Cryptocurrency

Kwenta, the leading onchain perpetuals exchange on the Optimism network, has partnered with Perennial to launch a new joint product and incentive program on the Arbitrum network. This initiative, backed by a substantial 1.9 million ARB grant, aims to attract new users and liquidity providers to Arbitrum and spark renewed interest in onchain perpetuals trading.Kwenta and Perennial’s Expansion StrategyKwenta, known for being a UX layer for perps trading on Optimism and Base, is expanding its reach to Arbitrum in a bid to build a comprehensive marketplace for onchain perpetuals. This move is facilitated by Perennial V2, an Arbitrum-native protocol designed to be a hyper-efficient liquidity layer for derivatives trading. The joint initiative is designed to revitalize the popular AMM model for leveraged trading by providing traders with a powerful, familiar interface to interact with smart contract liquidity.Perennial’s vision is to create a single, global liquidity layer where all markets, all chains, and all liquidity converge into one decentralized nexus. By integrating Kwenta’s premier trading interface with Perennial’s advanced perps infrastructure, users on Arbitrum will benefit from an optimized trading experience. Trade orders on selected Kwenta markets will be seamlessly routed through Perennial, ensuring efficiency and reliability. This collaboration combines Kwenta’s top-tier trading platform with Perennial’s hyper-efficient trading infrastructure, delivering the best possible experience for traders.Incentive Program DetailsThe newly launched incentive program focuses on two main areas:Team InsightsThe introduction of this incentive program represents a crucial step in the evolution of Kwenta and Perennial. With Kwenta concentrating on the UX and frontend aspects of trading and Perennial focusing on providing a robust liquidity layer, the collaboration is set to offer a decentralized trading experience that is both highly efficient and user-friendly. This model of specialization showcases how projects can synergize to deliver superior services in the DeFi space. The combined expertise of Kwenta and Perennial promises to elevate the standard of onchain perpetuals trading, making it more accessible and appealing to a wider audience.For more information, users can visit Kwenta’s website and Perennial’s website. Users can also read Perennial’s launch announcement for additional details.About Kwenta and PerennialKwenta: As a leading platform for derivatives trading, Kwenta has facilitated over $50 billion in volume on Optimism and Base. The platform is expanding to Arbitrum to launch its perpetuals marketplace, a single app to compare and trade on multiple onchain venues.Perennial: Perennial is a pioneering DeFi liquidity layer that offers hyper-efficient infrastructure for a variety of trading applications. Its modular and efficient design supports customized markets, leveraging fast execution and capital efficiency to power DeFi apps.ContactsBurt RockKwentaburt@kwenta.ioLucas TerryPerenniallucas@perennial.financeThis article was originally published on Chainwire More

The world’s largest cryptocurrency rose 5% in the past 24 hours to $67,295.0 by 09:06 ET (13:06 GMT), recovering from lows of around $63,000 hit earlier in the week.Bitcoin was caught up in a wave of selling pressure across global financial markets, which saw investors dump risk-driven assets. This risk-off trend was particularly damaging to crypto, given the sector’s highly speculative nature.But this risk-off trend appeared to easing somewhat on Friday. Some analysts are growing increasingly optimistic about Bitcoin’s price outlook following a rebound toward a critical resistance level earlier this week.After testing the 50-day simple moving average support near $63,500, bitcoin has surged past $67,000 and is now approaching a resistance line defined by the trendline connecting the March and April highs. This descending trendline has been a significant hurdle, capping gains on Monday and previously in May, making it a key level for bulls to overcome.Analysts suggest that a breakthrough may be imminent.Two potential catalysts could influence this move. First, the U.S. core personal consumption expenditures (PCE) price index, the Federal Reserve’s preferred inflation measure, eased slightly from a year ago in June, helping pave the way for a widely anticipated September interest rate cut. Second, Republican presidential candidate Donald Trump’s upcoming speech at the Bitcoin conference in Nashville could play a significant role.”Incoming PCE data could be the final nail in the coffin for high interest rates and lead to imminent rate cut announcements, while Trump’s speech at the Bitcoin conference could start a stronger rally if rumors of an announcement of a national strategic reserve for BTC come true,” analysts at digital assets advisory firm BRN, said in a note seen by CoinDesk.These developments could propel bitcoin to new highs, analysts added.The PCE price index rose by 0.1% in June and increased 2.5% year-over-year, according to the Commerce Department’s report on Friday. This aligns with Dow Jones estimates. In May, the year-over-year increase was 2.6%, with the monthly measure remaining unchanged.Trump is set to appear as a keynote speaker at the Bitcoin Conference in Nashville on Saturday, with his appearance coming as the former president struck a largely pro-crypto tone in recent campaigning efforts. Crypto traders will be largely watching to see if he maintains this rhetoric during the address, and whether he will provide plans for more regulatory clarity in the U.S. crypto industry. Speculation over a Trump presidency had afforded Bitcoin some strength last week, especially as the Republican candidate was seen leading in approvals after a failed assassination attempt. But Democratic frontrunner Kamala Harris, who was endorsed by President Joe Biden after he dropped out of the election race, was seen narrowing the gap with Trump, polls showed this week. A Harris presidency is expected to potentially continue the government’s regulatory crackdown on crypto, which had rattled the industry over the past two years. Marathon Digital Holdings Inc (NASDAQ:MARA), one of the biggest Bitcoin miners in the U.S., said on Thursday it had purchased $100 million of Bitcoin off the open market, and that it held over 20,000 Bitcoin tokens on its balance sheet.The miner also vowed to retain all of its mined Bitcoin, and that it will also buy more tokens from the open market.Among broader crypto markets, altcoin prices tracked a recovery in Bitcoin, with traders also awaiting key U.S. inflation data and a Federal Reserve meeting in the coming days. World no.2 token Ether rose 3% to $3,238.67, seeing its first positive session since the launch of spot exchange-traded funds in U.S. markets this week.ADA and SOL rose 5% and 6.6%, respectively, while XRP dropped 3.3%. Among meme tokens, DOGE added 5% while Investing.com Shiba Inu Index rose 3.2%  More

Despite the stagnation, Bitcoin’s price remains at $67,000, a recovery from last week’s dip into the $50,000 range, but the all-time high above $74,000 still seems so near and yet so far.Such market conditions often lead to anxiety among investors, as fear, uncertainty, doubt and greed dominate sentiment. These emotions can lead to painful decisions and mistakes.However, for Samson Mow, a well-known figure in the cryptocurrency space, these fluctuations are not cause for concern. Mow, famous for his bold predictions, including a forecast of reaching $1 million BTC, maintains an optimistic outlook.This cycle, Mow suggests, is a fundamental characteristic of Bitcoin’s market dynamics.Whether this is really how the bitcoin price works remains to be proven, but anyone who has spent enough time in the crypto market understands it’s hard to argue with such an explanation. Especially the “melting faces” part.This article was originally published on U.Today More

He did not provide any explanation for this unexpected decision, leaving the crypto community on X puzzled. Heated discussions have been rising about what made Elon Musk order the removal of the hashmoji of the world’s flagship cryptocurrency, which was added by the Twitter cofounder and its former CEO Bitcoiner Jack Dorsey.Several Bitcoin influencers have commented on that removal, including JAN3 boss Samson Mow, an early Bitcoin adopter, BTC millionaire Jeremy Davinci and trader @TheMoonCarl.It seems, however, that it is not only Bitcoin but hashmojis for all other cryptos have been removed from X.In February 2021, the company announced purchasing $1.5 billion in Bitcoin. After that, Musk announced that Tesla started to accept Bitcoin payments for the electric automobiles it produces. This pushed the world’s largest crypto to a historic price peak above the $60,000 level in April.However, in the same month, Musk suddenly announced that Tesla stopped accepting Bitcoin over environmental concerns about proof-of-work-based BTC mining.Tesla continued holding Bitcoin on its balance sheet, though, but then it began to gradually sell its BTC stash. The aforementioned $184 million worth of Bitcoin is all that is left of it by now.While one may think that Elon Musk could perhaps be clearing space and removing the hashmojis of Bitcoin and other cryptocurrencies, he has made it clear several times that none of his companies, including X, are going to launch their own cryptocurrency.This article was originally published on U.Today More

Recently, the “2024 GIPR2” voting event Dapp of MEET48, a metaverse virtual community based on an AI and WEB3.0 diversified UGC entertainment content ecosystem, has rapidly risen in the rankings on DappBay and DappRadar, attracting widespread attention.The MEET48 “2024 GIPR2” voting event (https://gipr.meet48.xyz/#/gipr) is divided into the Idol Group, Sprout Group, and Virtual Idol Group. Users can log into the MEET48 official website and app, complete tasks and watch contestant videos to earn points, mint NFTs, and use points to buy voting tickets to vote for idols. The final voting rankings will determine the metaverse and overseas offline performance resources that participants will receive. Users who participate in voting interactions will also be whitelisted for future airdrop eligibility.As of 12PM on July 26, 2024, the MEET48 event Dapp has become the number one social category Dapp on DappBay and ranked fifth in the social category on DappRadar.According to DappRadar data, MEET48’s event Dapp recorded 25.25 million on-chain transactions in the past 30 days, with 669.98K active user addresses (UAW). In DappBay’s statistics, MEET48’s event Dapp also performed excellently, with 25.62 million on-chain transactions and 647K users in the past 30 days.Currently, the MEET48 “2024 GIPR2” voting event Dapp has over 3 million registered users, and the total accumulated votes in the event have exceeded 10 million. These users, who joined through the airdrop, will eventually be integrated into MEET48’s intelligent social metaverse community through the MEET48 content ecosystem matrix products.With the final results of the “2024 GIPR2” voting airdrop event set to be announced on August 3rd, MEET48’s popularity is expected to continue rising. For those who have not yet participated, there is still an opportunity to complete tasks and earn points to join the airdrop event:About MEET48MEET48 currently boasts a technical and R&D team of 500 people, covering regional operations in Singapore, Hong Kong, Taipei, Tokyo, Seoul, and Dubai. This makes it one of the largest Web3 application project teams globally. MEET48 aims to achieve the mass adoption of Web3 technology by focusing on an AI UGC content ecosystem centered on AIGC (Animation, IDOL, GAME, and Comics) Gen Z trend entertainment content and a graphical, intelligent metaverse social base.For more information users can visit MEET48’s: Official Website | Twitter (X) | Telegram | DiscordContactMarketing DirectorSiyu YangMEET48siyu@meet48.comThis article was originally published on Chainwire More

Haven1, the REKT-resistant EVM Layer 1 blockchain, is pleased to announce a new strategic partnership with Blockdaemon, the leading institutional-grade blockchain infrastructure company. Blockdaemon will become a part of Haven1’s validator committee to secure the Haven1 network. This partnership significantly bolsters the security, operational efficiency, and overall resilience, while ensuring decentralization, as no single entity can control the Haven1 network.Haven1’s Proof-of-Authority (PoA) consensus mechanism is a key differentiator for the blockchain, prioritizing security and efficiency over energy-intensive Proof-of-Work (PoW) mechanisms, and the faceless Proof-of-Stake (PoS) consensus mechanisms. This consensus mechanism relies on a select group of seven highly trusted validators, making the reputation and reliability of these partners crucial for the network’s integrity. “We are excited to partner with Blockdaemon, a recognized leader in blockchain infrastructure,” said Jeff Owens, Co-Founder of Haven1. “Their expertise in node operations and commitment to security align perfectly with our vision for a robust and reliable Web3 ecosystem. This partnership is a testament to our dedication to building a blockchain that prioritizes both innovation and user protection.”“We are proud to join Haven1’s validator committee. Our advanced infrastructure and commitment to security will enhance Haven1’s network, ensuring its reliability and resilience. This collaboration underscores our shared dedication to building a secure and efficient blockchain ecosystem,” said Andrew Vranjes, Head of International and VP at Blockdaemon. Blockdaemon’s participation as a validator will bring significant benefits to the Haven1 network:For more information, please visit www.haven1.org, or contact: marketing@haven1.orgAbout Haven1Haven1 is the REKT-resistant EVM Layer 1 blockchain, engineered to address the critical challenges of security and liquidity in Web3. Through innovative solutions like the Haven1 Passport (POI), 2FA Wallet-Shield, AI-powered network monitoring, and a robust liquidity aggregation system, Haven1 is building a ‘SafeHaven’ ecosystem for everything onchain in Web3.Users can follow and engage with Haven1 on Haven1’s social media and community channels including:About BlockdaemonBlockdaemon powers the blockchain economy with its suite of industry-leading infrastructure solutions. We are a globally established, ISO-27001 certified partner with extensive protocol coverage, offering technical depth, industry-leading SLAs, 70+ global points of presence through 10+ cloud and bare metal providers, and 24/7 support for an unmatched institutional-grade experience. We provide integrated business solutions to exchanges, custodians, crypto platforms, financial institutions, and developers using our end-to-end suite of blockchain tools, including dedicated nodes, APIs, staking, liquid staking, MPC tech, and more. Blockdaemon provides its customers with the confidence to quickly and easily scale without compromising security or compliance. For more information visit: www.blockdaemon.comContactMarketingHaven1marketing@haven1.orgThis article was originally published on Chainwire More

The world’s largest crypto asset climbed more than 4.7% in the past 24 hours, trading at $67,346.0 as of 09:49 GMT.The upsurge helped BTC recover a part of its losses from earlier this week as crypto markets focused on Republican presidential nominee Donald Trump’s speech at the Bitcoin Conference this weekend. The positive sentiment spilled into crypto-related equities, with shares of MicroStrategy (MSTR) and MARA (MARA) rising more than 5% and 6%, respectively.Likewise, Riot Platforms (NASDAQ:RIOT) added 6%, Coinbase (NASDAQ:COIN) climbed 5%, and Cipher Mining (NASDAQ:CIFR) jumped 7%. Former President Trump is scheduled to deliver a keynote speech at the Bitcoin Conference in Nashville on Saturday. Recently, Trump has adopted a pro-crypto stance in his campaign efforts, and traders will be keen to see if he continues this rhetoric during his address. They are also hoping he will outline plans for clearer regulations in the U.S. crypto industry.Bitcoin saw a boost last week amid speculation about a potential Trump presidency, especially after he gained approval ratings following a failed assassination attempt. In addition, expectations for a Federal Reserve rate cut in September are growing. But for the most part, the premier cryptocurrency was facing significant selling pressure in recent weeks as investors moved away from risk-driven assets across global financial markets. This trend hit the highly speculative crypto sector particularly hard. The market pressure was partly driven by the ongoing repayments to creditors of Mt. Gox, a former cryptocurrency exchange that fell into bankruptcy nearly a decade ago. More

One of the most popular tap-to-play games on Telegram, Dotcoin, is launching on the Venom blockchain. Dotcoin, with over 20 million active users, finds the highly scalable Venom Network an ideal host for the game.Released earlier this year on the Telegram messaging app, Dotcoin allows players to tap-to-earn in-game currency through a simple interface featuring a single dot. The game’s interface is simple, featuring a single dot on the screen, which players can tap to earn the in-game currency. Recently, a number of Telegram-based games have exploded in popularity. Users have flocked to these games largely due to their simplicity and the opportunity to earn.Dotcoin boasts over 3.5 million daily users and over 20 million active users. However, given the massive user bases that Dotcoin and other games have acquired, hosting them on a blockchain network can prove a challenge. As a result, Dotcoin has decided to launch on Venom, a fast, infinitely scalable network designed to be able to adapt to and host high-load applications and platforms without it affecting network speed or security.Dotcoin is free to play and simple, making it one of the most accessible entry points for newcomers curious about the world of cryptocurrency and web3. Players are able to get started after just a few clicks and start accumulating in-game currency. Now, with the game being hosted on Venom, they will be able to explore the wide world of opportunities in the Venom ecosystem, including exchanges, NFT marketplaces, multi-network bridges, other games and much more.Dotcoin includes a referral program that allows players to earn more via boosts and other bonuses. Following its launch on Venom, Dotcoin will be releasing its native DTC token on the blockchain.With the addition of Dotcoin, the Venom blockchain will be fully integrated into the Dot gaming ecosystem, incorporating payment solutions and other blockchain mechanics. The team believes that given the game’s popularity and growing user base, this integration can increase network activity two to threefold. A marketplace of virtual products and applications tied to the game will also be established in the Venom ecosystem.Venom is a unique layer-0 and layer-1 network capable of seamlessly communicating and integrating with other independent networks thanks to Mesh technology. Venom consists of a masterchain responsible for the overall state, network consensus, and workchains, a limitless number of autonomous chains that carry user accounts, other smart contracts and decentralized applications.Mesh technology has enabled a revolutionary way of optimizing communication between these different chains that does not compromise the network’s speed or unparalleled scalability. With its technological stack ensuring fast finality, thorough security and stability, and easy usability, Venom makes an ideal network for hosting CBDCs and other massive platforms.For more information, users can visit: https://venom.foundationContactVenom Foundationmedia@venom.networkAbout DotcoinA Telegram-based tap-to-earn game where players can earn in-game currency by repeatedly tapping a single dot on screen. Users can also invite friends and complete tasks to boost their earnings. Free-to-play and elegantly simple, Dotcoin is highly accessible and has a massive user base. The game’s launch on Venom means full integration of the blockchain into the Dotcoin ecosystem, incorporating payment solutions and other blockchain mechanics. Dotcoin is set to release its native token, DTC, on the Venom blockchain.For more information, users can visit: https://dotcoin.botContactDotcoininfo@dotcoin.botThis article was originally published on Chainwire More