Cryptocurrency

Gluwa CEO participated in the “Destination 2030: Nigeria Everywhere” event, a side panel during the United Nations General Assembly, hosted by Nigeria’s Ministry of Culture. During the panel, he emphasized the potential for Nigeria’s cultural and creative industries to gain global prominence through blockchain innovation.Speaking at the event, Gluwa’s CEO highlighted Nigeria’s unique cultural heritage and its captivating storytelling traditions. “Nigeria has a unique culture and a unique story to tell,” he remarked. “As a blockchain entrepreneur, I envision working closely with Nigerians to create a truly borderless financial system that amplifies their creative voices on a global stage.”He outlined how blockchain technology could enable the world to invest in Nigeria’s creative industries, particularly its thriving film sector, and beyond. Through tokenization, investments in Nigerian films and other creative projects can be democratized, allowing people from around the globe to participate in and trade these assets. Additionally, he proposed blockchain-based solutions for facilitating donations to support small creators and emerging talents.”The power of blockchain lies in its ability to break down barriers and empower creatives, no matter where they are. By bringing the Nigerian creative industry to the international market, we can help secure investments, promote cultural exchange, and provide new revenue streams for creators,” he added.The CEO’s participation in the “Destination 2030” event reinforced Gluwa’s commitment to using blockchain technology to address global challenges and unlock RWA opportunities.About GluwaGluwa is a blockchain innovation and development company that creates technology solutions for real-world use cases in emerging markets to make financial accessibility a universal reality. Gluwa builds borderless technology to unite our global economy and empowers a new generation of users with the economic tools, education, and accessibility they need to thrive in the new digital age.Website | X/Twitter | Medium | Discord | GithubContactDirector of MarketingAlan [email protected] article was originally published on Chainwire More

The grant will support the integration of Accelchain’s platform with Substrate, a framework used for building decentralized applications in Polkadot. The process allows developers to create and deploy Substrate-based dApps without writing code, Accelchain said in a statement.Accelchain plans to expand its community by targeting developers and enterprise partners. The company has formed partnerships with node providers like Google (NASDAQ:GOOGL) Cloud and is running developer acquisition programs at universities and DAOs.Accelchain, which launched its no-code platform in October 2023, currently has around 2,000 developers using its platform and expects that number to grow to 20,000 by the end of 2024. The platform uses Large Language Models (LLMs) to generate dApps based on user requirements, validate business logic, and secure applications during runtime.The company also noted that the platform’s AI model can detect and block malicious transactions in real-time. This feature protects Web3 applications from exploits such as front-running and sandwich attacks.Founded by Krishna Srinivasan and Ram Shanmugam, Accelchain has laid out a roadmap focusing on achieving Polkadot compatibility and expanding its developer community through workshops and hackathons, the statement added.Srinivasan and Shanmugam previously co-founded AutonomIQ, a generative AI software testing platform acquired by Sauce Labs. The Accelchain team also includes former employees of Google and ServiceNow (NYSE:NOW).The Web3 Foundation is offering a 10 million DOT prize pool, worth around $65 million, to back the rollout of the Join-Accumulate Machine (JAM) upgrade in the Polkadot ecosystem. This initiative builds a decentralized network that can handle diverse computational tasks within the ecosystem. To participate, entrants must meet certain criteria, such as importing and producing blocks, meeting performance benchmarks on Kusama and Polkadot, and passing security checks. More

An increasing amount of long positions entered the market when the price of Bitcoin reached $64,800, ultimately making the situation worse. Based on the data, it appears that a lot of traders were too optimistic when Bitcoin got close to $64,800. Anticipating a breakout to higher levels, there was a significant influx of long positions. But as soon as Bitcoin was unable to continue its upward trajectory, this optimism gave way to fear. The subsequent sell-off erased about 4,000 BTC in open interest in Binance futures, contributing to the market’s general bearish mood. The abrupt decline in open interest is noteworthy as it emphasizes the unwinding of leveraged positions.An excessive number of leveraged long positions can lead to a precarious state of the market since even a small decline in price can precipitate a wave of liquidations. In fact, the price of Bitcoin fell more quickly and dramatically than anticipated as a result of a wave of liquidations that were sparked by the decline in value.Significant concerns about who is selling are brought up by the $1.28 billion sell-off and the drop in open interest. Large institutional investors, or whales, might be taking profits at significant resistance levels such as $64,800. These major players frequently sell into strength, understanding that a sizable chunk of the market is overleveraged and providing them with a chance to sell at premium margins.This article was originally published on U.Today More

The BITmarkets crypto exchange has published its end-year update for its crypto study on the game-changers for crypto in 2024, entitled “Revisiting the Game-Changers for Crypto”.Amongst the listed assets, which include cryptocurrencies and other digital assets with the potential to transform the crypto world as we know it, an emerging newcomer is Sui—a blockchain token that is gaining popularity and significance within the decentralized finance (DeFi) applications and technology.About BITmarketsBITmarkets is a cryptocurrency exchange that offers 24/7 support in 15 languages. Traders can engage in trading more than 200 cryptocurrencies, as well as gain access to daily market updates and diverse educational materials. For more information, explore bitmarkets.com or visit the exchange’s listing on CoinMarketCap.com.Contacts:[email protected]@bitmarkets.comBITmarkets Spot Trading Services are provided by UAB BITmarkets, which is an authorized virtual currency exchange and depository virtual currency wallet operator in Lithuania operating under license no: 306062346, supervised by the Financial Crime Investigation Service and acting under the trademark BITmarkets.ContactAli [email protected] article was originally published on Chainwire More

Bybit’s World Series of Trading (WSOT) 2024, the longest-running and most rewarding trading competition of its kind by the world’s second-largest cryptocurrency exchange by trading volume, invites the crypto community to meet former WSOT legends and unlock auspicious rewards on livestream. Joining the trading champions will be other crypto insiders, including co-host Gareth Jenkinson, Managing Editor at Cointelegraph for the first time.Themed WSOT Legends: What’s New, What’s Next on Bybit Livestream, viewers can tune in for insights from iconic crypto traders from the past WSOT and try their luck in a live giveaway of 750 CATI and 350 USDT in airdrops and red packets. Streaming live on Sep. 27 at 8AM UTC, the event will feature industry insiders and master traders and official Top Captains in WSOT 2023. The session is guaranteed to be lively with speakers celebrating past victories and embracing new possibilities. The champions will review their 2023 performances, their first-hand experience with formulating winning strategies, summoning and maintaining powerful squads in WSOT, delving into new trends such as the convergence of centralized and decentralized exchanges in Web3, and the exploring newly added Web3 segment in the 2024 competition. Featured Speakers:#Bybit / #TheCryptoArkAbout BybitBybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 50 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle (NYSE:ORCL) Red Bull Racing team.For more details about Bybit, users can visit Bybit Press For media inquiries, users can contact: [email protected] more information, users can visit: https://www.bybit.comFor updates, users can follow: Bybit’s Communities and Social MediaContactHead of PRTony [email protected] article was originally published on Chainwire More

SphereX is excited to announce the official launch of its mainnet, marking a key milestone in decentralized finance (DeFi). Powered by zkLink Nova’s Layer-2 scaling technology, the SphereX mainnet offers a faster, more efficient trading experience with lower fees and greater scalability. This launch sets the stage for SphereX to further its mission of democratizing finance and making trading more accessible to users globally.zkLink Nova: Elevating the SphereX ExperienceBy integrating zkLink Nova’s Layer-2 solution, SphereX aims to ensure lower gas fees, enable more frequent trades, and allow for higher trading volumes and seamless scalability. As the platform expands, zkLink Nova aims to guarantee the secure and scalable performance necessary for a growing user base.Aspecta’s BuildKey program represents a forward-thinking approach to rewarding active engagement, further enhancing the SphereX experience by offering new ways for users to interact and try to earn within the platform.Looking Ahead: The Future of DeFi with zkLink Nova and AspectaThe SphereX mainnet launch, alongside the collaborations with zkLink Nova and Aspecta, represents the beginning of a new journey. As SphereX continues to evolve, it remains committed to driving innovation and delivering new opportunities to its growing user base. SphereX’s collaborations with zkLink Nova, focused on scalability and security, and Aspecta, aimed at enhancing user engagement, are designed to support the platform’s developments in the future of decentralized trading.About SphereXSphereX is a cutting-edge decentralized exchange (DEX) designed to make crypto trading accessible, secure, and user-friendly for everyone. By prioritizing decentralization, SphereX ensures that users have full control over their assets with transparent and low-cost transactions. Committed to fostering a welcoming and inclusive community, SphereX embodies the spirit of Robin Hood, providing financial opportunities for all.Website | X | Discord | TelegramContactLynn [email protected] article was originally published on Chainwire More

Broader risk sentiment also deteriorated as Wall Street indexes retreated from record highs, although Asian markets were much more upbeat following stimulus measures in China. Bitcoin fell 1.2% to $63,440.2 by 01:07 ET (05:07 GMT). The world’s largest cryptocurrency pulled back from near levels that traders expect to spark strong near-term gains.A report from Coindesk said $65,000 was being pegged as a major resistance level, given that Bitcoin had not traded above the level since early-August.The token has struggled to make any sort of price headway since hitting a record high in March, and has traded in a $50,000 to $60,000 price range for most of the year. Market sentiment was also somewhat spooked by reports showing that a 13-year-old Bitcoin wallet, with holdings worth about $3 million, had reawakened after years of dormancy and mobilized its tokens onto an exchange. The expiry of contracts on Bitcoin and Ether worth several billions is set for Friday, and is also expected to spur some volatility in crypto markets. Focus is also on the potential upcoming approval of options linked to BlackRock’s iShares Bitcoin Trust (NASDAQ:IBIT) by the Securities and Exchange Commission. The approval is expected to attract more institutional capital into crypto. A rebound in the dollar pressured crypto markets, as the greenback rebounded sharply from an over one-year low on Wednesday. Strength in the dollar came amid some uncertainty over just how much further the Federal Reserve will cut interest rates in the coming months, after a bumper 50 basis point cut last week.Several Fed officials said this week that they supported last week’s cut, but were uncertain over the pace of future easing. Chair Jerome Powell is set to offer more cues on that front later on Thursday.Key U.S. economic readings are also on tap, with a revised reading on second-quarter gross domestic product data and weekly jobless claims due later on Thursday.PCE price index data- the Fed’s preferred inflation gauge- is due on Friday.Broader crypto prices were mostly subdued, with major altcoins tracking declines in Bitcoin.World no.2 crypto Ether fell 0.8% to $2,604.67, while XRP, SOL, ADA and MATIC moved in a flat-to-low range.Among memecoins, DOGE lost 0.3% . More

Specifically, Brandt’s attention has been drawn to the controversy surrounding a possible bull flag forming on the BTC price chart. The controversy was sparked by the fact that Brandt once claimed that this pattern could not be as long as it is now on the cryptocurrency’s chart. Looking at Bitcoin’s price movement, we can see how a possible bull flag started to form in March 2024, after reaching a new all-time high, and continues to form until now, i.e., for the sixth month in a row.According to Brandt, a bull flag cannot take that long to form, as one of the disputants mentioned. Here, the trader himself entered the debate and said that it was true. However, Brandt clarifies that this formation could be a bearish channel that, once violated, could resume a longer-term bullish trend.This statement makes it irrelevant whether the formation on the Bitcoin price chart is a bullish flag or just a bearish channel where the price is going down. Success for bullish traders depends on whether BTC can overcome the upper boundary of the range it has been trading in for the past six months.Currently, this dynamic resistance is around $68,500 – less than 10% away from the current Bitcoin price.This article was originally published on U.Today More