Ripple Escrows 600 Million XRP Tokens Worth $246.6M: WhaleAlert
The US Securities and Exchange Commission is suing Ripple Labs, the company behind the cryptocurrency XRP (SEC). According to the SEC, Ripple Labs raised billions of dollars in an unregistered securities offering, and XRP is a security.
Ripple Labs is fighting the lawsuit in court and has denied the allegations. The outcome of the case could have far-reaching consequences for the crypto community and as a result, it is much anticipated.
Meanwhile, news has cropped up about the Ripple management of the XRP token.
Whale alert on locked-up XRP
Whale Alert is one of the largest and fastest-growing crypto communities. They provide real-time transaction data. In a recent whale alert, it was reported that 500,000,000 XRP worth 200,168,995 USD was locked in escrow at Ripple Escrow wallet.
The term “in escrow” in financial transactions refers to a temporary state of an item, such as money or property, that has been transferred to a third party. This is typically done on behalf of a buyer and seller. “In escrow” refers to a type of legal holding account for items that cannot be released until certain conditions are met. Items are typically held in escrow until the process involving a financial transaction is completed.
1 Billion tokens were unlocked at the beginning of the year
On the first day of the year, exactly 1 billion XRP tokens were unlocked from escrow accounts. Previously, XRP was unlocked directly from Ripple escrows; this time, according to Whale Alert, it occurred in unknown accounts.
Large amounts of XRP tokens were also transferred by cryptocurrency whales before and after Ripple locked XRP in escrow. Ripple, interestingly, was involved in the most recent round of XRP movements. An anonymous whale transferred to Ripple 300 million XRP tokens worth $119.48 million. Notably, the transaction took place an hour before Whale Alert revealed the details of the 600 million XRP tokens held in escrow by Ripple.
Ripple aims to bring predictability to the XRP offering when the token is directly used by the company in its transactions by unlocking XRP from its escrows each month. While such accounts initially held 55% of the 100 billion XRP supply, that figure has now dropped to 42.7%.
To conclude,
With so many XRP movements being reported, it is possible that something significant is in the works for the token.
Can ‘eco-friendly’ Polkadot Gain Public Favor? Snowfall Protocol And Chainlink Are The Best Utility Tokens To Watch
One remarkable progress in blockchain technology is finding the solution to the blockchain trilemma. While Polkadot (DOT) boasts an eco-friendly solution to a scalable and fast network, other protocols like Solana and Polygon are becoming more popular.
While blockchain technology has immeasurable benefits, it lacks inclusivity and connectivity. Projects like Chainlink (LINK) helps enterprises connect with the blockchain world, while Snowfall Protocol (SNW) offers much-needed interoperability between blockchain networks. It is a cross-chain transfer protocol with ingenious utilities. Read on to learn more about the best utility tokens to watch.
Snowfall Protocol (SNW): Best Utility Token
Snowfall Protocol (SNW) is unarguably the top coin to watch this year. Its revolutionizing data and asset transfer capabilities are everything you can ever dream of. Snowfall Protocol (SNW) is the cross-chain asset bridging solution for cryptocurrencies and non-fungible tokens. It allows users to harness the power of over 200 blockchain networks and enable the seamless transfer of funds over EVM-compatible and non-EVM chains.
Snowfall Protocol (SNW) eliminates the technical barrier and needs for a third-party asset transfer protocol – thus, promoting interoperability and inclusivity. It provides a cost-effective solution to moving assets hassle-free, securely, and seamlessly at an incredibly innovative level. That’s one of the main reasons why investors and enthusiasts are flocking to the Snowfall Protocol (SNW).
The importance of Snowfall Protocol’s disruptive features is evident in its presale success. The project raised over $5 million over three presale stages, and experts think it’s the next big thing.Snowfall Protocol (SNW) token is rising exponentially due to skyrocketing demand.
Presently, the Snowfall Protocol (SNW) token is trading at $0.2, about a 4000% rise from the initial presale value of $0.005. Experts forecast a 500-fold growth after launch because of its important and profitable utility. Therefore, the Snowfall Protocol is here to stay forever. Be a part of the movement and invest in Snowfall Protocol tokens today.
Is Chainlink (LINK) a Good Investment?
Another best utility token to watch this year is Chainlink (LINK). The Ethereum-based oracle network seamlessly helps traditional businesses and enterprises connect with blockchain technology. In addition, it serves as a middleware that promotes fast, reliable, and confidentiality-preserving data transfer between off-chain and on-chain sources.
The Chainlink (LINK) token is an ERC-677 asset – an extension that retains the properties of ERC-20 tokens. Since its launch, Chainlink (LINK) has gained popularity as a top oracle project. Its token exploded from $0.19 to $53, about a 28,000% rise in price in 4 years. Currently, Chainlink (LINK) token is in deep discount, trading at $7. This, and its utility, makes the token attractive to investors. So far this year, the Chainlink (LINK) token has grown by 26%.
Can Polkadot’s (DOT) Eco-Friendliness Gain Public Favor?
Low energy consumption and eco-friendliness are important features that many blockchain networks find hard to achieve. Polkadot (DOT) is one of the few energy-efficient chains that consumes the least electricity. Ultimately, Polkadot’s eco-friendliness can drive its adoption and create a positive sentiment around the network.
One thing that has sustained Polkadot (DOT) for years is its efficiency and eco-friendliness. Over the last few weeks, Polkadot (DOT) has been getting back on track with good price movements while its social mentions grew. Upcoming developments and upgrades to enhance user experience and activities are underway within Polkadot (DOT). Meanwhile, user activity, demand, and transfers grew by 600%.
Conclusion
Chainlink (LINK) and Polkadot (DOT) have shown so much potential for long-term viability. However, Snowfall Protocol (SNW) use cases in promoting interoperability and interchain communication are fast becoming its main point of attraction. Therefore, ape into the project at presale to earn the best return on investment today.
Get in while you can and invest in Snowfall Protocol (SNW) today!!!
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Are Shiba Inu Whales No Longer Interested in SHIB Tokens?
Since the beginning of the bull market in 2023, the price of Shiba Inu (SHIB), which is the world’s second-largest meme token, has been increasing along with the price of the rest of the cryptocurrency market. In the previous twenty-four hours, the token’s value has increased by 3.6%, while in the past seven days, it has decreased by 3.75%.
Why Whales are Not Interested in Shiba Inu?
For quite some time now, the whales have been showing a significant amount of interest in the meme token. One of the reasons why many retail investors are hesitant to get into the project is because of this. A sale of tokens by the “whales” would result in a precipitous decline in the price of the token.
On the other hand, the difficulty or unwillingness of whales to drive the token’s price any further may be connected to the need for a brief correction that would cool down SHIB and the market as a whole.
On the 26th of January, there was a significant reduction in the number of SHIB tokens that were burnt on the network. A dip of this magnitude might be seen as a signal of declining network activity, which is unfavorable to SHIB and should be avoided at all costs.
The burn rate, as well as the general activity of the Shiba Inu network, are thankfully seeing a recovery. The burn rate has now returned to the levels that we typically observe when the network is operating normally. SHIB failed to push through the protracted downward trend and made a U-turn at the three-month regression line.
If the current trend on the market continues, the meme token will revert to the downward movement dynamic, at which point it will give up all of the ground it has gained since the commencement of the market’s bull rally.
Crypto Whales Transfer 356 Million XRP Tokens, XRP Price Nears $0.40
While Ripple is looking forward to a win in its ongoing case against the US Securities and Exchange Commission (SEC), its native currency XRP is finding its recovery phase. The altcoin is just a few cents below hitting $0.40.
However, though XRP has experienced a remarkable performance, the currency’s massive spike depends on its win in the Ripple vs SEC case. Since June 14 the XRP price has been trading within its symmetrical triangle.
At the time of publication, XRP is selling at $0.39 with a surge of 1.72% in the last 24hrs.
Crypto Whale Transfers Huge XRP Tokens
Meanwhile, Crypto whales have been transferring millions of XRP tokens amidst the recovery phase. The WhaleAlert data claims that the Crypto whales have moved beyond 350 million XRP tokens in the last 24hrs. Among these, an unknown wallet has received 261 million XRP which is worth nearly $102.4 million and this happens to be done in one single transaction.
Furthermore, on the last day, the whales also bought 65.8 million XRP which amounts to nearly $26 million in multiple transactions. Among these accumulations, one single transaction has recorded a purchase of $13.6 million XRP. On the contrary, as per the reports, a few whale addresses have discarded around 62 million XRP from unknown wallets to different crypto exchanges.
On the other hand, another report has mentioned that XRP is now one of the highest-value token locks. This report comes from an escrow account which is a legal financial agreement where an asset or liability is held by a third party.
Altcoins are Exploding- Here are the Top Potential Tokens for January 2023
The post Altcoins are Exploding- Here are the Top Potential Tokens for January 2023 appeared first on Coinpedia Fintech News
After reaching the local highs, Bitcoin price was believed to fall prey to the bears who may drag the price below $20,000. However, the price held the pivotal support which was a crucial resistance then at $20,800, and bounced back above $21,000 at the moment. With the growing strength within the markets, some of the altcoins are believed to resume a notable upswing in the coming days.
Meanwhile, some of the altcoins appear o have geared up to manifest one of the massive bull rallies during Q1 2023.
Polygon (MATIC)
- Polygon price is appearing to be extremely bullish as the price is trading within an ascending triangle and heading towards the upper resistance.
- However, in the meantime, the price may face a minor pullback but may sustain above $1, which may trigger the next leg up.
- With the impending upswing, the MATIC price could break through the resistance and reach the important levels at $0.15 which may further propel the price close to $1.73.
Ripple (XRP)
- XRP price has been maintaining a decent trend ever since the prices dropped due to the market collapse in May 2022.
- With the fresh upswing, the price ranged high to test the crucial resistance at $0.4 but woefully is facing a minor bearish action that is not validated as a rejection.
- However, after experiencing extreme bearish pressure, the price could explode beyond the resistance and head toward the next target at $0.55.
Solana (SOL)
- After undergoing dreadful days in 2022, Solana was believed to collapse and remain consolidated with a single-digit figure, but the token raised above the FUD.
- The price has been raising high since the beginning of the year 2023 by forming constant bull flags.
- Besides, the trading volume has dropped notably due to which the price may consolidate to reach the peak of the triangle and with a significant bullish push, rise high towards the upper target set at $30.
Decentraland (MANA)
- Decentraland was landing in deep waters while the raised Github activity and the cutting-edge collaboration with the Australian Open, a Tennis tournament flipped the rally.
- The price marked a huge upswing of more than 150% since the beginning of 2023 and nearly 80% in the past week.
- The bulls appear to have slightly drained but may regain momentum and reclaim the levels above $1 to hit the crucial resistance at $1.1 soon.
Aptos (APT)
- Aptos price appeared to have ignited a notable bullish trend after trading flat for the first few days of the year 2023.
- The volume rose significantly that igniting a notable upswing and marked highs above $9 in a short while.
- However, the current price squeeze may drag the price lower towards the support which may trigger a rebound to regain bullish momentum to regain the levels beyond $10 soon.
Orbeon Protocol (ORBN) Sells 60M Tokens, While Ripple (XRP) and Flow (FLOW) Fluster
The cryptocurrency market continues to be volatile, with tokens of all sizes gaining and dropping in value. This past month saw Orbeon Protocol (ORBN) up by over 987%, while two other major digital currencies — Ripple (XRP) and Flow (FLOW) — experienced significant price fluctuations. Let’s investigate further.
Orbeon Protocol (ORBN)
Orbeon Protocol (ORBN) is changing the world of crowdfunding with its blockchain-based protocol. Orbeon Protocol (ORBN) stands out from the crowd with its utilization of equity-based NFTs, which serve as a new vehicle for investors to buy into startups. These NFTs can be bought by everyday investors for as little as $1.
The ORBN token can be used to pay for transactions within the network and is also used to grant ORBN holders various bonuses. In fact, holding ORBN grants staking rewards, governance rights, priority access to new crowdfunding rounds, and an array of other benefits.
As you can see, Orbeon Protocol (ORBN) is revolutionizing the fundraising process and paving the way for a more equitable, efficient market. It’s no surprise the presale is going so well, with 60 million tokens sold in the past few weeks, and ORBN up from $0.004 to $0.0435. ORBN is also set to surge by over 6000% once it hits exchanges.
Ripple (XRP)
Ripple (XRP) was created to tackle the inefficiencies of traditional financial institutions and revolutionize the cross-border payments industry. As such, Ripple (XRP) is being adopted by several high-profile banks and is gaining traction in the global market.
However, Ripple (XRP) has been stopped in the US due to a lawsuit filed by the Securities and Exchange Commission (SEC). The SEC alleges that Ripple (XRP) is in fact a security, as its founders sold Ripple (XRP) as an investment opportunity.
This law case has held back Ripple (XRP) from soaring to greater heights. In fact, Ripple (XRP) is starting to be delisted from several exchanges due to this legal dispute. All eyes are on the court case and how it will affect the future of Ripple (XRP).
Flow (FLOW)
Flow (FLOW) is a blockchain platform designed to enable developers to create decentralized applications with ease. Flow (FLOW) was created by Dapper Labs, the same company behind the popular CryptoKitties game. In fact, they created Flow (FLOW) due to the problems CryptoKitties had with Ethereum (ETH) scalability issues.
Flow (FLOW) boasts a unique way of attaining consensus, which divides the process into four distinct steps instead of solely relying on one linear chain. This makes Flow (FLOW) immune to double-spend attacks and also increases scalability.
Recently, the price of Flow (FLOW) experienced a small pump after news broke that NBA Top Shot, a blockchain-based collectibles game, would be built on the Flow (FLOW) platform. However, the overall picture for Flow (FLOW) isn’t so good, with it dropping by more than 97% since its all-time high of $46 in April 2021.
Find Out More About The Orbeon Protocol Presale
Website: https://orbeonprotocol.com/
Presale: https://presale.orbeonprotocol.com/register
Telegram: https://t.me/OrbeonProtocol
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XRP Holders Get FLR Tokens Airdropped, FLARE Price Plunge More Than 50%
Flare Network which initially anticipated becoming a decentralized finance (DeFi) application has finally airdropped FLR tokens to XRP holders. After two and half years, the airdrop finally began Monday night i.e Jan 9 2023 which has excited the whole crypto community
The XRP holders received nearly 4.28 billion FLR tokens and these holders are the ones who had at least one XRP token since December 2020. Moreover, the airdrop was distributed like one FLR for every XRP token held. The initial FLR airdrop accounts for 15% of the Flare network’s total supply. Another 85% of the tokens will be distributed in the next three years.
Flare Airdrop, The Biggest Event Of 2023
Flare is basically a Layer 1 blockchain that allows developers to create interoperable applications. Layer 1 is nothing but a base of the blockchain which uses third-party services to gain information from other networks. These FLR holders will have a right to vote on the way the next airdrop is going to take place along with giving their opinion on other projects.
However, right after XRP holders received the FLR tokens, the holders dumped the tokens which they initially sold for 15 cents per token after which the FLR price plummeted
At the time of reporting, FLR is selling at $0.04011 after it lost 49.65% over the last 24hrs.
This airdrop happens to be one of the biggest events of 2023 in the crypto space where Flare partnered with lead exchanges like Binance, OKX, Kraken, KuCoin, and others who agreed to support the airdrop.
Top Solana NFT Collections Migrate To Polygon, Snowfall Protocol Sells 200 million+ tokens In 2 Months
The crypto market is an exciting place to be right now. With so many new projects and coins coming out, it can be difficult to decide which one to invest in. In this article, we are going to talk about the recent developments of some of the most well-known cryptocurrencies in the market today: Snowfall Protocol (SNW), Cardano (ADA), and Polygon (MATIC).
Cardano (ADA) sharks buy up 11% of the total supply
Over the past two months, Cardano (ADA) sharks have started being active again. Beginning in early November, these Cardano (ADA) wallets have been accumulating hundreds of millions of dollars worth of tokens. As of the beginning of November, these wallets held roughly 10.5% of the entire Cardano (ADA) supply. In contrast, after purchasing an additional 330 million Cardano (ADA) tokens for a total of $83,000,000, the percentage is presently at 11.60%, almost 6 weeks later.
The major increase in shark purchases will have possible long-term effects on the value of the digital asset. The value of Cardano (ADA) is likely to rise as a result of such a large influx of investment. Although the shark movement was intended to reverse the downward trend that Cardano (ADA) has been experiencing, the current market conditions have prevented the same. In the last 30 days, Cardano’s (ADA) value has dropped 18%, to $0.26.
Solana NFT Collections to soon shift to Polygon (MATIC)
Both y00ts and DeGods, the two largest NFT collections on Solana, have stated their intention to move to other blockchain like Ethereum (ETH) and Polygon (MATIC) in 2023. Thus, Ethereum and its Layer-2 solution, Polygon (MATIC), are set to become the next stop for digital art collections. Ethereum was never questioned, but allegations quickly spread that Polygon (MATIC) had offered financial incentives to encourage projects to move to its platform.
Solana Labs’ co-founder accepted this incident in stride, commenting on claims that Polygon (MATIC) financed the projects, and DeGods founder hasn’t refuted it either. Many in the crypto community now believe that the NFT collection will not be relocated to Polygon (MATIC) for the advantages it provides, but rather because of the price paid.
Polygon (MATIC), as a cryptocurrency, has struggled in 2022. The price of Polygon (MATIC) has decreased from $1.60 a year ago to its current price of $0.81, a loss of approximately 70%.
Snowfall Protocol (SNW) favored by millions of crypto lovers
With its recent meteoric rise in price, Snowfall Protocol (SNW) has caught the eye of many eager buyers. Snowfall Protocol (SNW) is the first platform to enable fungible and non-fungible token exchange across multiple blockchains without the need for third-party intermediaries.
Snowfall Protocol (SNW) will release its dApp soon, which will allow users to trade assets across multiple, EVM-compatible and non-EVM-compatible blockchains. By return on investment, Snowfall Protocol (SNW) token ranks among the top performers in the DeFi market. Since its early presale stages, the popularity of Snowfall Protocol (SNW) has increased tremendously, leading to sales of over 200 million tokens in just two months.
Owing to the Snowfall Protocol (SNW) unique features and use case, its price has gone up by more than 400%. Upon its launch in January 2023, some analysts predict that the price of Snowfall Protocol (SNW) will have increased by 5000%. Leading market analysts predict that Snowfall Protocol (SNW) will be the next 1000x token and would completely turn the crypto market’s current situation around. At the time of writing, the price ofSnowfall Protocol (SNW) is $0.14, however, it is expected to increase dramatically in the near future.
Get in while you can and invest in Snowfall Protocol (SNW) today!!!
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The best tokens for 2023
We live increasingly in a digital world, and cryptocurrencies have emerged as a significant force in the global economy. As such, many investors are looking for high-potential tokens to invest in and capture maximum returns.
Several tokens could be contenders for the best token investment in 2023. However, after careful consideration, Shiba Inu (SHIB), Orbeon Protocol (ORBN) and Solana (SOL) have been singled out as the best tokens for 2023 based on the potential for massive gains and their unique value propositions. Notably, ORBN has already seen an 805% price increase during presale with no signs of slowing.
Shiba Inu (SHIB)
Shiba Inu (SHIB) is a cryptocurrency token launched on the Ethereum blockchain in August 2020. Shiba Inu has surged to become one of the top 15 tokens by market cap as of March 2021, with a current capitalization of over $20 billion.
Shiba Inu was created as an experiment and meme to rival Dogecoin, featuring a Shiba Inu dog as its logo. Shiba Inu’s primary use case is speculation, given its vast gains in the past few months.
With about 50% of Shiba Inu’s total supply held by the team, the token could continue to surge in value as there is limited selling pressure. In addition, Shiba Inu is integrated with a range of DeFi protocols to offer users more options for leveraging their investments.
Orbeon Protocol (ORBN)
Orbeon Protocol (ORBN) is a decentralized platform that uses blockchain technology to enable startups to raise capital more efficiently, whilst investors can access the previously-gated venture capital market.
This is possible through the use of equity-backed, fractionalized NFTs that budding startups can mint as a form of investment on the Orbeon Protocol marketplace. These NFTs can be purchased from as low as $1, and are a much more accessible form of venture capital investment..
ORBN, the project’s native token, has gained significant attention through the project’s presale and also due to the utility it provides. Aside from its use as a transactional token, ORBN also provides holders with various benefits like transaction fee discounts, access to exclusive investor groups and even project governance rights.
ORBN has already exploded by 805% in the first 3 stages of presale but shows no signs of slowing. Analysts predict that from its initial price of $0.004, ORBN could rise orbeonby 6000% to $0.24.
Solana (SOL)
Solana (SOL) is a blockchain-based distributed ledger protocol designed to make decentralized applications faster, more efficient, and more secure.
Solana is the first blockchain to use a “proof-of-history” consensus mechanism, an alternative to proof-of-work (PoW) and proof-of-stake (PoS). Solana’s significant features include low transaction fees, high scalability, and near real-time settlement.
As of January 2022, Solana (SOL) was the 10th largest token by market cap and currently trades at around $60 per unit. This makes Solana an excellent option for long-term investors looking to capitalize on the potential of blockchain technology.
The Solana community is also proliferating as more developers join the network and build more applications on the platform. This indicates that Solana (SOL) could be one of the best tokens for 2023, with investors expected to reap huge rewards.
Conclusion
SHIB offers a unique value proposition and the potential for huge gains. ORBN is gaining traction with developers and businesses, and SOL is emerging as the blockchain of choice for developing applications. These three tokens are excellent options to invest in 2023 and capture maximum returns.
However, also bear in mind that these investments are speculative, and investors should always do their research before investing. Furthermore, the prices of cryptocurrencies can be highly volatile, so it’s important to use risk management strategies such as stop-loss orders when trading.
Find Out More About The Orbeon Protocol Presale
Website: https://orbeonprotocol.com/
Presale: https://presale.orbeonprotocol.com/register
Telegram: https://t.me/OrbeonProtocol
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Is Ethereum in more Trouble? Whales Dumped 880,000 ETH Tokens This Month
For quite some time now, Ether, along with the rest of the cryptocurrency market, has been going through a difficult period. According to data obtained from Santiment, Ethereum whales have already sold 880,000 ETH tokens during the month of December 2022, making Ether’s current situation an even more worrying one.
Only 16.02% of the entire supply of Ethereum is said to be liquid across all centralized exchanges at the moment, according to Glassnode. When whales want to keep their assets for a significant amount of time, they will often transmit bitcoin from exchanges.
Keeping a substantial quantity of money on an exchange, which is the most sought-after target for thieves attempting to steal cryptocurrencies, exposes you to an increased chance of having your money stolen.
Ethereum: 2022 price performance
In 2022, Ethereum made significant progress toward its goal of developing a global computer and a decentralized financial system by checking off numerous items on its checklist.
One of the most notable developments was the completion of the significant transition to a new, more environmentally friendly technology for powering its network.
However, the year was also marked by challenges, including concerns about censorship and record-breaking attacks on Ethereum-related infrastructure. Both of these issues played a significant role in the narrative of the year.
While Ethereum’s core code itself has never been the target of an attack, most of the major DeFi thefts that occurred during the past year caused chaos for users of Ethereum’s DeFi ecosystem.
ETH Price Analysis
In terms of Ethereum’s price, the token is presently valued at $1,193, a considerable decrease from its all-time high of $4,800 reached in November 2021.
The bears are defending the $1,223 level with force, as the bulls have been unable to push Ethereum over the 20-day exponential moving average (EMA). This may have caused the bulls to give up and retreat.
At this point, the token may drop to $1,182. If this support breaks, it might fall to the next solid support level at $1,150. If the ETH price successfully recovers from there, it might indicate that the cryptocurrency will stabilize for a few days in the $1,150 to $1,352 range.
Alternatively, a bearish pattern will emerge and push the toke further down below $1,000.
B2BinPay Introduces Its New Fresh Looking Website, New Pricing Policies, Tokens, & Merchant Models!
B2BinPay, a top-quality crypto payment processing solution, has announced an exciting improvement to its commissions, the main website, Enterprise, and Merchant Models. First and foremost, the fees and pricing structure of B2BinPay have been reworked, resulting in much reduced charges. To find out about the upgrade in more detail, please continue to read below.
B2BinPay Introduces Optimized Fee Structures
The B2BinPay team has reworked the price options to provide even more value to clients. Inside this Merchant Models, the percentage tiers and volume criteria have been reduced as follows:
Moreover, B2BinPay has reduced the Enterprise activation price from $1,500 down to $1,000. The group has also lowered the prices for Enterprise customers by adjusting the percentage levels. New changes are visible below:
All outgoing transactions are free! These are among the industry’s lowest prices, and they represent excellent value for B2BinPay clients.
Check The Fresh Feature Set
The B2BinPay crew has reworked the website to offer users noteworthy content in a way that is simple to comprehend. New and improved sections have been added to the site to provide information on all of B2BinPay’s offerings. The newly redesigned pages are easier to navigate and provide instantaneous access to the most important content.
The company has also developed a detailed guideline of both On-Chain and Off-Chain deals. When a transaction is “on-chain,” it takes place on the blockchain and must be validated by users on the network. For On-chain transactions, B2BinPay does not collect a fee, but the buyer must still cover the blockchain’s transaction fee. B2BinPay’s proprietary technology allows for Off-Chain transactions to be processed.
These deals are closed between B2BinPay customers but are not recorded in the blockchain’s public ledger. Because they don’t require any confirmation time or blockchain fees, they save B2BinPay’s customers time and money. There is now a comprehensive explanation of On- and Off-Chain transactions that can be completed by different users on the site.
The team has also included a frequently asked questions (FAQs) section. Services, features, and security concerns are just some topics covered in the extensive Frequently Asked Questions section.
The B2BinPay API makes it simple for businesses to add the benefits of blockchain technology to their payment processing in a way that is both efficient and secure. The B2BinPay platform was upgraded to provide new features and enhancements, such as Merchant Invoice Limits, Delta Amount, and support for Cardano (ADA).
100 New Tokens Are Now Active
B2BinPay’s Merchant and Enterprise versions now support a wider variety of currencies and tokens. WBTC, ANKR, GALA, IMX, and dozens of more tokens have been added.
Improved Merchant Models
B2BinPay has taken a significant step to better serve its clientele by updating its operations. Instead of just two models, the business now provides three: the Enterprise, Merchant with fiat settlement, and the new one – merchant with the crypto settlement. Users that choose the last one will have the option to create BTC or stablecoins such as USDC and USDT wallets.
Bottom Line
In the past year, B2BinPay’s development team has made significant progress in making the product even more accessible and reasonably priced for companies. B2BinPay is a great option for those wishing to start accepting bitcoin payments because it provides safe, quick, and dependable payment processing for businesses of all sizes. Customers can pick the best plan for their requirements from the many available options thanks to flexible payment options and low prices.
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NFTs (Non-fungible tokens)
NFTs are unique digital assets that are based on a new type of blockchain technology, that cannot be replicated. NFTs are taking the digital world by storm paving way for creatives since they link ownership to unique items such as artwork, music, videos, and real estate. NFTs use similar technology that powers cryptocurrencies, but their main difference is that they are non-fungible which means they are indivisible, while cryptocurrencies are fungible, and hence can be exchanged with one another for the same value.
From the year 2020 to 2021, the NFT trading market grew rapidly and was at its peak in the year 2021, whereby it increased to more than $17 billion over 2020’s which was $82 million. However, in the month of May 2022, there was a significant drop that led to the collapse of the 2022 NFTs trading market.
The drop in NFTs trading on popular platforms such as Opensea
Opensea is the largest non-fungible token market, that enables users to create, buy and sell NFTs. The NFT trading market dropped abruptly after its initial intensive growth which led to its rise in popularity. Several factors contributed to this plunge, but the main one was that over the last few months there was the sale the crypto assets. Due to this massive drop, Opensea had to lay off 20% of its employees, leading to unemployment. Some of the other factors that contributed to the huge drop included:
- The NFT fad attracted scammers, who set up fake websites and sell fake assets, this prompted people to not engage in the marketplace platforms.
- Plunge of even long-term investors-there has been a massive drop in trading of the crypto assets.
- Uncertainty among investors- Due to the increase in scams and theft, many items being sold are of low value, causing investors to be indecisive and quickly lose interest.
- Increase of interest Rates-Federal reserves have raised prices of risky assets, resulting in money being withdrawn from cryptocurrencies and NFTs.
How NFTs are still ‘alien’ to the ‘average joe’
As we earlier stated, NFTs are unique digital assets, and NFTs have unique features compared to cryptocurrencies. The main difference is that they are non-fungible; which means that they are indivisible. Each NFT has its digital signature and hence can’t be duplicated or be of the same value, unlike cryptocurrencies which are fungible and can be exchanged with one another. The following are aspects that make NFTs different from other cryptocurrencies:
- Uniqueness- Each NFT is unique from the others, other each has its digital signature, this aids in making it authentic.
- Scarcity-The main reason they have high value, is because they are limited hence they are rare. NFTs developers have the free will to generate assets as they intend and also limit.
- Indivisibility- NFTs are unalterable, which helps boost their profits since each NFT has a different value.
- Ownership-NFTs are within a distributed database and saved on a new blockchain that can’t be tampered with. This aids in associating ownership with a single private account. Only the owner can transfer the NFTs to any other account.
- Transparency-Buying and selling of NFTs are facilitated in a decentralized manner, and this means that with the digital systems records, buyers can verify the validity of a specific NFT.
How will the next bull market coincide with a transition period of people becoming more familiar with the use of NFTs?
NFTs are volatile and this means, that they are unpredictable and it is not easy to tell when the next market will go up. Wes from NFT agency Cude Design told us ‘A bull market occurs when the prices of assets increase, since May 2022, NFTs prices have gone down and hence it isn’t easily predicted when the prices will go up again. This will only happen when it is made easier to integrate NFT functionality with websites. One of the main problems facing many users is the fact that integrating functionality with websites is challenging due to the high cost.’
The cost is usually determined by the NFTs’ functionalities, and this at times draws away more users from the platform. High-quality assets are expensive and this also triggers away users. Due to the high level of scams happening in NFTs, cheap assets are of low quality and this also drives away investors. To curb this, prices should be lowered and NFTs should provide us with utility and value to enhance authenticity, so users know what they will get back after buying the NFTs. Although NFTs are indivisible, the value of NFTs is still questionable since someone can copy a photo and put it as their profile and claim it is theirs.
When NFTs create favorable conditions and open more cost-effective platforms, more users will be attracted and this will lead to the growth of stock prices promoting profitability. Leveraging also the interest ways is one way of attracting users and providing room for more new users. When users are many, competition will also increase and this will boost the stock prices which is important for corporate profitability. With this put in place, more long-term investors will be drawn and hence NFTs trading market will be the next great investment, we expect to see a boom of advancement of capabilities and use cases over the next 18 months.
Frequently asked question
- How can the cost of NFTs making be reduced?
The cost of NFTs can be reduced by using a less expensive blockchain or using lazy minting. One can also use the two-layer scaling solutions to reduce the gas fee, but still, maintain the security provided by the Ethereum blockchain.
Conclusion
NFTs are the next hot investments, in the coming future. With the implementation of new, favorable, prices will scale up high, and by this even exceed the previous $17-billion-dollar mark. From real estate to videos to music, and art, NFTs are indeed taking over the digital space creating opportunities for artists to grow and advance to a new level. NFTs have grown and for sure full potential is yet to be realized.
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Solcial Goes Live On Solana Mainnet, Betting Big On User Tokens And Community Ownership
December 19, 2022 – Road Town, British Virgin Islands (BVI) – Solcial, the first Solana-based social network that allows its users to create and share content that gets rewarded fairly, has just launched on Solana’s mainnet. Since November, Solcial has been invite-only as they finalized some key features. Now with more than 1,200 users onboarded, Solcial is betting big on creators and Web3 enthusiasts that want to explore new possibilities and new income streams.
Solcial allows creators to easily mint and sell their own tokens and even elect to hide content behind a paywall that requires others to hold a certain amount of tokens to access. This is what Solcial is calling the invest-to-subscribe model. Apart from tokens they also allow every user to mint and display NFTs directly on the platform. Being built on Solana means users will experience a quick, convenient, and low-fee experience compared to other networks.
“We felt the Web3 crypto generation needed a platform that wasn’t just building with a few crypto features but was solely crypto-focused. By looking towards new ways we can be decentralized and censorship-resistant we are confident creators will feel comfortable that their revenue streams won’t be interrupted by sudden bans or demonetization tactics that Web2 platform have implemented,”
– said Parker Hoeppner, Social’s Communications Lead.
What makes Solcial unique to other blockchain social networks is their focus on quality. Solcial’s reward mechanism rewards users that provide the most benefit and value, with the most upside. This aligns interests and discourages content and engagement farming with low-quality delivery.
“We didn’t want to just build a social network where the creators got paid, we want to even give their fans a way to earn. Completely shifting the incentive structure from keeping their attention to finding new ways to provide value,”
– added Parker Hoeppner.
Solcial is still rolling out its IPFS data structure which will be the first of its kind. Fully allowing users to post without censoring – only reasonable community moderation. The team is currently launching the iOS and Android apps, and deploying new updates such as encrypted private messages between users and other community requested features.
To learn more and mint your user token visit solcial.io
Media Contact:
Name: Parker Hoeppner
Email: [email protected]
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SmarterWorx (ARTX) Finds Lucrative Niche In Art Market As Opposed To GameFi Tokens MANA And ALICE
The cryptocurrency market is home to several projects, each of which fills a specific niche and is tailored to the use cases of the particular coins or tokens being created for the project. The different types of coins include utility, payment, stable, and security coins, whereas the different types of tokens include Defi tokens, NFTs, etc.
The untapped gold mine of cryptocurrency niches and the arts, for example, as well as cryptocurrency games and cryptocurrency real-estate or Metaverse development.
The Art Niche
When integrated into the cryptocurrency sector, the art market reflects the actual world-class with both material and immaterial goods.
People utilize the arts for a variety of reasons and have varied meanings for them depending on who they are. According to estimates, the global art market will be worth around $450 billion in 2023, and many investors will diversify their investment portfolios to include art pieces. The art industry is one of the best investment categories and has held that position for many years.
People frequently withdraw money from the stock market to invest in the arts during recessions because the arts serve as an essential hedge for investors.
By far and away, the SmarterWorx team wisely chose to base its project on the lucrative investment niche that art represents.
SmarterWorx (ARTX)
SmarterWorx is the pioneering project for crypto in the art sector. The platform brings together those interested in investing in cryptocurrencies and art. SmarterWorx is an inclusive initiative for a range of people, unlike other companies that just cater to crypto enthusiasts.
The native token of Smarterworx, ARTX, is the first cryptocurrency asset in the class of Arts to be backed up to a real-world asset. This means that in times of market volatility, extreme fear, or uncertainty, arts will maintain the floor price of the coin. From this, we can infer that ARTX will be a token that is recession-proof and protected from a market crash.
Holders of our NFTs have the option to swap their NFT collections on any NFT marketplace or redeem their corresponding art at any moment.
GameFi tokens (MANA & ALICE)
GameFi is a subset of cryptocurrency tokens that brings together gaming and decentralized finance. It operates on the P2E (play-to-earn) paradigm, allowing users to play blockchain games utilizing NFTs as game characters and earn prizes by the rules established before the game.
Given that there is no actual gaming environment and laws are complicated, the niche is highly vague. The Mana and Alice token is an example of a token used in this area that is not up to par since it operates online and has no real-world asset backing.
The Decentraland metaverse’s official currency is the mana token, which may be used to pay for products and services in the virtual world.
My neighbor Alice’s functional money is the Alice token (a blockchain game that operates on the metaverse).
The GameFi tokens lack real-world applications and are not asset-backed cryptos; the ARTX token, on the other hand, makes up for both shortcomings by being an art-backed token.
For More Information:
Join Presale: https://smarterworx.io/buy/
Website: https://smarterworx.io/
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Metaverse Tokens ApeCoin, Decentraland Struggling to Stick, While Flasko Redefining Alternative Investments
The advent of cryptocurrencies has opened the possibilities to reimagine how different the financial system could be. Some of these technological advancements have been adopted by society, and more than a few individuals have made banks due to the hype and speculation surrounding them. Metaverse-related tokens ApeCoin (APE) and Decentraland (MANA) are examples of these. Yet, their prognosis doesn’t look good in 2023.
Solid, value-added projects in presale like Flasko are becoming the gold standard of the crypto industry moving forward. Let’s examine these three cryptos and determine which one is the most desirable to invest in this coming year.
ApeCoin (APE): Collapse Highlights Lack of Investor Interest
ApeCoin (APE) was launched last March 2022 as the utility and governance token of the Bored Ape Yacht Club and its ApeCoin DAO. The hype surrounding the launch saw ApeCoin (APE) make big strides just before the crypto industry plunged into its worst winter ever, but since then, ApeCoin (APE) has fallen into a terminal free-fall. ApeCoin (APE) holders can vote on governance proposals and use them as a utility token for ApeCoin (APE) services and games.
However, ApeCoin (APE) has already seemingly seen its best days––the current price of $4 represents an 85% decrease in all-time high value and is representative of the lack of interest people have in BAYC and the NFT market in general.
Decentraland (MANA): Price on Dramatic Fall
Decentraland (MANA) made serious waves in the hype of 2021’s bull run and metaverse mania. Decentraland (MANA) is a blockchain protocol enabling a decentralized virtual reality platform similar to the concepts of the metaverse. Decentraland (MANA) users can buy, sell, or rent virtual real estate parcels stored on the Ethereum (ETH) blockchain, opening up new revenue streams for creators and tokenholders alike. Decentraland (MANA) launched at a presale price of $0.024, which hit an all-time high of $5.90 in November 2021.
However, Decentraland (MANA) prices have fallen to $40, a dramatic 93% fall from grace. It represents the market’s lack of appetite for speculative metaverse plays.
Flasko (FLSK): Can Run to the Top 100 in 2023
Revolutionary alternative investments platform Flasko is combining NFT technology with the rare wines, champagnes, and whiskeys asset class which has generated better gains than gold or traditional equities and stocks in the past several decades.
Crypto enthusiasts can invest in fractionalized NFTs backed by real bottles of luxury wines, champagnes, and whiskeys and benefit from their constantly appreciating prices. Full NFT holders can redeem them for the bottles that they represent and have the bottle itself delivered to any location they wish.
Flasko will also partner with companies in the rare wines industry and help them launch their products to new audiences while providing Flasko users exclusive access and discounts.
Flasko has ensured the essential conditions for success and security by locking team tokens for three years with a three-year vesting period. Moreover, platform liquidity was frozen for 33 years. That’s not to mention that Flasko has been fully audited by Solid Proof, making it a very safe long-term investment.
Flasko presale prices are available for $0.111, a great time to enter into a project expected to hit the top 100 by 2023. Investing in Flasko now can give your platform the boost it needs to get into the green.
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ETH Whales Unload Their Stack of Shiba Inu Tokens and Accumulating This Altcoin
One of the most popular meme currencies, Shiba Inu, failed to make investors happy with its lackluster performance because it only managed to boost its price by over 2% during the past week. Amid the poor performance and the dramatic events in the past few weeks, Shiba Inu has lost its position as the most popular cryptocurrency among the Ethereum whales.
Selling pressure in the cryptocurrency sector happens when the majority of traders sell their holdings, indicating that they believe the asset’s price will decline. Shiba Inu is no longer the largest holding among the top 100 largest Ethereum whales, according to WhaleStats. Decentraland (MANA), according to the data, is currently the largest token held by ETH whales.
On November 29, the whale tracker showed that the top 100 ETH whales own Shiba Inus valued at more than $68 million. However, whales currently own MANA coins worth $1.05 million. It’s said to represent 35% of the overall stake.
On the same platform, the top rich list reveals that SHIB continues to be the preferred cryptocurrency of the biggest Ethereum investors. It is still held by other whales who have less than $100 million in this coin.
Conclusion
Despite Shiba Inu’s poor price prediction and performance, Ethereum whales have not given up on the meme coin. Shiba Inu’s price is falling, while the MVRV (Market Value to Realized Value) ratio of the token is rising. These metrics suggest that the cryptocurrency may be preparing for a new bullish run soon.
While Shiba Inu’s price has increased massively compared to last year, the price was also impacted by the cryptocurrency crash that occurred in May and now by the FTX collapse. Some investors anticipate the coin to grow in the upcoming month.
However, they had the backing of Ethereum whales, who have now fallen behind. The social metrics’ evaluation of SHIB’s success had likewise been underwhelming. According to data from Santiment, social dominance increased slightly to 0.898%.
Will Ripple’s Possession of XRP Tokens Create a Problem in the Ongoing Case?
With the issuing of a Summary Judgment, the long Ripple vs SEC case which had various twists and turns is moving toward the final phase. According to reports, defense lawyers for Ripple and the US SEC have begun submitting sealed responses to plaintiffs’ objections to their requests for summary judgment. However, the fact that Ripple benefited from owning a significant quantity of XRP will continue to be a hot topic in the lawsuit.
According to reports, less than 50 billion XRP coins are in Ripple’s possession. It was also mentioned that the company only runs four of the 130 validator nodes on the XRP Ledger (XRPL).
John Deaton, an Amicus Curiae and the attorney for the XRP holders in the matter, made it clear that Ripple is prepared to defend itself in court. According to him, the defendants are aware that the judge would probably bring up this issue. Ripple will bring up the De Beers Diamond Company to their defense.They said that the diamond industry owns 30% of the market for diamonds.
Will LBRY’s negative ruling have an impact on Ripple?
Attorney James K. Filan’s most recent reports indicate that the court has approved LBRY’s request for a briefing schedule regarding the commission’s requested remedies. In the document submitted, LBRY claimed that during a status conference on Nov. 21, it gave the SEC a settlement proposal on Nov. 25.
On Nov. 29, following the submission of the settlement proposal, the parties met to discuss the terms, but they were unable to come to an agreement regarding the remedies requested by the regulator.
The SEC sued LBRY at the beginning of 2021 over the illegal sale of LBC tokens. Since then, the case has received a lot of attention since it raises the frequently disputed question of whether cryptocurrencies are securities or not.
Tora Inu Is The Ideal Place To Start If You Have Never Invested In Meme Tokens
With Shiba Inu’s 50,000,000% price increase in the last year acting as a reminder of the potential profitability of these internet trend-inspired coins, the idea of meme coins has grown to become one of the most discussed investment prospects in the cryptocurrency sector.
And while it’s difficult to deny the enormous upside potential of meme coins and their mascots’ apparent innocence, it’s vital to keep in mind that investing in meme coins is a very dangerous endeavor that frequently leads to enormous losses due to fraud, hacking, and exploitation. In addition, there are risks associated with joining the bandwagon out of a sense of not wanting to miss out and seeing your new investment tank as the meme mob goes on to other bright goods.
How to Invest in Meme Coins Securely?
Currently, there are over 250 meme currencies competing for cryptocurrency investors’ attention. among which one hundred have the term “inu” in their names. The bulk of cryptocurrencies inspired by memes is essentially scam initiatives meant to profit from the expanding meme coin craze, even though many of them may appear to be legitimate. By making sure that the project is not vulnerable to rug pull scams, you may lower the dangers.
For those who are not familiar with the phrase, a rug pull is when the development teams sell out all of their coins all of a sudden after raising the price. When the value of that coin suddenly drops to zero, investors are the ones who get the short end of the stick and are left penniless. Two of the most recent examples of meme coins that allegedly resulted in a rug pull are squid tokens and snow dog.
Here are Five Reasons why Tora Inu is Secure For Investment
- Play-to-Earn Platform: Tora Inu will launch its play-to-earn (P2E) platform and immediately go up against Floki. Users of the P2E game will be able to gain TORA tokens while playing. Users must buy an NFT, which gradually levels up as players engage in combat with one another or the environment. Additionally, customers receive incentives following every in-game triumph, so there is no delay in receiving money.
- Audited Deflationary Token: The Tora Inu blockchain has a burn and redistributes mechanism that will increase its value as the ecosystem grows more well-known. A little portion of each transaction is burned in the deflationary mechanism, which will cause it to defeat FlokiInu in 2023. The token becomes more valuable as its demand rises and its supply declines at the same time.
- Marketing Powerhouse: The Tora Inu team has extensive expertise working on social media marketing campaigns on sites like Twitter, Reddit, and Telegram. The initiative already had more than 16,000 Twitter followers before it ever started. To reach the levels that Dogecoin and Shiba Inu were able to, meme coins often need a sizable community and significant buying pressure.
- Capitalist Venture: It’s significant to emphasize that the project is not supported by venture funding. Tora Inu is a grassroots initiative that was created from the ground up with no venture capital funding. The project didn’t have a private sale, whitelist sale, or seed sale. Instead, TORA’s token sale was completely open to the public, something that hardly occurs in the meme coin industry.
- Astronaut-Incubated Presale:The public can currently participate in the presale, which uses an incremental price increase strategy. The presale’s first round offers the cheapest chance to purchase tokens, with the price rising gradually in each succeeding phase. Astronaut Launchpad, the safest launchpad on BSC, incubated Tora Inu and created their presale contracts.
Disclaimer: This is a press release post. Coinpedia does not endorse or is responsible for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company.
Chainlink (LINK) and NEO (NEO) Investors Dump Their Tokens To Back Flasko (FLSK) Presale
Since the significant drop in the crypto market in 2021, key cryptos have been plummeting and inflicting millions in losses on investors, making the crypto industry exceedingly unstable. Flasko, a new cryptocurrency platform with promise, is gaining popularity despite the current situation of the market.
There has been a lot of buzz among cryptocurrency traders about the newly launched Flasko presale. The innovative Flasko platform is predicted to excel in comparison to other digital currencies like Chainlink (LINK) and NEO (NEO).
The Value of Chainlink (LINK) Has Severely Declined
Nearly a million people have added Chainlink (LINK) to their cryptocurrency watch lists, making it one of the top 25 cryptocurrencies on Coin Market Cap. This illustrates that it has made some decent strides in the bitcoin sector since its beginning in 2017. Last year’s bull market advance was the finest moment to invest in digital currency, as prices soared to a record high of USD 52.88.
Chainlink (LINK)’s price has plummeted since then. Chainlink (LINK)’s current price has plummeted to only $5.8, which is extremely low. Chainlink (LINK) tokens provide the power for the network’s blockchain, which enables smart contracts to make use of information stored off-chain in the Chainlink (LINK) network.
Investors in Neo (NEO) Maintain Positive Attitudes
There aren’t many other cryptocurrencies like Neo (NEO). Therefore, it’s worth keeping an eye on and maybe even investing in if you want returns in the long run. Once worth three figures, the digital asset is now worth less than $6.71.
When talking about a blockchain network or ecosystem, the Neo (NEO) token represents the local currency. Neo (NEO) is a blockchain platform that is developing and upgrading to fulfill the needs of the blockchain industry in the future. Cryptocurrency assets are designed to last for a very long period since they are resistant to technological change. Long-term investors will be pleased by its increased utility, acceptance, and value.
Flasko Likely To Be The Best Investment Of 2023
Flasko aspires to be among the first cryptocurrency-focused alternative investment platforms in the wine, whiskey, and champagne sectors as fractionalized NFTs. To do this, it will facilitate the investment of fractionalized NFTs that are backed by actual bottles of high-end, premium whiskeys, wines and champagnes
Flasko’s creators will also launch a marketplace for up-and-coming premium beverage brands.
Solid Proof, an established auditing company, has completed its audit of Flasko. Moreover, the Flasko team will freeze team tokens for two years and lock liquidity for 33 years to demonstrate their commitment to the project over the long term.
The second stage of the presale has begun, and it has already been an enormous success. Cryptocurrency experts have speculated that the current $0.085 price will climb to $6.7 in February 2023.
Check out Flasko right now by clicking on the links below:
Website: https://flasko.io
Presale: https://presale.flasko.io
Telegram: https://t.me/flaskoio
Disclaimer: This is a press release post. Coinpedia does not endorse or is responsible for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company.
Whales Stacking Huge XRP Tokens with Rumors of Ripple VS SEC lawsuit Settlement!
The post Whales Stacking Huge XRP Tokens with Rumors of Ripple VS SEC lawsuit Settlement! appeared first on Coinpedia Fintech News
Data from WhaleAlert shows that over 225 million XRP tokens have been traded on and off of cryptocurrency exchanges by whales. Despite the increasing volatility in the cryptocurrency market, whales have collected more than 165 million XRP tokens in the last 24 hours. The entire worth of the whale collection is around $61 million.
The highest whale accumulation, as determined by the tracker, came from the cryptocurrency exchange Bitstamp and is valued at nearly $20.3 million. These whales have additionally contributed more than 96 million XRP from the same exchange when taken together.
By November 30, Ripple’s response to the SEC’s brief on the summary judgment request might be sent to the judge, which is seen to be crucial at this point. John Deaton, the lawyer defending XRP investors in court, also mentioned the settlement’s terms. He asserted that a Settlement would occur either when the SEC provided Hinman’s documentation or when the LBC token from LBRY would be asked to be recognized as a security.
Casper Kava Compound & How Toon Finance Succeeds All of These Tokens
Toonie Takeover
The month of November is an important one for the crypto world. Not only is it the month when Bitcoin halving occurs but Ethereum 2.0 is also expected to go live. This will have a significant impact on the prices of Ethereum-based assets such as Compound, Kava, and Casper. In this blog post, we will take a look at the price predictions for these three assets for the month of November.
Compound Price Prediction For November
Compound is a protocol on the Ethereum blockchain that allows users to lend and borrow cryptocurrencies. The protocol is governance-minimal with an aim to provide users with a simple and easy to use interface. The COMP token is used to incentivize good behavior on the network and to reward users for participating in its governance.
The price of COMP has seen a steady increase since the beginning of October and is currently trading at $152. With the launch of Ethereum 2.0 on the horizon, we expect the price of COMP to continue to increase throughout the month of November. Our prediction is that COMP will reach $200 by the end of November.
However, this prediction is only valid if Compound and its token $COMP continue to deliver on their promises. That being said, Compound users have been slowly in decline for a few months now because of Compound’s failure to provide an adequate return on investment. Compound has also been slow to onboard new users, which has led to a decline in the Compound userbase. If Compound cannot turn things around soon, it is likely that the platform will continue to lose users and fail to meet the expectations of its investors.
Barring a few problems, $COMP is on its way to becoming a top company for their investors and community. They have strong relationships with their partners, and they are always looking for new ways to improve their products and services. They are also constantly innovating and expanding their reach. In addition, they are very responsive to their customers’ needs and always try to provide the best possible experience. As a result, $COMP is well-positioned to become a top company for their investors and community.
Kava Price Prediction For November
Kava is a decentralized finance platform that offers cross-chain lending and borrowing services. The native token of the Kava platform is KAVA which is used to secure the network and to reward users for participating in its governance.
The price of KAVA has been on a slight uptrend since mid-October and is currently trading at $3.45. We believe that with the launch of Ethereum 2.0, the price of KAVA will increase significantly as more users flock to decentralized finance protocols. Our prediction is that KAVA will reach $5 by the end of November.
KAVA’s eventual trip to the moon is almost certain at this point, but there is one thing holding it back; KAVA relationships with bad actors and anonymous entities. KAVA has been said to be involved in some shady companies and deals with individuals that are highly questionable.
This creates a large amount of risk for KAVA holders as these bad actors could easily bring down the entire project. However, KAVA has been working hard to distance themselves from these bad actors and have even gone so far as to burn all KAVA tokens associated with them.
KAVA is also working on increasing transparency and will soon be audited by a Big Four firm. Once KAVA cleans up its relationships and increases transparency, there is no doubt that it will make it to the moon and beyond.
Casper Price Prediction For November
Casper is a proof-of-stake consensus algorithm that enables users to earn rewards for staking their tokens on the network. The native token of the Casper network is CASP which can be used to vote on governance proposals and to pay transaction fees.
The price of CASP has been relatively stable over the past few weeks and is currently trading at $0.15. We believe that with Ethereum 2.0 going live in November, there will be an influx of users looking to stake their ETH on Casper which will lead to an increase in demand for CASP. Our prediction is that CASP will reach $0.20 by the end of November.
Casper’s low trading volume and lack of liquidity backing it up doesn’t stop it from gaining momentum, but it’s only a matter of time before it catches up with the project and crash and burn. Casper is a cryptocurrency that uses the Casper algorithm to reach consensus. The project has been around for a while, but it has only recently gained traction. The problem with Casper is that there is very little liquidity backing it up. This means that there are not many people trading Casper and there is not much volume. This makes it difficult to trade Casper and it also makes it more volatile. The lack of liquidity also means that the price of Casper is more likely to crash. Casper does have some things going for it, but its low volume and lack of liquidity make it a risky investment.
A New And Improved Challenger: Toon Finance
Toon Finance is one of the top contenders for the number 1 spot. Compound, KAVA & Casper’s failings could literally spell out Toon Finance’s success. Toon Finance is made up of a dedicated team of anonymous developers (just like Pancakeswap) and they are focused on making the project truly decentralized.
While Toon Finance is still in it’s early stages, they have already accomplished what most projects haven’t been able to do. They have a working product, an engaged community & they are constantly pushing out new updates. All of these factors put Toon Finance in a great position to be one of the top DeFi protocols in the near future.
Here are the links of the Toon Finance Project:
Website: https://toon.finance/
Presale: https://buy.toon.finance/
CoinMarketCap: https://coinmarketcap.com/currencies/toon-finance/
Disclaimer: This is a press release post. Coinpedia does not endorse or is responsible for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company.
Governance Tokens Toncoin (TON), Compound (COMP) And Snowfall Protocol (SNW) Rise After FTX Collapse!
Two Governance tokens – Toncoin (TON) and Compound (COMP) – have lifted the mood of crypto investors with their performances in the market after the shock implosion in the FTX exchange.
There is also a new Governance token from Snowfall Protocol (SNW), which is rapidly gaining investors’ trust. The governance token of a decentralized blockchain-based platform plays an important role in ensuring that decision-making is not dependent on the whims and fancies of a single individual.
As seen in the FTX collapse case, wrong decisions of the exchange’s founder have affected millions of crypto investors. The strong growth of Toncoin (TON) and Compound (COMP), and the rising popularity of Snowfall Protocol (SNW), in the days following the FTX collapse shows that investors are now seeing more value in decentralized projects. This article takes a look at how Toncoin (TON), Compound (COMP), and Snowfall Protocol (SNW) are performing.
Toncoin (TON) jumps 27% in 7 days
Though most cryptocurrencies are in the red since FTX implosion, Toncoin (TON) has emerged as one of the few coins trading in the green. As per CoinMarketCap data at the time of writing, Toncoin (TON) price has increased by over 27% in the last 7 days. Toncoin’s (TON) price has jumped more than 38% in the last 30 days to $1.73. While the price of Toncoin (TON) is still 67% below the all-time high (ATH) of $5.29 on 12 November 2021, it can bridge the gap fast if the present rally continues.
Toncoin (TON) is the native token of The Open Network, which is an independently developed iteration of the TON (TON) blockchain project, designed by the team behind Telegram. Toncoin (TON) is used for payment of transaction fees, securing the network, and voting on governance proposals.
Compound (COMP) shows strength in a falling market
Compound (COMP) token has remained strong in the falling market since the FTX collapse. CoinMarketCap data shows the price of Compound (COMP) token has jumped nearly 16% in the last 7 days to $39.70. Though the Compound (COMP) token’s price remains over 95% below the ATH of $910 on 12 May 2021, its strong performance in the last few days has soothed the nerves of investors.
Compound (COMP) serves as a governance token of Compound (COMP) network, a DeFi protocol that allows users to borrow or lend cryptocurrencies. Compound (COMP) network is one of the few crypto projects completely governed by token holders. Each Compound (COMP) token is equivalent to one vote on the network. Compound (COMP) network was recently in news after the token holders unanimously voted to pause activities for four cryptocurrencies – ZRX, BAT, MKR, and YFI – to protect users against a potential market manipulation attack.
Snowfall Protocol (SNW) surges in popularity and price
Joining the big league of Governance tokens, Snowfall Protocol’s (SNW) token has gained in popularity and price. Currently in presale, the price of Snowfall Protocol (SNW) token has jumped 500% to $0.030. Snowfall Protocol (SNW) is also attracting a lot of users with its unique features.
As a multi-chain compatibility protocol, Snowfall Protocol (SNW) facilitates transfers of both non-fungible and fungible tokens. Snowfall Protocol’s (SNW) cross chain bridge has been designed to facilitate communication among blockchains.
Snowfall Protocol (SNW) gives governance rights to token holders in Snowfall Protocol’s DAO. The Snowfall Protocol (SNW) token also serves as a utility token of the Snowfall Protocol (SNW). As more buyers are showing interest in Snowfall Protocol (SNW), the price of this token is expected to jump fast. Analysts are predicting that Snowfall Protocol (SNW) could be the next 1000x token.
Click the links below to learn more now!
Presale: https://presale.snowfallprotocol.io
Website: https://snowfallprotocol.io
Telegram: https://t.me/snowfallcoin
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Crypto.Com Halts Withdrawals Of These 3 Tokens
Following FTX’s collapse, speculation around other crypto exchanges going bankrupt has increased. Crypto.com is facing maximum flack at the moment as it accidentally transferred nearly $400 million in Ethereum to a whitelisted Gate.io address instead of a new cold storage address.
Reportedly, nearly 90,000 unique transactions have been made in the last few hours. This indicates that customers are trying their best to withdraw their funds from the exchange, and people are losing trust in it.
Altcoin Daily, a popular YouTuber and crypto analyst, decides to take up this topic, informing his 1.26M Youtube subscribers about how the users are reacting. He also highlights the firm’s CEO Kris Marszalek’s points that were shared in his Q&A session.
Firstly, the analyst talks about users who have raised their concerns, and one such mention is Martiny Guy, who has claimed that his Crypto.com withdrawal of 2BTC is still pending 24hrs. The user also says that the firm may be bankrupt.
Next, the host discusses many unanswered questions that CEO Kris Marszalek has spelt out in his recent Q&A session with Crypto.com’s CMO Steve.
The first question was whether or not Crypto.com had stopped withdrawals. Kris immediately denied that claim and said they were operating as usual. He also claimed that the activity over the platform has increased, which means more revenue with increased trading volume.
Kris clarified that the firm has only stopped the withdrawals of three coins: Gala, SRM, and Array.
The next important question that was addressed to Kris was, “How was $400M of ETH accidentally transferred to the wrong wallet.”
The CEO clarified that every address to which the funds have been transferred is whitelisted, and if there is any mistake, the systems will ensure that the funds are returned. He acknowledged the mistake and reassured the audience that Gate.io has returned all the funds.
Next, Kris was asked one of the most critical questions, which is perhaps playing on everybody’s mind:
Is Crypto.com in financial trouble?
He addressed it by saying: “These comments have been made for a few years now, and all I can say is we will do what we have always done. We will prove people wrong with our actions and not words.”
He was also asked to clarify why his firm holds more SHIB than ETH- which is another major cause of panic for the investors. As per him,
“It’s one-to-one, and we have stored whatever the customer was buying. Last year people bought more DOGE and SHIB coins, and they are still holding it. Hence, as long as our users are holding, we will be holding it too.”
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Limited Availability Of Tora Inu Tokens Is Pushing Its Presale Closer To Be Sold Out
The limited availability of Tora Inu tokens is pushing the TORA presale closer to the end of the current phase as the tokens continue to sell out quickly. So far, Tora Inu has managed to raise over $300,000 in a short period of a few weeks as investors rush to purchase the new era memecoin.
It seems that memecoin hunters are excited about the token’s deflationary mechanism, its P2E platform, and strong marketing plans as they hope to earn a profit once the token finally launches on Tier-1 exchanges.
Unique Deflationary Mechanism Causing Presale to Sell Quickly
The Tora Inu presale started October 20th and has raised over $300,000 in under two weeks of going live. Investors are rushing to Tora Inu as they are excited about the coin’s unique deflationary and redistribution mechanism.
Tora Inu comes with a unique burning mechanism that reduces the token supply as the platform becomes more popular. A 3% buy and sell tax occurs on every transaction. The tax is used in burning and redistribution, creating favorable tokenomic conditions for investors. Eventually, the deflationary mechanics will cause a supply shock for the token, making it more scarce over time. This should help TORA’s value to explode if the demand remains consistent or continues to grow.
Although deflationary mechanisms have been used in previous memecoins, the redistribution design is novel as it rewards long-term TORA holders through the tax feature.
Enjoyable P2E Game That Isn’t Pay-to-Play
According to the roadmap, investors are also keen to participate in the unique play-to-earn game that Tora Inu will release in Q3 2023. This P2E game is set to raise the standards in the industry as it will be entirely skill-based – removing the option for players to pay to improve their stats.
Users will need to purchase an NFT to participate in the P2E ecosystem, which comes with stats that are slowly buffed over time as the player wins games against other players and the environment.
Typically, P2E games allow users to buff their stats by paying a fee. However, the team behind Tora Inu believes this needs to be revised as it’s different from how games should be. As a result, they will not provide a method for players to pay their way into achieving higher stats – making it a skill-based ecosystem in which the best players are the ones who will be rewarded the most.
Furthermore, another unique aspect of the P2E game is that the rewards won’t come from liquidity reserves. Instead, most of the rewards will come from players who stake TORA tokens into a pool to play the game. As a result, this increases transactions on the blockchain triggering the redistribution and burning mechanism, further making TORA more deflationary.
Strong Marketing Campaign Lines Up
The team behind Tora Inu is KYC’d, and Solidproof verified the contracts.
They have extensive marketing experience, and they understand for the token to become popular, it will need intense buying pressure and a large community to take off and reach the moon. As a result, the team has prioritized a colossal marketing campaign to promote the token on the most popular publications in the crypto industry.
Furthermore, the Tora Inu team understands that the token needs to be listed on multiple tier-1 exchanges to reach the heights of Dogecoin and Shiba Inu. Therefore, they have a CEX marketing drive listed as one of the milestones on the roadmap to get TORA listed on tier-1 and tier-2 exchanges.
They already have a tier-1 exchange lined up to list TORA on launch – but they are trying to keep the name of the exchange a secret. However, there are subtle hints on the Tora Inu homepage that it could be listed on OKX.
Overall, Tora Inu is set to be one of the outstanding dog memecoins in 2023, and the presale is the perfect opportunity to invest at the lowest prices.
Buy Tora Inu Now
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Why Binance is Liquidating FTX Tokens?
Recently, the CEO of Binance, Changpeng Zhao, said on Twitter that the business had made the decision to sell all of its FTX (FTT) tokens as a result of “recent disclosures that came to light.”
Later, CZ said the FTT liquidation was “simply post-exit risk management,” citing the lessons learned from Terra Luna Classic’s (LUNC) demise and the effects it had on market participants.
We won’t assist individuals who push against other industry players behind their backs, he continued.
Zhao stated that the transfer of almost 23 million FTT, worth $584 million at the time, from an unidentified wallet to Binance was a part of the exchange’s token unloading.
Top 3 Crypto Meme Tokens With The Best Roadmap To Add To Your Portfolio
Meme coins are not ready to settle for the meme tag anymore. They’re exploring new use cases and integrations to stay relevant in the long term, even after the hype dies. Here are three meme tokens with the most promising roadmaps.
1. Tora Inu (TORA) – Meme Coin with the Highest Growth Potential
Tora Inu is the latest meme coin craze. Crypto investors are stocking up on TORA at the ongoing presale for a discounted price, hinting at an early sell-out. Given that industry experts predict a 100X growth for the token next year, the presale offers the most profitable way into the project
$TORA will enter the billion-dollar club a few weeks into the public launch, judging by the hype around the project. However, what sets apart the project from the myriad of meme coins in the market are its long-term vision and utility-driven roadmap. Tora Inu’s rich NFT, play-to-earn, and metaverse integrations make it one of the most promising crypto projects.
Tora Inu’s much-awaited milestones in the near future include the launch of a core skill-based play-to-earn game, additional mini-games with NFT integrations, lottery mini-games, and an NFT marketplace. The play-to-earn ecosystem will feature lower barriers to entry and reward users for their gaming performance, more than their initial capital investment.
In addition, Tora Inu puts forward some robust business mechanisms directed at building sustainable value and a loyal user base. Tora Inu has a deflationary tokenomics that ensures that the token gains value over time, taking advantage of a supply squeeze. It also allows users to stake their TORA holdings in exchange for attractive interest on their assets.
Tora Inu’s creative marketing campaigns are also worth a mention from the meme coin aspect. Currently, Tora Inu has an exciting giveaway worth $25,000 live on Gleam for presale participants. Join the Tora Inu community on Twitter and Telegram to receive the latest updates about the project.
2. Dogecoin – Meme Coin Pinned to Elon Musk’s Tweets
Dogecoin is the earliest meme coin to taste success. While the project doesn’t have a strict roadmap, “it is a community-driven, consensus-based open-source project whose direction is formed by the many individuals and organizational contributors to the various projects of the Dogecoin blockchain and ecosystem.”
Launched as a satire on the speculative crypto community, DOGE currently ranks #8 on CoinMarketCap. It is now considered a blue-chip crypto is owing to its expanding use cases and integration. Not to mention the occasional pumps from Tesla CEO Elon Musk.
For example, Dogecoin witnessed a 145.0% upward swing this week, cashing in on Elon Musk’s takeover of Twitter. The coin may still be 80% down from its all-time high, but things look bright for DOGE investors. It is predicted to recover much of its value if it focuses on integrating more utilities.
Given that the crypto market gets back on its feet and Musk announces new DOGE integrations, the meme coin will reward investors lucratively next year.
3. Floki Inu – Meme Coin with a Vibrant Metaverse in the Offing
Of course, Floki Inu secures third place on the list. The project is currently on a mission to reclaim its value, which is 96.5% down from its all-time high.
Floki has revived its roadmap and is now working on an NFT gaming metaverse called Valhalla, an NFT and merchandise marketplace called FlokiPlaces, and an education platform called the University of Floki.
The diverse ecosystem has the potential to reinstate FLOKI’s lost glory, as revealed by its 74.7% pump in the last seven days. Much of it may have to do with the meme coin mania, but Floki Inu’s potential use cases also accelerate the trend.
Disclaimer: This is a press release post. Coinpedia does not endorse or is responsible for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company.
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Crypto Tokens That Are Built To Reward Their Community And Value Loyalty
Cryptocurrencies are inherently designed to benefit the end users, but unfortunately, not all tokens are focused on rewarding loyal communities. There are definitely some projects that are more focused on gifting users for their patience and support than others.
There is no better example of that than Tora Inu (TORA), a revolutionary meme coin that is devising many ways for users to be rewarded. Of course, there are others, but Tora stands out as one of the most successful in this regard.
TORA and Others Rewarding Communities
If we’re talking about crypto tokens that reward loyalty, then we cannot start without talking about bitcoin. Yes, bitcoin is the oldest asset on the market and perhaps an unexpected answer. However, given that Bitcoin’s whitepaper recently celebrated its 14th anniversary, it’s worth talking about the token that has rewarded holders year after year.
Of course, there are others like the many DEX tokens or LP reward tokens in the market. Those have done a fantastic job of retaining users by offering solid incentives.
One project that’s taking a completely new approach is Tora Inu – which believe it or not is a meme coin. Meme coins may not seem like the ideal place think to about rewards for loyalty (though they do have strong communities, given their loyalty, TORA is changing all of that.
Tora Inu’s tokenomics has a burn mechanism that redistributes rewards, which results in a reduction in supply and an increase in demand. As a result, the token becomes more valuable as more transactions take place on the network.
Tora Inu’s ecosystem has a lot going for it.
Tora Inu will also have a P2E game where players battle fight each other or the environment with their NFTs. There will also be a metaverse where players can interact with each other and purchase land.
The TORA presale implements an incremental price increase method which will see the price of the TORA increase as it is sold across its various phases. The project has not hosted a private sale, with there being only the beta sale until phase 3.
Tora Inu is Setting a Great Example
If you want users to continue to be a part of your ecosystem, you’ve got to reward them. You’ve got to show them that their patience matters. There are some existing projects that already do this well, but also new ones that are introducing great features with several streams of value. Tora Inu is setting an example of how projects should do this, while also changing up the meme coin niche.
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Plona (PLON) Sells 140 Million Tokens While Stellar Lumen (XLM) and Chainlink (LINK) Continue to Struggle
There might be much to look forward to as we close in on 2022, the year we witnessed several unpredictable changes amongst crypto market competitors in the blockchain industry. Despite having strong starts, cryptocurrencies like Chainlink (LINK) and Stellar Lumen (XLM) are currently declining.
However, there isn’t much need for concern, as blockchain and cryptocurrency experts have concluded that the market will rebound by next year. Amid so much obscurity around the state of the cryptocurrency market, a group of stand-out blockchain professionals and car enthusiasts recently introduced a brand-new coin called Plona (PLON).
Will the new Chainlink (LINK) update be beneficial?
Chainlink (LINK) recently found its way to the news for releasing its latest update, the Chainlink node software version 1.9.0. With this version, Oracle jobs would be more capable and flexible while facilitating node management.
This development appeared to be quite favourable for Chainlink (LINK). However, Chainlink (LINK) still saw a decrease of more than -5% during the past week, as the update had little to no effect on the coin’s chart, according to CoinMarketCap. Although Chainlink (LINK) may have expected a different result, the latest update is still one to be optimistic about, as we might see it gain back momentum at any time.
Does Stellar Lumen (XLM) still stand a chance in the blockchain industry after a -57% YTD decline?
Stellar Lumen (XLM), or Stellar, is a decentralised protocol that enables cross-border transactions between any given currency in the blockchain. Given its open-source nature, Stella (XLM) allows low-cost transfers from digital currency to fiat.
Given the virtual coin’s capacity for price growth, it is simple to see why traders could choose Stellar for their long-term trading strategy. That being said, Stella Lumens (XLM) saw a -5.90 decrease over the week and an over -57%year-to-date (YTD) drop. Investors in Stellar (XLM) will keep a close eye on the coin as they might look for alternative tokens to purchase during its downward state.
Analysts Predict Plona (PLON) platform to sell 140 million tokens in presale.
If exotic vehicles pique your interest, then you are in luck because of the recent arrival of a cryptocurrency named Plona (PLON). PLON is a cryptocurrency backed by professionals who advocate for fractional ownership of luxury vehicles through tokenisation. Plona has many eye-catching opportunities for investors, one of which can be found by spending $29 on Plona (PLON), which will allow you to own a portion of various luxury cars located across the world.
It is in Plona’s (PLON) interest to help the community in any way. Plona (PLON) is giving back to the community by donating 2% of its tokens to charity, while 32% of Plona (PLON) tokens will go toward its presale phases, and 14% will go into its marketing field. As its phase one presale is undergoing, Plona (PLON) tokens are selling rapidly. Crypto enthusiasts expect all 140 million tokens will be purchased by the end of its presale. If Plona (PLON) sounds like the token for you, consider purchasing it now before it is too late.
Follow Plona (PLON) using the following links to discover more:
Presale: https://buy.plona.io
Website: https://plona.io
Twitter: https://twitter.com/plonatoken
Telegram: https://t.me/plonatoken
Disclaimer: This is a press release post. Coinpedia does not endorse or is responsible for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company.
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These Tokens Are Gearing Up For a Massive Move in the Coming Days! Here Are the Watch Levels
The overall crypto market has plunged in a couple of two days as the bears have yet again taken control against the Bulls. The leading cryptocurrency, Bitcoin has lost its crucial $19,200 area, and the second largest cryptocurrency, Ethereum has also dropped below $1,300 along with Chainlink, XRP, Solana, and Cardano among others.
Meanwhile, amidst such pullback, a well-known crypto analyst is predicting a bullish stance towards Ethereum and Chainlink.
Ethereum (ETH)
The analyst who is anonymously known as Altcoin Sherpa, informs his 184,900 followers over Twitter that Ethereum is at a crucial price trade. But he claims the currency is all set to gain 38%.
He believes Ethereum will surge to trade between $1,600 and $1,800 in the next bull run
Currently, Ethereum is changing hands at $1,297 after a fall of 2.15% over the last 24hrs.
Chainlink (LINK)
Next, Altcoin Sherpa talks about Chainlink (LINK) where he asserts that LINK will soon move above its current narrow tradeline. He says this move will gain huge profits along with some mid-investments.
At the time of reporting, Chainlink is selling at $6.96 with a drop of 3.10% in the last 24hrs.
Avalanche (AVAX)
On a bearish note, the analyst claims a massive decline of 36% for Avalanche (AVAX) hitting a target of $10. Hence he suggests not buying AVAX for now.
At the moment, Avalanche is selling at $15.52 with a decline of 3.43% over the last 24hrs
Reserve Rights (RSR)
The last currency that the strategist talks about is the Reserve Rights Token (RSR), which was created to support the stability of its stablecoin, Reserve Token (RSV). As per the analyst, RSR is set to move upwards hitting a target of $0.0077.
At the time of publication, RSR has plunged by 6.70% over the last 24hrs and is trading at $0.00636
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Can This Token’s Price Surge To The moon?
Following a series of major moves, the price of Huobi Token (HT), the platform token issued by the world’s leading virtual asset exchange Huobi Global, has grabbed the attention of many investors, due to a near doubling in price within the space of a week. Discussions have naturally ensued as to whether HT will maintain its stellar price performance.
HT’s price surge began shortly after Huobi Global announced a change in its majority shareholder to About Capital, which has now become the controlling shareholder of the exchange. Shortly after the announcement, Huobi Global unveiled the members of its Global Advisory Board, whose members include H.E. Justin Sun, founder of TRON, and Ambassador and Permanent Representative of Grenada to the WTO.
We shall now analyze the fundamentals behind HT in a bid to determine its future performance.
As Huobi Global’s platform token, HT is a decentralized cryptocurrency based on the Ethereum blockchain, with a limited total supply of 500 million. HT was developed based on the token system issued and managed through blockchain and can be used in multiple scenarios within the Huobi ecosystem.
Healthy burning mechanism
Token burning refers to the process of removing crypto tokens from circulation in perpetuity, which is supposedly deflationary and meant to bring a store of value appeal to the token. In contrast with the concept in traditional finance, where deflation means a consistent price decline, a deflationary token in crypto refers to the one whose circulating supply decreases over time, making it an inflation-resistant asset.
Huobi Global burns 15% of its revenue’s worth in HTs every month and allocates a further 5% of its total income to repurchase and burn a portion of HT used for team incentives.
To ensure transparency for HT holders, Huobi Global releases a HT Operations Monthly Report detailing the monthly status of HT. The latest one, dated September 2022, was released on October 15.
According to the report, Huobi Global burned 411,000 HT (valued at about 1.863 million USDT) in September 2022, which was 1.23% less than the number burned in August 2022. As of October 15, 2022, the number of burned HT combined has reached 295.509 million. The HT deflation rate stands at 0.19%.
The existing supply of HT stands at 204,490,828 HT while the current circulation amount is 162,683,587 HT, the report reads.
Expectations
About Capital has unveiled its plan to boost Huobi Global’s brand image on the worldwide stage.
Since joining the Global Advisory Board, H.E. Sun, a prominent blockchain entrepreneur, has repeatedly expressed his determination to promote the development of HT, in order to bring value to HT holders.
During a recent interview with Bloomberg, Sun declared he is highly optimistic about Huobi Global’s future prospects and the value appreciation of HT. According to the Bloomberg report, Sun began accumulating HT in 2013.
“I would see myself as one of the biggest holders” of Huobi Tokens in the world,” Sun said during the Bloomberg interview.
In a series of tweets, Sun also expressed his determination to strengthen HT and to take Huobi Global back to being one of the top 3 virtual asset exchanges by trading volume.
In addition to Sun’s remarks, Huobi Global is also moving to bring more perks to its users. For example, the exchange offers zero transaction fees for all ten USDD trading pairs, including BTC/USDD and ETH/USDD trading pairs.
HT’s price has skyrocketed since October 10, trending upward from 4 USDT to 8.2 USDT within the space of a week. Such positive price movements signal bright prospects for both the token and Huobi Global, and leave no doubt that HT’s price will continue to surge, as Huobi Global embarks on its expansion plans.
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