Day: April 26, 2023

BitClout 2.0 Announced as Next Stock Market for People

Los Angeles, USA, April 26th, 2023, Chainwire

Today, an exciting announcement was made on decentralized social app Diamond that Bitclout 2.0, the highly-anticipated follow-up to 2021’s viral sensation that took the crypto world by storm, has been revealed by the infamous @diamondhands.

Bitclout 2.0 aims to build upon the success of the original by introducing several new products and features, effectively turning reputation into an asset class on par with what NFTs are today.

BitClout 2.0 is expected to launch with a sophisticated airdrop after the DeSo blockchain’s transition to its new Revolution Proof of Stake consensus mechanism is complete. The white paper for BitClout 2.0 can be accessed at bitclout2.deso.com, and the password can be obtained by sending a DM to @bitclout on any DeSo app like Diamond or DeSo Chat Protocol.

Bootstrapping A Stock Market for People

One of the most groundbreaking new products BitClout 2.0 introduces is Creator Coins V2, a reimagined version of the original trading product that sparked thousands of celebrities and influencers to join the platform.

Creator Coins are a new type of asset class introduced by BitClout 1.0 that are tied to the reputation of an individual rather than to a company or commodity, and Creator Coins allow creators, celebrities, influencers, and everyday users to monetize their work in ways never before possible in web2.

Since Creator Coins track the reputation of an individual, if Elon Musk successfully lands the first person on Mars or alternatively go bankrupt, it will affect the price of his Creator Coin.

Creator Coins V2 are fully backward compatible with V1, allowing users to transfer over seamlessly, and will be tradeable on DeSo DEX, the world’s fastest on-chain order-book exchange (showcased by Openfund).

Trading activity on BitClout 2.0 will be incentivized with a new $BITCLOUT token, allowing people to accrue fees through Creator Coin V2 trading activity.

Bitclout 2.0 will reward early adopters through a sophisticated and viral airdrop scheme that takes inspiration from both BitClout 1.0 and from NFT marketplace Blur. BitClout 2.0’s airdrop mechanics will not only drive trading liquidity but also “content liquidity” by compensating the most active creators on the platform.

Creators who post regularly and engage the community will also earn $BITCLOUT tokens through airdrops, adding an innovative new incentive structure for creators never seen on other platforms.

People interested in participating in the $BITCLOUT airdrop can start familiarizing themselves with DeSo apps like Diamond, Openfund, Desofy, or DeSocialWorld, and many more listed on deso.com, before the launch.

BitClout 2.0 will be built on the Decentralized Social Blockchain. According to the BitClout 2.0 white paper, “DeSo is the only blockchain that can support the storage and indexing requirements needed for a decentralized social platform like BitClout 2.0.” This is thanks to DeSo’s vastly-superior content storage costs, which make it finally feasible for apps to extend beyond DeFi to storage-intensive social applications, and much more.

The History of BitClout

In March of 2021, a mysterious password-protected link began to go viral.

The link allowed users to access a new app called BitClout, created by the pseudonymous founder known as @diamondhands. What started as just a white paper and an associated demo quickly evolved into an addictive worldwide phenomenon, thanks to BitClout’s introduction of a novel new concept known as Creator Coins.

BitClout and its concept of Creator Coins were initially so viral and engaging that the early prototype alone attracted organic signups from hundreds of influencers and celebrities.

It also spawned numerous articles about its burgeoning “stock market for people,” including a long-form piece in the New Yorker.

The Next Great Decentralized Social Application

With the launch of Bitclout 2.0, the true power and capabilities of the DeSo Blockchain will be on full display for the world to see.

Already one of the fastest and cheapest layer-1 blockchains on the market, DeSo’s move to Proof of Stake is likely to cement DeSo’s status as the industry leader for developers wanting to build storage-intensive infinite-state applications.

Once completed, DeSo will inch closer to its final form, “The Sovereign Internet” featuring a “Decentralized Web,” enabling developers to deploy censorship-resistant storage-intensive applications at scale from anywhere in the world.

Bitclout 2.0 will likely be the first example of what can be built on DeSo post-Proof of Stake, but it won’t be the last.

Currently, other proposals are circulating, including Bitfair, the first crypto-native sports betting app, and Pseudo, the first decentralized identity marketplace.

Learn more about the DeSo roadmap and what’s next here.

About Deso

DeSo is a new layer-1 blockchain built from the ground up to decentralize social media and scale storage-heavy applications to billions of users. It raised $200 million and is backed by Sequoia, Andreessen Horowitz, Coinbase Ventures, Social Capital, Polychain Capital, Winklevoss Capital, Pantera, and other blue chip funds.

Contact

Arash Ghaemi, ash@deso.org

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Coinbase stock outlook: H.C. Wainwright analyst sees upside to $75

H.C. Wainwright analyst initiates Coinbase with a “buy” rating.
Mike Colonnese explained his bullish view in a research note.
Coinbase stock has lost about 35% in just over a month.

A 35% pullback in Coinbase Global Inc over the past month is “overdone” and a recovery is coming soon, says Mike Colonnese – an H.C. Wainwright analyst.

Buy Coinbase stock for a 35% return

On Wednesday, Colonnese recommended that investors buy shares of the world’s second-largest and one of the best cryptocurrency exchange as they had upside to $75 – a 35% premium on its current price.

The analyst is bullish on Coinbase stock for one simple reason that rewards currently outweigh the risks.

Coinbase is uniquely positioned to benefit from large and rapidly growing crypto economy given its trusted brand, easy to use products, and focus on compliance and regulation.

Coinbase has a footprint in 100 countries and is serving about 8.3 million active users, which, Colonnese wrote, is scale enough for it to expand its market share this year.

Why else is he bullish on Coinbase stock?

Coinbase is expected to report its Q1 results next week. Consensus is for it to lose $1.36 a share this quarter versus $1.98 per share a year ago.

The H.C. Wainwright analyst is convinced that the crypto winter is over and the subsequent increase in trading volume will be a catalyst for the company’s operating performance. His research note added:

COIN is a scarce asset, as the only publicly listed crypto native company in the U.S. with a market cap >$10B, which means competition for investor capital is extremely limited.

Earlier this week, Coinbase sued the Securities and Exchange Commission after waiting for months to get an answer on its July 2022 petition. Regulatory clarity in the future will also help drive the Coinbase stock up, Colonnese concluded.

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SOL price surging after Solana ChatGPT plugin unveiled

Solana users will soon be able to interact with the network through a ChatGPT plugin.
Users can use the plugin to check wallet balances, transfer Solana-native tokens, and buy NFTs.
Developers are also encouraged to test using the plugin to retrieve on-chain data.

At press time, SOL price was up 7.33% 34 hours after Solana announced through a tweet that “Solana Labs has created an open-source reference implementation for a ChatGPT plugin that lets users interact with the @solana network directly from ChatGPT.”

(1/2) Solana Labs has created an open-source reference implementation for a ChatGPT plugin that lets users interact with the @solana network directly from ChatGPT.

Users will be able to check wallet balances, transfer tokens, and purchase NFTs once ChatGPT plugins are available. pic.twitter.com/08z1IX76zJ

— Solana Labs (@solanalabs) April 25, 2023

The news comes two weeks after Solana unveiled yet another achievement, the crypto-first ‘Saga’ android phone, which will be available for customers to purchase from May 8. Solana Network has seen increased activity over the recent past causing the price of its native token SOL to rise by more than 11% in the last 30 days.

Solana ChatGPT plugin use

The open-source reference implementation for a ChatGPT plugin marks Solana’s entry into the world of artificial intelligence (AI). Announcing the plugin, Solana Labs noted that it would allow users to interact with the Solana network directly from OpenAI’s ChatGPT.

Since its launch in November 2022, ChatGPT has quickly attracted global popularity mainly because of its AI-powered chatbot, which generates sophisticated responses to any request. In the wake of the ChatGPT, several other companies have started leveraging AI technology including players in the crypto sector as they seek to enhance user experience.

Besides allowing users to check wallet balances, transfer Solana-native tokens, and buy non-fungible tokens (NFTs), the ChatGPT plugin will also allow developers to build AI-powered applications on the Solana network.

Grants to AI developers

Solana Foundation also announced that it will be allocating grants to its ecosystem teams building AI tools on the Solana blockchain.

According to the foundation, the teams or individuals will be able to seek from $5, 000 to $25,000 grants from a $1 million fund.

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CertiK and zkSync Era plan to compensate Merlin hack victims

Merlin is an Ethereum-based decentralized exchange (DEX) which uses zero-knowledge sync (zkSync).
The DEX has lost more than $1.8 million in a liquidity pool hack.
The hack took place barely hours after smart contract security firm CertiK audited the DEX’s code.

Ethereum-based decentralized exchange (DEX) Merlin woke up to bad news on Wednesday morning after a hacker(s) drained the DEX $1.8 million in a liquidity pool hack. The hack happened during a public sale of Merlin’s native token MAGE.

The hacker(s) stole several cryptocurrency assets including Ethereum (ETH), USD Coin (USDC), and other illiquid tokens.

CertiK had audited Merlin’s code

A few hours after the hack, security firm CertiK tweeted saying that it was investigating the incident to understand its impact on the community. It also said that its initial findings suggest that it could have resulted from an issue with a private key management meaning it was hack and not an exploit as widely thought.

CertiK conducted an audit of Merlin’s code on April 24, 2023, and recommended that Merlin improves its “centralized roles to the decentralized mechanism like multi-signature wallets to enhance security practices.” It also asked Merlin to implement a timelock feature with a latency of at least 48 hours to avoid a single point of key management.

CertiK also promised to collaborate with appropriate authorities in case anything came up.

CertiK and zkSync Era to compensate lost assets

While urging the hacker, who CertiK believes is a rogue developer, to return 80% of the stolen funds, the security firm offered a 20% white hat bounty to the hacker.

In a statement to a renowned media outlet on April 26, CertiK reiterated it is investigating the exit scam and has also enlisted the remaining Merlin team to initiate the compensation plan. The firm said:

“CertiK is exploring a community compensation plan to cover the ~$2M of user funds lost in the Merlin DEX rug pull. Initial investigations indicate that the rogue developers are based in Europe, and we are working with law enforcement to track them down.”

CertiK also noted that private key privileges are “committed to assisting impacted users” notwithstanding that they are outside the scope of a smart contract audit.

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Helium’s migration to Solana sends IOT token price through the roof

Helium successfully migrated to Solana Network last week.
More than six billion IOT tokens have been minted since Helium migrated to Solana.
IOT Token surged by 370 earlier today to hit a daily high of $0.003927.

Helium IOT (IOT) token surprised a majority of crypto investors today after surging by more than 370%. Despite a slight retracement, the token was still green trading at $0.00206, up 33.59% at press time.

Today’s IOT token price surge is attributed to last week’s successful Helium migration to Solana Network which has resulted in more than six billion IOT to be minted.

Protocol token of Helium’s internet-of-things network

Most are conversant with Helium’s native token, HNT, which has also been performing quite well over the past few days after the migration.

Helium has another token, the Helium IOT, which is the protocol token of Helium’s internet-of-things network. The Helium IOT is mined from Helium’s hotspots, which is the hardware infrastructure behind the IOT network.

Helium IOT is backed by the HNT token and can always be converted to HNT, with the redemption rate being algorithmically set by its treasury swap smart contract.

According to data from Solana’s block explorer, there are about six billion IOT tokens in circulation supply out of the maximum supply of 200 billion tokens.

The IOT token also received another boost after Solana-based decentralized-finance (DeFi) protocol Kamino Finance said it had opened two Helium vaults to allow investors to stake their IOT and HNT tokens for a yield.

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iZUMi Finance price: profit deals dump IZI after KuCoin listing

iZUMi Finance (IZI) price dropped over 15% amid massive profit taking.
The dump followed the token’s listing on major crypto exchange KuCoin.
But while price could fall below $0.030, the cryptocurrency’s strong ecosystem growth could see increased IZI demand and aid price uptick down the road.

iZUMi Finance (IZI) price fell more than 15% early Wednesday as the cryptocurrency’s market defied broader crypto prices outlook. IZI traded to lows of $0.032 as sell pressure mounted following the coin’s listing on major crypto currency exchange KuCoin.

The dump is likely a “sell the news” scenario as the price of iZUMi Finance rose exponentially over the past few days. This after KuCoin announced it would list the native token of the multi-chain decentralised finance (DeFi) protocol.

Even with today’s dip, IZI/USD was still trading more than 26% up in the past seven days and over 280% up in the past two weeks.

iZUMi Finance price: sellers in control for IZI/USD

While current price outlook suggests sellers might push IZI lower, the cryptocurrency is poised at a horizontal demand zone that has helped bulls for much of April. That suggests the profit taking could give way to new upside momentum.

As for immediate price outlook, IZI/USD is likely to trade lower if bulls fail to keep $0.030. The hourly chart shows the token is trending towards the oversold territory though and could thus be due an upward flip should the $0.02 base hold. Otherwise, a dip to $0.011 could happen.

IZI price on the hourly chart. Source: TradingView

iZUMi Finance long term outlook: network strength key

A look at Izumi Finance’s network performance shows decent growth in total value locked (TVL). According to data on DeFiLlama, the TVL has risen sharply in the past 10 days – from under $2 million to over $25 million as of 26 April 2023.

The DeFi protocol’s products iZiSwap, LiquidBox and DAO veNFT among others are also seeing greater uptake across the market. Indeed, the platform announced on Wednesday that it had closed a $22 million financing round for the on-chain order book iZiSwap Pro.

The iZiSwap recently launched on zkSync Era, a future-proof zkEVM network helping to scale the Ethereum blockchain.

Other than the KuCoin, iZUMi has also struck key partnerships with MEXC Global, Bybit, Woo Network, and BitDAO. iZUMi also has a security partnership with auditing platform secure3io.

Building a strong platform amid the network pillars could inform long term demand for IZI and aid its price.

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Metacade Token Listing on Top Crypto Exchanges in May. Here’s What Investors Need to Know.

As the play-to-earn (P2E) space continues to expand, many are looking to invest in crypto projects with a strong chance of capitalizing on the industry’s growth. One such project is Metacade, an up-and-comer that recently completed its sell-out presale raising $16.4 million. MCADE investors are now looking forward to the project being listed on top crypto exchanges.

In this article, you’ll learn what Metacade is, why it’s attracted so much investment, and where experts think the MCADE token could end by late 2023.

What is Metacade (MCADE)?

Metacade is a rising star in the GameFi space, providing an all-in-one community hub for P2E gamers. Its goal is to bring gamers, developers, and crypto enthusiasts together in a vibrant ecosystem, with the platform owned and operated by the community. Metacade offers its users a wide range of features designed to enhance the P2E gaming experience, like sub-forums for discussing individual games, real-time chat, and spaces for reading the hottest GameFi alpha. 

At the heart of Metacade is its native token, MCADE, which will serve as a utility and governance token within the platform. This token enables users to experience Metacade’s pay-to-play virtual arcade, vote on Metacade’s future, and earn rewards for contributing reviews, tips, and other helpful content to the community.

Other features, like a job board, a decentralized funding scheme known as Metagrants, and regularly held gaming tournaments, have caused considerable buzz amongst the crypto community. The project’s $16.4 million presale was a sell-out success, with the MCADE token being listed for sale on Uniswap, soon followed by important listings on CoinMarketCap, Bitmart, and CoinGecko. Those invested in MCADE are excited about its upcoming listing on major crypto exchange MEXC in May, as well.

What You Need to Know About Metacade (MCADE)

With Metacade gearing up for listings on top crypto exchanges, it’s essential to understand what sets this platform apart from the competition and why it’s attracted so much attention from the P2E community.

One of the most significant factors is the Metagrant program, a potential game-changer for the P2E industry. The scheme offers funding to game developers earning the most votes from the community for their proposals, with the winning game added to Metacade’s virtual arcade. This decentralized approach allows the community to shape the future of P2E gaming directly, creating a grassroots fanbase for new titles and likely attracting thousands of players onto the platform.

Metacade’s emphasis on community involvement and engagement makes it stand out in the crowded GameFi space. Metacade intends to give MCADE token holders the right to have their say in the platform’s direction through its decentralized autonomous organization (DAO), expected in 2024. Through the DAO and Metagrant program, Metacade ensures that its user base remains actively invested in both the platform’s success and the longevity of P2E gaming. 

In addition to its community-driven initiatives, Metacade is committed to helping players boost their P2E income. Not only does this mean offering the hottest GameFi alpha being shared by top players, but also includes a job and gig board. Here, users can find work in the Web3 and gaming industries and participate in casual game testing using Metacade’s native testing environment in return for MCADE tokens.

Finally, Metacade’s upcoming listings on top crypto exchanges will undoubtedly increase its visibility and accessibility, drawing even more interest from those investing in the lucrative GameFi sector. This increased exposure will likely lead to further growth and adoption, which could boost Metacade’s price in the coming weeks. 

Metacade (MCADE) Price Prediction

After being listed on Uniswap, analysts have observed strong price stability in the MCADE token, overcoming the usual sell-offs to list currently at $0.023. Considering Metacade’s staking pool filled in under five hours, it seems investor confidence is exceptionally high. This has led to bullish Metacade price predictions.

Some estimate that MCADE will easily reach $0.25 by the end of the year, while others think $0.45 is a possible reasonable target. Even more ambitious price predictions see MCADE smashing $0.70 in 2023, putting today’s investors up 2943%!

Don’t Miss Out on Metacade’s (MCADE) Top Crypto Exchange Listings

In summary, it’s easy to see why the hype surrounding Metacade’s listings on top crypto exchanges is increasing. Investing in crypto comes with a significant degree of uncertainty, especially for new projects. However, Metacade has demonstrated itself capable of capturing the intense focus of the investment community with its well-thought-out roadmap and unique set of valuable features.

With a recent partnership with metaverse development company MetaStudio stimulating excitement around Metacade, it’s safe to say MCADE is likely to see continued price increases in the near future given the impressive 28% rise as the token listed on Bitmart on 20 April, and with MEXC due next in early May.

You can find out how to buy MCADE here.

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Investment Property Enthusiasts Discover AltSignals: Diversifying Portfolios with ASI Token Amid Real Estate Market Fluctuations.

When uncertainty hits the financial sector, the housing market is rarely far behind, causing nervousness among investment property enthusiasts. As the global banking crisis threatens to deepen, investment property experts are beginning to look to diversify their portfolios to protect their money from market fluctuations in real estate.

One token that looks like a perfect fit for investors seeking to move funds away from the property market is AltSignals’ new ASI coin which has just launched its presale event. Here’s why ASI could record huge gains this year while investment property fans move away from the real estate market.

AltSignals: New native ASI token has a bright future

AltSignals launched its online trading platform in 2017 and has quickly grown into one of the most trusted suppliers of high-quality trading signals. Over the past five years, the AltSignals community has grown to more than 50,000 members, of which 1,400 are VIP members, all of whom rely on the accurate and highly-informed trading signals powered by AltSignals’ pioneering AltAlgo™ trading indicator tool.

The release of the ASI token is designed to support the implementation of a new AI-powered trading stack called ActualizeAI, which will augment the existing AltAlgo™ outputs with cutting-edge AI capability. This innovation is designed to turbocharge AltSignals’ outputs, taking them to unprecedented accuracy and moving the platform to the forefront of the AI/blockchain revolution.

News of the ASI ICO has captured the imagination of AltSignals’ large existing community alongside interested onlookers in the investment community. Some interested parties could be investment property enthusiasts looking to protect their funds as real estate markets record growing uncertainty.

What is AltSignals?

AltSignals is among the most trusted providers of successful and accurate trading signals. This is illustrated by the platform gaining an average 4.9/5 rating on Trustpilot, courtesy of almost 500 positive reviews, and a success rate on calling Bitcoin (BTC) and Ethereum (ETH) trades of more than 70%.

Alongside daily crypto trades, AltSignals provides valuable signals on various other trades, including Forex, CFD, traditional share trades, and Binance futures. And in 19 out of 32 months, Binance Futures holders made 10x gains on their portfolio.

This success has been driven by AltAlgo™ and is set to reach new levels with the development of the ActualizeAI trading stack, which will apply the best AI technologies to outputs, driving improvements in accuracy and helping the community maximize the profitability of their decision-making.

Machine learning will soon enable rules-based logic to be applied to outputs, which benefit from regressive pattern recognition that understands how markets operate. This learning cycle is quickened by natural learning processing (NLP) before predictive modeling applies historical data trends. These trends, which will improve as more data is available over time, will work with reinforcement learning to allow ActualizeAI to provide accurate predictions and balance the risk/reward ratio on all trades.

How will ASI token work?

The release of the ASI token is timed to coincide with the development and testing of ActualizeAI while simultaneously underpinning AltSignals’ entire ecosystem. Coin holders will gain immediate access to ActualizeAI’s trading stack once it’s released, with access managed on two different levels. Token holders with more than 50,000 coins will be granted lifetime membership, while those with fewer tokens gain access for one year.

In addition, ASI coin holders will unlock several other perks and benefits through membership in the exclusive AI Members Club. For example, club membership unlocks entry into regular online trading tournaments and access to some of the most exciting and potentially lucrative early access private and presale opportunities to support new crypto projects.

Finally, ASI will be the medium of exchange on the platform, unlocking access to educational material to support traders of all abilities and expertise on their trading journeys while enabling all transactions on the platform.

How high can ASI reach in 2023?

The level of utility built into the ASI coin is readily apparent to all interested investors. Yet, ASI will also become a valuable governance token, delivering community-led governance to the platform, through which the members are granted full voting rights to determine the platform’s future.

This level of control goes beyond what investment property enthusiasts are accustomed to and presents another compelling reason why ASI attracts such interest among those looking to diversify. With this excitement at the early presale stages, analysts expect ASI to record impressive gains after the coin’s IDO, rising rapidly from its final presale price of $0.02274 to quite possibly breach the $0.50 barrier before the end of the year.

ASI is an excellent diversification for investment property experts

Holding a diverse investment portfolio is a perfect way for investors to minimize the damage of market fluctuations in one or two sectors. With nervousness growing in the real estate market, investment property experts looking for alternative investment opportunities could be wise looking to be involved in the ASI presale.

Tokens are available during stage 1 for only $0.015. With a rich growth potential for early-stage investors thanks to the exciting narrative of AI technologies, anyone reserving their tokens now could stand to record impressive gains in the short, medium, and long terms.

You can participate in the ASI presale here.

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USDC’s struggles is due to US crackdown, says Circle’s Jeremy Allaire

Key takeaways

Circle’s CEO Jeremy Allaire has blamed the banking crisis in the United States for USDC’s recent struggles.

USDC has lost roughly $13 billion of its value in recent months.

Allaire says investors are de-risking outside of the US, and this is affecting USDC.

Allaire blames US crackdown for recent struggles

Jeremy Allaire, the CEO of Circle, USDC’s issuer, has blamed the government for the stablecoin’s recent struggles. He mentioned this during an interview with Bloomberg on Wednesday, April 26th.

According to the Circle CEO, investors are looking to de-risk out of the United States due to the recent banking crisis that has rocked the country. 

Earlier this year, Silvergate Bank shut down its cryptocurrency operations, affecting numerous crypto companies, including Circle. 

The stablecoin issuer was forced to move its USDC reserve deposits out of Silvergate Bank as the financial institution continued to struggle.

In the interview, Allaire told Bloomberg TV that;

“We are seeing a huge amount of concern globally about the US banking system. We are seeing concern about the regulatory environment in the US.”

Circle’s USDC temporarily lost its $1 peg during the banking crisis but regained its value as the market stabilised. 

Allaire has urged lawmakers in the United States to step up and provide clear regulation for the crypto space. He stated that;

“The European Union, Hong Kong, Singapore and the Middle East are making progress on crypto rules, while the US is behind right now.”

USDC Falls Behind Tether’s USDT

Circle’s recent struggles have seen its stablecoin fall behind its nearest competitor, Tether’s USDT. Following the banking crisis, USDC’s market cap dipped by more than $13 billion, and it currently has a market cap of around $30 billion.

This has allowed Tether’s USDT to cement its position as the leading stablecoin in the market. USDT has a market cap of $81 billion, nearly triple that of USDC, its nearest competitor. 

Circle also had roughly $3.3 billion stuck in the now-collapsed Silicon Valley Bank. The company has already indicated that it intends to cover any financial shortfalls resulting from the recent banking crisis.

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Why is the Render Token (RNDR) price surging?

Render Network’s token jumped sharply on Wednesday.

The community passed two key votes: RNP – 002 and RNP – 003. 

Render Token (RNDR) price surged to a key resistance level after the developers made a major milestone. The token surged to a high of $2.20, which was the highest point this month. In all, the token has been one of the best-performing cryptocurrencies after rising by more than 140% from the lowest level in March.

Render Network news

The main reason why the RNDR price surged is that the community completed the RNP-002 and RNP-003 votes. These were the most important votes in the community because they will change the architecture of the network.

Precisely, RNP-002 means that Render Foundation can now move ahead with implementing the BME model on the Solana ecosystem. Solana is a leading blockchain that is known for its fast speeds and low transaction costs. 

Unlike Ethereum, Solana can handle thousands of transactions per second while the average cost is less than $0.01. Therefore, by using Solana, Render hopes that its users will work at a faster pace and save a lot of money in transaction costs.

Meanwhile, the RNP-003 vote was known as the Resource Acquisition and Allocation for Core Team and Grants. The vote simply makes it possible for the Render Foundation to acquire and allocate resources in a bid to grow the ecosystem. The next stage is that these votes will be updated to Approved and on the Roadmap. 

The RNP voting process for RNP-002 and RNP-003 has officially come to an end!

Here are the results and what they mean for the future of the Render Network.🧵

— Render Network | RNDR (@RenderToken) April 26, 2023

Render Token price prediction

The daily chart shows that the RNDR price has been in a strong bullish trend in the past few months. It has jumped from a low of $0.8932 in March to a high of $2.20. The token has jumped above all moving averages.

The current price means that the token has formed a double-top pattern. In price action analysis, this pattern is usually a bearish sign. Therefore, with the Solana integration news confirmed, there is a likelihood that the token will pull back.

This is known as buying the rumours and selling the news. It happens when investors buy an asset ahead of a major event and then sell when it happens. If this happens, the next key level to watch will be the neckline of the double-top at $1.622.

How to buy Render Network token

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