WILLEMSTAD, Curacao, September 30th, 2024, Chainwire

BC.GAME, a leading crypto igaming platform, has officially announced the launch of the $BC Mining Rush, an exclusive event with a staggering prize pool of 1 billion $BC tokens. The event will run from October 1 to October 20, 2024, with pre-registration starting on September 24, offering players the chance to win daily rewards simply by placing bets of $1 or more.

This event aims to offer participants an easy entry into the crypto space, providing opportunities for daily wins while keeping participation straightforward and accessible.

Key Highlights of the $BC Mining Rush

The $BC Mining Rush boasts a daily prize pool of 50 million $BC tokens. Players can enter the prize draw with a minimum wager of $1. Larger wagers can increase a participant’s share of the daily rewards. This format enables both new and experienced players to compete for a portion of the overall 1 billion $BC prize pool.

Pre-Registration for Early Access

Pre-registration begins on September 24, 2024, and will remain open until the end of the event on October 20, 2024. Early registrants can maximize their chances of winning by participating from the start. While late registration is possible, opportunities decrease as the event progresses.

Easy and Accessible Participation

The event is designed to be user-friendly, requiring no complex procedures or technical expertise. Participants need only place their wagers daily, with rewards distributed the following day. This straightforward approach ensures players of all experience levels can engage easily and transparently.

Daily Rewards Based on Wagers

Each day of the event offers new chances to win a portion of the 50 million $BC daily prize pool. A participant’s rewards will correspond to their percentage of total wagers for that day, with higher wagers increasing the potential for larger returns.

How to Participate:

Step 1: Users should register for the $BC Mining Rush on the BC.GAME website, starting September 24, 2024.

Step 2: Users should place a wager of at least $1 every day from October 1 to October 20, 2024.

Step 3: Users will receive daily prize distributions based on their participation in the event.

A New Era of Crypto Gaming and Rewards

BC.GAME continues to lead the crypto gaming sector with initiatives like the $BC Mining Rush. The event underscores the platform’s dedication to providing engaging and rewarding opportunities for its community, while introducing new users to the expanding world of crypto gaming.

“We are thrilled to bring the $BC Mining Rush to our community,” said Jack Dorset, CEO of BC.GAME. “This event is our way of rewarding loyal players while introducing new users to the thrill of crypto gaming with the chance to win big.”

The $BC Mining Rush promises to be a landmark event in the crypto world, offering an unparalleled opportunity for participants to increase their portfolios with rewards.

For more information, users can visit BC.GAME’s official website and follow them on social media to stay updated on all the latest developments.

About BC.GAME

BC.GAME is a leading online gaming platform offering a wide range of games and sports betting opportunities. Known for its user-friendly interface, robust security, and commitment to innovation, BC.GAME continues to be a top choice for crypto enthusiasts worldwide. With exciting events like the $BC Mining Rush, BC.GAME provides unparalleled opportunities for both gaming and earning within the crypto ecosystem.

For more information, users can follow BC.GAME on Twitter.

Contact

Olivia Dixon
BC.GAME
oliviadi@bcgame.com

The post BC.GAME Announces Launch of $BC Mining Rush Event with 1 Billion $BC Token Prize Pool appeared first on Blockonomi.

ETFSwap (ETFS) is currently making headlines in the crypto and Decentralized Finance (DeFi) space, with its third presale stage garnering significant attention and demand from global investors. This innovative crypto project has achieved a momentous feat by raising more than $4 million in revenue just before its beta launch. While this milestone underscores the immense potential of the ETFS token in the crypto market, its beta launch is also set to bring diverse trading and investment opportunities for investors.

ETFSwap (ETFS) Presale Hits $4 Million Milestone Before Beta Launch

The ETFSwap (ETFS) presale is one of the most sought-after Initial Coin Offerings (ICOs) in the crypto space currently. After launching a few months ago, the presale garnered substantial attention from thousands of investors and crypto enthusiasts. The ongoing ETFSwap (ETFS) presale has surpassed the expectations of many market experts after successfully accumulating $4 million in revenue by selling off over 500 million tokens. This achievement comes just days before the long-awaited beta launch, which will see users gain access to the phase 1 beta platform.

After a series of User Interface (UI) tests to guarantee ETFSwap’s efficiency and robust performance, the backend of the phase 1 beta platform was finally developed.  In phase 1, users will be able to participate in diverse liquidity pools and enjoy access to staking mechanisms, ETF prices, swapping features and more. During phase 2 of the beta platform, there will be Artificial Intelligence (AI) backed tools like ETF trackers, screeners, filters and many more.

Analysts believe that following the beta launch on September 28, ETFSwap (ETFS) will experience a massive increase in demand, potentially catalyzing a rally for ETFSwap’s native token, ETFS, which is currently priced at $0.0346. The expectation from top analysts is that the ETFS token will skyrocket 10,000%, to reach $3.88 in this bull cycle.

ETFSwap (ETFS): The Next Generation Crypto And ETF Trading System

The ETFSwap (ETFS) beta launch is just one of many exciting developments investors are looking forward to within the ETFSwap ecosystem. As a next-generation DeFi platform, ETFSwap (ETFS) makes use of blockchain technology to facilitate the buying and trading of tokenized Exchange-Traded Funds (ETFs). These ETFs are backed by Real World Assets (RWA), meaning they have a unique value and can be traded with lesser risks. ETFSwap (ETFS) also provides access to an extensive library of ETFs, ranging from commodity ETFs to gold ETFs and more.

Even more interestingly, this innovative platform generates AI-backed ETF recommendations to help users invest in the most profitable or popular ETFs in the market. Its advanced tools, such as 24/7 market coverage, early access to ETF listing and high-yield ETF trading strategies, will help users potentially bolster their trading returns and improve their overall performance.

These advanced features also come with heightened security and privacy protocols which protect users from any form of fraud or cyber threats. As a commitment to protecting its users, ETFSwap’s smart contracts have undergone a stringent audit by CyberScope while the ETFSwap (ETFS) team has recently completed a KYC verification evaluation with SolidProof, a top smart contracts security auditing company.

Including its amazing security and trading features, ETFSwap (ETFS) also provides attractive incentives for investors of the ETFS token and tokenized ETF traders. Token holders will have the ability to stake their ETFS to earn passive income and regular rewards.

Additionally, trading ETFs on ETFSwap (ETFS) will make users eligible for a 10X trading position increase and an APR yield of up to 87%. A few other amazing incentives include monthly token airdrops, 50X trading power across all listed ETFs, and much more.

Wrapping Up

The ETFSwap (ETFS) presale is in its final stage and offers users a last opportunity to invest in the ETFS token at a modest price. With a rally expected following ETFSwap’s beta launch, many investors are heavily accumulating tokens during the presale to secure their positions before the projected 10,000% bullish surge. Do not miss out on this final chance, and invest in ETFS before the anticipated beta launch.

For more information about the ETFS Presale:

 Visit ETFSwap Presale

Join The ETFSwap Community

The post ETFSwap (ETFS) Presale Beats Expectation After Raising More Than $4 Million Before Beta Launch appeared first on Blockonomi.

TLDR

Chainlink (LINK) shows potential for 20% price increase after bullish pattern breakout

LINK’s Long/Short ratio at 1.031 indicates bullish market sentiment

Positive OI-weighted funding rate of 0.0087% further signals bullish outlook

Key price levels to watch are $13.10 (breakout confirmation) and $15 (potential target)

Trading volume has declined 25%, suggesting lower trader participation currently

Chainlink’s native token LINK may be on the verge of a significant price surge, according to recent technical analysis.

Crypto traders are closely watching LINK after it broke out of a bullish double-bottom pattern on daily charts, potentially signaling further upside ahead.

The double-bottom is a common chart pattern that often precedes price increases. For LINK, a daily close above the $13.10 level would confirm the bullish breakout. If this occurs, analysts suggest LINK could rally as much as 20% to reach $15 in the near term.

On-chain metrics paint a mixed but generally positive picture for LINK. Data from analytics firm Coinglass shows LINK’s Long/Short ratio currently sits at 1.031, indicating traders are positioning bullishly overall.

The token’s open interest-weighted funding rate is also in positive territory at 0.0087%, typically seen as another bullish signal.

Chainlink Price on CoinGecko

However, LINK’s Relative Strength Index (RSI) still points to a downtrend, presenting a counterpoint to the bullish outlook. The RSI is an important technical indicator used to assess whether an asset is overbought or oversold.

LINK’s future open interest has remained steady over the past day. This suggests traders have neither closed out existing positions nor opened many new ones, possibly due to uncertainty about potential price corrections.

Key liquidation levels to monitor are $12.12 on the downside and $13.16 on the upside, where Coinglass data shows traders are most heavily leveraged.

At the time of writing, LINK is trading near $12.65, up over 1.2% in the last 24 hours. However, its trading volume has declined by 25% over the same period, indicating lower overall market participation.

The broader cryptocurrency market has remained relatively stable recently. Major coins like Bitcoin, Ethereum, and Solana have not seen any significant rallies.

For traders considering LINK positions, the $13.10 level appears to be the key threshold to watch. A decisive move above this price could attract more buyers and potentially kick off the projected 20% upswing. However, a failure to break this resistance could lead to consolidation or a pullback.

The post LINK Price Analysis: Key Levels at $13.10 and $15 After Recent Breakout appeared first on Blockonomi.

TLDR

Sui (SUI) price surged 10% in 24 hours, showing bullish momentum

Open interest increased 20%, indicating growing market confidence

Technical indicators suggest Sui may reach all-time high soon

Sui price rose 15% in a week and 125% in a month

Current price is $1.83, nearing previous all-time high of $2.18

Sui, a layer-1 blockchain cryptocurrency, has experienced a notable price increase recently, catching the attention of investors and traders. The digital asset has shown strong bullish momentum, with its price rising sharply over the past day and week.

As of the latest data, Sui’s price stands at $1.83, marking a 10% increase in the last 24 hours. This surge is part of a larger upward trend, with the cryptocurrency gaining 15% over the past week and an impressive 125% over the last month.

These significant gains have brought Sui close to its all-time high of $2.18, which was reached six months ago.

The recent price movement represents a substantial recovery for Sui. Since hitting a record low of $0.3643 last year, the cryptocurrency has climbed more than 400%, demonstrating the volatile nature of the crypto market and growing interest in Sui.

Technical indicators support the bullish outlook for Sui. The Relative Strength Index (RSI) currently sits at 79, suggesting that the asset may be in overbought territory.

Sui Price on CoinGecko

Additionally, the Moving Average Convergence Divergence (MACD) shows a strong divergence above the signal line, further reinforcing the positive trend.

Market data from Coinglass reveals a significant increase in open interest for Sui futures contracts. This surge in open interest, which has risen by 20%, indicates growing confidence and speculative activity in the Sui market.

The increase in trading volume and open interest aligns with the positive price movement, suggesting that more traders are taking positions in anticipation of further gains.

The broader cryptocurrency market context also appears to be favorable for Sui. Bitcoin’s recent stabilization around the $65,000 mark has had a positive effect on other digital currencies, potentially contributing to Sui’s upward momentum.

Looking ahead, Sui faces notable resistance at the $2 level. If market conditions remain favorable, the asset could potentially reach $2.1, with its previous all-time high of $2.18 representing a nearly 17% increase from its current position.

However, it’s important to note that cryptocurrency markets are known for their volatility, and past performance does not guarantee future results.

Sui’s recent price performance can be traced back to mid-September when it found support around the $1 level. Since then, the asset has shown consistent growth, reaching new resistance levels and generating increased interest among market participants.

The post Sui Cryptocurrency Price Rises 10% in 24 Hours, Approaches All-Time High appeared first on Blockonomi.

TLDR

ICP token up 16% in past week despite overall market dip

Potential reversal forming, threatening recent gains

$9.90 resistance level rejection could push price below $9.23 support

Network activity and fees surged over 5000% in past 30 days

Founder highlights ICP network’s reliability at Token2049 conference

The cryptocurrency Internet Computer (ICP) has seen significant gains and increased network activity in recent weeks, even as the broader crypto market experiences volatility.

According to market data, the ICP token has risen 16% over the past week, outperforming many other cryptocurrencies during a period when the overall market was down several percent.

This upward price movement for ICP began in early August and has largely continued through September, with only minor dips along the way.

The token is currently trading around $9.60, having faced resistance at the $9.90 level. Some analysts warn that rejection at this resistance point could lead to a pullback, potentially pushing the price below the $9.23 support level.

The relative strength index (RSI) for ICP is also signaling that bulls may be reaching their limits in the near term, adding to the possibility of a price correction.

BREAKING: Internet Computer has generated more fees than @Optimism, @arbitrum, @avax, and @0xPolygon in the past 30 days. pic.twitter.com/lqaUoA5cc9

— Token Terminal (@tokenterminal) September 24, 2024

If the token fails to stabilize at current levels, bears could potentially drive the price down to around $8.09. However, if support holds, there is a chance ICP could break through resistance and target the $11.41 level.

Despite these short-term price fluctuations, Internet Computer has seen a dramatic increase in network activity over the past month. Data from Token Terminal shows that ICP network fees have surged by over 5000% in the last 30 days.

This spike in activity has led Internet Computer to generate more fees than several other prominent layer-1 blockchains, including Optimism, Arbitrum, Avalanche, and Polygon.

The surge in network usage is largely attributed to bob.fun, a blockchain application built on top of the Internet Computer protocol. This increased adoption demonstrates growing interest in ICP’s technological capabilities.

Dominic Williams, Founder and Chief Scientist of the DFINITY Foundation, which develops the Internet Computer protocol, recently spoke at the Token2049 conference in Singapore. He emphasized the reliability of the ICP network, stating,

“When you’re running software or a system on the ICP network, it never crashes or stops running.”

Internet Computer Price on CoinGecko

This focus on stability and performance appears to be resonating with some developers and users in the blockchain space.

Internet Computer’s market capitalization currently stands at approximately $4.5 billion, reflecting its position as a mid-sized player in the cryptocurrency ecosystem.

The recent price rally and surge in network activity have brought increased attention to the project, though it’s important to note that cryptocurrency markets are highly volatile and subject to rapid changes.

The ICP token’s ability to maintain its upward momentum will likely depend on a combination of factors, including broader market conditions, continued network adoption, and the project’s ability to deliver on its technological promises.

The post Internet Computer Token Rises 16% as Network Activity Surges appeared first on Blockonomi.

TLDR

HMSTR token dropped 14% in one day, 42% in three days

Current price: $0.005613, all-time low reached on Sunday

Market cap: $365 million, ranked 193rd among cryptocurrencies

64,375,000,000 HMSTR in circulation, $248 million traded in 24 hours

Top 5 wallets hold 93.95% of total HMSTR supply

The TON-based cryptocurrency Hamster Kombat (HMSTR) has seen a substantial decline in value since its recent launch.

Data from Sunday, September 29, 2024, shows that the token’s price fell by 14% against the U.S. dollar in a single day, contributing to a total decrease of over 42% in just three days since its debut on major exchanges.

HMSTR, the native token for the Web3 game Hamster Kombat, initially traded at $0.009993 when it first appeared on exchanges.

However, by Sunday, the price had plummeted to $0.005613, marking a new all-time low for the cryptocurrency. This sharp decline follows a reported 30% drop in value on its opening day of trading.

Hamster Kombat is a click-to-earn game hosted on the TON blockchain through Telegram. Players earn HMSTR coins by tapping on digital hamsters, which can then be used for in-game upgrades, participating in mini-games, and advancing their operations.

The game includes features such as daily missions, social elements, and mining mechanics to engage players.

The HMSTR token was distributed through an airdrop to active players, rewarding them for their achievements and engagement within the game.

Hamster Kombat Price on CoinGecko

Despite its recent price struggles, HMSTR still maintains a market capitalization of $365 million, positioning it as the 193rd largest cryptocurrency out of more than 10,000 digital assets.

Currently, there are 64,375,000,000 HMSTR tokens in circulation. In the past 24 hours, the token has seen $248 million in global trading activity, with Binance emerging as the most active exchange for HMSTR trades.

According to data from tonscan.com, HMSTR has 12,498,400 holders, and its maximum supply is set at one hundred billion tokens.

The distribution of HMSTR tokens shows a high concentration among a small number of wallets. The top wallet holds 61,362,223,003 tokens, which represents 61.36% of the total supply.

Binance’s hot wallet ranks second, holding 14,356,128,737 HMSTR, or about 14.36% of the total supply. Notably, the top five wallets collectively control 93.95% of the entire HMSTR supply, indicating a significant concentration of ownership.

This concentration of tokens in a small number of wallets could potentially impact the token’s price stability and liquidity in the future.

The success and stability of HMSTR may depend on its ability to broaden its holder base and maintain player engagement in the Hamster Kombat game.

The trading volume for HMSTR over the past 24 hours reached $248 million, suggesting active interest in the token despite its price decline. However, like many newly launched cryptocurrencies, HMSTR has experienced a volatile start in the market, which may present challenges for its future stability.

The post HMSTR Token Drops 42% in First Three Days of Trading appeared first on Blockonomi.

TLDR

Arthur Hayes invested $250,000 in PEPE, buying 24.39 billion tokens on Binance

PEPE reached a 3-month high of $0.0000109, with significant gains over the past month

PEPE’s trading volume surged 41% to $2.5 billion in 48 hours

Hayes also expressed support for Mog Coin (MOG) and Mother Iggy (MOTHER) token

The memecoin sector is showing renewed investor interest and price momentum

Former BitMEX CEO Arthur Hayes has made a significant investment in the memecoin sector, purchasing $250,000 worth of PEPE tokens. This move comes as PEPE and other memecoins experience a surge in value and trading volume.

On-chain analytics platform Lookonchain reported that Hayes bought approximately 24.39 billion PEPE tokens on Binance last Friday. This investment coincides with PEPE reaching its highest price in nearly three months, trading at $0.0000109.

PEPE has seen impressive gains recently. According to data from CoinGecko, the token has increased by 34% over the past week, 45% over two weeks, and 38% over the past month. The token’s trading volume has also spiked, rising 41% in the last 48 hours to reach nearly $2.5 billion.

Pepe Price on CoinGecko

This increased trading activity suggests growing investor interest in PEPE and the broader memecoin sector. The favorable market conditions may be partly due to the US Federal Reserve’s decision to cut interest rates on September 18, which has created a positive environment for many cryptocurrencies.

As of the latest trading hours, PEPE is up 17%, trading at $0.0000107. However, it remains 37% below its all-time high of $0.0000171, which was reached in May. Despite this, Hayes’s endorsement appears to be fueling continued investor interest in the token.

Hayes’s involvement in the memecoin space extends beyond PEPE. He has also expressed support for two other tokens: Mog Coin (MOG) and the Mother Iggy (MOTHER) token. The latter is associated with Australian singer Iggy Azalea and is built on the Solana blockchain.

While Lookonchain has not confirmed whether Hayes invested in these tokens as he did with PEPE, his endorsement has already had a positive impact on MOG’s price. MOG is currently trading at $0.00000165, a gain of over 10% following Hayes’s announcement.

The token has seen a massive year-to-date surge of 10,398%, along with a 5.70% increase in trading volume. However, it remains 32% below its peak of $0.0000024, which it reached in July.

The MOTHER token, on the other hand, has faced some challenges in maintaining its momentum. It is currently trading down nearly 14% in the past 24 hours.

However, it has still recorded substantial gains of 75% over the last week and 176% in the past two weeks, indicating that it remains an asset of interest despite recent volatility.

Hayes’s investment in PEPE and his support for other memecoins highlight the growing traction this sector has gained over the past year.

Memecoins have often outperformed larger, more established cryptocurrencies, attracting both retail and institutional investors seeking high-risk, high-reward opportunities.

The post Arthur Hayes Invests $250,000 in PEPE as Memecoin Market Surges appeared first on Blockonomi.

The growing scale of the cryptocurrency market has brought staking to the fore as one of the many passive income-generating means. Staking is a process of holding cryptocurrencies in a wallet for the purpose of supporting the operation of blockchain networks in verifying transaction blocks. As a reward, the users are compensated by receiving more cryptocurrency, an often paid method for Annual Percentage Yield.

With all the platforms offering staking services in 2024, it is getting difficult to determine which one to choose. This guide will explain what exactly it is, how to determine the best place for your needs, and introduce you to the top 7 crypto staking platforms as below mentioned.

OkayCoin

Binance

Kraken

Coinbase

crypto.com

OKX (formerly OKEx)

Bitfinex

What is Crypto Staking?

Crypto-staking is a process where a particular cryptocurrency is locked up in a blockchain network to contribute to the security of the network and validate its transactions. In return, stakers get rewards for their participation. Staking is part of the Proof of Stake consensus mechanism, enabling the networks to function efficiently without going through the energy-intensive mining process.

By staking crypto, your coins help secure the network, and in return, you get rewarded with a certain fraction of the staked coins-a method called APY. It is excellent for passive income earners for the long-term holders who believe in the future growth of the project.

How to Choose the Best Crypto Staking Platform

Following are the key points that will help you in choosing:

Security: Go for those platforms with top-notch security features such as encryption, cold storage, and multi-factor authentication to guarantee the safety of your assets.

Staking Rewards: The APY rate varies across different platforms. Look for those that allow you to maximize rewards.

Supported Coins: Platforms differ on the number of cryptocurrencies that they allow staking. Choose a platform that does support the coins you are holding or are interested in staking.

Lock-Up Period: The option of flexible staking on some platforms contrasts with the need to lock up your assets on others. Think about your liquidity requirements as you make your choice.

Ease of Use: A good interface with solid customer support makes all the difference, but that’s very subjective, especially for inexperienced traders.

OkayCoin.com

OkayCoin is the best available platform to hold for staking purposes, especially when taking a beginner into question to earn passive income by using a simple interface and competitive rewards.

How to Sign Up on OkayCoin

Open the official website of the exchange, OkayCoin.

Click “Sign Up” and create an account with your email address and password.

Perform Know Your Customer. 

Deposit your crypto into your OkayCoin wallet. 

At the time you sign up, you will receive a welcome bonus of $100. 

Staking plans to Earn Rewards

Free Trial Staking Plan:  $100 for 1 day and earn $1 daily.

Ethereum Staking Plan:  $300 for 1 day and earn $6 daily.

Polygon Staking Plan:  $800 for 3 days and earn $8 daily.

TRON taking Plan:  $1200 for 7 days and earn $12 daily.

Polkadot Staking Plan:  $3000 for 7 days and earn $33 daily.

Celestia Staking Plan:  $6000 for 14 days and earn $72 daily.

Aptos Staking Plan:  $10,000 for 15 days and earn $140 daily.

Sui Staking Plan:  $20,000 for 15 days and earn $280 daily.

Avalanche Staking Plan:  $35,000 for 20 days and earn $525 daily.

Cardano Staking Plan:  $56,000 for 30 days and earn $896 daily.

Solana Staking Plan:  $78,000 for 30 days and earn $1,404 daily.

Referral Program

OkayCoin also has a very rewarding referral program that allows users to invite friends and earn bonuses. If the referral completes staking successfully, both the referrer and referee will get crypto rewards. Here , you will get a 3.5% commission of every order.

Binance

Binance is a single largest crypto exchange in the world, offering a wide variety of staking options with flexible and locked terms. You can stake as much as 20% for different coins, including Ethereum 2.0 and Solana (SOL). Over 100 cryptocurrencies supported on Binance for staking. Flexible and locked staking options are available, with lock-up periods ranging from 7-90 days. There is an impeccable security through insurance funds in case of a breach.

Kraken

Kraken is an established exchange with excellent reviews for its transparency and security. It offers up to 23% on  assets such as Polkadot DOT and Cosmos ATOM. It supports about 15 coins, which also includes Ethereum ETH and Cardano ADA. It does flexible staking where you can pull out anytime. This is one of the Most secure platforms, which features great encryption and cold storage.

Coinbase

Appears to be very approachable, fitting for complete beginners and people looking for easy staking. When considering Staking plans, there are  up to 5.75% for tokens such as Ethereum (ETH) and Tezos (XTZ). Very low number of coins are supported; at the same time, major cryptocurrencies like Ethereum and Tezos are included. Lock-Up Periods are Flexible, with a lot of ease in withdrawals. Coinbase is one of the most secure exchanges, with FDIC insurance on USD deposits.

Crypto.com

Crypto.com provides competitive staking rewards and extra perks through its CRO token. You can stake up to 14% on CRO and other supported coins. It supports staking for more than 40 coins. Both flexible and fixed staking available, with better APY as lock-up time increases. It gives users the ability to make as much as $50 by referring friends who join Crypto.com and stake some coins.

OKX (formerly OKEx)

OKX offers flexible and fixed staking with a wide variety of supported assets. You can stake up to 15% on many assets. It supports more than 30 coins, including Ethereum (ETH), Polkadot (DOT), and stablecoins. This offers both short- and long-term staking, with high rewards given for longer lock-up periods.

Bitfinex

Other exchanges considered reputable for crypto staking, focusing on security and yielding competitively, are Bitfinex. You have the chance to stake up to 10% on selective assets like Tezos (XTZ) and Polkadot (DOT). It supports over 10 different assets for staking. No fixed lock-up timeframes for some underlying assets; therefore, flexibility while staking is allowed.

Conclusion

Investment objectives are to be considered with preferred virtual coins and desired flexibility. Okacoins stood out due to the ease of signing up, competitive APYs, and having a strong referral program. Binance, Kraken, and Coinbase all provide great alternatives to Okcoin’s offering with unique features geared toward various different needs in staking. OkayCoin is the best short-term and most rewarding experience in staking for both new and experienced crypto investors in the year 2024.

The post 2024’s Top 7 Crypto Staking Platforms: How to Pick the Best One appeared first on Blockonomi.

TLDR

Meta’s stock surge boosts Zuckerberg’s net worth to $201B

Meta’s market cap exceeds $1.4 trillion

Zuckerberg unveils Orion AR glasses and Quest 3S VR headset

Meta reduces metaverse budget by 20%

Company shifts focus towards AI development

Meta, formerly known as Facebook, has seen a remarkable turnaround in its fortunes, with its stock price surging to approximately $567 per share as of September 2024.

This represents a more than sixfold increase from its November 2022 low of around $88 per share. The tech giant’s market capitalization now exceeds $1.4 trillion, solidifying its position as one of the world’s most valuable companies.

This stock rally has had a significant impact on CEO Mark Zuckerberg’s personal wealth. His net worth has climbed to $201 billion, making him the fourth-richest person globally, behind Elon Musk, Jeff Bezos, and Bernard Arnault.

Meta’s journey since its rebranding in October 2021 has been marked by both challenges and innovations. Initially, the company’s focus on metaverse development and hardware led to a sharp decline in its stock price, with investors expressing concerns about this new direction.

However, the tide began to turn as other tech giants like Apple, Google, Nvidia, and Microsoft also started developing metaverse-related technologies.

In September 2024, Zuckerberg unveiled two new products at a Meta Connect event in California. The first was the Orion augmented reality glasses, which feature small projectors that create a virtual heads-up display overlaid on real-world objects.

The second was the Quest 3S virtual reality headset, a more affordable version set to replace the earlier Quest 3 128 GB model.

Despite these product launches and the overall stock price recovery, Meta has made some strategic adjustments to its metaverse ambitions. In July 2024, the company announced a 20% reduction in its metaverse budget.

It also instructed its Reality Labs division, responsible for metaverse development, to cut department expenses by 20% by 2026. This decision comes in light of the division’s significant losses, totaling $60 billion since 2019, including continued losses in the second quarter of 2024.

The scaling back of metaverse investments coincides with a growing emphasis on artificial intelligence (AI) within Meta.

Zuckerberg has indicated that the company is looking to expand its AI business by narrowing its focus and increasing capital investment in AI research.

During a July 31 earnings call, he highlighted the release of “the first frontier-level open-source AI model” and mentioned the positive reception of the Ray-Ban Meta AI glasses.

This shift in focus reflects broader trends in the tech industry, where AI has become a major area of investment and innovation. Meta’s move suggests a strategic realignment to capitalize on the growing importance of AI technologies across various sectors.

The company’s journey since its rebranding has been marked by both bold moves and necessary adjustments. While the metaverse remains part of Meta’s long-term vision, the immediate focus appears to be on leveraging AI to drive growth and innovation.

This balanced approach seems to be resonating with investors, as evidenced by the strong recovery in Meta’s stock price.

The post Zuckerberg’s Net Worth Hits $201B as Meta Shares Climb appeared first on Blockonomi.

TLDR

A crypto wallet drainer disguised as WalletConnect was on Google Play for 5 months

The app stole over $70,000 from more than 150 users

It used advanced evasion techniques to avoid detection

The malicious app had over 10,000 downloads

This marks the first time drainers exclusively targeted mobile users

A malicious cryptocurrency wallet-draining application disguised as the popular WalletConnect protocol managed to evade detection on the Google Play store for five months, stealing over $70,000 from unsuspecting users.

The app, which garnered more than 10,000 downloads, marks the first instance of wallet drainers specifically targeting mobile users.

Check Point Research, an IT security firm, uncovered the scam and detailed its findings in a September 26 blog post.

The researchers found that the fake app used sophisticated evasion techniques to remain undetected on Google’s app store from March 21 until its recent removal.

The malicious application initially appeared on Google Play under the name “Mestox Calculator” and underwent several name changes.

Despite these alterations, its application URL continued to direct users to a seemingly harmless calculator website. This tactic allowed the app to pass Google Play’s review process, as both automated and manual checks would load the innocuous calculator application.

However, the app’s true nature was revealed when users with specific IP addresses accessed it from mobile devices. In these cases, users were redirected to a malicious back-end housing the wallet-draining software known as MS Drainer.

The fake WalletConnect app mimicked the legitimate protocol, which is commonly used to link various cryptocurrency wallets to decentralized finance (DeFi) applications.

Fake review and high rating of the malicious WalletConnect app.

This familiarity likely contributed to users’ trust in the app. When users attempted to connect their wallets – a standard action for the real WalletConnect – they were prompted to accept various permissions to “verify their wallet.”

This action granted the attacker’s address permission to transfer the maximum amount of specified assets.

Check Point Research reported that more than 150 users fell victim to the scam, losing approximately $70,000 in total. However, not all of the app’s 10,000+ downloaders were affected.

Some users either didn’t connect a wallet or recognized the scam, while others may not have met the malware’s specific targeting criteria.

The researchers noted that the app’s high ranking in search results was achieved through fake reviews and consistent branding.

Some of these fabricated reviews even mentioned features unrelated to cryptocurrency, further obscuring the app’s true purpose.

This incident highlights the increasing sophistication of cybercriminal tactics in the cryptocurrency space. Unlike traditional attack vectors that rely on permissions or keylogging, this malicious app utilized smart contracts and deep links to silently drain assets once users were tricked into using it.

The researchers emphasized the need for users to be cautious when downloading applications, even those that appear legitimate.

They also called on app stores to improve their verification processes to prevent such malicious apps from reaching users.

Check Point Research stressed the importance of ongoing education within the crypto community about the risks associated with Web3 technologies.

They pointed out that this case illustrates how even seemingly harmless interactions can lead to significant financial losses.

The discovery of this wallet drainer on Google Play underscores the evolving nature of threats in the cryptocurrency ecosystem.

As mobile users become increasingly targeted, the need for enhanced security measures and user awareness becomes more critical.

Google has not yet responded to requests for comment on the matter. The removal of the malicious app from the Google Play store marks the end of its five-month presence, but serves as a reminder of the ongoing challenges in maintaining security in the rapidly evolving world of cryptocurrency.

The post Google Play Hosts Crypto Wallet Drainer for Five Months, $70,000 Stolen appeared first on Blockonomi.

TLDR

California Governor Gavin Newsom vetoed AI safety bill SB 1047

The bill proposed mandatory safety testing and guardrails for AI models

Newsom argued it could hinder innovation and fail to address real AI threats

Tech firms like OpenAI opposed the bill, while Elon Musk supported it

Newsom called for developing “workable guardrails” focused on science-based analysis

California Governor Gavin Newsom has vetoed a hotly debated artificial intelligence (AI) safety bill, SB 1047, also known as the Safe and Secure Innovation for Frontier Artificial Intelligence Models Act.

The bill, which had sparked significant controversy in the tech industry, proposed mandatory safety testing for AI models and other regulatory measures.

On September 30, Newsom announced his decision to veto the bill, arguing that while it was “well-intentioned,” it could place unnecessary restrictions on emerging AI companies in California.

The governor expressed concerns that the bill focused too heavily on regulating existing top AI firms without adequately protecting the public from what he considers the “real” threats posed by this new technology.

SB 1047, penned by San Francisco Democratic Senator Scott Wiener, would have required AI developers in California, including major players like OpenAI, Meta, and Google, to implement a “kill switch” for their AI models and publish plans for mitigating extreme risks.

The bill also proposed making AI developers liable to be sued by the state attorney general in the event of an ongoing threat from AI models, such as an AI grid takeover.

In his statement, Newsom explained that the bill applied stringent standards even to the most basic functions of AI systems, as long as a large system deployed them.

He stated, “I do not believe this is the best approach to protecting the public from real threats posed by the technology.”

The governor’s decision aligns with the concerns raised by many in the tech industry. Companies like OpenAI and influential figures such as House Speaker Nancy Pelosi argued that the bill would significantly hinder the growth and innovation of AI technologies.

They feared that the proposed regulations could stifle advancements in the field and potentially drive AI development out of California.

However, not all tech leaders opposed the bill. Notably, billionaire Elon Musk, who is developing his own AI model called “Grok,” expressed support for SB 1047 and broader AI regulations.

In a social media post, Musk stated that “California should probably pass the SB 1047 AI safety bill,” though he acknowledged it was a “tough call.”

This is a tough call and will make some people upset, but, all things considered, I think California should probably pass the SB 1047 AI safety bill.

For over 20 years, I have been an advocate for AI regulation, just as we regulate any product/technology that is a potential risk…

— Elon Musk (@elonmusk) August 26, 2024

Despite vetoing SB 1047, Newsom emphasized the need for adequate safety protocols in AI development. He stated that regulators cannot afford to “wait for a major catastrophe to occur before taking action to protect the public.”

To address these concerns, Newsom announced that he had asked leading AI safety experts to help California develop “workable guardrails” focused on creating a “science-based trajectory analysis.”

The governor also revealed that he had ordered state agencies to expand their assessment of risks from potential catastrophic events stemming from AI development.

This approach aims to strike a balance between fostering innovation and ensuring public safety in the rapidly evolving field of artificial intelligence.

Newsom’s administration has been active in addressing AI-related issues, with the governor noting that he has signed over 18 bills concerning AI regulation in the last 30 days.

This indicates a commitment to developing a comprehensive framework for AI governance in California, albeit through a different approach than the one proposed in SB 1047.

The veto of SB 1047 highlights the ongoing challenges in regulating emerging technologies like AI. As the field continues to advance at a rapid pace, policymakers face the difficult task of balancing innovation with safety concerns.

The debate surrounding this bill underscores the complexities involved in creating effective AI policies that protect the public while allowing for technological progress.

The post California Governor Vetoes AI Safety Bill SB 1047 appeared first on Blockonomi.

TLDR

Ethereum staking yields expected to surpass US interest rates by mid-2025

Falling US rates and rising Ethereum transaction fees contribute to this trend

Positive yield spread could make Ethereum staking more attractive to investors

27% of total Ethereum supply now being staked on the network

Institutional investors likely to prefer regulated products for staking exposure

Ethereum, the second-largest cryptocurrency by market capitalization, is drawing attention from investors and analysts alike as its staking yields are projected to exceed US interest rates in the coming year.

This shift could potentially boost Ethereum’s price as investors seek higher returns in a changing economic landscape.

According to recent analysis by crypto trading firm FalconX, two key factors are expected to push Ethereum staking returns above traditional risk-free rates by mid-2025.

First, the Federal Reserve’s recent decision to cut interest rates is likely to continue into next year. Futures markets indicate an 85% chance that the federal funds rate will drop below 3.75% by March 2025, with a 90% probability of further decline to 3.5% by June.

As US rates decrease, yields on traditional assets like Treasury bonds are expected to follow suit.

This narrowing of the yield gap between traditional investments and Ethereum staking could make the latter more appealing to investors. Currently, Ethereum staking yields hover around 3.2%.

The second factor contributing to this trend is the recent uptick in Ethereum transaction fees. Last week, these fees reached their highest levels in nearly two months, although they have since settled to an average of $0.80 per transaction.

While still below previous bull market peaks, this increase reflects growing blockchain activity and contributes to higher staking yields.

David Lawant, head of research at FalconX, noted in an investor report that the crypto market has yet to experience the full potential of attractive staking rates compared to risk-free rates during a robust bull market for Ethereum’s price.

The combination of declining US rates and rising Ethereum yields could turn the spread positive within the next two quarters. This shift would likely increase the appeal of Ethereum staking, as it would offer higher returns than risk-free options.

However, institutional investors may prefer to access staking yields through regulated products, such as exchange-traded funds (ETFs).

Jamie Coutts, chief crypto analyst at Real Vision, told Decrypt that demand for direct exposure among most traditional institutions could develop slowly until the SEC approves such offerings.

In May, the Securities and Exchange Commission approved eight applications for spot Ethereum ETFs. To meet regulatory requirements, several issuers removed references to staking customer Ethereum from their applications. This development highlights the ongoing challenges in bridging traditional finance with the crypto ecosystem.

Since Ethereum’s transition to a proof-of-stake system in September 2022, Ethereum holders have been able to deposit funds with the network to earn rewards.

The latest data from Coinbase shows that 32.6 million ETH, representing over 27% of the total supply, is now being used to secure Ethereum’s proof-of-stake network.

This milestone underscores the growing enthusiasm for Ethereum staking, even as the ecosystem anticipates the potential launch of spot Ethereum ETFs in the US.

However, staking in US ETF products remains elusive, as regulatory hurdles continue to shape the landscape of crypto investment products.

The post Ethereum Staking Yields Projected to Exceed US Rates by 2025 appeared first on Blockonomi.

TLDR

Former Chinese finance minister calls for closer study of crypto

Cites Trump’s campaign remarks as reason for Beijing to pay attention

Acknowledges risks but calls crypto crucial to digital economy

Notes SEC approval of Bitcoin and Ethereum ETFs

Contrasts mainland China’s caution with Hong Kong’s crypto embrace

Zhu Guangyao, China’s former minister of finance, has called on Beijing to pay closer attention to the cryptocurrency markets.

Speaking at a summit hosted by Tsinghua University, Zhu emphasized the need for the Chinese government to study recent international changes and policy adjustments in the crypto space.

The former minister’s remarks come in light of comments made by Republican presidential candidate Donald Trump on the U.S. campaign trail.

At the Bitcoin Conference in Nashville this July, Trump stated that the United States must fully embrace the crypto industry, warning that “China will do it” if America doesn’t take the lead.

Zhu highlighted Trump’s comparison of the crypto industry to the steel industry of a century ago, noting the candidate’s prediction that cryptocurrency might one day overtake gold.

This high-profile endorsement of crypto by a major U.S. political figure seems to have caught the attention of Chinese officials.

While acknowledging the potential of cryptocurrencies, Zhu also stressed the importance of recognizing the risks associated with them.

He stated that crypto “has negative impacts, and we must fully recognize its risks and the harm it poses to capital markets.” However, he balanced this caution by describing cryptocurrency as “a crucial aspect of digital economy development.”

The former finance minister also pointed to recent developments in the United States financial sector as a reason for China to reassess its stance on crypto.

Specifically, he mentioned the Securities and Exchange Commission’s (SEC) approval of bitcoin (BTC) and ether (ETH) exchange-traded funds (ETFs), despite initial opposition from the regulatory body.

This call for a closer examination of cryptocurrencies marks a potential shift in thinking among some Chinese officials. Mainland China has maintained a cautious approach to cryptocurrencies, with strict regulations in place.

However, Hong Kong, which operates under a semi-autonomous system of government and market regulations, has taken a more welcoming stance towards the crypto industry.

Hong Kong has recently listed bitcoin and ether ETFs, signaling a more open approach to cryptocurrency investments. Additionally, some members of Hong Kong’s mini-legislature have actively courted crypto businesses to set up operations in the city.

This divergence in approach between mainland China and Hong Kong highlights the complex landscape of cryptocurrency regulation in the region.

Zhu’s comments suggest that some Chinese officials may be reconsidering the country’s stance on cryptocurrencies in light of global developments.

The former finance minister’s call for further study indicates a recognition that the crypto industry is becoming an increasingly important part of the global financial landscape.

The post Former Chinese Finance Minister Urges Study of Cryptocurrency Markets appeared first on Blockonomi.

TLDR

XRP price rose 1.5% in 24 hours, outperforming the broader crypto market

XRP’s trading volume increased 133% over 7 days to $2.2 billion

XRP market cap reached $35.4 billion, ranking 7th among cryptocurrencies

Technical analysis shows a 4-year symmetrical triangle pattern forming

$1.9 million in XRP futures positions liquidated in 24 hours

XRP, the cryptocurrency associated with Ripple, saw its price increase by 1.5% over the past 24 hours, reaching an intraday high of $0.6328.

This uptick comes as the broader cryptocurrency market experienced a slight decline of 0.3%, bringing the global crypto market capitalization to $2.3 trillion.

The price increase coincides with a significant surge in trading activity for XRP. Over the last seven days, spot trading volumes for XRP topped $2.2 billion on September 28, marking a 133% increase since September 21.

This boost in trading volume suggests growing interest and activity surrounding the digital asset.

XRP’s market capitalization has also seen an uptick, rising to $35.4 billion. This increase has solidified XRP’s position as the seventh-largest cryptocurrency by market cap, highlighting its continued relevance in the crypto ecosystem.

The recent price movement comes after several weeks of sideways price action for XRP. The current upward trend may indicate the beginning of a sustained recovery for the digital asset.

Data from trading platforms shows that XRP has outperformed Bitcoin, the largest cryptocurrency by market cap, over the past 90 days. While Bitcoin has gained 5% during this period, XRP has surged by 31%.

Technical analysts have noted a potentially bullish signal for XRP in the form of a large symmetrical triangle pattern on its monthly chart.

XRP Price on CoinGecko

This pattern, which has been forming over the past four years, suggests the possibility of significant price movement in the near future.

Some analysts speculate that a breakout from this pattern could lead to substantial gains for XRP, with projections ranging from $10 to $20, though such predictions should be viewed with caution.

The increased volatility in XRP’s price has led to notable activity in the futures market. Over the past 24 hours, approximately $1.9 million worth of XRP futures positions were liquidated. Of these liquidations, 73% were long positions, totaling about $1.37 million.

The $XRP breakout of the 4-year triangle will be explosive, to be honest.

Study the triangle price pattern and get back to me. https://t.co/y8LqvdwBz5

— Mikybull Crypto (@MikybullCrypto) September 29, 2024

Despite the recent price increase, futures traders appear cautious about a quick rebound. Current market data shows $16.76 million in short positions at risk if the price reaches $0.65, while a 10% decline to $0.60 would result in the liquidation of $17.75 million in long positions.

It’s important to note that while XRP has shown strong performance recently, the cryptocurrency market remains highly volatile and unpredictable.

Investors should always conduct thorough research and consider their risk tolerance before making investment decisions.

The recent price movement and increased trading activity for XRP come against the backdrop of ongoing legal proceedings between Ripple, the company closely associated with XRP, and the U.S. Securities and Exchange Commission (SEC).

The outcome of this case could have significant implications for XRP and the broader cryptocurrency industry.

The post XRP Price Rises 1.5% as Trading Volume Surges 133% in a Week appeared first on Blockonomi.

The AI gold rush is in full swing as 65% of organizations now report regularly using generative AI in some capacity.

Small problem, no matter how much some want AI to be everywhere or even become your clone, there’s a critical shortage of the very thing needed to keep this AI revolution going: raw computing power. As tech giants hoard GPUs like greedy dragons guarding treasure, countless AI projects are left out in the cold.

IO.net aims to fix this shortfall by offering a decentralized physical infrastructure network (DePIN) which aggregates GPUs from underutilized sources.

By tapping into independent data centers, repurposed crypto mining equipment, and other hardware networks, IO.net is looking to unlock an estimated 200 exaFLOPS of additional GPU capacity, the equivalent of 13 times what’s currently available from major cloud providers. Let’s take a look at what an “Internet of GPUs” looks like.

The current GPU shortage is more severe than most people, both experts and everyday users, realize. Major cloud providers only have about 10-15 exaFLOPS of GPU compute capacity to offer, while potential demand could be as high as 20-25 exaFLOPS.

The need for processing power will only increase over the years, given the increasing popularity of AI, gaming, and other GPU-intensive technologies. This 5-10 exaFLOPS shortfall creates significant challenges for AI and ML projects worldwide, such as long wait times to acquire hardware, lack of choice, and high costs.

The industry’s answer to this problem has been pretty basic so far: Just build more chips!

However, what if the solution isn’t creating more chips, but using the ones we already have more smartly? That’s what blockchain project IO.net is trying to accomplish, implementing an audacious plan that might just save the AI revolution by turning the world’s idle GPUs into the backbone of AI’s future.

What is IO.net

At its core, IO.net is a decentralized network that connects idle GPUs worldwide, creating a massive, distributed supercomputer accessible to machine learning engineers or anyone who requires more GPU capacity. This means instant access to high-powered computing power, not only at a fraction of what big cloud providers charge but also more easily and faster than with traditional providers.

More than a service, however, IO.net is building an ecosystem with computer power at its heart. Their goal? To make advanced AI development possible for anyone, not just tech giants with deep pockets. By tapping into underused resources, IO.net aims to solve the GPU shortage and democratize the future of artificial intelligence in a more sustainable, accessible, and efficient way.

As a result, users also get to enjoy increased control and flexibility over the different resources and features of the network thanks to its modularity and use of decentralized infrastructure. This greatly differentiates IO.net from traditional providers like Amazon Web Services (AWS), Google Cloud, and other alternative cloud computing platforms.

IO.net Products

The IO.net ecosystem is composed of various products and features designed to provide a comprehensive experience without sacrificing flexibility. These features also interact with the IO coin ($IO), creating a self-sustainable and trustless ecosystem that doesn’t require middlemen and operates more efficiently.

IO Cloud

IO Cloud is the platform’s flagship offering, allowing users to deploy and manage on-demand decentralized GPU clusters such as Ray, Mega-Ray, and Kubernetes. Some of its key features include seamless integration with IO SDK for distributed computing, native support for the RAY distributed computing frameworks, global distribution of GPU resources functioning like a CDN for ML serving and inference, and future access to the IO Models Store.

IO Worker

IO Worker is a web application that enables individuals and businesses operating as suppliers to rent out their computing power. It offers them the opportunity for higher earnings compared to traditional cloud services, real-time performance monitoring, secure resource sharing, and global accessibility. In exchange, users of IO Worker are rewarded based on their block rewards, jobs processed, active time, blocks earned, and much more.

IO Explorer

Similar to other blockchain explorers, IO Explorer provides transparency into the network’s operations. This is achieved by offering comprehensive statistics on network activity and real-time metrics on cluster bookings, deployments, and network devices. Some of the information available to users includes total GPUs/CPUs, verified GPUs/CPUs, cluster-ready GPUs/CPUs, supply insights, Geo Distribution, activity trends, etc.

IO ID

IO ID serves as the central hub for tracking earnings and expenses within the network, facilitating easy withdrawal of funds in cryptocurrency. This control panel allows users to interact with all the different IO.net elements, personalize their experience, connect their Solana/Aptos wallet, delete their account, and perform any other changes to their account.

IO Coin ($IO)

IO Coin is the native cryptocurrency of the IOG Network. $IO plays a crucial role in facilitating economic incentives within the ecosystem, balancing the needs of GPU renters/owners, and providing network security through staking mechanisms. Every transaction taking place in the IO ecosystem makes use of the IO token, independently of the currency users are interacting with fiat, USDC, or any other token in the front end.

IO Coin’s tokenomics were developed around having a fixed maximum supply of 800 million coins, hourly rewards to suppliers and their stakers, and the use of an $IO burning mechanism. 500 million of these $IO were distributed when the project launched while the remaining 300 million will be emitted and paid to suppliers as rewards every hour.

Recent Developments

IO.net has recently undergone significant leadership changes to drive its next phase of growth. Tory Green, formerly the COO, has stepped into the role of CEO with an ambitious vision for expansion. This transition marks a pivotal moment as IO.net aims to solidify its position and change the game in the world of cloud computing.

The company has launched a highly anticipated staking program, building on the success of its Ignition Reward Program. This new initiative allows participants to stake their devices in the IO Network, turning their computing power into a source of income. The strong community engagement is evident as over $1 million was staked shortly after the program’s launch.

IO.net has also formed strategic partnerships to enhance its offerings. A notable collaboration is with FLock.io to introduce Proof-of-AI (PoAI), an innovative consensus mechanism designed to ensure integrity and scalability in decentralized AI networks. This mechanism aims to verify genuine contribution of computing resources, deterring simulated participation and ensuring fair compensation for honest contributors.

The project’s potential has not gone unnoticed by investors so far. IO Research, the parent company behind io.net, recently raised $30 million in a Series A funding round. This significant investment was backed by web3 powerhouses like Hack VC, Solana Labs, and OKX, ensuring the future plans of the project can be implemented.

Conclusion

IO.net is a bold step forward in the world of decentralized GPU computing for AI and machine learning applications, offering a real alternative in a seemingly saturated market.

By addressing the critical issues of availability, choice, and cost that plague traditional cloud providers, IO.net could soon become a key player in the development and growth of the AI ecosystem.

The platform’s innovative approach to aggregating underutilized GPU resources, combined with its robust feature set and thoughtful tokenomic model, offers a compelling solution to the current GPU shortage.

As AI and ML continue to drive technological advancement across industries, the demand for accessible, scalable, and cost-effective computing power will only grow.

The post Meet IO.net: Unleashing the Internet of GPUs to Fuel the AI Revolution appeared first on Blockonomi.

TLDR

Ethereum transaction fees hit $45 million, highest since June 2024

Vitalik Buterin sold 1,300 ETH worth $3.35 million in past 12 days

ETH price faced resistance at $2,700, currently trading around $2,630

Ethereum ETFs saw $79 million in outflows on September 23

Buterin introduced new “Ethereum alignment” framework to reduce centralization

Ethereum, the second-largest cryptocurrency by market capitalization, is experiencing a surge in network activity as weekly transaction fees reached $45 million, the highest level since June 10, 2024.

This increase in fees suggests growing participation and usage of the Ethereum network, potentially signaling future price growth. However, the cryptocurrency market is presenting mixed signals, with Ethereum facing both positive and negative indicators.

On-chain data reveals that Ethereum co-founder Vitalik Buterin has been selling portions of his ETH holdings. Over the past 12 days, Buterin transferred approximately 1,300 ETH, valued at $3.35 million, to the cryptocurrency exchange Paxos.

The most recent transaction involved 649 ETH, worth $1.72 million, deposited within the last 24 hours. These sales occurred as Ethereum’s price showed strength, with Buterin capitalizing on the recent price recovery.

Despite Buterin’s sales, other market participants have been taking advantage of price dips. A notable Ethereum whale purchased 10,083 ETH, worth $26.8 million, demonstrating confidence in the asset’s future potential.

This smart trader with a 100% win rate in swing trading $ETH bought 10,083 $ETH($26.8M) again 8 hours ago!

Since August 12, he has traded $ETH 10 times, making money every time, with a total profit of ~$2.14M!https://t.co/a80xVafIlu pic.twitter.com/BY8aXlSHir

— Lookonchain (@lookonchain) September 30, 2024

This trader has a track record of successful ETH swing trades, having generated $2.14 billion in profits since August 12.

The Ethereum price recently faced resistance at the $2,700 level, experiencing a 2% correction in the last 24 hours. As of the latest data, ETH is trading at approximately $2,630, with a market capitalization of $316 billion.

The price movement comes amid broader market volatility, with investors bracing for potential fluctuations ahead of the release of US jobs data.

While network activity and transaction fees are on the rise, Ethereum ETFs have experienced significant outflows. On September 23 alone, these investment vehicles saw $79 million in withdrawals, marking the highest outflows since July.

This divergence between on-chain activity and institutional investment flows highlights the complex and sometimes contradictory nature of the cryptocurrency market.

Ethereum Price on CoinGecko

In recent developments, Vitalik Buterin introduced a new “Ethereum alignment” framework aimed at enhancing the ecosystem.

This initiative focuses on balancing decentralization with ecosystem growth, reducing centralization, and supporting projects that contribute to public goods.

The framework seeks to unite researchers, client teams, and developers in building a more cohesive and decentralized Ethereum network.

Analysts are divided on Ethereum’s short-term price prospects. Some technical analysts have made bullish predictions, suggesting that Ethereum could potentially reach $10,000 by the end of the year based on fractal patterns and Fibonacci analysis.

These forecasts should be approached with caution, as the cryptocurrency market is known for its volatility and unpredictability.

The recent surge in network activity and transaction fees is generally seen as a positive indicator for Ethereum’s growth and adoption.

However, the mixed signals from ETF outflows and price resistance at key levels suggest that the market remains uncertain about Ethereum’s immediate future.

The post Vitalik Buterin Sells 1,300 ETH Amid Ethereum Price Fluctuations appeared first on Blockonomi.

Bitcoin Whale predicts a 2,200% bull rally for the new Ethereum alternative Rexas Finance (RXS). Moreover, Bitcoin whales are crypto investors who invest in huge amounts of Bitcoin.  Now Bitcoin Whales has predicted that the new Ethereum alternative project will hit new heights entering the top 10 by early 2025.

Bitcoin Whale Forecasts 2,200% Bull Move for Rexas Finance

Bitcoin Whale has made a bold analysis for predicting a massive 2,200% bull rally for Rexas Finance (RXS).  As per Bitcoin Whale, Rexas Finance (RXS) will reach new heights in the upcoming days. Moreover, the ongoing presale has currently raised over $1.45 million, Rexas Finance is hugely gaining traction for crypto users. In addition, the project’s huge range of offerings including its fantastic features. Moreover, this solidifies its potential to outperform competitors in the crypto world.

Ethereum Alternative Rexas Finance Will Reach Crypto’s Top 10

Ethereum alternative Rexas Finance (RXS) will soon reach crypto’s top 10 by early 2025. Moreover, this is possible because the project provides fantastic features for crypto users across the globe. Let us look into a few features of Rexas Finance (RXS).

Rexas Token Builder: Crypto users can easily tokenize their real-world assets with Rexas Token Builder. Through simplifying the process, it neglects the need for blockchain coding, enabling crypto users to launch tokens in a few minutes.

Rexas Launchpad: Crypto enthusiasts can start the token funding through Rexas Launchpad. This decentralized platform enables crypto users a secure and transparent environment for token sales across multiple blockchain networks.

Rexas GenAI: Users can now unlock the potential of AI with Rexas GenAI to enable one-of-a-kind digital artworks. This is more perfect for artists and creators entering the NFT space.

Rexas DeFi: Rexas DeFi offers a robust decentralized platform for cryptocurrency trading, enabling seamless crypto swaps across many blockchain networks.

Rexas Estate: Users can invest in real estate through Rexas Finance and co-own properties, earning passive income in stablecoins by holding real-world assets.

Rexas Treasury: A multi-chain yield optimizer that enables crypto users to earn compound interest on their crypto deposits, maximizing their returns.

Additionally, the RXS token presale began on September 8, 2024, with a total supply of 1B tokens. Rexas Finance has already raised over $1.45 million, and 60% of the third presale stage has been sold out. Furthermore, in case Bitcoin Whale’s prediction is accurate, this new ETH alternative will surge, potentially reaching top 10 cryptos by early 2025. All in all, the crypto investors much approach this analysis with caution, as market unforeseen developments might hugely influenced the Rexas Finance’s long-term growth.

About Rexas Finance (RXS)

Rexas Finance is the users’ gateway to the future of asset management. Rexas allows users to own or tokenize virtually any real-world asset, from real estate and art to commodities and intellectual property worldwide. With Rexas, users gain access to a world where asset liquidity and investment choices are boundless.

For more information about Rexas Finance (RXS) visit the links below:

Website: https://rexas.com

Win $1 Million Giveaway: https://bit.ly/Rexas1M

Whitepaper: https://rexas.com/rexas-whitepaper.pdf

Twitter/X: https://x.com/rexasfinance

Telegram: https://t.me/rexasfinance

The post Bitcoin Whale Forecasts 2,200% Bull Move for New Ethereum Alternative, Predicts It Will Enter Crypto’s Top 10 by Early 2025 appeared first on Blockonomi.

TLDR

Solana whales now control 59% of circulating supply

SOL price approaching key resistance level

Social volume declining despite whale activity

Analysts predict potential price range of $125-$207 for SOL in 2024

Long-term outlook remains bullish with $250+ price targets by 2025

Solana’s cryptocurrency SOL is seeing increased accumulation by large holders, known as “whales,” as its price approaches a critical resistance level.

Data from blockchain analytics firm Santiment shows that whales now control 59% of Solana’s circulating supply, with large holders possessing over $5 million in SOL driving recent market activity.

This surge in whale holdings comes as SOL’s price nears an important technical resistance point.

Analysts are watching closely to see if increased buying pressure from major players will be enough to push SOL beyond this barrier. A breakthrough could potentially trigger a broader market rally for the asset.

Social media activity around Solana has been declining since a spike in mid-September, suggesting retail investors may be taking a more cautious approach despite the bullish moves by whales.

This divergence between whale accumulation and social sentiment presents a mixed outlook for SOL in the near-term.

Price predictions for Solana in 2024 vary, with estimates ranging from $125 on the low end to over $200 on the high end.

The most optimistic projections see SOL potentially reaching $207 next year if positive momentum continues. However, more conservative estimates place SOL’s 2024 price floor around $125 in bearish scenarios.

Solana Price on CoinGecko

Looking further ahead, some analysts see SOL potentially hitting $250 by 2025 if long-term bullish trends persist. The previous all-time high for SOL was $259.96, reached in November 2021 during the last crypto bull market cycle.

In terms of recent price action, SOL is currently trading around $156, up about 4% over the past week. The total circulating supply of Solana tokens is approximately 468.8 million, with a market capitalization of $73.6 billion.

Market participants are closely monitoring whale wallet activity as a potential leading indicator for SOL’s next major move.

Large holders have historically had significant influence over Solana’s price trends. However, declining social media buzz suggests retail interest may be waning in the short-term.

Solana’s blockchain network has seen fluctuating adoption and activity levels in recent months.

A decline in memecoin hype on Solana contributed to some investor pessimism earlier this year. However, the approval of Solana ETFs in Brazil provided a boost to sentiment.

Technical analysts have identified the $122 to $187 range as an important zone to watch for SOL. A break below $122 support could see the price drop further to around $110.

Conversely, a rally past $187 resistance may open the door to retesting previous highs.

The post SOL Price Predictions Range from $125 to $207 for 2024 appeared first on Blockonomi.

Shiba Inu (SHIB), previously lauded as a potential meme currency, is facing growing criticism for its poor performance in the crypto market. Many commentators now refer to it as “just a shitcoin,” citing its diminishing returns and the waning enthusiasm that fueled its initial success. As SHIB suffers, the focus has switched to more attractive alternatives with tremendous growth potential. These include Rexas Finance, Dogecoin, and Floki Inu, all of which experts feel has the potential to yield significant rewards. With judicious investments, these coins may transform a small $500 investment into an astounding $50,000 in just six months.

Rexas Finance (RXS)

A $500 investment in Rexas Finance (RXS) at its current price of $0.05 per token offers the potential for remarkable returns, reaching $50,000 in less than 6 months from now, thanks to its groundbreaking role in tokenizing real-world assets (RWA). Rexas Finance distinguishes itself by seamlessly integrating physical assets like real estate with blockchain technology, opening up new opportunities in a traditionally underexplored market. As the project advances through the third presale stage, it has been noticed that the price of the token can be regarded as cheap and with great growth potential since over 1.4 million tokens of the platform have been sold. Considering the investments in the overview of Rexas Finance, it is safe to say that the price will increase promptly, by as much as 900%, growing from $0.05 to $0.50. A remarkable characteristic of Rexas in comparison to other projects is its emphasis on real-world applications of blockchain technology aimed at retail and institutional investors alike. With plans to launch a decentralized exchange and enhance its smart contract capabilities, Rexas Finance is poised to become a dominant player in the tokenization sector. In this regard, the combination of complementary pretend tax credits focused on the monetary value of asset mitigation is what makes RXS an ideal investment as it could turn one’s small investment in six months into big returns.

Dogecoin (DOGE)

Dogecoin (DOGE), the leading meme coin by market cap, is positioning itself for a significant rebound after stabilizing above the crucial $0.091 support level. Despite experiencing a prevailing downtrend, the past 11 weeks have seen DOGE making three failed attempts to break below this support, signaling the potential for a trend reversal. As this consolidation period unfolds, it presents an ideal accumulation zone for investors eyeing future profits. Notably, Santiment data reveals an uptick in whale activity, with wallets holding between 1 million and 10 million DOGE amassing a staggering 10.78 billion coins. This surge in whale accumulation suggests growing confidence in Dogecoin’s ability to recover and surge in value. With the right market conditions and continued support from these large holders, a $500 investment today could potentially turn into a remarkable $50,000 within six months, as Dogecoin reclaims its bullish momentum and redefines its place in the crypto market.

Floki Inu (FLOKI)

Floki Inu (FLOKI) has emerged as a formidable Shiba Inu rival, showing promising signs of delivering exponential returns to investors. With its price forming higher lows on daily charts, FLOKI has already experienced a reversal trend, surging from $0.0001 to $0.00013, driven by active demand pressure. The current market cap of $1.27 billion further underscores its strong position in the meme coin space. What makes FLOKI particularly attractive to investors is the growing confidence of major holders.Thus, given the appetite and the market, it seems plausible to expect that with an investment of $500 today, for example, someone may end up with about $50,000 in 6 months which is very appealing for anyone ready to take the chance with this trending meme coin.

Conclusion

While Shiba Inu’s disappointing performance has made many say that Shiba Inu is “just a shitcoin,” the other players in the meme coin and tokenization space are quickly picking up speed. Rexas Finance, Dogecoin, and Floki Inu each present unique opportunities for investors seeking high returns within a short time frame. Rexas Finance’s innovative real-world asset tokenization, Dogecoin’s resilient support from whale investors, and Floki Inu’s strong market momentum make them viable alternatives for exponential gains. With careful timing and market conditions in their favor, these coins could potentially turn a $500 investment into an extraordinary $50,000 in just six months, making them exciting prospects for those ready to capitalize on their growth potential

For more information about Rexas Finance (RXS) visit the links below:

Website: https://rexas.com

Win $1 Million Giveaway: https://bit.ly/Rexas1M

Whitepaper: https://rexas.com/rexas-whitepaper.pdf

Twitter/X: https://x.com/rexasfinance

Telegram: https://t.me/rexasfinance

The post “Just a Shitcoin,” Analyst Criticizes Shiba Inu’s Disappointing Run, Names 3 Best SHIB Rivals to Turn $500 into $50,000 in Just 6 Months appeared first on Blockonomi.

TLDR

Bitcoin’s price expected to benefit from US presidential election regardless of outcome

Historical data shows strong Q4 performance for Bitcoin, especially in halving years

Failure of both parties to address US debt and deficit issues seen as bullish for Bitcoin

Federal Reserve’s potential interest rate cut could be positive for Bitcoin and risk-on assets

Bitcoin’s “digital gold” narrative may attract more institutional capital amid market volatility

The upcoming United States presidential election and other economic factors are setting the stage for a potential Bitcoin rally in the fourth quarter of 2024, according to industry experts.

CK Zheng, chief investment officer of crypto hedge fund ZX Squared Capital, believes that Bitcoin’s price will benefit regardless of the election outcome.

Historically, Bitcoin has shown strong performance in the fourth quarter, with data from CoinGlass revealing that the cryptocurrency has rallied more than 50% six times since 2013.

This trend has been particularly pronounced in years when Bitcoin halving events occur, such as in 2020 when Bitcoin surged 168% in Q4.

The failure of both major US political parties to adequately address the country’s growing debt and deficit problems is seen as a bullish factor for Bitcoin. Zheng explains,

“As both Republican and Democratic parties do not appropriately address the ever-increasing US debts and deficits during this election, this will be very bullish for Bitcoin especially post the US election.”

Another potential catalyst for Bitcoin’s growth is the Federal Reserve’s monetary policy. Zheng suggests that an “aggressive” 50 basis point interest rate cut could be positive for Bitcoin and other risk-on assets if the US economy achieves a “soft landing.”

This refers to the central bank’s ability to control inflation without causing a significant economic downturn.

The best #Bitcoin performance after the halving always comes in Q4… pic.twitter.com/sLEdNqHcfj

— Crypto Rover (@rovercrc) September 28, 2024

The growing narrative of Bitcoin as “digital gold” and a hedge against macroeconomic instability is expected to attract more institutional capital.

Leo Fan, founder of Cysic, a zero-knowledge proof generation and verification layer 1, notes, “Liquidity is slowly being reintroduced into the market, which may set the stage for stronger price movements in the months ahead.”

However, some experts caution that price movements should not be the sole focus. Samantha Yap, CEO and founder of Web3 PR firm YAP, emphasizes the importance of retail interest and media attention that often follows Bitcoin rallies.

She states, “The hope for the crypto and Web3 space during these moments is that there are more usable and accessible applications ready for newcomers to adopt.”

The impact of the upcoming Bitcoin halving event in April 2024 is also expected to play a role in the cryptocurrency’s performance.

Halving events, which reduce the rate at which new bitcoins are created, have historically been associated with price increases.

Zheng anticipates that Bitcoin could reach a new all-time high in Q4 or soon after. However, he also notes that if the Federal Reserve achieves a soft landing, Bitcoin’s price may be highly correlated with the NASDAQ index.

As of the latest data, Bitcoin is trading at $64,400, experiencing a 2% decrease over the past 24 hours. Despite this short-term fluctuation, many industry observers remain optimistic about Bitcoin’s prospects in the coming months.

The post Bitcoin’s Q4 Outlook: Election Impact and Economic Factors appeared first on Blockonomi.