Day: February 7, 2024

Memeinator and Dymension are thriving as crypto demand wanes

Cryptocurrencies have entered a wait and see mode as traders focus on the ongoing Bitcoin inflows. The most recent data shows that some of the top ETFs, especially by Blackrock and Fidelity are doing better than the others. In this period, most cryptocurrencies have either retreated or remained in a tight range. Despite this, there have been some breakout stars, including Dymension (DYM) and Memeinator (MMTR).

Memeinator raises over $4.3 million

Memeinator, an upcoming meme coin, has become one of the top cryptocurrencies in the past few months. The coin, which is now in its token sale phase, has attracted thousands of fans and raised over $4.3 million. These funds make it one of the most successful token sales of the year.

Memeinator’s token sale has been successful for a few reasons. First, the developers have put in place several promotions that have attracted thousands of people. For example, they are running a promotion that will see a lucky winner fly to space using Virgin Galactic, the company started by Richard Branson. 

Second, it has been successful because of the vision behind the developers. As you can read in this white paperMemeinator is combining the concept of meme coins and artificial intelligence. Recently, we have seen many meme coins move from obscurity into multi-million dollar assets. For example, MAGA Trump has gained a valuation of over $100 million. At their peak, Bonk and Pepe had a combined valuation of over $1 billion.

At the same time, the concept of AI is still intriguing people, as evidenced by the strong performance of Nvidia and Super Micro Computer. Nvidia is now a company valued at over $1.6 trillion, making it the sixth-biggest company in the world. Therefore, combining meme coins and AI has attracted many investors.

Finally, it has come at a time when most analysts expect cryptocurrencies to do well after the Bitcoin ETF and the upcoming Bitcoin halving and potential rate cuts. You can buy the MMTR token here.

Dymension token surges

The other big winner in the crypto industry is a new coin known as Dymension, whose ticker is DYM. This is a new platform that seeks to change the blockchain industry. Specifically, it is targeting an area known as rollups, which are platforms that boost the performance of Ethereum.

The challenge with rollups is that they are built using different architectures, making them difficult to interoperate. It solves this challenge by standardizing rollups using the Inter-Blockchain Communication Protocol (IBC). The idea is to use a standard such as the way we have ERC tokens.

DYM token has surged because the mainnet launch happened this week. In most cases, cryptocurrencies tend to jump after going through a mainnet launch because of the hype it generates. They also rise because of the news that happens after the launch like partnerships and token listings.

On-chain data shows that Dymension has started to gain market share. It has over 508k active addresses and a staking APR of 42.5%.

Dymension mainnet is live!https://t.co/8y3pJ0ohCK pic.twitter.com/DOVcuj1yXf

— Dymension (@dymension) February 6, 2024

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Paxos and Chainlink power up PayPal’s PYUSD with price feed integration

Paxos and Chainlink integrate PYUSD Chainlink Price Feed, enhancing its trust and utility.
Chainlink’s security features drive PYUSD adoption by ensuring accurate and reliable data.
Paxos and Chainlink collaboration marks a milestone in advancing tokenized assets and scaling on-chain finance.

Paxos, a leading regulated blockchain infrastructure and tokenization platform, has partnered with Chainlink, the industry-standard oracle network, to bolster the adoption of PYUSD. By integrating a PYUSD Chainlink Price Feed on the Ethereum mainnet, users now have access to highly accurate and decentralized market data for PYUSD.

This collaboration signifies a significant milestone in advancing the use of tokenized real-world assets (RWAs) and scaling on-chain finance globally. It will further enhance the utility and trustworthiness of PYUSD in online transactions, propelling its role in facilitating on-chain payments to new heights.

Chainlink driving PYUSD adoption

Chainlink’s market-leading security features play a pivotal role in driving the adoption of PYUSD. With applications and users across the DeFi space requiring high-quality, tamper-proof market data, Chainlink Price Feeds ensure the accuracy and reliability needed to establish secure markets around PYUSD. This integration not only helps attract initial liquidity but also fosters ecosystem-wide adoption by providing transparent and decentralized price data on-chain.

By leveraging Chainlink’s decentralized network, PYUSD users can trust the stability and integrity of the stablecoin for their transactions. Chainlink Price Feeds offer critical features such as high-quality data sourced from premium aggregators, secure node operators, decentralization at various levels, and an economy of scale effect. These features collectively contribute to enhancing the security, reliability, and transparency of the PYUSD ecosystem, paving the way for its widespread adoption in the smart contract ecosystem.

With Paxos enabling PayPal to issue PYUSD on-chain and Chainlink providing the secure, reliable, and decentralized price data needed for its adoption, the collaboration between these industry leaders marks a significant milestone in advancing the tokenized economy and modernizing the global financial system.

This integration not only reinforces the role of blockchain technology in revolutionizing digital finance but also underscores the potential of stablecoins like PYUSD in driving financial inclusion and interoperability across various sectors.

Overall, the collaboration between Paxos and Chainlink holds promise in accelerating the adoption of PYUSD and contributing to the growth of the tokenized economy on a global scale.

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Coinbase-Backed DeSo SocialFi App Focus Raises $75 Million in One Week

Los Angeles, California, February 7th, 2024, Chainwire

Key Takeaways

Focus, the revolutionary new decentralized SocialFi app, raised $75 million in one week
Focus rivals subscription platforms like OnlyFans and Patreon, a multi-billion-dollar industry
Users can reserve with DESO, BTC, ETH, and more to earn a 90% bonus in $FOCUS tokens for a limited time

Focus, a new decentralized SocialFi app built on the DeSo blockchain, has made waves in the crypto industry by amassing over $75 million in token reservations within its first week of launch.

This unprecedented achievement not only demonstrates the platform’s potential but also reflects the growing interest in decentralized social media.

Focus (focus.xyz) is built by DeSo, the team that raised $200M from Coinbase, Sequoia, a16z, Polychain, and other top funds. It aims to disrupt the trillion-dollar social media market and creator economy by introducing groundbreaking features rivaling X, Onlyfans, and Patreon.

The total addressable market for this sector is substantial, with OnlyFans projected to process approximately $8 billion in 2023 while charging a 20% transaction fee. These high fees significantly cut into creator profits, emphasizing the need for a fairer solution.

Focus combines the best of Onlyfans, Patreon, X, and other billion-dollar social platforms into one app and features permissionless and anonymous crypto-native monetization features that are not possible in web2.

Built on the Decentralized Social (DeSo) blockchain, Focus distinguishes itself with a unique approach to content ownership, creator monetization, and user engagement.

In response to this overwhelming achievement, Nader Al-Naji, the Founder of DeSo and visionary behind Focus, shared his insights:

“The response we’ve received is nothing short of spectacular. It’s a testament to the community’s belief in a decentralized future for social media. Our platform is not just about reshaping social media; it’s about empowering users and creators in a way that’s never been done before. This milestone is just the beginning of our journey towards a more decentralized social landscape.”– Nader Al-Naji, Founder of DeSo

Focus’s mission extends beyond the realm of conventional social media

Focus aims to revolutionize the way we interact online by offering unprecedented monetization opportunities for creators, coupled with advanced AI tools, while also tackling the challenges of censorship and content authenticity.

Thanks to the DeSo blockchain and its Revolution Proof of Stake system, Focus will support the storage of content directly on-chain for 1/10,000th of a cent per post, which is much less than Solana at ~$1 per post or Ethereum at ~$100+ per post.

One of the key features attracting users to Focus is the opportunity to reserve $FOCUS tokens. This process is akin to staking, with a unique twist – users can reserve tokens using various supported currencies such as BTC, ETH, SOL, USDC, and DESO.

Focus allows anyone in the world to become an owner, even prior to the app launch. Imagine owning a piece of Meta or Twitter before it was even released. Users who participate in the early reservation period is able to buy $FOCUS tokens, and also receives an extra bonus equal to the amount listed, currently set at 90% and drops by 5% each week until the app launch. This is a benefit designed to reward early supporters and adopters of the platform.

The reservation process is user-friendly and fully refundable, ensuring participants can confidently support the platform while maintaining financial flexibility. As Focus gears up for its app launch, the excitement within the community is palpable. With its innovative approach to tokenomics, Focus is poised to redefine the landscape of social media and cryptocurrency.

To reserve tokens and earn a 90% bonus in $FOCUS, prospective users should visit Focus.xyz and reserve their funds before 11:11 am EST on February 8th. The bonus will drop every week until the app goes live.

About Deso

DeSo is the first and only censorship-resistant Layer-1 blockchain purpose-built to power storage-heavy apps and scale decentralized social networks for mass adoption. Their mission is to decentralize social media like Bitcoin and Ethereum are decentralizing finance. DeSo has gained significant adoption and boasts 2.6M users (wallets) and 93M transactions. With Focus, DeSo aims to usher in a new age in crypto led by cutting-edge consumer apps that scale to billions of users.

 

Contact

Head of Growth
Ed Moss
DeSo Foundation
ed@deso.org

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Social Web3 platform Friendzone to launch on Polygon PoS

Friendzone, a decentralized social marketplace with native reward share, is set to launch on Polygon PoS.
The integration will boost Friendzone’s growth as it leads social media’s Web3 transformation, the platform said.
Further expansion is expected with Friendzone later launching on Polygon zkEVM.

Friendzone, the social Web3 platform with native reward share, is expanding to Polygon PoS, according to details shared with CoinJournal today.

Polygon PoS is Friendzone’s first blockchain expansion and the team expects further integration with Polygon zkEVM will follow.

Friendzone, which boasts core contributors and advisors from leading crypto projects such as Synthetix, Band Protocol and Koinly, said it will leverage Polygon’s infrastructure to bolster adoption of SocialFi applications.

For instance, Polygon brings cross-chain syncing and composability to Friendzone, opening up the social marketplace for developers. Launching on Polygon PoS will also enhance Friendzone’s ecosystem via key partnerships and innovations.

Choosing Polygon PoS as our first blockchain was a strategic decision rooted in our shared commitment to scalability and our alignment in the development of consumer-centric Web3 applications,” Kevin Lu, the CEO & Co-Founder of Friendzone, said in a statement.

The infrastructure not only aligns with our mission but also enhances our capabilities, propelling us to lead the way in Web3 adoption,” Lu added.

Friendzone spearheading new era for SocialFi

Also crucial to this integration is the benefit that Polygon brings in terms of network speed and scalability. Friendzone can tap into these features to enhance its growing presence in the industry, particularly bringing Web3 expertise to the social media space.

Friendzone seeks to boost the creator economy, with fans incentivized to contribute to creators via its FZE token.

Marc Boiron, CEO of Polygon Labs, commented, “Friendzone is at the forefront of a new era for social media that leverages the full potential of Web3 to offer unparalleled user experiences, creator monetization, and community engagement, and we are excited to see this vision coming to life on Polygon.”

According to today’s announcement, Friendzone expects to go live on Polygon PoS later this month. The platform announced a 25 million FZE airdrop in December 2023. Accumulating Friend points will earn early adopters $FZE ahead of Friendzone’s Beta Launch.

The post Social Web3 platform Friendzone to launch on Polygon PoS appeared first on CoinJournal.

Ethereum’s Dencun upgrade deploys on Holesky testnet

Ethereum core developers activated Dencun upgrade on Holesky testnet on February 7, 2024.
Holesky is the final testnet before mainnet deployment.
ETH price rose slightly on Wednesday morning to trade above $2,370.

Ethereum has activated the Dencun upgrade on the Holesky testnet, going live approximately 6:35 am ET on Wednesday, February 7.

Nethermind, an Ethereum execution client, confirmed Dencun’s deployment on the Holesky testnet.

Holesky 🤝 blobs
Dencun is live on the Holesky testnet! Nethermind nodes are green 🟢

Mainnet, you’re next 🔜 pic.twitter.com/ZoQqxX4jnb

— Nethermind (@NethermindEth) February 7, 2024

With this milestone, Ethereum has moved closer to proto-danksharding (EIP-4844), which targets network improvements on the execution and consensus layers.  

EIP-4844, with blobs of data processing, targets scaling the network and lowering transaction costs for ETH dApps. It’s a significant development that could potentially boost the network and Layer 2 Rollup chains.

The implementation is the final testnet before the mainnet activation and comes after the deployment on the Goerli and Sepolia testnets on January 17 and January 30, 2024 respectively. The date for mainnet activation for Dencun will be announced after a core devs call later today.

Ethereum price

ETH price reacted slightly upward following the successful activation of Dencun on Holesky. 

At the time of writing, the cryptocurrency traded near $2,370, about 2% up in the past 24 hours. ETH has been ranged since the breakdown from highs near $2,700 in January.

However, analysts are bullish on Ethereum price as crypto eyes solid upside momentum in the next 12-24 months. Recently, analysts at Standard Chartered Bank said ETH could rally to $4,000 in May, with the spot Ethereum ETF approval one of the key tailwinds.

The post Ethereum’s Dencun upgrade deploys on Holesky testnet appeared first on CoinJournal.

Dymension mainnet launch and genesis rolldrop ignites DYM price surge

Dymension’s mainnet launch and genesis rolldrop drive DYM price up by 40% to $5.59.
The strategic airdrop targets diverse blockchain communities, offering $390M worth of DYM tokens.
Dymension’s RollApps infrastructure revolutionizes dApp deployment with flexibility and scalability.

Dymension, an innovative blockchain network, has successfully launched its mainnet, marking a significant milestone in its journey towards empowering developers worldwide. Leveraging Cosmos technology and the Inter-Blockchain Communication (IBC) protocol, Dymension recently launched Rollup, a cutting-edge platform for creating application chains known as RollApps.

The mainnet activation has paved the way for the introduction of the highly anticipated “genesis rolldrop,” a strategic initiative aimed at engaging early users and select communities.

Dymension (DYM) price reaction

Following the mainnet launch and the announcement of the genesis rolldrop, the value of Dymension’s native token, DYM, experienced a remarkable surge. CoinMarketCap data reveals a staggering 40% increase in DYM’s price, reaching $5.59.

Dymension price chart

The price surge reflects investor optimism surrounding Dymension’s innovative approach and its potential to revolutionize decentralized application development.

The genesis rolldrop, encompassing over $390 million worth of DYM tokens, targeted a wide range of blockchain communities, including users from Solana, Celestia, and prominent Ethereum scaling networks. Notably, holders of popular NFT collections such as Pudgy Penguins on Ethereum were also eligible to participate in this strategic airdrop.

Dymension’s RollApps infrastructure

Dymension’s RollApps infrastructure represents a paradigm shift in decentralized application (dApp) deployment, offering developers unprecedented flexibility and scalability. With RollApps, developers can create customized application chains tailored to their specific needs, leveraging a diverse range of virtual machines and tokens.

The platform’s phased approach to RollApps development, including Permissioned RollApps and Permissionless RollApps, underscores Dymension’s commitment to fostering decentralized innovation. Through seamless interoperability and a focus on user engagement, Dymension aims to catalyze growth within the blockchain marketplace, driving the adoption of decentralized technologies worldwide.

With DYM’s value surging and RollApps poised to revolutionize application deployment, Dymension is poised to leave a lasting impact on the future of decentralized technologies.

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Significant investor shift towards NuggetRush may influence XRP and Render market stand

Ripple Payment services for US customers will soon go live.
Render’s (RNDR) network activity increased towards the end of 2023.
NuggetRush presale continues to turn heads after selling 170 million tokens.

XRP will launch Ripple payment services for its US customers. Render (RNDR) has also improved in its network performance metrics.

Yet, NuggetRush seems like the most exciting gaming project in the play-to-earn space. After selling 170 million tokens, investors have fallen in love with its presale. Yet, can NUGX outperform top crypto coins like XRP and RNDR? Let’s find out what market experts think.

NuggetRush: rewardable gaming supporting miners worldwide

NuggetRush is the gaming experience that many play-to-earn connoisseurs have long sought. It combines the desire for attractive NFT rewards with the opportunity to contribute to the development of mining communities worldwide. NuggetRush is a virtual mining experience that is native to the Ethereum network.

Gamers and investors from all countries are invited to join the mining experience on NuggetRush. It offers the opportunity to start a lucrative business where natural resource mining is the central service you offer. It comes with a well-equipped marketplace where miners turn their efforts to cash. 

Minerals and collectibles sold on NuggetRush’s marketplace come with attractive benefits like extra NFTs and a boost in mining efficiency. As mentioned earlier, NuggetRush offers the opportunity to support artisanal mining communities worldwide. 

A share of all profits from the game is donated to such communities. This satisfies the desires of many gamers looking for Impact gaming opportunities. Another way gamers earn money from NuggetRush is by staking their NFT assets. The game’s staking payouts go as high as 20%, depending on the NFT lock-up duration.

NuggetRush is becoming more popular as investors are abuzz over its 80% token growth. By round five of its presale, NUGX has sold 170 million tokens. Its blockchain ICO is now among the most popular in the market. All eyes are turning toward NUGX’s listing, which will follow an increase to $0.020.

For more information about NuggetRush and its ongoing presale, visit the NuggetRush Presale Website.

XRP unveils payment services for US markets

On February 4, 2024, XRP’s community went abuzz over the launch of Ripple Pay services for the US market. The announcement indicated a growing focus on XRP’s US markets. Furthermore, it came as part of XRP’s plans to boost its services in the payment sector while fending off competition from altcoins like Litecoin.

XRP’s new payment services could help change its current market downturn. It traded at $0.6254 on January 2. XRP fell by 12.9% to $0.5443 on January 19. Its decline continued, and XRP fell by 4.6% to $0.5189 by February 3.

XRP’s payment services could help boost its investor sentiment, which reduced because of its ongoing legal troubles. Ripple Labs is in a heated tussle with the SEC over XRP’s true financial status. Some analysts say the outcome of that case will impact XRP’s performance in 2024. 

Furthermore, they conclude that XRP could rise by 11.5% to $0.5789 due to excitement around its new payment service. Still, XRP’s recent performance means it’s not a good crypto to buy now.

Render performance in Q4 2023 increased

Render (RNDR) has published its network performance reports for Q4 2023, showing an impressive increase from previous quarters. The report showed that Render recorded a 29% increase in frames rendered in Q4 2023. Furthermore, usage of RNDR tokens had also increased by nearly 50%. 

Render’s (RNDR) improved performance preceded its wobble in January 2024. RNDR traded at $4.7460 on January 1. It fell by 20.6% to $3.7659 on January 15. RNDR recovered by 8.3% to $4.0800 on January 27 before jumping by 15.6% to $4.7175 on February 3.

Render (RNDR) network also recorded an impressive Year-on-year growth, indicating growing interest in the network. Furthermore, analysts predict an improvement in Render’s market performance since its Burn and Mint Equilibrium upgrade. Analysts say the upgrade could improve Render market pump, thus pushing RNDR’s price up by 10.4% to $5.2104.

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Cardano growth could spark fresh rally; $GFOX nears $4 million

Cardano is on a recovery trend like other altcoins in the crypto market. Its bullish sentiment is getting stronger, indicating a fresh rally is imminent. With this promising outlook, investors may see an upward trend in cryptocurrency in the coming months. 

$GFOX has also continued its impressive ICO run. The presale token is headed to a new milestone, and enthusiasts are still optimistic about a good post-ICO yield. 

Cardano ($ADA) expected to rise by Double digits 

The crypto market is improving, and pundits expect price action from top altcoins, including $ADA. The cryptocurrency is testing a formidable resistance as it eyes a recovery run. Analysts from Santiment believe the shark and whale are fueling $ADA’s rally. Per reports, about 639 million new addresses holding around 100k – 100 million $ADA have surfaced in the crypto space in the last eight months. 

The revival of these wallets could push $ADA to break its $0.54 resistance zone and surge to $0.60 or higher. This will be a double-figure percentage rise for the altcoin. At press time, $ADA changed hands around $0.49, about a 2% decline from its $0.50 24-hour high. The daily trading volume gained 24%, ranking 18th, while the market cap decreased by 2% but still maintained its $17.5+ billion value. 

$ADA’s sentiment is gradually becoming bullish, and current holders may count their gains much sooner. Also, new investors may find this the best time to purchase the cryptocurrency. The positive signal from $ADA downplays the prediction that it will exit the top 10 cryptocurrencies ranking. The altcoin ranks 8th, and the imminent recovery rally could take it above this position. Hence, crypto enthusiasts should prepare to make the most of it.

$GFOX presale rallies beyond $3 million  

Investors have switched their focus to crypto ICOs, and Galaxy Fox is among their best options. The new meme coin has been incredible in its ICO phase, gaining massive attention and popularity. Galaxy Fox presale has raised over $3 million, with about 97% of its current tokens’ allocation sold out. $GFOX’s progress has convinced many that it is a top project, and early adopters are poised to gain the most from its success. 

Galaxy Fox is set to be a prominent web3 token. It will function as a utility token in the web3 space, unlocking numerous opportunities for financial improvement. This feature has increased investors’ interest in the meme coin significantly. The multifunctional meme coin will combine play-to-earn and NFTs features with its meme nature, giving it more use cases and real-life benefits. These traits will aid $ GFOX’s bid to be a top meme coin. 

Galaxy Fox presale has a 3.5 billion token allocation billed to sell out in ten stages. However, only 54+ million tokens are left, and the meme coin is still in its 7th stage. This shows $GFOX’s high adoption and how competitive the latter stage of its presale will be. The meme coin is moving towards the $4 million milestone and will smash it before its next presale phase ends. 

Savvy investors already have a stake in Galaxy Fox, positioning them for high returns. However, it’s not too late to join the presale too. The meme coin has a few stages left, and potential investors can still get their stake ahead of the expected price rise in its retail phase. Early commitment means higher potential profit. Hence, now is the next best time to get in. 

$GFOX presale’s 15% bonus

Investors can enjoy up to a 15% bonus on $GFOX’s presale with the unique promo code “SATURN15.” This gives them additional tokens to what they purchase, Increasing their holdings’ value. $GFOX’s presale price will move from $0.00198 to $0.002178 soon. Thus, investors eyeing higher purchasing power should act now. 

The market has witnessed many meme ICOs, but only a few have been successful in the retail phase. Galaxy Fox aims to be among these few, and the meme coin’s features make it achievable. $GFOX will be available on UniSwap v2. and other top CEXs post-ICO. This will increase its market prominence and exposure. It’s expected to boom at this stage. 

To learn more about $GFOX, visit Galaxy Fox Presale or join the Community.

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Bitget Introduces NAVI Protocol (NAVX) to the Innovation and DeFi Zone

Victoria, Seychelles, February 7th, 2024, Chainwire

Bitget, the world’s leading cryptocurrency exchange and Web3 company, is excited to announce the upcoming listing of NAVI Protocol (NAVX) in its Innovation and DeFi Zone. NAVI Protocol, the first Native One-Stop Liquidity Protocol on Sui, is set to revolutionize DeFi within the Sui Ecosystem.

NAVI Protocol stands as the pioneering Native One-Stop Liquidity Protocol on Sui, designed to empower users to engage as liquidity providers or borrowers within the Sui Ecosystem. Liquidity providers contribute assets to the market, earning passive income through yields, while borrowers have the flexibility to access loans for various assets. With a focus on providing essential DeFi infrastructure, NAVI Protocol aims to become a cornerstone in the rapidly evolving DeFi landscape within the Sui Ecosystem.

NAVX introduces innovative features such as Automatic Leverage Vaults and Isolation Mode, enabling users to leverage their assets and access novel trading opportunities with minimized risks. The protocol supports digital assets at different risk levels, all while prioritizing user fund protection and mitigating systemic risks. NAVI Protocol’s name derives from the original Indian language, signifying “Be Kind to People,” reflecting the team’s commitment to fostering mass adoption of DeFi through the simplicity and security offered by the Move programming language.

Bitget has been consistently expanding its market share in both spot and derivatives trading among centralized exchanges. Bitget aims to provide opportunities for users to invest in popular and valuable projects and is actively expanding the variety of digital assets in its spot market. In 2023, the platform has added over 350 new listings. Meanwhile, Bitget Wallet supports over 100 mainnets and 250,000+ tokens. Its on-chain trading function Bitget Swap enables cross-chain trading between 40 mainnets.

NAVI Protocol (NAVX) will be available for trading on Bitget’s Innovation and DeFi Zone, providing users with access to cutting-edge DeFi solutions. For more information, please visit

https://www.bitget.com/support/articles/12560603805171

About Bitget

Established in 2018, Bitget is the world’s leading cryptocurrency exchange and Web3 company. Serving over 20 million users in 100+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions. Formerly known as BitKeep, Bitget Wallet is a world-class multi-chain crypto wallet that offers an array of comprehensive Web3 solutions and features including wallet functionality, swap, NFT Marketplace, DApp browser, and more. Bitget inspires individuals to embrace crypto through collaborations with credible partners, including legendary Argentinian footballer Lionel Messi and official eSports events organizer PGL.

For more information, visit:

Website
Twitter
Telegram
LinkedIn
Discord
Bitget Wallet

 

Contact

Rachel Cheung
media@bitget.com

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Ether tops $2,350 despite a bearish trend: Will it rally towards $2,500 soon?

Key takeaways

Ether is outperforming Bitcoin and a few other major cryptocurrencies after adding more than 2% to its value.

Bitbot’s presale is now in the third stage and the team has raised nearly $450k.

Ether outperforms Bitcoin 

Ether, the second-largest cryptocurrency by market cap, has been performing well over the last 24 hours. The coin is up by more than 2% during that period. At press time, the price of Ether stands at $2,362 per coin. 

Ether is currently outperforming Bitcoin and a host of other leading cryptocurrencies. Bitcoin is now eyeing the $43,500 mark as the market begins to soar higher. 

What is Bitbot? 

Market conditions have begun to improve and more investors are looking for quality projects to invest in. One of the projects that could become a leader in the market is Bitbot. 

Bitbot is a Web3 project that is set to bring unique value propositions to traders in the cryptocurrency space. It is a Telegram trading bot that puts the power in the hands of the user. Bitbot is a self-custodial trading bot that enables users to trade via their cold wallets on Telegram. 

According to their whitepaper, Bitbot intends to provide an innovative way of trading as it leverages Telegram’s position as a leading social media platform for crypto users. 

The team also revealed that Bitbot will provide users with high-end features to help them grow their trading portfolios. Some of these features are institutional grade, granting them access to world-class trading functions.

Bitbot will leverage the rising trading volume in the crypto market to gain massive adoption in the coming months and years. 

Bitbot brings technological innovation to traders

Bitbot intends to bring technological innovations that would benefit traders. The development team is working on some exciting tools that would make the trading process easier for its users. 

One of Bitbot’s key features is that it prioritises security. According to the team, Bitbot will leverage Knightsafe to offer a self-custody solution. This solution helps in mitigating the typical risks associated with Telegram trading.

The team will use some of the funds raised from the presale to develop anti-MEV and anti-rug solutions for users to protect their assets. With these features, traders can protect themselves from bots artificially pumping transaction costs and block scam projects.

The use of ultra-flexible wallet management fuelled by non-custodial API technology is another security feature available on Bitbot. 

To help traders boost profitability, Bitbot is working on a copy trading feature. This feature will enable traders to copy the trades of the strongest-performing wallets based on on-chain activities.

Bitbot’s presale surpasses $400k

The Bitbot presale is now in its third stage and is now moving swiftly. The project has raised more than $440k so far and is more than halfway through the $630,000 target. 

The new milestone of $440k shows that Bitbot is gaining fast adoption within the cryptocurrency space. The $BITBOT token is going for $0.011 in the current presale round and will increase to $0.0116 once the fourth round commences. 

According to their whitepaper, the Bitbot development team will hold 20% of the total token supply and will use it to fund ongoing development. 14% is allocated to marketing & CEX listings while 3% is allocated to exchange liquidity provision.

Click here to read more about Bitbot’s upcoming presale. 

Could Bitbot perform excellently in 2024? 

The cryptocurrency market is expected to rally higher in the coming months thanks to the upcoming Bitcoin halving and other important events. These catalysts could result in a Bull Run over the coming months.

If that happens, BITBOT could become one of the biggest winners in the market. As trading volume in the market increases, BITBOT could also see a spike in adoption if it rolls out its features and solutions. The development team is putting in the work to become an excellent project for cryptocurrency traders.

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