital economy.   Tether Launches Gold-Backed Stablecoin aUSDT Tether recently announced the launch of a new gold-backed stablecoin with overcollateralized reserves, known as aUSDT. This digital asset will be backed by Tether Gold (XAUT), which is stored in physical gold reserves in Switzerland. Tether CEO Paolo Ardoino stated, “This innovative solution marks an exciting milestone, and we eagerly anticipate how it will interact with the rest of the market."   Stablecoin Regulation on the Rise in Key Markets  As stablecoin usage expands, governments are crafting regulatory frameworks to support their use while maintaining financial integrity. In the U.S., Senators Kirsten Gillibrand and Cynthia Lummis introduced the bipartisan Lummis-Gillibrand Payment Stablecoin Act, which aims to create a comprehensive regulatory framework for stablecoins. This legislation addresses issuance, redemption, and reserve mandates for stablecoin providers.   In the U.K., HM Treasury is advancing its stablecoin plans with Phase 1 of its regulatory strategy, focusing on issuing, custody, and using stablecoins. Firms involved in UK payment transactions using stablecoins will need to seek authorization as payment service providers and will be supervised by the Financial Conduct Authority.   How Will EU’s MiCA Regulations Affect Tether (USDT) Use?  The European Union’s Markets in Crypto Assets (MiCA) regulation, set to take full effect on June 30th, 2024, imposes stringent regulations on fiat-backed stablecoins and e-money tokens. MiCA's key provisions include a 1:1 backing of fiat-based stablecoins with liquid reserves and a prohibition on algorithmic stablecoins. Uphold, a New York-based crypto exchange, announced the delisting of six stablecoins, including USDT, in response to MiCA.   Conclusion The rising volume of USDT on the TRON network, surpassing Visa’s daily transaction volume, marks a significant milestone in the digital finance landscape. As stablecoins like USDT continue to grow in prominence, they offer a bridge between volatile digital assets and traditional fiat currencies. The introduction of new regulations globally aims to ensure the stability and integrity of these digital assets, further integrating them into the mainstream financial system.  

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06/24/2024
Pantera Capital Eyes New Investment in Toncoin (TON): Bullish Outlook?

Pantera Capital, an American investment firm, is reportedly preparing to raise funds for a new investment in Toncoin (TON). This follows Pantera's earlier significant investment in TON, marking one of its largest investments to date.   Quick Take  Pantera Capital is raising funds for a new significant investment in Toncoin (TON), indicating strong confidence in TON's long-term potential.  TON reached an all-time high (ATH) last week despite a broader market downturn and is currently trading around 12% below this peak.  Toncoin's growth is driven by its solid ecosystem, including popular TON-based games and USDT integration on the TON network.  Pantera Capital Plans More Investments in Toncoin (TON): $250k per Investor Journalist Yogita Khatri from The Block revealed that Pantera is soliciting funds for another TON token investment. According to an email reviewed by the publication, titled "Pantera TON Investment Opportunity," a minimum investment of $250,000 is required. Interested parties were to respond by June 21.   “We are inviting you to participate in the upcoming round of this investment opportunity,” stated the email.   Toncoin Slides 12% From Its ATH  Toncoin ranks as the ninth-largest cryptocurrency by market capitalization. Last week, TON reached an ATH despite a broader market downturn. It is now just 12.8% below its ATH, recorded on June 15. The Open Network (TON) blockchain has garnered significant interest due to the popularity of TON-based games such as TapSwap, Pixelverse, Hamster Kombat, and Notcoin.   TON/USDT price chart | Source: KuCoin    Over the last 24 hours, Toncoin saw a 5.6% price dip. However, trading volume has shown a spike of almost 65% to over $335 million. At press time, TON was trading at $7.18, having retested the $7.659 level and weakened it further. If bullish interest continues, TON could reclaim its previous ATH.   The low volume spike suggests a few possibilities. It could be a short squeeze, forcing short sellers to buy back TON, with limited sellers remaining to push the price higher. Alternatively, large investors might be accumulating TON at a premium, driving up the price without a high volume of trades.   Read more: Toncoin Touches New ATH as TON TVL Surges 77% in June   TON Technical Analysis: RSI Suggests High Bullish Momentum The Relative Strength Index (RSI) for TON was at 66.4, indicating high bullish momentum. The Chaikin Money Flow (CMF) also grew significantly, showing a surge in money flowing into Toncoin.   Long-term holders, as analyzed by AMBCrypto using IntoTheBlock’s data, hold TON for around 6.8 months on average. This indicates a commitment to long-term investment, reducing the overall supply of TON available for trading and potentially contributing to price increases.   Telegram Games Boost TON Ecosystem Adoption  Both the network growth and the velocity of the TON token have fallen in recent weeks. However, with the recent price surge, these metrics have also increased, indicating new interest and increased trading frequency.   Toncoin's growth is driven by its ecosystem fundamentals. Its link with Telegram and highly adopted game applications have triggered intense demand. New games are attempting to replicate the success of the Notcoin game, which hit millions in Total Value Locked (TVL) at launch.   Read more: A Deep Dive Into The Open Network (TON) and Toncoin   Analyst’s Toncoin Price Expects Test of $7 Amidst the bullish trend, market analyst Ali Martinez projected a potential retracement for Toncoin. Using the TD Sequential indicator, Martinez predicted a one to four candlesticks drop for TON, closer to the $7 mark.    Crypto analyst Ali’s TON price prediction | Source; X    This projection emphasizes the need for risk management for current TON holders. While the fundamentals remain strong, an overbuying trend could lead to a price reversal.    Conclusion Pantera Capital’s renewed interest in Toncoin signals strong confidence in its long-term potential. Despite potential short-term volatility, TON’s robust ecosystem and committed long-term holders provide a solid foundation for future growth. Investors should consider both the opportunities and risks associated with Toncoin's dynamic market performance.  

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06/24/2024
McKinsey Forecasts Tokenized Financial Assets to Touch $2 Trillion by 2030

Tokenized financial assets, once a futuristic concept, are on track to reach a market size of about $2 trillion by 2030, according to McKinsey & Company analysts. Despite a slower than anticipated start, the firm projects a significant uptick in tokenization, potentially doubling this market size to $4 trillion in an optimistic scenario.   Quick Take  Tokenized financial assets could reach $2 trillion by 2030, with a bullish scenario of $4 trillion. Broad adoption remains distant due to the complexity of modernizing financial infrastructure. Cash and deposits, bonds, ETNs, mutual funds, and loans are expected to lead in tokenization. The Tokenization Landscape Tokenization involves creating a unique digital representation of an asset on a blockchain network. This process promises benefits such as enhanced transparency, programmability, and increased liquidity. While there has been progress, the adoption has been slow due to regulatory challenges and the need for financial infrastructure modernization.   Read more: The Rise of Real World Asset Tokenization (RWA): Unlocking Asset Liquidity   Industry outlook for tokenized assets | Source: McKinsey    McKinsey's report indicates that the first wave of adoption will likely focus on specific financial instruments like cash deposits, bonds, ETNs, mutual funds, and loans. These assets are expected to achieve significant tokenization by 2030, reaching a market capitalization of $100 billion.   Overcoming the Cold Start Problem Tokenization faces a "cold start problem," where initial adoption is slow due to limited liquidity and the need for valuable use cases. For example, while tokenized bonds are being issued regularly, their benefits over traditional bonds are minimal, and secondary trading remains scarce.   Tokenization adoption scale | Source: McKinsey    To overcome this, McKinsey suggests focusing on use cases where tokenization offers clear advantages over traditional systems, such as faster settlement times and greater liquidity. One promising area is tokenized bonds, which are already seeing billions of dollars in issuance but need more liquidity and mobility to truly take off.   Strategic Moves for Early Adopters Financial institutions that adopt tokenization early can gain a strategic advantage. These early movers can capture a larger market share, set industry standards, and benefit from increased efficiency. However, many institutions remain in a "wait and see" mode, hesitant to fully commit until the market shows clearer signs of adoption.   Read more: Top 5 Crypto Projects Tokenizing Real-world Assets (RWAs) in 2024   Indicators of Tipping Point McKinsey's analysts point out several indicators that will signal when tokenization has reached a tipping point:   Scalable Blockchains: Blockchains capable of handling trillions of dollars in transaction volume. Seamless Connectivity: Interoperability among different blockchain networks. Regulatory Clarity: Clear guidelines on data access and security. Widespread Adoption: Significant buy-side demand for tokenized assets. Future Prospects of Asset Tokenization  Despite the slow start, tokenization is moving from pilot projects to at-scale deployments. The benefits of tokenization, such as operational efficiencies, increased liquidity, and new revenue opportunities, are beginning to materialize. As these benefits become more apparent, the adoption of tokenization is expected to accelerate, particularly in asset classes like mutual funds, loans, and bonds.   Challenges and Opportunities The path to widespread tokenization is not without challenges. Modernizing financial infrastructure is complex, especially in a heavily regulated industry. There are also concerns about liquidity, regulatory compliance, and the interoperability of blockchain networks.   However, the potential rewards for overcoming these challenges are significant. Tokenization can transform how financial services operate, offering faster, more efficient transactions and greater access to global capital markets.   Conclusion As we approach 2030, the landscape of financial assets is poised for transformation. With a potential market size of $2 trillion, and up to $4 trillion in an optimistic scenario, tokenization offers a glimpse into the future of finance. Financial institutions that embrace this shift early on will be well-positioned to reap the benefits and lead the industry into a new era of digital finance.   Tokenization of financial assets is at a crucial juncture. While the road ahead is challenging, the potential benefits make it a compelling area for investment and innovation. Early adopters who navigate the complexities and lead the way in tokenization can gain a significant strategic advantage and shape the future of financial services.  

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06/24/2024
Top Euro Cup 2024 Memecoins to Watch

The UEFA European Championship, Euro 2024, hosted by Germany, is set to captivate football fans and crypto enthusiasts alike between June 14 and July 14, 2024. This year, the tournament has sparked a new wave of Euro Cup memecoins, blending the excitement of football with the crypto world. These trending Euro 2024 memecoins, inspired by teams and players, are quickly gaining traction.   Quick Take Yuro 2024 (YURO): Surged 317% in early June, now hovering around $5.4 million market cap. Euro Cup Inu (ECI): Combines football fandom and crypto betting with a deflationary token model. ENGLUND: Launched on Solana, tied to England's performance in Euro 2024. ALBART: Mascot-themed coin, gained 637% in just four days. Kane on SOL: Harry Kane-inspired coin, showing strong growth. Jood: Jude Bellingham-themed coin, supporting prostate cancer charity. Yuro 2024 (YURO): Euro Cup 2024’s Leading Memecoin YURO/USD price chart | Source: Coinmarketcap    One standout memecoin is Yuro 2024 (YURO), which was created in anticipation of the tournament. Solana-based memecoin YURO's value surged by 317% in early June, reaching a market cap of $5.4 million. The coin's popularity is driven by its active community and the hype surrounding Euro 2024. With each goal, yellow card, and match outcome, YURO's value fluctuates, creating an engaging and speculative investment opportunity for fans.   Euro Cup Inu (ECI): Dynamic Betting Platform for Euro 2024 ECI/USD price chart | Source: Coinmarketcap   As the excitement builds for the European Cup 2024, European Cup Inu (ECI) emerges as a thrilling opportunity for football fans and crypto enthusiasts alike. This unique crypto meme project based on The Open Network (TON) serves as both a mascot for the European Cup and a dynamic betting platform, allowing ECI token holders to place bets on their favorite European teams. Designed to be user-friendly and rewarding, the platform burns 3% of every bet amount in ECI, creating a deflationary effect and enhancing the token's value. With a secure, transparent system and a dedicated community, ECI stands out in the crypto space, offering a novel and engaging way to participate in the tournament.   ENGLUND: Betting on England's Success ENGLUND/USD price chart | Source: Coinmarketcap    ENGLUND is another memecoin to watch. Launched on June 9 on the Solana network, its value has ranged between $600,000 and $1.7 million. The coin's growth is closely tied to the performance of the England national team. As England is a favorite to win the tournament, positive results on the pitch could significantly boost ENGLUND's value.   ALBART: The Mascot Memecoin ALBART/USD price chart | Source: Coinmarketcap    ALBART, themed after the Euro 2024 mascot based on Solana, has also gained attention. Starting at $0.004451 on May 28, ALBART's value skyrocketed by 637% in just four days. This coin leverages the mascot's popularity and the excitement of the upcoming tournament to attract investors.   Player-Themed Memecoins: Kane on SOL and Jood KANE/USD price chart | Source: Coinmarketcap    Kane on SOL, inspired by England's star striker Harry Kane, has shown promising growth. This coin appeals to both football fans and crypto enthusiasts who are eager to capitalize on Kane's performance in the tournament.   JOOD/USD price chart | Source: Coinmarketcap    Jood, named after Jude Bellingham, another star player, is also gaining traction within the Solana ecosystem. This coin has a charitable aspect, with donations being made to prostate cancer research as its market cap increases. Jood's unique blend of charity and investment makes it a notable contender in the memecoin market.   The Impact of Memecoins on Euro 2024 Memecoins are not just about speculation; they represent a cultural shift in how fans engage with sports events. The fusion of football and cryptocurrency offers fans a new way to participate in the excitement of Euro 2024. These coins allow fans to support their favorite teams and players financially, creating a deeper connection with the tournament.   Why Are Memecoins Thriving? Several factors contribute to the success of these memecoins:   Community Engagement: Memecoins thrive on social media hype and community support. Platforms like Telegram and Twitter are abuzz with discussions about these coins, driving their popularity. Speculative Appeal: Just like traditional sports betting, investing in memecoins provides a thrill for speculators. The volatility of these coins makes them an attractive option for those looking to make quick profits. In the prediction markets, they also offer potential profit-making opportunities as they offer holders to use them to place bets on certain teams or players.  Integration with Sports Events: By tying their value to real-world events like Euro 2024, these coins create a unique investment opportunity. The performance of teams and players directly impacts the coins' values, adding a layer of excitement. Accessibility: Memecoins are easy to buy and trade, making them accessible to a wide audience. The low entry barriers encourage more people to participate. The Future of Memecoins As Euro 2024 progresses, the memecoin market is expected to remain highly dynamic. New coins will likely emerge, inspired by various teams and players. The success of these coins could pave the way for similar trends in future sports events, such as the Olympics or the World Cup.   For investors, it's crucial to approach memecoins with caution. While they offer the potential for high returns, they are also highly volatile and speculative. It's essential to do thorough research and only invest what you can afford to lose.   Read more: Best Memecoins to Know in 2024   Conclusion Euro 2024 has brought excitement to the memecoin market. Coins like Yuro 2024, ECI, ENGLUND, ALBART, Kane on SOL, and Jood are leading the way, offering football fans and crypto enthusiasts a new way to engage with the tournament. As the games progress, the performance of these memecoins will be closely watched, providing both thrills and opportunities for investors. However, it’s important to remember the volatile nature of these investments and proceed with caution.  

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06/21/2024
MicroStrategy Buys 11,931 BTC More, Total Bitcoin Holdings Worth Around $15B

MicroStrategy, a Nasdaq-listed software firm, has made waves again by acquiring an additional 11,931 Bitcoin (BTC) for $786 million. This purchase boosts their total holdings to 226,331 BTC, valued at just under $15 billion at current prices. Michael Saylor, the company's Executive Chairman, continues to lead the charge in Bitcoin accumulation, having begun this strategic move in 2020.   Quick Take  MicroStrategy acquires 11,931 BTC for $786 million, bringing its total holdings to 226,331 BTC worth nearly $15 billion. Winklevoss twins donate $2 million in Bitcoin to support Donald Trump, highlighting the intersection of crypto and politics. Institutional interest in Bitcoin is growing, with analysts predicting prices could reach $100,000. MicroStrategy’s Bold Move: Adding 11,931 BTC MicroStrategy's latest purchase price averaged $36,798 per Bitcoin. This follows an $800 million convertible note offering to institutional investors. Initially set at $500 million, the offering size increased due to high demand, finally closing at $800 million. Earlier, in March, the company acquired 9,245 BTC for $623 million through a similar debt issuance.   Saylor's strategy aims to encourage other corporations to adopt Bitcoin as a reserve asset. While a few companies have added Bitcoin to their balance sheets, the most notable is Semler Scientific (SMLR). Recently, Semler not only acquired Bitcoin but also tapped capital markets to purchase more, echoing MicroStrategy's approach.   Read more: MicroStrategy's Bitcoin Holdings and Purchase History: A Strategic Overview   Market Reactions and MSTR Share Performance MSTR stock price | Source: TradingView    Since MicroStrategy started buying Bitcoin, its shares have soared nearly tenfold. Semler's shares have also risen by over 60% since their first Bitcoin acquisition in late May. Recently, brokerage firm Bernstein set a $2,890 price target for MicroStrategy shares, giving them an outperform rating. Currently, MSTR is trading at $1,507, up 2% premarket.   Winklevoss Twins Donate $2 Million in Bitcoin to Support Donald Trump In a notable development, cryptocurrency billionaires Tyler and Cameron Winklevoss have each donated $1 million worth of Bitcoin to support Donald Trump’s 2024 campaign. This significant contribution highlights their alignment with Trump's pro-crypto stance. Tyler Winklevoss expressed his support, citing Trump's favorable policies towards Bitcoin, crypto, and business.   The donations are intended for the Trump 47 Committee, a joint fundraising committee. The Winklevoss twins' support marks a shift in Trump’s position on cryptocurrencies. Once a skeptic, Trump has embraced Bitcoin, positioning it as a defense against Central Bank Digital Currencies (CBDCs). This support from influential crypto figures like the Winklevoss twins underscores the growing intersection of cryptocurrency and politics.   Bitcoin Miners Diversify Into Trending Sectors Bitcoin miners are increasingly diversifying into the booming artificial intelligence (AI) sector. The transition is driven by reduced mining rewards and the high demand for energy-intensive data centers by AI firms. This shift reflects miners’ efforts to boost revenue through new channels.   Bitcoin Trades Around $65,000, Analysts Prediction $100,000 BTC/USDT price chart | Source: KuCoin    Bitcoin, trading around $65,715, has seen a slight increase, sparking cautious optimism. Notably, a crypto whale recently bought 6,070 BTC worth approximately $395 million, marking their first significant purchase in over 18 months. This whale's strategic buys and sells in previous market cycles indicate renewed faith in Bitcoin’s future.   Crypto analysts remain optimistic about Bitcoin's trajectory, with some forecasting a rise to $100,000. Ali Martinez notes that over 70% of open Bitcoin positions on Binance are bullish. Another analyst, Jelle, highlights Bitcoin's support levels and suggests that a bounce could propel the price to $72,000 soon, setting the stage for a potential climb to $100,000.   Increasing Institutional Interest in BTC  Institutional investors are increasingly eyeing Bitcoin, signaling broader acceptance and integration into mainstream finance. According to CoinCodex, Bitcoin's price could rise by 30% to over $85,000 in July, despite current bearish technical indicators. This potential disconnect between market sentiment and price action underscores the complex dynamics at play.   Bitcoin Faces Selling Pressures in the Short-Term Despite bullish Bitcoin price predictions, some traders and analysts point out challenges. CryptoQuant's data shows significant selling by long-term holders and miners, with over $1.2 billion worth of BTC sold in the past two weeks. This selling pressure, coupled with stablecoin liquidity slowing, indicates some hesitance among large holders.   Spot Bitcoin ETF Performance Expectations for a rate cut in September | Source: CME FedWatch    U.S.-listed Bitcoin ETFs have seen net outflows, with $600 million withdrawn last week. The CME FedWatch Tool shows a 35.9% chance of the Fed maintaining interest rates in September, affecting Bitcoin demand.   Future Outlook Despite recent price dips and selling pressures, Bitcoin's long-term outlook remains positive. Institutional interest, strategic corporate purchases, and bullish analyst predictions suggest a potential for significant price gains. As market dynamics evolve, Bitcoin's role as a reserve asset and investment vehicle continues to grow.   Conclusion MicroStrategy's latest Bitcoin purchase underscores the company's commitment to Bitcoin as a strategic asset. This move, along with bullish market sentiment and growing institutional interest, paints a promising picture for Bitcoin's future. However, market watchers should stay alert to potential challenges and shifts in investor behavior.  

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06/21/2024
Solana Fund: 3iQ Files for North America's First Solana ETF on the Horizon

3iQ, a leading Canadian investment fund manager, has taken a significant step in the digital asset investment space. The company announced today that it has filed a prospectus with the Ontario Securities Commission (OSC) to launch North America's first publicly traded Solana exchange-traded product (ETP). This new fund, called the Solana Fund, will trade under the ticker QSOL, pending approval by the OSC.   Quick Take  3iQ, a leading Canadian investment fund manager, has filed a prospectus with the Ontario Securities Commission (OSC) to launch the first publicly traded Solana ETP in North America. The Solana Fund, trading under the ticker QSOL, will be listed on the Toronto Stock Exchange (TSX). The fund will offer investors exposure to both the price movements of Solana and the staking yield generated by the Solana network A New Era for Solana Investors The Solana Fund aims to provide investors with easy exposure to Solana (SOL) without the technical complexities of direct investment. In addition to tracking the price movements of SOL, the fund will also offer exposure to the staking yield generated by the Solana network. This feature allows investors to benefit from both price appreciation and staking rewards.   Greg Benhaim, Executive Vice President of Product and Head of Trading at 3iQ, expressed the company's vision in a release: “3iQ seeks to set a global standard of excellence, and we’re proud to work closely with the OSC to responsibly enhance the digital asset investment landscape in Canada.”   “As pioneers in digital asset investment management, we look forward to continuing our mission to deliver regulated investment vehicles. We embody the highest standards and work with best-in-class partners for individual and institutional investors to efficiently access the growing crypto asset class,” Benhaim continued.   3iQ has a track record of pioneering digital asset investment products. It was among the first fund managers to list a Bitcoin fund, the Bitcoin Fund, on the Toronto Stock Exchange (TSX). It also launched the first publicly listed Ether fund in Toronto. The company's move to support Solana adds to its reputation for innovation in the crypto investment space.   Solana Fund will Support Staking-Enabled Investment The Solana Fund will follow the model of 3iQ's existing Ether ETPs by enabling staking. This means that the fund will stake SOL to earn rewards, which will be passed on to investors. Christopher Matta, a Strategic Advisor to 3iQ, highlighted this innovative approach in a phone interview with CoinDesk: “Our goal is to continue pushing the envelope and maintaining Canada as an innovation hub. The Solana ETP will have staking enabled, allowing us to pass through the yield to investors.”   Read more: BlackRock Eyes Solana ETF: A Game-Changer for Crypto Adoption   Solana's Growing Market Presence Solana, with a market cap of $61 billion, is the fifth-largest cryptocurrency, trailing only Bitcoin (BTC), Ethereum (ETH), the dollar-pegged Tether (USDT), and Binance Coin (BNB). The launch of the Solana Fund marks a significant milestone for the cryptocurrency, highlighting its growing importance in the digital asset ecosystem.   The fund's listing on the TSX will provide investors with a regulated and convenient way to gain exposure to Solana. “The Solana Fund offers easy exposure to SOL without technical complexity,” 3iQ stated. This move aligns with the company's strategy to make digital asset investment accessible and straightforward.   Canadian Innovation Leads the Way Canada has been at the forefront of crypto ETP innovation. The country had spot Bitcoin ETFs and spot Ethereum ETFs before the U.S. even introduced futures ETFs for these assets. Bloomberg analyst James Seyffart noted this trend, highlighting that Solana funds are already established in other parts of the world. “You guys would be stunned to realize we already have over $1 billion in Solana ETPs elsewhere in the world,” he tweeted.   Standard Chartered, a British multinational bank, has also predicted that Solana and XRP would be the next cryptocurrencies to receive ETF approval from the U.S. Securities and Exchange Commission (SEC). Geoffrey Kendrick, Standard Chartered’s head of crypto research, pointed out the similarities in core technology between Solana, XRP, and Ethereum, suggesting that SEC approval could be imminent.   Solana's Network Activity Surge Solana has been experiencing a resurgence in network activity. Since the beginning of the year, the network has seen a massive increase in transactions. The 7-day average of non-voting transactions recently reached a two-year high of 38.37 million. Daily transactions have consistently hovered near 40 million since June began, indicating significant network usage.   Solana DeFi TVL | Source: DefiLlama    On June 12th, Solana witnessed its third-highest day ever in terms of active accounts, with over 1.23 million unique wallets interacting with the network. The DeFi sector on Solana is also thriving, with the total value locked (TVL) in Solana DeFi projects remaining comfortably above $4 billion, according to DefiLlama.   Solana Market Sentiment Failed to Pick Up  Despite the positive developments, Solana faces challenges on the social front. Social volume around Solana has fallen, and the weighted sentiment has also declined, indicating an increase in negative comments compared to positive ones. This waning interest on social platforms could hinder Solana's potential growth in the long run.   SOL/USDT price chart | Source: KuCoin   At the time of writing, Solana trades around $132, down over 10% for the week. However, as the fifth largest crypto, Solana enjoys a market cap of over $61 billion with a market dominance of 2.7%.    Conclusion The launch of the Solana Fund by 3iQ marks a significant milestone in the digital asset investment landscape. It provides investors with a regulated and straightforward way to gain exposure to Solana, combining price movements and staking rewards. As Canada continues to lead in crypto ETP innovation, the Solana Fund represents the latest step in making digital asset investment accessible to a broader audience.  

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06/21/2024