Cryptocurrency

CARV is launching a $50 million accelerator to incubate projects capable of driving the mass adoption of its eponymous data protocol.With backing from top blockchain VC funds, including HashKey Capital and Consensys, the modular data layer for gaming and AI has pledged to support innovators, particularly those actively building the future of decentralized data.Backed by CARV Protocol, the accelerator’s mission is to enable a dynamic, decentralized data infrastructure that empowers users to control and monetize their data. It will provide comprehensive support to startups, including funding and investment backed by leading industry funds, go-to-market and growth support, expert tokenomics advisory, infrastructure and tooling tech advice, and access to the company’s industry network and community.Current industry investors set to play a role in the accelerator’s vertical-specific programs include MARBLEX, the web3 arm of South Korean mobile game developer Netmarble; Intella X, the Web3 Publishing arm of South Korea’s Global Game Developer and Publisher NEOWIZ, the crowdfunding platform Alphastarter; Doublejump.tokyo, the developer behind the Oasys blockchain; various business angels; game publisher Xterio; Solana, NEAR and Ronin networks. Additional partners such as Arweave, Litentry, the Linea Ecosystem Investment Alliance (LEIA), and Alibaba (NYSE:BABA) Cloud will also promote the accelerator. Linea, the secure zkEVM L2 that empowers dapps to thrive, will further market a web3 gaming offer later this year that will connect to the accelerator. The first project incubated under CARV Labs, BANANA, an idle game built on the TON ecosystem, attracted over 8M users within just 4 weeks with more than 1M daily active users, 1.8M social accounts connected, and 73M social tasks completed. The rapid success of BANANA underscores CARV Labs’ effectiveness in fostering innovation and driving user engagement in decentralized applications. This milestone showcases the potential for future projects and positions CARV Labs as a leader in the space.The groundswell of applications building on the protocol has enabled CARV to generate over $5 million in revenue YTD, with more games and projects in the pipeline. Last month, it announced the launch of its Alphanet, run by the 40K verifier nodes distributed to its community worth $35M. The milestone was considered an important one as CARV evolves into a truly decentralized and scalable protocol layer. Alphanet’s arrival followed April’s Series A funding round, led by Tribe Capital and IOSG Ventures, which attracted $10 million. Gaming, AI, and data infrastructure projects interested in finding out more about the new accelerator are advised to reach out via CARV’s official Discord channel.About CARVCARV is building the largest modular Identity and Data Layer (IDL) for gaming, AI, and beyond, integrating over 900 games and AI companies, representing more than 30% of all Web3 games, and serving 9.5M+ registered players with 1.3M+ daily active users and 2.8M unique on-chain CARV ID holders. Ranking among the top three globally with 2.1M+ average daily unique active wallets across 40+ chains, CARV has raised $50M in total funding from top-tier investors like Tribe Capital, Temasek Vertex (NASDAQ:VRTX), HashKey Capital, Animoca Brands, and ConsenSys, along with major gaming studios and ecosystems such as MARBLEX (Netmarble) and the Sandbox. The team comprises industry veterans from Coinbase (NASDAQ:COIN), Binance, Google (NASDAQ:GOOGL), and Electronic Arts (NASDAQ:EA), all dedicated to revolutionizing data usage in gaming, AI, and beyond.About HashKey CapitalHashKey Capital is a global digital asset and blockchain leader helping institutions, founders and talents advance the blockchain industry. As one of the largest crypto fund managers and being the earliest corporate investor in Ethereum, HashKey Capital has managed over US$1 billion in client assets since its inception. Leveraging its unparalleled expertise, HashKey Capital’s venture investments team oversees a diversified portfolio of over 600 pioneering projects across institutional services, infrastructure, data, AI, consumer services/ technology and more.About ConsensysConsensys is the leading blockchain and web3 software company. Since 2014, Consensys has been at the forefront of innovation, pioneering technological developments within the web3 ecosystem. Through our product suite, including the MetaMask platform, Infura, Linea, Diligence, and our NFT toolkit Phosphor, we have become the trusted collaborator for users, creators, and developers on their path to build and belong in the world they want to see. Whether building a dapp, an NFT collection, a portfolio, or a better future, the instinct to build is universal. Consensys inspires and champions the builder instinct in everyone by making web3 universally easy to use and develop on. To explore our products and solutions, visit https://consensys.io/.Website | Discord | X | Telegram | MediumContactCOOVictor Y.vito@carv.ioThis article was originally published on Chainwire More

Strength in the dollar, following a stronger consumer price index inflation reading- also limited overall gains in cryptocurrencies, as did the prospect of a smaller interest rate cut by the Federal Reserve next week.Sentiment towards crypto was also dented by a heated presidential debate on late-Tuesday, where Vice President Kamala Harris was seen gaining an edge over former President and pro-crypto candidate Donald Trump.Bitcoin rose 2.8% to $58,115.9 by 01:16 ET (05:16 GMT). Gains in Bitcoin came tracking an overnight surge in technology stocks, as NVIDIA Corporation (NASDAQ:NVDA) CEO Jensen Huang offered some positive comments on artificial intelligence demand.But the world’s biggest cryptocurrency still remained entrenched in a $50,000 to $60,000 trading range seen through most of the year. Bitcoin has also struggled to break substantially above $60,000, amid a dearth of positive cues for crypto. The token was nursing steep losses from the prior week, amid a broader rout in risk-driven markets. Bets on a Kamala Harris presidency rose after Tuesday’s debate, where she was seen consistently putting Trump on the defensive over several key issues, ranging from abortion rights to international relations. Online prediction market PredictIt showed odds for a Harris victory rising to 57 cents from 53 cents on a payout of $1, while Trump’s odds sank to 47 cents from 52 cents. Of the two candidates, only Trump has openly declared support for the crypto industry, although he has shied away from mentioning the industry in more mainstream events, such as the Republican national convention, or even the presidential debate. Harris, on the other hand, is expected to continue the Biden administration’s scrutiny of the sector over its alleged tenacity for fraud. This stance saw the Securities and Exchange Commission enact a series of high-profile crackdowns against crypto over the past two years.Broader cryptocurrency prices tracked gains in Bitcoin, with world no.2 crypto Ether up 1.8% at $2,368.10.SOL, XRP, ADA and MATIC drifted higher, with ADA leading gains in the pack with a 5.1% increase. Among meme tokens, DOGE rose 2.9%. A stronger-than-expected reading on core CPI saw traders pricing in a greater possibility the Fed will cut interest rates by 25 basis points next week, instead of a bigger 50 bps cut.But before that, producer price index data due later on Thursday is set to offer more cues on U.S. inflation. More

This sentiment is reflected in the declining exchange-related on-chain volumes, indicating a cautious approach among market participants.In a recent tweet, Glassnode noted that Bitcoin investors remain unconvinced in the short term, as exchange-related on-chain volumes have begun to languish.Meanwhile, centralized exchanges continue to be the centerpiece venue for speculation activity and price discovery. Thus, an evaluation of on-chain volumes aggregated across these venues can be used to gauge investor activity and appetite for speculation.According to Glassnode, an analysis of the 30-day/365-day momentum crossover for exchange-related inflows and outflows indicated that the monthly average volume has fallen significantly below the yearly. This highlights a drop in investor demand and less trading by speculators in the current BTC price range.However, settlement volume is beginning to fall toward its yearly average, suggesting a marked cooling off of network usage and throughput. Overall, this remains a net negative observation.The CVD indicator, which reflects the current net balance of market buying and selling pressure on the spot market, shows an increase in investor sell pressure over the last 90 days, adding to the downward price trend.Despite the bearishness in BTC metrics, Glassnode noted that the Bitcoin Hash Rate is rapidly approaching new ATHs as the competitiveness of the mining scene and their conviction in the Bitcoin network grows.At the time of writing, BTC was down 1.21% in the last 24 hours to $56,119.This article was originally published on U.Today More

For context, Bitcoin miners include individuals or entities that utilize computational power to validate transactions on the Bitcoin blockchain. They are rewarded with newly minted Bitcoin. Therefore, when miners sell their earned assets, it indicates a need to cover operational costs, such as equipment expenses and electricity costs.According to Mempool, miners’ current difficulty adjustment level came at a block height of 860,832. This took the ATH from 90.67 trillion set earlier in July to a new peak of 92.67 trillion. Meanwhile, Bitcoin miners’ revenue dropped after the April 20 halving event, which reduced rewards from 6.25 BTC to 3.125 BTC. This revenue dropped from $72.4 million to $25 million and $30 million, according to a seven-day moving average of 550.25 EH/s, as of the end of June.The increasing mining cost and dwindling revenue have pushed some unable-to-compare miners out of the market. As reported by U.Today, Bitcoin’s price has to stay between $65,000 and $70,000 for mining to remain economically sustainable.On the other hand, the effect of mining difficulty on the BTC price could be positive, as it signals that the network is more secure and boosts investors’ confidence.At the time of writing, data shows Bitcoin traded for $55,689.03, a 2.13% drop in price in the last 24 hours. The Bitcoin community’s bullish sentiments have also dropped to 21% out of 51,341 people sampled.This article was originally published on U.Today More

This article was originally published on U.Today More

The 50-day and 200-day moving averages of Bitcoin are progressively convergent, as the chart illustrates, which raises questions about the asset’s potential price movements. Because it typically indicates impending downward pressure, a death cross frequently causes traders to exercise increased caution. This pattern indicates that Bitcoin may be about to enter a prolonged bear market. Nevertheless, it is important to consider the larger market environment because death crosses do not always result in appreciable price drops. As of right now, the price of Bitcoin is hovering around $56,000. In the near future, it will be important to monitor a few key price levels. To prevent additional losses, the asset needs to maintain the $58,000 support level as the first target. This is the next major support level, and if BTC breaks below it, it will find stability again at $54,000. For a more bullish trajectory to continue, Bitcoin must rise above the resistance at $60,000. On-chain data also points to conflicting signals. On-chain metrics like net network growth and large transactions remain neutral, indicating that there is not a clear trend in Bitcoin’s current state. In contrast, exchange signals are primarily neutral to bullish. The fact that investors are not currently making a strong investment in the asset, as indicated by the exchange’s negative netflows, may indicate that the market is feeling cautious. With neutral on-chain data and the potential for a death cross, Bitcoin’s immediate price action is unpredictable. Although there may be a short-term downside risk associated with the death cross, Bitcoin has a history of resilience and has recovered from similar circumstances in the past.This article was originally published on U.Today More

Boba Network, a leading multichain layer-2 scaling solution, integrates Lynx, a cutting-edge Perpetuals Decentralized Exchange (DEX), on Boba Network Ethereum. This partnership marks progress in the decentralized finance (DeFi) landscape, introducing advanced trading solutions and cross-chain functionality to an expanding ecosystem.In celebration of Lynx’s launch on Boba-Ethereum, Lynx is hosting a trading competition featuring its gasless Perpetuals DEX with the potential for up to 100x leverage. Participants can utilize $BOBA and $USDC as collateral to compete in weekly rounds for a prize pool of 5,000 $BOBA. This competition highlights the advanced capabilities of Lynx on the Boba platform and engages the community in showcasing their trading skills, with new opportunities to win starting each Monday.Lynx features an intent-based order system that removes gas costs, enabling users to submit signed messages that express their trading intentions. These are processed onchain by a network of bots. Additionally, Lynx offers a white-label solution that allows protocols to integrate its high-leverage trading platform into their systems effortlessly, with Lynx overseeing all technical support and maintenance.About LynxLynx is a gasless Perpetuals DEX for trading crypto, forex, and commodity perpetuals using any token as collateral. By eliminating the price volatility risk from the collateral asset, Lynx empowers traders to collateralize any token—from governance tokens to meme coins—as effectively as a stablecoin. Currently, Lynx supports over 23 unique collateral options across 8 chains and is actively onboarding partners to bring new utility to all tokens in the crypto space.About Boba NetworkBoba Network is an optimistic-based multichain layer-2 scaling solution that aims to unlock the potential of roll-up technology and enable more flexible blockchain communication. The protocol is fully compatible with EVM-based tools and has already deployed multichain support for Ethereum, and BNB, supporting lightning-fast transactions and fees anywhere from 40-100X less than the respective layer-1. Boba Network is powered by HybridCompute™ technology that brings the power of Web2 on-chain, with smarter smart contracts that allow visionary developers to leverage off-chain compute and real-world data to build hybrid dapps that connect people to the future of blockchain applications.ContactMarketing ManagerGian KimEnya Labsmarketing@enya.aiThis article was originally published on Chainwire More

dVIN Labs, the development team behind the dVIN protocol, today announced the appointment of Real Vision Co-Founder & CEO and long-time wine enthusiast, Raoul Pal, to its board of directors.Garrett will be hosting an AMA on X (formerly Twitter) Spaces with Pal on September 16th, 2024 at 9AM ET focused on the tokenization of wine bottles and their global wine club. About Raoul PalRaoul Pal is the co-founder and CEO of Real Vision, the world’s preeminent financial media platform and Global Macro Investor, an advisory publication.Raoul retired from fund management in 2004 and started The Global Macro Investor in January 2005 where he was one of the relatively small number of investors to predict the mortgage crisis of 2008-2009. Previously, he was a co-head of hedge fund sales in equities and equity derivatives at Goldman Sachs in London. Raoul is also the CEO and co-founder of Exponential Age Asset Management founded in 2021. Raoul is currently a board member of the Sui Foundation. About dVIN LabsdVIN Labs is the development team behind the dVIN protocol which is designed to leverage a combination of data, DePIN and tokenization to bring wine, a $1T real world asset class, on-chain. The dVIN Protocol leverages blockchain technology to both allow wine enthusiasts to monetize their data and be rewarded for their wine activity, purchases, and loyalty. While winemakers simultaneously incentivize these wine lovers to share consumption data and personal data in order to drive deeper consumer relationships, making their businesses more responsive, efficient and potentially profitable. To learn more about dVIN Labs and the dVIN Protocol, please visit: https://dvinlabs.com MEDIA CONTACT M Group Strategic Communications for dVIN Labs: dvin@mgroupsc.comContactKevinkmcgrath@mgroupsc.comThis article was originally published on Chainwire More