Missed PEPE and PopCat? Piggy Bankster may be the next big thing

• Meme coins have outperformed mainstream cryptocurrencies this year.

• These tokens have attracted substantial hype from investors and traders.

• Piggy Bankster aims to be the next big name in the meme coin industry.

Meme coins have done well this year, outperforming popular cryptocurrencies like Bitcoin, Ethereum, and Cardano. Pepe,  launched in 2023, has soared to a record high, giving it a market cap of over $6 billion. 

Why meme coins soared

Other meme tokens like dogwifhat (WIF), Bonk, Book of Meme (BOME), and Dog Go to The Moon (DOG) have also done well this year. WIF’s market cap has soared to over $3.3 billion while Bonk, BOME, and DOG are valued at over $2 billion. 

Altogether, all meme coins tracked by CoinMarketCap have a market cap of over $63 billion. This makes them bigger than many well-known companies like FedEx, Spotify, Workday, and Monster Beverage among others.

There are several reasons why meme coins have done well this year. First, their performance was driven by key news in the crypto industry. The Securities and Exchange Commission (SEC) approved Bitcoin ETFs in January. Since then, these ETFs hold over $60 billion worth of assets, helped by strong institutional demand.

Second, the agency has recently approved Ethereum ETFs and analysts expect that they will attract billions of dollars in assets when they start trading. This approval means that the SEC could approve other ETFs like Solana, Cardano, and Ripple. 

Third, they rose because of April’s Bitcoin halving, which reduces the number of Bitcoin rewards offered to miners. In most cases, Bitcoin tends to rally ahead and after halving.

Finally, there is hope that the Federal Reserve will start cutting interest rates later this year if inflation continues dropping. Cryptocurrencies and other risk assets do well when the Fed turns dovish. 

Meme coins do better than other cryptocurrencies because of their lower notional value, increased whale activity, and their potential for huge gains.

Piggy Bankster could be the next big thing

Analysts believe that more meme coins will be launched in the coming months as developers seek to benefit from this demand. 

One of the most anticipated meme coins will be Piggy Bankster, whose presale will start on June 4th of this year. 

$PIG will be launched on the Solana network, which has become popular among developers because of its top speeds and low transaction costs. Some of the top Solana meme tokens are Bonk, Book of Meme, and Cat in a Dogs World. 

Piggy Bankster also aims to disrupt the world of animal-themed tokens. This is an industry that started with dogs (Shiba Inu and Dogecoin), cats (Popcat), frogs (Pepe), and chickens (Coq Inu). 

History shows that most animal-themed token pioneers tend to do well as they attract traders’ attention. Therefore, there is a likelihood that the Piggy Bankster token will do well in its token sale and when it starts trading.

Piggy Bankster will have a total supply of 100 million and an initial liquidity of 12,000. The starting price of its presale will be $0.00012. You can learn more about the token on the Piggy Bankster website and follow the updates on X.

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New meme coin Piggy Bankster (PIGS) coming to Solana amidst the memecoin frenzy

• The Solana meme coin frenzy welcomes Piggy Bankster (PIGS), a pig-themed token.
• Piggy Bankster’s presale starts June 4th with 100M $PIGS tokens.
• Solana’s ecosystem witnesses surge in activity amid increased meme coins activity.

Lately meme coins, most of which have launched on Solana blockchain, have emerged as powerful drivers of market activity and community engagement.

Leading the Solana-based meme coins frenzy are notable coins like Dogwifhat (WIF) and Bonk (BONK), which have captured the imaginations of investors and enthusiasts alike with staggering price increments.

Joining this dynamic landscape is Piggy Bankster (PIGS), a new meme coin entrant poised to leverage the success of other Solana-based coins. PIGS’ presale is scheduled to launch on June 4th, 2024.

Piggy Bankster (PIGS): the new Solana meme coin

Piggy Bankster brings a unique and intriguing narrative to the meme coin space that has been crowed by dog and frog-themed coins.

The pig gangster-themed coin is represented by a charismatic pig nicknamed Piggy Bankster who has clawed his way from the slums of Swine City to the pinnacle of the criminal underworld.

Piggy Bankster, always donning a pin-striped suit, is known for his ruthlessness, loyalty, and a fierce drive for power. His story is one of resilience and dominance, fitting perfectly into the meme coin culture that thrives on strong characters and engaging backstories.

The launch of Piggy Bankster is set against the backdrop of a booming meme coin market on the Solana blockchain.

Notably, the recent surge in popularity of Solana-based meme coins has driven substantial excitement and user activity on Solana, leading to increased network usage and a corresponding rise in the value of SOL, Solana’s native token.

Data from Dune Analytics highlights a rise in deployed transactions and revenue within the Solana ecosystem, correlating with the meme coin craze. Additionally, data on DeFi Llama shows a substantial increase in Solana’s Total Value Locked (TVL) throughout 2024, reflecting the platform’s expanding ecosystem and growing adoption.

However, this surge in activity is not just limited to meme coins. The broader Solana ecosystem has seen an influx of new projects, further enhancing the platform’s appeal. The recent integration of Solana into the multichain portfolio tracker Pulsar Finance simplifies asset management for users and underscores Solana’s growing importance in the Web3 landscape.

Piggy Bankster launch details and tokenomics

The Piggy Bankster ($PIG) presale launch is designed as a fair launch on the Solana network, ensuring that all participants have an equal opportunity to acquire the token from the outset.

The total supply of Piggy Bankster tokens is set at 100,000,000 $PIGS, with 100% of this supply being allocated to the liquidity pool. The initial liquidity is pegged at $12,000, establishing a starting price of $0.00012 per single PIGS token.

This strategic approach to the presale and liquidity provision aims to promote transparency and community involvement, key principles that resonate strongly within the cryptocurrency community.

Piggy Bankster’s persona is brought to life through memorable quotes that capture his ethos and appeal to the meme coin community. Statements like, “All I have in this world is my word and my snout. And I don’t break ‘em for nobody,” and “When you mess with the best, you get turned into bacon,” reflect the character’s tough and unapologetic nature.

For more information, you can visit the Piggy Bankster website, or follow the project on Twitter, or join the Telegram group for the latest updates.

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JasmyCoin price prediction: could Bitbot outdo JASMY?

• JasmyCoin (JASMY) has seen an impressive price rise driven by AI program launch, token lockup, and Apple speculation.
• Analysts predict JasmyCoin price is posed for further gains and could hit $0.05 very soon.
• Bitbot, an AI trading bot, is nearing end of its token presale with palpable anticipation for exchange listing.

JasmyCoin (JASMY) has recently captured the attention of investors with its meteoric rise in price. Surging by over 25% within the last 24 hours, by over 79% in the past month, and by over 577% in the past year, JASMY has demonstrated resilience and growth amidst the global crypto market’s recent crash.

However, as JasmyCoin rises, another cryptocurrency Bitbot (BITBOT) is also capturing the attention of investors as its presale comes to an end with exchange listing now in focus.

JasmyCoin price prediction

JasmyCoin’s recent price surge can be attributed to several key developments.

To start with the launch of the JANCTION AI program has attracted significant interest, positioning JasmyCoin as a pivotal player in the intersection of blockchain and artificial intelligence.

Additionally, the lockup of 100 million JasmyCoins has created buying pressure, reducing the circulating supply and boosting the price.

Analysts predict further price appreciation for JasmyCoin (JASMY), with expectations of potential breakout levels towards $0.05 and subsequently $0.10.

The recent surge in trading volume and market cap indicates growing investor confidence in JASMY’s future prospects.

Furthermore, speculation about a potential partnership with Apple regarding Japan’s “My Number” ID integration into iPhones is fueling excitement in the market as the general positive market dynamics, including rallies in Bitcoin (BTC) and Ethereum (ETH) prices adding to the bullish market sentiment for JASMY.

Bitbot: could it outperform JASMY once it gets listed?

Amid Jasmy’s spectacular rise, Bitbot, the world’s first AI Telegram Trading Bot, has emerged as another promising player in the crypto space.

Leveraging market data to provide actionable insights for trading decisions, Bitbot has garnered attention for its innovative approach to cryptocurrency trading.

In addition, the BITBOT token presale, which is quickly selling out and nearing its end, has also generated significant interest among investors.

The presale is in its last presale stage and it is quickly selling out as investors rush to get a stake of the Telegram bot token before the presale ends. Notably, the current presale price of BITBOT stands at $0.02 having risen significantly throughout the previous presale stages.

The presale has seen remarkable success, with enthusiastic participation from investors keen to secure their stake in this groundbreaking project. So far, the total amount raised has soared to an impressive $4,110,551, out of the target $4,324,000.

This overwhelming response underscores the confidence investors have in Bitbot’s vision and potential.

Looking ahead, the Bitbot roadmap outlines plans for further development, including the launch of the Bitbot native mobile app, cross-chain support, enhanced community features, and enhanced liquidity.

With the presale drawing to a close, anticipation mounts about the future trajectory of the BITBOT token, especially once it gets listed on bot centralized and decentralized trading platforms.

As investors weigh their options, the performance of Bitbot in comparison to JASMY remains an intriguing prospect.

With its advanced trading capabilities and strong community support, Bitbot has the potential to disrupt the cryptocurrency trading landscape and potentially outshine JasmyCoin in the future.

Conclusion

Both JasmyCoin and Bitbot represent exciting opportunities in the cryptocurrency market.

JasmyCoin’s recent price surge underscores its potential for further growth, driven by key developments and positive market dynamics.

On the other hand, Bitbot’s innovative approach to trading and upcoming roadmap milestones position it as a contender for outperforming JASMY in the long run.

Nevertheless, as investors navigate the dynamic crypto landscape, careful evaluation of the market is important for making informed investment decisions.

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Bitget Pioneers Meme Revolution at MEMECON 2024: ‘The Mona Lisa Was a Meme’ says COO

Victoria, Seychelles, May 31st, 2024, Chainwire

Bitget, a leading crypto exchange and Web3 company, has participated in MEMECON, one of the five premier events at NFC 2024. MEMECON took place at Pavilhão Carlos Lopes in Lisbon on May 28-30. This event specifically focused on meme coins and meme NFTs, bringing together enthusiasts and experts for a comprehensive experience that includes a conference, expo, stage presentations, and a hackathon.

As the world’s first meme-themed conference, MEMECON Lisbon has drawn over 5,000 participants. The event featured keynotes, panel discussions, and interactive exhibits on the topic. The conference also attracted support from other influential projects and personalities like Crypto Banter, Mario Nawfal, HarryPotterObamaSonic10Inu, BURRRD, GMEonSol and many more.

Bitget’s participation in MEMECON 2024 marks a significant milestone for both the company and the broader cryptocurrency industry. As meme coins continue to transition from internet humor to influential financial assets, their market impact is undeniable. For instance, Dogecoin’s market capitalization skyrocketed to over $88 billion during the 2021 bull run, illustrating the immense financial potential and reach of meme coins.

Engaging with the meme coin community at MEMECON underscores Bitget’s commitment to fostering innovation and supporting creative development within the crypto ecosystem. Meme coins, despite their whimsical origins, have become an entry point for many new investors into the crypto space, promoting broader adoption and diversity in the types of projects being developed. Bitget’s involvement in the hackathon and trading competitions at MEMECON not only encourages technical and creative advancements but also aligns with the company’s vision of enabling smarter trading and nurturing the next generation of crypto innovators.

Bitget’s Chief Operating Officer, Vugar Usi Zade, was a key speaker at the conference, sharing his extensive experience in managing and scaling successful projects. Vugar is an award-winning senior manager and communications expert with 15 years of progressive hands-on experience, spanning Fortune 500 giants to dynamic startups. His talk “2069: Catch the next meme!” focused on the evolving landscape of cryptocurrency exchanges and how to capture the next potential meme coin.

“We have observed more chains and protocols launching memes, showing a strong prospect for cultural building and user onboarding. The Mona Lisa can also be considered a meme of the old days! Bitget has always been supportive of the community and strives to bring the latest tokens with potential to our platform in a safe and timely manner,” shared Vugar Usi Zade, COO of Bitget, during the panel.

Bitget was one of the lead sponsors of the hackathon, encouraging developers and innovators to create new solutions and projects within the meme coin space. The hackathon participants had an opportunity to compete for prizes and gain recognition for their innovative ideas. Bitget also hosted a trading competition where participants could win a trip to Lisbon and compete for the chance to have their meme coin projects listed on the Bitget exchange.

In addition to the activities on-site, Bitget also co-hosted an afterparty on May 29, together with FOMO Bull Club, BGW, b0rder1ess, and Memecon Degens. The cocktail party provided an opportunity for attendees to network and celebrate the success of MEMECON Lisbon.

By supporting and engaging with the meme coin community, Bitget is helping to shape a more robust and secure market for these unique digital assets, driving long-term growth and stability within the cryptocurrency landscape. This active support can lead to the development of more sustainable and innovative meme coin projects, enhancing their appeal and credibility in the financial markets.

Event highlights

About Bitget

Established in 2018, Bitget is the world’s leading cryptocurrency exchange and web3 company. Serving over 25 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, users can visit:

• Website
• Twitter
• Telegram
• LinkedIn
• Discord
• Bitget Wallet

 

Contact

PR team
media@bitget.com

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CARV brings on Animoca Brands as strategic investor and node operator

SANTA CLARA, California, May 31st, 2024, Chainwire

CARV, the largest modular data layer for gaming and AI, announced today a strategic investment from Animoca Brands, the company advancing digital property rights for gaming and the open metaverse. In addition, Animoca Brands will become an operator of CARV’s Tier 6 verifier nodes in support of CARV’s decentralization of its data layer. The partnership will facilitate deeper integration and long-term synergies as they expand their respective gaming and open metaverse ecosystems.

Founded as a gaming credential platform, CARV has evolved into a modular data layer protocol with strong traction from over 2.7 million users, 790 integrated games, and partnerships across major chains like Linea, BNB Chain, zkSync, and Ronin. The company has come good on its gaming credential roots by initiating ERC-7231, the standard approved by the Ethereum Community that binds multiple Web2 and Web3 identities to a single NFT, and partnering with the likes of Google Cloud and Netmarble’s web3 arm, MARBLEX.

To support rapid scaling and growth, CARV is introducing community-operated verifier nodes that scrutinize outcomes at each protocol layer. These nodes are crucial for maintaining decentralization, security, and equitable value redistribution as the network expands. CARV aims to accelerate user onboarding and adoption to grow the pie for all stakeholders in its user-owned data ecosystem through partnering with Animoca Brands as a strategic node operator, relying on their experience and expertise in operating various blockchain infrastructures. Node holders will have the option for one-click delegating to Animoca Brands for node operations, ensuring network uptime and robustness.

The rewards from node operations will initially be in the form of $veCARV, the staked version of CARV tokens. This also allows Animoca Brands and its portfolio of more than 400 gaming and metaverse companies to participate in CARV’s Infinite Play, a token-lock voting bribery system (CURVE & CONVEX model for gaming) for governance voting.

Yat Siu, co-founder and executive chairman of Animoca Brands, commented: “CARV’s mission to advance data self-sovereignty and the interoperability of personal assets in both Web2 and Web3 fits perfectly with the work we do at Animoca Brands. This strategic partnership with CARV will amplify our efforts to pioneer a more equitable framework via new asset classes, economies, and digital property rights.”

“This is a multi-faceted alliance between two leaders in their respective domains,” said Victor Yu, co-founder of CARV. “Through Animoca Brands’ strategic investment, its support as a node operator, and collaboration across our gaming ecosystems, we are taking a comprehensive approach over many years to come. By leveraging our modular data layer with Animoca Brands’ far-reaching ecosystem, we aim to unlock new frontiers in user-owned data economies.”

For more about CARV’s highly anticipated node sale, set to begin on June 3, 2024 for whitelisted participants and June 5, 2024 for the public, users can visit https://node.carv.io.

About CARV

CARV is the largest modular data layer for gaming, AI, and ∞, pioneering a future where data generates value for all. As the sole author of ERC7231, CARV has built CARV Protocol, the modular data layer which has integrated with 40+ blockchains, Google Cloud, and other identity, storage, infra and AI providers. CARV’s flagship gaming superapp, CARV Play, is integrated with more than 790 web2 & 3 games and serving 2.7M+ gamers. CARV is backed by top-tier funds and ecosystems such as Temasek’s Vertex Ventures, ConsenSys (developer of Metamask), Tribe Capital, IOSG Ventures, Animoca Brands, HashKey Capital, Infinity Ventures Crypto, MARBELX, and more. For more information, users can visit carv.io.

About Animoca Brands

Animoca Brands (ACN: 122 921 813), a Deloitte Tech Fast winner, a Fortune Crypto 40 company, and one of the Financial Times’ High Growth Companies Asia-Pacific 2023, is a Web3 leader that leverages blockchain to deliver digital property rights to consumers around the world to help to establish the open metaverse. The company develops and publishes a broad portfolio of products including original games such as The Sandbox, PHANTOM GALAXIES™, Life Beyond, and Crazy Defense Heroes, and products utilizing popular intellectual properties from the worlds of sports and entertainment, such as The Walking Dead, Power Rangers, MotoGP™, and Formula E. It has multiple subsidiaries, including The Sandbox, Blowfish Studios, Quidd, GAMEE, nWay, Pixowl, Forj, Lympo, Animoca Brands Japan, Grease Monkey Games, Eden Games, Darewise Entertainment, Notre Game, TinyTap, SPORTPASS, PIXELYNX, WePlay Media, Gryfyn, and Azarus. Animoca Brands is one of the most active investors in Web3, with a portfolio of over 400 Web3 investments, both directly and through Animoca Ventures, including Yuga Labs, Axie Infinity, Polygon, Consensys, Magic Eden, Fireblocks, OpenSea, Dapper Labs, Yield Guild Games, and many more. For more information users can visit www.animocabrands.com or follow on X (Twitter), YouTube, Instagram, LinkedIn, Facebook, and TikTok.

 

Contact

Co-Founder & COO
Victor Yu
CARV
media@carv.io

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MAGA Hat, Super Trump soar as politics-related memecoins heat up

• MAGA Hat token has jumped more than 500% in the past 24 hours.
• Super Trump reached  new all-time high on May 29 and is up 200% at the time of writing.
• Meme coins are not directly linked to former US President Donald Trump, but his bid is inspiring new frenzy.

Meme coins fervour continues with politics-related and celebrity tokens at the centre of the latest FOMO. 

While tokens Dogecoin, Shiba Inu and Pepe remain top meme coins, there’s a rising tide in the politics arena with former US President Donald Trump-inspired tokens leading gains in the sector.

The biggest movers are MAGA (TRUMP), MAGA Hat (MAGA) and Super Trump (STRUMP).

US election and former President Donald Trump inspires meme coin frenzy

MAGA (TRUMP) epitomises the rise of PolitiFi meme coins.

According to data from CoinGecko, TRUMP, which traded around $0.01136 in October last year, has jumped a staggering 112500% to current price levels of $12.84.

In the past week, news that a wallet of the former US President Donald Trump directly holds millions of dollars’ worth of the token pushed TRUMP higher.

Trump’s campaign also announced it was accepting crypto donations, including in Bitcoin, Ethereum and Dogecoin. During remarks made at a campaign event, Trump said he would free Ross Ulbricht on day one of presidency.

This comes as Trump looks to capture the huge crypto holder vote block, which data shows is largely leaning towards his crypto-friendly outlook.

MAGA Hat and Super Trump are soaring

Although tokens such as TRUMP, MAGA and STRUMP have no direct association with Donald Trump, the communities around these projects are overwhelmingly in support of his election bid.

The effort to have crypto count in the upcoming election adds to this growing trend – and meme coins tapping into this are seeing massive gains.

For instance, on May 29, the meme coin MAGA (TRUMP) hit an all-time high of $15.45, breaking into the top 150 coins by market cap. Meanwhile, Super Trump skyrocketed more than 240% to lead the PolitiFi tokens sector by 24-hour gains.

STRUMP price peaked at $0.02298 on May 29, and despite the volatility, remains more than 200% up in the past week.

Meanwhile, MAGA Hat has shot up more than 500%, reaching prices of $0.0006262. Buyers could catalyse a new run to the recently hit ATH of $0.0007379.

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Singapore’s largest bank DBS holds $650 million in ETH: Nansen

• Singapore’s DBS bank holds over 173.7k ETH worth $650 million.
• Blockchain analytics plaform Nansen identified a whale wallet with the ETH as belonging to the bank.

DBS, Singapore’s largest bank that boasts nearly $740 billion in assets, holds Ethereum (ETH) worth $650 million.

On Thursday, blockchain analytics firm Nansen revealed that a whale address with more than 173,700 ETH belongs to DBS. According to Nansen, the said wallet is $200 million in profit on the ETH holdings.

At the time of writing, the wallet address held 173,753 Ether tokens. At current ETH prices of $3,738, that’s worth around $649.4 million.

While this report highlights DBS’ crypto portfolio in terms of ETH holdings, it’s worth noting that the bank has traction in the crypto space. DBS runs a digital asset custody and exchange, catering to accredited investors and announced plans to launch a crypto retail desk.

DBS recently released a report that showed increased demand for crypto across retail and hedge funds among other investors. Per the research, a lot of the interest is around “ETF-like financial products backed by cryptos.”

SEC recently approved spot ETH ETFs

Ethereum price reached highs of $4,000 in March and rose close to the mark this month after the US Securities and Exchange Commission (SEC) approved the rule change that allows for the listing of spot Ethereum ETFs in the US.

Anticipation is high ahead of the trading debut of ETH ETFs on exchanges. BlackRock’s filing of an updated spot Ethereum ETF S-1 form has added to speculation that this could happen in coming weeks.

More issuers whose 19b-4s the SEC approved recently are also expected to file their revised S-1s. Bloomberg senior ETF analyst Eric Balchunas sees end of June as a probable timeline.

DBS’ holding of ETH among other tokens is an overall bullish indicator for Ethereum and the market, particularly in regards to institutional demand.

The positive sentiment around US regulatory approach to crypto also adds to this outlook.

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Bitget Wallet Tops CertiK Crypto Wallet Security Leaderboard

Victoria, Seychelles, May 30th, 2024, Chainwire

Bitget Wallet secured the top position on CertiK’s Security Wallet Leaderboard last week, surpassing Trust Wallet and MetaMask, marking a significant milestone for Bitget Wallet, highlighting its exceptional security prowess as a non-custodial Web3 wallet.

CertiK’s 2023 Web3 industry security report identified 751 security incidents, resulting in $1.84 billion in losses, a 51% decrease from 2022. Despite this reduction, on-chain asset security remains a significant concern. Bitget Wallet has implemented several preventive measures, including integrating “keyless” MPC and AA wallet technology to address common security issues like private key loss and malicious contract authorization. The wallet also supports hardware wallet compatibility, and has undergone rigorous security audits with major security partners to enhance product transparency and reliability.

“As part of our journey to balance security, decentralization, and scalability in wallet design infrastructure, we have made it our priority to develop a comprehensive security system for our wallet to provide an unparalleled user experience while maintaining top-of-the-line safeguards against Web3 hazards, including on-chain phishing, fraud, and other issues,” Alvin Kan, Chief Operations Officer (COO) of Bitget Wallet stated.

A comprehensive risk alert system to identify and intercept potential security threats is also one of the main security features of the wallet, he continues, arguing that the importance of proactive prevention has become all the more significant in the current Web3 landscape.

Flashbots in Ethereum transactions to prevent MEV attacks and asset isolation measures for on-chain Bitcoin inscriptions have also been implemented by the wallet.

Aside from technical security parameters, the Bitget Wallet team is also committed to continue improving its measures in risk detection, elimination, and user education, to provide a comprehensive all-round security environment for its users.

Bitget Wallet’s 2024 roadmap also outlines its evolution into the Bitget Onchain Layer, laying the foundation of the future of Bitget’s ecosystem. As an additional protective layer, a Bitget Protection Fund (initially at $300M, and now worth over $400M) is also available, further fortifying the wallet’s overall risk tolerance.

Moving ahead, the wallet is committed to dedicating its efforts to making significant strides in security technology, introducing innovative and comprehensive security measures for its users.

About Bitget Wallet

Bitget Wallet is Asia’s largest and a leading global Web3 wallet with over 20 million users worldwide. It offers a comprehensive range of features, including asset management, intelligent market data, swap trading, launchpad, inscribing, NFT, DApp, and token earning center. Currently, it supports more than 100 major blockchains, hundreds of EVM-compatible chains, and over 250,000 cryptocurrencies. Bitget Wallet enhances liquidity by aggregating it across hundreds of top DEXs and cross-chain bridges, facilitating seamless trading on nearly 50 blockchains.

For more information, users can visit:

• Website
• Twitter
• Telegram
• Discord

 

Contact

PR team
media.web3@bitget.com

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As Perpetual Futures Surpass $60 Trillion in Cumulative Trading Volume, Choise.ai Launches PerpeX, a New Decentralized Perpetual Exchange

• Recent research by Cornell University has revealed that the cumulative trading volume of perpetual futures contracts since 2020 has surpassed $60 trillion
• Perpetuals have a number of advantages over spot market cryptocurrencies, including lower fees and faster execution
• Choise.ai has announced the launch of PerpeX, a new decentralized exchange specifically designed for this perpetuals market

The perpetual futures market is one of the fastest growing segments of the cryptocurrency sector, with recent research from Cornell University revealing that the cumulative trading volume of perpetual contracts since 2020 clocked in at a truly staggering $60 trillion in February. 

To put that figure into perspective, the cumulative trading volume for the entire spot cryptocurrency market during the past year was approximately $12 trillion. 

To serve that fast-growing perpetuals market, Choise.ai has announced the launch of PerpeX, a new decentralized perpetual exchange that aims to set a new industry standard for perpetual futures trading.

Announcing the launch of PerpeX, Vlad Gorbunov, Founder of Choise.ai, said: 

“PerpeX is a decentralized tool that significantly strengthens our Web3 initiatives. In the future, this product will feature AI support to assist with setting risk profiles and leverages, while also managing trades. Additionally, we are advancing towards cross-chain solutions. 

Being developed by a dedicated team, our exchange will become a standard for one of the lowest gas fees in the market and will be integrated into the enterprise sector, aligning well with Choise.ai and marking a new direction for us. The CHO token will be deeply integrated into PerpeX, which will enhance its utility value.”

Aiming to Impress

The new PerpeX exchange is aiming to impress crypto traders with its advanced features, including:

Expansive Market Variety: Although Choise.ai is a leading crypto platform, PerpeX traders aren’t limited to cryptocurrency futures. They can also trade forex, metal and stock futures on this new perpetuals exchange, with leverage of 200x to 1000x, depending on the market. Traders will also have the option to create new synthetic futures markets using a price oracle. 

Virtual Automated Market Maker (vAMM): PerpeX leverages cutting-edge DeFi mathematics to replace the traditional order book with a virtual algorithmic one. This enables users to place orders even in low-liquidity markets, as the PerpeX core automatically executes trades based on a sophisticated algorithm tailored to each market.

Comprehensive Trading Tools: PerpeX will support all classic trading tools, including limit orders, stop losses, and take profits, and traders will have the option to alter their leverage levels by adding or reducing collateral. 

Efficient Price Aggregation: PerpeX will use an oracle system to aggregate prices from leading sources such as Chainlink and PYTH, ensuring accurate and reliable pricing for all markets.

Liquidity, Staking and Earnings: PerpeX users will be able to stake USDT on the platform, participate in the shared liquidity pool, and receive a portion of the platform’s income.

Minimal Transaction Costs: Choise.ai said PerpeX’s fee structure is specifically designed to ensure the lowest possible transaction fees for all trades.

Analytics and Monitoring: PerpeX will offer traders advanced monitoring and alert systems to keep track of market movements and trading performance.

Token Integration: Choise.ai’s CHO token will be deeply integrated into the exchange, and will offer traders discounts of up to 50% when they pay trading fees with CHO, as well as the opportunity for revenue sharing and liquidity provision earnings. Given that some analysts are estimating that PerpeX’s total market potential could eventually climb to $100 trillion, that could mean a lot of revshare potential for perpetual futures traders on this exchange.

It’s also worth mentioning that the value of the CHO token itself could rise sharply when the new PerpeX platform goes live, because as we’ve highlighted in the past big announcements from Choise.ai tend to trigger a surge in the token’s price, most recently a 500% spike in value for $CHO earlier this year. 

In fact, a number of analysts for forecasting another 20x jump for CHO in the near term:

Just Invested in AI GEM

◢ It’s about @ChoiseAI. The large ecosystem focused on enterprise, Web3, and AI solutions.

The $CHO market cap is only $10M, despite ChoiseAI:

• Having obtained global licenses.
• Partnered with Visa and Mastercard.

◢ Recently announced a merger… pic.twitter.com/VbTftdf36H

— Ronin (@DeRonin_) May 29, 2024

Choise.ai is yet to confirm a specific launch date for PerpeX, but industry insiders suggest it could be available to perpetual futures traders as early as June, so watch this space.

The post As Perpetual Futures Surpass $60 Trillion in Cumulative Trading Volume, Choise.ai Launches PerpeX, a New Decentralized Perpetual Exchange appeared first on CoinJournal.

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Bitbot presale now in final stage, prepares for exchange listings

Key takeaways 

• The Bitbot presale is now in its final stage, with nearly $4 million raised so far.
• The team is already preparing to list the native token on crypto exchanges.

Bitbot presale approaches its end

The Bitbot presale is slowly coming to an end, with the last stage almost completely sold out. The presale has lasted for roughly four months and has raised nearly $4 million so far. According to the development team, they are already working to list the $BITBOT token on cryptocurrency exchanges. 

What is Bitbot?

With the Bitbot presale close to its end, let’s dive deeper into this project and what it presents. It is a unique project that wants to introduce AI to the crypto trading ecosystem.

Bitbot is a Telegram AI trading bot that allows traders to gain access to some exciting features that would help them with their cryptocurrency trading journey. With this tool, traders can trade cryptocurrencies via their cold wallets on Telegram.

Bitbot is leveraging Telegram thanks to its status as the leading messaging platform for cryptocurrency users. With over 900 million users globally, Bitbot wants to use Telegram to gain massive adoption.

It will give traders access to a wide range of tools that will help them execute trade faster, securely, and more transparently. 

Bitbot’s launch comes during a Bull Run, with the total crypto market cap now approaching the $3 trillion mark. The tool will provide services to retail and institutional traders in the cryptocurrency market.

Bitbot’s AI trading services to ease trading

According to the Bitbot team, its services will make it easier for users to access institutional-grade features. The trading tool will focus on offering tech-savvy features to ease the trading process for users.

A key aspect of Bitbot is the security of user assets and information. It will use the Knightsafe feature to offer a self-custody solution, eliminating the typical risks associated with Telegram trading.

Furthermore, Bitbot will incorporate anti-MEV and anti-rug solutions to help users protect their assets. Also, Bitbot will integrate an ultra-flexible wallet management powered by non-custodial API technology into its tool. 

Another excellent feature of Bitbot is Copy Trading. This feature will allow new traders to copy the trades of the strongest-performing wallets based on on-chain activities.

Bitbot’s presale approaches $4 million

The Bitbot presale is progressing excellently and it is currently in its last and 15th stage. So far, Bitbot has raised $3,967,749 of the required $4,324,000 for this stage. 

Currently, the $BITBOT token is going for $0.020 and it is the last presale price before the token launches on crypto exchanges. Per the tokenomics, the development team will hold on to 20% of the total token supply and use it to fund ongoing development. 14% of the total token supply is allocated to marketing & CEX listings while another 3% is allocated to exchange liquidity provision.

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

Should you buy $BITBOT ahead of its exchange listings?

The Bitbot presale is coming to an end and this might be the last opportunity for investors to purchase the tokens at a discount. Historically, presales are the best times to invest in crypto projects as they allow investors to buy tokens at a discount before they get listed on cryptocurrency exchanges.

Bitbot could become one of the leading AI trading platforms in the crypto space thanks to its use of Telegram. Its native token could record a massive surge in price if the tool gains the right level of adoption.

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Bitget Wallet Token (BWB) makes debut on the Bitget Launchpad

Victoria, Seychelles, May 29th, 2024, Chainwire

Bitget, the world’s leading cryptocurrency exchange and Web3 company, has announced the launch of Bitget Wallet’s BWB token on its Launchpad. The sale of the BWB token will take place between 1st June and 6th June, and it will be listed in the Bitget spot market at 20:00 (GMT+8) on 6th June, 2024.

As a leading token launch platform, Bitget Launchpad enables users to participate in fundraising for promising and emerging projects, offering tokens in return.

More than just a wallet, Bitget Wallet emerges as a full-stack decentralized ecosystem and gateway for users into Web3. According to its 2024 roadmap, Bitget Wallet has unveiled the launch of the Bitget Onchain Layer, an visionary blueprint for its future endeavours into Web3 that positions itself as both the on-chain extension and decentralized future of the Bitget ecosystem.

On top of serving as the official native token of Bitget Wallet, BWB also plays a crucial role in the Bitget Onchain Layer. Powering the Bitget Onchain Layer is a $10 million BWB Ecosystem Fund that seeks to incubate and grow partnered projects building on the Bitget Onchain Layer. The seamless integration of on-chain and off-chain resources is a pivotal element in the development of the Bitget Onchain Layer, leveraging Modular-feature DApps (MFDs) to facilitate native access to various Web3 financial services from the convenience of the Bitget Wallet application.

The BWB token offers extensive utility within the Bitget ecosystem, empowering users through a variety of features. It enables community governance, allowing token holders to participate in decision-making processes. Users can also stake BWB tokens to potentially earn rewards, further enhancing their overall potential yield. The token will also be integral for paying gas fees across multiple chains with the future release of the Account Abstraction (AA) wallet. BWB holders gain access to Bitget Wallet’s Launchpad, Launchpool and Airdrop events. Holding BWB will also qualify users for airdrops from projects building on the Bitget Onchain Layer, providing continuous value and benefits for holders of the token.

During the commitment period of BWB being launched on Bitget Launchpad, users may commit Bitget’s native token BGB to participate in the sale. The BGB swap price will be announced after the holding calculation period ends. Upon closing the commitment window, BWB tokens will be allocated to each user based on their committed BGB.

“Assessing the value of Bitget Wallet and the BWB token requires a broader perspective than that of a mere Web3 wallet,” Alvin Kan, COO of Bitget Wallet stated. “The decentralized future of the Bitget group lies within the Bitget Onchain Layer, an open and collaboratively built ecosystem that acts as an intermediary layer for user interaction within Web3. Within this framework, the BWB token will serve not only as the official ecosystem token of Bitget Wallet but also the heart of the Bitget Onchain Layer.”

“As our ecosystem continues to develop, the BWB token will play increasingly significant roles in empowerment and application within the Bitget Onchain Layer, thus broadening its value discovery and recognition as ecosystem construction progresses,” he added.

In March 2023, Bitget invested an additional $30 million into Bitget Wallet (previously known as BitKeep), thereby securing a controlling stake and catalyzing a comprehensive brand upgrade. Recently, Bitget Wallet has unveiled its detailed roadmap for 2024, which includes the development of the Bitget Onchain Layer. This initiative is poised to enhance the platform’s role as a decentralized extension and the future core of the entire Bitget ecosystem.

About Bitget

Established in 2018, Bitget is the world’s leading cryptocurrency exchange and Web3 company. Serving over 25 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, users can visit:

• Website
• Twitter
• Telegram
• LinkedIn
• Discord
• Bitget Wallet

For media inquiriest: media@bitget.com

 

Contact

Public Relations
Simran
Bitget
media@bitget.com

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Notcoin (NOT) near top 100 by market cap amid price surge

• Notcoin (NOT) price jumped 20% on Tuesday as the new token continued to rise.
• Currently with a market cap of $942 million, Notcoin looks primed for a break into the top 100 coins.

Bitcoin, Ethereum and Solana have all slipped 3% in the past 24 hours. This in turn sees most of the crypto market struggling.

However, Notcoin (NOT), Celestia (TIA) and memecoins Floki and Pepe are among the exceptions as momentum keeps them in the green.

Notcoin price soars, token on cusp of breaking into top 100 coins

Notcoin, a recently launched crypto token, has outperformed amid bullish projects and could break into the top 100 coins by market cap if gains hold.

As CoinJournal highlighted on Monday, the price of NOT went vertical as bulls rode a fresh surge in interest. Key to this is Notcoin’s airdrop announcement and the unveiling of a passive earning feature.

According to data from CoinGecko, Notcoin (NOT) token has pumped 20% in the past 24 hours to reach $0.009873. NOT price is currently at $0.009197, indicating a 61% increase this past week. NOT ranked second behind Pepe (PEPE) as top trending tokens last week.

Notcoin has a total supply and circulating supply of 102,708,221,600.

The fully diluted valuation (FDV) stands at just over $942 million. Per CoinGecko, at current prices, the altcoin’s market cap of $942 million puts it in 107th spot among largest cryptocurrencies.

In terms of ranking, NOT has flipped EOS and IOTA. Notcoin is likely to overtake Tezos and Sythentix Network, which are 105 and 102 respectively with market caps of $948 million and $980 million.

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Former FTX exec Ryan Salame sentenced to 90 months in prison

• Ryan Salame sentenced to 90 months in prison.
• Former FTX executive’s sentencing comes two months after former CEO Sam Bankman-Fried was sentenced to 25 years in prison.

Former FTX executive Ryan Salame has been sentenced to 90 months in prison, the United States Attorney for the Southern District of New York Damian Williams has announced.

Salame previously pleeded guilty

Salame’s sentencing comes two months after former FTX CEO Sam Bankman-Fried received a 25-year sentence.

Previously, Salame had pleaded guilty to DOJ charges, including conspiracy to make unlawful political donations, plans to deceive the Federal Election Commission and conspiracy to run an unlicensed money transfer business. 

The prosecution said he worked on these alongside Bankman-Fried and other top FTX executive Nishad Singh.

As well as the 7.5-year sentence, the court has imposed a $6 million forfeiture and over $5 million in restitution order against the ex-FTX exec. He also faces a sentence of three years of supervised release.

In a statement following the sentencing, Williams said:

“Ryan Salame agreed to advance the interests of FTX, Alameda Research, and his co-conspirators through an unlawful political influence campaign and through an unlicensed money transmitting business, which helped FTX grow faster and larger by operating outside of the law.  Salame’s involvement in two serious federal crimes undermined public trust in American elections and the integrity of the financial system.  Today’s sentence underscores the substantial consequences for such offenses.”

Salame became co-CEO of FTX Digital Markets Ltd, the Bahamas-based affiliate of the FTX crypto exchange that collapsed in 2022.

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Bullish Analysts Predict Avalanche (AVAX) and Rollblock (RBLK) Could Follow In Ethereum’s Footsteps

With the bull market drawing closer, Ethereum has been one of the top-performing altcoins in the market. The odds of Ethereum ETF approval recently rose to 85%, triggering a massive rally for the top altcoin. 

Now some analysts are tipping Avalanche and Rollblock to follow in the same footsteps. 

Over the past few months, the Avalanche blockchain has witnessed massive adoption, with the new partnership projected to be a game changer. Meanwhile, the Rollblock presale is already making waves across the altcoin market while attracting whales. A growing number of analysts believe that both tokens could witness massive growth in the coming weeks. 

Rollblock Price Increases by 20% As the Altcoin Attracts Whales

Rollblock (RBLK) is a new GambleFi ecosystem that aims to close the gap between CeFi and DeFi games while bringing the best of both worlds. The ecosystem is developing solutions to solve issues of transparency, security, and efficiency inherent in traditional casino platforms. At Rollblock, all transactions are recorded on the blockchain making them permanent and immutable, meaning it is impossible to alter bets when placed. 

The platform’s security is top-notch, as Rollblock ensures that all transactions are encrypted with the latest blockchain technology. Issues of scalability are solved, as the platform was built to accommodate a large audience without compromising performance and user experience. Rollblock doesn’t require KYC, making it easier to deposit and withdraw. 

The Rollblock platform is a fully functional and operational crypto casino games platform. The ecosystem complies with all the legal frameworks to protect players’ data. Notably, Rollblock offers multi currency staking. That means users can stake a host of cryptos like Ethereum, etc. The platform’s native currency is RBLK. With its surging popularity, a growing number of analysts think it is could be one of the best altcoins to invest in now.  

The RBLK token is currently in stage 2 of the presale and sold for just $0.012. The team has sold over 36M tokens, which has helped them raise over $360,000 in presales. Having given early buyers 20% ROI within weeks of the presale, some analysts are now predicting it could return 800% in the presale, which could make it one of the top altcoins to buy now. 

Avalanche Price Analysis – Can It Hit $100 in 2024

Avalanches’ recent partnership with Gamestarter, a well-known web3 gaming forum, to launch GameChain, a new layer-1 platform for simplifying blockchain game development, could be a game changer in the DeFi market. According to Gamestarter, over 50 projects are poised for launch in GameChain. 

Following the announcement, Avalanche’s price jumped up, with the token gaining 25% in the past week. Meanwhile, the token is on the path of establishing support above $40. A move that could trigger more rallies. With Avalanche’s market cap and other key market indicators showing green, the token is poised for a rise. As such, some Avalanche price predictions are in the range of $60 in Q3 and $100 in Q4, making it an altcoin to watch in 2024. 

Ethereum ETF Approval Rumors Boost Price

With the odds of Ethereum ETF approval rising to 85%, the Ether price has surged in the past few days. Standard Chartered, one of the top banks, expects the SEC to approve Ether ETFs this week, a move that could lead to inflows of between $15B and $45B in the first 12 months. If such happens, the Bank believes that ETFs could drive the Ethereum price to $8000 before the end of 2024. 

Meanwhile, data from CoinMarketCap shows that Ethereum’s price has surged by 29% in the past week. Although the Ethereum trading volume is down, analysts believe the token will soon retest the $4000 mark. As such, most Ethereum price predictions see the altcoin hitting $5000 in 2024.

You can find out more about the Rollblock (RBLK) presale below:

Website: https://presale.rollblock.io/

Socials: https://linktr.ee/rollblockcasino

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Mt. Gox moves over $9 billion in BTC to new wallet

• Bitcoin price dipped nearly 2% on Tuesday morning to trade at lows seen last Friday before rebounding slightly as of writing.
• This BTC price decline came after the latest crypto news around defunct cryptocurrency exchange Mt. Gox. 

On May 28, Mt. Gox moved more than 141,000 BTC worth over $9.6 billion to a new unknown wallet.

Data shows the transfers happened in several transactions, with chunks of between 3,999 BTC and 32,499 BTC. The latest on-chain data shows all of the coins are now transferred to the new address.

As the market reacted to the news, Bitcoin price fell from highs of $70,000 to lows of $67,550. The flagship cryptocurrency’s price had however rebounded to above $68,000. BTC remains 4% down this past week.

BTC price and the Mt. Gox creditor repayment plan

Mt. Gox was once the crypto industry’s largest Bitcoin exchange before a 2014 hack saw it lose over 850,000 BTC. After years of waiting amid recovery efforts, creditors are set to receive reimbursements.

The process sees the defunct exchange move BTC from its cold wallets for the first in five years. According to the approved repayment plan, creditors should receive their bitcoins by October 31, 2024.

The bearish market reaction is down to the potential influx of fresh selling pressure on prices.

Analysts at K33 Research warned in April that the impending $9 billion Mt.Gox payout could catalyse downside pressure on Bitcoin’s price.

Despite this outlook, the market remains largely bullish on BTC price long term. Crypto analyst Miles Deutscher believes any dips amid the repayments could offer an opportunity to accumulate.

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Nomura partners with GMO to explore stablecoin issuance in Japan

• Nomura Holdings and Laser Digital have partnered with GMO Internet Group on a new stablecoin-focused project.
• The companies will collaborate in the issuance, redemption and circulation of Japanese yen and US dollar-pegged stablecoins in Japan

Nomura Holdings, the Japanese banking and investment giant, is teaming up with GMO Internet Group to explore the issuance of fiat-backed stablecoins in Japan.

The collaboration, according to an announcement published on Monday, will see Nomura Holdings, through its digital assets arm Laser Digital, support the issuance, redemption and circulation of Japanese yen (JPY) and US dollar-(USD) denominated stablecoins.

Eyeing the stablecoin market in Japan

As well as JPY and USD stablecoins, Nomura and GMO plan to offer a “Stablecoin-as-a-Service” solution. The project will support companies looking to issue stablecoins for the Japanese market. 

Users of this new service will benefit from aspects such as regulatory compliance management, blockchain integration and backend transactions management.

According to today’s announcement, Nomura will contribute to the project via its extensive expertise in crypto trading, asset management and venture investment. GMO will offer the technological expertise.

“We’re grateful to be cooperating with the Nomura Group to explore the issuance of stablecoins in the Japanese market. Their infrastructure and heritage alongside the experience of Laser Digital, are of paramount importance to the success of this project in Japan,” Masatoshi Kumagai, founder and Group CEO of GMO Internet Group, said in a statement.

 “This project has the potential to greatly enhance digital asset accessibility and innovation in the Japanese financial landscape,” Nomura Holdings President and CEO Kentaro Okuda, noted.

Laser Digital and GMO seeing growth

Nomura announced its digital assets subsidiary in March 2022, with Laser Digital now a prominent player in the crypto and blockchain space. Recently, the platform partnered with Pyth Network as a data provider.

GMO-Z.com Trust Company, GMO’s US subsidiary, has issued stablecoins on top blockchains, including Ethereum, Stellar, and Solana.

The NYDFS-chartered platform’s regulatory-compliant stablecoins include GYEN and ZUSD.

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Toncoin price: What next for TON as TVL surpasses $300 million?

• Toncoin price bounces as total value locked (TVL) on the TON Blockchain surpasses $300 million.
• DeFiLlama data showed TON Blockchain’s TVL at $315 million, up from $156 million on May 1.
• Telegram related news and Pantera Capital’s investment have been notable catalysts for Toncoin (TON).

Toncoin (TON), the native cryptocurrency token of The Open Network (TON) Blockchain, currently trades around $6.40.

After flipping negative amid profit-taking in recent days, the price of Toncoin looks poised for a major bounce.

TON Blockchain TVL surpasses $300 million

According to data from DeFiLlama, the total value locked (TVL) on the TON Blockchain has increased sharply this month. Indeed, the TON’s ecosystem has seen the TVL jump from $156 million on May 1 to currently stand at $315 million.

The milestone comes as TON shows growing traction in the decentralized finance (DeFi) market. Top projects are across decentralized exchanges (DEXes), lending, liquid staking and gaming.

In the past month, for instance, DEX protocols Ston.fi and Dedust recorded a TVL surge of 132% and 30% respectively. Liquid staking protocols Tonstakers and bemo also recorded notable increases of 20% and 17% respectively.

Toncoin price outlook

Toncoin price reached highs of $7.63 in April, riding positive news and network developments.

Telegram’s launch of an ad revenue share program with payouts in Toncoin and a TON Blockchain promotion The Open League provided some of the upside momentum. There was also a massive surge for TON token when venture capital firm Pantera Capital revealed a new investment in TON.

The recent market debut of Notcoin (NOT) also provided buyside pressure for Toncoin.

However, TON price dipped amid a retreat for the broader market, with Bitcoin and Ethereum’s declines to support levels last week adding to the downside pressure. BTC and ETH are back above $68,000 and $3,800 respectively, helping top altcoins higher as meme coins Pepe and FLOKI outperform peers.

TON price looks poised for a bounce as it flips green on the daily chart.

If bulls strengthen above the immediate support zone, a breakout to $7 could bring a new all-time high into view.

On the other hand, a downturn would risk a retreat to lows of $5.64 and potentially $4.86.

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PEPE and FLOKI extend gains as memecoins tease bull run

• Pepe price is up 80% this past week and over 140% in 30 days.
• FLOKI has jumped 36% this past week and 53% in the last 30 days.

Pepe (PEPE) was the standout memecoin this past week, rising more than 80% to reach a new all-time high of $0.0000169 on May 27. Meanwhile, Floki (FLOKI) has surged to $0.0002656 amid fresh momentum in the memecoin market.

PEPE and FLOKI lead meme coins up

PEPE price is up 14% in the past 24 hours, bringing 30-day gains for the meme coin to 140%. Pepe has outperformed top meme coins over this period.

The 24-hour trading volume of Pepe stood at over $1.8 billion at the time of writing. Except for the stablecoins USDT, USDC and FDUSD, Pepe’s volume is fourth-largest behind Solana, Ethereum and Bitcoin.

The upside sees Pepe cement its position as the third-largest meme coin by market cap. At $7.1 billion, it is more than double that of Dogwifhat ($3.1 billion) but behind the top two of Shiba Inu and Dogecoin at $14.6 billion and $24 billion respectively.

Elsewhere, FLOKI price is up 18% in the past 24 hours and 53% in the past two weeks to hit highs last seen in March 2024.

The uptrend is solidifying as investors eye top meme coins. Coinbase announcing support for FLOKI perpetual futures has catalysed further interest ahead of listing on May 30.

Can FLOKI ride this and other catalysts to reach a new all-time high? Bulls appear in control.

Read more: Analysts bullish on Floki as Pepe and Bonk rally.

Crypto upbeat ahead of US election

The past week was largely positive for cryptocurrency after major regulatory-related developments in the US. The SEC approved spot Ethereum ETFs and lawmakers passed key crypto bills that experts say suggest a flip in the regulatory landscape.

Former US president Donald J. Trump’s recent remarks about crypto has buoyed sentiment, propeling PolitiFi tokens.

While ETH price consolidated above $3,700 after the ETF news, it has climbed above $3,900 on Monday, and could eye a new high amid bullish predictions for Bitcoin (BTC) and the altcoin market.

In this case, its likely PEPE and FLOKI’s price gains are just getting started.

Other memecoins making waves in the market today are Bonk (BONK) and MAGA (TRUMP) – the latter surging by more than 25% in the past 24 hours to reach a new all-time high above $13.

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Trump promises to free Silk Road creator Ross Ulbricht if re-elected

• Trump pledged to free Ross Ulbricht should he win the upcoming US presidential election.
• Ulbricht is the creator of the defunct marketplace Silk Road and is currently serving a life sentence.

Former US president Donald J. Trump has pledged to release Silk Road founder Ross Ulbricht should he be re-elected as president of the United States in the upcoming elections.

The former US president is seeking re-election and has over the past several months made a massive impression on the crypto community.

Now one of his election pledges is that he will commute Ulbricht’s sentence as soon as he takes office.

“If you vote for me, on day one I will commute the sentence of Ross Ulbricht to a sentence of time served,” Trump noted in remarks made at the Libertarian National Convention in Washington, D.C on Saturday.

Whos is Ross Ulbricht?

Ross Ulbricht, aka Dread Pirate Roberts, created Silk Road in 2011 and operated the darknet marketplace until October 2013.

US law enforcement accused Ulbricht of running an online criminal enterprise among other charges. Prosecution stated that Silk Road had enabled the sale and purchase of more than $200 million worth of illegal drugs and other illicit goods and services.

In total, he faced seven counts, including conspiracy to launder money, narcotics trafficking and computer hacking.

Following his arrest in October 2013, Ulbricht was found guilty on all seven counts in 2015. The court sentenced him two life terms and a separate 40 years without the possibility of parole.

Many have criticised Ulbricht’s treatment and sentence and calls for his release continue across the crypto community.

“He’s already served 11 years, [and] we’re gonna get him home,” he added as the audience exploded in cheers.

Trump wants US to lead in crypto innovation

As well as this promise, Trump has asserted that his administration, if elected, will support the crypto industry and make the US the global leader.

“Our country must be the leader in the field. There is no second place,” he wrote on Truth Social.

Trump is also in support of crypto self-custody, noting that a vote from the over 50 million Americans holding crypto today will be a vote to “keep Elizabeth Warren and her goons away” from people’s Bitcoin. Trump will also not allow a US central bank digital currency (CBDC).

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BEVM Unveils Groundbreaking Taproot Consensus for Decentralized Bitcoin Layer 2 Solution

Cardiff, 英国, May 26th, 2024, Chainwire

On May 20, 2024, the Bitcoin Layer2 development team BEVM released the technical yellow paper titled “Taproot Consensus: A Decentralized BTC Layer2 Solution.” This paper details the implementation of Taproot Consensus, leveraging native Bitcoin technologies such as Schnorr signatures, MAST, and Bitcoin SPV nodes to build a fully decentralized BTC Layer2 solution. Taproot Consensus represents a significant leap in native Bitcoin scalability, combining existing Bitcoin technologies innovatively without modifying Bitcoin’s core code.

I. History of Bitcoin’s Technical Iterations

• October 31, 2008: Satoshi Nakamoto published “Bitcoin: A Peer-to-Peer Electronic Cash System,” introducing Bitcoin and the concept of SPV (Simple Payment Verification).
• January 3, 2009: Nakamoto mined the Genesis Block, launching Bitcoin. The original code used ECDSA for digital signatures instead of the more suitable Schnorr signatures, which were under patent protection at the time. Schnorr signatures retain all the functionalities and security assumptions of ECDSA and can surpass the 15-signature limit of ECDSA, enabling the management of Bitcoin with thousands of addresses without affecting signing speed.
• 2018: Bitcoin core developers proposed integrating Schnorr signatures into the Bitcoin network.
• November 14, 2021: The Taproot upgrade integrated Schnorr signatures and introduced MAST (Merkelized Abstract Syntax Trees), enabling smart contract-like capabilities and decentralized multi-signature management.
• The Taproot Consensus solution by BEVM builds on these advancements, combining Schnorr signatures and MAST to manage multi-signature addresses and enable complex business scenarios in Bitcoin Layer2.

II. Overview of the Taproot Consensus Solution:

The yellow paper begins by highlighting Bitcoin’s non-Turing complete nature and limited functionality for smart contracts. It argues for using Bitcoin’s existing capabilities to build a decentralized Layer2 solution rather than modifying Bitcoin Layer1.

BEVM’s Taproot Consensus combines Bitcoin’s Taproot technology (Schnorr signatures and MAST), Bitcoin SPV light nodes, and the BFT PoS consensus mechanism to create a decentralized and consistent Layer2 network.

III. Detailed Explanation of Taproot Consensus Architecture

The Taproot Consensus architecture comprises three main components: Schnorr+MAST, Bitcoin SPV, and Aura+Grandpa.

· Schnorr+MAST: Uses these technologies from the Taproot upgrade to achieve decentralized Bitcoin multi-signature management driven by Bitcoin code.

· Bitcoin SPV: Allows synchronization and verification of Bitcoin transactions without running a full node.

· Aura + Grandpa: Advanced PoS consensus protocols for Byzantine fault tolerance, ensuring high consistency among network nodes.

In the BEVM system, each validator holds a BTC private key for Schnorr signatures. The aggregated public key forms a MAST tree, enabling BTC transfers and inscriptions to the threshold signature address. Validators act as Bitcoin SPV light nodes, synchronizing the BTC network state securely and permissionlessly. Aura+Grandpa ensures the Layer2 network’s security and trustworthiness, with assets managed by BFT consensus.

The operating principle of Taproot Consensus is: “In the BEVM system, each validator holds a BTC private key for Schnorr signatures. The characteristic of Schnorr signatures enables efficient signature aggregation, thereby enhancing the system’s security and efficiency. The aggregated public key Pagg, generated through the Musig2 multi-signature scheme, forms a large MAST (Merkle Abstract Syntax Tree). After generating the root hash of the MAST tree, validators perform BTC transfers and inscriptions to the threshold signature address generated by the MAST tree, enabling the submission of data from the BTC mainnet to the BEVM network. Each validator also acts as a Bitcoin SPV (Simplified Payment Verification) light node, allowing them to securely and permissionlessly synchronize the BTC network state.”

IV. Other Technical Details in the Yellow Paper – True Decentralization

The yellow paper also details the implementation of Schnorr signatures, MAST, Bitcoin SPV light nodes, and Aura+Grandpa, providing a comprehensive technical outline for those interested in Bitcoin technologies. It explains the Musig2 implementation and contrasts with other BTC Layer2 projects like Mezo, which uses the tBTC protocol. Unlike tBTC, which relies on a network of nine signatories, Taproot Consensus integrates multi-signature networks with BFT PoS consensus, achieving true decentralization.

Moreover, the yellow paper explains the implementation process of Musig2 and the differences between other BTC Layer2 projects like Mezo and Taproot Consensus. Mezo’s underlying technical structure is based on the tBTC protocol, which uses Bitcoin multi-signature to construct a threshold signature network, offering strong consistency compared to traditional distributed networks. However, tBTC still relies on a network of nine signatories, whereas a truly decentralized system should be consensus-driven, combining multi-signature networks with BFT PoS (Byzantine Fault Tolerance Proof of Stake) consensus mechanisms. This is the difference between distributed networks and blockchains; distributed networks emphasize distribution but lack Byzantine fault-tolerant consensus, whereas blockchains, while also being distributed networks, are driven by Byzantine fault-tolerant consensus, achieving true decentralization. The Taproot Consensus solution adopts this more advanced design. By integrating Schnorr signatures, MAST, Bitcoin SPV light nodes, and Aura and Grandpa Byzantine fault-tolerant consensus mechanisms, it constructs a highly consistent and secure decentralized Layer2 scalability solution. This integration enhances the scalability and usability of the Bitcoin network and ensures the security and consistency of the BEVM network.

Conclusion

The BEVM team’s technical yellow paper comprehensively describes Taproot Consensus, a Bitcoin Layer2 solution built entirely on native Bitcoin technologies. It respects and innovates on Bitcoin’s original technological direction, making it a true evolution of native Bitcoin scalability technology. As the Bitcoin ecosystem evolves, solutions like Taproot Consensus will be crucial for its development, serving as major cornerstones for truly decentralized Bitcoin Layer2 solutions.

About BEVM

BEVM is the first fully decentralized, EVM-compatible Bitcoin Layer 2 solution. It allows Ethereum ecosystem DApps to operate on Bitcoin, using BTC as gas. BEVM enhances Bitcoin’s utility by providing a secure and scalable platform for decentralized applications. The system integrates advanced consensus mechanisms, cross-chain interaction, and robust data integrity to ensure a seamless experience. BEVM aims to innovate within the Bitcoin ecosystem by offering increased scalability, security, and compatibility with popular Ethereum tools and applications.

For more information, users can visit BEVm’s official website or follow BEVM on Twitter.

 

Contact

Tommie
BEVM
tommie@bevm.io

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