Cryptocurrency

According to the firm, “it has not been a pretty past few months for Crypto, or for risk assets in general.”They note that Bitcoin is now down 25% from its highs, while Ethereum and Solana have fallen even more, down 45% and 40% respectively.”We are seeing Crypto underperform every major assert class with any signs of relief absent thus far,” adds the firm.They believe that “risk appetite and overall confidence is at a multi-year low,” which is reflected in investors’ reluctance to place bets on the crypto market.This lack of enthusiasm has also led to gold significantly outperforming Bitcoin since March, according to Wolfe Research.The firm stresses that its proprietary trend model, which has successfully guided investors over the past five years, turned negative on Bitcoin in April.Since then, they state it has only briefly moved to a neutral stance before reverting to bearish territory.”At the end of the day, we are objective trend followers, and thus will continue to maintain a bearish view on Crypto until trend improves,” Wolfe analysts said.Looking ahead, Wolfe Research pointed out a key price level for Bitcoin, suggesting that if the cryptocurrency falls below $50,000, the next major area of support will be around $42,000.Until the overall trend changes, Wolfe remains cautious on crypto, waiting for signs of a meaningful recovery. More

Jupiter, the leading Solana trading platform, upgrades to Edge by Chaos Labs for enhanced protocol stabilityChaos Labs, the industry leader in onchain risk management, today announced the launch of Edge, a decentralized oracle protocol, powering Jupiter, the leading perpetuals exchange on Solana. Over the past two months, Edge has already secured $30 billion in trading volume on Jupiter, establishing Chaos’ new price feed solution as a leader in the low-latency oracle category.According to the team, fragmentation of liquidity and price discovery across networks has made asset pricing increasingly complex. For leveraged markets, any pricing inaccuracy becomes a potential exploit vector. As protocols move towards trading higher leverage instruments and listing more illiquid assets, integrating a price oracle solution resilient to outliers and anomalies at such fine granularity is essential.Additionally, Chaos labs assesses that decentralized applications have traditionally relied on “messenger oracles,” a term used to describe oracle solutions that seek to outsource the responsibility of ensuring data quality to other trusted entities. The trouble with being unopinionated about the price content methodology is twofold: it absolves the oracle from accountability in the event of misprints and creates opacity around how the data is sourced and validated.In response to demand from customer protocols for an upgraded oracle solution, Chaos Labs built the Edge Oracle (NYSE:ORCL) Network for any onchain application with a market.The protocol’s design reflects the company’s central thesis that risk data and price data are inextricably linked. Edge offers a comprehensive, low-latency oracle solution, combining accurate price data with actionable market intelligence. Its advanced architecture ensures the security and efficiency of DeFi applications while providing insights into market dynamics and security risks.Edge monitors the market for specific risk signals, performs the offchain data parsing and computation, and outputs one actionable data point.Chaos Labs possesses a deep understanding of market dynamics, which has been instrumental in managing risk for top DeFi protocols. By applying their expertise to complex risk analysis to price feed products, Chaos has built an oracle network that delivers not just basic reported prices, but also various risk-related factors like volatility, liquidity, and broader market behaviors.By accounting for liquidity and volatility, Edge algorithms adjust prices to try and prevent distortions from sudden price spikes or dips, aiming to ensure more accurate and reliable price feeds that reflect real-time market conditions. This enables Edge price feeds to offer more precise and timely insights, aiming to consistently outperform traditional oracles.Price oracles typically report similar values under normal market conditions but may show significant differences during extreme events, such as sudden price spikes. Edge incorporates multiple data points and risk metrics to provide price feeds designed to remain reliable during periods of high volatility.Edge is comprised of three components:● Price: Delivers high-precision price data with an integrated risk engine powered by Chaos’ advanced outlier and anomaly detection algorithm● Risk: Automates delivery of real-time parameter adjustments onchain based on current market conditions.● Proofs: Enables the secure on-chain delivery of custom data points, including reserve attestations delivered via zero-knowledge proofs (ZKPs).This announcement follows a recent successful $55 million Series A led by Haun Ventures with participation from funds including Spartan Capital, Galaxy Ventures, F-Prime Capital, and Slow Ventures. Chaos Labs will be sharing more announcements related to Edge in the coming weeks.About Chaos Labs Chaos Labs leads the blockchain risk management industry with innovative solutions for the evolving onchain financial landscape. Chaos Labs enables protocols to verify stability across all market conditions, merging offchain observability with onchain risk parameter adjustments. Backed by leading venture capital firms, Chaos Labs continues to set new standards for security and responsiveness in onchain finance. Founded in 2021, Chaos Labs is headquartered in New York City.About JupiterJupiter is the premier trading destination on Solana, with a powerful trading suite across Jupiter Spot & Perps. Jupiter Perps is currently the #1 Oracle-based Perps Exchange, or the #3 across all PerpDEXes.ContactVP Business OperationsNetta GoldbergChaos Labsnetta@chaoslabs.xyzThis article was originally published on Chainwire More

Morph has created a true consumer layer dedicated to making blockchain applications an enduring reality for everyday usersMorph, a fully permissionless up-and-coming Layer 2 network on Ethereum, introduces its technology as the global consumer layer for driving blockchain adoption for the mass markets. In an era where blockchain’s potential has been heralded as revolutionary, the gap between its promise and mainstream adoption remains significant. While blockchain boasts decentralization, transparency, and security, only 3.9% of the global population interacts with the technology. Morph is here to change that.Blockchain development has largely focused on niche technical improvements such as transaction speeds and enhanced consensus mechanisms. However, these innovations often do little to address the needs of the average consumer. The result is an industry plagued by complexity, inaccessible to the general public. This wall of complexity won’t be breached by a single superapp; it must instead be countered with a robust, coordinated ecosystem of consumer-friendly blockchain products, such as those Morph provides.Morph invites developers, investors, and blockchain enthusiasts to be part of its vision:Morph is the global consumer layer, acting as the distribution hub for the resources builders need to launch and scale for the mass-market. It leverages a hybrid solution of ZK and Optimistic roll-up technology and a decentralized sequencer to enable limitless possibilities within mainstream audiences, making it a user-friendly option for developers who require a chain to build these types of apps. Bitget, the world’s leading cryptocurrency exchange, is an original investor in Morph that will continue to play a role amongst the other investors in shaping the Morph ecosystem.ContactM Group on Behalf of Morphmorph@mgroupsc.comThis article was originally published on Chainwire More

By simplifying the typically complex blockchain onboarding process , users can now engage with Elastos dApps without the need for crypto wallets, seed phrase management, or paying gas fees. For example, a user can log in with a Bitcoin wallet to take out a stablecoin loan using collateralized Bitcoin via Elastos’ BeL2. This funding can be used right away on the Elacity marketplace without needing ELA for gas, as those fees are covered automatically in the background. This makes the process more convenient while retaining the benefits of decentralization, including control over personal data, direct peer-to-peer interactions, and strong security and integrity.The ability to hide complexity from users is a strategic driver for Elastos. By working with Particle Network, Elastos is able to simplify the process for users to interact with decentralized applications and BTC-backed services. This complements the work it has been doing with the BeL2 protocol to keep Bitcoin secure on its main network using zero-knowledge proofs to verify transactions and transfer collateral information across chains. Pengyu Wang, Particle Network’s Founder, describes Particle Network’s effort toward simplifying the Web3 user experience as a major milestone in making Web3 experiences a part of everyday life.Elastos is a public blockchain project that integrates blockchain technology with a suite of reimagined platform components to produce a modern Internet infrastructure that provides intrinsic protection for privacy and digital asset ownership. The mission is to build accessible, open-source services for the world, so developers can build an internet where individuals own and control their data.The Elastos SmartWeb platform enables organizations to recalibrate how the Internet works for them to better control their own data. https://www.linkedin.com/company/elastosinfo/ About Particle NetworkParticle Network is addressing Web3’s fragmentation of users and liquidity through Universal Accounts. Particle’s chain abstraction is powered by a Cosmos SDK L1 blockchain enabling the experience of a single account, balance, and address that can be used across all chains, allowing users to interact with any dApp and pay gas with any token.For more information, users can go to: https://particle.network/ContactPR LeadRoger DarashahElastosroger.darashah@elastoselavation.orgThis article was originally published on Chainwire More

The first-of-its-kind DeFi liquidity protocol focusing on redefining trust and security for DeFiGranite, a groundbreaking Bitcoin DeFi liquidity protocol that empowers users with unprecedented security and control over their Bitcoin assets, today announced its launch. Incubated by Trust Machines, Granite represents a significant evolution in the DeFi landscape, setting new standards for transparency and user-centric financial services – all backed by the power of Bitcoin L2s.Granite enables BTC users to access DeFi without centralized custodians by leveraging Stacks’ recently-launched Nakamoto upgrade and sBTC Bitcoin bridge. The Nakamoto upgrade increased Stacks’ block speed 100x while maintaining its unique proof-of-transfer (PoX) consensus mechanism and Bitcoin finality. sBTC is an open-source Bitcoin bridge secured and managed by an open network of Stacks validators via a threshold signature script on the Bitcoin blockchain, allowing for the permissionless and decentralized use of BTC in DeFi. Together, these upgrades pave the way for Bitcoin DeFi.About GraniteGranite is a first-of-its kind Bitcoin DeFi liquidity protocol empowering users with unprecedented security and control over their Bitcoin assets, Granite represents the significant evolution in the DeFi landscape, with a mission of setting new standards for transparency and user-centric financial services – all backed by the power of Bitcoin L2s.Website | TwitterContactCommunications PartnerJayson Lynnjayson@trustmachines.coThis article was originally published on Chainwire More

Scaramucci teased his new book on Bitcoin as well.The latter has managed to reinvent himself as a prominent Bitcoin supporter in the corporate world during the past four years. Since August 2020, MicroStrategy has accumulated roughly $8.3 billion worth of BTC.They began buying with their free cash reserves and then started selling specially issued convertible notes to investors to raise billions of dollars to buy more BTC and allow investors capitalize on it. Basically, MicroStrategy has turned into a sort of Bitcoin ETF before the SEC granted approval to spot Bitcoin ETFs this January.Scaramucci tweeted that it is “always great to spend time with the living legend @saylor.” Scaramucci thanked Saylor for writing a foreword to his new book called “The Little Book of Bitcoin,” without revealing any details of the new product. However, there is a small “teaser” on the cover, which says: “What You Need to Know that Wall Street Has Already Figured Out.”Renowned global investor and Bitcoin supporter Dan Tapiero congratulated Scaramucci in a comment under the tweet.As reported by U.Today earlier, Scaramucci defended Michael Saylor on X in a tweet, calling the MicroStrategy founder “the best explainer of Bitcoin” in the cryptocurrency community.The firm still produces software, he said; however, the main focus is now on Bitcoin and issuing convertible notes to investors for raising more money to buy BTC.Saylor also stated that he expected Bitcoin to surge to an unbelievable high of $13 million over the next 21 years.This article was originally published on U.Today More

WOW EARN, a pioneering force in the blockchain DeFi space, is proud to announce the launch of its latest innovation—WOW ZONE. This new feature is designed to transform user engagement on the platform by introducing a wide range of tasks that allow users to earn points, which can then be exchanged for $WOW tokens. The launch of WOW ZONE marks a significant step forward in WOW EARN’s mission to create a more interactive and rewarding user experience.Introducing WOW ZONE: A New Era of User EngagementWOW ZONE is not just a task center; it’s an ecosystem within the WOW EARN platform that encourages users to explore, interact, and grow within the community. The variety of tasks available in WOW ZONE is extensive, catering to a broad spectrum of user activities. Whether a user is new to the platform or a seasoned member, WOW ZONE offers something for everyone. Tasks range from basic activities such as account registration and content sharing to more advanced actions like engaging with the community on social media and participating in platform events.Each task within WOW ZONE is thoughtfully designed to ensure it is achievable and meaningful. The goal is to create a system where users feel that their time and effort are being rewarded substantially. As users complete tasks, they earn points that can be directly converted into $WOW tokens, adding real value to their engagement with the platform.Limited-Time Double Points EventTo celebrate the launch of WOW ZONE, WOW EARN is rolling out a limited-time double points event. This event is designed to give users a significant incentive to dive into WOW ZONE and start completing tasks. For a limited period, users can earn double the usual points for each task they complete, effectively doubling the number of $WOW tokens they can acquire.This double points event is more than just a promotional offer; it’s a strategic opportunity for users to maximize their $WOW token. Early participation in WOW ZONE, especially during the double points period, could give users a significant advantage, positioning them well as $WOW tokens gain traction in the market.Building a Loyal and Active CommunityThe launch of WOW ZONE is not just about rewarding users; it’s about building a stronger, more connected community within the WOW EARN ecosystem. By offering a variety of tasks that encourage active participation, WOW ZONE fosters a sense of belonging and loyalty among users. The platform’s success is tied directly to the engagement and satisfaction of its community, and WOW ZONE is designed with this in mind.Moreover, the points earned in WOW ZONE are not just a one-time benefit. The points represent ongoing opportunities for users to engage with the platform and continue earning rewards. This continuous loop of engagement and reward helps to maintain user interest and participation over the long term, ensuring that the WOW EARN community remains vibrant and active.Executive Insight: A Vision for the FutureLooking AheadThe introduction of WOW ZONE is just one of many innovations that WOW EARN has planned for the coming months. As the platform continues to grow, users can expect to see even more features designed to enhance their experience and increase the value of their $WOW token. Future updates will include new tasks, additional reward opportunities, and further integration of WOW ZONE into the broader WOW EARN ecosystem.Additionally, WOW EARN is committed to expanding its community through strategic partnerships and collaborations. These partnerships will bring new tasks and challenges to WOW ZONE, offering users even more ways to earn points and engage with the platform. By continuously evolving and adding value, WOW EARN aims to become the go-to DeFi platform for users looking to participate in a vibrant, rewarding ecosystem.Call to Action: Don’t Miss Out on the Double Points EventWith the launch of WOW ZONE and the double points event now live, the Wow team invites users to join the WOW EARN community. Whether a user is looking to increase their $WOW holdings, engage with like-minded individuals, or simply explore what WOW EARN has to offer, WOW ZONE provides the perfect entry point.Users are encouraged to take full advantage of the double points event before it ends. By completing tasks in WOW ZONE during this period, users have the chance to maximize their rewards.For more information on how to participate in WOW ZONE and details on the double points event, users can visit https://wowzone.wowearn.com.About WOW EARNAs a leading innovator in the blockchain space, WOW EARN is dedicated to connecting users with decentralized opportunities in mining, earning, and trading. Following its strategic move to Layer 1 and a successful $30 million Series A funding round, WOW EARN is well-positioned to drive significant advancements in the DeFi ecosystem.For further information, visit WOW EARN’s: Official Website | Twitter | Telegram | Discord | MediumContactCMOYARAWOW EARN TECHNOLOGYYARA@WOWEARN.COMThis article was originally published on Chainwire More

Get ready for an eventful day of celebration as MEMECON and DCENTRAL come together to host the memecoin event of the year! On September 21st, from 12:00 PM to 5:00 PM, the Grand Ballroom at the JW Marriott Singapore South Beach will be transformed into the ultimate hub for memecoin enthusiasts, and it takes place just a 5-minute walk from this year’s Solana Breakpoint.Used for cultural, social and political expression, memes form online communities when they are created and shared. Memes are a cultural phenomenon that have transcended humour to become a digital currency of the internet.Memecoins have gained attention in the crypto space over the past year, becoming a catalyst for blockchain networks to reach and onboard broader audiences. Memes and memecoins have continued to grow in prominence, and chains such as Solana, Base, TON, and Tron have shown interest in participating in this trend to expand their reach. For those that are curious and wanting to know how, why, and what’s the latest being built across the memecoin space in 2024, MEMECON x DCENTRAL Singapore is the place to find out. Participants can join industry leaders and community members as they dive deep into the world of memecoins.In a week filled with major events like TOKEN2049, Solana Breakpoint, ETHGlobal, and F1, MEMECON x DCENTRAL Singapore offers something unique for all audiences. This is the chance for attendees to meet their favorite developers, degen and memecoin communities all under one roof. Whether one is looking to participate, sponsor, or simply immerse themselves in memecoin culture, this event is the place to be.Location: JW Marriott Grand Ballroom, SingaporeFor more information and to secure a spot, readers can RSVP here: https://lu.ma/43isr86yReaders can follow on X:ContactEsther NgDCENTRALesther@dcentral.coThis article was originally published on Chainwire More