It’s the age-old debate: dogs or cats? But in the crypto world, it’s taken on a whole new meaning. Both felines and canines have staked their claim in the digital finance space, with animal-themed memecoins riding waves of popularity and volatility. But who’s winning the crypto battle—cats or dogs?

The Rise of Memecoins

The memecoin phenomenon is baffling, to say the least. It all started with Dogecoin (DOGE)—the pioneer of animal-themed cryptocurrencies. Initially created as a joke, DOGE caught fire because it symbolized the fun and speculative nature of the crypto world. It was cheap, accessible, and, most importantly, funny. Fast-forward a few years, and now there’s an entire zoo of memecoins.

Why Animals? Why Memes?

In a way, memecoins make crypto approachable. Cryptocurrencies like Bitcoin or Ethereum can feel intimidating for the average person. Memecoins, on the other hand, invite you in with humor and low stakes. They’re simple and playful—who doesn’t love a funny dog or cat? But underneath the surface, these tokens represent an entry point into the otherwise complex world of decentralized finance (DeFi).

Dogs Vs. Cats

Dogs dominate with 91.4% of the total memecoin market, amounting to $31.1 billion.

Cats hold a smaller but notable share of 8.6%, with a market cap of $2.9 billion.

Though the gap between dog and cat-themed memecoins is still wide, the cat coins are steadily gaining ground in the crypto ecosystem. The competition is becoming more balanced as both categories grow in popularity

Solana-Based POPCAT: The First Feline Challenger

Let’s start with the cats. One of the hottest feline tokens is POPCAT, built on the Solana blockchain. Solana is known for its superfast transaction times and low fees, making it the perfect environment for memecoins like POPCAT. The concept behind POPCAT is simple—what if your favorite viral internet cat could become a cryptocurrency?

How Big Is POPCAT?

In the past few weeks, POPCAT has exploded in popularity, seeing a 50% price increase in just a month. It’s still small compared to the dog coins, but its growth rate is undeniable. At its peak, POPCAT hit a market cap of $100 million, which for a meme token, is impressive. The question is, can POPCAT catch up to its canine competitors?

MOG: The Ethereum-Based Cat in a Dog’s World

On Ethereum, you have MOG, another cat-themed memecoin that’s quickly gaining traction. Unlike Solana, Ethereum is a heavyweight blockchain, and gas fees can be high. However, Ethereum’s massive developer ecosystem means that MOG can potentially integrate with countless DeFi applications and NFTs.

What’s Special About MOG?

MOG positions itself as more than just a meme. It’s part of a larger vision to bridge the gap between NFTs and DeFi, giving users both entertainment and utility. It’s a memecoin that aims to do more than just be funny—it wants to be a serious player. With a 35% growth in user base over the past month, it’s a force to reckon with in the cat category.

Simon’s Cat: BNB Chain’s Feline Face

Simon’s Cat (CAT) is the BNB Chain’s response to the dog-dominated memecoin space. As Binance Smart Chain (BNB Chain) continues to grow in popularity thanks to its low fees and high-speed transactions, CAT is positioned to ride that wave. Inspired by the famous YouTube series, Simon’s Cat combines internet culture and crypto in a way that’s irresistibly shareable.

The Numbers Behind Simon’s Cat

While Simon’s Cat hasn’t quite reached the heights of DOGE or SHIB, it boasts an active community of over 200,000 followers on social media, which is crucial for memecoin growth. The token has a current market cap of $80 million and is expected to see steady growth as BNB Chain solidifies its place in the crypto ecosystem.

The Top Dogs: Dogecoin and Shiba Inu

No conversation about animal-themed memecoins would be complete without mentioning the titans: Dogecoin (DOGE) and Shiba Inu (SHIB). DOGE started it all, and SHIB came along to capitalize on the dog-themed craze.

Dogecoin: The Pioneer

Launched in 2013, Dogecoin became the poster child for memecoins. It has seen wild swings in value, driven by internet culture and the endorsements of figures like Elon Musk, who once tweeted:

“Dogecoin might be my fav cryptocurrency. It’s pretty cool.”

That single tweet sent DOGE skyrocketing by more than 500% in just a week. Currently, DOGE has a market cap of $9.2 billion, and while it’s not as hyped as before, it remains a favorite among retail investors.

Shiba Inu: The Challenger

SHIB was born out of the Dogecoin phenomenon, but quickly distinguished itself. Built on Ethereum, Shiba Inu has focused on creating an entire ecosystem that includes decentralized exchanges (ShibaSwap) and NFTs, giving it a utility edge over Dogecoin. With a market cap of $4.5 billion, SHIB is proof that the dog-themed crypto craze isn’t going anywhere.

VS : Who’s Winning?

Main coins market Cap Showdown:

DOGE: $9.2 billion

SHIB: $4.5 billion

POPCAT: $100 million

Simon’s Cat: $80 million

MOG: Still small, but growing.

Clearly, dogs are leading the charge, but the cats are catching up—especially as more people look for the next big thing in the memecoin space.

User Communities:

The strength of memecoins often lies in their communities. While DOGE and SHIB have millions of followers and a celebrity-studded fan base, the cat-themed coins are cultivating their own dedicated communities. Simon’s Cat, for example, has 200,000+ followers, and POPCAT’s rapid growth shows it’s not just a passing trend.

Conclusion: Who Will Win Crypto’s Heart?

The competition between dog and cat memecoins might seem like a lighthearted contest, but it’s also a reflection of where decentralized finance (DeFi) is headed. As blockchain becomes more mainstream, the distinction between joke coins and serious assets begins to blur. While Dogecoin and Shiba Inu are currently leading the pack, cat coins like POPCAT, MOG, and Simon’s Cat are proving that they’re no joke.

Ultimately, the winner will likely be decided by which coin can not only generate hype but also integrate real-world utility. And who knows—maybe the next bull run will finally crown a feline champion.

Who do you think will win crypto’s heart?

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BingX loses $43 million in a significant security breach.

Hackers target hot wallets, converting assets to Ethereum and BNB.

BingX promises full user compensation from its own capital reserves.

The hack is part of a trend of increasing attacks on crypto platforms this week.

The Incident Unveiled

BingX, a Singapore-based cryptocurrency exchange known for its global user base exceeding 10 million, fell victim to a sophisticated cyberattack. Hackers managed to drain approximately $43 million in various cryptocurrencies from the exchange’s hot wallets. This incident adds to a troubling week in the crypto world where multiple platforms faced similar vulnerabilities.

How Did It Happen?

The breach occurred in two main waves.

Initial Hack: Hackers first extracted around $26 million worth of assets.

Subsequent Theft: A few hours later, an additional $16.5 million was stolen.

The attackers were swift, transferring the stolen funds through decentralized exchanges like Uniswap and Kyberswap, primarily converting them into Ethereum (ETH) and BNB. This strategy suggests an attempt to launder the assets, making them harder to trace.

BingX’s Response

Vivien Lin, BingX’s Chief Product Officer, took to X to address the situation, labeling the loss as “minor” and assuring that all affected users would be fully compensated. BingX immediately suspended withdrawals to contain the situation and moved remaining assets to cold wallets, which are not connected to the internet and thus less vulnerable to hacks.

This morning, BingX just experienced hacker attack. In this incident, BingX's technical emergency response capabilities were fully demonstrated. While the attack did not affect our platform’s operations and the loss is within our capital reserves, it highlights ongoing security… https://t.co/h7fviIiDUb

— Vivien Lin @ BingX (@Vivien_BingX) September 20, 2024

Implications for Crypto Security

This hack underscores several critical points.

Despite their convenience for immediate transactions, hot wallets remain a security risk compared to cold storage solutions.

This event is not isolated but part of a pattern observed this week, reflecting either a coordinated effort by hackers or a widespread vulnerability in current exchange security protocols.

Market and User Reaction

While BingX’s prompt assurance of compensation might mitigate some immediate panic, the long-term trust in the platform’s security measures could wane unless substantial security enhancements are implemented.

Such events often lead to temporary dips in market confidence, affecting trading volumes and possibly the value of cryptocurrencies held on or associated with the affected exchange.

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Bitcoin crosses $63,000, influenced by macroeconomic signals and ETF performance.

Upcoming Bitcoin halving and interest rate cut hints fuel investor optimism.

Ethereum and other cryptocurrencies also see gains, but with varied ETF success.

Bitcoin has once again captured the financial world’s attention by surpassing the $63,000 mark, a significant recovery from its fluctuations earlier in the year. This surge comes amidst a backdrop of economic indicators and crypto-specific developments that have together propelled Bitcoin to new heights in 2024.

The Influence of Macroeconomic Factors

Following Fed Chair Jerome Powell’s hints at potential interest rate cuts during his speech at Jackson Hole, the cryptocurrency market experienced a bullish trend. Bitcoin’s price increase reflects a broader market sentiment, where digital assets are increasingly seen as hedges against inflation and economic uncertainty.

ETF Performance and Market Dynamics

The introduction of Bitcoin ETFs has played a pivotal role. With daily inflows into spot Bitcoin ETFs, like BlackRock’s IBIT, reaching unprecedented levels, it’s clear that institutional interest is not waning but rather intensifying. Conversely, Ether ETFs struggle, showcasing a divergence in investor preference within the crypto space.

The Halving Effect

The anticipation of Bitcoin’s halving event, expected in April, adds to the bullish narrative. This event, which reduces the reward for mining new blocks, inherently decreases the new supply of Bitcoin entering the market, often leading to price increases due to scarcity.

Why is this Important?

Investor Confidence: This milestone reinforces Bitcoin’s position as a viable investment, potentially attracting more conservative investors.

Market Maturation: Bitcoin’s movement past $63,000 signifies a maturing market, less swayed by speculative trading and more by fundamental economic factors.

Global Economic Implications: The response of Bitcoin to macroeconomic policies like interest rate adjustments underscores its growing role in global finance.

Looking Ahead

With Bitcoin’s current trajectory, analysts using tools like the Elliot Wave Theory suggest further growth potential. However, the market remains cautious due to factors like miners’ profitability and global economic stability.

As Bitcoin continues to navigate through economic signals and internal market dynamics, its journey past $63,000 marks not just a price point but a testament to its enduring relevance and evolving role in the global financial landscape.

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Google Cloud introduces a new Ethereum-compatible RPC service.

The service aims to simplify blockchain interactions for developers.

It’s part of Google’s broader strategy to support Web3 infrastructure.

Offers a free tier with up to 100 requests per second.

Plans for expansion to other blockchain networks are in place.

Google Cloud’s Leap into Web3: Ethereum RPC Service Launched

Google Cloud has announced the launch of its new Blockchain Remote Procedure Call (RPC) service, specifically designed to be compatible with Ethereum. This service marks Google’s latest venture into the realm of Web3, aiming to provide developers with a robust, scalable, and cost-effective way to interact with blockchain data.

Why This Matters for Web3 Developers

Simplification of Blockchain Interaction: Traditionally, developers needed to manage their own nodes to interact with blockchain networks. Google’s RPC service eliminates this complexity, allowing developers to focus more on application development rather than infrastructure management.

Cost-Effectiveness: The introduction of a free tier, which supports up to 100 requests per second and 1 million requests per day, makes this service particularly appealing for startups and individual developers who might find running their own nodes cost-prohibitive.

Scalability and Reliability: Leveraging Google Cloud’s infrastructure, this service promises enterprise-grade reliability, crucial for applications where downtime can be costly or detrimental.

The details: Provides developers with a streamlined way to interact with blockchain data Offers a scalable and reliable solution that eliminates the complexities of managing node infrastructure Free tier with 100 requests/second + 1 million requests per day

— Google Cloud (@googlecloud) September 18, 2024

The Technical Edge

The RPC service is fully compatible with the Ethereum JSON-RPC standard, which means integration into existing Ethereum-based applications could be as simple as changing a single line of code. This compatibility is not just about ease of use but also about adhering to standards that ensure interoperability across different blockchain ecosystems.

Looking Beyond Ethereum

While the service launches with Ethereum support, Google Cloud has expressed intentions to expand to other blockchain networks. This roadmap suggests Google’s commitment to becoming a central hub for Web3 infrastructure, potentially covering a broad spectrum of blockchain technologies.

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Projects will showcase across four Realms: Culture & Community, Decentralized Finance, Gaming and Etherlink at the iconic CHIJMES Hall. The event will be held at a restored early Gothic style 19th Century chapel that is now a national monument.

Tezos Realm will be headlined by renowned DJ Agoria aka Sébastien Devaud, a longtime Tezos ecosystem member passionate about biological generative art whose work has been displayed at the likes of Musée d’Orsay.

Visitors can experience interactive activities such as earning free tortilla chips and dips every time the Dips Dollar Cost Averaging (DDCA) simulation capitalizes on market dips at the Renora showcase, play OCV Lab’s emoji matching game and mint their score on the blockchain, get their Tezos Realm Proof of Attendance with the decentralized proof of identity  application YourD, and more.

SINGAPORE – 16 September 2024 — The Tezos blockchain will be in the spotlight during TOKEN2049 week with Web3 ecosystem builder TZ APAC hosting Tezos Realm at the iconic CHIJMES Hall. Held on 18 September from 6.30pm onwards, the event will showcase 15 innovative projects building on Tezos, a pioneering Layer 1 Proof-of-Stake blockchain, and Etherlink, an EVM-compatible Layer 2 blockchain powered by Tezos Smart Rollups.

Tezos Realm will feature four dedicated ‘Realms’ designed to help visitors experience the real-world innovation coming out of the Tezos and Etherlink ecosystems.

In the Etherlink Realm, visitors will be able to participate in a hands-on demo of the Kredete app to understand how the platform helps African immigrants in the diaspora send money back home instantly with low fees, while also helping users build credit through the utilization of blockchain technology. Other showcases in the Etherlink Realm include UHT (a platform gamifying good healthy practices) Questflow (an orchestration layer of multi-agent economy that turns users’ intents into multi-agent actions), TaskOn (a Web3 Community Growth Platform) and YourD (a Web 3.0 RegTech infrastructure provider offering data management, login, and crypto payment solutions).

Gaming enthusiasts can look forward to interactive experiences at the Gaming Realm, such as minting their first NFT while playing BattleRise. Ladder Protocol (a decentralized AMM protocol that provides instant liquidity for a range of NFTs) will also showcase at the Gaming Realm.

Over at the DeFi Realm, Renora will run a simulation of how Dips Dollar Cost Averaging (DDCA) helps in capitalizing on market dips. Visitors can experience the exhilaration of market dips and enjoy chips with dips as they experience the DDCA simulation. Renora will showcase alongside up-and-coming DeFi applications SuperLend and Hanji.

Visitors will be treated to a variety of immersive experiences at the Culture & Community Realm, meeting the people behind the top decentralized applications (dApps) used by creatives such as Objkt, Tesserart, akaSwap and OnChainVision Labs. They will also get a fresh headshot and join the movement to empower women at the forefront of art, tech and culture at the World of Women (WoW) showcase. 

At the heart of the space will be a Tezos X showcase that will take visitors through the vision for the future of Tezos.

Of the 15 projects showcasing, seven were a part of this year’s Fortify Labs by TZ APAC cohort that serves to empower projects building on Tezos and Etherlink to become market-ready and commercially successful Web3 companies. They include akaSwap, OnChainVision Labs, Renora, Questflow, TaskOn, YourD and Ladder.

Visitors’ journeys through the Realms can be likened to an in-person version of how Web3 questing and community rewards programs are done. Upon entry, visitors will receive a stamp rally card that they will take with them as they visit the showcases. An ink stamp will be made on the stamp rally cards for every interaction or “mission” a visitor makes with a project. With at least 5 stamps on the stamp rally card, visitors can unlock exclusive merchandise “airdrops” such as a Tezos Realm t-shirt and a Tezos travel gadget bag. This physical experience will then transition on chain after the event, where visitors can continue exploring the projects through Season 3 of TZ Apex, a Community Rewards Program by TZ APAC.

Season 3 of TZ Apex also functions as the platform for virtual visitors—those unable to attend the onsite event in Singapore—to experience the vibrancy of the Tezos ecosystem. Through online quests, virtual visitors will be able to interact with projects showcasing on Tezos Realm and earn rewards simultaneously.

Renowned artist and trailblazer in the Web3 digital art world DJ Agoria will headline Tezos Realm. He is a prominent figure in the international electronic music scene and has made waves by presenting works at Musée d’Orsay surrounding biological generative art, which refers to the creation of works using algorithms, artificial intelligence and data from the living world. His creative practice combines art, music, the Metaverse and science, with the aim of bringing the living world into the “blockchain”. Warming up the stage are two talented Singaporean DJs: Amanda Chuin, known for her uncanny ability to read the crowd and adjust the music to match the room’s energy, and KRSTN, who brings an eclectic mix ranging from afro beats to baile funk, and hip hop to downtempo.

David Tng, Managing Director at TZ APAC, said: “The objective of Tezos Realm is to celebrate the community and innovation that resides across the different verticals within the Tezos ecosystem. We would like to give all web3 or web3-curious attendees a glimpse of the real-world applications by developers, builders and participants in the Tezos and Etherlink ecosystems. Whether you are an artist new to Web3, a cryptography enthusiast, or an aspiring builder who is interested in Arts, DeFi or Gaming, there will be something compelling on display for everyone.”

Tezos Realm will be held at the iconic CHIJMES Hall, a restored early Gothic style 19th Century chapel that is now a national monument. The venue is accessible from the main TOKEN2049 conference venue through public transport and taxi. The event will be one of many Tezos ecosystem activities held during TOKEN2049 week, a full list of which can be accessed through this article.

Visitors can sign up for Tezos Realm on the official event Luma page, while members of the media can sign up through the media registration link.

###

About Tezos

Tezos is smart money,  redefining what it means to hold and exchange value in a digitally connected world.  A  self-upgradable and energy-efficient  Proof-of-Stake blockchain with a proven track record, Tezos seamlessly adopts tomorrow’s innovations without network disruptions today. For more information, please visit www.tezos.com.

About Etherlink

Etherlink is an EVM-compatible Layer 2 blockchain powered by Tezos Smart Rollups. It’s permissionless, inherits Tezos Layer 1 security, and features a decentralized governance model, fraud proofs, and censorship resistance. It’s fast, fair and (nearly) free with extremely low transaction costs, and features MEV protection by design.

About TZ APAC

TZ APAC is a web3 ecosystem builder empowering founders, creators, developers and institution leaders to thrive. With dedicated teams across Asia, TZ APAC is hyper-local at heart with a mission to nurture the next generation of DeFi, Gaming and Culture & Community champions in the region. TZ APAC’s commitment to building a strong network of Web3 startups, grassroot communities and global organizations is accelerating Tezos as the blockchain of choice in Asia. TZ APAC is supported by the Tezos Foundation and is headquartered in Singapore.

For media enquiries, please contact: 

Daston LamSenior Account Executive DIFY Singapore daston.lam@dify.sg+65 9641 3301

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As governments around the world begin to establish rules for cryptocurrencies, it is crucial to understand how these regulations may impact the future of digital assets. From the European Union to the United States, the regulatory landscape is changing rapidly. 

A Necessary Move

Cryptocurrencies have long been seen as an unregulated space, which has led to distrust and speculation. However, this landscape is changing. According to the International Organization of Securities Commissions (IOSCO), 18 recommendations have been put forward to set global standards on the management of crypto and digital assets. 

“the collapse of the FTX exchange underlined the urgent need for rules that protect investors.”

Sweden’s Finance Minister, Elisabeth Svantesson

This effort is part of a broader move to regulate a sector that has grown exponentially in recent years. As the World Economic Forum points out in its report, “Pathways to the Regulation of Crypto-Assets,” the urgency to regulate these assets has increased following several crypto-related exchange collapses. Sweden’s Finance Minister, Elisabeth Svantesson emphasized that “the collapse of the FTX exchange underlined the urgent need for rules that protect investors.”

Regulation in Action

Europe: A Model to Follow: The European Union took the lead by introducing the Markets in Crypto-Assets Regulation (MiCA) in May 2023, establishing a comprehensive regulatory framework. This regulation requires any company issuing or trading in crypto assets to obtain a license. From January 2026, all service providers will be required to verify the identity of senders and beneficiaries in transactions above €1,000. This approach aims to protect investors and prevent money laundering. 

United States: Progress and Challenges: In the United States, the situation is more complex. Draft bills such as the Financial Innovation and Technology Act (FIT) and the Blockchain Regulatory Certainty Act have been introduced, but these have seen little progress. The lack of a clear regulatory framework has left many in the industry feeling uncertain. Tyler Winklevoss, co-founder of Gemini, lamented that “while U.S. regulators fiddle, Europe forges ahead with clear rules.” 

United Kingdom: A New Approach: The United Kingdom has also made significant moves by recognizing crypto trading as a regulated financial activity. From January 2024, crypto exchanges will be required to obtain licenses and conduct risk assessments. This marks an important step towards creating a safer environment for users.

Emerging Regulations in Latin America: A Look at Regional Legislation

According to data obtained from research conducted by the UEAN (Universidad Escuela Argentina de Negocios), the Blockchain Observatory and Perfil, regulatory legislation in the region shows the following progress:

Argentina: has implemented several regulations for cryptocurrencies in recent years:

In 2019, cryptocurrency-related service providers were required to register and comply with certain legal and security requirements.

Taxes on cryptocurrency profits were included and mandatory registration was created for cryptoasset service providers.

The commissions charged by exchanges to their users are covered by VAT, although people who operate with cryptoassets are not covered by VAT.

Brazil: has shown greater acceptance and adoption of cryptocurrencies in the region:

In June 2023, Brazil made the Central Bank the regulator of cryptocurrencies.

Although they do not have a specific legal or regulatory status, the Brazilian government has issued statements recognizing the legality of using cryptocurrencies as a means of payment and investment.

There are regulatory proposals under discussion to address issues such as the prevention of money laundering and the protection of users.

Uruguay: has also taken steps towards cryptocurrency regulation:

In 2018, the Uruguayan Fintech Chamber created a Cryptocurrency Commission to develop a specific regulatory framework.

In 2021, the Central Bank of Uruguay published a document preparing the ground for regulation through its financial innovation program, Nova BCU.

The law defines a virtual asset as a “digital representation of value or contractual rights that can be stored, transferred and negotiated electronically.”

Although regulation in Latin America is still developing, these examples show that countries in the region are taking steps to adapt their regulatory frameworks to the growing adoption of cryptocurrencies.

The Importance of Regulation

The regulation of cryptocurrencies not only seeks to protect investors, but also to promote the progress and improvement of this sector. As the International Monetary Fund (IMF) indicates, “adequate regulation could offer a safe space for innovation.” This is critical as the world of cryptocurrencies evolves rapidly and regulators must keep up with the constant changes.

Cryptocurrency regulation is at an inflection point. As more governments join in creating regulatory frameworks, it is essential that both investors and companies stay informed about these changes. Regulation can bring a greater level of trust and security in the market, which could boost the adoption of cryptocurrencies globally. The era of regulation has begun, and it is an exciting time for the world of digital assets.

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MicroStrategy plans to raise $700M through a new bond sale.

Part of the funds will increase Bitcoin reserves, with recent purchases totaling 18,300 BTC.

The company now holds over 245,000 BTC, valued at over $14 billion.

MicroStrategy’s Financial Strategy: Bonds for Bitcoin

MicroStrategy has announced plans to raise approximately $700 million through the sale of additional convertible senior notes. These notes, set to mature in 2028, will not only provide the company with liquidity but also fuel its ongoing strategy to bolster its Bitcoin reserves.

Why Bonds? Why Now?

You might wonder, why go through the hassle of issuing bonds? The answer lies in MicroStrategy’s vision for Bitcoin as the future of money. By issuing these bonds, the company is essentially betting on Bitcoin’s potential for significant growth.

The bond sale injects cash into MicroStrategy’s coffers, allowing it to seize opportunities in the volatile crypto market without needing to liquidate other assets.

Holders of these bonds have the option to convert them into MicroStrategy stock at a later date. This feature can be attractive to investors, potentially reducing the interest rate the company has to pay.

Instead of traditional financing, this method aligns with MicroStrategy’s strategy of leveraging debt to acquire Bitcoin, which they view as a superior asset compared to cash or other traditional investments.

The Bitcoin Purchase

Just last week, MicroStrategy added 18,300 BTC to its portfolio, spending around $1.1 billion. This acquisition brings their total Bitcoin holdings to over 245,000 BTC, which at current valuations, exceeds $14 billion. This move not only cements MicroStrategy’s position as the largest corporate holder of Bitcoin but also signals a strong vote of confidence in cryptocurrency’s future.

Market Reaction and Implications

The market’s reaction has been largely positive, with MicroStrategy’s stock seeing a premarket rise. This enthusiasm reflects broader investor sentiment towards Bitcoin and companies like MicroStrategy that are all-in on the cryptocurrency.

More Bitcoin means more risk but also potentially higher rewards if Bitcoin’s value continues to climb.

MicroStrategy’s strategy could encourage other corporations to consider Bitcoin as a treasury reserve asset.

While this strategy has paid off so far, the increasing debt load might concern some investors, especially if Bitcoin’s price were to plummet.

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What is Fantom?

Fantom is a high-performance, open-source platform that enables developers to build and deploy decentralized applications (dApps). It operates on a directed acyclic graph (DAG) consensus mechanism, which offers significantly faster transaction speeds and lower fees compared to traditional blockchain networks.

How it Works

Fantom’s DAG-based architecture allows for parallel processing of transactions, eliminating the need for block confirmation times. This results in near-instantaneous finality, making it suitable for applications that require real-time transactions, such as payments, gaming, and supply chain management.

Brief History

The Fantom Foundation was established in 2018 with the goal of creating a scalable and efficient blockchain platform. After raising funds through an initial coin offering (ICO), the team began developing the Fantom protocol. In 2019, the mainnet launched, and the network has been steadily growing and expanding its ecosystem since then.

Distinctive Features

Speed and Scalability: Fantom’s DAG-based consensus mechanism enables it to process thousands of transactions per second, making it one of the fastest blockchain platforms available.

Low Transaction Fees: The network’s efficient architecture results in minimal transaction costs, making it attractive for developers and users alike.

Interoperability: Fantom is compatible with the Ethereum Virtual Machine (EVM), allowing developers to easily port their dApps from Ethereum to the Fantom network.

Security: The network employs a multi-layered security approach, including Byzantine Fault Tolerance (BFT) consensus and regular audits to ensure the safety of funds and data.

Governance

Fantom’s governance model is based on the FTM token, which is used for voting on network upgrades and proposals. Token holders can participate in the decision-making process, ensuring that the network’s development aligns with the needs and interests of the community.

Fact Sheet

Project Fantom Smart contract EVM-compatible Official Website https://fantom.foundation/ Audits https://fantom.foundation/ ICO date 2018 Documentation, Whitepaper https://fantom.foundation/ Social Accounts Twitter: @FantomFoundation

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As the crypto market navigates through the complex currents of global finance on September 16, 2024, several pivotal developments are shaping investor sentiment and market dynamics. Here’s a snapshot of what’s driving the crypto sphere today:

Market Sentiment and Bitcoin’s Dance: The market has been witnessing a bearish trend, with Bitcoin (BTC) dipping below the significant $60,000 threshold, currently hovering around $58,700. This decline coincides with broader market jitters ahead of the Federal Open Market Committee’s (FOMC) meeting, which could announce the first-rate cut in this cycle, potentially affecting all asset classes, including cryptocurrencies. The anticipation around this event has led to significant liquidations, with over $70 million in long positions wiped out, exacerbating the downturn, particularly in thin liquidity conditions like the Asia market open.

Regulatory Winds and Institutional Moves: The Securities and Exchange Commission’s (SEC) intensified scrutiny, highlighted by a record $4.7 billion in penalties this year, casts a regulatory shadow over the crypto market. Meanwhile, Circle’s strategic move to New York, eyeing an IPO, alongside warnings from Binance about new wallet-targeting malware, underscores the evolving landscape where legal frameworks and security are becoming as crucial as market performance.

Altcoins Amidst the Storm: While Bitcoin and Ethereum (ETH) face downward pressure, with Ethereum struggling at around $2,300, other altcoins like Sui (SUI) and Fantom (FTM) are posting gains, suggesting a possible divergence in investor strategies towards less conventional assets. This could be attributed to specific developments like Fantom’s upcoming transition to Sonic, signaling robust community and developmental activity.

Investment and Market Mechanics: Recent data indicates a rebound in investment inflows into digital assets, reaching $436 million, a positive sign after a period marked by outflows. This turnaround might be fueled by expectations of monetary easing from the Fed, which could make cryptocurrencies more attractive as alternative investments. Moreover, the crypto market’s integration into broader financial systems, as seen with the first spot Bitcoin ETFs and now Ethereum ETFs, continues to legitimize crypto as an asset class, potentially driving more institutional interest.

Looking Ahead: As we approach the FOMC meeting, all eyes are on how the Fed’s actions will ripple through the crypto markets. The crypto space, with its inherent volatility, presents both risks and opportunities. For investors, understanding these dynamics is crucial. While Bitcoin and Ethereum might be consolidating or correcting, altcoins could offer speculative opportunities. However, with increased regulatory scrutiny, due diligence on security and compliance could become as critical as market analysis.

Today’s crypto market, characterized by cautious optimism mixed with regulatory overhang, paints a picture of a maturing space where traditional finance meets the digital frontier. Investors and enthusiasts alike are navigating these waters with a keen eye on both innovation and the growing regulatory footprint.

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Dates: September 20-21, 2024

Location: Suntec Singapore Convention & Exhibition Centre

Ticket Sales: Sold out with over 5,000 attendees, tickets priced from $100 to $500.

New Format: Two distinct stages for different focuses – technology and user adoption.

Key Discussions: Solana’s roadmap, debates on technology vs. user base in crypto, and more.

Setting the Stage in Singapore

Solana’s Breakpoint 2024 isn’t just another tech conference; it’s a beacon for blockchain enthusiasts, developers, and visionaries from around the globe. Held in the bustling heart of Singapore, this event marks a pivotal moment for Solana, showcasing its ambitious strides in decentralizing technology.

The Breakpoint Experience

A New Conference Model

Breakpoint 2024 introduces a unique conference format with two main stages:

Left Curve: Focused on user adoption, product showcases, and discussions that drive the practical application of Solana in everyday life.

Right Curve: Geared towards developers, engineers, and tech enthusiasts, this stage delves into the nitty-gritty of blockchain technology, pushing the boundaries of what’s possible with Solana.

Key Sessions and Speakers

A fireside chat with Solana’s founder, Anatoly Yakovenko, and key developers will unpack the next evolution of Solana, promising enhanced performance and scalability. This session isn’t just about what’s next; it’s about redefining the blockchain landscape.

A notable panel discussion moderated by Dovey Wan features insights into the often-discussed divide between Western technology and Eastern user adoption in cryptocurrency. This session aims to bridge perspectives, fostering a global understanding of blockchain’s potential.

Over 5,000 attendees, underscoring the significant interest in Solana’s development.

Tweets by Solana_SBT Community and Engagement

Art Meets Blockchain: An event organized by ArtradeApp highlights how Solana isn’t just about finance but also culture, inviting attendees to explore Singapore’s art scene, emphasizing the intersection of digital and physical art.

Networking and Beyond: Beyond the talks, Breakpoint 2024 fosters community through workshops, meetups, and even a closing celebration, making it a melting pot of ideas, innovations, and collaborations.

A New Chapter for Solana

For Solana, it’s about consolidating its position as a leader in blockchain technology, navigating regulatory waters, and engaging its community on a global scale.

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Interest Rates are Slashed: The Federal Reserve announces its first interest rate cut, signaling a shift in economic strategy.

Crypto Markets React: Bitcoin and Ethereum saw notable dips, reflecting investor caution amidst the rate cut anticipation.

Market Sentiment: While some expect a short-term volatility, others are banking on a bullish trend as liquidity potentially increases.

The Fed’s First Cut: Navigating the Economic Landscape of September 2024

The next meeting of the Fed’s Federal Open Market Committee is scheduled for Tuesday and Wednesday, with investors and policymakers anticipating a rate cut announcement.

Why the Cut? The decision reflects concerns over a slowing economy, with indicators suggesting a potential downturn. By lowering rates, the Fed aims to stimulate borrowing, which could spur business expansion and consumer spending.

For the average American, this might mean lower mortgage rates, cheaper loans for new cars, and more affordable credit card debt. “This is like a financial jolt to the arm,” explained economist Dr. Laura Simmons, “expect consumer confidence to get a boost.”

Markets are currently pricing in a 61% chance of a 50 basis point rate cut at the Sept. 17-18 Fed meeting, and a 39% chance of a 25 basis point cut, the CME FedWatch tool shows. A few hours ago, the odds were 50-50 for each cut, according to reports.

Why the Cut Matters to Crypto Enthusiasts

A hint at lower borrowing costs historically has driven bullish sentiment among traders as easier access to cash spurs growth in riskier sectors such as cryptocurrencies.

Bitcoin tumbled to just below $58,000, with Ethereum following suit, dropping over 6%. The market’s pulse quickens as investors ponder the implications.

This isn’t just about conventional finance; it’s about the dance between fiat and crypto.

THIS WEEK: RATE DECISIONS THAT COULD ROCK THE CRYPTO WORLDThis week, all eyes will be on crucial interest rate decisions from major central banks.On September 18, the Federal Reserve is set to announce its rate decision and economic forecast.Then, on September 19, the Bank… pic.twitter.com/9LG7ZBKVPy

— Crypto Town Hall (@Crypto_TownHall) September 16, 2024

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SINGAPORE – 13 September 2024 — EMERGE Group, a commercialisation partner and marcom firm, is proud to announce its latest partnership with GEDA, a leading Web3 gaming platform, for the upcoming Web3 Fiesta held in Singapore at Robertson Walk on 19 September, 6.30 pm. Along with EMERGE Group and GEDA, the Web3 Fiesta event is jointly co-hosted by DTC Group, a prominent Web3 incubator and accelerator, and Avocado DAO, a premier Web3 gaming guild. 

This announcement follows the resounding success of EMERGE Group’s recent Web3 Fiesta IP event at Korea Blockchain Week (KBW), which attracted over 1000 attendees over the full-day event, solidifying EMERGE Group’s position as a key player in the global Web3 space.

The Singapore Web3 Fiesta event, co-hosted by EMERGE Group, GEDA, DTC Group and DIFY, is set to be a premier event during Token2049 and will feature insightful discussions with industry leaders, lively networking sessions and exclusive previews from upcoming GameFi projects. 

The EMERGE Group and GEDA Partnership

In conjunction with the Web3 Fiesta collaboration, EMERGE Group and GEDA aim to drive innovation in the rapidly evolving sectors of GameFi and Esports. By combining EMERGE Group’s extensive IP network, robust Web3 marketing support, and proven go-to-market strategies with GEDA’s expertise in hosting popular Web3 games like MATR1X FIRE, the partnership is set to onboard a new wave of Esports enthusiasts into Web3 gaming.

“We are thrilled to join forces with GEDA for our popular Web3 Fiesta event,” said Terry Tang, Regional Business Development and Partnerships Director at EMERGE Group. “This partnership is a significant step forward in our mission to shape the future of GameFi and Esports, creating new opportunities for gamers and developers alike in the Web3 ecosystem.”

The post EMERGE Group Partners with GEDA to Launch its 2nd Web3 Fiesta in Singapore Following KBW Success appeared first on Cryptopress.

​Imagine a world where multichain d’App development is effortless, blockchains interact seamlessly, liquidity flows securely between Ethereum, Bitcoin, and other chains, and communities unite rather than divide. This is the future we’re exploring on Chain Fusion Day, powered by Internet Computer.

Chain Fusion Hub, powered by ICP (Internet Computer Protocol), is an exclusive event series that brings together the strongest builders from across different chains on a mission to create the interoperable Web3 future. 

Held over two days at The Fullerton Hotel, an iconic neoclassical landmark of the city-state, the Singapore edition of the event series coincides with Token2049/Asia Crypto Week as well as Singapore’s signature Formula One Night Race.Chain Fusion Hub will bring together leading experts and industry figureheads, as well as institutional and governmental leaders, to share their insights and collaborations around the industry’s most innovative and groundbreaking solutions. 

Chain Fusion Hub @ Token2049 Singapore features two-day cutting-edge conversations from September 19-20, highlighting prominent speakers like Dominic Williams, Dfinity co-founder, Kevin Williams, Sats Ventures Founder & GP, Sunny Aggarwal, Osmosis Co-Founder and many more!Chain Fusion Hub @ Token2049 Singapore: Two Days of Cutting Edge Conversations

Day One kicks off with AI Web3 City Luncheon that explores the convergence of AI and Web3 in transforming urban living and creating smart and inclusive cities. Followed by Chain Fusion Day, with exciting presentations and panels of cross-chain solutions and collaborations, as well as the concurrently running IOV2055 which features key blockchain ecosystems from Malaysia. Day One ends with an invite-only Chain Fusion Night VIP party at a “Secret Mansion” location. 

Day Two starts off with 3 events running concurrently – AI 2049 which delves into AI in Web3 innovations and the dialogue around AI and blockchain governance; the Olympus Brunch | Bitcoin Edition which features founders, builders and investors in the Bitcoin ecosystem; as well as KillerWhales Live, the high-stakes Web3 entrepreneur reality TV show. VC<>Startup Connect: Singapore Edition run by Cointelegraph Accelerator and NewTribe Capital connects VCs and startups; RUNES 2049 by Ominity Network and RunesCC focuses on RUNES technology; while Bitcoin Hub Singapore is the biggest Bitcoin event at Token2049 week.

Day 1 – September 19th

Chain Fusion Day | Token 2049 Edition: https://lu.ma/7gbuert7 

AI Web3 City Luncheon: https://lu.ma/0w4z6ebl 

Chain Fusion Night | Secret Mansion Edition: https://lu.ma/5ybjbztb 

Day 2 – September 20th

AI 2049: Chain Reaction: https://lu.ma/ky9bpvik 

Olympus Brunch | Bitcoin Edition: https://lu.ma/2vxw0fxy 

KillerWhales Live @ Chain Fusion Hub: https://lu.ma/zlopfr4j 

Bitcoin Hub Singapore: https://lu.ma/Bitcoin_Hub_Singapore 

Check out the Chain Fusion Hub @ Token2049 luma page for the full list of events: https://lu.ma/chain-fusion-hub-at-token2049-singapore 

Other event details: 

Event Name: Chain Fusion Hub @ Token2049 Singapore

Event Type: Conference

Event Category: Physical/In-Person Event 

Event Date: Sep 19-20, 2024

Venue and exact location: The Fullerton Hotel Singapore, 1 Fullerton Square, Singapore 049178

Expected Attendees: 2000+

Start and End time of the event: 10am – 9pm

Organizer: Internet Computer Protocol 

Organizer’s URL: https://internetcomputer.org/chainfusion

Registration link: https://lu.ma/chain-fusion-hub-at-token2049-singapore

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Leading Polygon DeFi suite QuickSwap is concluding the 2024 summer, shining like a light of hope, with a series of aggressive launches and deployments focused on dominating the EVM perpetuals sector. QuickSwap is proving itself to be a beacon of the Web3 industry as it is relatively unaffected by continued challenging market conditions which have been causing setbacks for many others After capturing a significant share of the Polygon-based perpetuals scene over the last two years with its ever-popular decentralized Perpetual Exchange QuickPerps, as well as launching its massive hit podcast “The Aggregated”, QuickSwap has also recently launched an entirely new version on Polygon PoS. Garnering overwhelming community support and attention from several very influential and informed industry leaders, QuickPerps’ newest launch has the entire Web3 space and X buzzing. 

Called QuickPerps Falkor, QuickSwap’s newest and most innovative perpetuals DEX brings the best and most in-demand features to a growing user base of sophisticated on-chain margin traders. More importantly, this new perpetual exchange involved QuickSwap partnering with Orderly Network to enable zero gas trades, support up to 50x leverage, and tap into their deep liquidity. 

With major developments and expansion plans driving growth for QuickSwap, it comes as no surprise that Tron founder and industry leader Justin Sun published a not-so-cryptic X post very recently, drawing attention to the project and sparking a firestorm of positive comments from leaders around the Web3 industry leaders. One thing is for sure: the relentless, unbound, innovative, and adventurous fire-breathing dragons that are the QuickSwap community WILL stop at nothing to become leaders in all things DeFi. They are certainly living up to their frequently quoted catchphrase: “Can’t Stop, Won’t Stop, QuickSwap!” 

QuickPerps Falkor: Planning to Conquer on Ethereum Mainnet 

By both innovating its perpetuals offering to augment cutting-edge features and expanding to Polygon’s most popular PoS chain, QuickSwap is following through on its December 2023 battle plan to take over the Polygon 2.0’s thriving DeFi scene – and continue its crusade onward into new territories. 

However, QuickSwap is not just focused on building the best Perpetuals Exchange – it’s also committed to expanding its presence aggressively. With Falkor officially lined up to launch on Ethereum Layer 1, users will be able to deposit USDC directly from Ethereum onto Orderly Network to trade perpetuals with zero gas fees and up to 50x leverage. 

Whether users arrive from Ethereum or Polygon PoS, the plan is to have its users enjoying all the best of perpetuals trading on QuickPerps Falkor.

Burning QUICK Buybacks 

Refusing to limit its strategic expansion to technical advancements and business development initiatives, QuickSwap is now also on the verge of revamping QUICK’s tokenomics with a hefty burn proposal. Proposed through the QuickSwap DAO and put to vote this week by QUICK token holders, the proposal sets forth a three-month initiative where all QUICK buybacks from protocol revenue will be burned – that is, removed from the QUICK circulating supply via a send transaction to burn address. Previously issued to stakers via the Dragon’s Lair, QuickSwap’s new token burn initiative is designed to re-calibrate its tokenomics, thereby giving back to its raging community of dragons. 

With QuickSwap planning expansion to Ethereum Layer 1 on two massive fronts with its Perpetuals DEX and swap aggregator, while also preparing to significantly reduce its token supply via a massive burn initiative, the most influential voices in the EVM DeFi scene whose consistency and tenacity many are noticing and clearly showing respect for. 

At this rate, it is only a matter of time before Web3’s largest user migration takes off. QuickSwap is waiting with open arms, a lot of leverage, and clear lungs filled with fire to conquer and unite as much of Web3 as possible… Friend or Foe, you can’t help but absolutely respect what the dragon ecosystem is up to and accomplishing at large.

The post QuickSwap Plans Expansion to Ethereum Mainnet And Continues To Be A Very Much Acknowledged Beacon of Innovation appeared first on Cryptopress.

Justin Sun criticizes Coinbase’s cbBTC for lacking transparency and centralization risks.

cbBTC aims to expand Bitcoin’s utility in DeFi but faces scrutiny over its model.

Despite criticism, cbBTC sees significant adoption within 24 hours of launch.

The Controversy Unveiled: Justin Sun’s Critique on cbBTC

Coinbase launched cbBTC, a wrapped version of Bitcoin designed to function on the Ethereum and Base networks, aiming to integrate Bitcoin more seamlessly into the DeFi ecosystem. However, this move was met with immediate criticism from Justin Sun, the founder of Tron, who took to X to express his concerns.

Sun’s Central Concerns

Sun highlighted that cbBTC does not offer a clear proof of reserve, raising questions about the actual backing of the token.

The absence of regular audits was another point of contention, suggesting potential risks in transparency and security.

Perhaps most critically, Sun argued that Coinbase could freeze assets at will, likening cbBTC to a “central bank version of Bitcoin,” which contradicts the decentralized ethos of cryptocurrency.

#cbbtc lacks Proof of Reserve, no audits, and can freeze anyone's balance anytime. Essentially, it’s just 'trust me.' Any U.S. government subpoena could seize all your BTC. There’s no better representation of central bank Bitcoin than this. It’s a dark day for BTC.

— H.E. Justin Sun (hiring) (@justinsuntron) September 12, 2024

Adoption Despite Controversy

Within 24 hours of its launch, cbBTC surged to a market cap of $100M, indicating significant interest and adoption despite the criticisms.

The Bigger Picture: Wrapped Tokens and DeFi

Wrapped tokens like cbBTC and WBTC are pivotal in DeFi for allowing assets like Bitcoin to be used on other blockchains, enhancing liquidity and functionality. However, they also bring forth discussions on centralization.

Trust vs. Decentralization: Wrapped tokens require users to trust the custodian (in this case, Coinbase), which some argue goes against the grain of blockchain’s trustless nature.

Security and Transparency: The debate underscores the need for robust security measures, regular audits, and transparent operations to maintain user trust.

As of early September 2024, WBTC held a dominant 96.6% market share across the Ethereum ecosystem for wrapped Bitcoin products, illustrating the scale at which these assets operate. (Source: Dune Analytics)

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Record Outflows: Bitcoin saw the largest net outflow from exchanges since May, with $750 million withdrawn in a single day.

Market Sentiment: This movement suggests a bullish trend, potentially leading to a price rally as investors move their Bitcoin to personal wallets, often seen as a sign of long-term holding or anticipation of price increases.

Bitcoin’s Exodus from Exchanges: What It Means for Investors

A New Era of Bitcoin Hoarding?

The crypto community is abuzz with the latest data indicating that approximately $750 million worth of Bitcoin was withdrawn from exchanges in just one day, marking the highest outflow since May 2024. This phenomenon isn’t just numbers on a screen; it’s a signal, a whisper in the digital corridors of finance, that something significant might be brewing.

Why the Exodus?

Security Concerns: With the increasing sophistication of cyber threats, holding Bitcoin in personal wallets, often referred to as “cold storage,” provides an additional layer of security against hacks.

Long-Term Investment Strategy: Many investors see this as a strategy to hold Bitcoin for the long term, often dubbed as “HODLing.” The belief here is that by reducing the supply available on exchanges, the price could be driven up due to scarcity.

Anticipation of Price Surge: Historical data suggests that large outflows from exchanges precede significant price increases. Investors might be moving their Bitcoin in anticipation of a rally, perhaps spurred by upcoming economic indicators or global financial shifts.

Market Sentiment and Speculation

Recent discussions on platforms like X (formerly Twitter) reflect a mix of excitement and cautious optimism. Analysts and crypto enthusiasts are dissecting this move:

The Implications for the Crypto Market

This massive withdrawal could have several implications:

Price Rally: If history is any indicator, such movements often precede price increases. The reduced supply on exchanges could lead to a price surge if demand remains constant or grows.

Increased Scarcity: With more Bitcoin held off exchanges, the narrative of Bitcoin’s scarcity could be reinforced, potentially attracting more investors.

Market Maturation: This could be seen as a sign of the market maturing, where holders are becoming more savvy about security and long-term value.

Looking Ahead

While the crypto market is known for its volatility, these outflows could be a precursor to more significant events. Investors are watching closely, with many eyes on upcoming economic reports and Fed meetings, which could further influence Bitcoin’s trajectory.

The post Bitcoin Exchange Outflows Hit Record Highs, Signaling Potential Price Rally appeared first on Cryptopress.

What is Sei?

Sei is a Layer 1 blockchain that is designed to optimize the decentralized finance (DeFi) ecosystem by providing a specialized, high-performance environment for trading and liquidity operations. It positions itself as an “order-book” blockchain, meaning it focuses on supporting exchanges, particularly those relying on order books rather than traditional automated market makers (AMMs). By focusing on enhancing scalability and improving the trading infrastructure for DeFi protocols, Sei seeks to become the backbone of the emerging financial systems in the decentralized space.

In the DeFi world, where speed, liquidity, and efficiency are paramount, Sei addresses many existing challenges in blockchain networks, such as latency issues, network congestion, and high transaction costs. Sei’s goal is to enable decentralized exchanges (DEXs) and other DeFi projects to operate with the efficiency and speed of centralized platforms, without compromising on security and transparency.

How Sei Works

At its core, Sei operates as a Layer 1 blockchain designed for high-throughput and low-latency operations. Unlike general-purpose blockchains like Ethereum, Sei is application-specific and optimizes its functionality around a particular use case: on-chain trading.

Here are key elements of Sei’s architecture:

Optimized for Order Book-based Exchanges:Unlike Automated Market Makers (AMMs), which use liquidity pools to facilitate trades, order books directly match buyers and sellers, creating a more efficient trading mechanism for certain types of assets. Sei has built an infrastructure designed to reduce slippage, enhance price discovery, and allow for advanced trading strategies.

Parallelized Processing:One of Sei’s major innovations is parallelized processing, which allows multiple transactions to be processed simultaneously. This ensures that high volumes of trades can be executed with minimal delays, even during periods of network congestion.

Native Price Oracles:Price oracles are crucial in DeFi for providing reliable external data to smart contracts. Sei integrates native oracles into its blockchain, ensuring that DeFi protocols built on its platform have direct access to real-time, trustworthy price feeds.

Front-running Prevention:Front-running is a major issue in DeFi trading, where certain actors gain an unfair advantage by executing their transactions just before larger orders are processed. Sei combats this problem through frequent batch auctioning, ensuring that all trades within a block are treated equally, preventing malicious actors from manipulating transaction ordering.

A Brief History of Sei

Sei emerged from the desire to create a blockchain that could cater specifically to the needs of decentralized finance applications, focusing on areas where existing blockchains struggled—speed, efficiency, and reliability for high-frequency trading.

Founding and Vision:The development of Sei began in 2021, spearheaded by a team of blockchain engineers and financial experts who recognized that the DeFi space was rapidly expanding but faced significant bottlenecks due to inefficient blockchains. The project’s goal was to create a blockchain that could seamlessly integrate with DEXs while maintaining a user experience comparable to centralized exchanges.

Initial Developments:Sei’s early stages focused on protocol development and creating partnerships with decentralized exchanges, projects in the DeFi space, and financial institutions interested in exploring blockchain technology. The focus on order book mechanisms differentiated Sei from many DeFi ecosystems built around AMM models.

Launch and Growth:Sei launched its mainnet in mid-2023 after several successful testnet phases where it demonstrated impressive throughput and efficiency gains over other blockchains. By focusing on niche yet crucial functionalities like high-frequency trading and real-time price feeds, Sei attracted a variety of DeFi projects to its ecosystem. Since its launch, Sei has continued to grow and is now regarded as a potential key player in the next wave of DeFi innovation.

Distinctive Features of Sei

Sei stands out in the blockchain ecosystem because of its tailored approach to solving DeFi-specific issues. Its architecture is not just focused on creating a general-purpose blockchain but rather aims to be a specialized Layer 1 for the DeFi space. Key features that set Sei apart include:

Order-book Optimization:Sei’s infrastructure supports efficient order matching, a crucial aspect for traders in DEX environments. This feature allows for more advanced trading functionalities like limit orders, which are harder to implement on AMM-based systems.

Parallelized Transactions:To combat latency and ensure faster transaction finality, Sei processes transactions in parallel, meaning multiple trades can be settled simultaneously without congestion, even in high-volume scenarios.

Prevention of Front-Running:By using techniques like frequent batch auctions, Sei ensures fair transaction ordering, which protects traders from losing profits to front-runners.

Native Oracles:Sei includes built-in price oracles, which provide secure, reliable data feeds directly into its ecosystem. This significantly reduces the dependency on external oracle providers and improves the reliability of DeFi applications operating on the platform.

Composability:Like many other DeFi platforms, Sei emphasizes composability, allowing developers to build upon existing protocols and seamlessly integrate their applications within the broader DeFi ecosystem.

Governance on Sei

Sei’s governance model follows the typical DeFi principles of decentralized decision-making. Governance tokens are distributed to users, validators, and developers, giving them a voice in shaping the protocol’s future. These token holders can participate in voting on protocol upgrades, economic parameters, and other important decisions that affect the network.

The governance framework ensures that Sei remains a community-driven project, with its users playing a crucial role in maintaining and evolving the platform.

Fact Sheet

Project Name Sei Smart Contract TBD (Check official explorer for details) Official Website https://www.sei.io Audits Ongoing, with several security audits planned Market Cap $TBD (depending on ICO performance) ICO Date Q3 2023 Documentation/Whitepaper Available on official website Social Accounts Twitter

Sei represents an exciting innovation in the DeFi space. By focusing on order-book optimization, reducing latency, and improving on-chain trading mechanisms, Sei seeks to provide the decentralized finance community with a more reliable and efficient platform. Its architectural innovations, such as parallelized transaction processing and built-in oracles, position Sei as a competitive Layer 1 blockchain in the growing world of decentralized finance.

With increasing DeFi adoption and the demand for better, faster trading solutions, Sei could play a pivotal role in the evolution of decentralized exchanges. For traders, developers, and liquidity providers, Sei offers a platform built with their needs in mind, providing a scalable, secure, and transparent environment to build the next generation of financial applications.

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VC Chains like Sei, Sui, and Aptos are leading DeFi’s TVL growth.

Despite market trends, these ecosystems are attracting significant liquidity.

Their success highlights the impact of venture capital in blockchain innovation.

Introduction to VC Chains and DeFi’s Evolution

In the ever-evolving landscape of decentralized finance (DeFi), 2024 has marked a significant shift towards what’s colloquially known as ‘VC Chains’—blockchain ecosystems backed by venture capital that are not only surviving but thriving amidst market fluctuations. Today, we delve into how Sei, Sui, and Aptos are not just surviving but leading the charge in Total Value Locked (TVL) growth, a key metric in DeFi.

According to data from X posts, Sui’s TVL has increased by over 2000% in just a year, positioning it as one of the fastest-growing layer-1 blockchains in terms of locked value.

The Surge in TVL: A Closer Look

Sei Network’s Momentum: Despite a dip in its token price, Sei’s TVL has surged by 62% in the last month, according to posts on X. This growth is fueled by native protocols like Silo for liquid staking and YeiFinance for lending, showcasing a robust ecosystem development.

Sui’s Explosive Growth: Sui has seen its TVL skyrocket to $665 million, a staggering 2000% increase over the year. This surge is driven by an influx of transactions and bridged assets from Ethereum and Solana, highlighting Sui’s growing appeal as a layer-1 blockchain.

Aptos’ Positioning: While specific TVL figures for Aptos weren’t directly mentioned, its mention alongside Sei and Sui in derivatives volume rankings indicates its competitive standing, even if its growth metrics are less explicit in the provided data.

Why VC Chains Matter in DeFi

The term ‘VC Chains’ refers to blockchain platforms that have received significant venture capital investment. This backing provides these networks with the resources to innovate rapidly, which in turn attracts more developers, users, and liquidity.

With substantial funding, these chains can afford to develop cutting-edge technology, which often leads to better scalability, security, and user experience.

The promise of working on well-funded projects with high visibility draws top-tier developers and further investment, creating a positive feedback loop.

VC-backed chains often have the financial buffer to weather market downturns, continuing development and marketing efforts that keep their ecosystems vibrant.

The future looks decentralized

The rise of Sei, Sui, and Aptos isn’t just about numbers; it’s a testament to the evolving dynamics of DeFi. These platforms are setting new benchmarks for what’s possible in blockchain technology.

The movement of assets from established chains like Ethereum and Solana to these new ecosystems via bridges like Wormhole indicates a growing trend towards a more interconnected DeFi universe.

The development of unique DeFi protocols within these ecosystems, such as Sui’s lending platforms or Sei’s staking solutions, suggests a broadening of financial tools available to users.

The organic growth of trading groups, meme coins, and community engagement around these chains points to a vibrant, self-sustaining ecosystem.

The post DeFi’s Vanguard: Exploring the Growth of Sei, Sui, and Aptos appeared first on Cryptopress.

Cryptocurrencies were notably absent from the Trump-Harris presidential debate.

Topics like abortion, immigration, inflation, and Ukraine dominated the discussion.

Bitcoin’s price fell below $57,000 following the debate.

Kamala Harris seemed to gain favor among crypto enthusiasts post-debate.

The Crypto Silence in the Presidential Debate

During the first presidential debate of 2024 between Donald Trump and Kamala Harris, cryptocurrencies were conspicuously absent from the conversation. While the nation tuned in expecting insights into how the next president might approach digital currencies, the debate pivoted towards traditional political battlegrounds like abortion, immigration, and economic policy.

Why Crypto Was Left Out

The omission of cryptocurrencies might seem puzzling given their rising prominence in financial discussions. However, both candidates might have calculated that diving into the complexities of blockchain technology and digital assets could alienate voters more concerned with immediate, tangible issues. Yet, this silence didn’t go unnoticed by the crypto community, which has been vocal about the need for clear regulatory frameworks.

Market Reaction: Bitcoin’s Dip

Following the debate, Bitcoin experienced a noticeable drop, falling below $57,000. This decline can be attributed to several factors, including the lack of policy discussion that might have reassured investors. The crypto market, often seen as a barometer for investor sentiment, reacted swiftly, reflecting perhaps a sense of disappointment or uncertainty.

Neither candidate offered a coherent economic policy during the debate They covered immigration, wars, domestic unrest, and different personal tactics in the debates, but no mention of crypto left the market hanging in uncertaintyLately, the buzz was all about if #Trump… https://t.co/67MvvFBXOW pic.twitter.com/ZDEvHkSZ6G

— Rektology (@rektlogy) September 11, 2024

Harris’s Unexpected Gain in Crypto Circles

Interestingly, despite the absence of crypto talk, Kamala Harris appeared to gain traction among cryptocurrency enthusiasts. Platforms like Polymarket, where users bet on future events, saw a shift in favor of Harris. This could be due to her broader policy stances that might indirectly benefit the crypto space, such as her approach to technology and innovation, or simply a reaction against Trump’s previous skepticism towards cryptocurrencies.

The Broader Implications

Political Engagement with Tech: The debate’s content highlights a broader disconnect between political discourse and technological advancement. As cryptocurrencies become more integrated into the global economy, their exclusion from such a high-profile discussion might signal a lag in political adaptation to tech trends.

Market Volatility: The immediate drop in Bitcoin’s price post-debate underscores the market’s sensitivity to political events, even when those events don’t directly address crypto. This volatility could be a lesson in the interconnectedness of politics and finance in the digital age.

Looking Forward

For now, the silence on crypto might just be the calm before a more informed storm, where candidates will need to address the elephant in the room—or rather, the blockchain in the ballot box.

The post Cryptocurrency’s Absence in Trump-Harris Debate appeared first on Cryptopress.

Bitcoin ETFs have indeed broken an 8-day streak of outflows by recording net inflows of approximately $28 million. This shift comes after a period where these ETFs experienced significant outflows, totaling around $1.2 billion, marking a notable turnaround in investor behavior towards Bitcoin ETFs. Here’s a brief overview based on the information available up to September 10, 2024:

Recent Performance: After a prolonged period of outflows, which started around late August, Bitcoin ETFs saw their first inflow in over a week, signaling a potential change in market sentiment or strategy.

Inflow Leaders: Fidelity’s Wise Origin Bitcoin Fund (FBTC) and Bitwise’s Bitcoin ETF (BITB) were among the leaders in terms of inflows, with FBTC seeing inflows matching the total figure of $28.6 million, and BITB close behind with $22 million.

Market Sentiment: This inflow could be interpreted as a vote of confidence from investors, possibly reacting to market conditions, news, or anticipation of future price movements. However, it’s worth noting that while this is a positive sign, the inflows are still relatively modest compared to the previous outflows.

Price Reaction: Following these inflows, Bitcoin’s price showed a positive reaction, moving above $56,500 and even reaching towards $57,000, indicating that market sentiment might be improving or that there’s renewed interest in Bitcoin as an investment.

Context: The crypto market often experiences volatility, and ETFs can reflect broader market sentiments or reactions to specific events. The end of the outflow streak might be influenced by various factors, including macroeconomic trends, regulatory news, or shifts in investor perception of Bitcoin’s role in portfolios.

Good morning,Yesterday's Bitcoin ETF flows were positive for the first time in a while for $28.6 million.Blackrock had its 3rd outflow day for $9.1 million, GBTC had $22.8 million of outflows.Fidelity had $28.6 million of inflows and Bitwise $22 million.Bitcoin went from… pic.twitter.com/b4rnSzlQ0M

— WhalePanda (@WhalePanda) September 10, 2024

This development suggests that while there was a significant withdrawal of funds from Bitcoin ETFs recently, the market might be stabilizing or even seeing a cautious return of investor interest. However, it’s crucial to monitor how these inflows evolve over time, as they could either signal the beginning of a new trend or be a temporary blip in the broader landscape of crypto investment trends.

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