Coinspeaker Notcoin (NOT) Price Surges 40% in 24 Hours, Hits ATH at Above $0.012, Analysts Warn of Overbought Conditions

The crypto market continues to grapple with be­arish sentiment, with Bitcoin struggling to maintain support above $68,000. Howe­ver, amidst the sea of re­d, Notcoin (NOT) has emerged as a be­acon of hope, defying the broade­r market trend with a staggering 40% surge­ in the past 24 hours.

Photo: CoinMarketCap

Notcoin is currently trading at $0.01224, with a market capitalization of $1.26 billion, ranking as the­ 72nd largest cryptocurrency. Notcoin impressive­ly gained 132% in the last wee­k. The surge in NOT price come­s with a 9.40% increase in daily trading volume, se­ttling at $1.18 billion.

Analysts Warn of Overbought Conditions

The recent price surge is good news for Notcoin holders, but analysts advise caution. TradingView data shows the coin’s Relative Strength Index (RSI) at a concerning 68, indicating it’s significantly overbought. This raises worries about potential price manipulation by whales – large investors who can heavily influence the market.

Photo: TradingView

For a sustained and healthy price increase, NOT’s RSI needs to cool down and settle below the 50 mark. An RSI below 50 would suggest more balanced market conditions and would reduce the possibility of a sudden and drastic price correction.

The recent rally follows a rocky launch for NOT. On May 16, the project distributed 80 billion tokens via airdrop, leading to its debut. While getting listed on major exchanges like Binance, Bybit, and MEXC seemed promising, these accessible platforms allowed airdrop recipients to sell off quickly, causing the price to drop 55% shortly after launch.

For over a week following this event, bearish sentiments dominated the market, exerting downward pressure on the price. Consequently, Notcoin price declined to a low of $0.004583 on May 24. However, this seemingly rock-bottom price level eventually served as a springboard for a remarkable recovery.

Community Vote Fuels NOT’s Rise

On May 28, Notcoin expe­rienced a significant surge of 58%, almost re­testing the $0.01 mark. This upswing coincided with a community poll whe­re proponents overwhe­lmingly chose NOT over Bitcoin. This vote of confide­nce from its user base se­ems to be a significant factor in the re­cent price increase­.

Whether NOT can sustain its upward trajectory re­mains to be seen. The­ overbought RSI and the rece­nt volatility surrounding the launch raise concerns about short-te­rm stability. However, the community backing and the­ defiance against the broade­r market downturn are positive signs.

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Notcoin (NOT) Price Surges 40% in 24 Hours, Hits ATH at Above $0.012, Analysts Warn of Overbought Conditions

Coinspeaker Super Trump (STRUMP) Surges 250% in 7 Days amid ‘PoliFi’ Meme Coin Frenzy

Meme coins based on the former President of the United States and the 2024 Republican candidate Donald Trump have performed incredibly well in the past few weeks after the billionaire announced support for cryptocurrencies. Moreover, as the favorability rating of Trump continues to rise, such meme coins remain in demand. Some of the popular cryptocurrencies based on the billionaire include Trump (TRUMP), MAGA (TRUMP), and Super Trump (STRUMP). These meme coins have given significant returns to investors in the past few weeks.

According to recent data, the price of STRUMP is down 9.24% in the past 24 hours, while the trading volume of the meme coin is down 32.49% and currently stands at $14.25 million. Super Trump (STRUMP) is ranked 305 in terms of trading volume, and the market cap of the token is $26.5 million.

It is important to note that in the past seven days, the cryptocurrency went up 252.53%, from $0.004173 to $0.0149 at the time of writing. Further, STRUMP reached a high of $0.02342 on May 29 and secured the attention of the entire digital asset space. CoinMarketCap data also shows that STRUMP is up 4399.04% from its all-time low witnessed on March 1 at $0.0003417.

Other Trump-themed meme coins also went down in the past 24 hours, with MAGA (TRUMP) dipping 7.58% and being priced currently at $13.13. The trading volume of the digital asset stands at $15 million, down 45.74%, while the market capitalization of the meme cryptocurrency is $578 million. Interestingly, MAGA (TRUMP) went up 46.90% in the past seven days.

On the other hand, the TRUMP (TRUMP) token is up 615.35% in one month, while a 26.03% price crash has been witnessed in the past 24 hours. The price of the meme coin at the time of writing stands at $0.00005469, while the market cap stands at a meager $2.63 million.

Finally, the FreeTrump (TRUMP) meme coin witnessed a whopping 8% surge in prices, reaching a market capitalization of $363 million, and is currently priced at $0.003633. While the trading volume of the digital asset stands at just $43,606.75, FreeTrump is up 135.63% in one month.

The FreeTrump cryptocurrency was created following the indictment of Donald Trump and a pending arrest. Trump’s case was the first time a United States president was indicted, and the case made waves offshore. Despite this, as per the data from PolyMarket, 56% of the voters are in favor of the billionaire, while only 37% of the people are in favor of the current US president Joe Biden.

Moreover, Trump also supported cryptocurrencies via Truth Social, stating that he is “very positive and open-minded to cryptocurrency companies and all things related to this new and burgeoning industry”.

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Super Trump (STRUMP) Surges 250% in 7 Days amid ‘PoliFi’ Meme Coin Frenzy

Coinspeaker Bitcoin’s New All-Time High to Come after US CPI Drops Under 3.3%

Bitcoin price has entered a period of strong consolidation following the Bitcoin halving event last month in April. Over the past several weeks, BTC price has been fluctuating in the range of $60,000-$70,000. Unless Bitcoin gives a convincing breakout above the $70,000 level, it’s likely to consolidate for some more time.

However, the macros can play a key role here providing stimulus for Bitcoin to surpass its all-time high levels of March 2024. In a recent report published this Wednesday, May 29, 10x Research head Markus Thielen stated that if the inflation print comes to be less than 3.3% for the month of May, then Bitcoin price can rally to new all-time highs. On June 12, the United States Bureau of Labor Statistics (BLS) will be releasing the Consumer Price Index (CPI) data for this month.

Thielen noted a slight decline of 0.1 percentage points from the previous CPI reading, which stood at 3.4% as of May 15. He anticipates robust inflows into spot Bitcoin exchange-traded funds (ETFs) to persist in the two weeks leading up to the release of the May CPI results.

However, if the CPI numbers come to be greater than expected, it can weaken the BTC price momentum, as seen earlier this year. One of the positive indicators has been the strong inflows into the spot Bitcoin ETFs over the past two weeks of May.

Inflation Is the Main Driver for Bitcoin Price

Thielen also stated that Bitcoin price doesn’t usually make random moves, but rather is based on critical drivers such as inflation. Throughout this year in 2024, there have been multiple instances where BTC price has moved in tandem with inflation and dropped following the higher-than-expected CPI data.

On April 10, the CPI was reported at 3.5%, just 0.1% higher than anticipated. By April 30, Bitcoin’s price had fallen by 6.67% to $56,000. Thielen observed that when spot Bitcoin ETFs launched on January 11, despite an impressive $611 million in inflows on the first day, the overall inflows for the rest of January were underwhelming. He attributed this primarily to the CPI results being higher than expected.

“The CPI came in at 3.4%, higher than the 3.2% expected number and higher than the 3.1% recorded in the previous month. It is no coincidence that Bitcoin was weak in January and stronger into March but consolidated for two months,” Thielen wrote.

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Bitcoin’s New All-Time High to Come after US CPI Drops Under 3.3%

Coinspeaker Vitalik Buterin Contributes 30 ETH Valued Over $111K to Tornado Cash Legal Fund

An Ethereum (ETH) address associated with Vitalik Buterin has sent 30 Ether, worth around $111,810, to the legal defense fund for the Tornado Cash developers, Alexey Pertsev and Roman Storm. Buterin donated the money through the Juicebox platform, a decentralized fundraising protocol on the Ethereum network. Consequently, the Tornado Cash legal defense fund, which was created earlier this year, now has a total of 592.45 ETH, worth about $2.2 million.

Why the Crypto Industry Must Support Tornado Cash Developers

The troubles of Tornado Cash developers began after the United States Treasury’s Office of Foreign Asset Control (OFAC) imposed sanctions on the crypto mixer in August 2022. A year after the US issued sanctions on Tornado Cash crypto mixer, Storm, a US-based web3 developer, was arrested.

Earlier this year, Pertsev was sentenced to 64 months in prison by a Dutch court, which sparked anger among the crypto developers. Furthermore, Pertsev just developed software through open source, which is compared to road construction workers and careless accidents that regularly happen on the road. According to Juicebox, Roman and Alexey’s legal fees range between $90k and $100k per month, thus requiring the support of the crypto industry.

As Coinspeaker previously reported, Pertsev has appealed the Judge’s ruling in anticipation of a fair hearing and trial. However, the case is politically sensitive since billions of dollars have been laundered through crypto mixers, especially those stolen by the North Korea-backed Lazarus Group.

“The arrests of Roman Storm and Alex Pertsev are considered a direct attack on the open-source development space and may have devastating consequences for developers who write and publish code. This is why we need to act NOW to protect our right to code,” the Justice DAO noted.

The use of Tornado Cash for ensuring privacy has been advocated for by top Web3 executives. Furthermore, online anonymity is not a crime as businesses and individuals are keen to protect their financial data at all costs.

For instance, Buterin once used Tornado Cash to donate to Ukraine’s government amid the ongoing war with Russia.

Bigger Picture

The notable growth of the cryptocurrency industry has elevated the voice of ordinary people around the world against the government’s oppression. Already, the cryptocurrency narrative has taken center stage in the upcoming United States elections and the trend is expected to continue in other jurisdictions over the coming years.

Moreover, the adoption of Bitcoin and other digital assets has diluted global governments, which are highly centralized. Consequently, it is safe to assume more countries will eventually follow the El Salvador path to adopt Bitcoin as a legal tender to tame high inflation.

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Vitalik Buterin Contributes 30 ETH Valued Over $111K to Tornado Cash Legal Fund

Coinspeaker Orbs Unveils Perpetual Hub to Revolutionize On-chain Futures Market

Layer-3 (L3) blockchain infrastructure Orbs has recently unveiled Perpetual Hub as it looks to revolutionize the on-chain futures market through an intent-based approach. According to a release shared with Coinspeaker, Orbs Perpetual Hub is designed to offer a range of resources that will empower traders to maximize the benefits on-chain perpetual trading has to offer.

Benefits of Orbs Perpetual Hub Launch

This new hub is set to operate seamlessly with collaboration from SYMMIO and IntentX. The Perpetual Hub is considered a significant step forward in the evolution of Decentralized Finance (DeFi). The advanced blockchain technology offered by Orbs enables the execution of on-chain futures within a dependable and sophisticated framework.

In the meantime, Perpetual Hub services consist of three components: Hedger, Liquidator, and Price Oracle. Hedger acts as a market maker using a front end powered by SYMM and offers liquidity by fulfilling users’ orders. Additionally, Hedger can tap into external liquidity sources, such as centralized exchanges, to provide exceptional liquidity.

The Liquidator as the second component, allows users to close out a trader’s position if the value of the collateral falls below the maintenance margin threshold. The Price Oracle supplies dependable on and off-chain data to guarantee precise pricing which is crucial for continuous trading. It is important to note that a completely decentralized Price Oracle is necessary for the fundamental operations of the Perpetual Hub to function seamlessly.

Also, Perpetual Hub can enhance perpetual future trading, from pricing to order execution. This helps in increasing trust in the on-chain perps market while growing the Total Value Locked (TVL) in on-chain derivatives.

Orbs Unveils Its Latest Upgrade V4

In February, Orbs announced that Orbs V4, an upgrade to its protocol, is currently under development. According to the project, the upgrade is necessary to meet the growing demand for its project and the layer 3 technology at large. Meanwhile, the firm claimed in its announcement that V4’s designed will help focus on efficiency and robustness. This will help to cater for the upsurge that Orbs expects for the usage of its products this year.

For Orbs, the upgrade is entirely not about scaling up. It is also about staying at the forefront of the L3 infrastructure space. This sentiment was echoed by the protocol’s CEO Nadav Shemesh, who expressed his delight in “the evolution to Orbs V4”.

Recall that Orbs’s effort towards becoming an industry leader started a long time ago. The V4 upgrade is coming nearly two years after the introduction of Orbs 3.0, the project’s original L3 architecture. It is also worth mentioning that Orbs is still eyeing more upgrades. To this end, it has automated its rollout process for Guardian nodes which used to be done manually.

However, in March, software company IntentX took a bold step forward by integrating the Liquidity Hub developed by Orbs Network into its platform. With the partnership now expanding with the launch of Perpetual Hub, Orbs hopes to grow its TVL of $3.4 billion in the coming months.

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Orbs Unveils Perpetual Hub to Revolutionize On-chain Futures Market

Coinspeaker Whale Dumps 51 Million XRP amid Ripple’s SEC Clash: What’s Next for Crypto Giant?

Week in week out, the legal battle between Ripple Labs and the US Securities and Exchange Commission (SEC) takes an interesting turn. However, the latest of those have captured the attention of the XRP community and the broader crypto market. Ripple recently filed a reply letter to the SEC’s argument against its earlier request that the court should allow it to seal key documents.

Amid this back-and-forth, however, there has been a notable move by a major XRP holder. This move has not only stirred speculation about the ongoing case but also about the future price trajectory of the cryptocurrency.

On May 29, Ripple submitted a detailed reply to Judge Analisa Torres of the US District Court for the Southern District of New York. The firm contested two main points that the SEC raised in its arguments. Firstly, the regulator believes that Ripple’s current financial status is relevant to the court’s decision-making process. The SEC also claims that Ripple’s financial information is outdated.

In its defense, however, Ripple has put forward a counter-argument, claiming that its current financial condition is irrelevant to the court’s analysis. Although it did not expressly state its financial condition, Ripple noted that it has never denied its ability to pay any potential penalties. Furthermore, Ripple’s Chief Financial Officer, Jonathan Bilich, emphasized that contract terms must remain confidential so as not to give future counterparties undue advantage.

Massive XRP Dump Sparks Market Speculation

While the legal arguments were playing out, a renowned whale in the XRP community, identified as Rzn, transferred a whopping 51.18 million XRP to crypto exchanges Bitstamp and Bitso. The whale moved 28.05 million XRP worth nearly $14.67 million, to Bitstamp. He also moved another 23.13 million XRP, worth around $12.11 million, to Bitso.

Expectedly, the transfer has ignited discussions about possible impacts on XRP’s market dynamics and price volatility.

This is shown in the recent price fluctuations that XRP experienced. As of publication, XRP price was down 2.20% over the past 24 hours and was seen trading at $0.5173. Its 24-hour price range has been between $0.5137 and $0.5321.

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Whale Dumps 51 Million XRP amid Ripple’s SEC Clash: What’s Next for Crypto Giant?

Coinspeaker Over 75,000 Traders Hit by Massive Liquidations as Bitcoin Drops to $67,000

The cryptocurrency market has experienced significant volatility this week, with bulls struggling to maintain momentum amid increasing selling pressure.  As a result, Bitcoin (BTC) has dropped below its critical support level, which analysts have warned could impact the market’s overall performance.

On Thursday, Bitcoin price fell sharply to $67,000, leading to widespread liquidations across the market. Data from CoinGlass shows that approximately 76,000 traders were liquidated, resulting in a total loss of $159 million within the last 24 hours.

Most of these liquidations involved long positions, accounting for around $125 million, as the market took a sudden downturn, surprising investors who anticipated BTC would increase in price.

Short Traders Also Affected

Despite long traders taking most of the hit, short traders were also impacted. According to CoinGlass data, around $34 million of short positions were closed as BTC fell below $68,000 again.

Liquidations across centralized exchanges accounted for the entire $159 million loss. Binance, the world’s largest crypto exchange, suffered the most, contributing around 48% of the total liquidation.

The company, currently headed by Richard Teng, saw approximately $78 million vanish from the platform in the past 24 hours. Additionally, the largest single liquidation order, valued at around $2.69 million, occurred on Binance.

In addition to Binance, OKX contributed around 32% of the liquidation, with $51.68 million erased from the platform.

Other exchanges such as Bybit, Huobi Global (now rebranded to HTX), and CoinEx also significantly contributed to the $159 million liquidated from the crypto market. CoinGlass data showed that Bybit lost $13.78 million, while HTX and CoinEx lost over $14 million combined.

Broader Market Impact

Traders who entered Bitcoin positions on these exchanges lost around $22.9 million, while those who traded Ethereum recorded a loss of around $26.79 million, surpassing that of BTC.

Similarly, other cryptocurrencies witnessed a combined liquidation of $30.56 million.

With Bitcoin still depreciating in value, traders are continuing to be liquidated. In the past hour alone, a total of $16.5 million has been wiped out from the market. Long traders took the majority of the hit, losing around $14 million, while short positions only suffered about $2.24 million in liquidation in the past 60 minutes.

The entire crypto market has also experienced a decline over the last 24 hours. According to CoinMarketCap, the crypto market is currently valued at around $2.5 trillion, with  BTC alone holding the majority market share of $1.33 trillion.

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Over 75,000 Traders Hit by Massive Liquidations as Bitcoin Drops to $67,000

Coinspeaker CoinList Announces TAP Protocol’s Game-Changing Token Launch

CoinList has announced TAP Protocol’s 12th token launch in 2024. TAP protocol is a Layer 1 solution that provides a flexible and accessible solution for Bitcoin development.

TAP Protocol Token Launch: Key Details and Participation

The TAP Protocol token was launched on May 29. Its purchase has already started, and the process is expected to run till June 5. The price is set at $3.57, with a network value of $75,000,000. The token has a total supply of 21,000,000 TAP, with 7.5% of this amount, valued at 1,575,000 TAP, available for the launch.

In addition, only 10% of the purchased tokens will be available after the token generation event (TGE). The remaining 90% will then be released gradually over the next 12 months. Also, investors and traders can anticipate the listing on crypto exchanges around June 28.

The team behind the TAP Protocol set an initial purchase limit for the TAP tokens, with the minimum purchase being $100 and the maximum $2500. Setting a maximum amount helps prevent a single buyer from acquiring much of it during the initial purchase period. This helps to avoid market manipulation and ensures a fair distribution of the tokens among participants.

To participate in the TAP Protocol token launch, users must visit the launch site via Google Chrome and install the Xverse Extension on a desktop computer. The team behind the launch will only distribute tokens to the linked external Xverse wallet.

TAP Protocol: Overcoming Bitcoin Ordinals’ Limitations

The TAP protocol addresses the limitations that the Bitcoin Ordinals have not been able to meet up with. Despite the BTC ordinals enabling the support of functionalities similar to Ethereum, the capacity has also been limited in terms of flexibility for computation, which has constrained the scope of innovation and development on the BTC network.

This development is a game changer for the BTC network, making it easier and safer for developers to build on Bitcoin while overcoming traditional BTC transactions’ limitations.

Tap Protocol is used by over 50 projects with more than 70,000 individual wallets. The solution provides a secure environment for transactions and development on the BTC blockchain. It has developed the first native smart contract design on Bitcoin, Promises, which helps create innovative applications.

It also enhances the BTC network by offering features such as fractionalizing ordinal art, token swaps, liquidity pools, borrowing, lending, and staking capabilities.

The protocol has tackled some limitations of the BTC network, making it easier for developers and users to create innovative ideas and driving the adoption of BTC. Moreover, the protocol is simpler to use compared with BRC20, and the simplicity of usage complements its utility, as it can be used for many functions like airdrops, the creation of non-fungible tokens, and much more at a low cost. It also supports features such as OrdFi and DeFi, which have further propelled the adoption of Bitcoin among developers.

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CoinList Announces TAP Protocol’s Game-Changing Token Launch

Coinspeaker Political Drama Unfolds as Joe Biden’s Camp Changes Tone on Crypto

In what might be a surprising turn of events, President Joe Biden’s re-election campaign has begun reaching out to key players within the crypto industry. According to a report, Biden’s team is keen to learn from those who know the intricacies of the “crypto community and crypto policy”.

The recent move, however, comes as a shock. That is considering the manner in which Biden’s administration has always dealt with the crypto industry up until now. It’s needless to say that Biden has always had a cautious approach to crypto and all that it stands for.

Joe Biden Intensifies Crypto Engagement Efforts

According to anonymous sources with good knowledge of the matter, the engagement effort started some two weeks ago. Biden’s camp seems to have suddenly realized the potential impact that their stance on crypto may have on a presidential race that will most likely go to the wire. Hence, the re-election team has reportedly signaled several crypto enthusiasts, trying to onboard them to learn the way forward. Sources even claim that some of these crypto individuals are people who Biden may have rebuffed in the past.

Meanwhile, it might be worth noting that the campaign’s shift towards digital assets experts comes following a recent backlash on Biden’s administration. News filtered that Biden was planning to veto the overturn of SAB-121, a controversial rule that sought to prevent financial institutions from providing crypto asset custody services. However, crypto advocates immediately kicked, citing how the administration has been attempting to stifle innovation by any means necessary.

Moreover, former president and major competition Donald Trump has recently been a vocal advocate for crypto. On May 21, Trump’s campaign announced that it would accept cryptocurrency donations. He also made noticeable statements in support of crypto at the 2024 Libertarian National Convention.

Playing to the Camera?

Interestingly, Biden’s change of tone is not exactly different from Trump’s. Trump, for instance, has not always been pro-crypto. Up until 2021, the former president thought of cryptocurrency as “a very dangerous thing”. Therefore, while the Biden campaign’s sudden U-turn has been well-received by many in the crypto sector, many skeptics still remain.

They believe that many of these moves are only political and may not exactly represent the true beliefs of the candidates.

Either way, a source revealed that Biden’s outreach effort at this point may already be “too little, too late”.

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Political Drama Unfolds as Joe Biden’s Camp Changes Tone on Crypto

Coinspeaker Sei Network Integrates with OpenSea Marketplace to Enable Seamless NFT Adoption

Sei network, a fast-growing layer one (L1) blockchain with nearly $24 million in total value locked (TVL), has announced a successful integration with OpenSea, a top-tier marketplace for non-fungible tokens (NFTs). As a result, NFT holders on the Sei network can seamlessly trade on the OpenSea marketplace. Moreover, the Sei network offers NFT users low fees and fast transactions to encompass a broader crypto adoption rate.

“With Sei, OpenSea is leveraging rapid finality and throughput, creating the most seamless, Web2-like experience in crypto. Sei’s approach to scaling Ethereum brings Solana-like, parallelized performance to the EVM, ensuring a robust and efficient environment for NFT transactions,” the Sei team noted.

The integration of the Sei network to OpenSea marks a major milestone in the NFT space amid the ongoing mainstream adoption of digital assets and web3 projects. Furthermore, both entities have robust community backing and have grown throughout the 2022/2023 crypto bear market.

According to the latest crypto data, the Sei network is ranked 85 with a market cap, of around $1.5 billion, and an average daily traded volume of about $79 million. On the other hand, the OpenSea marketplace has a cumulative NFT trading volume of about $39 billion, with its peak registered in early 2022.

The NFT industry has registered a notable decline in trading volume in the past two years, amid claims of fraud and scams.

However, the ongoing global crypto regulation has helped the NFT industry revamp in the past few months. In April, OpenSea reported a total of 283,640 monthly active users.

Direct Impact on Sei Network

The Sei network is on the cusp of transitioning to the Sei V2, which introduces significant upgrades including dual address support. Earlier this week the Sei network announced that it has successfully moved from phase one to the second round of the Sei V2 launch process.

With the successful integration of the Sei network and OpenSea, the adoption of SEI coins will accelerate in the coming months. The altcoin has already established a solid support level of around 50 cents, amid the ongoing crypto recovery.

From a technical standpoint, SEI price against the US dollar has been forming a macro reversal pattern after being trapped in a correction mode since early this year. If Sei prices fail to rebound from the current consolidation, the altcoin could drop as much as 35 percent towards 31 cents, which coincides with the weekly 0.786 Fibonacci Retracement.

Ultimately, the Sei network is moving towards competing with top-tier layer one blockchains such as Solana (SOL) and Toncoin (TON) in enabling web3 and digital assets mass adoption. Some of the top DeFi projects on the Sei network include Astroport DEX, SiloStake, and Levana Perps, among others.

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Sei Network Integrates with OpenSea Marketplace to Enable Seamless NFT Adoption

Coinspeaker Galxe to Launch Native Layer-1 Blockchain Gravity in June

Web3 digital identity and rewards platform Galxe is set to launch its native blockchain Gravity in June.  This new development marks a significant step for the platform as it plans to migrate all its business offerings to Gravity to enhance its operational capabilities and user experience.

Once Gravity is launched, Galxe will transition its key services, including Galxe Passport, Score, Quest, Compass, and Alva to the new blockchain.

Galxe Passport, which currently has nearly 1 million users, will move from the BNB Smart Chain to Gravity. Similarly, the Galxe Score contract will migrate from Polygon (MATIC) to the new blockchain.

Testnet and Mainnet Launch Plans

In a recent announcement, Galxe revealed that the protocol will debut in phases, with the initial version, also known as testnet, scheduled for next month. The Mainnet is slated for launch towards the end of the second quarter of 2025.

The initial phase of Gravity is designed to simplify cross-chain interactions using zero-knowledge proofs for efficient verification. The blockchain will also support multi-chain asset management, addressing the complexities involved in cross-chain transaction settlements.

The Mainnet will feature full functionalities. Galxe plans to incorporate features such as staking and restaking services into the protocol to enhance its capabilities.

The blockchain will operate under the Proof-of-Stake (PoS) consensus mechanism, offering restaking options via EigenLayer and Babylon to leverage the Ethereum network’s security.

Like most blockchains, Gravity will also have a native token to power the activities of the network. Members of the platform’s decentralized autonomous organization (DAO) have already approved the contract migration of its existing token, GAL, to the upcoming token called G.

Addressing Scalability and Efficiency

Galxe said the blockchain will employ Reth for its execution layer and use Jolteon (AptosBFT) as its consensus algorithm, which will provide near-instant transaction finality and high throughput.

Furthermore, Gravity will be Ethereum Virtual Machine (EVM) compatible, enabling seamless integration with existing Ethereum-based applications. The  Web3 digital identity platform said the creation of Gravity comes in response to the rapid growth of Galxe’s user base over the past three years. The platform needed a more efficient and scalable solution to manage cross-chain interactions across the 34 blockchains it supports and accommodate its growing user base of 20 million users.

Galxe said it currently handles around 100 million monthly transactions. According to the Galxe team, Gravity will provide the necessary infrastructure to handle the increased demand and complexity, ensuring a smoother and more reliable user experience.

The team estimates that the network will be able to process up to 60 million transactions on a monthly basis when launched.

“Gravity is estimated to have over 60 million transactions per month – two times that of Ethereum – establishing it as one of the most active chains based on user activity,” said Galxe.

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Galxe to Launch Native Layer-1 Blockchain Gravity in June

Coinspeaker Ripple CTO to Unveil Vision for Institutional DeFi on XRPL at Consensus 2024

Ripple‘s Chief Technology Officer (CTO) David Schwartz has revealed on his X account that he will discuss the company’s vision and roadmap for institutional decentralized finance (DeFi) on the XRP ledger (XRPL) at the Consensus24 organized by CoinDesk.

Join me and @kwok_phil, where I'll be unveiling Ripple's vision and roadmap for institutional DeFi on the XRP Ledger #XRPL https://t.co/LLERYTlWsS

— David "JoelKatz" Schwartz (@JoelKatz) May 28, 2024

Institutional DeFi: The Next Frontier for Decentralized Finance

Institutional DeFi addresses the adoption and use of decentralized finance protocols and technologies by large institutions, such as banks and asset managers. JPMorgan, in one of their reports, referred to institutional DeFI as a system that merges the advantages of the DeFi protocol to meet regulatory compliance and customer safety measures.

The Ripple CTO will be joined on stage by Phil Kwokz, the co-founder of EasyA, as they will discuss the future of XRPL and the blockchain network. Also, the experts will shed light on multichain interoperability, EVM programmability, and the tokenization of real-world assets (RWA). The company stated:

“If you’re at Consensus2024 this week, join joelkatz and easyA_app’s kwok_phil for a session on the future of blockchain and the XRPL. They will be talking about multichain interoperability, EVM programmability, RWA tokenization, and more!”

This announcement has sparked anticipation among some XRP users. An X user, XRPcryptowolf, with over 325,000 followers, commented on the post that institutional DeFi would be a game changer for the XRP ledger. This potential lies in the system’s ability to attract large institutional investors to the XR ecosystem, expanding its use cases and adoption.

In addition, it could allow institutions to create digital representations of their traditional financial assets, such as stocks and commodities, on the XPRL. This institutional adoption of  DeFi on the blockchain could further establish it as a connection between traditional and decentralized finance, thereby enhancing Ripple’s payment infrastructure and growth.

Growing Adoption and Efficiency of the XRPL Ecosystem

A recent report regarding XRPL 2024’s first quarter performance revealed that the number of active users surged by 37%, and the number of transactions increased likewise by 113%, which is better than the previous year, indicating the growing interest and adoption of the XRPL.

In addition, the total number of accounts on the XRPL increased by 150,000, reaching 5.15 million. However, due to the spike in new addresses created in the previous quarter, the number of new addresses reduced by 12.4% compared to the previous quarter. Thus, the increase in account creation from users, developers, and organizations further contributes to the efficiency of the ecosystem.

As Schwartz presents at Consensus24, Ripple users can expect eye-opening news as he provides more insight into what is next for XRPL. His co-speaker at the event has hinted at the XRPL co-founder’s readiness, stating that he has been preparing for the program all week.

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Ripple CTO to Unveil Vision for Institutional DeFi on XRPL at Consensus 2024

Coinspeaker Ethena Labs Launches on Blast L2 Network to Integrate USDe and sUSDe with More Web3 Protocols

Ethena Labs (ENA), a synthetic dollar protocol that is developed on the Ethereum (ETH) network, has successfully launched on the Blast Layer 2 solution. According to the announcement, the successful launch of the Ethena protocol on the Blast network will enable the mass adoption of the USDe and sUSDe. Furthermore, several web3 projects – led by Thruster, Juice Finance, Hyperlock Finance, Orbit Protocol, Init Capital, and Renzo – are set to offer USDe and sUSDe services.

Immediate Benefits of Ethena Labs Launch on Blast Network

Notably, the Thruster platform will introduce USDe and sUSDe to liquidity provider pools paired with USDB. The announcement indicated that both pools will receive maximum Ethena allocation with 30X Sats alongside Blast Gold and Thruster Credit.

The company further indicated that  USDe and sUSDe users who stake on Hyperlock Finance will receive an additional 5X Sats.

Following the successful launch of Ethena Labs on the Blast L2 network, Juice Finance will enable users to borrow up to 3X against their USDB into Thruster and Hyperlock Finance V3 USDe for up to 105x Sats and single-sided deposits up to 20X.

Notably, Ethena Labs users can now supply USDe to borrow on Orbit lending protocol. Users who supply USDe to Orbit Protocol can access up to 4X leverage and be eligible to receive 20x rewards on their positions alongside Blast Gold and Orbit Points.

The successful launch of Ethena Labs on the Blast network will enable leveraged looping of USDe and sUSDe up to 5x via Init Capital.

“Both pools will receive maximum Ethena allocations aligned with our pools on Morpho on Ethereum L1 with 20x and 5x respectively with Blast Gold and 1.5x Init Points,” Ethena Labs noted.

Meanwhile, single-sided deposits of USDe will be made available on Particle Trade which will enable users to earn up to 20X Sats.

Particle 🤝 Ethena

Now stake with $USDe

✦ 5x additional sats staking Thruster LP: https://t.co/6pVmHd2Khk

✦ 20x sats single sided USDe staking: https://t.co/CLTKOqZJJU

Blast gold + Particle points + Ethena sats, happy farming! https://t.co/0I1c5Uyjz7

— Particle (@particle_trade) May 29, 2024

Market Impact

The launch of Ethena Labs on the Blast L2 network is a major leap forward for the web3 industry, particularly in the Ethereum ecosystem. The Ethena USDe has grown in the recent past to mid-cap stablecoins with a fully diluted valuation of about $2.92 billion and an average 24-hour traded volume of around $101 million.

The announcement, however, did not have a direct positive impact on the ENA price action. As of Wednesday during the early New York session, ENA, a mid-cap altcoin with a fully diluted valuation of about $12.8 billion, traded around 84 cents, down approximately 7 percent in the last 24 hours.

As for the Blast network, its total value locked (TVL) which stands around $2.24 billion at the time of this writing is bound to grow exponentially in the coming months.

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Ethena Labs Launches on Blast L2 Network to Integrate USDe and sUSDe with More Web3 Protocols

Coinspeaker Circle Brings USDC to Brazil to Boost Digital Dollar Adoption 

Circle, a leading financial services company and issuer of the second-largest stablecoin USDC, has officially entered Brazil to enhance access to the digital dollar.

The company’s expansion into Brazil aims to provide USD-backed digital currency and infrastructure to a country renowned for its booming fintech sector.

Circle announced the expansion during the Circle Fórum São Paulo, a one-day event where businesses gathered to discuss the impact of digital dollars on Brazil’s economic growth.

Strategic Partnerships to Enhance Digital Dollar Access

To facilitate its entrance into the Latin American market, Circle has partnered with  local banks such as BTG Pactual and Nubank. These partnerships will enable Circle to offer digital asset products and services, allowing users to access the USDC stablecoin without hurdles.

Additionally, the collaborations will allow USDC to integrate with local banking systems, providing businesses with fast and cost-effective options to mint and redeem digital dollars. Circle said one of the partners, BTG Pactual, will be responsible for distributing the stablecoin across the Brazilian market. The investment bank will offer access to the stablecoin to its existing customers, including both retail and institutional investors.

Additionally, BTG Pactual will facilitate the onboarding of new clients interested in the digital dollar.

André Portilho, a senior executive at the bank, stated that the partnership with Circle is a “testament” to their belief in blockchain’s potential to transform the traditional financial system.

“Our partnership with Circle is a testament to our belief that blockchain technology will form the new infrastructure of the financial industry. These milestones underscore our dedication to pushing the boundaries and shaping the future of digital assets,” said Portilho.

As for Nubank, the company already provides its customers in Brazil with access to USDC. The bank and Circle entered into a strategic partnership in December 2023 to make the digital dollar accessible to its customers.

New Opportunities for Brazilian Customers

Nubank disclosed that Circle’s expansion will enhance the security, transparency, and diversification of its crypto portfolio for its more than 100 million active users.

The bank said that Circle’s entrance into Brazil means more opportunities for its customers. Thomaz Fortes, general manager of Nubank crypto said there is a new generation of financial infrastructures coming to the Brazilian market.

“We are glad to partner with Circle to help democratize access to the world of digital assets and contribute to the future of digital financial transactions. We believe that there’s a new generation of financial infrastructure coming, and we’re ready for it,” he said.

On the other hand, Circle CEO Jeremy Allaire said the company is committed to making a positive impact in Brazil. He noted that the expansion into the Brazilian market would bring “many opportunities” to the nation’s fintech sector.

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Circle Brings USDC to Brazil to Boost Digital Dollar Adoption 

Coinspeaker Bitcoin Long-Term Holders Reaccumulating for First Time since December

Renowned market intelligence company Glassnode recently revealed an important change in the behavior of long-term Bitcoin holders, as they have returned to the re-accumulation phase for the first time since December 2023. As the latest data reveals, Bitcoin, while trading just under an all-time high, entered a phase where the long-term holders are starting to increase their holdings once again.

This behavior follows a period of significant divestment earlier this year, coinciding with Bitcoin’s price surge to a new peak of $73,000 in early March. The growth prompted a selling wave from long-term holders, which created an overhang of supply and contributed to a subsequent consolidation phase for BTC. However, in recent weeks, the pressure to sell from these holders has reduced and given way to a phase of re-accumulation.

Further to the Glassnode analysis, on-chain analytics firm 0nchained corroborates that cohorts holding bitcoin for more than one year and two years have stopped selling. It states:

“The 1-year+ and 2-year+ cohorts have transitioned from a distribution phase to a holding phase.”

A Rise in Demand

Glassnode also points to renewed buy-side demand indicators, notably highlighted by major net inflows into spot bitcoin exchange-traded funds (ETFs). As per the latest data, these products have amassed an average of $242 million per day last week.

This influx contrasts sharply with the daily sell pressure created by miners since the halving, which averaged $32 million per day. The report explains:

“Considering the natural daily sell pressure by miners, these ETFs’ buy pressure is almost 8 times larger. This highlights the size and scale of the ETF impact, but also the relatively small influence of the halving moving forwards.”

“As the market approaches new all-time highs and enters price discovery, we observe the beginning of the Euphoria phase, characterized by 93.4% of bitcoin supply held in profit,” Glassnode noted. Notably, this phase typically lasts 6-12 months and indicates a period where holders are content to keep their holdings, anticipating further price rise.

The analysis underscores a nuanced approach by long-term holders, balancing between profit-taking and anticipating further price appreciation.

A Comparison with Past Bull Cycles

Despite the optimistic signs of re-accumulation and bullish sentiment, Glassnode highlights that the current bitcoin bull cycle appears to be more tempered compared to historical cycles.

Over the past three months, bitcoin has seen weekly, monthly, and quarterly gains of over 3.3%, 7.4%, and 25.6%, respectively, on just five occasions out of the last 90 days. However, historical data shows that in previous market cycles, these gains occurred more frequently, typically between 18 and 26 days within a 90-day period. “This indicates that the current market sentiment may be more measured relative to historical bull markets,” according to the analysts.

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Bitcoin Long-Term Holders Reaccumulating for First Time since December

Coinspeaker Texas Securities Board Issues Cease-and-Desist against Arkbit for Scam Investment Scheme

The Texas State Securities Board has issued an Emergency Cease and Desist Order to stop a fraudulent multi-level marketing (MLM) scheme perpetrated by Arkbit. According to the order, Arkbit must stop its investment plans that offer users purported returns from cryptocurrency mining investments. The Arkbit company comprises Arkbit Capital, Arkbit Capital Holdings, ABC Holdings LLC, and ABC Mining.

Arkbit’s Payment Processor Account in India

The order states that Arkbit claims to operate data centers in Arkansas, which are used for cloud mining several digital assets. According to Arkbit’s website, the Standard and Comprehensive ROI Plans the company offers advertised daily returns of between 1.6% and 2.8%, for 120 days. This requires an investment deposit of cryptocurrencies worth between $50 and $59,999.

The Texas State Securities Board also found that Arkbit Capital used payment processor CoinPayments.Net to facilitate user investment payments. However, the payment processor’s policy restricts users from the United States and several other jurisdictions. Interestingly, the CoinPayments account holder turned out to be a Paras Khivesara in Hyderabad, India, and not Arkansas.

Texas Securities Board Exposes Arkbit for Doctored Images and Videos

According to the Texas regulator, Arkbit also manipulated several images and videos to promote their offerings. For instance, a video Arkbit Capital used showed the company’s founder and CEO Delma Estabrook at a 2023 cryptocurrency conference held in Austin, Texas. However, authorities could not find any evidence to support Estabrook or Arkbit’s presence at the conference.

Authorities have also found that a video showing Arkbit’s office, supposedly in Little Rock, Arkansas, is actually an office space in Los Angeles anyone can rent as a workspace. To add some credibility to its scheme, Arkbit registered with the Arkansas Secretary of State office as a business entity.

The order exposes Arkbit’s use of social media to drive its scams. The company regularly drives users to its website and investment content using Facebook, LinkedIn, Instagram, and X. There is also a YouTube account Arkbit used to show purported data centers in Arkansas. According to the Texas Securities Board, Akbit used “stolen and edited photos and video” to advertise some credibility. One such YouTube video turned out to be an edited stock video from stock footage website Pond5, of a crypto mining server plant.

Authorities Caution Investors

Texas Securities Commissioner Travis J. Iles has advised investors to adopt “healthy skepticism” when dealing with lucrative investment opportunities advertised by unfamiliar persons. Iles said would-be investors must be aware that methods used by fraudsters are changing, making it more difficult to differentiate legitimate investments from scams.

According to Joe Rotunda, the Director of the Enforcement Division of the Texas State Securities Board, the crypto sector has had its fair share of these scams. Rotunda said:

“This is a common tactic we see in online crypto investment scams. By appearing to be part of the cryptocurrency industry, bad actors attempt to seem like legitimate contributors to the space. Don’t be fooled.”

Last July, the state’s Securities Board issued a Cease and Desist Order against Abra, comprising a few businesses accused of securities fraud. In January, the Board announced a settlement with Abra, allowing investors to withdraw their funds.

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Texas Securities Board Issues Cease-and-Desist against Arkbit for Scam Investment Scheme

Coinspeaker JPMorgan Supports Riot Platforms’ Bid to Acquire Bitfarms

Analysts at JPMorgan, an American multinational financial services company, support Riot Platforms’ proposed move to acquire rival company Bitfarms to build the largest publicly traded Bitcoin (BTC) mining center in the world.

Riot officially declared its intention to acquire Bitfarms on Tuesday, proposing to purchase all outstanding BITF shares at $2.30 per share. This offer represents a 24% premium to the company’s one-month volume-weighted average price as of May 24, translating to an equity value of approximately $950 million.

According to a Wednesday report, the JPMorgan analysts deemed the offer to be strategically and financially sound. They believe the deal  “makes a lot of sense” if accepted.

Riot Buys 9.25% Stake in Bitfarms

Riot had earlier attempted to acquire Bitfarms privately without disclosing it to the public.  However, the offer was rejected by Bitfarms’ board last month.

Undeterred by the rejection, Riot proceeded to acquire a 9.25% stake in Bitfarms, becoming one of its largest shareholders.

In light of this renewed bid, the company plans to call a special shareholder meeting to address its proposal, which it believes would benefit both companies.

During the meeting, the company wants to discuss appointing a new independent director to Bitfarms’ board citing concerns regarding the commitment of certain directors to act in the best interests of all shareholders. Riot believes the initial rejection stemmed from some directors at Bitfarms not representing the full interests of shareholders. Now, the firm wants to discuss the proposal directly with the shareholders.

“We are deeply concerned that the founders on the Bitfarms Board – Nicolas Bonta and Emiliano Grodzki – may not be acting in the best interests of all Bitfarms shareholders,” said Jason Les, CEO of Riot.

He noted that the sudden dismissal of Bitfarms CEO Geoffrey Morphy, who was fired following allegations of violation of contract without a “transition plan in place at a critical period of execution for Bitfarms and the industry raises serious governance questions”.

Proposed Merger Promises

As the industry anticipates the outcome of the proposed acquisition, Riot’s executive chairman Benjamin Yi, said the acquisition will be beneficial for both companies.

He noted that merging with Bitfarms would enable them to pool resources and create the largest Bitcoin mining firm in the world.

“A combination of Bitfarms and Riot would create the premier and largest publicly listed Bitcoin miner globally, with geographically diversified operations well-positioned for long-term growth,” Yi said.

Riot also pointed out that the merger would be advantageous for shareholders of both companies. The acquisition would establish a vertically integrated Bitcoin mining company with up to 1.5 GW of power capacity and 52 EH/s self-mining capacity by the year’s end.

The combined company would operate 15 facilities across the United States, Canada, Paraguay, and Argentina, ensuring geographic diversification and benefiting from favorable energy arrangements.

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JPMorgan Supports Riot Platforms’ Bid to Acquire Bitfarms

Coinspeaker Bitcoin Price Slumps as Meme Coins Takes Bullish Spotlight

In the past 24 hours, Bitcoin (BTC) and Ethereum (ETH) prices have decreased by slightly more than 1%, an indication of a subdued crypto market following last week’s rally. Although major tokens like Solana’s SOL, XRP, and Binance Coin (BNB) have shown little change, meme coins, particularly Shiba Inu (SHIB), have driven significant gains, with the token climbing up to 12%.

CoinDesk 20 (CD20), an index tracking the largest tokens excluding stablecoins, declined by 0.5%. This is a general reflection of market sentiments despite the spot Ethereum ETF approval and other bullish predictions by top crypto analysts and influencers.

Shiba Inu Is Outperforming Bitcoin

Despite the bullish predictions for the two top digital assets, it is meme coins that are witnessing a surge in market performance today.

Notably, the surge in meme coins, including Dogecoin (DOGE) whose price was down 5% following the death of Kabosu and SHIB, commenced on Tuesday in the European trading hours. This coincided with a 19% rise in pre-market trading for GameStop Corp (NYSE: GME) stocks. Generally, such movements in GameStop have often led to gains in meme tokens.

In a statement, Rennick Palley, founding partner at Stratos, a crypto fund, noted there is a shift amongst popular memes following the re-entry of Asian traders to the market. Palley attributed this trend to the positive impact of the excitement around the ETH ETF and the US regulatory shift towards a more pro-crypto stance.

According to him, “most tend to see their prices rise most significantly during Asian trading hours, during the middle of the night US time.”

Notably, the rally in Shiba Inu in recent times could be attributed to different factors, including strategic partnerships, renewed investor interest, and recent technological upgrades in the Shiba Inu ecosystem. SHIB price jumped nearly 15%, reaching $0.00002931 with a market cap of $16.74 billion.

In effect, the meme coin exceeded Cardano’s market cap of $16.44 billion. This placed Shiba Inu among the top 10 cryptos globally, effectively dethroning Cardano.

Factors behind SHIB’s Rally

A remarkable surge has registered in recent weeks amongst meme tokens like Pepe (PEPE) and Mog (MOG). These tokens have surged by up to 100%, fueled by optimism surrounding the Ethereum ecosystem and the approval of a spot Ethereum ETF in the US.

However, despite the bullish rally for meme coins in market activity, Bitcoin remains in a bearish trading range. According to Alex Kuptsikevich, a Senior Market analyst at FxPro, a shift in pattern will occur when there is a clear daily close above the $70,000 level. Though Bitcoin remains in consolidation mode, the coin boasts of many fundamentals bordering on spot Bitcoin ETF, market sentiment needs to rhyme for the expected breakout

“A clear exit and daily close above $70,000 will break this bearish pattern. Until then, the classic development is a pullback to the lower range at around $68,000,” Kuptsikevich stated.

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Bitcoin Price Slumps as Meme Coins Takes Bullish Spotlight

Coinspeaker Blocksquare Celebrates Reaching $100M in Real Estate Tokenization

Blocksquare, one of the leading blockchain companies focused on real estate tokenization, is celebrating a new milestone. The company, based in Ljubljana, Slovenia, has successfully tokenized $100 million worth of properties across 21 countries.

The firm, founded by Denis Petrovcic, Peter Merc, and Viktor Brajak, has been in the business of real-world asset (RWA) tokenization for real estate since 2017 and has so far tokenized a total of 118 properties.

According to a shared press release, these properties include hotels, restaurants, parking lots, healthcare facilities, and apartments, spanning different geographical locations worldwide.

Celebrating a $100 Million Milestone

Blocksquare attributed its success to its innovative legal structure. The platform, which enables cost-effective asset tokenization, has been recognized for achieving the first notarization of a tokenized real estate transaction on the European Union land registry.

This milestone ensures secure on-chain operations and sets a new benchmark in the real estate tokenization industry, showcasing Blocksquare’s commitment to security and technological advancement.

Commenting on the $100 million milestone, Petrovcic, who also serves as the CEO of the company, credited the achievement to the combined efforts of Blocksquare’s innovative team, dedicated marketplace partners, and holders of the platform’s native token, BST.

He further emphasized that this achievement sends a clear message to the broader crypto industry: tokenizing real-world assets (RWAs) such as real estate holds significant value. This process can act as a bridge, enabling people to invest in traditional assets like real estate through blockchain technology.

“Over $100M in real estate assets in 21 countries across the globe is a clear signal to the industry that tokenizing RWAs like real estate holds immense value for creating a bridge to invest in traditional assets,” he said.

Blocksquare Rolls Out New Launchpad

In addition to reaching the $100 million milestone, Blocksquare has announced the launch of Oceanpoint v0.5, a decentralized finance (DeFi) launchpad aimed at supporting real estate tokenization startups.

The company said the launchpad is already live and is powered by Blocksquare’s utility token, BST.

According to the press release, the token can be staked and converted into its governance token, known as sBST. BST holders can also use their holdings to support emerging tokenization marketplace operators to earn additional rewards.

The launchpad also provides startups with up to a 100% discount on Blocksquare’s SaaS solutions, making it easier for them to launch and grow their ventures.

Blocksquare said that marketplace pools within the new launchpad will offer a democratized pathway for engagement and growth, enabling both marketplace operators and community members to thrive within the ecosystem.

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Blocksquare Celebrates Reaching $100M in Real Estate Tokenization

Coinspeaker Pulsar Finance Integrates Solana, Expands Cross-Chain Portfolio Tracking

Pulsar Finance, a multi-chain portfolio tracker, has announced the addition of the Solana (SOL) blockchain to its platform. By integrating Solana, the platform aims to provide users with solutions for managing their assets across multiple chains, addressing the challenge posed by the fragmentation of the Web3 ecosystem.

Addressing Web3 Fragmentation with Comprehensive Portfolio Management

The cross-chain portfolio manager, founded in 2021 and later acquired by Terraform Labs in November 2023, has been leading the portfolio management system. With the addition of Solana, the platform can now track web3 assets across 113 blockchains, thereby providing users with a comprehensive solution for tracking their digital assets across multiple ecosystems.

In a post by Pulsar Finance co-founder Eduardo Alves, he explained that as the Web3 space gets more fragmented, it’s becoming difficult and time-consuming to track asset value, hence the need for an asset management solution like Pulsar Finance. In his words:

“Keeping up with your portfolio’s value using Spreadsheets and manual tracking is incredibly time-consuming.  Luckily, our Portfolio Tracker fixes this – we’re the number one solution for Web3 asset management.”

To use this platform, users do not need to connect their wallets, as the team behind the solution is very concerned about customers’ privacy; they can simply add their Solana address or use their Solana Name Service.

Solana Integration: Enabling Tracking of a Rapidly Growing Ecosystem

The Solana integration into Pulsar Finance is essential given the uniqueness in speed and low transaction rate of the SOL blockchain compared to others. Also, the coin has been experiencing a surge in trading volume, which is also increasing its market capitalization and price. This has further propelled the coin to establish its position as the fifth largest cryptocurrency by market capitalization.

The rising metrics show the increased demand for Solana solutions and the long-term prospect of the SOL coin. Pulsar Finance’s integration of the blockchain is undoubtedly a game-changing addition to its services. The co-founder said:

“Solana has become an integral part of the multi-chain world due to its low transaction fees, lightning-fast execution, and amazing UX. This integration is a huge milestone in our mission of becoming the biggest portfolio  tracker in the market.”

Expansion Plans: Aiming to Become the Biggest Portfolio Tracker

The multi-chain asset management co-founder further revealed that the company is currently working on adding another two major blockchains that are ‘incredibly hyped’  to its network. Alves stated that Pulsar Finance aims to become the biggest portfolio tracker in the market; hence, the integration of Solana into its system is the right step in the right order.

It is safe to say that as the blockchain and crypto space continues to become more fragmented, platforms like Pulsar Finance will play a significant role in helping users stay organized and making asset management easier for them.

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Pulsar Finance Integrates Solana, Expands Cross-Chain Portfolio Tracking