DeFi protocols have been setting the crypto space ablaze, with their total value locked skyrocketing past $100 billion. This explosive growth has been propelled by the allure of financial innovation, the tantalizing prospect of massive gains, and the ever-deepening integration with major blockchain ecosystems like Cosmos. As adoption and investment into these emerging DeFi protocols goes stratospheric, trailblazers like Elys Network are spearheading the charge.

Elys Network is unquestionably one of the most thrilling and ambitious projects tackling the insatiable demand for DeFi. They're unleashing an innovative layer-1 blockchain platform jam-packed with features like a non-custodial AMM-style DEX, perpetual trading capabilities, and game-changing liquidity and staking solutions. These cutting-edge offerings empower both crypto veterans and DeFi devs to tap into a comprehensive suite of financial artillery.

We sat down with Mitchell MishiNura, the founder of Elys Network to dissect how their platform benefits crypto users and DeFi developers, as well as the groundbreaking changes they're igniting across the decentralized finance landscape.

1. What is the core mission of Elys Network, and how does it aim to achieve this mission?

Elys Network is a high-performance decentralized exchange (DEX) platform designed to cater to both new and experienced crypto users. It simplifies the crypto trading experience with intuitive user interface (UI) and user experience (UX), providing a seamless trading environment comparable to centralized exchanges (CEX). For beginners, Elys Network offers easy onboarding through account abstraction and on-off ramping capabilities, allowing quick access to trading and earning. Experienced traders benefit from advanced tools and strategies within a feature-rich, user-friendly platform.

As a Layer-1 blockchain, Elys Network connects seamlessly with various ecosystems like Bitcoin, Ethereum and Ethereum L2s as well as Solana. Its integration with Cosmos SDK chains ensures cross-chain interoperability, providing access to a broad spectrum of trading opportunities. Elys Network's mission is to deliver an efficient and comprehensive trading experience for all crypto users, emphasizing user experience, advanced trading features, and extensive cross-chain functionality.

2. Can you explain the key features and components of Elys Network, such as the layer-1 blockchain, decentralized exchange, and perpetual trading capabilities?

Elys Network addresses the fragmented DeFi landscape by offering a unified platform where users can access features like AMMs, perpetual exchanges, leverage LP, all in one place. It caters to both beginners and experts, streamlining the decentralized finance experience.

Elys has developed a Layer 1 blockchain optimized for trading, supporting all platform products and ensuring efficient user experience. The network's revenue model shares earnings among stakers and liquidity providers, enhancing each feature's utility and maximizing overall community returns.

By interconnecting its diverse features, Elys Network generates higher yields for users, distributing revenue in stablecoins to mitigate volatility. While holding the Elys token is optional, it maximizes yield opportunities. Elys Network aims to provide a comprehensive, user-friendly DeFi platform, offering seamless integration of various tools and unique value in the DeFi space.

3. How does Elys Network's open-sourced and decentralized architecture promote transparency, collaboration, and community-driven development?

Elys Network's open-sourced and decentralized architecture is designed to promote transparency, collaboration, and community-driven development. At the core of this approach is the use of a proof-of-stake chain built with the cosmos SDK, which fosters decentralization and empowers the community to shape the network's direction.

Every update and decision made by Elys Network will be voted on by stakeholders, ensuring that the community has a direct say in the platform's future. This commitment to decentralization is complemented by a strong emphasis on transparency and regulatory compliance. Elys Network prides itself on being among the most transparent projects implementing necessary measures to adhere to regulations.

The centrality of the community is a defining aspect of Elys Network's identity. The diverse community plays a significant role in shaping the future of the platform and actively guides newcomers in the ecosystem. Many users have joined thanks to the simplicity provided by the platform's wallet abstraction, and they are eager to delve deeper into the ecosystem created by Elys Network.

Elys Network actively collaborates with notable projects like Babylon, Lorenzo and Stride, continuously expanding its partnerships across various ecosystems to enhance its offerings and integrate more seamlessly with the broader DeFi landscape. This strategy ensures that Elys Network remains at the forefront of innovation, providing users with a robust, interconnected platform that maximizes their DeFi experience while maintaining transparency, decentralization, and community-driven development.

4. What are the benefits of Elys Network's non-custodial Automated Market Maker (AMM) style decentralized exchange (DEX) for crypto users and DeFi developers?

Elys Network's non-custodial Automated Market Maker (AMM) decentralized exchange (DEX) offers advanced features tailored for both crypto users and DeFi developers. Beyond a basic AMM, the DEX includes sophisticated tools to enhance trading efficiency and address common issues like impermanent loss (IL).

A standout feature is the Dynamic Weight Oracle Pools, which adapt weights based on buy and sell demand, minimizing IL compared to traditional fixed-weight pools. These pools also use vaults and adaptable fees to maintain balanced ratios and incentivize traders, simplifying the arbitrage process.

Another innovation is the Multi-Asset Pools, which support up to 8 assets and work like ETFs, allowing users to create diversified asset baskets with variable exposure. This provides a customizable investment approach, dense liquidity for the DEX, and stable USDC revenue for those seeking diversified exposure.

Elys Network's DEX facilitates trading with sophisticated tools for liquidity management and revenue generation, catering to diverse needs. Advanced features like Dynamic Weight Oracle Pools and Multi-Asset Pools empower users and developers with efficient trading, customizable investments, and revenue opportunities.

5. How does Elys Network's integration with the Cosmos ecosystem and leveraging of technologies like account abstraction and cross-chain interoperability enhance its capabilities?

Elys Network's non-custodial Automated Market Maker (AMM) decentralized exchange (DEX) offers advanced features tailored for both crypto users and DeFi developers. Beyond a basic AMM, the DEX includes sophisticated tools to enhance trading efficiency and address common issues like impermanent loss (IL).

A standout feature is the Dynamic Weight Oracle Pools, which adapt weights based on buy and sell demand, minimizing IL compared to traditional fixed-weight pools. These pools also use vaults and adaptable fees to maintain balanced ratios and incentivize traders, simplifying the arbitrage process.

Another innovation is the Multi-Asset Pools, which support up to 8 assets and work like ETFs, allowing users to create diversified asset baskets with variable exposure. This provides a customizable investment approach, dense liquidity for the DEX, and stable USDC revenue for those seeking diversified exposure.

Elys Network's DEX facilitates trading with sophisticated tools for liquidity management and revenue generation, catering to diverse needs. Advanced features like Dynamic Weight Oracle Pools and Multi-Asset Pools empower users with efficient trading, customizable investments, and revenue opportunities.

6. In what ways does Elys Network prioritize accessibility, security, and scalability, and why are these factors crucial for widespread adoption of DeFi?

Elys Network prioritizes accessibility, security, and scalability to drive widespread DeFi adoption. Leveraging the Cosmos ecosystem's proof-of-stake (PoS) model ensures robust security and flexibility through the customizable Cosmos SDK. This enables Elys to optimize its blockchain specifically for trading, addressing performance and scalability challenges.

A key feature is Interchain Security (ICS) V2, which secures Elys Network by utilizing part of the Cosmos Hub's validators and the market cap of ATOM, reducing incentive costs while maintaining high security. This innovative approach offers economic sustainability and lower security costs for projects.

Elys Network enhances accessibility by integrating account and chain abstraction, combined with a user interface similar to centralized exchanges (CEXs). This design simplifies user interaction, making the platform intuitive for all users and allowing seamless asset management and trading across different blockchains like Bitcoin / Solana / EVM chains without needing to understand their complexities.

These strategies underscore Elys Network's commitment to creating a user-friendly, secure, and scalable DeFi platform, bridging traditional and decentralized finance by harnessing the strengths of the Cosmos ecosystem while optimizing for trading needs.

7. Can you elaborate on Elys Network's innovative liquidity and staking solutions, and how they benefit the platform's ecosystem?

Staking is central to Elys Network's Layer 1 blockchain, offering various innovative staking solutions to enhance user engagement and reward mechanisms. The platform provides multiple staking options to cater to different user preferences and incentivize participation across activities.

A notable feature is USDC staking, where users stake their USDC, making it available to leverage liquidity providers (LPs). USDC stakers earn yield from fees charged to LPs, thus contributing to the platform's liquidity and earning rewards.

Elys Network also includes an ELYS staking mechanism, where stakers receive a portion of the platform's daily revenue in stablecoins and additional incentives in EDEN, a reward token convertible to ELYS. This encourages ELYS holders to actively engage with and support the ecosystem.

The revenue distribution model is designed to reward various activities: liquidity providers earn a share of DEX revenue in USDC, USDC stakers gain interest from lending fees, and both ELYS and EDEN stakers receive a portion of DEX revenue in USDC.

By offering diverse and attractive staking options along with a robust revenue distribution model, Elys Network aims to build an engaging and rewarding ecosystem. This supports the platform's health, growth, and fosters a thriving decentralized finance (DeFi) environment.

8. How does Elys Network aim to bridge the gap between traditional finance and DeFi, fostering financial sovereignty for all?

Elys Network's ultimate goal is to bridge the gap between traditional finance and DeFi, fostering financial sovereignty for all. The platform's features empower users with complete freedom to make their own choices, without the restrictions of traditional finance, as long as the blockchain is running.

Respecting privacy, Elys Network does not require KYC from users, although some products may be geo-blocked to comply with regulations. The aim is to provide simple and complex solutions for all types of users, with easy on-boarding.

Compared to the typical 2% return offered by banks, Elys Network enables users to put their USDC to work for a much higher potential return, with the freedom to withdraw and deposit as desired, in just two clicks. These returns are based on the usage of the platform's features and increase with more users, distributed automatically on-chain, allowing users to collect earnings daily.

Elys Network believes this represents the evolution of decentralized finance: simple, effective, and universally accessible products that foster financial sovereignty for all.

9. What role does community-driven development play in ensuring a self-sustaining ecosystem for Elys Network?

Community-driven development plays a crucial role in ensuring a self-sustaining ecosystem for Elys Network.

We have already incorporated a significant amount of feedback from our users into recent updates. Every day, we gather feedback, evaluate it, and integrate valuable suggestions into our features. Listening to the community is key to delivering a product that meets user needs. This quality-driven approach is often overlooked in the web3 ecosystem, where user-friendly interfaces can sometimes be lacking. By prioritizing community input, we ensure that our platform is not only functional but also accessible and intuitive for everyone.

Regarding the potential groundbreaking changes Elys Network could bring to the decentralized finance ecosystem, one of our primary goals is ensuring accessibility for everyone, everywhere, to our DEX. We aim to defragment Web3, making it effortless and fast to trade tokens from various ecosystems, including Solana, Bitcoin, and any EVM chains. Elys Network is your gateway to a truly seamless and integrated DeFi world.

Our mission is to provide a unified platform that simplifies and streamlines the DeFi experience, regardless of the underlying blockchain technology. By bridging different ecosystems and offering a user-friendly interface, we aim to revolutionize the way users interact with decentralized finance.

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

Consensys, a leading Ethereum software company, is pressing forward with its lawsuit against the U.S. Securities and Exchange Commission (SEC), seeking greater regulatory clarity for the cryptocurrency sector, even after the SEC concluded its 14-month investigation into the Ethereum developer. 

SEC Investigation Closure

The SEC announced the closure of its investigation on June 18, which had scrutinized the buying and selling of Ether during Ethereum's transition to a proof-of-stake consensus mechanism. The investigation, which began on March 28, 2023, also included a Wells notice sent to Consensys in April, indicating potential enforcement action against the company's crypto wallet service, MetaMask. This sparked debates over whether Ether should be classified as a security.

Consensys's Response

Consensys CEO Joseph Lubin welcomed the end of the investigation as a positive development but criticized the SEC's approach. 

He stated, 

“We are hopeful that the antagonism to crypto among some US regulators is starting to wane and that the national investor protection strategy will evolve from the current guerrilla tactics. Until then, we soldier forth with our litigation against the SEC in Texas because we are intent on achieving more legal clarity for all.”

Lubin's comments highlight the company's dissatisfaction with what it views as regulatory "ambush tactics" and a lack of clear legal guidance for the industry. Despite the SEC's decision to end the probe, Consensys believes the broader regulatory issues remain unresolved.

The Lawsuit Continues

Consensys initiated its lawsuit shortly after receiving the Wells notice in April 2023, arguing that the SEC lacks the authority to regulate Ether. The company referenced a 2018 declaration of ETH as a commodity and pointed to the recent approval of spot Ethereum ETFs as further evidence that ETH should not be considered a security. In a June 2024 blog post, Consensys stated the investigation was unwarranted and highlighted these points to bolster its case.

The SEC's closure letter clarified that its decision does not exempt Consensys from future investigations, leaving a cloud of uncertainty over other cryptocurrencies with similar mechanisms. This uncertainty underscores the ongoing need for clear regulatory frameworks.

Seeking Regulatory Clarity

Consensys' lawsuit asserts that it operates by developing software products for global use on the Ethereum network. The company argues that it should be able to conduct its business without the threat of unpredictable enforcement actions.  

Consensys' continued litigation aims to achieve a clear regulatory framework for cryptocurrencies, ensuring businesses can operate with certainty and without unnecessary legal obstacles. This lawsuit against the SEC is a critical step towards securing a more transparent and fair regulatory environment for the burgeoning crypto sector.

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

MicroStrategy has further solidified its position as the largest corporate holder of Bitcoin by acquiring 11,931 BTC for $786 million, bringing its total holdings to 226,331 BTC valued at nearly $15 billion.

Acquisition Details

MicroStrategy, the largest corporate holder of Bitcoin (BTC), has acquired an additional 11,931 BTC for $786 million. The purchase was confirmed through a press release on Thursday morning and detailed in a United States Securities and Exchange Commission (SEC) Form 8-K filing. This acquisition brings the company’s total Bitcoin holdings to 226,331 BTC, worth approximately $14.4 billion at the current Bitcoin price of around $64,000.

Funding the Purchase

MicroStrategy completed a private offering of convertible senior notes to finance this acquisition on June 18, 2024. The offering initially aimed to raise $500 million but was upsized due to strong demand, eventually closing at $800 million in aggregate principal amount. The convertible notes feature a 2.25% coupon rate and a conversion premium of approximately 35% over MicroStrategy’s Class A common stock's volume-weighted average price.

Strategic Implications

Led by Executive Chairman Michael Saylor, MicroStrategy has been a prominent advocate for Bitcoin since 2020. The company's aggressive Bitcoin accumulation strategy is evident in this latest purchase, which follows a $623 million acquisition of 9,245 BTC in March through a similar debt issuance. This continued investment in Bitcoin underscores MicroStrategy’s commitment to the cryptocurrency as a key asset in its financial strategy.

Blockchain researcher Collin Brown highlighted the scale of this latest purchase in a tweet, 

“MicroStrategy’s massive BTC boost! They’ve snapped up 11,931 more bitcoins for $786M, averaging $65,883 each. As of 6/20/24, they hodl 226,331 BTC, totaling $8.33B with an average buy-in of $36,798 per BTC.”

Market Impact

MicroStrategy’s shares have significantly benefited from the firm’s Bitcoin acquisitions, rising roughly tenfold since the company began purchasing Bitcoin four years ago. Last week, brokerage firm Bernstein initiated coverage of MicroStrategy, setting a price target of $2,890 per share with an outperform rating. As of the latest reports, MSTR shares are up 2% premarket, trading at $1,507.

Industry Influence

MicroStrategy’s substantial Bitcoin holdings and ongoing purchases may influence other corporations and investors to consider Bitcoin as a viable reserve asset. This strategic move reinforces the narrative of Bitcoin's potential as a mainstream financial asset, further legitimizing its role in corporate treasury management.

With a total holding of 226,331 BTC, MicroStrategy remains at the forefront of corporate Bitcoin adoption, potentially setting a precedent for other firms.

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

Polkadot (DOT) and Avalanche (AVAX) were created to provide better interoperability. Both blockchains have an architecture that allows them to focus on application-specific blockchains that can be connected with a primary chain.

Polkadot’s primary chain is the Relay Chain, while Avalanche has three primary chains: the P-chain, the X-chain, and the C-chain. These are similar to Polkadot’s parachains that connect to its Relay Chain. Both protocols use a Proof-of-Stake consensus mechanism to secure their network and achieve consensus.

Polkadot (DOT) vs Avalanche (AVAX): A Brief Introduction

Polkadot is a blockchain protocol designed to connect previously incompatible blockchains and facilitate the transfer of data and value across these networks. It also allows previously siloed blockchain networks to communicate with one another securely. Polkadot is also quick and highly scalable, thanks to its use of parachains, which take a significant chunk of processing demand off the main chain. The protocol was created by Ethereum co-founder Gavin Wood, along with Peter Czaban and Robert Habermeier, who wanted to create a more expansive and efficient blockchain.

On the other hand, Avalanche was created to provide greater interoperability and simplify developer onboarding. The protocol leverages a multi-chain infrastructure to provide a trustless framework for developers. As an open-source smart contract platform, Avalanche supports the latest DeFi functionalities. It allows developers to create their own virtual machines and launch their own public and private blockchains called subnets.

Polkadot (DOT) vs Avalanche (AVAX): Architecture

Polkadot uses a linear chain structure similar to that of Bitcoin and Ethereum. The Relay Chain acts as the primary chain on Polkadot and hosts all the validators in the ecosystem. The smaller chains, called Parachains, host collators responsible for constructing and proposing blocks to validators. Once a block is submitted, it is checked by validators before being committed to the Relay Chain. Polkadot has a limited number of parachain slots. Any project that wants a parachains lot must participate in a parachain auction.

Polkadot uses a variation of the Proof-of-Stake consensus mechanism called Nominated Proof-of-Stake. Its DOT token can be used for governance and staking and plays a crucial role in the Polkadot ecosystem.

Avalanche uses three separate chains, each assuming a specific role. This allows for a separation of concern over validators and consensus, transactions, and smart contracts. These chains are the P-chain, X-chain, and C-chain. The P-Chain maintains the validator set and is responsible for securing the network. Similar to Polkadot’s Nominated Proof-of-Stake, Avalanche uses a Delegated Proof-of-Stake mechanism.

The X-Chain is responsible for Avalanche’s transaction layer and uses a UTXO model similar to Bitcoin. Polkadot uses an account model similar to Ethereum. The X-Chain is the only chain to implement the DAG model, making it the fastest chain in the Avalanche Network.

The C-Chain sees the most activity on Avalanche. It allows different virtual machines to execute smart contract code and comes with EVM and AVM (Avalanche VM) support out of the box.

Polkadot (DOT) vs Avalanche (AVAX): Consensus

Polkadot uses a synchronous hybrid model that combines BABE (Blind Assignment for Blockchain Extension) and GRANDPA (GHOST-based Recursive Ancestor Deriving Prefix Agreement). BABE is an algorithm that allows blocks to be built in a probabilistic way, while GRANDPA is a finality mechanism. It uses a deterministic approach to add blocks to the longest chain.

Avalanche uses a family of protocols called Snow Protocols to achieve security, liveness, and finality. The Snow family is a hierarchical collection of systems and consists of Slush, Snowflake, Snowball, Avalanche, Snowman, and Slushie.

Polkadot (DOT) vs Avalanche (AVAX): What Problems Do They Address?

Polkadot was created to provide better interoperability and scalability. Its unique infrastructure enables interoperability between different blockchain ecosystems, enabling secure communication and the transfer of data or value. It also comes with significantly lower fees, making it cheaper to conduct transactions, create blockchain assets, and mint new tokens.

On the other hand, Avalanche aims to alleviate developer issues by addressing centralization and congestion. The protocol gives users a scalable, energy-efficient, and cheaper alternative to existing networks.

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

Bitcoin languishes at the important $64,000 support. With the dollar still making hay as rates stay high, how will Bitcoin attract the liquidity to be able to break out of its current range bound prison?

US dollar trending higher

The US dollar has been trending higher since July 2023. A 5% interest rate, arrived at in the fastest amount of time in US economic history, has recently been putting the dampers on Bitcoin and the crypto market. Of course, there are other current headwinds that are perhaps contributing even more, but a strong dollar has its own particular drag on prices.

The Federal Reserve has signalled that it will maintain this high interest rate as long as it takes to get inflation under control, and in this sort of environment Bitcoin is not going to exactly fly.

Global liquidity cycle on the up

Source: Financial Times (CrossBorder Capital)

That said, it’s not all about the Federal Reserve, as shown by the global liquidity cycle (chart). Other central banks, worried about the state of their economies, are starting to reduce their rates, and whether it’s one or two rate cuts this year, the US probably doesn’t have much choice but to make a start.

Effect of a strong dollar on Bitcoin

The question should also be asked: “How much does a strong dollar affect Bitcoin? As discussed above, a higher dollar suggests asset prices should be weaker, but if one looks at the history of the DXY, it can be seen that it has been in an uptrend since 2008, which is just before the advent of Bitcoin; but where the DXY has increased only 48% in that time against a basket of other fiat currencies, $BTC has increased 100s of thousands of percent against the dollar.

Bitcoin Vs debasement and inflation

Bitcoin is just about the hardest monetary asset in the world, with a supply of only 21 million, while the US dollar is a paper currency with no backing, and is currently being printed to the tune of around $1 trillion every 100 days.

This debasement of the currency, together with inflation, are reducing the wealth of US citizens by around 12% per year. With banks offering just over 5% for savings accounts, there is literally zero chance of citizens keeping their heads above water, and millions of people will be added to the poverty heap over the next several years.

The only chance the poor and middle classes have is to do the same as the rich, and invest in hard assets like gold, silver, Bitcoin, and disruptive technology stocks. As more currency is printed in order to manage the debt, assets have to rise in value. 

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

Tyler and Cameron Winklevoss, the co-founders of Gemini, have donated $1 million in Bitcoin each to support former President Donald Trump’s reelection campaign. 

The Gemini co-founders stated that they sided with Donald Trump and donated to his campaign because of the Biden administration’s hawkish stance on crypto. 

Winklevoss Twins Make Big Donation 

Both Tyler and Cameron Winklevoss announced the news of the donation on their respective X handles. The Gemini founders donated 30.94 BTC, worth $2 million, to put an end to the Biden administration’s war on crypto. Tyler and Cameron have both been extremely discontent with Biden’s stance on crypto and crypto regulation. Taking to X, Tyler Winklevoss wrote, 

“Over the past few years, the Biden Administration has openly declared war against crypto. It has weaponized multiple government agencies to bully, harass, and sue the good actors in our industry in an effort to destroy it.”

He further stated that Trump is pro-bitcoin, pro-crypto, and pro-business, adding that if anyone said otherwise, they were being delusional, misinformed, or lying. 

“President Donald J. Trump is the pro-Bitcoin, pro-crypto, and pro-business choice. This is not even remotely open for debate. Anyone who tells you otherwise is severely misinformed, delusional, or not telling the truth.”

Weaponizing The Banking System Against Crypto

The Winklevoss twins accused the Biden administration of weaponizing the federal government and the banking system against the crypto ecosystem and continuing policies first established with Operation Choke Point under the Obama administration. Biden was the vice president in the Obama administration. 

“This Administration’s actions have been nothing short of an unprecedented abuse of power wielded entirely for twisted political gain at the complete expense of innovation, the American taxpayer, and the American economy. At this point, there is nothing the Biden Administration can do or say to pretend otherwise.”

The Winklevoss twins were also extremely critical of the Securities and Exchange Commission (SEC) for failing to establish a clear regulatory framework for the crypto industry and instead relying on outdated laws that hindered the utility and growth of crypto assets. 

It is not yet clear where the donated funds were sent because the limits set on donations to candidates are far below the amount that Tyler and Cameron Winklevoss donated. The funds were most likely donated to political action committees (PACs)that support Trump and his campaign. PACs are exempt from campaign donation limits. However, they are required to operate independently from the candidate campaigns. 

Pivoting To Crypto

In July 2019, Trump had said he wasn’t a fan of Bitcoin and other cryptocurrencies. However, this view changed in May 2024 after Trump began accepting donations in Bitcoin and other cryptocurrencies after a dinner at his Mar-a-Lago resort with holders of his Trump NFTs. 

“I am not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air. Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity.”

Following Trump’s acceptance of Bitcoin donations, Standard Chartered said Trump would benefit Bitcoin and the larger crypto ecosystem. Since then, Trump has made several statements in support of cryptocurrencies in the US and promised to support Bitcoin mining in the US.

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

The cryptocurrency market, known for its volatility and dynamic nature, requires robust analytical techniques to guide trading and trading decisions. Traders need to employ various strategies to navigate this market effectively. Unicapital offers advanced tools that integrate three critical types of market analysis: Fundamental Analysis, Technical Analysis, and Sentiment Analysis. Understanding these methods can significantly enhance one's trading effectiveness, helping both novices and seasoned traders achieve their trading goals.

1. Fundamental Analysis (FA)

Fundamental Analysis involves evaluating the intrinsic value of a digital asset. This analysis goes beyond the price trends to consider the underlying factors that affect a cryptocurrency's value. For crypto assets, this could include the technology behind a currency, its use cases, market demand, regulatory updates, and even the team behind the blockchain project. For example, a blockchain project releasing a groundbreaking new technology might see an increase in its token value. Fundamental Analysis helps traders make long-term trading decisions by understanding the macro and microeconomic factors driving the market.

2. Technical Analysis (TA)

Technical Analysis in the crypto market involves studying past market data, primarily price and volume. Traders use charts and various technical indicators like the Relative Strength Index (RSI), Moving Average Convergence Divergence (MACD), and candlestick patterns to predict future price movements. This type of analysis is crucial for identifying trends, determining potential resistance and support levels, and finding optimal points for entering or exiting trades. Unicapital's platform facilitates these analyses by providing users with customizable charts and a suite of analytical tools that can enhance decision-making for short-term trading strategies.

3. Sentiment Analysis

Sentiment Analysis gauges the overall mood of the market participants towards a particular cryptocurrency. This type of analysis considers the emotions and attitudes of traders, derived from various sources such as social media, market commentary, and the volume of trades. It's particularly useful in the crypto market, where trader sentiment can drastically influence price movements. By understanding whether the sentiment is bullish or bearish, traders can anticipate potential price changes that aren't obvious through technical data alone. Unicapital integrates sentiment tools that analyze and aggregate market sentiment, helping traders to make more informed decisions during volatile conditions.

Unicapital's Integration of Analytical Techniques

Unicapital offers a robust platform that seamlessly integrates these analytical techniques with innovative trading tools. This integration enables traders to navigate the crypto market more effectively:

AI Trading: Utilize advanced AI technology to optimize trading strategies, analyze vast amounts of data, and minimize human error.

Market Access: Gain comprehensive access to a wide range of cryptocurrencies and trading pairs, leveraging powerful analytical tools.

Education: Benefit from an extensive collection of educational materials, webinars, and tutorials designed to enhance trading knowledge at all levels.

Client Support: Receive personalized support and expert advice, enabling traders to refine their strategies and improve their market understanding.

The cryptocurrency market presents a complex and challenging landscape. By leveraging the analytical capabilities provided by Unicapital, traders can navigate this space more effectively, making informed decisions that align with their trading goals and risk tolerance. Whether you are a beginner or an experienced trader, understanding and applying these three types of market analysis can significantly increase your ability to capitalize on the opportunities that the crypto market offers.

About Unicapital

Unicapital is a multi-faceted platform that empowers users with the knowledge and tools to explore global digital asset markets and capitalize on opportunities with superior speed and efficiency. 

Through its unique offering of AI-driven solutions and in-depth learning resources, Unicapital provides users the means to tailor their trading journey according to their personal goals. To know more about Unicapital and its product suite, visit their website at https://Unicapital.tech. 

You can also follow their socials to keep abreast with their latest news and updates: www.youtube.com/@Unicapitaltech 

t.me/Unicapitaltech

www.instagram.com/Unicapitaltech

twitter.com/Unicapitaltech

facebook.com/Unicapitaltech/

linkedin.com/company/Unicapitaltech/

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

The Sealana presale now has just 5 days remaining and is scheduled to end on June 25th at 6 PM UTC.

Investors looking to buy this high-potential meme coin early have no time to lose to qualify for the Sealana airdrop. 

Experts are anticipating significant hype and FOMO in the days leading up to the $SEAL IEO. As such, the new Solana meme coin has been in high demand from the very start of its presale, having already raised over $5 million. 

Sealana has also caught the attention of smart money traders and influencers, with many labelling it as the next 100x meme coin. 

How To Qualify For The Sealana Airdrop?

Sealana has adopted an innovative presale model, which has previously been utilized by Slerf and Slothana to great success. 

Investors looking to qualify for the Sealana airdrop simply need to send $SOL tokens to the project wallet, with the wallet address being 3LeVizuW3YoCnjfMfuQ22rSFQLDLdo9jXLKjyqfBU3w5. They will receive the tokens as an airdrop once the presale ends. 

On the other hand, they could use the over-the-counter widget on the Sealana website and swap $SOL tokens after connecting their wallets. They could also choose ETH, USDT or USDC. 

As previously mentioned, investors now have just 5 days to buy the meme coin early at its discounted price of $0.22. Those missing out on the opportunity will have to purchase $SEAL in the open market, potentially at a much higher price. 

Buyers are also advised to follow the Sealana X and Telegram accounts for all the latest updates, including information about the upcoming exchange listings. 

Why Is Sealana In Such High Demand?

New Solana meme coins continue to dominate this bull cycle, thanks to the low trading fees and high scalability on the blockchain. 

In particular, new meme tokens that can make investors laugh are in significantly higher demand, especially amongst crypto whales. 

 

New investment thesis:If it makes me laugh, I'm buying.

— pixel (@spacepixel) October 25, 2023

One doesn’t need to go past the Sealana X account to witness how the meme coin’s comical mascot - a chubby and ultra-patriotic seal - has caught the fancy of investors. 

 

In just its latest post, the Sealana mascot has managed to sneak past the guards of Area 51, only to be captured by aliens.

 

Curiosity got the best of #Sealana 🤦🦭 Using his Navy $SEAL training, he sneaked into #Area51 and got captured by some Aliens!👽🛸 Seems like they’re also into Lambos🏎️, Massive Gains💰 just maybe not the Freedom bit! 🇺🇸Send $SOL to rescue Sealana before the #Presale ends! 🔜 pic.twitter.com/p5JdkjmmRv

— Sealana (@Sealana_Token) June 20, 2024

On another occasion, he got into a bar fight with Connor McGregor, owing to an ill-timed heckle towards the MMA champion for his retirement. 

 

 

Seems like @thenotoriousMMA didn’t like #Sealana asking why he was drinking whiskey at the #Roadhouse rather than fighting in the octagon…🥊 If only he knew before raising his fists that Sealana was a 300lbs ex army $SEAL…🪖🦭It's not going to be a fair fight but no one will… pic.twitter.com/L1TqztPiAX

— Sealana (@Sealana_Token) June 10, 2024

Sealana’s theatrics - while eccentric - do have a larger point. Crypto whales know better than to dismiss a meme coin with a popular mascot. After all, Dogwifhat became Solana’s top meme coin, simply because the dog wore a hat. 

 

In a more recent incident, the Billy meme coin surged by 100x, simply because the investors thought its mascot was “too cute” to be at a low valuation. 

 

$BILLY is now 1000x from my call in @IgnitedDAO 🔥 pic.twitter.com/WL84ir5N91

— LeW (@xxlewis123xx) June 17, 2024

While Sealana’s chubby figure - which is a result of a trader’s diet of chips and tuna - can’t exactly be described as cute, its theatrics have gained a significant fan following. 

 

It’s, therefore, no surprise that experts are already bullish on the meme coin. Even the popular crypto educational platform 99Bitcoins covered $SEAL in a recent video, informing its 700k subscribers of their last chance to participate in the Sealana airdrop. 

They also hinted at the possibility of Sealana being the next 100x meme coin, a sentiment that is also shared by analysts such as Jacob Bury and Crypto Boy. 

Visit Sealana Presale

 

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

Altcoins, which are cryptocurrencies other than Bitcoin, are some of the more popular types of crypto in 2024. As we head into the summer, crypto experts and newbies alike are scrambling to find the top altcoin for the upcoming bull season.

Among the myriad options, certain altcoins stand out for their innovative technologies, strong communities, and promising futures. BlockDAG, with its cutting-edge technology and impressive presale performance, is leading the pack. Here’s a look at the five best altcoins to watch in June 2024, with BlockDAG at the forefront.

1. BlockDAG (BDAG): Leading the Innovation Wave

BlockDAG is making significant strides in the cryptocurrency world with its advanced low-code/no-code platform for creating utility tokens, meme tokens, and NFTs. Its user-friendly interface and customizable templates have democratized blockchain technology, allowing users of all technical levels to create and deploy their own projects quickly. BlockDAG’s presale has already amassed an impressive $52.2 million, reflecting strong investor confidence.

BlockDAG’s commitment to expanding its ecosystem extends beyond simplifying token and NFT creation. The platform actively supports the growth of decentralized applications by providing a robust and scalable infrastructure. This encourages the development of a wide variety of applications, from digital art marketplaces to tokenized asset platforms, thereby enriching the blockchain landscape with innovation and diversity.

BlockDAG’s platform accelerates development timelines, reducing the time to market for new projects. This is crucial in the fast-paced world of blockchain, where speed and efficiency are paramount. The platform’s commitment to supporting decentralized applications (dApps) with a robust and scalable infrastructure further enriches the blockchain landscape with innovation and diversity. With a mainnet launch projected to yield significant returns, BlockDAG is set to be a game-changer in the crypto space.

To bolster long-term project stability and align with its strategic goals, BlockDAG employs a four-month vesting period. This approach regulates the distribution of coins, preventing market saturation and fostering gradual engagement among stakeholders. The vesting period is a strategic move to temper potential price volatility by gradually injecting $100 million into market liquidity. This ensures a balanced and predictable trading atmosphere, securing a sound investment environment dedicated to sustained growth and scalability.

2. BNB (BNB): The Powerhouse of Binance Ecosystem

BNB, the native token of Binance, continues to be a major player in the cryptocurrency market. Used to pay transaction fees on the Binance Exchange, BNB has a wide range of applications, including Binance Chain and Binance Smart Chain. Its utility and strong backing by the world's largest cryptocurrency exchange ensure its ongoing relevance and growth.

BNB's role within the Binance ecosystem, including staking, transaction fee discounts, and participation in token sales on Binance Launchpad, makes it a versatile and valuable asset. Its consistent updates and strong community support keep it at the forefront of the crypto market.

3. Toncoin (TON): The Future of Decentralized Communications

Toncoin (TON) is the native token of the TON blockchain, initially developed by Telegram. It aims to revolutionize the way people communicate by providing a fast and secure blockchain with low transaction fees. Toncoin supports various decentralized applications, services, and digital identity solutions.

The TON blockchain’s focus on decentralized communication and digital identity solutions makes it a unique player in the crypto space. Its integration with Telegram's vast user base provides a significant potential for widespread adoption and use.

4. Avalanche (AVAX): Speed and Scalability

Avalanche (AVAX) is known for its high-speed transactions and scalable blockchain platform. It aims to solve some of the biggest challenges in the crypto world, such as scalability, interoperability, and usability. Avalanche’s consensus protocol and architecture allow for high throughput and low latency, making it an attractive option for developers and users alike.

Avalanche’s ability to handle thousands of transactions per second and its support for multiple blockchain networks make it a powerful platform for decentralized applications. Its robust ecosystem and continuous development ensure its position as a leading blockchain technology.

5. Polkadot (DOT): Connecting Multiple Blockchains

Polkadot (DOT) is designed to enable different blockchains to interoperate seamlessly. Its multi-chain framework allows for the transfer of any type of data or asset across different blockchains, fostering a new era of interconnected decentralized networks. Polkadot’s unique architecture and strong development team make it a promising project.

Polkadot’s ability to connect various blockchains and facilitate cross-chain transfers makes it a key player in the future of decentralized technology. Its scalable network and a strong focus on security and interoperability position it well for long-term success.

BlockDAG Leads the Pack

In the dynamic world of altcoins, BlockDAG stands out for its innovative technology, strong presale performance, and commitment to democratizing blockchain access. While BNB, Toncoin, Avalanche, and Polkadot each offer unique advantages and growth potential, BlockDAG’s comprehensive approach to scalable blockchain solutions positions it as a leader. 

For investors looking to capitalize on the next big thing in crypto, these five altcoins represent some of the best opportunities in June 2024. BlockDAG, with its strong foundation and ambitious goals, is particularly noteworthy and deserving of close attention from both seasoned and new investors.

Join BlockDAG Presale Now:

Website: https://blockdag.network

Presale: https://purchase.blockdag.network

Telegram: https://t.me/blockDAGnetworkOfficial

Discord: https://discord.gg/Q7BxghMVyu

 

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

2024 remains a year in which the cryptocurrency industry and the global financial world are about to witness a monumental transformation across the blockchain space. The growing interest worldwide and many institutions paying attention to the cryptocurrency market promise to be revolutionary and could reshape how we perceive and interact with the financial world. 

Key contributors to the wide growth currently experienced across the financial market have been attributed to significant advancements in blockchain technology, Artificial intelligence (AI), the rise of digital currencies such as stablecoins and central bank digital currencies (CBC), regulatory transformation, and approval of spot Bitcoin and Ethereum exchange-traded funds (ETFs), as well as economic changes over the years.

The COVID-19 period saw a massive shift from paper currency to digital currency, with interest growing every year due to its demand for efficiency, security, and accessibility due to its ease of financial transactions.

These, coupled with the fact that many centralized financial systems are faced with drawbacks that come with paper-based transactions, such as high transaction costs, delayed transactions, and susceptibility to fraud, has heightened the need for the use of digital assets and robust technologies. 

As a result of digitalization, we are on the brink of evolution. Money has transitioned due to the consumer habits of a digital world, wanting to use digital assets. It could be way bigger than anticipated as bigger institutions develop much interest in digital currency. 

This shift from paper cash to digital assets across the digital world is not just an immediate trend but a total shift. It could have lasting implications on the use of money and how transactions are conducted. 

Let us discuss some key factors that could make 2024 a historic year for the blockchain mainstream and wider adoption. 

Regulatory Policy And Its Effect On the Cryptocurrency Space

A spree of bankruptcy in cryptocurrency was the signal needed for financial bodies such as the United States (U.S.) Security and Exchange Commission (SEC) and the European Union (EU) to impose regulations on cryptocurrency assets and exchanges.

The EU voted for its approval of MiCA (the Markets in Crypto-Assets) regulation for European Union countries, a regulatory framework that focuses on maintaining stability, protecting investors and promoting the growth of cryptocurrency assets in these countries.

MiCA's regulatory framework for cryptocurrency assets has a deadline of June 30. Different phases of MiCA are expected to be implemented, with a key phase primarily focused on cryptocurrency asset service providers and entities operating in the cryptocurrency space to comply with set regulations on KYC/AML. 

Some of this compliance could affect service providers' issuance of stablecoins and operations within the European Union. While many exchanges have started aligning their operations to follow the MiCA regulations, other exchanges outside the EU have started adjusting their services to remain in compliance with them.

With MiCA regulation on stablecoin, we could see more adoption for Euro stablecoin in the coming months and years compared to the traditional stable coin of USDT, which has garnered much adoption over the years. 

While Euro stablecoins continue to lag behind the USDT due to low cryptocurrency trading activities, the euro-backed stablecoins have witnessed much volume over the past few months, suggesting much adoption of digital assets in European countries. 

The USD-backed stablecoin USDT continues to average over 70% of trading volume, and data from Kaiko suggest that MiCA regulation in EU countries could be a major boost for Euro-backed stablecoins.

Spot Bitcoin ETFs and Institutional Adoption

The cryptocurrency market has seen considerable growth, capturing the attention of financial institutions looking to enter the space. One of such big achievements is the spot Bitcoin ETF approval. 

This approval marked a turning point in the cryptocurrency market, the integration of digital assets in the broader financial market, and institutions' adoption of other cryptocurrencies. 

The approval of spot Bitcoin ETF allows investors to gain exposure to Bitcoin without directly owning the digital assets. The SEC's approval opens the door for Bitcoin mass adoption on the mainstream and regulatory recognition of Bitcoin as a viable investment asset. 

Although Bitcoin's price is above $65,000, many traders and investors are looking to capitalize on trending altcoins with use cases such as AI tokens and real-world applications. Many users are adopting strategies that would enable high returns on investments. Such strategies include using social trading options such as copy trading to automate trades. 

Margex Copy Trading As A Social Trading Strategy

Trading is increasingly becoming popular due to its affordability, ease of execution, and attractive profitability. Several methods and strategies are employed in this digital age, with many processes and strategies focused on automation. 

One such strategy is copy trading, a form of social trading that involves copying the trades of experienced traders. Modern social trading, such as copy trading, allows users to easily and quickly mirror the trades and strategies of other traders with better profitability returns.

Users make decisions based on strategies, profit returns, and risk-to-reward ratios to make informed decisions about the experienced trader they wish to follow. If a trader meets their clear criteria, then a user can follow an experienced trader. 

Margex copy trading has become a go-to strategy for many users as it offers a user-friendly platform and access to all information regarding the trade history of an experienced trader before copying the trades or following the trader. 

Margex remains a top copy trading platform that provides a conducive environment for beginner traders to start their copy trading journey. It provides all the facilities for a better trading experience. 

With its zero-fee converter, users can easily and conveniently swap different tokens on its platform and diversify their portfolios for better profitability. With Kaspa, USDT, and USDC, users can deposit and withdraw with different options with low transaction fees and high-speed priority. 

Accessing Margex copy trading is easy with as low as $10;

1 Decide On A Trader 

Creating an account on the Margex copy trading platform allows users to select a trader and strategies they wish to copy trade. All data on a trader's trading history are available to the user, allowing them to make an informed decision.

2 Click Follow

Click follow to automate their copy trading experience. Uerse can follow multiple traders and diversify their portfolio. 

3 Allocate the amount for trading

Allocate the amount for your copy trading strategy.

4 Confirm copy trading 

Review and confirm to initiate your trading journey. 

 

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

VanEck's Bitcoin ETF, the first spot Bitcoin ETF on the Australian Securities Exchange, launched with significant investor interest, marking a historic milestone for cryptocurrency exposure in Australia.

First BTC ETF On ASX

The VanEck Bitcoin Exchange-Traded Fund (ETF) marked a significant milestone with its debut on the Australian Securities Exchange (ASX) on June 20. The VanEck Bitcoin ETF commenced trading with initial assets of approximately A$990,000 (USD 660,429). This introduction follows the ASX's approval of the listing on Monday, making it the first spot Bitcoin ETF available on Australia's primary exchange. 

This launch satisfies increasing investor demand for cryptocurrency exposure following a resurgence in market interest. The ETF, trading under the ticker VBTC, saw its volume surpass $1.5 million within hours of its opening.

Market Entry

Unlike conventional ETFs that hold tangible assets, the VanEck Bitcoin ETF invests in the U.S.-listed VanEck Bitcoin Trust, which launched earlier this year. This structure allows Australian investors indirect access to Bitcoin without directly owning the cryptocurrency. VanEck's CEO, Jan VanEck, has expressed optimism about Bitcoin's potential, predicting it could eventually reach half the market capitalization of gold.

Strategic Position and Market Impact

The ASX is a dominant force in Australia's capital markets, managing about 80% of equity trading. VBTC's debut on this platform places it among established Australian companies like BHP and Commonwealth Bank. Although other bitcoin ETFs are available on a rival exchange managed by CBOE Global Markets' local affiliate, VanEck's ETF is the first to launch on the main ASX market.

Jamie Hannah, VanEck’s Deputy Head of Investments and Capital Markets, emphasized the ETF’s benefits, stating, 

“[VBTC] will present the price of Bitcoin. What we’ll give investors is really institutional-grade access to Bitcoin. There are a lot of security measures in place as well as insurance. And it’s also extraordinarily low cost.” 

He added that investors could access VBTC through any retail broker.

Competitive Landscape 

In addition to VanEck, other ETF issuers, such as Sydney-based BetaShares Holdings Pty and DigitalX Ltd., are planning to list their ETFs on the ASX. Meanwhile, CBOE Australia, another major exchange, already offers several crypto ETFs, including Global X 21Shares Bitcoin, Global X 21Shares Ethereum, and Monochrome Bitcoin, which together manage around $90 million in assets.

Future Prospects

The global interest in bitcoin ETFs has surged since US regulators approved similar products in January, leading to significant capital inflows. Following the US trend, Hong Kong also launched its ETF in April, though with less market enthusiasm. Coin values have nearly tripled since 2023, stabilizing after peaking in March. 

This optimistic market performance has increased interest in regulated investment vehicles for digital assets. Therefore, the introduction of VBTC provides a new, secure, and cost-effective avenue for investment.

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

Solana has been one of the most explosive of the large cap cryptos this bull market, and now the price has been becalmed for the last 14 weeks. Are we in for more consolidation, or is the price about to rip upwards again?

Solana huge 1,100% price appreciation

Solana is the ETH killer. It is fast, cheap, and ready to become the king of the layer 1 networks. Of course, Ethereum may have something to say about that, and much also depends on whether Solana’s screamingly fast Fire Dancer validator client launches successfully later this year.

That said, purely from a perspective of price, $SOL is showing the way. A 1,100% price appreciation from September 2023 to mid-March 2024 shows that Solana needs to be taken very, very seriously. 

Since that madcap rise, the $SOL price needed to take a real breather, and just like the rest of the cryptocurrency market, a long period of consolidation has been necessary in order to reset the price and build some structure on which to launch the next potential surge towards all-time highs.

Lower highs vs higher lows

Source: TradingView

Looking at the relatively short daily time frame, it can be seen that the $SOL price is being held up by strong support at $126 to $138. Whilst that top of $210 achieved in mid-March has been succeeded by successive lower highs, a series of higher lows goes all the way back to September 2023.

An amazing $SOL weekly chart

Source: TradingView

On the weekly chart $SOL looks amazing. That support at $138 is incredibly strong, resting as it does on price structure from 2021/2022, and also as the recent price wicks down through bear testament to.

Volume is gradually decreasing, and this points to an explosive move in the making. If this is to the downside, $112 down to $100 is the next major band of support. If the more likely upside explosion is next, then predicted targets of $175, $200, $250, and the all-time high at $260 could be next.

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

Having suffered a downward trend since early June, the Bitcoin price looks to be breaking out of its channel. Could this be the start of a new trend, or is this going to be yet another fakeout?

An end to the bull market?

The bitcoin price has been dogged with some quite difficult headwinds for the last few weeks. Among these have been long term holders taking profits, miners selling in order to remain profitable after the halving, and Wall Street hedge funds damping down the price with their “carry trade” strategy.

There have even been those on social media who have called for an end of the bull market, saying that the top was in at $73,800 and that $BTC has been rolling over ever since.

Is this likely? Very probably not. Bitcoin has had well delineated bull markets of around 3 years throughout its admittedly short history, and of course, things can always change, but with the institutions finally arriving, would this be the first bull market to be cut short?

$BTC channel breakout

Source: TradingView

In the short term time frame of the daily, the $BTC price can be seen to be attempting a breakout of the channel. This pattern is certainly bullish, but the top trend line of the channel, plus the resistance at $66,000 are managing to contain the price, at least for now.

Momentum indicator is key

Source: TradingView

Zooming out in the weekly time frame it can be noted that what was resistance in the daily time frame is actually support. Still stronger support at $64,000 was instrumental in holding up the price on Tuesday, as the wick down to this level shows.

One major concern is the stochastic RSI for the weekly time frame. This momentum indicator has crossed back down and it looks like we may see a double dip here. Even if this were to happen, it wouldn’t be too long before this indicator hit the bottom and then started crossing up, bringing that important momentum back in again.

However, if $BTC does break out, and there is some decent price appreciation into the end of the week, the fast (blue) and slow (red) indicator lines could cross back over and signal positive price momentum as early as next week. In addition, hidden bullish divergence could be about to play out.

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

Polkadot is a protocol working on scalability and other challenges by creating a network of interoperable blockchains. The protocol aims to break down the barriers between blockchain ecosystems and facilitate data transfers and communications.

A Brief History Of Polkadot

Polkadot was founded by Peter Czaban, Robert Habermeier, and Gavin Wood, who also coined the term “Web3” in 2014. Wood was behind the Polkadot white paper, published in 2016, and the Web3 Foundation launched in 2017. The protocol allows independent blockchains to communicate with one another, with the ultimate goal of enabling a completely decentralized web that gives users complete control.

Polkadot aims to connect private and consortium chains, public and permissionless networks, oracles, and even future technologies that have yet to be created. It aims to create an ecosystem that allows independent blockchains to exchange information and conduct transactions in a trustless manner through the Relay Chain. Polkadot’s unique architecture makes creating and connecting decentralized applications (dApps), services, and institutions easy.

Polkadot was rolled out in multiple phases. In 2017, the Web3 Foundation raised $145 million in Ethereum by selling DOT, Polkadot’s native token. However, the wallet in which the ETH tokens were stored was hacked, freezing $90 million of the total funds. The Web3 Foundation held a private token sale in 2019 to recoup the losses.

Who Are The Brains Behind Polkadot?

The Web3 Foundation is the main entity behind Polkadot and has made it the foundation’s flagship project. The Web3 Foundation is a Swiss blockchain-based organization dedicated to creating a user-friendly, fully functional decentralized web. The foundation has partnered with some of the best projects and protocols to create Polkadot and help develop services and applications that run on the Polkadot network.

Polkadot was founded by some of the most prominent individuals in the crypto and blockchain ecosystem: Gavin Wood, Peter Czaban, and Robert Habermeier.

Gavin Wood

Gavin Wood was initially associated with Ethereum, one of the biggest and most prominent blockchain protocols in the ecosystem, where he was the co-founder and CTO. After Ethereum, he founded Polkadot with Peter Czaban and Robert Habermeier and published its white paper in 2016. Wood is also credited with inventing several key components of the blockchain industry, such as Proof-of-Authority consensus, Whisper, and Solidity. He also came up with the term “Web3” in 2014 and is the current president of the Web3 Foundation. He also leads innovation on Polkadot and Substrate.

Peter Czaban

Peter Czaban is the Web3 Foundation’s Technology Director. His primary role is to support the development of the next generation of distributed technologies. Czaban has also worked in several industries, including defense, finance, and data analytics, where he has worked on distributed knowledge bases, meshed networks, machine learning, business development, and quantitative pricing models.

He has a Masters of Engineering Degree from the University of Oxford, where he focused on Bayesian Machine Learning.

Robert Habermeier

Robert Habermeier is a Thiel Fellow with a research and development background in blockchains, cryptography, and distributed systems. He has been a longtime member of the Rust community, focusing on leveraging the programming language’s features to create highly parallel and performant blockchain solutions. 

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

The crypto world is fast-paced and highly competitive. For any project to succeed, liquidity and trading volume are essential. High liquidity ensures market stability, fair pricing, and quick transaction times, which are vital for any cryptocurrency asset. 

Orbitt, a comprehensive platform for the Solana ecosystem, offers solutions like Orbitt MM, an advanced AI-driven volume booster designed for Solana projects. This article will explore Orbitt MM's functionalities, its importance in the crypto ecosystem, and the advantages for Solana projects.

The Growing Importance of Liquidity and Trading Volume

Liquidity in the cryptocurrency market refers to the ease with which an asset can be bought or sold without significantly affecting its price. High liquidity, characterized by a large number of participants and active trading, leads to smoother transactions and reduced price volatility. Conversely, low liquidity can result in price manipulation and trading challenges. 

For blockchain projects, especially those on Solana, maintaining high trading volume is essential as it signals active market participation and ensures stable prices, attracting more investors and promoting a healthier trading environment.

What is Orbitt MM?

Orbitt MM is an advanced market-making tool that leverages AI technology to boost liquidity and trading volume for projects within the Solana ecosystem. This volume market maker integrates effortlessly with Solana projects, providing real-time data analysis and market insights. By automating market-making activities, Orbitt MM makes sure that trading volumes are consistently high, thereby improving market stability and visibility for these projects.

AI-Driven Efficiency in Orbitt MM's Market Making

AI technology is integral to Orbitt MM's operations, transforming the market-making process in the cryptocurrency space. The system uses machine learning algorithms to process large volumes of market data, identify trading patterns, and predict market movements with high accuracy. This enables Orbitt MM to execute trades efficiently and implement strategies that are impractical with manual market making, resulting in optimal market conditions. The AI-driven approach improves the accuracy of market predictions and reduces the time and effort required for manual market making, creating a more efficient system that benefits both traders and projects​

Importance of Volume Boosting in Crypto

Trading volume is a critical metric for the success of any cryptocurrency project. High trading volume indicates strong market interest and activity, which helps stabilize prices and attract more investors. For Solana projects, achieving high trading volume is particularly challenging due to the competitive nature of the ecosystem. Low-volume projects often struggle with visibility and liquidity, making it difficult to gain traction.

Orbitt MM responds to these challenges by providing an automated solution to boost transaction volumes and enhance market presence. As a"Solana volume booster, it ensures that projects gain the necessary traction to succeed in a crowded market. By increasing liquidity and facilitating smoother transactions, Orbitt MM helps stabilize prices and contributes to a more robust trading ecosystem​​​​.

Features of Orbitt MM

Orbitt MM offers several key features that differentiate it from other market-making solutions:

Automated Market-Making: Utilizing AI algorithms, Orbitt MM automates market-making activities, ensuring consistent and efficient trading volume.

Liquidity Provision: The system continuously provides buy and sell orders, improving liquidity and making it easier for traders to enter and exit positions.

Real-Time Data Analysis: Orbitt MM's AI engine analyzes market data in real-time, providing valuable insights and enabling quick decision-making.

Customization Options: Users can customize their volume-boosting strategies with Orbitt's white-label solution, tailoring the bot to meet specific project needs.

User-Friendly Interface: The platform is designed to be intuitive, allowing users to set up and manage their market-making strategies with ease.

Benefits for Solana Projects

Solana projects stand to benefit greatly from Orbitt MM's advanced capabilities. Here are some specific benefits:

Enhanced Visibility: Increased transaction volume helps Solana projects gain more exposure on exchanges, attracting potential investors.

Market Stability: By providing consistent liquidity, Orbitt MM helps stabilize prices, making the market less susceptible to manipulation and volatility.

Efficiency and Speed: The automated nature of Orbitt MM ensures swift transaction execution, maintaining a dynamic and active trading environment.

Advisory Support: Orbitt MM also offers strategic advice and support to new projects, guiding them through the complexities of market integration and volume boosting.

Conclusion

Orbitt MM offers a practical solution for Solana projects looking to improve liquidity and trading volume. Its AI-driven approach ensures consistent market-making activities, which helps projects achieve better visibility and market stability. By integrating Orbitt MM, Solana projects can benefit from more stable prices and increased investor confidence.

As the cryptocurrency landscape continues to develop, tools like Orbitt MM play an important role in supporting the growth and stability of blockchain projects. This volume market maker help improve market conditions, making them essential for project success in the competitive crypto ecosystem.

 

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

Polkadot is a protocol working on scalability and other challenges by creating a network of interoperable blockchains. The protocol aims to break down the barriers between blockchain ecosystems and facilitate data transfers and communications.

A Brief History Of Polkadot

Polkadot was founded by Peter Czaban, Robert Habermeier, and Gavin Wood, who also coined the term “Web3” in 2014. Wood was behind the Polkadot white paper, published in 2016, and the Web3 Foundation launched in 2017. The protocol allows independent blockchains to communicate with one another, with the ultimate goal of enabling a completely decentralized web that gives users complete control.

Polkadot aims to connect private and consortium chains, public and permissionless networks, oracles, and even future technologies that have yet to be created. It aims to create an ecosystem that allows independent blockchains to exchange information and conduct transactions in a trustless manner through the Relay Chain. Polkadot’s unique architecture makes creating and connecting decentralized applications (dApps), services, and institutions easy.

Polkadot was rolled out in multiple phases. In 2017, the Web3 Foundation raised $145 million in Ethereum by selling DOT, Polkadot’s native token. However, the wallet in which the ETH tokens were stored was hacked, freezing $90 million of the total funds. The Web3 Foundation held a private token sale in 2019 to recoup the losses.

Who Are The Brains Behind Polkadot?

The Web3 Foundation is the main entity behind Polkadot and has made it the foundation’s flagship project. The Web3 Foundation is a Swiss blockchain-based organization dedicated to creating a user-friendly, fully functional decentralized web. The foundation has partnered with some of the best projects and protocols to create Polkadot and help develop services and applications that run on the Polkadot network.

Polkadot was founded by some of the most prominent individuals in the crypto and blockchain ecosystem: Gavin Wood, Peter Czaban, and Robert Habermeier.

Gavin Wood

Gavin Wood was initially associated with Ethereum, one of the biggest and most prominent blockchain protocols in the ecosystem, where he was the co-founder and CTO. After Ethereum, he founded Polkadot with Peter Czaban and Robert Habermeier and published its white paper in 2016. Wood is also credited with inventing several key components of the blockchain industry, such as Proof-of-Authority consensus, Whisper, and Solidity. He also came up with the term “Web3” in 2014 and is the current president of the Web3 Foundation. He also leads innovation on Polkadot and Substrate.

Peter Czaban

Peter Czaban is the Web3 Foundation’s Technology Director. His primary role is to support the development of the next generation of distributed technologies. Czaban has also worked in several industries, including defense, finance, and data analytics, where he has worked on distributed knowledge bases, meshed networks, machine learning, business development, and quantitative pricing models.

He has a Masters of Engineering Degree from the University of Oxford, where he focused on Bayesian Machine Learning.

Robert Habermeier

Robert Habermeier is a Thiel Fellow with a research and development background in blockchains, cryptography, and distributed systems. He has been a longtime member of the Rust community, focusing on leveraging the programming language’s features to create highly parallel and performant blockchain solutions. 

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

WienerAI - an innovative AI-powered meme coin - has now raised over $6 million in its ongoing presale, a testament to its early demand and strong fundamentals. 

AI coins and meme tokens are two sectors with the highest upside potential during this bull market. With WienerAI belonging to both sectors, it is no wonder that the token is going viral during its ICO itself. 

$WAI has caught the attention of smart money traders and crypto influencers as well, with some calling it the next 100x crypto. 

WienerAI Set To Launch Its Own Trading Bot - Here’s How Token Holders Can Benefit

WienerAI is not your regular pump-and-dump meme coin. The developer team behind the project is prioritizing community-building over all else, aiming to incentivize investors to hold their $WAI tokens for a substantial period.

WienerAI’s cutting-edge trading bot will play a crucial role in executing this strategy. The project describes the bot as a “canine companion”, the ideal partner for a trader in the oncoming bull market. 

Its X account recently dropped sneak peeks of the WienerAI trading bot, which saw significant hype amongst token holders. For instance, the post describes the WienerAI Chatbot as “the ChatGPT of crypto”.

More than just a bot--WienerAI is your ultimate crypto trading companion.We're delighted to share some sneak peeks with our incredible and supportive community. (1/4) pic.twitter.com/kR8ypeJycj

— WienerAI (@WienerDogAI) June 11, 2024

The bot is designed to answer all crypto-related queries and suggest alpha trading setups. Most importantly, it enables seamless swaps from within the app, ensuring that traders do not need to leave the platform to place the trade. 

The trading bot’s UI is also similar to popular LLMs such as ChatGPT and Google’s Gemini, ensuring that users can feel at ease in a familiar setup. 

The WienerAI chatbot gives token holders an incentive to continue to hold, reducing the risk of pump-and-dump price action after the meme coin’s launch. In fact, this AI-powered tool is one of the key factors behind WAI’s strong demand. 

Is WAI a Safe Investment?

New meme coins are often associated with security risks, and for good reason. Scammers take advantage of the bull market euphoria and target small-scale investors. However, the WienerAI developer team has attempted to alleviate all such concerns before the token’s launch on exchanges. 

For instance, the WienerAI smart contract has been audited by Solid Proof, which did not reveal any vulnerability or centralization risks. For instance, the owner of the contract cannot tamper with it after its launch. Neither can they mint new tokens or blacklist addresses. 

As previously mentioned, the WienerAI trading bot is designed to reduce the likelihood of pump-and-dump price action. To add an additional layer of protection, the project has launched its own staking protocol. 

Investors can earn attractive passive returns - currently at over 180% APY - in exchange for price stability and network safety. 

WienerAI has also adopted community-centric tokenomics, with no separate allocation for the developer team. A substantial 70% of the token supply has been reserved for the investors - 30% during the presale, 20% as staking rewards and an additional 20% as community rewards. 

The remaining 30% has been allocated for token liquidity and the project’s marketing strategy. 

Owing to its strong fundamentals and the cutting-edge Trading Bot, experts are quite bullish on the meme coin. Even the popular crypto educational platform 99Bitcoins - which has over 700k subscribers on YouTube - believes that 100x gains could be up for grabs for the early buyers. 

Interested buyers looking to get on the WienerAI bandwagon early can head to its presale website and use the over-the-counter widget to purchase the meme coins. 

Visit WienerAI Presale

 

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

Jeremy Allaire, the CEO of USDC issuer Circle, has predicted that stablecoins are on course to account for 10% of the global economy in the next ten years. 

Allaire shared his views in a social media post, discussing his perspective on the cryptocurrency market and the growing integration of stablecoins in the global financial ecosystem. 

The Impact Of The Internet On Crypto

According to Allaire, stablecoins are on the cusp of a significant wave of adoption, given their growing acceptance and integration into global financial markets, adding that he was more bullish than he had ever been about crypto. The Circle CEO emphasized the rapid advancements in blockchain technology and the growing use of stablecoins in several services and financial transactions, highlighting their potential to significantly impact the global economy in the next ten years. 

“I’m more bullish than I have ever been about crypto. I have been building @Circle for over 11 years, and at no time have I been more optimistic than right now. I also believe that the overwhelming majority of people have an extremely narrow and limited understanding of what’s unfolding. And that’s super bullish, too.”

According to Allaire, the internet has seen an influx of open networks, protocols, and software that have helped transform industries and people’s lives. He added that crypto was on the verge of powerfully transforming society and the economy. Earlier, there was no way to fully ensure trusted data and transactions, meaning the internet’s potential was limited. However, crypto offered a solution to this problem through a decentralized and trustworthy framework. 

“Internet infrastructure had enabled frictionless, nearly free movement of data and seamless ability to connect and deploy software and hardware on a global network, and it was clearly struggling with its own success and weight. The internet lacked a layer for trust, and without that, it was capped in terms of the utility it could provide to the world.”

Stablecoin Market To See Unprecedented Growth

While discussing the future of stablecoins, Allaire stated that their current market capitalization sits at $162 billion, only 0.2% of the $80 trillion money market, and predicted they would make up 10% of the market by 2034. The stablecoin market would need a compounded annual growth rate (CAGR) of nearly 48% to reach this target. Stablecoins have seen widespread growth and have emerged as a key component of the crypto markets. Circle’s USDC and Tether’s USDT dominate the markets and are the largest stablecoins in the crypto space. 

“How far have we come?…Digital assets have become an accepted part of the emerging global financial system, with virtually every major government in the world setting clear rules for how digital assets can be issued, used, and traded.”

Allaire predicted that by the end of 2025, stablecoins will be legal electric money almost everywhere, setting them up to become a significantly larger portion of the market. 

“By the end of 2025, stablecoins will be “legal electronic money” almost everywhere, which sets them up to become a larger and larger portion of the $100T+ market for electronic money.”

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

Blockchain security firm CertiK has identified itself as the security researcher Kraken is claiming stole nearly $3 million worth of digital assets. 

Kraken suffered a bug attack less than two weeks ago, losing nearly $3 million. At the time, the cryptocurrency exchange stated it was treating the incident as a criminal case and would coordinate with law enforcement agencies. 

The Kraken Attack 

On June 9, cryptocurrency exchange Kraken revealed it had suffered an exploit that saw the platform lose $3 million worth of assets. According to a report shared by Kraken’s Chief Security Officer, Nicholas Percoco, the platform received a bug bounty program alert from a security researcher claiming to have found an extremely critical bug that allowed them to inflate their balance on Kraken artificially. 

“On June 9, 2024, we received a bug bounty program alert from a security researcher. No specifics were initially disclosed, but their email claimed to find an “extremely critical” bug that allowed them to artificially inflate their balance on our platform.”

Percoco stated that upon further investigation, they discovered an isolated bug that gave the bad actor significant privileges, allowing them to initiate a deposit on Kraken and receive funds in their account even without completing their deposit. The vulnerability, originating after a recent UX change on Kraken, allowed the attacker to “print assets” in their Kraken account. Kraken stated that the flaw was patched, and no client funds were compromised. Kraken claimed that a further investigation revealed that the security researcher had shared the bug with two colleagues, who had used it to gain significant funds fraudulently. 

CertiK Identifies Itself As Security Researcher

Now, blockchain security firm CertiK has identified itself as the security researcher Kraken claims stole $3 million worth of digital assets. In a post on X, CertiK stated it had informed Kraken about an exploit that allowed it to remove millions from the exchange’s accounts. 

“CertiK recently identified a series of critical vulnerabilities in @krakenfx exchange, which could potentially lead to hundreds of millions of dollars in losses. Upon discovery, we informed Kraken, whose security team classified it as Critical: the most serious classification level at Kraken.”

The blockchain security firm claimed Kraken’s security operations team threatened CertiK employees. 

“After initial successful conversions on identifying and fixing the vulnerability, Kraken’s security operation team has THREATENED individual CertiK employees to repay a MISMATCHED amount of crypto in an UNREASONABLE time even WITHOUT providing repayment addresses. In the spirit of transparency and our commitment to the Web3 community, we are going public to protect all users’ security. We urge [Kraken] to cease any threats against white hat hackers.”

CertiK also posted a timeline of events, beginning with identifying the exploit on June 5 and ending with Kraken threatening CertiK employees on June 18. The security firm added that it would also transfer the funds to an account that Kraken would be able to access. 

Crypto Community Supporting Kraken 

Reactions from many in the crypto community seemed to favor Kraken, claiming that CertiK’s actions did not align with how white hat hackers would have conducted themselves. However, it is unclear if Kraken plans to pursue legal action or has grounds to do so. 

“Certik just admitted to being the security firm that stole from Kraken and is trying to extort them for more of a payment. Given how often Certik audits get hacked and now this, it’s wild that they still exist. Downright criminal.”

CertiK has previously identified significant vulnerabilities in the Wormhole Bridge and the Telegram app. The firm had reported that around $1 billion in digital assets were lost to illegal activities in 2023.

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

Cryptocurrency exchange Bitget continues to go from strength to strength with May going down as a record month for capital inflows. As the crypto bull market grinds on, Bitget has established itself as a leading global exchange for spot and futures trading, bolstered by complementary products including its eponymous web3 wallet.

May has demonstrated Bitget’s strength in the derivatives market in particular, where it’s become top dog for users seeking leveraged trading of assets such as BTC, ETH, and SOL. According to the latest CCData report, open interest on centralized exchanges has surged in May with Bitget leading the charge.

Open Interest Ramps Up

May was a mixed month for the crypto industry, seeing combined spot and derivatives volume on centralized exchanges declining by 20.1% to $5.27 trillion according to CCData. Open interest on derivatives exchanges rose by 30.5%, however, reaching $55.2 billion. Bitget was the primary beneficiary of this trend, seeing an impressive 39.2% increase in open interest which reached $9.74 billion for May.

Open interest on derivatives exchanges refers to the total number of outstanding derivative contracts that have not been settled or closed. It is a key indicator used in analysis of the derivatives market, providing insights into market sentiment and potential price movements. Each contract has both a buyer and a seller, but for open interest, each pair counts as one open contract.

Capital Inflows Intensify

Further evidence of Bitget’s record-breaking month can be seen from capital inflows, as detailed by DefiLlama in its CEX Transparency dashboard. Bitget recorded the highest monthly inflow of all centralized exchanges in May, receiving $975.4 million in deposits. Average leverage used by derivatives traders on Bitget is also significantly higher than other CEXs at 4.61x. By comparison, the figures for Binance and OKX stand at 0.19x and 0.32x respectively.

There are a number of factors that have contributed to Bitget’s impressive growth over the past 12 months. Improvements in UX and to its mobile app have been accompanied by an aggressive token listing policy. The exchange routinely lists popular new tokens, including native assets for L2s and memecoins, quicker than the competition. It’s also been swift to support emerging ecosystems such as Bitcoin Ordinals.

In May alone, Bitget listed 62 tokens including top performers such as TURBO, LIFEFORM, and WOJAK, all of which posted triple-figure percentage gains following their introduction. Another 19 tokens were listed on PoolX, the exchange’s launchpad which allows users to earn an allocation in return for staking USDT. 427M USDT was staked in May through PoolX in return for new tokens such as UDS and APRS.

Amidst a busy month for Bitget, the exchange also appointed Gracy Chen as its CEO, who succeeded Sandra Lou, and released a Signal Bot for Telegram to provide trading insights. While the first half of June has been marked by a slight pullback in digital asset prices, the market has picked up again, prompting hopes that the bull market still has some way to run.

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