Coin overview
BB
Ended--
Last price (USDT)
55.28K
24h total (USDT)
448.93K
Total vol (USDT)
2024-04-25 08:00:00 ~ 2024-05-13 09:30:00
Trading time (UTC+0)
2024-05-13 12:00:00
Delivery time (UTC+0)
Total supply2.10B
Resources
Introduction
BounceBit is the first-ever native BTC Restaking chain. The BounceBit network is secured by staking both Bitcoin and BounceBit tokens. BounceBit's PoS mechanism introduces a unique dual-token staking system by leveraging native BTC security with full EVM compatibility.
3 Understated Signs Suggest Cardano (ADA) Price Risks Falling Below $0.70
Recently, Cardano (ADA) attempted to reach $0.80 but fell short, with its price now at $0.75. This decline has sparked concerns about its short-term prospects. These concerns might be valid, especially as this on-chain analysis suggests that ADA could slip lower than it has in recent times. Cardano Liquidity Concentration Goes Lower According to Coinglass, the liquidation heatmap is one key indicator suggesting that ADA’s price could decrease. For context, the heatmap pinpoints price levels where large-scale liquidations might occur. The indicator also identifies price levels with a high concentration of liquidity. When liquidity is concentrated in a specific area, it often signals that the price is likely to move toward that region. On the liquidation heatmap, this is represented by a color shift from purple to yellow, indicating higher liquidity. Further, the one-week liquidation heatmap for Cardano reveals that the concentration has shifted to $0.69. Based on this observation, ADA’s price could potentially drop from $0.75 to $0.69 in the short term, aligning with the prevailing market conditions. Cardano Liquidation Heatmap. Source: Coinglass Another indicator supporting the potential decline in Cardano’s price is the drop in trading volume. On November 16, Cardano’s volume was nearly $6 billion. However, according to on-chain data from Santiment, it has since dropped significantly to $1.78 billion. Trading volume measures investor interest by measuring the total value of tokens exchanged within a specific timeframe. Rising volume indicates heightened interest and activity, often leading to an upward price surge. Conversely, a decline in volume suggests waning interest. If reversed, this could have averted another Cardano price decrease. Therefore, the notable drop in Cardano’s volume, combined with its recent price decline, signals reduced demand and increases the likelihood of further price depreciation in the short term. Cardano Volume. Source: Santiiment ADA Price Prediction: $0.63 Could Be Next On the daily chart, BeInCrypto observed that the Bollinger Bands (BB) has expanded. The BB is a technical indicator that measures the volatility around a cryptocurrency. Depending on the buying or selling pressure in the market, an expanded BB could cause a quick drop or hike in price. Further, the BB also shows if an asset is overbought or oversold. When the upper band of the BB touches an asset’s price, it is overbought. On the other hand, if the lower band hits the value, it means that the token is oversold. For Cardano’s price, the upper band touching the price suggests that the altcoin could face a drawdown below $0.68. If selling pressure rises, ADA could drop to $0.63. Cardano Daily Analysis. Source: TradingView However, if Cardano’s volume increases with a resurgence in buying pressure, this might change. This could also happen if investors decide to HODL instead of liquidating their assets. In that scenario, the value could jump to $0.82.
I Thought This Was a Bull Run: Why is Crypto Down Today?
Your first bull run? Don’t sweat it; with Bitcoin down, many new retail traders are asking why crypto is down today? And Why is crypto down? Jump into crypto market analysis here. Crypto prices are cooling off after record gains on November 11. Data streams from Coingecko show that the total market cap is down 3.5% to $3.02 trillion. Interestingly, even if the total market cap is slightly lower, it remains higher, at over $3 trillion, more than it was by the start of this week. Crypto Slows Down After Bitcoin Rejects At $90K As of November 6, the total market cap stood at $2.41 trillion, but over the past week, this number has sharply increased, peaking at $3.1 trillion yesterday before dropping to spot levels. Over this time, Bitcoin, Ethereum, Solana, BNB, and other altcoins added a whopping $700 billion. ( Source ) This capital surge saw Bitcoin break $90,000 for the first time in history, lifting sentiment and sparking a wave of demand for high-risk, high-reward tokens, mainly meme coins. When Bitcoin broke $90,000, the total valuation of meme coins also rose to over $117 billion, a near 2X spike in less than a month. To determine whether the cool-off will continue, the performance of Bitcoin over the next few days will provide a hint. It is easy to see why. Bitcoin commands a market share of over 57% as of November 13. Additionally, it has a direct correlation with altcoins. Any BTC rally often lifts other quality altcoins, including WIF, Solana, BNB, etc. ( Source ) The less liquid a token is, the more gains there are. However, this also means that altcoins tend to lose more when BTC slumps. DON’T MISS: The Next Cryptocurrency to Explode in 2024 Will The Bitcoin And Crypto Uptrend Continue? So, the question is, will the uptrend continue? A close look at the daily chart shows that Bitcoin Price Trading volume in 24h Last 7d price movement is cooling off after the possible overextension on November 12. Following through on the November 11 bullish bar, prices closed above the upper BB as a bear bar. Prices appear to be searching for equilibrium at spot rates, dropping lower into the Bollinger Band range. ( BTCUSDT ) Though the coin is down, the uptrend remains, and the momentum for the upside is high. Bitcoin bull bars band along the upper BB, indicating high volatility and strength. In the short term, the local support will be the November 12 low at $85,000. If bulls sustain prices above this round number, the coin can easily breach $91,000 as optimistic traders target $100,000 and later $102,000. Thus far, Willy Woo, an on-chain analyst, thinks this will be the case. Taking to X, Woo said there are no prior resistances above this week’s highs at around $90,300. Therefore, if there is a firm breakout, the Fibonacci extension tool places Bitcoin at $102,000 should bulls press on. However, as a caution, the pace of this growth will largely depend on market conditions and the general flush out of over-leveraged long positions. DISCOVER: The Hottest Upcoming Binance Listings in 2024 Meme Coin Market The Flush Out: Liquidations Rip Through the Market According to Coinglass, the pullback on November 12 saw over $619.5 million of leveraged positions liquidated. Most of them were longs, at $420 million, and others were shorts, at $198 million. More than 204,000 traders experienced liquidation, with the largest single order for the ETHUSDT trading pair on Binance valued at $11.87 million. ( Source ) Altogether, Dogecoin, Ethereum, and Bitcoin traders saw the most liquidation on Binance, OKX, and Bybit. If this deleveraging continues, the uptrend will be slowed as the market flashes out speculators keen on overleveraging, maximizing gains. EXPLORE: Ginnan The Cat Explodes +105% Amid Dogecoin Powered Meme Supercycle Join The 99Bitcoins News Discord Here For The Latest Market Updates
BounceBit’s Launches CeDeFi V2; Aims to Simplify Cross-Chain Investments
BounceBit has introduced the new version of CeDeFi platform. The new version includes boosted APY rewards, along with new features. In the first hour, CeDeFi attracted more than $10 million in inflows. BounceBit , a centralized decentralized finance (CeDeFi) protocol, launched CeDeFi V2. Incidentally, BB, which is the native token of BounceBit, rose by more than 3.73% in the past 24 hours. The new version of CeDeFi offers great returns and new features for users. A major upgrade which the CeDeFi V2 brings is multi-chain support for Ethereum (ETH), BNB, Solana (SOL), Bitcoin (BTC) without the need to bridge funds to BounceBit’s chain, which will save a lot of hassle for the users and they will be able to streamline their investments in an easy way. Source: Twitter The total value locked (TVL) in BounceBit’s CeDeFi V2 has surpassed $12 million. Over $10 million entered the new project in the first hour. This shows that many people want similar products. As the market rises, TVL is predicted to increase. Some of the new features in CeDeFi V2 include increased user flexibility, new Auto, Fixed, and Manual strategies, and higher APY rewards. BTC, SOL, ETH, and BNB give 6% APY returns, and USDT gives 12%. Read also: Bitcoin Hits New All-Time High, Fueling Altcoin Breakout Predictions Will the BB Token Reach a New All-Time High? With the debut of CeDeFi V2 and new user-friendly features from BounceBit, the native token of the protocol, BB, is expected to make a move towards its all-time high of $0.8655, witnessed in June this year. At the time of writing, BB is trading at $0.3519, down 58.12% from its ATH. BB faces resistance at $0.4. The daily chart from TradingView shows that the Relative Strength Index (RSI) is above 61, which shows that BB’s price is rising. However, the chart also shows that the price may decline soon. BB may reach the resistance at $0.4 soon. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
Today's Must-Read | Twitter Featured Views [November 11th]
1.Rui: $BONK will start a new round of growth $BONK has just broken through the huge triangle consolidation range of the past year. If the pullback is confirmed, this will be an opportunity worth bold layout. Rui believes that BONK's next step will be quite radical, especially with the accumulation of the following catalytic factors, it will stand out among the many meme coins: 1. Robinhood and Webull listing rumors are approaching, which will unlock the liquidity of US retail investors 2. The only memecoin with ETP 3. Coinbase's only new memecoin 4. BonkBot's strong repurchase/destruction pressure 5. Upbit USDT trading pair has been launched, and Korean Won (KWR) trading pair will be launched soon, which may stimulate the enthusiasm of the Korean market These catalysts make BONK undeniable. Soon you may see discussions of "Bonk Guy" again on the timeline. See the original text: https://x.com/YeruiZhang/status/1855793542758814015 2.Shelby: $FLOKI's Continuously Strong OG Meme $FLOKI is one of the few remaining OG memes, following $DOGE and $SHIB. The difference is that Floki is actually practical and has built a huge ecosystem in the past three years. This is also the reason why I don't easily chase after random rises - I prefer #memecoins that survive in bear markets and have fundamental support, especially #Floki. See the original text: https://x.com/CryptoNewton/status/1855584946959552886 3.WIZZ: Optimistic about $DOGE surpassing mainstream coins DOGE may surpass all mainstream coins in the next few weeks or months. Everything is ready. -Elon Musk concept Department of Government Efficiency (D.O.G.E) Narrative -X payment potential benefits Heavily optimistic about this opportunity. See the original text: https://x.com/CryptoWizardd/status/1855699751746117975 4.XO: Analysis of $WIF Trading Strategy XO proposed two possible transaction scenarios for $WIF: Breaking through the median line: If the price breaks through the median line, it will force the bearish position to squaring, further pushing up the price. Brief pullback: The bears received brief relief, and the price continued to rise after a slight pullback. XO said that regardless of the scenario, he maintains a bullish positioning and will continue to hold. See the original text: https://x.com/Trader_XO/status/1855659947381379460 5.Rui: The Awkward Positioning of SCR and Its Relationship with Trump Scr is an awkward existence in Trump's target, with several key points: 1. SCR is supported by Polychain and is also the largest supporter of Trump's WLFI project. Among the three major crypto funds in the US, only Polychain explicitly supports Trump, and even once worked at Mar-a-Lago. 2. It is speculated that Polychain's position cost is in the range of 7-900 million dollars, and the position ratio is close to or even more than 10%. 3. The essence of WLFI is to raise campaign funds for Trump. Based on non-public data, in the last 20 days of the campaign, Trump's funds were in crisis, but he could not directly and quickly obtain political contributions from the US people. Therefore, he opened an overseas fundraising channel through Polychain and SCR, which was a "timely help" move. 4. If SCR is a US project, the dividends obtained may be greater. See the original text: https://x.com/YeruiZhang/status/1855793542758814015 6.Hitesh.eth: The impact of the launch of the application chain on investors As decentralized applications gradually transform into independent application chains, investors can obtain more value from them. ENS is becoming Namechain Uniswap is becoming Unichain MakerDAO will launch Makerchain Aave will launch Aavechain Trading viewpoint: Enhance the practicality of tokens: The launch of the application chain has added new uses to the original application tokens (such as ENS, UNI, MKR, AAVE), such as staking and using them as on-chain gas fees. Inflationary incentives: Many application chains may introduce new token supply to incentivize ecological growth, which will bring annual inflation of tokens, but also provide additional incentives for holders. Token value increase: The new uses and growth catalysts brought by the application chain help to increase the market attention and demand for tokens, expand community support, and thus drive up token prices. For investors, the launch of the application chain is not only an opportunity for value capture, but also a powerful catalyst for price growth. See the original text: https://x.com/hmalviya9/status/1855832167705919677 7.Chen Jian Jason: BounceBit V2 version launched, observation of the transformation of BTC ecological asset management projects BounceBit's V2 version was officially launched today. Chen Jian Jason pointed out that this is a public Alpha test, and the launch time and content were announced in the document half a month ago. The current price has risen from the previous low of 0.23 to 0.35, and the structure is still relatively healthy. Jason believes that investors who hold a large amount of $BB or open contracts should closely monitor this trend and pay attention to latent risks. Trading viewpoint: BounceBit is one of the early projects in the BTC ecosystem, but it has gradually weakened the BTC label and focused on multi-chain asset management such as ETH, Sol, and Sui. This transformation reflects the team's response to the "source of income" problem faced by BTC staking projects. The V2 version introduces the concept of CeDeFi, which not only provides on-chain staking income, but also adds a quantitative arbitrage income model. These assets are held under compliance agencies Mainnet Digital and Ceffu, further enhancing security. The newly added CeDeFi SaaS and BounceClub features, including user-defined AI Agents and PumpFun Meme launcher, bring more application scenarios to $BB and further consolidate its positioning as an asset management platform. Overall view: Chen Jian Jason emphasized that the BounceBit team has strong execution and has been active in product iteration. The team obtains profits through real TVL liquidity, avoiding simple TVL lifting strategies, which has positive significance for the long-term stability of the asset management platform. The current FDV is 700 million, the circulation is 160 million, and the next unlock will be in May next year. There will be no new coins released in the next six months. Investors can evaluate their holding strategies from a long-term perspective. See the original text: https://x.com/jason_chen998/status/1855813095375135215
BounceBit: Season 2 Second Batch of ENA Allocation Open for Claim
On November 7th, BounceBit announced in a post that the second batch of ENA distribution for Season 2 is now available online, and users can apply for it through the official portal website.
U.S. Election Impact on Bitcoin: Will Historical Election Day Price Trends Predict the Next Rally?
Despite a surge past $73,000, Bitcoin faces resistance, retreating to $67,000 as market optimism begins to wane. Bitcoin’s struggle near $74,000 contrasts with BlackRock’s IBIT success, hinting at limited new investment in Bitcoin ETFs. As the U.S. election approaches, financial analysts and investors are closely monitoring Bitcoin and other cryptocurrencies for potential price movements following the announcement of election results. This focus stems from a historical pattern observed in Bitcoin’s price behavior on U.S. election days , which has consistently set a minimum price level for subsequent market rallies. Bitcoin After U.S. Elections 🔸Bitcoin has alway gone PARABOLIC after a US election. 🔸Bitcoin has never dipped back lower than the price on election day. Locked & Loaded 🔥🔫 pic.twitter.com/nt7GnVV5lN — Bitcoin Archive (@BTC_Archive) November 2, 2024 Historical data shows that Bitcoin’s price on U.S. election days has established a base that has not been undercut in the succeeding market phases. For example, during the 2020 election, Bitcoin was priced at $13,569. Subsequent months saw a significant increase, with Bitcoin reaching a peak of over $69,000 in 2021. This price point from election day served as a support level even during the 2022 bear market, underscoring its importance as a foundational price marker. The election’s outcome could significantly influence the cryptocurrency market, as different candidates have varying stances on blockchain technology and cryptocurrency regulations. These positions could lead to shifts in the regulatory landscape affecting the cryptocurrency market’s direction post-election. If the historical trend continues, Bitcoin might experience another substantial rally following the election. This potential is based on observed patterns from past election cycles where Bitcoin has shown robust gains after the election day price was established. Bitcoin’s Weekly Chart Indicator Bitcoin, recognized as the predominant cryptocurrency by market value, recently showcased a “gravestone Doji” candle on its weekly chart, signaling potential bearish outcomes. Uhhhh g-guys… Are we sure that we wanna close the weekly like this? 😳 $BTC pic.twitter.com/EW5djUUPeA — Byzantine General (@ByzGeneral) November 3, 2024 This pattern is marked by a pronounced upper shadow, demonstrating that bearish forces neutralized bullish efforts within the week, culminating in a closing price akin to its opening, after initially soaring higher. Market Reactions and Speculations The emergence of this pattern coincides with Bitcoin’s attempt to breach the $73,000 mark, a move that briefly positioned it above previous monthly highs. Nonetheless, this rally was met with resistance, leading to a regression to the $67,000 level. Analysts note that the subdued breakthrough beyond $74,000, in contrast to the expected trajectory mirrored by notable financial instruments like BlackRock’s IBIT, might stem from the minimal fresh capital inflows into Bitcoin ETFs, especially when juxtaposed with gold ETFs. $BTC 4H starting to breach lower BB https://t.co/wSANMIl70D pic.twitter.com/ZTnAMnMqJW — Cheds (Trading Quotes) (@BigCheds) November 3, 2024 On the technical front, Bitcoin has dipped below the lower boundary of the Bollinger Bands on a four-hour chart, an indication that might concern bullish investors. However, a sliver of optimism is observed with a bullish divergence on the one-hour chart, suggesting a weakening bearish momentum. Source: Coinmarketcap Despite these technical indicators, the overall market sentiment remains relatively optimistic, as indicated by the “Fear and Greed” index still scoring a robust 54 out of 100. This reflects a prevailing investor confidence, hinting that the broader market sentiment hasn’t fully aligned with the bearish indicators from the weekly chart.
BounceBit to launch CeDeFi V2 on November 11, shut down V1 on November 4
On November 1st, CeDeFi infrastructure BounceBit announced that it will launch CeDeFi V2 on November 11th, V1 will be closed on November 4th, and users will need to complete any pending pledge/unpledge operations in V1 by November 4th. after November 11th all user positions will be automatically migrated to V2. early redemptions in V2 will be subject to a fee of 1% of the principal amount. BBTC entrusted to verifiers on the BounceBit network and BBTC and BBUSD held in wallets are not affected.
BounceBit will launch CeDeFi V2 on November 11 and close V1 on November 4
CeDeFi infrastructure BounceBit announced the launch of CeDeFi V2 on November 11th. V1 will be closed on November 4th, and users need to complete any pending pledge/unpledge operations in V1 before November 4th. After November 11th, all user positions will be automatically migrated to V2. Early redemption in V2 will incur a 1% principal fee. BBTC delegated to validators on the BounceBit network and BBTC and BBUSD held in wallets are not affected.
durian.win: 15% of tokens to be airdropped to BounceBit community and CeDeFi V2 users
On October 25th, CeDeFi infrastructure BounceBit tweeted that it will support the perpetual contract trading platform durian.win as its first ecosystem project. 15% of the durian.win token supply will be airdropped to the BounceBit community and CeDeFi V2 users.
durian.win: 15% of tokens will be airdropped to BounceBit community and CeDeFiV2 users
On October 25th, BounceBit, a CeDeFi infrastructure, announced that it will support durian.win, a perpetual contract trading platform, as its first ecosystem project. 15% of the durian.win token supply will be airdropped to the BounceBit community and CeDeFiV2 users.
Binance Listing Sends GOAT Price to New All-Time High
Goatseus Maximus (GOAT), the AI-based meme coin trending recently, has hit a new all-time high after Binance announced that it would list the cryptocurrency. Following this development, the GOAT meme coin price climbed to $0.88. This development has sparked speculation in the market, with some suggesting that the market cap could surpass $1 billion. Will that happen? Binance Futures Listing Pushes the Volume Higher According to the Binance announcement earlier today, the exchange will list the GOAT meme coin on the futures market, and users will be able to trade the meme coin using up to 75x leverage. Before the disclosure, GOAT’s price was $0.77. But after that, the crypto’s value surged to $0.88 before it pulled back slightly to $0.85. Following the development, the volume surged to a new high of $434.88 million. In the crypto market, trading volume represents the total number of coins or tokens traded over a specific period. It is a crucial metric that offers insights into market activity and liquidity, helping to gauge the strength and interest in a particular cryptocurrency. Read More: Binance P2P Guide: Understanding What It Is and How It Works Goatseus Maximus Volume. Source: Santiment If sustained, the rising trading volume, coupled with GOAT’s surging value, could push the price above $0.88. Additionally, the Binance futures listing allows more traders to gain exposure to the AI-driven meme coin. This trend appears to be taking shape as Open Interest (OI) continues to climb. According to Coinglass, OI in GOAT has surged by 272% in the last 24 hours, reaching $13.82 million, indicating growing interest from the market. High Open Interest, by itself, signifies strong momentum behind the current market trend. Therefore, if the OI continues to increase, the GOAT’s uptrend will likely persist. Goatseus Maximus Open Interest. Source: Coinglass GOAT Price Prediction: Decline Before Rebound On the 4-hour chart, the GOAT meme coin price has pulled back from $0.88 and is at $0.78. This retracement could be because the meme coin is overbought. For instance, the Bollinger Bands (BB) on the chart shows that the upper line of the indicator has touched GOAT’s price. While this indicates rising volatility around it, it also indicates that the token has been overbought, as mentioned earlier. Assuming the lower band of the BB touched the price, then it would have been deemed oversold. Read More: 11 Top Solana Meme Coins to Watch in October 2024 Goatseus Maximus 4-Hour Analysis. Source: TradingView Considering this outlook, GOAT’s price could decline to $0.70, where the 23.6% nominal pullback sits. However, if Open Interest and volume continue to rise, the price is likely to bounce off the slight retracement. In that instance, it could climb toward $1.
Scroll (SCR) Drops 19% a Day After Market Debut
Ethereum layer-2 network Scroll launched its SCR token in a highly anticipated airdrop conducted on October 22. However, widespread dissatisfaction among recipients, who complained about the small amounts of SCR they received, has put significant selling pressure on the token. Currently trading at $1.04, SCR has seen a 19% decline in the past 24 hours. As bearish sentiment continues to grow, the token’s price may face further losses. Here’s why. Scroll’s Airdrop is the Cause Of Its Problems According to a blog post from the team, Scroll’s airdrop distributed 5.5% of the total SCR supply—55 million out of 1 billion tokens—to early contributors within the ecosystem. Of this amount, 40 million SCR was allocated to on-chain participants who earned 200 or more Scroll Marks, the platform’s reward points for engaging with the layer-2 scaling network. An additional 1% of the supply was evenly distributed across eligible wallets, while 0.5% was reserved as a “bonus” for users who met specific criteria. After the airdrop, some users of the L2 network , disappointed by the amount of coins they received, voiced their frustrations on X (formerly Twitter). One user, Joshyy, described it as the “worst airdrop so far,” sharing his disappointment after “farming Scroll with $60 only to receive 973 $SCR.” Another user claimed to have dumped the tokens they received via the airdrop and bridged all their assets off the chain. SCR Holders Sell Off Holdings This surge in SCR’s selling pressure since its launch has caused its value to plummet by double digits. BeInCrypto’s assessment of its technical setup on an hourly chart signals the possibility of an extended decline. For one, the bearish sentiment trailing the altcoin continues to grow, as evidenced by the negative value of its Bull Bear Power (BBP), which stands at -0.10 as of this writing. Read more: Best Upcoming Airdrops in 2024 SCR BBP. Source: TradingView This indicator measures the strength of buyers and sellers in the market. A negative BBP reading signals that sellers are in control and the market is experiencing downward pressure. Furthermore, SCR’s price trades near the lower band of its Bollinger Band (BB) indicator which measures its market volatility . Trading near this level usually indicates that the market is in a downtrend or facing selling pressure. This lower band usually serves as a support level, but if the price continues hugging this band, it reflects sustained bearish momentum. SCR Bollinger Bands. Source: TradingView SCR Price Prediction: Coin Risks Dropping to New Lows SCR currently trades at $1.04, just above support formed at $0.99, representing its all-time low since it launched. Sustained selloffs amongst market participants will push SCR’s price below this level in the near term. Read more: What are Crypto Airdrops? SCR Price Analysis. Source: TradingView However, if market sentiment changes from bearish to bullish and SCR witnesses a resurgence in demand, its price will initiate an uptrend and climb toward resistance at $1.55. A successful break above this level will make it rally toward the next resistance level at $1.72.
Solana (SOL) 18% Monthly Gain Now Hangs in the Balance
After posting an impressive 18% rally over the past 30 days, Solana’s ( SOL ) price now faces the risk of a deeper pullback that could wipe out a substantial portion of those gains. On Wednesday, October 15, SOL attempted to retest the $160 level but failed to break through. The cryptocurrency is now on the verge of falling below the critical $150 support level. If SOL dips beneath this region, this analysis indicates that the drawdown could result in the asset ending October with a net negative return. Solana Faces Collapse as Bearish Signals Emerge Currently, Solana’s price sits at $153.10, reflecting a modest 1.20% decline over the past 24 hours. Historically, similar movements in SOL’s price have often led to sharper declines. In August, when SOL reached the $153 mark, it quickly lost 15% of its value, dropping to $129.35. September saw a similar pattern with a 12% decline, while October followed suit with a 10% drop under comparable conditions. If this pattern continues, Solana could be facing another double-digit decline. The Bollinger Bands (BB), which tracks volatility , support this outlook. While SOL’s price remains above the middle band , it is not in an upward trend. Thus, if the token drops below the middle band, the anticipated correction could materialize. Read more: 13 Best Solana (SOL) Wallets to Consider in October 2024 Solana Daily Price Analysis. Source: TradingView Another indicator reinforcing this bearish outlook is the Chaikin Money Flow (CMF), which measures the volume-weighted average of accumulation and distribution. A higher CMF reading signals stronger accumulation, while a lower reading indicates increased distribution. On the daily chart, the CMF has dropped below the zero signal line, signaling that Solana is facing heightened selling pressure. If the current trend continues, this further supports the forecast of a potential double-digit decline in SOL’s price. Solana Chaikin Money Flow. Source: TradingView SOL Price Prediction: 10% Retracement Next As noted earlier, Solana’s price is likely to fall below the critical $150 psychological support level. Given the current market conditions, bulls may struggle to defend this zone, potentially leading to another price drop. If this scenario plays out, SOL could see a 10% decline to $136.07, echoing the price movement seen between October 1 and 3. In an even more bearish scenario, if selling pressure intensifies, Solana might experience a further decline, with its price dropping to $125.02. Read more: 7 Best Platforms To Buy Solana (SOL) in 2024 Solana Daily Price Analysis. Source: TradingView Conversely, if SOL manages to hold above the $150 support, a rebound could be on the horizon. In this case, Solana might rally toward $173, a level it hasn’t reached since July.
Interview with BounceBit: V2 Outlook, Simplifying Complexity
Original｜Odaily Planet Daily Author: jk With the rapid development of the DeFi field, Bouncebit has attracted widespread attention since its launch on Binance. From the initial creative concept to becoming an important participant in asset management today, Bouncebits journey is full of challenges and opportunities. Odaily Planet Daily had the honor to interview the founding team of Bouncebit and discussed in depth how they integrated resources and optimized user experience through the innovative CeDeFi model to promote changes in asset management. At the same time, the team also shared the main features of Bouncebits recently released V2 version and how to respond to market changes and user needs. In the interview, the founders of Bouncebit also discussed the milestones that users should expect in the coming months. Their vision is not only to drive their own growth, but also to lead the innovation and transformation of the industry in the wave of decentralized finance. Lets learn how Bouncebit stands out in this competitive market. The following is the full interview: Odaily: Today we can be a little more casual and talk about both projects and industries. We can start with the original intention of starting a business, talk about the starting point of the business, the source of inspiration, and whether there are any interesting stories to share in the middle. Bouncebit: Our original idea was to build a CeDeFi. Ethena was the first to propose a similar concept, but all their transactions were completed by the team. This self-operated model has certain risks, and once a problem occurs, it is difficult to find an effective solution. So we decided to avoid this direct trading method and hand over the transaction to a professional asset management team. We were fortunate to meet many teams that are good at arbitrage, so we chose to integrate resources from all parties and let everyone focus on their own areas of strength, so that we can quickly achieve cooperation. For example, Binances custody service is very powerful, but it is mainly for big players and is almost inaccessible to ordinary users. You need to have a lot of Bitcoin on platforms like Bitmain to enjoy these high-end strategies, which is very difficult for most people. However, despite the excellent performance of these teams, they have a high difficulty in raising funds. I think DeFi is a good financing tool, so we choose to focus on providing financing tools, while allowing other teams to continue to focus on trading and arbitrage, which they are good at. Through this resource integration, retail investors can also enjoy strategies similar to those of big players. We chose Bitcoin as our core asset, in part because Bitcoin Layer 2 was very popular at the time. Although everyone is talking about Bitcoins decentralization, I always believe that Bitcoin cannot do without a certain degree of centralized support. Therefore, we accept the hybrid model of CeFi + DeFi calmly because it is more feasible in practice. Many projects in the Bitcoin ecosystem, such as Babylon, ultimately still rely on centralized hosting services. So it is unrealistic to ignore the existence of centralization. We believe that accepting and integrating the two is the direction of the future. I have been focusing on DeFi for a long time and have experienced the ups and downs of the market, so I hope to find a more long-term and sustainable solution instead of just focusing on short-term gains. This is also the original intention of our choice to conduct transactions from the perspective of capital arbitrage. Odaily: As we all know, Bouncebit first came into the public eye because of Binances Megadrop, which launched Bouncebit, and the number of users skyrocketed in just two days. Now that a few months have passed, how do you view the role of this event? What role did it play in the overall development of the project? Bouncebit: As an asset management project, Bouncebit is different from those DeFi projects that simply roll TVL. Other projects usually just let users keep their funds in their wallets, while we need users to deposit funds into custodial accounts and participate in arbitrage, which is much more complicated than general DeFi products, especially for those users who have lost money before, they will be more hesitant. Therefore, although our user growth is relatively stable, the growth rate is relatively slow. TVL just exceeded 1 billion before Binance issued the announcement. However, even so, we made about 10 million US dollars for users in March and April, which was not achieved through lending, but pure asset management Bitcoin arbitrage. As the first Binance Megadrop project, this event did bring us a lot of traffic and allowed many users to get in touch with and use BTCB for the first time. We also found an effective entry point through the design of this event, that is, users do not need complicated conversion operations, they just need to directly transfer Bitcoin to the BSC chain, and the experience is very seamless. This makes us the first project to make full use of BTCB and successfully attract the attention and participation of a large number of users. Odaily: Let’s talk about new products. Bouncebit is going to release V2 soon, what are the main new products and features? Bouncebit: The V2 released this time mainly includes two parts: one is the V2 of CeDeFi Portal, and the other is the V2 of BounceClub. CeDeFis V2 now supports full-chain and multi-asset. Source: BounceBit Official X CeDeFi Portal has always been our core asset management platform, while BounceClub is a multi-functional interactive platform on the BounceBit chain. In the V2 version, CeDeFi Portal has been fully expanded from the V1 Bitcoin asset management to create a full-chain, multi-asset, multi-strategy CeDeFi asset management platform, and combined with BounceClub, it is equipped with an on-chain reward and rebate system. Users can not only manage assets on multiple chains, but also trade and entertain while participating in asset management, and even participate in the launch of new projects, realizing the true play and earn in one. The upgrade of CeDeFi Portal V2 is relatively intuitive. We have added more strategy products and optimized the contracts, which greatly improved the users operating experience. Specifically: users no longer need to consider cross-chain issues and can place orders directly on their own chains; optimizing the subscription and redemption experience improves the users trading and operation fluency; supported assets are expanded from the original BTC to BNB, ETH, SOL and other assets; in addition to fixed income and self-selected asset management institutions, new automatic and structured products are added. Automatic strategies will help users optimize asset allocation and provide users with more diverse investment options. As for BounceClub, we initially built an operating system similar to the App Store, which attracted many investors in the early stage. However, after development and operation, we found that the actual effect was not as expected. Therefore, in V2, we adjusted the direction, simplified the operation process, and integrated the content that users are most interested in. Now, users can easily experience the popular DApps in the market through our platform, whether playing games or participating in DeFi, it has become more convenient. BounceClub will also play a greater role in BounceBit V2 as an incentive center for CeDeFi users. We will design more gamification methods for asset management users, allowing them to earn money while managing their assets. In the future, BounceClub will launch invitation rebates, game rewards, and new listing activities to further motivate user participation and enhance the user stickiness of the platform. We are well aware that asset management is a long-term and far-reaching matter. We hope to achieve perfection in CeDeFi asset management while making full use of the advantages of Web3. Web3 is actually a mechanism for quickly distributing rewards, so activities and rebates are very effective incentives in this system. Therefore, our positioning is very clear. CeDeFi Portal is the core asset management platform, and BounceClub is the interaction and incentive center. The two complement each other. BounceClub not only provides CeDeFi users with more benefits and entertainment, but also brings more attractive added value to their investment in CeDeFi. Looking back at the development of BounceBit, the mainnet has been online for 6 months. Simplifying the complex is our design concept when developing V2. We found that many product designs in the Web3 field often fall into the misunderstanding of making the complex even more complex - in order to tell a story and increase valuation, the complexity of the product continues to increase, and ultimately dilutes its core value. BounceBits first generation product was relatively complex, and it was our early attempt to explore CeDeFi. Over the past few months, through reflection and market feedback, we realized that users need more intuitive and easy-to-use products. Therefore, in the V2 version, we focused on simplification, removing unnecessary complex functions, and focusing on solving users core needs in asset management. Of course, in the process of simplifying things, some trade-offs are inevitable. For example, we cannot add up the benefits of multiple projects. Although this may reduce attractiveness in the short term, in the long run, products that focus on actual needs and simplify functions can truly win the recognition of users and gain a long-term foothold in the fiercely competitive market, haha. Odaily: I see you keep mentioning DeFi Summer. Can you share your reflections on this historical market and your understanding of the current market and future trends? What is Bouncebit’s strategy in this market? Bouncebit: If you look at the last cycle, why do I think there is no similar DeFi Summer in this cycle? Mainly because the market did not experience a drastic collapse like COVID this time. Usually, the market needs a savior to drive recovery after a big crash, and then a big market will appear. The rise of DeFi Summer is precisely because after the market crashed at that time, everyone flocked to participate and drive the market. This cycle is led by the good news of ETFs. Although the market has been hot for a while, it has now entered a cooling-off period. Therefore, the recent trend has been relatively weak. I think the big cycle will not change in essence. The current state of 2024 is similar to that of 2020, and 2025 is likely to be a new round of big years. The last round of Bitcoins new high was in November 2020, when it rose directly from $20,000 to $68,000 in four or five months. Therefore, in theory, Bitcoin may return to $70,000 or $80,000 by the end of this year, and may rise to a higher level next year if there is a real expectation of $100,000. I am optimistic about Q4 and the entire 2025. In this market context, Bouncebits strategy has always been to remain flexible. When doing asset management, we cannot blindly follow market hotspots, but must adjust strategies in a timely manner according to market changes. Our CeDeFi platform has designed a loop mechanism to encourage user behavior and adjust the income structure according to market dynamics, which is sufficient to effectively respond to market fluctuations. As for arbitrage gains, my understanding is that when the market returns are high, funds may be transferred from other platforms to us; when the returns are lower, funds may flow back to other platforms. We are currently working on the CeDeFi platform. I think the core advantage of CeDeFi is that the funds are not on the chain, but on centralized platforms with proof of reserve like Binance, where there are more than 100 billion US dollars in reserves. In the last cycle, Binances asset size was only 20 billion. This base has increased fivefold, and these funds cannot easily flow out of CEX to become on-chain liquidity. The only way is through CeDeFi. By the way, the popularity of Pendle actually reflects some market anxieties. In the DeFi Summer, everyone was a warrior. For example, opening liquidity pools, incentivizing users to pledge, and even issuing coins in seconds. The rise of Pendle shows that the market lacks confidence in short-term liquidity, and everyone begins to rely on points and delayed liquidity release strategies. This is a manifestation of insufficient market confidence. The current airdrops are no longer comparable to the pure DeFi craze of the year. Therefore, we choose to focus on asset management instead of participating in these short-term speculation of points behaviors. Odaily: There are two more general questions: From the perspective of the current bear market in a bull market, how do you think the differences between Asia and Europe and the United States will be reflected in the cryptocurrency world? Bouncebit: Lets talk about this from a regulatory perspective. I personally think that the original ideal of decentralization is difficult to fully realize. Most projects now actually have varying degrees of centralization, rather than true DeFi, which shows that the ideology of decentralization is not as strong as originally envisioned. Over time, regulation will definitely become more and more stringent, especially the regulation of coin listings. In the future, a clear framework may be introduced that requires all new coin listing projects to undergo registration review. For example, the United States may introduce a new regulatory framework that requires all projects to go through a strict review process. In terms of evaluation criteria, traditional industries pay more attention to financial indicators such as revenue data, while the evaluation criteria of the crypto industry tend to focus on factors such as popularity and TVL. This cognitive difference may become more and more obvious in the future review mechanism. Perhaps the review in the future will be carried out by different entities, one part by traditional regulatory agencies such as the SEC, and the other part by experts within the cryptocurrency circle. In such an environment, I think the cryptocurrency market has gone through multiple cycles and is unlikely to welcome a large number of new users. Many new users entering the crypto market today are trying to gain profits through cryptocurrencies due to the poor global economic environment, rather than people who are truly interested in the technology itself. As the market and regulation mature, the sources and motivations of new users in the future may be increasingly concentrated in these areas. Odaily: Is there any underlying knowledge you can share? Or anything you want to say to new cryptocurrency users, entrepreneurs, or developers? Bouncebit: A metaphor I often use is, do you think Las Vegas can become New York? The underlying logic, functional division and pillar industries of these two cities are completely different. In the world of Web3, similar situations often occur. For example, many people compare Telegram and WeChat. Although both provide mini-program functions, WeChat is a necessity of life, while Telegram has a completely different user base. Telegram users may prefer marginalized activities rather than using daily tools. Therefore, although the two have similar functions on the surface, the underlying logic and user groups determine that they are completely different ecosystems. Will Degen care if you build an e-commerce type mini-app in it? Obviously unlikely, they are more concerned about fast-paced profit opportunities. Just like New York cant become Las Vegas, Las Vegas cant become New York. But no matter which city you are in, you can always build a new road or a new bridge, which is something that every city needs, and this is the opportunity we need to look for in the industry. Also, many people in the cryptocurrency circle are unwilling to admit that they made money by luck. There are many people who made money in the cryptocurrency circle, but lost a lot after entering the traditional industry. I think it is very important to admit that luck is a factor, and at the same time, we must admit that luck accounts for a large proportion in this industry. Success or failure often depends on luck.
Arkham Intelligence to Launch Cryptocurrency Derivatives Exchange, ARKM Token Surges
Last updated: October 12, 2024 04:00 EDT Blockchain analytics firm Arkham Intelligence is set to launch a cryptocurrency derivatives exchange as early as next month. The new platform is aimed at retail traders and will compete directly with established giants like Binance, sources familiar with the matter revealed, according to a report by Bloomberg . The exchange will operate under a license in the Dominican Republic, where Arkham is reportedly in the final stages of securing regulatory approval. Demand for Crypto Derivatives Continues to Increase The move aligns with the growing demand for cryptocurrency derivatives, a market that has seen rapid expansion in recent months, driven mainly by retail investors. In September alone, crypto derivatives trading volumes soared to over $3 trillion, doubling from $1.5 trillion recorded the previous year, according to data from CCData. The increased interest is due to the expanding variety of crypto derivatives products now available on major exchanges like the Chicago Mercantile Exchange (CME). On September 29, CME launched its Bitcoin Friday Futures (BFF) contracts, which the exchange hailed as its most successful crypto futures debut to date. The BFF contracts, priced at one-50th of a Bitcoin, saw more than 31,000 contracts traded on their first day. Arkham Intelligence’s token $ARKM surged 16% after announcing plans to launch a crypto derivatives exchange next month📈 Looking at the 24h heatmap, we can see that liquidity is mostly spread right below and above current price, especially between $1.6-$1.7. 👉… https://t.co/YlBVKmbDZP pic.twitter.com/qy3RBfswZG — BB Terminal (@BB_Terminal) October 11, 2024 The success mirrors similar offerings like Coinbase’s “nano” Bitcoin futures, which are available in even smaller fractions, at one-100th of a Bitcoin. The derivatives market’s growth also includes contracts tied to popular memecoins like Pepe (PEPE) and Floki Inu (FLOKI), which were listed by Crypto.com’s North American derivatives exchange, Nadex, earlier this month. As Arkham expands into the crypto derivatives space, its native token, ARKM, has surged more than 16% following the Bloomberg report, according to CoinGecko. Known for its blockchain transaction tracking tools, Arkham has previously raised $12 million from prominent investors, including Sam Altman, founder of OpenAI. Arkham Launches Decentralized Intel-to-Earn Marketplace Last year, Arkham unveiled the Arkham Intel Exchange , which it called the world’s first on-chain “intelligence marketplace.” The platform is expected to create a new way for people to share and trade blockchain-related intelligence, creating a new market and opportunity for on-chain researchers. At the time, the company said there is a significant demand for on-chain analysis from various individuals such as traders, investors, journalists, researchers, and protocols. It also noted that a growing community of talented on-chain researchers needs a platform that allows them to monetize their skills. The Intel Exchange tackles these challenges by connecting buyers and sellers of on-chain intelligence through a bounty mechanism. The company wrote in the announcement: “Arkham’s Intel Exchange finally gives these talented researchers a way to monetize their skills, and meets the growing demand for on-chain research in a scalable way – by connecting both sides of the on-chain intelligence economy.” The platform uses a bounty mechanism to do this. Users who need specific on-chain information can request by placing bounties. These bounties will then be fulfilled by “bounty hunters,” experienced blockchain researchers who provide the requested intelligence in exchange for the payment.
Bitcoin short-term holders will be ‘seriously tested’ if BTC loses $61.6K — Analyst
Bitcoin’s ( BTC ) price action has been sideways over the past 36 hours, as BTC has been unable to break away from a range of $63,600 and $62,843. As illustrated in the chart, BTC is currently under the 50-day EMA level but remains above the 200-day EMA on the 4-hour chart. BTC/USDT on the 4-hour chart. Source: Trading View Bollinger Bands (BB) indicate that the current price might be a little oversold, as it remains under the indicator's simple moving average (middle band line). However, the BB lines are currently in divergence, which indicates that the price action should experience short-term volatility. Related: BTC short-term holders 'likely taking on more risk' as realized cap spikes by $6B Bitcoin under $61,600 may test STH’s resolve, says Analyst Bitcoin investors can be classified into short-term holders (STH) and long-term holders (LTH), and each group can play an important role. Long-term holders are associated with BTC addresses that have held Bitcoin for 155 days or more, while short-term holders are traders holding less than the aforementioned time span. Recently, Cointelegraph reported that short-term holders were ‘likely taking on more risk’ at the moment, with the BTC STH realized price witnessing a sharp increase. This also coincided with long-term holders ‘likely’ taking profits during the end of September. This means the immediate price action could be more dependent on short-term holders at the moment. In light of that, Burak Kesmeci, a Verified Analyst on CryptoQuant, highlights that the STHs may panic sell if BTC drops below $61,600. Bitcoin short-term holders’ average cost. Source: CryptoQuant Kesmeci explains the current average cost of short-term Bitcoin holders for 1-3 months and 3-6 months was $61,633 and $64,459, respectively. As observed in the chart, the price is currently squeezing between this particular range and awaiting a directional break. The analyst claims that bulls will potentially gain market strength if $64,500 is topped. However, Kesmeci adds, “On the flip side, if the average cost of the 1-3 month holders at 61.6K is lost, the patience of Bitcoin investors will be seriously tested.” Dropping under $61,600 may lead to short-term holders facilitating ‘panic-sell’ at a loss. Data from CryptoQuant indicates that the STHs are barely making a profit. The STH Net-Unrealized Profit/Loss by Cohort (STH-NUPL) chart is just above 0, which means that the majority of short-term holders are not in profit right now. Bitcoin short-term holders net-unrealized profit/loss by cohorts. Source: CryptoQuant Related: Bitcoin Coinbase premium turns negative as BTC price stalls under $63K Bitcoin in Q4 is majorly profitable in a bullish cycle While STHs can be compelled to sell in a choppy Bitcoin market, historical probability favours holding BTC through Q4. Timothy Peterson, a Bitcoin proponent, recently underlined that Bitcoin is having the worst start to October in 10 years. However, Peterson also points out that Bitcoin’s Q4 performance is ‘typically positive by a significant magnitude’. Bitcoin Q4 returns since 2015. Source: Twitter Since 2015, Bitcoin has demonstrated negative returns in Q4 for only 2018, 2019 and 2022, which were outright bear markets. Considering the overall market in 2024 is long-term bullish, Peterson adds , “I would expect a gain of about 30-60% this quarter. I'd say there's a 40% chance of $100k by the end of the year.” Therefore, short-term holders may continue to hold even if BTC briefly drops below $61,600 over the next few weeks.
An article reviewing the Bitcoin ecosystem Pump.fun
Original author: shaofaye 123, Foresight news What is the investment with the highest return rate in 2024? Without a doubt, it is Memecoin. From Bases Degen to Solanas Bome, tens of millions of times myths have been born one after another on Memecoin. The dispute between uppercase and lowercase Neiro, the zoo craze caused by hippos, Memecoin seems to never lack hype angles, constantly bringing new wealth effects, attracting various chains to join in. Sunpump pulled up TRXs previous high, Vista led ETH Gas to recover, and Memecoin accounted for as many as 15 of the only 42 projects that outperformed BTC this year. Nowadays, the Pump.fun imitations of various chains are in full bloom. As the real gold of cryptocurrency, what kind of sparks will the combination of Bitcoin ecology and Pump.fun bring? This article will take you through the Pump.fun in the Bitcoin ecosystem. BounceBit BounceBit Club BounceBit is a BTC native re-staking chain that mainly provides a base layer for different re-staking products. BounceBit Club is an ecosystem on the BounceBit Chain. It integrates elements such as trading, AI, GameFi, and DeFi Farm. It also provides the creation and issuance of Memecoin. Compared with other issuance platforms, the Memecoin issuance platform on BounceBit Club is more systematic and concise. At the same time, BounceClub also announced that it will join the existing Memecoin community to promote the development of BounceBits native Memecoin. Its launch phase adopts a Bonding curve similar to Pump.fun. After the market value reaches 72,000 BBs, it will add a pool and destroy all LP pools. Fractal Bitcoin Satspump.fun Satspump.fun is a Memecoin issuance platform on the Bitcoin extension network Fractal Bitcoin. Currently, the platform has reached cooperation with Bitcoin ecological chain game infrastructure UniWorlds, Nodino BTC and other platforms. The official announced a BRC-20 airdrop on August 9. Anyone who holds $300 worth of whitelisted BRC-20 tokens (ORDI, SATS, PIZZA, SHNT, WZRD, HONK, RATS) or 3 bitmaps in their wallet is eligible for this airdrop. Satspump.fun claims to use CAT_20 technology, and will migrate liquidity to DotSwap V3 AMM Swap for trading after the token market value reaches the joint curve target. Lightning Network Lnpump.fun In October 2023, Lightning Labs released the Taproot Assets protocol. Taproot Assets supports the issuance of stablecoins and other assets on Bitcoin and the Lightning Network. Such assets are based on the programmable nature of Bitcoin Script to control issuance, are completely decentralized, and are ultimately implemented through the Lightning Network. Lnpump.meme is a Meme issuance platform on the Lightning Network. Compared to pump.fun, Lnpump distributes tokens by fairly launching and casting at the same price to avoid inner pool PVP. After the launch, all casting fees enter the pot, and the minted tokens are repurchased by an increasing price auction. When the pot price is equal to the auction price, the auction ends and public trading begins. (The project is in an extremely early stage and there is always a risk of RUG.) Botanix Bitzy.app Botanix is a decentralized 2-layer EVM on Bitcoin, combining the security and decentralization of Bitcoin with the ease of use and versatility of EVM. It is now available on the testnet. The Meme distribution platform of this ecosystem is Bitzy.app, which claims to create tokens with two clicks and zero code and has certain airdrop expectations. CORE Cpump.fun After CORE announced its entry into the Bitcoin ecosystem, the main chain token increased by 6 times within a month, and its ecosystem is relatively rich. Cpump.fun is a Meme launch platform based on the CORE chain. Its basic gameplay is similar to Pump.fun. In the initial stage, it trades according to the Bonding curve. Compared with Pump.fun, Cpump.fun can add a pool for liquidity migration when the market value reaches 23K, and will migrate to Archerswap for trading. Stacks Stx.city Stacks is Bitcoin L2, which adopts a pyramid approach, with a basic settlement layer at the bottom, and can add smart contracts and programmability layers. Stx.city is the Meme launch platform of the chain. After the original Bonding curve transaction is completed, the contract will burn 20% of the remaining tokens and pair them with the received STX to add initial liquidity, and all the LPs in the pool will be destroyed. With the dual benefits of destroying tokens and LPs, it is easier to push up the token price in the early stage. Conclusion As crypto users call for fair launches and the community is tired of VC coins, the Meme issuance platform has become the fifth set added after the traditional four-piece set (stablecoin, cross-chain bridge, Swap, lending) of each public chain. Judging from the inscriptions and runes, the Bitcoin ecosystem exists and needs Memecoin, but it does not seem to be necessarily built on Pump.fun. The Bitcoin ecosystem needs its own unique way of issuing Memecoin. Special thanks to: 1783 DAO.eth
Worldcoin (WLD) Price Rallies Despite South Korea Data Fine
Worldcoin launched with a bang. From their eye scanners, links to OpenAI founder, and the WLD airdrop, the resulting FOMO pushed prices to fresh highs by end of last year. This uptick was just the start. WLD Firm After H1 2024 Cool Off By the end of Q1 2024, WLD has more than doubled from December 2023 highs, reaching $11 by March 2024. But just like most coins, WLD fell and is now back to October 2023 levels. Even so, WLD supporters are upbeat and expect the coin to fly even harder in the coming sessions. While there are cracks (price-wise) and regulatory challenges, WLD is firm, up 61% from September 2024 lows. At press time, WLD is trending above August highs, and the upside momentum is building up. The breakout above $2 was with rising trading volume. Currently, bull bars are banding along the upper BB, pointing to high volatility and momentum. There are several factors behind this confidence. EXPLORE: Just Two Years For Caroline Ellison! Is It True Justice? Does Crypto Crime Pay? The Vesting Schedule Change Top of the list is the team’s decision to change their vesting schedule. The announcement was made in July when the team said it would release 5.32 million WLD daily for 729 days, per Token Unlocks . Worldcoin explained that per the original vesting schedule, early contributors were subject to a 3-year lock-up period. However, due to the new changes, the vesting for 80% of these tokens would be extended from 3-to-5 years. The change means tokens will be released more gradually – a net positive for prices. Worldcoin Fined In South Korea Despite these vesting changes, Worldcoin faces resistance, especially from some governments and regulators. In South Korea, the Personal Information Protection Commission (PIPC) charged Worldcoin and Tools For Humanity $830,000. The fine is for collecting and transferring its citizen’s data without following due process. In their finding, the PIPC claims that Worldcoin did not correctly notify users of the purpose of the data they were collecting and transferring outside the country. Most crucially, there was no consent form in Korean to inform the user. The good news is that Worldcoin only has to address these issues and resume operations. MemeBet Raises Over $270,000 In Presale As WLD prints higher and Worldcoin overcomes challenges and benefits from regulatory clarity, eyes are also on meme coins and GambleFi. One of them, MemeBet , is gaining traction by merging meme coins and GambleFi. In the ongoing MemeBet presale, the project has raised over $270,000. The interest in MEMEBET is that the platform would eventually allow users to gamble on various fronts, including sports betting and casino games using popular meme coins like Dogecoin and Shiba Inu. MemeBet also plans to release loot boxes, trading games, and even airdrop MEMEBET to active users. Accordingly, there is high hope that those who buy MEMEBET now can benefit from rapid price gains once the token hits popular DEXes at the end of the presale. EXPLORE: 19 New Cryptocurrencies to Invest in 2024 Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
New Cryptocurrency Releases, Listings, & Presales Today – XBorg, DENTNet, Bitboard
Since the U.S. Federal Reserve decided to cut interest rates, the cryptocurrency market has experienced substantial growth, with no immediate signs of slowing down. As a result, Bitcoin’s value has risen by 7.80% over the past week, reaching the $63,000 mark, significantly bolstering traders’ confidence in the market’s outlook. This shift has set off a ripple effect across various tokens, with the meme coin market being particularly impacted. Notably, Pepe Unchained has received significant attention from market participants. Additionally, many investors are now shifting their attention to new tokens that have the potential to become leading assets. This article reviews the new cryptocurrency releases, listings, and presales today , analyzing key tokens currently gaining traction. New Cryptocurrency Releases, Listings, and Presales Today BB provides real-time rankings for entertainment organizations, enabling them to track trends and grow through collaboration. Meanwhile, XBorg’s player identity protocol empowers gamers to control their data. Additionally, DENTNet manages telecommunications assets, such as mobile data and frequencies, using blockchain technology. 1. Bitboard (BB) Bitboard (BB) coin runs on the Polygon blockchain, focusing on decentralization and AI. The team is building a new network called “Tnet,” with the Testnet currently operational as part of the ongoing development. The project introduces the Bitboard ranking chart, a user-friendly feature that allows fans to vote for their favorite celebrities at their convenience. With its high transaction speeds and quick confirmations, it’s designed for real-world use. By reducing the cost of running blockchain applications, Bitboard aims to make participation more accessible, addressing issues like high fees and scalability that plague traditional blockchains. Moreover, BB plans to offer real-time rankings to online and offline entertainment organizations, fandoms, and media companies. This will allow them to track trends and respond quickly, helping them grow their user base by collaborating with industry players. Users can vote on the platform, register new stars, and access these services through the Star Blockchain app and website. Additionally, the BB Blockchain API allows other platforms to integrate these features. The app also lets users create BB, enter contracts with celebrities, and pay based on the contract’s performance. Bitboard can potentially attract existing cryptocurrency investors and new users interested in entertainment and fandom culture. By combining blockchain technology with a focus on celebrity engagement, Bitboard positions itself as a platform that could reshape global fandoms, providing real-time insights and interactive tools for users. The project offers a new model for merging cryptocurrency with entertainment, though its success will depend on continued development and user adoption. 2. XBorg (XBG) XBorg is developing a player identity protocol to transform the gaming industry. The goal is to allow players to own and use their data to create more personalized online experiences. XBorg’s central feature is the XBorg ID, which collects data from different sources, such as real-time gameplay, APIs, and tournament platforms, to form a unique player identity. Meanwhile, XBorg has partnered with esports teams like Team Liquid, Ninjas in Pyjamas, and Team BDS to build fan platforms powered by player identities. In 2025, XBorg plans to launch its blockchain as a hybrid layer 2 solution. This blockchain will handle data availability, verification, and secure storage of player data, helping to manage its provenance. The platform’s native token, XBG, serves several purposes. https://x.com/XBorgHQ/status/1838250770870775962 It acts as a payment option within XBorg-powered apps, allows token holders to participate in governance decisions, and will be used as the gas token for the upcoming blockchain. XBG stakers will also earn rewards, with a portion of XBorg’s revenue shared based on their contribution to the ecosystem. The token will provide additional benefits, such as better terms on the launchpad and exclusive access to features. Furthermore, season 2 of the XBG Reward Program is now live and is bigger than before. Instead of earning points, users can claim a share of 1,000,000 XBG and monthly airdrops of partner tokens. Holding XBorg and partner NFTs can boost users’ rewards even further. XBorg’s approach aims to reshape how players interact with their data and online gaming experiences. By giving players control over their identities, XBorg hopes to build a more personalized and engaging digital environment for gamers. 3. DENTNet (DENTX) DENTNet is a blockchain network that manages telecommunications assets like mobile data and frequencies. Created by DENT, a mobile data marketplace, it aims to change how mobile data and other telecom resources are traded globally by connecting mobile networks through a decentralized system. The network operates on a Nominated Proof of Stake (NPoS) consensus mechanism, which relies on selected validators to maintain its integrity and make it more energy-efficient than traditional blockchain models. DENTNet also incorporates features specific to the telecom industry, such as operator sponsorship and asset expiry, making it tailored to the needs of service providers. Furthermore, DENTNet offers tools for mobile operators to trade telecommunications assets, handle eSIM processing, and automate accounting. Operators can sell mobile data and voice minutes on the platform using DENT tokens. Sellers must also pay a fee in DENTX to list assets on the platform. The platform has formed partnerships to grow its network and ensure security. Burrito Wallet, a Web 3.0 virtual asset platform, became a validator, helping verify transactions and enhance the network’s security. Another partner, FACTBLOCK, a Web3 ecosystem builder from Korea, joined as a validator to expand DENTNet’s presence in the Asian market. These partnerships strengthen the platform’s reliability and global reach. DENTNet aims to provide a new way for telecom operators to manage and trade their assets using blockchain technology. Through its consensus model and tailored features, it seeks to offer a more efficient and secure solution for the telecommunications industry. 4. Pepe Unchained (PEPU) Pepe Unchained is designed to build on the momentum of its predecessor, Pepe. The primary feature that sets it apart is its native blockchain, known as the “Pepe Chain.” This blockchain operates as a Layer-2 solution, offering improvements in both scalability and cost-efficiency when compared to Ethereum. The Layer-2 structure enables the network to process transactions more efficiently, addressing some issues in older networks. One of the main problems addressed by Pepe Unchained is the high transaction fees that weighed down its predecessor. Furthermore, the project has gained traction through coverage on major cryptocurrency platforms. It operates under a clear 3-step roadmap, with developers committing to regular updates on social media to keep the community informed. The goal is to build a large, engaged community of investors over time rather than achieving rapid, short-term growth. Strategically, Pepe Unchained leverages the Ethereum network but has long-term plans to develop its own blockchain. This could expand its ecosystem, enabling support for additional tokens or meme coins. By focusing on faster transactions and lower gas fees, the project aims to increase its appeal to investors and users alike. The project’s ongoing presale has also attracted attention, with over $14.9 million raised to date. Significant investments from large holders, known as “whales, ” have amplified this success, contributing substantial capital. At press time, investors can purchase PEPU tokens for $0.00984, though the price is expected to increase soon. With just one day remaining before the next adjustment, this limited window creates a sense of urgency for potential buyers. Visit Pepe Unchained Presale Read More New Coin Listings
Cycle Trading: Changes in asset prices after interest rate cuts
Original title: "Cycle Trading: Changes in asset prices after the rate cut" Original source: Cycle Trading 1. Restarting the easing cycle after four years At 2:00 am on September 19th, Beijing time, the Federal Reserve announced a 50 basis point interest rate cut, and the target range of the federal funds rate was reduced from 5.25%-5.50% to 4.75%-5.0%, and a new round of interest rate cuts officially began. This 50bp interest rate cut is in line with the expectations of CME interest rate futures, but it exceeds the forecasts of many Wall Street investment banks. Historically, the first 50bp interest rate cut has only occurred in economic or market emergencies, such as the technology bubble in January 2001, the financial crisis in September 2007, and the COVID-19 pandemic in March 2020. Since a 50bp rate cut will make the market more worried about an economic "recession", Powell emphasized in his speech that he did not see any signs of recession, and as always, he used this method to hedge the market's recession concerns. The Fed also gave a more hawkish dot plot, predicting two more rate cuts totaling 50bp this year, four rate cuts totaling 100bp in 2025, and two rate cuts totaling 50bp in 2026, with an overall rate cut of 250bp and an interest rate end point of 2.75-3%. The dot plot shows a relatively slow pace of rate cuts, and the path is slower than the CME interest rate futures trading of 2.75-3% in September 2025. At the same time, Powell emphasized that this round of 50bp rate cuts cannot be used as a new benchmark and linearly extrapolated. There is no fixed interest rate path set. It can be accelerated, slowed down, or even suspended. It will depend on the situation of each meeting, which explains the surge in US bond interest rates after the close to a certain extent. In terms of economic forecasts, the Fed lowered its GDP growth forecast for this year from 2.1% to 2.0%, and significantly raised its unemployment rate forecast from 4.0% to 4.4%. And it lowered its PCE inflation forecast from 2.6 to 2.3%. The Fed's data and statements show that it has increased its confidence in curbing inflation, while paying more attention to employment. Overall, the Fed has played a big role in expectation management with a relatively large first rate cut and a relatively hawkish rate cut rhythm. II. Interest rate cut cycles since the 1990s June 1989 to September 1992 (recessionary rate cuts) In the late 1980s, the rapid rise in US interest rates caused savings and loan banks to face the dilemma of short-term deposit rates being higher than long-term fixed loan rates, and the US Treasury yields were inverted. The "savings and loan crisis" broke out in the US financial industry, and a large number of banks and savings institutions went bankrupt. Combined with the external impact of the Gulf War, from August 1990 to March 1991, the US economy fell into a recession defined by the National Bureau of Economic Research (NBER), which lasted for 8 months. In June 1989, the Federal Reserve started a more than three-year interest rate cut cycle, with a cumulative interest rate cut of 681.25BP, and the upper limit of the policy interest rate dropped from 9.8125% to 3%. July 1995 to January 1996 (preventive rate cut) In 1995, the US economic growth slowed down and employment was sluggish. The Fed believed that although the economy had not yet entered a recession, the decline in some economic indicators might indicate the risk of a future economic downturn, and decided to start cutting interest rates to stimulate the economy and prevent recession. This rate cut began in July 1995, lasting 7 months, with three cumulative rate cuts, a total of 75BP, and the upper limit of the policy interest rate dropped from 6% to 5.25%. After that, the US economy achieved a "soft landing", and the employment and manufacturing PMI indicators that were weak before the rate cut rebounded. This round of interest rate cycle is also regarded as a typical case of "soft landing". On the other hand, the Fed's operation successfully avoided the "take-off" of inflation. During the rate cut, the PCE inflation rate hardly exceeded 2.3%, remaining relatively stable. September to November 1998 (preventive rate cuts) In the second half of 1997, the "Asian Financial Crisis" broke out. The economic recession in Asia led to weakened external demand, which affected the US commodity trade. The US economy remained stable overall, but the external environment was turbulent. The weakness of commodity trade put pressure on the US manufacturing industry and the US stock market adjusted. From July to August 1998, the SP 500 index adjusted for nearly two months, with the deepest drop of nearly 20%. The giant hedge fund Long-Term Capital Management (LTCM) was on the verge of bankruptcy. In order to prevent the impact of the crisis from further affecting the US economy, the Federal Reserve began to cut interest rates in September 1998. By November, it had cut interest rates three times, with a total of 75BP, and the upper limit of the policy interest rate was reduced from 5.5% to 4.75%. January 2001 to June 2003 (Recessionary Rate Cuts) In the late 1990s, the rapid development and popularization of Internet technology triggered excessive speculation, and the frenzy of irrational prosperity led to a large amount of funds flowing into Internet investment. From October 1999 to March 2000, the Nasdaq index rose as high as 88% in five months. From June 1999 to May 2000, the Federal Reserve raised interest rates 6 times, a total of 275BP, to cope with the overheating of the economy. In March 2000, the Nasdaq index fell rapidly after reaching its peak, the Internet bubble gradually burst, a large number of Internet companies went bankrupt, and the economy fell into recession. On January 3, 2001, the Federal Reserve announced a 50BP interest rate cut, and then cut interest rates 13 times, a total of 550BP, and the upper limit of the policy interest rate dropped from 6.5% to 1.0%. September 2007 to December 2008 (Recession-style rate cuts) In 2007, the US subprime mortgage crisis broke out and further spread to other markets such as bonds and stocks, and the US economic situation took a sharp turn. On September 18, the Federal Reserve lowered the federal funds target rate by 50BP to 4.75%, and then cut interest rates 10 times in succession. By the end of 2008, the interest rate had dropped by 550BP to 0.25%. The rate cut was still not enough to cope with the severe economic situation. The Federal Reserve introduced quantitative easing (QE) for the first time, using unconventional monetary policy tools such as large-scale purchases of US Treasury bonds and mortgage-backed securities to lower long-term interest rates, stimulate the economy and inject liquidity into the market. August to October 2019 (preventive rate cut) In 2019, the US economy and job market were generally stable, but under the influence of factors such as geopolitical conflicts and Sino-US trade frictions, US external demand weakened, while domestic demand also showed a slowing trend, and the inflation rate was below 2%. In the first half of 2019, the PCE inflation rate remained at 1.4-1.6%, and the core PCE inflation rate dropped from 1.9% at the beginning of the year to 1.6% in March-May. On July 31, 2019, the Federal Reserve announced a 25BP interest rate cut to 2.25%, saying that the US economy grew moderately and the job market was stable, but the overall and core inflation rates were both below 2%, aiming to prevent economic slowdown, especially considering the background of tense trade situation and slowing global growth. Before the global outbreak in 2020, the U.S. economy was operating stably as a whole, with indicators such as manufacturing PMI and core PCE rebounding. From August to October 2019, the Federal Reserve cut interest rates three times in a row, a total of 75BP, and the upper limit of the policy interest rate dropped from 2.5% to 1.75%. March 2020 (Recessionary Rate Cut) In 2020, the COVID-19 pandemic spread across the globe. In March 2020, the Federal Open Market Committee made two sharp rate cuts at an unscheduled emergency meeting, restoring the federal funds target rate range to 0 to 0.25%. III. Asset Prices in Rate Cut Cycles The change in asset prices after the rate cut has a great relationship with whether the macroeconomic environment at that time is in recession. It is believed that the current US economic data does not support the conclusion of recession. Under the premise of a soft landing of the US economy, more attention should be paid to the asset price trend in the period of 19 to 20 years, which is closer to the present time, during the preventive rate cuts. U.S. Treasuries Before and after the rate cut, U.S. Treasuries were on an overall upward trend. The rise before the rate cut was more certain and larger. The average frequency of increase in the 1, 3, and 6 months before the rate cut was 100%, and it decreased after the rate cut. At the same time, the average increase in the 1, 3, and 6 months before the rate cut was 13.7%, 22%, and 20.2%, and 12.2%, 7.1%, and 4.6% after the rate cut. It can be clearly seen that the market priced in in advance. The volatility intensified about a month before and after the rate cut. In the later period of the rate cut, due to different economic recovery situations, the interest rate trends in different periods diverged. Gold Similar to U.S. Treasuries, overall, the probability and magnitude of gold's rise before the rate cut are greater. Benefiting from the risk aversion demand in critical situations, the correlation between the trend of gold and whether there is a "soft landing" is relatively unclear. From a trading perspective, the optimal trading time for assets on the denominator side is before the interest rate cut. Due to the full inclusion of expectations and the limited interest rate cut, after the interest rate cut is realized, more attention can be paid to the assets on the numerator side that benefit from the interest rate cut. Based on the gold ETF dividing line, the correlation between gold prices and interest rate cuts was not clear before the 21st century. In 2004, the US SEC approved the first globally traded gold ETF. The rise of gold ETFs promoted a surge in demand for gold investment, attracted a large number of retail investors and institutional investors, and the continuous inflow of funds provided a strong impetus for the rise in gold prices. Until it peaked in 2011, this round of rising cycle lasted for 7 years. During this period, the Federal Reserve experienced a sharp interest rate hike from 2004 to 2006 and a sharp interest rate cut from 2007 to 2008. Gold maintained an overall upward trend. Excluding the impact of gold ETFs, the only meaningful interest rate cut cycle that can be used as a reference is 2019. In the short term, during the interest rate cut cycle from August to October 2019, gold rose sharply after the first interest rate cut, and then fluctuated and fell back in the next two months. In the long term, gold still showed an upward trend after the interest rate cut. Federal Reserve Interest Rate Cycle and Gold Price Nasdaq The performance of the Nasdaq in a recessionary interest rate cut depends on the fundamental repair. In a recessionary interest rate cut cycle, the Nasdaq as a whole mostly shows a decline, except for a 28% increase in the ultra-long interest rate cut cycle in 1989, and a decline of 38.8%, 40% and 20.5% in the interest rate cut cycles in 2001, 2007 and 2020 respectively. The short-term performance of the Fed's first preventive interest rate cut in different years varies, but in the long run, it has all risen. Intuitively understood preventive interest rate cuts can often have a positive effect on the economy, reverse signs of weakness, and drive the stock market up. Therefore, the key to judging the trend of the Nasdaq index lies in the grasp of the recession. In the interest rate cuts in 2019, the Nasdaq fell back after the first and second rate cuts, and showed an overall oscillating trend within three months of the rate cuts, and started to rise around the third rate cut. BTC In the interest rate cut cycle in 2019, BTC prices rose briefly after the first rate cut, and then opened a downward channel as a whole. The overall retracement from the top lasted 175 days, and the retracement was about 50% (excluding the impact of the subsequent epidemic). What is different from the previous rate cut cycle is that due to the swing in the expectations of rate cuts, BTC's retracement this year came earlier. After the high point in March this year, BTC has been oscillating and retracement for a total of 189 days, with a maximum retracement of about 33%. From the historical experience, the long-term bullish market outlook is likely to fluctuate or pullback in the short term, but the intensity and duration of the pullback will be smaller and shorter than in 2019. Original link
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