Musk’s alleged price manipulation, the Satoshi AI chatbot and more
Top Stories This Week
Dogecoin investors accuse Elon Musk of insider trading in amended class-action lawsuit
A group of Dogecoin investors has requested leave to amend a class-action lawsuit against tech entrepreneur Elon Musk, alleging he is responsible for insider trading of DOGE and asserting the token is a security under U.S. Securities and Exchange Commission regulations. According to the complaint, Musk profited off DOGE trading at the expense of other investors by causing the price of the token to spike through actions including changing Twitter’s logo to the Dogecoin logo. As one of the world’s richest people, the Twitter CEO has made frequent statements about Dogecoin to his millions of followers since 2019, often causing the price of the token to surge.
Satoshi Nak-AI-moto: Bitcoin’s creator has become an AI chatbot
Satoshi Nakamoto may have effectively disappeared over 12 years ago, but two artificial intelligence dabblers are seeking to revive the ability to chat with the famed Bitcoin creator. The model, essentially, is OpenAI’s ChatGPT trained on a limited data set, including Nakamoto’s public emails and forum posts, as well as other Bitcoin sources. In testing, the chatbot generates responses that are typically uncertain of the future of fiat currencies and hopeful about Bitcoin. Its goal is to show that AI tools could potentially be used in education, one of the creators said.
Buying a bank won’t solve crypto’s debanking issue — Binance CEO
Binance CEO Changpeng “CZ” Zhao has considered acquiring a bank amid the ongoing debanking of crypto firms across the globe. However, according to CZ, regulatory complexity and capital requirements make it unwise for Binance. “The reality is much more complex than the concept,” said the crypto executive. Binance has recently lost its fiat on-ramp and off-ramp partner in Australia — after difficulties finding a bank partner in the United States earlier this year. The company has been seeking a new payment provider in the country.
Crypto.com has been granted a major payment institution license for digital payment token (DPT) services in Singapore. With the license, the crypto exchange is now authorized to offer its DPT services to customers in the country. The latest announcement adds to Crypto.com’s track record of securing regulatory licenses. The exchange has also been granted registration and/or licenses in France, the United Kingdom, Dubai, South Korea, Australia, Italy, Greece and Cyprus..
Web3 developer Magic raises $52M in funding led by PayPal Ventures
Wallet-as-a-service provider Magic raised $52 million in a strategic funding round led by PayPal Ventures. The funding round also saw participation from venture firms Cherubic, Synchrony, KX, Northzone and Volt Capital, bringing Magic’s total funds raised to over $80 million. Magic’s software is currently used by brands in retail, music, fashion and gaming, including Mattel, Macy’s, Xsolla and Immutable. Founded in 2020, Magic has generated over 20 million unique wallets to date.
Winners and Losers
At the end of the week, Bitcoin (BTC) is at $27,160, Ether (ETH) at $1,903 and XRP at $0.52. The total market cap is at $1.15 trillion, according to CoinMarketCap.
Among the biggest 100 cryptocurrencies, the top three altcoin gainers of the week are Injective (INJ) at 22.67%, Quant (QNT) at 18.60% XDC Network (XDC) at 15.92%.
The top three altcoin losers of the week are Pepe (PEPE) at -14.26%, Kava (KAVA) at -11.13% and Flare (FLR) at -10.80%.
For more info on crypto prices, make sure to read Cointelegraph’s market analysis.
Read also
Most Memorable Quotations
“The bear phase is finished. […] I think we’ll see new highs probably in the second half of 2024, 2025. […] We’ll probably hit up to 6-to-8 trillion [in market capitalization].”
Dan Tapiero, founder of 10T Holdings and 1RoundTable Partners
“Are the creators of the AI responsible for creating the tool that’s used to infringe copyright, or is it the people who are actually using that to infringe on copyright?”
Andrew Petale, trademarks attorney at Y Intellectual Property
“The debt ceiling deal once again highlights Bitcoin’s utility because it’s essentially a break away from the traditional financial system.”
Josh Gilbert, market analyst at eToro
“Even though Ethereum doesn’t have the biggest market cap compared to Bitcoin, I think Ethereum is the front-runner in terms of driving worldwide adoption.”
Roger Ver, early Bitcoin investor and Bitcoin Cash advocate
“Crypto, like the internet before it, has the potential to modernize finance and numerous other sectors, […] by offering a faster, cheaper, more private, and accessible platform.”
Brian Armstrong, CEO of Coinbase
“By combining the power of cryptography with the power of a decentralized crypto network like Bitcoin, we can bring cost and consequence into cyberspace.”
Michael Saylor, executive chairman of MicroStrategy
Prediction of the Week
Bitcoin wicks down to $26.5K, but trader eyes chance for ‘bullish surprise’
On Bitstamp, the BTC/USD pair reached a low of $26,519 this week, showing little signs of a trend change as a stalemate between bulls and bears continued to produce little volatility.
Analyzing the current setup, pseudonymous trader Crypto Ed considered the potential for upside topping out at $27,500. “I do think we go down, but as long as we do not break that $26,000, there is a chance for a bullish surprise,” he said.
To break the current impasse, Crypto Ed continued, Bitcoin would nonetheless need to tackle the area above $27,600. “Now I think we bounce back toward $27,500 — resistance of the previous range high — and from there I will be looking for, possibly, shorts toward $25,000,” he said.
FUD of the Week
Missing ‘Bitcoin Millionaire’ and ONFO coin co-creator found dead
The co-founder of crypto project ONFO coin has been found dead from an apparent gunshot wound about a week after he went missing. John Forsyth, a crypto advocate and emergency room doctor, was reported missing by relatives after not showing up to his shift in a hospital in Missouri. The ONFO coin project allows users to earn coins by referring others to the platform, a term it calls “network mining.” Forsyth joins a list of crypto advocates and founders that have died under mysterious circumstances.
Jimbos Protocol offers $800K bounty to the public after hacker ignores deal
DeFi platform Jimbos Protocol has offered 10% of the exploited funds to the general public after giving the hacker several days to respond to the deal. The Arbitrum-based DeFi app was exploited on May 28 through a lack of slippage control on liquidity conversions, allowing the exploiter to seize assets worth about $7.5 million. The team behind the exploited protocol attempted to negotiate with the hacker offering a “fast $800k payday” in exchange for the return of 90% of the funds. Now, the protocol has extended the bounty offer to the general public.
Multichain team cannot locate CEO, halts service for affected chains
Cross-chain protocol Multichain revealed that its team has been unable to contact its CEO, Zhaojun, fueling rumors that the protocol’s leadership may have been arrested in China amid ongoing technical issues. The protocol has experienced technical problems over the past week, with transactions delayed across multiple cross-chain bridges. After failing to contact the CEO and lacking permission to address the issue, the team suspended services for over 10 chains on May 31, including KeKchain, Public Mint, DynoChain, Redlight Chain, Dexit, Ekta, High Performance Blockchain, Onus, Omax, Findora and Planq.
Best Cointelegraph Features
Bitcoin is on a collision course with ‘Net Zero’ promises
Every year countries are pressured to ramp up their climate change commitments at the COP conference — and Bitcoin mining is an easy target.
Mad scientist’s NFTs degrade when they’re traded: 0xDEAFBEEF, NFT Creator
Self-proclaimed tinkerer 0xDEAFBEEF has hit it big with audiovisual NFTs that slowly degrade in quality every time they’re traded.
AI Eye: 25K traders bet on ChatGPT’s stock picks, AI sucks at dice throws, and more
Decentralized ledger technology is arguably everything that AI is not: transparent, traceable, trustworthy and tamper-free. Could it offset the opaqueness of AI’s black-box solutions?
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Rapid growth in DeFi-focused Ethereum liquid staking derivatives platforms raises eyebrows
Ether’s (ETH) DeFi activity has declined in the bear market and the sector faces further competition from Ethereum’s annual staking reward of 4%, according to Glassnode analysts. However, a DeFi narrative is building around liquid staking derivative (LSD) tokens that could revive Ethereum’s network activity.
The percentage of gas consumed by DeFi protocols has dropped from 34% in 2020 to 8% to 16% presently, with NFTs commanding the maximum share of 25% to 30%, according to a recent report from Glassnode.
Glassnode’s supply-weighted price index for DeFi, priced in USD and ETH, recorded a 90% loss since early 2021.
The so-called DeFi “Blue-Chips,” which represents a basket of governance tokens from well known DeFi protocols like Uniswap (UNI), MakerDAO (MKR), Aave (AAVE), Compound (COMP), Balancer (BAL) and SushiSwap (SUSHI), have lost 88% of their market capitalization from the all-time highs of $45 billion in May 2021.
The DeFi blue chip tokens have underperformed ETH during bullish market rallies and experienced a more severe drop than ETH “on the downside during the bear.” The analysts predict that since staking of ETH now yields 4%, it will act as a “new hurdle rate over which token returns must jump.” This yield represents the benchmark rate for ether investors.
Currently, leading lending protocols like Aave and Compound offer between 2-3% yields on lending stablecoins and ether. Moreover, DeFi protocols like Aave and Compound also come with smart contract risk which is eliminated with proof-of-stake (PoS) validators.
Staking has become popular among Ethereum investors, especially after the Shapella upgrade in April 2023, which enabled redemptions from the staking contract.
By the end of May, Ethereum users staked 21.63 million ETH worth $40.021 billion, representing 18% of Ethereum’s total supply.
LSD platforms like Lido and Rocket Pool account for one third of this massive market. These applications offer tokenized representation of staked ETH, allowing investors access to the staking yields without compromising liquidity.
A growing trend among Ethereum investors is interacting with LSD-fi or LSD financialization, which aims to put the liquidity offered by the LSD tokens to use in DeFi applications.
Related: LSD for DeFi: Tenet, LayerZero partner to drive cross-chain liquid staking adoption
Is LSDfi the solution?
Essentially, LSDfi leverages the liquidity of LSD tokens into DeFi like lending protocols and liquidity on exchanges for higher yields. Given that a considerable amount of ETH is staked with the LSD platforms, LSDfi has the potential to revive DeFi activity.
A Dune analytics dashboard by data analyst Defimochi shows the total value locked (TVL) in LSDfi protocols has touched $411 million, rising exponentially since mid-May. Some of the popular names in the sector are Pendle Finance, Lybra Finance, Curve Finance and Alchemix Protocol.
The liquidity of LSD tokens on Curve Finance, the largest stablecoin exchange in the market, has surpassed $1.5 billion. Curve also enabled minting of its over-collateralized stablecoin crvUSD using Frax Protocol’s staked-ETH token sfrxETH as collateral.
Relatively new protocols like Lybra Finance and Pendle Finance which are looking to leverage the liquidity provided by LSD tokens have also become popular.
As it has happened before with DeFi, newer applications will likely tap the liquidity of LSD tokens by facilitating liquidity mining of their governance tokens for early depositors.
While these can bring decent gains for some users, these protocols could carry smart contract risks and the chance of getting rug pulled, introducing the risks that come with the higher gains that LSDfi provides.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.
Renowned Lawyer Anticipates Ripple IPO to Hit $100B Valuation After SEC Case is Over
As the protracted legal skirmish with the U.S. Securities and Exchange Commission (SEC) draws to a close, Ripple, a leading player in the crypto world, is creating waves of excitement in the financial community.
Ripple’s IPO Could Be Valued At $100 Billion
The prospect of the firm’s initial public offering (IPO) has ignited a fervent discussion, with renowned attorney and XRP enthusiast John Deaton providing insightful commentary during a recent conversation on Good Morning Crypto.
Before the SEC lawsuit was initiated, Ripple was already paving the way toward an IPO. According to Deaton, should the company prevail over the SEC, an IPO is not only foreseeable but could materialize within the next twelve months.
Ripple’s internal worth was pegged at $15 billion when it repurchased shares from its third series of investors. This estimate hinged on Ripple’s possession of 45 billion XRP tokens. Deaton conjectured that should the value of XRP rise to $2 per token, Ripple could see its valuation skyrocket to a staggering $100 billion.
This would propel Ripple to overtake the current market valuation of Coinbase, presently standing at $15 billion. In Deaton’s perspective, Coinbase’s valuation is underestimated, partially due to the regulatory opacity that looms over the cryptocurrency marketplace.
Legal Quandaries and Market Influences
Jeremy Hogan, another respected lawyer who has shown support for Ripple, emphasized the importance of addressing the controversial “secondary market sales” of XRP within the context of Ripple’s legal faceoff with the SEC.
Hogan underscored the crucial need to clarify XRP’s classification—whether it’s inherently a security—as this determination will inevitably impact XRP’s potential re-enlistment on exchanges and, ultimately, the lawsuit’s final verdict.
Despite the fact that the plaintiff didn’t expressly broach the issue of securities, Hogan suggests that various scenarios could illuminate secondary sales issues and sway the judge’s ruling.
In a recent ruling, the U.S. District Court for the Southern District of New York sided with Ripple Labs regarding a dispute over documents and emails linked to the so-called Hinman speech. This event is speculated to have prompted the SEC to adjust its public speech disclaimer, clarifying that comments made by officials represent their official roles.
Injective (INJ) Price All Set For Massive Surge in Coming Days
A highly regarded crypto expert has recently highlighted an Ethereum-based altcoin, Injective (INJ), as showing promising indications of a bullish trend when compared to both the US Dollar and Bitcoin. The analyst, known by the pseudonym Kaleo, predicts a strong performance for the decentralized derivatives exchange.
Spotlight on Injective
In a recent analysis, Kaleo drew attention to a potentially successful retest of a diagonal resistance for the INJ/BTC pairing, noting the altcoin’s increasing strength against Bitcoin. In his words, “I’m long here.” Subsequently, he updated his perspective, speculating that a slight consolidation might be in order following a rally to a peak of 0.0003031 BTC ($8.23). “Wouldn’t be surprised to see a bit of accumulation here before a continuation higher,” he added.
Strong US Dollar Performance
Kaleo also expressed optimism about the performance of Injective against the US Dollar. He pointed out that the INJ/USD pairing seemed poised for growth after breaching its diagonal resistance and subsequently retesting it as a support. He underscored his confidence by saying, “INJ/USD chart looks great as well.”
A Rising Star: The Injective Protocol
Injective Protocol, a leading blockchain platform dedicated to decentralized applications (dApps), has gained significant traction due to the notable surge in the value of its native token, INJ. Over the last week, INJ has seen an impressive growth rate of 23%, reflecting increasing market interest.
INJ token serves a dual-purpose role, offering users utility within the platform while simultaneously giving them influence over the platform’s future via governance mechanisms.
Current Market Position and Outlook
At present, INJ trades at $7.82, despite a minor intra-day decrease of 2.9%. Nonetheless, its week-long upward trajectory has seen it gain 23%. This rise is complemented by a circulating supply of $100 million, aiding in the platform’s liquidity and shaping market dynamics. The positive market sentiment and high Total Value Locked (TVL) are seen as key drivers for the recent price spike of Injective.
As DigiToads is On Track to Raise $5 Million in Presale, Aave and Polkadot Struggle for New Investors
DigiToads (TOADS) steps up its game as a new meme coin project by raising more than $4.4M in presale funds.
Today’s crypto world is flooded with endless crypto assets, introducing investors to new investment opportunities every passing day. However, not every project manages to gather the attention and earn the trust of its investors in the competitive market. Yet, even after projects win their investor’s trust with their promising approaches and early profit returns, some projects struggle in the long run due to growing competition. Aave and Polkadot are among these projects that recorded great but eventually began to struggle in the volatile market.
DigiToads, conversely, is a meme coin project that has already won investors’ trust by raising more than 4.4M in presale and that figure is projected to keep on rising.
What Backs DigiToads in the Journey of Raising $5M in Presale?
Despite being a newcomer, DigiToads is on its way to becoming the best cryptocurrency project which has already raised more than 4.4M in funds. Currently, the project’s native token is valued at a meager price of 0.036 USD. The project’s successful presale statistics, which has already reached its Lilypad 7 presale stage, has now made it to the top ICO list for selling more than 97% of its allotted presale tokens out of the total 585M $TOADS. This early success and fast-selling out even before the TOADS official listing made DigiToads the best crypto to buy for stable market growth in 2023.
What backs up this project as a meme coin with stable market growth is the practical utilities and exciting features that come along with investing in $TOADS. The primary feature of this project that has won investors’ and community’s trust is its captivating play-2-earn game called ‘Toad-Cade. With unique gameplay, the project allows players to collect, feed, and train unique digital toads with different qualities, strengths, and weaknesses.
Besides gaining popularity in the Web 3.0 gaming world with the immersive Toad-Cade, DigiToads has also gained market traction for being the best NFT project. With its NFT collection set to launch during the ongoing presale period, the project will allow its NFT holders to seek various earning opportunities.
From claiming profit returns by selling or trading NFTs once their value hikes, to staking the NFTs on the platform to contribute to its increasing value, DigiToads NFT collection can do all that. Moreover, participating in the Toad School through the project’s NFTs allows holders to learn to trade from the industry’s best players and put their skills to action in its upcoming exchange, ‘The Trading Post.’
Aave:
Aave, the dominant decentralized borrowing and lending platform, recorded 4,000 daily users on average in 2022, putting it ahead of its competitors. However, this year has seen a dip in user activity on the network, making AAVE witness a constant struggle.
Polkadot:
Polkadot (DOT) is a well-known cryptocurrency focusing on scalability and interoperability. DOT, founded by Gavin Wood, one of Ethereum’s co-founders, promises to alleviate the limits of traditional blockchains by allowing various blockchains to interoperate easily. Despite its solutions, DOT’s price analysis in the crypto market suggests that the cryptocurrency has been rather unstable lately.
Conclusion:
Aave and Polygon are among the best crypto projects that had a great start due to their promising features but eventually struggled as new projects entered the market. DigiToads, a similar newcomer in the meme coin industry, has outperformed most competitors in introducing practical earning features for investors.
This meme coin consistently shows stable market growth as the project sells more than 294,546,410 TOADS out of the allotted 405.35M tokens for presale and community bonuses.
For more information on DigiToads visit the website, join the presale or join the community for regular updates.
Experts Believe Ripple Vs SEC Lawsuit Will End In June: Decoding The Possibility
Anticipation is high in the cryptocurrency community, as several experts, including Ripple CEO Brad Garlinghouse, believe the lawsuit against the firm by the United States Securities and Exchange Commission (SEC) could conclude this month.
Experts Expect Lawsuit to Be Over In June
Speaking at the recent Redefine Tomorrow 2023 summit, Garlinghouse hinted that a final verdict could be forthcoming in the near term. The conversation at the summit didn’t dive too deeply into the complex intricacies of the lawsuit. However, his optimism was palpable. He expressed high confidence in a favorable outcome arriving “in weeks, not months,” further igniting speculations about an imminent resolution.
Garlinghouse’s sentiment was echoed across social media platforms and YouTube channels that closely follow cryptocurrency updates. Altcoin Daily, a highly regarded figure in the crypto-sphere, reiterated the buzz around the potential conclusion of the lawsuit this month.
Moreover, in one of his spontaneous Q&A sessions on May 31, Charles Hoskinson, the co-founder of both Ethereum and Cardano, also weighed in on the matter. Hoskinson suggested that the lawsuit’s closure could indeed occur in June, responding to a viewer’s inquiry about the expected timeline of the dispute.
The Same Echoes in the XRP Community
Ashley Prosper, an active participant in the XRP community, laid out a number of events that seem to bolster the belief of a swift resolution. Prosper pointed out Garlinghouse’s optimistic prediction of the lawsuit’s timeline and some suggestive social media interactions.
She also brought attention to Ripple’s recent acquisition of Metaco, a custody service provider, which drew applause from Nasdaq. With Ripple launching its Central Bank Digital Currency (CBDC) platform and establishing a partnership with Tranglo, a renowned remittance service provider in UAE, the company’s progress seems undeterred by the ongoing lawsuit. These advancements, Prosper argues, are not indicative of a firm on the brink of losing a significant legal battle.
Wrapping up her observations, Prosper humorously remarked, “All we need now is for Jim Cramer to come out and say the Ripple case will never end in June.” Jim Cramer, the host of CNBC’s Mad Money, is often ironically recognized for his contrarian recommendations.
Bitcoin Live News: What’s Ahead For BTC Price in June?
In a recent analysis by TechnicalRoundup, the current state of Bitcoin (BTC) was discussed. His in-depth review revealed a prolonged market stagnation, with the key resistance and support levels still persisting.
A Prolonged Stagnation in Sight?
Analyst suggests that the month’s close revealed little to no significant changes in market structure. The market seems to be stuck within the $20,000 to $35,000 range with no imminent signs of a breakout.
A visible “spike and close above” argument, which might indicate an upcoming shift, is currently absent from the timeframes. It is anticipated that until the market breaks out from this range, there might not be a substantial recovery.
The analyst also expressed concerns that the market could enter a new range with continuous monthly candles, potentially leading to a prolonged stagnation period. This stagnation, dubbed as “multi-month diddling,” might result in significant losses for traders who are not cautious.
Navigating the ‘Choppy’ Market
Although the cryptocurrency market has historically been volatile, the current situation is described as particularly “choppy”. Even the higher timeframes, such as the weekly and monthly, aren’t spared from this rough trend, making it difficult to establish a directional bias. The prevailing theme seems to be a lack of follow-through on the bearish side, but this hasn’t done much to invigorate the bullish traders.
The current market condition necessitates a careful approach when setting up trades. The $27.5k level was identified as a critical line in the sand for Bitcoin. A close below this could signal a bearish trend, further complicating the already complex market scenario.
Nevertheless, the daily timeframe remains crucial in this choppy market condition. This is where most of the work has to be done, especially as the volatility becomes more constricted. However, the daily timeframe has also presented a number of fakeout signals since the range started at the end of March, requiring traders to remain vigilant.
At press time, BTC was worth $27,166.
Bloomberg Forecasts Impending Crypto Market Crash in June Amidst Debt Ceiling Saga
In a startling revelation, Bloomberg has issued a warning about an impending crash in Bitcoin and other cryptocurrencies set to unfold in June. The alarm bell has been rung as the US Treasury Department prepares to issue over $1 trillion in treasury bills following the recently passed debt ceiling deal.
Concerns Emerge as Positive Sentiments Fade
Initially, the markets rejoiced after the US House and Senate successfully passed the Biden-McCarthy Debt Ceiling Deal. This positive development, combined with the possibility of the US Federal Reserve postponing an interest rate hike in June, led to an upswing in global stock and crypto markets. The Dow Jones skyrocketed by 2.1%, the S&P 500 surged by 1.4%, and the Nasdaq surpassed its April 2022 highs by nearly 1%. However, this newfound optimism might be short-lived, especially for riskier assets like cryptocurrencies.
Bleak future ahead for BTC & ETH?
Challenges lie ahead, with the US Treasury Department’s plan to replenish its depleted cash balance through the issuance of an estimated $1 trillion in Treasury bills post the debt ceiling deal. Experts at Citigroup foresee a bleak outlook for Bitcoin (BTC) and Ethereum (ETH) shortly, as the Treasury General Account’s cash reserves dwindled to a mere $22.89 billion on June 1, plunging from $635.99 billion in March. This move is expected to result in heightened volatility and weaker returns in the crypto market, raising the specter of a potential recession due to the drain of US dollar liquidity.
Bitcoin’s Support Level
Fiona Cincotta, the senior market analyst at City Index, emphasized the criticality of Bitcoin’s support level, indicating that any breach below $25,000 could trigger a crash. Cincotta believes that the uncertain macro backdrop, coupled with recessionary fears, poses a challenge to Bitcoin’s performance. She suggests that a dovish pivot from the Federal Reserve might be the catalyst needed for Bitcoin to make a substantial upward move.
Bitcoin and Ethereum Face Risk and Stagnant Prices
Notably, Bitcoin and Ethereum prices have stagnated due to macroeconomic issues, regulatory barriers, and lackluster technical charts. Bitcoin’s price is close to falling below the 200-weekly moving average (WMA). US treasuries and the dollar have gained momentum, with the DXY index rising above 104. The Senate’s acceptance of the debt ceiling accord paved the path for President Biden’s June 3 signature.
Presently, Bitcoin is trading around $27,150 is on the sideways, while Ethereum briefly exceeded $1,900 but remains under selling pressure.
As the crypto markets prepare for a meltdown, all eyes are on the debt ceiling crisis, cash reserves, and market liquidity.
FTX’s $3.9B Claim Sparks Major Crypto Clash – Prepare for the Unexpected?
FTX Trading Ltd. and its affiliates, prominent creditors of the bankrupt crypto lender Genesis Global Holdco, aren’t entirely happy about extending court-mediated settlement talks. So, what’s behind this escalating drama?
Invitation Not Received: FTX Expresses Discontent
Claiming major credit from Genesis, FTX announced it had been left out of the court-appointed mediation held in May. This mediation involved Genesis, Digital Currency Group (its parent company), and other creditors like Gemini Trust Co.
Genesis’ recent filing threw FTX a curveball, estimating its unliquidated claims at zero, while FTX asserts a staggering $3.9 billion. Genesis argues that dismissing FTX’s claims is key for swift creditor distributions and a prompt Chapter 11 confirmation. Could this tussle throw a wrench in the settlement process?
The Mediation Puzzle: Adding More Pieces
FTX’s objection adds another layer of complexity to the ongoing settlement saga involving DCG, Genesis, and its creditors. Genesis’ intention to extend talks until June 16 met with opposition from FTX and several other creditors.
FTX argues its exclusion renders the mediation process pointless, labeling it a “waste of estate resources.” So, should the process continue without FTX’s involvement, or is this dispute an insurmountable obstacle?
A Frustrated Creditors’ Cry for Progress
The delay in reaching a final settlement agreement is straining creditors’ patience. With Genesis’ bankruptcy filed in January, individual creditors are growing wary of the prolonged mediation process. Are these delays merely delay tactics?
Amidst the uncertain progress of mediated settlement talks, Gemini and DCG have begun crafting alternative strategies. While DCG seeks additional financing, Gemini collaborates with key creditors for a potential reorganization plan. But can these plans save the day if mediation fails?
Legal Looms: SEC Lawsuit Adds to the Chaos
Genesis and Gemini, facing an SEC lawsuit over the ‘Earn’ program, recently sought dismissal. But with hundreds of thousands of Gemini’s customers demanding a return of some $900 million, how will this legal battle impact the ongoing mediation efforts?
As we watch this high-stakes drama unfold, it’s clear that the road to resolution is far from smooth. One thing is sure – the conclusion will be a landmark moment in the crypto world, potentially reshaping the landscape for crypto lenders.
Also, read – Crypto Giant’s Revenge: SEC vs Gemini! Shocking Stakes!
Synthetix Volume Surges As SNX Burn Is Proposed
Synthetix has experienced a surge in trading volume following a new proposal that suggests the burning of its SNX tokens. This development has sparked discussions, and some crypto watchers suggest a potential impact on the future of AI cryptocurrencies. Could Synthetix’s proposed token burn pave the way for enhanced support and trading opportunities for AI-based assets?
What is Synthetix?
Synthetix is a decentralized finance (DeFi) protocol that operates on the Ethereum blockchain. It aims to revolutionize the traditional financial system by providing a platform for creating and trading synthetic assets, or “synths,” which are digital representations of real-world assets like currencies. Synthetix enables users to gain exposure to these assets without needing to actually own them, thereby allowing for diverse investment opportunities and mitigating traditional market barriers.
The Synthetix Network Token (SNX) is the native utility token of the platform. SNX holders can stake their tokens as collateral to mint and manage synths, earning fees and rewards in return. SNX also plays a crucial role in the protocol’s governance, enabling token holders to participate in the decision-making process for upgrades and changes to the network.
Synthetix is considering a proposal from its founder, Kain Warwick, that would lead to the burning of a significant portion of the SNX token supply. And although Synthetix requires inflation for incentives and liquidity, Warwick believes implementing a buy-and-burn feature could be beneficial. However, the concept is still in the early stages and requires a vote by the Treasury Council for confirmation.
Avorak AI (AVRK): The best AI crypto for Synthetix?
Avorak AI is an exceptional AI crypto platform that stands out due to its pioneering approach. The platform offers users the ability to optimize their business and individual operations efficiently with a diverse range of AI-driven solutions. Avorak can be used for image and video editing, command-line trading, image generation, text creation, security, online shopping, trading, and more.
Avorak’s first-to-market approach grants its users unparalleled advantages, empowering them to succeed immediately. For example, there’s a need for images that fit exact specifications. And Avorak employs a pure language-to-image process for image creation, avoiding unethical practices associated with image scraping and guaranteeing unlimited output of images that align with the querying user’s needs. Similarly, in text generation, Avorak assures high-quality and non-plagiarised texts in any format or writing style through a combination of several mechanisms, including a prewritten language repository and plagiarism-detecting APIs.
The native token of the Avorak AI ecosystem, AVRK, serves as credit for accessing its services. AVRK performs other utility functions within the ecosystem, and its holders share in the profits made by Avorak’s AI services. Users can trade or stake their AVRK tokens to earn additional profits. AVRK is currently priced at $0.255 in phase 7 of Avorak’s Initial Coin Offering (ICO), with investors at this level receiving a 4% bonus and other ICO benefits. Analysts like Goalorious believe Avorak’s competitive advantages position it for tremendous success.
Conclusion
As Synthetix continues to grow and attract attention in the crypto space, it could support AI cryptos in the not-so-distant future, providing a foundation for creating and trading synthetic AI-based assets that offer investors exposure to the rapidly evolving field of artificial intelligence. Avorak AI (AVRK) emerges as a formidable candidate to spearhead this revolutionary addition.
For more information on Avorak AI:
Website: https://avorak.ai
Buy AVRK: https://invest.avorak.ai/register
This Revolutionary AI Project Breaks Records During Its Presale. Could It Surpass Fetch (FET)?
InQubeta, the revolutionary AI project, has taken the crypto world by storm, setting new records during its presale and capturing the attention of investors and enthusiasts alike. Since the launch of its presale, InQubeta has raised over $240,000 in just a few weeks, a remarkable achievement that has placed it at the forefront of the industry.
The buzz surrounding InQubeta is palpable, with discussions about its potential and future prospects permeating the crypto community. Given its current trajectory and market sentiment, analysts have predicted that the token could reach more than 30 times its original value in 2024. This forecast and the project’s innovative approach and growing community position InQubeta as a frontrunner in the AI and blockchain sectors.
Analysts have been closely monitoring InQubeta’s trajectory, and many have made bold predictions about its growth potential. With its innovative approach to combining AI and blockchain, InQubeta has the potential to surpass even well-established projects like Fetch.ai (FET) in terms of value and market performance.
Here are four compelling reasons why InQubeta could surpass Fetch.ai:
1. Unique Value Proposition: InQubeta brings together the power of AI and blockchain groundbreakingly. By leveraging NFTs and tokens, InQubeta provides a crowdfunding model that allows investors to support AI startup projects. This unique value proposition has garnered significant attention and positions InQubeta as a leader in the AI sector.
2. Strong Community Support: InQubeta has quickly amassed a strong and dedicated community of supporters who believe in the project’s vision and potential. The community’s enthusiasm and active engagement can be seen through the successful presale and ongoing discussions on social media platforms and crypto forums. This level of community support is a crucial factor in driving the success of any project.
3. Audited Security and Transparency: InQubeta strongly emphasises security and transparency. The project’s smart contracts and codes have been audited by reputable firms, such as Hacken and Block Audit, ensuring that investors can have confidence in the integrity of the platform. This commitment to security and transparency sets InQubeta apart and instills trust among investors.
4. Forward-Thinking Roadmap: InQubeta has a clear roadmap for its future development. The project plans to expand its NFT marketplace, introduce new features, and forge strategic partnerships to enhance its ecosystem. This forward-thinking approach demonstrates InQubeta’s commitment to continuous growth and innovation.
Don’t Miss Out On InQubeta Presale
The InQubeta presale presents an incredible opportunity for investors to get involved in this groundbreaking AI project and acquire QUBE tokens. Participating in the presale offers numerous benefits that should not be missed.
One of the key advantages of the InQubeta presale is its accessibility. With a minimum investment requirement of only $50, it provides an ideal entry point for new investors looking to dip their toes into crypto. This low barrier to entry allows individuals with varying budgets to participate and potentially reap the rewards of InQubeta’s success.
The InQubeta presale accepts popular cryptocurrencies like Bitcoin, Ethereum, and USDT as payment options. This flexibility allows investors to utilize their existing holdings and participate in the presale without the need to convert their assets, simplifying the investment process.
InQubeta’s future plans include the launch of a staking dapp, which further enhances the attractiveness of participating in the presale. Through this staking mechanism, QUBE token holders can lock their assets and earn rewards in return. Staking provides an opportunity to generate passive income and benefit from the growth of the InQubeta ecosystem.
Bottom Line
While Fetch.ai has made significant strides in the AI and blockchain space, InQubeta possesses unique qualities that could propel it to surpass Fetch.ai’s success. With its impressive presale results, strong community support, audited security measures, and a forward-thinking roadmap, InQubeta is poised for remarkable growth in the coming years.
Is XRP Really a Security? Top Lawyers Clash in Fierce Debate
The post Is XRP Really a Security? Top Lawyers Clash in Fierce Debate appeared first on Coinpedia Fintech News
As the Ripple lawsuit nears its conclusion, a burning question ignites the conversation among legal experts: Is XRP a security? In a recent debate, Australian lawyer Bill Morgan throws fuel on the fire, mentioning XRP burns to challenge the notion that all XRP-related transactions are securities. But what was the counter-argument?
Marc Fagel: A Former SEC Lawyer Weighs In
Marc Fagel, a former SEC lawyer, joined the conversation, firing off a response to Morgan’s statement. According to Fagel, for liability to be found, the ‘instrument’ in question must be a security based on its offer and sale. The debate heats up – how does the Securities Act fit into this picture?
Does the Securities Act Hold the Key?
Fagel points to Section 5 of the Securities Act, which mandates the registration of a security sale. But Attorney Morgan was quick to rebut, arguing that the ‘instrument’ on a native Layer-1 (L1) blockchain, like the XRP Ledger, bears no relation to investing. What does this mean for L1 crypto assets?
Morgan maintains that L1 crypto assets primarily serve to pay transaction fees or reward network validators. These assets, he argues, aren’t necessarily offered by issuers – a fact that challenges the SEC’s stance. But the plot thickens – what about XRP’s utility?
The Utility of XRP: A Hotly Contested Issue
Despite the SEC acknowledging the utility aspect of XRP in the ongoing Ripple lawsuit, it still argued that XRP utility is limited. Morgan, however, presents a personal anecdote about using XRP to purchase a cap – a transaction that resulted in a minor ‘burn’ of XRP. But what exactly is this ‘burn’ and how does it relate to the security debate?
Following his purchase, Morgan revealed that a fraction of the XRP he used was ‘burned’. He insists that such a minuscule amount of burned XRP – less than a cent – could hardly be considered a security. How does this tie into the broader XRP ecosystem?
The XRP Ledger Burn Mechanism: A Security Deterrent?
The XRP Ledger operates a burn mechanism, burning all XRP gathered as fees. This mechanism wasn’t established to boost XRP’s price via scarcity but to combat spam transactions and maintain network security. As the debate simmers, one question remains: Will this be enough to tilt the scales in Ripple’s favor?
As we watch the ripple effects of this debate, one thing is clear – the Ripple lawsuit’s conclusion will shape the crypto landscape for years to come.
Also Read – Ripple News: XRP Takes the Lead, Surpasses Bitcoin by a Stunning 30%
Centralized Exchange Volume Hits Rock Bottom, Decentralization Gains Prominence
In a noteworthy development for the cryptocurrency market, the trading volume of centralized exchanges experienced a substantial decline in May 2023, reaching its lowest point since October 2020. According to data from The Block, this decline amounted to a staggering $440 billion, reflecting a notable 27% decrease from the previous month.
Centralized exchange volume takes a hit, dropping to $440B in May – the lowest since Oct 2020. Trust issues? Volume down 90% from May '21. Shift to decentralized exchanges (DEX) & large firms scaling back contribute to the decline. Stay safe, trade on #DEX! 📉#CryptoExchange #CEX pic.twitter.com/oUiqCR8zl9
— Kiko Silva (@fredericogls) June 2, 2023
What is the reason? How is this going to impact you, the investor? We’ve covered it all. Read on!
Growing Trust Issues
One of the primary factors contributing to this decline is the mounting concern surrounding trust issues associated with centralized exchanges.
The market was shaken when FTX, the second-largest and fastest-growing crypto exchange, suddenly collapsed due to a takeover by its rival Binance. This development followed a pattern seen earlier with the abrupt closures of other prominent crypto firms, including Celsius and Voyager. These struggling companies even resorted to tapping into customer accounts in an effort to stay afloat, further eroding trust in centralized exchanges.
Large Firms Withdraw from Centralized Exchanges
In addition, to trust issues, the withdrawal of large firms from centralized exchanges has also played a role in the overall decline in trading volume. According to a recent report, Binance, the largest cryptocurrency exchange by trading volume, witnessed a significant drop in monthly exchange volume during May, falling by approximately 26% compared to the previous month.
Decentralized Exchanges on the Rise
Amidst the decline in centralized exchanges, a notable trend has emerged: the rise of decentralized exchanges (DEXs) as a viable and attractive option for traders.
Operating on blockchain networks, DEX platforms offer increased security, privacy, and control over funds by enabling users to trade directly with each other, bypassing intermediaries. Data from Dune, an on-chain analytics firm, reveals a surge in the number of users across various DeFi platforms in May 2023, reminiscent of the peak levels witnessed during the bullish phase in 2021.
According to analysis by 🧙♂️ @richardchen39, May has seen 778k unique DeFi users
That's more than any month since December 2021
— Dune (@DuneAnalytics) May 31, 2023
Memecoins Steal The Spotlight
While the user base of decentralized exchanges expanded, the trading volume on DEXs experienced a slight dip in May. Settlements of trades on non-custodial exchanges amounted to $72.4 billion, reflecting a 2% decline from the previous month, as reported by Dune.
It’s important to note, however, that this decline in trading volumes was partially attributed to a higher proportion of low-value transactions, particularly driven by meme-coin trading.
The Future of Centralized Exchanges
As the market adapts to these changing dynamics, it remains to be seen how centralized exchanges will respond to the growing demand for decentralized alternatives and restore faith among traders and investors.
The decline in centralized exchange volume raises important questions about the future direction of the cryptocurrency market and the role that trust, security, and decentralization will play.
Ripple News: XRP Takes the Lead, Surpasses Bitcoin by a Stunning 30%
In the shifting landscape of digital currencies, Ripple’s XRP is currently outshining Bitcoin with an impressive growth trajectory, surging nearly 30% against the crypto world’s firstborn. XRP has resilience amidst a tough market downturn and has the potential for an unprecedented rally against Bitcoin.
XRP: The Unscathed Champion in a Bleak Market
While Bitcoin has borne the brunt of a falling crypto market, XRP has shown remarkable resistance to this downward spiral. The latter has not only held its ground but emerged stronger, exhibiting a 30% gain against Bitcoin over the past few weeks. Surpassing key resistance points, XRP appears primed for a formidable rally, a testament to its ever-growing robustness amidst a challenging market.
Dark Defender, a veteran crypto analyst, recently underscored XRP’s bullish trend, noting that the cryptocurrency had successfully navigated through two significant resistance points against Bitcoin, setting the stage for a possibly game-changing rally.
XRP has cleared 2 #significant resistances at #XRP/#BTC Pair.
We expected a reversal last time and had a bullish monthly candle close in May.
We will see extreme XRP appreciation against BTC very soon.
Examples:
BTC –appreciates to 30k–> XRP appreciates $1.44
BTC… pic.twitter.com/B1ILhOWDZn— Dark Defender (@DefendDark) June 1, 2023
Breaking the Chains of a Long-Term Downtrend
A historical analysis reveals that XRP has been entangled in a downward trendline since May 2017 after plunging from an all-time high of 0.0002401. Fast forward to September 2022, XRP managed to break free from this downward trajectory but continued to grapple with a formidable resistance point. However, a shift occurred last month, with XRP breaking this critical resistance and surging ahead of Bitcoin.
“Extreme XRP appreciation against BTC is imminent,” predicts Dark Defender, painting a scenario where Bitcoin rebounds to the $30K mark. The expert believes that in this context, XRP could surge to a 2-year high of $1.44, surpassing Bitcoin in terms of percentage gains. The potential for XRP to maintain its value, even if Bitcoin falls to $10K, further underscores its resilience.
Looking Back: The Historical Significance of 2017
The current scenario echoes the year 2017 when XRP shattered a similar resistance point and outshone Bitcoin by a whopping 605% within two months. Given this history, many analysts are hopeful of a repeat performance that could propel XRP to new record highs.
Cryptic Poet, a well-known crypto trader, corroborates this bullish outlook for XRP. Pointing to the fact that XRP has outpaced Bitcoin by 30% in the past month, the trader highlights the increasing dominance of XRP in the crypto market.
Supporting this, another crypto analyst, Ryan, pointed out XRP’s strong resistance against market bears compared to Bitcoin since March 2021. Interestingly, while Bitcoin’s value has plummeted by 55% over the last two years, XRP has held its ground, maintaining around the $0.50 mark.
If someone told you in March 2021 when $BTC was $60,000 and $XRP was $0.50.
That in 2023, Bitcoin will be $27,000 and XRP would still be $0.50.
Would you have believed them?
— Crypto Ryan (@CryptoRyan17) May 31, 2023
Signs of an Imminent Rally
The surge in XRP’s daily active addresses on May 28 and May 29 hints at its growing popularity. As of this writing, XRP is trading at $0.5253, up 1.12% in the past 24 hours, while Bitcoin lags behind at $27,175, posting a 0.10% gain during the same period.
And as the saying goes, ‘History tends to repeat itself,’ the crypto community eagerly anticipates if XRP will once again mirror its 2017 triumph.
MoonDAO and Chainlink VRF to Deliver Fair Zero-G Experience, Sparklo Presale Progresses
In an unprecedented move, Chainlink is fuelling lunar dreams with its latest project, MoonDAO. The platform is set to launch a fair Zero-G flight experience, courtesy of Chainlink (LINK) Verifiable Random Function (VRF). This audacious undertaking coincides with the presale of Sparklo (SPRK), a unique platform for investing in precious metals through NFTs. The unfolding developments highlight the broad spectrum of innovation and opportunity within the evolving cryptocurrency landscape.
Steady Advances in Sparklo (SPRK) Presale Unveiled
Sparklo emerges as an innovative, unprecedented platform aiming to transform the way investors approach precious metals online. With Sparklo, investors can own fractions of an NFT, underpinned by the physical asset itself, or, alternatively, buy the complete NFT and claim the physical delivery of the very precious metal.
Currently in its second presale stage, Sparklo, priced at a modest $0.026, presents itself as a promising investment avenue. Top-tier crypto analysts forecast the price to skyrocket by over 1,500% by the end of 2023, marking a significant return for investors.
The platform’s smart contract has received a full safety seal from the Interfi network following a thorough audit. As an added layer of security, the team has pledged to lock the liquidity for an impressive 100 years, effectively eradicating any possibility of a rugpull. A significant amount of research has led us to regard Sparklo as one of the standout investments in 2023. Tokens are available for purchase via the provided links.
Chainlink (LINK) Powers MoonDAO’s Journey: Zero-G Flight Experience Launch Leveraging Chainlink VRF
MoonDAO, an organization devoted to facilitating humanity’s venture into space, has recently integrated Chainlink (LINK) Verifiable Random Function (VRF) into its Ethereum mainnet. Chainlink (LINK) integration aims to ensure a fair and transparent selection process for its latest initiative – a Zero-G flight experience, a rare opportunity to experience weightlessness akin to floating in space. The integration marks the second occasion that MoonDAO has utilized Chainlink (LINK) VRF, an attestation to its trust in the provably fair random selection mechanism offered by Chainlink (LINK).
The exciting Zero-G experience is not the first space adventure orchestrated by MoonDAO in partnership with ‘Space for a Better World.’ In this venture, participants stand a chance to join astronauts Doug Hurley and Nicole Stott in a zero-gravity flight, a thrilling occasion where the lucky winner can truly experience the sensation of space travel. Chainlink (LINK) VRF, with its robust random number generation coupled with a tamper-proof cryptographic proof system, ensures the fairness and transparency of the selection process. Consequently, every entrant has an equal opportunity to win this life-altering adventure.
Find out about the Sparklo presale using the links below:
Buy Presale | Website | Twitter | Telegram
Elon Musk Invites Robert Kennedy Jr. for Twitter Spaces Interview
As we approach the 2024 Presidential elections, the importance of the cryptocurrency market narrative is becoming increasingly important. The current regulatory framework for cryptocurrencies in the United States has received a lot of criticism. This has led the industry to eagerly await a new presidential candidate and government that can provide a stronger and more comprehensive framework.
In the latest news, it has been reported that CZ, the CEO of binance 
binance [email protected] Centralised Exchange 
, openly showed his support for Ron DeSantis, a presidential candidate who is known for being in favor of cryptocurrencies. More recently, elon musk 
elon musk founder, ceo at tesla, spacex Elon Musk is an enthusiastic cryptocurrency believer, quivering the crypto world through his sparkling tweets. He has a complex relationship with cryptocurrencies. His tweets solely are responsible for the crypto volatility. Musk splendidly purchased $1.5 billion in the king of cryptocurrency. He was born on June 28, 1971, and is based in Pretoria, South Africa. His mother is Maye musk and his father is Errol musk, he is a South African electromechanical engineer, pilot, sailor, consultant, and property developer.
He graduated from the University of Pennsylvania, earning a bachelor’s degree in Arts and physics, and the Wharton School, earning a bachelor’s degree in science, and economics. Musk was honored by Axel Springer Award, an annual award given to remarkable personalities who are extremely innovative, build new markets and change markets, shape culture, and confront their social responsibility.
In 1995, Elon Musk and Greg Kouri founded a web software company called ZIP2. The company developed and marketed an Internet city guide for the newspaper publishing industry, with maps, directions, and yellow pages.X.com and PayPal: in 1999, he co-founded X.com which is an online financial service and email payment company. Space X: on 14, March 2002 he founded space x company which provides space transportation services.
On July 1, 2003, he founded TESLA. Tesla is an electrical vehicle and clean energy company which designs and manufactures electric cars, battery energy storage from home to grid-scale, solar panels and solar roof tiles, and so on. His other activities involve SolarCity and Tesla Energy, Neuralink, the boring company, Managerial style and treatment of employee Hyperloop, openAI music, and ventures. Etc. he made $165 by selling PayPal to eBay. And was first listed on the Forbes Billionaires List in 2002, with a total net worth of $2 Billion. [email protected] EntrepreneurInvestorChief Executive Officer 
has invited Robert Kennedy Jr. for an interview on Twitter Spaces. This announcement has generated a lot of excitement within the crypto community.
Musk Invites Kennedy for Twitter Spaces Chat
Elon Musk, the billionaire known for being a Dogecoin enthusiast, has reached out to 2024 presidential candidate Robert F. Kennedy Jr. for an interview on Twitter Spaces. This invitation follows a previous session where the billionaire CEO of Tesla engaged in a conversation with Florida Governor Ron DeSantis, which was seen as a way to launch his own presidential campaign.
Robert F. Kennedy Jr., a presidential candidate seeking the Democratic nomination, has embarked on a challenging campaign. He has caught the attention of the crypto community due to his strong support for Bitcoin. Kennedy Jr.’s outspoken admiration for cryptocurrencies and his vocal critique of government-backed central bank digital currencies (CBDCs) have raised eyebrows within the industry.
Kennedy Jr. has openly expressed his opposition to CBDCs. He has also spoken about his concerns with the government’s potential control and surveillance over US citizens.
Also Read: Economist Predictions: Federal Reserve Signals Pause on Rate Hikes Amid Debt Ceiling Suspension
“That is why I oppose CBDCs, which will vastly magnify the government’s power to suffocate dissent by cutting off access to funds with a keystroke.”
Elon Musk’s Agenda Behind Interviews
Elon Musk, a well-known personality in the crypto community and a vocal supporter of the meme-based cryptocurrency Dogecoin, has shown a strong interest in the upcoming U.S. elections. There are speculations that Musk’s recent invitations for Twitter Spaces interviews with political figures serve as a way for him to improve his public image. By engaging with candidates from both major parties, Musk aims to demonstrate impartiality and portray himself as someone who is open to diverse perspectives.
Would you like to do a Spaces discussion with me next week?
— Elon Musk (@elonmusk) June 2, 2023
Even though the entire crypto community is looking forward to this discussion between Elon Musk and Robert F. Kennedy Jr. there has been no response from either Kennedy or his team.
There is anticipation over this conversation as it may provide more insight into Kennedy Jr.’s Position on digital currencies and its wider implications for the financial system as a whole.
Expect High LTC Price Rally in Months Ahead
The Litecoin (LTC) network has recently experienced a substantial surge in on-chain trading volume, particularly in whale transactions, according to the on-chain analytics platform Santiment. In fact, transaction volume on the Litecoin network has reached a two-year high, indicating a significant increase in market activity. Moreover, whale activity on the network has surged to its highest level since January, reflecting a growing interest in this cryptocurrency.
Litecoin (LTC) Value Rallies
As the third largest proof-of-work secured blockchain, Litecoin currently holds a market capitalization of approximately $6.9 billion. This impressive figure underscores its position as a leading digital asset in the market. Furthermore, over the past twelve months, the underlying value of LTC has rallied by around 50%, demonstrating its potential as an investment option.
Read: Litecoin Halving Event Sparks Frenzy: Here’s What Investors Can Expect
Litecoin Poised For Breakout?
Despite the Litecoin price struggling to surpass the $100 mark for over two years, recent developments suggest a bullish breakout may be on the horizon. The formation of a symmetrical triangle, commonly referred to as a pennant, since February, indicates a potential bullish trend. This optimistic outlook is further supported by the upcoming third halving, known for triggering bullish volatility.
Moreover, the 50 and 200 daily moving averages have acted as a support level in the recent past, following a breakout above $90.
DeFi Chains
While Litecoin boasts deep liquidity and is listed on most regulated centralized exchanges, it still has ground to cover in catching up with leading DeFi chains like Ethereum. The Ethereum ecosystem’s high on-chain activity, fueled by widespread adoption of its smart contract technology, sets a benchmark that Litecoin strives to achieve. However, Litecoin’s long-standing presence in the market positions it as one of the oldest and most trusted digital assets.
Litecoin (LTC) and Chainlink (LINK) Price Eyeing Massive Rally – Right Time To Buy ?
In a recent update, renowned crypto analyst Michaël van de Poppe shared his insights on altcoins on Twitter, focusing specifically on Litecoin (LTC) and Chainlink (LINK). With a significant following on Twitter, van de Poppe offered his perspective on the current state of the altcoin market, highlighting the potential opportunities and price movements that lie ahead.
Altcoin Market’s Crucial Support Levels
According to van de Poppe, the total market capitalization for altcoins is currently experiencing robust support at the 200-week moving average (MA) and the exponential moving average (EMA). These technical indicators suggest that altcoins are poised for a potential upward surge if they can sustain this critical support level. His observation serves as a beacon of hope for altcoin investors, hinting at the possibility of a bullish market in the near future.
Litecoin’s Impending Halving
Moving ahead, van de Poppe specifically analyzed Litecoin (LTC) and its upcoming halving event. The Litecoin halving, which occurs every four years, involves a reduction in the block reward for mining Litecoin. This reduction in supply often leads to an increase in the cryptocurrency’s price.
While analyzing he is clear that Litecoin is currently battling the 200-week MA and EMA, signifying an impending breakout. With Litecoin’s halving expected in August of this year, van de Poppe expresses confidence in the coin’s potential and describes it as “Litecoin looks bueno.” (good) heading into this significant event.
Hence, “If those sustain, a new impulse move to the upside is likely.”
Chainlink: An Opportunity of a Lifetime
Additionally, van de Poppe reiterates his long-standing belief in Chainlink’s (LINK) investment potential. He describes the current price zone between $6-8 as an “opportunity of a lifetime.” This sentiment has been echoed by the analyst since at least February of this year, emphasizing the substantial upside that he sees in Chainlink. With Chainlink trading at $6.39 at the time of writing, van de Poppe’s endorsement carries weight among investors and crypto enthusiasts.
Crypto Market Analysis: This Scenario is Currently Not in Play for Bitcoin and Ethereum
After a turbulent May for crypto investors, the outlook for June is more positive. Investors are hopeful for a stable market that will provide a clear direction for cryptocurrency prices. Analyst Crypto World recently discussed the important levels of Bitcoin and Ethereum in a new YouTube video.
The analyst has observed a falling wedge pattern forming, indicating a potentially bullish pattern. However, there is still a possibility of a downside breakout, although less likely. Confirmation of a breakout above the resistance level at approximately $28,000 or below the support level at around $26,000 is needed for a clearer direction. If an upside breakout occurs, the price target would be around $30,500, but this is not currently in play.
He then moved to the eight-hour Bitcoin chart and said that the price remains in a sideways range between support (approximately $26,100 to $26,500) and resistance (around $27,200 to $27,600). A breakout above the short-term resistance levels would signal bullish price action. At the time of writing, Bitcoin is trying to hold above the $27k level.
Ethereum
The analyst then shifted focus to Ethereum and highlighted that the daily chart shows the price still trading above the support area between $1,770 to $1,820.He said that Ethereum has rebounded from the support range ($1,830 to $1,860) and is testing the descending resistance line around $1,890. A confirmed breakout above $1,890 could lead to resistance levels at approximately $1,920 to $1,950 and $2,000.
The recent bullish divergence resulted in a short-term reset in both the price and RSI as the RSI entered overbought territories. A similar cool-off period could occur in the coming hours or days, followed by another upward movement after a further RSI reset.
Is Bitcoin The Next Apple In The Making? Analyst Draws Parallels
In a series of tweets, Jurrien Timmer, the global macro director at Fidelity Investments, drew parallels between the crypto market and the tech bubble of the late 1990s. Timmer suggests that just as some tech stocks emerged as winners from the dot-com bubble, certain digital assets in the crypto industry will rise while others may fade away.
Note that even stalwarts like Apple suffered a large draw-down when the bubble burst, but recovered to become a dominant force, while so many also-rans fell into oblivion. Time will tell what’s in store for Bitcoin. /6
— Jurrien Timmer (@TimmerFidelity) May 31, 2023
Could Bitcoin be the “Apple” of digital assets, beating the odds and ushering in a new era of dominance? Read on!
The New Apple Of The Crypto World
Timmer specifically highlights Bitcoin (BTC) as a potential “Apple” of the crypto world. He explains that similar to how Apple and Amazon survived and thrived after the tech bubble, Bitcoin could also not only survive but also take market share from other digital assets.
Crypto's boom-bust cycle can be compared to the dot-com bubble of the late 1990s. The internet bubble took many unqualified stocks to astronomical heights, only to see them lose most or all their value when the bubble burst. /3
— Jurrien Timmer (@TimmerFidelity) May 31, 2023
To illustrate his point, Timmer overlays Bitcoin’s current chart with that of Apple’s stock and an internet stock index from two decades ago. The charts seem to exhibit similar price patterns, implying a possible correlation between Bitcoin and the successful trajectory of Apple during the dot-com bubble.
Read: Analyst Predict BTC Price Can Surge 200% Ahead of Bitcoin Halving – Coinpedia Fintech News
A Bumpy Road To Dominance
He further notes that even Apple experienced a significant decline during the bubble burst, but ultimately recovered and became a dominant force in the tech industry. Whether Bitcoin will follow a similar path remains to be seen.
As of the writing, Apple (AAPL), trading at $0.22 in 2002, has risen to $177.25, reflecting a staggering gain of approximately 80,345%.
Below, I show an overlay of Bitcoin today vs. Apple two decades ago (left), and Bitcoin vs the Interactive Internet Index (IIX) on the right. The IIX was a now-defunct index of internet stocks that saw its value come full circle from nothing to bubble back to nothing. /5 pic.twitter.com/GCpoODZKuK
— Jurrien Timmer (@TimmerFidelity) May 31, 2023
Liquidity Crunch Looms: Bloomberg Analyst Predicts Further Decline for Bitcoin
Amidst growing concerns, Bloomberg Intelligence’s senior macro strategist, Mike McGlone, cautions that the worst may not be over for Bitcoin (BTC) as recessionary headwinds could push the cryptocurrency lower.
How recession will hit the entire crypto space, do we see more bloodbaths? Let’s hear McGlone’s version.
Bloomberg Analyst’s Bitcoin Liquidity Forecast
In his latest Crypto Outlook edition, McGlone predicts a liquidity crunch in the second half of 2023, fueled by the anticipated US recession.
McGlone highlights the possibility of a liquidity crunch, indicating that Bitcoin’s current state may not be at its bottom. He suggests that June could either witness a continuation of the first-half rally or roll over into a US recession. With markets appearing to have priced in optimistic outcomes from aggressive central bank rate hikes, McGlone believes the latter scenario is more likely.
First-Half Hope or US Recession?
While recent market bounces have provided some relief, McGlone remains skeptical about their sustainability. He notes the transient nature of the rising Nasdaq 100 Stock Index’s ability to lift all market assets, including Bitcoin. Citing downtrends in the 100-week moving averages of both the stock index and Bitcoin, McGlone questions whether the worst is truly over or if the market should respect the prevailing downward trend.
McGlone’s concerns extend to the broader market, as he emphasizes the potential reversal of liquidity pumps that are still dumping assets. He points to the Federal fund’s futures in one year (FF13) as an indicator of this ongoing dumping. He further suggests that a decline in equities may be necessary for interest rates to fall, reinforcing his perspective on the market’s downward trend.
Bitcoin’s Risky Ride at $7,000?
Having previously warned of Bitcoin potentially dipping as low as $7,000, the analyst reiterates his stance, stating that an expected US recession could further push risk assets, including Bitcoin, downward. He highlights Bitcoin’s high of about $30,000 in 2023, relative to the 100-week mean of around $33,000, suggesting the cryptocurrency may experience gravity from the comfort zone of around $7,000 before the unprecedented liquidity boost of 2020-2021. The impending US recession, which has yet to materialize, could put additional pressure on risk assets.
As of the time of writing, Bitcoin is trading at $27,074, with a marginal increase of 0.7% over the past 24 hours.
The Best Time for Ripple’s IPO: When XRP’s Price is Low
In a surprising twist, renowned financial analyst Linda Jones has suggested that Ripple, the blockchain payment firm, should seize the opportunity to conduct its long-awaited initial public offering (IPO) when the price of its native cryptocurrency XRP is at a low point. Jones argues that this strategic move would prevent an artificially inflated market capitalization and ensure a favorable debut for Ripple as a publicly traded company.
I've thought about it and concluded that it makes sense to have an IPO when XRP is low-priced. When XRP is worth more, it will make the market cap too high, so the sooner after the lawsuit is over the better. https://t.co/mq37f3jbJC
— Linda P. Jones (@LindaPJones) June 1, 2023
Public Triumphs Over Private
Jones, a seasoned expert in the crypto realm, shared her insights during a lively conversation with Mark Phillips, a former U.S. Air Force veteran. When Phillips inquired about the advantages of Ripple going public, Jones eagerly explained that being a publicly traded company would allow Ripple to attract new institutional customers more effectively. Furthermore, the transparency and regulatory oversight associated with being publicly listed could provide Ripple with a competitive edge in the ever-evolving cryptocurrency landscape.
Expanding on her analysis, Jones pointed to several compelling reasons why Ripple’s IPO could be just around the corner. Notably, she highlighted a private roadshow meeting held by Ripple in April 2023, where the company actively engaged with industry analysts, seeking their valuable insights. This sign of preparation and collaboration demonstrates Ripple’s commitment to making a splash in the IPO market.
Good analysis! Reasons why I think it will IPO sooner:
1) Private road show meeting with analysts April '23
2) Only companies that don't need cash can IPO in a bad IPO market (#Ripple with $1B cash is one that can)
3) Momentum – the end of lawsuit will create strong demand#XRP https://t.co/0YWqFOT4FF— Linda P. Jones (@LindaPJones) June 1, 2023
Ripple’s Reserve and Resilence
What sets Ripple apart, according to Jones, is its substantial cash reserves amounting to a staggering $1 billion. This financial fortitude puts the company in a prime position to brave the challenging IPO market, paving the way for a successful public debut.
Jones further emphasized the potential windfall Ripple could enjoy with the resolution of its ongoing legal battle against the U.S. Securities and Exchange Commission (SEC). A favorable outcome in this lawsuit could ignite a surge in demand for Ripple’s IPO, generating significant momentum for the company.
Intriguingly, Jones used her expertise to theorize that Ripple’s valuation could skyrocket by over twentyfold, reaching an astonishing $600 per share. Such a phenomenal growth trajectory would undoubtedly captivate investors’ attention and catapult Ripple into the spotlight.
Considering the strategic insights provided by Jones, it appears that Ripple may be contemplating a well-timed IPO, capitalizing on the lower XRP price point, mitigating market cap risks, and leveraging the anticipated resolution of its legal woes. The stage is set for Ripple’s grand entrance into the public markets, and all eyes are eagerly waiting to see when this crypto giant will make its move. Are you ready for it?
Economist Predictions: Federal Reserve Signals Pause on Rate Hikes Amid Debt Ceiling Suspension
On Wednesday, the U.S. House of Representatives managed to secure the backing of both Democrats and Republicans, successfully passing a bill that seeks to temporarily suspend the $31.4 trillion debt ceiling. This legislation removes the borrowing limit of the federal government until January 1, 2025.
With the Federal Reserve nearing its upcoming decision on whether to raise interest rates in June, all attention is now focused on this critical moment. In a recent televised interview on Friday, David Wessel, a respected economist and director of the Hutchins Center on Fiscal & Monetary Policy, offered his insights on monetary policy and the highly anticipated proposal for a rate hike.
Fed Likely to Skip Rate Hike in June
Renowned industry veteran David Wessel recently shared his perspective, suggesting that the Federal Reserve is inclined to skip raising interest rates at the upcoming June meeting. Wessel pointed to several factors to support his belief, including favorable conditions in the labor market, a decline in inflation, and the successful avoidance of a potential default scenario, which could have had severe repercussions on the financial markets.
During the interview, Wessel said, “I think it’s pretty clear the Fed is going to skip rate hikes at the June meeting.”
Further, Wessel emphasized that choosing to maintain the policy rate at the upcoming meeting should not be interpreted as the Federal Reserve reaching the highest point of interest rates in this cycle. Instead, by opting to skip a rate hike, the Committee would have a chance to gather additional data and information before making any further policy decisions.
This viewpoint of Wessel is similar to the one made by Fed Chair Jerome Powell on May 19, where he also indicated his support for pausing rate hikes during the June meeting in order to assess the economic consequences of previous rate adjustments.
Federal Officials Indicate Preference to Pause Rate Hikes
Prominent figures within the Federal Reserve have recently conveyed clear indications of their preference to abstain from raising interest rates at the upcoming central bank meeting. Philadelphia Federal Reserve Bank President Patrick Harker, for instance, expressed his inclination to support a decision to “skip” the interest rate hike in June. Harker, however, noted the potential for his viewpoint to change based on upcoming economic data, showing a willingness to adapt to evolving circumstances.
Over the course of ten consecutive meetings, the Federal Reserve has steadily raised interest rates, resulting in a total increase of 5 percentage points in the benchmark federal funds policy rate. Currently, the rate stands at a range of 5.0% to 5.25%.
However, it seems like the rate hike could pause for sometime.
Here’s When Traders Can Expect Bitcoin Bull Run 2023 – Arthur Hayes Predicts Timeline
Despite recent fears about the US regional financial crisis, the crypto market has shown signs of stability, suggesting a correction phase after two big gains since 2023. The US debt ceiling deal has prevented another Bitcoin price spike, but industry analysts are confident about the cryptocurrency market’s future.
Despite the turbulence in the banking sector, Bitcoin has demonstrated resilience, maintaining a steady course amidst regional banking concerns. This stability has provided a sense of reassurance to investors and traders who closely follow the cryptocurrency market.
Arthur Hayes, renowned for his expertise in the field, has presented a pragmatic forecast for Bitcoin’s growth in the coming months. Recognizing the importance of patience and monitoring the actions of the US Federal Reserve, Hayes suggests that the bullish path for Bitcoin could gain momentum by October 2023. His analysis centers around the potential impact of increased dollar liquidity on the US economy, leading to the acquisition of risk assets like Gold, Bitcoin, and AI tech stocks as he mentioned in his blog post.
Understanding the Factors Behind
Notably, Hayes’ projection takes into account the current economic landscape and potential market catalysts. By assessing the influence of the US Federal Reserve’s interest rate policies and the broader implications of dollar liquidity, he suggests that Bitcoin’s growth is likely to align with these factors.
Late in Q3 and early in the Q4 of 2023, Hayes expects the real Bitcoin bull market to commence. Despite acknowledging the possibility of price fluctuations, Hayes firmly states that retesting the $20,000 mark or similar levels is unlikely.
Based on Hayes’ predictions, it is reasonable to expect Bitcoin’s price to remain within its current range, with a potential floor above the $23,000 mark even in the worst-case scenario. It is crucial for crypto investors to consider Hayes’ forecast alongside the countdown to the Bitcoin halving event, scheduled to occur before June 2024, aligning with the timeframe he has provided.
Price analysis 6/2: BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, SOL, DOT, LTC
Bitcoin and most major altcoins are witnessing subdued price action, indicating a lack of buying interest from the larger players.
Arbitrum price soars after DeFi whale address resumes ARB accumulation
On June 2, the price of Arbitrum jumped alongside the top-ranking cryptocurrencies after the United States Senate voted to raise the debt limit.
Why is the ARB price up today?
The price of Arbitrum (ARB) rose 9% to an intraday high of $1.25, beating the crypto market’s total overall gains of 1.5% in the same period.
Arbitrum’s outperformance coincided with some strange buying activity associated with popular trader Andrew Kang’s crypto addresses.
Notably, on June 2, the Mechanism Capital co-founder deposited $1 million worth of stablecoins into Arbitrum pools and spent over 20% of it buying RDNT, the native token of decentralized finance lending platform Radiant Capital.
Later, Kang exchanged his newly bought and existing RDNT reserves for $867,000 worth of ARB. Then, he deposited the proceeds to Radiant Capital to borrow Circle’s USD Coin (USDC), according to data resource Lookonchain.
The platform noted:
“Seems like Andrew Kang is using leverage to go long $ARB on @RDNTCapital. Buy $ARB → Deposit $ARB → Borrow $USDC → Buy $ARB.”
Is the ARB rally sustainable?
Lookonchain revealed that an anonymous whale deposited $1.5 million worth of ARB to the OKX exchange, simultaneous to Kang’s abovementioned transfers.
Whale”0xf59b” finally waited for the rise of $ARB and deposited 1.2M $ARB ($1.5M) into #OKX 30 minutes ago.
He withdrew 1.2M $ARB from #OKX on May 8th, and the buying price may be around $1.2.https://t.co/cJReZfg007 pic.twitter.com/jFwBRtPUpK
— Lookonchain (@lookonchain) June 2, 2023
Investors deposit tokens to crypto exchanges typically for selling. That raises ARB’s pullback possibilities in the coming days if its demand drops. Interestingly, the token’s technical setup on the daily chart suggests the same.
Related: Arbitrum-based Jimbos Protocol hacked, losing $7.5M in Ether
Notably, ARB has printed what appears to be a bear flag, confirmed by the price consolidating between two rising, parallel trendlines, after a strong move downward. As a rule, a bear flag resolves after the price breaks below the lower trendline and falls by as much as the previous downtrend’s height.
That puts ARB on the road to $0.95 in June, down circa 20% from current price levels.
Conversely, a decisive breakout above the flag’s upper trendline will likely invalidate the bearish outlook, setting the Arbitrum token on the course toward $1.35, a resistance level from the March to May 2023 session.
Privacy-focused Aleo blockchain gets new wallet as mainnet launch approaches
Demox Labs has debuted a new wallet for the privacy-oriented Aleo blockchain network, according to a June 1 announcement. Called “Leo,” the wallet allows users to generate zero-knowledge (ZK) proofs within their browsers, letting them interact with Aleo’s ZK-based apps. Aleo is in its testnet phase but expects to launch a mainnet later this year.
According to the announcement, Demox also raised $4.5 million from investors to further develop ZK-proof technology through Aleo and other networks. Over 40,000 users signed up for the Leo wallet waitlist in the period leading up to its debut.
Congratulations to Demox Labs, creators of @theLeoWallet for securing $4.5m in funding.
We are proud to have a top-notch team building the future of privacy on @AleoHQ https://t.co/4P5bNVx4Ea
— Aleo (@AleoHQ) June 2, 2023
The funding round was led by venture capital firm HackVC and included participation from DCVC, Amplify Partners, Coinbase Ventures, CRV, OpenSea and CSquared. The funds will be used to make Leo compatible with other ZK-proof blockchains and develop Web3 applications for enterprises.
Demox Labs co-founder and CEO Barron Caster saw the wallet’s launch and fundraise as the start of a new privacy-focused era in Web3:
“Leo Wallet is just one example of how [zero-knowledge proofs] will empower individuals to use modern technologies and maintain legal and regulatory compliance without sacrificing personal privacy […] Sharing sensitive data will soon become an option, not a requirement.”
In a conversation with Cointelegraph, Aleo CEO Alex Pruden echoed that sentiment. He said zero-knowledge privacy technology is unique because it allows for “programmable privacy.” He added: “Everything you can do on Ethereum, you can do in Aleo, but privately.”
Related: Are ZK-proofs the answer to Bitcoin’s Ordinal and BRC-20 problem?
Aleo raised $28 million in April 2021 and acquired another $200 million in February 2022. It launched its testnet in August of the same year.
Bitcoin Investors Wait For A Bullish Surprise! Will BTC Price Head Toward $28K?
As the Bitcoin market continues to display massive volatility near the $27K level, investors are awaiting a bullish surprise to ride on a short-term uptrend. The U.S. unemployment rate recently broke the expected 3.5%, creating a favorable position for Bitcoin’s upward trajectory. Additionally, the recent rise in the debt ceiling is building a bullish positive momentum for BTC price, leaving investors waiting for a solid trend.
Bitcoin Experiences Bullish Scenario
The U.S. unemployment rate recently broke the expected 3.5%, coming in at 3.7%. While this slight increase may initially seem concerning, it’s important to delve deeper into the data. The May non-farm payrolls, a key indicator of job growth, were projected at 190,000 but instead came in at a whopping +339,000. This robust and resilient job market paints a picture of an economy that is bouncing back stronger than expected.
According to a recent analysis by QCP Capital, clarity has emerged in the macroeconomic landscape following a compromise on the Debt Ceiling by U.S. political figures. This event had previously been a source of uncertainty, causing unrest in the financial sector.
This heightened uncertainty was a significant factor in the observed decrease in volatility and the stagnant trend in risk-on assets like Bitcoin. Drawing parallels to 2020, QCP Capital suggests that Bitcoin is on a similar path, mirroring the period of uncertainty in both the macroeconomic scene and the crypto market after a prolonged dormant phase.
The cryptocurrency experienced a significant drop and remained stable for the year, mirroring Bitcoin’s 2020 behavior, as shown in the chart. Bitcoin later trended upwards in 2020. QCP Capital predicts a similar pattern for BTC, anticipating a break from the stable price action soon.
What’s Next For BTC Price?
BitMEX co-founder Arthur Hayes argues that Bitcoin’s price and inflation will increase together due to aggressive central bank policies, a view that contradicts the modern monetary theory.
BTC’s price is currently facing a hurdle to hold its momentum near the $27K price level. After forming a Doji candle near $27,200, the BTC price faced sharp selling pressure, forcing it to drop below the 23.6% Fib level.
However, Bitcoin is showing a reversal from its downtrend, suggesting that sellers remain active at key resistance levels. The nearly flat 20-day EMA of $27,106 and the RSI just below the midpoint don’t clearly favor either buyers or sellers. If the price stays below the 20-day EMA, BTC could fall to the $26,650 support level.
The $24,000 to $25,300 range is expected to be strongly defended by buyers, as a break could lead to a sharp drop to $20,000.
For a new upward trend, buyers need to overcome the resistance line at $28K. This could initially push the BTC price to $30,000 and then to $31,000.
Can It Surpass The 2024 Price Predictions of XRP And Lido DAO?
The cryptocurrency market has witnessed numerous presale events that have captivated investors with their potential for exponential growth. In recent times, Uwerx has added itself to that list, riding the wave of success alongside XRP (XRP) and Lido DAO (LDO).
The presale for Uwerx is nothing short of a success, generating excitement and anticipation within the crypto community. This article dives into the reasons behind the remarkable surge of Uwerx.
Uwerx (WERX) Open the Doors to Decentralized Freelancing
Uwerx will be a decentralized freelance project that aims to transform the gig industry through blockchain technology. It will provide a fair and transparent freelance market that connects independent contractors to an extensive network of clients searching for capable professionals. Thanks to the project’s Alpha version, users will be granted a preview of the transformative potential that Uwerx holds for its community.
The platform’s landing page and sign-up/sign-in pages are scheduled to be released first on the 19th of May, 2023. The Beta version and other additional features will be released weekly or bi-weekly, allowing for a steady and captivating progression. While this exercise is ongoing, the platform will be open to comments and reviews from all its users.
In a short while, the project has attracted 5000 sign-ups through its successful presale. These numbers are a strong indicator of the project’s overwhelming potential.
Uwerx has made its community user-centric by conducting polls. The first poll asked the community to vote on a test airdrop. An astonishing 98.2% of the community voted in favour of a test airdrop. The team was thrilled by the overwhelming feedback and response received, and to ensure a seamless user experience, they will utilize the airdrop to verify the accuracy of users’ wallet addresses.
During the second poll, the community was asked if they wanted the team to lock their tokens now or after the presale, to which 82.8% voted in favour of locking the tokens now. To avoid any rug pulls in the future, the developers decided to enter a 25-year liquidity lock with their 7% token allocation. The team will announce a lock date very soon.
Uwerx has already gotten audit permissions from SolidProof and InterFi in its journey toward safety, security, and transparency project. Uwerx has launched the Uwerx Vault, where users can store their tokens for a preferred duration. It works like staking and will be rewarding investors who use it.
You can purchase a Uwerx token for as low as $0.0225 and enjoy a 20% purchase bonus. However, we strongly recommend acting swiftly, as prices are poised to rise, and bonuses will reduce soon. Analysts say Uwerx might hit $1.27 by Q4 2023 and $2.002 by Q2 2024.
Lido DAO (LDO) Increases in Profit
Lido DAO (LDO) is a decentralized project that assists Proof-of-Stake cryptocurrencies with liquid staking protocols. It distributes governing right through its native token, LDO, to its users. The users can then vote on the network according to their stakes.
Lido DAO (LDO) has been on an upward trajectory. The token increased by 1.87% in the last 24 hours. It also saw a 17.60% increase over the past week. Currently priced at $2.23, Lido DAO (LDO) boasts a substantial market cap of $1.9 billion. This is evidence of its growing prominence in the crypto market.
Lido DAO (LDO) is performing outstandingly in the global cryptocurrency market and might see a further increase in the coming days.
Lido DAO (LDO) has a flexible voting mechanism. Its voting mechanism can be upgraded and adjusted while maintaining its independence from other protocols on the blockchain.
XRP (XRP) Still Has Some Bullish Steam
XRP’s (XRP) current trading price is $0.44. It increased by 5.54% in the past 24 hours. Over the seven days, XRP (XRP) has witnessed a commendable increase of 4.60%, propelling its market cap to an impressive $23 billion.
The project enjoys substantial support from the community, with over 83% expressing bullish sentiments, envisioning XRP’s price to reach $0.49 in the coming week. XRP (XRP) aims to revolutionize global payments, enabling faster and more cost-effective transactions worldwide.
The project’s ledger can confirm transactions in under five seconds. XRP tokens can be obtained on centralized and decentralized exchanges. A key feature of XRP (XRP) is its quick remittance and low transaction fees. It can confirm transactions in under five seconds.
While XRP (XRP) and Lido DAO (LDO) enjoy popularity, analysts also identify opportunities in projects like Uwerx. Uwerx aims to create a platform that serves clients and enriches freelancers and investors. Become a part of this project today and enjoy the 20% bonus while the offer lasts.
Key segments of the Alpha Version are already live, with the highly anticipated Beta version soon to be rolled out. This is an invitation to witness firsthand the transformative potential of Uwerx, and not just witness, but partake in it.
However, this window of opportunity won’t stay open forever. The value of WERX is forecasted to surge from $0.0315 to $0.041 on Friday, 2nd June at 15:00 UTC. This imminent price adjustment is a clear signal of the company’s upward trajectory.
Additionally, the current 20% bonus on orders is set to be trimmed down to 15%. This implies that the earlier you get on board, the higher your potential returns. By investing now at $0.0315, you’ll lock in a generous 20% purchase bonus.
The future waits for no one, and neither does Uwerx. Dive deeper into this dynamic opportunity – click the links below to explore more and align your financial future with the rising star that is Uwerx. Your journey to potentially massive growth starts today.
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