Institutional Investors' Interest in Memecoin Increased by 300 Percent! Here are the 4 Indispensable Altcoins for Their Portfolios!

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While Memecoins have always been in the focus of investors due to their speculative nature, a new report regarding Memecoins has come from the leading cryptocurrency exchange Bybit.

According to the ByBit report, institutional investors have invested hundreds of millions of dollars in memecoins this year, while institutional investment in memecoins has increased by more than 300% in 2024.

According to Bybit's data, corporate investments reached their peak in April with 300 million dollars.

Institutional investors invested in memecoins that had superior and solid market capitalization compared to new memecoins.

According to the ByBit report, institutions specifically purchased Dogecoin (DOGE) and Shiba Inu (SHIB), while BONK attracted more attention among the new memecoins, with institutions purchasing $75 million worth of tokens.

According to data, institutional investors account for 36% of their portfolios; Individual investors allocated 24.5% to DOGE.

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The report stated that institutional and individual investors also purchased PEPE and SHIB, while individual investors' portfolios included PEPE and SHIB by 20.95% and 14.61%, respectively; It was stated that corporates allocated 22.23% and 10.39%.

Stating that these data reveal that memecoins are attracting interest from institutional investors, ByBit analysts wrote:

“This data shows that while both groups view DOGE as a core asset in the memecoin space, institutions favor it more, perhaps due to its higher liquidity and relative stability.

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Both groups (individual and institutional investors) are buying Ethereum-based memecoins (PEPE) and (SHIB). “Retail investors hold PEPE and SHIB at 20.95% and 14.61% in their portfolios, respectively, while institutional investors hold 22.23% and 10.39% of PEPE and SHIB.”

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#Linea Token: Powering the Future of #Ethereum Scalin Linea is a layer-2 scaling solution for Ethereum that uses zero-knowledge proofs to achieve high throughput and low transaction fees. The Linea token is the native token of the Linea network and is used for a variety of purposes, including:1. Gas fees: Linea tokens are used to pay for gas fees on the Linea network.2. Staking: Linea holders can stake their tokens to secure the network and earn rewards.3. Governance: Linea holders have voting rights and can participate in the governance of the Linea ecosystem.Benefits of the Linea TokenThe Linea token offers a number of benefits to users, including:1. Reduced gas fees: Linea transactions have significantly lower gas fees than Ethereum mainnet transactions.2. Increased throughput: Linea can process thousands of transactions per second, compared to just 15 transactions per second on Ethereum mainnet.3. Improved security: Linea uses zero-knowledge proofs to secure the network, which is considered to be a very secure technology.4. Decentralization: The Linea token is designed to be decentralized, with the community having a greater say in its governance.Use Cases for the Linea TokenThe Linea token can be used for a variety of purposes, including:1. Paying for gas fees on the Linea network: Linea tokens are used to pay for gas fees on the Linea network when using decentralized applications (dApps).2. Staking to secure the network and earn rewards: Linea holders can stake their tokens to help secure the Linea network and earn rewards in the form of Linea tokens.3. Participating in the governance of the Linea ecosystem: Linea holders have voting rights and can participate in the governance of the Linea ecosystem, such as voting on proposals to improve the protocol.4. Investing in the Linea ecosystem: Linea tokens can be purchased and sold on exchanges, and can be used to invest in the Linea ecosystem, such as by investing in new dApps that are being built on the Linea network.#Linea #BinanceSquare #Binancefeed #Binance

NOT Coin Price Analysis: Why NOT Surged By 400% Last Week?

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The cryptocurrency landscape is ever-evolving, and the recent surge in NOT coin is a testament to the market volatility.

Within just seven days, NOT coin, a lesser-known asset on the TON blockchain, has skyrocketed by 400%. This remarkable growth has drawn significant attention away from more established networks like Ethereum and Solana.

NOT Coin Surge: A Phenomenal Increase

TON blockchain, often operating under the radar, has seen one of its tokens, NOT coin, experience a phenomenal 400% increase in value over the past week. This surge highlights that significant activity and growth potential exist outside the more mainstream blockchain networks.

Factors Contributing to the NOT Coin Surge
The dramatic price increase of NOT coin is attributed to several factors, particularly the growing interest from cryptocurrency whales.

One such whale secured an unrealized profit of $862,000 by investing early in NOT coin. This investor initially acquired 46.4 billion NOT using 50,550 TON, worth $278,000, before the coin was publicly listed.

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On May 21, this investment was converted into 46.4 million NOT, demonstrating the substantial returns possible with strategic early investments in emerging cryptocurrencies.

Market Confidence and Trading Volume
The increasing trading volume and price movement of NOT coin indicate growing confidence in the TON blockchain. Recent spikes in trading volume suggest robust buying activity, supporting the likelihood of sustained long-term interest in the token.

The technical analysis shows consecutive days of gains, represented by a series of green candles on the chart.

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Future Prospects and Market Trends
While the recent sharp increase might lead to a short-term retracement or profit-taking period, the overall volume trends and buying activity suggest a positive outlook for NOT coin.

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Is Polkadot Preparing For A 100% Surge And Spike Above $20?

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Polkadot, the interoperable blockchain, remains one of the largest and most popular networks in the top 20. At press time, DOT, the platform’s native currency, is 14th, ahead of Tron and the NEAR Protocol.

However, despite recent gains, it is still down 87% from all-time highs, undeniably facing a brutal market correction.

Even with this bearish sentiment, a wave of optimism is building around DOT’s future. Taking to X, one analyst thinks not only will the coin shake off weakness but will surge, rallying to over $20 in the coming months.

This confidence, the analyst said, will be primarily because of crucial developments in the broader Polkadot ecosystem.

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Eyes On Polkadot 2.0, Better On-Chain Governance
Of the many, the analyst thinks the upcoming Polkadot 2.0 upgrade will be a game-changer.

Already, Polkadot is interoperable and scalable. However, once the new upgrade comes into play, the platform’s developers expect the network to be more interoperable, scalable, and with better governance.

Specifically, to address scalability, they will eliminate the Parachain slot auction and introduce the concept of coretime. This feature will give developers more flexibility.

Instead of bidding and locking resources in the auction, they must purchase block space dynamically as needed. This will improve resource allocation, leading to more accessibility and efficiency.

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Additionally, Polkadot developers are introducing the OpenGov system for more decentralized governance. The objective here will be to give all DOT holders a voice in decision-making, which is crucial in decentralized networks.

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Pre-market airdrops refer to the distribution of tokens or cryptocurrencies to early adopters or investors before the official launch of a project. They are often designed to reward community members, increase awareness, and promote engagement with the project. Below is a brief overview of each project mentioned:
1. XP: #xp might refer to a cryptocurrency project that offers utility or governance tokens. These projects often aim to reward early participants through airdrops based on their activities.
2. BABYLON: #Babylon could be related to DeFi (Decentralized Finance) or blockchain projects that focus on asset management or investment strategies. Airdrops might target users of similar platforms to encourage participation.
3. MAJOR: The specifics of this project are unclear, but it might be a gaming or NFT (Non-Fungible Token) platform where users receive tokens as part of early user engagement or community involvement.#Major
4. FARCASTER: #Farcaster is a decentralized social network protocol. Airdrops could be used to incentivize early adopters, developers, or participants who contribute to building the ecosystem.
5. LINEA: #Linea is potentially associated with Layer 2 scaling solutions for blockchain platforms like Ethereum. Airdrops might be directed toward those who have used Layer 2 solutions or provided liquidity.
6. BULLX: #BULLX could be linked to trading or DeFi platforms, with airdrops targeting active traders or liquidity providers to grow their user base.
7. KILO: Projects like #KILO may focus on supply chain, logistics, or tokenized assets. Airdrops are typically used to onboard businesses or individuals interested in these areas.
8. ZRC: #ZRC could refer to a token standard or a project within a specific blockchain ecosystem like Zilliqa. Airdrops would likely be directed toward users familiar with that ecosystem.
9. FUEL: #Fuel is known to be an Ethereum Layer 2 scaling solution, with a focus on enhancing transaction throughput. Early adopters of similar technologies might be targeted in airdrop campaigns.
10. KEP: The #KEP token's details are not well-known, but it might be tied to a specific DeFi or Web3 platform, using airdrops to engage with potential investors or developers.
11. BLUM: #BLUM could be related to eco-friendly blockchain initiatives or sustainability-focused projects. Airdrops might reward community members who support green technology and innovations.
12. PUFFER: This could be an NFT or gaming project, where airdrops are used to distribute unique tokens or digital assets to early backers or players in the ecosystem.
13. SWELL: #Swell likely pertains to a liquidity or DeFi protocol where airdrops are used to attract liquidity providers or participants in staking and farming activities.
For specific details regarding these projects and their pre-market airdrops, it's best to follow their official announcements on social media platforms, project websites, and cryptocurrency forums like Twitter, Discord, or Telegram.

ConsenSys, the team behind the popular Metamask wallet, has announced the launch of its zkEVM testnet network, now called Linea, after a successful private testing phase. Linea is a Layer 2 (L2) solution built on zero-knowledge technology that is fully compatible with the Ethereum network, providing developers with a seamless experience in building decentralized applications (dapps).

The launch of Linea is expected to help Ethereum scale by providing a high-performance infrastructure to support the development of dapps. Linea is designed to empower Ethereum builders to innovate without worrying about the limitations of cost or scalability. By offering faster transaction speeds, reduced gas costs, and native integrations with popular tools like MetaMask and Truffle, ConsenSys has made it easy for developers to focus solely on innovation.

The zkEVM protocol ensures that developers can create scalable dapps or migrate existing ones without changing the code or rewriting smart contracts. Linea is also highly composable, offering flexibility and scalability to developers who are not experts in zero-knowledge technology.

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During the private testing phase, Linea surpassed expectations, with over 1.5 million transactions completed in just a few weeks. ConsenSys is grateful for the contributions of its early partners and testers who helped shape and prepare Linea.

ConsenSys has always aimed to build Ethereum and make web3 universally useful and accessible. In line with this spirit, Linea is designed to provide a seamless developer experience on an L2 network. To encourage developers to build on Linea, the company has made it available as a default testnet option on the MetaMask extension.

The launch of Linea is a significant milestone for ConsenSys and the Ethereum ecosystem. As the community works towards scaling Ethereum and fulfilling the promise of Ethereum 2.0, Linea represents an important step towards achieving this goal. Developers who want to build innovative dapps on a high-performance infrastructure should check out Linea today.

#ConsenSys #Linea #zkEVM #Ethereum #azcoinnews

This article was republished from azcoinnews.com