The integration of artificial intelligence (AI) and blockchain is increasingly prevalent in the Web3 space and welcomes a new trailblazing mechanism developed by Qubic: Useful Proof-of-Work (uPoW). This consensus mechanism ensures not just the security of the blockchain, it utilizes computational power to employ AI tasks to create dual-purpose utility unseen in the space.

The innovation behind Qubic’s uPoW make it one of the top contenders throughout Web3, quickly becoming taking its place as one of the top consensus mechanisms for AI-driven platforms. Through this innovation, uPoW introduces a brand new level of efficiency to blockchain-driven AI capabilities and ascends beyond the potential of traditional consensus mechanisms.

 

Consensus Mechanisms: A Brief History

Traditional consensus mechanisms like Proof-of-Work (PoW) and Proof-of-Stake (PoS) have been fundamental to blockchain technology, security, and functionality. PoW was popularized by the first cryptocurrency, Bitcoin (BTC), and has secured a plethora of blockchains through collaborative computational efforts.

However, PoW is one of the most demanding consensus mechanisms and is regularly criticized for its huge energy consumption — likened often to the energy used by certain regions or small countries. On the other hand, PoS provides a significant energy-use offset in comparison to the PoW mechanism, but opens the door to centralization if a small number of holders gain significant stake in the mechanism.

Qubic’s uPoW mechanism addresses and overcomes the limitation of traditional consensus mechanisms like PoW and PoS through AI advancements and energy-efficient decentralization. Using computational resources for training AI models instead of mining, Qubic makes the best use of energy consumption to provide benefit and value to all.

 

Empowering Through uPoW

Qubic utilizes the Quorum Protocol, built on a quorum-based system involving 676 Computors to execute smart contracts and validate transactions fast and efficiently. The process ensures reliability and consensus by confirming that at least 451 Computors agree on the results before finalization — maintaining Qubic’s network integrity.

The mechanism behind uPoW involves Computors which solve complex mathematical problems in a similar fashion to PoW, but without the drawbacks. Computers function as solution providers and computational power contributors to both network security and AI-related tasks — like training neural networks.

Through this approach to consensus, Qubic merges AI training into the process to continuously advance AI capabilities and make sure the network remains robust at all times.

 

uPoW: Advantages for AI Platforms

Through the uPoW consensus mechanism, AI platforms can fully harness the untapped potential of computational power of mining, developing scalable solutions for blockchain-driven AI tasks. Platforms like Qubic establish distributed computing networks capable of handling huge AI computational loads that many centralized systems struggle with.

Through its quorum of Computors for validation processes, uPoW maintains security throughout every step of every task while adhering to the fundamentals of decentralization. The use of the uPoW system holds up far stronger against blockchain attacks than other consensus mechanisms, which are often vulnerable to double spending or the infamous 51% attack.

uPoW also makes the most of the blockchain side of AI integration, ensuring all transactions and computations are publicly accessible, transparent and traceable on the immutable blockchain. This element shines through most for AI applications that handle and manage data, ensuring information accuracy, reliability, and security.

 

Qubic’s Role in uPoW 

Founded by Sergey Ivancheglo, a mastermind behind IOTA and NXT, Qubic integrates the power of uPoW into its blockchain-drive AI democratic platform. True to Ivancheglo’s vision, the platform utilizes decentralized computational power to ever-advance the capabilities of AI equally for all users.

Qubic utilizes Computors, Candidates, and the Arbitrator to create a unique structure not seen before in the Web3 space. This composition ensure the powers that ensure network functionality have clear power divides which maintain a decentralized equality throughout the blockchain.

Computers are tasked with executing smart contracts and training up AI models, while Candidates aim to become Computors by contributing to AI tasks without immediate compensation. The fundamental Arbitrator manages AI training tasks but never has influence over smart contracts, token distribution or voting to ensure decentralization.

 

Challenges to Tackle

Despite introducing brand new avenues of AI-blockchain innovation, Qubic is not without its challenges — faced by all new technologies that seek to overhaul traditional systems. Facing challenges like token value stabilization and user-friendly interface navigation and use, Qubic works hard to stand a strong against competitors like TAO (Bittensor) and Kaspa. 

TAO uses decentralized machine learning and rewards users with tokens for contributing computational power to AI model training, similarly to Qubic. However, through uPoW, Qubic creates a holistic approach to computational resource usage, securing the blockchain and integrating AI training under one umbrella.

Kaspa, known for its speed and scalability, focuses mainly on transaction throughput and network efficiency. Once again, Qubic stands out from the crowd here as well through direct AI integration into blockchain technology — creating an efficiency computational power resource for AI tasks and new market category development.

 

Qubic: A Step Ahead of the Competition

Unleashing the full potential of the uPoW mechanism, Qubic turns inefficient mining into an beneficial and efficient productive process for computational power use toward the advancement of AI. Paired with its fair launch that had no premined tokens nor venture capital (VC) funding, Qubic promotes decentralization, transparency, and fairness for all users.

AI tasks are just the beginning. Through the Aigarth layer, Qubic is able to utilize miner power in efforts to create artificial neural networks that further democratize access for all future users of ever-improving AI technology. 

When considering the road ahead for Qubic and uPoW, this new innovative consensus mechanism represents a huge step forward for blockchain-driven AI integration. Fueling security and transparency blockchain technology powered by AI, Qubic’s uPoW advancement is set to  empower the future of decentralized AI.

Ripple’s XRP is experiencing an increase in OI, suggesting investors are opening more positions, which could potentially lead to price volatility. On the other hand, Toncoin (TON) and Avalanche (AVAX) are performing outstandingly well.

While Ripple’s (XRP) increase in OI could indicate a bullish trend, investors are opting for more stable and high-performance tokens, with ETFSwap (ETFS) emerging as the best bet.

 

ETFSwap (ETFS): New DeFi Investment Traders Are Choosing Over Ripple’s XRP 

ETFSwap (ETFS) is poised to overtake established coins like Ripple (XRP), Toncoin (TON) and Avalanche (AVAX) as the demand for the decentralized platform continues to grow thanks to the number of exchange-traded funds (ETFs) that are set to launch on the platform.

As a novel trading platform, ETFSwap (ETFS) integrates the best aspects of traditional finance (TradFi) and decentralized finance (DeFi) to enable users to invest in and trade crypto assets, tokenized ETFS and more in DeFi mode without needing a third party across various industries.

To enhance users’ trading experience, ETFSwap (ETFS) introduced customizable trading strategies tailored to individual needs and advanced AI-powered tools such as the ETF Screener and the ETF Tracker. These fully AI-driven tools rapidly analyze vast amounts of data to provide top-tier investment recommendations.

The platform also offers leveraged and perpetual trading services, enabling investors to amplify their assets. With these perpetual futures, traders can maintain their positions indefinitely, potentially maximizing their gains.

With ETFSwap’s (ETFS) beta platform set to launch in 30 days, now is an opportune time to acquire the platform’s native token. The ETFS token, necessary for accessing the platform’s features, is currently available at a discounted presale price of $0.01831. This presents an attractive entry point for investors looking to participate in ETFSwap’s ecosystem before its full launch.

 

Ripple’s XRP Shows Signs Of Volatility Despite Increased OI

Analysts at CryptoQuant have identified a significant rise in open interest (OI) for Ripple’s XRP compared to other cryptocurrencies. This trend, reflected in a chart, suggests that investors are opening more Ripple (XRP) positions in anticipation of a price increase. 

However, CryptoQuant warns of potential volatility for Ripple’s XRP. They caution that the rising OI alongside the price increase can reflect investor sentiment and lead to a sudden significant decline in Ripple’s value. The company advises close monitoring of volatility and prioritizing risk management strategies. 

At the time of writing, Ripple (XRP) sits at $0.4874, having declined roughly 1% in the last 24 hours and 2.23% over the past week. While these gains are present, they appear modest compared to Toncoin (TON) and Avalanche’s (AVAX) recent performance.

Toncoin (TON) and Avalanche (AVAX) Zoom Past Ripple’s XRP

Toncoin is trading within a weekly range of $7.13 to $8.03. The coin has a near resistance level at $9.21 and support at $6.10. Over the past six months, Toncoin (TON) has surged by 218.80%. Although the past week saw a dip of 3.16%, Toncoin rose by 10.23% over the last month.

Nonetheless, the current market consolidation suggests a corrective phase. Key indicators like RSI (61.46) and Stochastic (80.68) show that Toncoin may soon test resistance levels.

Meanwhile, Avalanche (AVAX) is showing resilience, rebounding from a recent low of $26.47. Despite still trading below the $30 mark, Avalanche (AVAX) bulls are gearing up to reverse the persistent downturn. 

The Relative Strength Index (RSI) provides evidence of this bullish effort. On June 18, Avalanche (AVAX) plummeted into the oversold territory. However, the RSI has since risen to 32.07, indicating gradual increases in buying pressure. If Avalanche (AVAX) bulls sustain this momentum, the cryptocurrency’s price may surge to $30.95. 

 

Why You Should Invest In ETFSwap (ETFS) Before XRP, Toncoin And AVAX

With a slew of bullish developments on the horizon, including the highly anticipated launch of its beta platform, ETFSwap (ETFS) is poised for remarkable growth, making it a far more attractive option than Ripple (XRP), Toncoin, and Avalanche (AVAX). Investing in ETFS now would be wise, as this is the lowest price the token will be before a parabolic breakout, positioning you for maximum ROI.

 

For more information about the ETFS Presale:

Visit ETFSwap Presale

Join The ETFSwap Community

Zug, June 26th, 2024 – Lisk announces the date of a significant community vote for whether to keep or burn 100 million LSK tokens, representing 25% of the total capped supply of 400m. This community vote will offer the Lisk community a major opportunity to influence the strategic direction of the Lisk project through the newly launched Lisk DAO.

The vote comes at a pivotal moment, following Lisk’s migration from a L1 to a L2 as a member of the Optimism Superchain.

Vote Details:

Following Lisk’s decision to allow the community to determine the future of 100 million LSK tokens, which was announced on April 4, 2024 in the blog post “LSK 2.0: Migration to an ERC-20 Token,” the vote is scheduled to take place on September 24 and run for a period of 7 days until October 1st on the new Lisk DAO, using Tally for the voting process. 

Voting Options:

Community members will have two options to consider:

Allocate to DAO Fund Selecting this option will allocate the 100 million LSK tokens to the Lisk DAO Fund, to be vested into the fund from 2027 – 2033 for the community to allocate to various programs and opportunities (15 million LSK tokens annually for six years, followed by 10 million in the seventh year). This funding will enable the community to drive initiatives, support growth campaigns, and finance innovative projects over the next decade.

Burn from Supply Choosing this option would result in the permanent removal of the 100 million LSK tokens from the total supply. This action will reduce the total LSK token supply by 25%, to a total of 300 million tokens.

Context and Background:

Last week, Lisk announced the launch of its DAO in line with their schedule. The company, which has refocused on real-world assets (RWA) in emerging markets, has gained tremendous visibility in the past few months.

To ensure a fair and community-focused decision-making process, the Onchain Foundation will not participate in the vote. This empowers the community members to have the final say in how these tokens are utilized.

About Lisk:

Lisk provides a cost-efficient fast and scalable L2 network that is secured by Ethereum. As a long-standing Web3 infrastructure project, Lisk has been democratizing blockchain accessibility for developers and end users globally since 2016. Its core focus is to solve local problems in Emerging Markets by providing solutions around real-world assets (RWA), off-chain assets (OCA), and DePIN on-chain. As a member of the Optimism Superchain is contributing to onboarding the next 1 billion people to Web3.

For more information, please visit: lisk.com 

Join the Lisk community: Discord  |  Twitter  |  Telegram   

In the information age, technology is crucial for managing investments, and RCO Finance is leading the way with its innovative AI trading algorithms. These algorithms are powered by a tool that leverages advanced technology to enhance investment strategies and management.

RCO Finance’s AI trading algorithms aim to transform the investment landscape. Let’s find out how this state-of-the-art tool empowers users, making financial decision-making more efficient and effective. 

 

Leading the Future of Trading: RCO Finance’s Advanced AI Robo Advisor 

RCO Finance’s AI Robo Advisor is an AI trading tool that offers personalized financial advice and investment management services. It uses advanced machine learning algorithms to process extensive data to provide customized recommendations tailored to each user’s profile.

Suitable for both experienced investors and novices, the AI Robo Advisor adjusts to individual needs and goals, delivering the most pertinent and actionable advice for each user.

 

What are the Standout Characteristics of the AI Robo Advisor?

Real-Time Market Analysis: The Robo Advisor offers current insights and trends by analyzing real-time data from global financial markets. This enables users to make well-informed decisions and respond proactively to market changes.

The AI Robo Advisor also considers your financial objectives and investment timeframe to develop a personalized investment strategy. It continuously monitors your portfolio, making adjustments as necessary to enhance performance and manage risk effectively.

The platform focuses on user experience and features a robust interface that streamlines the investment process. Users can effortlessly navigate through various features and access their financial information with minimal effort.

Furthermore, unlike traditional financial advisors who often charge high fees, RCO Finance’s Robo Advisor provides an affordable alternative without sacrificing quality. This makes sophisticated investment management accessible to a broader audience.

Additionally, RCO Finance is dedicated to ensuring the security and privacy of its users. To reinforce this commitment, it recently underwent a smart contract audit with SolidProof, highlighting its emphasis on safeguarding user data. 

 

Experience a Dynamic Ecosystem with RCO Finance 

Beyond its robo advisor, RCO Finance provides debit cards for users to manage their stakes in DeFi projects. Investors on the platform benefit from reduced trading fees, enjoying up to 40% off, with the potential for even greater discounts as more users join.

RCO Finance stands out with its distinctive features that attract crypto investors. Central to its ecosystem is the native token, RCOF, which plays a pivotal role in fostering growth and sustainability within the platform.

Holders of the RCOF token gain from various cash flow opportunities, including incentive programs and passive income options. They also have a say in protocol decisions, creating an engaging and participatory environment for investors.

The platform offers competitive interest rates and comprehensive borrowing and lending services, enabling investors to access extra capital for trading. These services have the potential for significant returns and enhance the overall investment experience.

RCO Finance allows investors to use up to 50x leverage and offers 24/7 market coverage. This amplifies the potential for high profits, making RCO Finance an attractive option for those seeking to maximize their investment opportunities.

Don’t Miss Out: Early RCOF Backers Expect 5000% Returns!

RCO Finance has attracted considerable attention due to its favorable tokenomics and potential for high returns. The platform’s native token, RCOF, is in its presale stage, allowing investors to purchase tokens at a discounted rate. This stage is vital for early investors looking to maximize their potential profits.

The presale is methodically divided into several stages, with the price of the tokens increasing incrementally at each stage. This structure benefits early investors the most, offering them the greatest potential gains and encouraging swift participation.

The gradual price increase across the presale stages ensures all investors a balanced and appealing investment opportunity. By incrementally raising the price, RCO Finance maintains interest and allows new participants to join at different stages.

For instance, an investor who buys $1,000 worth of RCOF tokens in the early presale stages could see their investment grow to $30,000 by the time the token officially launches. This scenario illustrates a potential return of 3,000%, emphasizing the significant upside for early investors.

Currently, RCOF tokens are priced at $0.0127 each during Stage 1 of the presale. However, this price is anticipated to rise significantly in the upcoming stages, offering investors a valuable opportunity to capitalize on the platform’s growth potential. Join now and be part of the DeFi revolution!

For more information about the RCO Finance Presale:

Visit RCO Finance Presale

Join The RCO Finance Community 

London, UK, June 26th, 2024, Chainwire

The integration with Sui includes custody support for L1 and L2, built-in staking support, and DeFi connectivity.

Copper, a leader in digital asset custody, collateral management, and prime services, is excited to announce its latest integration with Sui, a high-performance Layer 1 blockchain and smart contract platform. The strategic partnership will enable robust custody infrastructure support for stablecoin and Real-World Asset (RWA) issuers on Sui such as Ondo (USDY), marking a significant advancement in connecting institutional finance to on-chain opportunities on the Sui Network.

With Copper on board, the Sui ecosystem now has built additional foundational infrastructure necessary to enable institutional players to leverage Sui’s industry-leading decentralized technology platform, addressing the need for financial institutions seeking efficient treasury services for their tokens.

“This strategic partnership, integrating Copper’s enterprise-grade custody tooling, exemplifies the continued maturation of the Sui ecosystem into a platform capable of supporting the heightened infrastructure needs of Sui’s institutional builders and users,” said Greg Siourounis, Managing Director of the Sui Foundation. “We are truly excited about the number and diversity of new projects and assets this partnership will enable for both the Copper and Sui ecosystems.”

The first phase of support, encompassing SUI and native Sui-tokens is currently complete, making Copper a custodian for these assets. The immediate availability of Copper’s infrastructure on Sui means it is ready to serve the needs of large institutional traders and market makers today. Further features in staking and DeFi are in development and will be integrated soon, significantly expanding the functionality of Copper’s offerings on Sui.

“We’re excited to be a part of the SUI ecosystem with Copper as custodian,” commented Dmitry Tokarev, CEO of Copper. “With staking and DeFi features currently in development, we’re looking forward to the evolution of this partnership.”

Contact

Sui Foundationmedia@sui.io

Ethereum’s Blast L2 is announcing its foundation launch ahead of its June 26 airdrop.

The L2 team had little to say about its structure, but we’ll be getting more details by Wednesday.

Ethereum’s Blast L2 is announcing organizational changes ahead of its June 26 airdrop.

Introducing the Blast Foundation.

The Foundation was created to support the community in achieving the Blast Vision, which will be shared publicly on June 26.

— Blast (@Blast_L2) June 24, 2024

A new Blast Foundation has been created to help its community realize the “Blast Vision,” details for which are slated to be released publicly alongside the BLAST airdrop on June 26.

The transition process will handover control over the Blast Twitter account, the Blast website, and Blast protocol governance from Arcade Research (Blast’s developer) to the Blast Foundation.

Bankless Take:

Although today’s introduction of the Blast Foundation revealed little about the role this group will play in the Blast ecosystem going forward, it will likely receive a substantial BLAST allocation to conduct grants programs, institute token incentive initiatives, and steward the community in achieving the “Blast Vision.”

Disclaimer: The information provided is not trading advice. Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

ZachXBT questions Ronaldinho’s crypto comeback, hinting at potential financial motives amid past controversies.

Football legend Ronaldinho Gaúcho has hinted at a return to the cryptocurrency scene. On June 23, he posted on X, declaring it was time for the asset class to “go mainstream” and urged his followers to join him.

https://twitter.com/10Ronaldinho/status/1804952780479557858

However, this announcement has not been met with enthusiasm. Instead, it caused criticism and skepticism from the crypto community, with prominent on-chain investigator ZachXBT leading the charge.

Ronaldinho’s Crypto Comeback Sparks Controversy

ZachXBT questioned Ronaldinho’s motives, suggesting that his sudden re-entry into the crypto world might be driven by financial difficulties. 

In a pointed response, ZachXBT said, “Is this a translation for you are bankrupt again? In case you forgot, here are all of the crypto projects you pump and dumped over the years.”

https://twitter.com/zachxbt/status/1805076904682434863

Accompanying this statement was a screenshot detailing Ronaldinho’s involvement in several crypto projects, including the meme coin Baby Doge, Atari Chain, Lord Society NFT, and World Cup Inu (WCI).

Ronaldinho’s previous entry into crypto has been filled with controversy. A recent scandal involved the “18kRonaldinho” project, which was accused of being a $61 million pyramid scheme.

It promised unrealistic returns of 2% per day to investors who put in at least $30 in digital currencies. 

Ronaldinho had appeared as an ambassador for the company, which initially sold watches and jewelry, but during a Brazilian congressional hearing, he denied any formal association, claiming his image was used without his consent.

This wasn’t the first time the celebrity was involved in the crypto space. 

In February 2022, he partnered with Graph Blockchain’s subsidiary, New World Inc., to become an ambassador and promote NFT experiences to his massive fanbase, which includes nearly 77 million followers on Instagram.

Later that year, he also collaborated with the decentralized exchange P00LS to launch his own token, RON.

Scrutiny and Meme Coin Controversy

Several other high-profile personalities have dipped their toes into the crypto waters, often with mixed results. 

The crypto community has recently seen an increase in celebrity-backed meme coins, many of which have quickly plummeted in value, causing significant losses for investors.

Celebrities such as Caitlyn Jenner, Andrew Tate, and Nigerian musician David “Davido” Adeleke have also faced backlash for their involvement in such ventures. 

Blockchain analytics firm Bubblemaps has also accused Andrew Tate and Iggy Azalea of engaging in insider trading within the meme coin projects they promoted.

Ahead of the upcoming General Election, a survey has revealed that more than 33% of young adults in the UK consider crypto to be a vital electoral issue.

Zumo conducted the research in collaboration with Focaldata. It found that 34% of individuals aged 18-24 and 25-34 believe that politicians in the UK should prioritize the growth of the crypto industry.

The survey of over 3,000 UK adults found that a significant portion believe the UK should focus on becoming a center for digital assets. This sentiment is strongest among young adults (18-34 year olds).

It also showed that 38% of 18-24 year-olds have directly invested in crypto, and 39% view it as a potential source of long-term financial gain. This interest is further reflected by the fact that many young adults (40% of 18-24 year-olds and 37% of 25-34 year-olds) have friends or family members who are invested in cryptocurrencies.

Despite the enthusiasm, some young adults (32% of both 18-24 and 25-34 year-olds) have expressed concerns about the future of cryptocurrencies in the UK.

“As crypto moves mainstream, it’s clear from our findings that the nation’s young adults are keen for it also to move up the political agenda,” said Zumo CEO Nick Jones.

“Moving forward, we’re keen to see the government and the regulators working in step with the industry to implement an appropriate regulatory framework that will help the digital assets sector reach its full potential as a growth driver for the UK economy.”

UK FCA Approves First Crypto ETPs, Lifts Market’s Standing

The wariness of some young adults aligns with the UK financial regulators’ recent move to create a sandbox, or a safe testing ground, for digital securities trading. 

This initiative, designed to keep pace with technological advancements, lets companies experiment with real customers in a controlled environment.

Just prior to that, the Financial Conduct Authority (FCA) greenlit the first crypto exchange-traded products (ETPs) for trading on the London Stock Exchange. 

This approval narrows the gap between the UK and other financial powerhouses vying for dominance in the digital asset space.

Biden’s Regulatory Approach Spurs Crypto Sector’s Apparent Pivot to Trump

Similar to the UK, the 2024 US elections are poised to be a critical juncture for the political impact of the crypto industry.

A Grayscale survey highlighted Bitcoin’s increasing prominence, driven by geopolitical tensions, risks to the US dollar, and concerns over inflation. 

The survey also revealed that 47% of US voters integrate crypto into their investment strategies.

The cryptocurrency sector appears to be increasingly aligning with former President Trump, who has voiced favorable opinions about crypto, in contrast to the Biden administration’s more assertive regulatory approach.

Tencent, the Chinese tech giant, was revealed to be participating in the tests that the Chinese institutions have completed using digital Yuan and Mbridge, a CBDC-enabled cross-borders settlement platform. 

Tencent participated through its international settlements arm Tenpay, which piloted the use case of the Chinese CBDC, the digital yuan, to settle e-commerce exports using Mbridge’s rails.

Tencent Participated in the CBDC-Enabled Mbridge Pilot Phase

Tencent, one of the largest Chinese tech conglomerates, has participated in the pilot test of Mbridge, the central bank digital currency (CBDC) based cross borders settlement system. 

On the Chinese side of these tests, Tencent has been testing the feasibility of using China’s CBDC, the digital yuan, to settle payments.

Before Mbridge’s minimum viable product (MVP) release, Tencent had participated via Tenpay Global, its cross-border payments arm, by clearing e-commerce exports using Mbridge rails and the digital yuan.

Mbridge has the participation of the Bank of Thailand, the Central Bank of the United Arab Emirates, the People’s Bank of China (PBOC), the Hong Kong Monetary Authority (HKMA), and the recent addition of the Saudi Central Bank. 

However, while other countries have the possibility of linking their real-time payment systems, China has already linked its CBDC to the decentralized network. This allows for payments to be settled using the digital yuan.

Tencent was also one of the first firms involved in the digital yuan pilot, signaling the firm’s interest in participating in these initiatives. 

Wechat, a messaging app owned by Tencent, also started supporting digital yuan payments in March 2023, opening the doors for over 1.2 billion users to settle retail payments using the digital yuan.

Furthermore, Tencent’s owned private bank Webank was one of the first private institutions onboarded to the pilot, after the Chinese state banks.

While the Bank of International Settlements (BIS) is involved in the Mbridge project, the decentralized traits of the system have worried observers from Western states. 

These have foreseen its use to avoid possible economic sanctions exerted through traditional settlement rails like SWIFT.

What do you think about Tencent’s participation in the Mbridge project? Tell us in the comments section below.

Crypto Trump Trade is expected to return as Republicans adopt a pro-crypto stance to attract voters and funding.

Donald Trump has pledged to advocate for Bitcoin mining and criticized democratic regulatory efforts if re-elected.

Cryptocurrency may become the primary “Trump Trade” in the current election cycle as Republican prospects improve and their leading candidate, former President Donald Trump, according to Bernstein analysis.

Crypto Trump Trade May Repeat If Former President Is Reelected

Gautam Chhugani and Mahika Sapra, in their Monday report, highlighted that Republicans view a favorable position on the crypto industry as a dual advantage: attracting voters and securing campaign funds from super PACs that back pro-crypto politicians.

The term “Trump Trade” originated from the post-2016 election surge in the U.S. stocks, Treasury yields, and the dollar after Trump’s victory. 

Analysts predict a similar crypto Trump Trade will be repeated if the Republican party candidate wins again, driven by institutional adoption and a more favorable regulatory environment.

“The Republican side sees crypto not just as a vote bank but also a meaningful source of funding,” the analyst noted. 

They added sentiment that a shift in election towards the Republicans could bring back crypto Trump Trade and change the blockchain narrative with hopes for a supportive regulatory regime.

Trump Shows Enthusiasm for Crypto

Earlier this month, Trump expressed strong support for Bitcoin mining during a meeting with several miners at his Mar-a-Lago resort. 

He assured participants that he would advocate for Bitcoin mining if he returned to the White House. Trump also criticized Democrats’ regulatory attempts, positioning himself as a crypto advocate.

In May, Trump’s campaign launched a fundraising page allowing cryptocurrency donations through Coinbase Commerce, complying with Federal Election Commission regulations. 

This move enables supporters to contribute to his presidential campaign using digital currencies.

The Winklevoss twins, prominent Bitcoin investors, donated $1 million each to Trump, but the contributions were refunded as they exceeded the legal limit for individual donations to election candidates.

Fears are growing that  crypto exchanges in South Korea will begin altcoin delisting this year at the request of the financial authorities.

Per a report from Business Post, there is a real danger that altcoins will be “delisted one after the other” in the coming weeks.

Altcoin Delistings Fears Spooking South Korean Market?

The media outlet reported that industry officials suspect a repeat of 2021. This was the year when most major domestic crypto exchanges purged scores of low-cap coins from their platforms.

In 2021, exchanges acted out of apparent anticipation of coming regulatory action. With a rise in public scandals surrounding so-called “scam coins,” regulators are under pressure to act again.

Officials have stated that they want exchanges to operate listing audits. They want exchanges to check the credentials of coin projects regularly.

Underperforming tokens, projects that lack sufficient transparency, and projects that show few signs of recent development should be placed on “cautionary” lists, officials insist.

Repeat of 2021 Altcoin Cull Expected?

Business Post claimed experts now “cannot rule out the possibility that many altcoins will be delisted at once,” in a repeat of 2021.

The regulatory Financial Supervisory Service (FSS) said it will present a set of “best practices” for exchanges to refer to when making delisting decisions.

The FSS reportedly wants to roll out its new guidelines for altcoins next month. It allegedly wants these to coincide with the launch of the Act on the Protection of Virtual Asset Users.

The act is slated to come into effect on July 19. An unnamed crypto industry official told the media outlet:

“It is my understanding that the financial authorities will announce their new guidelines before the act comes into force. I believe that they are preparing to implement the guidelines as quickly as possible.”

Cryptocurrency exchanges to evaluate listed coinshttps://t.co/JmGdoGgNyv pic.twitter.com/tNYnFm6T3l

— The Korea Times (@koreatimescokr) June 16, 2024

The news appears to have spooked the market. Some lower-cap altcoin prices have dropped on major exchanges.

Exchanges Say No Mass Delisting Are Expected

Exchanges have been calling for calm, however. Media experts claim that high-cap coins like XRP, Solana, and Cardano with international credentials are safe.

They say that the FSS is much more likely to scrutinize lower-cap projects.

The market-leading South Korean crypto exchange Upbit said, in a press release published on June 19:

“Upbit already has a maintenance review process for cryptoassets. [We] conduct reviews of the coins we list on a regular basis. The so-called ‘lists of soon-to-be delisted coins’ spreading in some online communities are complete fiction.”

A chart showing trading volume per market pair on the Upbit crypto exchanges on June 24, 2024.

Trading volume per market pair on the Upbit crypto exchanges on June 24, 2024 | Source: CoinGecko

The exchange concluded: “It is very unlikely that any such large-scale delistings will take place.”

Bitcoin ETFs outflows have now exceeded $1 billion in the last ten days with zero inflows. The total outflows from Grayscale’s GBTC exceeded $18.4 billion since inception. BTC price flirts with $60,000.

Bitcoin ETFs recorded $170 million outflows with BlackRock’s IBIT recording zero inflows on Monday.

Bitcoin investment products saw over $600 million flowing out as institutional players panic.

Bitcoin’s underperformance with the US stock market continues as NASDAQ registers steady gains.

As the Bitcoin (BTC) price continues to hit lows, the spot Bitcoin ETFs in the US continue to witness major outflows for seven days in a row. 

On Monday, June 24, the total outflows across all nine spot Bitcoin ETFs was $174.5 billion, with none of the ETFs recording any kind of inflows. 

In the last ten days, the total outflows from the spot Bitcoin ETFs have exceeded $1 billion.

Bitcoin ETFs Continue to Bleed

After seeing $545 million in outflows, Bitcoin ETFs continue to bleed starting this week. 

Contributing to Monday’s outflows, Grayscale Bitcoin ETF GBTC recorded the most outflows at $90.4 million, as per data from Farside Investors. This has brought the total outflows from GBTC since inception, almost closer to $18.5 billion.

Fidelity’s FBTC suffered the second-biggest blow with $35 million in outflows on Monday. Since mid-June, FBTC has been seeing consistent outflows with the AUM dropping under $10 billion.

While several other Bitcoin ETFs have registered outflows, BlackRcok’s IBIT hasn’t recorded a single outflow since its inception. However, there have been multiple instances of zero inflows recently.

Well, this current sell-off clearly shows that the early excitement around the launch of the spot Bitcoin ETFs seems to be waning. 

Also, Bitcoin institutional interest has been dropping with the global market uncertainty. Last week, Bitcoin investment products registered $630 million worth of outflows.

Bitcoin Underperforms the US Stock Market

Amid the current BTC price correction, there’s been a huge divergence with the US stock market, especially the Nasdaq index. 

As we know, Bitcoin kicked-off the year 2024 with impressive gains following the launch of spot Bitcoin ETFs. However, the Q2 has been more of a consolidation phase as the BTC price remains range-bound.

On the other hand, since mid-May, the NASDAQ continued to show a steady climb extending its year-to-date gains to more than 20%. This clearly shows that the tech stocks have an edge over Bitcoin.

Bitcoin started the year with a bang. It outpaced the stock market significantly thanks to the launch of the ETFs.

But the recent trends show a divergence:• Bitcoin – Despite the early gains, BTC is now range-bound.• NASDAQ – Steady climb since mid-May, 20%+ returns YTD.… pic.twitter.com/ER72ut4irj

— ecoinometrics (@ecoinometrics) June 24, 2024

For the Bitcoin price rally to continue, it needs a strong catalyst in the form of liquidity infusion. Any signal of Fed pivot could lead to a strong reversal on the upside.

The price of Bitcoin (BTC) was able to recover to about $61K. Here’s what you need to watch according to this analyst.

Bitcoin’s price has been on a rollercoaster throughout the past couple of days, resulting in hundreds of millions of liquidations across the board.

Traders and analysts are now speculating on what’s next, with Willy Woo giving some insights on BTC’s short-term price targets.

BTC Bounces Back Above $61K

The BTC price went off a cliff yesterday, plunging to a low not seen since the beginning of May.

As seen in the chart below, the cryptocurrency tumbled to somewhere around $58,400 before staging a recovery.

This uptick in volatility caused a lot of liquidations in the futures market. Their number reached $360 million for the past 24 hours, with the overwhelming majority of them being long positions – as expected.

According to data from Coinglass, around $280 million of the liquidations were long.

Willy Woo, a well-known proponent and crypto veteran, provided an analysis of what happened and what the next steps for BTC should be.

What’s Next for the Bitcoin Price?

According to Willy Woo, yesterday’s move was largely caused by the long liquidation cascade in the futures market.

He argued that the main initial target for wiping off leverage was $62.5K, but then speculators kept adding to new long positions, “just adding more fuel for more liquidations in a cascading long squeeze.”

I don't usually do short time frame price action as it's the domain of gamblers. But worth a break down of what's happening given the fear in the market…

We've been flushing out the leverage, 62.5k was the target to get most of it.

Until… https://t.co/ughwSKGYoo

— Willy Woo (@woonomic) June 24, 2024

An additional factor for the crash was the capitulation of miners:

“Superimposed on this liquidaiton squeeze, we have a post halving miners capitulation. MIners are on a BTC selling spree to pay for hardware upgrades due to the old hardware no longer being profitable. The weakest miners closing shop and being liquidated,” stated Woo.

Woo predicted that short-term technical factors point to a reversal and that seems to be what happened – the BTC price went back up to about $61K.

However, the analyst warned that “BTC is not out of the woods.” According to him, it’s important to monitor how much of the speculation (read: leveraged positions) got cleared out of the system.

Without purging futures open interest, the system is not ready to move up.

On that front, data shows that less than 3% of the BTC open interest has been wiped off in the past 24 hours.

A recent report by CoinShares paints a bleak picture, revealing a staggering $630 million outflow from Bitcoin just last week as Bitcoin (BTC) takes a beating.

The once-sizzling crypto market continues to sputter, with Bitcoin, the undisputed king of the digital realm, leading the retreat.

After a euphoric climb that saw it breach the $73,000 level earlier this year, Bitcoin has shed its royal cloak, plummeting to new lows and dragging the entire crypto ecosystem into a period of frosty uncertainty.

Exodus From The Empire: Investors Pull Billions

The past weeks have been marked by a mass exodus from Bitcoin. Investors, spooked by the prolonged price slump, have been fleeing the flagship cryptocurrency in droves. 

A recent report by CoinShares paints a bleak picture, revealing a staggering $630 million outflow from Bitcoin just last week.

This follows a similarly hefty outflow of $631 million the week prior, marking a brutal two-week stretch for Bitcoin. The hemorrhaging extends beyond Bitcoin, with other prominent cryptocurrencies like Ethereum experiencing their own investor flight.

The sell-off isn’t confined to individual holdings. Bitcoin exchange-traded funds (ETFs), which allow traditional investors to dabble in crypto without directly owning it, have also been hit hard.

Major issuers like Fidelity and Grayscale have witnessed a six-day consecutive outflow, with hundreds of millions of dollars vanishing from their coffers. 

This mass exodus from both Bitcoin and Bitcoin ETFs paints a clear picture: investors are losing faith, seeking shelter from the crypto storm.

A Chink In The Armor? Not Quite

While the overall sentiment is undeniably bearish, there are a few glimmers of hope amidst the gloom. Short positions, which essentially bet on a price decrease, have seen a surprising decline of $1.2 million.

This could be interpreted as a decrease in bearish bets, hinting at a potential shift in investor sentiment. Additionally, some altcoins like Solana, Litecoin, and Polygon have defied the downward trend, registering healthy gains. 

This suggests that not all bets are off the table, and some investors might be seeking opportunities in other corners of the crypto market.

A Crypto Winter Thaw Or Avalanche?

The crypto market is no stranger to dramatic fluctuations. Bitcoin itself has a history of epic boom-and-bust cycles. 

However, the current downturn raises concerns about a prolonged “crypto winter” – a period of sustained decline.

Bubblemaps claims Jason Derulo sold his JASON tokens despite promises that he wouldn’t, while the controversial figure who apparently helped create the token claims “it’s all orchestrated.”

American singer Jason Derulo sold thousands of dollars worth of his newly launched crypto token JASON despite repeated claims that he “WILL NEVER SELL,” according to analytics firm Bubblemaps.

Watch my wallet I’m the top wallet on $JASON I WILL NEVER SELL https://t.co/H1meHNWEyW

— Jason Derulo (@jasonderulo) June 24, 2024

Meanwhile, the token’s controversial co-creator Sahil Arora told Cointelegraph it was all part of an “orchestrated” plan.

Earlier this week, Derulo, real name Jason Desrouleaux, shared a contract address for the Solana-based token on X on June 23, which saw a flurry of trading activity and its price pump and dump within minutes, DEX Screener shows.

Hours later, Derulo claimed that alleged serial scammer and celebrity meme coin promotor Sahil Arora “got me” but promised to “do everything in my power to send this shit to the moon.”

“Despite his claims, we doubt Jason Derulo got fooled by Sahil,” Bubblemaps posted to X on June 24.

It found wallets it claimed were associated with Arora that held half of JASON’s supply, which “dumped almost everything” and made a $180,000 profit after Derulo’s first post sharing the token.

Bubblemaps said a wallet it alleged belongs to Derulo — which “received tokens directly from” Arora’s wallet — has sold around $20,000 worth of the token despite Derulo saying he wouldn’t sell his tokens in at least three X posts.

6/ We have proof that wallet HtnZSBG belongs to @jasonderulo.

This address received tokens directly from Sahil's and has already sold 161 SOL ($20k)

Why is he promising never to sell on one wallet but selling with another?https://t.co/Yk12ipVLz1 pic.twitter.com/MTZlgdpeWb

— Bubblemaps (@bubblemaps) June 24, 2024

“Derulo’s actions don’t really match someone who got fooled,” Bubblemaps said.

“He immediately asked Ansem for a Space, hyped his community, hinted at burning tokens, and launched buy competitions,” it added.

Arora told Cointelegraph when asked about Bubblemaps’ claims that “it’s all orchestrated, we both have skin in the game and people with [brain emoji] can see that easy.”

Arora backed Bubblemap’s claim that the wallet it noted was Derulo’s.

Asked how the optics of Derulo selling his token played into the plan, he replied with a GIF of Dagestani influencer Hasbulla saying “business, business.”

Derulo could not be reached for comment.

The plan seems to have worked, with JASON up 175% in the last day and at a market capitalization of $7.7 million, but it is down 40.5% from its late June 24 peak of a little over one cent.

Louisiana Governor Jeff Landry signed a bill to prohibit central bank digital currencies (CBDCs) and protect crypto mining on June 19.

The bill, HB 488, prevents governing authorities from accepting or requiring payments in CBDCs. It also bars authorities from participating in CBDC tests by the Federal Reserve Board of Governors and other federal government bodies.

It guarantees individuals and businesses the ability to accept crypto for legal goods and services and to self-custody crypto in non-custodial and hardware wallets.

The remainder of the bill describes rules around crypto mining and node operation. It protects home crypto mining in compliance with local noise ordinances. It permits commercial crypto mining in industrial-zoned areas in compliance with all ordinances.

Under the law, operating a node to connect to a blockchain protocol or a secondary protocol, transferring crypto on the protocol, and staking on the protocol are legal.

Louisiana’s attorney general can act against fraud and other violations concerning mining and staking as a service. Participants must also abide by federal and state securities law.

The bill also blocks prohibited foreign parties from controlling digital mining businesses and requires existing parties to divest by August 2025. Prohibited foreign parties that do not comply will face civil penalties of up to $1 million or 25% of the foreign party’s interest in the business.

The bill amends existing law and comes into effect on Aug. 1.

Other States’ Efforts

Other states have introduced laws concerning the same issues. In May, Oklahoma’s governor signed a bill into law protecting crypto miners and self-custody of crypto. 

The same month, Montana’s governor signed a bill banning local governments from prohibiting mining.

Arkansas signed two bills in May imposing or permitting restrictions on crypto mining following the success of a more lenient bill in 2023.

Separately, several states are addressing the possibility of a CBDC. Ledger Insights said in February that 11 states had pending legislation on the matter, either blocking state acceptance of CBDC, rejecting CBDC as money, blocking state trial participation, or taking another approach.

At the federal level, the US House passed a bill to block the Federal Reserve from creating and issuing a CBDC without Congressional approval. The Senate must now consider the bill.

Iran officially unveiled its central bank digital currency (CBDC) on Sunday during a ceremony attended by Central Bank of Iran (CBI) Governor Mohammad Reza Farzin and chief executives of several major banks. 

This digital currency, issued electronically by the central bank, aims to streamline transactions within the country’s banking system. 

A pilot project will commence in July on the island of Kish, involving two major Iranian banks, Mellat and Tejarat, and will focus on retail transactions. 

The digital Rial’s introduction is part of Iran’s strategy to enhance its digital economy and payment infrastructure.

Pepe Price Analysis: Pepe coin is performing better than most other cryptocurrencies in the market today as it looks to add more gains. Pepe’s open interest increased which is bullish.

PEPE Open Interest (OI) increased 14% across exchanges in the last 24 hours.

PEPE Long/Short ratio jumped to 1.93, with 65.82% of traders Long, and 34.18% Short

Over 78% of Pepe holders in profit

Pepe price analysis: PEPE price surged by 12.6% in the last 7 days, including a 10% increase in the past 24 hours to trade around $0.00001189. 

Pepe’s price has been moving sideways for some time now and the recent spike in price may be in anticipation of ETH ETFs trading potentially beginning soon.  

PEPE price has been correcting from its previous all-time high (ATH) price for about a month now. The has also previously broken out of an ascending triangle in a classic textbook breakout, which is usually followed by a retest.

The price of PEPE is now at the upper trendline of the ascending triangle, trending sideways along this support level. 

PEPE has been in consolidation for the past 11 days, further reinforcing the $0.0000105 support level as a potential bounce-off area. 

The correction in price has formed a one-month-long falling wedge which is expected to break out to the upside in a 96% move that will set the PEPE price at a new ATH price of $0.00002096.

Pepe price action just crossed above the 50-day simple moving average (SMA), which is a bullish signal for crypto investors. Additionally, the 24-hour trading volume for PEPE, according to CoinGecko data, surged by 105%, indicating an uptick in investor interest.

The relative strength index is currently at 48 and rising. Moreover, the RSI has crossed above its moving average (MA) on the daily timeframe, an indicator that Pepe’s price is setting up for more upside. 

However, a break above the RSI (14) midpoint may constitute a more confident indicator of further upside movement.

On its way up, the price of Pepe may encounter some resistance around $0.00001725, and $0.00001981. Conversely, in a downward scenario, key support structures around $0.00000848 and $0.00000733 may support the PEPE price up.

Fundamentals Flash Buy Signals For Pepe Price

Data from Coinalyze shows that 1000PEPE Open Interest (OI) increased by 14% across crypto exchanges in the last 24 hours, with Binance having the largest share. 

This means money is flowing into Pepe, and is a signal that PEPE price may fly soon.

Additionally, the 24-hour 1000 PEPE Long/Short ratio jumped to 1.93, with 65.82% of traders Long on PEPE and 34.18% Short. This signals that most traders across exchanges are bullish on the meme coin.

Crypto analyst, Decilizer, opines that Pepe is gearing up to slash a zero if Bitcoin price remains bullish. 

Bottom Line

Pepe has a habit of pumping the hardest in the case of Ethereum good news, and this recent jump in price may be an indicator that something is cooking up for Ethereum price.

Pepe Price Analysis: Pepe coin is performing better than most other cryptocurrencies in the market today as it looks to add more gains. Pepe’s open interest increased which is bullish.

PEPE Open Interest (OI) increased 14% across exchanges in the last 24 hours.

PEPE Long/Short ratio jumped to 1.93, with 65.82% of traders Long, and 34.18% Short

Over 78% of Pepe holders in profit

Pepe price analysis: PEPE price surged by 12.6% in the last 7 days, including a 10% increase in the past 24 hours to trade around $0.00001189. 

Pepe’s price has been moving sideways for some time now and the recent spike in price may be in anticipation of ETH ETFs trading potentially beginning soon.  

PEPE price has been correcting from its previous all-time high (ATH) price for about a month now. The has also previously broken out of an ascending triangle in a classic textbook breakout, which is usually followed by a retest.

The price of PEPE is now at the upper trendline of the ascending triangle, trending sideways along this support level. 

PEPE has been in consolidation for the past 11 days, further reinforcing the $0.0000105 support level as a potential bounce-off area. 

The correction in price has formed a one-month-long falling wedge which is expected to break out to the upside in a 96% move that will set the PEPE price at a new ATH price of $0.00002096.

Pepe price action just crossed above the 50-day simple moving average (SMA), which is a bullish signal for crypto investors. Additionally, the 24-hour trading volume for PEPE, according to CoinGecko data, surged by 105%, indicating an uptick in investor interest.

The relative strength index is currently at 48 and rising. Moreover, the RSI has crossed above its moving average (MA) on the daily timeframe, an indicator that Pepe’s price is setting up for more upside. 

However, a break above the RSI (14) midpoint may constitute a more confident indicator of further upside movement.

On its way up, the price of Pepe may encounter some resistance around $0.00001725, and $0.00001981. Conversely, in a downward scenario, key support structures around $0.00000848 and $0.00000733 may support the PEPE price up.

Fundamentals Flash Buy Signals For Pepe Price

Data from Coinalyze shows that 1000PEPE Open Interest (OI) increased by 14% across crypto exchanges in the last 24 hours, with Binance having the largest share. 

This means money is flowing into Pepe, and is a signal that PEPE price may fly soon.

Additionally, the 24-hour 1000 PEPE Long/Short ratio jumped to 1.93, with 65.82% of traders Long on PEPE and 34.18% Short. This signals that most traders across exchanges are bullish on the meme coin.

Crypto analyst, Decilizer, opines that Pepe is gearing up to slash a zero if Bitcoin price remains bullish. 

Bottom Line

Pepe has a habit of pumping the hardest in the case of Ethereum good news, and this recent jump in price may be an indicator that something is cooking up for Ethereum price.

BitDoge, a new meme coin hosted on the Bitcoin network, has launched its presale, introducing a unique concept by integrating play-to-earn (P2E) mechanics with a Bitcoin-based narrative to engage both gamers and crypto enthusiasts.

The BitDoge presale is now live and accessible to the public: https://bitdoge.io/BdjPW0DhkD 

Key Features and Development Plans

BitDoge offers several innovative features aimed at creating a robust and engaging ecosystem:

Staking System: A user-friendly staking system designed to provide attractive rewards for long-term holders.

Play-to-Earn Ecosystem: Participants can earn BitDoge tokens by engaging in games, merging entertainment with financial incentives.

AI Chat Feature: Interactive experiences featuring AI-driven interactions with personas like Doge, Elon Musk, or Satoshi Nakamoto.

The project’s roadmap outlines strategic milestones, starting with building a strong community foundation and progressing towards product launches and potential major exchange listings. 

Future developments include BitDoge-themed NFTs and a comprehensive rewards system for early supporters.

Security and Stability

Hosted on the Bitcoin network, BitDoge benefits from the security and stability associated with Bitcoin. The project has undergone auditing by leading blockchain experts, ensuring a solid and secure start.

Community Engagement

BitDoge’s team emphasizes community involvement and has outlined stages for global expansion, including a marketing surge to reach a wider audience.

For more information and updates, users can join BitDoge Community and follow on Twitter.

About BitDoge

BitDoge is a revolutionary meme coin that combines the charm and community spirit of Dogecoin with the security and stability of Bitcoin. 

BitDoge aims to bring a fun, accessible, and secure digital asset to the crypto market.

With features like staking, Play-to-Earn games, and AI-driven interactions, BitDoge offers a vibrant and engaging ecosystem for all crypto enthusiasts. 

Disclaimer: The information provided is not trading advice. Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.