Bitcoin (BTC) is resilient, maintaining elevated price levels below its record highs. This stability suggests a temporary pause typical of a bull market. 

However, recent macroeconomic developments have introduced potential risks hindering upward movement. Chang, a crypto options trader and market analyst, highlighted these concerns in an interview with CoinDesk. He emphasized that fluctuating bond yields and a volatile dollar index might test Bitcoin’s strength.

Rising Treasury Yields and Their Impact

The rising yields on U.S. Treasury bonds have been a focal point for market analysts. The benchmark 10-year Treasury yield has increased by 24 basis points to 4.55% over two weeks, as per TradingView data. Analysts caution that a move above 4.7% could inject volatility into the stock markets. The uptick in yields is attributed to persistent U.S. debt concerns, an influx of bond supply, and increasing Japanese government bond yields.

Elevated yields translate into higher borrowing costs for individuals and companies, diminishing the appeal of riskier investments like Bitcoin and technology stocks. Chang predicts continued yield volatility in June, maintaining a close correlation between Bitcoin and the stock market. The two-year Treasury yield is nearing 5%, prompting macro traders to rotate investments from riskier assets to the perceived safety of government bonds.

Macro Traders Eyeing Bond Yields and Inflation Data

As bond yields reach levels that could weigh on all asset classes, traders are keenly monitoring key economic indicators. Peter Oppenheimer of Goldman Sachs remarked that further increases in bond yields from current levels could have broad repercussions across financial markets. The upcoming release of the personal consumption expenditures (PCE) price index is particularly anticipated for insights into Federal Reserve interest rate policies.

The PCE price index, the Fed’s preferred inflation measure, is scheduled for release on Friday. Forecasts from FactSet anticipate a 2.7% annual rise for April, mirroring March’s increase. The core PCE, excluding food and energy prices, is expected to show a 2.8% yearly rise and a 0.3% month-over-month increase. Should these figures exceed expectations, the case for renewed interest rate cuts might weaken, potentially leading to further hardening of bond yields.

Correlation Between Bitcoin and Broader Markets

The interplay between Bitcoin and broader financial markets is a critical area of focus. With the Fed funds futures indicating investors are pricing in just 35 basis points of rate cuts this year, the reaction of risk assets to economic data becomes even more crucial. Chang notes that a stronger-than-expected core PCE figure would likely discourage investment in risk assets, including Bitcoin.

Bitcoin’s trajectory appears closely tied to macroeconomic trends. While it remains strong, the influence of rising bond yields and shifting investor sentiment towards safer assets could pose challenges.

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The general crypto market looks to enter the weekend on a positive note as the majority of the coins are trading in the green zone according to an oversight of the heat map. At the time of writing, the global crypto market cap is up by a slight 0.90% to $2.53 trillion.

However, the total trading volume across the market has dipped by 10.13% to $74.86 billion over the last 24 hours with stablecoin volume taking up at least 94.04% of the total trade. Top coins including Bitcoin (BTC) and Ethereum (ETH) have begun a marginal rally, while others like Solana (SOL), XRP, and Dogecoin (DOGE) have followed.

Let us take a look at their price reactions in the last 24 hours.

Top Crypto Prices Today

Leading the charge, the price of Bitcoin (BTC), the flagship cryptocurrency has jumped by 1.06% to trade at $68.2k over the last day. However, its trading volume within this time has declined by 4% to $26.3 billion with a live market cap of $1.3 trillion. BTC has traded between the range of $67,446.06 and $69,466.71 in the last 24 hours.

On the altcoin front, the price of Ethereum (ETH), the second-largest cryptocurrency by market cap has spiked by a little 0.43%, changing hands at $3,734. Just like Bitcoin, its 24-hour trading volume has plummeted by 20% to $13.6 billion. Additionally, ETH has traded between the lows and highs of $3,716.77 and $3,825.51 over the last day.

The price of Solana (SOL) also increased at press time. According to data from CoinMarketCap, Solana has grown by a noticeable 1.38%, trading at $167.09. As a result, SOL positions as the top gainer among the top 10 largest cryptocurrencies. What is more, Solana’s trading range has been between $164.73 and $172.05 in the last 24 hours.

Trending cryptocurrency XRP has also managed to spike over the last day. Per CMC data, the price of XRP has jumped by 0.7% to trade at $0.52. XRP has also witnessed a drop in its trading volume in the last 24 hours, declining by 10% to $1.13 billion with a live market cap of $28.8 billion. Notably, XRP has traded between the lows and highs of $0.5159 and $0.5263 in the last 24 hours.

On the memecoin front, the price of Dogecoin (DOGE) has ignited hopes as it rises by 1.0% to change hands at $0.15. Additionally, the activities surrounding the coin as portrayed in its trading volume have dropped by 22.27% to $1.1 billion. The 24-hour lows and highs of DOGE are $0.1579 – $0.1643.

Shiba Inu (SHIB) on the other hand has taken the south direction. Data from CoinMarketCap shows that the price of SHIB has dropped by 1.62% to trade at $0.00002577. The 24-hour trading volume of the token has also declined by a significant 55.11% to $698.4 million. The tokens’ lows and highs over the last day are $0.00002572 and $0.00002696.

Trending Top Gainers Today

Meanwhile, in the top trending gainers list, some coins have performed well in the last 24 hours. Some of them are;

JamsyCoin (JAMSY), a cryptocurrency project of a Tokyo-based Internet of Things provider, has grown by 20.05%, changing hands at $0.029 with a 24-hour trading volume surge of 399% to $564.4 million.

Dog To The Moon (DOG) memecoin, surged by 17% to trade at $0.007. Its trading volume within the recorded time has also gained 4% to $87.6 million.

Pepe (PEPE) memecoin has continuously maintained its position as a top gainer. According to fresh data, PEPE is currently selling at $0.00001457, signifying a 9% increase over the last day with a 24-hour trading volume of $1.8 billion. What is more, PEPE has traded between the lows and highs of$0.00001328 and $0.000015 which is about 15.1% below its all-time high of $0.00001717 reached on May 27.

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Luna Foundation Guard (LFG), a platform dedicated to supporting blockchain innovators, has gained headlines today after it moved a substantial $94 million in crypto holdings to a new address. This comes after its previous announcement of transitioning assets to a direct custody solution.

Meanwhile, despite the large transfer, the foundation still holds a significant amount of assets including Bitcoin (BTC), Ethereum (ETH), and Binance Coin (BNB). Following this move, the crypto community has raised speculations about the timing of the transfer.

LFG Transitions to Direct Custody with $94 Million Crypto Transfer

On May 28, LFG took to its official X (formerly Twitter) platform to inform the public about its plans to transition assets held in its multi-sig wallets to more robust direct custody as part of security measures to enhance the protection of its funds.

Per the announcement, crypto assets held in the specific Avalanche (0x46…9cE5) and BSC (0x36…a102) wallets will be migrated to a new wallet address labeled as ‘0x13…2e27.’ Sticking to this, the foundation began transferring cryptocurrencies held in the previous wallets to the new address today.

According to data provided by Arkham Intelligence, LFG transferred a staggering 1.974 million AVAX (valued at $71.19 million), and 39,497 BNB (worth $23.45 million) to the new address approximately 4 hours ago from the time of writing.

Source: Arkham Intelligence

Other smaller transactions carrying 1.88 BNB (worth $1,120) and 2.88 (worth $103.88) were still recorded. Before these transactions, the last time LFG initiated substantial transactions was about 2 months ago when it moved $250.7k worth of USDC stablecoin to the high-performance cross-chain trading platform, DLN Trade, and 413.9 BNB (valued at $251.6k) to PancakeSwap.

To uphold transparency, LFG informed the public that they can continue to track its holdings via the LFG Reserve dashboard. A closer look at the dashboard shows that LFG still maintains a total of $21.55 million of crypto assets with the major including 313 BTC ($21.37 million), and 50.368 ETH ($188,300).

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The volume of large transfers involving XRP has raised an alarm across the community with whales continually moving huge numbers across exchanges and wallets. While investors hope for a price jump to the $1 mark, the steady whale transactions are beginning to cast a shadow of doubt about the future outlook of the coin.

Over the last 24 hours, a staggering 320 million XRP coins were shifted by large investors with onlookers speculating about the possible reasons for these movements. A popular crypto tracker explains how these transactions took place. Let us take a look.

320 Million XRP Transfer in Detail

Whale Alert, a renowned large crypto transaction tracker, reported substantial transactions moving over 320 million XRP coins between wallets and centralized exchanges. According to the report, the mentioned number of coins were moved across three separate transactions by two whales.

The first transaction happened approximately 15 hours ago from the time of writing, accumulating a mouthwatering 262,575,885 XRP (worth $137.2 million) from the California-based crypto exchange, Kraken to a wallet labeled ‘unknown.’

262,575,885 #XRP (137,276,075 USD) transferred from #Kraken to unknown wallethttps://t.co/lX4r84iD63

— Whale Alert (@whale_alert) May 30, 2024

A few hours later, a popular whale, known to have moved a large amount of XRP over the past months returned, this time transferring a total of 58 million to two different exchanges. The first one carried 29,580,000 XRP to the Mexico-based exchange Bitso, and then the second transfer moved 28,610,000 XRP to the Luxembourg-based CEX, Bitstamp.

It is important to note that this whale identified as ‘r4wf7…4Rzn’ has initiated significant transfers of XRP to both Bitstamp and Bitso exchanges since the blockchain giant Ripple Labs partnered with the companies.

Source: Whale Alert

Meanwhile, these aforementioned transactions took place after Ripple’s recent reply to the Securities and Exchange Commission about concealing important remedies-related documents in the ongoing court case with the regulatory watchdog.

XRP Price Goes South

Following the whale activities, the price of XRP nosedived by almost 1.5%, however, the price of the coin has recovered a bit from the fall. According to data from CoinMarketCap, XRP is currently trading at $0.517, representing a 0.09% increase. The coin has traded between the range of $0.5131 – $0.5263 in the last 24 hours.

Also, the trading volume over the last 24 hours had dropped by 1.01% to $1.2 billion, with a live market cap of $28.6 billion. Furthermore, Coinglass data revealed that the derivatives market volume fell by 0.57% to $817.80 million today, after XRP Futures Open Interest dropped by 3.48% to $603.46 million. This demonstrated a decline in investor interest in the asset in the futures market, consistent with the declining value of the token.

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Apus Network has made a significant stride in Trustless AI by participating in PermaDAO’s ‘AOS-llama Practice and Code Interpretation and Trustless GPU Solution’ event. 

The highlight of their participation was launching a Trustless GPU solution designed to enhance AI verifiability within the AO ecosystem. This launch aligns with a proposal by Sam Williams, emphasizing the facilitation of Trustless AI. The solution was officially unveiled at the Consensus 2024 conference, marking a notable advancement in blockchain and AI integration.

Big thanks to @chainbnb_news and @ForesightNewsEN for featuring our latest breakthrough! Inspired by @samecwilliams , #ApusNetwork is proud to introduce our Trustless GPU solution for achieving Trustless AI in @aoTheComputer at #Consensus2024 with @dephynetwork DID.… pic.twitter.com/WnLpFUumzD

— Apus Network | We are hiring… (@apus_network) May 30, 2024

Detailed Explanation of AOS-llama Project

During the event, Apus Network provided an in-depth explanation of the AOS-llama project. This project aims to integrate AI inference directly with on-chain invocations, allowing developers within the AO ecosystem to implement any AI model.

The primary focus is ensuring the verifiability of both AI models and their inference results. By doing so, Apus Network addresses a critical need for trust and transparency in AI applications within blockchain environments.

Seth Bloomberg on AO’s Architecture

In a similar report, Tech expert Seth Bloomberg highlighted a notable aspect of the AO ecosystem: its modular architecture, which separates the consensus mechanism from the computation required by applications. According to Seth, this unbundling enables developers to scale security and computation independently, providing a flexible and efficient foundation for building applications. 

3/7 One of the biggest tech value props I see with AO is its separation of consensus mechanism from the computation that apps need.Unbundling these gives AO its modular architecture and allows devs to scale the security and computation underlying their apps.

— seth bloomberg (@bloomberg_seth) May 30, 2024

This approach significantly differentiates AO from other smart contract platforms, which often do not offer this level of modularity and scalability. Seth adds that applications in the AO ecosystem incentivize compute providers to process state updates and other messages, creating a dynamic marketplace. 

This marketplace ensures that applications receive the necessary resources tailored to their needs. This mechanism departs from the traditional models used by most smart contract platforms, which typically lack such an efficient resource allocation system. Seth’s insights underscore AO’s innovative approach to fostering a balanced and efficient computational ecosystem.

Fair Launch of AO Token

In addition to these technical advancements, AO has announced the upcoming launch of its token, $AO. As denoted in AO’s official X post, the token distribution model is designed to be fair, with no pre-mines, pre-sales, or preferential access.

AO will have its own token.Existing models are broken. A radically new approach:1⃣ $AO will be 100% fair launch. Zero pre-mine, pre-sales, preferential access etc.2⃣ Every single token will be minted by bridging to AO, holding $AR, or building.3⃣ 21m, 4 year halving. pic.twitter.com/tK5XRLk6NB

— ao (@aoTheComputer) May 30, 2024

Moreover, every token will be minted through bridging to AO, holding $AR, or building within the ecosystem. The total supply is capped at 21 million, with a halving schedule every four years. This approach aims to create a decentralized and equitable token distribution, promoting long-term sustainability and community involvement.

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The Pyth Network has recently launched its USDM/USD price feed, significantly enhancing the availability and reliability of pricing information for the USDM token.

This new feed is accessible on over 60 blockchains, providing widespread access to accurate and timely price data.

The Pyth Network has released its USDM/USD price feed.$USDM is an ERC20 rebasing token by @MountainUSDM, with a redemption value pegged at 1:1 for primary customers.The Pyth USDM/USD price feed is now available on more than 60 blockchains. pic.twitter.com/rIp4YDJYHw

— Pyth Network (@PythNetwork) May 30, 2024

USDM: An Overview

USDM is an ERC20 rebasing token created by Mountain USDM. This token is designed with a unique feature where its redemption value is pegged at a 1:1 ratio for primary customers, ensuring stability and predictability in its value. 

PYTH network wrote in an official X post:

“$USDM is an ERC20 rebasing token by @MountainUSDM, with a redemption value pegged at 1:1 for primary customers.”

The rebasing mechanism allows the token supply to adjust automatically, maintaining its pegged value and offering a stable option for users and investors.

Pyth Network’s Role

Pyth Network is crucial in delivering high-quality price feeds to decentralized applications (dApps) and financial platforms. By integrating the USDM/USD price feed, Pyth Network enhances the functionality and reliability of financial operations across numerous blockchains. This integration allows developers and users to access precise and up-to-date pricing data, fostering greater trust and efficiency in the decentralized finance (DeFi) ecosystem.

PYTH/USD Price Action

The PYTH/USD pair has been experiencing a significant bearish trend over the past 30 days. As of press time, the price of PYTH is $0.4094, reflecting a substantial 26% decline on the monthly chart. This downward momentum is also evident in shorter time frames, with the token recording a 6% drop over the past week and a 4% decline in the last 24 hours. 

Compared to its all-time high of $1.15, achieved on March 16 this year, PYTH has plummeted by 64.47%. However, it is worth noting that the current price is a 78.56% increase from its all-time low of $0.2289, reached in January this year.

Moreover, this persistent bearish momentum is mirrored in PYTH’s market capitalization, which has decreased by 4.46% in the last 24 hours. With a market cap of $1,482,953,854, PYTH currently ranks as the 66th largest cryptocurrency.

Despite the negative sentiment surrounding the token, there is a notable uptick in its 24-hour trading volume. The trading volume has surged by over 8%, reaching $104,925,657. This increase suggests heightened interest and activity in the token, even amid its recent price decline.

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Telegram’s Wallet, a third-party cryptocurrency wallet mini app, is introducing sweeping changes that will tighten its Know Your Customer (KYC) regulations and alter its service provider, affecting how users interact with its platform.

Enhanced KYC Requirements

As of May 29, the Wallet has mandated the disclosure of additional personal information for users to access its core functionalities, except for withdrawals. From June 3, users will need to provide their name, phone number, and date of birth to utilize most features offered by the Wallet, marking a significant departure from the previously lax requirements.

This new KYC system marks a substantial shift in the user experience on Telegram’s Wallet. Previously, users were not required to complete any KYC procedures to utilize the wallet’s basic features. The updated system introduces three distinct tiers of identification, each with varying transaction limits and requirements.

The first tier, labeled as the “basic” identification level, imposes a daily limit of 3,500 euros ($3,780) and a monthly limit of 35,000 euros ($37,800) on incoming crypto transactions. This level does not necessitate any documentation. However, the limits are approximate and can vary depending on local exchange rates, as stated in Wallet’s KYC notice.

The second tier, known as the “extended” version, requires users to submit their national identification. This tier allows for transactions up to 100,000 euros ($108,000) daily and 1 million euros ($1.08 million) monthly. For users seeking even higher transaction limits, the “advanced” version is available, which requires the provision of a residential address and removes any upper limit on the sum of funds that can be transferred. 

These new regulations also impose significant limits on card purchases and peer-to-peer transactions. However, the changes do not apply to TON Space, Wallet’s self-custody sub-wallet, which enables users to conduct decentralized swaps and transfer non-fungible tokens (NFTs).

Source: Telegram Wallet’s official website Change in Provider

In conjunction with the KYC updates, Telegram’s Wallet announced a change in its service provider. Effective May 30, 2024, Wallet services will be managed by WOT Global Solution, a subsidiary of The Open Platform (TOP), formerly known as First Stage Labs. This change follows the merger of Wallet with TOP in September 2023 to collaboratively work on Web3 applications and development.

As part of this transition, all user data will be transferred to WOT Global Solution. This includes information such as names, addresses, phone numbers, transaction data, and any other data Wallet might possess about its users. A spokesperson for Wallet assured that this data would be stored securely and would not be used for any purpose other than the operation of Wallet.

Users who wished to prevent their data from being transferred to WOT Global had the option to delete their Wallet accounts by May 20. Wallet emphasized that this change is part of ongoing efforts to enhance service quality.

Since telegram’s Wallet is a mini-app on the Telegram platform, it enables users to purchase cryptocurrencies like Bitcoin, Tether, and Toncoin (TON), a cryptocurrency initially backed by Telegram. The wallet operates as a custodial service, meaning that users do not directly own their assets but instead trust a third party to hold their crypto. This custodial nature allows Wallet to impose limits on crypto transactions, contrasting with self-custodial wallets like MetaMask, Trezor, or Ledger, where users have direct control over their assets without any imposed limits or KYC requirements.

Community Response and Future Outlook

The response within the Telegram Wallet community has been mixed regarding these changes. Some users have raised concerns about privacy and centralization, fearing that the new requirements could negatively impact the wallet’s native token, TON. Others view the stricter KYC measures as a necessary step towards broader adoption and enhanced security.

Wallet’s Chief Operating Officer Halil Mirakhmed explained in November 2023 that the decision to maintain Wallet as a custodial solution was aimed at simplifying the onboarding process for new users. This approach aligns with the broader industry trend towards enhancing security and compliance, even as it brings up debates about the balance between user convenience, privacy, and regulatory adherence. As Wallet transitions to its new service provider and implements these KYC changes, it remains to be seen how these developments will affect its user base and overall adoption within the rapidly evolving cryptocurrency ecosystem.

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The New York State Department of Financial Services (NYDFS) has issued new guidelines mandating that companies engaged in virtual currency activities maintain robust policies and procedures to swiftly respond to customer service requests and complaints.

The directive, issued by Superintendent Adrienne Harris, underscores the necessity for virtual currency entities (VCEs) to provide consumers with a transparent and timely resolution process. The state’s definition of VCEs includes those holding New York’s BitLicense as well as companies chartered as limited purpose trust companies under New York Banking Law, essentially covering licensed cryptocurrency businesses in New York.

Emphasis on Positive Customer Experience

Superintendent Harris emphasized that the guidelines are designed to ensure a positive customer experience, benefiting both the consumers and the businesses involved. She stated, “Consumers have a right to a transparent and timely process for resolving complaints and answering questions, irrespective of the company or product in question.” The guidance forms part of the VOLT initiative, aimed at strengthening the regulator’s oversight of the virtual currency sector.

According to the guidance, VCEs must offer their customers accessible channels, such as phone, email, or chat, to submit their complaints and service requests. These firms are also required to regularly update customers on the status of their inquiries, providing estimated timelines for resolution.

Furthermore, NYDFS demands that VCEs conduct a quarterly analysis of the received requests and complaints, a process that will be subject to the regulator’s scrutiny. Firms must also submit their related policies and procedures for NYDFS review by November 1, 2024. 

Historical Context and Impact of BitLicense

NYDFS has been proactive in regulating the cryptocurrency sector in New York, having established its BitLicense regime in 2015. This regulation has seen a variety of firms, including notable names like Coinbase Inc., Circle Internet Financial, LLC, and Robinhood Crypto, obtain virtual currency licenses. However, the stringent regulations have also led some companies to exit the New York market.

The statement from NYDFS further noted that the information provided in the guidelines is not exhaustive and could be updated to respond to new information or changes in the market. The guidance is also not intended to restrict the applicability of any existing law or regulation.

This regulatory tightening follows extensive research by NYDFS, which included consultations with key stakeholders. Superintendent Harris has previously refuted theories suggesting a coordinated effort by U.S. regulators to isolate the cryptocurrency industry from the banking system, describing such claims as “ludicrous” and “silly.” 

New York’s Crackdown on Crypto

In a related development, New York Attorney General Letitia James has vowed to intensify regulatory enforcement against non-compliant crypto companies. This commitment was demonstrated through a recent landmark $2 billion settlement with crypto lender Genesis over allegations that the firm misled investors about its Gemini Earn program, leading to significant financial losses.

This settlement, announced by James, is the largest of its kind in New York’s legal history and requires Genesis to return the fraudulently acquired funds and cease its operations in New York.

Since her election in 2018, Attorney General James has been vigorous in her oversight of the crypto market, launching several crackdowns to ensure that cryptocurrency businesses adhere to established financial regulations.

The NYDFS has also imposed over $177 million in penalties against cryptocurrency companies that have failed to comply with the law. James reiterated her stance on regulatory compliance, stating, “Crypto companies must play by the same rules as everyone else. We will go after those that don’t.”

The evolving regulatory landscape in New York underscores the state’s commitment to ensuring a secure and compliant environment for cryptocurrency transactions, reflecting the increasing scrutiny and regulatory demands facing the crypto industry at large. 

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On May 30, Robinhood, the well-known stock trading application, announced the launch of its cryptocurrency trading API for users based in the United States.

This innovation aims to cater to the sophisticated demands of experienced crypto traders by facilitating the automation of complex trading strategies. Johann Kerbrat, the Vice President and General Manager of Robinhood Crypto, underscored the significance of this new tool, noting that it allows traders to fully harness control over their trading approaches without the need to interact with the Robinhood app directly.

Features and Capabilities of the API

The API enables traders to craft their unique programs that interact with real-time cryptocurrency markets, using algorithms to execute trades based on pre-set parameters.

This automation significantly enhances the precision, speed, and efficiency of trading operations, empowering users to implement advanced strategies that would be challenging to execute manually. “Developers can now create custom products tailored to their specific needs and build personalized tools for crypto trading,” said Kerbrat, emphasizing the customizable nature of the API.

A standout feature of the Robinhood crypto trading API is its support for continuous, 24/7 trading operations. Reflecting on the non-stop activity of the cryptocurrency markets, Robinhood states, “The crypto market is open 24/7, and with the Robinhood Crypto trading API, customers now have the flexibility to trade around the clock programmatically.”

his capability is crucial for traders who seek to capitalize on market movements at any hour, providing them an edge in the fast-paced crypto trading environment.

The API also facilitates a collaborative ecosystem where traders can share their trading codes and strategies with others. This not only fosters a community of shared knowledge but also allows individuals to implement these strategies within their own Robinhood Crypto accounts.

Despite its advanced features, Robinhood has pointed out that the API is designed primarily for seasoned crypto traders who possess the requisite technical expertise to leverage such high-level functions effectively.

Security Measures and Cost-Effectiveness

Security remains a critical priority for Robinhood, especially in the volatile realm of cryptocurrency trading. The platform assures that the majority of the digital currencies managed by Robinhood Crypto are stored in cold storage—secure environments entirely disconnected from the internet.

This method significantly enhances security. Additionally, Robinhood’s security team continuously reviews the underlying code and infrastructure of the platform, while also engaging third-party security experts to test their systems vigorously. These measures are part of Robinhood’s commitment to maintaining some of the most secure trading systems in the industry.

Highlighting the benefits of the API, Kerbrat pointed to its cost-effectiveness. He elaborated, “Our API offers the lowest average cost to trade crypto. With commission-free trading, our customers can maximize their trades without additional costs.”

The launch of the crypto trading API represents a significant milestone for Robinhood, as it not only equips users with powerful tools necessary for succeeding in the unpredictable crypto market but also ensures that their assets are well-protected. 

Expansion into Europe and Regulatory Challenges

Robinhood is also expanding its cryptocurrency services across Europe. Earlier this month, the company launched its inaugural crypto-staking service for Solana, providing a 5% yield accessible directly through the app.

This service is competitive with other major platforms like Kraken and Binance, which offer yields as high as 8%. Additionally, Robinhood rolled out local-language versions of its crypto services in Italy, Poland, and Lithuania and introduced educational content focusing on popular cryptocurrencies such as Bitcoin, USD Coin, and Avalanche.

Amid these advancements, Robinhood faces regulatory scrutiny from the United States Securities and Exchange Commission (SEC), which issued a Wells notice to the platform earlier this month.

This notice is the culmination of an investigation into Robinhood’s cryptocurrency listings and custodial practices, with the SEC making a preliminary determination to recommend an enforcement action for alleged securities violations. This development highlights the complex regulatory landscape that Robinhood navigates as it continues to innovate and expand its offerings in the dynamic world of cryptocurrency trading.

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Neynar, a company providing tools for developers to build decentralized social networks, has announced its Series A funding round, raising $11 million. The funding was led by Haun Ventures, with significant contributions from a16z, CSX, Coinbase Ventures, and Union Square Ventures.

This investment aims to enhance Neynar’s services, particularly for developers creating social applications on Farcaster, although the company has ambitions to support development on any social protocol in the future.

Farcaster’s Role and Future Potential

Farcaster, an open-source protocol with over 378,000 users, enables individuals to own and control their data. It allows developers to build social applications without needing network permission. Recently, Farcaster secured $150 million in funding from a similar group of investors as Neynar, indicating strong financial backing for both entities.

While some may see investing in Neynar as indirectly betting on Farcaster, Breck Stodghill, a partner at Haun Ventures, clarified that Neynar is currently addressing the needs of social developers, who predominantly use Farcaster. This focus does not preclude Neynar from expanding to other protocols and infrastructures in the future.

Neynar cofounder Rishav Mukherji likened the company’s role to that of cloud computing for internet users. Just as cloud computing offers remote storage and eliminates the need for always-online desktop computers, Neynar provides essential services that simplify and expedite the development process for social applications.  

Cost-Effective Solutions for Developers

Before Neynar, developers had to run “hubs” on Farcaster, which functioned like data storage units but at a high cost, often running into hundreds of dollars per month. Neynar offers to manage these hubs for developers at a more affordable rate, starting at $9 per month. This service allows developers to focus on their core projects without being distracted by infrastructure challenges.

Both Neynar and Farcaster are independent companies founded by former Coinbase employees. Neynar’s team first entered the Farcaster ecosystem in 2021, initially to build their own consumer app. During this process, they accumulated various in-house infrastructure tools, which they later offered to others as a service. Mukherji recalls that they set up a landing page offering access to these tools for a fee, and to their surprise, they began receiving payments almost immediately.

Among Neynar’s offerings, their APIs stand out as crucial tools for developers. One API provides immediate data about Farcaster, such as user profile information, social interactions, and other relevant data. Another API allows developers to write data back to the Farcaster protocol, simplifying tasks like posting updates without worrying about the technical complexities. Additionally, Neynar’s “web hooks” notify developers of any issues on Farcaster, ensuring they receive timely updates. 

Cost-Effective Solutions for Developers

Despite the technical advances, attracting everyday consumers to decentralized social networks like Farcaster remains a challenge. Users are unlikely to transition to on-chain social protocols merely because they are decentralized and creator-friendly. It requires a rapidly growing developer ecosystem building innovative products and a strategic approach to market these products effectively.

Neynar addresses this challenge by reducing the interaction between users and the underlying blockchain, offering an experience akin to popular Web2 apps like Instagram or X. For example, Drakula, one of Neynar’s customers, focuses on short-form video and creator monetization similar to TikTok. Neynar’s tools allow Drakula to minimize user engagement with Farcaster, such as managing fees or setting up usernames, thereby providing a seamless user experience.

The Path to Mainstream Adoption

For decentralized protocols like Farcaster to succeed, they must extend beyond the crypto niche and attract a broader audience. According to Stodghill, saturating the crypto niche is critical before expanding to the general public. Developers play a pivotal role in this process, as their contributions are essential to creating appealing, user-friendly applications that can drive mainstream adoption.

Neynar’s efforts to simplify and enhance the development of decentralized social networks, combined with their strategic financial backing, position them as a significant player in the future of social media. By bridging the gap between Web2 and Web3 experiences, Neynar aims to make decentralized networks more accessible and attractive to a wider audience.

The post $11M Boost for Web3 Social Networks: Coinbase, Haun Ventures, and a16z Backs Neynar appeared first on Coinfomania.

The Shiba Inu community has collectively removed millions of SHIB from circulation, thereby raising the burn rate significantly. This is particularly interesting as it comes against the backdrop of the latest Shibarium upgrade.

Members of the Shiba Inu community popularly known as the SHIB Army, have been dedicated to drastically reducing the total amount of SHIB tokens in circulation, hence their participation in the burning event, sending volume tokens to burn addresses.

SHIB Burn Rate up by 380%

Shibburn, a dedicated Shiba Inu burn tracker platform, paints a clear picture of the Shiba Inu burn activity over the last 24 hours. According to the data, about 7,416,452 tokens (7.4 million) have been removed from circulation, consequently increasing the burn rate by exactly 383%. The above-mentioned amount of SHIB was destroyed across 18 transactions.

Notably, three transactions moved the highest volume. Per Shibburn data, the largest transaction, carrying 2 million SHIB tokens was initiated about 56 minutes from press time. The other two burned 1.04 million and 1.24 million SHIB respectively.

Source: Shibburn

It is important to note that the Shiba Inu burn mechanism is in place to create scarcity through token supply reduction by sending volume amounts to burn addresses. So far, the Shiba Inu community has succeded in destroying 410.7 trillion SHIB tokens, leaving a circulating supply of 583 trillion.

Recall that precisely three years ago, in May 2021, Ethereum co-founder Vitalik Buterin started a massive SHIB burn after Ryoshi, the enigmatic Shiba Inu founder gifted him half of the quadrillion supply, a massive 500 trillion SHIB, as a token of appreciation and respect. Instead of keeping it, Buterin burned almost all of the tokens, equivalent to $1.7 billion. He gave the remaining out as charity to Indians as a relief during the pandemic.

Shibarium Announces New Upgrade

Meanwhile, Shibarium, the layer 2 blockchain solution designed to enhance the Shiba Inu community, has announced a major upgrade to its network. Earlier today, the team behind the project took to X (formerly Twitter) to inform the public that it has reduced the bridge time from Shibarium to Ethereum from 7 days to a minimal 45 minutes.

Get ready for a much faster and smoother experience #SHIBARMY We’ve cut down the bridge time from #Shibarium to Ethereum from 7 days to approximately 45 minutes!

— Shibarium Network (@ShibariumNet) May 29, 2024

Furthermore, the team emphasized that the new system employs a checkpoint mechanism for BONE token exits, as a result, users can now enjoy faster withdrawals. Also, users can now move their BONE tokens rapidly while enjoying a smoother experience within the Shiba Inu ecosystem.

The latest upgrade underscores the teams’ commitment to promoting advancements and ensuring that consumers take part actively in governance.

The post Shiba Inu Burn Rate Surge Exponentially Amid Shibarium Upgrade appeared first on Coinfomania.

Shibarium, the layer 2 blockchain solution designed to enhance the Shiba Inu ecosystem, has achieved a significant feat by drastically reducing the time it takes to bridge to Ethereum. This latest development has sent excitement across the Shiba Inu ecosystem, as it is evidence of the constant and hard work put in by the team.

The Shibarium team made this upgrade in a bid to express their commitment to progress and to ensure that users engage more effectively in governance and drive collective action with newfound efficiency.

Shibarium Slashes Ethereum Bridge Time to 45 Minutes

The Shibarium team took to X (formerly Twitter) to announce the latest development. Excitingly, the team informed users that it has cut down the bridge time from Shibarium to Ethereum from one week (7 days) to 45 minutes.

Get ready for a much faster and smoother experience #SHIBARMY We’ve cut down the bridge time from #Shibarium to Ethereum from 7 days to approximately 45 minutes!

— Shibarium Network (@ShibariumNet) May 29, 2024

Notably, the initial 7-day delay was implemented to encourage a longer stay on the layer 2 solution and to stabilize token prices. However, all that has changed with the latest update, increasing user-friendliness and efficiency.

Furthermore, the announcement highlighted the mechanism for the new system. According to the post, the upgrade operates on a checkpoint mechanism for BONE token withdrawals. As a result, users will enjoy quicker withdrawals initiated after the upgrade. Additionally, this will allow users to move their BONE tokens faster and with greater agility, resulting in a smoother experience in the Shibarium ecosystem.

Consequently, users can now take advantage of new opportunities and react instantly to changes in the market rather than having to wait a week. Additionally, this acceleration significantly enhances the user experience within the Shiba Inu ecosystem and goes beyond a simple technological update. It specifically serves people working on application innovations and time-sensitive financial plans.

Ultimately, they stressed that the enhancement illustrates their commitment to advancement by allowing consumers to participate more actively in governance.

BONE Price Reaction Amid Upgrade News

Meanwhile, the price of BONE, the native token of the Shibarium ecosystem, has not been triggered by the news of the latest development. According to fresh data from CoinGecko, the token is seen to have dropped 6.5% of its value in the last 24 hours. At the time of writing, BONE is changing hands at $0.66.

Source: CoinGecko

What is more, its trading volume over the last day has declined by a notable 24.24% to $9.1 million. BONE has traded between the range of $0.6571 and $0.7148 in the last 24 hours. The possibility of the update affecting the price of the token is yet to be seen, however, investors are closely watching to see what plays out.

The post Shibarium Reduces Ethereum Bridge Time to Less Than an Hour appeared first on Coinfomania.

Ripple Labs Inc. has made clarifications regarding the sale and pricing of its XRP tokens. 

Addressing concerns of price suppression, the company emphasized that it no longer sells XRP tokens over-the-counter (OTC). 

#XRPCommunity #SECGov v. #Ripple #XRP @Ripple has filed a reply letter in further support of its Motion to Seal documents in connection with the @SECGov’s Motion for Judgment and Remedies. pic.twitter.com/NeuFZII1m8

— James K. Filan (@FilanLaw) May 29, 2024

Ripple’s Sales Practices Under Scrutiny

Ripple’s current sales strategy focuses on providing XRP tokens to customers using its On-Demand Liquidity (ODL) product. The company clarified that these sales do not include the terms often associated with OTC contracts, such as discounts to sophisticated investors. This distinction was highlighted in a letter to the court to dispel accusations that Ripple has been manipulating the XRP market by offering discounted tokens to select parties.

Legal analyst Bill Morgan supported Ripple’s position, describing the statement as a decisive rebuttal to claims of market manipulation. According to Morgan, Ripple’s evidence confirms that its ODL sales are conducted without price discounts, contrary to the terms previously found relevant in the court’s decision regarding OTC contracts. 

Thanks James. Ripple points out what by now should be obvious. Sales of XRP to ODL customers do not have any of the terms the Court found relevant in deciding over the counter contracts were investment contracts such as price discounts. Ripple offers no discounts to ODL… https://t.co/3S2jZee03u pic.twitter.com/vruJTuHL2S

— bill morgan (@Belisarius2020) May 29, 2024

Moreover, Morgan emphasized that these ODL sales have a neutral effect on the XRP token price, which has consistently lagged behind Bitcoin and the broader cryptocurrency market.

Confidential Financial Information Controversy

The SEC argues that Ripple’s current financial status is crucial for determining potential remedies for the firm’s past actions. Ripple, however, contends that its financial health is irrelevant to the court’s analysis and insists that disclosing such sensitive information could harm its business operations.

The company’s legal team argued that the SEC’s request lacks justification and that Ripple has never claimed an inability to pay any potential fines or penalties. Ripple is pushing for the court to grant its request to seal confidential financial information, stating that revealing these details could provide undue advantage to future contractual counterparts by exposing the terms of past agreements.

The SEC’s position asserts that Ripple’s historical contracts hold ongoing relevance. Ripple counters this by maintaining that the terms of its contracts are confidential and that the company has altered its sales approach since those contracts were established. The crypto firm noted that the court’s prior ruling determined that XRP is not a security. Therefore, the sales amounts and prices differ from those cited in investment contract cases.

Furthermore, Ripple’s response emphasizes that the SEC’s argument does not provide a solid basis for forcing the disclosure of sensitive financial documents. The firm argues that its past contracts are no longer pertinent due to changes in its sales practices, which now focus solely on ODL transactions without the discount terms previously associated with OTC deals.

Legal Proceedings and Future Implications

In its latest submission to Judge Analisa Torres, Ripple seeks to clarify and counter the SEC’s recent motions. The company reiterates that many of the SEC’s arguments were already addressed in its initial filings. Ripple’s legal team stresses the importance of protecting its confidential financial data, arguing that the court should not compel the disclosure based on unsubstantiated claims by the SEC.

The post Ripple Defends Confidentiality and Sales Practices in SEC Court Case appeared first on Coinfomania.

The cryptocurrency market is experiencing a downturn today, with major coins like Bitcoin (-1.13%), Ethereum (-2%), Binance Coin (-1%), Solana (-2.1%), and Dogecoin (-3%) all in the red. This trend continues despite the market staying range-bound in recent weeks, with no significant news to drive prices. 

Amidst this bearish sentiment, now is the perfect time to consider diversifying your portfolio with 5thScape coin. As the market dips, 5thScape presents a unique buying opportunity, offering stability and potential growth that stands out in today’s volatile environment.

5thScape Price Predicted to reach $1 by 2025

 >>Click here to visit 5thScape Presale Page 

While hundreds of crypto tokens dominate the news headlines every day, a project that is standing out currently is 5thScape. It has stolen the limelight from even the top crypto tokens like FIL.

The 5thScape platform is a VR-integrated immersive entertainment hub boasting a vast library of VR content, such as VR movies, games, and learning experiences that make upskilling more fun. This premier destination comes across as a one-stop shop for all your VR needs, making people ditch their OTT platforms and gaming consoles for a single hub. You only need a VR headset to dive into 5thScape’s immersive entertainment space. 

5SCAPE, the 5thScape platform’s native token, is an access key to the platform’s mesmerizing VR experiences. As a 5SCAPE token holder, you can indulge in any VR escapade present within the 5thScape platform—whether it is your favorite movie or an action-packed MMA Cage Fighter game like the Cage of Conquest, which recently launched on MetaQuest. 

Since virtual reality technology is experiencing explosive growth, with millions projected to adopt VR in the coming years, 5thScape is perfectly positioned to cater to this enthusiastic new generation. 

By establishing itself early in the VR entertainment landscape, 5thScape gains a significant head start in attracting users and developers. 

With rising demand for VR experiences in the coming years, the value of the 5SCAPE token is likely to soar along with the platform’s popularity.

Filecoin vs. 5thScape: A Battle for the Future?

Filecoin’s recent price dip raises questions about its momentum. While the project holds undeniable potential to disrupt the cloud storage industry, its large market cap doesn’t guarantee smooth sailing. Several factors could hamper user adoption. Switching from well-known cloud service providers like Google or Dropbox to a decentralized storage solution can be daunting for some users. Issues about security, privacy, and a lack of familiarity with the technology could slow down Filecoin’s growth.

Meanwhile, 5thScape is creating a unique space in the growing VR landscape. It is more than just another crypto project vying for attention – it is a gateway to a transformative VR world. 5thScape offers a compelling vision for the future, with its comprehensive library.

VR technology is experiencing a boom, with millions expected to adopt it in the coming years. 5thScape’s early entry into this market positions it perfectly to capture this enthusiastic user base.

By establishing itself as a leader in VR entertainment, 5thScape gains a significant head start in attracting users and developers, solidifying its position in the VR landscape.

5thScape eliminates the need to manage multiple subscriptions and platforms, offering a unified VR library that caters to diverse needs. While entertainment is at its core, 5thScape extends its potential to education, business, and social interaction, creating a versatile and valuable platform. 

The 5SCAPE token fuels this immersive experience. Owning 5SCAPE grants you access to the platform’s ever-expanding library and the potential for growth as the platform gains traction. The rising demand for VR experiences, alongside 5thScape’s popularity, is likely to drive up the value of the 5SCAPE token. Its focus on future-proof technology, well-timed entry into a booming market, and comprehensive platform makes it an exciting prospect for investors and VR enthusiasts alike.

While Filecoin possesses immense potential, its path to success may be challenging. 5thScape is riding a wave of growing user demand and technological adoption. Its impressive presale success of $6.1 million suggests strong investor confidence, potentially leading to a robust launch when the 5SCAPE token hits exchanges.

The future of technology is becoming increasingly immersive, and both Filecoin and 5thScape offer intriguing possibilities. While Filecoin is looking into changing cloud storage solutions, 5thScape transforms how we consume our entertainment content.  Will you bet on the potential disruption of the cloud storage industry or the immersive possibilities of VR entertainment and beyond? 

The post Why is market down today? Is it the time to buy 5SCAPE for 10x?   appeared first on Coinfomania.

The crypto industry is buzzing with the recent approval of spot Bitcoin ETFs by the Securities and Exchange Commission (SEC) in the United States. This marks a positive shift, letting investors invest in BTC through a regulated investment vehicle like a stock or bond ETF. 

However, the regulatory landscape for crypto tokens in the US is still under development. While spot Ethereum ETFs recently got the green light for exchange listings by the SEC, individual ETF issuers still need approval for their specific products. This means a wait before Ethereum ETFs start trading. Investors are also looking into the possibility of the ETH token’s price rise ever since its ETF has received a nod from the SEC.

In this article, we will discuss spot ETFs of ETH, ETH price prediction with current market conditions, and the hottest project in the market currently making the rounds of the internet: 5thScape.

The ETF Revolution: Is Crypto Finally Going Mainstream?

The United States SEC approved the first-ever spot BTC ETFs in January 2023, an important milestone for the crypto industry. 

BlackRock, a large company in the financial world, has shown positive interest in the crypto space. CEO Larry Fink acknowledged the growing investor demand for crypto exposure in late 2023. After the launch of their own Bitcoin ETF in 2024, Fink even hinted that this might be just the beginning. He sees the future in tokenization, suggesting BlackRock might be exploring ways to offer ETFs for a wider range of digital assets beyond BTC and ETH.

This focus on tokenization aligns with the recent SEC approval for spot Ethereum ETFs, creating a more crypto-friendly future in regular finance. 

More recently, in May 2024, the SEC gave the green light for exchange listings of spot Ethereum ETFs. However, individual ETF applications from issuers like BlackRock and VanEck still require approval.

To summarize the overall trends, these developments suggest a more open stance by the SEC towards regulated crypto investment products. This could create a space for wider ETF availability in the future.

Ethereum’s Price Takeoff: Short-Term Surge and Long-Term Ascent

The long-awaited arrival of spot ETFs for ETH has created a splash of bullish predictions. Experts are predicting a price growth for this world’s second-largest crypto token, with both short-term and long-term potential.

Short-Term Boost: Echoes of Bitcoin’s Rise

The memory of BTC’s price growth after its ETF approval creates positivity for Ethereum. Experts predict a similar performance, ranging from a robust 60% jump to a massive 75% increase. This translates to a potential price range of $6,400 to $7,000, with the possibility of crossing the $8,000 mark by the end of 2024.

Long-Term Trajectory: Beyond the Short-Term Spike

The excitement extends beyond the immediate future. Analysts envision a sustained upward trajectory for Ethereum’s price. Standard Chartered predicts $45 billion of investment into ETFs within the first year, acting as a continuous price catalyst. This institutional investment will solidify Ethereum’s trust and enhance its liquidity, further boosting its long-term growth.

Reaching New Heights: Long-Term Price Targets

The bullish sentiment goes beyond just overtaking the short-term growth. Several experts predict ETH reaching a much higher price point in the long term. Some predict it hitting a milestone of $10,000 at the highest mark of the current cycle. This price increase is credited to factors like increased investor confidence due to easier access through ETFs and the growing utility of the network itself.

A Glimpse into the Distant Future: Unprecedented Potential

The most optimistic forecasts paint an even more enticing picture. Some analysts analyzing historical trends believe Ethereum could not only reach $10,000 this year but potentially even surpass it, reaching as high as $17,000-$20,000 during the next major bull cycle. This ambitious prediction highlights the immense potential many believe Ethereum holds in the long run.

While the Crypto Market Focuses on Established Players, 5thScape Waves in the Presale Market

After the SEC’s nod for pot ETFs, the crypto market is buzzing with predictions for Bitcoin and Ethereum price movements. However, a new project, 5thScape, is in the headlines for its success in the presale stage.

>>Click here to visit 5thScape Presale Page 

5thScape, a newcomer to the market, has already secured over $6.1 million in its presale. This significant achievement demonstrates strong investor interest in the project’s vision of building the future of entertainment with a VR world.  

The appeal of 5thScape appears to be twofold, attracting established investors and entertainment enthusiasts. This dual interest bodes well for the project’s ability to generate long-term support and growth. 

Unplug, Unleash: Dive into Endless Possibilities with the 5thScape VR Platform

5thScape is not just limited to a VR headset; it is a portal to boundless realities. This innovative platform is a comprehensive hub overflowing with immersive content designed to take you out of the physical world’s limitations. 

Step into a library unlike any other – a virtual haven overflowing with VR movies, thrilling games, and even educational experiences that allow you to upskill yourself in an entirely new format. 5thScape lets you truly experience the content, not just observe it. With this level of immersion, you will feel like you are part of the action.

The adventure never ends at 5thScape. The dedicated team is constantly adding fresh content, ensuring you always have a new virtual escapade waiting to be discovered. So, whether you crave heart-pounding games, movies, or a chance to learn something new completely immersively, 5thScape offers a limitless playground for your curiosity. 

5thScape: Your Gateway to Limitless VR Experiences Fueled by the 5SCAPE Token

5thScape is not just a VR platform; it is a growing ecosystem powered by its native crypto token, 5SCAPE. This digital key unlocks the vast experiences within the 5thScape VR library.

5thScape offers a world where a single token grants you access to a universe of VR entertainment.  Every thrilling game, mind-blowing movie, and immersive educational experience within the platform requires 5SCAPE tokens to unlock and indulge in. It is your essential companion for exploring the unlimited possibilities of 5thScape.

In-game purchases within VR games also use the 5SCAPE token, allowing you to customize and enhance your virtual adventures further.  

Think of the 5SCAPE token as your VIP pass to the adventurous world of 5thScape. Currently, in its presale stage, this token has received the attention of investors due to their keen understanding of the VR market’s explosive growth. The US’s user base for VR technology alone is projected to grow 104% in the next four years. Think about the global audience this represents!

As VR’s user base increases, 5thScape will become a magnet for users. Its set of VR experiences, along with its first-mover advantage, may propel 5thScape to unimaginable growth. This combination of factors makes the 5SCAPE token a highly compelling investment opportunity for those seeking to profit from the future of virtual reality entertainment. 

Navigating the Investment Landscape: Ethereum ETFs, Ethereum, or 5thScape?

The recent approval of spot ETFs for Ethereum has created an exciting gateway for investors. But with the rise of innovative projects like 5thScape, the landscape offers even more possibilities! 

Established Powerhouse: Ethereum

Ethereum has a strong history, solidifying its position as the world’s second-largest crypto token. This translates to better stability and broader adoption compared to newer ventures.

Emerging Gateway: Ethereum Spot ETFs

Spot ETFs provide a regulated and potentially less volatile way to tap into Ethereum’s price movements. This is ideal for investors who are new to the cryptocurrency realm or prefer a traditional investment approach.

Disruptive Innovation: 5thScape

5thScape offers a unique chance to invest in the booming VR market. Its native token, 5SCAPE, fuels the platform’s ecosystem, granting access to a vast library of VR content. With VR adoption poised for a surge, 5thScape is positioned for significant growth. The current presale stage presents an opportunity to get in early on a promising project with immense potential.

The Choice Awaits

The decision ultimately depends on your investment goals. Look into 5thScape, especially if you believe in the future of VR entertainment. Its lucrative presale pricing is attracting thousands of investors every day, and this could be the perfect chance for you to jump into the VR crypto trend.

The post Ethereum Price Prediction Post-SEC ETF Approval – Will 5thscape Step Up? appeared first on Coinfomania.

Leading memecoins Dogecoin, Shiba Inu, and PEPE have experienced a significant price crash following a global memecoin market slump. This development came barely 24 hours after the asset category saw a rally. The sharp rise and fall of these assets underscores their highly volatile nature and is a reminder to investors always to tread cautiously.

Over the last day, the prices of the aforementioned tokens have slumped by 4%, 6%, and 12% respectively. In hindsight, Shiba Inu and PEPE have performed well within the last 7 days. In the case of SHIB, the token saw a surge about 24 hours ago that made it flip Cardano (ADA) to enter the top 10 largest cryptocurrencies by market cap list. However, at the time of writing, the current dip has pushed it back to the 11th position.

For PEPE, the frog-faced memecoin surpassed expectations after it rose to its all-time high of $0.00001717 on May 27, which means that its current price is down by 22.6% from that high.

However, the case of Dogecoin (DOGE) seems to differ. The token has seen a significant drop in demand over the last week. According to CoinMarketCap data, DOGE has declined by 3.5% in the last 7 days. What is more, additional data from IntoTheBlock shows that the total number of daily addresses involved in DOGE transactions has crashed by 18% within the recorded time.

Source: CoinMarketCap

Furthermore, the data reveals that demand from new investors, as portrayed in the number of new addresses created to trade DOGE, has also decreased by a significant 21% during the last week. Consequently, its trading volume has dropped by 11.79% signifying reduced activities surrounding the token.

Broader Memecoin Market Reaction

Meanwhile, the broader memecoin market is also experiencing a bloodbath as the majority of tokens are trading in the red zone. Dogwifhat (WIF) for example, has dipped by 11.33% over the last 24 hours to trade at $3.45. WIF has traded between the lows and highs of $3.37 and $3.93 within the recorded time.

Floki (FLOKI), a Shiba Inu-inspired memecoin, has also dropped by 14.17% over the last day to trade at $0.000246. Additionally, FLOKI has traded between the lows and highs of $0.0002408 and $0.0002859 in the last 24 hours.

Bonk (BONK) has lost 18.05% of its value and currently trading at $0.00003354. The trending MAGA (TRUMP) token has declined by 10.49% to trade at $12.94. While some might panic at the current state of the memecoin market, other investors see it as an opportunity to buy the dip. While investing, it is important to remember that memecoins are hype-related assets and can rise and fall quickly.

The post Dogecoin, Shiba Inu, and PEPE Crashes Amid Memecoin Market Slump appeared first on Coinfomania.

In the developing world of crypto gaming, four giants—5thscape, Gala Games, Decentraland (MANA), and ApeCoin (APE)—are redefining the boundaries of virtual experiences. As these platforms blend cutting-edge blockchain technology with immersive gaming, they not only offer novel entertainment but also present new economic opportunities for gamers.

Each platform, with its unique approach to integrating cryptocurrencies and NFTs, has carved out a significant niche within the industry. This article delves into how 5thscape’s innovative ecosystems, Gala’s expansive game development, MANA’s virtual real estate, and APE’s community-driven initiatives are setting the standards for the future of gaming and creating robust digital economies.

5thScape (5SCAPE): Future of Immersive VR-Driven Cryptocurrency

Let us introduce you to this innovative virtual platform, 5thScape. It is a leading venture redefining the concept of entertainment through its novel VR experiences. The project opens up uncharted areas of immersive technologies unlike you have seen before. Offering an array of fun-filled activities, from virtual movie nights to enthralling games, 5thScape transfigures the way we interact with digital content.

Moreover, the realm of fantasies goes beyond entertainment by altering dull and dusty learning sessions into interactive adventures. Developers are in a frenzy to add new updates and fresh content to their virtual library, keeping the community hooked to the platform. 5thScape has recently launched its first gaming title – Cage Conquest – a MMA-inspired fighter game. The ecosystem has drawn widespread interest and has collected a breakthrough $6.3 million in fundraising. This success signals 5thScape’s significant potential and investor confidence.

>>Click here to visit 5thScape Presale Page 

Gala Games (GALA): Revolutionizing Digital Ownership In Decentralized Environment

Gala Games is a play-to-earn platform known for its decentralized ecosystem where users can have autonomy over their gaming experiences. Players can create and trade new NFTs using GALA tokens, its native currency. The project has launched the CraneBot, taking the internet by storm. GALA empowers top awardees to partake in the governance of the crypto token to influence development and content generation in the landscape. No gas or subscription charges are involved in playing games in the Gala ecosystem, but the Ethereum blockchain may levy gas fees for digital transactions. GALA tokens are given to reward node operators and players in the ecosystem. Gala prices show bullish momentum after suffering a downtrend after the token attack last week. Currently priced at $0.04, this token has demonstrated remarkable growth and can be a good investment option in 2024.

Decentraland (MANA): The Real Estate Metaverse Explored

Decentraland is a world of imagination; it operates its own metaverse powered by the ETH blockchain. The metaverse empowers MANA, its digital currency, for all transactions within its virtual boundaries. Token holders can explore the online space and create NFT avatars. They can also purchase in-game accessories, outfits, and more for their avatars. Investors also have the opportunity to buy virtual land, similar to real estate in the physical world. Everything in this digital landscape can be monetized. It is a great investment opportunity for those who admire innovation.

ApeCoin (APE): Prominent Metaverse Coin In Digital Universe

ApeCoin is one of the popular metaverse coins in the crypto-verse. To support the famous Bored Ape Yacht Club, the most successful non-fungible token (NFT) art collection, ApeCoin came into being. The NFT monkey art collections have witnessed unbelievable success and are priced at over $1 million in the market. ApeCoin is an Ethereum-based crypto coin that allows token holders to purchase land parcels named Otherdeed. The primary purpose of ApeCoin is to support governance and voting matters and facilitate as the primary means of exchange within the Ape-verse.

Future Of Crypto Gaming

The titans of gaming cryptocurrency have explored the untouched realms of the metaverse to elaborate their scope and offer innovative investment options to stakeholders. Cryptocurrency gaming is booming; these coins are taking the digital world by storm.

Predictions:

The VR industry is on the verge of exploding and creating a buzz-worthy appeal in the crypto space. Financial analysts believe the VR sector will surge by 104% by the end of this decade. Platforms like 5thScape, Decentraland, ApeCoin, and Gala are taking charge in this innovative and uncharted environment. 5thScape’s virtual gaming and content hub will attract investors worldwide, while MANA tokens will make waves in the virtual estate industry. Gala games and ApeCoin might be struggling to rise but have great prospects in the future of the gaming industry.

Market Trends:

Various types of online crypto games hit the net every day. AR and VR gaming have created hype in the digital universe. Innovative blockchain architecture and enhanced security measures enable seamless transactions inside the ecosystems. Emerging VR trends in various sectors like academics, entertainment, and healthcare dominate the market and poise these coins for substantial gains in 2024.

Growth Prospects:

Developments in the crypto virtual economy benefit investors, gamers, and developers alike. Crypto tokens are awarded to those players having enthralling gaming experience. Tokens can also be used to make purchases within the gaming ecosystem. Accessories and gaming avatars enhance player experience and throughput. 5thScape enables investors to enjoy high-quality VR games and monetize funds as they access the content on the platform. Fostering a strong community, these gaming cryptos will multiply your investments 100x.

Metaverse Coins Exploding The Crypto Economy

Metaverse coins are underpinning the digital economy of cryptocurrencies in the world of 3D virtual realities. The concept of digitization is gaining popularity, and blockchain-backed projects are at the helm. The notion of the virtual world is rapidly materializing with crypto metaverses. Tapping into these unrevealed terrains, investors can possess in-game goodies, indulge in gaming activities, expand their province, trade virtual lands, and much more. Users can partake in a myriad of thrilling activities and earn passively through these landscapes. While cryptos like 5thScape are considered alluring investment opportunities, investors should carefully investigate their fundamentals before putting their hard-earned money into crypto gaming.

The post Transforming Gaming: Why 5thScape, GALA, MANA, And APE Are Titans Of Crypto Gaming appeared first on Coinfomania.

ETFSwap (ETFS), a pioneering tokenized blockchain platform, is gaining momentum with its innovative presale, outpacing competitors like 5thScape (SCAPE) and Retik Finance (RETIK). By enabling users to swap crypto assets for a diverse array of ETFs, including leveraged, commodity, fixed-income, and popular cryptocurrency spot and futures ETFs, ETFSwap offers unparalleled trading opportunities.

The platform has also enhanced its security with optimized privacy protocols, leveraging blockchain technology for transparency and accountability. ETFSwap has eliminated KYC verification, emphasizing a seamless and user-centric trading experience. As the presale continues, ETFSwap’s advanced utility and forward-thinking approach position it as a leader in the evolving crypto landscape.

What is 5thScape?

In the domain of cutting-edge innovation, 5thScape (5SCAPE) emerges as a pioneer, blending Virtual Reality (VR), Augmented Reality (AR), Artificial Intelligence (AI), Internet of Things (IoT), and blockchain technology to craft immersive gaming experiences of unprecedented sophistication. It transcends conventional paradigms, offering users seamless interactions and lifelike environments for exploration.

>>Click here to visit 5thScape Presale Page  Unique Features and Value Proposition

Immersive VR/AR Experiences: 5thScape ventures into uncharted territory with the development of its VR Ultra Headset. This promises precision motion tracking, high-resolution visuals, and intuitive controls, inviting users into limitless possibilities.

Integration of Advanced Technologies: The amalgamation of AI and IoT within 5thScape’s framework animates virtual landscapes, fostering dynamic interactions and facilitating the seamless integration of physical and virtual realms.

Blockchain Technology: Anchored in the robustness of blockchain technology, 5thScape ensures fortified security, establishes ownership rights, and nurtures decentralized governance. It heralds a new era of secure transactions, decentralized asset ownership, and the inception of virtual economies within its digital domains.

5SCAPE Token: At the core of 5thScape’s ecosystem lies the 5SCAPE token, serving as the cornerstone of the platform. This versatile token powers transactions within games, facilitates purchases of 5thScape hardware and games and acts as a catalyst for economic exchange.

Beyond gaming, 5thScape extends its influence into diverse sectors such as education, healthcare, and enterprise. The visionary whitepaper envisions scenarios ranging from immersive learning experiences to lifelike medical simulations, hinting at the boundless potential awaiting exploration.

What is Retik Finance?

Retik Finance emerges as a frontrunner in decentralized finance (DeFi). Armed with various financial instruments, including DeFi debit cards, intelligent payment gateways, P2P lending, and fortified wallets, Retik Finance emerges as a beacon illuminating the path toward a digital financial revolution. With a staggering market capitalization nearing $3 billion, RETIK captures the attention of investors and enthusiasts, positioning itself as a formidable force within the expanding DeFi landscape.

Unique Features and Value Proposition

Retik Finance introduces a suite of groundbreaking features and innovations poised to revolutionize the decentralized finance (DeFi) sphere:

Futuristic DeFi Debit Cards: Retik Finance pioneers DeFi debit cards engineered for anonymity in a leap toward user-centric privacy, obviating the need for cumbersome Know Your Customer (KYC) procedures. These cards promise benefits like global accessibility, ATM access, security, and a robust rewards program.

Smart Crypto Payment Gateway: Businesses are empowered with Retik Finance’s smart crypto payment gateway, facilitating seamless acceptance of cryptocurrencies. This feature broadens payment horizons for customers, enriching their transactional experience with diversified payment options.

AI-Powered P2P Lending: Leveraging cutting-edge AI algorithms, Retik Finance orchestrates a seamless matchmaking process between borrowers and lenders. This AI-powered P2P lending mechanism streamlines the lending process, fostering efficient capital allocation within the DeFi ecosystem.

Multi-Chain Non-Custodial Highly Secured DeFi Wallet: Catering to the diverse needs of users, Retik Finance’s non-custodial DeFi wallet supports a spectrum of cryptocurrencies. Armed with advanced security protocols, this wallet safeguards user funds, ensuring uncompromised security in an increasingly digitized financial landscape.

Retik Finance’s visionary strides and strategic market positioning have propelled it to the forefront of the dynamic cryptocurrency arena. With an unwavering commitment to innovation and user-centricity, Retik Finance is poised to wield a profound influence across the multifaceted realms of DeFi, reshaping the contours of the financial landscape for generations to come.

Which Amongst 5thScape or Retik Finance Threatens ETFSwap More?

When assessing the potential threat posed by 5thScape (SCAPE) and Retik Finance to ETFSwap, it’s evident that 5thScape presents a more significant challenge. 5thScape’s groundbreaking fusion potentially diverts attention from conventional platforms like ETFSwap. 

Its creation of a hyper-realistic 3D VR ecosystem, supported by the 5SCAPE token, offers an enticing value proposition that surpasses traditional DeFi offerings. Additionally, 5thScape’s strategic roadmap and ambitions for proprietary VR hardware and extensive gaming suite position it favorably for exponential growth and evolution.

In contrast, while Retik Finance brings competitive advantages and market positioning, its impact on ETFSwap appears less substantial compared to 5thScape. Despite its efforts to attract users and capitalize on DeFi trends, Retik Finance lacks the groundbreaking innovation synonymous with 5thScape. Its diverse array of financial services falls short of delivering the immersive experiences and inventive financial products offered by 5thScape. 

Therefore, regarding reshaping the DeFi landscape and challenging established platforms like ETFSwap, 5thScape poses a more imminent threat due to its unparalleled innovation and growth potential.

5thScape’s Potential to Capture Market Share and Drive Adoption

Amidst the burgeoning Virtual Reality (VR) and Augmented Reality (AR) market, 5thScape emerges as a promising contender poised to seize a significant market share and foster widespread adoption. With the VR industry currently valued at $67.66 billion and projected to soar to $204.35 billion by 2029, 5thScape stands at the forefront of a rapidly expanding market ripe with opportunities for growth and innovation.

Investing in 5thScape presents investors with the potential for substantial returns on investment. Analysts foresee 5thScape as a resilient investment opportunity, with early investors projected to realize returns of up to 600x by 2025. This enticing prospect of high returns is likely to attract investors to 5thScape, bolstering its market share and solidifying its position within the VR/AR landscape.

Moreover, 5thScape offers users many earning opportunities, further enhancing its appeal and driving user engagement. Through staking $5SCAPE tokens, users can unlock rewards and gain access to a diverse array of utility-rich features, fostering a mutually beneficial ecosystem. 

Final Thoughts On 5thScape (5SCAPE) or Retik Finance: Which Threatens ETFSwap More?

5thScape emerges as a formidable competitor to ETFSwap, with its innovative fusion of VR/AR technology and blockchain solutions poised to disrupt the traditional DeFi landscape. Its unique strengths, including cutting-edge technology, user-centric design, and the power of the 5SCAPE token, position it as a frontrunner in the rapidly evolving VR/AR crypto domain. With its potential to capture market share, drive adoption, and offer lucrative earning opportunities, 5thScape presents a compelling investment opportunity for those looking to venture into the dynamic realms of virtual reality and decentralized finance.

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OCEAN Mining Pool has officially announced the establishment of its global headquarters in San Salvador, El Salvador. 

According to a press release, this move is led by co-founders Jack Dorsey and Bitcoin Core developer Luke Dashjr. The decision aligns with the company’s goal to enhance the decentralization of Bitcoin mining worldwide. Luke Dashjr, OCEAN’s CTO, expressed that El Salvador’s proactive stance on Bitcoin adoption makes it an ideal location for advancing their efforts.

Bitcoin Country, here we come! We are thrilled to announce that OCEAN has expanded into El Salvador . OCEAN MINING S.A. de C.V. will serve as our global hub of business development as we continue to bring features to market that push the envelope of decentralization in… pic.twitter.com/USyB08LOgj

— OCEAN (@ocean_mining) May 29, 2024

OCEAN’s President, Mark Artymko, pointed out El Salvador’s choice, citing the country’s welcoming political stance on Bitcoin. Unlike regions such as Venezuela and the European Union, where legislation to ban Bitcoin mining has been enacted, El Salvador offers a supportive environment. This contrast played a crucial role in OCEAN’s decision to establish its headquarters in the capital city of San Salvador.

El Salvador’s Role in Bitcoin Adoption

El Salvador has embraced Bitcoin, making it a legal tender in 2021. This bold move has earned the title “Bitcoin Country.” Establishing OCEAN’s headquarters in El Salvador underscores the nation’s commitment to Bitcoin and its emerging role as a hub for innovation. Stacy Herbert from El Salvador’s Bitcoin Office welcomed OCEAN’s decision, emphasizing that the Bitcoin-first culture built in El Salvador provides entrepreneurs with the tools to thrive in a Bitcoin economy.

The country’s commitment to Bitcoin and government support have made it an attractive destination for Bitcoin-focused enterprises. The collaboration between OCEAN and El Salvador aims to create new opportunities and further Bitcoin adoption locally and globally.

OCEAN’s Global Head of Sales, Bitcoin Mechanic, highlighted the company’s dedication to decentralization. Implementing Stratum V2 is a step towards reducing the concentration of power among a few mining pools, bringing miners of all sizes closer to Bitcoin’s core. By establishing its global hub in El Salvador, OCEAN aims to ensure maximum reach and adoption of these features in a favorable regulatory environment.

OCEAN is a non-custodial, transparent, and permissionless mining pool. The company is committed to advancing the decentralization of Bitcoin mining and empowering miners globally. Their move to El Salvador is a strategic step in this direction, leveraging the country’s supportive stance on Bitcoin.

Support for Local Bitcoin Communities

OCEAN plans to contribute to the education and development of Bitcoin communities within El Salvador. This includes supporting initiatives like “Bitcoin Beach” at El Zonte, which has developed a local Bitcoin-based economy. OCEAN’s presence in the country aims to foster similar initiatives and promote the growth of Bitcoin communities.

The company also looks forward to providing resources to continue developing Bitcoin communities in El Salvador. By investing in local education and development, OCEAN hopes to support the organic growth of circular economies based on Bitcoin.

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The Texas State Securities Board has officially issued a cease and desist order to Arkbit Capital, citing engagement in fraudulent cryptocurrency cloud mining operations.

The directive, led by Financial Examiner Alexis Cantrell, asserts that Arkbit Capital, along with its associated entities, has participated in deceptive tactics. These include the deployment of altered images and videos designed to attract investors to their dubious investment schemes.

Fraudulent Activities and Deceptive Practices Arkbit

Arkbit Capital, along with Arkbit Capital Holdings, ABC Holdings LLC, and ABC Mining, falsely asserted they operated data centers in Arkansas for cloud mining various cryptocurrencies. They enticed investors by promising daily returns of 1.6-2.8% over 120 days for digital asset deposits ranging from $50 to $49,999. To bolster their credibility, Arkbit registered as a business entity with the Arkansas Secretary of State, giving the false impression of legitimacy.

Texas Securities Commissioner Travis J. Iles emphasized the importance of skepticism among investors when approached with lucrative investment opportunities, noting the increasing sophistication of fraudsters.

The order also revealed that Arkbit Capital used CoinPayments.Net, a payment processor, to handle transactions for their investment plans, despite the platform’s policy restricting users from jurisdictions such as the United States. The account holder for Arkbit’s CoinPayments account, Paras Khivesara, was found to be based in Hyderabad, India, not Arkansas.

One particularly deceptive tactic involved a manipulated video purportedly showing Arkbit’s CEO and founder speaking at a cryptocurrency conference in Austin, Texas. The Texas State Securities Board found no evidence that Delmar Estabrook or Arkbit Capital attended the conference.

Joe Rotunda, Director of the Enforcement Division at the Texas State Securities Board, urged the public to remain vigilant and thoroughly research any investment opportunities encountered on social media before parting with their money. 

Broader Trend of Crypto-Related Ponzi Schemes 

This case is part of a broader trend of Ponzi schemes linked to cryptocurrency in the United States. On March 15, the U.S. Securities and Exchange Commission (SEC) charged 17 individuals with orchestrating a $300 million Ponzi scheme through the crypto trading platform CryptoFX.

Registered in Houston in February 2020, CryptoFX had its operations halted by the SEC in September 2022 on suspicion of being a Ponzi scheme. Eighteen months later, the SEC identified and charged the individuals allegedly involved in the scheme.

On March 18, a New York jury convicted two former promoters of IcomTech, a purported crypto mining and trading company, of wire fraud conspiracy. David Brend and Gustavo Rodriguez were found guilty of one count each of conspiracy to commit wire fraud by a jury in a New York District Court, ending a two-week trial.

The fraudulent scheme saw funds being diverted to purchase real estate, fund travel, and host lavish expos and community presentations, where promoters showcased luxury cars and attire to lure more investors with promises of financial freedom.

Most recently, on April 4, Irina Dilkinska, the former head of legal and compliance for the multibillion-dollar OneCoin fraud scheme, was sentenced to four years in prison after admitting her role in laundering millions of dollars. United States District Judge Edgardo Ramos handed down her sentence on April 3, which also included one month of supervised release and a forfeiture order of $111 million as restitution. 

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