Nekodex, a new on-chain crypto exchange from Perpetual Protocol, is now offering spot trading to users, combining several recent Ethereum usability improvements that reduce the complexity associated with buying and selling cryptocurrencies across multiple blockchains.

Nekodex users can sign up in seconds and start trading without needing to understand or worry about installing wallets, managing gas fees, or bridging between chains. The exchange offers a wide range of tokens from various chains, including Ethereum, Optimism, Base and Arbitrum, and lets users buy and sell with a few taps from their smartphones.

Nekodex positions itself as the first on-chain exchange to combine passkey authentication,  account abstraction and chain abstraction, as well as a PWA-based mobile UI. These tools combine to create what the team behind Nekodex are calling “Defi’s iPhone moment”, recalling the iPhone’s innovation combining several existing technologies into a new user experience that ultimately was a hit with a mass audience. 

The result hoped for is a new crypto trading experience that is not only easy to use and intuitive, but also gives the end user custody over their funds while greatly increasing security by using passkeys, a new authentication standard which simplifies password management and ensures the credentials can only be used with the correct website. This leads to greatly enhanced security of users’ private keys, preventing loss, phishing attacks and the plethora of social engineering scams that plague the crypto industry.

Nekodex is also Perpetual Protocol’s first foray into the spot trading market. The perpetual futures trading for which the team is originally known will return in a future version, expected to launch in the coming months.

For more information about Nekodex, please visit:

Website: https://nekodex.org/

Twitter (X): https://x.com/Nekodex_app

Discord: https://discord.perp.com/

Telegram: https://t.me/perpetualprotocol

Disclaimer: TheNewsCrypto does not endorse any content on this page. The content depicted in this press release does not represent any investment advice. TheNewsCrypto recommend our readers to make decisions based on their own research. TheNewsCrypto is not accountable for any damage or loss related to content, products, or services stated in this press release.

Brisbane, Australia, August 7th, 2024, Chainwire

Australian gemstone company NYBlue Pty Ltd has emerged as a key player working to redefine the global gemstone market. The company’s strategic venture involves a plan to secure control over the world’s blue zircon supply, a move that holds the potential to reshape the value dynamics of the global gemstone market. 

Previously this month, the company released its whitepaper, detailing its current pre-sale and subsequent public float of its ‘real world asset’ cryptocurrency, following its announcement of holdings of more than one million carats of the rare gemstone.

NYBlue’s primary strategy lies in systematically increasing its current holdings, to continue acquiring all available Cambodian blue zircons, establishing control over the supply chain and potentially influencing the future value of these precious stones.

Earlier today company representatives were interviewed on CryptoBanters’ Town Hall podcast, to announce the launch of their RWA token pre-sale which has garnered considerable interest from the crypto community since being announced earlier this year.

A video released by NYBlue questions rhetorically “What would be a more appropriate display of affection, for your significant other; a piece of compressed, common, carbon, or instead something more ancient than Earth, exceedingly rare, and twice as brilliant as diamond? 

NYBlue majority shareholder, Mitch Brownlie has stated “We believe that Cambodian blue zircon deserves recognition as one of the most extraordinary, underappreciated and undervalued gemstones on the market” 

The Australian company NYBlue; is financed by Australian AgTech founder & former political advisor; Mitch Brownlie, who has recently discussed the project on various podcasts; often comparing the NYBlue project with a previous gemstone rally; when the African gemstone ‘tanzanite’ surged from obscurity, to reach parity with Diamond. 

Tanzanite Spot Price – An inspiration for NYBlue.

NYBlue draws inspiration from the historical trajectory of the tanzanite market, where prices experienced a tenfold increase over three years. The company anticipates a similar trajectory for zircons, aligning its strategy with past successes to project a potential surge in value. 

NYBlue, has previously announced its plan to launch its gemstone-backed cryptocurrency codenamed ZIRC where each token is fully backed by and redeemable for a 1-carat blue zircon gemstone. This approach allows consumers to benefit from the rise of blue zircon without the risks of volatility associated with traditional cryptocurrencies. Owners of Zirc tokens will have the option to redeem their cryptocurrency for gemstones at any time, ensuring a stable, arbitrage-enforced peg between the two assets. 

NYBlue aims to acquire the majority of globally available gem-quality blue zircons, effectively positioning itself as a dominant force in the market. This approach is designed to exert influence over the supply chain, creating a ripple effect on the market value of blue zircons across the industry.

NYBlue’s strategic initiative is not a short-term play; it is an ambitious endgame to secure a controlling stake in the multi-billion-dollar gemstone market. With a collection of gemstones valued at around $300m, NYBlue aspires to redefine the gemstone narrative on a global scale. This venture positions the company as a significant player, with the potential to impact the industry’s landscape for years to come.

In their quest for dominance in the gemstone market, NYBlue has announced a new and highly disruptive initiative; the launch of a blockchain-backed cryptocurrency named ZIRC, with each unit of the blockchain being fully backed by; and redeemable for a 1 carat blue zircon gemstone. This innovative approach allows individuals to participate in the potential rally of blue zircon values, by offering exposure to the underlying commodity without the inherent risks associated with traditional highly volatile cryptocurrencies.

Buyers have the option to redeem their ZIRC tokens for actual gemstones at any time, effectively eliminating the possibility of the token’s value dropping below the market price of the gemstone itself, providing consumers with a tangible and secure asset. This strategic integration of blockchain technology not only enhances transparency and security but also democratises access to the exclusive world of the international gemstone trade.

NYBlue’s PreSale is now live on Zir.co.nz

About Zirc

Zirc offers a cryptocurrency fully backed by blue zircon gemstones. Each ZIRC token is redeemable for a 1-carat blue zircon, providing a stable and tangible asset. The platform aims to integrate blockchain technology to enhance transparency and security, making it accessible for individuals to participate in the gemstone market without the risks associated with traditional cryptocurrencies. Zirc’s approach democratizes access to blue zircons and offers a unique investment opportunity backed by real-world assets.

Contact

DirectorMitch BrownlieNYBlue Pty Ltdredeem@nyblue.com

Trust Wallet, the world’s leading self-custody Web3 wallet and Web3 gateway trusted by over 130 million users, has launched Trust Wallet Quests, a task-oriented Quest platform within the Trust Wallet mobile app which encourages users to earn points while learning about Web3 and interacting with Trust Wallet features.

Users can engage in missions, which are task-based challenges ranging from quizzes to complex problem-solving scenarios composed of various DeFi and Web3 activities, all designed to deepen their understanding of blockchain technology and dApps. As an incentive, users will earn Trust Points, a loyalty-based points system designed to reward user activity within the Trust Wallet mobile app. With Trust Points, users can earn rewards upon the completion of specific tasks, making Web3 more rewarding and fun.

In the future, users can utilise their Trust Points for other gamification purposes, such as unlocking achievements, badges, or levels. This interactive approach not only boosts individual learning but also contributes to broader community education and adoption of decentralized technologies, making Trust Wallet Quests a dynamic and exciting way to reward loyal users and engage with communities in Web3.

On the motive for launching Trust Points and Trust Wallet Quests, Eowyn Chen, CEO of Trust Wallet said: “We see this as a great way to care for and empower our active and loyal community under the true collaborative spirit of Web3. As we grow, we are committed to sharing the benefits of our success with our users and community.”

Nate Zou, Head of Product at Trust Wallet, highlighted what to expect from Trust Points and Trust Wallet Quests: “Within 2024, we have plans to build on this, combining rewards with many of our other web3 product offerings. Overall, we envision this points system not only changing how users engage with Trust Wallet, but also encouraging more collaboration between Trust Wallet, our users and other web3 ecosystem players.”

The introduction of Quests on Trust Wallet further solidifies the company’s mission to build a seamless and accessible Web3 hub and open ecosystem for all. Trust Wallet Quests and Trust Points are now available on both Android and iOS versions of Trust Wallet’s mobile app. Download here: https://short.trustwallet.com/TrustWalletQuests.

About Trust Wallet

Trust Wallet is the secure, self-custody Web3 wallet and gateway for people who want to fully own, control, and leverage the power of their digital assets. From beginners to experienced users, Trust Wallet makes it easier, safer, and convenient for millions of people around the world to experience Web3, access dApps securely, store and manage their crypto and NFTs, as well as buy, sell, and stake crypto to earn rewards — all in one place and without limits.

With support for 10+ million digital assets across 120+ blockchains, more than 1 million supported swap pairs, and native staking options on 20+ chains, Trust Wallet is a true multi-chain wallet, enabling users to access the Web3 world safely and conveniently.

Since 2017, Trust Wallet’s mission has been to simplify and democratize crypto, ensuring accessibility for everyone. By building the foundations for the future of the free web, Trust Wallet aims to give everyone the freedom to truly own their digital assets.

For media enquiries, contact: press@trustwallet.com

About Trust Wallet Quests

Trust Wallet Quests are a fun and gamified way to learn about blockchain technology and decentralized applications (dApps), making Web3 more approachable. As you engage in task-based challenges (Quests), you earn Trust Points, which can be redeemed for various rewards, adding an extra layer of excitement to the learning process. Learn more here: https://trustwallet.com/blog/trust-wallet-quests-faq

Disclaimer: TheNewsCrypto does not endorse any content on this page. The content depicted in this press release does not represent any investment advice. TheNewsCrypto recommend our readers to make decisions based on their own research. TheNewsCrypto is not accountable for any damage or loss related to content, products, or services stated in this press release.

US Presidential Candidate Donald Trump’s pro-crypto stance is gaining traction but Harris’s ‘crypto reset’ receives criticism.

Ripple CEO Brad Garlinghouse advocates for a progressive crypto stance.

As the 2024 presidential race intensifies, the debate over cryptocurrency policy has taken center stage, particularly within the Democratic Party. Pro-crypto Democrats urge Vice President Kamala Harris to reassess her stance on digital currencies amid growing political pressure and shifting public opinion. 

The call for reconsideration comes as former President Donald Trump gains momentum with his increasingly favorable stance towards cryptocurrencies. Harris, who has previously voiced concerns about the risks associated with digital currencies, faces mounting pressure from within her party to pivot her position.

Harris’s Crypto Stance in a Tough Spot

Advocates argue that her current stance may alienate a younger, tech-savvy electorate that is increasingly supportive of crypto innovation. Trump’s recent endorsement of digital currencies has further complicated the debate. Trump’s positioning on this issue has galvanized his base and cast a spotlight on the Democrats’ need to present a more nuanced and forward-thinking approach to cryptocurrency.

Adding to the pressure on Harris, Brad Garlinghouse, CEO of Ripple, recently tweeted in support of a more progressive crypto stance. He emphasized the potential of digital currencies to drive financial inclusion and innovation. Garlinghouse’s tweet has been widely shared and discussed, amplifying the call for Harris to reconsider her position.

In addition to internal party pressure, some in the crypto industry are voicing criticism of current regulatory approaches. Nick Nickel, a notable figure in the crypto community, criticized SEC Chair Gary Gensler’s approach to cryptocurrency regulation, arguing that the SEC has overstepped its authority. “He’s way out of his lane,” Nickel said. 

Additionally, a study by the Pew Research Center indicates that over 60% of Americans aged 18-34 have a favorable view of cryptocurrencies, suggesting that a pro-crypto stance could be a strategic advantage for the Democratic Party. Moreover, key Democratic policymakers and influential tech leaders emphasize that a well-regulated crypto market could enhance the United States’ position as a leader in financial technology and attract significant investment. 

Highlighted Crypto News Today:

BOJ Says No to Interest Hikes Amid Unstable Markets

 Bitcoin holders have accumulated $23 billion worth of the cryptocurrency in just 30 days.

 The surge in accumulation occurs amid market volatility and regulatory challenges.

In a striking display of confidence, Bitcoin holders, often referred to as “hodlers,” have significantly increased their positions over the past month. Data from on-chain analytics platforms reveals that these long-term investors have collectively added substantial Bitcoins. Approximately $23 billion worth of BTC have been added to their holdings in just 30 days.

CryptoQuant founder and CEO Ki Young Ju recently shared his insights on the social media platform X, stating, “I’m pretty sure something is happening behind the scenes.” Ju went on to make a bold prediction, suggesting that within a year, various entities such as traditional finance (TradFi) institutions, companies, governments, and other organizations “will announce that they’ve acquired Bitcoin in Q3 2024.” This forecast aligns with the growing trend of institutional adoption of cryptocurrencies, particularly BTC, as a hedge against inflation and a store of value.

As the Bitcoin ecosystem evolves, the actions of these committed hodlers and sell-offs may play a crucial role in shaping the asset’s future. Their unwavering belief in Bitcoin’s potential, as evidenced by this substantial accumulation, could serve as a stabilizing force in an otherwise turbulent market.

Bitwise CIO Sees Opportunity in Crypto Crash for Bitcoin

Earlier this week, the price of the leading cryptocurrency crashed below $50,000 due to the global stock market crash. As a result, market sentiment plunged back into extreme fear territory. 

At press time, BTC is currently trading at $56,856 marking a 1.84% increase. The 24-hour trading volume stands at $47 billion, reflecting a 41.49% decrease. The Relative Strength Index (RSI) is at 36.03, suggesting that Bitcoin is in the oversold territory.

According to Bitwise CIO, Matt Hougan, the recent crypto crash is seen as a potential catalyst for Bitcoin’s growth. Moreover, he believes that the market’s downturn can clear out weaker assets, allowing BTC to gain strength. Key reasons for this optimism include institutional interest, regulatory clarity, and Bitcoin’s fundamental resilience. Despite the crash, these factors are expected to help Bitcoin thrive in the long run.

Highlighted Crypto News Today:

Metaplanet Eyes More Bitcoin Acquisition Via Stock Rights Offering

BlackRock and Nasdaq filed with the SEC, seeking options trading for ETHA.

Ethereum ETFs show strong inflows despite market turbulence.

BlackRock and Nasdaq have filed with the SEC to add options trading to the iShares Ethereum Trust (ETHA). Final SEC approval is anticipated by April 9, 2025, with pending approvals from the OCC and CFTC. This move, disclosed in a regulatory filing, aims to enhance market dynamics and provide investors with extra tools for exposure to Spot Ethereum ETF.

The filing highlights that adding options to the ETHA will offer cost-effective and versatile investment strategies. Nasdaq’s experience with commodity ETFs, such as the iShares COMEX Gold Trust and iShares Silver Trust,  builds its confidence in expanding these to the crypto sector.

James Seyffart, an ETF analyst of Bloomberg shared that the SEC has a 21-day window for public comments on the proposal, with a final decision expected around April 9, 2025. This decision will also require approval from the Options Clearing Corporation (OCC) and the Commodity Futures Trading Commission (CFTC).

Since spot ETH ETF’s launch on July 23, 2024, the iShares Ethereum Trust has seen substantial growth. ETHA’s assets under management (AUM) have increased to $521 million, tripling its market dominance from 3% to 9%. 

However, ETHE remains the largest in the sector with $4.77 billion in AUM. This development mirrors BlackRock’s Spot Bitcoin ETF surpassing Grayscale’s GBTC.

Ethereum’s Market Strength And Outlook

Despite a bearish trend, ETHA saw $48.73 million in inflows on August 5 and nears $900M inflows showing resilience amid market turbulence. The ETH market shows strong buying from both traditional and crypto investors. During the recent dip, 152.4K ETH was withdrawn from exchanges, indicating strong buying pressure. Whales bought over $331 million in ETH during the recent dip.

Technically, Ethereum is stabilizing around $2,500, with potential for a rebound. Despite bearish signals from the Moving Average Convergence Divergence (MACD) indicating ETH is oversold. Simple Moving Averages (SMA), and the Relative Strength Index (RSI) indicate that ETH might have bottomed and is set for a rally. In conclusion, options trading for iShares Ethereum Trust highlights cryptocurrency’s growing role in traditional markets.

Highlighted Crypto News Today:Grayscale Ethereum ETF Outflows Near $2.3 Billion

The Japanese Yen extends its losses against the US Dollar, leading the Bank of Japan not to raise rates when markets are unstable.

Japan’s benchmark Nikkei 225 stock index jumped by 10.2%.

The Bank of Japan (BOJ) confirmed today that they will not raise interest rates amid turbulent financial and capital markets. Deputy Governor of BOJ, Shinichi Uchida stated the need of maintaining monetary easing with the current policy interest rate in a meeting in Japan. 

The Japanese yen continued its losses against the US dollar; this downfall could be the major concern behind Uchida’s confirmation. Thus, unlike the U.S. and Europe, the BOJ didn’t mention about the future plans of implementing rate cuts.

Significantly, the Deputy Governor emphasized the influence of stock market’s volatility on  corporate activities and consumption and subsequently on the central bank’s decision-making process. Due to observing high volatility in domestic and overseas financial markets, he also affirms the need to maintain the current levels of monetary easing.

The BOJ’s interest rate would change if market volatility affected its price, the economy, and the achievement of the 2% inflation target. Moreover, Japan’s benchmark Nikkei 225 stock index jumped by 10.2%, or 3,217 points, in its biggest one-day point gain after yesterday’s drop. Similarly, stock markets in Taiwan and South Korea rebounded, rising around 3.5% after record falls.

BOJ’s Plans to Raise Interest Rate

At the end of July, the Bank of Japan decided to raise the overnight call rate target and Japan’s benchmark short-term lending rate around 0.25 pct from a range of zero to 0.1 pct. The short-term policy rate is now the highest since 2008. 

Whereas, only 26% of market players expected a rate rise, as per a survey of 181 bond investors conducted by Nikkei affiliate QUICK on July 23–25. However, investors are expecting a rate hike either in September or October.

The Bank of Japan Policy Board uniformly decided to shorten the monthly pace of its Japanese government bond purchases, which will be about 3 trillion yen in January–March 2026, down from 6 trillion yen. Furthermore, the BOJ will conduct an interim assessment of the plan at its monetary policy meeting in June 2025. 

Highlighted Crypto News

Grayscale Ethereum ETF Outflows Near $2.3 Billion

FU Capital is a pioneering platform that focuses on bridging the gap between traditional finance and decentralized finance (DeFi) through the tokenization of RWAs (Real World Assets). The platform is delighted to announce its recent fundraising achievements and share details about forthcoming developments.

In the most recent milestone, the Founders Sale and Seed Sale have both successfully concluded, with the Private Sale now open. The TGE (Token Generation Event) is scheduled for Q3, 2024.  FU Capital’s ‘Beta’ platform is also live and undergoing comprehensive internal testing. The public launch is anticipated in several weeks, offering users access to an array of innovative services designed to alter the way asset backed consumer and business loans are approached. 

Strong Investor Confidence

FU Capital has successfully raised $1.12 million through its Founders and Seed Sale rounds, highlighting strong investor confidence in the platform’s vision. This significant financial backing supports the platform’s efforts to revolutionize the intersection of conventional and decentralized finance.

As a next step, the platform is now inviting investors to participate in its Private Sale with a target raise of an additional $700,000. The tokens are priced at $0.035 each, placing FU Capital’s valuation at $14 million. This represents an enticing entry opportunity for early stage investors looking to  engage with the project. In addition, FU Capital aims to stand out from the competition through its unique approach of merging P2P (Peer To Peer) lending with traditional finance and DeFi.

“Investing in FU Capital has been a significant addition to my portfolio. I believe FU Capital is on track to become the next blue-chip crypto project, fundamentally transforming the RWA space. Their commitment to transparency, robust corporate culture, and financial expertise sets them apart. I am confident this investment will yield substantial returns and  significantly bolster my Web3 investment portfolio.” – Kirill Klinberg, VP at Bank of America, Seed Investor at FU Capital.

What Does FU Capital Provide?

By focusing on underserved markets, the platform creates valuable liquidity and growth opportunities for asset originators. It also democratizes investment by giving retail investors access to previously inaccessible credit markets, thereby making these investment opportunities more inclusive and rewarding.

As FU Capital continues to reshape the global financial sector, it remains at the cutting edge of tokenizing and fractionalizing RWAs for retail investors. Its worldwide P2P platform therefore not only tokenizes asset backed loans, but also connects asset managers with more affordable capital sources, particularly in emerging markets by enhancing liquidity through a secondary marketplace.

In the broader context, the TVL (Total Value Locked) in decentralized finance protocols for RWAs surpassed $6 billion in 2023. With expectations that tokenized RWAs will reach $15 trillion by 2030, FU Capital’s focus on emerging markets and its ability to offer previously untapped investment opportunities further distinguish it in a competitive landscape.

“FU Capital is transforming finance by combining DeFi with real-world assets, offering unique investment opportunities through our innovative business model. With our proven financial expertise and a team of dedicated professionals, we ensure that our focus on innovation and security not only meets but surpasses the expectations of both our stakeholders and community. Our vision is to become the leader in debt-capital market tokenization, setting new standards for the industry.” –  Beka Tchulukhadze, CEO at FU Capital 

Past Accomplishments And Future Goals

FU Capital’s team has a track record that speaks volumes – over 50 third party asset originators from regions including MENA, LatAm, and Southeast Asia are lined up to join, alongside 20,000 retail investors already onboarded. Furthermore, investment opportunities from 10 of the platform’s affiliated international  fintech companies will be listed as well. Over 20,000 retail investors on FU Capital’s Web2 platform have already deposited a cumulative $90 million USD in fiat and $7 million USD in crypto. Of these deposits, $45 million USD are now invested as part of  the platform’s AUM (Assets Under Management).

AvaFin, founded in 2011 by Davis and Matiss, aimed to provide online loans in Latvia. By 2017, it reported nearly €100M in revenue and had 500 employees across 7 countries. In 2022, AvaFin achieved close to €9M in net profit, before outdoing itself with €14M in 2023.

Esketit.com, established in 2021 by the same founders, provides financing in developing regions. By the end of 2022, the platform opened to third-party Asset Managers, with investors depositing €57M in fiat and €7M in crypto for investment in real-world assets (RWA). 

In terms of FU Capital’s target metrics, the goal is to onboard 30,000 investors, and see the FDV (Fully Diluted Value) of $FUT rise to $28 million USD. The $28 million target will also be at public sale price, and the goal will be to at least increase the token’s value several times in the first year. Lastly, the average investment amount that the platform expects to reach is $500.

About FU Capital

FU Capital connects DeFi investors with real-world asset investment possibilities on-chain. By recording loan terms, interest, and principal repayment on blockchain protocols and smart contracts, the platform enables trustless, transparent investment options that are supported by the asset owners’ balance sheets.

FU Capital aims to be at the forefront of tokenizing and fractionalizing RWAs for retail investors. It is a global P2P platform that facilitates the tokenization of asset-backed loans and connects asset managers with more affordable capital sources. With a commitment to rigorous security and regulatory compliance, FU Capital also aims to ensure investor protection and confidence at all times.Davis Barons and Matiss Ansviesulis, co-founders of the highly successful AvaFin Holding, formerly known as Creamfinance, founded FU Capital as a cryptocurrency alternative to their pre-existing successful company, Esketit. Led by industry veterans such as Beka Tchulukhadze, Davis Barons, Matiss Ansviesulis, and Edgars Zarins, and supported by a robust advisory board,  FU Capital boasts a capable team with extensive experience in Web3, fintech, and traditional finance. The advisory board also includes experts of blockchain development, marketing & community building and partnerships. With one of the leading Web3 Marketing Agencies on the market, the FU Capital team is planning to start active community-building in the coming weeks. For more information and regular updates, visit FU Capital’s official website, alongside its X, Telegram, and LinkedIn channels. Download the pitch deck here. Interested parties can also book a meeting to learn more.

Disclaimer: TheNewsCrypto does not endorse any content on this page. The content depicted in this press release does not represent any investment advice. TheNewsCrypto recommend our readers to make decisions based on their own research. TheNewsCrypto is not accountable for any damage or loss related to content, products, or services stated in this press release.

Bitcoin price plummeted significantly and fell to the $50K level over the last weekend. 

The token showed upward movement in the past few days as per CMC data.

The crypto market saw announcements of Binance being imposed by GST fees and the Ronin Network’s hack in the last 24 hours. Importantly, on-chain data provider Crypto Quant’s author, observed that almost 60% of the top 50 cryptocurrencies have lost their 2024 gains. On the other hand, the largest cryptocurrency, Bitcoin has managed to sustain its recent upward movement after the weekend price dip. 

Notably, Bitcoin price has shown a 1.87% increase in the last 24 hours. At the beginning of August 6, the token was trading at the $55K level, breaking the first resistance after sliding to $49K the previous day. Following this, BTC briefly slid to an intra-day low of $54,198, before sparking bullish candles. 

In the early hours of August 7, the token began showing upward movements and surpassed $56K attempting to recover to previous trading levels. Contrastingly, the token’s daily trading volume dipped by 41.07% as per CMC data. At the time of writing, Bitcoin was trading at $56,864. 

Zooming out, over the past month, the cryptocurrency has factored in a 2.28% increase, while its weekly performance shows a 13.66% decline. Moreover, parallel to the last 7 days’ price performance, market sentiment still resides in the selling zone. This is indicated by the token’s RSI standing at 35.44. Additionally, Bitcoin’s short-term 9-day MA stands below the long-term 21-day MA suggesting the overall bearish trend, as per TradingView reports. 

What to Expect for Bitcoin Price in the Coming Months? 

According to coinglass data, Bitcoin witnessed a liquidation of $67.25 million in the last 24 hours. The amount of liquidations has shown a reduction compared to the previous days influenced by the recent price recovery. On August 6, BTC recorded $289.32 million in liquidations. 

Notably, if the token sustains current upward momentum, Bitcoin price might reach previous trading levels of $60K. As inferred from the daily price chart, in case of a bull run, the token might face resistance at $62,507 and $65,112. However, in case of a bearish turn, BTC will fall to find support at $54,826 and $53,824. 

Meanwhile, TheNewsCrypto analysts have predicted a bullish price of $81,013.11 for Bitcoin in 2024.  

Grayscale’s Ethereum ETF has seen substantial outflows, nearing $2.3 billion since its inception.

The total Ethereum ETF inflow stands at $98.30 million.

While the global crypto market turned to recovery, Ethereum exchange-traded funds (ETFs) in the United States displayed notable activity. On Wednesday, BlackRock’s fund saw a significant net inflow of around $110 million, contributing to a positive trend for Ethereum ETFs.

For two consecutive days, U.S.-based spot Ether ETFs have recorded substantial inflows, with Tuesday marking the second-highest inflow since their inception. Approximately $98.30 million was added to these funds, although they collectively remain in the red with a net deficit of $363 million, largely due to significant withdrawals from Grayscale’s Ethereum Trust.

Ethereum ETF’s Net Inflow (Source: Sosovalue )

On Tuesday, the influx of $98.30 million was primarily driven by BlackRock’s ETHA fund, which secured $109.89 million, followed by Fidelity’s FETH with $22.49 million.

Conversely, Grayscale’s ETHE experienced net outflows of $39.73 million, heavily offsetting the gains seen in other funds. 

Ethereum Price Shows Recovery

The Grayscale Ethereum Trust, now operating as an ETF under the ETHE ticker. The ETHE has faced notable challenges, with outflows totaling $2.29 billion since July 23, marking a significant reduction in its ether reserves. The fund saw its peak outflow of $484 million on its debut date, underscoring investor hesitancy in recent weeks.

However, there are signs of stabilization as the daily pace of outflows from ETHE moderated, hitting approximately $40 million on August 6, the lowest since its conversion to an ETF. This reflects investor sentiment within the Ethereum ETF market amid broader cryptocurrency market fluctuations.

Further, Ether has shown signs of recovery after hitting a low of $2,190 on August 5. According to CoinMarketCap data, the cryptocurrency has rebounded by 14.57%, bringing its current price up to $2,509. This upward movement suggests a potential reversal of the recent downward trend. The recovery comes amidst various market fluctuations and news events impacting the broader cryptocurrency market.

Highlighted News Of The Day

Jump Trading’s Massive ETH Liquidation Sparks Market Turbulence

Jump Trading’s large ETH sell-off caused a 20% price drop.

Weekend sell-off exacerbated market volatility and liquidity issues.

Jump Trading, a prominent crypto trading firm, has made headlines again by cashing out $116.7 million worth of Ethereum (ETH) just 11 hours ago. This move follows a significant sell-off that began on July 24, during which the firm withdrew $611.78 million USDC from Binance and deposited $558.2 million USDC to Coinbase. It is likely for conversion to USD.

The firm’s actions have sent shockwaves through the Ethereum market, causing ETH’s price to plummet by 20% to a seven-month low of under $2,100 on Monday.  This came with a wallet linked to Jump Trading that transferred 17,576 ETH, valued at over $46 million, to centralized exchanges. This massive transfer is part of a larger trend, with nearly 90,000 ETH moved to exchanges since July 25. The wallet still holds 37,600 wstETH and 11,500 stETH, Lido’s DeFi-compatible staked Ether.

Adding to the turmoil, Japan’s Nikkei 225 index experienced its largest-ever point drop on August 5, plummeting 12.4%. Rumors suggest Jump Trading’s actions might be part of winding down its crypto operations amid a Commodity Futures Trading Commission (CFTC) probe following the resignation of its former CEO.

Meanwhile, Dr. Julian Hosp, CEO of Cake Group, speculated on X that Jump Trading might be liquidating due to margin calls in traditional markets or regulatory pressures. He said it was possibly related to Terra Luna. The sell-off, occurring over a weekend with typically low liquidity, has intensified market volatility.

Implications On Market

Analysts propose alternative theories, suggesting Jump Trading anticipated a market downturn and converted risk assets into stablecoins. Justin d’Anethan from Keyrock highlighted the strengthening yen. Carry trade dynamics could have pressured firms like Jump Trading into liquidating assets to cover loans.

Jump Trading has yet to comment on these developments. Meanwhile, other major players like Grayscale have also been offloading Ether, indicating a broader trend. As the crypto community grapples with these events, the full implications for the market remain uncertain.

Highlighted News Of The Day

Ethereum (ETH) Staking Hits Record High Amid Recent Market Decline

Traders wonder why Bitcoin (BTC) crashed during the week after reclaiming the $70,000 region. As experts investigate BTC’s dip, investors gravitate towards Ethereum decentralized exchange platforms Aave (AAVE) and RCO Finance (RCOF), which exude a promising outlook.

Let’s find out why the price of BTC is down and why traders picked AAVE and RCOF.

Bitcoin Price Plummets: Here’s Why

Bitcoin had a bearish start to August amid the anticipated outcome of the Federal Reserve’s decision on rate cuts and Vice President Kamala Harris gaining more grounds than her opposer, Donald Trump, in the campaign preceding the United States Presidential election in November. 

On July 31, Jerome Powell, the Chairman of the Federal Reserve, announced that the FED would maintain interest rates between 525 and 550 basis points.

However, he added that adjustments might be made should inflation drop below the current level. The pioneer cryptocurrency initiated a correction amid the FED Chair’s speech, falling 5% to $63,400 by the end of the following day.

Also, reports indicated that Kamala Harris surpassed her rival, Donald Trump, in Key Swing states, receiving 48% approval instead of Trump’s 47% approval. With this outcome, Bitcoin can fluctuate should investors sense a negative wind around cryptocurrencies.

Furthermore, the $3 billion Bitcoin transfer Mt. Gox authorized on July 30, involving 47,000 BTC to Kraken and Bitstamp, also weighed on its price as market players interpreted it to be a step towards reimbursing individuals affected by the 2014 hack. Amid these, Bitcoin is finally cooling off at $60,000, having shed over 7% of its market value in the last three days.

Aave Rallies After V3.1 Update Goes Live

AAVE witnessed a remarkable price boost after the initialization of Aave V3.1 and increased whale activity. The launch of Aave V3.1 symbolizes a huge breakthrough for the protocol, underlining its growing influence and market-wide optimism. This update has improved its performance and other important features, such as security, usability, and operational efficiency.

Another factor behind AAVE’s price increase is the increase in whale activity. Recent market data shows that many AAVE transactions have occurred lately. Specifically, whales transferred a sizable amount of AAVE tokens from exchanges, impacting its market price.

AAVE rallied 18% the previous week, indicating a solid upward movement provoked by market dynamics and the latest network updates. In the last 24 hours, the token rose 7% to $111. Experts believe AAVE will continue upward in the coming days as more users become attracted to the network.

RCO Finance’s Transformative AI Tool Gains Eminence

RCO Finance has become a beacon of innovation within the decentralized finance (DeFi) sector due to its incorporation of artificial intelligence. The AI tool, a robo-advisor, uses a machine-learning algorithm to provide automated investment strategies to investors. It roleplays an actual financial advisor, telling users when to invest in or divest an asset or adjust their trading leverage to taper unprecedented losses.

With over 120,000 assets on RCO Finance’s trading platform, singling out the best asset to invest in can prove rather difficult. However, with the robo-advisor advisor’s help, investors will know what to buy and when, whether stocks, shares, derivatives, ETFs, or real-world assets. 

Its machine-learning program allows it to read and understand market data like trends, patterns, indicators, sentiments, and price actions and forecast price behavior based on this report.

The KYC-free platform allows users to hop aboard without giving up private information. It also issues a debit card to foster transactions with local banks. With SolidProof constantly auditing RCO Finance, the platform is safe for users to store their funds or trade.

Users who hold RCOF will be rewarded with access to airdrops, contests, tier-based rewards, and quarterly dividends. The platform offers low interest rates on lending and borrowing, a high yield on staking, 24/7 market coverage, and customized trading tailored to an individual’s specific needs. Its outstanding tokenomics help build a structure that prevents pumps and dumps or liquidity crunches.

RCOF Rises In Its Presale As Bitcoin Falls

RCOF continues to cover more ground in its presale, recently entering Stage 2. At this stage, RCOF trades at $0.0343 per token, having grown 169% from the previous stage. The token has also generated over $20,000 from the sales of almost 10 million tokens.

Although $0.0323 is low, investors can reduce it by 40% using the code RCOF40 during purchase. With 3,000% gains up for grabs for early investors, the best time to milk this entire price projection is now.

For more information about the RCO Finance Presale:

Visit RCO Finance Presale

Join The RCO Finance Community

Disclaimer: TheNewsCrypto does not endorse any content on this page. The content depicted in this press release does not represent any investment advice. TheNewsCrypto recommend our readers to make decisions based on their own research. TheNewsCrypto is not accountable for any damage or loss related to content, products, or services stated in this press release.

The crypto market is in a wave of negative momentum, with the total market cap down 3% to $2.9 trillion. Bitcoin and Ethereum have been at the forefront, with price dips of 14% and 17%, respectively. Other altcoins like Solana (SOL) and Polkadot (DOT) have not been spared and have experienced price downturns. Amid these market moves, Pawfury (PAW) is garnering attention with its presale, touted as a promising opportunity for those looking for clearer returns in the often unpredictable crypto landscape. 

Pawfury (PAW) – The New Rising Star 

Pawfury (PAW) is making a significant impact as the newest entrant in the cryptocurrency market. Its innovative features and strong community backing have quickly positioned it as a formidable contender. Pawfury (PAW) is attracting substantial interest from investors seeking fresh opportunities. As it continues to gain traction, Pawfury (PAW) promises robust growth and a dynamic presence in the evolving crypto landscape.

Join Presale at a Discount on the Official Site

Staged Pricing Benefits for Pawfury Investors Pawfury’s presale, designed with investor benefits in mind, ensures fair token distribution through its staged pricing structure. Early participants can purchase tokens at lower costs, thanks to the incremental pricing. This approach generates excitement and attracts capital, boosting liquidity and market stability.To celebrate its success, investors can now enjoy a 10% extra bonus on their first purchase on Pawfury using the promo code “EXTRA10X” for a limited time.

Presale is Live, Learn More About Major Benefits

Solana (SOL): Battling Bearish Pressure Amid Support Breakdown

Solana (SOL) experienced a price drop of over 8% in the last 24 hours. This decline led to a major breakdown of the crucial support level at $157. With the support level breached, SOL is turning bearish, now heading towards the $125 mark. This price drop is attributed to the breakdown of the support.

Source: TradingView

Despite the substantial liquidation in the last 24 hours, the upcoming liquidation levels are at $146 on the lower side and $162 on the higher side. If market sentiment remains unchanged and SOL drops to $146, nearly $40 million in long positions could be liquidated.

Conversely, if the market sentiment shifts and SOL reaches $162, nearly $147 million in short positions could be liquidated. Expert technical analysis indicates that SOL is bearish, having broken down crucial support and the 200 Exponential Moving Average (EMA) in a 4-hour timeframe. Assets below the 200 EMA in this timeframe signal potential bearishness.

Polkadot (DOT): Struggling Below Critical Levels

Polkadot ($DOT) has dropped double figures in the past week, slipping below its crucial trading level of $5.00. This dip meant buyers were unable to take control of Polkadot ($DOT), sending the coin down below its critical $5.00 trading level.

Source: TradingView

However, indicators like the 3-10 day MACD oscillator are hinting at a possible deceleration in momentum, as the oscillator shows stalling signs around the $4.75 area. This could mean that the ascent of DOT may require a strong catalyst to breach the $4.85 resistance convincingly.

Should the tide turn, the asset’s supports at $4.52 and $4.42 are the immediate cushions that may hold back a retreat. A slip below these could see Polkadot (DOT) testing the third support at $4.35. It’s critical to observe the moving averages as well; a sustained fall could see DOT challenging the $4.18 level where the price has previously stalled. 

Conclusion: Opportunities Amid Market Turbulence

The crypto market is currently bearish, with Solana and Polkadot, two major players, suffering major value losses. While Pawfury stands out among these options with its lucrative presale and 10% extra bonus, it is important that investors do their own research and due diligence. 

Thoroughly evaluating the risks, understanding market conditions, and considering individual financial situations will help ensure well-informed investment decisions.

Disclaimer: TheNewsCrypto does not endorse any content on this page. The content depicted in this press release does not represent any investment advice. TheNewsCrypto recommend our readers to make decisions based on their own research. TheNewsCrypto is not accountable for any damage or loss related to content, products, or services stated in this press release.

ETH’s staking trend has decoupled from its price performance.

At the time of writing, the price of ETH is $2,539, down 23.41% in the last 7 days.

The percentage of supply staked ETH hit a record high of 27.95%. This follows a little decline two weeks earlier, on July 21, when it fell from 27.58% to 26.82%—a decline of 0.76%. Not only has it recovered since then, but it has also exceeded its prior records. Significantly, there has been a 1.9% rise in the proportion of ETH staked since the debut of the ETH ETFs.

It is worth noting that ETH’s staking trend has decoupled from its price performance, which is comparable to the pattern in the Bitcoin network’s transaction count. At the time of writing, the price of ETH is $2,539, down 23.41% in the last 7 days as per data from CMC. But the percentage of ETH staked has gone up by almost 2%, from 26% to about 28%.

Steady Rise

Considering there are 120.25 million ETH in circulation at the moment, a 2% rise in staked ETH is now worth almost $7 billion. The effects on restaking and liquid staking protocols are a direct outcome of the steadily rising amount of ETH staked.

At the time of writing, the TVL of the liquid staking industry was $52.27 billion, up 60% from $32.68 billion at the beginning of the year. Surprisingly, the liquid restaking sector’s TVL increased from $1.34 billion to $18.65 billion, a growth of more than 1,200% in the same time frame.

Among the best achievers, Eigenlayer stands out with a TVL that increased from $1.4 billion in January 2024 to $15.97 billion in July, more than tenfold growth.

 Highlighted Crypto News Today:

Solana’s Trajectory In Question As Institutions Back Down

Tron (TRX) experiences a price decline over the past week amid broader market downturn.

On-chain metrics reveal increased holding time despite price drop, suggesting investor confidence.

Technical analysis indicates potential for price stabilization and recovery, with key levels identified.

Tron (TRX), despite its historical resilience, has not emerged unscathed from the recent cryptocurrency market correction. The digital asset has recorded a 10.51% decrease in value over the past seven days, coinciding with Bitcoin’s descent below the $50,000 threshold.

However, recent hours have shown signs of a modest recovery, prompting a closer examination of on-chain metrics and market sentiment.

Tron Coin Holding Time: A Measure of Investor Conviction

Intriguingly, Tron’s Coin Holding Time metric has displayed a remarkable surge of 324.40% during the same period that saw its price decline by 10%.

This on-chain indicator, which measures the duration cryptocurrencies remain in wallets without transactions, suggests that TRX holders have maintained their positions despite market volatility. Such behavior often indicates strong confidence in an asset’s future prospects.

While holder behavior paints an optimistic picture, broader market sentiment presents a more nuanced view. Tron’s Weighted Sentiment metric currently resides in negative territory, indicating a cautious stance among market participants.

Source:  IntoTheBlock

This disparity between holder behavior and overall sentiment highlights the complex dynamics at play in the TRX market.

From a technical perspective, TRX’s price action in July saw a rise from $0.10 to $0.14 before encountering resistance. Recent price movements have brought the token to $0.12. The formation of a potential ascending channel pattern could signal a move towards previous highs if sustained.

The Fibonacci retracement tool provides insights into potential support and resistance zones for TRX. Current analysis suggests that the token may attempt to retest the 61.8% golden ratio, which aligns closely with the $0.13 price level. This technical setup offers a framework for understanding possible price targets in the near term.

Leading Web3 payments infrastructure provider Transak has officially introduced wire transfers as a new payment option for US customers to buy cryptocurrency. For crypto aficionados throughout the country, the addition of wire as a payment option for purchases is a significant step toward improved accessibility and convenience.

Transak has redefined user choice and freedom by becoming the first and only fiat-to-crypto on-ramp to allow this payment option.

Wire transfers were added by Transak to provide more flexible payment options, enhancing the customer experience overall. Transak wants to make sure that everyone can find a comfortable way to conduct cryptocurrency transactions by supporting universal accessibility across a range of currencies and payment methods. Wire transfers are often associated with bank transactions for customers in the United States, therefore this innovation fits in well with their financial practices.

Notably, Transak wire transfers have already shown to be a popular choice for high-value transactions. With a $2,000 minimum order requirement, wire transfers have an average order value that is 16 times larger than other payment options on the platform. This contrast emphasizes how wire transfers may make large cryptocurrency investments possible.

Since its launch, wire transfers have attracted a lot of attention from Transak’s partner network; 13 partners, including Binance.US, have joined.

The affordability of wire transfers on Transak is among its most alluring features. For a little 1% charge, wire transfers are a much more cost-effective choice when considering US payment options like credit cards and Apple Pay.

Yeshu Agarwal, Co-Founder, Transak stated:

“Being the first to offer wire transfers for crypto purchases is a significant milestone for Transak. This achievement reflects our commitment to innovation and providing our users with more convenient and secure payment options. We’re thrilled to lead the way in expanding accessibility and enhancing the user experience in the crypto space.”

Transak has made sure that a wide range of US consumers may easily access wire transfers. As long as they fulfill the $2,000 minimum transaction requirement, anybody who has completed level 2 KYC verification on the platform may use this payment method to buy cryptocurrencies valued up to $25,000 per day.

Why Transak is the Only On-Ramp Provider of Wire Transfer Support

Handling Difficult Processes

Complex procedures must be followed in order to implement wire transfers for cryptocurrency transactions, from managing bank transfers to guaranteeing precise money reconciliation. This is not a simple undertaking; it calls for a thorough and drawn-out product development procedure. Transak has shown its dedication to delivering a flawless customer experience by devoting a substantial amount of work to developing a comprehensive system that guarantees smooth money movement.

Preferred for High-Value Transactions

Because bank transfers are user-friendly and safe, they are often the method of choice for high-value transactions. When compared to alternative payment options like as cards and Apple Pay, bank transfers yield four times the transaction volume, according to data from Transak’s UK operations. Realizing this, Transak brought wire transfers to the US market, providing customers with a dependable and accustomed mode of payment.

Customized Geographic Expansion

The incorporation of wire transfers is a strategic move that aligns with Transak’s goal of global expansion. It is especially designed to serve areas where this mode of payment is extensively used and practical for large-scale transactions. This step is in line with Transak’s objective of expanding its payment choices by making big transactions easier and more affordable for consumers.

Elevated Intent and Strengthened Security

All payment methods have robust security features, but since wire transfers need a high level of purpose, they are especially safe. Layers of verification are added throughout the multi-step process of adding beneficiaries, transferring payments, and authorizing transactions. This intricacy considerably lowers the possibility of fraud while also enhancing the method’s security.

The Japanese investment firm now holds around 245.992 Bitcoins.

Following a recent meeting of the Board of Directors, the firm revealed this strategic plan.

The Japanese investment firm Metaplanet has announced its intention to acquire Bitcoin via a massive stock rights offering valued at $68 million. Following a recent meeting of the Board of Directors, the firm revealed this strategic plan. Which is a big change as it tries to get into the digital asset market. The firm now holds around 245.992 Bitcoins, since it has been increasing its BTC holdings over the past few months.

In order to acquire Bitcoin, Metaplanet made a bold step by announcing a stock rights offering of $67.5 million. The gratuitous distribution of the company’s eleventh series of unlisted stock purchase rights to all common shareholders has been authorized by the Board of Directors.

Strategic Plan

All shareholders whose shares are on record as of September 5, 2024, will be eligible to acquire one stock acquisition right for every share they possess as part of this offering. Existing shareholders are guaranteed a chance to keep their ownership percentage in the firm via this proportionate distribution. To make it easy for investors to join Metaplanet’s crypto strategy, the exercise price for each right is fixed at $3.70 (555 yen).

There is no mandate that shareholders use their rights, thus they may choose whether or not to do so. The notice will begin the exercise period, which will end on October 15, 2024. During this period, shareholders who would want to take part are required to provide the firm the necessary money together with an exercise request form.

In a surprising turn of events, Metaplanet has threatened to purchase any rights that have not been exercised. By the October 15 deadline at no further expense. At the time of writing, Bitcoin is trading at $56,389 as per data from CMC. This rebound comes after the price declined below $50,000 earlier this week.

Highlighted Crypto News Today:

Ronin Network Loses $9.8 Million in ETH, Pauses Bridge

Solana (SOL) experiences a price decline amid broader market downturn.

Institutional investors withdraw $2.8 million from SOL in the week ending August 3.

Technical indicators suggest ongoing selling pressure, but critical support remains intact.

Solana (SOL) has recently encountered substantial headwinds, mirroring the broader cryptocurrency market’s downward trend. The digital asset’s value has seen a notable decrease over the past ten days, prompting a reassessment of its market position by various stakeholders.

Solana Institutional Investors Respond to Market Shifts

According to data from CoinShares, the week concluding on August 3 witnessed a significant outflow of institutional capital from crypto assets, totaling approximately $528 million.

While Bitcoin (BTC) accounted for the majority of these withdrawals, Solana also experienced a noticeable exodus of funds, with $2.8 million being pulled out by institutional investors.

Interestingly, other alternative cryptocurrencies did not record similar outflows during this period. This divergence highlights Solana’s unique position in the market, placing it alongside major players like Bitcoin and Ethereum in terms of institutional interest and market dynamics.

The Relative Strength Index (RSI), a key technical indicator, currently sits below the neutral 50.0 mark for Solana. This positioning suggests that selling pressure continues to exert influence on SOL’s price movements.

The RSI, which ranges from 0 to 100, is often used to identify potential overbought or oversold conditions in asset prices.

Despite the recent downturn, Solana’s price has managed to maintain its position above a critical support level of $126. This resilience in the face of significant selling pressure may provide a foundation for potential price stabilization or recovery in the near term.

The recent market movements have invalidated a previously identified bullish double-bottom pattern in Solana’s price chart. This pattern had suggested the possibility of a 31% rally, potentially driving SOL’s price to $245. However, current market conditions have rendered this projection obsolete.

Zeebu, the Web3 payments and settlement platform for the telecom industry, announces a new partnership with SilentSwap, the privacy-focused cross-chain aggregator powered by Secret Network. This collaboration aims to enhance privacy and security for transactions, advancing Zeebu’s mission to revolutionize global telecom settlements.

Zeebu’s platform, known for its blockchain-based solutions that ensure trustless, frictionless, and superfast global transactions, will now benefit from SilentSwap’s advanced technology. This integration will enable Zeebu to handle all future transactions in a private and decentralized manner, utilizing SilentSwap’s SDK for seamless operations.

“The SilentSwap partnership means our customers get access to cutting-edge decentralized technology from a trusted developer,” said Raj Brahmbhatt, CEO of Zeebu. 

“We’ve been talking with Zeebu for months and we’re excited to finally announce this vital partnership between two giants in the decentralized space,” said Shibtoshi, SilentSwap’s CEO.

This partnership goes beyond integrating cutting-edge technology. It sets new standards for privacy and security in the telecom industry while leading the charge in decentralized finance (DeFi). 

Combining the strengths of both companies, Zeebu aims to offer a more secure application, attract new users, and significantly impact the DeFi space.

About Zeebu

Zeebu is a blockchain-based platform tailored to meet every telecom settlement need. The company’s mission is to enable trustless, frictionless, and superfast global transactions, transforming the way telecom companies handle settlements.

About SilentSwap

SilentSwap is a privacy-focused cross-chain aggregator powered by Secret Network. The company’s mission is to provide non-custodial, trustless, and decentralized solutions that safeguard user privacy and enhance security.For more information, visit www.zeebu.com

About NAVI Protocol

NAVI is the pioneering Native One-Stop Liquidity Protocol on Sui, offering users the opportunity to participate as liquidity providers or borrowers within the Sui ecosystem. Since its launch in August 2023, NAVI has achieved significant milestones, including:

•$200M+ Total Value Locked (TVL)

•900,000+ Users

•$5B in Borrow Volume

Introducing NAVI Pro

NAVI Pro marks a major evolution in liquidity management on the NAVI Protocol, introducing groundbreaking features that enhance the DeFi experience on Sui. Over the past year, the NAVI team has focused on optimizing the lending and borrowing experience, catering to both beginners and seasoned DeFi users. This has been achieved through a series of smart contract and UI upgrades, significantly improving user experience over time.

In addition to these enhancements, the NAVI protocol team has gathered valuable community feedback to shape the development of NAVI Pro. This new iteration of the lending and borrowing protocol includes:

•Improved User Interface (UI)

•Access to Advanced DeFi Strategies

•Enhanced Liquidity Management

•Community-Building Tools

•Facilitated Developer Onboarding

•And much more

Part of Navi pro’s New update

1)  New & Fresh NAVI Protocol Website

   NAVI Protocol unveiled its redesigned website, now live at naviprotocol.io. This update emphasizes clarity, legibility, and accessibility, featuring live analytics of NAVI’s performance over time. 

  The NAVI development team enhanced the accessibility and user experience of their entire product, starting with a comprehensive overhaul of the NAVI Protocol website. The landing page now features a sophisticated design and separate sections for major milestones, partnerships, exchange listings, and media coverage.

Additionally, new pages focus on supporting builders on the Sui network, including a NAVI Developers Onboarding page that offers tools and information for hackathons and dev initiatives. The NAVI Ecosystem Fund page provides details on how developers can apply for grants from the 10M NAVX pool to build with NAVI, Volo, NAVX, and vSUI. 

The Ecosystem Fund is open to the public for applications.

 2) Upgraded Dashboard 

The Dashboard is one of the many additions to NAVI Pro that aims to make the user experience more streamlined and comprehensive. You will find your positions’ Supply/Borrow details section, where you can directly interact with the pools to supply & withdraw assets or borrow & repay borrowed assets.

3) Liquidation Forecast

 NAVI Pro’s Liquidation Forecast, a powerful new feature that allows Sui network users to efficiently assess the health of their positions. This tool provides crucial insights into account health factors, safety borrows, and liquidation levels, along with a comprehensive price table for all supported assets.

About NAVI Protocol:

NAVI Protocol is the premier liquidity protocol on the Sui Ecosystem, offering seamless participation as liquidity providers or borrowers. Since its launch in August 2023, NAVI has been at the forefront of the DeFi space on Sui, continually innovating to meet the needs of its growing user base.

For more information, visit  NAVI Protocol.

Contact:

Company Name:  NAVI PROTOCOL LABS INC. 

Contact Person: Ivan Djordjevic

Email: team@naviprotocol.io   

Website:https://naviprotocol.io/