Think you can predict the BTC market? Put your intuition to the test and grab your share of the $5,000 USDC reward pool! Join our daily “Bullish vs Bearish” voting campaign and connect with the crypto community by sharing your market sentiment.
Campaign Period: 2024-08-08 00:00 to 2024-08-14 23:59 (UTC)

How To Participate:
Vote on $BTC Direction and Share Insights:
Option 1: Visit the BTC trading page and vote whether the day will be bullish or bearish. Share your insights and reasoning behind your vote in an accompanying post.

Option 2: Create a post through the “+” posting button on Binance Square, adding the $BTC cointag, and vote bullish or bearish in the content editor.

Winning Criteria:
Bullish Votes Win: If the BTC price at the end of the day (daily close price) is higher than the price at the beginning of the day (open price).Bearish Votes Win: If the BTC price at the end of the day (daily close price) is lower than the price at the beginning of the day (open price).
Eligibility: 
Only the first prediction per day will be considered if a user makes more than one prediction.Voting and posts made between 21:00-24:00 UTC will not be counted as eligible entries.

Reward Structure:
Daily Challenge
Participate in our daily task! Users who post and vote in the correct direction will be eligible to share a $500 USDC prize pool each day. Join every day and predict correctly to win!
*Individual cap: $2 USDC per participant per day.
Extra Rewards: Make correct predictions for several days and earn additional rewards!

Terms & Conditions
This Activity may not be available in your region. Eligible users must be logged in to their verified Binance accounts whilst completing tasks during the Activity Period in order for the votes to count. Each day runs from 00:00 (UTC) to 23:59 (UTC). Rewards will be distributed in the form of token vouchers to eligible users within 21 working days after the Activity ends. Users will be able to log in and redeem their voucher rewards via Profile > Rewards Hub. Illegally bulk registered accounts or sub-accounts shall not be eligible to participate or receive any rewards. Binance reserves the right to cancel a user’s eligibility in this activity if the account is involved in any behavior that breaches the Binance Square Community Management Guidelines or Binance Square Community Platform Terms and Conditions.Binance reserves the right at any time in its sole and absolute discretion to determine and/or amend or vary these terms and conditions without prior notice, including but not limited to canceling, extending, terminating or suspending this activity, the eligibility terms and criteria, the selection and number of winners, and the timing of any act to be done, and all participants shall be bound by these amendments.Binance reserves the right to disqualify any participants who tamper with Binance program code, or interfere with the operation of Binance program code with other software.Binance reserves the right of final interpretation of this Activity.Additional promotion terms and conditions can be accessed here.There may be discrepancies in the translated version of this original article in English. Please reference this original version for the latest or most accurate information where any discrepancies may arise.

The year 2023 was a significant one for the cryptocurrency industry, witnessing tremendous growth as the total market capitalization of all tokens more than doubled from $850 billion to over $1.7 trillion. While cryptocurrencies like Bitcoin (BTC) experienced substantial gains, not all tokens followed suit.  Shiba Inu (SHIB), a meme token that garnered attention in 2021, saw a comparatively modest 30% return in 2023. With SHIB still 88% below its all-time high, investors wonder if 2024 holds the potential for it to reach $1. However, the reality might be far from expectations.

The Enormous Supply Challenge

One of the primary obstacles standing in the way of Shiba Inu’s historic rise is its enormous supply. Currently, there are more than 589.3 trillion SHIB tokens in circulation, with each token priced at $0.0000107. This gives Shiba Inu a market capitalization of $6.3 billion. To put it into perspective, if SHIB were to reach $1 per token, its market cap would need to soar to an astronomical $589.3 trillion.For context, the total wealth of every person on Earth was estimated to be $454 trillion at the end of 2022, according to Credit Suisse. In other words, for SHIB to reach $1, its market cap would need to surpass the combined wealth of the entire global population.

Community Efforts to Burn Tokens

To address the challenge posed by its immense supply, the Shiba Inu community has been actively working to reduce the token supply through a process known as “burning.” This involves permanently removing tokens from circulation, making them inaccessible for future use. Token holders can contribute to this effort by sending tokens to a “dead wallet” or participating in various initiatives like streaming a specific music playlist or using the Shiba Search internet search engine. The proceeds from these activities are then directed towards reducing the token supply.

Can Enough Tokens Be Burned in 2024?

The community faces a daunting task if SHIB is to reach $1 in 2024 based on its current market cap. To achieve this, approximately 99.99998% of all SHIB tokens would need to be burned, leaving just 6.3 billion tokens in circulation.Over the past 30 days, the community has burned approximately 34.2 billion tokens. While this is a significant effort, it falls far short of the amount needed to reach the $1 target this year. At the current pace, it would take over 1,437 years to burn all the necessary tokens. In other words, SHIB reaching $1 is a distant dream, projected to materialise in the year 3461.

The Myth of Gaining Wealth Through Burning

Even if one were to live long enough to witness this unlikely scenario, there’s another important point to consider. Burning tokens does not increase the value of Shiba Inu; it simply reduces the supply and, in turn, increases the token’s price by an equivalent amount. In the year 3461, you would have 99.99998% fewer tokens, but they would be worth $1 each, meaning your net position in dollars would remain unchanged.While the idea of SHIB reaching $1 is improbable, there are alternative tokens in the cryptocurrency market with promising potential for significant gains. One such token is Retik Finance (RETIK), which experts predict could experience substantial growth when it launches in Q3 2024.

A More Realistic Alternative: Retik Finance (RETIK)

Retik Finance: Bridging the Gap

Retik Finance aims to revolutionise the global financial landscape through innovative DeFi solutions. With a vision to decentralise the banking sector, Retik Finance offers a comprehensive ecosystem designed to empower individuals and businesses worldwide. Key components of this ecosystem include the Retik Wallet, DeFi Debit Cards, and Retik Pay, providing a seamless fusion of digital and traditional finance. The $RETIK token serves as the backbone of the ecosystem, promoting financial autonomy, governance, and user engagement.By embracing decentralised technologies, Retik Finance addresses the limitations of traditional banking systems, offering enhanced security, accessibility, and privacy while facilitating cross-border transactions. This abstract highlights Retik Finance’s pivotal role in reshaping the future of global finance, fostering a more inclusive, transparent, and efficient financial landscape for the years ahead.

Conclusion

While Shiba Inu’s quest to reach $1 in 2024 appears implausible due to its massive supply and the slow pace of token burning, the cryptocurrency market continues to offer opportunities for investors seeking substantial gains. Tokens like Retik Finance (RETIK) hold promise, with experts predicting significant growth upon its launch in Q3 2024. As cryptocurrencies reshape the financial landscape, innovative projects like Retik Finance are poised to play a pivotal role in creating a more accessible, transparent, and equitable global economy, bridging the divide between traditional and digital finance. Investors should keep an eye on such projects as they navigate the ever-evolving cryptocurrency market.

Click Here To Take Part In Retik Finance Presale

Visit the links below for more information about Retik Finance (RETIK):

Website: https://retik.com

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

Linktree: https://linktr.ee/retikfinance

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

Binance crypto exchange has announced plans to support another new altcoin, AltLayer (ALT), via its Launchpool platform.

Binance Launchpool platform, which lets users stake coins to farm new assets, stated that its 45th project will be AltLayer (ALT), an open and decentralized protocol for Ethereum (ETH) rollups.

See Also: Binance vs. SEC Case Is Tomorrow: Here Is What To Know

Rollups are solutions that execute transactions outside of Ethereum’s blockchain but record the transactional data. 

They’re designed to help with scaling by reducing transaction costs and congestion on the main Ethereum chain.

Between January 19th and the 25th, Binance users can stake BNB as well as the stablecoin First Digital USD (FDUSD) into separate pools to farm ALT tokens. Binance plans to list ALT on January 25th.

Binance says it will attach a seed tag to ALT, which the exchange applies to lower-liquidity projects that may exhibit higher volatility compared to other listed tokens. 

Binance requires users who own assets with seed tags to pass quizzes every 90 days to ensure they’re aware of the risks before trading the tokens.

See Also: Binance Experiences Growth, Recorded Over $4 Billion Inflow After US Fine Settlement

AltLayer aims to make it easier for developers to design custom rollups. According to the project, 

“With AltLayer, we bring together a novel idea of Restaked Rollups which takes existing rollups (spun from any rollup stack such as OP Stack, Arbitrum Orbit, ZKStack, Polygon CDK, etc.) and provides them with enhanced security, decentralization, interoperability, and crypto-economic fast finality. Restaked rollups combine the ease of spinning up rollups using rollup stacks and others with the power of EigenLayer’s restaking mechanism to bootstrap network security and build a decentralized network.”

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.

The post Binance To Roll Out Support For AltLayer (ALT) On Launchpool Platform appeared first on BitcoinWorld.

In a groundbreaking move, Binance, the global leader in cryptocurrency exchange, has revealed its 44th project on Binance Launchpool—Manta (MANTA), an avant-garde modular Layer 2 (L2) solution crafted specifically for ZK applications. The highly anticipated official webpage for MANTA is poised to illuminate screens in just 5 hours, heralding the imminent launch of this revolutionary project.

Staking Opportunities for Early Adopters
Starting from January 16, 2024, at 00:00 (UTC), crypto enthusiasts can seize a unique opportunity to stake their BNB and FDUSD in dedicated pools and delve into the exciting world of MANTA token farming.
Listing Date and Trading Extravaganza
Following the conclusion of the farming period, MANTA is set to make its grand entrance into the crypto market on January 18, 2024, at 10:00 (UTC). The trading pairs will include MANTA/BTC, MANTA/USDT, MANTA/BNB, MANTA/FDUSD, and MANTA/TRY, with the exclusive Seed Tag reserved for MANTA.
For users who have previously received MA tokens on the platform, an automatic eligibility awaits them, translating into MANTA tokens at a generous 1:1 ratio.
MANTA Launchpool Unveiled: Key Highlights
- Token Name: Manta (MANTA)
- Maximum Token Supply: 1,000,000,000 MANTA
- Launchpool Token Rewards: 30,000,000 MANTA (3% of the maximum supply)
- Initial Circulating Supply: 251,000,000 MANTA (25.1% of the maximum supply)
Staking Reinvented with KYC Verification
To partake in this transformative journey, users are required to undergo KYC verification. The hourly hard cap for users is thoughtfully set at 50,000 MANTA in the BNB pool and 12,500 MANTA in the FDUSD pool, ensuring fair participation.
Support Pools and Lucrative Rewards Await
Discover the allure of staking through two robust pools:
- Stake BNB (webpage launching in 5 hours): Unleash the potential with 24,000,000 MANTA in rewards (80%).
- Stake FDUSD (webpage launching in 5 hours): Dive into another realm with 6,000,000 MANTA in rewards (20%).
Farming Schedule: Mark Your Calendars
From January 16, 2024, at 00:00 (UTC) to January 17, 2024, at 23:59 (UTC), the farming extravaganza awaits. Daily rewards for the BNB and FDUSD pools are set at an enticing 12,000,000 MANTA and 3,000,000 MANTA, respectively.
The introduction of MANTA on Binance Launchpool signifies a monumental leap in decentralized finance and the embrace of cutting-edge Layer 2 solutions. The official launch and subsequent listing of MANTA on Binance promise to be moments that will shape the future of cryptocurrency. Stay tuned for the unfolding of this extraordinary chapter in the crypto saga.

#TrendingTopic #MANTA #Launchpool