Cryptocurrency

Sovereign Nature Initiative (SNI) has announced a collaboration with Unique Network and WalletConnect on Polkadot. Officially launching at Polkadot Decoded 2024, DOTphin will leverage NFTs to effect positive environmental change. This initiative was approved by strong community support through Polkadot OpenGov.Powered by dynamic NFTs, DOTphin is designed to enhance event engagement and deliver real-world ecological impact. The project transforms event participation into an interactive journey, aligning digital evolution with sustainability. As a result, events are more rewarding and user engagement is higher.DOTphin is an eco-linked dynamic multi-pass that supports biodiversity restoration. The avatar attached to each pass, represented as an NFT, evolves through a series of physical and digital events while bringing community engagement and sustainability support to the Polkadot ecosystem.The official launch of DOTphin will commence with the distribution of eco-badges to attendees at Polkadot Decoded 2024 on July 11. These serve as keys to claiming unique DOTphin NFTs. EthCC ticket holders can claim a free Decoded ticket and their first POAP which will unlock a multi-event, multi-month journey that will support marine conservation efforts.. As a project focused on sustainability, DOTphin aligns with Polkadot’s credentials as a green blockchain with a low carbon footprint. Targeted at environmentally-conscious users and investors, DOTphin demonstrates another use case for Polkadot technology while showcasing blockchain’s ability to have a positive environmental impact.Thanks to the dynamic design of DOTphin NFTs, each token evolves based on user engagement, creating a personalized and interactive experience. With funds channeled towards marine conservation, every digital interaction has a tangible ecological benefit. DOTphin holders can use the purpose-built REAL Portal to check the status of their NFT and follow activities.By integrating real-world species data with evolving NFTs, DOTphin aims to showcase how blockchain can drive positive ecological impact. In combining web3 technology with ecological stewardship, DOTphin is pioneering new use cases for NFTs and uniting like-minded individuals who can collaborate to achieve shared goals.DOTphin will officially launch at Decoded on July 11 and will continue through eight additional blockchain gatherings including sub0, Token 2049, and DevCon.About DOTphinDeveloped by Sovereign Nature Initiative (SNI) with the support of Unique Network and WalletConnect, DOTphin makes use of dynamic NFTs on Polkadot. This supports ecological conservation while rewarding engagement, allowing communities to collaborate to achieve positive real-world change.ContactCEOCatherine BischoffSovereign Nature Initiativecatherine@sovereignnature.comThis article was originally published on Chainwire More

The recent operations of the German government’s Bitcoin wallet are relevant to the message’s background. The German government wallet receives Bitcoin for the first two days in a row at the end of business hours. According to some analysts, this is a buyback following a sale.In reality, though, these unsold Bitcoins are being returned to the German government’s control wallet. It might seem unusual, but such a large institution might not have enough trust in exchanges and prefer self-custody. A total of 3,073 BTC were added back to the wallet yesterday, bringing the Germans’ temporary balance to 27,461, BTC or roughly $1.57 billion.Another Bitcoin discarding is scheduled for today by the German government. The price of Bitcoin and the mood of the market as a whole have both been significantly impacted by this enormous selling pressure. One interpretation of Saylor’s message would be a commentary on the state of the market and how the actions of this institution affect it. It is also possible that Saylor is mocking the decision to sell such a large amount of BTC on the market in such a brutal fashion.It is becoming difficult for Bitcoin to keep up its momentum due to the selling operations that the German government is conducting. This activity highlights the power that institutions and major holders have over the cryptocurrency market, which frequently results in volatility and abrupt price swings. Temporary price reductions brought on by large-scale sales can inspire some people to buy while inciting fear in others.This article was originally published on U.Today More

SSV Network boasts over $3 billion in total value locked (TVL) and welcomes nearly 30,000 validators and 700+ node operators across its network. Ethereum-focused distributed validator network SSV Network marks a ‘huge step forward’ across the restaking and staking ecosystems, reaching 1 Million $ETH staked on its platform. The protocol officially went live following the unveiling of its permissionless network in December 2023, allowing various partners and solo stakers to securely distribute ETH validators and earn rewards for becoming node operators on the platform. The DAO-owned and open-sourced protocol provides infrastructure that allows developers to build distributed validator technology (DVT) powered staking applications atop it. The network enables the distribution of validator duties to trust-minimized node operators to increase resilience, uptime, and decentralization. Restaking, the latest trend in blockchain, allows developers to use a blockchain to secure other decentralized applications. Restaking protocols can permissionlessly utilize SSV Network to enhance their restaking operations. By offering a highly resilient and robust infrastructure, SSV Network further extends Ethereum’s crypto-economic security by securing its base layer. Around 11,500 validators ($1.2b out of the $3.2b total tvl) of staked ETH is from their partners and integrations in the restaking ecosystem. By reaching the landmark in ETH staked, SSV Network promotes enhanced security for applications and an opportunity for users to earn more rewards through it’s extended incentivization program. Additionally, it solidifies SSV Network as a “critical infrastructure” in staking and restaking, distributing validators among Ethereum’s finest node operators that operate inside the SSV Network. SSV’s DVT infrastructure provides a layer whereby Eth validator nodes can be distributed geographically between multiple machines with multiple components. So far, over 700 globally distributed node operators run various execution and consensus clients with different infrastructure types and MEV relays. This provides users with more flexibility and resilience than traditional non-DVT staking platforms. Integrations with the SSV Network include Lido Finance, Ether.fi (no 1. LRT by TVL), P2P.org, Renzo, etc., each with a considerable amount of validators spread across the network.“SSV Network is creating the new gold standard for ETH staking and taking the industry by storm because it builds on the Ethereum community’s open-source, permissionless, and trustless ethos,” a team member from SSV Labs (contributor to SSV Network) stated. Reaching 1 million staked ETH is expected to spark increased adoption of the platform and cement SSV Network’s place in the leading staking and restaking validator ecosystem charts. Finally, SSV Network also announced its updated scaling roadmap, which aims to reduce the hardware requirements for node operators. The platform is moving from the recommended 4-core CPU to 8-core, increasing the hardware costs for node operators. However, SSV Labs, one of the protocol’s development teams, is working on solutions to reduce the hardware requirements by 75–90% over the next 12 months. By providing a robust and resilient protocol for re/staking, SSV Network aims to foster a secure environment for the execution of validator operations.ContactAlon Askalaskal@ssvlabs.ioThis article was originally published on Chainwire More

Today July 8 EOS Network launches a 250M EOS staking rewards program as part of the network’s revamped tokenomics plan.Under the new staking rewards schedule, 85.6K EOS is distributed daily to Stakers. The revamped EOS staking program rewards early stakers for participating, with an initial APY of over 60% available. More than 31M EOS tokens are distributed per year to Stakers.The EOS Staking Rewards Program has other notable enhancements. The lock up period for staking has increased from four to 21 days. EOS Block Producers (BPs) will begin receiving network generated fees on top of their block reward income, further incentivizing infrastructure providers as network demand increases.The updated EOS staking program is designed to provide sustainable rewards for participants and support ecosystem growth. Participate in the 250M Staking program by visiting stake.eosnetwork.com. About EOSEOS is a public blockchain that prioritises high performance, flexibility, security, and developer freedom. The EOS Network focuses on usability across the ecosystem, enabling developers to implement and expand their ideas effectively.Learn more: https://eosnetwork.com/ContactChief Communications OfficerZack GallEOS Network Foundationzack@eosn.foundationThis article was originally published on Chainwire More

In a step forward for the derivatives ecosystem on Arbitrum, two prominent DeFi projects, GMX and Gains Network, have unveiled bids to integrate their platforms into Kwenta’s upcoming perpetuals marketplace. Kwenta, the leading perpetual futures exchange on Optimism, expanded its reach earlier this year by launching the Base network, reflecting a larger plan to connect derivatives liquidity across multiple chains. This announcement follows the recent approval of a grant from the Arbitrum DAO aimed at supporting Kwenta’s initial expansion to the Arbitrum network.Product Offerings from GMX and Gains NetworkGMX and Gains Network have submitted their proposals to integrate their liquidity into Kwenta’s platform. These integrations aim to enhance the trading experience for Kwenta users by providing access to additional markets and liquidity, while taking advantage of Kwenta’s UX-focused roadmap, which includes allowing traders to log in with traditional web2 credentials and sponsoring gasless transactions.GMX v2, Arbitrum’s flagship perpetual futures AMM (Automated Market Maker), built on the initial success of their v1 product by being the first to integrate Chainlink Data Streams, a low latency product from the leading oracle provider aimed at high-performance applications. The lower fees and wider selection of markets available on GMX v2 allowed the offering to quickly grow in popularity with onchain traders.Gains Network, known for its gTrade platform, offers a wide variety of trading pairs, including cryptocurrencies, forex, and commodities, supported by their decentralized oracle network. Gains Network’s innovative approach to perpetual futures provides traders access to up to 150x leverage on a growing list of nearly 200 markets.Strengthening the Arbitrum EcosystemThe integration of GMX and Gains Network into Kwenta’s perpetuals marketplace is expected to drive growth in the onchain perpetuals space by allowing users to easily access advanced DeFi products from Kwenta’s easy-to-use UX layer. While retail-focused applications have made huge steps forward in allowing users to quickly access the best prices for token swaps and bridging, onchain leverage has remained a complex product for more sophisticated DeFi enthusiasts.This strategic expansion brings Arbitrum’s most popular derivatives trading venues under a single platform, providing a simple and familiar experience for traders new to onchain products. Kwenta’s roadmap promises to build on these quality of life features, allowing users to interact with multiple protocols in a single application.Looking AheadKwenta is currently inviting community feedback on these proposals as it moves towards finalizing its perpetuals marketplace. The potential integrations with GMX and Gains Network align with Kwenta’s mission to provide a superior decentralized trading experience. With these developments, Kwenta is aims to become a leading venue for DeFi derivatives trading on Arbitrum.About KwentaKwenta is an onchain derivatives marketplace on Optimism, Base, and Arbitrum. The platform offers easy-to-use tools to access deep liquidity and low fees onchain, while users retain full custody of their funds. With over $50 billion in trading volume through its community-governed platform, Kwenta is committed to developing tools that bring DeFi to everyone.For more details, users can follow Kwenta’s governance discussion channels on Discord.ContactMarketingDAO PMBurt RockKwentainfo@kwenta.ioThis article was originally published on Chainwire More

Bybit, the world’s second-largest web3 platform by trading volume, is taking its partnership with Beach, Please! – Romania’s biggest hip-hop festival – by offering a range of exclusive perks for festival-goers, further connecting music fans with the exciting world of crypto.Building on the previously announced “Spin and Win” Lucky Draw offering General access passes, VIP and Ultra VIP tickets, Bybit is thrilled to announce:The Beach, Please! Festival takes place from July 10th to 14th, 2024, and boasts a star-studded lineup featuring Travis Scott (making his festival debut!), Wiz Khalifa, Anitta, and many more. Held on the stunning European beaches of Costinești, the festival promises an unforgettable summer blend of music, sunshine, and the exciting world of cryptocurrency.Users can join the Bybit Family and Get Potential Rewarded now:About Beach, Please!Beach, Please! is the biggest urban festival in Central and Eastern Europe, revolutionizing Romania’s festival scene since its debut in 2022 . It started with 30,000 participants and is expected to draw over 200,000 in 2024.Set in the iconic youth hotspot of Costinești, Beach, Please is Romania’s leading music and entertainment platform and one of the fastest-growing entertainment events. It is the premier festival for the new generation and the top choice for brands to connect with the new generation.For more details about Beach, Please! Festival, users can visit Beach, Please!’s official websiteFor updates, users can follow Beach, Please!’s InstagramFor any inquiries, users can contact: bp-support@globalrecords.comAbout BybitBybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 33 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: media@bybit.comFor more information, users can visit: https://www.bybit.comFor updates, users can follow: Bybit’s Communities and Social MediaContactHead of PRTony AuBybittony.au@bybit.comThis article was originally published on Chainwire More

ETH/USD rose 2% to 3,018.80 Following the SEC’s approval of spot ETH 19b-4 applications from several issuers including VanEck, ARK Investments/21Shares and BlackRoc, on May. 23, the regulator is now inching closer to a decision on the second step of regulatory process on whether to approve the issuers’ ethereum ETFs’ registration statements, or S-1 forms. The S-1 form is a key regulatory filing that details information about the company and the spot-ether ETF product such as risks, opportunities, financials and other metrics that potential investors may find useful.        But even as spot ether ETFs appear to be horizon, investor appetite for the underlying crypto ETH doesn’t appear to be on the up and up.    On-chain data from Glassnode showed a decrease in ETH held by various address sizes and a jump in ETH flows to exchanges on Jul. 8.  More

Interestingly, $206.49 million were long positions, while $210.15 million were bearish. This just goes to show that the market is no respecter of persons, and that traders who are not cautious enough will be wiped out either way.In the midst of this, Robert Kiyosaki, author of “Rich Dad Poor Dad” and a Bitcoin advocate, shared an important perspective. He emphasized that money should be seen as a tool, not an end goal, suggesting that true financial freedom is the goal.Kiyosaki’s advice emphasizes the importance of a long-term vision and resilience during market fluctuations.Recent market movements and Kiyosaki’s insights underscore the risks and opportunities inherent in the cryptocurrency market. Traders and investors are reminded to approach the market with caution, recognizing that significant price fluctuations are a feature, not a bug.Kiyosaki’s focus on financial freedom and strategic investing provides valuable guidance for navigating the market’s ups and downs. His bullish stance on the future of Bitcoin remains on point. He predicted that BTC could reach $120,000 by the end of 2024 and potentially soar to $500,000 by next year.This article was originally published on U.Today More