This article was paid for*

A new multi-chain meme coin – Base Dawgz ($DAWGZ) – has raised over $1.75 million in its ongoing presale and is well on its way to hitting the $2 million milestone over the coming days. 

Despite the crypto market crash and the weakness in large-cap altcoins, experts remain highly optimistic regarding the long-term prospects of the meme coin sector.

Popular crypto investor Whale Everything (@WhaleEverything) projects that meme coins are set to start their next bull rally in the coming days. 

Memecoins About To Pump.

— WHALE EVERYTHING (@WhaleEverything) June 18, 2024

Similarly, PetaByte (@PetaByteCapital) – a popular analyst with over 70k followers on X – believes that the next wave up for meme coins would be “life-changing”. 

The next wave upwards on meme coins is going to be life changing.

Nothing else will print like memes.

— Peta₿yte (@PetaByteCapital) June 17, 2024

Experts also believe that Base Dawgz could be one of the top-performing tokens once the bull market starts, making it one of the best meme coins to buy in the current dip. 

Is Base Dawgz One Of The Best Meme Coins To Buy The Dip

Base Dawgz has been witnessing strong demand from the very start of its presale, both from smart money investors and retailers alike. After all, it has already raised over $1.75 million in just over two weeks, signalling high upside price potential. 

As such, meme coins on the Base chain are in the spotlight, especially after Brett’s explosive price rally over the past month. Despite the significant selling pressure on the meme coin market, BRETT is up by over 200% in the past 30 days. 

The message is quite clear – Base meme coins have the same unique selling points as their Solana counterparts, i.e. low trading fees and high scalability. Furthermore, Base – being a Layer-2 venture of Coinbase – could see much higher user adoption. 

Smart money traders have identified that the Base meme coin meta is still in its early days. Indeed, Brett is the only meme coin with a market capitalization of over $1 billion while only two other Base tokens have a valuation north of $100 million. Interestingly, none of the three are dog-themed meme coins. 

Consequently, Base Dawgz could see substantial interest amongst meme coin enthusiasts, as is already evident from its presale. 

To further increase its visibility and brand awareness amongst potential investors, DAWGZ has adopted a multi-chain status. Besides Base, the new meme coin is live on Ethereum, Solana, Avalanche and BNB Smart Chain.

Every blockchain has its own DEXs, CEXs and meme coin trackers. The developer team behind DAWGZ has revealed that it would look to launch the meme coin on as many such platforms as possible, thus maximizing its upside potential. 

Owing to its multi-chain status, Base Dawgz has already drawn comparisons to Brett from experts.

DAWGZ Boasts Strong Fundamentals With Its Innovative Share-to-Earn, Staking Protocol

Being a high-utility meme coin, Base Dawgz is looking to build strong community backing rather than banking on hype alone, further establishing itself as one of the best meme coins to buy.

For instance, it has introduced a revolutionary share-to-earn concept, which will reward investors for increasing the meme coin’s popularity online. They can share DAWGZ-related content on social media – whether it be memes or the latest updates – and earn free crypto. 

Similarly, investors can create their own referral link from the Base Dawgz website and receive a percentage of the investment made through it during the presale. 

Finally, token holders can stake their holdings in the Base Dawgz stake-to-earn protocol and earn attractive passive income. Interested participants can follow the project on its X or Telegram accounts and be the first to know when the staking program goes live on Ethereum.

How to Buy DAWGZ Before Its Presale Price Increases

The Base Dawgz presale has adopted a multi-tier approach to reward the early buyers. As a result, the meme coin’s price increases after the conclusion of each presale stage. 

The next price hike is scheduled for June 25th, leaving interested buyers a little over 6 days to buy the token. 

They can visit the Base Dawgz presale website and connect their wallets using the over-the-counter widget. 

Owing to its meme coin nature, investors can buy DAWGZ by swapping any of ETH, BNB, USDT, AVAX or SOL. Alternatively, they can also use a bank card. 

Visit Base Dawgz Presale

*Cryptonomist did not write the article or test the platform.

The recent decline in AI-related crypto is accompanied by a spike in searches on Google by retail investors. Historically, such increases in search queries have occurred at market peaks. 

Thus confirming the mantra of the legendary investor Warren Buffet: buy during crises and sell during boom periods. This phenomenon suggests that the growing interest could herald significant changes in the cryptocurrency market linked to artificial intelligence.

Let’s see all the details below. 

Crypto and AI research on Google: ‘search peaks correspond to market highs’

As anticipated, the crypto markets related to artificial intelligence (AI) are experiencing a period of turbulence, reflecting a dynamic observed in the peaks of searches on Google. 

This phenomenon not only illustrates the investment theory of Warren Buffet, but also signals a possible change in investor sentiment.

In the last seven days, tokens like FET, RNDR, TAO, and GRT have recorded significant losses of up to 30%, according to Coingecko.

In contrast, Bitcoin has shown a more moderate loss of 2.8% in the same period, while the CoinDesk 20 (CD20) index has highlighted a decline of 6%.

Google Trends has reported a spike in interest for artificial intelligence, with the query “AI” reaching an index of 100 last week, the highest level in the past 12 months. 

This growing interest reflects the enthusiasm of retail investors towards AI and the focus on companies like Nvidia (NVDA), a leader in the chip sector.

These developments could suggest a phase of euphoria that could soon reverse, according to experts like Jeremy Grantham of GMO. 

The analysis of search peaks and market movements can serve as a warning for investors, encouraging them to consider their investment decisions with caution while the criptovalute AI market continues to evolve.

Srinivasan: the future of crypto in the era of artificial intelligence

Balaji Srinivasan, a well-known former executive of Coinbase, recently expressed a bold perspective on the future of cryptocurrencies in the era of artificial intelligence (AI). 

With his following of millions on X, Srinivasan outlines a future where cryptocurrencies serve as essential money to manage the digital abundance brought by AI.

Srinivasan distinguishes between “digital scarcity,” represented by cryptocurrencies, and “digital abundance,” represented by artificial intelligence.

According to him, while AI can increase abundance in various sectors, the digital scarcity of cryptocurrencies remains crucial to ensure authenticity and security in a world dominated by digitalization.

In particular, Srinivasan highlights three main reasons why cryptocurrencies will be fundamental in the era of AI. First, scarcity and authentication. 

Cryptocurrencies serve as a scarce cryptographic resource to authenticate human identity, especially when AI can easily simulate humanity. Second, the role of money. 

As a bridge between economic actors, money (expressed in cryptocurrencies) remains essential for economic transactions, even in a world dominated by robots and artificial intelligence.

Finally, persistence of scarcity. Despite the abundance in many areas, Srinivasan believes that high-level forms of scarcity, such as cryptographic private keys, will be indispensable to maintain control and security over automated systems.

Security and future of cryptocurrencies

Srinivasan argues that blockchain come Bitcoin (BTC) and Ethereum (ETH) offer superior security compared to web2 systems, essential for managing the integrity and protection of transactions in the evolving web3 ecosystem.

His vision emphasizes the importance of decentralized infrastructures to support innovation in the era of artificial intelligence.

These ideas of Srinivasan place cryptocurrencies at the center of the digital future, promoting a crucial dialogue on how blockchain technology can shape our way of interacting with emerging artificial intelligence.

This article was paid for*

Large-cap cryptocurrencies continue to bleed under strong selling pressure, with altcoins bearing the brunt of today’s crypto market crash. 

While Bitcoin remains range-bound between the $64,000 and $66,000 levels, the altcoin capitulation today has resulted in tokens such as Worldcoin (WLD), Dogwifhat (WIF) and Bonk (BONK) correcting by over 10%. 

Amidst this broader market bearishness, new meme coins are again emerging as promising alternatives. Low-cap tokens such as ChuanPu, PlayDoge and Billy have seen significant growth over the past few days and look poised for a strong bullish continuation. 

Why is the Crypto Market Crashing Today?

The crypto market has been unable to recover from the hawkish FOMC meeting last Wednesday. The Federal Reserve is now forecasting one interest rate hike in its Survey of Economic Projections (SEP), instead of the previously expected two cuts, which is a decidedly beairsh scenario for the crypto market. 

However, the ongoing crypto market crash is even more perplexing when considering the strength in US stocks and equities. Both S&P 500 and NASDAQ 100 reached new all-time highs on Monday. 

Typically, Bitcoin shows strong correlation with equities. However, the Bitcoin price failed to hold above the $66k support level and could be visiting the $60k – $61k range over the coming days. 

Large-cap altcoins are even underperforming BTC. For instance, AI cryptocurrencies are continuing their weak showing today on Tuesday, with the sector leader NEAR Protocol down 12.3% over the past 24 hours. Render, Bittensor and Injective have all crashed by more than 10% over the same period.

Large-cap and mid-cap meme coins are not faring any better. Market leaders Dogecoin and Shiba Inu are down by 11%, while Solana meme coins such as Dogwifhat and Bonk have dipped closer to 15% today on Tuesday. 

Meme coin investors would hope that Dogecoin could hold the $0.106 support. A failure to do so could present the max pain scenario for both Doge and the rest of the sector. 

How Can The Crypto Market Bounce Back?

Despite the weakness in the cryptocurrency market, experts believe that the bull market is nowhere near over. 

For instance, technical analyst Yoddha believes that the ongoing crypto market crash and altcoin capitulation is simply a shake down before the “up only” rally. 

#Altcoins

I still believe this major pullback on Alts is the last leg down to shake the last man standing.

Up only can start anytime soon. pic.twitter.com/IiFJ6PE83Y

— Yoddha (@CryptoYoddha) June 18, 2024

Analysts are highlighting the plethora of upcoming catalysts that could kickstart a bullish reversal. For instance, Bloomberg analysts expect spot Ethereum ETFs to start trading from July 2nd. 

UPDATE: we are moving up our over/under date for the launch of spot Ether ETF to July 2nd, hearing the Staff sent issuers comments on S-1s today, and they're pretty light, nothing major, asking for them back in a week. Decent chance they work to declare them effective the next… https://t.co/XJZ8JLwEFF

— Eric Balchunas (@EricBalchunas) June 14, 2024

Similarly, the Federal Reserve is expected to cut its benchmark rate at least once this year, which woud likely create weakness in the US Dollar, a decidedly bullish scenario for the altcoins. 

Analyst CRG (@MacroCRG) reveals that the dollar is loosing strength after positive US Retail Sales data for May. If the trend continues, it could mark the local bottom for Bitcoin. 

USD getting sold on this data

Importantly USDCNH

If it sticks we'll have our BTC bottom https://t.co/Pgap3vqBRJ

— CRG (@MacroCRG) June 18, 2024

New Meme Coins Explode

New meme coins continue to surge in demand, especially owing to the weakness in large-cap altcoins. 

For instance, a new meme coin ChuanPu has exploded by 23% today, even as larger meme tokens such as Dogecoin and Shiba Inu crashed by over 10%. 

Interestingly, CHUANPU still have a market capitalization of under $18 million and could still offer significant returns if it sustains its bullish trajectory. 

Similarly, a new Solana meme coin Billy displayed 1000x growth in a day. 

$billy 1000x is wild

why do these things happen while im asleep??

— molu (@moludotsol) June 17, 2024

While ChuanPu and Billy have already exploded, play-to-earn meme coin PlayDoge is still in its presale stage. 

The token has already raised close to $5 million in its ICO, thanks to its beginner-friendly game, which experts are calling the modern version of Tamagotchi. 

Indeed, players get to own Doge at their pet Tamagotchi-style, except through a smartphone rather than a handheld toy. As an added benefit, they can earn free crypto for completing a series of classic 2D games. 

PlayDoge’s strong fundamentals has already drawn comparisons to Floki, with a few experts calling it the next 100x meme coin.

*Cryptonomist did not write the article or test the platform.

The crypto wallet MetaMask has recently implemented a series of updates and new features that enhance user privacy. 

These changes allow users to customize their portfolios according to their privacy preferences, offering greater control over the information shared and the security of transactions. Let’s see all the details below. 

The new features of the MetaMask crypto wallet offer more options for privacy customization

As anticipated, Consensys, the company behind MetaMask, has recently revisited its privacy policy to strengthen user consent, transparency, and control over personal data.

According to a press release, these changes are designed to implement enhanced privacy and security measures for all services offered by Consensys, including MetaMask: 

“Being a blockchain software company with the mission to unlock the collaborative power of communities and make Web3 accessible and easy to use for everyone, we understand the importance of privacy.”

This commitment translates into a series of significant updates to the company’s privacy policy.

Consensys has improved the transparency in the handling of IP (Internet Protocol) addresses and expanded the scope of the privacy policy. This is to include services such as MetaMask Institutional, MetaMask Developer, Linea, Teku, Besu, and Phosphor. 

Furthermore, a new opt-out feature has been introduced for privacy-conscious users, offering them the possibility to further limit the collection of their device information and its usage. As explained: 

“Regarding IP addresses, in particular, we can temporarily process the user’s IP address only if necessary for some of our Services (depending on MetaMask settings) to ensure the best possible experience for users. This includes, for example, the prevention of DDoS attacks.”

For those who wish to maximize their privacy, Consensys recommends the use of private virtual networks (VPN). These networks can help further limit the collection of data related to the device and usage, ensuring greater protection of personal information.

Data management in case of violation

A representative of Consensys explained the company’s protocol for managing IP addresses in case of a data breach:

“In case of a data breach, IP addresses will be treated the same way as any other category of personal data. Our security team will act immediately to contain the incident and we will comply with all notification obligations related to the incident.”

These updates mark a significant step for Consensys in protecting user privacy, aligning with the company’s mission to make the Web3 more secure and accessible for everyone.

In addition to introducing new features, MetaMask has revisited its privacy policy to provide a clear and transparent summary of how it handles user information. 

Consensys, the company behind MetaMask, wanted to assure users of greater protection of their personal data, clarifying what it does and does not do with the information collected.

In its disclosure, MetaMask specifies that it does not collect users’ private keys, does not sell their personal information, and does not collect or store personal data unless it is strictly necessary to provide the requested services. 

Furthermore, MetaMask does not collect financial, payment, or banking information, ensuring users a high level of confidentiality and security.

Clarifications on the scope of application of privacy

Consensys has further clarified that the Codefi and Quorum platforms have been removed from the scope of MetaMask’s privacy policy. 

This change means that the information related to these services is no longer managed according to the terms of the MetaMask privacy policy. Thus offering users greater clarity on how and where their data is used.

These updates reflect Consensys’ commitment to ensuring security and transparency for MetaMask users. The company continues to improve its services to maintain user trust.

Monaco City, Monaco, June 18th, 2024, Chainwire

Memereum (MEME), a new altcoin, has demonstrated notable performance during its initial coin offering (ICO) presale, selling over 23 million tokens and nearing the 24 million mark. The project has attracted more than 8,000 users to its platform. While the Ethereum challenger, Solana, remains under the $150 price level.

The pre-sale began at $0.01 and by a strategic move by the team, is now at $0.039. Those who invested in Memereum at the beginning have seen their investments grow almost 400%. Memereum’s appeal stems from its unique position as the first blockchain insurance with its own insured decentralized exchange, MemeSwap.

Memereum (MEME) is currently priced at $0.039, but will launch at $0.45 on BitVenus, Toobit, Azbit, and MemeSwap, which is more than 10 times its original price. Memereum ICO also has automatic 183% APY staking for holders, along with free airdrop competitions.

Solana (SOL): Analysts Predict a Potential Rise To $215

Solana (SOL), one of the top altcoins in the crypto market, is experiencing mixed sentiment on the price chart, remaining under the $150 mark. According to CoinMarketCap, Solana has recorded losses of 9.71% on the weekly chart and shown losses of 14.65% on the monthly chart.

Despite the mixed sentiment, some predict that Solana’s price could rise to $215 in the coming weeks. Furthermore, Solana aims to carve out its niche in the digital asset space and establish itself as a rival to Ethereum.

About Memereum (MEME)

The strong interest in Memereum (MEME) can be attributed to its innovative approach in the blockchain sector and its growing community support. Similarly, Solana is currently experiencing mixed market sentiment but continues to be an active participant in the market.

Users can click here to join Memereum’s ongoing presale.

Contact

Bessie Cooper
Memereum
support@memereum.net

Denver, United States, June 18th, 2024, Chainwire

Renzo, the Liquid Restaking Protocol, today announced $17M in funding. As of today, nearly $4B is already restaked with Renzo. The funding, which took place across two rounds, was first led by Galaxy Ventures and the second round led by the Nova Fund – BH Digital (based in Abu Dhabi). This follows $3.2m of funding previously via Maven11, Figment Capital and Binance Labs. 

Restaking is rapidly becoming a core pillar for scaling security on Ethereum, but it’s complicated, risky and expensive thus hindering user growth. Renzo, built on EigenLayer, is being built to make restaking accessible and easy, and its new funding round will expand its restaking services.

Renzo acts as a secure user-friendly interface to the EigenLayer ecosystem, securing AVS (Actively Validated Services) and accessing restaking rewards while simplifying the process and allowing for secure integrations with node operators.

“Restaking will be inclusive of all assets, ETH and ERC-20’s, as dual staking adoption grows Renzo is building the settlement layer for restaking,” said Lucas Kozinski, Founding Contributor.

Renzo allows users to deposit native ETH, stETH and wBETH (LSTs) and get access to EigenLayer. Renzo runs a distributed Ethereum validator infrastructure powered by Figment, P2P.org and Hashkey Cloud to enable unrestricted participation on Eigenlayer.

It is accessible from Arbitrum, Base, Blast, Linea, Mode and BNB Chain with over 100 DeFi integrations.  

“Renzo differentiates itself from other protocols by fundamentally building its system with restaking in mind, in contrast to traditional staking protocols that are merely adapting to restaking,” said Will Nuelle, General Partner of Galaxy Ventures. “What sets Renzo apart is its unique ability to accept both native ETH and Liquid Staking Tokens (LSTs). This capability allows Renzo to foster collaboration with existing market players and ensures a smooth, user-friendly process for participants.”

About Renzo

Renzo is the restaking hub of EigenLayer built to streamline and expand access to the most intelligent Liquid Restaking strategies. Powered by institutional-grade node operators, Renzo abstracts away the complexities of securing Actively Validated Services (AVS) while delivering a powerful interface for risk management and rewards tracking on EigenLayer. With Renzo’s ezETH—the most integrated Liquid Restaking Token (LRT)—users can access broad exposure to the EigenLayer (and Ethereum) ecosystems with more opportunities to generate rewards. Uses can earn more by visiting https://www.renzoprotocol.com/

Contact

Contributor
Lukasz Kozinski
Renzo Labs
Lucas@renzoprotocol.com

SPONSORED POST*

While mainstream crypto tokens and their relentless price swings often dominate the headlines, savvy investors know that the true opportunities for extraordinary returns lie in lesser-known, innovative projects that fly under the radar.

In this overview, we’re shining a light on three such hidden gems in the crypto space – RCO Finance (RCOF), Near Protocol (NEAR), and PAAL AI (PAAL) – all of which are DeFi and AI coins demonstrating the potential to deliver up to 3,000% returns for investors.

RCO Finance: Quietly Revolutionizing Investments with AI Power

RCO Finance (RCOF) is an emerging player in the crypto market that is transforming financial investments through its decentralized trading platform, which features an advanced AI-powered robo-advisor. This tool uses sophisticated AI algorithms and fully automated machine learning (ML) to enhance investors’ trading decisions in a volatile crypto market.

Another key feature of RCO Finance (RCOF) is that it seamlessly converts digital assets into real-world assets like stocks, bonds, and real estate. By offering up to 1000x leverage with no KYC requirements, RCOF ensures accessibility for users regardless of their background or location.

Moreover, RCO Finance (RCOF) is an attractive investment option for savvy crypto investors not only because it offers a wide range of over 120,000 tradable assets globally but also due to its lower trading costs and enhanced portfolio diversity.

PAAL Forges Strategic Partnerships To Fuel Resurgence

PAAL AI (PAAL) is an advanced chatbot built on AI technology. It is designed to streamline tasks that typically require human intellect, such as image recognition and problem-solving. Following the overall market surge, its native token reached an all-time high of $0.86 in March. 

However, PAAL’s journey encountered challenges after its peak, as market manipulation concerns marred its token trajectory. Despite maintaining a bullish trajectory for nearly a year, the token plummeted by over 60%.

Although PAAL is showing promising signs of another bull run, its recent collaborations with TON mixer and Block Social Network have reignited optimism among experts who predict that it could set a new peak before the end of 2024.

NEAR Protocol: Unveiling the Potential Surge Ahead

NEAR Protocol (NEAR) has grabbed substantial investor interest, risen to the top of Google searches, and exhibited strong activity data on the blockchain analytics platform DappRadar. Market observers believe its price may shoot up at any time, as noted by various experts who forecast a potential price increase of up to $16 despite recent dips.

NEAR’s strong core values are the key reason for this positive analysis. Its developer-friendly architecture, focus on decentralized finance (DeFi), and active ecosystem with popular DApps like Kai-Ching and Hot Wallet highlight its potential.

While skeptics warn that the hype on Google trends about NEAR Protocol cannot assure investors of lasting profits, experts estimate that NEAR will likely continue to rise in the coming months. 

Unlock Your DeFi Future: Join RCO Finance’s Presale Now!

Investors longing to enter the DeFi market are being offered an appealing opportunity through the presale currently conducted by RCO Finance (RCOF). In Stage 1, RCOF presale tokens are trading at an altcoin price of $0.0127, with an additional 30% discount available using the code ‘RCOF30’.

RCO Finance’s (RCOF) tokenomics encourages sustainability and long-term growth through deflation, enhancing scarcity and driving value appreciation. 

An enticing aspect of the crypto trading platform is that investors can access benefits such as low interest rates when they borrow or lend money and significant discount rates on trading fees.

Moreover, over 24 million tokens were purchased in the first stage alone, indicating strong investor confidence. With projections of RCOF tokens listing at $0.4 or $0.6, investors can anticipate a return on investment of over 3000%. Take advantage of this once-in-a-lifetime opportunity! 

For more information about the RCO Finance (RCOF) Presale:

Visit RCO Finance Presale

Join The RCO Finance Community

*This article was paid for. Cryptonomist did not write the article or test the platform.

New York, USA, June 18th, 2024, Chainwire

An Indispensable Lifestyle Accessory for Wellness and Tech Lovers

CUDIS, a wearables technology company, is announcing the launch of an innovative smart ring that collects users’ health metrics and generates insights through a personalized AI coach. By integrating both Web3 and AI technology, CUDIS is creating a new generation of smart rings that offer users monetizable rewards and personal ownership of their wellness data. The first generation of CUDIS Rings is now available for pre-orders.

“This is a new era for wellness wearables,” said Edison Chen, co-founder and CEO of CUDIS. “It’s time to challenge the status quo where companies own our health data and use it at their disposal without rewarding individuals. The CUDIS ring offers so much more value through a personal AI coach, community and family data sharing, wellness management, monetization opportunities, unique gamified rewards, and much more. We’re excited for people to try it.”

Elevating Personal Wellness With User-Owned, Monetizable Data

CUDIS goes beyond traditional activity trackers with a personalized AI coach that transforms daily health data into actionable, valuable insights personalized for each user. This includes monitoring of heart rate, sleep, stress, strain, and calories burned. The personal health data is owned directly by the user, not the company, and is securely stored and anonymized on the blockchain, ensuring privacy and portability. CUDIS provides users with a unique opportunity to monetize their personal health information by opting in to make it available to a decentralized data research hub. This encourages developers and health companies to innovate within the wellness ecosystem.

Availability and Pre-Orders

CUDIS’s initial pre-order batch of 1,500 rings quickly exceeded expectations, becoming oversubscribed just 10 days after launch and expanding the community to 23,000 members across 55 countries. The company plans to roll out another batch of 8,500 rings in Q2 and has a goal to release over a million more in subsequent tranches over the next 18 months. The CUDIS app is now available on iOS and soon to be released on Android, and the Solana Saga Mobile App store.

Incentivizing Good Habits and Building Community with Crypto Rewards

The CUDIS Ring features a sleek, minimal design, crafted from high-quality materials such as titanium and ceramic, and it’s compatible with cutting-edge devices like the Solana Saga phone and Crypto Kicks by Nike & RTFKT, making it a perfect addition to any digital-driven lifestyle. All Web3 functionalities of the CUDIS ring are hosted on the Solana blockchain. 

Designed for the modern health-conscious individual, CUDIS tracks essential biometrics and introduces a unique rewards system to enhance user engagement through gamified health challenges. CUDIS will host contests and challenges on social media and within the application where players can win and collect points. Daily usage of the ring and application, will also be rewarded with points. the CUDIS wellness program will also be launched, supported by a points system that rewards engagement and commitment across eight dimensions of wellness: emotional, physical, occupational, social, spiritual, intellectual, environmental, and financial. Users can earn points through various activities, such as purchasing the ring, inviting new members, daily wear, obtaining ample sleep, exercising, and interacting with the customized in-app CUDIS wellness coach. 

By incentivizing and gamifying the wellness journey, CUDIS aims to promote habits that enhance the quality of life for all. Go to https://www.cudis.xyz/buy to order your CUDIS ring today.

About CUDIS

Cudis revolutionizes wearable technology, providing comprehensive wellness monitoring and personalized AI coaching. We empower users to own and monetize their health data, fostering a healthier generation of smart ring users.

Users can learn more: Website | X

Contact

PR Director
Karla Vilhelem
Multiplied
karla@multipliedhq.com

Today, for the first time ever, NFT sales on Bitcoin since their launch last year with the Ordinals protocol, have surpassed the threshold of 4.27 billion dollars, exceeding the all-time sales recorded by the Ronin blockchain.

This is an incredible result if we consider that the non-fungible tokens developed on Bitcoin completely lack utility and integration with real products, while those on Ronin are involved in a much more dynamic gaming context.

Let’s see all the details below. 

NFT on Bitcoin: sales of 4.27 billion dollars, higher than those of Ronin

According to the data reported by the CryptoSlam platform, the so-called “all time sales” (that is, the sales since day 0) of NFTs developed on Bitcoin have surpassed those recorded by the Ronin blockchain.

It is worth noting how the latter, known for hosting the game Axie Infinity so loved by the Filipino population, was born in March 2018 while Bitcoin started minting NFTs only from January 2023.

In just 18 months, the trend of non-fungible tokens on the main cryptographic network of the crypto world, emerged thanks to the introduction of the Ordinals protocol, has led to total sales of 4.278 billion dollars, of which 84,000 dollars derived from wash trading activities, with the threshold of 4 billion reached on June 4, 2024.

The Ronin chain up to today has recorded sales of 4.271 billion dollars, falling to 4th position in the ranking of the most profitable networks of all time in this regard.

Now on the podium above Bitcoin, only Solana with all-time volumes of 5.6 billion dollars, and Ethereum with 43.8 billion dollars remain.

Source: https://www.cryptoslam.io

Despite the milestone achieved, the broader NFT market has recorded very low sales volumes in recent months, with a sharp drop in numbers in May compared to April.

In the last 30 days, the data has shown a decrease of 51.3%, bringing total sales to 525 million dollars.

The Bitcoin blockchain is not missing from the list of networks that have experienced a decline in trading activity: NFT sales on the orange chain fell yesterday below the threshold of 2.5 million dollars daily, marking one of the lowest values since November 2023.

Below is the chart of the trend of non-fungible token trading on the Bitcoin network.

Source: https://en.cryptonomist.ch/categoria/crypto/bitcoin-en/?timeFrame=year

Despite this, even in the monthly ranking Bitcoin is positioned in 2nd place with 148 million dollars, even surpassing Solana which in the same period recorded just 77 million dollars.

in this juncture Ronin drops to 9th position with a total of 3.3 million dollars, an incredibly low value if compared to the record set in August 2021 when the chain processed NFT sales for over 869 million dollars.

Source: https://www.cryptoslam.io/

The Non-Fungible Tokens developed on Bitcoin lack utility and are not related to the blockchain gaming sector

While NFTs on Bitcoin are performing better than other non-fungible tokens developed on different blockchains, some observe that these lack utility and represent a degrading practice for the world’s most famous and decentralized cryptographic network.

In this regard, Jeff Zirlin, co-founder of Sky Mavis, the team behind the Ronin network, believes that NFTs created on Bitcoin thanks to the “digital artifacts” from Ordinals, do not have an adoption typical of resources related to gaming ecosystems. These are his words in a recent interview:

“We have not paid too much attention to Bitcoin NFTs because they are still primitive and not related to games. In general, greater adoption of NFTs is good and we are more competitive with ecosystems that specifically focus on games.”

In fact, NFTs on Bitcoin primarily enjoy the reputation of the underlying blockchain, but they do not introduce anything new to the on-chain finance sector and are not an integral part of gaming systems like Ronin with Axie Infinity.

Zirlin then emphasized how the recent declining sales volumes recorded behind their own infrastructure are justified by an increase in the costs of acquiring new users.

In the future, incentives with the public and the relationships that will be established with the community will allow for more enduring games and more solid financial income.

So you want to play a…crypto game?

Good news, the @Ronin_Network has you covered!
From highly competitive to super casual, top down shooters to farming sims, gamers around the globe are starting to find their homes on this L2.

Let's dive into some of the most popular games &… pic.twitter.com/rlO3ScWxRn

— Tr3vor (@tr3vorx) June 10, 2024

The Ordinals technology, as primitive as it may be, has been praised by the maximalist Michael Saylor as a true innovation, to the point of pushing him to create a decentralized identity service called “MicroStrategy Orange”.

The true Bitcoin experts, however, such as the developer of BullBitcoin.com, believe that Ordinals and their NFTs are one of the stupidest things ever invented so far.

Often these resources are then linked to crypto scams and scam of various types, or to structures for laundering money from illegal activities.

Using inscriptions to create digital IDs on Bitcoin is so retarded that I'm not concerned it will go away. Saylor is doing it because BMag people hyped inscriptions as cool and edgy tech.

Its even more dumb then ordinals because at least with ordinals you can do scams.

— FRANCIS – BULLBITCOIN.COM (@francispouliot_) May 2, 2024

If we then return to the discussion of “utility” and integration in the gaming sector, it becomes evident how NFTs on Bitcoin have no value other than that related to market speculation, as they are not technologically more advanced compared to NFTs developed on EVM networks and have no use in the real world.

Furthermore, we remind that this kind of resources clog the mempool of Bitcoin and significantly increase the gas cost of the network, offering a limited user experience, in exchange for a slight increase in profitability for the miners.

Bitcoin was created as a layer for the trustless transfer of the BTC currency, and it should, according to the opinion of many experts, remain so aiming to increase privacy, scalability, and decentralization rather than being used in much more niche contexts.

7/ If Bitcoin managed to do barely working NFTs, could Bitcoin do something else?

YES!

Run petrock, run! pic.twitter.com/yjfV2nStKd

— Mikko Ohtamaa (@moo9000) March 4, 2024

The saga on FTX, the crypto-exchange that failed in 2022, continues, with its victims claiming that the bankruptcy process seems to be a “second act of theft.” The victims have also filed a petition to recover 8 billion dollars of confiscated assets. 

FTX: the bankruptcy process of the crypto-exchange is a second theft

The victims of FTX, the failed crypto-exchange, are unleashing, considering the ongoing bankruptcy process as a “second act of theft”. 

In fact, the lawyers of the victims seem to have filed a petition to recover 8 billion dollars of confiscated assets. 

Specifically, what the victims of FTX desire is for a ruling to establish that the confiscated assets of the crypto-exchange (approximately 8 billion dollars) belong to its clients and not to the bankruptcy estate. 

This happens mainly because the bankruptcy code is giving priority to some creditors over others, and the holders of the FTX token are at the bottom of the priority list.

Not only that, another triggering factor dates back to the restoration plan proposed by the company last month, which would have seen 98% of the creditors obtain 118% of their credits within 60 days of court approval. 

However, this plan did not convince the victims who still lost the opportunity to profit from the price increase of criptovalute, while their funds were stuck in the limbo of bankruptcy.

FTX and the rebellion of the victims in the bankruptcy trial of the crypto-exchange

The request was submitted on Friday to the United States Court for the Southern District of New York. 

The lawyers for the victims, Adam Moskowitz and David Boies, stated in the document that the bankruptcy process has left “FTX customers feeling ‘assaulted and robbed’, many of whom view the bankruptcy process as a ‘second act of theft‘ and that the ‘FTX bankruptcy estate remains the same fraudulent business entity’ that was the enterprise run by SBF“.

Not by chance, Sam Bankman-Fried (SBF), former CEO of FTX, was sentenced to 25 years in prison for fraud and other charges. Here is how the document states: 

“If it hadn’t been for the crimes of SBF for which he was convicted – namely theft and misuse of customer assets – customers would today be in possession of their cryptocurrency investments”

The misfortune among misfortunes, in fact, lies precisely in the fact that FTX filed for bankruptcy in 2022, in the midst of the “long crypto winter”. Customers lost the opportunity to see their investments grow thanks to the bull run of the past year. 

Just think that BTC was worth the minimum of $16,000 in November 2022, against the current $65,000, and therefore there has been a price increase of over 4x. 

The sales of Solana (SOL)

At the end of last month, news had leaked that the bankruptcy trustee of the FTX group had put several SOL up for auction at a heavily discounted price.

There is talk of an overall sale of SOL amounting to 2.6 billion dollars, even though the purchase price is significantly lower than that of the Solana crypto.

To give an example, on a purchase price of $100, the bankruptcy process of FTX auctioned SOL tokens at a price of $165

Paris, France, June 18th, 2024, Chainwire

LibertAI’s Native Cryptocurrency Will Unlock Premium Features and Reward Its Developers and Users

LibertAI, the decentralized AI platform built on the Aleph.im decentralized cloud computing network, is excited to announce the integration of its native token on Coinbase’s Layer 2 blockchain, Base. LibertAI sets new standards for AI development and adoption by addressing core industry challenges through privacy prioritization, open-source development, and a robust decentralized infrastructure.

The AI landscape is dominated by monopolistic private companies, where issues like spying, bias, censorship, and data breaches are common. Developers are limited by the lack of transparency, flexibility and high costs associated with computational power. 

“To compete with the large monopolistic companies dominating the AI industry, we need more awareness around AI privacy and the right foundations to enable this vision. It’s a big challenge that we’re undertaking, and by leveraging some of the most thriving ecosystems like Base by Coinbase, we hope to achieve this level of awareness with a mainstream audience”, said Jonathan Schemoul, lead contributor to LibertAI and co-founder of aleph.im.

AI Ecosystem Powered by Base, Coinbase’s Layer-2 and aleph.im computing DePIN

LibertAI first launched a chat app and APIs to offer offers an open-source and private alternative to ChatGPT and Meta AI; gathering over 1.7 million successful text completions on its LLMs.

LibertAI is now deploying a full-fledged ecosystem to enable open-source development of hybrid AI and Web3 applications, which includes:

AI Engine: The core network powering various AI functionalities with open-source models for creating personalized AI personas and native web3 applications. Thanks to its native crypto rails and programmability this AI engine can fully automate workflows, access computing power more easily and even empower AI agents to pay for their computing resources.

AI Agents Framework: Multiple personalized GPTs performing specific assigned tasks.

Confidential Inference: LibertAI ensures data is always encrypted and privately stored on distributed computing networks. The platform’s integration with Aleph.im computing DePIN secures the mapping and training of AI data, and offers distributed CPU and GPU fpr cost-effective AI. Aleph.im counts esteemed clients and partners like Ubisoft, Synaps, and Request Network.

$LTAI Token: Facilitates native payment rails and extended decentralized financial applications (DeFi). The $LTAI token deployed on Base, grants access to advanced models and features, a personalized knowledge base, tiered API plans, rewards for hardware provisioning and model improvements, and the deployment of agents on the network.

Future Use Cases for LibertAI

Key applications empowered by LibertAI’s unique Web3 capabilities include securely processing private data for companies, provable AI decision-making for DAOs, AI-managed autonomous organizations, and creating NFTs with verified generative biographies for gaming.

LibertAI is deploying its native $LTAI token on Base, Coinbase’s Layer 2 network, to leverage its robust DeFi ecosystem. Base can support the automatic conversion of LibertAI into other tokens for payments, stablecoin conversion, and seamless payment flows using Superfluid. It also supports lending and borrowing of the LibertAI token, creating a self-sustaining economy for AI agents.

For more information, users can visit https://libertai.io/

About LibertAI

LibertAI a decentralized AI system, has the potential to be more secure, accessible, resilient, and efficient than a centralized system, while also reducing the risk of bias and protecting the privacy of users.Libertai large language models are running on a set of technologies such as IPFS in combination with aleph.im. It effectively runs on a fully decentralized, uncensored, secure and resilient computing network that is practically unstoppable.

About Aleph.im

Aleph.im is a decentralized physical infrastructure redefining data management and computing in the blockchain ecosystem. It ensures operational resilience for applications, particularly in AI, DeFi, and gaming industries. Aleph.im works with Ubisoft, Solana, Request Finance. Since 2020, its marketplace has provided scalable, high-performance Instances and Micro-Virtual Machines resources on several networks such as Ethereum (and its L2s), Avalanche Solana, Cosmos or Tezos.

Web: https://aleph.im 

Twitter: https://twitter.com/aleph_im 

Contact

PR Director
Karla Vilhelem
MarketWaves
karla@marketwaves.co

The understanding of macroeconomic policies is essential for traders and crypto investors, as these policies significantly influence market sentiment, investment flows, and the regulatory environment. 

The macroeconomic dynamics, such as inflation and interest rates, can determine the behavior of investors and the stability of the cryptocurrency market. This article will explore how macroeconomic policies impact the cryptocurrency landscape and why it is crucial for cryptocurrency investors to maintain a macroeconomic perspective.

Inflation, crypto, and macroeconomic policies on regulation

Inflation is one of the main macroeconomic concerns that influence financial markets, including criptovalute. In periods of high inflation, the purchasing power of fiat currency decreases, making investments in traditional instruments like bonds and savings accounts that offer lower real returns less attractive.

This scenario drives many investors to seek alternatives that can serve as a hedge against inflation, such as Bitcoin.

Bitcoin, often referred to as “digital gold,” is perceived as a long-term store of value. Its limited supply, fixed at 21 million units, makes it immune to inflation, unlike fiat currencies that can be printed in unlimited quantities by central banks. 

During periods of high inflation, the demand for Bitcoin and other cryptocurrencies tends to increase, pushing their prices upward.

The policies of central banks regarding interest rates have a direct impact on the cryptocurrency market.

Lower interest rates make money less expensive to borrow and lower the returns on savings, incentivizing investments in higher-yielding assets, including cryptocurrencies. This scenario can lead to an increase in demand and prices of cryptocurrencies.

On the contrary, when central banks increase interest rates, the cost of money rises and the returns on savings become more attractive. This can induce investors to shift their funds towards more secure traditional investments, reducing the demand for cryptocurrencies and potentially depressing their prices.

Economic stability and market sentiment

During periods of economic stability, investors tend to prefer safer traditional investments, such as stocks, bonds, and real estate. The cryptocurrency market, known for its volatility, can become less attractive in such periods. However, in times of economic uncertainty or financial crisis, cryptocurrencies can become a safe haven for investors seeking diversification and protection against fluctuations in traditional markets.

For example, during the financial crisis of 2008 and the subsequent European sovereign debt crisis, interest in Bitcoin increased significantly. Investors were looking for alternatives that were not tied to traditional financial systems, leading to a significant growth in the cryptocurrency market.

Fiscal policies, including government decisions on taxation and public spending, influence the overall economic trend and, consequently, the cryptocurrency market. An increase in taxes on cryptocurrencies or stricter regulations can disincentivize investors, reducing demand and liquidity in the market.

On the other hand, favorable policies such as the reduction of taxes on cryptocurrency transactions or the adoption of clear and transparent regulations can stimulate the adoption and investment in cryptocurrencies. For example, countries like Malta and Switzerland have implemented favorable regulations for cryptocurrencies, attracting numerous investors and companies in the sector.

The importance of macroeconomics for crypto investors

Understanding macroeconomics is crucial for cryptocurrency investors, as it allows them to anticipate market trends and make informed decisions. Monitoring inflation, interest rates, and fiscal policies helps investors predict how these variables can influence cryptocurrency prices.

Furthermore, having a macroeconomic vision allows investors to diversify their portfolios and better manage risks. During periods of economic instability, investors can choose to increase their exposure to cryptocurrencies to protect their capital, while in times of stability they can reduce exposure to mitigate volatility.

Macroeconomic policies play a fundamental role in determining the trend of the cryptocurrency market. Inflation, interest rates, economic stability, and fiscal policies influence the behavior of investors and the value of cryptocurrencies.

For traders and investors of cryptocurrencies, understanding and monitoring these macroeconomic dynamics is essential to successfully navigate the volatile cryptocurrency market and make informed investment decisions.

The debut of the crypto ZK, the new governance token of the ZKsync ecosystem, was not all roses and flowers: in the midst of one of the most anticipated airdrops in history, there were also many cases of scam.

First among all on X who, falsely impersonating the ZKsync team, invited to click on malicious dapp links resulting in the draining of users’ wallets.

There have been various complaints from users and protocols about a poorly decentralized launch, which benefited only a few.

All the details below.

ZK crypto listing: the token of ZKsync is inaugurated in the midst of a wave of scam 

The launch of the much-anticipated token of the ZKsync blockchain, namely ZK, was not free from the fictitious presence of crypto scam on the X platform.

Usually, when a new resource is launched in the crypto sector with a lot of enthusiasm, scammers thrive to try to attract naive or distracted users with the aim of robbing them with phishing, malware, and malicious dApp links.

After the announcement of the checker for the airdrop of ZK on Tuesday, June 11, the number of scams began to multiply, with several X accounts falsely impersonating the ZKsync team, waiting for some bull to pluck.

In particular, from that day, the Web3 security company Blockaid recorded a dramatic increase in the volume of malicious dApps targeting ZKsync, up to a 5-fold increase on the day of the crypto listing.

In this regard, the CEO of Blockaid  Ido Ben-Natan explained in a recent interview how these scams are set up and how they lead to the draining of users’ wallets, emphasizing that:

“The scams we are witnessing are impersonation scams: malicious dApps that use the ZK brand to trick users into signing malicious transactions. These malicious dApps use draining SDKs to mitigate detection and reach users”

Often this kind of scams use X profiles with a significant number of followers, with the same nickname/photo as the official ZKsync account, and with a similar “@”, in order to resemble the real entity as much as possible.

Generally then, they comment under the posts of real accounts (such as that of ZKsync) with posts increasingly crafted to perfection and with malicious links in plain sight, exploiting the potential inattention of users who might be deceived.

The same ZKNation, the governance section of the project, has admitted the high number of scams and the presence of individuals posing as insiders.

The attackers have taken advantage, and are still taking advantage of the FOMO for the launch of ZK, attracting users to malicious dApps.

Correction from the team: the addresses exist on the developer list, which is changing dynamically as devs are binding addresses.

They do not belong to ZKsync. Google them, you'll see.

Apologies to all. Intern needs to sleep.

Full details are coming. https://t.co/7ySrTqAjWE

— ZK Nation (@TheZKNation) June 12, 2024

Throughout all this, shortly before the launch, the ZKsync team observed a high load of requests and inefficient performance in some remote procedure call (RPC) services, contributing to creating confusion amidst the proliferation of scams.

The RPC are elements of the architecture of a blockchain that communicate with the nodes and execute the network operations requested by the users.

The team at the time of the inauguration of the crypto ZK, explained that the entire staff was working to increase the RPC capabilities, inviting to “stay tuned for updates.”

Now the congestion seems to have passed.

(1/2) The network is currently under high load. Some RPC services may experience degraded performance.

Teams are working to increase RPC capacities.

Stay tuned for updates.

— ZKsync (∎, ∆) (@zksync) June 17, 2024

A very discussed launch: ZKsync receives many criticisms from the community

Along with scams and technical issues, the listing of the ZK crypto on all the largest first-tier exchanges such as Binance, Bybit and Bitget was accompanied by a shitstorm of criticism from some of the same users/protocols of the ZKsync ecosystem, more precisely from those who received the airdrop.

Bringing here some examples we can mention the memecoin zkPEPE, which despite being natively developed on ZKsync and despite including the acronym “zk” in its own ticker, decided to rebrand to “ArbPEPE” and migrate to the Arbitrum chain after discovering it had not received any tokens as an incentive.

It is clear that this is a passive attitude towards the crypto environment and totally inadequate for the context.

ZKPEPE is moving from @zkSync to @arbitrum and will airdrop to all $ZKPEPE and $ARB holders!

ZKPEPE was launched in Nov 2023 during a market downturn. Many #zkSync users were reluctant to pay gas fees, leading to decreased activity in the zkSync eco. To encourage continued… pic.twitter.com/bvredSc4fy

— ArbPEPE (,) | Airdrop Soon (@arbpepereal) June 14, 2024

Another protocol that complained about the airdrop distribution being a little “fair” by the ZKsync team is the lending platform ZeroLend, which in a post on X explained how it was unfair not to reward a dapp that represents a cornerstone in the TVL of the chain. 

La ZKNation ha commentato dicendo di apprezzare il feedback, seppur negativo, ricordando però che ZeroLend ha scelto il competitor Linea per lanciare la propria crypto “ZERO” e dunque non dovrebbe lamentarsi se non è stata ricompensata con un’allocazione da airdrop.

On June 11th, 2024, @zkSync / @TheZKNation revealed the list of protocols eligible for developer incentives. ZeroLend, the largest lending protocol and the second-largest dApp at the time of the snapshot was omitted from this list.

—

ZeroLend’s contribution to zkSync Era from… pic.twitter.com/GBESPMktgv

— ZeroLend (@zerolendxyz) June 17, 2024

Many other users have shouted SCAM, using the hashtag #zkscam,  highlighting a token distribution that favored insiders and the team at the expense of the community. 

Even in this case, we are talking about simple “whims” advanced solely and exclusively by those who have not received any ZK tokens, as they were probably identified as sybil and because they are not very active and have little balance on the ZKsync chain.

Always be careful to understand the motivations that drive an individual to criticize a crypto project: many users were indeed satisfied with the airdrop, in these circumstances it is statistically impossible to please everyone.

SCAM ALERT $ZK token was distributed to insiders and team wallets. There's presumably a money laundering scheme involved, DYOR before interacting with the token!

See the proofs below, find more by searching #zkscamhttps://t.co/3z9IPgtlighttps://t.co/rJgEHr5PXb pic.twitter.com/lbGk711Uou

— 0xNobler (@CryptoNobler) June 15, 2024

A much more concrete problem, for which it would be appropriate to find an adequate solution, is the excessive centralization reached by the DEX Syncswap in the governance of ZKsync, having obtained delegations for about 25% of the ZK available on the market.

A possible solution is to invite users who have indicated Syncswap as the subject for the formal decisions of the project, to re-delegate their vote to themselves or to other cryptographic entities.

URGENT

It has come to our attention that @syncswap now controls 25% of the delegation pool, which is EXTREMELY alarming. @syncswap has been untrustworthy from the very beginning. They have consistently aimed to see other projects decline just to boost their success.… https://t.co/weARiiDCWv pic.twitter.com/uxQxFIHU1Z

— It's me, Zorro (∎, ∆) (@zkzorro) June 17, 2024

In the meantime ZK loses about 23% since the launch, with over 40% of the wallets holding the airdrop having already sold all their crypto stocks (data from Nansen), opening up a possible scenario of price recovery in the coming days.

Source: https://coinmarketcap.com/it/currencies/ZKsync/

Bril Finance is preparing to launch a cross-chain liquidity pool on the DeFi markets on the crypto DEX PancakeSwap based on AI (artificial intelligence). 

The new tool will be called CupcakeHop, and it will consist of a cross-chain liquidity pool and a yield aggregator. It has been developed in collaboration with the DEX PancakeSwap.

Crypto and DeFi: the new AI tool CupcakeHop coming to PancakeSwap 

CupcakeHop has not yet been released, but according to the developers of Bril Finance it could significantly transform the DeFi landscape.

CupcakeHop in fact, according to its developers, would have the ability to redefine the optimization of yield and cross-chain liquidity. 

This new protocol promises to simplify the DeFi for both novice and experienced investors, making high-yield opportunities more accessible.

They even promise that its advanced portfolio management and risk mitigation features, based on AI, will be destined to set new standards in the sector.

CupcakeHop is defined as a revolutionary cross-chain liquidity pool that aggregates yields from various sources, thus offering users the best rewards for their contributions to the liquidity pools.

Additionally, it will be equipped with an automated portfolio management system based on AI, which optimizes investment strategies in real-time, tailored to the user’s specific goals.

The fact of being developed in collaboration with PancakeSwap should ensure robust and easy-to-use functionalities.

The liquidity pool

A liquidity pool is made up of crypto funds locked in a smart contract that are used to facilitate trades within decentralized exchanges.

In fact, DeFi platforms usually use automated market makers (AMM) to enable crypto trading in an automatic and permissionless way, and liquidity pools allow AMMs to function correctly. 

Obviously, the more a DEX has to handle high trading volumes, the more it needs a lot of funds to be immobilized in its liquidity pools, and so they often try to attract as much liquidity as possible by providing incentives and returns to those who deposit their tokens in their liquidity pools. 

The problem is that not only on the same DEX there are multiple liquidity pools, but now there are also many DEX that operate on many chains. 

The most important DEX in the world, Uniswap, now operates on as many as 19 blockchains, and PancakeSwap on 9. 

Besides these two, which are the most famous, there are now hundreds of other DEX, such as Curve, Balancer, Raydium, and many others. 

Just think that out of 19 billion dollars of TVL immobilized overall on all the DEXs in the world, only 5.6 are on Uniswap, while on PancakeSwap there are 1.9 and on Curve almost 2. 

Navigating this world in search of the best returns is very complicated if done manually. 

The cross-chain research

For this reason, over time, several protocols have already emerged that allow for the search for the best returns, but they generally operate on a single chain. 

Protocols like the new CupcakeHop, on the other hand, search for the best yields simultaneously on multiple chains, exponentially increasing the potential to find the best ones. 

By now we are increasingly moving towards a cross-chain DeFi, that is, one that operates simultaneously on different chains with protocols that allow exchanges even between different blockchains. 

AI transforms the DeFi landscape: PancakeSwap will welcome the new cross-chain crypto pool 

CupcakeHop furthermore promises an AI-based automated portfolio management. 

In fact, even in the case of cross-chain management, it is practically impossible to keep up with the best returns, which in some cases change continuously, if operating manually. 

Therefore, it is not only useful for a yield research protocol to operate cross-chain, but also to allow automated management of fund allocation, so that they can be reallocated very quickly, if necessary or useful, to those DEX that offer better yields. 

It is necessary, however, to specify that it is not at all certain that artificial intelligence tools perform well, because regardless of correct functioning from a technical point of view (which is absolutely necessary), it is not 100% certain that they also perform at their best from a financial point of view. 

For example, the fact that CupcakeHop was developed in collaboration with the DEX PancakeSwap certainly provides good guarantees regarding its technical functioning, but in reality, it does not add guarantees to its optimal functioning from a financial point of view. 

Furthermore, it is still a DeFi protocol, meaning public and without insurance. Therefore, at least for the initial period, its use is not recommended for operators with little experience in decentralized finance. 

Revolut, the financial super app, has announced that it has added bonds to its trading offering for customers in Italy. From now on, users can also invest in corporate and government bonds. 

Revolut app and the addition of bonds to its trading offer 

Revolut, the super financial app, has announced that it has added bonds (obligations) to its trading offer, for customers in Italy and the European Economic Area (EEA).

The idea originates from a survey conducted by Dynata, according to which 29% of Italians indicate a low propensity for risk, which leads them to seek safer investment options. 

Precisely for this reason, Revolut is expanding its investment offering, including bonds, both for their stability and as an opportunity to diversify the portfolio and learn to invest. 

From now on, Revolut customers in Italy and the European Economic Area can invest in corporate and government bonds and receive regular fixed-rate payments – up to 5.5% per year (gross). 

Such investment services for the entire EEA area are provided by Revolut Securities Europe UAB (Revolut).

Revolut app and bonds as a new trading offer for Italian customers

Revolut already offers investment products in the EEA with over 3,000 assets available in the app, including US and EU stocks, ETFs, and now bonds. 

In general, bonds tend to be more stable assets compared to stocks and other assets. Not only that, good credit ratings and protection against inflation further contribute to their appeal, especially for investors seeking stability and potentially reliable returns. 

Bonds are used by both governments and companies as a means to raise capital, offering investors the opportunity to effectively lend money in exchange for periodic interest payments and the eventual repayment of the principal amount.

There are different types of bonds, with different risk and return profiles. In this regard, Revolut aspires to expand the list of corporate and government bonds in the coming months. 

On the financial super app, the minimum amount to start investing in bonds is USD/EUR 100, with a fixed commission of 0.25% per transaction (min USD/EUR 1). 

Rolandas Juteika, Head of Wealth and Trading (EEA), said: 

“We continue to expand Revolut’s investment offerings with bonds, a great way to diversify the investment portfolio, protect against uncertainty, and generate fixed income. With potentially higher returns and diversification benefits, bonds offer an interesting alternative for investors looking to create wealth and preserve capital.”

The largest neobank in Italy

At the beginning of this month, Revolut revealed that it has become the largest neobank in Italy in the month of May, after reaching 2 million customers in the country. 

It is exactly double the number of customers that the financial super app had about a year and a half ago, now becoming the most downloaded financial and banking app in Italy. 

This milestone is the result of continuous product innovation, supported by increasing investments in the market. 

In the crypto world, there are rumors that Donald Trump is working on an official token (DJT): here are the news related to the price.

In the last few weeks, the DJT token has attracted the attention not only of investors but also of industry analysts and the media, causing a significant drop of 31% in its value. Despite persistent rumors, Donald Trump has neither confirmed nor denied any ties to this controversial crypto project.

Donald Trump: the birth of the token DJT and the news on the price of the crypto TrumpCoin

On June 17, Pirate Wires published a post on the X platform, stating that the former president of the United States was launching an official token called TrumpCoin (DJT). 

According to the post, Barron Trump, Trump’s eighteen-year-old son, was said to be leading the project. The news immediately sparked a wide range of reactions, both positive and negative, in the world of cryptocurrencies and among Trump’s supporters.

Despite the initial euphoria, a blockchain analysis company and various industry leaders have expressed strong doubts about the veracity of these claims. “There is no concrete evidence directly linking Trump’s team to the DJT token,” stated an analyst from Chainalysis, one of the leading blockchain analysis companies. This lack of confirmation has contributed to the growing uncertainty and volatility around the token.

The news regarding the DJT token had a domino effect on other cryptocurrencies linked to the figure of Donald Trump. 

The so-called “PoliFi”, political cryptocurrencies, have experienced a double-digit drop. In particular, the MAGA (Make America Great Again) token and other Trump-related memecoins have fallen by over 30%. Investors, fearing a potential fraud or a manipulative market maneuver, have started to sell their tokens en masse.

If the rumors about DJT were true, this would mark the first time that a presidential candidate from a major political party creates their own cryptocurrency. This scenario, however, seems increasingly unlikely in light of investigations and statements from industry experts. “We are facing a big ‘if’,” commented an analyst from CoinDesk. “The lack of transparency and official confirmations makes this story very doubtful.”

The reaction of the markets

The volatility of the markets has been fueled not only by speculations, but also by significant movements in trading volumes. 

Institutional investors and retail traders reacted quickly to the news, leading to an increase in trading and strong selling pressure. The price of the DJT token collapsed by 31% in a few days, highlighting the fragility and sensitivity of the cryptocurrency market to news and speculation.

The case of the DJT token raises important questions about the future of political cryptocurrencies and market regulation.

If on one hand the creation of cryptocurrencies by political figures could offer new opportunities for fundraising and mobilization, on the other hand it could also pave the way for fraud and market manipulation. “It is essential that regulators intervene to ensure transparency and protect investors,” said a spokesperson for the SEC (Securities and Exchange Commission).

Conclusion

The 31% crash of the TrumpCoin (DJT) token highlights the challenges and uncertainties of the cryptocurrency market, especially when high-profile political figures are involved. 

While the investor community awaits clarifications from Trump and his team, it remains crucial to maintain a cautious and informed approach in navigating the ever-changing landscape of cryptocurrencies. 

The next few weeks will be decisive in determining the future of DJT and other cryptocurrencies linked to political figures, and whether they can truly carve out a stable place in the global financial market.

Latest crypto news: Runes, the well-known protocol for generating fungible tokens on Bitcoin based on UTXO and OP_RETURN, has just reached the milestone of 2500 BTC in fees since its launch in April, coinciding with the cryptocurrency’s halving.

These numbers recorded in terms of fees, allow miners to obtain a boost on profits and to reduce the impact of the reduction of the block reward.

In the meantime, however, the latest news talks about the general activity of NFT, BRC-20, and Runes on Bitcoin which is experiencing a sharp decline, enough to trigger an on-chain divergence between the number of active addresses and the number of transactions.

Let’s see everything in detail below.

The Runes protocol generates 2,500 BTC in fees since its launch in April, but activity is decreasing

The latest news from the NFT and Bitcoin market talks about Runes, a famous protocol for the generation of fungible tokens based on unspent transaction outputs (UTXO), which yesterday reached a significant milestone.

Since its launch on April 20, 2024, coinciding with the Bitcoin halving, the Runes have collected more than 2500 BTC in fees, equivalent to over 163 million dollars, marking a period of growth for the decentralized finance sector on the main cryptographic chain.

[DUNE] New #Bitcoin Protocol #Runes Generated $163 Million (2,513 #BTC) in Fees Since Launch pic.twitter.com/u9TE934inX

— BecauseBitcoin.com (@BecauseBitcoin) June 17, 2024

This milestone is particularly important because it comes at a delicate historical moment for Bitcoin miners, who after the halving of block rewards and the unexciting price action of BTC must face a period of limited earnings.

We indeed remember that after the last halving the block reward dropped from 6.25 BTC to 3.125 BTC.

The advent of Runes, as well as that of NFTs with inscriptions and BRC-20 tokens, have allowed the miners of the network to have an additional income derived from the high fees recorded

In this regard, Nazar Khan, co-founder and chief operating officer of the miner TeraWulf, stated in a recent interview that:

“The Runes have significantly increased transaction fees, so if anything there was an increase in hash price in the first 24 – 30 hours [after the halving]. Since then, we have seen transaction fees decrease, but compared to the average fees of 2023, they are still quite high.”

We emphasize how in just 2 months since its launch, the Runes protocol has managed to establish itself as the dominant standard for the creation and issuance of fungible cryptographic tokens, above other similar standards, significantly outperforming NFTs and BRC-20.

Considering the distribution of transactions on the Bitcoin blockchain, we can observe how from April 20 onwards, transactions related to Runes have skyrocketed, establishing themselves in the first days of existence with a share ranging between 47% and 81%, and then maintaining overall high activity in the following weeks.

In any case, from the Dune chart it is evident how in recent days the activity has dropped drastically, going from 60% in June to the current level of 13.5%.

In this context, the Ordinals transactions with inscriptions for NFT represent just 0.5% of the total network tx, while the BTC-20 account for 3%. The regular BTC transactions make up 83.1% as of June 17, 2024.

Source: https://dune.com/cryptokoryo/runes

NFT, BRC-20 e Runes: the latest news on the decline of active addresses on Bitcoin

In the midst of the recent imposition of the Runes protocol and the subsequent drop in on-chain activity, the latest news from the cryptographic company Glassnode highlight how a strong counterintuitive divergence is forming between the drop in active addresses and the increase in transaction count on the Bitcoin network.

The metric “Bitcoin: Active Address Momentum” is representative of the strong reduction in active addresses on Bitcoin in recent weeks, where the level of 653,000 daily addresses was recently reached: such a low value has not been observed since 2019.

At this moment, the Bitcoin blockchain is experiencing a situation similar to when China imposed restrictions on Bitcoin mining in mid-2021, seeing a strong decline in network activity, although driven by completely different current drivers.

In fact, at the center of the issue today we do not find stringent regulations, but rather everything that revolves around the Inscriptions NFT, BRC-20, and Runes sector.

Despite the active address metric in free fall, the daily transaction count is instead recording new all-time highs, forming a divergence with the previously analyzed declining trend.

The quantity of transactions processed by the network amounts to about 617,000 tx/day, which is 31% higher than the annual average and indicates a relatively high demand for the space of Bitcoin blocks.

If we compare the recent decline in active addresses with the share of transactions attributed to inscriptions and BRC-20 tokens, we can notice a strong correlation. 

In all this, however, transactions resulting from inscriptions NFT are collapsing from mid-April onwards, since they have been replaced by the advent of Runes (which in turn are also in a strong crisis in recent days).

This suggests that the initial driver of the decline in address activity is largely due to the reduction in registration and use of Ordinals, and subsequently to a drop in enthusiasm for Runes.

It is important to remember that many wallets and protocols within this sector reuse addresses, which are not counted twice if the address is active more than once in a daily period. Therefore, if a single address generates ten transactions in a day, it would appear as one active address, but ten transactions.

Crypto news: Tether has published a particularly important news regarding the launch of a new gold-collateralized stablecoin.

It is called Alloy by Tether and has the symbol aUSDT. 

As the symbol itself says, it is always a stablecoin pegged to the US dollar, but unlike USDT it is not collateralized in dollars. 

Crypto news: the collateralization in gold of Tether

Tether already years ago had launched a stablecoin collateralized by gold, Tether Gold (XAUT), but in that case it was a simple stablecoin whose value remained pegged to that of gold. 

In fact, the price of XAUT is always very similar to that of an ounce of gold, so much so that for example at this moment the price of this token is about $2,320, and that of an ounce of gold (XAU) is always about $2,320. 

To achieve parity with gold very simply Tether has in reserve an ounce of gold for every XAUT token issued, and the latter can always be returned to the sender in exchange for an equal amount of gold (1 XAUT = 1 XAU).

In other words, Tether Gold is not only collateralized in gold, but it is also exchangeable at par with gold, and this ensures that its price remains pegged to that of gold. 

For the new stablecoin aUSDT, things are different. 

The new algorithmic stablecoin: aUSDT

aUSDT is technically over-collateralized in gold. In other words, the total market value of all the gold reserves held by Tether as collateral for aUSDT exceeds the market value of all the aUSDT tokens issued. 

aUSDT, however, is not anchored to the price of gold, but to that of the US dollar, like USDT. 

Only that, while the traditional USDT maintains parity with the dollar because Tether has an equal number of USD or equivalents in reserve for all the USDT tokens issued on the market, and because each USDT token is redeemable by the sender in exchange for an equal amount of USD, for aUSDT things are different. 

In fact, as stated in the official Tether announcement:

“its price stability is maintained through the dynamics of demand/supply in the secondary markets (including liquidity pools)”.

3/ In the case of Alloy by Tether, aUSD₮ is over-collateralised by XAU₮ and its price stability is maintained through supply/demand dynamics on secondary markets (including liquidity pools). pic.twitter.com/RSiXbGZ2UB

— Alloy by Tether (@Alloy_tether) June 17, 2024

This is therefore an algorithmic stablecoin whose price stability around 1 USD is maintained thanks to algorithms that act on demand and supply, and not by being over-collateralized in gold. 

Moreover, technically it is not directly collateralized in physical gold, but in XAUT tokens, which are in turn collateralized in physical gold. Therefore, aUSDT is an algorithmic stablecoin pegged to the US dollar and collateralized in tokenized gold (XAUT). 

The tokens with similar names

aUSDT, or Alloy Tether, is not yet present on the crypto markets, where however other tokens with similar names are already present but are a completely different thing.

In particular, there is Aave USDT, which is the token on Aave that replicates USDT. 

It should be noted that although this last token is also pegged to the value of the US dollar, it is different from Alloy Tether, so it is necessary to clearly distinguish between the two tokens with the same ticker because they have different risk profiles. 

In turn, aUSDT should not be confused with USDT, because the classic USDT being collateralized directly in USD and being especially redeemable at par in USD has a higher degree of security, with really minimal price fluctuations on the market. 

Instead, aUSDT, being an algorithmic stablecoin, could have price fluctuations potentially higher than the traditional USDT, even if it should still always maintain a value close to 1 USD in the medium/long term. 

Crypto news: The details on Tether’s new gold-collateralized stablecoin

Tether has also published a subsection of its official website, accessible at the address alloy.tether.to, with all the details. 

It is still necessary to be very careful because fake aUSDT websites have already appeared that only serve to scam the naive. 

On the official Tether website, aUSDT is defined as a “pegged asset,” designed to track the price of a specific reference asset, such as the US dollar in this case. 

To maintain this price constraint, they use stabilization strategies such as excessive collateral (i.e., over-collateralization), which involves holding more value as collateral than the value of the issued assets, supported by secondary market liquidity pools. 

Therefore, users who want to create new aUSDT tokens will have to provide as collateral a number of XAUT tokens of greater value than the aUSDT tokens obtained. The additional collateral acts as a safety net, absorbing potential fluctuations in the value of the collateral.

All technical details can be found at https://docs.alloy.tether.to.

The role of MiCA

According to several observers, it is possible that the launch of this algorithmic stablecoin collateralized in XAUT could be Tether’s response to the entry into force of the new European crypto regulation on stablecoins, the MiCA, expected on June 30.

In fact, fiat-collateralized stablecoins must be somehow approved in order to continue to exist on centralized platforms in the European Union. There are doubts about whether USDT can manage to obtain this kind of approval, with the risk of having to be considered an unauthorized stablecoin in the EU. 

Instead, aUSDT does not fall into the category of so-called e-money token, because it is not convertible into USD. From this point of view, it is more similar to XAUT, that is a so-called asset-referenced token, since it is in fact convertible into Tether Gold. 

Big news in the Bitcoin mining sector: the total market of securities listed in the USA and followed by JP Morgan recorded a record of 22.8 billion dollars in June. The best performance is by Core Scientific (CORZ), with its increase of 117%. 

Bitcoin mining: JP Morgan reveals that the securities market recorded $22.8 billion in June

According to what reported, the total market of US-listed securities of Bitcoin mining companies followed by JP Morgan, reached a record of 22.8 billion dollars in June.

This is a true record for the market capitalization of the 14 bitcoin miners’ stocks. 

The banking giant emphasized that investors appreciated the news of the agreement between Core Scientific and the artificial intelligence company CoreWeave. And indeed, it is precisely in the first part of the month that it seems that the stocks of Bitcoin mining companies have gained the most. 

Not only that, precisely in the first two weeks of June, it seems that the best performance was recorded by Core Scientific (CORZ), with an increase of 117%. On the contrary, the worst was Argo Blockchain (ARBK) with a decrease of 7%. 

In the same period, however, the price of BTC has instead fallen by 3%, causing the stocks of Bitcoin mining companies to outperform Bitcoin itself. 

Bitcoin Mining: JP Morgan and the June record for the market of listed securities in the USA

The 22.8 billion dollars recorded by the Bitcoin mining stocks listed in the USA and followed by JP Morgan, is a figure of historical maximum. 

Not only that, these publicly traded miners in the United States have increased their share of the network hashrate and, together, the 14 companies “now represent about 23.8% of the global network hashrate“, with a gain of almost 1% compared to the previous month.

In this regard, in its report, JPMorgan emphasized that June is also the second month of increase in the network hashrate for U.S. miners. 

This would be an encouraging sign of inefficient private operators, they have managed to downsize operations after the halving. 

In fact, just recently, there has been talk about the case of Riot Platforms, the large Bitcoin mining company headquartered in Castle Rock, Colorado. 

In practice, the company is trying in every way to make up for the reduction in revenue resulting from the advent of BTC halving, which has halved the reward. Not surprisingly, Riot is down 43% in earnings compared to the previous month. 

To recover, Riot is grappling with an update of its infrastructure to succeed in the endeavor of achieving more efficient BTC production. Not only that, there are also new possible acquisitions or the implementation of energy-saving strategies. 

The strong doubts about Solana ETFs

Recently, JP Morgan has made headlines for also having raised doubts about the possible approval of new crypto spot ETFs in the USA, especially regarding Solana. 

Unlike other strong supporters like Brad Garlinghouse who predicts the launch of ETFs on XRP along with ETFs on Solana next year, JP Morgan remains skeptical. 

Specifically, in fact, the CEO and Global Market Strategist of JP Morgan, Nikolaos Panigirtzoglou, believes that the SEC still considers many cryptos as unregistered securities. 

The Australian Securities Exchange (ASX), the main stock market in Australia, recently marked a historic moment by approving its first listing of a Bitcoin spot ETF at VanEck. 

This event represents a significant milestone for the cryptocurrency ecosystem in the country, conferring greater legitimacy to Bitcoin and related exchange-traded funds (ETF).

The importance of the approval of VanEck’s Bitcoin ETF by the ASX in Australia

The ASX is the main exchange in Australia and one of the largest globally. Its influence extends well beyond national borders, making any approval or significant movement in this context highly relevant for global investors. The decision of the ASX to approve a VanEck spot Bitcoin ETF not only reflects a change in sentiment towards cryptocurrencies but also a growing acceptance and integration of these technologies into traditional financial markets.

VanEck is one of the leading investment management companies globally, known for its innovation in financial products. The Bitcoin ETF proposed by VanEck is designed to offer investors direct exposure to Bitcoin without the need to purchase and hold the cryptocurrency directly. This type of financial product makes it easier for institutional and retail investors to access the cryptocurrency market, reducing the complexities and risks associated with the custody and security of digital coins.

Implications of the approval

The approval of the first ETF on Bitcoin spot on the ASX has several significant implications:

Greater legitimacy: The listing of a Bitcoin ETF on an exchange as respected as the ASX gives a new dimension of legitimacy to the cryptocurrency. This move could encourage other exchanges and regulators to follow suit, accelerating the adoption of cryptocurrencies in traditional financial markets.

Facilitator access: ETFs offer an easier and safer way for investors to gain exposure to Bitcoin. The management of custody and security of cryptocurrencies is a significant issue for many investors, and ETFs eliminate this barrier, making the cryptocurrency market more accessible.

Influence on the price of Bitcoin: Greater accessibility and legitimacy could lead to an increase in demand for Bitcoin, with potential positive effects on the price of the cryptocurrency. However, it is important to note that cryptocurrency markets remain volatile and susceptible to various external factors.

Attraction of institutional investments: Institutional investors, such as pension funds and hedge funds, often avoid investing directly in cryptocurrencies due to regulatory and operational concerns. The availability of a regulated ETF could attract these investors, significantly increasing the volume and liquidity of the cryptocurrency market.

The approval of the ASX comes at a time of increasing regulatory attention on cryptocurrencies globally. Regulators around the world are trying to balance financial innovation with investor protection and the stability of the financial system. In Australia, the attitude towards cryptocurrencies has been relatively progressive, with a focus on creating a clear and supportive regulatory environment.

Challenges and opportunities

The decision of the ASX could be seen as a positive signal for other jurisdictions, showing that it is possible to integrate cryptocurrencies into regulated financial markets without compromising security and stability. This could influence other regulators to make similar decisions, contributing to the growth and maturation of the global cryptocurrency market.

Despite the enthusiasm, there are still several challenges to face. The volatility of Bitcoin prices is a constant concern, as well as the security of exchange platforms and anti-money laundering regulation. Additionally, investor education is crucial to ensure they understand the risks associated with investments in cryptocurrencies.

On the other hand, the approval of VanEck’s ETF represents a great opportunity for financial innovation. It can stimulate the development of new financial products and services related to cryptocurrencies, further promoting the integration of blockchain technologies into the global economy.

The approval of the first Bitcoin spot ETF on the Australian Securities Exchange is a historic moment for the cryptocurrency industry in Australia and globally. This move grants greater legitimacy to Bitcoin and could accelerate the adoption of cryptocurrencies in traditional financial markets. While there are still challenges to face, the opportunities created by this development are immense, paving the way for a new era of financial innovation and accessibility to cryptocurrency investments.