Day: November 25, 2023

RocketX announces beta launch of its API for multichain crypto swaps

RocketX is a CEX and DEX aggregator that allows for cross-chain trading of hundreds of crypto assets
This is enabled through the platform’s application programming interface (API), now available in beta.
Integration will allow users to transfer crypto tokens to any dApp, benefitting DeFi, NFT marketplaces and gaming among other ecosystems.

RocketX, a cross-chain centralised and decentralised exchange aggregator, has released the beta version of its developer application programming interface (API).

With this, the CEX and DEX aggregator is bringing multi-chain crypto swaps to any decentralised applications (dApps) via a single API. Users can tap into the API to trade multiple assets across over 100 blockchains.  

RocketX API for crypto swaps into any dApp

Using the hybrid aggregator’s API, developers can integrate crypto swaps into any dApp. It will only take a few lines of code for a developer to add multi-chain digital asset transfers to DeFi applications, NFT marketplaces and blockchain games.

RocketX API allows for both on-chain and cross-chain self-custodial asset swaps. Liquidity worth over $100 billion is sourced from 450 CEX and DEX platforms, giving dApps access to the most competitive rates across 200 DeFi ecosystems.

“Users will benefit from the lowest fees too, as the RocketX API’s algorithm also takes into account the gas fees across all supported exchanges and bridges, all with a response time of less than 1ms,” RocketX said in an announcement.

Support is across Bitcoin, Ethereum, BNB Chain, Polygon, Cosmos and Solana among other chains. RocketX has also integrated with Hedera, Sei, XCD Network and MicroVision Chain, using the partnerships to improve scalability and interoperability.

According to RocketX, the beta launch offers more than just decentralised access and deep liquidity for users of NFT marketplaces, GameFi, GambleFi and AI applications. It also means near-instant exchange of over 20,000 tokens, with this available across major networks, wallets and asset pairs.

To incentivise adoption, RocketX is offering a share of the network transaction fees to partners who integrate with the API. dApps can therefore earn extra revenue from this, the platform noted.

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As Shiba Inu, Dogecoin stalls, is Shiba Memu the next big thing?

Shiba Inu and Dogecoin, which revolutionized the meme coin industry, have stalled this year and underperformed their peers. SHIB price has barely moved in 2023 even as Bitcoin has jumped by over 120%. Dogecoin, on the other hand, has risen by less than 10%.

Why SHIB and DOGE are struggling

Dogecoin and Shiba Inu were two of the hottest meme coins in 2021, which explains why they are multi-billion dollar assets. Dogecoin has a market cap of over $11 billion while Shiba Inu is valued at more than $4.9 billion.

The two have lost momentum as investors focus on other cryptocurrencies. Some of the fastest-growing tokens this year are newer meme coins like Bonk, Pepe, and Memecoin, which are all worth over $1 billion. 

Dogecoin has stalled because Elon Musk, who famously boosted it in 2021 has stayed in the sidelines. He has not talked or even tweeted about it in the past few months. As a result, most investors have avoided the coin.

Shiba Inu, on the other hand, has had a difficult year. It started the year well as investors waited for its Shibarium launch. It soared to a high of over $0.000015 in February and then pulled back to the current $0.0000082. 

This price action is known as buying the rumour and selling the news. While Shibarium has already been launched, it has not done much to boost Shiba Inu’s ecosystem. 

Taken together, the daily traded volume of SHIB and DOGE has been lower than its historical levels. In the past 24 hours, only $130 million worth of SHIB and $395 million worth of Dogecoin were traded.

Shib Memu could be the next big thing

As Shiba Inu and Dogecoin have lost traction, other smaller and newer meme coins like Bonk and Pepe have become popular. Bonk has surged by over 2,100% from the lowest level this year. 

Similarly, Pepe has more than doubled from its YTD low. This is a sign that investors are becoming more interested in newer meme coins in this crypto bull run. 

Therefore, there is a likelihood that Shiba Memu will be the next big thing in the crypto industry. For example, the developers have already raised over $4.6 million in the past few months. 

It aims to do this by combining the virality of meme coins and artificial intelligence (AI). It will use AI to create viral marketing campaigns, which will help it reach millions of people every day. You can buy Shiba Memu here.

Like all financial assets, there are risks for investing in Shiba Memu. Its price could crash, as we have seen with other crypto tokens. Therefore, you should use quality risk management strategies to prevent huge losses. For example, you should only invest a small portion of your portfolio in it.

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Blast founder denies Ponzi scheme claims as TVL rockets past $400 million

Blast was supported by a $20Ms investment from notable backers like Paradigm and Standard Crypto at launch.
Blast is facing Ponzi scheme claims.
Roquerre clarifies that Blast’s 4 to 5% yield comes from reputable platforms like Lido and MakerDAO.

In a recent twist of events, Blast has faced scrutiny and Ponzi scheme claims. However, the founder, Tieshun Roquerre, has vehemently denied these allegations.

Despite ongoing debates, the recently launched Blast platform has achieved a significant milestone with a Total Value Locked (TVL) exceeding $400 million, emphasizing the platform’s rapid growth and unique features, including ‘Blast Points’ for community engagement and an innovative approach to Layer 2 (L2) native yield generation.

As the platform gains attention with a Total Value Locked (TVL) surpassing $400 million, Roquerre has sought to clarify misconceptions surrounding Blast’s innovative approach to yield generation and community engagement.

What is Blast?

Launched in an invite-only early access mode, the Blast platform has quickly garnered attention, raising $20 million from investors including Paradigm and Standard Crypto.

With a TVL exceeding $400 million, the platform’s unique features, such as ‘Blast Points’ for community engagement, have contributed to its rapid growth. The TVL milestone reflects confidence from investors and users alike, despite ongoing debates about the platform’s viability and security.

Blast positions itself as the first Layer 2 (L2) with native yield. Promising an EVM-compatible optimistic rollup, the platform allows users to earn yield on stablecoins. By bridging assets like USDC, USDT, and DAI to Blast, users participate in on-chain T-Bill protocols like MakerDAO, receiving yields in Blast’s auto-rebasing stablecoin, USDB.

Despite concerns about a lockup period and the L2’s yet-to-be-launched status, Roquerre envisions Blast’s potential impact on reducing transaction costs and enhancing institutional-grade NFT perps.

Addressing Blast’s Ponzi scheme claims

Tieshun Roquerre, the founder of Blast, has responded to allegations labelling the platform as a Ponzi scheme.

Roquerre strongly refutes these claims, emphasizing that Blast’s 4 to 5% yield is sourced from reputable platforms like Lido and MakerDAO. He points out that these yields are a result of Ethereum’s staking rewards and on-chain T-Bills, positioning them as sustainable components within the crypto economy. Roquerre’s commitment to transparency aims to dispel misconceptions surrounding Blast’s financial model.

As Blast navigates its early stages, the cryptocurrency community remains vigilant, observing the platform’s progress and assessing its potential impact on the evolving landscape of crypto finance.

The post Blast founder denies Ponzi scheme claims as TVL rockets past $400 million appeared first on CoinJournal.

Crypto fear and greed index rises as Memeinator gains momentum

Binance settled with the SEC and agreed to pay $4.3 billion.

Changpeng Zhao also agreed to step down as the CEO and pay $50M.

Memeinator continued with its token sale as it raised over $1.4 million.

The crypto fear and greed index remained in the green this week even as the industry went through severe challenges. Bitcoin surged to over $38,000 while crypto tokens like Superverse (SUPER), GameSwift, and EthereumPoW more than doubled. In all, the total market cap of all digital currencies approached the $1.5 trillion level.

Binance and Kraken woes

The crypto industry had several important events this week. It started with a major lawsuit brought by the Securities and Exchange Commission (SEC) against Kraken, one of the biggest crypto exchanges in the world.

The SEC alleged that the company operates as an unregistered securities exchange, putting millions of customers at risk. It also operates illegally, providing broker, dealer, and clearinghouse services. Further, the exchange does not do proper record keeping, and that it commingles customers funds.

A day later, the SEC reached a settlement with Binance, the biggest exchange in the world. As part of the settlement, ChangPeng Zhao, the company’s founder and CEO, agreed to step down and pay a $50 million fine. The exchange will also pay over $4 billion in fines.

Therefore, the price action of cryptocurrencies is a sign that investors have welcomed the new actions on Binance. Besides, regulatory challenges have been hanging around the crypto industry in the past few months. In a statement, analysts at JPMorgan said:

“Its market share loss should be contained going forward and perhaps partly reverse once the implications from the settlement on Binance’s operations and business model become more clear.”

Memeinator token sale doing well

Meanwhile, Memeinator has continued doing well as the token sale gains momentum. According to its website, the developers have now raised over $1.49 billion from investors as demand rises. 

Data also shows that over 300k people have entered its promotional campaign, where the winner will get a ticket to go to space in the coming months. A Virgin Galactic trip is said to cost over $200k.

Memeinator is aiming to take advantage of two important themes. First, it is a meme coin that seeks to outperform other meme coins like MemeCoin (MEME), Pepe, and Bonk. All these tokens have surged recently, creating millionaires along the way.

Second, there is the theme of artificial intelligence (AI), which is booming after the success of ChatGPT, Bard AI,  and Anthropic. Recently, AI tokens like SingularityNET (AGIX) and Fetch AI have been some of the best performers in the industry. Therefore, there is a likelihood that MMTR token will do well when it is listed. You can buy the MMTR token here.

There are risks for investing in Memeinator. As we have seen with other tokens, there is a risk that its price will not rise after being listed. There is also the risk of pump and dumps. Therefore, you should only invest funds that you can afford to lose.

The post Crypto fear and greed index rises as Memeinator gains momentum appeared first on CoinJournal.

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